# EDGAR Filing Document

**Accession Number:** 0001516523
**File Stem:** 0002066578-25-000529
**Filing Date:** 2025-8
**Character Count:** 20559
**Document Hash:** 2aa27df14cc327649373b07c80f4ed26
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002066578-25-000529.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0002066578-25-000529

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250827

**DATE AS OF CHANGE**: 20250827

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Advisers Investment Trust
- **CENTRAL INDEX KEY:** 0001516523

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22538
- **FILM NUMBER:** 251265912

**BUSINESS ADDRESS:**
- **STREET 1:** 50 S. LASALLE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60603
- **BUSINESS PHONE:** (855) 351-4583

**MAIL ADDRESS:**
- **STREET 1:** 50 S. LASALLE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60603

## Series and Classes Contracts Data

### Independent Franchise Partners US Equity Fund (Series ID: S000032964)

| Class ID   | Class Name                                    | Ticker Symbol   |
|:---|:---|:---|
| C000101704 | Independent Franchise Partners US Equity Fund | IFPUX           |

## Nport-Ex

------

**ADVISERS INVESTMENT TRUST**

**INDEPENDENT FRANCHISE PARTNERS US EQUITY FUND**

**SCHEDULE OF INVESTMENTS**

**June 30, 2025 (Unaudited)** 

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage**<br> **of Net**<br> **Assets**<br>| **Shares** | **Value** |
| COMMON STOCKS | 95.2<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Biotechnology | 4.9<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corteva Inc. |  | 999162 | &nbsp;&nbsp; $74467544 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Services | 5.0<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RB Global Inc. |  | 395469 | &nbsp;&nbsp; 41994853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TransUnion |  | 388003 | &nbsp;&nbsp; 34144264 |
|  |  |  | &nbsp;&nbsp; 76139117 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cosmetics/Personal Care | 8.7<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Estée Lauder Cos. Inc. - Class A |  | 543998 | &nbsp;&nbsp; 43955038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kenvue Inc. |  | 3088792 | &nbsp;&nbsp; 64648417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unilever PLC |  | 407372 | &nbsp;&nbsp; 24837755 |
|  |  |  | &nbsp;&nbsp; 133441210 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diversified Financials | 4.8<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intercontinental Exchange Inc. |  | 400366 | &nbsp;&nbsp; 73455150 |
| &nbsp;&nbsp;&nbsp;&nbsp; Entertainment | 13.9<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Live Nation Entertainment Inc.<sup>(a)</sup> <br>|  | 380301 | &nbsp;&nbsp; 57531935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TKO Group Holdings Inc. |  | 252322 | &nbsp;&nbsp; 45909988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warner Bros Discovery Inc.<sup>(a)</sup> <br>|  | 4303799 | &nbsp;&nbsp; 49321536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warner Music Group Corp. - Class A |  | 2148503 | &nbsp;&nbsp; 58525222 |
|  |  |  | &nbsp;&nbsp; 211288681 |
| &nbsp;&nbsp;&nbsp;&nbsp; Healthcare Products | 3.4<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Solventum Corp.<sup>(a)</sup> <br>|  | 683102 | &nbsp;&nbsp; 51806456 |
| &nbsp;&nbsp;&nbsp;&nbsp; Household Products/Wares | 1.8<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reckitt Benckiser Group PLC |  | 400092 | &nbsp;&nbsp; 27212181 |
| &nbsp;&nbsp;&nbsp;&nbsp; Insurance | 3.4<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aon PLC - Class A |  | 145939 | &nbsp;&nbsp; 52065198 |
| &nbsp;&nbsp;&nbsp;&nbsp; Internet Software & Services | 8.3<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; eBay Inc. |  | 712788 | &nbsp;&nbsp; 53074195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zillow Group Inc. - Class A<sup>(a)</sup> <br>|  | 139809 | &nbsp;&nbsp; 9575518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zillow Group Inc. - Class C<sup>(a)</sup> <br>|  | 904945 | &nbsp;&nbsp; 63391397 |
|  |  |  | &nbsp;&nbsp; 126041110 |
| &nbsp;&nbsp;&nbsp;&nbsp; Media | 10.4<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fox Corp. - Class A |  | 1073849 | &nbsp;&nbsp; 60178498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fox Corp. - Class B |  | 332872 | &nbsp;&nbsp; 17186181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; News Corp. - Class A |  | 1914812 | &nbsp;&nbsp; 56908213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; News Corp. - Class B |  | 700451 | &nbsp;&nbsp; 24032474 |
|  |  |  | &nbsp;&nbsp; 158305366 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pharmaceuticals | 12.3<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bristol Myers Squibb Co. |  | 1609262 | &nbsp;&nbsp; 74492738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Johnson & Johnson |  | 395725 | &nbsp;&nbsp; 60446994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Novartis AG - REG |  | 433394 | &nbsp;&nbsp; 52529461 |
|  |  |  | &nbsp;&nbsp; 187469193 |

---

------

**ADVISERS INVESTMENT TRUST**

**INDEPENDENT FRANCHISE PARTNERS US EQUITY FUND**

**SCHEDULE OF INVESTMENTS**

**June 30, 2025 (Unaudited)** 

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage**<br> **of Net**<br> **Assets**<br>| **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Software | 6.9<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Electronic Arts Inc. |  | 286124 | &nbsp;&nbsp; $45694003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oracle Corp. |  | 273513 | &nbsp;&nbsp; 59798147 |
|  |  |  | &nbsp;&nbsp; 105492150 |
| &nbsp;&nbsp;&nbsp;&nbsp; Textiles, Apparel & Luxury Goods | 1.9<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cie Financiere Richemont S.A. - Class A - REG |  | 151338 | &nbsp;&nbsp; 28505217 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tobacco | 7.0<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; British American Tobacco PLC |  | 940154 | &nbsp;&nbsp; 44690100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Philip Morris International Inc. |  | 340026 | &nbsp;&nbsp; 61928935 |
|  |  |  | &nbsp;&nbsp; 106619035 |
| &nbsp;&nbsp;&nbsp;&nbsp; Toys/Games/Hobbies | 2.5<br> %<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nintendo Co. Ltd. |  | 401270 | &nbsp;&nbsp; 38676626 |
| TOTAL COMMON STOCKS (Cost $977,717,274) |  |  | &nbsp;&nbsp; 1450984234 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS<br> (Cost $977,717,274)<br>| 95.2<br> %<br>|  | &nbsp;&nbsp; 1450984234 |
| NET OTHER ASSETS (LIABILITIES) | 4.8<br> %<br>|  | &nbsp;&nbsp; 73086837 |
| NET ASSETS | 100.0<br> %<br>|  | &nbsp;&nbsp; $1524071071 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup>Non-income producing security.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Abbreviations: <br> REG – Registered

At June 30, 2025, the Fund's investments were concentrated in the following countries:

---

| | |
|:---|:---|
| **Country Allocation** | **Percentage**<br> **of Net Assets**<br>|
| United States  | 74.8% |
| United Kingdom  | &nbsp;&nbsp; 6.4  |
| Switzerland  | &nbsp;&nbsp; 5.3  |
| Ireland<sup>(b)</sup> | &nbsp;&nbsp; 3.4  |
| Canada<sup>(b)</sup> | &nbsp;&nbsp; 2.8  |
| Japan  | &nbsp;&nbsp; 2.5  |
| Total  | 95.2% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(b)</sup>RB Global Inc. is incorporated in Canada and Aon PLC is incorporated in Ireland; however, their primary listings are on the New York Stock Exchange (NYSE) in <br> the United States. Independent Franchise Partners, LLC therefore defines both as United States equities, consistent with the terms set out in the prospectus..<br>

------

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Advisers Investment Trust

- **b. Investment Company Act file number:** 811-22538

- **c. CIK number of Registrant:** 0001516523

- **d. LEI of Registrant:** 549300BG52TB5QPLYE22

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 50 S. LaSalle Street

  - **City:** Chicago

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60603

  - **Telephone number:** 312-557-4100

**Item A.2. Information about the Series.**

- **a. Name of Series:** Independent Franchise Partners US Equity Fund

- **b. EDGAR series identifier (if any):** S000032964

- **c. LEI of Series:** 549300CEKV4YBYWQON24

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $1497774561.90

**Total Liabilities:** $1056388.27

**Net Assets:** $1496718173.63

**Cash Not Reported:** $41843827.99

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000101704 | -2.12%               | 3.88%                | 4.47%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1551072.21              | $-33582349.29                              |
| Month 2  | $1029729.42              | $52449337.60                               |
| Month 3  | $16998720.73             | $45741223.70                               |

### Schedule of Portfolio Investments

| Name                              | Title                                               | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Reckitt Benckiser Group PLC       | Reckitt Benckiser Group PLC ORD GBP0.10             | CUSIP: G74079107<br>LEI: 5493003JFSMOJG48V108 | Long             | EC               | CORP              | GB        |    400092 | NS      | $27212181.50  | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Electronic Arts Inc.              | Electronic Arts Inc. COM USD0.01                    | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |    286124 | NS      | $45694002.80  | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| British American Tobacco PLC      | British American Tobacco PLC ORD GBP0.25            | CUSIP: G1510J102<br>LEI: 213800FKA5MF17RJKT63 | Long             | EC               | CORP              | GB        |    940154 | NS      | $44690099.57  | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Corporation                   | Fox Corporation COM USD0.01 CL A                    | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |   1073849 | NS      | $60178497.96  | 4.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Company      | Bristol-Myers Squibb Company COM USD0.10            | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |   1609262 | NS      | $74492737.98  | 4.98%             |  |  |  | No            |                  1 | On Loan: No      |
| eBay Inc.                         | eBay Inc. COM USD0.001                              | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |    712788 | NS      | $53074194.48  | 3.55%             |  |  |  | No            |                  1 | On Loan: No      |
| The Estee Lauder Companies Inc.   | The Estee Lauder Companies Inc. COM USD0.01 CLASS A | CUSIP: 518439104<br>LEI: 549300VFZ8XJ9NUPU221 | Long             | EC               | CORP              | US        |    543998 | NS      | $43955038.40  | 2.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                 | Johnson & Johnson COM USD1.00                       | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |    395725 | NS      | $60446993.75  | 4.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc     | Intercontinental Exchange Inc COM USD0.01           | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |    400366 | NS      | $73455150.02  | 4.91%             |  |  |  | No            |                  1 | On Loan: No      |
| TransUnion                        | TransUnion COM USD0.01                              | CUSIP: 89400J107<br>LEI: 549300ZS772LUNUMRB03 | Long             | EC               | CORP              | US        |    388003 | NS      | $34144264.00  | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Corporation                   | Fox Corporation COM USD0.01 CL B                    | CUSIP: 35137L204<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |    332872 | NS      | $17186181.36  | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Aon PLC                           | Aon PLC SHS CL A                                    | CUSIP: G0403H108<br>LEI: 635400FALWQYX5E6QC64 | Long             | EC               | CORP              | IE        |    145939 | NS      | $52065197.64  | 3.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Corteva Inc                       | Corteva Inc COM USD0.01                             | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |    999162 | NS      | $74467543.86  | 4.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Music Group Corporation    | Warner Music Group Corporation COM CL A             | CUSIP: 934550203<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2148503 | NS      | $58525221.72  | 3.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Bros. Discovery Inc.       | Warner Bros. Discovery Inc. COM SER A               | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Long             | EC               | CORP              | US        |   4303799 | NS      | $49321536.54  | 3.30%             |  |  |  | No            |                  1 | On Loan: No      |
| RB Global Inc                     | RB Global Inc COM                                   | CUSIP: 74935Q107<br>LEI: 5493002H8U24DJXQ4886 | Long             | EC               | CORP              | CA        |    395469 | NS      | $41994853.11  | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Unilever PLC                      | Unilever PLC ORD GBP0.031111                        | CUSIP: G92087165<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               | CORP              | GB        |    407372 | NS      | $24837754.71  | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Nintendo Co Ltd.                  | Nintendo Co Ltd. NPV                                | CUSIP: J51699106<br>LEI: 353800FEEXU6I9M0ZF27 | Long             | EC               | CORP              | JP        |    401270 | NS      | $38676626.51  | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Solventum Corp.                   | Solventum Corp. COM SHS                             | CUSIP: 83444M101<br>LEI: 254900I70403OSGY4M28 | Long             | EC               | CORP              | US        |    679322 | NS      | $51519780.48  | 3.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                       | Novartis AG CHF0.49 (REGD)                          | CUSIP: H5820Q150<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |    433394 | NS      | $52529461.19  | 3.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International Inc.  | Philip Morris International Inc. COM NPV            | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |    340026 | NS      | $61928935.38  | 4.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Zillow Group Inc                  | Zillow Group Inc COM USD0.0001 CLASS A              | CUSIP: 98954M101<br>LEI: 2549002XEELQDIR6FU05 | Long             | EC               | CORP              | US        |    139809 | NS      | $9575518.41   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Zillow Group Inc                  | Zillow Group Inc COM USD0.0001 CLASS C              | CUSIP: 98954M200<br>LEI: 2549002XEELQDIR6FU05 | Long             | EC               | CORP              | US        |    904945 | NS      | $63391397.25  | 4.24%             |  |  |  | No            |                  1 | On Loan: No      |
| News Corporation                  | News Corporation COM USD0.01 CL'A'                  | CUSIP: 65249B109<br>LEI: 549300ITS31QK8VRBQ14 | Long             | EC               | CORP              | US        |   1914812 | NS      | $56908212.64  | 3.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Compagnie Financiere Richemont Sa | Compagnie Financiere Richemont Sa CHF1 (REGD)       | CUSIP: H25662182<br>LEI: 549300YIPGJ6UX2QPS51 | Long             | EC               | CORP              | CH        |    151338 | NS      | $28505216.59  | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Kenvue Inc.                       | Kenvue Inc. COM                                     | CUSIP: 49177J102<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | EC               | CORP              | US        |   3088792 | NS      | $64648416.56  | 4.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp.                      | Oracle Corp. COM USD0.01                            | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |    273513 | NS      | $59798147.19  | 4.00%             |  |  |  | No            |                  1 | On Loan: No      |
| News Corporation                  | News Corporation COM USD0.01 CL'B'                  | CUSIP: 65249B208<br>LEI: 549300ITS31QK8VRBQ14 | Long             | EC               | CORP              | US        |    700451 | NS      | $24032473.81  | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Live Nation Entertainment, Inc.   | Live Nation Entertainment, Inc. COM USD0.01         | CUSIP: 538034109<br>LEI: 5493007B9BM9ZXJINO78 | Long             | EC               | CORP              | US        |    380301 | NS      | $57531935.28  | 3.84%             |  |  |  | No            |                  1 | On Loan: No      |
| TKO Group Holdings Inc.           | TKO Group Holdings Inc. CL A                        | CUSIP: 87256C101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    252322 | NS      | $45909987.90  | 3.07%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-31

**Name of Applicant:** Advisers Investment Trust

**Signature:** Troy Sheets

**Name of Signer:** Troy Sheets

**Title:** Treasurer