# EDGAR Filing Document

**Accession Number:** 0001762332
**File Stem:** 0002048251-26-005445
**Filing Date:** 2026-6
**Character Count:** 159823
**Document Hash:** ab18923947ede9c110393f490cd6e0d6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-26-005445.hdr.sgml**: 20260629

**ACCESSION NUMBER**: 0002048251-26-005445

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260629

**DATE AS OF CHANGE**: 20260629

**PERIOD START**: 20260731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Frost Family of Funds
- **CENTRAL INDEX KEY:** 0001762332

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23410
- **FILM NUMBER:** 261131260

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19456
- **BUSINESS PHONE:** (610) 676-1000

**MAIL ADDRESS:**
- **STREET 1:** ONE FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19456

## Series and Classes Contracts Data

### FROST LOW DURATION BOND FUND (Series ID: S000065043)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000210579 | Institutional Class Shares | FILDX           |
| C000210580 | Investor Class Shares      | FADLX           |

## Nport-Ex

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![](fp0099434_01.jpg) | ![](fp0099434_02.jpg) |

---

**FROST GROWTH EQUITY FUND April 30, 2026 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Description** | **Shares** | **Value** | **Value** |
| **COMMON STOCK§ — 99.8%** | | | |
| Communication Services — 16.2% |  |  |  |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl C | 30092 | $| 11493339 |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl A | 24898 |  | 9580750 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Cl A | 13769 |  | 8425389 |
| &nbsp;&nbsp;&nbsp;Netflix \* | 36413 |  | 3408621 |
| &nbsp;&nbsp;&nbsp;Reddit, Cl A \* | 2013 |  | 296374 |
| &nbsp;&nbsp;&nbsp;Spotify Technology \* | 3509 |  | 1566944 |
|  |  |  | 34771417 |
| Consumer Discretionary — 13.2% | Consumer Discretionary — 13.2% | Consumer Discretionary — 13.2% | Consumer Discretionary — 13.2% |
| &nbsp;&nbsp;&nbsp;Amazon.com \* | 52147 |  | 13822084 |
| &nbsp;&nbsp;&nbsp;Birkenstock Holding \* | 15246 |  | 590630 |
| &nbsp;&nbsp;&nbsp;Booking Holdings | 7025 |  | 1182729 |
| &nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Cl A \* | 14396 |  | 489320 |
| &nbsp;&nbsp;&nbsp;Dutch Bros, Cl A \* | 20458 |  | 1176539 |
| &nbsp;&nbsp;&nbsp;Home Depot | 3424 |  | 1125811 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive \* | 29006 |  | 2883196 |
| &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises | 6160 |  | 1624762 |
| &nbsp;&nbsp;&nbsp;Tesla \* | 10001 |  | 3816682 |
| &nbsp;&nbsp;&nbsp;TJX | 11012 |  | 1726131 |
|  |  |  | 28437884 |
| Consumer Staples — 2.3% | Consumer Staples — 2.3% | Consumer Staples — 2.3% | Consumer Staples — 2.3% |
| &nbsp;&nbsp;&nbsp;Coca-Cola | 14695 |  | 1157378 |
| &nbsp;&nbsp;&nbsp;Costco Wholesale | 2972 |  | 3015183 |
| &nbsp;&nbsp;&nbsp;Monster Beverage \* | 9678 |  | 745884 |
|  |  |  | 4918445 |
| Financials — 6.2% | Financials — 6.2% | Financials — 6.2% | Financials — 6.2% |
| &nbsp;&nbsp;&nbsp;Adyen ADR \* | 71448 |  | 803790 |
| &nbsp;&nbsp;&nbsp;Arthur J Gallagher | 3749 |  | 773794 |
| &nbsp;&nbsp;&nbsp;Mastercard, Cl A | 8610 |  | 4330141 |
| &nbsp;&nbsp;&nbsp;Moody's | 4891 |  | 2258908 |
| &nbsp;&nbsp;&nbsp;Visa, Cl A | 15676 |  | 5170572 |
|  |  |  | 13337205 |
| Health Care — 8.0% | Health Care — 8.0% | Health Care — 8.0% | Health Care — 8.0% |
| &nbsp;&nbsp;&nbsp;AbbVie | 6261 |  | 1323074 |
| &nbsp;&nbsp;&nbsp;Danaher | 5734 |  | 1026099 |
| &nbsp;&nbsp;&nbsp;Eli Lilly | 7214 |  | 6742205 |
| &nbsp;&nbsp;&nbsp;Insmed \* | 6292 |  | 857788 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical \* | 8503 |  | 3891058 |
| &nbsp;&nbsp;&nbsp;Medline, Cl A \* | 28568 |  | 1270419 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group | 2986 |  | 1106253 |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals \* | 2175 |  | 929552 |
|  |  |  | 17146448 |
| Industrials — 6.0% | Industrials — 6.0% | Industrials — 6.0% | Industrials — 6.0% |
| &nbsp;&nbsp;&nbsp;Boeing \* | 6324 |  | 1448386 |
| &nbsp;&nbsp;&nbsp;Eaton | 3300 |  | 1428933 |
| &nbsp;&nbsp;&nbsp;GE Vernova | 2407 |  | 2607888 |
| &nbsp;&nbsp;&nbsp;General Electric | 13405 |  | 3886511 |
| &nbsp;&nbsp;&nbsp;Trane Technologies | 3261 |  | 1606173 |
| &nbsp;&nbsp;&nbsp;TransDigm Group | 1108 |  | 1285258 |
| &nbsp;&nbsp;&nbsp;Uber Technologies \* | 9985 |  | 744981 |
|  |  |  | 13008130 |
| Information Technology — 47.0% | Information Technology — 47.0% | Information Technology — 47.0% | Information Technology — 47.0% |
| &nbsp;&nbsp;&nbsp;Advanced Micro Devices \* | 7572 |  | 2684198 |
| &nbsp;&nbsp;&nbsp;Apple | 74094 |  | 20105407 |
| &nbsp;&nbsp;&nbsp;Arista Networks \* | 14760 |  | 2549200 |
| &nbsp;&nbsp;&nbsp;ASML Holding, Cl G | 809 |  | 1164143 |
| &nbsp;&nbsp;&nbsp;Broadcom | 31259 |  | 13048444 |

---

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;Datadog, Cl A \* | 8291 | $1095987 |
| &nbsp;&nbsp;&nbsp;Intuit | 2944 | 1143744 |
| &nbsp;&nbsp;&nbsp;KLA | 721 | 1262003 |
| &nbsp;&nbsp;&nbsp;Microsoft | 44894 | 18306875 |
| &nbsp;&nbsp;&nbsp;Monolithic Power Systems | 1770 | 2857506 |
| &nbsp;&nbsp;&nbsp;NVIDIA | 146510 | 29239001 |
| &nbsp;&nbsp;&nbsp;Oracle | 10252 | 1654570 |
| &nbsp;&nbsp;&nbsp;Palantir Technologies, Cl A \* | 6567 | 913535 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks \* | 9386 | 1683098 |
| &nbsp;&nbsp;&nbsp;ServiceNow \* | 15066 | 1330479 |
| &nbsp;&nbsp;&nbsp;Snowflake, Cl A \* | 9537 | 1301514 |
| &nbsp;&nbsp;&nbsp;Synopsys \* | 1775 | 856615 |
|  |  | 101196319 |
| Materials — 0.3% | Materials — 0.3% | Materials — 0.3% |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams | 1969 | 633250 |
| Real Estate — 0.6% | Real Estate — 0.6% | Real Estate — 0.6% |
| &nbsp;&nbsp;&nbsp;American Tower <sup>‡</sup> | 6586 | 1203328 |
| Total Common Stock |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $75,038,607) |  | 214652426 |
| Total Investments — 99.8% |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $75,038,607) |  | $214652426 |

---

Percentages are based on Net Assets of $214,999,229.

---

| | |
|:---|:---|
| *<sup>\*</sup>* | *Non-income producing security.* |
| *<sup>§</sup>* | *Narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting.* |
| *<sup>‡</sup>* | *Real Estate Investment Trust* |

---

*For information on the Fund's policy regarding valuation of investments, fair value hierarchy levels and other significant accounting policies, please refer to the Fund's most recent financial statements.* 

*See "Glossary" for abbreviations.* 

*FIA-QH-001-3700*

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![](fp0099434_01.jpg) | ![](fp0099434_02.jpg) |

---

**FROST TOTAL RETURN BOND FUND April 30, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Description** | **Face Amount** | **Value** |
| **MORTGAGE-BACKED SECURITIES — 46.0%** | **MORTGAGE-BACKED SECURITIES — 46.0%** | **MORTGAGE-BACKED SECURITIES — 46.0%** |
| **Agency Mortgage-Backed Obligation — 36.0%** | **Agency Mortgage-Backed Obligation — 36.0%** | **Agency Mortgage-Backed Obligation — 36.0%** |
| &nbsp;&nbsp;&nbsp;FHLMC | &nbsp;&nbsp;&nbsp;FHLMC | &nbsp;&nbsp;&nbsp;FHLMC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 08/01/53 to 09/01/53 | $32972378 | $34035491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 08/01/54 to 11/01/54 | 139560051 | 140769000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/54 | 27419498 | 27080878 |
| &nbsp;&nbsp;&nbsp;FHLMC Military Housing Bonds Resecuritization Trust Certificates, Ser 2015-R1, Cl C3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.947%, 11/25/52 (A)(B) | 30062155 | 25959061 |
| &nbsp;&nbsp;&nbsp;FHLMC, Ser 2012-3996, Cl QL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 02/15/42 | 4387308 | 4246029 |
| &nbsp;&nbsp;&nbsp;FHLMC, Ser 2024-5406, Cl PO, PO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 03/25/52 (C)(D) | 61032960 | 42024751 |
| &nbsp;&nbsp;&nbsp;FHLMC, Ser 2024-5417, Cl JA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 08/25/44 | 64025549 | 65110430 |
| &nbsp;&nbsp;&nbsp;FHLMC, Ser 2024-5425, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 09/25/44 | 57613815 | 58593273 |
| &nbsp;&nbsp;&nbsp;FHLMC, Ser 2024-5429, Cl DV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 04/25/35 | 12205297 | 12425830 |
| &nbsp;&nbsp;&nbsp;FHLMC, Ser 2024-5491, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 11/25/50 | 31821130 | 31931905 |
| &nbsp;&nbsp;&nbsp;FNMA | &nbsp;&nbsp;&nbsp;FNMA | &nbsp;&nbsp;&nbsp;FNMA |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 11/01/53 | 18496655 | 19223628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 09/01/53 | 13181987 | 13340168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 05/01/44 to 01/01/54 | 17573219 | 17754596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/39 to 07/01/53 | 23611838 | 23579401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.710%, 09/01/29 | 8000000 | 7648735 |
| &nbsp;&nbsp;&nbsp;FNMA, Ser 2012-68, Cl GY |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 07/25/32 | 3661057 | 3551120 |
| &nbsp;&nbsp;&nbsp;FNMA, Ser 2024-25, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 03/25/44 | 9955933 | 10216964 |
| &nbsp;&nbsp;&nbsp;FNMA, Ser 2024-25, Cl AD |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/25/44 | 12444917 | 12439539 |
| &nbsp;&nbsp;&nbsp;GNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 01/20/54 | 1418730 | 1471572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 10/20/54 | 1856168 | 1864737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/20/54 to 02/20/55 | 108646604 | 107687732 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 107, Cl B | &nbsp;&nbsp;&nbsp;GNMA, Ser 107, Cl B | &nbsp;&nbsp;&nbsp;GNMA, Ser 107, Cl B |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 03/16/53 | 35000000 | 33917405 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 130, Cl AG | &nbsp;&nbsp;&nbsp;GNMA, Ser 130, Cl AG | &nbsp;&nbsp;&nbsp;GNMA, Ser 130, Cl AG |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 04/16/59 | 49574437 | 47472694 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 142, Cl AD | &nbsp;&nbsp;&nbsp;GNMA, Ser 142, Cl AD | &nbsp;&nbsp;&nbsp;GNMA, Ser 142, Cl AD |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/16/67 (A) | 9945858 | 9711646 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 145, Cl AC | &nbsp;&nbsp;&nbsp;GNMA, Ser 145, Cl AC | &nbsp;&nbsp;&nbsp;GNMA, Ser 145, Cl AC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 11/16/66 | 49706072 | 48330740 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 167, Cl A | &nbsp;&nbsp;&nbsp;GNMA, Ser 167, Cl A | &nbsp;&nbsp;&nbsp;GNMA, Ser 167, Cl A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 04/01/60 (A) | 24828426 | 24087313 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 176, Cl AH | &nbsp;&nbsp;&nbsp;GNMA, Ser 176, Cl AH | &nbsp;&nbsp;&nbsp;GNMA, Ser 176, Cl AH |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 05/16/65 (A) | 31464832 | 30314663 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 182, Cl AC | &nbsp;&nbsp;&nbsp;GNMA, Ser 182, Cl AC | &nbsp;&nbsp;&nbsp;GNMA, Ser 182, Cl AC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 12/16/66 | 94800105 | 92507146 |

---

---

| | | |
|:---|:---|:---|
| **Description** | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2016-99, Cl ID, IO | &nbsp;&nbsp;&nbsp;GNMA, Ser 2016-99, Cl ID, IO | &nbsp;&nbsp;&nbsp;GNMA, Ser 2016-99, Cl ID, IO |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 04/16/44 | $11876207 | $2322870 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 202, Cl AN | &nbsp;&nbsp;&nbsp;GNMA, Ser 202, Cl AN | &nbsp;&nbsp;&nbsp;GNMA, Ser 202, Cl AN |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 09/16/67 (A) | 24918587 | 23675964 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2020-189, Cl IJ, IO | &nbsp;&nbsp;&nbsp;GNMA, Ser 2020-189, Cl IJ, IO | &nbsp;&nbsp;&nbsp;GNMA, Ser 2020-189, Cl IJ, IO |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 12/20/50 | 16021279 | 2088465 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2021-8, Cl IG, IO | &nbsp;&nbsp;&nbsp;GNMA, Ser 2021-8, Cl IG, IO | &nbsp;&nbsp;&nbsp;GNMA, Ser 2021-8, Cl IG, IO |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 01/20/51 | 21108883 | 2463396 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2022-182, Cl PO, PO | &nbsp;&nbsp;&nbsp;GNMA, Ser 2022-182, Cl PO, PO | &nbsp;&nbsp;&nbsp;GNMA, Ser 2022-182, Cl PO, PO |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 10/20/52 (C)(D) | 21449789 | 15231984 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2022-201, Cl PO, PO | &nbsp;&nbsp;&nbsp;GNMA, Ser 2022-201, Cl PO, PO | &nbsp;&nbsp;&nbsp;GNMA, Ser 2022-201, Cl PO, PO |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 11/20/52 (C)(D) | 12840719 | 9420574 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2023-122, Cl G | &nbsp;&nbsp;&nbsp;GNMA, Ser 2023-122, Cl G | &nbsp;&nbsp;&nbsp;GNMA, Ser 2023-122, Cl G |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 05/20/46 | 2907776 | 2920340 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2023-151, Cl PO, PO | &nbsp;&nbsp;&nbsp;GNMA, Ser 2023-151, Cl PO, PO | &nbsp;&nbsp;&nbsp;GNMA, Ser 2023-151, Cl PO, PO |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 10/20/53 (C)(D) | 20847231 | 17263836 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2023-163, Cl B | &nbsp;&nbsp;&nbsp;GNMA, Ser 2023-163, Cl B | &nbsp;&nbsp;&nbsp;GNMA, Ser 2023-163, Cl B |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 02/20/48 | 11303397 | 11527162 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2023-163, Cl LB | &nbsp;&nbsp;&nbsp;GNMA, Ser 2023-163, Cl LB | &nbsp;&nbsp;&nbsp;GNMA, Ser 2023-163, Cl LB |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 02/20/48 | 10000000 | 10221067 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2023-196, Cl QA | &nbsp;&nbsp;&nbsp;GNMA, Ser 2023-196, Cl QA | &nbsp;&nbsp;&nbsp;GNMA, Ser 2023-196, Cl QA |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/20/53 | 11925371 | 11886260 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2023-93, Cl B | &nbsp;&nbsp;&nbsp;GNMA, Ser 2023-93, Cl B | &nbsp;&nbsp;&nbsp;GNMA, Ser 2023-93, Cl B |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 12/20/44 | 1314303 | 1316698 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2024-1, Cl TA | &nbsp;&nbsp;&nbsp;GNMA, Ser 2024-1, Cl TA | &nbsp;&nbsp;&nbsp;GNMA, Ser 2024-1, Cl TA |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 08/20/48 | 1823988 | 1828432 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2024-151, Cl DA | &nbsp;&nbsp;&nbsp;GNMA, Ser 2024-151, Cl DA | &nbsp;&nbsp;&nbsp;GNMA, Ser 2024-151, Cl DA |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 08/20/52 | 8556223 | 8477508 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2024-151, Cl JA | &nbsp;&nbsp;&nbsp;GNMA, Ser 2024-151, Cl JA | &nbsp;&nbsp;&nbsp;GNMA, Ser 2024-151, Cl JA |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 10/20/53 | 13618315 | 13562236 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2024-19, Cl H | &nbsp;&nbsp;&nbsp;GNMA, Ser 2024-19, Cl H | &nbsp;&nbsp;&nbsp;GNMA, Ser 2024-19, Cl H |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 12/20/51 | 1288818 | 1299283 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2025-105, Cl DF | &nbsp;&nbsp;&nbsp;GNMA, Ser 2025-105, Cl DF | &nbsp;&nbsp;&nbsp;GNMA, Ser 2025-105, Cl DF |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.040%, SOFR30A + 1.400%, 06/20/55 (A) | 10594990 | 10719166 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2025-148, Cl PT | &nbsp;&nbsp;&nbsp;GNMA, Ser 2025-148, Cl PT | &nbsp;&nbsp;&nbsp;GNMA, Ser 2025-148, Cl PT |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 12/16/64 (A) | 44698006 | 42926204 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2025-177, Cl CM | &nbsp;&nbsp;&nbsp;GNMA, Ser 2025-177, Cl CM | &nbsp;&nbsp;&nbsp;GNMA, Ser 2025-177, Cl CM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 10/20/55 | 9647664 | 9668326 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2025-28, Cl FW | &nbsp;&nbsp;&nbsp;GNMA, Ser 2025-28, Cl FW | &nbsp;&nbsp;&nbsp;GNMA, Ser 2025-28, Cl FW |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.490%, SOFR30A + 0.850%, 04/20/54 (A) | 20803530 | 20881997 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2025-71, Cl HT | &nbsp;&nbsp;&nbsp;GNMA, Ser 2025-71, Cl HT | &nbsp;&nbsp;&nbsp;GNMA, Ser 2025-71, Cl HT |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/20/55 | 46880988 | 46670887 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 212, Cl AE | &nbsp;&nbsp;&nbsp;GNMA, Ser 212, Cl AE | &nbsp;&nbsp;&nbsp;GNMA, Ser 212, Cl AE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 01/16/68 | 99669357 | 95795409 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 29, Cl AH | &nbsp;&nbsp;&nbsp;GNMA, Ser 29, Cl AH | &nbsp;&nbsp;&nbsp;GNMA, Ser 29, Cl AH |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 10/16/60 | 32819099 | 31779580 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 39, Cl AJ | &nbsp;&nbsp;&nbsp;GNMA, Ser 39, Cl AJ | &nbsp;&nbsp;&nbsp;GNMA, Ser 39, Cl AJ |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 12/16/65 | 42934101 | 41650977 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 57, Cl PT | &nbsp;&nbsp;&nbsp;GNMA, Ser 57, Cl PT | &nbsp;&nbsp;&nbsp;GNMA, Ser 57, Cl PT |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 03/16/66 (A) | 49953038 | 47824384 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 70, Cl PT | &nbsp;&nbsp;&nbsp;GNMA, Ser 70, Cl PT | &nbsp;&nbsp;&nbsp;GNMA, Ser 70, Cl PT |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 03/16/66 (A) | 50000000 | 47946510 |
|  |  | 1478665962 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![](fp0099434_01.jpg) | ![](fp0099434_02.jpg) |

---

**FROST TOTAL RETURN BOND FUND April 30, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Description** | **Face Amount** | **Value** |
| **Commercial Mortgage-Backed Obligation — 4.6%** | **Commercial Mortgage-Backed Obligation — 4.6%** | **Commercial Mortgage-Backed Obligation — 4.6%** |
| &nbsp;&nbsp;&nbsp;280 Park Avenue Mortgage Trust, Ser 2017-280P, Cl F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.788%, TSFR1M + 3.127%, 09/15/34 (A)(B) | $12500000 | $12236094 |
| &nbsp;&nbsp;&nbsp;Bear Stearns Commercial Mortgage Securities Trust, Ser 2007-T26, Cl AJ |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.566%, 01/12/45 (A) | 37913 | 37658 |
| &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust, Ser 2020-B18, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.250%, 07/15/53 (B) | 8000000 | 4314970 |
| &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust, Ser 2020-B21, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 12/17/53 (B) | 13000000 | 9038797 |
| &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust, Ser 2020-IG3, Cl A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.437%, 09/15/48 (B) | 10000000 | 8572122 |
| &nbsp;&nbsp;&nbsp;BX Commercial Mortgage Trust, Ser 2020-VIV3, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.662%, 03/09/44 (A)(B) | 8000000 | 7518480 |
| &nbsp;&nbsp;&nbsp;BXMT, Ser 2020-FL2, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.932%, TSFR1M + 1.264%, 02/15/38 (A)(B) | 335681 | 335445 |
| &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust, Ser 2015-GC31, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.630%, 06/10/48 (A) | 5000000 | 935505 |
| &nbsp;&nbsp;&nbsp;COMM Mortgage Trust, Ser 2015-DC1, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.424%, 02/10/48 (A)(B) | 9000000 | 6119516 |
| &nbsp;&nbsp;&nbsp;CSMC Trust, Ser 2019-AFC1, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.573%, 07/25/49 (B)(E) | 1185401 | 1154176 |
| &nbsp;&nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Ser 2024-PJ3, Cl B2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.771%, 08/25/54 (A)(B) | 4792839 | 4659981 |
| &nbsp;&nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Ser 2024-PJ5, Cl A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 09/25/54 (A)(B) | 9660688 | 9870779 |
| &nbsp;&nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Ser 2024-RPL2, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.111%, 07/25/61 (A)(B) | 15000000 | 14639548 |
| &nbsp;&nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Ser 2025-NQM2, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.800%, 06/25/65 (B)(E) | 3604098 | 3626837 |
| &nbsp;&nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Ser 2025-PJ11, Cl A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/25/56 (A)(B) | 8705128 | 8629062 |
| &nbsp;&nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Ser 2025-PJ2, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 07/25/55 (A)(B) | 21203199 | 21366358 |
| &nbsp;&nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Ser 2025-PJ6, Cl A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 11/25/55 (A)(B) | 5463902 | 5462650 |
| &nbsp;&nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Ser 2025-PJ7, Cl A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 12/25/55 (A)(B) | 7509935 | 7508879 |
| &nbsp;&nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Ser 2025-PJ8, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/25/56 (A)(B) | 7179868 | 7021968 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Face Amount** | **Face Amount** | **Value** | **Value** |
| &nbsp;&nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Ser 2026-PJ1, Cl A2 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/25/56 (A)(B) | $| 7026788 | $| 6889822 |
| &nbsp;&nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Ser 2026-PJ6, Cl A1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 09/25/56 (A)(B) |  | 13000000 |  | 12938556 |
| &nbsp;&nbsp;&nbsp;Hudson Yards Mortgage Trust, Ser 2019-30HY, Cl B |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.380%, 07/10/39 (A)(B) |  | 2500000 |  | 2366638 |
| &nbsp;&nbsp;&nbsp;JPMDB Commercial Mortgage Securities Trust, Ser 2016-C2, Cl C |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.526%, 06/15/49 (A) |  | 4328000 |  | 2757976 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase Commercial Mortgage Securities, Ser 2007-LD12, Cl AJ |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.560%, 02/15/51 (A) |  | 74676 |  | 74504 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase Commercial Mortgage Securities, Ser 2007-LD12, Cl J |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.994%, 02/15/51 (A)(F)(G) |  | 1000000 |  |  |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust, Ser 2016-C29, Cl C |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.739%, 05/15/49 (A) |  | 2413000 |  | 2232049 |
| &nbsp;&nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2026-5, Cl A1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 05/25/56 (A)(B) |  | 20000000 |  | 19903643 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, Ser 2016-C32, Cl D |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.788%, 01/15/59 (A)(B) |  | 347483 |  | 340495 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, Ser 2018-AUS, Cl A |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.194%, 08/17/36 (A)(B) |  | 5000000 |  | 4898769 |
| &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust, Ser 2014-C25, Cl D |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.803%, 11/15/47 (A)(B) |  | 3111755 |  | 3047809 |
|  |  |  |  | 188499086 |
| **Non-Agency Residential Mortgage-Backed Obligation — 5.4%** | **Non-Agency Residential Mortgage-Backed Obligation — 5.4%** | **Non-Agency Residential Mortgage-Backed Obligation — 5.4%** | **Non-Agency Residential Mortgage-Backed Obligation — 5.4%** | **Non-Agency Residential Mortgage-Backed Obligation — 5.4%** |
| &nbsp;&nbsp;&nbsp;Angel Oak Mortgage Trust, Ser 2021-4, Cl A3 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.446%, 01/20/65 (A)(B) |  | 1498048 |  | 1280656 |
| &nbsp;&nbsp;&nbsp;Brean Asset Backed Securities Trust, Ser 2023-RM7, Cl A1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 03/25/78 (A)(B) |  | 6755896 |  | 6673823 |
| &nbsp;&nbsp;&nbsp;Brean Asset Backed Securities Trust, Ser 2024-RM9, Cl A1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/25/64 (B) |  | 4131925 |  | 4110630 |
| &nbsp;&nbsp;&nbsp;Brean Asset Backed Securities Trust, Ser 2025-RM11, Cl A2 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 05/25/65 (A)(B) |  | 8000000 |  | 7723196 |
| &nbsp;&nbsp;&nbsp;Brean Asset Backed Securities Trust, Ser 2025-RM12, Cl A2 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 07/25/65 (B) |  | 5010860 |  | 4782498 |
| &nbsp;&nbsp;&nbsp;Brean Asset Backed Securities Trust, Ser 2026-RM14, Cl A2 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 01/25/66 (B) |  | 3000000 |  | 2814899 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![](fp0099434_01.jpg) | ![](fp0099434_02.jpg) |

---

**FROST TOTAL RETURN BOND FUND April 30, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Description** | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Carrington Mortgage Loan Trust, Ser 2007-FRE1, Cl M8 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.461%, US0001M + 2.250%, 02/25/37 (A)(F)(G) | $1000000 | $— |
| &nbsp;&nbsp;&nbsp;Chase Home Lending Mortgage Trust, Ser 2024-2, Cl A6 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 02/25/55 (A)(B) | 3690205 | 3711693 |
| &nbsp;&nbsp;&nbsp;Chase Home Lending Mortgage Trust, Ser 2025-2, Cl A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 12/25/55 (A)(B) | 15000000 | 14983619 |
| &nbsp;&nbsp;&nbsp;Chase Home Lending Mortgage Trust, Ser 2025-3, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 02/25/56 (A)(B) | 6510565 | 6496581 |
| &nbsp;&nbsp;&nbsp;Chase Home Lending Mortgage Trust, Ser 2025-5, Cl A4A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 04/25/56 (A)(B) | 4793236 | 4792012 |
| &nbsp;&nbsp;&nbsp;FirstKey Mortgage Trust, Ser 2015-1, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 03/25/45 (A)(B) | 667383 | 625152 |
| &nbsp;&nbsp;&nbsp;FIVE Mortgage Trust, Ser V1, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.559%, 02/10/56 (A)(B) | 2772000 | 2599546 |
| &nbsp;&nbsp;&nbsp;Galton Funding Mortgage Trust, Ser 2019-1, Cl A22 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 02/25/59 (A)(B) | 57856 | 54927 |
| &nbsp;&nbsp;&nbsp;Galton Funding Mortgage Trust, Ser 2019-2, Cl A21 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/25/59 (A)(B) | 710627 | 663649 |
| &nbsp;&nbsp;&nbsp;JP Morgan Mortgage Trust Series, Ser 2024-3, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 05/25/54 (A)(B) | 8222402 | 7125229 |
| &nbsp;&nbsp;&nbsp;JP Morgan Mortgage Trust Series, Ser 2025-CES1, Cl M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.267%, 05/25/55 (A)(B) | 2339000 | 2349342 |
| &nbsp;&nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2024-2, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 08/25/54 (A)(B) | 2337180 | 2353704 |
| &nbsp;&nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2024-2, Cl B2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.266%, 08/25/54 (A)(B) | 9991481 | 10529585 |
| &nbsp;&nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2024-7, Cl A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 04/25/53 (A)(B) | 10187005 | 9158551 |
| &nbsp;&nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2024-9, Cl A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 02/25/55 (A)(B) | 1034122 | 1034431 |
| &nbsp;&nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2024-9, Cl A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 02/25/55 (A)(B) | 10700000 | 10695410 |
| &nbsp;&nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2025-1, Cl A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 06/25/55 (A)(B) | 12206866 | 12265490 |
| &nbsp;&nbsp;&nbsp;MFA Trust, Ser 2022-INV1, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 04/25/66 (A)(B) | 4000000 | 3696384 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Residential Mortgage Loan Trust, Ser 2024-NQM5, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.649%, 10/25/69 (A)(B) | 2744518 | 2759963 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Face Amount** | **Face Amount** | **Value** | **Value** |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Residential Mortgage Loan Trust, Ser 2025-NQM1, Cl A2 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.941%, 11/25/69 (B)(E) | $| 3039355 | $| 3069255 |
| &nbsp;&nbsp;&nbsp;PRET Trust, Ser 2025-NPL4, Cl A1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.368%, 04/25/55 (B)(E) |  | 3622824 |  | 3627202 |
| &nbsp;&nbsp;&nbsp;PRET Trust, Ser 2025-RPL2, Cl A1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/25/64 (B)(E) |  | 4499450 |  | 4367777 |
| &nbsp;&nbsp;&nbsp;PRET Trust, Ser 2025-RPL3, Cl M2 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.150%, 04/25/65 (B)(E) |  | 5838200 |  | 5355149 |
| &nbsp;&nbsp;&nbsp;Rate Mortgage Trust, Ser 2025-J1, Cl A1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 03/25/55 (A)(B) |  | 14458089 |  | 14569344 |
| &nbsp;&nbsp;&nbsp;RCKT Mortgage Trust, Ser 2025-1, Cl A1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 03/25/55 (A)(B) |  | 2756849 |  | 2778063 |
| &nbsp;&nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2024-5, Cl A1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 06/25/54 (A)(B) |  | 3374732 |  | 3448122 |
| &nbsp;&nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2024-9, Cl A5 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 10/25/54 (A)(B) |  | 3491568 |  | 3488523 |
| &nbsp;&nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2025-1, Cl A4 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 01/25/55 (A)(B) |  | 7223337 |  | 7246678 |
| &nbsp;&nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2025-12, Cl A4 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 12/25/55 (A)(B) |  | 4208341 |  | 4199159 |
| &nbsp;&nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2025-2, Cl A4 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 03/25/55 (A)(B) |  | 10603563 |  | 10635644 |
| &nbsp;&nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2025-3, Cl A2 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 04/25/55 (A)(B) |  | 9105073 |  | 9085516 |
| &nbsp;&nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2025-6, Cl A2 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 07/25/55 (A)(B) |  | 4204180 |  | 4182116 |
| &nbsp;&nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2025-9, Cl A2 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/25/55 (A)(B) |  | 7800042 |  | 7628503 |
| &nbsp;&nbsp;&nbsp;Toorak Mortgage Trust, Ser 2024-2, Cl A1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.329%, 10/25/31 (B)(E) |  | 5000000 |  | 5022560 |
| &nbsp;&nbsp;&nbsp;Toorak Mortgage Trust, Ser 2024-RRTL1, Cl M1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.162%, 02/25/39 (A)(B) |  | 1500000 |  | 1503014 |
| &nbsp;&nbsp;&nbsp;Toorak Mortgage Trust, Ser 2024-RRTL2, Cl A1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.504%, 09/25/39 (B)(E) |  | 7000000 |  | 7016905 |
|  |  |  |  | 220504500 |
| Total Mortgage-Backed Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $1,879,714,745) |  |  |  | 1887669548 |
| **U.S. TREASURY OBLIGATIONS — 20.6%** | **U.S. TREASURY OBLIGATIONS — 20.6%** | **U.S. TREASURY OBLIGATIONS — 20.6%** | **U.S. TREASURY OBLIGATIONS — 20.6%** | **U.S. TREASURY OBLIGATIONS — 20.6%** |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Bonds |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.875%, 08/15/45 |  | 75000000 |  | 74074219 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![](fp0099434_01.jpg) | ![](fp0099434_02.jpg) |

---

**FROST TOTAL RETURN BOND FUND April 30, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Face Amount** | **Face Amount** | **Value** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 11/15/43 | $| 100000000 | $| 97914062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.625%, 11/15/44 to 11/15/45 |  | 310000000 |  | 297064452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.125%, 08/15/44 |  | 115000000 |  | 103392187 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Notes |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375%, 01/31/32 |  | 100000000 |  | 101347656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 05/15/35 |  | 125000000 |  | 124067383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.125%, 02/15/36 |  | 25000000 |  | 24472656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.750%, 02/28/33 |  | 25000000 |  | 24339844 |
| Total U.S. Treasury Obligations |  |  |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $865,562,025) |  |  |  | 846672459 |
| **CORPORATE OBLIGATIONS — 16.2%** | **CORPORATE OBLIGATIONS — 16.2%** | **CORPORATE OBLIGATIONS — 16.2%** | **CORPORATE OBLIGATIONS — 16.2%** | **CORPORATE OBLIGATIONS — 16.2%** |
| **Communication Services — 1.3%** | **Communication Services — 1.3%** | **Communication Services — 1.3%** | **Communication Services — 1.3%** | **Communication Services — 1.3%** |
| &nbsp;&nbsp;&nbsp;OT Midco | &nbsp;&nbsp;&nbsp;OT Midco | &nbsp;&nbsp;&nbsp;OT Midco | &nbsp;&nbsp;&nbsp;OT Midco | &nbsp;&nbsp;&nbsp;OT Midco |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.000%, 02/15/30(B) |  | 92000000 |  | 35880000 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA | &nbsp;&nbsp;&nbsp;T-Mobile USA | &nbsp;&nbsp;&nbsp;T-Mobile USA | &nbsp;&nbsp;&nbsp;T-Mobile USA | &nbsp;&nbsp;&nbsp;T-Mobile USA |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.700%, 12/15/33 |  | 13679000 |  | 15010080 |
|  |  |  |  | 50890080 |
| **Consumer Dicretionary — 0.0%** | **Consumer Dicretionary — 0.0%** | **Consumer Dicretionary — 0.0%** | **Consumer Dicretionary — 0.0%** | **Consumer Dicretionary — 0.0%** |
| &nbsp;&nbsp;&nbsp;Industrial F&B Investments III | &nbsp;&nbsp;&nbsp;Industrial F&B Investments III | &nbsp;&nbsp;&nbsp;Industrial F&B Investments III | &nbsp;&nbsp;&nbsp;Industrial F&B Investments III | &nbsp;&nbsp;&nbsp;Industrial F&B Investments III |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.750%, 02/11/33 (B) |  | 1000000 |  | 1010506 |
| **Consumer Discretionary — 0.7%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Choice Hotels International | &nbsp;&nbsp;&nbsp;Choice Hotels International | &nbsp;&nbsp;&nbsp;Choice Hotels International | &nbsp;&nbsp;&nbsp;Choice Hotels International | &nbsp;&nbsp;&nbsp;Choice Hotels International |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.700%, 01/15/31 |  | 3000000 |  | 2812556 |
| &nbsp;&nbsp;&nbsp;Cornell University | &nbsp;&nbsp;&nbsp;Cornell University | &nbsp;&nbsp;&nbsp;Cornell University | &nbsp;&nbsp;&nbsp;Cornell University | &nbsp;&nbsp;&nbsp;Cornell University |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.835%, 06/15/34 |  | 2000000 |  | 2015793 |
| &nbsp;&nbsp;&nbsp;Ford Motor Credit | &nbsp;&nbsp;&nbsp;Ford Motor Credit | &nbsp;&nbsp;&nbsp;Ford Motor Credit | &nbsp;&nbsp;&nbsp;Ford Motor Credit | &nbsp;&nbsp;&nbsp;Ford Motor Credit |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.869%, 10/31/35 |  | 5000000 |  | 4872019 |
| &nbsp;&nbsp;&nbsp;JBS USA Holding Lux Sarl | &nbsp;&nbsp;&nbsp;JBS USA Holding Lux Sarl | &nbsp;&nbsp;&nbsp;JBS USA Holding Lux Sarl | &nbsp;&nbsp;&nbsp;JBS USA Holding Lux Sarl | &nbsp;&nbsp;&nbsp;JBS USA Holding Lux Sarl |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.250%, 11/15/53 |  | 4863000 |  | 5302187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.750%, 03/15/34 |  | 926000 |  | 1006357 |
| &nbsp;&nbsp;&nbsp;Nissan Motor Acceptance | &nbsp;&nbsp;&nbsp;Nissan Motor Acceptance | &nbsp;&nbsp;&nbsp;Nissan Motor Acceptance | &nbsp;&nbsp;&nbsp;Nissan Motor Acceptance | &nbsp;&nbsp;&nbsp;Nissan Motor Acceptance |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.050%, 09/15/28(B) |  | 2000000 |  | 2051041 |
| &nbsp;&nbsp;&nbsp;STL Holding | &nbsp;&nbsp;&nbsp;STL Holding | &nbsp;&nbsp;&nbsp;STL Holding | &nbsp;&nbsp;&nbsp;STL Holding | &nbsp;&nbsp;&nbsp;STL Holding |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.750%, 02/15/29(B) |  | 8600000 |  | 8923962 |
| &nbsp;&nbsp;&nbsp;Velocity Vehicle Group | &nbsp;&nbsp;&nbsp;Velocity Vehicle Group | &nbsp;&nbsp;&nbsp;Velocity Vehicle Group | &nbsp;&nbsp;&nbsp;Velocity Vehicle Group | &nbsp;&nbsp;&nbsp;Velocity Vehicle Group |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.000%, 06/01/29(B) |  | 2000000 |  | 1968085 |
|  |  |  |  | 28952000 |
| **Consumer Staples — 0.1%** | **Consumer Staples — 0.1%** | **Consumer Staples — 0.1%** | **Consumer Staples — 0.1%** | **Consumer Staples — 0.1%** |
| &nbsp;&nbsp;&nbsp;JBS USA Holding Lux Sarl | &nbsp;&nbsp;&nbsp;JBS USA Holding Lux Sarl | &nbsp;&nbsp;&nbsp;JBS USA Holding Lux Sarl | &nbsp;&nbsp;&nbsp;JBS USA Holding Lux Sarl | &nbsp;&nbsp;&nbsp;JBS USA Holding Lux Sarl |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 12/01/52 |  | 5000000 |  | 5014545 |
| **Energy — 3.3%** | **Energy — 3.3%** | **Energy — 3.3%** | **Energy — 3.3%** | **Energy — 3.3%** |
| &nbsp;&nbsp;&nbsp;Aircastle | &nbsp;&nbsp;&nbsp;Aircastle | &nbsp;&nbsp;&nbsp;Aircastle | &nbsp;&nbsp;&nbsp;Aircastle | &nbsp;&nbsp;&nbsp;Aircastle |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, H15T5Y + 4.410%, 09/15/74(A)(B) |  | 14347000 |  | 14321900 |
| &nbsp;&nbsp;&nbsp;APA | &nbsp;&nbsp;&nbsp;APA | &nbsp;&nbsp;&nbsp;APA | &nbsp;&nbsp;&nbsp;APA | &nbsp;&nbsp;&nbsp;APA |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.750%, 12/15/29 |  | 4138000 |  | 4535331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 01/15/37 |  | 250000 |  | 253888 |
| &nbsp;&nbsp;&nbsp;Avation Group S Pte MTN | &nbsp;&nbsp;&nbsp;Avation Group S Pte MTN | &nbsp;&nbsp;&nbsp;Avation Group S Pte MTN | &nbsp;&nbsp;&nbsp;Avation Group S Pte MTN | &nbsp;&nbsp;&nbsp;Avation Group S Pte MTN |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.500%, 05/15/31(B) |  | 2000000 |  | 1868070 |
| &nbsp;&nbsp;&nbsp;Barclays | &nbsp;&nbsp;&nbsp;Barclays | &nbsp;&nbsp;&nbsp;Barclays | &nbsp;&nbsp;&nbsp;Barclays | &nbsp;&nbsp;&nbsp;Barclays |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.625%, USISSO05 + 5.775%, 03/15/75(A) |  | 5000000 |  | 5579800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.692%, SOFR + 2.620%, 09/13/34(A) |  | 2000000 |  | 2165519 |
| &nbsp;&nbsp;&nbsp;CrossCountry Intermediate HoldCo |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 10/01/30(B) |  | 2000000 |  | 1964911 |

---

---

| | | |
|:---|:---|:---|
| **Description** | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Howden UK Refinance | &nbsp;&nbsp;&nbsp;Howden UK Refinance | &nbsp;&nbsp;&nbsp;Howden UK Refinance |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.125%, 02/15/32(B) | 5075000 | 4847627 |
| &nbsp;&nbsp;&nbsp;New England Power | &nbsp;&nbsp;&nbsp;New England Power | &nbsp;&nbsp;&nbsp;New England Power |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.807%, 10/06/50(B) | 5000000 | 3002474 |
| &nbsp;&nbsp;&nbsp;Paratus Energy Services | &nbsp;&nbsp;&nbsp;Paratus Energy Services | &nbsp;&nbsp;&nbsp;Paratus Energy Services |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.500%, 06/27/29 | 5000000 | 5182257 |
| &nbsp;&nbsp;&nbsp;PBF Holding | &nbsp;&nbsp;&nbsp;PBF Holding | &nbsp;&nbsp;&nbsp;PBF Holding |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.875%, 03/15/30(B) | 6264000 | 6730756 |
| &nbsp;&nbsp;&nbsp;Phillips 66 | &nbsp;&nbsp;&nbsp;Phillips 66 | &nbsp;&nbsp;&nbsp;Phillips 66 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.875%, H15T5Y + 2.283%, 03/15/56(A) | 25000000 | 24918917 |
| &nbsp;&nbsp;&nbsp;Telford Finco | &nbsp;&nbsp;&nbsp;Telford Finco | &nbsp;&nbsp;&nbsp;Telford Finco |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.000%, 11/06/29 | 1755083 | 1811410 |
| &nbsp;&nbsp;&nbsp;Topaz Solar Farms | &nbsp;&nbsp;&nbsp;Topaz Solar Farms | &nbsp;&nbsp;&nbsp;Topaz Solar Farms |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.750%, 09/30/39(B) | 35269277 | 35181104 |
| &nbsp;&nbsp;&nbsp;Waldorf Energy Finance | &nbsp;&nbsp;&nbsp;Waldorf Energy Finance | &nbsp;&nbsp;&nbsp;Waldorf Energy Finance |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.000%, 09/02/74 | 1832387 | 423281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 12/02/74(C) | 24427 | 5643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 12/02/74(C) | 68715 | 15873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 12/02/74(C) | 814237 | 188089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 06/02/74(C) | 224563 | 51874 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 06/02/74(C) | 68715 | 15873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 07/01/74(C) | 5336964 | 1232839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 07/01/74(C) | 72359 | 16715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 09/02/74(C) | 68715 | 15873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 09/02/74(C) | 1334241 | 308210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 09/02/74(C) | 64454 | 14889 |
| &nbsp;&nbsp;&nbsp;Waldorf Production UK | &nbsp;&nbsp;&nbsp;Waldorf Production UK | &nbsp;&nbsp;&nbsp;Waldorf Production UK |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 09/02/74(C) | 11021065 | 11021065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 09/02/74(C) | 10732998 | 6600794 |
|  |  | 132274982 |
| **Financials — 5.7%** | **Financials — 5.7%** | **Financials — 5.7%** |
| &nbsp;&nbsp;&nbsp;Ares Capital | &nbsp;&nbsp;&nbsp;Ares Capital | &nbsp;&nbsp;&nbsp;Ares Capital |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 04/12/31 | 5000000 | 4863274 |
| &nbsp;&nbsp;&nbsp;BAC Capital Trust XIV | &nbsp;&nbsp;&nbsp;BAC Capital Trust XIV | &nbsp;&nbsp;&nbsp;BAC Capital Trust XIV |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.336%, TSFR3M + 0.662%, 09/15/74(A) | 13738000 | 11430891 |
| &nbsp;&nbsp;&nbsp;Bain Capital Specialty Finance | &nbsp;&nbsp;&nbsp;Bain Capital Specialty Finance | &nbsp;&nbsp;&nbsp;Bain Capital Specialty Finance |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.950%, 03/01/31 | 10000000 | 9684602 |
| &nbsp;&nbsp;&nbsp;Banco Santander | &nbsp;&nbsp;&nbsp;Banco Santander | &nbsp;&nbsp;&nbsp;Banco Santander |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.625%, H15T5Y + 5.298%, 02/21/75(A) | 5000000 | 5936980 |
| &nbsp;&nbsp;&nbsp;Barclays | &nbsp;&nbsp;&nbsp;Barclays | &nbsp;&nbsp;&nbsp;Barclays |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.000%, H15T5Y + 5.431%, 12/15/74(A) | 30250000 | 31748797 |
| &nbsp;&nbsp;&nbsp;Blue Owl Technology Finance | &nbsp;&nbsp;&nbsp;Blue Owl Technology Finance | &nbsp;&nbsp;&nbsp;Blue Owl Technology Finance |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.125%, 01/23/31 | 15000000 | 14442491 |
| &nbsp;&nbsp;&nbsp;Cantor Fitzgerald | &nbsp;&nbsp;&nbsp;Cantor Fitzgerald | &nbsp;&nbsp;&nbsp;Cantor Fitzgerald |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.200%, 12/12/28(B) | 1000000 | 1043946 |
| &nbsp;&nbsp;&nbsp;Citigroup | &nbsp;&nbsp;&nbsp;Citigroup | &nbsp;&nbsp;&nbsp;Citigroup |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.174%, SOFR + 2.661%, 05/25/34(A) | 5000000 | 5208935 |
| &nbsp;&nbsp;&nbsp;Credit Suisse Group | &nbsp;&nbsp;&nbsp;Credit Suisse Group | &nbsp;&nbsp;&nbsp;Credit Suisse Group |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.100%, H15T5Y + 3.293%, 07/24/74(G) | 10000000 | 2400000 |
| &nbsp;&nbsp;&nbsp;Danske Bank | &nbsp;&nbsp;&nbsp;Danske Bank | &nbsp;&nbsp;&nbsp;Danske Bank |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.705%, H15T1Y + 1.400%, 03/01/30(A)(B) | 5000000 | 5138262 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![](fp0099434_01.jpg) | ![](fp0099434_02.jpg) |

---

**FROST TOTAL RETURN BOND FUND April 30, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Description** | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Deutsche Bank NY | &nbsp;&nbsp;&nbsp;Deutsche Bank NY | &nbsp;&nbsp;&nbsp;Deutsche Bank NY |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.079%, SOFR + 3.650%, 02/10/34(A) | 10000000 | 10750438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.742%, SOFR + 2.257%, 01/07/33(A) | 2000000 | 1825464 |
| &nbsp;&nbsp;&nbsp;F&G Annuities & Life | &nbsp;&nbsp;&nbsp;F&G Annuities & Life | &nbsp;&nbsp;&nbsp;F&G Annuities & Life |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.400%, 01/13/28 | 7000000 | 7139011 |
| &nbsp;&nbsp;&nbsp;Farmers Exchange Capital | &nbsp;&nbsp;&nbsp;Farmers Exchange Capital | &nbsp;&nbsp;&nbsp;Farmers Exchange Capital |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.200%, 07/15/48(B) | 3000000 | 3004602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.050%, 07/15/28(B) | 11075000 | 11463484 |
| &nbsp;&nbsp;&nbsp;FS KKR Capital | &nbsp;&nbsp;&nbsp;FS KKR Capital | &nbsp;&nbsp;&nbsp;FS KKR Capital |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.125%, 01/15/31 | 10000000 | 9659386 |
| &nbsp;&nbsp;&nbsp;Intesa Sanpaolo MTN | &nbsp;&nbsp;&nbsp;Intesa Sanpaolo MTN | &nbsp;&nbsp;&nbsp;Intesa Sanpaolo MTN |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 09/23/29(B) | 5000000 | 4891922 |
| &nbsp;&nbsp;&nbsp;Jefferies Financial Group MTN | &nbsp;&nbsp;&nbsp;Jefferies Financial Group MTN | &nbsp;&nbsp;&nbsp;Jefferies Financial Group MTN |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 04/16/46 | 11000000 | 10923859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 09/16/36 | 4732000 | 4641465 |
| &nbsp;&nbsp;&nbsp;KeyBank MTN | &nbsp;&nbsp;&nbsp;KeyBank MTN | &nbsp;&nbsp;&nbsp;KeyBank MTN |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/26/33 | 5000000 | 4951252 |
| &nbsp;&nbsp;&nbsp;KeyCorp | &nbsp;&nbsp;&nbsp;KeyCorp | &nbsp;&nbsp;&nbsp;KeyCorp |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.401%, SOFRINDX + 2.420%, 03/06/35(A) | 5000000 | 5315736 |
| &nbsp;&nbsp;&nbsp;Old National Bancorp | &nbsp;&nbsp;&nbsp;Old National Bancorp | &nbsp;&nbsp;&nbsp;Old National Bancorp |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.768%, TSFR3M + 2.200%, 02/15/36(A) | 2000000 | 1996244 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada MTN | &nbsp;&nbsp;&nbsp;Royal Bank of Canada MTN | &nbsp;&nbsp;&nbsp;Royal Bank of Canada MTN |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.750%, 10/30/30(A) | 5000000 | 4832000 |
| &nbsp;&nbsp;&nbsp;SBL Holdings | &nbsp;&nbsp;&nbsp;SBL Holdings | &nbsp;&nbsp;&nbsp;SBL Holdings |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.508%, H15T5Y + 5.580%, 05/13/74(A)(B) | 2500000 | 2363989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, H15T5Y + 5.620%, 11/13/74(A)(B) | 50195000 | 45373453 |
| &nbsp;&nbsp;&nbsp;Societe Generale | &nbsp;&nbsp;&nbsp;Societe Generale | &nbsp;&nbsp;&nbsp;Societe Generale |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.125%, H15T5Y + 3.790%, 05/21/74(A)(B) | 4000000 | 4221372 |
| &nbsp;&nbsp;&nbsp;Synovus Bank | &nbsp;&nbsp;&nbsp;Synovus Bank | &nbsp;&nbsp;&nbsp;Synovus Bank |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.625%, 02/15/28 | 8000000 | 8059614 |
| &nbsp;&nbsp;&nbsp;US Bancorp | &nbsp;&nbsp;&nbsp;US Bancorp | &nbsp;&nbsp;&nbsp;US Bancorp |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.836%, SOFR + 2.260%, 06/12/34(A) | 4000000 | 4177691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.700%, H15T5Y + 2.541%, 01/15/75(A) | 3273000 | 3221329 |
|  |  | 240710489 |
| **Health Care — 0.1%** | **Health Care — 0.1%** | **Health Care — 0.1%** |
| &nbsp;&nbsp;&nbsp;DENTSPLY SIRONA | &nbsp;&nbsp;&nbsp;DENTSPLY SIRONA | &nbsp;&nbsp;&nbsp;DENTSPLY SIRONA |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.375%, H15T5Y + 4.379%, 09/12/55 (A) | 5000000 | 5026805 |
| **Industrials — 2.8%** | **Industrials — 2.8%** | **Industrials — 2.8%** |
| &nbsp;&nbsp;&nbsp;Boeing | &nbsp;&nbsp;&nbsp;Boeing | &nbsp;&nbsp;&nbsp;Boeing |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.008%, 05/01/64 | 38598000 | 43113227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.930%, 05/01/60 | 31000000 | 30014316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.875%, 02/15/40 | 15355000 | 15555550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.705%, 05/01/40 | 5000000 | 5048429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.950%, 02/01/30 | 3344000 | 3160267 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe | &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe | &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.290%, 06/01/36 | 5000000 | 5955300 |
| &nbsp;&nbsp;&nbsp;nVent Finance Sarl | &nbsp;&nbsp;&nbsp;nVent Finance Sarl | &nbsp;&nbsp;&nbsp;nVent Finance Sarl |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.650%, 05/15/33 | 3000000 | 3076303 |
| &nbsp;&nbsp;&nbsp;Regal Rexnord | &nbsp;&nbsp;&nbsp;Regal Rexnord | &nbsp;&nbsp;&nbsp;Regal Rexnord |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.300%, 02/15/30 | 4500000 | 4708796 |

---

---

| | | |
|:---|:---|:---|
| **Description** | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Twma Finance | &nbsp;&nbsp;&nbsp;Twma Finance | &nbsp;&nbsp;&nbsp;Twma Finance |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.250%, 02/10/29(B) | 4700000 | 4770500 |
|  |  | 115402688 |
| **Information Technology — 1.5%** | **Information Technology — 1.5%** | **Information Technology — 1.5%** |
| &nbsp;&nbsp;&nbsp;Kyndryl Holdings | &nbsp;&nbsp;&nbsp;Kyndryl Holdings | &nbsp;&nbsp;&nbsp;Kyndryl Holdings |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.350%, 02/20/34 | 20642000 | 20045278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.100%, 10/15/41 | 26981000 | 19374815 |
| &nbsp;&nbsp;&nbsp;Oracle | &nbsp;&nbsp;&nbsp;Oracle | &nbsp;&nbsp;&nbsp;Oracle |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.100%, 09/26/65 | 25104000 | 20738956 |
|  |  | 60159049 |
| **Materials — 0.5%** | **Materials — 0.5%** | **Materials — 0.5%** |
| &nbsp;&nbsp;&nbsp;Brightstar Resources | &nbsp;&nbsp;&nbsp;Brightstar Resources | &nbsp;&nbsp;&nbsp;Brightstar Resources |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.500%, 03/18/30(B) | 2000000 | 1953665 |
| &nbsp;&nbsp;&nbsp;Hillgrove Mines Pty | &nbsp;&nbsp;&nbsp;Hillgrove Mines Pty | &nbsp;&nbsp;&nbsp;Hillgrove Mines Pty |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.000%, 08/01/29 | 1000000 | 1040000 |
| &nbsp;&nbsp;&nbsp;Nacional del Cobre de Chile | &nbsp;&nbsp;&nbsp;Nacional del Cobre de Chile | &nbsp;&nbsp;&nbsp;Nacional del Cobre de Chile |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.150%, 01/15/51(B) | 500000 | 317572 |
| &nbsp;&nbsp;&nbsp;Newco Holding Eur 29 Sarl | &nbsp;&nbsp;&nbsp;Newco Holding Eur 29 Sarl | &nbsp;&nbsp;&nbsp;Newco Holding Eur 29 Sarl |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.000%, 02/20/30(B) | 15125000 | 14280508 |
|  |  | 17591745 |
| **Utilities — 0.2%** | **Utilities — 0.2%** | **Utilities — 0.2%** |
| &nbsp;&nbsp;&nbsp;Northwest Natural Holding | &nbsp;&nbsp;&nbsp;Northwest Natural Holding | &nbsp;&nbsp;&nbsp;Northwest Natural Holding |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, H15T5Y + 2.701%, 09/15/55(A) | 2000000 | 2072834 |
| &nbsp;&nbsp;&nbsp;Sempra | &nbsp;&nbsp;&nbsp;Sempra | &nbsp;&nbsp;&nbsp;Sempra |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 10/15/39 | 6000000 | 6131733 |
|  |  | 8204567 |
| Total Corporate Obligations |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $691,544,078) |  | 665237456 |
| **ASSET-BACKED SECURITIES — 6.0%** | **ASSET-BACKED SECURITIES — 6.0%** | **ASSET-BACKED SECURITIES — 6.0%** |
| **Automotive — 4.7%** | **Automotive — 4.7%** | **Automotive — 4.7%** |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust 2026-2, Ser 2026-2, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.180%, 06/08/32 (B) | 25000000 | 24885195 |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2023-4, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.650%, 09/12/30 (B) | 15000000 | 15396064 |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2024-3, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.040%, 07/12/30 (B) | 8000000 | 8127287 |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2024-4, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.340%, 08/12/31 (B) | 5000000 | 5028925 |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2025-1, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.090%, 08/12/31 (B) | 15000000 | 15073282 |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2025-2, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 08/12/31 (B) | 14000000 | 14104665 |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2025-3, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.190%, 07/12/32 (B) | 10000000 | 10008494 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![](fp0099434_01.jpg) | ![](fp0099434_02.jpg) |

---

**FROST TOTAL RETURN BOND FUND April 30, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Face Amount** | **Face Amount** | **Value** | **Value** |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2025-4, Cl D |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 09/12/31 (B) | $| 20000000 | $| 19974464 |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2026-1, Cl D |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.100%, 01/12/33 (B) |  | 15000000 |  | 14902691 |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2026-2, Cl E |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.900%, 02/08/34 (B) |  | 16000000 |  | 15891695 |
| &nbsp;&nbsp;&nbsp;Avid Automobile Receivables Trust, Ser 2023-1, Cl E |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.140%, 05/15/29 (B) |  | 5595000 |  | 5820999 |
| &nbsp;&nbsp;&nbsp;CarNow Auto Receivables Trust, Ser 2023-1A, Cl E |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.040%, 04/16/29 (B) |  | 5000000 |  | 346759 |
| &nbsp;&nbsp;&nbsp;First Investors Auto Owner Trust, Ser 2023-1A, Cl D |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.740%, 01/15/31 (B) |  | 9000000 |  | 9322100 |
| &nbsp;&nbsp;&nbsp;Flagship Credit Auto Trust, Ser 2020-1, Cl E |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.520%, 06/15/27 (B) |  | 1804208 |  | 1802744 |
| &nbsp;&nbsp;&nbsp;Flagship Credit Auto Trust, Ser 2024-3, Cl C |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.410%, 09/16/30 (B) |  | 4500000 |  | 4495541 |
| &nbsp;&nbsp;&nbsp;Flagship Credit Auto Trust, Ser 2024-3, Cl D |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.110%, 09/16/30 (B) |  | 5886000 |  | 5641487 |
| &nbsp;&nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2022-1A, Cl E |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.640%, 05/15/29 (B) |  | 4000000 |  | 4029972 |
| &nbsp;&nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2022-3A, Cl E |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.350%, 10/15/29 (B) |  | 1990000 |  | 2060776 |
| &nbsp;&nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2024-3A, Cl C |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.210%, 02/18/31 (B) |  | 2250000 |  | 2269758 |
| &nbsp;&nbsp;&nbsp;Tricolor Auto Securitization Trust, Ser 2022-1A, Cl F |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.800%, 07/16/29 (B) |  | 4000000 |  | 1269144 |
| &nbsp;&nbsp;&nbsp;Tricolor Auto Securitization Trust, Ser 2023-1A, Cl F |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.000%, 06/17/30 (B) |  | 11910000 |  | 3553051 |
| &nbsp;&nbsp;&nbsp;Tricolor Auto Securitization Trust, Ser 2025-1A, Cl A |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.940%, 02/15/29 (B) |  | 5034591 |  | 3246304 |
| &nbsp;&nbsp;&nbsp;WF Card Issuance Trust, Ser 2026-A1, Cl A |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.080%, 04/15/31 |  | 5000000 |  | 4985886 |
|  |  |  |  | 192237283 |
| **Other Asset-Backed Securities — 1.3%** | **Other Asset-Backed Securities — 1.3%** | **Other Asset-Backed Securities — 1.3%** | **Other Asset-Backed Securities — 1.3%** | **Other Asset-Backed Securities — 1.3%** |
| &nbsp;&nbsp;&nbsp;Amur Equipment Finance Receivables XI, Ser 2022-2A, Cl E |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.320%, 10/22/29 (B) |  | 2600000 |  | 2621433 |
| &nbsp;&nbsp;&nbsp;Aqua Finance Trust, Ser 2024-A, Cl A |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.810%, 04/18/50 (B) |  | 1571606 |  | 1565023 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Face Amount** | **Face Amount** | **Value** | **Value** |
| &nbsp;&nbsp;&nbsp;BHG Securitization Trust, Ser 2022-B, Cl D |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.690%, 06/18/35 (B) | $| 5993367 | $| 6048429 |
| &nbsp;&nbsp;&nbsp;CAL Funding IV, Ser 2020-1A, Cl B |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 09/25/45 (B) |  | 886479 |  | 855392 |
| &nbsp;&nbsp;&nbsp;CF Hippolyta Issuer, Ser 2020-1, Cl A2 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.990%, 07/15/60 (B) |  | 5098484 |  | 4164040 |
| &nbsp;&nbsp;&nbsp;CIFC Funding, Ser 2025-2A, Cl BR |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.075%, TSFR3M + 1.400%, 04/19/35 (A)(B) |  | 9125000 |  | 9114780 |
| &nbsp;&nbsp;&nbsp;CIFC Funding, Ser 2025-4A, Cl C |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.517%, TSFR3M + 1.850%, 10/24/38 (A)(B) |  | 3000000 |  | 2998167 |
| &nbsp;&nbsp;&nbsp;Dext ABS, Ser 2025-1, Cl B |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.980%, 08/15/35 (B) |  | 5000000 |  | 5030991 |
| &nbsp;&nbsp;&nbsp;Dext ABS, Ser 2025-1, Cl D | &nbsp;&nbsp;&nbsp;Dext ABS, Ser 2025-1, Cl D | &nbsp;&nbsp;&nbsp;Dext ABS, Ser 2025-1, Cl D | &nbsp;&nbsp;&nbsp;Dext ABS, Ser 2025-1, Cl D | &nbsp;&nbsp;&nbsp;Dext ABS, Ser 2025-1, Cl D |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.650%, 02/15/36 (B) |  | 6000000 |  | 6077271 |
| &nbsp;&nbsp;&nbsp;EnFin Residential Solar Receivables Trust, Ser 2024-1A, Cl A |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.650%, 02/20/55 (B) |  | 3917783 |  | 3526770 |
| &nbsp;&nbsp;&nbsp;EnFin Residential Solar Receivables Trust, Ser 2024- 1A, Cl B |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.440%, 02/20/55 (B) |  | 3134227 |  | 2718588 |
| &nbsp;&nbsp;&nbsp;EverBright Solar Trust, Ser 2024-A, Cl B |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.130%, 06/22/54 (B) |  | 5195615 |  | 1673483 |
| &nbsp;&nbsp;&nbsp;Global SC Finance VII Srl, Ser 2020-1A, Cl A |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.170%, 10/17/40 (B) |  | 1546318 |  | 1481163 |
| &nbsp;&nbsp;&nbsp;Mosaic Solar Loan Trust, Ser 2020-2A, Cl B |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.210%, 08/20/46 (B) |  | 1702780 |  | 1375411 |
| &nbsp;&nbsp;&nbsp;VFI ABS, Ser 2023-1A, Cl B |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.780%, 08/24/29 (B) |  | 4840378 |  | 4858446 |
|  |  |  |  | 54109387 |
| **Student Loan — 0.0%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commonbond Student Loan Trust, Ser 2017-AGS, Cl A1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.550%, 05/25/41 (B) |  | 461976 |  | 443856 |
| Total Asset-Backed Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $267,786,285) |  |  |  | 246790526 |
| **COLLATERALIZED LOAN OBLIGATIONS — 2.4%** | **COLLATERALIZED LOAN OBLIGATIONS — 2.4%** | **COLLATERALIZED LOAN OBLIGATIONS — 2.4%** | **COLLATERALIZED LOAN OBLIGATIONS — 2.4%** | **COLLATERALIZED LOAN OBLIGATIONS — 2.4%** |
| &nbsp;&nbsp;&nbsp;Apidos CLO XXX, Ser 2024-XXXA, Cl BR |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.525%, TSFR3M + 1.850%, 10/18/31 (A)(B) |  | 5170000 |  | 5172730 |
| &nbsp;&nbsp;&nbsp;Battalion CLO XXIII, Ser 2024-23A, Cl DR1 | &nbsp;&nbsp;&nbsp;Battalion CLO XXIII, Ser 2024-23A, Cl DR1 | &nbsp;&nbsp;&nbsp;Battalion CLO XXIII, Ser 2024-23A, Cl DR1 | &nbsp;&nbsp;&nbsp;Battalion CLO XXIII, Ser 2024-23A, Cl DR1 | &nbsp;&nbsp;&nbsp;Battalion CLO XXIII, Ser 2024-23A, Cl DR1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.623%, TSFR3M + 3.950%, 10/15/37 (A)(B) |  | 5000000 |  | 5005725 |
| &nbsp;&nbsp;&nbsp;BSL CLO V, Ser 2024-5A, Cl B | &nbsp;&nbsp;&nbsp;BSL CLO V, Ser 2024-5A, Cl B | &nbsp;&nbsp;&nbsp;BSL CLO V, Ser 2024-5A, Cl B | &nbsp;&nbsp;&nbsp;BSL CLO V, Ser 2024-5A, Cl B | &nbsp;&nbsp;&nbsp;BSL CLO V, Ser 2024-5A, Cl B |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.375%, TSFR3M + 1.700%, 01/20/38 (A)(B) |  | 4000000 |  | 3997924 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![](fp0099434_01.jpg) | ![](fp0099434_02.jpg) |

---

**FROST TOTAL RETURN BOND FUND April 30, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Description** | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Elmwood CLO V, Ser 2024-2A, Cl D1RR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.825%, TSFR3M + 3.150%, 10/20/37 (A)(B) | $9000000 | $9000477 |
| &nbsp;&nbsp;&nbsp;Elmwood CLO XXIV, Ser 2024-3A, Cl BR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.280%, TSFR3M + 1.600%, 01/17/38 (A)(B) | 4600000 | 4600253 |
| &nbsp;&nbsp;&nbsp;LCM 42, Ser 2024-42A, Cl D1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.173%, TSFR3M + 3.500%, 01/15/38 (A)(B) | 10000000 | 10012470 |
| &nbsp;&nbsp;&nbsp;Sycamore Tree CLO, Ser 2025-6A, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.875%, TSFR3M + 1.200%, 04/20/38 (A)(B) | 27000000 | 26954829 |
| &nbsp;&nbsp;&nbsp;Sycamore Tree CLO, Ser 2025-6A, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.475%, TSFR3M + 1.800%, 04/20/38 (A)(B) | 15000000 | 14980950 |
| &nbsp;&nbsp;&nbsp;Sycamore Tree CLO, Ser 2025-7A, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.675%, TSFR3M + 2.000%, 08/28/38 (A)(B) | 5000000 | 5006660 |
| &nbsp;&nbsp;&nbsp;Venture XIX, Ser 2018-19A, Cl ARR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.195%, TSFR3M + 1.522%, 01/15/32 (A)(B) | 3241326 | 3241293 |
| &nbsp;&nbsp;&nbsp;Wind River CLO, Ser 2024-1A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.925%, TSFR3M + 4.250%, 04/20/37 (A)(B) | 10000000 | 9982500 |
| Total Collateralized Loan Obligations |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $98,011,326) |  | 97955811 |
|  | **Shares** |  |
| **COMMON STOCK — 1.6%** |  |  |
| Energy — 1.6% |  |  |
| &nbsp;&nbsp;&nbsp;Paratus Energy Services | 12000000 | 66575280 |
| Total Common Stock |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $–) |  | 66575280 |
|  | **Face Amount** |  |
| **SOVEREIGN DEBT — 1.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Colombia Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.250%, 04/22/32 | 5000000 | 4250000 |
| &nbsp;&nbsp;&nbsp;Kingdom of Belgium Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.875%, 06/10/55 | 10000000 | 8907080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.350%, 11/06/34 (B) | 40000000 | 39425758 |
| &nbsp;&nbsp;&nbsp;Provincia de Buenos Aires |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.625%, 09/01/37 (B)(E) | 297023 | 228840 |
| &nbsp;&nbsp;&nbsp;Ukraine Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 02/01/29 to 02/01/34 (E) | 2403678 | 1749319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 02/01/30 to 02/01/36 (E) | 1382113 | 702698 |
| Total Sovereign Debt |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $56,235,020) |  | 55263695 |

---

---

| | | |
|:---|:---|:---|
| **Description** | **Face Amount** | **Value** |
| **MUNICIPAL BONDS — 1.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Board of Regents of the University of Texas System, Ser C, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.794%, 08/15/46 | 4670000 | 4362382 |
| &nbsp;&nbsp;&nbsp;City of Houston Texas, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.961%, 03/01/47 | 12000000 | 10205376 |
| &nbsp;&nbsp;&nbsp;GDB Debt Recovery Authority of Puerto Rico, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.500%, 08/20/40 | 3930313 | 3851895 |
| &nbsp;&nbsp;&nbsp;Mission, Economic Development, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.750%, 12/01/25(F)(G) | 3045000 | 30450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.550%, 12/01/21(F)(G) | 2125000 | 21250 |
| &nbsp;&nbsp;&nbsp;Mission, Economic Development, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.875%, 12/01/28(F)(G) | 3315000 | 33150 |
| &nbsp;&nbsp;&nbsp;North Texas Tollway Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.410%, 02/01/30 | 1211000 | 1297635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.718%, 01/01/49 | 2287000 | 2461291 |
| &nbsp;&nbsp;&nbsp;Northwest Independent School District, Ser A, GO, PSF-GTD |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.776%, 02/15/31 | 2000000 | 1800691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.836%, 02/15/32 | 1890000 | 1662541 |
| &nbsp;&nbsp;&nbsp;Rhode Island State, Health & Educational System, Providence Public Schools, Ser A, Cl A, RB, CITY APPROP ST AID WITHHLDG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.000%, 05/15/29 | 5000000 | 5011342 |
| &nbsp;&nbsp;&nbsp;Texas State, Transportation Commission State Highway Fund, Ser B-BUILD, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.178%, 04/01/30 | 3980000 | 4037361 |
| &nbsp;&nbsp;&nbsp;TransJamaican Highway, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.750%, 10/10/36(B) | 1219021 | 1118452 |
| &nbsp;&nbsp;&nbsp;USAFA Visitor's Center Business Improvement District, Ser B, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.750%, 12/01/42(B) | 12870000 | 12841591 |
| &nbsp;&nbsp;&nbsp;William Marsh Rice University, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.598%, 05/15/50 | 1810000 | 1121788 |
| Total Municipal Bonds |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $56,805,163) |  | 49857195 |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS — 0.7%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS — 0.7%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS — 0.7%** |
| &nbsp;&nbsp;&nbsp;FFCB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.490%, 09/22/42 | 1000000 | 1000163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.280%, 07/28/33 | 5000000 | 4986778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.390%, 03/27/29 | 5000000 | 5030123 |
| &nbsp;&nbsp;&nbsp;FHLB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 07/28/45 | 5000000 | 5002025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.700%, 04/09/41 | 5000000 | 4920315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.150%, 09/23/36 | 1500000 | 1176257 |
| &nbsp;&nbsp;&nbsp;Tennessee Valley Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 09/15/52 | 7521000 | 6275565 |
| Total U.S. Government Agency Obligations | Total U.S. Government Agency Obligations |  |
| &nbsp;&nbsp;&nbsp;(Cost $29,287,872) |  | 28391226 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![](fp0099434_01.jpg) | ![](fp0099434_02.jpg) |

---

**FROST TOTAL RETURN BOND FUND April 30, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Description** | **Face Amount** | **Value** |
| **COMMERCIAL PAPER — 2.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.239%, 05/01/26 (H) | $2000000 | $1999784 |
| &nbsp;&nbsp;&nbsp;Altria Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.954%, 05/07/26 (H) | 2500000 | 2498065 |
| &nbsp;&nbsp;&nbsp;American Crystal Sugar |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.080%, 05/20/26 (H) | 2200000 | 2195072 |
| &nbsp;&nbsp;&nbsp;Brookfield Infrastructur |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.203%, 06/02/26 (H) | 2500000 | 2490343 |
| &nbsp;&nbsp;&nbsp;Brookfield Infrastructure |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.081%, 05/21/26 (H) | 2250000 | 2244504 |
| &nbsp;&nbsp;&nbsp;CBRE Services |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.996%, 05/13/26 (H) | 2500000 | 2496390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.959%, 05/20/26 (H) | 2250000 | 2244960 |
| &nbsp;&nbsp;&nbsp;Clorox Company |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.099%, 05/26/26 (H) | 2000000 | 1994150 |
| &nbsp;&nbsp;&nbsp;Columbia Pipeline |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.136%, 05/20/26 (H) | 2500000 | 2494488 |
| &nbsp;&nbsp;&nbsp;Crown Castle International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.280%, 05/05/26 (H) | 2500000 | 2498516 |
| &nbsp;&nbsp;&nbsp;ERP Operating |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.985%, 05/05/26 (H) | 2500000 | 2498623 |
| &nbsp;&nbsp;&nbsp;Essex Portfolio |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.058%, 05/04/26 (H) | 2500000 | 2498886 |
| &nbsp;&nbsp;&nbsp;Extra Space Storage |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.095%, 05/19/26 (H) | 2500000 | 2494660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.049%, 05/06/26 (H) | 2500000 | 2498347 |
| &nbsp;&nbsp;&nbsp;Fastnet Funding Co |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.900%, 05/11/26 (H) | 2500000 | 2497144 |
| &nbsp;&nbsp;&nbsp;Fidelity National |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.077%, 05/01/26 (H) | 2500000 | 2499726 |
| &nbsp;&nbsp;&nbsp;Genuine Parts |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.435%, 05/08/26 (H) | 2500000 | 2497703 |
| &nbsp;&nbsp;&nbsp;Harley-Davidson |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.464%, 07/06/26 (H) | 1000000 | 992031 |
| &nbsp;&nbsp;&nbsp;Healthcare Reality Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.129%, 05/05/26 (H) | 2500000 | 2498642 |
| &nbsp;&nbsp;&nbsp;HealthPeak OP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.161%, 05/13/26 (H) | 5000000 | 4992726 |
| &nbsp;&nbsp;&nbsp;Hilltop |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.955%, 05/20/26 (H) | 5000000 | 4988400 |
| &nbsp;&nbsp;&nbsp;Humana |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.042%, 05/04/26 (H) | 4000000 | 3998239 |
| &nbsp;&nbsp;&nbsp;Jabil Inc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.106%, 05/14/26 (H) | 2500000 | 2495651 |
| &nbsp;&nbsp;&nbsp;John Deere Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.688%, 05/21/26 (H) | 2750000 | 2743961 |
| &nbsp;&nbsp;&nbsp;JTI Fin Services |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.905%, 05/04/26 (H) | 5500000 | 5497714 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.374%, 06/01/26 (H) | 2500000 | 2490520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.101%, 05/01/26 (H) | 2800000 | 2799679 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.310%, 05/04/26 (H) | 2000000 | 1999082 |
| &nbsp;&nbsp;&nbsp;Marsh & Mclennan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.009%, 05/12/26 (H) | 4650000 | 4643809 |
| &nbsp;&nbsp;&nbsp;Northwest Natural Holding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.170%, 05/28/26 (H) | 2485000 | 2476861 |

---

---

| | | |
|:---|:---|:---|
| **Description** | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Oracle |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.005%, 05/11/26 (H) | 2400000 | $2397011 |
| &nbsp;&nbsp;&nbsp;Phillips 66 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.320%, 05/04/26 (H) | 2500000 | 2498892 |
| &nbsp;&nbsp;&nbsp;Republic Services Inc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.970%, 05/07/26 (H) | 5000000 | 4996131 |
| &nbsp;&nbsp;&nbsp;Rogers Communications |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.233%, 05/14/26 (H) | 4000000 | 3993667 |
| &nbsp;&nbsp;&nbsp;Safehold GL Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.262%, 05/15/26 (H) | 2500000 | 2495488 |
| &nbsp;&nbsp;&nbsp;SPIRE INC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.062%, 05/12/26 (H) | 2500000 | 2496672 |
| &nbsp;&nbsp;&nbsp;Stellantis Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.459%, 06/08/26 (H) | 2900000 | 2886265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.408%, 05/19/26 (H) | 2500000 | 2494387 |
| &nbsp;&nbsp;&nbsp;Telus Corp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.113%, 05/27/26 (H) | 1500000 | 1495115 |
| &nbsp;&nbsp;&nbsp;Triton Container |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.307%, 05/13/26 (H) | 2500000 | 2496030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.257%, 05/12/26 (H) | 2500000 | 2496378 |
| &nbsp;&nbsp;&nbsp;Videotron |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 05/14/26 (H) | 3850000 | 3843467 |
| Total Commercial Paper |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $117,861,612) |  | 117848179 |
| **REPURCHASE AGREEMENT(I) — 0.0%** | **REPURCHASE AGREEMENT(I) — 0.0%** | **REPURCHASE AGREEMENT(I) — 0.0%** |
| &nbsp;&nbsp;&nbsp;Tri-Party Overnight 3.550%, dated 04/30/2026, to be repurchased on 05/01/2026, repurchase price $1,400,138 (collateralized by various Government Obligations, ranging in par value $494,699 - $784,000, 8.875% - 10.600%, 10/01/2028 - 08/22/2050, with a total market value of $1,569,871) | 1400000 | 1400000 |
| Total Repurchase Agreement |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $1,400,000) |  | 1400000 |
| Total Investments — 99.0% |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $4,064,208,126) |  | $4063661375 |

---

Percentages are based on Net Assets of $4,103,176,189.

&nbsp;&nbsp;&nbsp;&nbsp;*(A)* *Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates.* 

*(B)* *Securities sold within terms of a private placement memorandum, exempt from registration under Section 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other "accredited investors." The total value of such securities at April 30, 2026 was $1,038,873,758 and represents 25.3% of Net Assets.* 

*(C)* *Zero coupon security. The rate reported on the Schedule of Investments is the effective yield at the time of purchase.* 

*(D)* *PO - Principal Only* 

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![](fp0099434_01.jpg) | ![](fp0099434_02.jpg) |

---

**FROST TOTAL RETURN BOND FUND April 30, 2026 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;*(E)* *Step Bonds — The rate reflected on the Schedule of Investments is the effective yield on April 30, 2026. The coupon on a step bond changes on a specific date.* 

*(F)* *Level 3 security in accordance with fair value hierarchy.* 

*(G)* *Security in default on interest payments.* 

*(H)* *Interest rate represents the security's effective yield at the time of purchase.* 

*(I)* *Tri-Party Repurchase Agreement.* 

*Amounts designated as "—" are $0 or have been rounded to $0.*

*For information on the Fund's policy regarding valuation of investments, fair value hierarchy levels and other significant accounting policies, please refer to the Fund's most recent financial statements.*

*See "Glossary" for abbreviations.*

*FIA-QH-001-3700*

 

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![](fp0099434_01.jpg) | ![](fp0099434_02.jpg) |

---

**FROST CREDIT FUND April 30, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Description** | **Face Amount** | **Value** |
| **CORPORATE OBLIGATIONS — 49.3%** | **CORPORATE OBLIGATIONS — 49.3%** | **CORPORATE OBLIGATIONS — 49.3%** |
| **Communication Services — 6.0%** | | |
| &nbsp;&nbsp;&nbsp;AT&T | &nbsp;&nbsp;&nbsp;AT&T | &nbsp;&nbsp;&nbsp;AT&T |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.850%, 06/01/60 | $6000000 | $3996696 |
| &nbsp;&nbsp;&nbsp;Fair Isaac | &nbsp;&nbsp;&nbsp;Fair Isaac | &nbsp;&nbsp;&nbsp;Fair Isaac |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 05/15/33(A) | 3000000 | 2958673 |
| &nbsp;&nbsp;&nbsp;Gray Media | &nbsp;&nbsp;&nbsp;Gray Media | &nbsp;&nbsp;&nbsp;Gray Media |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.375%, 11/15/31(A) | 3000000 | 2342970 |
| &nbsp;&nbsp;&nbsp;News | &nbsp;&nbsp;&nbsp;News | &nbsp;&nbsp;&nbsp;News |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125%, 02/15/32(A) | 5000000 | 4914843 |
| &nbsp;&nbsp;&nbsp;OT Midco | &nbsp;&nbsp;&nbsp;OT Midco | &nbsp;&nbsp;&nbsp;OT Midco |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.000%, 02/15/30(A) | 8000000 | 3120000 |
| &nbsp;&nbsp;&nbsp;Sirius XM Radio | &nbsp;&nbsp;&nbsp;Sirius XM Radio | &nbsp;&nbsp;&nbsp;Sirius XM Radio |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.875%, 04/15/32(A) | 3000000 | 2949877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875%, 09/01/31(A) | 3000000 | 2715758 |
| &nbsp;&nbsp;&nbsp;Stagwell Global | &nbsp;&nbsp;&nbsp;Stagwell Global | &nbsp;&nbsp;&nbsp;Stagwell Global |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.625%, 08/15/29(A) | 2000000 | 1902509 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA | &nbsp;&nbsp;&nbsp;T-Mobile USA | &nbsp;&nbsp;&nbsp;T-Mobile USA |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.700%, 12/15/33 | 4000000 | 4389233 |
|  |  | 29290559 |
| **Consumer Dicretionary — 1.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Industrial F&B Investments III |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.750%, 02/11/33(A) | 2000000 | 2021012 |
| &nbsp;&nbsp;&nbsp;Specac International | &nbsp;&nbsp;&nbsp;Specac International | &nbsp;&nbsp;&nbsp;Specac International |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.174%, TSFR3M + 6.500%, 09/16/30(A)(B) | 3500000 | 3608645 |
|  |  | 5629657 |
| **Consumer Discretionary — 3.0%** |  |  |
| &nbsp;&nbsp;&nbsp;180 Medical | &nbsp;&nbsp;&nbsp;180 Medical | &nbsp;&nbsp;&nbsp;180 Medical |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.300%, 10/08/35(A) | 4000000 | 3908425 |
| &nbsp;&nbsp;&nbsp;Amazon.com | &nbsp;&nbsp;&nbsp;Amazon.com | &nbsp;&nbsp;&nbsp;Amazon.com |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.100%, 04/13/62 | 4000000 | 2950936 |
| &nbsp;&nbsp;&nbsp;Beazer Homes USA | &nbsp;&nbsp;&nbsp;Beazer Homes USA | &nbsp;&nbsp;&nbsp;Beazer Homes USA |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.250%, 10/15/29(A) | 1000000 | 1012980 |
| &nbsp;&nbsp;&nbsp;Choice Hotels International | &nbsp;&nbsp;&nbsp;Choice Hotels International | &nbsp;&nbsp;&nbsp;Choice Hotels International |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.850%, 08/01/34 | 2000000 | 2021940 |
| &nbsp;&nbsp;&nbsp;Dillard's | &nbsp;&nbsp;&nbsp;Dillard's | &nbsp;&nbsp;&nbsp;Dillard's |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 12/01/28 | 500000 | 519327 |
| &nbsp;&nbsp;&nbsp;Ford Motor Credit | &nbsp;&nbsp;&nbsp;Ford Motor Credit | &nbsp;&nbsp;&nbsp;Ford Motor Credit |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.869%, 10/31/35 | 2000000 | 1948808 |
| &nbsp;&nbsp;&nbsp;JBS USA Holding Lux Sarl | &nbsp;&nbsp;&nbsp;JBS USA Holding Lux Sarl | &nbsp;&nbsp;&nbsp;JBS USA Holding Lux Sarl |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.750%, 03/15/34 | 186000 | 202141 |
| &nbsp;&nbsp;&nbsp;STL Holding | &nbsp;&nbsp;&nbsp;STL Holding | &nbsp;&nbsp;&nbsp;STL Holding |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.750%, 02/15/29(A) | 2000000 | 2075340 |
|  |  | 14639897 |
| **Consumer Staples — 2.2%** | **Consumer Staples — 2.2%** | **Consumer Staples — 2.2%** |
| &nbsp;&nbsp;&nbsp;JBS | &nbsp;&nbsp;&nbsp;JBS | &nbsp;&nbsp;&nbsp;JBS |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.375%, 04/15/66 | 2500000 | 2407020 |
| &nbsp;&nbsp;&nbsp;JBS USA Holding Lux Sarl | &nbsp;&nbsp;&nbsp;JBS USA Holding Lux Sarl | &nbsp;&nbsp;&nbsp;JBS USA Holding Lux Sarl |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 12/01/52 | 3000000 | 3008727 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Foods | &nbsp;&nbsp;&nbsp;Kraft Heinz Foods | &nbsp;&nbsp;&nbsp;Kraft Heinz Foods |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.625%, 10/01/39 | 4352000 | 3845554 |
| &nbsp;&nbsp;&nbsp;Philip Morris International | &nbsp;&nbsp;&nbsp;Philip Morris International | &nbsp;&nbsp;&nbsp;Philip Morris International |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 11/10/44 | 2000000 | 1656901 |
|  |  | 10918202 |
| **Energy — 11.3%** | **Energy — 11.3%** | **Energy — 11.3%** |
| &nbsp;&nbsp;&nbsp;Aircastle | &nbsp;&nbsp;&nbsp;Aircastle | &nbsp;&nbsp;&nbsp;Aircastle |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.750%, 10/01/31(A) | 3500000 | 3588394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, H15T5Y + 4.410%, 09/15/74(A)(B) | 1000000 | 998250 |

---

---

| | | |
|:---|:---|:---|
| **Description** | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Asurion and Asurion - Issuer | &nbsp;&nbsp;&nbsp;Asurion and Asurion - Issuer | &nbsp;&nbsp;&nbsp;Asurion and Asurion - Issuer |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.375%, 02/01/34(A) | 3500000 | 3453128 |
| &nbsp;&nbsp;&nbsp;Borr IHC | &nbsp;&nbsp;&nbsp;Borr IHC | &nbsp;&nbsp;&nbsp;Borr IHC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.000%, 11/15/28(A) | 1024390 | 1070179 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets | &nbsp;&nbsp;&nbsp;BP Capital Markets | &nbsp;&nbsp;&nbsp;BP Capital Markets |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.125%, H15T5Y + 1.924%, 06/18/74(B) | 5000000 | 5112475 |
| &nbsp;&nbsp;&nbsp;Colonial Pipeline | &nbsp;&nbsp;&nbsp;Colonial Pipeline | &nbsp;&nbsp;&nbsp;Colonial Pipeline |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.375%, 11/01/30(A) | 1500000 | 1670832 |
| &nbsp;&nbsp;&nbsp;Futura Resources | &nbsp;&nbsp;&nbsp;Futura Resources | &nbsp;&nbsp;&nbsp;Futura Resources |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.125%, 01/09/31 | 4250000 | 3971200 |
| &nbsp;&nbsp;&nbsp;HF Sinclair | &nbsp;&nbsp;&nbsp;HF Sinclair | &nbsp;&nbsp;&nbsp;HF Sinclair |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 09/01/32 | 5000000 | 5059680 |
| &nbsp;&nbsp;&nbsp;New England Power | &nbsp;&nbsp;&nbsp;New England Power | &nbsp;&nbsp;&nbsp;New England Power |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.807%, 10/06/50(A) | 1990000 | 1194985 |
| &nbsp;&nbsp;&nbsp;Oglethorpe Power | &nbsp;&nbsp;&nbsp;Oglethorpe Power | &nbsp;&nbsp;&nbsp;Oglethorpe Power |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.800%, 06/01/54 | 4000000 | 3852193 |
| &nbsp;&nbsp;&nbsp;PBF Holding | &nbsp;&nbsp;&nbsp;PBF Holding | &nbsp;&nbsp;&nbsp;PBF Holding |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.875%, 03/15/30(A) | 2250000 | 2417656 |
| &nbsp;&nbsp;&nbsp;Phoenix Aviation Capital | &nbsp;&nbsp;&nbsp;Phoenix Aviation Capital | &nbsp;&nbsp;&nbsp;Phoenix Aviation Capital |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.250%, 07/15/30(A) | 7000000 | 7143906 |
| &nbsp;&nbsp;&nbsp;SBL Holdings | &nbsp;&nbsp;&nbsp;SBL Holdings | &nbsp;&nbsp;&nbsp;SBL Holdings |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, H15T5Y + 5.620%, 11/13/74(A)(B) | 3000000 | 2711831 |
| &nbsp;&nbsp;&nbsp;Southern Natural Gas | &nbsp;&nbsp;&nbsp;Southern Natural Gas | &nbsp;&nbsp;&nbsp;Southern Natural Gas |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.800%, 03/15/47(A) | 3000000 | 2567982 |
| &nbsp;&nbsp;&nbsp;Summit Midstream Holdings | &nbsp;&nbsp;&nbsp;Summit Midstream Holdings | &nbsp;&nbsp;&nbsp;Summit Midstream Holdings |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.625%, 10/31/29(A) | 500000 | 522785 |
| &nbsp;&nbsp;&nbsp;Telford Finco | &nbsp;&nbsp;&nbsp;Telford Finco | &nbsp;&nbsp;&nbsp;Telford Finco |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.000%, 11/06/29 | 3623034 | 3739310 |
| &nbsp;&nbsp;&nbsp;Topaz Solar Farms | &nbsp;&nbsp;&nbsp;Topaz Solar Farms | &nbsp;&nbsp;&nbsp;Topaz Solar Farms |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.750%, 09/30/39(A) | 5955926 | 5941036 |
|  |  | 55015822 |
| **Financials — 6.3%** | **Financials — 6.3%** | **Financials — 6.3%** |
| &nbsp;&nbsp;&nbsp;Apollo Global Management | &nbsp;&nbsp;&nbsp;Apollo Global Management | &nbsp;&nbsp;&nbsp;Apollo Global Management |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.700%, 03/30/36 | 1500000 | 1505605 |
| &nbsp;&nbsp;&nbsp;Arthur J Gallagher | &nbsp;&nbsp;&nbsp;Arthur J Gallagher | &nbsp;&nbsp;&nbsp;Arthur J Gallagher |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.750%, 07/15/54 | 3000000 | 2862593 |
| &nbsp;&nbsp;&nbsp;Bank of America | &nbsp;&nbsp;&nbsp;Bank of America | &nbsp;&nbsp;&nbsp;Bank of America |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.518%, SOFR + 1.738%, 10/25/35(B) | 3000000 | 3022276 |
| &nbsp;&nbsp;&nbsp;Brown & Brown | &nbsp;&nbsp;&nbsp;Brown & Brown | &nbsp;&nbsp;&nbsp;Brown & Brown |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.650%, 06/11/34 | 3000000 | 3030660 |
| &nbsp;&nbsp;&nbsp;F&G Annuities & Life | &nbsp;&nbsp;&nbsp;F&G Annuities & Life | &nbsp;&nbsp;&nbsp;F&G Annuities & Life |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.400%, 01/13/28 | 3000000 | 3059576 |
| &nbsp;&nbsp;&nbsp;LPL Holdings | &nbsp;&nbsp;&nbsp;LPL Holdings | &nbsp;&nbsp;&nbsp;LPL Holdings |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 05/20/34 | 3000000 | 3067350 |
| &nbsp;&nbsp;&nbsp;Pinnacle Financial | &nbsp;&nbsp;&nbsp;Pinnacle Financial | &nbsp;&nbsp;&nbsp;Pinnacle Financial |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.168%, SOFR + 2.347%, 11/01/30(B) | 2500000 | 2565188 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group | &nbsp;&nbsp;&nbsp;PNC Financial Services Group | &nbsp;&nbsp;&nbsp;PNC Financial Services Group |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.400%, H15T5Y + 2.595%, 12/15/74(B) | 4000000 | 3950498 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada MTN | &nbsp;&nbsp;&nbsp;Royal Bank of Canada MTN | &nbsp;&nbsp;&nbsp;Royal Bank of Canada MTN |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.200%, 01/31/33 | 1000000 | 994158 |
| &nbsp;&nbsp;&nbsp;Swedbank | &nbsp;&nbsp;&nbsp;Swedbank | &nbsp;&nbsp;&nbsp;Swedbank |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.750%, H15T5Y + 3.657%, 09/17/74(B) | 2000000 | 2124410 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![](fp0099434_01.jpg) | ![](fp0099434_02.jpg) |

---

**FROST CREDIT FUND April 30, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Description** | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | &nbsp;&nbsp;&nbsp;Synchrony Financial | &nbsp;&nbsp;&nbsp;Synchrony Financial |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.019%, SOFR + 1.395%, 07/29/29(B) | 2000000 | 2000292 |
| &nbsp;&nbsp;&nbsp;Zions Bancorp | &nbsp;&nbsp;&nbsp;Zions Bancorp | &nbsp;&nbsp;&nbsp;Zions Bancorp |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.816%, SOFR + 2.830%, 11/19/35(B) | 3000000 | 3132206 |
|  |  | 31314812 |
| **Health Care — 0.5%** | **Health Care — 0.5%** | **Health Care — 0.5%** |
| &nbsp;&nbsp;&nbsp;Perrigo | &nbsp;&nbsp;&nbsp;Perrigo | &nbsp;&nbsp;&nbsp;Perrigo |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.300%, 11/15/43 | 1000000 | 632060 |
| &nbsp;&nbsp;&nbsp;Perrigo Finance Unlimited | &nbsp;&nbsp;&nbsp;Perrigo Finance Unlimited | &nbsp;&nbsp;&nbsp;Perrigo Finance Unlimited |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.125%, 09/30/32 | 2000000 | 1881936 |
|  |  | 2513996 |
| **Industrials — 7.5%** | **Industrials — 7.5%** | **Industrials — 7.5%** |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC | &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC | &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, H15T5Y + 2.441%, 01/31/56(B) | 7000000 | 7126056 |
| &nbsp;&nbsp;&nbsp;Boeing | &nbsp;&nbsp;&nbsp;Boeing | &nbsp;&nbsp;&nbsp;Boeing |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.625%, 11/15/31 | 2594000 | 3033875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.930%, 05/01/60 | 7000000 | 6777426 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe | &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe | &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 03/15/55 | 4000000 | 3854065 |
| &nbsp;&nbsp;&nbsp;GATX | &nbsp;&nbsp;&nbsp;GATX | &nbsp;&nbsp;&nbsp;GATX |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.050%, 03/15/34 | 2000000 | 2113138 |
| &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries | &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries | &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.749%, 01/15/35 | 5000000 | 5171015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.200%, 05/01/30 | 3000000 | 2947670 |
| &nbsp;&nbsp;&nbsp;nVent Finance Sarl | &nbsp;&nbsp;&nbsp;nVent Finance Sarl | &nbsp;&nbsp;&nbsp;nVent Finance Sarl |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.650%, 05/15/33 | 3000000 | 3076304 |
| &nbsp;&nbsp;&nbsp;Twma Finance | &nbsp;&nbsp;&nbsp;Twma Finance | &nbsp;&nbsp;&nbsp;Twma Finance |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.250%, 02/10/29(A) | 3000000 | 3045000 |
|  |  | 37144549 |
| **Information Technology — 6.1%** | **Information Technology — 6.1%** | **Information Technology — 6.1%** |
| &nbsp;&nbsp;&nbsp;Corning | &nbsp;&nbsp;&nbsp;Corning | &nbsp;&nbsp;&nbsp;Corning |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.450%, 11/15/79 | 4000000 | 3614246 |
| &nbsp;&nbsp;&nbsp;Crowdstrike Holdings | &nbsp;&nbsp;&nbsp;Crowdstrike Holdings | &nbsp;&nbsp;&nbsp;Crowdstrike Holdings |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 02/15/29 | 3000000 | 2858488 |
| &nbsp;&nbsp;&nbsp;Flex | &nbsp;&nbsp;&nbsp;Flex | &nbsp;&nbsp;&nbsp;Flex |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 01/15/32 | 2000000 | 2012271 |
| &nbsp;&nbsp;&nbsp;Foundry JV Holdco | &nbsp;&nbsp;&nbsp;Foundry JV Holdco | &nbsp;&nbsp;&nbsp;Foundry JV Holdco |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.300%, 01/25/39(A) | 2000000 | 2122571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.875%, 01/25/34(A) | 4000000 | 4059778 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise | &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise | &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/15/34 | 4000000 | 3908478 |
| &nbsp;&nbsp;&nbsp;Kyndryl Holdings | &nbsp;&nbsp;&nbsp;Kyndryl Holdings | &nbsp;&nbsp;&nbsp;Kyndryl Holdings |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.100%, 10/15/41 | 8929000 | 6411835 |
| &nbsp;&nbsp;&nbsp;Oracle | &nbsp;&nbsp;&nbsp;Oracle | &nbsp;&nbsp;&nbsp;Oracle |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.100%, 09/26/65 | 6000000 | 4956730 |
|  |  | 29944397 |
| **Materials — 1.1%** | **Materials — 1.1%** | **Materials — 1.1%** |
| &nbsp;&nbsp;&nbsp;Brightstar Resources | &nbsp;&nbsp;&nbsp;Brightstar Resources | &nbsp;&nbsp;&nbsp;Brightstar Resources |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.500%, 03/18/30(A) | 3000000 | 2930498 |
| &nbsp;&nbsp;&nbsp;Hillgrove Mines Pty | &nbsp;&nbsp;&nbsp;Hillgrove Mines Pty | &nbsp;&nbsp;&nbsp;Hillgrove Mines Pty |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.000%, 08/01/29 | 2500000 | 2600000 |
|  |  | 5530498 |
| **Real Estate — 1.5%** | **Real Estate — 1.5%** | **Real Estate — 1.5%** |
| &nbsp;&nbsp;&nbsp;GLP Capital | &nbsp;&nbsp;&nbsp;GLP Capital | &nbsp;&nbsp;&nbsp;GLP Capital |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.750%, 12/01/33<sup>‡</sup> | 1000000 | 1061488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.250%, 01/15/32<sup>‡</sup> | 2500000 | 2240437 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Face Amount** | **Face Amount** | **Value** | **Value** |
| &nbsp;&nbsp;&nbsp;Host Hotels & Resorts | &nbsp;&nbsp;&nbsp;Host Hotels & Resorts | &nbsp;&nbsp;&nbsp;Host Hotels & Resorts | &nbsp;&nbsp;&nbsp;Host Hotels & Resorts | &nbsp;&nbsp;&nbsp;Host Hotels & Resorts |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 04/15/35<sup>‡</sup> | $| 2000000 | $| 2005878 |
| &nbsp;&nbsp;&nbsp;Sabra Health Care | &nbsp;&nbsp;&nbsp;Sabra Health Care | &nbsp;&nbsp;&nbsp;Sabra Health Care | &nbsp;&nbsp;&nbsp;Sabra Health Care | &nbsp;&nbsp;&nbsp;Sabra Health Care |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.200%, 12/01/31<sup>‡</sup> |  | 2000000 |  | 1808111 |
|  |  |  |  | 7115914 |
| **Utilities — 2.6%** | **Utilities — 2.6%** | **Utilities — 2.6%** | **Utilities — 2.6%** | **Utilities — 2.6%** |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy | &nbsp;&nbsp;&nbsp;CenterPoint Energy | &nbsp;&nbsp;&nbsp;CenterPoint Energy | &nbsp;&nbsp;&nbsp;CenterPoint Energy | &nbsp;&nbsp;&nbsp;CenterPoint Energy |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.950%, H15T5Y + 2.223%, 04/01/56(B) |  | 5000000 |  | 4979457 |
| &nbsp;&nbsp;&nbsp;Entergy | &nbsp;&nbsp;&nbsp;Entergy | &nbsp;&nbsp;&nbsp;Entergy | &nbsp;&nbsp;&nbsp;Entergy | &nbsp;&nbsp;&nbsp;Entergy |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.125%, H15T5Y + 2.670%, 12/01/54(B) |  | 3000000 |  | 3088434 |
| &nbsp;&nbsp;&nbsp;Entergy Texas | &nbsp;&nbsp;&nbsp;Entergy Texas | &nbsp;&nbsp;&nbsp;Entergy Texas | &nbsp;&nbsp;&nbsp;Entergy Texas | &nbsp;&nbsp;&nbsp;Entergy Texas |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.550%, 09/15/54 |  | 1000000 |  | 945600 |
| &nbsp;&nbsp;&nbsp;NRG Energy | &nbsp;&nbsp;&nbsp;NRG Energy | &nbsp;&nbsp;&nbsp;NRG Energy | &nbsp;&nbsp;&nbsp;NRG Energy | &nbsp;&nbsp;&nbsp;NRG Energy |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.125%, 05/15/36(A) |  | 1000000 |  | 996221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.750%, 07/15/29(A) |  | 3000000 |  | 2998633 |
|  |  |  |  | 13008345 |
| Total Corporate Obligations |  |  |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $245,984,727) |  |  |  | 242066648 |
| **COLLATERALIZED LOAN OBLIGATIONS — 19.4%** | **COLLATERALIZED LOAN OBLIGATIONS — 19.4%** | **COLLATERALIZED LOAN OBLIGATIONS — 19.4%** | **COLLATERALIZED LOAN OBLIGATIONS — 19.4%** | **COLLATERALIZED LOAN OBLIGATIONS — 19.4%** |
| &nbsp;&nbsp;&nbsp;AMMC CLO XXVI, Ser 2025-26A, Cl B1R |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.573%, TSFR3M + 1.900%, 04/15/36 (A)(B) |  | 7500000 |  | 7504253 |
| &nbsp;&nbsp;&nbsp;Apidos CLO XL, Ser 2024-40A, Cl CR |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.623%, TSFR3M + 1.950%, 07/15/37 (A)(B) |  | 5000000 |  | 4996535 |
| &nbsp;&nbsp;&nbsp;Apidos CLO XL, Ser 2024-40A, Cl ER |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.273%, TSFR3M + 5.600%, 07/15/37 (A)(B) |  | 1000000 |  | 990514 |
| &nbsp;&nbsp;&nbsp;Battalion CLO XVII, Ser 2024-17A, Cl CR |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.925%, TSFR3M + 2.250%, 03/09/34 (A)(B) |  | 5000000 |  | 4999460 |
| &nbsp;&nbsp;&nbsp;Battalion CLO XXIII, Ser 2024-23A, Cl BR |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.473%, TSFR3M + 1.800%, 10/15/37 (A)(B) |  | 2000000 |  | 2002322 |
| &nbsp;&nbsp;&nbsp;Battalion CLO XXIII, Ser 2024-23A, Cl DR1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.623%, TSFR3M + 3.950%, 10/15/37 (A)(B) |  | 3000000 |  | 3003435 |
| &nbsp;&nbsp;&nbsp;Battalion CLO XXVIII, Ser 2025-28A, Cl B |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.275%, TSFR3M + 1.600%, 01/20/38 (A)(B) |  | 1340000 |  | 1340079 |
| &nbsp;&nbsp;&nbsp;Battalion CLO XXVIII, Ser 2025-28A, Cl D1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.725%, TSFR3M + 3.050%, 01/20/38 (A)(B) |  | 2000000 |  | 2002608 |
| &nbsp;&nbsp;&nbsp;BlueMountain XXX, Ser 2022-30A, Cl ER |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.373%, TSFR3M + 6.700%, 04/15/35 (A)(B) |  | 2000000 |  | 1826876 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![](fp0099434_01.jpg) | ![](fp0099434_02.jpg) |

---

**FROST CREDIT FUND April 30, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Description** | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;BSL CLO V, Ser 2024-5A, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.375%, TSFR3M + 1.700%, 01/20/38 (A)(B) | $5000000 | $4997405 |
| &nbsp;&nbsp;&nbsp;CIFC Funding, Ser 2024-4A, Cl CR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.566%, TSFR3M + 1.900%, 07/23/37 (A)(B) | 1750000 | 1748812 |
| &nbsp;&nbsp;&nbsp;CLI Funding IX, Ser 2024-1A, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.660%, 07/20/49 (A) | 1676500 | 1667951 |
| &nbsp;&nbsp;&nbsp;CLI Funding IX, Ser 2024-1A, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 07/20/49 (A) | 838250 | 827072 |
| &nbsp;&nbsp;&nbsp;Dryden 76 CLO, Ser 2024-76A, Cl BR2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.423%, TSFR3M + 1.750%, 10/15/37 (A)(B) | 3000000 | 3001830 |
| &nbsp;&nbsp;&nbsp;Elmwood CLO XXIV, Ser 2024-3A, Cl BR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.280%, TSFR3M + 1.600%, 01/17/38 (A)(B) | 4000000 | 4000220 |
| &nbsp;&nbsp;&nbsp;GoldenTree Loan Management US CLO XIV, Ser 2024-14A, Cl CR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.575%, TSFR3M + 1.900%, 07/20/37 (A)(B) | 5000000 | 4996560 |
| &nbsp;&nbsp;&nbsp;Golub Capital Partners CLO XVII, Ser 2025-17A, Cl CRR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.860%, TSFR3M + 2.200%, 02/09/39 (A)(B) | 3000000 | 2983419 |
| &nbsp;&nbsp;&nbsp;LCM 42, Ser 2024-42A, Cl D1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.173%, TSFR3M + 3.500%, 01/15/38 (A)(B) | 5000000 | 5006235 |
| &nbsp;&nbsp;&nbsp;Magnetite XLI, Ser 2024-41A, Cl D1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.267%, TSFR3M + 2.600%, 01/25/38 (A)(B) | 750000 | 751973 |
| &nbsp;&nbsp;&nbsp;Magnetite XXIX, Ser 2024-29A, Cl BR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.423%, TSFR3M + 1.750%, 07/15/37 (A)(B) | 4000000 | 4002260 |
| &nbsp;&nbsp;&nbsp;Magnetite XXIX, Ser 2024-29A, Cl DR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.723%, TSFR3M + 3.050%, 07/15/37 (A)(B) | 3000000 | 2985822 |
| &nbsp;&nbsp;&nbsp;Magnetite XXXVIII, Ser 2024-38A, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.673%, TSFR3M + 2.000%, 04/15/37 (A)(B) | 2000000 | 2002166 |
| &nbsp;&nbsp;&nbsp;Magnetite XXXVIII, Ser 2024-38A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.173%, TSFR3M + 3.500%, 04/15/37 (A)(B) | 1000000 | 1001031 |
| &nbsp;&nbsp;&nbsp;Magnetite XXXVIII, Ser 2024-38A, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.173%, TSFR3M + 6.500%, 04/15/37 (A)(B) | 1000000 | 998827 |
| &nbsp;&nbsp;&nbsp;MCF CLO VIII CLO, Ser 2024-1A, Cl BR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.075%, TSFR3M + 2.400%, 04/18/36 (A)(B) | 3000000 | 2997687 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Description** | **Face Amount** | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Sycamore Tree CLO, Ser 2025-6A, Cl A1 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.875%, TSFR3M + 1.200%, 04/20/38 (A)(B) | $| 10120000 | $10103069 |
| &nbsp;&nbsp;&nbsp;Sycamore Tree CLO, Ser 2025-7A, Cl C |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.675%, TSFR3M + 2.000%, 08/28/38 (A)(B) |  | 5000000 | 5006660 |
| &nbsp;&nbsp;&nbsp;Wise CLO, Ser 2025-3A, Cl B1 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.423%, TSFR3M + 1.750%, 07/15/38 (A)(B) |  | 7500000 | 7504755 |
| Total Collateralized Loan Obligations |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $95,474,471) |  |  | 95249836 |
| **ASSET-BACKED SECURITIES — 17.1%** | **ASSET-BACKED SECURITIES — 17.1%** | **ASSET-BACKED SECURITIES — 17.1%** |  |
| **Automotive — 10.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2023-3, Cl D |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.820%, 10/12/29 (A) |  | 1000000 | 1017956 |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2023-4, Cl D |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.650%, 09/12/30 (A) |  | 1000000 | 1026404 |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2024-3, Cl D |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.040%, 07/12/30 (A) |  | 3000000 | 3047733 |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2024-4, Cl D |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.340%, 08/12/31 (A) |  | 2000000 | 2011570 |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2025-3, Cl D |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.190%, 07/12/32 (A) |  | 5000000 | 5004247 |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2025-4, Cl D |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 09/12/31 (A) |  | 3000000 | 2996170 |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2026-2, Cl E |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.900%, 02/08/34 (A) |  | 4000000 | 3972924 |
| &nbsp;&nbsp;&nbsp;Arivo Acceptance Auto Loan Receivables Trust, Ser 2024-1A, Cl C |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.650%, 07/15/30 (A) |  | 1000000 | 1032656 |
| &nbsp;&nbsp;&nbsp;Avid Automobile Receivables Trust, Ser 2021-1, Cl F |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.160%, 10/16/28 (A) |  | 2000000 | 1867629 |
| &nbsp;&nbsp;&nbsp;Bridgecrest Lending Auto Securitization Trust, Ser 2024-3, Cl D |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.830%, 05/15/30 |  | 2250000 | 2282094 |
| &nbsp;&nbsp;&nbsp;Carvana Auto Receivables Trust, Ser 2021-N2, Cl E |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.900%, 03/10/28 (A) |  | 506186 | 498612 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![](fp0099434_01.jpg) | ![](fp0099434_02.jpg) |

---

**FROST CREDIT FUND April 30, 2026 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Description** | **Face Amount** | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Credit Acceptance Auto Loan Trust, Ser 2024-2A, Cl C |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.700%, 10/16/34 (A) | $| 3000000 | $3092314 |
| &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust, Ser 2022-2A, Cl E |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.340%, 10/15/29 (A) |  | 1443000 | 1396099 |
| &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust, Ser 2024-5A, Cl E |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.220%, 05/17/32 (A) |  | 3250000 | 3324028 |
| &nbsp;&nbsp;&nbsp;Flagship Credit Auto Trust, Ser 2024-3, Cl D |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.110%, 09/16/30 (A) |  | 4000000 | 3833834 |
| &nbsp;&nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2021-4A, Cl E |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.430%, 10/16/28 (A) |  | 1500000 | 1498185 |
| &nbsp;&nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2024-3A, Cl E |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.250%, 06/16/31 (A) |  | 3000000 | 3072761 |
| &nbsp;&nbsp;&nbsp;GLS Auto Select Receivables Trust, Ser 2024-3A, Cl C |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.920%, 08/15/30 (A) |  | 1357000 | 1389184 |
| &nbsp;&nbsp;&nbsp;GLS Auto Select Receivables Trust, Ser 2025-1A, Cl C |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.260%, 03/15/31 (A) |  | 750000 | 754847 |
| &nbsp;&nbsp;&nbsp;Lendbuzz Securitization Trust, Ser 2024-3A, Cl C |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.900%, 11/15/31 (A) |  | 600000 | 601607 |
| &nbsp;&nbsp;&nbsp;Lendbuzz Securitization Trust, Ser 2025-1A, Cl C |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.990%, 01/15/32 (A) |  | 1250000 | 1246685 |
| &nbsp;&nbsp;&nbsp;Prestige Auto Receivables Trust, Ser 2024-1A, Cl D |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.210%, 02/15/30 (A) |  | 2000000 | 2017623 |
| &nbsp;&nbsp;&nbsp;Prestige Auto Receivables Trust, Ser 2024-2A, Cl E |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.750%, 11/17/31 (A) |  | 1500000 | 1451102 |
| &nbsp;&nbsp;&nbsp;SAFCO Auto Receivables Trust, Ser 2024-1A, Cl E |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.850%, 01/18/30 (A) |  | 500000 | 509748 |
| &nbsp;&nbsp;&nbsp;Tricolor Auto Securitization Trust, Ser 2022-1A, Cl F |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.800%, 07/16/29 (A) |  | 1000000 | 317286 |
| &nbsp;&nbsp;&nbsp;Tricolor Auto Securitization Trust, Ser 2023-1A, Cl F |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.000%, 06/17/30 (A) |  | 1000000 | 298325 |
| &nbsp;&nbsp;&nbsp;Tricolor Auto Securitization Trust, Ser 2025-1A, Cl E |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.370%, 04/15/32 (A) |  | 500000 | 40643 |
|  |  |  | 49602266 |
| **Credit Card — 0.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Mercury Financial Credit Card Master Trust, Ser 2024-2A, Cl A |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.560%, 07/20/29 (A) |  | 2500000 | 2502260 |
| **Other Asset-Backed Securities — 6.5%** | **Other Asset-Backed Securities — 6.5%** | **Other Asset-Backed Securities — 6.5%** |  |
| &nbsp;&nbsp;&nbsp;Amur Equipment Finance Receivables X, Ser 2022-1A, Cl E |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.020%, 12/20/28 (A) |  | 2348000 | 2348761 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Description** | **Face Amount** | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Amur Equipment Finance Receivables XIII, Ser 2024-1A, Cl E |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.660%, 04/20/32 (A) | $| 1550000 | $1598471 |
| &nbsp;&nbsp;&nbsp;Amur Equipment Finance Receivables XIV, Ser 2024-2A, Cl D |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.970%, 10/20/31 (A) |  | 800000 | 810438 |
| &nbsp;&nbsp;&nbsp;Aqua Finance Trust, Ser 2024-A, Cl A |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.810%, 04/18/50 (A) |  | 1257284 | 1252018 |
| &nbsp;&nbsp;&nbsp;BHG Securitization Trust, Ser 2022-B, Cl D |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.690%, 06/18/35 (A) |  | 998895 | 1008071 |
| &nbsp;&nbsp;&nbsp;CIFC Funding, Ser 2025-4A, Cl C |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.517%, TSFR3M + 1.850%, 10/24/38 (A)(B) |  | 10000000 | 9993890 |
| &nbsp;&nbsp;&nbsp;Dext ABS, Ser 2025-1, Cl D |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.650%, 02/15/36 (A) |  | 3000000 | 3038635 |
| &nbsp;&nbsp;&nbsp;EnFin Residential Solar Receivables Trust, Ser 2024-1A, Cl B |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.440%, 02/20/55 (A) |  | 783557 | 679647 |
| &nbsp;&nbsp;&nbsp;Kapitus Asset Securitization IV, Ser 2025-1A, Cl 1A |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.490%, 09/10/31 (A) |  | 1000000 | 1002183 |
| &nbsp;&nbsp;&nbsp;Mosaic Solar Loans, Ser 2017-2A, Cl B |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.770%, 06/22/43 (A) |  | 118394 | 106801 |
| &nbsp;&nbsp;&nbsp;NMEF Funding, Ser 2024-A, Cl C |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.330%, 12/15/31 (A) |  | 500000 | 509380 |
| &nbsp;&nbsp;&nbsp;NMEF Funding, Ser 2024-A, Cl D |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.750%, 12/15/31 (A) |  | 1500000 | 1545862 |
| &nbsp;&nbsp;&nbsp;NMEF Funding, Ser 2025-A, Cl D |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.070%, 07/15/32 (A) |  | 3000000 | 3052713 |
| &nbsp;&nbsp;&nbsp;Textainer Marine Containers VII, Ser 2024-1A, Cl B |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.340%, 08/20/49 (A) |  | 2558000 | 2513155 |
| &nbsp;&nbsp;&nbsp;TIC Home Improvement Trust, Ser 2024-A, Cl B |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.890%, 10/15/46 (A) |  | 500000 | 511037 |
| &nbsp;&nbsp;&nbsp;Verizon Master Trust, Ser 2024-8, Cl B |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.820%, 11/20/30 |  | 2120000 | 2131100 |
|  |  |  | 32102162 |
| Total Asset-Backed Securities |  |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $85,848,694) |  |  | 84206688 |
| **MORTGAGE-BACKED SECURITIES — 8.1%** | **MORTGAGE-BACKED SECURITIES — 8.1%** | **MORTGAGE-BACKED SECURITIES — 8.1%** |  |
| **Commercial Mortgage-Backed Obligation — 3.0%** | **Commercial Mortgage-Backed Obligation — 3.0%** | **Commercial Mortgage-Backed Obligation — 3.0%** |  |
| &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust, Ser 2020-B21, Cl D |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 12/17/53 (A) |  | 1000000 | 695292 |
| &nbsp;&nbsp;&nbsp;BXMT, Ser 2020-FL2, Cl A |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.932%, TSFR1M + 1.264%, 02/15/38 (A)(B) |  | 25822 | 25803 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![](fp0099434_01.jpg) | ![](fp0099434_02.jpg) |

---

**FROST CREDIT FUND April 30, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Face Amount** | **Face Amount** | **Value** | **Value** |
| &nbsp;&nbsp;&nbsp;COMM Mortgage Trust, Ser 2015-DC1, Cl D |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.424%, 02/10/48 (A)(B) | $| 1517000 | $| 1031478 |
| &nbsp;&nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Ser 2024-PJ3, Cl B2 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.771%, 08/25/54 (A)(B) |  | 955692 |  | 929200 |
| &nbsp;&nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Ser 2025-NQM2, Cl A2 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.800%, 06/25/65 (A)(C) |  | 3584740 |  | 3607357 |
| &nbsp;&nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Ser 2025-NQM3, Cl A3 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.492%, 11/25/65 (A)(C) |  | 2292178 |  | 2296691 |
| &nbsp;&nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Ser 2025-PJ11, Cl A5 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/25/56 (A)(B) |  | 1741026 |  | 1725812 |
| &nbsp;&nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Ser 2025-PJ6, Cl A5 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 11/25/55 (A)(B) |  | 2483592 |  | 2483023 |
| &nbsp;&nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Ser 2025-PJ8, Cl A3 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/25/56 (A)(B) |  | 1435974 |  | 1404394 |
| &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust, Ser 2014-C25, Cl D |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.803%, 11/15/47 (A)(B) |  | 425685 |  | 416937 |
|  |  |  |  | 14615987 |
| **Non-Agency Residential Mortgage-Backed Obligation — 5.1%** | **Non-Agency Residential Mortgage-Backed Obligation — 5.1%** | **Non-Agency Residential Mortgage-Backed Obligation — 5.1%** | **Non-Agency Residential Mortgage-Backed Obligation — 5.1%** | **Non-Agency Residential Mortgage-Backed Obligation — 5.1%** |
| &nbsp;&nbsp;&nbsp;Brean Asset Backed Securities Trust, Ser 2023-RM7, Cl A1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 03/25/78 (A)(B) |  | 750655 |  | 741536 |
| &nbsp;&nbsp;&nbsp;Brean Asset Backed Securities Trust, Ser 2024-RM9, Cl A1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/25/64 (A) |  | 826385 |  | 822126 |
| &nbsp;&nbsp;&nbsp;Brean Asset Backed Securities Trust, Ser 2025-RM11, Cl A2 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 05/25/65 (A)(B) |  | 2000000 |  | 1930799 |
| &nbsp;&nbsp;&nbsp;Brean Asset Backed Securities Trust, Ser 2025-RM12, Cl A2 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 07/25/65 (A) |  | 2004344 |  | 1912999 |
| &nbsp;&nbsp;&nbsp;Chase Home Lending Mortgage Trust, Ser 2024-2, Cl A6 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 02/25/55 (A)(B) |  | 369021 |  | 371169 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Residential Mortgage Loan Trust, Ser 2024-NQM5, Cl A1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.649%, 10/25/69 (A)(B) |  | 1715324 |  | 1724977 |
| &nbsp;&nbsp;&nbsp;New Residential Mortgage Loan Trust, Ser 2024-NQM1, Cl A1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.129%, 03/25/64 (A)(C) |  | 925056 |  | 931168 |
| &nbsp;&nbsp;&nbsp;PRET Trust, Ser 2025-RPL2, Cl A1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/25/64 (A)(C) |  | 2699670 |  | 2620667 |
| &nbsp;&nbsp;&nbsp;PRET Trust, Ser 2025-RPL3, Cl M2 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.150%, 04/25/65 (A)(C) |  | 5000000 |  | 4586301 |
| &nbsp;&nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2025-12, Cl A4 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 12/25/55 (A)(B) |  | 4208341 |  | 4199159 |
| &nbsp;&nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2025-6, Cl A2 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 07/25/55 (A)(B) |  | 3503483 |  | 3485097 |

---

---

| | | |
|:---|:---|:---|
| **Description** | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Toorak Mortgage Trust, Ser 2024-2, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.329%, 10/25/31 (A)(C) | $1000000 | $1004512 |
| &nbsp;&nbsp;&nbsp;Toorak Mortgage Trust, Ser 2024-RRTL2, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.504%, 09/25/39 (A)(C) | 1000000 | 1002415 |
|  |  | 25332925 |
| Total Mortgage-Backed Securities |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $39,835,636) |  | 39948912 |
| **MUNICIPAL BOND — 1.1%** |  |  |
| &nbsp;&nbsp;&nbsp;North Texas Tollway Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.718%, 01/01/49 | 5000000 | 5381047 |
| Total Municipal Bonds |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $5,618,153) |  | 5381047 |
|  | **Shares** |  |
| **PREFERRED STOCK — 1.0%** |  |  |
| Communication Services — 1.0% |  |  |
| &nbsp;&nbsp;&nbsp;T-Mobile USA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.250%, 09/01/69 | 118061 | 2945622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 03/01/70 | 84848 | 1883626 |
| Total Preferred Stock |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $4,699,872) |  | 4829248 |
|  | **Face Amount** |  |
| **COMMERCIAL PAPER — 3.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Brookfield Infrastructure |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.081%, 05/21/26 (D) | 250000 | 249390 |
| &nbsp;&nbsp;&nbsp;CBRE Services |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.959%, 05/20/26 (D) | 250000 | 249440 |
| &nbsp;&nbsp;&nbsp;Extra Space Storage |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.095%, 05/19/26 (D) | 500000 | 498932 |
| &nbsp;&nbsp;&nbsp;Fidelity National |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.077%, 05/01/26 (D) | 500000 | 499946 |
| &nbsp;&nbsp;&nbsp;Genuine Parts |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.435%, 05/08/26 (D) | 400000 | 399632 |
| &nbsp;&nbsp;&nbsp;Humana |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.042%, 05/04/26 (D) | 750000 | 749670 |
| &nbsp;&nbsp;&nbsp;John Deere Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.688%, 05/21/26 (D) | 250000 | 249451 |
| &nbsp;&nbsp;&nbsp;JTI Fin Services |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.905%, 05/04/26 (D) | 500000 | 499792 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.374%, 06/01/26 (D) | 1000000 | 996208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.101%, 05/01/26 (D) | 8300000 | 8299048 |
| &nbsp;&nbsp;&nbsp;Marsh & Mclennan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.009%, 05/12/26 (D) | 250000 | 249667 |
| &nbsp;&nbsp;&nbsp;Rogers Communications |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.233%, 05/14/26 (D) | 1000000 | 998417 |
| &nbsp;&nbsp;&nbsp;SPIRE INC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.062%, 05/12/26 (D) | 500000 | 499334 |
| &nbsp;&nbsp;&nbsp;Telus Corp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.113%, 05/27/26 (D) | 100000 | 99674 |
| Total Commercial Paper |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $14,540,133) |  | 14538601 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![](fp0099434_01.jpg) | ![](fp0099434_02.jpg) |

---

**FROST CREDIT FUND April 30, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Description** | **Face Amount** | **Value** |
| **REPURCHASE AGREEMENT(E) — 0.7%** | **REPURCHASE AGREEMENT(E) — 0.7%** | **REPURCHASE AGREEMENT(E) — 0.7%** |
| &nbsp;&nbsp;&nbsp;Tri-Party Overnight | &nbsp;&nbsp;&nbsp;Tri-Party Overnight | &nbsp;&nbsp;&nbsp;Tri-Party Overnight |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.550%, dated 04/30/2026, to be repurchased on 05/01/2026, repurchase price $3,600,355 (collateralized by various Government Obligations, ranging in par value $32 - $3,127,708, 0.000% - 9.450%, 05/15/2026 - 11/15/2042, with a total market value of $4,220,009) | $3600000 | $3600000 |
| Total Repurchase Agreement | Total Repurchase Agreement | Total Repurchase Agreement |
| &nbsp;&nbsp;&nbsp;(Cost $3,600,000) |  | 3600000 |
| Total Investments — 99.7% | Total Investments — 99.7% | Total Investments — 99.7% |
| &nbsp;&nbsp;&nbsp;(Cost $495,601,686) |  | $489820980 |

---

Percentages are based on Net Assets of $491,222,762.

&nbsp;&nbsp;&nbsp;&nbsp;*‡* *Real Estate Investment Trust* 

*(A)* *Securities sold within terms of a private placement memorandum, exempt from registration under Section 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other "accredited investors." The total value of such securities at April 30, 2026 was $297,956,939 and represents 60.7% of Net Assets.* 

*(B)* *Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates.* 

*(C)* *Step Bonds — The rate reflected on the Schedule of Investments is the effective yield on April 30, 2026. The coupon on a step bond changes on a specific date.* 

*(D)* *Interest rate represents the security's effective yield at the time of purchase.* 

*(E)* *Tri-Party Repurchase Agreement.* 

*For information on the Fund's policy regarding valuation of investments, fair value hierarchy levels and other significant accounting policies, please refer to the Fund's most recent financial statements.*

*See "Glossary" for abbreviations.*

*FIA-QH-001-3700*

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;![](fp0099434_01.jpg) | ![](fp0099434_02.jpg) |

---

**FROST LOW DURATION BOND FUND April 30, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Description** | **Face Amount** | **Value** |
| **U.S. TREASURY OBLIGATIONS — 45.0%** | **U.S. TREASURY OBLIGATIONS — 45.0%** | **U.S. TREASURY OBLIGATIONS — 45.0%** |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 01/31/29 to 02/28/30 | $80000000 | $80125391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 02/28/31 | 25000000 | 24441406 |
| Total U.S. Treasury Obligations |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $104,061,463) |  | 104566797 |
| **ASSET-BACKED SECURITIES — 25.8%** | **ASSET-BACKED SECURITIES — 25.8%** | **ASSET-BACKED SECURITIES — 25.8%** |
| **Automotive — 19.8%** | **Automotive — 19.8%** | **Automotive — 19.8%** |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust 2026-2, Ser 2026-2, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.180%, 06/08/32 (A) | 5000000 | 4977039 |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2024-3, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.730%, 07/12/30 (A) | 2000000 | 2012399 |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2025-1, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.090%, 08/12/31 (A) | 5000000 | 5024427 |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2026-1, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.100%, 01/12/33 (A) | 5000000 | 4967563 |
| &nbsp;&nbsp;&nbsp;Bridgecrest Lending Auto Securitization Trust, Ser 2025-1, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.150%, 12/17/29 | 3810000 | 3836464 |
| &nbsp;&nbsp;&nbsp;Carmax Auto Owner Trust, Ser 2022-4, Cl D | &nbsp;&nbsp;&nbsp;Carmax Auto Owner Trust, Ser 2022-4, Cl D | &nbsp;&nbsp;&nbsp;Carmax Auto Owner Trust, Ser 2022-4, Cl D |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.080%, 04/16/29 | 1500000 | 1535920 |
| &nbsp;&nbsp;&nbsp;Flagship Credit Auto Trust, Ser 2024-3, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.350%, 07/16/29 (A) | 5000000 | 5008738 |
| &nbsp;&nbsp;&nbsp;Lendbuzz Securitization Trust, Ser 2024-2A, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.520%, 07/16/29 (A) | 1250000 | 1266482 |
| &nbsp;&nbsp;&nbsp;Prestige Auto Receivables Trust, Ser 2021-1A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.080%, 02/15/28 (A) | 2271414 | 2253082 |
| &nbsp;&nbsp;&nbsp;Prestige Auto Receivables Trust, Ser 2023-2A, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.120%, 08/15/29 (A) | 4250000 | 4271420 |
| &nbsp;&nbsp;&nbsp;Westlake Automobile Receivables Trust, Ser 2023-2A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.010%, 11/15/28 (A) | 3000000 | 3039543 |
| &nbsp;&nbsp;&nbsp;WF Card Issuance Trust, Ser 2026-A1, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.080%, 04/15/31 | 8000000 | 7977417 |
|  |  | 46170494 |
| **Credit Card — 0.9%** | **Credit Card — 0.9%** | **Credit Card — 0.9%** |
| &nbsp;&nbsp;&nbsp;World Financial Network Credit Card Master Trust, Ser 2024-A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.470%, 02/15/31 | 2000000 | 2025076 |

---

---

| | | |
|:---|:---|:---|
| **Description** | **Face Amount** | **Value** |
| **Other Asset-Backed Securities — 5.1%** | **Other Asset-Backed Securities — 5.1%** | **Other Asset-Backed Securities — 5.1%** |
| &nbsp;&nbsp;&nbsp;Aqua Finance Trust, Ser 2021-A, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.400%, 07/17/46 (A) | $913947 | $849051 |
| &nbsp;&nbsp;&nbsp;BXG Receivables Note Trust, Ser 2023-A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.770%, 11/15/38 (A) | 1556586 | 1575928 |
| &nbsp;&nbsp;&nbsp;CLI Funding VI, Ser 2020-1A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.080%, 09/18/45 (A) | 1094286 | 1028116 |
| &nbsp;&nbsp;&nbsp;Commonbond Student Loan Trust, Ser 2017-AGS, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.550%, 05/25/41 (A) | 178675 | 171667 |
| &nbsp;&nbsp;&nbsp;Dext ABS, Ser 2025-1, Cl B | &nbsp;&nbsp;&nbsp;Dext ABS, Ser 2025-1, Cl B | &nbsp;&nbsp;&nbsp;Dext ABS, Ser 2025-1, Cl B |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.980%, 08/15/35 (A) | 2750000 | 2767045 |
| &nbsp;&nbsp;&nbsp;Hilton Grand Vacations Trust, Ser 2024-1B, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.990%, 09/15/39 (A) | 225039 | 228778 |
| &nbsp;&nbsp;&nbsp;Hilton Grand Vacations Trust, Ser 2024-2A, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.990%, 03/25/38 (A) | 1230527 | 1254484 |
| &nbsp;&nbsp;&nbsp;Hilton Grand Vacations Trust, Ser 2024-3A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.980%, 08/27/40 (A) | 1575013 | 1581788 |
| &nbsp;&nbsp;&nbsp;Mosaic Solar Loan Trust, Ser 2021-3A, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.920%, 06/20/52 (A) | 533906 | 383509 |
| &nbsp;&nbsp;&nbsp;Mosaic Solar Loans Trust, Ser 2017-1A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.450%, 06/20/42 (A) | 105227 | 103387 |
| &nbsp;&nbsp;&nbsp;New Economy Assets Phase 1 Sponsor, Ser 2021-1, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.910%, 10/20/61 (A) | 2000000 | 1680000 |
| &nbsp;&nbsp;&nbsp;Oportun Issuance Trust, Ser 2021-B, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.470%, 05/08/31 (A) | 214042 | 210631 |
|  |  | 11834384 |
| Total Asset-Backed Securities |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $60,458,849) |  | 60029954 |
| **CORPORATE OBLIGATIONS — 17.0%** | **CORPORATE OBLIGATIONS — 17.0%** |  |
| **Communication Services — 5.1%** |  |  |
| &nbsp;&nbsp;&nbsp;News | &nbsp;&nbsp;&nbsp;News | &nbsp;&nbsp;&nbsp;News |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875%, 05/15/29(A) | 6000000 | 5803847 |
| &nbsp;&nbsp;&nbsp;WMG Acquisition |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.750%, 12/01/29(A) | 6500000 | 6170527 |
|  |  | 11974374 |
| **Energy — 2.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.512%, SOFR + 1.650%, 05/22/31 (A)(B) | 5000000 | 5105669 |
| **Financials — 4.5%** | **Financials — 4.5%** | **Financials — 4.5%** |
| &nbsp;&nbsp;&nbsp;Ally Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.737%, SOFRINDX + 1.960%, 05/15/29(B) | 2000000 | 2030454 |
| &nbsp;&nbsp;&nbsp;Capital One Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.463%, SOFR + 1.560%, 07/26/30(B) | 4000000 | 4085162 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![](fp0099434_01.jpg) | ![](fp0099434_02.jpg) |

---

**FROST LOW DURATION BOND FUND April 30, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Description** | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.800%, 03/10/31 | 1000000 | 994656 |
| &nbsp;&nbsp;&nbsp;Golub Capital BDC | &nbsp;&nbsp;&nbsp;Golub Capital BDC | &nbsp;&nbsp;&nbsp;Golub Capital BDC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.050%, 12/05/28 | 1200000 | 1234338 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase | &nbsp;&nbsp;&nbsp;JPMorgan Chase | &nbsp;&nbsp;&nbsp;JPMorgan Chase |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.995%, SOFR + 1.125%, 07/22/30(B) | 2000000 | 2024654 |
|  |  | 10369264 |
| **Industrials — 2.2%** | **Industrials — 2.2%** | **Industrials — 2.2%** |
| &nbsp;&nbsp;&nbsp;MasTec | &nbsp;&nbsp;&nbsp;MasTec | &nbsp;&nbsp;&nbsp;MasTec |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.625%, 08/15/29 (A) | 5173000 | 5173000 |
| **Information Technology — 3.0%** | **Information Technology — 3.0%** | **Information Technology — 3.0%** |
| &nbsp;&nbsp;&nbsp;Kyndryl Holdings | &nbsp;&nbsp;&nbsp;Kyndryl Holdings | &nbsp;&nbsp;&nbsp;Kyndryl Holdings |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.050%, 10/15/26 | 7000000 | 6908088 |
| Total Corporate Obligations |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $39,550,509) |  | 39530395 |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS — 4.3%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS — 4.3%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS — 4.3%** |
| &nbsp;&nbsp;&nbsp;FHLB | &nbsp;&nbsp;&nbsp;FHLB | &nbsp;&nbsp;&nbsp;FHLB |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 04/08/31 | 5000000 | 4969436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/23/30 | 5000000 | 4937901 |
| Total U.S. Government Agency Obligations | Total U.S. Government Agency Obligations |  |
| &nbsp;&nbsp;&nbsp;(Cost $10,000,000) |  | 9907337 |
| **MUNICIPAL BOND — 3.3%** | **MUNICIPAL BOND — 3.3%** | **MUNICIPAL BOND — 3.3%** |
| &nbsp;&nbsp;&nbsp;Texas State, Transportation Commission State Highway Fund, Ser B-BUILD, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.178%, 04/01/30 | 7625000 | 7734893 |
| Total Municipal Bonds |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $7,798,092) |  | 7734893 |
| **MORTGAGE-BACKED SECURITIES — 1.4%** | **MORTGAGE-BACKED SECURITIES — 1.4%** | **MORTGAGE-BACKED SECURITIES — 1.4%** |
| **Agency Mortgage-Backed Obligation — 1.2%** | **Agency Mortgage-Backed Obligation — 1.2%** | **Agency Mortgage-Backed Obligation — 1.2%** |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2025-148, Cl PT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 12/16/64 (B) | 2979867 | 2861747 |
| **Commercial Mortgage-Backed Obligation — 0.0%** | **Commercial Mortgage-Backed Obligation — 0.0%** | **Commercial Mortgage-Backed Obligation — 0.0%** |
| &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust, Ser 2020-B19, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.691%, 09/15/53 | 20610 | 20564 |
| **Non-Agency Residential Mortgage-Backed Obligation — 0.2%** | **Non-Agency Residential Mortgage-Backed Obligation — 0.2%** | **Non-Agency Residential Mortgage-Backed Obligation — 0.2%** |
| &nbsp;&nbsp;&nbsp;Chase Home Lending Mortgage Trust, Ser 2024-2, Cl A6 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 02/25/55 (A)(B) | 369021 | 371169 |
| Total Mortgage-Backed Securities |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $3,197,641) |  | 3253480 |
| **COMMERCIAL PAPER — 2.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Genuine Parts | &nbsp;&nbsp;&nbsp;Genuine Parts | &nbsp;&nbsp;&nbsp;Genuine Parts |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.435%, 05/08/26 (C) | 100000 | 99908 |
| &nbsp;&nbsp;&nbsp;Hilltop | &nbsp;&nbsp;&nbsp;Hilltop | &nbsp;&nbsp;&nbsp;Hilltop |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.955%, 05/20/26 (C) | 4000000 | 3990720 |
| &nbsp;&nbsp;&nbsp;Humana | &nbsp;&nbsp;&nbsp;Humana | &nbsp;&nbsp;&nbsp;Humana |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.042%, 05/04/26 (C) | 250000 | 249890 |

---

---

| | | |
|:---|:---|:---|
| **Description** | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc | &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc | &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.310%, 05/04/26 (C) | $300000 | $299862 |
| &nbsp;&nbsp;&nbsp;Marsh & Mclennan | &nbsp;&nbsp;&nbsp;Marsh & Mclennan | &nbsp;&nbsp;&nbsp;Marsh & Mclennan |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.009%, 05/12/26 (C) | 100000 | 99867 |
| &nbsp;&nbsp;&nbsp;Oracle Corp | &nbsp;&nbsp;&nbsp;Oracle Corp | &nbsp;&nbsp;&nbsp;Oracle Corp |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.253%, 05/22/26 (C) | 500000 | 498752 |
| Total Commercial Paper |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $5,240,058) |  | 5238999 |
| Total Investments — 99.1% |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $230,306,612) |  | $230261855 |

---

Percentages are based on Net Assets of $232,384,133.

&nbsp;&nbsp;&nbsp;&nbsp;*(A)* *Securities sold within terms of a private placement memorandum, exempt from registration under Section 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other "accredited investors." The total value of such securities at April 30, 2026 was $67,279,289 and represents 29.0% of Net Assets.* 

*(B)* *Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates.* 

*(C)* *Interest rate represents the security's effective yield at the time of purchase.* 

*For information on the Fund's policy regarding valuation of investments, fair value hierarchy levels and other significant accounting policies, please refer to the Fund's most recent financial statements.* 

*See "Glossary" for abbreviations.* 

*FIA-QH-001-3700*

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![](fp0099434_01.jpg) | ![](fp0099434_02.jpg) |

---

**Glossary April 30, 2026 (Unaudited)**

---

| |
|:---|
| ***Fund Abbreviations*** |
| *ABS — Asset-Backed Security* |
| *Cl — Class* |
| *CLO — Collateralized Loan Obligation* |
| *FHLB — Federal Home Loan Bank* |
| *FHLMC — Federal Home Loan Mortgage Corporation* |
| *FNMA — Federal National Mortgage Association* |
| *GNMA — Government National Mortgage Association* |
| *GO — General Obligation* |
| *H15T1Y — 1 Year US Treasury Yield Curve Constant Maturity Rate* |
| *H15T5Y — 5 Year US Treasury Yield Curve Constant Maturity Rate* |
| *IO — Interest Only - face amount represents notional amount* |
| *MTN — Medium Term Note* |
| *PSF-GTD — Texas Public School Fund Guarantee* |
| *RB — Revenue Bond* |
| *Ser — Series* |
| *SOFRINDX — Secured Overnight Financing Rate Index* |
| *SOFR30A — Secured Overnight Financing Rate 30 Day Average* |
| *STRIPS — Separately Traded Registered Interest and Principal Securities* |
| *TA — Tax Allocation* |
| *TSFR1M — 1 Month CME Term Secured* |
| *TSFR3M — 3 Month CME Term Secured* |
| *US0001M — ICE LIBOR USD 1 Month* |

---

---

| |
|:---|
| ***Currency Abbreviations*** |
| *USD — U.S. Dollar* |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Frost Family of Funds

- **b. Investment Company Act file number:** 811-23410

- **c. CIK number of Registrant:** 0001762332

- **d. LEI of Registrant:** 549300NT5CDF9X050U77

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

  - **Street Address 1:** ONE FREEDOM VALLEY DRIVE

  - **City:** OAKS

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19456

  - **Telephone number:** 8774463863

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

- **a. Name of Series:** Frost Low Duration Bond Fund

- **b. EDGAR series identifier (if any):** S000065043

- **c. LEI of Series:** 549300JDGY7DZO78QS79

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

- **a. Date of fiscal year-end:** 2026-07-31

- **b. Date as of which information is reported:** 2026-04-30

**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:** $232484366.55

**Total Liabilities:** $100233.55

**Net Assets:** $232384133.00

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -858.22481157 | **1-Year:** -8545.35712767 | **5-Year:** -11069.05005145 | **10-Year:** -34.93653894 | **30-Year:** 0.00000001

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -63.45299643 | **1-Year:** -1462.89126765 | **5-Year:** -1613.70366393 | **10-Year:** -537.79544691 | **30-Year:** -74.88641386

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000210580 | 0.11%                | -0.67%               | 0.69%                |
| Class ID C000210579 | 0.23%                | -0.65%               | 0.71%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-354161.64              | $-8458.01                                  |
| Month 2  | $170126.92               | $-2555504.45                               |
| Month 3  | $44772.54                | $1028986.63                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AMERICAN CREDIT ACCEPTANCE RECEIVABLES TRUST          | AMERICAN CREDIT ACCEPTANCE RECEIVABLES TRUST 2025- ACAR 2025-1 C                 | CUSIP: 02528DAE0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   5000000 | PA      | $5024427.50   | 2.16%             | 2031-08-12      | Fixed         | 5.09%                 | Yes           |                  2 | On Loan: No      |
| DEXT ABS LLC                                          | DEXT ABS 2025-1 LLC DEXT 2025-1 B                                                | CUSIP: 252154AD1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   2750000 | PA      | $2767045.33   | 1.19%             | 2035-08-15      | Fixed         | 4.98%                 | Yes           |                  2 | On Loan: No      |
| BRIDGECREST LENDING AUTO SECURITIZATION TRUST         | BRIDGECREST LENDING AUTO SECURITIZATION TRUST 2025 BLAST 2025-1 C                | CUSIP: 10806HAE7<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   3810000 | PA      | $3836463.50   | 1.65%             | 2029-12-17      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| WMG ACQUISITION CORP.                                 | WMG ACQUISITION CORP 144A 3.750000% 12/01/2029                                   | CUSIP: 92933BAT1<br>LEI: 549300NAS11NXI33CP80 | Long             | DBT              | CORP              | US        |   6500000 | PA      | $6170526.70   | 2.66%             | 2029-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BXG RECEIVABLES NOTE TRUST                            | BXG RECEIVABLES NOTE TRUST 2023-A BXGNT 2023-A A                                 | CUSIP: 123919AA0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1556586 | PA      | $1575927.87   | 0.68%             | 2038-11-15      | Fixed         | 5.77%                 | Yes           |                  2 | On Loan: No      |
| KYNDRYL HOLDINGS, INC.                                | KYNDRYL HOLDINGS INC 2.050000% 10/15/2026                                        | CUSIP: 50155QAJ9<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $6908087.48   | 2.97%             | 2026-10-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| PRESTIGE AUTO RECEIVABLES TRUST                       | PRESTIGE AUTO RECEIVABLES TRUST 2023-2 PART 2023-2A C                            | CUSIP: 74113VAG5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   4250000 | PA      | $4271420.43   | 1.84%             | 2029-08-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| THE FEDERAL HOME LOAN BANKS                           | FEDERAL HOME LOAN BANK 4.500000% 04/08/2031                                      | CUSIP: 3130BA6C6<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   5000000 | PA      | $4969436.40   | 2.14%             | 2031-04-08      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WORLD FINANCIAL NETWORK CREDIT CARD MASTER NOTE TRUST | WORLD FINANCIAL NETWORK CREDIT CARD MASTER TRUST WFNMT 2024-A A                  | CUSIP: 981464HR4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   2000000 | PA      | $2025075.40   | 0.87%             | 2031-02-15      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| GENUINE PARTS COMPANY                                 | GENUINE PARTS CO 0% CP                                                           | CUSIP: 37255GE87<br>LEI: 549300D46DQVEU651W04 | Long             | ABS-APCP         |  | US        |    100000 | PA      | $99908.10     | 0.04%             | 2026-05-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States of America                              | US TREASURY N/B 3.500000% 02/28/2031                                             | CUSIP: 91282CQD6<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  25000000 | PA      | $24441406.25  | 10.52%            | 2031-02-28      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC.                                 | KEURIG DR PEPPER INC 0% CP                                                       | CUSIP: 49271KE42<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | ABS-APCP         |  | US        |    300000 | PA      | $299862.33    | 0.13%             | 2026-05-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HILTON GRAND VACATIONS TRUST                          | HILTON GRAND VACATIONS TRUST 2024-1B HGVT 2024-1B B                              | CUSIP: 43283YAB9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    225039 | PA      | $228777.78    | 0.10%             | 2039-09-15      | Fixed         | 5.99%                 | Yes           |                  2 | On Loan: No      |
| FIDELITY NATIONAL INFORMATION SERVICES, INC.          | FIDELITY NATIONAL INFORMATION SERVICES INC 4.800000% 03/10/2031                  | CUSIP: 31620MCE4<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $994655.84    | 0.43%             | 2031-03-10      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| FLAGSHIP CREDIT AUTO TRUST                            | FLAGSHIP CREDIT AUTO TRUST 2024-3 FCAT 2024-3 B                                  | CUSIP: 33843YAC1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   5000000 | PA      | $5008738.00   | 2.16%             | 2029-07-16      | Fixed         | 5.35%                 | Yes           |                  2 | On Loan: No      |
| NEWS CORPORATION                                      | NEWS CORP 144A 3.875000% 05/15/2029                                              | CUSIP: 65249BAA7<br>LEI: 549300ITS31QK8VRBQ14 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5803847.34   | 2.50%             | 2029-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| MOSAIC SOLAR LOAN TRUST                               | MOSAIC SOLAR LOANS 2017-1 LLC MSAIC 2017-1A A                                    | CUSIP: 61946EAA6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    105227 | PA      | $103386.84    | 0.04%             | 2042-06-20      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| TEXAS TRANSN COMMN ST HWY FD REV                      | TEXAS TRANSPRTN COMMISSION ST TEXAS DEPARTMENT OF TRANSPORTATION STATE HIGHWAY F | CUSIP: 88283LHU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7625000 | PA      | $7734893.03   | 3.33%             | 2030-04-01      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| SEACUBE CONTAINER CLIF                                | CLI FUNDING VI LLC CLIF 2020-1A A                                                | CUSIP: 12563LAN7<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1094286 | PA      | $1028116.39   | 0.44%             | 2045-09-18      | Fixed         | 2.08%                 | No            |                  2 | On Loan: No      |
| COMMONBOND STUDENT LOAN TRUST                         | COMMONBOND STUDENT LOAN TRUST 2017-A-GS CBSLT 2017-AGS A1                        | CUSIP: 20267VAA5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    178675 | PA      | $171666.52    | 0.07%             | 2041-05-25      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| CHASE HOME LENDING MORTGAGE TRUST                     | CHASE HOME LENDING MORTGAGE TRUST SERIES 2024-2 CHASE 2024-2 A6                  | CUSIP: 161929AH7<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    369021 | PA      | $371169.29    | 0.16%             | 2055-02-25      | Floating      | 6.50%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                   | BROWN BROTHERS HARRIMAN SWEEP INTEREST                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |    549622 | PA      | $549622.14    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| LENDBUZZ SECURITIZATION TRUST                         | LENDBUZZ SECURITIZATION TRUST 2024-2 LBZZ 2024-2A B                              | CUSIP: 525920AC8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1250000 | PA      | $1266481.50   | 0.54%             | 2029-07-16      | Fixed         | 6.52%                 | Yes           |                  2 | On Loan: No      |
| HUMANA INC.                                           | HUMANA INC 0% CP                                                                 | CUSIP: 44486JE47<br>LEI: 529900YLDW34GJAO4J06 | Long             | ABS-APCP         |  | US        |    250000 | PA      | $249889.95    | 0.11%             | 2026-05-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN CREDIT ACCEPTANCE RECEIVABLES TRUST          | AMERICAN CREDIT ACCEPTANCE RECEIVABLES TRUST 2026- ACAR 2026-2 D                 | CUSIP: 02528FAG0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   5000000 | PA      | $4977038.91   | 2.14%             | 2032-06-08      | Fixed         | 5.18%                 | Yes           |                  2 | On Loan: No      |
| United States of America                              | US TREASURY N/B 4.000000% 02/28/2030                                             | CUSIP: 91282CGQ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  45000000 | PA      | $45047461.05  | 19.38%            | 2030-02-28      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OPORTUN FUNDING LLC                                   | OPORTUN ISSUANCE TRUST 2021-B OPTN 2021-B A                                      | CUSIP: 68377GAA4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    214042 | PA      | $210631.37    | 0.09%             | 2031-05-08      | Fixed         | 1.47%                 | Yes           |                  2 | On Loan: No      |
| ORACLE CORPORATION                                    | ORACLE CORP 0% CP                                                                | CUSIP: 6840C3EN9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | ABS-APCP         |  | US        |    500000 | PA      | $498752.25    | 0.21%             | 2026-05-22      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC.                                   | ALLY FINANCIAL INC 5.737000% 05/15/2029                                          | CUSIP: 02005NBZ2<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2030454.10   | 0.87%             | 2029-05-15      | Fixed         | 5.74%                 | No            |                  2 | On Loan: No      |
| AQUA FINANCE TRUST                                    | AQUA FINANCE TRUST 2021-A AQFIT 2021-A B                                         | CUSIP: 03842VAB3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    913947 | PA      | $849051.48    | 0.37%             | 2046-07-17      | Fixed         | 2.40%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN CREDIT ACCEPTANCE RECEIVABLES TRUST          | AMERICAN CREDIT ACCEPTANCE RECEIVABLES TRUST 2024- ACAR 2024-3 C                 | CUSIP: 02490BAE8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   2000000 | PA      | $2012398.60   | 0.87%             | 2030-07-12      | Fixed         | 5.73%                 | Yes           |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO.                                  | JPMORGAN CHASE & CO 4.995000% 07/22/2030                                         | CUSIP: 46647PEJ1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2024654.22   | 0.87%             | 2030-07-22      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW ECONOMY ASSETS PHASE I SPONSOR LLC                | NEW ECONOMY ASSETS - PHASE 1 SPONSOR LLC USRE 2021-1 A1                          | CUSIP: 643821AA9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   2000000 | PA      | $1680000.00   | 0.72%             | 2061-10-20      | Fixed         | 1.91%                 | Yes           |                  2 | On Loan: No      |
| HILTON GRAND VACATIONS TRUST                          | HILTON GRAND VACATIONS TRUST 2024-2 HGVT 2024-2A C                               | CUSIP: 43283JAC0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1230527 | PA      | $1254483.52   | 0.54%             | 2038-03-25      | Fixed         | 5.99%                 | Yes           |                  2 | On Loan: No      |
| WESTLAKE AUTOMOBILE RECEIVABLES TRUST                 | WESTLAKE AUTOMOBILE RECEIVABLES TRUST 2023-2 WLAKE 2023-2A D                     | CUSIP: 959926AG1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   3000000 | PA      | $3039543.30   | 1.31%             | 2028-11-15      | Fixed         | 7.01%                 | Yes           |                  2 | On Loan: No      |
| BENCHMARK MORTGAGE TRUST                              | BENCHMARK 2020-B19 MORTGAGE TRUST BMARK 2020-B19 A2                              | CUSIP: 08162WAZ9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     20610 | PA      | $20563.57     | 0.01%             | 2053-09-15      | Fixed         | 1.69%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE SA                                   | SOCIETE GENERALE SA 144A 5.512000% 05/22/2031                                    | CUSIP: 83368RCG5<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | NUSS              | FR        |   5000000 | PA      | $5105669.50   | 2.20%             | 2031-05-22      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| CARMAX AUTO OWNER TRUST                               | CARMAX AUTO OWNER TRUST 2022-4 CARMX 2022-4 D                                    | CUSIP: 14318UAH4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1500000 | PA      | $1535920.05   | 0.66%             | 2029-04-16      | Fixed         | 8.08%                 | No            |                  2 | On Loan: No      |
| AMERICAN CREDIT ACCEPTANCE RECEIVABLES TRUST          | AMERICAN CREDIT ACCEPTANCE RECEIVABLES TRUST 2026- ACAR 2026-1 D                 | CUSIP: 02531FAG5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   5000000 | PA      | $4967563.50   | 2.14%             | 2033-01-12      | Fixed         | 5.10%                 | Yes           |                  2 | On Loan: No      |
| MARSH & MCLENNAN COMPANIES, INC.                      | MARSH & MCLENNAN CO INC 0% CP                                                    | CUSIP: 57174WEC9<br>LEI: 549300XMP3KDCKJXIU47 | Long             | ABS-APCP         |  | US        |    100000 | PA      | $99866.87     | 0.04%             | 2026-05-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CORPORATION                     | CAPITAL ONE FINANCIAL CORP 5.463000% 07/26/2030                                  | CUSIP: 14040HDG7<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4085161.56   | 1.76%             | 2030-07-26      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association              | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-148 PT                         | CUSIP: 38381ME55<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   2979867 | PA      | $2861746.92   | 1.23%             | 2064-12-16      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| PRESTIGE AUTO RECEIVABLES TRUST                       | PRESTIGE AUTO RECEIVABLES TRUST 2021-1 PART 2021-1A D                            | CUSIP: 74113XAF3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   2271414 | PA      | $2253081.97   | 0.97%             | 2028-02-15      | Fixed         | 2.08%                 | Yes           |                  2 | On Loan: No      |
| HILLTOP SECURITIES INC.                               | HILLTOP SECURITIES INC 0% CP                                                     | CUSIP: 43276UEL0<br>LEI: 549300IXU82PMU6XZT45 | Long             | ABS-APCP         |  | US        |   4000000 | PA      | $3990720.00   | 1.72%             | 2026-05-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| THE FEDERAL HOME LOAN BANKS                           | FEDERAL HOME LOAN BANK 4.000000% 12/23/2030                                      | CUSIP: 3130B8WE8<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   5000000 | PA      | $4937900.80   | 2.12%             | 2030-12-23      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HILTON GRAND VACATIONS TRUST                          | HILTON GRAND VACATIONS TRUST 2024-3 HGVT 2024-3A A                               | CUSIP: 43283NAA5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1575013 | PA      | $1581788.33   | 0.68%             | 2040-08-27      | Fixed         | 4.98%                 | Yes           |                  2 | On Loan: No      |
| MOSAIC SOLAR LOAN TRUST                               | MOSAIC SOLAR LOAN TRUST 2021-3 MSAIC 2021-3A B                                   | CUSIP: 61946TAB1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    533906 | PA      | $383508.96    | 0.17%             | 2052-06-20      | Fixed         | 1.92%                 | Yes           |                  2 | On Loan: No      |
| GOLUB CAPITAL BDC, INC.                               | GOLUB CAPITAL BDC INC 7.050000% 12/05/2028                                       | CUSIP: 38173MAD4<br>LEI: 2549005WE0QLGK9APF78 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1234338.28   | 0.53%             | 2028-12-05      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| MASTEC, INC.                                          | MASTEC INC 144A 6.625000% 08/15/2029                                             | CUSIP: 576323AQ2<br>LEI: 549300TMDIT8WREDOF45 | Long             | DBT              | CORP              | US        |   5173000 | PA      | $5173000.00   | 2.23%             | 2029-08-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| WF CARD ISSUANCE TRUST                                | WF CARD ISSUANCE TRUST WFCIT 2026-A1 A                                           | CUSIP: 92970QAK1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   8000000 | PA      | $7977416.80   | 3.43%             | 2031-04-15      | Fixed         | 4.08%                 | Yes           |                  2 | On Loan: No      |
| United States of America                              | US TREASURY N/B 4.000000% 01/31/2029                                             | CUSIP: 91282CJW2<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  35000000 | PA      | $35077929.60  | 15.09%            | 2029-01-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-30

**Name of Applicant:** Frost Family of Funds

**Signature:** Andrew Metzger

**Name of Signer:** Andrew Metzger

**Title:** CFO