# EDGAR Filing Document

**Accession Number:** 0000720309
**File Stem:** 0001752724-25-212601
**Filing Date:** 2025-8
**Character Count:** 68904
**Document Hash:** 78b5867a72741c07145c0d7ca9ac80b1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-212601.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0001752724-25-212601

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250829

**DATE AS OF CHANGE**: 20250829

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMG FUNDS III
- **CENTRAL INDEX KEY:** 0000720309

**ORGANIZATION NAME:**
- **EIN:** 222528211
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03752
- **FILM NUMBER:** 251278338

**BUSINESS ADDRESS:**
- **STREET 1:** 680 WASHINGTON BOULEVARD, SUITE 500
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06901
- **BUSINESS PHONE:** 2032993500

**MAIL ADDRESS:**
- **STREET 1:** 680 WASHINGTON BOULEVARD, SUITE 500
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06901

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MANAGERS FUNDS
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MANAGEMENT OF MANAGERS GROUP OF FUNDS
- **DATE OF NAME CHANGE:** 19910429

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MANAGEMENT OF MANAGERS CAPITAL APPRECIATION FUND
- **DATE OF NAME CHANGE:** 19881214

## Series and Classes Contracts Data

### AMG GW&K ESG Bond Fund (Series ID: S000009868)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000027310 | Class N      | MGFIX           |
| C000125498 | Class I      | MGBIX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** AMG Funds III

- **b. Investment Company Act file number:** 811-03752

- **c. CIK number of Registrant:** 0000720309

- **d. LEI of Registrant:** 5493007NETBE5Y5V1962

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

  - **Street Address 1:** 680 Washington Blvd.

  - **City:** Stamford

  - **State:** CT

  - **Foreign country:** US

  - **Zip / Postal Code:** 06901

  - **Telephone number:** 800-548-4539

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

- **a. Name of Series:** AMG GW&K ESG Bond Fund

- **b. EDGAR series identifier (if any):** S000009868

- **c. LEI of Series:** 549300GNM1WYO24HFQ54

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

- **a. Date of fiscal year-end:** 2025-12-31

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $376780897.73

**Total Liabilities:** $23248704.57

**Net Assets:** $353532193.16

**Cash Not Reported:** $1323.92

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 400.66025000 | **1-Year:** 7386.48925000 | **5-Year:** 78618.90424000 | **10-Year:** 43323.50625000 | **30-Year:** 3459.34001000

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

- **3-Month:** 34.49198000 | **1-Year:** 7555.73819000 | **5-Year:** 13101.49097000 | **10-Year:** 2424.73513000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000125498 | 0.14%                | -0.30%               | 1.82%                |
| Class ID C000027310 | 0.13%                | -0.32%               | 1.80%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-852955.98              | $84491.28                                  |
| Month 2  | $-917686.26              | $-1396313.93                               |
| Month 3  | $-778529.86              | $5850707.46                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| PENSKE AUTOMOTIVE GROUP             | Penske Automotive Group Inc                              | CUSIP: 70959WAK9<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1422870.90   | 0.40%             | 2029-06-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                         | Freddie Mac REMICS                                       | CUSIP: 3137H9RL5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1751095 | PA      | $1744584.15   | 0.49%             | 2052-12-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MATTEL INC                          | Mattel Inc                                               | CUSIP: 577081BF8<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |   1075000 | PA      | $1030042.21   | 0.29%             | 2029-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE             | Teva Pharmaceutical Finance Netherlands III BV           | CUSIP: 88167AAQ4<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   2300000 | PA      | $2313250.30   | 0.65%             | 2029-05-09      | Fixed         | 5.12%                 | No            |                  2 | On Loan: —       |
| MURPHY OIL USA INC                  | Murphy Oil USA Inc                                       | CUSIP: 626738AE8<br>LEI: N32S6DTR2ZZ5222WHV58 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $1031718.14   | 0.29%             | 2029-09-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CISCO SYSTEMS INC                   | Cisco Systems Inc                                        | CUSIP: 17275RAF9<br>LEI: 549300LKFJ962MZ46593 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1446098.77   | 0.41%             | 2040-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                         | Freddie Mac Pool                                         | CUSIP: 3132DWBK8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  10700953 | PA      | $9357746.84   | 2.65%             | 2051-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                     | United States Treasury Note/Bond                         | CUSIP: 912810SC3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10968000 | PA      | $8321541.59   | 2.35%             | 2048-05-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                      | Morgan Stanley                                           | CUSIP: 6174468G7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1548000 | PA      | $1545823.64   | 0.44%             | 2030-01-23      | Fixed         | 4.43%                 | No            |                  2 | On Loan: No      |
| HCA INC                             | HCA Inc                                                  | CUSIP: 404119CA5<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1550000 | PA      | $1465731.07   | 0.41%             | 2030-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SYSCO CORPORATION                   | Sysco Corp                                               | CUSIP: 871829BK2<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $914695.24    | 0.26%             | 2030-02-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| KYNDRYL HOLDINGS INC                | Kyndryl Holdings Inc                                     | CUSIP: 50155QAL4<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | DBT              | CORP              | US        |   2375000 | PA      | $2144874.92   | 0.61%             | 2031-10-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                         | Freddie Mac Pool                                         | CUSIP: 3132DV5E1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4187095 | PA      | $3807801.92   | 1.08%             | 2050-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                     | United States Treasury Note/Bond                         | CUSIP: 912810SN9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5625000 | PA      | $2701757.81   | 0.76%             | 2050-05-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP              | CCO Holdings LLC / CCO Holdings Capital Corp             | CUSIP: 1248EPCN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2328107.00   | 0.66%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust             | Carmax Auto Owner Trust 2025-1                           | CUSIP: 14319WAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1547000 | PA      | $1548489.76   | 0.44%             | 2028-03-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| AUTONATION INC                      | AutoNation Inc                                           | CUSIP: 05329RAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1473948.42   | 0.42%             | 2032-03-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| BOSTON PROPERTIES LP                | Boston Properties LP                                     | CUSIP: 10112RBE3<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              | CORP              | US        |   1730000 | PA      | $1459455.56   | 0.41%             | 2032-04-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                         | Freddie Mac REMICS                                       | CUSIP: 3137FYX43<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3815288 | PA      | $3583965.35   | 1.01%             | 2041-03-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| KB HOME                             | KB Home                                                  | CUSIP: 48666KAY5<br>LEI: 549300LGUCWQURMWLG09 | Long             | DBT              | CORP              | US        |   1222000 | PA      | $1190064.25   | 0.34%             | 2029-11-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: —       |
| Palmer Square CLO Ltd               | Palmer Square CLO 2018-2 Ltd                             | CUSIP: 69688MAN5<br>LEI: 549300EYS8N79JYSXL17 | Long             | ABS-CBDO         | CORP              | KY        |    990000 | PA      | $995486.68    | 0.28%             | 2037-04-16      | Floating      | 5.79%                 | No            |                  2 | On Loan: No      |
| WHIRLPOOL CORP                      | Whirlpool Corp                                           | CUSIP: 963320AW6<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1769841.36   | 0.50%             | 2029-02-26      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| M/I HOMES INC                       | M/I Homes Inc                                            | CUSIP: 55305BAV3<br>LEI: 5299005M71FH9CCSFB69 | Long             | DBT              | CORP              | US        |    335000 | PA      | $313355.52    | 0.09%             | 2030-02-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| JACOBS ENGINEERING GROUP            | Jacobs Engineering Group Inc                             | CUSIP: 469814AA5<br>LEI: 549300CZ8QS1GE53O776 | Long             | DBT              | CORP              | US        |   3168000 | PA      | $3296610.82   | 0.93%             | 2033-03-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                     | United States Treasury Note/Bond                         | CUSIP: 912810RQ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1796000 | PA      | $1244571.88   | 0.35%             | 2046-02-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                | M&T Bank Corp                                            | CUSIP: 55261FAS3<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |   1837000 | PA      | $1992330.49   | 0.56%             | 2029-10-30      | Fixed         | 7.41%                 | No            |                  2 | On Loan: —       |
| OWENS CORNING                       | Owens Corning                                            | CUSIP: 690742AB7<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $2019310.88   | 0.57%             | 2036-12-01      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| ADVANCE AUTO PARTS                  | Advance Auto Parts Inc                                   | CUSIP: 00751YAF3<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |    850000 | PA      | $793512.83    | 0.22%             | 2027-10-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                | Bank of America Corp                                     | CUSIP: 06051GHS1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2775000 | PA      | $2304597.54   | 0.65%             | 2050-03-15      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY               | Wells Fargo & Co                                         | CUSIP: 95002YAA1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1462000 | PA      | $1570256.71   | 0.44%             | N/A             | Fixed         | 7.62%                 | No            |                  2 | On Loan: —       |
| ARAMARK SERVICES INC                | Aramark Services Inc                                     | CUSIP: 038522AQ1<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |   1785000 | PA      | $1777816.98   | 0.50%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                | OneMain Finance Corp                                     | CUSIP: 85172FAQ2<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    950000 | PA      | $981045.05    | 0.28%             | 2028-01-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl      | Santander Drive Auto Receivables Trust 2022-7            | CUSIP: 80287FAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1436548 | PA      | $1440755.02   | 0.41%             | 2028-01-17      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                         | Freddie Mac Pool                                         | CUSIP: 3132DQXX9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5695333 | PA      | $5764800.18   | 1.63%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                   | Herc Holdings Inc                                        | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2088714.68   | 0.59%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT INC                       | Open Text Holdings Inc                                   | CUSIP: 683720AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1125000 | PA      | $1063254.38   | 0.30%             | 2030-02-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                          | Fannie Mae Pool                                          | CUSIP: 3140XKDC1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5113283 | PA      | $5153910.95   | 1.46%             | 2052-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                          | Fannie Mae Pool                                          | CUSIP: 31418DET5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   9007286 | PA      | $8206981.53   | 2.32%             | 2049-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                          | Fannie Mae Pool                                          | CUSIP: 3140XDEP7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3049030 | PA      | $2977971.02   | 0.84%             | 2049-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                    | Connecticut Avenue Securities Trust 2024-R06             | CUSIP: 20755RAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    738274 | PA      | $740793.89    | 0.21%             | 2044-09-25      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                          | Fannie Mae Pool                                          | CUSIP: 3140XN5W0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4688458 | PA      | $4892417.27   | 1.38%             | 2054-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Toyota Auto Receivables Owner       | Toyota Auto Receivables 2021-B Owner Trust               | CUSIP: 89190GAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    238906 | PA      | $238500.88    | 0.07%             | 2026-10-15      | Fixed         | 0.53%                 | No            |                  2 | On Loan: No      |
| M/I HOMES INC                       | M/I Homes Inc                                            | CUSIP: 55305BAS0<br>LEI: 5299005M71FH9CCSFB69 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $993657.00    | 0.28%             | 2028-02-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| API GROUP DE INC                    | APi Group DE Inc                                         | CUSIP: 001877AA7<br>LEI: 549300XP4G7B4QYA0G83 | Long             | DBT              | CORP              | US        |   1255000 | PA      | $1196529.17   | 0.34%             | 2029-07-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| CITADEL SECURITIES LLC              | CITADEL SECURITIES LLC                                   | CUSIP: 000000000<br>LEI: 12UUJYTN7D3SW8KCSG25 | Long             | RA               | CORP              | US        |   5734339 | PA      | $5734339.00   | 1.62%             |  |  |  | No            |                  2 | On Loan: No      |
| WALMART INC                         | Walmart Inc                                              | CUSIP: 931142EC3<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |   1850000 | PA      | $1531438.23   | 0.43%             | 2048-06-29      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC            | Celanese US Holdings LLC                                 | CUSIP: 15089QAX2<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |   2049000 | PA      | $2156482.92   | 0.61%             | 2030-11-15      | Variable      | 7.05%                 | No            |                  2 | On Loan: No      |
| PULTEGROUP INC                      | PulteGroup Inc                                           | CUSIP: 745867AT8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2050000 | PA      | $2146948.68   | 0.61%             | 2035-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS              | Verizon Communications Inc                               | CUSIP: 92343VGW8<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   1625000 | PA      | $1570432.48   | 0.44%             | 2054-02-23      | Fixed         | 5.50%                 | No            |                  2 | On Loan: —       |
| STATE OF WISCONSIN INVESTMENT BOARD | STATE OF WISCONSIN INVESTMENT BOARD                      | CUSIP: 000000000<br>LEI: VY0GIYI3352UC4XOP168 | Long             | RA               | CORP              | US        |   5447622 | PA      | $5447622.00   | 1.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Compass Datacenters Issuer II,      | Compass Datacenters Issuer II LLC                        | CUSIP: 20469AAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3050000 | PA      | $3066279.99   | 0.87%             | 2049-02-25      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                     | United States Treasury Note/Bond                         | CUSIP: 912810TN8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6760000 | PA      | $5518378.09   | 1.56%             | 2053-02-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2024-1 AA PTT            | United Airlines 2024-1 Class AA Pass Through Trust       | CUSIP: 90932WAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1898335 | PA      | $1915837.11   | 0.54%             | 2037-02-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                          | Fannie Mae Pool                                          | CUSIP: 31418CXN9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6578937 | PA      | $6226780.07   | 1.76%             | 2048-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ADVOCATE HEALTH CORP                | Advocate Health & Hospitals Corp                         | CUSIP: 007589AB0<br>LEI: 549300AEHU3PPOUCIL87 | Long             | DBT              | CORP              | US        |   1670000 | PA      | $1379921.73   | 0.39%             | 2048-08-15      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC             | Goldman Sachs Group Inc/The                              | CUSIP: 38141GA53<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1650000 | PA      | $1824448.73   | 0.52%             | 2034-10-24      | Fixed         | 6.56%                 | No            |                  2 | On Loan: No      |
| SBA COMMUNICATIONS CORP             | SBA Communications Corp                                  | CUSIP: 78410GAD6<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |   1015000 | PA      | $999370.22    | 0.28%             | 2027-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| TOLL BROS FINANCE CORP              | Toll Brothers Finance Corp                               | CUSIP: 88947EAS9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    750000 | PA      | $752464.68    | 0.21%             | 2027-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                       | Carnival Corp                                            | CUSIP: 143658AH5<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    850000 | PA      | $875777.95    | 0.25%             | 2028-01-15      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                 | Freddie Mac STACR REMIC Trust 2024-DNA1                  | CUSIP: 35564NAX1<br>LEI: 529900N6M839KA246662 | Long             | ABS-MBS          | CORP              | US        |   1354534 | PA      | $1357138.60   | 0.38%             | 2044-02-25      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                | FREMF 2016-K53 Mortgage Trust                            | CUSIP: 30288LAN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2300000 | PA      | $2282695.95   | 0.65%             | 2049-03-25      | Variable      | 4.19%                 | No            |                  2 | On Loan: No      |
| MSCI INC                            | MSCI Inc                                                 | CUSIP: 55354GAQ3<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |   2015000 | PA      | $1765802.73   | 0.50%             | 2033-08-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| METLIFE INC                         | MetLife Inc                                              | CUSIP: 59156RCA4<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |   2880000 | PA      | $2865121.34   | 0.81%             | N/A             | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| LAMAR MEDIA CORP                    | Lamar Media Corp                                         | CUSIP: 513075BW0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1779332.58   | 0.50%             | 2029-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| AVIENT CORP                         | Avient Corp                                              | CUSIP: 05368VAB2<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | DBT              | CORP              | US        |   1575000 | PA      | $1589723.10   | 0.45%             | 2031-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                          | Fannie Mae Pool                                          | CUSIP: 3140X6GB1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4730171 | PA      | $4567207.63   | 1.29%             | 2044-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES             | Royal Caribbean Cruises Ltd                              | CUSIP: 780153BV3<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    875000 | PA      | $891867.38    | 0.25%             | 2033-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES               | Huntington Bancshares Inc/OH                             | CUSIP: 446150BB9<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |   1080000 | PA      | $1079402.46   | 0.31%             | 2028-08-04      | Fixed         | 4.44%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC             | Goldman Sachs Group Inc/The                              | CUSIP: 38141GC28<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1795000 | PA      | $1852418.93   | 0.52%             | N/A             | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| FMC CORP                            | FMC Corp                                                 | CUSIP: 302491AZ8<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | DBT              | CORP              | US        |   1718000 | PA      | $1758156.10   | 0.50%             | 2055-11-01      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                          | Fannie Mae Pool                                          | CUSIP: 3140X6ST9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   7251709 | PA      | $6799154.96   | 1.92%             | 2047-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                   | Clean Harbors Inc                                        | CUSIP: 184496AN7<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |   1270000 | PA      | $1263769.63   | 0.36%             | 2027-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO II Ltd.                 | Elmwood CLO II Ltd                                       | CUSIP: 29001LAW1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1715000 | PA      | $1720573.75   | 0.49%             | 2037-10-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY               | Wells Fargo & Co                                         | CUSIP: 95000U2U6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   2025000 | PA      | $1849331.11   | 0.52%             | 2033-03-02      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| MAREX CAPITAL MARKETS INC.          | MAREX CAPITAL MARKETS INC                                | CUSIP: 000000000<br>LEI: 5493006BWPDUCYG6EQ34 | Long             | RA               | CORP              | US        |   5447622 | PA      | $5447622.00   | 1.54%             |  |  |  | No            |                  2 | On Loan: No      |
| KRAFT HEINZ FOODS CO                | Kraft Heinz Foods Co                                     | CUSIP: 50077LAX4<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |   2480000 | PA      | $2224560.25   | 0.63%             | 2039-10-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| FMG RESOURCES AUG 2006              | FMG Resources August 2006 Pty Ltd                        | CUSIP: 30251GBA4<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |   2000000 | PA      | $1975962.40   | 0.56%             | 2027-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| METHANEX CORP                       | Methanex Corp                                            | CUSIP: 59151KAM0<br>LEI: 549300TSJHRXT9QXRD13 | Long             | DBT              | CORP              | CA        |   1205000 | PA      | $1200896.37   | 0.34%             | 2027-10-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                         | Freddie Mac Pool                                         | CUSIP: 3132AEAS5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   6284111 | PA      | $6107846.80   | 1.73%             | 2048-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES              | PNC Financial Services Group Inc/The                     | CUSIP: 693475BM6<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   2386000 | PA      | $2397874.24   | 0.68%             | 2034-01-24      | Fixed         | 5.07%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                  | Ally Financial Inc                                       | CUSIP: 02005NBW9<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   1443000 | PA      | $1463276.24   | 0.41%             | 2031-01-17      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| HYATT HOTELS CORP                   | Hyatt Hotels Corp                                        | CUSIP: 448579AV4<br>LEI: T27JQIMTYSH41TCD5186 | Long             | DBT              | CORP              | US        |   1425000 | PA      | $1462928.80   | 0.41%             | 2032-03-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| TRAVEL + LEISURE CO                 | Travel + Leisure Co                                      | CUSIP: 98310WAN8<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |    475000 | PA      | $479216.30    | 0.14%             | 2027-04-01      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HLTH FACS FING A      | California Health Facilities Financing Authority         | CUSIP: 13032UD88<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   3395000 | PA      | $3177786.88   | 0.90%             | 2037-06-01      | Fixed         | 4.19%                 | No            |                  2 | On Loan: No      |
| AIR PRODUCTS & CHEMICALS            | Air Products and Chemicals Inc                           | CUSIP: 009158AZ9<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | DBT              | CORP              | US        |   1900000 | PA      | $1382269.87   | 0.39%             | 2040-05-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| BWX TECHNOLOGIES INC                | BWX Technologies Inc                                     | CUSIP: 05605HAB6<br>LEI: 549300NP85N265KWMS58 | Long             | DBT              | CORP              | US        |   1210000 | PA      | $1180439.34   | 0.33%             | 2028-06-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                         | Freddie Mac Pool                                         | CUSIP: 3132AC3B4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1361463 | PA      | $1324743.63   | 0.37%             | 2048-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                       | State of California                                      | CUSIP: 13063A5G5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2030000 | PA      | $2432918.05   | 0.69%             | 2039-04-01      | Fixed         | 7.55%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust            | JP Morgan Mortgage Trust 2021-7                          | CUSIP: 46592NAN6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1720154 | PA      | $1603120.01   | 0.45%             | 2051-11-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| SK HYNIX INC                        | SK Hynix Inc                                             | CUSIP: 78392BAC1<br>LEI: 988400XAIK6XISWQV045 | Long             | DBT              | CORP              | KR        |   2800000 | PA      | $2475156.35   | 0.70%             | 2031-01-19      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN            | Graphic Packaging International LLC                      | CUSIP: 38869AAC1<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |   2600000 | PA      | $2452250.58   | 0.69%             | 2029-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MICROSOFT CORP                      | Microsoft Corp                                           | CUSIP: 594918CC6<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |   2450000 | PA      | $1514023.76   | 0.43%             | 2050-06-01      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| MAGNA INTERNATIONAL INC             | Magna International Inc                                  | CUSIP: 559222BD5<br>LEI: 95RWVLFZX6VGDZNNTN43 | Long             | DBT              | CORP              | CA        |   1752000 | PA      | $1798067.98   | 0.51%             | 2035-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: —       |
| PORT AUTH OF NEW YORK & NEW JE      | Port Authority of New York & New Jersey                  | CUSIP: 73358WAJ3<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    550000 | PA      | $589800.09    | 0.17%             | 2029-12-01      | Fixed         | 6.04%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO            | Capital One Financial Corp                               | CUSIP: 254709AT5<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   1950000 | PA      | $2266657.59   | 0.64%             | 2034-11-02      | Fixed         | 7.96%                 | No            |                  2 | On Loan: No      |
| UNITED PARCEL SERVICE               | United Parcel Service Inc                                | CUSIP: 911312AJ5<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1637245.85   | 0.46%             | 2038-01-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| JOBSOHIO BEVERAGE SYS STWD LIQ      | JobsOhio Beverage System                                 | CUSIP: 47770VBQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3700000 | PA      | $3045123.68   | 0.86%             | 2038-01-01      | Fixed         | 2.83%                 | No            |                  2 | On Loan: No      |
| TD SECURITIES (USA) LLC             | TD SECURITIES (USA) LLC                                  | CUSIP: 000000000<br>LEI: SUVUFHICNZMP2WKHG940 | Long             | RA               | CORP              | US        |    861989 | PA      | $861989.00    | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| ANHEUSER-BUSCH INBEV WOR            | Anheuser-Busch InBev Worldwide Inc                       | CUSIP: 035240AM2<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |   1900000 | PA      | $1772831.40   | 0.50%             | 2038-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| AIRCASTLE / IRELAND DAC             | Aircastle Ltd / Aircastle Ireland DAC                    | CUSIP: 00929JAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1975000 | PA      | $2029290.95   | 0.57%             | 2031-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                       | Citigroup Inc                                            | CUSIP: 172967KM2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    825000 | PA      | $833061.08    | 0.24%             | N/A             | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| US TREASURY N/B                     | United States Treasury Note/Bond                         | CUSIP: 912810SY5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15359000 | PA      | $11154473.75  | 3.16%             | 2041-05-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| EXELON CORP                         | Exelon Corp                                              | CUSIP: 30161NBQ3<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |   2315000 | PA      | $2354738.66   | 0.67%             | 2055-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| DALLAS-FORT WORTH TX INTERNATI      | Dallas Fort Worth International Airport                  | CUSIP: 23503CAN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $862347.90    | 0.24%             | 2051-11-01      | Fixed         | 4.51%                 | No            |                  2 | On Loan: No      |
| MATTEL INC                          | Mattel Inc                                               | CUSIP: 577081AU6<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |    911000 | PA      | $917014.42    | 0.26%             | 2040-10-01      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH LE      | New Jersey Economic Development Authority                | CUSIP: 645913AA2<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   3300000 | PA      | $3485234.28   | 0.99%             | 2029-02-15      | Fixed         | 7.42%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities       | GS Mortgage-Backed Securities Trust 2021-PJ9             | CUSIP: 36263CAH2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1471105 | PA      | $1302608.55   | 0.37%             | 2052-02-26      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| YUM! BRANDS INC                     | Yum! Brands Inc                                          | CUSIP: 988498AN1<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |   1110000 | PA      | $1024526.34   | 0.29%             | 2031-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: —       |
| Fannie Mae - CAS                    | Connecticut Avenue Securities Trust 2024-R02             | CUSIP: 20754GAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    897559 | PA      | $897272.84    | 0.25%             | 2044-02-25      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| COHERENT CORP                       | Coherent Corp                                            | CUSIP: 902104AC2<br>LEI: 549300O5C25A0MMHHU33 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1964264.20   | 0.56%             | 2029-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| OI EUROPEAN GROUP BV                | OI European Group BV                                     | CUSIP: 67777LAD5<br>LEI: 72450053F5WRDY8CDZ66 | Long             | DBT              | CORP              | NL        |   1500000 | PA      | $1442916.11   | 0.41%             | 2030-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| COMMONSPIRIT HEALTH                 | CommonSpirit Health                                      | CUSIP: 20268JAB9<br>LEI: 4SXHN5XW08IBO0UG2V58 | Long             | DBT              | CORP              | US        |    600000 | PA      | $573726.71    | 0.16%             | 2029-10-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| DPL INC                             | DPL Inc                                                  | CUSIP: 233293AQ2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $967685.80    | 0.27%             | 2029-04-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                          | Fannie Mae Pool                                          | CUSIP: 3140X8V79<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2268558 | PA      | $2265099.61   | 0.64%             | 2050-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                | Bank of America Corp                                     | CUSIP: 06051GLU1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   3050000 | PA      | $3218543.03   | 0.91%             | 2034-09-15      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| TWILIO INC                          | Twilio Inc                                               | CUSIP: 90138FAC6<br>LEI: 5493004W8TRGD63APX93 | Long             | DBT              | CORP              | US        |    600000 | PA      | $571226.07    | 0.16%             | 2029-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| MICRON TECHNOLOGY INC               | Micron Technology Inc                                    | CUSIP: 595112BZ5<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1459979.84   | 0.41%             | 2033-02-09      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                       | Citigroup Inc                                            | CUSIP: 172967PE5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1278000 | PA      | $1344956.98   | 0.38%             | N/A             | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                    | Connecticut Avenue Securities Trust 2024-R01             | CUSIP: 20753UAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1150187 | PA      | $1149474.27   | 0.33%             | 2044-01-25      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES INC                 | Delta Air Lines Inc                                      | CUSIP: 247361A32<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1761233.25   | 0.50%             | 2030-07-10      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BATH & BODY WORKS INC               | Bath & Body Works Inc                                    | CUSIP: 501797AL8<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |    940000 | PA      | $974904.08    | 0.28%             | 2035-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| John Deere Owner Trust              | John Deere Owner Trust 2022                              | CUSIP: 47787JAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2206000 | PA      | $2195950.35   | 0.62%             | 2029-01-16      | Fixed         | 2.49%                 | No            |                  2 | On Loan: No      |
| MARRIOTT OWNERSHIP RESOR            | Marriott Ownership Resorts Inc                           | CUSIP: 57164PAF3<br>LEI: BW4532OH033VURR0IT68 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1564729.44   | 0.44%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| Freddie Mac                         | Freddie Mac Pool                                         | CUSIP: 3133L8C37<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   6227646 | PA      | $5705499.85   | 1.61%             | 2036-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                          | Fannie Mae Pool                                          | CUSIP: 3140QQU60<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1850296 | PA      | $1773351.46   | 0.50%             | 2052-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP              | Bank of New York Mellon Corp/The                         | CUSIP: 064058AJ9<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1981158.30   | 0.56%             | N/A             | Fixed         | 3.70%                 | No            |                  2 | On Loan: —       |
| BALL CORP                           | Ball Corp                                                | CUSIP: 058498AW6<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |   3625000 | PA      | $3267882.40   | 0.92%             | 2030-08-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                     | United States Treasury Note/Bond                         | CUSIP: 912810TQ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4324000 | PA      | $3870655.63   | 1.09%             | 2043-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| DATA 2023-CNTR Mortgage Trust       | DATA 2023-CNTR Mortgage Trust                            | CUSIP: 238021AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1900000 | PA      | $1921508.57   | 0.54%             | 2043-08-12      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corpora      | Chase Home Lending Mortgage Trust Series 2024-1          | CUSIP: 16160DAK9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    990398 | PA      | $999984.30    | 0.28%             | 2055-01-25      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                          | Fannie Mae Pool                                          | CUSIP: 3140XAFJ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5981584 | PA      | $5652015.85   | 1.60%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ELANCO ANIMAL HEALTH INC            | Elanco Animal Health Inc                                 | CUSIP: 28414HAG8<br>LEI: 549300SHPNDCE059M934 | Long             | DBT              | CORP              | US        |    950000 | PA      | $988207.10    | 0.28%             | 2028-08-28      | Variable      | 6.65%                 | No            |                  2 | On Loan: No      |
| SALLY HOLDINGS/SALLY CAP            | Sally Holdings LLC / Sally Capital Inc                   | CUSIP: 79546VAQ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1303000 | PA      | $1337670.22   | 0.38%             | 2032-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| DELL INT LLC / EMC CORP             | Dell International LLC / EMC Corp                        | CUSIP: 24703TAJ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    972000 | PA      | $1171539.86   | 0.33%             | 2036-07-15      | Fixed         | 8.10%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                | Cleveland-Cliffs Inc                                     | CUSIP: 185899AP6<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1885322.60   | 0.53%             | 2032-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: —       |
| US TREASURY N/B                     | United States Treasury Note/Bond                         | CUSIP: 912810SU3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9097000 | PA      | $5109955.47   | 1.45%             | 2051-02-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL                    | MGM Resorts International                                | CUSIP: 552953CK5<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1017145.79   | 0.29%             | 2029-09-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: —       |
| COMCAST CORP                        | Comcast Corp                                             | CUSIP: 20030NEC1<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    867000 | PA      | $861610.93    | 0.24%             | 2033-02-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: —       |
| DOMINION ENERGY INC                 | Dominion Energy Inc                                      | CUSIP: 25746UDU0<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   2189000 | PA      | $2348648.15   | 0.66%             | 2054-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                          | Fannie Mae Pool                                          | CUSIP: 3140X6XD8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   7235441 | PA      | $7099441.99   | 2.01%             | 2035-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| TWILIO INC                          | Twilio Inc                                               | CUSIP: 90138FAD4<br>LEI: 5493004W8TRGD63APX93 | Long             | DBT              | CORP              | US        |   2194000 | PA      | $2051984.57   | 0.58%             | 2031-03-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: —       |
| TENET HEALTHCARE CORP               | Tenet Healthcare Corp                                    | CUSIP: 88033GDH0<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   1735000 | PA      | $1713245.36   | 0.48%             | 2028-06-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| US BANCORP                          | US Bancorp                                               | CUSIP: 91159HJM3<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1453773.17   | 0.41%             | 2029-06-12      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| KEYCORP                             | KeyCorp                                                  | CUSIP: 49326EEG4<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |   1095000 | PA      | $1088097.10   | 0.31%             | 2028-04-30      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                 | JPMorgan Chase & Co                                      | CUSIP: 46647PCD6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2710000 | PA      | $2043441.06   | 0.58%             | 2042-04-22      | Fixed         | 3.16%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST             | Starwood Property Trust Inc                              | CUSIP: 85571BAY1<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |   1775000 | PA      | $1758361.68   | 0.50%             | 2027-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| TRAVEL + LEISURE CO                 | Travel + Leisure Co                                      | CUSIP: 98310WAQ1<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |    575000 | PA      | $551280.10    | 0.16%             | 2030-03-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| MUELLER WATER PRODUCTS              | Mueller Water Products Inc                               | CUSIP: 624758AF5<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | DBT              | CORP              | US        |   2650000 | PA      | $2544102.29   | 0.72%             | 2029-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                          | Fannie Mae Pool                                          | CUSIP: 3140XFQ20<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1987992 | PA      | $1982450.69   | 0.56%             | 2048-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SONOCO PRODUCTS CO                  | Sonoco Products Co                                       | CUSIP: 835495AP7<br>LEI: GKOMIK4RDJGHEF0VNP11 | Long             | DBT              | CORP              | US        |   1822000 | PA      | $1600345.72   | 0.45%             | 2032-02-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: —       |
| DUKE ENERGY CORP                    | Duke Energy Corp                                         | CUSIP: 26441CBL8<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |   1995000 | PA      | $1777619.37   | 0.50%             | 2031-06-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: —       |
| PRIME SECSRVC BRW/FINANC            | Prime Security Services Borrower LLC / Prime Finance Inc | CUSIP: 74166MAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    882000 | PA      | $886574.05    | 0.25%             | 2026-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ENCOMPASS HEALTH CORP               | Encompass Health Corp                                    | CUSIP: 29261AAB6<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $1036672.68   | 0.29%             | 2030-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| BETHESDA SECURITIES, LLC            | BETHESDA SECURITIES LLC                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | RA               | CORP              | US        |   5447622 | PA      | $5447622.00   | 1.54%             |  |  |  | No            |                  2 | On Loan: No      |
| TELEFLEX INC                        | Teleflex Inc                                             | CUSIP: 879369AG1<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | DBT              | CORP              | US        |   2045000 | PA      | $1997948.23   | 0.57%             | 2028-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                 | Charles Schwab Corp/The                                  | CUSIP: 808513CB9<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   1773000 | PA      | $1766751.77   | 0.50%             | N/A             | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP                      | Air Lease Corp                                           | CUSIP: 00914AAX0<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    825000 | PA      | $842904.78    | 0.24%             | 2031-07-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| AIR CANADA 2020-1C PTT              | Air Canada 2020-1 Class C Pass Through Trust             | CUSIP: 008911BD0<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $1051370.00   | 0.30%             | 2026-07-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities       | GS Mortgage-Backed Securities Corp Trust 2021-PJ4        | CUSIP: 36264PAF6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2511552 | PA      | $2338481.58   | 0.66%             | 2051-09-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                    | Duke Energy Corp                                         | CUSIP: 26441CCG8<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |   2290000 | PA      | $2353690.56   | 0.67%             | 2054-09-01      | Fixed         | 6.45%                 | No            |                  2 | On Loan: —       |
| SLM CORP                            | SLM Corp                                                 | CUSIP: 78442PGF7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1469489.00   | 0.42%             | 2030-01-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| CENTENE CORP                        | Centene Corp                                             | CUSIP: 15135BAV3<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   2670000 | PA      | $2459159.45   | 0.70%             | 2030-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP               | Truist Financial Corp                                    | CUSIP: 89788MAP7<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   2213000 | PA      | $2311898.99   | 0.65%             | 2034-06-08      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust        | Ford Credit Auto Owner Trust 2022-B                      | CUSIP: 34534LAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1603000 | PA      | $1598116.78   | 0.45%             | 2027-08-15      | Fixed         | 3.93%                 | No            |                  2 | On Loan: No      |
| FORD FOUNDATION/THE                 | Ford Foundation/The                                      | CUSIP: 34531XAB0<br>LEI: 54930013YZ3DULPNNT44 | Long             | DBT              | CORP              | US        |   2690000 | PA      | $1565888.52   | 0.44%             | 2050-06-01      | Fixed         | 2.42%                 | No            |                  2 | On Loan: No      |
| FIXED INCOME CLEARING CORPORATION   | FIXED INCOME CLEARING CORPORATION                        | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        |   2846000 | PA      | $2846000.00   | 0.81%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-28

**Name of Applicant:** AMG Funds III

**Signature:** Thomas Disbrow

**Name of Signer:** Thomas Disbrow

**Title:** Principal Financial Officer