# EDGAR Filing Document

**Accession Number:** 0000924727
**File Stem:** 0001193125-26-082801
**Filing Date:** 2026-2
**Character Count:** 56854
**Document Hash:** 4eea1d50ead5de9bbc30e8c30faaf1da
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-082801.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0001193125-26-082801

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Investment Managers Series Trust III
- **CENTRAL INDEX KEY:** 0000924727

**ORGANIZATION NAME:**
- **EIN:** 043236699
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08544
- **FILM NUMBER:** 26700505

**BUSINESS ADDRESS:**
- **STREET 1:** 235 W. GALENA STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212
- **BUSINESS PHONE:** 626-385-5777

**MAIL ADDRESS:**
- **STREET 1:** 235 W. GALENA STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FPA FUNDS TRUST
- **DATE OF NAME CHANGE:** 20021028

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** UAM FUNDS TRUST
- **DATE OF NAME CHANGE:** 19951101

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** REGIS FUND II
- **DATE OF NAME CHANGE:** 19940606

## Series and Classes Contracts Data

### FPA Crescent Fund (Series ID: S000009495)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000025975 | Institutional Class       | FPACX           |
| C000221940 | Supra Institutional Class | FPCSX           |
| C000249813 | Investor Class            | FPFRX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Investment Managers Series Trust III

- **b. Investment Company Act file number:** 811-08544

- **c. CIK number of Registrant:** 0000924727

- **d. LEI of Registrant:** 549300H7BXP5EUEHOJ64

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

  - **Street Address 1:** 235 W. Galena Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53212

  - **Telephone number:** 626-385-5777

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

- **a. Name of Series:** FPA Crescent Fund

- **b. EDGAR series identifier (if any):** S000009495

- **c. LEI of Series:** 549300FMOJ71ODO86B07

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

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

- **b. Date as of which information is reported:** 2025-12-31

**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:** $11948290970.29

**Total Liabilities:** $74294357.76

**Net Assets:** $11873996612.53

**Cash Not Reported:** $19926898.61

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 13061.720897560000 | **1-Year:** 0.000000000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

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

- **3-Month:** 369.755332031278 | **1-Year:** 855.839622813703 | **5-Year:** 2256.174222274379 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000025975 | 0.64%                | 0.96%                | 1.45%                |
| Class ID C000221940 | 0.66%                | 0.96%                | 1.44%                |
| Class ID C000249813 | 0.62%                | 0.96%                | 1.43%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-37239921.96            | $104790544.92                              |
| Month 2  | $337178470.50            | $-229145376.81                             |
| Month 3  | $6802554.47              | $142775847.10                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| LG Corp                                        | LG Corp.                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |   1442197 | NS      | $80802711.81  | 0.68%             |  |  |  | No            | 2                  | On Loan: No      |
| ALTABA, Inc. ESCROW SHS ORD REG   /            | ALTABA, Inc. ESCROW SHS ORD REG   /            | CUSIP: 021ESC017<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   4756180 | NS      | $5469607.00   | 0.05%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Samsung C&T Corp                               | Samsung C&T Corp.                              | CUSIP: 999999999<br>LEI: 988400GFRE4IDFPE9E64 | Long             | EC               | CORP              | KR        |    675846 | NS      | $112253444.62 | 0.95%             |  |  |  | No            | 2                  | On Loan: No      |
| CHEVRON Corp. DCP  06/02/2026   /              | CHEVRON Corp. DCP  06/02/2026   /              | CUSIP: 16677KF24<br>LEI: N/A                  | Long             | ABS-APCP         | CORP              | US        |  70350000 | PA      | $69259887.80  | 0.58%             | 2026-06-02      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| CISCO SYSTEMS, Inc. DCP 03/20/2026   /         | CISCO SYSTEMS, Inc. DCP 03/20/2026   /         | CUSIP: 17277BCL7<br>LEI: N/A                  | Long             | ABS-APCP         | CORP              | US        | 150000000 | PA      | $148745500.41 | 1.25%             | 2026-03-20      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| Swire Pacific Ltd                              | Swire Pacific Ltd. - A Shares                  | CUSIP: Y83310105<br>LEI: 549300KZOZHII0DGF611 | Long             | EC               | CORP              | HK        |   2098628 | NS      | $16917783.28  | 0.14%             |  |  |  | No            | 2                  | On Loan: No      |
| EXXON MOBIL Corp. DCP, 01/21/2026   /          | EXXON MOBIL Corp. DCP, 01/21/2026   /          | CUSIP: 30229BAM9<br>LEI: N/A                  | Long             | ABS-APCP         | CORP              | US        | 108000000 | PA      | $107771999.94 | 0.91%             | 2026-01-21      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| EXXON MOBIL Corp. DCP, 01/23/2026   /          | EXXON MOBIL Corp. DCP, 01/23/2026   /          | CUSIP: 30229BAP2<br>LEI: N/A                  | Long             | ABS-APCP         | CORP              | US        | 123000000 | PA      | $122720380.00 | 1.03%             | 2026-01-23      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| EXXON MOBIL Corp. DCP  02/02/2026   /          | EXXON MOBIL Corp. DCP  02/02/2026   /          | CUSIP: 30229BB22<br>LEI: N/A                  | Long             | ABS-APCP         | CORP              | US        |  79000000 | PA      | $78740515.60  | 0.66%             | 2026-02-02      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| EXXON MOBIL Corp. DCP, 02/04/2026   /          | EXXON MOBIL Corp. DCP, 02/04/2026   /          | CUSIP: 30229BB48<br>LEI: N/A                  | Long             | ABS-APCP         | CORP              | US        | 100000000 | PA      | $99637333.49  | 0.84%             | 2026-02-04      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| NCR Voyix Corp                                 | NCR Voyix Corp.                                | CUSIP: 62886E108<br>LEI: 549300YKTY8JX1DV2R67 | Long             | EC               | CORP              | US        |   3636184 | NS      | $37089076.80  | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Westinghouse Air Brake Technol                 | Westinghouse Air Brake Technologies Corp.      | CUSIP: 929740108<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | EC               | CORP              | US        |    281311 | NS      | $60045832.95  | 0.51%             |  |  |  | No            | 1                  | On Loan: No      |
| Wells Fargo & Co                               | Wells Fargo & Co.                              | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |    703204 | NS      | $65538612.80  | 0.55%             |  |  |  | No            | 1                  | On Loan: No      |
| Douglas Emmett Inc                             | Douglas Emmett, Inc. - REIT                    | CUSIP: 25960P109<br>LEI: N/A                  | Long             |  | CORP              | US        |   5119454 | NS      | $56262799.46  | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Dell Technologies Inc                          | Dell Technologies, Inc. - Class C              | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               | CORP              | US        |    382985 | NS      | $48210151.80  | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| ELECTRIQ POWER HOLDINGS INC                    | Electriq Power Holdings, Inc.                  | CUSIP: 285046116<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |    414327 | NC      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Eurofins Scientific SE                         | Eurofins Scientific S.E.                       | CUSIP: 999999999<br>LEI: 529900JEHFM47DYY3S57 | Long             | EC               | CORP              | LU        |   1637209 | NS      | $119729253.87 | 1.01%             |  |  |  | No            | 2                  | On Loan: No      |
| EUR SPOT FORWARD CONTRACT   /                  | EUR SPOT FORWARD CONTRACT   /                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | STIV             |  | XX        |   3714992 | OU      | $4365956.53   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Orion Corp/Republic of Korea                   | Orion Corp./Republic of Korea                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |    651117 | NS      | $47710798.66  | 0.40%             |  |  |  | No            | 2                  | On Loan: No      |
| Fortune Brands Innovations Inc                 | Fortune Brands Innovations, Inc.               | CUSIP: 34964C106<br>LEI: 54930032LHW54PQUJD44 | Long             | EC               | CORP              | US        |   2196279 | NS      | $109857875.58 | 0.93%             |  |  |  | No            | 1                  | On Loan: No      |
| Ferguson Enterprises Inc                       | Ferguson Enterprises, Inc.                     | CUSIP: G3421J106<br>LEI: 2138003JYQMRP3SLX189 | Long             | EC               | CORP              | US        |    576928 | NS      | $128441480.64 | 1.08%             |  |  |  | No            | 1                  | On Loan: No      |
| EXXON MOBIL Corp. DCP, 02/05/2026   /          | EXXON MOBIL Corp. DCP, 02/05/2026   /          | CUSIP: 30229BB55<br>LEI: N/A                  | Long             | ABS-APCP         | CORP              | US        | 131000000 | PA      | $130522395.83 | 1.10%             | 2026-02-05      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| ECHOSTAR CORP                                  | EchoStar Corp.                                 | CUSIP: 278768AB2<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |  33209948 | PA      | $110921226.32 | 0.93%             | 2030-11-30      | Fixed         | 3.88%                 | No            | 2                  | On Loan: No      |
| EXXON MOBIL Corp. DCP, 01/05/2026   /          | EXXON MOBIL Corp. DCP, 01/05/2026   /          | CUSIP: 30229BA56<br>LEI: N/A                  | Long             | ABS-APCP         | CORP              | US        |  85000000 | PA      | $84965716.61  | 0.72%             | 2026-01-05      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| Glencore PLC                                   | Glencore PLC                                   | CUSIP: 999999999<br>LEI: 2138002658CPO9NBH955 | Long             | EC               | CORP              | CH        |  26947501 | NS      | $147305014.56 | 1.24%             |  |  |  | No            | 2                  | On Loan: No      |
| Grupo Mexico SAB de CV                         | Grupo Mexico S.A.B. de C.V.                    | CUSIP: 999999999<br>LEI: 529900JWLZAYET2ZGW20 | Long             | EC               | CORP              | MX        |   5233690 | NS      | $49417426.67  | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| EXXON MOBIL Corp. DCP, 02/06/2026   /          | EXXON MOBIL Corp. DCP, 02/06/2026   /          | CUSIP: 30229BB63<br>LEI: N/A                  | Long             | ABS-APCP         | CORP              | US        | 115000000 | PA      | $114558399.81 | 0.96%             | 2026-02-06      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| EXXON MOBIL Corp. DCP  02/13/2026   /          | EXXON MOBIL Corp. DCP  02/13/2026   /          | CUSIP: 30229BBD8<br>LEI: N/A                  | Long             | ABS-APCP         | CORP              | US        |  91000000 | PA      | $90605929.03  | 0.76%             | 2026-02-13      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| EXXON MOBIL Corp. DCP, 01/06/2026   /          | EXXON MOBIL Corp. DCP, 01/06/2026   /          | CUSIP: 30229BA64<br>LEI: N/A                  | Long             | ABS-APCP         | CORP              | US        | 160000000 | PA      | $159919555.52 | 1.35%             | 2026-01-06      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| Magnum Ice Cream Co NV/The                     | Magnum Ice Cream Co. N.V.                      | CUSIP: 999999999<br>LEI: 25490052LLF3XH6G9847 | Long             | EC               | CORP              | NL        |    365104 | NS      | $5794715.73   | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Rohto Pharmaceutical Co Ltd                    | Rohto Pharmaceutical Co., Ltd.                 | CUSIP: 999999999<br>LEI: 353800Q1CW5OS81OUM12 | Long             | EC               | CORP              | JP        |   1007600 | NS      | $16890771.76  | 0.14%             |  |  |  | No            | 2                  | On Loan: No      |
| Nippon Paint Holdings Co Ltd                   | Nippon Paint Holdings Co., Ltd.                | CUSIP: 999999999<br>LEI: 529900RYRJUN78A7PL87 | Long             | EC               | CORP              | JP        |  12787300 | NS      | $85620377.85  | 0.72%             |  |  |  | No            | 2                  | On Loan: No      |
| Alphabet Inc                                   | Alphabet, Inc. - Class C                       | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    769465 | NS      | $241458117.00 | 2.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Alphabet Inc                                   | Alphabet, Inc. - Class A                       | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |   1390001 | NS      | $435070313.00 | 3.66%             |  |  |  | No            | 1                  | On Loan: No      |
| JOHNSON & JOHNSON Co. DCP, 01/05/2026   /      | JOHNSON & JOHNSON Co. DCP, 01/05/2026   /      | CUSIP: 47816GA58<br>LEI: N/A                  | Long             | ABS-APCP         | CORP              | US        |  35000000 | PA      | $34984950.00  | 0.29%             | 2026-01-05      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| JOHNSON & JOHNSON Co. DCP, 01/15/2026   /      | JOHNSON & JOHNSON Co. DCP, 01/15/2026   /      | CUSIP: 47816GAF6<br>LEI: N/A                  | Long             | ABS-APCP         | CORP              | US        | 139000000 | PA      | $138794048.39 | 1.17%             | 2026-01-15      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| JOHNSON & JOHNSON Co. DCP, 01/16/2026   /      | JOHNSON & JOHNSON Co. DCP, 01/16/2026   /      | CUSIP: 47816GAG4<br>LEI: N/A                  | Long             | ABS-APCP         | CORP              | US        |  51000000 | PA      | $50918187.54  | 0.43%             | 2026-01-16      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| JOHNSON & JOHNSON Co. DCP, 02/03/2026   /      | JOHNSON & JOHNSON Co. DCP, 02/03/2026   /      | CUSIP: 47816GB32<br>LEI: N/A                  | Long             | ABS-APCP         | CORP              | US        | 132000000 | PA      | $131540200.04 | 1.11%             | 2026-02-03      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| Gulfport Energy Corp                           | Gulfport Energy Corp.                          | CUSIP: 402635502<br>LEI: 254900DJRGZBUZ3F5038 | Long             | EC               | CORP              | US        |    111713 | NS      | $23235186.87  | 0.20%             |  |  |  | No            | 1                  | On Loan: No      |
| Heineken Holding NV                            | Heineken Holding N.V.                          | CUSIP: 999999999<br>LEI: 724500M1WJLFM9TYBS04 | Long             | EC               | CORP              | NL        |   3088974 | NS      | $226200821.29 | 1.91%             |  |  |  | No            | 2                  | On Loan: No      |
| Holcim AG                                      | Holcim A.G.                                    | CUSIP: 999999999<br>LEI: 529900EHPFPYHV6IQO98 | Long             | EC               | CORP              | CH        |    826751 | NS      | $80484486.44  | 0.68%             |  |  |  | No            | 2                  | On Loan: No      |
| ICON PLC                                       | ICON PLC                                       | CUSIP: G4705A100<br>LEI: 6354008SRQGEMC4XFI67 | Long             | EC               | CORP              | IE        |    580243 | NS      | $105731879.46 | 0.89%             |  |  |  | No            | 1                  | On Loan: No      |
| IFF                                            | International Flavors & Fragrances, Inc.       | CUSIP: 459506101<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | EC               | CORP              | US        |   3163067 | NS      | $213159085.13 | 1.80%             |  |  |  | No            | 1                  | On Loan: No      |
| IMCD NV                                        | IMCD N.V.                                      | CUSIP: 999999999<br>LEI: 724500NSJPNFJPDAUP02 | Long             | EC               | CORP              | NL        |    640089 | NS      | $58097348.22  | 0.49%             |  |  |  | No            | 2                  | On Loan: No      |
| Shiseido Co Ltd                                | Shiseido Co., Ltd.                             | CUSIP: 999999999<br>LEI: 5299008QCD0YDT5OF506 | Long             | EC               | CORP              | JP        |     83300 | NS      | $1212257.98   | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| MCDERMOTT INTERNATIO Ltd. QIB/AI CTRACUSIP   / | MCDERMOTT INTERNATIO Ltd. QIB/AI CTRACUSIP   / | CUSIP: 58004K307<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |      8431 | NS      | $126465.00    | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| JDE Peet's NV                                  | JDE Peet's N.V.                                | CUSIP: 999999999<br>LEI: 724500EHG519SE5ZRT89 | Long             | EC               | CORP              | NL        |   5885188 | NS      | $220098699.79 | 1.85%             |  |  |  | No            | 2                  | On Loan: No      |
| Jefferies Financial Group Inc                  | Jefferies Financial Group, Inc.                | CUSIP: 47233W109<br>LEI: 549300HOF34RGOJ5YL07 | Long             | EC               | CORP              | US        |   2277248 | NS      | $141121058.56 | 1.19%             |  |  |  | No            | 1                  | On Loan: No      |
| Marriott International Inc/MD                  | Marriott International, Inc. - Class A         | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |    244440 | NS      | $75835065.60  | 0.64%             |  |  |  | No            | 1                  | On Loan: No      |
| Mcdermott International Ltd                    | Mcdermott International Ltd.                   | CUSIP: G5924V148<br>LEI: 54930004RAXI4B3L4752 | Long             | EC               | CORP              | US        |   2512153 | NS      | $37682295.00  | 0.32%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Meta Platforms Inc                             | Meta Platforms, Inc. - Class A                 | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |    457981 | NS      | $302308678.29 | 2.55%             |  |  |  | No            | 1                  | On Loan: No      |
| Magnum Ice Cream Co NV/The                     | Magnum Ice Cream Co. N.V.                      | CUSIP: N5505D105<br>LEI: 25490052LLF3XH6G9847 | Long             | EC               | CORP              | NL        |   1049585 | NS      | $16635922.25  | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Liberty Broadband Corp                         | Liberty Broadband Corp. - Class C              | CUSIP: 530307305<br>LEI: 549300MIX43II8JLN536 | Long             | EC               | CORP              | US        |   1890532 | NS      | $91879855.20  | 0.77%             |  |  |  | No            | 1                  | On Loan: No      |
| LPL Financial Holdings Inc                     | LPL Financial Holdings, Inc.                   | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |    344126 | NS      | $122911483.42 | 1.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Merck KGaA                                     | Merck KGaA                                     | CUSIP: 999999999<br>LEI: 529900OAREIS0MOPTW25 | Long             | EC               | CORP              | DE        |    465134 | NS      | $66386904.75  | 0.56%             |  |  |  | No            | 2                  | On Loan: No      |
| Vail Resorts Inc                               | Vail Resorts, Inc.                             | CUSIP: 91879Q109<br>LEI: 529900PSZHRNU9HKH870 | Long             | EC               | CORP              | US        |    672835 | NS      | $89352488.00  | 0.75%             |  |  |  | No            | 1                  | On Loan: No      |
| Magnum Ice Cream Co NV/The                     | Magnum Ice Cream Co. N.V.                      | CUSIP: 999999999<br>LEI: 25490052LLF3XH6G9847 | Long             | EC               | CORP              | NL        |   3692119 | NS      | $59080846.52  | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| MSILF Treasury Portfolio                       | MSILF Treasury Portfolio - Class Institutional | CUSIP: 61747C582<br>LEI: 549300D1XR6GP7EZ0T47 | Long             | STIV             | RF                | US        |  38486235 | PA      | $38486234.69  | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| NCR Atleos Corp                                | NCR Atleos Corp.                               | CUSIP: 63001N106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1660761 | NS      | $63291601.71  | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| NOV Inc                                        | NOV, Inc.                                      | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Long             | EC               | CORP              | US        |   5037287 | NS      | $78732795.81  | 0.66%             |  |  |  | No            | 1                  | On Loan: No      |
| PERSHING SQUARE TONT SHS   /                   | PERSHING SQUARE TONT SHS   /                   | CUSIP: 715ESC018<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    457176 | NS      | $0.00         | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| MARIADB PLC                                    | MariaDB PLC                                    | CUSIP: G5920M118<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |    316054 | NC      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| NXP Semiconductors NV                          | NXP Semiconductors N.V.                        | CUSIP: N6596X109<br>LEI: 724500M9BY5293JDF951 | Long             | EC               | CORP              | NL        |    482460 | NS      | $104722767.60 | 0.88%             |  |  |  | No            | 1                  | On Loan: No      |
| PG&E Corp                                      | PG&E Corp.                                     | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |    720710 | NS      | $11581809.70  | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Prosus NV                                      | Prosus N.V.                                    | CUSIP: 999999999<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | EC               | CORP              | NL        |   2882508 | NS      | $178485816.79 | 1.50%             |  |  |  | No            | 2                  | On Loan: No      |
| LEALAND REFICAR TERM LOAN   /                  | LEALAND REFICAR TERM LOAN   /                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    602758 | PA      | $530426.86    | 0.00%             | 2027-06-30      | Variable      | 11.43%                | Yes           | 3                  | On Loan: No      |
| Pernod Ricard SA                               | Pernod Ricard S.A.                             | CUSIP: 999999999<br>LEI: 52990097YFPX9J0H5D87 | Long             | EC               | CORP              | FR        |    926151 | NS      | $79304713.39  | 0.67%             |  |  |  | No            | 2                  | On Loan: No      |
| ROSS ACQUISITION CORP II -A                    | Ross Acquisition Corp. II                      | CUSIP: G7641C114<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     77074 | NC      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Nintendo Co Ltd                                | Nintendo Co., Ltd.                             | CUSIP: 999999999<br>LEI: 353800FEEXU6I9M0ZF27 | Long             | EC               | CORP              | JP        |    455180 | NS      | $30731280.97  | 0.26%             |  |  |  | No            | 2                  | On Loan: No      |
| CHARLES SCHWAB CORP                            | Charles Schwab Corp.                           | CUSIP: 808513AR6<br>LEI: 549300VSGCJ7E698NM85 | Long             | EP               | CORP              | US        |   2588000 | PA      | $2532254.48   | 0.02%             | 2069-10-31      | Variable      | 5.00%                 | No            | 2                  | On Loan: No      |
| CHARLES SCHWAB CORP                            | Charles Schwab Corp.                           | CUSIP: 808513BK0<br>LEI: 549300VSGCJ7E698NM85 | Long             | EP               | CORP              | US        |  18976000 | PA      | $18811857.60  | 0.16%             | 2069-06-01      | Variable      | 4.00%                 | No            | 2                  | On Loan: No      |
| TOTAL FINA ELF CAP DCP,  02/09/2026   /        | TOTAL FINA ELF CAP DCP,  02/09/2026   /        | CUSIP: 89152FB95<br>LEI: N/A                  | Long             | ABS-APCP         | CORP              | FR        |  10000000 | PA      | $9956666.66   | 0.08%             | 2026-02-09      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| TREASURY BILL                                  | United States Treasury Bill                    | CUSIP: 912797PM3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 129000000 | PA      | $128339824.22 | 1.08%             | 2026-02-19      | Fixed         | 0.00%                 | No            | 2                  | On Loan: No      |
| TREASURY BILL                                  | United States Treasury Bill                    | CUSIP: 912797PV3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  76000000 | PA      | $75436847.60  | 0.64%             | 2026-03-19      | Fixed         | 0.00%                 | No            | 2                  | On Loan: No      |
| TREASURY BILL                                  | United States Treasury Bill                    | CUSIP: 912797RH2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  32000000 | PA      | $31976639.28  | 0.27%             | 2026-01-08      | Fixed         | 0.00%                 | No            | 2                  | On Loan: No      |
| TREASURY BILL                                  | United States Treasury Bill                    | CUSIP: 912797RK5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  89000000 | PA      | $88739717.44  | 0.75%             | 2026-01-29      | Fixed         | 0.00%                 | No            | 2                  | On Loan: No      |
| Safran SA                                      | Safran S.A.                                    | CUSIP: 999999999<br>LEI: 969500UIC89GT3UL7L24 | Long             | EC               | CORP              | FR        |    544912 | NS      | $189806381.14 | 1.60%             |  |  |  | No            | 2                  | On Loan: No      |
| EchoStar Corp                                  | EchoStar Corp. - Class A                       | CUSIP: 278768106<br>LEI: 549300EE20907QZ9GT38 | Long             | EC               | CORP              | US        |    170053 | NS      | $18484761.10  | 0.16%             |  |  |  | No            | 1                  | On Loan: No      |
| TREASURY BILL                                  | United States Treasury Bill                    | CUSIP: 912797RL3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 131000000 | PA      | $130529639.47 | 1.10%             | 2026-02-05      | Fixed         | 0.00%                 | No            | 2                  | On Loan: No      |
| TREASURY BILL                                  | United States Treasury Bill                    | CUSIP: 912797RT6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 100000000 | PA      | $99564250.00  | 0.84%             | 2026-02-12      | Fixed         | 0.00%                 | No            | 2                  | On Loan: No      |
| TREASURY BILL                                  | United States Treasury Bill                    | CUSIP: 912797RU3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 112000000 | PA      | $111355377.78 | 0.94%             | 2026-02-26      | Fixed         | 0.00%                 | No            | 2                  | On Loan: No      |
| TREASURY BILL                                  | United States Treasury Bill                    | CUSIP: 912797RV1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 100000000 | PA      | $99392070.00  | 0.84%             | 2026-03-05      | Fixed         | 0.00%                 | No            | 2                  | On Loan: No      |
| Sodexo SA                                      | Sodexo S.A.                                    | CUSIP: 999999999<br>LEI: 969500LCBOG12HXPYM84 | Long             | EC               | CORP              | FR        |    562744 | NS      | $28833404.73  | 0.24%             |  |  |  | No            | 2                  | On Loan: No      |
| TE Connectivity PLC                            | TE Connectivity PLC                            | CUSIP: H84989104<br>LEI: 894500ZRIX9K13RHXR17 | Long             | EC               | CORP              | IE        |   1148440 | NS      | $261281584.40 | 2.20%             |  |  |  | No            | 1                  | On Loan: No      |
| TREASURY BILL                                  | United States Treasury Bill                    | CUSIP: 912797SB4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 101000000 | PA      | $100318532.80 | 0.84%             | 2026-03-12      | Fixed         | 0.00%                 | No            | 2                  | On Loan: No      |
| TREASURY BILL                                  | United States Treasury Bill                    | CUSIP: 912797SE8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  61000000 | PA      | $60967699.65  | 0.51%             | 2026-01-06      | Fixed         | 0.00%                 | No            | 2                  | On Loan: No      |
| Thermo Fisher Scientific Inc                   | Thermo Fisher Scientific, Inc.                 | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |    134470 | NS      | $77918641.50  | 0.66%             |  |  |  | No            | 1                  | On Loan: No      |
| Uber Technologies Inc                          | Uber Technologies, Inc.                        | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |    602717 | NS      | $49248006.07  | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| Vornado Realty Trust                           | Vornado Realty Trust - REIT                    | CUSIP: 929042109<br>LEI: N/A                  | Long             |  | CORP              | US        |   1448615 | NS      | $48209907.20  | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard S&P 500 Growth ETF                    | Vanguard S&P 500 Growth ETF                    | CUSIP: 921932505<br>LEI: N/A                  | Short            |  | RF                | US        |    -28642 | NS      | $-12733946.78 | -0.11%            |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard Growth ETF                            | Vanguard Growth ETF                            | CUSIP: 922908736<br>LEI: N/A                  | Short            |  | RF                | US        |    -12968 | NS      | $-6326568.48  | -0.05%            |  |  |  | No            | 1                  | On Loan: No      |
| TREASURY BILL                                  | United States Treasury Bill                    | CUSIP: 912797SF5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  51000000 | PA      | $50935772.30  | 0.43%             | 2026-01-13      | Fixed         | 0.00%                 | No            | 2                  | On Loan: No      |
| TREASURY BILL                                  | United States Treasury Bill                    | CUSIP: 912797SG3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  86000000 | PA      | $85826727.92  | 0.72%             | 2026-01-20      | Fixed         | 0.00%                 | No            | 2                  | On Loan: No      |
| TREASURY BILL                                  | United States Treasury Bill                    | CUSIP: 912797SH1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  74000000 | PA      | $73799152.60  | 0.62%             | 2026-01-27      | Fixed         | 0.00%                 | No            | 2                  | On Loan: No      |
| TREASURY BILL                                  | United States Treasury Bill                    | CUSIP: 912797SQ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  93000000 | PA      | $92612582.67  | 0.78%             | 2026-02-10      | Fixed         | 0.00%                 | No            | 2                  | On Loan: No      |
| TREASURY BILL                                  | United States Treasury Bill                    | CUSIP: 912797SZ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  78000000 | PA      | $77443485.60  | 0.65%             | 2026-03-17      | Fixed         | 0.00%                 | No            | 2                  | On Loan: No      |
| VORNADO REALTY LP                              | Vornado Realty LP                              | CUSIP: 929043AK3<br>LEI: 549300BMOJ05INE4YK86 | Long             | DBT              | CORP              | US        |   8623000 | PA      | $8515988.57   | 0.07%             | 2026-06-01      | Fixed         | 2.15%                 | No            | 2                  | On Loan: No      |
| WALMART STORES, Inc. DCP 01/21/2026   /        | WALMART STORES, Inc. DCP 01/21/2026   /        | CUSIP: 93114FAM6<br>LEI: N/A                  | Long             | ABS-APCP         | CORP              | US        |  72000000 | PA      | $71854399.85  | 0.61%             | 2026-01-21      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| WALMART STORES, Inc. DCP 01/22/2026   /        | WALMART STORES, Inc. DCP 01/22/2026   /        | CUSIP: 93114FAN4<br>LEI: N/A                  | Long             | ABS-APCP         | CORP              | US        | 100000000 | PA      | $99787666.60  | 0.84%             | 2026-01-22      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| LEALAND FINANCE Co. B.V. LETTER OF CREDIT   /  | LEALAND FINANCE Co. B.V. LETTER OF CREDIT   /  | CUSIP: 935IQZII8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  26500921 | PA      | $19875690.77  | 0.17%             | 2027-06-30      | Variable      | 7.92%                 | Yes           | 3                  | On Loan: No      |
| LEALAND FINANCE Co. B.V. SENIOR EXIT LC   /    | LEALAND FINANCE Co. B.V. SENIOR EXIT LC   /    | CUSIP: 589477088<br>LEI: N/A                  | Short            | LON              | CORP              | US        | -21844968 | PA      | $-5461241.93  | -0.05%            | 2027-06-30      | Fixed         | 0.00%                 | Yes           | 3                  | On Loan: No      |
| FOOTPATH VENTURES SPV IV LP   /                | FOOTPATH VENTURES SPV IV LP   /                | CUSIP: 943GGE008<br>LEI: N/A                  | Long             |  | PF                | US        |    150000 | OU      | $23758343.54  | 0.20%             |  |  |  | Yes           | 3                  | On Loan: No      |
| WAYFAIR INC                                    | Wayfair, Inc.                                  | CUSIP: 94419LAF8<br>LEI: 54930027N9ZAVYFDHK53 | Long             | DBT              | CORP              | US        |   4278000 | PA      | $4258749.00   | 0.04%             | 2026-08-15      | Fixed         | 1.00%                 | No            | 2                  | On Loan: No      |
| FPS LLC    /                                   | FPS LLC    /                                   | CUSIP: 963HYB908<br>LEI: N/A                  | Long             |  | PF                | US        |   2073734 | OU      | $154474796.19 | 1.30%             |  |  |  | Yes           | 3                  | On Loan: No      |
| FPS SHELBY HOLDCO I LLC   /                    | FPS SHELBY HOLDCO I LLC   /                    | CUSIP: 966GBDII9<br>LEI: N/A                  | Long             |  | PF                | US        |    107799 | OU      | $10276468.44  | 0.09%             |  |  |  | Yes           | 3                  | On Loan: No      |
| EPIC GAMES, INC. PRIVATE COMMON STOCK   /      | EPIC GAMES, INC. PRIVATE COMMON STOCK   /      | CUSIP: 966TDKII3<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33130 | NS      | $12981990.50  | 0.11%             |  |  |  | Yes           | 3                  | On Loan: No      |
| BFFY829   TRS USD GREEN THUMB (GTBIF)   /      | BFFY829   TRS USD GREEN THUMB (GTBIF)   /      | CUSIP: 99S1TLT69<br>LEI: N/A                  | N/A              | DE               |  | US        |   2078319 | NC      | $-745285.20   | 0.14%             |  |  |  | Yes           | 2                  | On Loan: No      |
| U.S. FARMING REALTY TRUST II COM STOCK   /     | U.S. FARMING REALTY TRUST II COM STOCK   /     | CUSIP: ACI026HK7<br>LEI: N/A                  | Long             |  | PF                | US        |    120000 | OU      | $479298.60    | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| SOUND HOLDING FP LUXEMBORG PRIVATE EQ   /      | SOUND HOLDING FP LUXEMBORG PRIVATE EQ   /      | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | LU        |   1146250 | NS      | $0.00         | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Analog Devices Inc                             | Analog Devices, Inc.                           | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |   1260676 | NS      | $341895331.20 | 2.88%             |  |  |  | No            | 1                  | On Loan: No      |
| Amrize Ltd                                     | Amrize Ltd.                                    | CUSIP: H2927K103<br>LEI: 529900SLCCO6K43P8146 | Long             | EC               | CORP              | CH        |   2429341 | NS      | $131378761.28 | 1.11%             |  |  |  | No            | 1                  | On Loan: No      |
| Amazon.com Inc                                 | Amazon.com, Inc.                               | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |    875695 | NS      | $202127919.90 | 1.70%             |  |  |  | No            | 1                  | On Loan: No      |
| Aon PLC                                        | Aon PLC - Class A                              | CUSIP: G0403H108<br>LEI: 635400FALWQYX5E6QC64 | Long             | EC               | CORP              | GB        |    477746 | NS      | $168587008.48 | 1.42%             |  |  |  | No            | 1                  | On Loan: No      |
| Broadcom Inc                                   | Broadcom, Inc.                                 | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     51455 | NS      | $17808575.50  | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Avantor Inc                                    | Avantor, Inc.                                  | CUSIP: 05352A100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2490982 | NS      | $28546653.72  | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Azelis Group NV                                | Azelis Group N.V.                              | CUSIP: 999999999<br>LEI: 699400M9RRMTV264FM70 | Long             | EC               | CORP              | BE        |  16929662 | NS      | $184966853.62 | 1.56%             |  |  |  | No            | 2                  | On Loan: No      |
| Becton Dickinson & Co                          | Becton Dickinson & Co.                         | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |   1180043 | NS      | $229010945.01 | 1.93%             |  |  |  | No            | 1                  | On Loan: No      |
| Bio-Rad Laboratories Inc                       | Bio-Rad Laboratories, Inc. - Class A           | CUSIP: 090572207<br>LEI: 549300ZC1GPV35XYDK53 | Long             | EC               | CORP              | US        |    243903 | NS      | $73900169.97  | 0.62%             |  |  |  | No            | 1                  | On Loan: No      |
| DELIVERY HERO AG                               | Delivery Hero S.E.                             | CUSIP: 999999999<br>LEI: 529900C3EX1FZGE48X78 | Long             | DBT              | CORP              | DE        |  86200000 | PA      | $98340331.41  | 0.83%             | 2027-01-23      | Fixed         | 1.00%                 | No            | 2                  | On Loan: No      |
| LEALAND FINANCE CO BV                          | Lealand Finance Co. B.V.                       | CUSIP: N5200EAB7<br>LEI: N/A                  | Long             | LON              | CORP              | NL        |  40595493 | PA      | $31258529.66  | 0.26%             | 2027-12-31      | Floating      | 7.83%                 | Yes           | 3                  | On Loan: No      |
| LEALAND FINANCE CO BV                          | Lealand Finance Co. B.V.                       | CUSIP: N5200EAC5<br>LEI: N/A                  | Long             | LON              | CORP              | NL        |   1074221 | PA      | $880861.14    | 0.01%             | 2027-06-30      | Floating      | 6.83%                 | Yes           | 3                  | On Loan: No      |
| CORNERSTONE ONDEMAND INC                       | Cornerstone OnDemand, Inc.                     | CUSIP: 86803YAB9<br>LEI: 549300Z402F16H5EGH48 | Long             | LON              | CORP              | US        |   2487023 | PA      | $2275626.43   | 0.02%             | 2028-10-16      | Floating      | 7.68%                 | Yes           | 2                  | On Loan: No      |
| VISION SOLUTIONS INC                           | Vision Solutions, Inc.                         | CUSIP: 70477BAE2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2486599 | PA      | $2296995.40   | 0.02%             | 2028-04-24      | Floating      | 8.10%                 | Yes           | 2                  | On Loan: No      |
| DELIVERY HERO AG                               | Delivery Hero S.E.                             | CUSIP: 999999999<br>LEI: 529900C3EX1FZGE48X78 | Long             | DBT              | CORP              | DE        |   1600000 | PA      | $1756258.08   | 0.01%             | 2028-01-15      | Fixed         | 1.50%                 | No            | 2                  | On Loan: No      |
| DELIVERY HERO AG                               | Delivery Hero S.E.                             | CUSIP: ZL0636734<br>LEI: 529900C3EX1FZGE48X78 | Long             | DBT              | CORP              | DE        | 126000000 | PA      | $143908614.41 | 1.21%             | 2030-02-21      | Fixed         | 3.25%                 | No            | 2                  | On Loan: No      |
| Citigroup Inc                                  | Citigroup, Inc.                                | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |   2192317 | NS      | $255821470.73 | 2.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Cie Financiere Richemont SA                    | Cie Financiere Richemont S.A.                  | CUSIP: 999999999<br>LEI: 549300YIPGJ6UX2QPS51 | Long             | EC               | CORP              | CH        |    446942 | NS      | $96383513.45  | 0.81%             |  |  |  | No            | 2                  | On Loan: No      |
| Charter Communications Inc                     | Charter Communications, Inc. - Class A         | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |    325576 | NS      | $67963990.00  | 0.57%             |  |  |  | No            | 1                  | On Loan: No      |
| Comcast Corp                                   | Comcast Corp. - Class A                        | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |   3996138 | NS      | $119444564.82 | 1.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Jett Texas LLC SOURCE   /                      | Jett Texas LLC SOURCE   /                      | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |  22500000 | OU      | $23960250.00  | 0.20%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Kinder Morgan Inc                              | Kinder Morgan, Inc.                            | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |   2488164 | NS      | $68399628.36  | 0.58%             |  |  |  | No            | 1                  | On Loan: No      |
| CarMax Inc                                     | CarMax, Inc.                                   | CUSIP: 143130102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1836295 | NS      | $70954438.80  | 0.60%             |  |  |  | No            | 1                  | On Loan: No      |
| SOUTH KOREAN WON  /                            | SOUTH KOREAN WON  /                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | STIV             |  | KR        |         3 | OU      | $0.00         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| MCDERMOTT INTERNATIO Ltd. AI CONTRA CUSIP   /  | MCDERMOTT INTERNATIO Ltd. AI CONTRA CUSIP   /  | CUSIP: 58004K406<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |    331301 | NS      | $4969515.00   | 0.04%             |  |  |  | Yes           | 3                  | On Loan: No      |
| NESTLE CAPITAL Corp. DCP, 01/07/2026   /       | NESTLE CAPITAL Corp. DCP, 01/07/2026   /       | CUSIP: 64105HA77<br>LEI: N/A                  | Long             | ABS-APCP         | CORP              | US        |  80000000 | PA      | $79951733.29  | 0.67%             | 2026-01-07      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| NESTLE CAPITAL DCP,  01/09/26   /              | NESTLE CAPITAL DCP,  01/09/26   /              | CUSIP: 64106HA92<br>LEI: N/A                  | Long             | ABS-APCP         | CORP              | US        |  77000000 | PA      | $76927620.00  | 0.65%             | 2026-01-09      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| Hoshizaki Corp                                 | Hoshizaki Corp.                                | CUSIP: 999999999<br>LEI: 5299001QAMLGU3SRBG20 | Long             | EC               | CORP              | JP        |    919020 | NS      | $30611664.40  | 0.26%             |  |  |  | No            | 2                  | On Loan: No      |
| Hirose Electric Co Ltd                         | Hirose Electric Co., Ltd.                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    438300 | NS      | $48504257.12  | 0.41%             |  |  |  | No            | 2                  | On Loan: No      |
| Pepsico, Inc. DCP, 01/22/2026   /              | Pepsico, Inc. DCP, 01/22/2026   /              | CUSIP: 71344UAN9<br>LEI: N/A                  | Long             | ABS-APCP         | CORP              | US        | 124000000 | PA      | $123722240.00 | 1.04%             | 2026-01-22      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| Pepsico, Inc. DCP, 02/11/2026   /              | Pepsico, Inc. DCP, 02/11/2026   /              | CUSIP: 71344UBB4<br>LEI: N/A                  | Long             | ABS-APCP         | CORP              | US        | 100000000 | PA      | $99577472.09  | 0.84%             | 2026-02-11      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| Pepsico, Inc. DCP, 03/09/2026   /              | Pepsico, Inc. DCP, 03/09/2026   /              | CUSIP: 71344UC98<br>LEI: N/A                  | Long             | ABS-APCP         | CORP              | US        |  95000000 | PA      | $94358195.83  | 0.79%             | 2026-03-09      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| TREASURY BILL                                  | United States Treasury Bill                    | CUSIP: 912797SR9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 139000000 | PA      | $138319297.69 | 1.16%             | 2026-02-17      | Fixed         | 0.00%                 | No            | 2                  | On Loan: No      |
| TREASURY BILL                                  | United States Treasury Bill                    | CUSIP: 912797SS7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  99000000 | PA      | $98448322.50  | 0.83%             | 2026-02-24      | Fixed         | 0.00%                 | No            | 2                  | On Loan: No      |
| TREASURY BILL                                  | United States Treasury Bill                    | CUSIP: 912797ST5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 140000000 | PA      | $139175134.00 | 1.17%             | 2026-03-03      | Fixed         | 0.00%                 | No            | 2                  | On Loan: No      |
| TREASURY BILL                                  | United States Treasury Bill                    | CUSIP: 912797SY4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 101000000 | PA      | $100350953.80 | 0.85%             | 2026-03-10      | Fixed         | 0.00%                 | No            | 2                  | On Loan: No      |

### Signature

**Date Signed:** 2026-01-13

**Name of Applicant:** Investment Managers Series Trust III

**Signature:** /s/ Maureen Quill

**Name of Signer:** Maureen Quill

**Title:** President