# EDGAR Filing Document

**Accession Number:** 0001609212
**File Stem:** 0001145549-23-013751
**Filing Date:** 2023-2
**Character Count:** 129653
**Document Hash:** 068d497b2cffc3e70a1af5b0111e1343
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-013751.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001145549-23-013751

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20230331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMG Pantheon Master Fund, LLC
- **CENTRAL INDEX KEY:** 0001609212
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22972
- **FILM NUMBER:** 23684877

**BUSINESS ADDRESS:**
- **STREET 1:** 680 WASHINGTON BOULEVARD, SUITE 500
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06901
- **BUSINESS PHONE:** 877-355-1566

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AMG Pantheon Private Equity Master Fund, LLC
- **DATE OF NAME CHANGE:** 20140527

## Nport-Ex

AMG Pantheon Master Fund, LLC

Consolidated Schedule of Investments

December 31, 2022 (unaudited)

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Initial<br>Acquisition<br>Date** | **Shares** | **Value** |
|  **Co-Investments - 45.6%** |  |  |  |
|  ACP Accelerant Co-Invest, LLC (Financials)<sup>(a),(b),\*</sup>  | 01/31/2022 | <sup>(c)</sup> | $23680884 |
|  AIX Pride Syndication L.P. (Information Technology)<sup>(a),\*</sup>  | 11/16/2018 | <sup>(c)</sup> | 8937056 |
|  AP VIII Prime Security Services Holdings, L.P. (Industrials)<sup>\*</sup>  | 04/26/2016 | <sup>(c)</sup> | 1726397 |
|  APH CUBS Co-invest LP (Financials)<sup>(a),\*</sup>  | 11/16/2018 | <sup>(c)</sup> | 7679325 |
|  APIA BIM FPCI (Information Technology) (France)<sup>(a),\*</sup>  | 02/25/2020 | <sup>(c)</sup> | 6456945 |
|  APIA DINO FPCI (Information Technology) (Netherland)<sup>(a),(b),\*</sup>  | 03/11/2022 | <sup>(c)</sup> | 10848557 |
|  APIA OPUS FPCI (Information Technology) (France)<sup>(a),\*</sup>  | 12/22/2020 | <sup>(c)</sup> | 3826591 |
|  APIA TRILOGY FPCI (Information Technology) (Belgium)<sup>(a),(b),\*</sup>  | 09/16/2021 | <sup>(c)</sup> | 12381618 |
|  Apollo DSB Co-Invest, L.P (Healthcare)<sup>(a),\*</sup>  | 11/14/2018 | <sup>(c)</sup> | 10105040 |
|  Aquarian Insurance Holdings (Financials)<sup>(a),(b),\*</sup>  | 09/29/2022 | <sup>(c)</sup> | 25758000 |
|  Armis Investors Holdings, L.P. (Information Technology)<sup>(a),\*</sup>  | 02/03/2020 | <sup>(c)</sup> | 4315849 |
|  Base10 Advancement Initiative IH I, L.P. (Healthcare)<sup>(a),(b),(d),\*</sup>  | 05/27/2022 | <sup>(c)</sup> | 4967000 |
|  BC Partners Aqua Co-Investment LP (Industrials) (Germany)<sup>(a),(b),\*</sup>  | 01/11/2022 | <sup>(c)</sup> | 9547898 |
|  BC Partners Clay Co-Investment LP (Materials) (Germany)<sup>(a),(b),\*</sup>  | 03/30/2022 | <sup>(c)</sup> | 16199358 |
|  CB Ignite Holdings, LLC (Consumer Discretionary)<sup>(d),\*</sup>  | 08/12/2016 | <sup>(c)</sup> | 4203992 |
|  DETZ Co-Investment Aggregator, L.P. (Financials)<sup>(a),\*</sup>  | 12/08/2021 | <sup>(c)</sup> | 14318574 |
|  Diamond LS I LP (Financials)<sup>(a),\*</sup>  | 12/28/2016 | <sup>(c)</sup> | 2619588 |
|  Digital Bridge Small Cell Holdings, LLC (Information Technology)<sup>(a),(d),\*</sup>  | 11/06/2015 | 31 | 548455 |
|  Eagle Investment Trust (Industrials) (Australia)<sup>(a),\*</sup>  | 08/12/2021 | <sup>(c)</sup> | 22024056 |
|  ECI 11 FP Limited (Information Technology) (United Kingdom)<sup>(a),\*</sup>  | 06/07/2021 | <sup>(c)</sup> | 6750765 |
|  Epsilon Topco Limited (Information Technology)<sup>(a),(d),\*</sup>  | 10/03/2018 | <sup>(c)</sup> | 2242761 |

---

------

AMG Pantheon Master Fund, LLC

Consolidated Schedule of Investments (continued)

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Initial<br>Acquisition<br>Date** | **Shares** | **Value** |
|  **Co-Investments - 45.6% (continued)** |  |  |  |
|  ESCP PPG Holdings, LLC (Industrials)<sup>(a),(d),\*</sup>  | 12/14/2016 | 2171429 | $0 |
|  Five Arrows Galliera Co-Invest Fund SCSp (Consumer Discretionary) (France)<sup>(a),(b),\*</sup>  | 08/04/2022 | <sup>(c)</sup> | 18376658 |
|  GGV (ET) LLC (Information Technology)<sup>(a),(b),\*</sup>  | 08/08/2022 | <sup>(c)</sup> | 4921000 |
|  Golden Aggregator, L.P. (Information Technology)<sup>(a),(d),\*</sup>  | 06/28/2021 | <sup>(c)</sup> | 22589812 |
|  H&F Flashdance Partners I, L.P. (Financials)<sup>(a),\*</sup>  | 07/16/2018 | <sup>(c)</sup> | 1200915 |
|  H.I.G. Pixelle Specialty Solutions Co-Investment, L.P. (Materials)<sup>(a),(b),\*</sup>  | 07/15/2022 | <sup>(c)</sup> | 7666742 |
|  Help HP SCF Investor, LP (Information Technology)<sup>(a),(d),\*</sup>  | 05/12/2021 | <sup>(c)</sup> | 9579100 |
|  Hg Athena Co-Invest L.P. (Information Technology) (United Kingdom)<sup>(a),\*</sup>  | 03/18/2020 | <sup>(c)</sup> | 4794472 |
|  Hg Riley Co-Invest L.P. (Information Technology)<sup>(a),(b),\*</sup>  | 09/30/2021 | <sup>(c)</sup> | 9692619 |
|  Hg Secular Co-Invest L.P. (Information Technology)<sup>(a),\*</sup>  | 09/16/2020 | <sup>(c)</sup> | 4006834 |
|  Hg Spider Co-Invest L.P. (Information Technology) (United Kingdom)<sup>(a),\*</sup>  | 03/18/2019 | <sup>(c)</sup> | 5499257 |
|  Hg Vibranium Co-Invest L.P. (Information Technology) (Sweden)<sup>(a),(b),\*</sup>  | 06/29/2022 | <sup>(c)</sup> | 20256400 |
|  Hg Vivaldi 2 Co-Invest L.P. (Information Technology) (Norway)<sup>(a),\*</sup>  | 06/10/2019 | <sup>(c)</sup> | 4835172 |
|  Hygee International SARL (Materials) (France)<sup>(a),(d),\*</sup>  | 12/17/2020 | <sup>(c)</sup> | 4503513 |
|  Incline A Aviation Co-Investment Fund (Industrials)<sup>(d),\*</sup>  | 05/15/2020 | <sup>(c)</sup> | 2073422 |
|  Incline B Aviation Aladdin Co-Investment Limited Partnership (Industrials)<sup>(a),(d),\*</sup>  | 06/26/2018 | <sup>(c)</sup> | 2530000 |
|  Insight RF Holdings, LLC (Information Technology)<sup>(a),\*</sup>  | 07/03/2019 | <sup>(c)</sup> | 11918350 |
|  ISH Co-Invest Aggregator, L.P. (Information Technology)<sup>(a),\*</sup>  | 05/06/2021 | <sup>(c)</sup> | 5985461 |
|  IVP XI Celestial Co-Invest LP (Industrials)<sup>(a),\*</sup>  | 06/04/2021 | <sup>(c)</sup> | 8502379 |
|  IVP XII DK (BLOCKED) Co-Invest, L.P. (Communication Services)<sup>(a),(b),(d),\*</sup>  | 10/01/2021 | <sup>(c)</sup> | 12958371 |

---

------

AMG Pantheon Master Fund, LLC

Consolidated Schedule of Investments (continued)

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Initial<br>Acquisition<br>Date** | **Shares** | **Value** |
|  **Co-Investments - 45.6% (continued)** |  |  |  |
|  JP Co-Invest, LLC (Consumer Staples)<sup>(a),\*</sup>  | 11/13/2018 | <sup>(c)</sup> | $1792408 |
|  KKR Cavalry Co-Invest L.P. (Information Technology)<sup>(a),(b),\*</sup>  | 03/22/2022 | <sup>(c)</sup> | 7337233 |
|  LEP Prelude Co-Invest, L.P. (Healthcare)<sup>(a),\*</sup>  | 07/05/2017 | <sup>(c)</sup> | 4761064 |
|  Logan Co-Invest, L.P. (Information Technology)<sup>(a),\*</sup>  | 08/27/2020 | <sup>(c)</sup> | 4963326 |
|  NetSPI (Information Technology)<sup>(a),(b),\*</sup>  | 11/01/2022 | <sup>(c)</sup> | 18794000 |
|  Ocean Alliance III, L.P. (Communication Services) (China)<sup>(a),\*</sup>  | 09/04/2020 | <sup>(c)</sup> | 5946995 |
|  Olive Investments Limited (Information Technology)<sup>(a),(b),\*</sup>  | 09/01/2021 | <sup>(c)</sup> | 14013043 |
|  Onex ISO Co-Invest LP (Financials)<sup>(a),(b),\*</sup>  | 10/29/2021 | <sup>(c)</sup> | 17046956 |
|  Project Alpine Co-Invest Fund, L.P. (Information Technology)<sup>(a),\*</sup>  | 06/13/2022 | <sup>(c)</sup> | 41247972 |
|  Project Hotel California Co-Invest Fund, L.P. (Information Technology)<sup>(a),(b),\*</sup>  | 07/29/2022 | <sup>(c)</sup> | 33806200 |
|  PSG Government Brands II Co-Invest L.P. (Information Technology)<sup>(a),(b),\*</sup>  | 07/30/2021 | <sup>(c)</sup> | 11773723 |
|  PSG LM Co-Investors L.P. (Information Technology)<sup>(a),\*</sup>  | 05/24/2016 | <sup>(c)</sup> | 11815500 |
|  Quantum Parallel Partners VI-C(A), LP (Energy)<sup>(a),\*</sup>  | 10/16/2015 | <sup>(c)</sup> | 645649 |
|  Quantum QEP VII Co-Investment Fund, L.P. (Energy)<sup>(a),\*</sup>  | 08/30/2018 | <sup>(c)</sup> | 1845010 |
|  RCP Artemis Co-Invest LP (Financials)<sup>(a),\*</sup>  | 08/01/2019 | <sup>(c)</sup> | 12749576 |
|  RL Co-investor Aggregator II L.P. (Communication Services)<sup>(a),(b),\*</sup>  | 03/04/2022 | <sup>(c)</sup> | 21802658 |
|  Roark Capital Partners II Sidecar LP (Consumer Discretionary)<sup>(a),\*</sup>  | 11/26/2018 | <sup>(c)</sup> | 7615210 |
|  SDA Investors Group, LLC - Class A (Healthcare)<sup>(a),(d),\*</sup>  | 08/03/2017 | <sup>(c)</sup> | 2976662 |
|  SDA Investors Group, LLC - Series A Pref (Healthcare)<sup>(a),(d),\*</sup>  | 03/26/2019 | <sup>(c)</sup> | 1878029 |
|  Sequoia Financial Group (Financials)<sup>(a),(b),\*</sup>  | 10/28/2022 | <sup>(c)</sup> | 21088700 |
|  SignalFire Opportunities Fund, L.P. (Healthcare)<sup>(a),(b),\*</sup>  | 04/08/2022 | <sup>(c)</sup> | 4957428 |

---

------

AMG Pantheon Master Fund, LLC

Consolidated Schedule of Investments (continued)

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Initial<br>Acquisition<br>Date** | **Shares** | **Value** |
|  **Co-Investments - 45.6% (continued)** |  |  |  |
|  SignalFire Opportunities Fund, L.P. – Series 11 (Financials)<sup>(a),(b),\*</sup>  | 12/10/2021 | <sup>(c)</sup> | $5064424 |
|  SKCP V Sirona Co-Invest, L.P. (Healthcare) (France)<sup>(a),(b),\*</sup>  | 12/16/2021 | <sup>(c)</sup> | 14096916 |
|  SYFS Co-INVEST, LLC (Healthcare)<sup>(a),\*</sup>  | 09/01/2017 | <sup>(c)</sup> | 944964 |
|  T-VI Co-Invest-A (Financials)<sup>(a),\*</sup>  | 08/12/2015 | <sup>(c)</sup> | 2217634 |
|  T-VII Mitchell/Genex Co-Invest, L.P. (Healthcare)<sup>(a),\*</sup>  | 06/28/2018 | <sup>(c)</sup> | 4260303 |
|  TCP DJR Co-Invest, L.P (Energy)<sup>(a),\*</sup>  | 11/20/2018 | <sup>(c)</sup> | 4663052 |
|  TKC Investment Holdings, LLC (Consumer Discretionary)<sup>(a),\*</sup>  | 10/12/2016 | <sup>(c)</sup> | 3140989 |
|  TPG Clarinet Co-Invest, LP (Consumer Discretionary) (Australia)<sup>\*</sup>  | 02/26/2019 | <sup>(c)</sup> | 7319628 |
|  TPG Growth V Amplifier CI, L.P. (Healthcare)<sup>(b),\*</sup>  | 02/10/2022 | <sup>(c)</sup> | 13490904 |
|  TPG Growth V Melody CI, Limited Partnership (Communication Services) (Italy)<sup>(a),(b),\*</sup>  | 07/18/2022 | <sup>(c)</sup> | 15000000 |
|  TPG VII Renown Co-Invest I, L.P. (Consumer Stationary)<sup>(a),\*</sup>  | 05/09/2018 | <sup>(c)</sup> | 571256 |
|  TVG-I-E-AEG Holdings (Consumer Discretionary)<sup>\*</sup>  | 01/27/2017 | <sup>(c)</sup> | 1981303 |
|  Verdane Co-Invest Papirfly AB (Information Technology) (Norway)<sup>(a),(b),\*</sup>  | 03/30/2022 | <sup>(c)</sup> | 4031276 |
|  Vestwell (Information Technology)<sup>(a),(b),(d),\*</sup>  | 12/23/2022 | <sup>(c)</sup> | 4998000 |
|  Vistria AP Investment LLC (Consumer Discretionary)<sup>(a),(d),\*</sup>  | 12/12/2019 | <sup>(c)</sup> | 7271819 |
|  WP Triton Investment, L.P. (Communication Services) (United Kingdom)<sup>\*</sup>  | 12/10/2019 | <sup>(c)</sup> | 1892812 |
|  WP-LH Co-Invest, L.P. (Consumer Discretionary)<sup>(a),\*</sup>  | 06/25/2015 | <sup>(c)</sup> | 542412 |
|  **Total Co-Investments** |  |  | **701374220** |
|  **Primary Private Investment Funds - 4.9%** |  |  |  |
|  Abry Advanced Securities Fund IV, L.P.<sup>(a),\*</sup>  | 02/19/2019 | <sup>(c)</sup> | 2871757 |
|  Banc Fund IX L.P.<sup>(a),\*</sup>  | 01/19/2016 | <sup>(c)</sup> | 152839 |
|  Battery Ventures Select Fund II, L.P.<sup>(a),(b),\*</sup>  | 06/27/2022 | <sup>(c)</sup> | 712979 |
|  Battery Ventures XIV, L.P.<sup>(a),(b),\*</sup>  | 07/20/2022 | <sup>(c)</sup> | 911473 |

---

------

AMG Pantheon Master Fund, LLC

Consolidated Schedule of Investments (continued)

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Initial<br>Acquisition<br>Date** | **Shares** | **Value** |
|  **Primary Private Investment Funds - 4.9% (continued)** |  |  |  |
|  BC European Capital XI (United Kingdom)<sup>(a),(b),\*</sup>  | 02/25/2022 | <sup>(c)</sup> | $9308043 |
|  BroadRiver III, L.P.<sup>\*</sup>  | 03/27/2018 | <sup>(c)</sup> | 3033135 |
|  Calera Capital Partners V L.P.<sup>\*</sup>  | 04/25/2016 | <sup>(c)</sup> | 99079 |
|  Carlyle Renewable and Sustainable Energy Fund II<sup>(a),(b),\*</sup>  | 11/29/2022 | <sup>(c)</sup> | 589757 |
|  Five Arrows Principal Investments IV SCSp (United Kingdom)<sup>(a),(b),\*</sup>  | 06/17/2022 | <sup>(c)</sup> | 4045093 |
|  GSO Capital Opportunities Fund III, L.P.<sup>\*</sup>  | 09/22/2016 | <sup>(c)</sup> | 726544 |
|  HGGC Fund IV<sup>(b),\*</sup>  | 12/03/2021 | <sup>(c)</sup> | 12241320 |
|  Incline Aviation Fund II<sup>(d),\*</sup>  | 05/07/2021 | <sup>(c)</sup> | 5531140 |
|  Incline Aviation I<sup>(d),\*</sup>  | 03/09/2017 | <sup>(c)</sup> | 1352973 |
|  PSG Encore-A L.P.<sup>(a),(b),\*</sup>  | 03/23/2022 | <sup>(c)</sup> | 7908784 |
|  Redpoint IX<sup>(a),(b),(d),\*</sup>  | 10/03/2022 | <sup>(c)</sup> | 83400 |
|  SignalFire Breakout Fund III, L.P.<sup>(a),(b),\*</sup>  | 01/31/2022 | <sup>(c)</sup> | 3087887 |
|  SignalFire Fund IV, L.P.<sup>(a),(b),\*</sup>  | 01/31/2022 | <sup>(c)</sup> | 1424296 |
|  SignalFire XIR Fund, L.P.<sup>(a),(b),\*</sup>  | 01/31/2022 | <sup>(c)</sup> | 2034688 |
|  TPG Growth V, L.P.<sup>(a),(b),\*</sup>  | 09/17/2021 | <sup>(c)</sup> | 18284387 |
|  West Street Infrastructure Partners IV (GSIP)<sup>(e),\*</sup>  | 09/30/2022 | <sup>(c)</sup> | 423292 |
|  **Total Primary Private Investment Funds** |  |  | **74822866** |
|  **Secondary Private Investment Funds - 46.7%** |  |  |  |
|  1901 Partners LP<sup>(a),\*</sup>  | 07/16/2015 | <sup>(c)</sup> | 60968 |
|  3i Venice SCSp (United Kingdom)<sup>\*</sup>  | 01/15/2020 | <sup>(c)</sup> | 12429985 |
|  Abry Advanced Securities Fund III, L.P.<sup>(a),\*</sup>  | 03/31/2021 | <sup>(c)</sup> | 5542856 |
|  ABRY Heritage Partners, L.P.<sup>(e),\*</sup>  | 03/31/2021 | <sup>(c)</sup> | 286706 |
|  ABRY Partners IX, L.P.<sup>(e),\*</sup>  | 03/31/2021 | <sup>(c)</sup> | 2046541 |
|  ABRY Partners VI, L.P.<sup>(a),(e),\*</sup>  | 03/31/2021 | <sup>(c)</sup> | 11347 |
|  ABRY Partners VII, L.P.<sup>(e),\*</sup>  | 03/31/2021 | <sup>(c)</sup> | 319808 |
|  ABRY Partners VIII, L.P.<sup>(e),\*</sup>  | 03/31/2021 | <sup>(c)</sup> | 334701 |
|  ABRY Senior Equity III, L.P.<sup>(a),(e),\*</sup>  | 03/31/2021 | <sup>(c)</sup> | 9259 |

---

------

AMG Pantheon Master Fund, LLC

Consolidated Schedule of Investments (continued)

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Initial<br>Acquisition<br>Date** | **Shares** | **Value** |
|  **Secondary Private Investment Funds - 46.7% (continued)** |  |  |  |
|  ABRY Senior Equity IV, L.P.<sup>(e),\*</sup>  | 03/31/2021 | <sup>(c)</sup> | $230651 |
|  ABRY Senior Equity V, L.P.<sup>(e),\*</sup>  | 03/31/2021 | <sup>(c)</sup> | 1885652 |
|  ACON Equity Partners 3.5, L.P.<sup>(a),(e),\*</sup>  | 01/12/2022 | <sup>(c)</sup> | 2604137 |
|  ACON Equity Partners IV, L.P.<sup>(a),(e),\*</sup>  | 01/04/2022 | <sup>(c)</sup> | 5170736 |
|  Allegro Private Equity Fund II, L.P. (Australia)<sup>(a),\*</sup>  | 03/04/2020 | <sup>(c)</sup> | 2029244 |
|  Alpine Investors TEAM CV Feeder, LLC<sup>(a),\*</sup>  | 12/17/2020 | <sup>(c)</sup> | 6609265 |
|  Altor Fund III Ltd. Partnership (Sweden)<sup>(e),\*</sup>  | 04/07/2022 | <sup>(c)</sup> | 1058663 |
|  Altor Fund IV AB (Sweden)<sup>(b),\*</sup>  | 04/08/2022 | <sup>(c)</sup> | 2704279 |
|  Altor Fund V AB (Sweden)<sup>(b),\*</sup>  | 04/08/2022 | <sup>(c)</sup> | 3985343 |
|  Antin Infrastructure Partners III-B SCSp (Spain)<sup>(a),\*</sup>  | 11/04/2020 | <sup>(c)</sup> | 5063531 |
|  Apax France VIII-A FCPR (France)<sup>(a),\*</sup>  | 01/22/2019 | <sup>(c)</sup> | 827289 |
|  Archer Capital GF Trust 2B (Australia)<sup>\*</sup>  | 03/04/2020 | <sup>(c)</sup> | 1255549 |
|  Archer Capital Trust 5B (Australia)<sup>(a),\*</sup>  | 03/04/2020 | <sup>(c)</sup> | 560108 |
|  Ares Corporate Opportunities Fund IV, L.P.<sup>(a),\*</sup>  | 04/13/2017 | <sup>(c)</sup> | 952492 |
|  Avenue Pantheon Broadway Fund, L.P. (United Kingdom)<sup>(a),\*</sup>  | 03/07/2019 | <sup>(c)</sup> | 1719743 |
|  Aztiq Fund I<sup>(a),\*</sup>  | 05/13/2019 | <sup>(c)</sup> | 8699729 |
|  Base10 Partners I, L.P.<sup>(a),(b),\*</sup>  | 08/03/2022 | <sup>(c)</sup> | 6747164 |
|  Berkshire Fund IX Coinvestment Fund L.P.<sup>(a),(e),\*</sup>  | 04/08/2022 | <sup>(c)</sup> | 2619872 |
|  Berkshire Fund IX, L.P.<sup>(e),\*</sup>  | 09/03/2021 | <sup>(c)</sup> | 6651267 |
|  Berkshire Fund VI L.P.<sup>(a),(b),\*</sup>  | 04/08/2022 | <sup>(c)</sup> | 1157966 |
|  Berkshire Fund VII, L.P.<sup>(a),(b),\*</sup>  | 04/08/2022 | <sup>(c)</sup> | 159986 |
|  Berkshire Fund VIII L.P.<sup>(b),\*</sup>  | 04/08/2022 | <sup>(c)</sup> | 2380448 |
|  Berkshire Fund X-A, L.P.<sup>(a),(b),\*</sup>  | 11/16/2021 | <sup>(c)</sup> | 841240 |
|  Blackstone Capital Partners VI<sup>(e),\*</sup>  | 04/07/2022 | <sup>(c)</sup> | 303262 |
|  CapVest Strategic Opportunities 2 SCSp (United Kingdom)<sup>(a),\*</sup>  | 12/01/2020 | <sup>(c)</sup> | 4348827 |
|  Carlyle Global Infrastructure Opportunity Fund, L.P.<sup>(e),\*</sup>  | 04/21/2022 | <sup>(c)</sup> | 10193243 |

---

------

AMG Pantheon Master Fund, LLC

Consolidated Schedule of Investments (continued)

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Initial<br>Acquisition<br>Date** | **Shares** | **Value** |
|  **Secondary Private Investment Funds - 46.7% (continued)** |  |  |  |
|  CBPE Capital Fund IX B, L.P. (United Kingdom)<sup>(a),\*</sup>  | 12/31/2020 | <sup>(c)</sup> | $3235220 |
|  CD&R Value Building Partners I, L.P.<sup>(b),\*</sup>  | 12/17/2021 | <sup>(c)</sup> | 31667180 |
|  Clearview Capital Fund III, L.P.<sup>(a),(e),\*</sup>  | 04/07/2022 | <sup>(c)</sup> | 1053918 |
|  Clearview Capital Fund IV, L.P.<sup>(e),\*</sup>  | 04/08/2022 | <sup>(c)</sup> | 5980232 |
|  Clearview Capital Mezzanine Fund I, L.P.<sup>(e),\*</sup>  | 04/08/2022 | <sup>(c)</sup> | 769762 |
|  DPE Continuation Fund I (Germany)<sup>(a),(b),\*</sup>  | 10/07/2022 | <sup>(c)</sup> | 34288390 |
|  ECP Calpine Continuation Fund, LP<sup>(b),\*</sup>  | 07/05/2022 | <sup>(c)</sup> | 28053300 |
|  Ergon svt Long Term Value Fund SCSp (Germany)<sup>(a),\*</sup>  | 02/24/2021 | <sup>(c)</sup> | 4299889 |
|  ESO Fund VII SCSp SICAV-RAIF (United Kingdom)<sup>(a),(b),\*</sup>  | 09/01/2021 | <sup>(c)</sup> | 6224087 |
|  Francisco Partners III, L.P.<sup>(a),\*</sup>  | 01/05/2015 | <sup>(c)</sup> | 83831 |
|  GIP Aquarius Fund, SCSp (Brazil)<sup>(a),(b),\*</sup>  | 10/19/2021 | <sup>(c)</sup> | 12200855 |
|  Global Infrastructure Partners II (United Kingdom)<sup>(a),(b),\*</sup>  | 12/30/2022 | <sup>(c)</sup> | 8918479 |
|  Global Infrastructure Partners III<sup>(a),(b),\*</sup>  | 12/30/2022 | <sup>(c)</sup> | 2323941 |
|  Graham Partners OptConnect Continuation Fund Parallel<sup>(a),(b),\*</sup>  | 12/20/2022 | <sup>(c)</sup> | 31442448 |
|  Greenbriar Equity Fund III, L.P.<sup>(e),\*</sup>  | 03/31/2021 | <sup>(c)</sup> | 1615593 |
|  H&F Arrow 2, L.P.<sup>(a),\*</sup>  | 08/28/2020 | <sup>(c)</sup> | 250894 |
|  Hellman & Friedman Capital Partners VII, L.P.<sup>(a),\*</sup>  | 10/01/2019 | <sup>(c)</sup> | 139134 |
|  Hosen FCV I, L.P. (Australia)<sup>(a),(b),\*</sup>  | 04/13/2022 | <sup>(c)</sup> | 29589867 |
|  Housatonic Equity Investors V, L.P.<sup>(e),\*</sup>  | 04/07/2022 | <sup>(c)</sup> | 1624677 |
|  Housatonic Equity Investors VI, L.P.<sup>(e),\*</sup>  | 04/07/2022 | <sup>(c)</sup> | 9583522 |
|  Icon Partners III, L.P.<sup>(a),\*</sup>  | 05/10/2021 | <sup>(c)</sup> | 7007111 |
|  Icon Partners IV, L.P.<sup>(a),\*</sup>  | 05/24/2021 | <sup>(c)</sup> | 16935977 |
|  Idinvest Growth Secondary SLP (France)<sup>(a),\*</sup>  | 05/21/2020 | <sup>(c)</sup> | 6171651 |
|  Industrial Opportunity Partners II<sup>(a),(b),\*</sup>  | 04/01/2022 | <sup>(c)</sup> | 305877 |
|  Industrial Opportunity Partners III<sup>(a),(b),\*</sup>  | 04/01/2022 | <sup>(c)</sup> | 6652422 |
|  Industrial Opportunity Partners IV, L.P.<sup>(a),(b),\*</sup>  | 05/06/2022 | <sup>(c)</sup> | 697347 |

---

------

AMG Pantheon Master Fund, LLC

Consolidated Schedule of Investments (continued)

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Initial<br>Acquisition<br>Date** | **Shares** | **Value** |
|  **Secondary Private Investment Funds - 46.7% (continued)** |  |  |  |
|  Insight Venture Partners IX, L.P.<sup>(a),\*</sup>  | 01/02/2020 | <sup>(c)</sup> | $7394294 |
|  Insight Ventures Partners (Cayman) X, L.P.<sup>(a),(b),\*</sup>  | 01/04/2022 | <sup>(c)</sup> | 13443104 |
|  KKR Mezzanine Partners I L.P.<sup>(b),\*</sup>  | 04/07/2022 | <sup>(c)</sup> | 472591 |
|  LEP Opportunities I, L.P.<sup>(a),\*</sup>  | 06/30/2021 | <sup>(c)</sup> | 16342759 |
|  Linden Opportunities Fund, L.P.<sup>(a),(b),\*</sup>  | 09/01/2022 | <sup>(c)</sup> | 12226800 |
|  Marwyn Value Investors II Co-Invest (Spain)<sup>(a),(b),\*</sup>  | 04/01/2022 | <sup>(c)</sup> | 155378 |
|  Marwyn Value Investors II L.P. (Spain)<sup>(a),(b),\*</sup>  | 04/01/2022 | <sup>(c)</sup> | 386846 |
|  MC Private Equity Partners I-A LP<sup>(e),\*</sup>  | 03/31/2021 | <sup>(c)</sup> | 5115943 |
|  Medicxi Secondary I, L.P. (United Kingdom)<sup>(a),\*</sup>  | 09/21/2020 | <sup>(c)</sup> | 2786077 |
|  MIC Capital Partners III Parallel (Cayman) LP<sup>(a),\*</sup>  | 04/14/2021 | <sup>(c)</sup> | 4417267 |
|  Nordic Capital CF1 Alpha, L.P. (Norway)<sup>(a),\*</sup>  | 03/11/2022 | <sup>(c)</sup> | 20908900 |
|  North Haven Capital Partners CV-A LP<sup>(a),(b),\*</sup>  | 11/15/2021 | <sup>(c)</sup> | 20396100 |
|  Oaktree Special Situations Fund, L.P.<sup>(a),(e),\*</sup>  | 04/07/2022 | <sup>(c)</sup> | 1734318 |
|  One Equity Partners VI, L.P.<sup>(a),(b),\*</sup>  | 04/08/2022 | <sup>(c)</sup> | 1969963 |
|  P-O Senior Loan Opportunity Fund L.P.<sup>\*</sup>  | 09/08/2020 | <sup>(c)</sup> | 82743 |
|  PAI Strategic Partnerships SCSp (United Kingdom)<sup>(a),\*</sup>  | 12/10/2019 | <sup>(c)</sup> | 6774790 |
|  Pegasus WSJLL Fund, L.P.<sup>(a),(b),\*</sup>  | 12/14/2021 | <sup>(c)</sup> | 20894400 |
|  Pennantpark Senior Credit Fund Cayman Levered Feeder, LP<sup>\*</sup>  | 06/29/2021 | <sup>(c)</sup> | 9297800 |
|  Providence Equity Partners VI, L.P.<sup>\*</sup>  | 12/12/2014 | <sup>(c)</sup> | 24681 |
|  PSC III G, L.P. (United Kingdom)<sup>(a),(b),\*</sup>  | 04/04/2022 | <sup>(c)</sup> | 4984237 |
|  RL Co-investor Aggregator L.P.<sup>(a),(b),\*</sup>  | 08/31/2022 | <sup>(c)</sup> | 10394000 |
|  Roark Capital Partners CF LP<sup>(a),(b),\*</sup>  | 08/26/2022 | <sup>(c)</sup> | 24033000 |
|  RREF I SPV, L.P.<sup>(a),(b),\*</sup>  | 05/13/2022 | <sup>(c)</sup> | 8638829 |
|  Samson Brunello 2, L.P.<sup>(a),\*</sup>  | 02/19/2021 | <sup>(c)</sup> | 149579 |
|  Samson Hockey 2, L.P.<sup>(a),\*</sup>  | 12/23/2020 | <sup>(c)</sup> | 228233 |
|  Samson Shield 2, L.P.<sup>(a),\*</sup>  | 12/23/2020 | <sup>(c)</sup> | 417418 |
|  SGP II CF Feeder, L.P.<sup>(a),(b),\*</sup>  | 08/12/2022 | <sup>(c)</sup> | 23506674 |

---

------

AMG Pantheon Master Fund, LLC

Consolidated Schedule of Investments (continued)

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Initial<br>Acquisition<br>Date** | **Shares** | **Value** |
|  **Secondary Private Investment Funds - 46.7% (continued)** |  |  |  |
|  ShiftKey<sup>(a),(b),\*</sup>  | 11/25/2022 | <sup>(c)</sup> | $20000000 |
|  Silver Lake Partners V, L.P.<sup>(b),\*</sup>  | 01/04/2022 | <sup>(c)</sup> | 13126272 |
|  Silver Oak Services Fund IV, L.P.<sup>(a),(e),\*</sup>  | 04/07/2022 | <sup>(c)</sup> | 2814104 |
|  Siris Partners II, L.P.<sup>(b),\*</sup>  | 04/01/2022 | <sup>(c)</sup> | 298709 |
|  Siris Partners III, L.P.<sup>(b),\*</sup>  | 04/01/2022 | <sup>(c)</sup> | 2203366 |
|  Siris Partners III, L.P.<sup>(b),\*</sup>  | 04/07/2022 | <sup>(c)</sup> | 5868787 |
|  Siris Partners IV, L.P.<sup>(b),\*</sup>  | 04/01/2022 | <sup>(c)</sup> | 3012419 |
|  Solace Capital Special Situations Fund, L.P.<sup>(b),\*</sup>  | 08/06/2021 | <sup>(c)</sup> | 13459960 |
|  Tene GPL Limited Partnership (Israel)<sup>(a),\*</sup>  | 06/23/2021 | <sup>(c)</sup> | 18007540 |
|  Thomas H. Lee Equity Fund VIII, L.P.<sup>(a),(e),\*</sup>  | 04/01/2022 | <sup>(c)</sup> | 140807 |
|  TiaraMed LP (Romania)<sup>(a),(b),\*</sup>  | 10/15/2021 | <sup>(c)</sup> | 12496774 |
|  TPG Asia V, L.P.<sup>(b),\*</sup>  | 01/12/2022 | <sup>(c)</sup> | 579293 |
|  TPG Asia VI, L.P.<sup>(b),\*</sup>  | 01/12/2022 | <sup>(c)</sup> | 5715363 |
|  TPG Growth Gator GenPar II, L.P.<sup>(a),\*</sup>  | 12/23/2019 | <sup>(c)</sup> | 3584743 |
|  TPG Partners V, L.P.<sup>(a),\*</sup>  | 10/31/2015 | <sup>(c)</sup> | 244 |
|  TPG Partners VI, L.P.<sup>(e),\*</sup>  | 01/12/2022 | <sup>(c)</sup> | 660980 |
|  TPG Partners VI, L.P.<sup>\*</sup>  | 10/31/2015 | <sup>(c)</sup> | 56245 |
|  TPG Partners VII, L.P.<sup>(e),\*</sup>  | 01/12/2022 | <sup>(c)</sup> | 2238740 |
|  TPG Partners VIII, L.P<sup>(e),\*</sup>  | 01/12/2022 | <sup>(c)</sup> | 4551053 |
|  Warburg Pincus Private Equity XII, L.P.<sup>(b),\*</sup>  | 09/30/2021 | <sup>(c)</sup> | 6183872 |
|  Warburg Pincus Private Equity XII, L.P.<sup>(e),\*</sup>  | 01/12/2022 | <sup>(c)</sup> | 5260169 |
|  Water Street Orion Fund, L.P.<sup>(a),(b),\*</sup>  | 10/13/2021 | <sup>(c)</sup> | 19151500 |
|  West Street Global Infrastructure Partners III, L.P.<sup>(e),\*</sup>  | 04/21/2022 | <sup>(c)</sup> | 8872519 |
|  **Total Secondary Private Investment Funds** |  |  | **718377644** |
|  **Common Stock - 0.0%<sup>(1)</sup>**  |  |  |  |
|  TransDigm Group, Inc.<sup>(a)</sup>  |  | 131 | 82484 |
|  **Total Common Stock** |  |  | **82484** |

---

------

AMG Pantheon Master Fund, LLC

Consolidated Schedule of Investments (continued)

------

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
|  **Short-Term Investments - 3.2%** |  |  |
|  **Other Investment Companies - 3.2%** |  |  |
|  Dreyfus Government Cash Management Fund, Institutional Class, 4.16% <sup>(2)</sup>  | 48676328 | $**48676328** |
|  **Total Investments - 100.4% (cost $1,339,427,189)** |  | **1543333542** |
|  Other Assets, less Liabilities - (0.4%) |  | (6077703) |
|  **Net Assets - 100.0%** |  | $**1537255839** |

---

Cost of Investments by asset type is as follows: 

---

| | |
|:---|:---|
|  Co-Investments | $581994555.0 |
|  Primary Private Investment Funds | 73838645.0 |
|  Secondary Private Investment Funds | 634836138.0 |
|  Common Stock | 81523.0 |
|  Short-Term Investments | 48676328.0 |
|  Total | $1339427189.0 |

---

(a) Non-income producing.

(b) Investment is held by AMG Pantheon Lead Fund, LLC, a wholly-owned subsidiary of AMG Pantheon Master Fund, LLC
(the "Master Fund").

(c) Investment does not issue shares.

(d) The investment's value was determined using significant unobservable inputs.

(e) Investment is held by AMG Pantheon Subsidiary Fund, LLC (the "Corporate Subsidiary"), a wholly-owned
subsidiary of the Master Fund.

(1) Less than 0.05%.

(2) Yield shown represents the December 31, 2022, seven-day average
yield, which refers to the sum of the previous seven days' dividends paid, expressed as an annual percentage.

\* Investment is issued in a private placement offering and is restricted to resale. Each investment may have been purchased on various dates and for different amounts. The date of the first purchase is reflected under Initial Acquisition Date as shown in the Consolidated Schedule of Investments. 

------

AMG Pantheon Master Fund, LLC

Consolidated Schedule of Investments (continued)

------

As of December 31, 2022, the aggregate cost of each investment restricted to resale was $23,691,573, $200,093, $1,202,860, $4,059,584, $3,335,836, $10,829,540, $3,744,845, $10,929,227, $2,141,549, $25,007,955, $4,245,077, $5,159,391, $15,022,158, $16,379,406, $1,295,640, $14,061,119, $1,167,960, $211,728, $7,206,199, $7,328,042, $1,783,591, $2,174,345, $17,662,814, $5,043,774, $15,000,000, $636,693, $8,090,514, $7,797,897, $3,320,212, $7,857,364, $3,033,908, $2,330,057, $2,004, 1949, $1,931,802, $4,760,163, $1,154,552, $2,276,020, $3,376,573, $5,588,918, $8,429,116, $14,975,392, $2,188,775, $7,337,233, $1,849,814, $3,767,531, $18,794,000, $3,520,819, $9,698,069, $19,692,078, $39,967,779, $34,534,744, $11,563,863, $1,172,266, $218,196, $1,392,445, $3,892,609, $21,341,770, $4,652,874, $3,730,626, $1,139,648, $20,454,713, $4,977,228, $5,109,869, $15,545,559, $2,972,962, $196,441, $2,312,991, $3,393,333, $1,551, $0, $10,122,166, $1, 5031,794, $1,434,023, $434,236, $5,242,823, $5,100,000, $1,727,490, $2,799,759, $197,042, $3,223,857, $125,416, $832,200, $1,064,000, $9,368,481, $2,725,863, $65,196, $589,757, $4,439,722, $828,822, $13,170,462, $5,730,019, $1,221,881, $8,231,790, $135,131, $3,327,206, $1,555,323, $2,250,000, $14,525,294, $428,225, $416,343, $4,406,034, $4,979,005, $216,430, $1,474,290, $21,716, $367,433, $580,050, $33,618, $214,130, $1,347,759, $1,943,458, $4,140,844, $2,606,795, $3,833,877, $1,122,551, $2,904,083, $4,454,073, $3,608,947, $624,025, $832,708, $894,423, $1,335,824, $1,778,561, $3,880,431, $4,667,509, $3,081,331, $6,602,867, $1,072,944, $184,445, $1,877,679, $794,292, $341,522, $3,637,885, $8,247,877, $3,584,264, $35,088,897, $1,092,956, $5,895,662, $732,621, $31,882,795, $28,990,489, $4,190,961, $3,583,974, $89,384, $11,115,198, $6,949,650, $1,753,556, $31,442,448, $1,745,391, $138,745, $806,578, $22,495,567, $1,416,525, $8,959,190, $8,609,405, $15,247,550, $2,114,571, $127,565, $6,145,417, $757,829, $4,870,043, $15,207,560, $344,649, $12,890,166, $12,214,819, $158,076, $285,233, $3,077,029, $3,733,949, $4,429,307, $20,917,106, $10,700,185, $1,330,896, $1,533,192, $219,600, $4,830,691, $18,851,317, $9,444,860, $95,045, $5,275,699, $10,161,458, $21,325,852, $5,948,238, $99,522, $100,417, $445,831, $22,227,356, $20,133,262, $16,740,154, $2,456,723, $442,218, $1,916,056, $5,202,843, $2,592,150, $8,901,966, $8,649,185, $136,710, $9,925,663, $598,011, $4,843,853, $2,473,457, $34,419, $455,687, $381,454, $3,064,717, $4,397,238, $5,180,600, $4,220,305, $17,788,183 and $10,100,241, respectively, totaling $1,290,669,338.

The country allocation in the Consolidated Schedule of Investments at December 31, 2022, was as follows:

---

| | |
|:---|:---|
| **Country** | **% of Total**<br>**Investments** |
|  Australia | 3.9 |
|  Belgium | 0.8 |
|  Brazil | 0.8 |
|  China | 0.4 |
|  France | 3.5 |
|  Germany | 4.2 |
|  Israel | 1.2 |
|  Italy | 1 |
|  Netherlands | 0.7 |
|  Norway | 1.9 |
|  Romania | 0.8 |
|  Spain | 0.4 |
|  Sweden | 1.8 |
|  United Kingdom | 5.3 |
|  United States | 73.3 |
|  | 100 |

---

------

AMG Pantheon Master Fund, LLC

Notes to Consolidated Schedule of Investments

December 31, 2022 (unaudited)

------

The following table summarizes the inputs used to value the Master Fund's investments by the fair value hierarchy levels as of December 31, 2022:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Investments**<br>**Valued at**<br>**NAV** | **Total** |
|  Investments |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Co-Investments |  |  | $83320936 | $618053284 | $701374220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Primary Private Investment Funds |  |  | 6967513 | 67855353 | 74822866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Secondary Private Investment Funds |  |  |  | 718377644 | 718377644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stock | $82484 |  |  |  | 82484 |
|  Short-Term Investments |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Investment Companies | 48676328 |  |  |  | 48676328 |
|  Total Investments | $48758812 |  | $90288449 | $1404286281 | $1543333542 |

---

The reconciliation of Level 3 investments is presented when the Master Fund had a significant amount of Level 3 investments at the beginning and/or end of the period in relation to net assets. The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Co-Investments** | **Primary Private**<br>**Investment**<br>**Funds** | **Secondary<br>Private<br>Investment<br>Funds** | **Total** |
|  Balance as of March 31, 2022 | $68566186 | $3224701 | $– $| 71790887 |
|  Purchases | 10484109 | 3798773 | – | 14282882 |
|  Sales & Distributions | (1810) | (59126) | – | (60936) |
|  Transfers into Level 3 |  |  | – |  |
|  Transfers out of Level 3 |  |  | – |  |
|  Net realized gain | 525 | 20451 | – | 20976 |
|  Net change in unrealized appreciation/depreciation | 4271926 | (17286) | – | 4254640 |
|  Balance as of December 31, 2022 | $83320936 | $6967513 | $– $| 90288449 |
|  Net change in unrealized appreciation/depreciation on investments held at December 31, 2022 | $4596120 | $(17286) | $– $| 4578834 |

---

------

AMG Pantheon Master Fund, LLC

Notes to Consolidated Schedule of Investments (continued)

------

The following table summarizes the quantitative inputs and assumptions used for items categorized in Level 3 of the fair value hierarchy as of December 31, 2022. The table below is not intended to be all inclusive, but rather provides information on the significant Level 3 inputs as they relate to the Master Fund's fair value measurements:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Quantitative Information about Level 3 Fair Value Measurements** | **Quantitative Information about Level 3 Fair Value Measurements** | **Quantitative Information about Level 3 Fair Value Measurements** | **Quantitative Information about Level 3 Fair Value Measurements** | | |
|  | **Fair Value as of**<br>**December 31,**<br>**2022** | **Valuation**<br>**Technique(s)** | **Unobservable**<br>**Input(s)** | **Range** | <br>**Average** | <br>**Impact to**<br>**Valuation**<br>**from an**<br>**Increase in**<br>**Input <sup>(a)</sup>** |
|  Co-Investments | $9965000 | Recent Round of<br>Financing | Recent round of<br>financing/<br>expected sale | N/A | N/A | Increase |
|  Co-Investments |  | Market<br>Comparables | Public Company<br>Multiples: |  |  |  |
|  | 54846 |  | Revenue | 19.00x-19.00x | 19.00x | Increase |
|  | 53473703 |  | EBITDA | 10.00x-31.25x | 15.88x | Increase |
|  | 438764 |  | Tower Cash Flow | 26.30x-26.30x | 26.30x | Increase |
|  Co-Investments | 7184635 | Guideline<br>Transaction<br>Multiples | EBITDA | 10.80x-28.80x | 15.23x | Increase |
|  Co-Investments | 12203988 | Discounted Cash<br>Flows | Discount Rate | 8.0%-20.0% | 12.1% | Decrease |
|  |  |  | Terminal Value | 14.00x-18.00x | 14.59x | Increase |
|  |  |  | Terminal Growth<br>Rate | 5.6%-7.5% | 5.9% | Increase |
|  Primary Private Investment Funds | 6884113 | Discounted Cash<br>Flows | Discount Rate | 8.5%-9.5% | 8.7% | Decrease |
|  Primary Private Investment Funds | 83400 | Recent Round of<br>Financing | Recent round of<br>financing /<br>expected sale | N/A | N/A | Increase |
|  Total | $90288449 |  |  |  |  |  |

---

<sup>(a)</sup> Represents the directional change in the fair value of the Level 3 investments that could have resulted from an increase in the corresponding input as of period end. A decrease to the unobservable input would have had the opposite effect. Significant changes in these inputs may have resulted in a significantly higher or lower fair value measurement at period end. 

------

AMG Pantheon Master Fund, LLC

Notes to Consolidated Schedule of Investments (continued)

------

**FAIR VALUE MEASUREMENTS** 

Equity securities traded on a domestic or international securities exchange are valued at the last quoted sale price, or, lacking any sales, at the last quoted bid price. Equity securities traded on an international securities exchange and equity securities traded on NASDAQ or in a U.S. or non-U.S. over-the-counter market are valued at the market's official closing price, or, if there are no trades on the applicable date, at the last quoted bid price. In addition, if the applicable market does not offer an official closing price or if the official closing price is not representative of the overall market, equity securities traded on an international securities exchange and equity securities traded in a non-U.S. over-the counter market are valued at the last quoted sales price. The Master Fund's listed equity investments are generally valued based on independent market quotations or prices or, if none, "evaluative" or other market based valuations provided by third-party pricing services.

Short-term debt obligations (debt obligations with maturities of one year or less at the time of issuance) that have 60 days or less remaining until maturity will be valued at amortized cost, provided that the amortized cost value is approximately the same as the fair value of the security valued without the use of amortized cost. Investments in other open-end registered investment companies are valued at their end of day net asset value per share.

For direct investments and certain co-investments in portfolio companies, the Fund primarily uses the market or income approach to estimate the fair value of private investments. The market approach utilizes prices and other relevant information generated by market transactions, type of security, size of the position, degree of liquidity, restrictions on the disposition, latest round of financing data, current financial position and operating results, among other factors.

Private equity investments, including primary and secondary investments in private equity, infrastructure and other private asset funds ("Investment Funds") and certain co-investments are generally based on the valuations provided by the general partners or managers of underlying fund investments as of the date investments are valued. If a valuation provided by general partners or managers of the underlying fund investments is not available as of the date investments are valued, the Master Fund will value the Investment Fund or co-investment using the latest valuation provided by the general partners or managers of the underlying fund investments adjusted for transaction and market activity, if applicable. Additionally, the Master Fund may utilize independent valuation firms to provide third-party valuation consulting services. The valuations provided by the general partners or managers typically reflect the fair value of the Master Fund's capital account balance of each Investment Fund, including unrealized gains and losses, as reported in the financial reports or statements of the respective Investment Fund. The Valuation Committee of the Investment Manager reviews the capital account balances and may adjust the value of each Master Fund investment.

------

AMG Pantheon Master Fund, LLC

Notes to Consolidated Schedule of Investments (continued)

------

The values assigned to investments that are fair valued are based on available information and do not necessarily represent amounts that might ultimately be realized in the future, since such amounts depend on future developments inherent in long-term investments. Because of the inherent uncertainty of valuation, those estimated values may differ significantly from the values that would have been used had a ready market for the investments existed, and the differences could be material. Pursuant to Rule 2a-5 under the Investment Company Act of 1940, the Board designated the Investment Manager as the Master Fund's Valuation Designee to perform the Master Fund's fair value determinations. The Board is presented with a monthly valuation update and a quarterly valuation report. Additionally, the Board receives updates on the Master Fund's valuation risks and is notified of any changes in valuation methodologies.

Accounting principles generally accepted in the United States of America ("U.S. GAAP") defines fair value as the price that a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP also establishes a framework for measuring fair value, and a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability. Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Master Fund. Unobservable inputs reflect the Master Fund's own assumptions about the assumptions that market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. Each investment is assigned a level based upon the observability of the inputs which are significant to the overall valuation.

The three-tier hierarchy of inputs is summarized below:

Level 1 – inputs are quoted prices in active markets for identical investments (e.g., listed equity securities, open-end investment companies)

Level 2 – other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market corroborated inputs) (e.g., debt securities, government securities, foreign currency exchange contracts, foreign securities utilizing international fair value pricing, broker-quoted securities, fair valued securities with observable inputs)

Level 3 – inputs are significant unobservable inputs (including the Master Fund's own assumptions used to determine the fair value of investments) (e.g., fair valued securities with unobservable inputs)

------

AMG Pantheon Master Fund, LLC

Notes to Consolidated Schedule of Investments (continued)

------

Changes in inputs or methodologies used for valuing investments may result in a transfer in or out of levels within the fair value hierarchy. The inputs or methodologies used for valuing investments may not necessarily be an indication of the risk associated with investing in those investments.

**INVESTMENTS IN PRIVATE EQUITY AND INVESTMENT FUNDS** 

Private equity investments are typically made in non-public companies through privately negotiated transactions. Private equity investments may be structured using a range of financial instruments, including common and preferred equity, convertible securities, subordinated debt and warrants or other derivatives.

Investment Funds, often organized as limited partnerships, are the most common vehicles for making private equity investments. In such Investment Funds, investors usually commit to provide up to a certain amount of capital when requested by the Investment Fund's manager or general partner. The general partner then makes private equity investments on behalf of the Investment Fund. The Investment Fund's investments are usually realized, or "exited", after a three- to seven-year holding period through a private sale, an initial public offering (IPO) or a recapitalization. Proceeds of such exits are then distributed to the Investment Fund's investors. The Investment Funds themselves typically have a term of ten to twelve years. The Investment Funds in which the Master Fund invests may charge a management fee of 1.00% - 2.00% and approximately 20% of net profits as a carried interest allocation, subject to a preferred return and a claw back. Detailed information about the Investment Funds' portfolios is not publicly available.

Some of the investments that the Investment Manager will consider with respect to the Master Fund include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Primary Private Investment Funds: Primary investments (primaries) are interests or investments in newly
established Investment Funds that are typically acquired by way of subscription during their fundraising period. Primary investors subscribe for interests during an initial fundraising period, and their capital commitments are then used to fund
investments in a number of individual operating companies during a defined investment period. The investments of the fund are usually unknown at the time of commitment, and investors typically have little or no ability to influence the investments
that are made during the fund's life.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Secondary Private Investment Funds: Secondary investments (secondaries) are interests in existing private equity
funds that are typically acquired from existing investors in such Investment Funds in privately negotiated transactions, typically after the end of the private equity fund's fundraising period.

------

AMG Pantheon Master Fund, LLC

Notes to Consolidated Schedule of Investments (continued)

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Direct Investments/Co-Investments: Direct investments involve acquiring
(directly or indirectly) an interest in securities issued by an operating company. Co-investments represent opportunities to separately invest in specific portfolio companies that are otherwise represented in
an Investment Fund. Such investments are typically made as co-investments alongside Investment Funds, and are usually structured such that the lead investor holds a controlling interest. Co-investments are typically offered to Investment Fund investors when the Investment Fund manager believes that there is an attractive investment for the Investment Fund but the total size of the potential holding
exceeds the targeted size for the Investment Fund. Direct investments and co-investments, unlike investments in Investment Funds, generally do not bear an additional layer of fees and bear significantly
reduced fees.

A listing of the Co-Investments, Primary Private Investment Funds and Secondary Private Investment Funds held by the Master Fund and their attributes, as of December 31, 2022, is shown in the table below.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investment Category** | **Fair Value** | **Unfunded**<br>**Commitments** | **Remaining**<br>**life\*** | **Redemption**<br>**frequency** | **Notice**<br>**(In days)** | **Redemption**<br>**Restrictions** |
|  Buyout <sup>(a)</sup>  | $1116875607 | $200060843 | 1-10 years | Not Redeemable | N/A | N/A |
|  Growth Equity <sup>(b)</sup>  | 173885506 | 43122812 | 1-10 years | Not Redeemable | N/A | N/A |
|  Infrastructure <sup>(c)</sup>  | 84524605 | 14161563 | 1-12 years | Not Redeemable | N/A | N/A |
|  Private Debt <sup>(d)</sup>  | 39365415 | 8210269 | 1-10 years | Not Redeemable | N/A | N/A |
|  Real Assets <sup>(e)</sup>  | 11487535 | 6355796 | 1-10 years | Not Redeemable | N/A | N/A |
|  Special Situations <sup>(f)</sup>  | 29437796 | 6387763 | 1-10 years | Not Redeemable | N/A | N/A |
|  Venture <sup>(g)</sup>  | 38998266 | 23826109 | 1-10 years | Not Redeemable | N/A | N/A |
|  Total | $1494574730 | $302125155 |  |  |  |  |

---

<sup>(a)</sup> Funds that acquire controlling interests in companies with a view towards later selling those companies or taking them public.

<sup>(b)</sup> Funds that invest in later-stage, pre-IPO companies.

<sup>(c)</sup> Funds that generally invest in long-term assets that provide stable cash flows with growth initiatives.

<sup>(d)</sup> Funds that invest in senior secured lending, mezzanine financing, as well as more opportunistic debt strategies such as distressed for control.

<sup>(e)</sup> Private equity funds that invest in target investments in infrastructure, renewables & energy infrastructure, natural resources, and asset-backed strategies.

<sup>(f)</sup> Particular circumstances that influence investment based on the situation, rather than its underlying fundamentals.

<sup>(g)</sup> Investments in new and emerging companies are usually classified as venture capital.

\* Co-Investments do not have contractual lives and generally terminate after the underlying investment is sold. Years shown below are reflective of the remaining lives of Primary Private Investment Funds and Secondary Private Investment Funds.

------

## 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 Pantheon Master Fund, LLC

- **b. Investment Company Act file number:** 811-22972

- **c. CIK number of Registrant:** 0001609212

- **d. LEI of Registrant:** 5493005VLS1G1FKDZC59

- **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:** 2032993500

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

- **a. Name of Series:** AMG Pantheon Master Fund, LLC

- **c. LEI of Series:** N/A

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

- **a. Date of fiscal year-end:** 2023-03-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $1546578909.59

**Total Liabilities:** $9686292.35

**Net Assets:** $1536892617.24

**Cash Not Reported:** $111445.73

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C001701101 | -0.65%               | 2.46%                | 0.85%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2435175.50              | $-10285462.87                              |
| Month 2  | $1978555.85              | $33734464.19                               |
| Month 3  | $2962897.47              | $8972379.38                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Providence Equity Partners VI, L.P.                          | Providence Equity Partners VI, L.P.                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $24681.00     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Francisco Partners III, L.P.                                 | Francisco Partners III, L.P.                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $83831.00     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| WP-LH Co-Invest, L.P.                                        | WP-LH Co-Invest, L.P.                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $542412.00    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| 1901 Partners LP                                             | 1901 Partners LP                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $60968.00     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| T-VI Co-Invest-A                                             | T-VI Co-Invest-A                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $2217634.00   | 0.14%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TPG Partners VI, L.P.                                        | TPG Partners VI, L.P.                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $56245.00     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Calera Capital Partners V L.P.                               | Calera Capital Partners V L.P.                               | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $99079.00     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TPG Partners V, L.P.                                         | TPG Partners V, L.P.                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $244.00       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Digital Bridge Small Cell Holdings, LLC                      | Digital Bridge Small Cell Holdings, LLC                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |        31 | NS      | $548455.00    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Quantum Parallel Partners VI-C(A), LP                        | Quantum Parallel Partners VI-C(A), LP                        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $645649.00    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Banc Fund IX L.P.                                            | Banc Fund IX L.P.                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $152839.00    | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TPG VII Renown Co-Invest I, L.P.                             | TPG VII Renown Co-Invest I, L.P.                             | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $571256.00    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PSG LM Co-Investors L.P.                                     | PSG LM Co-Investors L.P.                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $11815500.00  | 0.77%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GSO Capital Opportunities Fund III, L.P.                     | GSO Capital Opportunities Fund III, L.P.                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $726544.00    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TKC Investment Holdings, LLC                                 | TKC Investment Holdings, LLC                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $3140989.00   | 0.20%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ESCP PPG Holdings, LLC                                       | ESCP PPG Holdings, LLC                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   2171429 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Diamond LS I LP                                              | Diamond LS I LP                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $2619588.00   | 0.17%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TVG-I-E-AEG Holdings                                         | TVG-I-E-AEG Holdings                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $1981303.00   | 0.13%             |  |  |  | Yes           |                  3 | On Loan: No      |
| AP VIII Prime Security Services Holdings, L.P.               | AP VIII Prime Security Services Holdings, L.P.               | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $1726397.00   | 0.11%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Incline Aviation I                                           | Incline Aviation I                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $1352973.00   | 0.09%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Ares Corporate Opportunities Fund IV, L.P.                   | Ares Corporate Opportunities Fund IV, L.P.                   | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $952492.00    | 0.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| LEP Prelude Co-Invest, L.P.                                  | LEP Prelude Co-Invest, L.P.                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $4761064.00   | 0.31%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SDA Investors Group, LLC                                     | SDA Investors Group, LLC                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $4854691.00   | 0.32%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CB Ignite Holdings, LLC                                      | CB Ignite Holdings, LLC                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $4203992.00   | 0.27%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SYFS Co-INVEST, LLC                                          | SYFS Co-INVEST, LLC                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $944964.00    | 0.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| T-VII Mitchell/Genex Co-Invest, L.P.                         | T-VII Mitchell/Genex Co-Invest, L.P.                         | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $4260303.00   | 0.28%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BroadRiver III, L.P.                                         | BroadRiver III, L.P.                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $3033135.00   | 0.20%             |  |  |  | Yes           |                  3 | On Loan: No      |
| 3i Venice SCSp                                               | 3i Venice SCSp                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | GB        |         0 | OU      | $10729903.00  | 0.70%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Apollo DSB Co-Invest, L.P                                    | Apollo DSB Co-Invest, L.P                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $10105040.00  | 0.66%             |  |  |  | Yes           |                  3 | On Loan: No      |
| H&F Flashdance Partners I, L.P.                              | H&F Flashdance Partners I, L.P.                              | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $1200915.00   | 0.08%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Quantum QEP VII Co-Investment Fund, L.P.                     | Quantum QEP VII Co-Investment Fund, L.P.                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $1845010.00   | 0.12%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Incline B Aviation Aladdin Co-Investment Limited Partnership | Incline B Aviation Aladdin Co-Investment Limited Partnership | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $2530000.00   | 0.16%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Abry Advanced Securities Fund IV, L.P.                       | Abry Advanced Securities Fund IV, L.P.                       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $2871757.00   | 0.19%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Epsilon Topco Limited                                        | Epsilon Topco Limited                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $2242761.00   | 0.15%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Apax France VIII-A FCPR                                      | Apax France VIII-A FCPR                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | FR        |         0 | OU      | $827289.00    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| AIX Pride Syndication L.P.                                   | AIX Pride Syndication L.P.                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $10242375.00  | 0.67%             |  |  |  | Yes           |                  3 | On Loan: No      |
| APH CUBS Co-invest LP                                        | APH CUBS Co-invest LP                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $7679325.00   | 0.50%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TCP DJR Co-Invest, L.P                                       | TCP DJR Co-Invest, L.P                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $4663052.00   | 0.30%             |  |  |  | Yes           |                  3 | On Loan: No      |
| JP Co-Invest, LLC                                            | JP Co-Invest, LLC                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $1792408.00   | 0.12%             |  |  |  | Yes           |                  3 | On Loan: No      |
| EQT Deck Co-Investment Limited Partnership                   | EQT Deck Co-Investment Limited Partnership                   | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $26564.00     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TPG Clarinet Co-Invest, LP                                   | TPG Clarinet Co-Invest, LP                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | AU        |         0 | OU      | $5754321.00   | 0.37%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Hellman & Friedman Capital Partners VII, L.P.                | Hellman & Friedman Capital Partners VII, L.P.                | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $139134.00    | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Insight Venture Partners IX, L.P.                            | Insight Venture Partners IX, L.P.                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $7394294.00   | 0.48%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Aztiq Fund I                                                 | Aztiq Fund I                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $8699729.00   | 0.57%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Hg Vivaldi 2 Co-Invest L.P.                                  | Hg Vivaldi 2 Co-Invest L.P.                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | NO        |         0 | OU      | $4835172.00   | 0.31%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Hg Spider Co-Invest L.P.                                     | Hg Spider Co-Invest L.P.                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | GB        |         0 | OU      | $5499257.00   | 0.36%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Insight RF Holdings, LLC                                     | Insight RF Holdings, LLC                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $11918350.00  | 0.78%             |  |  |  | Yes           |                  3 | On Loan: No      |
| RCP Artemis Co-Invest LP                                     | RCP Artemis Co-Invest LP                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $12749576.00  | 0.83%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Avenue Pantheon Broadway Fund, L.P.                          | Avenue Pantheon Broadway Fund, L.P.                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | GB        |         0 | OU      | $1719743.00   | 0.11%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Vistria AP Investment LLC                                    | Vistria AP Investment LLC                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $7271819.00   | 0.47%             |  |  |  | Yes           |                  3 | On Loan: No      |
| WP Triton Investment, L.P.                                   | WP Triton Investment, L.P.                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | GB        |         0 | OU      | $1892812.00   | 0.12%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TPG Growth Gator GenPar II, L.P.                             | TPG Growth Gator GenPar II, L.P.                             | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $3584743.00   | 0.23%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PAI Strategic Partnerships SCSp                              | PAI Strategic Partnerships SCSp                              | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | GB        |         0 | OU      | $6774790.00   | 0.44%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Dreyfus Institutional Preferred Government Money Market Fund | Dreyfus Institutional Preferred Government Money Market Fund | CUSIP: 26200X100<br>LEI: 5493001BRBYRXP4A4K56 | Long             | STIV             | RF                | US        |  48676328 | NS      | $48676328.00  | 3.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Armis Investors Holdings, L.P.                               | Armis Investors Holdings, L.P.                               | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $4315849.00   | 0.28%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Archer Capital GF Trust 2B                                   | Archer Capital GF Trust 2B                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | AU        |         0 | OU      | $1255549.00   | 0.08%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Hg Athena Co-Invest L.P.                                     | Hg Athena Co-Invest L.P.                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | GB        |         0 | OU      | $4794472.00   | 0.31%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Archer Capital Trust 5B                                      | Archer Capital Trust 5B                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | AU        |         0 | OU      | $560108.00    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Allegro Private Equity Fund II, L.P.                         | Allegro Private Equity Fund II, L.P.                         | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | AU        |         0 | OU      | $2029244.00   | 0.13%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Incline A Aviation Co-Investment Fund                        | Incline A Aviation Co-Investment Fund                        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $2073422.00   | 0.13%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Idinvest Growth Secondary SLP                                | Idinvest Growth Secondary SLP                                | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | FR        |         0 | OU      | $6171651.00   | 0.40%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Crescent Credit Opportunities Fund AIF, SCSp                 | Crescent Credit Opportunities Fund AIF, SCSp                 | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Logan Co-Invest, L.P.                                        | Logan Co-Invest, L.P.                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $4963326.00   | 0.32%             |  |  |  | Yes           |                  3 | On Loan: No      |
| P-O Senior Loan Opportunity Fund L.P.                        | P-O Senior Loan Opportunity Fund L.P.                        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $82743.00     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Ocean Alliance III, L.P.                                     | Ocean Alliance III, L.P.                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | CN        |         0 | OU      | $5946995.00   | 0.39%             |  |  |  | Yes           |                  3 | On Loan: No      |
| H&F Arrow 2, L.P.                                            | H&F Arrow 2, L.P.                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $250894.00    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Hg Secular Co-Invest L.P.                                    | Hg Secular Co-Invest L.P.                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $4006834.00   | 0.26%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Greenbriar Equity Fund III, L.P.                             | Greenbriar Equity Fund III, L.P.                             | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $1615593.00   | 0.11%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ABRY Partners VI, L.P.                                       | ABRY Partners VI, L.P.                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $11347.00     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CapVest Strategic Opportunities 2 SCSp                       | CapVest Strategic Opportunities 2 SCSp                       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | GB        |         0 | OU      | $4348827.00   | 0.28%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Alpine Investors TEAM CV Feeder, LLC                         | Alpine Investors TEAM CV Feeder, LLC                         | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $6609265.00   | 0.43%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CBPE Capital Fund IX B, L.P.                                 | CBPE Capital Fund IX B, L.P.                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | GB        |         0 | OU      | $3235220.00   | 0.21%             |  |  |  | Yes           |                  3 | On Loan: No      |
| APIA OPUS FPCI                                               | APIA OPUS FPCI                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | FR        |         0 | OU      | $3826591.00   | 0.25%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Hygee International SARL                                     | Hygee International SARL                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | FR        |         0 | OU      | $4503513.00   | 0.29%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Medicxi Secondary I, L.P.                                    | Medicxi Secondary I, L.P.                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | GB        |         0 | OU      | $2786077.00   | 0.18%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Samson Hockey 2, L.P.                                        | Samson Hockey 2, L.P.                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $228233.00    | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Samson Brunello 2, L.P.                                      | Samson Brunello 2, L.P.                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $149579.00    | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Ergon svt Long Term Value Fund SCSp                          | Ergon svt Long Term Value Fund SCSp                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | DE        |         0 | OU      | $4299889.00   | 0.28%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MC Private Equity Partners I-A LP                            | MC Private Equity Partners I-A LP                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $5115943.00   | 0.33%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Abry Advanced Securities Fund III, L.P.                      | Abry Advanced Securities Fund III, L.P.                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $5542856.00   | 0.36%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Antin Infrastructure Partners III-B SCSp                     | Antin Infrastructure Partners III-B SCSp                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | ES        |         0 | OU      | $5063531.00   | 0.33%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Roark Capital Partners II Sidecar LP                         | Roark Capital Partners II Sidecar LP                         | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $7615210.00   | 0.50%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ABRY Partners VII, L.P.                                      | ABRY Partners VII, L.P.                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $319808.00    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Solace Capital Special Situations Fund, L.P.                 | Solace Capital Special Situations Fund, L.P.                 | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $13459960.00  | 0.88%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ABRY Partners IX, L.P.                                       | ABRY Partners IX, L.P.                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $2046541.00   | 0.13%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ABRY Heritage Partners, L.P.                                 | ABRY Heritage Partners, L.P.                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $286706.00    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ABRY Senior Equity III, L.P.                                 | ABRY Senior Equity III, L.P.                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $9259.00      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ABRY Senior Equity IV, L.P.                                  | ABRY Senior Equity IV, L.P.                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $230651.00    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ABRY Senior Equity V, L.P.                                   | ABRY Senior Equity V, L.P.                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $1885652.00   | 0.12%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Incline Aviation Fund II                                     | Incline Aviation Fund II                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $5531140.00   | 0.36%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Icon Partners III, L.P.                                      | Icon Partners III, L.P.                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $7007111.00   | 0.46%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MIC Capital Partners III Parallel (Cayman) LP                | MIC Capital Partners III Parallel (Cayman) LP                | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $4417267.00   | 0.29%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ISH Co-Invest Aggregator, L.P.                               | ISH Co-Invest Aggregator, L.P.                               | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $5985461.00   | 0.39%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Help HP SCF Investor, LP                                     | Help HP SCF Investor, LP                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $9579100.00   | 0.62%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Icon Partners IV, L.P.                                       | Icon Partners IV, L.P.                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $16935977.00  | 1.10%             |  |  |  | Yes           |                  3 | On Loan: No      |
| APIA BIM FPCI                                                | APIA BIM FPCI                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | FR        |         0 | OU      | $6456945.00   | 0.42%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ABRY Partners VIII, L.P.                                     | ABRY Partners VIII, L.P.                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $334701.00    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Tene GPL Limited Partnership                                 | Tene GPL Limited Partnership                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | IL        |         0 | OU      | $18007540.00  | 1.17%             |  |  |  | Yes           |                  3 | On Loan: No      |
| LEP Opportunities I, L.P.                                    | LEP Opportunities I, L.P.                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $16342759.00  | 1.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ECI 11 FP Limited                                            | ECI 11 FP Limited                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | GB        |         0 | OU      | $6750765.00   | 0.44%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Golden Aggregator, L.P.                                      | Golden Aggregator, L.P.                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $22589812.00  | 1.47%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PSG Government Brands II Co-Invest L.P.                      | PSG Government Brands II Co-Invest L.P.                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $11773723.00  | 0.77%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Eagle Investment Trust                                       | Eagle Investment Trust                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | AU        |         0 | OU      | $21473942.00  | 1.40%             |  |  |  | Yes           |                  3 | On Loan: No      |
| IVP XI Celestial Co-Invest LP                                | IVP XI Celestial Co-Invest LP                                | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $8502379.00   | 0.55%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ESO Fund VII SCSp SICAV-RAIF                                 | ESO Fund VII SCSp SICAV-RAIF                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | GB        |         0 | OU      | $6224087.00   | 0.40%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TPG Growth V, L.P.                                           | TPG Growth V, L.P.                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $18284387.00  | 1.19%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Warburg Pincus Private Equity XII, L.P.                      | Warburg Pincus Private Equity XII, L.P.                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $6183872.00   | 0.40%             |  |  |  | Yes           |                  3 | On Loan: No      |
| APIA TRILOGY FPCI                                            | APIA TRILOGY FPCI                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | BE        |         0 | OU      | $12381618.00  | 0.81%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Pennantpark Senior Credit Fund Cayman Levered Feeder, LP     | Pennantpark Senior Credit Fund Cayman Levered Feeder, LP     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $9297800.00   | 0.60%             |  |  |  | Yes           |                  3 | On Loan: No      |
| IVP XII DK (BLOCKED) Co-Invest, L.P.                         | IVP XII DK (BLOCKED) Co-Invest, L.P.                         | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $12958371.00  | 0.84%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Olive Investments Limited                                    | Olive Investments Limited                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $14013043.00  | 0.91%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Hg Riley Co-Invest L.P.                                      | Hg Riley Co-Invest L.P.                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $9692619.00   | 0.63%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TiaraMed LP                                                  | TiaraMed LP                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | RO        |         0 | OU      | $12496774.00  | 0.81%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Water Street Orion Fund, L.P.                                | Water Street Orion Fund, L.P.                                | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $19151500.00  | 1.25%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Berkshire Fund X-A, L.P.                                     | Berkshire Fund X-A, L.P.                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $841240.00    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GIP Aquarius Fund, SCSp                                      | GIP Aquarius Fund, SCSp                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | BR        |         0 | OU      | $12200855.00  | 0.79%             |  |  |  | Yes           |                  3 | On Loan: No      |
| One Equity Partners VI, L.P.                                 | One Equity Partners VI, L.P.                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $1969963.00   | 0.13%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Onex ISO Co-Invest LP                                        | Onex ISO Co-Invest LP                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $17046956.00  | 1.11%             |  |  |  | Yes           |                  3 | On Loan: No      |
| HGGC Fund IV                                                 | HGGC Fund IV                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $12241320.00  | 0.80%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CD&R Value Building Partners I, L.P.                         | CD&R Value Building Partners I, L.P.                         | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $31667180.00  | 2.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SignalFire Opportunities Fund, L.P. - Series 11              | SignalFire Opportunities Fund, L.P. - Series 11              | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $5064424.00   | 0.33%             |  |  |  | Yes           |                  3 | On Loan: No      |
| DETZ Co-Investment Aggregator, L.P.                          | DETZ Co-Investment Aggregator, L.P.                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $17434787.00  | 1.13%             |  |  |  | Yes           |                  3 | On Loan: No      |
| North Haven Capital Partners CV-A LP                         | North Haven Capital Partners CV-A LP                         | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $20396100.00  | 1.33%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SKCP V Sirona Co-Invest, L.P.                                | SKCP V Sirona Co-Invest, L.P.                                | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | FR        |         0 | OU      | $14096916.00  | 0.92%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Pegasus WSJLL Fund, L.P.                                     | Pegasus WSJLL Fund, L.P.                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $20361500.00  | 1.32%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Warburg Pincus Private Equity XII, L.P.                      | Warburg Pincus Private Equity XII, L.P.                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $5260169.00   | 0.34%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TPG Asia V, L.P.                                             | TPG Asia V, L.P.                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $579293.00    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Insight Ventures Partners (Cayman) X, L.P.                   | Insight Ventures Partners (Cayman) X, L.P.                   | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $13443104.00  | 0.87%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SignalFire Breakout Fund III, L.P.                           | SignalFire Breakout Fund III, L.P.                           | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $3087887.00   | 0.20%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SignalFire Fund IV, L.P.                                     | SignalFire Fund IV, L.P.                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $1424296.00   | 0.09%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Silver Lake Partners V, L.P.                                 | Silver Lake Partners V, L.P.                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $13126272.00  | 0.85%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SignalFire XIR Fund, L.P.                                    | SignalFire XIR Fund, L.P.                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $2034688.00   | 0.13%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BC Partners Aqua Co-Investment LP                            | BC Partners Aqua Co-Investment LP                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | DE        |         0 | OU      | $9547898.00   | 0.62%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TPG Partners VII, L.P.                                       | TPG Partners VII, L.P.                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $2238740.00   | 0.15%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TPG Asia VI, L.P.                                            | TPG Asia VI, L.P.                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $5715363.00   | 0.37%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TPG Partners VIII, L.P                                       | TPG Partners VIII, L.P                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $4551053.00   | 0.30%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TPG Partners VI, L.P.                                        | TPG Partners VI, L.P.                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $660980.00    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ACON Equity Partners 3.5, L.P.                               | ACON Equity Partners 3.5, L.P.                               | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $2604137.00   | 0.17%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Siris Partners III, L.P.                                     | Siris Partners III, L.P.                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $2203366.00   | 0.14%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ACON Equity Partners IV, L.P.                                | ACON Equity Partners IV, L.P.                                | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $5170736.00   | 0.34%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Industrial Opportunity Partners IV, L.P.                     | Industrial Opportunity Partners IV, L.P.                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $697347.00    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BC European Capital XI                                       | BC European Capital XI                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | GB        |         0 | OU      | $9308043.00   | 0.61%             |  |  |  | Yes           |                  3 | On Loan: No      |
| RL Co-investor Aggregator II L.P.                            | RL Co-investor Aggregator II L.P.                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $21802658.00  | 1.42%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PSG Encore-A L.P.                                            | PSG Encore-A L.P.                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $7908784.00   | 0.51%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Carlyle Global Infrastructure Opportunity Fund, L.P.         | Carlyle Global Infrastructure Opportunity Fund, L.P.         | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $10193243.00  | 0.66%             |  |  |  | Yes           |                  3 | On Loan: No      |
| APIA DINO FPCI                                               | APIA DINO FPCI                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | NL        |         0 | OU      | $10848557.00  | 0.71%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BC Partners Clay Co-Investment L.P.                          | BC Partners Clay Co-Investment L.P.                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | DE        |         0 | OU      | $16199358.00  | 1.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| KKR Cavalry Co-Invest L.P.                                   | KKR Cavalry Co-Invest L.P.                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $7337233.00   | 0.48%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Verdane Co-Invest Papirfly AB                                | Verdane Co-Invest Papirfly AB                                | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | NO        |         0 | OU      | $4031276.00   | 0.26%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SignalFire Opportunities Fund, L.P.                          | SignalFire Opportunities Fund, L.P.                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $4957428.00   | 0.32%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Nordic Capital CF1 Alpha, L.P.                               | Nordic Capital CF1 Alpha, L.P.                               | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | NO        |         0 | OU      | $20908900.00  | 1.36%             |  |  |  | Yes           |                  3 | On Loan: No      |
| West Street Global Infrastructure Partners III, L.P.         | West Street Global Infrastructure Partners III, L.P.         | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $8872519.00   | 0.58%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ACP Accelerant Co-Invest, LLC                                | ACP Accelerant Co-Invest, LLC                                | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $23680884.00  | 1.54%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Oaktree Special Situations Fund, L.P.                        | Oaktree Special Situations Fund, L.P.                        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $1734318.00   | 0.11%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Siris Partners IV, L.P.                                      | Siris Partners IV, L.P.                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $3012419.00   | 0.20%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Clearview Capital Mezzanine Fund I, L.P.                     | Clearview Capital Mezzanine Fund I, L.P.                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $769762.00    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Altor Fund V AB                                              | Altor Fund V AB                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | SE        |         0 | OU      | $3985343.00   | 0.26%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Housatonic Equity Investors VI, L.P.                         | Housatonic Equity Investors VI, L.P.                         | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $9583522.00   | 0.62%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Hosen FCV I, L.P.                                            | Hosen FCV I, L.P.                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | AU        |         0 | OU      | $29589867.00  | 1.93%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TPG Growth V Amplifier CI, L.P.                              | TPG Growth V Amplifier CI, L.P.                              | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $13490904.00  | 0.88%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Berkshire Fund VI L.P.                                       | Berkshire Fund VI L.P.                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $1157966.00   | 0.08%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Housatonic Equity Investors V, L.P.                          | Housatonic Equity Investors V, L.P.                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $1624677.00   | 0.11%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Clearview Capital Fund III, L.P.                             | Clearview Capital Fund III, L.P.                             | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $1053918.00   | 0.07%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Siris Partners II, L.P.                                      | Siris Partners II, L.P.                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $298709.00    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Blackstone Capital Partners VI                               | Blackstone Capital Partners VI                               | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $303262.00    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Samson Shield 2, L.P.                                        | Samson Shield 2, L.P.                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $417418.00    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Thomas H. Lee Equity Fund VIII, L.P.                         | Thomas H. Lee Equity Fund VIII, L.P.                         | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $140807.00    | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Roark Capital Partners CF LP                                 | Roark Capital Partners CF LP                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $22905154.00  | 1.49%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Berkshire Fund IX Coinvestment Fund L.P.                     | Berkshire Fund IX Coinvestment Fund L.P.                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $2619872.00   | 0.17%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Industrial Opportunity Partners III                          | Industrial Opportunity Partners III                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $6652422.00   | 0.43%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Berkshire Fund VIII L.P.                                     | Berkshire Fund VIII L.P.                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $2380447.85   | 0.15%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Industrial Opportunity Partners II                           | Industrial Opportunity Partners II                           | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $305877.00    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Battery Ventures Select Fund II, L.P.                        | Battery Ventures Select Fund II, L.P.                        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $712979.00    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Siris Partners III, L.P.                                     | Siris Partners III, L.P.                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $5868787.00   | 0.38%             |  |  |  | Yes           |                  3 | On Loan: No      |
| KKR Mezzanine Partners I L.P.                                | KKR Mezzanine Partners I L.P.                                | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $472591.00    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Altor Fund III Ltd. Partnership                              | Altor Fund III Ltd. Partnership                              | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | SE        |         0 | OU      | $1058663.00   | 0.07%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Altor Fund IV AB                                             | Altor Fund IV AB                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | SE        |         0 | OU      | $2704279.00   | 0.18%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Marwyn Value Investors II L.P.                               | Marwyn Value Investors II L.P.                               | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | ES        |         0 | OU      | $386846.00    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Clearview Capital Fund IV, L.P.                              | Clearview Capital Fund IV, L.P.                              | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $5980232.00   | 0.39%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PSC III G, L.P.                                              | PSC III G, L.P.                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | GB        |         0 | OU      | $4984237.00   | 0.32%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Silver Oak Services Fund IV, L.P.                            | Silver Oak Services Fund IV, L.P.                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $2814104.00   | 0.18%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Project Alpine Co-Invest Fund, L.P.                          | Project Alpine Co-Invest Fund, L.P.                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $41247972.00  | 2.68%             |  |  |  | Yes           |                  3 | On Loan: No      |
| HT Global Co-investment, L.P. 2                              | HT Global Co-investment, L.P. 2                              | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | IN        |         0 | OU      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PSG Toro Co-Investor L.P.                                    | PSG Toro Co-Investor L.P.                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $464.00       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Base10 Advancement Initiative IH I, L.P.                     | Base10 Advancement Initiative IH I, L.P.                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $4967000.00   | 0.32%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Banc Fund VIII L.P.                                          | Banc Fund VIII L.P.                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| RREF I SPV, L.P.                                             | RREF I SPV, L.P.                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $8638829.00   | 0.56%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Digital Bridge U.S. Tower Holdings, LLC                      | Digital Bridge U.S. Tower Holdings, LLC                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Marwyn Value Investors II Co-Invest                          | Marwyn Value Investors II Co-Invest                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | ES        |         0 | OU      | $155378.00    | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Mercury Co-Investment Fund 2, LP                             | Mercury Co-Investment Fund 2, LP                             | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Calera Capital Partners IV L.P.                              | Calera Capital Partners IV L.P.                              | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Oaktree Ports American Fund LP                               | Oaktree Ports American Fund LP                               | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $284634.00    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Five Arrows Principal Investments IV SCSp                    | Five Arrows Principal Investments IV SCSp                    | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | GB        |         0 | OU      | $4045093.00   | 0.26%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Berkshire Fund VII, L.P.                                     | Berkshire Fund VII, L.P.                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $159986.00    | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Oak HC/FT TB SPV B, LLC                                      | Oak HC/FT TB SPV B, LLC                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Berkshire Fund IX, L.P.                                      | Berkshire Fund IX, L.P.                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $6651267.00   | 0.43%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Project Hotel California Co-Invest Fund, L.P.                | Project Hotel California Co-Invest Fund, L.P.                | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $33806200.00  | 2.20%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Battery Ventures XIV, L.P.                                   | Battery Ventures XIV, L.P.                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $911473.00    | 0.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ECP Calpine Continuation Fund, LP                            | ECP Calpine Continuation Fund, LP                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $29861100.00  | 1.94%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TPG Growth V Melody CI, Limited Partnership                  | TPG Growth V Melody CI, Limited Partnership                  | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | IT        |         0 | OU      | $15000000.00  | 0.98%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ACOF IV ATD Co-Invest LP                                     | ACOF IV ATD Co-Invest LP                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| H.I.G. Pixelle Specialty Solutions Co-Investment, L.P.       | H.I.G. Pixelle Specialty Solutions Co-Investment, L.P.       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $7666742.00   | 0.50%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SGP II CF Feeder, L.P.                                       | SGP II CF Feeder, L.P.                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $23506674.00  | 1.53%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GGV (ET) LLC                                                 | GGV (ET) LLC                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $4921000.00   | 0.32%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Five Arrows Galliera Co-Invest Fund SCSp                     | Five Arrows Galliera Co-Invest Fund SCSp                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | FR        |         0 | OU      | $18376658.00  | 1.20%             |  |  |  | Yes           |                  3 | On Loan: No      |
| RL Co-investor Aggregator L.P.                               | RL Co-investor Aggregator L.P.                               | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $10394000.00  | 0.68%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Base10 Partners I, L.P.                                      | Base10 Partners I, L.P.                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $6747164.00   | 0.44%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Hg Vibranium Co-Invest L.P.                                  | Hg Vibranium Co-Invest L.P.                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | SE        |         0 | OU      | $20256400.00  | 1.32%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Aquarian Insurance Holdings                                  | Aquarian Insurance Holdings                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $25758000.00  | 1.68%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Vestwell                                                     | Vestwell                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $4998000.00   | 0.33%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Lorient Peregrine Investment LP                              | Lorient Peregrine Investment LP                              | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $20000000.00  | 1.30%             |  |  |  | Yes           |                  3 | On Loan: No      |
| DPE Continuation Fund I                                      | DPE Continuation Fund I                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | DE        |         0 | OU      | $34288390.00  | 2.23%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Sequoia Financial Group                                      | Sequoia Financial Group                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $19972395.00  | 1.30%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Redpoint IX                                                  | Redpoint IX                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $83400.00     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| West Street Infrastructure Partners IV (GSIP)                | West Street Infrastructure Partners IV (GSIP)                | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $423292.00    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Carlyle Renewable and Sustainable Energy Fund II             | Carlyle Renewable and Sustainable Energy Fund II             | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $589757.00    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Linden Opportunities Fund, L.P.                              | Linden Opportunities Fund, L.P.                              | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $12226800.00  | 0.80%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Global Infrastructure Partners II                            | Global Infrastructure Partners II                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | GB        |         0 | OU      | $8918479.00   | 0.58%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Global Infrastructure Partners III                           | Global Infrastructure Partners III                           | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $2323941.00   | 0.15%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Graham Partners OptConnect Continuation Fund Parallel        | Graham Partners OptConnect Continuation Fund Parallel        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $31442448.00  | 2.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| NetSPI                                                       | NetSPI                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $18794000.00  | 1.22%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TransDigm Group Inc                                          | TransDigm Group Inc                                          | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       131 | NS      | $82484.15     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-28

**Name of Applicant:** AMG Pantheon Master Fund, LLC

**Signature:** Thomas G. Disbrow

**Name of Signer:** Thomas G. Disbrow

**Title:** Treasurer