# EDGAR Filing Document

**Accession Number:** 0001866278
**File Stem:** 0001752724-23-030002
**Filing Date:** 2023-2
**Character Count:** 102530
**Document Hash:** 7c15f6035a3a9709c64d4e32d3161293
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-030002.hdr.sgml**: 20230221

**ACCESSION NUMBER**: 0001752724-23-030002

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230221

**DATE AS OF CHANGE**: 20230221

**PERIOD START**: 20230930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Atlas U.S. Tactical Income Fund
- **CENTRAL INDEX KEY:** 0001866278
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** PR
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23705
- **FILM NUMBER:** 23645780

**BUSINESS ADDRESS:**
- **STREET 1:** BUCHANAN OFFICE CENTER, ROAD 165 #40
- **STREET 2:** SUITE 201
- **CITY:** GUAYNABO
- **STATE:** PR
- **ZIP:** 00968
- **BUSINESS PHONE:** 787-781-1301

**MAIL ADDRESS:**
- **STREET 1:** BUCHANAN OFFICE CENTER, ROAD 165 #40
- **STREET 2:** SUITE 201
- **CITY:** GUAYNABO
- **STATE:** PR
- **ZIP:** 00968

## Series and Classes Contracts Data

### Atlas U.S. Tactical Income Fund (Series ID: S000072935)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000229637 | Atlas U.S. Tactical Income Fund Class A |  |
| C000229638 | Atlas U.S. Tactical Income Fund Class C |  |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **December 31, 2022** | **December 31, 2022** | **December 31, 2022** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 28.8%** |  |
|  | **APPAREL & TEXTILE PRODUCTS - 1.0%** |  |
| 6773 | NIKE, Inc., Class B | &nbsp;&nbsp;&nbsp; $792509 |
|  | **BANKING - 2.9%** |  |
| 22362 | Bank of America Corporation | &nbsp;&nbsp;&nbsp; 740628 |
| 11078 | Citigroup, Inc. | &nbsp;&nbsp;&nbsp; 501058 |
| 15551 | Fifth Third Bancorp | &nbsp;&nbsp;&nbsp; 510228 |
| 2766 | JPMorgan Chase & Company | &nbsp;&nbsp;&nbsp; 370921 |
| 6604 | Wells Fargo & Company | &nbsp;&nbsp;&nbsp; 272679 |
|  |  | &nbsp;&nbsp; 2395514 |
|  | **CABLE & SATELLITE - 0.5%** |  |
| 12107 | Comcast Corporation, Class A | &nbsp;&nbsp;&nbsp; 423382 |
|  | **E-COMMERCE DISCRETIONARY - 1.0%** |  |
| 9160 | Amazon.com, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 769440 |
|  | **ENTERTAINMENT CONTENT - 0.8%** |  |
| 7056 | Walt Disney Company (The)<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 613025 |
|  | **HEALTH CARE REIT - 0.3%** |  |
| 22861 | Medical Properties Trust, Inc. | &nbsp;&nbsp;&nbsp; 254672 |
|  | **INSTITUTIONAL FINANCIAL SERVICES - 0.4%** |  |
| 908 | Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp;&nbsp; 311789 |
|  | **INSURANCE - 0.5%** |  |
| 5953 | American International Group, Inc. | &nbsp;&nbsp;&nbsp; 376468 |
|  | **INTERNET MEDIA & SERVICES - 1.6%** |  |
| 4307 | Airbnb, Inc., CLASS A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 368249 |
| 8760 | Alphabet, Inc., Class C<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 777275 |
| 576 | Netflix, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 169851 |
|  |  | &nbsp;&nbsp; 1315375 |

---

---

| | | |
|:---|:---|:---|
| **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2022** | **December 31, 2022** | **December 31, 2022** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 28.8% (Continued)** |  |
|  | **LEISURE FACILITIES & SERVICES - 0.4%** |  |
| 3418 | Starbucks Corporation | &nbsp;&nbsp;&nbsp; $339066 |
|  | **MORTGAGE FINANCE - 9.0%** |  |
| 328397 | AGNC Investment Corporation | &nbsp;&nbsp;&nbsp; 3398909 |
| 183298 | Annaly Capital Management, Inc. | &nbsp;&nbsp;&nbsp; 3863922 |
|  |  | &nbsp;&nbsp; 7262831 |
|  | **OFFICE REIT - 0.0%<sup>(b)</sup>** |  |
| 1071 | Orion Office REIT, Inc. | &nbsp;&nbsp;&nbsp; 9146 |
|  | **RETAIL - CONSUMER STAPLES - 1.0%** |  |
| 752 | Costco Wholesale Corporation | &nbsp;&nbsp;&nbsp; 343288 |
| 1843 | Target Corporation | &nbsp;&nbsp;&nbsp; 274681 |
| 1300 | Walmart, Inc. | &nbsp;&nbsp;&nbsp; 184327 |
|  |  | &nbsp;&nbsp; 802296 |
|  | **RETAIL - DISCRETIONARY - 0.6%** |  |
| 1613 | Home Depot, Inc. (The) | &nbsp;&nbsp;&nbsp; 509482 |
|  | **RETAIL REIT - 1.0%** |  |
| 11896 | Realty Income Corporation | &nbsp;&nbsp;&nbsp; 754563 |
|  | **SEMICONDUCTORS - 1.7%** |  |
| 8227 | Advanced Micro Devices, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 532863 |
| 2388 | Applied Materials, Inc. | &nbsp;&nbsp;&nbsp; 232543 |
| 13835 | Intel Corporation | &nbsp;&nbsp;&nbsp; 365659 |
| 3792 | Micron Technology, Inc. | &nbsp;&nbsp;&nbsp; 189524 |
|  |  | &nbsp;&nbsp; 1320589 |
|  | **SOFTWARE - 3.3%** |  |
| 2710 | Crowdstrike Holdings, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 285336 |
| 5410 | Microsoft Corporation | &nbsp;&nbsp;&nbsp; 1297426 |
| 2152 | Palo Alto Networks, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 300290 |
| 3403 | Salesforce, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 451204 |
| 7670 | Shopify, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 266226 |
|  |  | &nbsp;&nbsp; 2600482 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2022** | **December 31, 2022** | **December 31, 2022** | **December 31, 2022** | **December 31, 2022** | **December 31, 2022** |
| **Shares** |  |  |  |  | **Fair Value** |
|  | **COMMON STOCKS — 28.8% (Continued)** | **COMMON STOCKS — 28.8% (Continued)** |  |  |  |
|  | **TECHNOLOGY HARDWARE - 0.5%** | **TECHNOLOGY HARDWARE - 0.5%** |  |  |  |
| 3079 | Apple, Inc. |  |  |  | &nbsp;&nbsp;&nbsp; $400054 |
|  | **TECHNOLOGY SERVICES - 1.2%** | **TECHNOLOGY SERVICES - 1.2%** |  |  |  |
| 5402 | Fiserv, Inc.<sup>(a)</sup> |  |  |  | &nbsp;&nbsp;&nbsp; 545980 |
| 6345 | PayPal Holdings, Inc.<sup>(a)</sup> |  |  |  | &nbsp;&nbsp;&nbsp; 451891 |
|  |  |  |  |  | &nbsp;&nbsp; 997871 |
|  | **TELECOMMUNICATIONS - 0.6%** | **TELECOMMUNICATIONS - 0.6%** |  |  |  |
| 12151 | Verizon Communications, Inc. |  |  |  | &nbsp;&nbsp;&nbsp; 478749 |
|  | **TRANSPORTATION & LOGISTICS - 0.5%** | **TRANSPORTATION & LOGISTICS - 0.5%** |  |  |  |
| 2165 | United Parcel Service, Inc., Class B |  |  |  | &nbsp;&nbsp;&nbsp; 376364 |
|  | **TOTAL COMMON STOCKS (Cost $29,654,433)** | **TOTAL COMMON STOCKS (Cost $29,654,433)** |  |  | &nbsp;&nbsp; 23103667 |
|  | **EXCHANGE-TRADED FUNDS — 4.7%** | **EXCHANGE-TRADED FUNDS — 4.7%** |  |  |  |
|  | **EQUITY - 4.7%** | **EQUITY - 4.7%** |  |  |  |
| 9878 | SPDR S&P 500 ETF Trust |  |  |  | &nbsp;&nbsp;&nbsp; 3777644 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $3,797,645)** | **TOTAL EXCHANGE-TRADED FUNDS (Cost $3,797,645)** |  |  | &nbsp;&nbsp; 3777644 |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** |  |
|  | **CORPORATE BONDS — 41.6%** | **CORPORATE BONDS — 41.6%** |  |  |  |
|  | **BANKING** — **21.2%** | **BANKING** — **21.2%** |  |  |  |
| 2400000 | Bank of America Corporation<sup>(c)</sup> | H15T5Y + 1.200% | 2.4820 | &nbsp;&nbsp;&nbsp;09/21/36 | 1774959 |
| 4600000 | Bank of America Corporation<sup>(c)</sup> | H15T5Y + 2.000% | 3.8460 | &nbsp;&nbsp;&nbsp;03/08/37 | 3832924 |
| 3300000 | Citigroup, Inc. |  | 4.1250 | &nbsp;&nbsp;&nbsp;07/25/28 | 3083917 |
| 100000 | JPMorgan Chase & Company |  | 4.2500 | &nbsp;&nbsp;&nbsp;10/01/27 | 96530 |
| 5900000 | JPMorgan Chase & Company<sup>(c)</sup> | SOFRRATE + 2.580% | 5.7170 | &nbsp;&nbsp;&nbsp;09/14/33 | 5819522 |
| 2500000 | US Bancorp<sup>(c)</sup> | SOFRRATE + 2.110% | 4.9670 | &nbsp;&nbsp;&nbsp;07/22/33 | 2387416 |
|  |  |  |  |  | 16995268 |
|  | **INSTITUTIONAL FINANCIAL SERVICES** — **7.9%** | **INSTITUTIONAL FINANCIAL SERVICES** — **7.9%** |  |  |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2022** | **December 31, 2022** | **December 31, 2022** | **December 31, 2022** | **December 31, 2022** | **December 31, 2022** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 41.6% (Continued)** | **CORPORATE BONDS — 41.6% (Continued)** |  |  |  |
|  | **INSTITUTIONAL FINANCIAL SERVICES** — **7.9% (Continued)** | **INSTITUTIONAL FINANCIAL SERVICES** — **7.9% (Continued)** |  |  |  |
| 6900000 | Morgan Stanley<sup>(c)</sup> | SOFRRATE + 2.620% | 5.2970 | &nbsp;&nbsp;&nbsp;04/20/37 | $6348446 |
|  | **SPECIALTY FINANCE** — **12.5%** | **SPECIALTY FINANCE** — **12.5%** |  |  |  |
| 4000000 | American Express Company<sup>(c)</sup> | SOFRRATE + 2.255% | 4.9890 | &nbsp;&nbsp;&nbsp;05/26/33 | 3869645 |
| 6600000 | Capital One Financial Corporation<sup>(c)</sup> | SOFRRATE + 2.370% | 5.2680 | &nbsp;&nbsp;&nbsp;05/10/33 | 6169490 |
|  |  |  |  |  | 10039135 |
|  | **TOTAL CORPORATE BONDS (Cost $35,612,460)** | **TOTAL CORPORATE BONDS (Cost $35,612,460)** |  |  | 33382849 |
|  | **MUNICIPAL BONDS — 0.9%** | **MUNICIPAL BONDS — 0.9%** |  |  |  |
|  | **WATER AND SEWER** — **0.9%** | **WATER AND SEWER** — **0.9%** |  |  |  |
| 1000000 | City of Cincinnati OH Water System Revenue |  | 2.6260 | &nbsp;&nbsp;&nbsp;12/01/40 | 731110 |
|  | **TOTAL MUNICIPAL BONDS (Cost $1,020,467)** | **TOTAL MUNICIPAL BONDS (Cost $1,020,467)** |  |  | 731110 |
|  | **U.S. GOVERNMENT & AGENCIES — 102.0%** | **U.S. GOVERNMENT & AGENCIES — 102.0%** |  |  |  |
|  | **AGENCY FIXED RATE** — **91.8%** | **AGENCY FIXED RATE** — **91.8%** |  |  |  |
| 41359290 | Fannie Mae Pool<sup>(e)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;11/01/52 | 41539027 |
| 101178 | Ginnie Mae I Pool |  | 6.0000 | &nbsp;&nbsp;&nbsp;09/15/32 | 104022 |
| 77186 | Ginnie Mae I Pool |  | 6.0000 | &nbsp;&nbsp;&nbsp;01/15/33 | 79277 |
| 32149 | Ginnie Mae I Pool |  | 6.0000 | &nbsp;&nbsp;&nbsp;06/15/33 | 34129 |
| 301579 | Ginnie Mae I Pool<sup>(e)</sup> |  | 6.5000 | &nbsp;&nbsp;&nbsp;10/15/37 | 311722 |
| 855487 | Ginnie Mae I Pool<sup>(e)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;01/15/46 | 851092 |
| 1187225 | Ginnie Mae I Pool<sup>(e)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;01/15/48 | 1138677 |
| 814836 | Ginnie Mae I Pool<sup>(e)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;03/15/48 | 778901 |
| 651972 | Ginnie Mae I Pool<sup>(e)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;03/15/48 | 624026 |
| 764857 | Ginnie Mae I Pool<sup>(e)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;04/15/48 | 731764 |
| 581561 | Ginnie Mae I Pool<sup>(e)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;05/15/48 | 555045 |
| 723214 | Ginnie Mae I Pool<sup>(e)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;05/15/48 | 708757 |
| 570409 | Ginnie Mae I Pool<sup>(e)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;08/15/48 | 545729 |
| 491834 | Ginnie Mae I Pool<sup>(e)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;11/15/48 | 470553 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2022** | **December 31, 2022** | **December 31, 2022** | **December 31, 2022** | **December 31, 2022** |
| **Principal Amount ($)** |  | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **U.S. GOVERNMENT & AGENCIES — 102.0% (Continued)** |  |  |  |
|  | **AGENCY FIXED RATE** — **91.8% (Continued)** |  |  |  |
| 1094302 | Ginnie Mae I Pool<sup>(e)</sup> | 4.5000 | &nbsp;&nbsp;&nbsp;02/15/49 | $1079935 |
| 3834324 | Ginnie Mae I Pool<sup>(e)</sup> | 4.0000 | &nbsp;&nbsp;&nbsp;07/15/49 | 3665210 |
| 659867 | Ginnie Mae I Pool<sup>(e)</sup> | 4.5000 | &nbsp;&nbsp;&nbsp;02/15/50 | 651204 |
| 1366791 | Ginnie Mae II Pool<sup>(e)</sup> | 4.0000 | &nbsp;&nbsp;&nbsp;09/20/47 | 1307472 |
| 1033536 | Ginnie Mae II Pool<sup>(e)</sup> | 4.5000 | &nbsp;&nbsp;&nbsp;02/20/48 | 1006873 |
| 831745 | Ginnie Mae II Pool<sup>(e)</sup> | 4.0000 | &nbsp;&nbsp;&nbsp;03/20/48 | 804326 |
| 1269340 | Ginnie Mae II Pool<sup>(e)</sup> | 4.0000 | &nbsp;&nbsp;&nbsp;03/20/48 | 1216898 |
| 1009392 | Ginnie Mae II Pool<sup>(e)</sup> | 4.5000 | &nbsp;&nbsp;&nbsp;07/20/48 | 993796 |
| 582044 | Ginnie Mae II Pool<sup>(e)</sup> | 4.5000 | &nbsp;&nbsp;&nbsp;09/20/48 | 571611 |
| 1423076 | Ginnie Mae II Pool<sup>(e)</sup> | 4.5000 | &nbsp;&nbsp;&nbsp;02/20/49 | 1397566 |
| 1800194 | Ginnie Mae II Pool<sup>(e)</sup> | 4.0000 | &nbsp;&nbsp;&nbsp;02/20/50 | 1718554 |
| 7367876 | Ginnie Mae II Pool<sup>(e)</sup> | 5.5000 | &nbsp;&nbsp;&nbsp;10/20/52 | 7535048 |
| 2002316 | Ginnie Mae II Pool<sup>(e)</sup> | 6.5000 | &nbsp;&nbsp;&nbsp;10/20/52 | 2132715 |
| 1188844 | Ginnie Mae II Pool | 6.0000 | &nbsp;&nbsp;&nbsp;12/20/52 | 1244512 |
|  |  |  |  | 73798441 |
|  | **AGENCY MBS OTHER** — **10.2%** |  |  |  |
| 39850 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;07/15/24 | 39796 |
| 44834 | Ginnie Mae I Pool | 7.5000 | &nbsp;&nbsp;&nbsp;12/15/24 | 44819 |
| 33550 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;02/15/25 | 33488 |
| 45992 | Ginnie Mae I Pool | 7.5000 | &nbsp;&nbsp;&nbsp;02/15/25 | 46023 |
| 43625 | Ginnie Mae I Pool | 7.5000 | &nbsp;&nbsp;&nbsp;04/15/25 | 43579 |
| 48249 | Ginnie Mae I Pool | 8.0000 | &nbsp;&nbsp;&nbsp;05/15/25 | 48307 |
| 33418 | Ginnie Mae I Pool | 7.5000 | &nbsp;&nbsp;&nbsp;06/15/25 | 33432 |
| 42212 | Ginnie Mae I Pool | 7.5000 | &nbsp;&nbsp;&nbsp;06/15/25 | 42322 |
| 32075 | Ginnie Mae I Pool | 7.5000 | &nbsp;&nbsp;&nbsp;06/15/25 | 32087 |
| 48405 | Ginnie Mae I Pool | 7.5000 | &nbsp;&nbsp;&nbsp;09/15/25 | 48409 |
| 41478 | Ginnie Mae I Pool | 7.5000 | &nbsp;&nbsp;&nbsp;12/15/25 | 41521 |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;02/15/26 | 25071 |
| 41133 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;04/15/26 | 41251 |
| 25000 | Ginnie Mae I Pool | 7.5000 | &nbsp;&nbsp;&nbsp;05/15/26 | 25051 |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;06/15/26 | 24970 |
| 42647 | Ginnie Mae I Pool | 7.5000 | &nbsp;&nbsp;&nbsp;07/15/26 | 42734 |
| 38823 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;08/15/26 | 38777 |
| 48072 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;08/15/26 | 47997 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2022** | **December 31, 2022** | **December 31, 2022** | **December 31, 2022** | **December 31, 2022** |
| **Principal Amount ($)** |  | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **U.S. GOVERNMENT & AGENCIES — 102.0% (Continued)** |  |  |  |
|  | **AGENCY MBS OTHER** — **10.2% (Continued)** |  |  |  |
| 49114 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;08/15/26 | $49055 |
| 36020 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;08/15/26 | 35966 |
| 45992 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;08/15/26 | 45922 |
| 43602 | Ginnie Mae I Pool | 7.5000 | &nbsp;&nbsp;&nbsp;09/15/26 | 43640 |
| 47125 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;10/15/26 | 47060 |
| 39181 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;11/15/26 | 39131 |
| 48979 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;01/15/27 | 48946 |
| 27344 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;01/15/27 | 27294 |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;01/15/27 | 25405 |
| 31687 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;03/15/27 | 31706 |
| 48076 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;03/15/27 | 48030 |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;03/15/27 | 25405 |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;04/15/27 | 25405 |
| 28189 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;04/15/27 | 28138 |
| 37614 | Ginnie Mae I Pool | 6.5000 | &nbsp;&nbsp;&nbsp;05/15/27 | 37538 |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;05/15/27 | 25012 |
| 71286 | Ginnie Mae I Pool | 6.5000 | &nbsp;&nbsp;&nbsp;06/15/27 | 71126 |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;06/15/27 | 25405 |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;06/15/27 | 24990 |
| 42686 | Ginnie Mae I Pool | 6.5000 | &nbsp;&nbsp;&nbsp;07/15/27 | 42596 |
| 43520 | Ginnie Mae I Pool | 6.5000 | &nbsp;&nbsp;&nbsp;07/15/27 | 43428 |
| 36642 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;07/15/27 | 36615 |
| 39459 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;08/15/27 | 40098 |
| 28583 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;08/15/27 | 28571 |
| 43132 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;08/15/27 | 43129 |
| 45309 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;08/15/27 | 45331 |
| 32734 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;09/15/27 | 32701 |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;03/15/28 | 25416 |
| 45057 | Ginnie Mae I Pool | 6.5000 | &nbsp;&nbsp;&nbsp;04/15/28 | 44966 |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;04/15/28 | 25416 |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;06/15/28 | 25416 |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;04/15/29 | 24987 |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;06/15/29 | 25377 |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;07/15/29 | 25377 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2022** | **December 31, 2022** | **December 31, 2022** | **December 31, 2022** | **December 31, 2022** |
| **Principal Amount ($)** |  | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **U.S. GOVERNMENT & AGENCIES — 102.0% (Continued)** |  |  |  |
|  | **AGENCY MBS OTHER** — **10.2% (Continued)** |  |  |  |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;09/15/29 | $25377 |
| 35993 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;11/15/29 | 36536 |
| 33338 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;01/15/30 | 33321 |
| 34119 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;01/15/30 | 34096 |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;02/15/30 | 25590 |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;03/15/30 | 25590 |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;03/15/30 | 25393 |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;05/15/30 | 25033 |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;05/15/30 | 25590 |
| 40836 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;05/15/30 | 40822 |
| 38156 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;05/15/30 | 38139 |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;05/15/30 | 25393 |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;06/15/30 | 25418 |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;06/15/30 | 25393 |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;06/15/30 | 25033 |
| 45756 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;06/15/30 | 45748 |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;06/15/30 | 25590 |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;07/15/30 | 25590 |
| 40738 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;07/15/30 | 40724 |
| 41433 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;08/15/30 | 41420 |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;08/15/30 | 25019 |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;08/15/30 | 25418 |
| 34540 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;09/15/30 | 35355 |
| 45189 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;09/15/30 | 45249 |
| 41711 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;09/15/30 | 42367 |
| 41521 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;10/15/30 | 41552 |
| 25000 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;10/15/30 | 25418 |
| 44210 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;11/15/30 | 44201 |
| 85518 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;12/15/30 | 85644 |
| 48134 | Ginnie Mae I Pool | 6.5000 | &nbsp;&nbsp;&nbsp;01/15/31 | 48025 |
| 30400 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;01/15/31 | 30906 |
| 44416 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;01/15/31 | 45159 |
| 44094 | Ginnie Mae I Pool | 7.0000 | &nbsp;&nbsp;&nbsp;02/15/31 | 44085 |
| 55148 | Ginnie Mae I Pool | 6.5000 | &nbsp;&nbsp;&nbsp;03/15/31 | 55046 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2022** | **December 31, 2022** | **December 31, 2022** | **December 31, 2022** | **December 31, 2022** | **December 31, 2022** |
| **Principal Amount ($)** |  |  | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **U.S. GOVERNMENT & AGENCIES — 102.0% (Continued)** | **U.S. GOVERNMENT & AGENCIES — 102.0% (Continued)** |  |  |  |
|  | **AGENCY MBS OTHER** — **10.2% (Continued)** | **AGENCY MBS OTHER** — **10.2% (Continued)** |  |  |  |
| 25000 | Ginnie Mae I Pool |  | 6.5000 | &nbsp;&nbsp;&nbsp;03/15/31 | $24954 |
| 86993 | Ginnie Mae I Pool |  | 6.5000 | &nbsp;&nbsp;&nbsp;03/15/31 | 86774 |
| 135608 | Ginnie Mae I Pool<sup>(e)</sup> |  | 6.5000 | &nbsp;&nbsp;&nbsp;03/15/31 | 136805 |
| 25000 | Ginnie Mae I Pool |  | 6.5000 | &nbsp;&nbsp;&nbsp;03/15/31 | 24957 |
| 25000 | Ginnie Mae I Pool |  | 6.5000 | &nbsp;&nbsp;&nbsp;04/15/31 | 24957 |
| 36832 | Ginnie Mae I Pool |  | 6.5000 | &nbsp;&nbsp;&nbsp;04/15/31 | 36765 |
| 82353 | Ginnie Mae I Pool |  | 6.5000 | &nbsp;&nbsp;&nbsp;04/15/31 | 82203 |
| 61253 | Ginnie Mae I Pool |  | 6.5000 | &nbsp;&nbsp;&nbsp;05/15/31 | 61107 |
| 99018 | Ginnie Mae I Pool |  | 6.5000 | &nbsp;&nbsp;&nbsp;05/15/31 | 98833 |
| 25000 | Ginnie Mae I Pool |  | 6.5000 | &nbsp;&nbsp;&nbsp;05/15/31 | 24954 |
| 25000 | Ginnie Mae I Pool |  | 6.5000 | &nbsp;&nbsp;&nbsp;06/15/31 | 24957 |
| 40278 | Ginnie Mae I Pool |  | 6.5000 | &nbsp;&nbsp;&nbsp;08/15/31 | 40205 |
| 37484 | Ginnie Mae I Pool |  | 6.5000 | &nbsp;&nbsp;&nbsp;08/15/31 | 37420 |
| 238216 | Ginnie Mae I Pool<sup>(e)</sup> |  | 6.5000 | &nbsp;&nbsp;&nbsp;11/15/31 | 244006 |
| 385354 | Ginnie Mae I Pool<sup>(e)</sup> |  | 6.5000 | &nbsp;&nbsp;&nbsp;11/15/31 | 394485 |
| 139922 | Ginnie Mae I Pool<sup>(e)</sup> |  | 6.5000 | &nbsp;&nbsp;&nbsp;01/15/32 | 139776 |
| 91808 | Ginnie Mae I Pool |  | 6.0000 | &nbsp;&nbsp;&nbsp;08/15/32 | 91292 |
| 96504 | Ginnie Mae I Pool |  | 6.0000 | &nbsp;&nbsp;&nbsp;08/15/32 | 95840 |
| 571344 | Ginnie Mae I Pool<sup>(e)</sup> |  | 6.5000 | &nbsp;&nbsp;&nbsp;08/15/32 | 590110 |
| 291574 | Ginnie Mae I Pool<sup>(e)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;09/15/32 | 295818 |
| 421051 | Ginnie Mae I Pool<sup>(e)</sup> |  | 6.5000 | &nbsp;&nbsp;&nbsp;02/15/33 | 434246 |
| 105400 | Ginnie Mae I Pool |  | 6.0000 | &nbsp;&nbsp;&nbsp;04/15/33 | 104727 |
| 311940 | Ginnie Mae I Pool<sup>(e)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;08/15/33 | 317166 |
| 308854 | Ginnie Mae I Pool<sup>(e)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;04/15/38 | 306786 |
| 635756 | Ginnie Mae I Pool<sup>(e)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;06/15/38 | 632657 |
| 713669 | Ginnie Mae I Pool<sup>(e)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;09/15/38 | 711386 |
|  |  |  |  |  | 8186658 |
|  | **TOTAL U.S. GOVERNMENT & AGENCIES (Cost $83,763,257)** | **TOTAL U.S. GOVERNMENT & AGENCIES (Cost $83,763,257)** |  |  | 81985099 |
| **Contracts<sup>(d)</sup>** |  |  |  |  |  |
|  | **EQUITY OPTIONS PURCHASED<sup>(a)</sup> - 0.6%** | **Expiration Date** | **Exercise Price** | **Notional Value** |  |
|  | **PUT OPTIONS PURCHASED - 0.6%** | **PUT OPTIONS PURCHASED - 0.6%** |  |  |  |
| 315 | SPDR S&P 500 ETF Trust | 03/17/2023 | $355 | &nbsp;&nbsp;&nbsp; $12046545 | &nbsp;&nbsp;&nbsp; 186165 |
| 335 | SPDR S&P 500 ETF Trust | 03/17/2023 | 365 | &nbsp;&nbsp;&nbsp; 12811405 | &nbsp;&nbsp;&nbsp; 275370 |
|  | **TOTAL PUT OPTIONS PURCHASED** (Cost - $421,818) | **TOTAL PUT OPTIONS PURCHASED** (Cost - $421,818) | **TOTAL PUT OPTIONS PURCHASED** (Cost - $421,818) |  | &nbsp;&nbsp; 461535 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** | **ATLAS U.S. TACTICAL INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2022** | **December 31, 2022** | **December 31, 2022** | **December 31, 2022** | **December 31, 2022** |
|  |  | |  | **Fair Value** |
|  | **TOTAL INVESTMENTS - 178.6% (Cost $154,270,080)** |  |  | &nbsp;&nbsp;&nbsp; $143441904 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (78.6)%** |  |  | &nbsp;&nbsp; (63130800) |
|  | **NET ASSETS - 100.0%** |  |  | &nbsp;&nbsp; $80311104 |
| **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** |  |  |  |
| **Number of Contracts** | **Open Short Futures Contracts** | **Expiration** | **Notional Amount** | **Unrealized Appreciation** |
| 190 | CBOT 10 Year US Treasury Note | 03/22/2023 | &nbsp;&nbsp;&nbsp; $21336430 | &nbsp;&nbsp;&nbsp; $187867 |
| 123 | CBOT US Long Bond Future | 03/22/2023 | &nbsp;&nbsp;&nbsp; 15417312 | &nbsp;&nbsp;&nbsp; 230532 |
|  | **TOTAL FUTURES CONTRACTS** | **TOTAL FUTURES CONTRACTS** |  | &nbsp;&nbsp; $418399 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **REVERSE REPURCHASE AGREEMENTS** | **REVERSE REPURCHASE AGREEMENTS** |  |  |  |  |
| **Principal Amount ($)** | **Counterparty** | **Acquired Date** | **Interest (%)** | **Maturity** | **Fair Value** |
| $(2984000) | Amherst Pierpont | 12/7/2022 | 4.5500 | 1/9/2023 | $(2984000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4680000) | Goldman Sachs | 12/21/2022 | 4.6900 | 1/4/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4680000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33600000) | INTL FCStone | 12/28/2022 | 4.6000 | 1/4/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33600000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24091000) | South Street | 12/7/2022 | 4.5000 | 1/9/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24091000) |
| **TOTAL REVERSE REPURCHASE AGREEMENTS (Proceeds $65,355,000)** | **TOTAL REVERSE REPURCHASE AGREEMENTS (Proceeds $65,355,000)** | **TOTAL REVERSE REPURCHASE AGREEMENTS (Proceeds $65,355,000)** | **TOTAL REVERSE REPURCHASE AGREEMENTS (Proceeds $65,355,000)** |  | $(65355000) |

---

---

| | |
|:---|:---|
| ETF | - Exchange-Traded Fund |
| MBS | - Mortgage Backed Security |
| REIT | - Real Estate Investment Trust |
| SPDR | - Standard & Poor's Depositary Receipt |
| H15T5Y | US Treasury Yield Curve Rate T Note Constant Maturity 5 Year |
| SOFRRATE | United States SOFR Secured Overnight Financing Rate |

---

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

<sup>(b)</sup> Percentage rounds to less than 0.1%.

<sup>(c)</sup> Variable rate security; the rate shown represents the rate on December 31, 2022.

<sup>(d)</sup> Each option contract allows the holder of the option to purchase or sell 100 shares of the underlying security.

<sup>(e)</sup> This security has been pledged as collateral for securities sold under agreements to repurchase of $76,539,738.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Atlas U.S. Tactical Income Fund, Inc.

- **b. Investment Company Act file number:** 811-23705

- **c. CIK number of Registrant:** 0001866278

- **d. LEI of Registrant:** 549300Z7OT0ETHJJWE49

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

  - **Street Address 1:** Buchanan Office Center, 40 Carr. 165

  - **City:** Guaynabo

  - **State:** PR

  - **Foreign country:** US

  - **Zip / Postal Code:** 00968

  - **Telephone number:** 787-781-1301

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

- **a. Name of Series:** Atlas U.S. Tactical Income Fund

- **b. EDGAR series identifier (if any):** S000072935

- **c. LEI of Series:** 549300Z7OT0ETHJJWE49

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

- **a. Date of fiscal year-end:** 2023-09-30

- **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:** $147403386.64

**Total Liabilities:** $67092282.91

**Net Assets:** $80311103.73

**Cash Not Reported:** $2510948.17

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 323.66285100 | **1-Year:** 1406.85139400 | **5-Year:** 26064.76259500 | **10-Year:** 32049.58408200 | **30-Year:** 322.45990600

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000229638 | 1.41%                | 5.34%                | -1.78%               |
| Class ID C000229637 | 1.52%                | 5.32%                | -1.68%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1790249.77             | $1610168.62                                |
| Month 2  | $-459690.23              | $6167687.40                                |
| Month 3  | $-88268.06               | $-2191058.45                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Government National Mortgage Association | GN BD7599               | CUSIP: 3617BPNQ9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    723214 | PA      | $708756.64    | 0.88%             | 2048-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 411856               | CUSIP: 36206HQH4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     48249 | PA      | $48307.00     | 0.06%             | 2025-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 556306               | CUSIP: 36213KAF9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    139922 | PA      | $139776.40    | 0.17%             | 2032-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 451274               | CUSIP: 36208HJT4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     71286 | PA      | $71126.04     | 0.09%             | 2027-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Agnc Investment Corp                     | AGNC INVESTMENT         | CUSIP: 00123Q104<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EC               | CORP              | US        |    328397 | NS      | $3398908.95   | 4.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association | GN 437580               | CUSIP: 36207PCR8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     43602 | PA      | $43640.31     | 0.05%             | 2026-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                   | US 10YR NOTE (CBT)Mar23 | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Short            | DIR              | CORP              | US        |      -190 | NC      | $187866.96    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association | GN 515475               | CUSIP: 36211KT87<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $25033.06     | 0.03%             | 2030-05-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Home Depot Inc                           | HOME DEPOT INC          | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      1613 | NS      | $509482.18    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association | GN 451947               | CUSIP: 36208JBQ4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     28583 | PA      | $28571.28     | 0.04%             | 2027-08-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Crowdstrike Holdings Inc                 | CROWDSTRIKE HO-A        | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |      2710 | NS      | $285335.90    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Company                      | WALT DISNEY CO          | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |      7056 | NS      | $613025.28    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association | GN 529797               | CUSIP: 36212CRS2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $25418.18     | 0.03%             | 2030-08-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | G2 BL5755               | CUSIP: 3617JJMC7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1423076 | PA      | $1397566.32   | 1.74%             | 2049-02-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | G2 BD4637               | CUSIP: 3617BLEJ4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1366791 | PA      | $1307472.25   | 1.63%             | 2047-09-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 412705               | CUSIP: 36206JNW0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     32075 | PA      | $32086.90     | 0.04%             | 2025-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 515428               | CUSIP: 36211KSR6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     40738 | PA      | $40724.38     | 0.05%             | 2030-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Intel Corporation                        | INTEL CORP              | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |     13835 | NS      | $365659.05    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                           | MS 5.297 04/20/37       | CUSIP: 61747YES0<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   6900000 | PA      | $6348445.95   | 7.90%             | 2037-04-20      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 515477               | CUSIP: 36211KUA0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $25393.16     | 0.03%             | 2030-05-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 509251               | CUSIP: 36211CWL2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $25376.90     | 0.03%             | 2029-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 401479               | CUSIP: 36205U6Q8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     45992 | PA      | $46022.83     | 0.06%             | 2025-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 528512               | CUSIP: 36212BDR1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $25590.20     | 0.03%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 515475               | CUSIP: 36211KT87<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     45189 | PA      | $45248.76     | 0.06%             | 2030-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN AQ7400               | CUSIP: 36189YGH9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    855487 | PA      | $851091.93    | 1.06%             | 2046-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | G2 BG9708               | CUSIP: 3617GUYD0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1009392 | PA      | $993796.44    | 1.24%             | 2048-07-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 529849               | CUSIP: 36212CTE1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     36832 | PA      | $36765.47     | 0.05%             | 2031-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 453689               | CUSIP: 36208K7A1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     32734 | PA      | $32701.21     | 0.04%             | 2027-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN AD6358               | CUSIP: 36180JB37<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1187225 | PA      | $1138677.30   | 1.42%             | 2048-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association    | FN MA4807               | CUSIP: 31418EKV1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  41359290 | PA      | $41539027.57  | 51.72%            | 2052-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 694156               | CUSIP: 36296LE55<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    713669 | PA      | $711385.12    | 0.89%             | 2038-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc.                            | ALPHABET INC-C          | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      8760 | NS      | $777274.80    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association | GN 509251               | CUSIP: 36211CWL2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $25376.90     | 0.03%             | 2029-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 451947               | CUSIP: 36208JBQ4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $24989.75     | 0.03%             | 2027-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 528512               | CUSIP: 36212BDR1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     34540 | PA      | $35355.43     | 0.04%             | 2030-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN BF0597               | CUSIP: 3617G6UW5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    814836 | PA      | $778901.28    | 0.97%             | 2048-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                           | CITIGROUP INC           | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     11078 | NS      | $501057.94    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association | GN 515475               | CUSIP: 36211KT87<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $25033.06     | 0.03%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN BF0605               | CUSIP: 3617G6U62<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    651972 | PA      | $624025.86    | 0.78%             | 2048-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 451298               | CUSIP: 36208HKK1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $25012.36     | 0.03%             | 2027-05-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 515542               | CUSIP: 36211KWB6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     85518 | PA      | $85643.68     | 0.11%             | 2030-12-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 460589               | CUSIP: 36208TUN8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     45057 | PA      | $44965.50     | 0.06%             | 2028-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 439758               | CUSIP: 36207RQK4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     27344 | PA      | $27294.40     | 0.03%             | 2027-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 515377               | CUSIP: 36211KQ64<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     38156 | PA      | $38139.01     | 0.05%             | 2030-05-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Starbucks Corporation                    | STARBUCKS CORP          | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |      3418 | NS      | $339065.60    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corporation                    | MICROSOFT CORP          | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      5410 | NS      | $1297426.20   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association | GN 453678               | CUSIP: 36208K6P9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $25404.72     | 0.03%             | 2027-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Costco Wholesale Corporation             | COSTCO WHOLESALE        | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |       752 | NS      | $343288.00    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix, Inc.                            | NETFLIX INC             | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |       576 | NS      | $169850.88    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                     | JPMORGAN CHASE          | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      2766 | NS      | $370920.60    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                              | WALMART INC             | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |      1300 | NS      | $184327.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association | GN 401478               | CUSIP: 36205U6P0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     33550 | PA      | $33487.59     | 0.04%             | 2025-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 436910               | CUSIP: 36207NKX1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     48076 | PA      | $48029.65     | 0.06%             | 2027-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BNY REPO                                 | BNY Repo                | CUSIP: N/A<br>LEI: N/A                        | Long             | RA               |  | US        | -33600000 | PA      | $-33600000.00 | -41.84%           |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | G2 BD7592               | CUSIP: 3617BPNH9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    831745 | PA      | $804325.72    | 1.00%             | 2048-03-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 453678               | CUSIP: 36208K6P9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $25404.72     | 0.03%             | 2027-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Palo Alto Networks Inc                   | PALO ALTO NETWOR        | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      2152 | NS      | $300290.08    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association | GN BG9735               | CUSIP: 3617GUY81<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1094302 | PA      | $1079935.05   | 1.34%             | 2049-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                     | JPM 4 1/4 10/01/27      | CUSIP: 46625HNJ5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96530.39     | 0.12%             | 2027-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | G2 BF5181               | CUSIP: 3617GBXJ0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1033536 | PA      | $1006873.38   | 1.25%             | 2048-02-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN BG9690               | CUSIP: 3617GUXT6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    581561 | PA      | $555044.70    | 0.69%             | 2048-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 529780               | CUSIP: 36212CQ95<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     48134 | PA      | $48025.35     | 0.06%             | 2031-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | G2 BJ1542               | CUSIP: 3617HNWB1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    582044 | PA      | $571610.97    | 0.71%             | 2048-09-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Realty Income Corp.                      | REALTY INCOME           | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |     11896 | NS      | $754563.28    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association | GN 420001               | CUSIP: 36206SRW6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     49114 | PA      | $49054.97     | 0.06%             | 2026-08-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 439759               | CUSIP: 36207RQL2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     48979 | PA      | $48946.43     | 0.06%             | 2027-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 597865               | CUSIP: 36200DFE8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    101178 | PA      | $104022.45    | 0.13%             | 2032-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 528512               | CUSIP: 36212BDR1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $25590.20     | 0.03%             | 2030-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 556304               | CUSIP: 36213KAD4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    238216 | PA      | $244006.20    | 0.30%             | 2031-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 419994               | CUSIP: 36206SRP1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     48072 | PA      | $47997.12     | 0.06%             | 2026-08-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 560160               | CUSIP: 36213PJD4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    291574 | PA      | $295817.80    | 0.37%             | 2032-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Medical Properties Trust Inc.            | MEDICAL PROPERTI        | CUSIP: 58463J304<br>LEI: 254900U6E39J1MQCCY14 | Long             | EC               | CORP              | US        |     22861 | NS      | $254671.54    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corporation                      | COMCAST CORP-A          | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     12107 | NS      | $423381.79    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                   | US LONG BOND(CBT) Mar23 | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Short            | DIR              | CORP              | US        |      -123 | NC      | $230531.77    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Spdr S&P 500 Etf Trust                   | SPDR S&P 500 ETF        | CUSIP: 78462F103<br>LEI: 549300NZAMSJ8FXPQQ63 | Long             | EC               | RF                | US        |      9878 | NS      | $3777643.54   | 4.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc.                           | C 4 1/8 07/25/28        | CUSIP: 172967KU4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   3300000 | PA      | $3083917.16   | 3.84%             | 2028-07-25      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| American International Group, Inc.       | AMERICAN INTERNA        | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |      5953 | NS      | $376467.72    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Nike, Inc.                               | NIKE INC -CL B          | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |      6773 | NS      | $792508.73    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Shopify Inc                              | SHOPIFY INC - A         | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |      7670 | NS      | $266225.70    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association | GN 425537               | CUSIP: 36206YV65<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $25071.48     | 0.03%             | 2026-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 509251               | CUSIP: 36211CWL2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $25376.90     | 0.03%             | 2029-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 451281               | CUSIP: 36208HJ23<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     36642 | PA      | $36615.40     | 0.05%             | 2027-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc.              | VERIZON COMMUNIC        | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     12151 | NS      | $478749.40    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc.                   | APPLIED MATERIAL        | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      2388 | NS      | $232543.44    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corporation              | BANK OF AMERICA         | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     22362 | NS      | $740629.44    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association | GN 597890               | CUSIP: 36200DF73<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     32149 | PA      | $34128.80     | 0.04%             | 2033-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 528575               | CUSIP: 36212BFQ1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $25416.14     | 0.03%             | 2028-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 420000               | CUSIP: 36206SRV8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     38823 | PA      | $38777.05     | 0.05%             | 2026-08-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | G2 CP7120               | CUSIP: 3617FW4D0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2002316 | PA      | $2132714.56   | 2.66%             | 2052-10-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 420030               | CUSIP: 36206SST2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     47125 | PA      | $47060.32     | 0.06%             | 2026-10-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 529800               | CUSIP: 36212CRV5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     44094 | PA      | $44084.53     | 0.05%             | 2031-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 448271               | CUSIP: 36208D6G5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     28189 | PA      | $28137.87     | 0.04%             | 2027-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 515512               | CUSIP: 36211KVD3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     41521 | PA      | $41552.44     | 0.05%             | 2030-10-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Company                    | WELLS FARGO & CO        | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |      6604 | NS      | $272679.16    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corporation              | BAC 2.482 09/21/36      | CUSIP: 06051GKC2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2400000 | PA      | $1774959.46   | 2.21%             | 2036-09-21      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 583347               | CUSIP: 36201HBQ5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    571344 | PA      | $590109.14    | 0.73%             | 2032-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 529825               | CUSIP: 36212CSN2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     55148 | PA      | $55045.84     | 0.07%             | 2031-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 451258               | CUSIP: 36208HJB3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     37614 | PA      | $37538.11     | 0.05%             | 2027-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 420008               | CUSIP: 36206SR55<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     45992 | PA      | $45922.43     | 0.06%             | 2026-08-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 451298               | CUSIP: 36208HKK1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     45309 | PA      | $45331.41     | 0.06%             | 2027-08-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 593650               | CUSIP: 36201UQB3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    421051 | PA      | $434244.58    | 0.54%             | 2033-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 451292               | CUSIP: 36208HKD7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     42686 | PA      | $42596.16     | 0.05%             | 2027-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 425537               | CUSIP: 36206YV65<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     41133 | PA      | $41250.61     | 0.05%             | 2026-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN BN0245               | CUSIP: 3617K3HW2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    659867 | PA      | $651203.84    | 0.81%             | 2050-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                     | JPM 5.717 09/14/33      | CUSIP: 46647PDK9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   5900000 | PA      | $5819520.64   | 7.25%             | 2033-09-14      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 548517               | CUSIP: 36213AK60<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $24957.43     | 0.03%             | 2031-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 515454               | CUSIP: 36211KTK0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     41433 | PA      | $41420.34     | 0.05%             | 2030-08-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 407849               | CUSIP: 36206DBS5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     44834 | PA      | $44819.16     | 0.06%             | 2024-12-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 593671               | CUSIP: 36201UQY3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    105400 | PA      | $104726.85    | 0.13%             | 2033-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 515289               | CUSIP: 36211KNE0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     33338 | PA      | $33320.59     | 0.04%             | 2030-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN BF0613               | CUSIP: 3617G6VE4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    764857 | PA      | $731763.81    | 0.91%             | 2048-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 529850               | CUSIP: 36212CTF8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     82353 | PA      | $82202.84     | 0.10%             | 2031-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 548517               | CUSIP: 36213AK60<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     37484 | PA      | $37420.17     | 0.05%             | 2031-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 515477               | CUSIP: 36211KUA0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $25393.16     | 0.03%             | 2030-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 529954               | CUSIP: 36212CWP2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $24954.42     | 0.03%             | 2031-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 597875               | CUSIP: 36200DFQ1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     77186 | PA      | $79277.28     | 0.10%             | 2033-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 483970               | CUSIP: 36209WT36<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    301579 | PA      | $311721.93    | 0.39%             | 2037-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN BK3037               | CUSIP: 3617J3LS8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    491834 | PA      | $470552.93    | 0.59%             | 2048-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 583308               | CUSIP: 36201HAH6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     96504 | PA      | $95840.26     | 0.12%             | 2032-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 453678               | CUSIP: 36208K6P9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     39459 | PA      | $40097.80     | 0.05%             | 2027-08-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Paypal Holdings Incorporation            | PAYPAL HOLDINGS         | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |      6345 | NS      | $451890.90    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc.                   | MICRON TECH             | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |      3792 | NS      | $189524.16    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association | GN 420145               | CUSIP: 36206SWE0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $25050.93     | 0.03%             | 2026-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 436906               | CUSIP: 36207NKT0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     31687 | PA      | $31706.34     | 0.04%             | 2027-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 528575               | CUSIP: 36212BFQ1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $25416.14     | 0.03%             | 2028-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Advanced Micro Devices, Inc.             | ADV MICRO DEVICE        | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |      8227 | NS      | $532862.79    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| BNY REPO                                 | BNY Repo                | CUSIP: N/A<br>LEI: N/A                        | Long             | RA               |  | US        |  -4680000 | PA      | $-4680000.00  | -5.83%            |  |  |  | No            |                  2 | On Loan: No      |
| BNY REPO                                 | BNY Repo                | CUSIP: N/A<br>LEI: N/A                        | Long             | RA               |  | US        |  -2984000 | PA      | $-2984000.00  | -3.72%            |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | G2 CR7709               | CUSIP: 3618ANR63<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1188844 | PA      | $1244512.12   | 1.55%             | 2052-12-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 529873               | CUSIP: 36212CT68<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     61253 | PA      | $61107.16     | 0.08%             | 2031-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 515285               | CUSIP: 36211KNA8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     34119 | PA      | $34095.61     | 0.04%             | 2030-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 528512               | CUSIP: 36212BDR1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $25590.20     | 0.03%             | 2030-05-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corporation        | COF 5.268 05/10/33      | CUSIP: 14040HCT0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   6600000 | PA      | $6169490.18   | 7.68%             | 2033-05-10      | Fixed         | 5.27%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 548517               | CUSIP: 36213AK60<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $24957.43     | 0.03%             | 2031-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN BH7893               | CUSIP: 3617H5XW3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    570409 | PA      | $545728.94    | 0.68%             | 2048-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 528575               | CUSIP: 36212BFQ1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $25416.14     | 0.03%             | 2028-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 451287               | CUSIP: 36208HJ80<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     43520 | PA      | $43427.84     | 0.05%             | 2027-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 529797               | CUSIP: 36212CRS2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $25418.18     | 0.03%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 529954               | CUSIP: 36212CWP2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     40278 | PA      | $40204.57     | 0.05%             | 2031-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fiserv Inc.                              | FISERV INC              | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |      5402 | NS      | $545980.14    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association | GN 453698               | CUSIP: 36208K7K9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     43132 | PA      | $43128.51     | 0.05%             | 2027-08-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | G2 BD7593               | CUSIP: 3617BPNJ5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1269340 | PA      | $1216898.07   | 1.52%             | 2048-03-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Annaly Capital Management, Inc.          | ANNALY CAPITAL M        | CUSIP: 035710839<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EC               | CORP              | US        |    183298 | NS      | $3863921.84   | 4.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association | GN 515477               | CUSIP: 36211KUA0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     41711 | PA      | $42366.96     | 0.05%             | 2030-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 515477               | CUSIP: 36211KUA0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $25393.16     | 0.03%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 515408               | CUSIP: 36211KR55<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     45756 | PA      | $45747.61     | 0.06%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 529954               | CUSIP: 36212CWP2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $24954.42     | 0.03%             | 2031-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 420000               | CUSIP: 36206SRV8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $24970.41     | 0.03%             | 2026-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 528512               | CUSIP: 36212BDR1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $25590.20     | 0.03%             | 2030-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 593714               | CUSIP: 36201USB1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    311940 | PA      | $317165.85    | 0.39%             | 2033-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 400489               | CUSIP: 36205T2W2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     39850 | PA      | $39795.70     | 0.05%             | 2024-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 407848               | CUSIP: 36206DBR7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     42212 | PA      | $42322.13     | 0.05%             | 2025-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 407862               | CUSIP: 36206DB71<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     48405 | PA      | $48409.18     | 0.06%             | 2025-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 407847               | CUSIP: 36206DBQ9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     33418 | PA      | $33432.41     | 0.04%             | 2025-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 453678               | CUSIP: 36208K6P9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $25404.72     | 0.03%             | 2027-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 528575               | CUSIP: 36212BFQ1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     30400 | PA      | $30906.02     | 0.04%             | 2031-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Amazon.com, Inc.                         | AMAZON.COM INC          | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      9160 | NS      | $769440.00    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                               | APPLE INC               | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      3079 | NS      | $400054.47    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| CINCINNATI OHIO                          | CINWTR 2.626 12/1/2040  | CUSIP: 172311QD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $731109.80    | 0.91%             | 2040-12-01      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| Bank of America Corporation              | BAC 3.846 03/08/37      | CUSIP: 06051GKL2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   4600000 | PA      | $3832923.69   | 4.77%             | 2037-03-08      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| United Parcel Service, Inc.              | UNITED PARCEL-B         | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |      2165 | NS      | $376363.60    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association | GN 420145               | CUSIP: 36206SWE0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     42647 | PA      | $42733.88     | 0.05%             | 2026-07-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| N/A                                      | SPY US 03/17/23 P355    | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |       315 | NC      | $186165.00    | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 515515               | CUSIP: 36211KVG6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     44210 | PA      | $44200.55     | 0.06%             | 2030-11-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | G2 CO1927               | CUSIP: 3617FDD83<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   7367876 | PA      | $7535047.57   | 9.38%             | 2052-10-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 684146               | CUSIP: 36295YBP7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    635756 | PA      | $632656.10    | 0.79%             | 2038-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 420005               | CUSIP: 36206SR22<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     36020 | PA      | $35965.90     | 0.04%             | 2026-08-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BNY REPO                                 | BNY Repo                | CUSIP: N/A<br>LEI: N/A                        | Long             | RA               |  | US        | -24091000 | PA      | $-24091000.00 | -30.00%           |  |  |  | No            |                  2 | On Loan: No      |
| Orion Office Reit Inc                    | ORION OFFICE REI        | CUSIP: 68629Y103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1071 | NS      | $9146.34      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association | GN 436858               | CUSIP: 36207NJB1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     39181 | PA      | $39130.93     | 0.05%             | 2026-11-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 515378               | CUSIP: 36211KQ72<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     40836 | PA      | $40821.71     | 0.05%             | 2030-05-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 678550               | CUSIP: 36295RZP6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    308854 | PA      | $306785.99    | 0.38%             | 2038-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 548517               | CUSIP: 36213AK60<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $24957.43     | 0.03%             | 2031-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Target Corporation                       | TARGET CORP             | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |      1843 | NS      | $274680.72    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association | GN 529872               | CUSIP: 36212CT50<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     99018 | PA      | $98832.90     | 0.12%             | 2031-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 529826               | CUSIP: 36212CSP7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    135608 | PA      | $136805.30    | 0.17%             | 2031-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 397431               | CUSIP: 36205QPQ6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     43625 | PA      | $43579.44     | 0.05%             | 2025-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                | GOLDMAN SACHS GP        | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |       908 | NS      | $311789.04    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                      | SPY US 03/17/23 P365    | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |       335 | NC      | $275370.00    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Fifth Third Bancorp                      | FIFTH THIRD BANC        | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |     15551 | NS      | $510228.31    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association | GN 515289               | CUSIP: 36211KNE0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $24986.95     | 0.03%             | 2029-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 529797               | CUSIP: 36212CRS2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     44416 | PA      | $45158.96     | 0.06%             | 2031-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 529848               | CUSIP: 36212CTD3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     86993 | PA      | $86774.10     | 0.11%             | 2031-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 509251               | CUSIP: 36211CWL2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     35993 | PA      | $36535.63     | 0.05%             | 2029-11-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 529797               | CUSIP: 36212CRS2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $25418.18     | 0.03%             | 2030-10-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 453678               | CUSIP: 36208K6P9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $25404.72     | 0.03%             | 2027-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 515512               | CUSIP: 36211KVD3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $25018.93     | 0.03%             | 2030-08-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Airbnb Inc                               | AIRBNB INC-A            | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |      4307 | NS      | $368248.50    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association | GN 417935               | CUSIP: 36206QHL5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     41478 | PA      | $41520.62     | 0.05%             | 2025-12-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Salesforce Inc                           | SALESFORCE INC          | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      3403 | NS      | $451203.77    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association | GN 556305               | CUSIP: 36213KAE2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    385354 | PA      | $394484.29    | 0.49%             | 2031-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 583307               | CUSIP: 36201HAG8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     91808 | PA      | $91291.52     | 0.11%             | 2032-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| American Express Company                 | AXP 4.989 05/26/33      | CUSIP: 025816CX5<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3869645.20   | 4.82%             | 2033-05-26      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN 528512               | CUSIP: 36212BDR1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25000 | PA      | $25590.20     | 0.03%             | 2030-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | G2 BP0604               | CUSIP: 3617L6U58<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1800194 | PA      | $1718554.20   | 2.14%             | 2050-02-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| U.S. Bancorp.                            | USB 4.967 07/22/33      | CUSIP: 91159HJG6<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2387416.25   | 2.97%             | 2033-07-22      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association | GN BK8740               | CUSIP: 3617J9V96<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3834324 | PA      | $3665209.75   | 4.56%             | 2049-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-27

**Name of Applicant:** Atlas U.S. Tactical Income Fund, Inc.

**Signature:** Paul Hopgood

**Name of Signer:** Paul Hopgood

**Title:** President