Frost Family of Funds NPORT-P Frost Credit Fund (Oct 2024 report)

FROST GROWTH EQUITY FUND October 31, 2024 (Unaudited)

Description	Shares		Value
COMMON STOCK§ — 99.7%
Communication Services — 13.9%
Alphabet, Cl C		45,558	$	7,867,411
Alphabet, Cl A		45,853		7,845,907
Meta Platforms, Cl A		21,093		11,971,965
Netflix *		3,934		2,974,222
Spotify Technology *		8,305		3,198,255
				33,857,760
Consumer Discretionary — 14.8%
Airbnb, Cl A *		9,233		1,244,516
Amazon.com *		91,958		17,140,971
Booking Holdings		666		3,114,383
Chipotle Mexican Grill, Cl A *		73,332		4,089,726
Home Depot		7,924		3,120,075
Lululemon Athletica *		2,082		620,228
NIKE, Cl B		8,388		646,966
O'Reilly Automotive *		2,592		2,988,939
Tesla *		7,199		1,798,670
TJX		11,298		1,277,013
				36,041,487
Consumer Staples — 2.6%
Coca-Cola		26,063		1,702,175
Costco Wholesale		3,951		3,453,885
Monster Beverage *		24,414		1,286,129
				6,442,189
Energy — 0.4%
Hess		8,169		1,098,567
Financials — 7.7%
Cboe Global Markets		8,563		1,828,800
Mastercard, Cl A		13,250		6,619,568
Moody's		6,228		2,827,761
Visa, Cl A		26,131		7,574,070
				18,850,199
Health Care — 11.3%
AbbVie		10,115		2,062,145
Boston Scientific *		41,279		3,468,262
Charles River Laboratories International *		4,246		758,251
Danaher		9,184		2,256,141
Eli Lilly		11,061		9,177,754
Intuitive Surgical *		9,756		4,915,463
Merck		7,236		740,388
Regeneron Pharmaceuticals *		1,234		1,034,339
UnitedHealth Group		5,631		3,178,699
				27,591,442
Industrials — 3.3%
Canadian Pacific Kansas City		22,086		1,704,156
Eaton		3,662		1,214,246
General Electric		10,418		1,789,604
Uber Technologies *		47,609		3,430,228
				8,138,234
Information Technology — 44.4%
Adobe *		5,368		2,566,333
Advanced Micro Devices *		7,687		1,107,466
Apple		93,257		21,067,689
ASML Holding, Cl G		1,336		898,527
Atlassian, Cl A *		4,278		806,574
Broadcom		38,260		6,495,400
Datadog, Cl A *		14,039		1,761,052
Globant *		12,116		2,543,027
Intuit		3,235		1,974,320

Description	Shares		Value
Marvell Technology		27,742	$	2,222,412
Microsoft		70,849		28,789,491
NVIDIA		206,168		27,370,864
QUALCOMM		7,803		1,270,094
Salesforce		3,038		885,182
ServiceNow *		5,349		4,990,564
Snowflake, Cl A *		3,054		350,660
Synopsys *		2,436		1,251,154
Workday, Cl A *		7,683		1,796,670
				108,147,479
Materials — 0.9%
Sherwin-Williams		5,809		2,084,095
Real Estate — 0.4%
American Tower ‡		4,009		856,082
Total Common Stock
(Cost $91,017,333)				243,107,534
Total Investments — 99.7%
(Cost $91,017,333)			$	243,107,534
Percentages are based on Net Assets of $243,780,560.

*	Non-income producing security.
§	Narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting.
‡	Real Estate Investment Trust

See “Glossary” for abbreviations.

FIA-QH-001-3400

1

FROST TOTAL RETURN BOND FUND October 31, 2024 (Unaudited)

Description	Face Amount		Value
MORTGAGE-BACKED SECURITIES — 32.4%
Agency Mortgage-Backed Obligation — 20.8%
FHLMC
6.000%, 08/01/53 to 09/01/53	$	46,428,501	$	46,928,104
5.500%, 11/01/54		50,000,000		49,535,679
5.000%, 06/01/54		31,747,676		30,910,536
FHLMC STRIPS, Ser 2012-293, Cl IO, IO
4.000%, 11/15/32		379,381		31,271
FHLMC, Ser 2012-3996, Cl QL
4.000%, 02/15/42		4,786,907		4,563,386
FHLMC, Ser 2012-4029, Cl LI, IO
3.000%, 01/15/27		60,875		55
FHLMC, Ser 2012-4106, Cl YI, IO
2.500%, 09/15/27		563,694		13,780
FHLMC, Ser 2012-4116, Cl MI, IO
4.000%, 10/15/42		10,408,446		1,623,805
FHLMC, Ser 2012-4116, Cl PI, IO
4.000%, 10/15/42		3,342,197		521,411
FHLMC, Ser 2012-4134, Cl BI, IO
2.500%, 11/15/27		1,557,340		38,095
FHLMC, Ser 2012-4136, Cl PI, IO
3.000%, 11/15/32		5,920,464		498,359
FHLMC, Ser 2012-4148, Cl LI, IO
2.500%, 12/15/27		1,218,578		32,534
FHLMC, Ser 2013-4213, Cl IG, IO
4.000%, 06/15/43		5,338,181		847,330
FHLMC, Ser 2014-4349, Cl KI, IO
3.000%, 04/15/33		2,598,317		119,759
FHLMC, Ser 2015-4457, Cl EI, IO
3.500%, 02/15/45		234,821		33,956
FHLMC, Ser 2017-4675, Cl VE
3.500%, 08/15/37		4,189,312		4,119,411
FHLMC, Ser 2019-4908, Cl AS, IO
1.129%, SOFR30A + 5.986%, 01/25/45 (A)		8,513,431		894,766
FHLMC, Ser 2021-5085, Cl IG, IO
2.500%, 03/25/51		19,162,344		2,323,957
FHLMC, Ser 2022-5202, Cl KI, IO
3.500%, 06/25/49		13,909,610		2,912,679
FHLMC, Ser 2024-5406, Cl PO, PO
0.000%, 03/25/52 (B)(C)		67,036,136		43,220,148
FHLMC, Ser 2024-5417, Cl JA
5.500%, 08/25/44		94,581,882		95,012,617
FHLMC, Ser 2024-5425, Cl A
5.500%, 09/25/44		85,122,186		85,518,370
FHLMC, Ser 2024-5429, Cl DV
6.000%, 04/25/35		13,688,165		14,135,980
FNMA
6.500%, 11/01/53		41,199,173		42,171,126
6.000%, 09/01/53		18,500,913		18,476,667
5.500%, 05/01/44 to 01/01/54		21,811,657		21,675,314
5.000%, 07/01/53		18,641,193		18,185,846
4.500%, 08/01/41		1,691,119		1,654,020
3.000%, 11/01/46		3,481,570		3,059,522
2.710%, 09/01/29		8,000,000		7,358,130
2.180%, 01/01/27		5,000,000		4,757,607
FNMA STRIPS, Ser 2012-410, Cl C5, IO
3.500%, 05/25/27		878,819		15,273

Description	Face Amount		Value
FNMA STRIPS, Ser 2015-421, Cl C1, IO
3.000%, 05/25/30	$	1,276,195	$	71,611
FNMA, Ser 2011-103, Cl GI, IO
3.500%, 10/25/26		175,994		1,965
FNMA, Ser 2011-146, Cl AY
3.500%, 01/25/32		1,600,892		1,548,347
FNMA, Ser 2012-61, Cl KI, IO
4.000%, 12/25/41		1,990,373		104,618
FNMA, Ser 2012-68, Cl GY
3.000%, 07/25/32		5,000,000		4,771,623
FNMA, Ser 2013-104, Cl TI, IO
3.000%, 08/25/32		608,076		20,293
FNMA, Ser 2014-40, Cl GI, IO
3.000%, 06/25/33		3,269,688		280,664
FNMA, Ser 2017-52, Cl DI, IO
4.500%, 07/25/47		5,627,600		841,905
FNMA, Ser 2019-44, Cl CI, IO
4.000%, 08/25/59		4,907,358		992,210
FNMA, Ser 2019-44, Cl PI, IO
4.000%, 08/25/49		4,124,823		762,975
FNMA, Ser 2020-44, Cl MI, IO
2.500%, 01/25/57		11,546,825		1,785,035
FNMA, Ser 2024-25, Cl A
6.000%, 03/25/44		18,446,021		18,739,820
FNMA, Ser 2024-25, Cl AD
5.000%, 03/25/44		23,057,527		22,893,401
GNMA
6.500%, 01/20/54		8,652,062		8,824,202
6.000%, 10/20/54		5,000,000		5,004,498
GNMA, Ser 2013-170, Cl QI, IO
4.069%, 11/20/43 (A)		6,311,284		714,358
GNMA, Ser 2013-42, Cl MI, IO
3.500%, 04/20/41		71,313		154
GNMA, Ser 2013-62, Cl NI, IO
4.000%, 08/20/40		1,564,891		60,652
GNMA, Ser 2014-32, Cl CI, IO
4.000%, 03/20/43		1,527,538		103,488
GNMA, Ser 2014-44, Cl IO, IO
4.000%, 11/16/26		805,062		1,535
GNMA, Ser 2015-103, Cl CI, IO
4.000%, 07/20/45		8,938,656		1,390,191
GNMA, Ser 2015-17, Cl JI, IO
3.500%, 05/20/28		683,095		4,963
GNMA, Ser 2016-99, Cl ID, IO
4.500%, 04/16/44		13,288,798		2,781,555
GNMA, Ser 2017-137, Cl DI, IO
3.000%, 02/20/47		604,532		11,091
GNMA, Ser 2020-189, Cl IJ, IO
2.500%, 12/20/50		18,339,259		2,339,266
GNMA, Ser 2020-191, Cl CT
1.250%, 12/20/50		3,575,440		2,739,885
GNMA, Ser 2021-8, Cl IG, IO
2.500%, 01/20/51		24,475,955		3,037,789
GNMA, Ser 2022-182, Cl PO, PO
0.000%, 10/20/52 (B)(C)		29,686,098		21,382,532
GNMA, Ser 2022-201, Cl PO, PO
0.000%, 11/20/52 (B)(C)		17,838,804		13,364,019
GNMA, Ser 2023-122, Cl G
5.500%, 05/20/46		7,469,647		7,484,481
GNMA, Ser 2023-151, Cl PO, PO
0.000%, 10/20/53 (B)(C)		30,697,606		25,610,288

2

FROST TOTAL RETURN BOND FUND October 31, 2024 (Unaudited)

Description	Face Amount		Value
GNMA, Ser 2023-163, Cl B
6.000%, 02/20/48	$	18,971,663	$	19,253,360
GNMA, Ser 2023-163, Cl LB
6.000%, 02/20/48		10,000,000		10,133,241
GNMA, Ser 2023-196, Cl QA
5.000%, 05/20/53		26,697,583		26,205,309
GNMA, Ser 2023-59, Cl G
6.000%, 03/20/50		8,126,980		8,220,239
GNMA, Ser 2023-93, Cl B
5.500%, 12/20/44		7,401,818		7,500,518
GNMA, Ser 2024-1, Cl TA
5.500%, 08/20/48		7,666,303		7,679,978
GNMA, Ser 2024-19, Cl H
5.500%, 12/20/51		3,089,614		3,096,051
GNMA, Ser 2024-30, Cl NP
5.000%, 02/20/54		5,662,693		5,551,864
				736,499,467
Commercial Mortgage-Backed Obligation — 5.2%
280 Park Avenue Mortgage Trust, Ser 280P, Cl F
7.946%, TSFR1M + 3.127%, 09/15/34 (A)(D)		12,500,000		11,391,365
Bear Stearns Commercial Mortgage Securities Trust, Ser 2007-T26, Cl AJ
5.566%, 01/12/45 (A)		80,528		78,865
Benchmark Mortgage Trust, Ser 2020-B18, Cl E
2.250%, 07/15/53 (D)		8,000,000		3,981,906
Benchmark Mortgage Trust, Ser 2020-B21, Cl D
2.000%, 12/17/53 (D)		13,000,000		8,293,958
Benchmark Mortgage Trust, Ser 2020-IG3, Cl A4
2.437%, 09/15/48 (D)		10,000,000		8,303,886
BX Commercial Mortgage Trust, Ser 2020-VIV3, Cl B
3.544%, 03/09/44 (A)(D)		8,000,000		7,200,594
BXMT, Ser 2020-FL2, Cl A
5.795%, TSFR1M + 1.014%, 02/15/38 (A)(D)		3,513,395		3,395,798
Citigroup Commercial Mortgage Trust, Ser 2015-GC31, Cl C
4.032%, 06/10/48 (A)		5,000,000		2,975,750
COMM Mortgage Trust, Ser 2014-UBS6, Cl C
4.374%, 12/10/47 (A)		4,000,000		3,799,276
COMM Mortgage Trust, Ser 2015-DC1, Cl D
4.274%, 02/10/48 (A)(D)		9,000,000		5,583,191
Commercial Mortgage Trust, Ser 2014-LC15, Cl D
4.766%, 04/10/47 (A)(D)		4,397,921		4,154,183
Credit Suisse First Boston Mortgage Securities, Ser 2005-C2, Cl AMFL
5.145%, TSFR1M + 0.364%, 04/15/37 (A)		10,191		10,181
Credit Suisse First Boston Mortgage Securities, Ser 2005-C2, Cl AMFX
4.877%, 04/15/37		911		907

Description	Face Amount		Value
CSMC Trust, Ser 2019-AFC1, Cl A1
3.573%, 07/25/49 (D)(E)	$	1,943,479	$	1,860,315
DROP Mortgage Trust, Ser 2021-FILE, Cl D
7.669%, TSFR1M + 2.864%, 10/15/43 (A)(D)		15,000,000		12,381,471
FHLMC Military Housing Bonds Resecuritization Trust Certificates, Ser 2015-R1, Cl C3
5.945%, 11/25/52 (A)(D)		31,685,865		27,312,360
Fontainebleau Miami Beach Trust, Ser 2019-FBLU, Cl A
3.144%, 12/10/36 (D)		10,000,000		9,937,911
FREMF Mortgage Trust, Ser 2016-K54, Cl C
4.052%, 04/25/48 (A)(D)		5,000,000		4,902,625
FREMF Mortgage Trust, Ser 2016-K57, Cl C
3.915%, 08/25/49 (A)(D)		8,840,000		8,596,186
GS Mortgage-Backed Securities Trust, Ser 2024-PJ5, Cl A4
6.500%, 09/25/54 (A)(D)		18,514,437		18,588,198
Hudson Yards Mortgage Trust, Ser 2019-30HY, Cl B
3.380%, 07/10/39 (A)(D)		2,500,000		2,237,751
JPMDB Commercial Mortgage Securities Trust, Ser 2016-C2, Cl C
3.323%, 06/15/49 (A)		4,328,000		2,324,716
LStar Commercial Mortgage Trust, Ser 2016-4, Cl AS
3.188%, 03/10/49 (D)		3,000,000		2,899,709
TRTX Issuer, Ser 2021-FL4, Cl C
7.295%, TSFR1M + 2.514%, 03/15/38 (A)(D)		10,000,000		9,873,480
Wells Fargo Commercial Mortgage Trust, Ser 2016-C32, Cl C
4.729%, 01/15/59 (A)		5,000,000		4,683,660
Wells Fargo Commercial Mortgage Trust, Ser 2016-C32, Cl D
3.788%, 01/15/59 (A)(D)		2,000,000		1,839,478
Wells Fargo Commercial Mortgage Trust, Ser 2016-C34, Cl B
4.089%, 06/15/49		5,000,000		4,741,146
Wells Fargo Commercial Mortgage Trust, Ser 2018-AUS, Cl A
4.058%, 08/17/36 (A)(D)		5,000,000		4,784,803
WFRBS Commercial Mortgage Trust, Ser 2014-C25, Cl D
3.803%, 11/15/47 (A)(D)		7,310,000		7,126,214
				183,259,883
Non-Agency Residential Mortgage-Backed Obligation — 6.4%
Angel Oak Mortgage Trust, Ser 2021-4, Cl A3
1.446%, 01/20/65 (A)(D)		1,812,187		1,496,392
Brean Asset Backed Securities Trust, Ser 2023-RM7, Cl A1
4.500%, 03/25/78 (A)(D)		8,035,404		7,610,047
Brean Asset Backed Securities Trust, Ser 2024-RM9, Cl A1
5.000%, 09/25/64 (D)		5,000,000		4,809,618

3

FROST TOTAL RETURN BOND FUND October 31, 2024 (Unaudited)

Description	Face Amount		Value
CAFL Issuer, Ser 2023-RTL1, Cl A2
9.300%, 12/28/30 (D)(E)	$	15,000,000	$	15,235,653
CAFL, Ser 2021-RTL1, Cl A1
2.239%, 03/28/29 (D)(E)		1,201,922		1,188,446
CAFL, Ser 2022-RTL1, Cl A1
4.250%, 05/28/29 (E)		4,522,749		4,516,276
Carrington Mortgage Loan Trust, Ser 2007-FRE1, Cl M8
2.461%, US0001M + 2.250%, 02/25/37 (A)(F)(G)		1,000,000		—
Chase Home Lending Mortgage Trust, Ser 2024-2, Cl A6
6.500%, 02/25/55 (A)(D)		4,892,604		4,928,512
FirstKey Mortgage Trust, Ser 2015-1, Cl A3
3.500%, 03/25/45 (A)(D)		731,676		665,485
Galton Funding Mortgage Trust, Ser 2019-1, Cl A22
4.000%, 02/25/59 (A)(D)		94,899		88,972
Galton Funding Mortgage Trust, Ser 2019-2, Cl A21
4.000%, 06/25/59 (A)(D)		1,100,401		1,014,704
Greystone CRE Notes, Ser 2024-HC3, Cl AS
7.636%, TSFR1M + 2.832%, 03/15/41 (A)(D)		18,000,000		17,989,206
GS Mortgage-Backed Securities Trust, Ser 2024-RPL2, Cl A2
3.957%, 07/25/61 (A)(D)		15,000,000		14,068,450
JP Morgan Mortgage Trust Series, Ser 2024-3, Cl A3
3.000%, 05/25/54 (A)(D)		9,484,871		7,983,862
JP Morgan Mortgage Trust, Ser 2024-2, Cl A3
6.000%, 08/25/54 (A)(D)		6,172,704		6,120,137
JP Morgan Mortgage Trust, Ser 2024-2, Cl B2
7.419%, 08/25/54 (A)(D)		2,973,427		3,126,782
JP Morgan Mortgage Trust, Ser 2024-7, Cl A4
3.000%, 04/25/53 (A)(D)		11,863,886		10,468,854
JP Morgan Mortgage Trust, Ser 2024-9, Cl A4
5.500%, 02/25/55 (A)(D)		4,878,673		4,810,205
JPMorgan Chase Commercial Mortgage Securities, Ser 2007-LD12, Cl AJ
6.349%, 02/15/51 (A)		413,410		409,413
JPMorgan Chase Commercial Mortgage Securities, Ser 2007-LD12, Cl J
5.994%, 02/15/51 (A)(F)(G)		1,000,000		—
MFA Trust, Ser 2022-INV1, Cl A3
4.250%, 04/25/66 (A)(D)		4,000,000		3,338,744
Morgan Stanley Bank of America Merrill Lynch Trust, Ser 2016-C29, Cl C
4.716%, 05/15/49 (A)		2,413,000		2,272,504
PRET, Ser 2021-NPL3, Cl A2
3.721%, 07/25/51 (D)(E)		4,814,253		4,689,381
PRET, Ser 2021-NPL5, Cl A2
4.704%, 10/25/51 (D)(E)		7,027,438		6,848,057

Description	Face Amount		Value
PRET, Ser 2021-RN3, Cl A1
4.843%, 09/25/51 (D)(E)	$	5,564,219	$	5,507,665
PRET, Ser 2021-RN4, Cl A2
5.194%, 10/25/51 (A)(D)		6,000,000		5,960,878
PRET, Ser 2024-NPL3, Cl A1
7.520%, 04/27/54 (D)(E)		5,653,936		5,703,633
PRET, Ser 2024-NPL5, Cl A1
5.963%, 09/25/54 (D)(E)		4,000,000		3,959,147
PRET, Ser 2024-NPL6, Cl A2
8.716%, 10/25/54 (D)(E)		3,000,000		2,999,906
PRET, Ser 2024-NPL7, Cl A2
8.956%, 10/25/54 (D)(E)		4,250,000		4,249,994
PRET, Ser 2024-RN2, Cl A1
7.125%, 04/25/54 (D)(E)		4,971,787		4,977,872
Pretium Mortgage Credit Partners I, Ser 2021-NPL2, Cl A2
3.844%, 06/27/60 (D)(E)		2,779,115		2,579,876
PRPM, Ser 2021-10, Cl A2
7.826%, 10/25/26 (D)(E)		8,032,173		7,998,171
PRPM, Ser 2021-5, Cl A2
6.721%, 06/25/26 (D)(E)		5,128,816		5,055,162
PRPM, Ser 2024-2, Cl A1
7.026%, 03/25/29 (D)(E)		1,836,228		1,837,837
PRPM, Ser 2024-3, Cl A1
6.994%, 05/25/29 (D)(E)		4,522,437		4,524,373
PSMC Trust, Ser 2020-2, Cl A2
3.000%, 05/25/50 (A)(D)		496,793		437,619
RCO VI Mortgage, Ser 2022-1, Cl A2
5.250%, 01/25/27 (D)(E)		5,000,000		4,965,411
Sequoia Mortgage Trust, Ser 2013-4, Cl AIO1, IO
0.844%, 04/25/43 (A)(D)		43,933,269		1,013,962
Sequoia Mortgage Trust, Ser 2024-5, Cl A1
6.500%, 06/25/54 (A)(D)		6,642,839		6,681,593
Sequoia Mortgage Trust, Ser 2024-9, Cl A5
5.500%, 10/25/54 (A)(D)		14,373,565		14,259,681
Toorak Mortgage Trust, Ser 2024-2, Cl A1
6.329%, 10/25/31 (D)(E)		5,000,000		4,999,984
Toorak Mortgage Trust, Ser 2024-RRTL1, Cl M1
9.162%, 02/25/39 (A)(D)		1,500,000		1,512,874
Toorak Mortgage Trust, Ser 2024-RRTL2, Cl A1
5.504%, 09/25/39 (D)(E)		7,000,000		6,929,121
VOLT CIII, Ser 2021-CF1, Cl A2
3.967%, 08/25/51 (D)(E)		3,335,867		2,960,769
VOLT, Ser 2021-CF2, Cl A2
5.316%, 11/27/51 (D)(E)		4,000,000		3,327,716
				226,122,944
Total Mortgage-Backed Securities
(Cost $1,157,112,852)				1,145,882,294
U.S. TREASURY OBLIGATIONS — 29.2%
U.S. Treasury Bonds
4.750%, 11/15/43		25,000,000		25,589,844
4.625%, 05/15/44		35,000,000		35,175,000
4.500%, 02/15/44		35,000,000		34,617,187
4.250%, 02/15/54		20,000,000		19,225,000

4

FROST TOTAL RETURN BOND FUND October 31, 2024 (Unaudited)

Description	Face Amount		Value
4.125%, 08/15/44 to 08/15/53	$	220,000,000	$	206,606,250
4.000%, 11/15/42		95,000,000		88,587,500
3.625%, 02/15/53		35,000,000		30,038,477
3.250%, 05/15/42		125,000,000		105,195,312
U.S. Treasury Inflation Indexed Bonds
0.125%, 10/15/25		10,000,000		11,908,509
U.S. Treasury Notes
4.125%, 09/30/27		75,000,000		75,011,719
4.000%, 01/31/31 to 02/15/34		80,000,000		78,570,312
3.875%, 08/15/34		50,000,000		48,375,000
3.750%, 08/15/27 to 12/31/30		80,000,000		78,604,688
3.625%, 09/30/31		100,000,000		96,421,875
3.375%, 09/15/27		100,000,000		98,000,000
Total U.S. Treasury Obligations
(Cost $1,079,829,618)				1,031,926,673
CORPORATE OBLIGATIONS — 17.7%
Communication Services — 0.4%
Warnermedia Holdings
5.391%, 03/15/62		15,000,000		11,220,593
4.279%, 03/15/32		5,000,000		4,381,666
				15,602,259
Consumer Discretionary — 1.5%
Choice Hotels International
3.700%, 01/15/31		3,000,000		2,709,504
3.700%, 12/01/29		8,000,000		7,419,450
Cruise Yacht Upper HoldCo
11.875%, 07/05/28		2,000,000		2,049,572
Hyundai Capital America
5.300%, 01/08/29(D)		5,000,000		5,038,175
JBS USA Holding Lux Sarl
7.250%, 11/15/53(D)		4,863,000		5,458,178
Nissan Motor Acceptance
7.050%, 09/15/28(D)		2,000,000		2,076,549
STL Holding
8.750%, 02/15/29(D)		8,000,000		8,496,920
VistaJet Malta Finance
7.875%, 05/01/27(D)		14,863,000		14,468,630
6.375%, 02/01/30(D)		2,000,000		1,711,990
				49,428,968
Consumer Staples — 0.7%
J M Smucker
6.200%, 11/15/33		5,000,000		5,340,056
JBS USA Holding Lux Sarl
6.750%, 03/15/34(D)		10,000,000		10,753,430
6.500%, 12/01/52		5,000,000		5,141,357
Philip Morris International
5.125%, 02/15/30		2,500,000		2,530,807
				23,765,650
Energy — 3.1%
Apache
7.750%, 12/15/29		4,138,000		4,539,837
Barclays
9.625%, USISSO05 + 5.775%, 03/15/73(A)		5,000,000		5,501,895
6.692%, SOFRRATE + 2.620%, 09/13/34(A)		2,000,000		2,160,357

Description	Face Amount		Value
Danske Bank
5.705%, H15T1Y + 1.400%, 03/01/30(A)(D)	$	5,000,000	$	5,101,553
Golub Capital Private Credit Fund
5.800%, 09/12/29(D)		2,000,000		1,948,784
New England Power
2.807%, 10/06/50(D)		5,000,000		3,070,439
Paratus Energy Services
9.000% PIK, 07/15/26		2,114,563		2,103,977
9.000% PIK, 07/15/26(D)		4,433,363		4,411,169
Paratus Energy Services
9.500%, 06/27/29		37,500,000		37,171,875
Petroleos Mexicanos
10.000%, 02/07/33		5,000,000		5,299,794
Telford Finco
11.000%, 11/06/29		13,000,000		13,006,760
Waldorf Energy Finance
15.000%, 06/02/73		1,832,387		1,253,353
12.000%, 03/02/26(G)		7,439,085		5,132,968
Waldorf Production UK
13.000%, 09/02/25		11,021,065		11,020,976
13.000%, 09/02/25		10,624,769		10,624,280
				112,348,017
Financials — 7.1%
BAC Capital Trust XIV
5.608%, TSFR3M + 0.662%, 09/15/73(A)		9,870,000		8,427,918
Banco Santander
9.625%, H15T5Y + 5.298%, 02/21/73(A)		5,000,000		5,758,290
Barclays
8.000%, H15T5Y + 5.431%, 12/15/72(A)		30,250,000		31,266,642
Cantor Fitzgerald
7.200%, 12/12/28(D)		1,000,000		1,046,523
Charles Schwab
4.000%, H15T10Y + 3.079%, 03/01/73(A)		2,000,000		1,742,437
Citigroup
6.174%, SOFRRATE + 2.661%, 05/25/34(A)		5,000,000		5,181,486
Comerica
5.982%, SOFRRATE + 2.155%, 01/30/30(A)		10,000,000		10,131,302
4.000%, 02/01/29		13,300,000		12,652,627
Comerica Bank
7.875%, 09/15/26		24,790,000		25,613,399
Credit Suisse Group
5.100%, H15T5Y + 3.293%, 07/24/73(G)		10,000,000		1,000,000
Deutsche Bank
7.500%, USISDA05 + 5.003%, 04/30/73(A)		4,000,000		3,994,687
Deutsche Bank NY
7.146%, SOFRRATE + 2.520%, 07/13/27(A)		4,000,000		4,129,740
7.079%, SOFRRATE + 3.650%, 02/10/34(A)		10,000,000		10,489,657
3.742%, SOFRRATE + 2.257%, 01/07/33(A)		2,000,000		1,722,192
F&G Annuities & Life
7.400%, 01/13/28		7,000,000		7,277,200

5

FROST TOTAL RETURN BOND FUND October 31, 2024 (Unaudited)

Description	Face Amount		Value
Farmers Exchange Capital
7.200%, 07/15/48(D)	$	3,000,000	$	3,103,309
7.050%, 07/15/28(D)		11,075,000		11,541,494
Goldman Sachs Group
3.800%, H15T5Y + 2.969%, 11/10/72(A)		5,000,000		4,787,651
Horace Mann Educators
7.250%, 09/15/28		5,000,000		5,345,162
Intesa Sanpaolo MTN
4.000%, 09/23/29(D)		5,000,000		4,714,744
Jefferies Financial Group MTN
6.000%, 09/16/36		620,000		620,993
JPMorgan Chase
4.979%, SOFRRATE + 0.930%, 07/22/28(A)		10,000,000		10,047,713
KeyBank MTN
5.000%, 01/26/33		5,000,000		4,824,895
4.700%, 01/26/26		20,750,000		20,672,361
KeyCorp
6.401%, SOFRINDX + 2.420%, 03/06/35(A)		5,000,000		5,275,904
4.100%, 04/30/28		7,113,000		6,913,169
Royal Bank of Canada MTN
5.500%, 04/28/33		10,000,000		9,731,486
5.200%, 01/31/33		3,000,000		2,935,303
SBL Holdings
7.000%, H15T5Y + 5.580%, 05/13/73(A)(D)		2,500,000		2,261,532
6.500%, H15T5Y + 5.620%, 11/13/72(A)(D)		14,492,000		12,456,890
Synovus Bank
5.625%, 02/15/28		8,000,000		7,956,465
US Bancorp
5.836%, SOFRRATE + 2.260%, 06/12/34(A)		4,000,000		4,136,091
3.700%, H15T5Y + 2.541%, 01/15/73(A)		3,273,000		3,067,644
				250,826,906
Industrials — 2.3%
AerCap Ireland Capital DAC
6.450%, 04/15/27		3,662,000		3,791,002
Boeing
7.008%, 05/01/64(D)		7,000,000		7,534,772
5.930%, 05/01/60		5,000,000		4,660,427
5.875%, 02/15/40		15,355,000		14,837,036
5.705%, 05/01/40		5,000,000		4,809,852
2.950%, 02/01/30		3,344,000		2,960,657
Brightline East
11.000%, 01/31/30(D)		2,000,000		1,806,151
Brundage-Bone Concrete Pumping Holdings
6.000%, 02/01/26(D)		13,294,000		13,228,474
Burlington Northern Santa Fe
7.290%, 06/01/36		5,000,000		5,981,694
Flowserve
3.500%, 10/01/30		4,000,000		3,655,974
Hawaiian Airlines 2013-1 Class A Pass Through Certificates
3.900%, 01/15/26		5,601,583		5,477,491
Leidos
2.300%, 02/15/31		3,291,000		2,805,354

Description	Face Amount		Value
nVent Finance Sarl
5.650%, 05/15/33	$	3,000,000	$	3,062,132
Regal Rexnord
6.300%, 02/15/30		4,500,000		4,659,937
Twma Finance
13.000%, 02/08/27		3,500,000		3,666,615
				82,937,568
Information Technology — 1.9%
Apple
4.850%, 05/10/53		7,000,000		6,865,625
3.850%, 05/04/43		10,000,000		8,530,076
Avnet
3.000%, 05/15/31		7,000,000		6,013,748
Gartner
3.625%, 06/15/29(D)		3,000,000		2,800,093
Kyndryl Holdings
4.100%, 10/15/41		26,481,000		20,859,389
Motorola Solutions
4.600%, 05/23/29		21,435,000		21,243,596
				66,312,527
Materials — 0.0%
Nacional del Cobre de Chile
3.150%, 01/15/51 (D)		500,000		313,371
Real Estate — 0.2%
GLP Capital
3.250%, 01/15/32‡		750,000		647,905
Invitation Homes Operating Partnership
2.000%, 08/15/31‡		2,000,000		1,638,972
Sabra Health Care
3.200%, 12/01/31‡		3,920,000		3,389,291
				5,676,168
Utilities — 0.5%
Pacific Gas and Electric
4.500%, 07/01/40		11,000,000		9,536,305
3.750%, 08/15/42		5,000,000		3,807,248
Sempra
6.000%, 10/15/39		6,000,000		6,152,605
				19,496,158
Total Corporate Obligations
(Cost $624,443,150)				626,707,592
ASSET-BACKED SECURITIES — 9.0%
Automotive — 5.8%
American Credit Acceptance Receivables Trust, Ser 2023-3, Cl D
6.820%, 10/12/29 (D)		5,000,000		5,115,181
American Credit Acceptance Receivables Trust, Ser 2023-4, Cl D
7.650%, 09/12/30 (D)		15,000,000		15,639,261
American Credit Acceptance Receivables Trust, Ser 2024-1, Cl C
5.630%, 01/14/30 (D)		10,000,000		10,059,894
American Credit Acceptance Receivables Trust, Ser 2024-2, Cl C
6.240%, 04/12/30 (D)		12,000,000		12,185,930

6

FROST TOTAL RETURN BOND FUND October 31, 2024 (Unaudited)

Description	Face Amount		Value
American Credit Acceptance Receivables Trust, Ser 2024-3, Cl B
5.660%, 08/14/28 (D)	$	3,000,000	$	3,024,028
American Credit Acceptance Receivables Trust, Ser 2024-3, Cl C
5.730%, 07/12/30 (D)		8,000,000		8,085,447
American Credit Acceptance Receivables Trust, Ser 2024-3, Cl D
6.040%, 07/12/30 (D)		8,000,000		8,091,790
American Credit Acceptance Receivables Trust, Ser 2024-4, Cl D
5.340%, 08/12/31 (D)		5,000,000		4,958,698
Avid Automobile Receivables Trust, Ser 2023-1, Cl E
11.140%, 05/15/29 (D)		5,595,000		5,701,621
CarNow Auto Receivables Trust, Ser 2021-2A, Cl E
4.450%, 02/15/28 (D)		4,000,000		3,856,750
CarNow Auto Receivables Trust, Ser 2023-1A, Cl E
12.040%, 04/16/29 (D)		5,000,000		4,884,842
Centerline Logistics, Ser 2023-1, Cl A2
9.750%, 12/15/27 (D)		10,761,763		10,893,366
CIG Auto Receivables Trust, Ser 2021-1A, Cl E
4.450%, 05/12/28 (D)		7,000,000		6,932,837
DT Auto Owner Trust, Ser 2021-3A, Cl D
1.310%, 05/17/27 (D)		5,500,000		5,332,427
First Investors Auto Owner Trust, Ser 2022-1A, Cl E
5.410%, 06/15/29 (D)		2,280,000		2,192,127
First Investors Auto Owner Trust, Ser 2023-1A, Cl D
7.740%, 01/15/31 (D)		9,000,000		9,512,101
Flagship Credit Auto Trust, Ser 2020-1, Cl E
3.520%, 06/15/27 (D)		7,931,000		7,809,066
Flagship Credit Auto Trust, Ser 2020-2, Cl E
8.220%, 09/15/27 (D)		8,000,000		8,145,259
Flagship Credit Auto Trust, Ser 2024-3, Cl C
5.410%, 09/16/30 (D)		4,500,000		4,492,757
Ford Credit Auto Lease Trust, Ser 2023-B, Cl C
6.430%, 04/15/27		5,000,000		5,098,202
Foursight Capital Automobile Receivables Trust, Ser 2022-1, Cl E
4.690%, 08/15/29 (D)		4,230,000		3,952,963
GLS Auto Receivables Issuer Trust, Ser 2022-1A, Cl E
5.640%, 05/15/29 (D)		4,000,000		3,898,672
GLS Auto Receivables Issuer Trust, Ser 2022-3A, Cl E
8.350%, 10/15/29 (D)		1,990,000		2,037,474

Description	Face Amount		Value
GLS Auto Receivables Issuer Trust, Ser 2024-3A, Cl C
5.210%, 02/18/31 (D)	$	2,250,000	$	2,255,825
GLS Auto Receivables Issuer Trust, Ser 2024-3A, Cl E
7.250%, 06/16/31 (D)		1,000,000		995,181
Hertz Vehicle Financing, Ser 2021-1A, Cl D
3.980%, 12/26/25 (D)		3,333,333		3,320,959
Octane Receivables Trust, Ser 2021-2A, Cl B
2.020%, 09/20/28 (D)		3,000,000		2,917,840
Prestige Auto Receivables Trust, Ser 2024-2A, Cl D
5.150%, 07/15/30 (D)		4,000,000		3,928,318
Santander Consumer Auto Receivables Trust, Ser 2020-AA, Cl F
10.120%, 01/16/29 (D)		5,340,435		5,348,296
Santander Consumer Auto Receivables Trust, Ser 2020-BA, Cl F
7.030%, 08/15/28 (D)		6,250,000		6,293,106
Tricolor Auto Securitization Trust, Ser 2022-1A, Cl F
9.800%, 07/16/29 (D)		4,000,000		3,995,035
Tricolor Auto Securitization Trust, Ser 2023-1A, Cl F
16.000%, 06/17/30 (D)		11,910,000		12,673,438
United Auto Credit Securitization Trust, Ser 2022-2, Cl D
6.840%, 01/10/28 (D)		5,389,000		5,374,593
Veros Auto Receivables Trust, Ser 2021-1, Cl C
3.640%, 08/15/28 (D)		3,580,966		3,577,188
				202,580,472
Credit Card — 0.3%
Capital One Multi-Asset Execution Trust, Ser 2023-A1, Cl A
4.420%, 05/15/28		4,000,000		3,992,930
Chase Issuance Trust, Ser 2023-A2, Cl A
5.080%, 09/15/30		7,000,000		7,143,142
				11,136,072
Other Asset-Backed Securities — 2.9%
Amur Equipment Finance Receivables IX, Ser 2021-1A, Cl D
2.300%, 11/22/27 (D)		1,250,000		1,244,438
Amur Equipment Finance Receivables XI, Ser 2022-2A, Cl E
9.320%, 10/22/29 (D)		2,600,000		2,629,034
Aqua Finance Trust, Ser 2024-A, Cl A
4.810%, 04/18/50 (D)		5,500,000		5,433,185
BHG Securitization Trust, Ser 2022-B, Cl D
6.690%, 06/18/35 (D)		5,993,367		5,776,862
CAL Funding IV, Ser 2020-1A, Cl B
3.500%, 09/25/45 (D)		1,109,604		1,027,606

7

FROST TOTAL RETURN BOND FUND October 31, 2024 (Unaudited)

Description	Face Amount		Value
CF Hippolyta Issuer, Ser 2020-1, Cl A2
1.990%, 07/15/60 (D)	$	5,230,202	$	4,688,769
CIFC Funding, Ser 2022-2A, Cl A1
5.937%, TSFR3M + 1.320%, 04/19/35 (A)(D)		4,500,000		4,503,438
CIFC Funding, Ser 2022-2A, Cl B
6.467%, TSFR3M + 1.850%, 04/19/35 (A)(D)		9,125,000		9,134,198
CP EF Asset Securitization I, Ser 2022-1A, Cl A
5.960%, 04/15/30 (D)		740,783		741,201
EnFin Residential Solar Receivables Trust, Ser 2024-1A, Cl A
6.650%, 02/20/55 (D)		4,662,952		4,767,601
EnFin Residential Solar Receivables Trust, Ser 2024-1A, Cl B
8.440%, 02/20/55 (D)		3,730,361		3,673,677
EverBright Solar Trust, Ser 2024-A, Cl B
8.130%, 06/22/54 (D)		6,112,899		6,094,109
Global SC Finance VII Srl, Ser 2020-1A, Cl A
2.170%, 10/17/40 (D)		2,181,999		2,049,062
JGWPT XXVI LLC, Ser 2012-2A, Cl B
6.770%, 10/17/61 (D)		1,180,195		1,184,003
Kapitus Asset Securitization, Ser 2022-1A, Cl A
3.382%, 07/10/28 (D)		8,000,000		7,955,637
Libra Solutions, Ser 2023-1A, Cl A
7.000%, 02/15/35 (D)		1,492,021		1,495,282
Libra Solutions, Ser 2023-1A, Cl B
10.250%, 02/15/35 (D)		2,165,220		2,152,321
Mosaic Solar Loan Trust, Ser 2020-2A, Cl B
2.210%, 08/20/46 (D)		2,194,967		1,773,832
Oportun Issuance Trust, Ser 2022-A, Cl C
7.400%, 06/09/31 (D)		3,000,000		3,019,910
Pawneee Equipment Receivables, Ser 2021-1, Cl C
2.300%, 07/15/27 (D)		4,700,000		4,577,761
Pawneee Equipment Receivables, Ser 2022-1, Cl C
6.010%, 07/17/28 (D)		4,000,000		3,975,954
Sapphire Aviation Finance I, Ser 2018-1A, Cl B
5.926%, 03/15/40 (D)		224,627		216,766
Textainer Marine Containers VII, Ser 2020-2A, Cl B
3.340%, 09/20/45 (D)		1,208,793		1,131,990
Textainer Marine Containers VII, Ser 2024-1A, Cl A
5.250%, 08/20/49 (D)		6,888,000		6,818,613
Triton Container Finance VIII, Ser 2020-1A, Cl B
3.740%, 09/20/45 (D)		652,917		609,061
VFI ABS, Ser 2023-1A, Cl B
7.780%, 08/24/29 (D)		10,000,000		10,278,613

Description	Face Amount		Value
VR Funding, Ser 2020-1A, Cl A
2.790%, 11/15/50 (D)	$	5,114,218	$	4,687,312
VR Funding, Ser 2020-1A, Cl C
6.420%, 11/15/50 (D)		3,272,813		3,084,728
				104,724,963
Student Loan — 0.0%
Commonbond Student Loan Trust, Ser 2017-AGS, Cl A1
2.550%, 05/25/41 (D)		877,082		819,242
Total Asset-Backed Securities
(Cost $317,854,368)				319,260,749
COLLATERALIZED LOAN OBLIGATIONS — 4.7%
AMMC CLO 26, Ser 2023-26A, Cl B1
7.106%, TSFR3M + 2.450%, 04/15/36 (A)(D)		7,500,000		7,508,678
Apidos CLO XXX, Ser 2024-XXXA, Cl BR
6.482%, TSFR3M + 1.850%, 10/18/31 (A)(D)		5,170,000		5,163,351
Battalion CLO XXIII, Ser 2024-23A, Cl DR1
8.606%, TSFR3M + 3.950%, 10/15/37 (A)(D)		5,000,000		5,007,560
BlueMountain CLO, Ser 2021-2A, Cl A2R2
7.090%, TSFR3M + 1.962%, 08/20/32 (A)(D)		10,000,000		10,048,000
Carlyle Global Market Strategies, Ser 2018-3A, Cl A1A2
6.098%, TSFR3M + 1.442%, 01/14/32 (A)(D)		17,569,798		17,569,482
Carlyle Global Market Strategies, Ser 2018-5A, Cl A1RR
6.058%, TSFR3M + 1.402%, 07/15/31 (A)(D)		9,348,629		9,362,782
Elmwood CLO V, Ser 2024-2A, Cl D1RR
8.157%, TSFR3M + 3.150%, 10/20/37 (A)(D)		9,000,000		8,984,934
Golub Capital Partners, Ser 2017-21A, Cl AR
6.358%, TSFR3M + 1.732%, 01/25/31 (A)(D)		3,376,551		3,377,334
Golub Capital Partners, Ser 2017-24A, Cl AR
6.416%, TSFR3M + 1.862%, 11/05/29 (A)(D)		3,393,887		3,395,021
Golub Capital Partners, Ser 2021-19RA, Cl B1R2
6.429%, TSFR3M + 1.812%, 04/20/34 (A)(D)		20,000,000		19,993,960
LCM Loan Income Fund I Income Note Issuer, Ser 2018-27A, Cl A1
5.989%, TSFR3M + 1.342%, 07/16/31 (A)(D)		6,212,670		6,219,286
Oaktree CLO, Ser 2021-3A, Cl BR
6.629%, TSFR3M + 2.012%, 10/20/34 (A)(D)		13,500,000		13,493,250

8

FROST TOTAL RETURN BOND FUND October 31, 2024 (Unaudited)

Description	Face Amount		Value
OHA Credit Funding 7, Ser 2022-7A, Cl AR
5.917%, TSFR3M + 1.300%, 02/24/37 (A)(D)	$	25,000,000	$	25,035,875
Texas Debt Capital CLO, Ser 2023-1A, Cl A
6.417%, TSFR3M + 1.800%, 04/20/36 (A)(D)		4,000,000		4,014,560
Venture XIX, Ser 2018-19A, Cl ARR
6.178%, TSFR3M + 1.522%, 01/15/32 (A)(D)		17,663,086		17,677,888
Wind River CLO, Ser 2024-1A, Cl D
8.867%, TSFR3M + 4.250%, 04/20/37 (A)(D)		10,000,000		10,142,740
Total Collateralized Loan Obligations
(Cost $166,734,744)				166,994,701
	Shares
COMMON STOCK — 1.6%
Energy — 1.6%
Paratus Energy Services *		12,800,000		56,505,154
Total Common Stock
(Cost $–)				56,505,154
	Face Amount
U.S. GOVERNMENT AGENCY OBLIGATIONS — 1.6%
FFCB
6.490%, 11/15/38		2,000,000		2,001,424
6.030%, 07/29/39		2,500,000		2,498,041
6.010%, 03/28/44		2,000,000		2,006,876
5.940%, 01/08/44		7,500,000		7,479,454
5.490%, 09/22/42		1,000,000		999,554
5.370%, 04/08/38		2,000,000		1,987,138
5.360%, 06/16/33		2,000,000		1,997,879
FHLB
6.250%, 10/28/54		2,000,000		1,997,406
6.125%, 10/30/54		1,375,000		—
6.000%, 04/12/38 to 07/15/39		17,101,132		17,156,058
5.940%, 04/20/43		2,000,000		2,000,213
5.625%, 02/14/34 to 02/23/39		7,000,000		6,999,079
2.150%, 09/23/36		1,500,000		1,139,945
Tennessee Valley Authority
4.250%, 09/15/52		7,521,000		6,595,446
Total U.S. Government Agency Obligations
(Cost $56,743,330)				54,858,513
MUNICIPAL BONDS — 1.3%
Board of Regents of the University of Texas System, Build America Bonds, Ser D, Cl D, RB
5.134%, 08/15/42		3,000,000		2,973,537
City of Houston Texas, GO
3.961%, 03/01/47		12,000,000		10,320,356
Cornell University
4.835%, 06/15/34		2,000,000		1,999,407
GDB Debt Recovery Authority of Puerto Rico, RB
7.500%, 08/20/40		4,521,545		4,397,203
Mission, Economic Development, RB
8.550%, 12/01/21(F)(G)		2,125,000		21,250

Description	Face Amount		Value
Mission, Economic Development, RB
10.875%, 12/01/28(F)(G)	$	3,315,000	$	33,150
9.750%, 12/01/25(F)(G)		3,045,000		30,450
North Texas Tollway Authority, RB
8.410%, 02/01/30		1,723,000		1,859,021
Northwest Independent School District, Ser A, GO, PSF-GTD
1.776%, 02/15/31		2,000,000		1,707,156
1.836%, 02/15/32		1,890,000		1,575,886
Rhode Island State, Health & Educational System, Providence Public Schools, Ser A, Cl A, RB, CITY APPROP ST AID WITHHLDG
8.000%, 05/15/29		5,000,000		5,010,181
Texas State, Transportation Commission State Highway Fund, Ser B-BUILD, RB
5.178%, 04/01/30		3,980,000		3,997,131
TransJamaican Highway
5.750%, 10/10/36(D)		1,321,069		1,221,989
USAFA Visitor's Center Business Improvement District, Ser B, RB
6.750%, 12/01/42(D)		12,570,000		10,948,021
William Marsh Rice University
2.598%, 05/15/50		1,810,000		1,162,169
Total Municipal Bonds
(Cost $55,737,167)				47,256,907
SOVEREIGN DEBT — 0.3%
Colombia Government International Bond
3.250%, 04/22/32		5,000,000		3,856,440
Kenya Government International Bond
7.250%, 02/28/28 (D)		3,000,000		2,870,973
Provincia de Buenos Aires
6.625%, 09/01/37 (D)(E)		321,736		183,390
Ukraine Government International Bond
1.750%, 08/01/25 to 08/01/25 (E)		2,403,678		1,344,858
0.000%, 02/01/27 to 02/01/27 (E)		1,382,113		610,465
Total Sovereign Debt
(Cost $9,360,864)				8,866,126
	Shares
COMMERCIAL PAPER — 0.8%
Bacardi Martini
5.111%, 11/14/24 (H)		3,200,000		3,193,545
Boston Properties Ltd
4.938%, 11/25/24 (H)		2,100,000		2,092,847
Brookfield Corp
5.124%, 11/08/24 (H)		3,441,000		3,437,043
Brookfield Infrastructure
5.074%, 12/04/24 (H)		2,017,000		2,007,698
Dentsply Sirona Inc
5.311%, 11/14/24 (H)		3,000,000		2,993,658
Dow Chemical
4.923%, 11/20/24 (H)		2,100,000		2,094,260
Glencore Funding LLC
4.982%, 11/04/24 (H)		2,100,000		2,098,844

9

FROST TOTAL RETURN BOND FUND October 31, 2024 (Unaudited)

Description	Shares		Value
Liberty Utilities Co
4.904%, 11/20/24 (H)	$	2,100,000	$	2,094,295
Macquarie International Finance
4.928%, 11/14/24 (H)		1,000,000		998,117
Quanta Service Inc
5.134%, 11/05/24 (H)		3,000,000		2,997,827
Tri-State Generation & Transmission
4.982%, 11/04/24 (H)		1,321,000		1,320,278
VW Credit
4.975%, 11/21/24 (H)		2,100,000		2,094,013
Total Commercial Paper
(Cost $27,426,209)				27,422,425
REPURCHASE AGREEMENT(I) — 1.2%
Tri Party Overnight
4.800%, dated 10/31/2024, to be repurchased on 11/01/2024, repurchase price $44,005,867 (collateralized by various Government Obligations, ranging in par value $9 - $10,000,000, 0.750% - 9.250%, 01/30/2030 - 07/20/2054, with a total market value of $45,254,432)		44,000,000		44,000,000
Total Repurchase Agreement
(Cost $44,000,000)				44,000,000
Total Investments — 99.8%
(Cost $3,539,242,302)			$	3,529,681,134
Percentages are based on Net Assets of $3,535,645,349.

*	Non-income producing security.
‡	Real Estate Investment Trust
(A)	Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates.
(B)	Zero coupon security. The rate reported on the Schedule of Investments is the effective yield at the time of purchase.
(C)	PO - Principal Only
(D)	Securities sold within terms of a private placement memorandum, exempt from registration under Section 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other "accredited investors." The total value of such securities at October 31, 2024 was $992,158,854 and represents 28.1% of Net Assets.
(E)	Step Bonds — The rate reflected on the Schedule of Investments is the effective yield on October 31, 2024. The coupon on a step bond changes on a specific date.
(F)	Level 3 security in accordance with fair value hierarchy.
(G)	Security in default on interest payments.
(H)	Interest rate represents the security’s effective yield at the time of purchase.
(I)	Tri-Party Repurchase Agreement.

See “Glossary” for abbreviations.

FIA-QH-001-3400

10

FROST CREDIT FUND October 31, 2024 (Unaudited)

Description	Face Amount		Value
CORPORATE OBLIGATIONS — 41.8%
Communication Services — 2.7%
ANGI Group
3.875%, 08/15/28(A)	$	2,000,000	$	1,809,574
News
5.125%, 02/15/32(A)		2,000,000		1,916,582
Sirius XM Radio
3.875%, 09/01/31(A)		3,000,000		2,578,001
Stagwell Global
5.625%, 08/15/29(A)		2,000,000		1,901,838
Warnermedia Holdings
4.279%, 03/15/32		2,750,000		2,409,916
				10,615,911
Consumer Discretionary — 6.7%
Airswift Global
10.000%, 02/28/29(A)		3,000,000		3,082,779
American Axle & Manufacturing
5.000%, 10/01/29		1,000,000		904,756
APX Group
5.750%, 07/15/29(A)		3,000,000		2,960,304
Beazer Homes USA
7.250%, 10/15/29(A)		1,000,000		1,016,511
Bloomin' Brands
5.125%, 04/15/29(A)		2,500,000		2,318,223
Choice Hotels International
5.850%, 08/01/34		2,000,000		2,011,455
3.700%, 12/01/29		2,000,000		1,854,862
Cruise Yacht Upper HoldCo
11.875%, 07/05/28		4,000,000		4,099,145
Dillard's
7.000%, 12/01/28		500,000		523,834
Newell Brands
6.375%, 05/15/30		500,000		502,285
Nissan Motor Acceptance
7.050%, 09/15/28(A)		1,000,000		1,038,275
STL Holding
8.750%, 02/15/29(A)		2,000,000		2,124,230
Upbound Group
6.375%, 02/15/29(A)		1,000,000		951,548
VistaJet Malta Finance
7.875%, 05/01/27(A)		2,500,000		2,433,666
				25,821,873
Consumer Staples — 2.5%
J M Smucker
6.500%, 11/15/53		2,000,000		2,201,641
JBS USA Holding Lux Sarl
6.750%, 03/15/34(A)		2,000,000		2,150,686
6.500%, 12/01/52		1,000,000		1,028,271
Philip Morris International
5.125%, 02/15/30		2,000,000		2,024,645
Walgreens Boots Alliance
4.800%, 11/18/44		3,000,000		2,206,983
				9,612,226
Energy — 5.1%
Aircastle
5.750%, 10/01/31(A)		3,500,000		3,553,591
Borr IHC
10.000%, 11/15/28(A)		1,153,902		1,179,998
Colonial Pipeline
8.375%, 11/01/30(A)		1,500,000		1,712,798
Oglethorpe Power
5.800%, 06/01/54(A)		2,000,000		2,035,772

Description	Face Amount		Value
PBF Holding
7.875%, 09/15/30(A)	$	2,000,000	$	1,996,583
Southern Natural Gas
4.800%, 03/15/47(A)		3,000,000		2,554,312
Summit Midstream Holdings
8.625%, 10/31/29(A)		500,000		516,582
Telford Finco
11.000%, 11/06/29		1,500,000		1,500,780
Topaz Solar Farms
5.750%, 09/30/39(A)		4,706,012		4,688,144
				19,738,560
Financials — 8.0%
Arthur J Gallagher
5.750%, 07/15/54		2,000,000		2,012,592
Bank of America
5.518%, SOFRRATE + 1.738%, 10/25/35(B)		3,000,000		2,977,570
Brown & Brown
5.650%, 06/11/34		3,000,000		3,053,359
Charles Schwab
4.000%, H15T10Y + 3.079%, 03/01/73(B)		2,500,000		2,178,046
Deutsche Bank NY
7.146%, SOFRRATE + 2.520%, 07/13/27(B)		1,000,000		1,032,435
Discover Financial Services
6.700%, 11/29/32		2,000,000		2,151,673
F&G Annuities & Life
7.400%, 01/13/28		3,000,000		3,118,800
Golub Capital BDC
7.050%, 12/05/28		800,000		831,825
Huntington National Bank
5.699%, SOFRRATE + 1.215%, 11/18/25(B)		1,500,000		1,499,965
LPL Holdings
6.000%, 05/20/34		3,000,000		3,060,570
Royal Bank of Canada MTN
5.200%, 01/31/33		1,000,000		978,434
Swedbank
7.750%, H15T5Y + 3.657%, 09/17/73(B)		2,000,000		2,085,000
Synchrony Bank
5.625%, 08/23/27		1,000,000		1,007,658
Synchrony Financial
5.935%, SOFRINDX + 2.130%, 08/02/30(B)		500,000		507,901
Synovus Financial
6.168%, SOFRRATE + 2.347%, 11/01/30(B)		500,000		499,912
UBS Group
6.373%, SOFRRATE + 3.340%, 07/15/26(A)(B)		1,000,000		1,007,695
US Bancorp
5.836%, SOFRRATE + 2.260%, 06/12/34(B)		1,000,000		1,034,023
Westpac Banking
2.894%, H15T5Y + 1.350%, 02/04/30(B)		2,000,000		1,984,832
				31,022,290
Industrials — 9.0%
Boeing
5.150%, 05/01/30		2,000,000		1,973,876

11

FROST CREDIT FUND October 31, 2024 (Unaudited)

Description	Face Amount		Value
2.196%, 02/04/26	$	1,000,000	$	963,042
Brundage-Bone Concrete Pumping Holdings
6.000%, 02/01/26(A)		4,103,000		4,082,776
Burlington Northern Santa Fe
5.500%, 03/15/55		4,000,000		4,089,613
Concentrix
6.850%, 08/02/33		2,000,000		2,014,669
Flowserve
3.500%, 10/01/30		2,000,000		1,827,987
GATX
6.050%, 03/15/34		2,000,000		2,098,685
Hexcel
4.950%, 08/15/25		2,000,000		1,992,340
Huntington Ingalls Industries
4.200%, 05/01/30		3,000,000		2,861,567
Icahn Enterprises
9.750%, 01/15/29		1,000,000		999,248
Lockheed Martin
5.250%, 01/15/33		1,500,000		1,543,210
Molex Electronic Technologies
3.900%, 04/15/25(A)		3,000,000		2,978,028
nVent Finance Sarl
5.650%, 05/15/33		1,000,000		1,020,711
Owens Corning
5.950%, 06/15/54		3,000,000		3,084,166
Regal Rexnord
6.300%, 02/15/30		1,500,000		1,553,312
Twma Finance
13.000%, 02/08/27		1,500,000		1,571,407
				34,654,637
Information Technology — 4.7%
Apple
3.850%, 05/04/43		2,000,000		1,706,015
Consensus Cloud Solutions
6.000%, 10/15/26(A)		2,000,000		1,978,178
Corning
5.450%, 11/15/79		2,000,000		1,873,103
Crowdstrike Holdings
3.000%, 02/15/29		3,000,000		2,728,006
Flex
5.250%, 01/15/32		2,000,000		1,982,251
Hewlett Packard Enterprise
5.000%, 10/15/34		4,000,000		3,881,613
Kyndryl Holdings
4.100%, 10/15/41		4,929,000		3,882,630
				18,031,796
Real Estate — 1.8%
GLP Capital
6.750%, 12/01/33‡		1,000,000		1,068,310
3.250%, 01/15/32‡		2,500,000		2,159,682
Host Hotels & Resorts
5.500%, 04/15/35‡		2,000,000		1,962,125
Sabra Health Care
3.200%, 12/01/31‡		2,000,000		1,729,230
				6,919,347
Utilities — 1.3%
Entergy
7.125%, H15T5Y + 2.670%, 12/01/54(B)		3,000,000		3,067,137
Entergy Texas
5.550%, 09/15/54		1,000,000		994,797

Description	Face Amount		Value
Pacific Gas and Electric
4.500%, 07/01/40	$	1,000,000	$	866,937
				4,928,871
Total Corporate Obligations
(Cost $160,694,626)				161,345,511
COLLATERALIZED LOAN OBLIGATIONS — 18.7%
610 Funding CLO 2, Ser 2024-2RA, Cl BR3
6.967%, TSFR3M + 2.350%, 01/20/34 (A)(B)		2,000,000		2,003,052
Apidos CLO XI, Ser 2021-11A, Cl ER3
11.479%, TSFR3M + 6.832%, 04/17/34 (A)(B)		1,000,000		998,091
Apidos CLO XL, Ser 2024-40A, Cl CR
6.606%, TSFR3M + 1.950%, 07/15/37 (A)(B)		5,000,000		5,000,420
Apidos CLO XL, Ser 2024-40A, Cl ER
10.256%, TSFR3M + 5.600%, 07/15/37 (A)(B)		1,000,000		999,323
Bain Capital Credit CLO, Ser 2024-2A, Cl AR2
5.778%, TSFR3M + 1.130%, 10/17/32 (A)(B)		2,993,153		2,994,245
Battalion CLO 17, Ser 2024-17A, Cl CR
6.867%, TSFR3M + 2.250%, 03/09/34 (A)(B)		5,000,000		5,011,345
Battalion CLO XXIII, Ser 2024-23A, Cl BR
6.456%, TSFR3M + 1.800%, 10/15/37 (A)(B)		2,000,000		1,998,920
Battalion CLO XXIII, Ser 2024-23A, Cl DR1
8.606%, TSFR3M + 3.950%, 10/15/37 (A)(B)		3,000,000		3,004,536
BlueMountain XXX, Ser 2022-30A, Cl ER
11.356%, TSFR3M + 6.700%, 04/15/35 (A)(B)		2,000,000		1,977,344
Carlyle Global Market Strategies, Ser 2018-1A, Cl CR2
6.709%, TSFR3M + 2.062%, 04/17/31 (A)(B)		1,250,000		1,252,308
Chenango Park, Ser 2018-1A, Cl B
6.768%, TSFR3M + 2.112%, 04/15/30 (A)(B)		1,000,000		998,936
CIFC Funding, Ser 2018-1A, Cl C
6.644%, TSFR3M + 2.012%, 04/18/31 (A)(B)		500,000		500,119
CIFC Funding, Ser 2024-4A, Cl CR
7.073%, TSFR3M + 1.900%, 07/23/37 (A)(B)		1,750,000		1,747,847
Dryden 76 CLO, Ser 2024-76A, Cl BR2
6.406%, TSFR3M + 1.750%, 10/15/37 (A)(B)		3,000,000		2,998,380

12

FROST CREDIT FUND October 31, 2024 (Unaudited)

Description	Face Amount		Value
GoldenTree Loan Management US CLO 14, Ser 2024-14A, Cl CR
6.517%, TSFR3M + 1.900%, 07/20/37 (A)(B)	$	5,000,000	$	5,000,515
GoldenTree Loan Management US CLO 19, Ser 2024-19A, Cl B
6.517%, TSFR3M + 1.900%, 04/20/37 (A)(B)		3,000,000		3,017,589
Golub Capital Partners, Ser 2017-17A, Cl BR
7.788%, TSFR3M + 3.162%, 10/25/30 (A)(B)		1,500,000		1,514,460
Golub Capital Partners, Ser 2017-21A, Cl CR
7.338%, TSFR3M + 2.712%, 01/25/31 (A)(B)		3,000,000		2,996,076
Golub Capital Partners, Ser 2017-24A, Cl DR
8.716%, TSFR3M + 4.162%, 11/05/29 (A)(B)		2,000,000		2,003,762
Golub Capital Partners, Ser 2018-26A, Cl BR
6.429%, TSFR3M + 1.812%, 04/20/31 (A)(B)		1,000,000		999,480
Golub Capital Partners, Ser 2018-36A, Cl B
6.466%, TSFR3M + 1.912%, 02/05/31 (A)(B)		2,000,000		2,000,952
Golub Capital Partners, Ser 2018-36A, Cl C
6.916%, TSFR3M + 2.362%, 02/05/31 (A)(B)		1,500,000		1,496,547
LCM XXII, Ser 2018-22A, Cl BR
6.879%, TSFR3M + 2.262%, 10/20/28 (A)(B)		1,500,000		1,501,442
Magnetite XXIX, Ser 2024-29A, Cl BR
6.992%, TSFR3M + 1.750%, 07/15/37 (A)(B)		4,000,000		3,998,992
Magnetite XXIX, Ser 2024-29A, Cl DR
8.292%, TSFR3M + 3.050%, 07/15/37 (A)(B)		3,000,000		3,032,793
Magnetite XXXVIII, Ser 2024-38A, Cl B
6.656%, TSFR3M + 2.000%, 04/15/37 (A)(B)		2,000,000		2,016,630
Magnetite XXXVIII, Ser 2024-38A, Cl D
8.156%, TSFR3M + 3.500%, 04/15/37 (A)(B)		1,000,000		1,018,180
Magnetite XXXVIII, Ser 2024-38A, Cl E
11.156%, TSFR3M + 6.500%, 04/15/37 (A)(B)		1,000,000		1,012,543
MCF CLO VIII, Ser 2024-1A, Cl BR
7.032%, TSFR3M + 2.400%, 04/18/36 (A)(B)		3,000,000		3,025,977
Race Point IX, Ser 2017-9A, Cl BR
7.068%, TSFR3M + 2.412%, 10/15/30 (A)(B)		4,000,000		3,995,728

Description	Face Amount		Value
Race Point IX, Ser 2017-9A, Cl DR
11.818%, TSFR3M + 7.162%, 10/15/30 (A)(B)	$	2,000,000	$	1,885,552
Total Collateralized Loan Obligations
(Cost $71,939,454)				72,002,084
ASSET-BACKED SECURITIES — 17.7%
Automotive — 11.1%
American Credit Acceptance Receivables Trust, Ser 2021-4, Cl E
3.120%, 02/14/28 (A)		1,500,000		1,483,296
American Credit Acceptance Receivables Trust, Ser 2022-1, Cl F
4.870%, 11/13/28 (A)		2,600,000		2,575,274
American Credit Acceptance Receivables Trust, Ser 2023-3, Cl D
6.820%, 10/12/29 (A)		1,000,000		1,023,036
American Credit Acceptance Receivables Trust, Ser 2023-4, Cl D
7.650%, 09/12/30 (A)		1,000,000		1,042,617
American Credit Acceptance Receivables Trust, Ser 2024-3, Cl D
6.040%, 07/12/30 (A)		3,000,000		3,034,421
American Credit Acceptance Receivables Trust, Ser 2024-4, Cl D
5.340%, 08/12/31 (A)		2,000,000		1,983,479
Arivo Acceptance Auto Loan Receivables Trust, Ser 2024-1A, Cl C
7.650%, 07/15/30 (A)		1,000,000		1,024,756
Avid Automobile Receivables Trust, Ser 2021-1, Cl F
5.160%, 10/16/28 (A)		2,000,000		1,947,948
Bridgecrest Lending Auto Securitization Trust, Ser 2024-3, Cl D
5.830%, 05/15/30		2,250,000		2,273,061
CarNow Auto Receivables Trust, Ser 2021-2A, Cl E
4.450%, 02/15/28 (A)		1,000,000		964,188
Carvana Auto Receivables Trust, Ser 2021-N2, Cl E
2.900%, 03/10/28 (A)		1,349,742		1,289,130
CIG Auto Receivables Trust, Ser 2021-1A, Cl E
4.450%, 05/12/28 (A)		1,590,000		1,574,744
Credit Acceptance Auto Loan Trust, Ser 2024-2A, Cl C
6.700%, 10/16/34 (A)		3,000,000		3,069,921
DT Auto Owner Trust, Ser 2020-3A, Cl E
3.620%, 10/15/27 (A)		1,500,000		1,493,509
Exeter Automobile Receivables Trust, Ser 2022-2A, Cl E
6.340%, 10/15/29 (A)		1,443,000		1,422,027

13

FROST CREDIT FUND October 31, 2024 (Unaudited)

Description	Face Amount		Value
Exeter Automobile Receivables Trust, Ser 2024-5A, Cl E
7.220%, 05/17/32 (A)	$	3,250,000	$	3,184,651
Foursight Capital Automobile Receivables Trust, Ser 2022-1, Cl E
4.690%, 08/15/29 (A)		1,000,000		934,507
GLS Auto Receivables Issuer Trust, Ser 2021-4A, Cl E
4.430%, 10/16/28 (A)		1,500,000		1,442,817
GLS Auto Receivables Issuer Trust, Ser 2024-3A, Cl E
7.250%, 06/16/31 (A)		3,000,000		2,985,542
GLS Auto Select Receivables Trust, Ser 2024-3A, Cl C
5.920%, 08/15/30 (A)		1,357,000		1,377,155
Lendbuzz Securitization Trust, Ser 2024-3A, Cl C
5.900%, 11/15/31 (A)		600,000		591,747
Prestige Auto Receivables Trust, Ser 2024-1A, Cl D
6.210%, 02/15/30 (A)		2,000,000		2,035,196
Prestige Auto Receivables Trust, Ser 2024-2A, Cl E
6.750%, 11/17/31 (A)		1,500,000		1,470,215
SAFCO Auto Receivables Trust, Ser 2024-1A, Cl E
10.850%, 01/18/30 (A)		500,000		507,479
Tricolor Auto Securitization Trust, Ser 2022-1A, Cl F
9.800%, 07/16/29 (A)		1,000,000		998,759
Tricolor Auto Securitization Trust, Ser 2023-1A, Cl F
16.000%, 06/17/30 (A)		1,000,000		1,064,101
				42,793,576
Credit Card — 0.6%
Mercury Financial Credit Card Master Trust, Ser 2024-2A, Cl A
6.560%, 07/20/29 (A)		2,500,000		2,523,629
Other Asset-Backed Securities — 6.0%
Amur Equipment Finance Receivables X, Ser 2022-1A, Cl E
5.020%, 12/20/28 (A)		1,348,000		1,340,885
Amur Equipment Finance Receivables XIII, Ser 2024-1A, Cl E
9.660%, 04/20/32 (A)		1,550,000		1,596,020
Amur Equipment Finance Receivables XIV, Ser 2024-2A, Cl D
5.970%, 10/20/31 (A)		800,000		807,870
Aqua Finance Trust, Ser 2024-A, Cl A
4.810%, 04/18/50 (A)		2,000,000		1,975,704
Audax Senior Debt 6, Ser 2021-6A, Cl B
6.829%, TSFR3M + 2.212%, 10/20/33 (A)(B)		1,000,000		1,005,681
BHG Securitization Trust, Ser 2022-B, Cl D
6.690%, 06/18/35 (A)		998,895		962,810

Description	Face Amount		Value
CLI Funding IX, Ser 2024-1A, Cl B
5.660%, 07/20/49 (A)	$	1,952,750	$	1,943,125
CLI Funding IX, Ser 2024-1A, Cl C
6.000%, 07/20/49 (A)		976,375		971,452
CP EF Asset Securitization I, Ser 2022-1A, Cl A
5.960%, 04/15/30 (A)		148,157		148,240
Credibly Asset Securitization II, Ser 2024-1A, Cl C
8.620%, 11/15/29 (A)		2,537,000		2,556,349
EnFin Residential Solar Receivables Trust, Ser 2024-1A, Cl B
8.440%, 02/20/55 (A)		932,590		918,419
Kapitus Asset Securitization, Ser 2022-1A, Cl A
3.382%, 07/10/28 (A)		1,500,000		1,491,682
Libra Solutions, Ser 2023-1A, Cl B
10.250%, 02/15/35 (A)		298,404		296,626
Mosaic Solar Loans, Ser 2017-2A, Cl B
4.770%, 06/22/43 (A)		155,508		136,974
NMEF Funding, Ser 2024-A, Cl C
6.330%, 12/15/31 (A)		500,000		497,583
Pawneee Equipment Receivables, Ser 2021-1, Cl E
5.210%, 05/15/28 (A)		353,000		345,817
Pawneee Equipment Receivables, Ser 2022-1, Cl C
6.010%, 07/17/28 (A)		1,000,000		993,989
Sapphire Aviation Finance I, Ser 2018-1A, Cl B
5.926%, 03/15/40 (A)		37,438		36,128
SCF Equipment Leasing, Ser 2021-1A, Cl D
1.930%, 09/20/30 (A)		1,500,000		1,469,319
Textainer Marine Containers VII, Ser 2024-1A, Cl B
5.340%, 08/20/49 (A)		2,952,000		2,919,460
TIC Home Improvement Trust, Ser 2024-A, Cl B
7.890%, 10/15/46 (A)		500,000		512,762
				22,926,895
Total Asset-Backed Securities
(Cost $68,288,200)				68,244,100
MORTGAGE-BACKED SECURITIES — 5.6%
Commercial Mortgage-Backed Obligation — 1.3%
Benchmark Mortgage Trust, Ser 2020-B21, Cl D
2.000%, 12/17/53 (A)		1,000,000		637,997
BXMT, Ser 2020-FL2, Cl A
5.795%, TSFR1M + 1.014%, 02/15/38 (A)(B)		270,261		261,215
COMM Mortgage Trust, Ser 2014-UBS6, Cl C
4.374%, 12/10/47 (B)		1,000,000		949,819
COMM Mortgage Trust, Ser 2015-DC1, Cl D
4.274%, 02/10/48 (A)(B)		1,517,000		941,078

14

FROST CREDIT FUND October 31, 2024 (Unaudited)

Description	Face Amount		Value
FREMF Mortgage Trust, Ser 2016-K54, Cl C
4.052%, 04/25/48 (A)(B)	$	1,000,000	$	980,525
WFRBS Commercial Mortgage Trust, Ser 2014-C25, Cl D
3.803%, 11/15/47 (A)(B)		1,000,000		974,858
				4,745,492
Non-Agency Residential Mortgage-Backed Obligation — 4.3%
Brean Asset Backed Securities Trust, Ser 2023-RM7, Cl A1
4.500%, 03/25/78 (A)(B)		892,823		845,561
Brean Asset Backed Securities Trust, Ser 2024-RM9, Cl A1
5.000%, 09/25/64 (A)		1,000,000		961,924
CAFL Issuer, Ser 2023-RTL1, Cl A2
9.300%, 12/28/30 (A)(C)		2,000,000		2,031,420
Chase Home Lending Mortgage Trust, Ser 2024-2, Cl A6
6.500%, 02/25/55 (A)(B)		815,434		821,419
Greystone CRE Notes, Ser 2024-HC3, Cl AS
7.636%, TSFR1M + 2.832%, 03/15/41 (A)(B)		2,000,000		1,998,801
PRET, Ser 2021-NPL3, Cl A2
3.721%, 07/25/51 (A)(C)		506,231		493,100
PRET, Ser 2021-RN3, Cl A1
4.843%, 09/25/51 (A)(C)		618,247		611,963
PRET, Ser 2021-RN4, Cl A2
5.194%, 10/25/51 (A)(B)		1,850,000		1,837,937
PRET, Ser 2024-RN2, Cl A1
7.125%, 04/25/54 (A)(C)		2,253,214		2,255,972
PRPM, Ser 2021-10, Cl A2
7.826%, 10/25/26 (A)(C)		1,004,022		999,771
RCO VI Mortgage, Ser 2022-1, Cl A2
5.250%, 01/25/27 (A)(C)		1,000,000		993,082
Toorak Mortgage Trust, Ser 2024-2, Cl A1
6.329%, 10/25/31 (A)(C)		1,000,000		999,997
Toorak Mortgage Trust, Ser 2024-RRTL2, Cl A1
5.504%, 09/25/39 (A)(C)		1,000,000		989,874
VOLT, Ser 2021-CF2, Cl A2
5.316%, 11/27/51 (A)(C)		1,000,000		831,929
				16,672,750
Total Mortgage-Backed Securities
(Cost $21,985,202)				21,418,242
	Shares
PREFERRED STOCK — 0.0%
Communication Services — 0.0%
MYT Holding LLC
10.000%, 06/07/29 (A)		64,528		53,558
Total Preferred Stock
(Cost $64,528)				53,558
COMMERCIAL PAPER — 5.0%
Bacardi Martini
5.111%, 11/14/24 (D)		2,000,000		1,995,966
Boston Properties Ltd
4.938%, 11/25/24 (D)		2,000,000		1,993,188

Description	Shares		Value
Brookfield Corp
5.126%, 11/08/24 (D)	$	2,000,000	$	1,997,700
Brookfield Infrastructure
5.074%, 12/04/24 (D)		2,000,000		1,990,776
Dentsply Sirona Inc
5.311%, 11/14/24 (D)		2,000,000		1,995,772
Dow Chemical
4.924%, 11/20/24 (D)		2,000,000		1,994,533
Glencore Funding LLC
4.982%, 11/04/24 (D)		2,000,000		1,998,899
Liberty Utilities Co
4.904%, 11/20/24 (D)		2,000,000		1,994,566
Quanta Service Inc
5.134%, 11/05/24 (D)		2,000,000		1,998,552
VW Credit
4.974%, 11/21/24 (D)		1,450,000		1,445,866
Total Commercial Paper
(Cost $19,408,399)				19,405,818
REPURCHASE AGREEMENT(E) — 10.9%
Tri Party Overnight
4.800%, dated 10/31/2024, to be repurchased on 11/01/2024, repurchase price $42,005,600 (collateralized by various Government Obligations, ranging in par value $499,987 - $14,961,664, 0.750% - 6.125%, 07/09/2030 - 10/25/2054, with a total market value of $43,217,743)		42,000,000		42,000,000
Total Repurchase Agreement
(Cost $42,000,000)				42,000,000
Total Investments — 99.7%
(Cost $384,380,409)			$	384,469,313
Percentages are based on Net Assets of $385,649,239.

‡	Real Estate Investment Trust
(A)	Securities sold within terms of a private placement memorandum, exempt from registration under Section 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other "accredited investors." The total value of such securities at October 31, 2024 was $213,061,778 and represents 55.2% of Net Assets.
(B)	Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates.
(C)	Step Bonds — The rate reflected on the Schedule of Investments is the effective yield on October 31, 2024. The coupon on a step bond changes on a specific date.
(D)	Interest rate represents the security’s effective yield at the time of purchase.
(E)	Tri-Party Repurchase Agreement.

See “Glossary” for abbreviations.

FIA-QH-001-3400

15

FROST LOW DURATION BOND FUND October 31, 2024 (Unaudited)

Description	Face Amount		Value
U.S. TREASURY OBLIGATIONS — 38.6%
U.S. Treasury Notes
4.375%, 11/30/28	$	25,000,000	$	25,192,383
4.000%, 02/29/28 to 01/31/29		70,000,000		69,593,945
3.875%, 10/15/27		10,000,000		9,931,250
Total U.S. Treasury Obligations
(Cost $104,178,942)				104,717,578
ASSET-BACKED SECURITIES — 30.9%
Automotive — 14.0%
American Credit Acceptance Receivables Trust, Ser 2023-3, Cl C
6.440%, 10/12/29 (A)		5,000,000		5,064,794
American Credit Acceptance Receivables Trust, Ser 2024-3, Cl C
5.730%, 07/12/30 (A)		2,000,000		2,021,362
Arivo Acceptance Auto Loan Receivables Trust, Ser 2022-1A, Cl A
3.930%, 05/15/28 (A)		179,371		178,212
Carmax Auto Owner Trust, Ser 2022-4, Cl D
8.080%, 04/16/29		1,500,000		1,567,684
Credit Acceptance Auto Loan Trust, Ser 2021-3A, Cl C
1.630%, 09/16/30 (A)		1,068,712		1,066,905
DT Auto Owner Trust, Ser 2022-2A, Cl D
5.460%, 03/15/28 (A)		4,000,000		3,996,187
Flagship Credit Auto Trust, Ser 2022-4, Cl B
6.780%, 10/15/27 (A)		1,500,000		1,518,450
Flagship Credit Auto Trust, Ser 2024-3, Cl B
5.350%, 07/16/29 (A)		5,000,000		4,995,475
Foursight Capital Automobile Receivables Trust, Ser 2022-1, Cl D
3.070%, 05/15/28 (A)		4,780,000		4,653,869
GLS Auto Receivables Issuer Trust, Ser 2021-2A, Cl D
1.420%, 04/15/27 (A)		16,842		16,521
Lendbuzz Securitization Trust, Ser 2024-2A, Cl B
6.520%, 07/16/29 (A)		1,250,000		1,278,290
Octane Receivables Trust, Ser 2021-2A, Cl A
1.210%, 09/20/28 (A)		161,229		159,577
Prestige Auto Receivables Trust, Ser 2021-1A, Cl D
2.080%, 02/15/28 (A)		4,000,000		3,836,298
Prestige Auto Receivables Trust, Ser 2023-2A, Cl C
7.120%, 08/15/29 (A)		4,250,000		4,385,583
Westlake Automobile Receivables Trust, Ser 2023-2A, Cl D
7.010%, 11/15/28 (A)		3,000,000		3,082,518
				37,821,725

Description	Face Amount		Value
Credit Card — 2.9%
Continental Finance Credit Card ABS Master Trust, Ser 2021-A, Cl A
2.550%, 12/17/29 (A)	$	5,000,000	$	4,951,432
Genesis Sales Finance Master Trust, Ser 2021-AA, Cl A
1.200%, 12/21/26 (A)		1,028,078		1,019,684
World Financial Network Credit Card Master Trust, Ser 2024-A, Cl A
5.470%, 02/15/31		2,000,000		2,030,376
				8,001,492
Other Asset-Backed Securities — 13.9%
Amur Equipment Finance Receivables X, Ser 2022-1A, Cl D
2.910%, 08/21/28 (A)		2,000,000		1,960,082
Aqua Finance Trust, Ser 2021-A, Cl B
2.400%, 07/17/46 (A)		1,000,000		850,444
BHG Securitization Trust, Ser 2021-B, Cl A
0.900%, 10/17/34 (A)		146,969		145,983
BXG Receivables Note Trust, Ser 2023-A, Cl A
5.770%, 11/15/38 (A)		3,398,430		3,435,160
CLI Funding VI, Ser 2020-1A, Cl A
2.080%, 09/18/45 (A)		1,463,507		1,335,588
CP EF Asset Securitization I, Ser 2022-1A, Cl A
5.960%, 04/15/30 (A)		592,626		592,961
Hilton Grand Vacations Trust, Ser 2024-1B, Cl B
5.990%, 09/15/39 (A)		602,923		603,453
Hilton Grand Vacations Trust, Ser 2024-2A, Cl C
5.990%, 03/25/38 (A)		2,150,493		2,157,916
Hilton Grand Vacations Trust, Ser 2024-3A, Cl A
4.980%, 08/27/40 (A)		3,000,000		2,995,679
Mosaic Solar Loan Trust, Ser 2021-3A, Cl B
1.920%, 06/20/52 (A)		643,671		473,913
Mosaic Solar Loans, Ser 2017-1A, Cl A
4.450%, 06/20/42 (A)		148,693		144,056
New Economy Assets Phase 1 Sponsor, Ser 2021-1, Cl A1
1.910%, 10/20/61 (A)		2,000,000		1,827,472
Oportun Issuance Trust, Ser 2021-B, Cl A
1.470%, 05/08/31 (A)		1,244,683		1,206,541
Oportun Issuance Trust, Ser 2022-A, Cl C
7.400%, 06/09/31 (A)		2,030,000		2,043,472
Pawneee Equipment Receivables, Ser 2022-1, Cl C
6.010%, 07/17/28 (A)		5,000,000		4,969,943
Verizon Master Trust, Ser 2023-4, Cl C
5.650%, 06/20/29		9,700,000		9,789,683

16

FROST LOW DURATION BOND FUND October 31, 2024 (Unaudited)

Description	Face Amount		Value
VFI ABS, Ser 2023-1A, Cl A
7.270%, 03/26/29 (A)	$	1,806,476	$	1,827,072
Westgate Resorts, Ser 2022-1A, Cl C
2.488%, 08/20/36 (A)		1,252,687		1,217,267
				37,576,685
Student Loan — 0.1%
Commonbond Student Loan Trust, Ser 2017-AGS, Cl A1
2.550%, 05/25/41 (A)		339,222		316,851
Total Asset-Backed Securities
(Cost $84,187,672)				83,716,753
CORPORATE OBLIGATIONS — 20.6%
Communication Services — 1.0%
News
3.875%, 05/15/29 (A)		3,000,000		2,791,816
Consumer Discretionary — 1.5%
Hyundai Capital America
5.300%, 01/08/29 (A)		4,000,000		4,030,540
Financials — 4.5%
Capital One Financial
5.463%, SOFRRATE + 1.560%, 07/26/30(B)		4,000,000		4,032,978
4.200%, 10/29/25		5,000,000		4,963,427
Golub Capital BDC
7.050%, 12/05/28		1,200,000		1,247,738
JPMorgan Chase
4.995%, SOFRRATE + 1.125%, 07/22/30(B)		2,000,000		2,006,426
				12,250,569
Industrials — 5.5%
Delta Air Lines
7.000%, 05/01/25(A)		5,000,000		5,040,727
Molex Electronic Technologies
3.900%, 04/15/25(A)		10,030,000		9,956,539
				14,997,266
Information Technology — 7.0%
Crowdstrike Holdings
3.000%, 02/15/29		7,287,000		6,626,326
Gartner
3.625%, 06/15/29(A)		5,000,000		4,666,822
Kyndryl Holdings
2.050%, 10/15/26		8,000,000		7,575,709
				18,868,857
Real Estate — 1.1%
COPT Defense Properties
2.250%, 03/15/26		3,000,000		2,885,431
Total Corporate Obligations
(Cost $56,909,932)				55,824,479
U.S. GOVERNMENT AGENCY OBLIGATION — 3.7%
FHLB
5.050%, 10/24/31		10,000,000		9,949,524
Total U.S. Government Agency Obligation
(Cost $9,974,933)				9,949,524

Description	Face Amount		Value
MORTGAGE-BACKED SECURITIES — 0.8%
Commercial Mortgage-Backed Obligation — 0.5%
Benchmark Mortgage Trust, Ser 2020-B19, Cl A2
1.691%, 09/15/53	$	1,223,487	$	1,186,416
Non-Agency Residential Mortgage-Backed Obligation — 0.3%
Chase Home Lending Mortgage Trust, Ser 2024-2, Cl A6
6.500%, 02/25/55 (A)(B)		815,434		821,419
Total Mortgage-Backed Securities
(Cost $2,071,023)				2,007,835
	Shares
COMMERCIAL PAPER — 1.1%
Brookfield Infrastructure
5.074%, 12/04/24 (C)		1,000,000		995,388
Dentsply Sirona Inc
5.311%, 11/14/24 (C)		1,000,000		997,886
Quanta Service Inc
5.134%, 11/05/24 (C)		1,000,000		999,276
Total Commercial Paper
(Cost $2,992,887)				2,992,550
REPURCHASE AGREEMENT(D) — 6.6%
Tri Party Overnight
4.800%, dated 10/31/2024, to be repurchased on 11/01/2024, repurchase price $18,002,400 (collateralized by various Government Obligations, ranging in par value $765,000 - $9,000,000, 3.000% - 8.750%, 01/30/2030 - 05/25/2054, with a total market value of $18,381,536)		18,000,000		18,000,000
Total Repurchase Agreement
(Cost $18,000,000)				18,000,000
Total Investments — 102.3%
(Cost $278,315,389)			$	277,208,719
Percentages are based on Net Assets of $271,078,966.

(A)	Securities sold within terms of a private placement memorandum, exempt from registration under Section 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other "accredited investors." The total value of such securities at October 31, 2024 was $97,636,873 and represents 36.0% of Net Assets.
(B)	Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates.
(C)	Interest rate represents the security’s effective yield at the time of purchase.
(D)	Tri-Party Repurchase Agreement.

See “Glossary” for abbreviations.

FIA-QH-001-3400

17

Glossary October 31, 2024 (Unaudited)

Fund Abbreviations

ABS — Asset-Backed Security

Cl — Class

CLO — Collateralized Loan Obligation

FHLB — Federal Home Loan Bank

FHLMC — Federal Home Loan Mortgage Corporation

FNMA — Federal National Mortgage Association

GNMA — Government National Mortgage Association

GO — General Obligation

H15T1Y — 1 Year US Treasury Yield Curve Constant Maturity Rate

H15T5Y — 5 Year US Treasury Yield Curve Constant Maturity Rate

H15T10Y — 10 Year US Treasury Yield Curve Constant Maturity Rate

IO — Interest Only - face amount represents notional amount

LLC — Limited Liability Company

MTN — Medium Term Note

PSF-GTD — Texas Public School Fund Guarantee

RB — Revenue Bond

Ser — Series

SOFRINDX — Secured Overnight Financing Rate Index

SOFR30A — Secured Overnight Financing Rate 30 Day Average

SOFRRATE — Secured Overnight Financing Rate

STRIPS — Separately Traded Registered Interest and Principal Securities

TA — Tax Allocation

TSFR1M — 1 Month CME Term Secured

TSFR3M — 3 Month CME Term Secured

US0001M — ICE LIBOR USD 1 Month

USISDA05 — USD ICE Swap 11:00 NY 5 Yr

Currency Abbreviations

USD — U.S. Dollar

18