Penn Mutual AM Strategic Income Fund

Fund Profile

Fund profile

Tickers

PMUBX

Fund manager

Advisors' Inner Circle Fund III

Total assets

$164.18 mm

Liabilities

$444.78 k

Net assets

$163.73 mm

Number of holdings

86.00

86 Holdings

As of Sep 2024

Security	$Holding	Balance	% of Fund	Category	Position	Country
US TREASURY N/B 3.375000% 09/15/2027	34.82 mm	35.00 mm principal	21.27	Structured note	Long	USA
BROWN BROTHERS HARRIMAN SWEEP INTEREST	5.87 mm	5.87 mm principal	3.58	Short-term investment vehicle	Long	USA
FREDDIE MAC POOL FR QG2979	4.19 mm	4.67 mm principal	2.56	Debt	Long	USA
FREMF 2017-K69 MORTGAGE TRUST FREMF 2017-K69 B	3.79 mm	3.90 mm principal	2.31	ABS-mortgage backed security	Long	USA
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2013-11 LP	3.65 mm	3.90 mm principal	2.23	Debt	Long	USA
FREDDIE MAC REMICS FHR 4609 QV	3.36 mm	3.44 mm principal	2.05	Debt	Long	USA
FANNIE MAE POOL FN MA5026	3.03 mm	3.25 mm principal	1.85	Debt	Long	USA
FREMF 2015-K47 MORTGAGE TRUST FREMF 2015-K47 C	2.97 mm	3.00 mm principal	1.81	ABS-mortgage backed security	Long	USA
UNIV OF TEXAS TX PERMANENT UNI PERMANENT UNIVERSITY FUND - UNIVERSITY OF TEXAS SY	2.89 mm	2.79 mm principal	1.76	Debt	Long	USA
FREMF 2017-K056 MORTGAGE TRUST FREMF 2017-K65 B	2.61 mm	2.65 mm principal	1.60	ABS-mortgage backed security	Long	USA
STT State Street Corporation	2.60 mm	2.75 mm principal	1.59	Debt	Long	USA
U.S. TREASURY INFLATION-PROTECTED SECURITIES 1.375 07/15/33	2.45 mm	2.40 mm principal	1.50	Debt	Long	USA
CNC Centene Corporation	2.45 mm	2.50 mm principal	1.49	Debt	Long	USA
FREDDIE MAC POOL FR SD8349	2.32 mm	2.29 mm principal	1.42	Debt	Long	USA
FIRST MARYLAND CAPITAL II VARIABLE RATE 02/01/2027	2.30 mm	2.41 mm principal	1.40	Debt	Long	USA
NELNET STUDENT LOAN TRUST 2004-4 NSLT 2004-4 B	2.26 mm	2.28 mm principal	1.38	ABS-mortgage backed security	Long	USA
US TREASURY N/B 4.125000% 01/31/2025	2.25 mm	2.25 mm principal	1.37	Structured note	Long	USA
D Dominion Energy, Inc.	2.12 mm	2.00 mm principal	1.30	Debt	Long	USA
ASHTEAD CAPITAL INC 144A 5.500000% 08/11/2032	2.05 mm	2.00 mm principal	1.25	Debt	Long	UK
US TREASURY N/B 1.750000% 01/31/2029	2.04 mm	2.20 mm principal	1.25	Structured note	Long	USA
AERCAP HOLDINGS NV 5.875000% 10/10/2079	2.00 mm	2.00 mm principal	1.22	Debt	Long	Ireland
ET Energy Transfer LP	2.00 mm	2.00 mm principal	1.22	Debt	Long	USA
SEQUOIA MORTGAGE TRUST 2021-5 SEMT 2021-5 A5	1.81 mm	2.07 mm principal	1.11	ABS-mortgage backed security	Long	USA
HEALTH CARE SERVICE CORP A MUTUAL LEGAL RESERVE CO 2.200000% 06/01/2030	1.78 mm	2.00 mm principal	1.09	Debt	Long	USA
NEW YORK LIFE GLOBAL FUNDING MTN 4.550000% 01/28/2033	1.76 mm	1.75 mm principal	1.07	Debt	Long	USA
MRK Merck & Co., Inc.	1.74 mm	1.90 mm principal	1.06	Debt	Long	USA
FREMF 2014-K41 MORTGAGE TRUST FREMF 2014-K41 B	1.73 mm	1.74 mm principal	1.06	ABS-mortgage backed security	Long	USA
VERUS SECURITIZATION TRUST 2023-8 VERUS 2023-8 A2	1.71 mm	1.68 mm principal	1.04	ABS-mortgage backed security	Long	USA
SMB PRIVATE EDUCATION LOAN TRUST 2015-C SMB 2015-C B	1.70 mm	1.72 mm principal	1.04	ABS-mortgage backed security	Long	USA
NAVIENT PRIVATE EDUCATION LOAN TRUST 2015-B NAVSL 2015-BA A3	1.63 mm	1.63 mm principal	1.00	ABS-mortgage backed security	Long	USA
VERUS SECURITIZATION TRUST 2020-2 VERUS 2020-2 A2	1.62 mm	1.64 mm principal	0.99	ABS-mortgage backed security	Long	USA
VST Vistra Corp.	1.57 mm	1.50 mm principal	0.96	Debt	Long	USA
AMERICAN AIRLINES 2021-1 CLASS B PASS THROUGH TRUS 3.950000% 07/11/2030	1.55 mm	1.64 mm principal	0.94	Debt	Long	USA
SEQUOIA MORTGAGE TRUST 2017-5 SEMT 2017-5 A1	1.54 mm	1.67 mm principal	0.94	ABS-mortgage backed security	Long	USA
BNSF FUNDING TRUST I 6.613000% 12/15/2055	1.51 mm	1.50 mm principal	0.92	Debt	Long	USA
EXE Expand Energy Corporation	1.51 mm	1.50 mm principal	0.92	Debt	Long	USA
NWL Newell Brands Inc.	1.50 mm	1.50 mm principal	0.92	Debt	Long	USA
NORTHWOODS CAPITAL XVII LTD WOODS 2018-17A C	1.50 mm	1.50 mm principal	0.92	ABS-collateralized bond/debt obligation	Long	Cayman Islands
PRAIRIE ACQUIROR LP 8/1/2029	1.49 mm	1.50 mm principal	0.91	Loan	Long	USA
FREMF 2016-K53 MORTGAGE TRUST FREMF 2016-K53 C	1.48 mm	1.50 mm principal	0.90	ABS-mortgage backed security	Long	USA
BSPRT 2021-FL6 ISSUER LTD BSPRT 2021-FL6 B	1.46 mm	1.50 mm principal	0.89	ABS-collateralized bond/debt obligation	Long	Cayman Islands
MAJORDRIVE HOLDINGS IV LLC 144A 6.375000% 06/01/2029	1.46 mm	1.50 mm principal	0.89	Debt	Long	USA
BMO 2024-5C3 MORTGAGE TRUST BMO 2024-5C3 C	1.40 mm	1.35 mm principal	0.86	ABS-mortgage backed security	Long	USA
IONS Ionis Pharmaceuticals, Inc.	1.38 mm	1.40 mm principal	0.84	Debt	Long	USA
GAP The Gap, Inc.	1.31 mm	1.50 mm principal	0.80	Debt	Long	USA
FREMF 2016-K53 MORTGAGE TRUST FREMF 2016-K53 B	1.23 mm	1.25 mm principal	0.75	ABS-mortgage backed security	Long	USA
TRIVIUM PACKAGING FINANCE BV 144A 5.500000% 08/15/2026	1.20 mm	1.20 mm principal	0.73	Debt	Long	Netherlands
FONTAINEBLEAU MIAMI BEACH TRUST 2019-FBLU FMBT 2019-FBLU B	1.19 mm	1.20 mm principal	0.73	ABS-mortgage backed security	Long	USA
DUKE ENERGY CAROLINAS LLC 2.850000% 03/15/2032	1.13 mm	1.25 mm principal	0.69	Debt	Long	USA
BUNKER HILL LOAN DEPOSITARY TRUST 2019-3 BHLD 2019-3 M1	1.10 mm	1.15 mm principal	0.67	ABS-mortgage backed security	Long	USA
ECMC GROUP STUDENT LOAN TRUST ECMC 2019-1A A1A	1.10 mm	1.19 mm principal	0.67	ABS-mortgage backed security	Long	USA
NAVIENT PRIVATE EDUCATION LOAN TRUST 2014-A NAVSL 2014-AA A3	1.06 mm	1.06 mm principal	0.65	ABS-mortgage backed security	Long	USA
BA The Boeing Company	1.06 mm	1.30 mm principal	0.65	Debt	Long	USA
PNC The PNC Financial Services Group, Inc.	1.04 mm	1.00 mm principal	0.64	Debt	Long	USA
BBCMS MORTGAGE TRUST 2024-5C25 BBCMS 2024-5C25 C	1.03 mm	1.00 mm principal	0.63	ABS-mortgage backed security	Long	USA
CNXC Concentrix Corporation	1.03 mm	1.00 mm principal	0.63	Debt	Long	USA
SHW The Sherwin-Williams Company	1.02 mm	1.00 mm principal	0.62	Debt	Long	USA
MAUSER PACKAGING SOLUTIONS HOLDING CO 144A 7.875000% 08/15/2026	1.01 mm	1.00 mm principal	0.62	Debt	Long	USA
CANYON CAPITAL CLO 2016-1 LTD CANYC 2016-1A CR	1.00 mm	1.00 mm principal	0.61	ABS-collateralized bond/debt obligation	Long	Cayman Islands
CARLYLE US CLO 2017-4 LTD CGMS 2017-4A B	998.75 k	1.00 mm principal	0.61	ABS-collateralized bond/debt obligation	Long	Cayman Islands
PARK AVENUE INSTITUTIONAL ADVISERS CLO LTD 2018-1 PAIA 2018-1A BR	998.75 k	1.00 mm principal	0.61	ABS-collateralized bond/debt obligation	Long	Cayman Islands
FORD MOTOR CREDIT CO LLC 4.950000% 05/28/2027	997.55 k	1.00 mm principal	0.61	Debt	Long	USA
FREMF 2017-K729 MORTGAGE TRUST FREMF 2017-K729 B	994.68 k	1.00 mm principal	0.61	ABS-mortgage backed security	Long	USA
GRAHAM PACKAGING CO INC 144A 7.125000% 08/15/2028	990.14 k	1.00 mm principal	0.60	Debt	Long	USA
MORGAN STANLEY CAPITAL I TRUST 2015-MS1 MSC 2015-MS1 A4	988.62 k	1.00 mm principal	0.60	ABS-mortgage backed security	Long	USA
SMB PRIVATE EDUCATION LOAN TRUST 2017-A SMB 2017-A B	975.53 k	1.00 mm principal	0.60	ABS-mortgage backed security	Long	USA
TOWD POINT MORTGAGE TRUST 2018-2 TPMT 2018-2 A1	945.23 k	965.20 k principal	0.58	ABS-mortgage backed security	Long	USA
HOV Hovnanian Enterprises, Inc.	900.00 k	50.00 k shares	0.55	Preferred equity	Long	USA
PRESTIGE AUTO RECEIVABLES TRUST 2021-1 PART 2021-1A C	894.14 k	910.94 k principal	0.55	ABS-mortgage backed security	Long	USA
UNITED AIRLINES 2020-1 CLASS B PASS THROUGH TRUST 4.875000% 01/15/2026	893.58 k	901.74 k principal	0.55	Debt	Long	USA
PARA Paramount Global	886.77 k	1.00 mm principal	0.54	Debt	Long	USA
SLM STUDENT LOAN TRUST 2014-2 SLMA 2014-2 A3	875.82 k	879.64 k principal	0.53	ABS-mortgage backed security	Long	USA
NAVIENT PRIVATE EDUCATION LOAN TRUST 2015-A NAVSL 2015-AA A3	857.78 k	855.46 k principal	0.52	ABS-mortgage backed security	Long	USA
OBX 2019-EXP3 TRUST OBX 2019-EXP3 2A2	764.09 k	759.35 k principal	0.47	ABS-mortgage backed security	Long	USA
EBS Emergent BioSolutions Inc.	762.30 k	1.00 mm principal	0.47	Debt	Long	USA
SNCR Synchronoss Technologies, Inc.	611.75 k	25.00 k shares	0.37	Preferred equity	Long	USA
EXETER AUTOMOBILE RECEIVABLES TRUST 2022-1 EART 2022-1A D	563.27 k	575.00 k principal	0.34	ABS-mortgage backed security	Long	USA
JP MORGAN MORTGAGE TRUST 2017-1 JPMMT 2017-1 A11	518.72 k	569.32 k principal	0.32	ABS-mortgage backed security	Long	USA
BBCMS MORTGAGE TRUST 2024-C24 BBCMS 2024-C24 D	483.90 k	610.00 k principal	0.30	ABS-mortgage backed security	Long	USA
WELLS FARGO FUTURES COLLATERAL	291.90 k	291.90 k principal	0.18	Short-term investment vehicle	Long	USA
SMB PRIVATE EDUCATION LOAN TRUST 2016-B SMB 2016-B A2B	206.25 k	206.01 k principal	0.13	ABS-mortgage backed security	Long	USA
FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K043 X3	57.30 k	20.43 mm principal	0.03	Debt	Long	USA
DELTA AIR LINES INC / SKYMILES IP LTD 144A 4.500000% 10/20/2025	228.60	230.00 principal	0.00	Debt	Long	USA
WELLS FARGO SWAPS COLLATERAL	1.26	1.26 principal	0.00	Short-term investment vehicle	Long	USA
US 5YR NOTE (CBT) DEC24 FINANCIAL COMMODITY FUTURE.	-1.43 mm	-13.00 contracts	-0.87	Interest rate derivative	N/A	USA
US ULTRA BOND CBT DEC24 FINANCIAL COMMODITY FUTURE.	-6.65 mm	-50.00 contracts	-4.06	Interest rate derivative	N/A	USA