First Foundation Total Return Fund

Fund Profile

Fund profile

Tickers

FBBAX, FBBYX

Fund manager

Advisors' Inner Circle Fund III

Total assets

$93.96 mm

Liabilities

$188.50 k

Net assets

$93.77 mm

Number of holdings

71.00

71 Holdings

As of Dec 2024

Security	$Holding	Balance	% of Fund	Category	Position	Country
BOLLORE SE COMMON STOCK	7.62 mm	1.24 mm shares	8.13	Common equity	Long	France
COMPAGNIE DE L'ODET SA COMMON STOCK	7.20 mm	4.40 k shares	7.67	Common equity	Long	France
BUR Burford Capital Limited	5.88 mm	461.07 k shares	6.27	Common equity	Long	USA
US TREASURY N/B 0.875000% 11/15/2030	4.76 mm	5.82 mm principal	5.07	Structured note	Long	USA
BROWN BROTHERS HARRIMAN SWEEP INTEREST	4.68 mm	4.68 mm principal	4.99	Short-term investment vehicle	Long	USA
PRAIRIESKY ROYALTY LTD COMMON STOCK	4.37 mm	224.38 k shares	4.66	Common equity	Long	Canada
INTERNATIONAL WORKPLACE GROU COMMON STOCK	4.33 mm	2.17 mm shares	4.61	Common equity	Long	UK
LAGARDERE SA COMMON STOCK	4.28 mm	203.75 k shares	4.57	Common equity	Long	France
SU Suncor Energy Inc.	4.17 mm	116.98 k shares	4.45	Common equity	Long	USA
NINTENDO CO LTD-UNSPONS ADR DEPOSITARY RECEIPT	4.03 mm	275.50 k shares	4.30	Common equity	Long	USA
ENTAIN PLC COMMON STOCK	2.94 mm	341.94 k shares	3.14	Common equity	Long	UK
DSV A/S COMMON STOCK	2.78 mm	13.07 k shares	2.96	Common equity	Long	Denmark
TLF Tandy Leather Factory, Inc.	2.66 mm	560.24 k shares	2.84	Common equity	Long	USA
US TREASURY N/B 3.875000% 08/15/2033	2.62 mm	2.75 mm principal	2.79	Structured note	Long	USA
EXOR NV COMMON STOCK	2.30 mm	25.10 k shares	2.45	Common equity	Long	Netherlands
BRK-B Berkshire Hathaway Inc.	2.29 mm	5.06 k shares	2.44	Common equity	Long	USA
GOOG Alphabet Inc.	2.20 mm	11.62 k shares	2.35	Common equity	Long	USA
CANAL+SA COMMON STOCK	2.15 mm	846.17 k shares	2.29	Common equity	Long	UK
KEWEENAW LAND ASSOCIATION LT COMMON STOCK	1.84 mm	52.60 k shares	1.96	Common equity	Long	USA
FWONA Formula One Group	1.82 mm	21.60 k shares	1.94	Common equity	Long	USA
BIIB Biogen Inc.	1.71 mm	11.20 k shares	1.83	Common equity	Long	USA
ASTRAZENECA PLC-SPONS ADR DEPOSITARY RECEIPT	1.22 mm	18.55 k shares	1.30	Common equity	Long	USA
VIVENDI SE COMMON STOCK	1.18 mm	441.67 k shares	1.25	Common equity	Long	France
JYNT The Joint Corp.	1.16 mm	109.32 k shares	1.24	Common equity	Long	USA
FAIRFAX INDIA HO-SUB VTG SHS COMMON STOCK	1.16 mm	72.50 k shares	1.24	Common equity	Long	USA
US TREASURY N/B 3.500000% 09/15/2025	1.02 mm	1.03 mm principal	1.09	Structured note	Long	USA
US TREASURY N/B 2.625000% 04/15/2025	1.02 mm	1.03 mm principal	1.09	Structured note	Long	USA
US TREASURY N/B 1.875000% 02/15/2032	1.01 mm	1.20 mm principal	1.08	Structured note	Long	USA
US TREASURY N/B 3.000000% 02/15/2049	982.18 k	1.35 mm principal	1.05	Debt	Long	USA
DAL Delta Air Lines, Inc.	916.58 k	15.15 k shares	0.98	Common equity	Long	USA
PHG Koninklijke Philips N.V.	862.15 k	34.05 k shares	0.92	Common equity	Long	USA
CME CME Group Inc.	812.81 k	3.50 k shares	0.87	Common equity	Long	USA
NRP Natural Resource Partners L.P.	803.64 k	7.24 k shares	0.86	Common equity	Long	USA
BECLE SAB DE CV COMMON STOCK	694.91 k	613.81 k shares	0.74	Common equity	Long	Mexico
US TREASURY N/B 3.000000% 08/15/2052	556.04 k	775.00 k principal	0.59	Debt	Long	USA
FEDERAL FARM CREDIT BANK 2.870000% 02/25/2030	460.96 k	500.00 k principal	0.49	Debt	Long	USA
LBTYK Liberty Global plc	455.53 k	35.70 k shares	0.49	Common equity	Long	USA
BBN BlackRock Taxable Municipal Bond Trust	418.31 k	25.95 k shares	0.45	Common equity	Long	USA
NINTENDO CO LTD COMMON STOCK	353.68 k	6.00 k shares	0.38	Common equity	Long	Japan
VIVHY Vivendi SE	319.25 k	48.89 k shares	0.34	Common equity	Long	USA
FEDERAL HOME LOAN BANK 2.500000% 03/18/2038	225.90 k	300.00 k principal	0.24	Debt	Long	USA
GOOG Alphabet Inc.	190.44 k	1.00 k shares	0.20	Common equity	Long	USA
BOSWELL (JG) CO COMMON STOCK	82.05 k	150.00 shares	0.09	Common equity	Long	USA
FANNIE MAE POOL FN AB9550	62.51 k	70.86 k principal	0.07	Debt	Long	USA
VOXR Vox Royalty Corp.	55.67 k	23.79 k shares	0.06	Common equity	Long	USA
FANNIE MAE POOL FN AT2721	54.34 k	61.59 k principal	0.06	Debt	Long	USA
FANNIE MAE POOL FN AB6858	35.05 k	38.51 k principal	0.04	Debt	Long	USA
FANNIE MAE POOL FN AB7964	34.62 k	37.85 k principal	0.04	Debt	Long	USA
PARDEE RESOURCES CO INC COMMON STOCK	31.71 k	101.00 shares	0.03	Common equity	Long	USA
FANNIE MAE POOL FN AR6834	30.61 k	34.69 k principal	0.03	Debt	Long	USA
GINNIE MAE II POOL G2 MA1012	30.20 k	33.04 k principal	0.03	Debt	Long	USA
FANNIE MAE POOL FN AI4818	20.56 k	20.64 k principal	0.02	Debt	Long	USA
FRMO CORP COMMON STOCK	19.54 k	2.00 k shares	0.02	Common equity	Long	USA
FANNIE MAE POOL FN AS1770	19.20 k	20.51 k principal	0.02	Debt	Long	USA
GINNIE MAE II POOL G2 MA0935	18.81 k	19.98 k principal	0.02	Debt	Long	USA
FANNIE MAE POOL FN AH3401	18.55 k	19.13 k principal	0.02	Debt	Long	USA
FREDDIE MAC GOLD POOL FG Q01533	18.43 k	18.47 k principal	0.02	Debt	Long	USA
GINNIE MAE II POOL G2 783755	16.28 k	18.35 k principal	0.02	Debt	Long	USA
GINNIE MAE II POOL G2 4922	15.36 k	16.21 k principal	0.02	Debt	Long	USA
FANNIE MAE POOL FN AE7731	13.98 k	14.42 k principal	0.01	Debt	Long	USA
GINNIE MAE II POOL G2 MA1089	12.14 k	13.69 k principal	0.01	Debt	Long	USA
GINNIE MAE II POOL G2 4696	6.77 k	6.97 k principal	0.01	Debt	Long	USA
GINNIE MAE II POOL G2 4978	5.33 k	5.49 k principal	0.01	Debt	Long	USA
FANNIE MAE POOL FN AD1593	3.82 k	3.94 k principal	0.00	Debt	Long	USA
FANNIE MAE REMICS FNR 2012-93 SW	1.17 k	12.32 k principal	0.00	Debt	Long	USA
FANNIE MAE INTEREST STRIP FNS 354 1	1.04 k	1.17 k principal	0.00	Debt	Long	USA
CCMO iHeartCommunications, Inc.	490.50	545.00 principal	0.00	Debt	Long	USA
CCMO iHeartCommunications, Inc.	106.92	132.00 principal	0.00	Debt	Long	USA
BEAR STEARNS ASSET BACKED SECURITIES TRUST 2003-AB BSABS 2003-ABF1 A	0.76	0.78 principal	0.00	ABS-mortgage backed security	Long	USA
PERSHING SQUARE TONTINE - ESCROW SPECIAL PURPOSE ACQUISITION COMPANIES	0	42.44 k shares	0.00	Common equity	Long	USA
PERSHING SQUARE WARRANTS EXPIRE 12/31/2049	0	10.61 k shares	0.00	Common equity	Long	USA