FS Multi-Strategy Alternatives Fund

Fund Profile

Fund profile

Tickers

FSMSX, FSMMX

Fund manager

Advisors' Inner Circle Fund III

Total assets

$6.22 bn

Liabilities

$4.26 bn

Net assets

$1.95 bn

Number of holdings

791.00

Top 200 of 791 Holdings

As of Sep 2024

Security	$Holding	Balance	% of Fund	Category	Position	Country
FANNIE MAE OR FREDDIE MAC 30YR TBA (OCTOBER)	959.99 mm	949.00 mm principal	49.19	Debt	Long	USA
FANNIE MAE OR FREDDIE MAC 30YR TBA (OCTOBER)	561.63 mm	562.00 mm principal	28.78	Debt	Long	USA
BLCKRCK CASH-TRSRY-INST MONEY MARKET	429.96 mm	429.96 mm principal	22.03	Short-term investment vehicle	Long	USA
FANNIE MAE OR FREDDIE MAC 30YR TBA (OCTOBER)	240.07 mm	250.00 mm principal	12.30	Debt	Long	USA
FANNIE MAE OR FREDDIE MAC 30YR TBA (OCTOBER)	102.20 mm	100.00 mm principal	5.24	Debt	Long	USA
BARCLAYS BANK PLC MTN ZERO COUPON 12/27/2024	83.05 mm	82.51 mm principal	4.26	Debt	Long	UK
BLCKRCK CASH-TRSRY-INST MONEY MARKET	63.27 mm	63.27 mm principal	3.24	Short-term investment vehicle	Long	USA
GOLDMAN SACHS COLLATERAL BALANCE FS FUNDS	44.23 mm	44.23 mm principal	2.27	Short-term investment vehicle	Long	USA
S&P 500 ANNL DIV DEC24 PHYSICAL INDEX FUTURE.	37.19 mm	1.98 k contracts	1.91	Equity derivative	N/A	USA
MORGAN STANLEY COLLATERAL BALANCE FS FUNDS	34.65 mm	34.65 mm principal	1.78	Short-term investment vehicle	Long	USA
S&P 500 ANNL DIV DEC26 PHYSICAL INDEX FUTURE.	30.11 mm	1.61 k contracts	1.54	Equity derivative	N/A	USA
SOC GEN COLLATERAL BALANCE FS FUNDS	10.23 mm	10.23 mm principal	0.52	Short-term investment vehicle	Long	USA
FIGRE TRUST 2023-HE2 FIGRE 2024-HE4 A	10.04 mm	10.00 mm principal	0.51	ABS-mortgage backed security	Long	USA
NORTHWOODS CAPITAL XII-B LTD WOODS 2018-12BA BR	10.02 mm	10.00 mm principal	0.51	ABS-collateralized bond/debt obligation	Long	Cayman Islands
STAR 2024-SFR4 TRUST STAR 2024-SFR4 A	10.01 mm	10.00 mm principal	0.51	ABS-mortgage backed security	Long	USA
GENERATE CLO 6 LTD GNRT 6A AR2	10.00 mm	10.00 mm principal	0.51	ABS-collateralized bond/debt obligation	Long	Cayman Islands
VERUS SECURITIZATION TRUST 2024-7 VERUS 2024-7 A1	10.00 mm	10.00 mm principal	0.51	ABS-mortgage backed security	Long	USA
BSPRT 2024-FL11 ISSUER LLC BSPRT 2024-FL11 A	9.98 mm	10.00 mm principal	0.51	ABS-collateralized bond/debt obligation	Long	USA
MF1 2022-FL8 LTD MF1 2022-FL8 A	9.62 mm	9.69 mm principal	0.49	ABS-collateralized bond/debt obligation	Long	Cayman Islands
FREDDIE MAC REMICS FHR 5420 SG	9.44 mm	266.99 mm principal	0.48	Debt	Long	USA
CLARIOS GLOBAL LP / CLARIOS US FINANCE CO 144A 8.500000% 05/15/2027	9.11 mm	9.08 mm principal	0.47	Debt	Long	USA
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2020-78 DI	8.95 mm	43.10 mm principal	0.46	Debt	Long	USA
RENEW 2024-2 RENEW 2024-2A A	8.95 mm	9.00 mm principal	0.46	ABS-mortgage backed security	Long	USA
VGR Vector Group Ltd.	8.69 mm	8.59 mm principal	0.45	Debt	Long	USA
Select Medical Corp	8.56 mm	8.50 mm principal	0.44	Debt	Long	USA
FOUNDATION FINANCE TRUST 2024-2 FFIN 2024-2A A	8.52 mm	8.50 mm principal	0.44	ABS-mortgage backed security	Long	USA
CCL Carnival Corporation & plc	8.02 mm	4.99 mm principal	0.41	Debt	Long	USA
VISTA POINT SECURITIZATION TRUST SERIES 2024-CES2 VSTA 2024-CES2 A1	8.01 mm	8.00 mm principal	0.41	ABS-mortgage backed security	Long	USA
BDS 2024-FL13 LLC BDS 2024-FL13 A	8.00 mm	8.00 mm principal	0.41	ABS-collateralized bond/debt obligation	Long	USA
MOHEGAN TRIBAL GAMING AUTHORITY 144A 8.000000% 02/01/2026	7.96 mm	8.05 mm principal	0.41	Debt	Long	USA
CSMC 2021-BHAR CSMC 2021-BHAR A	7.88 mm	7.95 mm principal	0.40	ABS-mortgage backed security	Long	USA
SERVICE PROPERTIES TRUST 5.250000% 02/15/2026	7.84 mm	7.98 mm principal	0.40	Debt	Long	USA
BOMBARDIER INC 144A 7.875000% 04/15/2027	7.65 mm	7.63 mm principal	0.39	Debt	Long	Canada
AFFIRM ASSET SECURITIZATION TRUST 2024-B AFFRM 2024-B A	7.50 mm	7.50 mm principal	0.38	ABS-mortgage backed security	Long	USA
GT The Goodyear Tire & Rubber Company	7.29 mm	7.27 mm principal	0.37	Debt	Long	USA
W Wayfair Inc.	7.22 mm	4.90 mm principal	0.37	Debt	Long	USA
HERA FINANCING 2024-1 DAC HRFIN 2024-1A A	6.68 mm	5.00 mm principal	0.34	ABS-mortgage backed security	Long	UK
CITGO PETROLEUM CORP 144A 7.000000% 06/15/2025	6.57 mm	6.57 mm principal	0.34	Debt	Long	USA
FANNIE MAE REMICS FNR 2020-57 IB	6.45 mm	30.38 mm principal	0.33	Debt	Long	USA
FREDDIE MAC STRIPS FHS 406 S44	6.44 mm	85.52 mm principal	0.33	Debt	Long	USA
GETTY IMAGES INC 144A 9.750000% 03/01/2027	6.40 mm	6.40 mm principal	0.33	Debt	Long	USA
ACCELERATED 2024-1 LLC AALLC 2024-1A A	6.30 mm	6.32 mm principal	0.32	ABS-mortgage backed security	Long	USA
SE Sea Limited	6.06 mm	5.06 mm principal	0.31	Debt	Long	Singapore
FWONA Formula One Group	5.96 mm	4.99 mm principal	0.31	Debt	Long	USA
T-MOBILE USA INC 4.950000% 03/15/2028	5.86 mm	5.72 mm principal	0.30	Debt	Long	USA
Wilshire Equity Multi-Factor (Long) TRS BNP Paribas	5.76 mm	819.15 k contracts	0.30	Equity derivative	N/A	USA
LENDBUZZ SECURITIZATION TRUST 2024-3 LBZZ 2024-3A A2	5.76 mm	5.75 mm principal	0.30	ABS-mortgage backed security	Long	USA
SRPT Sarepta Therapeutics, Inc.	5.67 mm	5.00 mm principal	0.29	Debt	Long	USA
ARBOR REALTY COMMERCIAL REAL ESTATE NOTES 2022-FL2 ARCLO 2022-FL2 A	5.66 mm	5.66 mm principal	0.29	ABS-collateralized bond/debt obligation	Long	USA
ZTO ZTO Express (Cayman) Inc.	5.54 mm	5.21 mm principal	0.28	Debt	Long	China
MAXIM CRANE WORKS HOLDINGS CAPITAL LLC 144A 11.500000% 09/01/2028	5.51 mm	5.20 mm principal	0.28	Debt	Long	USA
FANNIE MAE REMICS FNR 2023-11 HS	5.51 mm	122.41 mm principal	0.28	Debt	Long	USA
WEC WEC Energy Group, Inc.	5.47 mm	4.94 mm principal	0.28	Debt	Long	USA
PCG PG&E Corporation	5.46 mm	5.04 mm principal	0.28	Debt	Long	USA
TXNM TXNM Energy, Inc.	5.42 mm	5.00 mm principal	0.28	Debt	Long	USA
RRX Regal Rexnord Corporation	5.40 mm	5.20 mm principal	0.28	Debt	Long	USA
CMS-PB Consumers Energy Company	5.36 mm	5.00 mm principal	0.27	Debt	Long	USA
DUK Duke Energy Corporation	5.29 mm	5.00 mm principal	0.27	Debt	Long	USA
FANNIE MAE REMICS FNR 2021-27 EI	5.29 mm	23.38 mm principal	0.27	Debt	Long	USA
TRIP.COM GROUP LTD 144A 0.750000% 06/15/2029	5.25 mm	4.59 mm principal	0.27	Debt	Long	China
Cleveland Electric Illuminating Co	5.22 mm	4.99 mm principal	0.27	Debt	Long	USA
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2018-21 PI	5.21 mm	24.29 mm principal	0.27	Debt	Long	USA
MSTR MicroStrategy Incorporated	5.18 mm	5.00 mm principal	0.27	Debt	Long	USA
FREDDIE MAC REMICS FHR 5038 HI	5.09 mm	23.79 mm principal	0.26	Debt	Long	USA
FANNIE MAE REMICS FNR 2021-87 GI	5.05 mm	26.74 mm principal	0.26	Debt	Long	USA
HOMES 2024-AFC1 TRUST HOMES 2024-AFC1 A1	5.01 mm	5.00 mm principal	0.26	ABS-mortgage backed security	Long	USA
WELLS FARGO COMMERCIAL MORTGAGE TRUST 2024-MGP WFCM 2024-MGP A11	5.00 mm	5.00 mm principal	0.26	ABS-mortgage backed security	Long	USA
RCKT MORTGAGE TRUST 2024-CES7 RCKT 2024-CES7 A1A	4.99 mm	5.00 mm principal	0.26	ABS-mortgage backed security	Long	USA
PEAC SOLUTIONS RECEIVABLES 2024-2 LLC PEAC 2024-2A A3	4.99 mm	5.00 mm principal	0.26	ABS-mortgage backed security	Long	USA
MFA 2024-NQM2 TRUST MFRA 2024-NQM2 A1	4.97 mm	4.96 mm principal	0.25	ABS-mortgage backed security	Long	USA
F Ford Motor Company 6.500% Notes	4.89 mm	5.00 mm principal	0.25	Debt	Long	USA
BFH Bread Financial Holdings, Inc.	4.85 mm	4.59 mm principal	0.25	Debt	Long	USA
GTLS Chart Industries, Inc.	4.81 mm	95.72 k shares	0.25	Preferred equity	Long	USA
NCL CORP LTD 1.125000% 02/15/2027	4.81 mm	4.97 mm principal	0.25	Debt	Long	USA
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2023-4 SG	4.79 mm	81.56 mm principal	0.25	Debt	Long	USA
UGI UGI Corporation	4.77 mm	4.49 mm principal	0.24	Debt	Long	USA
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2021-78 IC	4.77 mm	27.95 mm principal	0.24	Debt	Long	USA
FORD MOTOR CREDIT CO LLC 5.125000% 06/16/2025	4.72 mm	4.72 mm principal	0.24	Debt	Long	USA
BANK OF AMERICA COLLATERAL BALANCE FS FUNDS	4.70 mm	4.70 mm principal	0.24	Short-term investment vehicle	Long	USA
DEUTSCHE BANK COLLATERAL BALANCE FS FUNDS	4.70 mm	4.70 mm principal	0.24	Short-term investment vehicle	Long	USA
FANNIE MAE REMICS FNR 2024-22 SA	4.68 mm	76.85 mm principal	0.24	Debt	Long	USA
FREDDIE MAC REMICS FHR 4973 BI	4.65 mm	20.43 mm principal	0.24	Debt	Long	USA
FREDDIE MAC REMICS FHR 5134 BI	4.64 mm	20.47 mm principal	0.24	Debt	Long	USA
VSH Vishay Intertechnology, Inc.	4.58 mm	5.00 mm principal	0.23	Debt	Long	USA
ORCL Oracle Corporation	4.57 mm	4.52 mm principal	0.23	Debt	Long	USA
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2020-148 IP	4.53 mm	21.07 mm principal	0.23	Debt	Long	USA
FANNIE MAE REMICS FNR 2023-11 SA	4.50 mm	59.04 mm principal	0.23	Debt	Long	USA
FANNIE MAE REMICS FNR 2022-90 CI	4.47 mm	21.87 mm principal	0.23	Debt	Long	USA
FREDDIE MAC REMICS FHR 5019 MI	4.44 mm	21.20 mm principal	0.23	Debt	Long	USA
FANNIE MAE REMICS FNR 2020-89 KI	4.39 mm	22.82 mm principal	0.23	Debt	Long	USA
FANNIE MAE INTEREST STRIP FNS 431 C35	4.35 mm	62.34 mm principal	0.22	Debt	Long	USA
HPQ HP Inc.	4.31 mm	4.23 mm principal	0.22	Debt	Long	USA
DraftKings, Inc.	4.31 mm	4.97 mm principal	0.22	Debt	Long	USA
DELL INTERNATIONAL LLC / EMC CORP 5.300000% 10/01/2029	4.29 mm	4.12 mm principal	0.22	Debt	Long	USA
BANK OF AMERICA COLLATERAL BALANCE FS FUNDS	4.21 mm	4.21 mm principal	0.22	Short-term investment vehicle	Long	USA
FANNIE MAE REMICS FNR 2021-25 IT	4.21 mm	19.98 mm principal	0.22	Debt	Long	USA
GE HEALTHCARE TECHNOLOGIES INC 5.650000% 11/15/2027	4.13 mm	3.97 mm principal	0.21	Debt	Long	USA
FI Fiserv, Inc.	4.11 mm	3.95 mm principal	0.21	Debt	Long	USA
FREDDIE MAC REMICS FHR 5296 ST	4.08 mm	46.99 mm principal	0.21	Debt	Long	USA
FREDDIE MAC REMICS FHR 5290 TS	4.05 mm	47.65 mm principal	0.21	Debt	Long	USA
HCA INC 5.375000% 09/01/2026	4.05 mm	4.01 mm principal	0.21	Debt	Long	USA
SOFI SoFi Technologies, Inc.	3.97 mm	3.73 mm principal	0.20	Debt	Long	USA
BE Bloom Energy Corporation	3.94 mm	4.29 mm principal	0.20	Debt	Long	USA
FREDDIE MAC REMICS FHR 5163 JI	3.94 mm	19.20 mm principal	0.20	Debt	Long	USA
FANNIE MAE REMICS FNR 2021-91 NI	3.88 mm	20.41 mm principal	0.20	Debt	Long	USA
ILLUMINATE BUYER LLC / ILLUMINATE HOLDINGS IV INC 9.000000% 07/01/2028	3.74 mm	3.70 mm principal	0.19	Debt	Long	USA
FREDDIE MAC REMICS FHR 5112 KI	3.73 mm	19.84 mm principal	0.19	Debt	Long	USA
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2021-216 IC	3.71 mm	29.19 mm principal	0.19	Debt	Long	USA
BABA Alibaba Group Holding Limited	3.70 mm	3.01 mm principal	0.19	Debt	Long	China
EXAS Exact Sciences Corporation	3.70 mm	3.96 mm principal	0.19	Debt	Long	USA
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2022-30 IG	3.69 mm	25.04 mm principal	0.19	Debt	Long	USA
FREDDIE MAC REMICS FHR 5184 IO	3.67 mm	17.92 mm principal	0.19	Debt	Long	USA
FANNIE MAE REMICS FNR 2020-77 HI	3.61 mm	17.43 mm principal	0.19	Debt	Long	USA
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2024-65 SU	3.61 mm	67.79 mm principal	0.18	Debt	Long	USA
FREDDIE MAC STRIPS FHS 406 S5	3.60 mm	65.61 mm principal	0.18	Debt	Long	USA
FREDDIE MAC REMICS FHR 5251 MS	3.54 mm	59.65 mm principal	0.18	Debt	Long	USA
FREDDIE MAC REMICS FHR 4998 KI	3.54 mm	16.97 mm principal	0.18	Debt	Long	USA
FREDDIE MAC REMICS FHR 5104 GI	3.50 mm	17.32 mm principal	0.18	Debt	Long	USA
FREDDIE MAC STRIPS FHS 406 S43	3.47 mm	43.74 mm principal	0.18	Debt	Long	USA
LANTHEUS HOLDINGS INC COMMON STOCK	3.46 mm	31.56 k shares	0.18	Common equity	Long	USA
FREDDIE MAC REMICS FHR 4986 IO	3.46 mm	15.66 mm principal	0.18	Debt	Long	USA
FANNIE MAE REMICS FNR 2024-24 SB	3.43 mm	46.86 mm principal	0.18	Debt	Long	USA
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2022-5 NI	3.38 mm	24.93 mm principal	0.17	Debt	Long	USA
CVS CVS Health Corporation	3.34 mm	3.35 mm principal	0.17	Debt	Long	USA
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2020-61 IO	3.34 mm	16.85 mm principal	0.17	Debt	Long	USA
FREDDIE MAC REMICS FHR 5077 LI	3.26 mm	25.63 mm principal	0.17	Debt	Long	USA
FREDDIE MAC REMICS FHR 5336 SA	3.22 mm	65.09 mm principal	0.17	Debt	Long	USA
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2022-34 IT	3.20 mm	15.66 mm principal	0.16	Debt	Long	USA
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2020-4 IO	3.14 mm	16.62 mm principal	0.16	Debt	Long	USA
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2019-143 SC	3.14 mm	23.04 mm principal	0.16	Debt	Long	USA
FREDDIE MAC REMICS FHR 5416 SC	3.13 mm	42.86 mm principal	0.16	Debt	Long	USA
FREDDIE MAC REMICS FHR 5344 SA	3.12 mm	65.54 mm principal	0.16	Debt	Long	USA
TRIVIUM PACKAGING FINANCE BV 144A 5.500000% 08/15/2026	3.09 mm	3.11 mm principal	0.16	Debt	Long	Netherlands
FREDDIE MAC REMICS FHR 5015 BI	3.09 mm	15.43 mm principal	0.16	Debt	Long	USA
JP MORGAN COLLATERAL BALANCE FS FUNDS	3.01 mm	3.01 mm principal	0.15	Short-term investment vehicle	Long	USA
GFL GFL Environmental Inc.	2.99 mm	3.00 mm principal	0.15	Debt	Long	USA
FANNIE MAE REMICS FNR 2020-76 MI	2.99 mm	11.79 mm principal	0.15	Debt	Long	USA
FREDDIE MAC STRIPS FHS 356 S5	2.98 mm	20.48 mm principal	0.15	Debt	Long	USA
SCULPTOR CLO XXVII LTD SCUL 27A E	2.97 mm	3.00 mm principal	0.15	ABS-collateralized bond/debt obligation	Long	Cayman Islands
ETSY Etsy, Inc.	2.96 mm	3.00 mm principal	0.15	Debt	Long	USA
TKC HOLDINGS INC 144A 6.875000% 05/15/2028	2.95 mm	2.99 mm principal	0.15	Debt	Long	USA
FREDDIE MAC REMICS FHR 5250 SA	2.95 mm	43.08 mm principal	0.15	Debt	Long	USA
FREDDIE MAC REMICS FHR 5339 AS	2.95 mm	45.42 mm principal	0.15	Debt	Long	USA
LEVEL 3 FINANCING INC 144A 10.750000% 12/15/2030	2.91 mm	2.65 mm principal	0.15	Debt	Long	USA
FREDDIE MAC REMICS FHR 5354 SL	2.88 mm	43.47 mm principal	0.15	Debt	Long	USA
UBS COLLATERAL BALANCE FS FUNDS	2.87 mm	2.87 mm principal	0.15	Short-term investment vehicle	Long	USA
AFFIRM ASSET SECURITIZATION TRUST 2024-B AFFRM 2024-B E	2.86 mm	2.85 mm principal	0.15	ABS-mortgage backed security	Long	USA
FANNIE MAE REMICS FNR 2022-16 QI	2.84 mm	26.31 mm principal	0.15	Debt	Long	USA
GSMS TRUST 2024-FAIR GSMS 2024-FAIR D	2.82 mm	2.75 mm principal	0.14	ABS-mortgage backed security	Long	USA
FREDDIE MAC REMICS FHR 4989 EI	2.79 mm	13.96 mm principal	0.14	Debt	Long	USA
CNMD CONMED Corporation	2.78 mm	3.00 mm principal	0.14	Debt	Long	USA
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2020-127 IY	2.77 mm	14.06 mm principal	0.14	Debt	Long	USA
BRUNDAGE-BONE CONCRETE PUMPING HOLDINGS INC 144A 6.000000% 02/01/2026	2.76 mm	2.77 mm principal	0.14	Debt	Long	USA
FANNIE MAE REMICS FNR 2021-4 IV	2.76 mm	12.49 mm principal	0.14	Debt	Long	USA
CITIGROUP COMMERCIAL MORTGAGE TRUST 2014-GC23 CGCMT 2014-GC23 C	2.75 mm	2.92 mm principal	0.14	ABS-mortgage backed security	Long	USA
PRIME SECURITY SERVICES BORROWER LLC / PRIME FINAN 5.750000% 04/15/2026	2.73 mm	2.72 mm principal	0.14	Debt	Long	USA
FREDDIE MAC REMICS FHR 5182 IO	2.73 mm	12.83 mm principal	0.14	Debt	Long	USA
FANNIE MAE REMICS FNR 2024-12 DS	2.73 mm	45.65 mm principal	0.14	Debt	Long	USA
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2022-148 SJ	2.72 mm	38.43 mm principal	0.14	Debt	Long	USA
FANNIE MAE REMICS FNR 2022-74 US	2.70 mm	65.31 mm principal	0.14	Debt	Long	USA
FREDDIE MAC REMICS FHR 5152 YI	2.69 mm	12.97 mm principal	0.14	Debt	Long	USA
LADDER CAPITAL FINANCE HOLDINGS LLLP / LADDER CAPI 4.250000% 02/01/2027	2.69 mm	2.76 mm principal	0.14	Debt	Long	USA
LITE Lumentum Holdings Inc.	2.69 mm	3.11 mm principal	0.14	Debt	Long	USA
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2023-5 SC	2.67 mm	63.11 mm principal	0.14	Debt	Long	USA
FREDDIE MAC STRIPS FHS 357 IO	2.66 mm	13.14 mm principal	0.14	Debt	Long	USA
FANNIE MAE REMICS FNR 2018-73 SC	2.60 mm	19.69 mm principal	0.13	Debt	Long	USA
REGIONAL MANAGEMENT ISSUANCE TRUST 2024-1 RMIT 2024-1 D	2.60 mm	2.50 mm principal	0.13	ABS-mortgage backed security	Long	USA
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2017-179 TI	2.59 mm	11.89 mm principal	0.13	Debt	Long	USA
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2022-188 IE	2.58 mm	13.72 mm principal	0.13	Debt	Long	USA
ACHV ABS TRUST 2024-2PL ACHV 2024-2PL D	2.57 mm	2.55 mm principal	0.13	ABS-mortgage backed security	Long	USA
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2022-193 SA	2.57 mm	76.36 mm principal	0.13	Debt	Long	USA
FREDDIE MAC REMICS FHR 5255 SA	2.57 mm	43.20 mm principal	0.13	Debt	Long	USA
FREDDIE MAC REMICS FHR 5093 GI	2.52 mm	14.74 mm principal	0.13	Debt	Long	USA
FREDDIE MAC REMICS FHR 5412 MI	2.46 mm	15.87 mm principal	0.13	Debt	Long	USA
NEWDAY FUNDING MASTER ISSUER PLC - SERIES 2024-2 NDFT 2024-2A E	2.41 mm	1.80 mm principal	0.12	ABS-mortgage backed security	Long	UK
J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES T JPMCC 2022-NLP B	2.38 mm	2.47 mm principal	0.12	ABS-mortgage backed security	Long	USA
FREDDIE MAC REMICS FHR 5191 NI	2.37 mm	13.03 mm principal	0.12	Debt	Long	USA
SIX FLAGS THEME PARKS INC 144A 7.000000% 07/01/2025	2.37 mm	2.36 mm principal	0.12	Debt	Long	USA
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2018-89 LS	2.34 mm	16.75 mm principal	0.12	Debt	Long	USA
ONEMAIN FINANCE CORP 7.125000% 03/15/2026	2.33 mm	2.28 mm principal	0.12	Debt	Long	USA
FANNIE MAE REMICS FNR 2024-11 IK	2.33 mm	11.85 mm principal	0.12	Debt	Long	USA
STWD Starwood Property Trust, Inc.	2.32 mm	2.34 mm principal	0.12	Debt	Long	USA
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2021-158 JI	2.32 mm	10.14 mm principal	0.12	Debt	Long	USA
ADAPTHEALTH LLC 144A 6.125000% 08/01/2028	2.31 mm	2.31 mm principal	0.12	Debt	Long	USA
UBS Bespoke Steepener Basket 2 Strategy TRS UBS Group AG	2.25 mm	2.29 mm contracts	0.12	Equity derivative	N/A	USA
FANNIE MAE REMICS FNR 2020-41 IP	2.25 mm	11.82 mm principal	0.12	Debt	Long	USA
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2020-53 QI	2.24 mm	10.98 mm principal	0.11	Debt	Long	USA
FANNIE MAE REMICS FNR 2022-74 SA	2.24 mm	54.53 mm principal	0.11	Debt	Long	USA
SHOP Shopify Inc.	2.23 mm	2.31 mm principal	0.11	Debt	Long	Canada
BX TRUST 2018-GW BX 2018-GW G	2.22 mm	2.23 mm principal	0.11	ABS-mortgage backed security	Long	USA
JP MORGAN COLLATERAL BALANCE FS FUNDS	2.20 mm	2.20 mm principal	0.11	Short-term investment vehicle	Long	USA
FREDDIE MAC REMICS FHR 5252 SP	2.19 mm	30.66 mm principal	0.11	Debt	Long	USA
AKAM Akamai Technologies, Inc.	2.17 mm	2.14 mm principal	0.11	Debt	Long	USA
CXW CoreCivic, Inc.	2.16 mm	2.27 mm principal	0.11	Debt	Long	USA
FREDDIE MAC REMICS FHR 5270 IB	2.16 mm	10.64 mm principal	0.11	Debt	Long	USA
MERCURY FINANCIAL CREDIT CARD MASTER TRUST MFCC 2024-2A B	2.14 mm	2.10 mm principal	0.11	ABS-mortgage backed security	Long	USA
TSQ Townsquare Media, Inc.	2.13 mm	2.14 mm principal	0.11	Debt	Long	USA
FANNIE MAE REMICS FNR 2021-62 DI	2.13 mm	9.47 mm principal	0.11	Debt	Long	USA
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2023-4 SA	2.12 mm	61.56 mm principal	0.11	Debt	Long	USA
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2021-139 WI	2.12 mm	12.97 mm principal	0.11	Debt	Long	USA