PMUBX
Penn Mutual AM Strategic Income Fund
ADVISORS' INNER CIRCLE III

Portfolio moves

Net position changes between two of this fund's N-PORT snapshots. These are differences between point-in-time reports — not a trade log — and share counts can be affected by splits and other corporate actions.

Jun 30, 2025 → Sep 30, 2025

Expand a category to see the positions behind it, ranked by weight.

Security Shares Jun 2025 Shares Sep 2025 Δ shares End % Δ value
US TREASURY N/B 0 9,000,000 9,000,000 5.64% $9.00M
US TREASURY N/B 0 5,500,000 5,500,000 3.44% $5.49M
US TREASURY N/B 0 5,000,000 5,000,000 3.13% $5.00M
US TREASURY N/B 0 3,500,000 3,500,000 2.21% $3.52M
US TREASURY N/B 0 2,750,000 2,750,000 1.72% $2.74M
US TREASURY N/B 0 2,000,000 2,000,000 1.24% $1.98M
WarnerMedia Holdings, Inc. 0 280,000 280,000 0.13% $208.60K
Security Shares Jun 2025 Shares Sep 2025 Δ shares End % Δ value
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2013-11 LP 3,571,197 0 -3,571,197 0.00% -$3.34M
U.S. Treasury Bills 3,000,000 0 -3,000,000 0.00% -$2.98M
FREMF 2015-K47 MORTGAGE TRUST FREMF 2015-K47 C 2,271,086 0 -2,271,086 0.00% -$2.26M
LEVEL 3 TERM B 1LN 1,500,000 0 -1,500,000 0.00% -$1.52M
CVS HEALTH CORP 1,750,000 0 -1,750,000 0.00% -$1.51M
BNSF FUNDING 1,500,000 0 -1,500,000 0.00% -$1.50M
Neuberger Berman CLO XV, Series 2013-15A, Class BR2 1,500,000 0 -1,500,000 0.00% -$1.50M
MAJORDRIVE TL 6/1/2029 1,492,308 0 -1,492,308 0.00% -$1.47M
WARNERMEDIA HLDG 2,000,000 0 -2,000,000 0.00% -$1.40M
MAUSER PACKAGING SOLUT REGD 144A P/P 7.87500000 1,000,000 0 -1,000,000 0.00% -$998.56K
NAVIENT STUDENT LOAN TRUST NAVSL 2014 AA A3 144A 66,591 0 -66,591 0.00% -$66.61K
Security Shares Jun 2025 Shares Sep 2025 Δ shares End % Δ value
US ULTRA BOND CBT MAR26 FINANCIAL COMMODITY FUTURE. -150 -90 60 -6.16% $6.52M
Security Shares Jun 2025 Shares Sep 2025 Δ shares End % Δ value
FREDDIE MAC POOL FR QG2979 4,433,603 4,361,553 -72,050 2.40% -$5.56K
FR RB5324 3,779,536 3,668,186 -111,350 2.31% -$87.13K
PRKCM Trust, Series 2023-AFC3, Class A2 3,618,958 3,373,657 -245,300 2.14% -$244.11K
FN MA5553 2,858,649 2,786,689 -71,961 1.76% -$48.34K
FNMA, 30 Year 3,118,054 3,017,814 -100,240 1.73% -$51.45K
US ULTRA BOND CBT Sep25 7,523,158 2,755,223 -4,767,935 1.73% -$4.77M
NAVSL 2019-GA A 3,014,283 2,745,677 -268,606 1.67% -$236.72K
FREDDIE MAC REMICS FHR 4609 QV 3,076,069 2,634,912 -441,157 1.62% -$419.26K
NAVSL 2021-EA A 144A 0.97% 12-16-69 2,862,840 2,713,111 -149,730 1.53% -$115.91K
FR SD8349 2,119,705 2,055,687 -64,018 1.30% -$46.35K
Freddie Mac REMICS 2,131,470 2,014,405 -117,065 1.27% -$118.19K
Residential Mortgage Loan Trust, Series 2020-2, Class A2 2,636,724 1,999,406 -637,318 1.24% -$624.54K
NAVSL 2021-CA A 144A 1.06% 10-15-69 1,979,691 1,872,114 -107,577 1.07% -$74.45K
Sequoia Mortgage Trust 2021-5 1,943,493 1,904,072 -39,421 1.05% -$24.20K
Sequoia Mortgage Trust 2017-5 1,619,305 1,563,428 -55,876 0.89% -$46.63K
EART 2021-3A D 1,836,515 1,414,790 -421,725 0.88% -$407.12K
American Airlines Pass-Through Trust, Series B 1,550,000 1,460,000 -90,000 0.87% -$66.79K
VERUS SECURITIZATION TRUST VERUS 2023 8 A2 144A 1,228,776 1,126,328 -102,447 0.71% -$101.59K
NAVSL 2015-BA A3 1,180,497 1,027,012 -153,485 0.65% -$154.72K
ECMC Group Student Loan Trust 2019-1 1,147,977 1,127,674 -20,302 0.63% -$37.02K
SMB Private Education Loan Trust 2017-A 1,000,000 963,266 -36,734 0.60% -$30.81K
SLM Student Loan Trust 2014-2 830,758 813,230 -17,528 0.51% -$17.33K
TPMT 2018-2 A1 144A FRN 03-25-58 933,721 780,082 -153,639 0.48% -$149.09K
UNTD AIR 20-1 B 663,088 560,096 -102,992 0.35% -$102.05K
SMB Private Education Loan Trust, Series 2015-C, Class B 761,760 475,060 -286,700 0.30% -$283.53K
JP MORGAN MORTGAGE TRUST 2017-1 JPMMT 2017-1 A11 543,089 525,050 -18,039 0.30% -$14.96K
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2012-148 PA 799,705 416,891 -382,814 0.26% -$376.12K
ONSLOW BAY FINANCIAL LLC OBX 2019 EXP3 2A2 144A 411,084 357,703 -53,381 0.23% -$53.83K
EART 2022-1A D 452,806 346,565 -106,241 0.22% -$104.08K
NAVIENT STUDENT LOAN TRUST NAVSL 2015 AA A3 144A 351,841 194,421 -157,420 0.12% -$157.88K
Prestige Auto Receivables Trust, Series 2021-1A, Class C 267,935 87,246 -180,689 0.05% -$179.20K
Delta Air Lines Inc / SkyMiles IP Ltd. 92 46 -46 0.00% -$46
Security Shares Jun 2025 Shares Sep 2025 Δ shares End % Δ value
U.S. Treasury Bills 5,500,000 5,500,000 0 3.42% $60.59K
FREMF 2017-K69 Mortgage Trust 3.73 3,895,000 3,895,000 0 2.40% $14.33K
US TREASURY N/B 3,000,000 3,000,000 0 1.89% $2.44K
State Street Corp 2,750,000 2,750,000 0 1.69% $21.09K
Bunker Hill Loan Depositary Trust 2019-3 2,650,000 2,650,000 0 1.65% $17.59K
FREMF MORTGAGE TRUST FREMF 2017 K65 B 144A 2,650,000 2,650,000 0 1.65% $7.87K
HHT 2025-MAUI B 144A FRN 03-15-42 2,500,000 2,500,000 0 1.57% $3.12K
UST BILLS 0% 11/13/2025 2,500,000 2,500,000 0 1.56% $26.75K
SMB Private Education Loan Trust, Series 2021-C, Class C 2,846,381 2,846,381 0 1.56% $19.66K
SWCH COMMERCIAL MORTGAGE TRUST SWCH 2025 DATA A 144A 2,500,000 2,500,000 0 1.56% $5.22K
MTB F 02/01/27 2,411,000 2,411,000 0 1.49% $18.34K
Nelnet Student Loan Trust 2004-4 2,284,939 2,284,939 0 1.41% -$1.62K
SMB Private Education Loan Trust 2015-A 2,260,000 2,260,000 0 1.41% $12.55K
DOMINION ENERGY 2,000,000 2,000,000 0 1.31% -$10.62K
US TREASURY N/B 2,200,000 2,200,000 0 1.30% $14.52K
ASHTEAD CAPITAL 2,000,000 2,000,000 0 1.30% $44.23K
Sunoco L.P. 2,000,000 2,000,000 0 1.28% $2.29K
ET V6.5 PERP H 2,000,000 2,000,000 0 1.26% -$1.48K
ICG US CLO 2015-2R Ltd 2,000,000 2,000,000 0 1.25% $544
FREMF Mortgage Trust, Series 2019-K98, Class B 2,000,000 2,000,000 0 1.21% $35.18K
HEALTH CARE SERVICE CORP SR UNSECURED 144A 06/30 2.2 2,000,000 2,000,000 0 1.13% $20.10K
ROYAL CARIBBEAN CRUISES SR UNSECURED 144A 09/31 5.625 1,750,000 1,750,000 0 1.12% $23.75K
New York Life Global Funding 1,750,000 1,750,000 0 1.10% $34.77K
US BANCORP 2,000,000 2,000,000 0 1.08% $26.64K
FREMF Mortgage Trust, Series 2017-K70, Class C 1,750,000 1,750,000 0 1.07% $7.34K
MERCK & CO INC 1,900,000 1,900,000 0 1.06% $25.62K
BOEING CO 2,034,000 2,034,000 0 1.03% $58.96K
LAS VEGAS SAN 1,500,000 1,500,000 0 0.96% $3.47K
EXPAND ENERGY CORP REGD 144A P/P 5.87500000 1,500,000 1,500,000 0 0.94% -$456
Trysail CLO 2022-1 Ltd 1,500,000 1,500,000 0 0.94% -$105
TRYSL 2021-1A C CLO 144A FRN 07-20-32 1,500,000 1,500,000 0 0.94% -$258
GRMPAC 7 1/8 08/15/28 1,500,000 1,500,000 0 0.94% $5.44K
Atlas Senior Loan Fund X Ltd 1,500,000 1,500,000 0 0.94% -$916
BSPRT 2021-FL6 ISSUER LTD BSPRT 2021-FL6 B 1,500,000 1,500,000 0 0.94% $9.24K
WOODS 2018-17A C 1,500,000 1,500,000 0 0.94% -$64
Comstock Resources, Inc. 1,500,000 1,500,000 0 0.94% -$5.81K
FREMF Mortgage Trust, Series 2016-K53, Class C 1,500,000 1,500,000 0 0.94% $7.71K
FREMF 2018-K83 Mortgage Trust 1,500,000 1,500,000 0 0.93% $21.25K
U.S. TREASURY INFLATION-PROTECTED SECURITIES 1.375 07/15/33 1,400,000 1,400,000 0 0.92% $30.12K
BMO Mortgage Trust, Series 2024-5C3, Class C 1,350,000 1,350,000 0 0.87% $4.58K
GAP INC/THE REGD 144A P/P 3.87500000 1,500,000 1,500,000 0 0.85% $22.17K
FREMF Mortgage Trust, Series 2016-K53, Class B 1,250,000 1,250,000 0 0.78% $4.64K
DUKE ENERGY CAROLINAS LLC 2.85% 03/15/2032 1,250,000 1,250,000 0 0.71% $18.02K
PNC FINANCIAL 1,000,000 1,000,000 0 0.65% $611
BBCMS Mortgage Trust, Series 2024-5C25, Class C 1,000,000 1,000,000 0 0.64% $614
SHERWIN-WILLIAMS 1,000,000 1,000,000 0 0.64% $10.25K
Canyon Capital CLO Ltd., Series 2016-1A, Class CR 1,000,000 1,000,000 0 0.63% -$164
FORD MOTOR CRED 1,000,000 1,000,000 0 0.63% $4.90K
BBCMS MORTGAGE TRUST 2024-C24 BBCMS 2024-C24 D 610,000 610,000 0 0.30% $3.48K

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