{"entity_type":"fund","name":"FPA Crescent Fund","identifiers":{"lei":"549300FMOJ71ODO86B07","cik":"924727","fund_id":"S000009495","fundkey":"fpa-crescent-fund"},"dates":{"reporting_period_start":"2025-12-31","reporting_period_end":"2025-12-31","filing_date":"2026-02-27"},"summary":{"total_positions":307,"total_value_usd":22447476475.92,"asset_categories":["ABS-MBS","EP","DE","LON","EC","DBT","ABS-APCP","STIV"],"by_asset_category":{"EC":{"positions":72,"total_value_usd":7086801383.23},"ABS-APCP":{"positions":126,"total_value_usd":8593613244.55},"DBT":{"positions":79,"total_value_usd":6380690511.4},"DE":{"positions":8,"total_value_usd":1087223.27},"Unknown":{"positions":10,"total_value_usd":255686179.29},"LON":{"positions":6,"total_value_usd":51126461.47},"ABS-MBS":{"positions":1,"total_value_usd":12603049.89},"EP":{"positions":3,"total_value_usd":23016231.6},"STIV":{"positions":2,"total_value_usd":42852191.22}}},"holdings":[{"issuer_name":"Alphabet Inc","title":"Alphabet, Inc. - Class A","isin":"US02079K3059","value_usd":435070313,"pct_val":3.6640596018,"balance":1390001,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Analog Devices Inc","title":"Analog Devices, Inc.","isin":"US0326541051","value_usd":341895331.2,"pct_val":2.8793618725,"balance":1260676,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Meta Platforms Inc","title":"Meta Platforms, Inc. - Class A","isin":"US30303M1027","value_usd":302308678.29,"pct_val":2.5459724148,"balance":457981,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"TE Connectivity PLC","title":"TE Connectivity PLC","isin":"CH0102993182","value_usd":261281584.4,"pct_val":2.2004519028,"balance":1148440,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"IE","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Citigroup Inc","title":"Citigroup, Inc.","isin":"US1729674242","value_usd":255821470.73,"pct_val":2.1544681128,"balance":2192317,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Alphabet Inc","title":"Alphabet, Inc. - Class C","isin":"US02079K1079","value_usd":241458117,"pct_val":2.033503334,"balance":769465,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"US TREASURY N/B","title":"United States Treasury Note","isin":"US91282CHV63","value_usd":231161238,"pct_val":2.0750325676,"balance":231000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Becton Dickinson & Co","title":"Becton Dickinson & Co.","isin":"US0758871091","value_usd":229010945.01,"pct_val":1.9286761861,"balance":1180043,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Heineken Holding NV","title":"Heineken Holding N.V.","isin":"NL0000008977","value_usd":226200821.29,"pct_val":1.9050099867,"balance":3088974,"units":"NS","currency":null,"asset_cat":"EC","issuer_cat":"CORP","inv_country":"NL","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JDE Peet's NV","title":"JDE Peet's N.V.","isin":"NL0014332678","value_usd":220098699.79,"pct_val":1.8536193581,"balance":5885188,"units":"NS","currency":null,"asset_cat":"EC","issuer_cat":"CORP","inv_country":"NL","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PEPSICO, Inc. DCP, 07/23/2025   /","title":"PEPSICO, Inc. DCP, 07/23/2025   /","isin":null,"value_usd":214448166.66,"pct_val":1.9250066912,"balance":215000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"IFF","title":"International Flavors & Fragrances, Inc.","isin":"US4595061015","value_usd":213159085.13,"pct_val":1.7951755596,"balance":3163067,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Amazon.com Inc","title":"Amazon.com, Inc.","isin":"US0231351067","value_usd":202127919.9,"pct_val":1.7022736867,"balance":875695,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Safran SA","title":"Safran S.A.","isin":"FR0000073272","value_usd":189806381.14,"pct_val":1.5985045923,"balance":544912,"units":"NS","currency":null,"asset_cat":"EC","issuer_cat":"CORP","inv_country":"FR","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Azelis Group NV","title":"Azelis Group N.V.","isin":"BE0974400328","value_usd":184966853.62,"pct_val":1.5577472325,"balance":16929662,"units":"NS","currency":null,"asset_cat":"EC","issuer_cat":"CORP","inv_country":"BE","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Prosus NV","title":"Prosus N.V.","isin":"NL0013654783","value_usd":178485816.79,"pct_val":1.5031654683,"balance":2882508,"units":"NS","currency":null,"asset_cat":"EC","issuer_cat":"CORP","inv_country":"NL","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Aon PLC","title":"Aon PLC - Class A","isin":"IE00BLP1HW54","value_usd":168587008.48,"pct_val":1.4198000385,"balance":477746,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"EXXON MOBIL Corp. DCP, 01/06/2026   /","title":"EXXON MOBIL Corp. DCP, 01/06/2026   /","isin":null,"value_usd":159919555.52,"pct_val":1.3468047932,"balance":160000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FPS LLC    /","title":"FPS LLC    /","isin":null,"value_usd":154474796.19,"pct_val":1.3009503138,"balance":2073733.54,"units":"OU","currency":"USD","asset_cat":null,"issuer_cat":"PF","inv_country":"US","fair_val_level":"3","payoff_profile":"Long"},{"issuer_name":"JOHNSON & JOHNSON Co. DCP, 07/22/2025   /","title":"JOHNSON & JOHNSON Co. DCP, 07/22/2025   /","isin":null,"value_usd":151620483.39,"pct_val":1.3610302647,"balance":152000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CISCO SYSTEMS, Inc. DCP 03/20/2026   /","title":"CISCO SYSTEMS, Inc. DCP 03/20/2026   /","isin":null,"value_usd":148745500.41,"pct_val":1.2526995355,"balance":150000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Glencore PLC","title":"Glencore PLC","isin":"JE00B4T3BW64","value_usd":147305014.56,"pct_val":1.2405681033,"balance":26947501,"units":"NS","currency":null,"asset_cat":"EC","issuer_cat":"CORP","inv_country":"CH","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DELIVERY HERO AG","title":"Delivery Hero S.E.","isin":"DE000A30V5R1","value_usd":143908614.41,"pct_val":1.211964422,"balance":126000000,"units":"PA","currency":null,"asset_cat":"DBT","issuer_cat":"CORP","inv_country":"DE","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Jefferies Financial Group Inc","title":"Jefferies Financial Group, Inc.","isin":"US47233W1099","value_usd":141121058.56,"pct_val":1.1884882838,"balance":2277248,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"ALPHABET, Inc. DCP, 09/23/2025   /","title":"ALPHABET, Inc. DCP, 09/23/2025   /","isin":null,"value_usd":140562013.48,"pct_val":1.2617632535,"balance":142000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797ST59","value_usd":139175134,"pct_val":1.1721001659,"balance":140000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JOHNSON & JOHNSON Co. DCP, 01/15/2026   /","title":"JOHNSON & JOHNSON Co. DCP, 01/15/2026   /","isin":null,"value_usd":138794048.39,"pct_val":1.1688907528,"balance":139000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797SR93","value_usd":138319297.69,"pct_val":1.1648925143,"balance":139000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797RW97","value_usd":136984499.4,"pct_val":1.1623905918,"balance":138000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CISCO SYSTEMS, Inc. DCP 04/07/2025   /","title":"CISCO SYSTEMS, Inc. DCP 04/07/2025   /","isin":null,"value_usd":134899874.99,"pct_val":1.2987805969,"balance":135000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JOHNSON & JOHNSON Co. DCP, 02/03/2026   /","title":"JOHNSON & JOHNSON Co. DCP, 02/03/2026   /","isin":null,"value_usd":131540200.04,"pct_val":1.1078005522,"balance":132000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Amrize Ltd","title":"Amrize Ltd.","isin":"CH1430134226","value_usd":131378761.28,"pct_val":1.106440953,"balance":2429341,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"CH","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797RC34","value_usd":130800843.61,"pct_val":1.1099187914,"balance":131000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797RL33","value_usd":130529639.47,"pct_val":1.0992898493,"balance":131000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EXXON MOBIL Corp. DCP, 02/05/2026   /","title":"EXXON MOBIL Corp. DCP, 02/05/2026   /","isin":null,"value_usd":130522395.83,"pct_val":1.0992288451,"balance":131000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797LW51","value_usd":129865949,"pct_val":1.1657493961,"balance":130000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797ND52","value_usd":128553310,"pct_val":1.2376775346,"balance":129000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Ferguson Enterprises Inc","title":"Ferguson Enterprises, Inc.","isin":"JE00BJVNSS43","value_usd":128441480.64,"pct_val":1.081703868,"balance":576928,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797PM34","value_usd":128339824.22,"pct_val":1.0808477416,"balance":129000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"COCA COLA Co. DCP, 07/21/2025   /","title":"COCA COLA Co. DCP, 07/21/2025   /","isin":null,"value_usd":124700694.7,"pct_val":1.1193831844,"balance":125000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Pepsico, Inc. DCP, 01/22/2026   /","title":"Pepsico, Inc. DCP, 01/22/2026   /","isin":null,"value_usd":123722240,"pct_val":1.0419595359,"balance":124000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"LPL Financial Holdings Inc","title":"LPL Financial Holdings, Inc.","isin":"US50212V1008","value_usd":122911483.42,"pct_val":1.0351315352,"balance":344126,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"EXXON MOBIL Corp. DCP, 01/23/2026   /","title":"EXXON MOBIL Corp. DCP, 01/23/2026   /","isin":null,"value_usd":122720380,"pct_val":1.0335221072,"balance":123000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Eurofins Scientific SE","title":"Eurofins Scientific S.E.","isin":"FR0014000MR3","value_usd":119729253.87,"pct_val":1.0083315481,"balance":1637209,"units":"NS","currency":null,"asset_cat":"EC","issuer_cat":"CORP","inv_country":"LU","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Comcast Corp","title":"Comcast Corp. - Class A","isin":"US20030N1019","value_usd":119444564.82,"pct_val":1.0059339641,"balance":3996138,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797PW16","value_usd":117991498.8,"pct_val":1.0591576894,"balance":119000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EXXON MOBIL Corp. DCP, 02/06/2026   /","title":"EXXON MOBIL Corp. DCP, 02/06/2026   /","isin":null,"value_usd":114558399.81,"pct_val":0.9647838344,"balance":115000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797KS58","value_usd":113788980,"pct_val":1.0955304397,"balance":114000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Samsung C&T Corp","title":"Samsung C&T Corp.","isin":"KR7028260008","value_usd":112253444.62,"pct_val":0.9453720452,"balance":675846,"units":"NS","currency":null,"asset_cat":"EC","issuer_cat":"CORP","inv_country":"KR","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797NC79","value_usd":111701626.75,"pct_val":1.0754339504,"balance":112000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797RU32","value_usd":111355377.78,"pct_val":0.937808738,"balance":112000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ECHOSTAR CORP","title":"EchoStar Corp.","isin":"US278768AB27","value_usd":110921226.32,"pct_val":0.9341524167,"balance":33209948,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797QF73","value_usd":110804478.13,"pct_val":0.9402383735,"balance":111000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fortune Brands Innovations Inc","title":"Fortune Brands Innovations, Inc.","isin":"US34964C1062","value_usd":109857875.58,"pct_val":0.9251971275,"balance":2196279,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797QK68","value_usd":109362630.72,"pct_val":0.9817001431,"balance":110000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797RB50","value_usd":107924279.92,"pct_val":0.9157982703,"balance":108000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EXXON MOBIL Corp. DCP, 01/21/2026   /","title":"EXXON MOBIL Corp. DCP, 01/21/2026   /","isin":null,"value_usd":107771999.94,"pct_val":0.9076303746,"balance":108000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797LB15","value_usd":107456375.84,"pct_val":1.0345617886,"balance":108000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ICON PLC","title":"ICON PLC","isin":"IE0005711209","value_usd":105731879.46,"pct_val":0.890448961,"balance":580243,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"IE","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"NXP Semiconductors NV","title":"NXP Semiconductors N.V.","isin":"NL0009538784","value_usd":104722767.6,"pct_val":0.8819504588,"balance":482460,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"NL","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"APPLE, Inc. DCP, 04/23/2025   /","title":"APPLE, Inc. DCP, 04/23/2025   /","isin":null,"value_usd":102729968.33,"pct_val":0.9890571774,"balance":103000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797QU41","value_usd":101075553.6,"pct_val":0.9073107037,"balance":102000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797SY45","value_usd":100350953.8,"pct_val":0.8451320737,"balance":101000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797SB42","value_usd":100318532.8,"pct_val":0.8448590317,"balance":101000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EXXON MOBIL Corp. DCP, 12/08/2025   /","title":"EXXON MOBIL Corp. DCP, 12/08/2025   /","isin":null,"value_usd":100246428.15,"pct_val":0.8506473759,"balance":101000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NESTLE CAPITAL Corp. DCP, 10/17/2025   /","title":"NESTLE CAPITAL Corp. DCP, 10/17/2025   /","isin":null,"value_usd":99812666.67,"pct_val":0.8469666655,"balance":100000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"WALMART STORES, Inc. DCP 01/22/2026   /","title":"WALMART STORES, Inc. DCP 01/22/2026   /","isin":null,"value_usd":99787666.6,"pct_val":0.8403882017,"balance":100000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EXXON MOBIL Corp. DCP, 10/20/2025   /","title":"EXXON MOBIL Corp. DCP, 10/20/2025   /","isin":null,"value_usd":99780972.04,"pct_val":0.8466977187,"balance":100000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EXXON MOBIL Corp. DCP, 02/04/2026   /","title":"EXXON MOBIL Corp. DCP, 02/04/2026   /","isin":null,"value_usd":99637333.49,"pct_val":0.8391221317,"balance":100000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Pepsico, Inc. DCP, 02/11/2026   /","title":"Pepsico, Inc. DCP, 02/11/2026   /","isin":null,"value_usd":99577472.09,"pct_val":0.8386179931,"balance":100000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797RT68","value_usd":99564250,"pct_val":0.8385066398,"balance":100000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NESTLE CAPITAL Corp. DCP, 11/24/2025   /","title":"NESTLE CAPITAL Corp. DCP, 11/24/2025   /","isin":null,"value_usd":99413500.36,"pct_val":0.8435795147,"balance":100000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"COCA COLA Co. DCP, 05/21/2025   /","title":"COCA COLA Co. DCP, 05/21/2025   /","isin":null,"value_usd":99405555.62,"pct_val":0.9570506042,"balance":100000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797RV15","value_usd":99392070,"pct_val":0.8370565804,"balance":100000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NESTLE CAPITAL Corp. DCP, 12/10/2025   /","title":"NESTLE CAPITAL Corp. DCP, 12/10/2025   /","isin":null,"value_usd":99251388.59,"pct_val":0.842203905,"balance":100000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797LN52","value_usd":99160530,"pct_val":0.9546915618,"balance":100000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Pepsico, Inc. DCP, 12/18/2025   /","title":"Pepsico, Inc. DCP, 12/18/2025   /","isin":null,"value_usd":99122500,"pct_val":0.8411102128,"balance":100000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EXXON MOBIL Corp. DCP, 12/22/2025   /","title":"EXXON MOBIL Corp. DCP, 12/22/2025   /","isin":null,"value_usd":99104833.05,"pct_val":0.8409602988,"balance":100000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JOHNSON & JOHNSON Co. DCP, 06/20/2025   /","title":"JOHNSON & JOHNSON Co. DCP, 06/20/2025   /","isin":null,"value_usd":99051111.4,"pct_val":0.9536381083,"balance":100000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797SS76","value_usd":98448322.5,"pct_val":0.8291085614,"balance":99000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DELIVERY HERO AG","title":"Delivery Hero S.E.","isin":"DE000A254Y92","value_usd":98340331.41,"pct_val":0.8281990859,"balance":86200000,"units":"PA","currency":null,"asset_cat":"DBT","issuer_cat":"CORP","inv_country":"DE","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PEPSICO, Inc. DCP, 05/16/2025   /","title":"PEPSICO, Inc. DCP, 05/16/2025   /","isin":null,"value_usd":97475700.24,"pct_val":0.938470463,"balance":98000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PEPSICO, Inc. DCP, 08/04/2025   /","title":"PEPSICO, Inc. DCP, 08/04/2025   /","isin":null,"value_usd":96617981.72,"pct_val":0.8672970452,"balance":97000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Cie Financiere Richemont SA","title":"Cie Financiere Richemont S.A.","isin":"CH0210483332","value_usd":96383513.45,"pct_val":0.8117192264,"balance":446942,"units":"NS","currency":null,"asset_cat":"EC","issuer_cat":"CORP","inv_country":"CH","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Pepsico, Inc. DCP, 03/09/2026   /","title":"Pepsico, Inc. DCP, 03/09/2026   /","isin":null,"value_usd":94358195.83,"pct_val":0.7946624789,"balance":95000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ALPHABET, Inc. DCP, 06/23/2025   /","title":"ALPHABET, Inc. DCP, 06/23/2025   /","isin":null,"value_usd":94058180.94,"pct_val":0.905567484,"balance":95000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NESTLE CAPITAL DCP,  08/21/25   /","title":"NESTLE CAPITAL DCP,  08/21/25   /","isin":null,"value_usd":93594646.39,"pct_val":0.8401578963,"balance":94175000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797SQ11","value_usd":92612582.67,"pct_val":0.7799613365,"balance":93000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Liberty Broadband Corp","title":"Liberty Broadband Corp. - Class C","isin":"US5303073051","value_usd":91879855.2,"pct_val":0.7737904785,"balance":1890532,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797QA86","value_usd":91849884.22,"pct_val":0.8244959351,"balance":92000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797MG92","value_usd":91606368.92,"pct_val":0.8223100056,"balance":92000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797RR03","value_usd":91384446.4,"pct_val":0.7754484719,"balance":92000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EXXON MOBIL Corp. DCP, 12/15/2025   /","title":"EXXON MOBIL Corp. DCP, 12/15/2025   /","isin":null,"value_usd":91245125.04,"pct_val":0.7742662517,"balance":92000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EXXON MOBIL Corp. DCP  02/13/2026   /","title":"EXXON MOBIL Corp. DCP  02/13/2026   /","isin":null,"value_usd":90605929.03,"pct_val":0.7630617726,"balance":91000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797QM25","value_usd":90320839.7,"pct_val":0.8107703763,"balance":91000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797QP55","value_usd":89631108,"pct_val":0.7605704086,"balance":90000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Vail Resorts Inc","title":"Vail Resorts, Inc.","isin":"US91879Q1094","value_usd":89352488,"pct_val":0.7525055878,"balance":672835,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797MH75","value_usd":89308980,"pct_val":0.8016873576,"balance":90000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797RK59","value_usd":88739717.44,"pct_val":0.7473449786,"balance":89000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PEPSICO, Inc. DCP, 08/06/2025   /","title":"PEPSICO, Inc. DCP, 08/06/2025   /","isin":null,"value_usd":86629380.06,"pct_val":0.7776337698,"balance":87000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797SG39","value_usd":85826727.92,"pct_val":0.7228124676,"balance":86000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JOHNSON & JOHNSON Co. DCP, 07/21/2025   /","title":"JOHNSON & JOHNSON Co. DCP, 07/21/2025   /","isin":null,"value_usd":85797900,"pct_val":0.7701699397,"balance":86000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PEPSICO, Inc. DCP, 08/05/2025   /","title":"PEPSICO, Inc. DCP, 08/05/2025   /","isin":null,"value_usd":85643816.61,"pct_val":0.768786801,"balance":86000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Nippon Paint Holdings Co Ltd","title":"Nippon Paint Holdings Co., Ltd.","isin":"JP3749400002","value_usd":85620377.85,"pct_val":0.721074636,"balance":12787300,"units":"NS","currency":null,"asset_cat":"EC","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EXXON MOBIL Corp. DCP, 01/05/2026   /","title":"EXXON MOBIL Corp. DCP, 01/05/2026   /","isin":null,"value_usd":84965716.61,"pct_val":0.7155612334,"balance":85000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EXXON MOBIL Corp. DCP, 10/27/2025   /","title":"EXXON MOBIL Corp. DCP, 10/27/2025   /","isin":null,"value_usd":84745850,"pct_val":0.7191162443,"balance":85000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NESTLE CAPITAL DCP,  07/24/25   /","title":"NESTLE CAPITAL DCP,  07/24/25   /","isin":null,"value_usd":81774727.76,"pct_val":0.7340556954,"balance":82000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797MV69","value_usd":80981244.74,"pct_val":0.7796661738,"balance":81000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"LG Corp","title":"LG Corp.","isin":"KR7003550001","value_usd":80802711.81,"pct_val":0.6805013884,"balance":1442197,"units":"NS","currency":null,"asset_cat":"EC","issuer_cat":"CORP","inv_country":"KR","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797RE99","value_usd":80749017.45,"pct_val":0.6852008701,"balance":81000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797QC43","value_usd":80735242.5,"pct_val":0.7247246943,"balance":81000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Holcim AG","title":"Holcim A.G.","isin":"CH0012214059","value_usd":80484486.44,"pct_val":0.6778213694,"balance":826751,"units":"NS","currency":null,"asset_cat":"EC","issuer_cat":"CORP","inv_country":"CH","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NESTLE CAPITAL Corp. DCP, 01/07/2026   /","title":"NESTLE CAPITAL Corp. DCP, 01/07/2026   /","isin":null,"value_usd":79951733.29,"pct_val":0.673334648,"balance":80000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ROCHE HOLDINGS DCP DCP, 10/22/2025   /","title":"ROCHE HOLDINGS DCP DCP, 10/22/2025   /","isin":null,"value_usd":79799800,"pct_val":0.6771462257,"balance":80000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797RM16","value_usd":79693818.67,"pct_val":0.6762469145,"balance":80000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NESTLE CAPITAL Corp. DCP, 11/07/2025   /","title":"NESTLE CAPITAL Corp. DCP, 11/07/2025   /","isin":null,"value_usd":79662888.66,"pct_val":0.6759844559,"balance":80000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PEPSICO, Inc. DCP, 08/11/2025   /","title":"PEPSICO, Inc. DCP, 08/11/2025   /","isin":null,"value_usd":79615624.89,"pct_val":0.7146743804,"balance":80000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"COCA COLA Co. DCP, 08/11/2025   /","title":"COCA COLA Co. DCP, 08/11/2025   /","isin":null,"value_usd":79605488.71,"pct_val":0.7145833924,"balance":80000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797PN17","value_usd":79585500.44,"pct_val":0.7144039665,"balance":80000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"KENVUE, Inc. DCP 05/14/2025   /","title":"KENVUE, Inc. DCP 05/14/2025   /","isin":null,"value_usd":79585288.96,"pct_val":0.7662262779,"balance":80000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797QY62","value_usd":79393352,"pct_val":0.6736972856,"balance":80000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Pernod Ricard SA","title":"Pernod Ricard S.A.","isin":"FR0000120693","value_usd":79304713.39,"pct_val":0.6678855989,"balance":926151,"units":"NS","currency":null,"asset_cat":"EC","issuer_cat":"CORP","inv_country":"FR","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EXXON MOBIL Corp. DCP  02/02/2026   /","title":"EXXON MOBIL Corp. DCP  02/02/2026   /","isin":null,"value_usd":78740515.6,"pct_val":0.6631340581,"balance":79000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NOV Inc","title":"NOV, Inc.","isin":"US62955J1034","value_usd":78732795.81,"pct_val":0.6630690439,"balance":5037287,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797NB96","value_usd":77918652.6,"pct_val":0.7501803404,"balance":78000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Thermo Fisher Scientific Inc","title":"Thermo Fisher Scientific, Inc.","isin":"US8835561023","value_usd":77918641.5,"pct_val":0.6562124282,"balance":134470,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797SZ10","value_usd":77443485.6,"pct_val":0.6522107773,"balance":78000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NESTLE CAPITAL DCP,  01/09/26   /","title":"NESTLE CAPITAL DCP,  01/09/26   /","isin":null,"value_usd":76927620,"pct_val":0.6478662788,"balance":77000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Marriott International Inc/MD","title":"Marriott International, Inc. - Class A","isin":"US5719032022","value_usd":75835065.6,"pct_val":0.6386650432,"balance":244440,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"NESTLE CAPITAL Corp. DCP, 11/19/2025   /","title":"NESTLE CAPITAL Corp. DCP, 11/19/2025   /","isin":null,"value_usd":75596566.67,"pct_val":0.6414794247,"balance":76000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797NL78","value_usd":75504100,"pct_val":0.640694793,"balance":76000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797PV33","value_usd":75436847.6,"pct_val":0.6353113451,"balance":76000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"KENVUE, Inc. DCP 10/21/2025   /","title":"KENVUE, Inc. DCP 10/21/2025   /","isin":null,"value_usd":74829166.55,"pct_val":0.6349676027,"balance":75000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PEPSICO, Inc. DCP, 07/28/2025   /","title":"PEPSICO, Inc. DCP, 07/28/2025   /","isin":null,"value_usd":74764425.02,"pct_val":0.6711272969,"balance":75000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Bio-Rad Laboratories Inc","title":"Bio-Rad Laboratories, Inc. - Class A","isin":"US0905722072","value_usd":73900169.97,"pct_val":0.6223698084,"balance":243903,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797SH12","value_usd":73799152.6,"pct_val":0.621519064,"balance":74000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797NA14","value_usd":72757721.11,"pct_val":0.6173902221,"balance":73000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"WALMART STORES, Inc. DCP 01/21/2026   /","title":"WALMART STORES, Inc. DCP 01/21/2026   /","isin":null,"value_usd":71854399.85,"pct_val":0.6051408148,"balance":72000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797PU59","value_usd":71000000,"pct_val":0.6373357124,"balance":71000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CarMax Inc","title":"CarMax, Inc.","isin":"US1431301027","value_usd":70954438.8,"pct_val":0.597561555,"balance":1836295,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"ALPHABET, Inc. DCP, 12/05/2025   /","title":"ALPHABET, Inc. DCP, 12/05/2025   /","isin":null,"value_usd":69488125,"pct_val":0.5896458585,"balance":70000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JOHNSON & JOHNSON DCP, 06/16/2025   /","title":"JOHNSON & JOHNSON DCP, 06/16/2025   /","isin":null,"value_usd":69376377.53,"pct_val":0.6679375576,"balance":70000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EXXON MOBIL Corp. DCP, 12/23/2025   /","title":"EXXON MOBIL Corp. DCP, 12/23/2025   /","isin":null,"value_usd":69372197.15,"pct_val":0.5886621454,"balance":70000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CHEVRON Corp. DCP  06/02/2026   /","title":"CHEVRON Corp. DCP  06/02/2026   /","isin":null,"value_usd":69259887.8,"pct_val":0.583290446,"balance":70350000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797PE18","value_usd":68871757.78,"pct_val":0.6182314198,"balance":69000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Kinder Morgan Inc","title":"Kinder Morgan, Inc.","isin":"US49456B1017","value_usd":68399628.36,"pct_val":0.5760455438,"balance":2488164,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"EXXON MOBIL Corp. DCP, 12/29/2025   /","title":"EXXON MOBIL Corp. DCP, 12/29/2025   /","isin":null,"value_usd":68336430.98,"pct_val":0.5798730864,"balance":69000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Charter Communications Inc","title":"Charter Communications, Inc. - Class A","isin":"US16119P1084","value_usd":67963990,"pct_val":0.5723767003,"balance":325576,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Merck KGaA","title":"Merck KGaA","isin":"DE0006599905","value_usd":66386904.75,"pct_val":0.5590948601,"balance":465134,"units":"NS","currency":null,"asset_cat":"EC","issuer_cat":"CORP","inv_country":"DE","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Wells Fargo & Co","title":"Wells Fargo & Co.","isin":"US9497461015","value_usd":65538612.8,"pct_val":0.5519507453,"balance":703204,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797RA77","value_usd":65343590.4,"pct_val":0.5544771492,"balance":66000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797NY99","value_usd":64946668.75,"pct_val":0.6252894839,"balance":65000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797QE09","value_usd":64938939,"pct_val":0.5510434543,"balance":65000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EXXON MOBIL Corp. DCP, 10/23/2025   /","title":"EXXON MOBIL Corp. DCP, 10/23/2025   /","isin":null,"value_usd":64831180.49,"pct_val":0.5501290627,"balance":65000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JOHNSON & JOHNSON Co. DCP, 05/07/2025   /","title":"JOHNSON & JOHNSON Co. DCP, 05/07/2025   /","isin":null,"value_usd":64721149.88,"pct_val":0.6231182474,"balance":65000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797NP82","value_usd":64507384.5,"pct_val":0.6210601704,"balance":65000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PEPSICO, Inc. DCP, 09/08/2025   /","title":"PEPSICO, Inc. DCP, 09/08/2025   /","isin":null,"value_usd":64473012.5,"pct_val":0.5787458219,"balance":65000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PEPSICO, Inc. DCP, 09/09/2025   /","title":"PEPSICO, Inc. DCP, 09/09/2025   /","isin":null,"value_usd":64465375,"pct_val":0.5786772634,"balance":65000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NESTLE CAPITAL DCP,  08/08/25   /","title":"NESTLE CAPITAL DCP,  08/08/25   /","isin":null,"value_usd":63710862.16,"pct_val":0.5719043341,"balance":64000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NCR Atleos Corp","title":"NCR Atleos Corp.","isin":"US63001N1063","value_usd":63291601.71,"pct_val":0.5330269477,"balance":1660761,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"TOTAL CAPITAL S.A. DCP,  05/20/2025   /","title":"TOTAL CAPITAL S.A. DCP,  05/20/2025   /","isin":null,"value_usd":62824082.99,"pct_val":0.6048537852,"balance":63200000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"FR","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797SE80","value_usd":60967699.65,"pct_val":0.5134555924,"balance":61000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"KENVUE, Inc. DCP 10/23/2025   /","title":"KENVUE, Inc. DCP 10/23/2025   /","isin":null,"value_usd":60847160.92,"pct_val":0.5163224139,"balance":61000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Westinghouse Air Brake Technol","title":"Westinghouse Air Brake Technologies Corp.","isin":"US9297401088","value_usd":60045832.95,"pct_val":0.5056918484,"balance":281311,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"EXXON MOBIL Corp. DCP, 10/01/2025   /","title":"EXXON MOBIL Corp. DCP, 10/01/2025   /","isin":null,"value_usd":60000000,"pct_val":0.5091337766,"balance":60000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797PZ47","value_usd":59951116.67,"pct_val":0.5381547557,"balance":60000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"KENVUE, Inc. DCP 04/23/2025   /","title":"KENVUE, Inc. DCP 04/23/2025   /","isin":null,"value_usd":59840866.8,"pct_val":0.5761321625,"balance":60000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NESTLE CAPITAL DCP,  05/02/25   /","title":"NESTLE CAPITAL DCP,  05/02/25   /","isin":null,"value_usd":59777833.1,"pct_val":0.5755252906,"balance":60000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ROCHE HLDGS, Inc. DCP, 05/09/2025   /","title":"ROCHE HLDGS, Inc. DCP, 05/09/2025   /","isin":null,"value_usd":59728933.43,"pct_val":0.5750544974,"balance":60000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ROCHE HLDGS, Inc. DCP, 05/13/2025   /","title":"ROCHE HLDGS, Inc. DCP, 05/13/2025   /","isin":null,"value_usd":59701800.14,"pct_val":0.5747932652,"balance":60000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PEPSICO, Inc. DCP, 08/12/2025   /","title":"PEPSICO, Inc. DCP, 08/12/2025   /","isin":null,"value_usd":59701800,"pct_val":0.5359167498,"balance":60000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NESTLE CAPITAL Corp. DCP, 11/26/2025   /","title":"NESTLE CAPITAL Corp. DCP, 11/26/2025   /","isin":null,"value_usd":59635066.5,"pct_val":0.5060371104,"balance":60000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ROCHE HLDGS, Inc. DCP, 05/23/2025   /","title":"ROCHE HLDGS, Inc. DCP, 05/23/2025   /","isin":null,"value_usd":59629066.51,"pct_val":0.5740930049,"balance":60000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"WAL-MART STORES, Inc. DCP,  04/21/2025   /","title":"WAL-MART STORES, Inc. DCP,  04/21/2025   /","isin":null,"value_usd":59358191.67,"pct_val":0.571485093,"balance":59500000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"IMCD NV","title":"IMCD N.V.","isin":"NL0010801007","value_usd":58097348.22,"pct_val":0.4892821694,"balance":640089,"units":"NS","currency":null,"asset_cat":"EC","issuer_cat":"CORP","inv_country":"NL","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797RX70","value_usd":57533216,"pct_val":0.4882017257,"balance":58000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ALPHABET, Inc. DCP, 09/15/2025   /","title":"ALPHABET, Inc. DCP, 09/15/2025   /","isin":null,"value_usd":57472264.44,"pct_val":0.5159031916,"balance":58000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JOHNSON & JOHNSON Co. DCP, 06/18/2025   /","title":"JOHNSON & JOHNSON Co. DCP, 06/18/2025   /","isin":null,"value_usd":56476359.92,"pct_val":0.5437395732,"balance":57000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Douglas Emmett Inc","title":"Douglas Emmett, Inc. - REIT","isin":"US25960P1093","value_usd":56262799.46,"pct_val":0.4738320323,"balance":5119454,"units":"NS","currency":"USD","asset_cat":null,"issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"EXXON MOBIL Corp. DCP, 10/03/2025   /","title":"EXXON MOBIL Corp. DCP, 10/03/2025   /","isin":null,"value_usd":54986952.78,"pct_val":0.4665952488,"balance":55000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EXXON MOBIL Corp. DCP, 10/06/2025   /","title":"EXXON MOBIL Corp. DCP, 10/06/2025   /","isin":null,"value_usd":54967381.96,"pct_val":0.4664291794,"balance":55000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797QS94","value_usd":54619042.5,"pct_val":0.463473323,"balance":55000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"COCA COLA Co. DCP, 05/28/2025   /","title":"COCA COLA Co. DCP, 05/28/2025   /","isin":null,"value_usd":54590779.83,"pct_val":0.5255857029,"balance":54965000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ROCHE HLDGS, Inc. DCP, 05/19/2025   /","title":"ROCHE HLDGS, Inc. DCP, 05/19/2025   /","isin":null,"value_usd":53693280.13,"pct_val":0.5169448113,"balance":54000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PEPSICO, Inc. DCP, 08/01/2025   /","title":"PEPSICO, Inc. DCP, 08/01/2025   /","isin":null,"value_usd":52809685.83,"pct_val":0.474049278,"balance":53000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797SF55","value_usd":50935772.3,"pct_val":0.4289690654,"balance":51000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JOHNSON & JOHNSON Co. DCP, 01/16/2026   /","title":"JOHNSON & JOHNSON Co. DCP, 01/16/2026   /","isin":null,"value_usd":50918187.54,"pct_val":0.4288209707,"balance":51000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797PF82","value_usd":50863150,"pct_val":0.4565760837,"balance":51000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EXXON MOBIL Corp. DCP, 12/12/2025   /","title":"EXXON MOBIL Corp. DCP, 12/12/2025   /","isin":null,"value_usd":50597100.09,"pct_val":0.4293448775,"balance":51000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"WALMART STORES, Inc. DCP  07/07/2025   /","title":"WALMART STORES, Inc. DCP  07/07/2025   /","isin":null,"value_usd":49964000,"pct_val":0.4485048103,"balance":50000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PEPSICO, Inc. DCP, 07/21/2025   /","title":"PEPSICO, Inc. DCP, 07/21/2025   /","isin":null,"value_usd":49883333.33,"pct_val":0.4477807012,"balance":50000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797PA95","value_usd":49876848.41,"pct_val":0.4802012082,"balance":50000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ROCHE HLDGS, Inc. DCP, 07/25/2025   /","title":"ROCHE HLDGS, Inc. DCP, 07/25/2025   /","isin":null,"value_usd":49857000,"pct_val":0.4475443185,"balance":50000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797PB78","value_usd":49835733.33,"pct_val":0.479805363,"balance":50000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JOHNSON & JOHNSON Co. DCP, 08/12/2025   /","title":"JOHNSON & JOHNSON Co. DCP, 08/12/2025   /","isin":null,"value_usd":49748583.28,"pct_val":0.4465711094,"balance":50000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797RP47","value_usd":49725366.67,"pct_val":0.4219477287,"balance":50000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PEPSICO, Inc. DCP, 12/03/2025   /","title":"PEPSICO, Inc. DCP, 12/03/2025   /","isin":null,"value_usd":49658749.87,"pct_val":0.4213824477,"balance":50000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797PQ48","value_usd":49654940.28,"pct_val":0.4457305174,"balance":50000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PEPSICO, Inc. DCP, 09/10/2025   /","title":"PEPSICO, Inc. DCP, 09/10/2025   /","isin":null,"value_usd":49585833.4,"pct_val":0.4451101754,"balance":50000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797PX98","value_usd":49537255,"pct_val":0.4446741085,"balance":50000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Grupo Mexico SAB de CV","title":"Grupo Mexico S.A.B. de C.V.","isin":"MXP370841019","value_usd":49417426.67,"pct_val":0.4161819165,"balance":5233690,"units":"NS","currency":null,"asset_cat":"EC","issuer_cat":"CORP","inv_country":"MX","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Uber Technologies Inc","title":"Uber Technologies, Inc.","isin":"US90353T1007","value_usd":49248006.07,"pct_val":0.4147550962,"balance":602717,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797RN98","value_usd":48770703.34,"pct_val":0.413846873,"balance":49000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PEPSICO, Inc. DCP, 09/16/2025   /","title":"PEPSICO, Inc. DCP, 09/16/2025   /","isin":null,"value_usd":48565057.02,"pct_val":0.4359471157,"balance":49000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Hirose Electric Co Ltd","title":"Hirose Electric Co., Ltd.","isin":"JP3799000009","value_usd":48504257.12,"pct_val":0.4084914179,"balance":438300,"units":"NS","currency":null,"asset_cat":"EC","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Dell Technologies Inc","title":"Dell Technologies, Inc. - Class C","isin":"US24703L2025","value_usd":48210151.8,"pct_val":0.4060145322,"balance":382985,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Vornado Realty Trust","title":"Vornado Realty Trust - REIT","isin":"US9290421091","value_usd":48209907.2,"pct_val":0.4060124722,"balance":1448615,"units":"NS","currency":"USD","asset_cat":null,"issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"NESTLE CAPITAL DCP,  10/07/25   /","title":"NESTLE CAPITAL DCP,  10/07/25   /","isin":null,"value_usd":47965760.01,"pct_val":0.4070164757,"balance":48000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Orion Corp/Republic of Korea","title":"Orion Corp./Republic of Korea","isin":"KR7271560005","value_usd":47710798.66,"pct_val":0.4018090978,"balance":651117,"units":"NS","currency":null,"asset_cat":"EC","issuer_cat":"CORP","inv_country":"KR","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797QQ39","value_usd":46768006.04,"pct_val":0.396852859,"balance":47000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NESTLE CAPITAL DCP,  10/02/25   /","title":"NESTLE CAPITAL DCP,  10/02/25   /","isin":null,"value_usd":44994612.5,"pct_val":0.3818046165,"balance":45000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"COCA COLA Co. DCP, 10/17/2025   /","title":"COCA COLA Co. DCP, 10/17/2025   /","isin":null,"value_usd":44917600.08,"pct_val":0.3811511227,"balance":45000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TOTAL FINA ELF CAP DCP,  11/20/2025   /","title":"TOTAL FINA ELF CAP DCP,  11/20/2025   /","isin":null,"value_usd":44746250.08,"pct_val":0.3796971215,"balance":45000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"FR","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PEPSICO, Inc. DCP, 12/05/2025   /","title":"PEPSICO, Inc. DCP, 12/05/2025   /","isin":null,"value_usd":44683125.11,"pct_val":0.3791614706,"balance":45000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NESTLE CAPITAL Corp. DCP, 12/17/2025   /","title":"NESTLE CAPITAL Corp. DCP, 12/17/2025   /","isin":null,"value_usd":43637672.13,"pct_val":0.3702902135,"balance":44000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PEPSICO, Inc. DCP, 09/15/2025   /","title":"PEPSICO, Inc. DCP, 09/15/2025   /","isin":null,"value_usd":42623272.28,"pct_val":0.3826103324,"balance":43000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"WAL-MART STORES, Inc. DCP,  04/14/2025   /","title":"WAL-MART STORES, Inc. DCP,  04/14/2025   /","isin":null,"value_usd":41934480,"pct_val":0.4037341693,"balance":42000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NESTLE CAPITAL Corp. DCP, 11/14/2025   /","title":"NESTLE CAPITAL Corp. DCP, 11/14/2025   /","isin":null,"value_usd":41785426.69,"pct_val":0.3545728683,"balance":42000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"WAYFAIR INC","title":"Wayfair, Inc.","isin":"US94419LAM37","value_usd":41668000,"pct_val":0.3535764367,"balance":41668000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ROCHE HOLDINGS DCP DCP, 10/10/2025   /","title":"ROCHE HOLDINGS DCP DCP, 10/10/2025   /","isin":null,"value_usd":40956772.53,"pct_val":0.3475412712,"balance":41000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Howmet Aerospace Inc","title":"Howmet Aerospace, Inc.","isin":"US4432011082","value_usd":40775613.05,"pct_val":0.3460040311,"balance":207795.001,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797RQ20","value_usd":40744132.66,"pct_val":0.3457369022,"balance":41000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797PC51","value_usd":39836666.66,"pct_val":0.3835369729,"balance":40000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EXXON MOBIL Corp. DCP, 11/10/2025   /","title":"EXXON MOBIL Corp. DCP, 11/10/2025   /","isin":null,"value_usd":39815555.56,"pct_val":0.3378574028,"balance":40000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797QR12","value_usd":39772500,"pct_val":0.3374920521,"balance":40000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797NZ64","value_usd":38936004.25,"pct_val":0.3748656316,"balance":39000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MSILF Treasury Portfolio","title":"MSILF Treasury Portfolio - Class Institutional","isin":"US61747C5821","value_usd":38486234.69,"pct_val":0.3241219949,"balance":38486234.69,"units":"PA","currency":"USD","asset_cat":"STIV","issuer_cat":"RF","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Mcdermott International Ltd","title":"Mcdermott International Ltd.","isin":"BMG5924V1485","value_usd":37682295,"pct_val":0.3173514043,"balance":2512153,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"3","payoff_profile":"Long"},{"issuer_name":"NCR Voyix Corp","title":"NCR Voyix Corp.","isin":"US62886E1082","value_usd":37089076.8,"pct_val":0.3123554605,"balance":3636184,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"JOHNSON & JOHNSON Co. DCP, 01/05/2026   /","title":"JOHNSON & JOHNSON Co. DCP, 01/05/2026   /","isin":null,"value_usd":34984950,"pct_val":0.2946350007,"balance":35000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NESTLE CAPITAL Corp. DCP, 10/24/2025   /","title":"NESTLE CAPITAL Corp. DCP, 10/24/2025   /","isin":null,"value_usd":34906754.12,"pct_val":0.2962034592,"balance":35000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PEPSICO, Inc. DCP, 08/18/2025   /","title":"PEPSICO, Inc. DCP, 08/18/2025   /","isin":null,"value_usd":34805399.97,"pct_val":0.3124327378,"balance":35000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Nexon Co Ltd","title":"Nexon Co., Ltd.","isin":"JP3758190007","value_usd":34083498.93,"pct_val":0.2892176755,"balance":1552337,"units":"NS","currency":null,"asset_cat":"EC","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"NESTLE CAPITAL DCP,  09/15/25   /","title":"NESTLE CAPITAL DCP,  09/15/25   /","isin":null,"value_usd":33687766.76,"pct_val":0.302400237,"balance":34000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797RH21","value_usd":31976639.28,"pct_val":0.269299717,"balance":32000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"COCA COLA Co. DCP, 07/09/2025   /","title":"COCA COLA Co. DCP, 07/09/2025   /","isin":null,"value_usd":31969208.89,"pct_val":0.2869735003,"balance":32000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"LEALAND FINANCE CO BV","title":"Lealand Finance Co. B.V.","isin":"XAN5200EAB73","value_usd":31258529.66,"pct_val":0.2632519671,"balance":40595493.06,"units":"PA","currency":"USD","asset_cat":"LON","issuer_cat":"CORP","inv_country":"NL","fair_val_level":"3","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797RD17","value_usd":30927158.61,"pct_val":0.262434351,"balance":31000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Nintendo Co Ltd","title":"Nintendo Co., Ltd.","isin":"JP3756600007","value_usd":30731280.97,"pct_val":0.258811603,"balance":455180,"units":"NS","currency":null,"asset_cat":"EC","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Hoshizaki Corp","title":"Hoshizaki Corp.","isin":"JP3845770001","value_usd":30611664.4,"pct_val":0.2578042204,"balance":919020,"units":"NS","currency":null,"asset_cat":"EC","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JOHNSON & JOHNSON Co. DCP, 04/01/2025   /","title":"JOHNSON & JOHNSON Co. DCP, 04/01/2025   /","isin":null,"value_usd":30000000,"pct_val":0.2888321276,"balance":30000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ROCHE HOLDINGS DCP DCP, 07/14/2025   /","title":"ROCHE HOLDINGS DCP DCP, 07/14/2025   /","isin":null,"value_usd":29953741.65,"pct_val":0.2688815391,"balance":30000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ROCHE HOLDINGS DCP DCP, 10/15/2025   /","title":"ROCHE HOLDINGS DCP DCP, 10/15/2025   /","isin":null,"value_usd":29950883.36,"pct_val":0.2541501059,"balance":30000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ROCHE HLDGS, Inc. DCP, 05/14/2025   /","title":"ROCHE HLDGS, Inc. DCP, 05/14/2025   /","isin":null,"value_usd":29846633.33,"pct_val":0.2873555536,"balance":30000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NESTLE CAPITAL DCP,  08/26/25   /","title":"NESTLE CAPITAL DCP,  08/26/25   /","isin":null,"value_usd":29796533.25,"pct_val":0.2674703485,"balance":30000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Sodexo SA","title":"Sodexo S.A.","isin":"FR0000121220","value_usd":28833404.73,"pct_val":0.2428281367,"balance":562744,"units":"NS","currency":null,"asset_cat":"EC","issuer_cat":"CORP","inv_country":"FR","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Avantor Inc","title":"Avantor, Inc.","isin":"US05352A1007","value_usd":28546653.72,"pct_val":0.2404131873,"balance":2490982,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"PEPSICO, Inc. DCP, 07/01/2025   /","title":"PEPSICO, Inc. DCP, 07/01/2025   /","isin":null,"value_usd":27745000,"pct_val":0.2490546386,"balance":27745000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NESTLE CAPITAL Corp. DCP, 10/15/2025   /","title":"NESTLE CAPITAL Corp. DCP, 10/15/2025   /","isin":null,"value_usd":24959166.65,"pct_val":0.2117925796,"balance":25000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PEPSICO, Inc. DCP, 08/15/2025   /","title":"PEPSICO, Inc. DCP, 08/15/2025   /","isin":null,"value_usd":24866250.03,"pct_val":0.2232133687,"balance":25000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TOTAL FINA ELF CAP DCP,  10/15/2025   /","title":"TOTAL FINA ELF CAP DCP,  10/15/2025   /","isin":null,"value_usd":24210674.58,"pct_val":0.205441203,"balance":24250000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"FR","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FOOTPATH VENTURES SPV IV LP   /","title":"FOOTPATH VENTURES SPV IV LP   /","isin":null,"value_usd":23758343.54,"pct_val":0.2000871679,"balance":150000,"units":"OU","currency":"USD","asset_cat":null,"issuer_cat":"PF","inv_country":"US","fair_val_level":"3","payoff_profile":"Long"},{"issuer_name":"Gulfport Energy Corp","title":"Gulfport Energy Corp.","isin":"US4026355028","value_usd":23235186.87,"pct_val":0.1956812658,"balance":111713,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797NM51","value_usd":22863638.75,"pct_val":0.2201251142,"balance":23000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NESTLE FIANCE INTL DCP,  11/12/2025   /","title":"NESTLE FIANCE INTL DCP,  11/12/2025   /","isin":null,"value_usd":22490578.3,"pct_val":0.1908452178,"balance":22600000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ROCHE HLDGS, Inc. DCP, 05/12/2025   /","title":"ROCHE HLDGS, Inc. DCP, 05/12/2025   /","isin":null,"value_usd":21893263.28,"pct_val":0.2107825938,"balance":22000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ROCHE HOLDINGS DCP DCP, 10/24/2025   /","title":"ROCHE HOLDINGS DCP DCP, 10/24/2025   /","isin":null,"value_usd":20180702.77,"pct_val":0.1712446236,"balance":20235000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797NE36","value_usd":19913426.17,"pct_val":0.1917212416,"balance":20000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ROCHE HLDGS, Inc. DCP, 05/22/2025   /","title":"ROCHE HLDGS, Inc. DCP, 05/22/2025   /","isin":null,"value_usd":19878733.27,"pct_val":0.1913872275,"balance":20000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"LEALAND FINANCE Co. B.V. LETTER OF CREDIT   /","title":"LEALAND FINANCE Co. B.V. LETTER OF CREDIT   /","isin":null,"value_usd":19875690.77,"pct_val":0.1673883817,"balance":26500921.03,"units":"PA","currency":"USD","asset_cat":"LON","issuer_cat":"CORP","inv_country":"US","fair_val_level":"3","payoff_profile":"Long"},{"issuer_name":"CISCO SYSTEMS, Inc. DCP 07/03/2025   /","title":"CISCO SYSTEMS, Inc. DCP 07/03/2025   /","isin":null,"value_usd":18995440,"pct_val":0.1705136942,"balance":19000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CHARLES SCHWAB CORP","title":"Charles Schwab Corp.","isin":"US808513BK01","value_usd":18811857.6,"pct_val":0.1584290295,"balance":18976000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EchoStar Corp","title":"EchoStar Corp. - Class A","isin":"US2787681061","value_usd":18484761.1,"pct_val":0.1556742999,"balance":170053,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"COCA COLA Co. DCP, 07/11/2025   /","title":"COCA COLA Co. DCP, 07/11/2025   /","isin":null,"value_usd":17978349.99,"pct_val":0.1613837253,"balance":18000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Broadcom Inc","title":"Broadcom, Inc.","isin":"US11135F1012","value_usd":17808575.5,"pct_val":0.1499796242,"balance":51455,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Swire Pacific Ltd","title":"Swire Pacific Ltd. - A Shares","isin":"HK0019000162","value_usd":16917783.28,"pct_val":0.1424775822,"balance":2098628,"units":"NS","currency":null,"asset_cat":"EC","issuer_cat":"CORP","inv_country":"HK","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Rohto Pharmaceutical Co Ltd","title":"Rohto Pharmaceutical Co., Ltd.","isin":"JP3982400008","value_usd":16890771.76,"pct_val":0.1422500975,"balance":1007600,"units":"NS","currency":null,"asset_cat":"EC","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Delivery Hero SE","title":"Delivery Hero S.E.","isin":"DE000A2E4K43","value_usd":15814029.1,"pct_val":0.1341909393,"balance":551839,"units":"NS","currency":null,"asset_cat":"EC","issuer_cat":"CORP","inv_country":"DE","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"ROCHE HOLDINGS DCP DCP, 04/25/2025   /","title":"ROCHE HOLDINGS DCP DCP, 04/25/2025   /","isin":null,"value_usd":14957300.03,"pct_val":0.1440049597,"balance":15000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"COCA COLA Co. DCP, 09/10/2025   /","title":"COCA COLA Co. DCP, 09/10/2025   /","isin":null,"value_usd":14875749.98,"pct_val":0.1335330523,"balance":15000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EPIC GAMES, INC. PRIVATE COMMON STOCK   /","title":"EPIC GAMES, INC. PRIVATE COMMON STOCK   /","isin":null,"value_usd":12981990.5,"pct_val":0.1093312633,"balance":33130,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"3","payoff_profile":"Long"},{"issuer_name":"Madison Avenue Trust","title":"Eleven Madison Trust 2015-11MD Mortgage Trust","isin":"US556227AA48","value_usd":12603049.89,"pct_val":0.1069439731,"balance":12681000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PG&E Corp","title":"PG&E Corp.","isin":"US69331C1080","value_usd":11581809.7,"pct_val":0.0975392707,"balance":720710,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"FPS SHELBY HOLDCO I LLC   /","title":"FPS SHELBY HOLDCO I LLC   /","isin":null,"value_usd":10276468.44,"pct_val":0.0865459944,"balance":107799.345,"units":"OU","currency":"USD","asset_cat":null,"issuer_cat":"PF","inv_country":"US","fair_val_level":"3","payoff_profile":"Long"},{"issuer_name":"NESTLE CAPITAL DCP,  07/17/25   /","title":"NESTLE CAPITAL DCP,  07/17/25   /","isin":null,"value_usd":9980800,"pct_val":0.0895932434,"balance":10000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NESTLE CAPITAL DCP,  07/22/25   /","title":"NESTLE CAPITAL DCP,  07/22/25   /","isin":null,"value_usd":9974625.01,"pct_val":0.0895378132,"balance":10000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PEPSICO, Inc. DCP, 05/05/2025   /","title":"PEPSICO, Inc. DCP, 05/05/2025   /","isin":null,"value_usd":9959577.75,"pct_val":0.0958882011,"balance":10000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TOTAL FINA ELF CAP DCP,  02/09/2026   /","title":"TOTAL FINA ELF CAP DCP,  02/09/2026   /","isin":null,"value_usd":9956666.66,"pct_val":0.0838526992,"balance":10000000,"units":"PA","currency":"USD","asset_cat":"ABS-APCP","issuer_cat":"CORP","inv_country":"FR","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"VORNADO REALTY LP","title":"Vornado Realty LP","isin":"US929043AK39","value_usd":8515988.57,"pct_val":0.071719648,"balance":8623000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Magnum Ice Cream Co NV/The","title":"Magnum Ice Cream Co. N.V.","isin":"NL0015002MS2","value_usd":5794715.73,"pct_val":0.0488017297,"balance":365104,"units":"NS","currency":null,"asset_cat":"EC","issuer_cat":"CORP","inv_country":"NL","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"ALTABA, Inc. ESCROW SHS ORD REG   /","title":"ALTABA, Inc. ESCROW SHS ORD REG   /","isin":"US021ESC0175","value_usd":5469607,"pct_val":0.0460637406,"balance":4756180,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"3","payoff_profile":"Long"},{"issuer_name":"MCDERMOTT INTERNATIO Ltd. AI CONTRA CUSIP   /","title":"MCDERMOTT INTERNATIO Ltd. AI CONTRA CUSIP   /","isin":null,"value_usd":4969515,"pct_val":0.0418520837,"balance":331301,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"3","payoff_profile":"Long"},{"issuer_name":"EUR SPOT FORWARD CONTRACT   /","title":"EUR SPOT FORWARD CONTRACT   /","isin":null,"value_usd":4365956.53,"pct_val":0.0367690566,"balance":3714992.41,"units":"OU","currency":null,"asset_cat":"STIV","issuer_cat":null,"inv_country":"XX","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"WAYFAIR INC","title":"Wayfair, Inc.","isin":"US94419LAF85","value_usd":4258749,"pct_val":0.03586618,"balance":4278000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CHARLES SCHWAB CORP","title":"Charles Schwab Corp.","isin":"US808513AR62","value_usd":2532254.48,"pct_val":0.0213260502,"balance":2588000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"VISION SOLUTIONS INC","title":"Vision Solutions, Inc.","isin":"US70477BAE20","value_usd":2296995.4,"pct_val":0.0193447537,"balance":2486598.54,"units":"PA","currency":"USD","asset_cat":"LON","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CORNERSTONE ONDEMAND INC","title":"Cornerstone OnDemand, Inc.","isin":"US86803YAB92","value_usd":2275626.43,"pct_val":0.0191647893,"balance":2487023.42,"units":"PA","currency":"USD","asset_cat":"LON","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DELIVERY HERO AG","title":"Delivery Hero S.E.","isin":"DE000A3H2WQ0","value_usd":1756258.08,"pct_val":0.0147907915,"balance":1600000,"units":"PA","currency":null,"asset_cat":"DBT","issuer_cat":"CORP","inv_country":"DE","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GULFPORT ENERGY Corp. CONV PFD Series A   /","title":"GULFPORT ENERGY Corp. CONV PFD Series A   /","isin":"US4026356018","value_usd":1672119.52,"pct_val":0.0150098801,"balance":1345,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"3","payoff_profile":"Long"},{"issuer_name":"Shiseido Co Ltd","title":"Shiseido Co., Ltd.","isin":"JP3351600006","value_usd":1212257.98,"pct_val":0.0102093509,"balance":83300,"units":"NS","currency":null,"asset_cat":"EC","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"LEALAND FINANCE CO BV","title":"Lealand Finance Co. B.V.","isin":"XAN5200EAC56","value_usd":880861.14,"pct_val":0.0074184048,"balance":1074220.9,"units":"PA","currency":"USD","asset_cat":"LON","issuer_cat":"CORP","inv_country":"NL","fair_val_level":"3","payoff_profile":"Long"},{"issuer_name":"BFZ0292   TRS CAD TRULIEVE CNS TRULCN   /","title":"BFZ0292   TRS CAD TRULIEVE CNS TRULCN   /","isin":null,"value_usd":738217.05,"pct_val":0.0356454513,"balance":521511,"units":"NC","currency":null,"asset_cat":"DE","issuer_cat":null,"inv_country":"CA","fair_val_level":"2","payoff_profile":"N/A"},{"issuer_name":"BGPVCY7   TRS CAD CRESCO LABS CL CN   /","title":"BGPVCY7   TRS CAD CRESCO LABS CL CN   /","isin":null,"value_usd":575024.07,"pct_val":0.0177610267,"balance":1600522,"units":"NC","currency":null,"asset_cat":"DE","issuer_cat":null,"inv_country":"CA","fair_val_level":"2","payoff_profile":"N/A"},{"issuer_name":"BMCJKX1   TRS CAD VERANO VRNO CN   /","title":"BMCJKX1   TRS CAD VERANO VRNO CN   /","isin":null,"value_usd":519267.35,"pct_val":0.019024301,"balance":1619914,"units":"NC","currency":null,"asset_cat":"DE","issuer_cat":null,"inv_country":"CA","fair_val_level":"2","payoff_profile":"N/A"},{"issuer_name":"U.S. FARMING REALTY TRUST II COM STOCK   /","title":"U.S. FARMING REALTY TRUST II COM STOCK   /","isin":null,"value_usd":479298.6,"pct_val":0.0040365398,"balance":120000,"units":"OU","currency":"USD","asset_cat":null,"issuer_cat":"PF","inv_country":"US","fair_val_level":"3","payoff_profile":"Long"},{"issuer_name":"MCDERMOTT INTERNATIO Ltd. QIB/AI CTRACUSIP   /","title":"MCDERMOTT INTERNATIO Ltd. QIB/AI CTRACUSIP   /","isin":null,"value_usd":126465,"pct_val":0.0010650584,"balance":8431,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"3","payoff_profile":"Long"},{"issuer_name":"ELECTRIQ POWER HOLDINGS INC","title":"Electriq Power Holdings, Inc.","isin":"US2850461169","value_usd":0,"pct_val":0,"balance":414327,"units":"NC","currency":"USD","asset_cat":"DE","issuer_cat":"CORP","inv_country":"US","fair_val_level":"3","payoff_profile":"N/A"},{"issuer_name":"MARIADB PLC","title":"MariaDB PLC","isin":"IE000UJTXLQ2","value_usd":0,"pct_val":0,"balance":316054,"units":"NC","currency":"USD","asset_cat":"DE","issuer_cat":"CORP","inv_country":"US","fair_val_level":"3","payoff_profile":"N/A"},{"issuer_name":"NORTHERN STAR INVESTMENT -A","title":"Northern Star Investment Corp. IV","isin":"US66575B1199","value_usd":0,"pct_val":0,"balance":70911,"units":"NC","currency":"USD","asset_cat":"DE","issuer_cat":"CORP","inv_country":"US","fair_val_level":"3","payoff_profile":"N/A"},{"issuer_name":"ROSS ACQUISITION CORP II -A","title":"Ross Acquisition Corp. II","isin":"KYG7641C1143","value_usd":0,"pct_val":0,"balance":77074,"units":"NC","currency":"USD","asset_cat":"DE","issuer_cat":"CORP","inv_country":"US","fair_val_level":"3","payoff_profile":"N/A"},{"issuer_name":"PERSHING SQUARE TONT SHS   /","title":"PERSHING SQUARE TONT SHS   /","isin":"US715ESC0184","value_usd":0,"pct_val":0,"balance":457176,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"3","payoff_profile":"Long"},{"issuer_name":"BFFY829   TRS USD GREEN THUMB (GTBIF)   /","title":"BFFY829   TRS USD GREEN THUMB (GTBIF)   /","isin":null,"value_usd":-745285.2,"pct_val":0.1406620143,"balance":2078319,"units":"NC","currency":"USD","asset_cat":"DE","issuer_cat":null,"inv_country":"US","fair_val_level":"2","payoff_profile":"N/A"},{"issuer_name":"LEALAND FINANCE Co. B.V. SENIOR EXIT LC   /","title":"LEALAND FINANCE Co. B.V. SENIOR EXIT LC   /","isin":null,"value_usd":-5461241.93,"pct_val":-0.045993292,"balance":-21844967.71,"units":"PA","currency":"USD","asset_cat":"LON","issuer_cat":"CORP","inv_country":"US","fair_val_level":"3","payoff_profile":"Short"},{"issuer_name":"SPDR Portfolio S&P 500 Growth","title":"SPDR Portfolio S&P 500 Growth ETF","isin":"US78464A4094","value_usd":-6246353.68,"pct_val":-0.0530038273,"balance":-59768,"units":"NS","currency":"USD","asset_cat":null,"issuer_cat":"RF","inv_country":"US","fair_val_level":"1","payoff_profile":"Short"},{"issuer_name":"Vanguard Growth ETF","title":"Vanguard Growth ETF","isin":"US9229087369","value_usd":-6326568.48,"pct_val":-0.0532808682,"balance":-12968,"units":"NS","currency":"USD","asset_cat":null,"issuer_cat":"RF","inv_country":"US","fair_val_level":"1","payoff_profile":"Short"},{"issuer_name":"iShares S&P 500 Growth ETF","title":"iShares S&P 500 Growth ETF","isin":"US4642873099","value_usd":-12468565.2,"pct_val":-0.1058027948,"balance":-103285,"units":"NS","currency":"USD","asset_cat":null,"issuer_cat":"RF","inv_country":"US","fair_val_level":"1","payoff_profile":"Short"},{"issuer_name":"Vanguard S&P 500 Growth ETF","title":"Vanguard S&P 500 Growth ETF","isin":"US9219325050","value_usd":-12733946.78,"pct_val":-0.1072422976,"balance":-28642,"units":"NS","currency":"USD","asset_cat":null,"issuer_cat":"RF","inv_country":"US","fair_val_level":"1","payoff_profile":"Short"}],"source_documents":[{"label":"SEC NPORT-P Filings","url":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=924727&type=NPORT&dateb=&owner=exclude&count=40"}],"dataset":{"json":"https://dealcharts.org/llm/facts/fund/fpa-crescent-fund.json","page":"https://dealcharts.org/capitalmarkets/funds/fpa-crescent-fund/"},"provenance":{"curator":"CMD+RVL","curator_url":"https://cmdrvl.com","platform":"Dealcharts","platform_url":"https://dealcharts.org/","source":"SEC NPORT-P Public Filings","license":"CC-BY 4.0","license_url":"https://creativecommons.org/licenses/by/4.0/","attribution":"Data curated by CMD+RVL from SEC NPORT-P public filings"},"citation":"Fund: FPA Crescent Fund | LEI: 549300FMOJ71ODO86B07 | 307 positions totaling $22,447,476,476 across ABS-MBS, EP, DE, LON, EC, DBT, ABS-APCP, STIV | Filing: Thu Feb 26 2026 19:00:00 GMT-0500 (Eastern Standard Time) | Source: SEC NPORT-P via Dealcharts.org","updated_at":"2026-02-27"}