The Ambassador Fund

SCHEDULE OF INVESTMENTS

As of July 31, 2025 (Unaudited)

Principal Amount¹
		EVENT LINKED BONDS — 83.8%
		EUROPE — 2.7%
		EARTHQUAKE — 0.5%
		Azzurro Re II DAC
	2,250,000	3-Month Euribor + 639.00 basis points, 4/20/2028^2,3	$	2,599,709
		MULTI-PERIL — 0.7%
		Lion RE DAC
	2,500,000	3-Month Euribor + 550.00 basis points, 6/15/2029^2,3,4		2,831,793
		Orange Capital Re DAC
	1,250,000	3-Month Euribor + 600.00 basis points, 1/17/2029^2,3		1,435,439
				4,267,232
		WINDSTORM — 1.5%
		Blue Sky Re DAC
	2,500,000	3-Month Euribor + 616.40 basis points, 1/26/2027^2,3,4		2,956,750
		Eiffel Re Ltd.
	2,500,000	3-Month Euribor + 358.00 basis points, 1/19/2027^2,3		2,878,295
		Taranis Reinsurance DAC
	1,300,000	3-Month Euribor + 631.00 basis points, 1/21/2028^2,3,4		1,490,037
		Windmill III Re DAC
	1,000,000	3-Month Euribor + 525.00 basis points, 7/5/2028^2,3		1,154,970
				8,480,052
		TOTAL EUROPE
		(Cost $14,560,155)		15,346,993
		GLOBAL — 24.9%
		MULTI-PERIL — 24.9%
		3264 re Ltd.
	4,250,000	3-Month U.S. Treasury Bill + 750.00 basis points, 6/8/2028^2,3,4		4,369,000
		3264 Re Ltd.
	4,200,000	3-Month U.S. Treasury Bill + 300.00 basis points, 2/7/2028^2,3,4		4,202,100
		Aragonite Re Ltd.
	750,000	3-Month U.S. Treasury Bill + 545.00 basis points, 4/7/2027^2,3,4		775,725
		Ashera Re
	250,000	3-Month U.S. Treasury Bill + 519.00 basis points, 4/7/2027^2,3,4		253,900
		Atlas Capital DAC
	4,000,000	SOFR + 725.00 basis points, 6/7/2028^2,3,4		4,053,600

The Ambassador Fund

SCHEDULE OF INVESTMENTS - Continued

As of July 31, 2025 (Unaudited)

Principal Amount¹			Value
		MULTI-PERIL (Continued)
		Bridge Street Re Ltd.
	8,250,000	JPMorgan 100% US Treasury Securities Money Market Fund Yield Index + 400.00 basis points, 1/7/2028^2,3,4	$	8,311,875
		Fuchsia 2023-1 - London Bridge 2 PCC Ltd.
	1,290,000	3-Month U.S. Treasury Bill + 1,029.00 basis points, 4/6/2027^2,3,4		1,336,569
		Fuchsia 2024-1 - London Bridge 2 PCC Ltd.
	4,250,000	3-Month U.S. Treasury Bill + 514.00 basis points, 4/6/2028^2,3,4		4,293,775
		Hypatia Ltd.
	1,000,000	3-Month U.S. Treasury Bill + 850.00 basis points, 7/5/2028^2,3,4		997,400
		Kendall Re Ltd.
	3,000,000	3-Month U.S. Treasury Bill + 625.00 basis points, 4/30/2027^2,3		3,150,000
		Kilimanjaro II Re Ltd.
	6,500,000	3-Month U.S. Treasury Bill + 625.00 basis points, 6/30/2028^2,3,4		6,776,250
	4,250,000	3-Month U.S. Treasury Bill + 725.00 basis points, 6/30/2028^2,3,4		4,482,475
	4,000,000	3-Month U.S. Treasury Bill + 375.00 basis points, 7/9/2029^2,3,4		4,033,600
	3,750,000	3-Month U.S. Treasury Bill + 400.00 basis points, 7/9/2029^2,3,4		3,787,500
	4,250,000	3-Month U.S. Treasury Bill + 375.00 basis points, 7/8/2030^2,3,4		4,292,925
	4,000,000	3-Month U.S. Treasury Bill + 400.00 basis points, 7/8/2030^2,3,4		4,048,000
		Kilimanjaro III Re Ltd.
	250,000	3-Month U.S. Treasury Bill + 486.00 basis points, 4/20/2026^2,3,4		248,825
		Matterhorn Re Ltd.
	1,250,000	SOFR + 575.00 basis points, 12/8/2025^2,3		1,212,750
	4,500,000	3-Month U.S. Treasury Bill + 700.00 basis points, 2/4/2028^2,3,4		4,500,450
		MMIFS Re Ltd.
	3,250,000	1/10/2028		2,353,998
		Mona Lisa Re Ltd.
	250,000	3-Month U.S. Treasury Bill + 1,225.00 basis points, 1/8/2026^2,3,4		258,750
	15,500,000	3-Month U.S. Treasury Bill + 975.00 basis points, 6/25/2027^2,3,4		16,943,050
	3,500,000	3-Month U.S. Treasury Bill + 800.00 basis points, 1/8/2029^2,3,4		3,535,700
		Montoya Re Ltd.
	7,500,000	1-Month U.S. Treasury Bill + 575.00 basis points, 4/7/2028^2,3,4		7,480,500
	5,250,000	1-Month U.S. Treasury Bill + 661.00 basis points, 4/7/2028^2,3,4		5,143,425
		Mystic Re IV Ltd.
	5,080,000	3-Month U.S. Treasury Bill + 893.00 basis points, 1/8/2026^2,3,4		5,219,700
	3,000,000	3-Month U.S. Treasury Bill + 400.00 basis points, 1/10/2028^2,3		2,982,900
		Northshore Re II Ltd.
	7,500,000	3-Month U.S. Treasury Bill + 500.00 basis points, 4/7/2028^2,3,4		7,507,500
		Ocelot Re Ltd.
	6,000,000	3-Month U.S. Treasury Bill + 450.00 basis points, 2/26/2029^2,3,4		6,042,600
	5,000,000	3-Month U.S. Treasury Bill + 625.00 basis points, 2/26/2029^2,3,4		4,932,000
		Phoenix 3 RE Pte Ltd.
	1,000,000	1/4/2039⁴		1,126,000
		Ramble Re Ltd.
	3,000,000	3-Month U.S. Treasury Bill + 625.00 basis points, 3/5/2027^2,3,4		3,003,300

The Ambassador Fund

SCHEDULE OF INVESTMENTS - Continued

As of July 31, 2025 (Unaudited)

Principal Amount¹			Value
		MULTI-PERIL (Continued)
		Riverfront Re Ltd.
	3,750,000	3-Month U.S. Treasury Bill + 550.00 basis points, 1/8/2029^2,3,4	$	3,726,375
		Titania Re Ltd.
	2,500,000	1-Month U.S. Treasury Bill + 625.00 basis points, 11/26/2027^2,3,4		2,514,000
		Wrigley Re Ltd.
	1,000,000	3-Month U.S. Treasury Bill + 623.00 basis points, 8/7/2026^2,3,4		1,020,400
		TOTAL GLOBAL
		(Cost $137,815,684)		138,916,917
		JAPAN — 2.7%
		EARTHQUAKE — 0.4%
		Nakama Re Pte Ltd.
	2,500,000	3-Month U.S. Treasury Bill + 210.00 basis points, 4/23/2030^2,3		2,475,250
		MULTI-PERIL — 2.3%
		Tomoni Re Pte Ltd.
	9,145,000	3-Month U.S. Treasury Bill + 209.00 basis points, 4/7/2026^2,3		9,107,506
	500,000	3-Month U.S. Treasury Bill + 275.00 basis points, 4/7/2026^2,3		501,650
	3,000,000	3-Month U.S. Treasury Bill + 400.00 basis points, 4/5/2028^2,3		3,034,200
				12,643,356
		TOTAL JAPAN
		(Cost $15,108,726)		15,118,606
		UNITED STATES — 53.5%
		EARTHQUAKE — 4.7%
		Logistics Re Ltd.
	1,250,000	1-Month U.S. Treasury Bill + 600.00 basis points, 12/21/2027^2,3,4		1,277,875
		Torrey Pines Re Ltd.
	5,475,000	3-Month U.S. Treasury Bill + 521.60 basis points, 6/5/2026^2,3		5,566,980
	4,125,000	3-Month U.S. Treasury Bill + 375.00 basis points, 6/7/2028^2,3,4		4,164,600
		Ursa Re II Ltd.
	4,000,000	3-Month U.S. Treasury Bill + 700.00 basis points, 12/6/2025^2,3,4		4,058,400
		Ursa Re Ltd.
	4,000,000	3-Month U.S. Treasury Bill + 550.00 basis points, 12/6/2025^2,3,4		4,038,000
		Veraison Re Ltd.
	3,750,000	1-Month U.S. Treasury Bill + 678.80 basis points, 3/9/2026^3,5		3,839,625
	3,000,000	1-Month U.S. Treasury Bill + 350.00 basis points, 3/8/2028^2,3,4		2,988,000
		Wrigley Re Ltd.
	250,000	3-Month U.S. Treasury Bill + 670.00 basis points, 8/7/2026^2,3,4		259,000
				26,192,480
		MULTI-PERIL — 21.5%
		Aquila Re I Ltd. Series 2023-1
	2,500,000	3-Month U.S. Treasury Bill + 534.00 basis points, 6/8/2026^2,3,4		2,513,500
		Atela Re Ltd.
	2,000,000	3-Month U.S. Treasury Bill + 1,425.00 basis points, 5/9/2027^2,3		2,123,400

The Ambassador Fund

SCHEDULE OF INVESTMENTS - Continued

As of July 31, 2025 (Unaudited)

Principal Amount¹			Value
		MULTI-PERIL (Continued)
		Finca RE Ltd.
	3,750,000	3-Month U.S. Treasury Bill + 525.00 basis points, 6/7/2028^2,3,4	$	3,811,875
		Foundation Re IV Ltd.
	13,250,000	3-Month U.S. Treasury Bill + 625.00 basis points, 1/8/2027^2,3,4		13,503,075
		Four Lakes Re Ltd.
	2,760,000	3-Month U.S. Treasury Bill + 681.00 basis points, 1/7/2026^2,3,4		2,761,656
	2,500,000	3-Month U.S. Treasury Bill + 550.00 basis points, 1/7/2028^2,3,4		2,493,750
		Genesee Street Re Ltd.
	6,750,000	1-Month U.S. Treasury Bill + 325.00 basis points, 4/7/2028^2,3,4		6,760,125
		Herbie Re Ltd.
	1,000,000	3-Month U.S. Treasury Bill + 1,075.00 basis points, 1/8/2029^2,3,4		1,031,000
		High Point Re Ltd.
	750,000	BlackRock Liquidity Funds Treasury Trust Fund Portfolio Fund Yield Index + 575.00 basis points, 1/6/2027^2,3,4		759,900
		Locke Tavern Re Ltd.
	1,425,000	3-Month U.S. Treasury Bill + 478.20 basis points, 4/9/2026^2,3		1,449,225
		Long Point Re IV Ltd.
	1,250,000	3-Month U.S. Treasury Bill + 425.00 basis points, 6/1/2026^2,3,4		1,261,875
		Mayflower Re Ltd.
	500,000	1-Month U.S. Treasury Bill + 450.00 basis points, 7/8/2027^2,3,4		509,200
	2,750,000	T-BILL + 350.00 basis points, 7/7/2028^2,3,4		2,763,200
		Merna Re Companywide Ltd.
	5,250,000	3-Month U.S. Treasury Bill + 700.00 basis points, 7/7/2028^2,3		5,395,425
		Merna Re Enterprise Ltd.
	5,500,000	3-Month U.S. Treasury Bill + 775.00 basis points, 7/7/2028^2,3		5,506,050
		Merna Reinsurance II Ltd.
	6,500,000	3-Month U.S. Treasury Bill + 775.00 basis points, 7/7/2026^2,3,6		6,615,050
	2,000,000	3-Month U.S. Treasury Bill + 850.00 basis points, 7/7/2027^2,3,4,6		2,006,000
	1,000,000	1-Month U.S. Treasury Bill + 775.00 basis points, 7/7/2028^2,3		1,000,600
	1,000,000	3-Month U.S. Treasury Bill + 875.00 basis points, 7/7/2028^2,3		1,001,600
		Residential Reinsurance 2004 Ltd.
	1,000,000	3-Month U.S. Treasury Bill + 538.00 basis points, 12/6/2028^2,3		1,023,000
		Residential Reinsurance 2022 Ltd.
	500,000	3-Month U.S. Treasury Bill + 759.00 basis points, 12/6/2029^2,3		517,800
		Residential Reinsurance 2023 Ltd.
	11,875,000	3-Month U.S. Treasury Bill + 597.00 basis points, 12/6/2027^2,3		12,395,125
		Residential Reinsurance 2025 Ltd.
	7,750,000	3-Month U.S. Treasury Bill + 575.00 basis points, 6/6/2029^2,3,4		7,827,500
		Sanders RE II Ltd.
	2,500,000	3-Month U.S. Treasury Bill + 400.00 basis points, 4/7/2028^2,3		2,526,500
	2,750,000	3-Month U.S. Treasury Bill + 450.00 basis points, 4/7/2028^2,3		2,762,100
	250,000	3-Month U.S. Treasury Bill + 700.00 basis points, 6/7/2028^2,3		249,000
	250,000	JPMorgan 100% US Treasury Securities Money Market Fund Yield Index + 400.00 basis points, 4/7/2029^2,3		247,225
	8,975,000	3-Month U.S. Treasury Bill + 425.00 basis points, 4/8/2030^2,3		9,243,352
	2,750,000	3-Month U.S. Treasury Bill + 475.00 basis points, 4/8/2030^2,3		2,811,050

The Ambassador Fund

SCHEDULE OF INVESTMENTS - Continued

As of July 31, 2025 (Unaudited)

Principal Amount¹			Value
		MULTI-PERIL (Continued)
		Sanders Re III Ltd.
	9,250,000	3-Month U.S. Treasury Bill + 814.00 basis points, 6/5/2026^2,3	$	9,443,325
	3,125,000	3-Month U.S. Treasury Bill + 627.00 basis points, 4/7/2027^2,3		3,224,063
		Topanga Re Ltd.
	3,000,000	3-Month U.S. Treasury Bill + 477.00 basis points, 1/8/2026^2,3		2,876,400
		Yosemite Re Ltd.
	1,500,000	3-Month U.S. Treasury Bill + 725.00 basis points, 6/7/2028^2,3,4		1,513,500
				119,926,446
		WINDSTORM — 27.3%
		1886 Re Ltd.
	5,500,000	3-Month U.S. Treasury Bill + 450.00 basis points, 7/9/2029^2,3,4		5,636,400
		3264 Re Ltd.
	1,000,000	3-Month U.S. Treasury Bill + 700.00 basis points, 7/8/2027^2,3,4		1,052,700
		Alamo Re Ltd.
	6,750,000	1-Month U.S. Treasury Bill + 654.00 basis points, 6/7/2027^2,3		7,003,800
		Bayou Re Ltd.
	6,250,000	1-Month U.S. Treasury Bill + 833.20 basis points, 4/30/2027^2,3,4		6,560,625
		Blue Ridge Re Ltd.
	6,500,000	3-Month U.S. Treasury Bill + 525.00 basis points, 1/8/2027^2,3,4		6,654,050
		Bluebonnet RE Ltd.
	5,750,000	1-Month U.S. Treasury Bill + 575.00 basis points, 6/7/2028^2,3		5,962,750
		Bonanza Re Ltd.
	1,500,000	3-Month U.S. Treasury Bill + 845.00 basis points, 1/8/2026^2,3		1,496,250
		Cape Lookout Re Ltd.
	11,050,000	1-Month U.S. Treasury Bill + 720.20 basis points, 4/28/2026^2,3		11,327,355
		Charles River Re Ltd.
	750,000	1-Month U.S. Treasury Bill + 763.20 basis points, 5/10/2027^2,3		775,200
		Chartwell RE Ltd.
	4,750,000	3-Month U.S. Treasury Bill + 600.00 basis points, 6/7/2028^2,3,4		4,859,725
		Citrus Re Ltd.
	3,750,000	3-Month U.S. Treasury Bill + 871.00 basis points, 6/7/2026^2,3,4		3,870,375
	3,250,000	3-Month U.S. Treasury Bill + 450.00 basis points, 6/7/2028^2,3,4		3,274,700
	1,250,000	3-Month U.S. Treasury Bill + 775.00 basis points, 6/7/2028^2,3,4		1,231,750
		Commonwealth Re Ltd.
	7,750,000	3-Month U.S. Treasury Bill + 385.70 basis points, 7/8/2026^2,3		7,810,450
		Everglades Re II Ltd.
	4,650,000	1-Month U.S. Treasury Bill + 1,050.00 basis points, 5/13/2027^2,3,4		4,881,105
	12,000,000	1-Month U.S. Treasury Bill + 875.00 basis points, 5/19/2028^2,3,4		12,121,200
		First Coast Re IV Ltd.
	1,000,000	3-Month U.S. Treasury Bill + 650.00 basis points, 3/10/2028^2,3,4		1,008,500
		Fish Pond Re Ltd.
	7,000,000	1-Month U.S. Treasury Bill + 402.00 basis points, 1/8/2027^2,3,4		7,125,300
		Gateway Re Ltd.
	500,000	3-Month U.S. Treasury Bill, 12/22/2025^2,3		460,450

The Ambassador Fund

SCHEDULE OF INVESTMENTS - Continued

As of July 31, 2025 (Unaudited)

Principal Amount¹			Value
		WINDSTORM (Continued)
	5,057,000	1-Month U.S. Treasury Bill + 950.00 basis points, 7/7/2027^2,3,4	$	5,048,909
	4,750,000	1-Month U.S. Treasury Bill + 590.00 basis points, 7/8/2027^2,3,4		4,800,350
	5,750,000	1-Month U.S. Treasury Bill + 425.00 basis points, 7/7/2028^2,3,4		5,663,175
	2,000,000	BlackRock Liquidity Funds Treasury Trust Fund Portfolio Fund Yield Index + 700.00 basis points, 7/7/2028^2,3,4		2,007,600
		Hestia Re Ltd.
	1,250,000	T-BILL + 675.00 basis points, 3/13/2028^2,3,4		1,232,000
		Integrity RE III Ltd.
	1,250,000	1-Month U.S. Treasury Bill + 800.00 basis points, 6/6/2027^2,3		1,250,875
	2,500,000	1-Month U.S. Treasury Bill + 800.00 basis points, 6/6/2028^2,3		2,507,750
		Lightning Re Series 2023-1
	13,975,000	3-Month U.S. Treasury Bill + 1,100.00 basis points, 3/31/2026^2,3,4		14,267,077
		Lower Ferry Re Ltd.
	250,000	1-Month U.S. Treasury Bill + 443.00 basis points, 7/8/2026^2,3,4		252,775
		Marlon Ltd.
	1,250,000	3-Month U.S. Treasury Bill + 700.00 basis points, 6/7/2027^2,3,4		1,306,000
		Nature Coast Re Ltd.
	4,150,000	3-Month U.S. Treasury Bill + 1,000.00 basis points, 12/7/2026^2,3,4		4,209,760
	750,000	3-Month U.S. Treasury Bill + 1,350.00 basis points, 12/7/2026^2,3,4		760,800
		Palm RE Ltd.
	2,000,000	1-Month U.S. Treasury Bill + 775.00 basis points, 6/7/2028^2,3,4		1,995,800
		Purple Re Ltd.
	750,000	1-Month U.S. Treasury Bill + 725.00 basis points, 6/7/2028^2,3,4		770,400
		Recoletos Re DAC
	8,300,000	3-Month U.S. Treasury Bill + 500.00 basis points, 1/7/2028^2,3,4		8,461,850
		Sabine Re Ltd.
	3,000,000	1-Month U.S. Treasury Bill + 825.00 basis points, 4/7/2027^2,3,4		3,097,500
		Solis RE Ltd.
	2,000,000	3-Month U.S. Treasury Bill + 350.00 basis points, 7/7/2028^2,3,4		2,004,600
				152,749,906
		TOTAL UNITED STATES
		(Cost $296,146,174)		298,868,832
		TOTAL EVENT LINKED BONDS
		(Cost $463,630,739)		468,251,348
		PREFERRED NOTES — 14.4%
		GLOBAL — 8.2%
		MULTI-PERIL — 8.2%
		Consulate Re 2025-10
	10,000,000	4.044%, 12/31/2025^7,8		9,630,000
		Consulate Re 2025-11
	10,000,000	4.044%, 12/31/2025^7,8		9,507,000
		Consulate Re 2025-15
	5,000,000	4.044%, 3/31/2026^7,8		4,315,000

The Ambassador Fund

SCHEDULE OF INVESTMENTS - Continued

As of July 31, 2025 (Unaudited)

Principal Amount¹			Value
		MULTI-PERIL (Continued)
		Consulate Re 2025-25
	5,000,000	2.600%, 7/29/2026^7,8	$	4,394,000
		Consulate Re 2025-2A
	5,000,000	4.044%, 12/31/2025^7,8		4,786,000
		Consulate Re 2025-3A
	5,000,000	4.044%, 12/31/2025^7,8		4,721,000
		Consulate Re 2025-9A
	10,000,002	4.044%, 12/31/2025^7,8		8,709,002
		TOTAL GLOBAL
		(Cost $46,061,509)		46,062,002
		UNITED STATES — 6.2%
		MULTI-PERIL — 2.4%
		Consulate Re 2025-12
	5,000,000	4.044%, 12/31/2025^7,8		4,576,000
		Consulate Re 2025-13
	5,000,000	4.044%, 12/31/2025^7,8		4,049,000
		Consulate Re 2025-24
	5,000,000	4.044%, 7/13/2026^7,8		4,579,000
				13,204,000
		WINDSTORM — 3.8%
		Consulate Re 2025-17
	2,500,000	4.044%, 12/15/2025^7,8		1,916,750
		Consulate Re 2025-19
	2,500,000	4.044%, 12/15/2025^7,8		2,003,250
		Consulate Re 2025-20
	5,000,000	4.044%, 12/15/2025^7,8		3,966,000
		Consulate Re 2025-21
	5,000,000	4.044%, 12/15/2025^7,8		4,229,500
		Consulate Re 2025-5A
	5,000,000	4.044%, 12/15/2025^7,8		4,673,000
		Consulate Re 2025-6A
	5,000,000	4.044%, 12/15/2025^7,8		4,502,500
				21,291,000
		TOTAL UNITED STATES
		(Cost $34,494,561)		34,495,000
		TOTAL PREFERRED NOTES
		(Cost $80,556,070)		80,557,002

The Ambassador Fund

SCHEDULE OF INVESTMENTS - Continued

As of July 31, 2025 (Unaudited)

Number of Shares			Value
		SHORT-TERM INVESTMENTS — 0.8%
	4,461,416	Fidelity Investments Money Market Government Portfolio - Class I 4.17%⁹	$	4,461,416
		TOTAL SHORT-TERM INVESTMENTS
		(Cost $4,461,416)		4,461,416
		TOTAL INVESTMENTS — 99.0%
		(Cost $548,648,225)		553,269,766
		Other Assets in Excess of Liabilities — 1.0%		5,849,961
		TOTAL NET ASSETS — 100.0%	$	559,119,727

US – United States

Local currency.

Floating rate security. Floating rate security. Reference rates as of July 31, 2025 are as follows: 1-Month U.S. Treasury Bill 4.49%, 3-Month U.S. Treasury Bill 4.41%, Secured Overnight Financing Rate (SOFR) 4.39%, and 3-Month Term SOFR 4.34%. Actual reference rates may vary based on the reset date of the security.

Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities are restricted and may be resold in transactions exempt from registration normally to qualified institutional buyers. The total value of these securities is $464,771,350, which represents 83.1% of total net assets of the Fund.

⁴

Callable.

⁵

Variable rate security. Rate shown is the rate in effect as of July 31, 2025.

⁶

All or a portion of this security is segregated as collateral for forward contracts. The market value of the securities pledged as collateral was $8,047,868, which represents 1.4% of total net assets of the Fund.

⁷

The value of these securities was determined using significant unobservable inputs. These are reported as Level 3 securities in the Fair Value Hierarchy.

⁸

Restricted securities, representing 14.4% of Total Net Assets. The total value of these securities is $80,557,002.

⁹

The rate is the annualized seven-day yield at period end.

The Ambassador Fund

SCHEDULE OF INVESTMENTS - Continued

As of July 31, 2025 (Unaudited)

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS

Sale Contracts	Counterparty	Currency Exchange	Settlement Date	Currency Amount Sold			Value At Settlement Date			Value At July 31, 2025			Unrealized Appreciation/ (Depreciation)
Canadian Dollar	UMB Bank NA	CAD per USD	9/4/2025		(3,250,000	)		(2,265,914	)		(2,349,631	)		(83,717	)
Euro	UMB Bank NA	EUR per USD	3/16/2026		(2,250,000	)		(2,492,177	)		(2,603,431	)		(111,254	)
Euro	UMB Bank NA	EUR per USD	4/20/2026		(2,450,000	)		(2,864,246	)		(2,840,931	)		23,315
Euro	UMB Bank NA	EUR per USD	5/26/2026		(2,500,000	)		(2,896,025	)		(2,905,322	)		(9,297	)
Euro	UMB Bank NA	EUR per USD	6/9/2026		(3,348,000	)		(3,881,336	)		(3,894,157	)		(12,821	)
Euro	UMB Bank NA	EUR per USD	7/14/2026		(2,000,000	)		(2,376,800	)		(2,331,277	)		45,523
TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS							$	(16,776,498	)	$	(16,924,749	)	$	(148,251	)

EUR – Euro

CAD – Canadian Dollar