Each N-PORT filing of PRIV compared with the one before: positions added and dropped, the largest weight changes, turnover. Computed by Mulden from the filings; dated by filing period and SEC receipt.https://themulden.com/enhttps://themulden.com/funds/priv/https://themulden.com/funds/priv/196 positions became 319: 153 added (60.38% of the fund), 30 dropped (11.01%). Turnover proxy 70.7%. Largest increases: United States Treasury 2% to 4.84%; United States Treasury 1.72% to 4.23%; United States Treasury 5.96% to 6.76%; State Street Global Advisors 3.11% to 3.86%; AUTONATION INC 0.09% to 0.72%; BAYER US FINANCE LLC 0.32% to 0.85%. Largest decreases: Freddie Mac 6.75% to 0.77%; United States Treasury 6.47% to 1.4%; Fannie Mae 3.7% to 0.43%; Freddie Mac 2.95% to 0.34%; Fannie Mae 2.67% to 0.29%; Freddie Mac 2.33% to 0.27%. New: Fannie Mae (2.85%), Freddie Mac (2.65%), Freddie Mac (2.64%), Fannie Mae (2.42%), Fannie Mae (2.25%), Fannie Mae (2.1%). Gone: Onslow Bay Financial LLC (3.55%), AP GRANGE HOLDINGS LLC (1.49%), GM Financial Automobile Leasing Trust (1.01%), APTIV SWISS HOLDINGS LTD (0.57%), MICRON TECHNOLOGY INC (0.5%), CAMPBELLS COMPANY/THE (0.37%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Thu, 25 Jun 2026 12:00:00 GMThttps://themulden.com/funds/priv/https://themulden.com/funds/priv/207 positions became 196: 33 added (15.36% of the fund), 44 dropped (27.07%). Turnover proxy 35.1%. Largest increases: United States Treasury 0.86% to 5.96%; Freddie Mac 4.11% to 6.75%; Onslow Bay Financial LLC 2.11% to 3.55%; Freddie Mac 1.54% to 2.95%; Fannie Mae 1.49% to 2.67%; Freddie Mac 0.96% to 1.81%. Largest decreases: United States Treasury 3.45% to 2%; Verus Securitization Trust 0.92% to 0.25%; MORGAN STANLEY PVT BANK 1.39% to 0.76%; United States Treasury 7.05% to 6.47%; BOEING CO/THE 1.43% to 0.92%; ABBVIE INC 0.74% to 0.36%. New: Fannie Mae (3.7%), AP CHIA ISSUER LLC (1.97%), AP FIDES HOLDING LLC (1.49%), Verus Securitization Trust (1.02%), GM Financial Automobile Leasing Trust (1.01%), Maritime Partners, LLC (1.01%). Gone: Freddie Mac (4.53%), Fannie Mae (2.42%), Fannie Mae (2.33%), AP CHIA (1.53%), Fannie Mae (1.3%), Fannie Mae (1.09%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Tue, 31 Mar 2026 12:00:00 GMThttps://themulden.com/funds/priv/https://themulden.com/funds/priv/154 positions became 207: 80 added (37.58% of the fund), 27 dropped (18.55%). Turnover proxy 42.7%. Largest increases: MORGAN STANLEY PVT BANK 0.39% to 1.39%; BOEING CO/THE 0.74% to 1.43%; SYNOPSYS INC 0.26% to 0.86%; State Street Global Advisors 2.28% to 2.86%; ARCELORMITTAL SA 0.22% to 0.74%; APTIV SWISS HOLDINGS LTD 0.25% to 0.53%. Largest decreases: Freddie Mac 3.77% to 0.96%; United States Treasury 8.62% to 7.05%; PFP III 1.34% to 0.25%; RR Ltd 1.38% to 0.52%; MF1 Multifamily Housing Mortgage Loan Trust 1.38% to 0.53%; Freddie Mac 3.21% to 2.45%. New: Freddie Mac (4.53%), Freddie Mac (4.11%), United States Treasury (3.45%), Fannie Mae (2.33%), Onslow Bay Financial LLC (2.11%), A&D Mortgage Trust (1.83%). Gone: Fannie Mae (3.01%), Freddie Mac (2.18%), AP GRANGE HOLDINGS (2.1%), Barclays Commercial Mortgage Securities LLC (2.06%), RR Ltd (1.39%), PK ALIFT LOAN FUNDING (0.93%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Mon, 22 Dec 2025 12:00:00 GMThttps://themulden.com/funds/priv/https://themulden.com/funds/priv/145 positions became 154: 22 added (28.79% of the fund), 13 dropped (2.63%). Turnover proxy 39.3%. Largest increases: AP FIDES HLDGS I TRCH A 1 0.43% to 1.4%; NETAPP INC 0.26% to 1.23%; PFP III 0.45% to 1.34%; JBS USA SARL/FOOD/GRP 0.38% to 1.14%; PK ALIFT LOAN FUNDING 0.37% to 1.09%; AGL ENERGY 0.94% to 1.45%. Largest decreases: Freddie Mac 8.75% to 3.21%; Fannie Mae 8.2% to 3.01%; United States Treasury 2.78% to 1.02%; United States Treasury 2.47% to 0.92%; Fannie Mae 2.91% to 1.42%; Fannie Mae 1.94% to 0.71%. New: United States Treasury (8.62%), Freddie Mac (3.77%), Fannie Mae (3.15%), Freddie Mac (2.18%), Barclays Commercial Mortgage Securities LLC (2.06%), Freddie Mac (2.03%). Gone: JBS USA HOLD/FOOD/LUX CO (0.37%), APPLE INC (0.37%), VERIZON COMMUNICATIONS (0.35%), ORACLE CORP (0.28%), MARS INC (0.28%), MARS INC (0.28%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Thu, 25 Sep 2025 12:00:00 GMT