# Penn Mutual AM Strategic Income Fund

Penn Mutual AM Strategic Income Fund is a registered fund series of ADVISORS' INNER CIRCLE III (series S000061933). Net assets $171.7M as of 2025-09-30.

## Profile

- Series ID: S000061933
- Registrant: ADVISORS' INNER CIRCLE III
- LEI: 549300J2WFCC4B4BPD96
- Net assets: $171.7M
- Total assets: $172.3M
- As of: 2025-09-30

## Advisers

- [Penn Mutual Asset Management (Advisor)](https://search.stillhousedata.com/firm/107518)

## Top holdings (91 reported)

_Showing 15 of 91 holdings by value._

| Holding | Ticker | Value | % of fund |
| --- | --- | --- | --- |
| [United States of America](https://search.stillhousedata.com/security/91282CGA3) | — | $9.0M | 524.17% |
| [United States of America](https://search.stillhousedata.com/security/91282CHB0) | — | $5.5M | 319.88% |
| [United States of America](https://search.stillhousedata.com/security/912797QY6) | — | $5.5M | 317.89% |
| [United States of America](https://search.stillhousedata.com/security/9128285J5) | — | $5.0M | 290.92% |
| [Freddie Mac](https://search.stillhousedata.com/security/3133C3JY3) | — | $3.8M | 223.29% |
| [FREMF MORTGAGE TRUST](https://search.stillhousedata.com/security/30305KAG9) | — | $3.8M | 222.93% |
| [Freddie Mac](https://search.stillhousedata.com/security/3133KY4H9) | — | $3.7M | 214.98% |
| [United States of America](https://search.stillhousedata.com/security/91282CKY6) | — | $3.5M | 205.06% |
| [PRKCM TRUST](https://search.stillhousedata.com/security/693984AB2) | — | $3.4M | 198.50% |
| [United States of America](https://search.stillhousedata.com/security/91282CLB5) | — | $3.0M | 175.56% |
| [Federal National Mortgage Association](https://search.stillhousedata.com/security/31418FE37) | — | $2.8M | 163.70% |
| [Federal National Mortgage Association](https://search.stillhousedata.com/security/31418ESQ4) | — | $2.8M | 160.63% |
| [United States of America](https://search.stillhousedata.com/security/912828M56) | — | $2.7M | 159.82% |
| [STATE STREET CORPORATION](https://search.stillhousedata.com/security/857477AX1) | — | $2.7M | 156.66% |
| [NAVIENT PRIVATE EDUCATION LOAN TRUST](https://search.stillhousedata.com/security/63941JAA6) | — | $2.7M | 155.54% |

## Net asset history

| Report date | Net assets |
| --- | --- |
| 2025-09-30 | $171.7M |
| 2025-06-30 | $169.4M |
| 2025-03-31 | $166.7M |
| 2024-12-31 | $163.7M |
| 2024-09-30 | $163.7M |
| 2024-06-30 | $124.6M |
| 2024-03-31 | $122.7M |
| 2023-12-31 | $120.4M |

## More

- [Registrant: ADVISORS' INNER CIRCLE III](https://search.stillhousedata.com/registrant/1593547)
- [This page as markdown (for LLM agents)](https://search.stillhousedata.com/fund/S000061933.md)
- [Search all SEC filings, advisers and people on Adviser Search](https://search.stillhousedata.com/)

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Source: public SEC filing data via Adviser Search (https://search.stillhousedata.com).
Agents: this data is also queryable via MCP tools and read-only SQL — see https://search.stillhousedata.com/llms.txt.