CC&L Absolute Return Bond Fund

Quarterly Portfolio Disclosures

As of June 30, 2025

Summary of Investment Portfolio

Category
Long %
Short %
% of Net
Asset Value
Bonds
180.23
-95.35
84.88
Currency Forward Contracts
22.14
-22.17
-0.03
Futures Contracts
33.10
-61.97
-28.88
Other Assets Less Liabilities
9.38
-5.48
3.91
Short Term Investments
13.42
0.00
13.42

Top 25 Holdings - Long

% of Net
Asset Value
Ontario
8.30
Us Treasury N/B
7.48
Ontario
7.07
Us Treasury N/B
6.70
Petsmart Inc/Petsmart Fi
4.83
Albertsons Cos/Safeway
4.13
Ford Credit Canada Co
3.74
Ncl Corporation Ltd
3.58
Avolon Holdings Fndg Ltd
3.32
Royal Bank Of Canada
3.15
Canada
2.99
Tenet Healthcare Corp
2.87
Inter Pipeline Ltd
2.85
SNC-Lavalin Group Inc.
2.80
Meg Energy Corp
2.80
Dream Summit Industrial
2.49
Avolon Holdings Fndg Ltd
2.30
Albertsons Cos/Safeway
2.24
Parkland Corp/Canada
2.22
Rogers Communications In
2.19
Videotron Ltd
2.09
Cogeco Communications
2.03
Lifepoint Health Inc
2.02
Toronto-Dominion Bank
1.94
Parkland Corp
1.89

Top 25 Holdings - Short

% of Net
Asset Value
Sirius Xm Radio Inc
-1.20
Canada
-1.34
Epcor Utilities
-1.35
Sirius Xm Radio Inc
-1.37
Allison Transmission Inc
-1.38
Sonic Automotive Inc
-1.41
Calgary Airport Authorit
-1.46
Allison Transmission Inc
-1.48
Loblaw Cos Ltd
-1.54
General Motors Co
-1.60
Asbury Automotive Group
-1.64
Sonic Automotive Inc
-1.84
Oi European Group Bv
-1.89
At&T Inc
-2.04
Snap Inc
-2.08
Us Foods Inc
-2.14
Davita Inc
-2.24
Encompass Health Corp
-2.35
Buy Protection on MARKIT CDX.NA.HY.44.5Y.V1 06/30
-2.56
Performance Food Group I
-2.58
Verizon Communications (Green Bond)
-2.60
Concentra Escrow Issuer
-3.05
Us Foods Inc
-5.29
Ontario
-7.80
Canada
-10.00

For further information, please contact Connor, Clark & Lunn Funds Inc. Toll Free at 1-888-824-3120.

The Summary of Investment Portfolio may change due to ongoing portfolio transactions of the Fund. Updates are available quarterly. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

CC&L Funds Inc.
January 2nd, 2025