CC&L Absolute Return Bond Fund

Quarterly Portfolio Disclosures

As of March 31, 2026

Summary of Investment Portfolio

Category
Long %
Short %
% of Net
Asset Value
Bonds
189.93
-66.79
123.14
Currency Forward Contracts
24.16
-24.81
-0.65
Futures Contracts
48.26
-119.55
-71.29
Other Assets Less Liabilities
9.87
-9.39
0.48
Short Term Investments
0.00
-31.08
-31.08

Top 25 Holdings - Long

% of Net
Asset Value
Canada
28.08
United States Treasury (TIPS) - RRUS
6.14
Ontario
5.65
Avolon Holdings Fndg Ltd
3.81
Granite Reit Holdings Lp
3.55
Us Treasury N/B
3.00
Dream Summit Industrial
2.94
Sunoco Lp
2.69
ARC RESOURCES LTD
2.64
Albertsons Cos/Safeway
2.58
Telus Corp
2.58
Ford Credit Canada Co
2.35
Inter Pipeline Ltd
2.16
Lifepoint Health Inc
2.07
Brookfield Renewable Par (Green Bond)
2.05
Wolf Midstream Canada Lp
1.96
Cogeco Communications
1.92
Caesars Entertain Inc
1.88
Ardagh Metal Packaging
1.77
Allied Properties Reit
1.68
Ford Credit Canada Co
1.67
SNC-Lavalin Group Inc.
1.67
Sunoco Lp
1.61
Arko Corp
1.56
Cogent Comms Grp / Fin
1.55

Top 25 Holdings - Short

% of Net
Asset Value
Nordstrom Inc
-0.97
American Airlines/Aadvan
-0.97
Ontario Power Generation (Green)
-1.02
Davita Inc
-1.04
Enbridge Gas Inc
-1.06
Verizon Communications
-1.06
Conagra Brands Inc
-1.09
T-Mobile Usa Inc
-1.17
Nordstrom Inc
-1.18
Calgary Airport Authorit
-1.24
Loblaw Cos Ltd
-1.31
Performance Food Group I
-1.37
407 International Inc
-1.40
Encompass Health Corp
-1.44
Adapthealth Llc
-1.55
Buy Protection on MARKIT CDX.NA.HY.45.5Y.V2 12/30
-1.63
Verizon Communications (Green Bond)
-1.65
Wolverine World Wide
-1.66
Sonic Automotive Inc
-1.78
Concentra Escrow Issuer
-1.87
Sirius Xm Radio Inc
-2.08
Dell Int Llc / Emc Corp
-2.55
Hydro One Inc
-3.48
Buy Protection on MARKIT CDX.NA.HY.46.5Y.V1 06/31
-6.25
Ontario
-11.50

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 2, 2025