Logic Pro X Project won't exceed -3.1db when Adaptive Limiter engaged. When bypassed, it will clip.

I noticed someone else had this question a couple of years ago and everyone thought he was crazy. Had someone send me a project, rather than stems for mixing. Everything was normal until I went to bump the levels for reference listening. Got the levels up to about -3 or -2.5db then put the limiter on and it started capping at -3.1db even with the Out Ceiling set to 0. Is there a project setting I'm missing that would do this? It only happens with the limiter on. And I've tried it with the Adaptive Limiter AND the limiter and I get the same thing.