Guggenheim Strategic Opportunities Fund  
SCHEDULE OF INVESTMENTS (Unaudited)   August 31, 2024

 

  Shares   Value
COMMON STOCKS† - 0.6%
Consumer, Non-cyclical - 0.2%
Endo, Inc.* 68,571   $   1,844,545  
Cengage Learning Holdings II, Inc.*,†† 11,126   193,036  
Kellanova1 266   21,442  
Universal Health Services, Inc. — Class B1 82   19,514  
Altria Group, Inc.1 346   18,604  
Moody's Corp.1 38   18,534  
Philip Morris International, Inc.1 150   18,494  
Equifax, Inc.1 60   18,428  
PayPal Holdings, Inc.*,1 253   18,325  
S&P Global, Inc.1 36   18,301  
UnitedHealth Group, Inc.1 31   18,296  
Tyson Foods, Inc. — Class A1 281   18,071  
Corpay, Inc.*,1 57   17,986  
McCormick & Company, Inc.1 223   17,847  
HCA Healthcare, Inc.1 45   17,802  
United Rentals, Inc.1 24   17,790  
Regeneron Pharmaceuticals, Inc.*,1 15   17,770  
Coca-Cola Co.1 245   17,755  
Intuitive Surgical, Inc.*,1 36   17,735  
Cintas Corp.1 22   17,713  
MarketAxess Holdings, Inc.1 73   17,695  
Kenvue, Inc.1 804   17,648  
ResMed, Inc.1 72   17,641  
Quest Diagnostics, Inc.1 111   17,424  
Teleflex, Inc.1 71   17,407  
Automatic Data Processing, Inc.1 63   17,382  
Campbell Soup Co.1 348   17,303  
Gilead Sciences, Inc.1 219   17,301  
AbbVie, Inc.1 88   17,275  
Colgate-Palmolive Co.1 162   17,253  
Revvity, Inc.1 139   17,033  
Amgen, Inc.1 51   17,025  
Clorox Co.1 107   16,939  
Bio-Rad Laboratories, Inc. — Class A*,1 50   16,866  
Labcorp Holdings, Inc.1 73   16,782  
General Mills, Inc.1 232   16,771  
Conagra Brands, Inc.1 537   16,754  
Viatris, Inc.1 1,381   16,683  
Hologic, Inc.*,1 205   16,654  
Waters Corp.*,1 48   16,625  
IQVIA Holdings, Inc.*,1 66   16,602  
Cooper Companies, Inc.*,1 157   16,600  
Johnson & Johnson1 100   16,586  
Bristol-Myers Squibb Co.1 331   16,534  
Catalent, Inc.*,1 271   16,520  
Corteva, Inc.1 288   16,502  
Centene Corp.*,1 209   16,475  
Keurig Dr Pepper, Inc.1 450   16,474  
DaVita, Inc.*,1 109   16,450  
Boston Scientific Corp.*,1 200   16,358  
Eli Lilly & Co.1 17   16,320  
Cigna Group1 45   16,281  
Incyte Corp.*,1 247   16,218  
Medtronic plc1 183   16,210  
Danaher Corp.1 60   16,159  
STERIS plc1 67   16,154  
Elevance Health, Inc.1 29   16,150  
Cardinal Health, Inc.1 143   16,119  
Kraft Heinz Co.1 454   16,085  
PepsiCo, Inc.1 93   16,078  
Pfizer, Inc.1 554   16,072  
Thermo Fisher Scientific, Inc.1 26   15,992  
Mondelez International, Inc. — Class A1 222   15,942  
Kimberly-Clark Corp.1 110   15,913  
Vertex Pharmaceuticals, Inc.*,1 32   15,869  
Rollins, Inc.1 316   15,857  
Sysco Corp.1 203   15,828  
Verisk Analytics, Inc. — Class A1 58   15,824  
Procter & Gamble Co.1 92   15,782  
Zoetis, Inc.1 86   15,780  
Global Payments, Inc.1 142   15,763  
Becton Dickinson & Co.1 65   15,757  
Molina Healthcare, Inc.*,1 45   15,741  
Agilent Technologies, Inc.1 110   15,721  
Solventum Corp.*,1 245   15,707  
Archer-Daniels-Midland Co.1 257   15,674  
Cencora, Inc. — Class A1 65   15,572  
Abbott Laboratories1 137   15,518  
Stryker Corp.1 43   15,498  
Hormel Foods Corp.1 475   15,461  
Henry Schein, Inc.*,1 219   15,450  
Hershey Co.1 80   15,445  
GE HealthCare Technologies, Inc.1 182   15,437  
Insulet Corp.*,1 76   15,410  
Quanta Services, Inc.1 56   15,407  
Baxter International, Inc.1 404   15,328  
Kroger Co.1 288   15,324  
Humana, Inc.1 43   15,242  
Zimmer Biomet Holdings, Inc.1 132   15,241  
J M Smucker Co.1 132   15,138  
Bunge Global S.A.1 149   15,106  
Avery Dennison Corp.1 68   15,086  
Molson Coors Beverage Co. — Class B1 275   14,842  
Bio-Techne Corp.1 199   14,724  
McKesson Corp.1 26   14,588  
Brown-Forman Corp. — Class B1 318   14,498  
Church & Dwight Company, Inc.1 142   14,467  
Constellation Brands, Inc. — Class A1 59   14,202  
Merck & Company, Inc.1 118   13,977  
IDEXX Laboratories, Inc.*,1 29   13,958  
West Pharmaceutical Services, Inc.1 44   13,800  
Save-A-Lot*,††† 1,871,199   13,753  
Monster Beverage Corp.*,1 290   13,668  
Biogen, Inc.*,1 66   13,514  
CVS Health Corp.1 230   13,165  
Align Technology, Inc.*,1 55   13,047  
 
 

 

Guggenheim Strategic Opportunities Fund  
SCHEDULE OF INVESTMENTS (Unaudited) continued   August 31, 2024

 

  Shares   Value
COMMON STOCKS† - 0.6% (continued)
Consumer, Non-cyclical - 0.2% (continued)
Charles River Laboratories International, Inc.*,1 65   $12,854  
Edwards Lifesciences Corp.*,1 170   11,893  
Estee Lauder Companies, Inc. — Class A1 119   10,907  
Lamb Weston Holdings, Inc.1 164   10,155  
Dexcom, Inc.*,1 123   8,529  
Moderna, Inc.*,1 109   8,437  
Total Consumer, Non-cyclical     3,795,187  
Financial - 0.1%
Checkers Holdings, Inc.*,††† 84,343   335,685  
Iron Mountain, Inc. REIT1 174   19,707  
Aflac, Inc.1 176   19,423  
CBRE Group, Inc. — Class A*,1 168   19,343  
Citizens Financial Group, Inc.1 444   19,114  
Ventas, Inc. REIT1 306   19,006  
Progressive Corp.1 75   18,915  
PNC Financial Services Group, Inc.1 101   18,694  
Truist Financial Corp.1 419   18,629  
Regions Financial Corp.1 795   18,619  
Kimco Realty Corp. REIT1 796   18,515  
KeyCorp1 1,083   18,476  
State Street Corp.1 212   18,465  
Nasdaq, Inc.1 256   18,453  
M&T Bank Corp.1 107   18,416  
Allstate Corp.1 97   18,327  
Public Storage REIT1 53   18,217  
BXP, Inc. REIT1 242   18,203  
Synchrony Financial1 362   18,194  
Fifth Third Bancorp1 425   18,143  
Cincinnati Financial Corp.1 132   18,088  
Berkshire Hathaway, Inc. — Class B*,1 38   18,085  
Bank of New York Mellon Corp.1 264   18,010  
Intercontinental Exchange, Inc.1 111   17,932  
Hartford Financial Services Group, Inc.1 154   17,879  
Brown & Brown, Inc.1 170   17,872  
Mid-America Apartment Communities, Inc. REIT1 110   17,861  
Regency Centers Corp. REIT1 245   17,809  
Camden Property Trust REIT1 142   17,778  
Realty Income Corp. REIT1 286   17,763  
JPMorgan Chase & Co.1 79   17,759  
Arch Capital Group Ltd.*,1 157   17,755  
Welltower, Inc. REIT1 147   17,740  
VICI Properties, Inc. REIT1 529   17,711  
Huntington Bancshares, Inc.1 1,182   17,695  
Cboe Global Markets, Inc.1 86   17,664  
U.S. Bancorp1 373   17,617  
American Express Co.1 68   17,588  
Blackstone, Inc. — Class A1 123   17,510  
Assurant, Inc.1 89   17,475  
Healthpeak Properties, Inc. REIT1 779   17,356  
Goldman Sachs Group, Inc.1 34   17,348  
Extra Space Storage, Inc. REIT1 98   17,346  
Discover Financial Services1 125   17,339  
Arthur J Gallagher & Co.1 59   17,262  
Equity Residential REIT1 230   17,222  
Aon plc — Class A1 50   17,186  
Invesco Ltd.1 1,005   17,175  
AvalonBay Communities, Inc. REIT1 76   17,156  
Federal Realty Investment Trust REIT1 149   17,135  
BlackRock, Inc. — Class A1 19   17,134  
Northern Trust Corp.1 186   16,965  
Willis Towers Watson plc1 58   16,942  
UDR, Inc. REIT1 380   16,914  
Simon Property Group, Inc. REIT1 101   16,902  
MetLife, Inc.1 218   16,891  
American Tower Corp. — Class A REIT1 75   16,805  
Chubb Ltd.1 59   16,767  
W R Berkley Corp.1 280   16,716  
Loews Corp.1 204   16,716  
Marsh & McLennan Companies, Inc.1 73   16,608  
Essex Property Trust, Inc. REIT1 55   16,598  
Morgan Stanley1 160   16,578  
SBA Communications Corp. REIT1 73   16,546  
Everest Group Ltd.1 42   16,474  
Capital One Financial Corp.1 112   16,456  
Travelers Companies, Inc.1 72   16,421  
Prudential Financial, Inc.1 135   16,357  
Crown Castle, Inc. REIT1 145   16,243  
Ameriprise Financial, Inc.1 36   16,180  
Citigroup, Inc.1 258   16,161  
Prologis, Inc. REIT1 125   15,978  
CME Group, Inc. — Class A1 74   15,965  
Mastercard, Inc. — Class A1 33   15,950  
Bank of America Corp.1 390   15,892  
Principal Financial Group, Inc.1 195   15,877  
American International Group, Inc.1 206   15,872  
Invitation Homes, Inc. REIT1 429   15,804  
Wells Fargo & Co.1 265   15,495  
Visa, Inc. — Class A1 56   15,477  
Raymond James Financial, Inc.1 129   15,425  
Digital Realty Trust, Inc. REIT1 101   15,313  
Alexandria Real Estate Equities, Inc. REIT1 126   15,066  
Equinix, Inc. REIT1 18   15,019  
CoStar Group, Inc.*,1 192   14,842  
Weyerhaeuser Co. REIT1 485   14,788  
Host Hotels & Resorts, Inc. REIT1 796   14,089  
T. Rowe Price Group, Inc.1 130   13,785  
Charles Schwab Corp.1 209   13,606  
Globe Life, Inc.1 121   12,711  
Franklin Resources, Inc.1 628   12,711  
KKR & Company, Inc. — Class A1 78   9,654  
Avison Young (Canada), Inc.*,†† 579   348  
 
 

 

Guggenheim Strategic Opportunities Fund  
SCHEDULE OF INVESTMENTS (Unaudited) continued   August 31, 2024

 

 

  Shares   Value
COMMON STOCKS† - 0.6% (continued)
Financial - 0.1% (continued)
Endo Luxembourg Finance Co I SARL / Endo US, Inc.†††,2 3,345,000   $ 335  
Endo Luxembourg Finance Co I SARL / Endo US, Inc.†††,2 1,900,000   190  
Pershing Square Tontine Holdings, Ltd. — Class A*,†††,3 1,042,740   104  
Endo Luxembourg Finance Co I SARL / Endo US, Inc.*,††† 181,000   18  
Sparta Systems*,††† 1,922       –  
Total Financial     1,878,348  
Industrial - 0.1%
Carrier Global Corp.1 4,174   303,784  
BP Holdco LLC*,†††,4 121,041   146,719  
Schur Flexibles GesmbH*,†† 660   94,970  
YAK BLOCKER 2 LLC*,††† 34,136   67,821  
YAK BLOCKER 2 LLC*,††† 31,551   62,685  
3M Co.1 152   20,473  
Mohawk Industries, Inc.*,1 131   20,323  
CH Robinson Worldwide, Inc.1 183   18,942  
Howmet Aerospace, Inc.1 194   18,752  
Lockheed Martin Corp.1 33   18,747  
FedEx Corp.1 62   18,524  
Northrop Grumman Corp.1 35   18,312  
Axon Enterprise, Inc.*,1 50   18,248  
RTX Corp.1 147   18,131  
GE Vernova, Inc.*,1 90   18,090  
Stanley Black & Decker, Inc.1 175   17,913  
Generac Holdings, Inc.*,1 113   17,688  
Garmin Ltd.1 96   17,596  
Amcor plc1 1,538   17,595  
Parker-Hannifin Corp.1 29   17,406  
Packaging Corporation of America1 83   17,392  
Allegion plc1 124   17,216  
General Electric Co.1 98   17,113  
Veralto Corp.1 152   17,089  
Pentair plc1 192   17,029  
Republic Services, Inc. — Class A1 81   16,865  
Masco Corp.1 210   16,708  
Norfolk Southern Corp.1 65   16,650  
Union Pacific Corp.1 65   16,646  
Trane Technologies plc1 46   16,636  
L3Harris Technologies, Inc.1 70   16,567  
TransDigm Group, Inc.1 12   16,478  
Huntington Ingalls Industries, Inc.1 58   16,401  
Caterpillar, Inc.1 46   16,381  
Keysight Technologies, Inc.*,1 106   16,337  
Westinghouse Air Brake Technologies Corp.1 96   16,279  
Nordson Corp.1 63   16,163  
Jacobs Solutions, Inc.1 107   16,144  
Johnson Controls International plc1 221   16,100  
Teledyne Technologies, Inc.*,1 37   16,014  
Dover Corp.1 86   15,998  
Hubbell, Inc.1 40   15,997  
TE Connectivity Ltd.1 104   15,974  
Mettler-Toledo International, Inc.*,1 11   15,830  
Deere & Co.1 41   15,815  
Waste Management, Inc.1 74   15,691  
Textron, Inc.1 172   15,686  
Builders FirstSource, Inc.*,1 90   15,660  
Old Dominion Freight Line, Inc.1 81   15,617  
Snap-on, Inc.1 55   15,606  
General Dynamics Corp.1 52   15,567  
Illinois Tool Works, Inc.1 61   15,444  
Expeditors International of Washington, Inc.1 124   15,303  
Ingersoll Rand, Inc.1 167   15,272  
Xylem, Inc.1 111   15,266  
Rockwell Automation, Inc.1 56   15,234  
Honeywell International, Inc.1 73   15,177  
A O Smith Corp.1 181   15,153  
Amphenol Corp. — Class A1 224   15,109  
J.B. Hunt Transport Services, Inc.1 87   15,068  
AMETEK, Inc.1 88   15,052  
CSX Corp.1 439   15,045  
Trimble, Inc.*,1 261   14,796  
Otis Worldwide Corp.1 156   14,772  
Emerson Electric Co.1 140   14,755  
Ball Corp.1 231   14,740  
Eaton Corporation plc1 48   14,733  
IDEX Corp.1 71   14,660  
Smurfit WestRock plc1 308   14,605  
Fortive Corp.1 195   14,508  
Vulcan Materials Co.1 59   14,467  
Boeing Co.*,1 82   14,247  
Martin Marietta Materials, Inc.1 26   13,888  
United Parcel Service, Inc. — Class B1 106   13,626  
Jabil, Inc.1 115   12,567  
Vector Phoenix Holdings, LP*,††† 121,040   2,561  
Targus,  Inc.*,††† 45,049   1,913  
Targus,  Inc.*,††† 45,049   256  
Targus,  Inc.*,††† 45,049   5  
Total Industrial     1,816,590  
Consumer, Cyclical - 0.1%
Exide Technologies*,††† 342   341,710  
ATD New Holdings, Inc.*,†† 23,593   240,649  
DR Horton, Inc.1 103   19,442  
Tesla, Inc.*,1 86   18,414  
NVR, Inc.*,1 2   18,345  
Cummins, Inc.1 57   17,832  
Walmart, Inc.1 229   17,686  
Best Buy Company, Inc.1 176   17,670  
PulteGroup, Inc.1 134   17,641  
Lennar Corp. — Class A1 95   17,296  
CarMax, Inc.*,1 203   17,164  
Starbucks Corp.1 180   17,023  
Hasbro, Inc.1 249   16,972  
Royal Caribbean Cruises Ltd.1 103   16,956  
O'Reilly Automotive, Inc.*,1 15   16,949  
TJX Companies, Inc.1 141   16,535  
Lowe's Companies, Inc.1 66   16,401  
General Motors Co.1 327   16,278  
 
 

Guggenheim Strategic Opportunities Fund  
SCHEDULE OF INVESTMENTS (Unaudited) continued   August 31, 2024

 

  Shares   Value
COMMON STOCKS† - 0.6% (continued)
Consumer, Cyclical - 0.1% (continued)
McDonald's Corp.1 56   $16,165  
Costco Wholesale Corp.1 18   16,063  
BorgWarner, Inc.1 471   16,047  
Hilton Worldwide Holdings, Inc.1 73   16,034  
Live Nation Entertainment, Inc.*,1 163   15,920  
AutoZone, Inc.*,1 5   15,907  
Carnival Corp.*,1 962   15,873  
WW Grainger, Inc.1 16   15,759  
Ross Stores, Inc.1 104   15,663  
Home Depot, Inc.1 42   15,477  
Target Corp.1 100   15,362  
Fastenal Co.1 223   15,226  
Genuine Parts Co.1 106   15,186  
Darden Restaurants, Inc.1 96   15,182  
Norwegian Cruise Line Holdings Ltd.*,1 847   15,153  
Copart, Inc.*,1 281   14,882  
Yum! Brands, Inc.1 110   14,841  
Caesars Entertainment, Inc.*,1 394   14,830  
Aptiv plc*,1 206   14,735  
Tractor Supply Co.1 55   14,715  
Ralph Lauren Corp. — Class A1 85   14,557  
Marriott International, Inc. — Class A1 62   14,551  
Pool Corp.1 41   14,416  
Deckers Outdoor Corp.*,1 15   14,389  
Southwest Airlines Co.1 495   14,315  
Ford Motor Co.1 1,274   14,256  
LKQ Corp.1 341   14,182  
Tapestry, Inc.1 345   14,135  
Chipotle Mexican Grill, Inc. — Class A*,1 250   14,020  
MGM Resorts International*,1 370   13,908  
United Airlines Holdings, Inc.*,1 308   13,564  
Delta Air Lines, Inc.1 314   13,342  
PACCAR, Inc.1 138   13,273  
NIKE, Inc. — Class B1 158   13,165  
American Airlines Group, Inc.*,1 1,209   12,840  
Las Vegas Sands Corp.1 326   12,711  
Wynn Resorts Ltd.1 162   12,454  
Domino's Pizza, Inc.1 29   12,012  
Ulta Beauty, Inc.*,1 34   11,997  
Lululemon Athletica, Inc.*,1 42   10,898  
Bath & Body Works, Inc.1 346   10,643  
Dollar Tree, Inc.*,1 125   10,561  
Dollar General Corp.1 110   9,127  
Walgreens Boots Alliance, Inc.1 863   7,983  
Total Consumer, Cyclical     1,477,282  
Technology - 0.1%
Fair Isaac Corp.*,1 12   19,052  
Tyler Technologies, Inc.*,1 32   18,812  
ServiceNow, Inc.*,1 21   17,955  
Fortinet, Inc.*,1 233   17,873  
Monolithic Power Systems, Inc.1 19   17,759  
Fiserv, Inc.*,1 101   17,635  
Zebra Technologies Corp. — Class A*,1 51   17,615  
MSCI, Inc. — Class A1 30   17,418  
International Business Machines Corp.1 85   17,181  
Cognizant Technology Solutions Corp. — Class A1 219   17,032  
Electronic Arts, Inc.1 112   17,004  
Leidos Holdings, Inc.1 107   16,960  
Texas Instruments, Inc.1 79   16,933  
Gartner, Inc.*,1 34   16,727  
Autodesk, Inc.*,1 64   16,538  
Fidelity National Information Services, Inc.1 200   16,490  
Apple, Inc.1 72   16,488  
Paychex, Inc.1 125   16,400  
Broadridge Financial Solutions, Inc.1 76   16,177  
Adobe, Inc.*,1 28   16,083  
Accenture plc — Class A1 47   16,072  
Akamai Technologies, Inc.*,1 156   15,887  
ON Semiconductor Corp.*,1 203   15,808  
Skyworks Solutions, Inc.1 144   15,781  
Intuit, Inc.1 25   15,756  
Jack Henry & Associates, Inc.1 91   15,746  
Oracle Corp.1 111   15,683  
Paycom Software, Inc.1 96   15,627  
HP, Inc.1 431   15,594  
KLA Corp.1 19   15,569  
Take-Two Interactive Software, Inc.*,1 96   15,524  
Roper Technologies, Inc.1 28   15,523  
Analog Devices, Inc.1 66   15,499  
Qorvo, Inc.*,1 133   15,413  
Dayforce, Inc.*,1 268   15,322  
PTC, Inc.*,1 85   15,223  
ANSYS, Inc.*,1 46   14,785  
Salesforce, Inc.1 58   14,668  
Broadcom, Inc.1 90   14,654  
Seagate Technology Holdings plc1 147   14,634  
NXP Semiconductor N.V.1 57   14,613  
NetApp, Inc.1 121   14,607  
Microsoft Corp.1 35   14,600  
Teradyne, Inc.1 106   14,493  
EPAM Systems, Inc.*,1 69   13,852  
NVIDIA Corp.1 116   13,847  
Microchip Technology, Inc.1 168   13,803  
Hewlett Packard Enterprise Co.1 709   13,733  
Synopsys, Inc.*,1 26   13,509  
Cadence Design Systems, Inc.*,1 49   13,178  
Western Digital Corp.*,1 196   12,856  
Applied Materials, Inc.1 65   12,822  
Advanced Micro Devices, Inc.*,1 86   12,776  
QUALCOMM, Inc.1 71   12,446  
Lam Research Corp.1 15   12,315  
Micron Technology, Inc.1 108   10,394  
Intel Corp.*,1 431   9,499  
Super Micro Computer, Inc.*,1 16   7,003  
 
 

 

Guggenheim Strategic Opportunities Fund  
SCHEDULE OF INVESTMENTS (Unaudited) continued   August 31, 2024

 

  Shares   Value
COMMON STOCKS† - 0.6% (continued)
Technology - 0.1% (continued)
Crowdstrike Holdings, Inc. — Class A*,1 22   $ 6,100  
Total Technology     889,346  
Communications - 0.0%
Figs, Inc. — Class A*,1 10,450   64,477  
Vacasa, Inc. — Class A* 9,841   32,967  
Charter Communications, Inc. — Class A*,1 54   18,767  
Motorola Solutions, Inc.1 41   18,123  
Palo Alto Networks, Inc.*,1 48   17,411  
eBay, Inc.1 294   17,375  
Match Group, Inc.*,1 466   17,340  
T-Mobile US, Inc.1 87   17,289  
AT&T, Inc.1 868   17,273  
F5, Inc.*,1 85   17,268  
Corning, Inc.1 411   17,200  
Omnicom Group, Inc.1 169   16,973  
Gen Digital, Inc.1 628   16,617  
Arista Networks, Inc.*,1 47   16,609  
Juniper Networks, Inc.1 419   16,291  
Expedia Group, Inc.*,1 117   16,274  
Cisco Systems, Inc.1 321   16,223  
Interpublic Group of Companies, Inc.1 496   16,174  
Netflix, Inc.*,1 23   16,131  
Verizon Communications, Inc.1 383   16,002  
Meta Platforms, Inc. — Class A1 30   15,639  
Booking Holdings, Inc.1 4   15,637  
Warner Bros Discovery, Inc.*,1 1,940   15,210  
Comcast Corp. — Class A1 384   15,195  
Paramount Global — Class B1 1,447   15,150  
Uber Technologies, Inc.*,1 207   15,138  
VeriSign, Inc.*,1 82   15,080  
Amazon.com, Inc.*,1 83   14,815  
FactSet Research Systems, Inc.1 35   14,799  
CDW Corp.1 65   14,667  
Walt Disney Co.1 145   13,105  
Etsy, Inc.*,1 237   13,056  
Fox Corp. — Class A1 301   12,452  
News Corp. — Class A1 432   12,239  
Airbnb, Inc. — Class A*,1 99   11,614  
GoDaddy, Inc. — Class A*,1 62   10,379  
Alphabet, Inc. — Class A1 47   7,679  
Fox Corp. — Class B1 172   6,610  
Alphabet, Inc. — Class C1 39   6,439  
News Corp. — Class B1 130   3,826  
Total Communications     651,513  
Utilities - 0.0%
Edison International1 209   18,189  
NiSource, Inc.1 544   17,985  
Alliant Energy Corp.1 306   17,831  
WEC Energy Group, Inc.1 190   17,676  
Pinnacle West Capital Corp.1 200   17,504  
Ameren Corp.1 212   17,492  
Xcel Energy, Inc.1 285   17,450  
American Electric Power Company, Inc.1 174   17,449  
PPL Corp.1 545   17,391  
FirstEnergy Corp.1 395   17,348  
Eversource Energy1 256   17,288  
Entergy Corp.1 143   17,259  
CMS Energy Corp.1 253   17,168  
Evergy, Inc.1 290   17,151  
Atmos Energy Corp.1 131   17,127  
Duke Energy Corp.1 150   17,092  
Consolidated Edison, Inc.1 168   17,062  
Public Service Enterprise Group, Inc.1 211   17,038  
Dominion Energy, Inc.1 304   16,994  
NextEra Energy, Inc.1 210   16,907  
American Water Works Company, Inc.1 118   16,888  
DTE Energy Co.1 135   16,878  
Southern Co.1 195   16,848  
Sempra1 202   16,600  
NRG Energy, Inc.1 195   16,577  
PG&E Corp.1 839   16,528  
Exelon Corp.1 420   15,998  
Vistra Corp.1 175   14,950  
Constellation Energy Corp.1 71   13,966  
AES Corp.1 792   13,567  
CenterPoint Energy, Inc.1 496   13,541  
Total Utilities     519,742  
Energy - 0.0%
Targa Resources Corp.1 129   18,950  
ONEOK, Inc.1 195   18,010  
Baker Hughes Co.1 492   17,303  
Williams Companies, Inc.1 372   17,026  
Kinder Morgan, Inc.1 782   16,868  
EOG Resources, Inc.1 128   16,489  
Exxon Mobil Corp.1 139   16,394  
Marathon Oil Corp.1 561   16,073  
Diamondback Energy, Inc.1 82   15,999  
ConocoPhillips1 137   15,589  
Marathon Petroleum Corp.1 87   15,410  
Phillips 661 107   15,013  
APA Corp.1 523   14,900  
Devon Energy Corp.1 331   14,822  
Valero Energy Corp.1 101   14,820  
Chevron Corp.1 100   14,795  
Hess Corp.1 106   14,634  
Schlumberger N.V.1 330   14,517  
Enphase Energy, Inc.*,1 119   14,404  
Occidental Petroleum Corp.1 252   14,359  
Coterra Energy, Inc. — Class A1 571   13,892  
Halliburton Co.1 442   13,742  
Equities Corp.1 389   13,035  
First Solar, Inc.*,1 56   12,733  
Legacy Reserves, Inc.††† 2,359   9,436  
Permian Production Partners LLC*,††† 184,043   6,976  
Total Energy     386,189  
Basic Materials - 0.0%
Newmont Corp.1 375   20,021  
Sherwin-Williams Co.1 48   17,730  
FMC Corp.1 262   16,920  
International Flavors & Fragrances, Inc.1 162   16,846  
International Paper Co.1 341   16,511  
Linde plc1 34   16,260  
Ecolab, Inc.1 64   16,204  
CF Industries Holdings, Inc.1 195   16,203  
DuPont de Nemours, Inc.1 192   16,176  
Eastman Chemical Co.1 154   15,765  
 
 

 

Guggenheim Strategic Opportunities Fund  
SCHEDULE OF INVESTMENTS (Unaudited) continued   August 31, 2024

  Shares   Value
COMMON STOCKS† - 0.6% (continued)
Basic Materials- 0.0% (continued)
LyondellBasell Industries N.V. — Class A1 159   $15,693  
Air Products and Chemicals, Inc.1 56   15,616  
Mosaic Co.1 525   14,999  
PPG Industries, Inc.1 114   14,789  
Dow, Inc.1 272   14,574  
Steel Dynamics, Inc.1 121   14,461  
Freeport-McMoRan, Inc.1 318   14,081  
Nucor Corp.1 91   13,824  
Celanese Corp. — Class A1 104   13,582  
Albemarle Corp.1 139   12,545  
Total Basic Materials     312,800  
Electric - 0.0%
Mountain Creek Power LLC*,††† 68,676   6,868  
Total Common Stocks    
(Cost $15,011,195)     11,733,865  
PREFERRED STOCKS†† - 5.8%
Financial - 5.0%
Citigroup, Inc.
7.38%5 4,300,000   4,502,852  
3.88%5 4,000,000   3,843,679  
4.15%1,5 2,000,000   1,889,377  
4.00%5 1,750,000   1,701,306  
Bank of America Corp.
4.38%1 275,000   5,566,000  
4.38%5 2,650,000   2,553,907  
6.50%5 2,000,000   1,998,727  
6.30%5 1,000,000   1,009,114  
4.13%1 26,000   498,420  
Wells Fargo & Co.
4.75%1 183,750   3,829,350  
3.90%5 3,300,000   3,209,425  
4.70%1 148,000   3,112,440  
4.38%1 50,000   996,000  
Goldman Sachs Group, Inc.
7.50%5 7,700,000   8,078,001  
Equitable Holdings, Inc.
4.95%5 3,650,000   3,593,504  
4.30%1 82,000   1,623,600  
Kuvare US Holdings, Inc.
7.00% due 02/17/515,6 5,190,000   5,202,975  
Markel Group, Inc.
6.00%1,5 4,770,000   4,753,033  
Jackson Financial, Inc.
8.00%1,5 152,000   4,012,800  
Lincoln National Corp.
9.25%5 3,600,000   3,929,400  
Public Storage
4.63%1 144,400   3,123,372  
4.13%1 16,400   315,864  
W R Berkley Corp.
4.13% due 03/30/61 126,000   2,412,900  
4.25% due 09/30/60 36,800   739,680  
Charles Schwab Corp.
4.00%5 3,150,000   2,741,548  
JPMorgan Chase & Co.
4.55%1 49,000   1,054,970  
4.20%1 40,000   811,200  
4.63%1 24,000   531,120  
PartnerRe Ltd.
4.88% 128,000   2,316,800  
American Financial Group, Inc.
4.50% due 09/15/60 100,000   2,037,000  
MetLife, Inc.
3.85%5 1,820,000   1,780,443  
CNO Financial Group, Inc.
5.13% due 11/25/60 80,000   1,721,600  
Assurant, Inc.
5.25% due 01/15/61 58,000   1,273,100  
American National Group, Inc.
5.95%5 46,000   1,130,220  
Arch Capital Group Ltd.
4.55%1 38,000   767,220  
Selective Insurance Group, Inc.
4.60%1 36,000   665,280  
RenaissanceRe Holdings Ltd.
4.20% 13,000   236,080  
Globe Life, Inc.
4.25% due 06/15/61 11,000   187,440  
Avison Young (Canada), Inc.* 815,493   163,099  
First Republic Bank
4.50%*,††† 200,000   400  
4.25%*,††† 158,000   316  
4.13%*,††† 84,800   34  
Total Financial     89,913,596  
Communications - 0.6%
AT&T Mobility II LLC
6.80%*,††† 10,000   10,172,000  
Government - 0.1%
Farmer Mac
5.75%1 102,628   2,471,282  
Consumer, Cyclical - 0.1%
Exide Technologies*,††† 761   1,017,048  
Total Preferred Stocks    
(Cost $122,117,363)     103,573,926  
WARRANTS† - 0.0%
Ginkgo Bioworks Holdings, Inc.      
Expiring 09/16/26* 26,852   271  
Pershing Square SPARC Holdings, Ltd.      
Expiring 12/31/49*,†††,3 318,615   32  
Pershing Square Tontine Holdings, Ltd.      
Expiring 07/24/25*,†††,3 115,860   12  
Total Warrants    
(Cost $62,178)     315  
EXCHANGE-TRADED FUNDS†,*** - 0.3%
SPDR S&P 500 ETF Trust1 4,320   2,435,098  
iShares Russell 2000 Index ETF1 5,703   1,255,116  
Invesco QQQ Trust Series1 2,632   1,253,543  
Total Exchange-Traded Funds    
(Cost $3,451,686)     4,943,757  
CLOSED-END MUTUAL FUNDS†,*** - 1.2%
Guggenheim Active Allocation Fund4 950,000   15,174,350  
Blackstone Strategic Credit Fund 186,741   2,272,638  
BlackRock Credit Allocation Income Trust 184,289   2,029,022  
Eaton Vance Limited Duration Income Fund 141,764   1,450,246  
 
 

 

Guggenheim Strategic Opportunities Fund  
SCHEDULE OF INVESTMENTS (Unaudited) continued   August 31, 2024

 

  Shares   Value
CLOSED-END MUTUAL FUNDS† - 1.2% (continued)
Western Asset High Income Opportunity Fund, Inc. 160,170   $637,476  
Total Closed-End Mutual Funds    
(Cost $19,897,158)     21,563,732  
MONEY MARKET FUNDS†,*** - 2.6%
Dreyfus Treasury Securities Cash Management Fund — Institutional Shares, 5.14%7 44,413,886     44,413,886  
Dreyfus Treasury Obligations Cash Management Fund — Institutional Shares, 5.16%7 2,051,105     2,051,105  
Total Money Market Funds    
(Cost $46,464,991)     46,464,991  
  Face
Amount~		  
CORPORATE BONDS†† - 44.0%
Financial -  12.5%      
Morgan Stanley Finance LLC      
0.50% due 10/23/29◊,†††,8   13,500,000    11,317,050
Dyal Capital Partners III      
4.40% due 06/15/40†††   10,000,000    9,267,371
Encore Capital Group, Inc.      
8.50% due 05/15/301,6   6,100,000    6,383,183
9.25% due 04/01/296   2,300,000    2,448,352
Jane Street Group / JSG Finance, Inc.      
7.13% due 04/30/311,6   5,200,000    5,461,248
4.50% due 11/15/291,6   3,500,000    3,340,551
United Wholesale Mortgage LLC      
5.50% due 11/15/251,6   4,060,000    4,048,628
5.50% due 04/15/291,6   1,925,000    1,877,370
5.75% due 06/15/271,6   1,400,000    1,394,694
Jefferies Finance LLC / JFIN Company-Issuer Corp.      
5.00% due 08/15/281,6   7,500,000    7,127,009
Accident Fund Insurance Company of America      
8.50% due 08/01/321,6   7,000,000    7,042,980
Wilton RE Ltd.      
6.00% †††,5,6,9   7,800,000    7,041,054
Hunt Companies, Inc.      
5.25% due 04/15/291,6   7,325,000    6,904,674
MidCap Funding XLVI Trust      
8.84% (1 Month Term SOFR + 3.50%, Rate Floor: 3.50%) due 04/15/27◊,†††   6,440,000    6,440,000
Iron Mountain, Inc.      
5.63% due 07/15/321,6   6,500,000    6,404,640
Jones Deslauriers Insurance Management, Inc.      
10.50% due 12/15/306   3,650,000    3,967,083
8.50% due 03/15/306   2,050,000    2,179,275
Corebridge Financial, Inc.      
6.88% due 12/15/525   5,840,000    5,966,050
Maple Grove Funding Trust I      
4.16% due 08/15/511,6   8,000,000    5,672,822
OneMain Finance Corp.      
4.00% due 09/15/301   2,200,000    1,947,105
7.13% due 03/15/26   1,100,000    1,120,826
7.88% due 03/15/301   750,000    784,409
3.88% due 09/15/28   800,000    736,709
6.63% due 01/15/28   450,000    458,667
9.00% due 01/15/29   400,000    424,994
Kennedy-Wilson, Inc.      
5.00% due 03/01/311   3,750,000    3,262,060
4.75% due 02/01/30   1,450,000    1,279,532
4.75% due 03/01/291   425,000    383,630
Cushman & Wakefield US Borrower LLC      
6.75% due 05/15/281,6   4,800,000    4,869,041
Liberty Mutual Group, Inc.      
4.30% due 02/01/616   7,300,000    4,779,755
AmFam Holdings, Inc.      
3.83% due 03/11/511,6   7,200,000    4,441,841
LPL Holdings, Inc.      
4.00% due 03/15/291,6   4,172,000    3,969,147
4.38% due 05/15/311,6   476,000    444,414
National Life Insurance Co.      
10.50% due 09/15/396   3,400,000    4,411,874
Rocket Mortgage LLC / Rocket Mortgage Company-Issuer, Inc.      
4.00% due 10/15/331,6   4,031,000    3,552,565
3.88% due 03/01/311,6   825,000    752,500
PHM Group Holding Oy      
4.75% due 06/18/266 EUR  3,900,000    4,236,195
Global Atlantic Finance Co.      
4.70% due 10/15/511,5,6   2,900,000    2,725,016
3.13% due 06/15/311,6   1,750,000    1,495,611
RXR Realty LLC      
6.75% due 07/17/25†††   4,200,000    4,158,905
GLP Capital Limited Partnership / GLP Financing II, Inc.      
3.25% due 01/15/321   3,250,000    2,836,773
5.30% due 01/15/291   1,050,000    1,058,621
Hampton Roads PPV LLC      
6.62% due 06/15/53†††,6   4,495,000    3,820,219
UBS AG/Stamford CT      
7.95% due 01/09/251   3,600,000    3,629,017
NatWest Group plc      
7.47% due 11/10/261,5   3,500,000    3,594,108
PennyMac Financial Services, Inc.      
7.13% due 11/15/301,6   2,650,000    2,691,867
7.88% due 12/15/296   850,000    901,984
Sherwood Financing plc      
6.00% due 11/15/266 GBP  2,000,000    2,380,480
4.50% due 11/15/266 EUR  1,000,000    1,025,315
Host Hotels & Resorts, LP      
3.50% due 09/15/301   3,610,000    3,300,227
Standard Chartered plc      
7.78% due 11/16/251,5,6   3,100,000    3,114,327
Toronto-Dominion Bank      
8.13% due 10/31/821,5   2,850,000    3,036,667
Ares Finance Company IV LLC      
3.65% due 02/01/521,6   4,100,000    3,001,164
Americo Life, Inc.      
3.45% due 04/15/311,6   3,511,000    2,928,633
 
 

 

Guggenheim Strategic Opportunities Fund  
SCHEDULE OF INVESTMENTS (Unaudited) continued   August 31, 2024

  Face
Amount~		   Value
CORPORATE BONDS†† - 44.0% (continued)
Financial -  12.5% (Continued)      
BBC Military Housing-Navy Northeast LLC      
6.30% due 10/15/492   2,700,000    $2,568,172
HUB International Ltd.      
5.63% due 12/01/296   2,500,000    2,440,504
Bank of Nova Scotia      
8.63% due 10/27/821,5   2,150,000    2,302,839
Kane Bidco Ltd.      
5.00% due 02/15/27 EUR  2,050,000    2,243,533
Nationstar Mortgage Holdings, Inc.      
5.00% due 02/01/261,6   2,180,000    2,154,296
Lincoln National Corp.      
4.38% due 06/15/501   2,560,000    2,028,810
VFH Parent LLC / Valor Company-Issuer, Inc.      
7.50% due 06/15/316   1,800,000    1,867,334
First American Financial Corp.      
4.00% due 05/15/301   1,740,000    1,639,567
Alliant Holdings Intermediate LLC / Alliant Holdings Company-Issuer      
4.25% due 10/15/271,6   725,000    698,746
7.00% due 01/15/316   425,000    439,259
6.75% due 04/15/286   350,000    356,478
Allianz SE      
3.50% 5,6,9   1,400,000    1,328,944
OneAmerica Financial Partners, Inc.      
4.25% due 10/15/501,6   1,730,000    1,261,740
Weyerhaeuser Co.      
6.88% due 12/15/331   1,100,000    1,232,861
Ryan Specialty LLC      
4.38% due 02/01/306   1,100,000    1,053,828
USI, Inc.      
7.50% due 01/15/326   970,000    1,016,082
QBE Insurance Group Ltd.      
5.88% 1,5,6,9   950,000    948,693
Pershing Square Holdings Ltd.      
3.25% due 10/01/316   1,100,000    931,075
Reinsurance Group of America, Inc.      
3.15% due 06/15/301   1,000,000    921,417
Ardonagh Finco Ltd.      
7.75% due 02/15/316   850,000    877,430
PartnerRe Finance B LLC      
4.50% due 10/01/505   950,000    868,297
Galaxy Bidco Ltd.      
8.64% (3 Month EURIBOR + 5.00%, Rate Floor: 5.00%) due 07/31/26◊ EUR  750,000    831,168
Prudential Financial, Inc.      
5.13% due 03/01/525   700,000    682,041
Fort Moore Family Communities LLC      
6.09% due 01/15/516   680,358    619,797
Pacific Beacon LLC      
5.63% due 07/15/516   654,588    602,997
Macquarie Bank Ltd.      
3.62% due 06/03/301,6   640,000    591,248
Assurant, Inc.      
7.00% due 03/27/485   400,000    406,507
Fort Gordon Housing LLC      
6.32% due 05/15/516   200,000    193,274
Atlas Mara Ltd.      
 due 12/31/21†††,17   180,783    –
Total Financial      224,945,169
Consumer, Non-cyclical -  6.2%      
Medline Borrower, LP      
5.25% due 10/01/291,6   5,200,000    5,107,111
3.88% due 04/01/296   2,000,000    1,889,137
BCP V Modular Services Finance II plc      
6.13% due 10/30/286 GBP  4,250,000    5,247,045
4.75% due 10/30/286 EUR  1,550,000    1,646,871
Cheplapharm Arzneimittel GmbH      
5.50% due 01/15/281,6   6,945,000    6,670,375
Bausch Health Companies, Inc.      
4.88% due 06/01/286   8,025,000    5,858,250
Williams Scotsman, Inc.      
4.63% due 08/15/281,6   3,675,000    3,543,700
6.13% due 06/15/256   1,683,000    1,678,792
IP Lending X Ltd.      
7.75% due 07/02/29†††,6   4,765,000    4,788,825
US Foods, Inc.      
4.63% due 06/01/301,6   2,500,000    2,392,969
4.75% due 02/15/296   2,250,000    2,193,854
CPI CG, Inc.      
10.00% due 07/15/296   4,300,000    4,522,460
Altria Group, Inc.      
3.70% due 02/04/511   6,000,000    4,336,585
Reynolds American, Inc.      
5.70% due 08/15/351   4,150,000    4,249,160
Champions Financing, Inc.      
8.75% due 02/15/291,6   4,020,000    4,123,139
JBS USA Holding Lux Sarl/ JBS USA Food Company/ JBS Lux Co Sarl      
4.38% due 02/02/521   4,800,000    3,770,134
Post Holdings, Inc.      
4.50% due 09/15/311,6   3,925,000    3,652,225
Upbound Group, Inc.      
6.38% due 02/15/291,6   3,625,000    3,535,976
Sotheby's      
7.38% due 10/15/271,6   3,399,000    3,245,864
AZ Battery Property LLC      
6.73% due 02/20/46†††   3,000,000    3,097,338
Acadia Healthcare Company, Inc.      
5.00% due 04/15/291,6   2,400,000    2,338,642
5.50% due 07/01/286   550,000    545,783
DaVita, Inc.      
4.63% due 06/01/306   1,900,000    1,791,509
3.75% due 02/15/316   1,200,000    1,068,121
Neogen Food Safety Corp.      
8.63% due 07/20/306   2,450,000    2,673,472
Avantor Funding, Inc.      
4.63% due 07/15/281,6   1,700,000    1,654,387
3.88% due 11/01/296   925,000    864,377
Castor S.p.A.      
8.97% (3 Month EURIBOR + 5.25%, Rate Floor: 5.25%) due 02/15/29◊,6 EUR  2,300,000    2,501,244
 
 

 

Guggenheim Strategic Opportunities Fund  
SCHEDULE OF INVESTMENTS (Unaudited) continued   August 31, 2024

  Face
Amount~		   Value
CORPORATE BONDS†† - 44.0% (continued)
Consumer, Non-cyclical-  6.2%      
Sotheby's/Bidfair Holdings, Inc.      
5.88% due 06/01/291,6   2,700,000    $2,326,496
Verisure Holding AB      
5.50% due 05/15/306 EUR  1,950,000    2,218,357
Option Care Health, Inc.      
4.38% due 10/31/291,6   2,275,000    2,157,924
ADT Security Corp.      
4.13% due 08/01/291,6   1,050,000    997,126
4.88% due 07/15/326   1,000,000    950,589
Nobel Bidco B.V.      
3.13% due 06/15/28 EUR  1,750,000    1,775,768
APi Group DE, Inc.      
4.75% due 10/15/296   1,225,000    1,171,533
4.13% due 07/15/296   400,000    376,005
Royalty Pharma plc      
3.55% due 09/02/50   2,100,000    1,486,836
HealthEquity, Inc.      
4.50% due 10/01/291,6   1,550,000    1,479,200
Grifols S.A.      
4.75% due 10/15/281,6   1,350,000    1,282,415
TreeHouse Foods, Inc.      
4.00% due 09/01/281   1,150,000    1,063,060
Central Garden & Pet Co.      
4.13% due 10/15/30   625,000    574,266
4.13% due 04/30/316   400,000    362,458
Carriage Services, Inc.      
4.25% due 05/15/296   775,000    715,572
AMN Healthcare, Inc.      
4.63% due 10/01/271,6   725,000    708,070
Valvoline, Inc.      
3.63% due 06/15/316   760,000    676,841
Catalent Pharma Solutions, Inc.      
3.50% due 04/01/301,6   625,000    610,331
Prestige Brands, Inc.      
3.75% due 04/01/316   300,000    271,892
Darling Ingredients, Inc.      
6.00% due 06/15/306   250,000    253,060
WW International, Inc.      
4.50% due 04/15/291,6   950,000    235,125
Nidda Healthcare Holding      
7.50% due 08/21/26 EUR  175,000    199,762
Albertsons Companies Incorporated / Safeway Inc / New Albertsons Limited Partnership / Albertsons LLC      
5.88% due 02/15/286   100,000    99,751
Total Consumer, Non-cyclical      110,979,782
Consumer, Cyclical -  6.1%      
Delta Air Lines, Inc.      
7.00% due 05/01/251,6   10,535,000    10,605,167
Suburban Propane Partners Limited Partnership/Suburban Energy Finance Corp.      
5.88% due 03/01/271   3,210,000    3,196,348
5.00% due 06/01/316   1,800,000    1,651,927
Penn Entertainment, Inc.      
4.13% due 07/01/291,6   4,925,000    4,411,066
CD&R Smokey Buyer, Inc.      
6.75% due 07/15/251,6   4,445,000    4,407,478
Evergreen Acqco 1 Limited Partnership / TVI, Inc.      
9.75% due 04/26/281,6   4,066,000    4,289,036
Crocs, Inc.      
4.25% due 03/15/291,6   3,188,000    3,009,713
4.13% due 08/15/316   1,400,000    1,258,350
Wabash National Corp.      
4.50% due 10/15/281,6   4,350,000    4,004,575
Delta Air Lines, Inc. / SkyMiles IP Ltd.      
4.75% due 10/20/286   3,950,000    3,911,820
Station Casinos LLC      
4.63% due 12/01/311,6   4,200,000    3,898,911
Allwyn Entertainment Financing UK plc      
7.88% due 04/30/296   3,750,000    3,895,800
Fertitta Entertainment LLC / Fertitta Entertainment Finance Company, Inc.      
4.63% due 01/15/291,6   4,100,000    3,835,564
Wolverine World Wide, Inc.      
4.00% due 08/15/296   4,450,000    3,789,436
Hawaiian Brand Intellectual Property Ltd. / HawaiianMiles Loyalty Ltd.      
11.00% due 04/15/296   3,361,875    3,421,717
Live Nation Entertainment, Inc.      
6.50% due 05/15/271,6   3,350,000    3,407,690
Air Canada Class A Pass Through Trust      
5.25% due 04/01/296   3,092,063    3,089,197
Air Canada      
4.63% due 08/15/296 CAD  2,900,000    2,095,920
3.88% due 08/15/261,6   825,000    796,070
Clarios Global Limited Partnership / Clarios US Finance Co.      
8.50% due 05/15/271,6   2,650,000    2,676,002
PetSmart, Inc. / PetSmart Finance Corp.      
4.75% due 02/15/281,6   2,725,000    2,606,318
Scotts Miracle-Gro Co.      
4.00% due 04/01/31   2,150,000    1,926,159
4.38% due 02/01/32   700,000    629,080
Walgreens Boots Alliance, Inc.      
4.10% due 04/15/501   3,800,000    2,471,701
United Airlines, Inc.      
4.63% due 04/15/291,6   2,575,000    2,451,145
JB Poindexter & Company, Inc.      
8.75% due 12/15/311,6   2,270,000    2,394,530
Ontario Gaming GTA Limited Partnership/OTG Company-Issuer, Inc.      
8.00% due 08/01/306   2,150,000    2,216,001
Yum! Brands, Inc.      
4.63% due 01/31/321   1,987,000    1,883,215
Superior Plus Limited Partnership / Superior General Partner, Inc.      
4.50% due 03/15/296   2,000,000    1,871,181
 
 

 

Guggenheim Strategic Opportunities Fund  
SCHEDULE OF INVESTMENTS (Unaudited) continued   August 31, 2024

  Face
Amount~		   Value
CORPORATE BONDS†† - 44.0% (continued)
Consumer, cyclical-  6.1% (continued)      
Ritchie Bros Holdings, Inc.      
7.75% due 03/15/316   1,750,000    $1,860,176
Hanesbrands, Inc.      
9.00% due 02/15/311,6   1,500,000    1,612,674
4.88% due 05/15/266   225,000    223,437
HP Communities LLC      
6.82% due 09/15/536   913,043    922,422
6.16% due 09/15/536   1,000,000    825,631
Wyndham Hotels & Resorts, Inc.      
4.38% due 08/15/281,6   1,625,000    1,555,360
ONE Hotels GmbH      
7.75% due 04/02/316 EUR  1,300,000    1,509,098
1011778 BC ULC / New Red Finance, Inc.      
3.88% due 01/15/286   850,000    811,697
4.00% due 10/15/306   725,000    664,087
Hilton Domestic Operating Company, Inc.      
3.63% due 02/15/326   1,350,000    1,210,049
Boyne USA, Inc.      
4.75% due 05/15/296   1,250,000    1,199,781
Deuce FinCo plc      
5.50% due 06/15/27 GBP  900,000    1,143,559
Tempur Sealy International, Inc.      
3.88% due 10/15/316   700,000    615,638
4.00% due 04/15/296   500,000    463,646
Allison Transmission, Inc.      
3.75% due 01/30/311,6   1,100,000    999,643
Clarios Global, LP      
6.75% due 05/15/256   990,000    990,877
Ferrellgas Limited Partnership / Ferrellgas Finance Corp.      
5.38% due 04/01/266   975,000    977,871
Scientific Games Holdings Limited Partnership/Scientific Games US FinCo, Inc.      
6.63% due 03/01/306   850,000    840,702
Six Flags Theme Parks, Inc.      
7.00% due 07/01/256   531,000    530,677
Velocity Vehicle Group LLC      
8.00% due 06/01/296   370,000    384,843
United Airlines Class AA Pass Through Trust      
3.45% due 12/01/27   390,593    373,291
Superior Plus, LP      
4.25% due 05/18/286 CAD  350,000    244,838
Aramark Services, Inc.      
5.00% due 02/01/286   110,000    107,892
Exide Technologies      
 due 10/31/24†††,17   2,353,687    2
Total Consumer, Cyclical      110,169,008
Communications -  4.8%      
McGraw-Hill Education, Inc.      
8.00% due 08/01/291,6   6,300,000    6,273,792
5.75% due 08/01/281,6   3,525,000    3,454,936
Altice France S.A.      
5.50% due 10/15/291,6   8,175,000    5,672,146
5.13% due 07/15/291,6   3,025,000    2,110,504
8.13% due 02/01/276   1,300,000    1,045,598
Cogent Communications Group LLC      
7.00% due 06/15/271,6   7,500,000    7,590,630
VZ Secured Financing B.V.      
5.00% due 01/15/321,6   6,850,000    6,197,377
British Telecommunications plc      
4.88% due 11/23/811,5,6   5,550,000    5,076,212
4.25% due 11/23/811,5,6   950,000    914,755
Outfront Media Capital LLC / Outfront Media Capital Corp.      
4.25% due 01/15/291,6   5,725,000    5,403,457
Paramount Global      
4.95% due 05/19/501   6,390,000    4,769,967
Sunrise FinCo I B.V.      
4.88% due 07/15/311,6   4,550,000    4,234,822
AMC Networks, Inc.      
4.25% due 02/15/291   3,450,000    2,446,370
10.25% due 01/15/296   1,100,000    1,105,500
LCPR Senior Secured Financing DAC      
6.75% due 10/15/276   2,114,000    1,932,752
5.13% due 07/15/291,6   1,900,000    1,534,255
Corning, Inc.      
4.38% due 11/15/57   4,100,000    3,380,083
Vodafone Group plc      
5.13% due 06/04/811,5   4,100,000    3,216,395
CSC Holdings LLC      
11.25% due 05/15/286   2,750,000    2,443,892
4.63% due 12/01/301,6   1,913,000    747,972
Ciena Corp.      
4.00% due 01/31/301,6   2,150,000    2,017,997
Sirius XM Radio, Inc.      
3.88% due 09/01/311,6   2,300,000    1,973,621
CCO Holdings LLC / CCO Holdings Capital Corp.      
4.50% due 06/01/331,6   1,225,000    1,024,101
4.25% due 01/15/346   750,000    604,808
4.50% due 05/01/32   325,000    277,503
Rogers Communications, Inc.      
4.55% due 03/15/52   2,200,000    1,864,027
Level 3 Financing, Inc.      
3.88% due 10/15/306   1,500,000    1,020,702
4.00% due 04/15/316   600,000    401,995
11.00% due 11/15/296   347,164    380,598
Vmed O2 UK Financing I plc      
4.25% due 01/31/316   1,225,000    1,064,945
4.75% due 07/15/316   650,000    570,246
Charter Communications Operating LLC / Charter Communications Operating Capital      
3.90% due 06/01/52   2,000,000    1,309,770
Virgin Media Secured Finance plc      
4.50% due 08/15/306   1,200,000    1,059,626
Zayo Group Holdings, Inc.      
4.00% due 03/01/271,6   1,050,000    916,475
Match Group Holdings II LLC      
3.63% due 10/01/316   875,000    776,966
Ziggo B.V.      
4.88% due 01/15/306   725,000    675,930
 
 

Guggenheim Strategic Opportunities Fund  
SCHEDULE OF INVESTMENTS (Unaudited) continued   August 31, 2024

 

 

  Face
Amount~		   Value
CORPORATE BONDS†† - 44.0% (continued)
Communication -  4.8% (continued)      
Ziggo Bond Company B.V.      
5.13% due 02/28/301,6   500,000    $451,222
Total Communications      85,941,947
Industrial -  4.8%      
AP Grange Holdings      
6.50% due 03/20/45†††   11,000,000    11,000,000
5.00% due 03/20/45†††   1,200,000    1,200,000
New Enterprise Stone & Lime Company, Inc.      
9.75% due 07/15/286   7,717,000    7,872,606
5.25% due 07/15/281,6   2,025,000    1,962,275
Standard Industries, Inc.      
4.38% due 07/15/301,6   7,050,000    6,591,572
3.38% due 01/15/316   1,100,000    961,922
Great Lakes Dredge & Dock Corp.      
5.25% due 06/01/291,6   4,500,000    4,113,140
Builders FirstSource, Inc.      
6.38% due 06/15/321,6   2,500,000    2,574,783
4.25% due 02/01/326   1,675,000    1,530,358
Calderys Financing LLC      
11.25% due 06/01/281,6   3,737,000    4,051,913
Victoria plc      
3.63% due 08/05/26 EUR  4,004,000    3,917,245
Enviri Corp.      
5.75% due 07/31/271,6   3,624,000    3,531,382
Waste Pro USA, Inc.      
5.50% due 02/15/266   3,370,000    3,356,881
Mauser Packaging Solutions Holding Co.      
7.88% due 04/15/276   1,875,000    1,938,618
9.25% due 04/15/276   1,000,000    1,015,871
Artera Services LLC      
8.50% due 02/15/316   2,400,000    2,402,729
Clearwater Paper Corp.      
4.75% due 08/15/281,6   2,547,000    2,377,279
SCIL IV LLC / SCIL USA Holdings LLC      
9.50% due 07/15/28 EUR  1,800,000    2,158,040
GrafTech Global Enterprises, Inc.      
9.88% due 12/15/281,6   2,600,000    2,086,209
Howmet Aerospace, Inc.      
3.00% due 01/15/291   1,175,000    1,103,907
5.95% due 02/01/37   875,000    948,368
AmeriTex HoldCo Intermediate LLC      
10.25% due 10/15/281,6   1,900,000    2,021,381
Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance plc      
4.00% due 09/01/291,6   2,300,000    1,982,026
GrafTech Finance, Inc.      
4.63% due 12/15/281,6   2,860,000    1,914,718
Summit Materials LLC / Summit Materials Finance Corp.      
5.25% due 01/15/291,6   1,775,000    1,757,064
Deuce FinCo plc      
5.50% due 06/15/276 GBP  1,200,000    1,524,746
8.47% (3 Month EURIBOR + 4.75%, Rate Floor: 4.75%) due 06/15/27◊ EUR  100,000    111,154
Brundage-Bone Concrete Pumping Holdings, Inc.      
6.00% due 02/01/266   1,625,000    1,624,806
TK Elevator US Newco, Inc.      
5.25% due 07/15/276   1,550,000    1,525,913
Cellnex Finance Company S.A.      
3.88% due 07/07/416   1,750,000    1,433,178
Worldpay US, Inc.      
8.50% due 01/15/31 GBP  750,000    1,064,963
Amsted Industries, Inc.      
4.63% due 05/15/306   950,000    893,609
Ball Corp.      
3.13% due 09/15/311   875,000    765,006
GATX Corp.      
4.00% due 06/30/30   560,000    540,038
TopBuild Corp.      
4.13% due 02/15/326   400,000    364,074
Arcosa, Inc.      
4.38% due 04/15/296   350,000    331,913
EnerSys      
4.38% due 12/15/276   325,000    317,476
Hillenbrand, Inc.      
3.75% due 03/01/311   250,000    222,028
MIWD Holdco II LLC / MIWD Finance Corp.      
5.50% due 02/01/306   125,000    118,514
Enpro, Inc.      
5.75% due 10/15/26   115,000    114,398
Vertical Midco GmbH      
4.38% due 07/15/27 EUR  100,000    108,799
Total Industrial      85,430,902
Energy -  4.0%      
Global Partners Limited Partnership / GLP Finance Corp.      
7.00% due 08/01/271   4,800,000    4,841,179
6.88% due 01/15/291   2,980,000    3,001,312
ITT Holdings LLC      
6.50% due 08/01/291,6   8,050,000    7,590,552
Occidental Petroleum Corp.      
6.20% due 03/15/40   2,100,000    2,194,697
7.00% due 11/15/27   2,000,000    2,098,816
4.30% due 08/15/39   2,100,000    1,782,983
4.63% due 06/15/45   750,000    614,400
Venture Global LNG, Inc.      
9.88% due 02/01/321,6   6,000,000    6,666,000
BP Capital Markets plc      
4.88% 5,9   6,750,000    6,612,409
NuStar Logistics, LP      
6.38% due 10/01/301   5,625,000    5,876,617
5.63% due 04/28/27   200,000    200,535
6.00% due 06/01/26   125,000    126,169
CVR Energy, Inc.      
8.50% due 01/15/296   3,500,000    3,565,800
5.75% due 02/15/286   2,100,000    1,980,390
Energy Transfer, LP      
7.38% due 02/01/311,6   3,800,000    4,045,750
TransMontaigne Partners Limited Partnership / TLP Finance Corp.      
6.13% due 02/15/26   4,025,000    3,948,469
 
 

Guggenheim Strategic Opportunities Fund  
SCHEDULE OF INVESTMENTS (Unaudited) continued   August 31, 2024

 

  Face
Amount~		   Value
CORPORATE BONDS†† - 44.0% (continued)
Energy -  4.0% (continued)      
Parkland Corp.      
4.63% due 05/01/306   2,700,000    $2,525,265
4.50% due 10/01/291,6   1,300,000    1,227,167
Buckeye Partners, LP      
5.85% due 11/15/431   3,750,000    3,391,618
4.35% due 10/15/24   249,000    247,931
EnLink Midstream LLC      
6.50% due 09/01/301,6   2,600,000    2,779,675
Hess Corp.      
5.60% due 02/15/411   1,550,000    1,584,991
6.00% due 01/15/401   1,000,000    1,061,741
Southwestern Energy Co.      
5.38% due 02/01/291   1,400,000    1,382,121
Venture Global Calcasieu Pass LLC      
4.13% due 08/15/316   775,000    718,414
Viper Energy, Inc.      
7.38% due 11/01/316   300,000    318,557
5.38% due 11/01/276   200,000    198,197
DT Midstream, Inc.      
4.13% due 06/15/291,6   425,000    403,746
FLNG Liquefaction 2 LLC      
4.13% due 03/31/386   226,408    204,074
Basic Energy Services, Inc.      
 due 10/15/2317   1,030,000    5,150
Total Energy      71,194,725
Technology -  2.5%      
AthenaHealth Group, Inc.      
6.50% due 02/15/306   7,900,000    7,558,076
Cloud Software Group, Inc.      
6.50% due 03/31/291,6   5,630,000    5,549,738
TeamSystem S.p.A.      
7.19% due 07/31/31 EUR  2,500,000    2,763,807
3.50% due 02/15/28 EUR  1,700,000    1,799,480
Capstone Borrower, Inc.      
8.00% due 06/15/301,6   3,800,000    4,002,483
NCR Voyix Corp.      
5.25% due 10/01/301,6   3,150,000    3,057,444
5.13% due 04/15/296   900,000    882,587
Broadcom, Inc.      
3.19% due 11/15/361,6   4,400,000    3,640,669
Central Parent Incorporated / CDK Global, Inc.      
7.25% due 06/15/291,6   3,400,000    3,416,946
Twilio, Inc.      
3.88% due 03/15/311   2,000,000    1,834,275
Playtika Holding Corp.      
4.25% due 03/15/291,6   2,025,000    1,819,790
Dun & Bradstreet Corp.      
5.00% due 12/15/296   1,800,000    1,782,394
Gartner, Inc.      
4.50% due 07/01/281,6   1,700,000    1,669,565
Oracle Corp.      
3.95% due 03/25/511   2,100,000    1,623,862
Dye & Durham Ltd.      
8.63% due 04/15/296   1,200,000    1,257,379
Amentum Escrow Corp.      
7.25% due 08/01/326   700,000    731,919
Central Parent LLC / CDK Global II LLC / CDK Financing Company, Inc.      
8.00% due 06/15/296   350,000    361,372
Booz Allen Hamilton, Inc.      
4.00% due 07/01/296   325,000    314,064
Total Technology      44,065,850
Basic Materials -  2.4%      
Carpenter Technology Corp.      
6.38% due 07/15/28   5,225,000    5,229,979
7.63% due 03/15/30   2,500,000    2,594,598
SCIL IV LLC / SCIL USA Holdings LLC      
5.38% due 11/01/261,6   6,075,000    5,985,942
Kaiser Aluminum Corp.      
4.50% due 06/01/311,6   4,860,000    4,367,510
4.63% due 03/01/286   1,000,000    949,645
Alcoa Nederland Holding BV      
5.50% due 12/15/276   3,625,000    3,617,066
6.13% due 05/15/286   1,475,000    1,494,020
SK Invictus Intermediate II SARL      
5.00% due 10/30/291,6   5,250,000    4,954,582
International Flavors & Fragrances, Inc.      
1.23% due 10/01/251,6   3,060,000    2,936,815
WR Grace Holdings LLC      
4.88% due 06/15/271,6   2,325,000    2,273,612
7.38% due 03/01/316   500,000    519,346
Compass Minerals International, Inc.      
6.75% due 12/01/271,6   2,550,000    2,479,888
Arsenal AIC Parent LLC      
8.00% due 10/01/306   1,550,000    1,666,475
Illuminate Buyer LLC / Illuminate Holdings IV, Inc.      
9.00% due 07/01/286   1,625,000    1,640,090
Minerals Technologies, Inc.      
5.00% due 07/01/286   1,350,000    1,309,797
HB Fuller Co.      
4.25% due 10/15/28   1,150,000    1,095,378
Mirabela Nickel Ltd.      
 due 06/24/19†††,2,17   2,667,995    13,340
Total Basic Materials      43,128,083
Utilities -  0.5%      
Terraform Global Operating, LP      
6.13% due 03/01/261,6   5,255,000    5,254,050
Alexander Funding Trust II      
7.47% due 07/31/286   1,950,000    2,094,737
Clearway Energy Operating LLC      
3.75% due 02/15/311,6   1,663,000    1,508,968
3.75% due 01/15/326   525,000    466,320
Total Utilities      9,324,075
Government -  0.2%      
CoBank ACB      
7.25% 5,9   4,300,000    4,433,463
       
Total Corporate Bonds    
(Cost $831,736,078)   789,613,004
SENIOR FLOATING RATE INTERESTS††,◊ - 38.7%
Consumer, Cyclical - 8.4%      
Pacific Bells LLC      
10.10% (3 Month Term SOFR + 4.50%, Rate Floor: 5.00%) due 11/10/28   7,848,957    7,836,713
 
 

Guggenheim Strategic Opportunities Fund  
SCHEDULE OF INVESTMENTS (Unaudited) continued   August 31, 2024

 

 

  Face
Amount~		   Value
SENIOR FLOATING RATE INTERESTS††,◊ - 38.7% (continued)
Consumer, Cyclical - 8.4% (continued)      
FR Refuel LLC      
10.11% (1 Month Term SOFR + 4.75%, Rate Floor: 5.50%) due 11/08/28   7,786,000    $7,630,280
First Brands Group LLC      
10.51% (3 Month Term SOFR + 5.00%, Rate Floor: 6.00%) due 03/30/27   6,182,173    6,099,084
MB2 Dental Solutions, LLC      
11.25% (1 Month Term SOFR + 6.00%, Rate Floor: 6.75%) due 02/13/31†††   5,937,614    5,902,471
Alexander Mann      
11.49% (2 Month SOFR + 6.00%, Rate Floor: 6.00%) due 06/29/27   5,331,710    5,191,753
BRE/Everbright M6 Borrower LLC      
10.41% (1 Month Term SOFR + 5.00%, Rate Floor: 5.75%) due 09/09/26   5,181,821    5,181,821
Accuride Corp.      
11.93% (3 Month Term SOFR + 1.00%, Rate Floor: 2.00%) (in-kind rate was 5.87%) due 05/18/2610   5,483,672    3,668,576
15.25% (1 Month Term SOFR - –%) (in-kind rate was 15.25%) due 09/30/2410   1,162,308    1,106,960
QSRP Finco B.V.      
8.96% (3 Month EURIBOR + 5.25%, Rate Floor: 5.25%) due 06/14/31 EUR  4,100,000    4,528,130
Shaw Development LLC      
11.25% (3 Month Term SOFR + 6.00%, Rate Floor: 6.00%) due 10/30/29†††   4,456,915    4,380,180
Secretariat Advisors LLC      
10.35% (3 Month Term SOFR + 5.01%, Rate Floor: 5.76%) due 12/29/28†††   4,296,000    4,274,520
BIFM CA Buyer, Inc.      
9.50% (1 Month Term SOFR + 4.25%, Rate Floor: 4.75%) due 05/31/28   4,100,619    4,113,454
ImageFIRST Holdings LLC      
9.39% ((1 Month Term SOFR + 4.25%) and (3 Month Term SOFR + 4.25%), Rate Floor: 5.00%) due 04/27/28†††   4,121,751    4,111,446
Zephyr Bidco Ltd.      
10.45% (1 Month GBP SONIA + 5.50%, Rate Floor: 5.50%) due 07/20/28 GBP  3,000,000    3,953,104
Casper Bidco SAS (B&B Hotels)      
7.85% (1 Month EURIBOR + 4.25%, Rate Floor: 4.25%) due 03/21/31 EUR  3,500,000    3,871,551
Truck Hero, Inc.      
8.86% (1 Month Term SOFR + 3.50%, Rate Floor: 4.25%) due 01/31/28   3,870,000    3,814,388
Normec 1 B.V.      
7.59% (1 Month EURIBOR + 4.00%, Rate Floor: 4.00%) due 04/16/31 EUR  3,393,158    3,760,381
Thevelia US LLC      
7.47% (3 Month EURIBOR + 3.75%, Rate Floor: 3.75%) due 06/18/29 EUR  2,100,000    2,326,784
8.51% (3 Month Term SOFR + 3.25%, Rate Floor: 3.75%) due 06/18/29   1,016,750    1,021,834
Alterra Mountain Co.      
8.75% (1 Month Term SOFR + 3.50%, Rate Floor: 3.50%) due 05/31/30   2,650,000    2,661,051
8.50% (1 Month Term SOFR + 3.25%, Rate Floor: 3.25%) due 08/17/28   578,318    578,752
The Facilities Group      
10.64% ((3 Month Term SOFR + 5.59%) and (6 Month Term SOFR + 5.59%), Rate Floor: 6.59%) due 11/30/27†††   3,276,362    3,220,747
NFM & J LLC      
11.10% (3 Month Term SOFR + 5.75%, Rate Floor: 6.75%) due 11/30/27†††   3,223,244    3,168,530
Apro LLC      
9.08% (1 Month Term SOFR + 3.75%, Rate Floor: 3.75%) due 07/09/31   3,150,000    3,150,000
Da Vinci Purchaser Corp.      
8.75% (1 Month Term SOFR + 3.50%, Rate Floor: 4.50%) due 01/08/27   3,128,536    3,131,790
Entain Holdings (Gibraltar) Ltd.      
6.92% (6 Month EURIBOR + 3.25%, Rate Floor: 3.25%) due 06/30/28 EUR  2,750,000    3,046,098
 
 

Guggenheim Strategic Opportunities Fund  
SCHEDULE OF INVESTMENTS (Unaudited) continued   August 31, 2024

 

  Face
Amount~		   Value
SENIOR FLOATING RATE INTERESTS††,◊ - 38.7% (continued)
Consumer, Cyclical - 8.4% (continued)      
Breitling Financing SARL      
7.57% (6 Month EURIBOR + 3.90%, Rate Floor: 3.90%) due 10/25/28 EUR  2,800,000    $3,001,132
One Hotels GmbH      
8.21% (3 Month EURIBOR + 4.50%, Rate Floor: 4.50%) due 04/02/31 EUR  2,600,000    2,881,988
Seren BidCo AB      
8.73% (3 Month SOFR + 3.40%, Rate Floor: 3.90%) due 11/16/28   2,793,000    2,805,233
PetSmart LLC      
9.10% (1 Month Term SOFR + 3.75%, Rate Floor: 4.50%) due 02/11/28   2,764,500    2,743,766
Mavis Tire Express Services TopCo Corp.      
8.75% (1 Month Term SOFR + 3.50%, Rate Floor: 4.25%) due 05/04/28   2,685,291    2,686,687
Arcis Golf LLC      
9.11% (1 Month Term SOFR + 3.75%, Rate Floor: 4.25%) due 11/24/28   2,670,704    2,676,259
Caesars Entertainment, Inc.      
8.00% (1 Month Term SOFR + 2.75%, Rate Floor: 3.25%) due 02/06/31   1,995,000    1,991,668
8.00% (1 Month Term SOFR + 2.75%, Rate Floor: 3.25%) due 02/06/30   521,125    520,880
Drive Bidco B.V.      
8.13% (3 Month EURIBOR + 4.50%, Rate Floor: 4.50%) due 05/09/31††† EUR  2,200,000    2,425,934
BCPE Empire Holdings, Inc.      
9.25% (1 Month Term SOFR + 4.00%, Rate Floor: 4.50%) due 12/11/28   2,069,813    2,071,116
Orion Group      
11.85% (3 Month Term SOFR + 6.25%, Rate Floor: 7.25%) due 03/19/27†††   1,880,385    1,841,222
Scientific Games Corp.      
8.32% (3 Month Term SOFR + 3.00%, Rate Floor: 3.50%) due 04/04/29   1,843,125    1,834,149
CNT Holdings I Corp.      
8.75% (3 Month Term SOFR + 3.50%, Rate Floor: 4.25%) due 11/08/27   1,790,129    1,793,728
Sweetwater Sound      
9.61% (1 Month Term SOFR + 4.25%, Rate Floor: 5.00%) due 08/07/28   1,761,702    1,761,702
SHO Holding I Corp.      
10.82% (3 Month Term SOFR + 5.51%, Rate Floor: 6.51%) due 04/27/24†††   1,934,502    1,092,993
7.46% (1 Month Term SOFR + 2.00%, Rate Floor: 3.00%) due 06/30/29†††   403,070    354,701
11.96% (1 Month Term SOFR + 6.50%, Rate Floor: 7.50%) due 06/30/29†††   282,561    282,561
ScribeAmerica Intermediate Holdco LLC (Healthchannels)      
9.67% (6 Month Term SOFR + 4.50%, Rate Floor: 4.50%) due 04/03/25   2,424,465    1,631,471
Ontario Gaming GTA, LP      
9.58% (3 Month Term SOFR + 4.25%, Rate Floor: 4.75%) due 08/01/30   1,492,500    1,491,963
Packers Holdings LLC      
8.60% (1 Month Term SOFR + 3.25%, Rate Floor: 4.00%) due 03/09/28   2,687,486    1,424,368
Holding SOCOTEC      
9.57% (3 Month SOFR + 4.00%, Rate Floor: 4.75%) due 06/30/28   1,309,500    1,309,500
Fertitta Entertainment LLC      
9.09% (1 Month Term SOFR + 3.75%, Rate Floor: 4.25%) due 01/27/29   1,173,737    1,170,990
Parts Holding Europe      
7.19% (3 Month EURIBOR + 3.50%, Rate Floor: 3.50%) due 02/03/31 EUR  1,000,000    1,106,058
AAL Delaware Holdco, Inc.      
8.75% (1 Month Term SOFR + 3.50%, Rate Floor: 3.50%) due 07/22/31   1,070,000    1,073,007
Dealer Tire LLC      
8.75% (1 Month Term SOFR + 3.50%, Rate Floor: 4.00%) due 07/02/31   1,000,000    1,003,750
Bulldog Purchaser, Inc.      
9.58% (3 Month Term SOFR + 4.25%, Rate Floor: 4.75%) due 06/30/31   920,000    921,840

 

Guggenheim Strategic Opportunities Fund  
SCHEDULE OF INVESTMENTS (Unaudited) continued   August 31, 2024

 

 

  Face
Amount~		   Value
SENIOR FLOATING RATE INTERESTS††,◊ - 38.7% (continued)
Consumer, Cyclical - 8.4% (continued)      
PT Intermediate Holdings III LLC      
5.17% (3 Month Term SOFR + 3.25%, Rate Floor: 3.25%) due 04/03/30†††   909,545    $904,997
Congruex Group LLC      
11.15% (3 Month Term SOFR + 5.75%, Rate Floor: 6.50%) due 05/03/29   1,176,000    901,475
Elvis UK HoldCo Ltd.      
7.85% (3 Month EURIBOR + 4.18%, Rate Floor: 4.18%) due 10/19/28 EUR  800,000    887,464
Checkers Holdings, Inc.      
14.70% (6 Month Term SOFR + 3.00%, Rate Floor: 3.00%) (in-kind rate was 6.00%) due 06/16/28†††,10   677,225    677,225
12.70% (6 Month Term SOFR + 3.00%, Rate Floor: 3.00%) (in-kind rate was 4.00%) due 06/16/27†††,10   94,979    94,979
Clarios Global, LP      
6.59% (1 Month EURIBOR + 3.00%, Rate Floor: 3.00%) due 07/16/31 EUR  600,000    662,169
CCRR Parent, Inc.      
9.61% (1 Month Term SOFR + 4.25%, Rate Floor: 5.00%) due 03/06/28   741,699    652,080
SHO Holding I Corp.      
10.58% (3 Month Term SOFR + 5.26%, Rate Floor: 6.26%) due 04/27/24   484,000    295,240
EG Finco Ltd.      
11.07% (3 Month SOFR + 5.50%, Rate Floor: 5.50%) due 02/07/28   168,441    167,880
Total Consumer, Cyclical      150,872,573
Consumer, Non-cyclical -  8.0%      
Southern Veterinary Partners LLC      
9.00% (1 Month Term SOFR + 3.75%, Rate Floor: 4.75%) due 10/05/27   7,591,083    7,622,586
HAH Group Holding Co. LLC      
10.35% (1 Month Term SOFR + 5.00%, Rate Floor: 6.00%) due 10/29/27   7,629,678    7,616,936
LaserAway Intermediate Holdings II LLC      
11.30% (3 Month Term SOFR + 5.75%, Rate Floor: 6.50%) due 10/14/27   7,518,769    7,462,378
Quirch Foods Holdings LLC      
10.64% (3 Month Term SOFR + 5.00%, Rate Floor: 6.00%) due 10/27/27   6,795,281    6,396,602
Women's Care Holdings, Inc.      
9.85% (3 Month Term SOFR + 4.50%, Rate Floor: 5.25%) due 01/15/28   6,620,250    6,145,777
Nidda Healthcare Holding GmbH      
due 02/21/30 EUR  3,550,000    3,922,032
7.10% (1 Month EURIBOR + 3.50%, Rate Floor: 3.50%) due 08/21/26 EUR  1,900,000    2,095,125
PlayCore      
9.75% (3 Month Term SOFR + 4.50%, Rate Floor: 5.50%) due 02/20/30   4,887,750    4,899,187
Florida Food Products LLC      
10.36% (1 Month Term SOFR + 5.00%, Rate Floor: 5.75%) due 10/18/28   5,572,489    4,868,962
Bowtie Germany Bidco GMBH      
7.59% (1 Month EURIBOR + 4.00%, Rate Floor: 4.00%) due 08/01/31 EUR  4,200,000    4,591,864
Rainbow Finco SARL      
9.70% (3 Month GBP SONIA + 4.75%, Rate Floor: 4.75%) due 02/26/29 GBP  3,000,000    3,903,857
9.82% (6 Month SOFR + 4.50%, Rate Floor: 5.25%) due 02/26/29   700,000    679,875
Gibson Brands, Inc.      
10.58% (6 Month Term SOFR + 5.00%, Rate Floor: 5.00%) due 08/11/28   4,801,875    4,507,760
National Mentor Holdings, Inc.      
9.11% ((1 Month Term SOFR + 3.75%) and (3 Month Term SOFR + 3.75%), Rate Floor: 4.50%) due 03/02/28   4,257,808    4,102,143
9.18% (3 Month Term SOFR + 3.75%, Rate Floor: 4.50%) due 03/02/28   150,000    144,516
VC GB Holdings I Corp.      
9.10% (3 Month Term SOFR + 3.50%, Rate Floor: 4.00%) due 07/21/28   4,239,130    4,229,126
 
 

Guggenheim Strategic Opportunities Fund  
SCHEDULE OF INVESTMENTS (Unaudited) continued   August 31, 2024

  Face
Amount~		   Value
SENIOR FLOATING RATE INTERESTS††,◊ - 38.7% (continued)
Consumer, Non-Cyclical - 8.0% (continued)      
Curriculum Associates LLC      
10.19% (1 Month Term SOFR + 4.75%, Rate Floor: 4.75%) due 01/27/27†††   4,200,000    $4,184,943
Celeste Bidco B.V.      
8.21% (3 Month EURIBOR + 4.50%, Rate Floor: 4.50%) due 07/22/29 EUR  3,750,000    4,155,179
Albion Financing 3 SARL      
due 08/16/29 EUR  3,700,000    4,109,634
Midwest Veterinary Partners LLC      
9.08% (1 Month Term SOFR + 3.75%, Rate Floor: 4.50%) due 04/27/28   3,900,000    3,909,750
Heritage Grocers Group LLC      
12.18% (3 Month Term SOFR + 6.75%, Rate Floor: 7.50%) due 08/01/29   3,801,633    3,814,939
Blue Ribbon LLC      
11.58% (3 Month Term SOFR + 6.00%, Rate Floor: 6.75%) due 05/08/28   5,883,566    3,747,126
AI Aqua Merger Sub, Inc.      
8.84% (1 Month Term SOFR + 3.50%, Rate Floor: 4.00%) due 07/31/28†††   3,740,625    3,745,301
Cambrex Corp.      
8.85% (1 Month Term SOFR + 3.50%, Rate Floor: 4.25%) due 12/04/26   3,392,359    3,369,732
Balrog Acquisition, Inc.      
9.86% (1 Month Term SOFR + 4.50%, Rate Floor: 5.25%) due 09/05/28†††   3,019,500    3,000,628
Weber-Stephen Products LLC      
8.61% (1 Month Term SOFR + 3.25%, Rate Floor: 4.00%) due 10/30/27   3,000,186    2,779,552
PetIQ LLC      
9.64% (1 Month Term SOFR + 4.25%, Rate Floor: 4.75%) due 04/13/28   2,430,486    2,425,941
Chefs' Warehouse, Inc.      
9.25% (1 Month Term SOFR + 4.00%, Rate Floor: 4.50%) due 08/23/29   2,408,542    2,407,048
Lyons Magnus      
12.00% (3 Month Term SOFR + 2.50%, Rate Floor: 2.50%) (in-kind rate was 4.25%) due 05/10/2710   2,539,013    2,325,304
Artemis Acquisitions UK Ltd.      
7.45% (3 Month EURIBOR + 3.75%, Rate Floor: 3.75%) due 07/04/31 EUR  2,000,000    2,206,788
Outcomes Group Holdings, Inc.      
9.50% (1 Month Term SOFR + 4.25%, Rate Floor: 4.25%) due 05/06/31   2,150,000    2,160,213
Confluent Health LLC      
9.36% (1 Month Term SOFR + 4.00%, Rate Floor: 4.50%) due 11/30/28   2,152,254    2,103,828
IVI America LLC      
9.83% (3 Month Term SOFR + 4.50%, Rate Floor: 4.50%) due 04/09/31   2,050,000    2,064,944
Domidep      
8.34% (1 Month EURIBOR + 4.75%, Rate Floor: 4.75%) due 10/30/29 EUR  1,800,000    1,977,155
Aenova Holding Gmbh      
due 08/22/31 EUR  1,725,000    1,909,304
Summit Behavioral Healthcare LLC      
9.31% (3 Month Term SOFR + 4.25%, Rate Floor: 5.00%) due 11/24/28†††   1,794,924    1,732,102
Eyecare Partners LLC      
9.99% (3 Month Term SOFR + 1.00%, Rate Floor: 1.00%) (in-kind rate was 3.61%) due 11/30/2810   1,468,930    918,081
11.03% (3 Month Term SOFR + 5.75%, Rate Floor: 5.75%) due 08/31/28   350,691    352,532
Artisan Newco B.V.      
7.83% (3 Month EURIBOR + 4.25%, Rate Floor: 4.25%) due 02/12/29 EUR  1,100,000    1,221,333
Midwest Physician Administrative Services      
8.60% (3 Month Term SOFR + 3.00%, Rate Floor: 3.75%) due 03/12/28   1,274,162    1,111,707
Stars UK Bidco Ltd.      
7.87% (6 Month EURIBOR + 4.20%, Rate Floor: 4.20%) due 08/09/29 EUR  1,000,000    1,111,618
AI Monet (Luxembourg) Parentco SARL      
8.21% (3 Month EURIBOR + 4.50%, Rate Floor: 4.50%) due 03/06/31 EUR  1,000,000    1,106,500
 
 

Guggenheim Strategic Opportunities Fund  
SCHEDULE OF INVESTMENTS (Unaudited) continued   August 31, 2024

 

 

  Face
Amount~		   Value
SENIOR FLOATING RATE INTERESTS††,◊ - 38.7% (continued)
Consumer, Non-Cyclical - 8.0% (continued)      
Financiere N      
8.72% (3 Month EURIBOR + 5.00%, Rate Floor: 5.00%) due 01/22/29 EUR  1,000,000    $1,105,638
Resonetics LLC      
9.09% (1 Month Term SOFR + 3.75%, Rate Floor: 4.50%) due 06/18/31   1,000,000    1,001,750
Moran Foods LLC      
12.68% (3 Month Term SOFR + 7.25%, Rate Floor: 8.25%) due 06/30/26†††   1,812,226    1,001,438
Financiere Mendel      
8.35% (3 Month Term SOFR + 3.25%, Rate Floor: 3.25%) due 11/12/30   922,688    923,555
Balrog Acquisition, Inc.      
9.36% (1 Month Term SOFR + 4.00%, Rate Floor: 4.50%) due 09/05/28   707,860    705,503
Snacking Investments US LLC (Arnott's)      
9.25% (1 Month Term SOFR + 4.00%, Rate Floor: 5.00%) due 12/18/26   456,402    457,831
TGP Holdings LLC      
8.60% (1 Month Term SOFR + 3.25%, Rate Floor: 4.00%) due 06/29/28   376,631    352,982
Triton Water Holdings, Inc.      
8.85% (3 Month Term SOFR + 3.25%, Rate Floor: 3.75%) due 03/31/28   221,574    221,423
Surgery Center Holdings, Inc.      
8.06% (1 Month Term SOFR + 2.75%, Rate Floor: 2.75%) due 12/19/30   124,688    124,807
Total Consumer, Non-cyclical      143,034,835
Industrial - 7.4%      
Arcline FM Holdings LLC      
9.65% (6 Month Term SOFR + 4.75%, Rate Floor: 5.50%) due 06/23/28†††   7,099,250    7,138,083
CapStone Acquisition Holdings, Inc.      
due 11/12/29   6,068,676    6,023,161
Geo Parent Corp.      
10.60% (3 Month Term SOFR + 5.25%, Rate Floor: 5.25%) due 12/19/28†††   4,837,875    4,837,875
Charter Next Generation Inc.      
8.50% (1 Month Term SOFR + 3.25%, Rate Floor: 4.00%) due 12/01/27   4,656,744    4,666,197
Engineering Research And Consulting LLC      
due 08/29/31   4,600,000    4,508,000
Fugue Finance LLC      
7.76% (3 Month EURIBOR + 4.25%, Rate Floor: 4.25%) due 01/31/28 EUR  2,000,000    2,221,755
8.81% (3 Month Term SOFR + 3.75%, Rate Floor: 4.25%) due 02/26/31   2,194,500    2,207,667
Boluda Towage S.L.      
7.26% (3 Month EURIBOR + 3.75%, Rate Floor: 3.75%) due 06/01/30 EUR  3,950,000    4,377,487
Integrated Power Services Holdings, Inc.      
9.86% (1 Month Term SOFR + 4.50%, Rate Floor: 5.25%) due 11/22/28†††   4,389,754    4,376,491
Michael Baker International LLC      
10.00% (1 Month Term SOFR + 4.75%, Rate Floor: 5.50%) due 12/01/28†††   4,320,685    4,336,888
FCG Acquisitions, Inc      
9.35% (3 Month Term SOFR + 3.75%, Rate Floor: 4.25%) due 03/31/28   4,308,895    4,308,895
Inspired Finco Holdings Ltd.      
7.59% (1 Month EURIBOR + 4.00%, Rate Floor: 4.00%) due 02/28/31 EUR  2,550,000    2,825,324
7.59% (1 Month EURIBOR + 4.00%, Rate Floor: 4.00%) due 12/31/28 EUR  1,250,000    1,383,899
NA Rail Hold Co. LLC      
9.60% (3 Month Term SOFR + 4.00%, Rate Floor: 4.25%) due 10/19/26   4,206,482    4,203,873
Pelican Products, Inc.      
9.85% (3 Month Term SOFR + 4.25%, Rate Floor: 4.75%) due 12/29/28   4,474,854    4,096,102
Foundation Building Materials Holding Company LLC      
9.25% ((1 Month Term SOFR + 4.00%) and (3 Month Term SOFR + 4.00%), Rate Floor: 4.00%) due 01/29/31   4,139,625    4,004,135
 
 

Guggenheim Strategic Opportunities Fund  
SCHEDULE OF INVESTMENTS (Unaudited) continued   August 31, 2024

  Face
Amount~		   Value
SENIOR FLOATING RATE INTERESTS††,◊ - 38.7% (continued)
Industrial - 7.4% (continued)      
STS Operating, Inc.      
9.35% (1 Month Term SOFR + 4.00%, Rate Floor: 4.00%) due 03/25/31   3,990,000    $ 3,963,387
Merlin Buyer, Inc.      
9.25% (1 Month Term SOFR + 4.00%, Rate Floor: 4.50%) due 12/14/28   3,910,000    3,885,563
American Bath Group LLC      
9.10% (1 Month Term SOFR + 3.75%, Rate Floor: 4.25%) due 11/23/27   4,025,859    3,876,580
CPM Holdings, Inc.      
9.84% (1 Month Term SOFR + 4.50%, Rate Floor: 5.00%) due 09/28/28   3,842,717    3,690,200
Dispatch Terra Acquisition LLC      
9.73% (3 Month Term SOFR + 4.25%, Rate Floor: 5.00%) due 03/27/28   4,110,282    3,468,051
StandardAero      
8.75% (1 Month Term SOFR + 3.50%, Rate Floor: 3.50%) due 08/24/28   3,452,149    3,463,127
ASP Dream Acquisiton Co. LLC      
9.60% (1 Month Term SOFR + 4.25%, Rate Floor: 5.00%) due 12/15/28†††   3,239,679    3,239,679
Aegion Corp.      
9.00% (1 Month Term SOFR + 3.75%, Rate Floor: 4.50%) due 05/17/28   2,999,031    3,002,780
Anchor Packaging LLC      
9.00% (1 Month Term SOFR + 3.75%, Rate Floor: 3.75%) due 07/18/29   2,577,871    2,585,604
AI Convoy Luxembourg SARL      
7.62% (6 Month EURIBOR + 4.00%, Rate Floor: 4.00%) due 01/18/27 EUR  2,200,000    2,444,393
Savage Enterprises LLC      
8.25% (1 Month Term SOFR + 3.00%, Rate Floor: 3.50%) due 09/15/28   2,400,000    2,406,744
Bleriot US Bidco LLC      
8.58% (3 Month Term SOFR + 3.25%, Rate Floor: 3.25%) due 10/31/30   2,321,334    2,331,502
Mauser Packaging Solutions Holding Co.      
8.84% (1 Month Term SOFR + 3.50%, Rate Floor: 3.50%) due 04/15/27   2,286,347    2,292,063
CapStone Acquisition Holdings, Inc.      
10.19% (1 Month Term SOFR + 4.85%, Rate Floor: 5.85%) due 11/12/27†††   2,290,936    2,280,499
Atlantic Aviation      
8.75% (1 Month Term SOFR + 3.50%, Rate Floor: 4.00%) due 09/22/28   2,167,124    2,172,823
Weener Plastics Group B.V.      
8.16% (3 Month EURIBOR + 4.50%, Rate Floor: 4.50%) due 11/17/28 EUR  1,900,000    2,103,883
White Cap Supply Holdings LLC      
8.50% (1 Month Term SOFR + 3.25%, Rate Floor: 3.25%) due 10/19/29   1,968,241    1,955,015
Artera Services LLC      
9.83% (3 Month Term SOFR + 4.50%, Rate Floor: 4.50%) due 02/15/31   1,745,625    1,727,628
OptiGroup      
8.84% (1 Month EURIBOR + 5.25%, Rate Floor: 5.25%) due 03/16/29 EUR  1,600,000    1,659,660
Service Logic Acquisition, Inc.      
9.51% ((1 Month Term SOFR + 4.00%) and (3 Month Term SOFR + 4.00%), Rate Floor: 4.75%) due 10/29/27   1,641,517    1,641,517
DXP Enterprises, Inc.      
10.16% (6 Month Term SOFR + 4.75%, Rate Floor: 5.75%) due 10/11/30   1,538,375    1,545,421
ProAmpac PG Borrower LLC      
9.23% (3 Month Term SOFR + 4.00%, Rate Floor: 4.75%) due 09/15/28   1,320,441    1,322,091
ILPEA Parent, Inc.      
9.25% (1 Month Term SOFR + 4.00%, Rate Floor: 4.75%) due 06/22/28†††   1,246,059    1,246,059
LBM Acquisition LLC      
9.14% (1 Month Term SOFR + 3.75%, Rate Floor: 4.50%) due 06/06/31   1,245,000    1,206,940
 
 

Guggenheim Strategic Opportunities Fund  
SCHEDULE OF INVESTMENTS (Unaudited) continued   August 31, 2024

  Face
Amount~		   Value
SENIOR FLOATING RATE INTERESTS††,◊ - 38.7% (continued)
Industrial - 7.4% (continued)      
Spring Education Group, Inc.      
9.33% (3 Month Term SOFR + 4.00%, Rate Floor: 4.00%) due 10/04/30   1,194,000    $1,202,215
API Holdings III Corp.      
12.33% (3 Month Term SOFR + 1.00%, Rate Floor: 1.00%) (in-kind rate was 6.00%) due 05/07/2710   1,632,086    1,175,102
Solis IV B.V.      
7.53% (3 Month EURIBOR + 4.00%, Rate Floor: 4.00%) due 02/26/29 EUR  1,000,000    1,104,079
Merlin Buyer, Inc.      
10.00% (1 Month Term SOFR + 4.75%, Rate Floor: 5.25%) due 12/14/28†††   1,091,709    1,091,709
Valcour Packaging LLC      
9.33% (3 Month Term SOFR + 1.50%, Rate Floor: 1.50%) (in-kind rate was 2.25%) due 10/04/2810   432,894    364,713
10.56% (3 Month Term SOFR + 5.25%, Rate Floor: 5.25%) due 10/04/28   360,023    361,373
TK Elevator Midco GmbH      
6.61% (1 Week EURIBOR + 3.00%, Rate Floor: 3.00%) due 01/29/27††† EUR  572,451    606,765
Berlin Packaging LLC      
9.09% (3 Month Term SOFR + 3.75%, Rate Floor: 3.75%) due 06/07/31   470,000    469,511
Patriot Container Corp. (Wastequip)      
9.10% (3 Month Term SOFR + 3.85%, Rate Floor: 4.85%) due 03/20/25   347,222    339,149
Sundyne (Star US Bidco)      
9.60% (1 Month Term SOFR + 4.25%, Rate Floor: 5.25%) due 03/17/27   318,091    319,882
Osmose Utility Services, Inc.      
8.61% (1 Month Term SOFR + 3.25%, Rate Floor: 3.75%) due 06/23/28   294,697    292,793
Park River Holdings, Inc.      
8.84% (3 Month Term SOFR + 3.25%, Rate Floor: 4.00%) due 12/28/27   234,535    228,261
API Holdings III Corp.      
13.33% (3 Month Term SOFR + 1.00%, Rate Floor: 2.00%) (in-kind rate was 7.00%) due 03/25/27†††,10   122,909    120,119
Total Industrial      132,702,712
Technology - 7.0%      
Visma AS      
7.75% (3 Month EURIBOR + 4.00%, Rate Floor: 4.00%) due 12/05/28††† EUR  7,750,000    8,481,649
Avalara, Inc.      
12.08% (3 Month Term SOFR + 6.75%, Rate Floor: 7.50%) due 10/19/28†††   7,000,000    6,930,878
Datix Bidco Ltd.      
10.70% (1 Month GBP SONIA + 5.50%, Rate Floor: 5.50%) due 04/25/31††† GBP  3,920,000    5,108,230
10.82% (1 Month Term SOFR + 5.50%, Rate Floor: 6.00%) due 04/30/31†††   1,110,000    1,101,438
Polaris Newco LLC      
8.94% ((3 Month Term SOFR + 3.50%) and (Commercial Prime Lending Rate + 2.50%), Rate Floor: 3.50%) due 06/04/26†††   5,260,800    5,029,235
Finastra      
12.46% (6 Month Term SOFR + 7.25%, Rate Floor: 8.25%) due 09/13/29†††   4,875,500    4,838,679
Concorde Lux      
7.85% (6 Month EURIBOR + 4.00%, Rate Floor: 4.00%) due 03/01/28 EUR  4,252,725    4,712,975
Precise Midco B.V.      
7.94% (3 Month EURIBOR + 4.50%, Rate Floor: 4.50%) due 10/16/30 EUR  2,624,615    2,919,993
7.44% (3 Month EURIBOR + 3.50%, Rate Floor: 3.50%) due 05/13/26 EUR  775,385    859,914
7.72% (3 Month EURIBOR + 4.00%, Rate Floor: 4.00%) due 11/15/30 EUR  717,500    793,914
Team.Blue Finco SARL      
7.42% (3 Month EURIBOR + 3.70%, Rate Floor: 3.70%) due 03/30/28 EUR  4,150,000    4,559,632
Boxer Parent Co., Inc.      
9.01% (3 Month Term SOFR + 3.75%, Rate Floor: 3.75%) due 07/30/31   4,497,500    4,483,468
 
 

Guggenheim Strategic Opportunities Fund  
SCHEDULE OF INVESTMENTS (Unaudited) continued   August 31, 2024

  Face
Amount~		   Value
SENIOR FLOATING RATE INTERESTS††,◊ - 38.7% (continued)
Technology - 7.0% (continued)      
DS Admiral Bidco LLC      
9.59% (3 Month Term SOFR + 4.25%, Rate Floor: 4.25%) due 06/26/31†††   4,400,000    $4,268,000
Blackhawk Network Holdings, Inc.      
10.25% (1 Month Term SOFR + 5.00%, Rate Floor: 6.00%) due 03/12/29   4,190,000    4,217,486
Modena Buyer LLC      
9.83% (3 Month Term SOFR + 4.50%, Rate Floor: 4.50%) due 07/01/31   4,350,000    4,163,298
Leia Finco US LLC      
due 07/02/31   4,200,000    4,158,882
Bock Capital Bidco B.V.      
7.22% (3 Month EURIBOR + 3.50%, Rate Floor: 3.50%) due 06/29/28 EUR  3,800,000    4,151,729
Wrench Group LLC      
9.60% (3 Month Term SOFR + 4.00%, Rate Floor: 4.00%) due 10/30/28   4,135,016    4,133,279
Apttus Corp.      
9.46% (3 Month Term SOFR + 3.50%, Rate Floor: 3.50%) due 05/08/28   3,782,938    3,792,869
8.79% (1 Month Term SOFR + 3.50%, Rate Floor: 4.25%) due 05/08/28   115,000    115,719
Pushpay USA, Inc.      
9.84% (1 Month Term SOFR + 4.50%, Rate Floor: 4.50%) due 08/16/31   3,750,000    3,721,875
Xerox Corp.      
9.25% (1 Month Term SOFR + 4.00%, Rate Floor: 4.50%) due 11/17/29   3,461,250    3,430,964
Central Parent LLC      
8.58% (3 Month Term SOFR + 3.25%, Rate Floor: 3.25%) due 07/06/29   3,206,250    3,174,989
TSG Solutions Holding      
7.39% (3 Month EURIBOR + 3.75%, Rate Floor: 3.75%) due 03/30/29 EUR  2,800,000    3,100,460
isolved, Inc.      
8.75% (1 Month Term SOFR + 3.50%, Rate Floor: 3.50%) due 10/15/30   2,694,000    2,704,103
Project Ruby Ultimate Parent Corp.      
8.61% (1 Month Term SOFR + 3.25%, Rate Floor: 4.00%) due 03/10/28   2,225,250    2,224,048
8.86% (1 Month Term SOFR + 3.50%, Rate Floor: 3.50%) due 03/10/28   448,875    449,436
Planview Parent, Inc.      
9.08% (3 Month Term SOFR + 3.75%, Rate Floor: 3.75%) due 12/17/27   2,650,000    2,640,063
Indicor LLC      
8.58% (3 Month Term SOFR + 3.25%, Rate Floor: 3.75%) due 11/22/29   2,567,630    2,572,662
Epicor Software      
8.50% (1 Month Term SOFR + 3.25%, Rate Floor: 3.25%) due 05/30/31   2,156,135    2,163,401
Sitecore Holding III A/S      
13.30% (6 Month Term SOFR + 7.00%, Rate Floor: 7.50%) (in-kind rate was 0.75%) due 03/12/29†††,10   2,036,181    2,018,906
Aston FinCo SARL      
9.61% (1 Month Term SOFR + 4.25%, Rate Floor: 4.25%) due 10/09/26   1,623,500    1,529,337
9.72% (1 Month GBP SONIA + 4.75%, Rate Floor: 4.75%) due 10/09/26 GBP  387,055    469,328
Atlas CC Acquisition Corp.      
9.57% (3 Month Term SOFR + 4.25%, Rate Floor: 5.00%) due 05/25/28   2,476,439    1,877,661
Alteryx, Inc.      
11.75% (1 Month Term SOFR + 6.50%, Rate Floor: 7.25%) due 03/19/31†††   1,844,444    1,844,444
Azalea TopCo      
8.75% (1 Month Term SOFR + 3.50%, Rate Floor: 3.50%) due 04/30/31   1,750,000    1,744,383
Sitecore Holding III A/S      
10.80% (6 Month EURIBOR + 7.00%, Rate Floor: 7.00%) due 03/12/29 EUR  1,502,274    1,646,164
 
 

Guggenheim Strategic Opportunities Fund  
SCHEDULE OF INVESTMENTS (Unaudited) continued   August 31, 2024

 

 

  Face
Amount~		   Value
SENIOR FLOATING RATE INTERESTS††,◊ - 38.7% (continued)
Technology - 7.0% (continued)      
Dye & Durham Corp.      
9.68% (3 Month Term SOFR + 4.25%, Rate Floor: 5.25%) due 04/11/31   1,500,000    $1,503,750
Conair Holdings LLC      
9.11% (1 Month Term SOFR + 3.75%, Rate Floor: 4.25%) due 05/17/28   1,415,083    1,308,952
Azurite Intermediate Holdings, Inc.      
11.75% (1 Month Term SOFR + 6.50%, Rate Floor: 7.25%) due 03/19/31†††   1,268,056    1,268,056
CoreLogic, Inc.      
8.86% (1 Month Term SOFR + 3.50%, Rate Floor: 4.00%) due 06/02/28   1,248,446    1,231,279
VS Buyer LLC      
8.59% (1 Month Term SOFR + 3.25%, Rate Floor: 3.25%) due 04/12/31   1,125,000    1,125,000
Upland Software, Inc.      
9.10% (1 Month Term SOFR + 3.75%, Rate Floor: 3.75%) due 08/06/26   1,127,222    1,086,360
Waystar Technologies, Inc.      
8.00% (1 Month Term SOFR + 2.75%, Rate Floor: 2.75%) due 10/22/29   1,064,067    1,067,398
BEP Intermediate Holdco LLC      
9.00% (1 Month Term SOFR + 3.75%, Rate Floor: 3.75%) due 04/25/31†††   900,000    902,250
SUSE      
9.35% (1 Month SOFR + 4.00%, Rate Floor: 4.50%) due 11/09/30   498,750    501,558
Polaris Newco LLC      
9.51% (3 Month Term SOFR + 4.00%, Rate Floor: 4.50%) due 06/02/28   334,059    331,263
Total Technology      126,459,357
Financial - 5.2%      
Eisner Advisory Group      
9.25% (1 Month Term SOFR + 4.00%, Rate Floor: 4.50%) due 02/28/31   8,407,750    8,414,052
Higginbotham Insurance Agency, Inc.      
9.75% (1 Month Term SOFR + 4.50%, Rate Floor: 4.50%) due 11/24/28†††   8,061,421    7,996,629
10.00% (1 Month Term SOFR + 4.75%, Rate Floor: 5.75%) due 11/24/28†††   104,675    103,833
HighTower Holding LLC      
8.75% (3 Month Term SOFR + 3.50%, Rate Floor: 3.50%) due 04/21/28   7,976,693    7,986,664
Claudius Finance Parent SARL      
7.20% (3 Month EURIBOR + 3.50%, Rate Floor: 3.50%) due 07/10/28 EUR  4,650,000    5,129,033
Kestra Advisor Services Holdings A, Inc.      
9.06% (3 Month Term SOFR + 4.00%, Rate Floor: 4.00%) due 03/22/31   4,550,000    4,541,492
AqGen Island Holdings, Inc.      
8.86% (1 Month Term SOFR + 3.50%, Rate Floor: 4.00%) due 08/02/28   4,178,020    4,183,243
Howden Group Holdings Ltd.      
7.63% (1 Month EURIBOR + 4.00%, Rate Floor: 4.00%) due 02/15/31 EUR  3,750,000    4,152,402
Asurion LLC      
9.60% (1 Month Term SOFR + 4.25%, Rate Floor: 4.25%) due 08/19/28   3,906,936    3,881,111
Duff & Phelps      
9.08% (3 Month Term SOFR + 3.75%, Rate Floor: 4.75%) due 04/09/27   1,994,611    1,978,515
7.72% (3 Month EURIBOR + 4.00%, Rate Floor: 4.00%) due 04/09/27 EUR  1,731,959    1,885,300
Nexus Buyer LLC      
9.25% (3 Month Term SOFR + 4.00%, Rate Floor: 4.00%) due 07/31/31   3,622,721    3,587,254
Tegra118 Wealth Solutions, Inc.      
9.13% (3 Month Term SOFR + 4.00%, Rate Floor: 4.00%) due 02/18/27   3,730,570    3,555,718
Claros Mortgage Trust, Inc.      
9.85% (1 Month Term SOFR + 4.50%, Rate Floor: 5.00%) due 08/09/26   3,430,675    3,241,988
 
 

Guggenheim Strategic Opportunities Fund  
SCHEDULE OF INVESTMENTS (Unaudited) continued   August 31, 2024

 

 

  Face
Amount~		   Value
SENIOR FLOATING RATE INTERESTS††,◊ - 38.7% (continued)
Financial - 5.2% (continued)      
Aretec Group, Inc.      
9.25% (1 Month Term SOFR + 4.00%, Rate Floor: 4.00%) due 08/09/30   3,176,000    $3,105,683
Osaic Holdings, Inc.      
9.25% (1 Month Term SOFR + 4.00%, Rate Floor: 4.00%) due 08/17/28   2,949,500    2,920,329
Alter Domus      
8.82% (3 Month SOFR + 3.25%, Rate Floor: 4.00%) due 02/17/28   2,709,000    2,713,524
Cervantes Bidco S.L.U.      
due 06/13/31 EUR  2,400,000    2,659,182
Assetmark Financial Holdings, Inc.      
due 06/03/31   2,620,000    2,602,525
Cobham Ultra SeniorCo SARL      
9.24% (6 Month Term SOFR + 3.75%, Rate Floor: 4.25%) due 08/03/29   2,568,604    2,522,061
Franchise Group, Inc.      
10.39% (3 Month Term SOFR + 4.75%, Rate Floor: 5.50%) due 03/10/26   3,995,519    2,397,312
Apex Group Treasury LLC      
9.08% (6 Month Term SOFR + 4.00%, Rate Floor: 4.50%) due 07/27/28†††   2,019,250    2,031,870
9.24% (3 Month Term SOFR + 4.00%, Rate Floor: 4.00%) due 07/27/28†††   295,000    296,475
Navacord Inc.      
8.75% (3 Month Term SOFR + 3.50%, Rate Floor: 3.50%) due 03/15/30†††   1,840,750    1,845,545
OEG Borrower LLC      
8.83% (3 Month Term SOFR + 3.50%, Rate Floor: 3.50%) due 06/30/31   1,750,000    1,745,625
Ardonagh Midco 3 plc      
9.90% (6 Month Term SOFR + 4.75%, Rate Floor: 4.75%) due 02/16/31†††   1,616,867    1,594,350
8 Midco 3 plc      
due 02/17/31   1,550,000    1,557,750
Saphilux SARL      
8.56% (3 Month Term SOFR + 3.50%, Rate Floor: 4.00%) due 07/18/28   1,339,250    1,340,924
Sandy Bidco B.V.      
7.41% (6 Month EURIBOR + 3.60%, Rate Floor: 3.60%) due 08/17/29 EUR  1,100,000    1,210,693
Avison Young (Canada), Inc.      
13.60% (3 Month Term SOFR + 8.00%, Rate Floor: 10.00%) due 03/12/29   1,086,626    810,526
13.10% (3 Month Term SOFR + 7.50%, Rate Floor: 9.50%) due 03/13/28   367,626    365,482
Global Blue Acquisition B.V.      
7.76% (3 Month EURIBOR + 4.00%, Rate Floor: 4.00%) due 12/05/30 EUR  1,000,000    1,110,391
Total Financial      93,467,481
Communications - 1.0%      
FirstDigital Communications LLC      
11.75% (Commercial Prime Lending Rate + 3.25%, Rate Floor: 4.00%) due 12/17/26†††   7,940,000    7,760,749
Syndigo LLC      
9.86% (1 Month Term SOFR + 4.50%, Rate Floor: 5.25%) due 12/15/27   4,450,500    4,422,684
Simon & Schuster      
9.26% (3 Month Term SOFR + 4.00%, Rate Floor: 4.00%) due 10/30/30   2,493,750    2,498,438
Cengage Learning, Inc.      
9.54% (6 Month Term SOFR + 4.25%, Rate Floor: 5.25%) due 03/24/31   1,695,750    1,699,989
Xplornet Communications, Inc.      
9.57% (3 Month Term SOFR + 4.26%, Rate Floor: 4.76%) due 10/02/28   4,533,750    786,198
McGraw Hill LLC      
9.33% (3 Month Term SOFR + 4.00%, Rate Floor: 4.50%) due 07/28/28   675,220    675,700
9.23% (3 Month Term SOFR + 4.00%, Rate Floor: 4.50%) due 08/06/31   19,523    19,572
 
 

Guggenheim Strategic Opportunities Fund  
SCHEDULE OF INVESTMENTS (Unaudited) continued   August 31, 2024

 

 

  Face
Amount~		   Value
SENIOR FLOATING RATE INTERESTS††,◊ - 38.7% (continued)
Communications - 1.0% (continued)      
Titan AcquisitionCo New Zealand Ltd. (Trade Me)      
9.60% (3 Month Term SOFR + 4.00%, Rate Floor: 4.50%) due 10/18/28   439,875    $441,524
Total Communications      18,304,854
Basic Materials - 0.9%      
Illuminate Buyer LLC      
8.86% (1 Month Term SOFR + 3.50%, Rate Floor: 3.50%) due 12/31/29   3,291,750    3,299,979
Pregis TopCo Corp.      
9.25% (1 Month Term SOFR + 4.00%, Rate Floor: 4.00%) due 07/31/26   3,133,594    3,135,568
Vector WP Holdco, Inc.      
10.36% (1 Month Term SOFR + 5.00%, Rate Floor: 5.75%) due 10/12/28   3,037,125    3,006,754
Eden S.A.S.      
7.72% (3 Month EURIBOR + 4.00%, Rate Floor: 4.00%) due 06/22/29 EUR  2,100,000    2,331,636
Discovery Purchaser Corp.      
due 10/04/29   1,685,000    1,683,197
Arsenal AIC Parent LLC      
8.56% (1 Month Term SOFR + 3.25%, Rate Floor: 3.25%) due 08/18/30   893,261    894,378
NIC Acquisition Corp.      
9.35% (3 Month Term SOFR + 3.75%, Rate Floor: 4.50%) due 12/29/27   1,043,229    863,272
Pregis TopCo LLC      
9.36% (1 Month Term SOFR + 4.00%, Rate Floor: 4.50%) due 07/31/26   651,575    651,849
Schur Flexibles GmbH      
9.36% (6 Month EURIBOR + 5.50%, Rate Floor: 5.50%) due 09/28/27 EUR  312,500    202,092
Vantage Specialty Chemicals, Inc.      
9.87% (3 Month Term SOFR + 4.75%, Rate Floor: 5.25%) due 10/26/26   124,055    122,815
Total Basic Materials      16,191,540
Energy - 0.7%      
BANGL LLC      
9.82% (3 Month Term SOFR + 4.50%, Rate Floor: 4.50%) due 02/01/29   7,543,037    7,599,610
Par Petroleum LLC      
9.06% (3 Month Term SOFR + 3.75%, Rate Floor: 4.25%) due 02/28/30   3,851,250    3,868,581
Venture Global Calcasieu Pass LLC      
8.22% (1 Month Term SOFR + 2.88%, Rate Floor: 2.88%) due 08/19/26   794,212    794,212
AL GCX Holdings LLC      
8.08% (1 Month Term SOFR + 2.75%, Rate Floor: 3.25%) due 05/17/29   666,566    667,953
Permian Production Partners LLC      
13.36% (1 Month Term SOFR + 6.00%, Rate Floor: 7.00%) (in-kind rate was 2.00%) due 11/24/25†††,10   315,772    312,614
Total Energy      13,242,970
Utilities - 0.1%      
Franklin Energy (KAMC Holdings, Inc.)      
9.32% (3 Month Term SOFR + 4.00%, Rate Floor: 4.00%) due 08/14/26   1,571,625    1,548,051
Total Senior Floating Rate Interests    
(Cost $708,378,340)   695,824,373
ASSET-BACKED SECURITIES†† - 19.7%
Collateralized Loan Obligations -  8.6%      
Palmer Square Loan Funding Ltd.      
2022-1A D, 10.30% (3 Month Term SOFR + 5.00%, Rate Floor: 5.00%) due 04/15/30◊,6   8,750,000    8,759,866
2021-3A D, 10.54% (3 Month Term SOFR + 5.26%, Rate Floor: 5.26%) due 07/20/29◊,6   7,000,000    7,010,613
2024-3A CR, 8.30% (3 Month Term SOFR + 3.00%, Rate Floor: 3.00%) due 04/15/31◊,6   3,500,000    3,490,193
2021-2A D, 10.39% (3 Month Term SOFR + 5.26%, Rate Floor: 5.26%) due 05/20/29◊,6   2,000,000    2,002,929
Madison Park Funding LIII Ltd.      
2022-53A E, 11.28% (3 Month Term SOFR + 6.00%, Rate Floor: 6.00%) due 04/21/35◊,6   18,500,000    18,369,643
 
 

Guggenheim Strategic Opportunities Fund  
SCHEDULE OF INVESTMENTS (Unaudited) continued   August 31, 2024

 

  Face
Amount~		   Value