Issuer
|
|
| Shares/Par
| Value ($)
|
Bonds – 97.8%
|
Aerospace & Defense – 1.4%
|
Boeing Co., 1.433%, 2/04/2024
|
| $
| 2,269,000
| $2,216,886
|
Huntington Ingalls Industries, Inc., 3.844%, 5/01/2025
|
|
| 2,486,000
| 2,403,734
|
|
|
|
| $4,620,620
|
Asset-Backed & Securitized – 4.1%
|
3650R Commercial Mortgage Trust, 2021-PF1, “XA”, 1.022%, 11/15/2054 (i)
|
| $
| 10,424,207
| $538,785
|
ACREC 2021-FL1 Ltd., “AS”, FLR, 6.844% ((SOFR - 1mo. + 0.11448%) + 1.5%), 10/16/2036 (n)
|
|
| 1,087,000
| 1,051,740
|
Arbor Realty Trust, Inc., CLO, 2021-FL3, “AS”, FLR, 6.736% ((SOFR - 1mo. + 0.11448%) + 1.4%), 8/15/2034 (n)
|
|
| 1,112,500
| 1,076,056
|
AREIT 2022-CRE6 Trust, “AS”, FLR, 6.718% (SOFR - 30 day + 1.65%), 1/20/2037 (n)
|
|
| 1,522,500
| 1,464,079
|
BDS 2021-FL9 Ltd., “A”, FLR, 6.414% ((SOFR - 1mo. + 0.11448%) + 1.07%), 11/16/2038 (n)
|
|
| 958,000
| 930,159
|
Brazos Securitization LLC, 5.014%, 9/01/2031 (n)
|
|
| 800,000
| 785,802
|
BSPDF 2021-FL1 Issuer Ltd., “A”, FLR, 6.536% ((SOFR - 1mo. + 0.11448%) + 1.2%), 10/15/2036 (n)
|
|
| 599,000
| 583,299
|
BSPDF 2021-FL1 Issuer Ltd., “AS”, FLR, 6.816% ((SOFR - 1mo. + 0.11448%) + 1.48%), 10/15/2036 (n)
|
|
| 774,500
| 726,607
|
BXMT 2021-FL4 Ltd., “AS”, FLR, 6.636% ((SOFR - 1mo. + 0.11448%) + 1.3%), 5/15/2038 (n)
|
|
| 2,000,000
| 1,787,630
|
Commercial Mortgage Trust, 2017-COR2, “A3”, 3.51%, 9/10/2050
|
|
| 1,676,352
| 1,534,607
|
Dell Equipment Finance Trust 2023-1, “A2”, 5.65%, 9/22/2028 (n)
|
|
| 765,000
| 760,946
|
LoanCore 2021-CRE6 Ltd., “AS”, FLR, 6.986% ((SOFR - 1mo. + 0.11448%) + 1.65%), 11/15/2038 (n)
|
|
| 1,500,000
| 1,429,596
|
ReadyCap Commercial Mortgage Trust, 2021-FL7, “A”, FLR, 6.612% ((SOFR - 1mo. + 0.11448%) + 1.2%), 11/25/2036 (n)
|
|
| 578,704
| 569,838
|
ReadyCap Commercial Mortgage Trust, 2021-FL7, “AS”, FLR, 6.912% ((SOFR - 1mo. + 0.11448%) + 1.5%), 11/25/2036 (n)
|
|
| 199,500
| 195,438
|
Shackleton 2015-8A CLO Ltd., “A1R”, FLR, 6.507% ((SOFR - 3mo. + 0.26161%) + 0.92%), 10/20/2027 (n)
|
|
| 362,071
| 361,711
|
|
|
|
| $13,796,293
|
Automotive – 3.0%
|
Hyundai Capital America, 5.875%, 4/07/2025 (n)
|
| $
| 2,094,000
| $2,098,482
|
Hyundai Capital America, 1.65%, 9/17/2026 (n)
|
|
| 1,000,000
| 886,858
|
LKQ Corp., 5.75%, 6/15/2028 (n)
|
|
| 862,000
| 857,296
|
LKQ Corp., 6.25%, 6/15/2033 (n)
|
|
| 1,176,000
| 1,183,673
|
Stellantis Finance US, Inc., 1.711%, 1/29/2027 (n)
|
|
| 762,000
| 669,392
|
Stellantis N.V., 2.691%, 9/15/2031 (n)
|
|
| 532,000
| 425,164
|
Volkswagen Group of America Finance LLC, 2.85%, 9/26/2024 (n)
|
|
| 1,765,000
| 1,705,703
|
Volkswagen Group of America Finance LLC, 1.625%, 11/24/2027 (n)
|
|
| 1,500,000
| 1,291,480
|
Volkswagen Group of America Finance LLC, 3.75%, 5/13/2030 (n)
|
|
| 1,000,000
| 908,892
|
|
|
|
| $10,026,940
|
Broadcasting – 0.9%
|
WarnerMedia Holdings, Inc., 6.412%, 3/15/2026
|
| $
| 683,000
| $684,155
|
WarnerMedia Holdings, Inc., 4.279%, 3/15/2032
|
|
| 2,524,000
| 2,238,648
|
|
|
|
| $2,922,803
|
Brokerage & Asset Managers – 2.2%
|
Brookfield Finance, Inc., 2.724%, 4/15/2031
|
| $
| 2,844,000
| $2,348,035
|
Charles Schwab Corp., 5.643% to 5/19/2028, FLR (SOFR - 1 day + 2.210%) to 5/19/2029
|
|
| 1,535,000
| 1,548,429
|
Low Income Investment Fund, 3.386%, 7/01/2026
|
|
| 705,000
| 658,547
|
Low Income Investment Fund, 3.711%, 7/01/2029
|
|
| 1,905,000
| 1,704,257
|
National Securities Clearing Corp., 1.5%, 4/23/2025 (n)
|
|
| 1,117,000
| 1,046,719
|
|
|
|
| $7,305,987
|
Business Services – 1.1%
|
Tencent Holdings Ltd., 2.88%, 4/22/2031 (n)
|
| $
| 1,499,000
| $1,269,089
|
Verisk Analytics, Inc., 4.125%, 3/15/2029
|
|
| 716,000
| 688,959
|
Verisk Analytics, Inc., 5.75%, 4/01/2033
|
|
| 850,000
| 878,949
|
Western Union Co., 1.35%, 3/15/2026
|
|
| 1,105,000
| 987,348
|
|
|
|
| $3,824,345
|
Cable TV – 0.4%
|
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., 4.908%, 7/23/2025
|
| $
| 1,350,000
| $1,326,122
|