NPORT-EX 2 greenspring-iof.htm

Greenspring Income Opportunities Fund
  
Schedule of Investments
  
as of December 31, 2023 (Unaudited)
  
   
CORPORATE BONDS - 87.8%
  
Par
    
Value
  
COMMUNICATIONS - 4.5%
  
Cable & Satellite - 1.7%
  
CCO Holdings LLC
  
5.50%, 05/01/2026  (a)
  
$
600,000
    
$
596,379
  
5.13%, 05/01/2027  (a)
    
554,000
      
535,604
  
Videotron Ltd.,
   5.38%, 06/15/2024  (a)
    
2,674,000
      
2,662,408
  
             
3,794,391
  
                 
Media & Entertainment - 2.3%
  
Belo Corp.
   7.75%, 06/01/2027
    
920,000
      
932,643
  
Cinemark USA, Inc.
   8.75%, 05/01/2025  (a)
    
2,312,000
      
2,331,305
  
Nexstar Media, Inc.
   5.63%, 07/15/2027  (a)
    
1,734,000
      
1,678,141
  
TEGNA, Inc.
   4.63%, 03/15/2028
    
404,000
      
377,869
  
             
5,319,958
  
                 
Transportation - 0.5%
  
Uber Technologies, Inc.
   8.00%, 11/01/2026  (a)
    
1,078,000
      
1,098,747
  
                 
Wireless Telecommunication Services - 0.0%(b)
  
T-Mobile U.S., Inc.
   7.13%, 06/15/2024
    
100,000
      
100,501
  
Total COMMUNICATIONS
      
10,313,597
  
                 
CONSUMER DESCRETIONARY - 27.0%(c)
  
Auto Components - 2.2%
  
Adient Global Holdings Ltd.
   7.00%, 04/15/2028  (a)
    
1,600,000
      
1,654,819
  
Dana Financing Luxembourg
   5.75%, 04/15/2025  (a)
    
2,045,000
      
2,041,835
  
Dana, Inc.
   5.63%, 06/15/2028
    
100,000
      
98,683
  
Goodyear Tire & Rubber Co.
    9.50%, 05/31/2025
    
1,166,000
      
1,183,892
  
             
4,979,229
  
Automobiles - 0.8%
  
Jaguar Land Rover Automotive PLC
    7.75%, 10/15/2025  (a)
    
1,812,000
      
1,833,822
  
                 
Automobiles Wholesalers - 0.3%
  
Openlane, Inc.
    5.13%, 06/01/2025  (a)
    
648,000
      
639,401
  
                 
Building Products - 2.1%
  
Advanced Drainage Systems, Inc.
   5.00%, 09/30/2027  (a)
    
1,624,000
      
1,568,760
  
Griffon Corp.
   5.75%, 03/01/2028
    
1,378,000
      
1,355,656
  
JELD-WEN, Inc.
   4.63%, 12/15/2025  (a)
    
1,819,000
      
1,761,755
  
             
4,686,171
  
                 
Casinos & Gaming - 4.1%
  
Boyd Gaming Corp.
   4.75%, 12/01/2027
    
675,000
      
650,684
  
Caesars Entertainment, Inc.
   6.25%, 07/01/2025  (a)
    
2,173,000
      
2,180,549
  
International Game Technology PLC
   6.50%, 02/15/2025  (a)
    
1,500,000
      
1,502,493
  
Las Vegas Sands Corp.
   3.20%, 08/08/2024
    
2,763,000
      
2,711,089
  
MGM Resorts International
   6.75%, 05/01/2025
    
2,080,000
      
2,087,804
  
             
9,132,619
  
                 
Commercial Services & Supplies - 2.4%
  
Matthews International Corp.
   5.25%, 12/01/2025  (a)
    
2,256,000
      
2,199,965
  
Ritchie Bros Holdings, Inc.
   6.75%, 03/15/2028  (a)
    
1,432,000
      
1,476,138
  
Stericycle, Inc.
   5.38%, 07/15/2024  (a)
    
1,753,000
      
1,748,775
  
             
5,424,878
  
                 
Consumer Products - 1.0%
  
American Greetings Corp.
   8.75%, 04/15/2025  (a)
    
2,383,000
      
2,381,689
  
                 
Consumer Services - 1.5%
  
Graham Holdings Co.
   5.75%, 06/01/2026  (a)
    
1,910,000
      
1,900,067
  
Prime Security Services Borrower LLC
  
5.25%, 04/15/2024  (a)
    
246,000
      
244,630
  
6.25%, 01/15/2028  (a)
    
1,200,000
      
1,193,938
  
             
3,338,635
  
                 
Homebuilding - 0.7%
  
Beazer Homes USA, Inc.
   6.75%, 03/15/2025
    
1,000,000
      
998,570
  
Century Communities, Inc.
   6.75%, 06/01/2027
    
685,000
      
693,179
  
             
1,691,749
  
Household Durables - 0.7%
  
Newell Brands, Inc.
  
4.88%, 06/01/2025
    
950,000
      
935,152
  
5.20%, 04/01/2026
    
500,000
      
493,450
  
6.38%, 09/15/2027
    
250,000
      
248,992
  
             
1,677,594
  
                 
Leisure - 2.8%
  
Cedar Fair LP
  
5.50%, 05/01/2025  (a)
    
1,500,000
      
1,493,398
  
5.38%, 04/15/2027
    
750,000
      
735,052
  
6.50%, 10/01/2028
    
335,000
      
332,962
  
Life Time, Inc.
   5.75%, 01/15/2026  (a)
    
2,250,000
      
2,235,228
  
Six Flags Theme Parks, Inc.
   7.00%, 07/01/2025  (a)
    
750,000
      
753,968
  
Vail Resorts, Inc.
   6.25%, 05/15/2025  (a)
    
740,000
      
737,018
  
             
6,287,626
  
                 
Lodging - 2.3%
  
Arrow Bidco LLC
   10.75%, 06/15/2025  (a)
    
2,135,000
      
2,220,399
  
Hilton Domestic Operating Co., Inc.
   5.38%, 05/01/2025  (a)
    
375,000
      
374,849
  
Hilton Worldwide Finance LLC
   4.88%, 04/01/2027
    
125,000
      
123,212
  
Marriott Ownership Resorts, Inc.
   4.75%, 01/15/2028
    
137,000
      
125,967
  
Travel & Leisure Co.
  
5.65%, 04/01/2024
    
1,150,000
      
1,149,483
  
6.63%, 07/31/2026  (a)
    
1,300,000
      
1,312,605
  
             
5,306,515
  
                 
Restaurants - 2.2%
  
Brinker International, Inc.
   5.00%, 10/01/2024  (a)
    
1,887,000
      
1,872,338
  
Dave & Buster's, Inc.
   7.63%, 11/01/2025  (a)
    
2,245,000
      
2,275,420
  
New Red Finance, Inc.
   5.75%, 04/15/2025  (a)
    
1,000,000
      
997,361
  
                 
             
5,145,119
  
Retail - 3.9%
  
Academy Ltd.
   6.00%, 11/15/2027  (a)
    
2,000,000
      
1,966,383
  
NMG Holding Co., Inc.
   7.13%, 04/01/2026  (a)
    
1,600,000
      
1,538,803
  
Nordstrom, Inc.
   2.30%, 04/08/2024
    
1,544,000
      
1,528,298
  
Sally Holdings LLC
   5.63%, 12/01/2025
    
952,000
      
952,832
  
Signet UK Finance PLC
   4.70%, 06/15/2024
    
3,067,000
      
3,041,467
  
             
9,027,783
  
TOTAL CONSUMER DESCRETIONARY
      
61,552,830
  
                 
CONSUMER STAPLES - 3.1%
  
Food & Beverage - 0.2%
  
Darling Ingredients, Inc.
   5.25%, 04/15/2027  (a)
    
518,000
      
510,842
  
                 
Food & Staples Retailing - 0.7%
  
Albertsons Cos., Inc.
  
7.50%, 03/15/2026  (a)
    
700,000
      
713,442
  
5.88%, 02/15/2028  (a)
    
808,000
      
809,047
  
             
1,522,489
  
                 
Household & Personal Products - 2.2%
  
Coty, Inc.
  
5.00%, 04/15/2026  (a)
    
1,700,000
      
1,674,206
  
6.50%, 04/15/2026  (a)
    
1,558,000
      
1,557,270
  
Spectrum Brands, Inc.
   5.00%, 10/01/2029  (a)
    
1,980,000
      
1,891,367
  
             
5,122,843
  
TOTAL CONSUMER STAPLES
      
7,156,174
  
                 
ENERGY - 6.6%
  
Energy Equipment & Services - 0.9%
  
TechnipFMC PLC
   6.50%, 02/01/2026  (a)
    
2,000,000
      
1,995,773
  
                 
Energy Midstream - 4.0%
  
Antero Midstream Partners LP
   7.88%, 05/15/2026  (a)
    
1,450,000
      
1,487,419
  
EnLink Midstream Partners LP
   4.40%, 04/01/2024
    
2,563,000
      
2,545,763
  
New Fortress Energy, Inc.
   6.75%, 09/15/2025  (a)
    
1,200,000
      
1,191,386
  
NGL Energy Partners LP
   6.13%, 03/01/2025
    
2,152,000
      
2,149,371
  
Targa Resources Partners LP
   6.50%, 07/15/2027
    
1,432,000
      
1,451,797
  
             
8,825,736
  
Exploration & Production - 1.7%
  
Chesapeake Energy Corp.
   5.50%, 02/01/2026  (a)
    
1,044,000
      
1,035,897
  
PDC Energy, Inc.
   5.75%, 05/15/2026
    
263,000
      
262,664
  
Permian Resources Operating LLC
   5.38%, 01/15/2026  (a)
    
1,500,000
      
1,481,353
  
SM Energy Co.
   5.63%, 06/01/2025
    
1,010,000
      
999,056
  
             
3,778,970
  
TOTAL ENERGY
      
14,600,479
  
                 
FINANCIALS - 8.4%
  
Consumer Finance - 2.2%
  
Credit Acceptance Corp.
  
6.63%, 03/15/2026
    
1,136,000
      
1,134,583
  
9.25%, 12/15/2028  (a)
    
500,000
      
533,600
  
OneMain Finance Corp.
   6.88%, 03/15/2025
    
1,137,000
      
1,151,878
  
PRA Group, Inc.
   7.38%, 09/01/2025  (a)
    
2,255,000
      
2,243,907
  
             
5,063,968
  
                 
Investment Banking & Brokerage - 0.5%
  
StoneX Group, Inc.
   8.63%, 06/15/2025  (a)
    
1,128,000
      
1,144,627
  
                 
Mortgage REITs - 1.0%
  
Starwood Property Trust, Inc.
   3.75%, 12/31/2024  (a)
    
2,375,000
      
2,332,381
  
                 
Real Estate Investment Trusts - 2.7%
  
Iron Mountain, Inc.
   4.88%, 09/15/2027  (a)
    
1,913,000
      
1,867,922
  
MPT Operating Partnership LP
   5.25%, 08/01/2026
    
1,000,000
      
895,083
  
RHP Hotel Properties LP
   7.25%, 07/15/2028  (a)
    
1,250,000
      
1,300,389
  
SBA Communications Corp.
   3.88%, 02/15/2027
    
696,000
      
668,859
  
VICI Properties LP
   5.63%, 05/01/2024  (a)
    
1,378,000
      
1,374,377
  
             
6,106,630
  
                 
Specialty Insurance - 2.0%
  
Enact Holdings, Inc.
   6.50%, 08/15/2025  (a)
    
2,530,000
      
2,524,270
  
Radian Group, Inc.
   4.50%, 10/01/2024
    
2,091,000
      
2,065,835
  
             
4,590,105
  
TOTAL FINANCIALS
      
19,237,711
  
                 
HEALTH CARE - 5.3%
  
Healthcare Equipment & Supplies - 1.2%
  
Owens & Minor, Inc.
   4.38%, 12/15/2024
    
2,253,000
      
2,216,523
  
Teleflex, Inc.
   4.63%, 11/15/2027
    
550,000
      
535,171
  
             
2,751,694
  
Healthcare Providers & Services - 3.1%
  
Acadia Healthcare Co., Inc.
   5.50%, 07/01/2028  (a)
    
1,660,000
      
1,636,799
  
AdaptHealth LLC
   6.13%, 08/01/2028  (a)
    
1,897,000
      
1,639,321
  
Encompass Health Corp.
   5.75%, 09/15/2025
    
1,409,000
      
1,404,672
  
Select Medical Corp.
   6.25%, 08/15/2026  (a)
    
1,594,000
      
1,602,997
  
Tenet Healthcare Corp.
   4.88%, 01/01/2026
    
839,000
      
830,138
  
             
7,113,927
  
                 
Life Sciences Tools & Services - 1.0%
  
Avantor Funding, Inc.
   4.63%, 07/15/2028  (a)
    
1,000,000
      
967,211
  
IQVIA, Inc.
   5.00%, 10/15/2026  (a)
    
1,395,000
      
1,382,607
  
             
2,349,818
  
TOTAL HEALTH CARE
      
12,215,439
  
                 
INDUSTRIALS - 14.4%
  
Aerospace & Defense - 2.1%
  
Rolls-Royce PLC
   3.63%, 10/14/2025  (a)
    
1,477,000
      
1,424,197
  
TransDigm, Inc.
  
6.25%, 03/15/2026  (a)
    
1,888,000
      
1,886,654
  
7.50%, 03/15/2027
    
1,564,000
      
1,572,901
  
             
4,883,752
  
                 
Chemicals - 0.1%
  
Scotts Miracle-Gro Co.
   5.25%, 12/15/2026
    
250,000
      
241,331
  
                 
Engineering & Construction - 2.6%
  
IEA Energy Services LLC
  6.63%, 08/15/2029  (a)
    
1,120,000
      
1,045,762
  
Picasso Finance Sub., Inc.
   6.13%, 06/15/2025  (a)
    
2,800,000
      
2,808,484
  
Pike Corp.
   5.50%, 09/01/2028  (a)
    
2,200,000
      
2,098,602
  
             
5,952,848
  
                 
Environmental Services - 1.9%
  
Burford Capital Global Finance LLC
   6.25%, 04/15/2028  (a)
    
2,114,000
      
2,031,508
  
Clean Harbors, Inc.
   4.88%, 07/15/2027  (a)
    
900,000
      
882,785
  
GFL Environmental, Inc.
  
4.25%, 06/01/2025  (a)
    
750,000
      
739,386
  
5.13%, 12/15/2026  (a)
    
750,000
      
742,573
  
             
4,396,252
  
Machinery - 3.0%
  
Enpro, Inc.
   5.75%, 10/15/2026
    
2,200,000
      
2,179,765
  
Gates Global LLC
   6.25%, 01/15/2026  (a)
    
2,190,000
      
2,181,437
  
Hillenbrand, Inc.
   5.75%, 06/15/2025
    
697,000
      
696,829
  
Trinity Industries, Inc.
   4.55%, 10/01/2024
    
1,748,000
      
1,723,834
  
             
6,781,865
  
                 
Metals & Mining - 0.5%
  
GrafTech Global Enterprises, Inc.
   9.88%, 12/15/2028  (a)
    
1,500,000
      
1,158,750
  
                 
Trading Companies & Distributors - 3.6%
  
Herc Holdings, Inc.
   5.50%, 07/15/2027  (a)
    
1,639,000
      
1,619,614
  
Triton Container International Ltd.
   1.15%, 06/07/2024  (a)
    
3,376,000
      
3,294,830
  
WESCO Distribution, Inc.
  
7.13%, 06/15/2025  (a)
    
2,764,000
      
2,786,228
  
7.25%, 06/15/2028  (a)
    
650,000
      
668,551
  
             
8,369,223
  
                 
Transportation - 0.6%
  
XPO Escrow Sub LLC
   7.50%, 11/15/2027  (a)
    
350,000
      
361,491
  
XPO, Inc.
   6.25%, 06/01/2028  (a)
    
1,000,000
      
1,013,885
  
             
1,375,376
  
TOTAL INDUSTRIALS
      
33,159,397
  
                 
MATERIALS - 9.0%
  
Chemicals - 4.0%
  
Avient Corp.
   5.75%, 05/15/2025  (a)
    
2,315,000
      
2,317,406
  
Axalta Coating Systems LLC
   4.75%, 06/15/2027  (a)
    
1,300,000
      
1,264,559
  
Celanese US Holdings LLC
   5.90%, 07/05/2024
    
1,000,000
      
1,000,310
  
HB Fuller Co.
   4.25%, 10/15/2028
    
1,347,000
      
1,261,039
  
Methanex Corp.
   4.25%, 12/01/2024
    
2,148,000
      
2,114,447
  
Minerals Technologies, Inc.
   5.00%, 07/01/2028  (a)
    
1,356,000
      
1,305,340
  
             
9,263,101
  
                 
Construction Materials - 1.0%
  
Summit Materials LLC
   6.50%, 03/15/2027  (a)
    
2,347,000
      
2,349,966
  
                 
Metals & Mining - 1.2%
  
Allegheny Ludlum LLC
   6.95%, 12/15/2025
    
1,077,000
      
1,091,513
  
Cleveland-Cliffs, Inc.
  
6.75%, 03/15/2026  (a)
    
1,086,000
      
1,091,368
  
5.88%, 06/01/2027
    
500,000
      
498,786
  
             
2,681,667
  
Packaging & Containers - 2.8%
  
Berry Global, Inc.
  
4.50%, 02/15/2026  (a)
    
785,000
      
765,622
  
4.88%, 07/15/2026  (a)
    
677,000
      
665,715
  
Crown Americas LLC
   4.75%, 02/01/2026
    
350,000
      
346,896
  
Crown Cork & Seal Co., Inc.
   7.38%, 12/15/2026
    
500,000
      
525,498
  
Graphic Packaging International LLC
   4.13%, 08/15/2024
    
450,000
      
444,180
  
Mauser Packaging Solutions Holding Co.
   7.88%, 08/15/2026  (a)
    
1,780,000
      
1,813,073
  
Pactiv Evergreen Group Issuer, Inc.
   4.00%, 10/15/2027  (a)
    
250,000
      
233,906
  
Pactiv LLC
   7.95%, 12/15/2025
    
1,515,000
      
1,538,854
  
             
6,333,744
  
TOTAL MATERIALS
      
20,628,478
  
                 
TECHNOLOGY - 7.1%
  
Information Technology Services - 0.8%
  
KBR, Inc., 4.75%, 09/30/2028  (a)
    
1,865,000
      
1,736,133
  
                 
Professional Services - 0.9%
  
Camelot Finance SA, 4.50%, 11/01/2026  (a)
    
2,000,000
      
1,954,090
  
                 
Semiconductors - 1.0%
  
Qorvo, Inc., 1.75%, 12/15/2024
    
2,427,000
      
2,330,110
  
                 
Software & Services - 3.7%
  
ACI Worldwide, Inc.
   5.75%, 08/15/2026  (a)
    
2,456,000
      
2,441,719
  
Consensus Cloud Solutions, Inc.
   6.00%, 10/15/2026  (a)
    
1,499,000
      
1,426,763
  
Gen Digital, Inc.
  
5.00%, 04/15/2025  (a)
    
989,000
      
979,995
  
6.75%, 09/30/2027  (a)
    
1,260,000
      
1,282,622
  
Open Text Corp.
   3.88%, 02/15/2028  (a)
    
1,850,000
      
1,720,199
  
PTC, Inc.
   3.63%, 02/15/2025  (a)
    
500,000
      
489,222
  
             
8,340,520
  
Technology Hardware & Equipment - 0.7%
  
Arrow Electronics, Inc., 6.13%, 03/01/2026
    
1,287,000
      
1,288,634
  
CDW LLC
  
4.13%, 05/01/2025
    
253,000
      
248,249
  
4.25%, 04/01/2028
    
125,000
      
119,819
  
             
1,656,702
  
TOTAL TECHNOLOGY
      
16,017,555
  
                 
UTILITIES - 2.4%
  
Utilities - 2.4%
  
NextEra Energy Operating Partners LP
   4.25%, 07/15/2024  (a)
    
981,000
      
970,510
  
NRG Energy, Inc., 6.63%, 01/15/2027
    
1,797,000
      
1,802,123
  
Vistra Operations Co. LLC
  
3.55%, 07/15/2024  (a)
    
1,330,000
      
1,311,620
  
5.50%, 09/01/2026  (a)
    
752,000
      
742,909
  
5.63%, 02/15/2027  (a)
    
750,000
      
740,264
  
             
5,567,426
  
TOTAL UTILITIES
      
5,567,426
  
TOTAL CORPORATE BONDS (Cost $199,022,071)
      
200,449,086
  
                 
CONVERTIBLE BONDS - 1.2%
  
Par
    
Value
  
CONSUMER STAPLES - 0.4%
  
Household & Personal Products - 0.4%
  
Herbalife Ltd.
   2.63%, 03/15/2024
    
974,000
      
963,286
  
                 
HEALTH CARE - 0.2%
  
Healthcare Equipment & Supplies - 0.2%
  
Haemonetics Corp.
   0.00%, 03/01/2026  (c)
    
510,000
      
456,450
  
                 
UTILITIES - 0.6%
  
Utilities - 0.6%
  
NextEra Energy Partners LP
  
0.00%, 06/15/2024  (a)(c)
    
1,000,000
      
969,500
  
0.00%, 11/15/2025  (a)(c)
    
500,000
      
439,250
  
             
1,408,750
  
TOTAL CONVERTIBLE BONDS (Cost $2,820,540)
      
2,828,486
  
                 
SHORT-TERM INVESTMENTS - 9.4%
                
Money Market Funds - 9.4%
  
Shares
          
First American Government Obligations Fund - Class X, 5.25%(d)
    
1,442,686
      
1,442,686
  
First American Treasury Obligations Fund - Class X, 5.28%(d)
    
10,035,397
      
10,035,397
  
Invesco Treasury Portfolio - Class Institutional, 5.28%(d)
    
10,035,397
      
10,035,397
  
TOTAL SHORT-TERM INVESTMENTS (Cost $21,513,480)
      
21,513,480
  
                 
TOTAL INVESTMENTS - 98.4% (Cost $223,356,091)
    
$
224,791,052
  
Other Assets in Excess of Liabilities - 1.6%
      
3,655,112
  
TOTAL NET ASSETS - 100.0%
          
$
228,446,164
  
               
Percentages are stated as a percent of net assets.
          

PLC - Public Limited Company

(a)
Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors.
As of December 31, 2023, the value of these securities total $141,663,889 or 62.0% of the Fund’s net assets.
(b)
Represents less than 0.05% of net assets.
(c)
Zero coupon bonds make no periodic interest payments but are issued at a discount from par value.
(d)
The rate shown represents the 7-day effective yield as of December 31, 2023.


Summary of Fair Value Measurements at December 31, 2023 (Unaudited)
  
 
 
 
 
      
     
    The Fund has adopted fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value.  These standards require additional
disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and
expanded disclosure of valuation levels for major security types.  These inputs are summarized in the three broad levels listed below:
    
 
 
 
 
 
 
 
 
 
      
    Level 1 -
Unadjusted, quoted prices in active markets for identical assets or liabilities that the Fund
has the ability to access at the date of measurement.
      
    Level 2 -
Other significant observable inputs (including, but not limited to, quoted prices in active markets for
similar instruments, quoted prices in markets that are not active for identical or similar instruments
      
 
model-derived valuations in which all
      
 
significant inputs and significant value drivers are observable in active markets, such as interest rates,
prepayment speeds, credit risk curves, default rates, and similar data).
      
    Level 3 -
Significant unobservable inputs for the asset or liability, to the extent relevant observable inputs,
are not available, are representing the Fund's own assumptions about the assumptions a market
  
 
participant would use in valuing the asset or liability, and would be based on the best information
available.
  
 
 
 
 
 
 
 
 
 
      
The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.  The following is a summary of the fair valuation hierarchy of the Fund's
securities as of December 31, 2023:
      

Greenspring Income Opportunities Fund
  
   
Level 1
    
Level 2
    
Level 3
    
Total
  
Investments:
                        
  Corporate Bonds
  
$
–
    
$
200,449,086
    
$
–
    
$
200,449,086
  
  Convertible Bonds
    
–
      
2,828,486
      
–
      
2,828,486
  
  Money Market Funds
    
21,513,480
      
–
      
–
      
21,513,480
  
Total Investments
  
$
21,513,480
    
$
203,277,572
    
$
–
    
$
224,791,052
  
                                 
   
Refer to the Schedule of Investments for industry classifications.