NPORT-EX 2 bbb.htm

Eldridge BBB-B CLO ETF
  
Schedule of Investments
  
November 30, 2025 (Unaudited)
  
   
COLLATERALIZED LOAN OBLIGATIONS - 93.6%(a)(b)
  
Par
    
Value
 
Bermuda - 0.9%
  
OHA Credit Funding, Series 2022-13A, Class D1R, 6.68% (3 mo. Term SOFR + 2.80%), 07/20/2037
  
$
3,000,000
    
$
3,014,358
  
Rad CLO, Series 2024-25A, Class D2, 8.33% (3 mo. Term SOFR + 4.45%), 07/20/2037
    
1,500,000
      
1,509,162
  
RR Ltd., Series 2022-20A, Class DR, 8.40% (3 mo. Term SOFR + 4.50%), 07/15/2037
    
2,500,000
      
2,447,627
  
             
6,971,147
  
                 
Cayman Islands - 82.3%(c)
  
AGL CLO Ltd.
  
Series 2021-10A, Class E, 10.17% (3 mo. Term SOFR + 6.26%), 04/15/2034
    
1,250,000
      
1,206,172
  
Series 2022-17A, Class DR, 6.32% (3 mo. Term SOFR + 2.45%), 01/21/2035
    
1,500,000
      
1,494,198
  
Series 2023-25A, Class D1R, 6.77% (3 mo. Term SOFR + 2.90%), 07/21/2038
    
6,000,000
      
6,006,624
  
Aimco CLO
  
Series 2021-14A, Class E1R, 8.72% (3 mo. Term SOFR + 4.80%), 10/20/2038
    
2,000,000
      
2,001,434
  
Series 2021-16A, Class ER, 9.48% (3 mo. Term SOFR + 5.60%), 07/17/2037
    
3,500,000
      
3,536,379
  
Series 2025-23A, Class D1, 6.28% (3 mo. Term SOFR + 2.40%), 04/20/2038
    
4,000,000
      
4,004,924
  
Apidos CLO
  
Series 2021-36A, Class D, 7.05% (3 mo. Term SOFR + 3.16%), 07/20/2034
    
1,000,000
      
1,003,625
  
Series 2021-36A, Class E, 10.10% (3 mo. Term SOFR + 6.21%), 07/20/2034
    
4,500,000
      
4,527,850
  
Series 2021-37A, Class D, 7.17% (3 mo. Term SOFR + 3.31%), 10/22/2034
    
2,000,000
      
2,007,478
  
Series 2024-1A, Class D1R, 6.83% (3 mo. Term SOFR + 2.70%), 10/25/2038
    
4,000,000
      
4,015,724
  
ARES CLO
  
Series 2013-2A, Class DR3, 6.86% (3 mo. Term SOFR + 3.00%), 10/28/2034
    
3,000,000
      
2,991,144
  
Series 2016-39A, Class ER3, 10.63% (3 mo. Term SOFR + 6.75%), 07/18/2037
    
5,000,000
      
5,059,020
  
Series 2017-43A, Class D1R2, 6.91% (3 mo. Term SOFR + 3.00%), 01/15/2038
    
3,500,000
      
3,505,089
  
Series 2019-54A, Class D1R2, 6.81% (3 mo. Term SOFR + 2.90%), 07/15/2038
    
5,000,000
      
5,027,880
  
Series 2021-61A, Class DR, 7.78% (3 mo. Term SOFR + 3.90%), 04/20/2037
    
2,900,000
      
2,917,844
  
Series 2022-63A, Class D1R, 7.28% (3 mo. Term SOFR + 3.00%), 10/15/2038
    
5,000,000
      
5,002,990
  
Series 2022-64A, Class ER, 10.41% (3 mo. Term SOFR + 6.50%), 10/24/2039
    
4,000,000
      
4,029,888
  
Series 2022-ALF2A, Class D1R2, 7.03% (3 mo. Term SOFR + 2.85%), 10/20/2038
    
5,000,000
      
5,008,255
  
Babson CLO Ltd.
  
Series 2019-2A, Class D1RR, 6.81% (3 mo. Term SOFR + 2.90%), 01/15/2038
    
7,500,000
      
7,520,872
  
Series 2019-3A, Class D1RR, 6.73% (3 mo. Term SOFR + 2.85%), 01/20/2036
    
1,000,000
      
1,001,967
  
Series 2020-1A, Class ER2, 9.41% (3 mo. Term SOFR + 5.50%), 01/15/2038
    
2,000,000
      
1,959,142
  
Series 2021-1A, Class D, 7.02% (3 mo. Term SOFR + 3.16%), 04/25/2034
    
1,000,000
      
1,001,098
  
Series 2023-2A, Class D1R, 6.66% (3 mo. Term SOFR + 2.70%), 10/20/2038
    
4,000,000
      
4,024,616
  
Bain Capital Credit CLO
  
Series 2017-2A, Class ER3, 11.20% (3 mo. Term SOFR + 7.34%), 07/25/2037
    
4,000,000
      
3,959,352
  
Series 2019-1A, Class DR2, 6.98% (3 mo. Term SOFR + 3.10%), 04/19/2034
    
3,060,000
      
3,029,813
  
Series 2019-3A, Class DRR, 6.67% (3 mo. Term SOFR + 2.80%), 10/21/2034
    
5,000,000
      
4,977,325
  
Series 2024-4A, Class D1, 6.96% (3 mo. Term SOFR + 3.10%), 10/23/2037
    
4,375,000
      
4,408,902
  
Ballyrock CLO Ltd.
  
Series 2021-18A, Class C1R, 6.76% (3 mo. Term SOFR + 2.85%), 04/15/2038
    
4,100,000
      
4,108,097
  
Series 2021-1A, Class D1R, 6.76% (3 mo. Term SOFR + 2.85%), 01/15/2038
    
4,000,000
      
4,015,948
  
Series 2021-1A, Class ER, 9.16% (3 mo. Term SOFR + 5.25%), 01/15/2038
    
5,000,000
      
4,812,990
  
Series 2023-25A, Class C1R, 6.46% (3 mo. Term SOFR + 2.60%), 01/25/2038
    
3,000,000
      
3,006,486
  
Benefit Street Partners CLO Ltd.
  
Series 2018-14A, Class D1R, 7.13% (3 mo. Term SOFR + 3.25%), 10/20/2037
    
1,750,000
      
1,763,309
  
Series 2020-20A, Class D1RR, 6.61% (3 mo. Term SOFR + 2.70%), 10/15/2038
    
1,500,000
      
1,508,939
  
Series 2021-23A, Class DR, 6.76% (3 mo. Term SOFR + 2.90%), 04/25/2034
    
4,500,000
      
4,524,399
  
Series 2022-26A, Class D1R, 6.88% (3 mo. Term SOFR + 3.00%), 07/20/2037
    
8,250,000
      
8,283,627
  
Series 2025-43A, Class D1, 6.57% (3 mo. Term SOFR + 2.65%), 10/20/2038
    
1,000,000
      
1,006,377
  
Bethpage Park CLO Ltd., Series 2021-1A, Class D, 7.12% (3 mo. Term SOFR + 3.21%), 10/15/2036
    
2,000,000
      
1,987,890
  
Birch Grove CLO
  
Series 2021-2A, Class ER, 10.63% (3 mo. Term SOFR + 6.75%), 10/19/2037
    
2,000,000
      
2,005,032
  
Series 2022-4A, Class D1R, 7.11% (3 mo. Term SOFR + 3.20%), 07/15/2037
    
1,700,000
      
1,704,820
  
Series 2024-11A, Class D1, 6.96% (3 mo. Term SOFR + 3.10%), 01/22/2038
    
7,500,000
      
7,543,312
  
Blackstone, Inc., Series 2017-1A, Class DR, 10.40% (3 mo. Term SOFR + 6.51%), 04/20/2034
    
2,000,000
      
1,982,800
  
Carlyle Global Market Strategies
  
Series 2017-3A, Class ER2, 11.37% (3 mo. Term SOFR + 7.50%), 10/21/2037
    
7,325,000
      
7,500,668
  
Series 2019-1A, Class CR2, 6.48% (3 mo. Term SOFR + 2.60%), 04/20/2031
    
1,500,000
      
1,503,047
  
Series 2021-10A, Class D1R, 6.73% (3 mo. Term SOFR + 2.85%), 01/20/2038
    
6,000,000
      
6,019,176
  
Series 2021-11A, Class D1R, 6.91% (3 mo. Term SOFR + 3.05%), 07/25/2037
    
2,500,000
      
2,516,617
  
Series 2021-2A, Class ER, 8.78% (3 mo. Term SOFR + 4.90%), 04/20/2038
    
2,750,000
      
2,730,915
  
Series 2021-4A, Class E, 10.75% (3 mo. Term SOFR + 6.86%), 04/20/2034
    
1,000,000
      
1,006,123
  
Series 2021-5A, Class ER, 9.78% (3 mo. Term SOFR + 5.90%), 03/31/2038
    
1,500,000
      
1,508,235
  
Series 2021-6A, Class ER, 9.91% (3 mo. Term SOFR + 6.00%), 01/15/2038
    
5,000,000
      
5,015,230
  
Series 2022-3A, Class D1R, 7.73% (3 mo. Term SOFR + 3.85%), 04/20/2037
    
3,000,000
      
3,018,453
  
Series 2022-5A, Class ER, 11.01% (3 mo. Term SOFR + 7.10%), 10/15/2037
    
2,400,000
      
2,439,953
  
Series 2023-1A, Class ER, 9.63% (3 mo. Term SOFR + 5.75%), 07/20/2037
    
1,000,000
      
1,009,066
  
Series 2023-4A, Class D1R, 6.56% (3 mo. Term SOFR + 2.70%), 10/25/2038
    
3,000,000
      
3,010,779
  
Series 2024-1A, Class D, 7.81% (3 mo. Term SOFR + 3.90%), 04/15/2037
    
4,950,000
      
4,980,829
  
Series 2024-7A, Class E, 9.41% (3 mo. Term SOFR + 5.50%), 01/15/2037
    
3,000,000
      
3,030,213
  
Cayuga Park CLO, Series 2020-1A, Class DR2, 6.67% (3 mo. Term SOFR + 2.75%), 10/17/2038
    
3,000,000
      
3,003,000
  
CIFC Funding Ltd.
  
Series 2014-2RA, Class ER, 11.11% (3 mo. Term SOFR + 7.24%), 10/24/2037
    
7,000,000
      
6,943,510
  
Series 2014-3A, Class ER, 9.16% (3 mo. Term SOFR + 5.25%), 03/31/2038
    
6,000,000
      
6,023,340
  
Series 2014-5A, Class ER3, 11.38% (3 mo. Term SOFR + 7.50%), 07/17/2037
    
3,500,000
      
3,554,404
  
Series 2017-3A, Class ER, 10.58% (3 mo. Term SOFR + 6.70%), 04/20/2037
    
1,650,000
      
1,661,321
  
Series 2019-1A, Class D1R2, 6.93% (3 mo. Term SOFR + 3.05%), 10/20/2037
    
5,000,000
      
5,040,870
  
Series 2019-3A, Class D1R2, 6.64% (3 mo. Term SOFR + 2.75%), 01/16/2038
    
2,480,000
      
2,487,596
  
Series 2019-5A, Class D1R2, 6.79% (3 mo. Term SOFR + 2.70%), 10/15/2038
    
7,000,000
      
7,030,184
  
Series 2020-1A, Class ER, 10.42% (3 mo. Term SOFR + 6.51%), 07/15/2036
    
2,000,000
      
2,013,210
  
Series 2020-4A, Class DR, 6.71% (3 mo. Term SOFR + 2.80%), 01/15/2040
    
500,000
      
501,534
  
Series 2021-1A, Class D1R, 7.01% (3 mo. Term SOFR + 3.15%), 07/25/2037
    
710,000
      
715,023
  
Series 2021-5A, Class D1R, 6.66% (3 mo. Term SOFR + 2.75%), 01/15/2038
    
4,000,000
      
4,010,544
  
Series 2021-6A, Class D, 7.27% (3 mo. Term SOFR + 3.36%), 10/15/2034
    
2,000,000
      
2,006,216
  
Series 2022-2A, Class DR, 6.43% (3 mo. Term SOFR + 2.55%), 04/19/2035
    
3,000,000
      
3,003,072
  
                 
Elmwood CLO Ltd.
  
Series 2020-3A, Class D1RR, 6.98% (3 mo. Term SOFR + 3.10%), 07/18/2037
    
4,250,000
      
4,249,783
  
Series 2020-4A, Class D1RR, 6.98% (3 mo. Term SOFR + 3.10%), 10/17/2037
    
3,490,000
      
3,489,651
  
Series 2021-2A, Class D1R, 6.53% (3 mo. Term SOFR + 2.65%), 04/20/2038
    
2,500,000
      
2,508,340
  
Series 2021-3A, Class DR2, 6.93% (3 mo. Term SOFR + 3.05%), 07/20/2038
    
4,000,000
      
4,012,884
  
Series 2021-3A, Class ER2, 9.83% (3 mo. Term SOFR + 5.95%), 07/20/2038
    
6,000,000
      
6,056,406
  
Series 2021-4A, Class D1R, 6.58% (3 mo. Term SOFR + 2.70%), 01/20/2038
    
3,500,000
      
3,519,282
  
Series 2022-3A, Class DR, 7.68% (3 mo. Term SOFR + 3.80%), 04/20/2037
    
1,000,000
      
1,007,198
  
Series 2022-5A, Class ERR, 9.68% (3 mo. Term SOFR + 5.80%), 07/17/2037
    
4,000,000
      
3,935,324
  
Series 2022-6A, Class D1R2, 6.61% (3 mo. Term SOFR + 2.70%), 10/17/2038
    
5,000,000
      
5,022,425
  
Series 2023-1A, Class D1R, 6.68% (3 mo. Term SOFR + 2.80%), 04/17/2038
    
3,540,000
      
3,568,055
  
Series 2023-3A, Class D1R, 6.63% (3 mo. Term SOFR + 2.75%), 01/17/2038
    
1,000,000
      
1,005,253
  
GoldenTree Loan Management US CLO, Series 2017-1A, Class ER3, 8.38% (3 mo. Term SOFR + 4.50%), 04/20/2034
    
2,000,000
      
1,973,532
  
Goldentree Loan Opportunities Ltd.
  
Series 2019-6A, Class DR2, 6.33% (3 mo. Term SOFR + 2.45%), 04/20/2035
    
5,000,000
      
4,965,740
  
Series 2025-26A, Class D, 7.02% (3 mo. Term SOFR + 2.75%), 07/20/2038
    
2,500,000
      
2,509,997
  
Golub Capital Partners CLO Ltd., Series 2019-41A, Class D1R2, 6.83% (3 mo. Term SOFR + 2.95%), 07/20/2038
    
5,000,000
      
5,019,175
  
Harriman Park CLO Ltd., Series 2020-1A, Class D1RR, 6.78% (3 mo. Term SOFR + 2.90%), 07/20/2038
    
5,000,000
      
5,010,850
  
KKR CLO Trust
  
Series 2022-41A, Class D, 7.16% (3 mo. Term SOFR + 3.25%), 04/15/2035
    
1,000,000
      
972,550
  
Series 2024-60A, Class D1, 6.91% (3 mo. Term SOFR + 3.00%), 01/15/2038
    
5,000,000
      
5,050,645
  
Series 35A, Class ER, 8.78% (3 mo. Term SOFR + 4.90%), 01/20/2038
    
4,668,000
      
4,331,881
  
Series 37A, Class D1R, 6.83% (3 mo. Term SOFR + 2.95%), 04/20/2038
    
7,000,000
      
7,021,847
  
Series 37A, Class ER, 9.63% (3 mo. Term SOFR + 5.75%), 04/20/2038
    
7,000,000
      
6,920,900
  
Lodi Park CLO Ltd., Series 2024-1A, Class E, 9.52% (3 mo. Term SOFR + 5.65%), 07/21/2037
    
5,000,000
      
5,023,900
  
Madison Park Funding Ltd.
  
Series 2018-27A, Class D1R, 6.73% (3 mo. Term SOFR + 2.85%), 04/20/2038
    
7,500,000
      
7,521,308
  
Series 2018-27A, Class ER, 9.38% (3 mo. Term SOFR + 5.50%), 04/20/2038
    
7,000,000
      
7,038,213
  
Series 2018-28A, Class ER, 10.26% (3 mo. Term SOFR + 6.35%), 01/15/2038
    
7,500,000
      
7,389,120
  
Series 2019-34A, Class D1RR, 7.24% (3 mo. Term SOFR + 3.35%), 10/16/2037
    
5,000,000
      
4,992,960
  
Series 2019-37A, Class D1A, 7.66% (3 mo. Term SOFR + 3.75%), 04/15/2037
    
5,000,000
      
5,027,135
  
Series 2020-47A, Class ER, 10.53% (3 mo. Term SOFR + 6.65%), 04/19/2037
    
2,000,000
      
2,012,492
  
Series 2021-48A, Class E, 10.40% (3 mo. Term SOFR + 6.51%), 04/19/2033
    
1,500,000
      
1,500,075
  
Series 2022-54A, Class D1R, 7.02% (3 mo. Term SOFR + 3.15%), 10/21/2037
    
4,000,000
      
4,039,028
  
Series 2022-54A, Class ER, 10.37% (3 mo. Term SOFR + 6.50%), 10/21/2037
    
5,000,000
      
4,957,770
  
Series 2023-63A, Class D1R, 7.02% (3 mo. Term SOFR + 3.15%), 07/21/2038
    
4,000,000
      
4,028,028
  
Magnetite CLO Ltd.
  
Series 2016-17A, Class DR2, 7.38% (3 mo. Term SOFR + 3.50%), 04/20/2037
    
6,778,000
      
6,812,507
  
Series 2021-29A, Class DR, 6.96% (3 mo. Term SOFR + 3.05%), 07/15/2037
    
3,000,000
      
3,020,640
  
Series 2021-30A, Class ER, 9.21% (3 mo. Term SOFR + 5.35%), 10/25/2037
    
3,000,000
      
3,026,745
  
Series 2022-35A, Class DR, 7.86% (3 mo. Term SOFR + 4.00%), 10/25/2036
    
2,000,000
      
2,000,100
  
Series 2023-36A, Class DR, 6.66% (3 mo. Term SOFR + 2.80%), 07/25/2038
    
7,000,000
      
7,023,282
  
Series 2023-37A, Class D1R, 6.40% (3 mo. Term SOFR + 2.50%), 10/25/2038
    
4,000,000
      
4,007,924
  
Neuberger Berman CLO Ltd.
  
Series 2016-21A, Class D1R3, 6.78% (3 mo. Term SOFR + 2.90%), 01/20/2039
    
5,000,000
      
5,027,540
  
Series 2017-16SA, Class D1R2, 6.61% (3 mo. Term SOFR + 2.70%), 04/15/2039
    
7,500,000
      
7,545,323
  
Series 2018-30A, Class D1R2, 6.68% (3 mo. Term SOFR + 2.80%), 01/20/2039
    
5,750,000
      
5,783,275
  
Series 2019-31A, Class D1R2, 6.58% (3 mo. Term SOFR + 2.70%), 01/20/2039
    
4,000,000
      
4,023,116
  
Series 2021-43A, Class DR, 6.53% (3 mo. Term SOFR + 2.65%), 07/17/2036
    
1,170,000
      
1,173,929
  
Series 2021-46A, Class DR, 6.53% (3 mo. Term SOFR + 2.65%), 01/20/2037
    
2,000,000
      
2,002,412
  
Oaktree CLO Ltd.
  
Series 2019-2A, Class DR, 11.10% (3 mo. Term SOFR + 7.19%), 10/15/2037
    
3,500,000
      
3,483,781
  
Series 2022-3A, Class ER, 10.41% (3 mo. Term SOFR + 6.50%), 10/15/2037
    
2,000,000
      
2,013,344
  
Series 2023-2A, Class D1R, 6.93% (3 mo. Term SOFR + 3.05%), 07/20/2038
    
2,000,000
      
2,003,642
  
OCP CLO Ltd.
  
Series 2015-10A, Class D1R3, 6.71% (3 mo. Term SOFR + 2.85%), 01/26/2038
    
5,000,000
      
5,033,300
  
Series 2015-9A, Class D1R3, 6.41% (3 mo. Term SOFR + 2.50%), 01/15/2037
    
3,250,000
      
3,254,628
  
Series 2015-9A, Class ER3, 8.61% (3 mo. Term SOFR + 4.70%), 01/15/2037
    
2,000,000
      
1,971,586
  
Series 2016-11A, Class D1R3, 6.71% (3 mo. Term SOFR + 2.85%), 07/26/2038
    
2,000,000
      
2,019,714
  
Series 2020-20A, Class D1R, 7.48% (3 mo. Term SOFR + 3.60%), 04/18/2037
    
3,150,000
      
3,172,069
  
Series 2021-22A, Class D1R, 6.88% (3 mo. Term SOFR + 3.00%), 10/20/2037
    
1,000,000
      
1,004,264
  
Series 2021-23A, Class D1R, 6.63% (3 mo. Term SOFR + 2.75%), 01/17/2037
    
3,000,000
      
3,004,038
  
Series 2022-25A, Class ER, 9.73% (3 mo. Term SOFR + 5.85%), 07/20/2037
    
5,000,000
      
5,019,075
  
Octagon Credit Investors LLC, Series 2024-3A, Class E, 9.77% (3 mo. Term SOFR + 5.90%), 07/24/2037
    
4,000,000
      
4,019,748
  
Octagon Investment Partners Ltd.
  
Series 2016-1A, Class DR2, 7.18% (3 mo. Term SOFR + 3.30%), 07/18/2039
    
3,000,000
      
3,021,054
  
Series 2016-1A, Class ER2, 11.05% (3 mo. Term SOFR + 7.17%), 07/18/2039
    
6,000,000
      
5,721,672
  
Series 2019-3A, Class ERR, 11.43% (3 mo. Term SOFR + 7.53%), 07/15/2037
    
2,000,000
      
2,019,438
  
Series 2020-3A, Class DAR2, 7.06% (3 mo. Term SOFR + 3.15%), 01/15/2039
    
4,000,000
      
4,033,208
  
Series 2020-5A, Class ER, 11.24% (3 mo. Term SOFR + 7.33%), 04/15/2037
    
2,500,000
      
2,435,355
  
Series 2022-1A, Class ER, 10.26% (3 mo. Term SOFR + 6.40%), 01/23/2038
    
5,500,000
      
5,530,932
  
Series 2024-4A, Class E, 10.16% (3 mo. Term SOFR + 6.30%), 10/23/2037
    
3,500,000
      
3,511,987
  
OHA Credit Funding
  
Series 2018-1A, Class D1R, 7.48% (3 mo. Term SOFR + 3.60%), 04/20/2037
    
4,000,000
      
4,019,900
  
Series 2019-2A, Class D1R2, 6.57% (3 mo. Term SOFR + 2.70%), 01/21/2038
    
3,000,000
      
3,012,924
  
Series 2020-5A, Class ER, 9.28% (3 mo. Term SOFR + 5.40%), 10/18/2037
    
1,000,000
      
1,007,581
  
Series 2020-7A, Class D1R2, 6.58% (3 mo. Term SOFR + 2.70%), 07/19/2038
    
2,000,000
      
2,016,696
  
Series 2021-10RA, Class D1, 6.98% (3 mo. Term SOFR + 2.70%), 07/18/2038
    
2,000,000
      
2,015,916
  
Series 2021-8A, Class D1R, 6.53% (3 mo. Term SOFR + 2.65%), 01/20/2038
    
4,500,000
      
4,511,308
  
Series 2022-12RA, Class D, 7.08% (3 mo. Term SOFR + 2.75%), 07/20/2037
    
7,500,000
      
7,519,042
  
OHA Credit Partners Ltd.
  
Series 2015-11A, Class D1R2, 6.98% (3 mo. Term SOFR + 3.10%), 04/20/2037
    
4,300,000
      
4,326,153
  
Series 2016-13A, Class D1R2, 6.87% (3 mo. Term SOFR + 3.00%), 10/21/2037
    
1,125,000
      
1,133,541
  
Series 2017-14A, Class D1R, 6.72% (3 mo. Term SOFR + 2.85%), 07/21/2037
    
4,000,000
      
4,030,348
  
OHA Loan Funding Ltd., Series 2016-1A, Class D1R2, 6.93% (3 mo. Term SOFR + 3.05%), 07/20/2037
    
4,500,000
      
4,528,579
  
Palmer Square CLO Ltd.
  
Series 2015-1A, Class CR5, 6.62% (3 mo. Term SOFR + 2.75%), 05/21/2034
    
3,195,000
      
3,201,579
  
Series 2018-2A, Class CR, 7.79% (3 mo. Term SOFR + 3.90%), 04/16/2037
    
5,000,000
      
5,031,565
  
Series 2021-2A, Class DR1, 6.81% (3 mo. Term SOFR + 2.90%), 02/15/2038
    
1,000,000
      
1,007,174
  
Series 2021-3A, Class ER, 9.36% (3 mo. Term SOFR + 5.45%), 10/15/2038
    
3,400,000
      
3,423,450
  
Series 2021-4A, Class D1R, 6.76% (3 mo. Term SOFR + 2.85%), 07/15/2038
    
6,000,000
      
6,049,650
  
Series 2021-4A, Class ER, 9.66% (3 mo. Term SOFR + 5.75%), 07/15/2038
    
5,605,000
      
5,632,762
  
Series 2022-1A, Class ER, 9.16% (3 mo. Term SOFR + 5.20%), 10/20/2038
    
4,250,000
      
4,270,098
  
Series 2023-1A, Class D1R, 6.53% (3 mo. Term SOFR + 2.65%), 01/20/2038
    
2,495,000
      
2,502,023
  
Series 2023-2A, Class DR, 7.28% (3 mo. Term SOFR + 3.40%), 07/20/2038
    
5,000,000
      
5,008,675
  
Series 2023-4A, Class D1R, 6.83% (3 mo. Term SOFR + 2.95%), 10/20/2037
    
6,200,000
      
6,240,784
  
Rad CLO, Series 2023-19A, Class D1R, 7.23% (3 mo. Term SOFR + 3.35%), 03/20/2038
    
6,000,000
      
6,054,486
  
Regatta Funding Ltd.
  
Series 2018-1A, Class D1R, 7.03% (3 mo. Term SOFR + 3.15%), 07/17/2037
    
875,000
      
881,887
  
Series 2018-1A, Class ER, 10.63% (3 mo. Term SOFR + 6.75%), 07/17/2037
    
5,000,000
      
4,982,835
  
Series 2021-5A, Class D1R, 6.68% (3 mo. Term SOFR + 2.80%), 01/20/2038
    
6,300,000
      
6,321,937
  
Series 2023-1A, Class D1R, 6.86% (3 mo. Term SOFR + 2.95%), 07/15/2038
    
7,000,000
      
7,025,116
  
Series 2023-1A, Class ER, 9.66% (3 mo. Term SOFR + 5.75%), 07/15/2038
    
2,500,000
      
2,524,483
  
RR Ltd.
  
Series 2019-7A, Class D1B, 10.41% (3 mo. Term SOFR + 6.50%), 01/15/2037
    
4,750,000
      
4,722,521
  
Series 2021-14A, Class C, 7.07% (3 mo. Term SOFR + 3.16%), 04/15/2036
    
2,000,000
      
2,002,304
  
Series 2024-36RA, Class C1R, 6.66% (3 mo. Term SOFR + 2.75%), 01/15/2040
    
720,000
      
722,682
  
Sixth Street CLO
  
Series 2021-18A, Class D1R, 6.58% (3 mo. Term SOFR + 2.70%), 10/17/2038
    
4,500,000
      
4,520,560
  
Series 2021-20A, Class D1R, 6.83% (3 mo. Term SOFR + 2.95%), 07/17/2038
    
6,000,000
      
6,033,036
  
Series 2024-26A, Class D1, 6.78% (3 mo. Term SOFR + 2.90%), 10/18/2037
    
4,000,000
      
4,033,256
  
TRESTLES CLO LLC, Series 2023-6A, Class D1R, 6.51% (3 mo. Term SOFR + 2.65%), 04/25/2038
    
2,000,000
      
2,007,636
  
Wellman Park CLO Ltd.
  
Series 2021-1A, Class D1R, 6.96% (3 mo. Term SOFR + 3.05%), 07/15/2037
    
2,500,000
      
2,502,520
  
Series 2021-1A, Class ER, 10.21% (3 mo. Term SOFR + 6.30%), 07/15/2037
    
5,000,000
      
4,941,745
  
             
625,934,886
  
                 
Jersey - 8.9%
  
AGL CLO Ltd.
  
Series 2022-21A, Class ER, 9.52% (3 mo. Term SOFR + 5.65%), 10/21/2037
    
4,500,000
      
4,457,092
  
Series 2023-24A, Class ER, 10.70% (3 mo. Term SOFR + 6.84%), 03/31/2038
    
2,650,000
      
2,597,000
  
Series 2024-30RA, Class D, 7.32% (3 mo. Term SOFR + 3.45%), 04/21/2037
    
3,000,000
      
3,011,133
  
Apidos CLO
  
Series 2022-41A, Class ER, 9.53% (3 mo. Term SOFR + 5.65%), 10/20/2037
    
2,000,000
      
2,025,480
  
Series 2023-43A, Class D1R, 6.86% (3 mo. Term SOFR + 3.00%), 07/25/2038
    
2,000,000
      
2,019,942
  
ARES CLO
  
Series 2023-ALF4A, Class D1R, 6.66% (3 mo. Term SOFR + 2.75%), 10/15/2038
    
3,000,000
      
3,003,996
  
Series 2024-69A, Class E, 10.41% (3 mo. Term SOFR + 6.50%), 04/15/2036
    
4,000,000
      
3,993,520
  
Bain Capital Credit CLO
  
Series 2022-5A, Class DR, 8.12% (3 mo. Term SOFR + 4.25%), 01/24/2037
    
5,000,000
      
5,012,135
  
Series 2023-1A, Class D1R, 7.09% (3 mo. Term SOFR + 3.20%), 07/16/2038
    
2,000,000
      
2,020,684
  
Bear Mountain Park CLO Ltd., Series 2022-1A, Class ER, 9.86% (3 mo. Term SOFR + 5.95%), 07/15/2037
    
4,000,000
      
3,963,632
  
Birch Grove CLO, Series 2023-6A, Class D1R, 7.52% (3 mo. Term SOFR + 3.15%), 07/20/2038
    
3,000,000
      
2,994,552
  
Brookhaven Park CLO Ltd., Series 2024-1A, Class D, 7.48% (3 mo. Term SOFR + 3.60%), 04/19/2037
    
1,500,000
      
1,510,643
  
Captree Park CLO Ltd.
  
Series 2024-1A, Class D, 7.13% (3 mo. Term SOFR + 3.25%), 07/20/2037
    
2,400,000
      
2,412,394
  
Series 2024-1A, Class E, 9.88% (3 mo. Term SOFR + 6.00%), 07/20/2037
    
3,600,000
      
3,630,712
  
Dryden Senior Loan Fund, Series 2022-108A, Class D1R, 6.98% (3 mo. Term SOFR + 3.10%), 07/18/2037
    
800,000
      
803,583
  
Goldentree Loan Opportunities Ltd.
  
Series 2022-14A, Class DR, 6.88% (3 mo. Term SOFR + 3.00%), 07/20/2037
    
2,800,000
      
2,818,052
  
Series 2023-17A, Class DR, 6.68% (3 mo. Term SOFR + 2.80%), 01/20/2039
    
5,000,000
      
5,038,600
  
Series 2024-20A, Class D, 7.03% (3 mo. Term SOFR + 3.15%), 07/20/2037
    
1,500,000
      
1,507,865
  
Series 2024-20A, Class E, 9.78% (3 mo. Term SOFR + 5.90%), 07/20/2037
    
3,000,000
      
3,016,533
  
Series 2024-21A, Class D, 6.93% (3 mo. Term SOFR + 3.05%), 07/20/2037
    
1,000,000
      
1,005,465
  
Golub Capital Partners CLO Ltd., Series 2023-66A, Class DR, 6.86% (3 mo. Term SOFR + 3.00%), 07/25/2038
    
1,000,000
      
1,004,124
  
Invesco CLO Ltd.
  
Series 2023-1A, Class ER, 10.76% (3 mo. Term SOFR + 6.90%), 04/22/2037
    
1,000,000
      
991,050
  
Series 2024-3A, Class D, 7.43% (3 mo. Term SOFR + 3.55%), 07/20/2037
    
1,400,000
      
1,412,181
  
KKR CLO Trust, Series 48A, Class ER, 9.97% (3 mo. Term SOFR + 6.09%), 10/20/2038
    
2,500,000
      
2,462,045
  
Neuberger Berman Loan Advisers NBLA CLO 55 Ltd., Series 2024-55A, Class D1, 7.36% (3 mo. Term SOFR + 3.50%), 04/22/2038
    
720,000
      
725,010
  
OCP CLO Ltd.
  
Series 2024-31A, Class D, 7.83% (3 mo. Term SOFR + 3.95%), 04/20/2037
    
250,000
      
251,924
  
Series 2024-37A, Class E, 9.40% (3 mo. Term SOFR + 5.50%), 10/15/2037
    
2,000,000
      
2,014,234
  
Regatta Funding Ltd., Series 2024-1A, Class E, 10.36% (3 mo. Term SOFR + 6.50%), 04/26/2037
    
2,000,000
      
2,021,052
  
             
67,724,633
  
                 
United States - 1.5%
  
Clover CLO, Series 2018-1A, Class D1RR, 7.33% (3 mo. Term SOFR + 3.45%), 04/20/2037
    
3,030,000
      
3,033,348
  
Flatiron CLO Ltd., Series 2023-1A, Class DR, 6.58% (3 mo. Term SOFR + 2.70%), 04/17/2036
    
5,150,000
      
5,171,305
  
Green Lakes Park CLO LLC, Series 2025-1A, Class D1RR, 6.36% (3 mo. Term SOFR + 2.50%), 01/25/2038
    
3,000,000
      
3,008,532
  
             
11,213,185
  
TOTAL COLLATERALIZED LOAN OBLIGATIONS (Cost $714,638,385)
      
711,843,851
  
                 
                 
TOTAL INVESTMENTS - 93.6% (Cost $714,638,385)
      
711,843,851
  
Money Market Deposit Account - 5.5% (d)
      
41,593,650
  
Other Assets in Excess of Liabilities - 0.9%
      
7,035,686
  
TOTAL NET ASSETS - 100.0%
          
$
760,473,187
  
                 
Par amount is in USD unless otherwise indicated.
          
Percentages are stated as a percent of net assets.
          

LLC - Limited Liability Company
SOFR - Secured Overnight Financing Rate

(a)
Variable rate securities. The coupon is based on a reference index and spread. The rate reported is the rate in effect as of November 30, 2025.
(b)
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 November 30, 2025, the value of these securities total $711,843,851 or 93.6% of the Fund’s net assets.
(c)
To the extent that the Fund invests a significant portion of its assets in the securities of companies of a single country or region, it is more likely to be impacted by events or conditions affecting such country or region.
(d)
The U.S. Bank Money Market Deposit Account (the “MMDA”) is a short-term vehicle in which the Fund holds cash balances. The MMDA will bear interest at a variable rate that is determined based on market conditions and is subject to change daily. The rate as of November 30, 2025 was 3.61%.
Summary of Fair Value Disclosure as of November 30, 2025 (Unaudited)
 
Eldridge BBB-B CLO ETF (the "Fund") has adopted fair value accounting standards which establish a 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. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
 
Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.
 
Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.
 
Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.
 
The following is a summary of the fair valuation hierarchy of the Fund’s securities as of November 30, 2025:
 

   
Level 1
    
Level 2
    
Level 3
    
Total
  
Investments at Fair Value:
                        
  Collateralized Loan Obligations
  
$
–
    
$
711,843,851
    
$
–
    
$
711,843,851
  
Total Investments in Securities
  
$
–
    
$
711,843,851
    
$
–
    
$
711,843,851
  
   
Refer to the Schedule of Investments for further disaggregation of investment categories. As of the period ended November 30, 2025, the Fund did not hold any Level 3 securities, nor were there any transfers into or out of Level 3.