NPORT-EX 2 high_yield.htm SOI

Aristotle High Yield Bond Fund
  
Schedule of Investments
  
as of June 30, 2024 (Unaudited)
  
   
CORPORATE BONDS - 79.6%
  
Par
    
Value
  
Communications - 8.3%
  
Altice France SA, 8.13%, 02/01/2027 (a)
  
$
200,000
    
$
150,161
  
CCO Holdings LLC / CCO Holdings Capital Corp.
  
5.38%, 06/01/2029(a)
    
265,000
      
241,333
  
6.38%, 09/01/2029(a)
    
240,000
      
228,300
  
4.75%, 03/01/2030(a)
    
1,115,000
      
966,445
  
4.25%, 02/01/2031(a)
    
300,000
      
245,163
  
Clear Channel Outdoor Holdings, Inc.
  
5.13%, 08/15/2027(a)
    
285,000
      
272,444
  
7.50%, 06/01/2029(a)
    
190,000
      
158,959
  
7.88%, 04/01/2030(a)
    
300,000
      
302,205
  
CSC Holdings LLC, 11.75%, 01/31/2029 (a)
    
850,000
      
725,457
  
DISH Network Corp., 11.75%, 11/15/2027 (a)
    
1,150,000
      
1,128,661
  
Frontier Communications Holdings LLC
  
5.88%, 10/15/2027(a)
    
125,000
      
122,161
  
5.00%, 05/01/2028(a)
    
425,000
      
400,826
  
8.63%, 03/15/2031(a)
    
200,000
      
206,238
  
Level 3 Financing, Inc.
  
4.88%, 06/15/2029(a)
    
400,000
      
230,021
  
10.50%, 05/15/2030(a)
    
282,000
      
280,707
  
4.00%, 04/15/2031(a)
    
425,000
      
224,188
  
Newfold Digital Holdings Group, Inc., 11.75%, 10/15/2028 (a)
    
250,000
      
259,350
  
Outfront Media Capital LLC / Outfront Media Capital Corp., 4.25%, 01/15/2029 (a)
    
215,000
      
196,269
  
Univision Communications, Inc., 8.00%, 08/15/2028 (a)
    
775,000
      
756,503
  
Vmed O2 UK Financing I PLC, 4.75%, 07/15/2031 (a)
    
670,000
      
565,976
  
             
7,661,367
  
                 
Consumer Discretionary - 16.5%
  
1011778 BC ULC / New Red Finance, Inc.
  
3.50%, 02/15/2029(a)
    
665,000
      
604,291
  
6.13%, 06/15/2029(a)
    
175,000
      
175,763
  
4.00%, 10/15/2030(a)
    
600,000
      
528,564
  
Allied Universal Holdco LLC, 7.88%, 02/15/2031 (a)
    
225,000
      
225,788
  
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.63%, 06/01/2028 (a)
    
350,000
      
319,254
  
American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.75%, 04/20/2029 (a)
    
705,000
      
686,532
  
Boyd Gaming Corp., 4.75%, 06/15/2031 (a)
    
862,000
      
781,834
  
Caesars Entertainment, Inc., 4.63%, 10/15/2029 (a)
    
950,000
      
871,616
  
Cedar Fair LP, 5.25%, 07/15/2029
    
890,000
      
854,522
  
Churchill Downs, Inc., 6.75%, 05/01/2031 (a)
    
350,000
      
352,332
  
Empire Resorts, Inc., 7.75%, 11/01/2026 (a)
    
200,000
      
187,570
  
Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc.
  
4.63%, 01/15/2029(a)
    
325,000
      
296,218
  
6.75%, 01/15/2030(a)
    
555,000
      
487,815
  
First Student Bidco, Inc. / First Transit Parent, Inc., 4.00%, 07/31/2029 (a)
    
485,000
      
437,443
  
Garda World Security Corp.
  
4.63%, 02/15/2027(a)
    
500,000
      
478,400
  
6.00%, 06/01/2029(a)
    
450,000
      
410,995
  
Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc
  
5.00%, 06/01/2029(a)
    
90,000
      
83,988
  
4.88%, 07/01/2031(a)
    
220,000
      
194,909
  
6.63%, 01/15/2032(a)
    
275,000
      
276,470
  
Jacobs Entertainment, Inc., 6.75%, 02/15/2029 (a)
    
515,000
      
478,026
  
LGI Homes, Inc., 4.00%, 07/15/2029 (a)
    
575,000
      
500,035
  
MajorDrive Holdings IV LLC, 6.38%, 06/01/2029 (a)
    
2,545,000
      
2,398,541
  
Marriott Ownership Resorts, Inc., 4.75%, 01/15/2028
    
490,000
      
462,838
  
Merlin Entertainments Group US Holdings, Inc., 7.38%, 02/15/2031 (a)
    
575,000
      
586,287
  
SeaWorld Parks & Entertainment, Inc., 5.25%, 08/15/2029 (a)
    
475,000
      
449,148
  
Six Flags Entertainment Corp., 7.25%, 05/15/2031 (a)
    
350,000
      
356,590
  
Viking Cruises Ltd.
  
6.25%, 05/15/2025(a)
    
315,000
      
314,968
  
9.13%, 07/15/2031(a)
    
425,000
      
460,647
  
Viking Ocean Cruises Ship VII Ltd., 5.63%, 02/15/2029 (a)
    
50,000
      
48,946
  
Wand NewCo 3, Inc., 7.63%, 01/30/2032 (a)
    
334,275
      
345,519
  
Wynn Resorts Finance LLC / Wynn Resorts Capital Corp., 7.13%, 02/15/2031 (a)
    
635,000
      
658,878
  
             
15,314,727
  
                 
Consumer Staples - 4.2%
  
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC, 3.50%, 03/15/2029 (a)
    
1,450,000
      
1,305,496
  
Chobani LLC / Chobani Finance Corp., Inc., 4.63%, 11/15/2028 (a)
    
400,000
      
378,265
  
Fiesta Purchaser, Inc., 7.88%, 03/01/2031 (a)
    
390,000
      
403,329
  
Performance Food Group, Inc., 4.25%, 08/01/2029 (a)
    
610,000
      
555,730
  
Pilgrim's Pride Corp., 4.25%, 04/15/2031
    
625,000
      
569,225
  
Post Holdings, Inc., 4.63%, 04/15/2030 (a)
    
405,000
      
372,415
  
US Foods, Inc., 4.63%, 06/01/2030 (a)
    
285,000
      
264,961
  
             
3,849,421
  
                 
Energy - 12.4%
  
Antero Midstream Partners LP / Antero Midstream Finance Corp.
  
5.38%, 06/15/2029(a)
    
835,000
      
809,989
  
6.63%, 02/01/2032(a)
    
25,000
      
25,241
  
Ascent Resources Utica Holdings LLC / ARU Finance Corp., 5.88%, 06/30/2029 (a)
    
400,000
      
391,205
  
Civitas Resources, Inc., 8.63%, 11/01/2030 (a)
    
425,000
      
456,038
  
Comstock Resources, Inc., 6.75%, 03/01/2029 (a)
    
250,000
      
240,652
  
CQP Holdco LP / BIP-V Chinook Holdco LLC
  
5.50%, 06/15/2031(a)
    
215,000
      
203,958
  
7.50%, 12/15/2033(a)
    
600,000
      
622,820
  
CrownRock LP / CrownRock Finance, Inc., 5.00%, 05/01/2029 (a)
    
419,000
      
415,884
  
Diamond Foreign Asset Co. / Diamond Finance LLC, 8.50%, 10/01/2030 (a)
    
525,000
      
551,541
  
Enerflex Ltd., 9.00%, 10/15/2027 (a)
    
1,200,000
      
1,219,285
  
Energy Transfer LP, 7.13% to 10/01/2029 then 5 yr. CMT Rate + 2.83%, 10/01/2054
    
375,000
      
370,204
  
EQM Midstream Partners LP
  
6.50%, 07/01/2027(a)
    
210,000
      
212,406
  
5.50%, 07/15/2028
    
150,000
      
147,813
  
4.50%, 01/15/2029(a)
    
300,000
      
283,338
  
4.75%, 01/15/2031(a)
    
250,000
      
233,918
  
Genesis Energy LP / Genesis Energy Finance Corp.
  
8.25%, 01/15/2029
    
25,000
      
25,829
  
7.88%, 05/15/2032
    
300,000
      
303,069
  
Permian Resources Operating LLC, 5.88%, 07/01/2029 (a)
    
400,000
      
394,125
  
Range Resources Corp., 4.75%, 02/15/2030 (a)
    
425,000
      
399,064
  
Sunoco LP, 7.25%, 05/01/2032 (a)
    
750,000
      
776,324
  
USA Compression Partners LP / USA Compression Finance Corp., 7.13%, 03/15/2029 (a)
    
575,000
      
579,849
  
Venture Global Calcasieu Pass LLC
  
3.88%, 08/15/2029(a)
    
125,000
      
113,923
  
6.25%, 01/15/2030(a)
    
25,000
      
25,388
  
4.13%, 08/15/2031(a)
    
125,000
      
112,253
  
3.88%, 11/01/2033(a)
    
175,000
      
149,276
  
Venture Global LNG, Inc.
  
8.13%, 06/01/2028(a)
    
325,000
      
335,077
  
9.50%, 02/01/2029(a)
    
500,000
      
547,861
  
8.38%, 06/01/2031(a)
    
100,000
      
103,798
  
9.88%, 02/01/2032(a)
    
1,360,000
      
1,481,108
  
             
11,531,236
  
                 
Financials - 4.1%
  
Acrisure LLC / Acrisure Finance, Inc., 7.50%, 11/06/2030 (a)
    
375,000
      
375,549
  
Boost Newco Borrower LLC, 7.50%, 01/15/2031 (a)
    
510,000
      
532,135
  
Howard Hughes Corp., 5.38%, 08/01/2028 (a)
    
740,000
      
704,034
  
Iron Mountain Information Management Services, Inc., 5.00%, 07/15/2032 (a)
    
125,000
      
114,286
  
Iron Mountain, Inc.
  
4.88%, 09/15/2029(a)
    
405,000
      
381,961
  
4.50%, 02/15/2031(a)
    
75,000
      
67,763
  
OneMain Finance Corp.
  
3.88%, 09/15/2028
    
415,000
      
372,482
  
5.38%, 11/15/2029
    
195,000
      
183,032
  
Panther Escrow Issuer LLC, 7.13%, 06/01/2031 (a)
    
500,000
      
506,102
  
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co.-Issuer, 4.88%, 05/15/2029 (a)
    
575,000
      
539,745
  
             
3,777,089
  
                 
Health Care - 3.3%
  
Avantor Funding, Inc.
  
4.63%, 07/15/2028(a)
    
260,000
      
247,642
  
3.88%, 11/01/2029(a)
    
50,000
      
45,508
  
Charles River Laboratories International, Inc.
  
3.75%, 03/15/2029(a)
    
250,000
      
228,432
  
4.00%, 03/15/2031(a)
    
200,000
      
178,613
  
CHS/Community Health Systems, Inc.
  
5.63%, 03/15/2027(a)
    
225,000
      
209,725
  
4.75%, 02/15/2031(a)
    
180,000
      
141,693
  
10.88%, 01/15/2032(a)
    
200,000
      
208,407
  
Medline Borrower LP, 3.88%, 04/01/2029 (a)
    
750,000
      
691,249
  
Medline Borrower LP/Medline Co.-Issuer, Inc., 6.25%, 04/01/2029 (a)
    
25,000
      
25,314
  
MPH Acquisition Holdings LLC
  
5.50%, 09/01/2028(a)
    
400,000
      
302,445
  
5.75%, 11/01/2028(a)
    
100,000
      
53,914
  
Star Parent, Inc., 9.00%, 10/01/2030 (a)
    
325,000
      
341,623
  
Tenet Healthcare Corp.
  
4.63%, 06/15/2028
    
75,000
      
71,390
  
4.25%, 06/01/2029
    
125,000
      
116,510
  
4.38%, 01/15/2030
    
190,000
      
176,272
  
             
3,038,737
  
                 
Industrials - 13.8%
  
Boeing Co., 6.39%, 05/01/2031 (a)
    
790,000
      
804,592
  
BWX Technologies, Inc., 4.13%, 04/15/2029 (a)
    
1,185,000
      
1,095,271
  
Chart Industries, Inc.
  
7.50%, 01/01/2030(a)
    
625,000
      
646,635
  
9.50%, 01/01/2031(a)
    
600,000
      
650,792
  
EMRLD Borrower LP / Emerald Co.-Issuer, Inc.
  
6.63%, 12/15/2030(a)
    
435,000
      
438,938
  
6.75%, 07/15/2031(a)
    
25,000
      
25,328
  
GFL Environmental, Inc.
  
3.75%, 08/01/2025(a)
    
300,000
      
297,605
  
3.50%, 09/01/2028(a)
    
200,000
      
184,562
  
6.75%, 01/15/2031(a)
    
100,000
      
102,143
  
Husky Injection Molding Systems Ltd. / Titan Co.-Borrower LLC, 9.00%, 02/15/2029 (a)
    
625,000
      
647,977
  
OT Merger Corp., 7.88%, 10/15/2029 (a)
    
1,215,000
      
553,997
  
Regal Rexnord Corp., 6.40%, 04/15/2033
    
950,000
      
972,598
  
Sensata Technologies BV, 4.00%, 04/15/2029 (a)
    
150,000
      
137,841
  
Sensata Technologies, Inc.
  
4.38%, 02/15/2030(a)
    
600,000
      
551,659
  
3.75%, 02/15/2031(a)
    
200,000
      
174,466
  
Spirit AeroSystems, Inc.
  
9.38%, 11/30/2029(a)
    
475,000
      
511,996
  
9.75%, 11/15/2030(a)
    
75,000
      
82,827
  
SPX FLOW, Inc., 8.75%, 04/01/2030 (a)
    
1,950,000
      
2,003,956
  
TK Elevator Holdco GmbH, 7.63%, 07/15/2028 (a)
    
680,000
      
675,524
  
TK Elevator US Newco, Inc., 5.25%, 07/15/2027 (a)
    
435,000
      
422,164
  
TransDigm, Inc.
  
5.50%, 11/15/2027
    
250,000
      
245,705
  
6.75%, 08/15/2028(a)
    
325,000
      
329,379
  
6.38%, 03/01/2029(a)
    
525,000
      
528,304
  
4.88%, 05/01/2029
    
190,000
      
178,168
  
6.88%, 12/15/2030(a)
    
175,000
      
178,797
  
7.13%, 12/01/2031(a)
    
275,000
      
283,697
  
6.63%, 03/01/2032(a)
    
100,000
      
101,131
  
             
12,826,052
  
                 
Materials - 8.3%
  
Clydesdale Acquisition Holdings, Inc.
  
6.63%, 04/15/2029(a)
    
125,000
      
122,988
  
8.75%, 04/15/2030(a)
    
325,000
      
318,500
  
Graham Packaging Co., Inc., 7.13%, 08/15/2028 (a)
    
500,000
      
472,861
  
Herens Holdco Sarl, 4.75%, 05/15/2028 (a)
    
575,000
      
499,514
  
Iris Holding, Inc., 10.00%, 12/15/2028 (a)
    
220,000
      
187,691
  
LABL, Inc.
  
9.50%, 11/01/2028(a)
    
25,000
      
25,228
  
5.88%, 11/01/2028(a)
    
735,000
      
671,593
  
8.25%, 11/01/2029(a)
    
320,000
      
274,293
  
Mauser Packaging Solutions Holding Co.
  
9.25%, 04/15/2027(a)
    
1,115,000
      
1,117,087
  
7.88%, 04/15/2027(a)
    
75,000
      
76,593
  
Novelis Corp.
  
4.75%, 01/30/2030(a)
    
335,000
      
311,106
  
3.88%, 08/15/2031(a)
    
275,000
      
238,346
  
Olympus Water US Holding Corp., 7.25%, 06/15/2031 (a)
    
500,000
      
497,422
  
Perenti Finance Pty Ltd.
  
6.50%, 10/07/2025(a)
    
253,067
      
253,104
  
7.50%, 04/26/2029(a)
    
200,000
      
204,048
  
Sealed Air Corp., 6.88%, 07/15/2033 (a)
    
900,000
      
927,705
  
Sealed Air Corp./Sealed Air Corp. US
  
6.13%, 02/01/2028(a)
    
225,000
      
224,676
  
7.25%, 02/15/2031(a)
    
25,000
      
25,771
  
Standard Industries, Inc./NJ
  
4.75%, 01/15/2028(a)
    
515,000
      
490,513
  
4.38%, 07/15/2030(a)
    
145,000
      
131,131
  
3.38%, 01/15/2031(a)
    
375,000
      
316,358
  
Windsor Holdings III LLC, 8.50%, 06/15/2030 (a)
    
300,000
      
313,481
  
             
7,700,009
  
                 
Technology - 3.4%
  
Ciena Corp., 4.00%, 01/31/2030 (a)
    
720,000
      
651,507
  
CoreLogic, Inc., 4.50%, 05/01/2028 (a)
    
310,000
      
281,648
  
Entegris, Inc., 4.38%, 04/15/2028 (a)
    
390,000
      
368,369
  
EquipmentShare.com, Inc.
  
9.00%, 05/15/2028(a)
    
300,000
      
309,967
  
8.63%, 05/15/2032(a)
    
555,000
      
576,185
  
Open Text Corp., 3.88%, 12/01/2029 (a)
    
170,000
      
152,551
  
Open Text Holdings, Inc., 4.13%, 12/01/2031 (a)
    
440,000
      
387,620
  
Rackspace Finance LLC, 3.50%, 05/15/2028 (a)
    
185,500
      
79,997
  
UKG, Inc., 6.88%, 02/01/2031 (a)
    
330,000
      
334,369
  
             
3,142,213
  
                 
Utilities - 5.3%
  
Calpine Corp., 5.13%, 03/15/2028 (a)
    
590,000
      
567,874
  
NextEra Energy Capital Holdings, Inc., 6.70% to 09/01/2029 then 5 yr. CMT Rate + 2.36%, 09/01/2054
    
500,000
      
501,060
  
NextEra Energy Operating Partners LP, 7.25%, 01/15/2029 (a)
    
700,000
      
718,361
  
NRG Energy, Inc., 3.63%, 02/15/2031 (a)
    
750,000
      
643,760
  
PG&E Corp., 5.25%, 07/01/2030
    
640,000
      
611,703
  
Vistra Operations Co. LLC
  
5.50%, 09/01/2026(a)
    
170,000
      
167,765
  
5.00%, 07/31/2027(a)
    
325,000
      
314,612
  
4.38%, 05/01/2029(a)
    
1,125,000
      
1,048,277
  
7.75%, 10/15/2031(a)
    
100,000
      
104,218
  
6.88%, 04/15/2032(a)
    
250,000
      
253,984
  
             
4,931,614
  
TOTAL CORPORATE BONDS (Cost $74,779,504)
      
73,772,465
  
                 
BANK LOANS - 8.5%
  
Par
    
Value
  
Financials - 0.3%
  
Truist Insurance Holdings LLC, Senior Secured First Lien, 8.58% (1 mo. Term SOFR + 3.25%), 05/06/2031
    
250,000
      
250,848
  
                 
Health Care - 0.5%
  
Gainwell Acquisition Corp., Senior Secured First Lien, 9.43% (3 mo. Term SOFR + 4.00%), 10/01/2027
    
492,347
      
477,985
  
                 
Industrials - 3.5%
  
Engineered Machinery Holdings, Inc., Senior Secured Second Lien
  
12.07% (3 mo. Term SOFR + 6.50%), 05/21/2029
    
478,568
      
477,970
  
11.60% (3 mo. Term SOFR + 6.00%), 05/21/2029
    
400,000
      
399,752
  
Icebox Holdco III, Inc, Senior Secured Second Lien, 12.32% (3 mo. Term SOFR + 6.75%), 12/24/2029
    
500,000
      
507,500
  
Roper Industrial Products Investment Co., Senior Secured First Lien, 8.58% (1 mo. Term SOFR + 3.25%), 11/23/2029
    
493,775
      
496,348
  
SPX FLOW, Inc., Senior Secured First Lien, 8.83% (1 mo. Term SOFR + 3.50%), 04/05/2029
    
500,000
      
503,460
  
STS Operating, Inc., Senior Secured First Lien, 9.44% (1 mo. Term SOFR + 4.00%), 03/25/2031
    
400,617
      
401,869
  
TK Elevator US Newco, Inc., Senior Secured First Lien, 8.79% (1 mo. Term SOFR + 3.50%), 04/30/2030
    
498,750
      
501,944
  
             
3,288,843
  
                 
Materials - 1.6%
  
Iris Holding, Inc., Senior Secured First Lien
  
10.18% (3 mo. Term SOFR + 4.75%), 06/28/2028
    
328,299
      
310,243
  
10.18% (3 mo. Term SOFR + 4.75%), 06/28/2028
    
320,051
      
302,448
  
LABL, Inc., Senior Secured First Lien, 10.44% (1 mo. Term SOFR + 5.00%), 10/30/2028
    
350,000
      
346,171
  
Pregis TopCo LLC, Senior Secured First Lien, 9.34% (1 mo. Term SOFR + 4.00%), 07/31/2026
    
494,819
      
495,900
  
             
1,454,762
  
                 
Technology - 2.6%
  
Applied Systems, Inc., Senior Secured First Lien, 8.83% (1 mo. Term SOFR + 3.50%), 02/24/2031
    
497,494
      
501,762
  
Epicor Software Corp., Senior Secured First Lien
  
8.57% (1 mo. Term SOFR + 3.25%), 05/30/2031
    
52,504
      
52,788
  
8.57% (1 mo. Term SOFR + 3.25%), 05/30/2031
    
447,496
      
449,919
  
Peraton Corp., Senior Secured Second Lien, 13.18% (3 mo. Term SOFR + 7.75%), 02/01/2029
    
375,000
      
377,265
  
Polaris Newco LLC, Senior Secured First Lien, 9.59% (1 mo. Term SOFR + 4.00%), 06/05/2028
    
493,671
      
494,064
  
UKG, Inc., Senior Secured First Lien, 8.58% (1 mo. Term SOFR + 3.25%), 02/10/2031
    
497,403
      
499,847
  
             
2,375,645
  
TOTAL BANK LOANS (Cost $7,830,344)
      
7,848,083
  
                 
COLLATERALIZED LOAN OBLIGATIONS - 5.7%
  
Par
    
Value
  
Aimco CDO, Series 2019-10A, Class ERR, 10.98% (3 mo. Term SOFR + 5.65%), 07/22/2037 (a)
    
250,000
      
251,216
  
Benefit Street Partners CLO Ltd., Series 2018-16A, Class E, 12.28% (3 mo. Term SOFR + 6.96%), 01/17/2032 (a)
    
250,000
      
250,275
  
CarVal CLO, Series 2019-2A, Class E, 12.03% (3 mo. Term SOFR + 6.70%), 07/20/2032 (a)
    
525,000
      
519,914
  
Clover CLO, Series 2018-1A, Class ERR, 11.72% (3 mo. Term SOFR + 6.40%), 04/20/2037 (a)
    
250,000
      
252,421
  
Eaton Vance Management, Series 2020-1A, Class ER, 11.84% (3 mo. Term SOFR + 6.51%), 10/15/2034 (a)
    
500,000
      
503,333
  
Neuberger Berman CLO Ltd., Series 2018-30A, Class ER, 11.79% (3 mo. Term SOFR + 6.46%), 01/20/2031 (a)
    
750,000
      
753,536
  
Oak Hill Credit Partners, Series 2012-7A, Class ER3, 11.84% (3 mo. Term SOFR + 6.51%), 02/20/2034 (a)
    
250,000
      
252,205
  
OHA Loan Funding Ltd., Series 2016-1A, Class ER2, 11.04% (3 mo. Term SOFR + 5.70%), 07/20/2037 (a)
    
1,000,000
      
1,005,270
  
Rad CLO
  
Series 2018-2A, Class ER, 11.59% (3 mo. Term SOFR + 6.26%), 10/15/2031(a)
    
400,000
      
401,141
  
Series 2018-2A, Class F, 13.04% (3 mo. Term SOFR + 7.71%), 10/15/2031(a)
    
250,000
      
237,731
  
RR Ltd./Cayman Islands, Series 2020-8A, Class DR, 11.57% (3 mo. Term SOFR + 6.25%), 07/15/2037 (a)
    
500,000
      
502,026
  
Trimaran CAVU LLC, Series 2021-3A, Class E, 12.96% (3 mo. Term SOFR + 7.63%), 01/18/2035 (a)
    
370,000
      
373,589
  
TOTAL COLLATERALIZED LOAN OBLIGATIONS (Cost $5,247,589)
      
5,302,657
  
                 
COMMON STOCKS - 0.3%
  
Shares
    
Value
  
Industrials - 0.3%
          
Chart Industries, Inc.(b)
    
1,583
      
228,490
  
TOTAL COMMON STOCKS (Cost $227,590)
      
228,490
  
                 
TOTAL INVESTMENTS - 94.1% (Cost $88,085,027)
    
$
87,151,695
  
Other Assets in Excess of Liabilities - 5.9%
      
5,495,277
  
TOTAL NET ASSETS - 100.0%
          
$
92,646,972
  
                 
Percentages are stated as a percent of net assets.
          

CMT - Constant Maturity Treasury Rate
PLC - Public Limited Company
SA - Sociedad Anónima
SOFR - Secured Overnight Financing Rate

(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 June 30, 2024, the value of these securities total $72,912,702 or 78.7% of the Fund’s net assets.
(b)
Non-income producing security.