0001193125-19-225893.txt : 20190821 0001193125-19-225893.hdr.sgml : 20190821 20190821140234 ACCESSION NUMBER: 0001193125-19-225893 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20190630 FILED AS OF DATE: 20190821 DATE AS OF CHANGE: 20190821 EFFECTIVENESS DATE: 20190821 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Insight Select Income Fund CENTRAL INDEX KEY: 0000030125 IRS NUMBER: 231745238 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-02201 FILM NUMBER: 191042685 BUSINESS ADDRESS: STREET 1: 200 PARK AVENUE STREET 2: 7TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10166 BUSINESS PHONE: 8663336685 MAIL ADDRESS: STREET 1: 200 PARK AVENUE STREET 2: 7TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10166 FORMER COMPANY: FORMER CONFORMED NAME: Insight Investment DATE OF NAME CHANGE: 20170110 FORMER COMPANY: FORMER CONFORMED NAME: Cutwater Select Income Fund DATE OF NAME CHANGE: 20111209 FORMER COMPANY: FORMER CONFORMED NAME: RIVUS BOND FUND DATE OF NAME CHANGE: 20060928 N-Q 1 d736393dnq.htm INSIGHT SELECT INCOME FUND Insight Select Income Fund

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number            811-02201                               

                                   Insight Select Income Fund                                  

(Exact name of registrant as specified in charter)

200 Park Avenue, 7th Floor

                             New York, NY 10166                                

(Address of principal executive offices) (Zip code)

Clifford D. Corso

200 Park Avenue, 7th Floor

                             New York, NY 10166                                

(Name and address of agent for service)

Registrant’s telephone number, including area code:         212-527-1800           

Date of fiscal year end: March 31 

Date of reporting period: June 30, 2019

 

Item 1. Schedule of Investments.

The Schedule of Investments is attached herewith.

SCHEDULE OF INVESTMENTS (Unaudited)    June 30, 2019

 

     Moody’s/
Standard &
    Poor’s  Rating(a)  		     

Principal      

Amount (000’s)

  

        Value    

          (Note 1)  

CORPORATE DEBT SECURITIES (76.31%)        
AUTOMOTIVE (2.54%)        
Ford Holdings LLC, Co. Gty., 9.30%, 03/01/30      Baa3/BBB      $                  1,000         $              1,293,651   
Ford Motor Co., Sr. Unsec. Notes, 8.90%, 01/15/32      Baa3/BBB        500       632,006  
Ford Motor Credit Co. LLC, Sr. Unsec. Notes, 2.343%, 11/02/20      Baa3/BBB        1,719       1,706,952  
General Motors Financial Co. Inc., Sr. Unsec. Notes, (3M LIBOR +1.10%), 3.665%,
11/06/21(e)		      Baa3/BBB        2,115       2,112,885  
       

 

 

 

          5,745,494  
       

 

 

 

CHEMICALS (1.21%)        
Union Carbide Corp., Sr. Unsec. Notes, 7.75%, 10/01/96      Baa2/BBB        2,000       2,730,476  
       

 

 

 

DIVERSIFIED FINANCIAL SERVICES (11.33%)        
American Express Co., Sr. Unsec. Notes, 3.40%, 02/22/24(b)      A3/BBB+        2,151       2,244,080  
Banco Santander SA, Sr. Unsec. Notes, 3.306%, 06/27/29      A2/A        400       402,812  
Bank of America Corp., Sr. Unsec. Notes, (3M LIBOR +0.79%), 3.004%, 12/20/23(b),(c)      A2/A-        758       771,906  
Bank of America Corp., Sr. Unsec. Notes, (3M LIBOR +0.81%), 3.366%, 01/23/26(b),(c)      A2/A-        559       576,827  
Barclays Bank PLC, Sr. Unsec. Notes, (3M LIBOR +0.46%), 2.801%, 01/11/21(b),(e)      A2/A        1,233       1,232,101  
Citigroup, Inc., Sr. Unsec. Notes, (3M LIBOR +1.563%), 3.887%, 01/10/28(b),(c)      A3/BBB+        1,100       1,163,764  
Citigroup, Inc., Sr. Unsec. Notes, 8.125%, 07/15/39      A3/BBB+        70       111,973  
Citigroup, Inc., Sub. Notes, 4.60%, 03/09/26      Baa2/BBB        988       1,068,976  
Citigroup, Inc., Sub. Notes, 5.30%, 05/06/44      Baa2/BBB        926       1,101,870  
Credit Agricole SA, Sub. Notes, (5Yr Swap +1.644%), 4.00%, 01/10/33, 144A(b),(c)      Baa2/BBB+        1,025       1,036,505  
Danske Bank A/S, Sr. Unsec. Notes, 5.00%, 01/12/22, 144A      Baa2/BBB+        739       773,029  
Discover Financial Services, Sr. Unsec. Notes, 10.25%, 07/15/19      Baa3/BBB-        200       200,541  
GE Capital International Funding, Co. Gty., 4.418%, 11/15/35      Baa1/BBB+        588       581,977  
General Electric Co., Sr. Unsec. Notes, 6.875%, 01/10/39      Baa1/BBB+        287       359,855  
General Electric Co., Sr. Unsec. Notes, 4.125%, 10/09/42      Baa1/BBB+        940       865,777  
Goldman Sachs Group, Inc., Sr. Unsec. Notes, 3.50%, 11/16/26(b)      A3/BBB+        1,040       1,065,659  
Goldman Sachs Group, Inc., Sr. Unsec. Notes, (3M LIBOR +1.75%), 4.332%, 10/28/27(b),(e)      A3/BBB+        550       561,189  
HSBC Capital Funding LP, Co. Gty., (3M LIBOR +4.98%), 10.176%, 06/30/30, 144A(b),(c),(d)      Baa2/BBB-        2,180       3,388,548  
ING Groep NV, Sr. Unsec. Notes, 3.55%, 04/09/24      Baa1/A-        1,662       1,719,240  
JPMorgan Chase & Co., Jr. Sub. Notes, (3M LIBOR +2.58%), 4.625%, 11/01/22(b),(c),(d)      Baa2/BBB-        1,159       1,122,781  
Morgan Stanley, Sub. Notes, 4.35%, 09/08/26      Baa2/BBB        1,500       1,608,490  
Nuveen LLC, Co. Gty., 4.00%, 11/01/28, 144A(b)      Aa2/AA        642       704,443  
PNC Financial Services Group, Inc., Jr. Sub. Notes, (3M LIBOR +3.30%), 5.00%,
11/01/26(b),(c),(d)		      Baa2/BBB-        757       770,248  
UBS AG, Sub. Notes, 7.625%, 08/17/22      NR/BBB+        2,000       2,243,420  
       

 

 

 

          25,676,011  
       

 

 

 

ENERGY (9.76%)        
Andeavor Logistics LP, Co. Gty., 4.25%, 12/01/27(b)      Baa3/BBB-        901       951,737  
Antero Midstream Partners LP, Sr. Unsec. Notes, 5.75%, 03/01/27, 144A(b)      Ba3/BB+        681       681,000  
CITGO Petroleum Corp., Sr. Sec. Notes, 6.25%, 08/15/22, 144A(b)      B3/B+        3,633       3,633,000  
Enbridge, Inc., Sr. Unsec. Notes, 5.50%, 12/01/46(b)      Baa2/BBB+        1,496       1,853,282  
Enbridge, Inc., Sub. Notes, (3M LIBOR +3.89%), 6.00%, 01/15/77(b),(c)      Ba1/BBB-        750       753,750  
Enterprise Products Operating LLC, Co. Gty., (3M LIBOR +2.57%), 5.375%, 02/15/78(b),(c)      Baa2/BBB-        342       318,060  

The accompanying notes are an integral part of these schedule of investments.

SCHEDULE OF INVESTMENTS (Unaudited) — continued

 

     Moody’s/
Standard &
    Poor’s  Rating(a)  		     

Principal      

Amount (000’s)

  

        Value    

          (Note 1)  

CORPORATE DEBT SECURITIES (Continued)        
ENERGY (Continued)        
Florida Gas Transmission Co. LLC, Sr. Unsec. Notes, 9.19%, 11/01/24, 144A      Baa2/BBB+      $                  60         $          67,481  
Kinder Morgan, Inc., Co. Gty., 8.05%, 10/15/30      Baa2/BBB        1,000       1,305,347  
Kinder Morgan, Inc., Co. Gty., 5.55%, 06/01/45(b)      Baa2/BBB        1,755       2,030,758  
Marathon Petroleum Corp., Sr. Unsec. Notes, 4.75%, 09/15/44(b)      Baa2/BBB        1,266       1,305,799  
Marathon Petroleum Corp., Sr. Unsec. Notes, 5.85%, 12/15/45(b)      Baa2/BBB        500       551,568  
MPLX LP, Sr. Unsec. Notes, 5.50%, 02/15/49(b)      Baa2/BBB        694       788,226  
MPLX LP, Sr. Unsec. Notes, 4.90%, 04/15/58(b)      Baa2/BBB        561       569,099  
NGPL PipeCo LLC, Sr. Unsec. Notes, 7.768%, 12/15/37, 144A      Ba1/BBB-        880       1,117,600  
Panhandle Eastern Pipe Line Co. LP, Sr. Unsec. Notes, 7.00%, 07/15/29      Baa3/BBB-        1,000       1,202,499  
Parkland Fuel Corp., Sr. Unsec. Notes, 5.875%, 07/15/27, 144A(b)      B1/BB        981       996,647  
Petroleos Mexicanos, Co. Gty., 6.00%, 03/05/20      Baa3/BBB+        478       483,975  
Sunoco LP, Co. Gty., 5.50%, 02/15/26(b)      B1/BB-        97       101,001  
Valero Energy Corp., Co. Gty., 8.75%, 06/15/30      Baa2/BBB        1,000       1,403,540  
Valero Energy Corp., Sr. Unsec. Notes, 10.50%, 03/15/39      Baa2/BBB        500       818,358  
Williams Cos., Inc., Sr. Unsec. Notes, 7.50%, 01/15/31      Baa3/BBB        911       1,178,726  
       

 

 

 

          22,111,453  
       

 

 

 

FOOD AND BEVERAGE (0.70%)        
Anheuser-Busch InBev Worldwide, Inc., Co. Gty., 4.70%, 02/01/36(b)      Baa1/A-        645       707,546  
Anheuser-Busch InBev Worldwide, Inc., Co. Gty., 4.90%, 02/01/46(b)      Baa1/A-        256       285,038  
Anheuser-Busch InBev Worldwide, Inc., Co. Gty., 8.20%, 01/15/39      Baa1/A-        27       40,709  
Mars, Inc., Co. Gty., 3.95%, 04/01/49, 144A(b)      A1/A        518       557,339  
       

 

 

 

          1,590,632  
       

 

 

 

HEALTHCARE (0.42%)        
Mylan NV, Co. Gty., 3.95%, 06/15/26(b)      Baa3/BBB-        397       383,895  
Takeda Pharmaceutical Co., Ltd., Sr. Unsec. Notes, 5.00%, 11/26/28, 144A(b)      Baa2/BBB+        500       566,669  
       

 

 

 

          950,564  
       

 

 

 

HOME BUILDERS (0.42%)        
William Lyon Homes, Inc., Co. Gty., 6.625%, 07/15/27, 144A(b)      B2/B+        959       956,603  
       

 

 

 

INDUSTRIAL (1.78%)        
3M Co., Sr. Unsec. Notes, 4.00%, 09/14/48(b)      A1/AA-        1,019       1,102,254  
Altria Group, Inc., Co. Gty., 4.80%, 02/14/29(b)      A3/BBB        527       566,942  
Altria Group, Inc., Co. Gty., 5.95%, 02/14/49(b)      A3/BBB        329       375,519  
Heathrow Funding, Ltd., Sr. Sec. Notes, 4.875%, 07/15/21, 144A      NA/A-        200       211,548  
Northrop Grumman Space & Mission Systems Corp., Co. Gty., 7.75%, 06/01/29      Baa1/BBB        500       656,982  
Sydney Airport Finance Co. Property, Ltd., Sr. Sec. Notes, 3.375%, 04/30/25, 144A(b)      Baa1/BBB+        400       406,674  
United Technologies Corp., Sr. Unsec. Notes, 3.75%, 11/01/46(b)      Baa1/BBB+        700       713,571  
       

 

 

 

          4,033,490  
       

 

 

 

INSURANCE (10.11%)        
Allstate Corp., Jr. Sub. Notes, (3M LIBOR +2.12%), 6.50%, 05/15/67(b),(c)      Baa1/BBB        2,200       2,508,000  
American International Group, Inc., Jr. Sub. Notes, (3M LIBOR +4.195%), 8.175%, 05/15/68(b),(c)      Baa2/BBB-        2,500       3,200,000  
Berkshire Hathaway Finance Corp., Co. Gty., 4.20%, 08/15/48(b)      Aa2/AA        1,104       1,234,947  
Farmers Exchange Capital, Sub. Notes, 7.20%, 07/15/48, 144A      Baa2/BBB+        2,250       2,869,166  
Guardian Life Insurance Co. of America, Sub. Notes, 4.85%, 01/24/77, 144A      A1/AA-        148       167,230  
Liberty Mutual Group, Inc., Co. Gty., 7.00%, 03/15/34, 144A      Baa2/BBB        250       327,694  
Liberty Mutual Group, Inc., Co. Gty., (3M LIBOR +7.12%), 10.75%, 06/15/58, 144A(b),(c)      Baa3/BB+        1,000       1,530,000  

 

The accompanying notes are an integral part of these schedule of investments.

SCHEDULE OF INVESTMENTS (Unaudited) — continued

 

     Moody’s/
Standard &
    Poor’s  Rating(a)  		     

Principal      

Amount (000’s)

  

        Value    

          (Note 1)  

CORPORATE DEBT SECURITIES (Continued)        
INSURANCE (Continued)        
Lincoln National Corp., Sr. Unsec. Notes, 3.80%, 03/01/28(b)      Baa1/A-      $                  250         $          262,438  
Massachusetts Mutual Life Insurance Co., Sub. Notes, 4.90%, 04/01/77, 144A      A2/AA-        980       1,145,298  
Massachusetts Mutual Life Insurance Co., Sub. Notes, 8.875%, 06/01/39, 144A      A2/AA-        151       247,709  
MetLife, Inc., Jr. Sub. Notes, 9.25%, 04/08/38, 144A(b)      Baa2/BBB        500       700,000  
MetLife, Inc., Jr. Sub. Notes, 6.40%, 12/15/36(b)      Baa2/BBB        637       728,339  
MetLife, Inc., Jr. Sub. Notes, 10.75%, 08/01/39(b)      Baa2/BBB        1,000       1,585,000  
Nationwide Mutual Insurance Co., Sub. Notes, 8.25%, 12/01/31, 144A      A3/A-        500       731,058  
Nationwide Mutual Insurance Co., Sub. Notes, 9.375%, 08/15/39, 144A      A3/A-        215       351,689  
New York Life Insurance Co., Sub. Notes, 6.75%, 11/15/39, 144A      Aa2/AA-        103       146,678  
Pricoa Global Funding, Inc., Sec. Notes, 2.45%, 09/21/22, 144A      Aa3/AA-        608       610,061  
Principal Financial Group, Inc., Co. Gty., (3M LIBOR +3.044%), 4.70%, 05/15/55(b),(c)      Baa2/BBB        1,135       1,124,138  
Prudential Financial, Inc., Jr. Sub. Notes, (3M LIBOR +2.665%), 5.70%, 09/15/48(b),(c)      Baa1/BBB+        1,241       1,333,405  
SAFG Retirement Services, Inc., Sr. Unsec. Notes, 8.125%, 04/28/23      Baa1/BBB+        1,800       2,091,394  
       

 

 

 

          22,894,244  
       

 

 

 

MEDIA (8.83%)        
Charter Communications Operating LLC, Sr. Sec. Notes, 5.75%, 04/01/48(b)      Ba1/BBB-        774       856,061  
Comcast Corp., Co. Gty., 3.70%, 04/15/24(b)      A3/A-        1,080       1,146,256  
Comcast Corp., Co. Gty., 4.15%, 10/15/28(b)      A3/A-        255       281,048  
Comcast Corp., Co. Gty., 4.70%, 10/15/48(b)      A3/A-        297       347,850  
Comcast Corp., Co. Gty., 7.05%, 03/15/33      A3/A-        2,000       2,802,174  
Cox Communications, Inc., Sr. Unsec. Notes, 6.80%, 08/01/28      Baa2/BBB        1,500       1,818,015  
Cox Enterprises, Inc., Sr. Unsec. Notes, 7.375%, 07/15/27, 144A      Baa2/BBB-        500       626,158  
CSC Holdings LLC, Co. Gty., 6.50%, 02/01/29, 144A(b)      Ba3/BB        954       1,041,053  
Grupo Televisa SAB, Sr. Unsec. Notes, 5.00%, 05/13/45(b)      Baa1/BBB+        557       566,878  
Grupo Televisa SAB, Sr. Unsec. Notes, 6.625%, 01/15/40      Baa1/BBB+        159       190,137  
RELX, Inc., Sr. Unsec. Notes, 8.875%, 06/01/22      WR/BBB+        2,000       2,301,352  
Sirius XM Radio, Inc., Co. Gty., 4.625%, 07/15/24, 144A(b)      Ba3/BB        470       480,942  
Sirius XM Radio, Inc., Co. Gty., 5.00%, 08/01/27, 144A(b)      Ba3/BB        518       527,013  
Time Warner Entertainment Co. LP, Sr. Sec. Notes, 8.375%, 07/15/33      Ba1/BBB-        1,360       1,832,776  
Viacom, Inc., Sr. Unsec. Notes, 6.875%, 04/30/36      Baa3/BBB-        179       226,800  
VTR Finance BV, Sr. Sec. Notes, 6.875%, 01/15/24, 144A(b)      B1/B+        2,176       2,252,160  
Walt Disney Co., Co. Gty., 7.90%, 12/01/95, 144A      A2/A        1,400       2,712,999  
       

 

 

 

          20,009,672  
       

 

 

 

MINING (1.96%)        
BHP Billiton Finance USA, Ltd. Co. Gty., (5Yr Swap +5.093%), 6.75%, 10/19/75, 144A(b),(c)      Baa1/BBB+        3,899       4,448,759  
       

 

 

 

PAPER (1.92%)        
Celulosa Arauco y Constitucion SA, Sr. Unsec. Notes, 5.50%, 04/30/49, 144A(b)      Baa3/BBB-        647       680,967  
Smurfit Kappa Treasury Funding, Ltd., Co. Gty., 7.50%, 11/20/25      Ba1/BB+        2,000       2,325,000  
WestRock LLC, Co. Gty., 8.20%, 01/15/30      Baa2/BBB        1,000       1,347,869  
       

 

 

 

          4,353,836  
       

 

 

 

REAL ESTATE INVESTMENT TRUST (REIT) (1.40%)        
American Tower Corp., Co. Gty., 2.95%, 01/15/25(b)      Baa3/BBB-        2,226       2,241,977  
HCP, Inc., Sr. Unsec. Notes, 3.25%, 07/15/26(b)      Baa1/BBB+        912       919,131  
       

 

 

 

          3,161,108  
       

 

 

 

 

The accompanying notes are an integral part of these schedule of investments.

SCHEDULE OF INVESTMENTS (Unaudited) — continued

 

     Moody’s/
Standard &
    Poor’s  Rating(a)  		     

Principal      

Amount (000’s)

  

        Value    

          (Note 1)  

CORPORATE DEBT SECURITIES (Continued)        
RETAIL & RESTAURANT (0.86%)        
Starbucks Corp., Sr. Unsec. Notes, 4.45%, 08/15/49(b)      Baa1/BBB+      $                  1,781         $          1,950,240  
       

 

 

 

TECHNOLOGY (4.28%)        
Broadcom, Inc., Co. Gty., 4.25%, 04/15/26, 144A(b)      Baa3/BBB-        1,655       1,679,619  
Broadcom, Inc., Co. Gty., 4.75%, 04/15/29, 144A(b)      Baa3/BBB-        1,655       1,699,325  
Fiserv, Inc., Sr. Unsec. Notes, 3.50%, 07/01/29(b)      Baa2/BBB        582       598,229  
International Business Machines Corp., Sr. Unsec. Notes, 4.25%, 05/15/49      A1/A        1,095       1,179,809  
International Business Machines Corp., Sr. Unsec. Notes, 3.00%, 05/15/24      A1/A        2,195       2,254,206  
NXP Funding LLC, Co. Gty., 3.875%, 09/01/22, 144A      Baa3/BBB-        2,213       2,275,495  
       

 

 

 

          9,686,683  
       

 

 

 

TELECOMMUNICATIONS (4.68%)        
AT&T, Inc., Sr. Unsec. Notes, 4.50%, 05/15/35(b)      Baa2/BBB        515       539,105  
AT&T, Inc., Sr. Unsec. Notes, 4.75%, 05/15/46(b)      Baa2/BBB        425       448,806  
Centel Capital Corp., Co. Gty., 9.00%, 10/15/19      Ba2/BBB-        1,000       1,017,516  
Deutsche Telekom International Finance BV, Co. Gty., 8.75%, 06/15/30(f)      Baa1/BBB+        2,000       2,879,949  
Sprint Spectrum Co. LLC, Sr. Sec. Notes, 4.738%, 03/20/25, 144A      Baa2/NA        1,100       1,141,250  
Tencent Holdings, Ltd., Sr. Unsec. Notes, 3.595%, 01/19/28, 144A(b)      A1/A+        1,954       1,995,041  
Tencent Holdings, Ltd., Sr. Unsec. Notes, 3.975%, 04/11/29, 144A(b)      A1/A+        371       387,663  
Verizon Communications, Inc., Sr. Unsec. Notes, 4.812%, 03/15/39      Baa1/BBB+        1,898       2,182,001  
       

 

 

 

          10,591,331  
       

 

 

 

TRANSPORTATION (4.89%)        
American Airlines, Pass Through Certs., Series 2013-2, Class B, 5.60%, 07/15/20, 144A      NA/BBB-        1,136       1,156,240  
American Airlines, Pass Through Certs., Series 2017-1, Class AA, 3.65%, 02/15/29      Aa3/NA        992       1,027,976  
American Airlines, Pass Through Certs., Series 2017-2, Class AA, 3.35%, 10/15/29      Aa3/NA        1,501       1,517,054  
BNSF Funding Trust I, Co. Gty., (3M LIBOR +2.35%), 6.613%, 12/15/55(b),(c)      Baa2/A        250       274,688  
British Airways, Pass Through Certs., Series 2013-1, Class B, 5.625%, 06/20/20, 144A      A3/A        316       321,546  
Continental Airlines, Pass Through Certs., Series 2000-1, Class A1, 8.048%, 11/01/20      Baa1/A        148       150,203  
Continental Airlines, Pass Through Certs., Series 2000-2, Class A1, 7.707%, 04/02/21      Baa1/BBB+        159       164,428  
ERAC USA Finance LLC, Co. Gty., 7.00%, 10/15/37, 144A      Baa1/A-        1,500       2,048,782  
Herc Holdings, Inc., Co. Gty., 5.50%, 07/15/27, 144A(b)      B3/B+        474       476,962  
Penske Truck Leasing Co. LP, Sr. Unsec. Notes, 3.65%, 07/29/21, 144A(b)      Baa2/BBB        669       684,108  
Ryder System, Inc., Sr. Unsec. Notes, 3.50%, 06/01/21      Baa1/BBB+        941       960,010  
Union Pacific Corp., Sr. Unsec. Notes, 4.50%, 09/10/48(b)      Baa1/A-        503       572,328  
United Airlines, Pass Through Certs., Series 2013-1, Class B, 5.375%, 08/15/21      NA/BBB        293       303,665  
United Airlines, Pass Through Certs., Series 2018-1, Class B, 4.60%, 03/01/26      Baa2/NA        871       903,537  
United Airlines, Pass Through Certs., Series 2019-1, Class AA, 4.15%, 08/25/31      Aa3/NA        471       505,386  
       

 

 

 

          11,066,913  
       

 

 

 

UTILITIES (9.22%)        
Black Hills Corp., Sr. Unsec. Notes, 3.95%, 01/15/26(b)      Baa2/BBB+        1,082       1,128,470  
Cleveland Electric Illuminating Co., Sr. Unsec. Notes, 3.50%, 04/01/28, 144A(b)      Baa3/BBB        800       812,220  
Domimion Energy South Carolina, Inc., 4.25%, 08/15/28(b)      Baa1/A        619       689,043  
Duke Energy Carolinas LLC, 3.95%, 11/15/28(b)      Aa2/A        1,185       1,289,958  

 

The accompanying notes are an integral part of these schedule of investments.

SCHEDULE OF INVESTMENTS (Unaudited) — continued

 

     Moody’s/
Standard &
    Poor’s  Rating(a)  		   

Principal      

Amount (000’s)

  

        Value    

          (Note 1)  

CORPORATE DEBT SECURITIES (Continued)

 

UTILITIES (Continued)

 

Duquesne Light Holdings, Inc., Sr. Unsec. Notes, 6.40%, 09/15/20, 144A    Baa3/BBB-    $                  1,000         $          1,043,064  
Enel Finance International NV, Co. Gty., 2.75%, 04/06/23, 144A    Baa2/BBB+      1,082       1,079,108  
Enel Finance International NV, Co. Gty., 4.625%, 09/14/25, 144A    Baa2/BBB+      1,458       1,565,119  
Exelon Corp., Sr. Unsec. Notes, 3.40%, 04/15/26(b)    Baa2/BBB      505       518,505  
FirstEnergy Corp., Sr. Unsec. Notes, 4.85%, 07/15/47(b)    Baa3/BBB-      1,570       1,784,715  
Hydro-Quebec, 8.25%, 04/15/26    Aa2/AA-      1,550       2,086,001  
Kansas City Power & Light Co., Sr. Unsec. Notes, 4.20%, 06/15/47(b)    A2/A      917       1,004,657  
MidAmerican Funding LLC, Sr. Sec. Notes, 6.927%, 03/01/29    A2/A-      500       649,434  
NiSource, Inc., Jr. Sub. Notes, (H15T5Y +2.843%), 5.65%, 06/15/23(b),(c),(d)    NA/BBB-      696       678,600  
Ohio Power Co., Sr. Unsec. Notes, 5.375%, 10/01/21    A2/A-      1,000       1,067,973  
Piedmont Natural Gas Co. Inc., Sr. Unsec. Notes, 3.50%, 06/01/29(b)    A3/A-      1,120       1,171,960  
Southern Co. Gas Capital Corp., Co. Gty., 5.875%, 03/15/41(b)    Baa1/A-      992       1,206,809  
Southern Co. Gas Capital Corp., Co. Gty., 3.95%, 10/01/46(b)    Baa1/A-      539       529,698  
Southern Co. Gas Capital Corp., Co. Gty., 4.40%, 05/30/47(b)    Baa1/A-      1,164       1,231,259  
Toledo Edison Co., 7.25%, 05/01/20    Baa1/A-      80       82,510  
Transelec SA, Sr. Unsec. Notes, 4.25%, 01/14/25, 144A(b)    Baa1/BBB      750       779,820  
Transelec SA, Sr. Unsec. Notes, 3.875%, 01/12/29, 144A(b)    Baa1/BBB      490       489,637  
       

 

 

 

          20,888,560  
       

 

 

 

TOTAL CORPORATE DEBT SECURITIES (Cost of $155,015,830)

 

     172,846,069  
       

 

 

 

ASSET BACKED SECURITIES (11.10%)

 

Antares Ltd., Series 2017-1A, Class C, (3M LIBOR +3.10%), 5.692%, 07/20/28, 144A(b),(e)    NR/A      1,093       1,075,162  
Arbor Realty Collateralized Loan Obligation, Ltd., Series 2017-FL3, Class A, (1M LIBOR +0.99%), 3.315%, 12/15/27, 144A(b),(e)    Aaa/NA      759       759,709  
Arbor Realty Commercial Real Estate Notes, Ltd., Series 2017-FL2, Class A, (1M LIBOR +0.99%), 3.315%, 08/15/27, 144A(b),(e)    Aaa/NA      623       623,579  
AVIS Budget Rental Car Funding AESOP LLC, Series 2015-2A, Class A, 2.63%, 12/20/21, 144A(b)    Aaa/NA      1,605       1,609,074  
CLI Funding LLC, Series 2018-1A, Class A, 4.03%, 04/18/43, 144A(b)    NA/A      147       150,878  
DB Master Finance LLC, Series 2017-1A, Class A2I, 3.629%, 11/20/47, 144A(b)    NA/BBB      331       336,077  
DRB Prime Student Loan Trust, Series 2016-B, Class A2, 2.89%, 06/25/40, 144A(b)    Aaa/NA      250       251,957  
DRB Prime Student Loan Trust, Series 2017-A, Class A2B, 2.85%, 05/27/42, 144A(b)    Aaa/NA      1,939       1,963,402  
DT Auto Owner Trust, Series 2018-2A, Class C, 3.67%, 03/15/24, 144A(b)    NA/A      781       793,063  
DT Auto Owner Trust, Series 2019-1A, Class A, 3.08%, 09/15/22, 144A(b)    NA/AAA      810       813,044  
Golub Capital Partners Ltd., Series 2017-19RA, Class B, (3M LIBOR +2.55%), 5.136%, 07/26/29, 144A(b),(e)    A2/NA      1,935       1,915,865  
Golub Capital Partners Ltd., Series 2018-36A, Class C, (3M LIBOR +2.10%), 4.665%, 02/05/31, 144A(b),(e)    NA/A      2,250       2,053,165  
IVY Hill Middle Market Credit Fund Ltd., Series 12A, Class B, (3M LIBOR +3.00%), 5.592%, 07/20/29, 144A(b),(e)    A3/NR      866       841,322  
LoanCore Issuer, Ltd., Series 2018-CRE1, Class A, (1M LIBOR +1.13%), 3.455%, 05/15/28, 144A(b),(e)    Aaa/NA      500       499,250  
Navient Private Education Loan Trust, Series 2017-A, Class A2B, (1M LIBOR+0.90%), 3.225%, 12/16/58, 144A(b),(e)    NA/AAA      782       784,513  
NextGear Floorplan Master Owner Trust, Series 2017-1A, Class A2, 2.54%, 04/18/22, 144A(b)    Aaa/AAA      1,460       1,460,546  
Option One Mortgage Loan Trust, Series 2007-FXD2, Class 2A1, 5.90%, 03/25/37(b),(f)    Ca/AA      16       15,844  
SCF Equipment Leasing LLC, Series 2017-2A, Class A, 3.41%, 12/20/23, 144A(b)    Aa3/NA      342       345,213  

 

The accompanying notes are an integral part of these schedule of investments.

SCHEDULE OF INVESTMENTS (Unaudited) — continued

 

     Moody’s/
Standard &
    Poor’s  Rating(a)  		   

Principal      

Amount (000’s)

  

        Value    

          (Note 1)  

ASSET BACKED SECURITIES (Continued)

 

Small Business Administration Participation Certificates, Series 2010-20F, Class 1, 3.88%, 06/01/30    Aaa/AA+    $                  104         $          110,530  
SMB Private Education Loan Trust, Series 2017-B, Class A2B, (1M LIBOR+0.75%), 3.075%, 10/15/35, 144A(b),(e)    Aaa/AAA      845       844,667  
Sofi Consumer Loan Program LLC, Series 2017-3, Class A, 2.77%, 05/25/26, 144A(b)    NA/AA      647       647,910  
Sofi Consumer Loan Program Trust, Series 2018-1, Class B, 3.65%, 02/25/27, 144A(b)    NA/A      793       811,773  
Sofi Professional Loan Program LLC, Series 2017-C, Class B, 3.56%, 07/25/40, 144A(b),(e)    NA/A+      1,099       1,115,249  
Sofi Professional Loan Program LLC, Series 2019-A, Class A1FX, 3.18%, 06/15/48, 144A(b)    Aaa/AAA      281       283,462  
Spirit Master Funding LLC, Series 2014-2A, Class A, 5.76%, 03/20/41, 144A(b)    NA/A+      1,507       1,564,671  
Tesla Auto Lease Trust, Series 2018-B, Class A, 3.71%, 08/20/21, 144A(b)    Aaa/NA      343       348,474  
Textainer Marine Containers Ltd., Series 2017-1A, Class A, 3.72%, 05/20/42, 144A(b)    NA/A      571       578,747  
Triton Container Finance LLC, Series 2017-2A, Class A, 3.62%, 08/20/42, 144A(b)    NA/A      1,028       1,040,277  
Willis Engine Structured Trust IV, Series 2018-A, Class A, 4.75%, 09/15/43, 144A(b),(f)    NA/A      1,438       1,500,916  
       

 

 

 

TOTAL ASSET BACKED SECURITIES (Cost of $25,196,943)

 

     25,138,339  
       

 

 

 

COMMERCIAL MORTGAGE-BACKED SECURITIES (4.22%)

 

Angel Oak Mortgage Trust I LLC, Series 2019-2, Class A1, 3.628%, 03/25/49, 144A(b),(e)    NA/NA      321       325,043  
Bancorp Commercial Mortgage Trust, Series 2018-CRE4, Class A, (1M LIBOR +0.90%), 3.225%, 09/15/35, 144A(b),(e)    Aaa/NA      116       115,247  
Bellemeade Re Ltd., Series 2018-2A, Class M1B, (1M LIBOR +1.35%), 3.754%, 08/25/28, 144A(b),(e)    NA/NA      484       483,994  
CGMS Commercial Mortgage Trust, Series 2017-MDRB, Class A, (1M LIBOR +1.10%), 3.425%, 07/15/30, 144A(e)    NA/AAA      71       70,534  
Citigroup Commercial Mortgage Trust, Series 2013-375P, Class D, 3.518%, 05/10/35, 144A(e)    Baa1/NA      2,000       2,024,873  
Citigroup Commercial Mortgage Trust, Series 2016-P6, Class C, 4.283%, 12/10/49(b),(e)    NR/NA      367       382,585  
FREMF Mortgage Trust, Series 2015-K44, Class B, 3.807%, 01/25/48, 144A(b),(e)    NA/NA      535       549,627  
FREMF Mortgage Trust, Series 2015-K45, Class B, 3.713%, 04/25/48, 144A(b),(e)    NA/NA      1,270       1,305,640  
Lanark Master Issuer PLC, Series 2019-1A, Class 1A1, (3M LIBOR +0.77%), 3.295%, 12/22/69, 144A(b),(e)    Aaa/AAA      552       553,293  
LMREC, Inc., Series 2015-CRE1, Class AR, (1M LIBOR +0.98%), 3.384%, 02/22/32,
144A(b),(e)		    Aaa/NA      521       521,058  
LMREC, Inc., Series 2016-CRE2, Class A, (1M LIBOR +1.70%), 4.104%, 11/24/31, 144A(b),(e)    Aaa/NA      400       400,199  
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2012-CKSV, Class C, 4.286%, 10/15/30, 144A(e)    NA/A+      2,710       2,739,754  
MSDB Trust, Series 2017-712F, Class C, 3.628%, 07/11/39, 144A(e)    NA/A-      82       83,769  
       

 

 

 

TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES (Cost of $9,339,211)

 

     9,555,616  
       

 

 

 

RESIDENTIAL MORTGAGE-BACKED SECURITIES (0.19%)

 

FHLMC Pool # A15675, 6.00%, 11/01/33    Aaa/AA+      83       93,966  
FHLMC Pool # G00182, 9.00%, 09/01/22(g)    Aaa/AA+      —       15  
FNMA Pool # 754791, 6.50%, 12/01/33    Aaa/AA+      204       226,530  
FNMA Pool # 763852, 5.50%, 02/01/34    Aaa/AA+      89       98,072  

 

The accompanying notes are an integral part of these schedule of investments.

SCHEDULE OF INVESTMENTS (Unaudited) — continued

 

     Moody’s/
Standard &
    Poor’s  Rating(a)  		     

Principal      

Amount (000’s)

  

        Value    

          (Note 1)  

RESIDENTIAL MORTGAGE-BACKED SECURITIES (Continued)        
GNSF Pool # 194228, 9.50%, 11/15/20      Aaa/AA+      $                  2         $          2,181  
GNSF Pool # 307527, 9.00%, 06/15/21      Aaa/AA+        3       3,473  
GNSF Pool # 417239, 7.00%, 02/15/26      Aaa/AA+        5       5,110  
GNSF Pool # 780374, 7.50%, 12/15/23      Aaa/AA+        2       2,391  
       

 

 

 

TOTAL RESIDENTIAL MORTGAGE-BACKED SECURITIES (Cost of $360,913)           431,738  
       

 

 

 

MUNICIPAL BONDS (1.13%)        
San Francisco City & County Public Utilities Commission, Water Revenue, Build America Bonds, 6.00%, 11/01/40      Aa3/AA-        145       189,512  
State of California, Build America Bonds, GO, 7.625%, 03/01/40      Aa3/AA-        1,500       2,366,910  
       

 

 

 

TOTAL MUNICIPAL BONDS (Cost of $1,679,068)           2,556,422  
       

 

 

 

U.S. TREASURY SECURITIES (4.59%)        
United States Treasury Bond, 3.50%, 02/15/39      Aaa/AA+        3,095       3,676,401  
United States Treasury Bond, 3.375%, 11/15/48      Aaa/AA+        443       521,477  
United States Treasury Bond, 3.00%, 02/15/49      Aaa/AA+        651       714,432  
United States Treasury Floating Rate Note, (US Treasury +0.043%), 2.139%, 07/31/20(e)      Aaa/AA+        2,220       2,217,650  
United States Treasury Note, 2.375%, 02/29/24      Aaa/AA+        965       992,487  
United States Treasury Note, 2.50%, 02/28/26      Aaa/AA+        948       985,927  
United States Treasury Note, 2.625%, 02/15/29      Aaa/AA+        1,230       1,297,073  
       

 

 

 

TOTAL U.S. TREASURY SECURITIES (Cost of $10,078,885)           10,405,447  
       

 

 

 

GOVERNMENT BONDS (0.45%)        
Colombia Government International Bond, Sr. Unsec. Notes, 5.20%, 05/15/49(b)      Baa2/BBB-        508       575,950  
Perusahaan Penerbit SBSN Indonesia III, Sr. Unsec. Notes, 4.45%, 02/20/29, 144A      Baa2/BBB        424       454,210  
       

 

 

 

TOTAL GOVERNMENT BOND (Cost of $930,510)           1,030,160  
       

 

 

 

            Shares    
PREFERRED STOCK (0.94%)        
CoBank ACB, Series F, 6.250%, (3M LIBOR +4.557%) (b),(c)         20,000     $ 2,117,500  
       

 

 

 

TOTAL PREFERRED STOCK (Cost of $2,085,000)           2,117,500  
       

 

 

 

TOTAL INVESTMENTS (98.93%)

(Cost $204,686,360)

           224,081,291  
       

 

 

 

OTHER ASSETS AND LIABILITIES (1.07%)           2,430,510  
       

 

 

 

NET ASSETS (100.00%)         $     226,511,801  
       

 

 

 

At June 30, 2019, the Fund had the following open futures contracts:

 

Long Futures Outstanding    Expiration
Month		    Number of
Contracts		     

Notional

Amount

     Value    

Unrealized

Appreciation
(Depreciation) 

 

  

U.S. Treasury 5-Year Notes

    09/19      46      $             5,359,652     $             5,435,188     $                 75,536   

U.S. Treasury Ultra 10-Year Notes

    09/19      2        275,682       276,250       568  

U.S. Treasury Ultra Bonds

    09/19      14        2,383,864       2,485,875       102,011  
            

 

 

 

               178,115  
            

 

 

 

Short Futures Outstanding                    

             

U.S. Treasury 10-Year Notes

    09/19      40        (5,012,689 )      (5,118,750 )      (106,061 ) 
            

 

 

 

Net unrealized appreciation on open futures contracts

           $         72,054  
            

 

 

 

 

                                         

(a)

Ratings for debt securities are unaudited. All ratings are as of June 30, 2019 and may have changed subsequently.

 

(b)

This security is callable.

 

(c)

Fixed to floating rate security. Fixed rate indicated is rate effective at June 30, 2019. Security will convert at a future date to a floating rate of reference rate and spread in the description above.

 

(d)

Security is perpetual. Date shown is next call date.

 

(e)

Variable rate security. Rate indicated is rate effective at June 30, 2019.

 

(f)

Multi-Step Coupon. Rate disclosed is as of June 30, 2019.

 

(g)

Principal amount less than $1,000.

 

144A

Securities were purchased pursuant to Rule 144A under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. At June 30, 2019, these securities amounted to $90,967,925 or 40.16% of net assets.

 

The accompanying notes are an integral part of these schedule of investments.

SCHEDULE OF INVESTMENTS (Unaudited) — continued

 

Legend

    
Certs. - Certificates  
Co. Gty. - Company Guaranty  
FHLMC - Federal Home Loan Mortgage Corp.  
FNMA - Federal National Mortgage Association  
FREMF - Freddie Multi-Family  
GNSF - Government National Mortgage Association (Single Family)  
GO - General Obligation  
H15T5Y - US Treasury Yield Curve Rate T Note Constant Maturity 5 Year  
Jr. - Junior  
LIBOR - London Interbank Offered Rate  
LLC - Limited Liability Company  
LP - Limited Partnership  
Ltd. - Limited  
REIT - Real Estate Investment trust  
Sec. - Secured  
Sr. - Senior  
Sub. - Subordinated  
Unsec. - Unsecured  

 

The accompanying notes are an integral part of these schedule of investments.

INSIGHT SELECT INCOME FUND

Notes to the Quarterly Schedule of Investments

June 30, 2019

(unaudited)

A. Security Valuation – In valuing the Insight Select Income Fund’s (the “Fund”) net assets, all securities for which representative market quotations are available will be valued at the last quoted sales price on the security’s principal exchange on the day of valuation. If there are no sales of the relevant security on such day, the security will be valued at the bid price at the time of computation. For securities traded in the over-the-counter market, including listed debt and preferred securities, whose primary market is believed to be over-the-counter, the Fund uses recognized industry pricing services – approved by the Board and unaffiliated with the Adviser - and uses broker quotes provided by market makers of securities not valued by these and other recognized pricing sources.

In the event that market quotations are not readily available, or when such quotations are deemed not to reflect current market value, the securities will be valued at their respective fair value as determined in good faith by the Adviser pursuant to certain procedures and reporting requirements established by the Board of Trustees. The Adviser considers all relevant facts that are reasonably available when determining the fair value of a security, including but not limited to the last sale price or initial purchase price (if a when issued security) and subsequently adjusting the value based on changes in company specific fundamentals, changes in an appropriate securities index, or changes in the value of similar securities which may be further adjusted for any discounts related to security-specific resale restrictions. When possible, observable market inputs such as unadjusted quoted prices of similar securities, observable interest rates, currency rates and yield curves are utilized. At June 30, 2019, there were no securities valued using fair value procedures.

Fair Value Measurements – The Fund has adopted authoritative 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 in 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.
• 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 would be based on the best information available.

Following is a description of the valuation techniques applied to the Fund’s major categories of assets measured at fair value on a recurring basis as of June 30, 2019.

INSIGHT SELECT INCOME FUND

Notes to the Quarterly Schedule of Investments

June 30, 2019 (concluded)

(unaudited)

 

     

Total Market

Value at

6/30/19

     

            Level 1 

            Quoted
             Price

            Level 2
        Significant
         Observable
        Inputs 		    Level 3
Significant
Unobservable
Inputs		  

 

ASSETS:

                                    

CORPORATE DEBT SECURITIES

    $  172,846,069      $             —      $  172,846,069      $                            

ASSET BACKED SECURITIES

      25,138,339        —        25,138,339        —      

COMMERCIAL MORTGAGE-BACKED SECURITIES

      9,555,616        —        9,555,616        —      

RESIDENTIAL MORTGAGE-BACKED SECURITIES

      431,738        —        431,738        —      

MUNICIPAL BONDS

      2,556,422        —        2,556,422        —      

U.S. TREASURY SECURITIES

      10,405,447        —        10,405,447        —      

GOVERNMENT BONDS

      1,030,160        —        1,030,160        —      

PREFERRED STOCK

      2,117,500        2,117,500        —        —      

FUTURES CONTRACTS

      178,115        178,115        —        —      

TOTAL INVESTMENTS

    $  224,259,406      $     2,295,615      $  221,963,791      $                 —      

LIABILITIES:

                                    

FUTURES CONTRACTS

    $         106,061      $       106,061      $             —      $                 —      

At the end of each calendar quarter, management evaluates the Level 1, 2 and 3 assets and liabilities for changes in liquidity, including but not limited to: whether a broker is willing to execute at the quoted price, the depth and consistency of prices from third party services, and the existence of contemporaneous, observable trades in the market. Additionally, management evaluates Level 1 and 2 assets and liabilities on a quarterly basis for changes in listings or delistings on national exchanges. Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Fund’s investments may fluctuate from period to period. Additionally, the fair value of investments may differ significantly from the values that would have been used had a ready market existed for such investments and may differ materially from the values the Fund may ultimately realize. Further, such investments may be subject to legal and other restrictions on resale or otherwise less liquid than publicly traded securities.

Level 3 investments are categorized as Level 3 with values derived utilizing prices from prior transactions or third party pricing information without adjustment (broker quotes, pricing services and net asset values). A significant change in third party pricing information could result in a significantly lower or higher value in such Level 3 investments. As of June 30, 2019, the Fund did not hold any Level 3 securities.

 

 

 

For more information with regards to significant accounting policies, see the most recent semi or annual report filed with the Securities and Exchange Commission.

Item 2. Controls and Procedures.

 

  (a)

The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)).

 

  (b)

There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d))) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits.

Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant)                       Insight Select Income Fund                                         

By (Signature and Title)*        /s/ Clifford D. Corso                                              

                                                  Clifford D. Corso, President

                                                  (Principal Executive Officer)

Date                         8/21/2019                                                                                

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title)*        /s/ Clifford D. Corso                                              

                                                  Clifford D. Corso, President

                                                  (Principal Executive Officer)

Date                         8/21/2019                                                                                

By (Signature and Title)*        /s/ Thomas E. Stabile                                             

                                                  Thomas E. Stabile, Treasurer

                                                  (Principal Financial Officer)

Date                         8/21/2019                                                                                

 

 EX-99.CERT 2 d736393dex99cert.htm 302 CERTIFICATIONS 302 Certifications

Certification Pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the

Sarbanes-Oxley Act

I, Clifford D. Corso, certify that:

 

1.

I have reviewed this report on Form N-Q of Insight Select Income Fund;

 

2.

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.

Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

 

4.

The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

 

  (a)

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

  (b)

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

  (c)

Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

 

  (d)

Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.

The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

  (a)

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

 

  (b)

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date:    8/21/2019            /s/ Clifford D. Corso                        
   Clifford D. Corso, President
   (Principal Executive Officer)

Certification Pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the

Sarbanes-Oxley Act

I, Thomas E. Stabile, certify that:

 

1.

I have reviewed this report on Form N-Q of Insight Select Income Fund;

 

2.

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.

Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

 

4.

The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

 

  (a)

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

  (b)

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

  (c)

Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

 

  (d)

Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.

The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

  (a)

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

 

  (b)

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date:    8/21/2019            /s/ Thomas E. Stabile                         
   Thomas E. Stabile, Treasurer
   (Principal Financial Officer)