Shenkman Capital Floating Rate High Income Fund

Schedule of Investments

June 30, 2022 (Unaudited)

Principal

Fair

Amount

Value

BANK LOANS - 86.00%

AEROSPACE & DEFENSE - 1.06%

Brown Group Holding LLC, Senior Secured First Lien Term Loan 5.349% (1 Month SOFR USD + 3.75%, 0.500% Floor), 07/02/2029 (a)

             537,000

             516,637

Peraton Corp., Senior Secured First Lien Term Loan 5.416% (1 Month LIBOR USD + 3.75%, 0.750% Floor), 02/01/2028 (a)

2,349,305

2,212,541

Transdigm, Inc., Senior Secured First Lien Term Loan 3.916% (1 Month LIBOR USD + 2.25%), 08/22/2024 (a)

526,411

509,165

3,238,343

AUTO RETAIL - 0.55%

CWGS Group, LLC

Senior Secured First Lien Term Loan 3.56% (1 Month LIBOR USD + 2.50%, 0.750% Floor), 06/05/2028 (a)

62,647

56,017

Senior Secured First Lien Term Loan 3.824% (1 Month LIBOR USD + 2.50%, 0.750% Floor), 06/05/2028 (a)

684,074

611,679

Mavis Tire Express Services Topco Corp., Senior Secured First Lien Term Loan 5.625% (1 Month SOFR USD + 4.00%, 0.750% Floor), 05/04/2028 (a)

1,073,560

995,727

1,663,423

AUTOMOTIVE - 0.49%

LS Group Opco Acquisition, LLC, Senior Secured First Lien Term Loan 4.00% (6 Month LIBOR USD + 3.25%, 0.750% Floor), 11/02/2027 (a)

1,004,700

940,650

LTI Holdings, Inc., Senior Secured First Lien Term Loan 5.166% (1 Month LIBOR USD + 3.50%), 09/08/2025 (a)

606,375

565,824

1,506,474

BUILDING PRODUCTS - 1.93%

Cornerstone Building Brands, Inc., Senior Secured First Lien Term Loan 4.574% (1 Month LIBOR USD + 3.25%, 0.500% Floor), 04/12/2028 (a)

756,144

630,908

CPG International, LLC, Senior Secured First Lien Term Loan 4.092% (6 Month SOFR USD + 2.50%, 0.500% Floor), 04/30/2029 (a)

1,259,000

1,174,017

Griffon Corp., Senior Secured First Lien Term Loan 4.355% (1 Month SOFR USD + 2.75%, 0.500% Floor), 01/24/2029 (a)

794,310

760,885

QUIKRETE Holdings, Inc.

Senior Secured First Lien Term Loan 4.291% (1 Month LIBOR USD + 2.625%), 02/01/2027 (a)

1,391,678

1,306,786

Senior Secured First Lien Term Loan 4.666% (1 Month LIBOR USD + 3.00%), 06/11/2028 (a)

1,142,138

1,080,176

TAMKO Building Products, LLC

Senior Secured First Lien Term Loan 4.239% (3 Month LIBOR USD + 3.00%), 05/29/2026 (a)

195,810

184,061

Senior Secured First Lien Term Loan 4.575% (3 Month LIBOR USD + 3.00%), 05/29/2026 (a)

96,285

90,508

Senior Secured First Lien Term Loan 5.25% (3 Month LIBOR USD + 3.00%), 05/29/2026 (a)

91,981

86,462

VC GB Holdings I Corp., Senior Secured First Lien Term Loan 6.377% (3 Month LIBOR USD + 3.50%, 0.500% Floor), 07/21/2028 (a)

659,685

580,114

5,893,917

CHEMICALS - 3.50%

Alpha 3 B.V., Senior Secured First Lien Term Loan 4.166% (1 Month LIBOR USD + 2.50%, 0.500% Floor), 03/17/2028 (a)

643,500

616,419

Colouroz Midco

Senior Secured First Lien Term Loan 5.25% (1 Month LIBOR USD + 4.25%, 1.000% Floor), 09/21/2023 (a)

153,664

135,225

Senior Secured First Lien Term Loan 5.25% (3 Month LIBOR USD + 4.25%, 1.000% Floor), 09/21/2023 (a)

2,728

2,400

Senior Secured First Lien Term Loan 5.25% (1 Month LIBOR USD + 4.25%, 1.000% Floor), 09/21/2023 (a)

25,402

22,354

Senior Secured First Lien Term Loan 5.25% (3 Month LIBOR USD + 4.25%, 1.000% Floor), 09/21/2023 (a)

451

397

HB Fuller Co., Senior Secured First Lien Term Loan 3.595% (1 Month LIBOR USD + 2.00%), 10/21/2024 (a)

190,359

189,967

Ineos U.S. Finance, LLC, Senior Secured First Lien Term Loan 4.166% (1 Month LIBOR USD + 2.50%, 0.500% Floor), 11/06/2028 (a)

718,200

685,436

LSF11 A5 Holdco, LLC, Senior Secured First Lien Term Loan 5.14% (1 Month SOFR USD + 3.50%, 0.500% Floor), 10/16/2028 (a)

458,854

430,607

LSF11 Skyscraper Holdco S.A.R.L., Senior Secured First Lien Term Loan 5.75% (3 Month LIBOR USD + 3.50%, 0.750% Floor), 09/29/2027 (a)

1,517,169

1,464,067

Lummus Technology Holdings V, LLC, Senior Secured First Lien Term Loan 5.166% (1 Month LIBOR USD + 3.50%), 06/30/2027 (a)

981,760

910,057

Olympus Water U.S. Holding Corp., Senior Secured First Lien Term Loan 6.063% (3 Month LIBOR USD + 3.75%, 0.500% Floor), 11/09/2028 (a)

482,339

450,685

Orion Engineered Carbons GmbH, Senior Secured First Lien Term Loan 3.256% (3 Month LIBOR USD + 2.25%, 0.500% Floor), 09/22/2028 (a)

285,840

275,836

PMHC II, Inc., Senior Secured First Lien Term Loan 5.287% (3 Month SOFR USD + 4.25%, 0.500% Floor), 04/23/2029 (a)

1,828,881

1,604,083

Polar U.S. Borrower, LLC, Senior Secured First Lien Term Loan 6.005% (1 Month LIBOR USD + 4.75%), 10/15/2025 (a)

759,286

696,645

PQ Corp., Senior Secured First Lien Term Loan 3.739% (3 Month LIBOR USD + 2.50%, 0.500% Floor), 06/09/2028 (a)

355,410

340,417

PQ Performance Chemicals, Senior Secured First Lien Term Loan 4.62% (1 Month LIBOR USD + 3.50%, 0.750% Floor), 08/02/2028 (a)

526,355

503,985

SCIH Salt Holdings, Inc., Senior Secured First Lien Term Loan 4.75% (6 Month LIBOR USD + 4.00%, 0.750% Floor), 03/16/2027 (a)

817,491

732,676

Spectrum Holdings III Corp., Senior Secured First Lien Term Loan 4.916% (1 Month LIBOR USD + 3.25%, 1.000% Floor), 01/31/2025 (a)

710,130

659,384

Tronox Finance, LLC

Senior Secured First Lien Term Loan 3.916% (1 Month LIBOR USD + 2.25%), 03/10/2028 (a)

70,154

66,997

Senior Secured First Lien Term Loan 4.50% (3 Month LIBOR USD + 2.25%), 03/10/2028 (a)

346,154

330,577

W.R. Grace Holdings, LLC, Senior Secured First Lien Term Loan 6.063% (3 Month LIBOR USD + 3.75%, 0.500% Floor), 09/22/2028 (a)

566,155

538,838

10,657,052

COMMERCIAL SERVICES - 6.10%

AlixPartners, LLP, Senior Secured First Lien Term Loan 4.416% (1 Month LIBOR USD + 2.75%, 0.500% Floor), 02/04/2028 (a)

651,143

620,924

Allied Universal Holdco, LLC, Senior Secured First Lien Term Loan 5.416% (1 Month LIBOR USD + 3.75%, 0.500% Floor), 05/12/2028 (a)

2,027,401

1,862,675

Apex Group Treasury, LLC

Senior Secured First Lien Term Loan 5.325% (3 Month LIBOR USD + 3.75%, 0.500% Floor), 07/27/2028 (a)

548,000

520,600

Senior Secured First Lien Term Loan 6.00% (3 Month LIBOR USD + 3.75%, 0.500% Floor), 07/27/2028 (a)

708,645

673,213

Camelot U.S. Acquisition 1 Co.

Senior Secured First Lien Term Loan 4.666% (1 Month LIBOR USD + 3.00%), 10/30/2026 (a)

785,589

745,328

Senior Secured First Lien Term Loan 4.666% (1 Month LIBOR USD + 3.00%, 1.000% Floor), 10/30/2026 (a)

2,195,055

2,075,238

Corelogic, Inc., Senior Secured First Lien Term Loan 5.188% (1 Month LIBOR USD + 3.50%, 0.500% Floor), 06/02/2028 (a)

1,224,852

1,026,426

Deerfield Dakota Holding, LLC, Senior Secured First Lien Term Loan 5.275% (1 Month SOFR USD + 3.75%, 1.000% Floor), 04/09/2027 (a)

1,342,035

1,260,258

Dun & Bradstreet Corp., Senior Secured First Lien Term Loan 4.874% (1 Month LIBOR USD + 3.25%), 02/06/2026 (a)

1,839,719

1,740,833

EAB Global, Inc., Senior Secured First Lien Term Loan 4.739% (3 Month LIBOR USD + 3.50%, 0.500% Floor), 08/16/2028 (a)

498,913

470,724

Galaxy U.S. Opco, Inc., Senior Secured First Lien Term Loan 6.275% (1 Month SOFR USD + 4.75%, 0.500% Floor), 04/30/2029 (a)

357,000

336,026

Garda World Security Corp.

Senior Secured First Lien Term Loan 5.90% (1 Month LIBOR USD + 4.25%), 10/30/2026 (a)

575,876

535,565

Senior Secured First Lien Term Loan 5.749% (1 Month SOFR USD + 4.25%), 02/01/2029 (a)

500,000

461,250

GI Consilio Parent, LLC, Senior Secured First Lien Term Loan 5.666% (1 Month LIBOR USD + 4.00%, 0.500% Floor), 05/12/2028 (a)

296,982

272,852

Indy U.S. BIDCO, LLC, Senior Secured First Lien Term Loan 5.416% (1 Month LIBOR USD + 3.75%), 03/06/2028 (a)

841,382

783,890

INEOS U.S. Petrochem, LLC, Senior Secured First Lien Term Loan 4.416% (1 Month LIBOR USD + 2.75%, 0.500% Floor), 01/29/2026 (a)

495,000

468,547

IRI Holdings, Inc., Senior Secured First Lien Term Loan 5.916% (1 Month LIBOR USD + 4.25%), 12/01/2025 (a)

2,454,814

2,430,266

Pre-Paid Legal Services, Inc., Senior Secured First Lien Term Loan 5.416% (1 Month LIBOR USD + 3.75%, 0.500% Floor), 12/15/2028 (a)

711,218

665,657

Tempo Acquisition, LLC, Senior Secured First Lien Term Loan 4.416% (1 Month LIBOR USD + 2.75%), 05/01/2024 (a)

194,467

192,401

Trans Union, LLC, Senior Secured First Lien Term Loan 3.916% (1 Month LIBOR USD + 2.25%, 0.500% Floor), 12/01/2028 (a)

1,526,188

1,458,784

18,601,457

CONSTRUCTION & ENGINEERING - 1.40%

Amentum Government Services Holdings, LLC

Senior Secured First Lien Term Loan 5.416% (1 Month LIBOR USD + 3.75%), 02/01/2027 (a)

937,860

895,662

Senior Secured First Lien Term Loan 4.777% (6 Month SOFR USD + 4.00%, 0.500% Floor), 02/15/2029 (a)

362,754

346,431

Senior Secured First Lien Term Loan 5.597% (3 Month SOFR USD + 4.00%, 0.500% Floor), 02/15/2029 (a)

322,246

307,747

American Residential Services, LLC, Senior Secured First Lien Term Loan 5.75% (3 Month LIBOR USD + 3.50%, 0.750% Floor), 10/15/2027 (a)

668,815

627,850

Api Group, Inc, Senior Secured First Lien Term Loan 4.166% (1 Month LIBOR USD + 2.50%), 10/01/2026 (a)

556,066

535,909

Brand Industrial Services, Inc.

Senior Secured First Lien Term Loan 5.25% (3 Month LIBOR USD + 4.25%, 1.000% Floor), 06/21/2024 (a)

85,172

74,113

Senior Secured First Lien Term Loan 5.434% (3 Month LIBOR USD + 4.25%, 1.000% Floor), 06/21/2024 (a)

344,145

299,462

Senior Secured First Lien Term Loan 6.50% (3 Month LIBOR USD + 4.25%, 1.000% Floor), 06/21/2024 (a)

2,272

1,977

Centuri Group, Inc., Senior Secured First Lien Term Loan 4.075% (3 Month LIBOR USD + 2.50%, 0.500% Floor), 08/28/2028 (a)

673,097

646,597

Tiger Acquisition, LLC, Senior Secured First Lien Term Loan 4.916% (1 Month LIBOR USD + 3.25%, 0.500% Floor), 06/01/2028 (a)

590,538

532,272

4,268,020

CONSUMER DISCRETIONARY - 1.45%

Champ Acquisition Corp., Senior Secured First Lien Term Loan 6.506% (3 Month LIBOR USD + 5.50%), 12/19/2025 (a)

171,454

167,061

Houghton Mifflin Harcourt Co., Senior Secured First Lien Term Loan 6.875% (1 Month SOFR USD + 5.25%, 0.500% Floor), 04/09/2029 (a)

1,225,000

1,113,991

Learning Care Group (U.S.) No. 2, Inc.

Senior Secured First Lien Term Loan 4.475% (6 Month LIBOR USD + 3.25%, 1.000% Floor), 03/13/2025 (a)

345,545

320,924

Senior Secured First Lien Term Loan 4.489% (3 Month LIBOR USD + 3.25%, 1.000% Floor), 03/13/2025 (a)

86,386

80,231

Senior Secured First Lien Term Loan 4.916% (1 Month LIBOR USD + 3.25%, 1.000% Floor), 03/13/2025 (a)

23,000

21,362

Prometric Holdings, Inc., Senior Secured First Lien Term Loan 4.67% (1 Month LIBOR USD + 3.00%, 1.000% Floor), 01/29/2025 (a)

958,736

894,821

Renaissance Holding Corp., Senior Secured First Lien Term Loan 5.581% (1 Month SOFR USD + 4.50%, 0.500% Floor), 03/30/2029 (a)

736,392

705,710

Tory Burch, LLC, Senior Secured First Lien Term Loan 4.06% (1 Month LIBOR USD + 3.00%, 0.500% Floor), 04/14/2028 (a)

371,250

334,706

Wand NewCo 3, Inc., Senior Secured First Lien Term Loan 4.666% (1 Month LIBOR USD + 3.00%), 02/05/2026 (a)

633,735

590,366

WW International, Inc., Senior Secured First Lien Term Loan 5.166% (1 Month LIBOR USD + 3.50%, 0.500% Floor), 04/13/2028 (a)

233,415

185,332

4,414,504

CONSUMER NON-DISCRETIONARY - 0.23%

Kronos Acquisition Holdings, Inc., Senior Secured First Lien Term Loan 5.416% (1 Month LIBOR USD + 3.75%, 0.500% Floor), 12/22/2026 (a)

773,225

705,181

ENVIRONMENTAL SERVICES - 1.30%

Belfor Holdings, Inc., Senior Secured First Lien Term Loan 5.416% (1 Month LIBOR USD + 3.75%), 04/06/2026 (a)

500,328

485,318

Brightview Landscapes, LLC, Senior Secured First Lien Term Loan 4.775% (1 Month SOFR USD + 3.25%, 0.500% Floor), 04/20/2029 (a)

759,000

725,794

Covanta Holding Corp.

Senior Secured First Lien Term Loan 4.166% (1 Month LIBOR USD + 2.50%, 0.500% Floor), 11/30/2028 (a)

616,184

584,297

Senior Secured First Lien Term Loan 4.166% (1 Month LIBOR USD + 2.50%, 0.500% Floor), 11/30/2028 (a)

46,272

43,877

Strategic Materials Holdings Corp., Senior Secured First Lien Term Loan 4.75% (3 Month LIBOR USD + 3.75%, 1.000% Floor), 11/01/2024 (a)

909,625

758,400

WIN Waste Innovations Holdings, Inc., Senior Secured First Lien Term Loan 5.00% (3 Month LIBOR USD + 2.75%, 0.500% Floor), 03/24/2028 (a)

1,440,450

1,372,388

3,970,074

FINANCIALS - CONSUMER FINANCE - 0.27%

American Auto Auction Group, LLC, Senior Secured First Lien Term Loan 7.054% (3 Month SOFR USD + 5.00%, 0.750% Floor), 12/30/2027 (a)

888,535

834,392

FINANCIALS - DIVERSIFIED - 1.62%

Blackstone Mortgage Trust, Inc.

Senior Secured First Lien Term Loan 3.916% (1 Month LIBOR USD + 2.25%), 04/23/2026 (a)

568,913

538,333

Senior Secured First Lien Term Loan 5.025% (1 Month SOFR USD + 3.50%, 0.500% Floor), 05/09/2029 (a)

770,000

745,938

Focus Financial Partners, LLC, Senior Secured First Lien Term Loan 3.666% (1 Month LIBOR USD + 2.00%), 07/03/2024 (a)

607,575

584,964

Option Care Health, Inc., Senior Secured First Lien Term Loan 4.416% (1 Month LIBOR USD + 2.75%, 0.500% Floor), 10/27/2028 (a)

772,120

740,590

Starwood Property Mortgage, LLC, Senior Secured First Lien Term Loan 4.166% (1 Month LIBOR USD + 2.50%), 07/27/2026 (a)

461,938

445,770

Tecta America Corp., Senior Secured First Lien Term Loan 5.916% (1 Month LIBOR USD + 4.25%, 0.750% Floor), 04/06/2028 (a)

917,178

859,854

VFH Parent, LLC, Senior Secured First Lien Term Loan 4.434% (1 Month SOFR USD + 3.00%, 0.500% Floor), 01/12/2029 (a)

1,075,000

1,021,701

4,937,150

FINANCIALS - INSURANCE - 2.99%

Acrisure, LLC

Senior Secured First Lien Term Loan 4.56% (1 Month LIBOR USD + 3.50%), 02/16/2027 (a)

639,659

589,126

Senior Secured First Lien Term Loan 5.916% (1 Month LIBOR USD + 4.25%, 0.500% Floor), 02/16/2027 (a)

263,675

249,613

AssuredPartners, Inc.

Senior Secured First Lien Term Loan 5.166% (1 Month LIBOR USD + 3.50%), 02/12/2027 (a)

640,199

601,387

Senior Secured First Lien Term Loan 5.166% (1 Month LIBOR USD + 3.50%, 0.500% Floor), 02/12/2027 (a)

361,350

339,669

Asurion, LLC

Senior Secured First Lien Term Loan 4.916% (1 Month LIBOR USD + 3.25%), 12/23/2026 (a)

3,382,478

3,075,958

Senior Secured First Lien Term Loan 4.916% (1 Month LIBOR USD + 3.25%), 07/30/2027 (a)

1,547,331

1,404,203

Senior Secured Second Lien Term Loan 6.916% (1 Month LIBOR USD + 5.25%), 01/31/2028 (a)

340,000

291,975

Senior Secured Second Lien Term Loan 6.916% (1 Month LIBOR USD + 5.25%), 01/19/2029 (a)

820,000

700,690

HUB International, Ltd., Senior Secured First Lien Term Loan 4.348% (3 Month LIBOR USD + 3.25%, 0.750% Floor), 04/25/2025 (a)

1,972,190

1,875,711

9,128,332

FOOD & BEVERAGE - 1.40%

Froneri U.S., Inc., Senior Secured First Lien Term Loan 3.916% (1 Month LIBOR USD + 2.25%), 01/29/2027 (a)

637,000

587,900

H-Food Holdings, LLC

Senior Secured First Lien Term Loan 5.354% (1 Month LIBOR USD + 3.6875%), 05/23/2025 (a)

873,600

787,695

Senior Secured First Lien Term Loan 5.666% (1 Month LIBOR USD + 4.00%), 05/23/2025 (a)

120,625

109,920

Pegasus Bidco B.V., Senior Secured First Lien Term Loan 4.75%, 04/20/2029 (a)(g)

991,000

942,689

Sunshine Investments B.V., Senior Secured First Lien Term Loan 4.194% (3 Month LIBOR USD + 2.75%), 03/28/2025 (a)

232,800

228,144

Triton Water Holdings, Inc., Senior Secured First Lien Term Loan 5.75% (3 Month LIBOR USD + 3.50%, 0.500% Floor), 03/31/2028 (a)

1,823,855

1,621,278

4,277,626

HEALTHCARE - EQUIPMENT & SUPPLIES - 4.00%

athenahealth Group, Inc.

Senior Secured First Lien Delayed-Draw Term Loan 4.50%, 01/14/2027 (a)(g)(i)

275,217

254,233

Senior Secured First Lien Term Loan 5.009% (1 Month SOFR USD + 3.50%, 0.500% Floor), 02/15/2029 (a)

1,623,783

1,499,977

Aveanna Healthcare, LLC

Senior Secured First Lien Delayed-Draw Term Loan 4.50%, 06/30/2028 (a)(g)

121,237

107,446

Senior Secured First Lien Term Loan 5.345% (1 Month LIBOR USD + 3.75%, 0.500% Floor), 07/17/2028 (a)

517,408

458,552

Bausch & Lomb Corp., Senior Secured First Lien Term Loan 4.549% (1 Month SOFR USD + 3.25%, 0.500% Floor), 05/10/2027 (a)

761,000

711,155

Change Healthcare Holdings, Inc., Senior Secured First Lien Term Loan 3.56% (1 Month LIBOR USD + 2.50%, 1.000% Floor), 03/01/2024 (a)

1,559,600

1,521,982

CHG Healthcare Services, Inc., Senior Secured First Lien Term Loan 4.75% (3 Month LIBOR USD + 3.25%, 0.500% Floor), 09/29/2028 (a)

1,026,245

973,392

Embecta Corp., Senior Secured First Lien Term Loan 5.054% (3 Month SOFR USD + 3.00%, 0.500% Floor), 03/30/2029 (a)

410,363

388,819

Greatbatch, Ltd., Senior Secured First Lien Term Loan 4.166% (1 Month LIBOR USD + 2.50%, 0.500% Floor), 09/02/2028 (a)

744,375

729,581

Greenway Health, LLC, Senior Secured First Lien Term Loan 6.627% (6 Month LIBOR USD + 3.75%, 1.000% Floor), 02/16/2024 (a)

617,500

562,543

Insulet Corp., Senior Secured First Lien Term Loan 4.916% (1 Month LIBOR USD + 3.25%, 0.500% Floor), 05/04/2028 (a)

772,200

735,521

Medline Borrower, L.P., Senior Secured First Lien Term Loan 4.916% (1 Month LIBOR USD + 3.25%, 0.500% Floor), 10/23/2028 (a)

1,760,588

1,638,174

Milano Acquisition Corp., Senior Secured First Lien Term Loan 6.25% (3 Month LIBOR USD + 4.00%, 0.750% Floor), 10/01/2027 (a)

932,195

884,131

MPH Acquisition Holdings, LLC, Senior Secured First Lien Term Loan 5.825% (3 Month LIBOR USD + 4.25%, 0.500% Floor), 09/01/2028 (a)

855,535

790,087

Navicure, Inc., Senior Secured First Lien Term Loan 5.666% (1 Month LIBOR USD + 4.00%), 10/22/2026 (a)

989,023

940,808

12,196,401

HEALTHCARE - FACILITIES - 2.98%

ADMI Corp.

Senior Secured First Lien Term Loan 5.041% (1 Month LIBOR USD + 3.375%, 0.500% Floor), 12/23/2027 (a)

644,951

589,556

Senior Secured First Lien Term Loan 5.166% (1 Month LIBOR USD + 3.50%, 0.500% Floor), 12/23/2027 (a)

645,125

592,980

Electron Bidco, Inc., Senior Secured First Lien Term Loan 4.666% (1 Month LIBOR USD + 3.00%, 0.500% Floor), 11/01/2028 (a)

1,403,483

1,318,151

Global Medical Response, Inc.

Senior Secured First Lien Term Loan 5.916% (1 Month LIBOR USD + 4.25%, 1.000% Floor), 03/14/2025 (a)

527,460

492,133

Senior Secured First Lien Term Loan 5.25% (3 Month LIBOR USD + 4.25%, 1.000% Floor), 10/02/2025 (a)

323,487

301,753

Heartland Dental, LLC

Senior Secured First Lien Term Loan 5.166% (1 Month LIBOR USD + 3.50%), 04/30/2025 (a)

807,070

751,334

Senior Secured First Lien Term Loan 5.642% (1 Month LIBOR USD + 4.00%), 04/30/2025 (a)

1,113,750

1,045,254

Pluto Acquisition I, Inc., Senior Secured First Lien Term Loan 6.076% (6 Month LIBOR USD + 4.00%), 06/22/2026 (a)

1,057,086

926,272

Premier Dental Services, Inc.

Senior Secured First Lien Delayed-Draw Term Loan 5.25% (1 Month LIBOR USD + 4.50%, 0.750% Floor), 08/18/2028 (a)(i)

4,584

4,295

Senior Secured First Lien Delayed-Draw Term Loan 5.25% (3 Month LIBOR USD + 4.50%, 0.750% Floor), 08/18/2028 (a)(i)

9,169

8,590

Senior Secured First Lien Delayed-Draw Term Loan 5.304% (6 Month LIBOR USD + 4.50%, 0.750% Floor), 08/18/2028 (a)(i)

4,865

4,558

Senior Secured First Lien Delayed-Draw Term Loan 5.755% (1 Month LIBOR USD + 4.50%, 0.750% Floor), 08/18/2028 (a)(i)

13,019

12,197

Senior Secured First Lien Term Loan 6.006% (3 Month LIBOR USD + 4.50%, 0.750% Floor), 08/18/2028 (a)

309,685

290,138

RegionalCare Hospital Partners Holdings, Inc., Senior Secured First Lien Term Loan 4.81% (1 Month LIBOR USD + 3.75%), 11/14/2025 (a)

500,000

467,930

Sotera Health Holdings, LLC, Senior Secured First Lien Term Loan 4.416% (1 Month LIBOR USD + 2.75%, 0.500% Floor), 12/11/2026 (a)

866,000

825,948

U.S. Radiology Specialists, Inc., Senior Secured First Lien Term Loan 6.256% (3 Month LIBOR USD + 5.25%, 0.500% Floor), 12/15/2027 (a)

724,360

644,680

Vizient, Inc., Senior Secured First Lien Term Loan 3.684% (1 Month SOFR USD + 2.25%, 0.500% Floor), 04/27/2029 (a)

817,000

812,551

9,088,320

HEALTHCARE - LIFE SCIENCES - 1.73%

Avantor Funding, Inc., Senior Secured First Lien Term Loan 3.916% (1 Month LIBOR USD + 2.25%, 0.500% Floor), 11/08/2027 (a)

723,268

697,278

Cambrex Corp., Senior Secured First Lien Term Loan 5.025% (1 Month SOFR USD + 3.50%, 0.750% Floor), 12/04/2026 (a)

1,523,215

1,448,958

Curia Global, Inc., Senior Secured First Lien Term Loan 4.989% (3 Month LIBOR USD + 3.75%, 0.750% Floor), 08/31/2026 (a)

1,655,455

1,567,170

ICON Luxembourg S.A.R.L., Senior Secured First Lien Term Loan 4.563% (3 Month LIBOR USD + 2.25%, 0.500% Floor), 07/03/2028 (a)

639,849

619,809

Phoenix Newco, Inc., Senior Secured First Lien Term Loan 4.31% (1 Month LIBOR USD + 3.25%, 0.500% Floor), 11/15/2028 (a)

829,920

781,577

PRA Health Sciences, Inc., Senior Secured First Lien Term Loan 4.563% (3 Month LIBOR USD + 2.25%, 0.500% Floor), 07/03/2028 (a)

159,419

154,426

5,269,218

HEALTHCARE - MANAGED HEALTH CARE - 0.54%

Bella Holding Co., LLC, Senior Secured First Lien Term Loan 5.416% (1 Month LIBOR USD + 3.75%, 0.750% Floor), 05/10/2028 (a)

457,543

429,861

Verscend Holding Corp., Senior Secured First Lien Term Loan 5.666% (1 Month LIBOR USD + 4.00%), 08/27/2025 (a)

1,265,221

1,214,612

1,644,473

HEALTHCARE - PHARMACEUTICALS & BIOTECHNOLOGY - 0.76%

Jazz Pharmaceuticals, Inc., Senior Secured First Lien Term Loan 5.166% (1 Month LIBOR USD + 3.50%, 0.500% Floor), 05/05/2028 (a)

673,200

643,956

Organon & Co., Senior Secured First Lien Term Loan 4.625% (6 Month LIBOR USD + 3.00%, 0.500% Floor), 06/02/2028 (a)

1,288,807

1,243,834

Perrigo Investments, LLC, Senior Secured First Lien Term Loan 3.645% (1 Month SOFR USD + 2.50%, 0.500% Floor), 04/20/2029 (a)

450,000

434,813

2,322,603

HEALTHCARE - REITs - 0.25%

AHP Health Partners, Inc., Senior Secured First Lien Term Loan 5.166% (1 Month LIBOR USD + 3.50%, 0.500% Floor), 08/24/2028 (a)

791,023

748,999

INDUSTRIAL MACHINERY - 3.66%

AI Aqua Merger Sub, Inc.,, Senior Secured First Lien Term Loan 4.838% (1 Month SOFR USD + 3.75%, 0.500% Floor), 07/31/2028 (a)

910,000

831,513

Ali Group North America Corp., Senior Secured First Lien Term Loan 2.131%, 11/30/2028 (a)(g)

695,000

666,505

ASP Blade Holdings, Inc., Senior Secured First Lien Term Loan 5.666% (1 Month LIBOR USD + 4.00%, 0.500% Floor), 10/13/2028 (a)

1,000,271

883,569

AZZ, Inc., Senior Secured First Lien Term Loan 5.384% (1 Month SOFR USD + 4.25%, 0.500% Floor), 05/11/2029 (a)

701,000

671,208

Brookfield WEC Holdings, Inc., Senior Secured First Lien Term Loan 4.416% (1 Month LIBOR USD + 2.75%, 0.500% Floor), 08/01/2025 (a)

1,705,157

1,616,796

Clark Equipment Co., Senior Secured First Lien Term Loan 4.654% (3 Month SOFR USD + 2.50%, 0.500% Floor), 04/20/2029 (a)

449,873

434,689

Columbus McKinnon Corp., Senior Secured First Lien Term Loan 5.063% (3 Month LIBOR USD + 2.75%, 0.500% Floor), 05/15/2028 (a)

423,236

405,778

Conair Holdings, LLC, Senior Secured First Lien Term Loan 6.00% (3 Month LIBOR USD + 3.75%, 0.500% Floor), 05/17/2028 (a)

611,535

514,707

CPM Holdings, Inc.

Senior Secured First Lien Term Loan 4.562% (1 Month LIBOR USD + 3.50%), 11/17/2025 (a)

425,588

407,394

Senior Secured Second Lien Term Loan 9.312% (1 Month LIBOR USD + 8.25%), 11/16/2026 (a)

219,444

211,764

Filtration Group Corp., Senior Secured First Lien Term Loan 5.166% (1 Month LIBOR USD + 3.50%, 0.500% Floor), 10/20/2028 (a)

1,434,163

1,344,527

Madison IAQ, LLC, Senior Secured First Lien Term Loan 4.524% (6 Month LIBOR USD + 3.25%, 0.500% Floor), 06/21/2028 (a)

604,890

552,591

Penn Engineering & Manufacturing Corp., Senior Secured First Lien Term Loan 4.75% (3 Month LIBOR USD + 2.50%, 1.000% Floor), 06/27/2024 (a)

587,329

565,304

Pro Mach Group, Inc.

Senior Secured First Lien Term Loan 5.666% (1 Month LIBOR USD + 4.00%, 1.000% Floor), 08/31/2028 (a)

935,472

884,900

Senior Secured First Lien Delayed-Draw Term Loan 5.00%, 09/29/2028 (a)(g)(i)

46,869

44,335

TK Elevator Midco GMBH, Senior Secured First Lien Term Loan 4.019% (6 Month LIBOR USD + 3.50%, 0.500% Floor), 07/30/2027 (a)

615,329

578,028

Vertiv Group Corp., Senior Secured First Lien Term Loan 3.87% (1 Month LIBOR USD + 2.75%), 03/02/2027 (a)

577,439

538,462

11,152,070

LEISURE - CASINOS & GAMING - 3.02%

Aristocrat Technologies, Inc., Senior Secured First Lien Term Loan 4.304% (3 Month SOFR USD + 2.25%, 0.500% Floor), 05/24/2029 (a)

448,285

434,388

Bally's Corp., Senior Secured First Lien Term Loan 4.37% (1 Month LIBOR USD + 3.25%, 0.500% Floor), 10/02/2028 (a)

421,997

393,050

Entain Holdings (Gibraltar), Ltd., Senior Secured First Lien Term Loan 3.743% (6 Month LIBOR USD + 2.25%, 0.500% Floor), 03/29/2027 (a)

739,530

711,983

Everi Holdings, Inc., Senior Secured First Lien Term Loan 4.75% (1 Month LIBOR USD + 2.50%, 0.500% Floor), 08/03/2028 (a)

461,513

443,700

Fertitta Entertainment, LLC, Senior Secured First Lien Term Loan 5.525% (1 Month SOFR USD + 4.00%, 0.500% Floor), 01/29/2029 (a)

1,060,200

980,690

Golden Entertainment, Inc., Senior Secured First Lien Term Loan 4.63% (1 Month LIBOR USD + 3.00%, 0.750% Floor), 10/21/2024 (a)

479,092

468,313

Penn National Gaming, Inc., Senior Secured First Lien Term Loan 4.275% (1 Month SOFR USD + 2.75%, 0.500% Floor), 05/03/2029 (a)

1,513,600

1,455,901

Scientific Games International, Inc., Senior Secured First Lien Term Loan 4.358% (1 Month SOFR USD + 3.00%, 0.500% Floor), 04/16/2029 (a)

868,000

826,588

Stars Group Holdings B.V., Senior Secured First Lien Term Loan 3.256% (3 Month LIBOR USD + 2.25%), 07/21/2026 (a)

3,669,076

3,500,042

9,214,655

LEISURE - HOTELS - 1.67%

Alterra Mountain Co., Senior Secured First Lien Term Loan 5.166% (1 Month LIBOR USD + 3.50%, 0.500% Floor), 08/17/2028 (a)

1,818,634

1,734,522

Carnival Corp., Senior Secured First Lien Term Loan 6.127% (6 Month LIBOR USD + 3.25%, 0.750% Floor), 10/18/2028 (a)

488,545

439,691

Herschend Entertainment Co., LLC, Senior Secured First Lien Term Loan 5.44% (1 Month LIBOR USD + 3.75%, 0.500% Floor), 08/28/2028 (a)

1,194,726

1,142,457

Hilton Grand Vacations Borrower, LLC, Senior Secured First Lien Term Loan 4.666% (1 Month LIBOR USD + 3.00%, 0.500% Floor), 08/02/2028 (a)

440,670

413,957

Lakeland Tours, LLC

Senior Secured First Lien Term Loan 2.75% (1 Month LIBOR USD + 1.50%, 1.250% Floor), 09/25/2025 (a)

234,807

213,674

Senior Unsecured First Lien Term Loan 13.25%, 09/27/2027

274,409

188,885

United PF Holdings, LLC, Senior Secured First Lien Term Loan 6.25% (3 Month LIBOR USD + 4.00%), 12/30/2026 (a)

1,044,330

959,478

5,092,664

LEISURE - RESTAURANTS - 1.36%

Dave & Buster's, Inc., Senior Secured First Lien Term Loan 6.618% (1 Month SOFR USD + 5.00%, 0.500% Floor), 06/29/2029 (a)

547,000

522,046

IRB Holding Corp.

Senior Secured First Lien Term Loan 4.416% (1 Month LIBOR USD + 2.75%, 1.000% Floor), 02/05/2025 (a)

738,526

702,061

Senior Secured First Lien Term Loan 4.238% (1 Month SOFR USD + 3.00%, 0.750% Floor), 12/15/2027 (a)

1,296,817

1,220,629

Tacala, LLC, Senior Secured First Lien Term Loan 5.166% (1 Month LIBOR USD + 3.50%, 0.750% Floor), 02/05/2027 (a)

897,799

842,198

Whatabrands, LLC, Senior Secured First Lien Term Loan 4.916% (1 Month LIBOR USD + 3.25%, 0.500% Floor), 08/03/2028 (a)

906,445

852,199

4,139,133

MEDIA - BROADCASTING - 2.35%

Diamond Sports Group, LLC, Senior Secured Second Lien Term Loan 4.431% (1 Month SOFR USD + 3.25%), 08/24/2026 (a)

670,257

163,094

EW Scripps Co.

Senior Secured First Lien Term Loan 4.229% (1 Month LIBOR USD + 2.5625%, 0.750% Floor), 05/01/2026 (a)

869,375

834,709

Senior Secured First Lien Term Loan 4.416% (1 Month LIBOR USD + 2.75%, 0.750% Floor), 01/07/2028 (a)

1,035,805

983,155

Gray Television, Inc., Senior Secured First Lien Term Loan 4.062% (1 Month LIBOR USD + 3.00%), 12/01/2028 (a)

1,736,275

1,666,355

Hubbard Radio, LLC, Senior Secured First Lien Term Loan 5.92% (1 Month LIBOR USD + 4.25%, 1.000% Floor), 03/28/2025 (a)

545,538

526,444

Learfield Communications, LLC, Senior Secured First Lien Term Loan 4.92% (1 Month LIBOR USD + 3.25%, 1.000% Floor), 12/01/2023 (a)

735,396

650,825

Nexstar Broadcasting, Inc., Senior Secured First Lien Term Loan 4.166% (1 Month LIBOR USD + 2.50%), 09/18/2026 (a)

771,819

762,866

Sinclair Television Group, Inc., Senior Secured First Lien Term Loan 4.17% (1 Month LIBOR USD + 2.50%), 09/30/2026 (a)

919,013

840,896

Univision Communications, Inc.

Senior Secured First Lien Term Loan 4.416% (1 Month LIBOR USD + 2.75%, 1.000% Floor), 03/15/2024 (a)

227,784

224,606

Senior Secured First Lien Term Loan 6.254% (3 Month SOFR USD + 4.25%, 0.500% Floor), 06/25/2029 (a)

523,000

499,899

7,152,849

MEDIA - CABLE & SATELLITE - 4.62%

Connect U.S. Finco, LLC, Senior Secured First Lien Term Loan 5.17% (1 Month LIBOR USD + 3.50%, 1.000% Floor), 12/11/2026 (a)

2,661,342

2,456,752

Coral-U.S. Co-Borrower, LLC, Senior Secured First Lien Term Loan 3.574% (1 Month LIBOR USD + 2.25%), 01/31/2028 (a)

585,000

547,288

DIRECTV Financing, LLC, Senior Secured First Lien Term Loan 6.666% (1 Month LIBOR USD + 5.00%, 0.750% Floor), 08/02/2027 (a)

1,493,565

1,379,375

Iridium Satellite, LLC, Senior Secured First Lien Term Loan 4.166% (1 Month LIBOR USD + 2.50%, 0.750% Floor), 11/04/2026 (a)

589,184

566,984

Maxar Technologies, Ltd., Senior Secured First Lien Term Loan 5.338%, 06/29/2029 (a)(g)

1,366,075

1,298,912

Radiate Holdco, LLC, Senior Secured First Lien Term Loan 4.916% (1 Month LIBOR USD + 3.25%, 0.750% Floor), 09/25/2026 (a)

970,696

904,995

Telenet Financing USD, LLC, Senior Secured First Lien Term Loan 3.324% (1 Month LIBOR USD + 2.00%), 04/28/2028 (a)

2,230,000

2,070,176

Telesat Canada, Senior Secured First Lien Term Loan 4.42% (1 Month LIBOR USD + 2.75%), 12/07/2026 (a)

1,292,907

909,883

UPC Financing Partnership, Senior Secured First Lien Term Loan 3.574% (1 Month LIBOR USD + 2.25%), 04/28/2028 (a)

765,000

729,810

Virgin Media Bristol, LLC, Senior Secured First Lien Term Loan 3.824% (1 Month LIBOR USD + 2.50%), 01/31/2028 (a)

1,035,000

972,320

WideOpenWest Finance, LLC, Senior Secured First Lien Term Loan 4.509% (1 Month SOFR USD + 3.00%, 0.500% Floor), 12/20/2028 (a)

741,275

717,317

Xplornet Communications, Inc., Senior Secured First Lien Term Loan 5.06% (1 Month LIBOR USD + 4.00%, 0.500% Floor), 10/02/2028 (a)

1,674,382

1,534,973

14,088,785

MEDIA - DIVERSIFIED - 2.02%

ABG Intermediate Holdings 2, LLC, Senior Secured First Lien Term Loan 4.916% (1 Month LIBOR USD + 3.25%, 0.750% Floor), 09/27/2024 (a)

2,520,379

2,422,714

Arches Buyer, Inc., Senior Secured First Lien Term Loan 4.916% (1 Month LIBOR USD + 3.25%, 0.500% Floor), 12/06/2027 (a)

1,318,169

1,206,124

Buzz Finco, LLC

Senior Secured First Lien Term Loan 4.416% (1 Month LIBOR USD + 2.75%), 01/29/2027 (a)

615,825

584,264

Senior Secured First Lien Term Loan 4.916% (1 Month LIBOR USD + 3.25%, 0.500% Floor), 01/29/2027 (a)

93,705

89,722

Dotdash Meredith, Inc., Senior Secured First Lien Term Loan 5.145% (1 Month SOFR USD + 4.00%, 0.500% Floor), 12/01/2028 (a)

746,250

699,609

Getty Images, Inc., Senior Secured First Lien Term Loan 6.125% (3 Month LIBOR USD + 4.50%), 02/19/2026 (a)

839,097

813,505

Red Ventures, LLC, Senior Secured First Lien Term Loan 4.166% (1 Month LIBOR USD + 2.50%), 11/08/2024 (a)

365,554

357,329

6,173,267

MEDIA - ENTERTAINMENT - 3.49%

CDS U.S. Intermediate Holdings, Inc., Senior Secured First Lien Term Loan 8.232% (3 Month LIBOR USD + 6.00%, 1.000% Floor), 11/24/2025 (a)

642,873

632,610

Cirque Du Soleil Holding

Senior Secured Second Lien Term Loan 2.00% (3 Month LIBOR USD + 1.00%, 1.000% Floor), 11/24/2027 (a)

40,978

40,318

Senior Secured Second Lien Term Loan 3.232% (3 Month LIBOR USD + 1.00%, 1.000% Floor), 11/24/2027 (a)

345,292

339,729

Creative Artists Agency, LLC

Senior Secured First Lien Term Loan 4.812% (1 Month LIBOR USD + 3.75%), 11/26/2026 (a)

1,051,210

1,001,671

Senior Secured First Lien Term Loan 5.736% (1 Month SOFR USD + 4.25%, 1.000% Floor), 11/27/2026 (a)

175,000

168,656

Crown Finance U.S., Inc.

Senior Secured First Lien Term Loan 7.00%, 05/23/2024

334,000

374,723

Senior Secured First Lien Term Loan 4.25% (6 Month LIBOR USD + 2.75%, 1.000% Floor), 09/30/2026 (a)

1,489,347

922,204

Lions Gate Capital Holdings, LLC, Senior Secured First Lien Term Loan 3.916% (1 Month LIBOR USD + 2.25%), 03/24/2025 (a)

432,698

419,449

Nascar Holdings, LLC, Senior Secured First Lien Term Loan 4.166% (1 Month LIBOR USD + 2.50%), 10/19/2026 (a)

472,637

455,740

Playtika Holding Corp., Senior Secured First Lien Term Loan 4.416% (1 Month LIBOR USD + 2.75%), 03/13/2028 (a)

2,397,376

2,266,528

UFC Holdings, LLC, Senior Secured First Lien Term Loan 3.50% (6 Month LIBOR USD + 2.75%, 0.750% Floor), 04/29/2026 (a)

1,376,252

1,286,108

William Morris Endeavor Entertainment, LLC, Senior Secured First Lien Term Loan 4.42% (1 Month LIBOR USD + 2.75%), 05/16/2025 (a)

2,383,688

2,251,311

WMG Acquisition Corp., Senior Secured First Lien Term Loan 3.791% (1 Month LIBOR USD + 2.125%), 01/20/2028 (a)

498,077

479,710

10,638,757

METALS & MINING - 0.44%

Atkore International, Inc., Senior Secured First Lien Term Loan 4.313% (3 Month LIBOR USD + 2.00%, 0.500% Floor), 05/26/2028 (a)

386,988

384,449

GrafTech Finance, Inc., Senior Secured First Lien Term Loan 4.666% (1 Month LIBOR USD + 3.00%, 0.500% Floor), 02/12/2025 (a)

205,729

199,944

Grinding Media, Inc., Senior Secured First Lien Term Loan 4.796% (3 Month LIBOR USD + 4.00%, 0.750% Floor), 10/12/2028 (a)

829,730

759,203

1,343,596

MIDSTREAM - STORAGE & TRANSPORT - 1.68%

Buckeye Partners, L.P., Senior Secured First Lien Term Loan 3.916% (1 Month LIBOR USD + 2.25%), 11/02/2026 (a)

679,441

651,733

DT Midstream, Inc., Senior Secured First Lien Term Loan 3.688% (1 Month LIBOR USD + 2.00%, 0.500% Floor), 06/26/2028 (a)

229,614

229,345

ITT Holdings, LLC, Senior Secured First Lien Term Loan 4.416% (1 Month LIBOR USD + 2.75%, 0.500% Floor), 07/10/2028 (a)

575,650

552,336

Lucid Energy Group II Borrower, LLC, Senior Secured First Lien Term Loan 5.874% (1 Month LIBOR USD + 4.25%, 0.750% Floor), 11/22/2028 (a)

779,085

771,158

Northriver Midstream Finance, L.P., Senior Secured First Lien Term Loan 4.217% (3 Month LIBOR USD + 3.25%), 10/01/2025 (a)

726,688

710,660

Oryx Midstream Services Permian Basin, LLC, Senior Secured First Lien Term Loan 4.705% (3 Month LIBOR USD + 3.25%, 0.500% Floor), 10/05/2028 (a)

1,283,550

1,224,725

TransMontaigne Operating Co., L.P.

Senior Secured First Lien Term Loan 4.054% (6 Month LIBOR USD + 3.50%, 0.500% Floor), 11/17/2028 (a)

517,204

491,235

Senior Secured First Lien Term Loan 5.095% (1 Month LIBOR USD + 3.50%, 0.500% Floor), 11/17/2028 (a)

517,204

491,235

5,122,427

OIL & GAS - EQUIPMENT & SERVICES - 0.13%

U.S. Silica Co., Senior Secured First Lien Term Loan 5.688% (1 Month LIBOR USD + 4.00%, 1.000% Floor), 05/01/2025 (a)

402,004

388,229

OIL & GAS - EXPLORATION & PRODUCTION - 0.19%

Southwestern Energy Co., Senior Secured First Lien Term Loan 4.704% (3 Month SOFR USD + 2.50%, 0.500% Floor), 06/22/2027 (a)

596,005

581,105

PACKAGING - 2.06%

Clydesdale Acquisition Holdings, Inc., Senior Secured First Lien Term Loan 5.875% (1 Month SOFR USD + 4.25%, 0.500% Floor), 04/13/2029 (a)

626,000

586,875

LABL, Inc., Senior Secured First Lien Term Loan 6.666% (1 Month LIBOR USD + 5.00%, 0.500% Floor), 10/30/2028 (a)

833,810

774,401

Mauser Packaging Solutions Holding Co., Senior Secured First Lien Term Loan 4.312% (1 Month LIBOR USD + 3.25%), 04/03/2024 (a)

1,595,785

1,505,687

Plastipak Packaging, Inc., Senior Secured First Lien Term Loan 4.188% (1 Month LIBOR USD + 2.50%, 0.500% Floor), 12/01/2028 (a)

495,347

476,464

Pregis Topco, LLC

Senior Secured First Lien Term Loan 5.666% (1 Month LIBOR USD + 4.00%), 07/31/2026 (a)

531,375

503,810

Senior Secured First Lien Term Loan 5.666% (1 Month LIBOR USD + 4.00%, 0.500% Floor), 07/31/2026 (a)

545,875

517,217

RLG Holdings, LLC, Senior Secured First Lien Term Loan 5.916% (1 Month LIBOR USD + 4.25%, 0.750% Floor), 07/07/2028 (a)

585,060

548,494

Sabert Corp., Senior Secured First Lien Term Loan 6.188% (1 Month LIBOR USD + 4.50%, 1.000% Floor), 12/10/2026 (a)

519,299

494,632

Trident TPI Holdings, Inc.

Senior Secured First Lien Delayed-Draw Term Loan 6.25% (1 Month LIBOR USD + 4.00%, 0.500% Floor), 09/15/2028 (a)(i)

115,174

108,378

Senior Secured First Lien Term Loan 6.25% (1 Month LIBOR USD + 4.00%, 0.500% Floor), 09/15/2028 (a)

809,233

761,488

6,277,446

RETAIL - FOOD & DRUG - 0.47%

BJ's Wholesale Club, Inc., Senior Secured First Lien Term Loan 3.255% (1 Month LIBOR USD + 2.00%), 02/02/2024 (a)

1,007,386

1,004,399

JP Intermediate B, LLC, Senior Secured First Lien Term Loan 6.739% (3 Month LIBOR USD + 5.50%, 1.000% Floor), 11/20/2025 (a)

535,339

437,736

1,442,135

RETAILING - 1.93%

Autokiniton U.S. Holdings, Inc., Senior Secured First Lien Term Loan 5.62% (1 Month LIBOR USD + 4.50%, 0.500% Floor), 04/06/2028 (a)

667,953

619,526

Belron Finance U.S., LLC, Senior Secured First Lien Term Loan 3.875% (3 Month LIBOR USD + 2.50%, 0.500% Floor), 04/13/2028 (a)

1,210,011

1,166,656

Great Outdoors Group, LLC, Senior Secured First Lien Term Loan 5.416% (1 Month LIBOR USD + 3.75%, 0.750% Floor), 03/06/2028 (a)

1,155,471

1,056,967

Harbor Freight Tools U.S.A., Inc., Senior Secured First Lien Term Loan 4.416% (1 Month LIBOR USD + 2.75%, 0.500% Floor), 10/19/2027 (a)

719,050

639,343

Hoya Midco, LLC, Senior Secured First Lien Term Loan 3.75% (3 Month SOFR USD + 3.25%, 0.500% Floor), 01/26/2029 (a)

564,493

548,969

Michaels Stores, Inc., Senior Secured First Lien Term Loan 6.50% (3 Month LIBOR USD + 4.25%, 0.750% Floor), 04/14/2028 (a)

586,080

486,772

Pug, LLC, Senior Secured First Lien Term Loan 4.56% (1 Month LIBOR USD + 3.50%), 02/12/2027 (a)

916,500

829,433

Restoration Hardware, Inc., Senior Secured First Lien Term Loan 4.166% (1 Month LIBOR USD + 2.50%, 0.500% Floor), 10/20/2028 (a)

500,714

441,569

Sally Holdings, LLC, Senior Secured First Lien Term Loan 3.92% (1 Month LIBOR USD + 2.25%), 07/05/2024 (a)

94,266

93,559

5,882,794

TECHNOLOGY - SOFTWARE & SERVICES - 14.60%

Access CIG, LLC

Senior Secured First Lien Term Loan 5.325% (3 Month LIBOR USD + 3.75%), 02/27/2025 (a)

1,911,728

1,810,884

Senior Secured Second Lien Term Loan 9.325% (3 Month LIBOR USD + 7.75%), 02/27/2026 (a)

616,742

592,073

Almonde, Inc., Senior Secured First Lien Term Loan 4.739% (3 Month LIBOR USD + 3.50%, 1.000% Floor), 06/13/2024 (a)

2,997,390

2,710,300

Avast Software B.V., Senior Secured First Lien Term Loan 4.00% (3 Month LIBOR USD + 1.75%), 03/22/2028 (a)

315,000

308,995

Barracuda Networks, Inc.

Senior Secured First Lien Term Loan 5.982% (3 Month LIBOR USD + 3.75%, 0.750% Floor), 02/12/2025 (a)

1,999,337

1,985,181

Senior Secured First Lien Term Loan 4.75%, 04/13/2029 (a)(g)

1,040,000

999,700

Boxer Parent Co., Inc., Senior Secured First Lien Term Loan 5.416% (1 Month LIBOR USD + 3.75%), 10/02/2025 (a)

794,803

742,481

CCC Information Services, Inc., Senior Secured First Lien Term Loan 4.50% (3 Month LIBOR USD + 2.25%, 0.500% Floor), 09/21/2028 (a)

622,870

592,661

Central Parent, Inc., Senior Secured First Lien Term Loan 6.61% (3 Month SOFR USD + 4.50%, 0.500% Floor), 07/06/2029 (a)

955,000

905,345

CommerceHub, Inc., Senior Secured First Lien Term Loan 6.25% (3 Month LIBOR USD + 4.00%, 0.750% Floor), 12/29/2027 (a)

666,845

593,702

Connectwise, LLC, Senior Secured First Lien Term Loan 5.75% (3 Month LIBOR USD + 3.50%, 0.500% Floor), 09/29/2028 (a)

1,165,768

1,070,560

Dawn Acquisition, LLC, Senior Secured First Lien Term Loan 6.00% (3 Month LIBOR USD + 3.75%), 12/31/2025 (a)

486,268

390,940

DCert Buyer, Inc., Senior Secured First Lien Term Loan 5.666% (1 Month LIBOR USD + 4.00%), 10/16/2026 (a)

1,047,513

1,004,115

Dynatrace, LLC, Senior Secured First Lien Term Loan 3.916% (1 Month LIBOR USD + 2.25%), 08/22/2025 (a)

299,232

295,397

E2Open, LLC, Senior Secured First Lien Term Loan 4.835% (3 Month LIBOR USD + 3.50%, 0.500% Floor), 02/04/2028 (a)

817,216

773,968

EagleView Technology Corp., Senior Secured First Lien Term Loan 4.506% (3 Month LIBOR USD + 3.50%), 08/14/2025 (a)

858,850

792,023

Ensono, L.P., Senior Secured First Lien Term Loan 5.666% (1 Month LIBOR USD + 4.00%, 0.750% Floor), 05/19/2028 (a)

776,774

722,524

Greeneden U.S. Holdings II, LLC, Senior Secured First Lien Term Loan 5.666% (1 Month LIBOR USD + 4.00%, 0.750% Floor), 12/01/2027 (a)

371,648

356,410

Hyland Software, Inc., Senior Secured First Lien Term Loan 5.166% (1 Month LIBOR USD + 3.50%, 0.750% Floor), 07/01/2024 (a)

2,791,597

2,701,261

Intrado Corp.

Senior Secured First Lien Term Loan 4.56% (3 Month LIBOR USD + 3.50%, 1.000% Floor), 10/10/2024 (a)

227,024

194,550

Senior Secured First Lien Term Loan 5.06% (3 Month LIBOR USD + 4.00%, 1.000% Floor), 10/10/2024 (a)

482,673

412,550

McAfee Corp., Senior Secured First Lien Term Loan 5.145% (1 Month SOFR USD + 4.00%, 0.500% Floor), 03/01/2029 (a)

1,896,198

1,731,864

Mitchell International, Inc., Senior Secured First Lien Term Loan 5.345% (3 Month LIBOR USD + 3.75%, 0.500% Floor), 10/16/2028 (a)

2,009,963

1,836,603

Moneygram International, Inc., Senior Secured First Lien Term Loan 6.00% (6 Month LIBOR USD + 4.50%, 0.500% Floor), 07/21/2026 (a)

196,117

190,642

NAB Holdings, LLC, Senior Secured First Lien Term Loan 5.204% (3 Month SOFR USD + 3.00%, 0.500% Floor), 11/24/2028 (a)

503,168

472,037

N-Able International Holdings II, LLC, Senior Secured First Lien Term Loan 4.575% (3 Month LIBOR USD + 3.00%, 0.500% Floor), 07/19/2028 (a)

509,153

486,241

NortonLifeLock, Inc., Senior Secured First Lien Term Loan 2.00%, 06/30/2029 (a)(g)

1,515,000

1,440,386

Optiv Security, Inc., Senior Secured First Lien Term Loan 4.25% (6 Month LIBOR USD + 3.25%, 1.000% Floor), 02/01/2024 (a)

3,163,772

3,038,534

Ping Identity Corp., Senior Secured First Lien Term Loan 5.275% (1 Month SOFR USD + 3.75%, 0.500% Floor), 11/22/2028 (a)

787,907

766,240

Project Alpha Intermediate Holding, Inc., Senior Secured First Lien Term Loan 5.67% (1 Month LIBOR USD + 4.00%), 04/26/2024 (a)

2,334,013

2,251,599

Proofpoint, Inc., Senior Secured First Lien Term Loan 4.825% (3 Month LIBOR USD + 3.25%, 0.500% Floor), 08/31/2028 (a)

1,443,745

1,345,520

RealPage, Inc., Senior Secured First Lien Term Loan 4.06% (1 Month LIBOR USD + 3.00%, 0.500% Floor), 04/24/2028 (a)

1,213,072

1,124,615

Rocket Software, Inc.

Senior Secured First Lien Term Loan 5.916% (1 Month LIBOR USD + 4.25%), 11/28/2025 (a)

332,560

310,112

Senior Secured First Lien Term Loan 5.916% (1 Month LIBOR USD + 4.25%, 0.500% Floor), 11/28/2025 (a)

217,636

202,765

SolarWinds Holdings, Inc., Senior Secured First Lien Term Loan 4.416% (1 Month LIBOR USD + 2.75%), 02/05/2024 (a)

768,373

737,592

SS&C Technologies, Inc.

Senior Secured First Lien Term Loan 3.875% (1 Month SOFR USD + 2.25%, 0.500% Floor), 03/22/2029 (a)

443,859

424,218

Senior Secured First Lien Term Loan 3.875% (1 Month SOFR USD + 2.25%, 0.500% Floor), 03/22/2029 (a)

633,231

605,210

TIBCO Software, Inc.

Senior Secured First Lien Term Loan 5.42% (1 Month LIBOR USD + 3.75%), 06/30/2026 (a)

2,686,615

2,642,542

Senior Secured Second Lien Term Loan 8.31% (1 Month LIBOR USD + 7.25%), 03/03/2028 (a)

263,000

259,515

TierPoint, LLC, Senior Secured First Lien Term Loan 5.416% (1 Month LIBOR USD + 3.75%, 0.750% Floor), 05/05/2026 (a)

435,987

408,738

UKG, Inc.

Senior Secured First Lien Term Loan 4.212% (3 Month LIBOR USD + 3.25%, 0.500% Floor), 05/04/2026 (a)

979,661

920,426

Senior Secured First Lien Term Loan 5.416% (1 Month LIBOR USD + 3.75%), 05/04/2026 (a)

728,403

690,347

VM Consolidated, Inc.

Senior Secured First Lien Term Loan 5.50% (3 Month LIBOR USD + 3.25%), 03/24/2028 (a)

1,673

1,592

Senior Secured First Lien Term Loan 6.127% (6 Month LIBOR USD + 3.25%), 03/24/2028 (a)

659,165

627,447

VS Buyer, LLC, Senior Secured First Lien Term Loan 7.06% (1 Month LIBOR USD + 3.00%), 02/26/2027 (a)

458,171

432,399

WEX, Inc., Senior Secured First Lien Term Loan 3.916% (1 Month LIBOR USD + 2.25%), 03/31/2028 (a)

708,038

682,594

Zelis Cost Management Buyer, Inc., Senior Secured First Lien Term Loan 4.562% (1 Month LIBOR USD + 3.50%), 09/30/2026 (a)

989,950

935,042

44,520,440

TECHNOLOGY HARDWARE - 1.47%

Avaya, Inc., Senior Secured First Lien Term Loan 5.324% (1 Month LIBOR USD + 4.00%), 12/15/2027 (a)

375,000

288,574

II-VI, Inc., Senior Secured First Lien Term Loan 4.463% (1 Month LIBOR USD + 2.75%, 0.500% Floor), 07/02/2029 (a)

941,000

904,536

Ingram Micro, Inc., Senior Secured First Lien Term Loan 5.75% (3 Month LIBOR USD + 3.50%, 0.500% Floor), 06/30/2028 (a)

534,600

507,202

MaxLinear, Inc., Senior Secured First Lien Term Loan 3.31% (1 Month LIBOR USD + 2.25%, 0.500% Floor), 06/23/2028 (a)

332,143

325,500

MKS Instruments, Inc., Senior Secured First Lien Term Loan 2.75%, 04/08/2029 (a)(g)

1,287,000

1,234,876

MLN U.S. HoldCo, LLC, Senior Secured First Lien Term Loan 5.62% (1 Month LIBOR USD + 4.50%), 11/28/2025 (a)

784,984

525,939

Presidio Holdings, Inc.

Senior Secured First Lien Term Loan 4.56% (1 Month LIBOR USD + 3.50%), 01/22/2027 (a)

17,784

16,902

Senior Secured First Lien Term Loan 4.74% (3 Month LIBOR USD + 3.50%), 01/22/2027 (a)

693,576

659,189

Senior Secured First Lien Term Loan 5.17% (1 Month LIBOR USD + 3.50%), 01/22/2027 (a)

14,820

14,085

4,476,803

TELECOMMUNICATION SERVICES - DIVERSIFIED - 3.28%

Cablevision Lightpath, LLC, Senior Secured First Lien Term Loan 4.574% (1 Month LIBOR USD + 3.25%, 0.500% Floor), 11/30/2027 (a)

906,200

859,762

Cincinnati Bell, Inc., Senior Secured First Lien Term Loan 4.875% (1 Month SOFR USD + 3.25%, 0.500% Floor), 11/22/2028 (a)

577,100

549,904

Consolidated Communications, Inc., Senior Secured First Lien Term Loan 5.188% (1 Month LIBOR USD + 3.50%, 0.750% Floor), 10/04/2027 (a)

933,868

831,922

Eagle Broadband Investments, LLC, Senior Secured First Lien Term Loan 5.313% (3 Month LIBOR USD + 3.00%, 0.750% Floor), 11/12/2027 (a)

619,103

585,052

Lumen Technologies, Inc., Senior Secured First Lien Term Loan 3.31% (1 Month LIBOR USD + 2.25%), 03/15/2027 (a)

3,574,855

3,296,678

Numericable U.S., LLC, Senior Secured First Lien Term Loan 5.411% (3 Month LIBOR USD + 4.00%), 08/14/2026 (a)

759,637

696,253

Voyage U.S., LLC, Senior Secured First Lien Term Loan 4.563% (3 Month LIBOR USD + 3.50%, 0.500% Floor), 07/20/2028 (a)

477,393

448,155

Zayo Group Holdings, Inc.

Senior Secured First Lien Term Loan 4.666% (1 Month LIBOR USD + 3.00%), 03/09/2027 (a)

1,717,474

1,590,046

Senior Secured First Lien Term Loan 5.775% (1 Month SOFR USD + 4.25%, 0.500% Floor), 03/09/2027 (a)

369,075

345,930

Ziggo Financing Partnership, Senior Secured First Lien Term Loan 3.824% (1 Month LIBOR USD + 2.50%), 04/28/2028 (a)

845,000

790,405

9,994,107

TELECOMMUNICATION SERVICES - WIRELESS - 0.16%

CCI Buyer, Inc., Senior Secured First Lien Term Loan 6.054% (3 Month SOFR USD + 4.00%, 0.750% Floor), 12/17/2027 (a)

538,188

492,442

TRANSPORTATION - 2.26%

AAdvantage Loyalty IP, Ltd., Senior Secured First Lien Term Loan 5.813% (3 Month LIBOR USD + 4.75%, 0.750% Floor), 04/20/2028 (a)

727,184

695,628

Atlas CC Acquisition Corp.

Senior Secured First Lien Term Loan 5.825% (3 Month LIBOR USD + 4.25%, 0.750% Floor), 05/25/2028 (a)

1,108,138

1,027,111

Senior Secured First Lien Term Loan 5.825% (3 Month LIBOR USD + 4.25%, 0.750% Floor), 05/25/2028 (a)

234,271

217,142

Hertz Corp.

Senior Secured First Lien Term Loan 4.92% (1 Month LIBOR USD + 3.25%, 0.500% Floor), 06/30/2028 (a)

383,184

361,971

Senior Secured First Lien Term Loan 4.92% (1 Month LIBOR USD + 3.25%, 0.500% Floor), 06/30/2028 (a)

72,945

68,907

Kenan Advantage Group, Inc., Senior Secured First Lien Term Loan 5.383% (1 Month LIBOR USD + 3.75%, 0.750% Floor), 03/24/2026 (a)

485,204

457,305

Lasership, Inc., Senior Secured First Lien Term Loan 7.377% (6 Month LIBOR USD + 4.50%, 0.750% Floor), 05/08/2028 (a)

1,596,695

1,431,037

PODS, LLC, Senior Secured First Lien Term Loan 4.666% (1 Month LIBOR USD + 3.00%, 0.750% Floor), 03/31/2028 (a)

978,650

913,080

Uber Technologies, Inc.

Senior Secured First Lien Term Loan 5.075% (3 Month LIBOR USD + 3.50%), 04/04/2025 (a)

901,011

868,025

Senior Secured First Lien Term Loan 5.075% (3 Month LIBOR USD + 3.50%), 02/25/2027 (a)

333,538

320,939

WWEX UNI TopCo Holdings, LLC, Senior Secured First Lien Term Loan 6.50% (3 Month LIBOR USD + 4.25%, 0.750% Floor), 07/26/2028 (a)

570,135

520,904

6,882,049

UTILITIES - POWER - 0.59%

Calpine Construction Finance Co., L.P., Senior Secured First Lien Term Loan 3.666% (1 Month LIBOR USD + 2.00%), 01/15/2025 (a)

837,618

806,642

Calpine Corp., Senior Secured First Lien Term Loan 4.17% (1 Month LIBOR USD + 2.50%), 12/16/2027 (a)

374,300

356,989

Eastern Power, LLC, Senior Secured First Lien Term Loan 6.00% (3 Month LIBOR USD + 3.75%, 1.000% Floor), 10/02/2025 (a)

207,977

176,618

Lightstone Holdco, LLC

Senior Secured First Lien Term Loan 7.024% (3 Month SOFR USD + 5.75%, 1.000% Floor), 02/01/2027 (a)

455,435

411,030

Senior Secured First Lien Term Loan 7.024% (3 Month SOFR USD + 5.75%, 1.000% Floor), 02/01/2027 (a)

25,687

23,183

New Frontera Holdings, LLC, Senior Secured Second Lien Term Loan 3.75% (3 Month LIBOR USD + 1.50%, 1.000% Floor), 07/28/2028 (a)

57,484

14,371

1,788,833

TOTAL BANK LOANS (Cost $278,175,794)

262,210,545

CORPORATE BONDS - 11.33% (f)

AEROSPACE & DEFENSE - 1.11%

TransDigm, Inc.

6.25%, 03/15/2026 (h)

1,850,000

1,790,763

6.375%, 06/15/2026

1,698,000

1,591,026

3,381,789

BUILDING PRODUCTS - 0.15%

Standard Industries, Inc. 3.375%, 01/15/2031 (h)

600,000

444,317

COMMERCIAL SERVICES - 0.39%

Garda World Security Corp. 4.625%, 02/15/2027 (c)(h)

710,000

611,764

Tempo Acquisition, LLC / Tempo Acquisition Finance Corp. 5.75%, 06/01/2025 (h)

625,000

588,968

1,200,732

CONSTRUCTION & ENGINEERING - 0.17%

Pike Corp. 5.50%, 09/01/2028 (h)

638,000

511,338

ENVIRONMENTAL SERVICES - 0.24%

GFL Environmental, Inc. 4.00%, 08/01/2028 (c)(h)

541,000

447,174

Stericycle, Inc. 5.375%, 07/15/2024 (h)

295,000

285,345

732,519

HEALTHCARE - EQUIPMENT & SUPPLIES - 0.54%

Change Healthcare Holdings, LLC / Change Healthcare Finance, Inc. 5.75%, 03/01/2025 (h)

1,692,000

1,657,466

HEALTHCARE - FACILITIES - 1.73%

DaVita, Inc. 3.75%, 02/15/2031 (h)

925,000

656,732

Global Medical Response, Inc. 6.50%, 10/01/2025 (h)

650,000

580,047

Legacy LifePoint Health, LLC 4.375%, 02/15/2027 (h)

370,000

317,502

RegionalCare Hospital Partners Holdings, Inc. / LifePoint Health, Inc. 9.75%, 12/01/2026 (h)

2,310,000

2,267,984

Tenet Healthcare Corp. 6.25%, 02/01/2027 (h)

1,570,000

1,448,325

5,270,590

HEALTHCARE - MANAGED HEALTH CARE - 0.32%

Verscend Escrow Corp. 9.750%, 08/15/2026 (h)

1,010,000

985,012

HEALTHCARE - PHARMACEUTICALS & BIOTECHNOLOGY - 0.63%

Bausch Health Cos., Inc. 5.50%, 11/01/2025 (c)(h)

775,000

682,000

Teva Pharmaceutical Finance Netherlands III B.V. 3.15%, 10/01/2026 (c)

1,515,000

1,247,231

1,929,231

HEALTHCARE - REITs - 0.13%

MPT Operating Partnership, L.P. / MPT Finance Corp. 3.50%, 03/15/2031

505,000

395,397

INDUSTRIAL MACHINERY - 0.16%

WESCO Distribution, Inc. 7.125%, 06/15/2025 (h)

490,000

488,162

LEISURE - CASINOS & GAMING - 1.32%

Caesars Entertainment, Inc. 6.25%, 07/01/2025 (h)

2,225,000

2,142,375

Premier Entertainment Sub, LLC / Premier Entertainment Finance Corp.

5.625%, 09/01/2029 (h)

561,000

400,262

5.875%, 09/01/2031 (h)

562,000

390,814

VICI Properties, L.P. / VICI Note Co., Inc. 3.50%, 02/15/2025 (h)

1,145,000

1,072,800

4,006,251

LEISURE - HOTELS - 0.49%

Royal Caribbean Cruises, Ltd. 9.125%, 06/15/2023 (c)(h)

1,520,000

1,504,800

LEISURE - RESTAURANTS - 0.19%

CEC Entertainment, LLC 6.75%, 05/01/2026 (h)

660,000

579,234

MEDIA - CABLE & SATELLITE - 0.79%

DISH DBS Corp.

5.875%, 07/15/2022

1,450,000

1,454,836

5.125%, 06/01/2029

575,000

349,217

Hughes Satellite Systems Corp. 6.625%, 08/01/2026

675,000

600,305

2,404,358

MEDIA - ENTERTAINMENT - 0.31%

Playtika Holding Corp. 4.25%, 03/15/2029 (h)

1,130,000

934,544

METALS & MINING - 0.03%

GrafTech Finance, Inc. 4.625%, 12/15/2028 (h)

127,000

103,035

RETAIL - FOOD & DRUG - 0.15%

U.S. Foods, Inc. 6.25%, 04/15/2025 (h)

465,000

464,854

RETAILING - 0.23%

QVC, Inc. 4.85%, 04/01/2024

730,000

683,671

TECHNOLOGY - SOFTWARE & SERVICES - 1.29%

Boxer Parent Co., Inc. 7.125%, 10/02/2025 (h)

385,000

366,253

Elastic N.V. 4.125%, 07/15/2029 (c)(h)

844,000

705,618

NortonLifeLock, Inc. 5.00%, 04/15/2025 (h)

750,000

732,686

Rackspace Technology Global, Inc. 3.50%, 02/15/2028 (h)

1,505,000

1,180,484

Sabre GLBL, Inc. 7.375%, 09/01/2025 (h)

1,025,000

958,462

3,943,503

TELECOMMUNICATION SERVICES - DIVERSIFIED - 0.52%

Frontier Communications Holdings, LLC 5.00%, 05/01/2028 (h)

1,000,000

854,760

Northwest Fiber, LLC / Northwest Fiber Finance Sub, Inc.

4.75%, 04/30/2027 (h)

349,000

287,929

6.00%, 02/15/2028 (h)

622,000

447,933

1,590,622

TRANSPORTATION - 0.44%

Uber Technologies, Inc. 8.00%, 11/01/2026 (h)

1,350,000

1,347,023

TOTAL CORPORATE BONDS (Cost $38,091,025)

34,558,448

Shares

EQUITIES - 0.02%

MEDIA - BROADCASTING - 0.02%

Cumulus Media, Inc. (b)

7,030

54,342

UTILITIES - POWER - 0.00%

Frontera Generation Holdings, LLC (b)

479

150

TOTAL EQUITIES (Cost $120,213)

54,492

WARRANT - 0.00%

MEDIA - ENTERTAINMENT - 0.00%

Crown Finance U.S., Inc. (b)(d)

98,930

15,836

TOTAL WARRANT (Cost $30,928)

15,836

MONEY MARKET FUND - 1.20%

First American Government Obligations Fund - Class X, 1.29% (e)

3,648,284

3,648,284

TOTAL MONEY MARKET FUND (Cost $3,648,284)

3,648,284

Total Investments (Cost $320,066,244) - 98.55%

300,487,605

Other Assets in Excess of  Liabilities - 1.45%

4,408,293

TOTAL NET ASSETS - 100.00%

      304,895,898

Percentages are stated as a percent of net assets.

LIBOR

London Interbank Offered Rate

REIT

Real Estate Investment Trust

SOFR

Secured Overnight Funding Rate

(a)

Variable rate securities.  The coupon rate shown is the effective interest rate as of June 30, 2022.

(b)

Non-income producing security.

(c)

U.S. traded security of a foreign issuer.

(d)

Foreign issued security.

(e)

Rate shown is the 7-day annualized yield as of June 30, 2022.

(f)

All or a portion is posted as collateral for delayed settlement securities.

(g)

Final terms of the bank loan are not yet known, so reference index and spread information may not be presented.

(h)

Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended, and may be sold only to dealers

in the program or other "qualified institutional buyers."  As of June 30, 2022, the value of these investments was

$28,236,765 or 9.26% of total net assets.

(i)

All or a portion of the loan is unfunded.

 The Global Industry Classification Standard (GICS^®) was developed by and/or is the exclusive property of MSCI,

 Inc. and Standard & Poor's Financial Services LLC (“S&P”). GICS is a service mark of MSCI and S&P and has

 been licensed for use by Shenkman Capital Management, Inc.  Industries presented are at the discretion

 of Shenkman Capital Management, Inc. and therefore may not follow the exact naming convention prescribed by GICS.