Security Description | | Shares | | | Value | |
Common Stock (90.94%) | | | | | | | | |
| | | | | | | | |
Basic Materials (4.06%) | | | | | | | | |
Eastman Chemical Co | | | 14,100 | | | | 981,924 | |
International Paper Co | | | 37,200 | | | | 1,309,812 | |
Total Basic Materials | | | | | | | 2,291,736 | |
| | | | | | | | |
Consumer, Cyclical (14.11%) | | | | | | | | |
Best Buy Co Inc | | | 13,500 | | | | 1,178,145 | |
Cummins Inc | | | 9,700 | | | | 1,680,622 | |
Leggett & Platt Inc | | | 45,400 | | | | 1,595,810 | |
VF Corp | | | 30,000 | | | | 1,828,200 | |
Whirlpool Corp | | | 12,900 | | | | 1,670,937 | |
Total Consumer, Cyclical | | | | | | | 7,953,714 | |
| | | | | | | | |
Consumer, Non-Cyclical (24.90%) | | | | | | | | |
Altria Group Inc | | | 25,700 | | | | 1,008,725 | |
Avery Dennison Corp | | | 13,000 | | | | 1,483,170 | |
Bristol-Myers Squibb Co | | | 30,100 | | | | 1,769,880 | |
Conagra Brands Inc | | | 38,000 | | | | 1,336,460 | |
Johnson & Johnson | | | 9,800 | | | | 1,378,174 | |
Merck & Co Inc | | | 19,100 | | | | 1,477,003 | |
Philip Morris International Inc | | | 15,000 | | | | 1,050,900 | |
Rent-A-Center Inc | | | 50,200 | | | | 1,396,564 | |
Tyson Foods Inc | | | 24,900 | | | | 1,486,779 | |
UnitedHealth Group Inc | | | 5,600 | | | | 1,651,720 | |
Total Consumer, Non-Cyclical | | | | | | | 14,039,375 | |
| | | | | | | | |
Financial (21.80%) | | | | | | | | |
Bank of America Corp | | | 65,500 | | | | 1,555,625 | |
Fifth Third Bancorp | | | 57,300 | | | | 1,104,744 | |
JPMorgan Chase & Co | | | 18,000 | | | | 1,693,080 | |
KeyCorp | | | 61,900 | | | | 753,942 | |
MetLife Inc | | | 37,400 | | | | 1,365,848 | |
Morgan Stanley | | | 36,400 | | | | 1,758,120 | |
Navient Corp | | | 188,400 | | | | 1,324,452 | |
Prudential Financial Inc | | | 17,300 | | | | 1,053,570 | |
US Bancorp | | | 26,300 | | | | 968,366 | |
Webster Financial Corp | | | 24,900 | | | | 712,389 | |
Total Financial | | | | | | | 12,290,136 | |
| | | | | | | | |
Industrial (10.37%) | | | | | | | | |
Hubbell Inc | | | 13,600 | | | | 1,704,896 | |
Lockheed Martin Corp | | | 4,800 | | | | 1,751,616 | |
Packaging Corp of America | | | 10,200 | | | | 1,017,960 | |
Union Pacific Corp | | | 8,100 | | | | 1,369,467 | |
Total Industrial | | | | | | | 5,843,939 | |
| | | | | | | | |
Technology (6.33%) | | | | | | | | |
Infosys Ltd | | | 81,200 | | | | 784,392 | |
International Business Machines Corp | | | 5,900 | | | | 712,543 | |
QUALCOMM Inc | | | 22,700 | | | | 2,070,467 | |
Total Technology | | | | | | | 3,567,402 | |
| | | | | | | | |
Utilities (9.37%) | | | | | | | | |
Avangrid Inc | | | 24,400 | | | | 1,024,312 | |
Avista Corp | | | 33,300 | | | | 1,211,787 | |
CenterPoint Energy Inc | | | 27,700 | | | | 517,159 | |
Evergy Inc | | | 14,500 | | | | 859,705 | |
Otter Tail Corp | | | 43,100 | | | | 1,671,849 | |
Total Utilities | | | | | | | 5,284,812 | |
| | | | | | | | |
Total Common Stock (Cost $56,003,074) | | | | | | | 51,271,114 | |
| | | | | | | | |
Preferred Stock (2.08%) | | | | | | | | |
| | | | | | | | |
Financial (1.90%) | | | | | | | | |
Annaly Capital Management Inc, 6.750% | | | 2,395 | | | | 50,630 | |
Annaly Capital Management Inc, 6.950% | | | 4,000 | | | | 83,520 | |
Argo Group US Inc, 6.500% | | | 17,717 | | | | 451,961 | |
JPMorgan Chase & Co, 6.100% | | | 5,000 | | | | 127,050 | |
Wells Fargo & Co, 7.500% | | | 100 | | | | 129,700 | |
Wells Fargo & Co, 6.000% | | | 9,100 | | | | 231,777 | |
Total Financial | | | | | | | 1,074,638 | |
| | | | | | | | |
Government (0.18%) | | | | | | | | |
Farm Credit Bank of Texas, 10.000%(a) | | | 100 | | | | 100,000 | |
| | | | | | | | |
Total Preferred Stock (Cost $1,192,153) | | | | | | | 1,174,638 | |
| | | | | | | | |
Corporate Debt (4.79%) | | | Par Value | | | | Value | |
| | | | | | | | |
Basic Materials (0.35%) | | | | | | | | |
CVR Partners LP / CVR Nitrogen Finance Corp, 9.250%, 6/15/2023 (144A) | | | 200,000 | | | | 196,000 | |
| | | | | | | | |
Communications (0.67%) | | | | | | | | |
CSC Holdings LLC, 10.875%, 10/15/2025 (144A) | | | 350,000 | | | | 376,250 | |
| | | | | | | | |
Consumer, Cyclical (1.22%) | | | | | | | | |
Foot Locker Inc, 8.500%, 1/15/2022 | | | 500,000 | | | | 520,000 | |
Reliance Intermediate Holdings LP, 6.500%, 4/1/2023 (144A) | | | 165,000 | | | | 165,825 | |
Total Consumer, Cyclical | | | | | | | 685,825 | |
| | | | | | | | |
Consumer, Non-Cyclical (1.37%) | | | | | | | | |
Central Garden & Pet Co, 6.125%, 11/15/2023 | | | 600,000 | | | | 612,000 | |
RR Donnelley & Sons Co, 8.250%, 7/1/2027 | | | 162,000 | | | | 160,380 | |
Total Consumer, Non-Cyclical | | | | | | | 772,380 | |
| | | | | | | | |
Energy (0.46%) | | | | | | | | |
MPLX LP, 6.375%, 5/1/2024 | | | 250,000 | | | | 258,131 | |
| | | | | | | | |
Financial (0.19%) | | | | | | | | |
Avation Capital SA, 6.500%, 5/15/2021 (144A) | | | 150,000 | | | | 111,000 | |
| | | | | | | | |
Industrial (0.35%) | | | | | | | | |
TransDigm Inc, 6.500%, 7/15/2024 | | | 100,000 | | | | 95,479 | |
USG Corp, 5.500%, 3/1/2025 (144A) | | | 100,000 | | | | 100,500 | |
Total Industrial | | | | | | | 195,979 | |
| | | | | | | | |
Utilities (0.18%) | | | | | | | | |
Vistra Corp, 8.125%, 1/30/2026 (144A) | | | 100,000 | | | | 104,250 | |
| | | | | | | | |
Total Corporate Debt (Cost $2,772,183) | | | | | | | 2,699,815 | |
| | | | | | | | |
Mutual Funds (1.82%) | | | Par Value | | | | Value | |
| | | | | | | | |
Financial (1.82%) | | | | | | | | |
BlackRock New York Municipal Opportunities Fund | | | 6,805 | | | | 73,766 | |
BrandywineGLOBAL Global Income Opportunities Fund Inc | | | 7,100 | | | | 81,934 | |
Duff & Phelps Utility and Corporate Bond Trust Inc | | | 13,619 | | | | 127,338 | |
Eaton Vance Floating-Rate Income Plus Fund | | | 10,000 | | | | 138,300 | |
First Trust Aberdeen Global Opportunity Income Fund | | | 24,657 | | | | 244,597 | |
Nuveen New York Municipal Value Fund 2 | | | 863 | | | | 11,763 | |
Pioneer Diversified High Income Trust | | | 16,741 | | | | 201,160 | |
Western Asset Global High Income Fund Inc | | | 16,000 | | | | 148,000 | |
Total Financial | | | | | | | 1,026,858 | |
| | | | | | | | |
Total Mutual Funds (Cost $1,080,338) | | | | | | | 1,026,858 | |
| | | | | | | | |
Collateral for Securities on Loan (0.18%) | | | | | | | | |
State Street Navigator Securities Lending Government Money Market Portfolio, 7-Day Yield 0.32% (Cost $103,738) | | | 103,738 | | | | 103,738 | |
| | | | | | | | |
Total Investments (Cost $61,151,486) (99.82%) | | | | | | | 56,276,163 | |
Other Net Assets (0.18%) | | | | | | | 104,125 | |
Net Assets (100.00%) | | | | | | | 56,380,288 | |