Principal Amount USD ($) | | | | | | Value |
| Oil & Gas — 9.7% | |
302,000 | Aethon United BR LP/Aethon United Finance Corp., 8.25%, 2/15/26 (144A) | $ 292,239 |
309,000 | Baytex Energy Corp., 8.75%, 4/1/27 (144A) | 312,254 |
302,000 | Energean Plc, 6.50%, 4/30/27 (144A) | 272,319 |
365,000 | Harbour Energy Plc, 5.50%, 10/15/26 (144A) | 336,391 |
90,000 | Hilcorp Energy I LP/Hilcorp Finance Co., 6.00%, 4/15/30 (144A) | 81,129 |
90,000 | Hilcorp Energy I LP/Hilcorp Finance Co., 6.25%, 4/15/32 (144A) | 80,508 |
262,000 | International Petroleum Corp., 7.25%, 2/1/27 (144A) | 244,708 |
200,000 | Kosmos Energy, Ltd., 7.75%, 5/1/27 (144A) | 170,539 |
190,000 | Matador Resources Co., 6.875%, 4/15/28 (144A) | 188,446 |
50,000 | Nabors Industries, Inc., 7.375%, 5/15/27 (144A) | 46,976 |
300,000 | Neptune Energy Bondco Plc, 6.625%, 5/15/25 (144A) | 294,459 |
55,000 | Noble Finance II LLC, 8.00%, 4/15/30 (144A) | 55,733 |
220,000 | Parkland Corp., 4.625%, 5/1/30 (144A) | 190,190 |
66,000 | Precision Drilling Corp., 6.875%, 1/15/29 (144A) | 59,095 |
210,000 | Shelf Drilling Holdings, Ltd., 8.875%, 11/15/24 (144A) | 209,032 |
324,000 | Southwestern Energy Co., 5.375%, 3/15/30 | 297,805 |
304,000 | Strathcona Resources, Ltd., 6.875%, 8/1/26 (144A) | 256,120 |
360,000 | Tap Rock Resources LLC, 7.00%, 10/1/26 (144A) | 337,336 |
115,000 | Transocean, Inc., 8.75%, 2/15/30 (144A) | 114,943 |
40,000 | Transocean Titan Financing, Ltd., 8.375%, 2/1/28 (144A) | 40,507 |
260,000 | Tullow Oil Plc, 10.25%, 5/15/26 (144A) | 193,424 |
230,000 | Valaris, Ltd., 8.375%, 4/30/30 (144A) | 228,367 |
| Total Oil & Gas | $4,302,520 |
|
|
| Oil & Gas Services — 0.5% | |
215,000 | Enerflex, Ltd., 9.00%, 10/15/27 (144A) | $ 209,174 |
| Total Oil & Gas Services | $209,174 |
|
|
| Packaging & Containers — 3.8% | |
235,000 | Cascades Inc/Cascades USA, Inc., 5.375%, 1/15/28 (144A) | $ 220,313 |
344,000 | Clearwater Paper Corp., 4.75%, 8/15/28 (144A) | 305,227 |
125,000 | Crown Cork & Seal Co., Inc., 7.375%, 12/15/26 | 129,319 |
325,000 | Mauser Packaging Solutions Holding Co., 7.875%, 8/15/26 (144A) | 322,114 |
189,000 | OI European Group BV, 4.75%, 2/15/30 (144A) | 170,809 |
225,000 | Owens-Brockway Glass Container, Inc., 7.25%, 5/15/31 (144A) | 228,937 |