AAM/HIMCO Short Duration Fund
SCHEDULE OF INVESTMENTS
As of March 31, 2024 (Unaudited)
Principal Amount | Value | |
ASSET-BACKED SECURITIES — 12.0% | ||
AGL Core CLO Ltd. | ||
$1,500,000 | Series 2019-2A, Class B, 7.48% (3-Month Term SOFR+216 basis points), 4/20/20321,2,3 | $1,500,960 |
950,000 | Series 2020-8A, Class BR, 6.98% (3-Month Term SOFR+166 basis points), 10/20/20321,2,3 | 950,472 |
1,000,000 | Apidos CLO Series 2020-34A, Class B1R, 7.23% (3-Month Term SOFR+191 basis points), 1/20/20351,2,3 | 998,798 |
2,000,000 | Ares CLO Ltd. Series 2016-39A, Class A2R2, 6.96% (3-Month Term SOFR+166 basis points), 4/18/20311,2,3 | 2,001,152 |
Atalaya Equipment Leasing Trust | ||
45,773 | Series 2021-1A, Class A2, 1.23%, 5/15/20261,3 | 45,562 |
234,800 | Series 2021-1A, Class B, 2.08%, 2/15/20271,3 | 229,344 |
1,268,000 | Balboa Bay Loan Funding Ltd. Series 2020-1A, Class BR, 7.23% (3-Month Term SOFR+191 basis points), 1/20/20321,2,3 | 1,268,968 |
1,750,000 | BlueMountain CLO Ltd. Series 2018-23A, Class A2, 7.03% (3-Month Term SOFR+171 basis points), 10/20/20311,2,3 | 1,753,291 |
369,766 | Capital Automotive Series 2020-1A, Class A4, 3.19%, 2/15/20501,3 | 357,174 |
600,000 | CBAM Ltd. Series 2018-6A, Class B1R, 7.67% (3-Month Term SOFR+237 basis points), 1/15/20311,2,3 | 600,180 |
Commonbond Student Loan Trust | ||
12,290 | Series 2016-B, Class B, 4.00%, 10/25/20401,3 | 11,265 |
316,108 | Series 2018-CGS, Class A1, 3.87%, 2/25/20461,3 | 301,286 |
2,000,000 | Continental Finance Credit Card ABS Master Trust Series 2021-A, Class A, 2.55%, 12/17/20293 | 1,922,080 |
1,000,000 | Crown City CLO 6.42%, 4/20/20371,2,3 | 1,000,000 |
24,009 | Drive Auto Receivables Trust Series 2021-1, Class C, 1.02%, 6/15/20271 | 23,956 |
100,000 | Dryden CLO Ltd. Series 2019-72A, Class XR, 6.47% (3-Month Term SOFR+116 basis points), 5/15/20321,2,3 | 99,966 |
1,500,000 | Eaton Vance CLO Ltd. Series 2020-1A, Class BR, 7.23% (3-Month Term SOFR+191 basis points), 10/15/20341,2,3 | 1,492,119 |
1,000,000 | Evergreen Credit Card Trust 6.58%, 2/15/20273 | 1,005,715 |
283,035 | Exeter Automobile Receivables Trust Series 2020-3A, Class D, 1.73%, 7/15/20261 | 280,928 |
FirstKey Homes Trust | ||
875,000 | Series 2020-SFR1, Class C, 1.94%, 8/17/20373 | 824,352 |
1,575,000 | Series 2020-SFR1, Class F2, 4.28%, 8/17/20373 | 1,512,899 |
AAM/HIMCO Short Duration Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
Principal Amount | Value | |
ASSET-BACKED SECURITIES (Continued) | ||
$216,674 | HERO Funding Trust Series 2015-2A, Class A, 3.99%, 9/20/20401,3 | $197,728 |
38,479 | Lendbuzz Securitization Trust Series 2021-1A, Class A, 1.46%, 6/15/20261,3 | 37,444 |
818,315 | NADG NNN Operating LP Series 2019-1, Class A, 3.37%, 12/28/20491,3 | 790,607 |
2,000,000 | Navient Private Education Refi Loan Trust Series 2019-CA, Class B, 3.67%, 2/15/20681,3 | 1,777,790 |
581,506 | NewRez Warehouse Securitization Trust Series 2021-1, Class D, 6.84% (1-Month Term SOFR+152 basis points), 5/25/20551,2,3 | 581,353 |
800,000 | Oaktree CLO Ltd. Series 2019-3A, Class BR, 7.33% (3-Month Term SOFR+201 basis points), 10/20/20341,2,3 | 796,799 |
Park Avenue Institutional Advisers CLO Ltd. | ||
1,000,000 | Series 2019-1A, Class A2A, 7.57% (3-Month Term SOFR+227 basis points), 5/15/20321,2,3 | 1,000,119 |
2,000,000 | Series 2019-2A, Class A2R, 7.27% (3-Month Term SOFR+196 basis points), 10/15/20341,2,3 | 1,985,506 |
1,500,000 | Race Point CLO Ltd. Series 2015-9A, Class A2R2, 7.03% (3-Month Term SOFR+171 basis points), 10/15/20301,2,3 | 1,500,100 |
1,000,000 | Regatta Funding Ltd. Series 2018-4A, Class A2, 7.44% (3-Month Term SOFR+211 basis points), 10/25/20311,2,3 | 1,000,316 |
Santander Consumer Auto Receivables Trust | ||
402,559 | Series 2020-3, Class D, 1.64%, 11/16/20261 | 397,454 |
863 | Series 2021-BA, Class B, 1.45%, 10/16/20281,3 | 862 |
Signal Peak CLO Ltd. | ||
463,407 | Series 2015-1A, Class AR2, 6.56% (3-Month Term SOFR+124 basis points), 4/20/20291,2,3 | 463,446 |
1,000,000 | Series 2019-1A, Class B, 7.58% (3-Month Term SOFR+227 basis points), 4/30/20321,2,3 | 1,000,065 |
SoFi Professional Loan Program LLC | ||
500,000 | Series 2017-D, Class BFX, 3.61%, 9/25/20401,3 | 452,852 |
550,000 | Series 2018-A, Class B, 3.61%, 2/25/20421,3 | 499,623 |
1,155,638 | Store Master Funding Series 2018-1A, Class A2, 4.29%, 10/20/20481,3 | 1,078,950 |
Tricon American Homes Trust | ||
2,000,000 | Series 2018-SFR1, Class F, 4.96%, 5/17/20373 | 1,972,666 |
987,867 | Series 2019-SFR1, Class A, 2.75%, 3/17/20383 | 936,610 |
1,000,000 | Series 2020-SFR1, Class C, 2.25%, 7/17/20383 | 922,952 |
1,500,000 | Venture CLO Ltd. Series 2019-36A, Class A2R, 6.98% (3-Month Term SOFR+166 basis points), 4/20/20321,2,3 | 1,500,507 |
Vibrant CLO Ltd. |
AAM/HIMCO Short Duration Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
Principal Amount | Value | |
ASSET-BACKED SECURITIES (Continued) | ||
$1,100,000 | Series 2017-6A, Class BR, 7.22% (3-Month Term SOFR+189 basis points), 6/20/20291,2,3 | $1,101,323 |
2,000,000 | Series 2019-11A, Class A2R, 7.28% (3-Month Term SOFR+196 basis points), 7/20/20321,2,3 | 2,000,463 |
Voya CLO Ltd. | ||
1,000,000 | Series 2016-2A, Class A2R, 7.32% (3-Month Term SOFR+201 basis points), 7/19/20281,2,3 | 1,000,746 |
1,300,000 | Series 2018-4A, Class A2AR, 6.98% (3-Month Term SOFR+166 basis points), 1/15/20321,2,3 | 1,300,502 |
Westlake Automobile Receivables Trust | ||
162,636 | Series 2021-1A, Class C, 0.95%, 3/16/20261,3 | 161,982 |
1,274,000 | Series 2021-2A, Class E, 2.38%, 3/15/20271,3 | 1,215,176 |
1,830,000 | Series 2021-3A, Class E, 3.42%, 4/15/20271,3 | 1,762,197 |
TOTAL ASSET-BACKED SECURITIES | ||
(Cost $46,725,894) | 45,616,605 | |
BANK LOANS — 3.9% | ||
913,750 | American Airlines, Inc. 10.33% (3-Month Term SOFR+475 basis points), 4/20/20281,2,4,5 | 950,492 |
644,489 | Aramark Services, Inc. 7.94% (1-Month Term SOFR+250 basis points), 6/24/20301,2 | 645,498 |
1,342,612 | Charter Communications Operating LLC 7.33% (1-Month Term SOFR+200 basis points), 12/9/20301,2 | 1,330,763 |
1,129,460 | Delta Air Lines, Inc. 8.56% (3-Month Term SOFR+375 basis points), 10/20/20271,2,4,5 | 1,166,287 |
199,664 | DT Midstream, Inc. 7.47% (1-Month Term SOFR+200 basis points), 6/12/20281,2,4 | 200,520 |
942,838 | Energizer Holdings, Inc. 7.68% (1-Month Term SOFR+225 basis points), 12/22/20271,2,4 | 943,545 |
ICON Luxembourg Sarl PLC | ||
468,139 | 7.33%, 7/3/2028 | 469,814 |
116,637 | 7.33%, 7/3/2028 | 117,054 |
1,454,564 | LPL Holdings, Inc. 7.17% (1-Month Term SOFR+175 basis points), 11/12/20261,2,4 | 1,456,688 |
936,975 | PetSmart LLC 9.18% (1-Month Term SOFR+375 basis points), 2/12/20281,2,4 | 936,001 |
1,605,215 | Restaurant Brands International 7.58% (1-Month Term SOFR+225 basis points), 9/23/20301,2,5 | 1,606,218 |
1,262,998 | SBA Senior Finance LLC 7.33% (1-Month Term SOFR+200 basis points), 1/27/20311,2 | 1,266,749 |
United Airlines, Inc. | ||
830,050 | 10.73% (3-Month Term SOFR+525 basis points), 6/21/20271,2,4 | 855,798 |
307,000 | 8.08% (1-Month Term SOFR+275 basis points), 2/24/20311,2 | 307,863 |
998,000 | Virgin Media Bristol LLC 7.94% (1-Month Term SOFR+250 basis points), 1/31/20281,2,4 | 984,407 |
1,149,141 | Vistra Operations Co. LLC 0.00% (1-Month Term SOFR+175 basis points), 12/31/20251,2,4 | 1,149,325 |
AAM/HIMCO Short Duration Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
Principal Amount | Value | |
BANK LOANS (Continued) | ||
$263,000 | XPO, Inc. 7.32% (1-Month Term SOFR+200 basis points), 2/28/20311,2 | $262,624 |
TOTAL BANK LOANS | ||
(Cost $14,548,002) | 14,649,646 | |
COLLATERALIZED MORTGAGE OBLIGATIONS — 7.0% | ||
Angel Oak Mortgage Trust | ||
258,846 | Series 2019-5, Class A3, 2.92%, 10/25/20491,3,6 | 250,115 |
2,000,000 | Series 2020-R1, Class B1, 3.67%, 4/25/20531,3,6 | 1,694,136 |
125,176 | Series 2019-6, Class A3, 2.93%, 11/25/20591,3,6 | 121,037 |
204,920 | Series 2020-1, Class A3, 2.77%, 12/25/20591,3,6 | 193,718 |
1,332,800 | Series 2020-3, Class B2, 5.35%, 4/25/20651,3,6 | 1,226,413 |
377,318 | Series 2020-5, Class A3, 2.04%, 5/25/20651,3,6 | 352,840 |
724,446 | Series 2020-4, Class M1, 3.80%, 6/25/20651,3,6 | 664,121 |
1,290,192 | Arroyo Mortgage Trust Series 2019-2, Class M1, 4.76%, 4/25/20491,3,6 | 1,178,950 |
BRAVO Residential Funding Trust | ||
243,473 | Series 2021-NQM2, Class A2, 1.28%, 3/25/20601,3,6 | 224,821 |
1,286,842 | Series 2021-NQM3, Class B1, 3.91%, 4/25/20601,3,6 | 1,119,227 |
Citigroup Mortgage Loan Trust, Inc. | ||
650,771 | Series 2015-RP2, Class B4, 4.25%, 1/25/20531,3 | 616,925 |
86,199 | Series 2018-RP1, Class A1, 3.00%, 9/25/20641,3,6 | 83,028 |
1,318,061 | COLT Mortgage Loan Trust Series 2021-4, Class A3, 1.65%, 10/25/20661,3,6 | 1,060,579 |
995,053 | Credit Suisse Mortgage Capital Trust Series 2019-AFC1, Class M1, 3.06%, 7/25/20491,3,6 | 762,251 |
Deephaven Residential Mortgage Trust | ||
890,282 | Series 2021-3, Class A1, 1.19%, 8/25/20661,3,6 | 755,348 |
880,917 | Series 2021-3, Class A3, 1.55%, 8/25/20661,3,6 | 747,693 |
475,665 | Series 2021-4, Class A3, 2.24%, 11/25/20661,3,6 | 405,104 |
786,481 | Series 2022-1, Class A1, 2.20%, 1/25/20671,3,6 | 702,123 |
Ellington Financial Mortgage Trust | ||
1,918,667 | Series 2020-1, Class A2, 3.15%, 5/25/20651,3,6 | 1,793,347 |
114,766 | Series 2020-2, Class A2, 1.49%, 10/25/20651,3,6 | 103,944 |
272,124 | Series 2021-1, Class A3, 1.11%, 2/25/20661,3,6 | 227,536 |
198,378 | FWD Securitization Trust Series 2020-INV1, Class A1, 2.24%, 1/25/20501,3,6 | 181,979 |
1,156,772 | GCAT Trust Series 2021-NQM5, Class A2, 1.42%, 7/25/20661,3,6 | 921,256 |
1,275,000 | Mill City Mortgage Trust Series 2015-1, Class B1, 3.82%, 6/25/20561,3,6 | 1,202,428 |
New Residential Mortgage Loan Trust | ||
90,193 | Series 2020-NQM1, Class A2, 2.72%, 1/26/20601,3,6 | 82,669 |
180,387 | Series 2020-NQM1, Class A3, 2.77%, 1/26/20601,3,6 | 165,157 |
1,416,926 | NLT Trust Series 2021-INV2, Class A3, 1.52%, 8/25/20561,3,6 | 1,176,071 |
Residential Mortgage Loan Trust | ||
6,419 | Series 2019-2, Class A3, 3.22%, 5/25/20591,3,6 | 6,364 |
AAM/HIMCO Short Duration Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
Principal Amount | Value | |
COLLATERALIZED MORTGAGE OBLIGATIONS (Continued) | ||
$54,996 | Series 2019-3, Class A3, 3.04%, 9/25/20591,3,6 | $53,415 |
2,400,615 | Series 2020-2, Class A3, 2.91%, 5/25/20601,3,6 | 2,185,928 |
833,333 | Series 2020-2, Class M1, 3.56%, 5/25/20601,3,6 | 733,336 |
120,215 | Series 2021-1R, Class A3, 1.20%, 1/25/20651,3,6 | 110,993 |
SG Residential Mortgage Trust | ||
83,523 | Series 2019-3, Class A2, 2.88%, 9/25/20591,3,6 | 81,873 |
86,448 | Series 2019-3, Class A3, 3.08%, 9/25/20591,3,6 | 84,770 |
1,020,301 | Series 2021-1, Class A3, 1.56%, 7/25/20611,3,6 | 808,254 |
1,418,858 | Series 2020-2, Class M1, 3.19%, 5/25/20651,3,6 | 1,189,134 |
1,200,000 | Series 2020-2, Class B1, 4.25%, 5/25/20651,3,6 | 1,046,322 |
Starwood Mortgage Residential Trust | ||
815,909 | Series 2021-4, Class A1, 1.16%, 8/25/20561,3,6 | 677,742 |
426,539 | Series 2021-4, Class A3, 1.58%, 8/25/20561,3,6 | 351,322 |
477,592 | Series 2021-1, Class A1, 1.22%, 5/25/20651,3,6 | 416,587 |
756,136 | Toorak Mortgage Corp. Trust Series 2021-INV1, Class A3, 1.56%, 7/25/20561,3,6 | 646,397 |
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS | ||
(Cost $30,604,543) | 26,405,253 | |
COMMERCIAL MORTGAGE-BACKED SECURITIES — 10.9% | ||
9,000,000 | BAMLL Commercial Mortgage Securities Trust Series 2015-200P, Class XB, 0.11%, 4/14/20331,3,6,7 | 7,416 |
900,000 | BB-UBS Trust Series 2012-SHOW, Class E, 4.03%, 11/5/20361,3,6 | 796,123 |
1,500,000 | BFLD Trust Series 2020-EYP, Class D, 8.39% (1-Month Term SOFR+307 basis points), 10/15/20352,3,8 | 0 |
BX Trust | ||
1,000,000 | 7.28%, 4/15/20292,3 | 997,500 |
766,262 | Series 2021-MFM1, Class D, 6.94% (1-Month Term SOFR+161 basis points), 1/15/20342,3 | 757,641 |
1,200,000 | Series 2021-LBA, Class FJV, 7.84% (1-Month Term SOFR+252 basis points), 2/15/20362,3 | 1,146,014 |
948,972 | Series 2021-LBA, Class FV, 7.84% (1-Month Term SOFR+252 basis points), 2/15/20362,3 | 918,923 |
800,000 | Series 2021-VOLT, Class F, 7.84% (1-Month Term SOFR+251 basis points), 9/15/20362,3 | 792,000 |
1,500,000 | Series 2021-LGCY, Class F, 7.39% (1-Month Term SOFR+206 basis points), 10/15/20362,3 | 1,468,239 |
1,500,000 | Series 2021-PAC, Class F, 7.84% (1-Month Term SOFR+251 basis points), 10/15/20362,3 | 1,465,308 |
1,050,000 | Series 2020-VKNG, Class E, 7.54% (1-Month Term SOFR+221 basis points), 10/15/20372,3 | 1,040,485 |
1,058,160 | Series 2021-VINO, Class E, 7.39% (1-Month Term SOFR+207 basis points), 5/15/20382,3 | 1,046,256 |
1,412,390 | Series 2021-SOAR, Class F, 7.79% (1-Month Term SOFR+246 basis points), 6/15/20382,3 | 1,395,618 |
AAM/HIMCO Short Duration Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
Principal Amount | Value | |
COMMERCIAL MORTGAGE-BACKED SECURITIES (Continued) | ||
$1,172,895 | Series 2021-XL2, Class F, 7.68% (1-Month Term SOFR+236 basis points), 10/15/20382,3 | $1,161,166 |
885,590 | Series 2022-LP2, Class E, 7.93% (1-Month Term SOFR+261 basis points), 2/15/20392,3 | 869,979 |
1,000,000 | 7.24%, 3/15/20413 | 998,749 |
600,000 | CAMB Commercial Mortgage Trust Series 2019-LIFE, Class F, 8.17% (1-Month Term SOFR+285 basis points), 12/15/20372,3 | 595,500 |
2,269,339 | CFCRE Commercial Mortgage Trust Series 2016-C3, Class XA, 0.98%, 1/10/20481,6,7 | 30,003 |
1,965,981 | Cold Storage Trust Series 2020-ICE5, Class E, 8.20% (1-Month Term SOFR+288 basis points), 11/15/20372,3 | 1,962,295 |
COMM Mortgage Trust | ||
668,888 | Series 2014-CR19, Class XA, 0.79%, 8/10/20471,6,7 | 915 |
1,530,000 | Series 2015-DC1, Class AM, 3.72%, 2/10/20481 | 1,474,600 |
Credit Suisse Mortgage Capital Trust | ||
7,020,098 | Series 2020-NET, Class X, 1.25%, 8/15/20373,6 | 88,896 |
1,400,000 | Series 2020-NET, Class B, 2.82%, 8/15/20373 | 1,299,981 |
2,285,639 | Extended Stay America Trust Series 2021-ESH, Class C, 7.14% (1-Month Term SOFR+181 basis points), 7/15/20382,3 | 2,283,382 |
5,002,661 | Fannie Mae-Aces Series 2014-M8, Class X2, 0.31%, 6/25/20246,7 | 165 |
Freddie Mac Multifamily Structured Pass-Through Certificates | ||
4,101,759 | Series K044, Class X1, 0.74%, 1/25/20251,6,7 | 17,424 |
900,000 | Series K043, Class X3, 1.63%, 2/25/20431,6,7 | 10,868 |
2,900,000 | Series K046, Class X3, 1.51%, 4/25/20431,6,7 | 32,480 |
900,000 | Series K050, Class X3, 1.55%, 10/25/20431,6,7 | 18,617 |
1,100,000 | Series K052, Class X3, 1.62%, 1/25/20441,6,7 | 27,827 |
1,721,882 | Series K097, Class X3, 2.02%, 9/25/20461,6,7 | 156,455 |
Government National Mortgage Association | ||
2,220,904 | Series 2013-139, Class IO, 0.33%, 10/16/20541,6,7 | 47,352 |
237,697 | Series 2013-175, Class IO, 0.16%, 5/16/20551,6,7 | 527 |
149,092 | Series 2014-120, Class IO, 0.46%, 4/16/20561,6,7 | 1,524 |
2,253,387 | Series 2017-185, Class IO, 0.55%, 4/16/20591,6,7 | 77,332 |
3,125,223 | Series 2017-169, Class IO, 0.58%, 1/16/20601,6,7 | 101,254 |
2,124,025 | Series 2018-41, Class IO, 0.60%, 5/16/20601,6,7 | 73,799 |
3,455,563 | Series 2018-52, Class IO, 0.60%, 7/16/20601,6,7 | 143,116 |
1,072,987 | Series 2019-8, Class IO, 0.76%, 11/16/20601,6,7 | 57,556 |
17,109,179 | Series 2020-8, Class IO, 0.53%, 1/16/20621,6,7 | 659,540 |
GS Mortgage Securities Trust | ||
1,439,000 | Series 2016-GS4, Class A4, 3.44%, 11/10/20491,6 | 1,364,684 |
1,610,000 | Series 2017-GS7, Class A4, 3.43%, 8/10/20501 | 1,505,121 |
1,474,455 | Life Mortgage Trust Series 2021-BMR, Class F, 7.79% (1-Month Term SOFR+246 basis points), 3/15/20382,3 | 1,426,535 |
AAM/HIMCO Short Duration Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
Principal Amount | Value | |
COMMERCIAL MORTGAGE-BACKED SECURITIES (Continued) | ||
$503,326 | MHC Commercial Mortgage Trust Series 2021-MHC, Class F, 8.04% (1-Month Term SOFR+272 basis points), 4/15/20382,3 | $498,295 |
1,000,000 | Morgan Stanley Bank of America Series 2016-C32, Class A4, 3.72%, 12/15/20491 | 957,844 |
1,500,000 | MTN Commercial Mortgage Trust Series 2022-LPFL, Class E, 9.62% (1-Month Term SOFR+429 basis points), 3/15/20392,3 | 1,418,622 |
1,373,065 | OPG Trust Series 2021-PORT, Class F, 7.39% (1-Month Term SOFR+206 basis points), 10/15/20362,3 | 1,342,171 |
1,500,000 | SMRT Series 2022-MINI, Class E, 8.03% (1-Month Term SOFR+270 basis points), 1/15/20392,3 | 1,453,329 |
1,339,608 | SREIT Trust Series 2021-MFP, Class F, 8.06% (1-Month Term SOFR+274 basis points), 11/15/20382,3 | 1,330,543 |
11,932,220 | UBS Commercial Mortgage Trust Series 2019-C18, Class XA, 1.00%, 12/15/20521,6,7 | 454,737 |
Wells Fargo Commercial Mortgage Trust | ||
1,169,986 | Series 2016-LC24, Class A4, 2.94%, 10/15/20491 | 1,102,247 |
1,500,000 | Series 2016-NXS6, Class A4, 2.92%, 11/15/20491 | 1,415,939 |
1,500,000 | Series 2016-LC25, Class A4, 3.64%, 12/15/20591 | 1,434,335 |
2,078,888 | Wells Fargo Commercial Mortgage Trust Series 2015-LC22, Class XA, 0.73%, 9/15/20581,6,7 | 17,145 |
WFRBS Commercial Mortgage Trust | ||
3,200,000 | Series 2014-C21, Class XB, 0.64%, 8/15/20471,6,7 | 5,904 |
1,000,000 | Series 2014-C21, Class AS, 3.89%, 8/15/20471 | 962,596 |
815,000 | Series 2014-C25, Class AS, 3.98%, 11/15/20471 | 787,651 |
6,400,000 | Series 2014-C22, Class XB, 0.45%, 9/15/20571,6,7 | 10,163 |
TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES | ||
(Cost $43,782,194) | 41,510,686 | |
CORPORATE BONDS — 33.5% | ||
COMMUNICATIONS — 1.2% | ||
2,565,000 | NBN Co., Ltd. 0.88%, 10/8/20241,3,5 | 2,502,960 |
500,000 | Netflix, Inc. 4.37%, 11/15/2026 | 492,582 |
1,505,000 | T-Mobile USA, Inc. 2.25%, 2/15/20261 | 1,422,708 |
4,418,250 | ||
CONSUMER DISCRETIONARY — 4.3% | ||
158,000 | Adient Global Holdings Ltd. 7.00%, 4/15/20281,3,5 | 161,450 |
1,430,000 | Aptiv PLC / Aptiv Corp. 2.40%, 2/18/20251,5 | 1,388,193 |
AAM/HIMCO Short Duration Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
Principal Amount | Value | |
CORPORATE BONDS (Continued) | ||
CONSUMER DISCRETIONARY (Continued) | ||
BMW U.S. Capital LLC | ||
$1,600,000 | 5.88% (SOFR Index+53 basis points), 4/1/20242,3 | $1,600,000 |
2,000,000 | 5.71% (SOFR Index+38 basis points), 8/12/20242,3 | 2,002,184 |
1,200,000 | Ford Motor Credit Co. LLC 3.38%, 11/13/20251 | 1,154,702 |
General Motors Financial Co., Inc. | ||
2,000,000 | 5.95% (SOFR Rate+62 basis points), 10/15/20242 | 1,999,914 |
1,000,000 | 5.40%, 5/8/2027 | 1,002,664 |
500,000 | Hilton Domestic Operating Co., Inc. 5.37%, 5/1/20251,3 | 498,307 |
3,000,000 | Hyundai Capital America 1.00%, 9/17/20243 | 2,935,029 |
1,488,000 | International Game Technology PLC 4.12%, 4/15/20261,3,5 | 1,442,745 |
80,000 | Prime Security Services Borrower LLC / Prime Finance, Inc. 5.25%, 4/15/20243 | 79,855 |
1,640,000 | Toyota Motor Credit Corp. 5.61% (SOFR Rate+29 basis points), 9/13/20242 | 1,640,603 |
480,000 | United Airlines, Inc. 4.37%, 4/15/20261,3 | 464,276 |
16,369,922 | ||
CONSUMER STAPLES — 0.1% | ||
400,000 | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC 3.25%, 3/15/20261,3 | 381,409 |
381,409 | ||
ENERGY — 1.5% | ||
Buckeye Partners LP | ||
307,000 | 4.13%, 3/1/20251,3 | 300,041 |
529,000 | 3.95%, 12/1/20261 | 505,857 |
859,000 | CrownRock LP / CrownRock Finance, Inc. 5.62%, 10/15/20251,3 | 857,101 |
DCP Midstream Operating LP | ||
327,000 | 5.38%, 7/15/20251 | 325,786 |
149,000 | 5.62%, 7/15/20271 | 150,189 |
192,000 | Devon Energy Corp. 5.25%, 9/15/20241 | 191,523 |
303,000 | EnerSys 4.38%, 12/15/20271,3 | 286,508 |
EQT Corp. | ||
382,000 | 6.12%, 2/1/20251 | 382,461 |
777,000 | 3.13%, 5/15/20261,3 | 736,416 |
882,000 | PDC Energy, Inc. 5.75%, 5/15/20261 | 880,520 |
AAM/HIMCO Short Duration Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
Principal Amount | Value | |
CORPORATE BONDS (Continued) | ||
ENERGY (Continued) | ||
$1,000,000 | Western Midstream Operating LP 3.95%, 6/1/20251 | $979,595 |
5,595,997 | ||
FINANCIALS — 22.1% | ||
2,000,000 | AerCap Ireland Capital DAC / AerCap Global Aviation Trust 1.65%, 10/29/20241,5 | 1,951,210 |
1,620,000 | American Express Co. 6.25% (SOFR Index+93 basis points), 3/4/20251,2 | 1,628,881 |
577,000 | Avolon Holdings Funding Ltd. 3.95%, 7/1/20241,3,5 | 573,660 |
Bank of America Corp. | ||
2,000,000 | 6.03% (SOFR Rate+69 basis points), 4/22/20251,2 | 2,000,278 |
2,000,000 | 3.84% (SOFR Rate+111 basis points), 4/25/20251,6 | 1,997,324 |
3,000,000 | Bank of Nova Scotia 5.79% (SOFR Index+45 basis points), 4/15/20242,5 | 3,000,318 |
1,000,000 | Barclays PLC 7.32% (USD 1 Year Tsy+305 basis points), 11/2/20261,5,6 | 1,024,680 |
Capital One Financial Corp. | ||
1,500,000 | 4.17% (SOFR Rate+137 basis points), 5/9/20251,6 | 1,497,013 |
1,000,000 | 5.70% (SOFR Rate+190 basis points), 2/1/20301,6 | 1,008,300 |
1,500,000 | Charles Schwab Corp. 1.15%, 5/13/20261 | 1,383,238 |
Citigroup, Inc. | ||
2,000,000 | 6.00% (SOFR Rate+67 basis points), 5/1/20251,2 | 2,000,420 |
2,000,000 | 6.02% (SOFR Rate+69 basis points), 1/25/20261,2 | 2,002,170 |
2,000,000 | 5.61% (SOFR Rate+155 basis points), 9/29/20261,6 | 2,003,674 |
4,000,000 | Cooperatieve Rabobank UA 5.72% (SOFR Index+38 basis points), 1/10/20252,5 | 4,003,672 |
2,000,000 | Credit Suisse Group A.G. 3.70%, 2/21/20255 | 1,965,810 |
Deutsche Bank A.G. | ||
2,000,000 | 0.90%, 5/28/20245 | 1,985,240 |
835,000 | 5.71% (SOFR Rate+159 basis points), 2/8/20281,5,6 | 834,369 |
428,000 | Fortress Transportation & Infrastructure Investors LLC 6.50%, 10/1/20251,3 | 427,332 |
1,110,000 | Huntington National Bank 4.01% (SOFR Rate+121 basis points), 5/16/20251,6 | 1,105,843 |
3,000,000 | ING Groep N.V. 6.97% (SOFR Index+164 basis points), 3/28/20261,2,5 | 3,030,351 |
3,000,000 | JPMorgan Chase & Co. 6.25% (SOFR Rate+92 basis points), 2/24/20261,2 | 3,014,346 |
3,000,000 | KeyBank N.A. 5.64% (SOFR Index+32 basis points), 6/14/20241,2 | 2,999,997 |
2,000,000 | Macquarie Bank Ltd. 6.64% (SOFR Rate+131 basis points), 3/21/20252,3,5 | 2,019,234 |
AAM/HIMCO Short Duration Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
Principal Amount | Value | |
CORPORATE BONDS (Continued) | ||
FINANCIALS (Continued) | ||
$2,000,000 | Macquarie Group Ltd. 6.05% (SOFR Rate+71 basis points), 10/14/20251,2,3,5 | $1,998,520 |
2,000,000 | MassMutual Global Funding II 5.61% (SOFR Rate+27 basis points), 10/21/20242,3 | 2,000,250 |
3,000,000 | Metropolitan Life Global Funding I 5.63% (SOFR Rate+30 basis points), 9/27/20242,3 | 3,001,827 |
1,500,000 | Mitsubishi UFJ Financial Group, Inc. 5.06% (USD 1 Year Tsy+155 basis points), 9/12/20251,5,6 | 1,494,942 |
Morgan Stanley | ||
2,000,000 | 1.16% (SOFR Rate+56 basis points), 10/21/20251,6 | 1,947,104 |
2,000,000 | 6.28% (SOFR Rate+95 basis points), 2/18/20261,2 | 2,009,920 |
1,000,000 | 5.17% (SOFR Rate+145 basis points), 1/16/20301,6 | 1,001,332 |
889,000 | MPT Operating Partnership LP / MPT Finance Corp. 5.00%, 10/15/20271 | 750,094 |
1,765,000 | National Bank of Canada 5.82% (SOFR Rate+49 basis points), 8/6/20242,5 | 1,766,165 |
1,000,000 | NatWest Markets PLC 6.78% (SOFR Rate+145 basis points), 3/22/20252,3,5 | 1,009,500 |
2,000,000 | New York Life Global Funding 5.67% (SOFR Index+33 basis points), 1/14/20252,3 | 2,001,020 |
371,000 | OneMain Finance Corp. 3.50%, 1/15/20271 | 344,362 |
940,000 | Penske Truck Leasing Co. LP / PTL Finance Corp. 5.75%, 5/24/20261,3 | 946,993 |
703,000 | RLJ Lodging Trust LP 3.75%, 7/1/20261,3 | 669,407 |
5,000,000 | Royal Bank of Canada 5.69% (SOFR Index+36 basis points), 7/29/20242,5 | 5,000,995 |
727,000 | SLM Corp. 4.20%, 10/29/20251 | 709,438 |
2,000,000 | Standard Chartered PLC 6.25% (SOFR Rate+93 basis points), 11/23/20251,2,3,5 | 1,999,620 |
2,000,000 | Toronto-Dominion Bank 5.75% (SOFR Rate+41 basis points), 1/10/20252,5 | 1,998,640 |
3,000,000 | Truist Financial Corp. 5.72% (SOFR Rate+40 basis points), 6/9/20251,2 | 2,992,461 |
VICI Properties LP / VICI Note Co., Inc. | ||
888,000 | 3.50%, 2/15/20251,3 | 868,514 |
800,000 | 4.25%, 12/1/20261,3 | 769,256 |
2,000,000 | Wells Fargo & Co. 3.91% (SOFR Rate+132 basis points), 4/25/20261,6 | 1,963,124 |
3,000,000 | Westpac Banking Corp. 5.63% (SOFR Rate+30 basis points), 11/18/20242,5 | 3,001,740 |
83,702,584 |
AAM/HIMCO Short Duration Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
Principal Amount | Value | |
CORPORATE BONDS (Continued) | ||
HEALTH CARE — 0.6% | ||
$835,000 | Astrazeneca Finance LLC 0.70%, 5/28/20241 | $828,809 |
IQVIA, Inc. | ||
510,000 | 5.00%, 10/15/20261,3 | 499,081 |
1,000,000 | 5.00%, 5/15/20271,3 | 976,420 |
2,304,310 | ||
INDUSTRIALS — 2.5% | ||
913,000 | Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc. 4.13%, 8/15/20261,3,5 | 826,602 |
1,000,000 | BAE Systems PLC 5.12%, 3/26/20293 | 1,003,619 |
2,000,000 | Caterpillar Financial Services Corp. 5.57% (SOFR Rate+24 basis points), 5/17/20242 | 2,000,416 |
2,000,000 | Daimler Trucks Finance North America LLC 6.08% (SOFR Rate+75 basis points), 12/13/20242,3 | 2,006,990 |
542,000 | Herc Holdings, Inc. 5.50%, 7/15/20271,3 | 532,293 |
2,737,000 | Penske Truck Leasing Co. LP / PTL Finance Corp. 2.70%, 11/1/20241,3 | 2,688,541 |
400,000 | XPO, Inc. 6.25%, 6/1/20281,3 | 403,512 |
9,461,973 | ||
MATERIALS — 0.4% | ||
1,000,000 | Glencore Funding LLC 5.34%, 4/4/20273 | 999,893 |
536,000 | SNF Group S.A. 3.12%, 3/15/20271,3,5 | 496,148 |
1,496,041 | ||
TECHNOLOGY — 0.5% | ||
2,000,000 | Hewlett Packard Enterprise Co. 1.45%, 4/1/20241 | 2,000,000 |
2,000,000 | ||
UTILITIES — 0.3% | ||
182,000 | Calpine Corp. 5.25%, 6/1/20261,3 | 180,107 |
1,100,000 | Entergy Louisiana LLC 0.95%, 10/1/20241 | 1,074,972 |
1,255,079 | ||
TOTAL CORPORATE BONDS | ||
(Cost $127,974,098) | 126,985,565 | |
U.S. GOVERNMENT AND AGENCIES — 22.3% | ||
United States Treasury Note |
AAM/HIMCO Short Duration Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
Principal Amount | Value | |
U.S. GOVERNMENT AND AGENCIES (Continued) | ||
$10,000,000 | 0.25%, 5/15/2024 | $9,938,830 |
10,000,000 | 3.25%, 8/31/2024 | 9,915,630 |
10,000,000 | 2.75%, 2/28/2025 | 9,793,850 |
10,000,000 | 3.50%, 9/15/2025 | 9,814,840 |
10,000,000 | 4.62%, 9/15/2026 | 10,025,000 |
10,000,000 | 4.13%, 9/30/2027 | 9,926,560 |
10,000,000 | 4.38%, 11/30/2028 | 10,058,200 |
10,000,000 | 4.00%, 1/31/2029 | 9,902,340 |
5,000,000 | 4.25%, 2/28/2029 | 5,009,375 |
TOTAL U.S. GOVERNMENT AND AGENCIES | ||
(Cost $84,874,059) | 84,384,625 |
Number of Shares | ||
SHORT-TERM INVESTMENTS — 6.3% | ||
24,060,943 | Goldman Sachs Financial Square Government Fund - Institutional Class 5.13%9 | 24,060,943 |
TOTAL SHORT-TERM INVESTMENTS | ||
(Cost $24,060,943) | 24,060,943 | |
TOTAL INVESTMENTS — 95.9% | ||
(Cost $372,569,733) | 363,613,323 | |
Other Assets in Excess of Liabilities — 4.1% | 15,646,574 | |
TOTAL NET ASSETS — 100.0% | $379,259,897 |
LLC – Limited Liability Company |
LP – Limited Partnership |
PLC – Public Limited Company |
IO – Interest Only |
MTN – Medium Term Note |
1Callable. |
2Floating rate security. |
3Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities are restricted and may be resold in transactions exempt from registration normally to qualified institutional buyers. The total value of these securities is $143,027,106, which represents 37.7% of total net assets of the Fund. |
4Bank loans generally pay interest at rates which are periodically determined by reference to a base lending rate plus a premium. All loans carry a variable rate of interest. These base lending rates are generally (i) the Prime Rate offered by one or more major United States banks, (ii) the lending rate offered by one or more European banks such as the London Interbank Offered Rate ("LIBOR"), (iii) the Certificate of Deposit rate, or (iv) Secured Overnight Financing Rate ("SOFR"). Bank Loans, while exempt from registration, under the Securities Act of 1933, contain certain restrictions on resale and cannot be sold publicly. Floating rate bank loans often require prepayments from excess cash flow or permit the borrower to repay at its election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. |
5Foreign security denominated in U.S. Dollars. |
6Variable rate security. Rate shown is the rate in effect as of March 31, 2024. |
7Interest-only security. |
8Level 3 securities fair valued under procedures established by the Board of Trustees, represents 0.0% of Net Assets. The total value of these securities is $0. |
9The rate is the annualized seven-day yield at period end. |