AAM/Insight Select Income Fund
SCHEDULE OF INVESTMENTS
As of March 31, 2024 (Unaudited)
Principal Amount1 | Value | |||||||
ASSET-BACKED SECURITIES — 11.1% | ||||||||
64,654 | Amur Equipment Finance Receivables LLC Series 2022-2A, Class A2, 5.30%, 6/21/20282,3 | $ | 64,494 | |||||
270,000 | Antares CLO Ltd. Series 2017-1A, Class CR, 8.28% (3-Month Term SOFR+296 basis points), 4/20/20332,3,4 | 268,278 | ||||||
100,000 | Auxilior Term Funding LLC Series 2023-1A, Class A2, 6.18%, 12/15/20282,3 | 100,537 | ||||||
150,000 | Avis Budget Rental Car Funding AESOP LLC Series 2020-1A, Class A, 2.33%, 8/20/20262,3 | 144,590 | ||||||
271,858 | Blackbird Capital Aircraft Series 2021-1A, Class B, 3.45%, 7/15/20462,3 | 236,530 | ||||||
500,815 | CF Hippolyta Issuer LLC Series 2020-1, Class A1, 1.69%, 7/15/20602,3 | 468,243 | ||||||
89,079 | Chesapeake Funding II LLC Series 2023-2A, Class A1, 6.16%, 10/15/20352,3 | 89,628 | ||||||
109,000 | COMM Mortgage Trust Series 2020-CX, Class D, 2.68%, 11/10/20462,3,5 | 84,766 | ||||||
324,524 | Commonbond Student Loan Trust Series 2019-AGS, Class A1, 2.54%, 1/25/20472,3 | 288,677 | ||||||
253,306 | Cross 2024-H2 Mortgage Trust 6.42%, 4/25/20692,3,6 | 253,303 | ||||||
254,000 | Daimler Trucks Retail Trust Series 2023-1, Class A3, 5.90%, 3/15/20272 | 256,197 | ||||||
598,000 | DataBank Issuer Series 2021-2A, Class A2, 2.40%, 10/25/20512,3 | 534,138 | ||||||
608,005 | DB Master Finance LLC Series 2021-1A, Class A2I, 2.05%, 11/20/20512,3 | 556,102 | ||||||
525,150 | Domino's Pizza Master Issuer LLC Series 2021-1A, Class A2I, 2.66%, 4/25/20512,3 | 467,451 | ||||||
1,250,000 | Flatiron CLO Ltd. Series 2018-1A, Class C, 7.28% (3-Month Term SOFR+196 basis points), 4/17/20312,3,4 | 1,251,182 | ||||||
545,000 | Flexential Issuer Series 2021-1A, Class A2, 3.25%, 11/27/20512,3 | 494,051 | ||||||
Ford Credit Auto Owner Trust | ||||||||
370,000 | Series 2022-C, Class B, 5.03%, 2/15/20282 | 368,144 | ||||||
194,000 | Series 2024-1, Class A, 4.87%, 8/15/20362,3 | 193,803 | ||||||
1,500,000 | Fortress Credit Opportunities CLO Ltd. Series 2017-9A, Class A1TR, 7.13% (3-Month Term SOFR+181 basis points), 10/15/20332,3,4 | 1,498,980 | ||||||
186,756 | Fortress Credit Opportunities XVII CLO Ltd. Series 2022-17A, Class A, 6.68% (3-Month Term SOFR+137 basis points), 1/15/20302,3,4 | 186,544 | ||||||
Golub Capital Partners CLO Ltd. | ||||||||
850,000 | Series 2018-36A, Class C, 7.63% (3-Month Term SOFR+236 basis points), 2/5/20312,3,4 | 836,227 | ||||||
250,000 | Series 2020-47A, Class C1, 8.78% (3-Month Term SOFR+351 basis points), 5/5/20322,3,4 | 249,126 |
AAM/Insight Select Income Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
Principal Amount1 | Value | |||||||
ASSET-BACKED SECURITIES (Continued) | ||||||||
81,752 | Hilton Grand Vacations Trust Series 2023-1A, Class A, 5.72%, 1/25/20382,3 | $ | 83,782 | |||||
188,099 | ITE Rail Fund Levered LP Series 2021-1A, Class A, 2.25%, 2/28/20512,3 | 167,203 | ||||||
250,000 | IVY Hill Middle Market Credit Fund Ltd. Series 12A, Class BR, 8.48% (3-Month Term SOFR+316 basis points), 7/20/20332,3,4 | 245,340 | ||||||
155,773 | JP Morgan Mortgage Trust Series 6.15%, 6/25/20542,3,5 | 155,770 | ||||||
11,603 | Marlette Funding Trust Series 2022-3A, Class A, 5.18%, 11/15/20322,3 | 11,584 | ||||||
600,000 | MCF CLO IX Ltd. 7.29%, 4/17/20362,3,4 | 600,000 | ||||||
MF1 Ltd. | ||||||||
910,500 | Series 2021-FL7, Class AS, 6.89% (1-Month Term SOFR+157 basis points), 10/16/20362,3,4 | 891,721 | ||||||
448,000 | Series 2022-FL8, Class C, 7.53% (1-Month Term SOFR+220 basis points), 2/19/20372,3,4 | 431,279 | ||||||
88,908 | Navient Private Education Refi Loan Trust Series 2021-A, Class A, 0.84%, 5/15/20692,3 | 77,987 | ||||||
1,058,000 | New Economy Assets Phase 1 Sponsor LLC Series 2021-1, Class A1, 1.91%, 10/20/20612,3 | 927,317 | ||||||
148,753 | New Residential Mortgage Loan Trust Series 2021-NQ2R, Class A1, 0.94%, 10/25/20582,3,5 | 137,177 | ||||||
147,000 | Oscar U.S. Funding XVI LLC Series 2024-1A, Class A3, 5.54%, 2/10/20282,3 | 146,871 | ||||||
130,950 | Purewest Funding LLC Series 2021-1, Class A1, 4.09%, 12/22/20362,3 | 126,752 | ||||||
117,710 | RCKT Mortgage Trust 6.39%, 4/25/20443,5 | 117,708 | ||||||
238,000 | Santander Drive Auto Receivables Trust Series 2022-5, Class C, 4.74%, 10/16/20282 | 235,156 | ||||||
91,407 | SFS Auto Receivables Securitization Trust Series 2023-1A, Class A2A, 5.89%, 3/22/20272,3 | 91,552 | ||||||
1,086,467 | Slam Ltd. Series 2021-1A, Class A, 2.43%, 6/15/20462,3 | 951,741 | ||||||
SMB Private Education Loan Trust | ||||||||
51,800 | Series 2017-B, Class A2B, 6.19% (1-Month Term SOFR+86 basis points), 10/15/20352,3,4 | 51,620 | ||||||
421,759 | Series 2019-B, Class A2B, 6.44% (1-Month Term SOFR+112 basis points), 6/15/20372,3,4 | 422,841 | ||||||
272,000 | Tesla Auto Lease Trust Series 2023-B, Class A3, 6.13%, 9/21/20262,3 | 274,503 | ||||||
433,526 | TIF Funding II LLC Series 2021-1A, Class A, 1.65%, 2/20/20462,3 | 376,526 | ||||||
333,000 | TIF Funding III LLC 5.48%, 5/22/20343 | 334,981 | ||||||
Willis Engine Structured Trust |
AAM/Insight Select Income Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
Principal Amount1 | Value | |||||||
ASSET-BACKED SECURITIES (Continued) | ||||||||
512,737 | Series 2018-A, Class A, 4.75%, 9/15/20432,3,6 | $ | 489,418 | |||||
591,736 | Series 2021-A, Class A, 3.10%, 5/15/20462,3 | 506,279 | ||||||
TOTAL ASSET-BACKED SECURITIES | ||||||||
(Cost $17,604,331) | 16,746,099 | |||||||
COMMERCIAL MORTGAGE-BACKED SECURITIES — 0.6% | ||||||||
162,000 | BXHPP Trust FILM Series 2021-FILM, Class C, 6.54% (1-Month Term SOFR+121 basis points), 8/15/20363,4 | 150,318 | ||||||
153,022 | COLT Mortgage Loan Trust Series 2023-3, Class A2, 7.43%, 9/25/20682,3,6 | 155,048 | ||||||
554,000 | PMT Issuer Trust - FMSR Series 2021-FT1, Class A, 8.45% (1-Month Term SOFR+312 basis points), 3/25/20262,3,4 | 547,726 | ||||||
TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES | ||||||||
(Cost $869,020) | 853,092 | |||||||
CORPORATE BONDS — 82.3% | ||||||||
COMMUNICATIONS — 5.5% | ||||||||
AT&T, Inc. | ||||||||
750,000 | 4.75%, 5/15/20462 | 672,389 | ||||||
1,155,000 | 3.55%, 9/15/20552 | 808,566 | ||||||
1,045,000 | Comcast Corp. 3.45%, 2/1/20502 | 763,683 | ||||||
600,000 | Cox Enterprises, Inc. 7.37%, 7/15/20273 | 629,846 | ||||||
521,000 | Fox Corp. 5.58%, 1/25/20492 | 485,163 | ||||||
245,000 | Frontier Communications Holdings LLC 5.00%, 5/1/20282,3 | 227,426 | ||||||
335,000 | Meta Platforms, Inc. 4.45%, 8/15/20522 | 298,228 | ||||||
Paramount Global | ||||||||
419,000 | 4.20%, 5/19/20322 | 348,428 | ||||||
83,000 | 6.87%, 4/30/2036 | 78,461 | ||||||
455,000 | 6.38% (USD 5 Year Tsy+400 basis points), 3/30/20622,7 | 420,190 | ||||||
530,000 | Prosus N.V. 4.99%, 1/19/20522,3,8 | 390,383 | ||||||
489,000 | Time Warner Cable LLC 6.55%, 5/1/2037 | 462,901 | ||||||
48,000 | T-Mobile USA, Inc. 4.95%, 3/15/20282 | 47,913 | ||||||
8,000 | Univision Communications, Inc. 8.00%, 8/15/20282,3 | 8,150 | ||||||
Verizon Communications, Inc. | ||||||||
1,478,000 | 3.50%, 6/28/20322 | 1,598,756 | ||||||
664,000 | 3.55%, 3/22/20512 | 493,910 |
AAM/Insight Select Income Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
Principal Amount1 | Value | |||||||
CORPORATE BONDS (Continued) | ||||||||
COMMUNICATIONS (Continued) | ||||||||
200,000 | Virgin Media Finance PLC 5.00%, 7/15/20302,3,8 | $ | 169,062 | |||||
500,000 | Warnermedia Holdings, Inc. 5.14%, 3/15/20522 | 415,227 | ||||||
8,318,682 | ||||||||
CONSUMER DISCRETIONARY — 9.8% | ||||||||
155,000 | Air Canada 3.88%, 8/15/20262,3,8 | 148,054 | ||||||
155,723 | Air Canada Class A Pass-Through Trust 5.25%, 10/1/20303,8 | 153,069 | ||||||
292,871 | American Airlines Class AA Pass-Through Trust 3.35%, 4/15/2031 | 268,063 | ||||||
American Airlines Class AA Pass-Through Trust | ||||||||
177,550 | 3.65%, 8/15/2030 | 167,615 | ||||||
347,651 | 3.15%, 8/15/2033 | 310,803 | ||||||
American Airlines, Inc./AAdvantage Loyalty IP Ltd. | ||||||||
261,750 | 5.50%, 4/20/20263,8 | 259,925 | ||||||
161,000 | 5.75%, 4/20/20293,8 | 158,388 | ||||||
400,000 | Benteler International A.G. 10.50%, 5/15/20282,3,8 | 432,474 | ||||||
93,284 | British Airways Class A Pass-Through Trust 4.25%, 11/15/20323 | 87,047 | ||||||
418,000 | Builders FirstSource, Inc. 6.37%, 3/1/20342,3 | 419,990 | ||||||
Caesars Entertainment, Inc. | ||||||||
109,000 | 8.12%, 7/1/20272,3 | 111,647 | ||||||
106,000 | 7.00%, 2/15/20302,3 | 108,785 | ||||||
24,000 | 6.50%, 2/15/20322,3 | 24,224 | ||||||
300,000 | Carnival Corp. 6.00%, 5/1/20292,3,8 | 295,889 | ||||||
312,000 | Carnival Holdings Bermuda Ltd. 10.37%, 5/1/20282,3 | 340,419 | ||||||
Delta Air Lines, Inc. / SkyMiles IP Ltd. | ||||||||
71,750 | 4.50%, 10/20/20253,8 | 71,041 | ||||||
623,000 | 4.75%, 10/20/20283,8 | 609,455 | ||||||
ERAC USA Finance LLC | ||||||||
377,000 | 5.20%, 10/30/20342,3 | 376,624 | ||||||
1,101,000 | 4.50%, 2/15/20452,3 | 972,977 | ||||||
Ford Motor Credit Co. LLC | ||||||||
204,000 | 5.80%, 3/5/20272 | 204,764 | ||||||
750,000 | 5.80%, 3/8/2029 | 752,712 | ||||||
550,000 | 7.12%, 11/7/20332 | 592,244 | ||||||
General Motors Financial Co., Inc. | ||||||||
797,000 | 3.60%, 6/21/20302 | 720,015 | ||||||
1,213,000 | 2.35%, 1/8/20312 | 1,003,609 |
AAM/Insight Select Income Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
Principal Amount1 | Value | |||||||
CORPORATE BONDS (Continued) | ||||||||
CONSUMER DISCRETIONARY (Continued) | ||||||||
750,000 | Las Vegas Sands Corp. 2.90%, 6/25/2025 | $ | 721,590 | |||||
185,000 | Macy's Retail Holdings LLC 5.88%, 3/15/20302,3 | 179,790 | ||||||
200,000 | MGM China Holdings Ltd. 4.75%, 2/1/20272,3,8 | 190,521 | ||||||
125,000 | Murphy Oil USA, Inc. 3.75%, 2/15/20312,3 | 109,177 | ||||||
300,000 | NCL Corp Ltd. 7.75%, 2/15/20293 | 311,706 | ||||||
577,000 | Royal Caribbean Cruises Ltd. 6.25%, 3/15/20322,3,8 | 581,921 | ||||||
1,034,000 | Starbucks Corp. 4.45%, 8/15/20492 | 899,966 | ||||||
770,000 | Stellantis Finance US, Inc. 2.69%, 9/15/20312,3 | 648,241 | ||||||
140,159 | United Airlines Class A Pass-Through Trust 5.87%, 4/15/2029 | 139,719 | ||||||
155,000 | United Airlines 2023-1 Class A Pass-Through Trust 5.80%, 7/15/2037 | 157,054 | ||||||
United Airlines Class AA Pass-Through Trust | ||||||||
147,805 | 4.15%, 2/25/2033 | 138,347 | ||||||
507,584 | 2.70%, 11/1/2033 | 434,505 | ||||||
170,916 | United Airlines Class B Pass-Through Trust 4.60%, 9/1/2027 | 164,926 | ||||||
United Airlines, Inc. | ||||||||
64,000 | 4.38%, 4/15/20262,3 | 61,903 | ||||||
273,000 | 4.63%, 4/15/20292,3 | 254,118 | ||||||
158,000 | United Rentals North America, Inc. 6.12%, 3/15/20343 | 158,241 | ||||||
355,000 | Volkswagen Group of America Finance LLC 6.45%, 11/16/20302,3 | 377,538 | ||||||
800,000 | Wynn Macau Ltd. 5.63%, 8/26/20282,3,8 | 758,764 | ||||||
14,877,860 | ||||||||
CONSUMER STAPLES — 3.2% | ||||||||
152,000 | Altria Group, Inc. 5.95%, 2/14/20492 | 154,663 | ||||||
BAT Capital Corp. | ||||||||
320,000 | 2.26%, 3/25/20282 | 284,998 | ||||||
119,000 | 6.34%, 8/2/20302 | 124,114 | ||||||
42,000 | 7.08%, 8/2/20532 | 45,379 | ||||||
386,000 | BAT International Finance PLC 1.67%, 3/25/20262,8 | 359,396 | ||||||
Bimbo Bakeries USA, Inc. |
AAM/Insight Select Income Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
Principal Amount1 | Value | |||||||
CORPORATE BONDS (Continued) | ||||||||
CONSUMER STAPLES (Continued) | ||||||||
376,000 | 6.40%, 1/15/20342,3 | $ | 403,231 | |||||
352,000 | 4.00%, 5/17/20512,3 | 272,618 | ||||||
179,000 | HCA, Inc. 5.60%, 4/1/2034 | 180,421 | ||||||
574,000 | J M Smucker Co. 6.50%, 11/15/20532 | 637,632 | ||||||
206,000 | JBS USA LUX S.A. / JBS USA Food Co. / JBS USA Finance, Inc. 3.63%, 1/15/20322,8 | 176,249 | ||||||
373,000 | Kraft Heinz Foods Co. 5.50%, 6/1/20502 | 369,140 | ||||||
750,000 | Kroger Co. 4.50%, 1/15/20292 | 739,712 | ||||||
229,000 | MARB BondCo PLC 3.95%, 1/29/20312,3,8 | 188,846 | ||||||
600,000 | NBM U.S. Holdings, Inc. 6.62%, 8/6/20292,3 | 596,192 | ||||||
54,000 | Philip Morris International, Inc. 5.63%, 11/17/20292 | 55,645 | ||||||
240,000 | U.S. Foods, Inc. 7.25%, 1/15/20322,3 | 249,775 | ||||||
4,838,011 | ||||||||
ENERGY — 11.4% | ||||||||
414,000 | Aker BP ASA 3.10%, 7/15/20312,3,8 | 354,090 | ||||||
381,000 | Antero Midstream Partners LP / Antero Midstream Finance Corp. 6.62%, 2/1/20322,3 | 382,945 | ||||||
81,000 | BP Capital Markets PLC 4.38% (USD 5 Year Tsy+404 basis points)2,7,8,9 | 79,378 | ||||||
Cheniere Energy Partners LP | ||||||||
90,000 | 3.25%, 1/31/20322 | 76,688 | ||||||
53,000 | 5.95%, 6/30/20332 | 54,285 | ||||||
CITGO Petroleum Corp. | ||||||||
845,000 | 7.00%, 6/15/20252,3 | 844,237 | ||||||
17,000 | 8.37%, 1/15/20292,3 | 17,861 | ||||||
42,000 | Columbia Pipelines Holding Co. LLC 6.06%, 8/15/20262,3 | 42,469 | ||||||
92,000 | Columbia Pipelines Operating Co. LLC 6.54%, 11/15/20532,3 | 99,868 | ||||||
468,000 | CVR Energy, Inc. 5.75%, 2/15/20282,3 | 439,521 | ||||||
358,000 | DT Midstream, Inc. 4.30%, 4/15/20322,3 | 324,623 | ||||||
690,000 | EIG Pearl Holdings Sarl 4.39%, 11/30/20463,8 | 539,062 | ||||||
Enbridge, Inc. | ||||||||
374,000 | 5.70%, 3/8/20332,8 | 382,902 |
AAM/Insight Select Income Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
Principal Amount1 | Value | |||||||
CORPORATE BONDS (Continued) | ||||||||
ENERGY (Continued) | ||||||||
150,000 | 6.70%, 11/15/20532,8 | $ | 169,920 | |||||
180,000 | 6.00% (3-Month Term SOFR+415 basis points), 1/15/20772,8,10 | 175,934 | ||||||
337,000 | Endeavor Energy Resources LP / EER Finance, Inc. 5.75%, 1/30/20282,3 | 339,733 | ||||||
Energy Transfer LP | ||||||||
314,000 | 3.75%, 5/15/20302 | 289,624 | ||||||
21,000 | 7.37%, 2/1/20312,3 | 21,984 | ||||||
44,000 | 5.55%, 5/15/20342 | 44,134 | ||||||
275,000 | 5.40%, 10/1/20472 | 253,610 | ||||||
500,000 | 6.25%, 4/15/20492 | 513,851 | ||||||
108,000 | 5.95%, 5/15/20542 | 107,959 | ||||||
92,000 | 7.12% (USD 5 Year Tsy+530 basis points)2,7,9 | 89,866 | ||||||
Enterprise Products Operating LLC | ||||||||
475,000 | 6.45%, 9/1/2040 | 526,751 | ||||||
366,000 | 3.30%, 2/15/20532 | 260,105 | ||||||
126,000 | 5.38% (3-Month Term SOFR+283 basis points), 2/15/20782,10 | 117,435 | ||||||
129,000 | EQM Midstream Partners LP 6.38%, 4/1/20292,3 | 130,057 | ||||||
1,000,000 | Exxon Mobil Corp 1.41%, 6/26/2039 | 785,468 | ||||||
Global Partners LP / GLP Finance Corp. | ||||||||
68,000 | 6.87%, 1/15/2029 | 67,538 | ||||||
282,000 | 8.25%, 1/15/20322,3 | 292,349 | ||||||
130,000 | Hess Midstream Operations LP 5.13%, 6/15/20282,3 | 125,690 | ||||||
Howard Midstream Energy Partners LLC | ||||||||
157,000 | 6.75%, 1/15/20272,3 | 156,591 | ||||||
123,000 | 8.87%, 7/15/20282,3 | 129,762 | ||||||
Kinder Morgan, Inc. | ||||||||
410,000 | 8.05%, 10/15/2030 | 466,910 | ||||||
600,000 | 5.55%, 6/1/20452 | 573,334 | ||||||
MPLX LP | ||||||||
249,000 | 5.50%, 2/15/20492 | 237,443 | ||||||
983,000 | 4.90%, 4/15/20582 | 824,594 | ||||||
NGPL PipeCo LLC | ||||||||
820,000 | 4.88%, 8/15/20272,3 | 800,128 | ||||||
737,000 | 7.77%, 12/15/20373 | 821,993 | ||||||
680,000 | Occidental Petroleum Corp. 6.45%, 9/15/2036 | 725,287 | ||||||
ONEOK, Inc. | ||||||||
73,000 | 5.80%, 11/1/20302 | 75,246 | ||||||
107,000 | 6.10%, 11/15/20322 | 112,197 | ||||||
1,118,000 | 6.62%, 9/1/20532 | 1,233,573 | ||||||
400,000 | Petroleos del Peru SA 4.75%, 6/19/20323 | 314,858 | ||||||
Petroleos Mexicanos |
AAM/Insight Select Income Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
Principal Amount1 | Value | |||||||
CORPORATE BONDS (Continued) | ||||||||
ENERGY (Continued) | ||||||||
304,000 | 5.95%, 1/28/20312,8 | $ | 243,848 | |||||
224,000 | 6.70%, 2/16/20322,8 | 186,257 | ||||||
136,000 | 6.95%, 1/28/20602,8 | 89,806 | ||||||
250,000 | Plains All American Pipeline LP / PAA Finance Corp. 4.50%, 12/15/20262 | 245,548 | ||||||
809,000 | Targa Resources Partners LP / Targa Resources Partners Finance Corp. 5.50%, 3/1/20302 | 805,163 | ||||||
290,000 | Transcontinental Gas Pipe Line Co. LLC 3.95%, 5/15/20502 | 228,393 | ||||||
Williams Cos., Inc. | ||||||||
350,000 | 5.15%, 3/15/20342 | 346,841 | ||||||
800,000 | 4.90%, 1/15/20452 | 720,580 | ||||||
17,288,289 | ||||||||
FINANCIALS — 27.6% | ||||||||
669,000 | AerCap Ireland Capital DAC / AerCap Global Aviation Trust 3.30%, 1/30/20322,8 | 574,001 | ||||||
1,100,000 | Agree LP 2.00%, 6/15/20282 | 967,354 | ||||||
501,000 | AIB Group PLC 4.26% (3-Month USD Libor+187 basis points), 4/10/20252,3,8,10 | 500,724 | ||||||
Allianz S.E. | ||||||||
600,000 | 3.50% (USD 5 Year Tsy+297 basis points)2,3,7,8,9,11 | 556,633 | ||||||
200,000 | 3.20% (USD 5 Year Tsy+217 basis points)2,3,7,8,9,11 | 163,956 | ||||||
175,000 | Allstate Corp. 6.50% (3-Month USD Libor+212 basis points), 5/15/20672,10 | 177,800 | ||||||
309,000 | American Express Co. 6.34% (SOFR Rate+133 basis points), 10/30/20262,10 | 313,131 | ||||||
747,000 | American Homes 4 Rent LP 5.50%, 2/1/20342 | 744,493 | ||||||
400,000 | Banco Santander S.A. 5.59%, 8/8/20288 | 405,786 | ||||||
Bank of America Corp. | ||||||||
200,000 | 4.18%, 11/25/20272 | 194,211 | ||||||
1,895,000 | 2.97% (SOFR Rate+133 basis points), 2/4/20332,10 | 1,612,268 | ||||||
585,000 | 5.29% (SOFR Rate+191 basis points), 4/25/20342,10 | 583,279 | ||||||
965,000 | 5.87% (SOFR Rate+184 basis points), 9/15/20342,10 | 1,000,343 | ||||||
184,000 | 5.47% (SOFR Rate+165 basis points), 1/23/20352,10 | 185,460 | ||||||
200,000 | 5.87%, 2/7/2042 | 213,343 | ||||||
200,000 | Barclays PLC 6.04%, 3/12/2055 | 208,200 | ||||||
93,000 | Brixmor Operating Partnership LP 3.85%, 2/1/20252 | 91,401 | ||||||
600,000 | Capital One Financial Corp. 7.62% (SOFR Rate+307 basis points), 10/30/20312,10 | 662,977 | ||||||
Citigroup, Inc. |
AAM/Insight Select Income Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
Principal Amount1 | Value | |||||||
CORPORATE BONDS (Continued) | ||||||||
FINANCIALS (Continued) | ||||||||
297,000 | 3.98% (3-Month Term SOFR+160 basis points), 3/20/20302,10 | $ | 279,838 | |||||
804,000 | 5.30%, 5/6/2044 | 781,898 | ||||||
366,000 | 4.00% (USD 5 Year Tsy+360 basis points)2,7,9,11 | 350,924 | ||||||
500,000 | Citizens Bank N.A./Providence RI 6.06% (SOFR Rate+145 basis points), 10/24/20252,10 | 498,034 | ||||||
103,000 | Citizens Financial Group, Inc. 5.84% (SOFR Rate+201 basis points), 1/23/20302,10 | 102,803 | ||||||
342,000 | Corebridge Financial, Inc. 5.75%, 1/15/20342 | 349,638 | ||||||
451,000 | Credit Agricole S.A. 4.00% (USD 5 Year Swap+164 basis points), 1/10/20332,3,7,8 | 420,979 | ||||||
414,000 | Discover Financial Services 6.70%, 11/29/20322 | 438,016 | ||||||
EPR Properties | ||||||||
316,000 | 4.50%, 4/1/20252 | 311,257 | ||||||
545,000 | 3.60%, 11/15/20312 | 455,981 | ||||||
Extra Space Storage LP | ||||||||
75,000 | 5.70%, 4/1/20282 | 76,342 | ||||||
265,000 | 2.35%, 3/15/20322 | 212,197 | ||||||
1,050,000 | Farmers Insurance Exchange 4.75% (3-Month USD Libor+323 basis points), 11/1/20572,3,10 | 776,907 | ||||||
69,000 | Fiserv, Inc. 5.60%, 3/2/20332 | 70,402 | ||||||
450,000 | Global Payments, Inc. 5.40%, 8/15/20322 | 446,463 | ||||||
Goldman Sachs Group, Inc. | ||||||||
209,000 | 5.95%, 1/15/2027 | 213,407 | ||||||
790,000 | 7.33% (3-Month Term SOFR+201 basis points), 10/28/20272,4 | 813,725 | ||||||
1,640,000 | 1.99% (SOFR Rate+109 basis points), 1/27/20322,10 | 1,326,981 | ||||||
250,000 | 6.75%, 10/1/2037 | 273,222 | ||||||
232,000 | High Street Funding Trust II 4.68%, 2/15/20482,3 | 190,075 | ||||||
395,000 | HSBC Capital Funding Dollar 1 LP 10.18% (3-Month USD Libor+498 basis points)2,3,8,9,10,11 | 495,766 | ||||||
HSBC Holdings PLC | ||||||||
224,000 | 4.95%, 3/31/20308 | 222,539 | ||||||
844,000 | 4.60% (USD 5 Year Tsy+365 basis points)2,7,8,9,11 | 714,012 | ||||||
663,000 | ING Groep N.V. 3.87% (SOFR Rate+164 basis points), 3/28/20262,8,10 | 651,142 | ||||||
164,000 | Iron Mountain, Inc. 4.88%, 9/15/20292,3 | 154,040 | ||||||
JPMorgan Chase & Co. | ||||||||
287,000 | 5.30% (SOFR Rate+145 basis points), 7/24/20292,10 | 289,218 | ||||||
1,280,000 | 2.58% (3-Month Term SOFR+125 basis points), 4/22/20322,10 | 1,081,425 | ||||||
1,551,000 | 5.35% (SOFR Rate+185 basis points), 6/1/20342,10 | 1,557,810 | ||||||
209,000 | 5.34% (SOFR Rate+162 basis points), 1/23/20352,10 | 209,961 |
AAM/Insight Select Income Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
Principal Amount1 | Value | |||||||
CORPORATE BONDS (Continued) | ||||||||
FINANCIALS (Continued) | ||||||||
Kite Realty Group LP | ||||||||
107,000 | 4.00%, 10/1/20262 | $ | 101,855 | |||||
33,000 | 5.50%, 3/1/20342 | 32,806 | ||||||
250,000 | Kite Realty Group Trust 4.00%, 3/15/20252 | 245,387 | ||||||
930,000 | Liberty Mutual Group, Inc. 3.95%, 10/15/20502,3 | 700,427 | ||||||
341,000 | Lincoln National Corp. 5.85%, 3/15/2034 | 336,701 | ||||||
59,000 | Macquarie Airfinance Holdings Ltd. 6.50%, 3/26/20313 | 60,065 | ||||||
Massachusetts Mutual Life Insurance Co. | ||||||||
502,000 | 5.08% (3-Month USD Libor+319 basis points), 2/15/20692,3,10 | 447,703 | ||||||
236,000 | 4.90%, 4/1/20773 | 198,636 | ||||||
MetLife, Inc. | ||||||||
1,219,000 | 9.25%, 4/8/20382,3 | 1,428,753 | ||||||
333,000 | 10.75%, 8/1/20392 | 452,456 | ||||||
1,150,000 | 6.40%, 12/15/20662 | 1,177,860 | ||||||
Morgan Stanley | ||||||||
500,000 | 3.95%, 4/23/2027 | 482,752 | ||||||
575,000 | 4.89% (SOFR Rate+208 basis points), 7/20/20332,10 | 557,839 | ||||||
1,415,000 | 6.63% (SOFR Rate+205 basis points), 11/1/20342,10 | 1,547,752 | ||||||
Nasdaq, Inc. | ||||||||
88,000 | 5.35%, 6/28/20282 | 89,158 | ||||||
23,000 | 5.95%, 8/15/20532 | 24,272 | ||||||
PNC Financial Services Group, Inc. | ||||||||
166,000 | 6.61% (SOFR Index+173 basis points), 10/20/20272,10 | 170,934 | ||||||
379,000 | 5.00% (3-Month Term SOFR+356 basis points)2,9,10,11 | 364,163 | ||||||
227,000 | Prologis LP 5.25%, 3/15/20542 | 223,247 | ||||||
270,000 | Prologis Targeted US Logistics Fund LP 5.50%, 4/1/20343 | 271,557 | ||||||
447,000 | Prudential Financial, Inc. 5.70% (3-Month USD Libor+267 basis points), 9/15/20482,10 | 440,503 | ||||||
215,000 | Rexford Industrial Realty LP 2.15%, 9/1/20312 | 172,249 | ||||||
78,000 | Santander Holdings USA, Inc. 6.50% (SOFR Rate+236 basis points), 3/9/20292,10 | 79,870 | ||||||
462,000 | SBA Tower Trust 2.59%, 10/15/20312,3 | 372,761 | ||||||
1,179,000 | Scentre Group Trust 2 4.75% (USD 5 Year Tsy+438 basis points), 9/24/20802,3,7,8 | 1,131,788 | ||||||
159,000 | Simon Property Group LP 5.85%, 3/8/20532 | 163,994 | ||||||
278,000 | State Street Corp. 6.70% (USD 5 Year Tsy+261 basis points)2,7,9 | 282,026 |
AAM/Insight Select Income Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
Principal Amount1 | Value | |||||||
CORPORATE BONDS (Continued) | ||||||||
FINANCIALS (Continued) | ||||||||
370,000 | Synchrony Financial 2.88%, 10/28/20312 | $ | 295,417 | |||||
382,000 | Toronto-Dominion Bank 5.53%, 7/17/20268 | 385,423 | ||||||
Truist Financial Corp. | ||||||||
96,000 | 7.16% (SOFR Rate+245 basis points), 10/30/20292,10 | 102,456 | ||||||
66,000 | 5.87% (SOFR Rate+236 basis points), 6/8/20342,10 | 66,824 | ||||||
70,000 | 5.71% (SOFR Rate+192 basis points), 1/24/20352,10 | 70,352 | ||||||
1,232,000 | 4.80% (USD 5 Year Tsy+300 basis points)2,7,9,11 | 1,193,442 | ||||||
U.S. Bancorp | ||||||||
94,000 | 5.84% (SOFR Rate+226 basis points), 6/12/20342,10 | 95,888 | ||||||
265,000 | 5.68% (SOFR Rate+186 basis points), 1/23/20352,10 | 267,900 | ||||||
UBS Group A.G. | ||||||||
697,000 | 2.59% (SOFR Rate+156 basis points), 9/11/20252,3,8,10 | 687,117 | ||||||
250,000 | 3.09% (SOFR Rate+173 basis points), 5/14/20322,3,8,10 | 212,563 | ||||||
200,000 | 5.70% (USD 1 Year Tsy+177 basis points), 2/8/20352,3,7,8 | 201,235 | ||||||
24,000 | VICI Properties LP 6.12%, 4/1/2054 | 23,728 | ||||||
225,000 | VICI Properties LP / VICI Note Co., Inc. 3.50%, 2/15/20252,3 | 220,063 | ||||||
475,000 | Vornado Realty LP 2.15%, 6/1/20262 | 431,595 | ||||||
34,000 | WEA Finance LLC 4.63%, 9/20/20482,3 | 24,080 | ||||||
Wells Fargo & Co. | ||||||||
290,000 | 5.57% (SOFR Rate+174 basis points), 7/25/20292,10 | 293,518 | ||||||
366,000 | 5.20% (SOFR Rate+150 basis points), 1/23/20302,10 | 365,316 | ||||||
535,000 | 6.49% (SOFR Rate+206 basis points), 10/23/20342,10 | 574,165 | ||||||
250,000 | 5.87%2,9,10,11 | 249,165 | ||||||
719,000 | 3.90% (USD 5 Year Tsy+345 basis points)2,7,9,11 | 684,075 | ||||||
1,010,000 | Westpac Banking Corp. 2.67% (USD 5 Year Tsy+175 basis points), 11/15/20352,7,8 | 833,875 | ||||||
41,756,073 | ||||||||
GOVERNMENTS — 3.0% | ||||||||
301,000 | Chile Government International Bond 4.85%, 1/22/20292,8 | 299,029 | ||||||
250,000 | Colombia Government International Bond 8.75%, 11/14/20532,8 | 271,471 | ||||||
954,000 | Israel Government International Bond 5.75%, 3/12/2054 | 913,188 | ||||||
309,000 | Panama Government International Bond 7.50%, 3/1/20312,8 | 323,311 | ||||||
4,420,000 | Peru Government Bond 7.30%, 8/12/20333 | 1,192,898 |
AAM/Insight Select Income Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
Principal Amount1 | Value | |||||||
CORPORATE BONDS (Continued) | ||||||||
GOVERNMENTS (Continued) | ||||||||
574,000 | Republic of Poland Government International Bond 5.50%, 3/18/2054 | $ | 570,085 | |||||
1,000,000 | Saudi Government International Bond 5.25%, 1/16/20503,8 | 941,190 | ||||||
4,511,172 | ||||||||
HEALTH CARE — 3.3% | ||||||||
Amgen, Inc. | ||||||||
61,000 | 5.25%, 3/2/20302 | 61,952 | ||||||
146,000 | 5.65%, 3/2/20532 | 149,065 | ||||||
1,000,000 | Bayer U.S. Finance II LLC 4.62%, 6/25/20382,3 | 837,079 | ||||||
247,000 | Bayer U.S. Finance LLC 6.50%, 11/21/20332,3 | 251,584 | ||||||
864,000 | Bristol-Myers Squibb Co. 5.55%, 2/22/20542 | 892,549 | ||||||
CVS Health Corp. | ||||||||
271,000 | 4.30%, 3/25/20282 | 264,561 | ||||||
287,000 | 4.25%, 4/1/20502 | 232,959 | ||||||
89,000 | 5.87%, 6/1/20532 | 90,726 | ||||||
200,000 | Organon & Co. / Organon Foreign Debt Co-Issuer BV 4.13%, 4/30/20282,3 | 186,429 | ||||||
Royalty Pharma PLC | ||||||||
829,000 | 2.20%, 9/2/20302,8 | 689,272 | ||||||
320,000 | 2.15%, 9/2/20312,8 | 258,060 | ||||||
323,000 | STERIS Irish FinCo UnLtd Co. 2.70%, 3/15/20312,8 | 275,972 | ||||||
545,000 | Takeda Pharmaceutical Co., Ltd. 3.18%, 7/9/20502,8 | 380,776 | ||||||
397,000 | UnitedHealth Group, Inc. 3.05%, 5/15/20412 | 300,876 | ||||||
204,000 | Zimmer Biomet Holdings, Inc. 5.35%, 12/1/20282 | 207,087 | ||||||
5,078,947 | ||||||||
INDUSTRIALS — 3.2% | ||||||||
600,000 | Adani Ports & Special Economic Zone Ltd. 3.38%, 7/24/20243,8 | 593,016 | ||||||
119,000 | AGCO Corp. 5.80%, 3/21/2034 | 120,486 | ||||||
Ashtead Capital, Inc. | ||||||||
422,000 | 4.00%, 5/1/20282,3 | 396,617 | ||||||
201,000 | 5.95%, 10/15/20332,3 | 203,456 | ||||||
200,000 | BAE Systems PLC 5.50%, 3/26/20543 | 202,077 | ||||||
556,000 | Boeing Co. 5.80%, 5/1/20502 | 528,023 |
AAM/Insight Select Income Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
Principal Amount1 | Value | |||||||
CORPORATE BONDS (Continued) | ||||||||
INDUSTRIALS (Continued) | ||||||||
36,000 | Carrier Global Corp. 6.20%, 3/15/20542 | $ | 39,759 | |||||
83,000 | GFL Environmental, Inc. 6.75%, 1/15/20312,3,8 | 85,092 | ||||||
336,000 | Herc Holdings, Inc. 5.50%, 7/15/20272,3 | 329,982 | ||||||
52,000 | Masonite International Corp. 3.50%, 2/15/20302,3,8 | 45,963 | ||||||
136,000 | Norfolk Southern Corp. 5.55%, 3/15/20342 | 141,546 | ||||||
414,000 | Rolls-Royce PLC 5.75%, 10/15/20272,3,8 | 415,062 | ||||||
367,000 | Ryder System, Inc. 6.60%, 12/1/20332 | 397,887 | ||||||
200,000 | Smurfit Kappa Treasury ULC 5.44%, 4/3/20343 | 200,076 | ||||||
50,000 | Sydney Airport Finance Co. Pty Ltd. 3.37%, 4/30/20252,3,8 | 48,789 | ||||||
800,000 | TK Elevator U.S. Newco, Inc. 5.25%, 7/15/20272,3 | 773,082 | ||||||
52,000 | TransDigm, Inc. 6.75%, 8/15/20282,3 | 52,749 | ||||||
160,000 | Triton Container International Ltd. 3.15%, 6/15/20312,3,8 | 129,268 | ||||||
200,000 | Union Pacific Corp. 3.84%, 3/20/20602 | 153,571 | ||||||
4,856,501 | ||||||||
MATERIALS — 4.0% | ||||||||
200,000 | Alcoa Nederland Holding BV 7.12%, 3/15/20313 | 204,008 | ||||||
516,000 | AngloGold Ashanti Holdings PLC 3.75%, 10/1/20302,8 | 451,115 | ||||||
200,000 | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC 4.00%, 9/1/20292,3,8 | 161,339 | ||||||
Braskem Netherlands Finance B.V. | ||||||||
200,000 | 4.50%, 1/31/20302,3,8 | 172,458 | ||||||
349,000 | 5.88%, 1/31/20503,8 | 270,072 | ||||||
505,000 | Celanese US Holdings LLC 5.34%, 1/19/2029 | 576,329 | ||||||
221,000 | Cleveland-Cliffs, Inc. 7.00%, 3/15/20323 | 224,111 | ||||||
220,000 | Glencore Funding LLC 5.89%, 4/4/20543 | 223,224 | ||||||
272,000 | Newmont Corp. / Newcrest Finance Pty Ltd. 3.25%, 5/13/20302,3 | 245,883 |
AAM/Insight Select Income Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
Principal Amount1 | Value | |||||||
CORPORATE BONDS (Continued) | ||||||||
MATERIALS (Continued) | ||||||||
206,000 | Nutrien Ltd. 5.90%, 11/7/20248 | $ | 206,240 | |||||
358,000 | Orbia Advance Corp. S.A.B. de C.V. 2.88%, 5/11/20312,3,8 | 297,659 | ||||||
Sealed Air Corp. | ||||||||
523,000 | 1.57%, 10/15/20262,3 | 472,202 | ||||||
16,000 | 6.13%, 2/1/20282,3 | 16,043 | ||||||
761,000 | Sherwin-Williams Co. 2.90%, 3/15/20522 | 496,208 | ||||||
Smyrna Ready Mix Concrete LLC | ||||||||
448,000 | 6.00%, 11/1/20282,3 | 438,770 | ||||||
837,000 | 8.87%, 11/15/20312,3 | 894,662 | ||||||
313,000 | Suzano Austria GmbH 3.75%, 1/15/20312,8 | 276,668 | ||||||
381,000 | Vale Overseas, Ltd. 6.87%, 11/21/20368 | 407,227 | ||||||
6,034,218 | ||||||||
TECHNOLOGY — 4.4% | ||||||||
Broadcom, Inc. | ||||||||
1,125,000 | 3.47%, 4/15/20342,3 | 965,399 | ||||||
1,030,000 | 3.19%, 11/15/20362,3 | 820,746 | ||||||
169,000 | 3.75%, 2/15/20512,3 | 128,218 | ||||||
Dell International LLC / EMC Corp. | ||||||||
226,000 | 5.85%, 7/15/20252 | 227,168 | ||||||
98,000 | 8.35%, 7/15/20462 | 126,547 | ||||||
188,000 | 3.45%, 12/15/20512 | 131,863 | ||||||
313,000 | IBM International Capital Pte Ltd. 5.30%, 2/5/20542,8 | 306,072 | ||||||
Intel Corp. | ||||||||
53,000 | 5.20%, 2/10/20332 | 53,790 | ||||||
35,000 | 5.70%, 2/10/20532 | 36,205 | ||||||
550,000 | Kyndryl Holdings, Inc. 2.05%, 10/15/20262 | 504,206 | ||||||
Micron Technology, Inc. | ||||||||
109,000 | 5.30%, 1/15/20312 | 109,737 | ||||||
166,000 | 2.70%, 4/15/20322 | 138,700 | ||||||
151,000 | Microsoft Corp. 2.68%, 6/1/20602 | 97,460 | ||||||
526,000 | NXP B.V. / NXP Funding LLC / NXP USA, Inc. 4.30%, 6/18/20292,8 | 507,030 | ||||||
Oracle Corp. | ||||||||
1,105,000 | 2.30%, 3/25/20282 | 997,861 | ||||||
500,000 | 3.85%, 7/15/20362 | 426,745 | ||||||
458,000 | 3.60%, 4/1/20402 | 361,275 | ||||||
46,000 | 5.55%, 2/6/20532 | 45,071 |
AAM/Insight Select Income Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
Principal Amount1 | Value | |||||||
CORPORATE BONDS (Continued) | ||||||||
TECHNOLOGY (Continued) | ||||||||
768,000 | VMware, Inc. 2.20%, 8/15/20312 | $ | 625,499 | |||||
6,609,592 | ||||||||
UTILITIES — 6.9% | ||||||||
376,000 | AES Andes S.A. 6.35% (USD 5 Year Tsy+492 basis points), 10/7/20792,3,7,8 | 366,826 | ||||||
466,495 | AES Panama Generation Holdings SRL 4.38%, 5/31/20302,3,8 | 405,575 | ||||||
789,000 | Arizona Public Service Co. 4.25%, 3/1/20492 | 636,697 | ||||||
700,000 | Black Hills Corp. 6.15%, 5/15/20342 | 722,983 | ||||||
32,000 | CenterPoint Energy Houston Electric LLC 5.30%, 4/1/20532 | 31,987 | ||||||
229,000 | CMS Energy Corp. 3.75% (USD 5 Year Tsy+290 basis points), 12/1/20502,7 | 187,545 | ||||||
140,000 | Consolidated Edison Co. of New York, Inc. 5.90%, 11/15/20532 | 149,463 | ||||||
800,000 | Duke Energy Corp. 5.00%, 8/15/20522 | 725,256 | ||||||
634,000 | Edison International 5.38% (USD 5 Year Tsy+470 basis points)2,7,9,11 | 613,630 | ||||||
200,000 | Electricite de France S.A. 9.12% (USD 5 Year Tsy+541 basis points)2,3,7,8,9 | 220,255 | ||||||
400,000 | Enel Finance America LLC 7.10%, 10/14/20272,3 | 423,443 | ||||||
300,000 | Enel Finance International N.V. 7.50%, 10/14/20322,3,8 | 338,494 | ||||||
97,000 | Eversource Energy 5.50%, 1/1/20342 | 97,096 | ||||||
905,000 | Exelon Corp. 4.05%, 4/15/20302 | 854,250 | ||||||
200,000 | FirstEnergy Corp. 7.37%, 11/15/20312 | 235,346 | ||||||
354,000 | FirstEnergy Pennsylvania Electric Co 4.30%, 1/15/20292,3 | 341,713 | ||||||
22,000 | Indiana Michigan Power Co. 5.63%, 4/1/20532 | 22,248 | ||||||
307,000 | IPALCO Enterprises, Inc. 4.25%, 5/1/20302 | 285,782 | ||||||
314,000 | Jersey Central Power & Light Co. 2.75%, 3/1/20322,3 | 261,171 | ||||||
411,000 | New England Power Co. 5.94%, 11/25/20522,3 | 424,057 | ||||||
71,000 | Niagara Mohawk Power Corp. 5.66%, 1/17/20542,3 | 70,762 |
AAM/Insight Select Income Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
Principal Amount1 | Value | |||||||
CORPORATE BONDS (Continued) | ||||||||
UTILITIES (Continued) | ||||||||
NiSource, Inc. | ||||||||
29,000 | 5.25%, 3/30/20282 | $ | 29,212 | |||||
218,000 | 3.60%, 5/1/20302 | 200,917 | ||||||
112,000 | 5.40%, 6/30/20332 | 113,019 | ||||||
Pacific Gas and Electric Co. | ||||||||
305,000 | 2.10%, 8/1/20272 | 274,602 | ||||||
481,000 | 3.50%, 8/1/20502 | 329,666 | ||||||
535,000 | Piedmont Natural Gas Co., Inc. 3.50%, 6/1/20292 | 498,120 | ||||||
111,000 | Public Service Enterprise Group, Inc. 6.12%, 10/15/20332 | 116,718 | ||||||
239,000 | Puget Energy, Inc. 2.38%, 6/15/20282 | 213,260 | ||||||
Southern Co. Gas Capital Corp. | ||||||||
426,000 | 5.88%, 3/15/20412 | 430,873 | ||||||
121,000 | 3.95%, 10/1/20462 | 93,913 | ||||||
822,000 | 4.40%, 5/30/20472 | 682,438 | ||||||
10,397,317 | ||||||||
TOTAL CORPORATE BONDS | ||||||||
(Cost $132,572,799) | 124,566,662 | |||||||
MUNICIPAL BONDS — 0.2% | ||||||||
294,000 | University of Michigan 3.60%, 4/1/2047 | 250,828 | ||||||
TOTAL MUNICIPAL BONDS | ||||||||
(Cost $294,000) | 250,828 | |||||||
U.S. GOVERNMENT AND AGENCIES — 5.0% | ||||||||
United States Treasury Bond | ||||||||
1,312,400 | 4.37%, 8/15/2043 | 1,298,660 | ||||||
110,000 | 4.75%, 11/15/2043 | 114,280 | ||||||
400,000 | 4.50%, 2/15/2044 | 402,750 | ||||||
400 | 1.25%, 5/15/2050 | 205 | ||||||
69,200 | 1.38%, 8/15/2050 | 36,625 | ||||||
600,100 | 3.63%, 2/15/2053 | 527,947 | ||||||
92,000 | 4.13%, 8/15/2053 | 88,579 | ||||||
United States Treasury Note | ||||||||
1,538,000 | 2.00%, 2/15/2025 | 1,497,117 | ||||||
1,150,000 | 4.37%, 8/31/2028 | 1,155,345 | ||||||
1,890,000 | 4.37%, 11/30/2028 | 1,901,000 | ||||||
140,000 | 4.00%, 1/31/2029 | 138,633 | ||||||
75,000 | 4.25%, 2/28/2029 | 75,141 | ||||||
415,000 | 3.75%, 12/31/2030 | 403,798 | ||||||
TOTAL U.S. GOVERNMENT AND AGENCIES | ||||||||
(Cost $7,610,298) | 7,640,080 |
AAM/Insight Select Income Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
Number of Shares | Value | |||||||
SHORT-TERM INVESTMENTS — 0.4% | ||||||||
578,183 | Goldman Sachs Financial Square Government Fund - Institutional Class 5.13%12 | $ | 578,183 | |||||
TOTAL SHORT-TERM INVESTMENTS | ||||||||
(Cost $578,183) | 578,183 | |||||||
TOTAL INVESTMENTS — 99.6% | ||||||||
(Cost $159,528,631) | 150,634,944 | |||||||
Other Assets in Excess of Liabilities — 0.4% | 647,118 | |||||||
TOTAL NET ASSETS — 100.0% | $ | 151,282,062 |
LLC – Limited Liability Company
LP – Limited Partnership
PLC – Public Limited Company
ULC – Unlimited Liability Corporation
1 | Local currency. |
2 | Callable. |
3 | Security 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 $58,742,299, which represents 38.8% of total net assets of the Fund. |
4 | Floating rate security. |
5 | Variable rate security. Rate shown is the rate in effect as of March 31, 2024. |
6 | Step rate security. |
7 | Fixed to variable security. Fixed rate indicated is the rate effective at March 31, 2024. Security may convert at a future date to a variable rate of referenced rate and spread. |
8 | Foreign security denominated in U.S. Dollars. |
9 | Perpetual security. Date shown is next call date. |
10 | Fixed to float security. Fixed rate indicated is the rate effective at March 31, 2024. Security may convert at a future date to a floating rate or referenced rate and spread. |
11 | Interest-only security. |
12 | The rate is the annualized seven-day yield at period end. |
AAM/Insight Select Income Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
FUTURES CONTRACTS
Number of Contracts Long (Short) | Description | Expiration Date | Notional Value* | Value/Unrealized Appreciation (Depreciation) | ||||||||
Interest Rate Futures | ||||||||||||
29 | 2-Year U.S. Treasury Note | March 2024 | 5,941,877 | $ | (11,830 | ) | ||||||
133 | 5-Year U.S. Treasury Note | March 2024 | 14,195,984 | 37,094 | ||||||||
(25) | 10-Year U.S. Treasury Note | March 2024 | (2,750,000 | ) | (19,922 | ) | ||||||
(5) | Euro BOBL | March 2025 | (638,051 | ) | (590 | ) | ||||||
(19) | Euro Bund | March 2026 | (2,712,762 | ) | (28,566 | ) | ||||||
85 | U.S. Treasury Long Bond | March 2024 | 10,033,318 | 203,870 | ||||||||
(54) | Ultra 10-Year U.S. Treasury Note | March 2024 | (6,130,605 | ) | (58,301 | ) | ||||||
13 | Ultra Long-Term U.S. Treasury Bond | March 2024 | 1,627,502 | 49,498 | ||||||||
TOTAL FUTURES CONTRACTS | 19,567,263 | $ | 171,253 |
* | Local Currency |
AAM/Insight Select Income Fund
SCHEDULE OF INVESTMENTS - Continued
As of March 31, 2024 (Unaudited)
FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS
Purchase Contracts | Counterparty | Currency Exchange | Settlement Date | Currency Amount Purchased | Value At Settlement Date | Value At March 31, 2024 | Unrealized Appreciation (Depreciation) | |||||||||||||||
Euro | JP Morgan | EUR per USD | 4/9/2024 | 130,000 | $ | 142,267 | $ | 140,319 | $ | (1,948 | ) | |||||||||||
British Pound | JP Morgan | GBP per USD | 4/9/2024 | 100,000 | 126,462 | 126,223 | (239 | ) | ||||||||||||||
268,729 | 266,542 | (2,187 | ) |
Sale Contracts | Counterparty | Currency Exchange | Settlement Date | Currency Amount Sold | Value At Settlement Date | Value At March 31, 2024 | Unrealized Appreciation (Depreciation) | |||||||||||||||
Euro | Citibank | EUR per USD | 4/9/2024 | 131,000 | $ | (142,318 | ) | $ | (141,398 | ) | $ | 920 | ||||||||||
Euro | JP Morgan | EUR per USD | 4/9/2024 | 2,730,000 | (2,971,795 | ) | (2,946,700 | ) | 25,095 | |||||||||||||
British Pound | Citibank | GBP per USD | 4/9/2024 | 103,000 | (130,776 | ) | (130,010 | ) | 766 | |||||||||||||
Peruvian Sol | Citibank | PEN per USD | 5/14/2024 | 4,510,000 | (1,212,692 | ) | (1,211,303 | ) | 1,389 | |||||||||||||
(4,457,581 | ) | (4,429,411 | ) | 28,170 | ||||||||||||||||||
TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS | $ | (4,188,852 | ) | $ | (4,162,869 | ) | $ | 25,983 |
EUR – Euro
GBP – British Pound
PEN– Peruvian Sol