RiverNorth/DoubleLine Strategic Income Fd Cl R (RNDLX) NPORT-P RiverNorth Core Opportunity Fund (Dec 2023 report)

RiverNorth Core Opportunity Fund

SCHEDULE OF INVESTMENTS 

December 31, 2023 (Unaudited)

Shares/Description			Value
CLOSED-END FUNDS - 79.18%
	179,087	AllianzGI Convertible & Income 2024 Target Term Fund	$	1,561,639
	289,260	BlackRock Capital Allocation Term Trust		4,324,437
	282,861	BlackRock ESG Capital Allocation Term Trust		4,562,548
	29,722	BlackRock Health Sciences Term Trust		435,427
	38,289	BlackRock MuniHoldings New York Quality Fund, Inc.		402,417
	46,272	BlackRock MuniYield New York Quality Fund, Inc.		477,990
	66,656	BlackRock Science and Technology Term Trust		1,113,822
	73,949	Blackstone/GSO Senior Floating Rate Term Fund		987,219
	10,601	BrandywineGLOBAL - Global Income Opportunities Fund, Inc.		88,571
	64,751	Calamos Long/Short Equity & Dynamic Income Trust		935,652
	186,260	Clough Global Equity Fund		1,103,590
	142,496	Clough Global Opportunities Fund		669,731
	127,622	First Trust High Yield Opportunities 2027 Term Fund		1,777,774
	242,804	First Trust New Opportunities MLP & Energy Fund		1,670,492
	50,520	Flaherty & Crumrine Preferred and Income Opportunity Fund, Inc.		402,139
	40,806	Nuveen AMT-Free Municipal Credit Income Fund		482,327
	86,410	Nuveen AMT-Free Quality Municipal Income Fund		950,510
	184,424	Nuveen Municipal Value Fund, Inc.		1,586,046
	25,938	Nuveen Preferred & Income Term Fund		474,147
	111,075	Nuveen Variable Rate Preferred & Income Fund		1,804,969
	97,571	Pershing Square Holdings Ltd.		4,527,294
	65,559	PIMCO Access Income Fund		937,494
	35,206	PIMCO Dynamic Income Fund		631,948
	72,394	PIMCO Dynamic Income Opportunities Fund		886,103
	85,475	Special Opportunities Fund, Inc.		1,013,733
	127,767	Western Asset High Income Opportunity Fund, Inc.		493,181
	191,185	Western Asset Inflation-Linked Opportunities & Income Fund		1,657,574
TOTAL CLOSED-END FUNDS
(Cost $35,086,989)				35,958,774
COMMON STOCKS - 2.87%
	343,560	Templeton Global Income Fund(a)		1,302,092
TOTAL COMMON STOCKS
(Cost $1,322,751)				1,302,092
EXCHANGE TRADED FUNDS - 7.55%
	40,562	Blackrock Flexible Income ETF		2,120,176
	68,427	Invesco FTSE RAFI Emerging Markets Portfolio		1,306,956
TOTAL EXCHANGE TRADED FUNDS
(Cost $3,313,333)				3,427,132
PREFERRED STOCKS - 0.81%
	15,162	XAI Octagon Floating Rate Alternative Income Term Trust, Series 2026, 6.500%, 03/31/2026		369,648
TOTAL PREFERRED STOCKS
(Cost $378,878)				369,648

Principal Amount/Description			Rate			Maturity	Value
U.S. CORPORATE BONDS - 3.43%
Investment Companies - 2.95%
$	164,009	Blackstone Private Credit Fund		3.25	%	03/15/2027	$	150,570
	495,561	Blue Owl Capital Corp.		3.40	%	07/15/2026		461,021
	249,936	Blue Owl Credit Income Corp.		4.70	%	02/08/2027		236,327
	500,000	Blue Owl Technology Finance Corp.(b)		6.75	%	06/30/2025		492,759
								1,340,677
Private Equity - 0.48%
	237,712	Hercules Capital, Inc.		2.63	%	09/16/2026		214,695
TOTAL U.S. CORPORATE BONDS
(Cost $1,508,588)								1,555,372
U.S. GOVERNMENT BONDS AND NOTES - 2.19%
1,000,000		U.S. Treasury Notes		4.25	%	12/31/2024		994,711
TOTAL U.S. GOVERNMENT BONDS AND NOTES
(Cost $997,913)								994,711

Shares/Description			Value
Warrants - 0.00%(c)
	12,899	AGBA Group Holding, Ltd., Strike Price 11.50, Expires 05/10/2024		79
	8,168	Churchill Capital Corp. VII, Strike Price 11.50, Expires 02/29/2028		1,307
	10,113	Jaws Mustang Acquisition Corp., Strike Price 11.50, Expires 01/30/2026		401
	5,303	Landcadia Holdings IV, Inc., Strike Price 11.50, Expires 12/31/2028		344
TOTAL WARRANTS
(Cost $32,057)				2,131
Short-Term Investments - 4.41%
Money Market Fund - 4.41%
	2,004,302	State Street Institutional Trust (7 Day Yield 5.29%)		2,004,302
TOTAL SHORT-TERM INVESTMENTS
(Cost $2,004,302)				2,004,302
TOTAL INVESTMENTS - 100.44%
(Cost $44,644,811)			$	45,614,162
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.44)%				(198,147	)
NET ASSETS - 100.00%			$	45,416,015

(a)	Non-income producing security.
(b)	Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities have been deemed liquid under procedures approved by the Fund's Board of Trustees and may normally be sold to qualified institutional buyers in transactions exempt from registration. Total fair value of Rule 144A securities amounts to $492,759, which represents approximately 1.08% of net assets as of December 31, 2023.
(c)	Less than 0.005%.

See Notes to Quarterly Schedule of Investments.

 RiverNorth/DoubleLine Strategic Income Fund

SCHEDULE OF INVESTMENTS

December 31, 2023 (Unaudited)

Shares/Description			Value
CLOSED-END FUNDS - 19.79%
	383,908	Barings Global Short Duration High Yield Fund	$	5,159,724
	337,313	BlackRock Credit Allocation Income Trust		3,481,070
	161,620	BlackRock MuniHoldings New York Quality Fund, Inc.		1,698,626
	195,559	BlackRock MuniYield New York Quality Fund, Inc.		2,020,124
	293,653	Blackstone Long-Short Credit Income Fund		3,362,327
	914,876	Blackstone Strategic Credit 2027 Term Fund		10,356,396
	159,006	Blackstone/GSO Senior Floating Rate Term Fund		2,122,730
	581,087	BNY Mellon Strategic Municipals, Inc.		3,405,170
	544,345	BrandywineGLOBAL - Global Income Opportunities Fund, Inc.		4,548,002
	47,056	Eaton Vance, Ltd. Duration Income Fund		450,796
	695,542	First Trust High Yield Opportunities 2027 Term Fund		9,688,900
	188,224	Invesco Dynamic Credit Opportunity Fund		2,104,345
	1,173,103	Nuveen AMT-Free Municipal Credit Income Fund		13,866,077
	1,645,260	Nuveen AMT-Free Quality Municipal Income Fund		18,097,860
	725,930	Nuveen California Quality Municipal Income Fund		8,050,564
	410,698	Nuveen Core Plus Impact Fund		4,139,836
	189,030	Nuveen Floating Rate Income Fund		1,553,827
	121,735	Nuveen Municipal Credit Income Fund		1,438,908
	713,073	Nuveen Municipal Value Fund, Inc.		6,132,428
	4,201,511	Nuveen Preferred Income Opportunities Fund		28,402,215
	897,485	Nuveen Quality Municipal Income Fund		10,276,203
	130,162	Nuveen Variable Rate Preferred & Income Fund		2,115,133
	532,141	PGIM Global High Yield Fund, Inc.		6,045,122
	126,099	PGIM High Yield Bond Fund, Inc.		1,553,540
	401,482	PGIM Short Duration High Yield Opportunities Fund		6,022,230
	233,127	PIMCO Access Income Fund		3,333,716
	704,951	PIMCO Dynamic Income Fund		12,653,870
	236,447	PIMCO Dynamic Income Opportunities Fund		2,894,111
	2,132,640	PIMCO High Income Fund		10,641,874
	1,471,032	PIMCO Income Strategy Fund II		10,635,561
	1,611,246	Western Asset Emerging Markets Debt Fund, Inc.		14,839,576
	3,200,944	Western Asset High Income Opportunity Fund, Inc.		12,355,644
	1,603,679	Western Asset Inflation-Linked Opportunities & Income Fund		13,903,897
TOTAL CLOSED-END FUNDS
(Cost $254,258,311)				237,350,402
BUSINESS DEVELOPMENT COMPANIES - PREFERRED SHARES - 0.39%
	46,046	Oxford Square Capital Corp., 6.250%, 04/30/2026		1,101,881
	3,770,000	PennantPark Floating Rate Capital, Ltd., 4.250%, 04/01/2026(a)		3,560,309
TOTAL BUSINESS DEVELOPMENT COMPANIES - PREFERRED SHARES
(Cost $4,877,717)				4,662,190
COMMON STOCKS - 0.10%
	18,133	Envision Healthcare Corp.(a)		154,131
	10,651	Intelsat SA/Luxembourg(a)		306,216
	259,482	Pershing Square Tontine Holdings(a)(b)(c)		0
	11,202	Riverbed Tech Class B-1 Partnership Units(a)		1,456

Shares/Description			Value
	189,789	Saba Software, Inc.(a)	$	719,301
TOTAL COMMON STOCKS
(Cost $1,266,915)				1,181,104
OPEN-END FUNDS - 2.88%
	3,932,087	RiverNorth/Oaktree High Income Fund, Class I(d)		34,515,469
TOTAL OPEN-END FUNDS
(Cost $37,652,118)				34,515,469
PREFERRED STOCKS - 1.09%
	246,313	Crescent Capital BDC, Inc., 5.000%, 05/25/2026		5,763,724
	341,265	Virtus AllianzGI Diversified Income & Convertible Fund, 5.625%, 03/08/2024(e)		7,337,232
TOTAL PREFERRED STOCKS
(Cost $14,555,923)				13,100,956
SPECIAL PURPOSE ACQUISITION COMPANIES - 0.00%
	5,476	Bright Bidco Equity (Dr)(a)		3,559
TOTAL SPECIAL PURPOSE ACQUISITION COMPANIES
(Cost $269,488)				3,559

Principal Amount/Description			Rate			Maturity		Value
FOREIGN CORPORATE BONDS - 4.29%
Argentina - 0.05%
	850,000	YPF SA		7.00	%		12/15/2047		643,005
Australia - 0.38%
	1,000,000	APA Infrastructure, Ltd.(f)		4.25	%		07/15/2027		970,941
	395,000	Australia & New Zealand Banking Group, Ltd.(f)(g)		5Y US TI + 1.70%			11/25/2035		319,007
	505,000	BHP Billiton Finance USA, Ltd.		5.25	%		09/08/2030		523,478
	265,000	Commonwealth Bank of Australia(f)		4.32	%		01/10/2048		211,438
	700,000	Macquarie Group, Ltd.(f)(g)		1D US SOFR + 1.53%			01/14/2033		576,186
	475,000	National Australia Bank, Ltd.(f)		2.99	%		05/21/2031		397,798
	340,000	NBN Co., Ltd.(f)		1.45	%		05/05/2026		313,790
	500,000	Sydney Airport Finance Co. Pty, Ltd.(f)		3.38	%		04/30/2025		487,864
	500,000	Sydney Airport Finance Co. Pty, Ltd.(f)		3.63	%		04/28/2026		484,413
	310,000	Westpac Banking Corp.(g)		5Y US TI + 1.53%			11/18/2036		252,330
									4,537,245
Brazil - 0.16%
	200,000	Banco do Brasil SA(e)(g)		6.25	%		Perpetual Maturity		195,646
	1,100,000	BRF SA		5.75	%		09/21/2050		822,962
	200,000	CSN Resources SA(h)		5.88	%		04/08/2032		174,133
	171,358	Guara Norte Sarl		5.20	%		06/15/2034		156,296
	200,000	Nexa Resources SA(h)		5.38	%		05/04/2027		195,376
	65,135	Oi SA(f)(i)		14.00%    (6.00%)			09/07/2024		65,135
	23,560	Oi SA(f)(i)		14.00%    (0.00%)			09/07/2024		23,560

Principal Amount/Description			Rate			Maturity		Value
$	950,000	Oi SA(j)		10.00%    (4.00%)			07/27/2025	$	47,500
	700,000	Unigel Luxembourg SA(h)(j)		8.75	%		10/01/2026		192,507
									1,873,115
British Virgin Islands - 0.03%
	350,000	TSMC Global, Ltd.(f)		1.25	%		04/23/2026		323,295
Canada - 0.53%
	13,000	1375209 BC, Ltd.(f)		9.00	%		01/30/2028		12,686
	400,000	Aris Mining Corp.(h)		6.88	%		08/09/2026		347,794
	400,000	Aris Mining Corp.(h)		6.88	%		08/09/2026		347,794
	420,000	Bank of Montreal(g)		3.80	%		12/15/2032		386,787
	520,000	Bank of Nova Scotia(g)		5Y US TI + 2.05%			05/04/2037		465,581
	170,000	Bausch & Lomb Escrow Corp.(f)		8.38	%		10/01/2028		179,552
	80,000	Bausch Health Cos., Inc.(f)		6.13	%		02/01/2027		54,085
	24,000	Bausch Health Cos., Inc.		11.00	%		09/30/2028		17,508
	4,000	Bausch Health Cos., Inc.(f)		14.00	%		10/15/2030		2,245
	95,000	Bombardier, Inc.(f)		8.75	%		11/15/2030		101,265
	800,000	Canacol Energy, Ltd.(h)		5.75	%		11/24/2028		584,189
	210,000	CCL Industries, Inc.(f)		3.05	%		06/01/2030		184,108
	245,000	CI Financial Corp.		4.10	%		06/15/2051		144,080
	255,000	Element Fleet Management Corp.(f)		6.32	%		12/04/2028		263,677
	150,000	Garda World Security Corp.(f)		6.00	%		06/01/2029		134,618
	55,000	GFL Environmental, Inc.(f)		6.75	%		01/15/2031		56,734
	1,020,000	Gran Tierra Energy, Inc.(f)		9.50	%		10/15/2029		896,514
	500,000	IAMGOLD Corp.		5.75	%		10/15/2028		430,681
	245,000	Kronos Acquisition Holdings, Inc. / KIK Custom Products, Inc.(f)		7.00	%		12/31/2027		234,242
	140,000	Mattamy Group Corp.(f)		4.63	%		03/01/2030		129,895
	155,000	Parkland Corp.(f)		4.50	%		10/01/2029		142,257
	100,000	Superior Plus LP / Superior General Partner, Inc.(f)		4.50	%		03/15/2029		92,818
	500,000	Toronto-Dominion Bank		4.69	%		09/15/2027		500,268
	750,000	TransCanada PipeLines, Ltd.		4.63	%		03/01/2034		710,811
									6,420,189
Cayman Islands - 0.20%
	900,000	Alpha Holding Escrow Shares(b)(c)					Perpetual Maturity		0
	900,000	Alpha Holding Escrow Shares(b)(c)					Perpetual Maturity		0
	200,000	Banco Mercantil del Norte SA/Grand Cayman(e)(f)(g)		10Y US TI + 5.03%			Perpetual Maturity		170,400
	200,000	Banco Mercantil del Norte SA/Grand Cayman(e)(f)(g)		7.50	%		12/31/9999		188,953
	500,000	Banco Mercantil del Norte SA/Grand Cayman(e)(g)(h)		10Y US TI + 5.03%			Perpetual Maturity		426,000
	200,000	Banco Mercantil del Norte SA/Grand Cayman(e)(g)(h)		7.63	%		12/31/9999		192,426
	130,161	Bioceanico Sovereign Certificate, Ltd.(h)(k)		0.00	%		06/05/2034		93,261
	200,000	Cosan Overseas, Ltd.(e)		8.25	%		Perpetual Maturity		199,453
	172,473	Global Aircraft Leasing Co., Ltd.(f)(i)		6.50%    (7.25%)			09/15/2024		162,326
	162,610	Interoceanica IV Finance, Ltd.(k)		0.00	%		11/30/2025		152,040
	200,000	Itau Unibanco Holding SA Island(e)(g)(h)		5Y US TI + 4.63%			Perpetual Maturity		176,085
	200,000	Itau Unibanco Holding SA Island(e)(g)(h)		5Y US TI + 3.22%			12/31/9999		176,085
	133,272	Lima Metro Line 2 Finance, Ltd.(f)		5.88	%		07/05/2034		131,999
	88,848	Lima Metro Line 2 Finance, Ltd.(h)		5.88	%		07/05/2034		88,000

Principal Amount/Description			Rate			Maturity		Value
$	173,333	Rutas 2 & 7 Finance, Ltd.(h)(k)		0.00	%		09/30/2036	$	115,392
	127,500	Transocean Poseidon, Ltd.(f)		6.88	%		02/01/2027		127,147
									2,399,567
Chile - 0.25%
	300,000	Agrosuper SA(h)		4.60	%		01/20/2032		258,302
	700,000	CAP SA(h)		3.90	%		04/27/2031		545,300
	200,000	Chile Electricity PEC SpA(k)		0.00	%		01/25/2028		159,894
	900,000	Empresa de Transporte de Pasajeros Metro SA(f)		5.00	%		01/25/2047		781,887
	317,700	GNL Quintero SA(h)		4.63	%		07/31/2029		312,710
	750,000	Transelec SA(h)		3.88	%		01/12/2029		701,870
	850,000	VTR Finance NV(h)		6.38	%		07/15/2028		222,539
									2,982,502
China - 0.01%
	200,000	Alibaba Group Holding, Ltd.		3.25	%		02/09/2061		125,937
	400,000	Ronshine China Holdings, Ltd.(j)		7.35	%		12/15/2023		9,300
	600,000	Ronshine China Holdings, Ltd.(j)		6.75	%		08/05/2024		14,100
									149,337
Colombia - 0.37%
	450,000	Banco Davivienda SA(e)(f)(g)		10Y US TI + 5.10%			Perpetual Maturity		322,312
	750,000	Banco Davivienda SA(e)(g)(h)		10Y US TI + 5.10%			12/31/9999		537,188
	650,000	Banco GNB Sudameris SA(f)(g)		5Y US TI + 6.66%			04/16/2031		545,577
	100,000	Banco GNB Sudameris SA(g)(h)		5Y US TI + 4.56%			04/03/2027		97,316
	200,000	Banco GNB Sudameris SA(g)(h)		5Y US TI + 6.66%			04/16/2031		167,870
	200,000	Bancolombia SA(g)		4.63	%		12/18/2029		185,547
	850,000	Ecopetrol SA		5.88	%		05/28/2045		672,363
	1,020,000	Ecopetrol SA		5.88	%		11/02/2051		772,890
	200,000	Empresas Publicas de Medellin ESP(h)		4.25	%		07/18/2029		170,676
	950,000	Empresas Publicas de Medellin ESP(h)		4.38	%		02/15/2031		778,078
	182,000	Fideicomiso PA Pacifico Tres(h)		8.25	%		01/15/2035		173,696
									4,423,513
France - 0.06%
	510,000	BNP Paribas SA(f)(g)		1D SOFR + 1.51%			01/13/2031		448,562
	340,000	BPCE SA(f)		1.00	%		01/20/2026		313,090
									761,652
Great Britain - 0.23%
	655,000	HSBC Holdings PLC(g)		3M SOFR + 1.64%			09/12/2026		661,305
	530,000	Lloyds Banking Group PLC(g)		3M US L + 1.21%			11/07/2028		498,524
	400,000	MARB BondCo PLC(h)		3.95	%		01/29/2031		325,170
	335,000	NatWest Markets PLC(f)		0.80	%		08/12/2024		325,275
	444,000	Tullow Oil PLC(f)		10.25	%		05/15/2026		396,625
	200,000	Vedanta Resources Finance II PLC(f)		9.25	%		04/23/2026		122,853
	200,000	Vedanta Resources Finance II PLC(h)		9.25	%		04/23/2026		122,854
	280,000	Weir Group PLC(f)		2.20	%		05/13/2026		260,456
									2,713,062
Guatemala - 0.04%
	150,000	Banco Industrial SA/Guatemala(g)(h)		5Y US TI + 4.44%			01/29/2031		141,308
	400,000	CT Trust(h)		5.13	%		02/03/2032		350,023
									491,331
Hong Kong - 0.00%(l)
	200,000	RKP Overseas Finance, Ltd.(e)		7.95	%		Perpetual Maturity		39,130

Principal Amount/Description			Rate			Maturity		Value
India - 0.29%
$	400,000	Adani Electricity Mumbai, Ltd.(h)		3.87	%		07/22/2031	$	311,104
	532,500	Adani International Container Terminal Pvt, Ltd.(h)		3.00	%		02/16/2031		437,108
	200,000	Adani Ports & Special Economic Zone, Ltd.(h)		4.38	%		07/03/2029		175,498
	500,000	Adani Ports & Special Economic Zone, Ltd.		3.10	%		02/02/2031		381,990
	1,000,000	Adani Ports & Special Economic Zone, Ltd.(h)		5.00	%		08/02/2041		739,655
	785,000	Adani Transmission Step-One, Ltd.(h)		4.25	%		05/21/2036		633,550
	1,150,000	Vedanta Resources, Ltd.		6.13	%		08/09/2024		765,790
									3,444,695
Indonesia - 0.06%
	200,000	Indonesia Asahan Aluminium PT / Mineral Industri Indonesia Persero PT(h)		5.45	%		05/15/2030		201,998
	595,000	Kawasan Industri Jababeka Tbk PT(f)(m)		7.50	%		12/15/2027		493,850
									695,848
Ireland - 0.03%
	410,000	Avolon Holdings Funding, Ltd.		3.25	%		02/15/2027		379,515
Israel - 0.07%
	900,000	Israel Electric Corp., Ltd.(f)		5.00	%		11/12/2024		888,987
Jamaica - 0.00%(l)
	12,164	Digicel Group Holdings, Ltd.(f)(k)		0.00	%		12/31/2030		11,147
	38,775	Digicel Group Holdings, Ltd.(f)(k)		0.00	%		12/31/2030		3,241
	2,155	Digicel Group Holdings, Ltd.(f)(k)		0.00	%		12/31/2030		1,914
	97,752	Digicel Group Holdings, Ltd.(b)(c)(f)(k)		0.00	%		12/31/2030		–
									16,302
Japan - 0.04%
	510,000	Renesas Electronics Corp.(f)		2.17	%		11/25/2026		465,735
Luxembourg - 0.24%
	470,000	Endo Luxembourg Finance Co. I SARL / Endo US, Inc.(f)(j)		6.13	%		04/01/2029		301,232
	1,100,000	Intelsat Escrow Shares(b)(c)		0.00	%		Perpetual Maturity		0
	1,159,502	MC Brazil Downstream Trading SARL(h)		7.25	%		06/30/2031		910,140
	180,000	Millicom International Cellular SA(h)		6.63	%		10/15/2026		176,590
	270,000	Millicom International Cellular SA(h)		6.25	%		03/25/2029		256,167
	200,000	Millicom International Cellular SA		4.50	%		04/27/2031		166,500
	1,300,000	Simpar Europe SA(h)		5.20	%		01/26/2031		1,127,523
									2,938,152
Mauritius - 0.05%
	800,000	UPL Corp., Ltd.(e)(g)		5Y US TI + 3.87%			12/31/9999		608,000
Mexico - 0.23%
	659,912	Alpha Holding SA de CV(f)(j)		9.00	%		02/10/2025		9,899
	188,546	Alpha Holding SA de CV		9.00	%		02/10/2025		2,828
	250,000	BBVA Bancomer SA(g)(h)		5.13	%		01/18/2033		226,711
	800,000	Braskem Idesa SAPI(f)		6.99	%		02/20/2032		469,069
	200,000	Cemex SAB de CV(e)(g)(h)		5Y US TI + 4.53%			12/31/9999		189,836

Principal Amount/Description			Rate			Maturity		Value
$	500,000	Credito Real SAB de CV SOFOM ER(h)(j)		9.50	%		02/07/2026	$	56,250
	200,000	Industrias Penoles SAB de CV		4.15	%		09/12/2029		186,907
	600,000	Mexarrend SAPI de CV(f)		10.25	%		07/24/2024		133,650
	200,000	Mexarrend SAPI de CV(h)		10.25	%		07/24/2024		44,550
	200,000	Mexico City Airport Trust(h)		5.50	%		07/31/2047		172,867
	126,425	Mexico Generadora de Energia S de rl		5.50	%		12/06/2032		123,308
	700,000	Operadora de Servicios Mega SA de CV Sofom ER(f)		8.25	%		02/11/2025		368,375
	750,000	Petroleos Mexicanos		6.38	%		01/23/2045		489,521
	500,000	Petroleos Mexicanos		6.75	%		09/21/2047		327,788
	1,000,000	Unifin Financiera SAB de CV(e)(h)(j)		8.88	%		Perpetual Maturity		5,100
									2,806,659
Morocco - 0.08%
	1,200,000	OCP SA(h)		5.13	%		06/23/2051		914,015
Netherlands - 0.22%
	300,000	Braskem Netherlands Finance BV(g)		5Y US TI + 8.22%			01/23/2081		258,282
	800,000	Coruripe Netherlands BV(h)		10.00	%		02/10/2027		615,000
	200,000	Metinvest BV(h)		7.75	%		10/17/2029		122,575
	1,400,000	Minejesa Capital BV		5.63	%		08/10/2037		1,230,096
	161,272	MV24 Capital BV(h)		6.75	%		06/01/2034		151,082
	265,000	NXP BV / NXP Funding LLC / NXP USA, Inc.		3.88	%		06/18/2026		258,284
									2,635,319
Panama - 0.08%
	200,000	Empresa de Transmision Electrica SA(h)		5.13	%		05/02/2049		145,369
	200,000	Global Bank Corp.(g)(h)		3M US L + 3.30%			04/16/2029		179,244
	616,298	UEP Penonome II SA(f)		6.50	%		10/01/2038		470,125
	176,085	UEP Penonome II SA		6.50	%		10/01/2038		134,321
									929,059
Paraguay - 0.04%
	300,000	Frigorifico Concepcion SA(f)		7.70	%		07/21/2028		254,257
	200,000	Frigorifico Concepcion SA(h)		7.70	%		07/21/2028		169,505
									423,762
Peru - 0.23%
	90,000	Banco de Credito del Peru S.A.(g)(h)		5Y US TI + 3.13%			07/01/2030		85,686
	100,000	Banco de Credito del Peru S.A.(g)(h)		5Y US TI + 2.45%			09/30/2031		91,549
	150,000	Banco Internacional del Peru SAA Interbank(g)		3M US L + 5.76%			03/19/2029		149,428
	200,000	Banco Internacional del Peru SAA Interbank(g)		1Y US TI + 3.71%			07/08/2030		191,676
	300,000	Camposol SA(f)		6.00	%		02/03/2027		209,117
	400,000	Camposol SA(h)		6.00	%		02/03/2027		278,823
	200,000	Cia de Minas Buenaventura SAA(h)		5.50	%		07/23/2026		191,108
	200,000	Corp Financiera de Desarrollo SA(g)(h)		5.61% - 3M US L			07/15/2029		198,329
	205,000	Inkia Energy, Ltd.(h)		5.88	%		11/09/2027		196,043
	200,000	Orazul Energy Peru SA(h)		5.63	%		04/28/2027		188,692
	200,000	Petroleos del Peru SA(h)		4.75	%		06/19/2032		143,740
	1,350,000	Petroleos del Peru SA(h)		5.63	%		06/19/2047		832,916
									2,757,107

Principal Amount/Description			Rate			Maturity		Value
Singapore - 0.15%
$	200,000	DBS Group Holdings, Ltd.(g)		5Y US TI + 1.10%			03/10/2031	$	185,518
	1,126,440	LLPL Capital Pte, Ltd.(h)		6.88	%		02/04/2039		1,087,161
	200,000	Oversea-Chinese Banking Corp., Ltd.(g)(h)		5Y US TI + 1.58%			09/10/2030		188,208
	210,000	Pfizer Investment Enterprises Pte, Ltd.		4.75	%		05/19/2033		210,549
	200,000	United Overseas Bank, Ltd.(g)		5Y US TI + 1.75%			03/16/2031		184,660
									1,856,096
Spain - 0.15%
	250,000	AI Candelaria Spain SA(f)		5.75	%		06/15/2033		194,110
	1,200,000	AI Candelaria Spain SA(h)		5.75	%		06/15/2033		931,728
	800,000	EnfraGen Energia Sur SA / EnfraGen Spain SA / Prime Energia SpA		5.38	%		12/30/2030		625,707
									1,751,545
Vietnam - 0.02%
	230,573	Mong Duong Finance Holdings BV(h)		5.13	%		05/07/2029		214,716
TOTAL FOREIGN CORPORATE BONDS
(Cost $62,194,654)									51,482,455
U.S. CORPORATE BONDS - 10.04%
Advertising - 0.02%
	50,000	Clear Channel Outdoor Holdings, Inc.(f)		7.50	%		06/01/2029		41,621
	200,000	Interpublic Group of Cos., Inc.		5.40	%		10/01/2048		189,796
									231,417
Aerospace/Defense - 0.05%
	295,000	Boeing Co.		2.95	%		02/01/2030		265,984
	175,000	Boeing Co.		3.75	%		02/01/2050		136,003
	75,000	Spirit AeroSystems, Inc.(f)		9.75	%		11/15/2030		80,717
	105,000	Triumph Group, Inc.		7.75	%		08/15/2025		104,740
									587,444
Agriculture - 0.06%
	585,000	Philip Morris International, Inc.		5.50	%		09/07/2030		606,756
	236,693	Pyxus Holdings, Inc.(f)		8.50	%		12/31/2027		151,484
									758,240
Airlines - 0.04%
	70,000	American Airlines, Inc.(f)		7.25	%		02/15/2028		70,864
	120,000	American Airlines, Inc.(f)		8.50	%		05/15/2029		126,795
	190,000	American Airlines, Inc./AAdvantage Loyalty IP, Ltd.(f)		5.75	%		04/20/2029		185,422
	158,681	United Airlines 2016-1 Class B Pass Through Trust		3.65	%		01/07/2026		148,192
									531,273
Apparel - 0.01%
	125,000	Tapestry, Inc.		7.05	%		11/27/2025		127,828
Auto Manufacturers - 0.11%
	320,000	Ford Motor Co.		3.25	%		02/12/2032		266,279
	300,000	General Motors Financial Co., Inc.		2.40	%		10/15/2028		266,570
	315,000	General Motors Financial Co., Inc.		3.10	%		01/12/2032		268,341
	525,000	Hyundai Capital America(f)		2.65	%		02/10/2025		509,695
									1,310,885

Principal Amount/Description			Rate		Maturity		Value
Auto Parts & Equipment - 0.04%
$	85,000	Goodyear Tire & Rubber Co.	5.25	%		07/15/2031	$	77,227
	1,179,000	Wheel Pros, Inc.(f)	6.50	%		05/15/2029		361,069
								438,296
Banks - 0.48%
	175,000	Bank of America Corp.(g)	1D US SOFR + 1.11%			04/25/2025		173,904
	180,000	Bank of America Corp.(g)	1D US SOFR + 1.75%			07/22/2026		178,719
	205,000	Bank of America Corp.(g)	1D US SOFR + 1.21%			10/20/2032		170,044
	590,000	Bank of America Corp.(g)	5Y US TI + 2.48%			09/21/2036		467,609
	120,000	Citigroup, Inc.(g)	1D US SOFR + 0.69%			01/25/2026		115,364
	120,000	Citigroup, Inc.(g)	1D US SOFR + 1.28%			02/24/2028		113,126
	590,000	Goldman Sachs Group, Inc.(g)	3M SOFR + 1.43%			05/15/2026		593,944
	175,000	Goldman Sachs Group, Inc.(g)	1D US SOFR + 0.82%			09/10/2027		171,620
	165,000	JPMorgan Chase & Co.(g)	1D US SOFR + 0.92%			02/24/2026		159,872
	85,000	JPMorgan Chase & Co.(g)	1D US SOFR + 1.99%			07/25/2028		85,066
	240,000	JPMorgan Chase & Co.(g)	1D SOFR + 1.02%			06/01/2029		212,917
	345,000	JPMorgan Chase & Co.(g)	1D US SOFR + 2.04%			04/22/2031		298,455
	290,000	JPMorgan Chase & Co.(g)	3M SOFR + 1.25%			04/22/2032		245,431
	290,000	JPMorgan Chase & Co.(g)	1D US SOFR + 1.26%			01/25/2033		248,612
	205,000	Morgan Stanley(g)	1D US SOFR + 1.67%			07/17/2026		203,159
	215,000	Morgan Stanley(g)	1D US SOFR + 1.61%			04/20/2028		210,245
	95,000	Morgan Stanley(g)	1D US SOFR + 1.29%			01/21/2033		80,845
	585,000	Morgan Stanley(g)	1D SOFR + 2.48%			09/16/2036		463,962
	135,000	Santander Holdings USA, Inc.(g)	1D US SOFR + 1.25%			01/06/2028		123,699
	105,000	Santander Holdings USA, Inc.(g)	1D US SOFR + 2.36%			03/09/2029		108,576
	220,000	Truist Financial Corp.(g)	1D US SOFR + 1.44%			01/26/2029		216,884
	245,000	Wells Fargo & Co.(g)	3M SOFR + 1.43%			06/17/2027		234,311
	275,000	Wells Fargo & Co.(g)	1D US SOFR + 1.98%			07/25/2028		273,124
	290,000	Wells Fargo & Co.(g)	1D US SOFR + 1.43%			10/30/2030		258,002
	370,000	Wells Fargo & Co.(g)	1D US SOFR + 2.06%			10/23/2034		402,732
								5,810,222
Beverages - 0.05%
	290,000	Constellation Brands, Inc.	2.88	%		05/01/2030		259,915
	160,000	PepsiCo, Inc.	3.60	%		02/18/2028		156,721
	260,000	Triton Water Holdings, Inc.(f)	6.25	%		04/01/2029		226,764
								643,400
Biotechnology - 0.08%
	255,000	Amgen, Inc.	5.25	%		03/02/2030		262,258
	210,000	Amgen, Inc.	5.75	%		03/02/2063		220,583
	150,000	Gilead Sciences, Inc.	5.55	%		10/15/2053		162,661

Principal Amount/Description			Rate			Maturity		Value
$	325,000	Royalty Pharma PLC		2.15	%		09/02/2031	$	265,610
									911,112
Building Materials - 0.06%
	130,000	Builders FirstSource, Inc.(f)		6.38	%		06/15/2032		132,891
	50,000	Carrier Global Corp.(f)		6.20	%		03/15/2054		57,858
	130,000	Griffon Corp.		5.75	%		03/01/2028		127,892
	290,000	Owens Corning		4.40	%		01/30/2048		253,218
	115,000	Standard Industries, Inc.(f)		4.38	%		07/15/2030		105,752
									677,611
Chemicals - 0.10%
	170,000	ASP Unifrax Holdings, Inc.(f)		7.50	%		09/30/2029		86,705
	285,000	CF Industries, Inc.		5.38	%		03/15/2044		272,784
	240,000	Illuminate Buyer LLC / Illuminate Holdings IV, Inc.(f)		9.00	%		07/01/2028		229,776
	250,000	Mosaic Co.		5.38	%		11/15/2028		255,365
	400,000	Sasol Financing USA LLC		5.50	%		03/18/2031		337,344
	75,000	WR Grace Holdings LLC(f)		5.63	%		08/15/2029		66,083
									1,248,057
Coal - 0.01%
	110,000	SunCoke Energy, Inc.(f)		4.88	%		06/30/2029		99,114
Commercial Services - 0.08%
	120,000	Allied Universal Holdco LLC / Allied Universal Finance Corp.(f)		6.63	%		07/15/2026		119,483
	70,000	Allied Universal Holdco LLC / Allied Universal Finance Corp.(f)		9.75	%		07/15/2027		68,671
	260,000	Global Payments, Inc.		4.95	%		08/15/2027		260,577
	105,000	Metis Merger Sub LLC(f)		6.50	%		05/15/2029		95,069
	105,000	Triton Container International, Ltd.(f)		1.15	%		06/07/2024		102,476
	200,000	Triton Container International, Ltd. / TAL International Container Corp.		3.25	%		03/15/2032		160,486
	65,000	VT Topco, Inc.(f)		8.50	%		08/15/2030		67,693
	50,000	WASH Multifamily Acquisition, Inc.(f)		5.75	%		04/15/2026		48,170
									922,625
Computers - 0.07%
	280,000	Fortinet, Inc.		1.00	%		03/15/2026		256,886
	205,000	Hewlett Packard Enterprise Co.		5.90	%		10/01/2024		205,574
	270,000	NetApp, Inc.		1.88	%		06/22/2025		257,001
	85,000	Virtusa Corp.(f)		7.13	%		12/15/2028		73,026
									792,487
Containers and Packaging - 0.02%
	270,000	Packaging Corp. of America		3.40	%		12/15/2027		257,310
Cosmetics/Personal Care - 0.01%
	130,000	Coty, Inc./HFC Prestige Products Inc/HFC Prestige International US LLC(f)		6.63	%		07/15/2030		133,631
Distribution/Wholesale - 0.04%
	180,000	BCPE Empire Holdings, Inc.(f)		7.63	%		05/01/2027		173,754
	315,000	Dealer Tire LLC / DT Issuer LLC(f)		8.00	%		02/01/2028		312,217
									485,971

Principal Amount/Description			Rate		Maturity		Value
Diversified Financial Services - 0.22%
$	150,000	Air Lease Corp.	1.88	%	08/15/2026	$	138,054
	835,000	Air Methods Corp.(f)	8.00	%	05/15/2025		13,569
	510,000	American Express Co.	3.95	%	08/01/2025		501,892
	415,000	Aviation Capital Group LLC(f)	1.95	%	09/20/2026		376,862
	450,000	BlackRock, Inc.	4.75	%	05/25/2033		454,222
	150,000	Capital One Financial Corp.(g)	1D US SOFR + 2.16%		07/24/2026		148,346
	145,000	Capital One Financial Corp.(g)	1D US SOFR + 2.44%		10/29/2027		150,612
	140,000	Nationstar Mortgage Holdings, Inc.(f)	5.75	%	11/15/2031		130,737
	95,000	Navient Corp.	5.00	%	03/15/2027		91,808
	125,000	OneMain Finance Corp.	6.63	%	01/15/2028		126,288
	65,000	PennyMac Financial Services, Inc.(f)	4.25	%	02/15/2029		58,582
	70,000	PennyMac Financial Services, Inc.(f)	7.88	%	12/15/2029		72,156
	435,000	Synchrony Financial	3.95	%	12/01/2027		407,272
							2,670,400
Electric - 0.51%
	55,000	AEP Transmission Co. LLC	5.40	%	03/15/2053		57,259
	240,000	DTE Energy Co.(m)	4.22	%	11/01/2024		237,342
	500,000	DTE Energy Co.	4.88	%	06/01/2028		504,756
	80,000	Duke Energy Carolinas LLC	2.85	%	03/15/2032		69,797
	95,000	Duke Energy Corp.	4.30	%	03/15/2028		93,738
	325,000	Duke Energy Corp.	3.95	%	08/15/2047		259,350
	85,000	Duke Energy Corp.	5.00	%	08/15/2052		79,540
	130,000	Entergy Corp.	2.80	%	06/15/2030		114,485
	150,000	Exelon Corp.	5.15	%	03/15/2028		152,584
	1,000,000	Exelon Corp.	4.05	%	04/15/2030		954,670
	290,000	Georgia Power Co.	2.20	%	09/15/2024		282,804
	670,000	Georgia Power Co.	3.25	%	03/15/2051		485,452
	175,000	Monongahela Power Co.(f)	5.40	%	12/15/2043		171,773
	230,000	NextEra Energy Capital Holdings, Inc.	4.26	%	09/01/2024		227,905
	750,000	NextEra Energy Capital Holdings, Inc.	2.44	%	01/15/2032		629,005
	125,000	Northern States Power Co.	5.10	%	05/15/2053		126,272
	160,000	NRG Energy, Inc.(f)	2.00	%	12/02/2025		150,126
	150,000	NRG Energy, Inc.(f)	3.63	%	02/15/2031		129,058
	265,000	Pacific Gas and Electric Co.	6.10	%	01/15/2029		274,469
	345,000	Pacific Gas and Electric Co.	2.50	%	02/01/2031		284,924
	135,000	Pike Corp.(f)	5.50	%	09/01/2028		128,778
	60,000	Pike Corp.(f)	8.63	%	01/31/2031		63,125
	85,000	San Diego Gas & Electric Co.	5.35	%	04/01/2053		86,167
	205,000	Southern Co.(g)	5Y US TI + 2.92%		09/15/2051		187,167
	225,000	Southwestern Electric Power Co.	3.25	%	11/01/2051		152,080
	110,000	Virginia Electric and Power Co.	3.75	%	05/15/2027		107,459
	85,000	Vistra Operations Co. LLC(f)	7.75	%	10/15/2031		88,344
							6,098,429
Electronics - 0.02%
	220,000	Arrow Electronics, Inc.	3.88	%	01/12/2028		208,855
Engineering & Construction - 0.04%
	265,000	Artera Services LLC(f)	9.03	%	12/04/2025		250,935
	185,000	Jacobs Engineering Group, Inc.	5.90	%	03/01/2033		189,043
							439,978

Principal Amount/Description			Rate			Maturity		Value
Entertainment - 0.06%
$	135,000	Light & Wonder International, Inc.(f)		7.25	%		11/15/2029	$	138,360
	135,000	Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp.(f)		4.88	%		05/01/2029		125,699
	50,000	Premier Entertainment Sub LLC / Premier Entertainment Finance Corp.(f)		5.63	%		09/01/2029		40,049
	145,000	Premier Entertainment Sub LLC / Premier Entertainment Finance Corp.(f)		5.88	%		09/01/2031		113,279
	265,000	Scientific Games Holdings LP/Scientific Games US FinCo, Inc.(f)		6.63	%		03/01/2030		250,853
									668,240
Environmental Control - 0.02%
	120,000	Madison IAQ LLC(f)		4.13	%		06/30/2028		109,217
	175,000	Veralto Corp.(f)		5.35	%		09/18/2028		179,227
									288,444
Food - 0.11%
	300,000	JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc.(h)		4.38	%		02/02/2052		223,629
	489,000	Smithfield Foods, Inc.(f)		4.25	%		02/01/2027		468,680
	395,000	Sysco Corp.		6.00	%		01/17/2034		427,831
	75,000	United Natural Foods, Inc.(f)		6.75	%		10/15/2028		60,814
	140,000	US Foods, Inc.(f)		7.25	%		01/15/2032		146,155
									1,327,109
Food Service - 0.01%
	105,000	TKC Holdings, Inc.(f)		10.50	%		05/15/2029		95,132
Hand/Machine Tools - 0.01%
	130,000	Regal Rexnord Corp.(f)		6.05	%		02/15/2026		131,466
Healthcare-Products - 0.02%
	165,000	Medline Borrower LP(f)		5.25	%		10/01/2029		155,746
	145,000	Zimmer Biomet Holdings, Inc.		5.35	%		12/01/2028		149,487
									305,233
Healthcare-Services - 0.22%
	425,000	Centene Corp.		2.50	%		03/01/2031		354,671
	90,000	CHS/Community Health Systems, Inc.(f)		6.00	%		01/15/2029		81,114
	210,000	Elevance Health, Inc.		2.38	%		01/15/2025		204,035
	85,000	Elevance Health, Inc.		4.55	%		05/15/2052		77,654
	70,000	Fortrea Holdings, Inc.(f)		7.50	%		07/01/2030		71,976
	385,000	HCA, Inc.		5.38	%		02/01/2025		384,624
	250,000	HCA, Inc.		4.13	%		06/15/2029		239,195
	175,000	IQVIA, Inc.(f)		6.25	%		02/01/2029		182,909
	120,000	Legacy LifePoint Health LLC(f)		4.38	%		02/15/2027		110,918
	155,000	ModivCare Escrow Issuer, Inc.(f)		5.00	%		10/01/2029		126,894
	100,000	Radiology Partners, Inc.(f)		9.25	%		02/01/2028		51,394
	100,000	Tenet Healthcare Corp.		6.25	%		02/01/2027		100,561
	220,000	Tenet Healthcare Corp.		6.13	%		06/15/2030		222,714
	305,000	UnitedHealth Group, Inc.		5.05	%		04/15/2053		308,396
	90,000	UnitedHealth Group, Inc.		4.95	%		05/15/2062		88,903
									2,605,958
Housewares - 0.01%
	160,000	SWF Escrow Issuer Corp.(f)		6.50	%		10/01/2029		115,161

Principal Amount/Description			Rate			Maturity		Value
Insurance - 0.19%
$	95,000	Alliant Holdings Intermediate LLC / Alliant Holdings Co.-Issuer(f)		6.75	%		10/15/2027	$	94,762
	100,000	AmWINS Group, Inc.(f)		4.88	%		06/30/2029		91,456
	260,000	Athene Global Funding(f)(g)		SOFRINDX + 0.56	%		08/19/2024		258,992
	270,000	Athene Holding, Ltd.		5.88	%		01/15/2034		272,775
	215,000	Berkshire Hathaway Finance Corp.		2.85	%		10/15/2050		150,840
	110,000	Berkshire Hathaway Finance Corp.		3.85	%		03/15/2052		92,048
	95,000	Brighthouse Financial Global Funding(f)		1.00	%		04/12/2024		93,654
	130,000	Brighthouse Financial Global Funding(f)		2.00	%		06/28/2028		112,144
	90,000	GTCR AP Finance, Inc.(f)		8.00	%		05/15/2027		91,036
	60,000	HUB International, Ltd.(f)		7.25	%		06/15/2030		63,414
	285,000	Massachusetts Mutual Life Insurance Co.(f)		3.20	%		12/01/2061		185,561
	290,000	MetLife, Inc.		5.25	%		01/15/2054		298,363
	460,000	Willis North America, Inc.		4.50	%		09/15/2028		448,593
									2,253,638
Internet - 0.10%
	130,000	Expedia Group, Inc.		5.00	%		02/15/2026		129,926
	245,000	Expedia Group, Inc.		3.80	%		02/15/2028		236,399
	58,000	Expedia Group, Inc.		2.95	%		03/15/2031		51,072
	275,000	Meta Platforms, Inc.		3.85	%		08/15/2032		261,674
	300,000	Meta Platforms, Inc.		4.45	%		08/15/2052		275,854
	130,000	Netflix, Inc.		4.88	%		04/15/2028		131,822
	135,000	Newfold Digital Holdings Group, Inc.(f)		6.00	%		02/15/2029		102,132
									1,188,879
Investment Companies - 4.80%
	8,000,000	Blackstone Private Credit Fund		2.63	%		12/15/2026		7,251,074
	6,800,000	Blue Owl Capital Corp.		3.75	%		07/22/2025		6,516,235
	4,092,439	Blue Owl Capital Corp.		2.88	%		06/11/2028		3,596,383
	667,000	Blue Owl Capital Corp. II(f)		4.63	%		11/26/2024		660,431
	5,247,000	Blue Owl Capital Corp. III		3.13	%		04/13/2027		4,640,132
	6,661,000	Blue Owl Credit Income Corp.		5.50	%		03/21/2025		6,571,573
	844	Blue Owl Credit Income Corp.(f)		5.50	%		03/21/2025		833
	2,000,000	Blue Owl Credit Income Corp.		4.70	%		02/08/2027		1,891,098
	3,482,180	Blue Owl Credit Income Corp.		7.75	%		09/16/2027		3,593,330
	2,000,000	Blue Owl Credit Income Corp.(f)		7.95	%		06/13/2028		2,075,094
	2,000,000	Blue Owl Technology Finance Corp.(f)		6.75	%		06/30/2025		1,971,034
	5,000,000	Blue Owl Technology Finance Corp.(f)		4.75	%		12/15/2025		4,731,750
	1,500,000	Franklin BSP Lending Corp.(f)		4.85	%		12/15/2024		1,460,115
	2,300,000	Golub Capital BDC, Inc.		2.05	%		02/15/2027		2,020,909
	8,300,000	Oaktree Specialty Lending Corp.		7.10	%		02/15/2029		8,568,871
	1,000,000	Oaktree Strategic Credit Fund(f)		8.40	%		11/14/2028		1,054,436
	1,000,000	Sixth Street Specialty Lending, Inc.		3.88	%		11/01/2024		982,409
									57,585,707
Leisure Time - 0.13%
	405,000	Carnival Corp.(f)		7.63	%		03/01/2026		412,576
	255,000	Carnival Corp.(f)		5.75	%		03/01/2027		248,927
	140,000	NCL Corp., Ltd.(f)		5.88	%		02/15/2027		138,879
	125,000	Viking Cruises, Ltd.(f)		5.88	%		09/15/2027		120,734

Principal Amount/Description			Rate			Maturity		Value
$	615,000	Viking Cruises, Ltd.(f)		9.13	%		07/15/2031	$	655,766
									1,576,882
Lodging - 0.04%
	270,000	Marriott International, Inc.		3.13	%		06/15/2026		259,573
	325,000	Marriott International, Inc.		2.75	%		10/15/2033		268,358
									527,931
Machinery-Diversified - 0.02%
	260,000	John Deere Capital Corp.		4.70	%		06/10/2030		264,364
Media - 0.18%
	140,000	CCO Holdings LLC / CCO Holdings Capital Corp.(f)		4.75	%		02/01/2032		123,634
	80,000	CCO Holdings LLC / CCO Holdings Capital Corp.(f)		4.25	%		01/15/2034		65,117
	260,000	Charter Communications Operating LLC / Charter Communications Operating Capital		4.91	%		07/23/2025		257,676
	310,000	Charter Communications Operating LLC / Charter Communications Operating Capital		3.50	%		03/01/2042		215,912
	150,000	Comcast Corp.		3.95	%		10/15/2025		148,022
	280,000	Comcast Corp.		3.40	%		04/01/2030		262,185
	75,000	Directv Financing LLC / Directv Financing Co.-Obligor, Inc.(f)		5.88	%		08/15/2027		70,530
	95,000	DISH DBS Corp.(f)		5.75	%		12/01/2028		75,950
	700,000	McGraw-Hill Education, Inc.(f)		5.75	%		08/01/2028		675,689
	85,000	News Corp.(f)		5.13	%		02/15/2032		80,783
	75,000	Scripps Escrow II, Inc.(f)		3.88	%		01/15/2029		66,410
	70,000	Townsquare Media, Inc.(f)		6.88	%		02/01/2026		68,637
	75,000	Univision Communications, Inc.(f)		7.38	%		06/30/2030		74,872
									2,185,417
Metal Fabricate/Hardware - 0.01%
	100,000	Advanced Drainage Systems, Inc.(f)		6.38	%		06/15/2030		100,813
Mining - 0.04%
	50,000	Freeport-McMoRan, Inc.		4.38	%		08/01/2028		48,058
	100,000	Freeport-McMoRan, Inc.		4.63	%		08/01/2030		97,870
	250,000	Glencore Funding LLC(f)		1.63	%		04/27/2026		231,858
	80,000	Novelis Corp.(f)		4.75	%		01/30/2030		75,364
									453,150
Miscellaneous Manufactur - 0.02%
	130,000	Eaton Corp.		4.35	%		05/18/2028		130,280
	130,000	Parker-Hannifin Corp.		4.25	%		09/15/2027		128,941
									259,221
Oil & Gas - 0.31%
	260,000	BP Capital Markets America, Inc.		4.89	%		09/11/2033		264,666
	160,000	BP Capital Markets America, Inc.		2.94	%		06/04/2051		110,956
	165,000	Callon Petroleum Co.(f)		7.50	%		06/15/2030		166,581
	125,000	Chesapeake Energy Corp.(f)		5.88	%		02/01/2029		122,631
	85,000	Civitas Resources, Inc.(f)		8.38	%		07/01/2028		88,842
	125,000	CNX Resources Corp.(f)		6.00	%		01/15/2029		119,978
	260,000	Exxon Mobil Corp.		4.23	%		03/19/2040		241,498
	95,000	Hilcorp Energy I LP / Hilcorp Finance Co.(f)		5.75	%		02/01/2029		91,847
	25,000	Hilcorp Energy I LP / Hilcorp Finance Co.(f)		8.38	%		11/01/2033		26,525

Principal Amount/Description			Rate			Maturity		Value
$	205,000	Marathon Petroleum Corp.		5.13	%		12/15/2026	$	207,334
	750,000	NiSource, Inc.		3.60	%		05/01/2030		698,304
	245,000	Occidental Petroleum Corp.		6.63	%		09/01/2030		260,859
	65,000	Permian Resources Operating LLC(f)		7.00	%		01/15/2032		67,107
	700,000	SierraCol Energy Andina LLC(f)		6.00	%		06/15/2028		589,708
	300,000	SierraCol Energy Andina LLC(h)		6.00	%		06/15/2028		252,732
	65,000	Sitio Royalties Operating Partnership LP / Sitio Finance Corp.(f)		7.88	%		11/01/2028		67,409
	140,000	Southwestern Energy Co.		5.38	%		02/01/2029		136,759
	100,000	Sunoco LP / Sunoco Finance Corp.		4.50	%		05/15/2029		93,002
	65,000	Transocean, Inc.(f)		8.00	%		02/01/2027		63,441
									3,670,179
Oil & Gas Services - 0.01%
	110,000	Halliburton Co.		4.85	%		11/15/2035		108,396
	50,000	Weatherford International, Ltd.(f)		8.63	%		04/30/2030		52,248
									160,644
Packaging & Containers - 0.08%
	170,000	Berry Global, Inc.		1.65	%		01/15/2027		153,180
	115,000	Pactiv Evergreen Group Issuer LLC / Pactiv Evergreen Group Issuer, Inc.(f)		4.38	%		10/15/2028		107,628
	200,000	Trident TPI Holdings, Inc.(f)		12.75	%		12/31/2028		214,250
	471,000	WRKCo, Inc.		3.75	%		03/15/2025		462,476
									937,534
Pharmaceuticals - 0.16%
	565,000	AbbVie, Inc.		4.70	%		05/14/2045		538,234
	75,000	AdaptHealth LLC(f)		5.13	%		03/01/2030		58,602
	235,000	Becton Dickinson & Co.		4.69	%		02/13/2028		236,137
	130,000	CVS Health Corp.		5.13	%		02/21/2030		132,094
	260,000	CVS Health Corp.		5.30	%		06/01/2033		266,927
	260,000	CVS Health Corp.		5.88	%		06/01/2053		273,813
	185,000	Merck & Co., Inc.		4.50	%		05/17/2033		186,437
	95,000	Owens & Minor, Inc.(f)		6.63	%		04/01/2030		90,825
	165,000	Viatris, Inc.		1.65	%		06/22/2025		156,312
									1,939,381
Pipelines - 0.33%
	73,000	Antero Midstream Partners LP / Antero Midstream Finance Corp.(f)		5.75	%		03/01/2027		72,479
	265,000	Cheniere Energy, Inc.		4.63	%		10/15/2028		258,858
	260,000	Energy Transfer LP		4.75	%		01/15/2026		258,429
	1,000,000	Energy Transfer LP		3.90	%		07/15/2026		972,243
	155,000	Energy Transfer LP		4.40	%		03/15/2027		151,647
	310,000	Energy Transfer LP		5.00	%		05/15/2044		272,651
	100,000	EQM Midstream Partners LP(f)		4.75	%		01/15/2031		93,199
	100,000	Hess Midstream Operations LP(f)		4.25	%		02/15/2030		92,115
	433,000	Kinder Morgan Energy Partners LP		6.95	%		01/15/2038		476,007
	405,000	NGL Energy Operating LLC / NGL Energy Finance Corp.(f)		7.50	%		02/01/2026		409,374
	120,000	NGPL PipeCo LLC(f)		3.25	%		07/15/2031		104,257
	140,000	ONEOK, Inc.		3.40	%		09/01/2029		129,120
	125,000	ONEOK, Inc.		6.63	%		09/01/2053		140,050
	205,000	Sabine Pass Liquefaction LLC		5.00	%		03/15/2027		205,975
	100,000	Venture Global LNG, Inc.(f)		8.13	%		06/01/2028		101,081
	115,000	Venture Global LNG, Inc.(f)		8.38	%		06/01/2031		115,113

Principal Amount/Description			Rate			Maturity		Value
$	65,000	Venture Global LNG, Inc.(f)		9.88	%		02/01/2032	$	67,747
									3,920,345
Real Estate - 0.00%(l)
	65,000	Realogy Group LLC / Realogy Co.-Issuer Corp.(f)		5.25	%		04/15/2030		48,596
REITS - 0.24%
	115,000	Agree LP		2.60	%		06/15/2033		91,331
	245,000	Alexandria Real Estate Equities, Inc.		3.00	%		05/18/2051		161,664
	60,000	Alexandria Real Estate Equities, Inc.		5.15	%		04/15/2053		57,972
	110,000	American Tower Corp.		5.55	%		07/15/2033		113,890
	220,000	Corporate Office Properties LP		2.90	%		12/01/2033		171,989
	770,000	Crown Castle, Inc.		3.65	%		09/01/2027		732,730
	290,000	Equinix, Inc.		1.80	%		07/15/2027		262,741
	300,000	Host Hotels & Resorts LP		2.90	%		12/15/2031		251,888
	355,000	Invitation Homes Operating Partnership LP		5.45	%		08/15/2030		358,155
	265,000	Invitation Homes Operating Partnership LP		2.70	%		01/15/2034		213,243
	170,000	Iron Mountain, Inc.(f)		7.00	%		02/15/2029		174,846
	75,000	Iron Mountain, Inc.(f)		4.50	%		02/15/2031		68,066
	155,000	Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co.-Issuer(f)		4.88	%		05/15/2029		143,645
	90,000	Sabra Health Care LP		3.20	%		12/01/2031		73,705
									2,875,865
Retail - 0.15%
	130,000	Dollar General Corp.		4.25	%		09/20/2024		128,624
	470,000	Dollar Tree, Inc.		4.00	%		05/15/2025		461,806
	80,000	Dollar Tree, Inc.		3.38	%		12/01/2051		55,504
	75,000	Ferrellgas LP / Ferrellgas Finance Corp.(f)		5.38	%		04/01/2026		73,470
	75,000	Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc.(f)		6.75	%		01/15/2030		65,936
	155,000	Lowe's Cos., Inc.		4.40	%		09/08/2025		153,870
	160,000	Lowe's Cos., Inc.		5.63	%		04/15/2053		167,888
	300,000	McDonald's Corp.		4.45	%		03/01/2047		274,790
	80,000	Michaels Cos., Inc.(f)		5.25	%		05/01/2028		63,306
	125,000	O'Reilly Automotive, Inc.		5.75	%		11/20/2026		128,043
	115,000	SRS Distribution, Inc.(f)		4.63	%		07/01/2028		109,228
	35,000	Staples, Inc.(f)		7.50	%		04/15/2026		32,593
	105,000	Suburban Propane Partners LP/Suburban Energy Finance Corp.(f)		5.00	%		06/01/2031		95,348
	65,000	Victoria's Secret & Co.(f)		4.63	%		07/15/2029		54,377
									1,864,783
Semiconductors - 0.11%
	459,000	Broadcom, Inc.(f)		3.42	%		04/15/2033		403,352
	335,000	Broadcom, Inc.(f)		3.19	%		11/15/2036		271,654
	610,000	Marvell Technology, Inc.		2.95	%		04/15/2031		533,354
	80,000	Texas Instruments, Inc.		5.00	%		03/14/2053		81,999
									1,290,359
Software - 0.11%
	70,000	AthenaHealth Group, Inc.(f)		6.50	%		02/15/2030		63,596
	650,000	Castle US Holding Corp.(f)		9.50	%		02/15/2028		338,634

Principal Amount/Description			Rate			Maturity		Value
$	90,000	Central Parent LLC / CDK Global II LLC / CDK Financing Co., Inc.(f)		8.00	%		06/15/2029	$	94,008
	120,000	Clarivate Science Holdings Corp.(f)		4.88	%		07/01/2029		112,725
	250,000	Intuit, Inc.		5.50	%		09/15/2053		273,654
	145,000	Oracle Corp.		6.25	%		11/09/2032		157,800
	95,000	Oracle Corp.		3.80	%		11/15/2037		80,827
	275,000	Workday, Inc.		3.70	%		04/01/2029		264,107
									1,385,351
Telecommunications - 0.24%
	500,000	AT&T, Inc.		4.30	%		02/15/2030		490,024
	130,000	AT&T, Inc.		2.75	%		06/01/2031		114,024
	745,000	AT&T, Inc.		3.50	%		09/15/2053		541,265
	75,000	CommScope, Inc.(f)		4.75	%		09/01/2029		50,426
	500,000	Embarq Corp Eq		8.00	%		06/01/2036		313,113
	30,000	Frontier Communications Holdings LLC(f)		5.88	%		10/15/2027		29,008
	85,000	Frontier Communications Holdings LLC(f)		5.00	%		05/01/2028		78,633
	74,000	Level 3 Financing, Inc.(f)		10.50	%		05/15/2030		71,827
	110,000	T-mobile Usa Inc Tmus 4 3/4 02/01/28		4.75	%		02/01/2028		109,674
	275,000	T-Mobile USA, Inc.		2.25	%		02/15/2026		260,772
	285,000	T-Mobile USA, Inc.		3.40	%		10/15/2052		207,819
	500,000	Verizon Communications, Inc.		3.15	%		03/22/2030		457,175
	130,000	Verizon Communications, Inc.		3.88	%		03/01/2052		105,424
									2,829,184
Transportation - 0.14%
	185,000	Burlington Northern Santa Fe LLC		5.20	%		04/15/2054		192,762
	670,000	CSX Corp.		3.80	%		11/01/2046		557,643
	255,000	Ryder System, Inc.		5.65	%		03/01/2028		262,836
	500,000	Union Pacific Corp.		3.70	%		03/01/2029		488,550
	135,000	XPO, Inc.(f)		7.13	%		06/01/2031		139,896
									1,641,687
Trucking & Leasing - 0.02%
	240,000	Penske Truck Leasing Co. LP / PTL Finance Corp.(f)		4.20	%		04/01/2027		232,152
Trucking&Leasing - 0.03%
	145,000	Fortress Transportation and Infrastructure Investors LLC(f)		7.88	%		12/01/2030		151,196
	175,000	Penske Truck Leasing Co. Lp / PTL Finance Corp.(f)		5.75	%		05/24/2026		176,504
									327,700
TOTAL U.S. CORPORATE BONDS
(Cost $124,563,519)									120,441,090
FOREIGN GOVERNMENT BONDS AND NOTES, SUPRANATIONALS AND FOREIGN AGENCIES - 0.42%
	200,000	Banco Nacional de Comercio Exterior SNC(g)(h)		5Y US TI + 2.00	%		08/11/2031		170,895
	700,000	Brazilian Government International Bond		4.75	%		01/14/2050		540,836
	200,000	Colombia Government International Bond		4.13	%		02/22/2042		143,589
	900,000	Colombia Government International Bond		5.00	%		06/15/2045		701,428

Principal Amount/Description			Rate			Maturity		Value
$	300,000	Colombia Government International Bond		5.20	%		05/15/2049	$	235,340
	600,000	Colombia Government International Bond		4.13	%		05/15/2051		400,764
	600,000	Dominican Republic International Bond(f)		6.40	%		06/05/2049		567,000
	790,000	Mexico Government International Bond		3.75	%		01/11/2028		763,166
	300,000	Mexico Government International Bond		4.40	%		02/12/2052		238,362
	200,000	Mexico Government International Bond		6.34	%		05/04/2053		204,104
	300,000	Panama Government International Bond		3.87	%		07/23/2060		180,428
	900,000	Republic of South Africa Government International Bond		5.65	%		09/27/2047		722,205
	800,000	Ukraine Government International Bond(h)		7.25	%		03/15/2035		194,537
TOTAL FOREIGN GOVERNMENT BONDS AND NOTES, SUPRANATIONALS AND FOREIGN AGENCIES
(Cost $6,554,838)									5,062,654
BANK LOANS - 1.42%(g)
Canada - 0.03%
	322,737	Bausch + Lomb Corp., First Lien		1M SOFR + 4.00	%		09/29/2028		323,140
Luxembourg - 0.10%
	1,201,201	Travelport Finance Luxembourg SARL 1L, 2021, First Lien  - Initial (Priority) Term Loan		3M SOFR + 8.11448%, 1.00% Floor			02/28/2025		1,165,832
Netherlands - 0.01%
	194,897	Bright Bidco BV, First Lien		3M SOFR + 9.00%, 1.00% Floor			10/31/2027		69,351
	5,736	Lealand Finance Company B.V., First Lien  - Make-Whole Term Loan		1M SOFR + 3.00%			06/28/2024		3,987
	78,437	Lealand Finance Company B.V., First Lien  - Take-Back Term Loan		3M US L + 1.00%			06/30/2025		32,813
									106,151
United Arab Emirates - 0.04%
	542,438	Gulf Finance, LLC TL 1L		1M SOFR + 6.75%			08/25/2026		543,794
United States - 1.24%
	34,789	Air Methods 10/23 DIP New Money		1M SOFR + 10.00%			02/24/2027		34,876
	561,558	Air Methods Corp., First Lien  - Initial Term Loan		3M US L + 3.50%, 1.00% Floor			04/22/2024		84,703
	80,451	Air Methods Corporation TLB 1L		6M US L + 0.00%			11/30/2028		80,451
	906,200	American Tire Distributors, Inc., First Lien  - Initial Term Loan		3M SOFR + 6.25%			10/08/2028		762,794
	965,000	Applied Systems, Inc., Second Lien  - 2021 Term Loan		3M SOFR + 6.75%, 0.75% Floor			09/19/2025		972,841
	452,470	Astra Acquisition Corp., First Lien  - Initial Term Loan		3M SOFR + 5.25%			10/22/2028		295,049

Principal Amount/Description			Rate	Maturity		Value
$	1,989,522	Astra Acquisition Corp., Second Lien  - Initial Term Loan	3M SOFR + 8.88%		10/22/2029	$	964,918
	295,000	Asurion LLC, Second Lien  - New B-3 Term Loan	1M SOFR + 5.25%		01/31/2028		281,970
	684,891	Atlas Purchaser, Inc., First Lien  - Initial Term Loan	3M US L + 3.00%, 0.75% Floor		05/18/2028		408,938
	538,805	Aveanna Healthcare LLC, Second Lien  - Initial Term Loan	3M SOFR + 7.00%, 0.50% Floor		12/10/2029		400,513
	200,000	Blackhawk Network Holdings, Inc., Second Lien	1M SOFR + 7.00%		06/15/2026		198,000
	500,000	Boxer Parent Company Inc. TL 1L	3M SOFR + 4.25%		12/02/2028		504,312
	720,300	Cengage Learning, Inc., First Lien - B Term Loan	3M US L + 5.00%		06/29/2026		723,495
	1,630,000	Constant Contact, Inc., Second Lien  - Initial Term Loan	3M SOFR + 7.50%, 0.75% Floor		02/12/2029		1,426,250
	905,000	DCert Buyer, Inc., Second Lien  - First Amendment Refinancing Term Loan	1M SOFR + 7.00%		02/19/2029		828,075
	760,000	DG Investment Intermediate Holdings 2, Inc., Second Lien  - Initial Term Loan	1M SOFR + 6.75%, 0.75% Floor		03/30/2029		689,065
	595,000	LifePoint Health, Inc., First Lien	3M CME TERM + 5.50%		11/16/2028		593,724
	407,263	LSF9 ATLANTIS HOLDINGS, LLC, First Lien  - B Term Loan	3M SOFR + 7.25%		03/29/2029		398,608
	813,234	Minotaur Acquisition, Inc., First Lien  - B Term Loan	1M SOFR + 4.75%		03/30/2026		814,466
	219,188	Olympus Water US Holding Corp, First Lien, First Lien	3M SOFR + 5.00%		11/08/2028		220,740
	420,072	Riverbed Technology LLC, TL	6M CME TERM + 2.50%		07/01/2028		289,849
	671,351	Think & Learn Private, Ltd., First Lien  - B Term Loan	PRIME + 7.00%		11/05/2026		245,604
	1,410,000	UKG, Inc. TL 2L	3M SOFR + 5.25%		05/03/2027		1,415,414
	550,013	Viad Corp, First Lien  - Initial Term Loan	3M US L + 5.00%, 0.50% Floor		07/30/2028		549,325
	867,379	WaterBridge Midstream Operating LLC, First Lien  - Initial Term Loan	3M SOFR + 5.75%, 1.00% Floor		06/22/2026		869,768
	900,197	Zephyrus Capital Aviation Tl	1M US L + 4.61%		10/15/2038		805,673
							14,859,421
TOTAL BANK LOANS
(Cost $19,980,686)							16,998,338
BUSINESS DEVELOPMENT COMPANIES - 0.11%
	1,292,347	Golub Capital BDC, Inc.	3.38%		04/15/2024		1,282,474
TOTAL BUSINESS DEVELOPMENT COMPANIES
(Cost $1,281,047)							1,282,474
COLLATERALIZED LOAN OBLIGATIONS - 5.20%
		AIMCO CLO
	500,000	Series 2018-AA(f)(g)	3M SOFR + 2.81%		04/17/2031	$	492,078
		Apidos CLO XII
	500,000	Series 2018-12A(f)(g)	3M SOFR + 2.86%		04/15/2031		490,227

Principal Amount/Description			Rate	Maturity		Value
		Apidos CLO XXIV
$	1,000,000	Series 2018-24A(f)(g)	3M SOFR + 6.06%		10/20/2030	$	945,944
		Babson CLO, Ltd.
	500,000	Series 2018-IA(f)(g)	3M SOFR + 2.86%		01/20/2031		490,191
		Bain Capital Credit CLO 2017-2, Ltd.
	500,000	Series 2021-2A(f)(g)	3M US L + 6.50%		07/25/2034		474,100
	1,000,000	Series 2021-2A(f)(g)	3M US L + 3.10%		07/25/2034		977,799
		Bain Capital Credit Clo 2019-4, Ltd.
	500,000	Series 2022-4A(f)(g)	3M SOFR + 3.63%		04/23/2035		483,396
		Bain Capital Credit CLO 2021-2, Ltd.
	500,000	Series 2021-2A(f)(g)	3M SOFR + 3.41%		07/16/2034		487,363
		Bain Capital Credit CLO 2022-3, Ltd.
	1,000,000	Series 2022-3A(f)(g)	3M SOFR + 7.35%		07/17/2035		955,083
		Bain Capital Credit CLO 2023-3, Ltd.
	500,000	Series 2023-3A(f)(g)	3M SOFR + 5.25%		07/24/2036		503,721
		Barings CLO, Ltd.
	500,000	Series 2018-4A(f)(g)	3M SOFR + 6.08%		10/15/2030		473,746
		Barings CLO, Ltd. 2018-III
	1,295,000	Series 2018-3A(f)(g)	3M SOFR + 6.01%		07/20/2029		1,247,444
		Barings CLO, Ltd. 2019-I
	1,500,000	Series 2021-1A(f)(g)	3M SOFR + 7.12%		04/15/2036		1,498,449
		Barings CLO, Ltd. 2019-II
	500,000	Series 2021-2A(f)(g)	3M US L + 3.41%		04/15/2036		493,150
		Beechwood Park CLO, Ltd.
	500,000	Series 2022-1A(f)(g)	3M SOFR + 6.50%		01/17/2035		488,470
		BlueMountain CLO, Ltd.
	500,000	Series 2018-3A(f)(g)	3M SOFR + 2.86%		04/20/2031		471,072
		BlueMountain Fuji US CLO II, Ltd.
	1,000,000	Series 2017-2A(f)(g)	3M SOFR + 3.26%		10/20/2030		941,632
		Buttermilk Park CLO, Ltd.
	1,000,000	Series 2018-1A(f)(g)	3M SOFR + 6.01%		10/15/2031		943,848
		Canyon Capital CLO 2016-2, Ltd.
	500,000	Series 2018-2A(f)(g)	3M SOFR + 3.41%		10/15/2031		489,061
		Canyon Capital CLO 2017-1, Ltd.
	500,000	Series 2021-1A(f)(g)	3M SOFR + 3.26%		07/15/2030		491,558
		Canyon Capital CLO 2019-1, Ltd.
	500,000	Series 2021-1A(f)(g)	3M US L + 7.09%		04/15/2032		475,258
		Canyon Capital CLO 2021-2, Ltd.
	1,250,000	Series 2021-2A(f)(g)	3M SOFR + 3.61%		04/15/2034		1,220,999
		Canyon Capital CLO, Ltd.
	1,000,000	Series 2018-1A(f)(g)	3M SOFR + 3.01%		01/30/2031		924,978
	1,500,000	Series 2018-1A(f)(g)	3M SOFR + 5.76%		01/30/2031		1,330,069
	1,000,000	Series 2018-1A(f)(g)	3M US L + 5.75%		07/15/2031		934,183
	500,000	Series 2018-1A(f)(g)	3M US L + 2.80%		07/15/2031		492,359
		Canyon CLO 2021-3, Ltd.
	1,000,000	Series 2021-3A(f)(g)	3M SOFR + 3.31%		07/15/2034		965,398
		Canyon CLO 2021-4, Ltd.
	1,000,000	Series 2021-4A(f)(g)	3M SOFR + 6.56%		10/15/2034		952,675
		Carlyle Global Market Strategies CLO 2016-3, Ltd.
	1,000,000	Series 2021-3A(f)(g)	3M US L + 3.30%		07/20/2034		979,312
		Carlyle Global Market Strategies CLO, Ltd.
	1,000,000	Series 2018-2RA(f)(g)	3M SOFR + 5.61%		05/15/2031		927,762
		Carlyle US CLO 2020-2, Ltd.
	2,000,000	Series 2021-2A(f)(g)	3M SOFR + 6.96%		01/25/2035		1,970,591

Principal Amount/Description			Rate	Maturity		Value
		Carlyle US CLO 2021-1, Ltd.
$	500,000	Series 2021-1A(f)(g)	3M SOFR + 6.26%		04/15/2034	$	491,584
		Chenango Park CLO, Ltd.
	500,000	Series 2018-1A(f)(g)	3M SOFR + 3.26%		04/15/2030		483,556
	1,000,000	Series 2018-1A(f)(g)	3M SOFR + 6.06%		04/15/2030		934,654
		Cook Park CLO, Ltd.
	500,000	Series 2018-1A(f)(g)	3M SOFR + 2.86%		04/17/2030		480,805
		Crown Point CLO IV, Ltd.
	500,000	Series 2018-4A(f)(g)	3M SOFR + 2.16%		04/20/2031		491,229
		Dryden 57 CLO, Ltd.
	500,000	Series 2018-57A(f)(g)	3M SOFR + 2.81%		05/15/2031		467,018
		Elevation CLO 2021-14, Ltd.
	500,000	Series 2021-14A(f)(g)	3M SOFR + 2.56%		10/20/2034		494,742
		Elmwood CLO IX, Ltd.
	500,000	Series 2021-2A(f)(g)	3M US L + 5.94%		07/20/2034		489,372
		Fillmore Park CLO, Ltd.
	500,000	Series 2018-1A(f)(g)	3M US L + 2.90%		07/15/2030		485,952
		Galaxy XIX CLO, Ltd.
	1,300,000	Series 2017-19A(f)(g)	3M SOFR + 6.79%		07/24/2030		1,226,513
		Gilbert Park CLO, Ltd.
	1,000,000	Series 2017-1A(f)(g)	3M SOFR + 6.66%		10/15/2030		959,580
		Goldentree Loan Management US CLO, Ltd.
	500,000	Series 2018-3A(f)(g)	3M SOFR + 3.11%		04/20/2030		493,562
		Katayma CLO I, Ltd.
	500,000	Series 2023-1A(f)(g)	3M CME TERM SOFR + 5.25%		10/20/2036		503,028
		Marble Point CLO XII, Ltd.
	500,000	Series 2018-1A(f)(g)	3M SOFR + 3.26%		07/16/2031		448,484
		Milos CLO, Ltd.
	500,000	Series 2020-1A(f)(g)	3M SOFR + 6.41%		10/20/2030		479,026
		Myers Park CLO, Ltd.
	1,000,000	Series 2018-1A(f)(g)	3M SOFR + 5.76%		10/20/2030		947,080
		Neuberger Berman Loan Advisers CLO 37, Ltd.
	500,000	Series 2021-37A(f)(g)	3M SOFR + 6.01%		07/20/2031		492,605
		Neuberger Berman Loan Advisers CLO 42, Ltd.
	500,000	Series 2021-42A(f)(g)	3M SOFR + 6.21%		07/16/2035		487,951
		Neuberger Berman Loan Advisers Clo 44, Ltd.
	1,000,000	Series 2021-44A(f)(g)	3M SOFR + 6.26%		10/16/2034		981,609
		Point Au Roche Park CLO, Ltd.
	500,000	Series 2021-1A(f)(g)	3M US L + 6.13%		07/20/2034		474,687
		Rockland Park CLO, Ltd.
	500,000	Series 2021-1A(f)(g)	3M US L + 6.25%		04/20/2034		495,381
		Sound Point CLO XXIII
	500,000	Series 2021-2A(f)(g)	3M SOFR + 3.56%		07/15/2034		481,944
		Sound Point CLO XXIV
	1,375,000	Series 2021-3A(f)(g)	3M SOFR + 6.98%		10/25/2034		1,034,400
		Sound Point CLO XXVI, Ltd.
	500,000	Series 2021-1A(f)(g)	3M US L + 3.35%		07/20/2034		465,850
		Sound Point CLO XXVIII, Ltd.
	1,000,000	Series 2020-3A(f)(g)	3M US L + 6.90%		01/25/2032		945,336
		Sound Point CLO XXXII, Ltd.
	500,000	Series 2021-4A(f)(g)	3M SOFR + 3.66%		10/25/2034		481,601
	500,000	Series 2021-4A(f)(g)	3M SOFR + 6.96%		10/25/2034		410,849
		Stewart Park CLO, Ltd.
	500,000	Series 2018-1A(f)(g)	3M SOFR + 2.86%		01/15/2030		473,852

Principal Amount/Description			Rate		Maturity		Value
		THL Credit Wind River 2017-1 CLO, Ltd.
$	1,400,000	Series 2021-1A(f)(g)		3M US L + 3.91%		04/18/2036	$	1,352,693
		THL Credit Wind River 2017-3 CLO, Ltd.
	500,000	Series 2021-3A(f)(g)		3M US L + 7.08%		04/15/2035		466,570
		THL Credit Wind River 2018-3 CLO, Ltd.
	2,000,000	Series 2018-3A(f)(g)		3M SOFR + 3.21%		01/20/2031		1,938,799
		THL Credit Wind River 2019-1 CLO, Ltd.
	1,150,000	Series 2021-1A(f)(g)		3M SOFR + 3.71%		07/20/2034		1,073,095
		THL Credit Wind River CLO, Ltd.
	500,000	Series 2018-1A(f)(g)		2.90% - 3M US L		07/15/2030		476,960
	2,000,000	Series 2018-1A(f)(g)		5.50% - 3M US L		07/15/2030		1,850,608
	1,000,000	Series 2018-1A(f)(g)		3M US L + 3.00%		07/18/2031		912,837
	1,000,000	Series 2018-2A(f)(g)		3M SOFR + 6.01%		07/15/2030		914,499
	1,000,000	Series 2018-3A(f)(g)		3M SOFR + 6.48%		10/22/2031		747,940
		Upland CLO, Ltd.
	500,000	Series 2018-1A(f)(g)		3M SOFR + 3.16%		04/20/2031		489,734
		Vibrant Clo III, Ltd.
	1,050,000	Series 2018-3A(f)(g)		3M SOFR + 3.76%		10/20/2031		987,846
		Voya CLO 2013-3, Ltd.
	700,000	Series 2018-3A(f)(g)		3M SOFR + 2.51%		10/18/2031		691,546
		Voya CLO 2017-2
	1,000,000	Series 2017-2A(f)(g)		3M SOFR + 6.28%		06/07/2030		920,292
		Voya CLO 2022-3, Ltd.
	1,000,000	Series 2023-3A(f)(g)		3M CME TERM SOFR + 4.50%		10/20/2036		988,849
		Voya CLO, Ltd.
	500,000	Series 2018-1A(f)(g)		3M SOFR + 3.06%		04/18/2031		476,909
	1,000,000	Series 2018-2A(f)(g)		3M SOFR + 3.01%		07/15/2031		977,233
	1,000,000	Series 2018-2A(f)(g)		3M SOFR + 5.51%		07/15/2031		906,571
	500,000	Series 2018-3A(f)(g)		3M SOFR + 6.46%		10/20/2031		409,697
	500,000	Series 2018-4A(f)(g)		3M SOFR + 6.21%		07/14/2031		370,658
		Webster Park CLO, Ltd.
	1,000,000	Series 2018-1A(f)(g)		5.50% - 3M US L		07/20/2030		939,463
		Wind River 2013-1 CLO, Ltd.
	500,000	Series 2017-1A(f)(g)		3M SOFR + 3.91%		07/20/2030		494,425
		Wind River 2014-3 CLO, Ltd.
	1,500,000	Series 2018-3A(f)(g)		3M SOFR + 3.66%		10/22/2031		1,375,554
		Wind River 2021-2 CLO, Ltd.
	500,000	Series 2021-2A(f)(g)		3M SOFR + 6.69%		07/20/2034		453,764
TOTAL COLLATERALIZED LOAN OBLIGATIONS
(Cost $64,937,356)								62,330,708
EQUITY - LINKED NOTES - 0.00%(l)
	263,093	Inverpamplona SA(b)(c)(k)		0.00%		12/30/2028		–
TOTAL EQUITY - LINKED NOTES
(Cost $11,250)								–
NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS - 17.49%
		Aaset 2021-2 Trust
	407,046	Series 2021-2A(f)		3.54%		12/15/2028		331,124
		ABFC Trust
	2,507,329	Series 2007-WMC1(g)		1M SOFR + 1.36%		06/25/2037		1,770,127
		Alen Mortgage Trust
	1,107,000	Series 2021-ACEN(f)(g)		1M SOFR + 4.11%		04/15/2026		505,820

Principal Amount/Description			Rate		Maturity		Value
		AMSR
$	5,100,000	Series 2020-SFR3(f)		4.99%		09/17/2025	$	4,849,152
	5,000,000	Series 2021-SFR1(f)(g)		4.61%		06/17/2028		4,208,791
		AREIT Trust
	1,265,000	Series 2019-CRE3(f)(g)		30D SOFR + 2.76%		09/16/2036		1,138,115
		BAMLL Commercial Mortgage Securities Trust
	1,000,000	Series 2018-DSNY(f)(g)		1M SOFR + 1.40%		09/15/2034		994,340
	683,000	Series 2019-AHT(f)(g)		2.57%		03/15/2034		668,557
		BANK
	200,000	Series 2017-BNK5(g)		4.19%		06/15/2027		166,621
	10,291,000	Series 2018-BN12(f)(g)(n)		1.50%		05/15/2061		519,893
	660,000	Series 2022-BNK39		3.18%		01/15/2032		545,180
	165,000	Series 2022-BNK39(f)		2.50%		01/15/2032		81,754
		BANK 2019-BNK23
	330,000	Series 2019-BN23		2.92%		12/15/2052		292,604
		BANK 2020-BNK27
	16,875,000	Series 2020-BN27(f)(g)(n)		0.72%		04/15/2030		634,517
		BANK 2021-BNK35
	316,000	Series 2021-BN35		2.29%		07/15/2031		262,470
		BANK 2021-BNK37
	381,000	Series 2021-BN37(g)		3.11%		11/15/2031		257,131
		Bank of America Merrill Lynch Commercial Mortgage Trust 2016-UBS10
	1,090,000	Series 2016-UB10(g)		4.83%		05/15/2026		948,009
		BBCMS Mortgage Trust
	519,000	Series 2022-C17		4.44%		08/15/2032		499,504
		BBCMS Trust
	3,000,000	Series 2018-CBM(f)(g)		1M SOFR + 3.85%		07/15/2037		2,748,761
		Benchmark Mortgage Trust
	9,374,080	Series 2018-B2(g)(n)		0.45%		01/15/2028		122,457
	600,000	Series 2018-B2(g)		4.29%		01/15/2028		466,727
	20,246,375	Series 2018-B4(g)(n)		0.46%		06/15/2028		301,171
	1,589,000	Series 2018-B4(f)(g)		2.75%		07/17/2051		1,034,545
	1,130,000	Series 2019-B9(g)		4.97%		01/15/2029		847,365
	522,000	Series 2020-B18(f)		4.14%		08/15/2025		462,807
	310,000	Series 2020-B19		1.69%		09/15/2025		284,046
	1,510,000	Series 2021-B31(f)		2.25%		11/15/2031		546,121
	592,000	Series 2022-B32(g)		3.41%		01/15/2032		472,480
		BF Mortgage Trust
	705,000	Series 2019-NYT(f)(g)		1M SOFR + 3.05%		12/15/2035		360,877
		Blackbird Capital II Aircraft Lease, Ltd.
	1,167,188	Series 2021-1A(f)		3.45%		07/15/2028		998,681
		BMO Mortgage Trust
	7,951,000	Series 2022-C1(f)(g)(n)		1.76%		02/15/2032		873,513
	275,021	Series 2023-C5		5.74%		02/15/2028		276,539
		BX Commercial Mortgage Trust
	1,000,000	Series 2019-IMC(f)(g)		1M SOFR + 2.01%		04/15/2034		987,078
		BX Trust
	636,000	Series 2019-OC11(f)(g)		3.94%		12/09/2029		555,523
	2,964,000	Series 2019-OC11(f)(g)		3.94%		12/06/2041		2,519,437
	900,000	Series 2021-VIEW(f)(g)		1M SOFR + 4.044%		06/15/2036		806,010
		Cantor Commercial Real Estate Lending
	1,113,000	Series 2019-CF1(f)(g)		4.12%		04/15/2024		680,972

Principal Amount/Description			Rate		Maturity		Value
		Carbon Capital VI Commercial Mortgage Trust
$	359,976	Series 2019-FL2(f)(g)		1M SOFR + 2.96%		10/15/2035	$	319,419
		Carvana Auto Receivables Trust
	5,300	Series 2021-N1(f)		0.00%		01/10/2028		634,385
	5,250	Series 2021-N2(f)		0.00%		03/10/2028		479,927
		Cascade MH Asset Trust
	4,601,000	Series 2019-MH1(f)(g)		5.99%		10/25/2024		4,410,747
		Castlelake Aircraft Securitization Trust
	3,216,222	Series 2018-1(f)		6.63%		06/15/2043		1,000,110
		Castlelake Aircraft Structured Trust
	2,750,000	Series 2019-1A(f)		0.00%		04/15/2039		61,875
		Cathedral Lake VIII, Ltd.
	1,000,000	Series 2021-8A(f)(g)		3M SOFR + 2.88%		01/20/2035		997,169
	1,000,000	Series 2021-8A(f)(g)		3M SOFR + 3.68%		01/20/2035		972,660
		CD Mortgage Trust
	750,000	Series 2017-CD4(g)		4.35%		04/10/2027		554,099
		CFCRE Commercial Mortgage Trust
	432,966	Series 2016-C6		2.95%		08/10/2026		410,206
	3,193,168	CGCMT 2014-GC25 XA				10/10/2047		10,014
		CIFC Funding 2019-III, Ltd.
	650,000	Series 2021-3A(f)(g)		3M SOFR + 7.06%		10/16/2034		653,515
		CIFC Funding, Ltd.
	850,000	Series 2021-1A(f)(g)		3M SOFR + 6.26%		04/25/2033		838,211
	500,000	Series 2021-4A(f)(g)		3M US L + 5.95%		07/15/2033		491,333
		Citigroup Commercial Mortgage Trust
	866,000	Series 2015-GC27(f)(g)		4.42%		02/12/2048		726,333
	400,000	Series 2015-GC31(g)		4.05%		06/10/2025		316,687
	344,000	Series 2016-GC36(f)		2.85%		02/12/2049		137,554
	464,000	Series 2017-C4(g)		4.10%		10/12/2027		409,420
	225,000	Series 2019-GC41		3.20%		08/10/2029		180,490
	1,000,000	Series 2019-SMRT(f)(g)		4.75%		01/10/2036		998,323
	1,433,000	Series 2020-555(f)(g)		3.50%		12/12/2041		959,302
	546,000	Series 2022-GC48(g)		4.58%		05/15/2032		533,280
		Citigroup Mortgage Loan Trust
	603,797	Series 2006-WF1(m)		4.57%		03/25/2036		292,423
		Cologix Data Centers US Issuer LLC
	2,800,000	Series 2021-1A(f)		5.99%		12/28/2026		2,336,981
	2,581,503	COMM 2015-CR22 XA				03/10/2048		15,953
		Commercial Mortgage Pass-Through Certificates
	8,410,265	Series 2014-UBS4(f)		3.75%		08/10/2024		437,581
	11,000	Series 2014-UBS4(f)(g)		0.00%		08/10/2047		1
	4,068,521	Series 2015-CR26(g)(n)		0.93%		09/10/2025		44,242
		CSAB Mortgage-Backed Trust
	8,781,274	Series 2006-2(m)		6.20%		09/25/2036		664,463
	120,200	Series 2007-1(g)		5.90%		05/25/2037		29,150
	4,843,415	CSAIL 2015-C1 XA				04/15/2050		21,145
		CSAIL Commercial Mortgage Trust
	490,000	Series 2016-C6(g)		4.92%		04/15/2026		417,234
	1,362,000	Series 2016-C6(f)(g)		4.92%		01/15/2049		872,852
		CSMC
	832,000	Series 2021-B33(f)(g)		3.65%		10/10/2031		595,180
		DBJPM 16-C1 Mortgage Trust
	1,309,000	Series 2016-C1(g)		3.33%		05/12/2049		1,112,663

Principal Amount/Description			Rate		Maturity		Value
		Diamond Infrastructure Funding LLC
$	2,000,000	Series 2021-1A(f)		3.48%		12/20/2026	$	1,734,916
		DOLP Trust
	1,000,000	Series 2021-NYC(f)(g)		3.70%		05/10/2031		655,419
		Dryden 38 Senior Loan Fund
	1,000,000	Series 2018-38A(f)(g)		3M SOFR + 5.86%		07/15/2030		904,849
		Dryden 40 Senior Loan Fund
	1,000,000	Series 2018-40A(f)(g)		3M SOFR + 6.01%		08/15/2031		873,348
	500,000	Series 2018-40A(f)(g)		3M SOFR + 3.36%		08/15/2031		495,042
		Dryden 42 Senior Loan Fund
	500,000	Series 2018-42A(f)(g)		3M SOFR + 3.19%		07/15/2030		485,230
		Fannie Mae-Aces
	22,745,652	Series 2019-M12(g)(n)		0.56%		06/25/2029		368,987
	14,063,698	Series 2019-M24(g)(n)		1.15%		03/25/2031		796,074
	37,657,758	Series 2019-M7(g)(n)		0.35%		04/25/2029		482,400
	27,974,201	Series 2020-M10(g)(n)		0.82%		12/25/2027		432,996
	47,507,941	Series 2020-M10(g)(n)		0.87%		07/25/2032		2,093,884
	13,264,135	Series 2020-M13(g)(n)		1.30%		09/25/2030		612,731
	349,000,953	Series 2021-M17(g)(n)		0.10%		07/25/2031		1,559,929
		FirstKey Homes
	1,100,000	Series 2020-SFR1(f)		4.28%		08/19/2037		1,045,100
	2,681,998	Series 2022-SFR1(f)		4.15%		05/17/2027		2,577,128
		FMC GMSR Issuer Trust
	6,000,000	Series 2021-GT1(f)(g)		4.36%		07/25/2026		4,847,884
	5,000,000	Series 2021-GT2(f)(g)		4.44%		10/25/2026		4,028,290
	43,024,557	FNA 2021-M23 X1				11/01/2031		851,254
		Fontainebleau Miami Beach Trust
	1,656,000	Series 2019-FBLU(f)(g)		3.96%		12/12/2036		1,560,775
		FREMF Mortgage Trust
	890,367	Series 2015-KF07(f)(g)		30D US SOFR + 5.06%		02/25/2025		880,745
	753,730	Series 2018-KF56(f)(g)		30D US SOFR + 5.91%		11/25/2028		651,956
	1,497,450	Series 2019-KF71(f)(g)		30D US SOFR + 6.11%		10/25/2029		1,427,222
		FRTKL
	4,050,000	Series 2021-SFR1(f)		4.11%		09/17/2026		3,535,230
		Ginnie Mae Strip
	7,127,986	Series 2020-3(n)		1.40%		09/16/2045		535,533
		Great Wolf Trust
	2,500,000	Series 2019-WOLF(f)(g)		1M US L + 3.13%		12/15/2036		2,457,020
		GS Mortgage Securities Corp. Trust
	1,000,000	Series 2018-RIVR(f)(g)		1M SOFR + 1.85%		07/15/2035		375,738
	1,111,000	Series 2021-ARDN(f)(g)		1M SOFR + 6.048%		11/15/2026		1,032,638
		GS Mortgage Securities Trust
	250,214	Series 2011-GC5(f)(g)(n)		1.95%		08/10/2044		1
	2,417,000	Series 2014-GC26(f)(g)		4.51%		11/10/2047		1,729,720
	1,110,000	Series 2015-GC28(f)(g)		4.31%		02/10/2048		983,180
	6,832,006	Series 2015-GS1(g)(n)		0.77%		11/10/2025		76,929
	828,000	Series 2018-GS10(g)		4.37%		07/10/2028		694,450
	1,954,000	Series 2018-TWR(f)(g)		1M US L + 3.92%		07/15/2031		143,671
	636,000	Series 2020-GC45(g)		3.41%		12/13/2029		517,230
		GSAA Home Equity Trust
	1,850,268	Series 2006-13(g)		6.04%		07/25/2036		566,070
	444,419	Series 2006-18(m)		6.18%		11/25/2036		103,963
	138,504	Series 2006-6(g)		5.69%		03/25/2036		40,371
	796,852	Series 2007-2(m)		6.60%		03/25/2037		189,930

Principal Amount/Description			Rate		Maturity		Value
		GSCG Trust
$	675,000	Series 2019-600C(f)(g)		3.99%		09/06/2024	$	7,112
		Hardee's Funding LLC
	947,500	Series 2018-1A(f)		5.71%		06/20/2028		883,261
		Highbridge Loan Management 4-2014, Ltd.
	500,000	Series 2018-2014(f)(g)		3M SOFR + 5.81%		01/28/2030		472,991
		Hilton USA Trust
	900,000	Series 2016-SFP(f)		2.83%		11/05/2035		723,265
		HSI Asset Securitization Corp. Trust
	5,514,009	Series 2006-HE1(g)		1M SOFR + 0.39%		10/25/2036		1,815,728
	1,215,812	Series 2007-NC1(g)		1M SOFR + 0.29%		04/25/2037		757,526
		IMT Trust
	700,000	Series 2017-APTS(f)(g)		3.50%		06/15/2024		684,838
		ITE Rail Fund Levered LP
	671,618	Series 2021-3A(f)		2.21%		06/28/2027		596,676
		J.P. Morgan Chase Commercial Mortgage Securities Trust
	2,092,000	Series 2018-AON(f)(g)		4.61%		07/05/2031		529,327
		JP Morgan BB Commercial Mortgage Securities Trust
	2,086,000	Series 2014-C23(f)(g)		3.36%		11/18/2048		1,761,419
	3,787,571	Series 2015-C28(g)(n)		0.92%		03/15/2025		31,061
	7,149,462	Series 2015-C30(g)(n)		0.42%		07/15/2025		36,688
	2,692,607	Series 2015-C31(g)(n)		0.81%		08/15/2025		27,950
		JP Morgan Chase Commercial Mortgage Securities Trust
	1,157,000	Series 2011-C3(f)(g)		5.53%		02/15/2046		456,764
	1,010,000	Series 2018-WPT(f)(g)		5.36%		07/05/2033		584,026
	235,000	Series 2019-UES(f)		4.34%		05/05/2032		229,826
	1,135,000	Series 2019-UES(f)(g)		4.45%		05/05/2032		1,099,977
		JP Morgan Mortgage Acquisition Corp.
	171,159	Series 2006-CH2(m)		5.46%		09/25/2029		104,334
		JP Morgan Mortgage Acquisition Trust
	3,375,925	Series 2006-RM1(g)		1M SOFR + 0.59%		08/25/2036		1,502,626
		JPMBB Commercial Mortgage Securities Trust
	16,173,171	Series 2014-C24(g)(n)		0.82%		09/17/2047		46,651
	1,110,000	Series 2014-C26(f)(g)		3.87%		12/15/2024		903,266
	519,000	Series 2015-C27(g)		4.30%		02/15/2025		400,588
		JPMCC Commercial Mortgage Securities Trust
	486,000	Series 2017-JP7(g)		3.70%		07/15/2027		383,051
		Kestrel Aircraft Funding, Ltd.
	329,123	Series 2018-1A(f)		4.25%		10/15/2025		293,253
		Laurel Road Prime Student Loan Trust
	14,853,791	Series 2020-A(f)		0.00%		11/25/2050		1,267,504
		LCM 28, Ltd.
	1,000,000	Series 2018-28A(f)(g)		3M SOFR + 6.01%		10/20/2030		780,864
		LCM Loan Income Fund I Income Note Issuer, Ltd.
	500,000	Series 2018-27A(f)(g)		3M SOFR + 5.86%		07/16/2031		378,807
		LCM XIV LP
	1,000,000	Series 2018-14A(f)(g)		3M SOFR + 3.01%		07/20/2031		899,972
	750,000	Series 2018-14A(f)(g)		3M SOFR + 5.76%		07/20/2031		513,008
		LCM XVII LP
	1,000,000	Series 2018-17A(f)(g)		3M SOFR + 6.26%		10/15/2031		725,341

Principal Amount/Description			Rate		Maturity		Value
		LCM XX LP
$	1,000,000	Series 2018-20A(f)(g)		3M SOFR + 5.71%		10/20/2027	$	995,574
		LoanCore Issuer, Ltd.
	375,000	Series 2021-CRE5(f)(g)		1M CME TERM SOFR + 2.46448%		07/15/2036		355,517
		LSTAR Commercial Mortgage Trust
	1,150,000	Series 2017-5(f)(g)		4.67%		03/10/2027		758,536
		MACH 1 Cayman, Ltd.
	848,043	Series 2019-1(f)		3.47%		08/15/2026		742,809
		Madison Park Funding XLV, Ltd.
	600,000	Series 2021-45A(f)(g)		3M SOFR + 6.61%		07/15/2034		602,336
		Madison Park Funding XXXVIII, Ltd.
	1,000,000	Series 2021-38A(f)(g)		3M SOFR + 6.26%		07/17/2034		977,966
		Master Asset Backed Securities Trust
	3,914,530	Series 2006-NC3(g)		1M US L + 0.21%		10/25/2036		1,951,484
		Merrill Lynch Mortgage Investors Trust
	9,960,923	Series 2006-RM3(g)		1M SOFR + 0.59%		06/25/2037		2,180,313
		MetroNet Infrastructure Issuer LLC
	1,000,000	Series 2023-1A(f)		8.01%		02/20/2028		999,579
		MFT Trust
	2,010,000	Series 2020-ABC(f)(g)		3.48%		02/10/2030		691,544
		Morgan Stanley Bank of America Merrill Lynch Trust
	822,000	Series 2015-C21(g)		4.13%		02/15/2025		633,145
	1,292,000	Series 2016-C31(f)(g)		3.00%		10/15/2026		795,379
	1,100,000	Series 2017-C34(f)		2.70%		10/15/2027		677,435
		Morgan Stanley Capital I Trust
	1,070,004	Series 2016-UB11 XA(g)(n)		1.44%		08/15/2026		31,333
	765,000	Series 2018-H4(f)		3.00%		12/15/2028		507,253
	1,117,000	Series 2018-L1(g)		4.78%		10/15/2028		904,842
	750,000	Series 2019-H7		4.13%		07/15/2029		593,519
	826,000	Series 2021-L6(g)		3.46%		07/15/2031		567,960
	10,249,000	Series 2021-L7(f)(g)(n)		0.92%		10/15/2031		614,551
		Morgan Stanley Mortgage Loan Trust
	328,361	Series 2007-3XS(m)		6.20%		01/25/2047		121,083
		Mosaic Solar Loan Trust
	53,402	Series 2017-1A(f)		4.45%		06/20/2042		50,340
	231,307	Series 2018-1A(f)		4.01%		08/20/2030		214,599
	381,877	Series 2020-2A(f)		3.00%		06/20/2025		347,120
		MVW 2021-1W LLC
	469,215	Series 2021-1WA(f)		1.94%		01/22/2041		430,137
	544,290	Series 2021-1WA(f)		3.17%		01/22/2041		493,935
		Navient Private Education Refi Loan Trust
	452,068	Series 2018-A(f)		3.68%		11/17/2025		431,109
		NJ Trust
	275,000	Series 2023-GSP(f)(g)		6.70%		01/06/2029		287,239
		Octagon Investment Partners 20-R, Ltd.
	1,500,000	Series 2019-4A(f)(g)		3M SOFR + 7.06%		05/12/2031		1,442,137
		Octagon Investment Partners 26, Ltd.
	1,000,000	Series 2018-1A(f)(g)		3M SOFR + 8.35%		07/15/2030		739,216

Principal Amount/Description			Rate		Maturity		Value
		Octagon Investment Partners 29, Ltd.
$	500,000	Series 2020-1A(f)(g)		3M SOFR + 3.36%		01/24/2033	$	487,211
	2,000,000	Series 2020-1A(f)(g)		3M SOFR + 7.51%		01/24/2033		1,870,587
		Octagon Investment Partners 37, Ltd.
	500,000	Series 2018-2A(f)(g)		3M US L + 2.85%		07/25/2030		483,583
		Octagon Investment Partners 40, Ltd.
	500,000	Series 2021-1A(f)(g)		3M SOFR + 7.26%		01/20/2035		458,867
		Octagon Investment Partners 42, Ltd.
	1,000,000	Series 2021-3A(f)(g)		3M SOFR + 7.01%		07/15/2034		981,044
		Octagon Investment Partners 46, Ltd.
	1,000,000	Series 2021-2A(f)(g)		3M SOFR + 6.86%		07/15/2036		896,336
		Octagon Investment Partners 49, Ltd.
	625,000	Series 2021-5A(f)(g)		3M US L + 6.75%		01/15/2033		608,709
		Octagon Investment Partners XVI, Ltd.
	500,000	Series 2018-1A(f)(g)		3M US L + 3.00%		07/17/2030		482,500
	1,000,000	Series 2018-1A(f)(g)		3M US L + 5.75%		07/17/2030		901,150
		Octagon Investment Partners XXI, Ltd.
	1,000,000	Series 2019-1A(f)(g)		3M SOFR + 7.26%		02/14/2031		961,051
		Octagon Investment Partners XXII, Ltd.
	970,000	Series 2018-1A(f)(g)		3M SOFR + 2.16%		01/22/2030		967,572
	500,000	Series 2018-1A(f)(g)		3M SOFR + 5.71%		01/22/2030		464,691
		OHA Credit Funding 3, Ltd.
	2,000,000	Series 2021-3A(f)(g)		3M SOFR + 6.51%		07/02/2035		2,020,429
		OHA Credit Funding 5, Ltd.
	2,000,000	Series 2020-5A(f)(g)		3M SOFR + 6.51%		04/18/2033		1,997,477
		Pagaya AI Debt Selection Trust
	360,560	Series 2020-3(f)		6.43%		05/17/2027		359,991
	270,342	Series 2021-2(f)		3.00%		01/25/2029		263,237
	2,000,000	Series 2021-5(f)		0.00%		08/15/2029		186,428
		Pagaya AI Debt Trust
	1,250,000	Series 2023-5(f)		9.10%		04/15/2031		1,276,274
		PAGAYA AI Debt Trust
	587,213	Series 2022-2(f)(g)		5.47%		01/15/2030		583,706
		People's Choice Home Loan Securities Trust
	5,000,000	Series 2005-4(g)		1M US L + 0.65%		12/25/2035		3,117,741
		Progress Residential
	2,500,000	Series 2021-SFR3(f)		4.75%		05/17/2026		2,247,475
		Progress Residential
	6,900,000	Series 2021-SFR8(f)		4.01%		10/17/2026		6,026,837
		Retained Vantage Data Centers Issuer LLC
	2,500,000	Series 2023-1A(f)		5.75%		09/15/2028		2,321,145
		RR 2, Ltd.
	1,000,000	Series 2021-2A(f)(g)		3M SOFR + 6.06%		04/15/2036		956,186
		RR 6, Ltd.
	1,000,000	Series 2021-6A(f)(g)		3M SOFR + 6.11%		04/15/2036		934,100
		Sapphire Aviation Finance I, Ltd.
	2,144,720	Series 2018-1A(f)		5.93%		03/15/2025		1,090,708
		Sapphire Aviation Finance II, Ltd.
	332,692	Series 2020-1A(f)		3.23%		03/15/2027		292,202

Principal Amount/Description			Rate		Maturity		Value
		Signal Rail I LLC
$	455,662	Series 2021-1(f)		2.23%		08/17/2028	$	393,653
		SLG Office Trust
	1,100,000	Series 2021-OVA(f)		2.85%		07/15/2031		808,914
		SMB Private Education Loan Trust
	158,542	Series 2018-B(f)(g)		1M SOFR + 0.83%		08/15/2027		157,010
	968	Series 2021-A(f)		0.00%		01/15/2053		2,652,465
		SMR Mortgage Trust
	927,725	Series 2022-IND(f)(g)		1M SOFR + 7.50%		02/15/2024		777,969
		Sofi Alternative Consumer Loan Program
	50,000	Series 2021-2(f)		0.00%		08/15/2030		531,033
		Sofi Professional Loan Program Trust
	80,000	Series 2018-C(f)		0.00%		01/25/2048		703,918
		Sofi Professional Loan Program, LLC
	32,412	Series 2018-A(f)		0.00%		02/25/2042		362,785
		SoFi Professional Loan Program, LLC
	300,000	Series 2017-D(f)		3.61%		09/25/2040		274,555
		Sprite, Ltd.
	378,102	Series 2021-1(f)		3.75%		10/15/2028		347,540
		Start, Ltd.
	456,579	Series 2018-1(f)		4.09%		05/15/2025		415,809
		Sunnova Helios VII Issuer LLC
	1,072,812	Series 2021-C(f)		2.63%		10/20/2028		836,035
		Sunnova Sol III Issuer LLC
	1,285,145	Series 2021-1(f)		2.58%		04/30/2031		1,051,179
		Sunnova Sol Issuer LLC
	881,544	Series 2020-1A(f)		3.35%		01/30/2030		771,002
		Thunderbolt Aircraft Lease, Ltd.
	1,059,641	Series 2017-A(f)(m)		4.21%		04/15/2024		1,009,522
		Thunderbolt II Aircraft Lease, Ltd.
	4,464,286	Series 2018-A(f)(m)		5.07%		09/15/2038		3,044,638
		TIF Funding II LLC
	307,750	Series 2021-1A(f)		1.65%		02/20/2046		264,760
		Tricon Residential
	3,700,000	Series 2021-SFR1(f)		4.13%		07/17/2026		3,311,502
		Trimaran Cavu 2019-1, Ltd.
	1,700,000	Series 2019-1A(f)(g)		3M SOFR + 4.41%		07/20/2032		1,691,605
		TRTX Issuer, Ltd.
	337,426	Series 2021-FL4(f)(g)		1M SOFR + 1.31%		03/15/2038		333,942
		UBS Commercial Mortgage Trust
	31,908,500	Series 2017-C3(g)(n)		0.43%		08/15/2050		481,151
	650,000	Series 2017-C4(g)		4.24%		09/15/2027		583,993
	520,000	Series 2018-C10(g)		5.05%		05/15/2028		424,781
	1,099,000	Series 2018-C8(g)		4.68%		02/15/2028		915,298
	928,000	Series 2018-C9(g)		4.95%		03/15/2028		577,904
		UBS-Barclays Commercial Mortgage Trust
	1,993,000	Series 2013-C5(f)(g)		4.08%		03/12/2046		1,376,182
		Upstart Pass-Through Trust
	79,777	Series 2021-ST1(f)		2.75%		02/20/2027		78,305
	182,197	Series 2021-ST2(f)		2.50%		04/20/2027		176,609
		Upstart Securitization Trust
	2,000	Series 2021-2		0.00%		06/20/2031		102,357
		US Auto Funding 2021-1
	1,068,326	Series 2021-1A(f)		2.20%		05/15/2026		974,413

Principal Amount/Description			Rate		Maturity		Value
		Vault DI Issuer LLC
$	750,000	Series 2021-1A(f)		2.80%		07/15/2026	$	657,586
		Velocity Commercial Capital Loan Trust
	221,645	Series 2018-2(f)(g)		4.05%		09/25/2024		212,617
	467,824	Series 2019-1(f)(g)		3.94%		01/25/2027		415,858
	229,018	Series 2019-1(f)(g)		4.01%		07/25/2027		197,437
	184,186	Series 2019-1(f)(g)		4.12%		11/25/2027		150,035
	1,406,099	Series 2021-2(f)(g)		4.92%		12/25/2030		991,212
		VOLT XCVI LLC
	4,000,000	Series 2021-NPL5(f)(m)		4.83%		03/27/2051		3,518,408
		Wachovia Bank Commercial Mortgage Trust
	972	Series 2006-C29(g)(n)		0.29%		11/15/2048		15
		WAVE LLC
	1,191,535	Series 2019-1(f)		7.00%		09/15/2044		163,874
		Wells Fargo Commercial Mortgage Trust
	1,245,000	Series 2015-NXS4(g)		3.69%		11/15/2025		1,063,294
	1,000,000	Series 2016-C33(f)		3.12%		03/15/2059		723,008
	5,628,945	Series 2016-C37(f)(g)(n)		1.60%		12/15/2049		202,410
	356,000	Series 2016-NXS6		3.81%		11/15/2049		320,744
	1,100,000	Series 2018-C45		4.73%		06/15/2028		971,220
	134,000	Series 2020-C55		3.14%		02/15/2030		105,257
	830,000	Series 2021-C61		3.31%		07/15/2031		563,687
		WFRBS Commercial Mortgage Trust
	239,977	Series 2013-C14		3.49%		06/15/2046		220,221
		WF-RBS Commercial Mortgage Trust
	2,679,912	Series 2014-C21(g)(n)		0.99%		08/15/2047		12,894
	3,423,995	Series 2014-C22(g)(n)		0.76%		09/15/2057		10,030
		Willis Engine Structured Trust V
	795,402	Series 2020-A(f)		3.23%		03/15/2028		712,523
		Willis Engine Structured Trust VI
	1,981,714	Series 2021-A(f)		7.39%		05/15/2046		1,630,994
TOTAL NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS
(Cost $270,536,764)								209,848,659
U.S. GOVERNMENT BONDS AND NOTES - 11.78%
	22,010,000	U.S. Treasury Bonds		4.50%		11/15/2033		23,113,939
	42,800,000	U.S. Treasury Bonds		4.75%		11/15/2043		45,923,063
	47,350,000	U.S. Treasury Bonds		4.75%		11/15/2053		53,109,683
	350,000	U.S. Treasury Notes		4.88%		11/30/2025		353,650
	305,000	U.S. Treasury Notes		4.63%		10/15/2026		309,563
	500,000	U.S. Treasury Notes		4.63%		11/15/2026		507,969
	275,000	U.S. Treasury Notes		4.63%		09/30/2028		283,895
	340,000	U.S. Treasury Notes		4.38%		11/30/2028		347,969
	17,000,000	U.S. Treasury Notes		3.75%		12/31/2028		16,924,297
	270,000	U.S. Treasury Notes		3.75%		06/30/2030		267,637
	190,000	U.S. Treasury Notes		4.63%		09/30/2030		198,112
TOTAL U.S. GOVERNMENT BONDS AND NOTES
(Cost $126,250,706)								141,339,777
MORTGAGE-BACKED SECURITIES - 2.54%
		Fannie Mae Pool
	2,968,307	Series 2021-		2.50%		08/01/2051		2,557,932
	2,631,480	Series 2023-		2.50%		03/01/2052		2,262,878

Principal Amount/Description			Rate		Maturity		Value
$	2,549,092	Series 2023-		2.50%		04/01/2052	$	2,183,874
	1,393,954	Series 2023-		6.00%		05/01/2053		1,423,070
	2,136,867	Series 2023-		6.00%		10/01/2053		2,183,716
		Freddie Mac Pool
	2,312,132	Series 2022-		4.50%		09/01/2052		2,242,879
	972,062	Series 2023-		2.00%		02/01/2052		810,364
	1,593,159	Series 2023-		5.00%		05/01/2053		1,584,910
	2,159,485	Series 2023-		5.00%		06/01/2053		2,172,762
	1,965,170	Series 2023-		5.00%		07/01/2053		1,958,866
	3,632,096	Series 2023-		5.50%		08/01/2053		3,674,559
		Ginnie Mae I Pool
	3,022,230	Series 2012-		3.50%		09/15/2042		2,855,743
		Ginnie Mae II Pool
	2,781,740	Series 2021-		3.00%		11/20/2051		2,504,254
	2,286,643	Series 2022-		3.00%		04/20/2052		2,058,701
TOTAL MORTGAGE-BACKED SECURITIES
(Cost $29,901,724)								30,474,508
MUNICIPAL BONDS - 0.02%
	165,000	State of California, General Obligation Bonds		7.55%		04/01/2039		208,737
TOTAL MUNICIPAL BONDS
(Cost $230,118)								208,737
U.S. GOVERNMENT / AGENCY MORTGAGE BACKED SECURITIES - 17.98%
		Adjustable Rate Mortgage Trust
	1,919,446	Series 2005-10(g)		5.42%		01/25/2036		1,387,566
		Alternative Loan Trust
	123,705	Series 2005-20CB		5.50%		07/25/2035		99,761
	57,336	Series 2005-54CB		5.50%		11/25/2035		32,899
	603,373	Series 2005-85CB(g)		1M US L + 1.10%		02/25/2036		461,172
	127,423	Series 2005-85CB(g)		21.63% - 3.67 x 1M US L		02/25/2036		103,796
	177,236	Series 2005-86CB		5.50%		02/25/2036		103,959
	136,045	Series 2005-9CB(g)		1M US L + 0.50%		05/25/2035		114,532
	246,287	Series 2005-9CB(g)(n)		5.05% - 1M US L		05/25/2035		7,668
	1,020,875	Series 2006-15CB		6.50%		06/25/2036		487,319
	98,627	Series 2006-30T1		6.25%		11/25/2036		74,663
	94,168	Series 2006-32CB		5.50%		11/25/2036		52,258
	220,320	Series 2006-36T2(g)		28.06% - 4.6 x 1M US L		12/25/2036		164,989
	806,404	Series 2007-19		6.00%		08/25/2037		418,328
	2,686,925	Series 2007-20		6.25%		08/25/2047		1,371,664
	752,734	Series 2007-23CB(g)		1M US L + 0.50%		09/25/2037		302,361
	718,735	Series 2007-23CB(g)(n)		6.39% - 1M SOFR		09/25/2037		108,645
		American Home Mortgage Investment Trust
	157,985	Series 2007-A(f)(m)		6.60%		01/25/2037		24,507
		Banc of America Funding
	1,559,545	Series 2014-R8(f)(g)		1M SOFR + 0.35%		12/26/2024		1,273,648
		Banc of America Funding Trust
	27,365	Series 2006-2		5.50%		03/25/2036		26,413
		BCAP, LLC Trust
	96,245	Series 2007-AA2(g)		7.50%		04/25/2037		54,097
	62,444	Series 2007-AA2		6.00%		04/25/2037		28,968
	4,736,118	Series 2010-RR6(f)(g)		4.51%		07/26/2036		2,245,671
		Bear Stearns ALT-A Trust
	732,934	Series 2006-6(g)		4.20%		11/25/2036		328,122

Principal Amount/Description			Rate		Maturity		Value
		Bear Stearns Asset-Backed Securities Trust
$	1,151,444	Series 2006-AC1(m)		6.25%		02/25/2036	$	536,473
		Bear Stearns Structured Products, Inc.
	7,018,856	Series 2008-R2(f)(g)		3.91%		06/25/2047		5,491,546
		Chase Mortgage Finance Trust
	3,122,876	Series 2007-S2		6.00%		03/25/2037		1,760,661
	333,440	Series 2007-S3		5.50%		05/25/2037		3
	4,307,388	Series 2007-S4		6.00%		06/25/2037		1,870,125
		ChaseFlex Trust Series
	3,343,184	Series 2007-M1(g)		1M SOFR + 0.34%		08/25/2037		2,631,294
		Citicorp Mortgage Securities Trust
	293,538	Series 2007-1		6.00%		01/25/2037		259,119
		Citigroup Mortgage Loan Trust
	71,810	Series 2009-12(f)		5.50%		11/25/2035		57,751
	176,168	Series 2009-4(f)(g)		5.48%		05/25/2035		165,536
		CitiMortgage Alternative Loan Trust
	304,772	Series 2007-A1		6.00%		01/25/2037		268,682
	60,756	Series 2007-A1(g)(n)		5.40% - 1M US L		01/25/2037		2,919
	43,790	Series 2007-A3(g)		6.00%		03/25/2037		39,309
	101,130	Series 2007-A3(g)(n)		5.40% - 1M US L		03/25/2037		5,415
	307,763	Series 2007-A6		5.50%		06/25/2037		257,270
		Connecticut Avenue Securities Trust
	3,721,329	Series 2019-R05(f)(g)		30D US SOFR + 4.21%		07/25/2039		3,865,344
	4,250,000	Series 2022-R02(f)(g)		30D US SOFR + 7.65%		01/25/2027		4,497,167
	3,685,000	Series 2022-R03(f)(g)		30D US SOFR + 9.85%		03/25/2042		4,167,176
	4,125,000	Series 2023-R06(f)(g)		30D US SOFR + 3.90%		07/25/2043		4,274,531
		Countrywide Home Loan Mortgage Pass-Through Trust
	1,141,419	Series 2005-HYB7(g)		4.44%		11/20/2035		1,030,752
	20,538	Series 2005-J4		5.50%		11/25/2035		16,741
	1,153,023	Series 2006-18		6.00%		12/25/2036		650,027
	137,524	Series 2007-17		6.00%		10/25/2037		97,533
	199,335	Series 2007-3		6.00%		04/25/2037		98,289
	225,740	Series 2007-7		5.75%		06/25/2037		112,997
		Credit Suisse First Boston Mortgage Securities Corp.
	41,749	Series 2005-10		5.50%		11/25/2035		31,228
	26,380	Series 2005-8		5.50%		08/25/2025		20,541
	4,004,198	Series 2005-9		6.00%		10/25/2035		1,261,538
		Credit Suisse Mortgage Capital Certificates
	1,720,912	Series 2006-2		5.75%		03/25/2036		931,469
		CSMC
	900,000	Series 2021-NQM6(f)(g)		2.58%		07/25/2066		547,036
		CSMC Mortgage-Backed Trust
	143,580	Series 2006-1		6.00%		02/25/2036		44,616
	13,043	Series 2006-4		5.50%		05/25/2021		7,268
	792,419	Series 2006-5		6.25%		06/25/2036		151,218
	60,443	Series 2006-9		6.00%		11/25/2036		35,992
	3,902	Series 2007-2		5.00%		03/25/2037		2,961

Principal Amount/Description			Rate		Maturity		Value
		Deutsche Alt-A Securities, Inc. Mortgage Loan Trust
$	175,188	Series 2005-6(g)(n)		5.08% - 1M US L		12/25/2035	$	9,635
	76,507	Series 2005-6(g)		1M US L + 1.40%		12/25/2035		60,361
		Deutsche Mortgage Securities, Inc. Mortgage Loan Trust
	96,928	Series 2006-PR1(f)(g)		12.12% - 1M US L		04/15/2036		85,302
		Fannie Mae Interest Strip
	5,838,223	Series 2014-419(n)		3.50%		04/25/2044		872,602
		Fannie Mae Pool
	3,946,963	Series 2021-		3.00%		10/01/2046		3,595,362
	1,946,741	Series 2021-		3.00%		12/01/2048		1,761,658
	1,988,393	Series 2021-		4.00%		06/01/2049		1,914,467
	2,379,898	Series 2021-		2.50%		12/01/2051		2,026,862
	3,298,827	Series 2022-		3.50%		11/01/2050		3,071,698
	1,555,621	Series 2022-		5.00%		07/01/2052		1,540,182
	3,000,000	Series Pool #BL4424		2.14%		10/01/2029		2,668,897
	3,000,000	Series Pool #BL5156		2.37%		12/01/2029		2,681,446
		Fannie Mae REMICS
	4,969,652	Series 2014-1(g)(n)		5.79% - 30D US SOFR		02/25/2044		525,786
	5,526,523	Series 2015-54(g)(n)		6.036% - 30D US SOFR		07/25/2045		713,500
	8,842,517	Series 2020-74(g)(n)		4.10% - 30D US SOFR		10/25/2050		449,823
	18,307,215	Series 2020-77(g)(n)		4.10% - 30D SOFR		11/25/2050		841,268
	2,155,164	Series 2021-48(g)		3.65% - 30D US SOFR		08/25/2051		56,591
	14,648,139	Series 2021-56(n)		2.50%		09/25/2051		1,828,232
		Federal Home Loan Mortgage Corp. Pool
	105,637	Series Pool #G01840		5.00%		07/01/2035		107,536
	40,158	Series Pool #G04817		5.00%		09/01/2038		40,881
		Federal Home Loan Mortgage Corp. REMICS
	565,480	Series 2003-2722(g)		9.89% - 1M US L		12/15/2033		572,943
	99,810	Series 2005-R003		5.50%		10/15/2035		99,413
	788,411	Series 2006-3244(g)(n)		6.66% - 1M US L		11/15/2036		76,923
	38,485	Series 2007-3261(g)(n)		6.43% - 1M US L		01/15/2037		3,387
	80,688	Series 2007-3262(g)(n)		6.40% - 1M US L		01/15/2037		4,583
	319,143	Series 2007-3301(g)(n)		6.10% - 1M US L		04/15/2037		26,105
	233,756	Series 2007-3303(g)(n)		6.10% - 1M US L		04/15/2037		20,338
	57,554	Series 2007-3382(g)(n)		6.00% - 1M US L		11/15/2037		3,690
	206,431	Series 2007-3384(g)(n)		6.31% - 1M US L		08/15/2036		17,731
	65,799	Series 2007-3384(g)(n)		6.39% - 1M US L		11/15/2037		3,993
	29,040	Series 2008-3417(g)(n)		6.18% - 1M US L		02/15/2038		2,144
	84,207	Series 2008-3423(g)(n)		5.65% - 1M US L		03/15/2038		4,943
	1,260,503	Series 2008-3423(g)(n)		6.00% - 1M US L		03/15/2038		4,235
	720,068	Series 2009-3510(g)		6.75% - 1M US L		02/15/2037		57,657
	208,418	Series 2009-3523(g)(n)		6.00% - 1M US L		04/15/2039		15,807
	37,168	Series 2009-3524(g)		3.41%		06/15/2038		34,757
	3,238	Series 2009-3549(g)(n)		5.80% - 1M US L		07/15/2039		239
	377,910	Series 2009-3560(g)		6.40% - 1M US L		11/15/2036		17,472
	135,478	Series 2010-3641		4.50%		03/15/2040		134,034
	202,624	Series 2010-3726(g)(n)		6.05% - 1M US L		09/15/2040		19,041
	612,267	Series 2010-3728(g)(n)		4.45% - 1M US L		09/15/2040		21,399
	256,500	Series 2010-3779		3.50%		12/15/2030		248,164
	51,653	Series 2010-3779		4.00%		12/15/2030		50,793
	239,736	Series 2010-3779		4.50%		12/15/2040		236,144
	27,133	Series 2011-3786(g)		9.50% - 1M US L		01/15/2041		21,023
	160,462	Series 2011-3808		3.50%		02/15/2031		155,237

Principal Amount/Description			Rate		Maturity		Value
$	434,208	Series 2011-3815(g)(n)		5.85% - 1M US L		02/15/2041	$	32,996
	143,013	Series 2011-3824		3.50%		03/15/2031		138,354
	219,971	Series 2011-3824(g)		7.10% - 1M US L		08/15/2036		24,740
	246,626	Series 2011-3863		5.50%		08/15/2034		249,283
	302,749	Series 2011-3864(g)		9.20% - 1M US L		05/15/2041		238,422
	265,449	Series 2011-3871		5.50%		06/15/2041		269,992
	244,354	Series 2011-3872(g)(n)		5.95% - 1M US L		06/15/2041		18,406
	1,647,176	Series 2011-3910		5.00%		08/15/2041		1,660,702
	1,059,636	Series 2011-3924(g)(n)		6.00% - 1M US L		09/15/2041		64,260
	1,454,810	Series 2012-3(g)(n)		5.95% - 1M US L		02/25/2042		140,664
	792,183	Series 2013-4170(g)		4.05% - 1M US L		01/15/2033		696,860
	2,097,207	Series 2013-4239		0.00%		07/15/2043		1,300,917
	3,740,487	Series 2015-4440		2.50%		02/15/2045		3,289,557
		Federal National Mortgage Association Pool
	28,601	Series Pool #555743		5.00%		09/01/2033		29,073
	33,920	Series Pool #735382		5.00%		04/01/2035		34,481
	94,239	Series Pool #735383		5.00%		04/01/2035		95,797
	60,101	Series Pool #735484		5.00%		05/01/2035		61,094
	18,404	Series Pool #AH4437		4.00%		01/01/2041		17,607
		Federal National Mortgage Association REMICS
	17,467	Series 2004-46(g)		6.00% - 1M US L		03/25/2034		263
	121,548	Series 2006-101(g)(n)		6.47% - 30D US SOFR		10/25/2036		12,453
	355,292	Series 2006-123(g)(n)		6.32% - 1M US L		01/25/2037		36,027
	1,618,610	Series 2006-92(g)(n)		6.47% - 30D US SOFR		10/25/2036		165,111
	49,956	Series 2007-102(g)(n)		6.40% - 1M US L		11/25/2037		3,290
	37,418	Series 2007-108(g)(n)		6.36% - 1M US L		12/25/2037		2,501
	5,938	Series 2007-30(g)(n)		6.11% - 1M US L		04/25/2037		411
	221,228	Series 2007-38(g)(n)		6.08% - 1M US L		05/25/2037		11,138
	9,163	Series 2007-51(g)(n)		6.10% - 1M US L		06/25/2037		493
	25,572	Series 2007-53(g)(n)		6.10% - 1M US L		06/25/2037		1,584
	240,313	Series 2007-57(g)(n)		6.62% - 1M US L		10/25/2036		22,877
	48,303	Series 2007-68(g)(n)		6.65% - 1M US L		07/25/2037		3,980
	365,197	Series 2008-3(g)(n)		6.46% - 1M US L		02/25/2038		26,992
	35,013	Series 2008-56(g)(n)		6.06% - 1M US L		07/25/2038		1,477
	9,975	Series 2008-81		5.50%		09/25/2038		10,064
	109,564	Series 2009-111		5.00%		01/25/2040		110,491
	52,959	Series 2009-111(g)(n)		6.25% - 1M US L		01/25/2040		5,584
	464,409	Series 2009-12(g)(n)		6.60% - 1M US L		03/25/2036		32,297
	12,791	Series 2009-28(g)		6.00% - 1M US L		04/25/2037		730
	89,138	Series 2009-41		4.50%		06/25/2039		87,966
	40,060	Series 2009-42(g)(n)		6.00% - 1M US L		06/25/2039		2,270
	74,018	Series 2009-47(g)(n)		6.10% - 1M US L		07/25/2039		4,928
	30,186	Series 2009-62(g)(n)		6.10% - 1M US L		08/25/2039		981
	31,392	Series 2009-66(g)		5.80% - 1M US L		02/25/2038		2,308
	25,883	Series 2009-68(g)(n)		5.25% - 1M US L		09/25/2039		1,269
	87,385	Series 2010-11(g)(n)		4.80% - 1M US L		02/25/2040		4,302
	16,275	Series 2010-111(g)(n)		6.00% - 1M US L		10/25/2040		904
	48,178	Series 2010-112		4.00%		10/25/2040		46,092
	68,406	Series 2010-115(g)		6.60% - 1M US L		11/25/2039		6,057
	864,535	Series 2010-115(g)(n)		6.00% - 1M US L		10/25/2040		95,954
	2,051,908	Series 2010-123(g)(n)		6.05% - 1M US L		11/25/2040		224,886
	349,832	Series 2010-15(g)(n)		4.95% - 1M US L		03/25/2040		20,383
	21,896	Series 2010-34(g)(n)		4.93% - 1M US L		04/25/2040		741
	28,022	Series 2010-4(g)(n)		6.23% - 1M US L		02/25/2040		1,869
	34,357	Series 2010-58(g)		12.47% - 1M US L		06/25/2040		31,199
	1,190,011	Series 2010-75		4.50%		07/25/2040		1,170,703
	93,167	Series 2010-9(g)(n)		4.75% - 1M US L		02/25/2040		3,492

Principal Amount/Description			Rate		Maturity		Value
$	17,534	Series 2010-9(g)(n)		5.30% - 1M US L		02/25/2040	$	937
	5,097	Series 2010-90(g)(n)		6.00% - 1M US L		08/25/2040		401
	129,347	Series 2011-16		3.50%		03/25/2031		125,005
	100,054	Series 2011-25		3.00%		04/25/2026		98,006
	150,412	Series 2011-29		3.50%		04/25/2031		145,363
	1,642,640	Series 2012-106(g)(n)		6.16% - 1M US L		10/25/2042		157,786
	262,964	Series 2012-124(g)		7.79% - 1M US L		11/25/2042		188,770
	103,579	Series 2012-29(g)(n)		6.00% - 1M US L		04/25/2042		8,397
	302,250	Series 2012-32(n)		5.00%		04/25/2042		45,486
	1,585,176	Series 2012-65(g)(n)		5.98% - 1M US L		06/25/2042		161,545
	620,133	Series 2018-21		0.00%		04/25/2048		479,153
		First Horizon Alternative Mortgage Securities Trust
	462,298	Series 2005-FA6		5.50%		09/25/2035		249,128
		First Horizon Mortgage Pass-Through Trust
	456,715	Series 2007-AR3(g)		4.82%		11/25/2037		211,132
		Freddie Mac Pool
	3,727,665	Series 2021-		2.00%		11/01/2050		3,148,051
	1,529,424	Series 2022-		3.00%		03/01/2052		1,364,829
		Freddie Mac REMICS
	2,034,396	Series 2011-3972(g)(n)		5.79% - 30D US SOFR		12/15/2041		194,194
	2,083,196	Series 2020-5007(g)(n)		5.99% - 30D US SOFR		08/25/2050		282,069
	3,957,947	Series 2020-5041(n)		2.00%		11/25/2050		435,087
	11,292,751	Series 2020-5057(n)		3.00%		11/25/2050		1,763,487
	8,625,693	Series 2021-5070(n)		3.50%		02/25/2051		1,285,326
		Freddie Mac STACR REMIC Trust
	4,300,000	Series 2020-DNA6(f)(g)		30D US SOFR + 5.65%		12/25/2050		4,653,853
	2,500,000	Series 2021-DNA1(f)(g)		30D US SOFR + 4.75%		01/25/2051		2,560,195
	2,750,000	Series 2021-HQA2(f)(g)		30D US SOFR + 3.15%		12/25/2033		2,766,543
		Freddie Mac Structured Agency Credit Risk Debt Notes
	3,000,000	Series 2021-DNA2(f)(g)		30D US SOFR + 6.00%		08/25/2033		3,364,445
		GCAT
	1,500,000	Series 2021-NQM4(f)(g)		2.47%		08/25/2025		895,974
		Ginnie Mae II Pool
	4,939,874	Series 2021-		2.50%		10/20/2051		4,304,378
	1,474,025	Series 2021-		2.50%		11/20/2051		1,275,671
		Government National Mortgage Association
	24,869	Series 2004-83(g)(n)		6.08% - 1M US L		10/20/2034		1,323
	23,738	Series 2008-6(g)(n)		6.46% - 1M US L		02/20/2038		14
	22,435	Series 2008-67(g)(n)		6.00% - 1M US L		08/20/2038		7
	351,090	Series 2008-69(g)(n)		7.63% - 1M US L		08/20/2038		23,119
	35,051	Series 2009-10(g)(n)		6.65% - 1M US L		02/16/2039		3,036
	361,739	Series 2009-35		4.50%		05/20/2039		354,703
	1,478,811	Series 2009-58(g)(n)		6.25% - 1M US L		06/20/2039		107,332
	25,307	Series 2009-6(g)		5.95% - 1M US L		02/20/2038		7
	706,608	Series 2009-75		5.00%		09/20/2039		705,262
	1,685,482	Series 2010-121(g)(n)		6.00% - 1M US L		09/20/2040		184,269
	26,370	Series 2010-61(g)(n)		6.44% - 1M SOFR		09/20/2039		1,400
	721,653	Series 2010-85(g)		1M SOFR + 0.67%		07/20/2040		714,429
	38,377	Series 2010-98(g)		5.45%		03/20/2039		1,686
	23,577,361	Series 2010-H20(g)(n)		1.40%		10/20/2060		600,077
	223,643	Series 2011-69		0.00%		05/20/2041		189,455

Principal Amount/Description			Rate		Maturity		Value
$	720,940	Series 2011-71		4.50%		02/20/2041	$	717,816
	510,728	Series 2011-71(g)(n)		5.40% - 1M US L		05/20/2041		37,278
	149,490	Series 2011-72(g)(n)		6.15% - 1M US L		05/20/2041		11,191
	769,510	Series 2011-89(g)(n)		5.45% - 1M US L		06/20/2041		57,309
	1,443,087	Series 2013-113(g)(n)		6.25% - 1M US L		03/20/2043		53,632
	2,746,380	Series 2013-122(g)(n)		6.10% - 1M US L		08/16/2043		301,217
	2,107,583	Series 2013-148(g)(n)		5.68% - 1M US L		10/16/2043		170,891
	2,129,954	Series 2013-186(g)(n)		6.25% - 1M US L		02/16/2043		136,266
	1,700,668	Series 2014-156(g)(n)		6.25% - 1M US L		10/20/2044		180,487
	3,362,908	Series 2014-4(g)(n)		6.10% - 1M US L		01/16/2044		359,076
	4,231,166	Series 2014-41(g)(n)		5.99% - 1M SOFR		03/20/2044		453,590
	1,643,820	Series 2014-5(g)(n)		6.15% - 1M US L		07/20/2043		102,886
	2,749,728	Series 2014-95(g)(n)		6.25% - 1M US L		06/16/2044		225,766
	10,031,218	Series 2016-162(g)(n)		0.70%		09/16/2058		329,377
	1,539,916	Series 2016-89(g)		1M SOFR + 0.56%		07/20/2046		1,502,900
	13,327,403	Series 2016-H21(g)(n)		0.77%		09/20/2066		539,183
	4,628,677	Series 2018-97(g)(n)		6.09% - 1M SOFR		07/20/2048		531,581
	484,550	Series 2019-112(g)		1M SOFR + 0.51%		09/20/2049		471,335
	9,826,193	Series 2019-22(g)		5.49% - 1M SOFR		02/20/2045		1,097,833
	1,364,188	Series 2019-90(g)		1M SOFR + 0.46%		07/20/2049		1,323,754
	4,429,100	Series 2019-92(g)(n)		5.99% - 1M SOFR		07/20/2049		486,072
	17,801,962	Series 2019-H10(g)(n)		0.01%		06/20/2069		973,285
	4,700,802	Series 2019-H18(g)(n)		0.06%		11/20/2069		184,194
	8,942,559	Series 2020-112(g)(n)		6.14% - 1M SOFR		08/20/2050		1,003,916
	16,379,305	Series 2020-146(g)(n)		3.75% - 1M US L		10/20/2050		693,516
	12,516,645	Series 2020-146(g)(n)		6.19% - 1M SOFR		10/20/2050		1,796,147
	11,770,420	Series 2020-167(g)(n)		3.75% - 1M US L		11/20/2050		345,663
	17,444,191	Series 2020-168(g)(n)		0.98%		12/16/2062		1,215,939
	4,441,090	Series 2020-188(g)		6.19% - 1M SOFR		11/20/2050		669,268
	18,504,278	Series 2020-H18(g)(n)		0.09%		09/20/2070		1,195,304
	14,832,779	Series 2021-1		2.50%		01/20/2051		2,034,940
	9,973,499	Series 2021-1(g)(n)		6.19% - 1M SOFR		01/20/2051		1,403,386
	9,848,888	Series 2021-107(g)(n)		3.75% - 1M US L		06/20/2051		429,795
	1,537,164	Series 2021-117		3.50%		06/20/2051		256,940
	13,065,819	Series 2021-160		2.50%		06/20/2051		1,395,086
	17,140,560	Series 2021-52(g)		0.72%		04/16/2063		919,715
	23,122,150	Series 2021-59(g)(n)		2.60% - 30D US SOFR		04/20/2051		285,075
	12,942,808	Series 2021-7(n)		2.50%		01/20/2051		1,671,966
	13,019,304	Series 2021-76		3.00%		08/20/2050		1,881,577
	11,780,061	Series 2021-77(g)		3.75% - 1M US L		05/20/2051		451,584
	15,212,416	Series 2021-77		2.50%		05/20/2051		1,668,175
	5,949,871	Series 2021-89(g)(n)		3.75% - 1M US L		05/20/2051		213,506
	9,313,716	Series 2021-97(g)(n)		3.75% - 1M US L		06/20/2051		285,197
	28,613,024	Series 2021-97(g)(n)		3M US L + 2.44%		06/20/2051		390,244
	12,703,938	Series 2021-H08(g)		0.21%		05/20/2071		248,915
	37,142,882	Series 2022-1(g)(n)		2.65% - 30D US SOFR		01/20/2052		473,646
	26,760,234	Series 2022-48(g)(n)		0.71%		01/16/2064		1,615,927
		GSR Mortgage Loan Trust
	892,791	Series 2006-2F		5.25%		02/25/2036		371,371
	1,557,437	Series 2007-2F		6.00%		03/25/2037		856,692
	673,448	Series 2007-AR2(g)		3.68%		05/25/2037		377,169
		Impac CMB Trust
	81,005	Series 2004-10(g)		1M SOFR + 0.81%		03/25/2035		66,093
		Imperial Fund Mortgage Trust
	1,000,000	Series 2021-NQM4(f)(g)		3.45%		01/25/2057		725,215
		IndyMac IMJA Mortgage Loan Trust
	947,480	Series 2007-A1		6.00%		08/25/2037		365,584

Principal Amount/Description			Rate		Maturity		Value
		IndyMac IMSC Mortgage Loan Trust
$	4,670,817	Series 2007-F2		6.50%		07/25/2037	$	1,491,638
		JP Morgan Alternative Loan Trust
	154,352	Series 2005-S1		6.00%		12/25/2035		106,251
	21,783	Series 2006-S3(m)		6.62%		08/25/2036		20,857
		JP Morgan Mortgage Trust
	773,610	Series 2007-S3		6.00%		07/25/2037		378,241
		JP Morgan Resecuritization Trust
	517,976	Series 2011-1(f)(g)		6.00%		06/26/2037		397,496
	1,908,376	Series 2014-6(f)(g)		1M SOFR + 0.32%		07/27/2046		1,804,151
		Legacy Mortgage Asset Trust
	14,550,610	Series 2019-GS7(f)(m)		8.50%		11/25/2059		14,188,046
		Lehman Mortgage Trust
	386,608	Series 2006-6		5.50%		10/25/2036		264,018
	3,847,341	Series 2006-7(g)		1M US L + 0.25%		11/25/2036		297,488
	3,847,341	Series 2006-7(g)(n)		7.75% - 1M US L		11/25/2036		344,113
	1,161,970	Series 2006-8(g)		1M US L + 0.42%		12/25/2036		260,431
	1,161,970	Series 2006-8(g)(n)		6.47% - 1M SOFR		12/25/2036		127,294
	253,148	Series 2007-10		6.50%		01/25/2038		72,108
		LHOME Mortgage Trust
	48,215	Series 2021-RTL1(f)(g)		3.09%		02/25/2026		48,078
	4,400,000	Series 2021-RTL1(f)(g)		5.46%		02/25/2026		4,065,620
	1,500,000	Series 2021-RTL2(f)(m)		4.61%		01/25/2024		1,406,140
		Merrill Lynch Alternative Note Asset Trust
	687,842	Series 2007-F1		6.00%		03/25/2037		76,731
		Morgan Stanley Mortgage Loan Trust
	987,985	Series 2005-3AR(g)		4.98%		07/25/2035		817,532
	2,143,250	Series 2006-11		6.00%		08/25/2036		1,312,523
	2,491,164	Series 2006-1AR(g)		1M SOFR + 0.39%		02/25/2036		1,540,737
	611,630	Series 2006-7(g)		5.21%		06/25/2036		341,443
	638,284	Series 2006-7		6.00%		06/25/2036		317,305
		Morgan Stanley Re-REMIC Trust
	206	Series 2011-R1(f)(g)		5.94%		02/26/2037		206
		Morgan Stanley Residential Mortgage Loan Trust
	277,709	Series 2020-RPL1(f)(g)		5.69%		10/25/2060		274,791
		NewRez Warehouse Securitization Trust
	3,943,333	Series 2021-1(f)(g)		1M SOFR + 5.36%		05/25/2055		3,951,251
		Nomura Asset Acceptance Corp. Alternative Loan Trust
	952,445	Series 2005-AP3(g)		5.32%		08/25/2035		435,502
		PR Mortgage Loan Trust
	6,093,183	Series 2014-1(f)(g)		5.82%		10/25/2049		5,614,802
		Prime Mortgage Trust
	43,712	Series 2006-DR1(f)		5.50%		05/25/2035		37,750
		RBSGC Structured Trust
	102,610	Series 2008-B(f)		6.00%		06/25/2037		91,208
		Residential Accredit Loans, Inc.
	3,151,918	Series 2006-QA5(g)		1M US L + 0.22%		07/25/2036		1,291,687
	1,162,900	Series 2006-QS10		6.50%		08/25/2036		987,661
	288,881	Series 2006-QS6		6.00%		06/25/2036		222,364
	714,649	Series 2006-QS7		6.00%		06/25/2036		551,320
	37,570	Series 2006-QS7(g)		1M US L + 0.40%		06/25/2036		26,691
	112,711	Series 2006-QS7(g)(n)		5.60% - 1M US L		06/25/2036		7,431
	49,061	Series 2006-QS8(g)		1M US L + 0.45%		08/25/2036		35,813
	147,184	Series 2006-QS8(g)(n)		5.55% - 1M US L		08/25/2036		11,449

Principal Amount/Description			Rate		Maturity		Value
$	4,604	Series 2007-QS6(g)		55.00% - 8.33 x 1M US L		04/25/2037	$	5,880
	424,653	Series 2007-QS9		6.50%		07/25/2037		332,057
	227,544	Series 2008-QR1		6.00%		08/25/2036		175,220
		Residential Asset Securitization Trust
	383,225	Series 2006-A1		6.00%		04/25/2036		180,839
	862,200	Series 2006-A2		6.00%		05/25/2036		365,743
	903,474	Series 2006-A6		6.50%		07/25/2036		279,518
	243,132	Series 2006-A8		6.00%		08/25/2036		136,234
	148,217	Series 2006-A8		6.50%		08/25/2036		42,722
	313,810	Series 2006-A8(g)(n)		5.90% - 1M US L		08/25/2036		28,890
	1,330,623	Series 2007-A1		6.00%		03/25/2037		443,179
	56,768	Series 2007-A6		6.00%		06/25/2037		29,887
	2,535,118	Series 2007-A7		6.00%		07/25/2037		1,026,941
		Residential Funding Mortgage Securities I Trust
	367,589	Series 2006-S3		5.50%		03/25/2036		298,291
	72,430	Series 2006-S6		6.00%		07/25/2036		60,769
	195,741	Series 2007-S3		6.00%		03/25/2037		141,440
	115,267	Series 2007-S6		6.00%		06/25/2037		84,242
		Residential Mortgage Loan Trust
	3,250,000	Series 2020-1(f)(g)		4.67%		01/26/2060		2,698,416
		Sequoia Mortgage Trust
	876,556	Series 2007-3(g)		3.92%		07/20/2037		645,701
		Structured Adjustable Rate Mortgage Loan Trust
	495,141	Series 2005-15(g)		4.64%		07/25/2035		267,150
		Structured Asset Securities Corp.
	133,461	Series 2005-RF1(f)(g)		1M US L + 0.35%		03/25/2035		115,028
	133,461	Series 2005-RF1(f)(g)(n)		0.00%		03/25/2035		1,364
		TBW Mortgage-Backed Trust
	1,391,157	Series 2006-2		7.00%		07/25/2036		228,576
		Verus Securitization Trust
	2,300,000	Series 2019-INV3(f)(g)		3.28%		11/25/2059		2,099,142
	1,500,000	Series 2021-4(f)(g)		2.20%		07/25/2066		886,892
	1,400,000	Series 2021-6(f)(g)		4.05%		10/25/2066		1,034,130
	2,000,000	Series 2021-7(f)(g)		4.19%		10/25/2066		1,355,763
	7,706,000	Series 2022-4(f)(g)		4.71%		04/25/2067		6,284,387
	1,681,323	Series 2023-3(f)(g)(m)		6.44%		03/25/2068		1,686,869
		Wachovia Mortgage Loan Trust, LLC Series Trust
	45,368	Series 2005-B(g)		6.24%		10/20/2035		43,051
		Washington Mutual Alternative Mortgage Pass-Through Certificates
	36,946	Series 2005-9		5.50%		11/25/2035		28,464
	305,249	Series 2006-5		6.00%		07/25/2036		203,902
		Washington Mutual Mortgage Pass-Through Certificates Trust
	504,808	Series 2006-2		6.00%		03/25/2036		478,266
		Wells Fargo Alternative Loan Trust
	195,526	Series 2007-PA2(g)		1M US L + 0.43%		06/25/2037		159,013
	197,004	Series 2007-PA2(g)(n)		6.07% - 1M US L		06/25/2037		16,027
	104,955	Series 2007-PA3		5.75%		07/25/2037		89,139

Principal Amount/Description			Rate		Maturity		Value
$	230,699	Series 2007-PA3		6.25%		07/25/2037	$	196,266
TOTAL U.S. GOVERNMENT / AGENCY MORTGAGE BACKED SECURITIES
(Cost $307,367,687)								215,658,454

Shares/Description			Value
Warrants - 0.00%(l)
	219,520	Oas SA, Strike Price 1.00, Expires 05/16/2039(c)		–
TOTAL WARRANTS
(Cost $0)				–
Short-Term Investments - 4.34%
Money Market Fund - 4.34%
	52,095,804	State Street Institutional Trust (7 Day Yield 5.29%)		52,095,804
TOTAL SHORT-TERM INVESTMENTS
(Cost $52,095,804)				52,095,804
TOTAL INVESTMENTS - 99.88%
(Cost $1,378,786,625)			$	1,198,037,338
OTHER ASSETS IN EXCESS OF LIABILITIES - 0.12%				1,431,967
NET ASSETS - 100.00%			$	1,199,469,305

Investment Abbreviations:

LIBOR - London Interbank Offered Rate

LLC - Limited Liability Company

LP - Limited Partnership

SOFR - Secured Overnight Financing Rate Data

TI - Treasury Index

Rates:

1M US L - 1 Month LIBOR as of December 31, 2023 was 5.47%

3M US L - 3 Month LIBOR as of December 31, 2023 was 5.59%

6M US L - 6 Month LIBOR as of December 31, 2023 was 5.59%

1D SOFR - 1 Day SOFR as of December 31, 2023 was 5.31%

30D SOFR - 30 Day SOFR as of December 31, 2023 was 5.34%

1Y US TI - 1 Year TI as of December 31, 2023 was 4.79%

5Y US TI - 5 Year TI as of December 31, 2023 was 3.84%

10Y US TI - 10 Year TI as of December 31, 2023 was 3.88%

(a)	Non-income producing security.
(b)	Security does not have a market value or rate. Security will not be entitled to distributions in respect of principal or interest other than excess interest paid with respect to the mortgage loans.
(c)	The Level 3 assets were a result of unavailable quoted prices from an active market or the unavailability of other significant observable inputs.
(d)	Affiliated company. See Notes to Quarterly Schedule of Investments.
(e)	Security has no contractual maturity date, is not redeemable and contractually pays an indefinite stream of interest.

(f)	Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities have been deemed liquid under procedures approved by the Fund's Board of Trustees and may normally be sold to qualified institutional buyers in transactions exempt from registration. Total fair value of Rule 144A securities amounts to $366,491,264, which represents approximately 30.55% of net assets as of December 31, 2023.
(g)	Variable rate investment. Interest rates reset periodically. Interest rate shown reflects the rate in effect at December 31, 2023. For securities based on a published reference rate and spread, the reference rate and spread are indicated in the description above. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above.
(h)	Securities were purchased pursuant to Regulation S under the Securities Act of 1933, as amended, which exempts securities offered and sold outside of the United States from registration. Such securities cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, as amended, or pursuant to an exemption from registration. These securities have been deemed liquid under procedures approved by the Fund's Board of Trustees (the "Board"). As of December 31, 2023, the aggregate fair value of those securities was $21,445,870, representing 1.79% of net assets.
(i)	Pay-in-kind securities. Rate paid in-kind is shown in parenthesis.
(j)	Security is currently in default.
(k)	Issued with a zero coupon.  Income is recognized through the accretion of discount.
(l)	Less than 0.005%.
(m)	Step up bond. Coupon changes periodically based upon a predetermined schedule. Interest rate disclosed is that which is in effect at December 31, 2023.
(n)	Interest only securities.

See Notes to Quarterly Schedule of Investments.

Futures Contracts:

Description	Contracts		Expiration Date	Notional Value		Value and Unrealized Appreciation/(Depreciation)
10-Yr U.S. Treasury Note Futures		355	March 2024	$	41,895,547	$	1,823,322
				$	41,895,547	$	1,823,322

RiverNorth/Oaktree High Income Fund

SCHEDULE OF INVESTMENTS

December 31, 2023 (Unaudited)

Shares/Description			Value
BUSINESS DEVELOPMENT COMPANIES - 2.02%
	1,100,000	Golub Capital BDC, Inc., 3.375%, 04/15/2024	$	1,091,597
TOTAL BUSINESS DEVELOPMENT COMPANIES
(Cost $1,092,138)				1,091,597
CLOSED-END FUNDS - 5.90%
	56,446	First Trust High Yield Opportunities 2027 Term Fund		786,293
	27,759	Nuveen Variable Rate Preferred & Income Fund		451,084
	337,948	Western Asset High Income Opportunity Fund, Inc.		1,304,479
	73,617	Western Asset Inflation-Linked Opportunities & Income Fund		638,259
TOTAL CLOSED-END FUNDS
(Cost $3,387,298)				3,180,115
COMMON STOCKS - 0.17%
	3,304	PHI Group, Inc.(a)		88,646
	6	Toys R Us Propco Equity(b)		33
TOTAL COMMON STOCKS
(Cost $65,834)				88,679

Principal Amount/Description			Rate	Maturity	Value
BANK LOANS - 15.30%(c)
Great Britain - 0.85%
$	245,625	City Football Group Limited, TL	1M SOFR + 3.00%	07/09/2028		244,909
	85,064	EG Group Limited TL 1L	3M SOFR + 5.50%	02/07/2025		83,363
	131,604	Osmosis Buyer, Ltd., First Lien  - Initial B Term Loan	3M US L + 2.75%, 0.50% Floor	06/17/2028		131,869
						460,141
Luxembourg - 0.45%
	242,467	Surf Holdings S.a r.l., First Lien  - Dollar Tranche Term Loan	1M SOFR + 3.50%	03/05/2027		243,285
United States - 14.00%
	48,846	Advantage Sales & Marketing Inc., First Lien	3M SOFR + 4.50%	10/28/2027		48,609
	43,240	Adtalem Global Education, Inc., First Lien  - B Term Loan	3M US L + 3.00%, 0.75% Floor	08/12/2028		43,403
	122,500	Allied Universal Holdco LLC, First Lien  - Initial U.S. Dollar Term Loan	1M US L + 3.75%, 0.50% Floor	05/12/2028		122,183
	55,300	Amentum Government Services Holdings, LLC, First Lien	1M SOFR + 4.00%	02/07/2029		55,424
	96,285	American Auto Auction Group, LLC, First Lien	3M SOFR + 5.00%	12/30/2027		95,161
	51,675	American Rock Salt Company LLC, First Lien  - Initial Term Loan	3M US L + 3.25%, 0.75% Floor	06/09/2028		48,994
	43,025	Ankura Consulting Group LLC, First Lien  - Closing Date Term Loan	3M US L + 4.00%, 0.75% Floor	03/17/2028		43,025
	135,134	Aragorn Holding Parent Corp., TL	6M US L + 0.00%	06/15/2028		135,177
	53,763	Artera Services, LLC, TL	L + 3.50%, 1.00% Floor	03/06/2025		50,764
	27,473	ASP Blade Holdings, Inc. TLB 1L	3M SOFR + 4.00%	10/07/2028		24,640

Principal Amount/Description			Rate	Maturity	Value
$	230,695	Astoria Energy LLC, First Lien  - B Advance (2020) Term Loan	3M US L + 4.25%, 1.00% Floor	12/10/2027	$	231,624
	138,501	Asurion LLC, First Lien  - New B-8 Term Loan	1M SOFR + 3.25%	12/23/2026		138,424
	156,706	BCP Renaissance Parent LLC, First Lien	3M SOFR + 3.50%, 1.00% Floor	10/31/2026		156,706
	69,715	BCPE North Star US Holdco 2, Inc., First Lien  - Initial Term Loan	3M US L + 3.75%, 0.75% Floor	06/09/2028		62,976
	98,500	Bengal Debt Merger Sub, LLC, First Lien	3M SOFR + 3.50%	01/19/2029		95,512
	25,000	Bengal Debt Merger Sub, LLC, Second Lien	3M SOFR + 6.00%	01/18/2030		20,359
	220,909	Brookfield WEC Holdings, Inc., First Lien  - Initial (2021) Term Loan	3M US L + 2.75%, 0.50% Floor	08/01/2025		221,747
	25,545	Carnival Corporation TLB 1L	1M SOFR + 3.25%	10/06/2028		25,620
	173,451	Charter Next Generation, Inc., First Lien  - Initial (2021) Term Loan	1M SOFR + 3.75%, 0.75% Floor	12/01/2027		174,454
	123,438	Clydesdale Acquisition Holdings, Inc., First Lien	1M SOFR + 4.175%, 0.50% Floor	04/13/2029		124,132
	122,188	Consilio/Skopima 5/21 Cov-Lite TLB	1M SOFR + 4.00%	05/12/2028		121,958
	23,041	CPV Maryland LLC, First Lien  - B Advance Term Loan	3M US L + 5.25%, 1.00% Floor	05/11/2028		22,897
	132,979	CQP Holdco LP TLB	3M US L + 4.00%	06/05/2028		133,395
	63,140	DIRECTV Financing LLC, First Lien  - Closing Date Term Loan	3M SOFR + 5.00%, 0.75% Floor	08/02/2027		63,255
	25,632	Diversitech Holdings, Inc.	3M SOFR + 3.75%	12/15/2028		25,498
	245,000	DRW Holdings LLC, First Lien  - Initial Term Loan	1M SOFR + 3.75%	03/01/2028		245,000
	76,830	Electron BidCo, Inc. TL 1L	1M SOFR + 3.00%	10/07/2028		77,118
	147,750	Fertitta Entertainment, LLC, First Lien	1M SOFR + 4.00%	01/13/2029		148,004
	237,642	Flynn Restaurant Group LP, First Lien	1M SOFR + 4.25%, 0.50% Floor	12/04/2028		239,127
	10,000	GIP III Stetson I LP, First Lien  - Initial Term Loan	2M US L + 4.25%	07/18/2025		10,050
	243,163	Great Outdoors Group LLC, First Lien	1M SOFR + 3.75%, 0.75% Floor	03/05/2028		243,466
	243,125	Greeneden U.S. Holdings I LLC, First Lien  - Initial Dollar (2020) Term Loan	1M SOFR + 4.00%, 0.75% Floor	12/01/2027		244,361
	236,017	Harbor Freight Tools USA, Inc., First Lien  - Initial (2021) Term Loan	L + 2.75%, 0.50% Floor	10/19/2027		236,060
	148,500	Houghton Mifflin Harcrt Co Tl 1L	1M SOFR + 5.25%	04/04/2029		146,034
	61,268	Hudson River Trading LLC, First Lien	1M US L + 3.00%	03/20/2028		61,158
	62,213	Hunter Douglas, Inc., First Lien	3M SOFR + 3.50%	02/09/2029		62,088
	243,769	IRB Holding Corp., First Lien	1M SOFR + 3.00%, 0.75% Floor	12/15/2027		244,465
	205,759	LogMeIn, Inc., First Lien  - Initial Term Loan	3M SOFR + 4.75%	08/31/2027		137,124
	97,842	LTI Holdings, Inc., First Lien	1M SOFR + 4.75%	07/24/2026		95,029
	44,850	Majordrive Holdings IV LLC, First Lien  - Initial Term Loan	3M US L + 3.75%, 0.50% Floor	06/01/2028		44,794
	58,263	McAfee Corp., First Lien	1M SOFR + 3.75%	02/02/2029		58,178
	34,750	Merion Rose Merger Sub, Inc., First Lien	3M SOFR + 4.00%	12/08/2028		32,491

Principal Amount/Description			Rate	Maturity	Value
$	175,000	Mileage Plus Holdings LLC, First Lien  - Initial Term Loan	3M SOFR + 5.25%, 1.00% Floor	06/21/2027	$	181,250
	69,935	Mitchell International, Inc. TLB	3M SOFR + 3.75%	10/01/2028		70,006
	228,558	Natgasoline LLC, First Lien  - Initial Term Loan	3M SOFR + 0.00%	11/14/2025		227,986
	48,648	Oryx Midstream Services Permian Basin LLC, First Lien	1M SOFR + 3.25%, 0.50% Floor	10/05/2028		48,836
	138,113	Pactiv Evergreen, Inc., First Lien  - Tranche B-2 U.S. Term Loan	1M US L + 3.25%	02/05/2026		138,717
	58,218	Parkway Generation, LLC, First Lien	6M US L + 4.75%	11/05/2028		56,128
	94,050	PMHC II, INC.TLB 1L	3M SOFR + 4.25%	02/02/2029		90,357
	32,340	Polaris Newco LLC, First Lien  - Dollar Term Loan	L + 4.00%, 0.50% Floor	06/04/2028		31,948
	240,000	Pug LLC, First Lien  - USD B Term Loan	1M SOFR + 3.50%	02/12/2027		236,749
	108,927	Redwood Star Merger Sub, Inc.	1M SOFR + 4.50%	03/16/2029		109,426
	54,175	Restaurant Technologies, Inc. TLB 1L	3M SOFR + 4.25%	03/17/2029		53,796
	40,095	SCIH Salt Holdings, Inc., First Lien  - Incremental B-1 Term Loan	3M US L + 3.50%, 0.75% Floor	03/16/2027		40,211
	146,625	SeaWorld Parks & Entertainment, Inc., First Lien  - B Term Loan	L + 3.00%, 0.50% Floor	08/25/2028		147,102
	39,451	Secure Acquisition, Inc.	3M SOFR + 5.00%	12/15/2028		39,513
	5,948	Secure Acquisition, Inc., First Lien	3M US L + 5.00%, 0.50% Floor	12/23/2028		5,957
	43,126	SM Wellness Holdings, Inc., First Lien  - Initial Term Loan	3M US L + 3.75%, 0.75% Floor	04/17/2028		41,832
	250,000	Sotera Health Holdings LLC, First Lien  - Refinancing Term Loan	3M US L + 3.25%, 0.50% Floor	12/11/2026		250,207
	136,326	Spin Holdco, Inc., First Lien  - Initial Term Loan	1M US L + 3.50%, 0.75% Floor	03/04/2028		120,357
	97,750	Tiger Acquisition LLC, First Lien  - Initial Term Loan	L + 3.25%, 0.50% Floor	06/01/2028		97,455
	71,431	Triton Water Holdings, Inc., First Lien  - Initial Term Loan	3M SOFR + 3.25%, 0.50% Floor	03/31/2028		70,895
	242,555	UKG, Inc., First Lien	3M SOFR + 3.25%, 0.50% Floor	05/03/2026		243,522
	38,801	United AirLines, Inc., First Lien  - Class B Term Loan	1M SOFR + 3.75%, 0.75% Floor	04/21/2028		38,995
	206,299	University Support Services LLC, First Lien	1M SOFR + 3.25%, 0.50% Floor	02/10/2029		206,583
	44,325	Univision Communications, Inc., First Lien  - B Term Loan	3M US L + 4.00%, 0.75% Floor	05/05/2028		44,339
	63,700	W. R. Grace Holdings LLC, First Lien  - Initial Term Loan	L + 3.75%, 0.50% Floor	09/22/2028		64,002
	81,340	Whatabrands LLC, First Lien  - Initial B Term Loan	1M SOFR + 3.00%, 0.50% Floor	08/03/2028		81,580
	199,322	William Morris Endeavor Entertainment LLC, First Lien  - B-1 Term Loan	1M SOFR + 2.75%	05/19/2025		200,102
						7,548,335
TOTAL BANK LOANS
(Cost $8,317,762)						8,251,761

Principal Amount/Description			Rate	Maturity	Value
HIGH YIELD DEBT- 73.91%
Australia - 0.33%
$	20,000	Mineral Resources, Ltd.(d)	9.25%	10/01/2028	$	21,300
	60,000	Mineral Resources, Ltd.(d)	8.50%	05/01/2030		62,625
	100,000	Nufarm Australia, Ltd. / Nufarm Americas, Inc.(d)	5.00%	01/27/2030		92,860
						176,785
Belgium - 0.21%
	100,000	Azelis Finance NV(d)	5.75%	03/15/2028		114,523
Canada - 1.94%
	90,000	Bausch Health Cos., Inc.(d)	6.13%	02/01/2027		60,846
	65,000	Bausch Health Cos., Inc.(d)	4.88%	06/01/2028		39,225
	63,000	Bombardier, Inc.(d)	7.13%	06/15/2026		62,763
	100,000	Bombardier, Inc.(d)	6.00%	02/15/2028		97,548
	35,000	Bombardier, Inc.(d)	8.75%	11/15/2030		37,309
	110,000	Cascades, Inc./Cascades USA, Inc.(d)	5.38%	01/15/2028		106,567
	15,000	goeasy, Ltd.(d)	4.38%	05/01/2026		14,458
	180,000	goeasy, Ltd.(d)	9.25%	12/01/2028		192,395
	105,000	Intelligent Packaging, Ltd. Finco, Inc. / Intelligent Packaging Ltd Co.-Issuer LLC(d)	6.00%	09/15/2028		98,077
	110,000	Mercer International, Inc.	5.13%	02/01/2029		94,632
	70,000	Northriver Midstream Finance LP(d)	5.63%	02/15/2026		67,939
	20,000	Open Text Corp.(d)	6.90%	12/01/2027		20,806
	55,000	Precision Drilling Corp.(d)	7.13%	01/15/2026		55,005
	25,000	Precision Drilling Corp.(d)	6.88%	01/15/2029		24,136
	80,000	Strathcona Resources, Ltd./Alberta(d)	6.88%	08/01/2026		76,458
						1,048,164
France - 2.29%
	200,000	Afflelou SAS(e)	4.25%	05/19/2026		220,514
	200,000	Altice France SA(e)	4.13%	01/15/2029		177,122
	55,000	Altice France SA(d)	5.13%	07/15/2029		42,865
	100,000	Altice France SA(d)	4.25%	10/15/2029		88,173
	100,000	Banijay Entertainment SASU(d)	7.00%	05/01/2029		116,747
	200,000	Electricite de France SA(c)(f)	2.86% - 5Y EUR SWAP	Perpetual Maturity		196,942
	100,000	Iliad Holding SASU(d)	5.63%	10/15/2028		111,133
	155,000	Iliad Holding SASU(d)	5.63%	10/15/2028		172,257
	100,000	Parts Europe SA(c)(e)	3M EUR L + 4.00%	07/20/2027		111,478
						1,237,231
Germany - 2.20%
	100,000	Cheplapharm Arzneimittel GmbH(e)	4.38%	01/15/2028		107,921
	100,000	Gruenenthal GmbH(d)	4.13%	05/15/2028		109,513
	100,000	IHO Verwaltungs GmbH(e)(g)	3.75%    (4.50%)	09/15/2026		109,154
	100,000	IHO Verwaltungs GmbH(d)(g)	8.75%    (9.50%)	05/15/2028		120,534
	68,206	Nidda BondCo GmbH(e)	7.25%	09/30/2025		75,298
	100,000	Nidda Healthcare Holding GmbH(e)	7.50%	08/21/2026		113,981
	100,000	Renk AG/Frankfurt am Main(e)	5.75%	07/15/2025		110,035
	96,712	Techem Verwaltungsgesellschaft 674 mbH(e)	6.00%	07/30/2026		106,850
	115,000	TUI Cruises GmbH(e)	6.50%	05/15/2026		125,686
	100,000	WEPA Hygieneprodukte GmbH(e)	2.88%	12/15/2027		103,655
	100,000	ZF Finance GmbH	2.75%	05/25/2027		105,334
						1,187,961
Great Britain - 2.40%
	100,000	British Telecommunications PLC(c)	2.13% - 5Y EUR SWAP	08/18/2080		105,598
	100,000	British Telecommunications PLC(c)		12/20/2083		134,911
	100,000	INEOS Finance PLC(e)	2.88%	05/01/2026		107,243

Principal Amount/Description			Rate	Maturity	Value
$	100,000	INEOS Quattro Finance 2 PLC(e)	2.50%	01/15/2026	$	107,216
	135,000	NGG Finance PLC(c)	2.532% - 5Y EUR SWAP	09/05/2082		135,697
	100,000	Pinewood Finance Co., Ltd.(e)	3.25%	09/30/2025		124,243
	70,000	Virgin Media Secured Finance PLC(d)	4.50%	08/15/2030		62,413
	225,000	Vmed O2 UK Financing I PLC(d)	4.75%	07/15/2031		201,123
	200,000	Vodafone Group PLC(c)	3.00% - 5Y EUR SWAP	08/27/2080		198,138
	100,000	Vodafone Group PLC(c)	5Y EUR SWAP + 3.489%	08/30/2084		118,320
						1,294,902
Hong Kong - 0.36%
	230,000	Seaspan Corp.(d)	5.50%	08/01/2029		192,614
Ireland - 0.80%
	200,000	Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc.(e)	2.13%	08/15/2026		197,464
	100,000	Virgin Media Vendor Financing Notes III DAC(e)	4.88%	07/15/2028		117,673
	100,000	Virgin Media Vendor Financing Notes III DAC(d)	4.88%	07/15/2028		117,673
						432,810
Italy - 1.66%
	100,000	Cedacri Mergeco SPA(c)(d)	3M EUR L + 4.625%	05/15/2028		107,469
	100,000	Engineering - Ingegneria Informatica - SpA(e)	5.88%	09/30/2026		108,473
	100,000	Guala Closures SpA(e)	3.25%	06/15/2028		104,185
	100,000	Limacorporate SpA(c)(e)	3M EUR L + 5.75%	02/01/2028		112,034
	100,000	Lottomatica SpA/Roma(d)	7.13%	06/01/2028		116,701
	100,000	Mooney Group SpA(c)(e)	3M EUR L + 3.875%	12/17/2026		108,811
	200,000	Telecom Italia SpA	6.88%	02/15/2028		235,702
						893,375
Japan - 0.20%
	115,000	Nissan Motor Co., Ltd.(d)	4.81%	09/17/2030		107,583
Luxembourg - 3.20%
	200,000	Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl(d)	4.63%	06/01/2028		182,998
	100,000	Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl(e)	3.63%	06/01/2028		97,251
	100,000	Altice Financing SA(e)	4.25%	08/15/2029		98,279
	100,000	Altice Financing SA(d)	4.25%	08/15/2029		98,279
	100,000	Altice France Holding SA(d)	4.00%	02/15/2028		49,342
	100,000	Dana Financing Luxembourg Sarl(d)	3.00%	07/15/2029		97,834
	100,000	Eurofins Scientific SE(c)(f)	3M EUR L + 2.667%	12/31/9999		106,684
	100,000	Eurofins Scientific SE(c)(f)	3M EUR L + 4.241%	12/31/9999		115,125
	70,000	Intelsat Jackson Holdings SA(d)	6.50%	03/15/2030		66,857
	105,000	ION Trading Technologies Sarl(d)	5.75%	05/15/2028		92,732
	100,000	Matterhorn Telecom SA(e)	4.00%	11/15/2027		109,017
	200,000	SES SA(c)(f)	5.63%	12/31/9999		221,174
	110,000	SK Invictus Intermediate II Sarl(d)	5.00%	10/30/2029		95,546
	100,000	Summer BC Holdco B SARL(e)	5.75%	10/31/2026		106,097
	195,000	Telecom Italia Capital SA	6.38%	11/15/2033		190,984
						1,728,199

Principal Amount/Description			Rate	Maturity	Value
Netherlands - 2.79%
$	100,000	Boels Topholding BV(d)	6.25%	02/15/2029	$	115,643
	100,000	Dufry One BV	3.38%	04/15/2028		105,578
	125,000	GTCR W-2 Merger Sub LLC / GTCR W Dutch Finance Sub BV(d)	8.50%	01/15/2031		172,755
	100,000	Q-Park Holding I BV(e)	1.50%	03/01/2025		108,431
	100,000	Q-Park Holding I BV(e)	2.00%	03/01/2027		102,337
	100,000	Repsol International Finance BV(c)(f)	2.769% - 5Y EUR SWAP	12/31/9999		103,547
	100,000	Telefonica Europe BV(c)(f)	6Y EUR SWAP + 4.322%	12/31/9999		119,438
	100,000	Telefonica Europe BV(c)(f)		12/31/9999		118,148
	125,000	TMNL Holding BV(d)	3.75%	01/15/2029		131,366
	100,000	Trivium Packaging Finance BV(d)	3.75%	08/15/2026		107,254
	200,000	UPC Holding BV(d)	5.50%	01/15/2028		188,741
	45,000	Ziggo Bond Co. BV(d)	5.13%	02/28/2030		37,690
	100,000	Ziggo Bond Co. BV(e)	3.38%	02/28/2030		93,577
						1,504,505
Spain - 0.19%
	100,000	Grifols SA(d)	3.88%	10/15/2028		101,145
Sweden - 0.43%
	100,000	Samhallsbyggnadsbolaget i Norden AB(c)(f)	3.223% - 5Y EUR SWAP	12/31/9999		18,436
	100,000	Verisure Holding AB(e)	3.88%	07/15/2026		108,662
	100,000	Verisure Midholding AB(e)	5.25%	02/15/2029		105,704
						232,802
United States - 54.91%
	40,000	Academy, Ltd.(d)	6.00%	11/15/2027		39,328
	95,000	ACCO Brands Corp.(d)	4.25%	03/15/2029		85,821
	105,000	Acuris Finance US, Inc. / Acuris Finance SARL(d)	5.00%	05/01/2028		86,200
	55,000	Adient Global Holdings, Ltd.(d)	7.00%	04/15/2028		56,884
	75,000	Adient Global Holdings, Ltd.(d)	8.25%	04/15/2031		79,477
	55,000	ADT Security Corp.(d)	4.13%	08/01/2029		50,674
	30,000	ADT Security Corp.(d)	4.88%	07/15/2032		27,783
	170,000	Albertsons Cos. Inc / Safeway, Inc. / New Albertsons LP / Albertsons LLC(d)	5.88%	02/15/2028		170,220
	160,000	Alliant Holdings Intermediate LLC / Alliant Holdings Co.-Issuer(d)	6.75%	04/15/2028		163,785
	125,000	AMC Networks, Inc.	4.25%	02/15/2029		95,501
	50,000	American Airlines, Inc.(d)	7.25%	02/15/2028		50,617
	95,000	American Axle & Manufacturing, Inc.	5.00%	10/01/2029		84,057
	50,000	APX Group, Inc.(d)	6.75%	02/15/2027		49,946
	65,000	APX Group, Inc.(d)	5.75%	07/15/2029		60,680
	115,000	Aramark Services, Inc.(d)	5.00%	02/01/2028		111,632
	235,000	Arches Buyer, Inc.(d)	4.25%	06/01/2028		213,077
	45,000	Archrock Partners LP / Archrock Partners Finance Corp.(d)	6.88%	04/01/2027		45,157
	75,000	Archrock Partners LP / Archrock Partners Finance Corp.(d)	6.25%	04/01/2028		73,952
	65,000	Arsenal AIC Parent LLC(d)	8.00%	10/01/2030		67,900
	75,000	Ascent Resources Utica Holdings LLC / ARU Finance Corp.(d)	7.00%	11/01/2026		75,588
	175,000	ASP Unifrax Holdings, Inc.(d)	5.25%	09/30/2028		126,595
	150,000	AssuredPartners, Inc.(d)	5.63%	01/15/2029		140,199
	75,000	AthenaHealth Group, Inc.(d)	6.50%	02/15/2030		68,138
	85,000	Avient Corp.(d)	7.13%	08/01/2030		88,476
	135,000	B&G Foods, Inc.(d)	8.00%	09/15/2028		141,925
	145,000	BellRing Brands, Inc.(d)	7.00%	03/15/2030		150,189

Principal Amount/Description			Rate	Maturity	Value
$	60,000	Big River Steel LLC / BRS Finance Corp.(d)	6.63%	01/31/2029	$	61,247
	1,304,780	Blackstone Private Credit Fund	2.63%	12/15/2026		1,182,632
	15,000	Block Communications, Inc.(d)	4.88%	03/01/2028		13,201
	165,000	Bloomin' Brands, Inc. / OSI Restaurant Partners LLC(d)	5.13%	04/15/2029		152,369
	500,000	Blue Owl Capital Corp.	3.75%	07/22/2025		479,135
	1,242,000	Blue Owl Capital Corp. III	3.13%	04/13/2027		1,098,350
	200,000	Blue Owl Credit Income Corp.	5.50%	03/21/2025		197,315
	60,000	Borr IHC, Ltd. / Borr Finance LLC(d)	10.00%	11/15/2028		62,700
	105,000	Brinker International, Inc.(d)	8.25%	07/15/2030		109,942
	45,000	Buckeye Partners LP(d)	4.50%	03/01/2028		42,437
	175,000	Cable One, Inc.(h)	0.00%	03/15/2026		149,363
	50,000	Cablevision Lightpath LLC(d)	3.88%	09/15/2027		43,957
	85,000	Cablevision Lightpath LLC(d)	5.63%	09/15/2028		67,079
	140,000	Caesars Entertainment, Inc.(d)	6.25%	07/01/2025		140,486
	75,000	Caesars Entertainment, Inc.(d)	7.00%	02/15/2030		76,955
	130,000	Callon Petroleum Co.(d)	7.50%	06/15/2030		131,246
	160,000	Calpine Corp.(d)	5.13%	03/15/2028		153,505
	125,000	Calpine Corp.(d)	5.00%	02/01/2031		114,753
	175,000	Carnival Corp.(d)	5.75%	03/01/2027		170,832
	170,000	Carnival Corp.(d)	10.50%	06/01/2030		186,070
	50,000	CCO Holdings LLC / CCO Holdings Capital Corp.(d)	5.50%	05/01/2026		49,698
	175,000	CCO Holdings LLC / CCO Holdings Capital Corp.(d)	6.38%	09/01/2029		172,811
	120,000	CCO Holdings LLC / CCO Holdings Capital Corp.(d)	4.75%	03/01/2030		109,824
	250,000	CCO Holdings LLC / CCO Holdings Capital Corp.(d)	4.50%	06/01/2033		211,859
	135,000	CCO Holdings LLC / CCO Holdings Capital Corp.(d)	4.25%	01/15/2034		109,886
	130,000	Cedar Fair LP	5.25%	07/15/2029		122,793
	65,000	Central Garden & Pet Co.	5.13%	02/01/2028		63,502
	75,000	Chart Industries, Inc.(d)	7.50%	01/01/2030		78,487
	35,000	Chart Industries, Inc.(d)	9.50%	01/01/2031		38,045
	90,000	Cheniere Energy, Inc.	4.63%	10/15/2028		87,914
	40,000	CHS/Community Health Systems, Inc.(d)	6.00%	01/15/2029		36,051
	85,000	CHS/Community Health Systems, Inc.(d)	10.88%	01/15/2032		88,942
	65,000	Churchill Downs, Inc.(d)	5.50%	04/01/2027		64,368
	10,000	Churchill Downs, Inc.(d)	4.75%	01/15/2028		9,590
	55,000	Churchill Downs, Inc.(d)	5.75%	04/01/2030		53,689
	100,000	Churchill Downs, Inc.(d)	6.75%	05/01/2031		101,618
	305,000	CITGO Petroleum Corp.(d)	7.00%	06/15/2025		304,764
	35,000	CITGO Petroleum Corp.(d)	6.38%	06/15/2026		34,924
	200,000	Civitas Resources, Inc.(d)	8.63%	11/01/2030		212,313
	95,000	Clear Channel Outdoor Holdings, Inc.(d)	5.13%	08/15/2027		90,750
	60,000	Clear Channel Outdoor Holdings, Inc.(d)	9.00%	09/15/2028		62,651
	65,000	Cleveland-Cliffs, Inc.(d)	6.75%	03/15/2026		65,321
	275,000	Cloud Software Group, Inc.(d)	6.50%	03/31/2029		262,144
	85,000	Clydesdale Acquisition Holdings, Inc.(d)	6.63%	04/15/2029		83,664
	70,000	Cogent Communications Group, Inc.(d)	7.00%	06/15/2027		70,415
	30,000	CommScope, Inc.(d)	6.00%	03/01/2026		26,766
	107,000	CommScope, Inc.(d)	8.25%	03/01/2027		56,593
	25,000	CommScope, Inc.(d)	7.13%	07/01/2028		11,900
	108,000	CommScope, Inc.(d)	4.75%	09/01/2029		72,613
	145,000	Compass Group Diversified Holdings LLC(d)	5.25%	04/15/2029		137,128
	70,000	Comstock Resources, Inc.(d)	5.88%	01/15/2030		60,805
	105,000	Consolidated Communications, Inc.(d)	5.00%	10/01/2028		86,214
	23,000	Coty, Inc.(d)	6.50%	04/15/2026		22,989

Principal Amount/Description			Rate	Maturity	Value
$	66,000	Coty, Inc.(d)	5.00%	04/15/2026	$	64,999
	100,000	Coty, Inc.(d)	5.75%	09/15/2028		116,552
	65,000	Coty, Inc./HFC Prestige Products Inc/HFC Prestige International US LLC(d)	6.63%	07/15/2030		66,816
	250,000	CQP Holdco LP / BIP-V Chinook Holdco LLC(d)	7.50%	12/15/2033		259,384
	115,000	Crocs, Inc.(d)	4.25%	03/15/2029		103,128
	35,000	CrownRock LP / CrownRock Finance, Inc.(d)	5.00%	05/01/2029		34,165
	200,000	CSC Holdings LLC(d)	11.25%	05/15/2028		206,213
	115,000	CSC Holdings LLC(d)	5.75%	01/15/2030		71,707
	85,000	CSC Holdings LLC(d)	4.13%	12/01/2030		64,763
	10,000	CSC Holdings LLC(d)	4.50%	11/15/2031		7,573
	25,000	CSC Holdings LLC(d)	5.00%	11/15/2031		15,153
	110,000	Cushman & Wakefield US Borrower LLC(d)	8.88%	09/01/2031		116,658
	120,000	CVR Energy, Inc.(d)	5.75%	02/15/2028		110,825
	20,000	Dana, Inc.	5.38%	11/15/2027		19,880
	30,000	Dana, Inc.	4.25%	09/01/2030		26,628
	195,000	Directv Financing LLC / Directv Financing Co.-Obligor, Inc.(d)	5.88%	08/15/2027		183,377
	35,000	DISH DBS Corp.	7.75%	07/01/2026		24,414
	25,000	DISH DBS Corp.(d)	5.25%	12/01/2026		21,466
	30,000	DISH DBS Corp.(d)	5.75%	12/01/2028		23,984
	55,000	DISH DBS Corp.	5.13%	06/01/2029		28,403
	110,000	DISH Network Corp.(h)	0.00%	12/15/2025		68,750
	65,000	Elastic NV(d)	4.13%	07/15/2029		59,755
	100,000	Emerald Debt Merger Sub LLC(d)	6.38%	12/15/2030		118,387
	50,000	Energy Transfer LP(d)	7.38%	02/01/2031		52,578
	75,000	EnLink Midstream LLC(d)	5.63%	01/15/2028		74,221
	35,000	EnLink Midstream LLC(d)	6.50%	09/01/2030		35,774
	120,000	EnLink Midstream Partners LP	5.05%	04/01/2045		99,487
	180,000	EQM Midstream Partners LP(d)	4.75%	01/15/2031		167,758
	190,000	EquipmentShare.com, Inc.(d)	9.00%	05/15/2028		195,719
	90,000	Everi Holdings, Inc.(d)	5.00%	07/15/2029		81,806
	50,000	Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc.(d)	4.63%	01/15/2029		45,413
	50,000	Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc.(d)	6.75%	01/15/2030		43,957
	10,000	FirstCash, Inc.(d)	4.63%	09/01/2028		9,345
	170,000	FirstCash, Inc.(d)	5.63%	01/01/2030		163,034
	310,000	Ford Motor Co.	3.25%	02/12/2032		257,958
	15,000	Ford Motor Credit Co. LLC	2.90%	02/16/2028		13,480
	75,000	Ford Motor Credit Co. LLC	2.90%	02/10/2029		65,745
	200,000	Ford Motor Credit Co. LLC	4.00%	11/13/2030		179,606
	5,000	Fortress Transportation and Infrastructure Investors LLC(d)	9.75%	08/01/2027		5,205
	200,000	Fortress Transportation and Infrastructure Investors LLC(d)	5.50%	05/01/2028		192,492
	23,000	Fortress Transportation and Infrastructure Investors LLC(d)	7.88%	12/01/2030		23,983
	500,000	Franklin BSP Lending Corp.(d)	4.85%	12/15/2024		486,705
	672,860	Franklin BSP Lending Corp.	3.25%	03/30/2026		621,674
	15,000	Freedom Mortgage Corp.(d)	12.00%	10/01/2028		16,394
	35,000	Freedom Mortgage Corp.(d)	12.25%	10/01/2030		38,449
	195,000	Frontier Communications Holdings LLC(d)	5.00%	05/01/2028		180,394
	1,000,000	FS KKR Capital Corp.	4.13%	02/01/2025		975,439
	1,000	Gen Digital, Inc.(d)	6.75%	09/30/2027		1,018

Principal Amount/Description			Rate	Maturity	Value
$	35,000	Go Daddy Operating Co. LLC / GD Finance Co, Inc.(d)	5.25%	12/01/2027	$	34,329
	55,000	Goodyear Tire & Rubber Co.	9.50%	05/31/2025		55,844
	160,000	Gray Television, Inc.(d)	4.75%	10/15/2030		120,626
	120,000	Greystar Real Estate Partners LLC(d)	7.75%	09/01/2030		125,862
	55,000	GTCR W-2 Merger Sub LLC(d)	7.50%	01/15/2031		58,155
	30,000	Hanesbrands, Inc.(d)	4.88%	05/15/2026		28,959
	140,000	Hanesbrands, Inc.(d)	9.00%	02/15/2031		137,318
	210,000	HAT Holdings I LLC / HAT Holdings II LLC(d)	3.38%	06/15/2026		197,504
	20,000	HAT Holdings I LLC / HAT Holdings II LLC(d)	8.00%	06/15/2027		20,852
	5,000	HAT Holdings I LLC / HAT Holdings II LLC(d)	3.75%	09/15/2030		4,217
	85,000	Hawaiian Brand Intellectual Property, Ltd. / HawaiianMiles Loyalty, Ltd.(d)	5.75%	01/20/2026		80,152
	170,000	Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc(d)	5.00%	06/01/2029		157,040
	80,000	Howard Midstream Energy Partners LLC(d)	8.88%	07/15/2028		84,052
	55,000	HUB International, Ltd.(d)	7.00%	05/01/2026		55,276
	45,000	HUB International, Ltd.(d)	5.63%	12/01/2029		42,986
	80,000	HUB International, Ltd.(d)	7.25%	06/15/2030		84,552
	195,000	Hunt Companies, Inc.(d)	5.25%	04/15/2029		174,219
	145,000	Imola Merger Corp.(d)	4.75%	05/15/2029		137,946
	180,000	Iron Mountain, Inc.(d)	5.25%	03/15/2028		175,117
	15,000	Iron Mountain, Inc.(d)	5.00%	07/15/2028		14,426
	55,000	Iron Mountain, Inc.(d)	7.00%	02/15/2029		56,568
	55,000	Iron Mountain, Inc.(d)	5.25%	07/15/2030		52,417
	135,000	JB Poindexter & Co., Inc.(d)	8.75%	12/15/2031		137,869
	145,000	Kinetik Holdings LP(d)	6.63%	12/15/2028		147,818
	55,000	Kinetik Holdings LP(d)	5.88%	06/15/2030		54,031
	90,000	LABL, Inc.(d)	5.88%	11/01/2028		81,711
	25,000	LABL, Inc.(d)	9.50%	11/01/2028		25,281
	120,000	Legends Hospitality Holding Co. LLC / Legends Hospitality Co-Issuer, Inc.(d)	5.00%	02/01/2026		119,895
	20,000	Level 3 Financing, Inc.(d)	4.63%	09/15/2027		12,019
	15,000	Level 3 Financing, Inc.(d)	4.25%	07/01/2028		7,440
	55,000	Level 3 Financing, Inc.(d)	3.63%	01/15/2029		23,151
	140,000	Level 3 Financing, Inc.(d)	3.75%	07/15/2029		59,630
	50,000	Marriott Ownership Resorts, Inc.	4.75%	01/15/2028		45,973
	200,000	Marriott Ownership Resorts, Inc.(d)	4.50%	06/15/2029		176,471
	110,000	Matador Resources Co.(d)	6.88%	04/15/2028		111,683
	100,000	Medline Borrower LP(d)	3.88%	04/01/2029		90,535
	110,000	Medline Borrower LP(d)	5.25%	10/01/2029		103,831
	60,000	Mercer International, Inc.	5.50%	01/15/2026		57,502
	34,000	MGIC Investment Corp.	5.25%	08/15/2028		33,129
	40,000	MGM Resorts International	6.75%	05/01/2025		40,150
	80,000	Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp.(d)	4.88%	05/01/2029		74,488
	30,000	ModivCare, Inc.(d)	5.88%	11/15/2025		29,659
	100,000	MPH Acquisition Holdings LLC(d)	5.50%	09/01/2028		89,656
	165,000	MPT Operating Partnership LP / MPT Finance Corp.	5.00%	10/15/2027		134,927
	135,000	Nabors Industries, Inc.(d)	9.13%	01/31/2030		135,665
	25,000	Nabors Industries, Ltd.(d)	7.25%	01/15/2026		24,055
	30,000	Nabors Industries, Ltd.(d)	7.50%	01/15/2028		25,974
	65,000	Nationstar Mortgage Holdings, Inc.(d)	6.00%	01/15/2027		64,579
	25,000	Nationstar Mortgage Holdings, Inc.(d)	5.50%	08/15/2028		24,067
	105,000	Nationstar Mortgage Holdings, Inc.(d)	5.75%	11/15/2031		98,053

Principal Amount/Description			Rate	Maturity	Value
$	150,000	NCL Corp., Ltd.(d)	8.13%	01/15/2029	$	156,800
	115,000	NCR Atleos Corp.(d)	9.50%	04/01/2029		122,288
	115,000	NCR Voyix Corp.(d)	5.13%	04/15/2029		109,448
	90,000	NCR Voyix Corp.(d)	5.25%	10/01/2030		82,768
	100,000	Necessity Retail REIT, Inc. / American Finance Operating Partner LP(d)	4.50%	09/30/2028		84,319
	35,000	New Enterprise Stone & Lime Co., Inc.(d)	9.75%	07/15/2028		35,147
	135,000	New Enterprise Stone & Lime Co., Inc.(d)	5.25%	07/15/2028		128,955
	105,000	NextEra Energy Operating Partners LP(d)	7.25%	01/15/2029		109,991
	130,000	NFP Corp.(d)	6.88%	08/15/2028		132,252
	65,000	NFP Corp.(d)	4.88%	08/15/2028		64,386
	105,000	Northern Oil and Gas, Inc.(d)	8.75%	06/15/2031		109,499
	260,000	NRG Energy, Inc.(d)	3.63%	02/15/2031		223,700
	5,000	NuStar Logistics LP	6.00%	06/01/2026		4,996
	28,000	NuStar Logistics LP	6.38%	10/01/2030		28,089
	20,000	Oceaneering International, Inc.	6.00%	02/01/2028		19,408
	155,000	Oceaneering International, Inc.(d)	6.00%	02/01/2028		150,414
	50,000	Olympus Water US Holding Corp.(d)	7.13%	10/01/2027		50,095
	120,000	Olympus Water US Holding Corp.(d)	4.25%	10/01/2028		108,115
	100,000	Olympus Water US Holding Corp.(d)	9.75%	11/15/2028		106,264
	40,000	Olympus Water US Holding Corp.(d)	6.25%	10/01/2029		35,572
	160,000	OneMain Finance Corp.	7.13%	03/15/2026		163,114
	40,000	OneMain Finance Corp.	7.88%	03/15/2030		41,210
	210,000	Open Text Holdings, Inc.(d)	4.13%	02/15/2030		190,289
	165,000	Organon & Co. / Organon Foreign Debt Co-Issuer BV(d)	5.13%	04/30/2031		141,310
	20,000	Outfront Media Capital LLC / Outfront Media Capital Corp.(d)	5.00%	08/15/2027		19,348
	25,000	Owens & Minor, Inc.(d)	4.50%	03/31/2029		22,078
	60,000	Owens & Minor, Inc.(d)	6.63%	04/01/2030		57,364
	55,000	Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co.-Issuer(d)	5.88%	10/01/2028		54,142
	170,000	Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co.-Issuer(d)	4.88%	05/15/2029		157,546
	150,000	Pediatrix Medical Group, Inc.(d)	5.38%	02/15/2030		133,776
	75,000	Performance Food Group, Inc.(d)	5.50%	10/15/2027		73,980
	75,000	Permian Resources Operating LLC(d)	7.75%	02/15/2026		76,367
	35,000	Permian Resources Operating LLC(d)	5.88%	07/01/2029		34,170
	130,000	Permian Resources Operating LLC(d)	7.00%	01/15/2032		134,214
	165,000	Pike Corp.(d)	8.63%	01/31/2031		173,595
	225,000	Post Holdings, Inc.(d)	5.50%	12/15/2029		217,038
	245,000	Prime Security Services Borrower LLC / Prime Finance, Inc.(d)	6.25%	01/15/2028		243,762
	110,000	Primo Water Holdings, Inc.(e)	3.88%	10/31/2028		117,501
	80,000	QVC, Inc.	4.85%	04/01/2024		79,261
	105,000	QVC, Inc.	4.75%	02/15/2027		83,250
	50,000	QVC, Inc.	4.38%	09/01/2028		36,158
	165,000	Railworks Holdings LP / Railworks Rally, Inc.(d)	8.25%	11/15/2028		163,541
	120,000	RHP Hotel Properties LP / RHP Finance Corp.(d)	7.25%	07/15/2028		124,837
	40,000	RLJ Lodging Trust LP(d)	4.00%	09/15/2029		35,986
	75,000	Rocket Mortgage LLC / Rocket Mortgage Co.-Issuer, Inc.(d)	4.00%	10/15/2033		63,801
	5,000	Royal Caribbean Cruises, Ltd.(d)	5.38%	07/15/2027		4,953
	55,000	Royal Caribbean Cruises, Ltd.(d)	5.50%	04/01/2028		54,334

Principal Amount/Description			Rate	Maturity	Value
$	95,000	Royal Caribbean Cruises, Ltd.(d)	7.25%	01/15/2030	$	99,275
	100,000	SCIL IV LLC / SCIL USA Holdings LLC(d)	5.38%	11/01/2026		96,112
	98,000	Sealed Air Corp./Sealed Air Corp US(d)	7.25%	02/15/2031		104,032
	35,000	SEG Holding LLC / SEG Finance Corp.(d)	5.63%	10/15/2028		35,170
	91,000	Service Properties Trust(d)	8.63%	11/15/2031		95,392
	100,000	Silgan Holdings, Inc.	2.25%	06/01/2028		101,914
	85,000	Sirius XM Radio, Inc.(d)	5.50%	07/01/2029		82,273
	245,000	Sirius XM Radio, Inc.(d)	4.13%	07/01/2030		218,636
	40,000	Sirius XM Radio, Inc.(d)	3.88%	09/01/2031		34,269
	80,000	Six Flags Entertainment Corp.(d)	5.50%	04/15/2027		78,271
	95,000	Six Flags Entertainment Corp.(d)	7.25%	05/15/2031		95,354
	15,000	Six Flags Theme Parks, Inc.(d)	7.00%	07/01/2025		15,079
	95,000	Spectrum Brands, Inc.(d)	5.00%	10/01/2029		90,747
	20,000	Spectrum Brands, Inc.(d)	5.50%	07/15/2030		19,430
	90,000	Spectrum Brands, Inc.(d)	3.88%	03/15/2031		82,002
	30,000	Spirit AeroSystems, Inc.	3.85%	06/15/2026		28,865
	110,000	Spirit AeroSystems, Inc.(d)	9.75%	11/15/2030		118,385
	40,000	Standard Industries, Inc.(d)	5.00%	02/15/2027		39,028
	85,000	Standard Industries, Inc.(d)	4.75%	01/15/2028		81,887
	115,000	Summit Materials LLC / Summit Materials Finance Corp.(d)	7.25%	01/15/2031		121,248
	115,000	Talen Energy Supply LLC(d)	8.63%	06/01/2030		122,277
	180,000	Tenet Healthcare Corp.	6.25%	02/01/2027		181,009
	15,000	Tenet Healthcare Corp.	5.13%	11/01/2027		14,674
	55,000	Tenet Healthcare Corp.	6.13%	10/01/2028		54,893
	90,000	Tenet Healthcare Corp.	6.13%	06/15/2030		91,110
	80,000	Tenet Healthcare Corp.(d)	6.75%	05/15/2031		81,864
	135,000	TMS International Corp.(d)	6.25%	04/15/2029		111,558
	70,000	TransDigm, Inc.(d)	6.25%	03/15/2026		69,950
	55,000	TransDigm, Inc.	5.50%	11/15/2027		53,931
	70,000	TransDigm, Inc.	4.63%	01/15/2029		65,765
	70,000	Uber Technologies, Inc.(d)	7.50%	09/15/2027		72,538
	20,000	Uber Technologies, Inc.(d)	6.25%	01/15/2028		20,068
	115,000	Univision Communications, Inc.(d)	6.63%	06/01/2027		114,770
	10,000	Univision Communications, Inc.(d)	7.38%	06/30/2030		9,983
	65,000	US Foods, Inc.(d)	4.63%	06/01/2030		60,637
	95,000	US Foods, Inc.(d)	7.25%	01/15/2032		99,177
	60,000	USA Compression Partners LP / USA Compression Finance Corp.	6.88%	04/01/2026		59,813
	30,000	USA Compression Partners LP / USA Compression Finance Corp.	6.88%	09/01/2027		29,677
	90,000	Venture Global LNG, Inc.(d)	8.13%	06/01/2028		90,973
	110,000	Venture Global LNG, Inc.(d)	9.50%	02/01/2029		116,467
	325,000	Venture Global LNG, Inc.(d)	8.38%	06/01/2031		325,321
	65,000	Vistra Operations Co. LLC(d)	5.00%	07/31/2027		63,325
	40,000	Vistra Operations Co. LLC(d)	7.75%	10/15/2031		41,573
	155,000	Vital Energy, Inc.	9.50%	01/15/2025		155,155
	105,000	Vital Energy, Inc.	10.13%	01/15/2028		107,973
	65,000	Walgreens Boots Alliance, Inc.	4.10%	04/15/2050		47,274
	245,000	WASH Multifamily Acquisition, Inc.(d)	5.75%	04/15/2026		236,035
	50,000	Weatherford International, Ltd.(d)	8.63%	04/30/2030		52,248
	100,000	Weekley Homes LLC / Weekley Finance Corp.(d)	4.88%	09/15/2028		93,352
	180,000	Western Midstream Operating LP	5.50%	08/15/2048		160,786
	70,000	Williams Scotsman, Inc.(d)	7.38%	10/01/2031		73,457
	110,000	Windsor Holdings III LLC(d)	8.50%	06/15/2030		115,091
	95,000	WR Grace Holdings LLC(d)	4.88%	06/15/2027		91,518
	60,000	WR Grace Holdings LLC(d)	5.63%	08/15/2029		52,867
	70,000	Wynn Resorts Finance LLC / Wynn Resorts Capital Corp.(d)	5.13%	10/01/2029		66,144

Principal Amount/Description			Rate	Maturity	Value
$	55,000	Wynn Resorts Finance LLC / Wynn Resorts Capital Corp.(d)	7.13%	02/15/2031	$	57,342
	105,000	Xerox Holdings Corp.(d)	5.00%	08/15/2025		102,959
	140,000	Zayo Group Holdings, Inc.(d)	4.00%	03/01/2027		112,391
	35,000	ZF North America Capital, Inc.(d)	6.88%	04/14/2028		36,291
	35,000	ZF North America Capital, Inc.(d)	7.13%	04/14/2030		37,344
						29,613,059
TOTAL HIGH YIELD DEBT
(Cost $40,062,543)						39,865,658

Shares/Description			Value
WARRANTS - 0.00%(i)
	11	Toys R Us Propco Warrant, Strike Price 0.00, Expires 12/31/2049(a)		–
237		Windstream Holdings Inc. - Pvt Warrant, Strike Price 0.00, Expires 12/31/2049		2,192
TOTAL WARRANTS
(Cost $105,685)				2,192
SHORT-TERM INVESTMENTS - 1.85%
996,150		State Street Institutional Trust (7 Day Yield 5.29%)		996,150
TOTAL SHORT-TERM INVESTMENTS
(Cost $996,150)				996,150
TOTAL INVESTMENTS - 99.15%
(Cost $54,027,410)			$	53,476,152
OTHER ASSETS IN EXCESS OF LIABILITIES - 0.85%				459,452
NET ASSETS - 100.00%			$	53,935,604

Investment Abbreviations:

EURIBOR - Euro Interbank Offered Rate

LIBOR - London Interbank Offered Rate

LLC - Limited Liability Company

LP - Limited Partnership

PLC - Public Limited Company

Rates:

1M US L - 1 Month LIBOR as of December 31, 2023 was 5.47%

3M US L - 3 Month LIBOR as of December 31, 2023 was 5.59%

6M US L - 6 Month LIBOR as of December 31, 2023 was 5.59%

3M EUR L - 3 Month EURIBOR as of December 31, 2023 was 3.91%

6M EUR L - 6 Month EURIBOR as of December 31, 2023 was 3.86%

5Y EUR SWAP - 5 Year Euro ICE Swap Rate as of December 31, 2023 was 2.42%

(a)	The Level 3 assets were a result of unavailable quoted prices from an active market or the unavailability of other significant observable inputs.
(b)	Non-income producing security.
(c)	Variable rate investment. Interest rates reset periodically. Interest rate shown reflects the rate in effect at December 31, 2023. For securities based on a published reference rate and spread, the reference rate and spread are indicated in the description above. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above.

(d)	Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities have been deemed liquid under procedures approved by the Fund's Board of Trustees and may normally be sold to qualified institutional buyers in transactions exempt from registration. Total fair value of Rule 144A securities amounts to $26,027,501, which represents approximately 48.26% of net assets as of December 31, 2023.
(e)	Securities were purchased pursuant to Regulation S under the Securities Act of 1933, as amended, which exempts securities offered and sold outside of the United States from registration. Such securities cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, as amended, or pursuant to an exemption from registration. These securities have been deemed liquid under procedures approved by the Fund's Board of Trustees (the "Board"). As of December 31, 2023, the aggregate fair value of those securities was $3,495,890, representing 6.48% of net assets.
(f)	Security has no contractual maturity date, is not redeemable and contractually pays an indefinite stream of interest.
(g)	Pay-in-kind securities. Rate paid in-kind is shown in parenthesis.
(h)	Issued with a zero coupon.  Income is recognized through the accretion of discount.
(i)	Less than 0.005%.

See Notes to Quarterly Schedule of Investments. 

OUTSTANDING FORWARD FOREIGN CURRENCY CONTRACTS     

Counterparty	Settlement Date	Fund Receiving	U.S. $ Value at December 31, 2023		Fund Delivering	U.S. $ Value at December 31, 2023		Unrealized Appreciation
State Street Corporation	1/5/2024	EUR		88,323	USD		86,405	$	1,918
State Street Corporation	1/5/2024	GBP		127,466	USD		126,013		1,453
State Street Corporation	1/5/2024	USD		56,509	EUR		56,331		178
State Street Corporation	1/5/2024	USD		13,616	GBP		13,603		13
State Street Corporation	1/5/2024	USD		5,367	GBP		5,366		1
								$	3,563
State Street Corporation	1/5/2024	USD		790,790	GBP		798,458		(7,668	)
State Street Corporation	1/5/2024	USD		7,212,155	EUR		7,347,652		(135,497	)
State Street Corporation	1/5/2024	USD		5,036	GBP		5,106		(70	)
State Street Corporation	1/5/2024	USD		70,160	EUR		70,513		(353	)
State Street Corporation	1/5/2024	USD		16,477	EUR		16,561		(84	)
State Street Corporation	1/5/2024	USD		71,101	EUR		71,596		(495	)
								$	(144,167	)

RiverNorth Funds Notes to Quarterly Schedule of Investments

December 31, 2023 (Unaudited)

1. ORGANIZATION 

The RiverNorth Funds (the “Trust” or “Funds”) was established under the laws of Ohio by an Agreement and Declaration of Trust dated July 18, 2006 (the “Trust Agreement”). The Trust is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”). The Trust Agreement permits the Board of Trustees (the “Board” or “Trustees”) to authorize and issue an unlimited number of shares of beneficial interest of a separate series without par value. All classes of shares for each of the Funds have identical rights to earnings, assets and voting privileges, except for class-specific expenses and exclusive rights to vote on matters affecting only individual classes. The Funds are considered investment companies and therefore follow the Investment Company accounting and reporting guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946 Financial Services Investment Companies.

The RiverNorth Core Opportunity Fund (the “Core Opportunity Fund”) was organized as a diversified series of the Trust on July 18, 2006 and commenced investment operations on December 27, 2006. The Core Opportunity Fund offers two series of shares, Class I Shares and Class R Shares. The investment adviser to the Core Opportunity Fund is RiverNorth Capital Management, LLC (the “Adviser”). The investment objective of the Core Opportunity Fund is to seek long-term capital appreciation and income.

The RiverNorth/DoubleLine Strategic Income Fund (the “Strategic Income Fund”) is a diversified series of the Trust and commenced investment operations on December 30, 2010. The Strategic Income Fund offers two series of shares, Class I Shares and Class R Shares. The investment adviser to the Strategic Income Fund is RiverNorth Capital Management, LLC. The Strategic Income Fund’s sub-adviser is DoubleLine Capital, LP (“DoubleLine”). The investment objective of the Strategic Income Fund is current income and overall total return.

The RiverNorth/Oaktree High Income Fund (the “High Income Fund”) is a diversified series of the Trust and commenced investment operations on December 28, 2012. The High Income Fund offers two series of shares, Class I Shares and Class R Shares. The investment adviser to the High Income Fund is RiverNorth Capital Management, LLC. The High Income Fund’s sub-adviser is Oaktree Capital Management, L.P. (“Oaktree Capital,” and with DoubleLine, each a “Sub-Adviser” or collectively, the “Sub-Advisers”). Effective August 10, 2021, as part of an internal corporate reorganization, Oaktree Capital Management, L.P., the Fund’s previous sub-adviser, transferred its sub-advisory agreement with the High Income Fund to Oaktree Capital. The investment objective of the High Income Fund is overall total return consisting of long-term capital appreciation and income.

2. SIGNIFICANT ACCOUNTING POLICIES 

The following is a summary of significant accounting policies followed by the Funds. These policies are in conformity with generally accepted accounting principles in the United States of America (“GAAP”). The financial statements are prepared in accordance with GAAP, which requires management to make estimates and assumptions that affect the reported amounts and disclosures, including the disclosure of contingent assets and liabilities, in the financial statements during the reporting period. Management believes the estimates and security valuations are appropriate; however, actual results may differ from those estimates, and the security valuations reflected in the financial statements may differ from the value the Funds ultimately realize upon sale of the securities. The Schedules of Investments have been prepared as of the close of the New York Stock Exchange (“NYSE”) on December 31, 2023.

Security Valuation:  The Funds’ assets and other financial instruments are recorded at their estimated fair value as described in Note 3.

Security Transactions and Related Income:  The Funds follow industry practice and record security transactions on the trade date basis. The specific identification method is used for determining gains or losses for financial statements and income tax purposes. Dividend income is recorded on the ex-dividend date or for certain foreign securities, when the information becomes available to the Funds and interest income and expenses are recorded on an accrual basis. Discounts and premiums on securities purchased are amortized or accreted using the effective interest method. Withholding taxes on foreign dividends have been provided for in accordance with the Funds’ understanding of the applicable country’s tax rules and rates. The ability of issuers of debt securities held by the Funds to meet their obligations may be affected by economic and political developments in a specific country or region. Settlement on bank loan transactions may be in excess of seven business days. Interest only stripped mortgage backed securities (“IO Strips”) are securities that receive only interest payments from a pool of mortgage loans. Little to no principal will be received by the Funds upon maturity of an IO Strip. Periodic adjustments are recorded to reduce the cost of the security until maturity, which are included in interest income.

Foreign Currency Translation: The books and records of the Funds are maintained in U.S. dollars. Investment valuations and other assets and liabilities initially expressed in foreign currencies are converted each business day into U.S. dollars based upon current exchange rates. Prevailing foreign exchange rates may generally be obtained at the close of the NYSE (normally, 4:00 p.m. Eastern time). The portion of realized and unrealized gains or losses on investments due to fluctuations in foreign currency exchange rates is not separately disclosed and is included in realized and unrealized gains or losses on investments, when applicable.

Foreign Securities: The Funds may directly purchase securities of foreign issuers. Investing in securities of foreign issuers involves special risks not typically associated with investing in securities of U.S. issuers. The risks include possible revaluation of currencies, the ability to repatriate funds, less complete financial information about companies and possible future adverse political and economic developments. Moreover, securities of many foreign issuers and their markets may be less liquid and their prices more volatile than those of securities of comparable U.S. issuers.

Certain foreign countries impose a capital gains tax which is accrued by the Funds based on the unrealized appreciation, if any, on affected securities. Any accrual would reduce a Fund’s net asset value ("NAV"). The tax is paid when the gain is realized and is included in capital gains tax in the Statements of Operations. During the period ended December 31, 2023, no foreign capital gains tax was accrued or paid by the Fund.

Other:  The Funds hold certain investments which pay dividends to their shareholders based upon available funds from operations. It is possible for these dividends to exceed the underlying investments’ taxable earnings and profits resulting in the excess portion of such dividends being designated as a return of capital. Distributions received from investments in securities that represent a return of capital or capital gains are recorded as a reduction of the cost of investments or as a realized gain, respectively. 

Principal Investment Risks: All mutual funds carry a certain amount of risk. For more information on the related risks of investing in the Funds please refer to the prospectus of each Fund.

3. SECURITIES VALUATION AND FAIR VALUE Measurements 

The Funds value their investments at fair value. Fair value is defined as the price that a Fund might reasonably expect to receive upon selling an investment in a timely transaction to an independent buyer in the principal or most advantageous market of the investment. GAAP establishes a three-tier hierarchy to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes.

Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. For example, the risk inherent in a particular valuation technique used to measure fair value including using such a pricing model and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances.

Various inputs are used in determining the value of the Funds’ investments. These inputs are summarized in the three broad levels listed below.

● Level 1 – Unadjusted quoted prices in active markets for identical, unrestricted assets or liabilities that a Fund has the ability to access at the measurement date;

●   Level 2 – Quoted prices which are not active, quoted prices for similar assets or liabilities in active markets or inputs other than quoted prices that are observable (either directly or  indirectly) for substantially the full term of the asset or liability; and

● Level 3 – Significant unobservable prices or inputs (including the Funds’ own assumptions in determining the fair value of investments) where there is little or no market activity for the asset or liability at the measurement date.

The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety, is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

Effective September 8, 2022, and pursuant to the requirements of Rule 2a-5 under the 1940 Act, the Board approved updated valuation procedures for the Funds and designated the Adviser as the Funds’ valuation designee to make all fair valuation determinations with respect to each of the Fund's portfolio investments, subject to the Board's oversight.

Equity securities, including common stocks, rights and warrants, closed-end funds, exchange-traded funds, preferred stocks and business development companies are generally valued by using market quotations, but may be valued on the basis of prices furnished by a pricing service when the Adviser believes such prices more accurately reflect the fair market value of such securities. Securities that are traded on any stock exchange are generally valued by the pricing service at the last quoted sale price. Lacking a last sale price, an exchange traded security is generally valued by the pricing service at its last bid price. Securities traded in the NASDAQ over-the-counter market are generally valued by the pricing service at the NASDAQ Official Closing Price. When using the market quotations or close prices provided by the pricing service and when the market is considered active, the security will be classified as a Level 1 security. Sometimes, an equity security owned by the Funds will be valued by the pricing service with factors other than market quotations or when the market is considered inactive. When this happens, the security will be classified as a Level 2 security. When market quotations are not readily available, when the Adviser determines that the market quotation or the price provided by the pricing service does not accurately reflect the current fair value, or when restricted or illiquid securities are being valued, such securities are valued as determined in good faith by the Adviser in conformity with guidelines adopted by and subject to review by the Board. These securities will be categorized as Level 3 securities.

Futures contracts are normally valued at the final settlement price or official closing price provided by independent pricing services. These securities will be categorized ass Level 1 securities.

Investments in mutual funds, including short term investments and open-end funds, are generally priced at the ending net asset value (NAV) provided by the service agent of the funds. These securities will be categorized as Level 1 securities.

Domestic and foreign fixed income securities, including foreign and U.S. corporate bonds, convertible corporate bonds, U.S. Government bonds and notes, foreign government bonds and notes, supranationals and foreign agencies, non-agency collateralized mortgage obligations, U.S. Government/Agency mortgage backed securities, business development company notes, bank loans, collateralized loan obligations, municipal bonds, and high yield debt, as well as non-exchange traded derivatives, including forward foreign currency contracts, are normally valued on the basis of quotes obtained from brokers and dealers or independent pricing services. Foreign currency positions, including forward foreign currency contracts, are priced at the mean between the closing bid and asked prices at 4:00 p.m. Eastern time. Prices obtained from independent pricing services typically use information provided by market makers or estimates of market values obtained from yield data relating to investments or securities with similar characteristics. Data used to establish quotes includes analysis of cash flows, pre-payment speeds, default rates, delinquency assumptions and assumptions regarding collateral and loss assumptions. These securities will be classified as Level 2 securities.

Short-term investments in fixed income securities, with maturities of less than 60 days when acquired, or which subsequently are within 60 days of maturity, are valued by using the amortized cost method of valuation, which the Board has determined will represent fair value. These securities will be classified as Level 2 securities. 

In accordance with the Funds’ good faith pricing guidelines, the Adviser is required to consider all appropriate factors relevant to the value of securities for which it has determined other pricing sources are not available or reliable as described above. No single standard exists for determining fair value, because fair value depends upon the circumstances of each individual case. As a general principle, the current fair value of an issue of securities being valued by the Adviser would appear to be the amount which the owner might reasonably expect to receive for them upon their current sale. Methods which are in accordance with this principle may, for example, be based on (i) a multiple of earnings; (ii) discounted cash flow models; (iii) weighted average cost or weighted average price; (iv) a discount from market of a similar freely traded security (including a derivative security or a basket of securities traded on other markets, exchanges or among dealers); or (v) yield to maturity with respect to debt issues, or a combination of these and other methods. Good faith pricing is permitted if, in the Adviser’s opinion, the validity of market quotations appears to be questionable based on factors such as evidence of a thin market in the security based on a small number of quotations, a significant event occurs after the close of a market but before a Funds’ NAV calculation that may affect a security’s value, or the Adviser is aware of any other data that calls into question the reliability of market quotations.

Good faith pricing may also be used in instances when the bonds the Funds invest in default or otherwise cease to have market quotations readily available. Investments in foreign securities, junk bonds or other thinly traded securities are more likely to trigger good faith pricing than other securities.

The following is a summary of the inputs used at December 31, 2023 in valuing the Funds’ assets and liabilities:

Core Opportunity Fund

	Valuation Inputs
Investments in Securities at Value*	Level 1		Level 2		Level 3		Total
Closed-End Funds	$	35,958,774	$	–	$	–	$	35,958,774
Common Stocks		1,302,092		–		–		1,302,092
Exchange Traded Funds		3,427,132		–		–		3,427,132
Preferred Stocks		369,648		–		–		369,648
U.S. Corporate Bonds		–		1,555,372		–		1,555,372
U.S. Government Bonds and Notes		–		994,711		–		994,711
Warrants		2,131		–		–		2,131
Short-Term Investments		2,004,302		–		–		2,004,302
Total	$	43,064,079	$	2,550,083	$	–	$	45,614,162

Strategic Income Fund 

	Valuation Inputs
Investments in Securities at Value*	Level 1		Level 2		Level 3			Total
Closed-End Funds	$	237,350,402	$	–	$	–		$	237,350,402
Business Development Companies		–		1,282,474		–			1,282,474
Business Development Companies - Preferred Shares		1,101,881		3,560,309		–			4,662,190
Common Stocks		719,301		461,803		–			1,181,104
Open-End Funds		34,515,469		–		–			34,515,469
Preferred Stocks		13,100,956		–		–			13,100,956
Foreign Corporate Bonds		–		51,482,455		–			51,482,455
U.S. Corporate Bonds		–		120,441,090		–			120,441,090
Foreign Government Bonds and Notes, Supranationals and Foreign Agencies		–		5,062,654		–			5,062,654
Bank Loans		–		16,998,338		–			16,998,338
Collateralized Loan Obligations		–		62,330,708		–			62,330,708
Equity - Linked Notes		–		–		–	***		–
Non-Agency Collateralized Mortgage Obligations		–		209,848,659		–			209,848,659
Special Purpose Acquisition Companies		–		3,559		–			3,559
U.S. Government Bonds and Notes		–		141,339,777		–			141,339,777
Mortgage-Backed Securities		–		30,474,508		–			30,474,508
Municipal Bonds		–		208,737		–			208,737
U.S. Government / Agency Mortgage Backed Securities		–		215,658,454		–			215,658,454
Warrants		–		–		–	***		–
Short-Term Investments		52,095,804		–		–			52,095,804
Total	$	338,883,813	$	859,153,525	$	–		$	1,198,037,338

	Valuation Inputs
Other Financial Instruments**	Level 1		Level 2		Level 3		Total
Liabilities
Future Contracts	$	1,823,322	$	–	$	–	$	1,823,322
Total	$	1,823,322	$	–	$	–	$	1,823,322

High Income Fund

	Valuation Inputs
Investments in Securities at Value*	Level 1		Level 2		Level 3		Total
High Income Fund (continued)
Business Development Companies	$	–	$	1,091,597	$	–	$	1,091,597
Closed-End Funds		3,180,115		–		–		3,180,115
Common Stocks		–		33		88,646		88,679
Bank Loans		–		8,251,761		–		8,251,761
High Yield Debt		–		39,865,658		–		39,865,658
Warrants		–		2,192		–		2,192
Short-Term Investments		996,150		–		–		996,150
Total	$	4,176,265	$	49,211,241	$	88,646	$	53,476,152

	Valuation Inputs
Other Financial Instruments**	Level 1		Level 2			Level 3		Total
Assets
Forward Foreign Currency Contracts	$	–	$	3,563		$	–	$	3,563
Liabilities
Forward Foreign Currency Contracts	$	–	$	(144,167	)	$	–	$	(144,167	)
Total	$	–	$	(140,604	)	$	–	$	(140,604	)

*	Refer to each Fund’s Schedule of Investments for a listing of securities by type.
**	Other financial instruments are derivative instruments reflected in the Summary of Investments.  Futures contracts are reported at their unrealized appreciation/depreciation.
***	Level 3 security has no value.

The changes of the fair value of investments for which the Funds have used Level 3 inputs to determine the fair value are as follows: 

Asset Type	Balance as of September 30, 2023		Accrued Discount/premium		Return of Capital		Realized Gain/(Loss)		Change in Unrealized Appreciation/ Depreciation		Purchases		Sales Proceeds		Transfer into Level 3		Transfer Out of Level 3		Balance as of December 31, 2023		Net change in unrealized appreciation/(depreciation) included in the Statements of Operations attributable to Level 3 investments held at December 31, 2023
Common Stocks	$	85,342	$	-	$	-	$	-	$	3,304	$	-	$	-	$	-	$	-	$	88,646	$	3,304
	$	85,342	$	-	$	-	$	-	$	3,304	$	-	$	-	$	-	$	-	$	88,646	$	3,304

(a)       Transferred from Level 3 to Level 2 because of available, observable market data.

The Table below provides additional information about the Level 3 Fair Value Measurements as of December 31, 2023:

Quantitative Information about Level 3 Fair Value Measurements

High Income Fund

Asset Class	Fair Value (USD)	Valuation Technique	Unobservable Inputs(a)	Value/Range  (Weighted Average)
Common Stocks	$88,646	Market Comparable Companies	EBITDA Multiple	5.75x-6.75x (6.25x)

^(a) A change to the unobservable input may result in a significant change to the value of the investment as follows:

Unobservable Input	Impact to Value if Input Increases	Impact to Value if Input Decreases
EBITDA Multiple	Increase	Decrease

On August 10, 2022 the Board approved the Adviser as each Fund's valuation designee, effective September 8, 2022, to make all fair valuation determinations with respect to each Fund's portfolio investments, subject to the Board's oversight and adopted all other updates pursuant to Rule 2a-5 under the 1940 Act.

4. Derivative Financial Instruments 

The following discloses the Funds’ use of derivative instruments. The Funds’ investment objectives not only permit the Funds to purchase investment securities, they also allow the Funds to enter into various types of derivative contracts such as total return swap contracts and forward foreign currency contracts. In doing so, the Funds will employ strategies in differing combinations to permit them to increase, decrease, or change the level or types of exposure to market factors. Central to those strategies are features inherent to derivatives that make them more attractive for this purpose than equity or debt securities; they require little or no initial cash investment, they can focus exposure on only certain selected risk factors, and they may not require the ultimate receipt or delivery of the underlying security (or securities) to the contract. This may allow the Funds to pursue their objectives more quickly and efficiently than if they were to make direct purchases or sales of securities capable of affecting a similar response to market factors. 

Market Risk Factors: In pursuit of their investment objectives, the Funds may seek to use derivatives to increase or decrease their exposure to the following market risk factors:

Foreign Exchange Rate Risk: Foreign exchange rate risk relates to the change in the U.S. dollar value of a security held that is denominated in a foreign currency. The value of a foreign currency denominated security will decrease as the dollar appreciates against the currency, while the value of the foreign currency denominated security will increase as the dollar depreciates against the currency.

Risk of Investing in Derivatives

The Funds’ use of derivatives can result in losses due to unanticipated changes in the market risk factors and the overall market. Derivatives may have little or no initial cash investment relative to their market value exposure and therefore can produce significant gains or losses in excess of their cost. This use of embedded leverage allows the Funds to increase their market value exposure relative to their net assets and can substantially increase the volatility of the Funds’ performance.

Additional associated risks from investing in derivatives also exist and potentially could have significant effects on the valuation of the derivative and the Funds. Typically, the associated risks are not the risks that the Funds are attempting to increase or decrease exposure to, per their investment objectives, but are the additional risks from investing in derivatives.

In the ordinary course of business, the Funds may enter into transactions subject to enforceable International Swaps and Derivatives Association, Inc. (ISDA) master agreements or other similar arrangements (“netting agreements”). Generally, the right to offset in netting agreements allows each Fund to offset certain securities and derivatives with a specific counterparty, when applicable, as well as any collateral received or delivered to that counterparty based on the terms of the agreements.

Examples of these associated risks are liquidity risk, which is the risk that the Funds will not be able to sell the derivative in the open market in a timely manner, and counterparty credit risk, which is the risk that the counterparty will not fulfill its obligation to the Funds.

Forward Foreign Currency Contracts

The Funds may engage in currency transactions with counterparties to hedge the value of portfolio securities denominated in particular currencies against fluctuations in relative value, to gain or reduce exposure to certain currencies, or to generate income or gains. A forward foreign currency contract is an agreement between two parties to buy and sell a currency at a set price on a future date. During the three months ended December 31, 2023, the High Income Fund engaged in forward foreign currency contracts. The contracts are marked-to-market daily and the change in value is recorded by the High Income Fund as an unrealized gain or loss. When a forward foreign currency contract is extinguished, through either delivery or offset by entering into another forward foreign currency contract, the High Income Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value of the contract at the time it was extinguished.

Forward foreign currency contracts involve elements of market risk. The High Income Fund bears the risk of an unfavorable change in the foreign exchange rate underlying the forward foreign currency contract. Risks may also arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of their contracts.

5. loan participations and assignments 

The Strategic Income Fund and High Income Fund may each invest in direct debt instruments which are interests in amounts owed to lenders or lending syndicates by corporate, governmental, or other borrowers. The Strategic Income Fund and High Income Fund will normally invest in corporate debt issuers in North America and Europe. The Strategic Income Fund’s and High Income Fund’s investments in loans may be in the form of participations in loans or assignments of all or a portion of loans from third parties. A loan is often administered by a bank or other financial institution (the “lender”) that acts as agent for all holders. The agent administers the terms of the loan, as specified in the loan agreement. The Strategic Income Fund and High Income Fund may each invest in multiple series or tranches of a loan, which may have varying terms and carry different associated risks. The Strategic Income Fund and High Income Fund will generally purchase assignments of these loans, in which case they will typically become lenders for purposes of the relevant loan agreement with direct contractual rights against the borrower, including the right to receive payments of principal and interest. When purchasing participation interests in a loan, the Strategic Income Fund and High Income Fund generally have no right to enforce compliance with the terms of the loan agreement with the borrower. As a result, the Strategic Income Fund and High Income Fund may each be subject to the credit risk of both the borrower and the lender that is selling the loan agreement. The Strategic Income Fund and High Income Fund may each enter into unfunded loan commitments, which are contractual obligations for future funding. Unfunded loan commitments represent a future obligation in full, even though a percentage of the notional loan amounts may not be utilized by the borrower. When investing in a loan participation, the Strategic Income Fund and High Income Fund have the right to receive payments of principal, interest and any fees to which they are entitled only from the lender selling the loan agreement and only upon receipt of payments by the lender from the borrower. The Strategic Income Fund and High Income Fund may each receive a commitment fee based on the undrawn portion of the underlying line of credit portion of a floating rate loan. In certain circumstances, the Strategic Income Fund and High Income Fund may each receive a penalty fee upon the prepayment of a floating rate loan by a borrower. Fees earned are recorded as a component of interest income or interest expense, respectively, on the Statements of Operations.

6. AFFILIATED COMPANIES 

Funds may invest in certain securities that are considered securities issued by affiliated companies. As defined by the Investment Company Act of 1940, an affiliated person, including an affiliated company, is one in which a Fund owns 5% or more of the outstanding voting securities, or a company which is under common ownership or control with the Fund. The purchases, sales, dividend income, capital gains, shares and value of investment in affiliated companies for the three months ended December 31, 2023 were as follows:

Security Name	Market Value as of September 30, 2023		Purchases		Sales		Change in Unrealized Gain (Loss)		Realized Gain/Loss		Market Value as of December 31, 2023		Share Balance as of December 31, 2023		Dividends
RiverNorth/Oaktree High Income Fund	$	32,574,784	$	578,362	$	-	$	603,687	$	-	$	34,515,469		3,932,087	$	578,395
								603,687		-		34,515,469				578,395