SHARES | COST | FAIR VALUE | ||||||||||||
Equities — 2.34%*: | ||||||||||||||
Common Stocks — 2.28%*: | ||||||||||||||
Boomerang Tube Holdings, Inc.¤ | 36,149 | $ | 3,510,832 | $ | 0 | |||||||||
ESC CB 144A High Ridge¤ | 2,982 | 0 | 41,748 | |||||||||||
Fieldwood Energy LLC¤ | 167,574 | 4,057,567 | 0 | |||||||||||
Tourmaline Escrow Cash¤+ | 1,197,757 | 0 | 953,097 | |||||||||||
Tourmaline Oil Corp+ | 276,778 | 3,948,373 | 5,268,186 | |||||||||||
Sabine Oil & Gas LLC¤ | 4,342 | 248,858 | 56,446 | |||||||||||
KCA Deutag Ordinary A Shares¤+ | 23,585 | 990,570 | 1,627,365 | |||||||||||
Travelex Private Equity¤+ | 10,120 | 1 | 0 | |||||||||||
Total Common Stocks | 1,719,287 | 12,756,201 | 7,946,842 | |||||||||||
Warrants — 0.06%*: | ||||||||||||||
Travelex Topco Limited Warrant¤+ | 2,218 | 0 | 221,687 | |||||||||||
Total Warrants | 2,218 | 0 | 221,687 | |||||||||||
Total Equities | 1,721,505 | 12,756,201 | 8,168,529 | |||||||||||
EFFECTIVE INTEREST RATE‡ | DUE DATE | PRINCIPAL | COST | FAIR VALUE | ||||||||||
Fixed Income — 138.24%*: | ||||||||||||||
Asset-Backed Securities — 12.21%*: | ||||||||||||||
CDO/CLO — 12.21%*: | ||||||||||||||
610 FDG 2016-2R CLO LTD, 3M LIBOR + 7.250%^ | 7.44 | % | 1/20/2034 | 1,550,000 | $ | 1,534,190 | $ | 1,523,683 | ||||||
Anchorage Capital CLO LTD 2015-6A, 3M LIBOR + 6.350%^~ | 6.59 | 7/15/2030 | 600,000 | $ | 608,002 | $ | 578,078 | |||||||
Anchorage Capital CLO LTD 2016-9A ER, 3M LIBOR + 6.410%^~ | 6.65 | 7/15/2032 | 1,500,000 | 1,455,000 | 1,468,065 | |||||||||
Anchorage Capital CLO LTD 2013-1R, 3M LIBOR + 6.800%^~ | 7.03 | 10/15/2030 | 1,000,000 | 977,213 | 977,237 | |||||||||
Bain Capital Credit CLO 2020-2 E, 3M LIBOR + 6.830%^~ | 7.05 | 7/29/2031 | 1,000,000 | 929,843 | 1,009,488 | |||||||||
Ballyrock CLO LTD 2019-2R, 3M LIBOR + 6.500%^ | 6.68 | 11/20/2030 | 2,000,000 | 2,000,000 | 1,955,632 | |||||||||
BlueMountain CLO LTD 2018-23A, 3M LIBOR + 5.650%^~ | 5.87 | 10/20/2031 | 1,000,000 | 1,000,000 | 940,656 | |||||||||
Canyon CLO LTD 2019-2A, 3M LIBOR + 7.150%^~ | 7.39 | 10/15/2032 | 1,000,000 | 1,000,000 | 1,000,273 | |||||||||
Carbone CLO, LTD 2017-1A, 3M LIBOR + 5.900%^~ | 6.12 | 1/21/2031 | 750,000 | 750,000 | 717,953 | |||||||||
Carlyle Global Market Strategies 2017-5A, 3M LIBOR + 5.300%^~ | 5.52 | 1/22/2030 | 700,000 | 700,000 | 640,751 | |||||||||
Carlyle Global Market Strategies 2019-3 LTD, 3M LIBOR + 7.030%^~ | 7.25 | 10/20/2032 | 1,000,000 | 975,000 | 999,669 | |||||||||
Cedar Funding LTD 2016-6A, 3M LIBOR + 5.900%^~ | 6.12 | 10/20/2028 | 2,500,000 | 2,500,000 | 2,499,603 | |||||||||
CIFC Funding 2020-1 LTD^~ | 7.32 | 7/15/2032 | 1,900,000 | 1,881,000 | 1,904,212 | |||||||||
Galaxy CLO LTD 2017-24A, 3M LIBOR + 5.500%^~ | 5.74 | 1/15/2031 | 1,000,000 | 1,000,000 | 930,949 | |||||||||
GoldenTree Loan Management 2018-3A, 3M LIBOR + 6.500%^~ | 6.72 | 4/22/2030 | 1,500,000 | 1,442,632 | 1,280,183 | |||||||||
GoldenTree Loan Opportunities XI LTD 2015-11A, 3M LIBOR + 5.400%^~ | 5.62 | 1/18/2031 | 500,000 | 500,000 | 473,254 | |||||||||
KKR Financial CLO LTD 2017-20, 3M LIBOR + 5.500%^~ | 5.72 | 10/16/2030 | 1,500,000 | 1,500,000 | 1,361,664 | |||||||||
LCM LTD 2019-30, 3M LIBOR + 6.950%^~ | 7.17 | 4/21/2031 | 1,100,000 | 1,100,000 | 1,099,870 | |||||||||
Madison Park Funding LTD 2015-19A, 3M LIBOR + 4.350%^~ | 4.57 | 1/24/2028 | 1,000,000 | 1,000,000 | 932,900 | |||||||||
Madison Park Funding LTD 2018-29A, 3M LIBOR + 7.570%^~# | 7.79 | 10/18/2030 | 2,000,000 | 1,960,000 | 1,868,896 | |||||||||
Madison Park Funding LTD XXXV 2019-35R E-R, 3M LIBOR + 6.100%^ | 6.29 | 4/20/2032 | 1,400,000 | 1,400,000 | 1,400,000 | |||||||||
Madison Park Funding LTD 2019-32R E-R, 3M LIBOR + 6.200%^ | 6.39 | 1/22/2031 | 1,000,000 | 1,000,000 | 980,431 | |||||||||
Magnetite CLO LTD 2016-18A, 3M LIBOR + 7.600%^~ | 7.79 | 11/15/2028 | 1,400,000 | 1,386,000 | 1,331,179 | |||||||||
Neuberger Berman Loan Advisers CLO LTD, 3M LIBOR + 7.050% ^~ | 7.27 | 7/21/2031 | 800,000 | 792,000 | 802,192 | |||||||||
OCP CLO LTD 2020-19, 3M LIBOR + 6.110% ^~ | 6.33 | 7/21/2031 | 800,000 | 719,952 | 780,656 | |||||||||
OHA Credit Partners LTD 2015-11A, 3M LIBOR + 7.900%^~ | 8.12 | 1/20/2032 | 2,000,000 | 1,970,323 | 1,831,072 | |||||||||
OHA Loan Funding LTD 2013-1A, 3M LIBOR + 7.900%^~ | 8.12 | 7/23/2031 | 1,500,000 | 1,477,500 | 1,386,000 | |||||||||
Sound Point CLO XVIII 2018-18D, 3M LIBOR + 5.500%^~ | 5.72 | 1/21/2031 | 2,000,000 | 2,000,000 | 1,765,468 | |||||||||
Sound Point CLO Ltd Series 2020-1A Class E, 3M LIBOR + 7.080%^~ | 7.39 | 7/22/2030 | 1,600,000 | 1,476,834 | 1,601,315 | |||||||||
TICP CLO LTD 2018-10A, 3M LIBOR + 5.500%^~ | 5.72 | 4/20/2031 | 1,000,000 | 936,755 | 952,477 | |||||||||
Voya CLO LTD 2019-4A, 3M LIBOR + 7.480%^~ | 7.72 | 1/18/2033 | 1,400,000 | 1,358,585 | 1,410,606 | |||||||||
Wellfleet CLO LTD 2017-3A, 3M LIBOR + 5.550%^~ | 5.77 | 1/17/2031 | 1,500,000 | 1,500,000 | 1,364,267 | |||||||||
Wind River 2017-1A ER, 3M LIBOR + 7.060%^ | 7.25 | 4/18/2036 | 2,000,000 | 1,960,000 | 1,960,000 | |||||||||
Wind River CLO LTD 2017-4A, 3M LIBOR + 5.800%^~ | 5.98 | 11/20/2030 | 1,000,000 | 1,000,000 | 932,646 | |||||||||
Total CDO/CLO | 44,500,000 | 43,790,828 | 42,661,322 | |||||||||||
Total Asset-Backed Securities | 44,500,000 | 43,790,828 | 42,661,322 | |||||||||||
EFFECTIVE INTEREST RATE‡ | DUE DATE | PRINCIPAL | COST | FAIR VALUE | ||||||||||
Bank Loans§ — 9.81%*: | ||||||||||||||
Automotive — 0.57%*: | ||||||||||||||
Dexko Global Inc, 3M LIBOR + 8.250%~ | 9.25 | % | 7/24/2025 | 2,000,000 | $ | 2,000,000 | $ | 1,985,000 | ||||||
Total Automotive | 2,000,000 | 2,000,000 | 1,985,000 | |||||||||||
Chemicals, Plastics and Rubber — 0.50%*: | ||||||||||||||
Colouroz Investment 2 LLC, 3M LIBOR + 7.250%+~ | 5.50 | 9/21/2024 | 2,080,872 | 2,073,123 | 1,766,140 | |||||||||
Total Chemicals, Plastics and Rubber | 2,080,872 | 2,073,123 | 1,766,140 | |||||||||||
Diversified/Conglomerate Manufacturing — 0.80%*: | ||||||||||||||
Averys, 3M LIBOR + 8.250%+~ | 8.25 | 9/25/2026 | 500,000 | 571,943 | 536,512 | |||||||||
Commercial Vehicle Group Inc., 1M LIBOR + 6.000%~ | 5.75 | 4/12/2023 | 0 | (449) | 0 | |||||||||
SunSource, Inc., 1M LIBOR + 8.000%~ | 9.00 | 4/30/2026 | 2,500,000 | 2,514,308 | 2,252,500 | |||||||||
Total Diversified/Conglomerate Manufacturing | 3,000,000 | 3,085,802 | 2,789,012 | |||||||||||
Diversified/Conglomerate Service — 7.25%*: | ||||||||||||||
Syncsort Incorporated (Precisely) 2ND Lien T/L, 3M LIBOR + 7.250% | 8.00 | 3/19/2029 | 9,009,009 | 8,918,919 | 9,001,532 | |||||||||
Misys (Finastra), 3M LIBOR + 7.250%~ | 8.25 | 6/16/2025 | 16,290,136 | 16,173,195 | 16,351,224 | |||||||||
Total Diversified/Conglomerate Service | 25,299,145 | 25,092,114 | 25,352,756 | |||||||||||
Healthcare, Education and Childcare — 0.00%*: | ||||||||||||||
Advanz Pharma Corp., 1M LIBOR + 5.500%+~ | 6.50 | 9/6/2024 | 0 | (2,945) | 0 | |||||||||
Envision Healtcare, 1M LIBOR + 3.750%~ | 3.87 | 10/10/2025 | 0 | (32,012) | 0 | |||||||||
Total Healthcare, Education and Childcare | 0 | -34,957 | 0 | |||||||||||
Leisure, Amusement, Entertainment — 0.10%*: | ||||||||||||||
Odeon Cinemas Group T/L B 2 | 10.75 | 8/11/2023 | 185,000 | 216,643 | 219,120 | |||||||||
Odeon Cinemas Group T/L B | 10.75 | 8/11/2023 | 87,500 | 116,689 | 121,834 | |||||||||
Total Leisure, Amusement, Entertainment | 272,500 | 333,332 | 340,954 | |||||||||||
Mining, Steel, Iron and Non-Precious Metals — 0.00%*: | ||||||||||||||
Boomerang Tube, LLC, 3M LIBOR + 6.500%¤~ | 0.00 | 6/30/2022 | 2,608,648 | 2,608,648 | 0 | |||||||||
Total Mining, Steel, Iron and Non-Precious Metals | 2,608,648 | 2,608,648 | 0 | |||||||||||
Oil and Gas — 0.10%*: | ||||||||||||||
Fieldwood Energy LLC, 1M LIBOR + 7.250%~ | 0.00 | 4/11/2023 | 7,481,592 | 2,720,500 | 346,024 | |||||||||
Total Oil and Gas | 7,481,592 | 2,720,500 | 346,024 | |||||||||||
Personal Transportation — 0.09%*: | ||||||||||||||
Naviera Armas Bridge, 1M LIBOR + 2.500%¤+~ | 2.37 | 4/30/2021 | 106,472 | 128,522 | 122,363 | |||||||||
Naviera Armas Bridge, 1M LIBOR + 2.500%¤+~ | 5.00 | 4/30/2021 | 60,543 | 73,027 | 69,579 | |||||||||
Naviera Armas Bridge, 1M LIBOR + 2.500%¤+~ | 5.00 | 7/31/2021 | 112,737 | 127,560 | 129,563 | |||||||||
Total Personal Transportation | 279,751 | 329,109 | 321,504 | |||||||||||
Telecommunications — 0.40%*: | ||||||||||||||
Syniverse Holdings T/L, 3M LIBOR + 5.000% | 6.00 | 3/9/2023 | 1,427,359 | 1,313,170 | 1,406,106 | |||||||||
Total Telecommunications | 1,427,359 | 1,313,170 | 1,406,106 | |||||||||||
Total Bank Loans | 44,449,868 | 39,520,841 | 34,307,496 | |||||||||||
EFFECTIVE INTEREST RATE‡ | DUE DATE | PRINCIPAL | COST | FAIR VALUE | ||||||||||
Corporate Bonds — 116.22%*: | ||||||||||||||
Aerospace and Defense — 4.21%*: | ||||||||||||||
TransDigm Group, Inc.# | 7.50 | % | 3/15/2027 | 6,000,000 | $ | 6,022,172 | $ | 6,390,000 | ||||||
Triumph Group, Inc.# | 7.75 | 8/15/2025 | 8,289,000 | 8,292,874 | 8,330,445 | |||||||||
Total Aerospace and Defense | 14,289,000 | 14,315,046 | 14,720,445 | |||||||||||
Automotive — 5.25%*: | ||||||||||||||
AA Bond Co. Ltd.+^ | 6.50 | 1/31/2026 | 1,350,000 | 1,843,683 | 1,919,279 | |||||||||
Aston Martin Capital Holdings Ltd+^ | 10.50 | 11/30/2025 | 850,000 | 926,642 | 938,761 | |||||||||
Ford Motor Company# | 9.63 | 4/22/2030 | 2,000,000 | 2,590,998 | 2,791,080 | |||||||||
Ford Motor Company# | 7.45 | 7/16/2031 | 2,000,000 | 2,321,600 | 2,521,660 | |||||||||
Power Solutions^# | 8.50 | 5/15/2027 | 8,965,000 | 9,056,718 | 9,653,153 | |||||||||
Real Hero Merger Sub 2 Inc.^ | 6.25 | 2/1/2029 | 499,000 | 499,000 | 515,218 | |||||||||
Total Automotive | 15,664,000 | 17,238,641 | 18,339,151 | |||||||||||
Beverage, Food and Tobacco — 2.12%*: | ||||||||||||||
Boparan Finance PLC+^ | 7.63 | 11/30/2025 | 750,000 | 1,037,046 | 1,017,929 | |||||||||
Kehe Distributors, LLC^# | 8.63 | 10/15/2026 | 1,159,000 | 1,159,000 | 1,289,388 | |||||||||
Manitowoc Foodservice# | 9.50 | 2/15/2024 | 3,074,000 | 3,186,482 | 3,166,220 | |||||||||
Refresco Group N.V.+^# | 6.50 | 5/15/2026 | 1,600,000 | 1,931,865 | 1,941,998 | |||||||||
Total Beverage, Food and Tobacco | 6,583,000 | 7,314,393 | 7,415,534 | |||||||||||
Broadcasting and Entertainment — 6.74%*: | ||||||||||||||
Arqiva Broadcast+^# | 6.75 | 9/30/2023 | 2,400,000 | 3,037,737 | 3,416,188 | |||||||||
Banijay+^# | 6.50 | 3/1/2026 | 2,500,000 | 2,761,119 | 2,984,350 | |||||||||
Beasley Mezzanine Holdings LLC^# | 8.63 | 2/1/2026 | 1,801,000 | 1,801,000 | 1,810,005 | |||||||||
Clear Channel Worldwide Holdings Inc.# | 9.25 | 2/15/2024 | 4,664,000 | 4,900,090 | 4,851,959 | |||||||||
Clear Channel Worldwide Holdings Inc.^# | 7.75 | 4/15/2028 | 2,568,000 | 2,595,339 | 2,545,735 | |||||||||
Cox Media Group^# | 8.88 | 12/15/2027 | 3,837,000 | 3,994,426 | 4,128,804 | |||||||||
Dish DBS Corp.# | 7.75 | 7/1/2026 | 673,000 | 614,034 | 741,310 | |||||||||
iHeartCommunications, Inc.# | 8.38 | 5/1/2027 | 570,000 | 609,525 | 612,038 | |||||||||
Univision Communications Inc.^# | 9.50 | 5/1/2025 | 2,234,000 | 2,469,130 | 2,446,230 | |||||||||
Total Broadcasting and Entertainment | 21,247,000 | 22,782,401 | 23,536,618 | |||||||||||
Buildings and Real Estate — 3.10%*: | ||||||||||||||
New Enterprise Stone & Lime Co.^# | 9.75 | 7/15/2028 | 665,000 | 665,000 | 744,800 | |||||||||
Realogy Group^# | 9.38 | 4/1/2027 | 3,763,000 | 3,590,847 | 4,167,461 | |||||||||
Realogy Group^ | 7.63 | 6/15/2025 | 329,000 | 329,000 | 359,202 | |||||||||
Service Properties Trust | 4.38 | 2/15/2030 | 400,000 | 349,011 | 367,480 | |||||||||
Stl Hldg Co LLC^# | 7.50 | 2/15/2026 | 4,981,000 | 5,022,597 | 5,180,240 | |||||||||
Total Buildings and Real Estate | 10,138,000 | 9,956,455 | 10,819,183 | |||||||||||
Cargo Transport — 2.89%*: | ||||||||||||||
Kenan Advantage^# | 7.88 | 7/31/2023 | 10,125,000 | 10,155,516 | 10,099,688 | |||||||||
Total Cargo Transport | 10,125,000 | 10,155,516 | 10,099,688 | |||||||||||
Chemicals, Plastics and Rubber — 3.16%*: | ||||||||||||||
Consolidated Energy Finance S.A.^# | 6.88 | 6/15/2025 | 3,560,000 | 3,432,686 | 3,626,750 | |||||||||
Consolidated Energy Finance S.A.^# | 6.50 | 5/15/2026 | 2,799,000 | 2,058,891 | 2,797,251 | |||||||||
CVR Partners LP^# | 9.25 | 6/15/2023 | 4,576,000 | 4,544,302 | 4,616,040 | |||||||||
Total Chemicals, Plastics and Rubber | 10,935,000 | 10,035,879 | 11,040,041 | |||||||||||
Containers, Packaging, and Glass — 3.59%*: | ||||||||||||||
Mauser Packaging Solutions^# | 7.25 | 4/15/2025 | 4,067,000 | 3,954,491 | 4,067,000 | |||||||||
Tekni-Plex^# | 9.25 | 8/1/2024 | 8,000,000 | 7,908,361 | 8,480,000 | |||||||||
Total Containers, Packaging, and Glass | 12,067,000 | 11,862,853 | 12,547,000 | |||||||||||
Diversified/Conglomerate Manufacturing — 1.58%*: | ||||||||||||||
Heat Exchangers+^ | 7.78 | 10/9/2025 | 625,000 | 659,223 | 625,748 | |||||||||
Manitowoc Cranes^# | 9.00 | 4/1/2026 | 4,538,000 | 4,545,698 | 4,895,368 | |||||||||
Total Diversified/Conglomerate Manufacturing | 5,163,000 | 5,204,921 | 5,521,115 | |||||||||||
EFFECTIVE INTEREST RATE‡ | DUE DATE | PRINCIPAL | COST | FAIR VALUE | ||||||||||
Corporate Bonds (continued) | ||||||||||||||
Diversified/Conglomerate Service — 4.92%*: | ||||||||||||||
Algeco Scotsman+^# | 6.50 | % | 2/15/2023 | 1,750,000 | $ | 2,144,349 | $ | 2,084,149 | ||||||
Carlson Travel Holdings Inc.^# | 11.50 | 12/15/2026 | 6,078,253 | 6,086,158 | 4,619,472 | |||||||||
Powerteam Services LLC^# | 9.03 | 12/4/2025 | 2,750,000 | 2,978,872 | 3,053,325 | |||||||||
Summer BC Holdco+^ | 9.25 | 10/31/2027 | 2,477,880 | 3,085,660 | 3,123,756 | |||||||||
Verisure Midholding+^ | 5.25 | 2/15/2029 | 3,575,000 | 4,325,356 | 4,330,767 | |||||||||
Total Diversified/Conglomerate Service | 16,631,133 | 18,620,395 | 17,211,469 | |||||||||||
Diversified Natural Resources, Precious Metals and Minerals — 0.00%*: | ||||||||||||||
Northwest Acquisitions ULC+^ | 7.13 | 11/1/2022 | 16,122,000 | 12,424,805 | 1,612 | |||||||||
Total Diversified Natural Resources, Precious Metals and Minerals | 16,122,000 | 12,424,805 | 1,612 | |||||||||||
Electronics — 6.16%*: | ||||||||||||||
Solera LLC^# | 10.50 | 3/1/2024 | 1,000,000 | 1,046,809 | 1,033,100 | |||||||||
Veritas Bermuda Ltd.^# | 10.50 | 2/1/2024 | 17,957,000 | 16,305,778 | 18,383,479 | |||||||||
Veritas Bermuda Ltd.^# | 7.50 | 9/1/2025 | 2,024,000 | 2,024,000 | 2,104,960 | |||||||||
Total Electronics | 20,981,000 | 19,376,587 | 21,521,539 | |||||||||||
Finance — 4.44%*: | ||||||||||||||
Alliance Data Systems Corp.^# | 7.00 | 1/15/2026 | 2,000,000 | 1,992,500 | 2,140,400 | |||||||||
Avolon Holdings^# | 6.50 | 9/15/2024 | 8,512,391 | 6,776,745 | 8,163,383 | |||||||||
Galaxy Bidco Ltd.+^# | 6.50 | 7/31/2026 | 1,000,000 | 1,294,855 | 1,458,980 | |||||||||
Garfunkelux Holdco+^ | 6.75 | 11/1/2025 | 450,000 | 533,833 | 545,389 | |||||||||
Travelex¤+^ | 12.50 | 8/5/2025 | 1,326,504 | 1,584,082 | 3,200,273 | |||||||||
Travelex¤+^# | 8.00 | 5/15/2022 | 4,600,000 | 5,097,344 | 0 | |||||||||
Total Finance | 17,888,895 | 17,279,359 | 15,508,424 | |||||||||||
Healthcare, Education and Childcare — 8.21%*: | ||||||||||||||
Advanz Pharma Corp.+^ | 8.00 | 9/6/2024 | 3,743,000 | 3,684,730 | 3,836,201 | |||||||||
Bausch Health Companies Inc.^# | 9.00 | 12/15/2025 | 11,045,000 | 11,251,666 | 11,997,631 | |||||||||
Cidron Aida Finco+ | 6.25 | 4/1/2028 | 1,650,000 | 2,275,266 | 2,297,448 | |||||||||
Community Health System Inc.^ | 6.88 | 4/15/2029 | 286,000 | 286,000 | 298,942 | |||||||||
Endo International^# | 7.50 | 4/1/2027 | 1,890,000 | 1,890,000 | 2,009,448 | |||||||||
Endo Designated Activity Company^ | 9.50 | 7/31/2027 | 1,000,000 | 1,099,146 | 1,086,250 | |||||||||
Endo Designated Activity Company^ | 6.00 | 6/30/2028 | 1,500,000 | 1,323,939 | 1,215,000 | |||||||||
Radiology Partners Inc.^# | 9.25 | 2/1/2028 | 2,586,000 | 2,774,784 | 2,815,508 | |||||||||
Verscend Technologies, Inc.^# | 9.75 | 8/15/2026 | 2,915,000 | 3,066,067 | 3,125,521 | |||||||||
Total Healthcare, Education and Childcare | 26,615,000 | 27,651,598 | 28,681,948 | |||||||||||
Home and Office Furnishings, Housewares, and Durable Consumer Products — 1.43%*: | ||||||||||||||
Balta+^ | 8.75 | 12/31/2024 | 1,345,900 | 1,488,945 | 1,572,424 | |||||||||
BCPE Ulysses Intermediate Inc^# | 7.75 | 4/1/2027 | 3,315,000 | 3,352,956 | 3,439,313 | |||||||||
Total Home and Office Furnishings, Housewares, and Durable Consumer Products | 4,660,900 | 4,841,901 | 5,011,736 | |||||||||||
Hotels, Motels, Inns and Gaming — 1.63%*: | ||||||||||||||
Boyne USA, Inc.^# | 7.25 | 5/1/2025 | 950,000 | 950,000 | 987,525 | |||||||||
Scientific Games International Inc.^# | 8.63 | 7/1/2025 | 4,325,000 | 4,411,573 | 4,702,140 | |||||||||
Total Hotels, Motels, Inns and Gaming | 5,275,000 | 5,361,573 | 5,689,665 | |||||||||||
Insurance — 1.51%*: | ||||||||||||||
Acrisure LLC^# | 10.13 | 8/1/2026 | 4,575,000 | 4,724,869 | 5,272,688 | |||||||||
Total Insurance | 4,575,000 | 4,724,869 | 5,272,688 | |||||||||||
EFFECTIVE INTEREST RATE‡ | DUE DATE | PRINCIPAL | COST | FAIR VALUE | ||||||||||
Corporate Bonds (continued) | ||||||||||||||
Leisure, Amusement, Entertainment — 3.04%*: | ||||||||||||||
AMC Entertainment Holdings Inc^ | 10.50 | % | 4/15/2025 | 227,000 | $ | 226,433 | $ | 241,188 | ||||||
AMC Entertainment Holdings Inc^# | 10.50 | 4/24/2026 | 814,000 | 810,900 | 860,805 | |||||||||
Carnival Corp.^ | 7.63 | 3/1/2026 | 1,000,000 | 1,185,944 | 1,267,745 | |||||||||
Center Parcs+^ | 6.50 | 8/28/2026 | 1,150,000 | 1,608,834 | 1,672,722 | |||||||||
Eldorado Resorts^# | 8.13 | 7/1/2027 | 4,000,000 | 3,896,677 | 4,412,800 | |||||||||
Motion Finco+^ | 7.00 | 5/15/2025 | 1,750,000 | 1,931,831 | 2,162,540 | |||||||||
Total Leisure, Amusement, Entertainment | 8,941,000 | 9,660,619 | 10,617,799 | |||||||||||
Machinery (Non-Agriculture, Non-Construct, Non-Electronic) — 4.19%*: | ||||||||||||||
Diebold Nixdorf Inc.^# | 9.38 | 7/15/2025 | 5,577,000 | 5,928,346 | 6,211,384 | |||||||||
Diebold Nixdorf Inc.^ | 9.00 | 7/15/2025 | 815,000 | 958,582 | 1,054,248 | |||||||||
Diebold Nixdorf Inc.# | 8.50 | 4/15/2024 | 2,260,000 | 2,307,978 | 2,308,590 | |||||||||
Granite Holdings US Acquisition Co.^# | 11.00 | 10/1/2027 | 1,000,000 | 1,122,569 | 1,127,500 | |||||||||
Sarens+^# | 5.75 | 2/21/2027 | 1,625,000 | 1,783,930 | 1,864,673 | |||||||||
Titan Acquisition Ltd / Titan Co-Borrower LLC+^# | 7.75 | 4/15/2026 | 2,000,000 | 2,073,046 | 2,079,600 | |||||||||
Total Machinery (Non-Agriculture, Non-Construct, Non-Electronic) | 13,277,000 | 14,174,451 | 14,645,995 | |||||||||||
Mining, Steel, Iron and Non-Precious Metals — 14.95%*: | ||||||||||||||
Cleveland-Cliffs Inc.^# | 9.88 | 10/17/2025 | 3,970,000 | 4,342,909 | 4,651,054 | |||||||||
Consol Energy Inc.^# | 11.00 | 11/15/2025 | 10,316,000 | 10,669,529 | 9,568,090 | |||||||||
First Quantum Minerals+^# | 7.25 | 4/1/2023 | 2,000,000 | 1,950,809 | 2,035,000 | |||||||||
First Quantum Minerals+^# | 7.50 | 4/1/2025 | 9,775,000 | 9,441,567 | 10,092,688 | |||||||||
First Quantum Minerals+^ | 6.88 | 10/15/2027 | 200,000 | 200,000 | 214,500 | |||||||||
Hecla Mining Company# | 7.25 | 2/15/2028 | 4,699,000 | 5,098,099 | 5,039,678 | |||||||||
Perenti Finance Pty Ltd+^# | 6.50 | 10/7/2025 | 2,500,000 | 2,500,000 | 2,641,127 | |||||||||
PIC AU Holdings LLC^ | 10.00 | 12/31/2024 | 6,043,000 | 5,423,806 | 5,544,453 | |||||||||
SunCoke Energy Inc.^# | 7.50 | 6/15/2025 | 5,743,000 | 5,720,325 | 5,965,541 | |||||||||
United States Steel Corp.# | 6.88 | 3/1/2029 | 2,834,000 | 2,804,000 | 2,904,850 | |||||||||
Warrior Met Coal Inc.^# | 8.00 | 11/1/2024 | 3,513,000 | 3,583,691 | 3,600,825 | |||||||||
Total Mining, Steel, Iron and Non-Precious Metals | 51,593,000 | 51,734,734 | 52,257,805 | |||||||||||
Oil and Gas — 19.12%*: | ||||||||||||||
Antero Resources Corp.^ | 8.38 | 7/15/2026 | 451,000 | 452,547 | 497,228 | |||||||||
Antero Resources Corp.^ | 7.63 | 2/1/2029 | 1,907,000 | 2,023,932 | 2,030,955 | |||||||||
Calumet Specialty Products^# | 11.00 | 4/15/2025 | 1,030,000 | 1,060,603 | 1,081,500 | |||||||||
Calumet Specialty Products^# | 9.25 | 7/15/2024 | 2,850,000 | 2,754,085 | 3,092,250 | |||||||||
CGG+^ | 8.75 | 4/1/2027 | 2,136,000 | 2,136,000 | 2,152,447 | |||||||||
CGG SA+^ | 7.75 | 4/1/2027 | 2,500,000 | 2,978,389 | 2,917,102 | |||||||||
Comstock Resources Inc# | 9.75 | 8/15/2026 | 600,000 | 651,595 | 652,500 | |||||||||
CVR Energy Inc.^# | 5.75 | 2/15/2028 | 3,850,000 | 3,318,754 | 3,744,125 | |||||||||
Enlink Midstream Partners LP | 4.85 | 7/15/2026 | 200,000 | 175,582 | 193,206 | |||||||||
Enlink Midstream Partners LP | 5.60 | 4/1/2044 | 5,413,000 | 3,557,581 | 4,492,790 | |||||||||
Enlink Midstream Partners LP | 5.45 | 6/1/2047 | 1,000,000 | 854,050 | 806,620 | |||||||||
Genesis Energy LP# | 7.75 | 2/1/2028 | 3,408,000 | 3,119,241 | 3,409,022 | |||||||||
Genesis Energy LP# | 8.00 | 1/15/2027 | 1,639,000 | 1,636,951 | 1,659,520 | |||||||||
Harvest Midstream I L P^ | 7.50 | 9/1/2028 | 458,000 | 458,000 | 492,213 | |||||||||
Hilcorp Energy I L P^# | 6.25 | 11/1/2028 | 3,202,000 | 2,788,688 | 3,298,060 | |||||||||
KCA Deutag+^ | 9.88 | 12/1/2025 | 1,179,286 | 1,179,286 | 1,289,846 | |||||||||
Laredo Petroleum Inc.# | 10.13 | 1/15/2028 | 2,765,000 | 2,670,666 | 2,650,280 | |||||||||
MEG Energy Corp.+^# | 7.13 | 2/1/2027 | 2,698,000 | 2,527,521 | 2,826,155 | |||||||||
Neptune Energy Bondco PLC^# | 6.63 | 5/15/2025 | 4,856,000 | 4,475,817 | 4,874,210 | |||||||||
NGL Energy Finance Corp^# | 7.50 | 2/1/2026 | 524,000 | 524,000 | 537,658 | |||||||||
Occidental Pete Corp.# | 8.50 | 7/15/2027 | 4,523,000 | 4,571,772 | 5,359,755 | |||||||||
Occidental Pete Corp.# | 7.88 | 9/15/2031 | 2,500,000 | 2,656,518 | 2,937,500 | |||||||||
Occidental Pete Corp. | 4.50 | 7/15/2044 | 586,000 | 436,552 | 498,100 | |||||||||
Ovintiv Inc.# | 6.50 | 8/15/2034 | 500,000 | 478,054 | 601,198 | |||||||||
Ovintiv Inc.# | 6.50 | 2/1/2038 | 2,000,000 | 1,837,871 | 2,418,263 | |||||||||
PBF Holding Co LLC^# | 9.25 | 5/15/2025 | 1,196,000 | 1,188,122 | 1,219,531 | |||||||||
PBF Holding Co LLC | 6.00 | 2/15/2028 | 6,000,000 | 4,963,307 | 4,432,500 | |||||||||
Range Resources Corp^ | 8.25 | 1/15/2029 | 494,000 | 501,294 | 528,580 | |||||||||
Southwestern Energy Co. | 8.38 | 9/15/2028 | 449,000 | 449,000 | 492,778 | |||||||||
Welltec A/S+^# | 9.50 | 12/1/2022 | 5,713,000 | 5,680,233 | 5,627,305 | |||||||||
Total Oil and Gas | 66,627,286 | 62,106,010 | 66,813,197 | |||||||||||
Personal Transportation — 1.32%*: | ||||||||||||||
American Airlines^# | 11.75 | 7/15/2025 | 3,337,000 | 3,361,754 | 4,125,366 | |||||||||
Naviera Armas, 3M EURIBOR + 4.250%+^~ | 4.25 | 11/15/2024 | 150,000 | 127,479 | 107,060 | |||||||||
Naviera Armas, 3M EURIBOR + 6.500%+^~ | 6.50 | 7/31/2023 | 525,000 | 608,346 | 368,552 | |||||||||
Total Personal Transportation | 4,012,000 | 4,097,578 | 4,600,978 | |||||||||||
EFFECTIVE INTEREST RATE‡ | DUE DATE | PRINCIPAL | COST | FAIR VALUE | ||||||||||
Corporate Bonds (continued) | ||||||||||||||
Printing and Publishing — 2.52%*: | ||||||||||||||
Cimpress N.V.^# | 7.00 | % | 6/15/2026 | 2,069,000 | $ | 2,069,000 | $ | 2,184,243 | ||||||
Houghton Mifflin Harcourt Publishers Inc.^# | 9.00 | 2/15/2025 | 3,000,000 | 2,952,289 | 3,210,000 | |||||||||
McGraw Hill LLC / McGraw-Hill Global Education Finance Inc^# | 8.00 | 11/30/2024 | 3,369,000 | 3,411,502 | 3,398,647 | |||||||||
Total Printing and Publishing | 8,438,000 | 8,432,792 | 8,792,891 | |||||||||||
Retail Store — 1.63%*: | ||||||||||||||
At Home Holding III INC^# | 8.75 | 9/1/2025 | 2,000,000 | 2,098,320 | 2,182,500 | |||||||||
Casino Guichard Perracho+^ | 6.63 | 1/15/2026 | 1,050,000 | 1,279,474 | 1,302,141 | |||||||||
Michaels Stores Inc.^# | 8.00 | 7/15/2027 | 2,000,000 | 2,101,100 | 2,210,000 | |||||||||
Total Retail Store | 5,050,000 | 5,478,894 | 5,694,641 | |||||||||||
Telecommunications — 8.51%*: | ||||||||||||||
Altice France Holding S.A.^# | 10.50 | 5/15/2027 | 2,000,000 | 2,243,029 | 2,251,900 | |||||||||
BMC Software^# | 9.75 | 9/1/2026 | 9,682,000 | 9,556,943 | 10,316,926 | |||||||||
Commscope Inc.^# | 8.25 | 3/1/2027 | 11,673,000 | 11,689,538 | 12,490,110 | |||||||||
Consolidated Communications^# | 6.50 | 10/1/2028 | 832,000 | 832,000 | 898,668 | |||||||||
Digicel Limited ¤+^# | 8.25 | 9/30/2020 | 2,500,000 | 2,491,364 | 0 | |||||||||
Northwest Fiber LLC^# | 10.75 | 6/1/2028 | 1,206,000 | 1,329,109 | 1,362,418 | |||||||||
Uniti Group LP / Uniti Group Finance Inc.^ | 6.50 | 2/15/2029 | 330,000 | 330,000 | 328,020 | |||||||||
Viasat^ | 6.50 | 7/15/2028 | 790,000 | 790,000 | 831,917 | |||||||||
Windstream Escrow LLC^# | 7.75 | 8/15/2028 | 1,251,000 | 1,246,000 | 1,271,329 | |||||||||
Total Telecommunications | 30,264,000 | 30,507,983 | 29,751,289 | |||||||||||
Total Corporate Bonds | 407,162,213 | 405,340,254 | 406,112,450 | |||||||||||
Total Fixed Income | 496,112,081 | 488,651,923 | 483,081,269 | |||||||||||
Total Investments | 497,833,586 | 501,408,124 | 491,249,798 | |||||||||||
Other assets and liabilities — (40.58)% | (141,810,939) | |||||||||||||
Net Assets — 100% | $ | 349,438,859 | ||||||||||||
‡ | The effective interest rates are based on settled commitment amount. | |||||||||||||
* | Calculated as a percentage of net assets applicable to common shareholders. | |||||||||||||
¤ | Value determined using significant unobservable inputs, security is categorized as Level 3. | |||||||||||||
+ | Foreign security. | |||||||||||||
^ | Security exempt from registration under Rule 144a of the Securities Act of 1933. These securities may only be resold in transactions exempt from registration, normally to qualified institutional buyers. | |||||||||||||
~ | Variable rate security. The interest rate shown is the rate in effect at March 31, 2021. | |||||||||||||
# | All or a portion of the security is segregated as collateral for the credit facility. | |||||||||||||
§ | Bank loans are exempt from registration under the Securities Act of 1933, as amended, but contain certain restrictions on resale and cannot be sold publicly. These loans pay interest at rates which adjust periodically. The interest rates shown for bank loans are the current interest rates at March 31, 2021. Bank loans are also subject to mandatory and/or optional prepayment which cannot be predicted. As a result, the remaining maturity may be substantially less than the stated maturity shown. | |||||||||||||
Distributions of investments by country of risk. Percentage of assets are expressed by market value excluding cash and accrued income as of March 31, 2021. | ||||||||||||||
United States | 79.4% | |||||||||||||
United Kingdom | 6.9% | |||||||||||||
France | 2.9% | |||||||||||||
Canada | 2.9% | |||||||||||||
Zambia | 2.5% | |||||||||||||
Australia | 1.7% | |||||||||||||
Denmark | 1.1% | |||||||||||||
Sweden | 0.9% | |||||||||||||
Belgium | 0.7% | |||||||||||||
(Individually less than 1%) | 1.0% | |||||||||||||
100.0% |
A summary of outstanding derivatives at March 31, 2021 is as follows: | |||||||||
Schedule of Open Forward Currency Contracts | |||||||||
March 31, 2021 | |||||||||
Forward | Unrealized | ||||||||
Currency to be | Currency to be | Counterparty of | Settlement | Appreciation / | |||||
Received | Delivered(1) | Contract | Date | (Depreciation) | |||||
34,722,039 | USD | (29,106,625) | EUR | Morgan Stanley | 4/16/2021 | 577,428 | |||
1,661,356 | EUR | (1,961,837) | USD | Morgan Stanley | 4/16/2021 | (12,922) | |||
19,672,000 | USD | (14,238,036) | GBP | Morgan Stanley | 4/16/2021 | 42,441 | |||
2,437,597 | GBP | (3,388,199) | USD | Morgan Stanley | 4/16/2021 | (27,556) | |||
7,124,651 | CAD | (9,016,930) | USD | JP Morgan Chase | 4/16/2021 | (50,735) | |||
1,133,832 | USD | (905,709) | CAD | JP Morgan Chase | 4/16/2021 | (3,442) | |||
$ | 525,214 | ||||||||
(1) Values are listed in U.S. dollars. |
Schedule of Investments.
Valuation of Instruments
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-tier hierarchy is utilized 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, market participants would consider the risk inherent in a particular valuation technique used to measure fair value, such as 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 and are 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 and are developed based on the best information available in the circumstances. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.
Level 1 – quoted prices in active markets for identical securities
Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)
The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.
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.
The following is a summary of the inputs used as of March 31, 2021 in valuing the Fund’s investments:
Description | Level 1 | Level 2 | Level 3 | Total Investments | ||||||||||||
Assets: | ||||||||||||||||
Equities: | ||||||||||||||||
Common Stocks | $ | 5,268,186 | $ | $ | 2,678,656 | $ | 7,946,842 | |||||||||
Preferred Stocks | - | - | - | - | ||||||||||||
Warrants | - | - | 221,687 | 221,687 | ||||||||||||
Total Equities: | 5,268,186 | 2,900,343 | 8,168,529 | |||||||||||||
Fixed Income: | ||||||||||||||||
Asset-Backed | $ | - | $ | 42,661,322 | $ | - | $ | 42,661,322 | ||||||||
Securities Bank Loans | - | 33,985,992 | 321,504 | 34,307,496 | ||||||||||||
Corporate Bonds | - | 402,912,177 | 3,200,273 | 406,112,450 | ||||||||||||
Total Fixed Income | $ | - | $ | 479,559,491 | $ | 3,521,777 | $ | 483,081,268 | ||||||||
Derivative Securities: | ||||||||||||||||
Foreign Exchange Contracts: | $ | - | $ | 525,214 | $ | - | $ | 525,214 | ||||||||
Total Derivative Securities | $ | - | $ | 525,214 | $ | - | $ | 525,214 | ||||||||
Total Assets | $ | 5,268,186 | $ | 480,084,705 | $ | 6,422,120 | $ | 491,775,011 |
The following table is a summary of quantitative information about significant unobservable valuation inputs for Level 3 fair value measurement for investments held as of September 30, 2020:
Type of Assets | Fair Value as of March 31, 2021 | Valuation Technique(s) | Unobservable Input |
Equities | |||
Boomerang Tube Holdings, Inc. | $0 | Analyst Priced | Default, priced at zero |
ESC CB 144A High Ridge | $41,748 | Broker Quote | $14.00; Broker quote depth of 1 |
Fieldwood Energy LLC | $0 | Broker Quote | $0.01; Price taken from Barings sourced via Markit |
Travelex Topco Limited Warrants | $221,687 | Broker Quote | $72.50; Price taken from Barings sourced via Markit |
KCA Deutag Ordinary A Shares | $1,627,365 | Broker Quote | $69.00; Price taken from Barings sourced via Markit |
Sabine Oil & Gas LLC | $56,446 | Withholding Tax Reclaim | Priced at value of the withholding tax reclaim |
Pinnacle Operating Corp.$0Zero ValueValued at ZeroTourmaline Escrow Cash | $953,097 | Withholding Tax Reclaim | Priced at value of the withholding tax reclaim |
Travelex Private Equity | $0 | Zero Value | Valued at Zero. |
Bank Loans | |||
Boomerang Tube, LLC | $0 | Analyst Priced | Default, priced at zero |
Naviera Armas Bridge, 1M LIBOR + 2.500% | $122,363 | Priced at Cost | 98.00; Priced at restructure cost less OID |
Naviera Armas Bridge, 1M LIBOR + 2.500% | $69,579 | Priced at Cost | 98.00; Priced at restructure cost less OID |
Naviera Armas Bridge, 1M LIBOR + 2.500% | $129,563 | Priced at Cost | 98.00; Priced at restructure cost less OID |
Corporate Bonds | |||
Digicel Limited Appvion Inc. | $0 $0 | Zero Value Zero Value | Valued at Zero Valued at Zero |
Travelex | $3,200,273 | Broker Quote | $175.00; Price taken from Barings sourced via Markit |
Although the Fund believes the valuation methods described above are appropriate, the use of different methodologies or assumptions to determine fair value could result in different estimates of fair value at the reporting date.
The Fund discloses transfers between levels based on valuations at the end of the reporting period. Based on end of period market values, $1,223,509 was transferred from Level 3 to Level 2 for the period from January 1, 2021 through March 31, 2021. The following is a reconciliation of Level 3 investments based upon the inputs used to determine fair value:
BALANCE AT DECEMBER 31, 2020 | TRANSFERS INTO LEVEL 3 | TRANSFERS OUT OF LEVEL 3 | PURCHASES | SALES | ACCRETION OF DISCOUNT | REALIZED GAIN / (LOSS) | CHANGE IN UNREALIZED | BALANCE AT MARCH 31, 2021 | CHANGE IN UNREALIZED APPRECIATION / (DEPRECIATION) FROM INVESTMENTS HELD AS OF MARCH 31, 2021 | |
Equities | ||||||||||
Boomerang Tube Holdings, Inc. | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
ESC CB 144A High Ridge | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $41,748 | $41,748 | $41,748 |
Fieldwood Energy LLC | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Jupiter Resources Inc. | $3,749,198 | $0 | $0 | $0 | ($3,948,373) | $0 | ($1,714,169) | $1,913,344 | $0 | $1,913,344 |
KCA Deutag Ordinary A Shares¤+ | $955,193 | $0 | $0 | $0 | $0 | $0 | $0 | $672,172 | $1,627,365 | $672,172 |
Sabine Oil & Gas LLC | $56,446 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $56,446 | $0 |
Tourmaline Escrow Cash | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $953,097 | $953,097 | $953,097 |
Travelex Private Equity | $0 | $0 | $0 | $1 | ($1) | $0 | $1 | ($1) | $0 | ($1) |
Common Stocks | $4,760,837 | $0 | $0 | $0 | ($3,948,374) | $0 | ($1,714,168) | $3,580,360 | $2,678,656 | $3,580,360 |
Travelex Topco Limited Warrant¤+ | $250,232 | $0 | $0 | $0 | $0 | $0 | $0 | ($28,545) | $221,687 | ($28,545) |
Warrants | $250,232 | $0 | $0 | $0 | $0 | $0 | $0 | ($28,545) | $221,687 | ($28,545) |
Total Equities | $5,011,068 | $0 | $0 | $0 | ($3,948,374) | $0 | ($1,714,168) | $3,551,815 | $2,900,343 | $3,551,815 |
Fixed Income | ||||||||||
Boomerang Tube, LLC | $104,346 | $0 | $0 | $0 | $0 | $0 | $0 | ($104,346) | ($0) | ($104,346) |
Naviera Armas Bridge | $127,521 | $0 | $0 | $0 | $0 | $217 | $0 | ($5,375) | $122,363 | ($5,375) |
Naviera Armas Bridge | $68,751 | $0 | $0 | $0 | $0 | $3,854 | $0 | ($3,026) | $69,579 | ($3,026) |
Naviera Armas Bridge | $0 | $0 | $0 | $127,560 | $0 | $0 | $0 | $2,002 | $129,563 | $2,002 |
Bank Loans | $300,618 | $0 | $0 | $127,560 | $0 | $4,071 | $0 | ($110,745) | $321,504 | ($110,745) |
Digicel Limited | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
KCA Deutag | $1,223,509 | $0 | ($1,223,509) | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Travelex | $4,959,932 | $0 | $0 | $769,233 | ($3,203,708) | $16,392 | $1,726,915 | ($1,068,491) | $3,200,273 | ($1,068,491) |
Travelex | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Corporate Bonds | $6,183,441 | $0 | ($1,223,509) | $769,233 | ($3,203,708) | $16,392 | $1,726,915 | ($1,068,491) | $3,200,273 | ($1,068,491) |
Total Fixed Income | $6,484,059 | $0 | ($1,223,509) | $896,793 | ($3,203,708) | $20,463 | $1,726,915 | ($1,179,236) | $3,521,777 | ($1,179,236) |
Total | $11,495,127 | $0 | ($1,223,509) | $896,793 | ($7,152,082) | $20,463 | $12,747 | $2,372,579 | $6,422,120 | $2,372,579 |