RiverNorth/DoubleLine Strategic Opportunity Fund (OPP) NPORT-P RiverNorth/DoubleLine Strategic Opportunity Fund Inc. (Mar 2021 report)

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

SCHEDULE OF INVESTMENTS

March 31, 2021 (Unaudited)

Shares/Description			Value
CLOSED-END FUNDS - 13.69%(a)
	45,939	Angel Oak Dynamic Financial Strategies Income Term Trust	$	865,950
	33,144	Ares Dynamic Credit Allocation Fund, Inc.		498,154
	239,919	Barings Global Short Duration High Yield Fund		3,857,898
	122,816	Blackstone Strategic Credit Fund		1,637,137
	296,567	BNY Mellon High Yield Strategies Fund		916,392
	43,389	BrandywineGLOBAL - Global Income Opportunities Fund, Inc.		523,271
	164,675	Eaton Vance, Ltd. Duration Income Fund		2,079,845
	77,694	First Trust High Income Long/Short Fund		1,174,733
	242,656	Invesco Dynamic Credit Opportunities Fund		2,758,999
	41,698	Invesco High Income Trust II		580,436
	766,464	Invesco Senior Income Trust		3,219,149
	200,578	Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.		1,207,480
	55,193	NexPoint Credit Strategies Fund		628,648
	138,722	Nuveen Floating Rate Income Opportunity Fund		1,323,408
	52,140	Nuveen Mortgage Opportunity Term Fund		1,081,905
	147,987	PGIM Global High Yield Fund, Inc.		2,207,966
	58,117	The New America High Income Fund, Inc.		526,540
	9,546	Virtus AllianzGI Diversified Income & Convertible Fund		300,031
	282,530	Wells Fargo Income Opportunities Fund		2,384,553
	210,909	Western Asset High Income Opportunity Fund, Inc.		1,071,418
TOTAL CLOSED-END FUNDS
(Cost $27,278,632)				28,843,913
BUSINESS DEVELOPMENT COMPANIES - 1.31%(a)
	46,401	Barings BDC, Inc.		463,082
	371,130	Oaktree Specialty Lending Corp.		2,301,006
TOTAL BUSINESS DEVELOPMENT COMPANIES
(Cost $2,249,380)				2,764,088
COMMON STOCKS - 0.01%(a)
	13,637	McDermott International, Ltd.(b)		10,910
TOTAL COMMON STOCKS
(Cost $44,971)				10,910
PREFERRED STOCKS - 0.47%(a)
	39,726	XAI Octagon Floating Rate Alternative Income Term Trust, 6.500%, 03/31/2026		992,753
TOTAL PREFERRED STOCKS
(Cost $992,700)				992,753

Shares/Description			Rate	Maturity	Value
BUSINESS DEVELOPMENT COMPANY NOTES - 7.35%(a)
United States - 7.35%
	2,000,000	Bain Capital Specialty Finance, Inc.(c)	8.50%	06/10/2023		2,080,000
	131,056	First Eagle Alternative Capital BDC, Inc.	6.75%	12/30/2022		3,331,444
	48,198	First Eagle Alternative Capital BDC, Inc.	6.13%	10/30/2023		1,245,436

Shares/Description			Rate	Maturity	Value
	235,511	Oxford Square Capital Corp.	6.50%	03/30/2024	$	5,892,485
	86,240	Portman Ridge Finance Corp.	6.13%	09/30/2022		2,177,560
	30,519	TriplePoint Venture Growth BDC Corp.	5.75%	07/15/2022		772,146
TOTAL BUSINESS DEVELOPMENT COMPANY NOTES
(Cost $14,900,806)						15,499,071

Principal Amount/Description			Rate	Maturity	Value
FOREIGN CORPORATE BONDS - 6.35%(a)
Argentina - 0.09%
$	150,000	Banco Macro SA(d)(e)	6.75%	11/04/2026	$	120,752
	80,000	Capex SA(e)	6.88%	05/15/2024		71,201
						191,953
Brazil - 0.75%
	300,000	Banco do Brasil SA(d)(e)(f)	6.25%	Perpetual Maturity		295,590
	350,000	Banco do Estado do Rio Grande do Sul SA(d)(g)	5Y US TI + 4.928%	01/28/2031		343,890
	300,000	CSN Islands XII Corp.(e)(f)	7.00%	Perpetual Maturity		301,344
	250,000	Oi SA(h)	10.00%  (4.00%)	07/27/2025		264,375
	200,000	Simpar Europe SA(g)	5.20%	01/26/2031		196,308
	200,000	Unigel Luxembourg SA(e)	8.75%	10/01/2026		216,263
						1,617,770
British Virgin Islands - 0.10%
	200,000	C10 Capital SPV, Ltd.(d)(e)(f)	3M US L + 4.71%	Perpetual Maturity		202,100
Canada - 0.40%
	165,000	Garda World Security Corp.(g)	8.75%	05/15/2025		173,145
	250,000	Gran Tierra Energy, Inc.(g)	7.75%	05/23/2027		203,250
	220,000	Kronos Acquisition Holdings, Inc. / KIK Custom Products, Inc.(g)	7.00%	12/31/2027		211,116
	200,000	Tervita Corp.(g)	11.00%	12/01/2025		227,500
						815,011
Cayman Islands - 0.29%
	250,000	Banco Mercantil del Norte SA/Grand Cayman(d)(e)(f)	7.63%	Perpetual Maturity		274,429
	350,000	Itau Unibanco Holding SA Island(d)(e)(f)	5Y US TI + 3.222%	Perpetual Maturity		328,370
						602,799
Chile - 0.34%
	250,000	AES Gener SA(d)(e)	7.13%	03/26/2079		268,966
	200,000	Empresa Electrica Guacolda SA(e)	4.56%	04/30/2025		168,398
	250,000	Geopark, Ltd.(e)	6.50%	09/21/2024		259,211
						696,575
China - 0.35%
	200,000	Agile Group Holdings, Ltd.(d)(f)	6.88%	Perpetual Maturity		202,743
	200,000	Central China Real Estate, Ltd.	7.25%	07/16/2024		174,000
	200,000	Ronshine China Holdings, Ltd.	6.75%	08/05/2024		184,987
	200,000	Yuzhou Group Holdings Co., Ltd.	8.30%	05/27/2025		172,483
						734,213
Colombia - 0.25%
	100,000	Banco GNB Sudameris SA(d)(e)	5Y US TI + 4.561%	04/03/2027		101,935
	200,000	Credivalores-Crediservicios SAS(g)	8.88%	02/07/2025		172,961
	250,000	Gilex Holding SARL(e)	8.50%	05/02/2023		259,825
						534,721

Principal Amount/Description			Rate	Maturity	Value
Dominican Republic - 0.12%
$	250,000	Aeropuertos Dominicanos Siglo XXI SA(e)	6.75%	03/30/2029	$	261,509
Great Britain - 0.10%
	250,000	Vedanta Resources Finance II PLC(g)	9.25%	04/23/2026		211,555
Guatemala - 0.10%
	200,000	Banco Industrial SA/Guatemala(d)(g)	5Y US TI + 4.442%	01/29/2031		206,349
Hong Kong - 0.24%
	300,000	Bangkok Bank PCL(d)(f)(g)	5Y US TI + 4.729%	Perpetual Maturity		316,404
	200,000	RKP Overseas Finance, Ltd.(f)	7.95%	Perpetual Maturity		196,500
						512,904
Indonesia - 0.29%
	200,000	ABM Investama Tbk PT(e)	7.13%	08/01/2022		178,600
	200,000	Bayan Resources Tbk PT(e)	6.13%	01/24/2023		203,777
	226,750	Star Energy Geothermal Wayang Windu, Ltd.(e)	6.75%	04/24/2033		255,985
						638,362
Luxembourg - 0.35%
	150,000	Atento Luxco 1 SA(g)	8.00%	02/10/2026		157,651
	200,000	FS Luxembourg SARL(g)	10.00%	12/15/2025		220,585
	200,000	Minerva Luxembourg SA(g)	4.38%	03/18/2031		195,775
	200,000	Tupy Overseas SA(g)	4.50%	02/16/2031		194,398
						768,409
Mauritius - 0.09%
	200,000	UPL Corp., Ltd.(d)(f)	5.25%	Perpetual Maturity		198,230
Mexico - 0.89%
	300,000	Alpha Holding SA de CV(g)	9.00%	02/10/2025		219,000
	200,000	Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand(d)(f)	8.50%	Perpetual Maturity		211,000
	200,000	Braskem Idesa SAPI(g)	7.45%	11/15/2029		199,000
	250,000	Credito Real SAB de CV SOFOM ER(d)(e)(f)	9.13%	Perpetual Maturity		224,644
	250,073	Fermaca Enterprises S RL	6.38%	03/30/2038		282,582
	250,000	Mexarrend SAPI de CV(g)	10.25%	07/24/2024		248,000
	200,000	Operadora de Servicios Mega SA de CV Sofom ER(g)	8.25%	02/11/2025		202,166
	200,000	TV Azteca SAB de CV(i)	8.25%	08/09/2024		100,000
	250,000	Unifin Financiera SAB de CV(d)(e)(f)	8.88%	Perpetual Maturity		206,090
						1,892,482
Netherlands - 0.45%
	250,000	AES Andres BV / Dominican Power Partners / Empresa Generadora de Electricidad It(e)	7.95%	05/11/2026		260,395
	200,000	Braskem Netherlands Finance BV(e)	5.88%	01/31/2050		201,280
	200,000	Metinvest BV(e)	7.75%	10/17/2029		212,862
	250,000	Petrobras Global Finance BV	6.90%	03/19/2049		274,190
						948,727
Panama - 0.10%
	200,000	UEP Penonome II SA(g)	6.50%	10/01/2038		202,378

Principal Amount/Description			Rate	Maturity	Value
Peru - 0.20%
$	150,000	Camposol SA(g)	6.00%	02/03/2027	$	160,199
	300,000	Peru LNG Srl(e)	5.38%	03/22/2030		269,756
						429,955
Singapore - 0.50%
	200,000	Indika Energy Capital III Pte, Ltd.(e)	5.88%	11/09/2024		201,050
	200,000	LMIRT Capital Pte, Ltd.	7.25%	06/19/2024		205,427
	250,000	Medco Oak Tree Pte, Ltd.(e)	7.38%	05/14/2026		267,225
	200,000	TBLA International Pte, Ltd.	7.00%	01/24/2023		171,500
	200,000	Theta Capital Pte, Ltd.	6.75%	10/31/2026		193,218
						1,038,420
Switzerland - 0.10%
	200,000	Walnut Bidco PLC(e)	9.13%	08/01/2024		213,550
Thailand - 0.10%
	200,000	TMB Bank PCL(d)(f)	5Y US TI + 3.256%	Perpetual Maturity		200,612
Trinidad and Tobago - 0.15%
	300,000	Telecommunications Services of Trinidad & Tobago, Ltd.(e)	8.88%	10/18/2029		314,820
TOTAL FOREIGN CORPORATE BONDS
(Cost $13,089,731)						13,433,404
U.S. CORPORATE BONDS - 5.65%(a)
Aerospace/Defense - 0.22%
	365,000	Triumph Group, Inc.(g)	6.25%	09/15/2024		371,734
	90,000	Triumph Group, Inc.	7.75%	08/15/2025		90,675
						462,409
Agriculture - 0.06%
	127,656	Pyxus Holdings, Inc.	10.00%	08/24/2024		118,401
Airlines - 0.59%
	155,000	American Airlines, Inc./AAdvantage Loyalty IP, Ltd.(g)	5.75%	04/20/2029		165,059
	944,339	JetBlue 2019-1 Class B Pass Through Trust	8.00%	11/15/2027		1,081,237
						1,246,296
Auto Parts & Equipment - 0.17%
	330,000	Dealer Tire LLC / DT Issuer LLC(g)	8.00%	02/01/2028		348,975
Beverages - 0.10%
	200,000	Triton Water Holdings, Inc.(g)	6.25%	04/01/2029		204,125
Chemicals - 0.15%
	260,000	Illuminate Buyer LLC / Illuminate Holdings IV, Inc.(g)	9.00%	07/01/2028		292,903
Commercial Services - 0.11%
	65,000	NESCO Holdings II, Inc.(g)	5.50%	04/15/2029		66,758
	45,000	Rent-A-Center, Inc.(g)	6.38%	02/15/2029		47,813
	110,000	Sabre GLBL, Inc.(g)	7.38%	09/01/2025		120,208
						234,779
Computers - 0.26%
	225,000	Austin BidCo, Inc.(g)	7.13%	12/15/2028		229,359
	305,000	Flexential Intermediate Corp.(g)	11.25%	08/01/2024		328,066
						557,425

Principal Amount/Description			Rate	Maturity	Value
Distribution/Wholesale - 0.03%
$	59,000	Wolverine Escrow LLC(g)	9.00%	11/15/2026	$	59,055
Diversified Financial Services - 0.06%
	140,000	Air Methods Corp.(g)	8.00%	05/15/2025		131,950
Engineering & Construction - 0.10%
	195,000	PowerTeam Services LLC(g)	9.03%	12/04/2025		215,475
Healthcare-Products - 0.06%
	27,000	Ortho-Clinical Diagnostics, Inc. / Ortho-Clinical Diagnostics SA(g)	7.38%	06/01/2025		29,078
	87,000	Ortho-Clinical Diagnostics, Inc. / Ortho-Clinical Diagnostics SA(g)	7.25%	02/01/2028		95,486
						124,564
Healthcare-Services - 0.28%
	160,000	CHS/Community Health Systems, Inc.(g)	6.88%	04/15/2029		167,699
	305,000	Radiology Partners, Inc.(g)	9.25%	02/01/2028		332,832
	70,000	RP Escrow Issuer LLC(g)	5.25%	12/15/2025		72,625
						573,156
Internet - 0.25%
	360,000	Endure Digital, Inc.(g)	6.00%	02/15/2029		352,314
	165,000	Uber Technologies, Inc.(g)	6.25%	01/15/2028		179,924
						532,238
Investment Companies - 1.51%
	3,150,000	PennantPark Floating Rate Capital, Ltd.	4.25%	04/01/2026		3,160,950
Leisure Time - 0.02%
	45,000	Carnival Corp.(g)	7.63%	03/01/2026		48,400
Media - 0.13%
	275,000	Cengage Learning, Inc.(g)	9.50%	06/15/2024		280,672
Oil & Gas - 0.16%
	250,000	Kosmos Energy, Ltd.(e)	7.13%	04/04/2026		243,010
	85,000	PBF Holding Co. LLC / PBF Finance Corp.(g)	9.25%	05/15/2025		86,902
						329,912
Pipelines - 0.17%
	360,000	NGL Energy Operating LLC / NGL Energy Finance Corp.(g)	7.50%	02/01/2026		370,575
Real Estate - 0.04%
	80,000	Realogy Group LLC / Realogy Co.-Issuer Corp.(g)	5.75%	01/15/2029		79,000
REITS - 0.07%
	155,000	Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC(g)	6.50%	02/15/2029		153,256
Retail - 0.18%
	60,000	Park River Holdings, Inc.(g)	5.63%	02/01/2029		58,238
	300,000	PetSmart, Inc. / PetSmart Finance Corp.(g)	7.75%	02/15/2029		325,110
						383,348

Principal Amount/Description			Rate	Maturity	Value
Software - 0.25%
$	510,000	Castle US Holding Corp.(g)	9.50%	02/15/2028	$	521,156
Telecommunications - 0.68%
	545,000	Embarq Corp Eq 7.995 06/01/36	8.00%	06/01/2036		628,636
	90,000	Frontier Communications Corp.(g)	6.75%	05/01/2029		95,092
	410,000	Gogo Intermediate Holdings LLC / Gogo Finance Co., Inc.(g)	9.88%	05/01/2024		432,294
	435,000	Intelsat Jackson Holdings SA(g)(i)	8.50%	10/15/2024		273,778
						1,429,800
TOTAL U.S. CORPORATE BONDS
(Cost $11,575,806)						11,858,820
CONVERTIBLE CORPORATE BONDS - 2.37%(a)
	1,724,093	BlackRock Capital Investment Corp.	5.00%	06/15/2022		1,730,952
	997,837	BlackRock TCP Capital Corp.	4.63%	03/01/2022		1,026,575
	500,000	Goldman Sachs BDC, Inc.	4.50%	04/01/2022		516,900
	1,648,448	New Mountain Finance Corp.	5.75%	08/15/2023		1,726,832
TOTAL CONVERTIBLE CORPORATE BONDS
(Cost $4,383,695)						5,001,259
FOREIGN GOVERNMENT BONDS AND NOTES, SUPRANATIONALS AND FOREIGN AGENCIES - 0.14%(a)
	300,000	Ukraine Government International Bond(e)	7.25%	03/15/2033		299,237
TOTAL FOREIGN GOVERNMENT BONDS AND NOTES, SUPRANATIONALS AND FOREIGN AGENCIES
(Cost $304,344)						299,237
BANK LOANS - 6.42%(a)(d)
Cayman Islands - 0.16%
	335,000	Grab Holdings, Inc., First Lien - Initial Term Loan	3M US L + 4.50%, 1.00% Floor	01/29/2026		342,119
Ireland - 0.19%
	225,000	ION Trading Finance, Ltd., First Lien - Initial Dollar (2021) Term Loan	3M US L + 4.75%	04/01/2028		225,281
	172,287	ION Trading Technologies SARL, First Lien - 2018 Initial Dollar Retired 04/01/2021 Term Loan	3M US L + 4.00%, 1.00% Floor	11/21/2024		172,602
						397,883
Luxembourg - 0.39%
	230,000	Curium BidCo SARL, Second Lien Term Loan	3M US L + 7.75%	10/27/2028		235,175
	480,675	Travelport Finance SARL, First Lien - Initial (Priority) Term Loan	3M US L + 8.00%, 1.00% Floor	02/28/2025		490,488
	139,769	Travelport Finance SARL, First Lien - Initial Term Loan	3M US L + 5.00%	05/29/2026		114,152
						839,815
Netherlands - 0.16%
	408,607	Bright Bidco B.V., First Lien - 2018 Refinancing B Term Loan	3M US L + 3.50%, 1.00% Floor	06/30/2024		313,606
	2,433	Lealand Finance Company B.V., First Lien - Make-Whole Term Loan	1M US L + 3.00%	06/28/2024		1,983

Principal Amount/Description			Rate	Maturity	Value
$	31,227	Lealand Finance Company B.V., First Lien - Take-Back Term Loan	1M US L + 4.00%	06/30/2025	$	17,695
						333,284
United States - 5.52%
	135,000	AAdvantage Loyality IP, Ltd., First Lien - Initial Term Loan	3M US L + 4.75%, 0.75% Floor	04/20/2028		138,481
	515,776	Air Methods Corp., First Lien - Initial Term Loan	3M US L + 3.50%, 1.00% Floor	04/22/2024		500,464
	564,931	American Tire Distributors, Inc., First Lien - Initial Term Loan	1M US L + 7.50%, 1.00% Floor	09/02/2024		553,632
	190,000	American Trailer World Corp., First Lien - Initial Term Loan	1M US L + 3.75%, 0.75% Floor	03/03/2028		189,051
	645,000	Applied Systems, Inc., Second Lien - 2021 Term Loan	3M US L + 5.50%, 0.75% Floor	09/19/2025		651,451
	95,000	Asurion LLC, Second Lien - New B-3 Term Loan	1M US L + 5.25%	01/31/2028		96,888
	65,000	Blackhawk Network Holdings, Inc., Second Lien	1M US L + 7.00%	06/15/2026		64,783
	247,917	Castle US Holding Corp., First Lien - Initial Dollar Term Loan	3M US L + 3.75%	01/29/2027		245,283
	319,137	Cengage Learning, Inc., First Lien - 2016 Refinancing Term Loan	3M US L + 4.25%, 1.00% Floor	06/07/2023		316,411
	249,354	ClubCorp Holdings, Inc., First Lien - B Term Loan	3M US L + 2.75%	09/18/2024		235,055
	765,000	Constant Contact, Inc., Second Lien - Initial Term Loan	3M US L + 7.50%, 0.75% Floor	02/12/2029		757,349
	250,000	Convergint Technologies LLC, Second Lien - Initial Term Loan	3M US L + 6.75%, 0.75% Floor	03/30/2029		251,250
	708,518	Cvent, Inc., First Lien Term Loan	2M US L + 3.75%	11/29/2024		691,396
	210,735	Cyxtera DC Holdings, Inc., First Lien - Initial Term Loan	3M US L + 3.00%, 1.00% Floor	05/01/2024		202,737
	295,000	DCert Buyer, Inc., Second Lien - First Amendment Refinancing Term Loan	1M US L + 7.00%	02/19/2029		297,767
	48,791	Dhanani Group, Inc., First Lien Term Loan	1M US L + 3.75%	07/20/2025		48,333
	358,498	Envision Healthcare Corp., First Lien - Initial Term Loan	1M US L + 3.75%	10/10/2025		310,475
	480,000	Envision Healthcare Corp., First Lien - Series 2020 New Term Loan	1M US L + 3.75%, 1.00% Floor	10/10/2025		390,480
	118,473	Global Medical Response, Inc., First Lien - 2018 New Term Loan	3M US L + 4.25%, 1.00% Floor	03/14/2025		117,924
	322,318	Gulf Finance LLC, First Lien - Tranche B Term Loan	1M US L + 5.25%, 1.00% Floor	08/25/2023		268,271
	150,000	Ivanti Software, Inc., First Lien - Initial Term Loan	1M US L + 4.75%, 1.00% Floor	12/01/2027		150,797
	444,738	Milano Acquisition Corp., First Lien - B Term Loan	3M US L + 4.00%, 0.75% Floor	10/01/2027		443,626
	368,421	Minotaur Acquisition, Inc., First Lien - B Term Loan	1M US L + 5.00%	03/27/2026		368,576
	207,345	Misys, Ltd., First Lien - Dollar Term Loan	3M US L + 3.50%, 1.00% Floor	06/13/2024		203,507
	230,000	Misys, Ltd., Second Lien - Dollar Term Loan	3M US L + 7.25%, 1.00% Floor	06/13/2025		231,754
	445,000	Mitchell International, Inc., Second Lien - Initial Term Loan	1M US L + 7.25%	12/01/2025		445,278
	202,868	MLN US HoldCo LLC, First Lien - B Term Loan	1M US L + 4.50%	11/30/2025		179,848
	40,879	Onedigital Borrower LLC Delayed Tl	L + 4.50%	11/16/2027		40,947

Principal Amount/Description			Rate	Maturity	Value
$	414,121	OneDigital Borrower LLC, First Lien - Initial Term Loan	3M US L + 4.50%, 0.75% Floor	11/16/2027	$	414,813
	438,189	Peak 10 Holding Corp., First Lien - Initial Term Loan	3M US L + 3.50%	08/01/2024		410,528
	425,000	Riverbed Technology, Inc., First Lien - 2020 Extension Term Loan	3M US L + 6.00%, 1.00% Floor	12/31/2025		409,290
	90,000	Solenis Holdings LLC, Second Lien - Initial Term Loan	3M US L + 8.50%	06/26/2026		90,345
	384,000	Team Health Holdings, Inc., First Lien - Initial Term Loan	1M US L + 2.75%, 1.00% Floor	02/06/2024		358,213
	220,000	TIBCO Software, Inc., Second Lien	1M US L + 7.25%	03/03/2028		222,902
	390,000	Triton Water Holdings, Inc., First Lien - Initial Term Loan	3M US L + 3.50%, 0.50% Floor	03/31/2028		388,994
	562,026	Vantage Specialty Chemicals, Inc., First Lien - Closing Date Term Loan	3M US L + 3.50%, 1.00% Floor	10/28/2024		532,053
	413,949	WaterBridge Midstream Operating LLC, First Lien - Initial Term Loan	3M US L + 5.75%, 1.00% Floor	06/22/2026		393,770
						11,612,722
TOTAL BANK LOANS
(Cost $13,216,357)						13,525,823
COLLATERALIZED LOAN OBLIGATIONS - 4.27%(a)
		Apidos CLO XXI
	500,000	Series 2018-21A(d)(g)	3M US L + 8.25%	07/18/2027		442,776
		Apidos CLO XXIV
	500,000	Series 2018-24A(d)(g)	3M US L + 5.80%	10/20/2030		466,484
		Apidos CLO XXXII
	500,000	Series 2020-32A(d)(g)	3M US L + 6.75%	01/20/2033		497,780
		Apres Static CLO 2, Ltd.
	500,000	Series 2020-1A(d)(g)	3M US L + 4.85%	04/15/2028		500,557
		Bain Capital Credit Clo 2019-3, Ltd.
	500,000	Series 2019-3A(d)(g)	3M US L + 7.15%	10/21/2032		499,706
		Barings CLO, Ltd.
	500,000	Series 2018-4A(d)(g)	3M US L + 5.82%	10/15/2030		475,226
		Canyon Capital CLO, Ltd.
	500,000	Series 2018-1A(d)(g)	3M US L + 5.75%	07/15/2031		471,684
		Carlyle Global Market Strategies CLO, Ltd.
	500,000	Series 2017-3A(d)(g)	3M US L + 5.50%	10/15/2030		452,309
	500,000	Series 2018-2RA(d)(g)	3M US L + 5.35%	05/15/2031		444,346
		Chenango Park CLO, Ltd.
	500,000	Series 2018-1A(d)(g)	3M US L + 5.80%	04/15/2030		476,966
		Dorchester Park CLO DAC
	500,000	Series 2018-1A(d)(g)	3M US L + 5.00%	04/20/2028		489,277
		Fillmore Park CLO, Ltd.
	500,000	Series 2018-1A(d)(g)	3M US L + 5.40%	07/15/2030		469,651
		Goldentree Loan Management US Clo 3, Ltd.
	500,000	Series 2018-3A(d)(g)	3M US L + 2.85%	04/20/2030		495,428
		Myers Park CLO, Ltd.
	500,000	Series 2018-1A(d)(g)	3M US L + 5.50%	10/20/2030		471,448
		Neuberger Berman CLO XXIII, Ltd.
	500,000	Series 2018-23A(d)(g)	3M US L + 5.75%	10/17/2027		489,945
		THL Credit Wind River CLO, Ltd.
	500,000	Series 2018-2A(d)(g)	3M US L + 5.75%	07/15/2030		472,296
		Voya CLO, Ltd.
	500,000	Series 2018-2A(d)(g)	3M US L + 5.25%	07/15/2031		461,777
	500,050	Series 2018-4A(d)(g)	3M US L + 5.95%	07/14/2031		468,570

Principal Amount/Description			Rate	Maturity	Value
		Webster Park CLO, Ltd.
$	500,000	Series 2018-1A(d)(g)	3M US L + 5.50%	07/20/2030	$	466,621
TOTAL COLLATERALIZED LOAN OBLIGATIONS
(Cost $9,351,069)						9,012,847
NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS - 30.70%(a)
		AmeriHome GMSR Issuer Trust
	2,500,000	Series 2019-GT1(g)	4.68%	11/25/2026		2,478,140
		AREIT Trust
	538,000	Series 2019-CRE3(d)(g)	1M US L + 2.65%	07/14/2022		532,029
		Atrium Hotel Portfolio Trust
	433,000	Series 2018-ATRM(d)(g)	1M US L + 3.40%	06/15/2021		419,889
		Atrium XIII
	500,000	Series 2017-13A(d)(g)	3M US L + 6.05%	11/21/2030		485,449
		Atrium XIV LLC
	500,000	Series 2018-14A(d)(g)	3M US L + 5.65%	08/23/2030		491,989
		BAMLL Commercial Mortgage Securities Trust
	730,000	Series 2019-AHT(d)(g)	2.68%	03/15/2021		723,202
		Bancorp Commercial Mortgage Trust
	631,000	Series 2019-CRE5(d)(g)	1M US L + 2.35%	02/15/2022		625,478
		BBCMS Trust
	682,000	Series 2018-CBM(d)(g)	1M US L + 3.55%	07/15/2037		664,829
		BB-UBS Trust
	500,000	Series 2012-TFT(d)(g)	3.56%	06/05/2030		411,975
		Benchmark 2018-B4 Mortgage Trust
	498,000	Series 2018-B4(d)(g)	2.81%	07/15/2028		452,338
		BF Mortgage Trust
	315,000	Series 2019-NYT(d)(g)	1M US L + 3.00%	12/15/2035		305,701
		Blackbird Capital Aircraft Lease Securitization, Ltd.
	2,256,431	Series 2016-1A(g)(j)	5.68%	12/15/2024		2,227,233
		BX Commercial Mortgage Trust
	321,000	Series 2019-IMC(d)(g)	1M US L + 1.90%	04/15/2021		317,586
		BX Trust
	325,000	Series 2019-OC11(d)(g)	4.08%	12/09/2029		323,705
		Carbon Capital VI Commercial Mortgage Trust
	316,000	Series 2019-FL2(d)(g)	1M US L + 2.85%	11/15/2021		302,162
		Castlelake Aircraft Securitization Trust
	381,023	Series 2018-1(g)	6.63%	06/15/2025		298,976
		Castlelake Aircraft Structured Trust
	1,250,000	Series 2019-1A(g)(k)	0.00%	04/15/2039		387,500
		Citigroup Commercial Mortgage Trust
	196,000	Series 2015-GC27(d)(g)	4.42%	01/10/2025		191,019
	138,000	Series 2016-GC36(g)	2.85%	01/10/2026		102,451
	319,000	Series 2018-TBR(d)(g)	1M US L + 3.65%	12/15/2036		304,717
	375,000	Series 2020-555(d)(g)	3.50%	12/10/2029		288,537
		Citigroup Commercial Mortgage Trust 2019-SMRT
	320,000	Series 2019-SMRT(d)(g)	4.75%	01/10/2024		331,154
		CLNC 2019-FL1, Ltd.
	326,000	Series 2019-FL1(d)(g)	1M US L + 1.55%	12/19/2025		323,889
		COMM Mortgage Trust
	878,000	Series 2018-HCLV(d)(g)	1M US L + 2.18%	09/15/2033		863,264
		Commercial Mortgage Pass-Through Certificates
	286,000	Series 2015-CR25(d)	4.53%	08/10/2025		302,390

Principal Amount/Description			Rate	Maturity	Value
		CSAIL 2016-C6 Commercial Mortgage Trust
$	428,000	Series 2016-C6(d)(g)	4.95%	05/15/2026	$	374,361
		DBGS 2018-BIOD Mortgage Trust
	269,160	Series 2018-BIOD(d)(g)	1M US L + 2.00%	05/15/2035		268,975
		DBJPM 16-C1 Mortgage Trust
	416,000	Series 2016-C1(d)	3.35%	03/10/2026		399,932
		Dryden 37 Senior Loan Fund
	500,000	Series 2017-37A(d)(g)	3M US L + 5.15%	01/15/2031		473,250
		Dryden 38 Senior Loan Fund
	500,000	Series 2018-38A(d)(g)	3M US L + 5.60%	07/15/2030		469,310
		Dryden 40 Senior Loan Fund
	500,000	Series 2018-40A(d)(g)	3M US L + 5.75%	08/15/2031		474,850
		Fannie Mae-Aces
	5,494,839	Series 2019-M24(d)(l)	1.15%	03/25/2031		511,116
	18,958,726	Series 2020-M10(d)(l)	0.87%	07/25/2032		1,424,013
	5,441,215	Series 2020-M13(d)(l)	1.30%	09/25/2030		475,180
	9,243,338	Series 2020-M51(d)(l)	0.53%	12/25/2030		306,089
		FirstKey Homes 2020-SFR1 Trust
	700,000	Series 2020-SFR1(g)	4.28%	09/17/2025		732,715
		Fontainebleau Miami Beach Trust
	546,000	Series 2019-FBLU(d)(g)	3.96%	12/10/2024		523,835
		Freddie Mac Multifamily Structured Credit Risk
	750,000	Series 2021-MN1(d)(g)	30D US SOFR + 3.75%	01/25/2051		785,951
		FREMF 2015-KF07 Mortgage Trust
	268,784	Series 2015-KF07(d)(g)	1M US L + 4.95%	02/25/2025		270,564
		FREMF 2016-KF19 Mortgage Trust
	299,980	Series 2016-KF19(d)(g)	1M US L + 5.50%	06/25/2023		301,089
		FREMF 2016-KF25 Mortgage Trust
	266,080	Series 2016-KF25(d)(g)	1M US L + 5.00%	10/25/2023		266,999
		FREMF Mortgage Trust
	394,367	Series 2016-KF22(d)(g)	1M US L + 5.05%	07/25/2023		400,218
		Ginnie Mae Strip
	6,179,035	Series 2020-3(l)	1.40%	09/16/2045		571,962
		Government National Mortgage Association
	10,351,167	Series 2013-155(d)(l)	0.01%	09/16/2053		70,252
	9,332,418	Series 2016-162(d)(l)	0.85%	09/16/2058		529,899
	6,278,559	Series 2020-168(d)(l)	0.99%	12/16/2062		544,645
	6,263,953	Series 2021-10(d)(l)	1.00%	05/16/2063		560,990
		GPMT, Ltd.
	999,000	Series 2018-FL1(d)(g)	1M US L + 2.95%	04/19/2021		994,762
		Great Wolf Trust
	1,100,000	Series 2019-WOLF(d)(g)	1M US L + 3.13%	12/15/2024		1,055,047
		GS Mortgage Securities Corp. Trust 2018-RIVR
	300,000	Series 2018-RIVR(d)(g)	1M US L + 1.55%	07/15/2035		282,253
		GS Mortgage Securities Trust
	1,577,000	Series 2014-GC26(d)(g)	4.51%	11/10/2047		1,097,024
	655,000	Series 2018-TWR(d)(g)	1M US L + 3.92%	07/15/2021		572,246
		Hawaii Hotel Trust
	230,000	Series 2019-MAUI(d)(g)	1M US L + 2.75%	05/15/2021		228,076
		Highbridge Loan Management 4-2014, Ltd.
	500,000	Series 2018-2014(d)(g)	3M US L + 5.55%	01/28/2030		468,563
		Highbridge Loan Management, Ltd.
	500,000	Series 2018-2015(d)(g)	3M US L + 5.10%	02/05/2031		457,168
		HPLY Trust
	187,113	Series 2019-HIT(d)(g)	1M US L + 3.90%	11/15/2021		170,482

Principal Amount/Description			Rate	Maturity	Value
		J.P. Morgan Chase Commercial Mortgage Securities Trust
$	500,000	Series 2016-WIKI(d)(g)	4.01%	10/05/2021	$	484,579
		JP Morgan BB Commercial Mortgage Securities Trust
	1,062,000	Series 2014-C23(d)(g)	3.36%	10/15/2024		807,604
	632,000	Series 2015-C27(d)(g)	3.85%	02/15/2025		566,839
	290,000	Series 2015-C28	3.99%	03/15/2025		300,792
		JP Morgan Chase Commercial Mortgage Securities Trust
	82,038	Series 2006-LDP9	5.34%	05/15/2047		66,451
	411,000	Series 2011-C3(d)(g)	5.79%	02/15/2046		126,920
	320,000	Series 2019-MFP(d)(g)	1M US L + 3.00%	07/15/2021		315,151
	109,000	Series 2019-UES(g)	4.34%	05/05/2024		110,761
	525,000	Series 2019-UES(d)(g)	4.45%	05/05/2024		506,888
		JP Morgan Chase Commercial Mortgage Securities Trust 2011-C5
	200,000	Series 2011-C5(d)(g)	5.43%	09/15/2021		200,753
		JPMBB Commercial Mortgage Securities Trust
	7,395,837	Series 2013-C14(d)(g)(l)	1.10%	08/15/2023		182,322
		LCM Loan Income Fund I Income Note Issuer, Ltd.
	500,000	Series 2018-27A(d)(g)	3M US L + 5.60%	07/16/2031		457,350
		LCM XIV LP
	500,000	Series 2018-14A(d)(g)	3M US L + 5.50%	07/20/2031		445,104
		LCM XVII LP
	500,000	Series 2018-17A(d)(g)	3M US L + 6.00%	10/15/2031		456,739
		Legacy Mortgage Asset Trust
	6,200,000	Series 2019-GS3(g)(j)	4.25%	04/25/2059		6,175,733
		Mello Warehouse Securitization Trust
	3,250,000	Series 2019-1(d)(g)	1M US L + 5.50%	05/14/2021		3,253,529
		MFT Trust 2020-ABC
	365,000	Series 2020-ABC(d)(g)	3.48%	02/10/2030		321,541
		Morgan Stanley Capital Barclays Bank Trust 2016-MART
	302,000	Series 2016-MART(g)	3.31%	09/13/2021		298,813
		Morgan Stanley Capital I Trust
	363,000	Series 2007-IQ15(d)(g)	6.16%	06/11/2049		346,618
	210,000	Series 2017-ASHF(d)(g)	1M US L + 4.35%	11/15/2034		195,928
	350,000	Series 2018-SUN(d)(g)	1M US L + 3.05%	07/15/2035		341,626
		Mosaic Solar Loan Trust
	2,900,000	Series 2020-1A(g)(k)	0.00%	04/20/2046		1,228,194
		Motel 6 Trust 2017-MTL6
	297,708	Series 2017-MTL6(d)(g)	1M US L + 4.25%	08/15/2034		299,415
		New Century Home Equity Loan Trust
	1,802,883	Series 2006-1(d)	1M US L + 0.18%	05/25/2036		1,753,188
		Octagon Investment Partners 26, Ltd.
	500,000	Series 2018-1A(d)(g)	3M US L + 8.09%	07/15/2030		449,449
		Octagon Investment Partners 29, Ltd.
	500,000	Series 2020-1A(d)(g)	3M US L + 7.25%	01/24/2033		503,371
		Octagon Investment Partners 45, Ltd.
	500,000	Series 2019-1A(d)(g)	3M US L + 7.69%	10/15/2032		503,719
		Octagon Investment Partners XVI, Ltd.
	500,000	Series 2018-1A(d)(g)	3M US L + 5.75%	07/17/2030		474,838
		Octagon Investment Partners XXI, Ltd.
	500,000	Series 2019-1A(d)(g)	3M US L + 7.00%	02/14/2031		501,212

Principal Amount/Description			Rate	Maturity	Value
		Octagon Investment Partners XXII, Ltd.
$	500,000	Series 2018-1A(d)(g)	3M US L + 1.90%	01/22/2030	$	498,750
		One Market Plaza Trust
	319,000	Series 2017-1MKT(g)	4.14%	02/10/2024		324,239
		PR Mortgage Loan Trust
	2,033,793	Series 2014-1(d)(g)	5.91%	09/25/2047		2,018,645
		PRPM LLC
	4,000,000	Series 2020-1A(g)(j)	3.97%	02/25/2023		3,989,511
		RMAT LLC
	428,384	Series 2015-PR2(g)(j)	9.85%	11/25/2035		428,575
		Sofi Professional Loan Program 2018-C Trust
	50,000	Series 2018-C(g)(k)	0.00%	01/25/2048		1,409,171
		SoFi Professional Loan Program Trust
	20,000	Series 2020-A(g)(k)	0.00%	05/15/2046		1,218,575
		SoFi Professional Loan Program, LLC
	28,017	Series 2019-B(g)(k)	0.00%	08/17/2048		664,388
		Trimaran CAVU, Ltd.
	500,000	Series 2019-2A(d)(g)	3M US L + 4.72%	11/26/2032		503,178
		UBS-Barclays Commercial Mortgage Trust
	333,000	Series 2013-C5(d)(g)	4.08%	02/10/2023		277,638
		UBS-Barclays Commercial Mortgage Trust 2013-C5
	300,000	Series 2013-C5(d)(g)	4.08%	02/10/2023		294,546
		VMC Finance LLC
	440,481	Series 2019-FL3(d)(g)	1M US L + 2.65%	09/15/2036		438,282
		WAVE LLC
	499,677	Series 2019-1(g)	6.41%	09/15/2027		417,606
		Wells Fargo Commercial Mortgage Trust
	332,000	Series 2016-C33(g)	3.12%	03/15/2059		313,495
TOTAL NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS
(Cost $67,002,465)						64,689,444
U.S. GOVERNMENT BONDS AND NOTES - 9.16%(a)
	23,150,000	U.S. Treasury Bonds	1.63%	11/15/2050		19,297,695
TOTAL U.S. GOVERNMENT BONDS AND NOTES
(Cost $21,993,647)						19,297,695
U.S. GOVERNMENT / AGENCY MORTGAGE BACKED SECURITIES - 44.10%(a)
		Alternative Loan Trust
	659,543	Series 2005-48T1	5.50%	11/25/2035		518,035
	401,018	Series 2005-63(d)	3.30%	12/25/2035		390,182
	2,580,519	Series 2005-64CB	5.50%	12/25/2035		2,245,103
	1,121,356	Series 2006-26CB	6.50%	09/25/2036		811,610
	2,538,019	Series 2007-14T2	6.00%	07/25/2037		1,760,829
	2,190,945	Series 2007-16CB	6.25%	08/25/2037		1,676,896
	2,317,277	Series 2007-2CB	5.75%	03/25/2037		1,847,842
		Banc of America Funding Trust
	1,854,759	Series 2006-D(d)	3.31%	05/20/2036		1,667,311
		Banc of America Mortgage Trust
	1,393,601	Series 2007-3	6.00%	09/25/2037		1,392,032
		Bear Stearns ALT-A Trust
	1,555,143	Series 2005-10(d)	2.99%	01/25/2036		1,514,852
		Bear Stearns ARM Trust
	990,190	Series 2006-2(d)	3.22%	07/25/2036		956,308

Principal Amount/Description			Rate	Maturity	Value
		Chase Mortgage Finance Trust Series
$	2,973,376	Series 2007-S4(d)	1M US L + 0.60%	06/25/2037	$	1,034,702
		ChaseFlex Trust Series 2007-1
	2,552,702	Series 2007-1	6.50%	02/25/2037		1,386,732
		CHL GMSR Issuer Trust
	3,930,000	Series 2018-GT1(d)(g)	1M US L + 2.75%	05/25/2023		3,916,347
		CHL Mortgage Pass-Through Trust
	1,834,738	Series 2005-HYB1(d)	1M US L + 0.60%	03/25/2035		1,814,206
	1,985,220	Series 2007-9	5.75%	07/25/2037		1,546,503
	1,873,535	Series 2007-HYB1(d)	2.84%	03/25/2037		1,772,811
		Citigroup Mortgage Loan Trust
	686,360	Series 2007-AR5(d)	2.92%	04/25/2037		665,394
		Citigroup Mortgage Loan Trust, Inc.
	1,439,985	Series 2005-5(d)	2.80%	10/25/2035		1,015,074
		CSFB Mortgage-Backed Pass-Through Certificates
	856,372	Series 2005-9	5.50%	10/25/2035		623,081
		CSMC Mortgage-Backed Trust
	1,893,722	Series 2006-7	6.75%	08/25/2036		1,567,937
	1,749,382	Series 2007-1	6.00%	02/25/2037		1,546,036
		Fannie Mae REMICS
	2,812,946	Series 2011-101(d)(l)	5.90% - 1M US L	10/25/2041		525,449
	2,428,190	Series 2011-124(d)(l)	6.50% - 1M US L	12/25/2041		482,832
	2,873,131	Series 2012-20(d)(l)	6.45% - 1M US L	03/25/2042		493,040
	4,043,598	Series 2013-109(k)	0.00%	07/25/2043		3,667,711
	815,293	Series 2016-26(d)	7.62% - 1M US L	11/25/2042		813,288
		Federal Home Loan Mortgage Corp. REMICS
	1,480,753	Series 2013-4170(d)	4.05% - 1M US L	01/15/2033		1,518,633
		First Horizon Alternative Mortgage Securities Trust
	446,089	Series 2005-AA8(d)	2.83%	10/25/2035		427,612
		Freddie Mac REMICS
	4,517,372	Series 2010-3770	4.00%	12/15/2040		5,037,498
	4,828,406	Series 2011-3966(d)(l)	5.90% - 1M US L	12/15/2041		737,265
	4,680,268	Series 2020-5007(d)(l)	6.10% - 1M US L	08/25/2050		1,094,450
	15,109,268	Series 2020-5041(l)	2.00%	11/25/2050		1,319,834
		Government National Mortgage Association
	4,820,330	Series 2017-17	3.50%	02/20/2047		5,108,690
	4,869,987	Series 2020-142(d)(l)	6.30% - 1M US L	09/20/2050		1,151,136
	4,927,096	Series 2020-146(d)(l)	6.30% - 1M US L	10/20/2050		1,181,542
	10,792,705	Series 2020-167(d)(l)	3.75% - 1M US L	11/20/2050		1,191,116
	5,777,326	Series 2020-47(d)(l)	6.00% - 1M US L	05/20/2044		1,036,720
	12,640,122	Series 2020-47(d)(l)	5.37% - 1M US L	07/20/2044		2,286,972
	4,980,037	Series 2021-1(d)(l)	6.30% - 1M US L	01/20/2051		1,202,661
		Homeward Opportunities Fund Trust 2020-BPL1
	1,000,000	Series 2020-BPL1(g)(j)	5.44%	08/25/2025		1,008,892
		IndyMac INDX Mortgage Loan Trust
	2,264,447	Series 2007-FLX6(d)	1M US L + 0.25%	09/25/2037		2,272,457
		Legacy Mortgage Asset Trust
	5,900,000	Series 2019-GS7(g)(j)	4.50%	11/25/2059		5,911,789
		Luminent Mortgage Trust
	1,715,315	Series 2006-3(d)	1M US L + 0.40%	05/25/2036		1,598,130
	1,423,613	Series 2006-3(d)	1M US L + 0.42%	05/25/2036		1,362,486
		Mello Warehouse Securitization Trust
	400,000	Series 2019-2(d)(g)	1M US L + 3.25%	10/25/2021		400,484
		Nomura Asset Acceptance Corp. Alternative Loan Trust
	1,921,991	Series 2005-AP3(j)	5.69%	08/25/2035		1,263,330

Principal Amount/Description			Rate	Maturity	Value
$	8,153,598	Series 2006-AR1(d)	1M US L + 0.54%	02/25/2036	$	1,968,406
		RALI Series Trust
	1,709,024	Series 2007-QA5(d)	5.34%	09/25/2037		1,692,985
		Residential Asset Securitization Trust
	2,347,309	Series 2005-A15	5.75%	02/25/2036		1,527,009
	2,182,530	Series 2007-A5	6.00%	05/25/2037		1,797,283
		RFMSI Trust
	1,009,883	Series 2005-SA2(d)	3.16%	06/25/2035		831,450
	2,009,905	Series 2006-S8	6.00%	09/25/2036		1,876,061
		Spruce Hill Mortgage Loan Trust 2020-SH1
	1,936,000	Series 2020-SH1(d)(g)	4.68%	01/28/2050		1,958,765
		Structured Adjustable Rate Mortgage Loan Trust
	682,290	Series 2005-22(d)	3.14%	12/25/2035		661,681
	1,760,536	Series 2007-8(d)	3.56%	09/25/2037		1,724,407
		Structured Asset Mortgage Investments II Trust
	330,032	Series 2005-AR7(d)	2.55%	03/25/2046		334,271
		WaMu Mortgage Pass-Through Certificates Trust
	1,313,010	Series 2006-AR10(d)	3.22%	08/25/2046		1,273,244
	1,153,179	Series 2006-AR6(d)	3.16%	08/25/2036		1,098,303
	1,430,459	Series 2007-HY3(d)	3.26%	03/25/2037		1,413,164
TOTAL U.S. GOVERNMENT / AGENCY MORTGAGE BACKED SECURITIES
(Cost $97,082,603)						92,920,869

Shares/Description			Value
SHORT-TERM INVESTMENTS - 6.73%(a)
Money Market Fund - 6.73%
	14,174,806	State Street Institutional Trust (7 Day Yield 0.01%)(m)		14,174,806
TOTAL SHORT-TERM INVESTMENTS
(Cost $14,174,806)				14,174,806
TOTAL INVESTMENTS - 138.72%
(Cost $297,641,012)			$	292,324,939
LIABILITIES IN EXCESS OF OTHER ASSETS - (38.72)%				(81,592,523	)
NET ASSETS - 100.00%			$	210,732,416

Investment Abbreviations:

LIBOR - London Interbank Offered Rate

Reference Rates:

1M US L - 1 Month LIBOR as of March 31, 2021 was 0.11%

2M US L - 2 Month LIBOR as of March 31, 2021 was 0.13%

3M US L - 3 Month LIBOR as of March 31, 2021 was 0.19%

30D US SOFR - 30 Day SOFR as of March 31, 2021 was 0.01%

5Y US TI - 5 Year US Treasury Index as of March 31, 2021 was 0.92%

(a)	All or a portion of the security has been pledged as collateral in connection with an open credit agreement. At March 31, 2021, the value of securities pledged amounted to $292,324,939, which represents approximately 138.72% of net assets.
(b)	Non-income producing security.
(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)	Variable rate investment. Interest rates reset periodically. Interest rate shown reflects the rate in effect at March 31, 2021. 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.
(e)	Securities were purchased pursuant to Regulation S under the Securities Act of 1933, 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, or pursuant to an exemption from registration. These securities have been deemed liquid under procedures approved by the Fund's Board of Directors (The "Board"). As of March 31, 2021, the aggregate fair value of those securities was $6,682,174, representing 3.17% of net assets.
(f)	Security has no contractual maturity date, is not redeemable and contractually pays an indefinite stream of interest.
(g)	Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities have been deemed liquid under procedures approved by the Fund's Board of Directors and may normally be sold to qualified institutional buyers in transactions exempt from registration. Total fair value of Rule 144A securities amounts to $89,879,210, which represents approximately 42.65% of net assets as of March 31, 2021.
(h)	Pay-in-kind securities. Rate paid in-kind is shown in parenthesis.
(i)	Security is currently in default.
(j)	Step up bond. Coupon changes periodically based upon a predetermined schedule. Interest rate disclosed is that which is in effect at March 31, 2021.
(k)	Issued with a zero coupon. Income is recognized through the accretion of discount.
(l)	Interest only securities.
(m)	Seven-day yield as of March 31, 2021.

See Notes to Schedule of Investments

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.
Notes to Quarterly Schedule of Investments	March 31, 2021 (Unaudited)

1. ORGANIZATION

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (the “Fund”) is a closed-end management investment company that was organized as a Maryland corporation on June 22, 2016, and commenced investment operations on September 28, 2016. The investment adviser to the Fund is RiverNorth Capital Management, LLC (the “Adviser”). The Fund’s sub-adviser is DoubleLine Capital, LP (“Sub-Adviser”). The Fund is a diversified investment company with an investment objective to seek current income and overall total return.

The Fund seeks to achieve its investment objective by allocating its Managed Assets among two principal strategies; under normal market conditions, the Fund may allocate between 10% and 35% of its Managed Assets to the Tactical Closed-End Fund Income Strategy and 65% to 90% of its Managed Assets to the Opportunistic Income Strategy. The Adviser will determine the portion of the Fund’s Managed Assets to allocate to each strategy and may, from time to time, adjust the allocations.

2. SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of significant accounting policies followed by the Fund. These policies are in conformity with generally accepted accounting principles in the United States of America (“U.S. GAAP”). The financial statements are prepared in accordance with U.S. 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 Fund ultimately realizes upon sale of the securities. The Fund is considered an investment company for financial reporting purposes under GAAP and follows the accounting and reporting guidance applicable to investment companies as codified in Accounting Standards Codification (“ASC”) 946 – Investment Companies. The financial statements have been prepared as of the close of the New York Stock Exchange (“NYSE”) on March 31, 2021.

Security Valuation: The Fund’s investments are generally valued at their fair value using market quotations. If a market value quotation is unavailable a security may be valued at its estimated fair value as described in Note 3.

Security Transactions and Investment Income: The Fund follows industry practice and records 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 Fund 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. Paydown gains and losses on mortgage-related and other asset-backed securities are recorded as components of interest income on the Statement of Operations. Withholding taxes on foreign dividends have been provided for in accordance with the Fund’s understanding of the applicable country’s tax rules and rates. The ability of issuers of debt securities held by the Fund to meet their obligations may be affected by economic and political developments in a specific country or region. Settlement on bank loans 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 Fund 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.

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.
Notes to Quarterly Schedule of Investments	March 31, 2021 (Unaudited)

Share Valuation: The net asset value (the “NAV”) is generally calculated as of the close of trading on the New York Stock Exchange (“the Exchange”) (normally 4:00 p.m. Eastern time) every day the Exchange is open. The NAV is calculated by dividing the value of all of the securities and other assets of the Fund, less the liabilities (including accrued expenses and indebtedness), by the total number of common shares outstanding.

3. Securities valuation and fair value measurements

Fair value is defined as the price that the 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. U.S. 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 Fund’s 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 Fund’s 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.

Equity securities, including closed-end funds, are generally valued by using market quotations, but may be valued on the basis of prices furnished by a pricing service when the Adviser or the Sub-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 Fund 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 or the Sub-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, Sub-Adviser, or valuation committee in conformity with guidelines adopted by and subject to review by the Board. These securities will be categorized as Level 3 securities.

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.
Notes to Quarterly Schedule of Investments	March 31, 2021 (Unaudited)

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

Domestic and foreign fixed income securities, including foreign and U.S. corporate bonds, foreign government bonds and notes, supranationals and foreign agencies, asset backed obligations, non-agency collateralized mortgage obligations, U.S. Government/Agency mortgage backed securities, business development company notes, bank loans, and collateralized loan obligations 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, excluding money market funds, 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 Fund’s good faith pricing guidelines, the Adviser, Sub-Adviser, or valuation committee 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, Sub-Adviser, or valuation committee 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, a Sub-Adviser’s, or the valuation committee’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 Fund’s NAV calculation that may affect a security’s value, or the Adviser or a Sub-Adviser is aware of any other data that calls into question the reliability of market quotations.

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.
Notes to Quarterly Schedule of Investments	March 31, 2021 (Unaudited)

Good faith pricing may also be used in instances when the bonds in which the Fund invests default or otherwise cease to have market quotations readily available.

The following is a summary of the inputs used at March 31, 2021 in valuing the Fund’s assets and liabilities:

	Valuation Inputs
Investments in Securities at Value*	Level 1		Level 2		Level 3		Total
Closed-End Funds	$	28,843,913	$	–	$	–	$	28,843,913
Business Development Companies		2,764,088		–		–		2,764,088
Common Stocks		10,910		–		–		10,910
Preferred Stocks		992,753		–		–		992,753
Business Development Company Notes		13,419,071		–		2,080,000		15,499,071
Foreign Corporate Bonds		–		13,433,404		–		13,433,404
U.S. Corporate Bonds		–		11,858,820		–		11,858,820
Convertible Corporate Bonds		–		5,001,259		–		5,001,259
Foreign Government Bonds and Notes, Supranationals and Foreign Agencies		–		299,237		–		299,237
Bank Loans		–		13,525,823		–		13,525,823
Collateralized Loan Obligations		–		9,012,847		–		9,012,847
Non-Agency Collateralized Mortgage Obligations		–		64,689,444		–		64,689,444
U.S. Government Bonds and Notes		–		19,297,695		–		19,297,695
U.S. Government / Agency Mortgage Backed Securities		–		92,920,869		–		92,920,869
Short-Term Investments		14,174,806		–		–		14,174,806
Total	$	60,205,541	$	230,039,398	$	2,080,000	$	292,324,939

^* Refer to the Fund's Schedule of Investments for a listing of securities by type.

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.
Notes to Quarterly Schedule of Investments	March 31, 2021 (Unaudited)

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

Asset Type	Balance as of June 30, 2020		Accrued Discount/ premium		Realized Gain/ (Loss)		Change in Unrealized Appreciation/ Depreciation		Purchases		Sales Proceeds		Transfer into Level 3		Transfer Out of Level 3		Balance as of March 31, 2021		Net change in unrealized appreciation/ (depreciation) attributable to Level 3 investments held at March 31, 2021
Business Development Company Notes	$	1,991,000	$	4,414	$	-	$	84,586	$	-	$	-	$	-	$	-	$	2,080,000	$	84,586
	$	1,991,000	$	4,414	$	-	$	84,586	$	-	$	-	$	-	$	-	$	2,080,000	$	84,586

The table below provides additional information about the Level 3 Fair Value Measurements as of March 31, 2021:

Quantitative Information about Level 3 Fair Value Measurements

Asset Class	Fair Value (USD)		Valuation Technique	Unobservable Inputs(a)	Value/Range (Weighted Average)
Business Development Company Notes	$	2,080,000	Vendor Price	Broker Quote	N/A

^(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
Broker Quote	Increase	Decrease