A3 Alternative Credit Fund
SCHEDULE OF INVESTMENTS
As of June 30, 2020 (Unaudited)
Number of Shares | Value | |
CLOSED-END FUNDS — 1.3% | ||
12,500 | Eagle Point Credit Co., Inc. | $88,875 |
1,500 | OFS Credit Co., Inc. | 13,620 |
2,500 | Oxford Lane Capital Corp. | 10,275 |
TOTAL CLOSED-END FUNDS | ||
(Cost $125,313) | 112,770 |
Principal Amount | ||
COLLATERALIZED MORTGAGE OBLIGATIONS — 82.0% | ||
Government National Mortgage Association | ||
$452,603 | 1.725%, 10/20/20621,2,3 | 24,228 |
2,507,545 | 1.159%, 8/20/20631,2,3 | 79,928 |
2,099,522 | 1.446%, 3/20/20641,2,3 | 105,673 |
1,777,451 | 1.436%, 5/20/20641,2,3 | 130,841 |
1,534,065 | 1.504%, 10/20/20641,2,3 | 99,178 |
877,352 | 2.373%, 4/20/20651,2,3 | 77,392 |
2,871,771 | 2.340%, 6/20/20651,2,3 | 276,752 |
1,446,337 | 2.469%, 7/20/20651,2,3 | 109,318 |
492,849 | 3.010%, 7/20/20651,2,3 | 52,803 |
807,379 | 1.583%, 9/20/20651,2,3 | 60,679 |
1,140,511 | 1.877%, 9/20/20651,2,3 | 108,047 |
1,851,828 | 2.751%, 11/20/20651,2,3 | 14,743 |
825,987 | 2.484%, 1/20/20661,2,3 | 76,236 |
1,042,420 | 2.371%, 2/20/20661,2,3 | 99,708 |
1,169,335 | 1.177%, 4/20/20661,2,3 | 126,345 |
1,313,428 | 1.916%, 6/20/20661,2,4 | 137,606 |
1,844,190 | 1.832%, 10/20/20661,2,3 | 151,728 |
1,535,756 | 3.140%, 10/20/20661,2,3 | 162,736 |
7,087,030 | 2.798%, 12/20/20661,2,3 | 708,954 |
704,645 | 2.425%, 1/20/20671,2,3 | 80,005 |
4,036,340 | 2.979%, 2/20/20671,2,3 | 509,025 |
1,325,390 | 2.295%, 4/20/20671,2,3 | 120,886 |
2,172,076 | 1.386%, 6/20/20671,2,3 | 235,634 |
2,025,147 | 1.834%, 8/20/20671,2,3 | 184,496 |
846,619 | 2.427%, 8/20/20671,2,3 | 103,322 |
689,718 | 2.471%, 10/20/20671,2,3 | 91,156 |
1,822,145 | 2.263%, 11/20/20671,2,3 | 195,098 |
1,676,061 | 2.336%, 1/20/20681,2,3 | 230,224 |
2,629,343 | 2.642%, 2/20/20681,2,3 | 300,819 |
3,813,388 | 0.479%, 6/20/20691,2,3 | 309,750 |
3,772,166 | 1.617%, 7/20/20691,2,3 | 265,057 |
3,141,574 | 1.801%, 9/20/20691,2,3 | 232,729 |
3,479,435 | 1.917%, 11/20/20691,2,3 | 334,525 |
4,445,216 | 2.056%, 11/20/20691,2,3 | 463,678 |
A3 Alternative Credit Fund
SCHEDULE OF INVESTMENTS - Continued
As of June 30, 2020 (Unaudited)
Principal Amount | Value | |
COLLATERALIZED MORTGAGE OBLIGATIONS (Continued) | ||
$3,464,318 | 1.775%, 12/20/20691,2,3 | $293,510 |
3,559,681 | 1.799%, 12/20/20691,2,3 | 327,028 |
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS | ||
(Cost $6,259,031) | 6,879,837 | |
CORPORATE BONDS — 2.4% | ||
200,000 | Cadence Series 14 Note 11.500%, 8/12/20205,6 0x9C73ADDDa5B280C04b642Da694D2E12C3286757d, (Ethereum contract) | 200,000 |
TOTAL CORPORATE BONDS | ||
(Cost $200,000) | 200,000 |
Number of Shares | ||
REAL ESTATE INVESTMENTS TRUSTS — 1.7% | ||
11,100 | AGNC Investment Corp. - REIT | 143,190 |
TOTAL REAL ESTATE INVESTMENTS TRUSTS | ||
(Cost $149,525) | 143,190 |
Principal Amount | ||
SYNDICATED LOANS AND PARTICIPATIONS — 3.2% | ||
Global Merchant Cash, Inc. | ||
$23,906 | 1.35, 11/4/20205,6,7,8 | 18,948 |
21,175 | 1.39, 11/20/20205,6,7,8 | 16,606 |
37,222 | 1.34, 11/22/20205,6,7,8 | 29,722 |
35,411 | 1.34, 11/25/20205,6,7,8 | 28,541 |
26,776 | 1.30, 12/9/20205,6,7,8 | 20,494 |
65,100 | 1.40, 12/21/20205,6,7,8 | 20,832 |
37,221 | 1.30, 1/27/20215,6,7,8 | 29,204 |
69,062 | 1.30, 2/2/20215,6,7,8 | 55,775 |
57,919 | 1.31, 3/16/20215,6,7,8 | 45,541 |
TOTAL SYNDICATED LOANS AND PARTICIPATIONS | ||
(Cost $297,840) | 265,663 |
Number of Shares | ||
SHORT-TERM INVESTMENTS — 8.2% | ||
687,784 | Fidelity Investments Money Market Government Portfolio - Institutional Class, 0.07%6,9 | $687,784 |
TOTAL SHORT-TERM INVESTMENTS | ||
(Cost $687,784) | 687,784 |
A3 Alternative Credit Fund
SCHEDULE OF INVESTMENTS - Continued
As of June 30, 2020 (Unaudited)
Number of Shares | Value | |
TOTAL INVESTMENTS — 98.8% | ||
(Cost $7,719,493) | 8,289,244 | |
Other Assets Less Liabilities — 1.2% | 100,922 | |
TOTAL NET ASSETS — 100.0% | $8,390,166 |
REIT – Real Estate Investment Trusts |
1 | Callable. |
2 | Interest-only security. |
3 | Variable rate security. |
4 | Floating rate security. |
5 | Restricted security. The total value of these securities is $465,663, which represents 5.55% of total net assets of the Fund. |
6 | Level 3 securities fair valued under procedures established by the Board of Trustees. The total value of these securities is $1,153,447, which represents 13.75% of total net assets of the Fund. |
7 | The Factor listed represents the repayment amount divided by the advance amount, quoted in a decimal format. |
8 | The Maturity Date listed is an estimate of the anticipated timing of full repayment. |
9 | The rate is the annualized seven-day yield at period end. |