Monachil Credit Income Fund NPORT-P Monachil Credit Income Fund (Sep 2023 report)

Monachil Credit Income Fund

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)

As of September 30, 2023

Principal
Amount1			Value
		ASSET BACKED SECURITIES - 61.30%
	100,000	Aligned Data Centers Issuer, LLC 3,4 6.000%, 8/17/2048	$	96,449
	85,835	American Credit Acceptance Receivables Trust 2021-1 3,4 0.830%, 3/15/2027		85,278
	250,000	Barrow Hanley CLO II Ltd. 4,5 8.839% (3-Month Term SOFR+350 basis points), 10/20/2035		250,000
	500,000	Barrow Hanley CLO II Ltd. 4,5 11.089% (3-Month Term SOFR+575 basis points), 10/20/2035		500,000
	250,000	Barrow Hanley CLO II Ltd. 4,5 13.709% (3-Month Term SOFR+837 basis points), 10/20/2035		245,000
	250,000	BCC Middle Market CLO 2023-1, LLC 3,4,5 9.216% (3-Month Term SOFR+380 basis points), 7/20/2035		250,000
	250,000	BCC Middle Market CLO 2023-1, LLC 3,4,5 9.966% (3-Month Term SOFR+455 basis points), 7/20/2035		250,000
	250,000	BCC Middle Market CLO 2023-1, LLC 3,4,5 12.066% (3-Month Term SOFR+665 basis points), 7/20/2035		250,000
	250,000	BCC Middle Market CLO 2023-1, LLC 3,4,5 15.256% (3-Month Term SOFR+984 basis points), 7/20/2035		245,000
	250,000	Birch Grove CLO 6 Ltd. 4,5 11.119% (3-Month Term SOFR+583 basis points), 7/20/2035		247,500
	500,000	Blackrock MT Hood CLO X, LLC 3,4,5 11.725% (3-Month Term SOFR+656 basis points), 4/20/2035		500,000
	171,438	BMW Vehicle Owner Trust 2020-A 4 0.620%, 4/26/2027		168,108
	250,000	Canyon Capital CLO 2023-1 Ltd. 4,5 8.410% (3-Month Term SOFR+300 basis points), 10/15/2036		250,000
	250,000	Canyon Capital CLO 2023-1 Ltd. 4,5 10.410% (3-Month Term SOFR+500 basis points), 10/15/2036		250,000
	250,000	Canyon Capital CLO 2023-1 Ltd. 4,5 13.390% (3-Month Term SOFR+798 basis points), 10/15/2036		247,500
	250,000	Carlyle US CLO 2023-2 Ltd. 4,5 10.255% (3-Month Term SOFR+500 basis points), 7/20/2036		250,000
	325,000	CarMax Auto Owner Trust 2021-2 4 0.810%, 12/15/2026		303,071
	100,000	Carvana Auto Receivables Trust 2023-P4 3,4 6.550%, 12/10/2029		99,669
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	250,000	CFG Investments Ltd. 4 8.560%, 7/25/2034		249,985
	250,000	CIFC-LBC Middle Market CLO 2023-1, LLC 4,5 9.735% (3-Month Term SOFR+430 basis points), 10/20/2035		250,000
	500,000	CIFC-LBC Middle Market CLO 2023-1, LLC 4,5 11.935% (3-Month Term SOFR+650 basis points), 10/20/2035		500,000
	250,000	CIFC-LBC Middle Market CLO 2023-1, LLC 4,5 14.735% (3-Month Term SOFR+930 basis points), 10/20/2035		247,500
	250,000	CNH Equipmet Trust 2023-B 4 5.900%, 10/20/2035		250,169

Monachil Credit Income Fund

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

As of September 30, 2023

Principal
Amount1			Value
		ASSET BACKED SECURITIES - 61.30% (continued)
	127,195	DLLAA 2023-1, LLC 4 5.631%, 8/20/2024	$	127,196
	200,000	DLLAA 2023-1, LLC 4 5.930%, 7/20/2026		199,995
	250,000	Dryden 107 CLO Ltd. 4,5 8.399% (3-Month Term SOFR+300 basis points), 8/15/2035		250,000
	250,000	Dryden 107 CLO Ltd. 4,5 10.549% (3-Month Term SOFR+515 basis points), 8/15/2035		250,000
	445,711	DT Auto Owner Trust 2023-3 3, 4 6.290%, 8/16/2027		446,310
	13,687	Ford Credit Auto Lease Trust 2021-B 4 0.370%, 10/15/2024		13,661
	250,000	Fortress Credit BSL XIX Ltd. 4,5 11.583% (3-Month Term SOFR+627 basis points), 7/24/2036		245,000
	500,000	Foundation Finance Trust 2023-1 4 9.180%, 12/15/2043		481,971
	100,000	Frontier Issuer, LLC 4 8.300%, 8/20/2053		95,060
	250,000	GLS Auto Receivables Issuer Trust 2023-2 4 5.700%, 1/15/2027		249,107
	100,000	GLS Auto Receivables Issuer Trust 2023-2 4 5.520%, 11/15/2027		98,376
	100,000	GLS Auto Receivables Issuer Trust 2023-2 4 5.690%, 3/15/2029		97,756
	100,000	GLS Auto Receivables Issuer Trust 2023-2 4 6.310%, 3/15/2029		98,608
	411,307	GLS Auto Receivables Issuer Trust 2023-3 4 5.715%, 8/15/2024		411,307
	101,666	GM Financial Automobile Leasing Trust 2023-1 4 5.270%, 6/20/2025		101,376
	500,000	Lendmark Funding Trust 2023-1 4 8.690%, 5/20/2033		510,989
	221,756	Lunar Aircraft 2020-1 LTD 3,4 3.376%, 2/15/2045		192,185
	250,000	Man US CLO 2023-1 Ltd. 3,4,5 9.362% (3-Month Term SOFR+400 basis points), 7/20/2035		250,000
	250,000	Man US CLO 2023-1 Ltd. 3,4,5 11.212% (3-Month Term SOFR+585 basis points), 7/20/2035		245,000
	250,000	MetroNet Infrastructure Issuer LLC 4 6.560%, 4/20/2053		242,536
	250,000	MetroNet Infrastructure Issuer LLC 4 8.010%, 4/20/2053		240,945
	250,000	New Mountain Guardian IV Rated Feeder I Ltd. 3,4,5 9.822% (3-Month Term SOFR+450 basis points), 11/15/2036		250,000
	100,000	OneMan Financial Issuance Trust 2023-2 4 7.520%, 9/15/2036		99,992

Monachil Credit Income Fund

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

As of September 30, 2023

Principal
Amount1			Value
		ASSET BACKED SECURITIES - 61.30% (continued)
	183,116	Oportun Issuance Trust 2022-3 3,4 7.451%, 1/8/2030	$	183,094
	190,000	Santander Drive Auto Receivable Trust 2020-1 4 5.350%, 3/15/2028		189,131
	48,751	Santander Drive Auto Receivable Trust 2021-1 4 0.750%, 2/17/2026		48,643
	80,117	Toyota Auto Receivables 2022-B Owner Trust 4 2.350%, 1/15/2025		79,801
	400,000	Upstart Securitization Trust 2021-3 3,4 1.660%, 7/20/2031		391,588
	223,292	Upstart Securitization Trust 2023-2 4 6.770%, 6/20/2033		223,283
	250,000	Upstart Securitization Trust 2023-2 4 7.920%, 6/20/2033		249,938
		TOTAL ASSET BACKED SECURITIES (Cost $12,566,123)		12,548,077
		BANK LOANS - 11.79%
	3,570,197	Innovate Master Trust Series 2023-1 4 0.000%, 11/7/2036		2,206,052
	100,000	Mileage Plus Holdings LLC 4,5 10.906%, (3-Month Term SOFR) 6/20/2027		104,046
	100,000	SkyMiles IP Ltd. 4,5 9.068% (1-Month Term SOFR), 9/16/2027		104,000
		TOTAL BANK LOANS (Cost $2,434,637)		2,414,098
		CORPORATE BONDS - 2.76%
	200,000	Ares Capital Corp. 4 3.250%, 7/15/2025		187,446
	100,000	Barings BDC, Inc. 4 3.300%, 11/23/2026		87,870
	100,000	Blackstone Private Credit Fund 2.350%, 11/22/2024		94,931
	200,000	Sixth Street Specialty Lending, Inc. 4 3.875%, 11/1/2024		194,266
		TOTAL CORPORATE BONDS (Cost $566,975)		564,513
		RECEIVABLE CLAIMS PORTFOLIO - 16.31%
	11,595	Pool of Trade Receivables Purchase Deed No. 105 8/29/2023		9,131
	9,719	Pool of Trade Receivables Purchase Deed No. 111 9/18/2023		7,654
	89,358	Pool of Trade Receivables Purchase Deed No. 115 10/2/2023		64,701
	34,382	Pool of Trade Receivables Purchase Deed No. 116 10/4/2023		24,174
	30,392	Pool of Trade Receivables Purchase Deed No. 117 9/28/2023		21,466

Monachil Credit Income Fund

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

As of September 30, 2023

Principal
Amount1			Value
		RECEIVABLE CLAIMS PORTFOLIO - 16.31% (continued)
	135,964	Pool of Trade Receivables Purchase Deed No. 118 10/18/2023	$	103,229
	69,719	Pool of Trade Receivables Purchase Deed No. 119 10/18/2023		49,344
	57,842	Pool of Trade Receivables Purchase Deed No. 120 10/23/2023		45,550
	42,338	Pool of Trade Receivables Purchase Deed No. 121 10/16/2023		33,201
	13,940	Pool of Trade Receivables Purchase Deed No. 122 10/29/2023		10,815
	27,641	Pool of Trade Receivables Purchase Deed No. 123 10/30/2023		21,578
	72,879	Pool of Trade Receivables Purchase Deed No. 124 11/2/2023		56,616
	65,482	Pool of Trade Receivables Purchase Deed No. 125 10/8/2023		48,047
	162,184	Pool of Trade Receivables Purchase Deed No. 126 11/12/2023		125,883
	57,696	Pool of Trade Receivables Purchase Deed No. 127 11/12/2023		41,905
	475,166	Pool of Trade Receivables Purchase Deed No. 128 11/19/2023		350,061
	198,243	Pool of Trade Receivables Purchase Deed No. 129 11/19/2023		141,157
	318,302	Pool of Trade Receivables Purchase Deed No. 130 11/26/2023		228,824
	154,405	Pool of Trade Receivables Purchase Deed No. 131 10/29/2023		112,014
	307,460	Pool of Trade Receivables Purchase Deed No. 132 11/29/2023		228,183
	113,822	Pool of Trade Receivables Purchase Deed No. 133 11/6/2023		81,113
	410,544	Pool of Trade Receivables Purchase Deed No. 134 12/10/2023		305,848
	200,718	Pool of Trade Receivables Purchase Deed No. 135 11/13/2023		147,832
	333,654	Pool of Trade Receivables Purchase Deed No. 136 12/14/2023		252,094
	132,373	Pool of Trade Receivables Purchase Deed No. 137 12/17/2023		99,609
	1,107,476	Pool of Trade Receivables Purchase Deed No. 138 12/24/2023		655,731
	100,134	Pool of Trade Receivables Purchase Deed No. 139 12/27/2023		74,009
		TOTAL RECEIVABLE CLAIMS PORTFOLIO (Cost $3,393,157)		3,339,769

Monachil Credit Income Fund

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)(Continued)

As of September 30, 2023

Principal
Amount1			Value
		U.S. TREASURY BILL - 7.71%
	380,000	5.271%, 10/3/2023	$	379,945
	1,200,000	5.259%, 10/12/2023		1,198,244
		TOTAL U.S. TREASURY BILL (Cost $1,577,960)		1,578,189
		TOTAL INVESTMENTS - 99.87% (Cost $20,538,852)		20,444,646
		Other Assets in Excess of Liabilities - 0.13% 2		26,652
		TOTAL NET ASSETS - 100.00%	$	20,471,298

1	Local Currency
2	Includes Cash, Cash equivalents, Unrealized appreciation on forward foreign currency exchange contracts, Dividends and interest, and Total liabilities.
3	Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities are restricted and may be resold in transactions exempt from registration normally to qualified institutional buyers. The total value of these securities is $3,734,573, which represents 18.24% of the total net assets of the Fund.
4	Callable
5	Floating rate security, upon which the interest rate adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. Rate shown is the rate in effect as of period end.
See accompanying Notes to Schedules of Investments.

Monachil Credit Income Fund

CONSOLIDATED SCHEDULE OF INVESTMENTS - (Unaudited)(Continued)

As of September 30, 2023

FORWARD FOREIGN CURRENCY CONTRACTS

				Currency									Unrealized
		Currency	Settlement	Amount						Value at			Appreciation
Sale Contracts	Counterparty	Exchange	Date	Sold			Notional Value			September 30, 2023			(Depreciation)
Euro	Alpha FX	EUR per USD	October 10, 2023		(2,680,000	)	$	(2,950,412	)	$	(2,834,654	)	$	115,758
Euro	Alpha FX	EUR per USD	October 17, 2023		(100,000	)		(109,400	)		(105,803	)		3,597
Euro	Alpha FX	EUR per USD	October 24, 2023		(200,000	)		(217,160	)		(211,672	)		5,488
Euro	Alpha FX	EUR per USD	November 22, 2023		(100,000	)		(107,440	)		(105,974	)		1,466
							$	(3,384,412	)	$	(3,258,103	)	$	126,309

EUR - Euro

See accompanying Notes to Financial Statements.