Opportunistic Credit Interval Fund NPORT-P Opportunistic Credit Interval Fund (Dec 2023 report)

Opportunistic Credit Interval Fund

PORTFOLIO OF INVESTMENTS

December 31, 2023 (Unaudited)

	Coupon			Reference Rate & Spread	Maturity	Principal		Value
BANK LOANS (61.34%)
Communication Services (7.65%)
Neptune Bidco US Inc., First Lien Term Loan(a)(b)		10.51	%	3M SOFR + 5.00%, 0.50% Floor	04/11/2029	$	1,645,865	$	1,507,793
Neptune Bidco US Inc., First Lien Term Loan A(a)(b)		10.16	%	3M SOFR + 4.75%, 0.50% Floor	10/11/2028		1,000,000		915,715
Next Flight Ventures, First Lien Term Loan(a)(b)		15.61	%	3M SOFR + 10.00%	12/26/2025		1,340,625		1,304,005
Next Flight Ventures, Delayed Draw Term Loan(a)(b)(c)		–	%	3M SOFR + 10.00%	12/26/2025		–		–
Synamedia Americas Holdings, Inc., First Lien Term Loan(a)(b)		13.10	%	1M SOFR + 7.75%, 1.00% Floor	12/05/2028		1,724,138		1,663,793
									5,391,306
Consumer Staples (5.73%)
Alphia, Inc., First Lien Term Loan(a)(b)		10.35	%	3M SOFR + 5.00%	10/03/2030		1,500,000		1,405,875
Florida Food Products LLC, First Lien Term Loan(a)(b)		10.47	%	1M SOFR + 5.00%, 0.75% Floor	10/18/2028		2,092,678		1,836,325
Global Integrated Flooring Systems Inc., First Lien Term Loan(a)(b)(i)		14.76	%	3M SOFR + 8.36%, 1.00% PIK, 1.25% Floor	05/15/2024		1,310,416		789,395
Global Integrated Flooring Systems Inc., Revolver(a)(b)(i)		14.72	%	1M SOFR + 8.36%, 1.00% PIK, 1.25% Floor	05/15/2024		12,068		7,270
									4,038,865
Financials (3.03%)
AIS Holdco, LLC, Second Lien Term Loan(a)(b)		14.39	%	3M SOFR + 8.75%	08/15/2026		250,000		233,750
Cor Leonis Limited, Revolver(a)(b)(c)		12.85	%	3M SOFR + 7.50%, 1.50% Floor	05/15/2028		148,123		148,123
Lion FIV Debtco Limited, Revolver(a)(b)(c)		–	%	1M SOFR + 11.00%	10/18/2024		–		–
Royal Palm Equity Partners I L.P., First Lien Term Loan(a)(b)(c)		–	%	3M SOFR + 7.00%, 2.50% Floor	10/24/2033		–		–
Royal Palm Equity Partners I L.P., Delayed Draw Term Loan(a)(b)(c)		–	%	3M SOFR + 7.00%, 2.50% Floor	10/24/2033		–		–
Royal Palm Equity Partners I L.P., Initial First Lien Term Loan(a)(b)		12.40	%	3M SOFR + 7.00%, 2.50% Floor	10/24/2033		541,932		541,932
Royal Palm Equity Partners II L.P., First Lien Term Loan(a)(b)		13.40	%	3M SOFR + 8.00%, 2.50% Floor	10/24/2028		36,901		36,901
TA/WEG HOLDINGS, LLC, 2020 Delayed Draw Term Loan(a)(b)		11.23	%	3M SOFR + 5.75%, 1.00% Floor	10/04/2027		312,335		312,334
TA/WEG HOLDINGS, LLC, 2021 Delayed Draw Term Loan(a)(b)		11.23	%	3M SOFR + 5.75%, 1.00% Floor	10/04/2027		466,927		466,926
TA/WEG HOLDINGS, LLC, May 2022 Delayed Draw Term Loan(a)(b)(c)		11.23	%	6M SOFR + 5.75%, 1.00% Floor	10/04/2027		396,662		396,662
									2,136,628
Health Care (2.15%)
Dentive LLC, First Lien Term Loan(a)(b)		12.35	%	3M SOFR + 7.00%, 1.00% Floor	12/26/2028		239,428		235,334
Dentive LLC, Delayed Draw Term Loan(a)(b)(c)		12.38	%	3M SOFR + 7.00%, 1.00% Floor	12/26/2028		50,298		49,294
IDC Infusion Services, Inc., First Lien Term Loan(a)(b)		11.98	%	3M SOFR + 6.50%, 0.50% Floor	07/07/2028		366,883		360,940
IDC Infusion Services, Inc., Delayed Draw Term Loan(a)(b)(c)		–	%	3M SOFR + 6.50%, 0.50% Floor	07/07/2028		–		506
PhyNet Dermatology LLC, First Lien Term Loan(a)(b)		11.99	%	6M SOFR + 6.50%, 1.00% Floor	10/20/2029		486,536		481,671
PhyNet Dermatology LLC, Delayed Draw Term Loan(a)(b)(c)		–	%	6M SOFR + 6.50%, 1.00% Floor	10/20/2029		–		–

	Coupon			Reference Rate & Spread	Maturity	Principal		Value
South Florida ENT Associates, First Lien Term Loan(a)(b)		12.45	%	3M SOFR + 7.00%, 1.00% Floor	03/04/2025	$	393,471	$	386,231
									1,513,976
Industrials (10.94%)
Accordion Partners, LLC, Delayed Draw Term Loan A(a)(b)		11.60	%	3M SOFR + 6.25%, 0.75% Floor	08/29/2029		7,263		7,327
Accordion Partners, LLC, Delayed Draw Term Loan B(a)(b)		11.38	%	3M SOFR + 6.25%, 0.75% Floor	08/29/2029		9,124		9,113
Accordion Partners, LLC, First Lien Term Loan A(a)(b)		11.35	%	3M SOFR + 6.25%, 0.75% Floor	08/29/2029		82,741		82,641
Accordion Partners, LLC, Third Amendment Delayed Draw Term Loan(a)(b)(c)		11.63	%	3M SOFR + 6.50%, 0.75% Floor	08/29/2029		48,000		49,320
Accordion Partners, LLC, Third Amendment First Lien Term Loan(a)(b)		11.63	%	3M SOFR + 6.50%, 0.75% Floor	08/29/2029		99,750		100,628
Arcline FM Holdings, LLC, First Lien Term Loan(a)(b)		10.86	%	3M SOFR + 5.25%, 0.75% Floor	06/23/2028		498,750		499,997
Marvel APS, Delayed Draw Term Loan(a)(i)		10.00	%	PIK	12/21/2027		3,041,667		3,357,841
Material Handling Systems, Inc., First Lien Term Loan(a)(b)		10.89	%	3M SOFR + 5.50%, 0.50% Floor	06/08/2029		1,488,712		1,322,572
Qualtek LLC, First Lien Term Loan(a)(b)(i)		15.39	%	3M SOFR + 1.00%, 9.00% PIK, 1.00% Floor	07/14/2025		357,504		357,504
Qualtek LLC, Second Lien Term Loan(a)(b)(i)		15.39	%	3M SOFR + 1.00%, 9.00% PIK, 1.00% Floor	01/14/2027		247,374		247,374
Tactical Air Support, Inc., First Lien Term Loan(a)(b)		13.96	%	1M SOFR + 8.50%, 1.00% Floor	12/22/2028		1,714,286		1,671,428
Tactical Air Support, Inc., Delayed Draw Term Loan(a)(b)(c)		–	%	1M SOFR + 8.50%, 1.00% Floor	12/22/2028		–		–
									7,705,745
Information Technology (24.74%)
Alegeus Technologies Holdings Corp., First Lien Term Loan(a)(b)		13.75	%	3M SOFR + 8.25%, 1.00% Floor	09/05/2024		365,000		365,000
Athos Merger Sub LLC, First Lien Term Loan(a)(b)		10.65	%	3M SOFR + 5.00%	07/31/2026		236,763		232,175
Athos Merger Sub LLC, Second Lien Term Loan(a)(b)		13.90	%	3M SOFR + 8.25%	07/30/2027		160,771		155,144
DCert Buyer, Inc., First Amendment Term Loan Refinancing, Second Lien Term Loan(a)(b)		12.36	%	1M SOFR + 7.00%	02/16/2029		1,500,000		1,372,500
Enverus Holdings, Inc., Initial First Lien Term Loan(a)(b)		10.86	%	3M SOFR + 5.50%, 1.00% Floor	12/12/2029		814,028		801,818
Enverus Holdings, Inc., Revolver(a)(b)(c)		–	%	3M SOFR + 5.50%, 1.00% Floor	12/12/2029		–		(1,115	)
Global IID Parent LLC, Second Lien Term Loan(a)(b)		13.36	%	3M SOFR + 7.75%, 0.50% Floor	12/16/2029		165,000		156,965
Global IID Parent LLC, First Lien Term Loan(a)(b)		10.11	%	3M SOFR + 4.50%, 0.50% Floor	12/08/2028		2,096,565		2,009,641
HDC / HW Intermediate Holdings, LLC, First Lien Term Loan(a)(b)(i)(j)		–	%	3M SOFR + 7.50%, 2.00% PIK, 1.00% Floor	12/21/2023		1,254,113		708,574
HDC / HW Intermediate Holdings, LLC, Revolver(a)(b)(i)(j)		–	%	3M SOFR + 7.50%, 2.00% PIK, 1.00% Floor	12/21/2023		128,792		72,768
Ivanti Software, Inc., First Lien Term Loan(a)(b)		9.91	%	3M SOFR + 4.25%, 0.75% Floor	12/01/2027		1,467,694		1,397,186
Kofax, Inc., First Lien Term Loan(a)(b)		10.73	%	3M SOFR + 5.25%, 0.50% Floor	07/20/2029		2,592,487		2,357,012
Morae Global Corporation, First Lien Term Loan(a)(b)		13.53	%	3M SOFR + 8.00%, 2.00% Floor	10/26/2026		1,366,406		1,301,502
Morae Global Corporation, Revolver(a)(b)(c)		–	%	3M SOFR + 8.00%, 2.00% Floor	10/26/2026		–		(5,938	)

	Coupon			Reference Rate & Spread	Maturity	Principal		Value
PEAK Technology Partners, Inc., First Lien Term Loan(a)(b)		11.79	%	3M SOFR + 6.40%, 1.00% Floor	07/22/2027	$	621,494	$	612,544
Priority Holdings LLC, First Lien Term Loan(a)(b)		11.22	%	1M SOFR + 5.75%, 1.00% Floor	04/22/2027		1,994,885		1,987,504
Tank Holding Corp., First Lien Term Loan(a)(b)		11.21	%	1M SOFR + 5.75%, 0.75% Floor	03/31/2028		847,854		813,939
Tank Holding Corp., Revolver(a)(b)(c)		11.21	%	1M SOFR + 5.75%, 0.75% Floor	03/31/2028		1,826		1,552
Taoglas Group Holdings Limited, First Lien Term Loan(a)(b)		12.60	%	3M SOFR + 7.25%, 1.00% Floor	02/28/2029		311,648		292,576
Taoglas Group Holdings Limited, Revolver(a)(b)(c)		12.52	%	3M SOFR + 7.25%, 1.00% Floor	02/28/2029		51,133		45,870
Zywave, Inc., First Lien Term Loan(a)(b)		10.04	%	3M SOFR + 4.50%, 0.75% Floor	11/12/2027		2,997,442		2,760,150
									17,437,367
Real Estate (7.10%)
RHF VI Funding LLC, Revolver(a)(b)		11.65	%	3M SOFR + 7.50%	11/19/2024		5,000,000		5,000,000
									5,000,000
TOTAL BANK LOANS
(Cost $42,543,422)									43,223,887
BONDS & NOTES (0.59%)
Asset Backed Securities (0.59%)
Mount Logan Funding 2018-1 LP(a)(d)		25.47	%	N/A	01/22/2033		479,858		417,764
TOTAL BONDS & NOTES
(Cost $405,513)									417,764

	Shares		Value
COMMON EQUITY (1.76%)
Communication Services (0.01%)
Next Flight Ventures(a)(e)		23		3,536
NFV Co-Pilot, Inc.(a)(e)		114		6,272
				9,808
Consumer Discretionary (1.75%)
IFRG Investor III, L.P.(a)(e)		1,250,000		1,232,937
				1,232,937
Industrials (0.00%)
Qualtek LLC(a)(e)		28,521		–
TOTAL COMMON EQUITY
(Cost $1,502,536)				1,242,745

	Shares		Value
JOINT VENTURE (5.17%)
Joint Venture (5.17%)
Great Lakes Funding II LLC, Series A(c)(d)(f)(g)		3,556,537		3,639,951
				3,639,951
TOTAL JOINT VENTURE
(Cost $3,556,537)				3,639,951

	Shares		Value
WARRANTS (0.08%)
INFORMATION TECHNOLOGY (0.08%)
Morae Global Corporation, Warrants(a)		1		59,689
TOTAL WARRANTS
(Cost $52,195)				59,689
SHORT- TERM INVESTMENTS (33.01%)
US BANK MMDA - USBGFS 9, 5.27%(h)		23,265,838		23,265,838
TOTAL SHORT- TERM INVESTMENTS
(Cost $23,265,838)				23,265,838
INVESTMENTS, AT VALUE (101.95%)
(Cost $71,325,741)			$	71,849,874
Other Liabilities In Excess Of Other Assets (-1.95%)				(1,377,604	)
NET ASSETS (100.00%)			$	70,472,270

Investment Abbreviations:

SOFR - Secured Overnight Financing Rate

PIK - Payment in-kind

Reference Rates:

1M US SOFR - 1 Month US SOFR as of December 31, 2023 was 5.35%

3M US SOFR - 3 Month US SOFR as of December 31, 2023 was 5.33%

6M US SOFR - 6 Month US SOFR as of December 31, 2023 was 5.16%

^(a) As a result of the use of significant unobservable inputs to determine fair value, these investments have been classified as Level 3 assets.

^(b) Variable rate investment. Interest rates reset periodically. Interest rate shown reflects the rate in effect at December 31, 2023. For securities based on a published reference rate and spread, the reference rate and spread are indicated in the description above. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above.

^(c) All or a portion of this commitment was unfunded as of December 31, 2023.

^(d) Affiliated company - The Fund owns greater than 5% of the outstanding voting securities of this issuer.

^(e) Non-income producing security.

^(f) Restricted security.

^(g) During the period ended December 31, 2023, the Fund invested $3,751,644 in Great Lakes Funding II, LLC - Series A units, received a return of capital distribution of $291,303, and reported change in unrealized appreciation of $85,507 on Great Lakes Funding II, LLC - Series A units. Additionally, Great Lakes Funding II LLC - Series A declared distributions of $168,660 during the period ended December 31, 2023.

^(h) Money market fund; interest rate reflects seven-day effective yield on December 31, 2023.

⁽ⁱ⁾ Payment in-kind security which may pay interest in additional par.

^(j) Non-accrual.

Additional information on investments in private investment funds:

Security	Value		Redemption Frequency	Redemption Notice(Days)	Unfunded Commitments as of December 31, 2023
Great Lakes Funding II LLC, Series A	$	3,639,951	N/A	N/A	$	442,411
Total	$	3,639,951			$	442,411

Unfunded Commitments

Security	Value			Maturity Date	Unfunded Commitments as of December 31, 2023
Taoglas Group Holdings Limited, Revolver	$	45,870		02/28/2029		34,863
Accordion Partners, LLC, Third Amendment Delayed Draw Term Loan		49,320		08/29/2029		102,000
Cor Leonis Limited, Revolver		148,123		05/15/2028		66,767
IDC Infusion Services, Inc., Delayed Draw Term Loan		506		07/07/2028		133,117
Lion FIV Debtco Limited, Revolver		-		10/18/2024		1,750,000
Royal Palm Equity Partners I L.P., Delayed Draw Term Loan		-		10/24/2033		354,814
Royal Palm Equity Partners I L.P., First Lien Term Loan		-		10/24/2033		70,963
Morae Global Corporation, Revolver		(5,938	)	10/26/2026		125,000
PhyNet Dermatology LLC, Delayed Draw Term Loan		-		10/20/2029		1,013,464
Tactical Air Support, Inc., Delayed Draw Term Loan		-		12/22/2028		285,714
Next Flight Ventures, Delayed Draw Term Loan		-		12/26/2025		309,375
TA/WEG HOLDINGS, LLC, May 2022 Delayed Draw Term Loan		396,662		10/04/2027		71,257
Enverus Holdings, Inc., Revolver		(1,115	)	12/12/2029		74,324
Dentive LLC, Delayed Draw Term Loan		49,294		12/26/2028		68,363
Tank Holding Corp., Revolver		1,552		03/31/2028		5,022
Total	$	684,274			$	4,465,043
Total Unfunded Commitments					$	4,907,454

Security determined to be restricted under the procedures approved by the Fund's Board of Trustees are as follows.
Date(s) of Purchase	Security	Cost		Value		% of Net Assets
8/5/2022, 11/2/2023	Great Lakes Funding II LLC, Series A	$	3,556,537	$	3,639,951		5.17	%