Income Fund

Top 10 Holdings as of 3/31/2020 (%)

% of Net Assets
Fiat Chrysler Automobiles NV, 04/15/2020, 4.500% 4.6
Expedia Group, Inc., 08/15/2020, 5.950% 4.0
Trip.com Group Ltd., 07/01/2020, 1.000% 3.1
Enerpac Tool Group, 06/15/2022, 5.625% 2.8
Levi Strauss & Co., 05/01/2025, 5.000% 2.8
% of Net Assets
Vistra Energy Corp., 06/01/2023, 5.875% 2.7
Ingles Markets Inc., 06/15/2023, 5.750% 2.7
Cincinnati Bell Inc., 10/15/2025, 8.000% 2.7
MagnaChip Semiconductor Corp., 07/15/2021, 6.625% 2.6
Echo Global Logistics, Inc., 05/01/2020, 2.500% 2.5

Asset Allocation as of 03/31/20 (%)

% of Net Assets
Corporate Bonds 80.7
Convertible Bonds 15.5
Cash & Cash Equivalents 3.8

Credit Quality as of 03/31/20 (%)

Standard and Poor's Credit Quality % of Net Assets
BBB+ 0.4
BBB 10.2
BBB- 8.3
BB+ 13.6
BB 16.0
BB- 12.2
B+ 3.2
B 5.1
B- 4.9
CCC+ 5.1
Non-Rated 17.2
Cash & Cash Equivalents 3.8

Portfolio Characteristics as of 03/31/20

Weighted Avg Maturity

2.32 yrs

Weighted Avg Yield to Maturity

8.4%

Modified Duration

1.97 yrs

30-day Subsidized SEC Yield

6.30%

30-day Unsubsidized SEC Yield

6.11%
Fund holdings and asset allocation are subject to change at any time and should not be considered a recommendation to buy or sell any security. Current and future portfolio holdings are subject to risk.
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