Top 10 Holdings as of 9/30/2018 (%)
| % of Net Assets | |
|---|---|
| Silgan Holdings, Inc., 02/01/2022, 5.500% | 4.26 |
| Cable One, Inc., 06/15/2022, 5.750% | 4.15 |
| FTI Consulting, Inc., 11/15/2022, 6.000% | 4.05 |
| Ecolab, Inc., 01/14/2019, 2.000% | 3.75 |
| Dollar Tree, Inc., 04/17/2020, 3.036% | 3.64 |
| % of Net Assets | |
|---|---|
| Dorel Industries, Inc., 11/30/2019, 5.500% | 3.45 |
| Edwards Lifesciences Corp., 10/15/2018, 2.875% | 3.39 |
| Omnicom Group, Inc. / Omnicom Capital, Inc., 07/15/2019, 6.250% | 3.28 |
| The Sherwin-Williams Co., 06/15/2019, 7.250% | 3.24 |
| Discovery Communications LLC, 08/15/2019, 5.625% | 3.21 |
Asset Allocation as of 09/30/18 (%)
| % of Net Assets | |
|---|---|
| Corporate Bonds | 87.1 |
| Convertible Bonds | 5.4 |
| Cash & Cash Equivalents | 4.5 |
| US Treasuries | 2.0 |
| Preferred Stocks | 1.0 |
Credit Quality as of 09/30/18 (%)
| Standard and Poor's Credit Quality | % of Net Assets |
|---|---|
| A- | 8.6 |
| BBB+ | 12.0 |
| BBB | 9.9 |
| BBB- | 15.5 |
| BB+ | 4.2 |
| BB | 16.5 |
| BB- | 9.4 |
| B+ | 2.6 |
| B | 2.5 |
| B- | 4.9 |
| Not Rated | 7.4 |
| US Treasuries | 2.0 |
| Cash and Cash Equivalents | 4.5 |
Portfolio Characteristics as of 09/30/18
Weighted Avg Maturity
2.05 yrs
Weighted Avg Yield to Maturity
3.64%
Modified Duration
1.74 yrs
30-day Subsidized SEC Yield
2.94%
30-day Unsubsidized SEC Yield
2.73%