Top 10 Holdings as of 3/31/2019 (%)
| % of Net Assets | |
|---|---|
| INVISTA Finance LLC, 10/15/2019, 4.250% | 4.65 |
| Dollar Tree, Inc., 04/17/2020, 3.473% | 4.41 |
| CDP Financial, Inc., 11/25/2019, 4.400% | 4.12 |
| Gilead Sciences, Inc., 09/20/2019, 1.850% | 4.05 |
| Omnicom Group, Inc. / Omnicom Capital, Inc., 07/15/2019, 6.250% | 3.93 |
| % of Net Assets | |
|---|---|
| FirstCash, Inc., 06/01/2024, 5.375% | 3.87 |
| The Sherwin-Williams Co., 06/15/2019, 7.250% | 3.86 |
| Central Garden & Pet Co., 11/15/2023, 6.125% | 3.86 |
| Actuant Corp., 06/15/2022, 5.625% | 3.84 |
| International Business Machines Corp., 05/17/2019, 1.800% | 3.78 |
Asset Allocation as of 03/31/19 (%)
| % of Net Assets | |
|---|---|
| Corporate Bonds | 90.5 |
| Convertible Bonds | 6.0 |
| Preferred Stocks | 1.8 |
| Cash & Cash Equivalents | 1.7 |
Credit Quality as of 03/31/19 (%)
| Standard and Poor's Credit Quality | % of Net Assets |
|---|---|
| AAA | 4.0 |
| AA+ | 2.2 |
| AA- | 3.2 |
| A | 7.6 |
| A- | 2.8 |
| BBB+ | 6.9 |
| BBB | 11.5 |
| BBB- | 13.0 |
| BB | 17.5 |
| BB- | 10.9 |
| B | 12.0 |
| Not Rated | 6.7 |
| Cash and Cash Equivalents | 1.7 |
Portfolio Characteristics as of 03/31/19
Weighted Avg Maturity
2.13 yrs
Weighted Avg Yield to Maturity
4.18%
Modified Duration
1.62 yrs
30-day Subsidized SEC Yield
2.86%
30-day Unsubsidized SEC Yield
2.69%