Income Fund

Top 10 Holdings as of 12/31/20 (%)

% of Net Assets
Curaleaf, Inc., 01/10/2024, 13.000% 5.20
Trulieve Cann., 06/18/2024, 9.750% 4.50
Teekay, 01/15/2023, 5.000% 4.50
Turning Pt. Brands, 07/15/2024, 2.500% 4.30
Vista Outdoor, 10/01/2023, 5.875% 3.90
% of Net Assets
Oppenheimer, 10/01/2025, 5.500% 3.80
CTO Realty Growth, 04/15/2025, 3.875% 3.50
Meredith, 02/01/2026, 6.875% 3.40
Teekay, 11/15/2022, 9.250% 3.20
Caleres, 08/15/2023, 6.250% 3.20

Asset Allocation as of 06/30/20 (%)

% of Net Assets
Corporate Bonds 72.2
Convertible Bonds 24.1
Cash & Cash Equivalents 3.7

Credit Quality as of 06/30/20 (%)

Standard and Poor's Credit Quality % of Net Assets
BBB+ 1.9
BBB- 1.7
BB+ 0.5
BB 7.0
BB- 6.0
B+ 18.3
B 13.2
B- 5.2
CCC+ 6.9
Non-Rated 37.3
Warrants 0.2
Cash & Cash Equivalents .4

Portfolio Characteristics as of 06/30/20

Weighted Avg Maturity

3.07 yrs

Weighted Avg Yield to Maturity

8.57%

Modified Duration

2.65 yrs

30-day Subsidized SEC Yield

6.43%

30-day Unsubsidized SEC Yield

6.25%
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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