Top 10 Holdings as of 9/30/23 (%)
| % of Net Assets | |
|---|---|
| Cimpress PLC., 06/15/2026 7.000% | 4.30 |
| Opnet S.P.A., 08/09/2023 8.452% | 3.80 |
| WildBrain Ltd., 09/30/2024 5.875% | 3.10 |
| Turning Point Brands 02/15/2026, 5.625% | 3.00 |
| QVC, Inc., 04/01/2024, 4.850% | 3.50 |
| % of Net Assets | |
|---|---|
| Fiserv, Inc., 10/01/2023, 3.800% | 3.00 |
| Abercrombie & Fitch 07/15/2025, 8.750% | 3.30 |
| ANGI Group LLC, 08/15/2028, 3.875% | 2.70 |
| WASH Multifamily 04/15/2026, 5.750% | 2.60 |
| Truelieve Cannibis Corp., 10/06/2026, 8.000% | 2.50 |
Sector Allocation as of 09/30/23 (%)
| % of Net Assets | |
|---|---|
| Industrials | 21.4 |
| Healthcare | 19.9 |
| Financials | 14.1 |
| Consumer Discretionary | 11.0 |
| Energy | 10.9 |
| Communication Services | 8.7 |
| Consumer Staples | 5.3 |
| Real Estate | 4.5 |
| Technology | 1.9 |
| Materials | 1.2 |
| Cash & Equivalent | 1.1 |
Asset Allocation as of 09/30/23 (%)
| % of Net Assets | |
|---|---|
| Corporate Bonds | 85.3 |
| Loans | 10.2 |
| Convertible Bonds | 3.1 |
| Cash & Cash Equivalents | 1.0 |
| Preferred Stocks | .4 |
Credit Quality as of 09/30/23 (%)
| Standard and Poor's Credit Quality | % of Net Assets |
|---|---|
| A+ | 1.4 |
| BBB+ | 2.4 |
| BBB | 6.8 |
| BBB- | 4.3 |
| BB | 13.9 |
| BB- | 9.2 |
| B+ | 10.4 |
| B | 7.0 |
| B- | 13.8 |
| CCC+ | 6.1 |
| CCC | .7 |
| Non-Rated | 23 |
| Cash or Equivalent | 1 |
Portfolio Characteristics as of 09/30/23
Weighted Avg Maturity
2.75yrs
Weighted Avg Yield to Maturity
13.68%
Modified Duration
1.97 yrs
30-day Subsidized SEC Yield
11.31%
30-day Unsubsidized SEC Yield
11.24%