Top 10 Holdings holdings by Issuer as of 3/31/26 (%)
| % of Net Assets | |
|---|---|
| The Realreal, Inc. | 4.1 |
| United Natural Foods Inc. | 2.9 |
| Pitney Bowes Inc. | 2.8 |
| Beach Acquisition Bidco (Skechers) | 2.8 |
| Viapath Technologies | 2.7 |
| % of Net Assets | |
|---|---|
| Angi Group LLC | 2.7 |
| Cinemark USA Inc. | 2.7 |
| PHH Escrow Issuer LLC | 2.6 |
| Twilio Inc. | 2.6 |
| Liberty Broadband Corp. | 2.4 |
Sector Allocation as of 03/31/26 (%)
| % of Net Assets | |
|---|---|
| Consumer Discretionary | 21.5 |
| Financials | 16.3 |
| Communication Services | 15.5 |
| Industrials | 13.7 |
| Consumer Staples | 9.8 |
| Information Technology | 7.0 |
| Health Care | 4.8 |
| Real Estate | 4.1 |
| Energy | 3.5 |
| Materials | 3.0 |
| Cash and Cash Equivalents | 0.8 |
Asset Allocation as of 03/31/26 (%)
| % of Net Assets | |
|---|---|
| Corporate Bonds | 76.7 |
| Loans | 13.7 |
| Convertible Bonds | 6.2 |
| Preferred Stocks | 1.4 |
| Common Stocks | 1.2 |
| Cash or Equivalent | 0.8 |
Credit Quality as of 03/31/26 (%)
| Standard and Poor's Credit Quality | % of Net Assets |
|---|---|
| A | 2.7 |
| BBB | 7.9 |
| BB | 25.1 |
| B | 30.3 |
| CCC | 6.3 |
| Non-rated | 24.3 |
| Preferred Stock | 1.4 |
| Common Stock | 1.2 |
| Cash or Equivalent | 0.8 |
Portfolio Characteristics as of 03/31/26
Weighted Avg Maturity
3.90 yrs
Weighted Avg Yield to Worst
8.44%
Effective Duration
1.76 yrs
30-day Subsidized SEC Yield
7.15%
30-day Unsubsidized SEC Yield
7.23%