UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM N-Q

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS

OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-21654

 

Pioneer Floating Rate Trust

(Exact name of registrant as specified in charter)

 

60 State Street, Boston, MA 02109

(Address of principal executive offices) (ZIP code)

 

Terrence J. Cullen, Pioneer Investment Management, Inc.,

60 State Street, Boston, MA 02109

(Name and address of agent for service)

 

Registrant's telephone number, including area code:  (617) 742-7825

 

Date of fiscal year end:  November 30

Date of reporting period:  February 28, 2019

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after close of the first and third fiscal quarters, pursuant to Rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5).  The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609.  The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss. 3507.

ITEM 1. Schedule of Investments.

File the schedules as of the close of the reporting period as set forth in ss. 210.12-12 – 12-14 of Regulation S-X [17 CFR 210.12-12 – 12-14]. The schedules need not be audited.

		Pioneer Floating Rate Trust
		NQ | February 28, 2019
		Ticker Symbol:    PHD

	Principal Amount USD ($)				Value
			UNAFFILIATED ISSUERS - 146.5%
			SENIOR SECURED FLOATING RATE LOAN INTERESTS - 131.8% of Net Assets*(a)
			Aerospace & Defense - 5.4%
	888,333		Accudyne Industries Borrower SCA/Accudyne Industries LLC (fka Silver II US Holdings LLC), Initial Term Loan, 5.493% (LIBOR + 300 bps), 8/18/24		$888,804
	627,900		Air Canada, Replacement Term Loan, 4.493% (LIBOR + 200 bps), 10/6/23		627,507
	1,229,839		American Airlines, Inc., 2017 Class B Term Loan, 4.489% (LIBOR + 200 bps), 12/14/23		1,202,936
	2,058,000		American Airlines, Inc., 2017 Class B Term Loan, 4.493% (LIBOR + 200 bps), 4/28/23		2,024,129
	2,881,181		American Airlines, Inc., 2018 Replacement Term Loan, 4.229% (LIBOR + 175 bps), 6/27/25		2,830,761
	1,562,617		DAE Aviation Holdings, Inc., Initial Term Loan, 6.24% (LIBOR + 375 bps), 7/7/22		1,562,422
	650,350(b)		Dynasty Acquisition Co., Inc. (aka StandardAero Holding Corp.), Initial Term B-1 Loan, 3/31/23		652,905
	349,650(b)		Dynasty Acquisition Co., Inc. (aka StandardAero Holding Corp.), Term B Loan, 1/23/26		351,024
	1,703,330		MACOM Technology Solutions Holdings, Inc. (fka M/A-COM Technology Solutions Holdings, Inc.), Initial Term Loan, 4.743% (LIBOR + 225 bps), 5/17/24		1,613,906
	598,987		MRO Holdings, Inc., Initial Term Loan, 7.379% (LIBOR + 475 bps), 10/25/23		601,982
	1,477,500		Peraton Corp. (fka MHVC Acquisition Corp.), First Lien Initial Term Loan, 8.06% (LIBOR + 525 bps), 4/29/24		1,444,256
	981,652		Transdigm, Inc., New Tranche F Term Loan, 4.993% (LIBOR + 250 bps), 6/9/23		971,018
	295,515		Transdigm, Inc., New Tranche G Term Loan, 4.993% (LIBOR + 250 bps), 8/22/24		291,858
	236,414		United AirLines, Inc., Refinanced Term Loan, 4.243% (LIBOR + 175 bps), 4/1/24		236,562
	847,875		WP CPP Holdings LLC, First Lien Initial Term Loan, 6.509% (LIBOR + 375 bps), 4/30/25		846,639
			Total Aerospace & Defense		$16,146,709
			Automobile - 5.6%
	1,555,162		Allison Transmission, Inc., New Term Loan, 4.24% (LIBOR + 175 bps), 9/23/22		$1,554,945
	1,497,650		American Axle & Manufacturing, Inc., Tranche B Term Loan, 4.74% (LIBOR + 225 bps), 4/6/24		1,468,064
	322,474		Bombardier Recreational Products, Inc., Term B Loan, 4.49% (LIBOR + 200 bps), 5/23/25		319,612
	492,505		Bright Bidco BV (aka Lumileds LLC), 2018 Refinancing Term B Loan, 6.203% (LIBOR + 350 bps), 6/30/24		405,496
	1,684,375		Commercial Vehicle Group, Inc., Initial Term Loan, 8.57% (LIBOR + 600 bps/PRIME + 500 bps), 4/12/23		1,667,531
	786,019		Cooper-Standard Automotive, Inc., Additional Term B-1 Loan, 4.493% (LIBOR + 200 bps), 11/2/23		765,386
	1,381,926		CWGS Group LLC (aka Camping World, Inc.), Term Loan, 5.264% (LIBOR + 275 bps), 11/8/23		1,312,830
	691,667		Goodyear Tire & Rubber Co., Second Lien Term Loan, 4.49% (LIBOR + 200 bps), 3/3/25		679,850
	450,859		KAR Auction Services, Inc., Tranche B-4 Term Loan, 5.063% (LIBOR + 225 bps), 3/11/21		450,859
	589,445		KAR Auction Services, Inc., Tranche B-5 Term Loan, 5.313% (LIBOR + 250 bps), 3/9/23		589,445
	1,898,993		Navistar, Inc., Tranche B Term Loan, 6.02% (LIBOR + 350 bps), 11/6/24		1,897,394
	896,739		Superior Industries International, Inc., Replacement Term Loan, 6.493% (LIBOR + 400 bps), 5/22/24		878,804
	1,091,193		Thor Industries, Inc., Initial USD Term Loan, 6.313% (LIBOR + 375 bps), 2/1/26		1,066,641
	1,081,458		TI Group Automotive Systems LLC, Initial US Term Loan, 4.993% (LIBOR + 250 bps), 6/30/22		1,064,785
	1,711,287		Tower Automotive Holdings USA LLC, Initial Term Loan, 5.313% (LIBOR + 275 bps), 3/7/24		1,664,226
	600,000(b)		TRICO GROUP LLC, Incremental Term Loan, 2/2/24		574,500
	466,667		Visteon Corp., New Term Loan, 4.262% (LIBOR + 175 bps), 3/25/24		460,250
			Total Automobile		$16,820,618
			Beverage, Food & Tobacco - 3.7%
	2,274,193		Chobani LLC (Chobani Idaho LLC), First Lien New Term Loan, 5.993% (LIBOR + 350 bps), 10/10/23		$2,214,968
	894,505		CTI Foods Holding Co. LLC, First Lien Term Loan, 6.1% (LIBOR + 350 bps), 6/29/20		480,797
	1,000,000		CTI Foods Holding Co. LLC, Second Lien Term Loan, 9.85% (LIBOR + 725 bps), 6/28/21		65,000
	1,431,875		Give and Go Prepared Foods Corp. (fka GG Foods Acquisition Corp.), First Lien 2017 Term Loan, 7.053% (LIBOR + 425 bps), 7/29/23		1,333,434
	1,066,882		H-Food Holdings LLC (aka Hearthside Food Solutions LLC), Initial Term Loan, 6.181% (LIBOR + 369 bps), 5/23/25		1,057,014
	1,831,122		JBS USA Lux SA (fka JBS USA LLC), Initial Term Loan, 5.256% (LIBOR + 250 bps), 10/30/22		1,827,917
	1,178,430		Post Holdings, Inc., Series A Incremental Term Loan, 4.49% (LIBOR + 200 bps), 5/24/24		1,176,220
	1,428,231		Shearer's Foods LLC, First Lien Term Loan, 6.743% (LIBOR + 425 bps), 6/30/21		1,417,520
	995,000		Sigma Holdco BV (aka Flora Foods), Facility B2, 5.797% (LIBOR + 300 bps), 7/2/25		987,952
	500,000		Sunshine Investments BV (aka Refresco Group), Facility B3, 5.934% (LIBOR + 325 bps), 3/28/25		497,500
			Total Beverage, Food & Tobacco		$11,058,322
			Broadcasting & Entertainment - 3.7%
	1,938,507		Charter Communications Operating LLC (aka CCO Safari LLC), Term B Loan, 4.5% (LIBOR + 200 bps), 4/30/25		$1,935,392
	1,372,386		Creative Artists Agency LLC, Refinancing Term Loan, 5.481% (LIBOR + 300 bps), 2/15/24		1,366,381
	728,809		Gray Television, Inc., Term B-2 Loan, 4.764% (LIBOR + 225 bps), 2/7/24		726,607
	1,929,458		MediArena Acquisition BV (fka AP NMT Acquisition BV), First Lien Dollar Term B Loan, 8.547% (LIBOR + 575 bps), 8/13/21		1,920,413
	1,975,000		Numericable US LLC, USD TLB-[12] Term Loan, 6.176% (LIBOR + 369 bps), 1/31/26		1,915,134
	87,390		CBS Radio, Inc., Additional Term B-1 Loan, 5.243% (LIBOR + 275 bps), 11/18/24		87,169
	2,047,088		Sinclair Television Group, Inc., Tranche B Term Loan, 4.75% (LIBOR + 225 bps), 1/3/24		2,044,504
	915,370		UPC Financing Partnership, Facility AR, 4.989% (LIBOR + 250 bps), 1/15/26		915,227
			Total Broadcasting & Entertainment		$10,910,827
	Principal Amount USD ($)				Value
			Building Materials - 2.6%
	944,140		Circor International, Inc., Initial Term Loan, 6.004% (LIBOR + 350 bps), 12/11/24		$926,437
	746,250		Hamilton Holdco LLC (Reece International Pty, Ltd), Term Loan, 4.81% (LIBOR + 200 bps), 7/2/25		745,299
	1,481,250		HD Supply Waterworks, Ltd., Initial Term Loan, 5.721% (LIBOR + 300 bps), 8/1/24		1,472,610
	1,643,250		Janus International Group LLC, Initial First Lien Term Loan, 5.493% (LIBOR + 300 bps), 2/12/25		1,589,844
	1,654,810		Summit Materials LLC, New Term Loan, 4.493% (LIBOR + 200 bps), 11/21/24		1,647,570
	1,477,500		WKI Holding Co., Inc. (aka World Kitchen), Initial Term Loan, 6.509% (LIBOR + 400 bps), 5/1/24		1,459,031
			Total Building Materials		$7,840,791
			Buildings & Real Estate - 5.0%
	1,223,241		American Bath Group LLC, First Lien Replacement Term Loan, 7.053% (LIBOR + 425 bps), 9/30/23		$1,220,183
	491,250		American Builders & Contractors Supply Co., Inc., Term B-2 Loan, 4.493% (LIBOR + 200 bps), 10/31/23		489,050
	491,607		Associated Asphalt Partners LLC, Tranche B Term Loan, 7.743% (LIBOR + 525 bps), 4/5/24		486,384
	746,241		Beacon Roofing Supply, Inc., Initial Term Loan, 4.767% (LIBOR + 225 bps), 1/2/25		740,924
	2,176,603		Builders FirstSource, Inc., Refinancing Term Loan, 5.803% (LIBOR + 300 bps), 2/29/24		2,097,701
	1,197,000		DTZ US Borrower LLC (aka Cushman & Wakefield), Closing Date Term Loan, 5.743% (LIBOR + 325 bps), 8/21/25		1,192,810
	1,534,500		Packers Holdings LLC, Initial Term Loan, 5.494% (LIBOR + 300 bps), 12/4/24		1,507,646
	861,875		Penn Engineering & Manufacturing Corp., Tranche B Term Loan, 5.249% (LIBOR + 275 bps), 6/27/24		858,621
	696,500		Southwire Co. LLC (fka Southwire Co.), Initial Term Loan, 4.481% (LIBOR + 200 bps), 5/19/25		690,841
	1,930,661		Uniti Group Inc., Shortfall Term Loan, 5.493% (LIBOR + 300 bps), 10/24/22		1,796,722
	1,977,273		VICI Properties 1 LLC, Term B Loan, 4.481% (LIBOR + 200 bps), 12/20/24		1,969,364
	1,903,287		WireCo WorldGroup, Inc. (WireCo WorldGroup Finance LP), First Lien Initial Term Loan, 7.493% (LIBOR + 500 bps), 9/29/23		1,907,251
			Total Buildings & Real Estate		$14,957,497
			Chemicals, Plastics & Rubber - 8.5%
	801,723		Allnex (Luxembourg) & Cy SCA (fka AI Chem & Cy SCA), Tranche B-2 Term Loan, 5.879% (LIBOR + 325 bps), 9/13/23		$794,708
	604,035		Allnex (Luxembourg) & Cy SCA (fka AI Chem & Cy SCA), Tranche B-3 Term Loan, 5.879% (LIBOR + 325 bps), 9/13/23		598,750
	444,375		Archroma Finance S.a.r.l., Facility B2, 6.798% (LIBOR + 400 bps), 8/12/24		437,709
	1,228,472		Axalta Coating Systems Dutch Holding B BV (Axalta Coating Systems US Holdings, Inc.), Term B-3 Dollar Loan, 4.553% (LIBOR + 175 bps), 6/1/24		1,217,394
	994,987		Chemours Co., Tranche B-2 US Dollar Term Loan, 4.25% (LIBOR + 175 bps), 4/3/25		986,269
	412,231		Element Solutions, Inc. (Macdermid, Inc.), Initial Term Loan, 4.743% (LIBOR + 225 bps), 1/30/26		411,973
	492,443		Entegris, Inc. (fka Versum Materials, Inc.), Term Loan, 4.803% (LIBOR + 200 bps), 9/29/23		490,904
	1,440,138		Ferro Corporation, Tranche B-1 Term Loan, 5.053% (LIBOR + 225 bps), 2/14/24		1,425,736
	318,134		H.B. Fuller Co., Commitment, 4.48% (LIBOR + 200 bps), 10/20/24		315,519
	1,000,538		Infiltrator Water Technologies LLC, First Lien Term B-2 Loan, 5.803% (LIBOR + 300 bps), 5/27/22		999,287
	1,278,675		LTI Holdings, Inc., First Lien Initial Term Loan, 5.993% (LIBOR + 350 bps), 9/6/25		1,253,901
	500,000		LTI Holdings, Inc., Second Lien Initial Term Loan, 9.243% (LIBOR + 675 bps), 9/6/26		482,500
	1,237,500		Natgasoline LLC, Initial Term Loan, 6.25% (LIBOR + 350 bps), 11/14/25		1,240,594
	1,377,143		Omnova Solutions, Inc., Term B-2 Loan, 5.743% (LIBOR + 325 bps), 8/25/23		1,373,700
	556,862		Orion Engineered Carbons GmbH, Initial Dollar Term Loan, 4.803% (LIBOR + 200 bps), 7/25/24		552,686
	1,228,883		PQ Corp., Third Amendment Tranche B-1 Term Loan, 5.244% (LIBOR + 250 bps), 2/8/25		1,223,507
	2,004,905		Reynolds Group Holdings, Inc., Incremental US Term Loan, 5.243% (LIBOR + 275 bps), 2/5/23		1,998,998
	595,870		Ring Container Technologies Group LLC, First Lien Initial Term Loan, 5.243% (LIBOR + 275 bps), 10/31/24		586,932
	575,000		Starfruit Finco BV (Starfruit US Holdco LLC) (aka AkzoNobel), Initial Dollar Term Loan, 5.764% (LIBOR + 325 bps), 10/1/25		573,562
	1,304,689		Tank Holding Corp. (Roto Acquisition Corp), Replacement Term Loan, 5.763% (LIBOR + 325 bps), 3/16/22		1,302,242
	1,361,963		Tata Chemicals North America, Term Loan, 5.563% (LIBOR + 275 bps), 8/7/20		1,358,558
	1,039,500		Trident TPI Holdings, Inc., Tranche B-1 Term Loan, 5.743% (LIBOR + 325 bps), 10/17/24		1,016,761
	404,058		Tronox Blocked Borrower LLC, First Lien Blocked Dollar Term Loan, 5.493% (LIBOR + 300 bps), 9/23/24		403,452
	932,442		Tronox Finance LLC, First Lien Initial Dollar Term Loan, 5.493% (LIBOR + 300 bps), 9/23/24		931,043
	1,333,672		Twist Beauty International Holdings SA, Facility B2, 5.886% (LIBOR + 300 bps), 4/22/24		1,317,835
	1,376,551		Univar USA, Inc., Term B-3 Loan, 4.743% (LIBOR + 225 bps), 7/1/24		1,376,379
	744,370		Vantage Specialty Chemicals, Inc., First Lien Closing Date Term Loan, 6.056% (LIBOR + 350 bps), 10/28/24		736,927
			Total Chemicals, Plastics & Rubber		$25,407,826
			Computers & Electronics - 3.5%
	790,000		Applied Systems, Inc., First Lien Closing Date Term Loan, 5.493% (LIBOR + 300 bps), 9/19/24		$785,063
	750,000		Applied Systems, Inc., Second Lien Initial Term Loan, 9.493% (LIBOR + 700 bps), 9/19/25		759,375
	1,000,000		Brooks Automation, Inc., 2018 Incremental Term B Loan, 5.69% (LIBOR + 300 bps), 10/4/24		998,750
	1,240,625		Chloe OX Parent LLC, Initial Term Loan, 7.303% (LIBOR + 450 bps), 12/23/24		1,240,625
	1,394,002		Dynatrace LLC, First Lien Term Loan, 5.743% (LIBOR + 325 bps), 8/22/25		1,391,678
	782,028		Energy Acquisition LP (aka Electrical Components International), First Lien Initial Term Loan, 7.053% (LIBOR + 425 bps), 6/26/25		762,478
	Principal Amount USD ($)				Value
			Computers & Electronics - (continued)
	749,254		Infor (US), Inc. (fka Lawson Software, Inc.), Tranche B-6 Term Loan, 5.243% (LIBOR + 275 bps), 2/1/22		$750,659
	462,176		Kronos, Inc., First Lien Incremental Term Loan, 5.736% (LIBOR + 300 bps), 11/1/23		461,237
	893,333(b)		Microchip Technology, Inc., Initial Term Loan (LIBOR + 200 bps), 5/29/25		892,775
	393,237		ON Semiconductor Corp., 2018 New Replacement Term B-3 Loan, 4.243% (LIBOR + 175 bps), 3/31/23		392,640
	2,235,938		Ultra Clean Holdings, Inc., Term Loan B, 6.993% (LIBOR + 450 bps), 8/27/25		2,135,320
			Total Computers & Electronics		$10,570,600
			Construction & Building - 0.8%
	1,240,625		McDermott International, Inc., Term Loan, 7.493% (LIBOR + 500 bps), 5/12/25		$1,197,203
	1,265,326		Quikrete Holdings, Inc., First Lien Initial Term Loan, 5.243% (LIBOR + 275 bps), 11/15/23		1,250,563
			Total Construction & Building		$2,447,766
			Containers, Packaging & Glass - 0.8%
	943,270		Berry Global, Inc. (fka Berry Plastics Corp.), Term Q Loan, 4.61% (LIBOR + 200 bps), 10/1/22		$942,222
	1,311,679		Plastipak Holdings, Inc., Tranche B Term Loan, 5.0% (LIBOR + 250 bps), 10/14/24		1,297,332
			Total Containers, Packaging & Glass		$2,239,554
			Diversified & Conglomerate Manufacturing - 3.0%
	1,485,061		Commercial Barge Line Co., Initial Term Loan, 11.243% (LIBOR + 875 bps), 11/12/20		$1,026,548
	324,373		Delos Finance S.a r.l., New Term Loan, 4.553% (LIBOR + 175 bps), 10/6/23		324,711
	879,823		ExamWorks Group, Inc. (fka Gold Merger Co., Inc.), Term B-1 Loan, 5.743% (LIBOR + 325 bps), 7/27/23		880,373
	938,629		Installed Building Products, Inc., Tranche B-2 Term Loan, 4.993% (LIBOR + 250 bps), 4/15/25		921,030
	2,074,241		Pelican Products, Inc., First Lien Term Loan, 6.012% (LIBOR + 350 bps), 5/1/25		2,052,202
	298,148		Ranpak Corp., Second Lien Initial Term Loan, 9.731% (LIBOR + 725 bps), 10/3/22		297,403
	1,544,962		Ranpak Corp., Tranche B-1 USD Term Loan, 5.743% (LIBOR + 325 bps), 10/1/21		1,539,168
	1,714,134		STG-Fairway Acquisitions, Inc. (aka First Advantage), First Lien Term Loan, 7.743% (LIBOR + 525 bps), 6/30/22		1,709,849
			Total Diversified & Conglomerate Manufacturing		$8,751,284
			Diversified & Conglomerate Service - 11.3%
	1,655,978		Alion Science and Technology Corp., First Lien Term Loan, 6.993% (LIBOR + 450 bps), 8/19/21		$1,655,461
	750,000		Allied Universal Holdco LLC (fka USAGM Holdco LLC), First Lien Incremental Term Loan, 6.743% (LIBOR + 425 bps), 7/28/22		741,563
	916,982		Allied Universal Holdco LLC (fka USAGM Holdco LLC), First Lien Initial Term Loan, 6.243% (LIBOR + 375 bps), 7/28/22		903,227
	290,287		ASGN, Inc. (fka On Assignment, Inc.), Initial Term B-1 Loan, 4.493% (LIBOR + 200 bps), 6/3/22		289,743
	191,484		ASGN, Inc. (fka On Assignment, Inc.), Initial Term B-2 Loan, 4.493% (LIBOR + 200 bps), 4/2/25		190,607
	347,160		AVSC Holding Corp. (aka PSAV, Inc.), Firxt Lien Initial Term Loan, 5.863% (LIBOR + 325 bps), 3/3/25		343,254
	764,951		Booz Allen Hamilton, Inc., New Refinancing Tranche B Term Loan, 4.493% (LIBOR + 200 bps), 6/30/23		766,386
	3,336,979		Bright Horizons Family Solutions LLC (fka Bright Horizons Family Solutions, Inc.), Term B Loan, 4.243% (LIBOR + 175 bps), 11/7/23		3,318,208
	1,911,982		CB Poly Investments LLC, First Lien Closing Date Term Loan, 6.243% (LIBOR + 375 bps), 8/16/23		1,919,152
	1,526,677		Change Healthcare Holdings, Inc. (fka Emdeon, Inc.), Closing Date Term Loan, 5.243% (LIBOR + 275 bps), 3/1/24		1,517,374
	1,970,000		Constellis Holdings LLC, First Lien Term B Loan, 7.744% (LIBOR + 500 bps), 4/21/24		1,904,334
	1,204,848		DBRS, Ltd., Initial Term Loan, 7.879% (LIBOR + 525 bps), 3/4/22		1,198,196
	1,017,737		DG Investment Intermediate Holdings 2, Inc. (aka Convergint Technologies Holdings LLC), First Lien Initial Term Loan, 5.493% (LIBOR + 300 bps), 2/3/25		1,002,471
	1,204,345		DTI Holdco, Inc., Replacement B-1 Term Loan, 7.494% (LIBOR + 475 bps), 9/29/23		1,136,600
	828,262		Filtration Group Corp., Initial Dollar Term Loan, 5.493% (LIBOR + 300 bps), 3/29/25		827,227
	646,339		Gates Global LLC, Initial B-2 Dollar Term Loan, 5.243% (LIBOR + 275 bps), 4/1/24		645,194
	1,098,115		GHX Ultimate Parent Corp., First Lien Initial Term Loan, 6.063% (LIBOR + 325 bps), 6/28/24		1,082,330
	240,601		IAP Worldwide Services, Inc., Second Lien Term Loan, 9.303% (LIBOR + 650 bps), 7/18/19		239,097
	1,090,664		Jaguar Holding Co. I, LLC (fka Jaguar Holding Co. I) (aka Pharmaceutical Product Development LLC), 2018 Term Loan, 4.993% (LIBOR + 250 bps), 8/18/22		1,087,812
	997,487		Mitchell International, Inc., First Lien Initial Term Loan, 5.743% (LIBOR + 325 bps), 11/29/24		977,226
	495,000(b)		National Mentor Holdings, Inc. (aka Civitas Solutions, Inc.), Term Loan B, 2/5/26		495,154
	31,000(b)		National Mentor Holdings, Inc. (aka Civitas Solutions, Inc.), Term Loan C, 2/5/26		31,010
	1,606,875		National Mentor Holdings, Inc. (aka Civitas Solutions, Inc.), Tranche B Term Loan, 5.803% (LIBOR + 300 bps), 1/31/21		1,606,875
	2,180,249		NVA Holdings, Inc., First Lien Term B-3 Loan, 5.243% (LIBOR + 275 bps), 2/2/25		2,133,919
	1,526,424		Press Ganey Holdings, Inc., First Lien Incremental B-2018 Term Loan, 5.243% (LIBOR + 275 bps), 10/23/23		1,518,792
	298,500		Sound Inpatient Physicians, Inc., First Lien Initial Term Loan, 5.243% (LIBOR + 275 bps), 6/27/25		297,940
	1,330,367		Tempo Acquisition LLC, Initial Term Loan, 5.493% (LIBOR + 300 bps), 5/1/24		1,331,475
	1,223,457(b)		Trico Group LLC, First Lien Initial Term Loan (LIBOR + 650 bps), 2/2/24		1,174,519
	1,296,000		West Corp., Incremental Term B-1 Loan, 6.129% (LIBOR + 350 bps), 10/10/24		1,224,072
	1,397,870		West Corp., Initial Term B Loan, 6.629% (LIBOR + 400 bps), 10/10/24		1,328,268
	731,250		WEX, Inc., Term B-2 Loan, 4.743% (LIBOR + 225 bps), 6/30/23		729,041
			Total Diversified & Conglomerate Service		$33,616,527
	Principal Amount USD ($)				Value
			Diversified Natural Resources & Precious Metals - 0.3%
	934,250		84 Lumber Co., Term B-1 Loan, 7.74% (LIBOR + 525 bps), 10/25/23		$930,746
			Total Diversified Natural Resources & Precious Metals		$930,746
			Educational Services - 0.3%
	945,314		Laureate Education, Inc., Series 2024 Term Loan, 5.993% (LIBOR + 350 bps), 4/26/24		$948,155
			Total Educational Services		$948,155
			Electric & Electrical – 0.9%
	1,121,903		Dell International LLC (EMC Corp.), Refinancing Term B Loan, 4.5% (LIBOR + 200 bps), 9/7/23		$1,119,940
	245,592		Micron Technology, Inc., Term Loan, 4.25% (LIBOR + 175 bps), 4/26/22		245,414
	212,096		MKS Instruments, Inc., Tranche B-4 Term Loan, 4.493% (LIBOR + 200 bps), 5/1/23		212,228
	500,000		MKS Instruments, Inc., Tranche B-5 Term Loan, 4.759% (LIBOR + 225 bps), 2/2/26		500,156
	587,266		Rackspace Hosting, Inc., First Lien Term B Loan, 5.737% (LIBOR + 300 bps), 11/3/23		561,573
			Total Electric & Electrical		$2,639,311
			Electronics - 4.7%
	695,332		Access CIG LLC, First Lien Term B Loan, 6.243% (LIBOR + 375 bps), 2/27/25		$690,117
	662,843		Avast Software BV, 2018 Refinancing Dollar Term Loan, 5.303% (LIBOR + 250 bps), 9/29/23		661,969
	1,128,144		First Data Corp., 2022D New Dollar Term Loan, 4.49% (LIBOR + 200 bps), 7/8/22		1,128,185
	1,131,090		First Data Corp., 2024A New Dollar Term Loan, 4.49% (LIBOR + 200 bps), 4/26/24		1,130,982
	1,179,063		Mirion Technologies (Finance) LLC (Mirion Technologies, Inc.), First Lien Initial Term Loan, 7.553% (LIBOR + 475 bps), 3/31/22		1,162,850
	1,292,365		nThrive, Inc. (fka Precyse Acquisition Corp.), Additional Term B-2 Loan, 6.993% (LIBOR + 450 bps), 10/20/22		1,269,749
	1,128,739		Rovi Solutions Corp./ Rovi Guides, Inc., Term B Loan, 5.0% (LIBOR + 250 bps), 7/2/21		1,117,922
	2,812,560		Scientific Games International, Inc., Initial Term B-5 Loan, 5.312% (LIBOR + 275 bps), 8/14/24		2,791,173
	582,077		SS&C Technologies Holdings, Inc., 2017 Refinancing New Term B-1 Loan, 4.743% (LIBOR + 225 bps), 7/8/22		582,077
	616,068		SS&C Technologies Holdings, Inc., Term B-3 Loan, 4.743% (LIBOR + 225 bps), 4/16/25		614,472
	235,988		SS&C Technologies Holdings, Inc., Term B-4 Loan, 4.743% (LIBOR + 225 bps), 4/16/25		235,377
	1,311,614		Verint Systems, Inc., Refinancing Term Loan, 4.509% (LIBOR + 200 bps), 6/28/24		1,307,499
	1,394,186		Western Digital Corp., US Term B-4 Loan, 4.231% (LIBOR + 175 bps), 4/29/23		1,373,843
			Total Electronics		$14,066,215
			Entertainment & Leisure - 0.8%
	833,000		Cedar Fair LP, US Term B Loan, 4.243% (LIBOR + 175 bps), 4/13/24		$833,000
	468,474		Live Nation Entertainment, Inc., Term B-3 Loan, 4.25% (LIBOR + 175 bps), 10/31/23		467,010
	1,126,168		Sabre GLBL, Inc. (fka Sabre, Inc.), 2018 Other Term B Loan, 4.493% (LIBOR + 200 bps), 2/22/24		1,125,323
			Total Entertainment & Leisure		$2,425,333
			Environmental Services - 1.3%
	838,597		Advanced Disposal Services, Inc. (fka ADS Waste Holdings, Inc.), Additional Term Loan, 4.667% (LIBOR + 225 bps), 11/10/23		$838,925
	555,724		EWT Holdings III Corp. (fka WTG Holdings III Corp.), Refinancing 2017-2 First Lien Term Loan, 5.493% (LIBOR + 300 bps), 12/20/24		556,419
	1,045,927		GFL Environmental, Inc., Effective Date Incremental Term Loan, 5.493% (LIBOR + 300 bps), 5/30/25		1,031,981
	1,515,304		WCA Waste Systems, Inc., Initial Term Loan, 4.993% (LIBOR + 250 bps), 8/11/23		1,492,574
			Total Environmental Services		$3,919,899
			Farming & Agriculture - 0.4%
	1,190,180		Dole Food Co., Inc., Tranche B Term Loan, 5.249% (LIBOR + 275 bps/PRIME + 175 bps), 4/6/24		$1,178,279
			Total Farming & Agriculture		$1,178,279
			Financial Services - 2.2%
	1,461,067		Baring Private Equity Asia VI Holding (2) Ltd., First Lien Initial Dollar Term Loan, 5.493% (LIBOR + 300 bps), 10/26/22		$1,430,019
	895,500		Blackhawk Network Holdings, Inc., First Lien Term Loan, 5.493% (LIBOR + 300 bps), 6/15/25		889,008
	994,950		Everi Payments, Inc., Term B loan, 5.493% (LIBOR + 300 bps), 5/9/24		992,089
	1,315,000		Financial & Risk US Holdings, Inc. (aka Refinitiv), Initial Dollar Term Loan, 6.243% (LIBOR + 375 bps), 10/1/25		1,296,782
	969,030		Freedom Mortgage Corp., Initial Term Loan, 7.243% (LIBOR + 475 bps), 2/23/22		976,297
	1,020,357		Trans Union LLC, 2017 Replacement Term B-3 Loan, 4.493% (LIBOR + 200 bps), 4/10/23		1,016,530
			Total Financial Services		$6,600,725
			Forest Products - 0.3%
	833,368		ProAmpac PG Borrower LLC, First Lien Initial Term Loan, 6.139% (LIBOR + 350 bps), 11/20/23		$820,868
			Total Forest Products		$820,868
			Grocery - 0.8%
	1,365,113		Albertson's LLC, 2017-1 Term B-6 Loan, 5.479% (LIBOR + 300 bps), 6/22/23		$1,361,700
	805,000		Diplomat Pharmacy, Inc., Initial Term B Loan, 7.0% (LIBOR + 450 bps), 12/20/24		740,600
			Total Grocery		$2,102,300
			Healthcare - 1.2%
	1,728,125		Albany Molecular Research, Inc., First Lien Initial Term Loan, 5.743% (LIBOR + 325 bps), 8/30/24		$1,708,684
	1,000,000		Albany Molecular Research, Inc., Second Lien Initial Term Loan, 9.493% (LIBOR + 700 bps), 8/30/25		982,500
	825,000(b)		Brightspring Health Services, Term Loan, 2/12/26		820,359
			Total Healthcare		$3,511,543
			Healthcare Services - 0.1%
	491,250		Team Health Holdings, Inc., Initial Term Loan, 5.243% (LIBOR + 275 bps), 2/6/24		$447,037
			Total Healthcare Services		$447,037
	Principal Amount USD ($)				Value
			Healthcare & Pharmaceuticals – 8.4%
	1,460,989		Acadia Healthcare Co., Inc., Tranche B-4 Term Loan, 4.993% (LIBOR + 250 bps), 2/16/23		$1,454,901
	635,000		Agiliti Health, Inc., Initial Term Loan, 5.563% (LIBOR + 300 bps), 1/4/26		635,778
	1,060,681		Alkermes, Inc., 2023 Term Loan, 4.77% (LIBOR + 225 bps), 3/27/23		1,051,400
	493,750		Alphabet Holding Co., Inc. (aka Nature's Bounty), First Lien Initial Term Loan, 5.993% (LIBOR + 350 bps), 9/26/24		473,383
	1,500,000		Alphabet Holding Co., Inc. (aka Nature's Bounty), Second Lien Initial Term Loan, 10.243% (LIBOR + 775 bps), 9/26/25		1,268,749
	910,000(b)		Auris Luxembourg III S.a r.l. (aka Siemens Audiology), Facility B2, 7/24/25		911,895
	1,836,569(c)		CCS Medical, Inc. (Chronic Care), Second lien Term Loan, 0.0% (14.00% PIK 0.0% cash) (PRIME + 900 bps), 5/31/19		18,366
	1,528,218		CHS/Community Health Systems, Inc., Incremental 2021 Term H Loan, 5.879% (LIBOR + 325 bps), 1/27/21		1,525,831
	1,225,000		Cidron Healthcare, Ltd. (aka ConvaTec, Inc.), Term B Loan, 5.053% (LIBOR + 225 bps), 10/31/23		1,217,344
	1,177,243		Concentra, Inc., First Lien Tranche B-1 Term Loan, 5.27% (LIBOR + 275 bps), 6/1/22		1,174,300
	848,980		DaVita, Inc. (fka DaVita HealthCare Partners, Inc.), Tranche B Term Loan, 5.243% (LIBOR + 275 bps), 6/24/21		849,156
	1,585,850		Endo Luxembourg Finance Company I S.a.r.l., Initial Term Loan, 6.75% (LIBOR + 425 bps), 4/29/24		1,589,815
	886,364		Explorer Holdings, Inc., Initial Term Loan, 6.553% (LIBOR + 375 bps), 5/2/23		882,486
	710,759		Gentiva Health Services, Inc., First Lien Closing Date Initial Term Loan, 6.25% (LIBOR + 375 bps), 7/2/25		713,406
	811,694		Greatbatch, Ltd., New Term B Loan, 5.51% (LIBOR + 300 bps), 10/27/22		812,116
	1,453,608		HC Group Holdings III, Inc., First Lien Refinancing Term Loan, 6.243% (LIBOR + 375 bps), 4/7/22		1,446,340
	349,125		Herbalife Nutrition, Ltd., Term Loan B, 5.743% (LIBOR + 325 bps), 8/18/25		349,624
	866,145		Horizon Pharma, Inc., Fourth Amendment Refinanced Term Loan, 5.5% (LIBOR + 300 bps), 3/29/24		866,958
	497,500		Iqvia, Inc. (Quintiles IMS), Term B-3 Dollar Loan, 4.243% (LIBOR + 175 bps), 6/11/25		496,101
	1,497,500		Kindred Healthcare LLC, Closing Date Term Loan, 7.5% (LIBOR + 500 bps), 7/2/25		1,456,319
	825,000		NMN Holdings III Corp., First Lien Closing Date Term Loan, 6.244% (LIBOR + 375 bps), 11/13/25		817,781
	992,500		PharMerica Corp., First Lien Initial Term Loan, 5.981% (LIBOR + 350 bps), 12/6/24		992,500
	434,686		Prestige Brands, Inc., Term B-4 Loan, 4.493% (LIBOR + 200 bps), 1/26/24		432,037
	1,955,225		Prospect Medical Holdings, Inc., Term B-1 Loan, 8.063% (LIBOR + 550 bps), 2/22/24		1,779,255
	1,785,571		Sterigenics-Nordion Holdings LLC, Incremental Term Loan, 5.493% (LIBOR + 300 bps), 5/15/22		1,752,091
			Total Healthcare & Pharmaceuticals		$24,967,932
			Healthcare, Education & Childcare - 5.5%
	1,500,000		Alliance HealthCare Services, Inc., Second Lien Initial Term Loan, 12.493% (LIBOR + 1,000 bps), 4/24/24		$1,492,500
	1,420,525		ATI Holdings Acquisition, Inc., First Lien Initial Term Loan, 5.981% (LIBOR + 350 bps), 5/10/23		1,397,442
	240,625		Bausch Health Co., Inc. (fka Valeant Pharmaceuticals International, Inc.), First Incremental Term Loan, 5.262% (LIBOR + 275 bps), 11/27/25		239,963
	2,475,250		Bausch Health Co., Inc. (fka Valeant Pharmaceuticals International, Inc.), Initial Term Loan, 5.512% (LIBOR + 300 bps), 6/2/25		2,479,581
	269,398		Catalent Pharma Solutions, Inc. (fka Cardinal Health 409, Inc.), Dollar Term Loan, 4.743% (LIBOR + 225 bps), 5/20/24		268,859
	664,875		Kinetic Concepts, Inc., Dollar Term Loan, 6.053% (LIBOR + 325 bps), 2/2/24		664,598
	1,993,097		KUEHG Corp. (fka KC MergerSub, Inc.) (aka KinderCare), Term B-3 Loan, 6.553% (LIBOR + 375 bps), 2/21/25		1,981,636
	442,125		Lantheus Holdings, Inc., Replacement Term Loan, 6.243% (LIBOR + 375 bps), 6/30/22		441,849
	843,065		Life Time Fitness, Inc., 2017 Refinancing Term Loan, 5.379% (LIBOR + 275 bps), 6/10/22		841,089
	1,564,669		Quorum Health Corp., Term Loan, 9.243% (LIBOR + 675 bps), 4/29/22		1,573,470
	1,610,697		Regionalcare Hospital Partners Holdings, Inc., First Lien Term B Loan, 6.981% (LIBOR + 450 bps), 11/16/25		1,608,181
	1,264,757		Select Medical Corp., Tranche B Term Loan, 4.99% (LIBOR + 250 bps/PRIME + 150 bps), 3/6/25		1,256,821
	1,742,978		US Renal Care, Inc., First Lien Initial Term Loan, 7.053% (LIBOR + 425 bps), 12/30/22		1,742,978
	445,221		Vizient, Inc., Term B-4 Loan, 5.243% (LIBOR + 275 bps), 2/13/23		445,666
			Total Healthcare, Education & Childcare		$16,434,633
			Home & Office Furnishings - 1.1%
	1,132,963		Armstrong World Industries, Inc., Term Loan B, 5.371% (LIBOR + 275 bps), 3/31/23		$1,128,006
	1,812,377		Serta Simmons Bedding LLC, First Lien Initial Term Loan, 6.008% (LIBOR + 350 bps), 11/8/23		1,518,999
	901,867		Serta Simmons Bedding LLC, Second Lien Initial Term Loan, 10.494% (LIBOR + 800 bps), 11/8/24		613,269
			Total Home & Office Furnishings		$3,260,274
			Hotel, Gaming & Leisure - 2.9%
	2,090,977		Boyd Gaming Corp., Refinancing Term B Loan, 4.664% (LIBOR + 225 bps), 9/15/23		$2,084,181
	494,871		Eldorado Resorts, Inc., Term Loan, 4.868% (LIBOR + 225 bps), 4/17/24		493,002
	393,436		ESH Hospitality, Inc., Third Repriced Term Loan, 4.493% (LIBOR + 200 bps), 8/30/23		391,141
	1,940,276		Golden Nugget, Inc. (aka Landry's, Inc.), Initial Term B Loan, 5.241% (LIBOR + 275 bps), 10/4/23		1,934,620
	426,292		Hilton Worldwide Finance LLC, Series B-2 Term Loan, 4.24% (LIBOR + 175 bps), 10/25/23		426,825
	600,000		Marriott Ownership Resorts, Inc., Initial Term Loan, 4.743% (LIBOR + 225 bps), 8/29/25		600,500
	1,327,463		MGM Growth Properties Operating Partnership LP, Term B Loan, 4.493% (LIBOR + 200 bps), 3/21/25		1,323,038
	450,000		Penn National Gaming, Inc., Term B-1 Facility Loan, 4.841% (LIBOR + 225 bps), 10/15/25		448,634
	Principal Amount USD ($)				Value
			Hotel, Gaming & Leisure – (continue)
	507,690		Stars Group Holdings BV, USD Term Loan, 6.303% (LIBOR + 350 bps), 7/10/25		$508,914
	477,036		Station Casinos LLC, Term B Facility Loan, 5.0% (LIBOR + 250 bps), 6/8/23		473,954
			Total Hotel, Gaming & Leisure		$8,684,809
			Insurance - 4.1%
	896,309		Alliant Holdings Intermediate LLC, Initial Term Loan, 5.231% (LIBOR + 275 bps), 5/9/25		$887,626
	611,878		AmWINS Group, Inc., First Lien Term Loan, 5.248% (LIBOR + 275 bps), 1/25/24		609,966
	2,064,889		Asurion LLC (fka Asurion Corp.), New B-7 Term Loan, 5.493% (LIBOR + 300 bps), 11/3/24		2,067,470
	286,831		Asurion LLC (fka Asurion Corp.), Replacement B-6 Term Loan, 5.493% (LIBOR + 300 bps), 11/3/23		287,279
	675,000		Asurion LLC (fka Asurion Corp.), Second Lien Replacement B-2 Term Loan, 8.993% (LIBOR + 650 bps), 8/4/25		687,936
	2,299,881		Confie Seguros Holding II Co., Term B Loan, 7.379% (LIBOR + 475 bps), 4/19/22		2,297,006
	1,847,164		Integro, Ltd., First Lien Initial Term Loan, 8.434% (LIBOR + 575 bps), 10/31/22		1,837,928
	1,065,775^		Medical Card System, Inc., Term Loan, 5.5% (LIBOR + 450 bps), 9/2/19		692,754
	1,436,335		MPH Acquisition Holdings LLC, Initial Term Loan, 5.553% (LIBOR + 275 bps), 6/7/23		1,424,516
	1,649,125		USI, Inc. (fka Compass Investors, Inc.), 2017 New Term Loan, 5.803% (LIBOR + 300 bps), 5/16/24		1,636,756
			Total Insurance		$12,429,237
			Leasing - 0.7%
	678,307		Fly Funding II S.a r.l., Term Loan, 4.7% (LIBOR + 200 bps), 2/9/23		$671,383
	1,488,750		IBC Capital I, Ltd. (aka Goodpack, Ltd.), First Lien Tranche B-1 Term Loan, 6.551% (LIBOR + 375 bps), 9/11/23		1,464,558
	73,529		Kasima LLC (Digital Cinema Implementation Partners LLC), Term Loan, 5.31% (LIBOR + 250 bps), 5/17/21		73,621
			Total Leasing		$2,209,562
			Leisure & Entertainment - 2.6%
	995,000		24 Hour Fitness Worldwide, Inc., Term Loan, 5.993% (LIBOR + 350 bps), 5/30/25		$995,467
	1,120,276		AMC Entertainment Holdings, Inc. (fka AMC Entertainment, Inc.), Initial Term Loan, 4.739% (LIBOR + 225 bps), 12/15/22		1,116,361
	295,500		CityCenter Holdings LLC, Term B Loan, 4.743% (LIBOR + 225 bps), 4/18/24		293,053
	1,937,122		Fitness International LLC, Term B Loan, 5.743% (LIBOR + 325 bps), 4/18/25		1,930,462
	1,815,420		MCC Iowa LLC, Tranche M Term Loan, 4.42% (LIBOR + 200 bps), 1/15/25		1,810,881
	1,286,450		Six Flags Theme Parks, Inc., Tranche B Term Loan, 4.5% (LIBOR + 175 bps), 6/30/22		1,282,697
			Total Leisure & Entertainment		$7,428,921
			Machinery - 3.4%
	493,750		AI Aqua Merger Sub, Inc., 2017 First Lien Incremental Term Loan B, 5.743% (LIBOR + 325 bps), 12/13/23		$477,498
	367,500		AI Aqua Merger Sub, Inc., First Lien Tranche B-1 Term Loan, 5.743% (LIBOR + 325 bps), 12/13/23		354,944
	433,852		Blount International, Inc., New Refinancing Term Loan, 6.243% (LIBOR + 375 bps), 4/12/23		434,937
	585,044		Clark Equipment Co. (aka Doosan Bobcat, Inc.), Repriced Term Loan, 4.803% (LIBOR + 200 bps), 5/18/24		580,200
	713,250		Columbus McKinnon Corp., Repriced Term Loan, 5.303% (LIBOR + 250 bps), 1/31/24		713,250
	914,286		CTC AcquiCo GmbH, Facility B2, 5.629% (LIBOR + 300 bps), 3/7/25		900,571
	857,252		Gardner Denver, Inc., Tranche B-1 Dollar Term Loan, 5.243% (LIBOR + 275 bps), 7/30/24		858,145
	462,500		Hyster-Yale Group, Inc., Term Loan, 5.743% (LIBOR + 325 bps), 5/30/23		461,344
	815,089		Milacron LLC, Term B Loan, 4.993% (LIBOR + 250 bps), 9/28/23		806,433
	582,156		NN, Inc., Tranche B Term Loan, 6.243% (LIBOR + 375 bps), 10/19/22		571,241
	1,081,477		Shape Technologies Group, Inc., Initial Term Loan, 5.776% (LIBOR + 300 bps), 4/21/25		1,073,366
	822,034		Terex Corp., Incremental US Term Loan, 4.493% (LIBOR + 200 bps), 1/31/24		815,869
	987,607		TMK Hawk Parent Corp., First Lien Initial Term Loan, 6.0% (LIBOR + 350 bps), 8/28/24		864,978
	1,035,865		Welbilt, Inc. (fka Manitowoc Foodservice, Inc.), Term B Loan, 4.993% (LIBOR + 250 bps), 10/23/25		1,033,276
			Total Machinery		$9,946,052
			Media - 2.6%
	652,365		Altice France SA, USD TLB-[13] Incremental Term Loan, 6.489% (LIBOR + 400 bps), 8/14/26		$636,871
	344,750		Cable One, Inc., Incremental Term B-1 Loan, 4.24% (LIBOR + 175 bps), 5/1/24		344,463
	500,000		CSC Holdings LLC (fka CSC Holdings, Inc. (Cablevision)), February 2019 Incremental Term Loan, 5.591% (LIBOR + 300 bps), 4/15/27		499,063
	491,250		CSC Holdings LLC (fka CSC Holdings, Inc. (Cablevision)), March 2017 Refinancing Term Loan, 4.739% (LIBOR + 225 bps), 7/17/25		487,259
	314,548		CSC Holdings LLC (fka CSC Holdings, Inc. (Cablevision)), October 2018 Incremental Term Loan, 4.739% (LIBOR + 225 bps), 1/15/26		312,975
	342,128		Outfront Media Capital LLC (Outfront Media Capital Corp.), Term Loan, 4.514% (LIBOR + 200 bps), 3/18/24		341,443
	2,175,023		Quincy Media, Inc. (fka Quincy Newspapers, Inc.), Term Loan B, 5.507% (LIBOR + 300 bps/PRIME + 200 bps), 11/2/22		2,164,148
	1,198,436		Townsquare Media, Inc., Additional Term B Loan, 5.493% (LIBOR + 300 bps), 4/1/22		1,189,447
	2,019,950		Univision Communications, Inc., 2017 Replacement Repriced First Lien Term Loan, 5.243% (LIBOR + 275 bps), 3/15/24		1,885,498
			Total Media		$7,861,167
			Metals & Mining - 4.7%
	1,592,000		Aleris International, Inc., Initial Term Loan, 7.243% (LIBOR + 475 bps), 2/27/23		$1,600,955
	1,900,979		Atkore International, Inc., First Lien Initial Incremental Term Loan, 5.56% (LIBOR + 275 bps), 12/22/23		1,889,887
	Principal Amount USD ($)				Value
			Metals & Mining – (continue)
	621,875		Ball Metalpack Finco LLC, First Lien Initial Term Loan, 6.993% (LIBOR + 450 bps), 7/31/25		$616,465
	1,572,500		Big River Steel LLC, Closing Date Term Loan, 7.803% (LIBOR + 500 bps), 8/23/23		1,563,655
	944,621		BWay Holding Co., Initial Term Loan, 6.033% (LIBOR + 325 bps), 4/3/24		928,562
	2,208,080		Global Brass and Copper, Inc. Initial Term Loan, 5.0% (LIBOR + 250 bps), 5/29/25		2,205,320
	950,000		Oxbow Carbon LLC, First Lien Tranche B Term Loan, 5.993% (LIBOR + 350 bps), 1/4/23		951,188
	919,179		Phoenix Services International LLC, Term B Loan, 6.267% (LIBOR + 375 bps), 3/1/25		911,136
	796,463		TMS International Corp. (aka Tube City IMS Corp.), Term B-2 Loan, 5.398% (LIBOR + 275 bps), 8/14/24		784,516
	2,391,558		Zekelman Industries, Inc. (fka JMC Steel Group, Inc.), Term Loan, 4.73% (LIBOR + 225 bps), 6/14/21		2,376,909
			Total Metals & Mining		$13,828,593
			Oil & Gas - 5.2%
	2,550,000		BCP Raptor II LLC, Initial Term Loan, 7.37% (LIBOR + 475 bps), 11/3/25		$2,486,250
	1,000,000		California Resources Corp., Term Loan, 12.868% (LIBOR + 1,038 bps), 12/31/21		1,050,000
	330,000(b)		Centurion Pipeline Co. LLC (fka Lotus Midstream LLC), Initial Term Loan, 9/29/25		330,000
	1,389,500		Delek US Holdings, Inc., Initial Term Loan, 4.75% (LIBOR + 225 bps), 3/31/25		1,373,868
	2,250,000		Encino Acquisition Partners Holdings LLC, Second Lien Initial Term Loan, 9.243% (LIBOR + 675 bps), 10/29/25		2,188,125
	800,000		Equitrans Midstream Corp., Term Loan, 7.0% (LIBOR + 450 bps), 1/31/24		803,000
	181,446		Gavilan Resources LLC, Second Lien Initial Term Loan, 8.49% (LIBOR + 600 bps), 3/1/24		145,610
	2,009,434		Gulf Finance LLC, Tranche B Term Loan, 7.867% (LIBOR + 525 bps), 8/25/23		1,612,570
	600,993		Keane Group Holdings LLC, Initial Term Loan, 6.25% (LIBOR + 375 bps), 5/25/25		580,334
	397,000		Lucid Energy Group II Borrower LLC, Initial Term Loan, 5.49% (LIBOR + 300 bps), 2/17/25		393,824
	1,237,500		Medallion Midland Acquisition LLC, Initial Term Loan, 5.743% (LIBOR + 325 bps), 10/30/24		1,207,336
	623,438		NorthRiver Midstream Finance LP, Initial Term B Loan, 6.047% (LIBOR + 325 bps), 10/1/25		624,477
	982,583		Summit Midstream Partners Holdings LLC, Term Loan Credit Facility, 8.493% (LIBOR + 600 bps), 5/13/22		975,624
	1,496,250		Traverse Midstream Partners LLC, Advance Term Loan, 6.6% (LIBOR + 400 bps), 9/27/24		1,499,979
			Total Oil & Gas		$15,270,997
			Personal, Food & Miscellaneous Services - 3.4%
	1,113,157		CSM Bakery Solutions, Ltd. (fka CSM Bakery Supplies, Ltd.), First Lien Term Loan, 6.8% (LIBOR + 400 bps), 7/3/20		$1,044,976
	1,096,500		Diamond (BC) BV (aka Diversey), Initial USD Term Loan, 5.744% (LIBOR + 300 bps), 9/6/24		1,061,321
	1,543,362		IRB Holding Corp. (aka Arby’s/Buffalo Wild Wings), Term B Loan, 5.744% (LIBOR + 325 bps), 2/5/25		1,534,544
	1,525,000		Knowlton Development Corp., Inc., Initial Term Loan, 6.743% (LIBOR + 425 bps), 12/22/25		1,523,094
	908,093		Match Group, Inc. (fka The Match Group, Inc.), Additional Term B-1 Loan, 5.078% (LIBOR + 250 bps), 11/16/22		905,823
	756,424		Parfums Holding Co., Inc., First Lien Initial Term Loan, 6.879% (LIBOR + 425 bps), 6/30/24		750,751
	1,000,000		Parfums Holding Co., Inc., Second Lien Initial Term Loan, 11.56% (LIBOR + 875 bps), 6/30/25		995,000
	1,582,292		Prime Security Services Borrower LLC (aka Protection 1 Security Solutions) , First Lien December 2018 Incremental Term B-1 Loan, 5.243% (LIBOR + 275 bps), 5/2/22		1,580,314
	925,889		Revlon Consumer Products Corp., Initial Term Loan B, 6.128% (LIBOR + 350 bps), 9/7/23		695,960
			Total Personal, Food & Miscellaneous Services		$10,091,783
			Printing & Publishing - 1.3%
	750,700		A-L Parent LLC (aka Learfield Communications), First Lien Initial Term Loan, 5.75% (LIBOR + 325 bps), 12/1/23		$750,700
	1,630,913		Red Ventures LLC (New Imagitas, Inc.), First Lien Term B-1 Loan, 5.493% (LIBOR + 300 bps), 11/8/24		1,630,404
	914,358		Springer Nature Deutschland GmbH, Initial Term B13 Loan, 5.993% (LIBOR + 350 bps), 8/15/22		914,587
	549,911		Trader Corp., First Lien 2017 Refinancing Term Loan, 5.493% (LIBOR + 300 bps), 9/28/23		547,849
			Total Printing & Publishing		$3,843,540
			Professional & Business Services - 2.5%
	1,500,000		athenahealth, Inc., First Lien Term B Loan, 7.197% (LIBOR + 450 bps), 2/11/26		$1,486,875
	1,262,213		GW Honos Security Corp. (Garda World Security Corp.), Term B Loan, 6.236% (LIBOR + 350 bps), 5/24/24		1,255,375
	1,496,250		Interior Logic Group Holdings IV LLC, Initial Term Loan, 6.803% (LIBOR + 400 bps), 5/30/25		1,483,158
	443,141		LPL Holdings, Inc., Tranche B Term Loan, 4.732% (LIBOR + 225 bps), 9/23/24		440,556
	665,188		Pre-Paid Legal Services, Inc. (aka LegalShield), First Lien Initial Term Loan, 5.493% (LIBOR + 300 bps), 5/1/25		658,536
	985,050		SIWF Holdings, Inc. (aka Spring Window Fashions), First Lien Initial Term Loan, 6.731% (LIBOR + 425 bps), 6/15/25		983,819
	1,197,000		Verscend Holding Corp., Term B Loan, 6.993% (LIBOR + 450 bps), 8/27/25		1,198,870
			Total Professional & Business Services		$7,507,189
			Retail - 5.3%
	1,471,306		1011778 BC Unlimited Liability Co. (New Red Finance, Inc.) (aka Burger King/Tim Hortons), Term B-3 Loan, 4.743% (LIBOR + 225 bps), 2/16/24		$1,462,478
	987,500		Bass Pro Group LLC, Initial Term Loan, 7.493% (LIBOR + 500 bps), 9/25/24		987,500
	1,025,076		CDW LLC (aka AP Exhaust Acquisition LLC) (fka CDW Corp.), Term Loan, 4.25% (LIBOR + 175 bps), 8/17/23		1,025,484
	496,253		Dhanani Group, Inc., Term Loan, 6.243% (LIBOR + 375 bps), 7/20/25		490,670
	1,427,430		Global Appliance, Inc. (aka SharkNinja Operating LLC), Tranche B Term Loan, 6.5% (LIBOR + 400 bps), 9/29/24		1,429,214
	299,250		HD Supply, Inc., Term B-5 Loan, 4.243% (LIBOR + 175 bps), 10/17/23		298,315
	477,707		J.C. Penney Corp., Inc., Term Loan, 6.879% (LIBOR + 425 bps), 6/23/23		423,965
	1,119,302		Men's Wearhouse, Inc., Tranche B-2 Term Loan, 5.759% (LIBOR + 325 bps), 4/9/25		1,116,504
	Principal Amount USD ($)				Value
			Retail - (continued)
	735,482		Michaels Stores, Inc., 2018 New Replacement Term B Loan, 4.99% (LIBOR + 250 bps), 1/30/23		$731,584
	1,492,147		Neiman Marcus Group, Ltd., LLC, Other Term Loan, 5.763% (LIBOR + 325 bps), 10/25/20		1,372,508
	246,250		NPC International, Inc., First Lien Initial Term Loan, 6.051% (LIBOR + 350 bps), 4/19/24		231,783
	2,415,573		PetSmart, Inc., Tranche B-2 Term Loan, 5.52% (LIBOR + 300 bps), 3/11/22		2,065,817
	413,920		Shutterfly, Inc., Incremental Term Loan, 5.25% (LIBOR + 275 bps), 8/17/24		409,522
	2,411,913		Staples, Inc., Closing Date Term Loan, 6.509% (LIBOR + 400 bps), 9/12/24		2,400,104
	1,650,000		United Natural Foods, Inc., Initial Term Loan, 6.743% (LIBOR + 425 bps), 10/22/25		1,468,500
			Total Retail		$15,913,948
			Securities & Trusts - 0.7%
	614,328		Deerfield Dakota Holding LLC (fka Dakota Holding Corp.) (aka Duff & Phelps), Initial Term Loan, 5.743% (LIBOR + 325 bps), 2/13/25		$604,729
	1,000,000		Fastlane Parent Co., Inc., First Lien Initial Term Loan, 7.303% (LIBOR + 450 bps), 2/4/26		1,000,000
	563,468		Guggenheim Partners Investment Management Holdings LLC, Term B Loan, 5.243% (LIBOR + 275 bps), 7/21/23		564,641
			Total Securities & Trusts		$2,169,370
			Telecommunications - 4.4%
	2,514,079		CenturyLink, Inc., Initial Term B Loan, 5.243% (LIBOR + 275 bps), 1/31/25		$2,480,139
	1,036,000(b)		Commscope, Inc., Term Loan B, 2/6/26		1,041,827
	104,500		Commscope, Inc., Tranche 5 Term Loan, 4.493% (LIBOR + 200 bps), 12/29/22		104,382
	1,587,209		Frontier Communications Corp., Term B-1 Loan, 6.25% (LIBOR + 375 bps), 6/15/24		1,533,641
	1,083,926		Go Daddy Operating Co. LLC (GD Finance Co, Inc.), Tranche B-1 Term Loan, 4.743% (LIBOR + 225 bps), 2/15/24		1,083,661
	1,243,406		Level 3 Financing, Inc., Tranche B 2024 Term Loan, 4.731% (LIBOR + 225 bps), 2/22/24		1,241,852
	1,033,952		Plantronics, Inc., Initial Term B Loan, 4.993% (LIBOR + 250 bps), 7/2/25		1,023,612
	247,500		Securus Technologies Holdings, Inc, First Lien Initial Term Loan, 6.993% (LIBOR + 450 bps), 11/1/24		246,649
	350,000		Sprint Communications, Inc., 2006 Incremental Term Loan, 5.5% (LIBOR + 300 bps), 2/2/24		347,594
	2,534,900		Sprint Communications, Inc., Initial Term Loan, 5.0% (LIBOR + 250 bps), 2/2/24		2,506,319
	1,117,713		Virgin Media Bristol LLC, Facility K, 4.989% (LIBOR + 250 bps), 1/15/26		1,111,985
	540,217		Windstream Services LLC (fka Windstream Corp.), Tranche B-6 Term Loan, 6.49% (LIBOR + 400 bps), 3/29/21		527,251
			Total Telecommunications		$13,248,912
			Transport - 1.9%
	1,500,000		Deck Chassis Acquisition, Inc., Second Lien Initial Term Loan, 8.693% (LIBOR + 600 bps), 6/15/23		$1,486,875
	1,938,172		Livingston International, Inc., First Lien Refinancing Term B-3 Loan, 8.553% (LIBOR + 575 bps), 3/20/20		1,943,018
	1,140,627		Navios Maritime Partners LP (Navios Partners Finance (US), Inc.), Initial Term Loan, 7.78% (LIBOR + 500 bps), 9/14/20		1,137,062
	318,759		Patriot Container Corp. (aka Wastequip), First Lien Closing Date Term Loan, 5.993% (LIBOR + 350 bps), 3/20/25		315,572
	760,000		Syncreon Global Finance (US), Inc. (Syncreon Group BV), Term Loan, 6.994% (LIBOR + 425 bps), 10/28/20		585,200
			Total Transport		$5,467,727
			Transportation - 1.4%
	861,682		DynCorp International, Inc., Term Loan B2, 8.481% (LIBOR + 600 bps), 7/7/20		$857,374
	725,000		Envision Healthcare Corp., Initial Term Loan, 6.243% (LIBOR + 375 bps), 10/10/25		699,738
	2,803,399		YRC Worldwide, Inc., Tranche B-1 Term Loan, 11.244% (LIBOR + 850 bps), 7/26/22		2,743,827
			Total Transportation		$4,300,939
			Utilities - 2.5%
	1,089,158		APLP Holdings, Ltd. Partnership, Term Loan, 5.243% (LIBOR + 275 bps), 4/13/23		$1,080,079
	1,435,500		Calpine Construction Finance Co., LP, Term B Loan, 4.993% (LIBOR + 250 bps), 1/15/25		1,425,631
	1,198,956		Calpine Corp., Term Loan, 5.31% (LIBOR + 250 bps), 1/15/24		1,194,031
	703,737		Compass Power Generation LLC, Tranche B-1 Term Loan, 5.993% (LIBOR + 350 bps), 12/20/24		704,066
	1,199,365		Eastern Power LLC (Eastern Covert Midco LLC) (aka TPF II LC LLC), Term Loan, 6.243% (LIBOR + 375 bps), 10/2/23		1,194,496
	858,181		NRG Energy, Inc., Term Loan, 4.243% (LIBOR + 175 bps), 6/30/23		855,916
	680,279		St. Joseph Energy Center LLC, Term B Loan Advance, 6.0% (LIBOR + 350 bps), 4/10/25		676,027
	438,900		Vistra Operations Co., LLC (fka Tex Operations Co. LLC), Initial Term Loan, 4.493% (LIBOR + 200 bps), 8/4/23		438,117
			Total Utilities		$7,568,363
			TOTAL SENIOR SECURED FLOATING RATE LOAN INTERESTS
			(Cost $401,956,340)		$392,792,680
	Shares				Value
			COMMON STOCKS - 0.1% of Net Assets
			Biotechnology - 0.0%†
	2,454(d)		Progenics Pharmaceuticals, Inc.		$10,847
			Total Biotechnology		$10,847
			Health Care Technology - 0.0%†
	209,625^(d)		Medical Card System, Inc.		$2,096
			Total Health Care Technology		$2,096
			Interactive Media & Services - 0.0%†
	1,242(d)		Solocal Group		$695
			Total Interactive Media & Services		$695
	Shares				Value
			Specialty Retail - 0.1%
	91,346^(d)		Targus Cayman SubCo., Ltd.		$190,000
			Total Specialty Retail		$190,000
			TOTAL COMMON STOCKS
			(Cost $334,200)		$203,638
	Principal Amount USD ($)				Value
			ASSET BACKED SECURITY - 0.2% of Net Assets
	500,000(a)		Hertz Fleet Lease Funding LP, Series 2016-1, Class E, 6.017% (1 Month USD LIBOR + 350 bps), 4/10/30 (144A)		$501,466
			TOTAL ASSET BACKED SECURITY
			(Cost $503,250)		$501,466
			COLLATERALIZED MORTGAGE OBLIGATION - 0.3% of Net Assets
	760,000(a)		Freddie Mac Stacr Trust, Series 2019-HQA1, Class B2, 0.0% (1 Month USD LIBOR + 1,225 bps), 2/25/49 (144A)		$762,131
			TOTAL COLLATERALIZED MORTGAGE OBLIGATION
			(Cost $760,000)		$762,131
			CORPORATE BONDS - 6.8% of Net Assets
			Aerospace & Defense - 0.3%
	1,000,000		Bombardier, Inc., 6.0%, 10/15/22 (144A)		$1,005,000
			Total Aerospace & Defense		$1,005,000
			Airlines - 0.1%
	365,000		Air Canada 2015-1 Class C Pass Through Trust, 5.0%, 3/15/20 (144A)		$366,898
			Total Airlines		$366,898
			Banks - 0.4%
	1,100,000(e)(f)		BNP Paribas SA, 7.625% (5 Year USD Swap Rate + 631 bps) (144A)		$1,159,125
			Total Banks		$1,159,125
			Chemicals - 0.2%
	758,000		Rain CII Carbon LLC/CII Carbon Corp., 7.25%, 4/1/25 (144A)		$655,670
			Total Chemicals		$655,670
			Commercial Services - 0.3%
	900,000		United Rentals North America, Inc., 4.625%, 7/15/23		$917,325
			Total Commercial Services		$917,325
			Diversified Financial Services - 0.6%
	1,700,000		Avation Capital SA, 6.5%, 5/15/21 (144A)		$1,687,250
			Total Diversified Financial Services		$1,687,250
			Entertainment - 0.5%
	1,500,000		Enterprise Development Authority, 12.0%, 7/15/24 (144A)		$1,511,250
			Total Entertainment		$1,511,250
			Forest Products & Paper - 0.5%
	1,515,000		Schweitzer-Mauduit International, Inc., 6.875%, 10/1/26 (144A)		$1,488,488
			Total Forest Products & Paper		$1,488,488
			Healthcare-Services - 0.2%
	500,000		CHS/Community Health Systems, Inc., 6.25%, 3/31/23		$481,250
	48,000		CHS/Community Health Systems, Inc., 8.125%, 6/30/24 (144A)		40,320
			Total Healthcare-Services		$521,570
			Media - 0.4%
	300,000		CSC Holdings LLC, 5.5%, 4/15/27 (144A)		$300,672
	1,000,000		Sirius XM Radio, Inc., 3.875%, 8/1/22 (144A)		996,250
			Total Media		$1,296,922
			Oil & Gas - 0.5%
	245,000		Gulfport Energy Corp., 6.625%, 5/1/23		$240,100
	1,300,000		Resolute Energy Corp., 8.5%, 5/1/20		1,303,250
			Total Oil & Gas		$1,543,350
			Oil & Gas Services - 0.7%
	1,000,000		Archrock Partners LP/Archrock Partners Finance Corp., 6.0%, 10/1/22		$990,000
	1,000,000		FTS International, Inc., 6.25%, 5/1/22		951,250
			Total Oil & Gas Services		$1,941,250
			Pharmaceuticals - 0.3%
	1,000,000		Bausch Health Cos., Inc., 5.5%, 11/1/25 (144A)		$1,008,750
			Total Pharmaceuticals		$1,008,750
			Retail - 0.1%
	208,000		Penske Automotive Group, Inc., 3.75%, 8/15/20		$206,673
			Total Retail		$206,673
			Telecommunications - 1.1%
	1,000,000		Frontier Communications Corp., 11.0%, 9/15/25		$638,750
	750,000		Hughes Satellite Systems Corp., 5.25%, 8/1/26		733,125
	2,000,000(g)		Windstream Services LLC/Windstream Finance Corp., 8.625%, 10/31/25 (144A)		1,865,000
			Total Telecommunications		$3,236,875
			Transportation - 0.6%
	1,000,000(a)		Golar LNG Partners LP, 7.063% (3 Month USD LIBOR + 440 bps), 5/22/20		$987,500
	800,000(a)		Golar LNG Partners LP, 8.934% (3 Month USD LIBOR + 625 bps), 5/18/21 (144A)		796,046
			Total Transportation		$1,783,546
			TOTAL CORPORATE BONDS
			(Cost $20,689,856)		$20,329,942
	Principal Amount USD ($)				Value
			INSURANCE-LINKED SECURITIES - 2.2% of Net Assets (h)
			Catastrophe Linked Bonds - 0.4%
			Earthquakes - California - 0.1%
	250,000(a)		Ursa Re, 3.5% (ZERO + 350 bps), 5/27/20 (144A)		$247,750
			Multiperil - U.S. - 0.3%
	250,000(a)		Kilimanjaro Re, 9.185% (3 Month U.S. Treasury Bill + 675 bps), 12/6/19 (144A)		$251,350
	250,000(a)		Kilimanjaro Re, 11.685% (3 Month U.S. Treasury Bill + 925 bps), 12/6/19 (144A)		251,350
	400,000(a)		Kilimanjaro II Re, 8.293% (6 Month USD LIBOR + 572 bps), 4/20/21 (144A)		403,600
					$906,300
			Total Catastrophe Linked Bonds		$1,154,050
			Collateralized Reinsurance - 0.4%
			Earthquakes - California - 0.1%
	250,000+(d)		Resilience Re, 4/8/19		$254,850
			Multiperil - Worldwide - 0.2%
	307,363+		Kilarney Re 2018,  4/15/19		$277,241
	250,000+(d)		Resilience Re, 10/15/19		268,125
	300,000+(d)		Resilience Re, 5/1/19		3,000
					$548,366
			Windstorm - Florida - 0.1%
	250,000+		Formby Re 2018, 6/15/19		$253,500
	86,906+(d)		Formby Re 2018-2, 6/30/19		713
					$254,213
			Windstorm - U.S. Regional - 0.0%†
	250,000+(d)		Promissum Re 2018, 6/15/19		$18,300
			Total Collateralized Reinsurance		$1,075,729
			Reinsurance Sidecars - 1.4%
			All Natural Peril - Worldwide - 0.1%
	380,000+(d)		Eden Re II, 3/22/23 (144A)		$386,688
			Multiperil - U.S. - 0.1%
	250,000+		Carnoustie Re 2016, 11/30/20		$6,750
	250,000+(d)		Carnoustie Re 2017, 11/30/21		63,550
	250,000+(d)		Harambee Re 2018, 12/31/21		220,100
	76,163+(d)		Harambee Re 2019, 12/31/22		76,612
					$367,012
			Multiperil - Worldwide - 1.2%
	250,000+(d)		Alturas Re 2019-2, 3/10/22		$251,275
	250,000+(d)		Bantry Re 2016, 3/31/20		20,150
	1,270,809+		Berwick Re 2018-1, 12/31/21		209,811
	978,371+(d)		Berwick Re 2019-1, 12/31/22		993,340
	20,000+(d)		Eden Re II, 3/22/22 (144A)		63,006
	250,000+		Gleneagles Re 2016, 11/30/20		15,500
	250,000+(d)		Limestone Re 2018, 3/1/22		258,450
	300,000+(d)		Lorenz Re 2018, 7/1/21		218,490
	300,000+(d)		Merion Re 2018-2, 12/31/21		296,220
	400,000+		Pangaea Re 2016-1, 11/30/20		520
	400,000+		Pangaea Re 2017-1, 11/30/21		-
	400,000+(d)		Pangaea Re 2018-1, 12/31/21		23,520
	400,000+(d)		Pangaea Re 2018-3, 7/1/22		341,320
	327,699+(d)		Pangaea Re 2019-1, 2/1/23		330,470
	250,000+(d)		Sector Re V, Series 8, Class C, 12/1/23 (144A)		258,204
	400,000+(d)		St. Andrews Re 2017-1, 2/1/20		27,120
	347,597+(d)		St. Andrews Re 2017-4, 6/1/19		34,204
	253,645+		Woburn Re 2018, 12/31/21		107,799
	244,914+(d)		Woburn Re 2019, 12/31/22		249,518
					$3,698,917
			Total Reinsurance Sidecars		$4,452,617
			TOTAL INSURANCE-LINKED SECURITIES
			(Cost $6,945,146)		$6,682,396
			U.S. GOVERNMENT AND AGENCY OBLIGATION - 2.6% of Net Assets
	8,000,000(i)		U.S. Treasury Bills, 3/26/19		$7,986,736
			TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATION
			(Cost $7,986,817)		$7,986,736
	Shares				Value
			INVESTMENT COMPANIES - 1.7% of Net Assets
	40,000		BlackRock Floating Rate Income Strategies Fund, Inc.		$517,200
	30,000		Eaton Vance Floating-Rate Income Trust		408,900
	50,000		First Trust Senior Floating Rate Income Fund II		613,500
	50,000		Invesco Senior Income Trust		212,000
	42,000		Invesco Senior Loan ETF (formerly, PowerShares Senior Loan Portfolio)		957,600
	27,000		iShares iBoxx $ High Yield Corporate Bond ETF		2,315,250
			TOTAL INVESTMENT COMPANIES
			(Cost $5,127,287)		$5,024,450
	Principal Amount USD ($)				Value
			TEMPORARY CASH INVESTMENTS - 0.8% of Net Assets
			REPURCHASE AGREEMENTS -  0.8%
	755,000		$755,000 Royal Bank of Canada, 2.53%, dated 2/28/19 plus accrued interest on 3/1/19 collateralized by $770,155 Federal National Mortgage Association, 3.5% - 4.5%, 5/1/48 - 2/1/49		$755,000
	965,000		$965,000 ScotiaBank, 2.55%, dated 2/28/19 plus accrued interest on 3/1/19 collateralized by the following: $76 Freddie Mac Giant, 4.5%, 6/1/42 $984,310 U.S. Treasury Notes, 0.1% - 2.5%, 1/15/22 - 3/31/23		965,000
	565,000		$565,000 TD Securities USA LLC, 2.53%, dated 2/28/19 plus accrued interest on 3/1/19 collateralized by $576,300 Freddie Mac Giant, 4.0%, 10/1/45		565,000
					$2,285,000
			TOTAL TEMPORARY CASH INVESTMENTS
			(Cost $2,285,000)		$2,285,000
			TOTAL INVESTMENTS IN UNAFFILIATED ISSUERS - 146.5%
			(Cost $446,587,896)		$436,568,439
			OTHER ASSETS AND LIABILITIES - (46.5)%		$(138,513,242)
			NET ASSETS - 100.0%		$298,055,197

 

bps	Basis Points.
LIBOR	London Interbank Offered Rate.
PRIME	U.S. Federal Funds Rate.
ZERO	Zero Constant Index.
(144A)	Security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold normally to qualified institutional buyers in a transaction exempt from registration. At February 28, 2019, the value of these securities amounted to $16,006,264, or 5.4% of net assets.

†	Amount rounds to less than 0.1%.
*	Senior secured floating rate loan interests in which the Fund invests generally pay interest at rates that are periodically redetermined by reference to a base lending rate plus a premium. These base lending rates are generally (i) the lending rate offered by one or more major European banks, such as LIBOR, (ii) the prime rate offered by one or more major United States banks, (iii) the rate of a certificate of deposit or (iv) other base lending rates used by commercial lenders. The interest rate shown is the rate accruing at February 28, 2019.
^	Security is valued using fair value methods (other than supplied by independent pricing services).
+	Security that used significant unobservable inputs to determine its value.
(a)	Floating rate note. Coupon rate, reference index and spread shown at February 28, 2019.
(b)	This term loan will settle after February 28, 2019, at which time the interest rate will be determined.
(c)	Payment-in-kind (PIK) security which may pay interest in the form of additional principal amount.
(d)	Non-income producing security.
(e)	The interest rate is subject to change periodically. The interest rate and/or reference index and spread shown at February 28, 2019.
(f)	Security is perpetual in nature and has no stated maturity date.
(g)	Security is in default.
(h)	Securities are restricted as to resale.
(i)	Security issued with a zero coupon. Income is recognized through accretion of discount.

 

SWAP CONTRACTS

CENTRALLY CLEARED CREDIT DEFAULT SWAP CONTRACTS - SELL PROTECTION

Notional Amount ($)(1)			Obligation Reference/ Index	Pay/ Receive(2)		Annual Fixed Rate		Expiration Date		Premiums Paid				Unrealized Appreciation (Depreciation)				Market Value
	1,023,000		Markit CDX North America High Yield Index Series 24	Receive		5.00%		6/20/20		$	54,634			$	(1,831	)		$	52,803
	1,048,100		Markit CDX North America High Yield Index Series 25	Receive		5.00%		12/20/20			58,123				4,006				62,129
TOTAL SWAP CONTRACTS										$	112,757			$	2,175			$	114,932

(1)	The notional amount is the maximum amount that a seller of credit protection would be obligated to pay upon occurrence of a credit event.
(2)	Receives Quarterly.

 

Principal amounts are denominated in U.S. dollars (“USD”) unless otherwise noted.

Various inputs are used in determining the value of the Trust's investments. These inputs are summarized in the three broad levels below.

Level 1 - quoted prices in active markets for identical securities.

Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.).

Level 3 - significant unobservable inputs (including the Trust's own assumptions in determining fair value of investments).

The following is a summary of the inputs used as of February 28, 2019, in valuing the Trust's investments.

		Level 1				Level 2				Level 3				Total
Senior Secured Floating Rate Loan Interests
Insurance		$	–			$	11,736,483			$	692,754			$	12,429,237
All Other Senior Secured Floating Rate Loan Interests			–				380,363,443				–				380,363,443
Common Stocks
Health Care Technology			–				–				2,096				2,096
Specialty Retail			–				–				190,000				190,000
All Other Common Stocks			11,542				–				–				11,542
Asset Backed Security			–				501,466				–				501,466
Collateralized Mortgage Obligation			–				762,131				–				762,131
Corporate Bonds			–				20,329,942				–				20,329,942
Insurance-Linked Securities
Collateralized Reinsurance
Earthquakes - California			–				–				254,850				254,850
Multiperil - Worldwide			–				–				548,366				548,366
Windstorm - Florida			–				–				254,213				254,213
Windstorm - U.S. Regional			–				–				18,300				18,300
Reinsurance Sidecars
All Natural Peril - Worldwide			–				–				386,688				386,688
Multiperil – U.S.			–				–				367,012				367,012
Multiperil - Worldwide			–				–				3,698,917				3,698,917
All Other Insurance-Linked Securities			–				1,154,050				–				1,154,050
U.S. Government and Agency Obligation			–				7,986,736				–				7,986,736
Investment Companies			5,024,450				–				–				5,024,450
Repurchase Agreements			–				2,285,000				–				2,285,000
Total Investments in Securities		$	5,035,992			$	425,119,251			$	6,413,196			$	436,568,439
Other Financial Instruments
Swap contracts, at value		$	–			$	114,932			$	–			$	114,932
Total Other Financial Instruments		$	–			$	114,932			$	–			$	114,932