|
Barings Global Short Duration High Yield Fund
|
|||||||||||||
|
SCHEDULE OF INVESTMENTS
|
|||||||||||||
|
March 31, 2026
|
|||||||||||||
|
SHARES
|
COST
|
FAIR VALUE
|
|||||||||||
|
Equities* — 0.10%:
|
|||||||||||||
|
Common Stocks — 0.10%:
|
|||||||||||||
|
Cohesity Series G Preferred¤
|
3,755
|
$
|
58,936
|
$
|
71,345
|
||||||||
|
Cohesity Series G-1 Preferred¤
|
2,595
|
40,730
|
49,305
|
||||||||||
|
Flint Group Ordinary A Shares Stapled to 2L¤+
|
1,395,572
|
149
|
0
|
||||||||||
|
ESC CB 144A High Ridge¤
|
2,982
|
0
|
0
|
||||||||||
|
Pretium Packaging
|
8,783
|
2,759,491
|
163,952
|
||||||||||
|
Travelex Private Equity Stapled to 12.5% New Money Notes¤+
|
16,764
|
1
|
0
|
||||||||||
|
Naviera Armas¤+
|
16,899,921
|
0
|
0
|
||||||||||
|
Total Common Stocks
|
18,330,372
|
2,859,307
|
284,602
|
||||||||||
|
Warrant — 0.00%:
|
|||||||||||||
|
Travelex Topco Limited¤+
|
2,218
|
0
|
0
|
||||||||||
|
Total Warrant
|
2,218
|
0
|
0
|
||||||||||
|
Total Equities
|
18,332,590
|
2,859,307
|
284,602
|
||||||||||
|
EFFECTIVE INTEREST RATE‡
|
DUE DATE
|
PRINCIPAL
|
COST
|
FAIR VALUE
|
|||||||||
|
Fixed Income — 136.03%:
|
|||||||||||||
|
Asset-Backed Securities — 8.22%:
|
|||||||||||||
|
CDO/CLO — 8.22%:
|
|||||||||||||
|
Anchorage Capital CLO LTD, 3M SOFR + 5.500%+^~#
|
9.08
|
%
|
1/20/2039
|
$
|
1,550,000
|
$
|
1,550,000
|
$
|
1,499,941
|
||||
|
Anchorage Capital CLO LTD, 3M SOFR + 7.000%^~#
|
10.67
|
1/20/2035
|
1,000,000
|
1,000,000
|
861,144
|
||||||||
|
Ares CLO LTD, 3M SOFR + 6.750%+^~#
|
10.42
|
10/28/2034
|
1,700,000
|
1,700,000
|
1,579,866
|
||||||||
|
Ares Management LLC, 3M SOFR + 5.500%0+^~#
|
9.17
|
10/24/2036
|
2,000,000
|
2,000,000
|
1,869,544
|
||||||||
|
Bain CAP CR CLO 2020-2R LTD, 3M SOFR + 6.610%+~^#
|
10.54
|
7/19/2034
|
1,000,000
|
990,000
|
824,649
|
||||||||
|
Birch Grove Capital LP, 3M SOFR + 5.900%+^~
|
0.00
|
4/23/2039
|
1,750,000
|
1,750,000
|
1,750,000
|
||||||||
|
Canyon Capital, 3M SOFR + 4.75%+^~#
|
8.42
|
4/15/2038
|
1,175,000
|
1,175,000
|
1,078,708
|
||||||||
|
Canyon Capital, 3M SOFR + 6.000+^~#
|
9.67
|
10/15/2034
|
1,000,000
|
1,000,000
|
861,675
|
||||||||
|
CIFC Funding 2020-1 LTD, 3M SOFR + 6.250%+~^
|
10.18
|
7/15/2036
|
1,900,000
|
1,900,000
|
1,815,826
|
||||||||
|
KKR Financial CLO LTD 2017-20, 3M SOFR + 5.500%+~^#
|
9.43
|
10/16/2030
|
1,500,000
|
1,500,000
|
1,466,064
|
||||||||
|
KKR Financial CLO LTD 34-2, 3M SOFR + 6.850%+~^
|
10.78
|
7/15/2034
|
2,000,000
|
1,980,000
|
1,720,742
|
||||||||
|
Octagon 2021-57 LTD, 3M SOFR + 6.600%+~^#
|
10.53
|
10/15/2034
|
1,500,000
|
1,500,000
|
1,338,259
|
||||||||
|
Palmer Square Capital Management LLC, 3M SOFR + 4.700%+^~#
|
8.66
|
10/20/2038
|
2,000,000
|
2,000,000
|
1,934,074
|
||||||||
|
Regatta Funding, 3M SOFR + 6.050%+^~
|
0.00
|
4/15/2039
|
2,000,000
|
2,000,000
|
2,000,000
|
||||||||
|
Sixth Street CLO LTD, 3M SOFR + 5.000%+^~#
|
8.67
|
7/17/2038
|
1,500,000
|
1,500,000
|
1,452,556
|
||||||||
|
Sound Point CLO XVIII 2018-18D, 3M SOFR + 5.500%+~^#
|
9.43
|
1/21/2031
|
2,000,000
|
2,000,000
|
1,139,580
|
||||||||
|
Symphony Asset Management LLC, 3M SOFR + 5.400%+^~#
|
9.07
|
7/20/2038
|
1,000,000
|
1,000,000
|
981,311
|
||||||||
|
Total CDO/CLO
|
26,575,000
|
26,545,000
|
24,173,939
|
||||||||||
|
Total Asset-Backed Securities
|
26,575,000
|
26,545,000
|
24,173,939
|
||||||||||
|
Bank Loans§ — 14.39%:
|
|||||||||||||
|
Beverage, Food & Tobacco — 1.06%:
|
|||||||||||||
|
Sizzling Platter, 3M SOFR + 5.000%**
|
8.67
|
6/25/2032
|
3,614,223
|
3,387,084
|
3,113,307
|
||||||||
|
Total Chemicals, Plastics and Rubber
|
3,614,223
|
3,387,084
|
3,113,307
|
||||||||||
|
Chemicals, Plastics and Rubber — 0.47%:
|
|||||||||||||
|
Flint Group 2L, 3M EURIBOR + 6.9000% PIK and 0.1000% Cash~
|
10.93
|
12/31/2027
|
2,061,545
|
1,066,888
|
79,885
|
||||||||
|
Prince, 3M SOFR + 4.250%~
|
8.05
|
4/30/2030
|
732,910
|
1,021,731
|
441,270
|
||||||||
|
Prince, 3M SOFR + 5.500%~
|
9.30
|
4/30/2030
|
255,987
|
682,787
|
152,952
|
||||||||
|
Prince, 3M SOFR + 4.250%~
|
8.05
|
4/30/2030
|
977,213
|
602,197
|
170,035
|
||||||||
|
Prince, 3M SOFR + 5.500%~
|
9.30
|
4/30/2030
|
3,157,173
|
3,716,577
|
552,505
|
||||||||
|
Total Chemicals, Plastics and Rubber
|
7,184,828
|
7,090,180
|
1,396,647
|
||||||||||
|
Containers, Packaging and Glass — 1.55%:
|
|||||||||||||
|
Five Star, 3M SOFR + 4.2500%~
|
7.92
|
5/7/2029
|
1,969,388
|
1,947,778
|
1,928,779
|
||||||||
|
Trident Parent, LLC, 3M SOFR + 3.7500%~
|
7.42
|
9/15/2028
|
2,772,054
|
2,697,878
|
2,620,894
|
||||||||
|
Total Containers, Packaging and Glass
|
4,741,442
|
4,645,656
|
4,549,673
|
||||||||||
|
Diversified/Conglomerate Service — 0.65%:
|
|||||||||||||
|
Internet Brands, Inc., 3M SOFR + 4.2500%~
|
7.92
|
12/11/2031
|
2,913,584
|
2,876,385
|
1,929,025
|
||||||||
|
Total Diversified/Conglomerate Service
|
2,913,584
|
2,876,385
|
1,929,025
|
||||||||||
|
Healthcare and Pharmaceuticals — 5.34%:
|
|||||||||||||
|
Bausch Health Companies, 3M SOFR + 6.2500%~
|
9.92
|
9/25/2030
|
10,887,500
|
10,720,107
|
10,491,304
|
||||||||
|
DuPage Medical Group Limited, 3M SOFR + 3.000%~
|
7.26
|
3/13/2028
|
1,724,873
|
1,622,237
|
1,464,849
|
||||||||
|
FinThrive / nThrive, 3M SOFR + 4.000%~
|
7.69
|
12/15/2028
|
1,091,708
|
1,064,130
|
861,085
|
||||||||
|
NAPA Management Services Corp, 3M SOFR + 5.250%~
|
9.02
|
2/23/2029
|
1,258,612
|
1,195,194
|
788,206
|
||||||||
|
Radiology Partners, 3M SOFR + 4.500%~
|
8.17
|
6/25/2032
|
2,136,521
|
2,115,155
|
2,101,033
|
||||||||
|
Total Healthcare and Pharmaceuticals
|
17,099,214
|
16,716,823
|
15,706,477
|
||||||||||
|
Healthcare, Education and Childcare — 0.04%:
|
|||||||||||||
|
Medical Solutions T/L, 3M SOFR + 7.0000%~
|
10.77
|
9/22/2027
|
1,473,684
|
1,458,947
|
117,895
|
||||||||
|
Total Healthcare, Education and Childcare
|
1,473,684
|
1,458,947
|
117,895
|
||||||||||
|
High Tech Industries — 0.42%:
|
|||||||||||||
|
Cornerstone OnDemand, 3M SOFR + 3.750%~
|
7.54
|
10/31/2028
|
0
|
(72,500)
|
0
|
||||||||
|
ION Platform Group, 3M SOFR + 3.750%~
|
7.69
|
9/30/2032
|
1,542,000
|
1,526,580
|
1,232,736
|
||||||||
|
Total High Tech Industries
|
1,542,000
|
1,454,080
|
1,232,736
|
||||||||||
|
Hotel Gaming & Leisure — 1.30%:
|
|||||||||||||
|
J&J Ventures Gaming, 3M SOFR + 5.000%¤
|
8.67
|
4/26/2030
|
1,995,000
|
1,977,485
|
1,979,040
|
||||||||
|
One Toronto Gaming, 3M SOFR + 4.250%~
|
7.92
|
7/20/2030
|
1,955,992
|
1,909,124
|
1,828,853
|
||||||||
|
Total Hotel Gaming & Leisure
|
3,950,992
|
3,886,609
|
3,807,893
|
||||||||||
|
Packaging and Containers — 0.00%:
|
|||||||||||||
|
Valcour Packaging (MOLD-RITE), 3M SOFR + 1.5000% (2.25% PIK)~
|
5.29
|
10/10/2028
|
4,404
|
4,404
|
3,265
|
||||||||
|
Total Packaging and Containers
|
4,404
|
4,404
|
3,265
|
||||||||||
|
Services: Business — 1.16%:
|
|||||||||||||
|
Consilio, 3M SOFR + 3.750%~
|
7.42
|
5/12/2028
|
1,386,908
|
1,290,073
|
1,079,764
|
||||||||
|
Sabre, 1M SOFR + 6.0000%~
|
9.77
|
11/15/2029
|
460,068
|
461,400
|
359,718
|
||||||||
|
The Fidelis Partnership, 3M SOFR + 5.0000%¤~
|
8.65
|
12/31/2031
|
1,975,000
|
1,965,125
|
1,966,903
|
||||||||
|
Total Services: Business
|
3,821,976
|
3,716,598
|
3,406,385
|
||||||||||
|
Telecommunication — 2.40%:
|
|||||||||||||
|
BMC Software, 3M SOFR + 5.7500%~
|
9.47
|
7/2/2032
|
6,005,564
|
5,881,607
|
4,995,908
|
||||||||
|
Brightspeed, 3M SOFR + 4.250%~
|
7.92
|
4/3/2031
|
1,000,000
|
921,216
|
929,750
|
||||||||
|
Zayo Group, 3M SOFR + 3.000%~
|
6.79
|
3/8/2030
|
1,144,770
|
1,106,058
|
1,122,264
|
||||||||
|
Total Telecommunication
|
8,150,334
|
7,908,881
|
7,047,922
|
||||||||||
|
Total Bank Loans
|
54,496,681
|
|
53,145,647
|
|
42,311,225
|
||||||||
|
Corporate Bonds — 113.42%:
|
|||||||||||||
|
Automobile — 2.55%:
|
|||||||||||||
|
Adient PLC+^
|
8.25
|
4/15/2031
|
870,000
|
870,000
|
902,055
|
||||||||
|
INA-Holding Schaeffler GmbH & Co KG+
|
7.00
|
11/15/2031
|
1,403,209
|
1,296,654
|
1,467,059
|
||||||||
|
J.B. Poindexter & Co. Inc.^
|
8.75
|
12/15/2031
|
4,262,000
|
4,284,688
|
4,318,187
|
||||||||
|
NFI Group^
|
9.25
|
7/1/2030
|
200,000
|
200,000
|
213,698
|
||||||||
|
ZF Friedrichshafen+
|
7.00
|
6/12/2030
|
577,928
|
570,672
|
589,528
|
||||||||
|
Total Automobile
|
7,313,137
|
7,222,014
|
7,490,527
|
||||||||||
|
Beverage, Food and Tobacco — 0.82%:
|
|||||||||||||
|
Sizzling Platter^
|
9.50
|
7/1/2032
|
2,671,000
|
2,736,349
|
2,420,839
|
||||||||
|
Total Beverage, Food and Tobacco
|
2,671,000
|
2,736,349
|
2,420,839
|
||||||||||
|
Broadcasting and Entertainment — 3.66%:
|
|||||||||||||
|
Altice USA Inc.^
|
11.75
|
1/31/2029
|
2,723,000
|
2,693,623
|
1,968,000
|
||||||||
|
Clear Channel Worldwide Holdings Inc.^
|
7.75
|
4/15/2028
|
3,337,000
|
3,370,842
|
3,352,524
|
||||||||
|
Connect Finco Sarl+^
|
9.00
|
9/15/2029
|
1,186,000
|
1,186,000
|
1,245,875
|
||||||||
|
Cox Media Group^#
|
8.88
|
6/18/2029
|
2,726,602
|
2,347,371
|
2,358,486
|
||||||||
|
Dish Network Corporation^
|
11.75
|
11/15/2027
|
1,770,000
|
1,768,017
|
1,823,881
|
||||||||
|
Total Broadcasting and Entertainment
|
11,742,602
|
11,365,853
|
10,748,766
|
||||||||||
|
Buildings and Real Estate — 4.88%:
|
|||||||||||||
|
Intrum Justitia (fka Lindorff)+
|
8.00
|
9/11/2027
|
293,991
|
295,755
|
292,263
|
||||||||
|
Intrum Justitia (fka Lindorff)+^
|
7.75
|
9/11/2028
|
1,198,405
|
1,092,973
|
1,044,263
|
||||||||
|
Knife River Corporation^
|
7.75
|
5/1/2031
|
2,107,000
|
2,119,334
|
2,180,882
|
||||||||
|
Service Properties Trust
|
8.88
|
6/15/2032
|
4,330,000
|
4,199,408
|
4,280,277
|
||||||||
|
Smyrna Ready Mix Concrete^
|
8.88
|
11/15/2031
|
3,359,000
|
3,396,935
|
3,461,762
|
||||||||
|
The New Home Company^
|
9.25
|
10/1/2029
|
1,369,000
|
1,420,617
|
1,381,061
|
||||||||
|
Wilsonart LLC^
|
11.00
|
8/15/2032
|
2,362,000
|
2,332,726
|
1,711,767
|
||||||||
|
Total Buildings and Real Estate
|
15,019,396
|
14,857,748
|
14,352,275
|
||||||||||
|
Cargo Transport — 3.86%:
|
|||||||||||||
|
Carriage Purchaser Inc.^
|
7.88
|
10/15/2029
|
7,106,000
|
6,606,013
|
6,769,841
|
||||||||
|
OneSky Flight, LLC^
|
8.88
|
12/15/2029
|
1,663,000
|
1,671,620
|
1,716,244
|
||||||||
|
Railworks Hldgs Lp / Railworks Sr^
|
8.25
|
11/15/2028
|
2,881,000
|
2,844,200
|
2,876,458
|
||||||||
|
Total Cargo Transport
|
11,650,000
|
11,121,833
|
11,362,543
|
||||||||||
|
Chemicals, Plastics and Rubber — 4.12%:
|
|||||||||||||
|
Bausch Health Companies+^
|
10.00
|
4/15/2032
|
2,000,000
|
2,011,301
|
2,045,061
|
||||||||
|
Consolidated Energy Finance SA+^
|
12.00
|
2/15/2031
|
5,447,000
|
5,047,201
|
5,349,281
|
||||||||
|
Ineos+
|
5.63
|
8/15/2030
|
115,585
|
104,105
|
100,556
|
||||||||
|
Ineos+
|
7.25
|
3/31/2031
|
751,306
|
768,140
|
682,924
|
||||||||
|
Proman AG+^#
|
5.63
|
10/15/2028
|
2,020,000
|
1,640,236
|
1,881,125
|
||||||||
|
Windsor Holdings III LLC^
|
8.50
|
6/15/2030
|
2,000,000
|
2,000,000
|
2,070,984
|
||||||||
|
Total Chemicals, Plastics and Rubber
|
12,333,891
|
11,570,983
|
12,129,931
|
||||||||||
|
Construction and Building — 1.76%:
|
|||||||||||||
|
American Bath^
|
9.75
|
7/15/2030
|
2,305,000
|
2,305,000
|
2,159,444
|
||||||||
|
Innomotics+
|
6.25
|
10/15/2031
|
725,877
|
744,380
|
643,758
|
||||||||
|
US LBM^
|
9.50
|
6/15/2031
|
2,735,000
|
2,755,226
|
2,380,589
|
||||||||
|
Total Construction and Building
|
5,765,877
|
5,804,606
|
5,183,791
|
||||||||||
|
Consumer Goods: Durable — 0.20%:
|
|||||||||||||
|
Newell Brands Inc.^
|
8.50
|
6/1/2028
|
583,000
|
583,000
|
601,617
|
||||||||
|
Consumer Goods: Durable
|
583,000
|
583,000
|
601,617
|
||||||||||
|
Consumer Goods: Non-durable — 0.36%:
|
|||||||||||||
|
Skechers^
|
10.00
|
7/15/2033
|
1,000,000
|
1,092,510
|
1,063,713
|
||||||||
|
Consumer Goods: Durable
|
1,000,000
|
1,092,510
|
1,063,713
|
||||||||||
|
Containers, Packaging and Glass — 8.99%:
|
|||||||||||||
|
Mauser Packaging Solutions^
|
9.25
|
4/15/2030
|
7,327,000
|
7,261,483
|
6,803,506
|
||||||||
|
Mauser Packaging Solutions^#
|
7.88
|
4/15/2030
|
4,197,000
|
4,197,000
|
4,184,409
|
||||||||
|
Novolex Holdings, Inc.^
|
8.75
|
4/15/2030
|
12,544,000
|
12,074,100
|
11,695,199
|
||||||||
|
Trident Parent, LLC^
|
12.75
|
12/31/2028
|
3,428,000
|
3,520,795
|
3,337,325
|
||||||||
|
Trivium+
|
6.63
|
7/15/2030
|
416,108
|
407,484
|
418,153
|
||||||||
|
Total Containers, Packaging, and Glass
|
27,912,108
|
27,460,862
|
26,438,592
|
||||||||||
|
Diversified/Conglomerate Manufacturing — 0.62%:
|
|||||||||||||
|
Alta Equipment Group^
|
9.00
|
6/1/2029
|
2,046,000
|
2,008,982
|
1,814,569
|
||||||||
|
Total Diversified/Conglomerate Manufacturing
|
2,046,000
|
2,008,982
|
1,814,569
|
||||||||||
|
Diversified/Conglomerate Service — 14.77%:
|
|||||||||||||
|
Citrix EM^
|
9.00
|
9/30/2029
|
9,615,000
|
9,485,072
|
9,232,251
|
||||||||
|
Citrix EM^
|
8.25
|
6/30/2032
|
1,259,000
|
1,259,000
|
1,190,791
|
||||||||
|
Engineering Group, 3M EURIBOR + 5.7500%+~
|
7.88
|
2/15/2030
|
427,667
|
385,172
|
403,485
|
||||||||
|
Engineering Group+
|
11.13
|
5/15/2028
|
1,716,445
|
1,627,861
|
1,740,642
|
||||||||
|
Global Infrastructure Solutions, Inc.^
|
7.50
|
4/15/2032
|
6,554,000
|
6,114,887
|
6,829,124
|
||||||||
|
Icahn Enterprises LP
|
9.00
|
6/15/2030
|
10,709,000
|
10,701,980
|
10,000,861
|
||||||||
|
Icahn Enterprises LP^
|
10.00
|
11/15/2029
|
2,377,000
|
2,377,000
|
2,341,686
|
||||||||
|
Jacobs Entertainment Inc^
|
6.75
|
2/15/2029
|
1,000,000
|
951,182
|
926,900
|
||||||||
|
Sabre Global^#
|
10.75
|
3/15/2030
|
4,049,000
|
3,454,148
|
3,396,399
|
||||||||
|
Sabre Holdings Corporation^#
|
10.75
|
11/15/2029
|
1,395,000
|
1,257,198
|
1,191,672
|
||||||||
|
Sinclair Television Group Inc^
|
8.13
|
2/15/2033
|
967,000
|
968,248
|
983,018
|
||||||||
|
Verisure Midholding AB+
|
7.13
|
2/1/2028
|
1,057,608
|
994,381
|
1,075,516
|
||||||||
|
Verisure Midholding+
|
5.25
|
2/15/2029
|
4,132,184
|
4,321,443
|
4,114,318
|
||||||||
|
Total Diversified/Conglomerate Service
|
45,258,904
|
43,897,572
|
43,426,663
|
||||||||||
|
Electricity — 1.45%:
|
|||||||||||||
|
XPLR Infrastructure Operating Partners LP (fka Nextera)^
|
8.38
|
1/15/2031
|
718,000
|
718,000
|
754,947
|
||||||||
|
XPLR Infrastructure Operating Partners LP (fka Nextera)^#
|
8.63
|
3/15/2033
|
3,327,000
|
3,472,674
|
3,508,980
|
||||||||
|
Total Electricity
|
4,045,000
|
4,190,674
|
4,263,927
|
||||||||||
|
Environmental Industries — 0.20%:
|
|||||||||||||
|
Urbaser+
|
10.50
|
7/1/2032
|
560,590
|
564,709
|
594,225
|
||||||||
|
Total Environmental Industries
|
560,590
|
564,709
|
594,225
|
||||||||||
|
Finance — 11.58%:
|
|||||||||||||
|
Advisor Group^
|
8.00
|
8/1/2033
|
631,000
|
631,000
|
620,288
|
||||||||
|
Arrow Global+
|
9.63
|
12/15/2029
|
794,155
|
760,774
|
775,737
|
||||||||
|
Arrow Global, 3M EURIBOR + 5.500%+~
|
7.65
|
12/15/2029
|
865,736
|
760,405
|
839,616
|
||||||||
|
Arrow Global+
|
7.63
|
12/15/2029
|
395,303
|
399,276
|
383,498
|
||||||||
|
Burford Capital^
|
8.50
|
1/15/2034
|
3,000,000
|
2,948,600
|
2,576,160
|
||||||||
|
Burford Capital^
|
7.50
|
7/15/2033
|
948,000
|
948,000
|
791,504
|
||||||||
|
Cable & Wireless Comm Limited+^
|
9.00
|
1/15/2033
|
4,521,000
|
4,597,445
|
4,570,851
|
||||||||
|
CPUK Finance LTD+
|
7.88
|
8/28/2029
|
661,796
|
624,774
|
670,267
|
||||||||
|
Galaxy Bidco Ltd.+
|
8.13
|
12/19/2029
|
833,863
|
803,346
|
852,466
|
||||||||
|
ION Platform Group+
|
6.88
|
9/30/2032
|
1,086,504
|
1,103,610
|
866,723
|
||||||||
|
ION Platform Group+^
|
7.88
|
9/30/2032
|
4,563,000
|
4,533,341
|
3,518,838
|
||||||||
|
Jefferson Capital^
|
9.50
|
2/15/2029
|
3,000,000
|
3,041,479
|
3,147,546
|
||||||||
|
Jefferson Capital^
|
8.25
|
5/15/2030
|
723,000
|
723,000
|
752,171
|
||||||||
|
OneMain Finance Corporation
|
7.88
|
3/15/2030
|
600,000
|
596,478
|
618,193
|
||||||||
|
PRA Group^
|
8.38
|
2/1/2028
|
4,518,000
|
4,390,640
|
4,548,890
|
||||||||
|
PRA Group^#
|
8.88
|
1/31/2030
|
3,000,000
|
3,003,452
|
3,030,058
|
||||||||
|
PRA Group+
|
6.25
|
9/30/2032
|
1,005,594
|
1,021,295
|
951,087
|
||||||||
|
Stonebriar Finance Holdings^
|
8.13
|
12/15/2030
|
1,203,000
|
1,203,000
|
1,242,657
|
||||||||
|
Travelex(3.01%PIK)¤+
|
3.01
|
3/31/2029
|
4,886,783
|
4,842,907
|
3,302,488
|
||||||||
|
Travelex¤+>
|
8.00
|
5/15/2026
|
5,316,936
|
5,097,344
|
0
|
||||||||
|
Total Finance
|
42,553,670
|
42,030,166
|
34,059,038
|
||||||||||
|
Healthcare and Pharmaceuticals — 5.33%:
|
|||||||||||||
|
Advanz Pharma+
|
9.13
|
10/27/2031
|
2,183,926
|
2,131,728
|
2,097,405
|
||||||||
|
Bausch Health Companies Inc.+^#
|
11.00
|
9/30/2028
|
2,250,000
|
2,327,539
|
2,297,812
|
||||||||
|
Bayer+
|
7.00
|
9/25/2083
|
1,040,270
|
1,004,682
|
1,102,807
|
||||||||
|
Grifols+
|
7.13
|
5/1/2030
|
1,259,883
|
1,143,841
|
1,302,327
|
||||||||
|
Neopharmed+
|
7.13
|
4/8/2030
|
265,847
|
248,989
|
271,317
|
||||||||
|
Radiology Partners^
|
8.50
|
7/15/2032
|
3,196,000
|
3,196,000
|
3,240,329
|
||||||||
|
Team Health (4.50% PIK)^
|
13.50
|
6/30/2028
|
3,074,834
|
3,322,316
|
3,174,766
|
||||||||
|
Team Health^
|
8.38
|
6/30/2028
|
2,224,000
|
2,230,735
|
2,195,991
|
||||||||
|
Total Healthcare and Pharmaceuticals
|
15,494,760
|
15,605,830
|
15,682,754
|
||||||||||
|
Healthcare, Education and Childcare — 9.57%:
|
|||||||||||||
|
Bausch Health Companies Inc.+^
|
14.00
|
10/15/2030
|
118,000
|
142,164
|
112,644
|
||||||||
|
CHS/Community Health Systems Inc^
|
9.75
|
1/15/2034
|
905,000
|
905,000
|
939,676
|
||||||||
|
Community Health System Inc.^
|
10.88
|
1/15/2032
|
3,609,000
|
3,693,092
|
3,871,205
|
||||||||
|
Community Health System Inc.^
|
6.88
|
4/15/2029
|
286,000
|
286,000
|
275,022
|
||||||||
|
Fortrea^
|
7.50
|
7/1/2030
|
1,514,000
|
1,412,096
|
1,434,818
|
||||||||
|
LifePoint Health Inc.^
|
9.88
|
8/15/2030
|
2,140,000
|
2,138,189
|
2,262,827
|
||||||||
|
LifePoint Health Inc.^
|
11.00
|
10/15/2030
|
3,057,000
|
3,100,444
|
3,287,727
|
||||||||
|
LifePoint Health Inc.^#
|
10.00
|
6/1/2032
|
5,019,000
|
5,053,289
|
5,122,065
|
||||||||
|
Neogen Corporation^
|
8.63
|
7/20/2030
|
2,636,000
|
2,661,676
|
2,769,202
|
||||||||
|
Radiology Partners Inc. (9.78% PIK)^
|
9.78
|
2/15/2030
|
7,677,229
|
7,878,158
|
7,010,212
|
||||||||
|
Star Parent Inc^
|
9.00
|
10/1/2030
|
1,000,000
|
1,029,527
|
1,040,003
|
||||||||
|
Total Healthcare, Education and Childcare
|
27,961,229
|
|
28,299,635
|
|
28,125,401
|
||||||||
|
High Tech Industries — 3.35%:
|
|||||||||||||
|
Athenahealth, Inc.+
|
9.36
|
12/18/2029
|
2,570,656
|
2,801,113
|
2,898,147
|
||||||||
|
Hughes Satellite Systems Corp
|
10.75
|
11/30/2029
|
5,712,000
|
6,049,741
|
6,170,392
|
||||||||
|
McAfee^#
|
7.38
|
2/15/2030
|
943,000
|
822,793
|
779,046
|
||||||||
|
Total High Tech Industries
|
9,225,656
|
9,673,647
|
9,847,585
|
||||||||||
|
Home and Office Furnishings, Housewares, and Durable Consumer Products — 0.87%:
|
|||||||||||||
|
Staples Inc.^
|
10.75
|
9/1/2029
|
939,000
|
930,183
|
867,657
|
||||||||
|
Staples Inc.^#
|
12.75
|
1/15/2030
|
2,481,633
|
2,516,603
|
1,681,859
|
||||||||
|
Total Home and Office Furnishings, Housewares, and Durable Consumer Products
|
3,420,633
|
3,446,786
|
2,549,516
|
||||||||||
|
Hotels, Motels, Inns and Gaming — 2.19%:
|
|||||||||||||
|
Betclic
|
5.13
|
12/10/2031
|
358,315
|
363,304
|
354,131
|
||||||||
|
Full House Resorts^
|
8.25
|
2/15/2028
|
2,600,000
|
2,575,224
|
2,366,000
|
||||||||
|
Motel One+
|
7.75
|
4/2/2031
|
924,684
|
914,253
|
958,939
|
||||||||
|
Six Flags Entertainment Corporation (fka Cedar Fair)^
|
8.63
|
1/15/2032
|
277,000
|
277,000
|
277,651
|
||||||||
|
TUI Cruises+
|
6.25
|
4/15/2029
|
404,549
|
376,057
|
408,625
|
||||||||
|
Voyager Parent LLC (fka IGT/Everi)^
|
9.25
|
7/1/2032
|
1,987,000
|
1,987,000
|
2,062,893
|
||||||||
|
Total Hotels, Motels, Inns and Gaming
|
6,551,548
|
6,492,838
|
6,428,239
|
||||||||||
|
Leisure, Amusement, Entertainment — 0.49%:
|
|||||||||||||
|
Ontario Gaming GTA LP+^
|
8.00
|
8/1/2030
|
743,000
|
747,771
|
711,067
|
||||||||
|
Silk TopCo AS+
|
7.00
|
2/12/2030
|
992,401
|
864,378
|
715,149
|
||||||||
|
Total Leisure, Amusement, Entertainment
|
1,735,401
|
|
1,612,149
|
|
1,426,216
|
||||||||
|
Machinery (Non-Agriculture, Non-Construct, Non-Electronic) — 0.53%:
|
|||||||||||||
|
Copeland
|
6.38
|
12/15/2030
|
1,537,288
|
1,489,964
|
1,564,762
|
||||||||
|
Total Machinery (Non-Agriculture, Non-Construct, Non-Electronic)
|
1,537,288
|
1,489,964
|
1,564,762
|
||||||||||
|
Media: Broadcasting & Subscription — 3.49%:
|
|||||||||||||
|
Electronic Arts^
|
8.75
|
7/1/2034
|
2,213,000
|
2,254,250
|
2,319,519
|
||||||||
|
E.W. Scripps^
|
9.88
|
8/15/2030
|
600,000
|
601,975
|
583,302
|
||||||||
|
iHeartMedia^#
|
7.75
|
8/15/2030
|
342,000
|
296,690
|
271,330
|
||||||||
|
iHeartMedia^
|
4.75
|
1/15/2028
|
1,100,000
|
1,023,223
|
986,129
|
||||||||
|
Nielsen^
|
10.38
|
5/15/2031
|
1,000,000
|
1,003,400
|
1,008,170
|
||||||||
|
Nielsen^
|
9.50
|
2/15/2033
|
3,781,000
|
3,748,361
|
3,668,053
|
||||||||
|
Nielsen^
|
9.29
|
4/15/2029
|
1,411,000
|
1,368,717
|
1,413,434
|
||||||||
|
Total Media: Broadcasting & Subscription
|
10,447,000
|
10,296,616
|
10,249,937
|
||||||||||
|
Media: Diversified & Production — 0.30%:
|
|||||||||||||
|
Banijay+
|
7.00
|
5/1/2029
|
577,928
|
613,283
|
592,464
|
||||||||
|
Eutelsat+
|
5.75
|
3/15/2031
|
294,743
|
301,052
|
295,342
|
||||||||
|
Total Media: Diversified & Production
|
872,671
|
914,335
|
887,806
|
||||||||||
|
Mining, Steel, Iron and Non-Precious Metals — 0.71%:
|
|||||||||||||
|
First Quantum Minerals Ltd+^
|
8.00
|
3/1/2033
|
1,990,000
|
1,990,000
|
2,074,251
|
||||||||
|
Total Mining, Steel, Iron and Non-Precious Metals
|
1,990,000
|
1,990,000
|
2,074,251
|
||||||||||
|
Oil and Gas — 9.81%:
|
|||||||||||||
|
Breakwater+^
|
9.25
|
11/15/2030
|
1,089,000
|
1,089,000
|
1,143,581
|
||||||||
|
Civitas Resources Inc^
|
8.75
|
7/1/2031
|
1,483,000
|
1,488,627
|
1,549,731
|
||||||||
|
Civitas Resources Inc^
|
9.63
|
6/15/2033
|
2,000,000
|
2,051,863
|
2,210,322
|
||||||||
|
CVR Energy, Inc.^
|
7.50
|
2/15/2031
|
990,000
|
990,000
|
997,396
|
||||||||
|
CVR Energy, Inc.^
|
7.88
|
2/15/2034
|
1,460,000
|
1,460,000
|
1,464,756
|
||||||||
|
Genesis Energy LP
|
8.88
|
4/15/2030
|
1,000,000
|
985,500
|
1,044,180
|
||||||||
|
Genesis Energy LP
|
8.00
|
5/15/2033
|
773,000
|
773,000
|
798,643
|
||||||||
|
Harbour Energy+
|
6.12
|
8/8/2174
|
1,021,776
|
1,006,113
|
1,026,681
|
||||||||
|
Harvest Midstream I LP^
|
7.50
|
5/15/2032
|
3,265,000
|
3,305,390
|
3,324,668
|
||||||||
|
NGL Energy Finance Corp.^
|
8.13
|
2/15/2029
|
621,000
|
621,000
|
639,616
|
||||||||
|
NGL Energy Finance Corp.^
|
8.38
|
2/15/2032
|
2,274,000
|
2,274,000
|
2,342,206
|
||||||||
|
Sunoco LP^
|
7.88
|
3/18/2175
|
7,552,000
|
7,587,188
|
7,707,662
|
||||||||
|
Var Energi+
|
7.86
|
11/15/2083
|
1,140,829
|
1,077,477
|
1,230,450
|
||||||||
|
Venture Global LNG Inc^#
|
9.00
|
3/30/2175
|
2,100,000
|
2,081,625
|
2,090,362
|
||||||||
|
Viridien+
|
8.50
|
10/15/2030
|
219,479
|
207,363
|
230,321
|
||||||||
|
Viridien+^#
|
10.00
|
10/15/2030
|
982,000
|
973,856
|
1,044,600
|
||||||||
|
Weatherford Intl Ltd Bermuda Sr Glbl+^
|
8.63
|
4/30/2030
|
1,000
|
1,010
|
1,019
|
||||||||
|
Total Oil and Gas
|
27,972,084
|
27,973,012
|
28,846,194
|
||||||||||
|
Personal, Food, and Miscellaneous — 0.51%:
|
|||||||||||||
|
Herbalife^
|
12.25
|
4/15/2029
|
1,418,000
|
1,447,562
|
1,512,090
|
||||||||
|
Total Personal, Food, and Miscellaneous
|
1,418,000
|
1,447,562
|
1,512,090
|
||||||||||
|
Personal Transportation — 1.06%:
|
|||||||||||||
|
JetBlue^
|
9.88
|
9/20/2031
|
3,011,000
|
2,992,261
|
2,847,120
|
||||||||
|
Naviera Armas, 3M EURIBOR + 12.7500% (12.75% PIK)+
|
13.94
|
12/31/2026
|
355,382
|
370,418
|
273,644
|
||||||||
|
Total Personal Transportation
|
3,366,382
|
3,362,679
|
3,120,764
|
||||||||||
|
Retail Store — 0.72%:
|
|||||||||||||
|
Afflelou+
|
6.00
|
7/25/2029
|
416,108
|
393,714
|
423,042
|
||||||||
|
Boots
|
7.38
|
8/31/2032
|
225,011
|
228,038
|
223,463
|
||||||||
|
Motor Fuel Group+
|
8.63
|
4/30/2029
|
724,005
|
749,107
|
736,037
|
||||||||
|
Ocado Group PLC+
|
10.50
|
8/8/2029
|
757,094
|
712,220
|
745,109
|
||||||||
|
Total Retail Store
|
2,122,218
|
2,083,079
|
2,127,651
|
||||||||||
|
Services: Business — 1.61%:
|
|||||||||||||
|
Modulaire Group+
|
6.75
|
11/30/2029
|
780,202
|
667,119
|
533,520
|
||||||||
|
Opifex-Synergy^
|
7.88
|
12/1/2030
|
327,000
|
327,000
|
333,444
|
||||||||
|
Sabre Global^
|
11.13
|
7/15/2030
|
1,065,000
|
1,065,000
|
902,587
|
||||||||
|
Sabre Global^
|
11.13
|
6/15/2029
|
2,884,000
|
2,867,962
|
2,950,545
|
||||||||
|
Total Services: Business
|
5,056,202
|
4,927,081
|
4,720,096
|
||||||||||
|
Services: Consumer — 0.79%:
|
|||||||||||||
|
Asurion^
|
8.38
|
2/1/2034
|
1,176,000
|
1,180,970
|
1,139,407
|
||||||||
|
Asurion^
|
8.00
|
12/31/2032
|
945,000
|
951,882
|
978,767
|
||||||||
|
Travelex¤+
|
15.00
|
12/31/2028
|
191,730
|
195,308
|
191,730
|
||||||||
|
Total Services: Consumer
|
2,312,730
|
2,328,160
|
2,309,904
|
||||||||||
|
Telecommunications — 10.85%:
|
|||||||||||||
|
Altice France+^
|
9.50
|
11/1/2029
|
1,682,549
|
1,682,549
|
1,699,827
|
||||||||
|
Brightspeed^
|
10.50
|
4/3/2031
|
920,000
|
903,987
|
908,389
|
||||||||
|
Consolidated Communications Hldgs.+
|
7.75
|
1/24/2033
|
866,892
|
925,347
|
971,948
|
||||||||
|
Digicel Limited ¤+^>
|
8.25
|
9/30/2026
|
2,500,000
|
2,491,364
|
0
|
||||||||
|
Digicel+^
|
8.63
|
8/1/2032
|
3,219,000
|
3,270,116
|
3,274,364
|
||||||||
|
Iliad Holding+^
|
8.50
|
4/15/2031
|
385,000
|
385,000
|
402,738
|
||||||||
|
Iliad Holding+
|
6.88
|
4/15/2031
|
635,721
|
586,961
|
662,288
|
||||||||
|
LCPR Senior Secured Financing+^
|
6.75
|
10/15/2027
|
2,000,000
|
1,915,144
|
1,334,371
|
||||||||
|
Level III^#
|
8.50
|
1/15/2036
|
4,115,667
|
4,244,132
|
4,293,504
|
||||||||
|
Ocado+
|
11.00
|
6/15/2030
|
1,588,310
|
1,599,709
|
1,583,623
|
||||||||
|
Optics+
|
7.88
|
7/31/2028
|
409,173
|
381,301
|
437,988
|
||||||||
|
United Group+
|
6.75
|
2/15/2031
|
1,155,856
|
1,087,950
|
1,162,505
|
||||||||
|
United Group+
|
6.50
|
10/31/2031
|
1,429,793
|
1,342,976
|
1,408,435
|
||||||||
|
Uniti Group Inc.^#
|
8.63
|
6/15/2032
|
2,013,000
|
2,053,093
|
2,050,481
|
||||||||
|
Uniti Group Inc.^
|
8.63
|
6/15/2032
|
7,406,000
|
7,317,061
|
7,543,897
|
||||||||
|
Virgin Media O2+^
|
8.50
|
3/15/2033
|
2,000,000
|
2,000,000
|
1,744,217
|
||||||||
|
Vodafone Group PLC+
|
8.00
|
8/30/2086
|
926,514
|
993,206
|
969,436
|
||||||||
|
Windstream^
|
8.25
|
10/1/2031
|
431,000
|
444,774
|
450,329
|
||||||||
|
Zayo Group^
|
5.75
|
3/9/2030
|
1,000,000
|
981,612
|
994,140
|
||||||||
|
Total Telecommunications
|
34,684,475
|
34,606,282
|
31,892,480
|
||||||||||
|
Utilities — 1.42%:
|
|||||||||||||
|
Electricite de France SA+#
|
9.13
|
12/15/2174
|
600,000
|
632,500
|
694,434
|
||||||||
|
Enbridge Inc.+#
|
7.38
|
1/15/2083
|
1,749,000
|
1,724,951
|
1,774,635
|
||||||||
|
Enbridge Inc.+
|
8.25
|
1/15/2084
|
1,624,000
|
1,624,000
|
1,712,740
|
||||||||
|
Total Utilities
|
3,973,000
|
3,981,451
|
4,181,809
|
||||||||||
|
Total Corporate Bonds
|
350,596,452
|
347,038,967
|
333,498,471
|
||||||||||
|
Total Fixed Income
|
431,668,133
|
426,729,614
|
399,983,635
|
||||||||||
|
Total Investments
|
$
|
429,588,921
|
$
|
400,268,237
|
|||||||||
|
Other assets and liabilities — (36.13%)
|
|||||||||||||
|
(106,226,883)
|
|||||||||||||
|
Net Assets — 100.00%
|
$
|
294,041,354
|
|||||||||||
|
Percentages are calculated as a percent of net assets applicable to common shareholders.
|
|||||||||||||
|
EURIBOR - Euro Interbank Offered Rate
|
|||||||||||||
|
SOFR - Secured Overnight Financing Rate
|
|||||||||||||
|
*
|
Securities are non-income producing.
|
||||||||||||
|
‡
|
The effective interest rates are based on settled commitment amount.
|
||||||||||||
|
§
|
Bank loans are exempt from registration under the Securities Act of 1933, as amended, but contain certain restrictions on resale and cannot be sold publicly. These loans pay interest at rates which adjust periodically. The interest rates
shown for bank loans are the current interest rates at March 31, 2026. Bank loans are also subject to mandatory and/or optional prepayment which cannot be predicted. As a result, the remaining maturity may be substantially less than the
stated maturity shown.
|
||||||||||||
|
¤
|
Value determined using significant unobservable inputs, security is categorized as Level 3.
|
||||||||||||
|
+
|
Foreign security.
|
||||||||||||
|
^
|
Security exempt from registration under Rule 144a of the Securities Act of 1933. These securities may only be resold in transactions exempt from registration, normally to qualified institutional buyers.
|
||||||||||||
|
~
|
Variable rate security. The interest rate shown is the rate in effect at March 31, 2026.
|
||||||||||||
|
#
|
All or a portion of the security is segregated as collateral for the credit facility.
|
||||||||||||
|
>
|
Defaulted security.
|
||||||||||||
|
PIK
|
Payment-in-kind
|
||||||||||||
|
**
|
A portion of these securities contain unfunded commitments. As of March 31, 2026, total value of unfunded commitments amounted to $132,734 and had net unrealized depreciation of $(15,055) or (0.00)% of net assets.
|
||||||||||||
|
Distributions of investments by country of risk. Percentage of assets are expressed by market value excluding cash and accrued income as of March 31, 2026.
|
|||||||||||||
|
United States of America
|
83.6%
|
||||||||||||
|
France
|
3.0%
|
||||||||||||
|
United Kingdom
|
3.0%
|
||||||||||||
|
Sweden
|
1.6%
|
||||||||||||
|
Germany
|
1.6%
|
||||||||||||
|
Panama
|
1.1%
|
||||||||||||
|
Canada
|
1.0%
|
||||||||||||
|
(Individually less than 1%)
|
5.1%
|
||||||||||||
|
100.0%
|
|||||||||||||
|
A summary of outstanding derivatives at March 31, 2026 is as follows:
|
||||||||||||
|
Schedule of Open Forward Foreign Exchange Contracts
|
||||||||||||
|
March 31, 2026
|
||||||||||||
|
Forward
|
Unrealized
|
|||||||||||
|
Currency to be
|
Currency to be
|
Counterparty of
|
Settlement
|
Appreciation /
|
||||||||
|
Received
|
Delivered(1)
|
|
Contract
|
Date
|
(Depreciation)
|
|||||||
|
38,459,669
|
USD
|
38,289,148
|
EUR
|
CIBC
|
170,521
|
|||||||
|
13,818,186
|
USD
|
13,614,447
|
GBP
|
CIBC
|
203,738
|
|||||||
|
$
|
374,259
|
|||||||||||
|
(1) Values are listed in U.S. dollars.
|
||||||||||||
|
Description
|
Level 1
|
Level 2
|
Level 3
|
Total Investments
|
||||||||||||
|
Assets:
|
||||||||||||||||
|
Equities:
|
||||||||||||||||
|
Common Stocks
|
$
|
-
|
$
|
163,952
|
$
|
120,650
|
$
|
284,602
|
||||||||
|
Warrants
|
-
|
-
|
-
|
-
|
||||||||||||
|
Total Equities:
|
-
|
163,952
|
120,650
|
284,602
|
||||||||||||
|
Fixed Income:
|
||||||||||||||||
|
Asset-Backed Securities
|
-
|
24,173,939
|
-
|
24,173,939
|
||||||||||||
|
Bank Loans
|
-
|
38,365,282
|
3,945,943
|
42,311,225
|
||||||||||||
|
Convertible Bonds
|
-
|
-
|
-
|
-
|
||||||||||||
|
Corporate Bonds
|
-
|
330,004,253
|
3,494,218
|
333,498,471
|
||||||||||||
|
Total Fixed Income
|
-
|
392,543,474
|
7,440,161
|
399,983,635
|
||||||||||||
|
Short Term Investments:
|
||||||||||||||||
|
Insurance
|
-
|
-
|
-
|
-
|
||||||||||||
|
Total Short Term Investments
|
-
|
-
|
-
|
-
|
||||||||||||
|
Forward Foreign Exchange Contracts
|
-
|
374,259
|
-
|
374,259
|
||||||||||||
|
Total Assets:
|
$
|
-
|
$
|
393,081,685
|
$
|
7,560,811
|
$
|
400,642,496
|
||||||||
|
Liabilities:
|
||||||||||||||||
|
Forward Foreign Exchange Contracts:
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
||||||||
|
Total Liabilities:
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
||||||||
|
Type of Assets
|
Fair Value as of
March 31, 2026
|
Valuation Technique(s)
|
Unobservable Input
|
|||
|
Bank Loans:
|
||||||
|
J&J Ventures Gaming
|
1,979,040
|
Yield Analysis
|
9.1%; Market Yield
|
|||
|
The Fidelis Partnership
|
1,966,903
|
Yield Analysis
|
9.3%; Market Yield
|
|||
|
Corporate Bonds:
|
||||||
|
Travelex
|
191,730
|
Market Approach
|
5.66x; NCY EBITDA Multiple
|
|||
|
Travelex
|
3,302,488
|
Market Approach
|
5.66x; NCY EBITDA Multiple
|
|||
|
$
|
7,440,161
|
|||||
|
|
BALANCE AT DECEMBER 31, 2025
|
TRANSFERS INTO LEVEL 3
|
TRANSFERS OUT OF LEVEL 3
|
PURCHASES
|
SALES
|
ACCRETION OF DISCOUNT
|
REALIZED GAIN / (LOSS)
|
CHANGE IN UNREALIZED APPRECIATION / (DEPRECIATION) ON INVESTMENTS
|
BALANCE AT March 31, 2026
|
CHANGE IN UNREALIZED APPRECIATION / (DEPRECIATION) FROM INVESTMENTS HELD AS OF March 31, 2026
|
||||||||||||||||||||||||||||||
|
Equities
|
||||||||||||||||||||||||||||||||||||||||
|
Cohesity
|
88,243
|
-
|
-
|
-
|
-
|
-
|
-
|
(16,898
|
)
|
71,345
|
(16,898
|
)
|
||||||||||||||||||||||||||||
|
Cohesity
|
59,685
|
-
|
-
|
-
|
-
|
-
|
-
|
(10,380
|
)
|
49,305
|
(10,380
|
)
|
||||||||||||||||||||||||||||
|
ESC CB 144A High Ridge
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||||||||||||||
|
Flint Group Ordinary A Shares Stapled to 2L
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||||||||||||||
|
Naviera Armas
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||||||||||||||
|
Travelex Private Equity Stapled to 12.5% New Money Notes
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||||||||||||||
|
Common Stocks
|
147,928
|
-
|
-
|
-
|
-
|
-
|
-
|
(27,278
|
)
|
120,650
|
(27,278
|
)
|
||||||||||||||||||||||||||||
|
Travelex Topco Limited
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||||||||||||||
|
Warrants
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||||||||||||||
|
Total Equities
|
147,928
|
-
|
-
|
-
|
-
|
-
|
-
|
(27,278
|
)
|
120,650
|
(27,278
|
)
|
||||||||||||||||||||||||||||
|
Bank Loans
|
||||||||||||||||||||||||||||||||||||||||
|
Aspen Insurance Holdings LTD.
|
2,900,771
|
-
|
-
|
-
|
(2,900,771
|
)
|
-
|
27,657
|
(27,657
|
)
|
-
|
-
|
||||||||||||||||||||||||||||
|
Aspen Insurance Holdings LTD.
|
4,744,755
|
-
|
-
|
-
|
(4,744,755
|
)
|
1,540
|
32,834
|
(34,374
|
)
|
-
|
-
|
||||||||||||||||||||||||||||
|
J&J Ventures Gaming
|
1,980,000
|
-
|
-
|
-
|
(5,000
|
)
|
834
|
44
|
3,162
|
1,979,040
|
3,162
|
|||||||||||||||||||||||||||||
|
The Fidelis Partnership
|
1,976,465
|
-
|
-
|
-
|
(10,000
|
)
|
-
|
50
|
388
|
1,966,903
|
388
|
|||||||||||||||||||||||||||||
|
Bank Loans
|
11,601,991
|
-
|
-
|
-
|
(7,660,526
|
)
|
2,374
|
60,585
|
(58,481
|
)
|
3,945,943
|
3,550
|
||||||||||||||||||||||||||||
|
Corporate Bonds
|
||||||||||||||||||||||||||||||||||||||||
|
Digicel Limited
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||||||||||||||
|
Travelex
|
185,500
|
-
|
-
|
9,801
|
-
|
-
|
-
|
(3,571
|
)
|
191,730
|
(3,571
|
)
|
||||||||||||||||||||||||||||
|
Travelex
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||||||||||||||
|
Travelex
|
3,338,011
|
-
|
-
|
37,514
|
-
|
1,903
|
-
|
(74,940
|
)
|
3,302,488
|
(74,940
|
)
|
||||||||||||||||||||||||||||
|
Corporate Bonds
|
3,523,511
|
-
|
-
|
47,315
|
-
|
1,903
|
-
|
(78,511
|
)
|
3,494,218
|
(78,511
|
)
|
||||||||||||||||||||||||||||
|
Total
|
$
|
15,273,430
|
$
|
-
|
$
|
-
|
$
|
47,315
|
$
|
(7,660,526
|
)
|
$
|
4,277
|
$
|
60,585
|
$
|
(164,270
|
)
|
$
|
7,560,811
|
$
|
(102,239
|
)
|
|||||||||||||||||