PORTFOLIO
OF
INVESTMENTS
as
of
November
30,
2025
(Unaudited)
Principal
Amount
†
RA
Value
Percentage
of
Net
Assets
SENIOR
LOANS
*
:
73.2%
Auto
Components
:
0.5%
222,961
Holley
Purchaser,
Inc.,
Initial
Term
Loan,
7.780%,
(TSFR1M+3.750%),
11/17/2028
$
221,902
0.2
224,930
RC
Buyer
Inc.,
First
Lien
Initial
Term
Loan,
7.530%,
(TSFR1M+3.614%),
07/28/2028
223,055
0.3
444,957
0.5
Basic
Materials
:
1.8%
243,163
A-AP
Buyer,
Inc.,
Initial
Term
Loan,
6.752%,
(TSFR3M+2.750%),
09/09/2031
243,770
0.3
179,919
Ineos
Quattro
Holdings
UK
Limited,
2031
Tranche
B
Dollar
Term
Loan,
8.166%,
(TSFR1M+4.250%),
10/07/2031
134,040
0.1
138,926
Paint
Intermediate
III
LLC,
Paint
Intermediate/
Wesco
Group
Cov-Lite
Term
Loan
B,
6.870%,
(TSFR3M+3.000%),
10/09/2031
139,186
0.2
395,000
Qnity
Electronics,
Inc.,
Term
Loan
B,
5.698%,
(TSFR6M+2.000%),
11/01/2032
396,852
0.4
240,000
Solstice
Advanced
Materials
Inc.,
Term
B
Loan,
5.593%,
(TSFR3M+1.750%),
10/29/2032
241,500
0.3
328,338
Sparta
US
HoldCo
LLC,
Initial
Term
Loan,
6.984%,
(TSFR1M+3.000%),
08/02/2030
322,182
0.3
22,885
(1)(2)
USALCO
LLC,
2025
Delayed
Draw
Term
Loan,
09/30/2031
22,985
0.0
220,452
USALCO
LLC,
2025
Initial
Term
Loan,
7.416%,
(TSFR1M+3.500%),
09/30/2031
221,417
0.2
1,721,932
1.8
Building
&
Development
:
0.2%
222,764
Cornerstone
Building
Brands
Inc.,
New
Term
Loan
B,
7.309%,
(TSFR1M+3.350%),
04/12/2028
180,438
0.2
Principal
Amount†
Value
Percentage
of
Net
Assets
SENIOR
LOANS
*
:
(continued)
Business
Equipment
&
Services
:
0.5%
426,671
Ensono
LP,
First
Lien
Initial
Term
Loan,
8.030%,
(TSFR1M+4.114%),
05/26/2028
$
427,852
0.5
Communications
:
4.0%
406,694
Arches
Buyer
Inc.,
Refinancing
Term
Loan,
7.266%,
(TSFR1M+3.350%),
12/06/2027
407,993
0.4
237,188
Cengage
Learning
Inc.,
2024
Refinancing
Term
Loans,
7.322%,
(TSFR3M+3.500%),
03/22/2031
236,052
0.3
274,311
CNT
Holdings
I
Corp,
2025
Replacement
Term
Loans,
6.090%,
(TSFR3M+2.250%),
11/08/2032
274,997
0.3
295,000
(1)
Creative
Artists
Agency,
LLC,
Add-On
Tl,
10/01/2031
295,891
0.3
301,950
Crown
Subsea
Communications
Holding
Inc.,
2025
Term
Loan,
7.416%,
(TSFR1M+3.500%),
01/30/2031
304,403
0.3
268,043
Dotdash
Meredith,
Inc.,
Term
B-2
Loan,
7.484%,
(TSFR1M+3.500%),
06/17/2032
231,746
0.2
148,875
GoodRX
Inc.,
2024
Term
Loan,
7.666%,
(TSFR1M+3.750%),
07/10/2029
149,340
0.2
277,209
Magnite
Inc.,
Amendment
2
Initial
Term
Loan,
6.916%,
(TSFR1M+3.000%),
02/06/2031
277,209
0.3
232,328
McGraw-Hill
Education
Inc.,
Term
Loan
B
(2025),
6.766%,
(TSFR1M+2.850%),
08/06/2031
233,634
0.2
295,975
MH
Sub
I
LLC,
2023
May
New
Term
Loans,
8.252%,
(TSFR3M+4.250%),
05/03/2028
268,720
0.3
444,035
Proofpoint
Inc.,
2024
Refinancing
Term
Loan,
6.916%,
(TSFR1M+3.000%),
08/31/2028
446,441
0.5
PORTFOLIO
OF
INVESTMENTS
as
of
November
30,
2025
(Unaudited)
(continued)
Principal
Amount†
Value
Percentage
of
Net
Assets
SENIOR
LOANS
*
:
(continued)
Communications:
(continued)
245,000
Sunrise
HoldCo
III
BV
(f/k/a
UPC
Broadband
Holding
BV),
Facility
AAA1,
6.426%,
(TSFR3M+2.500%),
02/15/2032
$
245,510
0.3
327,147
TripAdvisor
Inc.,
Initial
Term
B
Loan,
6.666%,
(TSFR1M+2.750%),
07/08/2031
315,151
0.3
126,927
Zayo
Group
Holdings
Inc.,
Dollar
Term
Loan,
7.030%,
(TSFR1M+3.115%),
03/11/2030
120,128
0.1
3,807,215
4.0
Consumer,
Cyclical
:
10.9%
270,000
(1)
Allison
Transmission
Inc.,
Term
Loan
B,
11/05/2032
271,254
0.3
380,446
Alterra
Mountain
Company,
Term
Loan
B-8,
6.416%,
(TSFR1M+2.500%),
05/31/2030
381,397
0.4
70,276
American
Airlines
Inc.,
Repriced
Term
Loan,
6.134%,
(TSFR3M+2.250%),
04/20/2028
70,339
0.1
332,049
American
Greetings
Corporation,
Tranche
C
Term
Loan,
9.666%,
(TSFR1M+5.750%),
10/30/2029
328,313
0.3
264,530
Aramark
Services
Inc.,
Us
Term
B-8
Loan,
5.916%,
(TSFR1M+2.000%),
06/22/2030
265,853
0.3
199,500
Bombardier
Recreational
Products
Inc.,
2023
Replacement
Term
Loan,
6.166%,
(TSFR1M+2.250%),
12/13/2029
200,331
0.2
585,000
Boots
Group
FInc.o
LP,
Closing
Date
Dollar
Term
Loan,
7.416%,
(TSFR1M+3.500%),
08/30/2032
589,113
0.6
312,807
Cinemark
USA
Inc.,
Term
Loan,
6.252%,
(TSFR3M+2.250%),
05/24/2030
313,736
0.3
Principal
Amount†
Value
Percentage
of
Net
Assets
SENIOR
LOANS
*
:
(continued)
Consumer,
Cyclical:
(continued)
146,625
City
Football
Group
Limited,
Term
Loan,
7.030%,
(TSFR1M+3.115%),
07/21/2030
$
146,885
0.1
366,732
Crown
Finance
US
Inc.,
Term
Loan
B,
8.484%,
(TSFR1M+4.500%),
12/02/2031
366,999
0.4
130,321
Dealer
Tire
Financial
LLC,
Term
Loan
B5,
6.916%,
(TSFR1M+3.000%),
07/02/2031
128,692
0.1
372,323
Flynn
Restaurant
Group
LP,
Series
2025
Term
Loans,
7.666%,
(TSFR1M+3.750%),
01/28/2032
373,672
0.4
99,500
Gategroup
Finance,
Senior
Facility
B
(USD)
Loan,
8.234%,
(TSFR1M+4.250%),
06/10/2032
99,562
0.1
301,958
Golden
State
Foods
LLC,
Initial
Term
Loans,
8.002%,
(TSFR3M+4.000%),
12/04/2031
303,618
0.3
467,779
Great
Outdoors
Group
LLC,
Term
B-3
Loan,
7.166%,
(TSFR1M+3.250%),
01/23/2032
469,143
0.5
218,900
Hanesbrands
Inc.,
Term
Loan
B,
6.666%,
(TSFR1M+2.750%),
03/07/2032
220,268
0.2
178,650
Highline
AfterMarket
Acquisition
LLC,
2025-1
Term
Loan,
7.322%,
(TSFR3M+3.500%),
02/13/2030
179,097
0.2
200,000
(1)
Hni
Corporation,
Term
Loan
B,
11/19/2032
200,500
0.2
277,900
Hunter
Douglas
Holding
BV,
Tranche
B-1
Term
Loan,
7.252%,
(TSFR3M+3.250%),
01/20/2032
278,838
0.3
740,000
(1)
IRB
Holding
Corp,
2025
Replacement
Term
B
Loan,
12/16/2030
740,810
0.8
280,000
Kingpin
Intermediate
Holdings
LLC,
2025
1st
Lien
TLB,
7.166%,
(TSFR1M+3.250%),
09/22/2032
270,025
0.3
PORTFOLIO
OF
INVESTMENTS
as
of
November
30,
2025
(Unaudited)
(continued)
Principal
Amount†
Value
Percentage
of
Net
Assets
SENIOR
LOANS
*
:
(continued)
Consumer,
Cyclical:
(continued)
270,000
LBM
Acquisition
LLC,
Amendment
No
4
Incremental
Term
loan,
8.960%,
(TSFR1M+5.000%),
06/06/2031
$
268,144
0.3
331,650
Lc
Ahab
Us
Bidco
LLC,
Initial
Term
Loan,
6.916%,
(TSFR1M+3.000%),
05/01/2031
333,516
0.3
204,411
LS
Group
OPCO
Acquisition
LLC,
Term
Loan
B,
6.322%,
(TSFR3M+2.500%),
04/23/2031
204,411
0.2
100,000
MillerKnoll
Inc.
f/k/a/
Herman
Miller
Inc.,
2025
Term
B
Loan,
6.166%,
(TSFR1M+2.250%),
08/09/2032
100,125
0.1
267,975
Peer
Holding
III
BV,
Term
Loan
B5b,
6.502%,
(TSFR3M+2.500%),
07/01/2031
269,064
0.3
360,000
Raising
Canes
Restaurants
LLC,
First
Amendment
New
Term
Loan,
5.984%,
(TSFR1M+2.000%),
10/24/2032
360,405
0.4
435,000
Samsonite
International
SA,
Term
Loan
B,
5.666%,
(TSFR1M+1.750%),
10/29/2032
437,175
0.5
326,675
Scientific
Games
Holdings
LP,
2024
Refi
Dollar
Term
Loan,
6.934%,
(TSFR3M+3.000%),
04/04/2029
321,285
0.3
282,589
Showtime
Acquisition
LLC,
Initial
Term
Loan,
8.628%,
(TSFR3M+4.750%),
08/13/2031
279,410
0.3
370,000
SKECHERS
U.S.A.
Inc.
(Beach
Acquisition
Bidco),
Tranche
B-1
Term
Loan,
7.308%,
(TSFR3M+3.250%),
09/12/2032
372,890
0.4
189,525
UFC
Holdings
LLC
(Zuffa)/TKO
Group,
Term
B-5
Loan,
5.868%,
(TSFR3M+2.000%),
11/21/2031
190,360
0.2
Principal
Amount†
Value
Percentage
of
Net
Assets
SENIOR
LOANS
*
:
(continued)
Consumer,
Cyclical:
(continued)
490,000
Weber
Stephen
Products
LLC,
Initial
Term
B
Loans,
7.735%,
(TSFR3M+3.750%),
10/01/2032
$
490,000
0.5
634,391
White
Cap
Supply
Holdings
LLC(f/k/a
White
Cap
Buyer
LLC),
Tranche
C
Term
Loan,
7.215%,
(TSFR1M+3.250%),
10/19/2029
637,058
0.7
10,462,288
10.9
Consumer,
Non-cyclical
:
14.2%
14,600
ADMI
Corp,
Amendment
No
5
Term
Loan,
7.780%,
(TSFR1M+3.864%),
12/23/2027
13,715
0.0
370,000
AlixPartners
LLP,
2025
Refinanced
Dollar
Term
Loan,
5.916%,
(TSFR1M+2.000%),
08/12/2032
370,185
0.4
370,000
Allied
Universal
Holdco
LLC,
Amendment
7
Replacement
U.S.
Dollar
Term
Loan,
7.266%,
(TSFR1M+3.350%),
08/20/2032
371,808
0.4
315,000
Amneal
Pharmaceuticals
LLC,
Amendment
No.1
Term
Loan,
7.416%,
(TSFR1M+3.500%),
08/02/2032
318,937
0.3
380,000
(1)
Argent
FInc.o
LLC,
Term
Loan,
11/20/2032
380,000
0.4
296,008
Auris
Luxembourg
III
SARL,
(Usd)
Term
Loan
B8,
7.198%,
(TSFR6M+3.500%),
02/28/2029
297,673
0.3
369,075
Bausch
&
Lomb
Corporation,
Third
Amendment
Term
Loans,
8.166%,
(TSFR1M+4.250%),
01/15/2031
370,920
0.4
335,551
Belfor
Holdings
Inc.,
Tranche
B-5
Term
Loan,
6.666%,
(TSFR1M+2.750%),
11/01/2030
336,810
0.3
222,164
Bella
Holding
Company
LLC,
TL,
6.916%,
(TSFR1M+3.000%),
05/10/2028
223,362
0.2
PORTFOLIO
OF
INVESTMENTS
as
of
November
30,
2025
(Unaudited)
(continued)
Principal
Amount†
Value
Percentage
of
Net
Assets
SENIOR
LOANS
*
:
(continued)
Consumer,
Non-cyclical:
(continued)
59,850
Belron
Finance
2019
LLC,
2031
Dollar
Term
Loan,
6.120%,
(TSFR3M+2.250%),
10/16/2031
$
60,280
0.1
269,322
BIFM
US
Finance
LLC,
2025
Term
Loan
(First
Lien),
7.166%,
(TSFR1M+3.250%),
05/31/2028
270,921
0.3
310,000
Camelot
US
Acquisition
I
Co,
Amendment
No.
7
Incremental
Term
Loan,
7.166%,
(TSFR1M+3.250%),
01/31/2031
309,612
0.3
360,442
CHG
Healthcare
Services
Inc.,
Amendment
No.
7
Refinancing
Term
Loan,
6.666%,
(TSFR1M+2.750%),
09/29/2028
362,494
0.4
530,000
Chobani
LLC,
October
2025
1st
Lien
TLB,
6.166%,
(TSFR1M+2.250%),
10/28/2032
533,810
0.6
600,387
Cotiviti
Inc.,
Initial
Floating
Rate
Term
Loans,
6.734%,
(TSFR1M+2.750%),
08/27/2025
579,373
0.6
281,450
Fiesta
Purchaser,
Inc.,
Second
Refinancing
Term
Loan,
6.666%,
(TSFR1M+2.750%),
02/12/2031
281,475
0.3
155,000
Fleet
Midco
I
Ltd.,
Facility
B2
Term
Loan,
6.792%,
(TSFR3M+2.500%),
02/21/2031
155,581
0.2
215,000
Froneri
International
Limited,
Facility
B6,
6.372%,
(TSFR3M+2.500%),
08/02/2032
214,388
0.2
343,043
Fugue
Finance
B.V.,
Fourteenth
Amendment
Dollar
Term
Loan,
6.949%,
(TSFR3M+2.750%),
01/09/2032
344,472
0.4
145,000
(1)
Genmab
A/S,
Term
Loan
B,
11/19/2032
145,702
0.2
Principal
Amount†
Value
Percentage
of
Net
Assets
SENIOR
LOANS
*
:
(continued)
Consumer,
Non-cyclical:
(continued)
375,000
Global
Medical
Response
Inc.,
Initial
Term
Loan,
7.384%,
(TSFR3M+3.500%),
09/20/2032
$
377,344
0.4
41,604
(2)
Hanger
Inc.,
Delayed
Draw
Term
Loan,
7.416%,
(TSFR1M+3.500%),
10/23/2031
41,777
0.0
321,748
Hanger
Inc.,
Initial
Term
Loan,
7.416%,
(TSFR1M+3.500%),
10/23/2031
323,089
0.3
364,450
HomeServe
USA
Holding
Corp.,
Amendment
No.1
Refinancing
Term
Loan,
5.960%,
(TSFR1M+2.000%),
10/21/2030
365,058
0.4
570,000
Ion
Platform
Finance
Us,
Inc.,
Initial
Dollar
Term
Loans,
7.685%,
(TSFR3M+3.750%),
10/07/2032
543,460
0.6
310,991
Kuehg
Corp.,
Term
Loan,
6.752%,
(TSFR3M+2.750%),
06/12/2030
295,908
0.3
444,937
Latham
Pool
Products
Inc.,
Initial
Term
Loans,
7.972%,
(TSFR3M+4.150%),
02/23/2029
444,381
0.5
185,000
(1)
Lavender
Dutch
Borrowerco
B.V.,
Term
Loan,
09/27/2032
185,694
0.2
242,555
LifePoint
Health
Inc.,
Term
Loan
B2,
7.660%,
(TSFR3M+3.500%),
05/19/2031
243,146
0.3
358,202
Neon
Maple
Purchaser
Inc.,
1st
amend
Tranche
B-1
TL,
6.416%,
(TSFR1M+2.500%),
11/17/2031
358,938
0.4
147,596
Neptune
Bidco
Us
Inc.,
Term
B
Loans,
9.012%,
(TSFR3M+5.100%),
04/11/2029
144,385
0.1
430,000
Nourish
Buyer
I,
Inc.,
Initial
Term
Loan,
8.459%,
(TSFR1M+4.500%),
07/08/2032
430,000
0.4
5,000
Opal
Bidco
SAS,
Facility
B4,
6.902%,
(TSFR3M+3.000%),
04/23/2032
5,039
0.0
PORTFOLIO
OF
INVESTMENTS
as
of
November
30,
2025
(Unaudited)
(continued)
Principal
Amount†
Value
Percentage
of
Net
Assets
SENIOR
LOANS
*
:
(continued)
Consumer,
Non-cyclical:
(continued)
150,000
(1)
Pfi
Lower
Midco,
LLC,
Term
Loan,
11/15/2032
$
150,656
0.2
157,681
Priority
Holdings
LLC,
2025-1
Refinancing
Term
Loan,
7.666%,
(TSFR1M+3.750%),
07/30/2032
156,893
0.2
28,050
(1)(2)
Raven
Acquisition
Holdings,
LLC,
2024
Delayed
Draw
Term
Loan
Commitment,
11/19/2031
28,155
0.0
375,222
Raven
Acquisition
Holdings,
LLC,
Initial
Term
Loans,
6.916%,
(TSFR1M+3.000%),
11/19/2031
376,571
0.4
193,054
Resonetics
LLC,
2025
Specified
Refinancing
Term
Commitment,
6.593%,
(TSFR3M+2.750%),
06/18/2031
193,657
0.2
210,000
Sazerac
Company,
Inc.,
Incremental
Term
B-1
Loan,
6.480%,
(TSFR1M+2.500%),
07/09/2032
211,362
0.2
188,106
Sigma
Holdco
BV,
Facility
B12,
7.885%,
(SOFRRATE+3.910%),
01/03/2028
180,347
0.2
376,769
Sotera
Health
Holdings
LLC,
2025
Term
Loan,
6.340%,
(TSFR3M+2.500%),
05/30/2031
380,066
0.4
399,000
Southern
Veterinary
Partners
LLC,
2025
New
Term
Loan,
6.365%,
(TSFR3M+2.500%),
12/04/2031
398,875
0.4
120,971
The
Hertz
Corporation,
Initial
Term
B
Loan,
7.530%,
(TSFR1M+3.615%),
06/30/2028
100,708
0.1
23,713
The
Hertz
Corporation,
Initial
Term
C
Loan,
7.530%,
(TSFR1M+3.615%),
06/30/2028
19,741
0.0
11,680
(2)
US
Fertility
Enterprises
LLC,
Initial
Delayed
Draw
Term
Loan,
8.340%,
(TSFR3M+4.500%),
10/10/2031
11,710
0.0
Principal
Amount†
Value
Percentage
of
Net
Assets
SENIOR
LOANS
*
:
(continued)
Consumer,
Non-cyclical:
(continued)
256,324
US
Fertility
Enterprises
LLC,
Term
Loan
B,
8.502%,
(TSFR3M+4.500%),
10/10/2031
$
256,965
0.3
100,000
(1)
Valvoline
Inc.,
Term
Loan
B,
03/19/2032
100,521
0.1
238,200
Viant
Medical
Holdings
Inc.,
Term
Loan
B,
7.916%,
(TSFR1M+4.000%),
10/29/2031
236,562
0.2
487,739
Vizient
Inc.,
Term
B-8
Loan,
5.666%,
(TSFR1M+1.750%),
08/01/2031
489,720
0.5
85,000
VM
Consolidated
Inc.,
Term
Loan
B-4,
5.916%,
(TSFR1M+2.000%),
10/01/2032
85,651
0.1
264,631
Wand
NewCo
3
Inc.,
Tranche
B-2
Term
Loan,
6.416%,
(TSFR1M+2.500%),
01/30/2031
265,056
0.3
184,538
WCG
Intermediate
Corp,
Term
Loan
B,
6.916%,
(TSFR1M+3.000%),
02/25/2032
185,114
0.2
13,528,067
14.2
Containers
&
Glass
Products
:
0.5%
379,831
Clydesdale
Acquisition
Holdings
Inc.,
Term
B
Loan,
7.091%,
(TSFR1M+3.175%),
04/13/2029
379,032
0.4
117,737
Plaze
Inc.,
2021-1
Term
Loan,
7.780%,
(TSFR1M+3.750%),
08/03/2026
110,673
0.1
489,705
0.5
Electronics/Electrical
:
0.2%
235,000
Altar
Bidco
Inc.,
Initial
Term
Loan,
6.783%,
(SOFRRATE+3.100%),
02/01/2029
232,283
0.2
Energy
:
3.1%
305,521
Brazos
Delaware
II
LLC,
2025
B-2
Refinancing
Term
Loan,
6.472%,
(TSFR1M+2.500%),
02/11/2030
306,209
0.3
PORTFOLIO
OF
INVESTMENTS
as
of
November
30,
2025
(Unaudited)
(continued)
Principal
Amount†
Value
Percentage
of
Net
Assets
SENIOR
LOANS
*
:
(continued)
Energy:
(continued)
235,000
Deep
Blue
Operating
I
LLC,
Initial
Term
Loan,
6.734%,
(TSFR1M+2.750%),
10/01/2032
$
236,175
0.2
325,558
Emg
Utica
Midstream
Holdings
LLC,
Initial
Term
Loan,
8.002%,
(TSFR3M+4.000%),
04/01/2030
328,406
0.3
157,846
Epic
Crude
Services
LP,
Amendment
No.1
Term
Loan
B,
6.340%,
(TSFR3M+2.500%),
10/15/2031
158,615
0.2
318,750
Goodnight
Water
Solutions
Holdings,
LLC,
Initial
Term
Loans,
7.916%,
(TSFR1M+4.000%),
06/04/2029
316,758
0.3
238,800
Hilcorp
Energy
I
LP,
Term
Loan
B,
5.959%,
(TSFR1M+2.000%),
02/11/2030
239,397
0.3
140,534
M6
Etx
Holdings
Ii
Midco
LLC,
Term
Loan
B,
6.465%,
(TSFR1M+2.500%),
04/01/2032
141,281
0.1
166,466
Pasadena
Performance
Products
LLC,
2025-1
Repricing
Term
Loan,
7.252%,
(TSFR3M+3.250%),
02/27/2032
166,778
0.2
297,750
Rockpoint
Gas
Storage
Partners
LP,
Amendment
No.
2
Refinancing
Term
Loans,
6.343%,
(TSFR3M+2.500%),
09/18/2031
299,332
0.3
240,000
Stakeholder
Midstream,
LLC,
Initial
Term
Loan,
8.042%,
(TSFR6M+4.000%),
01/01/2031
239,400
0.3
190,000
(1)
Talen
Energy
Supply
LLC,
2025
1st
Lien
TLB,
10/11/2032
190,237
0.2
350,000
Whitewater
Matterhorn
Holdings,
LLC,
Initial
Term
Loan,
6.313%,
(TSFR3M+2.250%),
06/16/2032
351,258
0.4
2,973,846
3.1
Principal
Amount†
Value
Percentage
of
Net
Assets
SENIOR
LOANS
*
:
(continued)
Financial
:
12.8%
359,100
Acrisure
LLC,
2025
Term
Loan
B7,
7.166%,
(TSFR1M+3.250%),
06/20/2032
$
359,549
0.4
148,503
Acuren
Delaware
Holdco
Inc.
(f/k/a
AAL
Delaware
Holdco
Inc.),
Amendment
No.
1
Term
Loan,
6.666%,
(TSFR1M+2.750%),
07/30/2031
149,647
0.2
400,000
Alera
Group
Inc.,
2025
Term
Loan,
7.166%,
(TSFR1M+3.250%),
05/30/2032
402,250
0.4
90,000
Alera
Group
Inc.,
Initial
Term
Loan,
9.416%,
(TSFR1M+5.500%),
05/20/2033
92,655
0.1
580,383
Alliant
Holdings
Intermediate
LLC,
2025
Replacement
Term
Loan,
6.416%,
(TSFR1M+2.500%),
09/19/2031
581,108
0.6
369,073
Allspring
Buyer
LLC,
2024
Specified
Refinancing
Term
Loan,
6.813%,
(TSFR3M+2.750%),
11/01/2030
370,918
0.4
167,450
Aragorn
Parent
Corporation,
2025
Replacement
Term
Loan,
7.416%,
(TSFR1M+3.500%),
12/15/2028
168,790
0.2
404,968
Ardonagh
Group
Finco
Pty
Ltd,
2025
Facility
B
Term
Loan,
6.752%,
(TSFR3M+2.750%),
02/18/2031
404,630
0.4
318,502
Aretec
Group
Inc.,
Term
B-4
Loan,
6.960%,
(TSFR1M+3.000%),
08/09/2030
319,298
0.3
325,000
(1)
Armor
Holdco
Inc.,
2025
Refinancing
Term
Loans,
12/31/2031
324,899
0.3
274,313
Asurion,
New
B-13
Term
Loan,
8.166%,
(TSFR1M+4.250%),
09/19/2030
271,341
0.3
389,025
Brookfield
Property
Reit
Inc.,
2025
Replacement
Term
Loan,
7.416%,
(TSFR1M+3.500%),
05/28/2030
391,821
0.4
PORTFOLIO
OF
INVESTMENTS
as
of
November
30,
2025
(Unaudited)
(continued)
Principal
Amount†
Value
Percentage
of
Net
Assets
SENIOR
LOANS
*
:
(continued)
Financial:
(continued)
169,784
Chicago
US
Midco
III
LP,
Closing
Date
Term
Loan,
6.416%,
(TSFR1M+2.500%),
10/29/2032
$
169,360
0.2
25,216
(1)(2)
Chicago
US
Midco
III
LP,
Delayed
Draw
Term
Loan,
10/29/2032
25,152
0.0
10,329
Chrysaor
Bidco
S.A
R.L.,
Delayed
Draw
Term
Loan
(Usd),
8.830%,
(TSFR1M+3.500%),
10/30/2031
10,384
0.0
308,624
Chrysaor
Bidco
S.A
R.L.,
Facility
B1
(USD)
Loan,
7.144%,
(TSFR3M+3.250%),
07/17/2031
310,264
0.3
305,000
Corpay
Technologies
Operating
Co
LLC,
Term
Loan
B,
5.666%,
(TSFR1M+1.750%),
10/01/2032
305,076
0.3
433,904
CPI
Holdco
B,
LLC,
Initial
Term
Loans,
5.916%,
(TSFR1M+2.000%),
05/17/2031
434,684
0.4
233,063
Cushman
&Amp;
Wakefield
U.S.
Borrower,
Llc.,
2025-2
Term
Loan,
6.666%,
(TSFR1M+2.750%),
01/31/2030
235,102
0.2
174,125
Dechra
Pharmaceuticals
Holdings
Limited
(f/k/a
Freya
Bidco
Limited),
Facility
B1
Loan,
7.447%,
(TSFR6M+3.250%),
01/27/2032
175,349
0.2
125,000
Edelman
Financial
Engines
Center
LLC
(The),
2024
Refinancing
Term
Loans,
9.166%,
(TSFR1M+5.250%),
10/06/2028
125,365
0.1
432,482
Edelman
Financial
Engines
Center
LLC
(The),
2024-2
Refinancing
Term
Loan,
6.916%,
(TSFR1M+3.000%),
04/07/2028
435,084
0.5
Principal
Amount†
Value
Percentage
of
Net
Assets
SENIOR
LOANS
*
:
(continued)
Financial:
(continued)
251,752
Etna
French
Bidco
SAS,
Facility
B1
(USD)
Loan,
8.435%,
(TSFR3M+4.500%),
12/08/2031
$
251,438
0.3
125,405
Etna
French
Bidco
SAS,
Facility
B2
USD,
8.435%,
(TSFR3M+4.500%),
12/08/2031
125,248
0.1
110,104
(1)(2)
First
Eagle
Holdings
Inc.-f/k/a
Arnhold
and
S.
Bleicroeder
Holdings
Inc.,
Delayed
Draw
Term
Loan,
08/16/2032
110,063
0.1
644,896
First
Eagle
Holdings
Inc.-f/k/a
Arnhold
and
S.
Bleicroeder
Holdings
Inc.,
Initial
Term
Loan,
7.459%,
(TSFR3M+3.500%),
08/16/2032
645,138
0.7
840,000
(1)
Focus
Financial
Partners
LLC,
Term
Loan
B,
09/15/2031
841,050
0.9
130,000
(1)
Gategroup
Finance
(Luxembourg)
S.A.,
Term
Loan
B
(USD),
06/10/2032
130,163
0.1
149,625
Goosehead
Insurance
Holdings,
LLC,
2025
Term
Loan
B,
6.959%,
(TSFR1M+3.000%),
01/08/2032
150,186
0.2
220,695
Guardian
US
Holdco
LLC,
Initial
Term
Loan,
7.502%,
(TSFR3M+3.500%),
01/31/2030
221,154
0.2
213,903
HIG
Finance
2
Limited,
2024-2
Refinancing
Term
Loans,
7.416%,
(TSFR1M+3.500%),
04/18/2030
214,906
0.2
349,577
HighTower
Holding
LLC,
Amendment
No.
10
Replacement
Term
Loan,
6.651%,
(TSFR3M+2.750%),
02/03/2032
348,703
0.4
119,700
IMC
Financing
LLC,
Term
Loan,
7.460%,
(TSFR1M+3.500%),
06/18/2032
121,047
0.1
574,154
Jane
Street
Group
LLC,
Extended
Term
Loan,
5.822%,
(TSFR3M+2.000%),
12/15/2031
569,130
0.6
PORTFOLIO
OF
INVESTMENTS
as
of
November
30,
2025
(Unaudited)
(continued)
Principal
Amount†
Value
Percentage
of
Net
Assets
SENIOR
LOANS
*
:
(continued)
Financial:
(continued)
460,000
Osaic
Holdings
Inc.
(f/k/a
Advisor
Group
Holdings
Inc.),
Initial
Term
Loan,
6.916%,
(TSFR1M+3.000%),
07/30/2032
$
461,402
0.5
155,000
Osttra
Group
Ltd.,
Term
Loan
(First
Lien),
7.427%,
(TSFR3M+3.500%),
10/08/2032
155,775
0.2
165,000
Starwood
Property
Mortgage
LLC,
Incremental
Term
B-2
Loan,
6.166%,
(TSFR1M+2.250%),
09/24/2032
165,825
0.2
372,192
Starwood
Property
Mortgage
LLC,
Term
B-5
Loan,
5.965%,
(TSFR1M+2.000%),
01/02/2030
372,192
0.4
245,000
The
Liberty
Company
Insurance
Brokers,
LLC,
Initial
Term
Loan,
7.655%,
(TSFR3M+3.750%),
10/15/2032
246,531
0.3
410,000
Trucordia
Insurance
Holdings
LLC,
Initial
Term
Loan,
7.166%,
(TSFR1M+3.250%),
06/17/2032
412,050
0.4
190,000
Truist
Insurance
Holdings,
LLC,
2024
Term
Loan
B,
6.752%,
(TSFR3M+2.750%),
05/06/2031
190,416
0.2
78,947
Truist
Insurance
Holdings,
LLC,
Initial
Term
Loans
(Second
Lien),
8.752%,
(TSFR3M+4.750%),
05/06/2032
80,099
0.1
185,000
VFH
Parent
LLC,
Term
Loan
B-2,
6.416%,
(TSFR1M+2.500%),
06/21/2031
185,925
0.2
180,000
Victory
Capital
Holdings
Inc.,
Tranche
B-3
Term
Loan,
6.102%,
(TSFR3M+2.100%),
09/23/2032
181,057
0.2
12,242,224
12.8
Principal
Amount†
Value
Percentage
of
Net
Assets
SENIOR
LOANS
*
:
(continued)
Food
Products
:
0.3%
298,080
BCPE
North
Star
US
Holdco
2
Inc.,
First
Lien
Initial
Term
Loan,
8.030%,
(TSFR1M+4.114%),
06/09/2028
$
297,149
0.3
Health
Care
:
0.5%
320,399
AthenaHealth
Group
Inc.,
Initial
Term
Loan,
6.666%,
(TSFR1M+2.750%),
02/15/2029
320,227
0.3
170,571
Embecta
Corp,
Initial
Term
Loan,
6.916%,
(TSFR1M+3.000%),
03/30/2029
170,881
0.2
491,108
0.5
Industrial
:
11.5%
211,398
Alliance
Laundry
Systems
LLC,
Initial
Term
B
Loans,
6.200%,
(TSFR1M+2.500%),
08/19/2031
212,044
0.2
174,665
Anticimex
Inc.,
Facility
B6,
7.381%,
(SOFRRATE+3.400%),
11/16/2028
175,647
0.2
217,881
Azorra
Soar
TLB
FInance
Limited,
New
Loan,
6.788%,
(TSFR3M+2.750%),
10/18/2029
219,788
0.2
209,475
BCP
VI
Summit
Holdings
LP,
Initial
Term
Loan,
6.984%,
(TSFR1M+3.500%),
01/30/2032
210,915
0.2
235,000
BG
MS
US
Holdings,
LLC,
Term
B
Loan,
8.661%,
(TSFR3M+4.750%),
10/22/2032
235,734
0.3
94,763
Bombardier
Recreational
Products
Inc.,
2024
Extended
Term
Loan,
6.166%,
(TSFR1M+2.250%),
01/22/2031
95,118
0.1
570,588
Chariot
Buyer
LLC,
2025
New
Term
Loan
B,
6.916%,
(TSFR1M+3.000%),
09/08/2032
572,504
0.6
PORTFOLIO
OF
INVESTMENTS
as
of
November
30,
2025
(Unaudited)
(continued)
Principal
Amount†
Value
Percentage
of
Net
Assets
SENIOR
LOANS
*
:
(continued)
Industrial:
(continued)
147,131
Clydesdale
Acquisition
Holdings
Inc.,
2025
Incremental
Closing
Date
Term
B
Loan,
7.166%,
(TSFR1M+3.255%),
04/01/2032
$
146,432
0.2
2,500
(2)
Clydesdale
Acquisition
Holdings
Inc.,
Delayed
Draw
Term
Loan,
7.413%,
(TSFR1M+3.250%),
04/01/2032
2,488
0.0
170,000
CoorsTek,
Inc.,
Term
Loan
B,
6.859%,
(TSFR3M+3.000%),
10/12/2032
169,575
0.2
284,835
Cp
Iris
Holdco
I,
Inc.,
2025
1st
Lien
TLB
(Strip),
7.916%,
(TSFR1M+4.000%),
10/27/2032
284,657
0.3
35,165
(1)(2)
Cp
Iris
Holdco
I,
Inc.,
Delayed
Draw
Commitment,
10/27/2032
35,143
0.0
352,338
Crown
Equipment
Corporation,
Initial
Term
B-2,
5.948%,
(TSFR1M+2.000%),
10/10/2031
354,687
0.4
575,000
DG
Investment
Intermediate
Holdings
2
Inc.,
Term
Loan,
6.666%,
(TSFR1M+2.750%),
07/12/2032
577,875
0.6
195,000
GFL
Environmental
Services
Inc.,
Initial
Term
Loan,
6.671%,
(TSFR3M+2.500%),
03/03/2032
195,640
0.2
298,500
Goat
Holdco
LLC,
Term
B
Loans,
6.666%,
(TSFR1M+2.750%),
01/27/2032
299,358
0.3
260,000
Green
Infrastructure
Partners
Inc.,
Initial
Term
Loan,
6.753%,
(TSFR3M+2.750%),
09/24/2032
261,137
0.3
103,694
Ingram
Micro
Inc.,
Term
Loan
B2,
6.248%,
(TSFR3M+2.250%),
09/22/2031
104,212
0.1
265,622
Kenan
Advantage
Group
Inc.
(The),
Term
Loan
B4,
7.166%,
(TSFR1M+3.250%),
01/25/2029
263,132
0.3
Principal
Amount†
Value
Percentage
of
Net
Assets
SENIOR
LOANS
*
:
(continued)
Industrial:
(continued)
208,858
Lsf11
Trinity
Bidco,
Inc.,
2025
Term
Loan
B,
6.451%,
(TSFR1M+2.500%),
06/14/2030
$
210,033
0.2
433,441
Lsf12
Crown
Us
Commercial
Bidco,
LLC,
2025
Refinancing
Term
Loan,
7.484%,
(TSFR1M+3.500%),
12/02/2031
434,525
0.5
394,013
Madison
Iaq
LLC,
2025
Repriced
Incremental
Term
Loan,
6.637%,
(TSFR3M+2.750%),
05/06/2032
396,377
0.4
142,769
Madison
Iaq
LLC,
Initial
Term
Loan,
6.702%,
(TSFR6M+2.500%),
06/21/2028
143,537
0.2
123,999
Madison
Safety
&
Flow
LLC,
2025-
B
Incremental
Term
B,
6.416%,
(TSFR1M+2.500%),
09/26/2031
124,696
0.1
158,004
MI
Windows
and
Doors
LLC,
2024
Incremental
Term
Loans,
6.666%,
(TSFR1M+2.750%),
03/28/2031
157,757
0.2
154,613
MV
Holding
GmbH
FKA
Igloo
Holdings
Corp,
Senior
Facility
B
(USD)
Loan,
5.916%,
(TSFR1M+2.000%),
03/17/2032
155,531
0.2
385,000
Pac
Dac
LLC,
Initial
Term
Loans,
7.108%,
(TSFR3M+3.250%),
10/28/2030
380,669
0.4
235,000
Plastipak
Packaging
Inc.,
Tranche
B
Term
Loan,
6.416%,
(TSFR1M+2.500%),
09/10/2032
235,257
0.2
430,000
Pro
Mach,
Amendment
No
6
Term
Loan,
6.666%,
(TSFR1M+2.750%),
10/16/2032
432,457
0.5
407,950
Quikrete
Holdings
Inc.,
Tranche
B-3
Term
Loan,
6.166%,
(TSFR1M+2.250%),
02/10/2032
408,904
0.4
229,425
Red
SPV
LLC,
Initial
Term
Loan,
6.210%,
(TSFR1M+2.250%),
03/15/2032
229,999
0.2
PORTFOLIO
OF
INVESTMENTS
as
of
November
30,
2025
(Unaudited)
(continued)
Principal
Amount†
Value
Percentage
of
Net
Assets
SENIOR
LOANS
*
:
(continued)
Industrial:
(continued)
159,600
Savage
Enterprises
LLC,
Term
Loan
B,
6.506%,
(TSFR1M+2.500%),
08/05/2032
$
160,149
0.2
406,781
Service
Logic
Acquisition
Inc.,
Amendment
8
Refinancing
Term
Loan,
6.840%,
(TSFR3M+3.000%),
10/29/2027
407,290
0.4
468,822
Smyrna
Ready
Mix
Concrete
LLC,
2025
Term
Loan,
6.916%,
(TSFR1M+3.000%),
04/02/2029
470,873
0.5
110,000
(1)
Spectris
PLC,
Term
Loan,
09/30/2032
110,619
0.1
212,053
SPX
Flow,
Inc.,
2025
Term
Loans,
6.666%,
(TSFR1M+2.750%),
04/05/2029
213,527
0.2
325,000
Stonepeak
Nile
Parent
LLC,
Amendment
No
1
Term
Loan,
6.162%,
(TSFR3M+2.250%),
04/09/2032
325,237
0.3
367,998
Third
Coast
Infrastructure
LLC,
2025
Refinancing
Term
Loans,
7.666%,
(TSFR1M+3.750%),
09/25/2030
368,458
0.4
583,593
TK
Elevator
Midco
Gmbh,
(Usd)
Term
Loan
B,
7.197%,
(TSFR6M+3.000%),
04/30/2030
587,742
0.6
295,000
Transdigm,
Tranche
M
Term
Loans,
6.502%,
(TSFR3M+2.500%),
08/19/2032
295,819
0.3
331,650
Wilsonart
LLC,
Initial
Term
Loans,
8.252%,
(TSFR3M+4.250%),
08/05/2031
319,794
0.3
10,985,336
11.5
Insurance
:
0.9%
218,894
Ima
Financial
Group,
Inc.,
Initial
Term
Loan,
6.916%,
(TSFR1M+3.000%),
11/01/2028
219,647
0.2
Principal
Amount†
Value
Percentage
of
Net
Assets
SENIOR
LOANS
*
:
(continued)
Insurance:
(continued)
657,734
Sedgwick
Claims
Management
Services
Inc.,
2024
Term
Loan,
6.416%,
(TSFR1M+3.000%),
07/31/2031
$
659,202
0.7
878,849
0.9
Lodging
&
Casinos
:
0.4%
383,019
Fertitta
Entertainment
LLC,
Initial
B
Term
Loan,
7.166%,
(TSFR1M+3.250%),
01/29/2029
382,966
0.4
Radio
&
Television
:
0.0%
35,837
DirectV
Financing
LLC,
Closing
Date
Term
Loan,
9.102%,
(TSFR3M+5.262%),
08/02/2027
35,924
0.0
Technology
:
10.3%
225,000
Altar
Bidco
Inc.,
Second
Lien
Initial
Term
Loan,
9.283%,
(TSFR1M+5.600%),
02/01/2030
214,313
0.2
120,000
Applied
Systems
Inc.,
Initial
Term
Loan
(2024)
(Second
Lien),
8.502%,
(TSFR3M+4.500%),
02/23/2032
122,719
0.1
493,775
Applied
Systems
Inc.,
Tranche
B-1
Term
Loan,
6.502%,
(TSFR3M+2.500%),
02/24/2031
496,115
0.5
370,762
Ascend
Learning
LLC,
Amendment
No
5
Term
Loan,
6.965%,
(TSFR1M+3.000%),
12/11/2028
371,275
0.4
255,000
Asurion
LLC,
Second
Lien
Term
Loan
B3,
9.280%,
(TSFR1M+5.364%),
01/31/2028
245,119
0.3
269,325
BCPE
Pequod
Buyer
Inc.,
Initial
Term
Loan,
6.916%,
(TSFR1M+3.000%),
11/25/2031
270,335
0.3
2
Cloud
Software
Group
Inc.,
Initial
Dollar
Term
B
Facility,
7.796%,
(TSFR3M+3.500%),
03/30/2029
2
0.0
PORTFOLIO
OF
INVESTMENTS
as
of
November
30,
2025
(Unaudited)
(continued)
Principal
Amount†
Value
Percentage
of
Net
Assets
SENIOR
LOANS
*
:
(continued)
Technology:
(continued)
248,693
Connectwise,
LLC,
Initial
Term
Loan,
7.763%,
(TSFR3M+3.762%),
09/29/2028
$
249,128
0.3
365,000
(1)
Dayforce
Inc.,
Term
Loan
B,
10/07/2032
364,087
0.4
365,000
Disco
Parent
Inc.,
Term
Loan,
7.072%,
(TSFR3M+3.250%),
08/06/2032
367,281
0.4
382,113
Dragon
Buyer,
Inc.,
Term
Loan,
6.752%,
(TSFR3M+2.750%),
09/30/2031
384,202
0.4
278,788
ECI
Macola
/
Max
Holding
LLC,
2025
Repricing
Term
Loan,
6.752%,
(TSFR3M+2.750%),
05/09/2030
280,124
0.3
416,826
Epicor
Software
Corporation,
Term
F
Loans,
6.416%,
(TSFR1M+2.500%),
05/30/2031
418,552
0.4
565,000
Finastra
Usa,
Inc.,
Initial
USD
Term
Loans,
8.038%,
(TSFR3M+4.000%),
09/15/2032
556,054
0.6
203,463
Fortress
Intermediate
3
Inc.,
2025
Tlb,
7.006%,
(TSFR1M+3.000%),
06/27/2031
203,463
0.2
198,438
Gainwell
Acquisition
Corp,
Term
B
Loan,
8.102%,
(TSFR3M+4.100%),
10/01/2027
196,875
0.2
239,400
Icon
Parent
I
Inc.,
2025
Term
Loan,
6.753%,
(TSFR3M+2.750%),
11/13/2031
240,148
0.3
150,000
Kaseya
Inc.,
Initial
Term
Loan,
8.916%,
(TSFR1M+5.000%),
03/05/2033
147,750
0.2
273,625
Kaseya
Inc.,
Term
Loan,
6.916%,
(TSFR1M+3.000%),
03/20/2032
274,357
0.3
378,100
Leia
FInc.o
US
LLC,
Initial
Term
Loan,
7.185%,
(TSFR3M+3.250%),
10/09/2031
379,180
0.4
Principal
Amount†
Value
Percentage
of
Net
Assets
SENIOR
LOANS
*
:
(continued)
Technology:
(continued)
377,874
PointClickCare
Technologies,
2025
Term
Loans,
6.752%,
(TSFR3M+2.750%),
11/03/2031
$
379,291
0.4
502,144
Project
Boost
Purchaser
LLC,
1L
Intial
Term
Loan,
6.668%,
(TSFR3M+2.750%),
07/16/2031
502,649
0.5
227,706
Project
Ruby
Ultimate
Parent
Corp,
Incremental
Term
B-5,
6.829%,
(TSFR1M+2.865%),
03/10/2028
228,600
0.2
92,575
RealPage
Inc.,
First
Lien
Initial
Term
Loan,
7.263%,
(TSFR3M+3.262%),
04/24/2028
92,633
0.1
365,000
Red
Planet
Borrower
LLC,
Initial
Term
Loan,
7.916%,
(TSFR1M+4.000%),
09/08/2032
365,399
0.4
325,064
Rocket
Software
Inc.,
Term
Loan,
7.666%,
(TSFR1M+3.750%),
11/28/2028
324,484
0.3
207,000
Sandisk
Corporation,
Term
B
Loan,
6.857%,
(TSFR3M+3.000%),
02/20/2032
208,294
0.2
260,280
Skillsoft
Finance
II
Inc.,
Initial
Term
Loan,
9.280%,
(TSFR1M+5.364%),
07/14/2028
212,454
0.2
352,338
Skopima
Consilio
Parent
LLC
(FKA
GI
Consilio),
Amendment
No.
5
Term
Loans,
7.715%,
(TSFR1M+3.750%),
05/12/2028
323,049
0.3
367,096
Sophos
Holdings
LLC,
Dollar
Tranche
Term
Loan,
7.530%,
(TSFR1M+3.614%),
03/05/2027
367,719
0.4
300,000
SS&C
Technologies
Holdings,
Inc.,
Term
Loan
B-8
Loan,
5.916%,
(TSFR1M+2.000%),
05/09/2031
301,517
0.3
PORTFOLIO
OF
INVESTMENTS
as
of
November
30,
2025
(Unaudited)
(continued)
Principal
Amount†
Value
Percentage
of
Net
Assets
SENIOR
LOANS
*
:
(continued)
Technology:
(continued)
275,814
The
Knot
Worldwide
Inc.,
Amendment
No
5
term
Loan,
7.666%,
(TSFR1M+3.750%),
01/31/2028
$
274,435
0.3
448,875
World
Wide
Technology
Holding
Co
LLC,
2025
Refinancing
Term
Loan,
5.916%,
(TSFR1M+2.000%),
03/01/2030
450,558
0.5
9,812,161
10.3
Utilities
:
0.6%
172,109
AL
GCX
Fund
VIII
HOLDINGS
LLC,
Initial
Term
Loan
B,
5.992%,
(TSFR1M+2.000%),
01/30/2032
172,038
0.2
311,850
Lightning
Power,
LLC,
Initial
Term
B
Loan,
6.252%,
(TSFR3M+2.250%),
08/18/2031
313,539
0.3
124,684
NRG
Energy
Inc.,
Term
Loan,
5.593%,
(TSFR3M+1.750%),
04/16/2031
125,065
0.1
610,642
0.6
Total
Senior
Loans
(Cost
$69,941,435)
70,004,942
73.2
CORPORATE
BONDS/NOTES
:
57.1%
Basic
Materials
:
5.2%
370,000
(3)
Avient
Corp.,
6.250%,
11/01/2031
377,948
0.4
330,000
(3)
Capstone
Copper
Corp.,
6.750%,
03/31/2033
342,579
0.3
425,000
Celanese
US
Holdings
LLC,
6.750%,
04/15/2033
423,229
0.4
425,000
(3)
Chemours
Co.,
5.750%,
11/15/2028
412,810
0.4
390,000
(3)
Cleveland-Cliffs,
Inc.,
4.625%,
03/01/2029
381,324
0.4
75,000
(3)
Cleveland-Cliffs,
Inc.,
6.875%,
11/01/2029
77,229
0.1
250,000
(3)
Constellium
SE,
5.625%,
06/15/2028
250,582
0.3
755,000
(3)
New
Gold,
Inc.,
6.875%,
04/01/2032
803,685
0.8
330,000
(3)
NOVA
Chemicals
Corp.,
7.000%,
12/01/2031
350,772
0.4
475,000
(3)
Novelis
Corp.,
4.750%,
01/30/2030
458,233
0.5
275,000
(3)
Nufarm
Australia
Ltd.
/
Nufarm
Americas,
Inc.,
5.000%,
01/27/2030
248,360
0.3
Principal
Amount†
Value
Percentage
of
Net
Assets
CORPORATE
BONDS/NOTES:
(continued)
Basic
Materials:
(continued)
445,000
Olin
Corp.,
5.625%,
08/01/2029
$
446,646
0.5
200,000
(3)
SNF
Group
SACA,
3.375%,
03/15/2030
187,128
0.2
200,000
(3)
SPCM
SA,
3.125%,
03/15/2027
196,761
0.2
4,957,286
5.2
Communications
:
7.0%
180,000
(3)
Arches
Buyer,
Inc.,
6.125%,
12/01/2028
176,320
0.2
1,000,000
(3)
CCO
Holdings
LLC
/
CCO
Holdings
Capital
Corp.,
4.750%,
03/01/2030
953,292
1.0
425,000
(3)
Cipher
Compute
LLC,
7.125%,
11/15/2030
432,306
0.5
425,000
(3)
Directv
Financing
LLC,
8.875%,
02/01/2030
420,919
0.4
216,000
(3)
Directv
Financing
LLC
/
Directv
Financing
Co-
Obligor,
Inc.,
5.875%,
08/15/2027
216,232
0.2
425,000
(3)
Gen
Digital,
Inc.,
6.250%,
04/01/2033
438,400
0.5
375,000
(3)
Gray
Media,
Inc.,
7.250%,
08/15/2033
375,941
0.4
350,000
Lamar
Media
Corp.,
4.000%,
02/15/2030
338,927
0.4
75,000
(3)
Level
3
Financing,
Inc.,
6.875%,
06/30/2033
76,452
0.1
325,000
(3)
Match
Group
Holdings
II
LLC,
5.625%,
02/15/2029
327,436
0.3
425,000
(3)
Nexstar
Media,
Inc.,
4.750%,
11/01/2028
421,797
0.4
345,000
(3)
Outfront
Media
Capital
LLC
/
Outfront
Media
Capital
Corp.,
4.625%,
03/15/2030
336,145
0.3
475,000
(3)
Sirius
XM
Radio,
Inc.,
5.000%,
08/01/2027
475,472
0.5
425,000
(3)
Snap,
Inc.,
6.875%,
03/15/2034
435,498
0.5
345,000
(3)
Stagwell
Global
LLC,
5.625%,
08/15/2029
335,544
0.3
500,000
(3)
Vmed
O2
UK
Financing
I
PLC,
6.750%,
01/15/2033
498,558
0.5
425,000
(3)
WULF
Compute
LLC,
7.750%,
10/15/2030
439,756
0.5
6,698,995
7.0
Consumer,
Cyclical
:
9.3%
100,000
(3)
1011778
BC
ULC
/
New
Red
Finance,
Inc.,
4.000%,
10/15/2030
95,383
0.1
250,000
(3)
1011778
BC
ULC
/
New
Red
Finance,
Inc.,
6.125%,
06/15/2029
258,080
0.3
PORTFOLIO
OF
INVESTMENTS
as
of
November
30,
2025
(Unaudited)
(continued)
Principal
Amount†
Value
Percentage
of
Net
Assets
CORPORATE
BONDS/NOTES:
(continued)
Consumer,
Cyclical:
(continued)
475,000
(3)
Advance
Auto
Parts,
Inc.,
7.000%,
08/01/2030
$
485,184
0.5
375,000
(3)
Allison
Transmission,
Inc.,
5.875%,
06/01/2029
381,446
0.4
115,833
(3)
American
Airlines,
Inc./
AAdvantage
Loyalty
IP
Ltd.,
5.500%,
04/20/2026
116,181
0.1
425,000
(3)
American
Axle
&
Manufacturing,
Inc.,
7.750%,
10/15/2033
429,542
0.4
400,000
Asbury
Automotive
Group,
Inc.,
4.500%,
03/01/2028
398,305
0.4
375,000
Bath
&
Body
Works,
Inc.,
6.750%,
07/01/2036
371,600
0.4
215,000
(3)
Caesars
Entertainment,
Inc.,
4.625%,
10/15/2029
203,626
0.2
250,000
(3)
Caesars
Entertainment,
Inc.,
6.500%,
02/15/2032
254,456
0.3
300,000
(3)
eG
Global
Finance
PLC,
12.000%,
11/30/2028
327,451
0.3
300,000
(3)
Gap,
Inc.,
3.625%,
10/01/2029
284,971
0.3
330,000
(3)
Hilton
Domestic
Operating
Co.,
Inc.,
5.875%,
03/15/2033
340,525
0.4
300,000
(3)
Installed
Building
Products,
Inc.,
5.750%,
02/01/2028
301,603
0.3
365,000
(3)
Interface,
Inc.,
5.500%,
12/01/2028
364,772
0.4
600,000
(3)
International
Game
Technology
PLC,
6.250%,
01/15/2027
606,667
0.6
325,000
(3)
Macy's
Retail
Holdings
LLC,
6.125%,
03/15/2032
326,907
0.3
145,000
MGM
Resorts
International,
6.500%,
04/15/2032
148,929
0.2
340,000
Murphy
Oil
USA,
Inc.,
4.750%,
09/15/2029
337,645
0.4
330,000
(3)
NCL
Corp.
Ltd.,
6.750%,
02/01/2032
335,140
0.4
300,000
(3)
Newell
Brands,
Inc.,
8.500%,
06/01/2028
313,043
0.3
325,000
Sally
Holdings
LLC
/
Sally
Capital,
Inc.,
6.750%,
03/01/2032
340,346
0.4
425,000
(3)
SeaWorld
Parks
&
Entertainment,
Inc.,
5.250%,
08/15/2029
411,426
0.4
275,000
(3)
Station
Casinos
LLC,
4.500%,
02/15/2028
272,333
0.3
Principal
Amount†
Value
Percentage
of
Net
Assets
CORPORATE
BONDS/NOTES:
(continued)
Consumer,
Cyclical:
(continued)
400,000
(3)
Tempur
Sealy
International,
Inc.,
4.000%,
04/15/2029
$
390,003
0.4
280,000
(3)
Victoria's
Secret
&
Co.,
4.625%,
07/15/2029
271,292
0.3
475,000
(3)
Wynn
Resorts
Finance
LLC
/
Wynn
Resorts
Capital
Corp.,
6.250%,
03/15/2033
487,400
0.5
8,854,256
9.3
Consumer,
Non-cyclical
:
10.1%
335,000
(3)
Acadia
Healthcare
Co.,
Inc.,
5.500%,
07/01/2028
332,142
0.3
675,000
(3)
Albertsons
Cos.,
Inc.
/
Safeway,
Inc.
/
New
Albertsons
L.P.
/
Albertsons
LLC,
5.875%,
02/15/2028
676,785
0.7
305,000
(3)
Albion
Financing
1
Sarl
/
Aggreko
Holdings,
Inc.,
7.000%,
05/21/2030
317,796
0.3
275,000
(3)
APi
Group
DE,
Inc.,
4.750%,
10/15/2029
271,295
0.3
400,000
(3)
Belron
UK
Finance
PLC,
5.750%,
10/15/2029
407,056
0.4
110,000
(3)
Brink's
Co.,
6.500%,
06/15/2029
113,760
0.1
210,000
(3)
Brink's
Co.,
6.750%,
06/15/2032
219,180
0.2
175,000
(3)
CHS/Community
Health
Systems,
Inc.,
5.250%,
05/15/2030
165,469
0.2
450,000
(3)
Cimpress
PLC,
7.375%,
09/15/2032
459,599
0.5
293,000
(3)
CPI
CG,
Inc.,
10.000%,
07/15/2029
308,179
0.3
410,000
(3)
DaVita,
Inc.,
4.625%,
06/01/2030
398,017
0.4
330,000
(3)
Embecta
Corp.,
5.000%,
02/15/2030
314,817
0.3
425,000
(3)
EquipmentShare.
com,
Inc.,
8.000%,
03/15/2033
433,596
0.5
220,000
(3)
Insulet
Corp.,
6.500%,
04/01/2033
230,591
0.2
400,000
(3)
Jazz
Securities
DAC,
4.375%,
01/15/2029
395,218
0.4
150,000
(3)
LifePoint
Health,
Inc.,
10.000%,
06/01/2032
158,733
0.2
275,000
(3)
Medline
Borrower
L.P.,
3.875%,
04/01/2029
267,165
0.3
195,000
(3)
Medline
Borrower
L.P.,
5.250%,
10/01/2029
195,631
0.2
400,000
(3)
Organon
&
Co
/
Organon
Foreign
Debt
Co-Issuer
BV,
5.125%,
04/30/2031
335,286
0.3
PORTFOLIO
OF
INVESTMENTS
as
of
November
30,
2025
(Unaudited)
(continued)
Principal
Amount†
Value
Percentage
of
Net
Assets
CORPORATE
BONDS/NOTES:
(continued)
Consumer,
Non-cyclical:
(continued)
350,000
Perrigo
Finance
Unlimited
Co.
USD,
6.125%,
09/30/2032
$
341,996
0.4
175,000
(3)
Post
Holdings,
Inc.,
5.500%,
12/15/2029
175,218
0.2
170,000
(3)
Post
Holdings,
Inc.,
6.250%,
10/15/2034
173,084
0.2
95,000
(3)
Post
Holdings,
Inc.,
6.375%,
03/01/2033
96,393
0.1
365,000
(3)
Primo
Water
Holdings,
Inc.
/
Triton
Water
Holdings,
Inc.,
4.375%,
04/30/2029
354,374
0.4
360,000
(3)
Select
Medical
Corp.,
6.250%,
12/01/2032
357,842
0.4
330,000
Service
Corp.
International,
5.750%,
10/15/2032
337,149
0.4
360,000
(3)
Simmons
Foods,
Inc./
Simmons
Prepared
Foods,
Inc./Simmons
Pet
Food,
Inc./Simmons
Feed,
4.625%,
03/01/2029
346,576
0.4
500,000
Tenet
Healthcare
Corp.,
4.625%,
06/15/2028
500,617
0.5
325,000
United
Rentals
North
America,
Inc.,
5.250%,
01/15/2030
329,584
0.3
270,000
(3)
US
Foods,
Inc.,
5.750%,
04/15/2033
275,535
0.3
330,000
(3)
Williams
Scotsman,
Inc.,
6.625%,
04/15/2030
341,016
0.4
9,629,699
10.1
Energy
:
6.9%
425,000
(3)
Archrock
Partners
L.P.
/
Archrock
Partners
Finance
Corp.,
6.250%,
04/01/2028
429,033
0.5
325,000
(3)
Ascent
Resources
Utica
Holdings
LLC
/
ARU
Finance
Corp.,
5.875%,
06/30/2029
326,340
0.3
315,000
(3)
Baytex
Energy
Corp.,
8.500%,
04/30/2030
332,471
0.4
290,000
(3)
Civitas
Resources,
Inc.,
8.750%,
07/01/2031
302,352
0.3
325,000
(3)
Crescent
Energy
Finance
LLC,
7.625%,
04/01/2032
316,690
0.3
385,000
(3)
Delek
Logistics
Partners
L.P.
/
Delek
Logistics
Finance
Corp.,
7.125%,
06/01/2028
387,477
0.4
300,000
(3)
Earthstone
Energy
Holdings
LLC,
8.000%,
04/15/2027
304,044
0.3
Principal
Amount†
Value
Percentage
of
Net
Assets
CORPORATE
BONDS/NOTES:
(continued)
Energy:
(continued)
288,000
(3)
Enerflex
Ltd.,
9.000%,
10/15/2027
$
295,197
0.3
380,000
(3)
Global
Partners
L.P.
/
GLP
Finance
Corp.,
8.250%,
01/15/2032
398,725
0.4
340,000
(3)
Howard
Midstream
Energy
Partners
LLC,
7.375%,
07/15/2032
359,138
0.4
350,000
(3)
Kinetik
Holdings
L.P.,
5.875%,
06/15/2030
353,031
0.4
310,000
(3)
Kodiak
Gas
Services
LLC,
7.250%,
02/15/2029
323,447
0.3
325,000
(3)
Northriver
Midstream
Finance
L.P.,
6.750%,
07/15/2032
331,289
0.4
110,000
(3)
Permian
Resources
Operating
LLC,
6.250%,
02/01/2033
112,820
0.1
300,000
(3)
Summit
Midstream
Holdings
LLC,
8.625%,
10/31/2029
309,805
0.3
450,000
(3)
Sunoco
L.P.,
5.625%,
03/15/2031
452,841
0.5
500,000
(3)
Transocean
International
Ltd.,
7.875%,
10/15/2032
521,550
0.5
225,000
(3)
Venture
Global
LNG,
Inc.,
7.000%,
01/15/2030
220,892
0.2
540,000
(3)
Venture
Global
LNG,
Inc.,
8.125%,
06/01/2028
553,483
0.6
6,630,625
6.9
Financial
:
5.9%
400,000
(3)
Acrisure
LLC
/
Acrisure
Finance,
Inc.,
6.000%,
08/01/2029
394,477
0.4
150,000
(3)
Acrisure
LLC
/
Acrisure
Finance,
Inc.,
7.500%,
11/06/2030
155,879
0.2
300,000
(3)
Alliant
Holdings
Intermediate
LLC
/
Alliant
Holdings
Co-Issuer,
6.500%,
10/01/2031
308,989
0.3
225,000
(3)
Alliant
Holdings
Intermediate
LLC
/
Alliant
Holdings
Co-Issuer,
7.375%,
10/01/2032
232,892
0.3
200,000
(3)
Burford
Capital
Global
Finance
LLC,
6.250%,
04/15/2028
199,560
0.2
400,000
(3)
Focus
Financial
Partners
LLC,
6.750%,
09/15/2031
413,596
0.4
PORTFOLIO
OF
INVESTMENTS
as
of
November
30,
2025
(Unaudited)
(continued)
Principal
Amount†
Value
Percentage
of
Net
Assets
CORPORATE
BONDS/NOTES:
(continued)
Financial:
(continued)
120,000
(3)
Freedom
Mortgage
Holdings
LLC,
9.125%,
05/15/2031
$
128,551
0.1
330,000
(3)
Icahn
Enterprises
L.P.
/
Icahn
Enterprises
Finance
Corp.,
10.000%,
11/15/2029
332,268
0.4
330,000
(3)
Iron
Mountain,
Inc.,
5.250%,
07/15/2030
327,395
0.4
400,000
(3)
Midcap
Financial
Issuer
Trust,
6.500%,
05/01/2028
394,224
0.4
575,000
Navient
Corp.,
5.000%,
03/15/2027
574,955
0.6
525,000
OneMain
Finance
Corp.,
3.500%,
01/15/2027
518,578
0.5
320,000
(3)
Park
Intermediate
Holdings
LLC
/
PK
Domestic
Property
LLC
/
PK
Finance
Co-Issuer,
7.000%,
02/01/2030
327,308
0.3
330,000
(3)
PennyMac
Financial
Services,
Inc.,
6.875%,
02/15/2033
344,199
0.4
370,000
(3)
PRA
Group,
Inc.,
5.000%,
10/01/2029
342,459
0.4
310,000
(3)
Rocket
Cos.,
Inc.,
6.375%,
08/01/2033
325,010
0.3
300,000
(3)
VFH
Parent
LLC
/
Valor
Co-Issuer,
Inc.,
7.500%,
06/15/2031
315,584
0.3
5,635,924
5.9
Industrial
:
8.1%
315,000
(3)
AAR
Escrow
Issuer
LLC,
6.750%,
03/15/2029
327,173
0.3
325,000
(3)
AmeriTex
HoldCo
Intermediate
LLC,
7.625%,
08/15/2033
342,094
0.3
220,000
(3)
Amsted
Industries,
Inc.,
6.375%,
03/15/2033
228,370
0.2
335,000
(3)
Arcosa,
Inc.,
6.875%,
08/15/2032
352,275
0.4
55,000
(3)
Bombardier,
Inc.,
7.250%,
07/01/2031
58,653
0.1
350,000
(3)
Cascades,
Inc.
/
Cascades
USA,
Inc.,
5.375%,
01/15/2028
351,407
0.4
225,000
(3)
Clean
Harbors,
Inc.,
5.125%,
07/15/2029
226,071
0.2
330,000
(3)
Emerald
Debt
Merger
Sub
LLC,
6.625%,
12/15/2030
342,409
0.3
785,000
(3)
Energizer
Holdings,
Inc.,
6.000%,
09/15/2033
742,007
0.8
Principal
Amount†
Value
Percentage
of
Net
Assets
CORPORATE
BONDS/NOTES:
(continued)
Industrial:
(continued)
327,000
(3)
Fortress
Transportation
and
Infrastructure
Investors
LLC,
5.875%,
04/15/2033
$
331,376
0.3
385,000
(3)
GFL
Environmental,
Inc.,
4.000%,
08/01/2028
377,780
0.4
275,000
(3)
Global
Infrastructure
Solutions,
Inc.,
5.625%,
06/01/2029
276,873
0.3
390,000
(3)
Imola
Merger
Corp.,
4.750%,
05/15/2029
385,555
0.4
340,000
(3)
Owens-Brockway
Glass
Container,
Inc.,
7.250%,
05/15/2031
344,675
0.4
330,000
(3)
Quikrete
Holdings,
Inc.,
6.375%,
03/01/2032
342,943
0.4
375,000
(3)
Sealed
Air
Corp.,
4.000%,
12/01/2027
374,471
0.4
260,000
(3)
Sensata
Technologies
BV,
4.000%,
04/15/2029
254,134
0.3
250,000
(3)
Smyrna
Ready
Mix
Concrete
LLC,
8.875%,
11/15/2031
265,555
0.3
350,000
(3)
Standard
Industries,
Inc.,
4.750%,
01/15/2028
349,321
0.4
220,000
(3)
Stonepeak
Nile
Parent
LLC,
7.250%,
03/15/2032
232,682
0.2
300,000
(3)
Terex
Corp.,
6.250%,
10/15/2032
306,541
0.3
315,000
(3)
TransDigm,
Inc.,
6.375%,
05/31/2033
323,661
0.3
330,000
(3)
Waste
Pro
USA,
Inc.,
7.000%,
02/01/2033
344,060
0.4
275,000
(3)
Weekley
Homes
LLC
/
Weekley
Finance
Corp.,
4.875%,
09/15/2028
271,250
0.3
7,751,336
8.1
Technology
:
1.7%
325,000
(3)
Amentum
Escrow
Corp.,
7.250%,
08/01/2032
341,399
0.4
310,000
(3)
Cloud
Software
Group,
Inc.,
6.500%,
03/31/2029
312,767
0.3
325,000
(3)
Entegris
Escrow
Corp.,
5.950%,
06/15/2030
333,037
0.3
495,000
(3)
Open
Text
Holdings,
Inc.,
4.125%,
02/15/2030
472,419
0.5
195,000
(3)
UKG,
Inc.,
6.875%,
02/01/2031
201,472
0.2
1,661,094
1.7
Utilities
:
2.9%
275,000
(3)
Alpha
Generation
LLC,
6.750%,
10/15/2032
283,241
0.3
PORTFOLIO
OF
INVESTMENTS
as
of
November
30,
2025
(Unaudited)
(continued)
Principal
Amount†
Value
Percentage
of
Net
Assets
CORPORATE
BONDS/NOTES:
(continued)
Utilities:
(continued)
645,000
(3)
Calpine
Corp.,
5.125%,
03/15/2028
$
648,638
0.7
325,000
(3)
Lightning
Power
LLC,
7.250%,
08/15/2032
345,150
0.4
175,000
(3)
NRG
Energy,
Inc.,
6.000%,
02/01/2033
178,834
0.2
195,000
(3)
NRG
Energy,
Inc.,
6.250%,
11/01/2034
201,075
0.2
425,000
(3)
Talen
Energy
Supply
LLC,
6.250%,
02/01/2034
433,308
0.4
400,000
(3)
Vistra
Operations
Co.
LLC,
5.625%,
02/15/2027
400,734
0.4
305,000
(3)
Vistra
Operations
Co.
LLC,
6.875%,
04/15/2032
320,976
0.3
2,811,956
2.9
Total
Corporate
Bonds/
Notes
(Cost
$53,780,195)
54,631,171
57.1
ASSET-BACKED
SECURITIES
:
5.3%
Other
Asset-Backed
Securities
:
5.3%
500,000
(3)(4)
Ares
LXXIV
CLO
Ltd.
2024-74A
E,
10.809%,
(TSFR3M
+
6.000%),
10/15/2036
501,271
0.5
500,000
(3)(4)
Bain
Capital
Credit
Clo
Ltd.
2024-5A
E,
10.759%,
(TSFR3M
+
6.150%),
10/21/2037
502,422
0.5
500,000
(3)(4)
Benefit
Street
Partners
CLO
XXVII
Ltd.
2022-
27A
ER,
10.034%,
(TSFR3M
+
6.150%),
10/20/2037
493,362
0.5
350,000
(3)(4)
Carlyle
US
CLO
Ltd.
2024-3A
E,
10.258%,
(TSFR3M
+
6.400%),
07/25/2036
355,987
0.4
250,000
(3)(4)
Carlyle
US
CLO
Ltd.
2024-7A
E,
9.405%,
(TSFR3M
+
5.500%),
01/15/2037
252,518
0.3
500,000
(3)(4)
Elmwood
CLO
33
Ltd.
2024-9RA
ER,
10.973%,
(TSFR3M
+
5.850%),
10/21/2037
487,468
0.5
500,000
(3)(4)
Harmony-Peace
Park
CLO
Ltd.
2024-1A
E,
10.248%,
(TSFR3M
+
5.700%),
10/20/2037
507,462
0.5
450,000
(3)(4)
Neuberger
Berman
Loan
Advisers
Clo
44
Ltd.
2021-44A
DR,
6.544%,
(TSFR3M
+
2.650%),
10/16/2035
451,206
0.5
Principal
Amount†
Value
Percentage
of
Net
Assets
ASSET-BACKED
SECURITIES:
(continued)
Other
Asset-Backed
Securities:
(continued)
250,000
(3)(4)
Octagon
71
Ltd.
2024-1A
D1,
7.534%,
(TSFR3M
+
3.650%),
04/18/2037
$
251,100
0.2
250,000
(3)(4)
Octagon
71
Ltd.
2024-1A
E,
10.634%,
(TSFR3M
+
6.750%),
04/18/2037
251,301
0.3
250,000
(3)(4)
Sixth
Street
CLO
XXIV
Ltd.
2024-24A
D,
7.460%,
(TSFR3M
+
3.600%),
04/23/2037
251,571
0.3
250,000
(3)(4)
Sixth
Street
CLO
XXIV
Ltd.
2024-24A
E,
10.510%,
(TSFR3M
+
6.650%),
04/23/2037
252,799
0.3
500,000
(3)(4)
Symphony
CLO
44
Ltd.
2024-44A
E,
10.062%,
(TSFR3M
+
6.150%),
07/14/2037
506,282
0.5
5,064,749
5.3
Total
Asset-Backed
Securities
(Cost
$5,046,374)
5,064,749
5.3
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK
:
0.1%
Business
Equipment
&
Services
:
0.0%
13,045
(5)
Yak
Access
LLC
Series
A
131
0.0
1,333
(5)
Yak
Access
LLC
Series
B
13
0.0
144
0.0
Consumer
Discretionary
:
0.1%
549,518
(5)(6)
24
Hour
Fitness
Worldwide,
Inc.
4,396
0.0
42,856
(5)(6)
Anchor
Hocking
Holdings
428
0.0
169
(5)(6)
Travelport
Tech
Ltd.
56,556
0.1
61,380
0.1
Total
Common
Stock
(Cost
$1,223,572)
61,524
0.1
Total
Long-Term
Investments
(Cost
$129,991,576)
129,762,386
135.7
PORTFOLIO
OF
INVESTMENTS
as
of
November
30,
2025
(Unaudited)
(continued)
Shares
RA
Value
Percentage
of
Net
Assets
SHORT-TERM
INVESTMENTS
:
0.8%
Mutual
Funds
:
0.8%
728,882
(7)
BlackRock
Liquidity
Funds,
FedFund,
Institutional
Class,
3.880%
(Cost
$728,882)
$
728,882
0.8
Total
Short-Term
Investments
(Cost
$728,882)
$
728,882
0.8
Total
Investments
in
Securities
(Cost
$130,720,458)
$
130,491,268
136.5
Liabilities
in
Excess
of
Other
Assets
(34,875,583)
(36.5)
Net
Assets
$
95,615,685
100.0
*
Senior
Loans,
while
exempt
from
registration
under
the
Securities
Act
of
1933,
as
amended,
contain
certain
restrictions
on
resale
and
cannot
be
sold
publicly.
These
senior
loans
bear
interest
(unless
otherwise
noted)
at
rates
that
float
periodically
at
a
margin
above
the
Secured
Overnight
Financing
Rate
("SOFR")
and
other
short-
term
rates.
†
Unless
otherwise
indicated,
principal
amount
is
shown
in
USD.
(1)
Contract
rates
that
are
not
disclosed
do
not
take
effect
until
settlement
date
and
have
yet
to
be
determined.
(2)
All
or
a
portion
of
this
holding
is
subject
to
unfunded
loan
commitments.
(3)
Securities
with
purchases
pursuant
to
Rule
144A
or
section
4(a)(2),
under
the
Securities
Act
of
1933
and
may
not
be
resold
subject
to
that
rule
except
to
qualified
institutional
buyers.
(4)
Variable
rate
security.
Rate
shown
is
the
rate
in
effect
as
of
November
30,
2025.
(5)
For
fair
value
measurement
disclosure
purposes,
security
is
categorized
as
Level
3,
whose
value
was
determined
using
significant
unobservable
inputs.
(6)
Non-income
producing
security.
(7)
Rate
shown
is
the
7-day
yield
as
of
November
30,
2025.
Reference
Rate
Abbreviations:
SOFRRATE
1-day
Secured
Overnight
Financing
Rate
TSFR1M
1-month
CME
Term
Secured
Overnight
Financing
Rate
TSFR3M
3-month
CME
Term
Secured
Overnight
Financing
Rate
TSFR6M
6-month
CME
Term
Secured
Overnight
Financing
Rate
PORTFOLIO
OF
INVESTMENTS
as
of
November
30,
2025
(Unaudited)
(continued)
Fair
Value
Measurements
The
following
is
a
summary
of
the
fair
valuations
according
to
the
inputs
used
as
of
November
30,
2025
in
valuing
the
assets
and
liabilities:
Quoted
Prices
in
Active
Markets
for
Identical
Investments
(Level
1)
Significant
Other
Observable
Inputs
(Level
2)
Significant
Unobservable
Inputs
(Level
3)
Fair
Value
at
November
30,
2025
Asset
Table
Investments,
at
fair
value
Senior
Loans
$
—
$
70,004,942
$
—
$
70,004,942
Corporate
Bonds/Notes
—
54,631,171
—
54,631,171
Asset-Backed
Securities
—
5,064,749
—
5,064,749
Common
Stock
—
—
61,524
61,524
Short-Term
Investments
728,882
—
—
728,882
Total
Investments,
at
fair
value
$
728,882
$
129,700,862
$
61,524
$
130,491,268
Net
unrealized
depreciation
consisted
of:
Gross
Unrealized
Appreciation
$
1,537,861
Gross
Unrealized
Depreciation
(1,767,051)
Net
Unrealized
Depreciation
$
(229,190)