soi202604303.htm - Generated by SEC Publisher for SEC Filing

Consumer Discretionary (18.4%)
ACCO BRANDS CORP 144A 4.250% 03/15/2029	110,000	98,233
ACUSHNET CO. 144A 5.625% 12/01/2033 CALLABLE @ 102.813 12/01/2028	10,000	10,047
ADIENT GLOBAL HOLDINGS LTD 144A 7.000% 04/15/2028 CALLABLE @ 100.000 04/15/2027	3,000	3,052
ADIENT GLOBAL HOLDINGS LTD 144A 8.250% 04/15/2031 CALLABLE @ 102.063 04/15/2027	177,000	184,495
ADIENT GLOBAL HOLDINGS LTD 144A 7.500% 02/15/2033 CALLABLE @ 103.750 02/15/2028	63,000	64,447
AMERICAN AXLE & MANUFACTURING INC 6.875% 07/01/2028	54,000	54,062
ASBURY AUTOMOTIVE GROUP INC 4.500% 03/01/2028	87,000	86,110
ASBURY AUTOMOTIVE GROUP INC 4.750% 03/01/2030 CALLABLE @ 100.792 03/01/2027	11,000	10,711
ASBURY AUTOMOTIVE GROUP INC 144A 4.625% 11/15/2029 CALLABLE @ 100.000 11/15/2026	20,000	19,461
AVIS BUDGET CAR RENTAL LLC 144a 5.750% 07/15/2027	44,000	43,974
AVIS BUDGET CAR RENTAL LLC 144A 5.375% 03/01/2029	183,000	177,840
AVIS BUDGET CAR RENTAL LLC 144A 4.750% 04/01/2028	65,000	63,437
AVIS BUDGET CAR RENTAL LLC 144A 8.250% 01/15/2030 CALLABLE @ 102.063 01/15/2027	107,000	109,728
AVIS BUDGET CAR RENTAL LLC / AVIS BUDGET FINANCE, 144A 8.375% 06/15/2032 CALLABLE @ 104.188 06/15/2028	51,000	51,256
BOYNE USA INC 144A 4.750% 05/15/2029 CALLABLE @ 100.000 05/15/2026	86,000	84,082
BUILDERS FIRSTSOURCE INC 144A 5.000% 03/01/2030 CALLABLE @ 100.833 03/01/2027	14,000	13,700
BUILDERS FIRSTSOURCE INC 144A 4.250% 02/01/2032 CALLABLE @ 102.125 08/01/2026	94,000	87,241
BUILDERS FIRSTSOURCE INC 144A 6.375% 06/15/2032 CALLABLE @ 103.188 06/15/2027	69,000	69,437
BUILDERS FIRSTSOURCE INC 144A 6.375% 03/01/2034 CALLABLE @ 103.188 03/01/2029	40,000	39,915
BUILDERS FIRSTSOURCE, INC. 144A 6.750% 05/15/2035 CALLABLE @ 103.375 05/15/2030	27,000	27,266
CHURCHILL DOWNS, INC. 144A 5.750% 04/01/2030 CALLABLE @ 100.000 04/01/2027	20,000	19,932
CD&R SMOKEY BUYER INC / RADIO SYSTEMS CORP 144A 9.500% 10/15/2029 CALLABLE @ 104.750 10/15/2026	70,000	58,364
CAESARS ENTERTAINMENT, INC. 144A 7.000% 02/15/2030 CALLABLE @ 101.750 02/15/2027	54,000	54,770
CAESARS ENTERTAINMENT INC 144A 6.500% 02/15/2032 CALLABLE @ 103.250 02/15/2027	167,000	162,175
CARNIVAL CORP. 144A 4.000% 08/01/2028 CALLABLE @ 100.000 05/01/2028	19,000	18,560
CARNIVAL CORP 144A 7.000% 08/15/2029 CALLABLE @ 103.500 08/15/2026	29,000	30,106
CARNIVAL CORP 144A 6.125% 02/15/2033 CALLABLE @ 103.063 02/15/2028	90,000	91,247
CARNIVAL CORP. 144A 5.750% 03/15/2030 CALLABLE @ 100.000 12/15/2029	40,000	40,570
CARNIVAL CORP. 144A 5.875% 06/15/2031 CALLABLE @ 100.000 03/15/2031	10,000	10,141
CARNIVAL CORP. 144A 5.750% 08/01/2032 CALLABLE @ 100.000 05/01/2032	116,000	116,568
CHURCHILL DOWNS INC 144A 4.750% 01/15/2028	30,000	29,717
CINEMARK USA INC 144A 5.250% 07/15/2028 CALLABLE @ 100.000 07/15/2026	45,000	44,827
CINEMARK USA INC 144A 7.000% 08/01/2032 CALLABLE @ 103.500 08/01/2027	20,000	20,668
CLARIOS GLOBAL LP / CLARIOS US FINANCE CO 144A 6.750% 05/15/2028 CALLABLE @ 101.688 05/15/2026	82,000	83,347
CLARIOS GLOBAL LP / CLARIOS US FINANCE CO 144A 6.750% 02/15/2030 CALLABLE @ 103.375 02/15/2027	47,000	48,573
CLARIOS GLOBAL LP / CLARIOS US FINANCE CO. 144A 6.750% 09/15/2032 CALLABLE @ 103.375 09/15/2028	58,000	59,318
COOPER-STANDARD AUTOMOTIVE, INC. 144A 9.250% 03/01/2031 CALLABLE @ 104.625 03/01/2028	218,000	209,474
DEXKO GLOBAL, INC. 144A 7.500% 04/15/2032 CALLABLE @ 103.750 04/15/2028	113,300	101,766
FORD MOTOR CREDIT CO LLC 7.122% 11/07/2033 CALLABLE @ 100.000 08/07/2033	200,000	212,219
FORD MOTOR CREDIT CO LLC 5.730% 09/05/2030 CALLABLE @ 100.000 08/05/2030	25,000	25,196
GAP INC/THE 144A 3.625% 10/01/2029 CALLABLE @ 100.000 10/01/2026	113,000	106,394
GOODYEAR TIRE & RUBBER CO/THE 5.250% 04/30/2031 CALLABLE @ 100.000 01/30/2031	31,000	28,209
GOODYEAR TIRE & RUBBER CO/THE 5.000% 07/15/2029 CALLABLE @ 100.000 04/15/2029	131,000	125,644
GOODYEAR TIRE & RUBBER CO/THE 5.250% 07/15/2031 CALLABLE @ 100.000 04/15/2031	82,000	74,436
GOODYEAR TIRE & RUBBER CO/THE 6.625% 07/15/2030 CALLABLE @ 103.313 07/15/2027	16,000	15,840
GRIFFON CORP 5.750% 03/01/2028	135,000	134,672
GROUP 1 AUTOMOTIVE INC 144A 6.375% 01/15/2030 CALLABLE @ 103.188 07/15/2026	26,000	26,412
HERTZ CORP/THE 144A 4.625% 12/01/2026	41,000	39,592
HERTZ CORP/THE 144A 5.000% 12/01/2029 CALLABLE @ 100.000 12/01/2026	210,000	103,425
HERTZ CORP/THE 144A 12.625% 07/15/2029 CALLABLE @ 106.313 07/15/2027	127,000	119,710
+^(2)ESC GCB HERTZ CORP	25,000	2
+^(2)ESC HERTZ CORP	148,000	15
+^(2)ESC HERTZ CORP	80,000	8
+^(2)ESC HERTZ CORP	20,000	2
HILTON DOMESTIC OPERATING CO INC 144A 5.875% 04/01/2029 CALLABLE @ 101.469 04/01/2027	27,000	27,370
HILTON DOMESTIC OPERATING CO INC 144A 6.125% 04/01/2032 CALLABLE @ 103.063 04/01/2027	27,000	27,507
HILTON DOMESTIC OPERATING CO INC 144A 5.875% 03/15/2033 CALLABLE @ 102.938 03/15/2028	74,000	74,908
HILTON DOMESTIC OPERATING CO, INC. 144A 5.750% 09/15/2033 CALLABLE @ 102.875 07/01/2028	72,000	72,460
HILTON DOMESTIC OPERATING CO., INC. 144A 5.500% 03/31/2034 CALLABLE @ 102.750 12/01/2028	14,000	13,896
HILTON WORLDWIDE FINANCE LLC 4.875% 04/01/2027	123,000	122,689
JELD-WEN INC 144A 4.875% 12/15/2027	145,000	107,983
JELD-WEN INC 144A 7.000% 09/01/2032 CALLABLE @ 103.500 09/01/2027	50,000	25,306
BATH & BODY WORKS INC 6.750% 07/01/2036	35,000	33,952
BATH & BODY WORKS INC 144A 6.625% 10/01/2030 CALLABLE @ 102.208 10/01/2026	30,000	30,397
LITHIA MOTORS, INC. 144A 4.625% 12/15/2027	20,000	19,905
LITHIA MOTORS, INC. 144A 5.500% 10/01/2030 CALLABLE @ 102.750 10/01/2027	20,000	19,894
LIVE NATION ENTERTAINMENT INC 144A 4.750% 10/15/2027	175,000	174,464
LIVE NATION ENTERTAINMENT INC 144A 6.500% 05/15/2027 CALLABLE @ 100.000 05/15/2026	308,000	308,137
LIVE NATION ENTERTAINMENT INC 144A 3.750% 01/15/2028 CALLABLE @ 100.000 01/15/2027	47,000	46,090
MGM RESORTS INTERNATIONAL 5.500% 04/15/2027 CALLABLE @ 100.000 01/15/2027	87,000	87,105
MGM RESORTS INTERNATIONAL 6.500% 04/15/2032 CALLABLE @ 103.250 04/15/2027	72,000	72,910
MGM RESORTS INTERNATIONAL 6.125% 09/15/2029 CALLABLE @ 103.063 09/15/2026	63,000	63,830
MIWD HOLDCO II LLC 144A 5.500% 02/01/2030 CALLABLE @ 100.000 02/01/2027	108,000	99,772
MARRIOTT OWNERSHIP RESORTS, INC. 144A 4.500% 06/15/2029 CALLABLE @ 100.000 06/15/2026	21,000	20,041
MASTERBRAND INC 144A 7.000% 07/15/2032 CALLABLE @ 103.500 07/15/2027	76,000	75,573
MITER BRANDS ACQUISITION HOLDCO INC 144A 6.750% 04/01/2032 CALLABLE @ 103.375 04/01/2027	76,000	75,142
NCL CORP. LTD 144A 5.875% 01/15/2031 CALLABLE @ 102.938 09/15/2027	32,000	31,146
NEWELL BRANDS INC 6.875% 04/01/2036 CALLABLE @ 100.000 10/01/2035	65,000	61,900
NEWELL BRANDS INC 6.375% 09/15/2027 CALLABLE @ 100.000 06/15/2027	20,000	20,122
NEWELL BRANDS INC 6.625% 09/15/2029 CALLABLE @ 100.000 06/15/2029	34,000	33,978
NEWELL BRANDS INC 6.625% 05/15/2032 CALLABLE @ 100.000 02/15/2032	14,000	13,580
NEWELL BRANDS INC 6.375% 05/15/2030 CALLABLE @ 100.000 02/15/2030	53,000	51,906
NEWELL BRANDS, INC. 144A 8.500% 06/01/2028 CALLABLE @ 100.000 03/01/2028	40,000	41,793
PM GENERAL PURCHASER LLC 144A 9.500% 10/01/2028	40,000	37,154
PETCO HEALTH & WELLNESS CO., INC. 144A 8.250% 02/01/2031 CALLABLE @ 104.125 02/01/2028	87,000	87,735
QUEEN MERGERCO, INC. 144A 6.750% 04/30/2032 CALLABLE @ 103.375 04/30/2028	78,000	79,415
RIVERS ENTERPRISE LENDER LLC / RIVERS ENTERPRISE 144A 6.250% 10/15/2030 CALLABLE @ 103.125 10/15/2027	14,000	14,241
ROYAL CARIBBEAN CRUISES LTD 144A 6.250% 03/15/2032 CALLABLE @ 103.125 03/15/2027	88,000	89,981
ROYAL CARIBBEAN CRUISES LTD. 144A 6.000% 02/01/2033 CALLABLE @ 103.000 08/01/2027	63,000	63,970
ROYAL CARIBBEAN CRUISES LTD 144A 5.625% 09/30/2031 CALLABLE @ 102.813 09/30/2027	52,000	52,673
SCOTTS MIRACLE-GRO CO/THE 5.250% 12/15/2026	135,000	134,952
SCOTTS MIRACLE-GRO CO/THE 4.500% 10/15/2029 CALLABLE @ 100.750 10/15/2026	14,000	13,678
SCOTTS MIRACLE-GRO CO/THE 4.375% 02/01/2032 CALLABLE @ 102.188 08/01/2026	56,000	52,249
SCOTTS MIRACLE-GRO CO/THE 4.000% 04/01/2031 CALLABLE @ 101.333 04/01/2027	111,000	103,242
SERVICE CORP INTERNATIONAL/US 3.375% 08/15/2030 CALLABLE @ 101.125 08/15/2026	77,000	71,464
SERVICE CORP INTERNATIONAL/US 4.000% 05/15/2031 CALLABLE @ 102.000 05/15/2026	19,000	17,911
SIX FLAGS ENTERTAINMENT CORP/DE 144A 7.250% 05/15/2031 CALLABLE @ 103.625 05/15/2026	49,000	48,307
SIX FLAGS ENTERTAINMENT CORP 144A 6.625% 05/01/2032 CALLABLE @ 103.313 05/01/2027	194,000	197,450
SIX FLAGS ENTERTAINMENT CORP/CANADA'S WONDERLAND 144A 8.625% 01/15/2032 CALLABLE @ 104.313 07/15/2028	97,000	98,584
SONIC AUTOMOTIVE INC 144A 4.625% 11/15/2029 CALLABLE @ 100.000 11/15/2026	127,000	124,162
SONIC AUTOMOTIVE INC 144A 4.875% 11/15/2031 CALLABLE @ 102.438 11/15/2026	5,000	4,807
STAPLES INC 144A 10.750% 09/01/2029 CALLABLE @ 105.375 09/01/2026	208,000	198,642
STAPLES INC 144A 12.750% 01/15/2030 CALLABLE @ 106.375 06/15/2027	87,863	66,018
STATION CASINOS LLC 144A 4.500% 02/15/2028	165,000	162,360
STATION CASINOS LLC 144A 4.625% 12/01/2031 CALLABLE @ 100.000 06/01/2031	36,000	33,865
STATION CASINOS LLC 144A 6.625% 03/15/2032 CALLABLE @ 103.313 03/15/2027	6,000	6,074
TEMPUR SEALY INTERNATIONAL INC 144A 4.000% 04/15/2029	177,000	171,137
TEMPUR SEALY INTERNATIONAL INC 144A 3.875% 10/15/2031 CALLABLE @ 101.938 10/15/2026	34,000	31,441
VAIL RESORTS INC 144A 6.500% 05/15/2032 CALLABLE @ 103.250 05/15/2027	63,000	64,289
VAIL RESORTS, INC. 144A 5.625% 07/15/2030 CALLABLE @ 102.813 07/15/2027	34,000	33,797
VIKING CRUISES LTD. 144A 5.875% 10/15/2033 CALLABLE @ 102.938 10/15/2028	61,000	61,148
WAND NEWCO 3 INC 144A 7.625% 01/30/2032 CALLABLE @ 103.813 01/30/2027	67,000	69,689
WAYFAIR LLC 144A 7.250% 10/31/2029 CALLABLE @ 103.625 10/31/2026	36,000	36,892
WAYFAIR LLC 144A 7.750% 09/15/2030 CALLABLE @ 103.875 09/15/2027	73,000	75,932
WAYFAIR, INC. 144A 6.750% 11/15/2032 CALLABLE @ 103.375 11/15/2028	50,000	50,556
WEEKLEY HOMES LLC / WEEKLEY FINANCE CORP 144A 4.875% 09/15/2028 CALLABLE @ 100.000 09/15/2026	49,000	47,907
WYNN LAS VEGAS LLC 144A 5.250% 05/15/2027 CALLABLE @ 100.000 02/15/2027	25,000	25,022
WYNN RESORTS FINANCE LLC 144A 5.125% 10/01/2029 CALLABLE @ 100.000 07/01/2029	241,000	239,082
WYNN RESORTS FINANCE LLC 144A 6.250% 03/15/2033 CALLABLE @ 103.125 09/15/2027	41,000	41,196
		8,071,171
Consumer Staples (3.1%)
ALBERTSONS COS INC / SAFEWAY INC 144A 4.875% 02/15/2030 CALLABLE @ 101.219 02/15/2027	30,000	29,362
ALBERTSONS COS, INC. 144A 5.500% 03/31/2031 CALLABLE @ 102.750 11/15/2027	14,000	13,902
ALBERTSONS COS, INC. 144A 5.625% 03/31/2032 CALLABLE @ 102.813 03/31/2028	65,000	64,113
CENTRAL GARDEN & PET CO 5.125% 02/01/2028	191,000	190,137
CENTRAL GARDEN & PET CO 4.125% 10/15/2030 CALLABLE @ 101.375 10/15/2026	49,000	46,300
CENTRAL GARDEN & PET CO. 144A 4.125% 04/30/2031 CALLABLE @ 101.375 04/30/2027	8,000	7,504
COTY INC/HFC PRESTIGE PRODUCTS INC 144A 4.750% 01/15/2029 CALLABLE @ 100.000 01/15/2027	10,000	9,686
EDGEWELL PERSONAL CARE CO 144A 5.500% 06/01/2028	110,000	109,728
EDGEWELL PERSONAL CARE CO 144A 4.125% 04/01/2029	60,000	57,330
ENERGIZER HOLDINGS INC 144A 4.750% 06/15/2028	160,000	158,190
ENERGIZER HOLDINGS INC 144A 4.375% 03/31/2029	69,000	66,366
ENERGIZER HOLDINGS INC 144A 6.000% 09/15/2033 CALLABLE @ 103.000 09/15/2028	5,000	4,781
LAMB WESTON HOLDINGS INC 144A 4.125% 01/31/2030 CALLABLE @ 100.000 01/31/2027	94,000	90,000
PERFORMANCE FOOD GROUP, INC. 144A 4.250% 08/01/2029 CALLABLE @ 100.000 08/01/2026	95,000	92,102
PERFORMANCE FOOD GROUP INC 144A 6.125% 09/15/2032 CALLABLE @ 103.063 09/15/2027	21,000	21,285
PERFORMANCE FOOD GROUP, INC. 144A 5.625% 03/01/2034 CALLABLE @ 102.813 03/01/2029	30,000	29,369
POST HOLDINGS INC 144A 4.625% 04/15/2030 CALLABLE @ 100.771 04/15/2027	23,000	22,337
POST HOLDINGS INC 144A 6.250% 02/15/2032 CALLABLE @ 103.125 02/15/2027	82,000	83,563
PRIMO WATER HOLDINGS, INC. / TRITON WATER 144A 6.250% 04/01/2029	142,000	142,169
SPECTRUM BRANDS INC 144A 3.875% 03/15/2031 CALLABLE @ 101.292 03/15/2027	5,000	4,374
US FOODS INC 144A 4.750% 02/15/2029	15,000	14,835
US FOODS INC 144A 4.625% 06/01/2030 CALLABLE @ 101.156 06/01/2026	68,000	66,492
US FOODS INC 144A 6.875% 09/15/2028 CALLABLE @ 101.719 09/15/2026	24,000	24,504
		1,348,429
Energy (10.2%)
AETHON UNITED BR LP / AETHON UNITED FINANCE CORP 144A 7.500% 10/01/2029 CALLABLE @ 103.750 10/01/2026	13,000	13,580
ANTERO MIDSTREAM PARTNERS LP 144A 5.750% 01/15/2028	100,000	99,990
ANTERO MIDSTREAM PARTNERS LP 144A 5.375% 06/15/2029 CALLABLE @ 100.000 06/15/2026	101,000	100,916
ANTERO MIDSTREAM PARTNERS LP / ANTERO MIDSTREAM 144A 5.750% 10/15/2033 CALLABLE @ 102.875 10/15/2028	32,000	31,937
ARCHROCK SERVICES LP / ARCHROCK PARTNERS FINANCE 144A 6.000% 02/01/2034 CALLABLE @ 103.000 02/01/2029	14,000	14,084
ARCHROCK PARTNERS LP 144A 6.625% 09/01/2032 CALLABLE @ 103.313 09/01/2027	34,000	34,985
ASCENT RESOURCES UTICA HOLDINGS LLC/ 144A 5.875% 06/30/2029 CALLABLE @ 100.000 09/01/2026	22,000	22,025
ASCENT RESOURCES UTICA HOLDINGS LLC 144A 6.625% 10/15/2032 CALLABLE @ 103.313 10/15/2027	30,000	30,780
ASCENT RESOURCES UTICA HOLDINGS LLC / ARU 144A 6.625% 07/15/2033 CALLABLE @ 103.313 07/15/2028	33,000	33,904
BLUE RACER MIDSTREAM LLC / BLUE RACER FINANCE CORP 144A 7.000% 07/15/2029 CALLABLE @ 103.500 07/15/2026	30,000	31,063
BLUE RACER MIDSTREAM LLC / BLUE RACER FINANCE CORP 144A 7.250% 07/15/2032 CALLABLE @ 103.625 07/15/2027	22,000	23,005
BUCKEYE PARTNERS LP 3.950% 12/01/2026 CALLABLE @ 100.000 09/01/2026	96,000	95,286
BUCKEYE PARTNERS LP 4.125% 12/01/2027 CALLABLE @ 100.000 09/01/2027	15,000	14,740
BUCKEYE PARTNERS LP 144A 4.500% 03/01/2028 CALLABLE @ 100.000 12/01/2027	40,000	39,630
BUCKEYE PARTNERS LP 144A 6.750% 02/01/2030 CALLABLE @ 103.375 02/01/2027	75,000	77,578
CNX RESOURCES CORP 144A 7.375% 01/15/2031 CALLABLE @ 101.844 01/15/2027	40,000	41,208
CNX RESOURCES CORP 144A 5.875% 03/01/2034 CALLABLE @ 102.938 03/01/2029	25,000	24,799
CNX MIDSTREAM PARTNERS LP 144A 4.750% 04/15/2030 CALLABLE @ 100.000 04/15/2027	16,000	15,483
CATURUS ENERGY LLC 144A 7.125% 05/15/2031 CALLABLE @ 103.563 05/15/2028	20,000	20,068
+^(2)ESC CB CHESAPEAKE ENERGY CORP	15,000	-
CIVITAS RESOURCES INC 144A 8.750% 07/01/2031 CALLABLE @ 104.375 07/01/2026	117,000	122,730
SM ENERGY CO. 144A 8.625% 11/01/2030 CALLABLE @ 104.313 11/01/2026	38,000	40,188
CIVITAS RESOURCES, INC. 144A 9.625% 06/15/2033 CALLABLE @ 104.813 06/15/2028	59,000	65,737
COMSTOCK RESOURCES INC 144A 6.750% 03/01/2029 CALLABLE @ 100.000 03/01/2027	151,000	150,864
COMSTOCK RESOURCES INC 144A 5.875% 01/15/2030 CALLABLE @ 100.979 01/15/2027	46,000	44,558
DIAMOND FOREIGN ASSET CO / DIAMOND FINANCE LLC 144A 8.500% 10/01/2030 CALLABLE @ 104.250 10/01/2026	56,000	59,029
EQT CORP. 7.500% 06/01/2030 CALLABLE @ 100.000 12/01/2029	6,000	6,516
EQT CORP. 4.750% 01/15/2031 CALLABLE @ 100.000 07/15/2030	54,000	53,729
PERMIAN RESOURCES OPERATING LLC 144A 9.875% 07/15/2031 CALLABLE @ 104.938 07/15/2026	90,000	95,231
GENESIS ENERGY LP / GENESIS ENERGY FINANCE CORP 8.875% 04/15/2030 CALLABLE @ 102.219 04/15/2027	38,000	39,807
GENESIS ENERGY LP / GENESIS ENERGY FINANCE CORP 7.875% 05/15/2032 CALLABLE @ 103.938 05/15/2027	15,000	15,726
GENESIS ENERGY LP / GENESIS ENERGY FINANCE CORP 6.750% 03/15/2034 CALLABLE @ 103.375 03/15/2029	27,000	27,192
GULFPORT ENERGY OPERATING CORP 144A 6.750% 09/01/2029 CALLABLE @ 103.375 09/01/2026	90,000	92,324
HARVEST MIDSTREAM I LP 144A 7.500% 05/15/2032 CALLABLE @ 103.750 05/15/2027	35,000	36,440
HESS MIDSTREAM OPERATIONS LP 144A 4.250% 02/15/2030 CALLABLE @ 100.000 02/15/2027	47,000	45,600
HESS MIDSTREAM OPERATIONS LP 144A 6.500% 06/01/2029 CALLABLE @ 103.250 06/01/2026	38,000	38,932
HESS MIDSTREAM OPERATIONS LP 144A 5.875% 03/01/2028 CALLABLE @ 101.469 03/01/2027	18,000	18,177
HESS MIDSTREAM OPERATIONS LP 144A 5.125% 06/15/2028 CALLABLE @ 100.000 06/15/2026	55,000	54,745
+^(2)ESC CB11A HIGH RIDGE	60,000	-
HILCORP ENERGY I LP / HILCORP FINANCE CO 144A 6.000% 04/15/2030 CALLABLE @ 101.000 04/15/2027	29,000	28,882
HILCORP ENERGY I LP / HILCORP FINANCE CO 144A 6.250% 04/15/2032 CALLABLE @ 103.125 05/15/2027	23,000	22,848
HILCORP ENERGY I LP / HILCORP FINANCE CO 144A 6.875% 05/15/2034 CALLABLE @ 103.438 05/15/2029	5,000	5,023
HOWARD MIDSTREAM ENERGY PARTNERS LLC 144A 7.375% 07/15/2032 CALLABLE @ 103.688 07/15/2027	71,000	74,054
HOWARD MIDSTREAM ENERGY PARTNERS LLC 144A 6.625% 01/15/2034 CALLABLE @ 103.313 01/15/2029	53,000	53,910
CRESCENT ENERGY FINANCE LLC 144A 7.625% 04/01/2032 CALLABLE @ 103.813 04/01/2027	96,000	98,849
CRESCENT ENERGY FINANCE LLC 144A 7.375% 01/15/2033 CALLABLE @ 103.688 07/15/2027	59,000	60,392
CRESCENT ENERGY FINANCE LLC 144A 8.375% 01/15/2034 CALLABLE @ 104.188 07/15/2028	40,000	42,270
INFINITY NATURAL RESOURCES LLC 144A 7.625% 04/01/2031 CALLABLE @ 103.813 04/01/2028	17,000	17,297
KINETIK HOLDINGS LP 144A 5.875% 06/15/2030 CALLABLE @ 101.469 06/15/2026	40,000	40,136
KINETIK HOLDINGS LP 144A 6.625% 12/15/2028 CALLABLE @ 101.656 12/15/2026	25,000	25,500
KODIAK GAS SERVICES LLC 144A 6.500% 10/01/2033 CALLABLE @ 103.250 10/01/2028	20,000	20,455
KODIAK GAS SERVICES LLC 144A 5.875% 04/01/2031 CALLABLE @ 102.938 04/01/2028	20,000	20,145
VITAL ENERGY INC 144A 7.875% 04/15/2032 CALLABLE @ 103.938 04/15/2027	86,000	89,151
MATADOR RESOURCES CO 144A 6.500% 04/15/2032 CALLABLE @ 103.250 04/15/2027	38,000	38,795
MATADOR RESOURCES CO 144A 6.250% 04/15/2033 CALLABLE @ 103.125 04/15/2028	60,000	61,013
MATADOR RESOURCES CO. 144A 6.000% 04/15/2034 CALLABLE @ 103.000 04/15/2029	27,000	27,102
NGL ENERGY OPERATING LLC 144A 8.125% 02/15/2029 CALLABLE @ 102.031 02/15/2027	44,000	45,650
NGL ENERGY OPERATING LLC 144A 8.375% 02/15/2032 CALLABLE @ 104.188 02/15/2027	46,000	48,280
NOBLE FINANCE II LLC 144A 8.000% 04/15/2030 CALLABLE @ 102.000 04/15/2027	39,000	40,563
NORTHRIVER MIDSTREAM FINANCE LP 144A 6.750% 07/15/2032 CALLABLE @ 103.375 07/15/2027	23,000	23,549
NUSTAR LOGISTICS LP 5.625% 04/28/2027 CALLABLE @ 100.000 01/28/2027	30,000	30,106
NUSTAR LOGISTICS LP 6.375% 10/01/2030 CALLABLE @ 100.000 04/01/2030	86,000	89,395
CHORD ENERGY CORP. 144A 6.750% 03/15/2033 CALLABLE @ 103.375 03/15/2028	35,000	36,408
CHORD ENERGY CORP. 144A 6.000% 10/01/2030 CALLABLE @ 103.000 10/01/2027	75,000	76,445
PERMIAN RESOURCES OPERATING LLC 144A 7.000% 01/15/2032 CALLABLE @ 103.500 01/15/2027	39,000	40,568
PERMIAN RESOURCES OPERATING LLC 144A 6.250% 02/01/2033 CALLABLE @ 103.125 08/01/2027	42,000	42,980
PRAIRIE ACQUIROR LP 144A 9.000% 08/01/2029 CALLABLE @ 102.250 02/01/2027	27,000	28,191
ROCKIES EXPRESS PIPELINE LLC 144A 6.750% 03/15/2033 CALLABLE @ 103.375 03/15/2028	29,000	30,269
SM ENERGY CO 6.750% 09/15/2026	120,000	120,044
SM ENERGY CO 6.625% 01/15/2027	50,000	50,003
SM ENERGY CO 6.500% 07/15/2028 CALLABLE @ 100.000 07/15/2026	11,000	11,030
SM ENERGY CO 144A 7.000% 08/01/2032 CALLABLE @ 103.500 08/01/2027	19,000	19,504
SM ENERGY CO. 144A 6.625% 04/15/2034 CALLABLE @ 103.313 04/15/2029	43,000	43,593
EXPAND ENERGY CORP 5.375% 02/01/2029	6,000	5,998
EXPAND ENERGY CORP 4.750% 02/01/2032 CALLABLE @ 102.375 02/01/2027	12,000	11,772
SUNOCO LP 144A 7.000% 05/01/2029 CALLABLE @ 103.500 05/01/2026	25,000	25,817
SUNOCO LP 144A 5.375% 07/15/2031 CALLABLE @ 102.688 03/15/2028	24,000	23,887
SUNOCO LP / SUNOCO FINANCE CORP 4.500% 05/15/2029 CALLABLE @ 100.750 05/15/2026	124,000	121,764
SUNOCO LP / SUNOCO FINANCE CORP 4.500% 04/30/2030 CALLABLE @ 100.000 04/30/2027	65,000	63,226
TALLGRASS ENERGY PTRS LP/TALLGRASS ENERGY FIN CORP 144A 5.500% 01/15/2028	35,000	34,915
TALLGRASS ENERGY PARTNERS LP 144A 6.000% 12/31/2030 CALLABLE @ 102.000 12/31/2026	70,000	70,369
TALLGRASS ENERGY PARTNERS LP 144A 6.000% 09/01/2031 CALLABLE @ 103.000 09/01/2026	100,000	100,538
TALLGRASS ENERGY PARTNERS LP 144A 7.375% 02/15/2029 CALLABLE @ 101.844 02/15/2027	32,000	32,963
TALLGRASS ENERGY PARTNERS LP / TALLGRASS ENERGY 144A 6.750% 03/15/2034 CALLABLE @ 103.375 03/15/2029	92,000	94,125
TRANSOCEAN INC 144A 8.750% 02/15/2030 CALLABLE @ 102.188 02/15/2027	18,900	19,794
TRANSOCEAN INC 144A 8.250% 05/15/2029 CALLABLE @ 104.125 05/15/2026	55,000	57,101
VALARIS LTD 144A 8.375% 04/30/2030 CALLABLE @ 102.094 04/30/2027	25,000	26,069
VENTURE GLOBAL PLAQUEMINES LNG LLC 144A 7.750% 05/01/2035 CALLABLE @ 100.000 12/01/2034	16,000	17,994
VENTURE GLOBAL PLAQUEMINES LNG LLC 144A 6.500% 01/15/2034 CALLABLE @ 100.000 07/15/2033	51,000	53,418
VENTURE GLOBAL PLAQUEMINES LNG LLC 144A 6.125% 12/15/2030 CALLABLE @ 100.000 09/15/2030	41,000	42,286
VENTURE GLOBAL PLAQUEMINES LNG LLC 144A 6.500% 06/15/2034 CALLABLE @ 100.000 12/15/2033	28,000	29,301
VENTURE GLOBAL CALCASIEU PASS LLC 144A 6.000% 05/01/2036 CALLABLE @ 100.000 11/01/2035	10,000	10,060
VENTURE GLOBAL LNG INC 144A 8.125% 06/01/2028 CALLABLE @ 102.031 06/01/2026	41,000	41,952
VENTURE GLOBAL LNG INC 144A 8.375% 06/01/2031 CALLABLE @ 104.188 06/01/2026	24,000	25,021
VENTURE GLOBAL LNG INC 144A 9.500% 02/01/2029 CALLABLE @ 100.000 11/01/2028	93,000	101,486
VENTURE GLOBAL LNG INC 144A 9.875% 02/01/2032 CALLABLE @ 104.938 02/01/2027	100,000	107,272
WBI OPERATING LLC 144A 6.250% 10/15/2030 CALLABLE @ 103.125 10/15/2027	52,000	52,780
		4,444,894
Financials (1.3%)
ASURION LLC AND ASURION CO-ISSUER, INC. 144A 8.000% 12/31/2032 CALLABLE @ 104.000 12/31/2028	56,000	58,491
COINBASE GLOBAL INC 144A 3.625% 10/01/2031 CALLABLE @ 101.813 10/01/2026	20,000	17,571
ONEMAIN FINANCE CORP 4.000% 09/15/2030 CALLABLE @ 101.333 09/15/2026	18,000	16,555
ONEMAIN FINANCE CORP 3.500% 01/15/2027	20,000	19,734
ROCKET MORTGAGE LLC 144A 3.625% 03/01/2029	86,000	82,538
ROCKET COS, INC. 144A 6.125% 08/01/2030 CALLABLE @ 103.063 08/01/2027	69,000	70,029
ROCKET COS, INC. 144A 6.375% 08/01/2033 CALLABLE @ 103.188 08/01/2028	38,000	38,460
ROCKET COS, INC. 144A 7.125% 02/01/2032 CALLABLE @ 103.563 02/01/2027	36,000	37,210
ROCKET MORTGAGE LLC 144A 2.875% 10/15/2026	54,000	53,496
ROCKET MORTGAGE LLC 144A 4.000% 10/15/2033 CALLABLE @ 102.000 10/15/2027	9,000	8,124
ONEMAIN FINANCE CORP 6.625% 01/15/2028 CALLABLE @ 100.000 07/15/2027	24,000	24,340
SPRINGLEAF FINANCE CORP. 5.375% 11/15/2029 CALLABLE @ 100.000 05/15/2029	145,000	142,885
STARWOOD PROPERTY TRUST INC 144A 7.250% 04/01/2029 CALLABLE @ 100.000 10/01/2028	17,000	17,616
		587,049
Health Care (9.0%)
AHP HEALTH PARTNERS INC 144A 5.750% 07/15/2029 CALLABLE @ 100.000 07/15/2026	69,000	68,385
ACADIA HEALTHCARE CO INC 144A 5.500% 07/01/2028	68,000	67,623
ACADIA HEALTHCARE CO., INC. 144A 7.375% 03/15/2033 CALLABLE @ 103.688 03/15/2028	16,000	16,367
AVANTOR FUNDING INC 144A 4.625% 07/15/2028	219,000	215,871
BAUSCH + LOMB CORP 144A 8.375% 10/01/2028 CALLABLE @ 102.094 10/01/2026	15,000	15,488
BAUSCH HEALTH COS INC 144A 5.250% 01/30/2030 CALLABLE @ 100.000 01/30/2027	146,000	95,048
BAUSCH HEALTH COS INC 144A 6.250% 02/15/2029	80,000	58,850
BAUSCH HEALTH COS INC 144A 5.250% 02/15/2031 CALLABLE @ 101.313 02/15/2027	36,000	21,420
BAUSCH HEALTH COS INC 144A 5.000% 02/15/2029	29,000	20,971
BAUSCH HEALTH COS INC 144A 4.875% 06/01/2028 CALLABLE @ 100.000 06/01/2026	314,000	294,427
CHS/COMMUNITY HEALTH SYSTEMS INC 144A 6.000% 01/15/2029	39,000	38,610
CHS/COMMUNITY HEALTH SYSTEMS INC 144A 4.750% 02/15/2031 CALLABLE @ 101.583 02/15/2027	76,000	71,116
CHS/COMMUNITY HEALTH SYSTEMS INC 144A 6.125% 04/01/2030 CALLABLE @ 100.000 04/01/2027	23,000	20,389
CHS/COMMUNITY HEALTH SYSTEMS INC 144A 5.250% 05/15/2030 CALLABLE @ 101.313 05/15/2026	181,000	170,939
CHS/COMMUNITY HEALTH SYSTEMS INC 144A 10.875% 01/15/2032 CALLABLE @ 105.438 02/15/2027	54,000	57,954
CONCENTRA ESCROW ISSUER CORP 144A 6.875% 07/15/2032 CALLABLE @ 103.438 07/15/2027	24,000	24,803
DAVITA INC 144A 4.625% 06/01/2030 CALLABLE @ 101.542 06/01/2026	184,000	178,108
DAVITA INC 144A 3.750% 02/15/2031 CALLABLE @ 101.250 02/15/2027	85,000	78,840
DAVITA INC 144A 6.875% 09/01/2032 CALLABLE @ 103.438 09/01/2027	38,000	39,211
ELANCO ANIMAL HEALTH INC 6.650% 08/28/2028 CALLABLE @ 100.000 05/28/2028	30,000	30,668
EMERGENT BIOSOLUTIONS INC 144A 3.875% 08/15/2028	27,000	24,030
ENCOMPASS HEALTH CORP 4.500% 02/01/2028	182,000	180,580
ENCOMPASS HEALTH CORP 4.750% 02/01/2030 CALLABLE @ 100.792 02/01/2027	20,000	19,681
ENDO FINANCE HOLDINGS INC 144A 8.500% 04/15/2031 CALLABLE @ 104.250 04/15/2027	22,000	23,315
GLOBAL MEDICAL RESPONSE, INC. 144A 7.375% 10/01/2032 CALLABLE @ 103.688 10/01/2028	32,000	33,358
IQVIA INC 144A 5.000% 10/15/2026	200,000	199,999
IQVIA, INC. 144A 6.250% 06/01/2032 CALLABLE @ 103.125 06/01/2028	140,000	142,515
MEDLINE BORROWER LP/MEDLINE CO-ISSUER INC 144A 6.250% 04/01/2029 CALLABLE @ 101.563 04/01/2027	88,000	89,977
MOLINA HEALTHCARE, INC. 144A 6.500% 02/15/2031 CALLABLE @ 103.250 12/15/2027	39,000	39,630
MEDLINE BORROWER LP 144A 3.875% 04/01/2029 CALLABLE @ 100.000 10/01/2026	208,000	202,185
MEDLINE BORROWER LP 144A 5.250% 10/01/2029 CALLABLE @ 100.000 10/01/2026	137,000	136,334
ORGANON FINANCE 1 LLC 144a 4.125% 04/30/2028	200,000	196,571
OWENS & MINOR INC 144A 4.500% 03/31/2029	120,000	79,959
OWENS & MINOR INC 144A 6.625% 04/01/2030 CALLABLE @ 100.000 04/01/2027	52,000	27,973
PERRIGO FINANCE UNLIMITED CO 6.125% 09/30/2032 CALLABLE @ 103.063 09/30/2027	30,000	28,228
(4) RADIOLOGY PARTNERS INC 144A 9.781% (9.781% PIK)02/15/2030	56,997	51,688
RADIOLOGY PARTNERS, INC. 144A 8.500% 07/15/2032 CALLABLE @ 104.250 07/15/2028	106,000	105,243
SOTERA HEALTH HOLDINGS LLC 144A 7.375% 06/01/2031 CALLABLE @ 103.688 06/01/2027	48,000	49,861
SURGERY CENTER HOLDINGS INC 144A 7.250% 04/15/2032 CALLABLE @ 103.625 04/15/2027	99,000	98,733
TENET HEALTHCARE CORP 5.125% 11/01/2027	281,000	280,731
TENET HEALTHCARE CORP 6.125% 06/15/2030 CALLABLE @ 101.531 06/15/2026	92,000	92,514
TENET HEALTHCARE CORP 6.750% 05/15/2031 CALLABLE @ 103.375 05/15/2026	176,000	180,842
BAUSCH HEALTH AMERICAS INC 144A 8.500% 01/31/2027	52,000	51,740
+^(2)ESC RITE AID CORP	27,514	-
		3,920,775
Industrials (13.4%)
ADT SECURITY CORP. 144A 4.125% 08/01/2029 CALLABLE @ 100.000 08/01/2028	113,000	108,910
API GROUP DE INC 144A 4.750% 10/15/2029 CALLABLE @ 100.000 10/15/2026	37,000	36,214
API GROUP DE INC 144A 4.125% 07/15/2029 CALLABLE @ 100.000 07/15/2026	56,000	54,525
ATS CORP 144A 4.125% 12/15/2028	49,000	47,830
AMERICAN AIRLINES INC/AADVANTAGE LOYALTY IP LTD 144A 5.750% 04/20/2029	178,000	177,998
AECOM 144A 6.000% 08/01/2033 CALLABLE @ 103.000 08/01/2028	50,000	50,398
ALLISON TRANSMISSION, INC. 144A 4.750% 10/01/2027	32,000	31,940
ALLISON TRANSMISSION INC 144A 5.875% 06/01/2029 CALLABLE @ 100.979 06/01/2026	121,000	122,106
ALLISON TRANSMISSION INC 144A 3.750% 01/30/2031 CALLABLE @ 101.250 01/30/2027	105,000	98,649
ALLISON TRANSMISSION, INC. 144A 5.875% 12/01/2033 CALLABLE @ 102.938 12/01/2028	17,000	17,158
ARAMARK SERVICES INC 144A 5.000% 02/01/2028	164,000	163,670
AXON ENTERPRISE, INC. 144A 6.250% 03/15/2033 CALLABLE @ 103.125 03/15/2028	15,000	15,390
BWX TECHNOLOGIES INC 144A 4.125% 06/30/2028	44,000	43,288
BWX TECHNOLOGIES INC 144A 4.125% 04/15/2029	98,000	95,181
BOMBARDIER INC 144A 8.750% 11/15/2030 CALLABLE @ 104.375 11/15/2026	49,000	52,013
BOMBARDIER INC 144A 7.250% 07/01/2031 CALLABLE @ 103.625 07/01/2027	41,000	43,139
BOMBARDIER INC 144A 7.000% 06/01/2032 CALLABLE @ 103.500 06/01/2027	39,000	40,707
BOMBARDIER, INC. 144A 6.750% 06/15/2033 CALLABLE @ 103.375 06/15/2028	25,000	26,066
BRINK'S CO/THE 144A 6.500% 06/15/2029 CALLABLE @ 103.250 06/15/2026	21,000	21,481
CHART INDUSTRIES INC 144A 7.500% 01/01/2030 CALLABLE @ 101.875 01/01/2027	109,000	113,142
CHART INDUSTRIES INC 144A 9.500% 01/01/2031 CALLABLE @ 102.375 01/01/2027	12,000	12,612
CLEAN HARBORS, INC. 144A 6.375% 02/01/2031 CALLABLE @ 101.594 02/01/2027	10,000	10,175
CLEAN HARBORS, INC. 144A 5.750% 10/15/2033 CALLABLE @ 102.875 10/15/2028	40,000	40,366
CORECIVIC INC 8.250% 04/15/2029 CALLABLE @ 102.063 04/15/2027	90,000	93,747
CYPRIUM CORP. / CYPRIUM HOLDINGS LUXEMBOURG SARL 144A 6.125% 04/15/2031 CALLABLE @ 103.063 04/15/2028	41,000	41,251
DYCOM INDUSTRIES, INC. 144A 4.500% 04/15/2029	90,000	87,855
EMRLD BORROWER LP / EMERALD CO-ISSUER INC 144A 6.750% 07/15/2031 CALLABLE @ 103.375 07/15/2027	71,000	73,389
EMRLD BORROWER LP / EMERALD CO-ISSUER INC 144A 6.625% 12/15/2030 CALLABLE @ 103.313 06/15/2026	268,000	274,330
ENPRO, INC. 144A 6.125% 06/01/2033 CALLABLE @ 103.063 06/01/2028	20,000	20,390
EQUIPMENTSHARE.COM INC 144A 9.000% 05/15/2028 CALLABLE @ 104.500 05/15/2026	136,000	141,009
EQUIPMENTSHARE.COM INC 144A 8.625% 05/15/2032 CALLABLE @ 104.313 05/15/2027	17,000	18,029
EQUIPMENTSHARE.COM INC 144A 8.000% 03/15/2033 CALLABLE @ 104.000 09/15/2027	29,000	30,392
ESAB CORP 144A 6.250% 04/15/2029 CALLABLE @ 101.563 04/15/2027	43,000	43,564
ESAB CORP. 144A 5.625% 04/01/2031 CALLABLE @ 102.813 04/01/2028	24,000	24,216
FIRST STUDENT BIDCO INC / FIRST TRANSIT PARENT INC 144A 4.000% 07/31/2029 CALLABLE @ 100.000 07/31/2026	102,000	97,540
GB AIT BUYER, INC. 144A 8.750% 04/30/2034 CALLABLE @ 104.375 04/30/2029	14,000	14,046
GEO GROUP INC/THE 8.625% 04/15/2029 CALLABLE @ 102.156 04/15/2027	69,000	71,777
GFL ENVIRONMENTAL INC 144A 4.000% 08/01/2028	90,000	87,929
GFL ENVIRONMENTAL INC 144A 4.750% 06/15/2029 CALLABLE @ 100.000 06/15/2026	45,000	44,465
GFL ENVIRONMENTAL INC 144A 4.375% 08/15/2029 CALLABLE @ 100.000 08/15/2026	39,000	38,119
GFL ENVIRONMENTAL INC 144A 6.750% 01/15/2031 CALLABLE @ 103.375 01/15/2027	115,000	119,224
GARDA WORLD SECURITY CORP 144A 6.000% 06/01/2029 CALLABLE @ 100.000 06/01/2026	59,000	57,828
GARDA WORLD SECURITY CORP 144A 8.250% 08/01/2032 CALLABLE @ 104.125 08/01/2027	60,000	61,375
GARDA WORLD SECURITY CORP 144A 8.375% 11/15/2032 CALLABLE @ 104.188 11/15/2027	30,000	30,944
GARDA WORLD SECURITY CORP. 144A 6.500% 01/15/2031 CALLABLE @ 103.250 11/15/2027	32,000	32,687
GATES CORP/DE 144A 6.875% 07/01/2029 CALLABLE @ 103.438 07/01/2026	20,000	20,550
WRANGLER HOLDCO CORP 144A 6.625% 04/01/2032 CALLABLE @ 103.313 04/01/2027	24,000	24,756
GLOBAL INFRASTRUCTURE SOLUTIONS INC 144A 5.625% 06/01/2029 CALLABLE @ 100.000 06/01/2026	80,000	79,846
GLOBAL INFRASTRUCTURE SOLUTIONS INC 144A 7.500% 04/15/2032 CALLABLE @ 103.750 04/15/2027	60,000	63,298
GOAT HOLDCO LLC 144A 6.750% 02/01/2032 CALLABLE @ 103.375 02/01/2028	24,000	24,593
HERC HOLDINGS INC 144A 6.625% 06/15/2029 CALLABLE @ 103.313 06/15/2026	48,000	49,180
HERC HOLDINGS, INC. 144A 7.000% 06/15/2030 CALLABLE @ 103.500 06/15/2027	30,000	31,209
INSTALLED BUILDING PRODUCTS, INC. 144A 5.625% 02/01/2034 CALLABLE @ 102.813 02/01/2029	19,000	18,905
JETBLUE AIRWAYS CORP / JETBLUE LOYALTY LP 144A 9.875% 09/20/2031 CALLABLE @ 104.938 08/27/2027	100,000	92,582
LSF12 HELIX PARENT LLC 144A 7.125% 02/01/2033 CALLABLE @ 103.563 02/01/2028	25,000	24,446
MADISON IAQ LLC 144A 4.125% 06/30/2028 CALLABLE @ 100.000 06/30/2026	114,000	112,405
MADISON IAQ LLC 144A 5.875% 06/30/2029 CALLABLE @ 100.000 06/30/2026	193,000	192,480
NESCO HOLDINGS II INC 144A 5.500% 04/15/2029	71,000	70,645
PRIME SECURITY SERVICES BORROWER LLC 144A 3.375% 08/31/2027 CALLABLE @ 100.000 08/31/2026	232,000	227,375
ADT SECURITY CORP./THE 144A 4.875% 07/15/2032	181,000	172,295
RAVEN ACQUISITION HOLDINGS LLC 144A 6.875% 11/15/2031 CALLABLE @ 103.438 11/15/2027	52,000	51,470
RESIDEO FUNDING INC 144A 6.500% 07/15/2032 CALLABLE @ 103.250 07/15/2027	64,000	64,582
RITCHIE BROS HOLDINGS INC 144A 6.750% 03/15/2028 CALLABLE @ 100.000 03/15/2027	17,000	17,238
RITCHIE BROS HOLDINGS INC 144A 7.750% 03/15/2031 CALLABLE @ 101.938 03/15/2027	17,000	17,631
SENSATA TECHNOLOGIES BV 144A 4.000% 04/15/2029	50,000	48,550
SENSATA TECHNOLOGIES INC 144A 3.750% 02/15/2031 CALLABLE @ 100.938 02/15/2027	18,000	16,728
TEREX CORP 144A 5.000% 05/15/2029 CALLABLE @ 100.000 05/15/2026	113,000	112,210
TEREX CORP 144A 6.250% 10/15/2032 CALLABLE @ 103.125 10/15/2027	49,000	49,800
TOPBUILD CORP. 144A 5.625% 01/31/2034 CALLABLE @ 102.813 09/30/2028	32,000	32,413
TRANSDIGM INC 144A 6.375% 03/01/2029 CALLABLE @ 101.594 03/01/2027	111,000	113,216
TRANSDIGM INC 144A 6.625% 03/01/2032 CALLABLE @ 103.313 03/01/2027	64,000	65,769
TRANSDIGM INC 144A 6.250% 01/31/2034 CALLABLE @ 103.125 08/31/2028	18,000	18,410
TRINET GROUP INC 144A 7.125% 08/15/2031 CALLABLE @ 103.563 08/15/2026	48,000	47,613
TRINITY INDUSTRIES, INC. 144A 7.750% 07/15/2028 CALLABLE @ 101.938 07/15/2026	60,000	61,543
UNITED AIRLINES HOLDINGS, INC. 5.375% 03/01/2031 CALLABLE @ 100.000 09/01/2030	23,000	22,670
UNITED AIRLINES HOLDINGS INC 4.875% 03/01/2029 CALLABLE @ 100.000 12/01/2028	35,000	34,579
UNITED RENTALS NORTH AMERICA INC 4.875% 01/15/2028	227,000	226,454
UNITED RENTALS NORTH AMERICA INC 144A 6.125% 03/15/2034 CALLABLE @ 103.063 03/15/2029	76,000	78,091
UNITED RENTALS NORTH AMERICA, INC. 144A 5.375% 11/15/2033 CALLABLE @ 102.688 11/15/2028	25,000	24,723
VISTAJET MALTA FINANCE PLC 144A 9.500% 06/01/2028 CALLABLE @ 102.375 06/01/2026	36,000	36,403
WABASH NATIONAL CORP. 144A 4.500% 10/15/2028 CALLABLE @ 100.000 10/15/2026	68,000	60,015
WESCO DISTRIBUTION INC 144A 7.250% 06/15/2028 CALLABLE @ 100.000 06/15/2026	223,000	223,668
WESCO DISTRIBUTION INC 144A 6.375% 03/15/2029 CALLABLE @ 101.594 03/15/2027	106,000	108,075
WESCO DISTRIBUTION INC 144A 6.625% 03/15/2032 CALLABLE @ 103.313 03/15/2027	35,000	36,246
WESCO DISTRIBUTION, INC. 144A 6.375% 03/15/2033 CALLABLE @ 103.188 03/15/2028	27,000	27,873
WESCO DISTRIBUTION, INC. 144A 5.250% 04/15/2031 CALLABLE @ 102.625 04/15/2028	21,000	20,951
WILLIAMS SCOTSMAN INC 144A 6.625% 06/15/2029 CALLABLE @ 103.313 06/15/2026	24,000	24,635
WILLIAMS SCOTSMAN, INC. 144A 6.625% 04/15/2030 CALLABLE @ 103.313 04/15/2027	14,000	14,419
XPO INC 144A 7.125% 02/01/2032 CALLABLE @ 103.563 02/01/2027	35,000	36,493
+^(1)INCORA, INC. 144A 6.000% 01/31/2033	34,624	15,845
		5,839,942
Information Technology (6.6%)
AHEAD DB HOLDINGS LLC 144A 6.625% 05/01/2028 CALLABLE @ 100.000 05/01/2026	117,000	115,706
AMKOR TECHNOLOGY, INC. 144A 5.875% 10/01/2033 CALLABLE @ 102.938 10/01/2028	30,000	30,162
CLARIVATE SCIENCE HOLDINGS CORP 144A 3.875% 07/01/2028 CALLABLE @ 100.000 06/30/2026	40,000	38,657
CLARIVATE SCIENCE HOLDINGS CORP 144A 4.875% 07/01/2029 CALLABLE @ 100.000 06/30/2026	94,000	85,356
CONDUENT BUSINESS SERVICES LLC 144A 6.000% 11/01/2029 CALLABLE @ 100.000 11/01/2026	80,000	57,223
COREWEAVE, INC. 144A 9.250% 06/01/2030 CALLABLE @ 104.625 06/01/2027	62,000	62,760
COREWEAVE, INC. 144A 9.000% 02/01/2031 CALLABLE @ 104.500 02/01/2028	80,000	79,328
DIEBOLD NIXDORF INC 144A 7.750% 03/31/2030 CALLABLE @ 103.875 12/18/2026	51,000	53,636
ENTEGRIS INC 144A 4.375% 04/15/2028	31,000	30,563
ENTEGRIS INC 144A 3.625% 05/01/2029 CALLABLE @ 100.906 05/01/2026	87,000	82,937
ENTEGRIS INC 144A 4.750% 04/15/2029 CALLABLE @ 100.000 01/15/2029	63,000	62,513
ENTEGRIS INC 144A 5.950% 06/15/2030 CALLABLE @ 101.983 06/15/2026	95,000	96,158
FAIR ISAAC CORP. 144A 6.000% 05/15/2033 CALLABLE @ 103.000 05/15/2028	32,000	31,559
FLASH COMPUTE LLC 144A 7.250% 12/31/2030 CALLABLE @ 103.625 12/31/2027	42,000	42,839
IMOLA MERGER CORP 144A 4.750% 05/15/2029 CALLABLE @ 100.000 05/15/2026	258,000	253,503
INSIGHT ENTERPRISES INC 144A 6.625% 05/15/2032 CALLABLE @ 103.313 05/15/2027	21,000	20,822
KIOXIA HOLDINGS CORP. 144A 6.250% 07/24/2030 CALLABLE @ 103.125 07/24/2027	200,000	206,115
ATHENAHEALTH GROUP INC 144A 6.500% 02/15/2030 CALLABLE @ 100.000 02/15/2027	130,000	123,932
NCR CORP. 144A 5.125% 04/15/2029	72,000	69,989
NCR ATLEOS CORP 144A 9.500% 04/01/2029 CALLABLE @ 104.750 10/01/2026	97,000	103,187
NEPTUNE BIDCO US, INC. 144A 9.290% 04/15/2029 CALLABLE @ 102.323 10/15/2026	28,000	28,316
NEPTUNE BIDCO US, INC. 144A 9.500% 02/15/2033 CALLABLE @ 104.750 02/15/2029	38,000	38,018
ON SEMICONDUCTOR CORP 144A 3.875% 09/01/2028	118,000	115,014
RINGCENTRAL INC 144A 8.500% 08/15/2030 CALLABLE @ 104.250 08/15/2026	90,000	94,289
SS&C TECHNOLOGIES INC 144A 5.500% 09/30/2027	258,000	257,706
SS&C TECHNOLOGIES INC 144A 6.500% 06/01/2032 CALLABLE @ 103.250 06/01/2027	45,000	45,506
SCIENCE APPLICATIONS INTERNATIONAL CORP. 144A 5.875% 11/01/2033 CALLABLE @ 102.938 11/01/2028	24,000	23,655
SEAGATE DATA STORAGE TECHNOLOGY PTE LTD. 144a 8.250% 12/15/2029 CALLABLE @ 104.125 07/15/2026	46,000	48,073
SEAGATE DATA STORAGE TECHNOLOGY PTE LTD. 144a 8.500% 07/15/2031 CALLABLE @ 104.250 07/15/2026	12,000	12,564
SEAGATE DATA STORAGE TECHNOLOGY PTE LTD 144a 5.750% 12/01/2034 CALLABLE @ 100.000 06/01/2034	55,000	55,937
SHIFT4 PAYMENTS LLC 144A 6.750% 08/15/2032 CALLABLE @ 103.375 08/15/2027	48,000	47,846
BLOCK, INC. 6.500% 05/15/2032 CALLABLE @ 103.250 05/15/2027	154,000	156,905
BLOCK INC 144A 5.625% 08/15/2030 CALLABLE @ 102.813 08/15/2027	22,000	22,022
BLOCK INC 144A 6.000% 08/15/2033 CALLABLE @ 103.000 08/15/2028	33,000	32,935
SYNAPTICS INC 144A 4.000% 06/15/2029 CALLABLE @ 100.000 06/15/2026	40,000	38,080
COHERENT CORP 144A 5.000% 12/15/2029 CALLABLE @ 100.000 12/15/2026	189,000	186,954
XEROX HOLDINGS CORP 144A 8.875% 11/30/2029 CALLABLE @ 104.438 11/30/2026	48,000	17,520
		2,868,285
Materials (8.5%)
ADVANCED DRAINAGE SYSTEMS, INC. 144A 5.375% 03/01/2034 CALLABLE @ 102.688 03/01/2029	14,000	13,802
ATI, INC. 5.875% 12/01/2027	66,000	66,081
ATI INC 4.875% 10/01/2029 CALLABLE @ 100.000 10/01/2026	45,000	44,678
ATI INC 5.125% 10/01/2031 CALLABLE @ 102.563 10/01/2026	23,000	22,898
ATI INC 7.250% 08/15/2030 CALLABLE @ 103.625 08/15/2026	43,000	44,789
AVIENT CORP 144A 7.125% 08/01/2030 CALLABLE @ 101.781 08/01/2026	19,000	19,350
AXALTA COATING SYSTEMS LLC 144A 4.750% 06/15/2027	150,000	149,271
BIG RIVER STEEL LLC / BRS FINANCE CORP 144A 6.625% 01/31/2029	91,000	91,077
CVR PARTNERS LP / CVR NITROGEN FINANCE CORP 144A 6.125% 06/15/2028 CALLABLE @ 100.000 06/15/2026	52,000	51,918
CARPENTER TECHNOLOGY CORP. 144A 5.625% 03/01/2034 CALLABLE @ 102.813 03/01/2029	16,000	16,008
CELANESE US HOLDINGS LLC 7.000% 02/15/2031 CALLABLE @ 103.500 02/15/2028	26,000	27,052
CELANESE US HOLDINGS LLC 7.375% 02/15/2034 CALLABLE @ 103.688 02/15/2029	109,000	113,989
CHEMOURS CO/THE 144A 5.750% 11/15/2028 CALLABLE @ 100.000 11/15/2026	154,000	153,698
CHEMOURS CO/THE 144A 4.625% 11/15/2029 CALLABLE @ 100.000 11/15/2026	5,000	4,796
CHEMOURS CO/THE 144A 8.000% 01/15/2033 CALLABLE @ 104.000 01/15/2028	55,000	56,694
CHEMOURS CO./THE 144A 7.875% 03/15/2034 CALLABLE @ 103.938 03/15/2029	43,000	44,017
CLEVELAND-CLIFFS INC 144A 4.625% 03/01/2029	40,000	38,538
CLEVELAND-CLIFFS INC 144A 4.875% 03/01/2031 CALLABLE @ 101.625 03/01/2027	29,000	26,730
CLEVELAND-CLIFFS INC 144A 6.750% 04/15/2030 CALLABLE @ 101.688 04/15/2027	45,000	44,580
CLEVELAND-CLIFFS, INC. 144A 6.875% 11/01/2029 CALLABLE @ 103.438 11/01/2026	59,000	60,113
CLEVELAND-CLIFFS INC 144A 7.500% 09/15/2031 CALLABLE @ 103.750 03/15/2028	29,000	29,614
CLEVELAND-CLIFFS, INC. 144A 7.625% 01/15/2034 CALLABLE @ 103.813 01/15/2029	22,000	22,206
CLYDESDALE ACQUISITION HOLDINGS, INC. 144A 6.750% 04/15/2032 CALLABLE @ 103.375 04/15/2028	102,000	95,684
COMMERCIAL METALS CO. 144A 5.750% 11/15/2033 CALLABLE @ 102.875 11/15/2028	40,000	40,061
COMPASS MINERALS INTERNATIONAL, INC. 144A 8.000% 07/01/2030 CALLABLE @ 104.000 07/01/2027	32,000	33,402
ELEMENT SOLUTIONS INC 144A 3.875% 09/01/2028	100,000	97,463
INEOS FINANCE PLC 144a 7.500% 04/15/2029 CALLABLE @ 101.875 04/15/2027	200,000	197,760
JH NORTH AMERICA HOLDINGS, INC. 144A 5.875% 01/31/2031 CALLABLE @ 102.938 07/31/2027	22,000	21,990
JH NORTH AMERICA HOLDINGS, INC. 144A 6.125% 07/31/2032 CALLABLE @ 103.063 07/31/2028	35,000	35,076
KAISER ALUMINUM CORP 144A 4.500% 06/01/2031 CALLABLE @ 102.250 06/01/2026	30,000	28,759
KNIFE RIVER CORP 144a 7.750% 05/01/2031 CALLABLE @ 103.875 05/01/2026	60,000	62,236
(2)(3) LABL INC 144A 8.625% 10/01/2031 CALLABLE @ 104.313 10/01/2027	56,000	24,080
MAUSER PACKAGING SOLUTIONS HOLDING CO. 144A 7.875% 04/15/2030 CALLABLE @ 103.938 06/01/2027	319,000	322,047
MAUSER PACKAGING SOLUTIONS HOLDING CO. 144A 9.250% 04/15/2030 CALLABLE @ 104.625 06/01/2027	130,000	123,894
NOVA CHEMICALS CORP 144A 5.250% 06/01/2027 CALLABLE @ 100.000 03/03/2027	20,000	20,000
NOVA CHEMICALS CORP 144A 4.250% 05/15/2029 CALLABLE @ 100.000 05/15/2026	116,000	112,961
NOVA CHEMICALS CORP 144A 8.500% 11/15/2028 CALLABLE @ 102.125 11/15/2026	42,000	43,561
NOVA CHEMICALS CORP 144A 9.000% 02/15/2030 CALLABLE @ 104.500 08/15/2026	116,000	122,331
NOVELIS CORP 144A 4.750% 01/30/2030 CALLABLE @ 100.792 01/30/2027	45,000	43,106
NOVELIS INC 144A 6.875% 01/30/2030 CALLABLE @ 103.438 01/30/2027	14,000	14,351
NOVELIS CORP. 144A 6.375% 08/15/2033 CALLABLE @ 103.188 08/15/2028	26,000	26,108
OWENS-BROCKWAY GLASS CONTAINER INC 144A 6.625% 05/13/2027	68,000	68,073
QNITY ELECTRONICS INC 144A 5.750% 08/15/2032 CALLABLE @ 102.875 08/15/2028	27,000	27,261
QNITY ELECTRONICS INC 144A 6.250% 08/15/2033 CALLABLE @ 103.125 08/15/2028	18,000	18,413
QUIKRETE HOLDINGS INC 144A 6.375% 03/01/2032 CALLABLE @ 103.188 03/01/2028	235,000	238,303
SMYRNA READY MIX CONCRETE LLC 144A 8.875% 11/15/2031 CALLABLE @ 104.438 11/15/2026	120,000	125,625
SOLSTICE ADVANCED MATERIALS, INC. 144A 5.625% 09/30/2033 CALLABLE @ 102.813 09/30/2028	70,000	69,589
STANDARD BUILDING SOLUTIONS INC 144A 6.500% 08/15/2032 CALLABLE @ 103.250 08/15/2027	52,000	52,527
STANDARD BUILDING SOLUTIONS, INC. 144A 6.250% 08/01/2033 CALLABLE @ 103.125 08/01/2028	68,000	67,924
STANDARD BUILDING SOLUTIONS, INC. 144A 5.875% 03/15/2034 CALLABLE @ 102.938 03/15/2029	26,000	25,358
STANDARD INDUSTRIES INC/NY 144A 4.750% 01/15/2028	200,000	198,821
TRIMAS CORP 144A 4.125% 04/15/2029	63,000	60,584
(2)(3)(4)TRINSEO LUXCO FINANCE SPV SARL 144A 7.625%(2.500% PIK) 05/03/2029 CALLABLE @ 100.000 01/17/2027	127,465	2,549
UNITED STATES STEEL CORP 6.875% 03/01/2029	4,000	4,005
WR GRACE HOLDINGS LLC 144A 5.625% 08/15/2029 CALLABLE @ 100.000 08/15/2026	123,000	117,152
WR GRACE HOLDINGS LLC 144A 6.625% 08/15/2032 CALLABLE @ 103.313 08/15/2028	35,000	34,767
WR GRACE HOLDINGS LLC 144A 7.000% 08/01/2033 CALLABLE @ 103.500 02/01/2029	15,000	14,900
		3,732,620
Real Estate (2.1%)
IRON MOUNTAIN INC 144A 4.875% 09/15/2027	57,000	56,875
IRON MOUNTAIN INC 144A 5.000% 07/15/2028	7,000	6,977
IRON MOUNTAIN, INC. 144A 5.250% 07/15/2030 CALLABLE @ 101.750 07/15/2026	205,000	203,286
IRON MOUNTAIN INC 144A 6.250% 01/15/2033 CALLABLE @ 103.125 12/06/2027	9,000	9,138
KENNEDY-WILSON INC 5.000% 03/01/2031 CALLABLE @ 101.667 03/01/2027	20,000	19,919
MPT OPERATING PARTNERSHIP LP 144a 8.500% 02/15/2032 CALLABLE @ 104.250 02/15/2028	35,000	36,360
MILLROSE PROPERTIES INC 144A 6.375% 08/01/2030 CALLABLE @ 103.188 08/01/2027	54,000	54,675
MILLROSE PROPERTIES, INC. 144A 6.250% 09/15/2032 CALLABLE @ 103.125 09/15/2028	25,000	25,090
RHP HOTEL PROPERTIES LP / RHP FINANCE CORP 144A 4.500% 02/15/2029 CALLABLE @ 100.000 02/15/2027	167,000	164,126
RHP HOTEL PROPERTIES LP / RHP FINANCE CORP 144A 7.250% 07/15/2028 CALLABLE @ 101.813 07/15/2026	4,000	4,092
RHP HOTEL PROPERTIES LP / RHP FINANCE CORP 144A 6.500% 04/01/2032 CALLABLE @ 103.250 04/01/2027	104,000	106,702
RHP HOTEL PROPERTIES LP / RHP FINANCE CORP. 144A 6.500% 06/15/2033 CALLABLE @ 103.250 06/15/2028	11,000	11,328
RHP HOTEL PROPERTIES LP / RHP FINANCE CORP. 144A 5.750% 03/15/2034 CALLABLE @ 102.875 03/15/2029	19,000	18,913
ANYWHERE REAL ESTATE GROUP LLC 144A 5.250% 04/15/2030 CALLABLE @ 100.000 04/15/2027	122,000	116,381
ANYWHERE REAL ESTATE GROUP LLC / REALOGY CO-ISSUER 144A 9.750% 04/15/2030 CALLABLE @ 104.875 04/15/2027	44,000	47,241
SBA COMMUNICATIONS CORP 3.125% 02/01/2029	58,000	55,831
		936,934

	Principal		Fair
	Amount		Value
CORPORATE BONDS (97.0%)
Communication Services (21.3%)
ALTICE FRANCE SA 144A 6.875% 10/15/2030 CALLABLE @ 101.000 10/01/2026	156,439	$	153,791
ALTICE FRANCE SA 144A 6.500% 04/15/2032 CALLABLE @ 101.000 10/01/2026	30,000		29,516
ALTICE FRANCE SA 144A 6.875% 07/15/2032 CALLABLE @ 100.000 10/15/2026	55,000		54,105
APLD COMPUTECO 2 LLC 144A 6.750% 03/15/2031 CALLABLE @ 103.375 03/15/2028	67,000		66,337
ARCHES BUYER INC 144A 4.250% 06/01/2028	85,000		83,162
ARCHES BUYER INC 144A 6.125% 12/01/2028	17,000		16,528
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL CORP 144A 5.125% 05/01/2027	15,000		14,983
CCO HOLDINGS LLC/CCO HOLDINGS CAPITAL CORP. 144A 5.000% 02/01/2028	252,000		248,943
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL CORP 144A 4.750% 03/01/2030 CALLABLE @ 100.792 09/01/2026	684,000		648,158
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL CORP 144A 4.500% 08/15/2030 CALLABLE @ 100.750 02/15/2027	606,000		565,364
CCO HOLDINGS LLC/CCO HOLDINGS CAPITAL CORP. 144A 4.250% 02/01/2031 CALLABLE @ 101.417 07/01/2026	419,000		379,829
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL CORP 4.500% 05/01/2032 CALLABLE @ 102.250 05/01/2026	43,000		37,757
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL CORP. 144A 6.375% 09/01/2029 CALLABLE @ 101.594 09/01/2026	20,000		20,031
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL CORP. 144A 7.375% 03/01/2031 CALLABLE @ 101.844 03/01/2027	59,000		59,586
CCO HOLDINGS LLC/CCO HOLDINGS CAPITAL CORP. 144A 7.000% 02/01/2033 CALLABLE @ 103.500 02/01/2029	46,000		45,311
CSC HOLDINGS LLC 144A 6.500% 02/01/2029 CALLABLE @ 100.000 02/01/2027	400,000		253,187
CSC HOLDINGS LLC 144A 5.750% 01/15/2030 CALLABLE @ 100.958 01/15/2027	200,000		71,039
CIPHER COMPUTE LLC 144A 7.125% 11/15/2030 CALLABLE @ 103.563 11/15/2027	34,000		35,226
CLEAR CHANNEL OUTDOOR HOLDINGS INC 144A 7.750% 04/15/2028	124,000		124,782
CLEAR CHANNEL OUTDOOR HOLDINGS INC 144A 7.500% 06/01/2029 CALLABLE @ 100.000 06/01/2026	188,000		188,392
CLEAR CHANNEL OUTDOOR HOLDINGS, INC. 144A 7.125% 02/15/2031 CALLABLE @ 103.563 08/15/2027	160,000		166,331
CLEAR CHANNEL OUTDOOR HOLDINGS, INC. 144A 7.500% 03/15/2033 CALLABLE @ 103.750 09/15/2028	77,000		80,879
CONNECT HOLDING II LLC 144A 10.500% 04/03/2031 CALLABLE @ 100.000 12/24/2027	73,000		74,364
DIRECTV HOLDINGS LLC/DIRECTV FINANCING CO., INC. 144A 5.875% 08/15/2027 CALLABLE @ 100.000 08/15/2026	137,000		137,100
DISCOVERY COMMUNICATIONS LLC 5.000% 09/20/2037 CALLABLE @ 100.000 03/20/2037	15,000		11,400
DISH NETWORK CORP 144A 11.750% 11/15/2027 CALLABLE @ 100.000 11/15/2026	252,000		260,163
DISH DBS CORP 7.750% 07/01/2026	213,000		212,203
DISH DBS CORP 144A 5.250% 12/01/2026 CALLABLE @ 100.000 06/01/2026	350,000		346,498
DISH DBS CORP 144A 5.750% 12/01/2028 CALLABLE @ 100.000 12/01/2027	65,000		63,856
ECHOSTAR CORP 6.750% 11/30/2030 CALLABLE @ 102.000 11/30/2026	50,829		51,575
ECHOSTAR CORP 10.750% 11/30/2029 CALLABLE @ 105.375 11/30/2026	80,000		86,915
VENTURE GLOBAL CALCASIEU PASS LLC 144A 7.500% 04/30/2031 CALLABLE @ 103.750 04/30/2028	45,000		44,054
FRONTIER COMMUNICATIONS HOLDINGS LLC 144A 5.000% 05/01/2028 CALLABLE @ 100.000 05/01/2026	208,000		208,000
FRONTIER COMMUNICATIONS HOLDINGS LLC 144A 6.750% 05/01/2029 CALLABLE @ 100.000 05/01/2026	9,000		9,000
FRONTIER COMMUNICATIONS HOLDINGS LLC 5.875% 11/01/2029 CALLABLE @ 100.000 11/01/2026	14,737		14,811
FRONTIER COMMUNICATIONS HOLDINGS LLC 144A 6.000% 01/15/2030 CALLABLE @ 100.000 10/15/2026	27,000		27,150
FRONTIER COMMUNICATIONS HOLDINGS LLC 144A 8.750% 05/15/2030 CALLABLE @ 102.188 05/15/2026	49,000		50,132
GCI LLC 144A 4.750% 10/15/2028	176,000		172,179
GRAY MEDIA INC 144A 5.375% 11/15/2031 CALLABLE @ 102.688 11/15/2026	88,000		68,910
GRAY MEDIA INC 144A 4.750% 10/15/2030 CALLABLE @ 101.583 10/15/2026	103,000		82,427
GRAY MEDIA INC 144A 10.500% 07/15/2029 CALLABLE @ 105.250 07/15/2026	196,000		208,087
GRAY MEDIA, INC. 144A 7.250% 08/15/2033 CALLABLE @ 103.625 08/15/2028	83,000		84,498
HUGHES SATELLITE SYSTEMS CORP 6.625% 08/01/2026	20,000		14,200
IHEARTCOMMUNICATIONS INC 144A 9.125% 05/01/2029 CALLABLE @ 103.000 12/20/2026	300,251		299,496
IHEARTCOMMUNICATIONS INC 144A 10.875% 05/01/2030 CALLABLE @ 105.438 12/20/2026	192,587		183,189
IHEARTCOMMUNICATIONS INC 144A 7.750% 08/15/2030 CALLABLE @ 105.813 12/20/2026	107,293		103,269
LEVEL 3 FINANCING, INC. 144A 6.875% 06/30/2033 CALLABLE @ 103.438 06/30/2028	98,000		101,139
LEVEL 3 FINANCING INC 144A 7.000% 03/31/2034 CALLABLE @ 103.500 08/31/2028	89,265		92,581
LUMEN TECHNOLOGIES INC 144A 5.375% 06/15/2029 CALLABLE @ 100.000 06/15/2026	70,000		67,179
WARNERMEDIA HOLDINGS, INC. 4.279% 03/15/2032 CALLABLE @ 100.000 12/15/2031	73,000		65,974
WARNERMEDIA HOLDINGS, INC. 5.050% 03/15/2042 CALLABLE @ 100.000 09/15/2041	45,000		32,084
MCGRAW-HILL EDUCATION INC 144A 5.750% 08/01/2028 CALLABLE @ 100.000 08/01/2026	57,000		56,569
MERIDIAN ARC HOLDCO LLC 144A 6.250% 04/30/2031 CALLABLE @ 103.125 04/30/2028	135,000		134,877
STAGWELL GLOBAL LLC 144A 5.625% 08/15/2029 CALLABLE @ 100.000 08/15/2026	113,000		107,489
MIDCONTINENT COMMUNICATIONS 144A 8.000% 08/15/2032 CALLABLE @ 104.000 08/15/2027	70,000		65,827
NEWS CORP 144A 5.125% 02/15/2032 CALLABLE @ 102.563 02/15/2027	40,000		39,316
NEXSTAR MEDIA INC 144A 4.750% 11/01/2028	219,000		215,512
NEXSTAR MEDIA, INC. 144A 7.250% 04/15/2034 CALLABLE @ 103.625 04/15/2029	181,000		182,191
NEXSTAR MEDIA, INC. 144A 6.500% 09/15/2033 CALLABLE @ 103.250 03/15/2029	267,000		269,047
OAK-EAGLE ACQUIRECO, INC. 144A 7.250% 07/01/2033 CALLABLE @ 103.625 07/01/2029	39,000		40,137
OAK-EAGLE ACQUIRECO, INC. 144A 8.750% 07/01/2034 CALLABLE @ 104.375 07/01/2029	41,000		42,560
OUTFRONT MEDIA CAPITAL LLC 144A 4.625% 03/15/2030 CALLABLE @ 100.771 03/15/2027	15,000		14,592
OUTFRONT MEDIA CAPITAL LLC 144A 4.250% 01/15/2029	13,000		12,677
OUTFRONT MEDIA CAPITAL LLC 144A 7.375% 02/15/2031 CALLABLE @ 103.688 11/15/2026	77,000		80,534
#PR RNO PROPERTY OWNER 1 LLC 144A 6.500% 05/01/2031 CALLABLE @ 103.250 05/01/2028	134,000		132,728
SV RNO PROPERTY OWNER 1 LLC 144A 5.875% 03/01/2031 CALLABLE @ 102.938 03/01/2028	95,000		93,215
SHUTTERFLY FINANCE LLC 144A 8.500% 10/01/2027	189,831		186,034
SHUTTERFLY FINANCE LLC 144A 9.750% 10/01/2027	20,730		20,782
SINCLAIR TELEVISION GROUP INC 144A 8.125% 02/15/2033 CALLABLE @ 104.063 02/15/2028	58,000		60,133
SIRIUS XM RADIO LLC 144A 5.875% 04/15/2032 CALLABLE @ 102.938 04/15/2029	59,000		58,006
SIRIUS XM RADIO LLC 144A 5.000% 08/01/2027	87,000		86,690
SIRIUS XM RADIO LLC 144A 5.500% 07/01/2029 CALLABLE @ 100.917 07/01/2026	220,000		218,317
SIRIUS XM RADIO LLC 144A 4.125% 07/01/2030 CALLABLE @ 101.375 07/01/2026	33,000		30,702
SIRIUS XM RADIO LLC 144A 4.000% 07/15/2028 CALLABLE @ 100.000 07/15/2026	260,000		252,489
SIRIUS XM RADIO LLC 144A 3.875% 09/01/2031 CALLABLE @ 101.938 09/01/2026	70,000		63,361
SNAP INC 144A 6.875% 03/01/2033 CALLABLE @ 103.438 03/01/2028	22,000		21,417
TELECOM ITALIA CAPITAL SA 6.375% 11/15/2033	12,000		12,595
UNIVISION COMMUNICATIONS INC 144A 7.375% 06/30/2030 CALLABLE @ 101.844 06/30/2026	65,000		64,933
UNIVISION COMMUNICATIONS, INC. 144A 8.500% 07/31/2031 CALLABLE @ 104.250 07/31/2027	15,000		15,225
UNIVISION COMMUNICATIONS INC 144A 9.375% 08/01/2032 CALLABLE @ 104.688 08/01/2028	41,000		42,424
UNIVISION COMMUNICATIONS, INC. 144A 8.875% 04/15/2033 CALLABLE @ 104.438 04/15/2029	32,000		32,140
VIASAT, INC. 144A 7.500% 05/30/2031 CALLABLE @ 103.750 05/30/2026	27,000		27,061
WULF COMPUTE LLC 144A 7.750% 10/15/2030 CALLABLE @ 103.875 10/15/2027	95,000		99,882
XPO INC 144A 6.250% 06/01/2028 CALLABLE @ 101.563 06/01/2026	45,000		45,565
			9,340,697

Utilities (3.1%)
AMERIGAS PARTNERS LP / AMERIGAS FINANCE CORP 144A 9.375% 06/01/2028 CALLABLE @ 102.344 06/01/2026	46,000		47,198
AMERIGAS PARTNERS LP / AMERIGAS FINANCE CORP. 144A 9.500% 06/01/2030 CALLABLE @ 104.750 06/01/2027	32,000		34,162
CONSTELLATION ENERGY GENERATION LLC 144A 4.625% 02/01/2029	54,000		53,662
NRG ENERGY INC 5.750% 01/15/2028	58,000		58,062
NRG ENERGY INC 144A 5.250% 06/15/2029 CALLABLE @ 100.875 06/15/2026	94,000		93,651
NRG ENERGY INC 144A 3.375% 02/15/2029	68,000		64,957
NRG ENERGY INC 144A 3.625% 02/15/2031 CALLABLE @ 101.208 02/15/2027	18,000		16,713
NRG ENERGY INC 144A 3.875% 02/15/2032 CALLABLE @ 101.938 02/15/2027	4,000		3,700
NRG ENERGY INC 144A 7.000% 03/15/2033 CALLABLE @ 100.000 12/15/2032	28,000		30,438
NRG ENERGY INC 144A 6.000% 02/01/2033 CALLABLE @ 103.000 11/01/2027	56,000		56,428
NRG ENERGY, INC. 144A 5.750% 01/15/2034 CALLABLE @ 102.875 10/15/2028	45,000		44,662
NRG ENERGY, INC. 144A 6.000% 01/15/2036 CALLABLE @ 103.000 10/15/2030	48,000		47,596
NRG ENERGY, INC. 144A 5.875% 05/15/2034 CALLABLE @ 102.938 05/15/2029	43,000		42,778
NRG ENERGY, INC. 144A 6.125% 05/15/2036 CALLABLE @ 103.063 05/15/2031	12,000		11,942
PG&E CORP 5.000% 07/01/2028 CALLABLE @ 100.000 07/01/2026	40,000		39,809
SUPERIOR PLUS LP / SUPERIOR GENERAL PARTNER INC 144A 4.500% 03/15/2029 CALLABLE @ 100.000 03/15/2027	56,000		54,311
TALEN ENERGY SUPPLY LLC 144A 6.250% 02/01/2034 CALLABLE @ 103.125 10/15/2028	134,000		133,082
TALEN ENERGY SUPPLY LLC 144A 6.375% 05/01/2033 CALLABLE @ 103.188 05/01/2029	108,000		108,028
TALEN ENERGY SUPPLY LLC 144A 6.125% 05/01/2031 CALLABLE @ 103.062 05/01/2028	72,000		72,108
VISTRA OPERATIONS CO LLC 144A 5.000% 07/31/2027	30,000		29,995
VISTRA OPERATIONS CO. LLC 144A 4.375% 05/01/2029 CALLABLE @ 100.000 05/01/2026	17,000		16,705
VISTRA OPERATIONS CO LLC 144A 7.750% 10/15/2031 CALLABLE @ 103.875 10/15/2026	125,000		131,092
VISTRA OPERATIONS CO LLC 144A 6.875% 04/15/2032 CALLABLE @ 103.438 04/15/2027	72,000		75,161
VOLTAGRID LLC 144A 7.375% 11/01/2030 CALLABLE @ 103.688 11/01/2027	72,000		74,623
			1,340,863

TOTAL CORPORATE BONDS (COST: $43,060,766)		$	42,431,659

COMMON STOCKS (1.2%)
Communication Services (0.2%)	Shares
(2)CLEAR CHANNEL OUTDOOR HOLDINGS, INC.	4,640		11,136
(2)IHEARTMEDIA, INC.	1,902		11,355
+^(2)INTELSAT SA/LUXEMBOURG - CVR	3,888		55,890
			78,381
Consumer Discretionary (0.0%)
+^(2)MYT HOLDING, LLC	21,320		5,330
+^(2)NMG ESCROW EQUITY	203		101
			5,431
Health Care (0.4%)
^(2)ENVISION HEALTHCARE CORP	131		2,519
^(2)MALLINCKRODT EQUITY	1,199		112,494
+^(2)INTERNATIONAL ONCOLOGY CARE INC	1,633		25,785
^(2)MNK COMMON STOCK	404		37,904
			178,702
Industrials (0.0%)
+^(2)INCORA TOP HOLDCO LLC	28		800
+^(1)(2)INCORA INTERMEDIATE LLC	1,553		17,751
			18,551
Materials (0.1%)
+^(2)YEOMAN CAPITAL SA	7,945		57,522
+^(2)VENATOR MATERIALS PLC	12		90
			57,612

Real Estate (0.5%)
VICI PROPERTIES, INC.	6,754		197,217
			197,217

TOTAL COMMON STOCK (COST: $1,344,326)		$	535,894

CONVERTIBLE PREFERRED STOCKS (0.2%)
Consumer Discretionary (0.2%)	Shares
+^(2)MYT HOLDING, LLC (144A Series A)	53,840		69,615
+^(2)NMG PARENT, LLC	37		19
			69,634
Health Care (0.0%)
+^(2)MALLINCKRODT PLC	54,631,236		-
+^(2)MALLINCKRODT PLC	18,407,856		2
			2

TOTAL CONVERTIBLE PREFERRED STOCK (COST: $62,874)		$	69,636

WARRANTS (0.0%)
Communication Services (0.0%)	Shares
^(2)ENTERCOM-AUDACY INC SPECIAL WARRANT	194		630
+^(2)ENTERCOM-AUDACY INC 2ND LIEN A	235		4
+^(2)ENTERCOM-AUDACY INC 2ND LIEN B	39		1
TOTAL WARRANTS (COST: $69,113)		$	635

TOTAL INVESTMENTS (COST: $44,537,079)		$	43,037,824
OTHER ASSETS LESS LIABILITIES (1.6%)		$	721,474
NET ASSETS (100.0%)		$	43,759,298

(1) All or a portion of the security is considered restricted at April 30, 2026.
(2) Non-income producing security.
(3) Issue is in default.
(4) Interest or dividend is partial paid-in-kind and partial cash. Rate paid in-kind is shown in parenthesis.
# When-issued purchase as of April 30, 2026.
+ The level 3 securities were a result of unavailable quoted prices from an active market or the unavailability of other significant observable inputs. Fair value determined in accordance with procedures established by and under the supervision of the Adviser, acting as Valuation Designee. These securities represented $248,782 or 0.57% of net assets as of April 30, 2026. See Fair Value Measurements footnote.
^ Deemed by management to be illiquid security. Total fair value of illiquid securities amount to $402,329 representing 0.92% of net assets as of April 30, 2026.
144A - Security is exempt from registration under Rule 144A of the Securities Act of 1933. These securities are deemed to be liquid under procedures approved by the Fund’s Board of Trustees and may normally be sold to qualified institutional buyers in transactions exempt from registration. Total fair value of Rule 144A Securities amounts to $37,126,392 representing 84.8% of net assets as of April 30, 2026.
PLC - Public Limited Company

The accompanying notes are an integral part of these financial statements.

NOTE: INVESTMENT IN SECURITIES *(unaudited)*
At April 30, 2026, the net unrealized appreciation/(depreciation) based on the cost of investments for federal income tax purposes was as follows:

	Integrity High Income Fund
Investments at cost	$	44,537,079
Unrealized appreciation	$	697,943
Unrealized depreciation		(2,197,198)
Net unrealized appreciation/(depreciation)*	$	(1,499,255)

*Differences between financial reporting-basis and tax-basis unrealized appreciation/(depreciation) are due to differing treatment of wash sales and market discount.

NOTE: FAIR VALUE MEASUREMENTS *(unaudited)*
Various inputs are used in determining the value of the Funds’ investments. These inputs are summarized in three broad levels: Level 1 inputs are based on quoted prices in active markets for identical securities. Level 2 inputs are based on significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc). Level 3 inputs are based on significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The following is a summary of the inputs used to value the Funds’ investments as of April 30, 2026:

Integrity High Income Fund
	Level 1		Level 2		Level 3		Total
Corporate Bonds	$	-	$	42,415,787	$	15,872	$	42,431,659
Common Stocks		219,708		152,917		163,269		535,894
Convertible Preferred Stock		-		-		69,636		69,636
Warrants		-		630		5		635
Total	$	219,708	$	42,569,334	$	248,782	$	$43,037,824