| Principal Amount | Value | |
| Corporate Bonds — 55.6% | ||
| Canada — 2.4% | ||
| $250,000 | Brookfield Infrastructure Finance ULC, 6.75%, 3/15/55(a) | $253,189 |
| 335,000 | Canadian Imperial Bank of Commerce, 6.50%, 7/28/86(a) | 335,223 |
| 172,000 | Skeena Resources Ltd., 8.50%, 4/1/31(b) | 180,596 |
| 475,000 | Toucan FinCo Ltd./Toucan FinCo Can, Inc./Toucan FinCo US LLC, 9.50%, 5/15/30(b) | 447,725 |
| 1,216,733 | ||
| France — 1.5% | ||
| 172,000 | Altice France SA, 6.88%, 7/15/32(b) | 166,884 |
| 400,000 | CNP Assurances SA, 4.88%, (a),(c),(d) | 375,930 |
| 250,000 | Societe Generale SA, 7.13%, (a),(b),(c) | 248,204 |
| 791,018 | ||
| Germany — 2.4% | ||
| 252,000 | Cerdia Finanz GmbH, 9.38%, 10/3/31(b) | 226,437 |
| 400,000 | Commerzbank AG, EMTN, 7.50%, (a),(c),(d) | 417,045 |
| 400,000 | Deutsche Bank AG, 8.13%, (a),(c),(d) | 422,234 |
| 150,000 | ZF North America Capital, Inc., 7.50%, 3/24/31(b) | 151,036 |
| 1,216,752 | ||
| Japan — 0.9% | ||
| 200,000 | Rakuten Group, Inc., 9.75%, 4/15/29(d) | 217,275 |
| 250,000 | RLGH Finance Bermuda Ltd., 6.88%, (a),(c),(d) | 250,338 |
| 467,613 | ||
| Luxembourg — 1.0% | ||
| 275,000 | Altice France Lux 3 / Altice Holdings 1, 10.00%, 1/15/33(b) | 270,131 |
| 250,000 | Breakwater Energy Holdings Sarl, 9.25%, 11/15/30(d) | 263,817 |
| 533,948 | ||
| Switzerland — 0.8% | ||
| 400,000 | Julius Baer Group Ltd., 7.50%, (a),(c),(d) | 415,263 |
| United Kingdom — 3.2% | ||
| 440,000 | A&K Travel Group Holdings Ltd., 7.50%, 5/15/33(b) | 444,339 |
| 200,000 | Ardonagh Finco Ltd., 7.75%, 2/15/31(b) | 202,283 |
| 500,000 | Barclays Plc, 7.63%, (a),(c) | 521,732 |
| 200,000 | Connect Finco Sarl / Connect US Finco LLC, 9.00%, 9/15/29(b) | 210,497 |
| 250,000 | Standard Life Plc, 8.50%, (a),(c),(d) | 265,398 |
| 1,644,249 | ||
| United States — 43.4% | ||
| 200,000 | 1261229 BC Ltd., 10.00%, 4/15/32(b) | 202,447 |
| 162,000 | Advance Auto Parts, Inc., 7.38%, 8/1/33(b) | 167,786 |
| 419,000 | Ally Financial, Inc., Series D, 7.10%, (a),(c) | 423,658 |
| 164,000 | AMC Global Media, Inc., 10.50%, 7/15/32(b) | 168,554 |
| 324,000 | American Axle & Manufacturing, Inc., 7.75%, 10/15/33(b) | 320,165 |
| Principal Amount | Value | |
| $198,000 | American National Group, Inc., 7.00%, 12/1/55(a) | $193,072 |
| 227,000 | AmeriGas Partners LP / AmeriGas Finance Corp., 9.50%, 6/1/30(b) | 243,554 |
| 160,000 | AmeriTex HoldCo Intermediate LLC, 7.63%, 8/15/33(b) | 167,256 |
| 175,000 | APH Somerset Investor 2 LLC / APH2 Somerset Investor 2 LLC / APH3 Somerset Inves, 7.88%, 11/1/29(b) | 177,261 |
| 245,000 | APLD ComputeCo 3 LLC, 7.00%, 6/15/31(b) | 244,644 |
| 341,000 | APLD ComputeCo LLC, 9.25%, 12/15/30(b) | 367,902 |
| 240,000 | Asurion LLC/ Asurion Co.-Issuer, Inc., 8.00%, 12/31/32(b) | 242,778 |
| 253,000 | Asurion LLC/ Asurion Co.-Issuer, Inc., 8.38%, 2/1/34(b) | 234,472 |
| 233,000 | Beach Acquisition Bidco LLC, PIK, 10.00%, 7/15/33(b) | 264,386 |
| 184,000 | Bread Financial Holdings, Inc., 8.38%, 6/15/35(a),(b) | 191,747 |
| 330,000 | BW Real Estate, Inc., 9.50%, (a),(b),(c) | 336,450 |
| 515,000 | Centene Corp., 4.63%, 12/15/29 | 501,629 |
| 189,000 | Chemours Co. (The), 7.88%, 3/15/34(b) | 189,951 |
| 240,000 | CHS/Community Health Systems, Inc., 9.75%, 1/15/34(b) | 250,567 |
| 126,000 | CHS/Community Health Systems, Inc., 10.88%, 1/15/32(b) | 135,857 |
| 168,000 | Cloud Software Group, Inc., 8.25%, 6/30/32(b) | 157,291 |
| 325,000 | Cloud Software Group, Inc., 9.00%, 9/30/29(b) | 315,548 |
| 288,000 | CMG Media Corp., 8.88%, 6/18/29(b) | 211,569 |
| 254,000 | Comstock Resources, Inc., 6.75%, 3/1/29(b) | 249,635 |
| 268,000 | Core Scientific Finance I LLC, 7.75%, 5/15/31(b) | 271,715 |
| 171,000 | CoreWeave, Inc., 9.00%, 2/1/31(b) | 169,091 |
| 168,000 | CoreWeave, Inc., 9.25%, 6/1/30(b) | 169,034 |
| 412,000 | CoreWeave, Inc., 9.75%, 10/1/31(b) | 410,928 |
| 194,000 | CrossCountry Intermediate HoldCo LLC, 6.50%, 10/1/30(b) | 191,288 |
| 195,000 | CrossCountry Intermediate HoldCo LLC, 6.75%, 12/1/32(b) | 188,341 |
| 299,000 | Delek Logistics Partners LP / Delek Logistics Finance Corp., 6.88%, 6/1/34(b) | 297,968 |
| 317,000 | Delek Logistics Partners LP / Delek Logistics Finance Corp., 7.38%, 6/30/33(b) | 323,336 |
| 187,000 | Dentsply Sirona, Inc., 8.38%, 9/12/55(a) | 186,837 |
| 166,000 | Directv Financing LLC, 8.88%, 2/1/30(b) | 168,845 |
| 163,000 | Directv Financing LLC / Directv Financing Co.-Obligor, Inc., 10.00%, 2/15/31(b) | 169,315 |
| 279,000 | Discovery Global Holdings, Inc., Series, 5.05%, 3/15/42 | 204,224 |
| 165,000 | ELK Grove Village Property LLC, 7.50%, 6/15/31(b) | 166,025 |
| 165,000 | Emera US Finance LLC, Series A, 6.65%, 10/1/56(a) | 167,020 |
| 165,000 | Emera US Finance LLC, Series B, 6.85%, 10/1/56(a) | 168,197 |
| 165,000 | Energy Transfer LP, 6.50%, 2/15/56(a) | 166,401 |
| 191,000 | EW Scripps Co. (The), 9.88%, 8/15/30(b) | 167,127 |
| 262,000 | F&G Annuities & Life, Inc., 6.25%, 10/4/34 | 256,393 |
| 176,000 | First Eagle Holdings, Inc., 7.25%, 8/15/32(b) | 177,327 |
| 184,000 | Flash Compute LLC, 7.25%, 12/31/30(b) | 189,288 |
| 84,000 | FMC Corp., 8.00%, 6/1/31(b) | 87,396 |
| 250,000 | FMC Corp., 8.45%, 11/1/55(a) | 182,410 |
| 200,000 | Focus Financial Partners LLC, 6.75%, 9/15/31(b) | 201,932 |
| 253,000 | Freedom Mortgage Holdings LLC, 8.38%, 4/1/32(b) | 257,385 |
| Principal Amount | Value | |
| $162,000 | Freedom Mortgage Holdings LLC, 9.25%, 2/1/29(b) | $168,372 |
| 267,000 | General Motors Financial Co., Inc., Series A, 5.75%, (a),(c) | 266,964 |
| 365,000 | Global Atlantic Fin Co., 7.25%, 3/1/56(a),(b) | 358,255 |
| 234,000 | Gray Media, Inc., 10.50%, 7/15/29(b) | 246,881 |
| 352,000 | HA Sustainable Infrastructure Capital, Inc., 7.13%, 11/15/56(a) | 356,931 |
| 185,000 | Industrial F&B Investments III, Inc., 7.75%, 2/11/33(b) | 188,542 |
| 187,000 | Infinity Natural Resources LLC, 7.63%, 4/1/31(b) | 185,731 |
| 401,000 | Jefferies Finance LLC / JFIN Co-Issuer Corp., 5.00%, 8/15/28(b) | 387,268 |
| 212,000 | Kennedy-Wilson, Inc., 7.00%, 6/1/31(b) | 216,954 |
| 193,000 | Kennedy-Wilson, Inc., 7.25%, 6/1/33(b) | 196,917 |
| 181,000 | Kraken Oil & Gas Partners LLC, 7.13%, 5/15/31(b) | 177,042 |
| 177,000 | LifePoint Health, Inc., 7.00%, 5/1/34(b) | 169,566 |
| 122,000 | LifePoint Health, Inc., 10.00%, 6/1/32(b) | 121,540 |
| 237,000 | Long Ridge Energy LLC, 8.75%, 2/15/32(b) | 250,064 |
| 160,000 | Men’s Wearhouse LLC (The), 9.00%, 2/1/31(b) | 169,974 |
| 191,000 | Meridian Arc Holdco LLC, 6.25%, 4/30/31(b) | 191,345 |
| 294,000 | Michaels Cos., Inc. (The), 8.50%, 3/15/33(b) | 291,041 |
| 275,000 | MPT Operating Partnership LP / MPT Finance Corp., REIT, 5.00%, 10/15/27 | 266,712 |
| 200,000 | Navient Corp., 9.38%, 10/15/31 | 199,213 |
| 254,000 | Neptune Bidco US, Inc., 9.50%, 2/15/33(b) | 256,910 |
| 330,000 | Nexstar Media, Inc., 7.25%, 4/15/34(b) | 329,110 |
| 180,000 | Oracle Corp., 6.10%, 9/26/65 | 150,524 |
| 269,000 | Osaic Holdings, Inc., 8.00%, 8/1/33(b) | 269,586 |
| 272,000 | PacifiCorp, 7.13%, 8/15/56(a) | 270,660 |
| 200,000 | Pagaya US Holdings Co. LLC, 8.88%, 8/1/30(b) | 172,069 |
| 238,000 | Paramount Global, 6.38%, 3/30/62(a) | 203,571 |
| 253,000 | PG&E Corp., 6.85%, 9/15/56(a) | 252,175 |
| 185,000 | PG&E Corp., 7.38%, 3/15/55(a) | 188,537 |
| 165,000 | Plains All American Pipeline LP, Series B, (Term SOFR 3M + 4.372%), 8.02%, (c),(e) | 164,730 |
| 330,000 | Planet Financial Group LLC, 10.50%, 12/15/29(b) | 325,958 |
| 285,000 | PR RNO Property Owner 1 LLC, 6.50%, 5/1/31(b) | 284,614 |
| 246,000 | PRA Group, Inc., 8.88%, 1/31/30(b) | 253,856 |
| 275,000 | Reworld Holding Corp., 4.88%, 12/1/29(b) | 262,380 |
| 251,000 | Rocket Software, Inc., 9.00%, 11/28/28(b) | 249,080 |
| 206,000 | Sinclair Television Group, Inc., 5.50%, 3/1/30(b) | 180,578 |
| 257,000 | Snap, Inc., 6.88%, 3/1/33(b) | 250,367 |
| 167,000 | Solaris Energy Infrastructure LLC, 6.38%, 5/15/31(b) | 168,895 |
| 245,000 | Sunoco LP, 7.88%, (a),(b),(c) | 254,752 |
| 253,000 | SV RNO Property Owner 1 LLC, 5.88%, 3/1/31(b) | 249,427 |
| 180,000 | Sword Purchaser LLC, 8.25%, 4/15/33(b) | 186,189 |
| 162,000 | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp., 6.75%, 3/15/34(b) | 163,441 |
| 165,000 | TXNM Energy, Inc., 7.00%, 7/31/56(a),(b) | 165,961 |
| 192,000 | Venture Global LNG, Inc., 9.00%, (a),(b),(c) | 186,998 |
| 242,000 | VoltaGrid LLC, 7.38%, 11/1/30(b) | 251,336 |
| 225,000 | Voyager Parent LLC, 9.25%, 7/1/32(b) | 237,928 |
| Principal Amount | Value | |
| $257,000 | Whirlpool Corp., 7.88%, 7/1/34(b) | $258,025 |
| 244,000 | White Cap Supply Holdings LLC, 7.38%, 11/15/30(b) | 247,632 |
| 184,000 | William Carter Co. (The), 7.38%, 2/15/31(b) | 190,395 |
| 159,000 | XPLR Infrastructure Operating Partners LP, 7.75%, 4/15/34(b) | 167,351 |
| 141,000 | XPLR Infrastructure Operating Partners LP, 8.63%, 3/15/33(b) | 151,230 |
| 193,000 | Yondr JK 1 LLC, 6.88%, 6/30/31(b) | 193,442 |
| 22,443,021 | ||
| Total Corporate Bonds | 28,728,597 | |
| (Cost $28,246,318) | ||
| Collateralized Mortgage Obligations — 15.5% | ||
| United States — 15.5% | ||
| 500,000 | COLT Mortgage Loan Trust, Series 2026-3, Class B1, 6.89%, 5/25/71, (b),(f) | 505,601 |
| 250,000 | EFMT, Series 2025-NQM3, Class B1, 7.22%, 8/25/70, (b),(f) | 249,660 |
| 1,500,000 | Mountain View CLO XVI Ltd., Series 2022-1A, Class D1RR, (Term SOFR 3M + 3.690%), 7.36%, 3/15/38, (b),(g) | 1,500,750 |
| 600,000 | PRKCM Trust, Series 2026-AFC3, Class B1, 6.32%, 5/1/61, (b),(f) | 584,019 |
| 500,000 | PRPM Trust, Series 2025-NQM4, Class B1, 6.72%, 7/25/70, (b),(f) | 497,031 |
| 500,000 | Santander Mortgage Asset Receivable Trust, Series 2025-WAG, Class C, 6.58%, 11/10/42, (b),(f) | 499,928 |
| 455,000 | Santander Mortgage Asset Receivable Trust, Series 2025-NQM2, Class M1, 6.83%, 2/25/65, (b) | 460,010 |
| 500,000 | SWCH Commercial Mortgage Trust, Series 2025-DATA, Class E, (Term SOFR 1M + 3.340%), 6.97%, 2/15/42, (b),(g) | 494,083 |
| 1,561,671 | Verus Securitization Trust, Series 2022-5, Class A1, 4.80%, 4/25/67, (b) | 1,499,127 |
| 1,000,000 | Verus Securitization Trust, Series 2026-5, Class B1, 6.70%, 5/25/71, (b),(f) | 1,003,023 |
| 750,000 | WCORE Commercial Mortgage Trust, Series 2024-CORE, Class D, (Term SOFR 1M + 2.940%), 6.57%, 11/15/41, (b),(g) | 750,893 |
| 8,044,125 | ||
| Total Collateralized Mortgage Obligations | 8,044,125 | |
| (Cost $8,064,068) | ||
| Asset Backed Securities — 14.0% | ||
| Cayman Islands — 5.8% | ||
| 1,000,000 | Benefit Street Partners CLO 48 Ltd., Series 2026-48A, Class D2, (Term SOFR 3M + 3.400%), 7.11%, 4/20/39, (b),(g) | 1,008,000 |
| 1,000,000 | Carlyle US CLO Ltd., Series 2017-2A, Class D2R2, (Term SOFR 3M + 4.750%), 8.43%, 7/20/37, (b),(g) | 996,600 |
| 1,000,000 | Harvest US CLO Ltd., Series 2024-1A, Class DR, (Term SOFR 3M + 3.850%), 7.52%, 4/18/37, (b),(g) | 1,001,300 |
| 3,005,900 | ||
| Jersey — 0.5% | ||
| 250,000 | CQS US CLO Ltd., Series 2023-3A, Class ER, (Term SOFR 3M + 7.750%), 11.42%, 1/25/37, (b),(g) | 248,650 |
| Principal Amount | Value | |
| United States — 7.7% | ||
| $960,000 | Battalion CLO XXV Ltd., Series 2024-25A, Class D, (Term SOFR 3M + 4.350%), 8.03%, 3/13/37, (b),(g) | $961,344 |
| 250,000 | Centersquare Issuer LLC, Series 2025-3A, Class A2, 5.00%, 8/25/55, (b) | 240,029 |
| 310,000 | DataBank Issuer II LLC, Series 2025-1A, Class A2, 5.18%, 9/27/55, (b) | 304,033 |
| 343,000 | Mtp Abs Funding LLC, Series 2026-1A, Class B, 5.88%, 4/25/56, (b) | 342,990 |
| 499,674 | Pagaya AI Debt Grantor Trust, Series 2026-1, Class B, 5.37%, 9/15/33, (b) | 494,953 |
| 500,000 | Pagaya AI Debt Grantor Trust, Series 2026-R2, Class D, 6.89%, 2/15/34, (b) | 502,085 |
| 396,955 | Subway Funding LLC, Series 2024-3A, Class A23, 5.91%, 7/30/54, (b) | 383,039 |
| 250,000 | Switch ABS Issuer LLC, Series 2025-1A, Class A2, 5.04%, 3/25/55, (b) | 243,616 |
| 250,000 | Switch ABS Issuer LLC, Series 2024-2A, Class B, 6.20%, 6/25/54, (b) | 246,963 |
| 250,000 | Zayo Issuer LLC, Series 2025-3A, Class B, 5.72%, 10/20/55, (b) | 244,015 |
| 3,963,067 | ||
| Total Asset Backed Securities | 7,217,617 | |
| (Cost $7,175,135) | ||
| Bank Loans — 10.6% | ||
| Luxembourg — 0.1% | ||
| 72,827 | Boulda Towage Luxembourg Sarl, 2.50%, 6/30/33(g) | 72,873 |
| Netherlands — 0.5% | ||
| 249,375 | Cyberswift US Finco LLC, (Term SOFR 3M + 3.750%), 7.43%, 10/8/32(g) | 248,128 |
| United States — 10.0% | ||
| 250,000 | IRB Holding Corp., (Term SOFR 1M + 2.500%), 6.11%, 12/15/30(g) | 249,975 |
| 248,731 | Cedar Fair LP, (Term SOFR 1M + 2.000%), 5.64%, 5/1/31(g) | 246,127 |
| 249,373 | Clarios Global LP, (Term SOFR 1M + 2.500%), 6.14%, 1/28/32(g) | 249,373 |
| 249,292 | Columbus McKinnon Corp., (Term SOFR 3M + 3.500%), 7.23%, 2/3/33(g) | 248,564 |
| 248,747 | Focus Financial Partners LLC, (Term SOFR 1M + 2.500%), 6.14%, 9/15/31(g) | 242,404 |
| 248,734 | Go Daddy Operating Company, LLC, (Term SOFR 1M + 1.750%), 5.39%, 11/9/29(g) | 243,048 |
| 997,500 | Grifols International SA, (Term SOFR 3M + 2.500%), 6.19%, 4/14/33(g) | 999,495 |
| Principal Amount | Value | |
| $249,373 | GTCR Everest Borrower LLC, (Term SOFR 3M + 2.500%), 6.23%, 9/5/31(g) | $248,166 |
| 248,741 | Long Ridge Energy LLC, (Term SOFR 3M + 4.500%), 8.23%, 2/19/32(g) | 248,947 |
| 300,000 | Pioneer Opco, LLC, (Term SOFR 1M + 3.250%), 6.89%, 5/16/33(g) | 300,912 |
| 248,741 | Quikrete Holdings, Inc., (Term SOFR 1M + 2.250%), 5.89%, 2/10/32(g) | 248,430 |
| 170,000 | Sword Purchaser LLC, (Term SOFR 3M + 4.000%), 7.62%, 4/9/33(g) | 165,565 |
| 249,373 | Transdigm, Inc., (Term SOFR 1M + 2.250%), 5.89%, 3/22/30(g) | 249,388 |
| 600,000 | Venture Global Calcasieu Pass LLC, (Term SOFR 6M + 3.250%), 6.95%, 4/11/33(g) | 601,086 |
| 250,000 | Voyager Parent LLC, (Term SOFR 3M + 4.250%), 7.95%, 7/1/32(g) | 249,927 |
| 50,000 | Watlow Electric Manufacturing Co, (Term SOFR 1M + 2.750%), 6.42%, 6/17/33(g) | 49,907 |
| 302,900 | Watlow Electric Manufacturing Co, (Term SOFR 1M + 2.750%), 6.42%, 6/17/33(g) | 302,334 |
| 5,143,648 | ||
| Total Bank Loans | 5,464,649 | |
| (Cost $5,440,551) | ||
| Shares | ||
| Investment Company — 4.8% | ||
| 2,494,718 | RBC BlueBay U.S. Government Money Market Fund, Institutional Class 1 (h) | 2,494,718 |
| Total Investment Company | 2,494,718 | |
| (Cost $2,494,718) | ||
| Total Investments | $51,949,706 | |
| (Cost $51,420,790) — 100.5% | ||
| Liabilities in excess of other assets — (0.5)% | (283,536) | |
| NET ASSETS — 100.0% | $51,666,170 | |
| (a) | Security is a fix-to-float security, which carries a fixed coupon until a certain date, upon which it switches to a floating rate. Reference rate and spread are provided if the rate is currently floating. |
| (b) | Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
| (c) | Perpetual security with no stated maturity date. |
| (d) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
| (e) | Variable rate security. The rate reflected in the Schedule of Portfolio Investments is the rate in effect on June 30, 2026. |
| (f) | Variable or floating rate security, which interest rate adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. Rate shown is the rate in effect as of period end. |
| (g) | Floating rate note. Rate shown is as of report date. |
| (h) | Affiliated investment. |
| Abbreviations used are defined below: |
| EMTN – Euro Medium Term Note |
| REIT – Real Estate Investment Trust |
| SOFR – Secured Overnight Financing Rate |