Number of Shares | Value | |
COMMON STOCKS — 98.3% | ||
DIVERSIFIED FINANCIAL SERVICES — 0.0% | ||
4,080 | Voyager Aviation Holdings LLC*,1 | $— |
REITS — 98.3% | ||
217,346 | AGNC Investment Corp. | 2,151,725 |
107,111 | Annaly Capital Management, Inc. | 2,109,016 |
204,326 | Apollo Commercial Real Estate Finance, Inc. | 2,276,192 |
177,967 | Arbor Realty Trust, Inc. | 2,358,063 |
299,499 | Ares Commercial Real Estate Corp. | 2,231,268 |
111,639 | ARMOUR Residential REIT, Inc. | 2,207,103 |
112,515 | Blackstone Mortgage Trust, Inc. - Class A | 2,240,174 |
334,735 | BrightSpire Capital, Inc. | 2,306,324 |
472,062 | Chimera Investment Corp. | 2,176,206 |
232,028 | Claros Mortgage Trust, Inc. | 2,264,593 |
167,189 | Dynex Capital, Inc. | 2,081,503 |
183,510 | Ellington Financial, Inc. | 2,167,253 |
174,287 | Franklin BSP Realty Trust, Inc. | 2,328,474 |
227,847 | KKR Real Estate Finance Trust, Inc. | 2,292,141 |
208,825 | Ladder Capital Corp. | 2,324,222 |
184,811 | MFA Financial, Inc. | 2,108,694 |
291,412 | New York Mortgage Trust, Inc. | 2,098,166 |
147,666 | PennyMac Mortgage Investment Trust | 2,167,737 |
254,608 | Ready Capital Corp. | 2,324,571 |
351,857 | Redwood Trust, Inc. | 2,241,329 |
191,952 | Rithm Capital Corp. | 2,142,184 |
112,515 | Starwood Property Trust, Inc. | 2,287,430 |
164,551 | Two Harbors Investment Corp. | 2,178,655 |
51,063,023 | ||
TOTAL COMMON STOCKS | ||
(Cost $55,474,628) | 51,063,023 |
Principal Amount | ||
CORPORATE BONDS — 0.0% | ||
MISCELLANEOUS MANUFACTURING — 0.0% | ||
$924 | Anagram International, Inc. / Anagram Holdings LLC 10.000%, 8/15/2026 | — |
OIL & GAS — 0.0% | ||
1,902,000 | Mesquite Energy, Inc. 7.250%, 7/15/20231,2,3,4 | 9,510 |
TOTAL CORPORATE BONDS | ||
(Cost $1,888,790) | 9,510 |
Number of Shares | Value | |
UNITS — 0.0% | ||
DIVERSIFIED FINANCIAL SERVICES — 0.0% | ||
24,482 | Voyager Aviation Holdings LLC*,1 | $— |
TOTAL UNITS | ||
(Cost $612,025) | — | |
TOTAL INVESTMENTS — 98.3% | ||
(Cost $57,975,443) | 51,072,533 | |
Other Assets in Excess of Liabilities — 1.7% | 874,301 | |
TOTAL NET ASSETS — 100.0% | $51,946,834 |
LLC – Limited Liability Company |
REIT – Real Estate Investment Trusts |
*Non-income producing security. |
1Level 3 securities fair valued under procedures established by the Board of Trustees, represents 0.02% of Total Net Assets. The total value of these securities is $9,510. |
2Callable. |
3Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities are restricted and may be resold in transactions exempt from registration normally to qualified institutional buyers. The total value of these securities is $9,510, which represents 0.02% of total net assets of the Fund. |
4Security is in default. |