1
Portfolio
of
Investments
September
30,
2024
JGH
(Unaudited)
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
LONG-TERM
INVESTMENTS
-
135.2%   
(98.0%
of
Total
Investments)
X
241,050,171
CORPORATE
BONDS
-
74
.6
%
(
54
.0
%
of
Total
Investments)
X
241,050,171
AUTOMOBILES
&
COMPONENTS
-
1.0%
$
600,000
(a)
Ford
Otomotiv
Sanayi
AS
7
.125
%
04/25/29
$
620,304
1,000,000
(a)
IHO
Verwaltungs
GmbH,
(cash
6.375%,
PIK
7.125%)
6
.375
05/15/29
978,911
476,000
(a)
Nemak
SAB
de
CV
3
.625
06/28/31
386,493
1,360,000
(a)
Phinia
Inc
6
.625
10/15/32
1,371,228
TOTAL
AUTOMOBILES
&
COMPONENTS
3,356,936
BANKS
-
0.8%
875,000
(a)
Access
Bank
PLC
6
.125
09/21/26
831,664
1,050,000
(a)
Grupo
Aval
Ltd
4
.375
02/04/30
935,006
750,000
(a)
Turkiye
Vakiflar
Bankasi
TAO
8
.994
10/05/34
783,450
TOTAL
BANKS
2,550,120
CAPITAL
GOODS
-
2.6%
5,470,000
(a)
Albion
Financing
2
Sarl
8
.750
04/15/27
5,613,144
1,500,000
(a)
Alta
Equipment
Group
Inc
9
.000
06/01/29
1,343,202
500,000
(a)
IHS
Holding
Ltd
6
.250
11/29/28
467,965
925,000
(a)
Sisecam
UK
PLC
8
.625
05/02/32
951,067
TOTAL
CAPITAL
GOODS
8,375,378
COMMERCIAL
&
PROFESSIONAL
SERVICES
-
2.3%
1,075,000
(a)
Ambipar
Lux
Sarl
9
.875
02/06/31
1,115,362
2,040,000
(a)
Garda
World
Security
Corp
8
.250
08/01/32
2,087,942
1,625,000
(a)
RR
Donnelley
&
Sons
Co
9
.500
08/01/29
1,638,829
2,000,000
(a)
RR
Donnelley
&
Sons
Co
10
.875
08/01/29
1,938,242
600,000
(a)
VT
Topco
Inc
8
.500
08/15/30
640,177
TOTAL
COMMERCIAL
&
PROFESSIONAL
SERVICES
7,420,552
CONSUMER
DISCRETIONARY
DISTRIBUTION
&
RETAIL
-
3.4%
2,120,000
(a)
Carvana
Co,
(cash
12.000%,
PIK
12.000%)
12
.000
12/01/28
2,226,430
2,275,000
Kohl's
Corp
4
.625
05/01/31
1,915,892
750,000
(a)
Michaels
Cos
Inc/The
5
.250
05/01/28
553,582
4,900,000
(a)
Michaels
Cos
Inc/The
7
.875
05/01/29
2,850,644
1,000,000
(a)
Staples
Inc
10
.750
09/01/29
970,300
878,636
(a)
Staples
Inc
12
.750
01/15/30
721,717
786,000
(a)
Velocity
Vehicle
Group
LLC
8
.000
06/01/29
818,388
1,000,000
(a),(b)
Wayfair
LLC
7
.250
10/31/29
1,024,460
TOTAL
CONSUMER
DISCRETIONARY
DISTRIBUTION
&
RETAIL
11,081,413
CONSUMER
DURABLES
&
APPAREL
-
1.4%
2,000,000
(a),(b)
CD&R
Smokey
Buyer
Inc
9
.500
10/15/29
2,001,900
2,400,000
(a),(b)
S&S
Holdings
LLC
8
.375
10/01/31
2,416,465
TOTAL
CONSUMER
DURABLES
&
APPAREL
4,418,365
CONSUMER
SERVICES
-
2.1%
1,900,000
(a)
Fertitta
Entertainment
LLC
/
Fertitta
Entertainment
Finance
Co
Inc
6
.750
07/15/30
1,770,150
2,000,000
(a)
Merlin
Entertainments
Group
US
Holdings
Inc
7
.375
02/15/31
2,007,790
2,000,000
(a)
Motion
Bondco
DAC
6
.625
11/15/27
1,902,084
1,000,000
(a)
Wynn
Macau
Ltd
5
.500
10/01/27
977,732
TOTAL
CONSUMER
SERVICES
6,657,756
CONSUMER
STAPLES
DISTRIBUTION
&
RETAIL
-
0.2%
735,000
Walgreens
Boots
Alliance
Inc
8
.125
08/15/29
733,590
TOTAL
CONSUMER
STAPLES
DISTRIBUTION
&
RETAIL
733,590
ENERGY
-
9.7%
1,000,000
(a)
Coronado
Finance
Pty
Ltd
9
.250
10/01/29
1,027,565
1,000,000
Ecopetrol
SA
5
.875
11/02/51
726,916
1,500,000
Ecopetrol
SA
8
.875
01/13/33
1,608,532
625,000
Ecopetrol
SA
6
.875
04/29/30
624,177
80,000
Ecopetrol
SA
8
.375
01/19/36
81,800
2,351,000
(a)
Energean
Israel
Finance
Ltd,
Reg
S
5
.875
03/30/31
2,006,696
485,000
(a)
Energian
Israel
Finance
Ltd,
Reg
S
8
.000
09/02/53
458,408
745,000
Genesis
Energy
LP
/
Genesis
Energy
Finance
Corp
7
.875
05/15/32
758,519
985,000
Genesis
Energy
LP
/
Genesis
Energy
Finance
Corp
8
.250
01/15/29
1,019,928
550,000
(a)
Gran
Tierra
Energy
Inc
9
.500
10/15/29
522,097
Portfolio
of
Investments
September
30,
2024
(continued)
JGH
2
PRINCIPAL  
DESCRIPTION  
RATE
MATURITY
VALUE
ENERGY
(continued)
$
2,000,000
(a)
Hilcorp
Energy
I
LP
/
Hilcorp
Finance
Co
8
.375
%
11/01/33
$
2,156,198
1,500,000
(a)
Indika
Energy
Tbk
PT
8
.750
05/07/29
1,534,023
725,000
(a)
Kosmos
Energy
Ltd
8
.750
10/01/31
714,472
1,500,000
(a)
Leviathan
Bond
Ltd,
Reg
S
6
.500
06/30/27
1,419,870
500,000
(a)
Medco
Laurel
Tree
Pte
Ltd
6
.950
11/12/28
500,048
1,500,000
(a)
Medco
Maple
Tree
Pte
Ltd
8
.960
04/27/29
1,582,494
391,000
(a)
Medco
Oak
Tree
Pte
Ltd
7
.375
05/14/26
396,623
1,870,000
(a)
Nabors
Industries
Inc
8
.875
08/15/31
1,778,884
980,000
Petrobras
Global
Finance
BV
6
.900
03/19/49
985,206
200,000
Petroleos
Mexicanos
6
.500
01/23/29
188,992
6,171,000
Petroleos
Mexicanos
6
.700
02/16/32
5,532,555
750,000
Petroleos
Mexicanos
10
.000
02/07/33
794,675
290,000
(a)
Shelf
Drilling
Holdings
Ltd
9
.625
04/15/29
267,476
1,000,000
(a)
SierraCol
Energy
Andina
LLC
6
.000
06/15/28
919,166
800,000
(a)
Talos
Production
Inc
9
.000
02/01/29
823,729
378,250
(a)
Transocean
Inc
8
.750
02/15/30
394,376
1,033,000
(a)
Tullow
Oil
PLC
10
.250
05/15/26
937,607
1,500,000
(a)
Venture
Global
LNG
Inc
9
.875
02/01/32
1,666,788
TOTAL
ENERGY
31,427,820
EQUITY
REAL
ESTATE
INVESTMENT
TRUSTS
(REITS)
-
1.8%
750,000
(a)
Uniti
Group
LP
/
Uniti
Group
Finance
Inc
/
CSL
Capital
LLC
10
.500
02/15/28
800,555
2,000,000
(a)
Uniti
Group
LP
/
Uniti
Group
Finance
Inc
/
CSL
Capital
LLC
6
.500
02/15/29
1,736,704
2,970,000
(a)
Uniti
Group
LP
/
Uniti
Group
Finance
Inc
/
CSL
Capital
LLC
10
.500
02/15/28
3,170,196
TOTAL
EQUITY
REAL
ESTATE
INVESTMENT
TRUSTS
(REITS)
5,707,455
FINANCIAL
SERVICES
-
4.9%
1,500,000
(c)
Credit
Suisse
Group
AG
7
.500
01/17/72
176,250
4,500,000
(a)
Encore
Capital
Group
Inc
8
.500
05/15/30
4,742,671
3,500,000
(a)
Icahn
Enterprises
LP
/
Icahn
Enterprises
Finance
Corp
9
.000
06/15/30
3,528,928
570,500
(a)
Mexico
Remittances
Funding
Fiduciary
Estate
Management
Sarl
4
.875
01/15/28
517,578
1,000,000
(a)
NCR
Corp
ATM
9
.500
04/01/29
1,100,869
4,000,000
OneMain
Finance
Corp
7
.125
11/15/31
4,048,056
2,000,000
(a)
VistaJet
Malta
Finance
PLC
/
Vista
Management
Holding
Inc
6
.375
02/01/30
1,718,270
TOTAL
FINANCIAL
SERVICES
15,832,622
FOOD,
BEVERAGE
&
TOBACCO
-
1.0%
1,600,000
(a)
Fiesta
Purchaser
Inc
9
.625
09/15/32
1,656,220
500,000
(a)
Minerva
Luxembourg
SA
8
.875
09/13/33
545,182
900,000
(a)
Ulker
Biskuvi
Sanayi
AS
7
.875
07/08/31
934,550
TOTAL
FOOD,
BEVERAGE
&
TOBACCO
3,135,952
HEALTH
CARE
EQUIPMENT
&
SERVICES
-
4.5%
1,750,000
(a)
CHS/Community
Health
Systems
Inc
4
.750
02/15/31
1,538,332
2,405,000
(a)
CHS/Community
Health
Systems
Inc
10
.875
01/15/32
2,650,274
242,000
(a)
CHS/Community
Health
Systems
Inc
6
.125
04/01/30
206,916
2,020,202
(a)
Global
Medical
Response
Inc
10
.000
10/31/28
2,025,253
1,295,000
(a)
LifePoint
Health
Inc
11
.000
10/15/30
1,461,260
2,500,000
(a)
LifePoint
Health
Inc
10
.000
06/01/32
2,748,417
3,770,000
(a)
Prime
Healthcare
Services
Inc
9
.375
09/01/29
3,888,692
TOTAL
HEALTH
CARE
EQUIPMENT
&
SERVICES
14,519,144
INSURANCE
-
2.2%
1,000,000
(a)
Acrisure
LLC
/
Acrisure
Finance
Inc
8
.500
06/15/29
1,044,162
1,265,000
(a)
Acrisure
LLC
/
Acrisure
Finance
Inc
8
.250
02/01/29
1,305,284
1,620,000
(a)
Alliant
Holdings
Intermediate
LLC
/
Alliant
Holdings
Co-Issuer
7
.375
10/01/32
1,642,441
1,045,000
(a)
Ardonagh
Finco
Ltd
7
.750
02/15/31
1,080,240
830,000
(a)
Ardonagh
Group
Finance
Ltd
8
.875
02/15/32
857,813
1,000,000
(a)
Fidelis
Insurance
Holdings
Ltd
6
.625
04/01/41
990,000
TOTAL
INSURANCE
6,919,940
MATERIALS
-
4.7%
750,000
AngloGold
Ashanti
Holdings
PLC
6
.500
04/15/40
787,226
1,325,000
(a),(d)
Cemex
SAB
de
CV
9
.125
N/A
1,445,304
300,000
(a)
First
Quantum
Minerals
Ltd
8
.625
06/01/31
300,601
300,000
(a),(b)
LD
Celulose
International
GmbH
7
.950
01/26/32
307,875
1,000,000
(a)
Limak
Cimento
Sanayi
ve
Ticaret
AS
9
.750
07/25/29
979,652
3
PRINCIPAL  
DESCRIPTION  
RATE
MATURITY
VALUE
MATERIALS
(continued)
$
1,580,000
(a)
Mineral
Resources
Ltd
8
.000
%
11/01/27
$
1,622,910
2,070,000
(a)
Mineral
Resources
Ltd
8
.500
05/01/30
2,156,596
750,000
(a)
NOVA
Chemicals
Corp
9
.000
02/15/30
812,340
600,000
(a)
OCP
SA
5
.125
06/23/51
487,500
1,160,000
(a)
Olympus
Water
US
Holding
Corp
6
.250
10/01/29
1,122,433
585,000
(a)
Owens-Brockway
Glass
Container
Inc
7
.250
05/15/31
600,989
500,000
(a)
Sasol
Financing
USA
LLC
8
.750
05/03/29
528,800
1,500,000
Sasol
Financing
USA
LLC
5
.500
03/18/31
1,338,283
1,170,000
(a)
SunCoke
Energy
Inc
4
.875
06/30/29
1,060,834
1,850,000
(a)
Tronox
Inc
4
.625
03/15/29
1,728,134
TOTAL
MATERIALS
15,279,477
MEDIA
&
ENTERTAINMENT
-
7.5%
1,700,000
(a)
CSC
Holdings
LLC
11
.250
05/15/28
1,641,039
2,905,000
(a)
CSC
Holdings
LLC
11
.750
01/31/29
2,807,947
2,285,000
(a)
Directv
Financing
LLC
/
Directv
Financing
Co-Obligor
Inc
5
.875
08/15/27
2,243,487
4,750,000
(a)
DISH
Network
Corp
11
.750
11/15/27
4,985,269
1,000,000
(a)
Getty
Images
Inc
9
.750
03/01/27
999,601
1,545,000
(a)
Gray
Escrow
Inc
5
.375
11/15/31
966,276
1,325,000
(a)
Gray
Television
Inc
4
.750
10/15/30
842,953
715,000
(a)
Gray
Television
Inc
10
.500
07/15/29
746,791
1,275,000
(a)
LCPR
Senior
Secured
Financing
DAC
5
.125
07/15/29
1,033,167
1,500,000
(a)
McGraw-Hill
Education
Inc
7
.375
09/01/31
1,556,360
2,000,000
(a)
McGraw-Hill
Education
Inc
8
.000
08/01/29
2,007,174
3,530,000
(a)
Univision
Communications
Inc
7
.375
06/30/30
3,416,329
925,000
(a)
Virgin
Media
Secured
Finance
PLC
5
.500
05/15/29
887,166
TOTAL
MEDIA
&
ENTERTAINMENT
24,133,559
PHARMACEUTICALS,
BIOTECHNOLOGY
&
LIFE
SCIENCES
-
2.4%
2,740,000
(a)
Bausch
Health
Cos
Inc
4
.875
06/01/28
2,144,050
4,000,000
(a)
Grifols
SA
4
.750
10/15/28
3,746,678
1,760,000
(a)
Organon
&
Co
/
Organon
Foreign
Debt
Co-Issuer
BV
7
.875
05/15/34
1,864,632
TOTAL
PHARMACEUTICALS,
BIOTECHNOLOGY
&
LIFE
SCIENCES
7,755,360
REAL
ESTATE
MANAGEMENT
&
DEVELOPMENT
-
1.5%
3,258,400
(a)
Anywhere
Real
Estate
Group
LLC
/
Anywhere
Co-Issuer
Corp
7
.000
04/15/30
3,026,899
2,175,000
Kennedy-Wilson
Inc
5
.000
03/01/31
1,952,578
TOTAL
REAL
ESTATE
MANAGEMENT
&
DEVELOPMENT
4,979,477
SOFTWARE
&
SERVICES
-
4.3%
5,200,000
(a)
Ahead
DB
Holdings
LLC
6
.625
05/01/28
5,031,671
5,000,000
(a)
Condor
Merger
Sub
Inc
7
.375
02/15/30
4,876,789
1,022,875
(a)
Rackspace
Finance
LLC
3
.500
05/15/28
511,872
3,400,000
(a)
Rocket
Software
Inc
9
.000
11/28/28
3,548,189
TOTAL
SOFTWARE
&
SERVICES
13,968,521
TELECOMMUNICATION
SERVICES
-
8.3%
355,000
(a)
Altice
France
SA
8
.125
02/01/27
290,295
1,550,000
(a)
C&W
Senior
Finance
Ltd
6
.875
09/15/27
1,544,612
725,000
(a)
CT
Trust
5
.125
02/03/32
664,717
1,500,000
(a)
Frontier
Communications
Holdings
LLC
8
.625
03/15/31
1,617,135
2,295,000
(a)
Iliad
Holding
SASU
8
.500
04/15/31
2,468,516
3,000,000
(a)
Level
3
Financing
Inc
10
.500
05/15/30
3,228,750
3,585,000
(a)
Level
3
Financing
Inc
10
.500
04/15/29
3,907,825
1,750,000
(a)
Liberty
Costa
Rica
Senior
Secured
Finance
10
.875
01/15/31
1,916,775
900,000
(a)
Millicom
International
Cellular
SA2028
2028
5
.125
01/15/28
874,461
525,000
(a)
Millicom
International
Cellular
SA
7
.375
04/02/32
539,440
200,000
(a),(b)
Sable
International
Finance
Ltd
7
.125
10/15/32
200,750
1,000,000
(a)
Vmed
O2
UK
Financing
I
PLC
7
.750
04/15/32
1,026,480
1,650,000
(a)
Windstream
Escrow
LLC
/
Windstream
Escrow
Finance
Corp
7
.750
08/15/28
1,651,551
300,000
(a),(b)
Windstream
Escrow
LLC
/
Windstream
Escrow
Finance
Corp
8
.250
10/01/31
304,990
1,646,000
(a)
Zayo
Group
Holdings
Inc
4
.000
03/01/27
1,472,253
1,500,000
(a)
Zayo
Group
Holdings
Inc
6
.125
03/01/28
1,245,000
3,690,000
(a)
Zegona
Finance
PLC
8
.625
07/15/29
3,939,075
TOTAL
TELECOMMUNICATION
SERVICES
26,892,625
Portfolio
of
Investments
September
30,
2024
(continued)
JGH
4
PRINCIPAL  
DESCRIPTION  
RATE
MATURITY
VALUE
TRANSPORTATION
-
5.0%
$
1,000,000
(a)
American
Airlines
Inc
8
.500
%
05/15/29
$
1,061,014
8,000,000
(a)
Brightline
East
LLC
11
.000
01/31/30
6,800,375
3,580,000
(a)
GN
Bondco
LLC
9
.500
10/15/31
3,768,276
750,000
(a)
Grupo
Aeromexico
SAB
de
CV
8
.500
03/17/27
757,885
1,750,000
(a)
Transnet
SOC
Ltd
8
.250
02/06/28
1,814,015
2,000,000
(a)
VistaJet
Malta
Finance
PLC
/
Vista
Management
Holding
Inc
9
.500
06/01/28
1,954,775
TOTAL
TRANSPORTATION
16,156,340
UTILITIES
-
3.0%
750,000
(a)
AES
Espana
BV
5
.700
05/04/28
712,613
500,000
(a)
Continuum
Green
Energy
India
Pvt
/
Co-Issuers
7
.500
06/26/33
525,000
625,000
(a)
Electricidad
Firme
de
Mexico
Holdings
SA
de
CV
4
.900
11/20/26
605,794
1,000,000
(a)
Empresa
de
Transmision
Electrica
SA
5
.125
05/02/49
785,428
600,000
(a)
EnfraGen
Energia
Sur
SA
/
EnfraGen
Spain
SA
/
Prime
Energia
SpA
5
.375
12/30/30
516,911
500,000
(a)
Eskom
Holdings
SOC
Ltd
8
.450
08/10/28
529,445
1,400,000
(a)
Eskom
Holdings
SOC
Ltd
6
.350
08/10/28
1,423,943
4,425,000
(a)
Ferrellgas
LP
/
Ferrellgas
Finance
Corp
5
.875
04/01/29
4,140,870
586,004
(a)
UEP
Penonome
II
SA2020
1
6
.500
10/01/38
507,765
TOTAL
UTILITIES
9,747,769
TOTAL
CORPORATE
BONDS
(Cost
$244,032,222)
241,050,171
PRINCIPAL
DESCRIPTION
RATE
(e)
MATURITY
(f)
VALUE
X
56,208,673
VARIABLE
RATE
SENIOR
LOAN
INTERESTS
-
17
.4
%
(
12
.6
%
of
Total
Investments)
(e)
X
56,208,673
CAPITAL
GOODS
-
1.3%
$
250,000
(b)
Foundation
Building
Materials
Holding
Company
LLC,
Term
Loan
B2,
(TBD)
TBD
TBD
$
243,991
895,506
TransDigm,
Inc.,
Term
Loan
J,
(TSFR3M
+
2.500%)
7
.104
02/28/31
893,025
3,002,350
Windsor
Holdings
III,
LLC,
Term
Loan
B,
(TSFR1M
+
4.000%)
8
.461
08/01/30
3,020,320
TOTAL
CAPITAL
GOODS
4,157,336
CONSUMER
DISCRETIONARY
DISTRIBUTION
&
RETAIL
-
1.1%
1,900,000
Johnstone
Supply
LLC,
Term
Loan,
(TSFR1M
+
3.000%)
8
.174
05/16/31
1,897,625
1,461,234
PetSmart,
Inc.,
Term
Loan
B,
(TSFR1M
+
3.750%)
8
.695
02/14/28
1,450,925
345,000
(b)
Wand
NewCo
3,
Inc.,
Term
Loan
B,
(TBD)
TBD
TBD
345,000
TOTAL
CONSUMER
DISCRETIONARY
DISTRIBUTION
&
RETAIL
3,693,550
CONSUMER
DURABLES
&
APPAREL
-
0.7%
2,385,000
Varsity
Brands
LLC
,Term
Loan,
(TSFR3M
+
3.750%)
8
.821
07/28/31
2,371,835
TOTAL
CONSUMER
DURABLES
&
APPAREL
2,371,835
CONSUMER
SERVICES
-
0.7%
694,643
Carnival
Corporation,
Term
Loan
B2,
(TSFR1M
+
2.750%)
7
.595
08/09/27
697,463
1,200,000
GBT
US
III
LLC,
Term
loan
B,
(TSFR3M
+
3.000%)
8
.279
07/28/31
1,198,998
346,496
GVC
Holdings
(Gibraltar)
Limited,
Term
Loan
B,
(TSFR6M
+
2.750%)
8
.014
10/31/29
347,000
TOTAL
CONSUMER
SERVICES
2,243,461
FINANCIAL
SERVICES
-
0.6%
500,000
AAL
Delaware
Holdco,
Inc.,
Term
loan
B,
(TSFR1M
+
3.500%)
8
.345
07/30/31
502,892
1,365,000
Boost
Newco
Borrower,
LLC,
Term
loan
B,
(TSFR3M
+
2.500%)
7
.104
01/31/31
1,367,273
TOTAL
FINANCIAL
SERVICES
1,870,165
FOOD,
BEVERAGE
&
TOBACCO
-
1.6%
861,918
Pegasus
BidCo
BV,
Term
Loan,
(TSFR3M
+
3.750%)
8
.868
07/12/29
864,345
4,428,564
Triton
Water
Holdings,
Inc,
Term
Loan,
(TSFR3M
+
3.250%)
7
.918
03/31/28
4,425,907
TOTAL
FOOD,
BEVERAGE
&
TOBACCO
5,290,252
HEALTH
CARE
EQUIPMENT
&
SERVICES
-
3.8%
165,963
ICON
Luxembourg
S.A.R.L.,
Term
Loan
B,
(TSFR3M
+
2.000%)
6
.604
07/03/28
167,029
4,365,000
Insulet
Corporation,
Term
loan
B,
(TSFR1M
+
2.500%)
7
.345
07/31/31
4,390,252
2,691,515
Medline
Borrower,
LP,
Term
Loan
B,
(TSFR1M
+
2.750%)
7
.595
10/23/28
2,695,647
2,781,563
Onex
TSG
Intermediate
Corp.,
Term
Loan
B,
(TSFR3M
+
4.750%)
9
.710
02/28/28
2,782,425
1,907,989
Parexel
International
Corporation,
Term
loan
B,
(TSFR1M
+
3.000%)
7
.845
11/15/28
1,910,517
5
PRINCIPAL
DESCRIPTION  
RATE(e)
MATURITY(f)
VALUE
HEALTH
CARE
EQUIPMENT
&
SERVICES
(continued)
$
207,508
Select
Medical
Corporation,
Term
Loan
B1,
(TSFR1M
+
3.000%)
7
.845
%
03/05/27
$
208,588
TOTAL
HEALTH
CARE
EQUIPMENT
&
SERVICES
12,154,458
HOUSEHOLD
&
PERSONAL
PRODUCTS
-
0.9%
1,989,770
Illuminate
Merger
Sub
Corp.,
Term
Loan,
(TSFR3M
+
3.000%)
8
.365
05/16/28
1,987,651
774,000
Journey
Personal
Care
Corp.,
Term
Loan
B,
(TSFR1M
+
4.250%)
9
.210
03/01/28
774,000
TOTAL
HOUSEHOLD
&
PERSONAL
PRODUCTS
2,761,651
INSURANCE
-
0.2%
618,766
USI,
Inc.,
Term
Loan,
(TSFR3M
+
2.750%)
7
.354
09/27/30
617,605
TOTAL
INSURANCE
617,605
MATERIALS
-
1.0%
952,612
Berlin
Packaging
LLC,
Term
Loan
B,
(TSFR1M
+
3.750%)
8
.961
05/12/31
952,998
2,113,690
Nouryon
Finance
B.V.,
Term
Loan
B,
(TSFR3M
+
3.500%)
8
.628
04/03/28
2,119,640
277,163
W.R.
Grace
&
Co.-Conn.,
Term
Loan
B,
(TSFR3M
+
3.250%)
7
.854
09/22/28
278,202
TOTAL
MATERIALS
3,350,840
PHARMACEUTICALS,
BIOTECHNOLOGY
&
LIFE
SCIENCES
-
2.6%
41,672
ICON
Luxembourg
S.A.R.L.,
Term
Loan,
(TSFR3M
+
2.250%)
6
.604
07/03/28
41,940
1,971,695
Jazz
Financing
Lux
S.a.r.l.,
Term
Loan
B,
(TSFR1M
+
2.250%)
7
.095
05/05/28
1,971,872
6,294,028
(b),(g)
Organon
&
Co,
Term
Loan
B,
(TBD)
TBD
TBD
6,294,028
TOTAL
PHARMACEUTICALS,
BIOTECHNOLOGY
&
LIFE
SCIENCES
8,307,840
SOFTWARE
&
SERVICES
-
2.3%
3,335,000
(b)
Amazon
Holdco
Inc
,Term
Loan,
(TBD)
TBD
TBD
3,328,747
2,500,000
Fortress
Intermediate
3,
Inc,
Term
Loan
B,
(TSFR1M
+
3.750%)
8
.595
05/08/31
2,498,437
740,506
Open
Text
Corporation,
Term
Loan
B,
(TSFR1M
+
2.250%)
7
.095
01/31/30
744,083
221,107
Rackspace
Technology
Global,
Inc.,
Term
Loan,
First
Lien,
(TSFR1M
+
6.250%)
11
.483
05/15/28
224,953
798,000
Ultimate
Software
Group
Inc
(The),
Term
Loan
B,
(TSFR3M
+
3.500%)
8
.555
02/10/31
798,998
TOTAL
SOFTWARE
&
SERVICES
7,595,218
TRANSPORTATION
-
0.4%
562,500
AAdvantage
Loyalty
IP
Ltd.,
Term
Loan,
(TSFR3M
+
4.750%)
10
.294
04/20/28
579,139
591,019
Brown
Group
Holding,
LLC,
Term
Loan
B2,
(TSFR3M
+
2.750%)
8
.322
07/01/31
590,442
4,933
SkyMiles
IP
Ltd.,
Term
Loan
B,
(TSFR3M
+
3.750%)
9
.032
10/20/27
5,030
TOTAL
TRANSPORTATION
1,174,611
UTILITIES
-
0.2%
617,187
Talen
Energy
Supply,
LLC,
Term
Loan
B,
(TSFR3M
+
3.500%)
8
.596
05/17/30
619,851
TOTAL
UTILITIES
619,851
TOTAL
VARIABLE
RATE
SENIOR
LOAN
INTERESTS
(Cost
$55,818,014)
56,208,673
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
X
55,396,789
SOVEREIGN
DEBT
-
17
.1
%
(
12
.4
%
of
Total
Investments)
X
55,396,789
ANGOLA
-
1.0%
$
900,000
(a)
Angolan
Government
International
Bond
8
.000
11/26/29
$
817,443
1,050,000
(a)
Angolan
Government
International
Bond
8
.750
04/14/32
941,543
1,500,000
(a)
Angolan
Government
International
Bond
8
.250
05/09/28
1,423,734
TOTAL
ANGOLA
3,182,720
ARGENTINA
-
0.8%
2,100,000
Argentine
Republic
Government
International
Bond
5
.000
01/09/38
1,094,979
3,025,000
Argentine
Republic
Government
International
Bond
4
.125
07/09/35
1,452,000
TOTAL
ARGENTINA
2,546,979
BENIN
-
0.3%
1,025,000
(a)
Benin
Government
International
Bond
7
.960
02/13/38
1,016,031
TOTAL
BENIN
1,016,031
BRAZIL
-
0.3%
1,000,000
Brazilian
Government
International
Bond
7
.125
05/13/54
1,034,617
TOTAL
BRAZIL
1,034,617
Portfolio
of
Investments
September
30,
2024
(continued)
JGH
6
PRINCIPAL  
DESCRIPTION  
RATE
MATURITY
VALUE
COLOMBIA
-
1.0%
$
1,400,000
Colombia
Government
International
Bond
5
.625
%
02/26/44
$
1,126,573
1,320,000
Colombia
Government
International
Bond
7
.500
02/02/34
1,368,885
700,000
Colombia
Government
International
Bond
8
.750
11/14/53
766,823
TOTAL
COLOMBIA
3,262,281
COTE
D'IVOIRE
-
1.2%
1,318,057
(a)
Ivory
Coast
Government
International
Bond
5
.750
12/31/32
1,259,146
1,700,000
(a)
Ivory
Coast
Government
International
Bond
8
.250
01/30/37
1,748,804
750,000
(a)
Ivory
Coast
Government
International
Bond
6
.125
06/15/33
705,933
TOTAL
COTE
D'IVOIRE
3,713,883
DOMINICAN
REPUBLIC
-
0.3%
1,175,000
(a)
Dominican
Republic
International
Bond
5
.300
01/21/41
1,079,496
TOTAL
DOMINICAN
REPUBLIC
1,079,496
ECUADOR
-
0.5%
1,767,500
(a)
Ecuador
Government
International
Bond
5
.000
07/31/30
1,283,395
371,475
(a)
Ecuador
Government
International
Bond
1
.000
07/31/35
210,593
88,000
(a)
Ecuador
Government
International
Bond
5
.000
07/31/40
45,260
TOTAL
ECUADOR
1,539,248
EGYPT
-
1.3%
2,300,000
(a)
Egypt
Government
International
Bond
7
.053
01/15/32
1,990,682
1,700,000
(a)
Egypt
Government
International
Bond
7
.600
03/01/29
1,638,401
975,000
(a)
Egypt
Government
International
Bond
8
.500
01/31/47
785,947
TOTAL
EGYPT
4,415,030
EL
SALVADOR
-
0.8%
925,000
(a)
El
Salvador
Government
International
Bond
8
.625
02/28/29
908,775
1,575,000
(a)
El
Salvador
Government
International
Bond
9
.250
04/17/30
1,563,601
1,000,000
(a)
El
Salvador
Government
International
Bond
0
.250
04/17/30
19,966
TOTAL
EL
SALVADOR
2,492,342
HONDURAS
-
0.6%
1,250,000
(a)
Honduras
Government
International
Bond
6
.250
01/19/27
1,207,350
750,000
(a)
Honduras
Government
International
Bond
5
.625
06/24/30
663,375
TOTAL
HONDURAS
1,870,725
IRAQ
-
0.4%
1,356,250
(a)
Iraq
International
Bond
5
.800
01/15/28
1,314,263
TOTAL
IRAQ
1,314,263
JORDAN
-
0.2%
825,000
(a)
Jordan
Government
International
Bond
5
.850
07/07/30
777,566
TOTAL
JORDAN
777,566
KENYA
-
1.0%
2,000,000
(a)
Republic
of
Kenya
Government
International
Bond
7
.000
05/22/27
1,962,844
825,000
(a)
Republic
of
Kenya
Government
International
Bond
6
.300
01/23/34
674,713
750,000
(a)
Republic
of
Kenya
Government
International
Bond
9
.750
02/16/31
758,025
TOTAL
KENYA
3,395,582
MONGOLIA
-
0.4%
675,000
(a)
Mongolia
Government
International
Bond
4
.450
07/07/31
598,392
500,000
(a)
Mongolia
Government
International
Bond
8
.650
01/19/28
534,000
TOTAL
MONGOLIA
1,132,392
NIGERIA
-
0.7%
1,200,000
(a)
Nigeria
Government
International
Bond
6
.125
09/28/28
1,088,921
1,425,000
(a)
Nigeria
Government
International
Bond
7
.875
02/16/32
1,282,141
TOTAL
NIGERIA
2,371,062
PANAMA
-
0.4%
1,000,000
Panama
Government
International
Bond
8
.000
03/01/38
1,129,298
TOTAL
PANAMA
1,129,298
RWANDA
-
0.6%
2,450,000
(a)
Rwanda
International
Government
Bond
5
.500
08/09/31
2,025,832
TOTAL
RWANDA
2,025,832
SENEGAL
-
0.6%
2,100,000
(a)
Senegal
Government
International
Bond
6
.250
05/23/33
1,808,363
TOTAL
SENEGAL
1,808,363
7
PRINCIPAL  
DESCRIPTION  
RATE
MATURITY
VALUE
SOUTH
AFRICA
-
0.8%
$
1,400,000
Republic
of
South
Africa
Government
International
Bond
5
.000
%
10/12/46
$
1,081,962
1,475,000
Republic
of
South
Africa
Government
International
Bond
7
.300
04/20/52
1,466,121
TOTAL
SOUTH
AFRICA
2,548,083
TURKEY
-
2.5%
1,050,000
(b)
Turkiye
Government
International
Bond
6
.500
01/03/35
1,029,525
1,375,000
Turkiye
Government
International
Bond
4
.875
04/16/43
1,036,509
1,225,000
Turkiye
Government
International
Bond
6
.000
01/14/41
1,078,000
1,250,000
Turkiye
Government
International
Bond
5
.875
06/26/31
1,213,070
1,500,000
Turkiye
Government
International
Bond
6
.500
09/20/33
1,483,500
2,225,000
Turkiye
Government
International
Bond
7
.625
05/15/34
2,361,310
TOTAL
TURKEY
8,201,914
UKRAINE
-
0.1%
335,400
(a)
Ukraine
Government
International
Bond
1
.750
02/01/35
144,557
269,339
(a)
Ukraine
Government
International
Bond
1
.750
02/01/36
114,792
64,899
(a)
Ukraine
Government
International
Bond
1
.750
02/01/29
38,024
242,291
(a)
Ukraine
Government
International
Bond
1
.750
02/01/34
107,335
49,812
(a)
Ukraine
Government
International
Bond
0
.000
02/01/30
21,668
186,147
(a)
Ukraine
Government
International
Bond
0
.000
02/01/34
63,011
157,307
(a)
Ukraine
Government
International
Bond
0
.000
02/01/35
68,507
131,089
(a)
Ukraine
Government
International
Bond
0
.000
02/01/36
56,467
TOTAL
UKRAINE
614,361
UZBEKISTAN
-
0.9%
745,000
(a)
Republic
of
Uzbekistan
International
Bond
7
.850
10/12/28
787,372
950,000
(a)
Republic
of
Uzbekistan
International
Bond
3
.900
10/19/31
811,387
1,075,000
(a)
Republic
of
Uzbekistan
International
Bond
5
.375
02/20/29
1,040,062
TOTAL
UZBEKISTAN
2,638,821
ZAMBIA
-
0.4%
1,459,178
(a)
Zambia
Government
International
Bond
5
.750
06/30/33
1,285,900
TOTAL
ZAMBIA
1,285,900
TOTAL
SOVEREIGN
DEBT
(Cost
$55,616,723)
55,396,789
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
X
51,053,415
$1,000
PAR
(OR
SIMILAR)
INSTITUTIONAL
PREFERRED
-
15
.8
%
(
11
.5
%
of
Total
Investments)
X
51,053,415
BANKS
-
2.9%
$
1,000,000
(a),(d)
Banco
del
Estado
de
Chile
7
.950
N/A
$
1,074,019
1,000,000
(a)
Banco
Nacional
de
Comercio
Exterior
SNC/Cayman
Islands
2
.720
08/11/31
912,367
800,000
Bancolombia
SA
8
.625
12/24/34
858,840
2,000,000
(d),(h)
Fifth
Third
Bancorp
(TSFR3M
+
3.295%)
7
.898
N/A
1,988,980
1,500,000
(d),(h)
First
Citizens
BancShares
Inc/NC
(TSFR3M
+
4.234%)
9
.180
N/A
1,532,864
1,000,000
(a),(d)
NBK
Tier
1
Ltd
3
.625
N/A
954,610
475,000
(a)
Turkiye
Garanti
Bankasi
AS
7
.177
05/24/27
480,939
385,000
(a)
Turkiye
Garanti
Bankasi
AS
8
.375
02/28/34
395,027
1,000,000
(a)
Yapi
ve
Kredi
Bankasi
AS
9
.250
01/17/34
1,065,379
TOTAL
BANKS
9,263,025
CAPITAL
GOODS
-
0.3%
1,000,000
(a)
AerCap
Global
Aviation
Trust
6
.500
06/15/45
998,440
TOTAL
CAPITAL
GOODS
998,440
ENERGY
-
4.9%
2,000,000
Enbridge
Inc
8
.500
01/15/84
2,236,996
1,000,000
(d)
Energy
Transfer
LP
7
.125
N/A
1,021,525
1,900,000
(d)
Energy
Transfer
LP
6
.500
N/A
1,895,455
3,000,000
(d),(h)
Plains
All
American
Pipeline
LP
(TSFR3M
+
4.372%)
9
.490
N/A
2,987,075
1,105,000
(a)
South
Bow
Canadian
Infrastructure
Holdings
Ltd
7
.625
03/01/55
1,145,168
575,000
(a)
South
Bow
Canadian
Infrastructure
Holdings
Ltd
7
.500
03/01/55
604,104
6,000,000
(a),(d)
Venture
Global
LNG
Inc
9
.000
N/A
6,081,773
TOTAL
ENERGY
15,972,096
Portfolio
of
Investments
September
30,
2024
(continued)
JGH
8
PRINCIPAL  
DESCRIPTION  
RATE
MATURITY
VALUE
FINANCIAL
SERVICES
-
0.8%
$
1,500,000
(d)
Ally
Financial
Inc
4
.700
%
N/A
$
1,307,160
1,500,000
(d)
Ally
Financial
Inc
4
.700
N/A
1,225,420
TOTAL
FINANCIAL
SERVICES
2,532,580
FOOD,
BEVERAGE
&
TOBACCO
-
0.7%
1,000,000
(a),(d)
Land
O'
Lakes
Inc
7
.000
N/A
820,000
1,500,000
(a),(d)
Land
O'
Lakes
Inc
8
.000
N/A
1,384,786
TOTAL
FOOD,
BEVERAGE
&
TOBACCO
2,204,786
INSURANCE
-
0.8%
1,765,000
Enstar
Finance
LLC
5
.750
09/01/40
1,744,147
1,000,000
(a),(d)
SBL
Holdings
Inc
6
.500
N/A
860,261
TOTAL
INSURANCE
2,604,408
MEDIA
&
ENTERTAINMENT
-
0.5%
1,750,000
Paramount
Global
6
.375
03/30/62
1,618,726
TOTAL
MEDIA
&
ENTERTAINMENT
1,618,726
REAL
ESTATE
MANAGEMENT
&
DEVELOPMENT
-
0.8%
2,500,000
(a)
EUSHI
Finance
Inc
7
.625
12/15/54
2,637,812
TOTAL
REAL
ESTATE
MANAGEMENT
&
DEVELOPMENT
2,637,812
UTILITIES
-
4.1%
600,000
(a)
AES
Andes
SA
8
.150
06/10/55
619,376
2,047,000
(a)
AltaGas
Ltd
7
.200
10/15/54
2,090,772
1,000,000
Emera
Inc
6
.750
06/15/76
1,005,770
1,500,000
(a),(d)
NRG
Energy
Inc
10
.250
N/A
1,691,946
3,360,000
PG&E
Corp
7
.375
03/15/55
3,524,214
4,000,000
(a),(d)
Vistra
Vision
LLC
8
.875
N/A
4,289,464
TOTAL
UTILITIES
13,221,542
TOTAL
$1,000
PAR
(OR
SIMILAR)
INSTITUTIONAL
PREFERRED
(Cost
$50,232,650)
51,053,415
PRINCIPAL
DESCRIPTION
(i)
RATE
MATURITY
VALUE
X
30,276,942
CONTINGENT
CAPITAL
SECURITIES
-
9
.4
%
(
6
.8
%
of
Total
Investments)
X
30,276,942
BANKS
-
7.8%
$
1,800,000
(d)
Banco
Bilbao
Vizcaya
Argentaria
SA
9
.375
N/A
$
1,987,274
400,000
(a),(d)
Banco
de
Credito
e
Inversiones
SA
8
.750
N/A
430,703
1,975,000
(a),(d)
Banco
Mercantil
del
Norte
SA/Grand
Cayman
8
.375
N/A
2,065,371
2,100,000
(d)
Banco
Santander
SA
4
.750
N/A
1,999,155
2,200,000
(d)
Banco
Santander
SA
9
.625
N/A
2,586,416
1,000,000
Bancolombia
SA
4
.625
12/18/29
989,818
1,475,000
(d)
Barclays
PLC
8
.000
N/A
1,553,309
1,000,000
(a)
BBVA
Bancomer
SA/Texas
8
.450
06/29/38
1,090,497
2,000,000
(a),(d)
BNP
Paribas
SA
7
.000
N/A
2,043,066
1,500,000
(a),(d)
BNP
Paribas
SA
8
.000
N/A
1,600,602
2,000,000
(d)
ING
Groep
NV
6
.500
N/A
2,001,674
2,000,000
(a),(d)
Intesa
Sanpaolo
SpA
7
.700
N/A
1,997,561
2,000,000
(d)
Lloyds
Banking
Group
PLC
8
.000
N/A
2,142,734
1,400,000
(d)
NatWest
Group
PLC
8
.125
N/A
1,527,305
1,000,000
(a),(d)
Societe
Generale
SA
10
.000
N/A
1,074,836
TOTAL
BANKS
25,090,321
FINANCIAL
SERVICES
-
1.6%
1,650,000
(d)
Deutsche
Bank
AG
6
.000
N/A
1,613,239
3,030,000
(a),(d)
UBS
Group
AG
9
.250
N/A
3,573,382
TOTAL
FINANCIAL
SERVICES
5,186,621
TOTAL
CONTINGENT
CAPITAL
SECURITIES
(Cost
$28,491,882)
30,276,942
SHARES
DESCRIPTION
RATE
VALUE
X
1,370,009
$25
PAR
(OR
SIMILAR)
RETAIL
PREFERRED
-
0
.4
%
(
0
.3
%
of
Total
Investments)
X
1,370,009
BANKS
-
0.1%
25,200
Western
Alliance
Bancorp
4
.250
$
508,536
TOTAL
BANKS
508,536
9
Investments
in
Derivatives
Part
F
of
Form
N-PORT
was
prepared
in
accordance
with
U.S.
generally
accepted
accounting
principles
(“U.S.
GAAP”)
and
in
conformity
with
the
applicable
rules
and
regulations
of
the
U.S.
Securities
and
Exchange
Commission
(“SEC”)
related
to
interim
filings.
Part
F
of
Form
N-PORT
does
not
include
all
information
and
footnotes
required
by
U.S.
GAAP
for
complete
financial
statements.
Certain
footnote
disclosures
normally
included
in
financial
statements
prepared
in
accordance
with
U.S.
GAAP
have
been
condensed
or
omitted
from
this
report
pursuant
to
the
rules
of
the
SEC.
For
a
full
set
of
the
Fund’s
notes
to
financial
statements,
please
refer
to
the
Fund’s
most
recently
filed
annual
or
semi-annual
report.
Fair
Value
Measurements
The
Fund’s
investments
in
securities
are
recorded
at
their
estimated
fair
value
utilizing
valuation
methods
approved
by
the
Board
of
Directors/
Trustees.
Fair
value
is
defined
as
the
price
that
would
be
received
upon
selling
an
investment
or
transferring
a
liability
in
an
orderly
transaction
to
an
independent
buyer
in
the
principal
or
most
advantageous
market
for
the
investment.
U.S.
GAAP
establishes
the
three-tier
hierarchy
which
is
used
to
SHARES  
DESCRIPTION  
RATE
VALUE
FINANCIAL
SERVICES
-
0.3%
33,625
Synchrony
Financial
8
.250
%
$
861,473
TOTAL
FINANCIAL
SERVICES
861,473
TOTAL
$25
PAR
(OR
SIMILAR)
RETAIL
PREFERRED
(Cost
$1,470,625)
1,370,009
SHARES
DESCRIPTION
VALUE
X
937,435
COMMON
STOCKS
-
0
.3
%
(
0
.2
%
of
Total
Investments)
X
937,435
TRANSPORTATION
-
0.3%
47,127
(j)
Grupo
Aeromexico
SAB
de
CV
$
937,435
TOTAL
TRANSPORTATION
937,435
TOTAL
COMMON
STOCKS
(Cost
$885,858)
937,435
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
–
ASSET-BACKED
SECURITIES
-
0.2%
(0.2%
of
Total
Investments)
–
$
127
CWABS
Asset-Backed
Certificates
Trust
2007-4,
2007
4
4
.483
04/25/47
0
750,000
(a),(c)
Industrial
DPR
Funding
Ltd,
2022
1A
5
.380
04/15/34
665,790
TOTAL
ASSET-BACKED
SECURITIES
(Cost
$750,000)
665,790
TOTAL
LONG-TERM
INVESTMENTS
(Cost
$437,297,974)
436,959,224
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
SHORT-TERM
INVESTMENTS
-
 2.8%  (2.0%
of
Total
Investments)
X
9,093,571
REPURCHASE
AGREEMENTS
-
2
.8
%
(
2
.0
%
of
Total
Investments)
X
9,093,571
$
9,093,571
(k)
Fixed
Income
Clearing
Corporation
1
.520
10/01/24
$
9,093,571
TOTAL
REPURCHASE
AGREEMENTS
(Cost
$9,093,571)
9,093,571
TOTAL
SHORT-TERM
INVESTMENTS
(Cost
$9,093,571)
9,093,571
TOTAL
INVESTMENTS
-
138
.0
%
(Cost
$
446,391,545
)
446,052,795
BORROWINGS
-
(36.8)%
(l),(m)
(
119,000,000
)
OTHER
ASSETS
&
LIABILITIES,
NET
-  (1.2)%
(
3,824,695
)
NET
ASSETS
APPLICABLE
TO
COMMON
SHARES
-
100%
$
323,228,100
Interest
Rate
Swaps
-
OTC
Uncleared
Counterparty
Notional
Amount
Fund
Pay/Receive
Floating
Rate
Floating
Rate
Index
Fixed
Rate
(Annualized)
Fixed
Rate
Payment
Frequency
Effective
Date
(n)
Optional
Termination
Date
Maturity
Date
Value
Unrealized
Appreciation
(Depreciation)
Morgan
Stanley
Capital
Services
LLC
$
87,400,000
Receive
1-Month
LIBOR
1.994%
Monthly
6/01/18
7/01/25
7/01/27
$
1,546,252
$
1,546,252
Portfolio
of
Investments
September
30,
2024
(continued)
JGH
10
maximize
the
use
of
observable
market
data
and
minimize
the
use
of
unobservable
inputs
and
to
establish
classification
of
fair
value
measurements
for
disclosure
purposes.
Observable
inputs
reflect
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Observable
inputs
are
based
on
market
data
obtained
from
sources
independent
of
the
reporting
entity.
Unobservable
inputs
reflect
management’s
assumptions
about
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Unobservable
inputs
are
based
on
the
best
information
available
in
the
circumstances.
The
following
is
a
summary
of
the
three-tiered
hierarchy
of
valuation
input
levels.
Level
1
–
Inputs
are
unadjusted
and
prices
are
determined
using
quoted
prices
in
active
markets
for
identical
securities.
Level
2
–
Prices
are
determined
using
other
significant
observable
inputs
(including
quoted
prices
for
similar
securities,
interest
rates,
credit
spreads,
etc.).
Level
3
–
Prices
are
determined
using
significant
unobservable
inputs
(including
management’s
assumptions
in
determining
the
fair
value
of
investments).
The
following
table
summarizes
the
market
value
of
the
Fund's
investments
as
of
the
end
of
the
reporting
period,
based
on
the
inputs
used
to
value
them:
The
following
is
a
reconciliation
of
the
Fund’s
Level
3
investments
held
at
the
beginning
and
end
of
the
measurement
period:
The
table
below
presents
the
transfers
in
and
out
of
the
three
valuation
levels
for
the
Fund
as
of
the
end
of
the
reporting
period
when
compared
to
the
valuation
levels
at
the
end
of
the
previous
fiscal
year.
Changes
in
valuation
inputs
or
methodologies
may
result
in
transfers
into
or
out
of
an
assigned
level
within
the
fair
value
hierarchy.
Transfers
in
or
out
of
levels
are
generally
due
to
the
availability
of
publicly
available
information
and
to
the
significance
or
extent
the
Adviser
determines
that
the
valuation
inputs
or
methodologies
may
impact
the
valuation
of
those
securities.
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Corporate
Bonds
$
–
$
240,873,921
$
176,250
$
241,050,171
Variable
Rate
Senior
Loan
Interests
–
56,208,673
–
56,208,673
Sovereign
Debt
–
55,396,789
–
55,396,789
$1,000
Par
(or
similar)
Institutional
Preferred
–
51,053,415
–
51,053,415
Contingent
Capital
Securities
–
30,276,942
–
30,276,942
$25
Par
(or
similar)
Retail
Preferred
1,370,009
–
–
1,370,009
Common
Stocks
937,435
–
–
937,435
Asset-Backed
Securities
–
–
665,790
665,790
Short-Term
Investments:
Repurchase
Agreements
–
9,093,571
–
9,093,571
Investments
in
Derivatives:
Interest
Rate
Swaps*
–
1,546,252
–
1,546,252
Variable
Rate
Senior
Loan
Interests*
–
–
–
–
Total
$
2,307,444
$
444,449,563
$
842,040
$
447,599,047
*
Represents
net
unrealized
appreciation
(depreciation).
Level
3
Corporate
Bonds
Asset
Backed
Securities
Balance
at
the
beginning
of
period
$-
$648,570
Gains
(losses):
Net
realized
gains
(losses)
-
-
Change
in
net
unrealized
appreciation
(depreciation)
-
17,220
Purchases
at
cost
-
-
Sales
at
proceeds
-
-
Net
discounts
(premiums)
-
-
Transfers
into
176,250
-
Transfers
(out
of)
-
-
Balance
at
the
end
of
period
$176,250
$665,790
Change
in
net
unrealized
appreciation
(depreciation)
during
the
period
of
Level
3
securities
held
as
of
period
end
$3,750
$17,220
Level
1
Level
2
Level
3
Transfers
In
(Transfers
Out)
Transfers
In
(Transfers
Out)
Transfers
In
(Transfers
Out)
JGH
Corporate
Bonds
$-
$-
$-
$(176,250)
$176,250
$-
11
For
Fund
portfolio
compliance
purposes,
the
Fund’s
industry
classifications
refer
to
any
one
or
more
of
the
industry
sub-classifications
used
by
one
or
more
widely
recognized
market
indexes
or
ratings
group
indexes,
and/or
as
defined
by
Fund
management.
This
definition
may
not
apply
for
purposes
of
this
report,
which
may
combine
industry
sub-classifications
into
sectors
for
reporting
ease.
All
percentages
shown
in
the
Portfolio
of
Investments
are
based
on
net
assets
applicable
to
common
shares
unless
otherwise
noted.
(a)
Security
is
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933,
as
amended.
These
securities
are
deemed
liquid
and
may
be
resold
in
transactions
exempt
from
registration,
which
are
normally
those
transactions
with
qualified
institutional
buyers.
As
of
the
end
of
the
reporting
period,
the
aggregate
value
of
these
securities
is
$297,098,664
or
66.6%
of
Total
Investments.
(b)
When-issued
or
delayed
delivery
security.
(c)
For
fair
value
measurement
disclosure
purposes,
investment
classified
as
Level
3.
(d)
Perpetual
security.
Maturity
date
is
not
applicable.
(e)
Senior
loans
generally
pay
interest
at
rates
which
are
periodically
adjusted
by
reference
to
a
base
short-term,
floating
lending
rate
(Reference
Rate)
plus
an
assigned
fixed
rate
(Spread).
These
floating
lending
rates
are
generally
(i)
the
lending
rate
referenced
by
the
Secured
Overnight
Financing
Rate
(“SOFR”),
or
(ii)
the
prime
rate
offered
by
one
or
more
major
United
States
banks.
Senior
loans
may
be
considered
restricted
in
that
the
Fund
ordinarily
is
contractually
obligated
to
receive
approval
from
the
agent
bank
and/or
borrower
prior
to
the
disposition
of
a
senior
loan.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
(f)
Senior
loans
generally
are
subject
to
mandatory
and/or
optional
prepayment.
Because
of
these
mandatory
prepayment
conditions
and
because
there
may
be
significant
economic
incentives
for
a
borrower
to
prepay,
prepayments
of
senior
loans
may
occur.
As
a
result,
the
actual
remaining
maturity
of
senior
loans
held
may
be
substantially
less
than
the
stated
maturities
shown.
(g)
Portion
of
investment
purchased
on
a
delayed
delivery
basis.
(h)
Variable
rate
security.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
(i)
Contingent
Capital
Securities
(“CoCos”)
are
hybrid
securities
with
loss
absorption
characteristics
built
into
the
terms
of
the
security
for
the
benefit
of
the
issuer.
For
example,
the
terms
may
specify
an
automatic
write-down
of
principal
or
a
mandatory
conversion
into
the
issuer’s
common
stock
under
certain
adverse
circumstances,
such
as
the
issuer’s
capital
ratio
falling
below
a
specified
level.
(j)
Non-income
producing;
issuer
has
not
declared
an
ex-dividend
date
within
the
past
twelve
months.
(k)
Agreement
with
Fixed
Income
Clearing
Corporation,
1.520%
dated
9/30/24
to
be
repurchased
at
$9,093,955
on
10/1/24,
collateralized
by
Government
Agency
Securities,
with
coupon
rate
3.500%
and
maturity
date
9/30/26,
valued
at
$9,275,519.
(l)
Borrowings
as
a
percentage
of
Total
Investments
is
26.7%.
(m)
The
Fund
may
pledge
up
to
100%
of
its
eligible
investment
(excluding
any
investments
pledged
as
collateral
to
specific
investments
in
derivatives,
when
applicable)
in
the
Portfolio
of
Investments
as
collateral
for
borrowings.
(n)
Effective
date
represents
the
date
on
which
both
the
Fund
and
counterparty
commence
interest
payment
accruals
on
each
contract.
PIK
Payment-in-kind
(“PIK”)
security.  Depending
on
the
terms
of
the
security,
income
may
be
received
in
the
form
of
cash,
securities,
or
a
combination
of
both.  The
PIK
rate
shown,
where
applicable,
represents
the
annualized
rate
of
the
last
PIK
payment
made
by
the
issuer
as
of
the
end
of
the
reporting
period.
Reg
S
Regulation
S
allows
U.S.
companies
to
sell
securities
to
persons
or
entities
located
outside
of
the
United
States
without
registering
those
securities
with
the
Securities
and
Exchange
Commission.
Specifically,
Regulation
S
provides
a
safe
harbor
from
the
registration
requirements
of
the
Securities
Act
for
the
offers
and
sales
of
securities
by
both
foreign
and
domestic
issuers
that
are
made
outside
the
United
States.
TSFR
1M
CME
Term
SOFR
1
Month
TSFR
3M
CME
Term
SOFR
3
Month
TSFR
6M
CME
Term
SOFR
6
Month
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