The fund’s investment strategy remains heavily weighted toward non-investment grade corporate debt, which accounts for over 54% of its holdings. U.S. Treasury Notes with a 2.25% coupon maturing in 2027 represent the largest single position at 1.09% of the portfolio. Other significant exposures include debt issued by 1261229 BC Ltd., DISH DBS Corp., and DaVita, Inc.

Geographically, the fund is concentrated in the United States, which comprises 68.74% of the assets, followed by smaller stakes in the United Kingdom and Canada. Credit quality metrics show a primary focus on the BB and B rating tiers, which together make up more than 71% of the fund’s total assets. With an average bond price of 97.45 and an effective duration of 3.12 years, the fund reports a 14.45% leverage ratio tied to investment operations, including swap agreements and credit default instruments.