Securities ▲▼ | Shares | Value ($K) | |||||
|---|---|---|---|---|---|---|---|
Q3 2025 ▲▼ | Q4 2025 ▲▼ | Change ▲▼ | Q3 2025 ▲▼ | Q4 2025 ▲▼ | Weight (%) ▲▼ | Change ▲▼ | |
| EAGLE POINT CREDIT 7.75 percent DUE 06/30/2030 | 0 | 2,573,963 | +2,573,963 | 0 | 64,606 | 1.73% | +64,606 |
| OFS CAPITAL CORP 7.5 percent DUE 7/31/2058(OFS) | 0 | 1,259,030 | +1,259,030 | 0 | 32,332 | 0.86% | +32,332 |
| SOUND POINT MERIDIAN CAPITAL 7.875 percent DUE 7/31/2030 | 0 | 1,232,329 | +1,232,329 | 0 | 31,104 | 0.83% | +31,104 |
| SARATOGA INVESTMENT CORP 6.00 percent DUE 04/30/2027 | 0 | 1,014,297 | +1,014,297 | 0 | 25,114 | 0.67% | +25,114 |
| CALAMOS STRAT TOT RETURN FD(CSQ) | 152,674 | 1,345,804 | +1,193,130 | 2,945 | 25,839 | 0.69% | +22,894 |
| OXFORD SQUARE CAPITAL CORP 7.75 percent DUE 7/31/2030 | 0 | 867,122 | +867,122 | 0 | 22,094 | 0.59% | +22,094 |
| OXFORD LANE CAPITAL CORP. 7.95 percent 2/29/2032(OXLC) | 0 | 853,683 | +853,683 | 0 | 21,573 | 0.58% | +21,573 |
| VANGUARD BD INDEX FD INC LONG TERM BOND | 1,625,433 | 1,964,668 | +339,235 | 115,162 | 136,584 | 3.65% | +21,422 |
| LAKE SUPERIOR ACQ CRP; TNT ACQ DT: 4/7/2027; CASH: $10.00(LKSP) | 0 | 1,782,358 | +1,782,358 | 0 | 17,681 | 0.47% | +17,681 |
| BLACKROCK INCOME TR INC COM(BKT) | 291,365 | 1,861,660 | +1,570,295 | 3,275 | 20,553 | 0.55% | +17,278 |
| OXFORD LANE CAPITAL CORP, 5 percent, DUE 1/31/2027 | 0 | 669,336 | +669,336 | 0 | 16,314 | 0.44% | +16,314 |
| BLACKROCK MUNIHOLDINGS FUND INC(MHD) | 7,157,298 | 8,490,550 | +1,333,252 | 84,098 | 99,679 | 2.66% | +15,581 |
| NEWTEK BUSINESS SERVICES 5.5 percent DUE 2/1/2026 | 0 | 595,191 | +595,191 | 0 | 14,993 | 0.40% | +14,993 |
| VANGUARD INTL EQUITY INDEX FD ALLWRLD EX US | 742,033 | 923,254 | +181,221 | 52,959 | 67,915 | 1.81% | +14,956 |
| GREAT ELM CAPITAL CORP 5 7/8 percent DUE 6/30/2026 | 0 | 592,725 | +592,725 | 0 | 14,818 | 0.40% | +14,818 |
| TERRA INCOME 6 7 percent DUE 3/31/2026 | 0 | 594,051 | +594,051 | 0 | 14,780 | 0.39% | +14,780 |
| OXFORD LANE CAPITAL CORP. 7.125 percent 6/30/2029 | 0 | 603,268 | +603,268 | 0 | 14,659 | 0.39% | +14,659 |
| GLADSTONE INVESTMENT CORP 5 percent DUE 5/1/2026 | 0 | 537,845 | +537,845 | 0 | 13,527 | 0.36% | +13,527 |
| AI INFRASTRUCTURE ACQ CRP; TNT ACQ DT: 4/3/2027; CASH: $10.00 ORD SHS CL A | 0 | 1,241,923 | +1,241,923 | 0 | 12,345 | 0.33% | +12,345 |
| GLADSTONE INVESTMENT CORP 7.875 percent 02/01/2023 | 0 | 480,025 | +480,025 | 0 | 12,308 | 0.33% | +12,308 |
| MCKINLEY ACQ CRP; TNT ACQ DT: 8/12/2027; CASH: $10.00(MKLY) | 0 | 1,226,785 | +1,226,785 | 0 | 12,231 | 0.33% | +12,231 |
| OXFORD LANE CAPITAL CORP 6 percent DUE 8/31/2029 | 0 | 516,391 | +516,391 | 0 | 12,086 | 0.32% | +12,086 |
| GREAT ELM CAPITAL CORP 7.75 percent DUE 12/31/2030 | 0 | 480,605 | +480,605 | 0 | 12,034 | 0.32% | +12,034 |
| VANGUARD BD INDEX FD INC TOTAL BND MRKT | 501,916 | 665,035 | +163,119 | 37,328 | 49,259 | 1.32% | +11,932 |
| LIBERTY ALL-STAR EQUITY FUND(USA) | 0 | 1,830,510 | +1,830,510 | 0 | 11,496 | 0.31% | +11,496 |
| OFS CAPITAL CORP 4.95 percent DUE 10/31/2028 | 0 | 479,881 | +479,881 | 0 | 11,368 | 0.30% | +11,368 |
| DRUGS MADE IN AMERICA ACQ CRP II; TNT ACQ DT: 9/25/2027; CASH: $10.00 USD ORD SHS | 0 | 1,143,625 | +1,143,625 | 0 | 11,322 | 0.30% | +11,322 |
| OFS CREDIT CO 5.25 percent DUE 12/31/2026 | 0 | 452,345 | +452,345 | 0 | 11,172 | 0.30% | +11,172 |
| EAGLE POINT CREDIT 5.375 percent DUE 1/31/2029(ECC) | 0 | 443,719 | +443,719 | 0 | 10,605 | 0.28% | +10,605 |
| SOUND POINT MERIDIAN CAPITAL, INC. 8 percent 11/30/2029 | 0 | 402,904 | +402,904 | 0 | 10,148 | 0.27% | +10,148 |
| BLACKROCK NEW YORK MUNICIPAL INCOME TRUST | 683,976 | 1,653,365 | +969,389 | 6,922 | 16,765 | 0.45% | +9,843 |
| PEARL DIVER CREDIT COMPANY INC. 8 percent 12/31/2029 | 0 | 362,372 | +362,372 | 0 | 9,148 | 0.24% | +9,148 |
| EMMIS ACQ CRP; TNT ACQ DT: 3/25/2027; CASH: $10.00(EMIS) | 0 | 913,836 | +913,836 | 0 | 9,074 | 0.24% | +9,074 |
| GLOBA TERRA ACQ CRP; TNT ACQ DT: 10/08/2026; CASH: $10.00 CL A ORD SHS | 153,577 | 956,762 | +803,185 | 1,533 | 9,663 | 0.26% | +8,131 |
| GREAT ELM CAPITAL CORP 8.125 percent DUE 12/31/2029 | 0 | 322,014 | +322,014 | 0 | 8,099 | 0.22% | +8,099 |
| SARATOGA INVESTMENT CORP 8.50 percent DUE 04/15/2028 | 0 | 315,605 | +315,605 | 0 | 7,994 | 0.21% | +7,994 |
| CRESCENT CAPITAL BDC INC | 0 | 317,674 | +317,674 | 0 | 7,958 | 0.21% | +7,958 |
| CHENGHE ACQ CRP III; TNT ACQ DT: 3/16/2027; CASH: $10.00(CHEC) | 0 | 795,850 | +795,850 | 0 | 7,935 | 0.21% | +7,935 |
| BLACKROCK MUNIYIELD QUALITY(MQY) | 0 | 683,812 | +683,812 | 0 | 7,727 | 0.21% | +7,727 |
| OXLEY BRIDGE ACQ CRP; TNT ACQ DT: 6/25/2027; CASH: $10.00 USD CL A ORD SHS | 0 | 766,400 | +766,400 | 0 | 7,725 | 0.21% | +7,725 |
| NMP ACQ CRP; TNT ACQ DT: 1/2/2027; CASH: $10.00(NMP) | 0 | 767,290 | +767,290 | 0 | 7,688 | 0.21% | +7,688 |
| BLACKROCK SCIENCE & TECH TR(BST) | 361,100 | 543,547 | +182,447 | 14,935 | 22,035 | 0.59% | +7,100 |
| CROWN RESERVE ACQUSITION CORP ORD SHS CL A | 0 | 713,825 | +713,825 | 0 | 7,095 | 0.19% | +7,095 |
| BLACKROCK MUNIHOLDINGS QUALITY FUND II INC | 22,050 | 726,931 | +704,881 | 222 | 7,291 | 0.19% | +7,069 |
| OFS CREDIT CO 7 7/8 percent DUE 10/31/2029 | 0 | 269,146 | +269,146 | 0 | 6,774 | 0.18% | +6,774 |
| CARLYLE CREDIT INCOME FUND 7.375 percent DUE 10/30/2028 | 0 | 264,150 | +264,150 | 0 | 6,686 | 0.18% | +6,686 |
| KOCHAV DEFENSE ACQ CRP; TNT ACQ DT: 11/28/2026; CASH: $10.00 SHS CL A | 114,987 | 764,019 | +649,032 | 1,153 | 7,747 | 0.21% | +6,594 |
| A PARADISE ACQ CRP; TTNT ACQ DT: 7/30/2027; CASH: $10.00 COM CL A | 0 | 654,061 | +654,061 | 0 | 6,573 | 0.18% | +6,573 |
| OPPORTUNISTIC VALUE FUND, D SUB-SERIES | 0 | 577,234 | +577,234 | 0 | 6,484 | 0.17% | +6,484 |
| BLACKROCK 2030 MUNICIPAL TARGET TERM TRUST(BTT) | 4,407,881 | 4,618,725 | +210,844 | 99,001 | 105,399 | 2.81% | +6,398 |
| BLACKROCK MUNIYIELD FUND, INC. | 209,271 | 815,853 | +606,582 | 2,210 | 8,558 | 0.23% | +6,348 |
| CION INVESTMENT CORP 7.5 percent DUE 12/30/2029 | 0 | 242,975 | +242,975 | 0 | 6,116 | 0.16% | +6,116 |
| EAGLE POINT INST INCOME FUND 8.125 percent DUE 10/31/29 | 0 | 241,666 | +241,666 | 0 | 6,092 | 0.16% | +6,092 |
| INDIGO ACQ CRP; TNT ACQ DT: 03/30/2027; CASH: $10.00(INAC) | 105,050 | 658,772 | +553,722 | 1,047 | 6,607 | 0.18% | +5,560 |
| BLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUND(MUC) | 4,758,154 | 5,389,509 | +631,355 | 51,626 | 57,129 | 1.53% | +5,503 |
| ALLSPRING GLOBAL DIVIDEND OPPORTUNITY FUND(EOD) | 784,438 | 1,641,368 | +856,930 | 4,471 | 9,569 | 0.26% | +5,098 |
| CALISA ACQ CRP; TNT ACQ DT: 4/22/2027; CASH: $10.00(ALIS) | 0 | 500,375 | +500,375 | 0 | 4,969 | 0.13% | +4,969 |
| QUANTUMSPHERE ACQ CRP; TNT ACQ DT: 2/6/2027; CASH: $10.00(QUMS) | 0 | 494,350 | +494,350 | 0 | 4,948 | 0.13% | +4,948 |
| BLACKROCK MUN INC TRUST II | 4,426,402 | 4,897,546 | +471,144 | 46,256 | 51,130 | 1.37% | +4,874 |
| BLACKROCK MUNICIPAL INCOME QUALITY TRUST | 99,391 | 539,666 | +440,275 | 1,088 | 5,904 | 0.16% | +4,816 |
| OXFORD LANE CAPITAL CORP 6.375 percent 2027(OXLC) | 0 | 192,355 | +192,355 | 0 | 4,732 | 0.13% | +4,732 |
| BLACKROCK MUNICIPAL INCOME TRUST | 4,489,500 | 4,953,591 | +464,091 | 45,119 | 49,685 | 1.33% | +4,565 |
| EAGLE POINT INCOME CO 5 percent 10/30/26 | 0 | 173,736 | +173,736 | 0 | 4,276 | 0.11% | +4,276 |
| AGRICULTURE & NATURAL SOLUTIONS ACQ CRP; TNT ACQ DT: 11/10/2025; CASH: $10.00 SHS CL A | 1,339,618 | 1,685,893 | +346,275 | 14,615 | 18,865 | 0.50% | +4,250 |
| OXFORD SQUARE CAPITAL CO 5.5 percent DUE 7/31/2028 | 0 | 171,471 | +171,471 | 0 | 4,142 | 0.11% | +4,142 |
| BLACKROCK MINVESTMENT QALITY MUNICIPAL TRUST | 123,531 | 493,618 | +370,087 | 1,401 | 5,529 | 0.15% | +4,128 |
| HORIZON TECHNOLOGY FINANCE 4 7/8 percent DUE 3/30/2026 | 0 | 160,657 | +160,657 | 0 | 4,024 | 0.11% | +4,024 |
| ORIGIN ACQ CRP; TNT ACQ DT: 7/1/2027; CASH: $10.10 ORD SHS | 429,115 | 819,444 | +390,329 | 4,313 | 8,285 | 0.22% | +3,972 |
| SILVER PEGASUS ACQ CRP; TNT ACQ DT: 1/15/2027; CASH: $10.00 SHS CL A | 12,500 | 404,542 | +392,042 | 125 | 4,070 | 0.11% | +3,945 |
| OXFORD LANE CAPITAL CORP 8.75 percent DUE 06/30/2030(OXLC) | 0 | 150,975 | +150,975 | 0 | 3,871 | 0.10% | +3,871 |
| COLUMBIA SELIGMAN PREMIUM TECH(STK) | 0 | 103,580 | +103,580 | 0 | 3,811 | 0.10% | +3,811 |
| BLACKROCK MUNIYELD QUALITY FUND II | 369,564 | 746,841 | +377,277 | 3,707 | 7,506 | 0.20% | +3,799 |
| RUNWAY FINANCE CORP, 7.5 percent DUE 7/28/2027 | 0 | 145,772 | +145,772 | 0 | 3,679 | 0.10% | +3,679 |
| DWS MUNICIPAL INCOME TRUST(KTF) | 3,300,834 | 3,715,549 | +414,715 | 30,269 | 33,774 | 0.90% | +3,506 |
| BlackRock MuniYield Quality Fund III | 56,400 | 375,708 | +319,308 | 625 | 4,084 | 0.11% | +3,459 |
| EAGLE POINT CREDIT CO 6.75 percent PERPETUAL PFD | 0 | 169,456 | +169,456 | 0 | 3,359 | 0.09% | +3,359 |
| BLUE ACQ CRP; TNT ACQ DT: 03/13/2027; CASH: $10.00 ORD SHS CL A | 335,102 | 652,415 | +317,313 | 3,349 | 6,661 | 0.18% | +3,312 |
| BLACKROCK HEALTH SCIENCES(BME) | 68,319 | 141,658 | +73,339 | 2,544 | 5,826 | 0.16% | +3,283 |
| ABRDN AUSTRALIA EQUITY FUND | 0 | 251,962 | +251,962 | 0 | 3,255 | 0.09% | +3,255 |
| PIONEER ACQ CRP; TNT ACQ DT: 6/18/2027; CASH: $10.00(PACH) | 160,000 | 481,088 | +321,088 | 1,590 | 4,835 | 0.13% | +3,245 |
| BLACKROCK CALIFORNIA MUNICIPAL INCOME TRUST | 0 | 285,799 | +285,799 | 0 | 3,069 | 0.08% | +3,069 |
| ISHARES LEHMAN 7-10YR TREAS | 443,638 | 476,221 | +32,583 | 42,793 | 45,793 | 1.22% | +3,000 |
| ISHARES MSCI DENMARK ETF MSCI DENMARK ETF | 54,575 | 77,516 | +22,941 | 5,950 | 8,873 | 0.24% | +2,923 |
| GREAT ELM CAPITAL CORP. 8.5 percent 04/30/2029 | 0 | 116,338 | +116,338 | 0 | 2,923 | 0.08% | +2,923 |
| ALLIANCE NATIONAL MUNICIPAL INCOME FUND | 1,281,834 | 1,539,698 | +257,864 | 13,908 | 16,660 | 0.44% | +2,752 |
| EAGLE POINT INCOME COMPANY 8 percent 04/30/2029 | 0 | 100,141 | +100,141 | 0 | 2,523 | 0.07% | +2,523 |
| VANGUARD INDEX FDS SMALL CP ETF | 329,883 | 334,706 | +4,823 | 83,883 | 86,337 | 2.31% | +2,455 |
| VENDOME ACQ CRP; TNT ACQ DT: 7/1/2027; CASH: $10.00(VNME) | 400,023 | 639,753 | +239,730 | 3,972 | 6,417 | 0.17% | +2,444 |
| VANGUARD INTL EQUITY INDEX FD FTSE EMR MKT ETF | 1,239,543 | 1,294,118 | +54,575 | 67,158 | 69,572 | 1.86% | +2,413 |
| JOHN HANCOCK INCOME SECURITIES TRUST(JHS) | 165,265 | 369,608 | +204,343 | 1,929 | 4,328 | 0.12% | +2,399 |
| SARATOGA INVESTMENT CORP 8 1/8 percent DUE 12/31/2027 | 0 | 83,275 | +83,275 | 0 | 2,108 | 0.06% | +2,108 |
| INTEGRATED WELLNESS ACQ CRP UNIT; TNT ACQ DT: 09/13/2023; CASH: $10.20 | 0 | 163,875 | +163,875 | 0 | 2,094 | 0.06% | +2,094 |
| K&F GROWTH ACQ CRP; TNT ACQ DT: 11/05/2026; CASH: $10.05 SHS CL A | 1,146,450 | 1,328,387 | +181,937 | 11,711 | 13,709 | 0.37% | +1,998 |
| OFS CREDIT 6.125 percent DUE 4/30/2026 | 0 | 78,615 | +78,615 | 0 | 1,959 | 0.05% | +1,959 |
| SOLARIUS ACQ CRP; TNT ACQ DT: 4/16/2027; CASH: $10.05 SHS CL A | 75,615 | 268,615 | +193,000 | 753 | 2,700 | 0.07% | +1,946 |
| EAGLE POINT CREDIT 8 percent DUE 01/31/2029 | 0 | 76,710 | +76,710 | 0 | 1,924 | 0.05% | +1,924 |
| COPLEY ACQ CRP; TNT ACQ DT: 4/30/2027; CASH: $10.05(COPL) | 1,359,828 | 1,535,003 | +175,175 | 13,748 | 15,657 | 0.42% | +1,909 |
| ISHARES MSCI CDA ETF | 269,534 | 286,858 | +17,324 | 13,625 | 15,470 | 0.41% | +1,845 |
| HORIZON TECHNOLOGY FINANCE CORP 6.25 percent 6/15/2027 | 0 | 73,779 | +73,779 | 0 | 1,833 | 0.05% | +1,833 |
| CALAMOS GLOBAL DYNAMIC INCOME FUND(CHW) | 1,665,758 | 1,941,888 | +276,130 | 12,560 | 14,389 | 0.38% | +1,830 |