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Harbor Convertible Securities Fund (HACSX)

Overview
Performance
Holdings
Investment Team
Documents

Overview

Current Price

as of 11/29/2022

NAV Price

$9.99

NAV Daily Change ($)

$0.01

NAV Daily Change (%)

0.10%

NAV YTD Return

-14.22%

Current 30-Day Sub. SEC Yield

2.60%

disclaimer

Current 30-Day Unsub. SEC Yield

2.55%

disclaimer

Effective 30-Day Sub. SEC Yield

2.63%

disclaimer

Effective 30-Day Unsub. SEC Yield

2.58%

disclaimer

Fund Facts

Inception Date

5/1/2011

Net Expense Ratio

0.76%disclaimer

Gross Expense Ratio

0.81%

Total Net Assets (million)

as of 10/31/2022

$126.83

Ticker

HACSX

Fund Number

2034

Share Class

Institutional

Top Ten Holdings

as of 9/30/2022

BioMarin Pharmaceutical Inc.

1.8%

CYBERARK SOFTWARE LTD 11/24 0

1.7%

Akamai Technologies Inc.

1.6%

INTEGRA LIFESCIENCES HOLDINGS 08/25 0.5

1.5%

MICROCHIP TECHNOLOGY INC SR SUBORDINA 11/24 0.125

1.4%

Dish Network Corp.

1.4%

BLOCK INC SR UNSECURED 03/25 0.125

1.3%

NUVASIVE INC SR UNSECURED 03/25 0.375

1.3%

ENVESTNET INC 08/25 0.75

1.3%

IMAX CORP 04/26 0.5

1.3%

% of Total Holdings:

14.6%

left quote

"There is no substitute for proprietary analytics in managing high yield assets."

right quote

Mark Shenkman

President, Shenkman Capital Management, Inc..

Performance

Total Returns

MONTH-END
QUARTER-END
MONTH-BY-MONTH
YEAR-BY-YEAR

Fund Name

3 Mo.

YTD Return

1 Yr.

3 Yr.

5 Yr.

10 Yr.

Since Inception

Net Expense Ratio

Gross Expense Ratio

Convertible Securities Fund

-3.22%

-15.68%

-17.62%

5.80%

6.10%

5.97%

5.47%

0.76%disclaimer

0.81%

ICE BofA US Convertible Ex Mandatory Index

-1.66%

-17.88%

-21.86%

11.16%

9.94%

11.01%

9.50%

--

--

Performance data shown represents past performance and is no guarantee of future results. Past performance is net of management fees and expenses and reflects reinvested dividends and distributions. Past performance reflects the beneficial effect of any expense waivers or reimbursements, without which returns would have been lower. Investment returns and principal value will fluctuate and when redeemed may be worth more or less than their original cost. Returns for periods less than one year are not annualized. Current performance may be higher or lower and is available through the most recent month end at harborcapital.com or by calling 800-422-1050.

The ICE BofA US Convertible Ex Mandatory Index is broadly representative of the U.S. convertible securities market, consisting of publicly traded issues, denominated in U.S. Dollars, of all credit qualities, and excluding mandatory (equity-linked) convertibles. This unmanaged index does not reflect fees and expenses and is not available for direct investment.

Price History

CHART
TABLE

Record Date

Reinvest Date

Payable Date

Return of Capital Non Taxable Dist

Ordinary Income

Total Capital Gains

Short Term Capital Gains

Mid Term Capital Gains

Long Term Capital Gains

Total Distribution

Foreign Tax Credit

Reinvest Price

9/28/2022

9/29/2022

9/29/2022

0.00000

0.01245

0.00000

--

0.00000

--

0.01245

0.00000

9.60

6/28/2022

6/29/2022

6/29/2022

0.00000

0.00426

0.00000

--

0.00000

--

0.00426

0.00000

9.82

3/29/2022

3/30/2022

3/30/2022

0.00000

0.00401

0.00000

--

0.00000

--

0.00401

0.00000

11.26

12/17/2021

12/20/2021

12/20/2021

0.00000

0.04683

1.61367

0.88695

0.00000

0.72672

1.66050

0.00000

11.43

6/28/2021

6/29/2021

6/29/2021

0.00000

0.00018

0.00000

0.00000

0.00000

0.00000

0.00018

0.00000

13.58

3/29/2021

3/30/2021

3/30/2021

0.00000

0.00303

0.00000

0.00000

0.00000

0.00000

0.00303

0.00000

13.14

12/16/2020

12/17/2020

12/17/2020

0.00000

0.07630

1.16446

0.90624

0.00000

0.25822

1.24076

0.00000

12.91

9/28/2020

9/29/2020

9/29/2020

0.00000

0.01202

0.00000

0.00000

0.00000

0.00000

0.01202

0.00000

12.40

6/26/2020

6/29/2020

6/29/2020

0.00000

0.01410

0.00000

0.00000

0.00000

0.00000

0.01410

0.00000

11.51

3/27/2020

3/30/2020

3/30/2020

0.00000

0.01694

0.00000

0.00000

0.00000

0.00000

0.01694

0.00000

9.46

12/13/2019

12/16/2019

12/16/2019

0.00000

0.03322

0.33300

0.21604

0.00000

0.11696

0.36622

0.00000

10.78

9/25/2019

9/26/2019

9/26/2019

0.00000

0.02118

0.00000

0.00000

0.00000

0.00000

0.02118

0.00000

10.71

6/26/2019

6/27/2019

6/27/2019

0.00000

0.02278

0.00000

0.00000

0.00000

0.00000

0.02278

0.00000

10.72

3/27/2019

3/28/2019

3/28/2019

0.00000

0.02241

0.00000

0.00000

0.00000

0.00000

0.02241

0.00000

10.40

12/14/2018

12/17/2018

12/17/2018

0.00000

0.10127

0.49150

0.36038

0.00000

0.13112

0.59277

0.00000

9.63

9/26/2018

9/27/2018

9/27/2018

0.00000

0.02124

0.00000

0.00000

0.00000

0.00000

0.02124

0.00000

10.97

6/27/2018

6/28/2018

6/28/2018

0.00000

0.02087

0.00000

0.00000

0.00000

0.00000

0.02087

0.00000

10.73

3/27/2018

3/28/2018

3/28/2018

0.00000

0.02058

0.00000

0.00000

0.00000

0.00000

0.02058

0.00000

10.35

12/15/2017

12/18/2017

12/18/2017

0.00000

0.02032

1.00209

1.00209

0.00000

0.00000

1.02241

0.00000

10.30

9/27/2017

9/28/2017

9/28/2017

0.00000

0.03795

0.00000

0.00000

0.00000

0.00000

0.03795

0.00000

11.14

6/28/2017

6/29/2017

6/29/2017

0.00000

0.03084

0.00000

0.00000

0.00000

0.00000

0.03084

0.00000

11.02

3/29/2017

3/30/2017

3/30/2017

0.00000

0.03770

0.00000

0.00000

0.00000

0.00000

0.03770

0.00000

10.83

12/16/2016

12/19/2016

12/19/2016

0.00000

0.06537

0.00000

0.00000

0.00000

0.00000

0.06537

0.00000

10.55

9/28/2016

9/29/2016

9/29/2016

0.00000

0.02344

0.00000

0.00000

0.00000

0.00000

0.02344

0.00000

10.64

6/28/2016

6/29/2016

6/29/2016

0.00000

0.02658

0.00000

0.00000

0.00000

0.00000

0.02658

0.00000

10.12

3/29/2016

3/30/2016

3/30/2016

0.00000

0.02476

0.00000

0.00000

0.00000

0.00000

0.02476

0.00000

9.95

12/16/2015

12/17/2015

12/17/2015

0.00000

0.14277

0.19480

0.00000

0.00000

0.19480

0.33757

0.00000

10.09

9/23/2015

9/24/2015

9/24/2015

0.00000

0.03180

0.00000

0.00000

0.00000

0.00000

0.03180

0.00000

10.61

6/26/2015

6/29/2015

6/29/2015

0.00000

0.03310

0.00000

0.00000

0.00000

0.00000

0.03310

0.00000

10.90

3/27/2015

3/30/2015

3/30/2015

0.00000

0.03480

0.00000

0.00000

0.00000

0.00000

0.03480

0.00000

10.87

12/17/2014

12/18/2014

12/18/2014

0.00000

0.11993

0.41866

0.07677

0.00000

0.34189

0.53859

0.00000

10.47

9/24/2014

9/25/2014

9/25/2014

0.00000

0.03767

0.00000

0.00000

0.00000

0.00000

0.03767

0.00000

11.19

6/25/2014

6/26/2014

6/26/2014

0.00000

0.03245

0.00000

0.00000

0.00000

0.00000

0.03245

0.00000

11.48

3/26/2014

3/27/2014

3/27/2014

0.00000

0.03708

0.00000

0.00000

0.00000

0.00000

0.03708

0.00000

11.18

12/16/2013

12/17/2013

12/17/2013

0.00000

0.09841

0.10733

0.00000

0.00000

0.10733

0.20574

0.00000

10.77

9/25/2013

9/26/2013

9/26/2013

0.00000

0.04253

0.00000

0.00000

0.00000

0.00000

0.04253

0.00000

10.77

6/26/2013

6/27/2013

6/27/2013

0.00000

0.02907

0.00000

0.00000

0.00000

0.00000

0.02907

0.00000

10.38

3/27/2013

3/28/2013

3/28/2013

0.00000

0.03753

0.00000

0.00000

0.00000

0.00000

0.03753

0.00000

10.34

12/14/2012

12/17/2012

12/17/2012

0.00000

0.11512

0.00000

0.00000

0.00000

0.00000

0.11512

0.00000

9.99

9/26/2012

9/27/2012

9/27/2012

0.00000

0.04569

0.00000

0.00000

0.00000

0.00000

0.04569

0.00000

10.01

6/27/2012

6/28/2012

6/28/2012

0.00000

0.05481

0.00000

0.00000

0.00000

0.00000

0.05481

0.00000

9.63

3/28/2012

3/29/2012

3/29/2012

0.00000

0.05282

0.00000

0.00000

0.00000

0.00000

0.05282

0.00000

9.93

12/15/2011

12/16/2011

12/16/2011

0.00000

0.09077

0.00000

0.00000

0.00000

0.00000

0.09077

0.00000

9.23

9/28/2011

9/29/2011

9/29/2011

0.00000

0.03741

0.00000

0.00000

0.00000

0.00000

0.03741

0.00000

9.29

6/28/2011

6/29/2011

6/29/2011

0.00000

0.02286

0.00000

0.00000

0.00000

0.00000

0.02286

0.00000

9.84

Holdings

Portfolio Characteristics

as of 9/30/2022

Convertible Securities Fund

ICE BofA US Convertible Ex Mandatory Index

Number of Bonds

133

478

Avg. Market Coupon (%)

0.01

0.02

Convertible Avg. Price ($)

92.81

94.3

Avg. Issue Size (MM)

718.19

869.74

Wtd. Avg. Maturity (yrs)

3.35

12.75

Top 10 Holdings

as of 9/30/2022

Company Name

Maturity Date

Coupon Rate (%)

Value ($000's)

% of Net Assets

BioMarin Pharmaceutical Inc.

8/1/2024

0.6

2,747

1.8

CYBERARK SOFTWARE LTD 11/24 0

11/15/2024

0.0

2,599

1.7

Akamai Technologies Inc.

9/1/2027

0.4

2,463

1.6

INTEGRA LIFESCIENCES HOLDINGS 08/25 0.5

8/15/2025

0.5

2,384

1.5

MICROCHIP TECHNOLOGY INC SR SUBORDINA 11/24 0.125

11/15/2024

0.1

2,231

1.4

Dish Network Corp.

8/15/2026

3.4

2,114

1.4

BLOCK INC SR UNSECURED 03/25 0.125

3/1/2025

0.1

2,074

1.3

NUVASIVE INC SR UNSECURED 03/25 0.375

3/15/2025

0.4

2,047

1.3

ENVESTNET INC 08/25 0.75

8/15/2025

0.8

2,037

1.3

IMAX CORP 04/26 0.5

4/1/2026

0.5

1,993

1.3

% of Total Holdings:

--

--

--

14.6%

This information should not be considered as a recommendation to purchase or sell a particular security. The holdings mentioned may change at any time and may not represent current or future investments.

as of 9/30/2022

Company Name

Maturity Date

Coupon Rate (%)

Market Value ($000's)

% of Net Assets

BioMarin Pharmaceutical Inc.

8/1/2024

0.6

2,747

1.8

CYBERARK SOFTWARE LTD 11/24 0

11/15/2024

0.0

2,599

1.7

Akamai Technologies Inc.

9/1/2027

0.4

2,463

1.6

INTEGRA LIFESCIENCES HOLDINGS 08/25 0.5

8/15/2025

0.5

2,384

1.5

MICROCHIP TECHNOLOGY INC SR SUBORDINA 11/24 0.125

11/15/2024

0.1

2,231

1.4

Dish Network Corp.

8/15/2026

3.4

2,114

1.4

BLOCK INC SR UNSECURED 03/25 0.125

3/1/2025

0.1

2,074

1.3

NUVASIVE INC SR UNSECURED 03/25 0.375

3/15/2025

0.4

2,047

1.3

ENVESTNET INC 08/25 0.75

8/15/2025

0.8

2,037

1.3

IMAX CORP 04/26 0.5

4/1/2026

0.5

1,993

1.3

VAIL RESORTS INC SR UNSECURED 01/26 0.00000

1/1/2026

0.0

1,957

1.3

Liberty Media Corp.

3/31/2048

2.1

1,925

1.2

PEGASYSTEMS INC SR NT 0.75 25 03/25 0.75

3/1/2025

0.8

1,911

1.2

Q2 Holdings Inc.

6/1/2026

0.8

1,908

1.2

FIVE9 INC SR UNSECURED 06/25 0.5

6/1/2025

0.5

1,887

1.2

j2 Global Inc.

11/1/2026

1.8

1,862

1.2

FORD MTR CO DEL 03/26 0

3/15/2026

0.0

1,853

1.2

ETSY INC 09/27 0.125

9/1/2027

0.1

1,826

1.2

NRG ENERGY INC COMPANY GUAR 06/48 2.75

6/1/2048

2.8

1,795

1.1

VERINT SYSTEMS INC 04/26 0.25

4/15/2026

0.3

1,793

1.1

Total SA MTN

12/2/2022

0.5

1,791

1.1

TRIPADVISOR INC 04/26 0.25

4/1/2026

0.3

1,691

1.1

Ironwood Pharmaceuticals

6/15/2024

0.8

1,678

1.1

COUPA SOFTWARE INC SR UNSECURED 06/25 0.125

6/15/2025

0.1

1,639

1.0

SPLUNK INC.

9/15/2025

1.1

1,636

1.0

Jazz Investments I Ltd.

8/15/2024

1.5

1,610

1.0

MARRIOTT VACATIONS WORLDWIDE 01/26 0

1/15/2026

0.0

1,602

1.0

BLACKSTONE MORTAGE TR 03/27 5.5

3/15/2027

5.5

1,597

1.0

STRIDE INC 09/27 1.125

9/1/2027

1.1

1,593

1.0

Insight Enterprise Co.

2/15/2025

0.8

1,558

1.0

VARONIS SYSTEM INC SR UNSECURED 08/25 1.25

8/15/2025

1.3

1,543

1.0

M/A COM TECH SOLUTIONS SR UNSECURED 03/26 0.25

3/15/2026

0.3

1,524

1.0

PARSONS CORP 08/25 0.25

8/15/2025

0.3

1,523

1.0

BOX INC 01/26 0

1/15/2026

0.0

1,522

1.0

SPIRIT AIRLINES INC 05/26 1

5/15/2026

1.0

1,516

1.0

ALTAIR ENGINEERING INC SR UNSECURED 144A 06/27 1.75

6/15/2027

1.8

1,500

1.0

Zillow Group Inc.

5/15/2025

2.8

1,487

1.0

PERFICIENT INC SR UNSECURED 144A 11/26 0.125

11/15/2026

0.1

1,469

0.9

JETBLUE AIRWAYS CORP 04/26 0.5

4/1/2026

0.5

1,469

0.9

DROPBOX INC 03/28 0

3/1/2028

0.0

1,467

0.9

CONMED CORP SR UNSECURED 144A 06/27 2.25

6/15/2027

2.3

1,454

0.9

LUMENTUM HOLDINGS INC SR UNSECURED 144A 06/28 0.5

6/15/2028

0.5

1,454

0.9

DEXCOM INC SR UNSECURED 11/25 0.25

11/15/2025

0.3

1,435

0.9

WINNEBAGO INDS INC 04/25 1.5

4/1/2025

1.5

1,411

0.9

NCL CORPORATION LTD SR UNSECURED 144A 02/27 1.125

2/15/2027

1.1

1,408

0.9

STMICROELECTRONICS NV SR UNSECURED REGS 08/25 0.0000

8/4/2025

0.0

1,405

0.9

Blackline Inc.

8/1/2024

0.1

1,400

0.9

GREENBRIER COS INC SR UNSECURED 04/28 2.875

4/15/2028

2.9

1,370

0.9

SPLUNK INC 06/27 1.125

6/15/2027

1.1

1,369

0.9

NICE LTD SR UNSECURED 09/25 0.00000

9/15/2025

0.0

1,364

0.9

Exact Sciences Corp.

3/15/2027

0.4

1,325

0.8

ENPHASE ENERGY INC SR UNSECURED 03/26 0.00000

3/1/2026

0.0

1,295

0.8

LCI INDS INC 05/26 1.125

5/15/2026

1.1

1,295

0.8

FTI Consulting Inc.

8/15/2023

2.0

1,244

0.8

NEXTERA ENERGY PARTNERS SR UNSECURED 144A 11/25 0.0000

11/15/2025

0.0

1,222

0.8

ON SEMICONDUCTOR CORP 05/27 0

5/1/2027

0.0

1,211

0.8

NOVOCURE LTD 11/25 0

11/1/2025

0.0

1,200

0.8

ALNYLAM PHARMACEUTICALS SR UNSECURED 144A 09/27 1

9/15/2027

1.0

1,193

0.8

DROPBOX INC 03/26 0

3/1/2026

0.0

1,191

0.8

DATADOG INC 06/25 0.125

6/15/2025

0.1

1,185

0.8

INSULET CORP 09/26 0.375

9/1/2026

0.4

1,175

0.8

LIVE NATION ENTERTAINMENT INC 02/25 2

2/15/2025

2.0

1,172

0.7

Pure Storage Inc.

4/15/2023

0.1

1,171

0.7

RAPID7 INC SR UNSECURED 03/27 0.25

3/15/2027

0.3

1,171

0.7

Euronet Worldwide Inc.

3/15/2049

0.8

1,142

0.7

BOOKING HLDGS INC 05/25 0.75

5/1/2025

0.8

1,132

0.7

ALLSCRIPTS MISYS HEALTH 01/27 0.875

1/1/2027

0.9

1,128

0.7

POST HOLDINGS INC SR UNSECURED 144A 08/27 2.5

8/15/2027

2.5

1,121

0.7

PATRICK INDUSTRIES INC COMPANY GUAR 144A 12/28 1.75

12/1/2028

1.8

1,082

0.7

JOHN BEAN TECHNOLOGIES CORP 05/26 0.25

5/15/2026

0.3

1,081

0.7

SOFI TECHNOLOGIES INC SR UNSECURED 144A 10/26 0.0000

10/15/2026

0.0

1,055

0.7

LIBERTY MEDIA CORP LIBERTY MEDIA CORP

8/15/2027

2.3

1,051

0.7

QIAGEN NV SR UNSECURED REGS 12/27 0.0000

12/17/2027

0.0

1,039

0.7

SNAP INC SR UNSECURED 144A 03/28 0.125

3/1/2028

0.1

1,004

0.6

JAMF HLDG CORP 09/26 0.125

9/1/2026

0.1

998

0.6

SOLAR EDGE TECHNOLOGIES SR UNSECURED 09/25 0.00000

9/15/2025

0.0

991

0.6

Twitter Inc.

6/15/2024

0.3

979

0.6

Southwest Airlines Co.

5/1/2025

1.3

976

0.6

PELOTON INTERACTIVE INC SR UNSECURED 02/26 0.00000

2/15/2026

0.0

963

0.6

Workiva Inc.

8/15/2026

1.1

952

0.6

ETSY INC SR UNSECURED 06/28 0.25

6/15/2028

0.3

943

0.6

SILICON LABORATORIES INC 06/25 0.625

6/15/2025

0.6

940

0.6

ROYAL CARIBBEAN CRUISES SR UNSECURED 144A 08/25 6

8/15/2025

6.0

920

0.6

UBER TECHNOLOGIES INC SR UNSECURED 12/25 0.00000

12/15/2025

0.0

877

0.6

BLACKLINE INC SR 03/26 0

3/15/2026

0.0

874

0.6

TELADOC HEALTH INC SR UNSECURED 06/27 1.25

6/1/2027

1.3

845

0.5

ZSCALER INC. SR UNSECURED 07/25 0.125

7/1/2025

0.1

808

0.5

DIGITALOCEAN HOLDINGS SR UNSECURED 144A 12/26 0.0000

12/1/2026

0.0

799

0.5

IAC Financeco 3 Inc.

1/15/2030

2.0

791

0.5

OKTA INC 06/26 0.375

6/15/2026

0.4

783

0.5

Akamai Technologies Inc.

5/1/2025

0.1

778

0.5

LIVONGO HEALTH COMPANY GUAR 06/25 0.875

6/1/2025

0.9

774

0.5

JAZZ INV I LTD 06/26 2

6/15/2026

2.0

721

0.5

CABLE ONE INC 03/26 0

3/15/2026

0.0

721

0.5

REALOGY GROUP/CO ISSUER 06/26 0.25

6/15/2026

0.3

711

0.5

Tandem Diabetes Care Inc.

5/1/2025

1.5

702

0.4

INTERDIGITAL INC 06/27 3.5

6/1/2027

3.5

700

0.4

HALOZYME THERAPEUTICS INC 03/27 0.25

3/1/2027

0.3

698

0.4

WAYFAIR INC SR UNSECURED 10/25 0.625

10/1/2025

0.6

679

0.4

Bofa Finance LLC MTN

5/1/2023

0.3

659

0.4

Alteryx Inc.

8/1/2026

1.0

657

0.4

Palo Alto Networks Inc.

7/1/2023

0.8

639

0.4

LUMENTUM HLDGS 12/26 0.5

12/15/2026

0.5

607

0.4

RAPID7 INC SR NT 05/25 2.25

5/1/2025

2.3

589

0.4

ITRON INC 03/26 0

3/15/2026

0.0

577

0.4

SHIFT4 PAYMENTS, INC. 08/27 0.5

8/1/2027

0.5

550

0.4

GUARDANT HEALTH INC 11/27 0

11/15/2027

0.0

547

0.4

HALOZYME THERAPEUTICS IN SR UNSECURED 144A 08/28 1

8/15/2028

1.0

532

0.3

BURLINGTON STORES INC SR UNSECURED 04/25 2.25

4/15/2025

2.3

521

0.3

REDFIN CORP 10/25 0

10/15/2025

0.0

490

0.3

ZILLOW GROUP INC SR UNSECURED 09/26 1.375

9/1/2026

1.4

483

0.3

UNITY SOFTWARE INC SR UNSECURED 144A 11/26 0.0000

11/15/2026

0.0

478

0.3

CHEESECAKE FACTORY (THE) SR UNSECURED 06/26 0.375

6/15/2026

0.4

470

0.3

CERIDIAN HCM HOLDING INC 03/26 0.25

3/15/2026

0.3

467

0.3

Conmed Corp.

2/1/2024

2.6

467

0.3

COHERUS BIOSCIENCES INC 04/26 1.5

4/15/2026

1.5

464

0.3

Ironwood Pharmaceuticals

6/15/2026

1.5

460

0.3

REDFIN CORP SR UNSECURED 04/27 0.5

4/1/2027

0.5

423

0.3

BEYOND MEAT INC 03/27 0

3/15/2027

0.0

423

0.3

TWITTER INC 03/26 0

3/15/2026

0.0

397

0.3

Exact Sciences Corp.

1/15/2025

1.0

394

0.3

SNAP INC 05/27 0

5/1/2027

0.0

389

0.2

ENPHASE ENERGY INC 03/28 0

3/1/2028

0.0

347

0.2

UPSTART HLDGS INC 08/26 0.25

8/15/2026

0.3

332

0.2

Liberty Media Corp.

10/15/2023

1.4

302

0.2

BENTLEY SYSTEMS INC SR UNSECURED 01/26 0.125

1/15/2026

0.1

300

0.2

Pandora Media LLC

12/1/2023

1.8

286

0.2

WAYFAIR INC SR UNSECURED 08/26 1

8/15/2026

1.0

274

0.2

BENTLEY SYSTEMS 07/27 0.375

7/1/2027

0.4

271

0.2

OKTA INC SR UNSECURED 09/25 0.125

9/1/2025

0.1

122

0.1

Herbalife Nutrition Ltd.

3/15/2024

2.6

51

0.0

DRAFTKINGS INC 03/28 0

3/15/2028

0.0

47

0.0

ZENDESK INC 06/25 0.625

6/15/2025

0.6

40

0.0

Total

--

--

149,749

95.6

Cash and Other Assets Less Liabilities

--

--

--

4.4

Total Net Assets

--

--

--

100%

as of 9/30/2022

Economic Sector

Convertible Securities Fund %

INFORMATION TECHNOLOGY

39.9

HEALTH CARE

17.3

CONSUMER DISCRETIONARY

13.9

COMMUNICATION SERVICES

11.3

INDUSTRIALS

6.5

FINANCIALS

2.3

UTILITIES

1.9

ENERGY

1.2

REAL ESTATE

1.0

CONSUMER STAPLES

1.0

as of 9/30/2022

Maturity

Convertible Securities Fund %

ICE BofA US Convertible Ex Mandatory Index %

0-1 yr

4.8

32.9

1-3 yr

35.4

10.8

3-5 yr

50.1

10.1

5-7 yr

5.6

20.5

7-10 yr

0.5

13.9

10-20 yr

0.0

10.6

20-30 yr

0.0

0.9

Over 30 yr

0.0

0.3

as of 9/30/2022

Duration

Convertible Securities Fund %

0-1 yr

11.0

1-3 yr

65.3

3-5 yr

20.1

5-7 yr

0.0

7-10 yr

0.0

10-20 yr

0.0

20-30 yr

0.0

Over 30 yr

0.0

Investment Team

Shenkman Capital Management, Inc.


Shenkman Capital Management, Inc. is an independently owned traditional and alternative credit manager. Over the past 30+ years, Shenkman has focused on the leveraged finance market, earning a reputation as a pioneer in the asset class as well as an early practitioner of credit research analytics. They seek to be a world leader in the research and management of leveraged finance investments for institutional and high net worth investors. Shenkman’s philosophy for achieving high risk-adjusted returns is to preserve capital under all market conditions and to maximize compound interest income through a disciplined and rigorous process predicated on comprehensive, fundamental analysis.

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Additional Documents

From time to time, certain fees and/or expenses have been voluntarily or contractually waived or reimbursed, which has resulted in higher returns. Without these waivers or reimbursements, the returns would have been lower. Voluntary waivers or reimbursements may be applied or discontinued at any time without notice. Only the Board of Trustees may modify or terminate contractual fee waivers or expense reimbursements.

There is no guarantee that the investment objective of the Fund will be achieved. Convertible securities generally tend to be of lower credit quality and the value of a convertible security generally increases and decreases with the value of the underlying common stock, but may also be sensitive to changes in interest rates. As interest rates rise, the values of convertible securities held by the Fund are likely to decrease and reduce the value of the Fund's portfolio. Credit risk is higher for the Fund because it invests primarily in convertible securities of companies with debt rated below investment grade. High yield investing poses additional credit risk related to lower-rated bonds.

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Investors should carefully consider the investment objectives, risks, charges and expenses of a fund before investing. To obtain a summary prospectus or prospectus for this and other information, click here or call 800-422-1050. Read it carefully before investing.

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