The prospectus states the Fund seeks attractive risk-adjusted returns and current income by allocating opportunistically between private credit (direct lending, asset-based, real estate debt, equipment and aircraft leasing, royalties) and liquid credit (high yield bonds, leveraged loans, preferred and convertible securities, CLO and other structured credit), with liquid credit funding quarterly repurchases. Below investment grade, distressed and structured positions are permitted. At 3/31/2026 the Fund held one private borrower (35.1% of net assets) and a government money market fund.