Effective holdings
?
The number of equal-weight positions that would produce this portfolio's concentration (1 ÷ Herfindahl index). A 500-stock fund dominated by a few mega-caps might have only ~100 effective holdings.
19
Crowding
?
The value-weighted average number of funds that also own this fund's positions. High = consensus/crowded picks; low = holdings few other funds own.
234.0
Holdings
As of March 31, 2026 · N-PORT
| # | Security | Ticker | Shares | Value | % of fund |
|---|
| 1 |
US ULTRA BOND CBT Sep25 |
— |
2,975,069 |
$2.98M |
8.93% |
| 2 |
ARES COMMERCIAL MORTGAGE TRUST 2024-IND ARES1 2024-IND B |
— |
2,000,000 |
$2.00M |
6.01% |
| 3 |
ARES1 2024-IND2 ARES1 2024-IND2 C |
— |
2,000,000 |
$2.00M |
6.01% |
| 4 |
CMO |
BX |
2,000,000 |
$1.99M |
5.99% |
| 5 |
BX TRUST 2025-DIME TSFR1M+175 02/15/2035 144A |
— |
2,000,000 |
$1.99M |
5.97% |
| 6 |
PLYM COMMERCIAL MORTGAGE TRUST 2026-IND D TSFR1M+215 03/15/2043 144A |
— |
2,000,000 |
$1.98M |
5.95% |
| 7 |
BX Commercial Mortgage Trust, Series 2025-BCAT, Class B |
BX |
1,916,570 |
$1.91M |
5.74% |
| 8 |
BX Trust |
— |
1,778,406 |
$1.78M |
5.34% |
| 9 |
BX TRUST 2025-LUNR BX 2025-LUNR B |
— |
1,556,520 |
$1.56M |
4.67% |
| 10 |
MHP, Series 2021-STOR, Class F |
— |
1,500,000 |
$1.50M |
4.50% |
| 11 |
BX 2026-VLT9 A 144A FRN 03-15-45 |
— |
1,500,000 |
$1.49M |
4.48% |
| 12 |
SWCH COMMERCIAL MORTGAGE TRUST 2025-DATA SWCH 2025-DATA D |
SWCH |
1,500,000 |
$1.48M |
4.43% |
| 13 |
BX Trust 2024-VLT4 Floating Rate, Due 06/15/2041 |
BX |
1,443,000 |
$1.43M |
4.30% |
| 14 |
BX Trust, Series 2024-CNYN, Class A |
BX |
1,425,923 |
$1.43M |
4.28% |
| 15 |
BX TRUST 2022-IND BX 2022-IND E |
— |
1,400,000 |
$1.40M |
4.21% |
| 16 |
BX TRUST BX 2024 MDHS A 144A |
— |
1,325,151 |
$1.33M |
3.98% |
| 17 |
BX COMMERCIAL MORTGAGE TRUST 2021-CIP BX 2021-CIP D |
— |
1,270,225 |
$1.27M |
3.81% |
| 18 |
SCG Commercial Mortgage Trust, Series 2025-FLWR, Class C |
— |
1,200,000 |
$1.20M |
3.60% |
| 19 |
LV TR 2024-SHOW A VAR 10/10/2029 144A |
LV |
1,000,000 |
$1.01M |
3.02% |
| 20 |
N A |
BLP |
856,656 |
$856.86K |
2.57% |
| 21 |
NXPT COMMERCIAL MORTGAGE TRUST 2024-STOR NXPT 2024-STOR C |
— |
800,000 |
$790.66K |
2.37% |
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