CONSOLIDATED SCHEDULE of INVESTMENTS September 30, 2016
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CONSOLIDATED SCHEDULE OF INVESTMENTS September 30, 2016 MACRO OPPORTUNITIES FUND SHARES VALUE COMMON STOCKS† - 2.8% CONSUMER, NON-CYCLICAL - 0.7% Gilead Sciences, Inc.1 19,181 $ 1,517,600 UnitedHealth Group, Inc.2 9,555 1,337,699 Kroger Co.1 42,883 1,272,767 WellCare Health Plans, Inc.*,1 10,288 1,204,622 HCA Holdings, Inc.*,1 14,595 1,103,820 Cardinal Health, Inc.1 12,227 950,038 Molina Healthcare, Inc.*,1 16,120 940,118 Express Scripts Holding Co.*,1 13,295 937,696 Biogen, Inc.*,1 2,995 937,525 AbbVie, Inc.1 14,738 929,526 Sanderson Farms, Inc.1 9,571 921,974 Laboratory Corporation of America Holdings*,1 6,601 907,506 Tyson Foods, Inc. — Class A1 11,359 848,177 McKesson Corp.1 5,061 843,922 Quest Diagnostics, Inc.1 9,359 792,052 United Therapeutics Corp.*,1 6,552 773,660 JM Smucker Co.1 5,676 769,325 Universal Health Services, Inc. — Class B1 6,219 766,305 Dr Pepper Snapple Group, Inc.1 8,044 734,498 Dean Foods Co.1 42,574 698,214 Ingredion, Inc.1 5,149 685,126 Darling Ingredients, Inc.*,1 48,752 658,640 Western Union Co.1 27,423 570,947 Charles River Laboratories International, Inc.*,1 6,417 534,793 Whole Foods Market, Inc. 18,393 521,442 Kimberly-Clark Corp. 3,887 490,306 Johnson & Johnson1 4,102 484,569 LifePoint Health, Inc.*,1 7,697 455,893 SpartanNash Co.1 15,621 451,759 Coty, Inc. — Class A* 18,760 440,860 Hologic, Inc.*,1 11,315 439,361 ResMed, Inc.1 5,969 386,732 Deluxe Corp.1 5,704 381,141 VCA, Inc.*,1 5,123 358,508 Chemed Corp.1 2,501 352,816 Hill-Rom Holdings, Inc.1 5,511 341,572 Henry Schein, Inc.*,1 2,035 331,664 Air Methods Corp.*,1 9,941 313,042 Magellan Health, Inc.*,1 5,626 302,285 Sarepta Therapeutics, Inc.* 2,680 164,579 Targus Group International Equity, Inc*,†††,3 13,186 19,252 Total Consumer, Non-cyclical 27,872,331 FINANCIAL - 0.5% California Republic Bancorp* 166,500 6,187,141 Travelers Companies, Inc.1 9,320 1,067,606 Aflac, Inc.1 12,185 875,736 Prudential Financial, Inc.1 10,417 850,548 Everest Re Group Ltd.1 3,935 747,532 State Street Corp.1 9,786 681,399 Principal Financial Group, Inc.1 12,838 661,285 Interactive Brokers Group, Inc. — Class A1 17,244 608,196 JPMorgan Chase & Co.1 7,985 531,721 Selective Insurance Group, Inc.1 12,294 490,039 Allstate Corp.1 6,732 465,720 American Financial Group, Inc.1 5,974 448,050 Aspen Insurance Holdings Ltd.1 9,339 435,104 Hanover Insurance Group, Inc.1 5,445 410,662 CONSOLIDATED SCHEDULE OF INVESTMENTS (continued) September 30, 2016 MACRO OPPORTUNITIES FUND SHARES VALUE MetLife, Inc.1 9,221 $ 409,689 Signature Bank*,1 3,147 372,762 WR Berkley Corp.1 6,124 353,722 RenaissanceRe Holdings Ltd. 2,709 325,513 Hartford Financial Services Group, Inc.1 7,573 324,276 Torchmark Corp. 4,950 316,256 Home BancShares, Inc. 2,703 56,249 Total Financial 16,619,206 TECHNOLOGY - 0.4% Xerox Corp.1 101,085 1,023,991 HP, Inc.1 55,508 862,039 SYNNEX Corp.1 7,410 845,555 Apple, Inc.1 7,234 817,804 CA, Inc.1 24,010 794,251 NetApp, Inc.1 21,014 752,721 International Business Machines Corp.1 4,508 716,095 Tessera Technologies, Inc.1 18,569 713,792 Convergys Corp.1 22,526 685,241 Oracle Corp.1 16,274 639,243 CACI International, Inc. — Class A*,1 4,813 485,632 IPG Photonics Corp.*,1 5,812 478,618 Allscripts Healthcare Solutions, Inc.*,1 34,818 458,553 NCR Corp.*,1 12,718 409,393 Teradata Corp.*,1 12,729 394,599 Mentor Graphics Corp.1 13,524 357,575 Sykes Enterprises, Inc.*,1 12,530 352,469 Seagate Technology plc 8,827 340,281 Fiserv, Inc.*,1 3,206 318,901 Broadridge Financial Solutions, Inc.1 4,614 312,783 VeriFone Systems, Inc.*,1 19,618 308,787 DST Systems, Inc.1 2,591 305,531 Icad, Inc.*,1 54,863 285,288 Qlik Technologies, Inc. A*,††,3 177 176,810 Qlik Technologies, Inc.*,†††,3 11,400 11,400 Qlik Technologies, Inc. B*,††,3 43,738 1,786 Total Technology 12,849,138 INDUSTRIAL - 0.4% Fluor Corp.1 22,967 1,178,666 Cummins, Inc.1 6,483 830,796 Huntington Ingalls Industries, Inc.1 5,004 767,714 Arrow Electronics, Inc.*,1 10,420 666,568 EMCOR Group, Inc.1 10,391 619,511 Boeing Co.1 4,653 612,986 ITT, Inc.1 16,287 583,726 Vishay Intertechnology, Inc.1 35,279 497,082 Crane Co.1 7,557 476,167 Sanmina Corp.*,1 15,635 445,128 Methode Electronics, Inc.1 12,694 443,909 Barnes Group, Inc.1 10,711 434,331 Saia, Inc.*,1 14,300 428,429 Keysight Technologies, Inc.*,1 13,259 420,178 Timken Co.1 11,424 401,439 Federal Signal Corp.1 28,802 381,915 Applied Industrial Technologies, Inc.1 7,954 371,770 ArcBest Corp.1 19,216 365,489 Mueller Industries, Inc.1 11,117 360,413 United Parcel Service, Inc. — Class B 3,154 344,921 Tech Data Corp.* 3,766 319,018 Rockwell Collins, Inc.1 3,779 318,721 Landstar System, Inc.1 4,618 314,393 Werner Enterprises, Inc.1 13,449 312,958 Avnet, Inc.1 7,489 307,498 Total Industrial 12,203,726 CONSOLIDATED SCHEDULE OF INVESTMENTS (continued) September 30, 2016 MACRO OPPORTUNITIES FUND SHARES VALUE COMMUNICATIONS - 0.3% AT&T, Inc. 1 34,502 $ 1,401,125 Verizon Communications, Inc.1 24,917 1,295,186 Cisco Systems, Inc.1 36,837 1,168,470 InterDigital, Inc.1 12,188 965,290 Time Warner, Inc.1 11,604 923,795 Viacom, Inc. — Class B1 19,223 732,396 AMC Networks, Inc. — Class A*,1 11,875 615,838 Cengage Learning Acquisitions, Inc.*,†† 21,660 525,255 Comcast Corp. — Class A1 7,761 514,865 ATN International, Inc.1 7,535 490,076 Total Communications 8,632,296 CONSUMER, CYCLICAL - 0.2% Wal-Mart Stores, Inc.1 22,031 1,588,876 CVS Health Corp.1 17,829 1,586,603 UniFirst Corp.1 8,393 1,106,701 Delta Air Lines, Inc.1 25,168 990,613 Southwest Airlines Co.1 14,341 557,722 Hawaiian Holdings, Inc.*,1 9,003 437,546 Dana, Inc.1 21,876 341,047 Thor Industries, Inc.1 3,996 338,461 Macy’s, Inc.1 8,947 331,486 Total Consumer, Cyclical 7,279,055 UTILITIES - 0.2% Consolidated Edison, Inc.1 13,599 1,024,004 Public Service Enterprise Group, Inc.1 19,781 828,230 Pinnacle West Capital Corp.1 9,548 725,553 Southwest Gas Corp.1 10,231 714,737 CenterPoint Energy, Inc.1 27,326 634,783 Edison International2 8,758 632,766 American Electric Power Company, Inc.1 9,500 609,995 AES Corp.1 37,232 478,431 Vectren Corp.1 8,690 436,238 DTE Energy Co.1 4,001 374,774 OGE Energy Corp.1 10,703 338,429 American Water Works Company, Inc.1 4,117 308,116 Total Utilities 7,106,056 ENERGY - 0.1% Titan Energy LLC* 35,116 1,035,922 First Solar, Inc.*,1 10,005 395,097 Rowan Companies plc — Class A 24,342 369,025 Total Energy 1,800,044 BASIC MATERIALS - 0.0% Mirabela Nickel Ltd.*,†††,3 7,057,522 540 Total Common Stocks (Cost $90,547,364) 94,362,392 PREFERRED STOCKS†† - 0.5% INDUSTRIAL - 0.4% Seaspan Corp. 6.38% due 04/30/193 572,000 14,528,800 FINANCIAL - 0.1% Cent CLO 16, LP due 08/1/24*,5 7,000 3,381,804 BreitBurn Energy Partners 8.00% due 12/31/49*,†††,3 389,684 60,731 GSC Partners CDO Fund V Ltd. due 11/20/16*,†††,5,7 5,200 1 Total Financial 3,442,536 Total Preferred Stocks (Cost $21,452,435) 17,971,336 CONSOLIDATED SCHEDULE OF INVESTMENTS (continued) September 30, 2016 MACRO OPPORTUNITIES FUND SHARES VALUE WARRANTS† - 0.0% Comstock Resources, Inc. $0.01, 09/06/18 15,538 $ 2 Total Warrants (Cost $—) 2 MUTUAL FUNDS† - 6.6% Guggenheim Strategy Fund I8 3,255,053 81,343,779 Guggenheim Alpha Opportunity Fund - Institutional Class8 1,881,326 50,457,164 Guggenheim Limited Duration Fund - Institutional Class8 1,951,150 48,212,909 Guggenheim Risk Managed Real Estate Fund - Institutional Class8 476,898 13,911,113 Guggenheim High Yield Fund - Insitutional Class8 1,467,807 13,357,046 Guggenheim Floating Rate Strategies Fund - Institutional Class8 477,649 12,390,218 Total Mutual Funds (Cost $215,711,306) 219,672,229 SHORT-TERM INVESTMENTS† - 5.8% Federated U.S. Treasury Cash Reserve Fund - Institutional Shares 0.17%9 187,748,900 187,748,900 Western Asset Institutional U.S. Treasury Reserves - Institutional Shares 0.18%9 6,528,508 6,528,508 Total Short-Term Investments (Cost $194,277,408) 194,277,408 FACE AMOUNT17 ASSET-BACKED SECURITIES†† - 33.4% COLLATERALIZED LOAN OBLIGATIONS - 25.0% CIFC Funding Ltd. 2014-3X INC, due 07/22/265 $ 15,400,000 9,650,339 2014-2A, 5.43% due 05/24/266,7 10,000,000 8,409,790 2015-2A, 4.49% due 12/05/246,7 6,250,000 6,149,211 2012-1X, 8.65% due 08/14/24 4,850,000 4,049,524 2013-2A, 4.28% due 04/21/256,7 4,250,000 4,005,587 2014-3A, 5.45% due 07/22/266,7 4,000,000 3,432,199 2014-1A, 3.89% due 08/14/246,7 3,250,000 3,251,067 2014-1A, 5.93% due 04/18/256,7 2,500,000 1,783,351 2014-1A, 3.48% due 04/18/256,7 1,750,000 1,750,138 2013-4A, 4.33% due 11/27/246,7 1,000,000 967,937 Treman Park CLO Ltd.