Holdings
Blackstone/GSO Senior Floating Rate Term Fund
 
Holdings (as of 06/30/2015)

Rank

Issue

Quantity ($)

Value($)
% of
Managed Assets
1.Avaya Inc, Senior Secured First Lien Term B-7 Loan,10,840,370$10,507,407.772.52%
2.Aspect Software Inc, Senior Secured First Lien Tranche B Term Loan,6,500,275$6,451,523.301.55%
3.US Foods Inc, Senior Secured First Lien Incremental Term Loan,6,123,954$6,141,376.891.47%
4.Sensus USA Inc, Senior Secured Second Lien Term Loan,5,594,538$5,566,565.081.33%
5.Crossmark Holdings Inc, Senior Secured First Lien Term Loan,6,151,181$5,545,289.921.33%
6.Compuware Corporation, Senior Secured Second Lien Term Loan,5,500,000$5,147,092.501.23%
7.SESAC Holdco II LLC, Senior Secured First Lien Term Loan,4,987,527$4,999,996.201.20%
8.Onex Carestream Finance LP, Senior Secured Second Lien Term Loan,4,628,218$4,610,862.511.11%
9.Bway Holding Company, Senior Secured First Lien Initial Term Loan,4,488,665$4,501,749.431.08%
10.Sheridan Investment Partners I LLC, Senior Secured First Lien Tranche B-2 Term Loan,5,084,797$4,491,553.851.08%
11.DTZ US Borrower LLC, Senior Secured First Lien Initial Term Loan,4,353,125$4,380,353.801.05%
12.Inmar Inc, Senior Secured First Lien Initial Term Loan,4,410,000$4,364,510.861.05%
13.Sandy Creek Energy Associates LP, Senior Secured First Lien Term Loan,4,344,117$4,344,899.411.04%
14.Lineage Logistics LLC, Senior Secured First Lien Term Loan,4,292,979$4,223,217.961.01%
15.Sports Authority (The), Senior Secured First Lien Term B Loan,4,611,833$4,015,177.390.96%
16.TTM Technologies Inc, Senior Secured First Lien Term B Loan,4,055,838$4,005,139.590.96%
17.Spencer Gifts LLC, Senior Secured First Lien Term B-1 Loan,3,989,950$3,992,443.460.96%
18.Stardust Finance Holdings Inc, Senior Secured First Lien Term Loan,3,972,802$3,983,985.160.96%
19.Truven Health Analytics Inc, Senior Secured First Lien New Tranche B Term Loan,3,988,715$3,978,743.000.95%
20.Fairpoint Communications Inc, Senior Secured First Lien Term Loan,3,922,373$3,962,224.720.95%
21.Panda Sherman Power LLC, Senior Secured First Lien Term Loan,3,979,956$3,945,131.520.95%
22.Mitchell International Inc, Senior Secured Second Lien Term Loan,3,895,978$3,900,847.690.94%
23.CITGO Holding Inc, Senior Secured First Lien Term Loan,3,855,302$3,878,433.770.93%
24.Alpha Topco Limited - Delta 2 (Lux) Sarl, Senior Secured Second Lien Term Loan,3,812,600$3,816,565.100.92%
25.FGI Operating Company LLC, Senior Secured First Lien Term B Loan,3,979,573$3,790,543.250.91%
26.Cunningham Lindsey US Inc, Senior Secured First Lien Initial Term Loan,3,841,105$3,773,885.810.91%
27.Caesars Entertainment Resort Properties LLC, Senior Secured First Lien Term B Loan,4,077,442$3,720,665.680.89%
28.Coveris Holdings SA, Senior Unsecured Bond,3,700,000$3,700,000.000.89%
29.BMC Software Finance Inc, Senior Secured First Lien Term B-3 Loan,3,892,328$3,675,214.210.88%
30.MA FinanceCo LLC, Senior Secured First Lien Initial Tranche B Term Loan,3,518,949$3,530,561.610.85%
31.Panda Liberty LLC, Senior Secured First Lien Construction B-1 Facility Term Loan,3,470,588$3,479,264.710.83%
32.PRV Aerospace LLC, Senior Secured First Lien Term Loan,3,310,602$3,276,122.050.79%
33.Informatica Corp, Senior Secured First Lien USD Term Loan,3,245,570$3,244,563.490.78%
34.Carecore National LLC, Senior Secured First Lien Term Loan,3,168,246$3,184,086.820.76%
35.Tech Finance & Co SCA, Senior Secured First Lien US Term Loan,3,155,490$3,168,648.600.76%
36.Nexeo Solutions LLC, Senior Secured First Lien Initial Term Loan,3,191,667$3,152,760.270.76%
37.DBP Holding Corp, Senior Secured First Lien Initial Term Loan,3,246,234$3,120,442.280.75%
38.Petco Holdings Inc, Senior Unsecured Bond,3,000,000$3,090,000.000.74%
39.Emerald Performance Materials LLC, Senior Secured First Lien Initial Term Loan,3,067,727$3,070,610.850.74%
40.Multi Packaging Solutions Inc, Senior Secured First Lien Initial Dollar Tranche B Term Loan,3,051,969$3,048,154.040.73%
41.Vertafore Inc, Senior Secured Second Lien Term Loan,3,000,000$3,032,505.000.73%
42.Pinnacle Operating Corporation, Senior Secured First Lien Term B Refinancing Loan,3,012,577$3,020,123.250.72%
43.LTI Holdings Inc, Senior Secured First Lien Term Loan,3,000,000$3,012,495.000.72%
44.Supervalu Inc, Senior Secured First Lien New Term Loan,2,892,564$2,901,776.940.70%
45.Epicor Software Corporation, Senior Secured First Lien Term Loan,2,862,745$2,860,440.590.69%
46.Southern Graphics Inc, Senior Secured First Lien New Term Loan,2,852,083$2,853,865.860.68%
47.Alliant Holdings I LLC, Senior Secured First Lien Initial Term Loan,2,842,799$2,853,459.970.68%
48.La Frontera Generation LLC, Senior Secured First Lien Term Loan,2,809,046$2,793,245.500.67%
49.P2 Upstream Acquisition Co, Senior Secured First Lien Term Loan,2,814,286$2,767,385.620.66%
50.Scientific Games International Inc, Senior Secured First Lien B-2 Term Loan,2,759,244$2,761,326.930.66%
51.Smile Brands Group Inc, Senior Secured First Lien Term B Loan,3,985,156$2,749,757.350.66%
52.TravelCLICK Inc, Senior Secured Second Lien Initial Term Loan,2,750,000$2,736,250.000.66%
53.PowerTeam Services LLC, Senior Secured First Lien Initial Term Loan,2,729,054$2,732,465.220.66%
54.BarBri Inc, Senior Secured First Lien Initial Term Loan,2,895,953$2,722,196.120.65%
55.Peak 10 Inc, Senior Secured First Lien Term Loan,2,700,000$2,707,600.510.65%
56.AmWins Group LLC, Senior Secured First Lien New Term Loan,2,653,467$2,681,328.180.64%
57.Alix Partners LLP, Senior Secured Second Lien 2013 Recapitalization Term Loan,2,650,000$2,679,812.500.64%
58.Jeld-Wen Inc, Senior Secured First Lien Initial Term Loan,2,653,333$2,665,777.480.64%
59.CEC Entertainment Inc, Senior Secured First Lien Term B Loan,2,704,891$2,638,391.530.63%
60.Murray Energy Corporation, Senior Secured First Lien Term B-1 Loan,2,615,385$2,605,576.930.62%
61.Panda Temple Power II LLC, Senior Secured First Lien Construction Term Loan,2,647,273$2,514,909.090.60%
62.ConvergeOne Holdings Corporation, Senior Secured First Lien Initial Term Loan,2,517,091$2,513,956.760.60%
63.Asurion LLC, Senior Secured Second Lien Term Loan,2,425,532$2,470,258.720.59%
64.Crestwood Holdings LLC, Senior Secured First Lien Tranche B-1 Term Loan,2,477,314$2,458,733.860.59%
65.Lattice Semiconductor Corporation, Senior Secured First Lien Term Loan,2,422,500$2,431,584.380.58%
66.Accellent Inc, Senior Secured First Lien Initial Term Loan,2,408,537$2,398,505.030.58%
67.SurveyMonkey.com LLC, Senior Secured First Lien Term Loan,2,353,386$2,362,211.280.57%
68.Polarpak Inc, Senior Secured First Lien Canadian Borrower USD Term Loan,2,359,346$2,347,549.390.56%
69.Phillips-Medisize Corporation, Senior Secured First Lien Initial Term Loan,2,331,329$2,337,891.760.56%
70.Caesars Entertainment Operating Company, Senior Secured First Lien Term B-5-B Loan,2,619,508$2,334,139.040.56%
71.LM US Member LLC, Senior Secured First Lien 2013 Specified Refinancing US Term Loan,2,344,642$2,332,918.480.56%
72.Exgen Texas Power LLC, Senior Secured First Lien Term Loan,2,265,847$2,237,535.570.54%
73.Templar Energy LLC, Senior Secured Second Lien Term Loan,3,000,000$2,218,500.000.53%
74.AdvancePierre Foods Inc, Senior Secured Second Lien Term Loan,2,160,000$2,195,100.000.53%
75.JLL / Delta Dutch Pledgeco BV, Senior Unsecured Bond,2,100,000$2,136,750.000.51%
76.SRS Distribution Inc, Senior Secured First Lien Term Loan,2,114,737$2,127,953.930.51%
77.Penton Media Inc, Senior Secured First Lien Term B-1 Loan,2,079,703$2,092,711.270.50%
78.Granite Acquisition Inc, Senior Secured Second Lien Term B Loan,2,030,075$2,077,446.990.50%
79.Spin Holdco Inc, Senior Secured First Lien Initial Term Loan,2,074,881$2,070,990.350.50%
80.EnergySolutions LLC, Senior Secured First Lien Advance Term Loan,2,046,234$2,058,173.530.49%
81.Sungard Availability Services Capital Inc, Senior Secured First Lien Tranche B Term Loan,2,227,874$2,055,214.100.49%
82.Sedgwick Claims Management Services Inc, Senior Secured Second Lien Incremental Term Loan,2,075,472$2,041,745.280.49%
83.Alvogen Pharma US Inc, Senior Secured First Lien Term Loan,1,991,597$2,001,554.620.48%
84.Corner Investment Propco LLC, Senior Secured First Lien Term B Loan,1,987,199$1,997,135.050.48%
85.Intelsat Jackson Hldg, Senior Unsecured Bond,2,000,000$1,985,000.000.48%
86.Telx Group Inc (The), Senior Secured First Lien Initial Term Loan,1,980,000$1,975,050.000.47%
87.MModal LLC, Senior Secured First Lien Term B Loan,2,141,732$1,973,734.100.47%
88.York Risk Services Holding Corp (Onex York Finance LP), Senior Secured First Lien Initial Term Loan,1,994,975$1,957,569.100.47%
89.Nine West Holdings Inc, Senior Secured First Lien Initial Term Loan,2,178,000$1,916,640.000.46%
90.Jonah Energy Inc, Senior Secured Second Lien Initial Term Loan,2,000,000$1,907,500.000.46%
91.Payless Inc, Senior Secured First Lien Initial Term Loan,1,989,407$1,893,249.220.45%
92.Hercules Achievement Inc, Senior Secured First Lien Initial Term Loan,1,860,938$1,876,057.620.45%
93.SMG, Senior Secured First Lien Term Loan,1,858,510$1,859,671.080.45%
94.Nextgen Finance LLC, Senior Secured First Lien Term B Loan,1,980,000$1,841,400.000.44%
95.TurboCombustor Technology Inc, Senior Secured First Lien Initial Term Loan,1,846,875$1,833,023.440.44%
96.ProQuest LLC, Senior Secured First Lien Initial Term Loan,1,790,989$1,801,072.360.43%
97.Sedgwick Claims Management Services Inc, Senior Secured Second Lien Initial Term Loan,1,818,182$1,788,636.370.43%
98.Transaction Network Services, Senior Secured First Lien Initial Term Loan,1,783,339$1,788,537.020.43%
99.Blue Coat Holdings Inc, Senior Secured First Lien Initial Term Loan,1,780,415$1,779,302.670.43%
100.eResearch Technology Inc, Senior Secured First Lien Term Loan,1,777,778$1,775,004.450.43%
101.Utex Industries Inc, Senior Secured First Lien New Initial Term Loan,1,903,846$1,767,007.220.42%
102.Neiman Marcus Group Ltd LLC, Senior Secured First Lien Other Term Loan,1,747,636$1,739,789.190.42%
103.Tekni-Plex Inc, Senior Seucred Second Lien Initial Term Loan,1,730,769$1,738,341.360.42%
104.TIBCO Software Inc, Senior Secured First Lien Term Loan,1,733,602$1,735,769.260.42%
105.Arch Coal Inc, Senior Secured First Lien Term Loan,2,474,548$1,706,287.510.41%
106.Sable International Finance Ltd, Senior Unsecured First Lien Term Loan,1,666,667$1,675,000.000.40%
107.Chief Power Finance LLC, Senior Secured First Lien Term B Advance Loan,1,638,780$1,646,974.390.39%
108.Pike Corporation, Senior Secured First Lien Initial Term Loan,1,608,737$1,616,780.240.39%
109.Progressive Solutions LLC, Senior Secured First Lien Initial Term Loan,1,561,225$1,567,079.090.38%
110.AssuredPartners Capital Inc, Senior Secured First Lien Initial Term Loan,1,561,972$1,565,885.140.38%
111.Crownrock LP / Crownrock F, Senior Unsecured Bond,1,500,000$1,560,000.000.37%
112.FHC Health Systems Inc, Senior Secured First Lien Initial Term Loan,1,564,706$1,553,361.760.37%
113.Vertafore Inc, Senior Secured First Lien New Term Loan,1,548,906$1,550,454.670.37%
114.Opal Acquisition Inc, Senior Secured First Lien Term B Loan,1,557,667$1,535,766.600.37%
115.Ship Luxco 3 Sarl - WorldPay US Finance LLC, Senior Secured First Lien Facility B2A-II Term Loan,1,522,144$1,529,991.080.37%
116.Physio-Control International Inc, Senior Secured First Lien Initial Term Loan,1,506,276$1,515,697.910.36%
117.WNA Holdings Inc, Senior Secured First Lien USD Term Loan US Borrower,1,516,052$1,508,471.360.36%
118.W3 Co, Senior Secured First Lien Term Loan,1,633,214$1,486,224.990.36%
119.Moxie Patriot LLC, Senior Secured First Lien Construction B-1 Facility Term Loan,1,481,481$1,485,185.180.36%
120.Learning Care Group (US) No. 2 Inc., Senior Secured First Lien Term Loan,1,466,667$1,474,454.680.35%
121.MSC Software Corporation, Senior Secured Second Lien Term Loan,1,500,000$1,473,750.000.35%
122.Reynolds Group Holdings Inc, Senior Secured First Lien Incremental US Term Loan,1,462,031$1,468,887.490.35%
123.Sable International Finance Ltd, Senior Secured First Lien Term Loan,1,461,769$1,463,596.320.35%
124.Curo Health Services Holding Inc, Senior Secured First Lien Term B Loan,1,425,000$1,438,366.500.34%
125.Altice Financing SA, Senior Secured First Lien Dollar Denominated Tranche Loan,1,424,148$1,434,238.330.34%
126.Hillman Group Inc (The), Senior Unsecured Bond,1,500,000$1,425,000.000.34%
127.Blackboard Inc, Senior Secured First Lien Term B-3 Loan,1,421,429$1,418,230.360.34%
128.Entercom Radio LLC, Senior Unsecured Bond,1,300,000$1,400,750.000.34%
129.HUB International Ltd, Senior Secured First Lien Initial Term Loan,1,387,147$1,378,914.370.33%
130.Priso Acquisition Corporation, Senior Secured First Lien Initial Term Loan,1,382,488$1,373,847.930.33%
131.Renaissance Learning Inc, Senior Secured First Lien Initial Term Loan,1,385,965$1,370,954.920.33%
132.Genoa a QoL Healthcare Company LLC, Senior Secured First Lien Initial Term Loan,1,345,324$1,347,005.390.32%
133.Royal Holdings Inc, Senior Secured First Lien Initial Term Loan,1,340,034$1,342,820.770.32%
134.Univision Communications Inc., Senior Secured First Lien 2013 Incremental Term Loan,1,342,079$1,334,295.340.32%
135.New Albertson's Inc, Senior Secured First Lien Term B Loan,1,320,130$1,324,254.980.32%
136.Sabre Inc, Senior Secured First Lien Incremental Term Loan,1,317,443$1,318,681.590.32%
137.Jill Acquisition LLC, Senior Secured First Lien Initial Term Loan,1,286,486$1,286,486.490.31%
138.Murray Energy Corporation, Senior Secured First Lien Term B-2 Loan,1,379,310$1,282,537.930.31%
139.TravelCLICK Inc, Senior Secured First Lien Initial Term Loan,1,231,755$1,230,984.670.30%
140.Nine West Holdings Inc, Senior Unsecured Bond,1,800,000$1,219,500.000.29%
141.PGA Holdings Inc (Press Ganey), Senior Secured First Lien New Term Loan,1,211,423$1,212,943.740.29%
142.CDS US Intermediate Holdings Inc, Senior Secured First Lien Initial Term Loan,1,184,211$1,185,690.780.28%
143.American Energy Marcellus LLC, Senior Secured First Lien Term Loan,1,481,481$1,158,340.740.28%
144.Swift Energy Co, Senior Unsecured Bond,2,000,000$1,140,000.000.27%
145.National Mentor Holdings Inc, Senior Secured First Lien Initial Tranche B Term Loan,1,074,482$1,072,805.660.26%
146.Victory Capital Operating LLC, Senior Secured First Initial Term Loan,1,047,619$1,048,928.570.25%
147.TPF II Power LLC, Senior Secured First Lien Term Loan,1,024,813$1,035,060.860.25%
148.Apex Tool Group LLC, Senior Secured First Lien Term Loan,1,043,932$1,026,534.940.25%
149.LM US Member LLC, Senior Secured Second Lien 2014 Specified Refinancing Term Loan,1,021,739$1,017,478.490.24%
150.Penn Products Terminals LLC, Senior Secured First Lien Tranche B Term Loan,997,500$1,001,554.840.24%
151.Progressive Solutions LLC, Senior Secured Second Lien Initial Term Loan,1,000,000$1,000,000.000.24%
152.Winebow Holdings Inc, Senior Secured First Lien Initial Term Loan,994,975$989,069.700.24%
153.Albertson's LLC, Senior Secured First Lien Term B-2 Loan,979,619$984,703.500.24%
154.Freescale Semiconductor Inc, Senior Secured First Lien Tranche B-4 Term Loan,980,062$981,762.250.24%
155.Jeld-Wen Inc, Senior Secured First Lien Term B-1 Loan,977,011$979,454.020.23%
156.Medpace Holdings Inc, Senior Secured First Lien Initial Term Loan,976,033$979,390.190.23%
157.Monitronics International Inc, Senior Unsecured Bond,1,000,000$970,000.000.23%
158.Indra Holdings Corp, Senior Secured First Lien Initial Term Loan,997,481$967,556.680.23%
159.DAE Aviation Holdings Inc, Senior Secured First Lien Replacement Tranche B-1 Term Loan,960,627$963,268.750.23%
160.Nord Anglia Education Finance LLC, Senior Secured First Lien Initial Term Loan,941,176$942,945.890.23%
161.Atlantic Power Limited Partnership, Senior Secured First Lien Term Loan,924,050$927,805.900.22%
162.Fairway Group Acquisition Company, Senior Secured First Lien Term Loan,966,784$899,109.570.22%
163.McJunkin Red Man Corporation, Senior Secured First Lien 2013 Term Loan,877,165$871,867.310.21%
164.Sanchez Energy Corp, Senior Unsecured Bond,950,000$855,000.000.21%
165.Drillships Ocean Ventures Inc, Senior Secured First Lien Term Loan,999,907$854,920.240.21%
166.Peak 10 Inc, Senior Secured Second Lien Initial Term Loan,875,000$835,625.000.20%
167.Caesars Entertainment Operating Company, Senior Secured First Lien Term B-6-B Loan,867,795$780,021.870.19%
168.Monitronics International Inc, Senior Secured First Lien Term B-1 Loan,771,713$775,451.960.19%
169.Tekni-Plex Inc, Senior Secured First Lien Tranche B-1 Term Loan,745,342$746,925.460.18%
170.Acrisure LLC, Senior Secured First Lien Term B Loan,731,719$730,804.760.18%
171.Dealer Tire LLC, Senior Secured First Lien Initial Term Loan,687,788$695,167.980.17%
172.Surgery Center Holdings Inc, Senior Secured First Lien Initial Term Loan,678,409$679,681.100.16%
173.Confie Seguros Holding II Co, Senior Secured First Lien Term B Loan,674,157$675,842.690.16%
174.NVA Holdings Inc, Senior Secured Second Lien Term Loan,652,088$654,532.870.16%
175.National Financial Partners Corp, Senior Unsecured Bond,650,000$644,312.500.15%
176.Monitronics International Inc, Senior Secured First Lien Term B Facility Loan,634,643$636,229.690.15%
177.American Tire Distributors Inc, Senior Secured First Lien Initial Term Loan,600,985$607,373.630.15%
178.Exopack Holdings SA, Senior Secured First Lien USD Term Loan,596,555$598,666.350.14%
179.Sheridan Production Partners I-A LP, Senior Secured First Lien Tranche B-2 Term Loan,673,777$595,167.670.14%
180.Avaya Inc, Senior Secured Bond,700,000$581,000.000.14%
181.Infiltrator Water Technologies LLC, Senior Secured First Lien Term Loan,571,429$575,474.280.14%
182.Transaction Network Services, Senior Secured Second Lien Initial Term Loan,500,000$497,085.000.12%
183.NVA Holdings Inc, Senior Secured First Lien Term Loan,455,991$457,322.020.11%
184.New HB Acquisition LLC, Senior Secured First Lien Term B Loan,439,160$446,845.150.11%
185.Pelican Products Inc, Senior Secured First Lien New Term Loan,446,502$446,503.810.11%
186.Standard Aero Limited, Senior Secured First Lien Replacement Tranche B-2 Term Loan,434,131$435,324.990.10%
187.Solenis International LP, Senior Secured First Lien Initial Dollar Term Loan,435,307$434,220.930.10%
188.Ascend Learning LLC, Senior Secured First Lien Term Loan,430,583$432,400.150.10%
189.New MMI Holdings Inc, Common Equity28,009$420,135.000.10%
190.Aurora Diagnostics Holdings LLC, Senior Unsecured Bond,500,000$420,000.000.10%
191.W/S Packaging Group Inc, Senior Secured First Lien Term Loan,404,095$387,930.830.09%
192.Sheridan Production Partners I-M LP, Senior Secured First Lien Tranche B-2 Term Loan,411,547$363,531.890.09%
193.Charter Nex US Holdings Inc, Senior Secured First Lien Initial Term Loan,350,000$352,402.750.08%
194.Devix Topco - Prescrix Inc, Senior Secured First Lien Term B Loan,264,000$264,659.990.06%
195.CT Technologies Intermediate Holdings Inc, Senior Secured First Lien Term Loan,252,177$253,437.850.06%
196.Unifrax I LLC, Senior Secured First Lien New Term Dollar Loan,240,516$240,396.090.06%
197.Hyland Software Inc, Senior Secured First Lien Term Loan,200,428$200,929.250.05%
198.PowerTeam Services LLC, Senior Secured First Lien Delayed Draw Term Loan,146,464$146,646.780.04%
199.Landmark Aviation FBO Canada Inc, Senior Secured First Lien 2013 Specified Refinancing Canadian Term Loan,93,055$92,589.930.02%
200.Acrisure LLC, Senior Secured First Lien Delayed Draw Term Loan,80,311$80,210.280.02%
Net Cash Equivalent & Other Assets Minus Liabilities$7,131,985.791.69%
 Total $416,995,964.86100.00%
Total Number of Holdings: 200

An investment in the Fund is not appropriate for all investors and is not intended to be a complete investment program. The Fund is designed as a long-term investment and not as a trading vehicle.

Investing in the Fund involves risks, including the risk that you may receive little or no return on your investment or that you may lose part or even all of your investment. Therefore, before investing you should carefully consider the risks that you assume when you invest in the Fund's common shares.

The Fund's investment objectives and policies are not designed to seek to return the initial investment to investors that purchase shares.

Secured loan funds are a distinct segment of the fixed income market and are not an alternative to money markets or certificates of deposit.

Investors should consider the Fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other information about the fund. Please read the prospectus carefully before investing.

For a more complete information about the Fund, please read the prospectus , call your financial professional or call 1.877.299.1588.

Shares of closed-end investment companies frequently trade at a discount from their net asset value. The risk of loss due to this discount may be greater for investors expecting to sell their shares in a relatively short period. The Fund is newly organized with no operating history.

NOT FDIC INSURED | May Lose Value | No Bank Guarantee