| Mitsui OSK Lines Ltd | 6.01 | 81,282 |
| Kawasaki Kisen Kaisha Ltd | 5.11 | 169,803 |
| HMM Co Ltd | 5.11 | 189,766 |
| Matson Inc | 4.99 | 17,375 |
| AP Moller - Maersk A/S | 4.88 | 1,537 |
| SITC International Holdings Co Ltd | 4.76 | 963,530 |
| Wallenius Wilhelmsen ASA | 4.61 | 214,284 |
| ORIENT OVERSEAS INTL | 4.22 | 145,530 |
| COSCO SHIPPING Holdings Co Ltd | 3.98 | 1,392,504 |
| Scorpio Tankers Inc | 3.93 | 26,508 |
| Frontline PLC | 3.89 | 79,415 |
| Star Bulk Carriers Corp | 3.74 | 83,492 |
| International Seaways Inc | 3.63 | 34,076 |
| Hapag-Lloyd AG | 2.67 | 7,863 |
| Golden Ocean Group Ltd | 2.36 | 91,940 |
| ZIM Integrated Shipping Services Ltd | 2.11 | 53,971 |
| BW LPG Ltd | 2.03 | 63,221 |
| Stolt-Nielsen Ltd | 1.97 | 24,056 |
| Hoegh Autoliners ASA | 1.95 | 86,148 |
| DHT Holdings Inc | 1.61 | 72,257 |
| Costamare Inc | 1.56 | 53,283 |
| Teekay Tankers Ltd | 1.55 | 13,281 |
| SFL Corp Ltd | 1.52 | 62,217 |
| Danaos Corp | 1.50 | 8,751 |
| Dorian LPG Ltd | 1.47 | 18,356 |
| Okeanis Eco Tankers Corp | 1.41 | 22,149 |
| Pan Ocean Co Ltd | 1.36 | 237,223 |
| FLEX LNG Ltd | 1.35 | 24,374 |
| Pacific Basin Shipping Ltd | 1.32 | 2,300,977 |
| COSCO SHIPPING Energy Transportation Co Ltd | 1.29 | 566,903 |
| Navigator Holdings Ltd | 1.13 | 33,060 |
| MPC Container Ships ASA | 0.87 | 200,277 |
| Cash & Other | 0.86 | 410,237 |
| Avance Gas Holding Ltd | 0.86 | 34,955 |
| Global Ship Lease Inc | 0.83 | 15,852 |
| d'Amico International Shipping SA | 0.81 | 56,097 |
| NORWEGIAN KRONE | 0.78 | 3,928,345 |
| NS United Kaiun Kaisha Ltd | 0.75 | 10,814 |
| Ardmore Shipping Corp | 0.73 | 18,860 |
| Nordic American Tankers Ltd | 0.72 | 94,357 |
| Genco Shipping & Trading Ltd | 0.71 | 19,323 |
| Safe Bulkers Inc | 0.53 | 50,443 |
| Heung-A Shipping Co Ltd | 0.35 | 105,884 |
| Himalaya Shipping Ltd | 0.32 | 19,883 |
| Samudera Shipping Line Ltd | 0.31 | 243,489 |
| PANGAEA LOGISTICS SOLUTIONS LT | 0.30 | 21,408 |
| Euroseas Ltd | 0.29 | 3,206 |
| 2020 Bulkers Ltd | 0.28 | 10,515 |
| Diana Shipping Inc | 0.28 | 54,990 |
| Seanergy Maritime Holdings Corp | 0.22 | 9,498 |
| First American Government Obligations Fund 12/01/2031 | 0.15 | 72,398 |
