Aristotle Floating Rate Income Fund
Actively managed U.S. bond fund
As of its 2026 Q2 report, Aristotle Floating Rate Income Fund held 139 positions with $3.60B in net assets. Its ten largest holdings made up 34.7% of the fund. The PLFLX share class costs 1.05% a year. Over the 12 months to May 2026, PLFLX returned 5.7%, with dividends reinvested. In 2026 Q2 it added 47 new positions and exited 43.
Aristotle Floating Rate Income Fund (the Fund) seeks a high level of current income.
The fund invests principally in floating rate loans and floating rate debt securities, at least 80% of assets, selecting individual securities through a sub-adviser's fundamental research that combines bottom-up issuer analysis with top-down market assessment; the sub-adviser targets non-investment grade instruments or unrated debt of comparable quality, and may hold up to 20% in other debt types including high yield bonds. Because security selection depends on the sub-adviser's credit analysis and relative value judgments for each potential investment, portfolio composition will reflect those determinations.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
US BANK MMDA - USBGFS 9 | 7.90% | $284.42M | — |
GAINWELL ACQUISITION COR 7.80% floating · due 2027-10-01 | 4.30% | $154.74M | — |
PROOFPOINT INC 6.70% floating · due 2028-08-31 | 3.45% | $124.35M | — |
CRC INSURANCE GROUP LLC 8.45% floating · due 2032-05-06 | 3.33% | $119.80M | — |
Goldman Sachs Trust | 3.13% | $112.58M | — |
TK ELEVATOR US NEWCO INC 6.38% floating · due 2030-04-30 | 2.95% | $106.34M | — |
COVETRUS INC 8.70% floating · due 2029-10-15 | 2.55% | $91.95M | — |
DISCOVERY HOLDINGS INC 6.14% floating · due 2033-05-27 | 2.42% | $87.23M | — |
ALLIED UNIVERSAL HOLDCO 6.90% floating · due 2032-08-20 | 2.39% | $86.02M | — |
ELLUCIAN HOLDINGS INC 8.40% floating · due 2032-11-22 | 2.26% | $81.41M | — |
All 139 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Loans | 91.69% |
| Cash & short-term | 12.12% |
| Bonds | 5.79% |
| Securitized | 0.05% |
| Stocks | 0.01% |
Look-through blends 5 underlying funds; 0.0% of NAV was not looked through and stays direct-classified.
By sector
- Other
- 66.4%
- Cash
- 10.1%
- Information Technology
- 7.2%
- International
- 6.8%
- 6 other sectors
- 9.5%
- Other
- 66.4%
- Cash
- 10.1%
- Information Technology
- 7.2%
- International
- 6.8%
- Industrials
- 3.1%
- Consumer Discretionary
- 2.3%
- Communication Services
- 2.0%
- Health Care
- 1.3%
- Utilities
- 0.7%
- Consumer Staples
- 0.1%
How it has done
PLFLX share class · total returns with dividends reinvested
Volatility over the last 12 months: 2.15%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 4 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 1.05% | +5.74% | +26.16% | — | -1.30% | |
| 0.80% | +6.02% | +27.06% | — | -1.25% | |
| 0.72% | +6.09% | +27.34% | — | -1.24% | |
| 1.80% | +4.87% | +23.24% | — | -1.42% |
These classes hold the same portfolio, so the 4.10pp spread over 3 years is the cost difference between them — roughly 1.37pp a year — not a difference in what they own.
Fees & fund details
Aristotle Floating Rate Income Fund is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- High yield
- Rate sensitivity
- Short duration
- Expense ratio, by class
- 0.72% – 1.80%· PLFLX 1.05%
- Portfolio turnover
- 122.00% a year · as of 2025 Q3
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
47 new· the largest 8
43 exited· the largest 7
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Floating rate | 96.2% |
| Fixed rate | 3.8% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 0.3% |
| 1-3y | 26.5% |
| 3-5y | 19.4% |
| 5-10y | 53.8% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Interest-rate moves barely touch this fund — but its credit exposure is real: a 100bp widening in credit spreads costs roughly 3.5%. Duration alone would have told you none of that.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 98% |
| Interest rates | 2% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| High yield | +3.23 yr |
| Investment grade | +0.28 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.01 yr | 9% |
| 1 yr | 0.04 yr | 53% |
| 5 yr | 0.03 yr | 34% |
| 10 yr | 0.00 yr | 4% |
| 3 mo | 3.02 yr | 86% |
| 1 yr | 0.11 yr | 3% |
| 5 yr | 0.31 yr | 9% |
| 10 yr | 0.08 yr | 2% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.01 | +0.28 | +2.74 | $100.4k | $986.4k |
| 1 yr | +0.04 | +0.00 | +0.11 | $0 | $38.8k |
| 5 yr | +0.03 | +0.00 | +0.31 | $0 | $110.1k |
| 10 yr | +0.00 | +0.00 | +0.08 | $0 | $28.0k |
| 30 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
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