Aristotle Strategic Income Fund
Actively managed U.S. bond fund
As of its 2026 Q2 report, Aristotle Strategic Income Fund held 472 positions with $4.08B in net assets. Its ten largest holdings made up 17.0% of the fund. The PLCNX share class costs 1.69% a year. Over the 12 months to May 2026, PLCNX returned 5.3%, with dividends reinvested. In 2026 Q2 it added 68 new positions and exited 73.
Aristotle Strategic Income Fund (the Fund) seeks a high level of current income.
The fund invests in income-producing debt instruments, with allocations between investment-grade and non-investment-grade debt determined by a sub-adviser based on market conditions; non-investment-grade debt may comprise up to 70% of assets, while investment-grade debt may reach 65%. The sub-adviser selects individual issuers through fundamental research assessing competitive position, management quality, and debt repayment capacity, and may sell positions when price targets are met or relative value diminishes. Because portfolio allocations shift with the sub-adviser's market views, the fund's exposure to non-investment-grade debt—which carries higher credit risk—will vary.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
Clear Street LLC | 4.90% | $200.00M | — |
Goldman Sachs Trust | 4.18% | $170.68M | — |
US BANK MMDA - USBGFS 9 | 1.94% | $79.23M | — |
PROOFPOINT INC 6.70% floating · due 2028-08-31 | 1.14% | $46.54M | — |
GOLDMAN SACHS GROUP INC 5.39% floating · due 2041-02-02 | 0.84% | $34.11M | — |
UKG INC 5.91% floating · due 2031-02-10 | 0.82% | $33.59M | — |
US TREASURY N/B 4.75% · due 2037-02-15 | 0.82% | $33.42M | — |
TRANSDIGM INC 6.38% · due 2033-05-31 | 0.82% | $33.36M | — |
CITIGROUP INC 5.41% floating · due 2039-09-19 | 0.77% | $31.50M | — |
BEIGNET INVESTOR LLC 6.58% · due 2049-05-30 | 0.77% | $31.35M | — |
The 200 largest of 472 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%.
| Bonds | 70.97% |
| Loans | 16.00% |
| Cash & short-term | 11.03% |
| Securitized | 10.46% |
| Stocks | 1.35% |
These positions come to 109.80% of the fund's net assets. This counts only what the fund reported holding — the holdings disclosure covers assets, not liabilities such as borrowings — so it is not expected to reconcile to 100%.
By sector
- Other
- 42.3%
- Financials
- 12.6%
- Securitized
- 9.5%
- International
- 8.7%
- 10 other sectors
- 26.8%
- Other
- 42.3%
- Financials
- 12.6%
- Securitized
- 9.5%
- International
- 8.7%
- Cash
- 5.6%
- Utilities
- 5.5%
- Information Technology
- 4.7%
- Government
- 4.0%
- Industrials
- 2.7%
- Energy
- 2.0%
- Communication Services
- 0.9%
- Real Estate
- 0.8%
- Health Care
- 0.6%
- Materials
- 0.2%
How it has done
PLCNX share class · total returns with dividends reinvested
Volatility over the last 12 months: 2.48%. 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 5 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 1.69% | +5.35% | +19.65% | — | -3.19% | |
| 0.59% | +6.53% | +23.57% | — | -3.05% | |
| 0.94% | +6.12% | +22.26% | — | -3.08% | |
| 0.69% | +6.48% | +23.24% | — | -3.03% | |
| 0.60% | — | — | — | — |
Fees & fund details
Aristotle Strategic 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
- Mixed credit
- Rate sensitivity
- Intermediate duration
- Expense ratio, by class
- 0.59% – 1.69%· PLCNX 1.69%
- Portfolio turnover
- 45.00% a year · as of 2025 Q4
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.
68 new· the largest 8
73 exited· the largest 6
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.
| Fixed rate | 57.1% |
| Floating rate | 42.9% |
Share of the fund's debt value in each maturity band, shortest first.
| 1-3y | 5.0% |
| 3-5y | 18.9% |
| 5-10y | 49.8% |
| 10y+ | 26.3% |
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
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
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 | 54% |
| Interest rates | 46% |
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.
| Investment grade | +3.56 yr |
| High yield | +1.50 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 | 0.18 yr | 4% |
| 1 yr | 0.57 yr | 13% |
| 5 yr | 1.19 yr | 27% |
| 10 yr | 1.79 yr | 41% |
| 30 yr | 0.61 yr | 14% |
| 3 mo | 0.82 yr | 16% |
| 1 yr | 0.66 yr | 13% |
| 5 yr | 1.24 yr | 25% |
| 10 yr | 1.76 yr | 35% |
| 30 yr | 0.58 yr | 11% |
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 | +0.18 | +0.15 | +0.67 | $62.1k | $272.6k |
| 1 yr | +0.57 | +0.18 | +0.48 | $73.6k | $194.4k |
| 5 yr | +1.19 | +0.96 | +0.28 | $392.0k | $113.9k |
| 10 yr | +1.79 | +1.68 | +0.08 | $686.8k | $31.2k |
| 30 yr | +0.61 | +0.58 | +0.00 | $236.8k | $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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