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      EATON VANCE MUTUAL FUNDS TRUST
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      Eaton Vance Floating-Rate & High Income Fund
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      549300KI2JSE7XMXHR60
      2021-10-31
      2021-07-31
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        HIGH INCOME OPPORTUNITIES PORTFOLIO
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      2021-08-23
      EATON VANCE MUTUAL FUNDS TRUST
      James Kirchner
      James Kirchner
      Treasurer
    
  
  XXXX




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Eaton Vance

Floating-Rate & High Income Fund

July 31, 2021 (Unaudited)

Eaton Vance Floating-Rate & High Income Fund (the Fund), a diversified series of Eaton Vance Mutual Funds Trust, pursues its investment objective by investing in two registered investment companies (each a Portfolio) managed by Eaton Vance Management or its affiliates. The Fund owns a pro rata interest in the net assets of each Portfolio in which it invests. At July 31, 2021, the Fund owned 13.3% of Eaton Vance Floating Rate Portfolio’s outstanding interests and 23.7% of High Income Opportunities Portfolio’s outstanding interests. The Fund’s Schedule of Investments at July 31, 2021 is set forth below.

 

                                                 
Investments in Affiliated Portfolios    Value      % of Net Assets  

Eaton Vance Floating Rate Portfolio
(identified cost, $1,135,842,210)

   $ 1,096,568,977        82.8

High Income Opportunities Portfolio
(identified cost, $232,021,369)

     225,441,212        17.0  
  

 

 

    

 

 

 

Total Investments in Affiliated Portfolios
(identified cost $1,367,863,579)

   $ 1,322,010,189        99.8
  

 

 

    

 

 

 

Other Assets, Less Liabilities

   $ 2,017,376        0.2
  

 

 

    

 

 

 

Net Assets

   $ 1,324,027,565        100.0
  

 

 

    

 

 

 

Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.

 

 

Level 1 — quoted prices in active markets for identical investments

 

 

Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

 

 

Level 3 — significant unobservable inputs (including a fund’s own assumptions in determining the fair value of investments)

In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. At July 31, 2021 and October 31, 2020, the Fund’s investments in the Portfolios were valued based on Level 1 inputs.

For information on the Fund’s policy regarding the valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements included in its semiannual or annual report to shareholders.

The Eaton Vance Floating Rate Portfolio’s Portfolio of Investments is included herein. A copy of Part F to Form N-PORT (containing a Portfolio of Investments) for High Income Opportunities Portfolio at July 31, 2021 is available by calling Eaton Vance at 1-800-262-1122 or in the EDGAR database on the Securities and Exchange Commission’s website at www.sec.gov.

 

 

 

 


Eaton Vance

Floating Rate Portfolio

July 31, 2021

PORTFOLIO OF INVESTMENTS (Unaudited)

Asset-Backed Securities — 3.2%

 

                                                 
Security    Principal
Amount
(000’s omitted)
     Value  
Alinea CLO, Ltd.:

 

Series 2018-1A, Class D, 3.234%, (3 mo. USD LIBOR + 3.10%), 7/20/31(1)(2)

   $ 2,500      $ 2,502,250  

Series 2018-1A, Class E, 6.134%, (3 mo. USD LIBOR + 6.00%), 7/20/31(1)(2)

     3,000        2,965,359  

AMMC CLO 15, Ltd., Series 2014-15A, Class ERR, 7.036%, (3 mo. USD LIBOR + 6.91%), 1/15/32(1)(2)

     5,000        4,929,380  

AMMC CLO XII, Ltd., Series 2013-12A, Class ER, 6.342%, (3 mo. USD LIBOR + 6.18%), 11/10/30(1)(2)

     3,525        3,305,107  

Apidos CLO XX, Series 2015-20A, Class DR, 5.826%, (3 mo. USD LIBOR + 5.70%), 7/16/31(1)(2)

     2,375        2,245,570  
Ares XLIX CLO, Ltd.:

 

Series 2018-49A, Class D, 3.138%, (3 mo. USD LIBOR + 3.00%), 7/22/30(1)(2)

     2,500        2,501,757  

Series 2018-49A, Class E, 5.838%, (3 mo. USD LIBOR + 5.70%), 7/22/30(1)(2)

     3,500        3,443,671  

Ares XXXIIR CLO, Ltd., Series 2014-32RA, Class C, 3.056%, (3 mo. USD LIBOR + 2.90%), 5/15/30(1)(2)

     5,000        4,952,405  

Ares XXXVR CLO, Ltd., Series 2015-35RA, Class E, 5.826%, (3 mo. USD LIBOR + 5.70%), 7/15/30(1)(2)

     4,000        3,905,516  
Babson CLO, Ltd.:

 

Series 2015-1A, Class DR, 2.734%, (3 mo. USD LIBOR + 2.60%), 1/20/31(1)(2)

     2,500        2,441,028  

Series 2018-1A, Class C, 2.726%, (3 mo. USD LIBOR + 2.60%), 4/15/31(1)(2)

     3,500        3,406,032  
Bain Capital Credit CLO, Ltd.:

 

Series 2018-1A, Class D, 2.838%, (3 mo. USD LIBOR + 2.70%), 4/23/31(1)(2)

     5,000        4,831,070  

Series 2018-1A, Class E, 5.488%, (3 mo. USD LIBOR + 5.35%), 4/23/31(1)(2)

     3,000        2,814,723  
Benefit Street Partners CLO V-B, Ltd.:

 

Series 2018-5BA, Class C, 3.064%, (3 mo. USD LIBOR + 2.93%), 4/20/31(1)(2)

     5,000        4,849,150  

Series 2018-5BA, Class D, 6.084%, (3 mo. USD LIBOR + 5.95%), 4/20/31(1)(2)

     3,500        3,289,674  

Benefit Street Partners CLO VIII, Ltd., Series 2015-8A, Class DR, 5.734%, (3 mo. USD LIBOR + 5.60%), 1/20/31(1)(2)

     5,401        4,994,580  

Benefit Street Partners CLO XIV, Ltd., Series 2018-14A, Class D, 2.734%, (3 mo. USD LIBOR + 2.60%), 4/20/31(1)(2)

     1,500        1,453,488  

Benefit Street Partners CLO XVI, Ltd., Series 2018-16A, Class E, 6.834%, (3 mo. USD LIBOR + 6.70%), 1/17/32(1)(2)

     2,250        2,243,122  
Benefit Street Partners CLO XVII, Ltd.:

 

Series 2019-17A, Class E, 6.726%, (3 mo. USD LIBOR + 6.60%), 7/15/32(1)(2)

     1,750        1,750,875  

Series 2019-17A, Class ER, (3 mo. USD LIBOR + 6.35%), 7/15/32(1)(3)

     1,750        1,751,440  
Betony CLO 2, Ltd.:

 

Series 2018-1A, Class C, 3.029%, (3 mo. USD LIBOR + 2.90%), 4/30/31(1)(2)

     2,500        2,484,295  

Series 2018-1A, Class D, 5.779%, (3 mo. USD LIBOR + 5.65%), 4/30/31(1)(2)

     4,450        4,225,689  
BlueMountain CLO, Ltd.:

 

Series 2016-3A, Class DR, 3.256%, (3 mo. USD LIBOR + 3.10%), 11/15/30(1)(2)

     1,500        1,461,284  

Series 2016-3A, Class ER, 6.106%, (3 mo. USD LIBOR + 5.95%), 11/15/30(1)(2)

     1,500        1,409,618  

Series 2018-1A, Class D, 3.179%, (3 mo. USD LIBOR + 3.05%), 7/30/30(1)(2)

     2,500        2,403,748  

Series 2018-1A, Class E, 6.079%, (3 mo. USD LIBOR + 5.95%), 7/30/30(1)(2)

     2,000        1,865,106  

 

1

 

 


                                                 
Security    Principal
Amount
(000’s omitted)
     Value  

BlueMountain CLO XXIV, Ltd., Series 2019-24A, Class ER, 6.974%, (3 mo. USD LIBOR + 6.84%), 4/20/34(1)(2)

   $ 1,000      $ 992,549  
Canyon Capital CLO, Ltd.:

 

Series 2012-1RA, Class E, 5.826%, (3 mo. USD LIBOR + 5.70%), 7/15/30(1)(2)

     4,875        4,608,103  

Series 2016-1A, Class ER, 5.876%, (3 mo. USD LIBOR + 5.75%), 7/15/31(1)(2)

     4,000        3,844,728  

Series 2016-2A, Class ER, 6.126%, (3 mo. USD LIBOR + 6.00%), 10/15/31(1)(2)

     4,500        4,274,851  

Series 2017-1A, Class E, 6.376%, (3 mo. USD LIBOR + 6.25%), 7/15/30(1)(2)

     3,250        3,192,007  

Series 2018-1A, Class D, 3.026%, (3 mo. USD LIBOR + 2.90%), 7/15/31(1)(2)

     3,000        2,979,537  

Series 2018-1A, Class E, 5.876%, (3 mo. USD LIBOR + 5.75%), 7/15/31(1)(2)

     2,750        2,649,971  
Carlyle C17 CLO, Ltd.:

 

Series C17A, Class CR, 2.929%, (3 mo. USD LIBOR + 2.80%), 4/30/31(1)(2)

     5,000        4,924,360  

Series C17A, Class DR, 6.129%, (3 mo. USD LIBOR + 6.00%), 4/30/31(1)(2)

     3,500        3,342,080  
Carlyle Global Market Strategies CLO, Ltd.:

 

Series 2012-3A, Class CR2, 3.633%, (3 mo. USD LIBOR + 3.50%), 1/14/32(1)(2)

     2,500        2,433,480  

Series 2012-3A, Class DR2, 6.633%, (3 mo. USD LIBOR + 6.50%), 1/14/32(1)(2)

     1,500        1,418,678  

Series 2014-3RA, Class C, 3.079%, (3 mo. USD LIBOR + 2.95%), 7/27/31(1)(2)

     1,000        974,354  

Series 2014-3RA, Class D, 5.529%, (3 mo. USD LIBOR + 5.40%), 7/27/31(1)(2)

     2,150        2,028,931  

Series 2014-4RA, Class C, 3.026%, (3 mo. USD LIBOR + 2.90%), 7/15/30(1)(2)

     2,000        1,915,694  

Series 2014-4RA, Class D, 5.776%, (3 mo. USD LIBOR + 5.65%), 7/15/30(1)(2)

     3,500        3,165,001  

CarVal CLO IV, Ltd., Series 2021-1A, Class E, (3 mo. USD LIBOR + 6.60%), 7/20/34(1)(4)

     1,000        992,225  
Dryden CLO, Ltd.:

 

Series 2018-55A, Class D, 2.976%, (3 mo. USD LIBOR + 2.85%), 4/15/31(1)(2)

     1,500        1,487,646  

Series 2018-55A, Class E, 5.526%, (3 mo. USD LIBOR + 5.40%), 4/15/31(1)(2)

     2,000        1,947,824  
Dryden Senior Loan Fund:

 

Series 2015-41A, Class DR, 2.726%, (3 mo. USD LIBOR + 2.60%), 4/15/31(1)(2)

     5,000        4,875,435  

Series 2015-41A, Class ER, 5.426%, (3 mo. USD LIBOR + 5.30%), 4/15/31(1)(2)

     1,268        1,209,547  

Series 2016-42A, Class DR, 3.056%, (3 mo. USD LIBOR + 2.93%), 7/15/30(1)(2)

     2,500        2,482,942  

Series 2016-42A, Class ER, 5.676%, (3 mo. USD LIBOR + 5.55%), 7/15/30(1)(2)

     3,500        3,389,277  

Galaxy XV CLO, Ltd., Series 2013-15A, Class ER, 6.771%, (3 mo. USD LIBOR + 6.65%), 10/15/30(1)(2)

     2,500        2,475,438  
Galaxy XXV CLO, Ltd.:

 

Series 2018-25A, Class D, 3.225%, (3 mo. USD LIBOR + 3.10%), 10/25/31(1)(2)

     2,500        2,501,422  

Series 2018-25A, Class E, 6.075%, (3 mo. USD LIBOR + 5.95%), 10/25/31(1)(2)

     3,500        3,439,121  

Goldentree Loan Management US CLO 5, Ltd., Series 2019-5A, Class D, 3.984%, (3 mo. USD LIBOR + 3.85%), 10/20/32(1)(2)

     1,500        1,503,996  

Golub Capital Partners CLO 22B, Ltd., Series 2015-22A, Class ER, 6.134%, (3 mo. USD LIBOR + 6.00%), 1/20/31(1)(2)

     2,500        2,376,205  
Golub Capital Partners CLO 37B, Ltd.:

 

Series 2018-37A, Class D, 3.434%, (3 mo. USD LIBOR + 3.30%), 7/20/30(1)(2)

     4,000        3,986,144  

Series 2018-37A, Class E, 5.884%, (3 mo. USD LIBOR + 5.75%), 7/20/30(1)(2)

     4,750        4,346,497  

Golub Capital Partners CLO 53B, Ltd., Series 2021-53A, Class E, 6.83%, (3 mo. USD LIBOR + 6.70%), 7/20/34(1)(2)

     1,250        1,249,644  

Harriman Park CLO, Ltd., Series 2020-1A, Class ER, 6.534%, (3 mo. USD LIBOR + 6.40%), 4/20/34(1)(2)

     1,000        999,965  
ICG US CLO, Ltd.:

 

Series 2018-2A, Class D, 3.238%, (3 mo. USD LIBOR + 3.10%), 7/22/31(1)(2)

     2,000        1,951,586  

Series 2018-2A, Class E, 5.888%, (3 mo. USD LIBOR + 5.75%), 7/22/31(1)(2)

     3,000        2,771,646  

Kayne CLO 5, Ltd., Series 2019-5A, Class E, 6.825%, (3 mo. USD LIBOR + 6.70%), 7/24/32(1)(2)

     1,750        1,752,270  

Madison Park Funding XXV, Ltd., Series 2017-25A, Class D, 6.225%, (3 mo. USD LIBOR + 6.10%), 4/25/29(1)(2)

     1,500        1,499,942  

 

2

 

 


                                                 
Security    Principal
Amount
(000’s omitted)
     Value  
Neuberger Berman CLO XXII, Ltd.:

 

Series 2016-22A, Class DR, 3.234%, (3 mo. USD LIBOR + 3.10%), 10/17/30(1)(2)

   $ 2,500      $ 2,501,292  

Series 2016-22A, Class ER, 6.194%, (3 mo. USD LIBOR + 6.06%), 10/17/30(1)(2)

     3,000        2,982,552  

Neuberger Berman Loan Advisers CLO 28, Ltd., Series 2018-28A, Class E, 5.734%, (3 mo. USD LIBOR + 5.60%), 4/20/30(1)(2)

     1,950        1,926,758  
Neuberger Berman Loan Advisers CLO 30, Ltd.:

 

Series 2018-30A, Class DR, 2.984%, (3 mo. USD LIBOR + 2.85%), 1/20/31(1)(2)

     2,500        2,499,982  

Series 2018-30A, Class ER, 6.334%, (3 mo. USD LIBOR + 6.20%), 1/20/31(1)(2)

     1,000        999,967  

Oaktree CLO, Ltd., Series 2019-3A, Class D, 4.094%, (3 mo. USD LIBOR + 3.96%), 7/20/31(1)(2)

     2,625        2,627,234  
Palmer Square CLO, Ltd.:

 

Series 2013-2A, Class DRR, 5.984%, (3 mo. USD LIBOR + 5.85%), 10/17/31(1)(2)

     3,000        2,955,327  

Series 2015-1A, Class DR4, 6.625%, (3 mo. USD LIBOR + 6.50%), 5/21/34(1)(2)

     2,000        1,997,806  

Series 2018-1A, Class C, 2.634%, (3 mo. USD LIBOR + 2.50%), 4/18/31(1)(2)

     3,000        2,977,167  

Series 2018-1A, Class D, 5.284%, (3 mo. USD LIBOR + 5.15%), 4/18/31(1)(2)

     2,000        1,939,266  

Series 2018-2A, Class D, 5.726%, (3 mo. USD LIBOR + 5.60%), 7/16/31(1)(2)

     2,000        1,966,846  

Series 2021-2A, Class E, 6.456%, (3 mo. USD LIBOR + 6.35%), 7/15/34(1)(2)

     1,000        999,841  
Regatta XIII Funding, Ltd.:

 

Series 2018-2A, Class C, 3.226%, (3 mo. USD LIBOR + 3.10%), 7/15/31(1)(2)

     2,500        2,503,440  

Series 2018-2A, Class D, 6.076%, (3 mo. USD LIBOR + 5.95%), 7/15/31(1)(2)

     5,000        4,794,535  
Regatta XIV Funding, Ltd.:

 

Series 2018-3A, Class D, 3.325%, (3 mo. USD LIBOR + 3.20%), 10/25/31(1)(2)

     2,500        2,502,765  

Series 2018-3A, Class E, 6.075%, (3 mo. USD LIBOR + 5.95%), 10/25/31(1)(2)

     4,500        4,355,590  

Regatta XV Funding, Ltd., Series 2018-4A, Class D, 6.625%, (3 mo. USD LIBOR + 6.50%), 10/25/31(1)(2)

     3,875        3,787,557  

Southwick Park CLO, LLC, Series 2019-4A, Class E, 6.834%, (3 mo. USD LIBOR + 6.70%), 7/20/32(1)(2)

     1,750        1,752,517  
Upland CLO, Ltd.:

 

Series 2016-1A, Class CR, 3.034%, (3 mo. USD LIBOR + 2.90%), 4/20/31(1)(2)

     4,500        4,459,473  

Series 2016-1A, Class DR, 6.034%, (3 mo. USD LIBOR + 5.90%), 4/20/31(1)(2)

     4,625        4,450,892  
Vibrant CLO IX, Ltd.:

 

Series 2018-9A, Class C, 3.334%, (3 mo. USD LIBOR + 3.20%), 7/20/31(1)(2)

     2,500        2,394,363  

Series 2018-9A, Class D, 6.384%, (3 mo. USD LIBOR + 6.25%), 7/20/31(1)(2)

     3,500        3,200,533  
Vibrant CLO X, Ltd.:

 

Series 2018-10A, Class C, 3.384%, (3 mo. USD LIBOR + 3.25%), 10/20/31(1)(2)

     5,000        4,837,270  

Series 2018-10A, Class D, 6.324%, (3 mo. USD LIBOR + 6.19%), 10/20/31(1)(2)

     5,000        4,709,805  
Voya CLO, Ltd.:

 

Series 2015-3A, Class CR, 3.284%, (3 mo. USD LIBOR + 3.15%), 10/20/31(1)(2)

     2,500        2,422,488  

Series 2015-3A, Class DR, 6.334%, (3 mo. USD LIBOR + 6.20%), 10/20/31(1)(2)

     5,500        4,941,656  

Series 2016-3A, Class CR, 3.384%, (3 mo. USD LIBOR + 3.25%), 10/18/31(1)(2)

     2,000        1,951,380  

Series 2016-3A, Class DR, 6.214%, (3 mo. USD LIBOR + 6.08%), 10/18/31(1)(2)

     3,375        3,120,991  

Series 2018-1A, Class C, 2.734%, (3 mo. USD LIBOR + 2.60%), 4/19/31(1)(2)

     5,000        4,947,880  

Series 2018-2A, Class E, 5.376%, (3 mo. USD LIBOR + 5.25%), 7/15/31(1)(2)

     2,500        2,389,353  
Webster Park CLO, Ltd.:

 

Series 2015-1A, Class CR, 3.034%, (3 mo. USD LIBOR + 2.90%), 7/20/30(1)(2)

     2,000        2,001,124  

Series 2015-1A, Class DR, 5.634%, (3 mo. USD LIBOR + 5.50%), 7/20/30(1)(2)

     2,500        2,491,240  

Wellfleet CLO, Ltd., Series 2021-1A, Class D, 3.674%, (3 mo. USD LIBOR + 3.50%), 4/20/34(1)(2)

     1,200        1,203,714  
     

 

 

 

Total Asset-Backed Securities
(identified cost $271,654,656)

      $ 264,001,637  
     

 

 

 

 

3

 

 


                                                 

Common Stocks — 1.2%

     
Security    Shares      Value  

Aerospace and Defense — 0.3%

     

IAP Global Services, LLC(5)(6)(7)(8)

     950      $ 10,843,994  

IAP Global Services, LLC(5)(6)(7)(8)

     1,627        12,381,177  
     

 

 

 
   $ 23,225,171  
     

 

 

 

Automotive — 0.0%(9)

     

Dayco Products, LLC(7)(8)

     88,506      $ 663,795  
     

 

 

 
   $ 663,795  
     

 

 

 

Business Equipment and Services — 0.1%

     

Crossmark Holdings, Inc.(7)(8)

     88,008      $ 5,280,480  
     

 

 

 
   $ 5,280,480  
     

 

 

 

Chemicals and Plastics — 0.1%

     

Hexion Holdings Corp., Class B(7)(8)

     338,679      $ 6,621,174  
     

 

 

 
   $ 6,621,174  
     

 

 

 

Containers and Glass Products — 0.0%(9)

     

LG Newco Holdco, Inc., Class A(7)(8)

     250,979      $ 930,705  
     

 

 

 
   $ 930,705  
     

 

 

 

Electronics/Electrical — 0.1%

     

Skillsoft Corporation.(7)(8)

     893,525      $ 7,685,209  
     

 

 

 
   $ 7,685,209  
     

 

 

 

Health Care — 0.1%

     

Akorn Holding Company, LLC, Class A(7)(8)

     705,631      $ 10,760,873  
     

 

 

 
   $ 10,760,873  
     

 

 

 

Nonferrous Metals/Minerals — 0.0%(9)

     

ACNR Holdings, Inc., Class A(7)(8)

     36,829      $ 865,482  
     

 

 

 
   $ 865,482  
     

 

 

 

Oil and Gas — 0.1%

     

AFG Holdings, Inc.(6)(7)(8)

     498,342      $ 5,402,027  

Fieldwood Energy, Inc.(6)(7)(8)

     51,241        0  

Fieldwood Energy, Inc.(6)(7)(8)

     221,919        0  

McDermott International, Ltd.(7)(8)

     1,013,850        335,584  

RDV Resources, Inc., Class A(7)(8)

     359,500        62,913  

Sunrise Oil & Gas, Inc., Class A(7)(8)

     321,407        964,221  
     

 

 

 
   $ 6,764,745  
     

 

 

 

Publishing — 0.0%(9)

     

Tweddle Group, Inc.(6)(7)(8)

     19,500      $ 177,255  
     

 

 

 
   $ 177,255  
     

 

 

 

Radio and Television — 0.3%

     

Clear Channel Outdoor Holdings, Inc.(7)(8)

     1,204,044      $ 3,202,757  

Cumulus Media, Inc., Class A(7)(8)

     551,505        6,502,244  

Cumulus Media, Inc., Class B(7)(8)

     93,069        1,097,283  

iHeartMedia, Inc., Class A(7)(8)

     512,034        13,236,079  
     

 

 

 
   $ 24,038,363  
     

 

 

 

Retailers (Except Food and Drug) — 0.0%(9)

     

David’s Bridal, LLC(6)(7)(8)

     272,023      $ 0  

Phillips Pet Holding Corp.(6)(7)(8)

     2,590        1,033,292  
     

 

 

 
   $ 1,033,292  
     

 

 

 

 

4

 

 


                                                 
Security    Shares      Value  

Telecommunications — 0.1%

     

GEE Acquisition Holdings Corp.(6)(7)(8)

     364,650      $ 7,632,125  
     

 

 

 
   $ 7,632,125  
     

 

 

 

Utilities — 0.0%(9)

     

Longview Intermediate Holdings, LLC, Class A(6)(7)(8)

     149,459      $ 1,198,661  
     

 

 

 
   $ 1,198,661  
     

 

 

 

Total Common Stocks
(identified cost $107,638,108)

 

   $ 96,877,330  
     

 

 

 

 

                                                 

Convertible Preferred Stocks — 0.0%(9)

 

Security    Shares      Value  

Containers and Glass Products — 0.0%(9)

 

LG Newco Holdco, Inc., Series A, 13.00%(7)(8)

     38,060      $ 3,425,364  
     

 

 

 

Total Convertible Preferred Stocks
(identified cost $1,998,129)

      $ 3,425,364  
     

 

 

 

Corporate Bonds — 6.7%

 

Security    Principal
Amount*
(000’s omitted)
     Value  

Aerospace and Defense — 0.1%

 

Spirit AeroSystems, Inc., 5.50%, 1/15/25(1)

     3,000      $ 3,153,750  

Spirit Loyalty Cayman, Ltd./Spirit IP Cayman, Ltd., 8.00%, 9/20/25(1)

     1,530        1,719,895  
TransDigm, Inc.:

 

6.25%, 3/15/26(1)

     1,500        1,575,000  

8.00%, 12/15/25(1)

     1,500        1,612,537  
     

 

 

 
      $ 8,061,182  
     

 

 

 

Air Transport — 0.7%

 

Air Canada, 3.875%, 8/15/26(1)(10)

     6,850      $ 6,875,003  
American Airlines, Inc./AAdvantage Loyalty IP, Ltd.:

 

5.50%, 4/20/26(1)

     17,175        17,990,812  

5.75%, 4/20/29(1)

     12,875        13,904,099  

Delta Air Lines, Inc., 7.00%, 5/1/25(1)

     4,650        5,472,651  

Delta Air Lines, Inc./SkyMiles IP, Ltd., 4.75%, 10/20/28(1)

     6,425        7,186,777  
United Airlines, Inc.:

 

4.375%, 4/15/26(1)

     4,625        4,764,351  

4.625%, 4/15/29(1)

     4,625        4,763,750  
     

 

 

 
      $ 60,957,443  
     

 

 

 

Automotive — 0.2%

 

Clarios Global, L.P., 6.75%, 5/15/25(1)

     1,890      $ 2,009,769  

Clarios Global, L.P./Clarios US Finance Co., 6.25%, 5/15/26(1)

     3,893        4,121,714  
Tenneco, Inc.:

 

5.125%, 4/15/29(1)

     9,050        9,321,500  

7.875%, 1/15/29(1)

     450        510,143  
     

 

 

 
      $ 15,963,126  
     

 

 

 

 

5

 

 


                                                 
Security    Principal
Amount*
(000’s omitted)
     Value  

Building and Development — 0.2%

 

American Builders & Contractors Supply Co., Inc., 4.00%, 1/15/28(1)

     2,975      $ 3,053,094  

Cushman & Wakefield U.S. Borrower, LLC, 6.75%, 5/15/28(1)

     3,150        3,392,109  

Forterra Finance, LLC/FRTA Finance Corp., 6.50%, 7/15/25(1)

     900        966,573  

SRS Distribution, Inc., 4.625%, 7/1/28(1)

     4,575        4,672,219  

Winnebago Industries, Inc., 6.25%, 7/15/28(1)

     900        970,708  
     

 

 

 
      $ 13,054,703  
     

 

 

 

Business Equipment and Services — 1.0%

 

Allied Universal Holdco, LLC/Allied Universal Finance Corp., 6.625%, 7/15/26(1)

     2,075      $ 2,199,500  
Allied Universal Holdco, LLC/Allied Universal Finance Corp./Atlas Luxco 4 S.a.r.l.:

 

4.625%, 6/1/28(1)

     17,475        17,496,844  

4.625%, 6/1/28(1)

     21,975        22,084,875  

Clarivate Science Holdings Corp., 3.875%, 6/30/28(1)

     11,400        11,509,440  
Prime Security Services Borrower, LLC/Prime Finance, Inc.:

 

5.25%, 4/15/24(1)

     7,900        8,453,000  

5.75%, 4/15/26(1)

     15,225        16,709,513  
Sabre GLBL, Inc.:

 

7.375%, 9/1/25(1)

     2,125        2,273,738  

9.25%, 4/15/25(1)

     2,525        2,957,457  
     

 

 

 
      $ 83,684,367  
     

 

 

 

Cable and Satellite Television — 0.8%

 

Altice France S.A.:

 

5.125%, 1/15/29(1)

     1,300      $ 1,311,408  

5.125%, 7/15/29(1)

     57,625        58,124,032  

Virgin Media Secured Finance PLC, 4.50%, 8/15/30(1)

     6,500        6,556,160  
     

 

 

 
      $ 65,991,600  
     

 

 

 

Chemicals and Plastics — 0.1%

 

INEOS Finance PLC, 3.375%, 3/31/26(1)

   EUR 1,250      $ 1,534,710  

INEOS Quattro Finance 2 PLC, 3.375%, 1/15/26(1)

     3,050        3,070,603  

Tronox, Inc., 6.50%, 5/1/25(1)

     7,000        7,435,295  
     

 

 

 
      $ 12,040,608  
     

 

 

 

Commercial Services — 0.1%

 

WASH Multifamily Acquisition, Inc., 5.75%, 4/15/26(1)

     5,725      $ 5,996,937  
     

 

 

 
      $ 5,996,937  
     

 

 

 

Containers and Glass Products — 0.1%

 

Reynolds Group Issuer, Inc./Reynolds Group Issuer, LLC, 4.00%, 10/15/27(1)

     5,150      $ 5,150,000  
     

 

 

 
      $ 5,150,000  
     

 

 

 

Cosmetics/Toiletries — 0.0%(9)

 

Kronos Acquisition Holdings, Inc./KIK Custom Products, Inc., 5.00%, 12/31/26(1)

     1,075      $ 1,093,812  
     

 

 

 
      $ 1,093,812  
     

 

 

 

Diversified Financial Services — 0.1%

 

AG Issuer, LLC, 6.25%, 3/1/28(1)

     5,075      $ 5,334,231  
     

 

 

 
      $ 5,334,231  
     

 

 

 

Drugs — 0.5%

 

Bausch Health Companies, Inc.:

 

4.875%, 6/1/28(1)

     8,675      $ 8,962,055  

5.50%, 11/1/25(1)

     8,975        9,177,341  

 

6

 

 


                                                 
Security    Principal
Amount*
(000’s omitted)
     Value  

Endo Luxembourg Finance Co. I S.a.r.l./Endo US, Inc., 6.125%, 4/1/29(1)

     15,225      $ 15,152,605  

Jazz Securities DAC, 4.375%, 1/15/29(1)

     9,150        9,549,306  
     

 

 

 
      $ 42,841,307  
     

 

 

 

Ecological Services and Equipment — 0.1%

 

GFL Environmental, Inc., 4.25%, 6/1/25(1)

     5,300      $ 5,512,000  
     

 

 

 
      $ 5,512,000  
     

 

 

 

Electronics/Electrical — 0.4%

 

Imola Merger Corp., 4.75%, 5/15/29(1)

     18,175      $ 18,783,590  

LogMeIn, Inc., 5.50%, 9/1/27(1)

     4,300        4,472,215  

Veritas US, Inc./Veritas Bermuda, Ltd., 7.50%, 9/1/25(1)

     6,450        6,694,423  
     

 

 

 
      $ 29,950,228  
     

 

 

 

Entertainment — 0.0%(9)

 

Six Flags Theme Parks, Inc., 7.00%, 7/1/25(1)

     2,125      $ 2,275,631  
     

 

 

 
      $ 2,275,631  
     

 

 

 

Financial Intermediaries — 0.1%

 

CoreLogic, Inc., 4.50%, 5/1/28(1)

     5,525      $ 5,524,530  
     

 

 

 
      $ 5,524,530  
     

 

 

 

Food Products — 0.1%

 

Del Monte Foods, Inc., 11.875%, 5/15/25(1)

     8,200      $ 9,317,373  
     

 

 

 
      $ 9,317,373  
     

 

 

 

Food/Drug Retailers — 0.2%

 

Fresh Market, Inc. (The), 9.75%, 5/1/23(1)

     12,550      $ 12,975,131  
     

 

 

 
      $ 12,975,131  
     

 

 

 

Health Care — 0.3%

 

RP Escrow Issuer, LLC, 5.25%, 12/15/25(1)

     2,150      $ 2,206,018  

Tenet Healthcare Corp., 4.25%, 6/1/29(1)

     22,950        23,437,688  
     

 

 

 
      $ 25,643,706  
     

 

 

 

Industrial Equipment — 0.1%

 

Clark Equipment Company, 5.875%, 6/1/25(1)

     1,050      $ 1,113,000  

Madison IAQ, LLC, 4.125%, 6/30/28(1)

     10,400        10,428,288  
     

 

 

 
      $ 11,541,288  
     

 

 

 

Leisure Goods/Activities/Movies — 0.4%

 

Carnival Corp., 4.00%, 8/1/28(1)

     34,575      $ 34,475,770  

SeaWorld Parks & Entertainment, Inc., 8.75%, 5/1/25(1)

     2,125        2,292,928  
     

 

 

 
      $ 36,768,698  
     

 

 

 

Machinery — 0.1%

 

TK Elevator U.S. Newco, Inc., 5.25%, 7/15/27(1)

     4,150      $ 4,387,795  
     

 

 

 
      $ 4,387,795  
     

 

 

 

Oil and Gas — 0.1%

 

CITGO Petroleum Corporation:

 

6.375%, 6/15/26(1)

     1,750      $ 1,787,187  

7.00%, 6/15/25(1)

     10,525        10,817,911  
     

 

 

 
      $ 12,605,098  
     

 

 

 

 

7

 

 


                                                 
Security    Principal
Amount*
(000’s omitted)
     Value  

Radio and Television — 0.3%

 

Diamond Sports Group, LLC/Diamond Sports Finance Co., 5.375%, 8/15/26(1)

     6,753      $ 3,924,891  
iHeartCommunications, Inc.:

 

4.75%, 1/15/28(1)

     2,550        2,647,690  

5.25%, 8/15/27(1)

     2,125        2,217,863  

6.375%, 5/1/26

     2,896        3,058,575  

8.375%, 5/1/27

     5,248        5,589,564  

Univision Communications, Inc., 4.50%, 5/1/29(1)

     9,125        9,158,945  
     

 

 

 
      $ 26,597,528  
     

 

 

 

Real Estate Investment Trusts (REITs) — 0.1%

     

Park Intermediate Holdings, LLC/PK Domestic Property, LLC/PK Finance Co-Issuer,
5.875%, 10/1/28(1)

     6,425      $ 6,880,083  
     

 

 

 
   $ 6,880,083  
     

 

 

 

Retailers (Except Food and Drug) — 0.0%(9)

     

PetSmart, Inc./PetSmart Finance Corp., 4.75%, 2/15/28(1)

     1,300      $ 1,351,493  
     

 

 

 
   $ 1,351,493  
     

 

 

 

Software and Services — 0.1%

     

Boxer Parent Co., Inc., 7.125%, 10/2/25(1)

     4,225      $ 4,515,448  
     

 

 

 
   $ 4,515,448  
     

 

 

 

Telecommunications — 0.4%

     

Digicel International Finance, Ltd./Digicel International Holdings, Ltd., 8.75%, 5/25/24(1)

     6,325      $ 6,595,204  

LCPR Senior Secured Financing DAC, 5.125%, 7/15/29(1)

     6,900        7,078,261  

Lumen Technologies, Inc., 4.00%, 2/15/27(1)

     6,750        6,944,063  

VMED O2 UK Financing I PLC, 4.25%, 1/31/31(1)

     8,550        8,486,559  
     

 

 

 
   $ 29,104,087  
     

 

 

 

Utilities — 0.0%(9)

     

Calpine Corp., 5.25%, 6/1/26(1)

     2,245      $ 2,315,403  
     

 

 

 
   $ 2,315,403  
     

 

 

 

Total Corporate Bonds
(identified cost $532,567,814)

      $ 547,434,836  
     

 

 

 

Exchange-Traded Funds — 0.6%

     
Security    Shares      Value  

SPDR Blackstone Senior Loan ETF

     1,051,000      $ 48,156,820  
     

 

 

 

Total Exchange-Traded Funds
(identified cost $48,242,942)

      $ 48,156,820  
     

 

 

 

Preferred Stocks — 0.0%(9)

 

Security    Shares      Value  

Financial Services — 0.0%

     

DBI Investors, Inc., Series A-1(6)(7)(8)

     13,348      $ 0  
     

 

 

 
   $ 0  
     

 

 

 

 

8

 

 


                                                 
Security    Shares      Value  

Nonferrous Metals/Minerals — 0.0%(9)

     

ACNR Holdings, Inc., 15.00% (PIK) (7)(8)

     17,394      $ 1,969,870  
     

 

 

 
   $ 1,969,870  
     

 

 

 

Retailers (Except Food and Drug) — 0.0%

 

David’s Bridal, LLC, Series A, 8.00% (PIK)(6)(7)(8)

     7,852      $ 0  

David’s Bridal, LLC, Series B, 10.00% (PIK)(6)(7)(8)

     31,998        0  
     

 

 

 
   $ 0  
     

 

 

 

Total Preferred Stocks
(identified cost $2,590,558)

      $ 1,969,870  
     

 

 

 

Senior Floating-Rate Loans — 85.5%(11)

 

Borrower/Description   

Principal

Amount*
(000’s omitted)

     Value  

Aerospace and Defense — 1.9%

 

Aernnova Aerospace S.A.U.:

 

  

Term Loan, 3.00%, (3 mo. EURIBOR + 3.00%), 2/22/27

   EUR 1,194      $ 1,357,311  

Term Loan, 3.00%, (3 mo. EURIBOR + 3.00%), 2/26/27

   EUR 4,656        5,293,514  
AI Convoy (Luxembourg) S.a.r.l.:

 

  

Term Loan, 3.50%, (6 mo. EURIBOR + 3.50%), 1/18/27

   EUR 2,850        3,368,738  

Term Loan, 4.50%, (USD LIBOR + 3.50%, Floor 1.00%), 1/17/27(12)

     6,648        6,653,150  
Dynasty Acquisition Co., Inc.:

 

  

Term Loan, 3.647%, (3 mo. USD LIBOR + 3.50%), 4/6/26

     12,388        12,000,408  

Term Loan, 3.647%, (3 mo. USD LIBOR + 3.50%), 4/6/26

     23,036        22,315,765  
IAP Worldwide Services, Inc.:

 

  

Revolving Loan, 0.75%, 7/18/23(13)

     5,526        5,525,246  

Term Loan - Second Lien, 8.00%, (3 mo. USD LIBOR + 6.50%, Floor 1.50%), 7/18/23(6)

     6,871        5,629,406  

Spirit Aerosystems, Inc., Term Loan, 6.00%, (1 mo. USD LIBOR + 5.25%, Floor 0.75%), 1/15/25

     5,779        5,832,335  
TransDigm, Inc.:

 

  

Term Loan, 2.342%, (1 mo. USD LIBOR + 2.25%), 8/22/24

     28,387        27,983,475  

Term Loan, 2.342%, (1 mo. USD LIBOR + 2.25%), 5/30/25

     6,352        6,246,946  

Term Loan, 2.342%, (1 mo. USD LIBOR + 2.25%), 12/9/25

     33,949        33,391,702  

WP CPP Holdings, LLC, Term Loan, 4.75%, (USD LIBOR + 3.75%, Floor 1.00%), 4/30/25(12)

     21,855        21,111,792  
     

 

 

 
      $ 156,709,788  
     

 

 

 

Air Transport — 1.1%

 

AAdvantage Loyalty IP, Ltd., Term Loan, 5.50%, (3 mo. USD LIBOR + 4.75%, Floor 0.75%), 4/20/28

     16,125      $ 16,588,594  

Brown Group Holding, LLC, Term Loan, 3.25%, (3 mo. USD LIBOR + 2.75%, Floor 0.50%), 6/7/28

     10,095        10,038,118  

Mileage Plus Holdings, LLC, Term Loan, 6.25%, (3 mo. USD LIBOR + 5.25%, Floor 1.00%), 6/21/27

     8,600        9,134,567  

 

9

 

 


                                                 
Borrower/Description   

Principal

Amount*
(000’s omitted)

     Value  

SkyMiles IP, Ltd., Term Loan, 4.75%, (3 mo. USD LIBOR + 3.75%, Floor 1.00%), 10/20/27

     34,225      $ 36,197,216  

United Airlines, Inc., Term Loan, 4.50%, (1 mo. USD LIBOR + 3.75%, Floor 0.75%), 4/21/28

     17,818        17,880,609  
     

 

 

 
      $ 89,839,104  
     

 

 

 

Automotive — 3.6%

 

Adient US, LLC, Term Loan, 3.592%, (1 mo. USD LIBOR + 3.50%), 4/8/28

     8,025      $ 8,028,346  

American Axle and Manufacturing, Inc., Term Loan, 3.00%, (1 mo. USD LIBOR + 2.25%, Floor 0.75%), 4/6/24

     17,996        17,978,411  

Autokiniton US Holdings, Inc., Term Loan, 5.00%, (3 mo. USD LIBOR + 4.50%, Floor 0.50%), 4/6/28

     11,150        11,233,625  

Belron Finance US, LLC, Term Loan, 3.25%, (3 mo. USD LIBOR + 2.75%, Floor 0.50%), 4/13/28

     7,805        7,773,732  

Belron Luxembourg S.a r.l., Term Loan, 2.75%, (3 mo. EURIBOR + 2.75%), 4/13/28

   EUR 3,575        4,221,627  

Bright Bidco B.V., Term Loan, 4.50%, (USD LIBOR + 3.50%, Floor 1.00%), 6/30/24(12)

     17,874        14,331,339  

Chassix, Inc., Term Loan, 6.50%, (USD LIBOR + 5.50%, Floor 1.00%), 11/15/23(12)

     9,459        9,431,179  
Clarios Global, L.P.:

 

  

Term Loan, 3.25%, (1 mo. EURIBOR + 3.25%), 4/30/26

   EUR 16,500        19,438,551  

Term Loan, 3.342%, (1 mo. USD LIBOR + 3.25%), 4/30/26

     20,842        20,713,897  

CS Intermediate Holdco 2, LLC, Term Loan, 2.75%, (1 mo. USD LIBOR + 2.00%, Floor 0.75%), 11/2/23

     5,031        4,917,683  

Dayco Products, LLC, Term Loan, 4.385%, (3 mo. USD LIBOR + 4.25%), 5/19/23

     10,888        10,652,536  
Garrett LX I S.a.r.l.:

 

  

Term Loan, 3.50%, (3 mo. EURIBOR + 3.50%), 4/30/28

   EUR 11,900        14,116,369  

Term Loan, 4.00%, (3 mo. USD LIBOR + 3.25%, Floor 0.75%), 4/30/28

     5,725        5,717,844  
Gates Global, LLC:

 

  

Term Loan, 3.00%, (3 mo. EURIBOR + 3.00%), 4/1/24

   EUR 8,404        9,948,236  

Term Loan, 3.50%, (1 mo. USD LIBOR + 2.75%, Floor 0.75%), 3/31/27

     14,179        14,102,794  

Goodyear Tire & Rubber Company (The), Term Loan - Second Lien, 2.11%, (1 mo. USD LIBOR + 2.00%), 3/7/25

     8,017        7,940,838  

Les Schwab Tire Centers, Term Loan, 4.00%, (6 mo. USD LIBOR + 3.25%, Floor 0.75%), 11/2/27

     20,870        20,912,512  

MajorDrive Holdings IV, LLC, Term Loan, 4.50%, (3 mo. USD LIBOR + 4.00%, Floor 0.50%), 5/12/28

     6,675        6,668,739  

Tenneco, Inc., Term Loan, 3.092%, (1 mo. USD LIBOR + 3.00%), 10/1/25

     34,316        33,973,144  

Thor Industries, Inc., Term Loan, 3.125%, (1 mo. USD LIBOR + 3.00%), 2/1/26

     9,518        9,538,357  
TI Group Automotive Systems, LLC:

 

  

Term Loan, 3.25%, (3 mo. EURIBOR + 3.25%), 12/16/26

   EUR 4,481        5,328,820  

Term Loan, 3.75%, (3 mo. USD LIBOR + 3.25%, Floor 0.50%), 12/16/26

     6,010        6,024,962  

Truck Hero, Inc., Term Loan, 4.50%, (1 mo. USD LIBOR + 3.75%, Floor 0.75%), 1/31/28

     19,576        19,547,807  

Visteon Corporation, Term Loan, 1.848%, (USD LIBOR + 1.75%), 3/25/24(12)

     2,217        2,196,323  

Wheel Pros, LLC, Term Loan, 5.25%, (1 mo. USD LIBOR + 4.50%, Floor 0.75%), 5/11/28

     7,150        7,181,281  
     

 

 

 
      $ 291,918,952  
     

 

 

 

Beverage and Tobacco — 0.2%

 

City Brewing Company, LLC, Term Loan, 4.25%, (3 mo. USD LIBOR + 3.50%, Floor 0.75%), 4/5/28

     7,075      $ 7,044,047  

 

10

 

 


                                                 
Borrower/Description   

Principal

Amount*
(000’s omitted)

     Value  

Triton Water Holdings, Inc., Term Loan, 4.00%, (3 mo. USD LIBOR + 3.50%, Floor 0.50%), 3/31/28

     11,250      $ 11,177,932  
     

 

 

 
      $ 18,221,979  
     

 

 

 

Brokerage/Securities Dealers/Investment Houses — 0.5%

 

Advisor Group, Inc., Term Loan, 4.592%, (1 mo. USD LIBOR + 4.50%), 7/31/26

     11,035      $ 11,044,075  

Clipper Acquisitions Corp., Term Loan, 1.853%, (1 mo. USD LIBOR + 1.75%), 3/3/28

     12,869        12,659,630  

Hudson River Trading, LLC, Term Loan, 3.092%, (1 mo. USD LIBOR + 3.00%), 3/20/28

     20,881        20,574,731  
     

 

 

 
      $ 44,278,436  
     

 

 

 

Building and Development — 3.5%

 

Advanced Drainage Systems, Inc., Term Loan, 2.375%, (1 mo. USD LIBOR + 2.25%), 7/31/26

     1,892      $ 1,896,435  

Aegion Corporation, Term Loan, 5.50%, (3 mo. USD LIBOR + 4.75%, Floor 0.75%), 5/17/28

     4,325        4,379,063  

American Builders & Contractors Supply Co., Inc., Term Loan, 2.092%, (1 mo. USD LIBOR + 2.00%), 1/15/27

     21,738        21,522,912  

American Residential Services, LLC, Term Loan, 4.25%, (3 mo. USD LIBOR + 3.50%, Floor 0.75%), 10/15/27

     4,129        4,129,250  

APi Group DE, Inc., Term Loan, 2.592%, (1 mo. USD LIBOR + 2.50%), 10/1/26

     13,110        13,047,177  

Artera Services, LLC, Term Loan, 3/6/25(14)

     13,225        13,179,532  

Beacon Roofing Supply, Inc., Term Loan, 2.592%, (1 mo. USD LIBOR + 2.50%), 4/23/28

     9,500        9,454,201  

Brookfield Property REIT, Inc., Term Loan, 3.092%, (1 mo. USD LIBOR + 3.00%), 8/28/23

     9,891        9,798,663  

Core & Main L.P., Term Loan, 7/27/28(14)

     14,100        14,003,062  

Cornerstone Building Brands, Inc., Term Loan, 3.75%, (1 mo. USD LIBOR + 3.25%, Floor 0.50%), 4/12/28

     12,868        12,862,384  

CPG International, Inc., Term Loan, 3.25%, (3 mo. USD LIBOR + 2.50%, Floor 0.75%), 5/5/24

     6,764        6,755,829  

Cushman & Wakefield U.S. Borrower, LLC, Term Loan, 2.842%, (1 mo. USD LIBOR + 2.75%), 8/21/25

     28,559        28,189,685  

Foundation Building Materials Holding Company, LLC, Term Loan, 3.75%, (USD LIBOR + 3.25%, Floor 0.50%), 2/3/28(12)

     16,025        15,868,083  

Groupe Solmax, Inc., Term Loan, 6/28/28(14)

     8,350        8,381,313  

MI Windows and Doors, LLC, Term Loan, 4.50%, (1 mo. USD LIBOR + 3.75%, Floor 0.75%), 12/18/27

     8,727        8,750,865  

Northstar Group Services, Inc., Term Loan, 6.50%, (1 mo. USD LIBOR + 5.50%, Floor 1.00%), 11/12/26

     8,838        8,904,411  

Osmose Utilities Services, Inc., Term Loan, 3.75%, (1 mo. USD LIBOR + 3.25%, Floor 0.50%), 6/23/28

     6,950        6,890,633  

Park River Holdings, Inc., Term Loan, 4.00%, (3 mo. USD LIBOR + 3.25%, Floor 0.75%), 12/28/27

     7,980        7,920,772  
Quikrete Holdings, Inc.:

 

  

Term Loan, 2.592%, (1 mo. USD LIBOR + 2.50%), 2/1/27

     4,325        4,275,928  

Term Loan, 2/21/28(14)

     22,225        22,023,597  

RE/MAX International, Inc., Term Loan, 3.00%, (3 mo. USD LIBOR + 2.50%, Floor 0.50%), 7/21/28

     16,625        16,604,219  

Realogy Group, LLC, Term Loan, 3.00%, (1 mo. USD LIBOR + 2.25%, Floor 0.75%), 2/8/25

     1,227        1,223,698  

SRS Distribution, Inc., Term Loan, 4.25%, (6 mo. USD LIBOR + 3.75%, Floor 0.50%), 6/2/28

     9,875        9,819,453  

U.S. Concrete, Inc., Term Loan, 3.25%, (1 mo. USD LIBOR + 2.75%, Floor 0.50%), 5/26/28

     3,500        3,497,813  

Werner FinCo L.P., Term Loan, 5.00%, (3 mo. USD LIBOR + 4.00%, Floor 1.00%), 7/24/24

     4,680        4,670,904  

 

11

 

 


                                                 
Borrower/Description   

Principal

Amount*
(000’s omitted)

     Value  

White Cap Buyer, LLC, Term Loan, 4.50%, (1 mo. USD LIBOR + 4.00%, Floor 0.50%), 10/19/27

     18,726      $ 18,761,854  

WireCo WorldGroup, Inc., Term Loan, 6.00%, (6 mo. USD LIBOR + 5.00%, Floor 1.00%), 9/30/23

     7,722        7,737,064  
     

 

 

 
      $ 284,548,800  
     

 

 

 

Business Equipment and Services — 6.7%

 

Adtalem Global Education, Inc., Term Loan, 5.25%, (USD Prime + 2.00%), 4/11/25

     4,414      $ 4,391,432  
AlixPartners, LLP:

 

  

Term Loan, 3.25%, (3 mo. EURIBOR + 3.25%), 2/4/28

   EUR 3,516        4,145,006  

Term Loan, 3.25%, (1 mo. USD LIBOR + 2.75%, Floor 0.50%), 2/4/28

     11,197        11,142,352  

Allied Universal Holdco, LLC, Term Loan, 4.25%, (3 mo. USD LIBOR + 3.75%, Floor 0.50%), 5/12/28

     8,600        8,600,699  

Amentum Government Services Holdings, LLC, Term Loan, 3.592%, (1 mo. USD LIBOR + 3.50%), 1/29/27

     9,479        9,435,807  

AppLovin Corporation, Term Loan, 3.342%, (1 mo. USD LIBOR + 3.25%), 8/15/25

     37,177        36,960,187  

Asplundh Tree Expert, LLC, Term Loan, 1.842%, (1 mo. USD LIBOR + 1.75%), 9/7/27

     8,387        8,309,502  

Belfor Holdings, Inc., Term Loan, 3.842%, (1 mo. USD LIBOR + 3.75%), 4/6/26

     2,648        2,654,284  

Blitz 20-487 GmbH, Term Loan, 3.50%, (3 mo. EURIBOR + 3.50%), 4/28/28

   EUR 5,525        6,521,258  

Bracket Intermediate Holding Corp., Term Loan, 4.395%, (3 mo. USD LIBOR + 4.25%), 9/5/25

     8,933        8,925,724  

Brand Energy & Infrastructure Services, Inc., Term Loan, 5.25%, (3 mo. USD LIBOR + 4.25%, Floor 1.00%), 6/21/24

     8,005        7,858,739  

Camelot U.S. Acquisition 1 Co., Term Loan, 4.00%, (1 mo. USD LIBOR + 3.00%, Floor 1.00%), 10/30/26

     8,134        8,101,084  

Cast and Crew Payroll, LLC, Term Loan, 3.842%, (1 mo. USD LIBOR + 3.75%), 2/9/26

     8,591        8,536,427  

Ceridian HCM Holding, Inc., Term Loan, 2.584%, (1 week USD LIBOR + 2.50%), 4/30/25

     10,138        9,971,932  

CM Acquisition Co., Term Loan, 11.00%, (3 mo. USD LIBOR + 10.00%, Floor 1.00%), 7/26/23

     4,618        4,583,213  

Deerfield Dakota Holding, LLC, Term Loan, 4.75%, (1 mo. USD LIBOR + 3.75%, Floor 1.00%), 4/9/27

     2,302        2,303,428  

EAB Global, Inc., Term Loan, 4.75%, (3 mo. USD LIBOR + 3.75%, Floor 1.00%), 11/15/24

     3,721        3,716,710  

Employbridge, LLC, Term Loan, 5.50%, (3 mo. USD LIBOR + 4.75%, Floor 0.75%), 7/14/28

     17,745        17,559,636  

Endure Digital, Inc., Term Loan, 4.25%, (3 mo. USD LIBOR + 3.50%, Floor 0.75%), 2/10/28

     25,325        25,021,632  

First Advantage Holdings, LLC, Term Loan, 2.842%, (1 mo. USD LIBOR + 2.75%), 1/31/27

     5,857        5,826,055  

Garda World Security Corporation, Term Loan, 4.34%, (1 mo. USD LIBOR + 4.25%), 10/30/26

     7,695        7,687,914  

Grab Holdings, Inc., Term Loan, 5.50%, (6 mo. USD LIBOR + 4.50%, Floor 1.00%), 1/29/26

     20,873        20,977,051  

Greeneden U.S. Holdings II, LLC:

 

  

Term Loan, 4.25%, (3 mo. EURIBOR + 4.25%), 12/1/27

   EUR 1,244        1,482,160  

Term Loan, 4.75%, (1 mo. USD LIBOR + 4.00%, Floor 0.75%), 12/1/27

     5,970        5,981,725  

Hillman Group, Inc. (The):

 

  

Term Loan, 0.72%, 7/14/28(13)

     1,118        1,112,692  

Term Loan, 3.25%, (1 mo. USD LIBOR + 2.75%, Floor 0.50%), 7/14/28

     5,061        5,035,983  

 

12

 

 


                                                 
Borrower/Description   

Principal

Amount*
(000’s omitted)

     Value  

IG Investment Holdings, LLC, Term Loan, 4.75%, (3 mo. USD LIBOR + 3.75%, Floor 1.00%), 5/23/25

     21,930      $ 21,976,945  

Intrado Corp., Term Loan, 5.00%, (3 mo. USD LIBOR + 4.00%, Floor 1.00%), 10/10/24

     4,376        4,275,402  

IRI Holdings, Inc.:

 

  

Term Loan, 4.337%, (1 mo. USD LIBOR + 4.25%), 12/1/25

     22,278        22,271,409  

Term Loan, 5.092%, (1 mo. USD LIBOR + 5.00%), 12/1/25

     6,253        6,455,964  

Iron Mountain, Inc., Term Loan, 1.842%, (1 mo. USD LIBOR + 1.75%), 1/2/26

     8,813        8,669,718  

Ivanti Software, Inc.:

 

  

Term Loan, 4.75%, (3 mo. USD LIBOR + 4.00%, Floor 0.75%), 12/1/27

     5,411        5,396,221  

Term Loan, 5.75%, (3 mo. USD LIBOR + 4.75%, Floor 1.00%), 12/1/27

     18,454        18,465,284  

Term Loan - Second Lien, 9.50%, (3 mo. USD LIBOR + 8.50%, Floor 1.00%), 12/1/28

     5,750        5,721,250  

KAR Auction Services, Inc., Term Loan, 2.375%, (1 mo. USD LIBOR + 2.25%), 9/19/26

     3,310        3,268,409  

KUEHG Corp.:

 

  

Term Loan, 4.75%, (3 mo. USD LIBOR + 3.75%, Floor 1.00%), 2/21/25

     19,956        19,528,834  

Term Loan - Second Lien, 9.25%, (3 mo. USD LIBOR + 8.25%, Floor 1.00%), 8/22/25

     4,425        4,342,031  

LGC Group Holdings, Ltd., Term Loan, 2.75%, (1 mo. EURIBOR + 2.75%), 4/21/27

   EUR 5,775        6,761,286  

Loire Finco Luxembourg S.a.r.l., Term Loan, 3.092%, (1 mo. USD LIBOR + 3.00%), 4/21/27

     3,044        2,985,381  

Magnite, Inc., Term Loan, 5.75%, (3 mo. USD LIBOR + 5.00%, Floor 0.75%), 4/28/28

     6,050        6,034,875  

MedAssets Software Intermediate Holdings, Inc., Term Loan, 4.50%, (USD LIBOR + 3.75%, Floor 0.75%), 1/28/28(12)

     6,750        6,741,562  

Monitronics International, Inc., Term Loan, 7.75%, (3 mo. USD LIBOR + 6.50%, Floor 1.25%), 3/29/24

     17,059        16,533,263  

Nielsen Consumer, Inc.:

 

  

Term Loan, 4.00%, (1 mo. EURIBOR + 4.00%), 3/6/28

   EUR 2,843        3,384,479  

Term Loan, 4.103%, (1 mo. USD LIBOR + 4.00%), 3/6/28

     5,287        5,285,333  

Packaging Coordinators Midco, Inc., Term Loan, 4.25%, (3 mo. USD LIBOR + 3.50%, Floor 0.75%), 11/30/27

     2,250        2,250,562  

Pike Corporation, Term Loan, 3.10%, (1 mo. USD LIBOR + 3.00%), 1/21/28

     3,260        3,248,048  

Prime Security Services Borrower, LLC, Term Loan, 3.50%, (USD LIBOR + 2.75%, Floor 0.75%), 9/23/26(12)

     896        892,890  

Rockwood Service Corporation, Term Loan, 4.092%, (1 mo. USD LIBOR + 4.00%), 1/23/27

     4,138        4,152,700  

Sabre GLBL, Inc.:

 

  

Term Loan, 12/17/27(14)

     3,055        3,034,436  

Term Loan, 12/17/27(14)

     4,870        4,837,071  

SITEL Worldwide Corporation:

 

  

Term Loan, 7/27/28(14)

   EUR 6,425        7,626,416  

Term Loan, 7/27/28(14)

     20,325        20,299,594  

Skopima Merger Sub, Inc., Term Loan, 4.50%, (1 mo. USD LIBOR + 4.00%, Floor 0.50%), 4/30/28

     9,675        9,622,591  

Sotheby’s, Term Loan, 5.50%, (3 mo. USD LIBOR + 4.75%, Floor 0.75%), 1/15/27

     5,816        5,834,615  

Speedster Bidco GmbH, Term Loan, 3.00%, (6 mo. EURIBOR + 3.00%), 3/31/27

   EUR 2,975        3,464,813  

Spin Holdco, Inc., Term Loan, 4.75%, (3 mo. USD LIBOR + 4.00%, Floor 0.75%), 3/1/28

     34,464        34,485,165  

 

13

 

 


                                                 
Borrower/Description   

Principal

Amount*
(000’s omitted)

     Value  

team.blue Finco S.a.r.l.:

 

  

Term Loan, 3.75%, (3 mo. EURIBOR + 3.75%), 3/27/28

   EUR 10,547      $ 12,472,627  

Term Loan, 3/27/28(14)

   EUR 603        712,721  

TK Elevator Topco GmbH, Term Loan, 7/29/27(14)

   EUR 2,625        3,117,150  

TTF Holdings, LLC, Term Loan, 4.75%, (3 mo. USD LIBOR + 4.00%, Floor 0.75%), 3/24/28

     3,975        3,970,031  

Vestcom Parent Holdings, Inc., Term Loan, 5.00%, (1 mo. USD LIBOR + 4.00%, Floor 1.00%), 12/19/23

     4,652        4,643,449  

West Corporation, Term Loan, 4.50%, (3 mo. USD LIBOR + 3.50%, Floor 1.00%), 10/10/24

     3,415        3,307,094  

WEX, Inc., Term Loan, 2.342%, (1 mo. USD LIBOR + 2.25%), 3/31/28

     3,990        3,952,283  
Zephyr Bidco Limited:

 

  

Term Loan, 3.75%, (2 mo. EURIBOR + 3.75%), 7/23/25

   EUR 4,975        5,903,432  

Term Loan, 4.803%, (1 mo. GBP LIBOR + 4.75%), 7/23/25

   GBP 8,675        11,954,629  
     

 

 

 
      $ 554,722,595  
     

 

 

 

Cable and Satellite Television — 3.5%

 

Altice France S.A.:

 

  

Term Loan, 3.814%, (3 mo. USD LIBOR + 3.69%), 1/31/26

     4,461      $ 4,415,232  

Term Loan, 4.155%, (3 mo. USD LIBOR + 4.00%), 8/14/26

     11,662        11,649,694  

Charter Communications Operating, LLC, Term Loan, 1.85%, (1 mo. USD LIBOR + 1.75%), 2/1/27

     6,705        6,634,269  
CSC Holdings, LLC:

 

  

Term Loan, 2.343%, (1 mo. USD LIBOR + 2.25%), 7/17/25

     25,599        25,246,791  

Term Loan, 2.343%, (1 mo. USD LIBOR + 2.25%), 1/15/26

     4        4,126  

Term Loan, 2.593%, (1 mo. USD LIBOR + 2.50%), 4/15/27

     13,277        13,141,227  

LCPR Loan Financing, LLC, Term Loan, 3.843%, (1 mo. USD LIBOR + 3.75%), 10/15/28

     1,650        1,654,744  
Numericable Group S.A.:

 

  

Term Loan, 2.879%, (3 mo. USD LIBOR + 2.75%), 7/31/25

     20,913        20,471,095  

Term Loan, 3.00%, (3 mo. EURIBOR + 3.00%), 7/31/25

   EUR 12,090        14,140,395  

Telenet Financing USD, LLC, Term Loan, 2.093%, (1 mo. USD LIBOR + 2.00%), 4/30/28

     32,325        31,770,853  

Telenet International Finance S.a.r.l., Term Loan, 2.25%, (6 mo. EURIBOR + 2.25%), 4/30/29

   EUR 5,000        5,891,395  
UPC Broadband Holding B.V.:

 

  

Term Loan, 2.343%, (1 mo. USD LIBOR + 2.25%), 4/30/28

     7,475        7,360,543  

Term Loan, 2.50%, (6 mo. EURIBOR + 2.50%), 4/30/29

   EUR 2,350        2,760,308  

Term Loan, 3.00%, (6 mo. EURIBOR + 3.00%), 1/31/29

   EUR 13,850        16,334,050  

UPC Financing Partnership, Term Loan, 3.093%, (1 mo. USD LIBOR + 3.00%), 1/31/29

     28,250        28,009,423  
Virgin Media Bristol, LLC:

 

  

Term Loan, 2.593%, (1 mo. USD LIBOR + 2.50%), 1/31/28

     44,275        43,653,910  

Term Loan, 3.343%, (1 mo. USD LIBOR + 3.25%), 1/31/29

     500        498,348  

Virgin Media Ireland Limited, Term Loan, 6/17/29(14)

   EUR 8,500        10,035,851  
Virgin Media SFA Finance Limited:

 

  

Term Loan, 2.50%, (6 mo. EURIBOR + 2.50%), 1/31/29

   EUR 11,625        13,608,203  

Term Loan, 3.304%, (1 mo. GBP LIBOR + 3.25%), 1/15/27

   GBP 8,175        11,207,013  

Term Loan, 3.304%, (1 mo. GBP LIBOR + 3.25%), 11/15/27

   GBP 600        822,533  

Ziggo B.V., Term Loan, 3.00%, (6 mo. EURIBOR + 3.00%), 1/31/29

   EUR 17,350        20,382,756  
     

 

 

 
      $ 289,692,759  
     

 

 

 

 

14

 

 


                                                 
Borrower/Description   

Principal

Amount*
(000’s omitted)

     Value  

Chemicals and Plastics — 4.3%

 

Aruba Investments, Inc.:

 

  

Term Loan, 4.00%, (6 mo. EURIBOR + 4.00%), 11/24/27

   EUR 3,441      $ 4,100,189  

Term Loan, 4.75%, (6 mo. USD LIBOR + 4.00%, Floor 0.75%), 11/24/27

     5,112        5,144,139  
Atotech B.V.:

 

  

Term Loan, 2.75%, (3 mo. EURIBOR + 2.75%), 3/18/28

   EUR 2,675        3,155,368  

Term Loan, 3.00%, (3 mo. USD LIBOR + 2.50%, Floor 0.50%), 3/18/28

     12,525        12,489,780  

Axalta Coating Systems US Holdings, Inc., Term Loan, 1.897%, (3 mo. USD LIBOR + 1.75%), 6/1/24

     29,836        29,534,465  
Azelis Finance S.A.:

 

  

Term Loan, 3.00%, (3 mo. EURIBOR + 3.00%), 11/7/25

   EUR 2,600        3,060,475  

Term Loan, 3.875%, (3 mo. EURIBOR + 3.875%), 11/7/25

   EUR 2,850        3,377,995  

Caldic B.V.:

 

  

Term Loan, 2.75%, (3 mo. EURIBOR + 2.75%), 7/18/24

   EUR 500        584,228  

Term Loan, 2.75%, (3 mo. EURIBOR + 2.75%), 7/18/24

   EUR 2,166        2,531,329  

Charter NEX US, Inc., Term Loan, 4.50%, (1 mo. USD LIBOR + 3.75%, Floor 0.75%), 12/1/27

     3,184        3,187,649  

Chemours Company (The), Term Loan, 2.50%, (3 mo. EURIBOR + 2.00%, Floor 0.50%), 4/3/25

   EUR 2,826        3,338,604  

Colouroz Investment 1 GmbH, Term Loan, 5.75%, (3 mo. EURIBOR + 5.00%, Floor 0.75%), 5.00% cash, 0.75% PIK, 9/21/23

   EUR 1,966        2,324,504  

CPC Acquisition Corp., Term Loan, 4.50%, (3 mo. USD LIBOR + 3.75%, Floor 0.75%), 12/29/27

     16,883        16,798,274  

Element Solutions, Inc., Term Loan, 2.092%, (1 mo. USD LIBOR + 2.00%), 1/31/26

     4,395        4,378,034  

Emerald Performance Materials, LLC, Term Loan, 5.00%, (1 mo. USD LIBOR + 4.00%, Floor 1.00%), 8/12/25

     8,730        8,764,031  

Ferro Corporation:

 

  

Term Loan, 2.397%, (3 mo. USD LIBOR + 2.25%), 2/14/24

     1,675        1,672,372  

Term Loan, 2.397%, (3 mo. USD LIBOR + 2.25%), 2/14/24

     1,712        1,708,728  

Term Loan, 2.397%, (3 mo. USD LIBOR + 2.25%), 2/14/24

     2,370        2,365,844  

Flint Group GmbH, Term Loan, 6.00%, (3 mo. USD LIBOR + 5.00%, Floor 1.00%), 5.25% cash, 0.75% PIK, 9/21/23

     2,022        2,012,295  

Flint Group US, LLC, Term Loan, 6.00%, (3 mo. USD LIBOR + 5.00%, Floor 1.00%), 5.25% cash, 0.75% PIK, 9/21/23

     12,231        12,172,736  

Gemini HDPE, LLC, Term Loan, 3.50%, (3 mo. USD LIBOR + 3.00%, Floor 0.50%), 12/31/27

     5,179        5,167,784  

Hexion, Inc., Term Loan, 4.00%, (3 mo. EURIBOR + 4.00%), 7/1/26

   EUR 5,339        6,357,486  

Illuminate Buyer, LLC, Term Loan, 3.592%, (1 mo. USD LIBOR + 3.50%), 6/30/27

     14,473        14,373,785  

INEOS 226 Limited, Term Loan, 2.75%, (1 mo. EURIBOR + 2.75%), 1/29/26

   EUR 24,900        29,289,703  

INEOS Enterprises Holdings II Limited, Term Loan, 3.25%, (3 mo. EURIBOR + 3.25%), 8/31/26

   EUR 1,975        2,340,334  

INEOS Enterprises Holdings US Finco, LLC, Term Loan, 4.50%, (3 mo. USD LIBOR + 3.50%, Floor 1.00%), 8/28/26

     5,104        5,126,674  

INEOS Finance PLC, Term Loan, 2.50%, (1 mo. EURIBOR + 2.00%, Floor 0.50%), 4/1/24

   EUR 6,307        7,450,441  

INEOS Styrolution US Holding, LLC, Term Loan, 3.25%, (1 mo. USD LIBOR + 2.75%, Floor 0.50%), 1/29/26

     17,850        17,823,975  

Kraton Polymers, LLC, Term Loan, 2.75%, (3 mo. EURIBOR + 2.00%, Floor 0.75%), 3/5/25

   EUR 526        622,604  

 

15

 

 


                                                 
Borrower/Description   

Principal

Amount*
(000’s omitted)

     Value  

Lonza Group AG:

 

  

Term Loan, 4.00%, (6 mo. EURIBOR + 4.00%), 4/29/28

   EUR 7,125      $ 8,449,390  

Term Loan, 4.75%, (3 mo. USD LIBOR + 4.00%, Floor 0.75%), 6/29/28

     12,100        12,120,800  

LSF11 Skyscraper Holdco S.a.r.l.:

 

  

Term Loan, 3.50%, (3 mo. EURIBOR + 3.50%), 9/29/27

   EUR 11,350        13,398,712  

Term Loan, 4.25%, (3 mo. USD LIBOR + 3.50%, Floor 0.75%), 9/29/27

     4,839        4,845,049  

Messer Industries GmbH:

 

  

Term Loan, 2.50%, (3 mo. EURIBOR + 2.50%), 3/1/26

   EUR 2,632        3,099,558  

Term Loan, 2.647%, (3 mo. USD LIBOR + 2.50%), 3/1/26

     10,436        10,352,986  

PMHC II, Inc., Term Loan, 4.50%, (3 mo. USD LIBOR + 3.50%, Floor 1.00%), 3/31/25

     4,064        4,038,103  

PQ Corporation:

 

  

Term Loan, 2.379%, (3 mo. USD LIBOR + 2.25%), 2/7/27

     4,056        4,045,335  

Term Loan, 3.25%, (3 mo. USD LIBOR + 2.75%, Floor 0.50%), 6/9/28

     8,890        8,852,493  

Pregis TopCo Corporation, Term Loan, 4.50%, (1 mo. USD LIBOR + 4.00%, Floor 0.50%), 7/31/26

     1,375        1,377,292  

Ravago Holdings America, Inc., Term Loan, 2.65%, (1 mo. USD LIBOR + 2.50%), 2/18/28

     1,796        1,785,400  

Rohm Holding GmbH:

 

  

Term Loan, 4.50%, (3 mo. EURIBOR + 4.50%), 7/31/26

   EUR 2,150        2,556,494  

Term Loan, 4.904%, (6 mo. USD LIBOR + 4.75%), 7/31/26

     10,710        10,696,261  

Solenis Holdings, LLC:

 

  

Term Loan, 4.00%, (3 mo. EURIBOR + 4.00%), 6/26/25

   EUR 1,741        2,071,164  

Term Loan, 4.135%, (3 mo. USD LIBOR + 4.00%), 6/26/25

     20,635        20,648,842  

Starfruit Finco B.V., Term Loan, 2.835%, (1 mo. USD LIBOR + 2.75%), 10/1/25

     8,242        8,150,586  

Trinseo Materials Operating S.C.A., Term Loan, 2.592%, (1 mo. USD LIBOR + 2.50%), 5/3/28

     7,775        7,694,334  

Tronox Finance, LLC, Term Loan, 2.628%, (USD LIBOR + 2.50%), 3/13/28(12)

     14,995        14,869,723  
     

 

 

 
      $ 350,306,347  
     

 

 

 

Clothing/Textiles — 0.0%(9)

 

Samsonite International S.A., Term Loan, 1.842%, (1 mo. USD LIBOR + 1.75%), 4/25/25

     2,751      $ 2,689,517  
     

 

 

 
      $ 2,689,517  
     

 

 

 

Conglomerates — 0.1%

 

Penn Engineering & Manufacturing Corp., Term Loan, 3.50%, (2 mo. USD LIBOR + 2.50%, Floor 1.00%), 6/27/24

     1,900      $ 1,897,781  

Spectrum Brands, Inc., Term Loan, 2.50%, (6 mo. USD LIBOR + 2.00%, Floor 0.50%), 3/3/28

     4,239        4,206,257  
     

 

 

 
      $ 6,104,038  
     

 

 

 

Containers and Glass Products — 1.8%

 

Berry Global, Inc., Term Loan, 1.85%, (1 mo. USD LIBOR + 1.75%), 7/1/26

     6,443      $ 6,378,461  

BWAY Holding Company, Term Loan, 3.342%, (1 mo. USD LIBOR + 3.25%), 4/3/24

     11,141        10,802,970  
Flex Acquisition Company, Inc.:

 

  

Term Loan, 3.395%, (3 mo. USD LIBOR + 3.25%), 6/29/25

     10,325        10,192,876  

Term Loan, 4.00%, (3 mo. USD LIBOR + 3.50%, Floor 0.50%), 2/23/28

     29,711        29,487,688  

Kouti B.V., Term Loan, 7/1/28(14)

   EUR 29,975        35,468,933  

Libbey Glass, Inc., Term Loan, 9.00%, (6 mo. USD LIBOR + 8.00%, Floor 1.00%), 11/13/25

     7,683        7,989,951  

 

16

 

 


                                                 
Borrower/Description   

Principal

Amount*
(000’s omitted)

     Value  

Proampac PG Borrower, LLC, Term Loan, 4.50%, (USD LIBOR + 3.75%, Floor 0.75%), 11/3/25(12)

     19,338      $ 19,364,833  

Reynolds Group Holdings, Inc., Term Loan, 2.842%, (1 mo. USD LIBOR + 2.75%), 2/5/23

     16,141        16,111,438  
TricorBraun Holdings, Inc.:

 

  

Term Loan, 3.325%, (3 mo. USD LIBOR + 3.25%, Floor 0.50%), 3/3/28(13)

     813        806,098  

Term Loan, 3.75%, (3 mo. USD LIBOR + 3.25%, Floor 0.50%), 3/3/28

     3,612        3,583,776  
Trident TPI Holdings, Inc.:

 

  

Term Loan, 7/28/28(14)

     7,422        7,426,844  

Term Loan, 7/29/28(14)

     1,053        1,053,453  
     

 

 

 
      $ 148,667,321  
     

 

 

 

Cosmetics/Toiletries — 0.1%

 

Kronos Acquisition Holdings, Inc., Term Loan, 4.25%, (3 mo. USD LIBOR + 3.75%, Floor 0.50%), 12/22/26

     9,900      $ 9,808,316  
     

 

 

 
      $ 9,808,316  
     

 

 

 

Drugs — 3.7%

 

Aenova Holding GmbH, Term Loan, 4.50%, (6 mo. EURIBOR + 4.50%), 3/6/26

   EUR 2,925      $ 3,493,634  

Akorn, Inc., Term Loan, 8.50%, (3 mo. USD LIBOR + 7.50%, Floor 1.00%), 10/1/25

     8,288        8,454,130  
Albany Molecular Research, Inc.:

 

  

Term Loan, 4.25%, (USD LIBOR + 3.25%, Floor 1.00%), 8/30/24(12)

     3,672        3,676,105  

Term Loan, 4.50%, (USD LIBOR + 3.50%, Floor 1.00%), 8/30/24(12)

     1,766        1,769,657  

Alkermes, Inc., Term Loan, 3.00%, (3 mo. USD LIBOR + 2.50%, Floor 0.50%), 3/9/26

     18,597        18,596,981  

Amneal Pharmaceuticals, LLC, Term Loan, 3.625%, (1 mo. USD LIBOR + 3.50%), 5/4/25

     22,637        21,914,973  

Arbor Pharmaceuticals, Inc., Term Loan, 6.00%, (6 mo. USD LIBOR + 5.00%, Floor 1.00%), 7/5/23

     4,652        4,638,712  

Bausch Health Companies, Inc., Term Loan, 3.092%, (1 mo. USD LIBOR + 3.00%), 6/2/25

     40,157        39,925,165  

Cambrex Corporation, Term Loan, 4.25%, (1 mo. USD LIBOR + 3.50%, Floor 0.75%), 12/4/26

     2,987        2,993,717  

Catalent Pharma Solutions, Inc., Term Loan, 2.50%, (1 mo. USD LIBOR + 2.00%, Floor 0.50%), 2/22/28

     1,047        1,050,430  

Curia Global, Inc., Term Loan, 8/30/26(14)

     3,300        3,293,813  

Elanco Animal Health Incorporated, Term Loan, 1.85%, (1 mo. USD LIBOR + 1.75%), 8/2/27

     1,456        1,430,949  

Grifols Worldwide Operations USA, Inc., Term Loan, 2.084%, (1 week USD LIBOR + 2.00%), 11/15/27

     35,833        35,423,159  
Horizon Therapeutics USA, Inc.:

 

  

Term Loan, 2.375%, (1 mo. USD LIBOR + 2.25%), 5/22/26

     7,802        7,736,238  

Term Loan, 2.50%, (1 mo. USD LIBOR + 2.00%, Floor 0.50%), 3/15/28

     16,908        16,777,301  

Jazz Financing Lux S.a.r.l., Term Loan, 4.00%, (1 mo. USD LIBOR + 3.50%, Floor 0.50%), 5/5/28

     15,500        15,535,526  
Mallinckrodt International Finance S.A.:

 

  

Term Loan, 6.00%, (6 mo. USD LIBOR + 5.25%, Floor 0.75%), 9/24/24

     44,470        43,274,404  

Term Loan, 6.25%, (6 mo. USD LIBOR + 5.50%, Floor 0.75%), 2/24/25

     10,232        9,940,552  

 

17

 

 


                                                 
Borrower/Description   

Principal

Amount*
(000’s omitted)

     Value  

Nidda Healthcare Holding AG, Term Loan, 3.50%, (3 mo. EURIBOR + 3.50%), 8/21/26

   EUR 5,475      $ 6,433,828  

PPD, Inc., Term Loan, 2.75%, (1 mo. USD LIBOR + 2.25%, Floor 0.50%), 1/13/28

     39,431        39,388,037  

Recipharm AB, Term Loan, 2/17/28(14)

   EUR 13,725        16,225,299  
     

 

 

 
      $ 301,972,610  
     

 

 

 

Ecological Services and Equipment — 0.3%

 

EnergySolutions, LLC, Term Loan, 4.75%, (3 mo. USD LIBOR + 3.75%, Floor 1.00%), 5/9/25

     17,904      $ 17,848,167  

GFL Environmental, Inc., Term Loan, 3.50%, (3 mo. USD LIBOR + 3.00%, Floor 0.50%), 5/30/25

     498        497,780  

TruGreen Limited Partnership, Term Loan, 4.75%, (1 mo. USD LIBOR + 4.00%, Floor 0.75%), 11/2/27

     4,080        4,102,447  

US Ecology Holdings, Inc., Term Loan, 2.592%, (1 mo. USD LIBOR + 2.50%), 11/1/26

     2,561        2,560,467  
     

 

 

 
      $ 25,008,861  
     

 

 

 

Electronics/Electrical — 16.9%

 

Applied Systems, Inc.:

 

  

Term Loan, 3.774%, (USD LIBOR + 3.25%, Floor 0.50%), 9/19/24(12)

     44,804      $ 44,719,894  

Term Loan - Second Lien, 6.25%, (3 mo. USD LIBOR + 5.50%, Floor 0.75%), 9/19/25

     3,759        3,816,126  
Aptean, Inc.:

 

  

Term Loan, 4.342%, (1 mo. USD LIBOR + 4.25%), 4/23/26

     16,919        16,903,071  

Term Loan - Second Lien, 7.75%, (1 mo. USD LIBOR + 7.00%, Floor 0.75%), 4/23/27

     6,550        6,533,625  
Astra Acquisition Corp.:

 

  

Term Loan, 5.50%, (1 mo. USD LIBOR + 4.75%, Floor 0.75%), 3/1/27

     9,656        9,668,057  

Term Loan - Second Lien, 10.125%, (1 mo. USD LIBOR + 9.125%, Floor 1.00%), 2/28/28

     5,000        5,025,000  
Banff Merger Sub, Inc.:

 

  

Term Loan, 3.842%, (1 mo. USD LIBOR + 3.75%), 10/2/25

     39,754        39,444,782  

Term Loan, 4.00%, (3 mo. EURIBOR + 4.00%), 10/2/25

   EUR 11,984        14,266,058  

Barracuda Networks, Inc., Term Loan - Second Lien, 7.50%, (3 mo. USD LIBOR + 6.75%, Floor 0.75%), 10/30/28

     2,925        2,989,593  
Buzz Merger Sub, Ltd.:

 

  

Term Loan, 2.842%, (1 mo. USD LIBOR + 2.75%), 1/29/27

     4,071        4,027,464  

Term Loan, 3.75%, (1 mo. USD LIBOR + 3.25%, Floor 0.50%), 1/29/27

     435        432,882  
Celestica, Inc.:

 

  

Term Loan, 2.211%, (1 mo. USD LIBOR + 2.13%), 6/27/25

     3,988        3,967,625  

Term Loan, 2.586%, (1 mo. USD LIBOR + 2.50%), 6/27/25

     2,567        2,563,292  

CentralSquare Technologies, LLC, Term Loan, 3.897%, (3 mo. USD LIBOR + 3.75%), 8/29/25

     12,836        12,026,920  

Cloudera, Inc., Term Loan, 3.25%, (1 mo. USD LIBOR + 2.50%, Floor 0.75%), 12/22/27

     4,279        4,278,770  

CommScope, Inc., Term Loan, 3.342%, (1 mo. USD LIBOR + 3.25%), 4/6/26

     19,757        19,638,367  

Concorde Midco, Ltd., Term Loan, 4.00%, (6 mo. EURIBOR + 4.00%), 3/1/28

   EUR 5,925        7,044,342  

Constant Contact, Inc.:

 

  

Term Loan, 4.75%, 2/10/28(13)

     3,484        3,467,199  

Term Loan, 4.75%, (6 mo. USD LIBOR + 4.00%, Floor 0.75%), 2/10/28

     12,966        12,905,684  

 

18

 

 


                                                 
Borrower/Description   

Principal

Amount*
(000’s omitted)

     Value  

Cornerstone OnDemand, Inc., Term Loan, 3.339%, (1 mo. USD LIBOR + 3.25%), 4/22/27

     11,515      $ 11,483,786  

CPI International, Inc., Term Loan, 4.50%, (1 mo. USD LIBOR + 3.50%, Floor 1.00%), 7/26/24

     9,548        9,522,109  

Cvent, Inc., Term Loan, 3.842%, (1 mo. USD LIBOR + 3.75%), 11/29/24

     15,295        15,249,251  

Delta TopCo, Inc., Term Loan, 4.50%, (6 mo. USD LIBOR + 3.75%, Floor 0.75%), 12/1/27

     11,621        11,628,138  

E2open, LLC, Term Loan, 3.75%, (3 mo. USD LIBOR + 3.25%, Floor 0.50%), 2/4/28

     12,759        12,769,051  

ECI Macola Max Holdings, LLC, Term Loan, 4.50%, (3 mo. USD LIBOR + 3.75%, Floor 0.75%), 11/9/27

     11,539        11,565,062  

Electro Rent Corporation, Term Loan, 6.00%, (3 mo. USD LIBOR + 5.00%, Floor 1.00%), 1/31/24

     16,978        17,030,727  

Energizer Holdings, Inc., Term Loan, 2.75%, (1 mo. USD LIBOR + 2.25%, Floor 0.50%), 12/22/27

     7,672        7,640,655  

Epicor Software Corporation, Term Loan, 4.00%, (1 mo. USD LIBOR + 3.25%, Floor 0.75%), 7/30/27

     31,450        31,399,472  

EverCommerce, Inc., Term Loan, 3.75%, (3 mo. USD LIBOR + 3.25%, Floor 0.50%), 6/14/28

     2,775        2,769,797  

Finastra USA, Inc., Term Loan, 4.50%, (6 mo. USD LIBOR + 3.50%, Floor 1.00%), 6/13/24

     49,780        48,982,381  

Fiserv Investment Solutions, Inc., Term Loan, 4.155%, (3 mo. USD LIBOR + 4.00%), 2/18/27

     5,942        5,947,122  

Gainwell Acquisition Corp., Term Loan, 4.75%, (3 mo. USD LIBOR + 4.00%, Floor 0.75%), 10/1/27

     43,289        43,315,977  

Go Daddy Operating Company, LLC, Term Loan, 1.842%, (1 mo. USD LIBOR + 1.75%), 2/15/24

     45,863        45,452,332  

Hyland Software, Inc.:

 

  

Term Loan, 4.25%, (1 mo. USD LIBOR + 3.50%, Floor 0.75%), 7/1/24

     60,618        60,756,942  

Term Loan - Second Lien, 7.00%, (1 mo. USD LIBOR + 6.25%, Floor 0.75%), 7/7/25

     1,750        1,767,500  

IGT Holding IV AB, Term Loan, 4.25%, (3 mo. USD LIBOR + 3.75%, Floor 0.50%), 3/31/28

     5,686        5,664,428  

Imprivata, Inc., Term Loan, 4.00%, (3 mo. USD LIBOR + 3.50%, Floor 0.50%), 12/1/27

     16,065        16,056,718  

Informatica, LLC:

 

  

Term Loan, 3.25%, (3 mo. EURIBOR + 3.25%), 2/25/27

   EUR 2,395        2,821,758  

Term Loan, 3.342%, (1 mo. USD LIBOR + 3.25%), 2/25/27

     52,323        51,851,259  

Term Loan - Second Lien, 7.125%, 2/25/25(15)

     10,961        11,235,025  

Liftoff Mobile, Inc., Term Loan, 4.25%, (3 mo. USD LIBOR + 3.50%, Floor 0.75%), 3/17/28

     3,682        3,663,092  

LogMeIn, Inc., Term Loan, 4.85%, (1 mo. USD LIBOR + 4.75%), 8/31/27

     16,919        16,867,816  

MA FinanceCo., LLC:

 

  

Term Loan, 2.842%, (1 mo. USD LIBOR + 2.75%), 6/21/24

     2,712        2,659,128  

Term Loan, 3.00%, (1 mo. EURIBOR + 3.00%), 6/21/24

   EUR 2,441        2,882,833  

Term Loan, 4.50%, (3 mo. EURIBOR + 4.50%), 6/5/25

   EUR 5,544        6,644,459  

Term Loan, 5.25%, (3 mo. USD LIBOR + 4.25%, Floor 1.00%), 6/5/25

     13,885        13,980,145  

MACOM Technology Solutions Holdings, Inc., Term Loan, 2.342%, (1 mo. USD LIBOR + 2.25%), 5/17/24

     1,368        1,363,701  

Magenta Buyer, LLC:

 

  

Term Loan, 7/27/28(14)

     44,025        43,898,428  

Term Loan - Second Lien, 5/3/29(14)

     10,150        10,150,000  

Marcel LUX IV S.a.r.l.:

 

  

Term Loan, 3.342%, (1 mo. USD LIBOR + 3.25%), 3/15/26

     2,192        2,183,768  

 

19

 

 


                                                 
Borrower/Description   

Principal

Amount*
(000’s omitted)

     Value  

Term Loan, 3.50%, (1 mo. EURIBOR + 3.50%), 3/16/26

   EUR 2,650      $ 3,140,285  

Term Loan, 4.75%, (1 mo. USD LIBOR + 4.00%, Floor 0.75%), 12/31/27

     731        730,415  

Maverick Bidco, Inc.:

 

  

Term Loan, 4.50%, (3 mo. USD LIBOR + 3.75%, Floor 0.75%), 4/28/28

     8,675        8,688,550  

Term Loan - Second Lien, 7.50%, (3 mo. USD LIBOR + 6.75%, Floor 0.75%), 4/28/29

     3,175        3,206,750  

Maxlinear, Inc., Term Loan, 3.00%, (3 mo. USD LIBOR + 2.50%, Floor 0.50%), 6/17/28

     7,802        7,774,508  

Mirion Technologies, Inc., Term Loan, 4.147%, (3 mo. USD LIBOR + 4.00%), 3/6/26

     5,234        5,236,189  

N-Able International Holdings II, LLC, Term Loan, 3.50%, (1 mo. USD LIBOR + 3.00%, Floor 0.50%), 7/19/28

     4,075        4,059,719  

NCR Corporation, Term Loan, 2.63%, (3 mo. USD LIBOR + 2.50%), 8/28/26

     9,066        8,896,319  

Nobel Bidco B.V., Term Loan, 6/10/28(14)

   EUR 11,450        13,558,298  

Panther Commercial Holdings L.P., Term Loan, 5.00%, (3 mo. USD LIBOR + 4.50%, Floor 0.50%), 1/7/28

     17,713        17,750,139  

PointClickCare Technologies, Inc., Term Loan, 3.75%, (USD LIBOR + 3.00%, Floor 0.75%), 12/29/27(12)

     4,289        4,286,569  

Polaris Newco, LLC:

 

  

Term Loan, 4.00%, (3 mo. EURIBOR + 4.00%), 6/2/28

   EUR 8,650        10,271,483  

Term Loan, 4.50%, (6 mo. USD LIBOR + 4.00%, Floor 0.50%), 6/2/28

     24,500        24,501,519  

Proofpoint, Inc., Term Loan, 6/9/28(14)

     25,525        25,309,620  

ProQuest, LLC, Term Loan, 3.342%, (1 mo. USD LIBOR + 3.25%), 10/23/26

     17,761        17,750,286  

Rackspace Technology Global, Inc., Term Loan, 3.50%, (3 mo. USD LIBOR + 2.75%, Floor 0.75%), 2/15/28

     15,561        15,402,153  

RealPage, Inc., Term Loan, 3.75%, (1 mo. USD LIBOR + 3.25%, Floor 0.50%), 4/24/28

     32,650        32,484,497  

Recorded Books, Inc., Term Loan, 4.103%, (1 mo. USD LIBOR + 4.00%), 8/29/25

     6,877        6,876,977  

Redstone Buyer, LLC:

 

  

Term Loan, 5.50%, 4/27/28(13)

     4,051        4,039,612  

Term Loan, 5.50%, (3 mo. USD LIBOR + 4.75%, Floor 0.75%), 4/27/28

     10,349        10,321,393  

Renaissance Holding Corp.:

 

  

Term Loan, 3.342%, (1 mo. USD LIBOR + 3.25%), 5/30/25

     5,064        4,991,173  

Term Loan - Second Lien, 7.104%, (1 mo. USD LIBOR + 7.00%), 5/29/26

     3,175        3,186,906  

Seattle Spinco, Inc., Term Loan, 2.842%, (1 mo. USD LIBOR + 2.75%), 6/21/24

     18,313        17,957,745  

SkillSoft Corporation, Term Loan, 5.50%, (3 mo. USD LIBOR + 4.75%, Floor 0.75%), 6/30/28

     6,925        6,974,777  

SolarWinds Holdings, Inc., Term Loan, 2.842%, (1 mo. USD LIBOR + 2.75%), 2/5/24

     26,534        26,265,129  

Sophia L.P., Term Loan, 4.50%, (3 mo. USD LIBOR + 3.75%, Floor 0.75%), 10/7/27

     16,169        16,177,416  

Sovos Compliance, LLC:

 

  

Term Loan, 7/29/28(14)

     1,476        1,479,975  

Term Loan, 7/29/28(14)

     8,549        8,570,088  

SS&C European Holdings S.a.r.l., Term Loan, 1.842%, (1 mo. USD LIBOR + 1.75%), 4/16/25

     5,604        5,526,995  

SS&C Technologies, Inc., Term Loan, 1.842%, (1 mo. USD LIBOR + 1.75%), 4/16/25

     7,074        6,976,902  

SurveyMonkey, Inc., Term Loan, 3.84%, (1 week USD LIBOR + 3.75%), 10/10/25

     13,148        13,082,649  

Symplr Software, Inc., Term Loan, 5.25%, (6 mo. USD LIBOR + 4.50%, Floor 0.75%), 12/22/27

     8,279        8,290,460  

Tibco Software, Inc.:

 

  

Term Loan, 3.85%, (1 mo. USD LIBOR + 3.75%), 6/30/26

     33,794        33,493,505  

Term Loan - Second Lien, 7.35%, (1 mo. USD LIBOR + 7.25%), 3/3/28

     10,757        10,897,927  

 

20

 

 


                                                 
Borrower/Description   

Principal

Amount*
(000’s omitted)

     Value  

TTM Technologies, Inc., Term Loan, 2.60%, (1 mo. USD LIBOR + 2.50%), 9/28/24

     1,605      $ 1,603,106  

Turing Midco, LLC, Term Loan, 3.995%, (USD LIBOR + 3.25%, Floor 0.50%), 3/23/28(12)

     6,608        6,600,177  

Uber Technologies, Inc.:

 

  

Term Loan, 3.592%, (1 mo. USD LIBOR + 3.50%), 4/4/25

     33,823        33,749,254  

Term Loan, 3.592%, (1 mo. USD LIBOR + 3.50%), 2/25/27

     25,056        24,989,835  

Ultimate Software Group, Inc. (The):

 

  

Term Loan, 3.842%, (1 mo. USD LIBOR + 3.75%), 5/4/26

     23,161        23,185,437  

Term Loan, 4.00%, (3 mo. USD LIBOR + 3.25%, Floor 0.75%), 5/4/26

     37,560        37,591,045  

Term Loan - Second Lien, 7.50%, (3 mo. USD LIBOR + 6.75%, Floor 0.75%), 5/3/27

     2,000        2,038,750  

Ultra Clean Holdings, Inc., Term Loan, 3.842%, (1 mo. USD LIBOR + 3.75%), 8/27/25

     15,119        15,157,174  

Valkyr Purchaser, LLC, Term Loan, 4.75%, (3 mo. USD LIBOR + 4.00%, Floor 0.75%), 10/29/27

     6,185        6,192,231  

Verifone Systems, Inc., Term Loan, 4.147%, (3 mo. USD LIBOR + 4.00%), 8/20/25

     13,945        13,635,459  

Verisure Holding AB, Term Loan, 3.50%, (3 mo. EURIBOR + 3.50%), 3/27/28

   EUR 15,450        18,245,942  

Veritas US, Inc., Term Loan, 6.00%, (3 mo. USD LIBOR + 5.00%, Floor 1.00%), 9/1/25

     19,232        19,421,113  

Vision Solutions, Inc., Term Loan, 5.00%, (3 mo. USD LIBOR + 4.25%, Floor 0.75%), 4/24/28

     20,800        20,731,755  

VS Buyer, LLC, Term Loan, 3.092%, (1 mo. USD LIBOR + 3.00%), 2/28/27

     21,739        21,603,395  

Vungle, Inc., Term Loan, 5.592%, (1 mo. USD LIBOR + 5.50%), 9/30/26

     6,386        6,414,190  

Weld North Education, LLC, Term Loan, 4.75%, (1 mo. USD LIBOR + 4.00%, Floor 0.75%), 12/21/27

     3,980        3,983,980  

Zebra Buyer, LLC, Term Loan, 4/21/28(14)

     1,200        1,201,750  
     

 

 

 
      $ 1,387,423,132  
     

 

 

 

Equipment Leasing — 0.7%

 

Avolon TLB Borrower 1 (US), LLC:

 

  

Term Loan, 2.50%, (1 mo. USD LIBOR + 1.75%, Floor 0.75%), 1/15/25

     29,082      $ 28,999,975  

Term Loan, 3.25%, (1 mo. USD LIBOR + 2.50%, Floor 0.75%), 12/1/27

     12,860        12,874,843  

Boels Topholding B.V., Term Loan, 3.25%, (3 mo. EURIBOR + 3.25%), 2/5/27

   EUR 7,750        9,135,055  

Fly Funding II S.a.r.l., Term Loan, 7.00%, (3 mo. USD LIBOR + 6.00%, Floor 1.00%), 10/8/25

     8,374        8,436,553  
     

 

 

 
      $ 59,446,426  
     

 

 

 

Financial Intermediaries — 2.6%

 

Aretec Group, Inc., Term Loan, 4.342%, (1 mo. USD LIBOR + 4.25%), 10/1/25

     18,707      $ 18,652,250  

Citco Funding, LLC, Term Loan, 2.703%, (3 mo. USD LIBOR + 2.50%), 9/28/23

     14,854        14,812,205  

CoreLogic, Inc., Term Loan, 4.00%, (1 mo. USD LIBOR + 3.50%, Floor 0.50%), 6/2/28

     48,325        48,155,862  

Ditech Holding Corporation, Term Loan, 0.00%, 6/30/22(16)

     22,620        4,524,003  

Edelman Financial Center, LLC, Term Loan, 4.25%, (1 mo. USD LIBOR + 3.50%, Floor 0.75%), 4/7/28

     15,507        15,487,874  

EIG Management Company, LLC, Term Loan, 4.50%, (1 mo. USD LIBOR + 3.75%, Floor 0.75%), 2/22/25

     2,927        2,921,809  

FinCo I, LLC, Term Loan, 2.592%, (1 mo. USD LIBOR + 2.50%), 6/27/25

     11,675        11,587,470  
Focus Financial Partners, LLC:

 

  

Term Loan, 2.092%, (1 mo. USD LIBOR + 2.00%), 7/3/24

     13,145        12,991,914  

Term Loan, 0.50%, 6/24/28(13)

     1,894        1,876,786  

Term Loan, 3.00%, (1 mo. USD LIBOR + 2.50%, Floor 0.50%), 7/1/28

     8,206        8,132,738  

 

21

 

 


                                                 
Borrower/Description   

Principal

Amount*
(000’s omitted)

     Value  

Franklin Square Holdings, L.P., Term Loan, 2.375%, (1 mo. USD LIBOR + 2.25%), 8/1/25

     6,346      $ 6,301,921  
GreenSky Holdings, LLC:

 

  

Term Loan, 3.375%, (1 mo. USD LIBOR + 3.25%), 3/31/25

     12,946        12,719,057  

Term Loan, 5.50%, (1 mo. USD LIBOR + 4.50%, Floor 1.00%), 3/29/25

     3,713        3,703,219  

Guggenheim Partners, LLC, Term Loan, 3.50%, (1 mo. USD LIBOR + 2.75%, Floor 0.75%), 7/21/23

     24,538        24,525,553  

LPL Holdings, Inc., Term Loan, 1.842%, (1 mo. USD LIBOR + 1.75%), 11/12/26

     16,154        15,936,923  

Victory Capital Holdings, Inc., Term Loan, 2.395%, (3 mo. USD LIBOR + 2.25%), 7/1/26

     7,352        7,280,859  

Virtus Investment Partners, Inc., Term Loan, 3.00%, (6 mo. USD LIBOR + 2.25%, Floor 0.75%), 6/1/24

     4,150        4,154,911  
     

 

 

 
      $ 213,765,354  
     

 

 

 

Food Products — 2.1%

 

Alphabet Holding Company, Inc., Term Loan, 3.592%, (1 mo. USD LIBOR + 3.50%), 9/26/24

     20,482      $ 20,479,598  

Badger Buyer Corp., Term Loan, 4.50%, (1 mo. USD LIBOR + 3.50%, Floor 1.00%), 9/30/24

     4,890        4,788,678  

Froneri International, Ltd., Term Loan, 2.342%, (1 mo. USD LIBOR + 2.25%), 1/29/27

     18,241        17,932,937  
H Food Holdings, LLC:

 

  

Term Loan, 3.78%, (1 mo. USD LIBOR + 3.69%), 5/23/25

     8,559        8,480,961  

Term Loan, 4.092%, (1 mo. USD LIBOR + 4.00%), 5/23/25

     5,606        5,585,227  

HLF Financing S.a.r.l., Term Loan, 2.592%, (1 mo. USD LIBOR + 2.50%), 8/18/25

     10,701        10,639,700  

JBS USA LUX S.A., Term Loan, 2.092%, (1 mo. USD LIBOR + 2.00%), 5/1/26

     52,492        51,999,640  

Nomad Foods Europe Midco Limited, Term Loan, 2.343%, (1 mo. USD LIBOR + 2.25%), 5/15/24

     10,516        10,454,808  

Shearer’s Foods, Inc., Term Loan, 4.25%, (3 mo. USD LIBOR + 3.50%, Floor 0.75%), 9/23/27

     2,903        2,906,365  

Simply Good Foods USA, Inc., Term Loan, 4.75%, (1 mo. USD LIBOR + 3.75%, Floor 1.00%), 7/7/24

     2,724        2,740,424  
Sunshine Investments B.V.:

 

  

Term Loan, 3.00%, (3 mo. EURIBOR + 3.00%), 3/28/25

   EUR 10,618        12,521,673  

Term Loan, 3.838%, (3 mo. GBP LIBOR + 3.75%), 3/28/25

   GBP 2,000        2,770,010  

UTZ Quality Foods, LLC, Term Loan, 3.092%, (1 mo. USD LIBOR + 3.00%), 1/20/28

     2,067        2,059,153  
Valeo F1 Company Limited (Ireland):

 

  

Term Loan, 3.50%, (6 mo. EURIBOR + 3.50%), 8/27/27

   EUR 6,725        7,972,542  

Term Loan, 5.584%, (3 mo. GBP LIBOR + 5.50%), 8/27/27

   GBP 2,500        3,475,002  

Wsof I New Finco B.V., Term Loan, 3.25%, (6 mo. EURIBOR + 3.25%), 4/23/28

   EUR 5,900        6,955,129  
     

 

 

 
      $ 171,761,847  
     

 

 

 

Food Service — 0.8%

 

1011778 B.C. Unlimited Liability Company, Term Loan, 1.842%, (1 mo. USD LIBOR + 1.75%), 11/19/26

     35,034      $ 34,456,451  

 

22

 

 


                                                 
Borrower/Description   

Principal

Amount*
(000’s omitted)

     Value  
IRB Holding Corp.:

 

  

Term Loan, 3.75%, (3 mo. USD LIBOR + 2.75%, Floor 1.00%), 2/5/25

     3      $ 2,526  

Term Loan, 4.25%, (3 mo. USD LIBOR + 3.25%, Floor 1.00%), 12/15/27

     25,024        24,972,850  

Sovos Brands Intermediate, Inc., Term Loan, 5.00%, (3 mo. USD LIBOR + 4.25%, Floor 0.75%), 6/8/28

     6,175        6,182,719  
     

 

 

 
      $ 65,614,546  
     

 

 

 

Food/Drug Retailers — 0.2%

 

L1R HB Finance Limited:

 

  

Term Loan, 4.25%, (3 mo. EURIBOR + 4.25%), 8/9/24

   EUR 4,674      $ 5,395,824  

Term Loan, 5.329%, (3 mo. GBP LIBOR + 5.25%), 9/2/24

   GBP 9,172        12,326,865  

Murphy USA, Inc., Term Loan, 2.25%, (1 mo. USD LIBOR + 1.75%, Floor 0.50%), 1/31/28

     2,444        2,445,403  
     

 

 

 
      $ 20,168,092  
     

 

 

 

Forest Products — 0.3%

 

Clearwater Paper Corporation, Term Loan, 3.125%, (1 mo. USD LIBOR + 3.00%), 7/26/26

     1,497      $ 1,494,339  

Journey Personal Care Corp., Term Loan, 5.00%, (3 mo. USD LIBOR + 4.25%, Floor 0.75%), 3/1/28

     17,213        17,255,531  

Neenah, Inc., Term Loan, 3.50%, (3 mo. USD LIBOR + 3.00%, Floor 0.50%), 4/6/28

     3,550        3,550,000  
     

 

 

 
      $ 22,299,870  
     

 

 

 

Health Care — 8.4%

 

ADMI Corp., Term Loan, 4.00%, (1 mo. USD LIBOR + 3.50%, Floor 0.50%), 12/23/27

     6,650      $ 6,633,967  

AI Sirona (Luxembourg) Acquisition S.a.r.l., Term Loan, 3.75%, (1 mo. EURIBOR + 3.75%), 9/29/25

   EUR 2,000        2,365,759  
Alliance Healthcare Services, Inc.:

 

  

Term Loan, 5.50%, (1 mo. USD LIBOR + 4.50%, Floor 1.00%), 10/24/23

     8,006        8,015,722  

Term Loan - Second Lien, 12.00%, (1 mo. USD LIBOR + 11.00%, Floor 1.00%), 2.00% cash, 10.00% PIK, 4/24/24

     6,012        6,027,328  

athenahealth, Inc., Term Loan, 4.41%, (3 mo. USD LIBOR + 4.25%), 2/11/26

     22,503        22,536,593  

Avantor Funding, Inc., Term Loan, 2.75%, (1 mo. EURIBOR + 2.75%), 6/12/28

   EUR 19,700        23,359,370  
Avantor, Inc.:

 

  

Term Loan, 2.50%, (1 mo. USD LIBOR + 2.00%, Floor 0.50%), 11/21/24

     3,366        3,355,458  

Term Loan, 2.75%, (1 mo. USD LIBOR + 2.25%, Floor 0.50%), 11/8/27

     2,811        2,802,091  

Bayou Intermediate II, LLC, Term Loan, 5/13/28(14)

     7,300        7,327,375  

Biogroup-LCD, Term Loan, 3.50%, (6 mo. EURIBOR + 3.50%), 1/28/28

   EUR 1,650        1,945,323  

BW NHHC Holdco, Inc., Term Loan, 5.155%, (3 mo. USD LIBOR + 5.00%), 5/15/25

     13,897        12,776,881  

CAB, Term Loan, 2/9/28(14)

   EUR 7,150        8,462,600  

Cano Health, LLC, Term Loan, 5.25%, (6 mo. USD LIBOR + 4.50%, Floor 0.75%), 11/19/27

     6,467        6,475,143  

CCRR Parent, Inc., Term Loan, 5.00%, (3 mo. USD LIBOR + 4.25%, Floor 0.75%), 3/6/28

     3,890        3,909,701  

CeramTec AcquiCo GmbH, Term Loan, 2.50%, (3 mo. EURIBOR + 2.50%), 3/7/25

   EUR 16,970        19,918,264  

Cerba Healthcare S.A.S., Term Loan, 3.75%, (3 mo. EURIBOR + 3.75%), 5/24/28

   EUR 12,725        15,094,089  

Certara L.P., Term Loan, 3.592%, (1 mo. USD LIBOR + 3.50%), 8/15/26

     1,850        1,846,531  

CryoLife, Inc., Term Loan, 4.50%, (3 mo. USD LIBOR + 3.50%, Floor 1.00%), 6/1/27

     6,801        6,806,858  

Dedalus Finance GmbH, Term Loan, 3.75%, (3 mo. EURIBOR + 3.75%), 5/4/27

   EUR 16,850        20,000,796  

Elsan S.A.S., Term Loan, 3.50%, (3 mo. EURIBOR + 3.50%), 6/16/28

   EUR 4,100        4,852,568  

 

23

 

 


                                                 
Borrower/Description   

Principal

Amount*
(000’s omitted)

     Value  

Ensemble RCM, LLC, Term Loan, 3.879%, (3 mo. USD LIBOR + 3.75%), 8/3/26

     11,652      $ 11,656,838  

Envision Healthcare Corporation, Term Loan, 3.842%, (1 mo. USD LIBOR + 3.75%), 10/10/25

     47,425        40,688,994  

eResearchTechnology, Inc., Term Loan, 5.50%, (1 mo. USD LIBOR + 4.50%, Floor 1.00%), 2/4/27

     2,194        2,203,144  

Gentiva Health Services, Inc., Term Loan, 2.875%, (1 mo. USD LIBOR + 2.75%), 7/2/25

     21,203        21,150,447  

GHX Ultimate Parent Corporation, Term Loan, 4.00%, (3 mo. USD LIBOR + 3.00%, Floor 1.00%), 6/28/24

     9,018        8,984,611  

Greatbatch, Ltd., Term Loan, 3.50%, (1 mo. USD LIBOR + 2.50%, Floor 1.00%), 10/27/22

     4,042        4,042,763  

Hanger, Inc., Term Loan, 3.592%, (1 mo. USD LIBOR + 3.50%), 3/6/25

     11,755        11,764,917  

HCRX Investments Holdco, L.P., Term Loan, 7/14/28(14)

     9,925        9,898,639  

ICON Luxembourg S.a.r.l.:

 

  

Term Loan, 7/3/28(14)

     748        747,181  

Term Loan, 7/3/28(14)

     3,002        2,998,912  

Inovalon Holdings, Inc., Term Loan, 2.875%, (1 mo. USD LIBOR + 2.75%), 4/2/25

     11,917        11,846,403  

IQVIA, Inc.:

 

  

Term Loan, 1.842%, (1 mo. USD LIBOR + 1.75%), 3/7/24

     9,993        9,907,192  

Term Loan, 1.842%, (1 mo. USD LIBOR + 1.75%), 1/17/25

     13,433        13,316,718  

IVC Acquisition Ltd.:

 

  

Term Loan, 3.75%, (3 mo. EURIBOR + 3.75%), 2/13/26

   EUR 6,225        7,376,900  

Term Loan, 4.669%, (3 mo. GBP SONIA + 4.62%), 2/13/26

   GBP 950        1,323,390  

Medical Solutions, LLC, Term Loan, 5.50%, (1 mo. USD LIBOR + 4.50%, Floor 1.00%), 6/14/24

     12,074        12,111,857  

Mehilainen Yhtiot Oy, Term Loan, 3.625%, (3 mo. EURIBOR + 3.625%), 8/11/25

   EUR 5,525        6,540,566  

Midwest Physician Administrative Services, LLC, Term Loan, 3.75%, (3 mo. USD LIBOR + 3.00%, Floor 0.75%), 3/12/28

     4,115        4,092,184  

MPH Acquisition Holdings, LLC, Term Loan, 3.75%, (3 mo. USD LIBOR + 2.75%, Floor 1.00%), 6/7/23

     23,309        23,177,550  

National Mentor Holdings, Inc.:

 

  

Term Loan, 3.75%, 3/2/28(13)

     714        714,247  

Term Loan, 4.50%, (USD LIBOR + 3.75%, Floor 0.75%), 2/18/28(12)

     15,390        15,385,391  

Term Loan, 4.50%, (3 mo. USD LIBOR + 3.75%, Floor 0.75%), 3/2/28

     485        484,564  

Term Loan - Second Lien, 8.25%, (3 mo. USD LIBOR + 7.25%, Floor 1.00%), 3/2/29

     5,525        5,649,313  

Navicure, Inc., Term Loan, 4.092%, (1 mo. USD LIBOR + 4.00%), 10/22/26

     11,398        11,390,751  

Ortho-Clinical Diagnostics S.A., Term Loan, 3.101%, (1 mo. USD LIBOR + 3.00%), 6/30/25

     12,966        12,932,367  

Pacific Dental Services, LLC, Term Loan, 4.25%, (1 mo. USD LIBOR + 3.50%, Floor 0.75%), 5/5/28

     4,825        4,842,090  

Padagis, LLC, Term Loan, 5.25%, (3 mo. USD LIBOR + 4.75%, Floor 0.50%), 7/6/28

     8,425        8,451,328  

Parexel International Corporation, Term Loan, 2.842%, (1 mo. USD LIBOR + 2.75%), 9/27/24

     3,150        3,143,665  

PetVet Care Centers, LLC, Term Loan, 4.25%, (1 mo. USD LIBOR + 3.50%, Floor 0.75%), 2/14/25

     1,269        1,266,959  

Phoenix Guarantor, Inc.:

 

  

Term Loan, 3.339%, (1 mo. USD LIBOR + 3.25%), 3/5/26

     19,202        19,014,555  

Term Loan, 3.596%, (1 mo. USD LIBOR + 3.50%), 3/5/26

     10,538        10,477,998  

 

24

 

 


                                                 
Borrower/Description   

Principal

Amount*
(000’s omitted)

     Value  

Press Ganey Holdings, Inc., Term Loan, 4.50%, (USD LIBOR + 3.75%, Floor 0.75%), 7/24/26(12)

     2,500      $ 2,507,813  

Project Ruby Ultimate Parent Corp., Term Loan, 4.00%, (1 mo. USD LIBOR + 3.25%, Floor 0.75%), 3/3/28

     11,746        11,701,517  

Radiology Partners, Inc., Term Loan, 4.348%, (1 mo. USD LIBOR + 4.25%), 7/9/25

     25,817        25,757,360  

RadNet, Inc., Term Loan, 3.754%, (USD LIBOR + 3.00%, Floor 0.75%), 4/22/28(12)

     13,425        13,383,047  

Ramsay Generale de Sante S.A., Term Loan, 2.75%, (3 mo. EURIBOR + 2.75%), 4/22/27

   EUR 9,100        10,767,883  

Select Medical Corporation, Term Loan, 2.35%, (1 mo. USD LIBOR + 2.25%), 3/6/25

     27,023        26,701,695  

Signify Health, LLC, Term Loan, 3.75%, (3 mo. USD LIBOR + 3.25%, Floor 0.50%), 6/16/28

     3,375        3,362,344  

Sotera Health Holdings, LLC, Term Loan, 3.25%, (3 mo. USD LIBOR + 2.75%, Floor 0.50%), 12/11/26

     13,328        13,272,602  

Sound Inpatient Physicians, Term Loan, 3.50%, (1 mo. USD LIBOR + 3.00%, Floor 0.50%), 6/27/25

     2,375        2,366,835  

Sunshine Luxembourg VII S.a.r.l., Term Loan, 4.50%, (3 mo. USD LIBOR + 3.75%, Floor 0.75%), 10/1/26

     13,416        13,453,109  

Surgery Center Holdings, Inc., Term Loan, 4.50%, (1 mo. USD LIBOR + 3.75%, Floor 0.75%), 8/31/26

     22,390        22,415,991  

Synlab Bondco PLC, Term Loan, 2.50%, (6 mo. EURIBOR + 2.50%), 7/1/27

   EUR 2,125        2,499,709  

Team Health Holdings, Inc., Term Loan, 3.75%, (1 mo. USD LIBOR + 2.75%, Floor 1.00%), 2/6/24

     7,162        6,941,417  

U.S. Anesthesia Partners, Inc., Term Loan, 4.00%, (6 mo. USD LIBOR + 3.00%, Floor 1.00%), 6/23/24

     21,248        21,008,561  

US Radiology Specialists, Inc., Term Loan, 6.25%, (3 mo. USD LIBOR + 5.50%, Floor 0.75%), 12/10/27

     8,657        8,725,034  

Verscend Holding Corp., Term Loan, 4.092%, (1 mo. USD LIBOR + 4.00%), 8/27/25

     27,509        27,509,285  
     

 

 

 
      $ 694,469,053  
     

 

 

 

Home Furnishings — 1.3%

 

ACProducts, Inc., Term Loan, 4.75%, (6 mo. USD LIBOR + 4.25%, Floor 0.50%), 5/5/28

     19,000      $ 18,903,309  
Ai Aqua Merger Sub, Inc.:

 

  

Term Loan, 7/30/28(14)

     510        510,669  

Term Loan, 7/31/28(14)

     4,081        4,085,354  

Conair Holdings, LLC, Term Loan, 4.25%, (3 mo. USD LIBOR + 3.75%, Floor 0.50%), 5/17/28

     19,700        19,666,136  

Mattress Firm, Inc., Term Loan, 6.25%, (6 mo. USD LIBOR + 5.25%, Floor 1.00%), 11/26/27

     10,792        10,994,017  
Serta Simmons Bedding, LLC:

 

  

Term Loan, 8.50%, (1 mo. USD LIBOR + 7.50%, Floor 1.00%), 8/10/23

     13,535        13,687,202  

Term Loan - Second Lien, 8.50%, (1 mo. USD LIBOR + 7.50%, Floor 1.00%), 8/10/23

     44,703        42,495,980  
     

 

 

 
      $ 110,342,667  
     

 

 

 

Industrial Equipment — 3.8%

 

AI Alpine AT Bidco GmbH, Term Loan, 3.25%, (3 mo. EURIBOR + 3.25%), 10/31/25

   EUR 6,125      $ 7,136,033  

Alliance Laundry Systems, LLC, Term Loan, 4.25%, (3 mo. USD LIBOR + 3.50%, Floor 0.75%), 10/8/27

     9,828        9,835,769  

Altra Industrial Motion Corp., Term Loan, 2.092%, (1 mo. USD LIBOR + 2.00%), 10/1/25

     6,682        6,658,516  

 

25

 

 


                                                 
Borrower/Description   

Principal

Amount*
(000’s omitted)

     Value  

American Trailer World Corp., Term Loan, 4.50%, (1 mo. USD LIBOR + 3.75%, Floor 0.75%), 3/3/28

     14,275      $ 14,105,484  

Apex Tool Group, LLC, Term Loan, 6.50%, (1 mo. USD LIBOR + 5.25%, Floor 1.25%), 8/1/24

     16,379        16,457,801  

CFS Brands, LLC, Term Loan, 4.00%, (6 mo. USD LIBOR + 3.00%, Floor 1.00%), 3/20/25

     3,682        3,623,481  
Clark Equipment Company:

 

  

Term Loan, 1.982%, (3 mo. USD LIBOR + 1.84%), 5/18/24

     9,985        9,877,706  

Term Loan, 2.397%, (3 mo. USD LIBOR + 2.25%), 5/18/24

     4,738        4,726,280  

CPM Holdings, Inc., Term Loan, 3.60%, (1 mo. USD LIBOR + 3.50%), 11/17/25

     3,216        3,198,320  

Delachaux Group S.A., Term Loan, 4.629%, (3 mo. USD LIBOR + 4.50%), 4/16/26

     4,998        4,987,589  
DexKo Global, Inc.:

 

  

Term Loan, 3.75%, (1 mo. EURIBOR + 3.75%), 7/24/24

   EUR 2,621        3,108,060  

Term Loan, 3.75%, (1 mo. EURIBOR + 3.75%), 7/24/24

   EUR 6,553        7,770,194  

Term Loan, 4.50%, (1 mo. USD LIBOR + 3.50%, Floor 1.00%), 7/24/24

     9,112        9,112,019  

DXP Enterprises, Inc., Term Loan, 5.75%, (1 mo. USD LIBOR + 4.75%, Floor 1.00%), 12/16/27

     4,279        4,299,893  
Dynacast International, LLC:

 

  

Term Loan, 5.75%, (3 mo. USD LIBOR + 4.75%, Floor 1.00%), 7/19/25

     9,564        9,563,967  

Term Loan, 10.25%, (3 mo. USD LIBOR + 9.25%, Floor 1.00%), 10/25/25

     3,104        3,220,207  
Engineered Machinery Holdings, Inc.:

 

  

Term Loan, 3.75%, (3 mo. EURIBOR + 3.75%), 5/5/28

   EUR 10,875        12,892,400  

Term Loan, 4.25%, (3 mo. USD LIBOR + 3.25%, Floor 1.00%), 7/19/24

     11,243        11,243,845  

Term Loan, 5.25%, (3 mo. USD LIBOR + 4.25%, Floor 1.00%), 7/19/24

     2,530        2,538,007  

EWT Holdings III Corp., Term Loan, 2.625%, (1 mo. USD LIBOR + 2.50%), 4/1/28

     8,600        8,527,433  
Filtration Group Corporation:

 

  

Term Loan, 3.092%, (1 mo. USD LIBOR + 3.00%), 3/29/25

     6,481        6,422,209  

Term Loan, 3.50%, (3 mo. EURIBOR + 3.50%), 3/29/25

   EUR 2,983        3,518,360  

Term Loan, 4.50%, (1 mo. USD LIBOR + 3.75%, Floor 0.75%), 3/29/25

     2,506        2,512,067  

GrafTech Finance, Inc., Term Loan, 3.50%, (1 mo. USD LIBOR + 3.00%, Floor 0.50%), 2/12/25

     5,746        5,756,503  

Granite Holdings US Acquisition Co., Term Loan, 4.147%, (3 mo. USD LIBOR + 4.00%), 9/30/26

     14,508        14,503,502  

Harsco Corporation, Term Loan, 2.75%, (1 mo. USD LIBOR + 2.25%, Floor 0.50%), 3/5/28

     3,450        3,421,251  

Hayward Industries, Inc., Term Loan, 3.25%, (1 mo. USD LIBOR + 2.75%, Floor 0.50%), 5/12/28

     7,500        7,443,750  
LTI Holdings, Inc.:

 

  

Term Loan, 2.375%, 7/24/26(13)

     1,922        1,919,473  

Term Loan, 3.592%, (1 mo. USD LIBOR + 3.50%), 9/6/25

     5,738        5,640,925  

Term Loan, 4.842%, (1 mo. USD LIBOR + 4.75%), 7/24/26

     2,063        2,061,960  

Term Loan, 4.842%, (1 mo. USD LIBOR + 4.75%), 7/24/26

     3,203        3,199,121  

Madison IAQ, LLC, Term Loan, 3.75%, (3 mo. USD LIBOR + 3.25%, Floor 0.50%), 6/21/28

     21,225        21,074,663  

Minimax Viking GmbH, Term Loan, 2.75%, (1 mo. EURIBOR + 2.75%), 7/31/25

   EUR 1,875        2,214,788  

Quimper AB, Term Loan, 3.50%, (3 mo. EURIBOR + 3.50%), 2/16/26

   EUR 20,175        23,759,742  

Robertshaw US Holding Corp., Term Loan, 4.50%, (1 mo. USD LIBOR + 3.50%, Floor 1.00%), 2/28/25

     17,207        16,590,558  

 

26

 

 


                                                 
Borrower/Description   

Principal

Amount*
(000’s omitted)

     Value  

SiteOne Landscape Supply, LLC, Term Loan, 2.50%, (1 mo. USD LIBOR + 2.00%, Floor 0.50%), 3/23/28

     4,389      $ 4,356,083  

Tiger Acquisition, LLC, Term Loan, 3.75%, (3 mo. USD LIBOR + 3.25%, Floor 0.50%), 6/1/28

     4,975        4,943,906  

Titan Acquisition Limited, Term Loan, 3.167%, (6 mo. USD LIBOR + 3.00%), 3/28/25

     20,727        20,317,236  

Vertical Midco GmbH, Term Loan, 4.404%, (6 mo. USD LIBOR + 4.25%), 7/30/27

     4,040        4,049,975  

Vertical US Newco, Inc., Term Loan, 7/29/27(14)

     1,000        999,196  

Welbilt, Inc., Term Loan, 2.592%, (1 mo. USD LIBOR + 2.50%), 10/23/25

     1,000        993,125  

Zephyr German BidCo GmbH, Term Loan, 3.75%, (2 mo. EURIBOR + 3.75%), 3/10/28

   EUR 4,275        5,075,177  
     

 

 

 
      $ 313,656,574  
     

 

 

 

Insurance — 1.9%

 

Alliant Holdings Intermediate, LLC:

 

  

Term Loan, 3.342%, (1 mo. USD LIBOR + 3.25%), 5/9/25

     4,827      $ 4,772,202  

Term Loan, 3.342%, (1 mo. USD LIBOR + 3.25%), 5/9/25

     5,908        5,841,185  

AmWINS Group, Inc., Term Loan, 3.00%, (1 mo. USD LIBOR + 2.25%, Floor 0.75%), 2/19/28

     31,467        31,037,006  

AssuredPartners, Inc., Term Loan, 3.592%, (1 mo. USD LIBOR + 3.50%), 2/12/27

     9,018        8,926,337  
Asurion, LLC:

 

  

Term Loan, 3.092%, (1 mo. USD LIBOR + 3.00%), 11/3/24

     2,183        2,149,762  

Term Loan, 3.217%, (1 mo. USD LIBOR + 3.13%), 11/3/23

     14,909        14,774,086  

Term Loan, 3.342%, (1 mo. USD LIBOR + 3.25%), 12/23/26

     3,483        3,423,423  

Term Loan, 3.342%, (1 mo. USD LIBOR + 3.25%), 7/31/27

     11,870        11,673,655  

Term Loan - Second Lien, 5.342%, (1 mo. USD LIBOR + 5.25%), 1/31/28

     14,540        14,488,499  

Financiere CEP S.A.S., Term Loan, 4.00%, (3 mo. EURIBOR + 4.00%), 6/18/27

   EUR 4,125        4,907,553  

FrontDoor, Inc., Term Loan, 2.342%, (1 mo. USD LIBOR + 2.25%), 6/17/28

     875        875,273  

Hub International Limited, Term Loan, 2.875%, (3 mo. USD LIBOR + 2.75%), 4/25/25

     15,372        15,163,310  

NFP Corp., Term Loan, 3.342%, (1 mo. USD LIBOR + 3.25%), 2/15/27

     25,791        25,368,731  
USI, Inc.:

 

  

Term Loan, 3.147%, (3 mo. USD LIBOR + 3.00%), 5/16/24

     6,466        6,403,762  

Term Loan, 3.397%, (3 mo. USD LIBOR + 3.25%), 12/2/26

     3,467        3,433,337  
     

 

 

 
      $ 153,238,121  
     

 

 

 

Leisure Goods/Activities/Movies — 3.1%

 

AMC Entertainment Holdings, Inc., Term Loan, 3.103%, (1 mo. USD LIBOR + 3.00%), 4/22/26

     7,724      $ 6,884,311  

Amer Sports Oyj, Term Loan, 4.50%, (6 mo. EURIBOR + 4.50%), 3/30/26

   EUR 11,925        14,181,390  

Bombardier Recreational Products, Inc., Term Loan, 2.092%, (1 mo. USD LIBOR + 2.00%), 5/24/27

     44,164        43,602,576  
Carnival Corporation:

 

  

Term Loan, 3.75%, (1 mo. EURIBOR + 3.75%), 6/30/25

   EUR 2,918        3,468,612  

Term Loan, 3.75%, (6 mo. USD LIBOR + 3.00%, Floor 0.75%), 6/30/25

     3,765        3,745,489  

City Football Group Limited, Term Loan, 4.00%, (3 mo. USD LIBOR + 3.50%, Floor 0.50%), 7/21/28

     14,300        14,264,250  

ClubCorp Holdings, Inc., Term Loan, 2.897%, (3 mo. USD LIBOR + 2.75%), 9/18/24

     17,838        16,878,908  
Crown Finance US, Inc.:

 

  

Term Loan, 2.625%, (6 mo. EURIBOR + 2.625%), 2/28/25

   EUR 4,017        3,886,125  

Term Loan, 3.50%, (6 mo. USD LIBOR + 2.50%, Floor 1.00%), 2/28/25

     10,253        8,372,470  

 

27

 

 


                                                 
Borrower/Description   

Principal

Amount*
(000’s omitted)

     Value  

Term Loan, 15.25%, 7.00% cash, 8.25% PIK, 5/23/24(15)

     5,871      $ 7,280,161  

Term Loan, 5/23/24(14)

     2,800        2,694,830  

Delta 2 (LUX) S.a.r.l., Term Loan, 3.50%, (1 mo. USD LIBOR + 2.50%, Floor 1.00%), 2/1/24

     23,406        23,250,253  

Etraveli Holding AB, Term Loan, 4.50%, (6 mo. EURIBOR + 4.50%), 8/2/24

   EUR 7,950        9,187,060  
Lindblad Expeditions, Inc.:

 

  

Term Loan, 6.00%, (1 mo. USD LIBOR + 5.25%, Floor 0.75%), 4.75% cash, 1.25% PIK, 3/27/25

     479        466,833  

Term Loan, 6.00%, (1 mo. USD LIBOR + 5.25%, Floor 0.75%), 4.75% cash, 1.25% PIK, 3/27/25

     1,915        1,867,330  

Live Nation Entertainment, Inc., Term Loan, 1.875%, (1 mo. USD LIBOR + 1.75%), 10/17/26

     15,830        15,417,877  

Match Group, Inc., Term Loan, 1.906%, (3 mo. USD LIBOR + 1.75%), 2/13/27

     6,450        6,353,250  

Playtika Holding Corp., Term Loan, 2.842%, (1 mo. USD LIBOR + 2.75%), 3/13/28

     21,554        21,433,995  

SeaWorld Parks & Entertainment, Inc., Term Loan, 3.75%, (1 mo. USD LIBOR + 3.00%, Floor 0.75%), 3/31/24

     4,974        4,940,128  

SRAM, LLC, Term Loan, 3.25%, (USD LIBOR + 2.75%, Floor 0.50%), 5/12/28(12)

     2,798        2,790,020  

Steinway Musical Instruments, Inc., Term Loan, 4.75%, (1 mo. USD LIBOR + 3.75%, Floor 1.00%), 2/14/25

     1,356        1,345,812  

Topps Company, Inc. (The), Term Loan, 7/7/28(14)

     5,700        5,653,688  

Travel Leaders Group, LLC, Term Loan, 4.092%, (1 mo. USD LIBOR + 4.00%), 1/25/24

     15,192        14,216,949  

UFC Holdings, LLC, Term Loan, 3.50%, (6 mo. USD LIBOR + 2.75%, Floor 0.75%), 4/29/26

     21,732        21,622,994  

Vue International Bidco PLC, Term Loan, 4.75%, (6 mo. EURIBOR + 4.75%), 7/3/26

   EUR 3,878        4,264,170  

WMG Acquisition Corp., Term Loan, 2.217%, (1 mo. USD LIBOR + 2.13%), 1/20/28

     500        494,453  
     

 

 

 
      $ 258,563,934  
     

 

 

 

Lodging and Casinos — 1.9%

 

Aristocrat Technologies, Inc., Term Loan, 1.884%, (3 mo. USD LIBOR + 1.75%), 10/19/24

     7,466      $ 7,393,636  

Boyd Gaming Corporation, Term Loan, 2.334%, (1 week USD LIBOR + 2.25%), 9/15/23

     2,038        2,034,973  

Churchill Downs Incorporated, Term Loan, 2.10%, (1 mo. USD LIBOR + 2.00%), 12/27/24

     3,378        3,356,391  

CityCenter Holdings, LLC, Term Loan, 3.00%, (1 mo. USD LIBOR + 2.25%, Floor 0.75%), 4/18/24

     5,709        5,698,766  

Four Seasons Hotels Limited, Term Loan, 2.092%, (1 mo. USD LIBOR + 2.00%), 11/30/23

     4,606        4,580,649  
Golden Nugget, Inc.:

 

  

Term Loan, 3.25%, (2 mo. USD LIBOR + 2.50%, Floor 0.75%), 10/4/23

     23,065        22,856,203  

Term Loan, 13.00%, (3 mo. USD LIBOR + 12.00%, Floor 1.00%), 10/4/23

     1,875        2,081,250  

Great Canadian Gaming Corporation, Term Loan, 11/1/26(14)

     5,575        5,580,229  

GVC Holdings PLC, Term Loan, 2.25%, (6 mo. EURIBOR + 2.25%), 3/29/24

   EUR 21,225        24,989,309  

Hilton Grand Vacations Borrower, LLC, Term Loan, 5/19/28(14)

     9,125        9,106,750  

Oravel Stays Singapore Pte. Ltd., Term Loan, 9.00%, (3 mo. USD LIBOR + 8.25%, Floor 0.75%), 6/23/26

     5,475        5,608,453  

 

28

 

 


                                                 
Borrower/Description   

Principal

Amount*
(000’s omitted)

     Value  

Playa Resorts Holding B.V., Term Loan, 3.75%, (1 mo. USD LIBOR + 2.75%, Floor 1.00%), 4/29/24

     19,925      $ 19,193,417  

Sportradar Capital S.a.r.l., Term Loan, 4.25%, (6 mo. EURIBOR + 4.25%), 11/22/27

   EUR 3,550        4,226,102  
Stars Group Holdings B.V. (The):

 

  

Term Loan, 2.368%, (3 mo. USD LIBOR + 2.25%), 7/21/26

     24,125        23,966,692  

Term Loan, 7/21/26(14)

   EUR 11,225        13,309,712  
     

 

 

 
      $ 153,982,532  
     

 

 

 

Nonferrous Metals/Minerals — 0.4%

 

American Consolidated Natural Resources, Inc., Term Loan, 17.00%, (3 mo. USD LIBOR + 16.00%, Floor 1.00%), 14.00% cash, 3.00% PIK, 9/16/25

     4,639      $ 4,708,831  

Oxbow Carbon, LLC, Term Loan, 5.00%, (1 mo. USD LIBOR + 4.25%, Floor 0.75%), 10/13/25

     5,381        5,394,197  

Rain Carbon GmbH, Term Loan, 3.00%, (6 mo. EURIBOR + 3.00%), 1/16/25

   EUR 15,625        18,361,381  
     

 

 

 
      $ 28,464,409  
     

 

 

 

Oil and Gas — 2.1%

 

Ameriforge Group, Inc.:

 

  

Term Loan, 12.553%, (USD LIBOR + 13.00%, Floor 1.00%), 12/31/23(12)(13)

     2,910      $ 1,547,654  

Term Loan, 14.00%, (3 mo. USD LIBOR + 13.00%, Floor 1.00%), 9.00% cash, 5.00% PIK, 12/31/23

     22,866        12,161,962  
Apergy Corporation:

 

  

Term Loan, 2.625%, (1 mo. USD LIBOR + 2.50%), 5/9/25

     328        327,454  

Term Loan, 6.00%, (3 mo. USD LIBOR + 5.00%, Floor 1.00%), 6/3/27

     1,615        1,646,291  

Buckeye Partners L.P., Term Loan, 2.354%, (1 mo. USD LIBOR + 2.25%), 11/1/26

     13,429        13,314,560  
Centurion Pipeline Company, LLC:

 

  

Term Loan, 3.342%, (1 mo. USD LIBOR + 3.25%), 9/29/25

     3,144        3,100,159  

Term Loan, 4.092%, (1 mo. USD LIBOR + 4.00%), 9/28/25

     1,642        1,613,019  

CITGO Holding, Inc., Term Loan, 8.00%, (6 mo. USD LIBOR + 7.00%, Floor 1.00%), 8/1/23

     2,530        2,509,382  

CITGO Petroleum Corporation, Term Loan, 7.25%, (6 mo. USD LIBOR + 6.25%, Floor 1.00%), 3/28/24

     22,962        23,066,146  

CQP Holdco L.P., Term Loan, 6/5/28(14)

     19,100        19,014,050  
Delek US Holdings, Inc.:

 

  

Term Loan, 2.342%, (1 mo. USD LIBOR + 2.25%), 3/31/25

     3,390        3,320,187  

Term Loan, 6.50%, (1 mo. USD LIBOR + 5.50%, Floor 1.00%), 3/31/25

     5,812        5,838,958  
Fieldwood Energy, LLC:

 

  

DIP Loan, 3.675%, (1 mo. USD LIBOR + 8.75%, Floor 1.00%), 9/30/21(13)

     3,000        3,044,803  

Term Loan, 0.00%, 4/11/22(16)

     20,306        11,024,257  

Gulf Finance, LLC, Term Loan, 6.25%, (1 mo. USD LIBOR + 5.25%, Floor 1.00%), 8/25/23

     1,995        1,679,204  

ITT Holdings, LLC, Term Loan, 3.25%, (1 mo. USD LIBOR + 2.75%, Floor 0.50%), 7/30/28

     4,200        4,200,000  

Lealand Finance Company B.V., Term Loan, 4.092%, (1 mo. USD LIBOR + 4.00%), 1.092% cash, 3.00% PIK, 6/30/25

     2,351        1,056,671  

Matador Bidco S.a.r.l., Term Loan, 4.842%, (1 mo. USD LIBOR + 4.75%), 10/15/26

     26,598        26,647,546  

 

29

 

 


                                                 
Borrower/Description   

Principal

Amount*
(000’s omitted)

     Value  

McDermott Technology Americas, Inc., DIP Letter of Credit, 4.475%, 6/28/24(13)

     9,039      $ 7,005,511  

Prairie ECI Acquiror L.P., Term Loan, 4.842%, (1 mo. USD LIBOR + 4.75%), 3/11/26

     6,382        6,211,879  

PSC Industrial Holdings Corp., Term Loan, 4.75%, (1 mo. USD LIBOR + 3.75%, Floor 1.00%), 10/11/24

     7,832        7,785,006  

RDV Resources Properties, LLC, Term Loan, 9.50%, (1 mo. USD LIBOR + 8.50%, Floor 1.00%), 3/29/24

     6,166        3,792,282  
Sunrise Oil & Gas Properties, LLC:

 

  

Term Loan, 8.00%, (1 mo. USD LIBOR + 7.00%, Floor 1.00%), 1/17/23

     2,081        2,060,247  

Term Loan - Second Lien, 8.00%, (1 mo. USD LIBOR + 7.00%, Floor 1.00%), 1/17/23

     2,196        2,141,457  

Term Loan - Third Lien, 8.00%, (1 mo. USD LIBOR + 7.00%, Floor 1.00%), 1/17/23

     2,537        2,283,678  

UGI Energy Services, LLC, Term Loan, 3.842%, (1 mo. USD LIBOR + 3.75%), 8/13/26

     10,070        10,104,119  
     

 

 

 
      $ 176,496,482  
     

 

 

 

Publishing — 0.6%

 

Adevinta ASA:

 

  

Term Loan, 4/20/28(14)

     2,175      $ 2,175,679  

Term Loan, 4/20/28(14)

   EUR 8,075        9,575,641  

Alchemy Copyrights, LLC, Term Loan, 3.50%, (1 mo. USD LIBOR + 3.00%, Floor 0.50%), 3/10/28

     3,598        3,593,360  

Ascend Learning, LLC, Term Loan, 4.75%, (1 mo. USD LIBOR + 3.75%, Floor 1.00%), 7/12/24

     4,511        4,521,222  

Axel Springer S.E., Term Loan, 5.00%, (3 mo. EURIBOR + 5.00%), 12/18/26

   EUR 2,000        2,377,441  
Getty Images, Inc.:

 

  

Term Loan, 4.625%, (1 mo. USD LIBOR + 4.50%), 2/19/26

     23,244        23,243,765  

Term Loan, 5.00%, (1 mo. EURIBOR + 5.00%), 2/19/26

   EUR 3,724        4,419,225  

Tweddle Group, Inc., Term Loan, 5.50%, (1 mo. USD LIBOR + 4.50%, Floor 1.00%), 9/17/23

     1,717        1,688,991  
     

 

 

 
      $ 51,595,324  
     

 

 

 

Radio and Television — 1.6%

 

Diamond Sports Group, LLC, Term Loan, 3.35%, (1 mo. USD LIBOR + 3.25%), 8/24/26

     23,420      $ 13,067,566  

Entercom Media Corp., Term Loan, 2.588%, (1 mo. USD LIBOR + 2.50%), 11/18/24

     1,509        1,491,531  

Entravision Communications Corporation, Term Loan, 2.842%, (1 mo. USD LIBOR + 2.75%), 11/29/24

     7,266        7,175,614  

Hubbard Radio, LLC, Term Loan, 5.25%, (1 mo. USD LIBOR + 4.25%, Floor 1.00%), 3/28/25

     7,224        7,207,851  

iHeartCommunications, Inc., Term Loan, 3.092%, (1 mo. USD LIBOR + 3.00%), 5/1/26

     2,365        2,334,633  

Mission Broadcasting, Inc., Term Loan, 2.604%, (1 mo. USD LIBOR + 2.50%), 5/26/28

     3,700        3,668,395  
Nexstar Broadcasting, Inc.:

 

  

Term Loan, 2.337%, (1 mo. USD LIBOR + 2.25%), 1/17/24

     17,582        17,476,391  

Term Loan, 2.60%, (1 mo. USD LIBOR + 2.50%), 9/18/26

     9,508        9,430,596  
Sinclair Television Group, Inc.:

 

  

Term Loan, 2.60%, (1 mo. USD LIBOR + 2.50%), 9/30/26

     6,313        6,227,343  

Term Loan, 3.10%, (1 mo. USD LIBOR + 3.00%), 4/1/28

     23,194        23,041,849  

Terrier Media Buyer, Inc., Term Loan, 3.592%, (1 mo. USD LIBOR + 3.50%), 12/17/26

     19,054        18,881,567  

 

30

 

 


                                                 
Borrower/Description   

Principal

Amount*
(000’s omitted)

     Value  
Univision Communications, Inc.:

 

  

Term Loan, 3.75%, (1 mo. USD LIBOR + 2.75%, Floor 1.00%), 3/15/24

     17,716      $ 17,686,274  

Term Loan, 3/15/26(14)

     1,000        999,732  
     

 

 

 
      $ 128,689,342  
     

 

 

 

Retailers (Except Food and Drug) — 1.3%

 

BJ’s Wholesale Club, Inc., Term Loan, 2.10%, (1 mo. USD LIBOR + 2.00%), 2/3/24

     1,318      $ 1,317,595  

CNT Holdings I Corp., Term Loan, 4.50%, (6 mo. USD LIBOR + 3.75%, Floor 0.75%), 11/8/27

     5,037        5,037,899  
David’s Bridal, Inc.:

 

  

Term Loan, 7.00%, (3 mo. USD LIBOR + 6.00%, Floor 1.00%), 6/30/23

     4,316        3,962,427  

Term Loan, 11.00%, (3 mo. USD LIBOR + 10.00%, Floor 1.00%), 6.00% cash, 5.00% PIK, 6/23/23

     3,701        3,681,976  

Go Wireless, Inc., Term Loan, 7.50%, (1 mo. USD LIBOR + 6.50%, Floor 1.00%), 12/22/24

     5,879        5,886,210  

Great Outdoors Group, LLC, Term Loan, 5.00%, (6 mo. USD LIBOR + 4.25%, Floor 0.75%), 3/6/28

     40,073        40,178,506  

Harbor Freight Tools USA, Inc., Term Loan, 3.25%, (1 mo. USD LIBOR + 2.75%, Floor 0.50%), 10/19/27

     20,750        20,677,306  

Hoya Midco, LLC, Term Loan, 4.50%, (1 mo. USD LIBOR + 3.50%, Floor 1.00%), 6/30/24

     6,977        6,942,584  

PetSmart, Inc., Term Loan, 4.50%, (6 mo. USD LIBOR + 3.75%, Floor 0.75%), 2/12/28

     12,150        12,158,857  

Phillips Feed Service, Inc., Term Loan, 8.00%, (6 mo. USD LIBOR + 7.00%, Floor 1.00%), 11/13/24(6)

     482        385,232  

Pier 1 Imports (U.S.), Inc., Term Loan, 0.00%, 4/30/22(6)(16)

     748        598,488  

Protective Industrial Products, Inc., Term Loan, 4.75%, (1 mo. USD LIBOR + 4.00%, Floor 0.75%), 1/20/28

     8,030        7,989,726  
     

 

 

 
      $ 108,816,806  
     

 

 

 

Steel — 0.4%

 

Atkore International, Inc., Term Loan, 2.50%, (3 mo. USD LIBOR + 2.00%, Floor 0.50%), 5/26/28

     8,225      $ 8,230,141  

Neenah Foundry Company, Term Loan, 10.00%, (2 mo. USD LIBOR + 9.00%, Floor 1.00%), 12/13/22

     3,363        3,110,412  

Phoenix Services International, LLC, Term Loan, 4.75%, (1 mo. USD LIBOR + 3.75%, Floor 1.00%), 3/1/25

     2,641        2,636,006  

TMS International Corp., Term Loan, 3.75%, (USD LIBOR + 2.75%, Floor 1.00%), 8/14/24(12)

     1,791        1,784,284  

Zekelman Industries, Inc., Term Loan, 2.087%, (1 mo. USD LIBOR + 2.00%), 1/24/27

     19,852        19,599,222  
     

 

 

 
      $ 35,360,065  
     

 

 

 

Surface Transport — 0.7%

 

Avis Budget Car Rental, LLC, Term Loan, 2.35%, (1 mo. USD LIBOR + 2.25%), 8/6/27

     7,085      $ 6,939,849  
Hertz Corporation (The):

 

  

Term Loan, 6/14/28(14)

     2,577        2,564,781  

Term Loan, 6/14/28(14)

     13,673        13,609,039  

 

31

 

 


                                                 
Borrower/Description   

Principal

Amount*
(000’s omitted)

     Value  

Kenan Advantage Group, Inc., Term Loan, 4.50%, (1 mo. USD LIBOR + 3.75%, Floor 0.75%), 3/24/26

     22,418      $ 22,455,669  

PODS, LLC, Term Loan, 3.75%, (1 mo. USD LIBOR + 3.00%, Floor 0.75%), 3/31/28

     3,895        3,884,289  

XPO Logistics, Inc., Term Loan, 1.881%, (3 mo. USD LIBOR + 1.75%), 2/24/25

     4,275        4,243,737  
     

 

 

 
      $ 53,697,364  
     

 

 

 

Telecommunications — 2.8%

 

Avaya, Inc., Term Loan, 4.093%, (1 mo. USD LIBOR + 4.00%), 12/15/27

     1,600      $ 1,603,714  

CenturyLink, Inc., Term Loan, 2.342%, (1 mo. USD LIBOR + 2.25%), 3/15/27

     50,665        49,908,686  

Ciena Corporation, Term Loan, 1.834%, (1 mo. USD LIBOR + 1.75%), 9/26/25

     1,899        1,898,596  

Cyxtera DC Holdings, Inc., Term Loan, 4.00%, (6 mo. USD LIBOR + 3.00%, Floor 1.00%), 5/1/24

     16,110        15,821,672  

Digicel International Finance Limited, Term Loan, 3.43%, (6 mo. USD LIBOR + 3.25%), 5/28/24

     14,242        13,609,981  
GEE Holdings 2, LLC:

 

  

Term Loan, 9.00%, (3 mo. USD LIBOR + 8.00%, Floor 1.00%), 3/24/25

     9,639        9,687,313  

Term Loan - Second Lien, 9.25%, (3 mo. USD LIBOR + 8.25%, Floor 1.00%), 2.50% cash, 6.75% PIK, 3/23/26

     6,306        5,769,972  
Intelsat Jackson Holdings S.A.:

 

  

DIP Loan, 6.50%, (3 mo. USD LIBOR + 5.50%, Floor 1.00%), 7/13/22

     9,286        9,376,013  

Term Loan, 8.00%, (USD Prime + 4.75%), 11/27/23

     15,550        15,796,203  

Term Loan, 8.75%, (USD Prime + 5.50%), 1/2/24

     15,794        16,121,782  

IPC Corp., Term Loan, 5.50%, (3 mo. USD LIBOR + 4.50%, Floor 1.00%), 8/6/21

     11,591        11,322,605  

Level 3 Financing, Inc., Term Loan, 1.842%, (1 mo. USD LIBOR + 1.75%), 3/1/27

     1,098        1,075,765  

Onvoy, LLC, Term Loan, 5.50%, (1 mo. USD LIBOR + 4.50%, Floor 1.00%), 2/10/24

     11,879        11,881,257  

Syniverse Holdings, Inc., Term Loan, 6.00%, (3 mo. USD LIBOR + 5.00%, Floor 1.00%), 3/9/23

     11,030        10,917,142  

Zayo Group Holdings, Inc., Term Loan, 3.25%, (1 mo. EURIBOR + 3.25%), 3/9/27

   EUR 3,802        4,462,523  

Ziggo Financing Partnership, Term Loan, 2.593%, (1 mo. USD LIBOR + 2.50%), 4/30/28

     47,575        46,850,242  
     

 

 

 
      $ 226,103,466  
     

 

 

 

Utilities — 0.3%

     

Brookfield WEC Holdings, Inc., Term Loan, 3.25%, (1 mo. USD LIBOR + 2.75%, Floor 0.50%), 8/1/25

     7,698      $ 7,600,214  
Calpine Corporation:      

Term Loan, 2.10%, (1 mo. USD LIBOR + 2.00%), 4/5/26

     4,477        4,406,924  

Term Loan, 2.60%, (1 mo. USD LIBOR + 2.50%), 12/16/27

     10,816        10,721,518  

Longview Power, LLC, Term Loan, 11.50%, (3 mo. USD LIBOR + 10.00%, Floor 1.50%), 7/30/25

     592        602,212  

USIC Holdings, Inc., Term Loan, 5/12/28(14)

     3,750        3,736,406  
     

 

 

 
      $ 27,067,274  
     

 

 

 

Total Senior Floating-Rate Loans
(identified cost $7,108,413,755)

      $ 7,035,512,103  
     

 

 

 

 

32

 

 


                                                 

Warrants — 0.0%(9)

     
Security    Shares      Value  

Health Care — 0.0%(9)

     

THAIHOT Investment Company US Limited, Exp. 10/13/27(6)(7)(8)

     246      $ 247,968  

THAIHOT Investment Company US Limited, Exp. 10/13/27(6)(7)(8)

     1,858        576,909  

THAIHOT Investment Company US Limited, Exp. 10/13/27 (Contingent Warrants)(6)(7)(8)

     117,852        0  
     

 

 

 
      $ 824,877  
     

 

 

 

Leisure Goods/Activities/Movies — 0.0%(9)

     

Cineworld Group PLC, Exp. 11/23/25(7)(8)

     1,791,400      $ 549,553  
     

 

 

 
      $ 549,553  
     

 

 

 

Retailers (Except Food and Drug) — 0.0%

     

David’s Bridal, LLC, Exp. 11/26/22(6)(7)(8)

     51,888      $ 0  
     

 

 

 
      $ 0  
     

 

 

 

Total Warrants
(identified cost $0)

      $ 1,374,430  
     

 

 

 

Miscellaneous — 0.0%

     
Security    Shares      Value  

Oil and Gas — 0.0%

     

Paragon Offshore Finance Company, Class A(6)(7)(8)

     42,177      $ 0  

Paragon Offshore Finance Company, Class B(6)(7)(8)

     21,089        0  
     

 

 

 

Total Miscellaneous
(identified cost $458,684)

      $ 0  
     

 

 

 

Short-Term Investments — 7.7%

     
Description    Units      Value  

Eaton Vance Cash Reserves Fund, LLC, 0.08%(17)

     635,235,606      $ 635,235,606  
     

 

 

 

Total Short-Term Investments
(identified cost $635,235,606)

 

   $ 635,235,606  
     

 

 

 

Total Investments — 104.9%
(identified cost $8,708,800,252)

 

   $ 8,633,987,996  
     

 

 

 

Less Unfunded Loan Commitments — (0.4)%

 

   $ (30,867,897
     

 

 

 

Net Investments — 104.5%
(identified cost $8,677,932,355)

 

   $ 8,603,120,099  
     

 

 

 

Other Assets, Less Liabilities — (4.5)%

 

   $ (369,056,001
     

 

 

 

Net Assets — 100.0%

      $ 8,234,064,098  
     

 

 

 

 

33

 

 


The percentage shown for each investment category in the Portfolio of Investments is based on net assets.

 

*

In U.S. dollars unless otherwise indicated.

 

(1)

Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At July 31, 2021, the aggregate value of these securities is $802,788,334 or 9.7% of the Portfolio’s net assets.

 

(2)

Variable rate security. The stated interest rate represents the rate in effect at July 31, 2021.

 

(3)

When-issued, variable rate security whose interest rate will be determined after July 31, 2021.

 

(4)

Variable rate security whose interest rate will be determined after July 31, 2021.

 

(5)

Affiliated company.

 

(6)

For fair value measurement disclosure purposes, security is categorized as Level 3.

 

(7)

Non-income producing security.

 

(8)

Security was acquired in connection with a restructuring of a Senior Loan and may be subject to restrictions on resale.

 

(9)

Amount is less than 0.05%.

 

(10)

When-issued security.

 

(11)

Senior floating-rate loans (Senior Loans) often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, Senior Loans will typically have an expected average life of approximately two to four years. Senior Loans typically have rates of interest which are redetermined periodically by reference to a base lending rate, plus a spread. These base lending rates are primarily the London Interbank Offered Rate (“LIBOR”) and secondarily, the prime rate offered by one or more major United States banks (the “Prime Rate”). Base lending rates may be subject to a floor, or a minimum rate. Senior Loans are generally subject to contractual restrictions that must be satisfied before they can be bought or sold.

 

(12)

The stated interest rate represents the weighted average interest rate at July 31, 2021 of contracts within the senior loan facility. Interest rates on contracts are primarily redetermined either weekly, monthly or quarterly by reference to the indicated base lending rate and spread and the reset period.

 

(13)

Unfunded or partially unfunded loan commitments. The stated interest rate reflects the weighted average of the reference rate and spread for the funded portion, if any, and the commitment fees on the portion of the loan that is unfunded. At July 31, 2021, the total value of unfunded loan commitments is $28,678,197.

 

(14)

This Senior Loan will settle after July 31, 2021, at which time the interest rate will be determined.

 

(15)

Fixed-rate loan.

 

(16)

Issuer is in default with respect to interest and/or principal payments. For a variable rate security, interest rate has been adjusted to reflect non-accrual status.

 

(17)

Affiliated investment company, available to Eaton Vance portfolios and funds, which invests in high quality, U.S. dollar denominated money market instruments. The rate shown is the annualized seven-day yield as of July 31, 2021.

 

34

 

 


Forward Foreign Currency Exchange Contracts

 

Currency
Purchased
     Currency
Sold
    

Counterparty

   Settlement
Date
     Unrealized
Appreciation
     Unrealized
(Depreciation)
 
EUR      189,409,403      USD      224,601,670      Standard Chartered Bank      8/3/21      $ 85,134      $  
EUR      1,817,848      USD      2,155,495      State Street Bank and Trust Company      8/3/21        926         
USD      7,384,319      EUR      6,225,000      HSBC Bank USA, N.A.      8/3/21               (82
USD      2,479,805      EUR      2,100,000      HSBC Bank USA, N.A.      8/3/21               (11,319
USD      4,251,094      EUR      3,600,000      HSBC Bank USA, N.A.      8/3/21               (19,404
USD      2,142,885      EUR      1,817,848      JPMorgan Chase Bank, N.A.      8/3/21               (13,537
USD      179,568,549      EUR      151,322,560      Standard Chartered Bank      8/3/21        62,242         
USD      15,032,547      EUR      12,693,188      State Street Bank and Trust Company      8/3/21               (24,740
USD      5,762,041      EUR      4,885,062      State Street Bank and Trust Company      8/3/21               (32,862
USD      10,134,706      EUR      8,583,593      State Street Bank and Trust Company      8/3/21               (47,576
USD      208,136,410      EUR      174,228,714      Goldman Sachs International      8/31/21        1,345,970         
USD      12,764,812      EUR      10,520,929      State Street Bank and Trust Company      8/31/21        277,619         
USD      14,714,295      EUR      12,350,000      State Street Bank and Trust Company      8/31/21        56,195         
USD      5,397,963      EUR      4,525,000      State Street Bank and Trust Company      8/31/21        27,283         
USD      1,300,835      EUR      1,100,000      State Street Bank and Trust Company      8/31/21               (4,745
USD      3,776,980      EUR      3,196,000      State Street Bank and Trust Company      8/31/21               (16,323
USD      224,727,318      EUR      189,409,403      Standard Chartered Bank      9/2/21               (89,624
USD      2,156,738      EUR      1,817,848      State Street Bank and Trust Company      9/2/21               (933
USD      230,366,441      EUR      194,078,595      State Street Bank and Trust Company      10/29/21               (254,130
USD      44,280,158      GBP      31,832,755      State Street Bank and Trust Company      10/29/21        24,271         
                 

 

 

    

 

 

 
                  $     1,879,640      $     (515,275
                 

 

 

    

 

 

 

 

Abbreviations:

DIP

  -   Debtor In Possession

EURIBOR

  -   Euro Interbank Offered Rate

LIBOR

  -   London Interbank Offered Rate

PIK

  -   Payment In Kind

SONIA

  -   Sterling Overnight Interbank Average
Currency Abbreviations:

EUR

  -   Euro

GBP

  -   British Pound Sterling

USD

  -   United States Dollar

At July 31, 2021, the Portfolio had sufficient cash and/or securities to cover commitments under open derivative contracts.

The Portfolio is subject to foreign exchange risk in the normal course of pursuing its investment objective. Because the Portfolio holds foreign currency denominated investments, the value of these investments and related receivables and payables may change due to future changes in foreign currency exchange rates. To hedge against this risk, the Portfolio enters into forward foreign currency exchange contracts.

 

35

 

 


An affiliated company is a company in which a fund has a direct or indirect ownership of, control of, or voting power of 5 percent or more of the outstanding voting shares, or a company that is under common ownership or control with a fund. At July 31, 2021, the value of the Portfolio’s investment in affiliated companies and funds was $658,460,777, which represents 8.0% of the Portfolio’s net assets. Transactions in affiliated companies and funds by the Portfolio for the fiscal year to date ended July 31, 2021 were as follows:

 

                                                                                                                                                                                                       

Name of
affiliated company/fund

   Value,
beginning of
period
     Purchases      Sales
proceeds
    Net
realized
gain (loss)
    Change in
unrealized
appreciation
(depreciation)
    Value, end of
period
     Dividend
income
     Shares/Units, end
of  period
 

Common Stocks*

 

                 

IAP Global Services, LLC(1)(2)(3)

   $ 32,365,745      $      $     $     $ (9,140,574   $ 23,225,171      $        2,577  

Short-Term Investments

 

              

Eaton Vance Cash Reserves Fund, LLC

     183,387,147        2,014,459,431        (1,562,610,781     (191           635,235,606        342,908        635,235,606  
          

 

 

   

 

 

   

 

 

    

 

 

    

Totals

           $ (191   $ (9,140,574   $ 658,460,777      $ 342,908     
          

 

 

   

 

 

   

 

 

    

 

 

    

 

*

The related industry is the same as the presentation in the Portfolio of Investments.

 

(1)

For fair value measurement disclosure purposes, security is categorized as Level 3.

 

(2)

Non-income producing security.

 

(3)

Security was acquired in connection with a restructuring of a Senior Loan and may be subject to restrictions on resale.

Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.

 

 

Level 1 — quoted prices in active markets for identical investments

 

 

Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

 

 

Level 3 — significant unobservable inputs (including a fund’s own assumptions in determining the fair value of investments)

In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

 

36

 

 


At July 31, 2021, the hierarchy of inputs used in valuing the Portfolio’s investments and open derivative instruments, which are carried at value, were as follows:

 

Asset Description    Level 1      Level 2      Level 3*      Total  

Asset-Backed Securities

   $      $     264,001,637      $      $     264,001,637  

Common Stocks

     29,897,838        28,310,961        38,668,531        96,877,330  

Convertible Preferred Stocks

            3,425,364               3,425,364  

Corporate Bonds

            547,434,836               547,434,836  

Exchange-Traded Funds

     48,156,820                      48,156,820  

Preferred Stocks

            1,969,870        0        1,969,870  

Senior Floating-Rate Loans (Less Unfunded Loan Commitments)

            6,998,031,080        6,613,126        7,004,644,206  

Warrants

            549,553        824,877        1,374,430  

Miscellaneous

                   0        0  

Short-Term Investments

            635,235,606               635,235,606  

Total Investments

   $ 78,054,658      $ 8,478,958,907      $ 46,106,534      $ 8,603,120,099  

Forward Foreign Currency Exchange Contracts

   $      $ 1,879,640      $      $ 1,879,640  

Total

   $     78,054,658      $     8,480,838,547      $     46,106,534      $     8,604,999,739  
Liability Description                          

Forward Foreign Currency Exchange Contracts

   $      $ (515,275    $      $ (515,275

Total

   $      $ (515,275    $      $ (515,275

 

*

None of the unobservable inputs for Level 3 assets, individually or collectively, had a material impact on the Portfolio.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the fiscal year to date ended July 31, 2021 is not presented.

For information on the Portfolio’s policy regarding the valuation of investments and other significant accounting policies, please refer to the Portfolio’s most recent financial statements included in its semiannual or annual report to shareholders.

 

37