Corporate Bonds - 83.2%
|
|||
Principal
Amount (a)
|
Value ($)
|
||
Convertible Bonds - 1.9%
|
|||
Broadcasting - 0.7%
|
|||
DISH Network Corp.:
|
|||
2.375% 3/15/24
|
4,594,000
|
4,088,660
|
|
3.375% 8/15/26
|
7,208,000
|
5,128,813
|
|
9,217,473
|
|||
Energy - 1.2%
|
|||
Mesquite Energy, Inc. 15% 7/15/23 (b)(c)
|
1,175,827
|
5,879,135
|
|
Mesquite Energy, Inc. 15% 7/15/23 (b)(c)
|
2,028,327
|
9,228,888
|
|
15,108,023
|
|||
TOTAL CONVERTIBLE BONDS
|
24,325,496
|
||
Nonconvertible Bonds - 81.3%
|
|||
Aerospace - 3.2%
|
|||
ATI, Inc.:
|
|||
4.875% 10/1/29
|
1,215,000
|
1,039,618
|
|
5.875% 12/1/27
|
7,225,000
|
6,719,250
|
|
Bombardier, Inc.:
|
|||
6% 2/15/28 (d)
|
1,585,000
|
1,367,538
|
|
7.875% 4/15/27 (d)
|
7,843,000
|
7,246,932
|
|
BWX Technologies, Inc. 4.125% 6/30/28 (d)
|
3,247,000
|
3,076,533
|
|
Kaiser Aluminum Corp.:
|
|||
4.5% 6/1/31 (d)
|
830,000
|
668,814
|
|
4.625% 3/1/28 (d)
|
3,375,000
|
2,883,631
|
|
Moog, Inc. 4.25% 12/15/27 (d)
|
3,040,000
|
2,836,715
|
|
TransDigm, Inc.:
|
|||
4.625% 1/15/29
|
2,335,000
|
2,101,500
|
|
5.5% 11/15/27
|
12,420,000
|
11,736,900
|
|
7.5% 3/15/27
|
1,455,000
|
1,478,738
|
|
41,156,169
|
|||
Air Transportation - 0.1%
|
|||
American Airlines, Inc. / AAdvantage Loyalty IP Ltd. 5.5% 4/20/26 (d)
|
1,325,000
|
1,303,124
|
|
Automotive & Auto Parts - 0.3%
|
|||
Ford Motor Credit Co. LLC:
|
|||
2.9% 2/10/29
|
2,715,000
|
2,291,270
|
|
3.815% 11/2/27
|
1,640,000
|
1,503,142
|
|
3,794,412
|
|||
Banks & Thrifts - 0.1%
|
|||
Jane Street Group LLC/JSG Finance, Inc. 4.5% 11/15/29 (d)
|
970,000
|
894,825
|
|
Broadcasting - 1.1%
|
|||
Diamond Sports Group LLC/Diamond Sports Finance Co. 5.375% 8/15/26 (d)
|
9,005,000
|
1,981,100
|
|
Sinclair Television Group, Inc. 5.5% 3/1/30 (d)
|
1,670,000
|
1,333,399
|
|
Sirius XM Radio, Inc.:
|
|||
4% 7/15/28 (d)
|
2,505,000
|
2,327,145
|
|
4.125% 7/1/30 (d)
|
845,000
|
762,908
|
|
TEGNA, Inc.:
|
|||
4.625% 3/15/28
|
1,895,000
|
1,850,894
|
|
5% 9/15/29
|
725,000
|
708,731
|
|
Univision Communications, Inc.:
|
|||
4.5% 5/1/29 (d)
|
2,170,000
|
1,960,519
|
|
6.625% 6/1/27 (d)
|
3,080,000
|
3,087,700
|
|
14,012,396
|
|||
Building Materials - 0.6%
|
|||
Advanced Drain Systems, Inc. 5% 9/30/27 (d)
|
3,329,000
|
3,262,420
|
|
Builders FirstSource, Inc. 4.25% 2/1/32 (d)
|
2,210,000
|
1,891,263
|
|
SRS Distribution, Inc.:
|
|||
4.625% 7/1/28 (d)
|
1,335,000
|
1,248,092
|
|
6% 12/1/29 (d)
|
1,230,000
|
1,064,112
|
|
7,465,887
|
|||
Cable/Satellite TV - 4.1%
|
|||
CCO Holdings LLC/CCO Holdings Capital Corp.:
|
|||
4.25% 2/1/31 (d)
|
3,680,000
|
3,192,400
|
|
4.5% 8/15/30 (d)
|
2,885,000
|
2,564,534
|
|
4.5% 5/1/32
|
4,540,000
|
3,925,148
|
|
4.5% 6/1/33 (d)
|
3,195,000
|
2,699,775
|
|
4.75% 3/1/30 (d)
|
4,755,000
|
4,327,050
|
|
5% 2/1/28 (d)
|
1,495,000
|
1,442,675
|
|
5.375% 6/1/29 (d)
|
1,705,000
|
1,624,780
|
|
CSC Holdings LLC:
|
|||
4.125% 12/1/30 (d)
|
2,050,000
|
1,743,402
|
|
4.5% 11/15/31 (d)
|
555,000
|
471,750
|
|
4.625% 12/1/30 (d)
|
5,335,000
|
4,054,600
|
|
5.375% 2/1/28 (d)
|
3,840,000
|
3,648,000
|
|
5.75% 1/15/30 (d)
|
3,435,000
|
2,773,866
|
|
7.5% 4/1/28 (d)
|
3,345,000
|
3,069,038
|
|
Dolya Holdco 18 DAC 5% 7/15/28 (d)
|
1,680,000
|
1,534,546
|
|
Radiate Holdco LLC/Radiate Financial Service Ltd.:
|
|||
4.5% 9/15/26 (d)
|
2,875,000
|
2,657,650
|
|
6.5% 9/15/28 (d)
|
6,560,000
|
5,205,163
|
|
Telenet Finance Luxembourg Notes SARL 5.5% 3/1/28 (d)
|
4,400,000
|
3,967,700
|
|
Ziggo Bond Co. BV 5.125% 2/28/30 (d)
|
2,090,000
|
1,781,725
|
|
Ziggo BV 4.875% 1/15/30 (d)
|
1,455,000
|
1,343,183
|
|
52,026,985
|
|||
Capital Goods - 0.7%
|
|||
Mueller Water Products, Inc. 4% 6/15/29 (d)
|
1,905,000
|
1,736,134
|
|
Vertical Holdco GmbH 7.625% 7/15/28 (d)
|
2,315,000
|
2,095,075
|
|
Vertical U.S. Newco, Inc. 5.25% 7/15/27 (d)
|
5,865,000
|
5,630,400
|
|
9,461,609
|
|||
Chemicals - 3.6%
|
|||
CVR Partners LP 6.125% 6/15/28 (d)
|
2,072,000
|
1,885,520
|
|
Element Solutions, Inc. 3.875% 9/1/28 (d)
|
1,999,000
|
1,845,537
|
|
Kronos Acquisition Holdings, Inc. / KIK Custom Products, Inc.:
|
|||
5% 12/31/26 (d)
|
3,400,000
|
2,917,316
|
|
7% 12/31/27 (d)
|
440,000
|
333,441
|
|
LSB Industries, Inc. 6.25% 10/15/28 (d)
|
3,330,000
|
3,020,610
|
|
Methanex Corp.:
|
|||
5.125% 10/15/27
|
3,800,000
|
3,515,000
|
|
5.65% 12/1/44
|
2,152,000
|
1,570,960
|
|
NOVA Chemicals Corp.:
|
|||
4.25% 5/15/29 (d)
|
1,900,000
|
1,650,606
|
|
5% 5/1/25 (d)
|
940,000
|
919,188
|
|
5.25% 6/1/27 (d)
|
4,320,000
|
4,142,880
|
|
Nufarm Australia Ltd. 5% 1/27/30 (d)
|
2,575,000
|
2,188,750
|
|
Olympus Water U.S. Holding Corp.:
|
|||
4.25% 10/1/28 (d)
|
2,030,000
|
1,717,465
|
|
6.25% 10/1/29 (d)
|
2,255,000
|
1,612,325
|
|
SCIL IV LLC / SCIL U.S.A. Holdings LLC 5.375% 11/1/26 (d)
|
1,550,000
|
1,296,676
|
|
The Chemours Co. LLC:
|
|||
4.625% 11/15/29 (d)
|
1,645,000
|
1,443,488
|
|
5.375% 5/15/27
|
2,604,000
|
2,486,820
|
|
5.75% 11/15/28 (d)
|
10,255,000
|
9,772,912
|
|
W.R. Grace Holding LLC 5.625% 8/15/29 (d)
|
3,140,000
|
2,650,160
|
|
44,969,654
|
|||
Consumer Products - 0.6%
|
|||
Mattel, Inc. 3.75% 4/1/29 (d)
|
3,225,000
|
2,979,094
|
|
Michaels Companies, Inc.:
|
|||
5.25% 5/1/28 (d)
|
1,425,000
|
1,186,313
|
|
7.875% 5/1/29 (d)
|
1,100,000
|
753,500
|
|
Nordstrom, Inc.:
|
|||
4.25% 8/1/31
|
1,630,000
|
1,320,153
|
|
4.375% 4/1/30
|
1,090,000
|
914,475
|
|
7,153,535
|
|||
Containers - 0.7%
|
|||
Graphic Packaging International, Inc. 3.75% 2/1/30 (d)
|
610,000
|
549,206
|
|
Sealed Air Corp. 5% 4/15/29 (d)
|
2,240,000
|
2,217,600
|
|
Trivium Packaging Finance BV:
|
|||
5.5% 8/15/26 (d)
|
3,574,000
|
3,502,520
|
|
8.5% 8/15/27 (d)
|
3,080,000
|
2,938,319
|
|
9,207,645
|
|||
Diversified Financial Services - 2.7%
|
|||
Altus Midstream LP 5.875% 6/15/30 (d)
|
1,535,000
|
1,559,238
|
|
Coinbase Global, Inc.:
|
|||
3.375% 10/1/28 (d)
|
3,705,000
|
2,383,458
|
|
3.625% 10/1/31 (d)
|
4,210,000
|
2,494,720
|
|
Hightower Holding LLC 6.75% 4/15/29 (d)
|
2,245,000
|
1,764,561
|
|
Icahn Enterprises LP/Icahn Enterprises Finance Corp.:
|
|||
4.375% 2/1/29
|
3,160,000
|
2,843,700
|
|
5.25% 5/15/27
|
7,725,000
|
7,416,000
|
|
6.25% 5/15/26
|
4,350,000
|
4,320,540
|
|
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp. 4.75% 6/15/29 (d)
|
1,415,000
|
1,207,759
|
|
OneMain Finance Corp.:
|
|||
3.5% 1/15/27
|
3,265,000
|
2,776,674
|
|
3.875% 9/15/28
|
4,865,000
|
4,028,244
|
|
7.125% 3/15/26
|
3,970,000
|
3,843,655
|
|
34,638,549
|
|||
Diversified Media - 1.1%
|
|||
Advantage Sales & Marketing, Inc. 6.5% 11/15/28 (d)
|
6,565,000
|
5,974,150
|
|
Nielsen Finance LLC/Nielsen Finance Co.:
|
|||
4.5% 7/15/29 (d)
|
1,905,000
|
1,791,216
|
|
5.625% 10/1/28 (d)
|
3,100,000
|
3,038,000
|
|
5.875% 10/1/30 (d)
|
1,460,000
|
1,432,625
|
|
Terrier Media Buyer, Inc. 8.875% 12/15/27 (d)
|
2,410,000
|
1,928,516
|
|
14,164,507
|
|||
Energy - 10.2%
|
|||
Apache Corp. 4.25% 1/15/30
|
775,000
|
746,678
|
|
Atlantica Sustainable Infrastructure PLC 4.125% 6/15/28 (d)
|
2,540,000
|
2,322,789
|
|
CGG SA 8.75% 4/1/27 (d)
|
750,000
|
687,210
|
|
Citgo Petroleum Corp. 6.375% 6/15/26 (d)
|
4,285,000
|
4,113,600
|
|
Colgate Energy Partners III LLC 5.875% 7/1/29 (d)
|
3,318,000
|
3,027,675
|
|
Comstock Resources, Inc.:
|
|||
5.875% 1/15/30 (d)
|
1,550,000
|
1,456,256
|
|
6.75% 3/1/29 (d)
|
4,110,000
|
4,068,900
|
|
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp.:
|
|||
5.625% 5/1/27 (d)
|
9,034,000
|
8,672,640
|
|
5.75% 4/1/25
|
4,660,000
|
4,590,100
|
|
6% 2/1/29 (d)
|
4,453,000
|
4,056,772
|
|
CrownRock LP/CrownRock Finance, Inc.:
|
|||
5% 5/1/29 (d)
|
1,295,000
|
1,202,874
|
|
5.625% 10/15/25 (d)
|
230,000
|
229,660
|
|
CVR Energy, Inc.:
|
|||
5.25% 2/15/25 (d)
|
3,960,000
|
3,789,621
|
|
5.75% 2/15/28 (d)
|
3,580,000
|
3,239,900
|
|
Delek Logistics Partners LP 7.125% 6/1/28 (d)
|
3,905,000
|
3,563,313
|
|
DT Midstream, Inc. 4.125% 6/15/29 (d)
|
1,140,000
|
1,055,366
|
|
EnLink Midstream LLC 5.625% 1/15/28 (d)
|
665,000
|
645,489
|
|
EQM Midstream Partners LP:
|
|||
6.5% 7/1/27 (d)
|
1,412,000
|
1,414,923
|
|
7.5% 6/1/27 (d)
|
735,000
|
751,100
|
|
7.5% 6/1/30 (d)
|
735,000
|
756,407
|
|
Global Partners LP/GLP Finance Corp. 6.875% 1/15/29
|
2,160,000
|
1,970,870
|
|
Harvest Midstream I LP 7.5% 9/1/28 (d)
|
1,110,000
|
1,060,405
|
|
Hess Midstream Partners LP:
|
|||
4.25% 2/15/30 (d)
|
1,115,000
|
993,264
|
|
5.125% 6/15/28 (d)
|
3,025,000
|
2,950,509
|
|
Hilcorp Energy I LP/Hilcorp Finance Co.:
|
|||
5.75% 2/1/29 (d)
|
775,000
|
707,188
|
|
6.25% 11/1/28 (d)
|
775,000
|
750,545
|
|
Holly Energy Partners LP/Holly Energy Finance Corp. 5% 2/1/28 (d)
|
1,555,000
|
1,433,796
|
|
Mesquite Energy, Inc. 7.25% 2/15/23 (c)(d)(e)
|
10,580,000
|
1
|
|
New Fortress Energy, Inc.:
|
|||
6.5% 9/30/26 (d)
|
13,490,000
|
12,775,705
|
|
6.75% 9/15/25 (d)
|
13,740,000
|
13,413,675
|
|
NGL Energy Operating LLC/NGL Energy Finance Corp. 7.5% 2/1/26 (d)
|
4,110,000
|
3,754,773
|
|
Occidental Petroleum Corp.:
|
|||
7.5% 5/1/31
|
2,575,000
|
2,985,790
|
|
7.875% 9/15/31
|
635,000
|
735,013
|
|
8.875% 7/15/30
|
2,170,000
|
2,598,575
|
|
Rockies Express Pipeline LLC:
|
|||
4.8% 5/15/30 (d)
|
145,000
|
121,800
|
|
4.95% 7/15/29 (d)
|
1,480,000
|
1,300,335
|
|
6.875% 4/15/40 (d)
|
655,000
|
555,113
|
|
SM Energy Co. 5.625% 6/1/25
|
2,035,000
|
2,001,931
|
|
Southwestern Energy Co. 4.75% 2/1/32
|
1,640,000
|
1,529,300
|
|
Sunoco LP/Sunoco Finance Corp.:
|
|||
4.5% 5/15/29
|
1,670,000
|
1,502,733
|
|
5.875% 3/15/28
|
875,000
|
837,253
|
|
Superior Plus LP / Superior General Partner, Inc. 4.5% 3/15/29 (d)
|
1,155,000
|
1,062,600
|
|
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp.:
|
|||
5.5% 1/15/28 (d)
|
3,125,000
|
2,837,750
|
|
6% 3/1/27 (d)
|
6,065,000
|
5,634,331
|
|
6% 12/31/30 (d)
|
3,525,000
|
3,176,906
|
|
6% 9/1/31 (d)
|
3,695,000
|
3,329,195
|
|
7.5% 10/1/25 (d)
|
1,105,000
|
1,107,312
|
|
Transocean Guardian Ltd. 5.875% 1/15/24 (d)
|
1,096,445
|
1,047,105
|
|
Transocean Phoenix 2 Ltd. 7.75% 10/15/24 (d)
|
227,250
|
220,432
|
|
Transocean Pontus Ltd. 6.125% 8/1/25 (d)
|
621,150
|
580,775
|
|
Transocean Poseidon Ltd. 6.875% 2/1/27 (d)
|
946,875
|
868,758
|
|
Transocean Sentry Ltd. 5.375% 5/15/23 (d)
|
1,393,799
|
1,327,594
|
|
Venture Global Calcasieu Pass LLC:
|
|||
3.875% 8/15/29 (d)
|
1,885,000
|
1,739,327
|
|
4.125% 8/15/31 (d)
|
1,865,000
|
1,719,325
|
|
129,021,257
|
|||
Environmental - 1.3%
|
|||
Covanta Holding Corp. 4.875% 12/1/29 (d)
|
1,730,000
|
1,540,963
|
|
Darling Ingredients, Inc. 6% 6/15/30 (d)
|
910,000
|
941,149
|
|
Madison IAQ LLC:
|
|||
4.125% 6/30/28 (d)
|
3,730,000
|
3,301,050
|
|
5.875% 6/30/29 (d)
|
10,110,000
|
7,892,473
|
|
Stericycle, Inc.:
|
|||
3.875% 1/15/29 (d)
|
2,775,000
|
2,537,266
|
|
5.375% 7/15/24 (d)
|
575,000
|
573,310
|
|
16,786,211
|
|||
Food & Drug Retail - 1.1%
|
|||
Albertsons Companies LLC/Safeway, Inc./New Albertson's, Inc./Albertson's LLC:
|
|||
3.5% 3/15/29 (d)
|
9,110,000
|
7,977,354
|
|
4.875% 2/15/30 (d)
|
2,205,000
|
2,017,575
|
|
Emergent BioSolutions, Inc. 3.875% 8/15/28 (d)
|
3,765,000
|
2,859,555
|
|
Murphy Oil U.S.A., Inc. 3.75% 2/15/31 (d)
|
675,000
|
615,884
|
|
13,470,368
|
|||
Food/Beverage/Tobacco - 2.2%
|
|||
C&S Group Enterprises LLC 5% 12/15/28 (d)
|
5,435,000
|
3,933,678
|
|
JBS U.S.A. Lux SA / JBS Food Co. 5.5% 1/15/30 (d)
|
2,845,000
|
2,763,766
|
|
Lamb Weston Holdings, Inc. 4.125% 1/31/30 (d)
|
3,660,000
|
3,410,994
|
|
Performance Food Group, Inc. 5.5% 10/15/27 (d)
|
1,505,000
|
1,483,042
|
|
Post Holdings, Inc.:
|
|||
4.625% 4/15/30 (d)
|
1,290,000
|
1,156,820
|
|
5.5% 12/15/29 (d)
|
1,325,000
|
1,252,470
|
|
Primo Water Holdings, Inc. 4.375% 4/30/29 (d)
|
4,030,000
|
3,480,913
|
|
TreeHouse Foods, Inc. 4% 9/1/28
|
860,000
|
748,200
|
|
Triton Water Holdings, Inc. 6.25% 4/1/29 (d)
|
9,450,000
|
7,106,679
|
|
U.S. Foods, Inc.:
|
|||
4.625% 6/1/30 (d)
|
820,000
|
751,325
|
|
4.75% 2/15/29 (d)
|
2,180,000
|
2,034,888
|
|
28,122,775
|
|||
Gaming - 2.9%
|
|||
Affinity Gaming LLC 6.875% 12/15/27 (d)
|
3,630,000
|
3,145,559
|
|
Caesars Entertainment, Inc.:
|
|||
4.625% 10/15/29 (d)
|
2,035,000
|
1,725,273
|
|
6.25% 7/1/25 (d)
|
2,675,000
|
2,668,313
|
|
8.125% 7/1/27 (d)
|
10,219,000
|
10,219,000
|
|
Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc. 6.75% 1/15/30 (d)
|
4,500,000
|
3,678,750
|
|
Golden Entertainment, Inc. 7.625% 4/15/26 (d)
|
6,480,000
|
6,466,873
|
|
Jacobs Entertainment, Inc. 6.75% 2/15/29 (d)
|
975,000
|
808,580
|
|
Premier Entertainment Sub LLC:
|
|||
5.625% 9/1/29 (d)
|
2,725,000
|
2,200,438
|
|
5.875% 9/1/31 (d)
|
1,295,000
|
1,013,534
|
|
Station Casinos LLC 4.5% 2/15/28 (d)
|
1,665,000
|
1,510,538
|
|
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp. 5.25% 5/15/27 (d)
|
3,039,000
|
2,818,673
|
|
36,255,531
|
|||
Healthcare - 8.8%
|
|||
180 Medical, Inc. 3.875% 10/15/29 (d)
|
2,065,000
|
1,877,319
|
|
AMN Healthcare 4% 4/15/29 (d)
|
3,205,000
|
2,907,450
|
|
Avantor Funding, Inc.:
|
|||
3.875% 11/1/29 (d)
|
2,000,000
|
1,841,040
|
|
4.625% 7/15/28 (d)
|
1,750,000
|
1,684,760
|
|
Bausch Health Companies, Inc.:
|
|||
5% 1/30/28 (d)
|
2,480,000
|
1,320,600
|
|
7% 1/15/28 (d)
|
4,015,000
|
2,222,824
|
|
Cano Health, Inc. 6.25% 10/1/28 (d)
|
3,310,000
|
2,967,276
|
|
Catalent Pharma Solutions 3.5% 4/1/30 (d)
|
3,245,000
|
2,902,863
|
|
Charles River Laboratories International, Inc.:
|
|||
3.75% 3/15/29 (d)
|
1,150,000
|
1,061,201
|
|
4.25% 5/1/28 (d)
|
472,000
|
461,380
|
|
Community Health Systems, Inc.:
|
|||
4.75% 2/15/31 (d)
|
3,505,000
|
2,821,525
|
|
5.25% 5/15/30 (d)
|
3,850,000
|
3,234,000
|
|
5.625% 3/15/27 (d)
|
7,855,000
|
6,981,131
|
|
6% 1/15/29 (d)
|
2,290,000
|
1,998,025
|
|
6.125% 4/1/30 (d)
|
2,885,000
|
1,542,408
|
|
6.875% 4/15/29 (d)
|
3,575,000
|
1,984,125
|
|
8% 3/15/26 (d)
|
1,615,000
|
1,542,325
|
|
CTR Partnership LP/CareTrust Capital Corp. 3.875% 6/30/28 (d)
|
2,070,000
|
1,828,969
|
|
DaVita HealthCare Partners, Inc.:
|
|||
3.75% 2/15/31 (d)
|
855,000
|
649,800
|
|
4.625% 6/1/30 (d)
|
7,480,000
|
6,133,600
|
|
Embecta Corp. 5% 2/15/30 (d)
|
860,000
|
755,716
|
|
Grifols Escrow Issuer SA 4.75% 10/15/28 (d)
|
3,010,000
|
2,667,673
|
|
HealthEquity, Inc. 4.5% 10/1/29 (d)
|
3,520,000
|
3,278,317
|
|
Hologic, Inc.:
|
|||
3.25% 2/15/29 (d)
|
3,405,000
|
3,085,730
|
|
4.625% 2/1/28 (d)
|
6,000
|
5,857
|
|
Jazz Securities DAC 4.375% 1/15/29 (d)
|
3,880,000
|
3,735,858
|
|
MEDNAX, Inc. 5.375% 2/15/30 (d)
|
2,290,000
|
2,112,525
|
|
Minerva Merger Sub, Inc. 6.5% 2/15/30 (d)
|
3,660,000
|
3,312,300
|
|
ModivCare Escrow Issuer, Inc. 5% 10/1/29 (d)
|
785,000
|
718,275
|
|
Molina Healthcare, Inc. 3.875% 11/15/30 (d)
|
1,465,000
|
1,353,395
|
|
Option Care Health, Inc. 4.375% 10/31/29 (d)
|
3,020,000
|
2,755,750
|
|
Organon & Co. / Organon Foreign Debt Co-Issuer BV:
|
|||
4.125% 4/30/28 (d)
|
3,935,000
|
3,720,543
|
|
5.125% 4/30/31 (d)
|
2,160,000
|
2,022,300
|
|
Owens & Minor, Inc. 4.5% 3/31/29 (d)
|
1,010,000
|
907,787
|
|
Radiology Partners, Inc. 9.25% 2/1/28 (d)
|
3,750,000
|
2,758,200
|
|
RP Escrow Issuer LLC 5.25% 12/15/25 (d)
|
5,310,000
|
4,774,576
|
|
Teleflex, Inc. 4.25% 6/1/28 (d)
|
930,000
|
876,641
|
|
Tenet Healthcare Corp.:
|
|||
4.25% 6/1/29 (d)
|
3,290,000
|
3,059,700
|
|
4.375% 1/15/30 (d)
|
1,990,000
|
1,848,551
|
|
4.625% 6/15/28 (d)
|
3,350,000
|
3,161,182
|
|
6.125% 10/1/28 (d)
|
9,780,000
|
9,535,500
|
|
6.125% 6/15/30 (d)
|
2,820,000
|
2,848,538
|
|
6.25% 2/1/27 (d)
|
2,741,000
|
2,772,987
|
|
Valeant Pharmaceuticals International, Inc. 8.5% 1/31/27 (d)
|
1,155,000
|
729,498
|
|
110,760,020
|
|||
Homebuilders/Real Estate - 3.7%
|
|||
Ashton Woods U.S.A. LLC/Ashton Woods Finance Co. 4.625% 8/1/29 (d)
|
985,000
|
763,516
|
|
Howard Hughes Corp.:
|
|||
4.125% 2/1/29 (d)
|
1,325,000
|
1,139,747
|
|
4.375% 2/1/31 (d)
|
1,325,000
|
1,122,030
|
|
Kennedy-Wilson, Inc. 4.75% 2/1/30
|
4,055,000
|
3,484,948
|
|
MPT Operating Partnership LP/MPT Finance Corp.:
|
|||
4.625% 8/1/29
|
1,540,000
|
1,443,750
|
|
5% 10/15/27
|
10,940,000
|
10,525,374
|
|
Railworks Holdings LP 8.25% 11/15/28 (d)
|
2,855,000
|
2,532,621
|
|
TopBuild Corp. 4.125% 2/15/32 (d)
|
3,180,000
|
2,766,913
|
|
Uniti Group LP / Uniti Group Finance, Inc.:
|
|||
4.75% 4/15/28 (d)
|
6,395,000
|
5,628,363
|
|
6.5% 2/15/29 (d)
|
22,416,000
|
17,256,061
|
|
46,663,323
|
|||
Hotels - 0.5%
|
|||
Hilton Domestic Operating Co., Inc.:
|
|||
3.625% 2/15/32 (d)
|
3,710,000
|
3,199,875
|
|
3.75% 5/1/29 (d)
|
495,000
|
449,213
|
|
4% 5/1/31 (d)
|
1,540,000
|
1,382,366
|
|
Wyndham Hotels & Resorts, Inc. 4.375% 8/15/28 (d)
|
1,785,000
|
1,639,890
|
|
6,671,344
|
|||
Insurance - 0.6%
|
|||
Alliant Holdings Intermediate LLC 4.25% 10/15/27 (d)
|
3,740,000
|
3,485,946
|
|
AmWINS Group, Inc. 4.875% 6/30/29 (d)
|
3,540,000
|
3,219,630
|
|
AssuredPartners, Inc. 5.625% 1/15/29 (d)
|
1,355,000
|
1,205,950
|
|
7,911,526
|
|||
Leisure - 2.6%
|
|||
Carnival Corp.:
|
|||
5.75% 3/1/27 (d)
|
5,650,000
|
4,528,786
|
|
6% 5/1/29 (d)
|
4,475,000
|
3,436,390
|
|
6.65% 1/15/28
|
300,000
|
212,030
|
|
7.625% 3/1/26 (d)
|
6,815,000
|
5,891,738
|
|
MajorDrive Holdings IV LLC 6.375% 6/1/29 (d)
|
1,485,000
|
1,119,556
|
|
NCL Corp. Ltd.:
|
|||
3.625% 12/15/24 (d)
|
3,160,000
|
2,717,600
|
|
5.875% 3/15/26 (d)
|
890,000
|
725,857
|
|
7.75% 2/15/29 (d)
|
2,010,000
|
1,611,216
|
|
NCL Finance Ltd. 6.125% 3/15/28 (d)
|
640,000
|
494,739
|
|
Royal Caribbean Cruises Ltd.:
|
|||
4.25% 7/1/26 (d)
|
4,110,000
|
3,164,700
|
|
5.375% 7/15/27 (d)
|
1,535,000
|
1,189,625
|
|
5.5% 8/31/26 (d)
|
3,160,000
|
2,495,620
|
|
5.5% 4/1/28 (d)
|
3,905,000
|
2,948,275
|
|
Viking Ocean Cruises Ship VII Ltd. 5.625% 2/15/29 (d)
|
630,000
|
544,103
|
|
Voc Escrow Ltd. 5% 2/15/28 (d)
|
1,440,000
|
1,277,698
|
|
32,357,933
|
|||
Metals/Mining - 0.8%
|
|||
Eldorado Gold Corp. 6.25% 9/1/29 (d)
|
1,005,000
|
808,083
|
|
ERO Copper Corp. 6.5% 2/15/30 (d)
|
3,950,000
|
2,683,531
|
|
First Quantum Minerals Ltd. 6.875% 10/15/27 (d)
|
3,115,000
|
2,943,675
|
|
HudBay Minerals, Inc. 4.5% 4/1/26 (d)
|
860,000
|
711,435
|
|
Mineral Resources Ltd. 8.5% 5/1/30 (d)
|
1,400,000
|
1,417,500
|
|
PMHC II, Inc. 9% 2/15/30 (d)
|
2,130,000
|
1,549,405
|
|
10,113,629
|
|||
Paper - 0.7%
|
|||
Ardagh Metal Packaging Finance U.S.A. LLC/Ardagh Metal Packaging Finance PLC:
|
|||
4% 9/1/29 (d)
|
1,165,000
|
1,001,900
|
|
6% 6/15/27 (d)
|
1,985,000
|
2,042,069
|
|
Clydesdale Acquisition Holdings, Inc. 6.625% 4/15/29 (d)
|
815,000
|
822,922
|
|
Glatfelter Corp. 4.75% 11/15/29 (d)
|
1,385,000
|
943,531
|
|
SPA Holdings 3 OY 4.875% 2/4/28 (d)
|
4,520,000
|
3,664,272
|
|
8,474,694
|
|||
Publishing/Printing - 0.1%
|
|||
News Corp. 5.125% 2/15/32 (d)
|
1,685,000
|
1,609,175
|
|
Railroad - 0.3%
|
|||
First Student Bidco, Inc./First Transit Parent, Inc. 4% 7/31/29 (d)
|
4,195,000
|
3,702,088
|
|
Restaurants - 0.5%
|
|||
1011778 BC Unlimited Liability Co./New Red Finance, Inc. 4% 10/15/30 (d)
|
2,680,000
|
2,331,600
|
|
Garden SpinCo Corp. 8.625% 7/20/30 (d)
|
550,000
|
577,517
|
|
Yum! Brands, Inc. 4.625% 1/31/32
|
3,225,000
|
3,065,105
|
|
5,974,222
|
|||
Services - 5.5%
|
|||
Adtalem Global Education, Inc. 5.5% 3/1/28 (d)
|
3,646,000
|
3,415,901
|
|
APX Group, Inc. 6.75% 2/15/27 (d)
|
1,280,000
|
1,267,845
|
|
Aramark Services, Inc. 5% 2/1/28 (d)
|
1,560,000
|
1,524,120
|
|
ASGN, Inc. 4.625% 5/15/28 (d)
|
2,280,000
|
2,114,700
|
|
Booz Allen Hamilton, Inc. 3.875% 9/1/28 (d)
|
9,020,000
|
8,555,109
|
|
Brand Energy & Infrastructure Services, Inc. 8.5% 7/15/25 (d)
|
6,812,000
|
5,628,415
|
|
CoreCivic, Inc.:
|
|||
4.75% 10/15/27
|
3,616,000
|
3,020,902
|
|
8.25% 4/15/26
|
7,700,000
|
7,649,638
|
|
Fair Isaac Corp. 4% 6/15/28 (d)
|
1,535,000
|
1,431,689
|
|
Gartner, Inc.:
|
|||
3.625% 6/15/29 (d)
|
985,000
|
899,492
|
|
3.75% 10/1/30 (d)
|
1,600,000
|
1,469,632
|
|
GEMS MENASA Cayman Ltd. 7.125% 7/31/26 (d)
|
7,761,000
|
7,237,133
|
|
Legends Hospitality Holding Co. LLC/Legends Hospitality Co-Issuer, Inc. 5% 2/1/26 (d)
|
5,185,000
|
4,673,603
|
|
PowerTeam Services LLC 9.033% 12/4/25 (d)
|
840,000
|
682,500
|
|
Service Corp. International:
|
|||
4% 5/15/31
|
2,505,000
|
2,304,713
|
|
5.125% 6/1/29
|
2,272,000
|
2,272,000
|
|
Sotheby's 7.375% 10/15/27 (d)
|
6,200,000
|
5,965,876
|
|
The GEO Group, Inc. 6% 4/15/26
|
2,110,000
|
1,602,560
|
|
TriNet Group, Inc. 3.5% 3/1/29 (d)
|
3,950,000
|
3,461,188
|
|
WASH Multifamily Acquisition, Inc. 5.75% 4/15/26 (d)
|
4,717,000
|
4,705,538
|
|
69,882,554
|
|||
Steel - 0.3%
|
|||
Commercial Metals Co. 4.125% 1/15/30
|
1,140,000
|
999,666
|
|
Roller Bearing Co. of America, Inc. 4.375% 10/15/29 (d)
|
2,705,000
|
2,452,209
|
|
3,451,875
|
|||
Super Retail - 1.4%
|
|||
Bath & Body Works, Inc. 6.694% 1/15/27
|
625,000
|
616,406
|
|
Carvana Co.:
|
|||
4.875% 9/1/29 (d)
|
1,330,000
|
793,944
|
|
5.5% 4/15/27 (d)
|
2,050,000
|
1,353,000
|
|
5.875% 10/1/28 (d)
|
550,000
|
348,700
|
|
10.25% 5/1/30 (d)
|
300,000
|
246,657
|
|
EG Global Finance PLC:
|
|||
6.75% 2/7/25 (d)
|
2,875,000
|
2,738,438
|
|
8.5% 10/30/25 (d)
|
4,985,000
|
4,881,611
|
|
LBM Acquisition LLC 6.25% 1/15/29 (d)
|
2,315,000
|
1,747,825
|
|
Levi Strauss & Co. 3.5% 3/1/31 (d)
|
2,235,000
|
2,019,926
|
|
Wolverine World Wide, Inc. 4% 8/15/29 (d)
|
3,250,000
|
2,831,563
|
|
17,578,070
|
|||
Technology - 6.3%
|
|||
Acuris Finance U.S. 5% 5/1/28 (d)
|
5,520,000
|
4,636,800
|
|
Arches Buyer, Inc.:
|
|||
4.25% 6/1/28 (d)
|
2,040,000
|
1,745,045
|
|
6.125% 12/1/28 (d)
|
2,935,000
|
2,406,700
|
|
Black Knight InfoServ LLC 3.625% 9/1/28 (d)
|
3,485,000
|
3,223,625
|
|
Clarivate Science Holdings Corp.:
|
|||
3.875% 7/1/28 (d)
|
810,000
|
737,100
|
|
4.875% 7/1/29 (d)
|
820,000
|
725,700
|
|
CommScope, Inc.:
|
|||
4.75% 9/1/29 (d)
|
1,415,000
|
1,230,314
|
|
6% 3/1/26 (d)
|
1,260,000
|
1,224,846
|
|
7.125% 7/1/28 (d)
|
2,505,000
|
2,072,888
|
|
8.25% 3/1/27 (d)
|
770,000
|
669,900
|
|
Elastic NV 4.125% 7/15/29 (d)
|
3,310,000
|
2,947,125
|
|
Entegris Escrow Corp.:
|
|||
4.75% 4/15/29 (d)
|
2,285,000
|
2,200,044
|
|
5.95% 6/15/30 (d)
|
3,020,000
|
2,997,350
|
|
Gartner, Inc. 4.5% 7/1/28 (d)
|
2,505,000
|
2,410,557
|
|
II-VI, Inc. 5% 12/15/29 (d)
|
3,575,000
|
3,405,188
|
|
ION Trading Technologies Ltd. 5.75% 5/15/28 (d)
|
4,095,000
|
3,357,900
|
|
MicroStrategy, Inc. 6.125% 6/15/28 (d)
|
4,810,000
|
4,172,675
|
|
Northwest Fiber LLC/Northwest Fiber Finance Sub, Inc. 10.75% 6/1/28 (d)
|
1,505,000
|
1,343,213
|
|
onsemi 3.875% 9/1/28 (d)
|
1,875,000
|
1,735,838
|
|
Open Text Corp.:
|
|||
3.875% 2/15/28 (d)
|
2,815,000
|
2,589,691
|
|
3.875% 12/1/29 (d)
|
3,245,000
|
2,920,971
|
|
Rackspace Hosting, Inc.:
|
|||
3.5% 2/15/28 (d)
|
2,710,000
|
2,239,739
|
|
5.375% 12/1/28 (d)
|
19,245,000
|
14,143,430
|
|
Roblox Corp. 3.875% 5/1/30 (d)
|
3,450,000
|
3,021,811
|
|
Sensata Technologies BV 4% 4/15/29 (d)
|
1,740,000
|
1,583,400
|
|
TTM Technologies, Inc. 4% 3/1/29 (d)
|
6,735,000
|
5,950,808
|
|
Twilio, Inc. 3.875% 3/15/31
|
1,270,000
|
1,125,042
|
|
Uber Technologies, Inc. 8% 11/1/26 (d)
|
3,275,000
|
3,334,290
|
|
80,151,990
|
|||
Telecommunications - 8.6%
|
|||
Altice Financing SA:
|
|||
5% 1/15/28 (d)
|
2,610,000
|
2,298,679
|
|
5.75% 8/15/29 (d)
|
13,650,000
|
11,943,750
|
|
Altice France Holding SA 6% 2/15/28 (d)
|
6,280,000
|
4,914,100
|
|
Altice France SA:
|
|||
5.125% 1/15/29 (d)
|
5,910,000
|
5,024,505
|
|
5.125% 7/15/29 (d)
|
2,830,000
|
2,422,056
|
|
5.5% 1/15/28 (d)
|
4,455,000
|
3,916,702
|
|
5.5% 10/15/29 (d)
|
20,000
|
17,266
|
|
C&W Senior Financing Designated Activity Co. 6.875% 9/15/27 (d)
|
16,554,000
|
14,743,820
|
|
Cablevision Lightpath LLC:
|
|||
3.875% 9/15/27 (d)
|
765,000
|
679,894
|
|
5.625% 9/15/28 (d)
|
605,000
|
488,634
|
|
Consolidated Communications, Inc. 5% 10/1/28 (d)
|
930,000
|
734,764
|
|
Frontier Communications Holdings LLC:
|
|||
5% 5/1/28 (d)
|
3,330,000
|
3,129,334
|
|
5.875% 10/15/27 (d)
|
1,685,000
|
1,659,961
|
|
5.875% 11/1/29
|
2,485,000
|
2,087,400
|
|
6% 1/15/30 (d)
|
2,115,000
|
1,776,748
|
|
8.75% 5/15/30 (d)
|
1,675,000
|
1,778,666
|
|
Intelsat Jackson Holdings SA 6.5% 3/15/30 (d)
|
3,100,000
|
2,865,950
|
|
Level 3 Financing, Inc.:
|
|||
3.625% 1/15/29 (d)
|
565,000
|
472,204
|
|
4.25% 7/1/28 (d)
|
5,030,000
|
4,388,431
|
|
Lumen Technologies, Inc.:
|
|||
4.5% 1/15/29 (d)
|
6,305,000
|
4,996,713
|
|
5.125% 12/15/26 (d)
|
3,255,000
|
2,964,947
|
|
Millicom International Cellular SA:
|
|||
4.5% 4/27/31 (d)
|
3,880,000
|
3,185,965
|
|
5.125% 1/15/28 (d)
|
211,500
|
192,169
|
|
Sable International Finance Ltd. 5.75% 9/7/27 (d)
|
748,000
|
660,110
|
|
SBA Communications Corp. 3.125% 2/1/29
|
1,630,000
|
1,426,250
|
|
Sprint Capital Corp.:
|
|||
6.875% 11/15/28
|
2,010,000
|
2,256,225
|
|
8.75% 3/15/32
|
2,410,000
|
3,120,950
|
|
Telecom Italia Capital SA:
|
|||
6% 9/30/34
|
3,032,000
|
2,388,693
|
|
7.2% 7/18/36
|
1,449,000
|
1,201,772
|
|
7.721% 6/4/38
|
400,000
|
332,000
|
|
Uniti Group, Inc. 6% 1/15/30 (d)
|
5,895,000
|
4,209,474
|
|
Virgin Media Secured Finance PLC 4.5% 8/15/30 (d)
|
2,980,000
|
2,670,825
|
|
VMED O2 UK Financing I PLC 4.25% 1/31/31 (d)
|
3,745,000
|
3,280,208
|
|
Windstream Escrow LLC 7.75% 8/15/28 (d)
|
7,880,000
|
7,055,752
|
|
Zayo Group Holdings, Inc.:
|
|||
4% 3/1/27 (d)
|
2,600,000
|
2,275,676
|
|
6.125% 3/1/28 (d)
|
1,755,000
|
1,360,125
|
|
108,920,718
|
|||
Textiles/Apparel - 0.3%
|
|||
Foot Locker, Inc. 4% 10/1/29 (d)
|
3,550,000
|
2,760,125
|
|
Kontoor Brands, Inc. 4.125% 11/15/29 (d)
|
580,000
|
489,096
|
|
3,249,221
|
|||
Transportation Ex Air/Rail - 0.4%
|
|||
Golar LNG Ltd. 7% 10/20/25 (d)
|
1,690,000
|
1,580,150
|
|
Great Lakes Dredge & Dock Corp. 5.25% 6/1/29 (d)
|
1,020,000
|
910,248
|
|
Seaspan Corp. 5.5% 8/1/29 (d)
|
4,095,000
|
3,204,338
|
|
5,694,736
|
|||
Utilities - 3.3%
|
|||
Clearway Energy Operating LLC 3.75% 2/15/31 (d)
|
1,750,000
|
1,532,342
|
|
Global Partners LP/GLP Finance Corp. 7% 8/1/27
|
3,807,000
|
3,481,157
|
|
InterGen NV 7% 6/30/23 (d)
|
10,532,000
|
10,131,995
|
|
NRG Energy, Inc.:
|
|||
3.375% 2/15/29 (d)
|
2,360,000
|
2,035,500
|
|
5.25% 6/15/29 (d)
|
2,565,000
|
2,404,688
|
|
NSG Holdings II LLC/NSG Holdings, Inc. 7.75% 12/15/25 (d)
|
1,345,356
|
1,301,632
|
|
PG&E Corp.:
|
|||
5% 7/1/28
|
4,420,000
|
4,035,195
|
|
5.25% 7/1/30
|
6,030,000
|
5,411,925
|
|
Pike Corp. 5.5% 9/1/28 (d)
|
8,127,000
|
6,964,433
|
|
Vistra Operations Co. LLC:
|
|||
5% 7/31/27 (d)
|
2,849,000
|
2,804,983
|
|
5.625% 2/15/27 (d)
|
1,965,000
|
1,971,308
|
|
42,075,158
|
|||
TOTAL NONCONVERTIBLE BONDS
|
1,029,147,715
|
||
|
TOTAL CORPORATE BONDS
(Cost $1,185,975,174)
|
1,053,473,211
|
||
Common Stocks - 4.1%
|
|||
Shares
|
Value ($)
|
||
Cable/Satellite TV - 0.1%
|
|||
Altice U.S.A., Inc. Class A (f)
|
105,200
|
1,105,652
|
|
Energy - 1.7%
|
|||
California Resources Corp. warrants 10/27/24 (f)
|
2,871
|
41,917
|
|
Jonah Energy Parent LLC (c)(f)
|
148,945
|
6,776,998
|
|
Mesquite Energy, Inc. (c)(f)
|
149,356
|
8,756,759
|
|
New Fortress Energy, Inc.
|
57,500
|
2,815,775
|
|
Pioneer Natural Resources Co.
|
10,700
|
2,535,365
|
|
TOTAL ENERGY
|
20,926,814
|
||
Food & Drug Retail - 1.9%
|
|||
Southeastern Grocers, Inc. (b)(c)(f)
|
963,443
|
23,507,990
|
|
Gaming - 0.2%
|
|||
Caesars Entertainment, Inc. (f)
|
57,300
|
2,618,037
|
|
Metals/Mining - 0.0%
|
|||
Elah Holdings, Inc. (f)
|
333
|
22,228
|
|
Telecommunications - 0.0%
|
|||
GTT Communications, Inc. rights (c)(f)
|
160,059
|
160,059
|
|
Utilities - 0.2%
|
|||
EQT Corp.
|
69,900
|
3,077,697
|
|
|
TOTAL COMMON STOCKS
(Cost $24,295,800)
|
51,418,477
|
||
Bank Loan Obligations - 5.2%
|
|||
Principal
Amount (a)
|
Value ($)
|
||
Broadcasting - 0.2%
|
|||
Diamond Sports Group LLC:
|
|||
1LN, term loan CME Term SOFR 1 Month Index + 8.000% 9.786% 5/25/26 (g)(h)(i)
|
1,970,432
|
1,866,984
|
|
2LN, term loan CME Term SOFR 1 Month Index + 3.250% 5.036% 8/24/26 (g)(h)(i)
|
4,474,512
|
875,707
|
|
TOTAL BROADCASTING
|
2,742,691
|
||
Building Materials - 0.1%
|
|||
Acproducts Holdings, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.250% 6.9703% 5/17/28 (g)(h)(i)
|
2,148,722
|
1,524,260
|
|
Chemicals - 0.4%
|
|||
Consolidated Energy Finance SA Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 4.0287% 5/7/25 (c)(g)(h)(i)
|
2,740,584
|
2,651,515
|
|
Olympus Water U.S. Holding Corp. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 6.0625% 11/9/28 (g)(h)(i)
|
2,059,650
|
1,945,731
|
|
TOTAL CHEMICALS
|
4,597,246
|
||
Energy - 0.3%
|
|||
EG America LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.000% 6.2504% 2/6/25 (g)(h)(i)
|
2,382,501
|
2,252,750
|
|
EG Finco Ltd. Tranche B, term loan 3 month U.S. LIBOR + 4.000% 6.2504% 2/6/25 (g)(h)(i)
|
1,599,124
|
1,512,035
|
|
Mesquite Energy, Inc.:
|
|||
1LN, term loan 3 month U.S. LIBOR + 8.000% 0% (c)(e)(h)(i)
|
2,735,146
|
0
|
|
term loan 3 month U.S. LIBOR + 0.000% 0% (c)(e)(h)(i)
|
1,217,000
|
0
|
|
TOTAL ENERGY
|
3,764,785
|
||
Gaming - 0.4%
|
|||
Fertitta Entertainment LLC NV Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.000% 6.327% 1/27/29 (g)(h)(i)
|
4,793,263
|
4,561,413
|
|
Healthcare - 0.5%
|
|||
Da Vinci Purchaser Corp. Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.000% 6.0306% 12/13/26 (g)(h)(i)
|
129,013
|
125,572
|
|
Gainwell Acquisition Corp. Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.000% 6.2504% 10/1/27 (g)(h)(i)
|
6,897,469
|
6,679,026
|
|
TOTAL HEALTHCARE
|
6,804,598
|
||
Insurance - 0.3%
|
|||
HUB International Ltd. Tranche B, term loan 1 month U.S. LIBOR + 3.000% 5.7657% 4/25/25 (g)(h)(i)
|
4,399,192
|
4,282,437
|
|
Leisure - 0.4%
|
|||
City Football Group Ltd. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 5.6616% 7/21/28 (g)(h)(i)
|
5,807,571
|
5,488,154
|
|
Paper - 0.1%
|
|||
Clydesdale Acquisition Holdings, Inc. 1LN, term loan CME Term SOFR 1 Month Index + 4.170% 6.602% 4/13/29 (g)(h)(i)
|
1,025,000
|
982,719
|
|
Services - 0.3%
|
|||
Ascend Learning LLC:
|
|||
2LN, term loan 1 month U.S. LIBOR + 5.750% 7.4161% 12/10/29 (g)(h)(i)
|
225,000
|
198,000
|
|
Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 5.1661% 12/10/28 (g)(h)(i)
|
2,258,650
|
2,133,724
|
|
Brand Energy & Infrastructure Services, Inc. Tranche B, term loan 3 month U.S. LIBOR + 4.250% 6.9444% 6/21/24 (g)(h)(i)
|
1,323,194
|
1,205,509
|
|
TOTAL SERVICES
|
3,537,233
|
||
Super Retail - 0.6%
|
|||
Bass Pro Group LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 5.4161% 3/5/28 (g)(h)(i)
|
2,792,965
|
2,548,580
|
|
LBM Acquisition LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 5.4161% 12/18/27 (g)(h)(i)
|
5,494,149
|
4,714,200
|
|
TOTAL SUPER RETAIL
|
7,262,780
|
||
Technology - 0.7%
|
|||
Athenahealth Group, Inc.:
|
|||
Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.500% 5.6534% 2/15/29 (g)(h)(i)
|
5,797,391
|
5,514,768
|
|
Tranche DD 1LN, term loan CME Term SOFR 1 Month Index + 3.500% 2/15/29 (h)(i)(j)
|
982,609
|
934,707
|
|
Central Parent, Inc. 1LN, term loan CME Term SOFR 1 Month Index + 4.500% 6.6095% 7/6/29 (g)(h)(i)
|
565,000
|
548,406
|
|
CommScope, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.250% 5.6223% 4/4/26 (g)(h)(i)
|
1,617,526
|
1,520,474
|
|
Verscend Holding Corp. Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.000% 5.6661% 8/27/25 (g)(h)(i)
|
829,562
|
806,234
|
|
TOTAL TECHNOLOGY
|
9,324,589
|
||
Telecommunications - 0.6%
|
|||
GTT Communications, Inc. Tranche B, term loan 3 month U.S. LIBOR + 4.750% 8.5% 5/31/25 (g)(h)(i)
|
6,203,519
|
4,804,626
|
|
Northwest Fiber LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 5.906% 4/30/27 (g)(h)(i)
|
2,309,254
|
2,087,958
|
|
TOTAL TELECOMMUNICATIONS
|
6,892,584
|
||
Utilities - 0.3%
|
|||
Brookfield WEC Holdings, Inc. 1LN, term loan CME Term SOFR 1 Month Index + 3.750% 6.0361% 8/1/25 (g)(h)(i)
|
1,385,000
|
1,340,735
|
|
PG&E Corp. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.000% 5.375% 6/23/25 (g)(h)(i)
|
2,660,696
|
2,565,070
|
|
TOTAL UTILITIES
|
3,905,805
|
||
|
TOTAL BANK LOAN OBLIGATIONS
(Cost $73,575,855)
|
65,671,294
|
||
Other - 0.5%
|
|||
Shares
|
Value ($)
|
||
Other - 0.5%
|
|||
Fidelity Direct Lending Fund, LP (b)(k)
(Cost $5,793,797)
|
579,456
|
5,748,202
|
|
Money Market Funds - 5.7%
|
|||
Shares
|
Value ($)
|
||
Fidelity Cash Central Fund 2.01% (l)
|
72,054,506
|
72,068,917
|
|
Fidelity Securities Lending Cash Central Fund 2.01% (l)(m)
|
0
|
0
|
|
|
TOTAL MONEY MARKET FUNDS
(Cost $72,068,917)
|
72,068,917
|
||
|
TOTAL INVESTMENT IN SECURITIES - 98.7%
(Cost $1,361,709,543)
|
1,248,380,101
|
NET OTHER ASSETS (LIABILITIES) - 1.3%
|
17,025,171
|
NET ASSETS - 100.0%
|
1,265,405,272
|
(a)
|
Amount is stated in United States dollars unless otherwise noted.
|
(b)
|
Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $44,364,215 or 3.5% of net assets.
|
(c)
|
Level 3 security
|
(d)
|
Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $876,446,159 or 69.3% of net assets.
|
(e)
|
Non-income producing - Security is in default.
|
(f)
|
Non-income producing
|
(g)
|
Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.
|
(h)
|
Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors.
|
(i)
|
Remaining maturities of bank loan obligations may be less than the stated maturities shown as a result of contractual or optional prepayments by the borrower. Such prepayments cannot be predicted with certainty.
|
(j)
|
Position or a portion of the position represents an unfunded loan commitment. At period end, the total principal amount and market value of unfunded commitments totaled $853,623 and $812,009, respectively.
|
(k)
|
Affiliated Fund
|
(l)
|
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
|
(m)
|
Investment made with cash collateral received from securities on loan.
|
Additional information on each restricted holding is as follows:
|
||
Security
|
Acquisition Date
|
Acquisition Cost ($)
|
Fidelity Direct Lending Fund, LP
|
12/09/21 - 7/29/22
|
5,793,797
|
Mesquite Energy, Inc. 15% 7/15/23
|
7/10/20 - 1/18/22
|
1,175,827
|
Mesquite Energy, Inc. 15% 7/15/23
|
11/05/20 - 1/18/22
|
2,028,327
|
Southeastern Grocers, Inc.
|
6/01/18
|
6,776,820
|
Affiliate
|
Value,
beginning
of period ($)
|
Purchases ($)
|
Sales
Proceeds ($)
|
Dividend
Income ($)
|
Realized
Gain (loss) ($)
|
Change in
Unrealized
appreciation
(depreciation) ($)
|
Value,
end
of period ($)
|
%ownership,
end
of period
|
Fidelity Cash Central Fund 2.01%
|
49,396,894
|
168,064,637
|
145,392,614
|
153,426
|
-
|
-
|
72,068,917
|
0.1%
|
Total
|
49,396,894
|
168,064,637
|
145,392,614
|
153,426
|
-
|
-
|
72,068,917
|
|
Affiliate
|
Value,
beginning
of period ($)
|
Purchases ($)
|
Sales
Proceeds ($)
|
Dividend
Income ($)
|
Realized
Gain (loss) ($)
|
Change in
Unrealized
appreciation
(depreciation) ($)
|
Value,
end
of period ($)
|
Fidelity Direct Lending Fund, LP
|
4,620,231
|
1,177,908
|
-
|
105,257
|
-
|
(49,937)
|
5,748,202
|
4,620,231
|
1,177,908
|
-
|
105,257
|
-
|
(49,937)
|
5,748,202
|