Asset-Backed Securities - 0.1%
|
|||
Principal
Amount (a)
|
Value ($)
|
||
BAILIWICK OF JERSEY - 0.0%
|
|||
Brant Point Clo Ltd Series 2024-5A Class E, CME Term SOFR 3 month Index + 6.7%, 10.3676% 10/20/2037 (c)(d)(n)
|
324,000
|
321,723
|
|
GRAND CAYMAN (UK OVERSEAS TER) - 0.1%
|
|||
720 East CLO IV Ltd Series 2024-1A Class E, CME Term SOFR 3 month Index + 6.5%, 10.1722% 4/15/2037 (c)(d)(n)
|
538,000
|
524,729
|
|
Arini US CLO II Ltd Series 2025-2A Class E, CME Term SOFR 3 month Index + 5.65%, 9.3222% 3/31/2038 (c)(d)(n)
|
333,000
|
325,570
|
|
Balboa Bay Loan Funding Ltd Series 2025-1A Class D2, CME Term SOFR 3 month Index + 4.15%, 8.209% 7/20/2038 (c)(d)(n)
|
501,000
|
503,010
|
|
Balboa Bay Loan Funding Ltd Series 2025-1A Class E, CME Term SOFR 3 month Index + 5.75%, 9.4176% 7/20/2038 (c)(d)(n)
|
321,000
|
311,118
|
|
Bayard Park CLO Ltd Series 2025-1A Class E, CME Term SOFR 3 month Index + 6.35%, 10.018% 7/24/2038 (c)(d)(n)
|
798,000
|
792,062
|
|
Bbam US CLO I Ltd Series 2025-1A Class D1R, CME Term SOFR 3 month Index + 3%, 6.6722% 3/30/2038 (c)(d)(n)
|
488,000
|
483,147
|
|
Bbam US CLO III Ltd Series 2025-3A Class DR, CME Term SOFR 3 month Index + 5.2%, 8.8722% 10/15/2038 (c)(d)(n)
|
404,000
|
379,611
|
|
Benefit Street Partners CLO XXXIX Ltd Series 2025-39A Class D2, CME Term SOFR 3 month Index + 3.65%, 7.3222% 4/15/2038 (c)(d)(n)
|
668,000
|
658,044
|
|
Birch Grove CLO 12 Ltd Series 2025-12A Class D1, CME Term SOFR 3 month Index + 2.75%, 6.4192% 4/22/2038 (c)(d)(n)
|
716,000
|
708,684
|
|
Birch Grove CLO 5 LLC Series 2024-5A Class ER, CME Term SOFR 3 month Index + 6.75%, 10.4176% 10/20/2037 (c)(d)(n)
|
393,000
|
381,769
|
|
Carlyle US CLO Ltd Series 2024-6A Class E, CME Term SOFR 3 month Index + 5.75%, 9.418% 10/25/2037 (c)(d)(n)
|
468,000
|
454,253
|
|
Carlyle US CLO Ltd Series 2025-2A Class E, CME Term SOFR 3 month Index + 6.75%, 11.046% 7/25/2038 (c)(d)(n)
|
658,000
|
653,199
|
|
Carval CLO Ltd Series 2024-3A Class E, CME Term SOFR 3 month Index + 6.35%, 10.0176% 10/20/2037 (c)(d)(n)
|
178,000
|
175,386
|
|
CIFC Funding Ltd Series 2025-3A Class E, CME Term SOFR 3 month Index + 7.25%, 10.9197% 7/21/2038 (c)(d)(n)
|
1,091,000
|
1,091,573
|
|
CIFC Funding Ltd Series 2025-4A Class D2R, CME Term SOFR 3 month Index + 3.75%, 7.4176% 1/17/2038 (c)(d)(n)
|
410,000
|
390,267
|
|
Diameter Capital CLO 7 Ltd / Diameter Capital CLO 7 LLC Series 2024-7A Class D, CME Term SOFR 3 month Index + 6.1%, 9.7676% 7/20/2037 (c)(d)(n)
|
1,262,000
|
1,253,186
|
|
Flat Series 2025-30A Class D2, CME Term SOFR 3 month Index + 4.1%, 7.7722% 4/15/2038 (c)(d)(n)
|
460,000
|
460,030
|
|
Flatiron RR CLO 30 Ltd Series 2025-30A Class E, CME Term SOFR 3 month Index + 5.25%, 8.9222% 4/15/2038 (c)(d)(n)
|
707,000
|
685,099
|
|
Garnet CLO Ltd Series 2025-1A Class E, CME Term SOFR 3 month Index + 6.25%, 9.9176% 7/20/2037 (c)(d)(n)
|
218,000
|
211,866
|
|
Madison Park Funding LXXII Ltd Series 2025-72A Class D2, 8.345% 7/23/2038 (n)
|
308,000
|
309,291
|
|
Magnetite XXIX Ltd Series 2024-29A Class ER, CME Term SOFR 3 month Index + 6%, 9.6722% 7/15/2037 (c)(d)(n)
|
395,000
|
391,542
|
|
Midocean Cr Clo Xix Series 2025-19A Class E, CME Term SOFR 3 month Index + 6.25%, 9.9176% 7/20/2036 (c)(d)(n)
|
519,000
|
503,341
|
|
Midocean Cr Clo Xvi Series 2024-16A Class E, CME Term SOFR 3 month Index + 6.25%, 9.9176% 10/20/2037 (c)(d)(n)
|
464,000
|
460,702
|
|
OCP CLO Ltd Series 2024-14A Class ER, CME Term SOFR 3 month Index + 6.55%, 10.2176% 7/20/2037 (c)(d)(n)
|
553,000
|
545,040
|
|
Palmer Square CLO Ltd Series 2025-2A Class DR2, CME Term SOFR 3 month Index + 4.14%, 7.8122% 2/15/2038 (c)(d)(n)
|
319,000
|
309,609
|
|
Palmer Square Loan Funding Ltd Series 2025-2A Class D, CME Term SOFR 3 month Index + 4.5%, 8.1722% 7/15/2033 (c)(d)(n)
|
738,000
|
728,799
|
|
Pikes Peak CLO 1 Series 2025-12A Class D2R, CME Term SOFR 3 month Index + 3.8%, 7.4676% 4/20/2038 (c)(d)(n)
|
274,000
|
260,335
|
|
RR 31 Ltd Series 2024-31A Class D, CME Term SOFR 3 month Index + 6%, 9.6722% 10/15/2039 (c)(d)(n)
|
826,000
|
819,048
|
|
TOTAL GRAND CAYMAN (UK OVERSEAS TER)
|
14,770,310
|
||
UNITED STATES - 0.0%
|
|||
Obra CLO 1 Ltd / Obra CLO 1 LLC Series 2024-1A Class D2, 8.259% 1/20/2038 (n)
|
325,000
|
325,432
|
|
Obra Homes Finance LLC Series 2024-1A Class E, CME Term SOFR 3 month Index + 6.75%, 10.4176% 1/20/2038 (c)(d)(n)
|
375,000
|
372,348
|
|
Systima Capital Management LLC Series 2025-SUP2 Class E, U.S. 30-Day Avg. SOFR Index + 4%, 7.3619% 9/25/2032 (c)(d)(n)
|
205,639
|
206,617
|
|
TOTAL UNITED STATES
|
904,397
|
||
|
TOTAL ASSET-BACKED SECURITIES
(Cost $16,212,672)
|
15,996,430
|
||
Bank Loan Obligations - 3.5%
|
|||
Principal
Amount (a)
|
Value ($)
|
||
FINLAND - 0.0%
|
|||
Materials - 0.0%
|
|||
Paper & Forest Products - 0.0%
|
|||
Ahlstrom Holding 3 Oy Tranche B 1LN, term loan CME Term SOFR 1 month Index + 4.25%, 8.2112% 5/23/2030 (b)(c)(d)
|
4,109,028
|
4,061,938
|
|
FRANCE - 0.0%
|
|||
Communication Services - 0.0%
|
|||
Diversified Telecommunication Services - 0.0%
|
|||
Altice France SA Tranche B14 1LN, term loan CME Term SOFR 1 month Index + 6.875%, 10.5472% 5/31/2031 (b)(c)(d)
|
6,910,512
|
6,914,865
|
|
LUXEMBOURG - 0.0%
|
|||
Financials - 0.0%
|
|||
Financial Services - 0.0%
|
|||
Accelya Lux Finco Sarl Tranche B 1LN, term loan CME Term SOFR 1 month Index + 5.25%, 8.9496% 10/1/2032 (b)(c)(d)
|
5,391,488
|
4,926,472
|
|
Materials - 0.0%
|
|||
Containers & Packaging - 0.0%
|
|||
Kleopatra Finco Sarl Tranche EXIT LOAN 1LN, term loan CME Term SOFR 1 month Index + 7%, 10.6668% 1/30/2031 (b)(c)(d)
|
497,961
|
401,948
|
|
TOTAL LUXEMBOURG
|
5,328,420
|
||
NETHERLANDS - 0.1%
|
|||
Industrials - 0.1%
|
|||
Building Products - 0.1%
|
|||
Hunter Douglas Inc Tranche B 1LN, term loan CME Term SOFR 3 month Index + 3%, 6.6996% 1/17/2032 (b)(c)(d)
|
8,953,205
|
8,901,008
|
|
SWITZERLAND - 0.1%
|
|||
Materials - 0.1%
|
|||
Chemicals - 0.1%
|
|||
Consolidated Energy Finance SA 1LN, term loan CME Term SOFR 3 month Index + 4.75%, 8.4142% 11/15/2030 (b)(c)(d)
|
4,090,000
|
3,893,189
|
|
Consolidated Energy Finance SA Tranche B 1LN, term loan CME Term SOFR 3 month Index + 4.5%, 8.1975% 11/15/2030 (b)(c)(d)
|
5,194,000
|
4,963,075
|
|
TOTAL SWITZERLAND
|
8,856,264
|
||
UNITED KINGDOM - 0.1%
|
|||
Communication Services - 0.0%
|
|||
Diversified Telecommunication Services - 0.0%
|
|||
Connect Finco SARL Tranche B 1LN, term loan CME Term SOFR 1 month Index + 4.5%, 8.1677% 9/27/2029 (b)(c)(d)
|
5,154,861
|
5,158,882
|
|
Energy - 0.1%
|
|||
Oil, Gas & Consumable Fuels - 0.1%
|
|||
EG America LLC Tranche B 1LN, term loan CME Term SOFR 1 month Index + 3.25%, 6.9177% 2/10/2031 (b)(c)(d)
|
9,600,000
|
9,592,800
|
|
TOTAL UNITED KINGDOM
|
14,751,682
|
||
UNITED STATES - 3.2%
|
|||
Communication Services - 0.0%
|
|||
Diversified Telecommunication Services - 0.0%
|
|||
Aventiv Technologies LLC 1LN, term loan CME Term SOFR 3 month Index + 5.09%, 9.0512% 9/30/2026 (b)(c)(d)
|
4,871,074
|
2,809,002
|
|
Aventiv Technologies LLC Tranche DEC FLSO 1LN, term loan CME Term SOFR 3 month Index + 10%, 13.9491% 9/30/2026 (b)(c)(d)(e)
|
127,095
|
131,861
|
|
Aventiv Technologies LLC Tranche FLSO 1LN, term loan CME Term SOFR 1 month Index + 10%, 13.9327% 9/30/2026 (b)(c)(d)
|
1,167,711
|
1,211,501
|
|
Aventiv Technologies LLC Tranche FLSO 1LN, term loan CME Term SOFR 3 month Index + 7.5%, 11.4612% 9/30/2026 (b)(c)(d)(e)
|
130,721
|
130,721
|
|
4,283,085
|
|||
Entertainment - 0.0%
|
|||
OAK-Eagle Acquireco Inc Tranche B 1LN, term loan CME Term SOFR 1 month Index + 3.5%, 0% 3/24/2033 (b)(c)(d)(f)
|
6,100,000
|
6,061,875
|
|
Media - 0.0%
|
|||
Univision Communications Inc 1LN, term loan CME Term SOFR 3 month Index + 4.25%, 7.9496% 6/24/2029 (b)(c)(d)
|
341,688
|
339,979
|
|
Univision Communications Inc Tranche B 1LN, term loan CME Term SOFR 1 month Index + 3.25%, 7.0322% 1/31/2029 (b)(c)(d)
|
3,436,800
|
3,387,826
|
|
3,727,805
|
|||
TOTAL COMMUNICATION SERVICES
|
14,072,765
|
||
Consumer Discretionary - 0.5%
|
|||
Automobile Components - 0.0%
|
|||
Clarios Global LP Tranche B 1LN, term loan CME Term SOFR 1 month Index + 2.5%, 6.1677% 5/6/2030 (b)(c)(d)
|
1,231,289
|
1,226,289
|
|
Broadline Retail - 0.0%
|
|||
Great Outdoors Group LLC Tranche B 1LN, term loan CME Term SOFR 1 month Index + 3.25%, 6.9177% 1/23/2032 (b)(c)(d)
|
2,850,364
|
2,841,813
|
|
Saks Global Enterprises LLC Tranche SECOND OUT ROLL-UP DIP 1LN, term loan CME Term SOFR 1 month Index + 12.5%, 16.175% 7/15/2026 (b)(c)(d)
|
84,369
|
25,311
|
|
2,867,124
|
|||
Distributors - 0.0%
|
|||
Solenis Holdings Ltd Tranche B6 1LN, term loan CME Term SOFR 3 month Index + 3%, 6.6996% 6/20/2031 (b)(c)(d)
|
1,523,017
|
1,459,629
|
|
Hotels, Restaurants & Leisure - 0.1%
|
|||
Fertitta Entertainment LLC/NV Tranche B 1LN, term loan CME Term SOFR 1 month Index + 3.25%, 6.9177% 1/29/2029 (b)(c)(d)
|
12,810,169
|
12,542,821
|
|
United PF Holdings LLC 1LN, term loan CME Term SOFR 3 month Index + 4%, 7.9285% 12/30/2026 (b)(c)(d)
|
3,858,435
|
3,696,381
|
|
16,239,202
|
|||
Household Durables - 0.0%
|
|||
Weber-Stephen Products LLC Tranche B 1LN, term loan CME Term SOFR 1 month Index + 3.75%, 7.4108% 10/1/2032 (b)(c)(d)
|
5,410,000
|
5,277,455
|
|
Specialty Retail - 0.4%
|
|||
Belron Finance 2019 LLC Tranche B 1LN, term loan CME Term SOFR 3 month Index + 2%, 5.6599% 10/16/2031 (b)(c)(d)
|
1,989,839
|
1,987,849
|
|
Kodiak BP LLC Tranche B 1LN, term loan CME Term SOFR 3 month Index + 3.75%, 9.5% 12/4/2031 (b)(c)(d)
|
1,178,561
|
1,178,007
|
|
LBM Acquisition LLC Tranche B 1LN, term loan CME Term SOFR 1 month Index + 3.75%, 7.525% 6/6/2031 (b)(c)(d)
|
54,088,966
|
43,129,460
|
|
Park River Holdings Inc Tranche B 1LN, term loan CME Term SOFR 1 month Index + 4.5%, 8.1608% 3/15/2031 (b)(c)(d)
|
675,000
|
658,382
|
|
SGUS LLC 1LN, term loan 16.1781% 7/15/2026 (b)(c)
|
86,032
|
25,809
|
|
Wand NewCo 3 Inc Tranche B 1LN, term loan CME Term SOFR 1 month Index + 2.5%, 6.1677% 1/30/2031 (b)(c)(d)
|
917,896
|
909,295
|
|
47,888,802
|
|||
TOTAL CONSUMER DISCRETIONARY
|
74,958,501
|
||
Consumer Staples - 0.0%
|
|||
Beverages - 0.0%
|
|||
Naked Juice LLC Tranche EXCH FLSO FL20 1LN, term loan CME Term SOFR 3 month Index + 3.25%, 7.0496% 1/24/2029 (b)(c)(d)
|
811,042
|
427,824
|
|
Naked Juice LLC Tranche NEW $$ FLFO 1LN, term loan CME Term SOFR 1 month Index + 5.5%, 9.1996% 1/24/2029 (b)(c)(d)
|
530,287
|
526,310
|
|
954,134
|
|||
Food Products - 0.0%
|
|||
Fiesta Purchaser Inc Tranche B 1LN, term loan CME Term SOFR 1 month Index + 2.75%, 6.4177% 2/12/2031 (b)(c)(d)
|
923,638
|
899,392
|
|
TOTAL CONSUMER STAPLES
|
1,853,526
|
||
Energy - 0.0%
|
|||
Oil, Gas & Consumable Fuels - 0.0%
|
|||
New Fortress Energy Inc Tranche B 1LN, term loan CME Term SOFR 3 month Index + 5.5%, 0% (b)(c)(d)(g)
|
10,044,762
|
5,588,202
|
|
Financials - 0.5%
|
|||
Capital Markets - 0.0%
|
|||
Citadel Securities Global Holdings LLC Tranche B 1LN, term loan CME Term SOFR 1 month Index + 2%, 5.6996% 10/31/2031 (b)(c)(d)
|
5,124,045
|
5,126,914
|
|
Focus Financial Partners LLC Tranche B 1LN, term loan CME Term SOFR 1 month Index + 2.5%, 6.1677% 9/15/2031 (b)(c)(d)
|
10,344,325
|
9,996,239
|
|
PEX Holdings LLC 1LN, term loan CME Term SOFR 3 month Index + 2.75%, 6.4496% 11/26/2031 (b)(c)(d)
|
747,450
|
737,486
|
|
15,860,639
|
|||
Financial Services - 0.2%
|
|||
CFC USA 2025 LLC Tranche B 1LN, term loan CME Term SOFR 1 month Index + 3.5%, 7.1608% 7/1/2032 (b)(c)(d)
|
6,324,150
|
6,023,753
|
|
Nexus Buyer LLC Tranche B 1LN, term loan CME Term SOFR 1 month Index + 4%, 7.6677% 7/31/2031 (b)(c)(d)
|
5,387,925
|
5,206,837
|
|
Orion US Finco Inc Tranche B 1LN, term loan CME Term SOFR 1 month Index + 3.5%, 7.1497% 10/8/2032 (b)(c)(d)
|
590,000
|
583,486
|
|
WH Borrower LLC Tranche B 1LN, term loan CME Term SOFR 3 month Index + 4.5%, 8.1556% 2/20/2032 (b)(c)(d)
|
12,228,550
|
12,219,012
|
|
24,033,088
|
|||
Insurance - 0.3%
|
|||
Acrisure LLC Tranche B 1LN, term loan CME Term SOFR 1 month Index + 3.25%, 6.9177% 6/21/2032 (b)(c)(d)
|
7,390,523
|
7,150,332
|
|
Acrisure LLC Tranche B6 1LN, term loan CME Term SOFR 1 month Index + 3%, 6.6677% 11/6/2030 (b)(c)(d)
|
5,079,572
|
4,913,216
|
|
Alera Group Intermediate Holdings Inc Tranche B 1LN, term loan CME Term SOFR 1 month Index + 2.75%, 6.4177% 5/28/2032 (b)(c)(d)
|
1,676,586
|
1,623,807
|
|
Alliant Hldgs Intermediate LLC Tranche B 1LN, term loan CME Term SOFR 1 month Index + 2.5%, 6.1677% 9/19/2031 (b)(c)(d)
|
15,246,349
|
15,114,620
|
|
CRC Insurance Group LLC 2LN, term loan CME Term SOFR 3 month Index + 4.75%, 8.4496% 5/6/2032 (b)(c)(d)
|
5,810,526
|
5,743,357
|
|
CRC Insurance Group LLC Tranche B 1LN, term loan CME Term SOFR 3 month Index + 2.75%, 6.4496% 5/6/2031 (b)(c)(d)
|
3,627,621
|
3,572,082
|
|
HUB International Ltd Tranche B 1LN, term loan CME Term SOFR 3 month Index + 2.25%, 5.9197% 6/20/2030 (b)(c)(d)
|
1,754,595
|
1,749,559
|
|
39,866,973
|
|||
TOTAL FINANCIALS
|
79,760,700
|
||
Health Care - 0.3%
|
|||
Health Care Equipment & Supplies - 0.0%
|
|||
Bausch + Lomb Corp Tranche B 1LN, term loan CME Term SOFR 1 month Index + 3.75%, 7.4177% 1/15/2031 (b)(c)(d)
|
1,452,700
|
1,454,516
|
|
Medline Borrower LP Tranche B 1LN, term loan CME Term SOFR 1 month Index + 2%, 5.4177% 10/23/2028 (b)(c)(d)
|
1,806,110
|
1,808,476
|
|
3,262,992
|
|||
Health Care Technology - 0.2%
|
|||
athenahealth Inc Tranche B 1LN, term loan CME Term SOFR 1 month Index + 2.75%, 6.4177% 2/15/2029 (b)(c)(d)
|
13,220,759
|
12,956,344
|
|
Cotiviti Inc Tranche B 1LN, term loan CME Term SOFR 1 month Index + 2.75%, 6.4177% 5/1/2031 (b)(c)(d)
|
13,068,127
|
12,014,574
|
|
24,970,918
|
|||
Life Sciences Tools & Services - 0.0%
|
|||
PAREXEL International Corp Tranche B 1LN, term loan CME Term SOFR 1 month Index + 2.75%, 6.4177% 12/12/2031 (b)(c)(d)
|
3,086,626
|
3,073,755
|
|
Pharmaceuticals - 0.1%
|
|||
1261229 BC Ltd Tranche B 1LN, term loan CME Term SOFR 1 month Index + 6.25%, 9.9177% 10/8/2030 (b)(c)(d)
|
7,870,525
|
7,584,117
|
|
Amneal Pharmaceuticals LLC Tranche B 1LN, term loan CME Term SOFR 1 month Index + 3%, 6.6677% 8/2/2032 (b)(c)(d)
|
597,000
|
598,492
|
|
8,182,609
|
|||
TOTAL HEALTH CARE
|
39,490,274
|
||
Industrials - 0.5%
|
|||
Aerospace & Defense - 0.1%
|
|||
TransDigm Group Inc Tranche M 1LN, term loan CME Term SOFR 1 month Index + 2.5%, 6.1677% 8/19/2032 (b)(c)(d)
|
9,805,725
|
9,803,372
|
|
TransDigm Inc Tranche L 1LN, term loan CME Term SOFR 3 month Index + 2.5%, 6.1677% 1/19/2032 (b)(c)(d)
|
4,373,400
|
4,372,000
|
|
14,175,372
|
|||
Commercial Services & Supplies - 0.4%
|
|||
ABG Intermediate Holdings 2 LLC Tranche B 1LN, term loan CME Term SOFR 1 month Index + 2.25%, 5.9177% 2/13/2032 (b)(c)(d)
|
8,147,700
|
8,099,303
|
|
ABG Intermediate Holdings 2 LLC Tranche B1 1LN, term loan CME Term SOFR 1 month Index + 2.25%, 5.9177% 12/21/2028 (b)(c)(d)
|
8,128,833
|
8,106,235
|
|
Artera Services LLC 1LN, term loan CME Term SOFR 3 month Index + 4.5%, 8.1677% 2/15/2031 (b)(c)(d)
|
2,719,500
|
2,311,574
|
|
Brand Industrial Services Inc Tranche B 1LN, term loan CME Term SOFR 3 month Index + 4.5%, 8.1636% 8/1/2030 (b)(c)(d)
|
13,740,149
|
11,759,232
|
|
CSC ServiceWorks East LLC Tranche EXCHANGE FLSO TL 1LN, term loan CME Term SOFR 1 month Index + 4%, 7.9326% 9/4/2030 (b)(c)(d)
|
15,236,392
|
11,922,477
|
|
CSC ServiceWorks East LLC Tranche INITIAL FL1O 1LN, term loan CME Term SOFR 1 month Index + 5.43%, 9.101% 9/4/2030 (b)(c)(d)
|
2,614,015
|
2,660,858
|
|
Madison IAQ LLC Tranche B 1LN, term loan CME Term SOFR 6 month Index + 2.5%, 6.1276% 6/21/2028 (b)(c)(d)
|
1,356,100
|
1,354,662
|
|
Neptune Bidco US Inc Tranche B 1LN, term loan CME Term SOFR 3 month Index + 5%, 8.7602% 2/3/2033 (b)(c)(d)
|
2,500,000
|
2,382,500
|
|
Sabert Corp Tranche B 1LN, term loan CME Term SOFR 1 month Index + 3%, 6.7822% 12/10/2026 (b)(c)(d)
|
2,798,720
|
2,793,487
|
|
51,390,328
|
|||
Machinery - 0.0%
|
|||
Beach Acquisition Bidco LLC Tranche B 1LN, term loan CME Term SOFR 3 month Index + 3.25%, 6.9496% 9/13/2032 (b)(c)(d)
|
897,750
|
898,872
|
|
STS Operating Inc 1LN, term loan CME Term SOFR 1 month Index + 4%, 7.7677% 3/25/2031 (b)(c)(d)
|
2,587,200
|
2,584,510
|
|
3,483,382
|
|||
Professional Services - 0.0%
|
|||
Amentum Holdings Inc 1LN, term loan CME Term SOFR 1 month Index + 2%, 5.6677% 9/29/2031 (b)(c)(d)
|
2,011,350
|
2,009,681
|
|
TOTAL INDUSTRIALS
|
71,058,763
|
||
Information Technology - 0.9%
|
|||
Electronic Equipment, Instruments & Components - 0.0%
|
|||
DG Investment Intermediate Holdings Inc Tranche B 1LN, term loan CME Term SOFR 1 month Index + 3.25%, 6.9177% 7/9/2032 (b)(c)(d)
|
957,651
|
956,453
|
|
Lightning Power LLC Tranche B 1LN, term loan CME Term SOFR 3 month Index + 2.25%, 5.9177% 8/18/2031 (b)(c)(d)
|
1,250,950
|
1,252,314
|
|
2,208,767
|
|||
IT Services - 0.1%
|
|||
GTT Communications Inc Tranche NEW $ HOLDCO 1LN, term loan 14% 7/15/2031 (b)(c)
|
2,319,667
|
1,881,830
|
|
Kaseya Inc Tranche B 1LN, term loan CME Term SOFR 1 month Index + 3.25%, 6.9177% 3/22/2032 (b)(c)(d)
|
2,430,450
|
2,263,357
|
|
Peraton Corp Tranche B 1LN, term loan CME Term SOFR 1 month Index + 3.75%, 7.5168% 2/1/2028 (b)(c)(d)
|
9,344,862
|
7,958,738
|
|
12,103,925
|
|||
Software - 0.8%
|
|||
Applied Systems Inc 2LN, term loan CME Term SOFR 3 month Index + 4.5%, 8.1996% 2/23/2032 (b)(c)(d)
|
95,000
|
93,535
|
|
Applied Systems Inc Tranche B2 1LN, term loan CME Term SOFR 3 month Index + 2.25%, 5.9496% 2/24/2031 (b)(c)(d)
|
5,080,041
|
4,975,595
|
|
Avalara Inc Tranche B 1LN, term loan CME Term SOFR 3 month Index + 2.75%, 6.4496% 3/29/2032 (b)(c)(d)
|
12,282,342
|
11,986,215
|
|
Darktrace Finco US LLC 1LN, term loan CME Term SOFR 3 month Index + 3.25%, 6.8981% 10/9/2031 (b)(c)(d)
|
711,407
|
679,486
|
|
KnowBe4 Inc 1LN, term loan CME Term SOFR 1 month Index + 3.75%, 7.4168% 7/26/2032 (b)(c)(d)
|
748,125
|
664,582
|
|
Modena Buyer LLC 1LN, term loan CME Term SOFR 3 month Index + 4.25%, 7.9168% 7/1/2031 (b)(c)(d)
|
12,561,000
|
11,238,578
|
|
Ping Identity Holding Corp 1LN, term loan CME Term SOFR 1 month Index + 2.75%, 6.4216% 11/15/2032 (b)(c)(d)
|
790,000
|
779,138
|
|
Polaris Newco LLC Tranche B 1LN, term loan CME Term SOFR 3 month Index + 4%, 7.9285% 6/2/2028 (b)(c)(d)
|
9,726,675
|
8,535,157
|
|
Proofpoint Inc Tranche B 1LN, term loan CME Term SOFR 1 month Index + 3%, 6.6996% 8/31/2028 (b)(c)(d)
|
36,924,790
|
35,694,088
|
|
Red Planet Borrower LLC Tranche B 1LN, term loan CME Term SOFR 1 month Index + 4%, 7.6677% 9/8/2032 (b)(c)(d)
|
3,999,975
|
3,905,976
|
|
UKG Inc Tranche B 1LN, term loan CME Term SOFR 1 month Index + 2.5%, 6.1668% 2/10/2031 (b)(c)(d)
|
30,825,681
|
29,411,707
|
|
VS Buyer LLC Tranche B 1LN, term loan CME Term SOFR 3 month Index + 2.25%, 5.9168% 4/14/2031 (b)(c)(d)
|
15,865,009
|
15,468,384
|
|
123,432,441
|
|||
TOTAL INFORMATION TECHNOLOGY
|
137,745,133
|
||
Materials - 0.5%
|
|||
Chemicals - 0.3%
|
|||
Discovery Purchaser Corp Tranche B 1LN, term loan CME Term SOFR 3 month Index + 3.75%, 7.4192% 10/4/2029 (b)(c)(d)
|
26,850,116
|
26,373,527
|
|
Herens US Holdco Corp Tranche B 1LN, term loan CME Term SOFR 3 month Index + 3.925%, 7.7246% 7/3/2028 (b)(c)(d)
|
7,521,150
|
6,549,643
|
|
M2S Group Intermediate Holdings Inc Tranche B 1LN, term loan CME Term SOFR 3 month Index + 4.75%, 8.4168% 8/25/2031 (b)(c)(d)
|
11,520,021
|
11,222,458
|
|
44,145,628
|
|||
Containers & Packaging - 0.2%
|
|||
Clydesdale Acquisition Holdings Inc 1LN, term loan CME Term SOFR 1 month Index + 3.175%, 6.8427% 4/13/2029 (b)(c)(d)
|
27,498,819
|
26,170,626
|
|
TOTAL MATERIALS
|
70,316,254
|
||
Utilities - 0.0%
|
|||
Independent Power and Renewable Electricity Producers - 0.0%
|
|||
Talen Energy Supply LLC Tranche TLB-EXIT 1LN, term loan CME Term SOFR 3 month Index + 2.5%, 6.1525% 5/17/2030 (b)(c)(d)
|
236,676
|
236,853
|
|
TOTAL UNITED STATES
|
495,080,971
|
||
|
TOTAL BANK LOAN OBLIGATIONS
(Cost $570,850,468)
|
543,895,148
|
||
Collateralized Mortgage Obligations - 1.3%
|
|||
Principal
Amount (a)
|
Value ($)
|
||
UNITED STATES - 1.3%
|
|||
Fannie Mae Guaranteed REMIC Series 2021-66 Class DA, 2% 1/25/2048
|
1,207,977
|
1,025,934
|
|
Fannie Mae Guaranteed REMIC Series 2021-66 Class DM, 2% 1/25/2048
|
1,283,733
|
1,090,274
|
|
Fannie Mae Guaranteed REMIC Series 2021-85 Class L, 2.5% 8/25/2048
|
1,052,139
|
938,033
|
|
Fannie Mae Guaranteed REMIC Series 2021-96 Class HA, 2.5% 2/25/2050
|
1,662,600
|
1,472,232
|
|
Fannie Mae Guaranteed REMIC Series 2022-1 Class KA, 3% 5/25/2048
|
1,609,771
|
1,499,858
|
|
Fannie Mae Guaranteed REMIC Series 2022-13 Class MA, 3% 5/25/2044
|
6,064,456
|
5,838,797
|
|
Fannie Mae Guaranteed REMIC Series 2022-2 Class TH, 2.5% 2/25/2052
|
882,620
|
816,117
|
|
Fannie Mae Guaranteed REMIC Series 2022-3 Class N, 2% 10/25/2047
|
12,768,941
|
11,462,804
|
|
Fannie Mae Guaranteed REMIC Series 2022-4 Class B, 2.5% 5/25/2049
|
1,203,090
|
1,070,276
|
|
Fannie Mae Guaranteed REMIC Series 2022-7 Class A, 3% 5/25/2048
|
2,275,498
|
2,120,806
|
|
Fannie Mae Guaranteed REMIC Series 2023-54 Class FD, U.S. 30-Day Avg. SOFR Index + 1.45%, 5.1119% 11/25/2053 (c)(d)
|
6,330,075
|
6,416,817
|
|
Fannie Mae Guaranteed REMIC Series 2024-7 Class FB, U.S. 30-Day Avg. SOFR Index + 1.2%, 4.8619% 9/25/2053 (c)(d)
|
2,720,596
|
2,739,509
|
|
Fannie Mae Mortgage pass-thru certificates Series 2024-100 Class EF, U.S. 30-Day Avg. SOFR Index + 1.2%, 4.8619% 6/25/2054 (c)(d)
|
4,457,502
|
4,478,000
|
|
Fannie Mae Mortgage pass-thru certificates Series 2025-4 Class FH, U.S. 30-Day Avg. SOFR Index + 1.2%, 4.8619% 9/25/2054 (c)(d)
|
2,435,649
|
2,446,191
|
|
Fannie Mae Mortgage pass-thru certificates Series 2025-7 Class AF, U.S. 30-Day Avg. SOFR Index + 1.4%, 5.0619% 2/25/2055 (c)(d)
|
3,134,164
|
3,155,715
|
|
Fannie Mae Mortgage pass-thru certificates Series 2025-7 Class DF, U.S. 30-Day Avg. SOFR Index + 1.4%, 5.0619% 9/25/2054 (c)(d)
|
3,663,764
|
3,687,302
|
|
Fannie Mae Mortgage pass-thru certificates Series 2025-7 Class FB, U.S. 30-Day Avg. SOFR Index + 1.2%, 4.8619% 2/25/2055 (c)(d)
|
5,512,378
|
5,545,433
|
|
Fannie Mae Mortgage pass-thru certificates Series 2025-7 Class FE, U.S. 30-Day Avg. SOFR Index + 1.15%, 4.8119% 2/25/2055 (c)(d)
|
2,551,617
|
2,565,358
|
|
Freddie Mac Gold Pool Series 2026-433 Class BA, 4% 4/25/2027 (o)
|
77,630,000
|
77,311,150
|
|
Freddie Mac Multiclass Mortgage participation certificates Series 2021-5159 Class GC, 2% 11/25/2047
|
950,900
|
845,241
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2021-5122 Class TE, 1.5% 6/25/2051
|
3,706,502
|
3,126,282
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2021-5175 Class CB, 2.5% 4/25/2050
|
6,063,367
|
5,316,110
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2021-5180 Class KA, 2.5% 10/25/2047
|
1,186,658
|
1,079,365
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2022-5189 Class DA, 2.5% 5/25/2049
|
1,293,096
|
1,147,125
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2022-5190 Class BA, 2.5% 11/25/2047
|
1,215,223
|
1,104,647
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2022-5191 Class CA, 2.5% 4/25/2050
|
1,402,354
|
1,227,432
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2022-5197 Class DA, 2.5% 11/25/2047
|
921,469
|
838,318
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2022-5198 Class BA, 2.5% 11/25/2047
|
4,416,910
|
4,035,389
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2022-5213 Class JM, 3.5% 9/25/2051
|
4,933,223
|
4,820,995
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2022-5214 Class CG, 3.5% 4/25/2052
|
1,793,602
|
1,716,760
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2022-5220 Class PK, 3.5% 1/25/2051
|
2,480,196
|
2,359,979
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2022-5224 Class DQ, 3.75% 8/25/2044
|
2,838,931
|
2,750,359
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2023-5330 Class FA, U.S. 30-Day Avg. SOFR Index + 1.05%, 4.7119% 8/25/2053 (c)(d)
|
3,956,630
|
3,965,914
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2024-5425 Class FK, U.S. 30-Day Avg. SOFR Index + 1.2%, 4.8619% 6/25/2054 (c)(d)
|
2,686,168
|
2,701,566
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2024-5476 Class FB, U.S. 30-Day Avg. SOFR Index + 1.1%, 4.7619% 11/25/2054 (c)(d)
|
3,304,346
|
3,323,199
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2025-5499 Class NF, U.S. 30-Day Avg. SOFR Index + 1.15%, 4.8119% 2/25/2055 (c)(d)
|
5,953,845
|
5,975,821
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2025-5499 Class WF, U.S. 30-Day Avg. SOFR Index + 1.2%, 4.8619% 2/25/2055 (c)(d)
|
2,006,140
|
2,008,127
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2025-5500 Class FV, U.S. 30-Day Avg. SOFR Index + 1.25%, 4.9119% 10/25/2054 (c)(d)
|
3,724,709
|
3,745,549
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2025-5509 Class FB, U.S. 30-Day Avg. SOFR Index + 1.15%, 4.8119% 2/25/2055 (c)(d)
|
3,681,669
|
3,701,429
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2025-5529 Class CF, U.S. 30-Day Avg. SOFR Index + 1.05%, 4.7119% 4/25/2055 (c)(d)
|
3,590,100
|
3,596,968
|
|
TOTAL UNITED STATES
|
195,067,181
|
||
|
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS
(Cost $193,655,000)
|
195,067,181
|
||
Commercial Mortgage Securities - 2.1%
|
|||
Principal
Amount (a)
|
Value ($)
|
||
UNITED STATES - 2.1%
|
|||
Freddie Mac Multifamily Structured pass-thru certificates Series 2016-K056 Class A2, 2.525% 5/25/2026
|
34,751,788
|
34,624,318
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2016-K057 Class A2, 2.57% 7/25/2026
|
14,596,758
|
14,528,119
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2016-K058 Class A2, 2.653% 8/25/2026
|
22,360,000
|
22,221,489
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2016-K059 Class A2, 3.12% 9/25/2026 (c)
|
2,159,655
|
2,147,628
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2016-K060 Class A2, 3.3% 10/25/2026
|
20,000
|
19,891
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2017-K061 Class A2, 3.347% 11/25/2026
|
60,339,903
|
60,016,221
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2017-K062 Class A2, 3.413% 12/25/2026
|
18,112,502
|
18,012,999
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2017-K063 Class A2, 3.43% 1/25/2027
|
1,783,141
|
1,773,671
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2017-K067 Class A2, 3.194% 7/25/2027
|
5,286,000
|
5,230,183
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2017-K068 Class A2, 3.244% 8/25/2027
|
7,050,000
|
6,970,159
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2019-K735 Class A2, 2.862% 5/25/2026
|
7,971,238
|
7,943,862
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2019-K736 Class A2, 2.282% 7/25/2026
|
7,324,730
|
7,289,803
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2020-K737 Class A2, 2.525% 10/25/2026
|
30,500,000
|
30,269,496
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2020-K739 Class A2, 1.336% 9/25/2027
|
55,255,766
|
53,492,576
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2024-K523 Class AS, U.S. 30-Day Avg. SOFR Index + 0.55%, 4.2189% 4/25/2029 (c)(d)
|
21,164,543
|
21,155,601
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2025-K544 Class AS, U.S. 30-Day Avg. SOFR Index + 0.53%, 4.1989% 6/25/2030 (c)(d)
|
12,500,000
|
12,478,573
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2026-K554 Class AS, U.S. 30-Day Avg. SOFR Index + 0.5%, 4.1689% 10/25/2030 (c)(d)
|
7,898,190
|
7,887,061
|
|
Freddie Mac Multifamily Structured pass-thru certificates Series 2026-K557 Class AS, 4.1689% 12/25/2030
|
12,400,000
|
12,399,921
|
|
TOTAL UNITED STATES
|
318,461,571
|
||
|
TOTAL COMMERCIAL MORTGAGE SECURITIES
(Cost $317,893,892)
|
318,461,571
|
||
Common Stocks - 7.5%
|
|||
Shares
|
Value ($)
|
||
CANADA - 0.1%
|
|||
Information Technology - 0.1%
|
|||
IT Services - 0.1%
|
|||
Shopify Inc Class A (p)
|
103,100
|
12,233,259
|
|
FRANCE - 0.0%
|
|||
Communication Services - 0.0%
|
|||
Media - 0.0%
|
|||
Altice France Holding SA (e)
|
420,857
|
6,241,123
|
|
Consumer Discretionary - 0.0%
|
|||
Textiles, Apparel & Luxury Goods - 0.0%
|
|||
LVMH Moet Hennessy Louis Vuitton SE
|
4,400
|
2,405,258
|
|
TOTAL FRANCE
|
8,646,381
|
||
HONG KONG - 0.0%
|
|||
Consumer Discretionary - 0.0%
|
|||
Hotels, Restaurants & Leisure - 0.0%
|
|||
Studio City International Holdings Ltd ADR (p)
|
133,400
|
324,162
|
|
Studio City International Holdings Ltd ADR (n)(p)
|
121,177
|
294,460
|
|
TOTAL HONG KONG
|
618,622
|
||
LUXEMBOURG - 0.0%
|
|||
Materials - 0.0%
|
|||
Containers & Packaging - 0.0%
|
|||
Kloeckner Pentaplast GmbH (e)
|
65,007
|
1
|
|
Metals & Mining - 0.0%
|
|||
Algoma Steel Sca (e)(p)
|
151,792
|
1
|
|
TOTAL LUXEMBOURG
|
2
|
||
NETHERLANDS - 0.0%
|
|||
Information Technology - 0.0%
|
|||
Semiconductors & Semiconductor Equipment - 0.0%
|
|||
NXP Semiconductors NV
|
19,800
|
3,897,828
|
|
TAIWAN - 0.4%
|
|||
Information Technology - 0.4%
|
|||
Semiconductors & Semiconductor Equipment - 0.4%
|
|||
Taiwan Semiconductor Manufacturing Co Ltd ADR
|
177,600
|
60,019,920
|
|
UNITED STATES - 7.0%
|
|||
Communication Services - 1.1%
|
|||
Interactive Media & Services - 0.7%
|
|||
Alphabet Inc Class A
|
164,600
|
47,332,376
|
|
Meta Platforms Inc Class A
|
89,200
|
51,033,996
|
|
98,366,372
|
|||
Media - 0.4%
|
|||
EchoStar Corp (p)(q)
|
205,059
|
24,006,257
|
|
EchoStar Corp Class A (p)(r)
|
338,100
|
39,581,367
|
|
iHeartMedia Inc Class A (p)
|
26
|
76
|
|
63,587,700
|
|||
TOTAL COMMUNICATION SERVICES
|
161,954,072
|
||
Consumer Discretionary - 0.3%
|
|||
Automobile Components - 0.0%
|
|||
UC Holdings Inc (e)(p)
|
560,355
|
6
|
|
Hotels, Restaurants & Leisure - 0.1%
|
|||
Boyd Gaming Corp
|
123,800
|
10,173,884
|
|
New Cotai LLC / New Cotai Capital Corp (e)(p)(q)
|
2,242,893
|
515,865
|
|
10,689,749
|
|||
Household Durables - 0.1%
|
|||
TopBuild Corp (p)
|
58,100
|
20,410,530
|
|
Specialty Retail - 0.1%
|
|||
Dick's Sporting Goods Inc
|
50,200
|
9,954,158
|
|
TOTAL CONSUMER DISCRETIONARY
|
41,054,443
|
||
Consumer Staples - 0.1%
|
|||
Beverages - 0.0%
|
|||
Celsius Holdings Inc (p)
|
104,700
|
3,714,756
|
|
Consumer Staples Distribution & Retail - 0.1%
|
|||
Southeastern Grocers LLC rights (e)(p)
|
584,047
|
6
|
|
US Foods Holding Corp (p)
|
85,100
|
7,847,071
|
|
7,847,077
|
|||
TOTAL CONSUMER STAPLES
|
11,561,833
|
||
Energy - 0.1%
|
|||
Energy Equipment & Services - 0.0%
|
|||
Forbes Energy Services Ltd (e)(p)
|
135,187
|
1
|
|
Superior Energy Services Inc Class A (e)(p)
|
66,115
|
6,356,957
|
|
6,356,958
|
|||
Oil, Gas & Consumable Fuels - 0.1%
|
|||
California Resources Corp
|
10,789
|
746,815
|
|
EP Energy Corp (e)(p)
|
611,545
|
1,015,165
|
|
Expand Energy Corp
|
977
|
107,254
|
|
Mesquite Energy Inc (e)(p)
|
446,377
|
10,235,418
|
|
Unit Corp
|
28,630
|
989,167
|
|
13,093,819
|
|||
TOTAL ENERGY
|
19,450,777
|
||
Financials - 0.8%
|
|||
Capital Markets - 0.0%
|
|||
Ares Management Corp Class A
|
41,400
|
4,516,740
|
|
KKR & Co Inc Class A
|
23,400
|
2,164,500
|
|
Moody's Corp
|
14,800
|
6,456,500
|
|
13,137,740
|
|||
Consumer Finance - 0.1%
|
|||
OneMain Holdings Inc
|
299,100
|
15,998,859
|
|
Financial Services - 0.5%
|
|||
Apollo Global Management Inc
|
210,000
|
23,398,200
|
|
Block Inc Class A (p)
|
143,100
|
8,611,758
|
|
Carnelian Point Holdings LP warrants 6/30/2027 (e)(p)
|
544
|
1,588
|
|
Mastercard Inc Class A
|
27,600
|
13,790,616
|
|
Visa Inc Class A
|
82,700
|
24,995,248
|
|
70,797,410
|
|||
Insurance - 0.2%
|
|||
Arthur J Gallagher & Co
|
112,100
|
24,278,618
|
|
TOTAL FINANCIALS
|
124,212,627
|
||
Health Care - 0.1%
|
|||
Health Care Equipment & Supplies - 0.0%
|
|||
Medline Inc Class A
|
27,800
|
1,237,099
|
|
Health Care Providers & Services - 0.1%
|
|||
Cano Health LLC warrants 6/28/2029 (e)(p)
|
4,969
|
6,808
|
|
Tenet Healthcare Corp (p)
|
36,500
|
6,887,915
|
|
6,894,723
|
|||
TOTAL HEALTH CARE
|
8,131,822
|
||
Industrials - 2.3%
|
|||
Building Products - 0.2%
|
|||
Carlisle Cos Inc
|
13,700
|
4,570,594
|
|
Simpson Manufacturing Co Inc
|
35,600
|
6,109,672
|
|
Trane Technologies PLC
|
33,500
|
13,960,790
|
|
24,641,056
|
|||
Construction & Engineering - 1.3%
|
|||
API Group Corp (p)
|
161,900
|
6,560,188
|
|
Comfort Systems USA Inc
|
73,100
|
100,804,169
|
|
Construction Partners Inc Class A (p)
|
64,900
|
7,211,688
|
|
EMCOR Group Inc
|
45,200
|
33,371,612
|
|
IES Holdings Inc (p)
|
86,100
|
41,024,067
|
|
WillScot Holdings Corp
|
568,000
|
9,860,480
|
|
198,832,204
|
|||
Electrical Equipment - 0.7%
|
|||
Eaton Corp PLC
|
60,500
|
21,639,035
|
|
Nextpower Inc Class A (p)
|
177,900
|
21,445,845
|
|
nVent Electric PLC
|
114,000
|
13,483,920
|
|
Vertiv Holdings Co Class A
|
187,600
|
47,008,808
|
|
103,577,608
|
|||
Ground Transportation - 0.0%
|
|||
Uber Technologies Inc (p)
|
135,900
|
9,775,287
|
|
Machinery - 0.1%
|
|||
Parker-Hannifin Corp
|
20,300
|
18,173,372
|
|
Passenger Airlines - 0.0%
|
|||
Spirit Aviation Holdings Inc (p)(r)
|
150,692
|
37,673
|
|
Spirit Aviation Holdings Inc (p)
|
32,618
|
8,155
|
|
45,828
|
|||
Trading Companies & Distributors - 0.0%
|
|||
Penhall Acquisition Company (e)(p)
|
15,403
|
0
|
|
TOTAL INDUSTRIALS
|
355,045,355
|
||
Information Technology - 1.7%
|
|||
Communications Equipment - 0.1%
|
|||
Arista Networks Inc (p)
|
136,800
|
16,796,304
|
|
Electronic Equipment, Instruments & Components - 0.1%
|
|||
Coherent Corp (p)
|
56,300
|
13,411,223
|
|
IT Services - 0.0%
|
|||
GTT Communications Inc (e)(p)
|
51,638
|
1,846,059
|
|
Semiconductors & Semiconductor Equipment - 1.2%
|
|||
KLA Corp
|
18,700
|
27,534,067
|
|
Marvell Technology Inc
|
86,600
|
8,577,730
|
|
Micron Technology Inc
|
48,900
|
16,520,376
|
|
NVIDIA Corp
|
626,000
|
109,174,400
|
|
ON Semiconductor Corp (p)
|
244,291
|
15,126,499
|
|
Wolfspeed Inc (r)
|
410,473
|
6,698,919
|
|
183,631,991
|
|||
Software - 0.3%
|
|||
Fair Isaac Corp (p)
|
6,300
|
6,725,502
|
|
Microsoft Corp
|
60,500
|
22,395,285
|
|
Monday.com Ltd (p)
|
53,900
|
3,725,029
|
|
Palantir Technologies Inc Class A (p)
|
71,800
|
10,502,904
|
|
Terawulf Inc (p)
|
428,100
|
6,177,483
|
|
49,526,203
|
|||
TOTAL INFORMATION TECHNOLOGY
|
265,211,780
|
||
Materials - 0.1%
|
|||
Construction Materials - 0.1%
|
|||
Eagle Materials Inc
|
16,500
|
3,125,925
|
|
James Hardie Industries PLC (p)
|
389,200
|
7,371,448
|
|
Martin Marietta Materials Inc
|
10,000
|
5,886,800
|
|
16,384,173
|
|||
Metals & Mining - 0.0%
|
|||
Elah Holdings Inc (p)
|
517
|
7,187
|
|
TOTAL MATERIALS
|
16,391,360
|
||
Utilities - 0.4%
|
|||
Electric Utilities - 0.1%
|
|||
Constellation Energy Corp
|
78,800
|
22,004,900
|
|
Portland General Electric Co
|
13,962
|
736,775
|
|
22,741,675
|
|||
Independent Power and Renewable Electricity Producers - 0.3%
|
|||
PureWest Energy LLC (e)(p)
|
10,774
|
2,422
|
|
Vistra Corp
|
287,300
|
43,189,809
|
|
43,192,231
|
|||
TOTAL UTILITIES
|
65,933,906
|
||
TOTAL UNITED STATES
|
1,068,947,975
|
||
|
TOTAL COMMON STOCKS
(Cost $674,553,152)
|
1,154,363,987
|
||
Convertible Corporate Bonds - 0.6%
|
|||
Principal
Amount (a)
|
Value ($)
|
||
UNITED STATES - 0.6%
|
|||
Communication Services - 0.5%
|
|||
Media - 0.5%
|
|||
EchoStar Corp 3.875% 11/30/2030 pay-in-kind (c)
|
18,687,421
|
66,753,337
|
|
Consumer Discretionary - 0.0%
|
|||
Hotels, Restaurants & Leisure - 0.0%
|
|||
New Cotai LLC 5% 2/24/2027 (e)
|
3,123,014
|
3,274,792
|
|
Financials - 0.0%
|
|||
Capital Markets - 0.0%
|
|||
Coinbase Global Inc 0.25% 4/1/2030
|
3,680,000
|
3,409,520
|
|
Information Technology - 0.1%
|
|||
Semiconductors & Semiconductor Equipment - 0.1%
|
|||
Wolfspeed Inc 2.5% 6/15/2031 (n)
|
4,436,000
|
6,326,845
|
|
Wolfspeed Inc 2.5% 6/15/2031
|
3,923,000
|
5,595,179
|
|
TOTAL INFORMATION TECHNOLOGY
|
11,922,024
|
||
TOTAL UNITED STATES
|
85,359,673
|
||
|
TOTAL CONVERTIBLE CORPORATE BONDS
(Cost $34,097,419)
|
85,359,673
|
||
Convertible Preferred Stocks - 0.5%
|
|||
Shares
|
Value ($)
|
||
UNITED STATES - 0.5%
|
|||
Financials - 0.5%
|
|||
Capital Markets - 0.1%
|
|||
Ares Management Corp 6.75% Series B
|
386,513
|
14,285,520
|
|
Financial Services - 0.4%
|
|||
Acrisure Holdings Inc Series A-2 (e)
|
2,286,756
|
65,675,633
|
|
TOTAL UNITED STATES
|
79,961,153
|
||
|
TOTAL CONVERTIBLE PREFERRED STOCKS
(Cost $68,876,933)
|
79,961,153
|
||
Fixed-Income Funds - 23.2%
|
|||
Shares
|
Value ($)
|
||
Fidelity Emerging Markets Debt Central Fund (t)
|
283,957,937
|
2,365,369,619
|
|
Fidelity Floating Rate Central Fund (t)
|
10,785,359
|
1,013,608,008
|
|
iShares Broad USD High Yield Corporate Bond ETF (r)
|
5,013,200
|
184,686,288
|
|
|
TOTAL FIXED-INCOME FUNDS
(Cost $3,851,822,693)
|
3,563,663,915
|
||
Foreign Government and Government Agency Obligations - 8.1%
|
|||
Principal
Amount (a)
|
Value ($)
|
||
AUSTRALIA - 0.4%
|
|||
Australian Commonwealth 0.5% 9/21/2026 (m)
|
AUD
|
49,380,000
|
33,454,430
|
Australian Commonwealth 1% 12/21/2030 (m)
|
AUD
|
1,000,000
|
584,760
|
Australian Commonwealth 4.25% 10/21/2036 (m)
|
AUD
|
48,000,000
|
31,188,829
|
Australian Commonwealth 4.75% 6/21/2054 (m)
|
AUD
|
100,000
|
63,248
|
TOTAL AUSTRALIA
|
65,291,267
|
||
CANADA - 1.1%
|
|||
Canadian Government 3.25% 6/1/2035
|
CAD
|
234,000,000
|
165,830,321
|
GERMANY - 4.5%
|
|||
German Federal Republic 1.9% 9/16/2027 (m)
|
EUR
|
70,000,000
|
80,123,678
|
German Federal Republic 2% 12/10/2026 (m)
|
EUR
|
18,010,000
|
20,754,636
|
German Federal Republic 2.4% 4/18/2030 (m)
|
EUR
|
144,000,000
|
164,898,360
|
German Federal Republic 2.5% 2/15/2035 (m)
|
EUR
|
39,420,000
|
44,066,706
|
German Federal Republic 2.5% 8/15/2054 (m)
|
EUR
|
40,000
|
38,506
|
German Federal Republic 2.6% 8/15/2035 (m)
|
EUR
|
93,550,000
|
104,807,997
|
German Federal Republic 2.7% 9/17/2026 (m)
|
EUR
|
71,480,000
|
82,777,301
|
German Federal Republic 2.9% 2/15/2036 (m)
|
EUR
|
163,870,000
|
188,597,323
|
TOTAL GERMANY
|
686,064,507
|
||
ITALY - 0.1%
|
|||
Italian Republic 4.65% 10/1/2055 (m)(n)
|
EUR
|
16,000,000
|
18,774,000
|
JAPAN - 0.1%
|
|||
Japan Government 0.7% 12/20/2048
|
JPY
|
4,000,000,000
|
14,387,381
|
SINGAPORE - 0.1%
|
|||
Republic of Singapore 2.75% 3/1/2035
|
SGD
|
20,000,000
|
16,174,847
|
SPAIN - 0.1%
|
|||
Spanish Kingdom 4% 10/31/2054 (m)(n)
|
EUR
|
16,000,000
|
18,190,667
|
SWITZERLAND - 0.3%
|
|||
Swiss Confederation 3.5% 4/8/2033 (m)
|
CHF
|
30,000,000
|
46,012,648
|
UNITED KINGDOM - 1.4%
|
|||
United Kingdom of Great Britain and Northern Ireland 4.125% 3/7/2031 (m)
|
GBP
|
160,000,000
|
208,565,129
|
|
TOTAL FOREIGN GOVERNMENT AND GOVERNMENT AGENCY OBLIGATIONS
(Cost $1,251,168,158)
|
1,239,290,767
|
||
Non-Convertible Corporate Bonds - 20.3%
|
|||
Principal
Amount (a)
|
Value ($)
|
||
AUSTRALIA - 0.2%
|
|||
Materials - 0.2%
|
|||
Metals & Mining - 0.2%
|
|||
Fortescue Treasury Pty Ltd 4.375% 4/1/2031 (n)
|
2,474,000
|
2,338,082
|
|
Fortescue Treasury Pty Ltd 4.5% 9/15/2027 (n)
|
5,450,000
|
5,396,426
|
|
Mineral Resources Ltd 7% 4/1/2031 (n)
|
3,585,000
|
3,663,028
|
|
Mineral Resources Ltd 8% 11/1/2027 (n)
|
5,070,000
|
5,134,740
|
|
Mineral Resources Ltd 8.5% 5/1/2030 (n)
|
8,767,000
|
9,012,177
|
|
Mineral Resources Ltd 9.25% 10/1/2028 (n)
|
9,448,000
|
9,789,285
|
|
TOTAL AUSTRALIA
|
35,333,738
|
||
BELGIUM - 0.1%
|
|||
Communication Services - 0.1%
|
|||
Diversified Telecommunication Services - 0.1%
|
|||
Telenet Finance Luxembourg Notes Sarl 5.5% 3/1/2028 (n)
|
9,200,000
|
9,028,075
|
|
BRAZIL - 0.0%
|
|||
Materials - 0.0%
|
|||
Metals & Mining - 0.0%
|
|||
ERO Copper Corp 6.5% 2/15/2030 (n)
|
4,180,000
|
4,137,740
|
|
CANADA - 0.6%
|
|||
Consumer Discretionary - 0.3%
|
|||
Hotels, Restaurants & Leisure - 0.3%
|
|||
1011778 BC ULC / New Red Finance Inc 3.875% 1/15/2028 (n)
|
5,685,000
|
5,556,968
|
|
1011778 BC ULC / New Red Finance Inc 4% 10/15/2030 (n)
|
23,490,000
|
22,078,843
|
|
1011778 BC ULC / New Red Finance Inc 4.375% 1/15/2028 (n)
|
6,265,000
|
6,177,239
|
|
33,813,050
|
|||
Household Durables - 0.0%
|
|||
Brookfield Residential Properties Inc / Brookfield Residential US LLC 4.875% 2/15/2030 (n)
|
4,370,000
|
4,012,237
|
|
TOTAL CONSUMER DISCRETIONARY
|
37,825,287
|
||
Energy - 0.0%
|
|||
Oil, Gas & Consumable Fuels - 0.0%
|
|||
Teine Energy Ltd 6.875% 4/15/2029 (n)
|
4,420,000
|
4,418,304
|
|
Industrials - 0.1%
|
|||
Aerospace & Defense - 0.1%
|
|||
Bombardier Inc 7.25% 7/1/2031 (n)
|
2,610,000
|
2,735,063
|
|
Bombardier Inc 8.75% 11/15/2030 (n)
|
4,055,000
|
4,312,663
|
|
7,047,726
|
|||
Machinery - 0.0%
|
|||
ATS Corp 4.125% 12/15/2028 (n)
|
4,630,000
|
4,462,039
|
|
Passenger Airlines - 0.0%
|
|||
Air Canada 3.875% 8/15/2026 (n)
|
4,230,000
|
4,208,916
|
|
TOTAL INDUSTRIALS
|
15,718,681
|
||
Information Technology - 0.1%
|
|||
Software - 0.1%
|
|||
Open Text Corp 6.9% 12/1/2027 (n)
|
5,000,000
|
5,131,895
|
|
Open Text Holdings Inc 4.125% 12/1/2031 (n)
|
2,490,000
|
2,124,943
|
|
Open Text Holdings Inc 4.125% 2/15/2030 (n)
|
3,220,000
|
2,877,161
|
|
TOTAL INFORMATION TECHNOLOGY
|
10,133,999
|
||
Materials - 0.1%
|
|||
Chemicals - 0.1%
|
|||
NOVA Chemicals Corp 8.5% 11/15/2028 (n)
|
3,635,000
|
3,778,005
|
|
Containers & Packaging - 0.0%
|
|||
Cascades Inc/Cascades USA Inc 5.375% 1/15/2028 (n)
|
3,310,000
|
3,276,896
|
|
Metals & Mining - 0.0%
|
|||
Hudbay Minerals Inc 4.5% 4/1/2026 (n)
|
3,600,000
|
3,600,000
|
|
TOTAL MATERIALS
|
10,654,901
|
||
TOTAL CANADA
|
78,751,172
|
||
COLOMBIA - 0.0%
|
|||
Energy - 0.0%
|
|||
Oil, Gas & Consumable Fuels - 0.0%
|
|||
Gran Tierra Energy Inc 9.75% 4/15/2031 (n)
|
2,639,000
|
2,305,826
|
|
FRANCE - 0.4%
|
|||
Communication Services - 0.4%
|
|||
Diversified Telecommunication Services - 0.4%
|
|||
Altice France SA 6.5% 10/15/2031 (n)
|
964,177
|
914,289
|
|
Altice France SA 6.5% 4/15/2032 (n)
|
32,580,059
|
30,789,595
|
|
Altice France SA 6.875% 10/15/2030 (n)
|
7,492,385
|
7,166,775
|
|
Altice France SA 6.875% 7/15/2032 (n)
|
22,877,306
|
21,676,899
|
|
TOTAL COMMUNICATION SERVICES
|
60,547,558
|
||
Energy - 0.0%
|
|||
Energy Equipment & Services - 0.0%
|
|||
Vallourec SACA 7.5% 4/15/2032 (n)
|
4,725,000
|
4,952,263
|
|
TOTAL FRANCE
|
65,499,821
|
||
GUATEMALA - 0.0%
|
|||
Communication Services - 0.0%
|
|||
Wireless Telecommunication Services - 0.0%
|
|||
Millicom International Cellular SA 4.5% 4/27/2031 (n)
|
1,040,000
|
945,724
|
|
HONG KONG - 0.0%
|
|||
Industrials - 0.0%
|
|||
Marine Transportation - 0.0%
|
|||
Seaspan Corp 5.5% 8/1/2029 (n)
|
4,240,000
|
3,972,561
|
|
ISRAEL - 0.0%
|
|||
Health Care - 0.0%
|
|||
Pharmaceuticals - 0.0%
|
|||
Teva Pharmaceutical Finance Netherlands III BV 4.75% 5/9/2027
|
1,681,000
|
1,676,719
|
|
Teva Pharmaceutical Finance Netherlands III BV 5.125% 5/9/2029
|
2,775,000
|
2,764,370
|
|
TOTAL ISRAEL
|
4,441,089
|
||
LUXEMBOURG - 0.0%
|
|||
Materials - 0.0%
|
|||
Metals & Mining - 0.0%
|
|||
Algoma Steel Sca 0% 12/31/2049 (e)
|
1,517,920
|
0
|
|
MACAU - 0.0%
|
|||
Consumer Discretionary - 0.0%
|
|||
Hotels, Restaurants & Leisure - 0.0%
|
|||
Studio City Finance Ltd 5% 1/15/2029 (n)
|
3,255,000
|
3,051,139
|
|
MEXICO - 0.0%
|
|||
Energy - 0.0%
|
|||
Energy Equipment & Services - 0.0%
|
|||
Borr IHC Ltd / Borr Finance LLC 10% 11/15/2028 (n)
|
3,478,659
|
3,552,580
|
|
Borr IHC Ltd / Borr Finance LLC 10.375% 11/15/2030 (n)
|
1,227,961
|
1,241,358
|
|
TOTAL MEXICO
|
4,793,938
|
||
NETHERLANDS - 0.1%
|
|||
Communication Services - 0.1%
|
|||
Media - 0.1%
|
|||
VZ Secured Financing BV 5% 1/15/2032 (n)
|
11,130,000
|
9,541,401
|
|
Ziggo BV 4.875% 1/15/2030 (n)
|
4,805,000
|
4,485,769
|
|
TOTAL NETHERLANDS
|
14,027,170
|
||
NORWAY - 0.0%
|
|||
Energy - 0.0%
|
|||
Energy Equipment & Services - 0.0%
|
|||
Seadrill Finance Ltd 8.375% 8/1/2030 (n)
|
5,560,000
|
5,749,947
|
|
SPAIN - 0.0%
|
|||
Health Care - 0.0%
|
|||
Biotechnology - 0.0%
|
|||
Grifols SA 4.75% 10/15/2028 (n)
|
2,795,000
|
2,736,592
|
|
Utilities - 0.0%
|
|||
Independent Power and Renewable Electricity Producers - 0.0%
|
|||
Atlantica Sustainable Infrastructure Ltd 4.125% 6/15/2028 (n)
|
2,852,000
|
2,766,347
|
|
TOTAL SPAIN
|
5,502,939
|
||
SWITZERLAND - 0.0%
|
|||
Materials - 0.0%
|
|||
Chemicals - 0.0%
|
|||
Consolidated Energy Finance SA 12% 2/15/2031 (n)
|
4,240,000
|
4,176,400
|
|
TURKEY - 0.0%
|
|||
Materials - 0.0%
|
|||
Metals & Mining - 0.0%
|
|||
Eldorado Gold Corp 6.25% 9/1/2029 (n)
|
4,225,000
|
4,209,706
|
|
UNITED KINGDOM - 0.7%
|
|||
Communication Services - 0.2%
|
|||
Wireless Telecommunication Services - 0.2%
|
|||
Vmed O2 UK Financing I PLC 4.75% 7/15/2031 (n)
|
9,930,000
|
8,551,151
|
|
Consumer Discretionary - 0.0%
|
|||
Automobile Components - 0.0%
|
|||
Macquarie Airfinance Holdings Ltd 6.4% 3/26/2029 (n)
|
1,805,000
|
1,869,981
|
|
Macquarie Airfinance Holdings Ltd 6.5% 3/26/2031 (n)
|
2,760,000
|
2,890,322
|
|
TOTAL CONSUMER DISCRETIONARY
|
4,760,303
|
||
Energy - 0.5%
|
|||
Oil, Gas & Consumable Fuels - 0.5%
|
|||
EG Global Finance PLC 12% 11/30/2028 (n)
|
54,325,000
|
58,118,569
|
|
Financials - 0.0%
|
|||
Insurance - 0.0%
|
|||
Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC 8.125% 2/15/2032 (n)
|
4,015,000
|
3,760,849
|
|
Health Care - 0.0%
|
|||
Health Care Providers & Services - 0.0%
|
|||
180 Medical Inc 3.875% 10/15/2029 (n)
|
2,995,000
|
2,909,617
|
|
Industrials - 0.0%
|
|||
Aerospace & Defense - 0.0%
|
|||
Rolls-Royce PLC 5.75% 10/15/2027 (n)
|
6,560,000
|
6,662,549
|
|
TOTAL UNITED KINGDOM
|
84,763,038
|
||
UNITED STATES - 18.1%
|
|||
Communication Services - 2.1%
|
|||
Diversified Telecommunication Services - 0.4%
|
|||
APLD ComputeCo LLC 9.25% 12/15/2030 (n)
|
13,390,000
|
13,796,012
|
|
Black Pearl Compute LLC 6.125% 2/15/2031 (n)
|
3,985,000
|
4,055,920
|
|
Cipher Compute LLC 7.125% 11/15/2030 (n)
|
5,815,000
|
6,024,509
|
|
Frontier Communications Holdings LLC 5% 5/1/2028 (n)
|
11,730,000
|
11,728,162
|
|
Level 3 Financing Inc 7% 3/31/2034 (n)
|
18,025,000
|
18,450,136
|
|
WULF Compute LLC 7.75% 10/15/2030 (n)
|
13,240,000
|
13,990,443
|
|
68,045,182
|
|||
Entertainment - 0.1%
|
|||
OAK-Eagle Acquireco Inc 7.25% 7/1/2033 (i)(n)
|
11,485,000
|
11,899,545
|
|
ROBLOX Corp 3.875% 5/1/2030 (n)
|
4,175,000
|
3,923,593
|
|
15,823,138
|
|||
Interactive Media & Services - 0.1%
|
|||
Alphabet Inc 4.375% 11/6/2064
|
EUR
|
14,219,000
|
15,510,318
|
Media - 1.5%
|
|||
CSC Holdings LLC 3.375% 2/15/2031 (n)
|
12,420,000
|
7,296,099
|
|
CSC Holdings LLC 4.125% 12/1/2030 (n)
|
11,785,000
|
7,072,044
|
|
CSC Holdings LLC 4.5% 11/15/2031 (n)
|
28,630,000
|
16,974,974
|
|
CSC Holdings LLC 6.5% 2/1/2029 (n)
|
6,615,000
|
4,215,968
|
|
DISH Network Corp 11.75% 11/15/2027 (n)
|
27,490,000
|
28,321,435
|
|
EchoStar Corp 10.75% 11/30/2029
|
68,356,699
|
73,842,377
|
|
EchoStar Corp 6.75% 11/30/2030 pay-in-kind (c)
|
21,074,568
|
21,280,214
|
|
Nexstar Media Inc 6.5% 9/15/2033 (n)
|
10,600,000
|
10,680,761
|
|
Scripps Escrow II Inc 3.875% 1/15/2029 (n)
|
1,655,000
|
1,530,784
|
|
Sirius XM Radio LLC 3.875% 9/1/2031 (n)
|
5,645,000
|
5,125,201
|
|
Sirius XM Radio LLC 4% 7/15/2028 (n)
|
4,890,000
|
4,720,126
|
|
Sirius XM Radio LLC 5% 8/1/2027 (n)
|
3,842,000
|
3,836,637
|
|
Univision Communications Inc 4.5% 5/1/2029 (n)
|
5,760,000
|
5,411,471
|
|
Univision Communications Inc 7.375% 6/30/2030 (n)
|
22,095,000
|
21,651,328
|
|
Univision Communications Inc 8.5% 7/31/2031 (n)
|
18,175,000
|
18,263,694
|
|
230,223,113
|
|||
TOTAL COMMUNICATION SERVICES
|
329,601,751
|
||
Consumer Discretionary - 2.2%
|
|||
Automobile Components - 0.1%
|
|||
Adient Global Holdings Ltd 7% 4/15/2028 (n)
|
2,805,000
|
2,841,919
|
|
Clarios Global LP / Clarios US Finance Co 6.75% 5/15/2028 (n)
|
5,595,000
|
5,649,445
|
|
Dana Inc 4.5% 2/15/2032
|
2,235,000
|
2,085,709
|
|
Hertz Corp/The 12.625% 7/15/2029 (n)
|
1,245,000
|
1,092,430
|
|
Hertz Corp/The 5.5% (e)(g)(s)
|
6,540,000
|
1
|
|
Hertz Corp/The 6% (e)(g)(s)
|
5,785,000
|
0
|
|
Hertz Corp/The 6.25% (e)(g)(s)
|
6,775,000
|
1
|
|
Hertz Corp/The 7.125% (e)(g)(s)
|
6,315,000
|
1
|
|
Nesco Holdings II Inc 5.5% 4/15/2029 (n)
|
7,155,000
|
6,997,434
|
|
18,666,940
|
|||
Automobiles - 0.0%
|
|||
Nissan Motor Acceptance Co LLC 2.45% 9/15/2028 (n)
|
1,635,000
|
1,494,267
|
|
Nissan Motor Acceptance Co LLC 5.55% 9/13/2029 (n)
|
1,845,000
|
1,778,468
|
|
Nissan Motor Acceptance Co LLC 7.05% 9/15/2028 (n)
|
820,000
|
832,783
|
|
4,105,518
|
|||
Broadline Retail - 0.1%
|
|||
ANGI Group LLC 3.875% 8/15/2028 (n)
|
3,385,000
|
3,012,989
|
|
Wayfair LLC 6.75% 11/15/2032 (n)
|
4,190,000
|
4,221,810
|
|
Wayfair LLC 7.25% 10/31/2029 (n)
|
5,635,000
|
5,752,118
|
|
12,986,917
|
|||
Distributors - 0.0%
|
|||
Windsor Holdings III LLC 8.5% 6/15/2030 (n)
|
2,790,000
|
2,890,080
|
|
Diversified Consumer Services - 0.1%
|
|||
Service Corp International/US 4% 5/15/2031
|
5,750,000
|
5,356,118
|
|
TKC Holdings Inc 8.5% 8/15/2030 (n)
|
14,215,000
|
14,333,482
|
|
19,689,600
|
|||
Hotels, Restaurants & Leisure - 1.2%
|
|||
Bloomin' Brands Inc / OSI Restaurant Partners LLC 5.125% 4/15/2029 (n)
|
2,720,000
|
2,409,408
|
|
Boyd Gaming Corp 4.75% 6/15/2031 (n)
|
7,140,000
|
6,788,812
|
|
Carnival Corp 4% 8/1/2028 (n)
|
26,560,000
|
25,899,498
|
|
Carnival Corp 5.125% 5/1/2029 (n)
|
5,400,000
|
5,353,693
|
|
Carnival Corp 5.875% 6/15/2031 (n)
|
4,135,000
|
4,185,823
|
|
Carnival Corp 7% 8/15/2029 (n)
|
2,830,000
|
2,935,704
|
|
Churchill Downs Inc 5.75% 4/1/2030 (n)
|
6,975,000
|
6,898,014
|
|
Churchill Downs Inc 6.75% 5/1/2031 (n)
|
5,595,000
|
5,700,192
|
|
Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc 4.625% 1/15/2029 (n)
|
11,750,000
|
11,229,795
|
|
Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc 6.75% 1/15/2030 (n)
|
15,885,000
|
14,837,422
|
|
Hilton Domestic Operating Co Inc 3.75% 5/1/2029 (n)
|
3,350,000
|
3,206,771
|
|
Hilton Domestic Operating Co Inc 4% 5/1/2031 (n)
|
5,020,000
|
4,707,021
|
|
Hilton Domestic Operating Co Inc 4.875% 1/15/2030
|
11,025,000
|
10,858,513
|
|
Hilton Domestic Operating Co Inc 5.5% 3/31/2034 (n)
|
4,040,000
|
3,946,987
|
|
Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp 4.875% 4/1/2027
|
5,210,000
|
5,206,782
|
|
Jacobs Entertainment Inc 6.75% 2/15/2029 (n)
|
3,955,000
|
3,697,925
|
|
Light & Wonder International Inc 7.5% 9/1/2031 (n)
|
2,745,000
|
2,817,194
|
|
Lindblad Expeditions LLC 7% 9/15/2030 (n)
|
3,685,000
|
3,762,352
|
|
MGM Resorts International 4.75% 10/15/2028
|
6,740,000
|
6,613,939
|
|
Mohegan Tribal Gaming Authority / MS Digital Entertainment Holdings LLC 8.25% 4/15/2030 (n)
|
7,610,000
|
7,790,585
|
|
Neogen Food Safety Corp 8.625% 7/20/2030 (n)
|
2,545,000
|
2,673,075
|
|
Papa John's International Inc 3.875% 9/15/2029 (n)
|
2,555,000
|
2,421,364
|
|
Premier Entertainment Sub LLC / Premier Entertainment Finance Corp 5.625% 9/1/2029 (n)
|
5,095,000
|
3,107,950
|
|
Premier Entertainment Sub LLC / Premier Entertainment Finance Corp 5.875% 9/1/2031 (n)
|
1,015,000
|
558,250
|
|
Royal Caribbean Cruises Ltd 5.375% 7/15/2027 (n)
|
4,165,000
|
4,180,730
|
|
Royal Caribbean Cruises Ltd 6.25% 3/15/2032 (n)
|
5,295,000
|
5,413,522
|
|
Station Casinos LLC 4.625% 12/1/2031 (n)
|
4,155,000
|
3,879,482
|
|
VOC Escrow Ltd 5% 2/15/2028 (n)
|
10,470,000
|
10,426,891
|
|
Yum! Brands Inc 4.625% 1/31/2032
|
5,905,000
|
5,629,006
|
|
177,136,700
|
|||
Household Durables - 0.3%
|
|||
Ashton Woods USA LLC / Ashton Woods Finance Co 4.625% 4/1/2030 (n)
|
4,105,000
|
3,809,973
|
|
Installed Building Products Inc 5.625% 2/1/2034 (n)
|
4,010,000
|
3,912,942
|
|
LGI Homes Inc 8.75% 12/15/2028 (n)
|
2,680,000
|
2,741,993
|
|
Somnigroup International Inc 3.875% 10/15/2031 (n)
|
7,360,000
|
6,691,370
|
|
Somnigroup International Inc 4% 4/15/2029 (n)
|
7,905,000
|
7,601,865
|
|
TopBuild Corp 3.625% 3/15/2029 (n)
|
3,030,000
|
2,885,424
|
|
TopBuild Corp 5.625% 1/31/2034 (n)
|
4,055,000
|
3,968,920
|
|
Tri Pointe Homes Inc 5.7% 6/15/2028
|
8,715,000
|
8,788,328
|
|
40,400,815
|
|||
Specialty Retail - 0.4%
|
|||
Asbury Automotive Group Inc 4.5% 3/1/2028
|
1,987,000
|
1,951,234
|
|
Asbury Automotive Group Inc 4.625% 11/15/2029 (n)
|
4,555,000
|
4,403,457
|
|
Asbury Automotive Group Inc 4.75% 3/1/2030
|
1,980,000
|
1,908,015
|
|
Asbury Automotive Group Inc 5% 2/15/2032 (n)
|
4,915,000
|
4,654,564
|
|
Bath & Body Works Inc 6.625% 10/1/2030 (n)
|
6,650,000
|
6,712,656
|
|
Bath & Body Works Inc 6.75% 7/1/2036
|
8,920,000
|
8,553,089
|
|
Bath & Body Works Inc 7.5% 6/15/2029
|
5,030,000
|
5,090,526
|
|
LBM Acquisition LLC 9.5% 6/15/2031 (n)
|
8,405,000
|
7,316,104
|
|
LCM Investments Holdings II LLC 8.25% 8/1/2031 (n)
|
3,345,000
|
3,474,602
|
|
Park River Holdings Inc 8% 3/15/2031 (n)
|
2,480,000
|
2,468,547
|
|
PetSmart LLC / PetSmart Finance Corp 7.5% 9/15/2032 (n)
|
6,770,000
|
6,802,970
|
|
Wand NewCo 3 Inc 7.625% 1/30/2032 (n)
|
5,325,000
|
5,444,796
|
|
58,780,560
|
|||
Textiles, Apparel & Luxury Goods - 0.0%
|
|||
Crocs Inc 4.125% 8/15/2031 (n)
|
2,820,000
|
2,537,530
|
|
Crocs Inc 4.25% 3/15/2029 (n)
|
4,325,000
|
4,151,203
|
|
Kontoor Brands Inc 4.125% 11/15/2029 (n)
|
2,420,000
|
2,286,842
|
|
8,975,575
|
|||
TOTAL CONSUMER DISCRETIONARY
|
343,632,705
|
||
Consumer Staples - 0.8%
|
|||
Beverages - 0.0%
|
|||
Primo Water Holdings Inc / Triton Water Holdings Inc 6.25% 4/1/2029 (n)
|
3,135,000
|
3,140,082
|
|
Consumer Staples Distribution & Retail - 0.5%
|
|||
Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC 3.5% 3/15/2029 (n)
|
5,285,000
|
5,041,573
|
|
Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC 4.875% 2/15/2030 (n)
|
23,423,000
|
22,927,289
|
|
C&S Group Enterprises LLC 5% 12/15/2028 (n)
|
5,155,000
|
4,793,757
|
|
KeHE Distributors LLC / KeHE Finance Corp / NextWave Distribution Inc 9% 2/15/2029 (n)
|
14,850,000
|
15,459,593
|
|
Performance Food Group Inc 4.25% 8/1/2029 (n)
|
3,955,000
|
3,799,032
|
|
Performance Food Group Inc 5.625% 3/1/2034 (n)
|
5,315,000
|
5,126,277
|
|
US Foods Inc 7.25% 1/15/2032 (n)
|
2,735,000
|
2,830,088
|
|
59,977,609
|
|||
Food Products - 0.3%
|
|||
Chobani LLC / Chobani Finance Corp Inc 4.625% 11/15/2028 (n)
|
3,790,000
|
3,725,669
|
|
Darling Ingredients Inc 6% 6/15/2030 (n)
|
6,615,000
|
6,661,226
|
|
Fiesta Purchaser Inc 7.875% 3/1/2031 (n)
|
5,015,000
|
5,105,586
|
|
Fiesta Purchaser Inc 9.625% 9/15/2032 (n)
|
3,185,000
|
3,243,830
|
|
Lamb Weston Holdings Inc 4.125% 1/31/2030 (n)
|
5,575,000
|
5,307,661
|
|
Lamb Weston Holdings Inc 4.375% 1/31/2032 (n)
|
2,790,000
|
2,591,777
|
|
Post Holdings Inc 4.5% 9/15/2031 (n)
|
12,110,000
|
11,260,016
|
|
Post Holdings Inc 4.625% 4/15/2030 (n)
|
6,415,000
|
6,158,430
|
|
Simmons Foods Inc/Simmons Prepared Foods Inc/Simmons Pet Food Inc/Simmons Feed 4.625% 3/1/2029 (n)
|
4,295,000
|
4,133,448
|
|
48,187,643
|
|||
Household Products - 0.0%
|
|||
Spectrum Brands Inc 3.875% 3/15/2031 (n)
|
1,025,000
|
884,694
|
|
Personal Care Products - 0.0%
|
|||
BellRing Brands Inc 7% 3/15/2030 (n)
|
6,925,000
|
6,926,801
|
|
TOTAL CONSUMER STAPLES
|
119,116,829
|
||
Energy - 2.8%
|
|||
Energy Equipment & Services - 0.3%
|
|||
Baker Hughes Holdings LLC / Baker Hughes Co-Obligor Inc 4.737% 3/11/2046
|
EUR
|
9,780,000
|
11,215,722
|
Diamond Foreign Asset Co / Diamond Finance LLC 8.5% 10/1/2030 (n)
|
2,461,000
|
2,599,904
|
|
Nabors Industries Inc 7.625% 11/15/2032 (n)
|
2,670,000
|
2,733,139
|
|
Nabors Industries Inc 9.125% 1/31/2030 (n)
|
5,390,000
|
5,659,451
|
|
Noble Finance II LLC 8% 4/15/2030 (n)
|
2,805,000
|
2,887,991
|
|
SESI LLC 7.875% 9/30/2030 (n)
|
2,700,000
|
2,753,222
|
|
Transocean International Ltd 7.875% 10/15/2032 (n)
|
1,835,000
|
1,959,567
|
|
Transocean International Ltd 8.25% 5/15/2029 (n)
|
1,955,000
|
2,020,186
|
|
Transocean International Ltd 8.5% 5/15/2031 (n)
|
1,955,000
|
2,050,400
|
|
Transocean International Ltd 8.75% 2/15/2030 (n)
|
7,826,000
|
8,140,551
|
|
Transocean Titan Financing Ltd 8.375% 2/1/2028 (n)
|
3,959,738
|
4,042,655
|
|
Valaris Ltd 8.375% 4/30/2030 (n)
|
2,745,000
|
2,844,344
|
|
48,907,132
|
|||
Oil, Gas & Consumable Fuels - 2.5%
|
|||
Antero Midstream Partners LP / Antero Midstream Finance Corp 5.375% 6/15/2029 (n)
|
4,305,000
|
4,291,197
|
|
Antero Midstream Partners LP / Antero Midstream Finance Corp 5.75% 1/15/2028 (n)
|
10,640,000
|
10,639,945
|
|
California Resources Corp 8.25% 6/15/2029 (n)
|
1,585,000
|
1,658,271
|
|
Chesapeake Energy Corp 7% (e)(g)
|
3,985,000
|
0
|
|
Chesapeake Energy Corp 8% (e)(g)
|
1,955,000
|
0
|
|
Chesapeake Energy Corp 8% (e)(g)
|
1,240,000
|
0
|
|
CITGO Petroleum Corp 8.375% 1/15/2029 (n)
|
12,030,000
|
12,423,189
|
|
CNX Midstream Partners LP 4.75% 4/15/2030 (n)
|
2,970,000
|
2,823,703
|
|
CNX Resources Corp 7.375% 1/15/2031 (n)
|
2,885,000
|
2,964,366
|
|
Comstock Resources Inc 5.875% 1/15/2030 (n)
|
15,170,000
|
14,678,026
|
|
Comstock Resources Inc 6.75% 3/1/2029 (n)
|
8,110,000
|
8,004,836
|
|
CQP Holdco LP / BIP-V Chinook Holdco LLC 5.5% 6/15/2031 (n)
|
12,715,000
|
12,400,210
|
|
CQP Holdco LP / BIP-V Chinook Holdco LLC 7.5% 12/15/2033 (n)
|
7,110,000
|
7,461,682
|
|
CVR Energy Inc 5.75% 2/15/2028 (n)
|
11,211,000
|
11,087,571
|
|
DT Midstream Inc 4.125% 6/15/2029 (n)
|
4,285,000
|
4,194,846
|
|
DT Midstream Inc 4.375% 6/15/2031 (n)
|
4,285,000
|
4,130,448
|
|
Energy Transfer LP 5.5% 6/1/2027
|
12,065,000
|
12,176,275
|
|
Expand Energy Corp 5.375% 3/15/2030
|
5,630,000
|
5,676,790
|
|
Expand Energy Corp 5.875% 2/1/2029 (n)
|
3,115,000
|
3,117,067
|
|
Expand Energy Corp 6.75% 4/15/2029 (n)
|
4,415,000
|
4,418,103
|
|
Global Partners LP / GLP Finance Corp 7.125% 7/1/2033 (n)
|
2,395,000
|
2,414,550
|
|
Global Partners LP / GLP Finance Corp 8.25% 1/15/2032 (n)
|
3,315,000
|
3,425,887
|
|
Hess Midstream Operations LP 4.25% 2/15/2030 (n)
|
4,590,000
|
4,410,702
|
|
Hess Midstream Operations LP 5.125% 6/15/2028 (n)
|
6,600,000
|
6,580,606
|
|
Hess Midstream Operations LP 5.5% 10/15/2030 (n)
|
2,775,000
|
2,753,067
|
|
HF Sinclair Corp 5% 2/1/2028
|
4,350,000
|
4,349,654
|
|
Hilcorp Energy I LP / Hilcorp Finance Co 6.25% 11/1/2028 (n)
|
7,130,000
|
7,144,289
|
|
Kinetik Holdings LP 5.875% 6/15/2030 (n)
|
4,180,000
|
4,195,378
|
|
Moss Creek Resources Holdings Inc 8.25% 9/1/2031 (n)
|
2,605,000
|
2,603,383
|
|
Murphy Oil USA Inc 4.75% 9/15/2029
|
4,155,000
|
4,098,068
|
|
Murphy Oil USA Inc 5.625% 5/1/2027
|
3,665,000
|
3,659,453
|
|
NGPL PipeCo LLC 4.875% 8/15/2027 (n)
|
1,800,000
|
1,803,671
|
|
Northern Oil & Gas Inc 7.875% 10/15/2033 (n)
|
4,990,000
|
5,162,918
|
|
Northern Oil & Gas Inc 8.75% 6/15/2031 (n)
|
5,510,000
|
5,729,546
|
|
Occidental Petroleum Corp 7.2% 3/15/2029
|
2,440,000
|
2,602,321
|
|
ONEOK Inc 6.5% 9/1/2030 (n)
|
8,635,000
|
9,140,319
|
|
PBF Holding Co LLC / PBF Finance Corp 6% 2/15/2028
|
15,760,000
|
15,688,330
|
|
PBF Holding Co LLC / PBF Finance Corp 7.875% 9/15/2030 (n)
|
11,525,000
|
11,835,161
|
|
PBF Holding Co LLC / PBF Finance Corp 9.875% 3/15/2030 (n)
|
6,695,000
|
7,176,765
|
|
Permian Resources Operating LLC 5.875% 7/1/2029 (n)
|
4,055,000
|
4,060,069
|
|
SM Energy Co 6.625% 1/15/2027
|
12,830,000
|
12,829,092
|
|
SM Energy Co 6.75% 9/15/2026
|
3,175,000
|
3,177,079
|
|
SM Energy Co 8.625% 11/1/2030 (n)
|
5,415,000
|
5,713,291
|
|
Sunoco LP / Sunoco Finance Corp 4.5% 4/30/2030
|
5,550,000
|
5,350,415
|
|
Sunoco LP / Sunoco Finance Corp 4.5% 5/15/2029
|
5,515,000
|
5,377,800
|
|
Sunoco LP / Sunoco Finance Corp 7% 9/15/2028 (n)
|
2,735,000
|
2,790,496
|
|
Sunoco LP 4.5% 10/1/2029 (n)
|
4,420,000
|
4,270,968
|
|
Sunoco LP 4.625% 5/1/2030 (n)
|
5,540,000
|
5,331,524
|
|
Sunoco LP 6.625% 8/15/2032 (n)
|
2,605,000
|
2,645,813
|
|
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp 5.5% 1/15/2028 (n)
|
280,000
|
277,631
|
|
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp 6% 9/1/2031 (n)
|
5,355,000
|
5,284,418
|
|
Talos Production Inc 9% 2/1/2029 (n)
|
2,345,000
|
2,440,941
|
|
Talos Production Inc 9.375% 2/1/2031 (n)
|
2,660,000
|
2,818,954
|
|
Targa Resources Partners LP / Targa Resources Partners Finance Corp 4.875% 2/1/2031
|
6,345,000
|
6,334,974
|
|
Unit Corp 0% 12/1/2029 (Escrow) (e)
|
1,660,000
|
0
|
|
Venture Global Calcasieu Pass LLC 3.875% 8/15/2029 (n)
|
3,525,000
|
3,350,650
|
|
Venture Global Calcasieu Pass LLC 4.125% 8/15/2031 (n)
|
3,525,000
|
3,269,809
|
|
Venture Global Plaquemines LNG LLC 6.125% 12/15/2030 (n)
|
4,030,000
|
4,144,557
|
|
Venture Global Plaquemines LNG LLC 6.5% 1/15/2034 (n)
|
21,820,000
|
22,746,134
|
|
Venture Global Plaquemines LNG LLC 6.5% 6/15/2034 (n)
|
4,240,000
|
4,413,636
|
|
Venture Global Plaquemines LNG LLC 6.75% 1/15/2036 (n)
|
13,790,000
|
14,605,706
|
|
Venture Global Plaquemines LNG LLC 7.5% 5/1/2033 (n)
|
6,025,000
|
6,622,704
|
|
Venture Global Plaquemines LNG LLC 7.75% 5/1/2035 (n)
|
6,155,000
|
6,898,389
|
|
361,675,643
|
|||
TOTAL ENERGY
|
410,582,775
|
||
Financials - 2.3%
|
|||
Capital Markets - 0.2%
|
|||
Broadstreet Partners Group LLC 5.875% 4/15/2029 (n)
|
7,265,000
|
7,080,195
|
|
Coinbase Global Inc 3.375% 10/1/2028 (n)
|
13,780,000
|
12,898,612
|
|
Coinbase Global Inc 3.625% 10/1/2031 (n)
|
8,370,000
|
7,073,920
|
|
Hightower Holding LLC 6.75% 4/15/2029 (n)
|
2,870,000
|
2,805,853
|
|
Jane Street Group / JSG Finance Inc 4.5% 11/15/2029 (n)
|
3,985,000
|
3,862,293
|
|
MSCI Inc 4% 11/15/2029 (n)
|
1,920,000
|
1,864,913
|
|
35,585,786
|
|||
Consumer Finance - 0.6%
|
|||
Ally Financial Inc 8% 11/1/2031
|
51,348,000
|
56,936,044
|
|
Ally Financial Inc 8% 11/1/2031
|
16,761,000
|
18,482,067
|
|
OneMain Finance Corp 4% 9/15/2030
|
3,340,000
|
3,016,297
|
|
OneMain Finance Corp 5.375% 11/15/2029
|
5,560,000
|
5,361,581
|
|
OneMain Finance Corp 6.625% 1/15/2028
|
4,415,000
|
4,445,194
|
|
OneMain Finance Corp 7.875% 3/15/2030
|
2,675,000
|
2,760,539
|
|
91,001,722
|
|||
Financial Services - 0.4%
|
|||
Block Inc 3.5% 6/1/2031
|
5,745,000
|
5,224,190
|
|
Block Inc 5.625% 8/15/2030 (n)
|
6,055,000
|
6,021,541
|
|
Block Inc 6% 8/15/2033 (n)
|
4,785,000
|
4,705,969
|
|
Icahn Enterprises LP / Icahn Enterprises Finance Corp 10% 11/15/2029 (n)
|
7,475,000
|
7,344,188
|
|
Icahn Enterprises LP / Icahn Enterprises Finance Corp 4.375% 2/1/2029
|
6,375,000
|
5,439,680
|
|
Icahn Enterprises LP / Icahn Enterprises Finance Corp 5.25% 5/15/2027
|
11,645,000
|
11,409,036
|
|
James Hardie International Finance DAC 5% 1/15/2028 (n)
|
5,270,000
|
5,225,661
|
|
MGIC Investment Corp 5.25% 8/15/2028
|
4,725,000
|
4,712,950
|
|
NCR Atleos Corp 9.5% 4/1/2029 (n)
|
4,090,000
|
4,378,109
|
|
Shift4 Payments LLC / Shift4 Payments Finance Sub Inc 6.75% 8/15/2032 (n)
|
2,305,000
|
2,266,610
|
|
56,727,934
|
|||
Insurance - 1.1%
|
|||
Acrisure LLC / Acrisure Finance Inc 6% 8/1/2029 (n)
|
8,245,000
|
7,742,096
|
|
Acrisure LLC / Acrisure Finance Inc 6.75% 7/1/2032 (n)
|
4,740,000
|
4,567,573
|
|
Acrisure LLC / Acrisure Finance Inc 7.5% 11/6/2030 (n)
|
4,465,000
|
4,478,681
|
|
Acrisure LLC / Acrisure Finance Inc 8.25% 2/1/2029 (n)
|
16,525,000
|
16,336,477
|
|
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer 4.25% 10/15/2027 (n)
|
6,740,000
|
6,605,584
|
|
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer 5.875% 11/1/2029 (n)
|
4,180,000
|
4,044,272
|
|
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer 6.5% 10/1/2031 (n)
|
2,660,000
|
2,611,981
|
|
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer 6.75% 10/15/2027 (n)
|
19,655,000
|
19,640,023
|
|
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer 6.75% 4/15/2028 (n)
|
20,421,000
|
20,532,295
|
|
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer 7% 1/15/2031 (n)
|
8,605,000
|
8,678,246
|
|
AmWINS Group Inc 4.875% 6/30/2029 (n)
|
4,105,000
|
3,932,439
|
|
Asurion LLC/ Asurion Co-Issuer Inc 8% 12/31/2032 (n)
|
6,710,000
|
6,961,276
|
|
HUB International Ltd 5.625% 12/1/2029 (n)
|
16,470,000
|
15,976,647
|
|
HUB International Ltd 7.25% 6/15/2030 (n)
|
17,925,000
|
18,362,442
|
|
HUB International Ltd 7.375% 1/31/2032 (n)
|
14,685,000
|
14,978,157
|
|
Panther Escrow Issuer LLC 7.125% 6/1/2031 (n)
|
11,790,000
|
11,829,603
|
|
USI Inc/NY 7.5% 1/15/2032 (n)
|
3,540,000
|
3,587,796
|
|
170,865,588
|
|||
TOTAL FINANCIALS
|
354,181,030
|
||
Health Care - 1.2%
|
|||
Health Care Equipment & Supplies - 0.1%
|
|||
Avantor Funding Inc 3.875% 11/1/2029 (n)
|
2,790,000
|
2,617,559
|
|
Bausch + Lomb Corp 8.375% 10/1/2028 (n)
|
5,470,000
|
5,647,775
|
|
Hologic Inc 4.625% 2/1/2028 (n)
|
2,505,000
|
2,501,242
|
|
10,766,576
|
|||
Health Care Providers & Services - 0.8%
|
|||
CHS/Community Health Systems Inc 10.875% 1/15/2032 (n)
|
6,821,000
|
7,317,985
|
|
CHS/Community Health Systems Inc 4.75% 2/15/2031 (n)
|
11,430,000
|
10,537,589
|
|
CHS/Community Health Systems Inc 5.25% 5/15/2030 (n)
|
8,305,000
|
7,827,316
|
|
CHS/Community Health Systems Inc 6% 1/15/2029 (n)
|
4,940,000
|
4,884,425
|
|
CHS/Community Health Systems Inc 6.125% 4/1/2030 (n)
|
5,930,000
|
5,155,925
|
|
DaVita Inc 3.75% 2/15/2031 (n)
|
2,075,000
|
1,902,664
|
|
DaVita Inc 4.625% 6/1/2030 (n)
|
15,850,000
|
15,240,016
|
|
HAH Group Holding Co LLC 9.75% 10/1/2031 (n)
|
3,925,000
|
3,438,553
|
|
HealthEquity Inc 4.5% 10/1/2029 (n)
|
2,950,000
|
2,854,086
|
|
Molina Healthcare Inc 3.875% 11/15/2030 (n)
|
6,345,000
|
5,672,619
|
|
Molina Healthcare Inc 3.875% 5/15/2032 (n)
|
5,560,000
|
4,829,534
|
|
Molina Healthcare Inc 4.375% 6/15/2028 (n)
|
4,690,000
|
4,535,057
|
|
National Mentor Holdings Inc 10.5% 12/15/2030 (n)
|
5,370,000
|
5,542,790
|
|
Surgery Center Holdings Inc 7.25% 4/15/2032 (n)
|
3,060,000
|
3,005,450
|
|
Tenet Healthcare Corp 5.125% 11/1/2027
|
10,955,000
|
10,944,277
|
|
Tenet Healthcare Corp 6.125% 6/15/2030
|
13,945,000
|
14,035,323
|
|
Tenet Healthcare Corp 6.75% 5/15/2031
|
2,715,000
|
2,775,091
|
|
110,498,700
|
|||
Health Care Technology - 0.0%
|
|||
IQVIA Inc 5% 5/15/2027 (n)
|
5,660,000
|
5,638,602
|
|
Life Sciences Tools & Services - 0.0%
|
|||
Charles River Laboratories International Inc 4% 3/15/2031 (n)
|
6,035,000
|
5,614,318
|
|
Charles River Laboratories International Inc 4.25% 5/1/2028 (n)
|
2,045,000
|
1,998,931
|
|
7,613,249
|
|||
Pharmaceuticals - 0.3%
|
|||
1261229 BC Ltd 10% 4/15/2032 (n)
|
29,875,000
|
30,587,340
|
|
Organon & Co / Organon Foreign Debt Co-Issuer BV 4.125% 4/30/2028 (n)
|
10,200,000
|
9,897,605
|
|
Organon & Co / Organon Foreign Debt Co-Issuer BV 5.125% 4/30/2031 (n)
|
8,890,000
|
7,245,260
|
|
47,730,205
|
|||
TOTAL HEALTH CARE
|
182,247,332
|
||
Industrials - 2.6%
|
|||
Aerospace & Defense - 0.8%
|
|||
ATI Inc 4.875% 10/1/2029
|
2,795,000
|
2,757,720
|
|
ATI Inc 5.125% 10/1/2031
|
2,480,000
|
2,450,190
|
|
ATI Inc 7.25% 8/15/2030
|
2,745,000
|
2,846,480
|
|
BWX Technologies Inc 4.125% 6/30/2028 (n)
|
6,400,000
|
6,222,857
|
|
Moog Inc 4.25% 12/15/2027 (n)
|
2,025,000
|
2,023,824
|
|
TransDigm Inc 4.625% 1/15/2029
|
9,290,000
|
9,127,648
|
|
TransDigm Inc 6.125% 7/31/2034 (n)
|
6,910,000
|
6,796,278
|
|
TransDigm Inc 6.25% 1/31/2034 (n)
|
2,145,000
|
2,168,661
|
|
TransDigm Inc 6.375% 3/1/2029 (n)
|
8,150,000
|
8,251,875
|
|
TransDigm Inc 6.375% 5/31/2033 (n)
|
15,000,000
|
14,920,025
|
|
TransDigm Inc 6.625% 3/1/2032 (n)
|
2,650,000
|
2,702,655
|
|
TransDigm Inc 6.75% 1/31/2034 (n)
|
8,120,000
|
8,226,413
|
|
TransDigm Inc 6.75% 8/15/2028 (n)
|
12,760,000
|
12,903,550
|
|
TransDigm Inc 6.875% 12/15/2030 (n)
|
21,975,000
|
22,516,640
|
|
TransDigm Inc 7.125% 12/1/2031 (n)
|
5,390,000
|
5,563,321
|
|
109,478,137
|
|||
Air Freight & Logistics - 0.0%
|
|||
Rand Parent LLC 8.5% 2/15/2030 (n)
|
6,985,000
|
7,170,277
|
|
Building Products - 0.1%
|
|||
Advanced Drainage Systems Inc 6.375% 6/15/2030 (n)
|
2,780,000
|
2,804,153
|
|
Miter Brands Acquisition Holdco Inc / MIWD Borrower LLC 6.75% 4/1/2032 (n)
|
3,920,000
|
3,754,393
|
|
MIWD Holdco II LLC / MIWD Finance Corp 5.5% 2/1/2030 (n)
|
1,865,000
|
1,610,851
|
|
Shea Homes LP / Shea Homes Funding Corp 4.75% 4/1/2029
|
4,830,000
|
4,671,215
|
|
12,840,612
|
|||
Commercial Services & Supplies - 1.1%
|
|||
Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl 4.625% 6/1/2028 (n)
|
3,736,000
|
3,647,914
|
|
Artera Services LLC 8.5% 2/15/2031 (n)
|
12,380,000
|
10,600,767
|
|
Brand Industrial Services Inc 10.375% 8/1/2030 (n)
|
20,835,000
|
19,041,373
|
|
Brink's Co/The 4.625% 10/15/2027 (n)
|
7,200,000
|
7,105,779
|
|
Clean Harbors Inc 6.375% 2/1/2031 (n)
|
2,350,000
|
2,386,603
|
|
CoreCivic Inc 8.25% 4/15/2029
|
14,760,000
|
15,407,019
|
|
GEO Group Inc/The 10.25% 4/15/2031
|
11,550,000
|
12,304,788
|
|
GEO Group Inc/The 8.625% 4/15/2029
|
9,115,000
|
9,466,223
|
|
GFL Environmental Inc 4% 8/1/2028 (n)
|
4,200,000
|
4,082,908
|
|
GFL Environmental Inc 4.75% 6/15/2029 (n)
|
5,705,000
|
5,597,481
|
|
GFL Environmental Inc 6.75% 1/15/2031 (n)
|
3,980,000
|
4,118,613
|
|
Madison IAQ LLC 4.125% 6/30/2028 (n)
|
5,345,000
|
5,219,892
|
|
Madison IAQ LLC 5.875% 6/30/2029 (n)
|
4,265,000
|
4,182,513
|
|
Neptune Bidco US Inc 10.375% 5/15/2031 (n)
|
4,015,000
|
4,051,167
|
|
Neptune Bidco US Inc 9.29% 4/15/2029 (n)
|
38,005,000
|
38,052,507
|
|
Neptune Bidco US Inc 9.5% 2/15/2033 (n)
|
2,000,000
|
1,940,478
|
|
Reworld Holding Corp 4.875% 12/1/2029 (n)
|
9,642,000
|
9,038,998
|
|
Williams Scotsman Inc 7.375% 10/1/2031 (n)
|
2,535,000
|
2,599,333
|
|
158,844,356
|
|||
Construction & Engineering - 0.0%
|
|||
Arcosa Inc 4.375% 4/15/2029 (n)
|
4,130,000
|
3,984,377
|
|
Electrical Equipment - 0.0%
|
|||
Sensata Technologies BV 4% 4/15/2029 (n)
|
3,651,000
|
3,523,068
|
|
Ground Transportation - 0.1%
|
|||
Uber Technologies Inc 4.5% 8/15/2029 (n)
|
12,675,000
|
12,567,619
|
|
XPO Inc 6.25% 6/1/2028 (n)
|
2,790,000
|
2,824,507
|
|
XPO Inc 7.125% 2/1/2032 (n)
|
4,015,000
|
4,141,135
|
|
19,533,261
|
|||
Machinery - 0.1%
|
|||
Allison Transmission Inc 5.875% 6/1/2029 (n)
|
4,830,000
|
4,864,196
|
|
Beach Acquisition Bidco LLC 10% 7/15/2033 pay-in-kind (c)(n)
|
8,727,522
|
9,294,962
|
|
Chart Industries Inc 7.5% 1/1/2030 (n)
|
7,420,000
|
7,708,690
|
|
21,867,848
|
|||
Passenger Airlines - 0.3%
|
|||
Allegiant Travel Co 7.25% 8/15/2027 (n)
|
3,365,000
|
3,368,203
|
|
American Airlines Inc 7.25% 2/15/2028 (n)
|
9,260,000
|
9,312,720
|
|
American Airlines Inc/AAdvantage Loyalty IP Ltd 5.75% 4/20/2029 (n)
|
13,870,000
|
13,794,136
|
|
United Airlines Inc 4.625% 4/15/2029 (n)
|
8,725,000
|
8,560,306
|
|
35,035,365
|
|||
Professional Services - 0.1%
|
|||
ION Platform Finance US Inc / ION Platform Finance SARL 5% 5/1/2028 (n)
|
4,315,000
|
4,030,413
|
|
ION Platform Finance US Inc / ION Platform Finance SARL 5.75% 5/15/2028 (n)
|
5,780,000
|
5,484,380
|
|
TriNet Group Inc 3.5% 3/1/2029 (n)
|
4,545,000
|
4,119,965
|
|
13,634,758
|
|||
Trading Companies & Distributors - 0.0%
|
|||
FTAI Aviation Investors LLC 7.875% 12/1/2030 (n)
|
4,040,000
|
4,218,548
|
|
Synergy Infrastructure Holdings LLC 7.875% 12/1/2030 (n)
|
3,125,000
|
3,185,384
|
|
7,403,932
|
|||
TOTAL INDUSTRIALS
|
393,315,991
|
||
Information Technology - 1.1%
|
|||
Electronic Equipment, Instruments & Components - 0.1%
|
|||
Coherent Corp 5% 12/15/2029 (n)
|
4,370,000
|
4,286,196
|
|
CPI CG Inc 10% 7/15/2029 (n)
|
2,413,000
|
2,546,583
|
|
Lightning Power LLC 7.25% 8/15/2032 (n)
|
5,130,000
|
5,332,521
|
|
TTM Technologies Inc 4% 3/1/2029 (n)
|
4,540,000
|
4,360,031
|
|
16,525,331
|
|||
IT Services - 0.4%
|
|||
ASGN Inc 4.625% 5/15/2028 (n)
|
5,670,000
|
5,489,062
|
|
CoreWeave Inc 9% 2/1/2031 (n)
|
11,410,000
|
10,856,831
|
|
CoreWeave Inc 9.25% 6/1/2030 (n)
|
20,545,000
|
19,962,742
|
|
Go Daddy Operating Co LLC / GD Finance Co Inc 3.5% 3/1/2029 (n)
|
6,060,000
|
5,638,418
|
|
Go Daddy Operating Co LLC / GD Finance Co Inc 5.25% 12/1/2027 (n)
|
5,665,000
|
5,641,909
|
|
Sabre GLBL Inc 11.125% 7/15/2030 (n)
|
13,975,000
|
11,861,421
|
|
59,450,383
|
|||
Semiconductors & Semiconductor Equipment - 0.1%
|
|||
ON Semiconductor Corp 3.875% 9/1/2028 (n)
|
6,765,000
|
6,527,062
|
|
Synaptics Inc 4% 6/15/2029 (n)
|
3,500,000
|
3,314,192
|
|
Wolfspeed Inc 7% 6/15/2031 pay-in-kind (c)
|
4,959,066
|
3,930,060
|
|
Wolfspeed Inc 9.875% 6/23/2030 pay-in-kind (c)(n)
|
1,654,732
|
1,805,301
|
|
15,576,615
|
|||
Software - 0.4%
|
|||
Cloud Software Group Inc 6.5% 3/31/2029 (n)
|
31,025,000
|
30,267,069
|
|
Elastic NV 4.125% 7/15/2029 (n)
|
11,340,000
|
10,637,741
|
|
Fair Isaac Corp 4% 6/15/2028 (n)
|
6,420,000
|
6,230,128
|
|
NCR Voyix Corp 5% 10/1/2028 (n)
|
3,385,000
|
3,261,537
|
|
Oracle Corp 3.8% 11/15/2037
|
4,240,000
|
3,367,168
|
|
PTC Inc 4% 2/15/2028 (n)
|
3,715,000
|
3,620,851
|
|
UKG Inc 6.875% 2/1/2031 (n)
|
3,980,000
|
3,889,715
|
|
61,274,209
|
|||
Technology Hardware, Storage & Peripherals - 0.1%
|
|||
Seagate Data Storage Technology Pte Ltd 8.25% 12/15/2029 (n)
|
9,200,000
|
9,661,730
|
|
Seagate Data Storage Technology Pte Ltd 8.5% 7/15/2031 (n)
|
5,975,000
|
6,264,417
|
|
15,926,147
|
|||
TOTAL INFORMATION TECHNOLOGY
|
168,752,685
|
||
Materials - 0.9%
|
|||
Chemicals - 0.3%
|
|||
Ingevity Corp 3.875% 11/1/2028 (n)
|
6,715,000
|
6,446,058
|
|
LSB Industries Inc 6.25% 10/15/2028 (n)
|
9,723,000
|
9,662,740
|
|
Olympus Water US Holding Corp 4.25% 10/1/2028 (n)
|
7,070,000
|
6,752,820
|
|
Olympus Water US Holding Corp 7.25% 2/15/2033 (n)
|
13,505,000
|
12,885,137
|
|
Scih Salt Hldgs Inc 4.875% 5/1/2028 (n)
|
3,770,000
|
3,726,997
|
|
Scotts Miracle-Gro Co/The 4% 4/1/2031
|
5,930,000
|
5,478,382
|
|
WR Grace Holdings LLC 7.375% 3/1/2031 (n)
|
2,810,000
|
2,817,250
|
|
47,769,384
|
|||
Construction Materials - 0.1%
|
|||
Smyrna Ready Mix Concrete LLC 8.875% 11/15/2031 (n)
|
10,810,000
|
11,147,272
|
|
Containers & Packaging - 0.3%
|
|||
Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC 3.25% 9/1/2028 (n)
|
3,025,000
|
2,875,788
|
|
Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC 4% 9/1/2029 (n)
|
6,050,000
|
5,539,993
|
|
Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC 6.25% 1/30/2031 (n)
|
2,695,000
|
2,671,858
|
|
Clydesdale Acquisition Holdings Inc 6.75% 4/15/2032 (n)
|
1,285,000
|
1,215,795
|
|
Clydesdale Acquisition Holdings Inc 8.75% 4/15/2030 (n)
|
21,190,000
|
19,771,836
|
|
Crown Cork & Seal Co Inc 7.5% 12/15/2096
|
7,695,000
|
7,618,050
|
|
Graphic Packaging International LLC 3.75% 2/1/2030 (n)
|
3,585,000
|
3,289,667
|
|
Mauser Packaging Solutions Holding Co 7.875% 4/15/2030 (n)
|
2,815,000
|
2,815,000
|
|
Sealed Air Corp/Sealed Air Corp US 6.125% 2/1/2028 (n)
|
2,815,000
|
2,850,274
|
|
Trident TPI Holdings Inc 12.75% 12/31/2028 (n)
|
2,765,000
|
2,691,518
|
|
51,339,779
|
|||
Metals & Mining - 0.2%
|
|||
Alcoa Nederland Holding BV 4.125% 3/31/2029 (n)
|
7,735,000
|
7,519,538
|
|
Alcoa Nederland Holding BV 7.125% 3/15/2031 (n)
|
2,135,000
|
2,232,595
|
|
Arsenal AIC Parent LLC 8% 10/1/2030 (n)
|
3,285,000
|
3,420,234
|
|
Cleveland-Cliffs Inc 4.625% 3/1/2029 (n)
|
4,615,000
|
4,403,711
|
|
Cleveland-Cliffs Inc 4.875% 3/1/2031 (n)
|
4,615,000
|
4,145,020
|
|
Cleveland-Cliffs Inc 7.5% 9/15/2031 (n)
|
9,035,000
|
9,012,029
|
|
Roller Bearing Co of America Inc 4.375% 10/15/2029 (n)
|
2,015,000
|
1,957,745
|
|
32,690,872
|
|||
TOTAL MATERIALS
|
142,947,307
|
||
Real Estate - 0.9%
|
|||
Diversified REITs - 0.3%
|
|||
Iron Mountain Information Management Services Inc 5% 7/15/2032 (n)
|
4,190,000
|
3,955,616
|
|
Uniti Group LP / Uniti Fiber Holdings Inc / CSL Capital LLC 6% 1/15/2030 (n)
|
3,390,000
|
3,188,555
|
|
Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC 4.75% 4/15/2028 (n)
|
9,350,000
|
9,301,376
|
|
Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC 6.5% 2/15/2029 (n)
|
5,660,000
|
5,497,210
|
|
Vici Properties LP / Vici Note Co Inc 3.875% 2/15/2029 (n)
|
6,695,000
|
6,506,237
|
|
Vici Properties LP / Vici Note Co Inc 4.25% 12/1/2026 (n)
|
12,650,000
|
12,615,427
|
|
Vici Properties LP / Vici Note Co Inc 4.625% 12/1/2029 (n)
|
7,220,000
|
7,098,232
|
|
48,162,653
|
|||
Health Care REITs - 0.2%
|
|||
MPT Operating Partnership LP / MPT Finance Corp 3.5% 3/15/2031
|
6,700,000
|
4,364,095
|
|
MPT Operating Partnership LP / MPT Finance Corp 4.625% 8/1/2029
|
10,950,000
|
8,513,951
|
|
MPT Operating Partnership LP / MPT Finance Corp 5% 10/15/2027
|
21,010,000
|
19,539,394
|
|
MPT Operating Partnership LP / MPT Finance Corp 8.5% 2/15/2032 (n)
|
3,890,000
|
3,943,729
|
|
36,361,169
|
|||
Real Estate Management & Development - 0.1%
|
|||
Anywhere Real Estate Group LLC / Realogy Co-Issuer Corp 9.75% 4/15/2030 (n)
|
5,515,000
|
5,854,525
|
|
Greystar Real Estate Partners LLC 7.75% 9/1/2030 (n)
|
2,435,000
|
2,532,780
|
|
Taylor Morrison Communities Inc 5.125% 8/1/2030 (n)
|
6,480,000
|
6,405,877
|
|
Weekley Homes LLC / Weekley Finance Corp 4.875% 9/15/2028 (n)
|
3,045,000
|
2,948,563
|
|
17,741,745
|
|||
Specialized REITs - 0.3%
|
|||
Iron Mountain Inc 4.875% 9/15/2029 (n)
|
14,590,000
|
14,195,171
|
|
Iron Mountain Inc 5% 7/15/2028 (n)
|
6,370,000
|
6,302,132
|
|
Iron Mountain Inc 5.25% 7/15/2030 (n)
|
5,915,000
|
5,746,761
|
|
Iron Mountain Inc 5.625% 7/15/2032 (n)
|
5,915,000
|
5,742,110
|
|
SBA Communications Corp 3.875% 2/15/2027
|
9,720,000
|
9,621,102
|
|
41,607,276
|
|||
TOTAL REAL ESTATE
|
143,872,843
|
||
Utilities - 1.2%
|
|||
Electric Utilities - 0.9%
|
|||
Clearway Energy Operating LLC 3.75% 1/15/2032 (n)
|
2,795,000
|
2,547,818
|
|
Clearway Energy Operating LLC 4.75% 3/15/2028 (n)
|
4,055,000
|
4,000,892
|
|
NRG Energy Inc 3.375% 2/15/2029 (n)
|
3,080,000
|
2,919,881
|
|
NRG Energy Inc 3.625% 2/15/2031 (n)
|
6,110,000
|
5,626,402
|
|
NRG Energy Inc 3.875% 2/15/2032 (n)
|
582,000
|
533,554
|
|
NRG Energy Inc 5.75% 1/15/2028
|
19,350,000
|
19,386,065
|
|
NRG Energy Inc 5.75% 1/15/2034 (n)
|
5,405,000
|
5,329,706
|
|
NRG Energy Inc 6% 1/15/2036 (n)
|
10,805,000
|
10,707,753
|
|
Pacific Gas and Electric Co 3.95% 12/1/2047
|
2,711,000
|
1,972,798
|
|
Pacific Gas and Electric Co 4% 12/1/2046
|
8,299,000
|
6,074,067
|
|
Pacific Gas and Electric Co 4.3% 3/15/2045
|
3,690,000
|
2,882,182
|
|
PG&E Corp 5% 7/1/2028
|
13,615,000
|
13,508,429
|
|
PG&E Corp 5.25% 7/1/2030
|
5,150,000
|
5,081,979
|
|
Vistra Operations Co LLC 4.375% 5/1/2029 (n)
|
11,110,000
|
10,848,166
|
|
Vistra Operations Co LLC 5% 7/31/2027 (n)
|
13,800,000
|
13,751,301
|
|
Vistra Operations Co LLC 5.625% 2/15/2027 (n)
|
17,455,000
|
17,454,986
|
|
Vistra Operations Co LLC 7.75% 10/15/2031 (n)
|
5,470,000
|
5,729,725
|
|
XPLR Infrastructure Operating Partners LP 7.25% 1/15/2029 (n)
|
2,675,000
|
2,753,019
|
|
XPLR Infrastructure Operating Partners LP 7.75% 4/15/2034 (n)
|
7,635,000
|
7,885,062
|
|
138,993,785
|
|||
Gas Utilities - 0.2%
|
|||
Southern Natural Gas Co LLC 7.35% 2/15/2031
|
14,890,000
|
16,357,078
|
|
Southern Natural Gas Co LLC 8% 3/1/2032
|
9,400,000
|
10,720,613
|
|
Suburban Propane Partners LP/Suburban Energy Finance Corp 5% 6/1/2031 (n)
|
5,750,000
|
5,410,051
|
|
32,487,742
|
|||
Independent Power and Renewable Electricity Producers - 0.1%
|
|||
Alpha Generation LLC 6.25% 1/15/2034 (n)
|
4,050,000
|
3,978,492
|
|
Sunnova Energy Corp 11.75% (e)(g)(n)
|
8,050,000
|
40,250
|
|
Sunnova Energy Corp 5.875% (e)(g)(n)
|
1,350,000
|
3,375
|
|
Talen Energy Supply LLC 6.25% 2/1/2034 (n)
|
4,040,000
|
3,994,988
|
|
Talen Energy Supply LLC 6.5% 2/1/2036 (n)
|
4,040,000
|
4,068,000
|
|
12,085,105
|
|||
TOTAL UTILITIES
|
183,566,632
|
||
TOTAL UNITED STATES
|
2,771,817,880
|
||
ZAMBIA - 0.1%
|
|||
Materials - 0.1%
|
|||
Metals & Mining - 0.1%
|
|||
First Quantum Minerals Ltd 6.375% 2/15/2036 (n)
|
6,460,000
|
6,180,960
|
|
First Quantum Minerals Ltd 7.25% 2/15/2034 (n)
|
3,580,000
|
3,624,464
|
|
First Quantum Minerals Ltd 8.625% 6/1/2031 (n)
|
7,775,000
|
8,017,969
|
|
TOTAL ZAMBIA
|
17,823,393
|
||
|
TOTAL NON-CONVERTIBLE CORPORATE BONDS
(Cost $3,133,505,804)
|
3,120,331,296
|
||
Non-Convertible Preferred Stocks - 0.3%
|
|||
Shares
|
Value ($)
|
||
UNITED STATES - 0.3%
|
|||
Energy - 0.0%
|
|||
Oil, Gas & Consumable Fuels - 0.0%
|
|||
Summit Midstream Corp 3 month U.S. LIBOR + 7.43%, 12.2837% (c)(d)
|
1,711
|
2,705,136
|
|
Information Technology - 0.3%
|
|||
Software - 0.3%
|
|||
Strategy Inc 11.5% (l)
|
301,326
|
30,131,093
|
|
Strategy Inc Series A, 10%
|
137,400
|
13,156,050
|
|
TOTAL INFORMATION TECHNOLOGY
|
43,287,143
|
||
TOTAL UNITED STATES
|
45,992,279
|
||
|
TOTAL NON-CONVERTIBLE PREFERRED STOCKS
(Cost $43,065,461)
|
45,992,279
|
||
Preferred Securities - 1.4%
|
|||
Principal
Amount (a)
|
Value ($)
|
||
UNITED STATES - 1.4%
|
|||
Energy - 0.3%
|
|||
Oil, Gas & Consumable Fuels - 0.3%
|
|||
Energy Transfer LP 6.5% (c)(s)
|
10,050,000
|
10,273,433
|
|
Energy Transfer LP 6.625% (c)(s)
|
20,350,000
|
20,441,727
|
|
Energy Transfer LP Series G, 7.125% (c)(s)
|
14,083,000
|
14,708,208
|
|
TOTAL ENERGY
|
45,423,368
|
||
Financials - 1.1%
|
|||
Banks - 1.0%
|
|||
Bank of America Corp 5.875% (c)(s)
|
60,475,000
|
60,681,162
|
|
Bank of America Corp 6.25% (c)(s)
|
21,500,000
|
21,872,116
|
|
Citigroup Inc 6.5% (c)(s)
|
13,290,000
|
13,374,192
|
|
Citigroup Inc 6.75% (c)(s)
|
7,970,000
|
8,034,413
|
|
Citigroup Inc 7% (c)(s)
|
6,110,000
|
6,342,365
|
|
JPMorgan Chase & Co CME Term SOFR 3 month Index + 2.745%, 6.4058% (c)(d)(s)
|
19,100,000
|
19,429,980
|
|
Wells Fargo & Co 6.125% (c)(s)
|
13,225,000
|
13,305,568
|
|
Wells Fargo & Co 6.85% (c)(s)
|
3,985,000
|
4,143,481
|
|
147,183,277
|
|||
Capital Markets - 0.0%
|
|||
Goldman Sachs Group Inc/The 6.85% (c)(s)
|
3,985,000
|
4,099,666
|
|
Insurance - 0.1%
|
|||
Alliant Holdings LP 10.5% (c)(e)(s)
|
20,631,644
|
20,042,128
|
|
TOTAL FINANCIALS
|
171,325,071
|
||
Utilities - 0.0%
|
|||
Electric Utilities - 0.0%
|
|||
Edison International 5% (c)(s)
|
1,105,000
|
1,097,292
|
|
TOTAL UNITED STATES
|
217,845,731
|
||
|
TOTAL PREFERRED SECURITIES
(Cost $216,400,640)
|
217,845,731
|
||
U.S. Government Agency - Mortgage Securities - 0.9%
|
|||
Principal
Amount (a)
|
Value ($)
|
||
UNITED STATES - 0.9%
|
|||
Fannie Mae 2% 2/1/2052
|
2,904,545
|
2,382,714
|
|
Fannie Mae Mortgage pass-thru certificates 2% 11/1/2041 (k)
|
3,648,825
|
3,179,735
|
|
Fannie Mae Mortgage pass-thru certificates 2% 2/1/2028
|
367,137
|
361,387
|
|
Fannie Mae Mortgage pass-thru certificates 2.5% 5/1/2042
|
348,246
|
313,104
|
|
Fannie Mae Mortgage pass-thru certificates 2.5% 5/1/2042
|
143,613
|
128,933
|
|
Fannie Mae Mortgage pass-thru certificates 3% 10/1/2040
|
3,052,343
|
2,867,674
|
|
Fannie Mae Mortgage pass-thru certificates 3% 12/1/2051
|
154,115
|
137,085
|
|
Fannie Mae Mortgage pass-thru certificates 3% 9/1/2041
|
1,125,302
|
1,046,320
|
|
Fannie Mae Mortgage pass-thru certificates 5% 11/1/2052 (h)
|
1,062,896
|
1,059,113
|
|
Fannie Mae Mortgage pass-thru certificates 6% 11/1/2053 (h)
|
741,968
|
762,165
|
|
Fannie Mae Mortgage pass-thru certificates 6% 3/1/2054
|
232,771
|
238,366
|
|
Fannie Mae Mortgage pass-thru certificates 6% 6/1/2053 (j)
|
3,292,713
|
3,407,605
|
|
Fannie Mae Mortgage pass-thru certificates 6% 6/1/2053 (j)
|
2,486,978
|
2,571,423
|
|
Fannie Mae Mortgage pass-thru certificates 6% 6/1/2055 (h)(j)
|
3,040,701
|
3,156,539
|
|
Fannie Mae Mortgage pass-thru certificates 6% 8/1/2055
|
5,529,487
|
5,724,585
|
|
Fannie Mae Mortgage pass-thru certificates 6% 9/1/2053
|
227,206
|
234,370
|
|
Fannie Mae Mortgage pass-thru certificates 6.5% 1/1/2055 (h)(j)
|
1,765,586
|
1,861,436
|
|
Fannie Mae Mortgage pass-thru certificates 6.5% 3/1/2054 (h)
|
460,403
|
478,275
|
|
Freddie Mac Gold Pool 2.5% 11/1/2041
|
10,944,415
|
9,856,302
|
|
Freddie Mac Gold Pool 2.5% 2/1/2042
|
2,049,861
|
1,849,423
|
|
Freddie Mac Gold Pool 2.5% 5/1/2041
|
4,319,720
|
3,921,133
|
|
Freddie Mac Gold Pool 5.5% 9/1/2052 (h)(j)
|
5,094,693
|
5,181,872
|
|
Freddie Mac Gold Pool 6% 11/1/2053
|
142,925
|
147,253
|
|
Freddie Mac Gold Pool 6% 2/1/2055
|
2,466,171
|
2,557,617
|
|
Freddie Mac Gold Pool 6.5% 10/1/2053 (h)
|
2,646,859
|
2,780,418
|
|
Freddie Mac Gold Pool 6.5% 10/1/2053 (h)(j)
|
2,628,878
|
2,763,995
|
|
Freddie Mac Non Gold Pool 6% 9/1/2053
|
265,689
|
274,067
|
|
Freddie Mac Non Gold Pool 6.5% 1/1/2055 (j)
|
2,915,982
|
3,064,033
|
|
Ginnie Mae I Pool 2.5% 12/20/2051
|
4,013,203
|
3,441,360
|
|
Ginnie Mae I Pool 2.5% 8/20/2051
|
3,399,941
|
2,917,607
|
|
Ginnie Mae I Pool 2.5% 9/20/2051
|
3,017,674
|
2,587,684
|
|
Ginnie Mae II Pool 2% 1/20/2051 (h)
|
9,436,919
|
7,780,744
|
|
Ginnie Mae II Pool 2% 8/20/2051
|
1,518,786
|
1,252,239
|
|
Ginnie Mae II Pool 2% 9/20/2050
|
1,524,017
|
1,258,457
|
|
Ginnie Mae II Pool 5.5% 12/20/2054
|
803,331
|
810,782
|
|
Ginnie Mae II Pool 5.5% 4/1/2056 (i)
|
18,750,000
|
18,853,690
|
|
Ginnie Mae II Pool 5.5% 5/1/2056 (i)
|
13,250,000
|
13,296,360
|
|
Ginnie Mae II Pool 6% 4/1/2056 (i)
|
14,750,000
|
14,993,146
|
|
Uniform Mortgage Backed Securities 4% 4/1/2056 (i)
|
14,975,000
|
14,112,182
|
|
Uniform Mortgage Backed Securities 5% 4/1/2056 (i)
|
1,975,000
|
1,946,687
|
|
TOTAL UNITED STATES
|
145,557,880
|
||
|
TOTAL U.S. GOVERNMENT AGENCY - MORTGAGE SECURITIES
(Cost $144,027,364)
|
145,557,880
|
||
U.S. Government Agency Obligations - 0.9%
|
|||
Principal
Amount (a)
|
Value ($)
|
||
UNITED STATES - 0.9%
|
|||
Financials - 0.9%
|
|||
Financial Services - 0.9%
|
|||
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.12%, 3.75% 6/12/2028 (c)(d)
|
60,670,000
|
60,668,856
|
|
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.165%, 3.795% 1/19/2029 (c)(d)
|
65,280,000
|
65,278,550
|
|
TOTAL FINANCIALS
|
125,947,406
|
||
Utilities - 0.0%
|
|||
Independent Power and Renewable Electricity Producers - 0.0%
|
|||
Tennessee Valley Authority 5.25% 9/15/2039
|
2,106,000
|
2,207,868
|
|
Tennessee Valley Authority 5.375% 4/1/2056
|
3,503,000
|
3,526,008
|
|
TOTAL UTILITIES
|
5,733,876
|
||
TOTAL UNITED STATES
|
131,681,282
|
||
|
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS
(Cost $131,725,313)
|
131,681,282
|
||
U.S. Treasury Obligations - 21.4%
|
||||
Yield (%) (u)
|
Principal
Amount (a)
|
Value ($)
|
||
US Treasury Bills 0% 5/14/2026 (j)
|
3.64
|
22,060,000
|
21,964,076
|
|
US Treasury Bills 0% 5/7/2026 (j)
|
3.62
|
4,450,000
|
4,433,790
|
|
US Treasury Bills 0% 6/25/2026 (j)
|
3.62
|
8,810,000
|
8,735,375
|
|
US Treasury Bonds 2% 8/15/2051
|
1.95 to 2.09
|
77,934,000
|
44,370,627
|
|
US Treasury Bonds 2.25% 2/15/2052
|
2.15 to 2.99
|
90,920,000
|
54,793,506
|
|
US Treasury Bonds 2.5% 2/15/2045
|
2.98 to 3.04
|
216,056,000
|
151,517,710
|
|
US Treasury Bonds 3% 2/15/2049
|
3.00 to 3.10
|
107,530,000
|
78,534,704
|
|
US Treasury Bonds 3% 5/15/2045
|
1.80
|
20,100,000
|
15,296,414
|
|
US Treasury Bonds 3.625% 2/15/2053
|
3.80 to 3.85
|
82,416,000
|
66,145,278
|
|
US Treasury Bonds 4.125% 8/15/2044
|
4.60 to 4.66
|
47,820,000
|
43,385,442
|
|
US Treasury Bonds 4.125% 8/15/2053
|
4.48 to 4.80
|
16,039,000
|
14,065,451
|
|
US Treasury Bonds 4.25% 8/15/2054
|
4.65
|
15,760,000
|
14,115,050
|
|
US Treasury Bonds 4.375% 8/15/2043
|
5.10 to 5.28
|
49,031,000
|
46,278,752
|
|
US Treasury Bonds 4.5% 11/15/2054
|
4.74 to 4.82
|
36,450,000
|
34,052,273
|
|
US Treasury Bonds 4.5% 2/15/2044
|
4.58
|
12,910,000
|
12,345,692
|
|
US Treasury Bonds 4.625% 11/15/2044
|
4.71 to 4.80
|
23,470,000
|
22,709,975
|
|
US Treasury Bonds 4.625% 11/15/2055
|
4.69 to 4.92
|
36,600,000
|
34,970,156
|
|
US Treasury Bonds 4.625% 5/15/2054
|
4.02 to 4.49
|
24,660,000
|
23,512,732
|
|
US Treasury Bonds 4.75% 2/15/2037
|
2.81 to 2.93
|
8,200,000
|
8,492,766
|
|
US Treasury Bonds 4.75% 2/15/2056
|
4.88
|
3,850,000
|
3,754,953
|
|
US Treasury Bonds 4.75% 5/15/2055
|
4.67
|
14,700,000
|
14,313,551
|
|
US Treasury Bonds 4.75% 8/15/2055
|
4.63 to 4.81
|
13,280,000
|
12,941,775
|
|
US Treasury Bonds 4.875% 8/15/2045
|
4.75
|
1,210,000
|
1,206,030
|
|
US Treasury Bonds 5% 5/15/2045
|
4.87
|
15,530,000
|
15,732,011
|
|
US Treasury Bonds 5.25% 2/15/2029
|
3.91 to 3.94
|
5,406,000
|
5,624,563
|
|
US Treasury Bonds Inflation-Indexed 2.375% 2/15/2055
|
2.47 to 2.67
|
13,801,743
|
12,839,917
|
|
US Treasury Bonds Inflation-Indexed 2.375% 2/15/2056
|
2.62 to 2.72
|
5,048,058
|
4,692,796
|
|
US Treasury Notes 1% 7/31/2028
|
0.96 to 1.13
|
49,141,000
|
46,081,205
|
|
US Treasury Notes 1.125% 8/31/2028
|
1.13 to 1.14
|
339,517,000
|
318,562,435
|
|
US Treasury Notes 1.25% 9/30/2028
|
1.37 to 1.46
|
38,280,000
|
35,950,303
|
|
US Treasury Notes 1.375% 10/31/2028
|
1.52
|
8,911,000
|
8,379,821
|
|
US Treasury Notes 2.375% 3/31/2029
|
2.50
|
7,500,000
|
7,193,262
|
|
US Treasury Notes 2.625% 5/31/2027
|
2.99
|
90,000
|
88,779
|
|
US Treasury Notes 2.625% 7/31/2029
|
2.80
|
23,875,000
|
22,962,901
|
|
US Treasury Notes 2.75% 8/15/2032
|
2.79 to 3.99
|
83,642,000
|
77,359,048
|
|
US Treasury Notes 2.875% 5/15/2032
|
2.84
|
30,472,000
|
28,498,462
|
|
US Treasury Notes 3.125% 11/15/2028
|
2.66 to 3.01
|
28,930,000
|
28,425,985
|
|
US Treasury Notes 3.125% 8/31/2029
|
4.48
|
3,948,000
|
3,855,006
|
|
US Treasury Notes 3.375% 5/15/2033
|
3.83
|
7,260,000
|
6,916,001
|
|
US Treasury Notes 3.5% 1/15/2029
|
3.65 to 3.66
|
73,900,000
|
73,270,696
|
|
US Treasury Notes 3.5% 10/15/2028
|
3.50
|
41,940,000
|
41,618,035
|
|
US Treasury Notes 3.5% 12/15/2028
|
3.51
|
16,530,000
|
16,393,111
|
|
US Treasury Notes 3.5% 2/15/2029
|
3.45 to 3.62
|
769,610,000
|
762,936,034
|
|
US Treasury Notes 3.5% 2/15/2033
|
3.91
|
49,310,000
|
47,445,466
|
|
US Treasury Notes 3.5% 3/15/2029
|
3.63 to 3.84
|
231,310,000
|
229,267,968
|
|
US Treasury Notes 3.625% 12/31/2030
|
3.85
|
17,800,000
|
17,558,031
|
|
US Treasury Notes 3.625% 3/31/2030
|
3.54 to 3.55
|
21,930,000
|
21,702,990
|
|
US Treasury Notes 3.68% 2/29/2028
|
3.90
|
21,670,000
|
21,499,010
|
|
US Treasury Notes 3.75% 11/30/2032
|
3.95
|
14,870,000
|
14,553,432
|
|
US Treasury Notes 3.75% 2/28/2033
|
3.89 to 3.93
|
34,300,000
|
33,517,531
|
|
US Treasury Notes 3.75% 5/31/2030
|
3.69
|
12,660,000
|
12,582,853
|
|
US Treasury Notes 3.75% 8/31/2031
|
3.65 to 4.10
|
71,020,000
|
70,137,798
|
|
US Treasury Notes 3.875% 12/31/2032
|
3.95
|
6,560,000
|
6,464,931
|
|
US Treasury Notes 3.875% 8/15/2033
|
4.57 to 4.77
|
22,052,000
|
21,648,001
|
|
US Treasury Notes 3.875% 8/15/2034
|
3.71 to 3.80
|
44,930,000
|
43,783,207
|
|
US Treasury Notes 4% 10/31/2029
|
4.15
|
19,300,000
|
19,376,899
|
|
US Treasury Notes 4% 11/15/2035
|
4.11 to 4.24
|
77,900,000
|
75,989,016
|
|
US Treasury Notes 4% 7/31/2029
|
3.83
|
2,580,000
|
2,591,891
|
|
US Treasury Notes 4% 7/31/2032
|
4.16
|
5,030,000
|
5,004,654
|
|
US Treasury Notes 4.125% 10/31/2029
|
3.63
|
16,239,000
|
16,372,210
|
|
US Treasury Notes 4.125% 10/31/2031
|
4.39
|
21,800,000
|
21,914,109
|
|
US Treasury Notes 4.125% 2/15/2036
|
3.97 to 4.11
|
27,290,000
|
26,863,594
|
|
US Treasury Notes 4.125% 3/31/2031
|
4.36 to 4.71
|
27,900,000
|
28,097,262
|
|
US Treasury Notes 4.125% 3/31/2032
|
4.23
|
24,070,000
|
24,154,621
|
|
US Treasury Notes 4.125% 7/31/2028
|
4.19
|
15,000,000
|
15,103,125
|
|
US Treasury Notes 4.125% 8/31/2030
|
4.19 to 4.61
|
31,870,000
|
32,115,250
|
|
US Treasury Notes 4.25% 11/15/2034
|
4.31
|
12,425,000
|
12,421,603
|
|
US Treasury Notes 4.25% 2/28/2031
|
4.26 to 4.36
|
24,300,000
|
24,615,141
|
|
US Treasury Notes 4.25% 6/30/2029
|
4.11 to 4.12
|
42,740,000
|
43,272,297
|
|
US Treasury Notes 4.375% 11/30/2028
|
4.11 to 4.15
|
32,510,000
|
32,959,552
|
|
US Treasury Notes 4.375% 11/30/2030
|
4.36
|
3,000
|
3,053
|
|
US Treasury Notes 4.375% 5/15/2034
|
3.84
|
4,680,000
|
4,729,359
|
|
US Treasury Notes 4.625% 9/30/2028
|
4.76
|
21,630,000
|
22,044,012
|
|
US Treasury Notes 4.75% 2/15/2045
|
4.61 to 4.99
|
60,470,000
|
59,416,499
|
|
US Treasury Notes 4.875% 10/31/2030
|
4.31 to 4.92
|
25,780,000
|
26,784,010
|
|
|
TOTAL U.S. TREASURY OBLIGATIONS
(Cost $3,503,956,952)
|
3,283,305,824
|
|||
Money Market Funds - 9.4%
|
||||
Yield (%)
|
Shares
|
Value ($)
|
||
Fidelity Cash Central Fund (v)
|
3.69
|
1,247,101,112
|
1,247,350,532
|
|
Fidelity Securities Lending Cash Central Fund (v)(w)
|
3.69
|
192,667,363
|
192,686,630
|
|
|
TOTAL MONEY MARKET FUNDS
(Cost $1,440,001,374)
|
1,440,037,162
|
|||
Purchased Swaptions - 0.0%
|
||||
Expiration
Date
|
Notional
Amount
|
Value ($)
|
||
Put Swaptions - 0.0%
|
||||
Option on an interest rate swap with Goldman Sachs Bank USA to pay annually a fixed rate of 3.275% and receive annually a floating rate based on US SOFR Index, expiring March 2029
|
3/2028
|
90,030,000
|
577,219
|
|
Option on an interest rate swap with Bank of America NA to pay annually a fixed rate of 4.01% and receive annually a floating rate based on US SOFR Index, expiring May 2035
|
5/2030
|
22,140,000
|
745,674
|
|
Option on an interest rate swap with Bank of America NA to pay annually a fixed rate of 4.065% and receive annually a floating rate based on US SOFR Index, expiring May 2035
|
5/2030
|
16,580,000
|
540,799
|
|
Option on an interest rate swap with Citibank NA to pay annually a fixed rate of 4.373% and receive annually a floating rate based on US SOFR Index, expiring March 2041
|
3/2031
|
14,430,000
|
881,673
|
|
Option on an interest rate swap with Bank of America NA to pay annually a fixed rate of 4.025% and receive annually a floating rate based on US SOFR Index, expiring April 2035
|
4/2030
|
18,030,000
|
598,008
|
|
Option on an interest rate swap with Bank of America NA to pay annually a fixed rate of 3.8% and receive annually a floating rate based on US SOFR Index, expiring August 2036
|
8/2026
|
5,250,000
|
113,230
|
|
Option on an interest rate swap with Morgan Stanley Capital Services LLC to pay annually a fixed rate of 3.853% and receive annually a floating rate based on US SOFR Index, expiring September 2035
|
9/2030
|
16,900,000
|
634,842
|
|
Option on an interest rate swap with Citibank NA to pay annually a fixed rate of 4.34% and receive annually a floating rate based on US SOFR Index, expiring March 2041
|
3/2031
|
15,610,000
|
960,818
|
|
Option on an interest rate swap with Bank of America NA to pay annually a fixed rate of 3.95% and receive annually a floating rate based on US SOFR Index, expiring May 2035
|
4/2030
|
12,870,000
|
445,184
|
|
Option on an interest rate swap with Bank of America NA to pay annually a fixed rate of 3.7375% and receive annually a floating rate based on US SOFR Index, expiring September 2036
|
9/2026
|
7,090,000
|
188,431
|
|
Option on an interest rate swap with Bank of America NA to pay annually a fixed rate of 3.565% and receive annually a floating rate based on US SOFR Index, expiring September 2036
|
9/2026
|
23,780,000
|
866,998
|
|
Option on an interest rate swap with Morgan Stanley Capital Services LLC to pay annually a fixed rate of 3.4725% and receive annually a floating rate based on US SOFR Index, expiring March 2029
|
3/2028
|
69,000,000
|
384,330
|
|
TOTAL PUT SWAPTIONS
|
6,937,206
|
|||
Call Swaptions - 0.0%
|
||||
Option on an interest rate swap with Bank of America NA to receive annually a fixed rate of 3.7375% and pay annually a floating rate based on US SOFR Index, expiring September 2036
|
9/2026
|
7,090,000
|
93,595
|
|
Option on an interest rate swap with Bank of America NA to receive annually a fixed rate of 4.025% and pay annually a floating rate based on US SOFR Index, expiring April 2035
|
4/2030
|
18,030,000
|
581,533
|
|
Option on an interest rate swap with Bank of America NA to receive annually a fixed rate of 3.8% and pay annually a floating rate based on US SOFR Index, expiring August 2036
|
8/2026
|
5,250,000
|
72,566
|
|
Option on an interest rate swap with Bank of America NA to receive annually a fixed rate of 3.95% and pay annually a floating rate based on US SOFR Index, expiring May 2035
|
4/2030
|
12,870,000
|
394,670
|
|
TOTAL CALL SWAPTIONS
|
1,142,364
|
|||
TOTAL PURCHASED SWAPTIONS
(Cost $8,469,800)
|
8,079,570
|
|||
|
TOTAL INVESTMENT IN SECURITIES - 101.5%
(Cost $15,600,283,095)
|
15,588,890,849
|
NET OTHER ASSETS (LIABILITIES) - (1.5)% (x)
|
(213,316,779)
|
NET ASSETS - 100.0%
|
15,375,574,070
|
TBA Sale Commitments
|
||
Principal
Amount (a)
|
Value ($)
|
|
U.S. Government Agency - Mortgage Securities
|
||
Ginnie Mae II Pool 2.5% 4/1/2056
|
(3,200,000)
|
(2,747,193)
|
Ginnie Mae II Pool 5.5% 4/1/2056
|
(14,400,000)
|
(14,479,633)
|
Ginnie Mae II Pool 6% 4/1/2056
|
(14,750,000)
|
(14,993,145)
|
Uniform Mortgage Backed Securities 2% 4/1/2056
|
(49,400,000)
|
(39,703,319)
|
Uniform Mortgage Backed Securities 2.5% 4/1/2056
|
(38,575,000)
|
(32,427,109)
|
Uniform Mortgage Backed Securities 3% 4/1/2056
|
(36,600,000)
|
(32,165,108)
|
Uniform Mortgage Backed Securities 3.5% 4/1/2056
|
(42,500,000)
|
(38,937,307)
|
Uniform Mortgage Backed Securities 4% 4/1/2056
|
(14,975,000)
|
(14,112,182)
|
Uniform Mortgage Backed Securities 4% 5/1/2056
|
(14,975,000)
|
(14,101,068)
|
Uniform Mortgage Backed Securities 4.5% 4/1/2056
|
(47,100,000)
|
(45,414,707)
|
TOTAL U.S. GOVERNMENT AGENCY - MORTGAGE SECURITIES
|
(249,080,771)
|
|
TOTAL TBA SALE COMMITMENTS
(Proceeds $252,920,498)
|
(249,080,771)
|
|
Written Swaptions
|
||||
Expiration
Date
|
Notional
Amount
|
Value ($)
|
||
Call Swaptions
|
||||
Option on an interest rate swap with JPMorgan Chase Bank NA to pay annualy a fixed rate of 4.36% and receive annually a floating rate based on US SOFR Index, expiring March 2041
|
3/2031
|
51,200,000
|
(3,070,541)
|
|
Futures Contracts
|
||||
Number
of contracts
|
Expiration
Date
|
Notional
Amount ($)
|
Unrealized
Appreciation/
(Depreciation) ($)
|
|
LONG
|
||||
Interest Rate Contracts
|
||||
CBOT 10Y US Treasury Notes Contracts (United States)
|
10,409
|
6/2026
|
1,155,399,000
|
(14,518,315)
|
CBOT 2Y US Treasury Notes Contracts (United States)
|
1,774
|
6/2026
|
368,063,422
|
(1,435,342)
|
CBOT US Treasury Ultra Bond Contracts (United States)
|
5,507
|
6/2026
|
640,532,938
|
(13,830,089)
|
TOTAL LONG
|
(29,783,746)
|
|||
SHORT
|
||||
Interest Rate Contracts
|
||||
Eurex Deutschland German Federal Republic Contracts (Germany)
|
(299)
|
6/2026
|
(38,105,762)
|
337,255
|
TOTAL FUTURES CONTRACTS
|
(29,446,491)
|
|||
The notional amount of long futures as a percentage of Net Assets is 14.1%.
|
||||
The notional amount of short futures as a percentage of Net Assets is 0.2%.
|
||||
Forward Foreign Currency Contracts
|
||||||
Currency
Purchased
|
Currency
Sold
|
Counterparty
|
Settlement
Date
|
Unrealized
Appreciation/
(Depreciation) ($)
|
||
CAD
|
4,610,000
|
USD
|
3,368,723
|
Canadian Imperial Bank of Commerce
|
4/2026
|
(52,612)
|
EUR
|
3,138,000
|
USD
|
3,629,191
|
Bank of America NA
|
4/2026
|
628
|
EUR
|
3,443,000
|
USD
|
3,968,896
|
Canadian Imperial Bank of Commerce
|
4/2026
|
13,726
|
EUR
|
46,951,000
|
USD
|
54,407,871
|
Canadian Imperial Bank of Commerce
|
4/2026
|
(98,228)
|
EUR
|
3,000,000
|
USD
|
3,451,102
|
Citibank NA
|
4/2026
|
19,089
|
EUR
|
4,578,000
|
USD
|
5,316,125
|
HSBC Bank PLC
|
4/2026
|
(20,614)
|
EUR
|
27,478,000
|
USD
|
31,875,258
|
JPMorgan Chase Bank NA
|
4/2026
|
(90,624)
|
EUR
|
36,576,000
|
USD
|
42,231,557
|
JPMorgan Chase Bank NA
|
4/2026
|
77,009
|
EUR
|
28,260,000
|
USD
|
32,642,157
|
JPMorgan Chase Bank NA
|
4/2026
|
47,040
|
USD
|
15,108,609
|
AUD
|
21,684,000
|
JPMorgan Chase Bank NA
|
4/2026
|
150,541
|
USD
|
51,489,630
|
AUD
|
73,115,000
|
Royal Bank of Canada
|
4/2026
|
1,053,404
|
USD
|
129,797,084
|
CAD
|
176,885,000
|
Barclays Bank PLC
|
4/2026
|
2,558,407
|
USD
|
42,750,690
|
CAD
|
59,160,000
|
Canadian Imperial Bank of Commerce
|
4/2026
|
195,131
|
USD
|
48,564,064
|
CHF
|
37,732,000
|
Barclays Bank PLC
|
4/2026
|
1,291,934
|
USD
|
431,615
|
EUR
|
372,000
|
Canadian Imperial Bank of Commerce
|
4/2026
|
1,639
|
USD
|
923,135,974
|
EUR
|
793,406,000
|
Barclays Bank PLC
|
4/2026
|
5,379,245
|
USD
|
11,328,217
|
EUR
|
9,743,000
|
Canadian Imperial Bank of Commerce
|
4/2026
|
58,194
|
USD
|
6,466,986
|
EUR
|
5,611,000
|
Royal Bank of Canada
|
4/2026
|
(23,427)
|
USD
|
81,518,818
|
GBP
|
60,883,000
|
JPMorgan Chase Bank NA
|
4/2026
|
935,692
|
USD
|
6,869,829
|
GBP
|
5,124,000
|
Royal Bank of Canada
|
4/2026
|
87,838
|
USD
|
91,829,478
|
GBP
|
68,697,000
|
Royal Bank of Canada
|
4/2026
|
903,949
|
USD
|
30,887,545
|
GBP
|
23,113,000
|
State Street Bank & Trust Co
|
4/2026
|
295,791
|
USD
|
15,277,859
|
JPY
|
2,399,688,000
|
Royal Bank of Canada
|
4/2026
|
134,846
|
USD
|
17,001,662
|
SGD
|
21,655,000
|
Barclays Bank PLC
|
4/2026
|
139,363
|
TOTAL FORWARD FOREIGN CURRENCY CONTRACTS
|
13,057,961
|
|||||
Unrealized Appreciation
|
13,343,466
|
|||||
Unrealized Depreciation
|
(285,505)
|
|||||
Interest Rate Swaps
|
||||||||||
Payment Received
|
Payment
Frequency
|
Payment Paid
|
Payment
Frequency
|
Clearinghouse /
Counterparty(1)
|
Maturity
Date
|
Notional
Amount(3)
|
Value ($)
|
Upfront
Premium
Received/
(Paid) ($)(2)
|
Unrealized
Appreciation/
(Depreciation) ($)
|
|
U.S. SOFR Index(4)
|
Annual
|
3%
|
Annual
|
LCH
|
6/2028
|
574,709,000
|
1,961,029
|
0
|
1,961,029
|
|
U.S. SOFR Index(4)
|
Annual
|
3.25%
|
Annual
|
LCH
|
6/2029
|
67,851,000
|
371,190
|
0
|
371,190
|
|
U.S. SOFR Index(4)
|
Annual
|
4%
|
Annual
|
LCH
|
6/2041
|
3,890,000
|
41,549
|
0
|
41,549
|
|
TOTAL INTEREST RATE SWAPS
|
2,373,768
|
0
|
2,373,768
|
|||||||
AUD
|
-
|
Australian Dollar
|
CAD
|
-
|
Canadian Dollar
|
CHF
|
-
|
Swiss Franc
|
EUR
|
-
|
European Monetary Unit (Euro)
|
GBP
|
-
|
British Pound Sterling
|
JPY
|
-
|
Japanese Yen
|
SGD
|
-
|
Singapore Dollar
|
USD
|
-
|
United States Dollar
|
ETF
|
-
|
EXCHANGE-TRADED FUND
|
(a)
|
Amount is stated in United States dollars unless otherwise noted.
|
(b)
|
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.
|
(c)
|
Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.
|
(d)
|
Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors.
|
(e)
|
Level 3 security.
|
(f)
|
A coupon rate of 0% signifies an unsettled loan. The coupon rate will be determined upon settlement of the loan after period end.
|
(g)
|
Non-income producing - Security is in default.
|
(h)
|
Security or a portion of the security was pledged to cover margin requirements for centrally cleared swaps. At period end, the value of securities pledged amounted to $11,581,990.
|
(i)
|
Security or a portion of the security purchased on a delayed delivery or when-issued basis.
|
(j)
|
Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $52,160,708.
|
(k)
|
Security or a portion of the security has been segregated as collateral for over the counter (OTC) derivatives. At period end, the value of securities pledged amounts to $363,202.
|
(l)
|
Security initially issued at one coupon which converts to a higher coupon at a specified date. The rate shown is the rate at period end.
|
(m)
|
Security exempt from registration under Regulation S of the Securities Act of 1933 and may be resold to qualified foreign investors outside of the United States. At the end of the period, the value of securities amounted to $1,042,898,218 or 6.8% of net assets.
|
(n)
|
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 $2,567,273,500 or 16.7% of net assets.
|
(o)
|
Interest Only (IO) security represents the right to receive only monthly interest payments on an underlying pool of assets. Principal shown is the outstanding par amount of the pool as of the end of the period.
|
(p)
|
Non-income producing.
|
(q)
|
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 $24,522,122 or 0.2% of net assets.
|
(r)
|
Security or a portion of the security is on loan at period end.
|
(s)
|
Security is perpetual in nature with no stated maturity date.
|
(t)
|
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. A complete unaudited schedule of portfolio holdings for each Fidelity Central Fund is filed with the SEC for the first and third quarters of each fiscal year on Form N-PORT and is available upon request or at the SEC's website at www.sec.gov. An unaudited holdings listing for the Fund, which presents direct holdings as well as the pro-rata share of securities and other investments held indirectly through its investment in underlying non-money market Fidelity Central Funds, is available at fidelity.com and/or institutional.fidelity.com, as applicable. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
|
(u)
|
Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.
|
(v)
|
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.
|
(w)
|
Investment made with cash collateral received from securities on loan.
|
(x)
|
Includes $1,506,431 of cash collateral to cover margin requirements for futures contracts.
|
Additional information on each restricted holding is as follows:
|
||
Security
|
Acquisition Date
|
Acquisition Cost ($)
|
EchoStar Corp
|
9/30/2024
|
5,749,854
|
New Cotai LLC / New Cotai Capital Corp
|
9/11/2020
|
11,110,731
|
Affiliate
|
Value,
beginning
of period ($)
|
Purchases ($)
|
Sales
Proceeds ($)
|
Dividend
Income ($)
|
Realized
Gain (loss) ($)
|
Change in
Unrealized
appreciation
(depreciation) ($)
|
Value,
end
of period ($)
|
Shares,
end
of period
|
% ownership,
end
of period
|
Fidelity Cash Central Fund
|
1,128,999,508
|
1,291,284,319
|
1,172,933,295
|
10,927,266
|
(116)
|
116
|
1,247,350,532
|
1,247,101,112
|
2.0%
|
Fidelity Emerging Markets Debt Central Fund
|
2,410,867,822
|
32,208,251
|
29,750,826
|
32,208,252
|
177,147
|
(48,132,775)
|
2,365,369,619
|
283,957,937
|
100.0%
|
Fidelity Floating Rate Central Fund
|
1,000,467,642
|
43,296,280
|
13,000,000
|
18,509,106
|
(1,254,619)
|
(15,901,295)
|
1,013,608,008
|
10,785,359
|
52.6%
|
Fidelity Securities Lending Cash Central Fund
|
36,676,312
|
760,959,301
|
604,948,983
|
31,282
|
-
|
-
|
192,686,630
|
192,667,363
|
0.5%
|
Total
|
4,577,011,284
|
2,127,748,151
|
1,820,633,104
|
61,675,906
|
(1,077,588)
|
(64,033,954)
|
4,819,014,789
|
||