|
2026 Quarterly Report
(Unaudited)
|
|
BlackRock Core Bond Trust (BHK)
|
|
Not FDIC Insured • May Lose Value • No Bank Guarantee
|
|
Security
|
|
Par
(000)
|
Value
|
|
Asset-Backed Securities
|
|||
|
522 Funding CLO Ltd., Series 2017-1A, Class CR, (3-
mo. CME Term SOFR + 2.41%), 6.08%,
10/20/34(a)(b)
|
USD
|
500
|
$ 500,549
|
|
AIMCO CLO Ltd., Series 2018-BA, Class CRR, (3-mo.
CME Term SOFR + 2.40%), 6.07%, 04/16/37(a)(b)
|
|
650
|
650,000
|
|
Apidos CLO XVIII-R(a)(b)
|
|
|
|
|
Series 2018-18A, Class A1R2, (3-mo. CME Term
SOFR + 1.33%), 5.00%, 01/22/38
|
|
1,295
|
1,295,293
|
|
Series 2018-18A, Class BR2, (3-mo. CME Term
SOFR + 1.70%), 5.37%, 01/22/38
|
|
777
|
777,803
|
|
Apidos CLO XXIV, Series 2016-24A, Class A1AL, (3-mo.
CME Term SOFR + 1.21%), 4.88%, 10/20/30(a)(b)
|
|
72
|
71,720
|
|
Ballyrock CLO Ltd., Series 2024-28A, Class A2, (3-mo.
CME Term SOFR + 1.70%), 5.37%, 01/20/38(a)(b)
|
|
500
|
500,857
|
|
Birch Grove CLO Ltd.(a)(b)
|
|
|
|
|
Series 2021-3A, Class D1R, (3-mo. CME Term SOFR
+ 2.85%), 6.52%, 01/19/38
|
|
250
|
247,394
|
|
Series 2023-6A, Class A1R, (3-mo. CME Term SOFR
+ 1.38%), 5.05%, 07/20/37
|
|
1,500
|
1,500,883
|
|
Bryant Park Funding Ltd., Series 2024-22A, Class C,
(3-mo. CME Term SOFR + 2.60%), 6.27%,
04/15/37(a)(b)
|
|
1,200
|
1,201,225
|
|
Buckhorn Park CLO Ltd., Series 2019-1A, Class ARR,
(3-mo. CME Term SOFR + 1.07%), 4.74%,
07/18/34(a)(b)
|
|
2,500
|
2,496,430
|
|
Canyon Capital CLO Ltd.(a)(b)
|
|
|
|
|
Series 2016-1A, Class CR, (3-mo. CME Term SOFR
+ 2.16%), 5.83%, 07/15/31
|
|
250
|
250,907
|
|
Series 2021-2A, Class D, (3-mo. CME Term SOFR +
3.61%), 7.28%, 04/15/34
|
|
500
|
481,286
|
|
Carlyle US CLO Ltd.(a)(b)(c)
|
|
|
|
|
Series 2026-2A, Class D, 04/20/39
|
|
750
|
750,000
|
|
Series 2026-3A, Class D, 04/15/39
|
|
255
|
255,000
|
|
CarVal CLO II Ltd., Series 2019-1A, Class AR2, (3-mo.
CME Term SOFR + 1.02%), 4.69%, 04/20/32(a)(b)
|
|
335
|
334,670
|
|
CarVal CLO VC Ltd., Series 2021-2A, Class D, (3-mo.
CME Term SOFR + 3.51%), 7.18%, 10/15/34(a)(b)
|
|
250
|
245,788
|
|
Cedar Funding XIV CLO Ltd., Series 2021-14A,
Class B1R, (3-mo. CME Term SOFR + 1.70%),
5.37%, 10/15/37(a)(b)
|
|
500
|
500,275
|
|
CIFC Funding Ltd.(a)(b)
|
|
|
|
|
Series 2017-1A, Class CRR, (3-mo. CME Term
SOFR + 2.45%), 6.12%, 04/21/37
|
|
1,000
|
1,000,983
|
|
Series 2018-1A, Class A1R, (3-mo. CME Term SOFR
+ 1.32%), 4.99%, 01/18/38
|
|
1,036
|
1,036,306
|
|
Series 2018-1A, Class BR, (3-mo. CME Term SOFR
+ 1.70%), 5.37%, 01/18/38
|
|
1,295
|
1,294,210
|
|
Series 2019-1A, Class D1R2, (3-mo. CME Term
SOFR + 3.05%), 6.72%, 10/20/37
|
|
500
|
493,856
|
|
Series 2020-1A, Class DR, (3-mo. CME Term SOFR
+ 3.36%), 7.03%, 07/15/36
|
|
500
|
491,244
|
|
Compass Datacenters Issuer III LLC, Series 2025-3A,
Class A2, 5.29%, 07/25/50(b)
|
|
520
|
514,891
|
|
Concord Music Royalties LLC, Series 2024-1A, Class A,
5.64%, 10/20/74(b)
|
|
164
|
164,636
|
|
Consolidated Communications LLC/Fidium Fiber
Finance Holdco LLC, Series 2025-4A, Class B,
5.77%, 12/20/55(b)
|
|
650
|
652,494
|
|
CWHEQ Revolving Home Equity Loan Trust,
Series 2006-I, Class 1A, (1 mo. Term SOFR +
0.25%), 3.93%, 01/15/37(a)
|
|
634
|
615,497
|
|
Security
|
|
Par
(000)
|
Value
|
|
Asset-Backed Securities (continued)
|
|||
|
Dryden Clo Ltd., Series 2018-61A, Class DR, (3-mo.
CME Term SOFR + 3.36%), 7.03%, 01/17/32(a)(b)
|
USD
|
670
|
$ 670,001
|
|
Dryden CLO Ltd., Series 2018-64A, Class D, (3-mo.
CME Term SOFR + 2.91%), 6.58%, 04/18/31(a)(b)
|
|
1,250
|
1,251,765
|
|
Dryden Senior Loan Fund, Series 2015-37A, Class AR,
(3-mo. CME Term SOFR + 1.36%), 5.03%,
01/15/31(a)(b)
|
|
29
|
28,694
|
|
EDvestinU Private Education Loan Issue No. 3 LLC,
Series 2021-A, Class B, 3.50%, 11/25/50(b)
|
|
110
|
93,610
|
|
Elmwood CLO 26 Ltd., Series 2026-1A, Class C, (3-mo.
CME Term SOFR + 2.40%), 6.07%, 04/18/37(a)(b)
|
|
1,300
|
1,300,000
|
|
Elmwood CLO VI Ltd., Series 2020-3A, Class BRR,
(3-mo. CME Term SOFR + 1.70%), 5.37%,
07/18/37(a)(b)
|
|
250
|
250,280
|
|
GoldenTree Loan Management U.S. CLO Ltd.,
Series 2021-11A, Class AR, (3-mo. CME Term SOFR
+ 1.08%), 4.75%, 10/20/34(a)(b)
|
|
470
|
469,048
|
|
GoodLeap Home Improvement Solutions Trust,
Series 2025-3A, Class A, 5.00%, 10/20/49(b)
|
|
311
|
309,868
|
|
GreenSky Home Improvement Issuer Trust(b)
|
|
|
|
|
Series 2024-2, Class C, 5.55%, 10/27/59
|
|
86
|
86,484
|
|
Series 2025-2A, Class A4, 4.89%, 06/25/60
|
|
173
|
172,868
|
|
Huntington Bank Auto Credit-Linked Notes,
Series 2024-2, Class B1, 5.44%, 10/20/32(b)
|
|
415
|
418,002
|
|
Lendmark Funding Trust, Series 2025-2A, Class C,
5.28%, 10/20/34(b)
|
|
1,000
|
998,466
|
|
Long Beach Mortgage Loan Trust, Series 2006-8,
Class 2A4, (1 mo. Term SOFR + 0.59%), 4.27%,
09/25/36(a)
|
|
5,661
|
1,395,704
|
|
Lyra Music Assets Delaware LP, Series 2025-1A,
Class A2, 5.60%, 09/20/65(b)
|
|
205
|
205,912
|
|
Madison Park Funding LIX Ltd., Series 2021-59A,
Class A1R, (3-mo. CME Term SOFR + 1.50%),
5.17%, 04/18/37(a)(b)
|
|
1,300
|
1,300,569
|
|
Madison Park Funding XXXVII Ltd., Series 2019-37A,
Class BR2, (3-mo. CME Term SOFR + 1.95%),
5.62%, 04/15/37(a)(b)
|
|
1,000
|
1,000,251
|
|
Navient Private Education Refi Loan Trust(b)
|
|
|
|
|
Series 2019-D, Class A2A, 3.01%, 12/15/59
|
|
281
|
273,511
|
|
Series 2019-GA, Class A, 2.40%, 10/15/68
|
|
83
|
80,671
|
|
Series 2021-CA, Class A, 1.06%, 10/15/69
|
|
494
|
448,835
|
|
Series 2021-DA, Class C, 3.48%, 04/15/60
|
|
365
|
340,306
|
|
Series 2021-EA, Class A, 0.97%, 12/16/69
|
|
609
|
544,883
|
|
Series 2023-A, Class A, 5.51%, 10/15/71
|
|
109
|
110,423
|
|
Nelnet Student Loan Trust(b)
|
|
|
|
|
Series 2021-A, Class D, 4.93%, 04/20/62
|
|
460
|
419,468
|
|
Series 2021-BA, Class B, 2.68%, 04/20/62
|
|
1,983
|
1,785,489
|
|
Series 2021-CA, Class AFL, (1 mo. Term SOFR +
0.85%), 4.53%, 04/20/62(a)
|
|
203
|
202,338
|
|
Series 2025-BA, Class D, 6.04%, 05/17/55
|
|
222
|
218,370
|
|
Neuberger Berman Loan Advisers CLO Ltd.(a)(b)
|
|
|
|
|
Series 2019-31A, Class AR2, (3-mo. CME Term
SOFR + 1.23%), 4.90%, 01/20/39
|
|
1,615
|
1,613,637
|
|
Series 2019-34A, Class BR2, (3-mo. CME Term
SOFR + 1.65%), 5.32%, 07/20/39
|
|
530
|
529,592
|
|
OCP CLO Ltd.(a)(b)
|
|
|
|
|
Series 2017-13A, Class AR2, (3-mo. CME Term
SOFR + 1.34%), 5.01%, 11/26/37
|
|
1,000
|
1,000,485
|
|
Series 2024-38A, Class A, (3-mo. CME Term SOFR +
1.33%), 5.00%, 01/21/38
|
|
1,000
|
1,000,014
|
|
Security
|
|
Par
(000)
|
Value
|
|
Asset-Backed Securities (continued)
|
|||
|
Octagon Investment Partners XVII Ltd., Series 2013-1A,
Class BR2, (3-mo. CME Term SOFR + 1.66%),
5.33%, 01/25/31(a)(b)
|
USD
|
165
|
$ 164,979
|
|
Octagon Investment Partners XXII Ltd., Series 2014-1A,
Class DRR, (3-mo. CME Term SOFR + 3.01%),
6.68%, 01/22/30(a)(b)
|
|
500
|
499,355
|
|
OHA Credit Funding Ltd., Series 2022-12RA, Class C,
(3-mo. CME Term SOFR + 1.80%), 5.47%,
07/20/37(a)(b)
|
|
1,250
|
1,250,159
|
|
OHS Issuer LLC, Series 2026-1, Class A2, 5.98%,
02/25/61(b)
|
|
370
|
362,454
|
|
Palmer Square CLO Ltd., Series 2024-4A, Class B,
(3-mo. CME Term SOFR + 1.65%), 5.32%,
01/15/38(a)(b)
|
|
920
|
919,338
|
|
Pikes Peak CLO Ltd., Series 2020-6A, Class DRR, (3-
mo. CME Term SOFR + 2.50%), 6.16%,
05/18/34(a)(b)
|
|
250
|
238,763
|
|
Planet Fitness Master Issuer LLC, Series 2025-1A,
Class A2II, 5.65%, 12/06/55(b)
|
|
230
|
227,064
|
|
Prodigy Finance DAC, Series 2021-1A, Class C, (1 mo.
Term SOFR + 3.86%), 7.54%, 07/25/51(a)(b)
|
|
36
|
36,216
|
|
QTS Issuer ABS II LLC(b)
|
|
|
|
|
Series 2026-1A, Class A2, 5.36%, 01/05/56
|
|
406
|
396,789
|
|
Series 2026-1A, Class B, 6.73%, 01/05/56
|
|
269
|
266,232
|
|
Regatta 30 Funding Ltd., Series 2024-4A, Class B, (3-
mo. CME Term SOFR + 1.65%), 5.32%,
01/25/38(a)(b)
|
|
1,700
|
1,698,742
|
|
Regatta XVIII Funding Ltd., Series 2021-1A, Class BR,
(3-mo. CME Term SOFR + 1.55%), 5.22%,
04/15/38(a)(b)
|
|
850
|
846,191
|
|
Rockford Tower CLO Ltd., Series 2021-3A, Class A1R,
(3-mo. CME Term SOFR + 1.40%), 5.07%,
01/15/38(a)(b)
|
|
1,709
|
1,710,259
|
|
Romark CLO Ltd., Series 2017-1A, Class B, (3-mo.
CME Term SOFR + 2.41%), 6.08%, 10/23/30(a)(b)
|
|
500
|
502,137
|
|
Sandstone Peak II Ltd., Series 2023-1A, Class A1R,
(3-mo. CME Term SOFR + 1.41%), 5.08%,
07/20/38(a)(b)
|
|
1,000
|
1,000,391
|
|
Sesac Finance LLC, Series 2025-1, Class A2, 5.50%,
07/25/55(b)
|
|
345
|
338,196
|
|
Shentel Issuer LLC, Series 2025-1A, Class A2, 5.64%,
12/20/55(b)
|
|
760
|
765,750
|
|
SMB Private Education Loan Trust(b)
|
|
|
|
|
Series 2019-A, Class A2A, 3.44%, 07/15/36
|
|
369
|
366,032
|
|
Series 2019-B, Class A2A, 2.84%, 06/15/37
|
|
96
|
94,230
|
|
Series 2021-A, Class A2B, 1.59%, 01/15/53
|
|
229
|
212,314
|
|
Series 2021-A, Class B, 2.31%, 01/15/53
|
|
78
|
76,560
|
|
Series 2021-C, Class C, 3.00%, 01/15/53
|
|
108
|
97,603
|
|
Series 2021-C, Class D, 3.93%, 01/15/53
|
|
53
|
47,882
|
|
Series 2021-D, Class A1A, 1.34%, 03/17/53
|
|
599
|
567,006
|
|
Series 2022-C, Class A1A, 4.48%, 05/16/50
|
|
217
|
214,881
|
|
Series 2023-B, Class A1B, (30-day Avg SOFR +
1.80%), 5.47%, 10/16/56(a)
|
|
148
|
151,087
|
|
Series 2023-C, Class A1A, 5.67%, 11/15/52
|
|
974
|
993,462
|
|
Sofi Consumer Loan Program Trust(b)
|
|
|
|
|
Series 2026-B, Class A, 4.40%, 02/25/36
|
|
333
|
332,971
|
|
Series 2026-B, Class B, 4.90%, 02/25/36
|
|
350
|
349,620
|
|
Series 2026-B, Class C, 5.20%, 02/25/36
|
|
317
|
316,575
|
|
Series 2026-B, Class D, 5.56%, 02/25/36
|
|
312
|
311,634
|
|
Security
|
|
Par
(000)
|
Value
|
|
Asset-Backed Securities (continued)
|
|||
|
Sterling COOFS Trust(d)
|
|
|
|
|
Series 2004-1, Class A, 2.36%, 04/15/29
|
USD
|
700
|
$ —
|
|
Series 2004-2, Class Note, 2.08%, 03/30/30(b)
|
|
157
|
—
|
|
Structured Asset Securities Corp. Pass-Through
Certificates, Series 2002-AL1, Class A2, 3.45%,
02/25/32
|
|
9
|
7,290
|
|
Subway Funding LLC, Series 2024-1A, Class A2I,
6.03%, 07/30/54(b)
|
|
291
|
293,192
|
|
TCI-Symphony CLO Ltd., Series 2017-1A, Class AR,
(3-mo. CME Term SOFR + 1.19%), 4.86%,
07/15/30(a)(b)
|
|
26
|
26,119
|
|
Trestles CLO Ltd.(a)(b)
|
|
|
|
|
Series 2017-1A, Class CRR, (3-mo. CME Term
SOFR + 2.10%), 5.77%, 07/25/37
|
|
1,750
|
1,755,311
|
|
Series 2017-1A, Class D1RR, (3-mo. CME Term
SOFR + 3.15%), 6.82%, 07/25/37
|
|
250
|
250,271
|
|
Unique Pub Finance Co. PLC, Series 02, Class N,
6.46%, 03/30/32(e)
|
GBP
|
11
|
14,182
|
|
UPG HI Issuer Trust, Series 2025-2, Class A, 5.00%,
09/25/47(b)
|
USD
|
87
|
86,441
|
|
Upgrade Master Pass-Thru Trust(b)
|
|
|
|
|
Series 2025-ST4, Class A, 5.50%, 08/16/32
|
|
144
|
144,478
|
|
Series 2025-ST8, Class D, 5.91%, 12/15/33
|
|
124
|
123,319
|
|
UPX HIL Issuer Trust, Series 2025-1, Class A, 5.16%,
01/25/47(b)
|
|
273
|
271,938
|
|
US Bank NA, Series 2026-RVM1, Class B1, 4.96%,
12/25/46(b)
|
|
450
|
447,906
|
|
VB-S1 Issuer LLC, Series 2026-1A, Class F, 6.84%,
03/15/56(b)
|
|
891
|
894,761
|
|
Vista Point Securitization Trust, Series 2024-CES1,
Class A2, 6.84%, 05/25/54(b)
|
|
645
|
653,970
|
|
Voya CLO Ltd., Series 2018-2A, Class A2, (3-mo. CME
Term SOFR + 1.51%), 5.18%, 07/15/31(a)(b)
|
|
1,000
|
998,511
|
|
Warwick Capital CLO Ltd., Series 2024-5A, Class A1,
(3-mo. CME Term SOFR + 1.36%), 5.03%,
01/20/38(a)(b)
|
|
750
|
750,449
|
|
Whetstone Park CLO Ltd., Series 2021-1A, Class B1,
(3-mo. CME Term SOFR + 1.86%), 5.53%,
01/20/35(a)(b)
|
|
725
|
724,878
|
|
Whitebox CLO II Ltd., Series 2020-2A, Class D1R2,
(3-mo. CME Term SOFR + 2.90%), 6.57%,
10/24/37(a)(b)
|
|
500
|
496,905
|
|
Whitebox CLO III Ltd.(a)(b)
|
|
|
|
|
Series 2021-3A, Class DR, (3-mo. CME Term SOFR
+ 2.85%), 6.52%, 10/15/35
|
|
250
|
249,991
|
|
Series 2021-3A, Class ER, (3-mo. CME Term SOFR
+ 5.65%), 9.32%, 10/15/35
|
|
250
|
243,265
|
|
Wireless PropCo Funding LLC, Series 2025-1A,
Class B, 4.30%, 06/25/55(b)
|
|
725
|
687,328
|
|
Total Asset-Backed Securities — 8.8%
(Cost: $62,926,132)
|
61,319,118
|
||
|
|
|
Shares
|
|
|
Common Stocks
|
|||
|
Capital Markets — 0.0%
|
|
||
|
Wom New Holdco(d)(f)
|
|
465
|
10,695
|
|
Security
|
|
Shares
|
Value
|
|
Machinery — 0.0%
|
|
||
|
United Site Services, Inc.(d)(f)
|
|
2,025
|
$ 14,681
|
|
Wireless Telecommunication Services — 0.0%
|
|
||
|
Altice France Lux 3(f)
|
|
5,668
|
94,340
|
|
Total Common Stocks — 0.0%
(Cost: $141,777)
|
119,716
|
||
|
|
|
Par
(000)
|
|
|
Corporate Bonds
|
|||
|
Advertising Agencies — 0.6%
|
|||
|
Clear Channel Outdoor Holdings, Inc.(b)
|
|
|
|
|
7.75%, 04/15/28
|
USD
|
335
|
336,590
|
|
7.50%, 06/01/29
|
|
579
|
581,443
|
|
7.88%, 04/01/30(g)
|
|
383
|
400,811
|
|
7.13%, 02/15/31
|
|
471
|
493,464
|
|
7.50%, 03/15/33
|
|
559
|
591,980
|
|
CMG Media Corp., 8.88%, 06/18/29(b)
|
|
152
|
131,430
|
|
Lamar Media Corp.
|
|
|
|
|
4.00%, 02/15/30
|
|
21
|
20,039
|
|
5.38%, 11/01/33(b)
|
|
126
|
123,319
|
|
Neptune Bidco U.S., Inc.(b)
|
|
|
|
|
9.29%, 04/15/29
|
|
92
|
92,256
|
|
10.38%, 05/15/31
|
|
137
|
138,234
|
|
9.50%, 02/15/33
|
|
213
|
206,661
|
|
Omnicom Group, Inc., 5.40%, 10/01/48(g)
|
|
500
|
435,650
|
|
Outfront Media Capital LLC/Outfront Media Capital
Corp.(b)
|
|
|
|
|
5.00%, 08/15/27
|
|
46
|
45,892
|
|
4.25%, 01/15/29
|
|
236
|
227,504
|
|
4.63%, 03/15/30(g)
|
|
66
|
63,678
|
|
7.38%, 02/15/31
|
|
72
|
75,075
|
|
Stagwell Global LLC, 5.63%, 08/15/29(b)
|
|
69
|
65,692
|
|
|
|
|
4,029,718
|
|
Aerospace & Defense — 2.7%
|
|||
|
AAR Escrow Issuer LLC, 6.75%, 03/15/29(b)
|
|
253
|
257,504
|
|
ATI, Inc.
|
|
|
|
|
5.88%, 12/01/27
|
|
97
|
96,981
|
|
7.25%, 08/15/30
|
|
255
|
264,427
|
|
5.13%, 10/01/31
|
|
110
|
108,678
|
|
Boeing Co.
|
|
|
|
|
3.20%, 03/01/29
|
|
1,840
|
1,774,671
|
|
2.95%, 02/01/30
|
|
800
|
752,860
|
|
6.53%, 05/01/34
|
|
550
|
599,138
|
|
Bombardier, Inc.(b)
|
|
|
|
|
8.75%, 11/15/30
|
|
355
|
377,557
|
|
7.25%, 07/01/31
|
|
18
|
18,862
|
|
7.00%, 06/01/32
|
|
162
|
168,130
|
|
6.75%, 06/15/33
|
|
187
|
193,116
|
|
Efesto Bidco SpA Efesto U.S. LLC, Series XR, 7.50%,
02/15/32(b)
|
|
701
|
697,447
|
|
General Electric Co., 6.15%, 08/07/37
|
|
2,150
|
2,312,592
|
|
Goat Holdco LLC, 6.75%, 02/01/32(b)
|
|
83
|
83,509
|
|
L3Harris Technologies, Inc.
|
|
|
|
|
2.90%, 12/15/29
|
|
1,200
|
1,133,382
|
|
1.80%, 01/15/31
|
|
300
|
262,782
|
|
Lockheed Martin Corp., 3.80%, 03/01/45
|
|
800
|
632,007
|
|
Moog, Inc.(b)
|
|
|
|
|
4.25%, 12/15/27
|
|
10
|
9,994
|
|
Security
|
|
Par
(000)
|
Value
|
|
Aerospace & Defense (continued)
|
|||
|
Moog, Inc.(b) (continued)
|
|
|
|
|
5.50%, 10/15/34
|
USD
|
74
|
$ 74,232
|
|
Northrop Grumman Corp.
|
|
|
|
|
4.70%, 03/15/33
|
|
400
|
399,563
|
|
4.75%, 06/01/43
|
|
850
|
767,466
|
|
RTX Corp.
|
|
|
|
|
2.38%, 03/15/32
|
|
1,000
|
880,383
|
|
5.15%, 02/27/33
|
|
900
|
917,866
|
|
4.50%, 06/01/42
|
|
300
|
266,220
|
|
6.40%, 03/15/54
|
|
700
|
754,820
|
|
TransDigm, Inc.(b)
|
|
|
|
|
6.75%, 08/15/28
|
|
150
|
151,821
|
|
6.38%, 03/01/29
|
|
520
|
529,705
|
|
6.63%, 03/01/32
|
|
1,137
|
1,159,592
|
|
6.00%, 01/15/33
|
|
664
|
663,627
|
|
6.38%, 05/31/33
|
|
1,011
|
1,005,610
|
|
6.25%, 01/31/34
|
|
115
|
116,269
|
|
6.75%, 01/31/34
|
|
788
|
798,327
|
|
6.13%, 07/31/34
|
|
691
|
679,628
|
|
|
|
|
18,908,766
|
|
Air Freight & Logistics(b) — 0.0%
|
|||
|
Rand Parent LLC, 8.50%, 02/15/30
|
|
127
|
130,368
|
|
Stonepeak Nile Parent LLC, 7.25%, 03/15/32
|
|
60
|
62,406
|
|
|
|
|
192,774
|
|
Automobile Components — 0.5%
|
|||
|
American Axle & Manufacturing, Inc.(b)
|
|
|
|
|
6.38%, 10/15/32
|
|
91
|
90,067
|
|
7.75%, 10/15/33
|
|
95
|
92,482
|
|
Aptiv Swiss Holdings Ltd., 5.40%, 03/15/49
|
|
465
|
426,175
|
|
Clarios Global LP/Clarios U.S. Finance Co.(b)
|
|
|
|
|
6.75%, 05/15/28
|
|
525
|
530,109
|
|
6.75%, 02/15/30
|
|
190
|
194,275
|
|
4.75%, 06/15/31
|
EUR
|
205
|
232,653
|
|
6.75%, 09/15/32
|
USD
|
409
|
412,272
|
|
Cyprium Corp./Cyprium Holdings Luxembourg SARL,
6.13%, 04/15/31(b)
|
|
118
|
116,327
|
|
Dana, Inc.
|
|
|
|
|
4.25%, 09/01/30
|
|
24
|
22,705
|
|
4.50%, 02/15/32
|
|
38
|
35,462
|
|
Goodyear Tire & Rubber Co., 6.63%, 07/15/30
|
|
60
|
58,673
|
|
IHO Verwaltungs GmbH, (7.00% Cash or 7.75% PIK),
7.00%, 11/15/31(e)(h)
|
EUR
|
100
|
120,845
|
|
Qnity Electronics, Inc.(b)
|
|
|
|
|
5.75%, 08/15/32
|
USD
|
166
|
166,198
|
|
6.25%, 08/15/33
|
|
127
|
128,414
|
|
Schaeffler AG, 4.25%, 04/01/28(e)
|
EUR
|
100
|
114,232
|
|
Tenneco, Inc., 8.00%, 11/17/28(b)
|
USD
|
183
|
182,349
|
|
ZF Europe Finance BV(e)
|
|
|
|
|
7.00%, 06/12/30
|
EUR
|
100
|
117,905
|
|
5.50%, 02/17/32
|
|
100
|
109,047
|
|
|
|
|
3,150,190
|
|
Automobiles — 1.0%
|
|||
|
Allison Transmission, Inc., 5.88%, 12/01/33(b)
|
USD
|
95
|
94,418
|
|
Asbury Automotive Group, Inc., 4.50%, 03/01/28
|
|
10
|
9,820
|
|
Carvana Co.(b)(h)
|
|
|
|
|
(11.00% Cash or 13.00% PIK), 9.00%, 06/01/30
|
|
325
|
338,191
|
|
(9.00% PIK), 9.00%, 06/01/31
|
|
939
|
1,015,055
|
|
Cougar JV Subsidiary LLC, 8.00%, 05/15/32(b)
|
|
108
|
111,678
|
|
Ford Motor Co., 4.75%, 01/15/43
|
|
2,000
|
1,510,752
|
|
General Motors Co., 6.25%, 10/02/43(g)
|
|
2,506
|
2,460,939
|
|
Security
|
|
Par
(000)
|
Value
|
|
Automobiles (continued)
|
|||
|
LCM Investments Holdings II LLC(b)
|
|
|
|
|
4.88%, 05/01/29
|
USD
|
28
|
$ 27,247
|
|
8.25%, 08/01/31
|
|
238
|
247,221
|
|
Lithia Motors, Inc., 5.50%, 10/01/30(b)
|
|
104
|
101,913
|
|
Nissan Motor Acceptance Co. LLC, 6.13%, 09/30/30(b)
|
|
268
|
257,559
|
|
Nissan Motor Co. Ltd.
|
|
|
|
|
5.25%, 07/17/29(e)
|
EUR
|
100
|
114,416
|
|
7.75%, 07/17/32(b)
|
USD
|
200
|
202,519
|
|
6.38%, 07/17/33(b)
|
EUR
|
100
|
115,000
|
|
8.13%, 07/17/35(b)
|
USD
|
362
|
372,440
|
|
RCI Banque SA, (5-year EURIBOR ICE Swap + 2.20%),
4.75%, 03/24/37(a)(e)
|
EUR
|
100
|
111,877
|
|
|
|
|
7,091,045
|
|
Banks — 1.0%
|
|||
|
Abanca Corp. Bancaria SA, (5-year EURIBOR ICE
Swap + 2.45%), 4.63%, 12/11/36(a)(e)
|
|
100
|
115,607
|
|
Al Rajhi Sukuk Ltd., (6 year USD CMT + 1.59%),
6.25%(a)(e)(i)
|
USD
|
200
|
195,758
|
|
Banco Mercantil del Norte SA, (5-year CMT + 4.07%),
8.38%(a)(b)(i)
|
|
200
|
206,400
|
|
Standard Chartered PLC, (5-year USD SOFR ICE Swap
+ 1.97%), 4.87%, 03/15/33(a)(b)
|
|
500
|
497,560
|
|
Walker & Dunlop, Inc., 6.63%, 04/01/33(b)
|
|
76
|
74,304
|
|
Wells Fargo & Co.(a)
|
|
|
|
|
(1-day SOFR + 1.50%), 5.15%, 04/23/31
|
|
2,000
|
2,034,172
|
|
(1-day SOFR + 1.78%), 5.50%, 01/23/35
|
|
1,290
|
1,313,154
|
|
(1-day SOFR + 2.02%), 5.39%, 04/24/34
|
|
1,124
|
1,140,833
|
|
(1-day SOFR + 2.53%), 3.07%, 04/30/41
|
|
2,250
|
1,689,194
|
|
|
|
|
7,266,982
|
|
Beverages — 0.6%
|
|||
|
Anheuser-Busch InBev Worldwide, Inc., 4.44%,
10/06/48(g)
|
|
4,600
|
3,856,824
|
|
Keurig Dr. Pepper, Inc., Series 31, 2.25%, 03/15/31
|
|
400
|
353,325
|
|
|
|
|
4,210,149
|
|
Biotechnology — 0.7%
|
|||
|
Amgen, Inc.
|
|
|
|
|
5.25%, 03/02/30
|
|
800
|
821,468
|
|
4.20%, 03/01/33
|
|
1,000
|
965,101
|
|
5.25%, 03/02/33
|
|
600
|
615,737
|
|
5.60%, 03/02/43
|
|
650
|
640,664
|
|
5.65%, 03/02/53
|
|
850
|
823,261
|
|
Baxalta, Inc., 5.25%, 06/23/45
|
|
500
|
465,402
|
|
BioMarin Pharmaceutical, Inc., 5.50%, 02/15/34(b)
|
|
201
|
197,896
|
|
Genmab AS/Genmab Finance LLC, 7.25%, 12/15/33(b)
|
|
261
|
273,197
|
|
|
|
|
4,802,726
|
|
Building Materials — 0.5%
|
|||
|
AmeriTex HoldCo Intermediate LLC, 7.63%, 08/15/33(b)
|
|
133
|
137,289
|
|
Builders FirstSource, Inc.(b)
|
|
|
|
|
6.38%, 03/01/34
|
|
99
|
97,734
|
|
6.75%, 05/15/35
|
|
91
|
90,913
|
|
EMRLD Borrower LP/Emerald Co-Issuer, Inc.
|
|
|
|
|
6.38%, 12/15/30(e)
|
EUR
|
100
|
117,651
|
|
6.63%, 12/15/30(b)
|
USD
|
592
|
602,099
|
|
6.75%, 07/15/31(b)
|
|
100
|
102,846
|
|
Jeld-Wen, Inc.(b)
|
|
|
|
|
4.88%, 12/15/27
|
|
130
|
88,144
|
|
7.00%, 09/01/32(g)
|
|
39
|
18,182
|
|
New Enterprise Stone & Lime Co., Inc.(b)
|
|
|
|
|
5.25%, 07/15/28
|
|
55
|
54,186
|
|
Security
|
|
Par
(000)
|
Value
|
|
Building Materials (continued)
|
|||
|
New Enterprise Stone & Lime Co., Inc.(b) (continued)
|
|
|
|
|
9.75%, 07/15/28
|
USD
|
89
|
$ 88,910
|
|
Quikrete Holdings, Inc.(b)
|
|
|
|
|
6.38%, 03/01/32
|
|
803
|
814,244
|
|
6.75%, 03/01/33
|
|
167
|
169,612
|
|
Smyrna Ready Mix Concrete LLC, 6.00%, 11/01/28(b)
|
|
34
|
33,744
|
|
Standard Building Solutions, Inc.(b)
|
|
|
|
|
6.50%, 08/15/32
|
|
180
|
180,093
|
|
6.25%, 08/01/33
|
|
303
|
299,593
|
|
5.88%, 03/15/34
|
|
167
|
161,020
|
|
Standard Industries, Inc.(b)
|
|
|
|
|
4.75%, 01/15/28
|
|
3
|
2,965
|
|
4.38%, 07/15/30
|
|
170
|
160,236
|
|
3.38%, 01/15/31
|
|
28
|
25,098
|
|
Wilsonart LLC, 11.00%, 08/15/32(b)
|
|
194
|
140,627
|
|
|
|
|
3,385,186
|
|
Building Products — 0.9%
|
|||
|
Home Depot, Inc., 5.88%, 12/16/36
|
|
1,660
|
1,767,140
|
|
Lowe’s Cos., Inc.
|
|
|
|
|
1.70%, 10/15/30
|
|
1,600
|
1,409,810
|
|
5.00%, 04/15/33(g)
|
|
1,000
|
1,005,210
|
|
3.70%, 04/15/46
|
|
1,000
|
736,542
|
|
QXO Building Products, Inc., 6.75%, 04/30/32(b)(g)
|
|
593
|
604,855
|
|
White Cap Supply Holdings LLC, 7.38%, 11/15/30(b)
|
|
1,007
|
976,783
|
|
|
|
|
6,500,340
|
|
Capital Markets — 0.7%
|
|||
|
Apollo Debt Solutions BDC
|
|
|
|
|
5.88%, 08/30/30
|
|
96
|
94,490
|
|
6.70%, 07/29/31
|
|
42
|
42,490
|
|
6.55%, 03/15/32
|
|
24
|
24,092
|
|
Bain Capital Specialty Finance, Inc., 5.95%, 03/15/30
|
|
40
|
38,726
|
|
Blue Owl Capital Corp., 6.20%, 07/15/30
|
|
135
|
133,049
|
|
FMR LLC, 4.95%, 02/01/33(b)
|
|
2,300
|
2,310,050
|
|
Focus Financial Partners LLC, 6.75%, 09/15/31(b)
|
|
130
|
129,109
|
|
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
|
|
|
|
|
5.25%, 05/15/27
|
|
392
|
384,124
|
|
9.75%, 01/15/29
|
|
110
|
108,147
|
|
4.38%, 02/01/29
|
|
94
|
80,216
|
|
10.00%, 11/15/29(b)
|
|
119
|
117,233
|
|
Jane Street Group/JSG Finance, Inc.(b)
|
|
|
|
|
6.13%, 11/01/32
|
|
41
|
40,544
|
|
6.75%, 05/01/33
|
|
146
|
148,127
|
|
MDGH GMTN RSC Ltd., 4.38%, 11/22/33(b)
|
|
200
|
189,102
|
|
Osaic Holdings, Inc.(b)
|
|
|
|
|
6.75%, 08/01/32
|
|
201
|
201,025
|
|
8.00%, 08/01/33
|
|
280
|
276,417
|
|
Raymond James Financial, Inc., 4.95%, 07/15/46
|
|
400
|
355,550
|
|
WOM Chile Holdco SpA, (5.00% PIK), 5.00%,
04/01/32(b)(h)(j)
|
|
152
|
137,617
|
|
|
|
|
4,810,108
|
|
Chemicals — 1.0%
|
|||
|
Advancion Sciences, Inc., (9.25% Cash or 10.00% PIK),
9.25%, 11/01/26(b)(h)
|
|
225
|
182,508
|
|
Celanese U.S. Holdings LLC
|
|
|
|
|
7.00%, 02/15/31
|
|
16
|
16,429
|
|
6.75%, 04/15/33(g)
|
|
95
|
97,466
|
|
7.38%, 02/15/34
|
|
128
|
131,139
|
|
Chemours Co.(b)
|
|
|
|
|
5.75%, 11/15/28
|
|
418
|
413,872
|
|
4.63%, 11/15/29
|
|
224
|
210,057
|
|
Security
|
|
Par
(000)
|
Value
|
|
Chemicals (continued)
|
|||
|
Chemours Co.(b) (continued)
|
|
|
|
|
7.88%, 03/15/34
|
USD
|
119
|
$ 118,965
|
|
Element Solutions, Inc., 3.88%, 09/01/28(b)
|
|
466
|
453,713
|
|
EQUATE Petrochemical Co. KSC, 4.25%, 11/03/26(e)
|
|
200
|
197,938
|
|
FMC Corp.
|
|
|
|
|
3.45%, 10/01/29
|
|
110
|
98,257
|
|
4.50%, 10/01/49
|
|
33
|
20,421
|
|
6.38%, 05/18/53
|
|
23
|
17,330
|
|
HB Fuller Co., 4.25%, 10/15/28
|
|
3
|
2,897
|
|
Herens Holdco SARL, 4.75%, 05/15/28(b)
|
|
200
|
168,080
|
|
Inversion Escrow Issuer LLC, 6.75%, 08/01/32(b)
|
|
352
|
335,218
|
|
Itelyum Regeneration SpA, 5.75%, 04/15/30(e)
|
EUR
|
100
|
114,012
|
|
Methanex U.S. Operations, Inc., 6.25%, 03/15/32(b)(g)
|
USD
|
117
|
119,699
|
|
OCP SA, 7.50%, 05/02/54(b)
|
|
200
|
209,663
|
|
Olympus Water U.S. Holding Corp.(b)
|
|
|
|
|
7.25%, 06/15/31
|
|
320
|
312,545
|
|
7.25%, 02/15/33
|
|
1,143
|
1,090,538
|
|
Perimeter Holdings LLC, 6.25%, 01/15/34(b)
|
|
316
|
309,917
|
|
Sasol Financing USA LLC, 6.50%, 09/27/28
|
|
200
|
201,814
|
|
Sherwin-Williams Co., 3.80%, 08/15/49
|
|
350
|
255,966
|
|
SK Invictus Intermediate II SARL, 5.00%, 10/30/29(b)
|
|
192
|
187,271
|
|
Solstice Advanced Materials, Inc., 5.63%, 09/30/33(b)
|
|
248
|
244,538
|
|
WR Grace Holdings LLC(b)
|
|
|
|
|
5.63%, 08/15/29(g)
|
|
945
|
869,135
|
|
7.38%, 03/01/31
|
|
92
|
92,237
|
|
6.63%, 08/15/32
|
|
225
|
219,230
|
|
7.00%, 08/01/33
|
|
291
|
282,612
|
|
|
|
|
6,973,467
|
|
Commercial Services & Supplies — 1.8%
|
|||
|
ADT Security Corp.(b)
|
|
|
|
|
4.88%, 07/15/32
|
|
25
|
23,352
|
|
5.88%, 10/15/33
|
|
272
|
263,435
|
|
Albion Financing 1 SARL/Aggreko Holdings, Inc.,
7.00%, 05/21/30(b)
|
|
452
|
461,961
|
|
Allied Universal Holdco LLC, 7.88%, 02/15/31(b)
|
|
1,800
|
1,856,187
|
|
Allied Universal Holdco LLC/Allied Universal Finance
Corp.(b)
|
|
|
|
|
6.00%, 06/01/29(g)
|
|
1,000
|
966,277
|
|
6.88%, 06/15/30
|
|
571
|
578,812
|
|
Allied Universal Holdco LLC/Allied Universal Finance
Corp./Atlas Luxco 4 SARL, 4.63%, 06/01/28(b)
|
|
329
|
321,438
|
|
Arena Luxembourg Finance SARL, (3-mo. EURIBOR +
2.50%), 4.52%, 05/01/30(a)(e)
|
EUR
|
100
|
115,250
|
|
BCP V Modular Services Finance II PLC, 4.75%,
11/30/28(e)
|
|
100
|
108,734
|
|
Belron U.K. Finance PLC, 5.75%, 10/15/29(b)
|
USD
|
218
|
219,377
|
|
Boels Topholding BV, 5.75%, 05/15/30(e)
|
EUR
|
100
|
116,130
|
|
Brink’s Co., 6.50%, 06/15/29(b)
|
USD
|
85
|
86,316
|
|
Clarivate Science Holdings Corp.(b)
|
|
|
|
|
3.88%, 07/01/28
|
|
215
|
202,899
|
|
4.88%, 07/01/29(g)
|
|
230
|
199,568
|
|
CompoSecure Holdings LLC, 5.63%, 02/01/33(b)
|
|
434
|
423,996
|
|
Deluxe Corp., 8.13%, 09/15/29(b)
|
|
70
|
72,666
|
|
FTAI Aviation Investors LLC(b)
|
|
|
|
|
5.50%, 05/01/28
|
|
9
|
8,997
|
|
7.88%, 12/01/30
|
|
652
|
680,815
|
|
7.00%, 05/01/31
|
|
164
|
168,121
|
|
7.00%, 06/15/32
|
|
253
|
259,354
|
|
5.88%, 04/15/33
|
|
103
|
100,774
|
|
Garda World Security Corp.(b)
|
|
|
|
|
7.75%, 02/15/28
|
|
108
|
109,865
|
|
Security
|
|
Par
(000)
|
Value
|
|
Commercial Services & Supplies (continued)
|
|||
|
Garda World Security Corp.(b) (continued)
|
|
|
|
|
6.00%, 06/01/29
|
USD
|
34
|
$ 32,362
|
|
8.25%, 08/01/32
|
|
268
|
265,195
|
|
8.38%, 11/15/32
|
|
1,194
|
1,194,811
|
|
Herc Holdings, Inc.(b)
|
|
|
|
|
7.00%, 06/15/30
|
|
257
|
263,520
|
|
5.75%, 03/15/31
|
|
89
|
87,653
|
|
7.25%, 06/15/33
|
|
125
|
128,093
|
|
6.00%, 03/15/34
|
|
92
|
88,941
|
|
RR Donnelley & Sons Co., 9.50%, 08/01/29(b)
|
|
370
|
374,515
|
|
Service Corp. International
|
|
|
|
|
3.38%, 08/15/30
|
|
5
|
4,613
|
|
4.00%, 05/15/31
|
|
20
|
18,643
|
|
5.75%, 10/15/32
|
|
377
|
376,275
|
|
Sotheby’s, 7.38%, 10/15/27(b)(g)
|
|
665
|
661,814
|
|
Trustees of Columbia University in the City of New York,
Series 2024, 4.36%, 10/01/35
|
|
1,000
|
967,992
|
|
United Rentals North America, Inc., 5.38%, 11/15/33(b)
|
|
323
|
314,079
|
|
Veritiv Operating Co., 10.50%, 11/30/30(b)
|
|
91
|
94,572
|
|
Wand NewCo 3, Inc., 7.63%, 01/30/32(b)
|
|
333
|
340,491
|
|
Williams Scotsman, Inc.(b)
|
|
|
|
|
6.63%, 06/15/29
|
|
19
|
19,214
|
|
6.63%, 04/15/30
|
|
107
|
108,689
|
|
7.38%, 10/01/31
|
|
211
|
216,355
|
|
|
|
|
12,902,151
|
|
Communications Equipment — 0.0%
|
|||
|
Viavi Solutions, Inc., 3.75%, 10/01/29(b)
|
|
26
|
24,394
|
|
Construction & Engineering(b) — 0.2%
|
|||
|
AECOM, 6.00%, 08/01/33
|
|
288
|
287,683
|
|
Arcosa, Inc.
|
|
|
|
|
4.38%, 04/15/29
|
|
85
|
82,003
|
|
6.88%, 08/15/32
|
|
15
|
15,370
|
|
Brand Industrial Services, Inc., 10.38%, 08/01/30
|
|
628
|
573,937
|
|
IHS Holding Ltd., 6.25%, 11/29/28
|
|
200
|
198,032
|
|
Weekley Homes LLC/Weekley Finance Corp., 6.75%,
01/15/34
|
|
100
|
95,775
|
|
|
|
|
1,252,800
|
|
Consumer Finance — 0.6%
|
|||
|
Block, Inc.
|
|
|
|
|
2.75%, 06/01/26
|
|
248
|
246,869
|
|
5.63%, 08/15/30(b)
|
|
204
|
202,873
|
|
6.50%, 05/15/32
|
|
89
|
89,813
|
|
6.00%, 08/15/33(b)
|
|
269
|
264,557
|
|
Capital One Financial Corp., (1-day SOFR + 2.60%),
5.82%, 02/01/34(a)
|
|
440
|
450,194
|
|
ION Platform Finance SARL, 6.50%, 09/30/30(e)
|
EUR
|
100
|
95,794
|
|
ION Platform Finance U.S., Inc., 7.88%, 09/30/32(b)
|
USD
|
408
|
315,803
|
|
Moody’s Corp., 2.75%, 08/19/41
|
|
350
|
246,663
|
|
Navient Corp.
|
|
|
|
|
9.38%, 07/25/30
|
|
6
|
5,849
|
|
7.88%, 06/15/32(g)
|
|
104
|
92,721
|
|
OneMain Finance Corp.
|
|
|
|
|
6.63%, 05/15/29
|
|
34
|
34,033
|
|
5.38%, 11/15/29
|
|
133
|
128,254
|
|
7.88%, 03/15/30
|
|
188
|
194,012
|
|
6.13%, 05/15/30
|
|
196
|
191,657
|
|
4.00%, 09/15/30
|
|
71
|
64,119
|
|
7.50%, 05/15/31
|
|
36
|
36,192
|
|
7.13%, 11/15/31
|
|
48
|
47,558
|
|
6.75%, 03/15/32
|
|
170
|
164,940
|
|
7.13%, 09/15/32
|
|
130
|
128,031
|
|
Security
|
|
Par
(000)
|
Value
|
|
Consumer Finance (continued)
|
|||
|
OneMain Finance Corp. (continued)
|
|
|
|
|
6.50%, 03/15/33
|
USD
|
213
|
$ 203,612
|
|
6.75%, 09/15/33
|
|
449
|
430,525
|
|
Shift4 Payments LLC/Shift4 Payments Finance Sub,
Inc., 5.50%, 05/15/33(e)
|
EUR
|
100
|
108,969
|
|
Shift4 Payments, Inc.(b)
|
|
|
|
|
6.75%, 08/15/32
|
USD
|
341
|
335,321
|
|
5.50%, 05/15/33
|
EUR
|
145
|
158,004
|
|
WEX, Inc., 6.50%, 03/15/33(b)
|
USD
|
263
|
257,627
|
|
|
|
|
4,493,990
|
|
Consumer Staples Distribution & Retail — 0.3%
|
|||
|
Albertsons Cos, Inc.(b)
|
|
|
|
|
5.50%, 03/31/31
|
|
97
|
95,901
|
|
6.25%, 03/15/33(g)
|
|
90
|
90,604
|
|
5.75%, 03/31/34
|
|
336
|
328,724
|
|
Albertsons Cos., Inc., 5.63%, 03/31/32(b)
|
|
82
|
80,730
|
|
B&M European Value Retail SA, 6.50%, 11/27/31(e)
|
GBP
|
100
|
125,046
|
|
Boots Group Finco LP(b)
|
|
|
|
|
5.38%, 08/31/32
|
EUR
|
215
|
247,246
|
|
7.38%, 08/31/32
|
GBP
|
100
|
131,450
|
|
KeHE Distributors LLC/KeHE Finance Corp./NextWave
Distribution, Inc., 9.00%, 02/15/29(b)
|
USD
|
86
|
89,530
|
|
Lion/Polaris Lux Midco SARL, (3-mo. EURIBOR +
3.63%), 5.75%, 07/01/29(a)(e)
|
EUR
|
100
|
115,348
|
|
Performance Food Group, Inc.(b)
|
|
|
|
|
4.25%, 08/01/29
|
USD
|
19
|
18,251
|
|
6.13%, 09/15/32
|
|
159
|
159,294
|
|
5.63%, 03/01/34
|
|
348
|
335,643
|
|
U.S. Foods, Inc., 7.25%, 01/15/32(b)
|
|
134
|
138,659
|
|
United Natural Foods, Inc., 6.75%, 10/15/28(b)
|
|
104
|
104,082
|
|
|
|
|
2,060,508
|
|
Containers & Packaging — 0.9%
|
|||
|
Ardagh Group SA
|
|
|
|
|
9.50%, 12/01/30(b)
|
|
453
|
475,038
|
|
(4.50% Cash + 7.50% PIK), 12.00%, 12/01/30(e)(h)
|
EUR
|
200
|
189,802
|
|
(5.50% Cash + 6.50% PIK), 12.00%, 12/01/30(b)(h)
|
USD
|
202
|
169,751
|
|
Ardagh Metal Packaging Finance USA LLC/Ardagh
Metal Packaging Finance PLC(b)
|
|
|
|
|
4.00%, 09/01/29(g)
|
|
1,066
|
976,138
|
|
6.25%, 01/30/31
|
|
200
|
198,282
|
|
Ball Corp.
|
|
|
|
|
4.25%, 07/01/32
|
EUR
|
100
|
114,231
|
|
5.50%, 09/15/33(g)
|
USD
|
89
|
89,051
|
|
Canpack SA/Canpack U.S. LLC, 2.38%, 11/01/27(e)
|
EUR
|
100
|
112,056
|
|
Clydesdale Acquisition Holdings, Inc.(b)
|
|
|
|
|
6.63%, 04/15/29
|
USD
|
148
|
145,345
|
|
6.88%, 01/15/30
|
|
32
|
31,103
|
|
6.75%, 04/15/32
|
|
352
|
333,042
|
|
Crown Americas LLC, 5.88%, 06/01/33
|
|
288
|
287,867
|
|
International Paper Co., 6.00%, 11/15/41(g)
|
|
870
|
869,385
|
|
LABL, Inc.(b)
|
|
|
|
|
5.88%, 11/01/28(k)
|
|
32
|
15,360
|
|
9.50%, 11/01/28
|
|
417
|
200,160
|
|
8.63%, 10/01/31(k)
|
|
132
|
63,360
|
|
Mauser Packaging Solutions Holding Co.(b)
|
|
|
|
|
7.88%, 04/15/30(g)
|
|
1,643
|
1,643,000
|
|
9.25%, 04/15/30
|
|
148
|
137,517
|
|
Owens-Brockway Glass Container, Inc., 6.63%,
05/13/27(b)
|
|
27
|
27,056
|
|
Sealed Air Corp.(b)
|
|
|
|
|
4.00%, 12/01/27
|
|
38
|
37,905
|
|
Security
|
|
Par
(000)
|
Value
|
|
Containers & Packaging (continued)
|
|||
|
Sealed Air Corp.(b) (continued)
|
|
|
|
|
5.00%, 04/15/29
|
USD
|
38
|
$ 38,285
|
|
Sealed Air Corp./Sealed Air Corp. U.S., 7.25%,
02/15/31(b)
|
|
11
|
11,535
|
|
Silgan Holdings, Inc., 4.25%, 02/15/31(b)
|
EUR
|
180
|
201,363
|
|
Trivium Packaging Finance BV, 6.63%, 07/15/30(e)
|
|
100
|
116,153
|
|
|
|
|
6,482,785
|
|
Distributors(b) — 0.0%
|
|||
|
Gates Corp., 6.88%, 07/01/29
|
USD
|
90
|
92,343
|
|
Resideo Funding, Inc.
|
|
|
|
|
4.00%, 09/01/29
|
|
42
|
39,692
|
|
6.50%, 07/15/32(g)
|
|
77
|
75,866
|
|
|
|
|
207,901
|
|
Diversified REITs — 1.3%
|
|||
|
American Tower Corp., 2.90%, 01/15/30
|
|
2,500
|
2,346,445
|
|
Crown Castle, Inc.
|
|
|
|
|
4.90%, 09/01/29
|
|
750
|
754,166
|
|
2.10%, 04/01/31
|
|
1,000
|
871,277
|
|
2.90%, 04/01/41
|
|
350
|
247,323
|
|
Digital Realty Trust LP, 1.88%, 11/15/29(b)(j)
|
|
45
|
47,638
|
|
Equinix, Inc.
|
|
|
|
|
2.50%, 05/15/31
|
|
500
|
446,284
|
|
2.95%, 09/15/51
|
|
1,200
|
730,272
|
|
ERP Operating LP, 4.50%, 07/01/44(g)
|
|
1,155
|
1,002,701
|
|
Iron Mountain Information Management Services, Inc.,
5.00%, 07/15/32(b)
|
|
54
|
50,979
|
|
Iron Mountain, Inc.
|
|
|
|
|
5.25%, 07/15/30(b)
|
|
13
|
12,630
|
|
5.63%, 07/15/32(b)
|
|
62
|
60,188
|
|
6.25%, 01/15/33(b)
|
|
8
|
7,974
|
|
4.75%, 01/15/34(b)
|
EUR
|
300
|
322,661
|
|
4.75%, 01/15/34(e)
|
|
100
|
107,554
|
|
Millrose Properties, Inc.(b)
|
|
|
|
|
6.38%, 08/01/30
|
USD
|
315
|
314,902
|
|
6.25%, 09/15/32
|
|
205
|
201,230
|
|
Prologis LP, 4.63%, 01/15/33(g)
|
|
1,000
|
989,381
|
|
SBA Communications Corp., 3.13%, 02/01/29(g)
|
|
166
|
157,297
|
|
Trust 2401, 7.70%, 01/23/32(b)
|
|
200
|
213,662
|
|
Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital
LLC, 6.00%, 01/15/30(b)
|
|
37
|
34,801
|
|
|
|
|
8,919,365
|
|
Diversified Telecommunication Services — 3.6%
|
|||
|
APLD ComputeCo 2 LLC, 6.75%, 03/15/31(b)
|
|
464
|
460,622
|
|
APLD ComputeCo LLC, 9.25%, 12/15/30(b)
|
|
192
|
197,822
|
|
AT&T, Inc.
|
|
|
|
|
5.40%, 02/15/34
|
|
560
|
572,596
|
|
6.00%, 08/15/40
|
|
520
|
534,166
|
|
6.38%, 03/01/41
|
|
1,200
|
1,271,296
|
|
5.45%, 03/01/47(g)
|
|
1,500
|
1,390,744
|
|
3.50%, 09/15/53
|
|
500
|
327,868
|
|
Black Pearl Compute LLC, 6.13%, 02/15/31(b)
|
|
491
|
499,738
|
|
Cipher Compute LLC, 7.13%, 11/15/30(b)
|
|
353
|
365,718
|
|
Connect Finco SARL/Connect U.S. Finco LLC, 9.00%,
09/15/29(b)
|
|
220
|
231,119
|
|
Corning, Inc., 4.38%, 11/15/57
|
|
2,000
|
1,574,973
|
|
EchoStar Corp.
|
|
|
|
|
(6.75% Cash or 6.75% PIK), 6.75%, 11/30/30(h)
|
|
1,279
|
1,291,315
|
|
10.75%, 11/30/29
|
|
704
|
759,960
|
|
eircom Finance DAC, 5.00%, 04/30/31(e)
|
EUR
|
100
|
114,816
|
|
Fibercop SpA
|
|
|
|
|
4.75%, 06/30/30(e)
|
|
100
|
114,639
|
|
Security
|
|
Par
(000)
|
Value
|
|
Diversified Telecommunication Services (continued)
|
|||
|
Fibercop SpA (continued)
|
|
|
|
|
5.13%, 06/30/32(e)
|
EUR
|
100
|
$ 114,430
|
|
6.00%, 09/30/34(b)
|
USD
|
200
|
190,257
|
|
Flash Compute LLC, 7.25%, 12/31/30(b)
|
|
575
|
578,905
|
|
Frontier Communications Holdings LLC
|
|
|
|
|
5.00%, 05/01/28(b)
|
|
293
|
292,954
|
|
6.75%, 05/01/29(b)
|
|
59
|
59,074
|
|
5.88%, 11/01/29
|
|
94
|
94,570
|
|
6.00%, 01/15/30(b)
|
|
130
|
130,778
|
|
8.75%, 05/15/30(b)
|
|
842
|
863,964
|
|
Kaixo Bondco Telecom SA, 5.13%, 09/30/29(e)
|
EUR
|
100
|
115,875
|
|
Level 3 Financing, Inc.(b)
|
|
|
|
|
3.63%, 01/15/29
|
USD
|
33
|
30,937
|
|
6.88%, 06/30/33
|
|
1,001
|
1,019,256
|
|
7.00%, 03/31/34
|
|
1,107
|
1,133,110
|
|
8.50%, 01/15/36
|
|
1,078
|
1,124,798
|
|
Lorca Telecom Bondco SA, 5.75%, 04/30/29(e)
|
EUR
|
100
|
118,655
|
|
Sable International Finance Ltd., 7.13%, 10/15/32(b)
|
USD
|
260
|
255,868
|
|
SoftBank Group Corp., 2.88%, 01/06/27(e)
|
EUR
|
100
|
113,920
|
|
SV RNO Property Owner 1 LLC, 5.88%, 03/01/31(b)
|
USD
|
1,306
|
1,290,971
|
|
Telecom Italia Capital SA, 7.72%, 06/04/38
|
|
201
|
223,851
|
|
Uniti Group LP/Uniti Group Finance 2019, Inc./CSL
Capital LLC(b)
|
|
|
|
|
6.50%, 02/15/29
|
|
51
|
49,533
|
|
Series Feb, 8.63%, 06/15/32
|
|
463
|
471,559
|
|
Verizon Communications, Inc.
|
|
|
|
|
3.85%, 11/01/42(g)
|
|
5,000
|
3,984,800
|
|
5.75%, 11/30/45
|
|
1,460
|
1,421,749
|
|
Windstream Services LLC, 7.50%, 10/15/33(b)
|
|
235
|
244,318
|
|
Windstream Services LLC/Windstream Escrow Finance
Corp., 8.25%, 10/01/31(b)
|
|
723
|
755,648
|
|
WULF Compute LLC, 7.75%, 10/15/30(b)
|
|
564
|
595,967
|
|
Zayo Group Holdings, Inc.(b)(h)
|
|
|
|
|
(5.75% Cash and 0.50% PIK), 9.25%, 03/09/30
|
|
246
|
244,690
|
|
(7.13% Cash and 1.88% PIK), 13.75%, 09/09/30
|
|
250
|
233,560
|
|
|
|
|
25,461,389
|
|
Electric Utilities — 4.9%
|
|||
|
AES Andes SA, (5-year CMT + 3.84%), 8.15%,
06/10/55(a)(b)
|
|
200
|
209,650
|
|
Alpha Generation LLC, 6.75%, 10/15/32(b)(g)
|
|
181
|
183,648
|
|
American Electric Power Co., Inc., 5.63%, 03/01/33(g)
|
|
3,000
|
3,099,970
|
|
Baltimore Gas and Electric Co.
|
|
|
|
|
3.50%, 08/15/46
|
|
800
|
577,476
|
|
3.75%, 08/15/47
|
|
500
|
373,581
|
|
California Buyer Ltd./Atlantica Sustainable Infrastructure
PLC, 6.38%, 02/15/32(b)
|
|
150
|
146,561
|
|
CenterPoint Energy Houston Electric LLC, Series AI,
4.45%, 10/01/32
|
|
750
|
739,043
|
|
Cleveland Electric Illuminating Co., 5.95%, 12/15/36
|
|
434
|
448,627
|
|
Constellation Energy Generation LLC, 5.00%,
02/01/31(b)
|
|
30
|
30,081
|
|
ContourGlobal Power Holdings SA, 6.75%, 02/28/30(b)
|
|
200
|
202,248
|
|
DTE Electric Co., 5.85%, 05/15/55
|
|
600
|
603,945
|
|
Duke Energy Carolinas LLC
|
|
|
|
|
6.10%, 06/01/37
|
|
640
|
675,767
|
|
3.70%, 12/01/47
|
|
450
|
333,751
|
|
Duke Energy Florida LLC, 5.65%, 04/01/40
|
|
770
|
782,642
|
|
E.ON International Finance BV, 6.65%, 04/30/38(b)
|
|
2,000
|
2,187,592
|
|
Electricite de France SA, 5.60%, 01/27/40(b)
|
|
2,800
|
2,765,156
|
|
Eversource Energy, 2.55%, 03/15/31
|
|
350
|
315,453
|
|
FirstEnergy Corp., Series C, 3.40%, 03/01/50
|
|
2,240
|
1,490,267
|
|
Security
|
|
Par
(000)
|
Value
|
|
Electric Utilities (continued)
|
|||
|
Minejesa Capital BV, 5.63%, 08/10/37(b)
|
USD
|
200
|
$ 191,460
|
|
Mong Duong Finance Holdings BV, 5.13%, 05/07/29
|
|
334
|
327,986
|
|
Ohio Power Co., 4.00%, 06/01/49
|
|
800
|
597,298
|
|
Oncor Electric Delivery Co. LLC
|
|
|
|
|
4.15%, 06/01/32
|
|
1,000
|
969,666
|
|
4.55%, 09/15/32
|
|
1,000
|
987,369
|
|
Pacific Gas and Electric Co.
|
|
|
|
|
4.95%, 07/01/50(g)
|
|
2,510
|
2,079,224
|
|
6.75%, 01/15/53
|
|
900
|
933,828
|
|
San Diego Gas & Electric Co.
|
|
|
|
|
4.95%, 08/15/28
|
|
1,565
|
1,589,785
|
|
Series VVV, 1.70%, 10/01/30
|
|
750
|
663,483
|
|
SCC Power PLC, (4.00% Cash or 4.00% PIK), 4.00%,
05/17/32(b)(h)
|
|
140
|
33,657
|
|
Southern California Edison Co., Series 2005-E, 5.35%,
07/15/35
|
|
1,300
|
1,284,267
|
|
Talen Energy Supply LLC, 8.63%, 06/01/30(b)
|
|
37
|
38,816
|
|
TransAlta Corp., 5.88%, 02/01/34
|
|
126
|
125,152
|
|
Virginia Electric and Power Co., 6.35%, 11/30/37(g)
|
|
3,920
|
4,220,162
|
|
Vistra Operations Co. LLC(b)
|
|
|
|
|
7.75%, 10/15/31
|
|
76
|
79,609
|
|
6.88%, 04/15/32
|
|
220
|
227,688
|
|
5.35%, 01/31/36
|
|
3,000
|
2,934,580
|
|
VoltaGrid LLC, 7.38%, 11/01/30(b)
|
|
806
|
832,444
|
|
XPLR Infrastructure Operating Partners LP(b)
|
|
|
|
|
8.38%, 01/15/31(g)
|
|
387
|
407,395
|
|
8.63%, 03/15/33
|
|
62
|
65,498
|
|
7.75%, 04/15/34
|
|
427
|
440,985
|
|
|
|
|
34,195,810
|
|
Electronic Equipment, Instruments & Components(b) — 0.2%
|
|||
|
Coherent Corp., 5.00%, 12/15/29(g)
|
|
121
|
118,680
|
|
Sensata Technologies, Inc., 3.75%, 02/15/31
|
|
529
|
490,658
|
|
WESCO Distribution, Inc.
|
|
|
|
|
5.25%, 04/15/31
|
|
115
|
114,314
|
|
6.63%, 03/15/32
|
|
89
|
91,094
|
|
6.38%, 03/15/33
|
|
50
|
50,938
|
|
5.50%, 04/15/34
|
|
183
|
180,227
|
|
Zebra Technologies Corp., 6.50%, 06/01/32
|
|
77
|
77,525
|
|
|
|
|
1,123,436
|
|
Energy Equipment & Services — 0.4%
|
|||
|
Archrock Partners LP/Archrock Partners Finance Corp.,
6.63%, 09/01/32(b)
|
|
157
|
160,086
|
|
Archrock Services LP/Archrock Partners Finance Corp.,
6.00%, 02/01/34(b)
|
|
175
|
173,261
|
|
Enerflex, Inc., 6.88%, 01/15/31(b)
|
|
23
|
23,484
|
|
Halliburton Co., 4.75%, 08/01/43
|
|
500
|
437,044
|
|
Kodiak Gas Services LLC(b)
|
|
|
|
|
7.25%, 02/15/29
|
|
385
|
398,881
|
|
5.88%, 04/01/31
|
|
294
|
295,456
|
|
6.50%, 10/01/33
|
|
191
|
193,063
|
|
6.75%, 10/01/35(g)
|
|
178
|
180,832
|
|
Oceaneering International, Inc., 6.00%, 02/01/28
|
|
45
|
45,183
|
|
OEG Finance PLC, 7.25%, 09/27/29(e)
|
EUR
|
100
|
119,051
|
|
Star Holding LLC, 8.75%, 08/01/31(b)
|
USD
|
138
|
140,006
|
|
Tidewater, Inc., 9.13%, 07/15/30(b)
|
|
109
|
116,121
|
|
USA Compression Partners LP/USA Compression
Finance Corp.(b)
|
|
|
|
|
7.13%, 03/15/29
|
|
104
|
106,410
|
|
Security
|
|
Par
(000)
|
Value
|
|
Energy Equipment & Services (continued)
|
|||
|
USA Compression Partners LP/USA Compression
Finance Corp.(b) (continued)
|
|
|
|
|
6.25%, 10/01/33
|
USD
|
334
|
$ 332,950
|
|
Weatherford International Ltd., 6.75%, 10/15/33(b)
|
|
308
|
314,705
|
|
|
|
|
3,036,533
|
|
Entertainment — 0.6%
|
|||
|
Boyne USA, Inc., 4.75%, 05/15/29(b)
|
|
17
|
16,490
|
|
Brightstar Lottery PLC/Brightstar Global Solutions Corp.,
5.75%, 01/15/33(b)
|
|
200
|
194,415
|
|
Caesars Entertainment, Inc.(b)
|
|
|
|
|
4.63%, 10/15/29(g)
|
|
166
|
159,675
|
|
7.00%, 02/15/30
|
|
359
|
363,434
|
|
6.50%, 02/15/32
|
|
152
|
150,230
|
|
Churchill Downs, Inc.(b)
|
|
|
|
|
4.75%, 01/15/28
|
|
35
|
34,528
|
|
5.75%, 04/01/30
|
|
91
|
89,996
|
|
6.75%, 05/01/31
|
|
223
|
227,193
|
|
Cinemark USA, Inc., 7.00%, 08/01/32(b)
|
|
41
|
42,127
|
|
Discovery Global Holdings, Inc.
|
|
|
|
|
4.28%, 03/15/32
|
|
240
|
212,400
|
|
5.05%, 03/15/42
|
|
708
|
466,434
|
|
Great Canadian Gaming Corp./Raptor LLC, 8.75%,
11/15/29(b)
|
|
174
|
169,756
|
|
Light & Wonder International, Inc.(b)
|
|
|
|
|
7.25%, 11/15/29
|
|
96
|
97,862
|
|
7.50%, 09/01/31(g)
|
|
63
|
64,657
|
|
6.25%, 10/01/33
|
|
80
|
78,375
|
|
Live Nation Entertainment, Inc., 4.75%, 10/15/27(b)
|
|
10
|
9,938
|
|
Merlin Entertainments Group U.S. Holdings, Inc., 7.38%,
02/15/31(b)
|
|
200
|
166,914
|
|
Mohegan Tribal Gaming Authority/MS Digital
Entertainment Holdings LLC, 8.25%, 04/15/30(b)
|
|
133
|
136,156
|
|
Premier Entertainment Sub LLC/Premier Entertainment
Finance Corp.(b)
|
|
|
|
|
5.63%, 09/01/29
|
|
63
|
38,430
|
|
5.88%, 09/01/31
|
|
107
|
58,850
|
|
Rivers Enterprise Borrower LLC, 6.25%, 10/15/30(b)
|
|
84
|
83,788
|
|
Rivers Enterprise Borrower LLC/Rivers Enterprise
Finance Corp., 6.63%, 02/01/33(b)
|
|
88
|
87,338
|
|
Scientific Games Holdings LP/Scientific Games
U.S. FinCo, Inc., 6.63%, 03/01/30(b)
|
|
157
|
135,063
|
|
Six Flags Entertainment Corp/Canada’s Wonderland
Co/Millennium Operations LLC, 8.63%, 01/15/32(b)
|
|
65
|
65,105
|
|
Starz Capital Holdings 1, Inc., 6.00%, 04/15/30(b)
|
|
155
|
142,213
|
|
Vail Resorts, Inc.(b)
|
|
|
|
|
5.63%, 07/15/30
|
|
113
|
112,065
|
|
6.50%, 05/15/32
|
|
172
|
173,938
|
|
Voyager Parent LLC, 9.25%, 07/01/32(b)
|
|
229
|
237,751
|
|
Wynn Resorts Finance LLC/Wynn Resorts Capital
Corp.(b)
|
|
|
|
|
5.13%, 10/01/29
|
|
58
|
57,250
|
|
7.13%, 02/15/31(g)
|
|
112
|
117,403
|
|
6.25%, 03/15/33
|
|
242
|
239,483
|
|
|
|
|
4,229,257
|
|
Environmental, Maintenance & Security Service — 0.4%
|
|||
|
Biffa Group Holdings Ltd., 5.25%, 06/15/31(e)
|
EUR
|
100
|
111,815
|
|
Clean Harbors, Inc., 6.38%, 02/01/31(b)
|
USD
|
6
|
6,093
|
|
GFL Environmental Holdings U.S., Inc., 5.50%,
02/01/34(b)
|
|
329
|
322,682
|
|
GFL Environmental, Inc.(b)
|
|
|
|
|
4.00%, 08/01/28
|
|
269
|
261,501
|
|
Security
|
|
Par
(000)
|
Value
|
|
Environmental, Maintenance & Security Service (continued)
|
|||
|
GFL Environmental, Inc.(b) (continued)
|
|
|
|
|
4.75%, 06/15/29
|
USD
|
63
|
$ 61,813
|
|
6.75%, 01/15/31
|
|
70
|
72,438
|
|
Luna 15 SARL(h)
|
|
|
|
|
(10.50% PIK), 10.50%, 07/01/32(b)
|
EUR
|
135
|
165,402
|
|
(10.50% PIK), 10.50%, 07/01/32(e)
|
|
100
|
122,520
|
|
Madison IAQ LLC(b)
|
|
|
|
|
4.13%, 06/30/28
|
USD
|
172
|
167,974
|
|
5.88%, 06/30/29(g)
|
|
351
|
344,212
|
|
Paprec Holding SA, 4.13%, 07/15/30(e)
|
EUR
|
100
|
113,348
|
|
Reworld Holding Corp., 4.88%, 12/01/29(b)
|
USD
|
92
|
86,246
|
|
Waste Management, Inc., 2.95%, 06/01/41
|
|
350
|
261,053
|
|
Waste Pro USA, Inc., 7.00%, 02/01/33(b)
|
|
603
|
609,784
|
|
|
|
|
2,706,881
|
|
Financial Services — 8.7%
|
|||
|
Ally Financial, Inc., Series B, (5-year CMT + 3.87%),
4.70%(a)(i)
|
|
2,500
|
2,476,665
|
|
Azorra Finance Ltd.(b)
|
|
|
|
|
7.75%, 04/15/30
|
|
92
|
94,826
|
|
7.25%, 01/15/31
|
|
145
|
146,405
|
|
6.25%, 02/15/34
|
|
68
|
63,201
|
|
Bank of America Corp.(a)
|
|
|
|
|
(1-day SOFR + 1.00%), 5.16%, 01/24/31
|
|
500
|
509,526
|
|
(1-day SOFR + 1.64%), 5.46%, 05/09/36
|
|
2,000
|
2,039,886
|
|
(3-mo. CME Term SOFR + 1.57%), 4.27%,
07/23/29(g)
|
|
4,000
|
3,983,695
|
|
Barclays PLC, (1-year CMT + 1.05%), 2.28%,
11/24/27(a)(g)
|
|
3,000
|
2,954,682
|
|
Citigroup, Inc.(a)
|
|
|
|
|
(1-day SOFR + 1.46%), 4.95%, 05/07/31
|
|
2,000
|
2,012,963
|
|
(1-day SOFR + 1.49%), 5.17%, 09/11/36(g)
|
|
3,000
|
2,973,877
|
|
(1-day SOFR + 1.94%), 3.79%, 03/17/33
|
|
2,000
|
1,876,108
|
|
(1-day SOFR + 2.34%), 6.27%, 11/17/33
|
|
1,567
|
1,674,792
|
|
CrossCountry Intermediate HoldCo LLC(b)
|
|
|
|
|
6.50%, 10/01/30
|
|
47
|
44,798
|
|
6.75%, 12/01/32
|
|
30
|
28,229
|
|
Deutsche Bank AG, (1-day SOFR + 3.18%), 6.72%,
01/18/29(a)
|
|
850
|
880,639
|
|
Freedom Mortgage Holdings LLC(b)
|
|
|
|
|
6.88%, 05/01/31
|
|
10
|
9,349
|
|
9.13%, 05/15/31
|
|
106
|
107,749
|
|
8.38%, 04/01/32
|
|
15
|
14,755
|
|
GGAM Finance Ltd.(b)
|
|
|
|
|
8.00%, 06/15/28
|
|
113
|
117,278
|
|
6.88%, 04/15/29
|
|
86
|
87,913
|
|
5.88%, 03/15/30
|
|
12
|
11,955
|
|
Global Aircraft Leasing Co. Ltd., 8.75%, 09/01/27(b)
|
|
186
|
188,734
|
|
Goldman Sachs Group, Inc.(a)
|
|
|
|
|
(1-day SOFR + 1.19%), 5.07%, 01/21/37
|
|
3,000
|
2,933,017
|
|
(1-day SOFR + 1.55%), 5.33%, 07/23/35
|
|
2,000
|
2,006,773
|
|
(1-day SOFR + 1.58%), 5.22%, 04/23/31
|
|
2,000
|
2,033,730
|
|
(3-mo. CME Term SOFR + 1.56%), 4.22%,
05/01/29(g)
|
|
4,000
|
3,977,430
|
|
HSBC Holdings PLC, 6.10%, 01/14/42
|
|
610
|
646,184
|
|
JPMorgan Chase & Co.(a)
|
|
|
|
|
(1-day SOFR + 1.13%), 5.00%, 07/22/30
|
|
3,000
|
3,042,591
|
|
(1-day SOFR + 1.18%), 2.55%, 11/08/32
|
|
1,000
|
888,913
|
|
(1-day SOFR + 1.44%), 5.10%, 04/22/31
|
|
3,000
|
3,054,471
|
|
(1-day SOFR + 1.62%), 5.34%, 01/23/35
|
|
540
|
548,288
|
|
(1-day SOFR + 2.08%), 4.91%, 07/25/33
|
|
1,381
|
1,381,953
|
|
(3-mo. CME Term SOFR + 1.42%), 3.70%, 05/06/30
|
|
1,000
|
975,230
|
|
Security
|
|
Par
(000)
|
Value
|
|
Financial Services (continued)
|
|||
|
JPMorgan Chase & Co.(a) (continued)
|
|
|
|
|
(3-mo. CME Term SOFR + 2.46%), 3.11%, 04/22/41
|
USD
|
800
|
$ 610,067
|
|
Midcap Financial Issuer Trust(b)
|
|
|
|
|
6.50%, 05/01/28
|
|
200
|
194,077
|
|
5.63%, 01/15/30
|
|
200
|
186,372
|
|
Morgan Stanley(a)
|
|
|
|
|
(1-day SOFR + 1.26%), 5.66%, 04/18/30(g)
|
|
3,000
|
3,086,164
|
|
(1-day SOFR + 1.51%), 5.19%, 04/17/31
|
|
3,000
|
3,044,679
|
|
(1-day SOFR + 1.73%), 5.12%, 02/01/29(g)
|
|
3,000
|
3,032,809
|
|
(1-day SOFR + 1.73%), 5.47%, 01/18/35
|
|
600
|
609,915
|
|
(1-day SOFR + 1.88%), 5.42%, 07/21/34
|
|
735
|
745,775
|
|
NatWest Group PLC, (1-year CMT + 2.27%), 5.52%,
09/30/28(a)
|
|
1,000
|
1,014,656
|
|
PennyMac Financial Services, Inc.(b)
|
|
|
|
|
7.88%, 12/15/29(g)
|
|
139
|
142,192
|
|
7.13%, 11/15/30
|
|
72
|
71,552
|
|
6.88%, 05/15/32
|
|
217
|
209,403
|
|
6.75%, 02/15/34
|
|
84
|
78,610
|
|
Phoenix Aviation Capital Ltd., 9.25%, 07/15/30(b)
|
|
430
|
432,705
|
|
PRA Group Europe Holding II SARL, 6.25%, 09/30/32(e)
|
EUR
|
100
|
109,320
|
|
Rocket Cos., Inc.(b)
|
|
|
|
|
6.50%, 08/01/29
|
USD
|
174
|
175,958
|
|
6.13%, 08/01/30
|
|
639
|
644,896
|
|
7.13%, 02/01/32(g)
|
|
472
|
486,506
|
|
6.38%, 08/01/33
|
|
617
|
623,629
|
|
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer,
Inc.(b)
|
|
|
|
|
2.88%, 10/15/26(g)
|
|
200
|
197,837
|
|
3.88%, 03/01/31
|
|
16
|
14,764
|
|
4.00%, 10/15/33
|
|
19
|
17,031
|
|
UBS AG, 5.00%, 07/09/27
|
|
900
|
907,917
|
|
UWM Holdings LLC(b)
|
|
|
|
|
6.63%, 02/01/30
|
|
117
|
110,351
|
|
6.25%, 03/15/31
|
|
161
|
146,620
|
|
|
|
|
60,680,410
|
|
Food Products — 0.6%
|
|||
|
Aramark Services, Inc., 5.00%, 02/01/28(b)
|
|
122
|
121,280
|
|
B&G Foods, Inc., 8.00%, 09/15/28(b)
|
|
48
|
47,266
|
|
Chobani Holdco II LLC, (8.75% in Cash or 9.50% in
PIK), 8.75%, 10/01/29(b)(h)
|
|
549
|
584,050
|
|
Chobani LLC/Chobani Finance Corp., Inc.(b)
|
|
|
|
|
4.63%, 11/15/28
|
|
345
|
339,144
|
|
7.63%, 07/01/29
|
|
882
|
901,278
|
|
Darling Global Finance BV
|
|
|
|
|
4.50%, 07/15/32(e)
|
EUR
|
100
|
115,014
|
|
4.50%, 07/15/32(b)
|
|
100
|
115,014
|
|
Darling Ingredients, Inc., 6.00%, 06/15/30(b)(g)
|
USD
|
9
|
9,063
|
|
Elior Group SA, 5.63%, 03/15/30(e)
|
EUR
|
100
|
116,660
|
|
Fiesta Purchaser, Inc.(b)
|
|
|
|
|
7.88%, 03/01/31
|
USD
|
15
|
15,271
|
|
9.63%, 09/15/32
|
|
48
|
48,887
|
|
Froneri Lux FinCo SARL, 4.75%, 08/01/32(e)
|
EUR
|
100
|
109,185
|
|
Kraft Heinz Foods Co.
|
|
|
|
|
5.00%, 06/04/42
|
USD
|
500
|
439,682
|
|
4.38%, 06/01/46
|
|
200
|
156,368
|
|
Lamb Weston Holdings, Inc.(b)
|
|
|
|
|
4.13%, 01/31/30
|
|
90
|
85,684
|
|
4.38%, 01/31/32
|
|
50
|
46,448
|
|
Post Holdings, Inc.(b)
|
|
|
|
|
4.63%, 04/15/30
|
|
67
|
64,320
|
|
4.50%, 09/15/31
|
|
9
|
8,368
|
|
Security
|
|
Par
(000)
|
Value
|
|
Food Products (continued)
|
|||
|
Post Holdings, Inc.(b) (continued)
|
|
|
|
|
6.25%, 02/15/32
|
USD
|
64
|
$ 64,662
|
|
6.38%, 03/01/33
|
|
62
|
61,079
|
|
6.25%, 10/15/34
|
|
207
|
202,696
|
|
6.50%, 03/15/36
|
|
288
|
282,044
|
|
|
|
|
3,933,463
|
|
Ground Transportation — 1.1%
|
|||
|
Burlington Northern Santa Fe LLC, 5.05%, 03/01/41
|
|
1,890
|
1,815,229
|
|
Genesee & Wyoming, Inc., 6.25%, 04/15/32(b)
|
|
110
|
111,314
|
|
Lima Metro Line 2 Finance Ltd., 5.88%, 07/05/34(b)(g)
|
|
1,864
|
1,900,346
|
|
Norfolk Southern Corp.
|
|
|
|
|
5.05%, 08/01/30
|
|
1,800
|
1,838,938
|
|
4.55%, 06/01/53
|
|
1,000
|
820,057
|
|
Union Pacific Corp.
|
|
|
|
|
3.38%, 02/14/42
|
|
350
|
270,961
|
|
3.55%, 05/20/61
|
|
800
|
526,682
|
|
Watco Cos. LLC/Watco Finance Corp., 7.13%,
08/01/32(b)
|
|
124
|
127,350
|
|
|
|
|
7,410,877
|
|
Health Care Equipment & Supplies — 0.5%
|
|||
|
Avantor Funding, Inc.(b)
|
|
|
|
|
4.63%, 07/15/28
|
|
85
|
82,961
|
|
3.88%, 11/01/29
|
|
17
|
15,949
|
|
Bausch & Lomb Corp., 8.38%, 10/01/28(b)
|
|
958
|
989,135
|
|
Hologic, Inc., 3.25%, 02/15/29(b)
|
|
8
|
7,986
|
|
Insulet Corp., 6.50%, 04/01/33(b)
|
|
97
|
99,008
|
|
Medline Borrower LP, 5.25%, 10/01/29(b)(g)
|
|
828
|
820,708
|
|
Medline Borrower LP/Medline Co-Issuer, Inc., 6.25%,
04/01/29(b)
|
|
304
|
309,771
|
|
Neogen Food Safety Corp., 8.63%, 07/20/30(b)
|
|
128
|
134,441
|
|
Thermo Fisher Scientific, Inc.
|
|
|
|
|
5.09%, 08/10/33
|
|
495
|
504,694
|
|
2.80%, 10/15/41
|
|
1,000
|
729,766
|
|
|
|
|
3,694,419
|
|
Health Care Providers & Services — 2.8%
|
|||
|
Acadia Healthcare Co., Inc., 7.38%, 03/15/33(b)(g)
|
|
64
|
65,525
|
|
Aetna, Inc., 4.50%, 05/15/42
|
|
575
|
480,652
|
|
AHP Health Partners, Inc., 5.75%, 07/15/29(b)
|
|
153
|
151,305
|
|
CHS/Community Health Systems, Inc.(b)
|
|
|
|
|
5.25%, 05/15/30
|
|
683
|
643,716
|
|
4.75%, 02/15/31
|
|
273
|
251,685
|
|
10.88%, 01/15/32
|
|
163
|
174,876
|
|
9.75%, 01/15/34
|
|
907
|
941,346
|
|
Concentra Health Services, Inc., 6.88%, 07/15/32(b)
|
|
274
|
283,279
|
|
DaVita, Inc.(b)
|
|
|
|
|
6.88%, 09/01/32
|
|
38
|
38,928
|
|
6.75%, 07/15/33
|
|
80
|
81,372
|
|
Elevance Health, Inc.
|
|
|
|
|
4.65%, 08/15/44
|
|
1,500
|
1,284,540
|
|
4.38%, 12/01/47
|
|
900
|
723,938
|
|
Fortrea Holdings, Inc., 7.50%, 07/01/30(b)
|
|
54
|
51,176
|
|
HAH Group Holding Co. LLC, 9.75%, 10/01/31(b)
|
|
84
|
73,589
|
|
HCA, Inc.
|
|
|
|
|
5.00%, 03/01/28
|
|
3,000
|
3,029,420
|
|
5.50%, 06/15/47
|
|
1,090
|
998,823
|
|
5.70%, 11/15/55
|
|
1,510
|
1,404,665
|
|
HealthEquity, Inc., 4.50%, 10/01/29(b)
|
|
170
|
164,473
|
|
IQVIA, Inc., 6.25%, 06/01/32(b)
|
|
350
|
355,422
|
|
LifePoint Health, Inc.(b)
|
|
|
|
|
9.88%, 08/15/30
|
|
94
|
99,406
|
|
11.00%, 10/15/30
|
|
315
|
338,773
|
|
Security
|
|
Par
(000)
|
Value
|
|
Health Care Providers & Services (continued)
|
|||
|
LifePoint Health, Inc.(b) (continued)
|
|
|
|
|
8.38%, 02/15/32
|
USD
|
109
|
$ 116,404
|
|
10.00%, 06/01/32(g)
|
|
166
|
169,524
|
|
Molina Healthcare, Inc.(b)
|
|
|
|
|
3.88%, 11/15/30
|
|
110
|
98,343
|
|
6.50%, 02/15/31
|
|
174
|
171,060
|
|
Northwell Healthcare, Inc., 4.26%, 11/01/47(g)
|
|
725
|
587,328
|
|
Option Care Health, Inc., 4.38%, 10/31/29(b)
|
|
76
|
73,249
|
|
Prime Healthcare Services, Inc., 9.38%, 09/01/29(b)
|
|
63
|
65,331
|
|
Sotera Health Holdings LLC, 7.38%, 06/01/31(b)
|
|
105
|
108,462
|
|
Star Parent, Inc., 9.00%, 10/01/30(b)
|
|
297
|
307,692
|
|
Surgery Center Holdings, Inc., 7.25%, 04/15/32(b)(g)
|
|
539
|
529,391
|
|
Sutter Health, Series 2025, 5.54%, 08/15/35
|
|
1,750
|
1,805,568
|
|
Tenet Healthcare Corp.
|
|
|
|
|
6.75%, 05/15/31
|
|
88
|
89,948
|
|
5.50%, 11/15/32(b)
|
|
106
|
105,022
|
|
6.00%, 11/15/33(b)
|
|
164
|
165,943
|
|
U.S. Acute Care Solutions LLC, 9.75%, 05/15/29(b)
|
|
162
|
156,500
|
|
UnitedHealth Group, Inc.
|
|
|
|
|
5.35%, 02/15/33
|
|
340
|
349,072
|
|
5.80%, 03/15/36
|
|
1,750
|
1,829,338
|
|
5.70%, 10/15/40
|
|
600
|
605,907
|
|
5.63%, 07/15/54(g)
|
|
800
|
762,459
|
|
|
|
|
19,733,450
|
|
Health Care REITs — 0.3%
|
|||
|
Alexandria Real Estate Equities, Inc.
|
|
|
|
|
4.75%, 04/15/35
|
|
140
|
132,394
|
|
4.85%, 04/15/49
|
|
550
|
459,099
|
|
Diversified Healthcare Trust, 7.25%, 10/15/30(b)
|
|
80
|
80,687
|
|
MPT Operating Partnership LP/MPT Finance Corp.,
8.50%, 02/15/32(b)
|
|
537
|
544,417
|
|
Ventas Realty LP, 3.25%, 10/15/26
|
|
870
|
865,207
|
|
|
|
|
2,081,804
|
|
Hotel & Resort REITs — 0.3%
|
|||
|
Park Intermediate Holdings LLC/PK Domestic Property
LLC/PK Finance Co-Issuer, 7.00%, 02/01/30(b)
|
|
121
|
122,482
|
|
Pebblebrook Hotel LP/PEB Finance Corp., 6.38%,
10/15/29(b)
|
|
65
|
65,118
|
|
RHP Hotel Properties LP/RHP Finance Corp.(b)
|
|
|
|
|
7.25%, 07/15/28
|
|
72
|
73,511
|
|
6.50%, 04/01/32
|
|
76
|
77,377
|
|
6.50%, 06/15/33
|
|
214
|
217,911
|
|
5.75%, 03/15/34
|
|
319
|
314,806
|
|
Service Properties Trust
|
|
|
|
|
0.00%, 09/30/28(b)(l)
|
|
157
|
142,838
|
|
8.63%, 11/15/31(b)
|
|
955
|
997,327
|
|
8.88%, 06/15/32
|
|
108
|
107,043
|
|
XHR LP, 6.63%, 05/15/30(b)
|
|
64
|
64,615
|
|
|
|
|
2,183,028
|
|
Hotels, Restaurants & Leisure — 0.4%
|
|||
|
Burger King (Restaurant Brands International, Inc.)/New
Red Finance, Inc.(b)
|
|
|
|
|
3.88%, 01/15/28
|
|
39
|
38,122
|
|
4.38%, 01/15/28
|
|
144
|
141,983
|
|
5.63%, 09/15/29
|
|
33
|
33,072
|
|
Corvias Campus Living - USG LLC, 5.30%, 07/01/50(d)
|
|
3,381
|
—
|
|
Fertitta Entertainment LLC/Fertitta Entertainment
Finance Co., Inc., 4.63%, 01/15/29(b)
|
|
162
|
154,828
|
|
Hilton Domestic Operating Co., Inc.(b)
|
|
|
|
|
6.13%, 04/01/32
|
|
60
|
60,900
|
|
5.88%, 03/15/33
|
|
49
|
49,299
|
|
5.75%, 09/15/33
|
|
32
|
31,856
|
|
Security
|
|
Par
(000)
|
Value
|
|
Hotels, Restaurants & Leisure (continued)
|
|||
|
Hilton Domestic Operating Co., Inc.(b) (continued)
|
|
|
|
|
5.50%, 03/31/34
|
USD
|
145
|
$ 141,662
|
|
MajorDrive Holdings IV LLC, 6.38%, 06/01/29(b)
|
|
160
|
118,346
|
|
Melco Resorts Finance Ltd.(b)
|
|
|
|
|
5.75%, 07/21/28
|
|
200
|
196,386
|
|
5.38%, 12/04/29
|
|
400
|
383,500
|
|
7.63%, 04/17/32
|
|
400
|
406,094
|
|
MGM Resorts International, 6.13%, 09/15/29
|
|
88
|
88,521
|
|
Station Casinos LLC(b)
|
|
|
|
|
4.50%, 02/15/28
|
|
7
|
6,861
|
|
6.63%, 03/15/32
|
|
81
|
81,314
|
|
Wyndham Hotels & Resorts, Inc., 5.63%, 03/01/33(b)
|
|
85
|
83,638
|
|
Wynn Macau Ltd.(b)
|
|
|
|
|
5.63%, 08/26/28
|
|
800
|
786,370
|
|
5.13%, 12/15/29
|
|
200
|
191,210
|
|
|
|
|
2,993,962
|
|
Household Durables — 0.2%
|
|||
|
Ashton Woods USA LLC/Ashton Woods Finance Co.,
6.88%, 08/01/33(b)
|
|
83
|
80,073
|
|
Beazer Homes USA, Inc., 5.88%, 10/15/27
|
|
28
|
27,865
|
|
Century Communities, Inc., 6.63%, 09/15/33(b)
|
|
104
|
101,883
|
|
Dream Finders Homes, Inc., 8.25%, 08/15/28(b)
|
|
58
|
58,934
|
|
Empire Communities Corp., 9.75%, 05/01/29(b)
|
|
28
|
28,115
|
|
Installed Building Products, Inc., 5.63%, 02/01/34(b)
|
|
127
|
123,926
|
|
K Hovnanian Enterprises, Inc.(b)
|
|
|
|
|
8.00%, 04/01/31
|
|
197
|
194,771
|
|
8.38%, 10/01/33
|
|
183
|
180,967
|
|
LGI Homes, Inc.(b)
|
|
|
|
|
8.75%, 12/15/28
|
|
56
|
57,295
|
|
7.00%, 11/15/32
|
|
69
|
63,979
|
|
Mattamy Group Corp., 6.00%, 12/15/33(b)
|
|
41
|
38,501
|
|
Meritage Homes Corp., 1.75%, 05/15/28(j)
|
|
206
|
198,378
|
|
Newell Brands, Inc.
|
|
|
|
|
8.50%, 06/01/28(b)
|
|
115
|
118,703
|
|
6.63%, 09/15/29
|
|
37
|
36,115
|
|
6.38%, 05/15/30
|
|
44
|
42,236
|
|
6.63%, 05/15/32
|
|
64
|
61,247
|
|
Risewell Homes, Inc., 8.50%, 11/01/30(b)
|
|
34
|
33,246
|
|
Scotts Miracle-Gro Co.
|
|
|
|
|
4.50%, 10/15/29
|
|
13
|
12,709
|
|
4.38%, 02/01/32
|
|
22
|
20,547
|
|
Somnigroup International, Inc., 3.88%, 10/15/31(b)
|
|
45
|
40,912
|
|
STL Holding Co. LLC, 8.75%, 02/15/29(b)
|
|
76
|
78,518
|
|
Taylor Morrison Communities, Inc., 5.75%, 11/15/32(b)
|
|
62
|
62,054
|
|
|
|
|
1,660,974
|
|
Independent Power and Renewable Electricity Producers(b) — 0.6%
|
|||
|
Clearway Energy Operating LLC, 4.75%, 03/15/28
|
|
93
|
91,759
|
|
India Cleantech Energy, 4.70%, 08/10/26
|
|
185
|
183,985
|
|
Lightning Power LLC, 7.25%, 08/15/32
|
|
49
|
50,934
|
|
NRG Energy, Inc.
|
|
|
|
|
5.75%, 07/15/29
|
|
81
|
80,879
|
|
6.00%, 02/01/33
|
|
542
|
542,138
|
|
5.75%, 01/15/34
|
|
362
|
357,086
|
|
6.25%, 11/01/34
|
|
57
|
57,455
|
|
5.41%, 10/15/35
|
|
1,500
|
1,471,387
|
|
6.00%, 01/15/36
|
|
965
|
956,225
|
|
Vistra Corp., (5-year CMT + 6.93%), 8.00%(a)(i)
|
|
100
|
101,060
|
|
|
|
|
3,892,908
|
|
Industrial Conglomerates — 0.2%
|
|||
|
3M Co., 3.25%, 08/26/49
|
|
600
|
401,333
|
|
Amsted Industries, Inc., 6.38%, 03/15/33(b)
|
|
66
|
66,327
|
|
Avient Corp., 6.25%, 11/01/31(b)
|
|
94
|
94,656
|
|
Security
|
|
Par
(000)
|
Value
|
|
Industrial Conglomerates (continued)
|
|||
|
Axon Enterprise, Inc., 6.25%, 03/15/33(b)
|
USD
|
52
|
$ 53,079
|
|
Eaton Corp., 4.15%, 11/02/42
|
|
500
|
428,955
|
|
Enpro, Inc., 6.13%, 06/01/33(b)
|
|
85
|
85,975
|
|
Maxam Prill SARL, 6.00%, 07/15/30(e)
|
EUR
|
100
|
114,227
|
|
|
|
|
1,244,552
|
|
Insurance — 3.1%
|
|||
|
Alliant Holdings Intermediate LLC/Alliant Holdings Co-
Issuer(b)
|
|
|
|
|
4.25%, 10/15/27
|
USD
|
473
|
463,567
|
|
6.75%, 10/15/27
|
|
69
|
68,947
|
|
6.75%, 04/15/28
|
|
71
|
71,387
|
|
5.88%, 11/01/29
|
|
1,093
|
1,057,509
|
|
7.00%, 01/15/31
|
|
598
|
603,090
|
|
6.50%, 10/01/31
|
|
25
|
24,549
|
|
7.38%, 10/01/32
|
|
431
|
426,884
|
|
AmWINS Group, Inc., 6.38%, 02/15/29(b)
|
|
62
|
62,359
|
|
Amynta Agency Borrower, Inc. and Amynta Warranty
Borrower, Inc., 7.50%, 07/15/33(b)
|
|
201
|
190,616
|
|
Aon Global Ltd., 4.60%, 06/14/44
|
|
500
|
423,669
|
|
APH Somerset Investor 2 LLC/APH2 Somerset Investor
2 LLC/APH3 Somerset Investor 2 LLC, 7.88%,
11/01/29(b)
|
|
140
|
126,598
|
|
Ardonagh Finco Ltd.
|
|
|
|
|
6.88%, 02/15/31(e)
|
EUR
|
200
|
229,575
|
|
7.75%, 02/15/31(b)
|
USD
|
893
|
903,463
|
|
Ardonagh Group Finance Ltd., 8.88%, 02/15/32(b)
|
|
936
|
917,058
|
|
Asurion LLC/Asurion Co-Issuer, Inc.(b)
|
|
|
|
|
8.00%, 12/31/32
|
|
489
|
507,312
|
|
8.38%, 02/01/34
|
|
486
|
471,839
|
|
Berkshire Hathaway Finance Corp., 4.40%, 05/15/42
|
|
500
|
446,695
|
|
Howden U.K. Refinance PLC/Howden U.K. Refinance
2 PLC/Howden U.S. Refinance LLC(b)
|
|
|
|
|
7.25%, 02/15/31
|
|
1,000
|
1,008,421
|
|
8.13%, 02/15/32
|
|
586
|
549,053
|
|
HUB International Ltd.(b)
|
|
|
|
|
7.25%, 06/15/30
|
|
1,060
|
1,085,868
|
|
7.38%, 01/31/32
|
|
2,388
|
2,435,672
|
|
Jones Deslauriers Insurance Management, Inc.(b)
|
|
|
|
|
8.50%, 03/15/30
|
|
353
|
358,799
|
|
6.88%, 10/01/33
|
|
184
|
168,327
|
|
Liberty Mutual Group, Inc., 6.50%, 05/01/42(b)
|
|
2,000
|
1,981,402
|
|
Marsh & McLennan Cos., Inc., 5.88%, 08/01/33
|
|
1,500
|
1,592,847
|
|
Panther Escrow Issuer LLC, 7.13%, 06/01/31(b)
|
|
1,539
|
1,544,169
|
|
Progressive Corp., 3.00%, 03/15/32
|
|
750
|
685,796
|
|
Prudential Financial, Inc.
|
|
|
|
|
5.90%, 03/17/36
|
|
500
|
513,073
|
|
6.63%, 12/01/37
|
|
1,625
|
1,790,949
|
|
Ryan Specialty LLC(b)
|
|
|
|
|
4.38%, 02/01/30
|
|
60
|
58,126
|
|
5.88%, 08/01/32
|
|
113
|
111,685
|
|
Teachers Insurance & Annuity Association of America,
4.27%, 05/15/47(b)
|
|
700
|
562,778
|
|
USI, Inc., 7.50%, 01/15/32(b)
|
|
431
|
436,672
|
|
|
|
|
21,878,754
|
|
Interactive Media & Services — 1.2%
|
|||
|
Alphabet, Inc.
|
|
|
|
|
5.35%, 11/15/45
|
|
1,440
|
1,408,019
|
|
5.45%, 11/15/55
|
|
900
|
871,381
|
|
5.30%, 05/15/65
|
|
600
|
555,378
|
|
Beignet Investor LLC, 6.58%, 05/30/49(b)(g)
|
|
3,403
|
3,498,815
|
|
Security
|
|
Par
(000)
|
Value
|
|
Interactive Media & Services (continued)
|
|||
|
iliad SA(e)
|
|
|
|
|
5.63%, 02/15/30
|
EUR
|
100
|
$ 121,012
|
|
4.25%, 01/09/32
|
|
100
|
113,185
|
|
ION Platform Finance U.S., Inc./ION Platform Finance
SARL, 5.00%, 05/01/28(b)
|
USD
|
277
|
258,731
|
|
Meta Platforms, Inc.
|
|
|
|
|
5.63%, 11/15/55
|
|
1,000
|
937,390
|
|
5.55%, 08/15/64
|
|
700
|
629,130
|
|
Snap, Inc.(b)
|
|
|
|
|
6.88%, 03/01/33(g)
|
|
222
|
209,628
|
|
6.88%, 03/15/34
|
|
144
|
135,442
|
|
|
|
|
8,738,111
|
|
Internet Software & Services — 0.6%
|
|||
|
Amazon.com, Inc.
|
|
|
|
|
2.50%, 06/03/50
|
|
1,500
|
875,650
|
|
3.95%, 04/13/52(g)
|
|
3,630
|
2,783,281
|
|
Getty Images, Inc.(b)
|
|
|
|
|
11.25%, 02/21/30
|
|
95
|
85,556
|
|
10.50%, 11/15/30
|
|
71
|
63,674
|
|
Match Group Holdings II LLC(b)
|
|
|
|
|
4.13%, 08/01/30
|
|
20
|
18,535
|
|
3.63%, 10/01/31
|
|
24
|
21,338
|
|
6.13%, 09/15/33
|
|
156
|
151,603
|
|
Rakuten Group, Inc.(b)
|
|
|
|
|
11.25%, 02/15/27
|
|
200
|
207,003
|
|
9.75%, 04/15/29
|
|
200
|
213,120
|
|
|
|
|
4,419,760
|
|
IT Services — 0.6%
|
|||
|
Amentum Holdings, Inc., 7.25%, 08/01/32(b)(g)
|
|
47
|
48,636
|
|
Atos SE, 9.73%, 12/18/29(e)(m)
|
EUR
|
17
|
22,051
|
|
CACI International, Inc., 6.38%, 06/15/33(b)
|
USD
|
170
|
173,047
|
|
CoreWeave, Inc., 9.25%, 06/01/30(b)(g)
|
|
271
|
263,320
|
|
Fair Isaac Corp.(b)
|
|
|
|
|
4.00%, 06/15/28
|
|
45
|
43,669
|
|
6.00%, 05/15/33
|
|
607
|
595,601
|
|
Fidelity National Information Services, Inc., 4.50%,
08/15/46
|
|
1,000
|
814,356
|
|
Fiserv, Inc., 4.40%, 07/01/49(g)
|
|
500
|
378,056
|
|
Fortress Intermediate 3, Inc., 7.50%, 06/01/31(b)(g)
|
|
226
|
224,610
|
|
International Business Machines Corp.
|
|
|
|
|
4.40%, 07/27/32
|
|
500
|
489,863
|
|
4.75%, 02/06/33(g)
|
|
550
|
546,587
|
|
3.43%, 02/09/52
|
|
750
|
493,303
|
|
Science Applications International Corp., 5.88%,
11/01/33(b)
|
|
141
|
137,598
|
|
|
|
|
4,230,697
|
|
Leisure Products — 0.4%
|
|||
|
Acushnet Co., 5.63%, 12/01/33(b)
|
|
63
|
62,513
|
|
Carnival Corp.(b)
|
|
|
|
|
5.88%, 06/15/31
|
|
107
|
108,315
|
|
5.75%, 08/01/32
|
|
109
|
108,965
|
|
6.13%, 02/15/33
|
|
455
|
459,561
|
|
Carnival PLC, 4.13%, 07/15/31(b)
|
EUR
|
135
|
151,927
|
|
Deuce Finco PLC, 7.00%, 11/20/31(e)
|
GBP
|
100
|
130,338
|
|
Lindblad Expeditions LLC, 7.00%, 09/15/30(b)
|
USD
|
192
|
196,030
|
|
NCL Corp. Ltd.(b)
|
|
|
|
|
5.88%, 01/15/31
|
|
31
|
30,119
|
|
6.75%, 02/01/32
|
|
68
|
67,484
|
|
6.25%, 09/15/33(g)
|
|
381
|
369,699
|
|
Sabre Financial Borrower LLC, 11.13%, 06/15/29(b)
|
|
441
|
451,285
|
|
Security
|
|
Par
(000)
|
Value
|
|
Leisure Products (continued)
|
|||
|
Viking Cruises Ltd.(b)
|
|
|
|
|
7.00%, 02/15/29
|
USD
|
34
|
$ 34,063
|
|
9.13%, 07/15/31
|
|
195
|
205,714
|
|
5.88%, 10/15/33
|
|
322
|
317,914
|
|
Viking Ocean Cruises Ship VII Ltd., 5.63%, 02/15/29(b)
|
|
111
|
110,832
|
|
|
|
|
2,804,759
|
|
Machinery — 0.3%
|
|||
|
Chart Industries, Inc.(b)
|
|
|
|
|
7.50%, 01/01/30
|
|
81
|
84,152
|
|
9.50%, 01/01/31
|
|
61
|
64,080
|
|
Columbus McKinnon Corp., 7.13%, 02/01/33(b)
|
|
119
|
118,945
|
|
Esab Corp.(b)
|
|
|
|
|
6.25%, 04/15/29
|
|
145
|
147,160
|
|
5.63%, 04/01/31
|
|
309
|
311,166
|
|
GrafTech Global Enterprises, Inc., 9.88%, 12/23/29(b)(g)
|
|
82
|
52,373
|
|
John Deere Capital Corp., 4.40%, 09/08/31
|
|
445
|
444,461
|
|
King U.S. Bidco, Inc., (3-mo. EURIBOR + 3.25%),
5.31%, 12/01/32(a)(e)
|
EUR
|
100
|
115,019
|
|
Lsf12 Helix Parent LLC, 7.13%, 02/01/33(b)
|
USD
|
290
|
279,098
|
|
Manitowoc Co., Inc., 9.25%, 10/01/31(b)
|
|
72
|
75,188
|
|
Terex Corp.(b)
|
|
|
|
|
5.00%, 05/15/29(g)
|
|
72
|
70,935
|
|
6.25%, 10/15/32
|
|
107
|
107,697
|
|
TK Elevator Midco GmbH, 4.38%, 07/15/27(e)
|
EUR
|
57
|
66,148
|
|
TK Elevator U.S. Newco, Inc., 5.25%, 07/15/27(b)
|
USD
|
200
|
199,477
|
|
|
|
|
2,135,899
|
|
Media — 2.5%
|
|||
|
Block Communications, Inc., 10.25%, 03/01/31(b)
|
|
48
|
43,917
|
|
Cable One, Inc., 1.13%, 03/15/28(j)
|
|
449
|
337,648
|
|
CCO Holdings LLC/CCO Holdings Capital Corp.
|
|
|
|
|
5.38%, 06/01/29(b)
|
|
21
|
20,711
|
|
6.38%, 09/01/29(b)
|
|
442
|
443,356
|
|
4.75%, 03/01/30(b)
|
|
62
|
58,830
|
|
4.25%, 02/01/31(b)
|
|
475
|
432,941
|
|
4.75%, 02/01/32(b)
|
|
335
|
302,896
|
|
4.50%, 05/01/32
|
|
17
|
15,186
|
|
7.00%, 02/01/33(b)
|
|
181
|
181,499
|
|
4.50%, 06/01/33(b)
|
|
354
|
308,201
|
|
4.25%, 01/15/34(b)(g)
|
|
560
|
479,076
|
|
7.38%, 02/01/36(b)
|
|
588
|
585,558
|
|
Charter Communications Operating LLC/Charter
Communications Operating Capital
|
|
|
|
|
5.75%, 04/01/48
|
|
1,100
|
917,400
|
|
5.13%, 07/01/49
|
|
1,000
|
767,780
|
|
Comcast Corp.
|
|
|
|
|
6.45%, 03/15/37
|
|
790
|
855,204
|
|
3.90%, 03/01/38
|
|
1,500
|
1,288,208
|
|
4.70%, 10/15/48(g)
|
|
3,000
|
2,456,817
|
|
CSC Holdings LLC(b)
|
|
|
|
|
5.50%, 04/15/27
|
|
200
|
173,479
|
|
5.38%, 02/01/28
|
|
607
|
448,908
|
|
11.25%, 05/15/28
|
|
400
|
326,858
|
|
Directv Financing LLC, 8.88%, 02/01/30(b)
|
|
290
|
289,355
|
|
Directv Financing LLC/Directv Financing Co-Obligor,
Inc.(b)
|
|
|
|
|
5.88%, 08/15/27
|
|
332
|
331,650
|
|
10.00%, 02/15/31
|
|
232
|
236,832
|
|
Discovery Communications LLC, 3.95%, 03/20/28
|
|
142
|
139,117
|
|
DISH DBS Corp.(b)
|
|
|
|
|
5.25%, 12/01/26
|
|
810
|
803,053
|
|
5.75%, 12/01/28
|
|
373
|
360,763
|
|
Security
|
|
Par
(000)
|
Value
|
|
Media (continued)
|
|||
|
DISH Network Corp., 11.75%, 11/15/27(b)
|
USD
|
910
|
$ 937,523
|
|
Gray Media, Inc.(b)
|
|
|
|
|
10.50%, 07/15/29(g)
|
|
79
|
83,949
|
|
9.63%, 07/15/32(g)
|
|
342
|
341,978
|
|
7.25%, 08/15/33
|
|
302
|
304,317
|
|
Midcontinent Communications, 8.00%, 08/15/32(b)
|
|
65
|
60,538
|
|
Sinclair Television Group, Inc., 8.13%, 02/15/33(b)(g)
|
|
439
|
446,272
|
|
Sirius XM Radio LLC, 5.00%, 08/01/27(b)
|
|
180
|
179,749
|
|
Sunrise FinCo I BV, 4.63%, 05/15/32(e)
|
EUR
|
100
|
112,936
|
|
Univision Communications, Inc.(b)
|
|
|
|
|
8.00%, 08/15/28
|
USD
|
476
|
483,136
|
|
7.38%, 06/30/30(g)
|
|
120
|
117,590
|
|
8.50%, 07/31/31(g)
|
|
322
|
323,571
|
|
9.38%, 08/01/32
|
|
97
|
99,970
|
|
Versant Media Group, Inc., 7.25%, 01/30/31(b)
|
|
68
|
69,591
|
|
VZ Secured Financing BV, 5.25%, 01/15/33(e)
|
EUR
|
100
|
106,559
|
|
Walt Disney Co.
|
|
|
|
|
7.63%, 11/30/28
|
USD
|
385
|
415,227
|
|
7.75%, 12/01/45
|
|
500
|
618,931
|
|
Ziggo BV, 4.88%, 01/15/30(b)
|
|
200
|
186,777
|
|
|
|
|
17,493,857
|
|
Metals & Mining — 1.1%
|
|||
|
Advanced Drainage Systems, Inc., 6.38%, 06/15/30(b)
|
|
153
|
154,329
|
|
Arsenal AIC Parent LLC(b)
|
|
|
|
|
8.00%, 10/01/30
|
|
161
|
167,628
|
|
11.50%, 10/01/31
|
|
649
|
701,246
|
|
Big River Steel LLC/BRS Finance Corp., 6.63%,
01/31/29(b)
|
|
302
|
301,301
|
|
Carpenter Technology Corp., 5.63%, 03/01/34(b)
|
|
167
|
165,462
|
|
Cleveland-Cliffs, Inc., 6.88%, 11/01/29(b)
|
|
272
|
271,976
|
|
Commercial Metals Co.(b)
|
|
|
|
|
5.75%, 11/15/33
|
|
193
|
190,971
|
|
6.00%, 12/15/35
|
|
199
|
196,183
|
|
Constellium SE(b)
|
|
|
|
|
3.75%, 04/15/29
|
|
591
|
563,675
|
|
6.38%, 08/15/32
|
|
250
|
252,710
|
|
ERO Copper Corp., 6.50%, 02/15/30(b)
|
|
43
|
42,565
|
|
First Quantum Minerals Ltd.(b)
|
|
|
|
|
8.00%, 03/01/33
|
|
200
|
206,634
|
|
7.25%, 02/15/34
|
|
200
|
202,484
|
|
6.38%, 02/15/36
|
|
311
|
297,566
|
|
Glencore Funding LLC, 6.14%, 04/01/55(b)
|
|
600
|
603,498
|
|
Kaiser Aluminum Corp.(b)
|
|
|
|
|
4.50%, 06/01/31
|
|
331
|
312,708
|
|
5.88%, 03/01/34
|
|
474
|
465,405
|
|
New Gold, Inc., 6.88%, 04/01/32(b)
|
|
162
|
167,436
|
|
Novelis Corp.(b)
|
|
|
|
|
4.75%, 01/30/30
|
|
95
|
89,537
|
|
6.88%, 01/30/30
|
|
256
|
258,220
|
|
3.88%, 08/15/31
|
|
175
|
155,864
|
|
6.38%, 08/15/33
|
|
338
|
331,542
|
|
Novelis Sheet Ingot GmbH, 3.38%, 04/15/29(e)
|
EUR
|
100
|
109,677
|
|
Rio Tinto Finance USA PLC, 4.13%, 08/21/42
|
USD
|
400
|
337,183
|
|
Samarco Mineracao SA(h)
|
|
|
|
|
(9.00% Cash or 9.00% PIK), 9.50%, 06/30/31(e)
|
|
121
|
119,548
|
|
(9.00% PIK), 9.50%, 06/30/31(b)
|
|
9
|
8,916
|
|
Steel Dynamics, Inc., 5.75%, 05/15/55
|
|
400
|
385,601
|
|
Vale Overseas Ltd., 6.40%, 06/28/54
|
|
36
|
36,222
|
|
Vallourec SACA, 7.50%, 04/15/32(b)
|
|
200
|
209,603
|
|
Security
|
|
Par
(000)
|
Value
|
|
Metals & Mining (continued)
|
|||
|
Vedanta Resources Finance II PLC, 10.88%,
09/17/29(b)
|
USD
|
200
|
$ 209,400
|
|
Volcan Cia Minera SAA, 8.50%, 10/28/32(b)
|
|
74
|
75,288
|
|
|
|
|
7,590,378
|
|
Mortgage Real Estate Investment Trusts (REITs)(b) — 0.1%
|
|||
|
Blackstone Mortgage Trust, Inc., 3.75%, 01/15/27
|
|
149
|
146,447
|
|
Starwood Property Trust, Inc.
|
|
|
|
|
7.25%, 04/01/29
|
|
94
|
96,785
|
|
6.00%, 04/15/30
|
|
48
|
47,907
|
|
6.50%, 07/01/30
|
|
67
|
68,425
|
|
6.50%, 10/15/30
|
|
198
|
200,814
|
|
|
|
|
560,378
|
|
Multi-Utilities — 0.8%
|
|||
|
AmeriGas Partners LP/AmeriGas Finance Corp., 9.50%,
06/01/30(b)
|
|
106
|
112,298
|
|
KeySpan Gas East Corp., 5.82%, 04/01/41(b)
|
|
1,010
|
1,004,515
|
|
NiSource, Inc., 1.70%, 02/15/31
|
|
400
|
347,633
|
|
Piedmont Natural Gas Co., Inc., 5.10%, 02/15/35(g)
|
|
4,450
|
4,429,321
|
|
|
|
|
5,893,767
|
|
Oil, Gas & Consumable Fuels — 5.2%
|
|||
|
Aethon United BR LP/Aethon United Finance Corp.,
7.50%, 10/01/29(b)
|
|
267
|
278,472
|
|
Antero Midstream Partners LP/Antero Midstream
Finance Corp.(b)
|
|
|
|
|
5.38%, 06/15/29
|
|
140
|
139,551
|
|
6.63%, 02/01/32
|
|
76
|
77,675
|
|
Ascent Resources Utica Holdings LLC/ARU Finance
Corp.(b)
|
|
|
|
|
9.00%, 11/01/27
|
|
91
|
106,242
|
|
5.88%, 06/30/29
|
|
6
|
5,994
|
|
6.63%, 07/15/33
|
|
90
|
91,546
|
|
Blue Racer Midstream LLC/Blue Racer Finance Corp.(b)
|
|
|
|
|
7.00%, 07/15/29
|
|
120
|
123,968
|
|
7.25%, 07/15/32
|
|
97
|
100,762
|
|
BP Capital Markets America, Inc., 2.72%, 01/12/32(g)
|
|
620
|
560,250
|
|
Buckeye Partners LP
|
|
|
|
|
6.88%, 07/01/29(b)
|
|
11
|
11,322
|
|
6.75%, 02/01/30(b)
|
|
46
|
47,473
|
|
5.85%, 11/15/43
|
|
94
|
85,080
|
|
5.60%, 10/15/44
|
|
59
|
51,730
|
|
Burlington Resources LLC, 5.95%, 10/15/36
|
|
685
|
731,712
|
|
California Resources Corp., 7.00%, 01/15/34(b)
|
|
75
|
75,612
|
|
Caturus Energy LLC, 8.50%, 02/15/30(b)
|
|
383
|
397,407
|
|
Cheniere Energy Partners LP, 5.55%, 10/30/35(g)
|
|
3,000
|
3,055,045
|
|
Chord Energy Corp., 6.75%, 03/15/33(b)
|
|
58
|
59,882
|
|
CITGO Petroleum Corp., 8.38%, 01/15/29(b)
|
|
322
|
332,524
|
|
CNX Midstream Partners LP, 4.75%, 04/15/30(b)
|
|
66
|
62,749
|
|
CNX Resources Corp.(b)
|
|
|
|
|
7.25%, 03/01/32
|
|
60
|
61,827
|
|
5.88%, 03/01/34
|
|
172
|
167,507
|
|
Comstock Resources, Inc.(b)
|
|
|
|
|
6.75%, 03/01/29
|
|
401
|
395,881
|
|
5.88%, 01/15/30
|
|
151
|
146,103
|
|
ConocoPhillips Co., 3.76%, 03/15/42
|
|
600
|
482,965
|
|
CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%,
06/15/31(b)
|
|
500
|
487,621
|
|
Crescent Energy Finance LLC(b)
|
|
|
|
|
7.75%, 07/31/29
|
|
59
|
59,443
|
|
9.75%, 10/15/30
|
|
98
|
104,860
|
|
7.63%, 04/01/32
|
|
124
|
125,839
|
|
7.38%, 01/15/33
|
|
244
|
243,939
|
|
Security
|
|
Par
(000)
|
Value
|
|
Oil, Gas & Consumable Fuels (continued)
|
|||
|
Crescent Energy Finance LLC(b) (continued)
|
|
|
|
|
8.38%, 01/15/34
|
USD
|
72
|
$ 75,269
|
|
CVR Energy, Inc.(b)
|
|
|
|
|
7.50%, 02/15/31
|
|
75
|
75,560
|
|
7.88%, 02/15/34
|
|
51
|
51,179
|
|
DBR Land Holdings LLC, 6.25%, 12/01/30(b)
|
|
104
|
105,299
|
|
Delek Logistics Partners LP/Delek Logistics Finance
Corp., 7.38%, 06/30/33(b)
|
|
219
|
220,811
|
|
Devon Energy Corp., 5.60%, 07/15/41
|
|
300
|
289,951
|
|
Diamond Foreign Asset Co./Diamond Finance LLC,
8.50%, 10/01/30(b)
|
|
80
|
84,515
|
|
Ecopetrol SA, 8.88%, 01/13/33
|
|
88
|
92,884
|
|
Energy Transfer LP
|
|
|
|
|
6.25%, 04/15/49
|
|
540
|
529,593
|
|
(5-year CMT + 4.02%), 8.00%, 05/15/54(a)
|
|
342
|
358,209
|
|
Series H, (5-year CMT + 5.69%), 6.50%(a)(i)
|
|
4,275
|
4,266,422
|
|
Enterprise Products Operating LLC, 6.13%, 10/15/39
|
|
1,400
|
1,489,565
|
|
EOG Resources, Inc., 5.10%, 01/15/36
|
|
200
|
197,530
|
|
EQT Corp., 4.50%, 01/15/29
|
|
5
|
4,988
|
|
Genesis Energy LP/Genesis Energy Finance Corp.
|
|
|
|
|
8.00%, 05/15/33
|
|
29
|
29,965
|
|
6.75%, 03/15/34
|
|
317
|
315,502
|
|
Global Partners LP/GLP Finance Corp., 7.13%,
07/01/33(b)
|
|
66
|
66,539
|
|
Gran Tierra Energy, Inc., 9.50%, 10/15/29(b)
|
|
200
|
170,000
|
|
Gulfport Energy Operating Corp., 6.75%, 09/01/29(b)
|
|
99
|
101,249
|
|
Harvest Midstream I LP, 7.50%, 05/15/32(b)
|
|
58
|
59,118
|
|
Hess Midstream Operations LP(b)
|
|
|
|
|
6.50%, 06/01/29
|
|
118
|
120,540
|
|
4.25%, 02/15/30
|
|
67
|
64,383
|
|
Hilcorp Energy I LP/Hilcorp Finance Co.(b)
|
|
|
|
|
6.25%, 11/01/28
|
|
70
|
70,140
|
|
5.75%, 02/01/29
|
|
94
|
92,685
|
|
6.00%, 04/15/30
|
|
12
|
11,680
|
|
6.25%, 04/15/32
|
|
9
|
8,710
|
|
8.38%, 11/01/33
|
|
254
|
265,006
|
|
6.88%, 05/15/34
|
|
40
|
39,080
|
|
7.25%, 02/15/35
|
|
45
|
44,861
|
|
Howard Midstream Energy Partners LLC(b)
|
|
|
|
|
7.38%, 07/15/32
|
|
27
|
27,919
|
|
6.63%, 01/15/34
|
|
182
|
182,692
|
|
Impulsora Pipeline LLC, 6.05%, 01/01/43(a)
|
|
1,461
|
1,277,142
|
|
Infinity Natural Resources LLC, 7.63%, 04/01/31(b)
|
|
119
|
119,628
|
|
ITT Holdings LLC, 6.50%, 08/01/29(b)(g)
|
|
460
|
447,276
|
|
Kinder Morgan, Inc., 5.05%, 02/15/46
|
|
1,400
|
1,247,570
|
|
Kinetik Holdings LP(b)
|
|
|
|
|
6.63%, 12/15/28
|
|
36
|
36,609
|
|
5.88%, 06/15/30
|
|
11
|
11,040
|
|
Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas
Finance Corp., 6.88%, 12/01/32(b)
|
|
78
|
80,273
|
|
Marathon Petroleum Corp., 6.50%, 03/01/41(g)
|
|
1,150
|
1,224,072
|
|
Matador Resources Co.(b)
|
|
|
|
|
6.50%, 04/15/32
|
|
159
|
160,732
|
|
6.00%, 04/15/34
|
|
150
|
149,052
|
|
MC Brazil Downstream Trading SARL, 7.25%,
06/30/31(e)
|
|
181
|
161,987
|
|
MPLX LP
|
|
|
|
|
4.25%, 12/01/27
|
|
250
|
249,268
|
|
4.80%, 02/15/29
|
|
500
|
504,162
|
|
Murphy Oil Corp., 5.88%, 12/01/42
|
|
18
|
15,274
|
|
Nabors Industries, Inc., 7.63%, 11/15/32(b)
|
|
101
|
103,388
|
|
Security
|
|
Par
(000)
|
Value
|
|
Oil, Gas & Consumable Fuels (continued)
|
|||
|
NGL Energy Operating LLC/NGL Energy Finance
Corp.(b)
|
|
|
|
|
8.13%, 02/15/29
|
USD
|
174
|
$ 179,246
|
|
8.38%, 02/15/32
|
|
390
|
401,912
|
|
Noble Finance II LLC, 8.00%, 04/15/30(b)
|
|
69
|
71,042
|
|
Northern Oil & Gas, Inc., 7.88%, 10/15/33(b)
|
|
215
|
222,450
|
|
Northriver Midstream Finance LP, 6.75%, 07/15/32(b)
|
|
93
|
93,274
|
|
PBF Holding Co. LLC/PBF Finance Corp., 7.88%,
09/15/30(b)
|
|
112
|
115,014
|
|
Permian Resources Operating LLC(b)
|
|
|
|
|
8.00%, 04/15/27
|
|
189
|
189,161
|
|
5.88%, 07/01/29
|
|
170
|
170,194
|
|
7.00%, 01/15/32(g)
|
|
144
|
149,111
|
|
6.25%, 02/01/33
|
|
79
|
80,472
|
|
Petrobras Global Finance BV, 6.75%, 01/27/41
|
|
70
|
68,166
|
|
Petroleos Mexicanos
|
|
|
|
|
8.75%, 06/02/29
|
|
165
|
173,620
|
|
5.95%, 01/28/31
|
|
152
|
145,380
|
|
Pluspetrol Camisea SA/Pluspetrol Lote 56 SA, 6.24%,
07/03/36(b)
|
|
50
|
51,813
|
|
Prairie Acquiror LP, 9.00%, 08/01/29(b)
|
|
113
|
116,727
|
|
Raizen Fuels Finance SA, 6.45%, 03/05/34(b)
|
|
200
|
110,000
|
|
Rockies Express Pipeline LLC, 4.95%, 07/15/29(b)
|
|
36
|
35,102
|
|
Sabine Pass Liquefaction LLC, 5.00%, 03/15/27
|
|
1,750
|
1,753,275
|
|
SM Energy Co.(b)
|
|
|
|
|
8.75%, 07/01/31
|
|
95
|
99,303
|
|
6.63%, 04/15/34
|
|
344
|
343,028
|
|
Sunoco LP(b)
|
|
|
|
|
5.63%, 03/15/31
|
|
74
|
73,661
|
|
6.63%, 08/15/32
|
|
101
|
102,582
|
|
6.25%, 07/01/33
|
|
106
|
106,462
|
|
5.88%, 03/15/34
|
|
75
|
74,172
|
|
Tallgrass Energy Partners LP/Tallgrass Energy Finance
Corp.(b)
|
|
|
|
|
5.50%, 01/15/28
|
|
95
|
94,196
|
|
7.38%, 02/15/29
|
|
302
|
310,679
|
|
6.00%, 09/01/31
|
|
67
|
66,117
|
|
TGNR Intermediate Holdings LLC, 5.50%, 10/15/29(b)
|
|
119
|
116,353
|
|
TransCanada PipeLines Ltd., 5.60%, 03/31/34
|
|
500
|
514,174
|
|
TransMontaigne Partners LLC, 8.50%, 06/15/30(b)
|
|
30
|
30,328
|
|
Transocean International Ltd.(b)
|
|
|
|
|
8.25%, 05/15/29
|
|
59
|
60,962
|
|
8.75%, 02/15/30
|
|
17
|
17,475
|
|
8.50%, 05/15/31
|
|
110
|
115,368
|
|
7.88%, 10/15/32
|
|
109
|
116,467
|
|
Valaris Ltd., 8.38%, 04/30/30(b)
|
|
143
|
148,175
|
|
Venture Global LNG, Inc.(b)
|
|
|
|
|
9.50%, 02/01/29
|
|
1,024
|
1,107,246
|
|
8.38%, 06/01/31
|
|
631
|
656,224
|
|
9.88%, 02/01/32
|
|
1,305
|
1,401,554
|
|
Venture Global Plaquemines LNG LLC(b)
|
|
|
|
|
6.13%, 12/15/30
|
|
367
|
377,432
|
|
7.50%, 05/01/33
|
|
192
|
211,047
|
|
6.50%, 01/15/34
|
|
515
|
536,859
|
|
7.75%, 05/01/35
|
|
336
|
376,581
|
|
6.75%, 01/15/36
|
|
633
|
670,443
|
|
Vista Energy Argentina SAU, 8.50%, 06/10/33(b)
|
|
38
|
39,743
|
|
Security
|
|
Par
(000)
|
Value
|
|
Oil, Gas & Consumable Fuels (continued)
|
|||
|
Vital Energy, Inc., 7.88%, 04/15/32(b)(g)
|
USD
|
211
|
$ 215,570
|
|
Wildfire Intermediate Holdings LLC, 7.50%, 10/15/29(b)
|
|
168
|
170,229
|
|
|
|
|
36,248,687
|
|
Passenger Airlines — 0.3%
|
|||
|
American Airlines Pass-Through Trust
|
|
|
|
|
Series 2015-2, Class A, 4.00%, 03/22/29
|
|
790
|
774,168
|
|
Series 2015-2, Class AA, 3.60%, 03/22/29
|
|
789
|
779,829
|
|
American Airlines, Inc./AAdvantage Loyalty IP Ltd.,
5.75%, 04/20/29(b)
|
|
35
|
34,809
|
|
JetBlue Airways Corp./JetBlue Loyalty LP, 9.88%,
09/20/31(b)
|
|
179
|
169,165
|
|
OneSky Flight LLC, 8.88%, 12/15/29(b)
|
|
133
|
137,285
|
|
United Airlines Holdings, Inc., 5.38%, 03/01/31
|
|
176
|
172,360
|
|
|
|
|
2,067,616
|
|
Personal Care Products — 0.1%
|
|||
|
Opal Bidco SAS
|
|
|
|
|
5.50%, 03/31/32(e)
|
EUR
|
100
|
112,814
|
|
6.50%, 03/31/32(b)
|
USD
|
400
|
400,386
|
|
Perrigo Finance Unlimited Co., 6.13%, 09/30/32
|
|
51
|
46,534
|
|
|
|
|
559,734
|
|
Pharmaceuticals — 1.7%
|
|||
|
1261229 B.C. Ltd., 10.00%, 04/15/32(b)
|
|
2,800
|
2,866,763
|
|
AbbVie, Inc.
|
|
|
|
|
4.30%, 05/14/36
|
|
2,670
|
2,522,397
|
|
4.88%, 11/14/48(g)
|
|
2,095
|
1,878,563
|
|
Amneal Pharmaceuticals LLC, 6.88%, 08/01/32(b)
|
|
105
|
108,092
|
|
Bausch Health Cos., Inc.(b)
|
|
|
|
|
4.88%, 06/01/28
|
|
83
|
76,004
|
|
11.00%, 09/30/28
|
|
355
|
362,114
|
|
Becton Dickinson & Co.
|
|
|
|
|
4.30%, 08/22/32
|
|
750
|
726,956
|
|
4.69%, 12/15/44
|
|
600
|
524,899
|
|
Bristol-Myers Squibb Co.
|
|
|
|
|
4.50%, 03/01/44
|
|
350
|
302,461
|
|
4.35%, 11/15/47
|
|
300
|
247,317
|
|
CVS Health Corp., 6.00%, 06/01/44
|
|
700
|
689,164
|
|
Dolcetto Holdco SpA, 5.63%, 07/14/32(e)
|
EUR
|
100
|
114,810
|
|
Grifols SA, 2.25%, 11/15/27(e)
|
|
100
|
114,135
|
|
Gruenenthal GmbH, 4.63%, 11/15/31(e)
|
|
100
|
113,270
|
|
Nidda Healthcare Holding GmbH(e)
|
|
|
|
|
7.00%, 02/21/30
|
|
100
|
117,542
|
|
(3-mo. EURIBOR + 3.25%), 5.23%, 10/15/32(a)
|
|
100
|
114,665
|
|
Rossini SARL, (3-mo. EURIBOR + 3.88%), 6.00%,
12/31/29(a)(e)
|
|
42
|
49,170
|
|
Takeda Pharmaceutical Co. Ltd., 2.05%, 03/31/30
|
USD
|
500
|
454,303
|
|
Teva Pharmaceutical Finance Netherlands III BV
|
|
|
|
|
3.15%, 10/01/26
|
|
163
|
161,424
|
|
6.00%, 12/01/32
|
|
200
|
205,004
|
|
|
|
|
11,749,053
|
|
Real Estate Management & Development — 0.3%
|
|||
|
Adler Financing SARL, Series 1L, (8.25% PIK), 8.25%,
12/31/28(h)
|
EUR
|
23
|
30,110
|
|
Alexandrite Lake Lux Holdings SARL, 6.75%,
07/30/30(e)
|
|
100
|
112,985
|
|
Alpha Star Holding IX Ltd., 7.00%, 08/26/28(e)
|
USD
|
200
|
189,920
|
|
Security
|
|
Par
(000)
|
Value
|
|
Real Estate Management & Development (continued)
|
|||
|
Anywhere Real Estate Group LLC/Anywhere Co-Issuer
Corp.
|
|
|
|
|
7.00%, 04/15/30(b)
|
USD
|
33
|
$ 32,882
|
|
Series AI, 7.00%, 04/15/30
|
|
158
|
157,819
|
|
Anywhere Real Estate Group LLC/Realogy Co-Issuer
Corp., 9.75%, 04/15/30(b)
|
|
183
|
194,266
|
|
CoreLogic, Inc., 4.50%, 05/01/28(b)
|
|
592
|
555,757
|
|
Cushman & Wakefield U.S. Borrower LLC, 8.88%,
09/01/31(b)
|
|
66
|
69,912
|
|
Fantasia Holdings Group Co. Ltd.(e)(k)
|
|
|
|
|
11.75%, 04/17/22
|
|
200
|
2,200
|
|
10.88%, 01/09/23
|
|
307
|
3,454
|
|
11.88%, 06/01/23
|
|
400
|
4,500
|
|
9.25%, 07/28/23
|
|
300
|
3,375
|
|
Five Point Operating Co. LP, 8.00%, 10/01/30(b)
|
|
50
|
49,882
|
|
Howard Hughes Corp.(b)
|
|
|
|
|
5.88%, 03/01/32
|
|
84
|
80,832
|
|
6.13%, 03/01/34
|
|
84
|
80,668
|
|
i-595 Express LLC, 3.31%, 12/31/31(a)
|
|
539
|
519,312
|
|
New Immo Holding SA, 4.95%, 11/14/30(e)
|
EUR
|
100
|
111,118
|
|
Vivion Investments SARL(e)
|
|
|
|
|
5.63%, 06/08/30
|
|
100
|
108,029
|
|
(6.50% Cash and 1.75% PIK), 8.25%, 08/31/28(h)
|
|
14
|
16,267
|
|
|
|
|
2,323,288
|
|
Retail REITs — 0.3%
|
|||
|
Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR
Nimbus LLC/GGSI Sellco LLC, 4.50%, 04/01/27(b)
|
USD
|
109
|
106,915
|
|
Simon Property Group LP, 6.75%, 02/01/40
|
|
1,670
|
1,872,312
|
|
|
|
|
1,979,227
|
|
Semiconductors & Semiconductor Equipment — 1.8%
|
|||
|
Amkor Technology, Inc., 5.88%, 10/01/33(b)
|
|
46
|
45,812
|
|
Broadcom, Inc.
|
|
|
|
|
4.75%, 04/15/29
|
|
2,500
|
2,527,889
|
|
4.15%, 04/15/32(b)
|
|
1,500
|
1,451,253
|
|
3.47%, 04/15/34
|
|
700
|
630,307
|
|
3.50%, 02/15/41
|
|
700
|
558,467
|
|
3.75%, 02/15/51
|
|
950
|
707,089
|
|
Intel Corp.
|
|
|
|
|
5.13%, 02/10/30
|
|
750
|
759,612
|
|
2.00%, 08/12/31(g)
|
|
1,000
|
865,266
|
|
KLA Corp., 5.00%, 03/15/49
|
|
500
|
451,015
|
|
Micron Technology, Inc., 6.05%, 11/01/35
|
|
1,500
|
1,618,564
|
|
QUALCOMM, Inc.
|
|
|
|
|
4.25%, 05/20/32
|
|
445
|
438,055
|
|
5.40%, 05/20/33
|
|
250
|
260,156
|
|
4.30%, 05/20/47
|
|
2,380
|
1,931,946
|
|
|
|
|
12,245,431
|
|
Software — 2.3%
|
|||
|
AthenaHealth Group, Inc., 6.50%, 02/15/30(b)(g)
|
|
1,050
|
985,555
|
|
Capstone Borrower, Inc., 8.00%, 06/15/30(b)
|
|
182
|
173,897
|
|
Central Parent LLC/CDK Global II LLC/CDK Financing
Co., Inc., 8.00%, 06/15/29(b)
|
|
50
|
37,159
|
|
Central Parent, Inc./CDK Global, Inc., 7.25%,
06/15/29(b)
|
|
71
|
51,100
|
|
Cloud Software Group, Inc.(b)
|
|
|
|
|
6.50%, 03/31/29
|
|
1,097
|
1,070,201
|
|
9.00%, 09/30/29
|
|
1,327
|
1,280,122
|
|
8.25%, 06/30/32
|
|
5
|
4,742
|
|
Ellucian Holdings, Inc., 6.50%, 12/01/29(b)
|
|
127
|
124,049
|
|
IPD 3 BV, 5.50%, 06/15/31(e)
|
EUR
|
100
|
108,551
|
|
Security
|
|
Par
(000)
|
Value
|
|
Software (continued)
|
|||
|
Microsoft Corp.
|
|
|
|
|
2.53%, 06/01/50
|
USD
|
1,600
|
$ 959,368
|
|
2.92%, 03/17/52(g)
|
|
3,250
|
2,090,167
|
|
OAK-Eagle Acquireco, Inc.(c)
|
|
|
|
|
07/01/33(e)
|
EUR
|
100
|
118,059
|
|
07/01/33(b)
|
USD
|
659
|
682,786
|
|
07/01/34(b)
|
|
647
|
677,339
|
|
Oracle Corp.
|
|
|
|
|
5.70%, 02/04/36
|
|
345
|
331,714
|
|
3.60%, 04/01/40(g)
|
|
3,025
|
2,193,058
|
|
3.60%, 04/01/50
|
|
400
|
241,491
|
|
3.95%, 03/25/51
|
|
600
|
380,193
|
|
5.95%, 09/26/55(g)
|
|
1,000
|
841,271
|
|
6.70%, 02/04/56
|
|
2,770
|
2,570,847
|
|
6.13%, 08/03/65
|
|
600
|
499,119
|
|
Playtika Holding Corp., 4.25%, 03/15/29(b)
|
|
7
|
5,462
|
|
SS&C Technologies, Inc., 6.50%, 06/01/32(b)
|
|
149
|
149,005
|
|
UKG, Inc., 6.88%, 02/01/31(b)
|
|
391
|
382,130
|
|
|
|
|
15,957,385
|
|
Specialty Retail — 0.1%
|
|||
|
Advance Auto Parts, Inc., 7.00%, 08/01/30(b)
|
|
101
|
102,318
|
|
Duomo Bidco SpA, (3-mo. EURIBOR + 3.25%), 5.31%,
01/15/32(a)(e)
|
EUR
|
100
|
113,686
|
|
Ferrellgas LP/Ferrellgas Finance Corp., 9.25%,
01/15/31(b)
|
USD
|
102
|
106,278
|
|
Michaels Cos., Inc., 8.50%, 03/15/33(b)
|
|
279
|
271,605
|
|
Staples, Inc., 10.75%, 09/01/29(b)
|
|
103
|
95,256
|
|
|
|
|
689,143
|
|
Technology Hardware, Storage & Peripherals — 0.5%
|
|||
|
Apple, Inc.
|
|
|
|
|
4.38%, 05/13/45
|
|
1,000
|
875,138
|
|
3.75%, 09/12/47
|
|
700
|
541,274
|
|
2.65%, 02/08/51(g)
|
|
2,280
|
1,379,854
|
|
Seagate Data Storage Technology Pte. Ltd.(b)
|
|
|
|
|
8.25%, 12/15/29
|
|
174
|
182,733
|
|
5.88%, 07/15/30
|
|
74
|
75,217
|
|
8.50%, 07/15/31
|
|
111
|
116,377
|
|
5.75%, 12/01/34
|
|
48
|
47,820
|
|
|
|
|
3,218,413
|
|
Textiles, Apparel & Luxury Goods — 0.2%
|
|||
|
Beach Acquisition Bidco LLC(b)
|
|
|
|
|
5.25%, 07/15/32
|
EUR
|
270
|
299,313
|
|
(10.00% Cash or 10.75% PIK), 10.00%, 07/15/33(h)
|
USD
|
688
|
733,044
|
|
Levi Strauss & Co.
|
|
|
|
|
4.00%, 08/15/30
|
EUR
|
100
|
114,815
|
|
3.50%, 03/01/31(b)
|
USD
|
11
|
10,072
|
|
PrestigeBidCo GmbH, (3-mo. EURIBOR + 3.75%),
5.77%, 07/01/29(a)(e)
|
EUR
|
100
|
115,440
|
|
|
|
|
1,272,684
|
|
Tobacco — 1.0%
|
|||
|
Altria Group, Inc.
|
|
|
|
|
2.45%, 02/04/32
|
USD
|
200
|
175,498
|
|
5.38%, 01/31/44
|
|
2,000
|
1,853,242
|
|
BAT Capital Corp.
|
|
|
|
|
3.22%, 09/06/26
|
|
394
|
391,936
|
|
7.08%, 08/02/43
|
|
500
|
549,589
|
|
4.54%, 08/15/47
|
|
1,500
|
1,217,899
|
|
7.08%, 08/02/53
|
|
450
|
497,188
|
|
Security
|
|
Par
(000)
|
Value
|
|
Tobacco (continued)
|
|||
|
Philip Morris International, Inc., 5.38%, 02/15/33
|
USD
|
1,000
|
$ 1,027,743
|
|
Reynolds American, Inc., 7.00%, 08/04/41
|
|
1,000
|
1,050,918
|
|
|
|
|
6,764,013
|
|
Transportation Infrastructure — 0.2%
|
|||
|
Edge Finco PLC, 8.13%, 08/15/31(e)
|
GBP
|
100
|
136,535
|
|
FedEx Corp., 4.10%, 02/01/45
|
USD
|
1,250
|
958,948
|
|
RXO, Inc., 6.38%, 05/15/31(b)
|
|
70
|
67,166
|
|
|
|
|
1,162,649
|
|
Water Utilities — 0.2%
|
|||
|
American Water Capital Corp., 4.45%, 06/01/32
|
|
1,350
|
1,328,799
|
|
Wireless Telecommunication Services — 1.5%
|
|||
|
Altice France SA(b)
|
|
|
|
|
6.88%, 10/15/30
|
|
38
|
36,119
|
|
6.50%, 10/15/31
|
|
54
|
51,156
|
|
6.50%, 04/15/32
|
|
649
|
614,965
|
|
6.88%, 07/15/32
|
|
437
|
413,852
|
|
Digicel International Finance Ltd./Difl U.S. LLC, 8.63%,
08/01/32(b)
|
|
645
|
654,544
|
|
Iliad Holding SAS
|
|
|
|
|
5.38%, 04/15/30(e)
|
EUR
|
100
|
116,940
|
|
8.50%, 04/15/31(b)
|
USD
|
200
|
209,263
|
|
7.00%, 04/15/32(b)
|
|
322
|
322,386
|
|
Rogers Communications, Inc., 7.50%, 08/15/38
|
|
2,325
|
2,651,951
|
|
Telecom Argentina SA, 9.25%, 05/28/33(b)
|
|
22
|
22,996
|
|
T-Mobile USA, Inc.
|
|
|
|
|
3.88%, 04/15/30
|
|
2,000
|
1,947,742
|
|
2.55%, 02/15/31
|
|
500
|
454,356
|
|
3.30%, 02/15/51
|
|
500
|
327,240
|
|
5.80%, 09/15/62
|
|
500
|
479,467
|
|
Turkcell Iletisim Hizmetleri A/S, 7.65%, 01/24/32(b)
|
|
200
|
203,252
|
|
Veon Midco BV, 3.38%, 11/25/27(b)
|
|
200
|
189,330
|
|
Vmed O2 U.K. Financing I PLC
|
|
|
|
|
4.25%, 01/31/31(b)
|
|
600
|
515,303
|
|
4.50%, 07/15/31(e)
|
GBP
|
100
|
110,928
|
|
6.75%, 01/15/33(b)
|
USD
|
200
|
178,689
|
|
Vodafone Group PLC, 4.88%, 06/19/49
|
|
700
|
595,264
|
|
WOM Mobile SA, (5.50% Cash and 6.25% PIK),
11.00%, 04/01/31(b)(h)
|
|
10
|
10,561
|
|
Zegona Finance PLC, 6.75%, 07/15/29(e)
|
EUR
|
90
|
107,961
|
|
|
|
|
10,214,265
|
|
Total Corporate Bonds — 67.5%
(Cost: $479,439,543)
|
471,455,245
|
||
|
Fixed Rate Loan Interests
|
|||
|
IT Services — 0.1%
|
|||
|
Clover Holdings 2 LLC, Fixed Term Loan B, 7.75%,
12/09/31
|
USD
|
809
|
761,099
|
|
Software — 0.1%
|
|||
|
Cotiviti, Inc., 2024 Fixed Term Loan B, 7.63%, 05/01/31
|
|
1,008
|
937,818
|
|
Total Fixed Rate Loan Interests — 0.2%
(Cost: $1,817,011)
|
1,698,917
|
||
|
Security
|
|
Par
(000)
|
Value
|
|
Floating Rate Loan Interests(a)
|
|||
|
Advertising Agencies — 0.0%
|
|||
|
Summer BC Holdco B SARL, 2024 USD Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 5.26%),
8.96%, 02/15/29
|
USD
|
44
|
$ 37,004
|
|
Aerospace & Defense — 0.0%
|
|||
|
Arcline FM Holdings LLC, 2025 1st Lien Term Loan,
47.62%, 06/23/30
|
|
—
(n)
|
48
|
|
Cubic Corp.
|
|
|
|
|
2025 Second Out Term Loan B, (3-mo. CME Term
SOFR at 0.75% Floor + 4.25%), 8.18%, 05/25/29
|
|
85
|
16,915
|
|
2025 Second Out Term Loan C, (3-mo. CME Term
SOFR at 0.75% Floor + 1.26%), 4.93%, 05/25/29
|
|
12
|
2,454
|
|
Kaman Corp.
|
|
|
|
|
2025 Delayed Draw Term Loan, 0.00%, 02/26/32
|
|
1
|
719
|
|
2025 Term Loan B, (1-mo. CME Term SOFR at
0.50% Floor + 2.50%), 6.17%, 02/26/32
|
|
39
|
38,862
|
|
Propulsion BC Finco SARL, 2025 Repriced Term Loan
B, (3-mo. CME Term SOFR at 0.50% Floor + 2.50%),
6.20%, 12/01/32
|
|
36
|
36,205
|
|
Signia Aerospace LLC, 2025 Term Loan, (3-mo. CME
Term SOFR at 0.50% Floor + 2.75%), 6.42%,
12/11/31
|
|
79
|
78,524
|
|
|
|
|
173,727
|
|
Automobile Components — 0.1%
|
|||
|
Champions Financing, Inc., 2024 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 4.75%), 8.42%,
02/23/29
|
|
208
|
179,777
|
|
Clarios Global LP, 2025 USD Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.75%), 6.42%,
01/28/32
|
|
181
|
180,461
|
|
Tenneco, Inc.
|
|
|
|
|
2022 Term Loan A, (3-mo. CME Term SOFR at 0.50%
Floor + 4.85%), 8.51%, 11/17/28
|
|
15
|
14,653
|
|
2022 Term Loan B, (3-mo. CME Term SOFR +
5.10%), 8.76%, 11/17/28
|
|
92
|
89,525
|
|
|
|
|
464,416
|
|
Automobiles — 0.0%
|
|||
|
MajorDrive Holdings IV LLC, Term Loan B, (3-mo. CME
Term SOFR at 0.50% Floor + 4.00%), 7.96%,
06/01/28
|
|
29
|
26,515
|
|
Broadline Retail — 0.1%
|
|||
|
Boots Group Finco LP, USD Term Loan, (3-mo. CME
Term SOFR at 0.00% Floor + 3.25%), 6.92%,
08/30/32
|
|
476
|
476,997
|
|
Building Products — 0.1%
|
|||
|
Chariot Buyer LLC, 2025 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.75%), 6.42%,
09/08/32
|
|
25
|
25,251
|
|
CP Atlas Buyer, Inc., 2025 Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 5.25%), 8.92%, 07/08/30
|
|
58
|
52,901
|
|
White Cap Supply Holdings LLC, 2024 Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 3.25%),
6.92%, 10/19/29
|
|
279
|
267,857
|
|
Wilsonart LLC, 2024 Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 4.25%), 7.95%, 08/05/31
|
|
81
|
69,999
|
|
|
|
|
416,008
|
|
Security
|
|
Par
(000)
|
Value
|
|
Capital Markets — 0.0%
|
|||
|
Ardonagh Group Finco Pty. Ltd., 2024 USD Term Loan
B, (6-mo. CME Term SOFR at 0.00% Floor + 2.75%),
6.37%, 02/15/31
|
USD
|
90
|
$ 87,923
|
|
Jupiter Borrower, Inc., Term Loan B, 03/25/33(d)(o)
|
|
65
|
64,838
|
|
OVG Business Services LLC, 2024 Term Loan B, (1-mo.
CME Term SOFR + 3.00%), 6.67%, 06/25/31
|
|
7
|
6,616
|
|
|
|
|
159,377
|
|
Chemicals — 0.1%
|
|||
|
Advancion Holdings LLC
|
|
|
|
|
2020 2nd Lien Term Loan, (3-mo. CME Term SOFR +
7.85%), 11.52%, 11/24/28
|
|
64
|
57,719
|
|
2020 USD Term Loan, (3-mo. CME Term SOFR +
4.10%), 7.77%, 11/24/27
|
|
30
|
28,603
|
|
Discovery Purchaser Corp., Term Loan, (3-mo. CME
Term SOFR at 0.50% Floor + 3.75%), 7.42%,
10/04/29
|
|
252
|
247,725
|
|
Lonza Group AG, USD Term Loan B, (3-mo. CME Term
SOFR at 0.75% Floor + 4.03%), 7.72%, 07/03/28
|
|
262
|
227,800
|
|
Olympus Water U.S. Holding Corp., 2025 USD Term
Loan B, (3-mo. CME Term SOFR at 0.00% Floor +
3.25%), 6.95%, 11/03/32
|
|
123
|
117,958
|
|
Oxea Corp., 2017 USD Term Loan B2, (3-mo. CME
Term SOFR at 0.00% Floor + 4.85%), 8.50%,
04/08/31
|
|
18
|
12,099
|
|
WR Grace Holdings LLC, 2025 Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 3.00%), 6.70%,
08/19/32
|
|
84
|
84,188
|
|
|
|
|
776,092
|
|
Commercial Services & Supplies — 0.1%
|
|||
|
Allied Universal Holdco LLC, 2025 USD Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 3.25%),
6.92%, 08/20/32
|
|
268
|
268,392
|
|
LABL, Inc., 2026 USD Interim New Money DIP Term
Loan, (3-mo. CME Term SOFR at 0.50% Floor +
6.75%), 10.38%, 12/02/26
|
|
43
|
42,714
|
|
|
|
|
311,106
|
|
Construction & Engineering — 0.1%
|
|||
|
Azuria Water Solutions, Inc.
|
|
|
|
|
2026 Delayed Draw Term Loan, 01/27/33(o)
|
|
14
|
13,461
|
|
2026 Term Loan B, (3-mo. CME Term SOFR at
0.00% Floor + 2.75%), 6.42%, 01/27/33
|
|
102
|
100,962
|
|
Brand Industrial Services, Inc., 2024 Term Loan B, (3-
mo. CME Term SOFR at 0.50% Floor + 4.50%),
8.16%, 08/01/30
|
|
612
|
524,292
|
|
|
|
|
638,715
|
|
Construction Materials — 0.0%
|
|||
|
White Cap Buyer LLC, 2026 Incremental Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 3.50%),
7.17%, 02/10/33
|
|
95
|
90,171
|
|
Consumer Discretionary — 0.0%
|
|||
|
Jupiter Buyer, Inc., 2024 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 4.00%), 7.70%,
11/01/31
|
|
38
|
37,633
|
|
Security
|
|
Par
(000)
|
Value
|
|
Consumer Staples Distribution & Retail — 0.0%
|
|||
|
BCPE Empire Holdings, Inc., 2026 10th Amendment
Term Loan, (1-mo. CME Term SOFR + 3.50%),
7.17%, 12/29/32
|
USD
|
229
|
$ 225,137
|
|
Containers & Packaging — 0.1%
|
|||
|
LABL, Inc., 2021 USD 1st Lien Term Loan, 0.00%,
10/30/28(k)
|
|
141
|
63,984
|
|
Mauser Packaging Solutions Holding Co., 2025 Term
Loan B, (3-mo. CME Term SOFR at 0.00% Floor +
3.50%), 7.16%, 04/15/30
|
|
308
|
297,109
|
|
|
|
|
361,093
|
|
Diversified Consumer Services — 0.0%
|
|||
|
Wand NewCo 3, Inc., 2025 Repriced Term Loan B, (1-
mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.17%, 01/30/31
|
|
118
|
116,403
|
|
Diversified Telecommunication Services — 0.2%
|
|||
|
Coral-U.S. Co-Borrower LLC, 2025 Term Loan B7, (3-
mo. CME Term SOFR at 0.00% Floor + 3.25%),
6.92%, 01/31/32
|
|
57
|
56,087
|
|
Level 3 Financing, Inc., 2025 Repriced Term Loan B4,
(1-mo. CME Term SOFR at 0.00% Floor + 3.25%),
6.92%, 03/29/32
|
|
457
|
456,525
|
|
Zayo Group Holdings, Inc., 2025 USD Term Loan, (1-
mo. CME Term SOFR at 0.00% Floor + 3.11% and
0.50% PIK), 7.28%, 03/11/30(h)
|
|
890
|
871,879
|
|
|
|
|
1,384,491
|
|
Electronic Equipment, Instruments & Components — 0.0%
|
|||
|
GrafTech Global Enterprises, Inc., 2024 Delayed Draw
Term Loan, 0.00%, 12/21/29
|
|
—
|
—
|
|
Financial Services — 0.0%
|
|||
|
Acuren Delaware Holdco, Inc., 2025 Term Loan, (1-mo.
CME Term SOFR at 0.00% Floor + 2.75%), 6.42%,
07/30/31
|
|
27
|
26,738
|
|
LBM Acquisition LLC, 2024 Incremental Term Loan B,
(1-mo. CME Term SOFR at 0.75% Floor + 3.75%),
7.50%, 06/06/31
|
|
170
|
135,554
|
|
Summit Acquisition, Inc., 2025 Add-on Term Loan, (1-
mo. CME Term SOFR at 0.00% Floor + 3.50%),
7.17%, 10/16/31(d)
|
|
75
|
75,280
|
|
|
|
|
237,572
|
|
Ground Transportation — 0.0%
|
|||
|
Hertz Corp.
|
|
|
|
|
2021 Term Loan B, (1-mo. CME Term SOFR +
3.61%), 7.28%, 06/30/28
|
|
68
|
49,806
|
|
2021 Term Loan C, (1-mo. CME Term SOFR +
3.61%), 7.28%, 06/30/28
|
|
13
|
9,882
|
|
|
|
|
59,688
|
|
Health Care Equipment & Supplies — 0.1%
|
|||
|
AthenaHealth Group, Inc., 2022 Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 2.75%), 6.42%,
02/15/29
|
|
142
|
138,750
|
|
Bausch & Lomb Corporation, 2025 Repriced Term Loan,
(1-mo. CME Term SOFR at 0.00% Floor + 3.75%),
7.42%, 01/15/31
|
|
367
|
368,036
|
|
Hologic Inc., 2026 USD Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 2.25%), 5.92%, 01/14/33
|
|
366
|
361,425
|
|
|
|
|
868,211
|
|
Security
|
|
Par
(000)
|
Value
|
|
Health Care Providers & Services — 0.1%
|
|||
|
LifePoint Health, Inc.
|
|
|
|
|
2024 1st Lien Term Loan B, (3-mo. CME Term SOFR
at 0.00% Floor + 3.75%), 7.42%, 05/19/31
|
USD
|
124
|
$ 123,753
|
|
2024 Incremental Term Loan B1, (3-mo. CME Term
SOFR at 0.00% Floor + 3.50%), 7.15%, 05/19/31
|
|
82
|
82,033
|
|
Quorum Health Corp., 2020 Term Loan, (3-mo. CME
Term SOFR at 1.00% Floor + 6.60% and 4.75% PIK),
15.00%, 01/28/28(d)(h)
|
|
135
|
89,881
|
|
Star Parent, Inc., Term Loan B, (3-mo. CME Term SOFR
at 0.00% Floor + 4.00%), 7.70%, 09/27/30
|
|
257
|
253,276
|
|
|
|
|
548,943
|
|
Hotels, Restaurants & Leisure — 0.0%
|
|||
|
Great Canadian Gaming Corp., 2024 Term Loan B, (3-
mo. CME Term SOFR at 0.00% Floor + 4.75%),
8.44%, 11/01/29
|
|
57
|
56,222
|
|
Household Durables — 0.0%
|
|||
|
Springs Windows Fashions LLC, 2024 FLFO Delayed
Draw Term Loan, (1-mo. CME Term SOFR at 1.00%
Floor + 4.50%), 8.17%, 12/19/29
|
|
18
|
18,115
|
|
SWF Holdings I Corp., 2024 FLFO A1 Term Loan, (1-
mo. CME Term SOFR at 1.00% Floor + 4.50%),
8.17%, 12/19/29
|
|
28
|
27,172
|
|
|
|
|
45,287
|
|
Industrial Conglomerates — 0.1%
|
|||
|
Heritage Environmental Services, Inc., 2026 Term Loan
B, (3-mo. CME Term SOFR at 0.00% Floor + 3.00%),
6.68%, 04/01/33(d)
|
|
44
|
44,000
|
|
LSF12 Crown U.S. Commercial Bidco LLC, 2026 Term
Loan B, (1-mo. CME Term SOFR at 0.00% Floor +
3.00%), 6.67%, 12/02/31
|
|
138
|
138,370
|
|
Resilience Parent LLC, 1st Lien Term Loan, (6-mo. CME
Term SOFR at 0.00% Floor + 2.50%), 6.10%,
02/28/33
|
|
159
|
158,055
|
|
|
|
|
340,425
|
|
Insurance — 0.1%
|
|||
|
Asurion LLC, 2025 Term Loan B13, (1-mo. CME Term
SOFR at 0.00% Floor + 4.25%), 7.92%, 09/19/30
|
|
152
|
150,739
|
|
Hyperion Insurance Group Ltd., 2025 Term Loan B,
(1-mo. CME Term SOFR at 0.50% Floor + 2.75%),
6.42%, 04/18/30
|
|
17
|
16,434
|
|
Jones DesLauriers Insurance Management Inc.,
2026 Repriced Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 3.00%), 6.66%, 02/02/33
|
|
117
|
113,350
|
|
Truist Insurance Holdings LLC, 2nd Lien Term Loan,
(3-mo. CME Term SOFR at 0.00% Floor + 4.75%),
8.45%, 05/06/32
|
|
166
|
164,023
|
|
|
|
|
444,546
|
|
Interactive Media & Services — 0.0%
|
|||
|
Camelot U.S. Acquisition LLC, 2025 Incremental Term
Loan B, (1-mo. CME Term SOFR at 0.00% Floor +
3.25%), 6.92%, 01/31/31
|
|
130
|
112,500
|
|
Security
|
|
Par
(000)
|
Value
|
|
IT Services — 0.0%
|
|||
|
Fortress Intermediate 3, Inc., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 3.00%), 6.67%,
06/27/31(d)
|
USD
|
61
|
$ 60,411
|
|
Neptune Bidco U.S., Inc., 2026 USD Term Loan B, (3-
mo. CME Term SOFR at 0.50% Floor + 5.10%),
8.76%, 02/03/33
|
|
97
|
92,441
|
|
|
|
|
152,852
|
|
Leisure Products — 0.0%
|
|||
|
City Football Group Ltd., 2024 Term Loan, (1-mo. CME
Term SOFR at 0.50% Floor + 3.50%), 7.17%,
07/22/30
|
|
98
|
97,588
|
|
Machinery — 0.1%
|
|||
|
CompoSecure Holdings LLC, Term Loan, (1-mo. CME
Term SOFR at 0.00% Floor + 2.25%), 5.93%,
01/14/33
|
|
177
|
176,226
|
|
GrafTech Global Enterprises, Inc., 2024 Term Loan,
(3-mo. CME Term SOFR at 2.00% Floor + 6.00%),
9.67%, 12/21/29
|
|
59
|
56,104
|
|
LSF12 Helix Parent LLC, USD Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 3.50%), 7.17%,
02/10/33
|
|
133
|
131,245
|
|
PECF USS Intermediate Holding III Corp., 2026 Term
Loan, (3-mo. CME Term SOFR at 2.00% Floor +
7.50%), 11.17%, 03/03/33
|
|
9
|
8,256
|
|
Tega MC Australia Holdings Pty. Ltd., Term Loan B,
03/25/33(d)(o)
|
|
52
|
51,610
|
|
|
|
|
423,441
|
|
Media — 0.2%
|
|||
|
Altice France SA, 2025 USD Term Loan B14, (3-mo.
CME Term SOFR at 0.00% Floor + 6.88%), 10.55%,
05/31/31
|
|
224
|
224,374
|
|
Clear Channel Outdoor Holdings, Inc., 2024 Term Loan,
(1-mo. CME Term SOFR at 0.00% Floor + 4.11%),
7.78%, 08/23/28
|
|
293
|
293,738
|
|
CMG Media Corp., 2024 Term Loan, (3-mo. CME Term
SOFR at 0.00% Floor + 3.60%), 7.30%, 06/18/29
|
|
143
|
133,924
|
|
CSC Holdings LLC, 2019 Term Loan B5, (Prime +
1.50%), 8.25%, 04/15/27
|
|
319
|
280,376
|
|
Directv Financing LLC, 2025 Term Loan B, (3-mo. CME
Term SOFR at 0.75% Floor + 5.50%), 9.17%,
02/17/31
|
|
361
|
360,277
|
|
Gray Media, Inc.
|
|
|
|
|
2021 Term Loan D, (1-mo. CME Term SOFR +
3.11%), 6.78%, 12/01/28
|
|
64
|
63,656
|
|
2024 Term Loan B, (1-mo. CME Term SOFR +
5.25%), 8.92%, 06/04/29
|
|
1
|
550
|
|
Radiate Holdco LLC, 2025 FLFO Term Loan, (1-mo.
CME Term SOFR at 0.00% Floor + 3.61% and 1.50%
PIK), 8.78%, 09/25/29(h)
|
|
344
|
305,232
|
|
|
|
|
1,662,127
|
|
Oil, Gas & Consumable Fuels — 0.0%
|
|||
|
NGL Energy Partners LP, 2026 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 3.50%), 7.18%,
03/11/33
|
|
69
|
69,000
|
|
Security
|
|
Par
(000)
|
Value
|
|
Pharmaceuticals — 0.0%
|
|||
|
Amneal Pharmaceuticals LLC, 2026 Term Loan, (1-mo.
CME Term SOFR at 0.50% Floor + 3.00%), 6.67%,
08/01/32
|
USD
|
172
|
$ 172,501
|
|
Endo Finance Holdings, Inc., 2024 1st Lien Term Loan,
(1-mo. CME Term SOFR at 0.50% Floor + 3.75%),
7.42%, 04/23/31
|
|
92
|
91,243
|
|
|
|
|
263,744
|
|
Professional Services — 0.0%
|
|||
|
Amentum Holdings, Inc., 2024 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 5.67%,
09/29/31
|
|
14
|
14,004
|
|
CoreLogic, Inc., Term Loan, (1-mo. CME Term SOFR at
0.50% Floor + 3.61%), 7.28%, 06/02/28
|
|
83
|
79,577
|
|
Galaxy U.S. Opco, Inc., Term Loan, (3-mo. CME Term
SOFR at 0.50% Floor + 2.00% and 3.25% PIK),
9.42%, 07/31/30(h)
|
|
117
|
100,556
|
|
|
|
|
194,137
|
|
Software — 0.1%
|
|||
|
McAfee Corp., 2024 USD 1st Lien Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 3.00%), 6.67%,
03/01/29
|
|
250
|
221,938
|
|
Proofpoint, Inc., 2025 Repriced Term Loan, (3-mo. CME
Term SOFR at 0.50% Floor + 3.00%), 6.70%,
08/31/28
|
|
28
|
26,929
|
|
Sabre GLBL, Inc.
|
|
|
|
|
2024 Term Loan B1, (1-mo. CME Term SOFR at
0.50% Floor + 6.10%), 9.77%, 11/15/29
|
|
45
|
35,175
|
|
2024 Term Loan B2, (1-mo. CME Term SOFR at
0.50% Floor + 6.10%), 9.77%, 11/15/29
|
|
26
|
20,556
|
|
2025 11th Amendment Term Loan B2, (1-mo. CME
Term SOFR at 0.50% Floor + 6.35%), 10.02%,
07/30/29
|
|
16
|
12,515
|
|
|
|
|
317,113
|
|
Specialty Retail — 0.0%
|
|||
|
Hunter Douglas, Inc., 2025 USD Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 3.00%), 6.70%,
01/20/32
|
|
60
|
60,049
|
|
Wireless Telecommunication Services — 0.0%
|
|||
|
Digicel International Finance Ltd., 2025 Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 5.25%),
8.92%, 08/06/32
|
|
167
|
167,196
|
|
Windstream Services LLC, 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 4.00%), 7.67%,
10/06/32
|
|
126
|
125,607
|
|
|
|
|
292,803
|
|
Total Floating Rate Loan Interests — 1.7%
(Cost: $12,328,047)
|
11,941,133
|
||
|
Foreign Agency Obligations
|
|||
|
Argentina — 0.0%
|
|
||
|
Argentine Republic Government International Bonds,
1.75%, 07/09/30(m)
|
|
81
|
68,180
|
|
Barbados — 0.0%
|
|
||
|
Barbados Government International Bonds, 8.00%,
06/26/35(b)
|
|
149
|
152,129
|
|
Security
|
|
Par
(000)
|
Value
|
|
Benin — 0.0%
|
|
||
|
Benin Government International Bonds, 7.96%,
02/13/38(b)
|
USD
|
200
|
$ 195,665
|
|
Bulgaria — 0.0%
|
|
||
|
Bulgaria Government International Bonds, Series 13Y,
5.00%, 03/05/37(e)
|
|
92
|
88,604
|
|
Canada — 0.9%
|
|
||
|
CDP Financial, Inc., 5.60%, 11/25/39(b)(g)
|
|
5,890
|
6,212,301
|
|
Cayman Islands — 0.0%
|
|
||
|
Kyrgyz Republic International Bonds, 7.75%,
06/03/30(b)
|
|
200
|
199,408
|
|
Chile — 0.0%
|
|
||
|
Chile Government International Bonds, 4.34%,
03/07/42
|
|
200
|
175,400
|
|
Costa Rica — 0.1%
|
|
||
|
Costa Rica Government International Bonds, 7.30%,
11/13/54(b)
|
|
200
|
217,000
|
|
Dominican Republic — 0.1%
|
|
||
|
Dominican Republic International Bonds(b)
|
|
|
|
|
4.50%, 01/30/30
|
|
226
|
214,700
|
|
7.05%, 02/03/31
|
|
150
|
155,100
|
|
|
|
|
369,800
|
|
Egypt — 0.0%
|
|
||
|
Egypt Government International Bonds, 7.50%,
02/16/61(b)
|
|
219
|
166,528
|
|
Gabon — 0.0%
|
|
||
|
Gabon Government International Bonds, Series 4Y,
9.50%, 02/18/29(e)
|
|
200
|
187,122
|
|
Guatemala — 0.1%
|
|
||
|
Guatemala Government Bonds(b)
|
|
|
|
|
5.38%, 04/24/32
|
|
200
|
197,840
|
|
6.60%, 06/13/36
|
|
200
|
209,340
|
|
|
|
|
407,180
|
|
Hungary — 0.1%
|
|
||
|
Hungary Government International Bonds, 5.25%,
06/16/29(b)
|
|
200
|
200,395
|
|
Magyar Export-Import Bank Zrt, 6.00%, 05/16/29(e)
|
EUR
|
100
|
121,186
|
|
|
|
|
321,581
|
|
Indonesia — 0.0%
|
|
||
|
Indonesia Government International Bonds, 3.88%,
01/15/33
|
|
100
|
112,335
|
|
Ivory Coast — 0.1%
|
|
||
|
Ivory Coast Government International Bonds
|
|
|
|
|
5.88%, 10/17/31(e)
|
|
192
|
216,486
|
|
8.08%, 04/01/36(b)
|
USD
|
200
|
203,218
|
|
|
|
|
419,704
|
|
Kenya — 0.0%
|
|
||
|
Republic of Kenya Government International Bonds,
9.75%, 02/16/31(b)
|
|
200
|
205,190
|
|
Latvia — 0.0%
|
|
||
|
Latvia Government International Bonds, 5.13%,
07/30/34(b)
|
|
200
|
200,250
|
|
Mexico — 0.0%
|
|
||
|
Mexico Government International Bonds, 5.13%,
03/19/38
|
EUR
|
100
|
111,568
|
|
Security
|
|
Par
(000)
|
Value
|
|
Morocco — 0.0%
|
|
||
|
Morocco Government International Bonds, 2.38%,
12/15/27(b)
|
USD
|
200
|
$ 192,030
|
|
Nigeria — 0.1%
|
|
||
|
Nigeria Government International Bonds, 10.38%,
12/09/34(b)
|
|
200
|
228,800
|
|
Oman — 0.0%
|
|
||
|
Oman Government International Bonds, 6.75%,
01/17/48(e)
|
|
200
|
208,554
|
|
Panama — 0.0%
|
|
||
|
Panama Government International Bonds, 6.40%,
02/14/35
|
|
200
|
207,600
|
|
Paraguay — 0.0%
|
|
||
|
Paraguay Government International Bonds, 2.74%,
01/29/33
|
|
200
|
175,800
|
|
Peru — 0.1%
|
|
||
|
Peru Government International Bonds
|
|
|
|
|
2.78%, 01/23/31
|
|
151
|
137,859
|
|
1.86%, 12/01/32
|
|
98
|
80,752
|
|
|
|
|
218,611
|
|
Poland — 0.0%
|
|
||
|
Republic of Poland Government International Bonds
|
|
|
|
|
Series 10Y, 4.88%, 10/04/33
|
|
37
|
36,920
|
|
Series 30Y, 5.50%, 04/04/53
|
|
119
|
109,416
|
|
|
|
|
146,336
|
|
Romania — 0.1%
|
|
||
|
Romanian Government International Bonds
|
|
|
|
|
5.25%, 11/25/27(b)
|
|
50
|
49,962
|
|
2.12%, 07/16/31(e)
|
EUR
|
179
|
177,567
|
|
4.63%, 03/04/33(b)
|
|
80
|
86,284
|
|
6.25%, 09/10/34(b)
|
|
145
|
169,693
|
|
6.75%, 07/11/39(b)
|
|
65
|
74,858
|
|
6.50%, 10/07/45(b)
|
|
80
|
88,335
|
|
|
|
|
646,699
|
|
Serbia — 0.0%
|
|
||
|
Serbia International Bonds, 6.00%, 06/12/34(b)
|
USD
|
200
|
200,000
|
|
South Africa — 0.1%
|
|
||
|
Republic of South Africa Government International
Bonds
|
|
|
|
|
7.95%, 11/19/54(b)
|
|
200
|
197,650
|
|
Series 30Y, 5.75%, 09/30/49
|
|
252
|
195,300
|
|
|
|
|
392,950
|
|
Turkey — 0.0%
|
|
||
|
Turkiye Government International Bonds, Series 7Y,
7.13%, 02/12/32
|
|
200
|
200,300
|
|
Uruguay — 0.0%
|
|
||
|
Oriental Republic of Uruguay, 5.25%, 09/10/60
|
|
127
|
115,179
|
|
Uzbekistan — 0.0%
|
|
||
|
Republic of Uzbekistan International Bonds, 5.38%,
05/29/27(b)
|
EUR
|
100
|
116,309
|
|
Total Foreign Agency Obligations — 1.8%
(Cost: $12,415,232)
|
12,859,113
|
||
|
Security
|
|
Par
(000)
|
Value
|
|
Municipal Bonds
|
|||
|
Arizona — 0.1%
|
|
||
|
Maricopa County Industrial Development Authority, RB,
7.38%, 10/01/29(b)
|
USD
|
890
|
$ 938,270
|
|
California — 1.6%
|
|
||
|
City of Los Angeles California, GO, Series A,
Sustainability Bonds, 5.00%, 09/01/42
|
|
2,000
|
1,907,936
|
|
Golden State Tobacco Securitization Corp., Refunding
RB
|
|
|
|
|
Class B, (SAP), 3.29%, 06/01/42
|
|
2,610
|
2,032,446
|
|
Series A-1, 3.71%, 06/01/41
|
|
1,000
|
792,243
|
|
Oxnard Union High School District, Refunding GO,
(BAM), 3.18%, 08/01/43
|
|
1,600
|
1,251,721
|
|
Regents of the University of California Medical Center
Pooled Revenue, RB, BAB, Series H, 6.55%,
05/15/48
|
|
2,500
|
2,652,553
|
|
State of California, GO, BAB, 7.55%, 04/01/39
|
|
1,500
|
1,780,609
|
|
State of California, Refunding GO, 5.13%, 03/01/38
|
|
1,000
|
1,003,584
|
|
|
|
|
11,421,092
|
|
Florida — 0.2%
|
|
||
|
State Board of Administration Finance Corp., RB,
Series A, 5.53%, 07/01/34
|
|
1,500
|
1,571,769
|
|
Georgia — 0.2%
|
|
||
|
Municipal Electric Authority of Georgia, Refunding RB,
BAB, 6.64%, 04/01/57
|
|
973
|
1,043,088
|
|
Hawaii — 0.3%
|
|
||
|
City & County Honolulu HI Wastewater System
Revenue, Refunding RB, Series A, 2.62%, 07/01/45
|
|
1,000
|
674,005
|
|
State of Hawaii, GO, Series GK, 6.15%, 10/01/38
|
|
1,000
|
1,080,892
|
|
|
|
|
1,754,897
|
|
Illinois — 0.3%
|
|
||
|
State of Illinois, GO, 5.10%, 06/01/33
|
|
1,745
|
1,777,571
|
|
Massachusetts — 0.6%
|
|
||
|
Massachusetts Educational Financing Authority, RB,
Series A, 6.17%, 07/01/50
|
|
2,500
|
2,564,746
|
|
Massachusetts Educational Financing Authority,
Refunding RB, Series A, 6.35%, 07/01/49
|
|
1,355
|
1,406,338
|
|
University of Massachusetts Building Authority,
Refunding RB, Series 3, 3.43%, 11/01/40
|
|
500
|
424,089
|
|
|
|
|
4,395,173
|
|
New Jersey — 0.3%
|
|
||
|
New Jersey Turnpike Authority, RB, BAB, Series A,
7.10%, 01/01/41
|
|
1,750
|
2,018,898
|
|
New York — 0.6%
|
|
||
|
City of New York, GO
|
|
|
|
|
Series H, 6.29%, 02/01/45
|
|
600
|
624,345
|
|
Series D-1, Sustainability Bonds, 5.09%, 10/01/49
|
|
1,000
|
933,731
|
|
New York City Municipal Water Finance Authority,
Refunding RB, BAB, 6.01%, 06/15/42
|
|
1,000
|
1,030,302
|
|
New York State Dormitory Authority, RB, BAB, Series F,
5.63%, 03/15/39
|
|
1,010
|
1,036,444
|
|
United Nations Development Corp., Refunding RB,
Series A, 6.54%, 08/01/55
|
|
850
|
897,134
|
|
|
|
|
4,521,956
|
|
Security
|
|
Par
(000)
|
Value
|
|
Texas — 0.4%
|
|
||
|
Dallas Fort Worth International Airport, Refunding RB,
2.84%, 11/01/46
|
USD
|
2,000
|
$ 1,432,308
|
|
Texas Natural Gas Securitization Finance Corp., RB,
Series 2023-1, Class A2, 5.17%, 04/01/41
|
|
1,500
|
1,519,173
|
|
|
|
|
2,951,481
|
|
Total Municipal Bonds — 4.6%
(Cost: $31,938,930)
|
32,394,195
|
||
|
Non-Agency Mortgage-Backed Securities
|
|||
|
Collateralized Mortgage Obligations — 8.9%
|
|||
|
A&D Mortgage Trust, Series 2024-NQM5, Class A1,
5.70%, 11/25/69(b)
|
|
1,211
|
1,215,544
|
|
ACRA Trust, Series 2024-NQM1, Class A1, 5.61%,
10/25/64(b)
|
|
369
|
369,621
|
|
Alternative Loan Trust
|
|
|
|
|
Series 2005-64CB, Class 1A15, 5.50%, 12/25/35
|
|
285
|
250,795
|
|
Series 2006-OA21, Class A1, (1 mo. Term SOFR +
0.30%), 3.98%, 03/20/47(a)
|
|
278
|
243,394
|
|
Series 2007-OA10, Class 2A1, (1 mo. Term SOFR +
0.61%), 4.29%, 09/25/47(a)
|
|
3,228
|
428,780
|
|
Angel Oak Mortgage Trust, Series 2024-10, Class A1,
5.35%, 10/25/69(b)
|
|
1,359
|
1,360,354
|
|
Banc of America Funding Trust, Series 2007-2,
Class 1A2, 6.00%, 03/25/37
|
|
175
|
134,766
|
|
Barclays Mortgage Loan Trust, Series 2025-NQM3,
Class A1, 5.64%, 05/25/65(a)(b)
|
|
863
|
866,485
|
|
Bravo Residential Funding Trust(b)
|
|
|
|
|
Series 2021-NQM1, Class A1, 0.94%, 02/25/49(a)
|
|
360
|
341,282
|
|
Series 2023-NQM3, Class A1, 4.85%, 09/25/62
|
|
341
|
340,985
|
|
Series 2023-NQM4, Class A1, 6.44%, 05/25/63
|
|
796
|
795,267
|
|
Series 2025-NQM1, Class A1, 5.60%, 12/25/64
|
|
1,018
|
1,021,960
|
|
Chase Home Lending Mortgage Trust, Series 2019-
ATR1, Class A12, 6.50%, 04/25/49(a)(b)
|
|
387
|
389,008
|
|
CIM Trust(b)
|
|
|
|
|
Series 2023-I1, Class A1, 6.03%, 04/25/58
|
|
813
|
810,459
|
|
Series 2023-I2, Class A1, 6.64%, 12/25/67
|
|
777
|
777,849
|
|
COLT Mortgage Loan Trust(b)
|
|
|
|
|
Series 2023-2, Class A1, 6.60%, 07/25/68
|
|
713
|
713,339
|
|
Series 2023-3, Class M1, 7.79%, 09/25/68(a)
|
|
800
|
805,574
|
|
Series 2024-6, Class A1, 5.39%, 11/25/69
|
|
951
|
952,695
|
|
Series 2024-7, Class A1, 5.54%, 12/26/69
|
|
1,114
|
1,117,076
|
|
Series 2024-INV4, Class A1, 5.61%, 05/25/69
|
|
1,004
|
1,008,710
|
|
Series 2025-11, Class M1, 5.95%, 11/25/70(a)
|
|
2,500
|
2,487,555
|
|
CSMC Trust, Series 2022-NQM5, Class A1, 5.17%,
05/25/67(a)(b)
|
|
2,143
|
2,139,066
|
|
Deephaven Residential Mortgage Trust(a)(b)
|
|
|
|
|
Series 2022-2, Class A1, 5.30%, 03/25/67
|
|
192
|
186,748
|
|
Series 2025-INV1, Class A1, 5.09%, 11/25/60
|
|
1,161
|
1,157,218
|
|
Ellington Financial Mortgage Trust(a)(b)
|
|
|
|
|
Series 2020-1, Class M1, 5.24%, 05/25/65
|
|
1,500
|
1,483,407
|
|
Series 2021-2, Class A1, 0.93%, 06/25/66
|
|
155
|
131,607
|
|
Flagstar Mortgage Trust, Series 2021-4, Class A1,
2.50%, 06/01/51(a)(b)
|
|
2,127
|
1,774,755
|
|
GCAT Trust(a)(b)
|
|
|
|
|
Series 2022-NQM3, Class A1, 4.35%, 04/25/67
|
|
942
|
938,384
|
|
Series 2024-INV4, Class A2, 5.50%, 12/25/54
|
|
752
|
750,847
|
|
GS Mortgage-Backed Securities Corp. Trust,
Series 2022-PJ2, Class A4, 2.50%, 06/25/52(a)(b)
|
|
890
|
736,392
|
|
GS Mortgage-Backed Securities Trust, Series 2021-PJ2,
Class A2, 2.50%, 11/25/51(a)(b)
|
|
787
|
653,476
|
|
Security
|
|
Par
(000)
|
Value
|
|
Collateralized Mortgage Obligations (continued)
|
|||
|
GSR Mortgage Loan Trust, Series 2007-4F, Class 3A1,
6.00%, 07/25/37
|
USD
|
70
|
$ 43,113
|
|
Homes Trust(b)
|
|
|
|
|
Series 2024-NQM2, Class A1, 5.72%, 10/25/69
|
|
450
|
452,280
|
|
Series 2025-NQM5, Class M1, 5.80%, 09/25/70(a)
|
|
697
|
691,195
|
|
JP Morgan Mortgage Trust
|
|
|
|
|
Series 2006-S3, Class 1A12, 6.50%, 08/25/36
|
|
42
|
13,397
|
|
Series 2022-DSC1, Class A1, 4.75%, 01/25/63(a)(b)
|
|
349
|
343,461
|
|
Series 2022-INV3, Class A3B, 3.00%, 09/25/52(a)(b)
|
|
622
|
539,918
|
|
Series 2023-DSC1, Class A1, 4.63%, 07/25/63(a)(b)
|
|
251
|
244,151
|
|
Series 2024-INV1, Class A3, 5.50%, 04/25/55(a)(b)
|
|
1,306
|
1,301,340
|
|
Mello Mortgage Capital Acceptance, Series 2022-INV2,
Class A3, 3.00%, 04/25/52(a)(b)
|
|
674
|
583,548
|
|
Merrill Lynch Mortgage Investors Trust, Series 2006-A3,
Class 3A1, 5.45%, 05/25/36(a)
|
|
106
|
67,358
|
|
MFA Trust(b)
|
|
|
|
|
Series 2021-NQM1, Class M1, 2.31%, 04/25/65(a)
|
|
2,750
|
2,436,649
|
|
Series 2023-NQM3, Class A1, 6.62%, 07/25/68
|
|
985
|
986,883
|
|
Mill City Mortgage Trust, Series 2023-NQM2, Class A1,
6.24%, 12/25/67(b)
|
|
1,215
|
1,210,519
|
|
OBX Trust(b)
|
|
|
|
|
Series 2022-INC3, Class A1, 3.00%, 02/25/52(a)
|
|
579
|
502,616
|
|
Series 2023-NQM5, Class A1A, 6.57%, 06/25/63
|
|
873
|
873,411
|
|
Series 2023-NQM6, Class A1, 6.52%, 07/25/63
|
|
683
|
683,560
|
|
Series 2024-NQM17, Class A1, 5.61%, 11/25/64(a)
|
|
839
|
843,030
|
|
Series 2024-NQM2, Class M1, 6.86%, 12/25/63(a)
|
|
1,500
|
1,508,340
|
|
PMT Loan Trust, Series 2024-INV1, Class A3, 5.50%,
10/25/59(a)(b)
|
|
1,547
|
1,543,028
|
|
PRKCM Trust(b)
|
|
|
|
|
Series 2023-AFC2, Class A1, 6.48%, 06/25/58
|
|
747
|
745,638
|
|
Series 2023-AFC3, Class A1, 6.58%, 09/25/58
|
|
979
|
981,384
|
|
Provident Funding Mortgage Trust, Series 2024-1,
Class A1, 5.50%, 12/25/54(a)(b)
|
|
1,210
|
1,204,318
|
|
Radian Mortgage Capital Trust, Series 2024-J2,
Class A4, 5.50%, 03/25/55(a)(b)
|
|
428
|
427,854
|
|
RCKT Mortgage Trust, Series 2022-2, Class A1, 3.00%,
02/25/52(a)(b)
|
|
863
|
749,326
|
|
Santander Mortgage Asset Receivable Trust,
Series 2025-NQM6, Class A1, 5.14%, 11/25/65(a)(b)
|
|
2,215
|
2,208,226
|
|
Sequoia Mortgage Trust, Series 2024-INV1, Class A3,
5.50%, 10/25/54(a)(b)
|
|
686
|
683,726
|
|
Spruce Hill Mortgage Loan Trust, Series 2022-SH1,
Class A1A, 4.10%, 07/25/57(b)
|
|
549
|
543,610
|
|
STAR Trust, Series 2021-1, Class M1, 2.36%,
05/25/65(a)(b)
|
|
2,050
|
1,839,699
|
|
Starwood Mortgage Residential Trust, Series 2020-3,
Class M1, 3.54%, 04/25/65(a)(b)
|
|
2,000
|
1,802,589
|
|
Towd Point Mortgage Trust, Series 2017-4, Class A1,
2.75%, 06/25/57(a)(b)
|
|
34
|
33,248
|
|
Verus Securitization Trust(b)
|
|
|
|
|
Series 2022-3, Class A1, 5.13%, 02/25/67
|
|
2,225
|
2,125,838
|
|
Series 2023-5, Class A1, 6.48%, 06/25/68
|
|
632
|
631,842
|
|
Series 2024-8, Class A1, 5.36%, 10/25/69(a)
|
|
1,271
|
1,272,625
|
|
Series 2024-R1, Class A1, 5.22%, 09/25/69(a)
|
|
1,375
|
1,378,448
|
|
Series 2025-11, Class A1, 4.91%, 11/25/70(a)
|
|
1,656
|
1,647,807
|
|
Series 2025-11, Class M1, 5.66%, 11/25/70(a)
|
|
1,600
|
1,581,268
|
|
Visio Trust, Series 2023-2, Class A1, 6.60%, 10/25/58(b)
|
|
975
|
976,318
|
|
|
|
|
62,084,959
|
|
Commercial Mortgage-Backed Securities — 3.6%
|
|||
|
3650R Commercial Mortgage Trust, Series 2021-PF1,
Class A5, 2.52%, 11/15/54
|
|
1,250
|
1,101,924
|
|
Security
|
|
Par
(000)
|
Value
|
|
Commercial Mortgage-Backed Securities (continued)
|
|||
|
Bank, Series 2021-BN35, Class C, 2.90%, 06/15/64(a)
|
USD
|
672
|
$ 566,096
|
|
Bayview Commercial Asset Trust, Series 2007-2A,
Class A1, (1 mo. Term SOFR + 0.52%), 4.20%,
07/25/37(a)(b)
|
|
433
|
406,553
|
|
BBCMS Mortgage Trust, Series 2025-C35, Class D,
4.50%, 07/15/58(b)
|
|
330
|
257,143
|
|
BFLD Commercial Mortgage Trust, Series 2024-UNIV,
Class D, (1 mo. Term SOFR + 2.69%), 6.36%,
11/15/41(a)(b)
|
|
630
|
630,197
|
|
BHMS Commercial Mortgage Trust, Series 2025-ATLS,
Class A, (1 mo. Term SOFR + 1.85%), 5.52%,
08/15/42(a)(b)
|
|
506
|
506,325
|
|
BPR Commercial Mortgage Trust, Series 2024-PARK,
Class D, 6.53%, 11/05/39(a)(b)
|
|
200
|
206,765
|
|
BRCK Trust(a)(b)
|
|
|
|
|
Series 2025-830B, Class E, 6.78%, 12/10/42
|
|
235
|
239,816
|
|
Series 2025-830B, Class F, 7.59%, 12/10/42
|
|
120
|
123,106
|
|
BX Commercial Mortgage Trust(a)(b)
|
|
|
|
|
Series 2021-CIP, Class A, (1 mo. Term SOFR +
1.04%), 4.71%, 12/15/38
|
|
512
|
512,004
|
|
Series 2022-LP2, Class A, (1 mo. Term SOFR +
1.01%), 4.69%, 02/15/39
|
|
120
|
119,677
|
|
Series 2024-MF, Class C, (1 mo. Term SOFR +
1.94%), 5.61%, 02/15/39
|
|
452
|
451,441
|
|
Series 2024-XL4, Class C, (1 mo. Term SOFR +
2.19%), 5.86%, 02/15/39
|
|
80
|
80,068
|
|
BX Trust(a)(b)
|
|
|
|
|
Series 2021-LBA, Class AJV, (1 mo. Term SOFR +
1.16%), 4.84%, 02/15/36
|
|
1,690
|
1,688,944
|
|
Series 2022 VAMF, Class A, (1 mo. Term SOFR +
0.85%), 4.52%, 01/15/39
|
|
989
|
988,715
|
|
Series 2024-BIO, Class C, (1 mo. Term SOFR +
2.64%), 6.31%, 02/15/41
|
|
240
|
237,675
|
|
Series 2024-CNYN, Class C, (1 mo. Term SOFR +
1.94%), 5.61%, 04/15/41
|
|
571
|
570,013
|
|
Cantor Commercial Real Estate Lending, Series 2019-
CF2, Class A5, 2.87%, 11/15/52
|
|
550
|
518,478
|
|
Century Plaza Towers, Series 2019-CPT, Class C,
3.00%, 11/13/39(a)(b)
|
|
250
|
224,365
|
|
CHI Commercial Mortgage Trust, Series 2025-110W,
Class D, 6.63%, 12/13/40(a)(b)
|
|
110
|
107,578
|
|
Commercial Mortgage Trust(b)
|
|
|
|
|
Series 2025-167G, Class A, 5.50%, 08/10/40
|
|
309
|
307,777
|
|
Series 2025-167G, Class B, 5.93%, 08/10/40
|
|
341
|
338,957
|
|
Series 2025-SBX, Class B, 5.55%, 08/10/41(a)
|
|
722
|
717,553
|
|
CONE Trust, Series 2024-DFW1, Class D, (1 mo. Term
SOFR + 3.04%), 6.71%, 08/15/41(a)(b)
|
|
660
|
653,697
|
|
CSMC(a)(b)
|
|
|
|
|
Series 2020-FACT, Class D, (1 mo. Term SOFR +
4.32%), 8.00%, 10/15/37
|
|
900
|
825,750
|
|
Series 2021-BHAR, Class C, (1 mo. Term SOFR +
2.11%), 5.79%, 11/15/38
|
|
300
|
296,008
|
|
CSTL Commercial Mortgage Trust(a)(b)
|
|
|
|
|
Series 2026-GATE3, Class D, 5.52%, 02/10/43
|
|
100
|
98,338
|
|
Series 2026-GATE3, Class E, 6.34%, 02/10/43
|
|
280
|
276,569
|
|
DC Trust, Series 2024-HLTN, Class C, 7.04%,
04/13/40(a)(b)
|
|
220
|
218,334
|
|
DK Trust(a)(b)
|
|
|
|
|
Series 2025-LXP, Class B, (1 mo. Term SOFR +
1.84%), 5.52%, 08/15/37
|
|
220
|
220,000
|
|
Security
|
|
Par
(000)
|
Value
|
|
Commercial Mortgage-Backed Securities (continued)
|
|||
|
DK Trust(a)(b) (continued)
|
|
|
|
|
Series 2025-LXP, Class C, (1 mo. Term SOFR +
2.24%), 5.92%, 08/15/37
|
USD
|
236
|
$ 236,000
|
|
FS Trust(a)(b)
|
|
|
|
|
Series 2026-ORL, Class B, (1 mo. Term SOFR +
1.55%), 5.22%, 02/15/41
|
|
440
|
439,175
|
|
Series 2026-ORL, Class E, (1 mo. Term SOFR +
3.25%), 6.92%, 02/15/41
|
|
150
|
149,755
|
|
GS Mortgage Securities Corp. Trust(a)(b)
|
|
|
|
|
Series 2025-800D, Class A, (1 mo. Term SOFR +
2.65%), 6.33%, 11/25/41
|
|
216
|
215,772
|
|
Series 2025-800D, Class B, (1 mo. Term SOFR +
3.45%), 7.13%, 11/25/41
|
|
400
|
399,047
|
|
GS Mortgage Securities Trust, Series 2019-GC38,
Class AAB, 3.84%, 02/10/52
|
|
527
|
523,850
|
|
Hilton USA Trust, Series 2025-NVIL, Class B, (1 mo.
Term SOFR + 2.19%), 5.86%, 07/15/42(a)(b)
|
|
218
|
218,000
|
|
JW Commercial Mortgage Trust, Series 2024-MRCO,
Class C, (1 mo. Term SOFR + 2.39%), 6.06%,
06/15/39(a)(b)
|
|
800
|
800,000
|
|
LEX Trust(a)(b)
|
|
|
|
|
Series 2026-450, Class B, (1 mo. Term SOFR +
1.70%), 5.37%, 03/15/43
|
|
900
|
893,805
|
|
Series 2026-450, Class E, (1 mo. Term SOFR +
3.70%), 7.37%, 03/15/43
|
|
330
|
326,795
|
|
LQR Trust, Series 2025-CALI, Class E, (1 mo. Term
SOFR + 3.95%), 7.62%, 01/15/43(a)
|
|
436
|
435,995
|
|
MIC Trust, Series 2023-MIC, Class B, 9.53%,
12/05/38(a)(b)
|
|
234
|
250,126
|
|
MLTI Trust, Series 2026-SF75, Class E, (1 mo. Term
SOFR + 3.25%), 6.92%, 03/15/31(a)(b)
|
|
160
|
159,103
|
|
Morgan Stanley Bank of America Merrill Lynch Trust,
Series 2015-C22, Class A4, 3.31%, 04/15/48
|
|
171
|
168,592
|
|
NCMF Trust, Series 2025-MFS, Class E, 7.53%,
06/10/33(a)(b)
|
|
370
|
372,014
|
|
PENN Commercial Mortgage Trust, Series 2025-P11,
Class A, 5.34%, 08/10/42
|
|
314
|
319,047
|
|
SELF Commercial Mortgage Trust, Series 2024-STRG,
Class D, (1 mo. Term SOFR + 2.94%), 6.61%,
11/15/34(a)(b)
|
|
189
|
188,764
|
|
SLG Office Trust(a)(b)(c)
|
|
|
|
|
Series 2026-OMA, Class E, 04/15/41
|
|
115
|
115,225
|
|
Series 2026-OMA, Class F, 04/15/41
|
|
255
|
255,485
|
|
UBS Commercial Mortgage Trust, Series 2019-C18,
Class A4, 3.04%, 12/15/52
|
|
1,200
|
1,129,773
|
|
VEGAS, Series 2024-GCS, Class D, 6.22%,
07/10/36(a)(b)
|
|
572
|
569,098
|
|
VRTX Trust, Series 2025-HQ, Class B, 5.49%,
08/05/42(a)(b)
|
|
730
|
725,953
|
|
Wells Fargo Commercial Mortgage Trust
|
|
|
|
|
Series 2016-LC25, Class A4, 3.64%, 12/15/59
|
|
1,700
|
1,691,670
|
|
Series 2024-BPRC, Class D, 7.08%, 07/15/43(b)
|
|
250
|
250,061
|
|
Series 2025-5C3, Class A3, 6.10%, 01/15/58
|
|
611
|
639,288
|
|
|
|
|
24,962,259
|
|
Total Non-Agency Mortgage-Backed Securities — 12.5%
(Cost: $89,650,264)
|
87,047,218
|
||
|
Security
|
|
Par
(000)
|
Value
|
|
Preferred Securities
|
|||
|
Capital Trusts — 6.9%(a)
|
|||
|
Automobiles — 0.3%
|
|
||
|
General Motors Financial Co., Inc., Series C, 5.70%(i)
|
USD
|
2,500
|
$ 2,451,930
|
|
Banks(i) — 1.0%
|
|
||
|
ING Groep NV, Series NC10, 4.25%
|
|
1,500
|
1,299,218
|
|
PNC Financial Services Group, Inc., Series W, 6.25%(g)
|
|
3,584
|
3,615,446
|
|
U.S. Bancorp, Series J, 5.30%(g)
|
|
1,900
|
1,889,292
|
|
|
|
|
6,803,956
|
|
Capital Markets — 0.6%
|
|
||
|
Bank of New York Mellon Corp., Series F, 4.63%(i)
|
|
2,750
|
2,738,569
|
|
State Street Corp., 4.94%, 06/01/77
|
|
1,485
|
1,288,848
|
|
|
|
|
4,027,417
|
|
Electric Utilities — 1.0%
|
|
||
|
Electricite de France SA, 3.38%(e)(i)
|
EUR
|
200
|
217,390
|
|
NextEra Energy Capital Holdings, Inc., 5.65%,
05/01/79(g)
|
USD
|
4,750
|
4,742,516
|
|
PG&E Corp., 7.38%, 03/15/55
|
|
1,723
|
1,734,052
|
|
|
|
|
6,693,958
|
|
Financial Services(i) — 3.7%
|
|
||
|
Bank of America Corp.(g)
|
|
|
|
|
Series FF, 5.88%
|
|
3,500
|
3,502,992
|
|
Series OO, 6.63%
|
|
7,650
|
7,843,124
|
|
Barclays PLC
|
|
|
|
|
4.38%
|
|
310
|
293,944
|
|
9.63%
|
|
640
|
698,083
|
|
Citigroup, Inc.
|
|
|
|
|
Series BB, 7.20%
|
|
2,500
|
2,547,668
|
|
Series FF, 6.95%
|
|
2,500
|
2,518,565
|
|
Goldman Sachs Group, Inc., Series W, 7.50%
|
|
2,500
|
2,609,923
|
|
HSBC Holdings PLC
|
|
|
|
|
4.70%
|
|
275
|
250,494
|
|
6.00%(g)
|
|
235
|
233,921
|
|
6.50%(g)
|
|
1,090
|
1,089,093
|
|
Lloyds Banking Group PLC, 6.75%
|
|
595
|
597,520
|
|
NatWest Group PLC, 8.13%
|
|
225
|
243,569
|
|
UBS Group AG(b)
|
|
|
|
|
4.88%
|
|
2,000
|
1,974,838
|
|
Series NC10, 9.25%
|
|
1,200
|
1,351,487
|
|
Series NC5, 9.25%
|
|
200
|
213,165
|
|
|
|
|
25,968,386
|
|
Independent Power and Renewable Electricity Producers(b)(i) — 0.1%
|
|
||
|
NRG Energy, Inc., 10.25%
|
|
310
|
334,403
|
|
Vistra Corp., 7.00%
|
|
141
|
141,181
|
|
|
|
|
475,584
|
|
Pharmaceuticals — 0.2%
|
|
||
|
CVS Health Corp.
|
|
|
|
|
6.75%, 12/10/54
|
|
320
|
324,014
|
|
7.00%, 03/10/55
|
|
1,305
|
1,344,917
|
|
|
|
|
1,668,931
|
|
|
48,090,162
|
||
|
Security
|
|
Shares
|
Value
|
|
Preferred Stocks — 0.0%(f)
|
|||
|
Financial Services — 0.0%
|
|
||
|
Federal National Mortgage Association, Series S,
8.25%(a)(i)
|
|
10,000
|
$ 119,000
|
|
IT Services(d) — 0.0%
|
|
||
|
Veritas Newco
|
|
|
|
|
Series G
|
|
428
|
8,132
|
|
Series G-1
|
|
296
|
5,624
|
|
|
|
|
13,756
|
|
|
132,756
|
||
|
Trust Preferred — 0.1%
|
|||
|
Banks — 0.1%
|
|
||
|
Citigroup Capital XIII, 10.30%, 10/30/40(a)(f)
|
|
29,583
|
868,261
|
|
|
868,261
|
||
|
Total Preferred Securities — 7.0%
(Cost: $48,108,595)
|
49,091,179
|
||
|
|
|
Par
(000)
|
|
|
U.S. Government Sponsored Agency Securities
|
|||
|
Agency Obligations — 0.7%
|
|
||
|
Resolution Funding Corp. Principal Strip, 0.00%,
04/15/30(l)
|
USD
|
6,055
|
5,139,344
|
|
Collateralized Mortgage Obligations — 5.7%
|
|
||
|
Fannie Mae REMICS
|
|
|
|
|
Series 2015-47, Class GL, 3.50%, 07/25/45
|
|
1,636
|
1,495,589
|
|
Series 2022-25, Class KL, 4.00%, 05/25/52
|
|
14,500
|
13,324,092
|
|
Series 2025-2, Class FG, (30-day Avg SOFR +
1.45%), 5.11%, 02/25/55(a)
|
|
291
|
293,716
|
|
Series 2025-24, Class PZ, 5.00%, 03/25/55
|
|
5,256
|
5,020,801
|
|
Series 2025-35, Class FJ, (30-day Avg SOFR +
1.60%), 5.26%, 05/25/55(a)
|
|
379
|
383,486
|
|
Series 5471, Class FM, (30-day Avg SOFR + 1.40%),
5.06%, 11/25/54(a)
|
|
1,083
|
1,089,782
|
|
Series 5499, Class FW, (30-day Avg SOFR + 1.40%),
5.06%, 02/25/55(a)
|
|
3,125
|
3,149,235
|
|
Freddie Mac REMICS
|
|
|
|
|
Series 4350, Class DY, 4.00%, 06/15/44
|
|
1,239
|
1,199,937
|
|
Series 4398, Class ZX, 4.00%, 09/15/54
|
|
12,148
|
11,185,489
|
|
Series 4549, Class TZ, 4.00%, 11/15/45
|
|
2,410
|
2,327,663
|
|
|
|
|
39,469,790
|
|
Interest Only Collateralized Mortgage Obligations — 1.7%
|
|
||
|
Fannie Mae REMICS
|
|
|
|
|
Series 2012-47, Class NI, 4.50%, 04/25/42
|
|
529
|
66,001
|
|
Series 5112, Class KI, 3.50%, 06/25/51
|
|
13,283
|
2,443,444
|
|
Ginnie Mae
|
|
|
|
|
Series 2009-116, Class KS, (1 mo. Term SOFR +
6.36%), 2.68%, 12/16/39(a)
|
|
436
|
42,430
|
|
Series 2019-151, Class IA, 3.50%, 12/20/49
|
|
25,112
|
4,625,755
|
|
Series 2020-151, Class MI, 2.50%, 10/20/50
|
|
14,823
|
2,156,215
|
|
Series 2021-175, Class IE, 4.00%, 09/20/47
|
|
12,083
|
2,489,696
|
|
|
|
|
11,823,541
|
|
Mortgage-Backed Securities(g) — 9.6%
|
|
||
|
Fannie Mae Mortgage-Backed Securities, 4.00%,
04/01/56
|
|
744
|
703,345
|
|
Freddie Mac Mortgage-Backed Securities
|
|
|
|
|
4.00%, 05/01/39
|
|
3,435
|
3,360,625
|
|
Security
|
|
Par
(000)
|
Value
|
|
Mortgage-Backed Securities (continued)
|
|
||
|
Freddie Mac Mortgage-Backed Securities (continued)
|
|
|
|
|
4.50%, 03/01/47
|
USD
|
422
|
$ 417,744
|
|
Ginnie Mae Mortgage-Backed Securities
|
|
|
|
|
5.50%, 08/15/33 - 07/20/55
|
|
8,251
|
8,339,231
|
|
6.00%, 07/20/55 - 11/20/55
|
|
2,184
|
2,247,455
|
|
6.50%, 11/20/55
|
|
484
|
507,735
|
|
Uniform Mortgage-Backed Securities
|
|
|
|
|
1.50%, 05/01/31
|
|
3,604
|
3,404,561
|
|
5.00%, 08/01/34 - 11/01/45
|
|
19,657
|
19,729,839
|
|
4.50%, 06/01/37 - 06/01/44
|
|
10,406
|
10,296,485
|
|
5.50%, 12/01/37 - 08/01/54
|
|
7,113
|
7,243,340
|
|
6.00%, 12/01/38 - 08/01/55
|
|
1,516
|
1,552,946
|
|
3.50%, 09/01/42 - 04/01/53
|
|
2,335
|
2,155,092
|
|
3.00%, 02/01/52
|
|
1,671
|
1,469,306
|
|
4.00%, 05/01/52 - 09/01/52
|
|
3,217
|
3,069,011
|
|
6.50%, 10/01/53
|
|
2,661
|
2,756,431
|
|
|
|
|
67,253,146
|
|
Total U.S. Government Sponsored Agency Securities — 17.7%
(Cost: $126,113,877)
|
123,685,821
|
||
|
U.S. Treasury Obligations
|
|||
|
U.S. Treasury Bonds(g)
|
|
|
|
|
4.13%, 08/15/44
|
|
30,400
|
27,580,875
|
|
3.00%, 11/15/45
|
|
54,500
|
41,196,465
|
|
3.13%, 05/15/48
|
|
1,900
|
1,429,824
|
|
4.63%, 05/15/54
|
|
63,500
|
60,545,761
|
|
4.75%, 05/15/55
|
|
70,000
|
68,159,766
|
|
U.S. Treasury Notes, 4.00%, 11/15/35(g)
|
|
5,000
|
4,877,344
|
|
Total U.S. Treasury Obligations — 29.2%
(Cost: $208,866,668)
|
203,790,035
|
||
|
Total Long-Term Investments — 151.0%
(Cost: $1,073,746,076)
|
1,055,401,690
|
||
|
|
|
Shares
|
|
|
Short-Term Securities
|
|||
|
Money Market Funds — 0.4%
|
|
||
|
BlackRock Liquidity Funds, T-Fund, Institutional Shares,
3.55%(p)(q)
|
|
3,086,757
|
3,086,757
|
|
Total Short-Term Securities — 0.4%
(Cost: $3,086,757)
|
3,086,757
|
||
|
Total Investments — 151.4%
(Cost: $1,076,832,833)
|
1,058,488,447
|
||
|
Liabilities in Excess of Other Assets — (51.4)%
|
(359,527,135
)
|
||
|
Net Assets — 100.0%
|
$ 698,961,312
|
||
|
(a)
|
Variable rate security. Interest rate resets periodically. The rate shown is the effective
interest rate as of period end. Security description also includes the reference rate
and
spread if published and available.
|
|
(b)
|
Security exempt from registration pursuant to Rule 144A under the Securities Act of
1933,
as amended. These securities may be resold in transactions exempt from registration
to
qualified institutional investors.
|
|
(c)
|
When-issued security.
|
|
(d)
|
Security is valued using significant unobservable inputs and is classified as Level
3 in the
fair value hierarchy.
|
|
(e)
|
This security may be resold to qualified foreign investors and foreign institutional
buyers
under Regulation S of the Securities Act of 1933.
|
|
(f)
|
Non-income producing security.
|
|
(g)
|
All or a portion of the security has been pledged as collateral in connection with
outstanding reverse repurchase agreements.
|
|
(h)
|
Payment-in-kind security which may pay interest/dividends in additional par/shares
and/or in cash. Rates shown are the current rate and possible payment rates.
|
|
(i)
|
Perpetual security with no stated maturity date.
|
|
(j)
|
Convertible security.
|
|
(k)
|
Issuer filed for bankruptcy and/or is in default.
|
|
(l)
|
Zero-coupon bond.
|
|
(m)
|
Step coupon security. Coupon rate will either increase (step-up bond) or decrease
(step-
down bond) at regular intervals until maturity. Interest rate shown reflects the rate
currently in effect.
|
|
(n)
|
Rounds to less than 1,000.
|
|
(o)
|
Represents an unsettled loan commitment at period end. Certain details associated
with
this purchase are not known prior to the settlement date, including coupon rate.
|
|
(p)
|
Affiliate of the Trust.
|
|
(q)
|
Annualized 7-day yield as of period end.
|
|
Affiliated Issuer
|
Value at
12/31/25
|
Purchases
at Cost
|
Proceeds
from Sales
|
Net
Realized
Gain (Loss)
|
Change in
Unrealized
Appreciation
(Depreciation)
|
Value at
03/31/26
|
Shares
Held at
03/31/26
|
Income
|
Capital Gain
Distributions
from
Underlying
Funds
|
|
BlackRock Liquidity Funds, T-Fund, Institutional Shares
|
$ 1,210,830
|
$ 1,875,927
(a)
|
$ —
|
$ —
|
$ —
|
$ 3,086,757
|
3,086,757
|
$ 49,040
|
$ —
|
|
(a)
|
Represents net amount purchased (sold).
|
|
Counterparty
|
Interest
Rate
|
Trade
Date
|
Maturity
Date(a)
|
Face Value
|
Face Value
Including
Accrued Interest
|
Type of Non-Cash Underlying
Collateral
|
Remaining
Contractual Maturity
of the Agreements(a)
|
|
U.S. Bancorp Investments, Inc.
|
3.56
%(b)
|
04/07/25
|
Open
|
$ 551,375
|
$ 573,442
|
Corporate Bonds
|
Open/Demand
|
|
HSBC Bank PLC
|
3.70
(b)
|
06/16/25
|
Open
|
3,869,257
|
3,996,034
|
Corporate Bonds
|
Open/Demand
|
|
BNP Paribas SA
|
3.75
(b)
|
10/08/25
|
Open
|
1,498,625
|
1,527,398
|
U.S. Treasury Obligations
|
Open/Demand
|
|
BNP Paribas SA
|
3.75
(b)
|
10/08/25
|
Open
|
43,123,125
|
43,951,616
|
U.S. Treasury Obligations
|
Open/Demand
|
|
BNP Paribas SA
|
3.68
(b)
|
01/15/26
|
Open
|
69,452,000
|
70,002,137
|
U.S. Treasury Obligations
|
Open/Demand
|
|
BNP Paribas SA
|
3.75
(b)
|
01/15/26
|
Open
|
28,690,000
|
28,917,257
|
U.S. Treasury Obligations
|
Open/Demand
|
|
BNP Paribas SA
|
3.75
(b)
|
01/15/26
|
Open
|
62,230,000
|
62,722,931
|
U.S. Treasury Obligations
|
Open/Demand
|
|
Goldman Sachs & Co. LLC
|
3.60
(b)
|
01/21/26
|
Open
|
99,260
|
99,955
|
Corporate Bonds
|
Open/Demand
|
|
Goldman Sachs & Co. LLC
|
3.70
(b)
|
01/21/26
|
Open
|
372,500
|
375,180
|
Corporate Bonds
|
Open/Demand
|
|
BNP Paribas SA
|
3.62
(b)
|
01/28/26
|
Open
|
105,300
|
105,967
|
Corporate Bonds
|
Open/Demand
|
|
BNP Paribas SA
|
3.64
(b)
|
01/28/26
|
Open
|
472,000
|
475,007
|
Corporate Bonds
|
Open/Demand
|
|
BNP Paribas SA
|
3.64
(b)
|
01/28/26
|
Open
|
571,504
|
575,144
|
Corporate Bonds
|
Open/Demand
|
|
BNP Paribas SA
|
3.65
(b)
|
01/28/26
|
Open
|
133,225
|
134,076
|
Corporate Bonds
|
Open/Demand
|
|
BNP Paribas SA
|
3.67
(b)
|
01/28/26
|
Open
|
3,085,040
|
3,104,854
|
Capital Trusts
|
Open/Demand
|
|
BNP Paribas SA
|
3.70
(b)
|
01/28/26
|
Open
|
1,202,250
|
1,210,035
|
Capital Trusts
|
Open/Demand
|
|
BNP Paribas SA
|
3.70
(b)
|
01/28/26
|
Open
|
1,368,977
|
1,377,842
|
Corporate Bonds
|
Open/Demand
|
|
BNP Paribas SA
|
3.70
(b)
|
01/28/26
|
Open
|
211,420
|
212,789
|
Corporate Bonds
|
Open/Demand
|
|
HSBC Securities (USA), Inc.
|
3.77
(b)
|
01/30/26
|
Open
|
4,377,687
|
4,405,652
|
Corporate Bonds
|
Open/Demand
|
|
Morgan Stanley & Co. LLC
|
(0.75
)
|
02/12/26
|
04/08/26
|
40,488
|
40,487
|
Corporate Bonds
|
Up to 30 Days
|
|
Morgan Stanley & Co. LLC
|
0.00
|
02/12/26
|
04/08/26
|
17,843
|
17,842
|
Corporate Bonds
|
Up to 30 Days
|
|
Morgan Stanley & Co. LLC
|
0.25
|
02/12/26
|
04/08/26
|
75,288
|
75,313
|
Corporate Bonds
|
Up to 30 Days
|
|
Morgan Stanley & Co. LLC
|
1.85
|
02/12/26
|
04/08/26
|
312,503
|
313,273
|
Corporate Bonds
|
Up to 30 Days
|
|
Morgan Stanley & Co. LLC
|
3.00
|
02/12/26
|
04/08/26
|
155,750
|
156,373
|
Corporate Bonds
|
Up to 30 Days
|
|
Morgan Stanley & Co. LLC
|
3.25
|
02/12/26
|
04/08/26
|
49,680
|
49,895
|
Corporate Bonds
|
Up to 30 Days
|
|
Morgan Stanley & Co. LLC
|
3.65
|
02/12/26
|
04/08/26
|
199,744
|
200,716
|
Corporate Bonds
|
Up to 30 Days
|
|
Morgan Stanley & Co. LLC
|
3.75
|
02/12/26
|
04/08/26
|
2,077,025
|
2,087,410
|
Corporate Bonds
|
Up to 30 Days
|
|
HSBC Securities (USA), Inc.
|
3.77
(b)
|
02/12/26
|
Open
|
4,150,300
|
4,171,162
|
Corporate Bonds
|
Open/Demand
|
|
Canadian Imperial Bank of Commerce
|
3.78
|
03/11/26
|
04/13/26
|
10,711,786
|
10,734,280
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Deutsche Bank Securities, Inc.
|
3.78
|
03/11/26
|
04/13/26
|
6,449,099
|
6,462,642
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Deutsche Bank Securities, Inc.
|
3.78
|
03/11/26
|
04/13/26
|
3,309,363
|
3,316,312
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Deutsche Bank Securities, Inc.
|
3.78
|
03/11/26
|
04/13/26
|
3,591,689
|
3,599,232
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
3,283,365
|
3,290,260
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
1,353,930
|
1,356,773
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
1,207,868
|
1,210,404
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
315,220
|
315,882
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
409,611
|
410,471
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
443,083
|
444,014
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Counterparty
|
Interest
Rate
|
Trade
Date
|
Maturity
Date(a)
|
Face Value
|
Face Value
Including
Accrued Interest
|
Type of Non-Cash Underlying
Collateral
|
Remaining
Contractual Maturity
of the Agreements(a)
|
|
Wells Fargo Securities, LLC
|
3.78
%
|
03/11/26
|
04/13/26
|
$ 115,959
|
$ 116,203
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
237,266
|
237,765
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
173,758
|
174,123
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
510,272
|
511,344
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
1,575,026
|
1,578,333
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
688,698
|
690,144
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
113,461
|
113,700
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
1,438,808
|
1,441,829
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
143,820
|
144,122
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
1,218,084
|
1,220,642
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
1,057,307
|
1,059,528
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
1,010,293
|
1,012,415
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
1,378,898
|
1,381,793
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
1,070,005
|
1,072,252
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
628,579
|
629,899
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
731,196
|
732,731
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
775,614
|
777,243
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
1,750,937
|
1,754,614
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
883,242
|
885,096
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
1,917,617
|
1,921,644
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
319,083
|
319,753
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
183,822
|
184,208
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
146,409
|
146,717
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
820,065
|
821,787
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
858,145
|
859,947
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
2,680,534
|
2,686,163
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
1,366,041
|
1,368,910
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
1,048,699
|
1,050,901
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
371,201
|
371,980
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
491,983
|
493,016
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
430,746
|
431,651
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Counterparty
|
Interest
Rate
|
Trade
Date
|
Maturity
Date(a)
|
Face Value
|
Face Value
Including
Accrued Interest
|
Type of Non-Cash Underlying
Collateral
|
Remaining
Contractual Maturity
of the Agreements(a)
|
|
Wells Fargo Securities, LLC
|
3.78
%
|
03/11/26
|
04/13/26
|
$ 713,199
|
$ 714,697
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
760,545
|
762,142
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
3.78
|
03/11/26
|
04/13/26
|
16,307
|
16,341
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Barclays Bank PLC
|
3.70
|
03/12/26
|
04/09/26
|
224,371
|
224,832
|
Capital Trusts
|
Up to 30 Days
|
|
Barclays Bank PLC
|
3.70
|
03/12/26
|
04/09/26
|
1,049,070
|
1,051,227
|
Capital Trusts
|
Up to 30 Days
|
|
Barclays Bank PLC
|
3.70
|
03/12/26
|
04/09/26
|
122,535
|
122,787
|
Capital Trusts
|
Up to 30 Days
|
|
Barclays Bank PLC
|
3.70
|
03/12/26
|
04/09/26
|
823,750
|
825,443
|
Corporate Bonds
|
Up to 30 Days
|
|
Barclays Bank PLC
|
3.70
|
03/12/26
|
04/09/26
|
946,250
|
948,195
|
Corporate Bonds
|
Up to 30 Days
|
|
Barclays Bank PLC
|
3.70
|
03/12/26
|
04/09/26
|
1,134,187
|
1,136,519
|
Corporate Bonds
|
Up to 30 Days
|
|
Barclays Bank PLC
|
3.74
|
03/12/26
|
04/09/26
|
3,052,500
|
3,058,842
|
Foreign Agency Obligations
|
Up to 30 Days
|
|
Barclays Bank PLC
|
3.74
|
03/12/26
|
04/09/26
|
2,977,500
|
2,983,687
|
Corporate Bonds
|
Up to 30 Days
|
|
Barclays Bank PLC
|
3.74
|
03/12/26
|
04/09/26
|
3,843,750
|
3,851,736
|
Corporate Bonds
|
Up to 30 Days
|
|
Barclays Bank PLC
|
3.74
|
03/12/26
|
04/09/26
|
1,301,250
|
1,303,954
|
Corporate Bonds
|
Up to 30 Days
|
|
Barclays Bank PLC
|
3.74
|
03/12/26
|
04/09/26
|
562,781
|
563,951
|
Corporate Bonds
|
Up to 30 Days
|
|
Barclays Bank PLC
|
3.74
|
03/12/26
|
04/09/26
|
3,673,744
|
3,681,377
|
Corporate Bonds
|
Up to 30 Days
|
|
Barclays Bank PLC
|
3.74
|
03/12/26
|
04/09/26
|
2,381,250
|
2,386,198
|
Corporate Bonds
|
Up to 30 Days
|
|
Barclays Bank PLC
|
3.74
|
03/12/26
|
04/09/26
|
4,482,812
|
4,492,127
|
Capital Trusts
|
Up to 30 Days
|
|
Barclays Capital, Inc.
|
3.00
|
03/12/26
|
04/09/26
|
85,150
|
85,292
|
Corporate Bonds
|
Up to 30 Days
|
|
Barclays Capital, Inc.
|
3.70
|
03/12/26
|
04/09/26
|
81,690
|
81,858
|
Capital Trusts
|
Up to 30 Days
|
|
Barclays Capital, Inc.
|
3.74
|
03/12/26
|
04/09/26
|
3,780,000
|
3,787,854
|
Corporate Bonds
|
Up to 30 Days
|
|
Barclays Capital, Inc.
|
3.74
|
03/12/26
|
04/09/26
|
2,140,187
|
2,144,634
|
Corporate Bonds
|
Up to 30 Days
|
|
Barclays Capital, Inc.
|
3.74
|
03/12/26
|
04/09/26
|
3,192,987
|
3,199,622
|
Corporate Bonds
|
Up to 30 Days
|
|
BNP Paribas SA
|
3.73
(b)
|
03/16/26
|
Open
|
4,968,750
|
4,976,921
|
U.S. Treasury Obligations
|
Open/Demand
|
|
BNP Paribas SA
|
3.79
(b)
|
03/16/26
|
Open
|
2,808,750
|
2,813,481
|
Corporate Bonds
|
Open/Demand
|
|
BNP Paribas SA
|
3.79
(b)
|
03/16/26
|
Open
|
2,970,000
|
2,975,003
|
Corporate Bonds
|
Open/Demand
|
|
BNP Paribas SA
|
3.79
(b)
|
03/16/26
|
Open
|
2,966,250
|
2,971,246
|
Corporate Bonds
|
Open/Demand
|
|
TD Securities (USA) LLC
|
3.83
(b)
|
03/16/26
|
Open
|
120,071
|
120,276
|
Corporate Bonds
|
Open/Demand
|
|
J.P. Morgan Securities LLC
|
3.55
|
03/20/26
|
05/01/26
|
255,278
|
255,580
|
Corporate Bonds
|
31 - 90 Days
|
|
J.P. Morgan Securities LLC
|
3.60
|
03/20/26
|
05/01/26
|
113,220
|
113,356
|
Corporate Bonds
|
31 - 90 Days
|
|
J.P. Morgan Securities LLC
|
3.65
|
03/20/26
|
05/01/26
|
146,750
|
146,929
|
Corporate Bonds
|
31 - 90 Days
|
|
J.P. Morgan Securities LLC
|
3.68
|
03/20/26
|
05/01/26
|
817,500
|
818,503
|
Corporate Bonds
|
31 - 90 Days
|
|
J.P. Morgan Securities LLC
|
3.70
|
03/20/26
|
05/01/26
|
1,812,175
|
1,814,410
|
Corporate Bonds
|
31 - 90 Days
|
|
J.P. Morgan Securities LLC
|
3.75
|
03/20/26
|
05/01/26
|
818,887
|
819,911
|
Corporate Bonds
|
31 - 90 Days
|
|
J.P. Morgan Securities LLC
|
3.75
|
03/20/26
|
05/01/26
|
2,374,435
|
2,377,403
|
Corporate Bonds
|
31 - 90 Days
|
|
J.P. Morgan Securities LLC
|
3.75
|
03/20/26
|
05/01/26
|
1,328,100
|
1,329,760
|
Corporate Bonds
|
31 - 90 Days
|
|
J.P. Morgan Securities LLC
|
3.75
|
03/20/26
|
05/01/26
|
2,686,200
|
2,689,558
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
2.90
|
03/20/26
|
06/03/26
|
359,800
|
360,148
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.20
|
03/20/26
|
06/03/26
|
48,098
|
48,149
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.40
|
03/20/26
|
06/03/26
|
84,083
|
84,178
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.40
|
03/20/26
|
06/03/26
|
151,225
|
151,396
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.40
|
03/20/26
|
06/03/26
|
518,265
|
518,852
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.50
|
03/20/26
|
06/03/26
|
535,289
|
535,914
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.50
|
03/20/26
|
06/03/26
|
90,750
|
90,856
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.50
|
03/20/26
|
06/03/26
|
732,000
|
732,854
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.53
|
03/20/26
|
06/03/26
|
262,485
|
262,794
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.55
|
03/20/26
|
06/03/26
|
746,812
|
747,696
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.60
|
03/20/26
|
06/03/26
|
68,175
|
68,257
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.60
|
03/20/26
|
06/03/26
|
67,640
|
67,721
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.60
|
03/20/26
|
06/03/26
|
142,311
|
142,482
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.60
|
03/20/26
|
06/03/26
|
108,941
|
109,072
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.60
|
03/20/26
|
06/03/26
|
64,188
|
64,265
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.60
|
03/20/26
|
06/03/26
|
1,468
|
1,469
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.60
|
03/20/26
|
06/03/26
|
311,330
|
311,704
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.60
|
03/20/26
|
06/03/26
|
48,825
|
48,884
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.60
|
03/20/26
|
06/03/26
|
505,400
|
506,006
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.60
|
03/20/26
|
06/03/26
|
113,685
|
113,821
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.60
|
03/20/26
|
06/03/26
|
276,687
|
277,019
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.60
|
03/20/26
|
06/03/26
|
964,425
|
965,582
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.65
|
03/20/26
|
06/03/26
|
1,986,562
|
1,988,979
|
Corporate Bonds
|
31 - 90 Days
|
|
Counterparty
|
Interest
Rate
|
Trade
Date
|
Maturity
Date(a)
|
Face Value
|
Face Value
Including
Accrued Interest
|
Type of Non-Cash Underlying
Collateral
|
Remaining
Contractual Maturity
of the Agreements(a)
|
|
BofA Securities, Inc.
|
3.65
%
|
03/20/26
|
06/03/26
|
$ 186,038
|
$ 186,264
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.65
|
03/20/26
|
06/03/26
|
633,420
|
634,191
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.65
|
03/20/26
|
06/03/26
|
36,836
|
36,881
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.65
|
03/20/26
|
06/03/26
|
118,690
|
118,834
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.65
|
03/20/26
|
06/03/26
|
264,356
|
264,678
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.70
|
03/20/26
|
06/03/26
|
245,640
|
245,943
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.70
|
03/20/26
|
06/03/26
|
162,893
|
163,093
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.70
|
03/20/26
|
06/03/26
|
2,895,000
|
2,898,570
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.70
|
03/20/26
|
06/03/26
|
406,410
|
406,911
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.70
|
03/20/26
|
06/03/26
|
149,750
|
149,935
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.70
|
03/20/26
|
06/03/26
|
58,135
|
58,207
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.70
|
03/20/26
|
06/03/26
|
3,835,000
|
3,839,730
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.70
|
03/20/26
|
06/03/26
|
1,650,625
|
1,652,661
|
Capital Trusts
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.70
|
03/20/26
|
06/03/26
|
6,874
|
6,882
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.70
|
03/20/26
|
06/03/26
|
2,825,280
|
2,828,765
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.70
|
03/20/26
|
06/03/26
|
54,180
|
54,247
|
Corporate Bonds
|
31 - 90 Days
|
|
BofA Securities, Inc.
|
3.75
|
03/20/26
|
06/03/26
|
173,738
|
173,955
|
Corporate Bonds
|
31 - 90 Days
|
|
Nomura Securities International, Inc.
|
3.65
(b)
|
03/30/26
|
Open
|
587,126
|
587,245
|
Corporate Bonds
|
Open/Demand
|
|
Nomura Securities International, Inc.
|
3.67
(b)
|
03/30/26
|
Open
|
291,550
|
291,609
|
Corporate Bonds
|
Open/Demand
|
|
Nomura Securities International, Inc.
|
3.67
(b)
|
03/30/26
|
Open
|
972,500
|
972,698
|
Corporate Bonds
|
Open/Demand
|
|
|
|
|
|
$ 370,977,414
|
$ 373,625,559
|
|
|
|
(a)
|
Certain agreements have no stated maturity and can be terminated by either party at
any time.
|
|
(b)
|
Variable rate security. Rate as of period end and maturity is the date the principal
owed can be recovered through demand.
|
|
Description
|
Number of
Contracts
|
Expiration
Date
|
Notional
Amount (000)
|
Value/
Unrealized
Appreciation
(Depreciation)
|
|
Long Contracts
|
|
|
|
|
|
2-Year U.S. Treasury Note
|
665
|
06/30/26
|
$ 137,967
|
$ (667,178
)
|
|
5-Year U.S. Treasury Note
|
254
|
06/30/26
|
27,476
|
(357,096
)
|
|
|
|
|
|
(1,024,274
)
|
|
Short Contracts
|
|
|
|
|
|
10-Year U.S. Treasury Note
|
128
|
06/18/26
|
14,206
|
295,513
|
|
10-Year U.S. Ultra Long Treasury Note
|
200
|
06/18/26
|
22,688
|
425,474
|
|
U.S. Long Bond
|
106
|
06/18/26
|
12,044
|
361,222
|
|
Ultra U.S. Treasury Bond
|
14
|
06/18/26
|
1,628
|
65,603
|
|
|
|
|
|
1,147,812
|
|
|
|
|
|
$ 123,538
|
|
Currency Purchased
|
Currency Sold
|
Counterparty
|
Settlement Date
|
Unrealized
Appreciation
(Depreciation)
|
||
|
USD
|
120,737
|
EUR
|
103,021
|
JPMorgan Chase Bank N.A.
|
04/16/26
|
$ 1,581
|
|
USD
|
121,518
|
EUR
|
103,683
|
JPMorgan Chase Bank N.A.
|
04/16/26
|
1,597
|
|
USD
|
116,821
|
EUR
|
99,679
|
Morgan Stanley & Co. International PLC
|
04/16/26
|
1,531
|
|
USD
|
127,729
|
EUR
|
108,982
|
Morgan Stanley & Co. International PLC
|
04/16/26
|
1,679
|
|
USD
|
214,990
|
EUR
|
183,443
|
Morgan Stanley & Co. International PLC
|
04/16/26
|
2,817
|
|
USD
|
462,066
|
EUR
|
394,247
|
Morgan Stanley & Co. International PLC
|
04/16/26
|
6,074
|
|
USD
|
93,714
|
EUR
|
79,939
|
State Street Bank and Trust Co.
|
04/16/26
|
1,255
|
|
USD
|
677,351
|
GBP
|
510,000
|
State Street Bank and Trust Co.
|
06/17/26
|
2,467
|
|
|
|
|
|
|
|
19,001
|
|
Currency
Purchased
|
Currency Sold
|
Counterparty
|
Settlement Date
|
Unrealized
Appreciation
(Depreciation)
|
||
|
EUR
|
722
|
USD
|
847
|
Canadian Imperial Bank of Commerce
|
04/16/26
|
$ (11
)
|
|
USD
|
10,189,616
|
EUR
|
8,833,000
|
Barclays Bank PLC
|
06/17/26
|
(55,487
)
|
|
|
|
|
|
|
|
(55,498
)
|
|
|
$ (36,497
)
|
|||||
|
Reference Obligation/Index
|
Financing
Rate Paid
by the Trust
|
Payment
Frequency
|
Termination
Date
|
Notional
Amount (000)
|
Value
|
Upfront
Premium
Paid
(Received)
|
Unrealized
Appreciation
(Depreciation)
|
|
|
CDX.NA.IG.45.V1
|
1.00
%
|
Quarterly
|
12/20/30
|
USD
|
7,965
|
$ (143,983
)
|
$ (166,456
)
|
$ 22,473
|
|
Reference Obligation/Index
|
Financing
Rate Received
by the Trust
|
Payment
Frequency
|
Termination
Date
|
Credit
Rating
|
Notional
Amount (000)
|
Value
|
Upfront
Premium
Paid
(Received)
|
Unrealized
Appreciation
(Depreciation)
|
|
|
CDX.NA.HY.46.V1
|
5.00
%
|
Quarterly
|
06/20/31
|
B
|
USD
|
7,940
|
$ 394,152
|
$ 319,558
|
$ 74,594
|
|
Reference Obligation/Index
|
Financing
Rate Received
by the Trust
|
Payment
Frequency
|
Counterparty
|
Termination
Date
|
Credit
Rating(a)
|
Notional
Amount (000)(b)
|
Value
|
Upfront
Premium
Paid
(Received)
|
Unrealized
Appreciation
(Depreciation)
|
|
|
CMA CGM SA
|
5.00
%
|
Quarterly
|
Morgan Stanley & Co.
International PLC
|
06/20/27
|
BB+
|
EUR
|
20
|
$ 1,245
|
$ 1,200
|
$ 45
|
|
Adler Real Estate AG
|
5.00
|
Quarterly
|
Bank of America N.A.
|
12/20/27
|
N/R
|
EUR
|
5
|
277
|
(358
)
|
635
|
|
Adler Real Estate AG
|
5.00
|
Quarterly
|
Barclays Bank PLC
|
12/20/27
|
N/R
|
EUR
|
3
|
166
|
(198
)
|
364
|
|
Adler Real Estate AG
|
5.00
|
Quarterly
|
Barclays Bank PLC
|
12/20/27
|
N/R
|
EUR
|
9
|
468
|
(556
)
|
1,024
|
|
Adler Real Estate AG
|
5.00
|
Quarterly
|
Citibank N.A.
|
12/20/27
|
N/R
|
EUR
|
3
|
136
|
(165
)
|
301
|
|
Adler Real Estate AG
|
5.00
|
Quarterly
|
JPMorgan Chase Bank N.A.
|
12/20/27
|
N/R
|
EUR
|
6
|
284
|
(381
)
|
665
|
|
Adler Real Estate AG
|
5.00
|
Quarterly
|
Morgan Stanley & Co.
International PLC
|
12/20/27
|
N/R
|
EUR
|
4
|
206
|
(264
)
|
470
|
|
Altice France SA
|
5.00
|
Quarterly
|
JPMorgan Chase Bank N.A.
|
12/20/27
|
CCC+
|
EUR
|
10
|
503
|
412
|
91
|
|
Altice France SA
|
5.00
|
Quarterly
|
JPMorgan Chase Bank N.A.
|
12/20/27
|
CCC+
|
EUR
|
9
|
453
|
429
|
24
|
|
Altice France SA
|
5.00
|
Quarterly
|
Morgan Stanley & Co.
International PLC
|
12/20/27
|
CCC+
|
EUR
|
4
|
201
|
152
|
49
|
|
Virgin Media Finance PLC
|
5.00
|
Quarterly
|
JPMorgan Chase Bank N.A.
|
12/20/28
|
B-
|
EUR
|
8
|
484
|
659
|
(175
)
|
|
iTraxx.XO.42.V3 20-35%
|
5.00
|
Quarterly
|
BNP Paribas SA
|
12/20/29
|
CCC
|
EUR
|
18
|
2,177
|
2,306
|
(129
)
|
|
Faurecia SE
|
5.00
|
Quarterly
|
JPMorgan Chase Bank N.A.
|
12/20/30
|
BB-
|
EUR
|
13
|
1,246
|
1,197
|
49
|
|
|
|
|
|
|
|
|
|
$ 7,846
|
$ 4,433
|
$ 3,413
|
|
(a)
|
Using the rating of the issuer or the underlying securities of the index, as applicable,
provided by S&P Global Ratings.
|
|
(b)
|
The maximum potential amount the Trust may pay should a negative credit event take
place as defined under the terms of the agreement.
|
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Assets
|
|
|
|
|
|
Investments
|
|
|
|
|
|
Long-Term Investments
|
|
|
|
|
|
Asset-Backed Securities
|
$ —
|
$ 61,319,118
|
$ —
|
$ 61,319,118
|
|
Common Stocks
|
—
|
94,340
|
25,376
|
119,716
|
|
Corporate Bonds
|
—
|
471,455,245
|
—
|
471,455,245
|
|
Fixed Rate Loan Interests
|
—
|
1,698,917
|
—
|
1,698,917
|
|
Floating Rate Loan Interests
|
—
|
11,555,113
|
386,020
|
11,941,133
|
|
Foreign Agency Obligations
|
—
|
12,859,113
|
—
|
12,859,113
|
|
Municipal Bonds
|
—
|
32,394,195
|
—
|
32,394,195
|
|
Non-Agency Mortgage-Backed Securities
|
—
|
87,047,218
|
—
|
87,047,218
|
|
Preferred Securities
|
|
|
|
|
|
Capital Trusts
|
—
|
48,090,162
|
—
|
48,090,162
|
|
Preferred Stocks
|
—
|
119,000
|
13,756
|
132,756
|
|
Trust Preferred
|
868,261
|
—
|
—
|
868,261
|
|
U.S. Government Sponsored Agency Securities
|
—
|
123,685,821
|
—
|
123,685,821
|
|
U.S. Treasury Obligations
|
—
|
203,790,035
|
—
|
203,790,035
|
|
Short-Term Securities
|
|
|
|
|
|
Money Market Funds
|
3,086,757
|
—
|
—
|
3,086,757
|
|
Unfunded Floating Rate Loan Interests(a)
|
—
|
17
|
—
|
17
|
|
Liabilities
|
|
|
|
|
|
Unfunded Floating Rate Loan Interests(a)
|
—
|
(2,071
)
|
—
|
(2,071
)
|
|
|
$3,955,018
|
$1,054,106,223
|
$425,152
|
$1,058,486,393
|
|
Derivative Financial Instruments(b)
|
|
|
|
|
|
Assets
|
|
|
|
|
|
Credit Contracts
|
$ —
|
$ 100,784
|
$ —
|
$ 100,784
|
|
Foreign Currency Exchange Contracts
|
—
|
19,001
|
—
|
19,001
|
|
Interest Rate Contracts
|
1,147,812
|
—
|
—
|
1,147,812
|
|
Liabilities
|
|
|
|
|
|
Credit Contracts
|
—
|
(304
)
|
—
|
(304
)
|
|
Foreign Currency Exchange Contracts
|
—
|
(55,498
)
|
—
|
(55,498
)
|
|
Interest Rate Contracts
|
(1,024,274
)
|
—
|
—
|
(1,024,274
)
|
|
|
$123,538
|
$63,983
|
$—
|
$187,521
|
|
(a)
|
Unfunded floating rate loan interests are valued at the unrealized appreciation (depreciation)
on the commitment.
|
|
(b)
|
Derivative financial instruments are swaps, futures contracts and forward foreign
currency exchange contracts. Swaps, futures contracts and forward foreign currency
exchange
contracts are valued at the unrealized appreciation (depreciation) on the instrument.
|
|
Currency Abbreviation
|
|
|
EUR
|
Euro
|
|
GBP
|
British Pound
|
|
USD
|
United States Dollar
|
|
Portfolio Abbreviation
|
|
|
ABS
|
Asset-Backed Security
|
|
BAB
|
Build America Bond
|
|
BAM
|
Build America Mutual Assurance Co.
|
|
CLO
|
Collateralized Loan Obligation
|
|
CME
|
Chicago Mercantile Exchange
|
|
CMT
|
Constant Maturity Treasury
|
|
CVR
|
Contingent Value Right
|
|
DAC
|
Designated Activity Company
|
|
DIP
|
Debtor-In-Possession
|
|
EURIBOR
|
Euro Interbank Offered Rate
|
|
GMTN
|
Global Medium-Term Note
|
|
GO
|
General Obligation Bonds
|
|
PIK
|
Payment-in-Kind
|
|
RB
|
Revenue Bonds
|
|
REIT
|
Real Estate Investment Trust
|
|
SAP
|
Subject to Appropriations
|
|
SOFR
|
Secured Overnight Financing Rate
|