|
2026 Quarterly Report
(Unaudited)
|
|
BlackRock Debt Strategies Fund, Inc. (DSU)
|
|
Not FDIC Insured • May Lose Value • No Bank Guarantee
|
|
Security
|
|
Par
(000)
|
Value
|
|
Asset-Backed Securities
|
|||
|
Bryant Park Funding Ltd., Series 2024-23A, Class D1,
(3-mo. CME Term SOFR + 3.85%), 7.50%,
05/15/37(a)(b)
|
USD
|
1,000
|
$ 997,234
|
|
Eaton Vance CLO Ltd., Series 2019-1A, Class D1R2,
(3-mo. CME Term SOFR + 3.35%), 7.02%,
07/15/37(a)(b)
|
|
2,000
|
1,961,179
|
|
Golub Capital Partners CLO Ltd., Series 2024-74A,
Class D1, (3-mo. CME Term SOFR + 3.20%), 6.87%,
07/25/37(a)(b)
|
|
1,500
|
1,470,834
|
|
Madison Park Funding LXIX Ltd., Series 2024-69A,
Class D1, (3-mo. CME Term SOFR + 3.35%), 7.02%,
07/25/37(a)(b)
|
|
1,090
|
1,071,081
|
|
Oaktree CLO Ltd., Series 2024-26A, Class D1, (3-mo.
CME Term SOFR + 3.45%), 7.12%, 04/20/37(a)(b)
|
|
1,500
|
1,501,324
|
|
Sycamore Tree CLO Ltd., Series 2023-3A, Class D1R,
(3-mo. CME Term SOFR + 4.25%), 7.92%,
04/20/37(a)(b)
|
|
1,590
|
1,569,432
|
|
Symphony CLO Ltd., Series 2023-40A, Class D1R, (3-
mo. CME Term SOFR + 2.65%), 6.32%, 01/05/38(a)(b)
|
|
1,000
|
991,171
|
|
Total Asset-Backed Securities — 1.5%
(Cost: $9,680,000)
|
9,562,255
|
||
|
|
|
Shares
|
|
|
Common Stocks
|
|||
|
Entertainment — 0.1%
|
|
||
|
Learfield Communications LLC, (Acquired 09/06/23,
Cost: $31,736)(c)(d)(e)
|
|
2,526
|
282,912
|
|
Financial Services — 0.1%
|
|
||
|
Aimbridge Acquisition Co., Inc.(c)(d)
|
|
6,043
|
271,966
|
|
Ground Transportation — 0.0%
|
|
||
|
Sirva BGRS Holdings, Inc.(d)
|
|
1,661
|
1,060
|
|
Hotels, Restaurants & Leisure — 0.0%
|
|
||
|
Fortrex Equity(c)(d)
|
|
5,805
|
168,345
|
|
Industrial Conglomerates(d) — 0.0%
|
|
||
|
Ameriforge Group, Inc.(c)
|
|
1,664
|
—
|
|
SVP Singer
|
|
15,566
|
70,047
|
|
|
|
|
70,047
|
|
IT Services — 0.1%
|
|
||
|
Travelport LLC(c)(d)
|
|
230
|
236,829
|
|
Machinery — 0.0%
|
|
||
|
United Site Services, Inc.(c)(d)
|
|
24,463
|
177,357
|
|
Semiconductors & Semiconductor Equipment — 0.0%
|
|
||
|
Maxeon Solar Technologies Ltd.(d)
|
|
2
|
3
|
|
Trading Companies & Distributors — 0.0%
|
|
||
|
TMK Hawk Midco Corp.(c)(d)
|
|
24,798
|
173,584
|
|
Security
|
|
Shares
|
Value
|
|
Wireless Telecommunication Services — 0.0%
|
|
||
|
Altice France Lux 3(d)
|
|
11,960
|
$ 199,065
|
|
Total Common Stocks — 0.3%
(Cost: $2,387,334)
|
1,581,168
|
||
|
|
|
Par
(000)
|
|
|
Corporate Bonds
|
|||
|
Advertising Agencies — 0.4%
|
|||
|
Clear Channel Outdoor Holdings, Inc.(b)
|
|
|
|
|
7.75%, 04/15/28
|
USD
|
188
|
188,892
|
|
7.50%, 06/01/29
|
|
303
|
304,279
|
|
7.88%, 04/01/30
|
|
505
|
528,484
|
|
7.13%, 02/15/31
|
|
243
|
254,590
|
|
7.50%, 03/15/33
|
|
513
|
543,266
|
|
CMG Media Corp., 8.88%, 06/18/29(b)
|
|
63
|
54,474
|
|
Lamar Media Corp.
|
|
|
|
|
4.00%, 02/15/30
|
|
15
|
14,314
|
|
5.38%, 11/01/33(b)
|
|
67
|
65,574
|
|
Neptune Bidco U.S., Inc.(b)
|
|
|
|
|
9.29%, 04/15/29
|
|
152
|
152,422
|
|
10.38%, 05/15/31
|
|
98
|
98,883
|
|
9.50%, 02/15/33
|
|
136
|
131,952
|
|
Outfront Media Capital LLC/Outfront Media Capital
Corp.(b)
|
|
|
|
|
5.00%, 08/15/27
|
|
24
|
23,943
|
|
4.25%, 01/15/29
|
|
80
|
77,120
|
|
4.63%, 03/15/30
|
|
106
|
102,272
|
|
7.38%, 02/15/31
|
|
140
|
145,980
|
|
Stagwell Global LLC, 5.63%, 08/15/29(b)
|
|
32
|
30,466
|
|
|
|
|
2,716,911
|
|
Aerospace & Defense — 0.7%
|
|||
|
AAR Escrow Issuer LLC, 6.75%, 03/15/29(b)
|
|
80
|
81,424
|
|
ATI, Inc.
|
|
|
|
|
5.88%, 12/01/27
|
|
93
|
92,982
|
|
4.88%, 10/01/29
|
|
32
|
31,573
|
|
7.25%, 08/15/30
|
|
103
|
106,808
|
|
5.13%, 10/01/31
|
|
88
|
86,942
|
|
Bombardier, Inc.(b)
|
|
|
|
|
8.75%, 11/15/30
|
|
44
|
46,796
|
|
7.25%, 07/01/31
|
|
55
|
57,635
|
|
7.00%, 06/01/32
|
|
62
|
64,346
|
|
6.75%, 06/15/33
|
|
376
|
388,298
|
|
Efesto Bidco SpA Efesto U.S. LLC, Series XR, 7.50%,
02/15/32(b)
|
|
644
|
640,736
|
|
Goat Holdco LLC, 6.75%, 02/01/32(b)
|
|
67
|
67,411
|
|
Moog, Inc.(b)
|
|
|
|
|
4.25%, 12/15/27
|
|
6
|
5,997
|
|
5.50%, 10/15/34
|
|
47
|
47,148
|
|
TransDigm, Inc.(b)
|
|
|
|
|
6.75%, 08/15/28
|
|
129
|
130,566
|
|
6.38%, 03/01/29
|
|
134
|
136,501
|
|
6.63%, 03/01/32
|
|
245
|
249,868
|
|
6.00%, 01/15/33
|
|
382
|
381,786
|
|
6.38%, 05/31/33
|
|
437
|
434,670
|
|
Security
|
|
Par
(000)
|
Value
|
|
Aerospace & Defense (continued)
|
|||
|
TransDigm, Inc.(b) (continued)
|
|
|
|
|
6.25%, 01/31/34
|
USD
|
61
|
$ 61,673
|
|
6.75%, 01/31/34
|
|
776
|
786,169
|
|
6.13%, 07/31/34
|
|
435
|
427,841
|
|
|
|
|
4,327,170
|
|
Air Freight & Logistics(b) — 0.0%
|
|||
|
Rand Parent LLC, 8.50%, 02/15/30
|
|
57
|
58,512
|
|
Stonepeak Nile Parent LLC, 7.25%, 03/15/32
|
|
30
|
31,203
|
|
|
|
|
89,715
|
|
Automobile Components — 0.3%
|
|||
|
American Axle & Manufacturing, Inc.(b)
|
|
|
|
|
6.38%, 10/15/32
|
|
48
|
47,508
|
|
7.75%, 10/15/33
|
|
50
|
48,675
|
|
Clarios Global LP/Clarios U.S. Finance Co.(b)
|
|
|
|
|
6.75%, 05/15/28
|
|
85
|
85,827
|
|
6.75%, 02/15/30
|
|
280
|
286,300
|
|
4.75%, 06/15/31
|
EUR
|
100
|
113,489
|
|
6.75%, 09/15/32
|
USD
|
420
|
423,360
|
|
Cyprium Corp./Cyprium Holdings Luxembourg SARL,
6.13%, 04/15/31(b)
|
|
75
|
73,936
|
|
Dana, Inc.
|
|
|
|
|
4.25%, 09/01/30
|
|
11
|
10,407
|
|
4.50%, 02/15/32
|
|
18
|
16,798
|
|
Garrett Motion Holdings, Inc./Garrett LX I SARL, 7.75%,
05/31/32(b)
|
|
90
|
93,188
|
|
Goodyear Tire & Rubber Co.
|
|
|
|
|
5.00%, 07/15/29
|
|
26
|
24,604
|
|
6.63%, 07/15/30
|
|
34
|
33,248
|
|
Qnity Electronics, Inc.(b)
|
|
|
|
|
5.75%, 08/15/32
|
|
158
|
158,188
|
|
6.25%, 08/15/33
|
|
68
|
68,757
|
|
Tenneco, Inc., 8.00%, 11/17/28(b)
|
|
226
|
225,196
|
|
|
|
|
1,709,481
|
|
Automobiles — 0.3%
|
|||
|
Allison Transmission, Inc., 5.88%, 12/01/33(b)
|
|
111
|
110,319
|
|
Asbury Automotive Group, Inc.
|
|
|
|
|
4.50%, 03/01/28
|
|
39
|
38,298
|
|
5.00%, 02/15/32(b)
|
|
25
|
23,675
|
|
Carvana Co.(b)(f)
|
|
|
|
|
(11.00% Cash or 13.00% PIK), 9.00%, 06/01/30
|
|
170
|
177,019
|
|
(9.00% PIK), 9.00%, 06/01/31
|
|
602
|
650,924
|
|
Cougar JV Subsidiary LLC, 8.00%, 05/15/32(b)
|
|
50
|
51,703
|
|
Group 1 Automotive, Inc., 6.38%, 01/15/30(b)
|
|
34
|
34,228
|
|
Ken Garff Automotive LLC, 4.88%, 09/15/28(b)
|
|
25
|
24,559
|
|
LCM Investments Holdings II LLC(b)
|
|
|
|
|
4.88%, 05/01/29
|
|
72
|
70,064
|
|
8.25%, 08/01/31
|
|
48
|
49,860
|
|
Lithia Motors, Inc., 5.50%, 10/01/30(b)
|
|
55
|
53,896
|
|
Nissan Motor Acceptance Co. LLC, 6.13%, 09/30/30(b)
|
|
142
|
136,468
|
|
Nissan Motor Co. Ltd.(b)
|
|
|
|
|
7.75%, 07/17/32
|
|
200
|
202,519
|
|
6.38%, 07/17/33
|
EUR
|
100
|
115,000
|
|
8.13%, 07/17/35
|
USD
|
200
|
205,768
|
|
Rivian Holdings LLC/Rivian LLC/Rivian Automotive LLC,
10.00%, 01/15/31(b)
|
|
73
|
70,932
|
|
Venture Holdings Trust, 12.00%, 07/01/49(c)(g)
|
|
5,150
|
1
|
|
|
|
|
2,015,233
|
|
Banks — 0.0%
|
|||
|
Banco Espirito Santo SA
|
|
|
|
|
2.63%, 05/08/17(g)(h)
|
EUR
|
100
|
25,429
|
|
Security
|
|
Par
(000)
|
Value
|
|
Banks (continued)
|
|||
|
Banco Espirito Santo SA (continued)
|
|
|
|
|
4.75%, 01/15/22(a)(g)
|
EUR
|
200
|
$ 50,857
|
|
4.00%, 01/21/22
|
|
100
|
25,429
|
|
Walker & Dunlop, Inc., 6.63%, 04/01/33(b)
|
USD
|
37
|
36,174
|
|
|
|
|
137,889
|
|
Biotechnology(b) — 0.1%
|
|||
|
BioMarin Pharmaceutical, Inc., 5.50%, 02/15/34
|
|
200
|
196,912
|
|
Genmab AS/Genmab Finance LLC, 7.25%, 12/15/33
|
|
200
|
209,346
|
|
|
|
|
406,258
|
|
Building Materials(b) — 0.5%
|
|||
|
AmeriTex HoldCo Intermediate LLC, 7.63%, 08/15/33
|
|
70
|
72,257
|
|
Builders FirstSource, Inc.
|
|
|
|
|
6.38%, 03/01/34
|
|
38
|
37,514
|
|
6.75%, 05/15/35
|
|
161
|
160,846
|
|
EMRLD Borrower LP/Emerald Co-Issuer, Inc.
|
|
|
|
|
6.63%, 12/15/30
|
|
487
|
495,308
|
|
6.75%, 07/15/31
|
|
296
|
304,423
|
|
Jeld-Wen, Inc.
|
|
|
|
|
4.88%, 12/15/27
|
|
58
|
39,326
|
|
7.00%, 09/01/32
|
|
18
|
8,392
|
|
New Enterprise Stone & Lime Co., Inc.
|
|
|
|
|
5.25%, 07/15/28
|
|
26
|
25,615
|
|
9.75%, 07/15/28
|
|
59
|
58,940
|
|
Quikrete Holdings, Inc.
|
|
|
|
|
6.38%, 03/01/32
|
|
483
|
489,763
|
|
6.75%, 03/01/33
|
|
209
|
212,269
|
|
Smyrna Ready Mix Concrete LLC, 6.00%, 11/01/28
|
|
9
|
8,932
|
|
Standard Building Solutions, Inc.
|
|
|
|
|
6.50%, 08/15/32
|
|
219
|
219,113
|
|
6.25%, 08/01/33
|
|
293
|
289,705
|
|
5.88%, 03/15/34
|
|
104
|
100,276
|
|
Standard Industries, Inc.
|
|
|
|
|
4.38%, 07/15/30
|
|
141
|
132,902
|
|
3.38%, 01/15/31
|
|
34
|
30,477
|
|
Wilsonart LLC, 11.00%, 08/15/32
|
|
177
|
128,304
|
|
|
|
|
2,814,362
|
|
Building Products(b) — 0.2%
|
|||
|
LBM Acquisition LLC, 9.50%, 06/15/31
|
|
85
|
73,988
|
|
QXO Building Products, Inc., 6.75%, 04/30/32
|
|
452
|
461,036
|
|
White Cap Supply Holdings LLC, 7.38%, 11/15/30
|
|
855
|
829,344
|
|
|
|
|
1,364,368
|
|
Capital Markets — 0.2%
|
|||
|
Apollo Debt Solutions BDC
|
|
|
|
|
5.88%, 08/30/30
|
|
51
|
50,198
|
|
6.70%, 07/29/31
|
|
22
|
22,257
|
|
6.55%, 03/15/32
|
|
36
|
36,138
|
|
ARES Strategic Income Fund, 5.80%, 09/09/30(b)
|
|
60
|
58,343
|
|
Bain Capital Specialty Finance, Inc., 5.95%, 03/15/30
|
|
15
|
14,522
|
|
Blue Owl Capital Corp., 6.20%, 07/15/30
|
|
70
|
68,988
|
|
Compass Group Diversified Holdings LLC, 5.25%,
04/15/29(b)
|
|
67
|
62,223
|
|
Focus Financial Partners LLC, 6.75%, 09/15/31(b)
|
|
238
|
236,369
|
|
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
|
|
|
|
|
5.25%, 05/15/27
|
|
170
|
166,584
|
|
9.75%, 01/15/29
|
|
42
|
41,292
|
|
4.38%, 02/01/29
|
|
31
|
26,454
|
|
10.00%, 11/15/29(b)
|
|
138
|
135,951
|
|
Jane Street Group/JSG Finance, Inc.(b)
|
|
|
|
|
6.13%, 11/01/32
|
|
24
|
23,733
|
|
6.75%, 05/01/33
|
|
184
|
186,681
|
|
Security
|
|
Par
(000)
|
Value
|
|
Capital Markets (continued)
|
|||
|
Osaic Holdings, Inc.(b)
|
|
|
|
|
6.75%, 08/01/32
|
USD
|
120
|
$ 120,015
|
|
8.00%, 08/01/33
|
|
195
|
192,505
|
|
|
|
|
1,442,253
|
|
Chemicals — 0.9%
|
|||
|
Advancion Sciences, Inc., (9.25% Cash or 10.00% PIK),
9.25%, 11/01/26(b)(f)
|
|
105
|
85,031
|
|
Celanese U.S. Holdings LLC
|
|
|
|
|
7.00%, 02/15/31
|
|
10
|
10,268
|
|
6.75%, 04/15/33
|
|
47
|
48,220
|
|
7.38%, 02/15/34
|
|
108
|
110,649
|
|
Chemours Co.(b)
|
|
|
|
|
5.75%, 11/15/28
|
|
288
|
285,156
|
|
4.63%, 11/15/29
|
|
141
|
132,224
|
|
7.88%, 03/15/34
|
|
75
|
74,978
|
|
Element Solutions, Inc., 3.88%, 09/01/28(b)
|
|
590
|
574,443
|
|
FMC Corp.
|
|
|
|
|
3.45%, 10/01/29
|
|
67
|
59,847
|
|
4.50%, 10/01/49
|
|
21
|
12,995
|
|
6.38%, 05/18/53
|
|
15
|
11,302
|
|
Herens Holdco SARL, 4.75%, 05/15/28(b)
|
|
200
|
168,080
|
|
Illuminate Buyer LLC/Illuminate Holdings IV, Inc., 9.00%,
07/01/28(b)
|
|
17
|
17,014
|
|
Ingevity Corp., 3.88%, 11/01/28(b)
|
|
23
|
22,079
|
|
Methanex U.S. Operations, Inc., 6.25%, 03/15/32(b)
|
|
51
|
52,176
|
|
Minerals Technologies, Inc., 5.00%, 07/01/28(b)
|
|
55
|
54,068
|
|
Olympus Water U.S. Holding Corp.(b)
|
|
|
|
|
6.25%, 10/01/29
|
|
200
|
189,008
|
|
7.25%, 06/15/31
|
|
600
|
586,022
|
|
7.25%, 02/15/33
|
|
684
|
652,605
|
|
Perimeter Holdings LLC, 6.25%, 01/15/34(b)
|
|
196
|
192,227
|
|
SK Invictus Intermediate II SARL, 5.00%, 10/30/29(b)
|
|
185
|
180,443
|
|
Solstice Advanced Materials, Inc., 5.63%, 09/30/33(b)
|
|
196
|
193,264
|
|
WR Grace Holdings LLC(b)
|
|
|
|
|
5.63%, 08/15/29
|
|
1,323
|
1,216,789
|
|
7.38%, 03/01/31
|
|
128
|
128,330
|
|
6.63%, 08/15/32
|
|
190
|
185,128
|
|
7.00%, 08/01/33
|
|
112
|
108,772
|
|
|
|
|
5,351,118
|
|
Commercial Services & Supplies — 1.5%
|
|||
|
ADT Security Corp.(b)
|
|
|
|
|
4.88%, 07/15/32
|
|
55
|
51,374
|
|
5.88%, 10/15/33
|
|
172
|
166,584
|
|
Albion Financing 1 SARL/Aggreko Holdings, Inc., 7.00%,
05/21/30(b)
|
|
200
|
204,407
|
|
Allied Universal Holdco LLC, 7.88%, 02/15/31(b)
|
|
1,191
|
1,228,177
|
|
Allied Universal Holdco LLC/Allied Universal Finance
Corp.(b)
|
|
|
|
|
6.00%, 06/01/29
|
|
600
|
579,766
|
|
6.88%, 06/15/30
|
|
537
|
544,347
|
|
Allied Universal Holdco LLC/Allied Universal Finance
Corp./Atlas Luxco 4 SARL, 4.63%, 06/01/28(b)
|
|
400
|
390,688
|
|
APi Group DE, Inc.(b)
|
|
|
|
|
4.13%, 07/15/29
|
|
67
|
63,803
|
|
4.75%, 10/15/29
|
|
32
|
30,972
|
|
Belron U.K. Finance PLC, 5.75%, 10/15/29(b)
|
|
200
|
201,263
|
|
Brink’s Co.(b)
|
|
|
|
|
6.50%, 06/15/29
|
|
39
|
39,604
|
|
6.75%, 06/15/32
|
|
159
|
160,942
|
|
Clarivate Science Holdings Corp.(b)
|
|
|
|
|
3.88%, 07/01/28
|
|
124
|
117,021
|
|
Security
|
|
Par
(000)
|
Value
|
|
Commercial Services & Supplies (continued)
|
|||
|
Clarivate Science Holdings Corp.(b) (continued)
|
|
|
|
|
4.88%, 07/01/29
|
USD
|
291
|
$ 252,497
|
|
CompoSecure Holdings LLC, 5.63%, 02/01/33(b)
|
|
291
|
284,293
|
|
Deluxe Corp., 8.13%, 09/15/29(b)
|
|
31
|
32,181
|
|
FTAI Aviation Investors LLC(b)
|
|
|
|
|
5.50%, 05/01/28
|
|
248
|
247,912
|
|
7.88%, 12/01/30
|
|
140
|
146,187
|
|
7.00%, 05/01/31
|
|
537
|
550,495
|
|
7.00%, 06/15/32
|
|
477
|
488,980
|
|
5.88%, 04/15/33
|
|
128
|
125,234
|
|
Garda World Security Corp.(b)
|
|
|
|
|
7.75%, 02/15/28
|
|
123
|
125,124
|
|
6.00%, 06/01/29
|
|
16
|
15,229
|
|
8.25%, 08/01/32
|
|
224
|
221,656
|
|
8.38%, 11/15/32
|
|
873
|
873,593
|
|
Herc Holdings, Inc.(b)
|
|
|
|
|
7.00%, 06/15/30
|
|
120
|
123,044
|
|
5.75%, 03/15/31
|
|
55
|
54,168
|
|
7.25%, 06/15/33
|
|
208
|
213,146
|
|
6.00%, 03/15/34
|
|
57
|
55,105
|
|
Hertz Corp., 12.63%, 07/15/29(b)
|
|
36
|
31,588
|
|
RR Donnelley & Sons Co., 9.50%, 08/01/29(b)
|
|
262
|
265,197
|
|
Service Corp. International
|
|
|
|
|
3.38%, 08/15/30
|
|
2
|
1,845
|
|
4.00%, 05/15/31
|
|
49
|
45,675
|
|
5.75%, 10/15/32
|
|
389
|
388,252
|
|
Sotheby’s/Bidfair Holdings, Inc., 5.88%, 06/01/29(b)
|
|
202
|
189,649
|
|
United Rentals North America, Inc., 5.38%, 11/15/33(b)
|
|
200
|
194,476
|
|
Veritiv Operating Co., 10.50%, 11/30/30(b)
|
|
41
|
42,609
|
|
Wand NewCo 3, Inc., 7.63%, 01/30/32(b)
|
|
225
|
230,062
|
|
Williams Scotsman, Inc.(b)
|
|
|
|
|
6.63%, 06/15/29
|
|
71
|
71,798
|
|
6.63%, 04/15/30
|
|
188
|
190,968
|
|
7.38%, 10/01/31
|
|
169
|
173,289
|
|
|
|
|
9,413,200
|
|
Communications Equipment — 0.0%
|
|||
|
Viavi Solutions, Inc., 3.75%, 10/01/29(b)
|
|
31
|
29,085
|
|
Construction & Engineering(b) — 0.2%
|
|||
|
AECOM, 6.00%, 08/01/33
|
|
277
|
276,696
|
|
Arcosa, Inc.
|
|
|
|
|
4.38%, 04/15/29
|
|
97
|
93,580
|
|
6.88%, 08/15/32
|
|
125
|
128,080
|
|
Brand Industrial Services, Inc., 10.38%, 08/01/30
|
|
586
|
535,553
|
|
Dycom Industries, Inc., 4.50%, 04/15/29
|
|
37
|
35,890
|
|
Weekley Homes LLC/Weekley Finance Corp., 6.75%,
01/15/34
|
|
62
|
59,380
|
|
|
|
|
1,129,179
|
|
Consumer Finance — 0.4%
|
|||
|
Block, Inc.
|
|
|
|
|
2.75%, 06/01/26
|
|
63
|
62,713
|
|
5.63%, 08/15/30(b)
|
|
108
|
107,403
|
|
6.50%, 05/15/32
|
|
192
|
193,753
|
|
6.00%, 08/15/33(b)
|
|
228
|
224,234
|
|
ION Platform Finance U.S., Inc., 7.88%, 09/30/32(b)
|
|
295
|
228,338
|
|
Navient Corp.
|
|
|
|
|
9.38%, 07/25/30
|
|
3
|
2,925
|
|
7.88%, 06/15/32
|
|
46
|
41,011
|
|
OneMain Finance Corp.
|
|
|
|
|
6.63%, 05/15/29
|
|
82
|
82,080
|
|
5.38%, 11/15/29
|
|
70
|
67,502
|
|
7.88%, 03/15/30
|
|
72
|
74,302
|
|
Security
|
|
Par
(000)
|
Value
|
|
Consumer Finance (continued)
|
|||
|
OneMain Finance Corp. (continued)
|
|
|
|
|
6.13%, 05/15/30
|
USD
|
104
|
$ 101,695
|
|
4.00%, 09/15/30
|
|
95
|
85,793
|
|
7.50%, 05/15/31
|
|
12
|
12,064
|
|
7.13%, 11/15/31
|
|
48
|
47,558
|
|
6.75%, 03/15/32
|
|
160
|
155,238
|
|
7.13%, 09/15/32
|
|
36
|
35,455
|
|
6.50%, 03/15/33
|
|
287
|
274,351
|
|
6.75%, 09/15/33
|
|
231
|
221,495
|
|
Shift4 Payments, Inc.(b)
|
|
|
|
|
6.75%, 08/15/32
|
|
380
|
373,671
|
|
5.50%, 05/15/33
|
EUR
|
100
|
108,968
|
|
WEX, Inc., 6.50%, 03/15/33(b)
|
USD
|
176
|
172,405
|
|
|
|
|
2,672,954
|
|
Consumer Staples Distribution & Retail(b) — 0.2%
|
|||
|
Albertsons Cos, Inc.
|
|
|
|
|
5.50%, 03/31/31
|
|
60
|
59,320
|
|
6.25%, 03/15/33
|
|
228
|
229,529
|
|
5.75%, 03/31/34
|
|
211
|
206,431
|
|
Albertsons Cos., Inc., 5.63%, 03/31/32
|
|
53
|
52,179
|
|
Boots Group Finco LP, 5.38%, 08/31/32
|
EUR
|
115
|
132,248
|
|
KeHE Distributors LLC/KeHE Finance Corp./NextWave
Distribution, Inc., 9.00%, 02/15/29
|
USD
|
39
|
40,601
|
|
Performance Food Group, Inc.
|
|
|
|
|
4.25%, 08/01/29
|
|
41
|
39,383
|
|
6.13%, 09/15/32
|
|
152
|
152,281
|
|
5.63%, 03/01/34
|
|
220
|
212,188
|
|
U.S. Foods, Inc., 7.25%, 01/15/32
|
|
40
|
41,391
|
|
United Natural Foods, Inc., 6.75%, 10/15/28
|
|
50
|
50,040
|
|
|
|
|
1,215,591
|
|
Containers & Packaging — 0.6%
|
|||
|
Ardagh Group SA
|
|
|
|
|
9.50%, 12/01/30(b)
|
|
173
|
181,715
|
|
(4.50% Cash + 7.50% PIK), 12.00%, 12/01/30(f)(h)
|
EUR
|
100
|
94,901
|
|
(5.50% Cash + 6.50% PIK), 12.00%, 12/01/30(b)(f)
|
USD
|
200
|
168,070
|
|
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal
Packaging Finance PLC(b)
|
|
|
|
|
4.00%, 09/01/29
|
|
485
|
444,115
|
|
6.25%, 01/30/31
|
|
200
|
198,283
|
|
Ball Corp.
|
|
|
|
|
4.25%, 07/01/32
|
EUR
|
100
|
114,231
|
|
5.50%, 09/15/33
|
USD
|
44
|
44,025
|
|
Clydesdale Acquisition Holdings, Inc.(b)
|
|
|
|
|
6.63%, 04/15/29
|
|
34
|
33,390
|
|
6.88%, 01/15/30
|
|
64
|
62,206
|
|
6.75%, 04/15/32
|
|
280
|
264,920
|
|
Crown Americas LLC, 5.88%, 06/01/33
|
|
274
|
273,874
|
|
LABL, Inc.(b)
|
|
|
|
|
5.88%, 11/01/28(g)
|
|
83
|
39,840
|
|
9.50%, 11/01/28
|
|
131
|
62,880
|
|
8.63%, 10/01/31(g)
|
|
148
|
71,040
|
|
Mauser Packaging Solutions Holding Co.(b)
|
|
|
|
|
7.88%, 04/15/30
|
|
1,281
|
1,281,000
|
|
9.25%, 04/15/30
|
|
65
|
60,396
|
|
Sealed Air Corp.(b)
|
|
|
|
|
4.00%, 12/01/27
|
|
19
|
18,953
|
|
5.00%, 04/15/29
|
|
15
|
15,113
|
|
6.50%, 07/15/32
|
|
94
|
98,602
|
|
Security
|
|
Par
(000)
|
Value
|
|
Containers & Packaging (continued)
|
|||
|
Silgan Holdings, Inc., 4.25%, 02/15/31(b)
|
EUR
|
100
|
$ 111,868
|
|
Trivium Packaging Finance BV, 8.25%, 07/15/30(b)
|
USD
|
180
|
188,331
|
|
|
|
|
3,827,753
|
|
Distributors(b) — 0.0%
|
|||
|
Gates Corp., 6.88%, 07/01/29
|
|
74
|
75,927
|
|
Resideo Funding, Inc.
|
|
|
|
|
4.00%, 09/01/29
|
|
18
|
17,010
|
|
6.50%, 07/15/32
|
|
129
|
127,101
|
|
|
|
|
220,038
|
|
Diversified REITs — 0.2%
|
|||
|
Digital Realty Trust LP, 1.88%, 11/15/29(b)(i)
|
|
20
|
21,172
|
|
Iron Mountain Information Management Services, Inc.,
5.00%, 07/15/32(b)
|
|
109
|
102,903
|
|
Iron Mountain, Inc.(b)
|
|
|
|
|
5.63%, 07/15/32
|
|
113
|
109,697
|
|
6.25%, 01/15/33
|
|
67
|
66,786
|
|
4.75%, 01/15/34
|
EUR
|
200
|
215,107
|
|
Millrose Properties, Inc.(b)
|
|
|
|
|
6.38%, 08/01/30
|
USD
|
254
|
253,921
|
|
6.25%, 09/15/32
|
|
164
|
160,984
|
|
SBA Communications Corp., 3.13%, 02/01/29
|
|
150
|
142,136
|
|
Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital
LLC, 6.00%, 01/15/30(b)
|
|
23
|
21,633
|
|
|
|
|
1,094,339
|
|
Diversified Telecommunication Services — 1.6%
|
|||
|
APLD ComputeCo 2 LLC, 6.75%, 03/15/31(b)
|
|
294
|
291,860
|
|
APLD ComputeCo LLC, 9.25%, 12/15/30(b)
|
|
100
|
103,032
|
|
Black Pearl Compute LLC, 6.13%, 02/15/31(b)
|
|
309
|
314,499
|
|
Cipher Compute LLC, 7.13%, 11/15/30(b)
|
|
299
|
309,773
|
|
Connect Finco SARL/Connect U.S. Finco LLC, 9.00%,
09/15/29(b)
|
|
200
|
210,108
|
|
EchoStar Corp.
|
|
|
|
|
(6.75% Cash or 6.75% PIK), 6.75%, 11/30/30(f)
|
|
698
|
705,119
|
|
10.75%, 11/30/29
|
|
334
|
360,567
|
|
Fibercop SpA(b)
|
|
|
|
|
6.00%, 09/30/34
|
|
200
|
190,257
|
|
7.20%, 07/18/36
|
|
200
|
198,554
|
|
Flash Compute LLC, 7.25%, 12/31/30(b)
|
|
460
|
463,124
|
|
Frontier Communications Holdings LLC
|
|
|
|
|
5.00%, 05/01/28(b)
|
|
21
|
20,997
|
|
6.75%, 05/01/29(b)
|
|
28
|
28,035
|
|
5.88%, 11/01/29
|
|
47
|
46,614
|
|
6.00%, 01/15/30(b)
|
|
59
|
59,353
|
|
8.75%, 05/15/30(b)
|
|
420
|
430,956
|
|
Level 3 Financing, Inc.(b)
|
|
|
|
|
3.63%, 01/15/29
|
|
18
|
16,875
|
|
6.88%, 06/30/33
|
|
802
|
816,772
|
|
7.00%, 03/31/34
|
|
613
|
627,458
|
|
8.50%, 01/15/36
|
|
781
|
815,030
|
|
Sable International Finance Ltd., 7.13%, 10/15/32(b)
|
|
200
|
196,822
|
|
SV RNO Property Owner 1 LLC, 5.88%, 03/01/31(b)
|
|
812
|
802,656
|
|
Telecom Italia Capital SA, 7.72%, 06/04/38
|
|
141
|
157,030
|
|
Uniti Group LP/Uniti Group Finance 2019, Inc./CSL
Capital LLC(b)
|
|
|
|
|
6.50%, 02/15/29
|
|
31
|
30,108
|
|
Series Feb, 8.63%, 06/15/32
|
|
293
|
298,416
|
|
Windstream Services LLC, 7.50%, 10/15/33(b)
|
|
157
|
163,225
|
|
Windstream Services LLC/Windstream Escrow Finance
Corp., 8.25%, 10/01/31(b)
|
|
809
|
845,532
|
|
WULF Compute LLC, 7.75%, 10/15/30(b)
|
|
496
|
524,113
|
|
Security
|
|
Par
(000)
|
Value
|
|
Diversified Telecommunication Services (continued)
|
|||
|
Zayo Group Holdings, Inc.(b)(f)
|
|
|
|
|
(5.75% Cash and 0.50% PIK), 9.25%, 03/09/30
|
USD
|
555
|
$ 551,364
|
|
(7.13% Cash and 1.88% PIK), 13.75%, 09/09/30
|
|
133
|
124,507
|
|
|
|
|
9,702,756
|
|
Electric Utilities — 0.3%
|
|||
|
Alpha Generation LLC, 6.75%, 10/15/32(b)
|
|
69
|
70,010
|
|
Constellation Energy Generation LLC(b)
|
|
|
|
|
4.63%, 02/01/29
|
|
47
|
46,431
|
|
5.00%, 02/01/31
|
|
19
|
19,051
|
|
ContourGlobal Power Holdings SA, 6.75%, 02/28/30(b)
|
|
200
|
202,248
|
|
NextEra Energy Capital Holdings, Inc., (5-year CMT +
2.46%), 6.75%, 06/15/54(a)
|
|
33
|
34,140
|
|
Pattern Energy Operations LP/Pattern Energy
Operations, Inc., 4.50%, 08/15/28(b)
|
|
8
|
7,812
|
|
Talen Energy Supply LLC, 8.63%, 06/01/30(b)
|
|
22
|
23,080
|
|
Texas Competitive Electric Holdings Co. LLC, 5.03%,
11/10/21(c)(g)
|
|
2,375
|
—
|
|
TransAlta Corp., 5.88%, 02/01/34
|
|
78
|
77,475
|
|
Vistra Operations Co. LLC(b)
|
|
|
|
|
7.75%, 10/15/31
|
|
121
|
126,745
|
|
6.88%, 04/15/32
|
|
82
|
84,866
|
|
VoltaGrid LLC, 7.38%, 11/01/30(b)
|
|
552
|
570,110
|
|
XPLR Infrastructure Operating Partners LP(b)
|
|
|
|
|
8.38%, 01/15/31
|
|
254
|
267,386
|
|
8.63%, 03/15/33
|
|
32
|
33,805
|
|
7.75%, 04/15/34
|
|
362
|
373,856
|
|
|
|
|
1,937,015
|
|
Electronic Equipment, Instruments & Components(b) — 0.2%
|
|||
|
Coherent Corp., 5.00%, 12/15/29
|
|
45
|
44,137
|
|
Sensata Technologies BV, 4.00%, 04/15/29
|
|
36
|
34,739
|
|
Sensata Technologies, Inc.
|
|
|
|
|
4.38%, 02/15/30
|
|
243
|
232,389
|
|
3.75%, 02/15/31
|
|
145
|
134,490
|
|
6.63%, 07/15/32
|
|
200
|
203,997
|
|
WESCO Distribution, Inc.
|
|
|
|
|
5.25%, 04/15/31
|
|
73
|
72,564
|
|
6.38%, 03/15/33
|
|
73
|
74,370
|
|
5.50%, 04/15/34
|
|
116
|
114,242
|
|
Zebra Technologies Corp., 6.50%, 06/01/32
|
|
29
|
29,198
|
|
|
|
|
940,126
|
|
Energy Equipment & Services — 0.3%
|
|||
|
Archrock Partners LP/Archrock Partners Finance Corp.(b)
|
|
|
|
|
6.25%, 04/01/28
|
|
18
|
18,000
|
|
6.63%, 09/01/32
|
|
333
|
339,545
|
|
Archrock Services LP/Archrock Partners Finance Corp.,
6.00%, 02/01/34(b)
|
|
112
|
110,887
|
|
Enerflex, Inc., 6.88%, 01/15/31(b)
|
|
14
|
14,294
|
|
Kodiak Gas Services LLC(b)
|
|
|
|
|
7.25%, 02/15/29
|
|
133
|
137,795
|
|
5.88%, 04/01/31
|
|
186
|
186,921
|
|
6.50%, 10/01/33
|
|
173
|
174,869
|
|
6.75%, 10/01/35
|
|
126
|
128,005
|
|
Oceaneering International, Inc., 6.00%, 02/01/28
|
|
18
|
18,073
|
|
Star Holding LLC, 8.75%, 08/01/31(b)
|
|
127
|
128,846
|
|
Tidewater, Inc., 9.13%, 07/15/30(b)
|
|
65
|
69,247
|
|
USA Compression Partners LP/USA Compression
Finance Corp.(b)
|
|
|
|
|
7.13%, 03/15/29
|
|
76
|
77,761
|
|
Security
|
|
Par
(000)
|
Value
|
|
Energy Equipment & Services (continued)
|
|||
|
USA Compression Partners LP/USA Compression
Finance Corp.(b) (continued)
|
|
|
|
|
6.25%, 10/01/33
|
USD
|
317
|
$ 316,003
|
|
Weatherford International Ltd., 6.75%, 10/15/33(b)
|
|
214
|
218,659
|
|
|
|
|
1,938,905
|
|
Entertainment — 0.6%
|
|||
|
Boyne USA, Inc., 4.75%, 05/15/29(b)
|
|
147
|
142,589
|
|
Caesars Entertainment, Inc.(b)
|
|
|
|
|
4.63%, 10/15/29
|
|
99
|
95,228
|
|
7.00%, 02/15/30
|
|
342
|
346,224
|
|
6.50%, 02/15/32
|
|
218
|
215,462
|
|
Churchill Downs, Inc.(b)
|
|
|
|
|
4.75%, 01/15/28
|
|
47
|
46,366
|
|
5.75%, 04/01/30
|
|
308
|
304,600
|
|
6.75%, 05/01/31
|
|
188
|
191,535
|
|
Cinemark USA, Inc., 7.00%, 08/01/32(b)
|
|
19
|
19,522
|
|
Discovery Global Holdings, Inc.
|
|
|
|
|
4.28%, 03/15/32
|
|
126
|
111,510
|
|
5.05%, 03/15/42
|
|
370
|
243,758
|
|
Great Canadian Gaming Corp./Raptor LLC, 8.75%,
11/15/29(b)
|
|
69
|
67,317
|
|
Light & Wonder International, Inc.(b)
|
|
|
|
|
7.50%, 09/01/31
|
|
41
|
42,078
|
|
6.25%, 10/01/33
|
|
36
|
35,269
|
|
Live Nation Entertainment, Inc.(b)
|
|
|
|
|
4.75%, 10/15/27
|
|
38
|
37,764
|
|
3.75%, 01/15/28
|
|
35
|
34,133
|
|
Midwest Gaming Borrower LLC/Midwest Gaming
Finance Corp., 4.88%, 05/01/29(b)
|
|
40
|
38,793
|
|
Mohegan Tribal Gaming Authority/MS Digital
Entertainment Holdings LLC, 8.25%, 04/15/30(b)
|
|
70
|
71,661
|
|
Odeon Finco PLC, 12.75%, 11/01/27(b)
|
|
519
|
534,222
|
|
Premier Entertainment Sub LLC/Premier Entertainment
Finance Corp.(b)
|
|
|
|
|
5.63%, 09/01/29
|
|
34
|
20,740
|
|
5.88%, 09/01/31
|
|
49
|
26,950
|
|
Rivers Enterprise Borrower LLC, 6.25%, 10/15/30(b)
|
|
45
|
44,886
|
|
Rivers Enterprise Borrower LLC/Rivers Enterprise
Finance Corp., 6.63%, 02/01/33(b)
|
|
43
|
42,676
|
|
Scientific Games Holdings LP/Scientific Games
U.S. FinCo, Inc., 6.63%, 03/01/30(b)
|
|
152
|
130,761
|
|
Six Flags Entertainment Corp/Canada’s Wonderland
Co/Millennium Operations LLC, 8.63%, 01/15/32(b)
|
|
42
|
42,068
|
|
Starz Capital Holdings 1, Inc., 6.00%, 04/15/30(b)
|
|
54
|
49,545
|
|
Vail Resorts, Inc.(b)
|
|
|
|
|
5.63%, 07/15/30
|
|
59
|
58,512
|
|
6.50%, 05/15/32
|
|
76
|
76,857
|
|
Voyager Parent LLC, 9.25%, 07/01/32(b)
|
|
92
|
95,516
|
|
Wynn Resorts Finance LLC/Wynn Resorts Capital
Corp.(b)
|
|
|
|
|
5.13%, 10/01/29
|
|
144
|
142,138
|
|
7.13%, 02/15/31
|
|
433
|
453,890
|
|
6.25%, 03/15/33
|
|
45
|
44,532
|
|
|
|
|
3,807,102
|
|
Environmental, Maintenance & Security Service(b) — 0.4%
|
|||
|
Clean Harbors, Inc., 6.38%, 02/01/31
|
|
7
|
7,109
|
|
GFL Environmental Holdings U.S., Inc., 5.50%, 02/01/34
|
|
200
|
196,159
|
|
GFL Environmental, Inc.
|
|
|
|
|
4.00%, 08/01/28
|
|
8
|
7,777
|
|
4.75%, 06/15/29
|
|
111
|
108,908
|
|
Security
|
|
Par
(000)
|
Value
|
|
Environmental, Maintenance & Security Service (continued)
|
|||
|
GFL Environmental, Inc. (continued)
|
|
|
|
|
4.38%, 08/15/29
|
USD
|
65
|
$ 63,240
|
|
6.75%, 01/15/31
|
|
77
|
79,682
|
|
Madison IAQ LLC, 5.88%, 06/30/29
|
|
1,262
|
1,237,592
|
|
Reworld Holding Corp., 4.88%, 12/01/29
|
|
43
|
40,311
|
|
Waste Pro USA, Inc., 7.00%, 02/01/33
|
|
624
|
631,021
|
|
|
|
|
2,371,799
|
|
Financial Services(b) — 0.6%
|
|||
|
Azorra Finance Ltd.
|
|
|
|
|
7.75%, 04/15/30
|
|
202
|
208,205
|
|
7.25%, 01/15/31
|
|
36
|
36,349
|
|
6.25%, 02/15/34
|
|
43
|
39,966
|
|
CrossCountry Intermediate HoldCo LLC
|
|
|
|
|
6.50%, 10/01/30
|
|
23
|
21,922
|
|
6.75%, 12/01/32
|
|
23
|
21,642
|
|
Freedom Mortgage Holdings LLC
|
|
|
|
|
6.88%, 05/01/31
|
|
49
|
45,811
|
|
9.13%, 05/15/31
|
|
67
|
68,105
|
|
8.38%, 04/01/32
|
|
73
|
71,810
|
|
GGAM Finance Ltd.
|
|
|
|
|
8.00%, 06/15/28
|
|
29
|
30,098
|
|
6.88%, 04/15/29
|
|
65
|
66,446
|
|
5.88%, 03/15/30
|
|
173
|
172,351
|
|
Global Aircraft Leasing Co. Ltd., 8.75%, 09/01/27
|
|
141
|
143,073
|
|
Midcap Financial Issuer Trust, 5.63%, 01/15/30
|
|
200
|
186,372
|
|
PennyMac Financial Services, Inc.
|
|
|
|
|
7.88%, 12/15/29
|
|
52
|
53,194
|
|
7.13%, 11/15/30
|
|
172
|
170,929
|
|
6.88%, 05/15/32
|
|
197
|
190,103
|
|
6.75%, 02/15/34
|
|
17
|
15,909
|
|
Phoenix Aviation Capital Ltd., 9.25%, 07/15/30
|
|
361
|
363,271
|
|
Rocket Cos., Inc.
|
|
|
|
|
6.50%, 08/01/29
|
|
172
|
173,936
|
|
6.13%, 08/01/30
|
|
502
|
506,632
|
|
7.13%, 02/01/32
|
|
164
|
169,040
|
|
6.38%, 08/01/33
|
|
280
|
283,008
|
|
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc.
|
|
|
|
|
2.88%, 10/15/26
|
|
75
|
74,189
|
|
3.88%, 03/01/31
|
|
20
|
18,456
|
|
4.00%, 10/15/33
|
|
9
|
8,067
|
|
UWM Holdings LLC
|
|
|
|
|
6.63%, 02/01/30
|
|
164
|
154,680
|
|
6.25%, 03/15/31
|
|
233
|
212,190
|
|
|
|
|
3,505,754
|
|
Food Products(b) — 0.3%
|
|||
|
Aramark Services, Inc., 5.00%, 02/01/28
|
|
41
|
40,758
|
|
B&G Foods, Inc., 8.00%, 09/15/28
|
|
22
|
21,663
|
|
Chobani Holdco II LLC, (8.75% in Cash or 9.50% in PIK),
8.75%, 10/01/29(f)
|
|
397
|
422,165
|
|
Chobani LLC/Chobani Finance Corp., Inc.
|
|
|
|
|
4.63%, 11/15/28
|
|
258
|
253,621
|
|
7.63%, 07/01/29
|
|
241
|
246,267
|
|
Darling Global Finance BV, 4.50%, 07/15/32
|
EUR
|
100
|
115,014
|
|
Darling Ingredients, Inc., 6.00%, 06/15/30
|
USD
|
151
|
152,055
|
|
Fiesta Purchaser, Inc.
|
|
|
|
|
7.88%, 03/01/31
|
|
5
|
5,090
|
|
9.63%, 09/15/32
|
|
80
|
81,478
|
|
Lamb Weston Holdings, Inc., 4.13%, 01/31/30
|
|
248
|
236,108
|
|
Post Holdings, Inc.
|
|
|
|
|
4.63%, 04/15/30
|
|
36
|
34,560
|
|
Security
|
|
Par
(000)
|
Value
|
|
Food Products (continued)
|
|||
|
Post Holdings, Inc. (continued)
|
|
|
|
|
4.50%, 09/15/31
|
USD
|
28
|
$ 26,035
|
|
6.38%, 03/01/33
|
|
75
|
73,886
|
|
6.25%, 10/15/34
|
|
132
|
129,255
|
|
6.50%, 03/15/36
|
|
189
|
185,092
|
|
|
|
|
2,023,047
|
|
Ground Transportation(b) — 0.0%
|
|||
|
Genesee & Wyoming, Inc., 6.25%, 04/15/32
|
|
86
|
87,028
|
|
Watco Cos. LLC/Watco Finance Corp., 7.13%, 08/01/32
|
|
26
|
26,702
|
|
|
|
|
113,730
|
|
Health Care Equipment & Supplies(b) — 0.2%
|
|||
|
Bausch & Lomb Corp., 8.38%, 10/01/28
|
|
533
|
550,323
|
|
Hologic, Inc., 3.25%, 02/15/29
|
|
5
|
4,991
|
|
Insulet Corp., 6.50%, 04/01/33
|
|
126
|
128,608
|
|
Medline Borrower LP, 5.25%, 10/01/29
|
|
458
|
453,967
|
|
Medline Borrower LP/Medline Co-Issuer, Inc., 6.25%,
04/01/29
|
|
257
|
261,879
|
|
Neogen Food Safety Corp., 8.63%, 07/20/30
|
|
60
|
63,019
|
|
|
|
|
1,462,787
|
|
Health Care Providers & Services — 0.9%
|
|||
|
Acadia Healthcare Co., Inc., 7.38%, 03/15/33(b)
|
|
100
|
102,382
|
|
AHP Health Partners, Inc., 5.75%, 07/15/29(b)
|
|
256
|
253,164
|
|
CHS/Community Health Systems, Inc.(b)
|
|
|
|
|
5.25%, 05/15/30
|
|
310
|
292,170
|
|
4.75%, 02/15/31
|
|
111
|
102,334
|
|
10.88%, 01/15/32
|
|
117
|
125,525
|
|
9.75%, 01/15/34
|
|
629
|
652,819
|
|
Concentra Health Services, Inc., 6.88%, 07/15/32(b)
|
|
86
|
88,912
|
|
DaVita, Inc.(b)
|
|
|
|
|
6.88%, 09/01/32
|
|
8
|
8,195
|
|
6.75%, 07/15/33
|
|
12
|
12,206
|
|
Fortrea Holdings, Inc., 7.50%, 07/01/30(b)
|
|
20
|
18,954
|
|
HAH Group Holding Co. LLC, 9.75%, 10/01/31(b)
|
|
38
|
33,290
|
|
HealthEquity, Inc., 4.50%, 10/01/29(b)
|
|
496
|
479,874
|
|
IQVIA, Inc., 6.25%, 06/01/32(b)
|
|
157
|
159,432
|
|
LifePoint Health, Inc.(b)
|
|
|
|
|
9.88%, 08/15/30
|
|
22
|
23,265
|
|
11.00%, 10/15/30
|
|
237
|
254,886
|
|
8.38%, 02/15/32
|
|
134
|
143,102
|
|
10.00%, 06/01/32
|
|
218
|
222,628
|
|
Molina Healthcare, Inc.(b)
|
|
|
|
|
3.88%, 11/15/30
|
|
60
|
53,642
|
|
6.50%, 02/15/31
|
|
177
|
174,010
|
|
6.25%, 01/15/33
|
|
76
|
73,689
|
|
Option Care Health, Inc., 4.38%, 10/31/29(b)
|
|
79
|
76,140
|
|
Prime Healthcare Services, Inc., 9.38%, 09/01/29(b)
|
|
28
|
29,036
|
|
Sotera Health Holdings LLC, 7.38%, 06/01/31(b)
|
|
175
|
180,770
|
|
Star Parent, Inc., 9.00%, 10/01/30(b)
|
|
296
|
306,656
|
|
Surgery Center Holdings, Inc., 7.25%, 04/15/32(b)
|
|
667
|
655,110
|
|
Tenet Healthcare Corp.
|
|
|
|
|
6.75%, 05/15/31
|
|
380
|
388,411
|
|
5.50%, 11/15/32(b)
|
|
66
|
65,391
|
|
6.00%, 11/15/33(b)
|
|
101
|
102,197
|
|
U.S. Acute Care Solutions LLC, 9.75%, 05/15/29(b)
|
|
231
|
223,157
|
|
|
|
|
5,301,347
|
|
Security
|
|
Par
(000)
|
Value
|
|
Health Care REITs(b) — 0.1%
|
|||
|
Diversified Healthcare Trust, 7.25%, 10/15/30
|
USD
|
43
|
$ 43,369
|
|
MPT Operating Partnership LP/MPT Finance Corp.,
8.50%, 02/15/32
|
|
438
|
444,050
|
|
|
|
|
487,419
|
|
Hotel & Resort REITs — 0.3%
|
|||
|
Park Intermediate Holdings LLC/PK Domestic Property
LLC/PK Finance Co-Issuer, 7.00%, 02/01/30(b)
|
|
173
|
175,118
|
|
Pebblebrook Hotel LP/PEB Finance Corp., 6.38%,
10/15/29(b)
|
|
29
|
29,053
|
|
RHP Hotel Properties LP/RHP Finance Corp.(b)
|
|
|
|
|
4.50%, 02/15/29
|
|
39
|
37,806
|
|
6.50%, 04/01/32
|
|
258
|
262,674
|
|
6.50%, 06/15/33
|
|
224
|
228,094
|
|
5.75%, 03/15/34
|
|
201
|
198,358
|
|
RLJ Lodging Trust LP, 4.00%, 09/15/29(b)
|
|
74
|
69,307
|
|
Service Properties Trust
|
|
|
|
|
0.00%, 09/30/28(b)(j)
|
|
83
|
75,513
|
|
8.63%, 11/15/31(b)
|
|
645
|
673,588
|
|
8.88%, 06/15/32
|
|
101
|
100,105
|
|
XHR LP, 6.63%, 05/15/30(b)
|
|
28
|
28,269
|
|
|
|
|
1,877,885
|
|
Hotels, Restaurants & Leisure — 0.4%
|
|||
|
Burger King (Restaurant Brands International, Inc.)/New
Red Finance, Inc.(b)
|
|
|
|
|
5.63%, 09/15/29
|
|
29
|
29,063
|
|
4.00%, 10/15/30
|
|
175
|
164,487
|
|
Fertitta Entertainment LLC/Fertitta Entertainment
Finance Co., Inc.(b)
|
|
|
|
|
4.63%, 01/15/29
|
|
279
|
266,648
|
|
6.75%, 01/15/30
|
|
586
|
547,355
|
|
Hilton Domestic Operating Co., Inc.(b)
|
|
|
|
|
5.88%, 03/15/33
|
|
211
|
212,288
|
|
5.75%, 09/15/33
|
|
11
|
10,950
|
|
5.50%, 03/31/34
|
|
90
|
87,928
|
|
MajorDrive Holdings IV LLC, 6.38%, 06/01/29(b)
|
|
78
|
57,694
|
|
Melco Resorts Finance Ltd.(b)
|
|
|
|
|
5.38%, 12/04/29
|
|
200
|
191,750
|
|
7.63%, 04/17/32
|
|
200
|
203,047
|
|
MGM Resorts International, 6.13%, 09/15/29
|
|
72
|
72,427
|
|
Station Casinos LLC(b)
|
|
|
|
|
4.50%, 02/15/28
|
|
69
|
67,629
|
|
4.63%, 12/01/31
|
|
112
|
104,573
|
|
6.63%, 03/15/32
|
|
33
|
33,128
|
|
Wyndham Hotels & Resorts, Inc.(b)
|
|
|
|
|
4.38%, 08/15/28
|
|
44
|
42,987
|
|
5.63%, 03/01/33
|
|
54
|
53,135
|
|
Wynn Macau Ltd.(b)
|
|
|
|
|
5.63%, 08/26/28
|
|
400
|
393,185
|
|
5.13%, 12/15/29
|
|
200
|
191,210
|
|
|
|
|
2,729,484
|
|
Household Durables — 0.3%
|
|||
|
Ashton Woods USA LLC/Ashton Woods Finance Co.(b)
|
|
|
|
|
4.63%, 08/01/29
|
|
32
|
30,231
|
|
4.63%, 04/01/30
|
|
46
|
42,694
|
|
6.88%, 08/01/33
|
|
92
|
88,756
|
|
Beazer Homes USA, Inc., 5.88%, 10/15/27
|
|
14
|
13,932
|
|
Brookfield Residential Properties, Inc./Brookfield
Residential U.S. LLC(b)
|
|
|
|
|
5.00%, 06/15/29
|
|
228
|
216,325
|
|
4.88%, 02/15/30
|
|
56
|
51,415
|
|
Central Garden & Pet Co., 4.13%, 10/15/30
|
|
26
|
24,461
|
|
Century Communities, Inc., 6.63%, 09/15/33(b)
|
|
83
|
81,311
|
|
Security
|
|
Par
(000)
|
Value
|
|
Household Durables (continued)
|
|||
|
Dream Finders Homes, Inc., 8.25%, 08/15/28(b)
|
USD
|
26
|
$ 26,419
|
|
Empire Communities Corp., 9.75%, 05/01/29(b)
|
|
13
|
13,053
|
|
Installed Building Products, Inc., 5.63%, 02/01/34(b)
|
|
81
|
79,040
|
|
K Hovnanian Enterprises, Inc.(b)
|
|
|
|
|
8.00%, 04/01/31
|
|
158
|
156,212
|
|
8.38%, 10/01/33
|
|
103
|
101,856
|
|
LGI Homes, Inc.(b)
|
|
|
|
|
8.75%, 12/15/28
|
|
33
|
33,763
|
|
7.00%, 11/15/32
|
|
62
|
57,488
|
|
Mattamy Group Corp.(b)
|
|
|
|
|
4.63%, 03/01/30
|
|
72
|
68,454
|
|
6.00%, 12/15/33
|
|
70
|
65,734
|
|
Meritage Homes Corp., 1.75%, 05/15/28(i)
|
|
98
|
94,374
|
|
Newell Brands, Inc.
|
|
|
|
|
8.50%, 06/01/28(b)
|
|
66
|
68,125
|
|
6.63%, 09/15/29
|
|
23
|
22,450
|
|
6.38%, 05/15/30
|
|
25
|
23,998
|
|
6.63%, 05/15/32
|
|
39
|
37,322
|
|
Risewell Homes, Inc.(b)
|
|
|
|
|
9.25%, 10/01/29
|
|
56
|
56,568
|
|
8.50%, 11/01/30
|
|
22
|
21,512
|
|
Scotts Miracle-Gro Co.
|
|
|
|
|
4.50%, 10/15/29
|
|
5
|
4,888
|
|
4.38%, 02/01/32
|
|
97
|
90,595
|
|
Somnigroup International, Inc.(b)
|
|
|
|
|
4.00%, 04/15/29
|
|
89
|
85,587
|
|
3.88%, 10/15/31
|
|
23
|
20,911
|
|
STL Holding Co. LLC, 8.75%, 02/15/29(b)
|
|
31
|
32,027
|
|
SWF Holdings I Corp., 6.50%, 10/06/29(b)
|
|
285
|
102,620
|
|
Taylor Morrison Communities, Inc., 5.75%, 11/15/32(b)
|
|
39
|
39,034
|
|
|
|
|
1,851,155
|
|
Independent Power and Renewable Electricity Producers(b) — 0.3%
|
|||
|
Clearway Energy Operating LLC
|
|
|
|
|
4.75%, 03/15/28
|
|
8
|
7,893
|
|
3.75%, 01/15/32
|
|
184
|
167,728
|
|
Lightning Power LLC, 7.25%, 08/15/32
|
|
23
|
23,908
|
|
NRG Energy, Inc.
|
|
|
|
|
5.75%, 07/15/29
|
|
131
|
130,804
|
|
6.00%, 02/01/33
|
|
186
|
186,047
|
|
5.75%, 01/15/34
|
|
232
|
228,851
|
|
6.25%, 11/01/34
|
|
334
|
336,663
|
|
6.00%, 01/15/36
|
|
733
|
726,335
|
|
Vistra Corp., (5-year CMT + 6.93%), 8.00%(a)(k)
|
|
44
|
44,466
|
|
XPLR Infrastructure LP, 2.50%, 06/15/26(i)
|
|
179
|
177,210
|
|
|
|
|
2,029,905
|
|
Industrial Conglomerates — 0.1%
|
|||
|
Amsted Industries, Inc., 6.38%, 03/15/33(b)
|
|
150
|
150,743
|
|
Avient Corp., 6.25%, 11/01/31(b)
|
|
37
|
37,258
|
|
Axon Enterprise, Inc., 6.25%, 03/15/33(b)
|
|
81
|
82,680
|
|
Enpro, Inc., 6.13%, 06/01/33(b)
|
|
49
|
49,562
|
|
NM Holdings Co. LLC, Series B, 9.50%, 07/01/05(c)(d)(g)
|
|
5,125
|
1
|
|
|
|
|
320,244
|
|
Insurance(b) — 1.6%
|
|||
|
Alliant Holdings Intermediate LLC/Alliant Holdings Co-
Issuer
|
|
|
|
|
4.25%, 10/15/27
|
|
275
|
269,516
|
|
6.75%, 10/15/27
|
|
344
|
343,738
|
|
6.75%, 04/15/28
|
|
37
|
37,202
|
|
5.88%, 11/01/29
|
|
373
|
360,888
|
|
7.00%, 01/15/31
|
|
415
|
418,532
|
|
6.50%, 10/01/31
|
|
18
|
17,675
|
|
7.38%, 10/01/32
|
|
894
|
885,463
|
|
Security
|
|
Par
(000)
|
Value
|
|
Insurance (continued)
|
|||
|
AmWINS Group, Inc.
|
|
|
|
|
6.38%, 02/15/29
|
USD
|
24
|
$ 24,139
|
|
4.88%, 06/30/29
|
|
88
|
84,301
|
|
Amynta Agency Borrower, Inc. and Amynta Warranty
Borrower, Inc., 7.50%, 07/15/33
|
|
198
|
187,771
|
|
APH Somerset Investor 2 LLC/APH2 Somerset Investor
2 LLC/APH3 Somerset Investor 2 LLC, 7.88%,
11/01/29
|
|
63
|
56,969
|
|
Ardonagh Finco Ltd., 7.75%, 02/15/31
|
|
600
|
607,030
|
|
Ardonagh Group Finance Ltd., 8.88%, 02/15/32
|
|
800
|
783,810
|
|
Asurion LLC/Asurion Co-Issuer, Inc.
|
|
|
|
|
8.00%, 12/31/32
|
|
394
|
408,754
|
|
8.38%, 02/01/34
|
|
309
|
299,996
|
|
Howden U.K. Refinance PLC/Howden U.K. Refinance
2 PLC/Howden U.S. Refinance LLC
|
|
|
|
|
7.25%, 02/15/31
|
|
400
|
403,368
|
|
8.13%, 02/15/32
|
|
245
|
229,553
|
|
HUB International Ltd.
|
|
|
|
|
7.25%, 06/15/30
|
|
989
|
1,013,136
|
|
7.38%, 01/31/32
|
|
1,466
|
1,495,266
|
|
Jones Deslauriers Insurance Management, Inc.
|
|
|
|
|
8.50%, 03/15/30
|
|
136
|
138,234
|
|
6.88%, 10/01/33
|
|
179
|
163,753
|
|
Panther Escrow Issuer LLC, 7.13%, 06/01/31
|
|
1,100
|
1,103,695
|
|
Ryan Specialty LLC, 5.88%, 08/01/32
|
|
265
|
261,917
|
|
USI, Inc., 7.50%, 01/15/32
|
|
232
|
235,053
|
|
|
|
|
9,829,759
|
|
Interactive Media & Services(b) — 1.2%
|
|||
|
Beignet Investor LLC, 6.58%, 05/30/49
|
|
6,664
|
6,851,631
|
|
ION Platform Finance U.S., Inc./ION Platform Finance
SARL, 5.00%, 05/01/28
|
|
189
|
176,535
|
|
Snap, Inc.
|
|
|
|
|
6.88%, 03/01/33
|
|
250
|
236,068
|
|
6.88%, 03/15/34
|
|
254
|
238,904
|
|
|
|
|
7,503,138
|
|
Internet Software & Services(b) — 0.2%
|
|||
|
Getty Images, Inc.
|
|
|
|
|
11.25%, 02/21/30
|
|
393
|
353,932
|
|
10.50%, 11/15/30
|
|
38
|
34,079
|
|
Match Group Holdings II LLC
|
|
|
|
|
4.13%, 08/01/30
|
|
137
|
126,962
|
|
3.63%, 10/01/31
|
|
65
|
57,790
|
|
6.13%, 09/15/33
|
|
141
|
137,026
|
|
Rakuten Group, Inc., 9.75%, 04/15/29
|
|
200
|
213,120
|
|
Uber Technologies, Inc., 4.50%, 08/15/29
|
|
330
|
327,204
|
|
|
|
|
1,250,113
|
|
IT Services(b) — 0.2%
|
|||
|
Amentum Holdings, Inc., 7.25%, 08/01/32
|
|
21
|
21,731
|
|
CACI International, Inc., 6.38%, 06/15/33
|
|
188
|
191,370
|
|
CoreWeave, Inc., 9.25%, 06/01/30
|
|
113
|
109,797
|
|
Fair Isaac Corp., 6.00%, 05/15/33
|
|
329
|
322,822
|
|
Fortress Intermediate 3, Inc., 7.50%, 06/01/31
|
|
311
|
309,087
|
|
KBR, Inc., 4.75%, 09/30/28
|
|
75
|
73,337
|
|
McAfee Corp., 7.38%, 02/15/30
|
|
99
|
81,793
|
|
Science Applications International Corp., 5.88%,
11/01/33
|
|
207
|
202,006
|
|
|
|
|
1,311,943
|
|
Leisure Products(b) — 0.3%
|
|||
|
Acushnet Co., 5.63%, 12/01/33
|
|
39
|
38,698
|
|
Security
|
|
Par
(000)
|
Value
|
|
Leisure Products (continued)
|
|||
|
Carnival Corp.
|
|
|
|
|
5.88%, 06/15/31
|
USD
|
66
|
$ 66,811
|
|
5.75%, 08/01/32
|
|
45
|
44,986
|
|
6.13%, 02/15/33
|
|
384
|
387,850
|
|
Carnival PLC, 4.13%, 07/15/31
|
EUR
|
125
|
140,673
|
|
Lindblad Expeditions LLC, 7.00%, 09/15/30
|
USD
|
160
|
163,359
|
|
NCL Corp. Ltd.
|
|
|
|
|
5.88%, 01/15/31
|
|
14
|
13,602
|
|
6.75%, 02/01/32
|
|
13
|
12,901
|
|
6.25%, 09/15/33
|
|
441
|
427,919
|
|
Sabre Financial Borrower LLC, 11.13%, 06/15/29
|
|
261
|
267,087
|
|
Viking Cruises Ltd.
|
|
|
|
|
7.00%, 02/15/29
|
|
13
|
13,024
|
|
9.13%, 07/15/31
|
|
177
|
186,725
|
|
5.88%, 10/15/33
|
|
273
|
269,536
|
|
Viking Ocean Cruises Ship VII Ltd., 5.63%, 02/15/29
|
|
27
|
26,959
|
|
|
|
|
2,060,130
|
|
Machinery — 0.3%
|
|||
|
ATS Corp., 4.13%, 12/15/28(b)
|
|
35
|
33,730
|
|
Chart Industries, Inc., 7.50%, 01/01/30(b)
|
|
182
|
189,081
|
|
Columbus McKinnon Corp., 7.13%, 02/01/33(b)
|
|
76
|
75,965
|
|
Esab Corp.(b)
|
|
|
|
|
6.25%, 04/15/29
|
|
66
|
66,983
|
|
5.63%, 04/01/31
|
|
194
|
195,360
|
|
GrafTech Global Enterprises, Inc., 9.88%, 12/23/29(b)
|
|
35
|
22,355
|
|
Lsf12 Helix Parent LLC, 7.13%, 02/01/33(b)
|
|
143
|
137,624
|
|
Manitowoc Co., Inc., 9.25%, 10/01/31(b)
|
|
32
|
33,417
|
|
Terex Corp., 6.25%, 10/15/32(b)
|
|
133
|
133,867
|
|
TK Elevator Midco GmbH, 4.38%, 07/15/27(h)
|
EUR
|
38
|
43,662
|
|
TK Elevator U.S. Newco, Inc., 5.25%, 07/15/27(b)
|
USD
|
200
|
199,477
|
|
Vertiv Group Corp., 4.13%, 11/15/28(b)
|
|
781
|
769,111
|
|
|
|
|
1,900,632
|
|
Media — 1.0%
|
|||
|
Adelphia Communications Corp., 10.50%, 12/31/49(c)(g)
|
|
400
|
—
|
|
Block Communications, Inc., 10.25%, 03/01/31(b)
|
|
30
|
27,448
|
|
Cable One, Inc., 1.13%, 03/15/28(i)
|
|
111
|
83,472
|
|
CCO Holdings LLC/CCO Holdings Capital Corp.
|
|
|
|
|
5.38%, 06/01/29(b)
|
|
376
|
370,831
|
|
6.38%, 09/01/29(b)
|
|
159
|
159,488
|
|
4.75%, 03/01/30(b)
|
|
290
|
275,174
|
|
4.50%, 08/15/30(b)
|
|
22
|
20,559
|
|
4.25%, 02/01/31(b)
|
|
265
|
241,535
|
|
4.75%, 02/01/32(b)
|
|
170
|
153,708
|
|
4.50%, 05/01/32
|
|
9
|
8,039
|
|
7.00%, 02/01/33(b)
|
|
119
|
119,328
|
|
4.50%, 06/01/33(b)
|
|
158
|
137,559
|
|
4.25%, 01/15/34(b)
|
|
278
|
237,827
|
|
7.38%, 02/01/36(b)
|
|
359
|
357,509
|
|
CSC Holdings LLC(b)
|
|
|
|
|
5.50%, 04/15/27
|
|
200
|
173,479
|
|
5.38%, 02/01/28
|
|
200
|
147,910
|
|
11.25%, 05/15/28
|
|
400
|
326,858
|
|
Directv Financing LLC, 8.88%, 02/01/30(b)
|
|
154
|
153,657
|
|
Directv Financing LLC/Directv Financing Co-Obligor,
Inc.(b)
|
|
|
|
|
5.88%, 08/15/27
|
|
95
|
94,900
|
|
10.00%, 02/15/31
|
|
300
|
306,249
|
|
Discovery Communications LLC, 3.95%, 03/20/28
|
|
89
|
87,193
|
|
DISH DBS Corp.(b)
|
|
|
|
|
5.25%, 12/01/26
|
|
254
|
251,822
|
|
5.75%, 12/01/28
|
|
215
|
207,946
|
|
Security
|
|
Par
(000)
|
Value
|
|
Media (continued)
|
|||
|
DISH Network Corp., 11.75%, 11/15/27(b)
|
USD
|
593
|
$ 610,935
|
|
Gray Media, Inc.(b)
|
|
|
|
|
10.50%, 07/15/29
|
|
50
|
53,133
|
|
9.63%, 07/15/32
|
|
190
|
189,988
|
|
7.25%, 08/15/33
|
|
254
|
255,948
|
|
LCPR Senior Secured Financing DAC, 6.75%,
10/15/27(b)
|
|
180
|
120,093
|
|
Midcontinent Communications, 8.00%, 08/15/32(b)
|
|
77
|
71,714
|
|
Sinclair Television Group, Inc., 8.13%, 02/15/33(b)
|
|
169
|
171,800
|
|
Sirius XM Radio LLC(b)
|
|
|
|
|
5.00%, 08/01/27
|
|
20
|
19,972
|
|
4.00%, 07/15/28
|
|
53
|
51,159
|
|
Univision Communications, Inc.(b)
|
|
|
|
|
8.00%, 08/15/28
|
|
430
|
436,447
|
|
8.50%, 07/31/31
|
|
306
|
307,493
|
|
9.38%, 08/01/32
|
|
50
|
51,531
|
|
Versant Media Group, Inc., 7.25%, 01/30/31(b)
|
|
43
|
44,006
|
|
|
|
|
6,326,710
|
|
Metals & Mining — 0.8%
|
|||
|
Advanced Drainage Systems, Inc., 6.38%, 06/15/30(b)
|
|
184
|
185,599
|
|
Arsenal AIC Parent LLC(b)
|
|
|
|
|
8.00%, 10/01/30
|
|
46
|
47,894
|
|
11.50%, 10/01/31
|
|
561
|
606,162
|
|
Big River Steel LLC/BRS Finance Corp., 6.63%,
01/31/29(b)
|
|
296
|
295,315
|
|
Carpenter Technology Corp., 5.63%, 03/01/34(b)
|
|
104
|
103,042
|
|
Cleveland-Cliffs, Inc., 6.88%, 11/01/29(b)
|
|
165
|
164,985
|
|
Commercial Metals Co.(b)
|
|
|
|
|
5.75%, 11/15/33
|
|
120
|
118,738
|
|
6.00%, 12/15/35
|
|
123
|
121,259
|
|
Constellium SE(b)
|
|
|
|
|
3.75%, 04/15/29
|
|
500
|
476,882
|
|
6.38%, 08/15/32
|
|
250
|
252,710
|
|
ERO Copper Corp., 6.50%, 02/15/30(b)
|
|
252
|
249,452
|
|
First Quantum Minerals Ltd., 6.38%, 02/15/36(b)
|
|
200
|
191,361
|
|
Kaiser Aluminum Corp.(b)
|
|
|
|
|
4.50%, 06/01/31
|
|
468
|
442,137
|
|
5.88%, 03/01/34
|
|
346
|
339,726
|
|
New Gold, Inc., 6.88%, 04/01/32(b)
|
|
235
|
242,886
|
|
Novelis Corp.(b)
|
|
|
|
|
4.75%, 01/30/30
|
|
195
|
183,787
|
|
6.88%, 01/30/30
|
|
123
|
124,067
|
|
3.88%, 08/15/31
|
|
81
|
72,143
|
|
6.38%, 08/15/33
|
|
362
|
355,083
|
|
Novelis Sheet Ingot GmbH, 3.38%, 04/15/29(h)
|
EUR
|
100
|
109,677
|
|
Vallourec SACA, 7.50%, 04/15/32(b)
|
USD
|
200
|
209,603
|
|
|
|
|
4,892,508
|
|
Mortgage Real Estate Investment Trusts (REITs)(b) — 0.1%
|
|||
|
Blackstone Mortgage Trust, Inc., 3.75%, 01/15/27
|
|
124
|
121,875
|
|
Starwood Property Trust, Inc.
|
|
|
|
|
7.25%, 04/01/29
|
|
43
|
44,274
|
|
6.00%, 04/15/30
|
|
21
|
20,959
|
|
6.50%, 07/01/30
|
|
10
|
10,213
|
|
6.50%, 10/15/30
|
|
182
|
184,587
|
|
|
|
|
381,908
|
|
Multi-Utilities — 0.0%
|
|||
|
AmeriGas Partners LP/AmeriGas Finance Corp., 9.50%,
06/01/30(b)
|
|
38
|
40,258
|
|
Security
|
|
Par
(000)
|
Value
|
|
Oil, Gas & Consumable Fuels — 1.6%
|
|||
|
Aethon United BR LP/Aethon United Finance Corp.,
7.50%, 10/01/29(b)
|
USD
|
93
|
$ 96,996
|
|
Antero Midstream Partners LP/Antero Midstream
Finance Corp., 5.38%, 06/15/29(b)
|
|
66
|
65,788
|
|
Ascent Resources Utica Holdings LLC/ARU Finance
Corp.(b)
|
|
|
|
|
9.00%, 11/01/27
|
|
38
|
44,365
|
|
5.88%, 06/30/29
|
|
89
|
88,918
|
|
6.63%, 07/15/33
|
|
54
|
54,927
|
|
Blue Racer Midstream LLC/Blue Racer Finance Corp.(b)
|
|
|
|
|
7.00%, 07/15/29
|
|
119
|
122,935
|
|
7.25%, 07/15/32
|
|
45
|
46,745
|
|
Buckeye Partners LP
|
|
|
|
|
6.88%, 07/01/29(b)
|
|
4
|
4,117
|
|
6.75%, 02/01/30(b)
|
|
23
|
23,736
|
|
5.85%, 11/15/43
|
|
16
|
14,482
|
|
5.60%, 10/15/44
|
|
1
|
877
|
|
California Resources Corp., 7.00%, 01/15/34(b)
|
|
47
|
47,384
|
|
Caturus Energy LLC, 8.50%, 02/15/30(b)
|
|
285
|
295,720
|
|
Chord Energy Corp., 6.75%, 03/15/33(b)
|
|
30
|
30,973
|
|
CITGO Petroleum Corp., 8.38%, 01/15/29(b)
|
|
130
|
134,249
|
|
CNX Midstream Partners LP, 4.75%, 04/15/30(b)
|
|
32
|
30,424
|
|
CNX Resources Corp.(b)
|
|
|
|
|
7.25%, 03/01/32
|
|
29
|
29,883
|
|
5.88%, 03/01/34
|
|
109
|
106,153
|
|
Comstock Resources, Inc.(b)
|
|
|
|
|
6.75%, 03/01/29
|
|
378
|
373,167
|
|
5.88%, 01/15/30
|
|
2
|
1,935
|
|
CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%,
06/15/31(b)
|
|
250
|
243,811
|
|
Crescent Energy Finance LLC(b)
|
|
|
|
|
7.75%, 07/31/29
|
|
27
|
27,203
|
|
9.75%, 10/15/30
|
|
28
|
29,960
|
|
7.63%, 04/01/32
|
|
115
|
116,705
|
|
7.38%, 01/15/33
|
|
82
|
81,979
|
|
8.38%, 01/15/34
|
|
43
|
44,952
|
|
CVR Energy, Inc.(b)
|
|
|
|
|
7.50%, 02/15/31
|
|
47
|
47,351
|
|
7.88%, 02/15/34
|
|
30
|
30,105
|
|
DBR Land Holdings LLC, 6.25%, 12/01/30(b)
|
|
64
|
64,799
|
|
Delek Logistics Partners LP/Delek Logistics Finance
Corp., 7.38%, 06/30/33(b)
|
|
92
|
92,761
|
|
Diamond Foreign Asset Co./Diamond Finance LLC,
8.50%, 10/01/30(b)
|
|
32
|
33,806
|
|
EG Global Finance PLC, 12.00%, 11/30/28(b)
|
|
415
|
444,030
|
|
Enbridge, Inc.(a)
|
|
|
|
|
(5-year CMT + 2.97%), 7.20%, 06/27/54
|
|
40
|
42,071
|
|
(5-year CMT + 3.12%), 7.38%, 03/15/55
|
|
54
|
56,729
|
|
Energy Transfer LP(a)
|
|
|
|
|
(5-year CMT + 2.83%), 7.13%, 10/01/54
|
|
75
|
76,175
|
|
(5-year CMT + 4.02%), 8.00%, 05/15/54
|
|
127
|
133,019
|
|
Series H, (5-year CMT + 5.69%), 6.50%(k)
|
|
129
|
128,741
|
|
Genesis Energy LP/Genesis Energy Finance Corp.
|
|
|
|
|
8.00%, 05/15/33
|
|
18
|
18,599
|
|
6.75%, 03/15/34
|
|
199
|
198,060
|
|
Global Partners LP/GLP Finance Corp., 7.13%,
07/01/33(b)
|
|
39
|
39,318
|
|
Gulfport Energy Operating Corp., 6.75%, 09/01/29(b)
|
|
45
|
46,022
|
|
Harvest Midstream I LP, 7.50%, 05/15/32(b)
|
|
25
|
25,482
|
|
Hess Midstream Operations LP(b)
|
|
|
|
|
6.50%, 06/01/29
|
|
48
|
49,033
|
|
4.25%, 02/15/30
|
|
34
|
32,672
|
|
Security
|
|
Par
(000)
|
Value
|
|
Oil, Gas & Consumable Fuels (continued)
|
|||
|
Hilcorp Energy I LP/Hilcorp Finance Co.(b)
|
|
|
|
|
6.25%, 11/01/28
|
USD
|
3
|
$ 3,006
|
|
5.75%, 02/01/29
|
|
54
|
53,245
|
|
6.00%, 04/15/30
|
|
5
|
4,867
|
|
6.25%, 04/15/32
|
|
5
|
4,839
|
|
8.38%, 11/01/33
|
|
135
|
140,850
|
|
6.88%, 05/15/34
|
|
34
|
33,218
|
|
7.25%, 02/15/35
|
|
19
|
18,941
|
|
Howard Midstream Energy Partners LLC(b)
|
|
|
|
|
7.38%, 07/15/32
|
|
27
|
27,919
|
|
6.63%, 01/15/34
|
|
168
|
168,639
|
|
Infinity Natural Resources LLC, 7.63%, 04/01/31(b)
|
|
76
|
76,401
|
|
ITT Holdings LLC, 6.50%, 08/01/29(b)
|
|
220
|
213,914
|
|
Kinetik Holdings LP, 5.88%, 06/15/30(b)
|
|
6
|
6,022
|
|
Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas
Finance Corp., 6.88%, 12/01/32(b)
|
|
82
|
84,390
|
|
Matador Resources Co.(b)
|
|
|
|
|
6.50%, 04/15/32
|
|
146
|
147,590
|
|
6.00%, 04/15/34
|
|
95
|
94,399
|
|
Nabors Industries, Inc., 7.63%, 11/15/32(b)
|
|
62
|
63,466
|
|
NGL Energy Operating LLC/NGL Energy Finance
Corp.(b)
|
|
|
|
|
8.13%, 02/15/29
|
|
70
|
72,110
|
|
8.38%, 02/15/32
|
|
163
|
167,979
|
|
Noble Finance II LLC, 8.00%, 04/15/30(b)
|
|
16
|
16,473
|
|
Northern Oil & Gas, Inc., 7.88%, 10/15/33(b)
|
|
107
|
110,708
|
|
Northriver Midstream Finance LP, 6.75%, 07/15/32(b)
|
|
42
|
42,124
|
|
PBF Holding Co. LLC/PBF Finance Corp., 7.88%,
09/15/30(b)
|
|
34
|
34,915
|
|
Permian Resources Operating LLC(b)
|
|
|
|
|
8.00%, 04/15/27
|
|
70
|
70,060
|
|
7.00%, 01/15/32
|
|
57
|
59,023
|
|
6.25%, 02/01/33
|
|
301
|
306,609
|
|
Prairie Acquiror LP, 9.00%, 08/01/29(b)
|
|
50
|
51,649
|
|
Rockies Express Pipeline LLC, 4.95%, 07/15/29(b)
|
|
14
|
13,651
|
|
SM Energy Co.(b)
|
|
|
|
|
8.75%, 07/01/31
|
|
48
|
50,174
|
|
6.63%, 04/15/34
|
|
218
|
217,384
|
|
Sunoco LP(b)
|
|
|
|
|
5.63%, 03/15/31
|
|
40
|
39,817
|
|
6.63%, 08/15/32
|
|
45
|
45,705
|
|
6.25%, 07/01/33
|
|
48
|
48,209
|
|
5.88%, 03/15/34
|
|
83
|
82,083
|
|
Tallgrass Energy Partners LP/Tallgrass Energy Finance
Corp.(b)
|
|
|
|
|
5.50%, 01/15/28
|
|
35
|
34,704
|
|
7.38%, 02/15/29
|
|
149
|
153,282
|
|
6.00%, 09/01/31
|
|
32
|
31,578
|
|
TGNR Intermediate Holdings LLC, 5.50%, 10/15/29(b)
|
|
135
|
131,997
|
|
TransMontaigne Partners LLC, 8.50%, 06/15/30(b)
|
|
15
|
15,164
|
|
Transocean International Ltd.(b)
|
|
|
|
|
8.25%, 05/15/29
|
|
15
|
15,499
|
|
8.75%, 02/15/30
|
|
33
|
34,222
|
|
8.50%, 05/15/31
|
|
91
|
95,441
|
|
7.88%, 10/15/32
|
|
57
|
60,905
|
|
Valaris Ltd., 8.38%, 04/30/30(b)
|
|
59
|
61,135
|
|
Venture Global LNG, Inc.(b)
|
|
|
|
|
9.50%, 02/01/29
|
|
323
|
349,258
|
|
8.38%, 06/01/31
|
|
333
|
346,312
|
|
9.88%, 02/01/32
|
|
485
|
520,884
|
|
Venture Global Plaquemines LNG LLC(b)
|
|
|
|
|
6.13%, 12/15/30
|
|
228
|
234,481
|
|
Security
|
|
Par
(000)
|
Value
|
|
Oil, Gas & Consumable Fuels (continued)
|
|||
|
Venture Global Plaquemines LNG LLC(b) (continued)
|
|
|
|
|
7.50%, 05/01/33
|
USD
|
62
|
$ 68,151
|
|
6.50%, 01/15/34
|
|
271
|
282,502
|
|
7.75%, 05/01/35
|
|
141
|
158,030
|
|
6.75%, 01/15/36
|
|
470
|
497,802
|
|
Vital Energy, Inc., 7.88%, 04/15/32(b)
|
|
50
|
51,083
|
|
Wildfire Intermediate Holdings LLC, 7.50%, 10/15/29(b)
|
|
178
|
180,362
|
|
|
|
|
9,610,328
|
|
Passenger Airlines — 0.1%
|
|||
|
American Airlines, Inc./AAdvantage Loyalty IP Ltd.,
5.75%, 04/20/29(b)
|
|
11
|
11,437
|
|
JetBlue Airways Corp./JetBlue Loyalty LP, 9.88%,
09/20/31(b)
|
|
93
|
87,890
|
|
OneSky Flight LLC, 8.88%, 12/15/29(b)
|
|
59
|
60,901
|
|
United Airlines Holdings, Inc., 5.38%, 03/01/31
|
|
112
|
109,684
|
|
|
|
|
269,912
|
|
Personal Care Products — 0.1%
|
|||
|
Opal Bidco SAS, 6.50%, 03/31/32(b)
|
|
200
|
200,193
|
|
Perrigo Finance Unlimited Co., 6.13%, 09/30/32
|
|
190
|
173,362
|
|
|
|
|
373,555
|
|
Pharmaceuticals — 0.6%
|
|||
|
1261229 B.C. Ltd., 10.00%, 04/15/32(b)
|
|
3,165
|
3,240,466
|
|
Amneal Pharmaceuticals LLC, 6.88%, 08/01/32(b)
|
|
56
|
57,649
|
|
Bausch Health Cos., Inc.(b)
|
|
|
|
|
4.88%, 06/01/28
|
|
48
|
43,954
|
|
11.00%, 09/30/28
|
|
277
|
282,551
|
|
Teva Pharmaceutical Finance Netherlands III BV, 3.15%,
10/01/26
|
|
130
|
128,743
|
|
|
|
|
3,753,363
|
|
Real Estate Management & Development — 0.1%
|
|||
|
Anywhere Real Estate Group LLC/Anywhere Co-Issuer
Corp., Series AI, 7.00%, 04/15/30
|
|
80
|
80,111
|
|
Anywhere Real Estate Group LLC/Realogy Co-Issuer
Corp., 9.75%, 04/15/30(b)
|
|
42
|
44,586
|
|
CoreLogic, Inc., 4.50%, 05/01/28(b)
|
|
513
|
481,594
|
|
Cushman & Wakefield U.S. Borrower LLC, 8.88%,
09/01/31(b)
|
|
65
|
68,853
|
|
Five Point Operating Co. LP, 8.00%, 10/01/30(b)
|
|
27
|
26,936
|
|
Howard Hughes Corp.(b)
|
|
|
|
|
4.38%, 02/01/31
|
|
35
|
32,132
|
|
5.88%, 03/01/32
|
|
53
|
51,001
|
|
6.13%, 03/01/34
|
|
53
|
50,897
|
|
|
|
|
836,110
|
|
Retail REITs — 0.0%
|
|||
|
Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR
Nimbus LLC/GGSI Sellco LLC, 4.50%, 04/01/27(b)
|
|
97
|
95,145
|
|
Semiconductors & Semiconductor Equipment — 0.0%
|
|||
|
Amkor Technology, Inc., 5.88%, 10/01/33(b)
|
|
25
|
24,898
|
|
Microchip Technology, Inc., 0.00%, 02/15/30(b)(i)(j)
|
|
55
|
53,653
|
|
ON Semiconductor Corp., 0.50%, 03/01/29(i)
|
|
61
|
59,627
|
|
|
|
|
138,178
|
|
Software — 0.8%
|
|||
|
AthenaHealth Group, Inc., 6.50%, 02/15/30(b)
|
|
823
|
772,487
|
|
Capstone Borrower, Inc., 8.00%, 06/15/30(b)
|
|
112
|
107,014
|
|
Central Parent LLC/CDK Global II LLC/CDK Financing
Co., Inc., 8.00%, 06/15/29(b)
|
|
197
|
146,407
|
|
Central Parent, Inc./CDK Global, Inc., 7.25%,
06/15/29(b)
|
|
51
|
36,705
|
|
Security
|
|
Par
(000)
|
Value
|
|
Software (continued)
|
|||
|
Cloud Software Group, Inc.(b)
|
|
|
|
|
6.50%, 03/31/29
|
USD
|
559
|
$ 545,344
|
|
9.00%, 09/30/29
|
|
1,382
|
1,333,179
|
|
Ellucian Holdings, Inc., 6.50%, 12/01/29(b)
|
|
183
|
178,748
|
|
OAK-Eagle Acquireco, Inc.(b)(l)
|
|
|
|
|
07/01/33
|
|
415
|
429,979
|
|
07/01/34
|
|
408
|
427,132
|
|
Oracle Corp., 5.70%, 02/04/36
|
|
240
|
230,757
|
|
Playtika Holding Corp., 4.25%, 03/15/29(b)
|
|
21
|
16,386
|
|
SS&C Technologies, Inc., 6.50%, 06/01/32(b)
|
|
254
|
254,009
|
|
UKG, Inc., 6.88%, 02/01/31(b)
|
|
242
|
236,510
|
|
|
|
|
4,714,657
|
|
Specialty Retail(b) — 0.1%
|
|||
|
Advance Auto Parts, Inc., 7.00%, 08/01/30
|
|
53
|
53,692
|
|
Ferrellgas LP/Ferrellgas Finance Corp., 9.25%, 01/15/31
|
|
63
|
65,642
|
|
Michaels Cos., Inc., 8.50%, 03/15/33
|
|
177
|
172,308
|
|
Staples, Inc., 10.75%, 09/01/29
|
|
45
|
41,617
|
|
Suburban Propane Partners LP/Suburban Energy
Finance Corp., 5.00%, 06/01/31
|
|
29
|
27,285
|
|
|
|
|
360,544
|
|
Technology Hardware, Storage & Peripherals(b) — 0.1%
|
|||
|
Seagate Data Storage Technology Pte. Ltd.
|
|
|
|
|
8.25%, 12/15/29
|
|
54
|
56,710
|
|
5.88%, 07/15/30
|
|
172
|
174,828
|
|
8.50%, 07/15/31
|
|
76
|
79,682
|
|
5.75%, 12/01/34
|
|
29
|
28,891
|
|
|
|
|
340,111
|
|
Textiles, Apparel & Luxury Goods(b) — 0.1%
|
|||
|
Beach Acquisition Bidco LLC
|
|
|
|
|
5.25%, 07/15/32
|
EUR
|
200
|
221,713
|
|
(10.00% Cash or 10.75% PIK), 10.00%, 07/15/33(f)
|
USD
|
252
|
268,296
|
|
Crocs, Inc.
|
|
|
|
|
4.25%, 03/15/29
|
|
57
|
54,710
|
|
4.13%, 08/15/31
|
|
13
|
11,698
|
|
|
|
|
556,417
|
|
Transportation Infrastructure — 0.0%
|
|||
|
RXO, Inc., 6.38%, 05/15/31(b)
|
|
44
|
42,218
|
|
Wireless Telecommunication Services — 0.3%
|
|||
|
Altice France SA(b)
|
|
|
|
|
6.88%, 10/15/30
|
|
20
|
19,551
|
|
6.50%, 10/15/31
|
|
29
|
27,689
|
|
6.50%, 04/15/32
|
|
492
|
466,204
|
|
6.88%, 07/15/32
|
|
231
|
218,683
|
|
Digicel International Finance Ltd./Difl U.S. LLC, 8.63%,
08/01/32(b)
|
|
435
|
441,437
|
|
Iliad Holding SAS(b)
|
|
|
|
|
7.00%, 10/15/28
|
|
200
|
201,291
|
|
8.50%, 04/15/31
|
|
250
|
261,578
|
|
T-Mobile USA, Inc.
|
|
|
|
|
3.38%, 04/15/29
|
|
67
|
64,931
|
|
3.50%, 04/15/31
|
|
26
|
24,590
|
|
Security
|
|
Par
(000)
|
Value
|
|
Wireless Telecommunication Services (continued)
|
|||
|
Vmed O2 U.K. Financing I PLC(b)
|
|
|
|
|
4.25%, 01/31/31
|
USD
|
200
|
$ 171,768
|
|
4.75%, 07/15/31
|
|
200
|
172,073
|
|
|
|
|
2,069,795
|
|
Total Corporate Bonds — 23.2%
(Cost: $153,002,974)
|
143,034,789
|
||
|
Fixed Rate Loan Interests
|
|||
|
Distributors — 0.0%
|
|||
|
TMK Hawk Parent Corp., 2024 PIK Term Loan, 11.00%,
12/15/31(c)(f)
|
|
68
|
—
|
|
IT Services — 0.2%
|
|||
|
Clover Holdings 2 LLC, Fixed Term Loan B, 7.75%,
12/09/31
|
|
1,304
|
1,227,165
|
|
Software — 0.2%
|
|||
|
Cotiviti, Inc., 2024 Fixed Term Loan B, 7.63%, 05/01/31
|
|
1,037
|
964,610
|
|
Total Fixed Rate Loan Interests — 0.4%
(Cost: $2,409,360)
|
2,191,775
|
||
|
Floating Rate Loan Interests(a)
|
|||
|
Advertising Agencies — 0.2%
|
|||
|
Outfront Media Capital LLC, 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 5.68%,
09/24/32
|
|
738
|
738,465
|
|
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
|
|
246
|
209,271
|
|
|
|
|
947,736
|
|
Aerospace & Defense — 3.0%
|
|||
|
Arcline FM Holdings LLC, 2025 1st Lien Term Loan, (3-
mo. CME Term SOFR at 0.75% Floor + 2.75%),
6.45%, 06/23/30
|
|
850
|
850,241
|
|
Bleriot U.S. Bidco, Inc., 2023 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.50%), 6.20%,
10/31/30
|
|
1,206
|
1,206,389
|
|
Cobham Ultra SeniorCo SARL, USD Term Loan B, (6-
mo. CME Term SOFR + 4.18%), 7.79%, 08/03/29
|
|
828
|
829,131
|
|
Cubic Corp.
|
|
|
|
|
2025 Second Out Term Loan B, (3-mo. CME Term
SOFR at 0.75% Floor + 4.25%), 8.18%, 05/25/29
|
|
3,002
|
596,286
|
|
2025 Second Out Term Loan C, (3-mo. CME Term
SOFR at 0.75% Floor + 1.26%), 4.93%, 05/25/29
|
|
436
|
86,542
|
|
Dynasty Acquisition Co., Inc.
|
|
|
|
|
2024 1st Lien Term Loan B1, (1-mo. CME Term SOFR
at 0.00% Floor + 2.00%), 5.67%, 10/31/31
|
|
2,291
|
2,289,632
|
|
2024 1st Lien Term Loan B2, (1-mo. CME Term SOFR
at 0.00% Floor + 2.00%), 5.67%, 10/31/31
|
|
870
|
869,868
|
|
Kaman Corp.
|
|
|
|
|
2025 Delayed Draw Term Loan, 0.00%, 02/26/32
|
|
11
|
11,124
|
|
2025 Term Loan B, (1-mo. CME Term SOFR at 0.50%
Floor + 2.50%), 6.17%, 02/26/32
|
|
601
|
600,690
|
|
Peraton Corp., Term Loan B, (3-mo. CME Term SOFR at
0.75% Floor + 3.85%), 7.52%, 02/01/28
|
|
1,619
|
1,379,287
|
|
Security
|
|
Par
(000)
|
Value
|
|
Aerospace & Defense (continued)
|
|||
|
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
|
USD
|
646
|
$ 645,444
|
|
Setanta Aircraft Leasing DAC, 2024 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 1.75%), 5.45%,
11/05/28
|
|
411
|
412,599
|
|
TransDigm, Inc.
|
|
|
|
|
2023 Term Loan J, (1-mo. CME Term SOFR at 0.00%
Floor + 2.50%), 6.17%, 02/28/31
|
|
4,081
|
4,080,990
|
|
2024 Term Loan L, (1-mo. CME Term SOFR at 0.00%
Floor + 2.50%), 6.17%, 01/19/32
|
|
830
|
830,089
|
|
2025 Term Loan K, (1-mo. CME Term SOFR at 0.00%
Floor + 2.25%), 5.92%, 03/22/30
|
|
97
|
97,228
|
|
2025 Term Loan M, (1-mo. CME Term SOFR at 0.00%
Floor + 2.50%), 6.17%, 08/19/32
|
|
2,990
|
2,989,258
|
|
2026 Term Loan N, (1-mo. CME Term SOFR at 0.00%
Floor + 2.50%), 6.17%, 02/13/33
|
|
559
|
559,106
|
|
|
|
|
18,333,904
|
|
Automobile Components — 1.6%
|
|||
|
Allison Transmission, Inc., 2025 Incremental Term Loan
B, (1-mo. CME Term SOFR at 0.00% Floor + 1.75%),
5.42%, 01/02/33
|
|
1,029
|
1,031,573
|
|
Clarios Global LP
|
|
|
|
|
2024 USD Term Loan B, (1-mo. CME Term SOFR +
2.50%), 6.17%, 05/06/30
|
|
3,734
|
3,719,257
|
|
2025 USD Term Loan B, (1-mo. CME Term SOFR at
0.00% Floor + 2.75%), 6.42%, 01/28/32
|
|
1,453
|
1,447,616
|
|
Garrett LX I SARL, 2025 USD Term Loan B, (3-mo. CME
Term SOFR at 0.50% Floor + 2.00%), 5.67%,
01/30/32
|
|
93
|
93,451
|
|
Gates Corp.
|
|
|
|
|
2022 Term Loan B4, (1-mo. CME Term SOFR +
1.75%), 5.42%, 11/16/29
|
|
303
|
302,554
|
|
2024 Term Loan B5, (1-mo. CME Term SOFR +
1.75%), 5.42%, 06/04/31
|
|
1,747
|
1,743,384
|
|
RealTruck Group, Inc.
|
|
|
|
|
2021 Term Loan B, (3-mo. CME Term SOFR +
4.01%), 7.68%, 01/31/28
|
|
192
|
129,055
|
|
2023 Incremental Term Loan, (3-mo. CME Term
SOFR + 5.26%), 8.93%, 01/31/28
|
|
494
|
336,919
|
|
Tenneco, Inc., 2022 Term Loan B, (3-mo. CME Term
SOFR + 5.10%), 8.76%, 11/17/28
|
|
1,361
|
1,324,566
|
|
|
|
|
10,128,375
|
|
Automobiles — 0.3%
|
|||
|
Dealer Tire Financial LLC, 2024 Term Loan B4, (1-mo.
CME Term SOFR at 0.00% Floor + 3.00%), 6.67%,
07/02/31
|
|
1,722
|
1,713,612
|
|
Beverages — 0.4%
|
|||
|
Naked Juice LLC
|
|
|
|
|
2025 FLFO Term Loan, (3-mo. CME Term SOFR at
1.00% Floor + 5.50%), 9.20%, 01/24/29
|
|
1,510
|
1,498,533
|
|
2025 FLSO Term Loan, (3-mo. CME Term SOFR at
0.50% Floor + 3.35%), 7.05%, 01/24/29
|
|
501
|
264,326
|
|
Security
|
|
Par
(000)
|
Value
|
|
Beverages (continued)
|
|||
|
Naked Juice LLC (continued)
|
|
|
|
|
2025 FLTO Term Loan, (3-mo. CME Term SOFR at
0.50% Floor + 6.00%), 9.80%, 01/24/30
|
USD
|
577
|
$ 119,142
|
|
Sazerac Co., Inc., Repriced Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.00%), 5.67%,
07/09/32
|
|
489
|
488,467
|
|
|
|
|
2,370,468
|
|
Biotechnology — 0.6%
|
|||
|
BioMarin Pharmaceutical, Inc., Term Loan B, 01/28/33(m)
|
|
838
|
835,385
|
|
Parexel International Corp., 2025 Repriced Term Loan B,
(1-mo. CME Term SOFR at 0.50% Floor + 2.75%),
6.42%, 12/12/31
|
|
3,141
|
3,127,484
|
|
|
|
|
3,962,869
|
|
Broadline Retail — 0.5%
|
|||
|
Boots Group Finco LP, USD Term Loan, (3-mo. CME
Term SOFR at 0.00% Floor + 3.25%), 6.92%,
08/30/32
|
|
1,154
|
1,156,993
|
|
StubHub Holdco Sub LLC, 2024 Extended Term Loan B,
(1-mo. CME Term SOFR + 4.75%), 8.42%, 03/15/30
|
|
1,933
|
1,898,060
|
|
|
|
|
3,055,053
|
|
Building Materials — 0.2%
|
|||
|
CP Iris HoldCo I, Inc., 2025 Term Loan, (1-mo. CME
Term SOFR at 0.00% Floor + 4.00%), 7.67%,
10/27/32
|
|
1,520
|
1,505,427
|
|
Building Products — 3.5%
|
|||
|
AZZ, Inc., Term Loan B, (1-mo. CME Term SOFR +
1.75%), 5.42%, 05/13/29
|
|
86
|
86,434
|
|
Chariot Buyer LLC, 2025 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.75%), 6.42%,
09/08/32
|
|
2,932
|
2,901,566
|
|
CP Atlas Buyer, Inc., 2025 Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 5.25%), 8.92%, 07/08/30
|
|
1,169
|
1,071,702
|
|
EMRLD Borrower LP
|
|
|
|
|
2024 Term Loan B, (3-mo. CME Term SOFR at 0.00%
Floor + 2.25%), 5.95%, 08/04/31
|
|
1,784
|
1,779,226
|
|
Term Loan B, (3-mo. CME Term SOFR at 0.00% Floor
+ 2.25%), 5.92%, 05/31/30
|
|
2,800
|
2,794,545
|
|
Gibraltar Industries, Inc., 2026 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.25%), 5.92%,
02/02/33(c)
|
|
637
|
632,942
|
|
Gulfside Supply, Inc., Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 3.00%), 6.70%, 06/17/31
|
|
885
|
806,854
|
|
New AMI I LLC, 2022 Term Loan B, (1-mo. CME Term
SOFR at 0.50% Floor + 6.00%), 9.67%, 03/08/29
|
|
428
|
351,290
|
|
Quikrete Holdings, Inc.
|
|
|
|
|
2024 Term Loan B2, (1-mo. CME Term SOFR +
2.25%), 5.92%, 03/19/29
|
|
1,004
|
1,002,923
|
|
2025 Term Loan B, (1-mo. CME Term SOFR at 0.00%
Floor + 2.25%), 5.92%, 02/10/32
|
|
2,206
|
2,200,206
|
|
QXO Building Products, Inc., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 5.67%,
04/30/32
|
|
970
|
966,734
|
|
Standard Industries, Inc., 2021 Term Loan B, (1-mo.
CME Term SOFR + 1.75%), 5.42%, 09/22/28
|
|
444
|
442,901
|
|
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
|
|
3,652
|
3,504,895
|
|
Security
|
|
Par
(000)
|
Value
|
|
Building Products (continued)
|
|||
|
Wilsonart LLC, 2024 Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 4.25%), 7.95%, 08/05/31
|
USD
|
3,117
|
$ 2,703,663
|
|
Zurn LLC, 2021 Term Loan B, (1-mo. CME Term SOFR +
2.11%), 5.78%, 10/04/28
|
|
98
|
98,189
|
|
|
|
|
21,344,070
|
|
Capital Markets — 4.0%
|
|||
|
Allspring Buyer LLC, 2024 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 3.00%), 6.75%,
11/01/30
|
|
605
|
604,952
|
|
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
|
|
2,445
|
2,385,404
|
|
Aretec Group, Inc., 2025 Repriced Term Loan, (1-mo.
CME Term SOFR at 0.00% Floor + 3.00%), 6.67%,
08/09/30
|
|
849
|
836,967
|
|
Ascensus Holdings, Inc., 2024 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 3.00%), 6.67%,
11/25/32
|
|
1,275
|
1,253,083
|
|
Axalta Coating Systems U.S. Holdings, Inc., 2024 Term
Loan B7, (3-mo. CME Term SOFR at 0.50% Floor +
1.75%), 5.45%, 12/20/29
|
|
895
|
895,257
|
|
BCPE Pequod Buyer, Inc., USD Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 2.75%), 6.42%,
11/25/31
|
|
1,433
|
1,388,575
|
|
Chicago U.S. Midco III LP, Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 2.50%), 6.17%, 11/01/32
|
|
1,729
|
1,709,072
|
|
Citadel Securities LP, 2024 First Lien Term Loan, (3-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 5.70%,
10/31/31
|
|
1,982
|
1,982,646
|
|
Edelman Financial Engines Center LLC, 2024 Term
Loan, (1-mo. CME Term SOFR at 0.00% Floor +
3.00%), 6.67%, 04/07/28
|
|
1,238
|
1,236,162
|
|
Focus Financial Partners LLC, 2025 Incremental Term
Loan B, (1-mo. CME Term SOFR at 0.00% Floor +
2.50%), 6.17%, 09/15/31
|
|
2,950
|
2,850,873
|
|
GTCR Everest Borrower, LLC, 2026 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 2.50%), 6.20%,
09/05/31
|
|
467
|
462,768
|
|
Hudson River Trading LLC, 2026 Repriced Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.18%, 03/18/30
|
|
2,395
|
2,383,126
|
|
Jane Street Group LLC, 2024 Term Loan B1, (3-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 5.67%,
12/15/31
|
|
4,533
|
4,445,178
|
|
Jupiter Borrower, Inc., Term Loan B, 03/25/33(c)(m)
|
|
611
|
609,473
|
|
Osaic Holdings, Inc., 2026 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.50%), 6.20%,
07/30/32
|
|
1,837
|
1,800,958
|
|
|
|
|
24,844,494
|
|
Chemicals — 3.3%
|
|||
|
Chemours Co., 2025 USD Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 3.50%), 7.17%,
10/15/32
|
|
2,334
|
2,313,348
|
|
Derby Buyer LLC, 2024 Repriced Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 3.00%), 6.68%,
11/01/30
|
|
1,747
|
1,742,791
|
|
Discovery Purchaser Corp., Term Loan, (3-mo. CME
Term SOFR at 0.50% Floor + 3.75%), 7.42%,
10/04/29
|
|
1,170
|
1,149,492
|
|
Security
|
|
Par
(000)
|
Value
|
|
Chemicals (continued)
|
|||
|
Ecovyst Catalyst Technologies LLC, 2024 Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 2.00%),
5.67%, 06/12/31
|
USD
|
655
|
$ 654,154
|
|
Element Solutions, Inc., 2026 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.42%,
12/18/30
|
|
1,825
|
1,824,588
|
|
Fortis 333, Inc., USD Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 3.50%), 7.17%, 03/29/32
|
|
870
|
843,785
|
|
HB Fuller Co., 2025 Term Loan B, (1-mo. CME Term
SOFR at 0.50% Floor + 1.86%), 5.53%, 02/15/30
|
|
258
|
258,261
|
|
INEOS U.S. Petrochem LLC, 2024 USD Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 4.25%),
7.92%, 10/07/31
|
|
262
|
184,094
|
|
Lonza Group AG, USD Term Loan B, (3-mo. CME Term
SOFR at 0.75% Floor + 4.03%), 7.72%, 07/03/28
|
|
1,209
|
1,052,780
|
|
Minerals Technologies, Inc., 2024 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 5.67%,
11/26/31(c)
|
|
813
|
814,381
|
|
Olympus Water U.S. Holding Corp.
|
|
|
|
|
2024 USD Term Loan, (3-mo. CME Term SOFR at
0.50% Floor + 3.00%), 6.70%, 06/20/31
|
|
2,264
|
2,169,982
|
|
2025 USD Term Loan B, (3-mo. CME Term SOFR at
0.00% Floor + 3.25%), 6.95%, 11/03/32
|
|
1,547
|
1,487,419
|
|
Oxea Corp., 2017 USD Term Loan B2, (3-mo. CME Term
SOFR at 0.00% Floor + 4.85%), 8.50%, 04/08/31
|
|
1,437
|
984,029
|
|
Paint Intermediate III LLC, 2024 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 3.00%), 6.67%,
10/09/31
|
|
502
|
499,383
|
|
Solstice Advanced Materials, Inc., Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 1.75%), 5.42%,
10/29/32
|
|
841
|
844,507
|
|
Sparta U.S. HoldCo LLC, 2024 Term Loan B, (1-mo.
CME Term SOFR at 0.75% Floor + 3.00%), 6.67%,
08/02/30
|
|
1,985
|
1,981,308
|
|
WR Grace Holdings LLC, 2025 Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 3.00%), 6.70%,
08/19/32
|
|
1,540
|
1,533,009
|
|
|
|
|
20,337,311
|
|
Commercial Services & Supplies — 3.3%
|
|||
|
Action Environmental Group, Inc., 2023 Term Loan B,
(3-mo. CME Term SOFR + 3.00%), 6.69%, 10/24/30
|
|
799
|
794,708
|
|
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
|
|
4,382
|
4,379,824
|
|
Anticimex International AB, 2025 USD Term Loan, (3-mo.
SOFR + 2.90%), 6.56%, 11/17/31
|
|
606
|
605,770
|
|
Aramark Services, Inc., 2025 Term Loan, (1-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.42%,
06/22/30
|
|
931
|
931,169
|
|
Asplundh Tree Expert LLC, 2021 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 1.85%), 5.52%,
09/07/27
|
|
1,809
|
1,809,566
|
|
Citrin Cooperman Advisors LLC, 2025 Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 3.00%),
6.70%, 04/01/32
|
|
1,415
|
1,356,593
|
|
Clean Harbors, Inc., 2025 Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 1.50%), 5.17%, 10/08/32
|
|
547
|
549,910
|
|
Grant Thornton Advisors LLC, 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.75%), 6.42%,
06/02/31
|
|
1,464
|
1,360,581
|
|
Security
|
|
Par
(000)
|
Value
|
|
Commercial Services & Supplies (continued)
|
|||
|
Innio Group Holding GmbH, 2026 USD Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 2.00%),
5.66%, 11/02/31
|
USD
|
1,345
|
$ 1,330,709
|
|
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
|
|
118
|
117,708
|
|
Novelis Holdings, Inc., 2025 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.45%,
03/11/32
|
|
2,199
|
2,197,867
|
|
Packers Holdings LLC, 2025 Takeback Term Loan, (1-
mo. CME Term SOFR at 1.00% Floor + 1.10%),
4.77%, 03/10/31
|
|
136
|
130,527
|
|
Prime Security Services Borrower LLC
|
|
|
|
|
2024 1st Lien Term Loan B, (1-mo. CME Term SOFR
at 0.00% Floor + 2.00%), 5.66%, 10/13/30
|
|
776
|
772,372
|
|
2025 Incremental Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 1.75%), 5.41%, 03/07/32
|
|
2,288
|
2,252,586
|
|
Reworld Holding Corp.
|
|
|
|
|
2025 1st Lien Term Loan C, (1-mo. CME Term SOFR
at 0.50% Floor + 2.25%), 5.93%, 01/15/31
|
|
165
|
164,847
|
|
2025 Term Loan B1, (1-mo. CME Term SOFR at
0.50% Floor + 2.25%), 5.93%, 01/15/31
|
|
1,017
|
1,014,444
|
|
Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor
+ 2.25%), 5.92%, 11/30/28
|
|
775
|
773,766
|
|
|
|
|
20,542,947
|
|
Communications Equipment — 0.2%
|
|||
|
Ciena Corp., 2025 Repriced Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.43%,
10/24/30
|
|
1,227
|
1,226,450
|
|
Radiate Holdco LLC
|
|
|
|
|
2025 Delayed Draw Term Loan, (1-mo. CME Term
SOFR at 1.00% Floor + 4.00%), 7.67%, 06/26/29
|
|
32
|
31,736
|
|
2025 Term Loan, (1-mo. CME Term SOFR at 1.00%
Floor + 4.00%), 7.67%, 06/26/29
|
|
32
|
31,737
|
|
|
|
|
1,289,923
|
|
Construction & Engineering — 0.9%
|
|||
|
Azuria Water Solutions, Inc.
|
|
|
|
|
2026 Delayed Draw Term Loan, 01/27/33(m)
|
|
151
|
149,840
|
|
2026 Term Loan B, (3-mo. CME Term SOFR at 0.00%
Floor + 2.75%), 6.42%, 01/27/33
|
|
1,137
|
1,123,801
|
|
Brand Industrial Services, Inc., 2024 Term Loan B, (3-
mo. CME Term SOFR at 0.50% Floor + 4.50%),
8.16%, 08/01/30
|
|
2,239
|
1,916,166
|
|
Construction Partners, Inc., Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.50%), 6.17%,
11/03/31
|
|
536
|
534,882
|
|
Dycom Investments, Inc., 2026 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 1.75%), 5.42%,
01/27/33
|
|
720
|
722,102
|
|
Legence Holdings LLC, 2025 Repriced Term Loan B,
(1-mo. CME Term SOFR at 0.75% Floor + 2.25%),
5.92%, 12/16/31
|
|
1,257
|
1,258,259
|
|
|
|
|
5,705,050
|
|
Consumer Discretionary — 0.1%
|
|||
|
Element Materials Technology Group U.S. Holdings, Inc.,
2022 USD Term Loan, (3-mo. CME Term SOFR at
0.50% Floor + 3.50%), 7.20%, 07/06/29
|
|
665
|
666,642
|
|
Security
|
|
Par
(000)
|
Value
|
|
Consumer Staples Distribution & Retail — 0.7%
|
|||
|
BCPE Empire Holdings, Inc., 2026 10th Amendment
Term Loan, (1-mo. CME Term SOFR + 3.50%),
7.17%, 12/29/32
|
USD
|
2,432
|
$ 2,390,972
|
|
EG America LLC, 2026 Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 3.25%), 6.92%, 02/10/31
|
|
1,332
|
1,331,001
|
|
U.S. Foods, Inc., 2024 1st Lien Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 1.75%), 5.42%,
10/03/31
|
|
616
|
620,477
|
|
|
|
|
4,342,450
|
|
Containers & Packaging — 2.7%
|
|||
|
Charter NEX US, Inc., 2025 Repriced Term Loan B, (1-
mo. CME Term SOFR at 0.75% Floor + 2.50%),
6.17%, 11/29/30
|
|
3,400
|
3,375,871
|
|
Clydesdale Acquisition Holdings, Inc.
|
|
|
|
|
2025 Term Loan B, (1-mo. CME Term SOFR at 0.00%
Floor + 3.25%), 6.92%, 04/01/32
|
|
1,797
|
1,673,983
|
|
Term Loan B, (1-mo. CME Term SOFR + 3.18%),
6.84%, 04/13/29
|
|
190
|
180,823
|
|
Colossus Acquireco LLC, Term Loan B, (3-mo. SOFR +
1.75%), 5.38%, 07/30/32
|
|
2,550
|
2,539,728
|
|
Graham Packaging Co., Inc., 2026 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.25%), 5.92%,
01/26/33
|
|
1,323
|
1,307,931
|
|
LABL, Inc., 2021 USD 1st Lien Term Loan, 0.00%,
10/30/28(g)
|
|
1,630
|
738,960
|
|
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
|
|
1,225
|
1,181,684
|
|
Potters Industries LLC, 2025 Repriced Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.17%, 12/23/32
|
|
806
|
804,654
|
|
Pregis TopCo LLC, 2025 Refinancing Term Loan, (1-mo.
CME Term SOFR at 0.00% Floor + 4.00%), 7.67%,
02/01/29
|
|
1,464
|
1,461,038
|
|
Proampac PG Borrower LLC, 2026 USD Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 4.11%),
7.78%, 03/07/33
|
|
1,044
|
1,005,723
|
|
Reynolds Consumer Products LLC, 2025 Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 1.75%),
5.42%, 03/04/32
|
|
244
|
244,495
|
|
Ring Container Technologies Group LLC, 2025 Term
Loan B, (1-mo. CME Term SOFR at 0.50% Floor +
2.50%), 6.17%, 09/15/32
|
|
1,116
|
1,104,185
|
|
Trident TPI Holdings, Inc., 2024 Term Loan B7, (3-mo.
CME Term SOFR at 0.50% Floor + 3.75%), 7.45%,
09/15/28
|
|
861
|
813,793
|
|
|
|
|
16,432,868
|
|
Distributors — 0.9%
|
|||
|
American Builders & Contractors Supply Co., Inc.,
2024 Term Loan B, (1-mo. CME Term SOFR at 0.00%
Floor + 1.75%), 5.42%, 01/31/31
|
|
1,426
|
1,424,707
|
|
Core & Main LP
|
|
|
|
|
2024 Term Loan D, (1-mo. CME Term SOFR at 0.00%
Floor + 2.00%), 5.68%, 07/27/28
|
|
2,964
|
2,961,527
|
|
2024 Term Loan E, (1-mo. CME Term SOFR at 0.00%
Floor + 2.00%), 5.68%, 02/09/31(c)
|
|
692
|
691,946
|
|
Herc Holdings, Inc., 2026 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.43%,
06/02/32
|
|
276
|
276,424
|
|
|
|
|
5,354,604
|
|
Security
|
|
Par
(000)
|
Value
|
|
Diversified Consumer Services — 0.6%
|
|||
|
Bright Horizons Family Solutions LLC, 2025 Term Loan
B, (1-mo. CME Term SOFR at 0.50% Floor + 1.75%),
5.42%, 08/23/32
|
USD
|
1,139
|
$ 1,136,573
|
|
OMNIA Partners LLC, 2024 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.75%), 6.43%,
12/31/32
|
|
526
|
525,121
|
|
PG Investment Co. 59 SARL, 2025 Repriced Term Loan
B, (3-mo. CME Term SOFR at 0.00% Floor + 2.25%),
5.95%, 03/26/31
|
|
543
|
542,047
|
|
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
|
|
1,824
|
1,806,926
|
|
|
|
|
4,010,667
|
|
Diversified REITs — 0.1%
|
|||
|
RHP Hotel Properties LP, 2024 1st Lien Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 1.75%),
5.42%, 05/20/30
|
|
435
|
433,753
|
|
Diversified Telecommunication Services — 1.6%
|
|||
|
Cogeco Financing 2 LP, 2023 Incremental Term Loan B,
(1-mo. CME Term SOFR + 2.61%), 6.28%, 09/01/28
|
|
209
|
199,239
|
|
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
|
|
3,332
|
3,328,535
|
|
Orbcomm, Inc., Term Loan B, (1-mo. CME Term SOFR
at 0.75% Floor + 4.51%), 8.10%, 09/01/28
|
|
502
|
461,988
|
|
Sunrise Financing Partnership, Term Loan AAA, (6-mo.
CME Term SOFR at 0.00% Floor + 2.47%), 6.10%,
02/15/32
|
|
502
|
498,079
|
|
Virgin Media Bristol LLC, 2020 USD Term Loan Q, (1-
mo. CME Term SOFR + 3.36%), 7.04%, 01/31/29
|
|
1,212
|
1,165,411
|
|
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(f)
|
|
4,117
|
4,035,565
|
|
|
|
|
9,688,817
|
|
Electric Utilities — 0.8%
|
|||
|
NRG Energy, Inc., 2024 Term Loan, (3-mo. CME Term
SOFR at 0.00% Floor + 1.85%), 5.52%, 04/16/31
|
|
2,799
|
2,801,515
|
|
Talen Energy Supply LLC, 2024-1 Incremental Term
Loan, (3-mo. CME Term SOFR at 0.00% Floor +
2.50%), 6.15%, 12/15/31
|
|
604
|
604,852
|
|
Vistra Operations Co. LLC, 1st Lien Term Loan B3, (1-
mo. CME Term SOFR + 1.75%), 5.42%, 12/20/30
|
|
1,469
|
1,470,315
|
|
|
|
|
4,876,682
|
|
Electronic Equipment, Instruments & Components — 0.4%
|
|||
|
Celestica, Inc., 2024 Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 1.75%), 5.43%, 06/20/31(c)
|
|
827
|
826,231
|
|
Coherent Corp., 2025 Term Loan B2, (1-mo. CME Term
SOFR at 0.50% Floor + 1.75%), 5.42%, 07/02/29
|
|
783
|
782,591
|
|
Sanmina Corp., Term Loan B, (1-mo. CME Term SOFR
at 0.00% Floor + 2.00%), 5.67%, 10/27/32(c)
|
|
1,032
|
1,030,710
|
|
|
|
|
2,639,532
|
|
Energy Equipment & Services — 0.0%
|
|||
|
Deep Blue Operating I LLC, Term Loan, (1-mo. CME
Term SOFR at 0.00% Floor + 2.75%), 6.42%,
10/01/32(c)
|
|
321
|
321,803
|
|
Security
|
|
Par
(000)
|
Value
|
|
Entertainment — 3.5%
|
|||
|
Creative Artists Agency LLC, 2025 Repriced Term Loan
B, (1-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.17%, 10/01/31
|
USD
|
2,537
|
$ 2,532,813
|
|
Delta 2 Lux SARL, 2024 Term Loan B1, (3-mo. CME
Term SOFR at 0.50% Floor + 1.75%), 5.45%,
09/30/31
|
|
2,568
|
2,560,355
|
|
DK Crown Holdings, Inc., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 1.75%), 5.42%,
03/04/32
|
|
1,925
|
1,921,456
|
|
Electronic Arts, Inc., USD Term Loan B, 03/24/33(m)
|
|
3,810
|
3,786,187
|
|
EOC Borrower LLC, Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 2.75%), 6.42%, 03/24/32
|
|
3,097
|
3,081,891
|
|
GVC Holdings Gibraltar Ltd., 2025 Term Loan B5 (2032),
(3-mo. CME Term SOFR at 0.00% Floor + 2.25%),
5.95%, 07/31/32
|
|
327
|
326,728
|
|
Live Nation Entertainment, Inc., 2025 Term Loan B, (1-
mo. CME Term SOFR at 0.00% Floor + 2.00%),
5.67%, 10/21/32
|
|
1,602
|
1,599,983
|
|
Motion Finco SARL, 2024 USD Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 3.50%), 7.20%,
11/12/29
|
|
1,925
|
1,674,919
|
|
TKO Worldwide Holdings LLC, 2025 Term Loan, (3-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 5.66%,
11/21/31
|
|
4,056
|
4,050,467
|
|
|
|
|
21,534,799
|
|
Environmental, Maintenance & Security Service — 0.2%
|
|||
|
JFL-Tiger Acquisition Co., Inc., Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 3.75%), 7.46%,
10/17/30
|
|
620
|
619,004
|
|
Reworld Holding Corp., 2025 1st Lien Term Loan B, (1-
mo. CME Term SOFR at 0.50% Floor + 2.25%),
5.93%, 01/15/31
|
|
364
|
362,952
|
|
|
|
|
981,956
|
|
Financial Services — 3.1%
|
|||
|
ABG Intermediate Holdings 2 LLC, 2024 1st Lien Term
Loan B, (1-mo. CME Term SOFR at 0.00% Floor +
2.25%), 5.92%, 12/21/28
|
|
1,250
|
1,246,407
|
|
Acuren Delaware Holdco, Inc., 2025 Term Loan, (1-mo.
CME Term SOFR at 0.00% Floor + 2.75%), 6.42%,
07/30/31
|
|
389
|
388,193
|
|
Aggreko Holdings, Inc., 2025 USD Term Loan, (3-mo.
CME Term SOFR at 0.50% Floor + 3.00%), 6.66%,
05/21/31
|
|
2,147
|
2,144,050
|
|
Apex Group Treasury LLC, 2025 USD Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 3.50%),
7.17%, 02/27/32
|
|
1,996
|
1,813,230
|
|
APi Group DE, Inc., 2025 Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 1.75%), 5.42%, 01/03/29
|
|
2,642
|
2,638,361
|
|
CPI Holdco B LLC, 2025 Add-on Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 5.67%,
05/19/31
|
|
3,680
|
3,652,365
|
|
Gryphon Acquire NewCo LLC, Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 3.00%), 6.67%,
09/13/32
|
|
877
|
877,219
|
|
Hyperion Refinance SARL, 2025 USD Term Loan B,
(1-mo. CME Term SOFR at 0.50% Floor + 2.75%),
6.42%, 02/15/31
|
|
1,674
|
1,618,727
|
|
LBM Acquisition LLC, 2024 Incremental Term Loan B,
(1-mo. CME Term SOFR at 0.75% Floor + 3.75%),
7.50%, 06/06/31
|
|
810
|
645,878
|
|
Security
|
|
Par
(000)
|
Value
|
|
Financial Services (continued)
|
|||
|
Orion U.S. Finco, Inc., 1st Lien Term Loan, (3-mo. CME
Term SOFR at 0.00% Floor + 3.50%), 7.15%,
10/08/32
|
USD
|
1,158
|
$ 1,145,216
|
|
Sotera Health Holdings LLC, 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.50%), 6.17%,
05/30/31
|
|
1,872
|
1,872,441
|
|
Summit Acquisition, Inc., 2025 Add-on Term Loan, (1-mo.
CME Term SOFR at 0.00% Floor + 3.50%), 7.17%,
10/16/31(c)
|
|
108
|
107,191
|
|
WEX, Inc.
|
|
|
|
|
2024 Term Loan B2, (1-mo. CME Term SOFR at
0.00% Floor + 1.75%), 5.42%, 03/31/28
|
|
321
|
319,124
|
|
2025 Incremental Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 1.75%), 5.42%, 03/05/32
|
|
421
|
416,543
|
|
|
|
|
18,884,945
|
|
Food Products — 1.5%
|
|||
|
Chobani LLC, 2025 Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 2.25%), 5.92%, 10/28/32
|
|
4,144
|
4,141,875
|
|
Froneri U.S., Inc.
|
|
|
|
|
2024 USD Term Loan B4, (6-mo. CME Term SOFR at
0.00% Floor + 2.25%), 5.88%, 09/30/31
|
|
3,218
|
3,149,180
|
|
2025 USD Term Loan B6, (6-mo. CME Term SOFR at
0.00% Floor + 2.25%), 5.88%, 09/30/32
|
|
323
|
316,449
|
|
H-Food Holdings LLC, 2025 Exit Term Loan, (1-mo. CME
Term SOFR at 2.00% Floor + 6.50%), 10.17%,
03/29/30
|
|
135
|
135,601
|
|
Treehouse Foods, Inc., 2026 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 4.25%), 7.92%,
02/11/33
|
|
984
|
978,263
|
|
UTZ Quality Foods LLC, 2025 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.50%), 6.20%,
01/29/32
|
|
481
|
480,281
|
|
Wellness Pet LLC, 2025 Second Out Exchange Term
Loan, (3-mo. CME Term SOFR at 0.75% Floor +
4.01%), 7.71%, 12/31/29
|
|
128
|
17,132
|
|
|
|
|
9,218,781
|
|
Gas Utilities — 0.1%
|
|||
|
BIP PipeCo Holdings LLC, Term Loan B, (2-mo. CME
Term SOFR at 0.00% Floor + 2.00%), 5.65%,
12/06/30
|
|
433
|
433,034
|
|
M6 ETX Holdings II Midco LLC, 2025 1st Lien Term Loan
B, (1-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.17%, 04/01/32
|
|
488
|
489,229
|
|
|
|
|
922,263
|
|
Ground Transportation — 0.7%
|
|||
|
Genesee & Wyoming, Inc., 2024 Term Loan, (3-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.45%,
04/10/31
|
|
3,468
|
3,448,742
|
|
Hertz Corp.
|
|
|
|
|
2021 Term Loan B, (1-mo. CME Term SOFR +
3.61%), 7.28%, 06/30/28
|
|
1,004
|
740,900
|
|
2021 Term Loan C, (1-mo. CME Term SOFR +
3.61%), 7.28%, 06/30/28
|
|
199
|
146,594
|
|
|
|
|
4,336,236
|
|
Health Care Equipment & Supplies — 2.8%
|
|||
|
AthenaHealth Group, Inc., 2022 Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 2.75%), 6.42%,
02/15/29
|
|
2,650
|
2,596,424
|
|
Security
|
|
Par
(000)
|
Value
|
|
Health Care Equipment & Supplies (continued)
|
|||
|
Bausch & Lomb Corporation, 2025 Repriced Term Loan,
(1-mo. CME Term SOFR at 0.00% Floor + 3.75%),
7.42%, 01/15/31
|
USD
|
2,700
|
$ 2,703,696
|
|
Cotiviti, Inc., 2024 Term Loan, (1-mo. CME Term SOFR +
2.75%), 6.42%, 05/01/31
|
|
1,990
|
1,829,849
|
|
Gainwell Acquisition Corp., Term Loan B, (3-mo. CME
Term SOFR at 0.75% Floor + 4.10%), 7.80%,
10/01/27
|
|
595
|
576,492
|
|
Hologic Inc., 2026 USD Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 2.25%), 5.92%, 01/14/33
|
|
5,164
|
5,099,450
|
|
PointClickCare Technologies, Inc., 2025 Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 2.75%),
6.42%, 11/03/31
|
|
707
|
702,902
|
|
Polaris Newco LLC, USD Term Loan B, (3-mo. CME
Term SOFR at 0.50% Floor + 4.26%), 7.93%,
06/02/28
|
|
1,978
|
1,735,377
|
|
QuidelOrtho Corp., Term Loan, (1-mo. CME Term SOFR
at 0.00% Floor + 4.00%), 7.67%, 08/20/32
|
|
1,184
|
1,181,074
|
|
Waystar Technologies, Inc., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 5.67%,
10/22/29(c)
|
|
622
|
619,876
|
|
|
|
|
17,045,140
|
|
Health Care Providers & Services — 2.4%
|
|||
|
ACP Tara Holdings, Inc., 2025 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 3.25%), 6.95%,
12/15/32
|
|
257
|
257,856
|
|
AHP Health Partners, Inc., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 2.25%), 5.92%,
09/20/32
|
|
198
|
198,398
|
|
CHG Healthcare Services, Inc., 2025 Term Loan B1,
(3-mo. CME Term SOFR at 0.50% Floor + 2.75%),
6.45%, 09/29/28
|
|
869
|
869,779
|
|
CNT Holdings I Corp., 2025 Term Loan, (3-mo. CME
Term SOFR at 0.75% Floor + 2.50%), 6.17%,
11/08/32
|
|
1,315
|
1,313,241
|
|
Concentra Health Services, Inc., 2025 Repriced Term
Loan B, (1-mo. CME Term SOFR at 0.00% Floor +
2.00%), 5.67%, 07/26/31
|
|
608
|
609,528
|
|
Examworks Bidco, Inc., 2026 Term Loan B, (1-mo. CME
Term SOFR at 0.50% Floor + 2.50%), 6.17%,
02/06/33
|
|
1,244
|
1,241,243
|
|
EyeCare Partners LLC, 2024 Third Out Term Loan C,
0.00%, 11/30/28(g)
|
|
45
|
7,581
|
|
ICON Luxembourg SARL, 2024 LUX Term Loan B, (3-
mo. CME Term SOFR at 0.50% Floor + 2.00%),
5.70%, 07/03/28
|
|
481
|
480,997
|
|
Ingenovis Health, Inc., Term Loan B, (3-mo. CME Term
SOFR + 4.51%), 8.18%, 03/06/28
|
|
686
|
187,460
|
|
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
|
|
1,055
|
1,054,694
|
|
Medical Solutions Holdings, Inc.
|
|
|
|
|
2021 1st Lien Term Loan, (3-mo. CME Term SOFR at
0.50% Floor + 3.60%), 7.27%, 11/01/28
|
|
535
|
106,017
|
|
2021 2nd Lien Term Loan, (3-mo. CME Term SOFR at
0.50% Floor + 7.10%), 10.77%, 11/01/29
|
|
536
|
42,880
|
|
Medline Borrower LP
|
|
|
|
|
2025 Incremental Term Loan B, (1-mo. CME Term
SOFR at 0.50% Floor + 1.75%), 5.42%, 10/23/30
|
|
1,988
|
1,989,957
|
|
2025 Term Loan B, (1-mo. CME Term SOFR at 0.50%
Floor + 1.75%), 5.42%, 10/23/28
|
|
1,335
|
1,336,799
|
|
Security
|
|
Par
(000)
|
Value
|
|
Health Care Providers & Services (continued)
|
|||
|
Option Care Health, Inc., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 1.75%), 5.42%,
09/22/32
|
USD
|
1,525
|
$ 1,529,794
|
|
Raven Acquisition Holdings LLC, Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 3.00%), 6.67%,
11/19/31
|
|
506
|
495,460
|
|
Star Parent, Inc., Term Loan B, (3-mo. CME Term SOFR
at 0.00% Floor + 4.00%), 7.70%, 09/27/30
|
|
1,239
|
1,223,402
|
|
Surgery Center Holdings, Inc., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.50%), 6.17%,
12/19/30
|
|
1,307
|
1,306,630
|
|
Team Health Holdings, Inc., 2026 Repriced Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 4.00%),
7.66%, 06/30/28
|
|
470
|
468,099
|
|
Vizient, Inc., 2024 Term Loan B, (1-mo. CME Term SOFR
at 0.50% Floor + 1.75%), 5.42%, 08/01/31
|
|
300
|
300,054
|
|
|
|
|
15,019,869
|
|
Hotels, Restaurants & Leisure — 5.2%
|
|||
|
Aimbridge Acquisition Co., Inc.
|
|
|
|
|
2025 1st Lien Second Out Term Loan, (1-mo. CME
Term SOFR at 1.00% Floor + 1.61% and 6.00%
PIK), 11.29%, 03/11/30(f)
|
|
192
|
187,417
|
|
2025 First Out Term Loan, (1-mo. CME Term SOFR at
1.00% Floor + 5.61%), 9.29%, 03/11/30
|
|
203
|
199,376
|
|
Alterra Mountain Co., 2025 Term Loan B8, (1-mo. CME
Term SOFR at 0.00% Floor + 2.50%), 6.17%,
05/31/30(c)
|
|
919
|
917,976
|
|
Burger King (Restaurant Brands International, Inc.)/New
Red Finance, Inc., 2024 Term Loan B6, (1-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.42%,
09/20/30
|
|
1,757
|
1,752,500
|
|
Caesars Entertainment, Inc.
|
|
|
|
|
2024 Term Loan B1, (1-mo. CME Term SOFR +
2.25%), 5.92%, 02/06/31
|
|
2,857
|
2,768,004
|
|
Term Loan B, (1-mo. CME Term SOFR + 2.25%),
5.92%, 02/06/30
|
|
1,066
|
1,034,127
|
|
Crown Finance U.S., Inc., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 4.50%), 8.17%,
12/02/31
|
|
1,122
|
1,109,485
|
|
Fertitta Entertainment LLC, 2022 Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 3.25%), 6.92%,
01/27/29
|
|
3,032
|
2,968,809
|
|
Flutter Financing BV
|
|
|
|
|
2024 Term Loan B, (3-mo. CME Term SOFR at 0.50%
Floor + 1.75%), 5.45%, 11/30/30
|
|
3,437
|
3,393,812
|
|
2025 Term Loan B, (3-mo. CME Term SOFR at 0.50%
Floor + 2.00%), 5.70%, 06/04/32
|
|
1,028
|
1,014,960
|
|
Four Seasons Hotels Ltd., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 1.75%), 5.42%,
09/22/32
|
|
2,776
|
2,791,120
|
|
Great Canadian Gaming Corp., 2024 Term Loan B, (3-
mo. CME Term SOFR at 0.00% Floor + 4.75%),
8.44%, 11/01/29
|
|
750
|
737,369
|
|
Herschend Entertainment Co. LLC, 2026 Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.17%, 05/27/32
|
|
914
|
913,751
|
|
Hilton Domestic Operating Co., Inc., 2023 Term Loan B4,
(1-mo. CME Term SOFR + 1.75%), 5.43%, 11/08/30
|
|
696
|
696,870
|
|
Security
|
|
Par
(000)
|
Value
|
|
Hotels, Restaurants & Leisure (continued)
|
|||
|
IRB Holding Corp., 2025 Term Loan B, (1-mo. CME Term
SOFR at 0.50% Floor + 2.50%), 6.18%, 12/16/30
|
USD
|
1,648
|
$ 1,642,633
|
|
Light & Wonder International, Inc., 2026 Term Loan B,
(1-mo. CME Term SOFR at 0.50% Floor + 2.00%),
5.67%, 04/16/29
|
|
975
|
974,544
|
|
Ontario Gaming GTA LP, Term Loan B, (3-mo. CME Term
SOFR at 0.50% Floor + 4.25%), 7.95%, 08/01/30
|
|
651
|
608,383
|
|
Penn Entertainment, Inc., 2022 Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 2.50%), 6.17%,
05/03/29
|
|
1,021
|
1,022,711
|
|
Scientific Games Holdings LP, 2024 USD Term Loan B,
(3-mo. CME Term SOFR at 0.50% Floor + 3.00%),
6.65%, 04/04/29
|
|
931
|
916,488
|
|
SeaWorld Parks & Entertainment, Inc., 2024 Term Loan
B3, (1-mo. CME Term SOFR at 0.50% Floor + 2.00%),
5.67%, 12/04/31(c)
|
|
457
|
450,602
|
|
Six Flags Entertainment Corp., 2024 Term Loan B, (1-
mo. CME Term SOFR at 0.00% Floor + 2.00%),
5.67%, 05/01/31
|
|
298
|
292,860
|
|
Station Casinos LLC, 2024 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.00%), 5.67%,
03/14/31
|
|
1,865
|
1,862,463
|
|
TRQ Sales LLC, Term Loan B, (3-mo. CME Term SOFR
at 0.00% Floor + 0.19%), 3.89%, 12/30/32
|
|
954
|
922,403
|
|
Voyager Parent LLC, Repriced Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 4.25%), 7.95%,
07/01/32
|
|
1,033
|
1,024,637
|
|
Whatabrands LLC, 2024 1st Lien Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 2.50%), 6.17%,
08/03/28
|
|
843
|
840,604
|
|
Wyndham Hotels & Resorts, Inc., 2024 Term Loan, (1-
mo. CME Term SOFR at 0.00% Floor + 1.75%),
5.42%, 05/24/30
|
|
1,128
|
1,131,178
|
|
|
|
|
32,175,082
|
|
Household Durables — 0.4%
|
|||
|
Madison Safety & Flow LLC, 2025 1st Lien Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.18%, 09/26/31
|
|
452
|
451,891
|
|
Somnigroup International, Inc., Term Loan B, (1-mo.
SOFR + 2.25%), 5.88%, 10/24/31
|
|
376
|
376,464
|
|
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
|
|
102
|
101,067
|
|
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
|
|
153
|
151,601
|
|
Weber-Stephen Products LLC, 2025 Term Loan B, (3-
mo. CME Term SOFR at 0.00% Floor + 3.75%),
7.41%, 10/01/32
|
|
1,428
|
1,393,014
|
|
|
|
|
2,474,037
|
|
Household Products — 0.2%
|
|||
|
Lavender US HoldCo 1, Inc., USD Term Loan, (3-mo.
CME Term SOFR at 0.00% Floor + 3.25%), 6.95%,
12/30/32
|
|
997
|
980,654
|
|
Security
|
|
Par
(000)
|
Value
|
|
Independent Power and Renewable Electricity Producers — 0.7%
|
|||
|
Calpine Construction Finance Co. LP, 2025 Repriced
Term Loan B, (1-mo. CME Term SOFR at 0.00% Floor
+ 1.75%), 5.42%, 07/31/30
|
USD
|
2,187
|
$ 2,187,097
|
|
Constellation Renewables LLC, 2020 Term Loan, (3-mo.
CME Term SOFR at 1.00% Floor + 2.00%), 5.67%,
12/15/27
|
|
1,112
|
1,111,864
|
|
Talen Energy Supply LLC, 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 5.67%,
11/25/32
|
|
1,229
|
1,228,699
|
|
|
|
|
4,527,660
|
|
Industrial Conglomerates — 1.1%
|
|||
|
Beach Acquisition Bidco LLC, USD Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 3.25%), 6.95%,
09/12/32
|
|
639
|
640,197
|
|
Chromalloy Corp., 2024 Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 3.25%), 6.91%, 03/27/31
|
|
480
|
479,774
|
|
CoorsTek, Inc., Term Loan B, (3-mo. CME Term SOFR at
0.00% Floor + 3.00%), 6.67%, 10/28/32
|
|
539
|
540,670
|
|
Fluid-Flow Products, Inc., 2026 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 3.25%), 6.92%,
03/04/33
|
|
188
|
187,765
|
|
Heritage Environmental Services, Inc., 2026 Term Loan
B, (3-mo. CME Term SOFR at 0.00% Floor + 3.00%),
6.68%, 04/01/33(c)
|
|
410
|
410,000
|
|
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
|
|
640
|
640,040
|
|
Pinnacle Buyer LLC, Term Loan, (3-mo. CME Term
SOFR at 0.00% Floor + 2.50%), 6.16%, 10/01/32
|
|
871
|
871,109
|
|
Resideo Funding, Inc., 2025 Incremental Term Loan,
(3-mo. CME Term SOFR at 0.00% Floor + 2.00%),
5.67%, 08/13/32
|
|
1,011
|
1,007,129
|
|
Resilience Parent LLC, 1st Lien Term Loan, (6-mo. CME
Term SOFR at 0.00% Floor + 2.50%), 6.10%,
02/28/33
|
|
1,942
|
1,930,464
|
|
Stitch Acquisition Corp., 2024 2nd Out Term Loan, (3-mo.
CME Term SOFR + 7.50%), 11.46%, 12/31/29(c)
|
|
224
|
181,377
|
|
|
|
|
6,888,525
|
|
Insurance — 5.2%
|
|||
|
Alliant Holdings Intermediate LLC, 2025 Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.17%, 09/19/31
|
|
6,717
|
6,658,493
|
|
AmWINS Group, Inc., 2026 Term Loan B, (1-mo. CME
Term SOFR at 0.75% Floor + 2.00%), 5.67%,
01/30/32
|
|
2,564
|
2,543,862
|
|
Amynta Agency Borrower, Inc., 2026 Repriced Term
Loan B, (1-mo. CME Term SOFR at 0.00% Floor +
2.50%), 6.17%, 12/29/31
|
|
2,421
|
2,382,263
|
|
Asurion LLC, 2025 Term Loan B13, (1-mo. CME Term
SOFR at 0.00% Floor + 4.25%), 7.92%, 09/19/30
|
|
1,682
|
1,660,826
|
|
Baldwin Insurance Group Holdings LLC, 2025 Term Loan
B2, (1-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.18%, 05/26/31
|
|
950
|
932,833
|
|
HUB International Ltd., 2025 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.25%), 5.92%,
06/20/30
|
|
4,393
|
4,380,846
|
|
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
|
|
2,197
|
2,131,580
|
|
Security
|
|
Par
(000)
|
Value
|
|
Insurance (continued)
|
|||
|
OneDigital Borrower LLC, 2025 Repriced Term Loan,
(1-mo. CME Term SOFR at 0.50% Floor + 3.00%),
6.67%, 07/02/31
|
USD
|
213
|
$ 205,837
|
|
Ryan Specialty LLC, 2024 USD Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 5.67%,
09/15/31
|
|
1,739
|
1,734,713
|
|
Truist Insurance Holdings LLC
|
|
|
|
|
2024 Term Loan B, (3-mo. CME Term SOFR at 0.00%
Floor + 2.75%), 6.45%, 05/06/31
|
|
3,456
|
3,402,604
|
|
2nd Lien Term Loan, (3-mo. CME Term SOFR at
0.00% Floor + 4.75%), 8.45%, 05/06/32
|
|
476
|
470,289
|
|
USI, Inc.
|
|
|
|
|
2024 Term Loan C, (3-mo. CME Term SOFR at 0.00%
Floor + 2.25%), 5.95%, 09/29/30
|
|
1,749
|
1,742,364
|
|
2024 Term Loan D, (3-mo. CME Term SOFR at 0.00%
Floor + 2.25%), 5.95%, 11/21/29
|
|
3,598
|
3,586,598
|
|
|
|
|
31,833,108
|
|
Interactive Media & Services — 0.1%
|
|||
|
Camelot U.S. Acquisition LLC, 2024 Term Loan B, (1-mo.
CME Term SOFR + 2.75%), 6.42%, 01/31/31
|
|
583
|
501,896
|
|
Internet Software & Services — 0.0%
|
|||
|
Gen Digital, Inc., 2025 Term Loan B, (1-mo. CME Term
SOFR at 0.50% Floor + 1.75%), 5.42%, 04/16/32
|
|
287
|
281,994
|
|
IT Services — 2.9%
|
|||
|
Asurion LLC
|
|
|
|
|
2021 Second Lien Term Loan B4, (1-mo. CME Term
SOFR + 5.36%), 9.03%, 01/20/29
|
|
374
|
371,269
|
|
2023 Term Loan B11, (1-mo. CME Term SOFR at
0.00% Floor + 4.35%), 8.02%, 08/19/28
|
|
131
|
131,139
|
|
2024 Term Loan B12, (1-mo. CME Term SOFR at
0.00% Floor + 4.25%), 7.92%, 09/19/30
|
|
828
|
818,677
|
|
2026 Term Loan B14, (1-mo. CME Term SOFR at
0.00% Floor + 3.75%), 7.42%, 02/23/33
|
|
740
|
714,566
|
|
Central Parent LLC, 2024 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 3.25%), 6.95%,
07/06/29
|
|
2,320
|
1,647,185
|
|
Clearwater Analytics LLC, 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 5.67%,
04/21/32
|
|
956
|
955,000
|
|
Epicor Software Corp., 2024 Term Loan F, (1-mo. CME
Term SOFR at 0.75% Floor + 2.50%), 6.17%,
05/30/31
|
|
2,602
|
2,549,086
|
|
Galileo Parent, Inc., 1st Lien Term Loan, (3-mo. CME
Term SOFR at 0.00% Floor + 4.50%), 8.17%,
03/03/33
|
|
769
|
752,659
|
|
Go Daddy Operating Co. LLC, 2024 Term Loan B8, (1-
mo. CME Term SOFR at 0.00% Floor + 1.75%),
5.42%, 11/09/29
|
|
1,233
|
1,213,480
|
|
ION Platform Finance U.S., Inc., USD Term Loan, (3-mo.
CME Term SOFR at 0.00% Floor + 3.75%), 7.45%,
10/07/32
|
|
2,912
|
2,328,351
|
|
Iron Mountain, Inc., 2023 Term Loan B, 01/31/31(m)
|
|
640
|
635,200
|
|
Modena Buyer LLC, Term Loan, (3-mo. CME Term
SOFR at 0.00% Floor + 4.25%), 7.92%, 07/01/31
|
|
604
|
540,392
|
|
Project Boost Purchaser LLC, 2025 Refinancing Term
Loan, (3-mo. CME Term SOFR at 0.00% Floor +
2.75%), 6.45%, 07/16/31
|
|
1,676
|
1,612,646
|
|
Security
|
|
Par
(000)
|
Value
|
|
IT Services (continued)
|
|||
|
Sedgwick Claims Management Services, Inc., 2023 Term
Loan B, (1-mo. CME Term SOFR at 0.00% Floor +
2.50%), 6.17%, 07/31/31
|
USD
|
3,175
|
$ 3,113,344
|
|
Shift4 Payments, LLC, 2025 Repriced Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 2.00%),
5.65%, 07/03/32
|
|
588
|
585,694
|
|
|
|
|
17,968,688
|
|
Leisure Products — 0.3%
|
|||
|
Bombardier Recreational Products, Inc., 2024 Term Loan
B4, (1-mo. CME Term SOFR at 0.00% Floor + 2.25%),
5.92%, 01/22/31
|
|
553
|
553,131
|
|
City Football Group Ltd., 2024 Term Loan, (1-mo. CME
Term SOFR at 0.50% Floor + 3.50%), 7.96%,
07/22/30
|
|
1,184
|
1,178,970
|
|
|
|
|
1,732,101
|
|
Machinery — 3.4%
|
|||
|
AI Aqua Merger Sub, Inc., 2026 Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 2.75%), 6.29%,
07/31/28
|
|
1,950
|
1,943,954
|
|
Chart Industries, Inc., 2024 Term Loan B, (3-mo. CME
Term SOFR + 2.50%), 6.16%, 03/15/30
|
|
472
|
471,190
|
|
Columbus McKinnon Corp., 2026 Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 3.50%), 7.20%,
02/03/33
|
|
1,345
|
1,338,122
|
|
CompoSecure Holdings LLC, Term Loan, (1-mo. CME
Term SOFR at 0.00% Floor + 2.25%), 5.93%,
01/14/33
|
|
2,038
|
2,029,094
|
|
Filtration Group Corp., 2025 USD Term Loan, (1-mo.
CME Term SOFR at 0.50% Floor + 2.50%), 6.17%,
10/21/28
|
|
2,867
|
2,866,081
|
|
Generac Power Systems, Inc., 2024 Term Loan B, (1-
mo. CME Term SOFR at 0.00% Floor + 1.75%),
5.42%, 07/03/31
|
|
286
|
287,078
|
|
GrafTech Global Enterprises, Inc., 2024 Term Loan, (3-
mo. CME Term SOFR at 2.00% Floor + 6.00%),
9.67%, 12/21/29
|
|
25
|
23,947
|
|
Indicor LLC, 2026 USD Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 2.50%), 6.20%, 11/22/29
|
|
789
|
788,726
|
|
LSF12 Helix Parent LLC, USD Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 3.50%), 7.17%,
02/10/33
|
|
1,325
|
1,305,659
|
|
Madison IAQ LLC, Term Loan, (6-mo. CME Term SOFR
at 0.50% Floor + 2.50%), 6.13%, 06/21/28
|
|
3,162
|
3,158,899
|
|
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
|
|
103
|
98,488
|
|
Tega MC Australia Holdings Pty. Ltd., Term Loan B,
03/25/33(c)(m)
|
|
610
|
605,425
|
|
TK Elevator U.S. Newco, Inc., 2025 USD Term Loan B,
(6-mo. CME Term SOFR at 0.50% Floor + 2.75%),
6.38%, 04/30/30
|
|
3,204
|
3,208,717
|
|
WEC U.S. Holdings Ltd., 2024 Term Loan, (1-mo. CME
Term SOFR at 0.00% Floor + 2.00%), 5.67%,
01/27/31
|
|
2,632
|
2,625,946
|
|
|
|
|
20,751,326
|
|
Media — 2.2%
|
|||
|
Altice France SA, 2025 USD Term Loan B14, (3-mo.
CME Term SOFR at 0.00% Floor + 6.88%), 10.55%,
05/31/31
|
|
1,551
|
1,552,269
|
|
Security
|
|
Par
(000)
|
Value
|
|
Media (continued)
|
|||
|
Charter Communications Operating LLC
|
|
|
|
|
2023 Term Loan B4, (3-mo. CME Term SOFR at
0.00% Floor + 2.00%), 5.66%, 12/07/30
|
USD
|
1,225
|
$ 1,222,956
|
|
2024 Term Loan B5, (3-mo. CME Term SOFR at
0.00% Floor + 2.25%), 5.91%, 12/15/31
|
|
855
|
854,248
|
|
Clear Channel Outdoor Holdings, Inc., 2024 Term Loan,
(1-mo. CME Term SOFR at 0.00% Floor + 4.11%),
7.78%, 08/23/28
|
|
643
|
644,233
|
|
CSC Holdings LLC, 2019 Term Loan B5, (Prime +
1.50%), 8.25%, 04/15/27
|
|
2,932
|
2,576,962
|
|
ECL Entertainment LLC, 2025 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 3.00%), 6.67%,
08/30/30
|
|
937
|
930,153
|
|
Gray Media, Inc., 2024 Term Loan B, (1-mo. CME Term
SOFR + 5.25%), 8.92%, 06/04/29
|
|
4
|
4,392
|
|
Learfield Communications LLC, 2024 Term Loan B, (1-
mo. CME Term SOFR at 0.00% Floor + 4.50%),
8.17%, 06/30/28
|
|
539
|
539,306
|
|
NEP Group, Inc., 2025 Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 4.50%), 8.17%, 10/17/31
|
|
1,435
|
1,294,269
|
|
Nexstar Broadcasting, Inc., 2026 Term Loan B7, (1-mo.
CME Term SOFR at 0.00% Floor + 2.75%), 6.40%,
03/18/33
|
|
828
|
817,998
|
|
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(f)
|
|
2,806
|
2,489,269
|
|
Telenet Financing USD LLC, 2020 USD Term Loan AR,
(1-mo. CME Term SOFR at 0.00% Floor + 2.11%),
5.79%, 04/28/28
|
|
560
|
552,418
|
|
|
|
|
13,478,473
|
|
Metals & Mining — 0.2%
|
|||
|
Covia Holdings LLC, 2025 Repriced Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 2.75%), 6.40%,
02/26/32
|
|
1,346
|
1,341,983
|
|
Multi-Utilities — 0.4%
|
|||
|
GFL ES US LLC, 2025 Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 2.50%), 6.17%, 03/03/32
|
|
2,444
|
2,442,205
|
|
Oil, Gas & Consumable Fuels — 1.5%
|
|||
|
Blackfin Pipeline LLC, Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 3.00%), 6.67%, 09/29/32
|
|
470
|
471,730
|
|
Buckeye Partners LP, 2025 Term Loan B7, (1-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.42%,
11/22/32
|
|
478
|
478,847
|
|
Freeport LNG Investments, LLLP, 2026 Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 3.25%),
6.89%, 02/11/33
|
|
1,681
|
1,679,605
|
|
GIP Pilot Acquisition Partners LP, 2025 Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 2.00%),
5.65%, 10/04/30
|
|
237
|
237,066
|
|
Hilcorp Energy I LP, Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 1.75%), 5.43%, 02/11/30(c)
|
|
685
|
684,224
|
|
Meade Pipeline Co. LLC, Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.00%), 5.69%,
09/22/32
|
|
482
|
481,195
|
|
Murphy USA, Inc., Term Loan B, (1-mo. CME Term
SOFR at 0.50% Floor + 1.75%), 5.42%, 04/07/32
|
|
312
|
314,656
|
|
NGL Energy Partners LP, 2026 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 3.50%), 7.18%,
03/11/33
|
|
675
|
675,000
|
|
Security
|
|
Par
(000)
|
Value
|
|
Oil, Gas & Consumable Fuels (continued)
|
|||
|
Oryx Midstream Services Permian Basin LLC, 2025 Term
Loan B, (1-mo. CME Term SOFR at 0.50% Floor +
2.25%), 5.93%, 10/05/28
|
USD
|
2,600
|
$ 2,601,035
|
|
TransMontaigne Partners LLC, Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 2.25%), 5.92%,
03/16/30
|
|
516
|
514,750
|
|
Whitewater Matterhorn Holdings LLC, 2026 Term Loan
B, (3-mo. CME Term SOFR at 0.00% Floor + 1.75%),
5.45%, 06/16/32
|
|
867
|
861,959
|
|
|
|
|
9,000,067
|
|
Passenger Airlines — 1.1%
|
|||
|
AAdvantage Loyalty IP Ltd., 2025 Term Loan, (3-mo.
CME Term SOFR at 0.00% Floor + 2.25%), 5.92%,
04/20/28
|
|
810
|
801,013
|
|
Air Canada, 2024 Term Loan B, (3-mo. CME Term SOFR
at 0.00% Floor + 1.75%), 5.42%, 03/21/31
|
|
1,451
|
1,437,429
|
|
American Airlines, Inc.
|
|
|
|
|
Series AA, 2017 1st Lien Term Loan, (3-mo. CME
Term SOFR at 0.00% Floor + 1.85%), 5.52%,
01/29/27
|
|
141
|
140,174
|
|
2023 1st Lien Term Loan, (3-mo. CME Term SOFR at
0.00% Floor + 2.25%), 5.91%, 06/04/29
|
|
1,250
|
1,209,943
|
|
JetBlue Airways Corp., 2024 Term Loan B, (3-mo. CME
Term SOFR at 0.50% Floor + 4.75%), 8.44%,
08/27/29
|
|
1,479
|
1,341,060
|
|
Stonepeak Nile Parent LLC, 2025 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 2.25%), 5.92%,
04/09/32
|
|
663
|
661,698
|
|
United Airlines, Inc., 2026 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.43%,
02/22/31
|
|
1,202
|
1,197,171
|
|
|
|
|
6,788,488
|
|
Pharmaceuticals — 0.9%
|
|||
|
Amneal Pharmaceuticals LLC, 2026 Term Loan, (1-mo.
CME Term SOFR at 0.50% Floor + 3.00%), 6.67%,
08/01/32
|
|
2,015
|
2,019,914
|
|
Elanco Animal Health, Inc., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 1.75%), 5.42%,
10/31/32
|
|
363
|
362,641
|
|
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
|
|
536
|
532,309
|
|
Jazz Financing Lux SARL, 2024 1st Lien Term Loan B2,
(1-mo. CME Term SOFR + 2.25%), 5.92%, 05/05/28
|
|
1,578
|
1,582,790
|
|
Organon & Co., 2024 USD Term Loan, (1-mo. CME Term
SOFR at 0.50% Floor + 2.25%), 5.92%, 05/19/31
|
|
362
|
343,988
|
|
Perrigo Investments LLC, 2024 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 5.67%,
04/20/29
|
|
892
|
885,884
|
|
PRA Health Sciences, Inc., 2024 US Term Loan B, (3-
mo. CME Term SOFR at 0.50% Floor + 2.00%),
5.70%, 07/03/28
|
|
120
|
119,841
|
|
|
|
|
5,847,367
|
|
Professional Services — 1.9%
|
|||
|
AlixPartners LLP, 2025 USD Term Loan, (1-mo. CME
Term SOFR at 0.00% Floor + 2.00%), 5.67%,
08/12/32
|
|
905
|
895,934
|
|
Amentum Holdings, Inc., 2024 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.00%), 5.67%,
09/29/31
|
|
1,247
|
1,246,319
|
|
Security
|
|
Par
(000)
|
Value
|
|
Professional Services (continued)
|
|||
|
CoreLogic, Inc., Term Loan, (1-mo. CME Term SOFR at
0.50% Floor + 3.61%), 7.28%, 06/02/28
|
USD
|
1,616
|
$ 1,542,603
|
|
Corpay Technologies Operating Co. LLC, Term Loan B5,
(1-mo. CME Term SOFR at 0.00% Floor + 1.75%),
5.42%, 04/28/28
|
|
2,053
|
2,051,154
|
|
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(f)
|
|
441
|
378,418
|
|
Trans Union LLC
|
|
|
|
|
2024 Term Loan B8, (3-mo. CME Term SOFR at
0.00% Floor + 1.75%), 5.45%, 06/24/31
|
|
1,864
|
1,852,221
|
|
2024 Term Loan B9, (3-mo. CME Term SOFR at
0.50% Floor + 1.75%), 5.45%, 06/24/31
|
|
974
|
967,873
|
|
Zelis Payments Buyer, Inc.
|
|
|
|
|
5th Amendment Term Loan, (1-mo. CME Term SOFR
at 0.00% Floor + 3.25%), 6.92%, 11/26/31
|
|
1,715
|
1,656,381
|
|
Term Loan B, (1-mo. CME Term SOFR + 2.75%),
6.42%, 09/28/29
|
|
972
|
939,486
|
|
|
|
|
11,530,389
|
|
Real Estate Management & Development — 0.1%
|
|||
|
Cushman & Wakefield U.S. Borrower LLC, 2025 Term
Loan B3, (1-mo. CME Term SOFR at 0.50% Floor +
2.75%), 6.42%, 01/31/30(c)
|
|
492
|
493,628
|
|
Semiconductors & Semiconductor Equipment — 0.5%
|
|||
|
Entegris, Inc., 2023 Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 1.75%), 5.43%, 07/06/29
|
|
759
|
759,574
|
|
Qnity Electronics, Inc., Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 2.00%), 5.67%, 11/01/32
|
|
2,301
|
2,295,479
|
|
|
|
|
3,055,053
|
|
Software — 8.2%
|
|||
|
Applied Systems, Inc., 2024 1st Lien Term Loan, (3-mo.
CME Term SOFR at 0.00% Floor + 2.25%), 5.95%,
02/24/31
|
|
3,385
|
3,314,973
|
|
Avalara, Inc., 2025 Term Loan, (3-mo. CME Term SOFR
at 0.00% Floor + 2.75%), 6.45%, 03/26/32
|
|
1,118
|
1,090,691
|
|
Barracuda Networks, Inc., 2022 Term Loan, (3-mo. CME
Term SOFR at 0.50% Floor + 4.50%), 8.17%,
08/15/29
|
|
987
|
624,480
|
|
Boxer Parent Co., Inc., 2025 USD Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 3.00%), 6.67%,
07/30/31
|
|
3,011
|
2,784,195
|
|
Capstone Borrower, Inc., 2025 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 2.75%), 6.45%,
06/17/30
|
|
640
|
606,891
|
|
CCC Intelligent Solutions, Inc., Term Loan, (1-mo. CME
Term SOFR + 2.00%), 5.67%, 01/23/32
|
|
1,722
|
1,706,664
|
|
Cloud Software Group, Inc.
|
|
|
|
|
2025 Term Loan B (2031), (3-mo. CME Term SOFR at
0.00% Floor + 3.25%), 6.95%, 03/21/31
|
|
2,699
|
2,464,186
|
|
2025 Term Loan B (2032), (3-mo. CME Term SOFR at
0.00% Floor + 3.25%), 6.95%, 08/13/32
|
|
3,555
|
3,241,778
|
|
Cloudera, Inc., 2021 Term Loan, (1-mo. CME Term
SOFR at 0.50% Floor + 3.85%), 7.52%, 10/08/28
|
|
644
|
571,578
|
|
Clover Holdings 2 LLC, Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 4.00%), 7.68%, 12/09/31
|
|
2,304
|
2,203,617
|
|
CoreLogic, Inc., 2nd Lien Term Loan, (1-mo. CME Term
SOFR + 6.61%), 10.28%, 06/04/29
|
|
488
|
453,537
|
|
Darktrace PLC, 1st Lien Term Loan, (3-mo. CME Term
SOFR + 3.25%), 6.90%, 10/09/31
|
|
398
|
380,563
|
|
Dayforce, Inc., 2026 Term Loan, (3-mo. CME Term
SOFR at 0.00% Floor + 3.00%), 6.66%, 02/04/33
|
|
2,385
|
2,253,157
|
|
Security
|
|
Par
(000)
|
Value
|
|
Software (continued)
|
|||
|
DS Admiral Bidco LLC, 2024 Term Loan B, (3-mo. CME
Term SOFR + 4.25%), 7.95%, 06/26/31
|
USD
|
626
|
$ 585,256
|
|
Ellucian Holdings, Inc.
|
|
|
|
|
2024 1st Lien Term Loan B, (1-mo. CME Term SOFR
at 0.50% Floor + 2.50%), 6.17%, 10/08/29
|
|
2,997
|
2,910,176
|
|
2024 2nd Lien Term Loan, (1-mo. CME Term SOFR at
0.50% Floor + 4.75%), 8.42%, 11/22/32
|
|
513
|
489,489
|
|
Gen Digital, Inc., 2024 Term Loan B, (1-mo. CME Term
SOFR + 1.75%), 5.42%, 09/12/29
|
|
2,812
|
2,780,514
|
|
Genesys Cloud Services, Inc., 2025 USD Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.17%, 01/30/32
|
|
2,269
|
2,168,268
|
|
Kaseya, Inc., 2025 1st Lien Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 3.25%), 6.92%,
03/22/32
|
|
3,269
|
3,044,238
|
|
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
|
|
1,601
|
1,424,814
|
|
MH Sub I LLC, 2024 Term Loan B4, (1-mo. CME Term
SOFR at 0.50% Floor + 4.25%), 7.92%, 12/31/31
|
|
524
|
347,025
|
|
Mitchell International, Inc., 2024 2nd Lien Term Loan,
(1-mo. CME Term SOFR + 5.25%), 8.92%, 06/17/32
|
|
405
|
362,389
|
|
MKS Instruments, Inc., 2026 USD Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 1.75%), 5.41%,
02/04/33
|
|
1,326
|
1,326,411
|
|
Ping Identity Corp., 2025 Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 2.75%), 6.42%, 11/15/32(c)
|
|
548
|
540,465
|
|
Proofpoint, Inc., 2025 Repriced Term Loan, (3-mo. CME
Term SOFR at 0.50% Floor + 3.00%), 6.70%,
08/31/28
|
|
3,442
|
3,327,125
|
|
Quartz Acquireco LLC, 2025 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.25%), 5.95%,
06/28/30(c)
|
|
887
|
735,951
|
|
RealPage, Inc., 1st Lien Term Loan, (3-mo. CME Term
SOFR + 3.26%), 6.96%, 04/24/28
|
|
1,633
|
1,561,709
|
|
SS&C Technologies, Inc., 2024 Term Loan B8, (1-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 5.67%,
05/09/31
|
|
2,689
|
2,678,511
|
|
UKG, Inc., 2024 Term Loan B, (3-mo. CME Term SOFR
at 0.00% Floor + 2.50%), 6.17%, 02/10/31
|
|
2,699
|
2,575,365
|
|
VS Buyer LLC, 2025 Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 2.25%), 5.92%, 04/12/31
|
|
2,352
|
2,293,652
|
|
|
|
|
50,847,668
|
|
Specialty Retail — 1.8%
|
|||
|
Belron Finance 2019 LLC, 2026 Repriced Term Loan B,
(3-mo. CME Term SOFR at 0.50% Floor + 2.00%),
5.66%, 10/16/31
|
|
3,122
|
3,118,618
|
|
Hunter Douglas, Inc., 2025 USD Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 3.00%), 6.70%,
01/20/32
|
|
1,968
|
1,956,343
|
|
LS Group OpCo Acquistion LLC, 2025 Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.17%, 04/23/31
|
|
1,194
|
1,190,055
|
|
Mavis Tire Express Services Topco Corp., 2025 Repriced
Term Loan, (1-mo. CME Term SOFR at 0.75% Floor +
3.00%), 6.67%, 05/04/28
|
|
2,945
|
2,940,799
|
|
Peer USA LLC, 2025 USD Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.25%), 5.95%,
10/14/32
|
|
335
|
331,650
|
|
Security
|
|
Par
(000)
|
Value
|
|
Specialty Retail (continued)
|
|||
|
Project Aurora US Finco, Inc., USD Term Loan, (3-mo.
CME Term SOFR at 0.00% Floor + 2.75%), 6.45%,
12/06/32
|
USD
|
240
|
$ 240,000
|
|
Pye-Barker Fire & Safety LLC, 2025 Term Loan, (1-mo.
CME Term SOFR at 0.00% Floor + 2.50%), 6.17%,
12/16/32
|
|
1,105
|
1,105,883
|
|
Restoration Hardware, Inc., 2022 Incremental Term
Loan, (1-mo. CME Term SOFR at 0.50% Floor +
3.35%), 7.02%, 10/20/28
|
|
279
|
276,631
|
|
|
|
|
11,159,979
|
|
Technology Hardware, Storage & Peripherals — 0.5%
|
|||
|
Finastra USA, Inc., 2025 USD Term Loan, (3-mo. CME
Term SOFR at 0.00% Floor + 4.00%), 7.67%,
09/15/32
|
|
3,298
|
3,091,875
|
|
Textiles, Apparel & Luxury Goods — 0.1%
|
|||
|
ABG Intermediate Holdings 2 LLC, 2025 Delayed Draw
Term Loan, (1-mo. CME Term SOFR at 0.00% Floor +
2.25%), 5.92%, 02/13/32
|
|
628
|
624,262
|
|
Tobacco — 0.0%
|
|||
|
Savor Acquisition, Inc., Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 3.00%), 6.67%, 02/19/32
|
|
61
|
60,705
|
|
Trading Companies & Distributors — 0.1%
|
|||
|
TMK Hawk Parent Corp., 2024 Term Loan B, (1-mo.
CME Term SOFR at 1.00% Floor + 4.00%), 7.67%,
07/02/29(c)
|
|
1,938
|
881,565
|
|
Transportation Infrastructure — 1.1%
|
|||
|
Apple Bidco LLC, 2025 Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 2.50%), 6.17%, 09/23/31
|
|
2,825
|
2,824,761
|
|
Brown Group Holding LLC, Term Loan B, (1-mo. CME
Term SOFR at 0.50% Floor + 2.50%), 6.17%,
07/01/31
|
|
1,219
|
1,219,597
|
|
OLA Netherlands BV, Term Loan, (1-mo. CME Term
SOFR at 0.75% Floor + 6.35%), 10.02%, 12/15/26
|
|
715
|
709,442
|
|
Rand Parent LLC, 2025 Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 3.00%), 6.70%, 03/18/30
|
|
1,759
|
1,755,398
|
|
SIRVA Worldwide, Inc., 2024 Term Loan, (3-mo. CME
Term SOFR at 2.00% Floor + 8.00%), 11.66%,
08/20/29
|
|
1,086
|
418,204
|
|
|
|
|
6,927,402
|
|
Wireless Telecommunication Services — 0.5%
|
|||
|
Digicel International Finance Ltd., 2025 Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 5.25%),
8.92%, 08/06/32
|
|
687
|
685,704
|
|
SBA Senior Finance II LLC, 2024 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 1.75%), 5.42%,
01/25/31
|
|
1,342
|
1,346,011
|
|
Windstream Services LLC, 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 4.00%), 7.67%,
10/06/32
|
|
1,286
|
1,284,980
|
|
|
|
|
3,316,695
|
|
Total Floating Rate Loan Interests — 84.8%
(Cost: $539,093,639)
|
523,795,921
|
||
|
Security
|
|
Shares
|
Value
|
|
Investment Companies
|
|||
|
Equity Funds — 5.3%
|
|
||
|
H-Food Holdings, LLC
|
|
8,393
|
$ 155,270
|
|
Invesco Senior Loan ETF
|
|
1,141,200
|
23,291,892
|
|
State Street Blackstone Senior Loan ETF
|
|
235,000
|
9,432,900
|
|
|
|
|
32,880,062
|
|
Fixed Income Funds — 2.7%
|
|
||
|
iShares 0-5 Year Investment Grade Corporate Bond
ETF
|
|
40,000
|
2,019,600
|
|
iShares Broad USD High Yield Corporate Bond ETF(n)
|
|
395,000
|
14,551,800
|
|
|
|
|
16,571,400
|
|
Total Investment Companies — 8.0%
(Cost: $50,522,717)
|
49,451,462
|
||
|
|
|
Par
(000)
|
|
|
Preferred Securities
|
|||
|
Capital Trusts — 0.7%(a)
|
|||
|
Banks(k) — 0.0%
|
|
||
|
Citigroup, Inc., Series GG, 6.88%
|
USD
|
60
|
60,424
|
|
PNC Financial Services Group, Inc., Series W, 6.25%
|
|
30
|
30,263
|
|
|
|
|
90,687
|
|
Capital Markets — 0.0%
|
|
||
|
Apollo Global Management, Inc., 6.00%, 12/15/54
|
|
84
|
78,758
|
|
Electric Utilities — 0.1%
|
|
||
|
AES Corp., 7.60%, 01/15/55
|
|
71
|
70,426
|
|
CenterPoint Energy, Inc., Series B, 6.85%, 02/15/55
|
|
19
|
19,908
|
|
Dominion Energy, Inc., 6.63%, 05/15/55
|
|
15
|
15,230
|
|
Duke Energy Corp., 6.45%, 09/01/54
|
|
33
|
34,077
|
|
NextEra Energy Capital Holdings, Inc., 6.38%, 08/15/55
|
|
55
|
56,031
|
|
PG&E Corp., 6.85%, 09/15/56
|
|
122
|
120,552
|
|
|
|
|
316,224
|
|
Financial Services — 0.3%
|
|
||
|
Bank of America Corp.(k)
|
|
|
|
|
Series OO, 6.63%
|
|
259
|
265,538
|
|
Series U, 6.25%
|
|
92
|
92,554
|
|
Barclays PLC(k)
|
|
|
|
|
4.38%
|
|
200
|
189,641
|
|
9.63%
|
|
200
|
218,151
|
|
Brookfield Finance, Inc., 6.30%, 01/15/55
|
|
125
|
119,730
|
|
Citigroup, Inc.(k)
|
|
|
|
|
Series CC, 7.13%
|
|
117
|
118,150
|
|
Series DD, 7.00%
|
|
45
|
46,313
|
|
Series EE, 6.75%
|
|
100
|
99,955
|
|
Series FF, 6.95%
|
|
40
|
40,297
|
|
Series HH, 6.63%
|
|
90
|
90,068
|
|
Goldman Sachs Group, Inc.(k)
|
|
|
|
|
6.85%
|
|
85
|
86,642
|
|
Series Y, 6.13%
|
|
102
|
101,469
|
|
UBS Group AG(b)(k)
|
|
|
|
|
7.00%
|
|
200
|
194,416
|
|
7.75%
|
|
200
|
206,084
|
|
Series NC10, 9.25%
|
|
200
|
225,248
|
|
|
|
|
2,094,256
|
|
Security
|
|
Par
(000)
|
Value
|
|
Independent Power and Renewable Electricity Producers(b)(k) — 0.1%
|
|
||
|
NRG Energy, Inc., 10.25%
|
USD
|
125
|
$ 134,840
|
|
Vistra Corp., 7.00%
|
|
301
|
301,386
|
|
|
|
|
436,226
|
|
Insurance — 0.0%
|
|
||
|
Corebridge Financial, Inc., 6.38%, 09/15/54
|
|
59
|
57,987
|
|
Multi-Utilities — 0.0%
|
|
||
|
AltaGas Ltd., 7.20%, 10/15/54(b)
|
|
52
|
52,727
|
|
Oil, Gas & Consumable Fuels(k) — 0.2%
|
|
||
|
Energy Transfer LP, Series G, 7.13%
|
|
62
|
63,105
|
|
Sunoco LP, 7.88%(b)
|
|
602
|
614,657
|
|
Venture Global LNG, Inc., 9.00%(b)
|
|
426
|
424,316
|
|
|
|
|
1,102,078
|
|
|
4,228,943
|
||
|
|
|
Shares
|
|
|
Preferred Stocks — 0.0%(d)
|
|||
|
Ground Transportation — 0.0%
|
|
||
|
Sirva BGRS Holdings, Inc., 07/21/30
|
|
382
|
66,794
|
|
IT Services(c) — 0.0%
|
|
||
|
Veritas Newco
|
|
|
|
|
Series G
|
|
1,882
|
35,763
|
|
Series G-1
|
|
1,301
|
24,719
|
|
|
|
|
60,482
|
|
|
127,276
|
||
|
Total Preferred Securities — 0.7%
(Cost: $4,500,594)
|
4,356,219
|
||
|
Warrants
|
|||
|
Energy Equipment & Services — 0.0%
|
|
||
|
Turbo Cayman Ltd., (Strike Price GBP 0.01)(c)(d)
|
|
1
|
—
|
|
Financial Services — 0.0%
|
|
||
|
Service King (Carnelian Point), (Exercisable 01/14/23,
1 Share for 1 Warrant, Expires 06/30/27, Strike Price
USD 10.00)(d)
|
|
2,435
|
—
|
|
Total Warrants — 0.0%
(Cost: $ — )
|
—
|
||
|
Total Long-Term Investments — 118.9%
(Cost: $761,596,618)
|
733,973,589
|
||
|
Short-Term Securities
|
|||
|
Money Market Funds — 0.0%
|
|
||
|
BlackRock Liquidity Funds, T-Fund, Institutional Shares,
3.55%(n)(o)
|
|
147,572
|
147,572
|
|
Total Short-Term Securities — 0.0%
(Cost: $147,572)
|
147,572
|
||
|
Total Investments — 118.9%
(Cost: $761,744,190)
|
734,121,161
|
||
|
Liabilities in Excess of Other Assets — (18.9)%
|
(116,760,520
)
|
||
|
Net Assets — 100.0%
|
$ 617,360,641
|
||
|
(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)
|
Security is valued using significant unobservable inputs and is classified as Level
3 in the
fair value hierarchy.
|
|
(d)
|
Non-income producing security.
|
|
(e)
|
Restricted security as to resale, excluding 144A securities. The Fund held restricted
securities with a current value of $282,912, representing 0.1% of its net assets as
of
period end, and an original cost of $31,736.
|
|
(f)
|
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.
|
|
(g)
|
Issuer filed for bankruptcy and/or is in default.
|
|
(h)
|
This security may be resold to qualified foreign investors and foreign institutional
buyers
under Regulation S of the Securities Act of 1933.
|
|
(i)
|
Convertible security.
|
|
(j)
|
Zero-coupon bond.
|
|
(k)
|
Perpetual security with no stated maturity date.
|
|
(l)
|
When-issued security.
|
|
(m)
|
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.
|
|
(n)
|
Affiliate of the Fund.
|
|
(o)
|
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
|
$ 1,327,027
|
$ —
|
$ (1,179,455
)(a)
|
$ —
|
$ —
|
$ 147,572
|
147,572
|
$ 30,103
|
$ —
|
|
iShares Broad USD High Yield Corporate Bond ETF
|
10,657,575
|
4,030,438
|
—
|
—
|
(136,213
)
|
14,551,800
|
395,000
|
119,058
|
—
|
|
|
|
|
|
$ —
|
$ (136,213
)
|
$ 14,699,372
|
|
$ 149,161
|
$ —
|
|
(a)
|
Represents net amount purchased (sold).
|
|
Description
|
Number of
Contracts
|
Expiration
Date
|
Notional
Amount (000)
|
Value/
Unrealized
Appreciation
(Depreciation)
|
|
Short Contracts
|
|
|
|
|
|
10-Year U.S. Ultra Long Treasury Note
|
35
|
06/18/26
|
$ 3,970
|
$ 76,738
|
|
U.S. Long Bond
|
20
|
06/18/26
|
2,273
|
69,965
|
|
|
|
|
|
$ 146,703
|
|
Currency Purchased
|
Currency Sold
|
Counterparty
|
Settlement Date
|
Unrealized
Appreciation
(Depreciation)
|
||
|
USD
|
88,826
|
EUR
|
77,000
|
Barclays Bank PLC
|
06/17/26
|
$ (484
)
|
|
USD
|
2,048,767
|
EUR
|
1,776,000
|
Barclays Bank PLC
|
06/17/26
|
(11,156
)
|
|
USD
|
115,347
|
EUR
|
100,000
|
Toronto-Dominion Bank
|
06/17/26
|
(640
)
|
|
|
|
|
|
|
|
$ (12,280
)
|
|
Reference Obligation/Index
|
Financing
Rate Received
by the Fund
|
Payment
Frequency
|
Termination
Date
|
Credit
Rating
|
Notional
Amount (000)
|
Value
|
Upfront
Premium
Paid
(Received)
|
Unrealized
Appreciation
(Depreciation)
|
|
|
CDX.NA.HY.44.V2
|
5.00
%
|
Quarterly
|
06/20/30
|
CCC+
|
USD
|
495
|
$ 29,706
|
$ 23,058
|
$ 6,648
|
|
Paid by the Fund
|
Received by the Fund
|
|
|
|
|
|
|
|
|
||
|
Rate/Reference
|
Frequency
|
Rate/Reference
|
Frequency
|
Counterparty
|
Effective
Date
|
Termination
Date
|
Notional
Amount (000)
|
Value
|
Upfront
Premium
Paid
(Received)
|
Unrealized
Appreciation
(Depreciation)
|
|
|
1-day SOFR minus
0.90%, 3.68%
|
Quarterly
|
Markit iBoxx USD
Liquid Leveraged
Loan Index
|
At Termination
|
Morgan Stanley &
Co. International
PLC
|
N/A
|
06/20/26
|
USD
|
10,000
|
$ (49,542
)
|
$ (108,112
)
|
$ 58,570
|
|
1-day SOFR, 3.68%
|
Quarterly
|
Markit iBoxx USD
Liquid Leveraged
Loan Index
|
At Termination
|
Morgan Stanley &
Co. International
PLC
|
N/A
|
09/20/26
|
USD
|
8,000
|
(39,210
)
|
(72,138
)
|
32,928
|
|
|
|
|
|
|
|
|
|
|
$ (88,752
)
|
$ (180,250
)
|
$ 91,498
|
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Assets
|
|
|
|
|
|
Investments
|
|
|
|
|
|
Long-Term Investments
|
|
|
|
|
|
Asset-Backed Securities
|
$ —
|
$ 9,562,255
|
$ —
|
$ 9,562,255
|
|
Common Stocks
|
|
|
|
|
|
Entertainment
|
—
|
—
|
282,912
|
282,912
|
|
Financial Services
|
—
|
—
|
271,966
|
271,966
|
|
Ground Transportation
|
—
|
1,060
|
—
|
1,060
|
|
Hotels, Restaurants & Leisure
|
—
|
—
|
168,345
|
168,345
|
|
Industrial Conglomerates
|
—
|
70,047
|
—
|
70,047
|
|
IT Services
|
—
|
—
|
236,829
|
236,829
|
|
Machinery
|
—
|
—
|
177,357
|
177,357
|
|
Semiconductors & Semiconductor Equipment
|
3
|
—
|
—
|
3
|
|
Trading Companies & Distributors
|
—
|
—
|
173,584
|
173,584
|
|
Wireless Telecommunication Services
|
—
|
199,065
|
—
|
199,065
|
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Corporate Bonds
|
$ —
|
$ 143,034,787
|
$ 2
|
$ 143,034,789
|
|
Fixed Rate Loan Interests
|
—
|
2,191,775
|
—
|
2,191,775
|
|
Floating Rate Loan Interests
|
—
|
512,240,155
|
11,555,766
|
523,795,921
|
|
Investment Companies
|
|
|
|
|
|
Equity Funds
|
32,724,792
|
155,270
|
—
|
32,880,062
|
|
Fixed Income Funds
|
16,571,400
|
—
|
—
|
16,571,400
|
|
Preferred Securities
|
|
|
|
|
|
Capital Trusts
|
—
|
4,228,943
|
—
|
4,228,943
|
|
Preferred Stocks
|
—
|
66,794
|
60,482
|
127,276
|
|
Warrants
|
—
|
—
|
—
|
—
|
|
Short-Term Securities
|
|
|
|
|
|
Money Market Funds
|
147,572
|
—
|
—
|
147,572
|
|
Unfunded Floating Rate Loan Interests(a)
|
—
|
248
|
—
|
248
|
|
Liabilities
|
|
|
|
|
|
Unfunded Floating Rate Loan Interests(a)
|
—
|
(5,876
)
|
(22,610
)
|
(28,486
)
|
|
|
$49,443,767
|
$671,744,523
|
$12,904,633
|
$734,092,923
|
|
Derivative Financial Instruments(b)
|
|
|
|
|
|
Assets
|
|
|
|
|
|
Credit Contracts
|
$ —
|
$ 6,648
|
$ —
|
$ 6,648
|
|
Interest Rate Contracts
|
146,703
|
91,498
|
—
|
238,201
|
|
Liabilities
|
|
|
|
|
|
Foreign Currency Exchange Contracts
|
—
|
(12,280
)
|
—
|
(12,280
)
|
|
|
$146,703
|
$85,866
|
$—
|
$232,569
|
|
(a)
|
Unfunded floating rate loan interests are valued at the unrealized appreciation (depreciation)
on the commitment.
|
|
(b)
|
Derivative financial instruments are swaps and forward foreign currency exchange contracts.
Swaps and forward foreign currency exchange contracts are valued at the unrealized
appreciation (depreciation) on the instrument.
|
|
|
Common
Stocks
|
Corporate
Bonds
|
Fixed
Rate Loan
Interests
|
Floating
Rate Loan
Interests
|
Other
Interests
|
Preferred
Stocks
|
Unfunded
Floating
Rate Loan
Interests
|
|
Assets
|
|
|
|
|
|
|
|
|
Opening balance, as of December 31, 2025
|
$ 1,695,564
|
$ 2
|
$ —
|
$ 15,400,997
|
$ —
(a)
|
$ 74,156
|
$ 321
|
|
Transfers into Level 3(b)
|
0
|
—
|
—
|
4,167,801
|
—
|
—
|
13,300
|
|
Transfers out of Level 3(c)
|
0
|
—
|
—
|
(5,427,668
)
|
—
|
—
|
(321
)
|
|
Accrued discounts/premiums
|
0
|
—
|
—
|
4,177
|
—
|
—
|
—
|
|
Net realized gain (loss)
|
(63,280
)
|
—
|
—
|
(75,400
)
|
—
|
—
|
—
|
|
Net change in unrealized appreciation (depreciation)(d)
|
(552,889
)
|
—
|
(1,877
)
|
(51,352
)
|
—
|
(13,674
)
|
(35,910
)
|
|
Purchases
|
232,883
|
—
|
1,877
|
2,415,824
|
—
|
—
|
—
|
|
Sales
|
(1,285
)
|
—
|
—
|
(4,878,613
)
|
—
|
—
|
—
|
|
Closing balance, as of March 31, 2026
|
$ 1,310,993
|
$ 2
|
$ —
|
$ 11,555,766
|
$ —
(a)
|
$ 60,482
|
$ (22,610
)
|
|
Net change in unrealized appreciation (depreciation) on investments still held at
March 31, 2026(d)
|
$ (616,169
)
|
$ —
|
$ (1,877
)
|
$ (87,860
)
|
$ —
(a)
|
$ (13,674
)
|
$ (35,911
)
|
|
|
Warrants
|
Total
|
|
Assets
|
|
|
|
Opening balance, as of December 31, 2025
|
$ —
(a)
|
$ 17,171,040
|
|
Transfers into Level 3(b)
|
—
|
4,181,101
|
|
Transfers out of Level 3(c)
|
—
|
(5,427,989
)
|
|
Accrued discounts/premiums
|
—
|
4,177
|
|
Net realized gain (loss)
|
—
|
(138,680
)
|
|
Net change in unrealized appreciation (depreciation)(d)
|
—
|
(655,702
)
|
|
|
Warrants
|
Total
|
|
Purchases
|
$ —
|
$ 2,650,584
|
|
Sales
|
—
|
(4,879,898
)
|
|
Closing balance, as of March 31, 2026
|
$ —
(a)
|
$ 12,904,633
|
|
Net change in unrealized appreciation (depreciation) on investments still held at
March 31, 2026(d)
|
$ —
(a)
|
$ (755,491
)
|
|
(a)
|
Rounds to less than $1.
|
|
(b)
|
As of December 31, 2025, the Fund used observable inputs in determining the value
of certain investments. As of March 31, 2026, the Fund used significant unobservable
inputs in
determining the value of the same investments. As a result, investments at beginning
of period value were transferred from Level 2 to Level 3 in the disclosure hierarchy.
|
|
(c)
|
As of December 31, 2025, the Fund used significant unobservable inputs in determining
the value of certain investments. As of March 31, 2026, the Fund used observable inputs in
determining the value of the same investments. As a result, investments at beginning
of period value were transferred from Level 3 to Level 2 in the disclosure hierarchy.
|
|
(d)
|
Any difference between net change in unrealized appreciation (depreciation) and net
change in unrealized appreciation (depreciation) on investments still held at March
31, 2026 is
generally due to investments no longer held or categorized as Level 3 at period end.
|
|
Currency Abbreviation
|
|
|
EUR
|
Euro
|
|
USD
|
United States Dollar
|
|
Portfolio Abbreviation
|
|
|
CLO
|
Collateralized Loan Obligation
|
|
CME
|
Chicago Mercantile Exchange
|
|
CMT
|
Constant Maturity Treasury
|
|
CVR
|
Contingent Value Right
|
|
DAC
|
Designated Activity Company
|
|
DIP
|
Debtor-In-Possession
|
|
ETF
|
Exchange-Traded Fund
|
|
GO
|
General Obligation Bonds
|
|
PIK
|
Payment-in-Kind
|
|
REIT
|
Real Estate Investment Trust
|
|
SOFR
|
Secured Overnight Financing Rate
|