| Principal amount° | Value (US $) | ||
| Convertible Bond — 1.13% | |||
| Leisure — 1.13% | |||
| New Cotai PIK 5.00% exercise price $0.40, maturity date 2/2/27 <<, =, >>, π | 27,386,405 | $ 18,546,599 | |
| Total Convertible Bond (cost $27,267,110) | 18,546,599 | ||
| Corporate Bonds — 89.77% | |||
| Automotive — 2.12% | |||
| American Axle & Manufacturing 144A 7.75% 10/15/33 # | 2,390,000 | 2,362,615 | |
| Garrett Motion Holdings 144A 7.75% 5/31/32 # | 1,803,000 | 1,894,347 | |
| Goodyear Tire & Rubber | |||
| 6.625% 7/15/30 | 8,110,000 | 7,839,161 | |
| 8.875% 7/15/32 | 650,000 | 656,071 | |
| Nissan Motor | |||
| 144A 7.75% 7/17/32 # | 1,400,000 | 1,451,601 | |
| 144A 8.125% 7/17/35 # | 4,475,000 | 4,741,086 | |
| Nissan Motor Acceptance 144A 6.125% 9/30/30 # | 1,150,000 | 1,131,457 | |
| Phinia 144A 6.625% 10/15/32 # | 6,498,000 | 6,642,626 | |
| Tenneco 144A 8.00% 11/17/28 # | 2,560,000 | 2,577,457 | |
| ZF North America Capital 144A 7.50% 3/24/31 # | 5,665,000 | 5,707,142 | |
| 35,003,563 | |||
| Banking — 0.91% | |||
| Barclays 9.625% 12/15/29 μ, ψ | 8,894,000 | 9,873,158 | |
| Royal Bank of Canada 6.50% 11/24/85 μ | 5,175,000 | 5,121,719 | |
| 14,994,877 | |||
| Basic Industry — 8.52% | |||
| Alcoa Nederland Holding 144A 7.125% 3/15/31 # | 1,651,000 | 1,714,405 | |
| Arsenal AIC Parent 144A 8.00% 10/1/30 # | 10,935,000 | 11,410,126 | |
| Ashland 144A 3.375% 9/1/31 # | 350,000 | 325,903 | |
| Ashton Woods USA | |||
| 144A 4.625% 8/1/29 # | 1,000,000 | 964,764 | |
| 144A 4.625% 4/1/30 # | 1,350,000 | 1,281,935 | |
| 144A 6.875% 8/1/33 # | 450,000 | 446,582 | |
| Principalamount° | Value (US $) | ||
| Corporate Bonds (continued) | |||
| Basic Industry (continued) | |||
| Beazer Homes USA | |||
| 7.25% 10/15/29 | 1,350,000 | $ 1,363,195 | |
| 144A 7.50% 3/15/31 # | 1,650,000 | 1,644,758 | |
| 144A 8.00% 1/15/32 # | 925,000 | 929,798 | |
| Bond US Bidco 1 144A 7.125% 6/15/33 # | 600,000 | 606,196 | |
| Builders FirstSource | |||
| 144A 4.25% 2/1/32 # | 3,675,000 | 3,425,894 | |
| 144A 5.00% 3/1/30 # | 1,350,000 | 1,324,520 | |
| 144A 6.375% 6/15/32 # | 3,100,000 | 3,148,586 | |
| 144A 6.375% 3/1/34 # | 4,600,000 | 4,655,913 | |
| 144A 6.75% 5/15/35 # | 2,025,000 | 2,067,163 | |
| Celanese US Holdings | |||
| 7.375% 2/15/34 | 10,274,000 | 10,621,980 | |
| 7.379% 7/15/32 | 475,000 | 499,843 | |
| 7.70% 11/15/33 | 2,025,000 | 2,164,762 | |
| Century Aluminum 144A 6.875% 8/1/32 # | 1,800,000 | 1,852,830 | |
| Chemours | |||
| 144A 7.875% 3/15/34 # | 4,925,000 | 4,953,393 | |
| 144A 8.00% 1/15/33 # | 1,675,000 | 1,697,731 | |
| Cleveland-Cliffs 144A 7.00% 3/15/32 # | 8,930,000 | 8,870,574 | |
| Commercial Metals | |||
| 4.125% 1/15/30 | 600,000 | 581,837 | |
| 4.375% 3/15/32 | 1,050,000 | 995,249 | |
| 144A 5.75% 11/15/33 # | 1,150,000 | 1,143,833 | |
| 144A 6.00% 12/15/35 # | 700,000 | 698,562 | |
| First Quantum Minerals | |||
| 144A 6.375% 2/15/36 # | 1,100,000 | 1,080,359 | |
| 144A 7.25% 2/15/34 # | 1,375,000 | 1,410,648 | |
| 144A 8.00% 3/1/33 # | 2,000,000 | 2,093,507 | |
| FMC | |||
| 3.45% 10/1/29 | 925,000 | 857,053 | |
| 5.65% 5/18/33 | 925,000 | 830,312 | |
| 6.375% 5/18/53 | 500,000 | 393,472 | |
| 144A 8.00% 6/1/31 # | 1,025,000 | 1,067,527 | |
| Fortescue Treasury 144A 6.125% 4/15/32 # | 2,675,000 | 2,751,943 | |
| Hybar 144A 7.375% 7/1/34 # | 175,000 | 176,068 | |
| JH North America Holdings 144A 5.875% 1/31/31 # | 1,000,000 | 1,005,455 | |
| K Hovnanian Enterprises 144A 8.375% 10/1/33 # | 5,765,000 | 5,928,657 | |
| Kaiser Aluminum | |||
| 144A 4.50% 6/1/31 # | 1,675,000 | 1,604,429 | |
| 144A 5.875% 3/1/34 # | 925,000 | 916,542 | |
| KB Home 4.00% 6/15/31 | 975,000 | 912,724 | |
| Principalamount° | Value (US $) | ||
| Corporate Bonds (continued) | |||
| Basic Industry (continued) | |||
| Mineral Resources | |||
| 144A 6.00% 5/1/32 # | 675,000 | $ 668,174 | |
| 144A 6.25% 5/1/34 # | 675,000 | 664,154 | |
| 144A 9.25% 10/1/28 # | 2,357,000 | 2,434,539 | |
| NOVA Chemicals 144A 9.00% 2/15/30 # | 12,770,000 | 13,384,046 | |
| Novelis 144A 6.375% 8/15/33 # | 2,000,000 | 2,015,838 | |
| Olin 5.00% 2/1/30 | 925,000 | 897,273 | |
| Olympus Water US Holding 144A 7.25% 6/15/31 # | 2,640,000 | 2,675,204 | |
| Quikrete Holdings 144A 6.75% 3/1/33 # | 1,319,000 | 1,345,226 | |
| SCIH Salt Holdings | |||
| 144A 4.875% 5/1/28 # | 300,000 | 296,102 | |
| 144A 6.625% 5/1/29 # | 800,000 | 793,688 | |
| Smyrna Ready Mix Concrete 144A 6.00% 11/1/28 # | 2,210,000 | 2,215,640 | |
| Solstice Advanced Materials 144A 5.625% 9/30/33 # | 675,000 | 671,154 | |
| Standard Building Solutions 144A 6.50% 8/15/32 # | 13,825,000 | 13,917,545 | |
| Stonepeak Motion Holdco 144A 6.125% 7/15/33 # | 1,000,000 | 1,001,860 | |
| WR Grace Holdings | |||
| 144A 6.625% 8/15/32 # | 300,000 | 291,194 | |
| 144A 7.00% 8/1/33 # | 5,052,000 | 4,923,591 | |
| WS Escrow 144A 7.75% 6/1/33 # | 1,725,000 | 1,772,588 | |
| 140,386,844 | |||
| Capital Goods — 6.44% | |||
| Amentum Holdings 144A 7.25% 8/1/32 # | 5,145,000 | 5,302,638 | |
| Ardagh Group | |||
| 144A 9.50% 12/1/30 # | 675,000 | 722,018 | |
| PIK, 144A 11.00% 12/1/30 #, > | 2,071,500 | 1,980,872 | |
| Ardagh Metal Packaging Finance USA 144A 4.00% 9/1/29 # | 1,400,000 | 1,331,523 | |
| ATI | |||
| 5.125% 10/1/31 | 1,675,000 | 1,664,134 | |
| 5.875% 6/15/33 | 175,000 | 177,535 | |
| 7.25% 8/15/30 | 1,300,000 | 1,350,632 | |
| Axon Enterprise | |||
| 144A 6.125% 3/15/30 # | 1,350,000 | 1,380,322 | |
| 144A 6.25% 3/15/33 # | 3,550,000 | 3,640,873 | |
| Boeing | |||
| 6.528% 5/1/34 | 675,000 | 734,585 | |
| 6.858% 5/1/54 | 1,400,000 | 1,574,595 | |
| Principalamount° | Value (US $) | ||
| Corporate Bonds (continued) | |||
| Capital Goods (continued) | |||
| Bombardier | |||
| 144A 5.875% 1/15/35 # | 900,000 | $ 904,457 | |
| 144A 7.25% 7/1/31 # | 6,805,000 | 7,128,734 | |
| 144A 8.75% 11/15/30 # | 3,390,000 | 3,587,651 | |
| Canpack Group 144A 6.00% 5/15/31 # | 600,000 | 603,816 | |
| Clydesdale Acquisition Holdings 144A 8.75% 4/15/30 # | 10,512,000 | 10,377,637 | |
| Columbus McKinnon 144A 7.125% 2/1/33 # | 800,000 | 802,343 | |
| Core & Main 144A 6.00% 7/1/34 # | 625,000 | 628,583 | |
| Goat Holdco 144A 6.75% 2/1/32 # | 6,220,000 | 6,379,524 | |
| Manitowoc 144A 9.25% 10/1/31 # | 6,840,000 | 7,361,126 | |
| Mauser Packaging Solutions Holding 144A 7.875% 4/15/30 # | 1,110,000 | 1,135,369 | |
| OI European Group 144A 4.75% 2/15/30 # | 1,925,000 | 1,829,770 | |
| Owens-Brockway Glass Container | |||
| 144A 7.25% 5/15/31 # | 2,150,000 | 2,127,400 | |
| 144A 7.375% 6/1/32 # | 675,000 | 647,555 | |
| 144A 9.50% 6/1/33 # | 925,000 | 948,245 | |
| Space Exploration Technologies | |||
| 144A 5.35% 7/15/31 # | 300,000 | 299,296 | |
| 144A 5.875% 7/15/36 # | 1,575,000 | 1,555,051 | |
| 144A 6.65% 7/15/56 # | 575,000 | 555,114 | |
| Sword Purchaser | |||
| 144A 8.25% 4/15/33 # | 6,050,000 | 6,263,807 | |
| 144A 10.50% 4/15/34 # | 2,620,000 | 2,743,056 | |
| TransDigm | |||
| 144A 6.125% 7/31/34 # | 3,450,000 | 3,449,876 | |
| 144A 6.375% 5/31/33 # | 4,925,000 | 4,975,151 | |
| 144A 6.875% 12/15/30 # | 15,800,000 | 16,248,325 | |
| Trivium Packaging Finance | |||
| 144A 8.25% 7/15/30 # | 1,589,000 | 1,679,935 | |
| 144A 12.25% 1/15/31 # | 1,693,000 | 1,872,599 | |
| VoltaGrid 144A 7.375% 11/1/30 # | 2,116,000 | 2,197,796 | |
| 106,161,943 | |||
| Consumer Goods — 1.80% | |||
| Fiesta Purchaser 144A 9.625% 9/15/32 # | 7,560,000 | 7,424,310 | |
| Industrial F&B Investments III 144A 7.75% 2/11/33 # | 2,153,000 | 2,195,638 | |
| Principalamount° | Value (US $) | ||
| Corporate Bonds (continued) | |||
| Consumer Goods (continued) | |||
| KeHE Distributors | |||
| 144A 7.125% 4/30/33 # | 800,000 | $ 815,394 | |
| 144A 9.00% 2/15/29 # | 2,350,000 | 2,463,037 | |
| MajorDrive Holdings IV 144A 6.375% 6/1/29 # | 2,300,000 | 1,937,280 | |
| Newell Brands | |||
| 6.375% 5/15/30 | 1,350,000 | 1,369,267 | |
| 6.625% 9/15/29 | 1,000,000 | 1,017,354 | |
| 6.625% 5/15/32 | 675,000 | 683,908 | |
| Performance Food Group 144A 6.125% 9/15/32 # | 1,325,000 | 1,342,862 | |
| Post Holdings | |||
| 144A 4.625% 4/15/30 # | 675,000 | 652,496 | |
| 144A 6.25% 2/15/32 # | 475,000 | 482,748 | |
| 144A 6.25% 10/15/34 # | 475,000 | 466,977 | |
| 144A 6.375% 3/1/33 # | 1,225,000 | 1,216,186 | |
| 144A 6.50% 3/15/36 # | 1,675,000 | 1,657,334 | |
| Scotts Miracle-Gro 4.00% 4/1/31 | 1,350,000 | 1,270,020 | |
| US Foods | |||
| 144A 5.75% 4/15/33 # | 1,350,000 | 1,352,561 | |
| 144A 7.25% 1/15/32 # | 1,000,000 | 1,038,966 | |
| Whirlpool | |||
| 4.70% 5/14/32 | 2,000,000 | 1,580,655 | |
| 144A 7.50% 7/1/31 # | 300,000 | 304,334 | |
| 144A 7.875% 7/1/34 # | 300,000 | 301,981 | |
| 29,573,308 | |||
| Electric — 4.52% | |||
| AES 7.60% 1/15/55 μ | 1,350,000 | 1,386,034 | |
| Alpha Generation | |||
| 144A 6.25% 1/15/34 # | 675,000 | 664,625 | |
| 144A 6.75% 10/15/32 # | 1,675,000 | 1,706,580 | |
| California Buyer 144A 6.375% 2/15/32 # | 9,177,000 | 9,204,577 | |
| Constellation Energy Generation | |||
| 144A 4.625% 2/1/29 # | 325,000 | 323,193 | |
| 144A 5.00% 2/1/31 # | 2,700,000 | 2,699,946 | |
| Edison International | |||
| 7.875% 6/15/54 μ | 1,000,000 | 1,029,220 | |
| 8.125% 6/15/53 μ | 675,000 | 693,960 | |
| NRG Energy | |||
| 144A 5.75% 7/15/29 # | 2,675,000 | 2,679,061 | |
| 144A 5.75% 1/15/34 # | 3,825,000 | 3,797,140 | |
| 144A 5.875% 5/15/34 # | 1,525,000 | 1,517,710 | |
| 144A 6.00% 2/1/33 # | 3,350,000 | 3,369,179 | |
| 144A 6.00% 1/15/36 # | 5,375,000 | 5,360,913 | |
| 144A 6.125% 5/15/36 # | 2,000,000 | 2,001,786 | |
| 144A 6.25% 11/1/34 # | 4,725,000 | 4,786,252 | |
| PG&E 7.375% 3/15/55 μ | 2,675,000 | 2,727,502 | |
| Principalamount° | Value (US $) | ||
| Corporate Bonds (continued) | |||
| Electric (continued) | |||
| Talen Energy Supply | |||
| 144A 6.125% 5/1/31 # | 4,225,000 | $ 4,226,834 | |
| 144A 6.25% 2/1/34 # | 2,525,000 | 2,510,713 | |
| 144A 6.50% 2/1/36 # | 2,300,000 | 2,319,693 | |
| TerraForm Power Operating 144A 4.75% 1/15/30 # | 1,000,000 | 968,018 | |
| TransAlta 5.875% 2/1/34 | 1,075,000 | 1,059,588 | |
| Vistra 144A 8.00% 10/15/26 #, μ, ψ | 17,255,000 | 17,439,111 | |
| Vistra Operations 144A 6.875% 4/15/32 # | 2,000,000 | 2,072,268 | |
| 74,543,903 | |||
| Energy — 13.43% | |||
| Antero Midstream Partners | |||
| 144A 5.75% 10/15/33 # | 1,350,000 | 1,337,746 | |
| 144A 5.75% 7/1/34 # | 1,350,000 | 1,333,934 | |
| 144A 6.625% 2/1/32 # | 1,150,000 | 1,175,180 | |
| Archrock Partners 144A 6.625% 9/1/32 # | 7,980,000 | 8,143,039 | |
| Ascent Resources Utica Holdings 144A 9.00% 11/1/27 # | 1,800,000 | 1,999,404 | |
| Blue Racer Midstream 144A 7.25% 7/15/32 # | 1,350,000 | 1,397,477 | |
| Buckeye Partners | |||
| 5.85% 11/15/43 | 500,000 | 458,785 | |
| 144A 6.75% 2/1/30 # | 675,000 | 697,494 | |
| 144A 6.875% 7/1/29 # | 1,350,000 | 1,378,914 | |
| Comstock Resources | |||
| 144A 5.875% 1/15/30 # | 2,075,000 | 1,958,368 | |
| 144A 6.75% 3/1/29 # | 1,675,000 | 1,650,435 | |
| CQP Holdco 144A 5.50% 6/15/31 # | 3,110,000 | 3,053,817 | |
| Crescent Energy Finance | |||
| 144A 7.875% 4/15/32 # | 5,055,000 | 5,121,574 | |
| 144A 8.375% 1/15/34 # | 5,154,000 | 5,311,790 | |
| DBR Land Holdings 144A 6.25% 12/1/30 # | 947,000 | 962,275 | |
| Delek Logistics Partners | |||
| 144A 6.875% 6/1/34 # | 1,475,000 | 1,468,909 | |
| 144A 7.375% 6/30/33 # | 1,635,000 | 1,666,760 | |
| 144A 8.625% 3/15/29 # | 701,000 | 728,980 | |
| Energy Transfer | |||
| 6.50% 2/15/56 μ | 1,525,000 | 1,538,553 | |
| 6.75% 2/15/56 μ | 925,000 | 945,307 | |
| 7.125% 10/1/54 μ | 800,000 | 825,546 | |
| Excelerate Energy 144A 8.00% 5/15/30 # | 2,025,000 | 2,136,679 | |
| Principalamount° | Value (US $) | ||
| Corporate Bonds (continued) | |||
| Energy (continued) | |||
| Genesis Energy | |||
| 6.75% 3/15/34 | 5,050,000 | $ 5,013,969 | |
| 7.875% 5/15/32 | 3,320,000 | 3,425,277 | |
| Gulfport Energy Operating 144A 6.75% 9/1/29 # | 8,105,000 | 8,276,518 | |
| Harvest Midstream I | |||
| 144A 6.75% 5/15/34 # | 850,000 | 862,512 | |
| 144A 7.50% 5/15/32 # | 1,350,000 | 1,399,029 | |
| Hess Midstream Operations | |||
| 144A 5.50% 10/15/30 # | 670,000 | 668,917 | |
| 144A 6.50% 6/1/29 # | 675,000 | 689,170 | |
| Hilcorp Energy I | |||
| 144A 6.00% 2/1/31 # | 1,205,000 | 1,167,894 | |
| 144A 6.25% 4/15/32 # | 2,006,000 | 1,943,004 | |
| 144A 7.25% 2/15/35 # | 3,010,000 | 2,965,504 | |
| Howard Midstream Energy Partners | |||
| 144A 6.625% 1/15/34 # | 1,350,000 | 1,362,263 | |
| 144A 7.375% 7/15/32 # | 1,750,000 | 1,813,451 | |
| ITT Holdings 144A 6.50% 8/1/29 # | 400,000 | 395,540 | |
| Kinetik Holdings 144A 5.875% 6/15/30 # | 1,200,000 | 1,207,519 | |
| Kraken Oil & Gas Partners 144A 7.125% 5/15/31 # | 500,000 | 489,219 | |
| Martin Midstream Partners 144A 11.50% 2/15/28 # | 2,350,000 | 2,369,228 | |
| Matador Resources 144A 6.25% 4/15/33 # | 9,555,000 | 9,525,028 | |
| Nabors Industries | |||
| 144A 8.875% 8/15/31 # | 2,821,000 | 2,898,264 | |
| 144A 9.125% 1/31/30 # | 5,178,000 | 5,414,319 | |
| NGL Energy Operating | |||
| 144A 8.125% 2/15/29 # | 500,000 | 517,816 | |
| 144A 8.375% 2/15/32 # | 10,785,000 | 11,232,502 | |
| Noble Finance II | |||
| 144A 6.25% 6/15/34 # | 1,425,000 | 1,397,499 | |
| 144A 8.00% 4/15/30 # | 8,091,000 | 8,387,313 | |
| Northern Oil & Gas | |||
| 144A 7.875% 10/15/33 # | 1,800,000 | 1,789,812 | |
| 144A 8.75% 6/15/31 # | 1,500,000 | 1,545,803 | |
| Northriver Midstream Finance 144A 6.75% 7/15/32 # | 1,350,000 | 1,367,927 | |
| NuStar Logistics 6.375% 10/1/30 | 2,500,000 | 2,584,682 | |
| ONEOK | |||
| 5.05% 4/1/45 | 750,000 | 663,255 | |
| 5.45% 6/1/47 | 1,498,000 | 1,376,139 | |
| 5.60% 4/1/44 | 675,000 | 638,846 | |
| Par Petroleum 144A 7.375% 6/1/34 # | 725,000 | 734,091 | |
| Principalamount° | Value (US $) | ||
| Corporate Bonds (continued) | |||
| Energy (continued) | |||
| PBF Holding 144A 7.25% 6/1/34 # | 650,000 | $ 643,916 | |
| Prairie Acquiror 144A 9.00% 8/1/29 # | 1,200,000 | 1,251,392 | |
| Rockies Express Pipeline | |||
| 144A 4.95% 7/15/29 # | 931,000 | 919,291 | |
| 144A 6.875% 4/15/40 # | 1,000,000 | 1,024,899 | |
| SESI 144A 7.875% 9/30/30 # | 2,175,000 | 2,211,418 | |
| SM Energy | |||
| 144A 7.00% 8/1/32 # | 2,674,000 | 2,700,424 | |
| 144A 9.625% 6/15/33 # | 10,970,000 | 12,033,366 | |
| Solaris Energy Infrastructure 144A 6.375% 5/15/31 # | 1,050,000 | 1,062,251 | |
| South Bow Canadian Infrastructure Holdings | |||
| 7.50% 3/1/55 μ | 1,000,000 | 1,069,218 | |
| 7.625% 3/1/55 μ | 1,000,000 | 1,047,861 | |
| Sunoco | |||
| 144A 4.50% 10/1/29 # | 2,025,000 | 1,967,840 | |
| 144A 4.625% 5/1/30 # | 325,000 | 314,115 | |
| 144A 5.625% 3/15/31 # | 675,000 | 670,350 | |
| 144A 5.875% 3/15/34 # | 675,000 | 666,147 | |
| 144A 6.25% 7/1/33 # | 2,000,000 | 2,018,892 | |
| 144A 7.875% 9/18/30 #, μ, ψ | 5,375,000 | 5,593,129 | |
| Superior Plus 144A 4.50% 3/15/29 # | 800,000 | 776,139 | |
| Tallgrass Energy Partners | |||
| 144A 6.00% 12/31/30 # | 675,000 | 675,640 | |
| 144A 6.00% 9/1/31 # | 1,000,000 | 989,803 | |
| 144A 7.375% 2/15/29 # | 925,000 | 952,140 | |
| Talos Production 144A 9.375% 2/1/31 # | 1,950,000 | 2,049,245 | |
| TransMontaigne Partners 144A 8.50% 6/15/30 # | 800,000 | 815,631 | |
| Transocean International | |||
| 144A 7.875% 10/15/32 # | 10,047,000 | 10,493,740 | |
| 144A 8.50% 5/15/31 # | 5,610,000 | 5,827,459 | |
| USA Compression Partners 144A 7.125% 3/15/29 # | 5,582,000 | 5,720,428 | |
| Valaris 144A 8.375% 4/30/30 # | 1,610,000 | 1,672,658 | |
| Venture Global Calcasieu Pass | |||
| 144A 4.125% 8/15/31 # | 1,350,000 | 1,267,968 | |
| 144A 6.00% 5/1/36 # | 1,000,000 | 1,011,368 | |
| 144A 6.25% 1/15/30 # | 800,000 | 819,731 | |
| Principalamount° | Value (US $) | ||
| Corporate Bonds (continued) | |||
| Energy (continued) | |||
| Venture Global LNG | |||
| 144A 6.375% 12/15/34 # | 1,100,000 | $ 1,081,687 | |
| 144A 6.625% 6/15/36 # | 150,000 | 147,938 | |
| 144A 9.00% 9/30/29 #, μ, ψ | 1,104,000 | 1,078,426 | |
| 144A 9.875% 2/1/32 # | 7,115,000 | 7,598,550 | |
| Venture Global Plaquemines LNG | |||
| 144A 6.50% 6/15/34 # | 1,400,000 | 1,459,185 | |
| 144A 6.75% 1/15/36 # | 925,000 | 981,222 | |
| 144A 7.75% 5/1/35 # | 9,880,000 | 11,084,836 | |
| WBI Operating 144A 6.50% 10/15/33 # | 175,000 | 176,191 | |
| 221,287,770 | |||
| Financial Services — 6.79% | |||
| Ally Financial 7.10% 8/15/31 μ, ψ | 1,325,000 | 1,343,314 | |
| Azorra Finance 144A 7.75% 4/15/30 # | 2,820,000 | 2,927,405 | |
| Breakwater Energy Holdings 144A 9.25% 11/15/30 # | 1,900,000 | 2,006,607 | |
| Coinbase Global | |||
| 144A 3.375% 10/1/28 # | 5,080,000 | 4,825,522 | |
| 144A 3.625% 10/1/31 # | 4,170,000 | 3,635,270 | |
| CrossCountry Intermediate HoldCo | |||
| 144A 6.50% 10/1/30 # | 1,600,000 | 1,579,011 | |
| 144A 6.75% 12/1/32 # | 1,475,000 | 1,425,431 | |
| FirstCash | |||
| 144A 4.625% 9/1/28 # | 750,000 | 737,736 | |
| 144A 5.625% 1/1/30 # | 750,000 | 746,059 | |
| 144A 6.875% 3/1/32 # | 1,025,000 | 1,054,557 | |
| Freedom Mortgage Holdings 144A 9.25% 2/1/29 # | 1,347,000 | 1,396,886 | |
| FS KKR Capital | |||
| 6.125% 1/15/30 | 400,000 | 389,955 | |
| 7.50% 8/1/31 | 575,000 | 572,913 | |
| FTAI Aviation Investors 144A 7.00% 6/15/32 # | 13,995,000 | 14,482,866 | |
| Icahn Enterprises | |||
| 5.25% 5/15/27 | 4,681,000 | 4,629,125 | |
| 9.75% 1/15/29 | 2,025,000 | 1,987,616 | |
| 144A 10.00% 11/15/29 # | 2,025,000 | 1,999,618 | |
| Jane Street Group | |||
| 144A 4.50% 11/15/29 # | 1,200,000 | 1,170,412 | |
| 144A 6.125% 11/1/32 # | 1,075,000 | 1,075,723 | |
| 144A 6.75% 5/1/33 # | 1,325,000 | 1,363,308 | |
| 144A 7.125% 4/30/31 # | 275,000 | 284,477 | |
| Jefferies Finance 144A 6.625% 10/15/31 # | 2,611,000 | 2,572,330 | |
| Principalamount° | Value (US $) | ||
| Corporate Bonds (continued) | |||
| Financial Services (continued) | |||
| Jefferson Capital Holdings 144A 8.25% 5/15/30 # | 1,765,000 | $ 1,856,886 | |
| LFS Topco 144A 8.75% 7/15/30 # | 1,250,000 | 1,256,575 | |
| Navient | |||
| 4.875% 3/15/28 | 2,025,000 | 1,987,453 | |
| 9.375% 10/15/31 | 350,000 | 349,105 | |
| OneMain Finance | |||
| 6.625% 5/15/29 | 9,277,000 | 9,470,973 | |
| 6.75% 3/15/32 | 3,625,000 | 3,638,248 | |
| 7.125% 9/15/32 | 2,849,000 | 2,900,524 | |
| 7.875% 3/15/30 | 2,875,000 | 2,994,859 | |
| PennyMac Financial Services | |||
| 144A 6.875% 5/15/32 # | 5,840,000 | 5,720,231 | |
| 144A 6.875% 2/15/33 # | 8,960,000 | 8,743,102 | |
| PHH Escrow Issuer 144A 9.875% 11/1/29 # | 875,000 | 857,170 | |
| Rfna 144A 7.875% 2/15/30 # | 1,300,000 | 1,310,741 | |
| Rocket | |||
| 144A 6.125% 8/1/30 # | 675,000 | 686,912 | |
| 144A 6.375% 8/1/33 # | 3,825,000 | 3,894,670 | |
| 144A 6.50% 8/1/29 # | 1,350,000 | 1,379,624 | |
| 144A 6.50% 6/15/34 # | 675,000 | 693,177 | |
| 144A 7.125% 2/1/32 # | 1,350,000 | 1,402,003 | |
| Rocket Mortgage | |||
| 144A 3.875% 3/1/31 # | 1,000,000 | 936,205 | |
| 144A 4.00% 10/15/33 # | 3,350,000 | 3,016,980 | |
| SLM 6.495% 5/15/32 μ | 925,000 | 925,086 | |
| United Wholesale Mortgage 144A 5.50% 4/15/29 # | 677,000 | 629,399 | |
| UWM Holdings 144A 6.625% 2/1/30 # | 4,054,000 | 3,780,861 | |
| WEX 144A 6.50% 3/15/33 # | 1,350,000 | 1,345,221 | |
| 111,982,146 | |||
| Healthcare — 7.73% | |||
| 1261229 BC 144A 10.00% 4/15/32 # | 9,695,000 | 9,825,941 | |
| Acadia Healthcare 144A 5.50% 7/1/28 # | 1,200,000 | 1,195,215 | |
| AMN Healthcare | |||
| 144A 4.00% 4/15/29 # | 1,350,000 | 1,308,391 | |
| 144A 6.50% 1/15/31 # | 750,000 | 754,999 | |
| AthenaHealth Group 144A 6.50% 2/15/30 # | 10,177,000 | 9,764,312 | |
| Principalamount° | Value (US $) | ||
| Corporate Bonds (continued) | |||
| Healthcare (continued) | |||
| Bausch Health | |||
| 144A 4.875% 6/1/28 # | 400,000 | $ 370,178 | |
| 144A 5.00% 1/30/28 # | 1,250,000 | 1,110,369 | |
| 144A 5.00% 2/15/29 # | 275,000 | 202,888 | |
| 144A 5.25% 1/30/30 # | 875,000 | 560,663 | |
| 144A 5.25% 2/15/31 # | 375,000 | 221,690 | |
| 144A 6.25% 2/15/29 # | 600,000 | 451,875 | |
| 144A 7.00% 1/15/28 # | 675,000 | 610,453 | |
| 144A 7.25% 5/30/29 # | 1,000,000 | 754,375 | |
| 144A 11.00% 9/30/28 # | 1,475,000 | 1,503,261 | |
| 144A 14.00% 10/15/30 # | 525,000 | 496,198 | |
| Bausch Health Americas 144A 8.50% 1/31/27 # | 2,000,000 | 1,997,850 | |
| Carriage Services 144A 4.25% 5/15/29 # | 1,085,000 | 1,041,533 | |
| Centene | |||
| 3.00% 10/15/30 | 8,825,000 | 7,991,979 | |
| 4.625% 12/15/29 | 1,700,000 | 1,649,997 | |
| Charlotte Buyer 144A 8.00% 6/30/31 # | 325,000 | 329,204 | |
| CHS | |||
| 144A 6.125% 4/1/30 # | 3,563,000 | 3,202,255 | |
| 144A 6.875% 4/15/29 # | 3,555,000 | 3,499,493 | |
| 144A 9.75% 1/15/34 # | 8,175,000 | 8,545,581 | |
| Concentra Health Services 144A 6.875% 7/15/32 # | 1,350,000 | 1,399,120 | |
| CVS Health 7.00% 3/10/55 μ | 2,000,000 | 2,077,284 | |
| DaVita | |||
| 144A 4.625% 6/1/30 # | 3,040,000 | 2,946,891 | |
| 144A 6.75% 7/15/33 # | 675,000 | 696,900 | |
| 144A 6.875% 9/1/32 # | 650,000 | 670,730 | |
| Encompass Health 144A 5.875% 6/1/34 # | 850,000 | 848,831 | |
| GENMAB | |||
| 144A 6.25% 12/15/32 # | 1,800,000 | 1,835,393 | |
| 144A 7.25% 12/15/33 # | 2,015,000 | 2,102,165 | |
| Global Medical Response 144A 7.375% 10/1/32 # | 5,306,000 | 5,501,791 | |
| LifePoint Health | |||
| 144A 5.375% 1/15/29 # | 675,000 | 648,070 | |
| 144A 7.00% 5/1/34 # | 2,025,000 | 1,942,354 | |
| 144A 10.00% 6/1/32 # | 1,350,000 | 1,349,408 | |
| Molina Healthcare | |||
| 144A 3.875% 11/15/30 # | 500,000 | 466,599 | |
| 144A 3.875% 5/15/32 # | 850,000 | 768,951 | |
| Organon & Co. 144A 5.125% 4/30/31 # | 10,228,000 | 10,123,528 | |
| Paradigm Parent and Paradigm Parent CO-Issuer 144A 8.75% 4/17/32 # | 1,200,000 | 1,075,500 | |
| Principalamount° | Value (US $) | ||
| Corporate Bonds (continued) | |||
| Healthcare (continued) | |||
| Prestige Brands 144A 6.25% 7/15/34 # | 850,000 | $ 850,000 | |
| Radiology Partners 144A 8.50% 7/15/32 # | 3,735,000 | 3,902,512 | |
| Raven Acquisition Holdings 144A 6.875% 11/15/31 # | 7,335,000 | 7,174,185 | |
| Select Medical 144A 6.25% 12/1/32 # | 800,000 | 777,679 | |
| Service Corp International | |||
| 4.00% 5/15/31 | 2,550,000 | 2,408,662 | |
| 5.75% 10/15/32 | 1,350,000 | 1,357,120 | |
| Surgery Center Holdings 144A 7.25% 4/15/32 # | 5,965,000 | 6,046,070 | |
| Teleflex 144A 5.875% 1/15/32 # | 650,000 | 655,725 | |
| Tenet Healthcare | |||
| 4.25% 6/1/29 | 2,000,000 | 1,944,888 | |
| 4.375% 1/15/30 | 675,000 | 654,527 | |
| 144A 5.50% 11/15/32 # | 2,250,000 | 2,238,415 | |
| 144A 6.00% 11/15/33 # | 675,000 | 681,388 | |
| 6.125% 6/15/30 | 5,375,000 | 5,421,107 | |
| 6.75% 5/15/31 | 1,350,000 | 1,383,623 | |
| 127,338,116 | |||
| Insurance — 0.61% | |||
| Acrisure 144A 7.50% 11/6/30 # | 2,000,000 | 1,898,251 | |
| Asurion 144A 8.375% 2/1/34 # | 2,565,000 | 2,376,252 | |
| Baldwin Insurance Group Holdings 144A 7.125% 5/15/31 # | 850,000 | 854,303 | |
| CRC Insurance Group 144A 7.125% 6/1/31 # | 1,525,000 | 1,521,045 | |
| Howden UK Refinance 144A 8.125% 2/15/32 # | 1,870,000 | 1,677,761 | |
| HUB International 144A 7.25% 6/15/30 # | 1,710,000 | 1,755,754 | |
| 10,083,366 | |||
| Leisure — 4.54% | |||
| AMC Entertainment Holdings 144A 7.50% 2/15/29 # | 3,300,000 | 3,067,959 | |
| Boyd Gaming 144A 4.75% 6/15/31 # | 3,450,000 | 3,333,141 | |
| Carnival | |||
| 144A 5.125% 5/1/29 # | 1,350,000 | 1,348,559 | |
| 144A 5.75% 8/1/32 # | 3,350,000 | 3,386,908 | |
| 144A 5.875% 6/15/31 # | 1,925,000 | 1,960,678 | |
| 144A 6.125% 2/15/33 # | 3,500,000 | 3,544,082 | |
| Churchill Downs | |||
| 144A 5.50% 4/1/27 # | 1,175,000 | 1,175,285 | |
| 144A 5.75% 4/1/30 # | 1,150,000 | 1,149,544 | |
| Principalamount° | Value (US $) | ||
| Corporate Bonds (continued) | |||
| Leisure (continued) | |||
| Cinemark USA | |||
| 144A 5.25% 7/15/28 # | 675,000 | $ 674,312 | |
| 144A 7.00% 8/1/32 # | 725,000 | 748,415 | |
| Hilton Domestic Operating | |||
| 144A 3.625% 2/15/32 # | 525,000 | 480,773 | |
| 144A 4.00% 5/1/31 # | 2,935,000 | 2,775,116 | |
| 4.875% 1/15/30 | 675,000 | 673,089 | |
| 144A 5.50% 9/15/31 # | 1,242,000 | 1,245,866 | |
| 144A 5.50% 3/31/34 # | 925,000 | 917,512 | |
| 144A 5.75% 9/15/33 # | 1,175,000 | 1,179,984 | |
| 144A 5.875% 3/15/33 # | 1,675,000 | 1,691,070 | |
| 144A 6.125% 4/1/32 # | 275,000 | 278,820 | |
| Hilton Grand Vacations Borrower Escrow 144A 4.875% 7/1/31 # | 2,000,000 | 1,880,962 | |
| Life Time 144A 6.00% 11/15/31 # | 2,200,000 | 2,235,227 | |
| Light & Wonder International 144A 7.25% 11/15/29 # | 6,265,000 | 6,381,598 | |
| Lindblad Expeditions 144A 7.00% 9/15/30 # | 2,205,000 | 2,281,165 | |
| Muvico PIK 144A 15.00% 2/19/29 #, >>> | 5,190,350 | 5,675,825 | |
| NCL | |||
| 144A 6.25% 9/15/33 # | 225,000 | 218,647 | |
| 144A 6.75% 2/1/32 # | 3,215,000 | 3,210,038 | |
| Penn Entertainment 144A 4.125% 7/1/29 # | 2,185,000 | 2,096,124 | |
| Pioneer Opco 144A 7.00% 5/15/33 # | 300,000 | 305,657 | |
| Royal Caribbean Cruises | |||
| 144A 5.375% 7/15/27 # | 2,350,000 | 2,355,311 | |
| 144A 5.50% 4/1/28 # | 1,000,000 | 1,009,672 | |
| 144A 5.625% 9/30/31 # | 1,850,000 | 1,866,080 | |
| 144A 6.00% 2/1/33 # | 725,000 | 735,428 | |
| 144A 6.25% 3/15/32 # | 850,000 | 868,971 | |
| 7.50% 10/15/27 | 200,000 | 207,305 | |
| Six Flags Entertainment 144A 8.625% 1/15/32 # | 7,979,000 | 8,221,093 | |
| Travel + Leisure 144A 6.125% 9/1/33 # | 1,350,000 | 1,336,757 | |
| Viking Cruises | |||
| 144A 5.875% 10/15/33 # | 925,000 | 926,902 | |
| 144A 9.125% 7/15/31 # | 1,675,000 | 1,755,978 | |
| VOC Escrow 144A 5.00% 2/15/28 # | 1,000,000 | 999,322 | |
| Wynn Resorts Finance 144A 6.25% 3/15/33 # | 675,000 | 677,900 | |
| 74,877,075 | |||
| Principalamount° | Value (US $) | ||
| Corporate Bonds (continued) | |||
| Media — 9.71% | |||
| Advantage Sales & Marketing 144A 9.00% 11/15/30 # | 3,578,211 | $ 3,193,553 | |
| AMC Global Media | |||
| 4.25% 2/15/29 | 550,000 | 486,697 | |
| 144A 10.50% 7/15/32 # | 3,305,000 | 3,399,430 | |
| CCO Holdings | |||
| 144A 4.25% 2/1/31 # | 200,000 | 180,273 | |
| 144A 4.75% 2/1/32 # | 1,700,000 | 1,517,499 | |
| 144A 7.00% 2/1/33 # | 23,225,000 | 22,795,707 | |
| Cimpress 144A 7.375% 9/15/32 # | 800,000 | 809,425 | |
| Clear Channel Outdoor Holdings 144A 7.50% 3/15/33 # | 6,155,000 | 6,485,062 | |
| CMG Media 144A 8.875% 6/18/29 # | 5,527,000 | 4,050,364 | |
| CSC Holdings | |||
| 144A 4.50% 11/15/31 # | 10,380,000 | 6,141,222 | |
| 144A 5.00% 11/15/31 # | 9,786,000 | 2,311,942 | |
| 144A 11.75% 1/31/29 # | 2,000,000 | 1,231,495 | |
| Cumulus Media New Holdings 144A 8.00% 7/1/29 #, ‡ | 18,686,000 | 2,943,045 | |
| Directv Financing | |||
| Directv Financing 144A 8.875% 2/1/30 # | 4,130,000 | 4,204,396 | |
| 144A 9.25% 6/1/32 # | 1,800,000 | 1,830,197 | |
| 144A 10.00% 2/15/31 # | 2,025,000 | 2,102,669 | |
| Discovery Communications | |||
| 3.625% 5/15/30 | 2,000,000 | 1,861,464 | |
| 3.95% 3/20/28 | 325,000 | 320,328 | |
| 4.125% 5/15/29 | 3,350,000 | 3,319,046 | |
| 5.00% 9/20/37 | 675,000 | 533,250 | |
| Discovery Global Holdings | |||
| 3.755% 3/15/27 | 125,000 | 124,238 | |
| 4.054% 3/15/29 | 1,075,000 | 1,064,959 | |
| 4.279% 3/15/32 | 2,350,000 | 2,110,229 | |
| 5.05% 3/15/42 | 3,675,000 | 2,696,788 | |
| DISH DBS | |||
| 5.125% 6/1/29 ‡ | 1,675,000 | 1,508,781 | |
| 144A 5.25% 12/1/26 # | 2,700,000 | 2,672,838 | |
| 144A 5.75% 12/1/28 # | 2,675,000 | 2,593,533 | |
| 7.375% 7/1/28 ‡ | 1,350,000 | 1,297,359 | |
| 7.75% 7/1/26 ‡ | 1,675,000 | 1,675,000 | |
| EW Scripps 144A 9.875% 8/15/30 # | 1,900,000 | 1,664,597 | |
| Gray Media | |||
| 144A 5.375% 11/15/31 # | 9,933,000 | 6,671,996 | |
| 144A 7.25% 8/15/33 # | 4,405,000 | 4,341,337 | |
| Principalamount° | Value (US $) | ||
| Corporate Bonds (continued) | |||
| Media (continued) | |||
| iHeartCommunications | |||
| 144A 4.75% 1/15/28 # | 2,900,000 | $ 2,778,875 | |
| 144A 7.00% 1/15/31 # | 350,000 | 308,652 | |
| 144A 7.75% 8/15/30 # | 2,000,000 | 1,867,470 | |
| 144A 9.125% 5/1/29 # | 2,955,000 | 2,869,837 | |
| 144A 10.875% 5/1/30 # | 3,100,000 | 2,695,450 | |
| Lamar Media 144A 5.375% 11/1/33 # | 1,025,000 | 1,005,340 | |
| McGraw-Hill Education 144A 7.375% 9/1/31 # | 2,400,000 | 2,441,004 | |
| Midcontinent Communications 144A 8.00% 8/15/32 # | 360,000 | 315,900 | |
| Nexstar Media | |||
| 144A 6.50% 9/15/33 # | 6,075,000 | 6,078,660 | |
| 144A 7.25% 4/15/34 # | 1,758,000 | 1,755,265 | |
| OAK-Eagle Acquireco | |||
| 144A 7.25% 7/1/33 # | 4,305,194 | 4,506,037 | |
| 144A 8.75% 7/1/34 # | 2,812,000 | 2,986,125 | |
| Outfront Media Capital 144A 4.25% 1/15/29 # | 1,350,000 | 1,315,275 | |
| Paramount Global | |||
| 4.20% 6/1/29 | 1,350,000 | 1,295,439 | |
| 4.20% 5/19/32 | 400,000 | 347,228 | |
| 4.375% 3/15/43 | 850,000 | 549,060 | |
| 4.60% 1/15/45 | 300,000 | 191,199 | |
| 4.95% 1/15/31 | 4,420,000 | 4,109,892 | |
| 4.95% 5/19/50 | 1,525,000 | 985,565 | |
| 5.25% 4/1/44 | 350,000 | 240,631 | |
| 5.85% 9/1/43 | 2,050,000 | 1,535,951 | |
| 6.875% 4/30/36 | 3,250,000 | 3,050,109 | |
| 7.875% 7/30/30 | 775,000 | 814,160 | |
| Playtika Holding 144A 4.25% 3/15/29 # | 1,400,000 | 1,254,239 | |
| RR Donnelley & Sons | |||
| 144A 9.50% 8/1/29 # | 1,350,000 | 1,401,025 | |
| PIK 144A 11.00% 6/1/31 #, « | 1,500,000 | 1,456,457 | |
| Sinclair Television Group 144A 8.125% 2/15/33 # | 1,350,000 | 1,388,362 | |
| Sirius XM Radio | |||
| 144A 3.875% 9/1/31 # | 2,350,000 | 2,135,627 | |
| 144A 4.00% 7/15/28 # | 2,425,000 | 2,362,746 | |
| Snap 144A 6.875% 3/1/33 # | 2,620,000 | 2,555,344 | |
| Univision Communications | |||
| 144A 7.375% 6/30/30 # | 1,570,000 | 1,575,539 | |
| 144A 9.375% 8/1/32 # | 3,650,000 | 3,711,517 | |
| 160,022,699 | |||
| Principalamount° | Value (US $) | ||
| Corporate Bonds (continued) | |||
| Non-Electric Utilities — 0.72% | |||
| AmeriGas Partners | |||
| 144A 6.875% 6/1/31 # | 1,275,000 | $ 1,291,733 | |
| 144A 9.50% 6/1/30 # | 3,495,000 | 3,752,145 | |
| Ferrellgas | |||
| 144A 5.875% 4/1/29 # | 3,385,000 | 3,294,387 | |
| 144A 9.25% 1/15/31 # | 1,949,000 | 2,055,314 | |
| Suburban Propane Partners 144A 5.00% 6/1/31 # | 1,600,000 | 1,517,553 | |
| 11,911,132 | |||
| Other — 0.04% | |||
| RRD Parent 144A 13.00% 2/4/30 #, ψ | 650,000 | 700,384 | |
| 700,384 | |||
| Real Estate — 2.84% | |||
| Anywhere Real Estate Group | |||
| 144A 5.25% 4/15/30 # | 675,000 | 651,869 | |
| 144A 5.75% 1/15/29 # | 2,700,000 | 2,687,381 | |
| 144A 7.00% 4/15/30 # | 3,350,000 | 3,387,976 | |
| Iron Mountain | |||
| 144A 4.50% 2/15/31 # | 2,675,000 | 2,559,873 | |
| 144A 5.25% 3/15/28 # | 1,525,000 | 1,523,890 | |
| 144A 5.25% 7/15/30 # | 4,125,000 | 4,065,794 | |
| 144A 6.25% 1/15/33 # | 2,675,000 | 2,704,315 | |
| 144A 6.25% 1/15/35 # | 2,125,000 | 2,135,939 | |
| Iron Mountain Information Management Services 144A 5.00% 7/15/32 # | 5,375,000 | 5,167,439 | |
| MPT Operating Partnership | |||
| 3.50% 3/15/31 | 675,000 | 464,653 | |
| 4.625% 8/1/29 | 1,200,000 | 965,486 | |
| 5.00% 10/15/27 | 3,565,000 | 3,460,153 | |
| 144A 8.50% 2/15/32 # | 1,675,000 | 1,716,021 | |
| Outfront Media Capital 144A 4.625% 3/15/30 # | 1,925,000 | 1,868,183 | |
| RHP Hotel Properties 144A 7.25% 7/15/28 # | 2,390,000 | 2,443,402 | |
| Rithm Capital | |||
| 144A 8.00% 4/1/29 # | 1,750,000 | 1,758,444 | |
| 144A 8.00% 7/15/30 # | 1,175,000 | 1,172,909 | |
| 144A 8.50% 6/1/31 # | 1,275,000 | 1,279,590 | |
| RLJ Lodging Trust 144A 4.00% 9/15/29 # | 2,350,000 | 2,239,703 | |
| Starwood Property Trust | |||
| 144A 6.125% 6/1/31 # | 300,000 | 301,781 | |
| 144A 6.50% 7/1/30 # | 4,116,000 | 4,211,121 | |
| 46,765,922 | |||
| Principalamount° | Value (US $) | ||
| Corporate Bonds (continued) | |||
| Retail — 3.65% | |||
| 1011778 BC | |||
| 144A 4.00% 10/15/30 # | 5,670,000 | $ 5,356,018 | |
| 144A 6.125% 6/15/29 # | 1,000,000 | 1,015,520 | |
| Academy 144A 5.875% 5/15/31 # | 1,300,000 | 1,300,840 | |
| Albertsons | |||
| 144A 4.875% 2/15/30 # | 2,150,000 | 2,081,325 | |
| 144A 5.50% 3/31/31 # | 1,000,000 | 978,344 | |
| 144A 5.625% 3/31/32 # | 2,350,000 | 2,273,265 | |
| 144A 5.75% 3/31/34 # | 1,735,000 | 1,654,488 | |
| 144A 6.25% 3/15/33 # | 675,000 | 669,439 | |
| 144A 6.50% 2/15/28 # | 1,675,000 | 1,689,785 | |
| Bath & Body Works 6.875% 11/1/35 | 3,720,000 | 3,811,821 | |
| Beach Acquisition Bidco PIK 144A 10.00% 7/15/33 #, « | 8,121,444 | 9,225,839 | |
| Carvana PIK 144A 9.00% 6/1/30 #, « | 5,122,650 | 5,300,201 | |
| Global Auto Holdings | |||
| 144A 8.375% 1/15/29 # | 1,400,000 | 1,380,232 | |
| 144A 8.75% 1/15/32 # | 800,000 | 759,204 | |
| Ingles Markets 144A 4.00% 6/15/31 # | 1,600,000 | 1,510,799 | |
| Kroger | |||
| 5.00% 9/15/34 | 1,000,000 | 987,182 | |
| 5.50% 9/15/54 | 2,525,000 | 2,370,020 | |
| 5.65% 9/15/64 | 1,400,000 | 1,313,332 | |
| Magnera 144A 7.25% 11/15/31 # | 2,581,000 | 2,521,805 | |
| Michaels | |||
| 144A 8.50% 3/15/33 # | 1,387,000 | 1,374,634 | |
| 144A 11.00% 3/15/34 # | 671,000 | 657,697 | |
| Murphy Oil USA 144A 5.875% 6/1/34 # | 1,017,000 | 1,020,817 | |
| PetSmart | |||
| 144A 7.50% 9/15/32 # | 3,350,000 | 3,353,142 | |
| 144A 10.00% 9/15/33 # | 2,230,000 | 2,235,133 | |
| Rakuten Group 144A 11.25% 2/15/27 # | 2,720,000 | 2,811,714 | |
| Yum! Brands 5.375% 4/1/32 | 2,590,000 | 2,577,528 | |
| 60,230,124 | |||
| Services — 4.70% | |||
| Albion Financing 1 144A 7.00% 5/21/30 # | 5,725,000 | 5,931,724 | |
| Allied Universal Holdco | |||
| Allied Universal Holdco 144A 6.00% 6/1/29 # | 8,960,000 | 8,903,106 | |
| 144A 7.875% 2/15/31 # | 4,605,000 | 4,816,457 | |
| APi Group DE 144A 5.75% 6/1/34 # | 650,000 | 644,240 | |
| Principalamount° | Value (US $) | ||
| Corporate Bonds (continued) | |||
| Services (continued) | |||
| Avis Budget Car Rental | |||
| 144A 4.75% 4/1/28 # | 2,670,000 | $ 2,627,688 | |
| 144A 5.375% 3/1/29 # | 1,000,000 | 980,915 | |
| 144A 8.00% 2/15/31 # | 425,000 | 429,518 | |
| 144A 8.375% 6/15/32 # | 2,125,000 | 2,140,776 | |
| EquipmentShare.com | |||
| 144A 8.00% 3/15/33 # | 1,350,000 | 1,383,168 | |
| 144A 8.625% 5/15/32 # | 2,000,000 | 2,082,970 | |
| 144A 9.00% 5/15/28 # | 400,000 | 408,545 | |
| Gaia Purchaser 144A 7.625% 7/15/33 # | 1,275,000 | 1,290,411 | |
| Garda World Security 144A 8.25% 8/1/32 # | 1,350,000 | 1,382,717 | |
| GEO Group 10.25% 4/15/31 | 1,350,000 | 1,459,404 | |
| GFL Environmental 144A 6.75% 1/15/31 # | 675,000 | 695,269 | |
| GFL Environmental Holdings US | |||
| 144A 5.50% 2/1/34 # | 800,000 | 783,471 | |
| 144A 5.625% 7/1/31 # | 1,475,000 | 1,475,976 | |
| Herc Holdings 144A 6.625% 6/15/29 # | 1,425,000 | 1,455,913 | |
| Hertz 144A 12.625% 7/15/29 # | 1,250,000 | 1,018,435 | |
| Imola Merger 144A 4.75% 5/15/29 # | 3,389,000 | 3,330,465 | |
| Neptune Bidco US | |||
| 144A 9.29% 4/15/29 # | 3,260,000 | 3,327,198 | |
| 144A 9.50% 2/15/33 # | 1,325,000 | 1,341,307 | |
| NESCO Holdings II 144A 5.50% 4/15/29 # | 1,350,000 | 1,343,850 | |
| QXO Building Products 144A 6.75% 4/30/32 # | 2,891,000 | 2,986,935 | |
| S&S Holdings 144A 8.375% 10/1/31 # | 640,000 | 606,149 | |
| Staples 144A 10.75% 9/1/29 # | 2,830,000 | 2,701,965 | |
| Synergy Infrastructure Holdings | |||
| 144A 7.00% 7/15/34 # | 375,000 | 380,593 | |
| 144A 7.875% 12/1/30 # | 3,574,000 | 3,744,233 | |
| TKC Holdings | |||
| 144A 8.50% 8/15/30 # | 1,350,000 | 1,390,322 | |
| 144A 12.00% 2/15/31 # | 1,350,000 | 1,423,881 | |
| United Rentals North America | |||
| 3.75% 1/15/32 | 925,000 | 858,215 | |
| 3.875% 2/15/31 | 500,000 | 472,729 | |
| 4.00% 7/15/30 | 2,350,000 | 2,248,484 | |
| 4.875% 1/15/28 | 375,000 | 373,991 | |
| 144A 5.375% 11/15/33 # | 750,000 | 739,273 | |
| 144A 6.00% 12/15/29 # | 275,000 | 279,661 | |
| 144A 6.125% 3/15/34 # | 1,175,000 | 1,206,059 | |
| Principalamount° | Value (US $) | ||
| Corporate Bonds (continued) | |||
| Services (continued) | |||
| Williams Scotsman 144A 6.625% 4/15/30 # | 8,510,000 | $ 8,773,359 | |
| 77,439,372 | |||
| Technology & Electronics — 2.76% | |||
| Black Pearl Compute 144A 6.125% 2/15/31 # | 1,375,000 | 1,394,340 | |
| Cipher Compute 144A 7.125% 11/15/30 # | 3,112,000 | 3,238,884 | |
| Cloud Software Group | |||
| 144A 6.50% 3/31/29 # | 5,310,000 | 5,156,123 | |
| 144A 8.25% 6/30/32 # | 425,000 | 398,635 | |
| 144A 9.00% 9/30/29 # | 2,407,000 | 2,338,140 | |
| Coherent 144A 5.00% 12/15/29 # | 2,415,000 | 2,379,102 | |
| Core Scientific Finance I 144A 7.75% 5/15/31 # | 3,425,000 | 3,475,693 | |
| Flash Compute 144A 7.25% 12/31/30 # | 1,375,000 | 1,415,525 | |
| ION Platform Finance US 144A 7.875% 9/30/32 # | 2,600,000 | 1,887,067 | |
| Kioxia Holdings | |||
| 144A 6.25% 7/24/30 # | 1,700,000 | 1,754,015 | |
| 144A 6.625% 7/24/33 # | 1,000,000 | 1,046,229 | |
| McAfee 144A 7.375% 2/15/30 # | 1,625,000 | 1,382,171 | |
| Nokia Oyj 6.625% 5/15/39 | 875,000 | 930,596 | |
| Seagate Data Storage Technology | |||
| 5.875% 7/15/30 | 1,350,000 | 1,374,802 | |
| 144A 9.625% 12/1/32 # | 1,675,000 | 1,848,049 | |
| UKG 144A 6.875% 2/1/31 # | 7,525,000 | 7,315,272 | |
| WULF Compute 144A 7.75% 10/15/30 # | 5,899,000 | 6,199,631 | |
| Zebra Technologies 144A 6.50% 6/1/32 # | 2,000,000 | 2,025,514 | |
| 45,559,788 | |||
| Telecommunications — 7.09% | |||
| Altice France | |||
| 144A 6.50% 10/15/31 # | 1,350,000 | 1,309,519 | |
| 144A 6.50% 4/15/32 # | 3,105,000 | 3,003,349 | |
| 144A 6.875% 10/15/30 # | 1,350,000 | 1,310,895 | |
| 144A 6.875% 7/15/32 # | 2,605,000 | 2,529,051 | |
| 144A 9.50% 11/1/29 # | 3,110,000 | 3,159,406 | |
| Altice France Lux 3 144A 10.00% 1/15/33 # | 3,675,000 | 3,618,753 | |
| APLD ComputeCo 144A 9.25% 12/15/30 # | 5,062,000 | 5,463,692 | |
| APLD ComputeCo 3 144A 7.00% 6/15/31 # | 1,625,000 | 1,623,701 | |
| Principalamount° | Value (US $) | ||
| Corporate Bonds (continued) | |||
| Telecommunications (continued) | |||
| AT&T 6.00% 4/30/56 | 3,725,000 | $ 3,602,506 | |
| Connect Finco 144A 9.00% 9/15/29 # | 2,810,000 | 2,960,318 | |
| CoreWeave | |||
| 144A 9.00% 2/1/31 # | 2,230,000 | 2,206,506 | |
| 144A 9.25% 6/1/30 # | 800,000 | 805,784 | |
| 144A 9.625% 7/15/32 # | 1,844,000 | 1,818,737 | |
| 144A 9.75% 10/1/31 # | 6,350,000 | 6,340,500 | |
| Digicel International Finance 144A 8.625% 8/1/32 # | 5,655,000 | 5,826,912 | |
| EchoStar | |||
| PIK 6.75% 11/30/30 > | 3,350,000 | 3,409,801 | |
| 10.75% 11/30/29 | 4,795,000 | 5,184,352 | |
| ELK Grove Village Property 144A 7.50% 6/15/31 # | 875,000 | 881,573 | |
| Iliad Holding 144A 8.50% 4/15/31 # | 2,610,000 | 2,766,665 | |
| Level 3 Financing | |||
| 144A 6.875% 6/30/33 # | 675,000 | 693,937 | |
| 144A 7.00% 3/31/34 # | 1,850,000 | 1,908,882 | |
| 144A 7.50% 2/15/37 # | 425,000 | 436,594 | |
| 144A 8.50% 1/15/36 # | 1,350,000 | 1,450,749 | |
| Lumen Technologies 144A 5.375% 6/15/29 # | 475,000 | 463,190 | |
| Meridian Arc Holdco 144A 6.25% 4/30/31 # | 5,325,000 | 5,340,416 | |
| PR RNO Property Owner 1 144A 6.50% 5/1/31 # | 575,000 | 574,567 | |
| Rogers Communications 7.125% 4/15/55 μ | 4,125,000 | 4,239,957 | |
| Sable International Finance 144A 7.125% 10/15/32 # | 3,555,000 | 3,532,620 | |
| Stingray Compute 144A 6.00% 6/15/31 # | 975,000 | 978,142 | |
| Sunrise FinCo I 144A 4.875% 7/15/31 # | 1,000,000 | 946,180 | |
| SV RNO Property Owner 1 144A 5.875% 3/1/31 # | 2,795,000 | 2,756,480 | |
| Uniti Group | |||
| 144A 6.00% 1/15/30 # | 2,000,000 | 1,955,372 | |
| 144A 8.625% 6/15/32 # | 3,350,000 | 3,497,603 | |
| Uniti Services 144A 7.50% 10/15/33 # | 5,678,000 | 5,979,229 | |
| Viasat 144A 7.50% 5/30/31 # | 1,125,000 | 1,137,500 | |
| Vmed O2 UK Financing I 144A 7.75% 4/15/32 # | 11,765,000 | 10,640,160 | |
| VZ Secured Financing 144A 7.50% 1/15/33 # | 5,500,000 | 5,269,088 | |
| Windstream Services 144A 8.25% 10/1/31 # | 4,025,000 | 4,246,737 | |
| Principalamount° | Value (US $) | ||
| Corporate Bonds (continued) | |||
| Telecommunications (continued) | |||
| Yondr JK 1 144A 6.875% 6/30/31 # | 1,125,000 | $ 1,128,663 | |
| Zayo Group Holdings PIK 144A 13.75% 9/9/30 #, « | 1,950,000 | 1,928,511 | |
| 116,926,597 | |||
| Transportation — 0.85% | |||
| Alaska Airlines 144A 6.50% 6/1/31 # | 850,000 | 855,526 | |
| American Airlines | |||
| 144A 5.75% 4/20/29 # | 4,720,000 | 4,731,951 | |
| 144A 7.25% 2/15/28 # | 1,350,000 | 1,367,584 | |
| Granite Construction 144A 6.375% 6/15/34 # | 125,000 | 127,419 | |
| JetBlue Airways 144A 9.875% 9/20/31 # | 1,150,000 | 1,043,128 | |
| PODS 144A 8.75% 5/15/31 # | 1,675,000 | 1,640,784 | |
| United Airlines Holdings 5.375% 3/1/31 | 2,025,000 | 2,012,987 | |
| VistaJet Malta Finance 144A 8.75% 1/15/32 # | 200,000 | 198,288 | |
| XPO 144A 7.125% 2/1/32 # | 2,000,000 | 2,075,664 | |
| 14,053,331 | |||
| Total Corporate Bonds (cost $1,495,924,748) | 1,479,842,260 | ||
| Loan Agreements — 0.22% | |||
| Media — 0.21% | |||
| Discovery Global Holdings 6.144% (SOFR01M + 2.50%) 6/3/33 • | 465,865 | 466,573 | |
| iHeartCommunications Tranche B TBD 5/1/29 | 1,396,456 | 1,335,943 | |
| Sinclair Television Group Tranche B-6 TBD 12/31/29 | 623,437 | 547,846 | |
| Univision Communications 1st Lien 7.982% (SOFR03M + 4.25%) 6/24/29 • | 1,123,414 | 1,124,349 | |
| 3,474,711 | |||
| Telecommunications — 0.01% | |||
| Coreweave Compute Acquisition 8.12% (SOFR01M + 4.50%) 11/6/31 • | 195,339 | 199,538 | |
| 199,538 | |||
| Total Loan Agreements (cost $3,709,127) | 3,674,249 | ||
| Number of shares | Value (US $) | ||
| Common Stocks — 0.66%♣ | |||
| Consumer Discretionary — 0.63% | |||
| ASG Warrant =, †, π | 19,688 | $ 0 | |
| Studio City International Holdings ADR † | 5,668,119 | 10,372,658 | |
| 10,372,658 | |||
| Energy — 0.03% | |||
| BIS Industries Holdings <<, =, †, π | 19,682,813 | 0 | |
| Maritime Finance =, †, π | 1,750,000 | 574,630 | |
| Sabine Oil & Gas Holdings =, † | 5,385 | 6,671 | |
| Westmoreland Coal =, †, π | 4,238 | 3,178 | |
| 584,479 | |||
| Financials — 0.00% | |||
| New Cotai <<, =, †, π, ∞ | 20,316,462 | 0 | |
| 0 | |||
| Total Common Stocks (cost $262,038,319) | 10,957,137 | ||
| Short-Term Investments — 6.37% | |||
| Money Market Mutual Funds — 6.37% | |||
| BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 3.54%) | 26,239,795 | 26,239,795 | |
| Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 3.53%) | 26,239,796 | 26,239,796 | |
| Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 3.59%) | 26,239,796 | 26,239,796 | |
| Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 3.56%) | 26,239,795 | 26,239,795 | |
| Total Short-Term Investments (cost $104,959,182) | 104,959,182 | ||
| Total Value of Securities—98.15% (cost $1,893,898,486) | 1,617,979,427 | ||
| Receivables and Other Assets Net of Liabilities—1.85% | 30,482,575 | ||
| Net Assets Applicable to 287,503,062 Shares Outstanding—100.00% | $1,648,462,002 | ||
| ° | Principal amount shown is stated in USD unless noted that the security is denominated in another currency. |
| << | Affiliated company. |
| = | The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security. |
| >> | PIK. 100% of the income received was in the form of principal. |
| # | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At June 30, 2026, the aggregate value of Rule 144A securities was $1,270,252,611, which represents 77.06% of the Fund’s net assets. |
| μ | Fixed to variable rate investment. The rate shown reflects the fixed rate in effect at June 30, 2026. Rate will reset at a future date. |
| ψ | Perpetual security. Maturity date represents next call date. |
| > | PIK. 100% of the income received was in the form of cash. |
| >>> | PIK. 60% of the income received was in cash and 40% was in principal. |
| ‡ | Security is currently in default. |
| « | PIK. The first payment of cash and/or principal will be made after June 30, 2026. |
| • | Variable rate investment. Rates reset periodically. Rate shown reflects the rate in effect at June 30, 2026. For securities based on a published reference rate and spread, the reference rate and spread are indicated in their descriptions. The reference rate descriptions (i.e. SOFR01M, SOFR03M, etc.) used in this report are identical for different securities, but the underlying reference rates may differ due to the timing of the reset period. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions, or for mortgage-backed securities, are impacted by the individual mortgages which are paying off over time. These securities do not indicate a reference rate and spread in their descriptions. |
| ♣ | Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes. |
| † | Non-income producing security. |
| ∞ | Represents a position held in the Subsidiary. |
| X | This loan will settle after June 30, 2026, at which time the interest rate, based on the SOFR and the agreed upon spread on trade date, will be reflected. |
| π | Restricted security. These investments are in securities not registered under the Securities Act of 1933, as amended, and have certain restrictions on resale which may limit their liquidity. At June 30, 2026, the aggregate value of restricted securities was $19,124,407, which represented 1.16% of the Fund’s net assets. See table below for additional details on restricted securities. |
| Restricted Securities | ||||||
| Investments | Date of Acquisition | Cost | Value | |||
| ASG Warrant | 5/30/18 | $1,206,000 | $0 | |||
| BIS Industries Holdings | 12/22/17 | 1,852,487 | 0 | |||
| Maritime Finance | 9/19/13 | 18,480,002 | 574,630 | |||
| New Cotai | 7/10/25 | 194,451,977 | 0 | |||
| New Cotai PIK | 2/7/22 | 27,267,110 | 18,546,599 | |||
| Westmoreland Coal | 3/15/19 | 3,179 | 3,178 | |||
| Total | $243,260,755 | $19,124,407 |
| Borrower | Principal Amount | Value | Commitment | Unrealized Appreciation (Depreciation) | ||||
| Coreweave Compute Acquisition TBD 11/6/31 X | $354,661 | $362,287 | $351,135 | $11,152 |
| Summary of abbreviations: |
| ADR – American Depositary Receipt |
| FMC – First Mile Connectivity |
| LNG – Liquefied Natural Gas |
| PIK – Payment-in-kind |
| SOFR – Secured Overnight Financing Rate |
| SOFR01M – Secured Overnight Financing Rate 1 Month |
| SOFR03M – Secured Overnight Financing Rate 3 Month |
| TBD – To be determined |
| USD – US Dollar |