Alternative Funds - 1.5%
|
|||
Shares
|
Value ($)
|
||
Fidelity Private Credit Company LLC (n)(o)
(Cost $45,965,983)
|
4,692,941
|
43,398,438
|
|
Asset-Backed Securities - 0.0%
|
|||
Principal
Amount (a)
|
Value ($)
|
||
UNITED STATES - 0.0%
|
|||
Systima Capital Management LLC Series 2026-SUP1 Class E, 7.1161% 6/27/2033 (f)(l)
(Cost $549,182)
|
549,183
|
549,182
|
|
Bank Loan Obligations - 11.4%
|
|||
Principal
Amount (a)
|
Value ($)
|
||
COLOMBIA - 0.1%
|
|||
Energy - 0.1%
|
|||
Oil, Gas & Consumable Fuels - 0.1%
|
|||
Canacol Energy Ltd Tranche DIP 1LN, term loan CME Term SOFR 3 month Index + 9%, 15% 9/30/2026 (c)(e)(f)(g)
|
2,266,845
|
2,266,845
|
|
Canacol Energy Ltd Tranche SECOND DIP, term loan CME Term SOFR 3 month Index + 16%, 15% 9/30/2026 (c)(e)(f)(g)
|
1,138,511
|
1,138,511
|
|
TOTAL COLOMBIA
|
3,405,356
|
||
FINLAND - 0.1%
|
|||
Materials - 0.1%
|
|||
Paper & Forest Products - 0.1%
|
|||
Ahlstrom Holding 3 Oy Tranche B 1LN, term loan CME Term SOFR 1 month Index + 4.25%, 8.2438% 5/23/2030 (e)(f)(g)
|
4,189,246
|
4,193,184
|
|
FRANCE - 0.1%
|
|||
Communication Services - 0.1%
|
|||
Diversified Telecommunication Services - 0.1%
|
|||
Altice France SA Tranche B14 1LN, term loan CME Term SOFR 1 month Index + 6.875%, 10.6156% 5/31/2031 (e)(f)(g)
|
3,825,544
|
3,888,513
|
|
LUXEMBOURG - 0.0%
|
|||
Communication Services - 0.0%
|
|||
Media - 0.0%
|
|||
Altice Financing SA Tranche B 1LN, term loan CME Term SOFR 3 month Index + 5%, 8.7529% 10/31/2027 (e)(f)(g)
|
242,487
|
158,587
|
|
NETHERLANDS - 0.1%
|
|||
Utilities - 0.1%
|
|||
Independent Power and Renewable Electricity Producers - 0.1%
|
|||
Enstall Group BV Tranche B 1LN, term loan CME Term SOFR 3 month Index + 5%, 8.7322% 8/30/2028 (e)(f)(g)
|
5,337,841
|
3,149,326
|
|
SWITZERLAND - 0.4%
|
|||
Materials - 0.4%
|
|||
Chemicals - 0.4%
|
|||
Consolidated Energy Finance SA 1LN, term loan CME Term SOFR 3 month Index + 4.75%, 8.5727% 11/15/2030 (e)(f)(g)
|
5,387,498
|
5,219,138
|
|
Consolidated Energy Finance SA Tranche B 1LN, term loan CME Term SOFR 3 month Index + 4.5%, 8.3227% 11/15/2030 (e)(f)(g)
|
6,341,504
|
6,153,542
|
|
TOTAL SWITZERLAND
|
11,372,680
|
||
UNITED STATES - 10.6%
|
|||
Communication Services - 0.5%
|
|||
Diversified Telecommunication Services - 0.2%
|
|||
Connect Holding II LLC Tranche B 1LN, term loan CME Term SOFR 1 month Index + 5%, 8.7244% 10/3/2031 (e)(f)(g)
|
695,874
|
466,528
|
|
Connect Holding II LLC Tranche B-DD 1LN, term loan CME Term SOFR 1 month Index + 4.25%, 7.9898% 4/3/2031 (e)(f)(g)
|
6,199,000
|
5,657,455
|
|
6,123,983
|
|||
Entertainment - 0.2%
|
|||
AP Core Holdings II LLC Tranche B 1LN, term loan CME Term SOFR 1 month Index + 6.5%, 10.1433% 5/15/2031 (e)(f)(g)
|
6,107,000
|
6,108,527
|
|
Media - 0.1%
|
|||
CMG Media Corp Tranche B2 1LN, term loan CME Term SOFR 3 month Index + 3.5%, 7.3322% 6/18/2029 (e)(f)(g)
|
3,587,985
|
3,318,886
|
|
TOTAL COMMUNICATION SERVICES
|
15,551,396
|
||
Consumer Discretionary - 2.4%
|
|||
Automobiles - 0.2%
|
|||
CWGS Group LLC Tranche B 1LN, term loan CME Term SOFR 1 month Index + 2.5%, 6.3454% 6/3/2028 (e)(f)(g)
|
6,109,035
|
5,666,130
|
|
Diversified Consumer Services - 0.1%
|
|||
TKC Holdings Inc 1LN, term loan CME Term SOFR 1 month Index + 4.5%, 8.1696% 8/19/2030 (e)(f)(g)
|
3,002,475
|
2,987,463
|
|
Hotels, Restaurants & Leisure - 1.1%
|
|||
Horizon US Finco LP Tranche B 1LN, term loan CME Term SOFR 3 month Index + 4.75%, 8.5568% 10/31/2031 (e)(f)(g)
|
6,425,276
|
6,189,147
|
|
MajorDrive Holdings IV LLC 1LN, term loan CME Term SOFR 3 month Index + 4%, 7.9938% 6/1/2028 (e)(f)(g)
|
7,994,446
|
7,662,676
|
|
Sizzling Platter LLC 1LN, term loan CME Term SOFR 1 month Index + 5%, 8.7309% 7/2/2032 (e)(f)(g)
|
6,734,305
|
6,427,894
|
|
Sizzling Platter LLC Tranche DD 1LN, term loan CME Term SOFR 1 month Index + 2.5%, 5% 7/2/2032 (e)(f)(g)(j)
|
288,556
|
275,427
|
|
United PF Holdings LLC 1LN, term loan CME Term SOFR 3 month Index + 4%, 8.0843% 12/30/2026 (c)(e)(f)(g)
|
14,636,606
|
9,367,429
|
|
United PF Holdings LLC Tranche B 1LN, term loan CME Term SOFR 3 month Index + 8.5%, 12.5843% 12/30/2026 (c)(e)(f)(g)
|
452,812
|
294,328
|
|
30,216,901
|
|||
Household Durables - 0.5%
|
|||
TGP Holdings III LLC Tranche B 1LN, term loan CME Term SOFR 1 month Index + 3.25%, 7.0809% 6/29/2028 (e)(f)(g)
|
8,011,817
|
7,624,606
|
|
Weber-Stephen Products LLC Tranche B 1LN, term loan CME Term SOFR 1 month Index + 3.75%, 7.4754% 10/1/2032 (e)(f)(g)
|
7,388,483
|
7,315,780
|
|
14,940,386
|
|||
Specialty Retail - 0.5%
|
|||
Champions Financing Inc Tranche B 1LN, term loan CME Term SOFR 3 month Index + 4.75%, 8.4158% 2/23/2029 (e)(f)(g)
|
6,367,399
|
6,181,153
|
|
LBM Acquisition LLC Tranche B 1LN, term loan CME Term SOFR 1 month Index + 3.75%, 7.5744% 6/6/2031 (e)(f)(g)
|
1,725,000
|
1,374,256
|
|
Michaels Cos Inc/The 1LN, term loan CME Term SOFR 3 month Index + 5%, 8.7322% 3/15/2033 (e)(f)(g)
|
2,309,000
|
2,302,974
|
|
RVR Dealership Holdings LLC Tranche B 1LN, term loan CME Term SOFR 1 month Index + 4.5%, 8.3102% 2/26/2033 (e)(f)(g)
|
1,686,988
|
1,595,603
|
|
Staples Inc Tranche B 1LN, term loan CME Term SOFR 3 month Index + 5.75%, 9.4132% 9/4/2029 (e)(f)(g)
|
3,466,475
|
3,220,355
|
|
14,674,341
|
|||
TOTAL CONSUMER DISCRETIONARY
|
68,485,221
|
||
Consumer Staples - 0.1%
|
|||
Consumer Staples Distribution & Retail - 0.1%
|
|||
C&S Wholesale Grocers Inc Tranche B 1LN, term loan CME Term SOFR 1 month Index + 5%, 8.7322% 9/20/2030 (e)(f)(g)
|
2,980,175
|
2,808,815
|
|
Food Products - 0.0%
|
|||
Del Monte Foods Corp II Inc 1LN, term loan CME Term SOFR 3 month Index + 8.15%, 0% (c)(e)(f)(g)(h)
|
46,174
|
0
|
|
Del Monte Foods Corp II Inc Tranche FLFO B 1LN, term loan CME Term SOFR 3 month Index + 8%, 0% (c)(e)(f)(g)(h)
|
13,352
|
0
|
|
Del Monte Foods Corp II Inc Tranche TLB DIP ROLLUP, term loan CME Term SOFR 3 month Index + 9.5%, 0% (c)(e)(f)(g)(h)
|
102,805
|
38,935
|
|
38,935
|
|||
TOTAL CONSUMER STAPLES
|
2,847,750
|
||
Energy - 0.6%
|
|||
Oil, Gas & Consumable Fuels - 0.6%
|
|||
New Fortress Energy Inc Tranche B 1LN, term loan CME Term SOFR 3 month Index + 5.5%, 0% (e)(f)(g)(h)
|
29,403,405
|
17,519,431
|
|
Financials - 0.3%
|
|||
Financial Services - 0.1%
|
|||
Vci Asset Holdings 3 LLC Tranche TL, term loan 6.875% 4/15/2031 (c)(e)
|
1,805,000
|
1,836,587
|
|
Insurance - 0.2%
|
|||
Asurion LLC Tranche B14 1LN, term loan CME Term SOFR 1 month Index + 3.75%, 7.5727% 2/23/2033 (e)(f)(g)
|
6,973,400
|
6,525,917
|
|
TOTAL FINANCIALS
|
8,362,504
|
||
Health Care - 0.9%
|
|||
Health Care Providers & Services - 0.2%
|
|||
Cano Health LLC Tranche INITIAL EXCHANGE TERM LOANS 1LN, term loan CME Term SOFR 3 month Index + 10%, 13.7322% 6/28/2029 (c)(e)(f)(g)
|
1,125,675
|
163,110
|
|
Charlotte Buyer Inc Tranche B 1LN, term loan CME Term SOFR 1 month Index + 4.5%, 8.1483% 6/30/2031 (e)(f)(g)
|
2,005,000
|
2,006,484
|
|
ModivCare Inc Tranche EXIT 1LN, term loan CME Term SOFR 1 month Index + 5%, 8.7322% 12/29/2030 (e)(f)(g)
|
507,450
|
425,411
|
|
Team Public Choices LLC Tranche B 1LN, term loan CME Term SOFR 1 month Index + 5.25%, 8.9822% 3/31/2033 (e)(f)(g)
|
2,718,000
|
2,692,288
|
|
5,287,293
|
|||
Pharmaceuticals - 0.7%
|
|||
1261229 BC Ltd Tranche B 1LN, term loan CME Term SOFR 1 month Index + 6.25%, 9.9809% 10/8/2030 (e)(f)(g)
|
19,804,919
|
19,192,749
|
|
TOTAL HEALTH CARE
|
24,480,042
|
||
Industrials - 1.9%
|
|||
Building Products - 0.3%
|
|||
Cornerstone Building Brands Inc 1LN, term loan CME Term SOFR 1 month Index + 5.625%, 9.2894% 8/1/2028 (e)(f)(g)
|
2,396,791
|
1,218,361
|
|
Cornerstone Building Brands Inc Tranche B 1LN, term loan CME Term SOFR 1 month Index + 3.25%, 7.0144% 4/12/2028 (e)(f)(g)
|
10,022,516
|
5,042,628
|
|
Cornerstone Building Brands Inc Tranche C 1LN, term loan CME Term SOFR 1 month Index + 4.5%, 8.1644% 5/15/2031 (e)(f)(g)
|
5,956,970
|
2,650,851
|
|
8,911,840
|
|||
Commercial Services & Supplies - 1.3%
|
|||
Artera Services LLC 1LN, term loan CME Term SOFR 3 month Index + 4.5%, 8.2309% 2/15/2031 (e)(f)(g)
|
6,925,703
|
6,102,029
|
|
Brand Industrial Services Inc Tranche B 1LN, term loan CME Term SOFR 3 month Index + 4.5%, 8.1632% 8/1/2030 (e)(f)(g)
|
11,448,066
|
9,094,115
|
|
CSC ServiceWorks East LLC Tranche EXCHANGE FLSO TL 1LN, term loan CME Term SOFR 1 month Index + 4%, 8.0138% 9/4/2030 (e)(f)(g)
|
18,748,966
|
13,827,363
|
|
Neptune Bidco US Inc Tranche B 1LN, term loan CME Term SOFR 3 month Index + 5%, 8.8626% 2/3/2033 (e)(f)(g)
|
5,350,000
|
5,314,744
|
|
Vericast Corp 1LN, term loan CME Term SOFR 1 month Index + 7.75%, 11.5% 6/15/2030 (e)(f)(g)
|
2,949,080
|
2,919,589
|
|
37,257,840
|
|||
Passenger Airlines - 0.3%
|
|||
American Airlines Inc Tranche B 1LN, term loan CME Term SOFR 1 month Index + 3.25%, 6.6658% 5/29/2033 (e)(f)(g)
|
8,692,000
|
8,623,159
|
|
Transportation Infrastructure - 0.0%
|
|||
Carrix Inc Tranche B 1LN, term loan CME Term SOFR 1 month Index + 2%, 0% 7/27/2033 (e)(f)(g)(i)
|
408,333
|
407,313
|
|
Carrix Inc Tranche DD 1LN, term loan CME Term SOFR 1 month Index + 2%, 0% 7/27/2033 (e)(f)(g)(i)
|
81,667
|
81,462
|
|
488,775
|
|||
TOTAL INDUSTRIALS
|
55,281,614
|
||
Information Technology - 1.1%
|
|||
IT Services - 0.3%
|
|||
Constant Contact Inc 2LN, term loan CME Term SOFR 3 month Index + 7.5%, 11.5145% 2/12/2029 (e)(f)(g)
|
626,000
|
563,399
|
|
Constant Contact Inc Tranche B 1LN, term loan CME Term SOFR 3 month Index + 4%, 8.0145% 2/10/2028 (e)(f)(g)
|
7,379,152
|
6,980,678
|
|
7,544,077
|
|||
Software - 0.8%
|
|||
CoreWeave Financing DDTL V LLC Tranche DD-CAPEX 1LN, term loan CME Term SOFR 1 month Index + 5.5%, 0% 9/30/2031 (e)(f)(g)(i)
|
295,000
|
295,369
|
|
MH Sub I LLC Tranche B 1LN, term loan CME Term SOFR 1 month Index + 4.25%, 7.9809% 5/3/2028 (e)(f)(g)
|
4,700,334
|
4,552,462
|
|
Proofpoint Inc Tranche B 1LN, term loan CME Term SOFR 1 month Index + 3%, 6.7322% 8/31/2028 (e)(f)(g)
|
18,966,849
|
18,623,170
|
|
23,471,001
|
|||
TOTAL INFORMATION TECHNOLOGY
|
31,015,078
|
||
Materials - 2.7%
|
|||
Chemicals - 2.4%
|
|||
A-Gas FinCo Inc Tranche B 1LN, term loan CME Term SOFR 3 month Index + 5.25%, 8.9822% 12/14/2029 (e)(f)(g)
|
4,740,000
|
4,445,456
|
|
Advancion Holdings LLC 1LN, term loan CME Term SOFR 1 month Index + 4.75%, 8.4158% 11/24/2027 (e)(f)(g)
|
269,302
|
251,798
|
|
Advancion Holdings LLC 2LN, term loan CME Term SOFR 3 month Index + 7.75%, 11.5158% 11/24/2028 (e)(f)(g)
|
5,185,475
|
3,889,106
|
|
Advancion Holdings LLC Tranche B 1LN, term loan CME Term SOFR 1 month Index + 4%, 7.7658% 11/24/2027 (e)(f)(g)
|
10,313,281
|
9,642,919
|
|
American Rock Salt Co LLC 1LN, term loan CME Term SOFR 3 month Index + 4%, 7.9938% 6/9/2028 (e)(f)(g)
|
555,385
|
512,542
|
|
Discovery Purchaser Corp Tranche B 1LN, term loan CME Term SOFR 3 month Index + 3.75%, 7.4832% 10/4/2029 (e)(f)(g)
|
8,757,202
|
8,713,416
|
|
Herens US Holdco Corp Tranche B 1LN, term loan CME Term SOFR 3 month Index + 3.925%, 7.7572% 7/3/2028 (e)(f)(g)
|
12,029,106
|
11,423,922
|
|
Hexion Holdings Corp 1LN, term loan CME Term SOFR 1 month Index + 4%, 7.7244% 3/15/2029 (e)(f)(g)
|
10,870,050
|
10,663,954
|
|
Hexion Inc 2LN, term loan CME Term SOFR 1 month Index + 7.4375%, 11.2684% 3/15/2030 (e)(f)(g)
|
3,654,059
|
3,348,031
|
|
M2S Group Intermediate Holdings Inc Tranche B 1LN, term loan CME Term SOFR 3 month Index + 4.75%, 8.5727% 8/25/2031 (e)(f)(g)
|
6,063,835
|
6,068,868
|
|
Mativ Holdings Inc Tranche B 1LN, term loan CME Term SOFR 1 month Index + 4.5%, 8.2309% 4/4/2033 (e)(f)(g)
|
4,185,000
|
4,179,769
|
|
Tronox Finance LLC Tranche B 1LN, term loan CME Term SOFR 1 month Index + 2.5%, 6.2316% 9/30/2031 (e)(f)(g)
|
5,050,435
|
3,865,401
|
|
67,005,182
|
|||
Containers & Packaging - 0.3%
|
|||
Clydesdale Acquisition Holdings Inc 1LN, term loan CME Term SOFR 1 month Index + 3.175%, 6.9059% 4/13/2029 (e)(f)(g)
|
7,290,000
|
7,111,395
|
|
TOTAL MATERIALS
|
74,116,577
|
||
Utilities - 0.1%
|
|||
Independent Power and Renewable Electricity Producers - 0.1%
|
|||
Natgasoline LLC Tranche B 1LN, term loan CME Term SOFR 1 month Index + 5.5%, 9.2309% 3/29/2030 (e)(f)(g)
|
2,584,646
|
2,604,030
|
|
TOTAL UNITED STATES
|
300,263,643
|
||
|
TOTAL BANK LOAN OBLIGATIONS
(Cost $343,934,832)
|
326,431,289
|
||
Common Stocks - 0.7%
|
|||
Shares
|
Value ($)
|
||
COLOMBIA - 0.0%
|
|||
Energy - 0.0%
|
|||
Oil, Gas & Consumable Fuels - 0.0%
|
|||
Canacol Energy Ltd (b)(c)
|
115,100
|
125,622
|
|
UNITED STATES - 0.7%
|
|||
Consumer Discretionary - 0.0%
|
|||
Hotels, Restaurants & Leisure - 0.0%
|
|||
Jersey Mike's Subs Inc Class A
|
11,001
|
253,023
|
|
Consumer Staples - 0.0%
|
|||
Consumer Staples Distribution & Retail - 0.0%
|
|||
Southeastern Grocers LLC rights (b)(c)
|
1,184,833
|
11
|
|
Energy - 0.4%
|
|||
Oil, Gas & Consumable Fuels - 0.4%
|
|||
Cheniere Energy Inc
|
12,400
|
3,268,268
|
|
Mesquite Energy Inc (b)(c)
|
493,851
|
7,531,223
|
|
TOTAL ENERGY
|
10,799,491
|
||
Health Care - 0.2%
|
|||
Health Care Equipment & Supplies - 0.1%
|
|||
Anteris Technologies Global Corp (b)
|
198,600
|
1,557,024
|
|
Health Care Providers & Services - 0.1%
|
|||
Cano Health LLC (b)(c)
|
153,538
|
2
|
|
Cano Health LLC warrants 6/28/2029 (b)(c)
|
8,312
|
0
|
|
ModivCare Inc (c)
|
64,995
|
320,945
|
|
Surgery Partners Inc (b)(d)
|
212,100
|
3,266,340
|
|
3,587,287
|
|||
TOTAL HEALTH CARE
|
5,144,311
|
||
Information Technology - 0.1%
|
|||
IT Services - 0.1%
|
|||
GTT Communications Inc (b)(c)
|
89,354
|
2,921,876
|
|
Semiconductors & Semiconductor Equipment - 0.0%
|
|||
ON Semiconductor Corp (b)
|
9,600
|
783,456
|
|
TOTAL INFORMATION TECHNOLOGY
|
3,705,332
|
||
TOTAL UNITED STATES
|
19,902,168
|
||
|
TOTAL COMMON STOCKS
(Cost $15,498,599)
|
20,027,790
|
||
Convertible Corporate Bonds - 2.5%
|
|||
Principal
Amount (a)
|
Value ($)
|
||
CAMEROON - 0.2%
|
|||
Energy - 0.2%
|
|||
Oil, Gas & Consumable Fuels - 0.2%
|
|||
Golar LNG Ltd 2.75% 12/15/2030
|
4,998,000
|
5,624,791
|
|
GHANA - 0.3%
|
|||
Energy - 0.3%
|
|||
Oil, Gas & Consumable Fuels - 0.3%
|
|||
Kosmos Energy Ltd 3.125% 3/15/2030
|
12,105,000
|
9,538,740
|
|
UNITED STATES - 2.0%
|
|||
Financials - 0.4%
|
|||
Financial Services - 0.4%
|
|||
Redfin Corp 0.5% 4/1/2027
|
11,683,000
|
11,215,680
|
|
Industrials - 0.2%
|
|||
Electrical Equipment - 0.2%
|
|||
Eos Energy Enterprises Inc 1.75% 12/1/2031 (l)
|
11,530,000
|
6,893,787
|
|
Information Technology - 1.1%
|
|||
Semiconductors & Semiconductor Equipment - 0.2%
|
|||
MKS Inc 1.25% 6/1/2030
|
1,321,000
|
2,704,748
|
|
ON Semiconductor Corp 0% 5/1/2027 (m)
|
1,659,000
|
2,634,823
|
|
5,339,571
|
|||
Software - 0.9%
|
|||
Riot Platforms Inc 0.75% 1/15/2030
|
6,561,000
|
10,376,878
|
|
Strategy Inc 0% 12/1/2029 (m)
|
8,275,000
|
7,282,000
|
|
Terawulf Inc 0% 5/1/2032 (l)(m)
|
5,215,000
|
6,216,414
|
|
23,875,292
|
|||
TOTAL INFORMATION TECHNOLOGY
|
29,214,863
|
||
Utilities - 0.3%
|
|||
Electric Utilities - 0.3%
|
|||
PG&E Corp 4.25% 12/1/2027
|
8,429,000
|
8,643,940
|
|
TOTAL UNITED STATES
|
55,968,270
|
||
|
TOTAL CONVERTIBLE CORPORATE BONDS
(Cost $65,903,103)
|
71,131,801
|
||
Convertible Preferred Stocks - 0.6%
|
|||
Shares
|
Value ($)
|
||
UNITED STATES - 0.6%
|
|||
Communication Services - 0.2%
|
|||
Interactive Media & Services - 0.2%
|
|||
Alphabet Inc Series A 6.25%
|
46,798
|
2,378,742
|
|
Alphabet Inc Series B 6.25%
|
46,746
|
2,348,987
|
|
TOTAL COMMUNICATION SERVICES
|
4,727,729
|
||
Consumer Discretionary - 0.1%
|
|||
Household Durables - 0.1%
|
|||
Whirlpool Corp Series A, 8.5%
|
84,595
|
2,779,791
|
|
Financials - 0.2%
|
|||
Financial Services - 0.2%
|
|||
Acrisure Holdings Inc Series A-2 (b)(c)
|
165,801
|
5,335,476
|
|
Information Technology - 0.1%
|
|||
Software - 0.1%
|
|||
Oracle Corp Series D 6.5%
|
74,161
|
3,081,390
|
|
TOTAL UNITED STATES
|
15,924,386
|
||
|
TOTAL CONVERTIBLE PREFERRED STOCKS
(Cost $16,075,919)
|
15,924,386
|
||
Non-Convertible Corporate Bonds - 73.1%
|
|||
Principal
Amount (a)
|
Value ($)
|
||
AUSTRALIA - 0.3%
|
|||
Materials - 0.3%
|
|||
Metals & Mining - 0.3%
|
|||
Mineral Resources Ltd 6% 5/1/2032 (l)
|
1,210,000
|
1,183,556
|
|
Mineral Resources Ltd 6.25% 5/1/2034 (l)
|
1,295,000
|
1,259,423
|
|
Mineral Resources Ltd 7% 4/1/2031 (l)
|
1,550,000
|
1,595,055
|
|
Mineral Resources Ltd 8.5% 5/1/2030 (l)
|
4,190,000
|
4,320,489
|
|
Mineral Resources Ltd 9.25% 10/1/2028 (l)
|
1,157,000
|
1,190,023
|
|
TOTAL AUSTRALIA
|
9,548,546
|
||
BAILIWICK OF JERSEY - 0.1%
|
|||
Consumer Discretionary - 0.1%
|
|||
Automobiles - 0.1%
|
|||
Aston Martin Capital Holdings Ltd 10% 3/31/2029 (l)
|
5,249,000
|
2,952,563
|
|
BRAZIL - 0.6%
|
|||
Industrials - 0.2%
|
|||
Commercial Services & Supplies - 0.1%
|
|||
Ambipar Lux Sarl 9.875% (h)(l)
|
12,186,000
|
4,265,100
|
|
Passenger Airlines - 0.1%
|
|||
Azul Secured Finance LLP 9.875% 2/15/2031 (l)
|
3,345,000
|
3,086,030
|
|
TOTAL INDUSTRIALS
|
7,351,130
|
||
Materials - 0.4%
|
|||
Metals & Mining - 0.4%
|
|||
ERO Copper Corp 6.5% 2/15/2030 (l)
|
4,005,000
|
4,004,399
|
|
Samarco Mineracao SA 9% 6/30/2031 pay-in-kind (f)(l)
|
6,252,489
|
6,280,626
|
|
TOTAL MATERIALS
|
10,285,025
|
||
TOTAL BRAZIL
|
17,636,155
|
||
CAMEROON - 0.3%
|
|||
Energy - 0.3%
|
|||
Oil, Gas & Consumable Fuels - 0.3%
|
|||
Golar LNG Ltd 7.5% 10/2/2030 (l)
|
5,765,000
|
5,856,029
|
|
Golar LNG Ltd 7.75% 9/19/2029 (l)(q)
|
3,600,000
|
3,643,308
|
|
TOTAL CAMEROON
|
9,499,337
|
||
CANADA - 2.0%
|
|||
Communication Services - 0.2%
|
|||
Diversified Telecommunication Services - 0.1%
|
|||
TELUS Corp 6.625% 10/15/2055 (f)
|
2,107,000
|
2,100,144
|
|
TELUS Corp 7% 10/15/2055 (f)
|
1,354,000
|
1,364,836
|
|
3,464,980
|
|||
Wireless Telecommunication Services - 0.1%
|
|||
Rogers Communications Inc 7% 4/15/2055 (f)
|
2,034,000
|
2,046,206
|
|
Rogers Communications Inc 7.125% 4/15/2055 (f)
|
819,000
|
826,577
|
|
2,872,783
|
|||
TOTAL COMMUNICATION SERVICES
|
6,337,763
|
||
Consumer Discretionary - 0.2%
|
|||
Hotels, Restaurants & Leisure - 0.2%
|
|||
1011778 BC ULC / New Red Finance Inc 5.625% 9/15/2029 (l)
|
3,635,000
|
3,625,861
|
|
1011778 BC ULC / New Red Finance Inc 6.125% 6/15/2029 (l)
|
2,390,000
|
2,414,917
|
|
TOTAL CONSUMER DISCRETIONARY
|
6,040,778
|
||
Energy - 0.1%
|
|||
Oil, Gas & Consumable Fuels - 0.1%
|
|||
Saturn Oil & Gas Inc 8.5% 7/30/2031 (l)
|
1,515,000
|
1,519,200
|
|
South Bow Canadian Infrastructure Holdings Ltd 7.5% 3/1/2055 (f)
|
2,295,000
|
2,421,799
|
|
South Bow Canadian Infrastructure Holdings Ltd 7.625% 3/1/2055 (f)
|
336,000
|
349,448
|
|
TOTAL ENERGY
|
4,290,447
|
||
Health Care - 0.0%
|
|||
Pharmaceuticals - 0.0%
|
|||
Bausch Health Cos Inc 11% 9/30/2028 (l)
|
520,000
|
531,288
|
|
Industrials - 0.2%
|
|||
Aerospace & Defense - 0.2%
|
|||
Bombardier Inc 6.75% 6/15/2033 (l)
|
4,390,000
|
4,521,560
|
|
Bombardier Inc 7% 6/1/2032 (l)
|
735,000
|
757,285
|
|
Bombardier Inc 7.25% 7/1/2031 (l)
|
485,000
|
505,162
|
|
TOTAL INDUSTRIALS
|
5,784,007
|
||
Materials - 1.0%
|
|||
Chemicals - 0.6%
|
|||
Methanex Corp 5.125% 10/15/2027
|
5,780,000
|
5,788,337
|
|
Methanex Corp 5.25% 12/15/2029
|
1,860,000
|
1,843,674
|
|
Methanex Corp 5.65% 12/1/2044
|
8,180,000
|
7,150,189
|
|
14,782,200
|
|||
Containers & Packaging - 0.3%
|
|||
Toucan FinCo Ltd/Toucan FinCo Can Inc/Toucan FinCo US LLC 9.5% 5/15/2030 (l)
|
8,545,000
|
7,718,305
|
|
Metals & Mining - 0.1%
|
|||
Capstone Copper Corp 6.75% 3/31/2033 (l)
|
2,735,000
|
2,741,140
|
|
TOTAL MATERIALS
|
25,241,645
|
||
Utilities - 0.3%
|
|||
Independent Power and Renewable Electricity Producers - 0.3%
|
|||
TransAlta Corp 5.875% 2/1/2034
|
4,270,000
|
4,162,577
|
|
TransAlta Corp 6.5% 3/15/2040
|
2,845,000
|
2,738,312
|
|
TOTAL UTILITIES
|
6,900,889
|
||
TOTAL CANADA
|
55,126,817
|
||
COLOMBIA - 0.6%
|
|||
Energy - 0.4%
|
|||
Oil, Gas & Consumable Fuels - 0.4%
|
|||
Canacol Energy Ltd 5.75% (h)(l)
|
19,213,000
|
6,480,738
|
|
Gran Tierra Energy Inc 9.75% 4/15/2031 (d)(l)
|
5,139,000
|
4,613,280
|
|
TOTAL ENERGY
|
11,094,018
|
||
Utilities - 0.2%
|
|||
Independent Power and Renewable Electricity Producers - 0.2%
|
|||
EnfraGen Energia Sur SA / EnfraGen Spain SA / Prime Energia SpA 5.375% 12/30/2030 (l)
|
5,105,538
|
4,789,557
|
|
EnfraGen Energia Sur SAU/ EnfraGen Chile SpA/ EnfraGen Spain SAU 8.499% 6/30/2032 (l)
|
1,425,000
|
1,478,095
|
|
TOTAL UTILITIES
|
6,267,652
|
||
TOTAL COLOMBIA
|
17,361,670
|
||
FINLAND - 0.1%
|
|||
Materials - 0.1%
|
|||
Paper & Forest Products - 0.1%
|
|||
Ahlstrom Holding 3 Oy 4.875% 2/4/2028 (l)
|
2,855,000
|
2,847,127
|
|
FRANCE - 1.5%
|
|||
Communication Services - 0.9%
|
|||
Diversified Telecommunication Services - 0.9%
|
|||
Altice France SA 6.5% 10/15/2031 (l)
|
3,684,802
|
3,555,766
|
|
Altice France SA 6.5% 4/15/2032 (l)
|
12,402,547
|
12,004,885
|
|
Altice France SA 6.875% 10/15/2030 (l)
|
2,115,901
|
2,065,893
|
|
Altice France SA 6.875% 7/15/2032 (l)
|
6,415,329
|
6,227,993
|
|
TOTAL COMMUNICATION SERVICES
|
23,854,537
|
||
Consumer Discretionary - 0.1%
|
|||
Automobile Components - 0.1%
|
|||
Forvia SE 6.75% 9/15/2033 (l)
|
2,605,000
|
2,592,118
|
|
Energy - 0.3%
|
|||
Energy Equipment & Services - 0.3%
|
|||
Vallourec SACA 7.5% 4/15/2032 (l)
|
4,189,000
|
4,373,990
|
|
Viridien 10% 10/15/2030 (l)
|
2,207,000
|
2,303,678
|
|
TOTAL ENERGY
|
6,677,668
|
||
Financials - 0.2%
|
|||
Financial Services - 0.2%
|
|||
Iliad Holding SAS 7% 4/15/2032 (l)
|
2,460,000
|
2,481,264
|
|
Iliad Holding SAS 8.5% 4/15/2031 (l)
|
3,060,000
|
3,218,817
|
|
TOTAL FINANCIALS
|
5,700,081
|
||
TOTAL FRANCE
|
38,824,404
|
||
GERMANY - 0.4%
|
|||
Consumer Discretionary - 0.3%
|
|||
Automobile Components - 0.3%
|
|||
ZF North America Capital Inc 6.75% 4/23/2030 (d)(l)
|
2,975,000
|
2,952,301
|
|
ZF North America Capital Inc 6.875% 4/23/2032 (d)(l)
|
1,670,000
|
1,640,724
|
|
ZF North America Capital Inc 7.125% 4/14/2030 (l)
|
850,000
|
855,497
|
|
ZF North America Capital Inc 7.5% 3/24/2031 (d)(l)
|
1,715,000
|
1,726,960
|
|
TOTAL CONSUMER DISCRETIONARY
|
7,175,482
|
||
Industrials - 0.1%
|
|||
Machinery - 0.1%
|
|||
TK Elevator US Newco Inc 5.25% 7/15/2027 (d)(l)
|
3,885,000
|
3,884,511
|
|
TOTAL GERMANY
|
11,059,993
|
||
GHANA - 0.8%
|
|||
Energy - 0.8%
|
|||
Oil, Gas & Consumable Fuels - 0.8%
|
|||
Kosmos Energy Ltd 7.5% 3/1/2028 (l)
|
5,536,000
|
5,446,926
|
|
Kosmos Energy Ltd 7.75% 5/1/2027 (l)
|
3,978,000
|
3,980,069
|
|
Kosmos Energy Ltd 8.75% 10/1/2031 (l)
|
4,379,000
|
3,826,676
|
|
Tullow Holdco 2 Ltd 15% 11/15/2028 pay-in-kind (f)(l)
|
10,291,497
|
10,577,497
|
|
TOTAL GHANA
|
23,831,168
|
||
GRAND CAYMAN (UK OVERSEAS TER) - 0.3%
|
|||
Financials - 0.3%
|
|||
Financial Services - 0.3%
|
|||
Global Aircraft Leasing Co Ltd 8.75% 9/1/2027 (l)
|
9,828,000
|
9,984,501
|
|
GREECE - 0.1%
|
|||
Industrials - 0.1%
|
|||
Marine Transportation - 0.1%
|
|||
Danaos Corp 6.875% 10/15/2032 (l)
|
2,650,000
|
2,707,346
|
|
GUATEMALA - 0.1%
|
|||
Communication Services - 0.1%
|
|||
Wireless Telecommunication Services - 0.1%
|
|||
Millicom International Cellular SA 4.5% 4/27/2031 (l)
|
1,570,000
|
1,446,483
|
|
Millicom International Cellular SA 5.125% 1/15/2028 (l)
|
1,521,000
|
1,505,791
|
|
Millicom International Cellular SA 7.375% 4/2/2032 (l)
|
1,065,000
|
1,089,628
|
|
TOTAL GUATEMALA
|
4,041,902
|
||
IRELAND - 0.7%
|
|||
Financials - 0.7%
|
|||
Consumer Finance - 0.1%
|
|||
AerCap Ireland Capital DAC / AerCap Global Aviation Trust 6.5% 1/31/2056 (f)
|
2,668,000
|
2,681,176
|
|
Financial Services - 0.6%
|
|||
GGAM Finance Ltd 5.875% 3/15/2030 (l)
|
8,410,000
|
8,357,438
|
|
GGAM Finance Ltd 6.875% 4/15/2029 (l)
|
1,720,000
|
1,747,955
|
|
GGAM Finance Ltd 8% 6/15/2028 (l)
|
4,545,000
|
4,701,325
|
|
14,806,718
|
|||
TOTAL FINANCIALS
|
17,487,894
|
||
Industrials - 0.0%
|
|||
Transportation Infrastructure - 0.0%
|
|||
Avolon Holdings Funding Ltd 4.85% 4/1/2033 (l)
|
1,359,000
|
1,296,844
|
|
TOTAL IRELAND
|
18,784,738
|
||
ISRAEL - 0.3%
|
|||
Health Care - 0.3%
|
|||
Pharmaceuticals - 0.3%
|
|||
Teva Pharmaceutical Finance Netherlands III BV 3.15% 10/1/2026
|
1,452,000
|
1,446,778
|
|
Teva Pharmaceutical Finance Netherlands III BV 6% 12/1/2032
|
3,295,000
|
3,355,612
|
|
Teva Pharmaceutical Finance Netherlands IV BV 5.75% 12/1/2030
|
2,510,000
|
2,541,267
|
|
TOTAL ISRAEL
|
7,343,657
|
||
LUXEMBOURG - 1.1%
|
|||
Communication Services - 0.6%
|
|||
Media - 0.4%
|
|||
Altice Financing SA 5.75% 8/15/2029 (l)
|
11,004,000
|
6,942,873
|
|
Altice Financing SA 9.625% 7/15/2027 (l)
|
4,812,000
|
3,199,980
|
|
10,142,853
|
|||
Wireless Telecommunication Services - 0.2%
|
|||
Altice France Lux 3 / Altice Holdings 1 10% 1/15/2033 (l)
|
7,837,400
|
7,692,614
|
|
TOTAL COMMUNICATION SERVICES
|
17,835,467
|
||
Energy - 0.1%
|
|||
Oil, Gas & Consumable Fuels - 0.1%
|
|||
Breakwater Energy Holdings Sarl 9.25% 11/15/2030 (l)
|
2,585,000
|
2,729,602
|
|
Materials - 0.4%
|
|||
Chemicals - 0.4%
|
|||
Herens Holdco Sarl 4.75% 5/15/2028 (l)
|
13,205,000
|
11,791,617
|
|
TOTAL LUXEMBOURG
|
32,356,686
|
||
NIGERIA - 0.1%
|
|||
Communication Services - 0.1%
|
|||
Diversified Telecommunication Services - 0.1%
|
|||
IHS Holding Ltd 5.625% 11/29/2026 (l)
|
4,313,000
|
4,293,246
|
|
NORWAY - 0.0%
|
|||
Energy - 0.0%
|
|||
Energy Equipment & Services - 0.0%
|
|||
TGS ASA 8.5% 1/15/2030 (l)
|
1,275,000
|
1,333,698
|
|
PANAMA - 0.4%
|
|||
Communication Services - 0.4%
|
|||
Diversified Telecommunication Services - 0.1%
|
|||
Sable International Finance Ltd 7.125% 10/15/2032 (l)
|
2,930,000
|
2,888,582
|
|
Wireless Telecommunication Services - 0.3%
|
|||
C&W Senior Finance Ltd 9% 1/15/2033 (l)
|
8,438,000
|
8,547,285
|
|
TOTAL PANAMA
|
11,435,867
|
||
PERU - 0.1%
|
|||
Materials - 0.1%
|
|||
Metals & Mining - 0.1%
|
|||
Volcan Cia Minera SAA 8.5% 10/28/2032 (l)
|
3,435,000
|
3,544,542
|
|
SOUTH AFRICA - 0.2%
|
|||
Communication Services - 0.2%
|
|||
Diversified Telecommunication Services - 0.2%
|
|||
Liquid Telecommunications Financing Plc 10.75% 4/14/2031 (l)
|
4,485,000
|
4,675,204
|
|
SWITZERLAND - 0.7%
|
|||
Industrials - 0.3%
|
|||
Aerospace & Defense - 0.3%
|
|||
VistaJet Malta Finance PLC / Vista Management Holding Inc 6.375% 2/1/2030 (d)(l)
|
4,502,000
|
4,248,061
|
|
VistaJet Malta Finance PLC / Vista Management Holding Inc 8.75% 1/15/2032 (d)(l)
|
3,649,000
|
3,586,130
|
|
VistaJet Malta Finance PLC / Vista Management Holding Inc 9.5% 6/1/2028 (d)(l)
|
1,490,000
|
1,513,101
|
|
TOTAL INDUSTRIALS
|
9,347,292
|
||
Materials - 0.4%
|
|||
Chemicals - 0.4%
|
|||
Consolidated Energy Finance SA 12% 2/15/2031 (l)
|
5,085,000
|
5,312,274
|
|
Consolidated Energy Finance SA 5.625% 10/15/2028 (l)
|
6,217,000
|
6,004,503
|
|
TOTAL MATERIALS
|
11,316,777
|
||
TOTAL SWITZERLAND
|
20,664,069
|
||
UNITED KINGDOM - 0.9%
|
|||
Communication Services - 0.3%
|
|||
Diversified Telecommunication Services - 0.0%
|
|||
Virgin Media Finance PLC 5% 7/15/2030 (l)
|
1,010,000
|
621,483
|
|
Media - 0.1%
|
|||
Virgin Media Secured Finance PLC 4.5% 8/15/2030 (l)
|
5,245,000
|
4,310,692
|
|
Wireless Telecommunication Services - 0.2%
|
|||
Vmed O2 UK Financing I PLC 4.25% 1/31/2031 (l)
|
4,035,000
|
3,210,362
|
|
Vmed O2 UK Financing I PLC 6.75% 1/15/2033 (l)
|
1,670,000
|
1,336,959
|
|
4,547,321
|
|||
TOTAL COMMUNICATION SERVICES
|
9,479,496
|
||
Consumer Discretionary - 0.2%
|
|||
Automobile Components - 0.1%
|
|||
Macquarie Airfinance Holdings Ltd 6.4% 3/26/2029 (l)
|
2,090,000
|
2,145,340
|
|
Macquarie Airfinance Holdings Ltd 6.5% 3/26/2031 (l)
|
1,840,000
|
1,909,956
|
|
4,055,296
|
|||
Hotels, Restaurants & Leisure - 0.1%
|
|||
A&K Travel Group Holdings Ltd 7.5% 5/15/2033 (l)
|
2,835,000
|
2,822,405
|
|
TOTAL CONSUMER DISCRETIONARY
|
6,877,701
|
||
Utilities - 0.4%
|
|||
Independent Power and Renewable Electricity Producers - 0.4%
|
|||
California Buyer Ltd / Atlantica Sustainable Infrastructure PLC 6.375% 2/15/2032 (l)
|
8,338,000
|
8,221,468
|
|
ContourGlobal Power Holdings SA 6.75% 2/28/2030 (l)
|
2,225,000
|
2,260,823
|
|
TOTAL UTILITIES
|
10,482,291
|
||
TOTAL UNITED KINGDOM
|
26,839,488
|
||
UNITED STATES - 61.1%
|
|||
Communication Services - 7.8%
|
|||
Diversified Telecommunication Services - 4.5%
|
|||
APLD ComputeCo 2 LLC 6.75% 3/15/2031 (d)(l)
|
4,533,000
|
4,431,046
|
|
APLD ComputeCo 3 LLC 7% 6/15/2031 (d)(l)
|
7,095,000
|
6,919,576
|
|
APLD ComputeCo LLC 9.25% 12/15/2030 (d)(l)
|
11,689,000
|
12,422,555
|
|
Black Pearl Compute LLC 6.125% 2/15/2031 (l)
|
2,729,000
|
2,724,426
|
|
Cipher Compute LLC 7.125% 11/15/2030 (d)(l)
|
2,677,000
|
2,730,569
|
|
Core Scientific Finance I LLC 7.75% 5/15/2031 (l)
|
10,105,000
|
9,895,071
|
|
Edged Compute LLC 7.5% 4/30/2031 (l)
|
10,457,000
|
9,912,150
|
|
Flash Compute LLC 7.25% 12/31/2030 (l)
|
5,645,000
|
5,700,447
|
|
Galaxy Helios Data Centers II LLC 9.875% 8/1/2031 (l)
|
8,570,000
|
8,593,312
|
|
Level 3 Financing Inc 6.875% 6/30/2033 (l)
|
5,255,000
|
5,317,794
|
|
Level 3 Financing Inc 7% 3/31/2034 (l)
|
3,530,000
|
3,590,780
|
|
Level 3 Financing Inc 7.5% 2/15/2037 (d)(l)
|
3,945,000
|
3,918,158
|
|
Level 3 Financing Inc 8.5% 1/15/2036 (l)
|
6,070,000
|
6,315,119
|
|
Lumen Technologies Inc 4.5% 1/15/2029 (l)
|
450,000
|
427,500
|
|
Meridian Arc Holdco LLC 6.25% 4/30/2031 (l)
|
9,833,000
|
9,447,869
|
|
PR RNO Property Owner 1 LLC 6.5% 5/1/2031 (l)
|
14,925,000
|
14,053,666
|
|
RD Michigan Property Owner I LLC 7.5% 3/30/2045 (l)
|
5,989,000
|
5,804,405
|
|
Stingray Compute LLC 6% 6/15/2031 (d)(l)
|
2,845,000
|
2,775,514
|
|
SV RNO Property Owner 1 LLC 5.875% 3/1/2031 (d)(l)
|
4,232,000
|
3,929,817
|
|
WULF Compute LLC 7.75% 10/15/2030 (d)(l)
|
4,999,000
|
5,193,796
|
|
Yondr JK 1 LLC 6.875% 6/30/2031 (d)(l)
|
3,019,000
|
2,875,336
|
|
126,978,906
|
|||
Entertainment - 0.4%
|
|||
AP Core Holdings II LLC 11% 5/15/2031 (l)
|
3,935,000
|
4,108,187
|
|
OAK-Eagle Acquireco Inc 7.25% 7/1/2033 (l)
|
4,077,000
|
4,224,477
|
|
OAK-Eagle Acquireco Inc 8.75% 7/1/2034 (l)
|
4,023,000
|
4,238,179
|
|
12,570,843
|
|||
Interactive Media & Services - 0.3%
|
|||
Snap Inc 6.875% 3/1/2033 (d)(l)
|
1,760,000
|
1,719,211
|
|
Snap Inc 6.875% 3/15/2034 (d)(l)
|
2,515,000
|
2,436,250
|
|
Sopaipilla Investor LLC 7.534% 11/30/2048 (l)
|
4,386,000
|
4,546,018
|
|
8,701,479
|
|||
Media - 2.6%
|
|||
CCO Holdings LLC / CCO Holdings Capital Corp 4.25% 1/15/2034 (d)(l)
|
3,915,000
|
3,196,550
|
|
CCO Holdings LLC / CCO Holdings Capital Corp 4.25% 2/1/2031 (l)
|
3,840,000
|
3,398,897
|
|
CCO Holdings LLC / CCO Holdings Capital Corp 4.5% 5/1/2032 (d)
|
5,499,000
|
4,742,264
|
|
CCO Holdings LLC / CCO Holdings Capital Corp 4.5% 6/1/2033 (d)(l)
|
3,460,000
|
2,943,730
|
|
CCO Holdings LLC / CCO Holdings Capital Corp 4.75% 2/1/2032 (d)(l)
|
2,400,000
|
2,097,103
|
|
CCO Holdings LLC / CCO Holdings Capital Corp 7% 2/1/2033 (d)(l)
|
1,530,000
|
1,466,245
|
|
CCO Holdings LLC / CCO Holdings Capital Corp 7.375% 2/1/2036 (d)(l)
|
6,204,000
|
5,898,078
|
|
Clear Channel Outdoor Holdings Inc 7.125% 2/15/2031 (l)
|
4,630,000
|
4,775,868
|
|
Clear Channel Outdoor Holdings Inc 7.5% 3/15/2033 (l)
|
4,160,000
|
4,360,491
|
|
Clear Channel Outdoor Holdings Inc 7.5% 6/1/2029 (l)
|
3,600,000
|
3,605,735
|
|
Clear Channel Outdoor Holdings Inc 7.875% 4/1/2030 (l)
|
2,895,000
|
3,006,524
|
|
CMG Media Corp 8.875% 6/18/2029 (l)
|
905,000
|
654,773
|
|
CSC Holdings LLC 3.375% 2/15/2031 (l)
|
6,960,000
|
3,849,962
|
|
CSC Holdings LLC 4.125% 12/1/2030 (l)
|
9,546,000
|
5,339,090
|
|
CSC Holdings LLC 4.5% 11/15/2031 (l)
|
6,149,000
|
3,405,969
|
|
CSC Holdings LLC 4.625% 12/1/2030 (l)
|
4,526,000
|
961,775
|
|
EW Scripps Co/The 9.875% 8/15/2030 (l)
|
3,208,000
|
2,823,725
|
|
Lamar Media Corp 5.375% 11/1/2033 (d)(l)
|
3,145,000
|
3,056,198
|
|
Nexstar Media Inc 6.5% 9/15/2033 (l)
|
2,805,000
|
2,790,624
|
|
Univision Communications Inc 8.5% 7/31/2031 (d)(l)
|
4,514,000
|
4,504,008
|
|
Univision Communications Inc 8.875% 4/15/2033 (l)
|
2,705,000
|
2,619,047
|
|
Univision Communications Inc 9.375% 8/1/2032 (l)
|
4,900,000
|
4,894,288
|
|
74,390,944
|
|||
TOTAL COMMUNICATION SERVICES
|
222,642,172
|
||
Consumer Discretionary - 8.7%
|
|||
Automobile Components - 0.9%
|
|||
American Axle & Manufacturing Inc 6.375% 10/15/2032 (l)
|
2,025,000
|
2,014,191
|
|
American Axle & Manufacturing Inc 7.75% 10/15/2033 (d)(l)
|
3,810,000
|
3,751,791
|
|
Clarios Global LP / Clarios US Finance Co 6.75% 9/15/2032 (l)
|
5,165,000
|
5,203,796
|
|
Clarios Global LP / Clarios US Finance Co 6.75% 2/15/2030 (l)
|
945,000
|
968,998
|
|
Cooper-Standard Automotive Inc 9.25% 3/1/2031 (d)(l)
|
3,831,000
|
3,899,431
|
|
Cyprium Corp / Cyprium Holdings Luxembourg Sarl 6.125% 4/15/2031 (l)
|
4,335,000
|
4,296,548
|
|
Cyprium Corp / Cyprium Holdings Luxembourg Sarl 6.375% 4/15/2034 (l)
|
4,410,000
|
4,344,695
|
|
24,479,450
|
|||
Automobiles - 0.2%
|
|||
Rivian Holdings LLC/Rivian LLC/Rivian Automotive LLC 10% 1/15/2031 (l)
|
7,367,000
|
7,396,815
|
|
Broadline Retail - 0.9%
|
|||
GrubHub Holdings Inc 13% 7/31/2030 pay-in-kind (l)
|
2,732,572
|
2,301,857
|
|
Saks Global Enterprises LLC 11% (c)(h)(l)
|
1,519,064
|
3,797
|
|
Wayfair LLC 6.75% 11/15/2032 (d)(l)
|
5,180,000
|
5,273,292
|
|
Wayfair LLC 7.125% 5/31/2034 (d)(l)
|
3,165,000
|
3,251,376
|
|
Wayfair LLC 7.25% 10/31/2029 (l)
|
7,078,000
|
7,288,819
|
|
Wayfair LLC 7.75% 9/15/2030 (l)
|
8,228,000
|
8,622,097
|
|
26,741,238
|
|||
Diversified Consumer Services - 0.9%
|
|||
Sotheby's 8.25% 4/15/2031 (l)
|
7,555,000
|
7,536,253
|
|
Sotheby's/Bidfair Holdings Inc 5.875% 6/1/2029 (l)
|
2,692,000
|
2,596,771
|
|
StoneMor Inc 8.5% 5/15/2029 (l)
|
9,608,000
|
9,541,771
|
|
TKC Holdings Inc 12% 2/15/2031 (l)
|
1,350,000
|
1,418,919
|
|
TKC Holdings Inc 8.5% 8/15/2030 (d)(l)
|
4,126,000
|
4,217,799
|
|
25,311,513
|
|||
Hotels, Restaurants & Leisure - 2.5%
|
|||
BCPE Flavor Debt Merger Sub LLC and BCPE Flavor Issuer Inc 9.5% 7/1/2032 (d)(l)
|
4,925,000
|
4,764,814
|
|
Carnival Corp Ltd 5.75% 8/1/2032 (l)
|
2,400,000
|
2,377,881
|
|
Carnival Corp Ltd 5.875% 6/15/2031 (l)
|
2,945,000
|
2,947,347
|
|
Carnival Corp Ltd 6.125% 2/15/2033 (l)
|
8,645,000
|
8,645,425
|
|
Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc 6.75% 1/15/2030 (l)
|
8,727,000
|
8,570,037
|
|
Hilton Domestic Operating Co Inc 3.625% 2/15/2032 (l)
|
3,555,000
|
3,216,743
|
|
Hilton Domestic Operating Co Inc 5.5% 3/31/2034 (l)
|
2,425,000
|
2,375,523
|
|
Hilton Domestic Operating Co Inc 5.5% 9/15/2031 (l)
|
4,785,000
|
4,740,968
|
|
Hilton Domestic Operating Co Inc 5.75% 9/15/2033 (l)
|
2,330,000
|
2,308,790
|
|
Hilton Domestic Operating Co Inc 5.875% 3/15/2033 (l)
|
1,195,000
|
1,194,658
|
|
Hilton Domestic Operating Co Inc 6.125% 4/1/2032 (d)(l)
|
3,160,000
|
3,187,577
|
|
Hilton Grand Vacations Borrower LLC / Hilton Grand Vacations Borrower Inc 6.625% 1/15/2032 (l)
|
2,642,000
|
2,648,063
|
|
Light & Wonder International Inc 6.25% 10/1/2033 (d)(l)
|
2,921,000
|
2,869,883
|
|
MajorDrive Holdings IV LLC 6.375% 6/1/2029 (l)
|
6,637,000
|
5,427,292
|
|
NCL Corp Ltd 6.25% 9/15/2033 (l)
|
3,765,000
|
3,578,821
|
|
NCL Corp Ltd 6.75% 2/1/2032 (l)
|
1,620,000
|
1,587,864
|
|
Viking Cruises Ltd 5.875% 10/15/2033 (l)
|
10,440,000
|
10,337,534
|
|
70,779,220
|
|||
Household Durables - 1.4%
|
|||
Ashton Woods USA LLC / Ashton Woods Finance Co 4.625% 8/1/2029 (l)
|
1,845,000
|
1,771,608
|
|
Ashton Woods USA LLC / Ashton Woods Finance Co 6.875% 8/1/2033 (l)
|
1,445,000
|
1,441,633
|
|
Beazer Homes USA Inc 7.5% 3/15/2031 (l)
|
1,255,000
|
1,262,322
|
|
Beazer Homes USA Inc 8% 1/15/2032 (l)
|
680,000
|
693,426
|
|
Century Communities Inc 6.625% 9/15/2033 (d)(l)
|
3,530,000
|
3,541,590
|
|
Dream Finders Homes Inc 6.875% 9/15/2030 (d)(l)
|
2,955,000
|
2,884,224
|
|
LGI Homes Inc 7% 11/15/2032 (d)(l)
|
10,606,000
|
10,338,005
|
|
Risewell Homes Inc 8.5% 11/1/2030 (l)
|
2,870,000
|
2,927,437
|
|
Whirlpool Corp 5.75% 3/1/2034 (d)
|
569,000
|
431,103
|
|
Whirlpool Corp 6.5% 6/15/2033 (d)
|
11,657,000
|
9,877,527
|
|
Whirlpool Corp 7.5% 7/1/2031 (l)
|
1,435,000
|
1,426,040
|
|
Whirlpool Corp 7.875% 7/1/2034 (l)
|
2,850,000
|
2,694,388
|
|
39,289,303
|
|||
Specialty Retail - 1.9%
|
|||
Advance Auto Parts Inc 1.75% 10/1/2027
|
1,030,000
|
988,950
|
|
Advance Auto Parts Inc 3.5% 3/15/2032 (d)
|
1,580,000
|
1,383,044
|
|
Advance Auto Parts Inc 3.9% 4/15/2030 (d)
|
1,485,000
|
1,388,955
|
|
Advance Auto Parts Inc 7% 8/1/2030 (d)(l)
|
2,705,000
|
2,771,638
|
|
Advance Auto Parts Inc 7.375% 8/1/2033 (d)(l)
|
8,760,000
|
9,041,459
|
|
Carvana Co 4.875% 9/1/2029 (l)
|
1,342,000
|
1,234,640
|
|
Carvana Co 5.5% 4/15/2027 (l)
|
1,182,000
|
1,170,180
|
|
Carvana Co 5.875% 10/1/2028 (l)
|
764,000
|
741,080
|
|
Carvana Co 9% 6/1/2030 pay-in-kind (f)(l)
|
1,710,450
|
1,763,007
|
|
Carvana Co 9% 6/1/2031 pay-in-kind (f)(l)
|
4,012,275
|
4,413,179
|
|
Champions Financing Inc 8.75% 2/15/2029 (d)(l)
|
6,334,000
|
6,267,527
|
|
LBM Acquisition LLC 6.25% 1/15/2029 (l)
|
4,868,000
|
3,119,263
|
|
Michaels Cos Inc/The 11% 3/15/2034 (l)
|
5,242,000
|
5,131,371
|
|
Michaels Cos Inc/The 8.5% 3/15/2033 (l)
|
5,534,000
|
5,482,126
|
|
Staples Inc 10.75% 9/1/2029 (l)
|
5,440,000
|
5,205,274
|
|
Staples Inc 12.75% 1/15/2030 (l)
|
4,149,712
|
3,276,174
|
|
53,377,867
|
|||
TOTAL CONSUMER DISCRETIONARY
|
247,375,406
|
||
Consumer Staples - 1.2%
|
|||
Consumer Staples Distribution & Retail - 0.7%
|
|||
Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC 5.75% 3/31/2034 (d)(l)
|
3,020,000
|
2,807,821
|
|
Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC 6.25% 3/15/2033 (l)
|
60,000
|
58,113
|
|
C&S Group Enterprises LLC 5% 12/15/2028 (l)
|
3,158,000
|
2,904,738
|
|
KeHE Distributors LLC / KeHE Finance Corp / NextWave Distribution Inc 7.125% 4/30/2033 (l)
|
995,000
|
1,011,666
|
|
KeHE Distributors LLC / KeHE Finance Corp / NextWave Distribution Inc 9% 2/15/2029 (l)
|
4,845,000
|
5,046,121
|
|
Performance Food Group Inc 5.625% 3/1/2034 (l)
|
3,275,000
|
3,176,741
|
|
Performance Food Group Inc 6.125% 9/15/2032 (d)(l)
|
1,480,000
|
1,484,181
|
|
US Foods Inc 4.75% 2/15/2029 (l)
|
1,975,000
|
1,946,048
|
|
US Foods Inc 5.75% 4/15/2033 (l)
|
1,585,000
|
1,568,230
|
|
US Foods Inc 6.875% 9/15/2028 (l)
|
930,000
|
948,659
|
|
US Foods Inc 7.25% 1/15/2032 (d)(l)
|
360,000
|
371,967
|
|
21,324,285
|
|||
Food Products - 0.5%
|
|||
Lamb Weston Holdings Inc 4.125% 1/31/2030 (l)
|
5,280,000
|
5,027,031
|
|
Lamb Weston Holdings Inc 4.375% 1/31/2032 (l)
|
850,000
|
796,684
|
|
Post Holdings Inc 6.25% 10/15/2034 (l)
|
670,000
|
651,419
|
|
Post Holdings Inc 6.375% 3/1/2033 (d)(l)
|
1,440,000
|
1,418,122
|
|
Post Holdings Inc 6.5% 3/15/2036 (l)
|
2,665,000
|
2,599,427
|
|
Viking Baked Goods Acquisition Corp 8.625% 11/1/2031 (l)
|
2,820,000
|
2,830,428
|
|
13,323,111
|
|||
TOTAL CONSUMER STAPLES
|
34,647,396
|
||
Energy - 8.1%
|
|||
Energy Equipment & Services - 0.9%
|
|||
Archrock Services LP / Archrock Partners Finance Corp 6% 2/1/2034 (l)
|
5,660,000
|
5,539,216
|
|
Kodiak Gas Services LLC 6.5% 10/1/2033 (l)
|
2,040,000
|
2,037,361
|
|
Kodiak Gas Services LLC 6.75% 10/1/2035 (l)
|
2,045,000
|
2,060,532
|
|
Oceaneering International Inc 6.875% 7/15/2034 (d)(l)
|
2,845,000
|
2,911,041
|
|
Star Holding LLC 8.75% 8/1/2031 (l)
|
1,282,000
|
1,309,230
|
|
Transocean Aquila Ltd 8% 9/30/2028 (l)
|
209,231
|
213,663
|
|
Transocean International Ltd 7.875% 10/15/2032 (l)
|
860,000
|
895,743
|
|
Transocean International Ltd 8.25% 5/15/2029 (l)
|
2,435,000
|
2,510,877
|
|
Transocean International Ltd 8.5% 5/15/2031 (l)
|
2,690,000
|
2,805,348
|
|
USA Compression Partners LP / USA Compression Finance Corp 6.25% 10/1/2033 (l)
|
2,935,000
|
2,888,308
|
|
WBI Operating LLC 6.5% 10/15/2033 (d)(l)
|
1,290,000
|
1,287,704
|
|
24,459,023
|
|||
Oil, Gas & Consumable Fuels - 7.2%
|
|||
Antero Midstream Partners LP / Antero Midstream Finance Corp 5.75% 10/15/2033 (l)
|
1,175,000
|
1,154,089
|
|
Antero Midstream Partners LP / Antero Midstream Finance Corp 5.75% 7/1/2034 (l)
|
5,580,000
|
5,469,300
|
|
Ascent Resources Utica Holdings LLC / ARU Finance Corp 6.625% 7/15/2033 (l)
|
2,625,000
|
2,636,524
|
|
California Resources Corp 7% 1/15/2034 (l)
|
4,390,000
|
4,299,708
|
|
California Resources Corp 7.25% 1/15/2035 (l)
|
1,425,000
|
1,408,011
|
|
Calumet Specialty Products Partners LP / Calumet Finance Corp 9.75% 2/15/2031 (l)
|
2,570,000
|
2,749,545
|
|
Calumet Specialty Products Partners LP / Calumet Finance Corp 9.75% 7/15/2028 (l)
|
5,641,000
|
5,802,220
|
|
Cheniere Energy Inc 5.2% 7/30/2036 (l)
|
6,803,000
|
6,580,646
|
|
Cheniere Energy Inc 6% 7/30/2056 (l)
|
2,441,000
|
2,338,028
|
|
CITGO Petroleum Corp 8.375% 1/15/2029 (l)
|
1,475,000
|
1,515,179
|
|
CNX Midstream Partners LP 4.75% 4/15/2030 (l)
|
3,935,000
|
3,771,987
|
|
CNX Resources Corp 5.875% 3/1/2034 (l)
|
3,065,000
|
2,969,507
|
|
CNX Resources Corp 7.25% 3/1/2032 (d)(l)
|
2,910,000
|
2,992,621
|
|
CNX Resources Corp 7.375% 1/15/2031 (l)
|
1,045,000
|
1,067,854
|
|
Comstock Resources Inc 5.875% 1/15/2030 (d)(l)
|
4,555,000
|
4,291,319
|
|
Comstock Resources Inc 6.75% 3/1/2029 (l)
|
2,645,000
|
2,604,898
|
|
CQP Holdco LP / BIP-V Chinook Holdco LLC 7.5% 12/15/2033 (l)
|
3,567,000
|
3,738,352
|
|
CVR Energy Inc 7.5% 2/15/2031 (l)
|
2,800,000
|
2,836,599
|
|
CVR Energy Inc 7.875% 2/15/2034 (l)
|
1,400,000
|
1,422,631
|
|
Delek Logistics Partners LP / Delek Logistics Finance Corp 7.375% 6/30/2033 (l)
|
2,520,000
|
2,577,081
|
|
Delek Logistics Partners LP / Delek Logistics Finance Corp 8.625% 3/15/2029 (l)
|
1,974,000
|
2,048,686
|
|
Energy Transfer LP 6.5% 2/15/2056 (f)
|
2,440,000
|
2,440,271
|
|
Energy Transfer LP 6.55% 1/15/2057 (f)
|
2,859,000
|
2,822,715
|
|
Energy Transfer LP 6.7% 1/15/2057 (f)
|
2,859,000
|
2,816,732
|
|
Energy Transfer LP 6.75% 2/15/2056 (f)
|
2,440,000
|
2,447,564
|
|
Genesis Energy LP / Genesis Energy Finance Corp 6.75% 3/15/2034 (d)
|
1,445,000
|
1,441,214
|
|
Genesis Energy LP / Genesis Energy Finance Corp 8% 5/15/2033 (d)
|
3,648,000
|
3,795,078
|
|
Global Partners LP / GLP Finance Corp 6.875% 1/15/2029
|
2,323,000
|
2,334,903
|
|
Global Partners LP / GLP Finance Corp 7.125% 7/1/2033 (d)(l)
|
1,030,000
|
1,043,055
|
|
Global Partners LP / GLP Finance Corp 8.25% 1/15/2032 (d)(l)
|
515,000
|
536,877
|
|
Harvest Midstream I LP 6.75% 5/15/2034 (l)
|
3,370,000
|
3,383,416
|
|
Harvest Midstream I LP 7.5% 5/15/2032 (l)
|
1,495,000
|
1,532,803
|
|
Hess Midstream Operations LP 4.25% 2/15/2030 (l)
|
690,000
|
660,682
|
|
Hess Midstream Operations LP 5.125% 6/15/2028 (l)
|
2,290,000
|
2,280,663
|
|
Hess Midstream Operations LP 5.5% 10/15/2030 (l)
|
935,000
|
931,677
|
|
Hess Midstream Operations LP 5.875% 3/1/2028 (l)
|
3,125,000
|
3,140,869
|
|
Hess Midstream Operations LP 6.5% 6/1/2029 (l)
|
685,000
|
696,622
|
|
Howard Midstream Energy Partners LLC 6.625% 1/15/2034 (l)
|
2,560,000
|
2,588,557
|
|
Howard Midstream Energy Partners LLC 6.625% 1/15/2035 (l)
|
3,840,000
|
3,837,894
|
|
Howard Midstream Energy Partners LLC 7.375% 7/15/2032 (l)
|
1,450,000
|
1,498,814
|
|
Kinetik Holdings LP 5.875% 6/15/2030 (d)(l)
|
2,570,000
|
2,572,847
|
|
Kinetik Holdings LP 6.625% 12/15/2028 (l)
|
3,920,000
|
3,984,892
|
|
Moss Creek Resources Holdings Inc 8.25% 9/1/2031 (l)
|
4,302,000
|
4,311,976
|
|
Par Petroleum LLC 7.375% 6/1/2034 (l)
|
3,170,000
|
3,280,180
|
|
PBF Holding Co LLC / PBF Finance Corp 7.25% 6/1/2034 (l)
|
4,235,000
|
4,300,863
|
|
PBF Holding Co LLC / PBF Finance Corp 7.875% 9/15/2030 (l)
|
6,122,000
|
6,353,534
|
|
PBF Holding Co LLC / PBF Finance Corp 9.875% 3/15/2030 (d)(l)
|
3,415,000
|
3,658,759
|
|
Prairie Acquiror LP 9% 8/1/2029 (l)
|
610,000
|
629,227
|
|
Rockies Express Pipeline LLC 4.8% 5/15/2030 (d)(l)
|
2,765,000
|
2,692,467
|
|
Rockies Express Pipeline LLC 4.95% 7/15/2029 (l)
|
3,745,000
|
3,693,959
|
|
Rockies Express Pipeline LLC 6.75% 3/15/2033 (d)(l)
|
3,040,000
|
3,090,747
|
|
Rockies Express Pipeline LLC 6.875% 4/15/2040 (l)
|
365,000
|
367,075
|
|
Sunoco LP 4.5% 10/1/2029 (l)
|
1,505,000
|
1,457,682
|
|
Sunoco LP 4.625% 5/1/2030 (l)
|
3,825,000
|
3,682,981
|
|
Sunoco LP 5.375% 7/15/2031 (l)
|
2,910,000
|
2,854,431
|
|
Sunoco LP 5.625% 7/15/2034 (d)(l)
|
2,860,000
|
2,765,198
|
|
Sunoco LP 5.875% 3/15/2034 (l)
|
3,795,000
|
3,714,361
|
|
Sunoco LP 6.25% 7/1/2033 (l)
|
3,180,000
|
3,187,254
|
|
Sunoco LP 6.625% 8/15/2032 (d)(l)
|
710,000
|
716,751
|
|
Sunoco LP 7% 5/1/2029 (l)
|
1,145,000
|
1,169,934
|
|
Sunoco LP 7.25% 5/1/2032 (l)
|
1,375,000
|
1,417,625
|
|
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp 5.5% 1/15/2028 (l)
|
3,275,000
|
3,271,130
|
|
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp 6% 12/31/2030 (l)
|
5,490,000
|
5,450,782
|
|
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp 6% 9/1/2031 (l)
|
5,941,000
|
5,845,838
|
|
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp 6.75% 3/15/2034 (l)
|
3,599,000
|
3,621,357
|
|
Venture Global Plaquemines LNG LLC 6.125% 12/15/2030 (l)
|
2,840,000
|
2,884,993
|
|
Venture Global Plaquemines LNG LLC 6.5% 1/15/2034 (l)
|
4,640,000
|
4,787,835
|
|
Venture Global Plaquemines LNG LLC 6.5% 6/15/2034 (d)(l)
|
2,075,000
|
2,140,012
|
|
Venture Global Plaquemines LNG LLC 6.75% 1/15/2036 (l)
|
7,420,000
|
7,766,485
|
|
Venture Global Plaquemines LNG LLC 7.5% 5/1/2033 (l)
|
1,795,000
|
1,947,609
|
|
Venture Global Plaquemines LNG LLC 7.75% 5/1/2035 (l)
|
1,840,000
|
2,039,184
|
|
204,163,159
|
|||
TOTAL ENERGY
|
228,622,182
|
||
Financials - 6.1%
|
|||
Banks - 0.0%
|
|||
Western Alliance Bancorp CME Term SOFR 3 month Index + 2.25%, 5.9175% 6/15/2031 (f)(g)
|
4,000,000
|
3,861,200
|
|
Capital Markets - 0.9%
|
|||
Hightower Holding LLC 6.75% 4/15/2029 (l)
|
1,040,000
|
1,036,124
|
|
Hightower Holding LLC 9.125% 1/31/2030 (l)
|
3,055,000
|
3,165,823
|
|
Jane Street Group / JSG Finance Inc 6.125% 11/1/2032 (l)
|
3,355,000
|
3,338,223
|
|
Jane Street Group / JSG Finance Inc 6.75% 5/1/2033 (l)
|
5,800,000
|
5,910,890
|
|
Jane Street Group / JSG Finance Inc 7.125% 4/30/2031 (l)
|
2,565,000
|
2,647,139
|
|
Jefferies Finance LLC / JFIN Co-Issuer Corp 5% 8/15/2028 (l)
|
5,490,000
|
5,307,704
|
|
Jefferies Finance LLC / JFIN Co-Issuer Corp 6.625% 10/15/2031 (d)(l)
|
2,635,000
|
2,588,001
|
|
Resideo Funding II LLC 6.5% 7/15/2032 (l)
|
1,100,000
|
1,100,370
|
|
25,094,274
|
|||
Consumer Finance - 1.6%
|
|||
Ally Financial Inc 6.646% 1/17/2040 (f)
|
6,007,000
|
5,867,684
|
|
Ally Financial Inc 6.7% 2/14/2033 (d)
|
3,350,000
|
3,414,732
|
|
LFS Topco LLC 8.75% 7/15/2030 (d)(l)
|
4,363,000
|
4,353,642
|
|
Navient Corp 4.875% 3/15/2028 (d)
|
1,720,000
|
1,681,179
|
|
Navient Corp 5% 3/15/2027 (d)
|
3,930,000
|
3,912,464
|
|
Navient Corp 5.5% 3/15/2029 (d)
|
1,363,000
|
1,305,461
|
|
Navient Corp 5.625% 8/1/2033 (d)
|
1,175,000
|
969,390
|
|
Navient Corp 7.875% 6/15/2032 (d)
|
2,765,000
|
2,590,462
|
|
Navient Corp 9.375% 10/15/2031
|
1,410,000
|
1,408,526
|
|
OneMain Finance Corp 6.125% 5/15/2030
|
1,395,000
|
1,386,621
|
|
OneMain Finance Corp 6.5% 3/15/2033
|
3,775,000
|
3,685,346
|
|
OneMain Finance Corp 6.75% 3/15/2032 (d)
|
1,830,000
|
1,821,132
|
|
OneMain Finance Corp 6.75% 9/15/2033 (d)
|
615,000
|
605,087
|
|
OneMain Finance Corp 7.125% 11/15/2031 (d)
|
1,149,000
|
1,164,385
|
|
OneMain Finance Corp 7.125% 9/15/2032 (d)
|
3,300,000
|
3,334,551
|
|
OneMain Finance Corp 7.5% 5/15/2031
|
920,000
|
943,000
|
|
SLM Corp 6.495% 5/15/2032 (f)
|
4,215,000
|
4,198,231
|
|
SLM Corp 6.5% 1/31/2030
|
1,967,000
|
1,989,563
|
|
44,631,456
|
|||
Financial Services - 2.0%
|
|||
Block Inc 3.5% 6/1/2031
|
4,415,000
|
4,025,298
|
|
Block Inc 5.625% 8/15/2030 (l)
|
2,400,000
|
2,387,722
|
|
Block Inc 6% 8/15/2033 (l)
|
3,795,000
|
3,763,459
|
|
Block Inc 6.5% 5/15/2032
|
5,917,000
|
5,977,969
|
|
Burford Capital Global Finance LLC 7.5% 7/15/2033 (d)(l)
|
3,370,000
|
2,841,517
|
|
HA Sustainable Infrastructure Capital Inc 5.95% 7/15/2033 (d)(l)
|
1,423,000
|
1,406,462
|
|
HA Sustainable Infrastructure Capital Inc 6% 3/15/2036
|
4,209,000
|
4,067,139
|
|
HA Sustainable Infrastructure Capital Inc 7.125% 11/15/2056 (d)(f)
|
2,714,000
|
2,734,757
|
|
HA Sustainable Infrastructure Capital Inc 8% 6/1/2056 (f)
|
3,867,000
|
4,059,372
|
|
Icahn Enterprises LP / Icahn Enterprises Finance Corp 10% 11/15/2029 (l)
|
2,010,000
|
2,013,306
|
|
Icahn Enterprises LP / Icahn Enterprises Finance Corp 4.375% 2/1/2029
|
3,720,000
|
3,238,334
|
|
Icahn Enterprises LP / Icahn Enterprises Finance Corp 5.25% 5/15/2027
|
14,361,000
|
14,269,205
|
|
Icahn Enterprises LP / Icahn Enterprises Finance Corp 9% 6/15/2030
|
485,000
|
461,385
|
|
Walker & Dunlop Inc 6.625% 4/1/2033 (d)(l)
|
1,430,000
|
1,431,976
|
|
Windstream Services LLC / Windstream Escrow Finance Corp 8.25% 10/1/2031 (l)
|
3,745,000
|
3,898,654
|
|
56,576,555
|
|||
Insurance - 0.7%
|
|||
APH Somerset Investor 2 LLC / APH2 Somerset Investor 2 LLC / APH3 Somerset Inves 7.875% 11/1/2029 (d)(l)
|
4,627,000
|
4,686,596
|
|
Asurion LLC/ Asurion Co-Issuer Inc 8% 12/31/2032 (l)
|
8,985,000
|
9,089,460
|
|
Asurion LLC/ Asurion Co-Issuer Inc 8.375% 2/1/2034 (l)
|
6,434,000
|
5,862,066
|
|
19,638,122
|
|||
Mortgage Real Estate Investment Trusts (REITs) - 0.9%
|
|||
EF Holdco / EF Cayman Hold / Ellington Fin REIT Cayman/TRS / EF Cayman Non-MTM 7.375% 9/30/2030 (l)
|
2,670,000
|
2,651,407
|
|
Rithm Capital Corp 8% 4/1/2029 (l)
|
1,680,000
|
1,693,075
|
|
Rithm Capital Corp 8% 7/15/2030 (l)
|
2,880,000
|
2,880,165
|
|
Rithm Capital Corp 8.5% 6/1/2031 (l)
|
1,400,000
|
1,403,419
|
|
Starwood Property Trust Inc 5.25% 10/15/2028 (l)
|
385,000
|
381,569
|
|
Starwood Property Trust Inc 5.75% 1/15/2031 (l)
|
3,695,000
|
3,638,949
|
|
Starwood Property Trust Inc 5.875% 8/15/2029 (l)
|
3,060,000
|
3,065,125
|
|
Starwood Property Trust Inc 6% 4/15/2030 (l)
|
1,495,000
|
1,498,842
|
|
Starwood Property Trust Inc 6.125% 6/1/2031 (d)(l)
|
960,000
|
957,727
|
|
Starwood Property Trust Inc 6.5% 10/15/2030 (d)(l)
|
1,345,000
|
1,363,530
|
|
Starwood Property Trust Inc 6.5% 7/1/2030 (d)(l)
|
3,600,000
|
3,656,283
|
|
Starwood Property Trust Inc 7.25% 4/1/2029 (l)
|
1,340,000
|
1,380,739
|
|
24,570,830
|
|||
TOTAL FINANCIALS
|
174,372,437
|
||
Health Care - 5.5%
|
|||
Biotechnology - 0.3%
|
|||
Emergent BioSolutions Inc 3.875% 8/15/2028 (l)
|
10,134,000
|
9,298,471
|
|
Health Care Equipment & Supplies - 0.0%
|
|||
DENTSPLY SIRONA Inc 8.375% 9/12/2055 (f)
|
639,000
|
637,498
|
|
Health Care Providers & Services - 4.6%
|
|||
Acadia Healthcare Co Inc 7.375% 3/15/2033 (d)(l)
|
2,771,000
|
2,857,585
|
|
Accendra Health Inc 9% 6/15/2032 (d)(l)
|
1,853,000
|
1,768,437
|
|
Accendra Health Inc 9.75% 6/15/2033 (l)
|
9,477,195
|
6,326,028
|
|
Centene Corp 3.375% 2/15/2030
|
3,100,000
|
2,867,156
|
|
Centene Corp 4.625% 12/15/2029
|
6,000,000
|
5,820,823
|
|
Charlotte Buyer Inc 8% 6/30/2031 (l)
|
995,000
|
1,005,904
|
|
CHS/Community Health Systems Inc 5.25% 5/15/2030 (l)
|
12,355,000
|
11,408,754
|
|
CHS/Community Health Systems Inc 6.125% 4/1/2030 (d)(l)
|
5,609,000
|
4,712,494
|
|
CHS/Community Health Systems Inc 9.75% 1/15/2034 (d)(l)
|
2,705,000
|
2,740,333
|
|
CVS Health Corp 6.75% 12/10/2054 (d)(f)
|
2,758,000
|
2,841,656
|
|
CVS Health Corp 7% 3/10/2055 (f)
|
7,044,000
|
7,252,812
|
|
DaVita Inc 4.625% 6/1/2030 (l)
|
6,085,000
|
5,865,535
|
|
DaVita Inc 6.75% 7/15/2033 (d)(l)
|
4,485,000
|
4,597,959
|
|
DaVita Inc 6.875% 9/1/2032 (l)
|
3,025,000
|
3,108,677
|
|
Humana Inc 6.625% 9/15/2056 (f)
|
10,325,000
|
10,159,503
|
|
LifePoint Health Inc 10% 6/1/2032 (l)
|
2,570,000
|
2,467,375
|
|
Molina Healthcare Inc 6.25% 1/15/2033 (l)
|
9,185,000
|
9,082,747
|
|
Molina Healthcare Inc 6.5% 2/15/2031 (l)
|
4,088,000
|
4,125,589
|
|
National Mentor Holdings Inc 10.5% 12/15/2030 (l)
|
3,505,000
|
3,696,559
|
|
Pediatrix Medical Group Inc 5.375% 2/15/2030 (l)
|
1,833,000
|
1,792,667
|
|
Surgery Center Holdings Inc 7.25% 4/15/2032 (l)
|
2,200,000
|
2,206,852
|
|
TEAM Services Holding Inc 9% 2/15/2033 (d)(l)
|
5,835,000
|
5,909,087
|
|
Tenet Healthcare Corp 4.375% 1/15/2030
|
3,005,000
|
2,898,382
|
|
Tenet Healthcare Corp 5.5% 11/15/2032 (d)(l)
|
5,365,000
|
5,282,316
|
|
Tenet Healthcare Corp 6% 11/15/2033 (d)(l)
|
2,165,000
|
2,171,926
|
|
Tenet Healthcare Corp 6.125% 10/1/2028
|
2,604,000
|
2,605,659
|
|
Tenet Healthcare Corp 6.125% 6/15/2030
|
3,825,000
|
3,844,741
|
|
Tenet Healthcare Corp 6.75% 5/15/2031
|
525,000
|
535,409
|
|
US Acute Care Solutions LLC 9.75% 5/15/2029 (l)
|
8,813,000
|
8,214,061
|
|
128,167,026
|
|||
Health Care Technology - 0.2%
|
|||
IQVIA Inc 6.25% 6/1/2032 (d)(l)
|
5,360,000
|
5,428,935
|
|
IQVIA Inc 6.5% 5/15/2030 (l)
|
1,615,000
|
1,645,546
|
|
7,074,481
|
|||
Pharmaceuticals - 0.4%
|
|||
1261229 BC Ltd 10% 4/15/2032 (l)
|
12,130,000
|
12,399,868
|
|
TOTAL HEALTH CARE
|
157,577,344
|
||
Industrials - 7.8%
|
|||
Aerospace & Defense - 1.2%
|
|||
Axon Enterprise Inc 6.125% 3/15/2030 (d)(l)
|
2,705,000
|
2,736,410
|
|
Axon Enterprise Inc 6.25% 3/15/2033 (l)
|
2,850,000
|
2,890,375
|
|
BWX Technologies Inc 4.125% 6/30/2028 (l)
|
3,930,000
|
3,832,877
|
|
Carpenter Technology Corp 5.625% 3/1/2034 (l)
|
3,700,000
|
3,647,726
|
|
TransDigm Inc 6% 1/15/2033 (l)
|
1,255,000
|
1,254,867
|
|
TransDigm Inc 6.125% 7/31/2034 (d)(l)
|
4,295,000
|
4,246,760
|
|
TransDigm Inc 6.25% 1/31/2034 (l)
|
995,000
|
1,004,779
|
|
TransDigm Inc 6.375% 3/1/2029 (d)(l)
|
2,800,000
|
2,833,687
|
|
TransDigm Inc 6.375% 5/31/2033 (l)
|
7,555,000
|
7,553,086
|
|
TransDigm Inc 6.75% 1/31/2034 (l)
|
4,215,000
|
4,283,591
|
|
TransDigm Inc 7.125% 12/1/2031 (l)
|
935,000
|
964,396
|
|
35,248,554
|
|||
Air Freight & Logistics - 0.1%
|
|||
Rand Parent LLC 8.5% 2/15/2030 (l)
|
2,779,000
|
2,848,864
|
|
Building Products - 1.3%
|
|||
Ameritex Holdco Intermediate LLC 7.625% 8/15/2033 (l)
|
2,725,000
|
2,805,578
|
|
Builders FirstSource Inc 4.25% 2/1/2032 (l)
|
3,865,000
|
3,517,103
|
|
Builders FirstSource Inc 6.375% 3/1/2034 (l)
|
1,280,000
|
1,255,991
|
|
Builders FirstSource Inc 6.75% 5/15/2035 (d)(l)
|
5,105,000
|
5,054,251
|
|
Camelot Return Merger Sub Inc 8.75% 8/1/2028 (l)
|
1,680,000
|
863,720
|
|
Cornerstone Building Brands Inc 9.5% 8/15/2029 (l)
|
1,814,000
|
931,707
|
|
EMRLD Borrower LP / Emerald Co-Issuer Inc 6.625% 12/15/2030 (l)
|
5,640,000
|
5,732,479
|
|
EMRLD Borrower LP / Emerald Co-Issuer Inc 6.75% 7/15/2031 (l)
|
1,610,000
|
1,651,271
|
|
JH North America Holdings Inc 6.125% 7/31/2032 (l)
|
1,275,000
|
1,275,995
|
|
Standard Building Solutions Inc 5.875% 3/15/2034 (d)(l)
|
2,775,000
|
2,664,435
|
|
Standard Building Solutions Inc 6.25% 8/1/2033 (d)(l)
|
9,850,000
|
9,742,364
|
|
Standard Building Solutions Inc 6.5% 8/15/2032 (l)
|
1,315,000
|
1,317,516
|
|
36,812,410
|
|||
Commercial Services & Supplies - 1.7%
|
|||
ADT Security Corp/The 5.875% 10/15/2033 (d)(l)
|
2,650,000
|
2,569,501
|
|
Artera Services LLC 8.5% 2/15/2031 (d)(l)
|
17,756,000
|
16,174,652
|
|
Brand Industrial Services Inc 10.375% 8/1/2030 (l)
|
6,820,000
|
5,906,273
|
|
CoreCivic Inc 4.75% 10/15/2027
|
3,440,000
|
3,440,000
|
|
CoreCivic Inc 8.25% 4/15/2029
|
1,380,000
|
1,432,693
|
|
GEO Group Inc/The 10.25% 4/15/2031
|
2,955,000
|
3,186,672
|
|
GEO Group Inc/The 8.625% 4/15/2029
|
2,820,000
|
2,939,830
|
|
Neptune Bidco US Inc 9.5% 2/15/2033 (l)
|
4,020,000
|
4,095,069
|
|
OT Midco Inc 10% 2/15/2030 (l)
|
4,637,000
|
1,738,875
|
|
Reworld Holding Corp 4.875% 12/1/2029 (l)
|
1,580,000
|
1,499,487
|
|
Williams Scotsman Inc 6.625% 4/15/2030 (d)(l)
|
1,395,000
|
1,426,376
|
|
Williams Scotsman Inc 6.625% 6/15/2029 (l)
|
1,355,000
|
1,377,893
|
|
45,787,321
|
|||
Construction & Engineering - 0.5%
|
|||
AECOM 6% 8/1/2033 (d)(l)
|
6,035,000
|
6,000,557
|
|
Amsted Industries Inc 6.375% 3/15/2033 (l)
|
1,280,000
|
1,290,952
|
|
Granite Construction Inc 6.375% 6/15/2034 (l)
|
1,885,000
|
1,879,608
|
|
Railworks Holdings LP / Railworks Rally Inc 8.25% 11/15/2028 (l)
|
5,655,000
|
5,661,237
|
|
14,832,354
|
|||
Electrical Equipment - 0.3%
|
|||
Sensata Technologies BV 4% 4/15/2029 (l)
|
467,000
|
449,398
|
|
WESCO Distribution Inc 5.25% 4/15/2031 (l)
|
2,865,000
|
2,817,280
|
|
WESCO Distribution Inc 5.5% 4/15/2034 (l)
|
4,330,000
|
4,206,420
|
|
WESCO Distribution Inc 6.375% 3/15/2033 (d)(l)
|
1,475,000
|
1,499,740
|
|
8,972,838
|
|||
Ground Transportation - 0.3%
|
|||
Avis Budget Car Rental LLC / Avis Budget Finance Inc 8% 2/15/2031 (d)(l)
|
555,000
|
554,156
|
|
Avis Budget Car Rental LLC / Avis Budget Finance Inc 8.375% 6/15/2032 (d)(l)
|
2,585,000
|
2,572,658
|
|
Genesee & Wyoming Inc 6.25% 4/15/2032 (l)
|
4,075,000
|
4,098,354
|
|
7,225,168
|
|||
Industrial Conglomerates - 0.2%
|
|||
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp 4.75% 6/15/2029 (l)
|
2,895,000
|
2,819,377
|
|
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp 7% 7/15/2031 (l)
|
1,765,000
|
1,824,346
|
|
4,643,723
|
|||
Machinery - 0.4%
|
|||
Allison Transmission Inc 5.875% 12/1/2033 (l)
|
2,695,000
|
2,655,428
|
|
Beach Acquisition Bidco LLC 10% 7/15/2033 pay-in-kind (f)(l)
|
4,996,865
|
5,364,180
|
|
Columbus McKinnon Corp/NY 7.125% 2/1/2033 (d)(l)
|
3,045,000
|
3,067,838
|
|
11,087,446
|
|||
Passenger Airlines - 0.5%
|
|||
Allegiant Travel Co 7.125% 7/1/2031 (d)(l)
|
4,280,000
|
4,336,830
|
|
JetBlue Airways Corp / JetBlue Loyalty LP 9.875% 9/20/2031 (l)
|
4,587,000
|
3,991,350
|
|
United Airlines Holdings Inc 4.875% 3/1/2029
|
4,270,000
|
4,204,621
|
|
United Airlines Holdings Inc 5.375% 3/1/2031 (d)
|
2,845,000
|
2,807,725
|
|
15,340,526
|
|||
Professional Services - 0.1%
|
|||
CACI International Inc 6.375% 6/15/2033 (l)
|
3,916,000
|
3,946,303
|
|
Trading Companies & Distributors - 1.0%
|
|||
FTAI Aviation Investors LLC 7% 6/15/2032 (l)
|
980,000
|
1,000,604
|
|
FTAI Aviation Investors LLC 7.875% 12/1/2030 (l)
|
1,555,000
|
1,620,193
|
|
Herc Holdings Inc 5.75% 3/15/2031 (d)(l)
|
1,795,000
|
1,777,189
|
|
Herc Holdings Inc 6% 3/15/2034 (d)(l)
|
1,980,000
|
1,941,252
|
|
Herc Holdings Inc 7% 6/15/2030 (d)(l)
|
4,275,000
|
4,408,675
|
|
Herc Holdings Inc 7.25% 6/15/2033 (d)(l)
|
3,075,000
|
3,172,973
|
|
QXO Building Products Inc 6.5% 7/15/2031 (l)
|
1,870,000
|
1,877,582
|
|
QXO Building Products Inc 6.75% 4/30/2032 (d)(l)
|
6,760,000
|
6,903,720
|
|
QXO Building Products Inc 6.875% 7/15/2034 (d)(l)
|
1,950,000
|
1,952,913
|
|
Synergy Infrastructure Holdings LLC 7% 7/15/2034 (l)
|
515,000
|
519,536
|
|
Synergy Infrastructure Holdings LLC 7.875% 12/1/2030 (l)
|
1,440,000
|
1,502,114
|
|
United Rentals North America Inc 6.125% 3/15/2034 (d)(l)
|
2,850,000
|
2,883,237
|
|
29,559,988
|
|||
Transportation Infrastructure - 0.2%
|
|||
Beacon Mobility Corp 7.25% 8/1/2030 (l)
|
1,400,000
|
1,444,507
|
|
Carrix Inc 6.125% 8/1/2033 (l)
|
5,215,000
|
5,190,914
|
|
6,635,421
|
|||
TOTAL INDUSTRIALS
|
222,940,916
|
||
Information Technology - 3.4%
|
|||
Electronic Equipment, Instruments & Components - 0.2%
|
|||
Coherent Corp 5% 12/15/2029 (l)
|
2,345,000
|
2,294,553
|
|
Sensata Technologies Inc 3.75% 2/15/2031 (l)
|
860,000
|
800,291
|
|
Sensata Technologies Inc 6.625% 7/15/2032 (d)(l)
|
1,785,000
|
1,827,390
|
|
4,922,234
|
|||
IT Services - 1.4%
|
|||
Cogent Communications Group LLC / Cogent Finance Inc 7% 6/15/2027 (d)(l)
|
9,722,000
|
9,597,231
|
|
Cogent Communications Group LLC / Cogent Finance Inc 7% 6/15/2027 (d)(l)
|
3,675,000
|
3,622,885
|
|
CoreWeave Inc 9% 2/1/2031 (l)
|
14,725,000
|
13,292,167
|
|
CoreWeave Inc 9.25% 6/1/2030 (d)(l)
|
4,436,000
|
4,145,692
|
|
CoreWeave Inc 9.625% 7/15/2032 (l)
|
2,005,000
|
1,794,538
|
|
CoreWeave Inc 9.75% 10/1/2031 (l)
|
7,255,000
|
6,582,919
|
|
Go Daddy Operating Co LLC / GD Finance Co Inc 3.5% 3/1/2029 (l)
|
1,440,000
|
1,347,326
|
|
40,382,758
|
|||
Semiconductors & Semiconductor Equipment - 0.7%
|
|||
Amkor Technology Inc 5.875% 10/1/2033 (d)(l)
|
1,440,000
|
1,400,704
|
|
Entegris Inc 3.625% 5/1/2029 (d)(l)
|
1,335,000
|
1,269,546
|
|
Entegris Inc 5.95% 6/15/2030 (d)(l)
|
13,030,000
|
13,034,326
|
|
ON Semiconductor Corp 3.875% 9/1/2028 (l)
|
335,000
|
323,172
|
|
Wolfspeed Inc 7% 6/15/2031 pay-in-kind (f)
|
5,161,846
|
4,426,283
|
|
20,454,031
|
|||
Software - 1.0%
|
|||
Cloud Software Group LLC 9% 9/30/2029 (l)
|
9,017,000
|
8,834,421
|
|
Oracle Corp 3.6% 4/1/2040
|
21,744,000
|
15,042,824
|
|
Oracle Corp 5.35% 5/4/2033 (d)
|
2,730,000
|
2,565,455
|
|
Oracle Corp 5.7% 2/4/2036 (d)
|
1,333,000
|
1,234,048
|
|
Oracle Corp 6.55% 2/4/2046
|
1,883,000
|
1,666,408
|
|
29,343,156
|
|||
Technology Hardware, Storage & Peripherals - 0.1%
|
|||
Seagate Data Storage Technology Pte Ltd 5.75% 12/1/2034
|
1,665,000
|
1,650,431
|
|
Seagate Data Storage Technology Pte Ltd 5.875% 7/15/2030
|
1,850,000
|
1,883,651
|
|
3,534,082
|
|||
TOTAL INFORMATION TECHNOLOGY
|
98,636,261
|
||
Materials - 5.7%
|
|||
Chemicals - 3.0%
|
|||
Advancion Sciences Inc 9.25% 11/1/2026 pay-in-kind (f)(l)
|
7,058,003
|
5,646,402
|
|
Celanese US Holdings LLC 6.75% 4/15/2033 (d)
|
5,986,000
|
6,101,943
|
|
Celanese US Holdings LLC 7.375% 2/15/2034 (d)
|
8,195,000
|
8,429,747
|
|
Celanese US Holdings LLC 7.7% 11/15/2033 (d)(f)
|
2,180,000
|
2,307,619
|
|
Chemours Co/The 4.625% 11/15/2029 (d)(l)
|
4,420,000
|
4,171,077
|
|
Chemours Co/The 5.75% 11/15/2028 (l)
|
3,402,000
|
3,385,116
|
|
Chemours Co/The 7.875% 3/15/2034 (d)(l)
|
3,550,000
|
3,454,496
|
|
Chemours Co/The 8% 1/15/2033 (d)(l)
|
3,225,000
|
3,174,392
|
|
CompoSecure Holdings LLC 5.625% 2/1/2033 (d)(l)
|
5,535,000
|
5,320,286
|
|
GPD Cos Inc 12.5% 12/31/2029 pay-in-kind (l)
|
3,333,907
|
2,138,387
|
|
Mativ Holdings Inc 8% 10/1/2029 (d)(l)
|
6,380,000
|
6,316,550
|
|
Methanex US Operations Inc 6.25% 3/15/2032 (d)(l)
|
1,745,000
|
1,762,241
|
|
Olin Corp 5% 2/1/2030 (d)
|
5,950,000
|
5,714,277
|
|
Olin Corp 6.625% 4/1/2033 (d)(l)
|
7,343,000
|
7,185,805
|
|
Olympus Water US Holding Corp 6.25% 10/1/2029 (l)
|
3,905,000
|
3,855,733
|
|
Olympus Water US Holding Corp 6.75% 8/1/2032 (d)(l)
|
1,475,000
|
1,435,548
|
|
Olympus Water US Holding Corp 7.25% 2/15/2033 (d)(l)
|
9,130,000
|
8,943,467
|
|
Perimeter Holdings LLC 6.25% 1/15/2034 (d)(l)
|
2,615,000
|
2,567,155
|
|
Tronox Inc 4.625% 3/15/2029 (d)(l)
|
7,113,000
|
4,370,288
|
|
86,280,529
|
|||
Construction Materials - 0.7%
|
|||
Global Infrastructure Solutions Inc 6.375% 7/15/2034 (l)
|
3,850,000
|
3,876,298
|
|
Quikrete Holdings Inc 6.375% 3/1/2032 (l)
|
8,437,000
|
8,539,965
|
|
Quikrete Holdings Inc 6.75% 3/1/2033 (d)(l)
|
2,935,000
|
2,973,805
|
|
Smyrna Ready Mix Concrete LLC 6% 11/1/2028 (l)
|
3,426,000
|
3,421,140
|
|
Smyrna Ready Mix Concrete LLC 8.875% 11/15/2031 (l)
|
575,000
|
602,079
|
|
19,413,287
|
|||
Containers & Packaging - 0.6%
|
|||
Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC 4% 9/1/2029 (l)
|
3,460,000
|
3,284,769
|
|
Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC 6.25% 1/30/2031 (l)
|
2,035,000
|
2,048,720
|
|
Clydesdale Acquisition Holdings Inc 6.75% 4/15/2032 (l)
|
3,525,000
|
3,356,865
|
|
Clydesdale Acquisition Holdings Inc 8.75% 4/15/2030 (d)(l)
|
3,042,000
|
2,907,252
|
|
Crown Americas LLC 5.875% 6/1/2033
|
3,125,000
|
3,118,638
|
|
Graphic Packaging International LLC 3.75% 2/1/2030 (d)(l)
|
1,005,000
|
936,804
|
|
Graphic Packaging International LLC 6.375% 7/15/2032 (d)(l)
|
1,625,000
|
1,622,384
|
|
17,275,432
|
|||
Metals & Mining - 1.4%
|
|||
Alcoa Nederland Holding BV 7.125% 3/15/2031 (l)
|
7,239,000
|
7,448,048
|
|
Alumina Pty Ltd 6.375% 9/15/2032 (l)
|
5,075,000
|
5,108,053
|
|
Cleveland-Cliffs Inc 7.375% 5/1/2033 (d)(l)
|
975,000
|
985,443
|
|
Cleveland-Cliffs Inc 7.625% 1/15/2034 (d)(l)
|
3,760,000
|
3,804,707
|
|
Commercial Metals Co 3.875% 2/15/2031
|
935,000
|
870,394
|
|
Commercial Metals Co 5.75% 11/15/2033 (l)
|
4,790,000
|
4,704,608
|
|
Commercial Metals Co 6% 12/15/2035 (d)(l)
|
4,790,000
|
4,707,137
|
|
Kaiser Aluminum Corp 5.875% 3/1/2034 (d)(l)
|
2,685,000
|
2,620,404
|
|
Novelis Corp 3.875% 8/15/2031 (d)(l)
|
855,000
|
776,077
|
|
Novelis Corp 6.375% 8/15/2033 (l)
|
5,050,000
|
5,040,772
|
|
Novelis Corp 6.875% 1/30/2030 (d)(l)
|
5,115,000
|
5,248,112
|
|
41,313,755
|
|||
TOTAL MATERIALS
|
164,283,003
|
||
Real Estate - 2.5%
|
|||
Diversified REITs - 0.8%
|
|||
Uniti Group LP / Uniti Fiber Holdings Inc / CSL Capital LLC 6% 1/15/2030 (l)
|
5,510,000
|
5,257,467
|
|
Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC 6.5% 2/15/2029 (l)
|
9,137,000
|
9,011,483
|
|
Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC 8.625% 6/15/2032 (l)
|
5,825,000
|
5,948,851
|
|
Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC 8.625% 6/15/2032 (l)
|
1,810,000
|
1,848,484
|
|
22,066,285
|
|||
Health Care REITs - 0.6%
|
|||
MPT Operating Partnership LP / MPT Finance Corp 0.993% 10/15/2026
|
EUR
|
1,250,000
|
1,426,005
|
MPT Operating Partnership LP / MPT Finance Corp 3.5% 3/15/2031
|
3,830,000
|
2,613,854
|
|
MPT Operating Partnership LP / MPT Finance Corp 4.625% 8/1/2029
|
2,495,000
|
1,999,420
|
|
MPT Operating Partnership LP / MPT Finance Corp 5% 10/15/2027 (d)
|
11,641,000
|
11,293,299
|
|
17,332,578
|
|||
Hotel & Resort REITs - 0.2%
|
|||
RHP Hotel Properties LP / RHP Finance Corp 5.75% 3/15/2034 (l)
|
2,520,000
|
2,467,784
|
|
RHP Hotel Properties LP / RHP Finance Corp 6.5% 6/15/2033 (l)
|
2,605,000
|
2,650,476
|
|
5,118,260
|
|||
Real Estate Management & Development - 0.8%
|
|||
Anywhere Real Estate Group LLC / Anywhere Co-Issuer Corp 7% 4/15/2030 (l)
|
1,469,400
|
1,480,535
|
|
Anywhere Real Estate Group LLC / Realogy Co-Issuer Corp 5.25% 4/15/2030 (d)(l)
|
429,000
|
411,261
|
|
Anywhere Real Estate Group LLC / Realogy Co-Issuer Corp 5.75% 1/15/2029 (l)
|
1,115,000
|
1,098,524
|
|
Anywhere Real Estate Group LLC / Realogy Co-Issuer Corp 9.75% 4/15/2030 (l)
|
2,805,000
|
3,005,378
|
|
Forestar Group Inc 6.5% 3/15/2033 (d)(l)
|
3,125,000
|
3,131,478
|
|
Howard Hughes Corp/The 4.125% 2/1/2029 (l)
|
1,625,000
|
1,566,346
|
|
Howard Hughes Corp/The 4.375% 2/1/2031 (d)(l)
|
840,000
|
784,997
|
|
Kennedy-Wilson Inc 7% 6/1/2031 (l)
|
5,595,000
|
5,697,410
|
|
Kennedy-Wilson Inc 7.25% 6/1/2033 (l)
|
5,595,000
|
5,664,043
|
|
22,839,972
|
|||
Specialized REITs - 0.1%
|
|||
Millrose Properties Inc 6.25% 9/15/2032 (d)(l)
|
2,590,000
|
2,587,810
|
|
Millrose Properties Inc 6.375% 8/1/2030 (l)
|
2,130,000
|
2,145,746
|
|
4,733,556
|
|||
TOTAL REAL ESTATE
|
72,090,651
|
||
Utilities - 4.3%
|
|||
Electric Utilities - 3.8%
|
|||
Clearway Energy Operating LLC 3.75% 1/15/2032 (l)
|
470,000
|
421,902
|
|
Clearway Energy Operating LLC 3.75% 2/15/2031 (l)
|
4,335,000
|
3,976,487
|
|
Clearway Energy Operating LLC 4.75% 3/15/2028 (l)
|
1,015,000
|
1,001,716
|
|
Clearway Energy Operating LLC 5.75% 1/15/2034 (l)
|
3,085,000
|
2,974,714
|
|
Edison International 4.8% 3/15/2031
|
2,722,000
|
2,632,112
|
|
Edison International 6.25% 3/15/2030
|
1,683,000
|
1,722,208
|
|
Edison International 7.875% 6/15/2054 (f)
|
2,610,000
|
2,693,416
|
|
Edison International 8.125% 6/15/2053 (f)
|
2,629,000
|
2,689,709
|
|
Hawaiian Electric Co Inc 6% 10/1/2033 (d)(l)
|
2,215,000
|
2,172,918
|
|
NRG Energy Inc 3.625% 2/15/2031 (l)
|
625,000
|
575,892
|
|
NRG Energy Inc 5.25% 6/15/2029 (l)
|
2,780,000
|
2,753,631
|
|
NRG Energy Inc 5.75% 1/15/2034 (l)
|
6,480,000
|
6,310,893
|
|
NRG Energy Inc 5.75% 7/15/2029 (l)
|
3,980,000
|
3,977,711
|
|
NRG Energy Inc 5.875% 5/15/2034 (l)
|
1,500,000
|
1,472,549
|
|
NRG Energy Inc 6% 1/15/2036 (l)
|
5,190,000
|
5,077,766
|
|
NRG Energy Inc 6% 2/1/2033 (d)(l)
|
2,455,000
|
2,447,620
|
|
NRG Energy Inc 6.125% 5/15/2036 (d)(l)
|
1,600,000
|
1,579,369
|
|
NRG Energy Inc 6.25% 11/1/2034 (l)
|
2,850,000
|
2,842,490
|
|
Pacific Gas and Electric Co 5.2% 5/1/2036
|
500,000
|
475,764
|
|
Pacific Gas and Electric Co 6% 5/1/2056
|
500,000
|
460,285
|
|
PacifiCorp 7.375% 9/15/2055 (f)
|
3,812,000
|
3,791,368
|
|
PG&E Corp 5% 7/1/2028
|
1,575,000
|
1,560,134
|
|
PG&E Corp 5.25% 7/1/2030
|
15,895,000
|
15,631,744
|
|
PG&E Corp 6.85% 9/15/2056 (f)
|
4,603,000
|
4,554,976
|
|
PG&E Corp 7.375% 3/15/2055 (f)
|
4,024,000
|
4,086,046
|
|
Sierra Pacific Power Co 6.375% 9/15/2056 (f)
|
5,762,000
|
5,729,847
|
|
Vistra Operations Co LLC 6.875% 4/15/2032 (l)
|
2,485,000
|
2,566,729
|
|
Vistra Operations Co LLC 7.75% 10/15/2031 (l)
|
5,605,000
|
5,843,302
|
|
XPLR Infrastructure Operating Partners LP 7.25% 1/15/2029 (d)(l)
|
893,000
|
920,940
|
|
XPLR Infrastructure Operating Partners LP 7.75% 4/15/2034 (d)(l)
|
6,700,000
|
7,016,448
|
|
XPLR Infrastructure Operating Partners LP 8.375% 1/15/2031 (d)(l)
|
3,460,000
|
3,677,381
|
|
XPLR Infrastructure Operating Partners LP 8.625% 3/15/2033 (d)(l)
|
4,810,000
|
5,138,932
|
|
108,776,999
|
|||
Independent Power and Renewable Electricity Producers - 0.5%
|
|||
AES Corp/The 6.95% 7/15/2055 (f)
|
2,818,000
|
2,767,423
|
|
Alpha Generation LLC 6.25% 1/15/2034 (d)(l)
|
3,605,000
|
3,522,791
|
|
Alpha Generation LLC 6.75% 10/15/2032 (l)
|
962,000
|
970,387
|
|
Sunnova Energy Corp 5.875% (c)(h)(l)
|
4,873,000
|
12,182
|
|
Talen Energy Supply LLC 6.25% 2/1/2034 (l)
|
4,045,000
|
3,967,380
|
|
Talen Energy Supply LLC 6.5% 2/1/2036 (l)
|
4,045,000
|
3,994,541
|
|
15,234,704
|
|||
TOTAL UTILITIES
|
124,011,703
|
||
TOTAL UNITED STATES
|
1,747,199,471
|
||
ZAMBIA - 0.3%
|
|||
Materials - 0.3%
|
|||
Metals & Mining - 0.3%
|
|||
First Quantum Minerals Ltd 6.375% 2/15/2036 (l)
|
2,750,000
|
2,650,450
|
|
First Quantum Minerals Ltd 7.25% 2/15/2034 (l)
|
1,500,000
|
1,524,843
|
|
First Quantum Minerals Ltd 8% 3/1/2033 (l)
|
1,885,000
|
1,954,613
|
|
First Quantum Minerals Ltd 8.625% 6/1/2031 (l)
|
1,825,000
|
1,893,438
|
|
TOTAL ZAMBIA
|
8,023,344
|
||
|
TOTAL NON-CONVERTIBLE CORPORATE BONDS
(Cost $2,110,808,828)
|
2,091,915,539
|
||
Non-Convertible Preferred Stocks - 0.1%
|
|||
Shares
|
Value ($)
|
||
UNITED STATES - 0.1%
|
|||
Information Technology - 0.1%
|
|||
Software - 0.1%
|
|||
Strategy Inc 10.25% (k)
(Cost $2,983,626)
|
31,700
|
2,836,516
|
|
Preferred Securities - 2.8%
|
|||
Principal
Amount (a)
|
Value ($)
|
||
FRANCE - 0.3%
|
|||
Financials - 0.3%
|
|||
Banks - 0.3%
|
|||
BNP Paribas SA 7.2% (f)(l)(p)
|
4,175,000
|
4,231,706
|
|
BNP Paribas SA 7.45% (f)(l)(p)
|
3,050,000
|
3,112,962
|
|
TOTAL FRANCE
|
7,344,668
|
||
UNITED KINGDOM - 0.1%
|
|||
Financials - 0.1%
|
|||
Banks - 0.1%
|
|||
HSBC Holdings PLC 6.75% (f)(p)
|
880,000
|
905,617
|
|
HSBC Holdings PLC 7% (f)(p)
|
1,345,000
|
1,396,816
|
|
TOTAL UNITED KINGDOM
|
2,302,433
|
||
UNITED STATES - 2.4%
|
|||
Energy - 0.7%
|
|||
Oil, Gas & Consumable Fuels - 0.7%
|
|||
Energy Transfer LP 6.625% (f)(p)
|
2,504,000
|
2,588,021
|
|
Energy Transfer LP Series G, 7.125% (f)(p)
|
2,860,000
|
2,978,567
|
|
Plains All American Pipeline LP CME Term SOFR 3 month Index + 4.3716%, 8.0227% (f)(g)(p)
|
7,696,000
|
7,826,008
|
|
Sunoco LP 7.875% (d)(f)(l)(p)
|
5,057,000
|
5,330,590
|
|
TOTAL ENERGY
|
18,723,186
|
||
Financials - 1.3%
|
|||
Banks - 0.8%
|
|||
Bank of America Corp 6.25% (f)(p)
|
2,505,000
|
2,509,977
|
|
BW Real Estate Inc 9.5% (f)(l)(p)
|
2,471,000
|
2,504,524
|
|
Citigroup Inc 6.5% (d)(f)(p)
|
1,423,000
|
1,440,080
|
|
Citigroup Inc 6.625% (f)(p)
|
1,324,000
|
1,348,601
|
|
JPMorgan Chase & Co 6.1% (f)(p)
|
6,570,000
|
6,576,566
|
|
Truist Financial Corp 6.25% (f)(p)
|
3,200,000
|
3,211,831
|
|
Wells Fargo & Co 6.125% (d)(f)(p)
|
4,256,000
|
4,286,387
|
|
21,877,966
|
|||
Consumer Finance - 0.5%
|
|||
Ally Financial Inc 4.7% (d)(f)(p)
|
11,080,000
|
10,816,065
|
|
Ally Financial Inc 7.1% (f)(p)
|
3,805,000
|
3,894,365
|
|
14,710,430
|
|||
Insurance - 0.0%
|
|||
Alliant Holdings LP 10.5% (c)(f)(p)
|
860,680
|
858,517
|
|
TOTAL FINANCIALS
|
37,446,913
|
||
Industrials - 0.4%
|
|||
Trading Companies & Distributors - 0.4%
|
|||
Sumisho Air Lease Corp 4.125% (f)(p)
|
10,682,000
|
10,577,052
|
|
Sumisho Air Lease Corp 8.256% (f)(p)
|
3,337,000
|
3,380,415
|
|
TOTAL INDUSTRIALS
|
13,957,467
|
||
TOTAL UNITED STATES
|
70,127,566
|
||
|
TOTAL PREFERRED SECURITIES
(Cost $76,572,600)
|
79,774,667
|
||
U.S. Treasury Obligations - 3.9%
|
||||
Yield (%) (r)
|
Principal
Amount (a)
|
Value ($)
|
||
US Treasury Bonds 4.625% 2/15/2046
|
4.57 to 5.10
|
14,606,000
|
13,455,777
|
|
US Treasury Notes 4% 2/15/2034
|
4.03 to 4.74
|
103,236,000
|
99,300,128
|
|
|
TOTAL U.S. TREASURY OBLIGATIONS
(Cost $115,246,128)
|
112,755,905
|
|||
Money Market Funds - 11.0%
|
||||
Yield (%)
|
Shares
|
Value ($)
|
||
Fidelity Cash Central Fund (s)
|
3.69
|
74,239,370
|
74,254,217
|
|
Fidelity Securities Lending Cash Central Fund (s)(t)
|
3.72
|
241,732,970
|
241,757,144
|
|
|
TOTAL MONEY MARKET FUNDS
(Cost $316,010,154)
|
316,011,361
|
|||
|
TOTAL INVESTMENT IN SECURITIES - 107.6%
(Cost $3,109,548,954)
|
3,080,756,874
|
NET OTHER ASSETS (LIABILITIES) - (7.6)%
|
(217,165,773)
|
NET ASSETS - 100.0%
|
2,863,591,101
|
EUR
|
-
|
European Monetary Unit (Euro)
|
(a)
|
Amount is stated in United States dollars unless otherwise noted.
|
(b)
|
Non-income producing.
|
(c)
|
Level 3 security.
|
(d)
|
Security or a portion of the security is on loan at period end.
|
(e)
|
Remaining maturities of bank loan obligations may be less than the stated maturities shown as a result of contractual or optional prepayments by the borrower. Such prepayments cannot be predicted with certainty.
|
(f)
|
Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.
|
(g)
|
Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors.
|
(h)
|
Non-income producing - Security is in default.
|
(i)
|
A coupon rate of 0% signifies an unsettled loan. The coupon rate will be determined upon settlement of the loan after period end.
|
(j)
|
Position or a portion of the position represents an unfunded loan commitment. At period end, the total principal amount and market value of unfunded commitments totaled $274,997 and $262,485, respectively.
|
(k)
|
Security initially issued at one coupon which converts to a higher coupon at a specified date. The rate shown is the rate at period end.
|
(l)
|
Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $1,781,440,471 or 62.2% of net assets.
|
(m)
|
Zero coupon bond which is issued at a discount.
|
(n)
|
Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $43,398,438 or 1.5% of net assets.
|
(o)
|
Affiliated fund.
|
(p)
|
Security is perpetual in nature with no stated maturity date.
|
(q)
|
Security exempt from registration under Regulation S of the Securities Act of 1933 and may be resold to qualified foreign investors outside of the United States. At the end of the period, the value of securities amounted to $3,643,308 or 0.1% of net assets.
|
(r)
|
Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.
|
(s)
|
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
|
(t)
|
Investment made with cash collateral received from securities on loan.
|
Additional information on each restricted holding is as follows:
|
||
Security
|
Acquisition Date
|
Acquisition Cost ($)
|
Fidelity Private Credit Company LLC
|
4/15/2022 - 7/29/2026
|
45,965,983
|
Affiliate
|
Value,
beginning
of period ($)
|
Purchases ($)
|
Sales
Proceeds ($)
|
Dividend
Income ($)
|
Realized
Gain (loss) ($)
|
Change in
Unrealized
appreciation
(depreciation) ($)
|
Value,
end
of period ($)
|
Shares,
end
of period
|
Fidelity Cash Central Fund
|
142,220,077
|
196,248,499
|
264,212,524
|
1,210,763
|
(3,042)
|
1,207
|
74,254,217
|
74,239,370
|
Fidelity Private Credit Company LLC
|
42,215,367
|
2,253,872
|
-
|
1,720,528
|
-
|
(1,070,801)
|
43,398,438
|
4,692,941
|
Fidelity Securities Lending Cash Central Fund
|
254,140,839
|
249,089,819
|
261,473,514
|
411,412
|
-
|
-
|
241,757,144
|
241,732,970
|
438,576,283
|
447,592,190
|
525,686,038
|
3,342,703
|
(3,042)
|
(1,069,594)
|
359,409,799
|