|
Asset-Backed Securities — 10.5% |
|
Security |
Principal
Amount
(000's omitted) |
Value | |
|
AASET, Series 2025-1A, Class A, 5.943%, 2/16/50(1)
|
$ |
268 |
$ 268,100 |
|
Acacia LLC, Series 2025-1, Class B, 6.21%,
11/15/37(1)
|
|
651 |
650,485 |
|
ACHM Mortgage Trust, Series 2024-HE1, Class C,
6.55%, 5/25/39(1)
|
|
253 |
250,370 |
|
Applebee's Funding LLC/IHOP Funding LLC,
Series 2025-1A, Class A2, 6.72%, 6/7/55(1)
|
|
1,231 |
1,228,252 |
|
Babson CLO Ltd., Series 2022-4A, Class D1R,
6.979%, (3 mo. SOFR + 3.25%), 10/20/37(1)(2)
|
|
1,000 |
1,001,295 |
|
Ballyrock CLO 16 Ltd., Series 2021-16A, Class DR,
8.879%, (3 mo. SOFR + 5.15%), 4/20/38(1)(2)
|
|
1,000 |
919,374 |
|
Barings CLO Ltd., Series 2025-1A, Class E, 8.329%,
(3 mo. SOFR + 4.60%), 4/20/38(1)(2)
|
|
1,000 |
988,497 |
|
Benefit Street Partners CLO XVIII Ltd.,
Series 2019-18A, Class ER2, 8.453%, (3 mo. SOFR
+ 4.70%), 10/15/38(1)(2)
|
|
500 |
493,581 |
|
Blueberry Park CLO Ltd., Series 2024-1A, Class D2,
7.979%, (3 mo. SOFR + 4.25%), 10/20/37(1)(2)
|
|
1,000 |
994,224 |
|
BlueMountain CLO XXVI Ltd., Series 2019-26A,
Class ER, 11.121%, (3 mo. SOFR + 7.392%),
10/20/34(1)(2)
|
|
500 |
485,301 |
|
Bridge Trust: |
|
|
|
|
Series 2024-SFR1, Class E1, 4.30%, 8/17/40(1)
|
|
465 |
444,298 |
|
Series 2025-SFR1, Class E, 4.35%, 9/17/42(1)
|
|
437 |
398,969 |
|
Cajun Global LLC: |
|
|
|
|
Series 2025-1A, Class A2, 6.554%, 2/20/55(1)
|
|
964 |
978,167 |
|
Series 2025-2A, Class A2, 5.912%, 11/20/55(1)
|
|
890 |
885,802 |
|
Series 2025-2A, Class M, 8.72%, 11/20/55(1)
|
|
1,000 |
987,613 |
|
Cloud Capital Holdco LP, Series 2024-2A, Class A2,
5.923%, 11/22/49(1)
|
|
1,000 |
991,732 |
|
Crown City CLO III, Series 2021-1A, Class C, 7.237%,
(3 mo. SOFR + 3.562%), 7/20/34(1)(2)
|
|
1,000 |
982,718 |
|
DataBank Issuer, Series 2026-1A, Class A2, 5.811%,
2/25/56(1)
|
|
1,560 |
1,546,162 |
|
DataBank Issuer II LLC, Series 2025-1A, Class B,
5.669%, 9/27/55(1)
|
|
1,000 |
947,926 |
|
Eldridge CLO Ltd.: |
|
|
|
|
Series 2025-2A, Class D1, 6.579%, (3 mo. SOFR
+ 2.85%), 1/20/39(1)(2)
|
|
1,000 |
1,003,539 |
|
Series 2025-2A, Class E, 8.979%, (3 mo. SOFR +
5.25%), 1/20/39(1)(2)
|
|
500 |
504,448 |
|
Elmwood CLO 32 Ltd., Series 2024-8A, Class D1,
6.579%, (3 mo. SOFR + 2.85%), 10/18/37(1)(2)
|
|
1,500 |
1,502,989 |
|
Galaxy 33 CLO Ltd., Series 2024-33A, Class D1,
7.279%, (3 mo. SOFR + 3.55%), 4/20/37(1)(2)
|
|
800 |
798,360 |
|
Gracie Point International Funding LLC,
Series 2025-1A, Class C, 6.382%, (30-day SOFR
Average + 2.75%), 8/15/28(1)(2)
|
|
330 |
330,290 |
|
Security |
Principal
Amount
(000's omitted) |
Value | |
|
Hageman Capital Issuer Trust, Series 2025-1, Class A,
6.40%, 8/9/56(1)
|
$ |
1,089 |
$ 1,095,513 |
|
Harvest U.S. CLO Ltd.: |
|
|
|
|
Series 2024-2A, Class D1, 7.003%, (3 mo. SOFR
+ 3.25%), 10/15/37(1)(2)
|
|
1,500 |
1,501,705 |
|
Series 2024-3A, Class D1, 7.029%, (3 mo. SOFR
+ 3.30%), 1/18/38(1)(2)
|
|
1,000 |
1,003,016 |
|
Home Partners of America Trust, Series 2021-2,
Class F, 3.799%, 12/17/26(1)
|
|
1,247 |
1,235,680 |
|
HTAP Issuer Trust, Series 2024-2, Class A, 6.50%,
4/25/42(1)
|
|
683 |
681,252 |
|
Kinetic Advantage Master Owner Trust,
Series 2025-1A, Class A, 5.825%, (30-day SOFR
Average + 2.20%), 10/15/29(1)(2)
|
|
880 |
886,834 |
|
Lafayette Federal Credit Union Asset Trust,
Series 2026-HI1A, Class A2, 5.375%, 1/25/46(1)
|
|
1,011 |
995,408 |
|
LoanDepot GMSR Trust: |
|
|
|
|
Series 2025-GT1, Class A, 6.555%, (1 mo. SOFR
+ 2.85%), 5/16/30(1)(2)
|
|
1,354 |
1,350,072 |
|
Series 2025-GT1, Class B, 7.255%, (1 mo. SOFR
+ 3.55%), 5/16/30(1)(2)
|
|
270 |
270,175 |
|
Madison Park Funding LV Ltd., Series 2022-55A,
Class D1R, 6.879%, (3 mo. SOFR + 3.15%),
7/18/37(1)(2)
|
|
1,500 |
1,443,996 |
|
Madison Park Funding XXXVI Ltd., Series 2019-36A,
Class ERR, 9.353%, (3 mo. SOFR + 5.60%),
4/15/35(1)(2)
|
|
1,000 |
851,504 |
|
Magnetite XXII Ltd., Series 2019-22A, Class DRR,
6.653%, (3 mo. SOFR + 2.90%), 7/15/36(1)(2)
|
|
1,250 |
1,251,541 |
|
Marble Point CLO XXIV Ltd., Series 2022-1A,
Class D1R, 6.979%, (3 mo. SOFR + 3.25%),
4/20/35(1)(2)
|
|
1,000 |
983,460 |
|
MidOcean Credit CLO XXII, Series 2026-22A, Class E,
8.629%, (3 mo. SOFR + 4.90%), 4/20/39(1)(2)
|
|
1,000 |
998,389 |
|
Mission Lane Credit Card Master Trust, Series 2026-A,
Class B, 5.34%, 7/15/32(1)
|
|
240 |
238,490 |
|
NRZ Excess Spread-Collateralized Notes,
Series 2024-FNT1, Class A, 7.398%, 11/25/31(1)
|
|
672 |
669,728 |
|
Octagon Investment Partners 49 Ltd., Series 2020-5A,
Class D1R, 7.803%, (3 mo. SOFR + 4.05%),
4/15/37(1)(2)
|
|
1,200 |
1,195,510 |
|
Phantom Aviation, Series 2026-1, Class B, 6.027%,
1/15/51(1)
|
|
977 |
945,249 |
|
PNMAC GMSR Issuer Trust, Series 2025-GT1, Class A,
6.174%, (1 mo. SOFR + 2.45%), 8/26/30(1)(2)
|
|
1,315 |
1,322,648 |
|
PRMI Securitization Trust, Series 2025-PHL1,
Class A3, 5.923%, (30-day SOFR Average +
2.33%), 6/25/55(1)(2)
|
|
1,200 |
1,202,523 |
|
RR 35 Ltd., Series 2024-35A, Class D, 9.103%, (3 mo.
SOFR + 5.35%), 1/15/40(1)(2)
|
|
2,500 |
2,507,877 |
|
Security |
Principal
Amount
(000's omitted) |
Value | |
|
Saluda Grade Alternative Mortgage Trust,
Series 2025-NPL2, Class A1, 7.774% to 4/25/28,
5/25/30(1)(3)
|
$ |
626 |
$ 624,162 |
|
Santander Bank Auto Credit-Linked Notes: |
|
|
|
|
Series 2024-B, Class F, 8.881%, 1/18/33(1)
|
|
581 |
594,942 |
|
Series 2025-A, Class E, 6.274%, 1/16/34(1)
|
|
1,500 |
1,496,801 |
|
SCF Equipment Leasing LLC, Series 2025-2A, Class E,
6.21%, 6/20/36(1)
|
|
1,367 |
1,332,392 |
|
Sixth Street CLO XV Ltd., Series 2020-15A, Class D1R,
6.925%, (3 mo. SOFR + 3.15%), 10/24/37(1)(2)
|
|
1,000 |
1,000,149 |
|
STAR Trust: |
|
|
|
|
Series 2025-SFR5, Class D, 6.127%, (1 mo. SOFR
+ 2.45%), 2/17/42(1)(2)
|
|
459 |
460,621 |
|
Series 2025-SFR5, Class E, 6.627%, (1 mo. SOFR
+ 2.95%), 2/17/42(1)(2)
|
|
230 |
230,164 |
|
Series 2025-SFR6, Class D, 6.077%, (1 mo. SOFR
+ 2.40%), 8/17/42(1)(2)
|
|
674 |
677,506 |
|
Tricon Residential Trust, Series 2025-SFR1, Class E,
6.176%, (1 mo. SOFR + 2.50%), 3/17/42(1)(2)
|
|
422 |
422,423 |
|
Truist Bank Auto Credit-Linked Notes, Series 2025-1,
Class C, 6.807%, 9/26/33(1)
|
|
975 |
972,323 |
|
Vantage Data Centers Germany Borrower Lux SARL,
Series 2025-1A, Class B, 4.929%, 6/28/50(1)
|
|
635 |
720,909 |
|
VB-S1 Issuer LLC, Series 2024-1A, Class F, 8.871%,
5/15/54(1)
|
|
1,000 |
1,023,762 |
|
Wingspire Equipment Finance LLC, Series 2025-1A,
Class E, 7.45%, 9/20/33(1)
|
|
1,000 |
1,000,674 |
|
Total Asset-Backed Securities
(identified cost $53,151,660) |
|
|
$ 52,769,890 |
|
Collateralized Mortgage Obligations — 7.5% |
|
Security |
Principal
Amount
(000's omitted) |
Value | |
|
A&D Mortgage Trust: |
|
|
|
|
Series 2023-NQM5, Class M1, 8.033%,
11/25/68(1)(4)
|
$ |
370 |
$ 372,372 |
|
Series 2024-NQM4, Class M1, 5.929%,
8/25/69(1)(4)
|
|
509 |
509,079 |
|
Series 2024-NQM6, Class B1A, 7.255%,
1/25/70(1)(4)
|
|
459 |
463,957 |
|
Asset Based Lending LLC, Series 2024-RTL1,
Class A1, 6.075% to 3/25/27, 9/25/29(1)(3)
|
|
500 |
501,863 |
|
Cascade Funding Mortgage Trust: |
|
|
|
|
Series 2025-HB16, Class M3, 3.00%, 3/25/35(1)(4)
|
|
669 |
645,491 |
|
Series 2025-HB16, Class M4, 3.00%, 3/25/35(1)(4)
|
|
1,000 |
955,125 |
|
Center Street Lending Resi-Investor ABS Mortgage
Trust, Series 2024-RTL1, Class A1, 6.892% to
5/25/27, 10/25/29(1)(3)
|
|
500 |
503,340 |
|
Security |
Principal
Amount
(000's omitted) |
Value | |
|
CFMT LLC: |
|
|
|
|
Series 2024-HB15, Class M2, 4.00%, 8/25/34(1)(4)
|
$ |
625 |
$ 613,393 |
|
Series 2024-HB15, Class M3, 4.00%, 8/25/34(1)(4)
|
|
689 |
671,711 |
|
Champs Trust: |
|
|
|
|
Series 2024-1, Class A, 11.105%, 7/25/59(1)(4)
|
|
658 |
672,726 |
|
Series 2024-2, Class A, 7.997%, 11/25/59(1)(4)
|
|
653 |
671,443 |
|
Series 2024-3, Class A, 9.05%, 1/25/60(1)(4)
|
|
848 |
872,987 |
|
Series 2025-1, Class A, 8.324%, 4/25/60(1)(4)
|
|
1,003 |
1,035,551 |
|
Series 2025-2, Class A, 7.904%, 10/25/60(1)(4)
|
|
1,403 |
1,449,978 |
|
Cross Mortgage Trust: |
|
|
|
|
Series 2025-H2, Class B1A, 6.626%, 3/25/70(1)(4)
|
|
1,346 |
1,335,654 |
|
Series 2025-H5, Class B1A, 6.975%, 7/25/70(1)(4)
|
|
1,235 |
1,244,615 |
|
EFMT: |
|
|
|
|
Series 2025-NQM2, Class M1A, 6.268%,
6/25/70(1)(4)
|
|
823 |
824,704 |
|
Series 2025-NQM3, Class B2, 7.225%,
8/25/70(1)(4)
|
|
1,000 |
987,143 |
|
Series 2025-NQM3, Class M1A, 6.052%,
8/25/70(1)(4)
|
|
808 |
804,254 |
|
Series 2025-NQM3, Class M1B, 6.451%,
8/25/70(1)(4)
|
|
1,619 |
1,619,081 |
|
FARM Mortgage Trust, Series 2022-1, Class B,
2.959%, 1/25/52(1)(4)
|
|
804 |
602,567 |
|
HTAP Issuer Trust, Series 2025-1, Class A, 6.50%,
11/25/42(1)
|
|
1,155 |
1,144,262 |
|
JP Morgan Mortgage Trust, Series 2025-NQM2,
Class M1B, 6.902%, 9/25/65(1)(4)
|
|
634 |
638,892 |
|
JPM Lending Facility, 9.981%, (SOFR + 7.00%),
7/15/29(2)
|
|
1,238 |
1,234,546 |
|
loanDepot FAMSR Master Trust, Series 2025-FT1,
Class A, 6.474%, (1 mo. SOFR + 2.75%),
12/19/30(1)(2)
|
|
860 |
863,838 |
|
MFA Trust, Series 2025-NQM3, Class M1, 6.131%,
8/25/70(1)(4)
|
|
879 |
882,131 |
|
MFRA Trust: |
|
|
|
|
Series 2024-NQM3, Class M1, 6.671%,
12/25/69(1)(4)
|
|
459 |
464,650 |
|
Series 2025-NQM1, Class B1, 7.034%,
3/25/70(1)(4)
|
|
1,000 |
1,009,513 |
|
NRZ Excess Spread-Collateralized Notes,
Series 2025-FHT1, Class A, 6.545%, 3/25/32(1)
|
|
695 |
702,154 |
|
Onity Loan Investment Trust, Series 2024-HB2,
Class M4, 5.00%, 8/25/37(1)(4)
|
|
500 |
478,109 |
|
PRET Trust, Series 2025-RPL5, Class M1, 4.15% to
10/25/27, 1/25/70(1)(3)
|
|
564 |
519,429 |
|
PRMI Securitization Trust, Series 2025-CMG1,
Class M1, 6.432%,(30-day SOFR Average +
2.80%), 12/25/55(1)(2)
|
|
430 |
430,317 |
|
PRPM Fundido DAC: |
|
|
|
|
Series 2025-2A, Class C, 4.454%, (3 mo. EURIBOR
+ 2.00%), 1/29/75(1)(2)
|
|
445 |
508,474 |
|
Security |
Principal
Amount
(000's omitted) |
Value | |
|
PRPM Fundido DAC: (continued) |
|
|
|
|
Series 2025-2A, Class D, 4.954%, (3 mo. EURIBOR
+ 2.50%), 1/29/75(1)(2)
|
$ |
500 |
$ 561,998 |
|
PRPM LLC: |
|
|
|
|
Series 2024-NQM1, Class B1, 7.347%,
12/25/68(1)(4)
|
|
1,000 |
1,003,752 |
|
Series 2024-NQM4, Class M1A, 6.518%,
12/26/69(1)(4)
|
|
459 |
462,434 |
|
Series 2024-RCF4, Class M1, 4.00% to 7/25/26,
7/25/54(1)(3)
|
|
467 |
451,372 |
|
Series 2024-RCF5, Class M1, 4.00% to 8/25/26,
8/25/54(1)(3)
|
|
375 |
362,231 |
|
Series 2025-RPL2, Class M1, 3.75% to 4/25/26,
4/25/55(1)(3)
|
|
461 |
441,851 |
|
PRPM Trust: |
|
|
|
|
Series 2025-NQM3, Class M1, 6.188%,
5/25/70(1)(4)
|
|
539 |
533,828 |
|
Series 2025-NQM2, Class M1B, 7.077%,
4/25/70(1)(4)
|
|
1,104 |
1,113,060 |
|
Series 2025-NQM5, Class M1, 5.903%,
10/25/70(1)(4)
|
|
875 |
858,274 |
|
RMF Proprietary Issuance Trust, Series 2022-2,
Class M3, 3.75%, 6/25/62(1)(4)
|
|
1,000 |
931,144 |
|
Santander Mortgage Asset Receivable Trust: |
|
|
|
|
Series 2025-NQM1, Class M1B, 6.966%,
1/25/65(1)(4)
|
|
897 |
904,226 |
|
Series 2025-NQM5, Class M1, 6.042%,
8/25/65(1)(4)
|
|
1,740 |
1,730,195 |
|
SUA LLC, Series 2025-1, Class B, 6.995%, 5/25/40(1)
|
|
1,246 |
1,245,615 |
|
Unison Trust, Series 2021-1, Class A, 6.50%,
4/25/50(1)(4)
|
|
1,032 |
887,404 |
|
Total Collateralized Mortgage Obligations
(identified cost $37,442,765) |
|
|
$ 37,720,733 |
|
Commercial Mortgage-Backed Securities — 3.9% |
|
Security |
Principal
Amount*
(000's omitted) |
Value | |
|
BAHA Trust, Series 2024-MAR, Class C, 7.516%, ,
12/10/41(1)(4)
|
|
750 |
$ 769,516 |
|
BBCMS Mortgage Trust, Series 2017-C1, Class D,
3.542%, 2/15/50(1)(4)
|
|
1,000 |
757,708 |
|
BFLD Commercial Mortgage Trust: |
|
|
|
|
Series 2025-660F, Class C, 5.826%, (1 mo. SOFR
+ 2.15%), 11/15/42(1)(2)
|
|
355 |
356,148 |
|
Series 2025-660F, Class D, 6.426%, (1 mo. SOFR
+ 2.75%), 11/15/42(1)(2)
|
|
445 |
447,202 |
|
BX Trust: |
|
|
|
|
Series 2025-GW, Class E, 7.326%, (1 mo. SOFR +
3.65%), 7/15/42(1)(2)
|
|
870 |
877,379 |
|
Security |
Principal
Amount*
(000's omitted) |
Value | |
|
BX Trust: (continued) |
|
|
|
|
Series 2026-CLS, Class D, 7.126%, (1 mo. SOFR
+ 3.45%), 5/15/43(1)(2)
|
|
1,175 |
$ 1,182,542 |
|
Caister Finance DAC, Series 1A, Class C, 6.588%,
(SONIA + 2.84%), 8/17/35(1)(2)
|
GBP |
700 |
943,426 |
|
CSMC Trust, Series 2022-CNTR, Class A, 7.621%,
(1 mo. SOFR + 3.944%), 1/9/25(1)(2)
|
|
516 |
54,136 |
|
Extended Stay America Trust: |
|
|
|
|
Series 2025-ESH, Class D, 6.276%, (1 mo. SOFR
+ 2.60%), 10/15/42(1)(2)
|
|
361 |
365,096 |
|
Series 2025-ESH, Class E, 7.026%, (1 mo. SOFR
+ 3.35%), 10/15/42(1)(2)
|
|
337 |
341,379 |
|
Series 2025-ESH, Class F, 7.776%, (1 mo. SOFR +
4.10%), 10/15/42(1)(2)
|
|
289 |
293,130 |
|
Series 2026-ESH2, Class D, (1 mo. SOFR +
2.25%), 2/15/43(1)(2)
|
|
403 |
405,982 |
|
Series 2026-ESH2, Class F, (1 mo. SOFR +
3.75%), 2/15/43(1)(2)
|
|
328 |
331,667 |
|
Fontainebleau Miami Beach Mortgage Trust,
Series 2024-FBLU, Class F, 7.926%, (1 mo. SOFR
+ 4.25%), 12/15/39(1)(2)
|
|
500 |
504,850 |
|
ICNQ Mortgage Trust, Series 2024-MF, Class E,
6.348%, 12/10/34(1)(4)
|
|
1,000 |
991,651 |
|
JPMBB Commercial Mortgage Securities Trust,
Series 2014-C23, Class D, 4.022%, , 9/15/47(1)(4)
|
|
750 |
697,024 |
|
JPMorgan Chase Commercial Mortgage Securities
Trust, Series 2014-DSTY, Class B, 3.771%, ,
6/10/27(1)
|
|
150 |
5,511 |
|
JW Commercial Mortgage Trust, Series 2026-MRCO,
Class D, (1 mo. SOFR + 2.45%), 6/15/39(1)(2)
|
|
293 |
295,342 |
|
LBTY Commercial Mortgage Trust, Series 2026-225L,
Class E, 6.578%, 2/10/43(1)(4)
|
|
1,610 |
1,576,323 |
|
NYC Commercial Mortgage Trust, Series 2025-3BP,
Class E, 7.216%, (1 mo. SOFR + 3.539%),
2/15/42(1)(2)
|
|
1,000 |
1,002,628 |
|
ORL Trust, Series 2024-GLKS, Class E, 6.867%,
(1 mo. SOFR + 3.19%), 12/15/39(1)(2)
|
|
344 |
346,480 |
|
ROCK Trust, Series 2024-CNTR, Class E, 8.819%,,
11/13/41(1)
|
|
1,000 |
1,041,227 |
|
Sirius Logistics U.K. DAC, Series 2026-1A, Class D,
6.297%, (SONIA + 2.55%), 11/17/35(1)(2)
|
GBP |
1,500 |
2,026,636 |
|
Taurus U.K. DAC, Series 2025-UK3A, Class E,
7.533%, (SONIA + 3.80%), 7/20/35(1)(2)
|
GBP |
500 |
674,656 |
|
VCC Trust, Series 2025-MC1, Class A1, 8.163% to
5/25/28, 5/25/55(1)(3)
|
|
687 |
683,693 |
|
Vita Scientia DAC, Series 2022-1A, Class D, 4.694%,
(3 mo. EURIBOR + 2.49%), 2/27/33(1)(2)
|
EUR |
450 |
517,594 |
|
Security |
Principal
Amount*
(000's omitted) |
Value | |
|
Wells Fargo Commercial Mortgage Trust,
Series 2016-C35, Class D, 3.142%, , 7/15/48(1)
|
|
1,700 |
$ 1,637,203 |
|
Willowbrook Mall, Series 2025-WBRK, Class D,
6.075%, , 3/5/35(1)(4)
|
|
459 |
445,890 |
|
Total Commercial Mortgage-Backed Securities
(identified cost $19,968,028) |
|
|
$ 19,572,019 |
|
Common Stocks — 0.4% |
|
Security |
Shares |
Value | |
|
Electronic Equipment, Instruments & Components — 0.3% | |||
|
Luxco Co. Ltd.(5)(6)
|
|
2,251 |
$ 43,849 |
|
Range Red Acquisitions LLC, Class A1(5)(6)(7)
|
|
974 |
1,314,033 |
|
|
|
|
$ 1,357,882 |
|
Energy — 0.1% | |||
|
Enviva LLC(5)(6)(8)
|
|
13,431 |
$ 262,744 |
|
|
|
|
$ 262,744 |
|
Machinery — 0.0% | |||
|
Apex Tool Ultimate Holdings LLC(5)(6)(7)
|
|
4,582 |
$ 0 |
|
|
|
|
$ 0 |
|
Oil and Gas — 0.0%† | |||
|
Frontera Energy Corp. |
|
15,961 |
$ 101,788 |
|
|
|
|
$ 101,788 |
|
Pharmaceuticals — 0.0%† | |||
|
Keenova Therapeutics PLC(5)
|
|
109 |
$ 10,712 |
|
Mallinckrodt International Finance SA(5)(6)
|
|
1,976 |
194,197 |
|
Par Health, Inc.(5)(6)
|
|
2,085 |
13,255 |
|
|
|
|
$ 218,164 |
|
Software and Services — 0.0% | |||
|
Blackboard LLC(5)(6)(7)
|
|
10,131 |
$ 0 |
|
|
|
|
$ 0 |
|
Total Common Stocks
(identified cost $2,385,303) |
|
|
$ 1,940,578 |
|
Convertible Bonds — 0.3% |
|
Security |
Principal
Amount*
(000's omitted) |
Value | |
|
Computers — 0.1% | |||
|
Zscaler, Inc., 0.00%, 7/15/28 |
|
480 |
$ 446,296 |
|
|
|
|
$ 446,296 |
|
Engineering & Construction — 0.1% | |||
|
Cellnex Telecom SA, 2.125%, 8/11/30(9)
|
EUR |
500 |
$ 609,298 |
|
|
|
|
$ 609,298 |
|
Transportation — 0.1% | |||
|
Ocado Group PLC, 6.25%, 8/6/29(9)
|
|
200 |
$ 261,121 |
|
|
|
|
$ 261,121 |
|
Total Convertible Bonds
(identified cost $1,319,663) |
|
|
$ 1,316,715 |
|
Convertible Preferred Stocks — 0.2% |
|
Security |
Shares |
Value | |
|
Trading Companies & Distributors — 0.2% | |||
|
QXO, Inc., 4.75%(5)(7)(8)
|
|
132 |
$ 946,911 |
|
Total Convertible Preferred Stocks
(identified cost $1,320,058) |
|
|
$ 946,911 |
|
Corporate Bonds — 41.8% |
|
Security |
Principal
Amount*
(000's omitted) |
Value | |
|
Aerospace and Defense — 0.6% | |||
|
Bombardier, Inc.: |
|
|
|
|
7.00%, 6/1/32(1)
|
|
275 |
$ 283,682 |
|
7.25%, 7/1/31(1)
|
|
536 |
558,952 |
|
Czechoslovak Group AS, 5.25%, 1/10/31(1)
|
EUR |
780 |
913,961 |
|
Moog, Inc., 5.50%, 10/15/34(1)
|
|
225 |
218,233 |
|
TransDigm, Inc., 4.625%, 1/15/29 |
|
1,023 |
1,003,604 |
|
|
|
|
$ 2,978,432 |
|
Airlines — 0.1% | |||
|
VistaJet Malta Finance PLC/Vista Management
Holding, Inc., 6.375%, 2/1/30(1)
|
|
605 |
$ 571,455 |
|
|
|
|
$ 571,455 |
|
Security |
Principal
Amount*
(000's omitted) |
Value | |
|
Apparel & Luxury Goods — 1.1% | |||
|
Beach Acquisition Bidco LLC: |
|
|
|
|
5.25%, 7/15/32(1)
|
EUR |
1,440 |
$ 1,672,924 |
|
10.00%, (10.00% cash or 10.75% PIK),
7/15/33(1)(10)
|
|
2,472 |
2,655,168 |
|
Champ Acquisition Corp., 8.375%, 12/1/31(1)
|
|
757 |
791,405 |
|
PrestigeBidCo GmbH, 6.181%, (3 mo. EURIBOR +
3.75%), 7/1/29(2)(9)
|
EUR |
565 |
660,675 |
|
|
|
|
$ 5,780,172 |
|
Automotive — 0.9% | |||
|
Asbury Automotive Group, Inc., 5.00%, 2/15/32(1)
|
|
683 |
$ 651,134 |
|
Cooper-Standard Automotive, Inc., 9.25%, 3/1/31(1)
|
|
370 |
376,920 |
|
IHO Verwaltungs GmbH: |
|
|
|
|
5.625%, (5.625% cash or 6.375% PIK), 5/15/31(9)
|
EUR |
180 |
216,458 |
|
6.375%, (6.375% cash or 7.125% PIK),
5/15/29(1)(10)
|
|
250 |
251,786 |
|
6.75%, (6.75% cash or 7.50% PIK),
11/15/29(9)(10)
|
EUR |
382 |
460,326 |
|
7.375%, (7.375% cash or 8.125% PIK), 5/15/33(1)
|
|
200 |
207,453 |
|
7.75%, (7.75% cash or 8.50% PIK),
11/15/30(1)(10)
|
|
200 |
207,960 |
|
JB Poindexter & Co., Inc., 8.75%, 12/15/31(1)
|
|
525 |
541,595 |
|
Lithia Motors, Inc., 3.875%, 6/1/29(1)
|
|
250 |
240,177 |
|
New Flyer Holdings, Inc., 9.25%, 7/1/30(1)
|
|
325 |
348,142 |
|
Realtruck Group, Inc., 6.25%, 7/31/31(1)
|
|
1,071 |
193,114 |
|
Sonic Automotive, Inc.: |
|
|
|
|
4.625%, 11/15/29(1)
|
|
587 |
572,095 |
|
4.875%, 11/15/31(1)
|
|
239 |
228,413 |
|
|
|
|
$ 4,495,573 |
|
Building and Development — 1.6% | |||
|
AmeriTex HoldCo Intermediate LLC, 7.625%,
8/15/33(1)
|
|
501 |
$ 516,253 |
|
CP Atlas Buyer, Inc., 9.75%, 7/15/30(1)
|
|
685 |
617,578 |
|
Dream Finders Homes, Inc., 6.875%, 9/15/30(1)
|
|
508 |
496,259 |
|
EMRLD Borrower LP/Emerald Co-Issuer, Inc.: |
|
|
|
|
6.375%, 12/15/30(9)
|
EUR |
400 |
475,372 |
|
6.625%, 12/15/30(1)
|
|
885 |
900,618 |
|
K Hovnanian Enterprises, Inc.: |
|
|
|
|
8.00%, 4/1/31(1)
|
|
700 |
714,062 |
|
8.375%, 10/1/33(1)
|
|
510 |
518,725 |
|
LBM Acquisition LLC: |
|
|
|
|
6.25%, 1/15/29(1)
|
|
261 |
168,546 |
|
9.50%, 6/15/31(1)
|
|
700 |
589,505 |
|
Masterbrand, Inc., 7.00%, 7/15/32(1)
|
|
840 |
841,109 |
|
Security |
Principal
Amount*
(000's omitted) |
Value | |
|
Building and Development (continued) | |||
|
Miller Homes Group Finco PLC, 6.533%, (3 mo.
EURIBOR + 4.25%), 10/15/30(2)(9)
|
EUR |
420 |
$ 485,986 |
|
Patrick Industries, Inc., 4.75%, 5/1/29(1)
|
|
741 |
723,493 |
|
Smyrna Ready Mix Concrete LLC, 6.00%, 11/1/28(1)
|
|
1,002 |
1,001,335 |
|
|
|
|
$ 8,048,841 |
|
Building Materials — 0.5% | |||
|
Builders FirstSource, Inc., 4.25%, 2/1/32(1)
|
|
1,230 |
$ 1,120,540 |
|
HT Troplast GmbH, 7.625%, 7/15/31(9)
|
EUR |
310 |
361,212 |
|
Quikrete Holdings, Inc.: |
|
|
|
|
6.375%, 3/1/32(1)
|
|
609 |
616,916 |
|
6.75%, 3/1/33(1)
|
|
568 |
575,814 |
|
|
|
|
$ 2,674,482 |
|
Business Equipment and Services — 0.2% | |||
|
Allied Universal Holdco LLC/Allied Universal Finance
Corp., 6.00%, 6/1/29(1)
|
|
923 |
$ 915,661 |
|
|
|
|
$ 915,661 |
|
Cable and Satellite Television — 0.3% | |||
|
CCO Holdings LLC/CCO Holdings Capital Corp.: |
|
|
|
|
4.25%, 2/1/31(1)
|
|
585 |
$ 518,389 |
|
4.25%, 1/15/34(1)
|
|
287 |
234,626 |
|
4.50%, 8/15/30(1)
|
|
726 |
662,981 |
|
|
|
|
$ 1,415,996 |
|
Capital Markets — 0.2% | |||
|
Focus Financial Partners LLC, 6.75%, 9/15/31(1)
|
|
835 |
$ 830,324 |
|
|
|
|
$ 830,324 |
|
Chemicals — 1.4% | |||
|
Bond U.S. Bidco 1, Inc./Bidco 2/Bidco 3/German Bidco
1 GmbH/German Bidco 2: |
|
|
|
|
6.50%, 6/15/33(9)
|
EUR |
500 |
$ 580,175 |
|
7.125%, 6/15/33(1)
|
|
460 |
463,124 |
|
Calderys Financing II LLC, 11.75%, (11.75% cash or
12.50% PIK), 6/1/28(1)(10)
|
|
792 |
807,764 |
|
Calderys Financing LLC, 11.25%, 6/1/28(1)
|
|
1,070 |
1,109,330 |
|
FIS Fabbrica Italiana Sintetici SpA: |
|
|
|
|
5.25%, 2/5/31(1)
|
EUR |
420 |
488,330 |
|
5.399%, (3 mo. EURIBOR + 3.25%), 2/5/31(1)(2)
|
EUR |
120 |
139,767 |
|
5.399%, (3 mo. EURIBOR + 3.25%), 2/5/31(2)(9)
|
EUR |
280 |
326,122 |
|
Olympus Water U.S. Holding Corp.: |
|
|
|
|
6.125%, 2/15/33(1)
|
EUR |
1,355 |
1,562,704 |
|
7.25%, 2/15/33(1)
|
|
600 |
588,162 |
|
Security |
Principal
Amount*
(000's omitted) |
Value | |
|
Chemicals (continued) | |||
|
SCIH Salt Holdings, Inc.: |
|
|
|
|
6.625%, 8/15/31(1)(11)
|
|
395 |
$ 395,423 |
|
8.00%, 8/15/32(1)(11)
|
|
385 |
382,571 |
|
|
|
|
$ 6,843,472 |
|
Chemicals and Plastics — 1.0% | |||
|
ASK Chemicals Deutschland Holding GmbH, 10.00%,
11/15/29(9)
|
EUR |
225 |
$ 257,849 |
|
Avient Corp.: |
|
|
|
|
6.25%, 11/1/31(1)
|
|
325 |
327,615 |
|
7.125%, 8/1/30(1)
|
|
760 |
771,811 |
|
Celanese U.S. Holdings LLC, 7.70%, 11/15/33 |
|
1,130 |
1,197,152 |
|
Cerdia Finanz GmbH, 9.375%, 10/3/31(1)
|
|
810 |
720,301 |
|
INEOS Finance PLC: |
|
|
|
|
6.375%, 4/15/29(9)
|
EUR |
400 |
453,425 |
|
7.25%, 3/31/31(9)
|
EUR |
340 |
368,495 |
|
7.875%, 11/15/31(9)
|
EUR |
980 |
1,077,926 |
|
|
|
|
$ 5,174,574 |
|
Commercial Services — 2.1% | |||
|
Aegis Lux 1a SARL, 5.625% PIK, 10/29/31(1)(10)
|
EUR |
500 |
$ 585,742 |
|
Allied Universal Holdco LLC/Allied Universal Finance
Corp./Atlas Luxco 4 SARL, 4.875%, 6/1/28(9)
|
GBP |
580 |
775,646 |
|
AMN Healthcare, Inc., 4.00%, 4/15/29(1)
|
|
562 |
540,394 |
|
Carrix, Inc., 6.125%, 8/1/33(1)
|
|
560 |
558,813 |
|
Champions Financing, Inc., 8.75%, 2/15/29(1)
|
|
193 |
191,106 |
|
Currenta Group Holdings SARL, 6.283%, (3 mo.
EURIBOR + 4.00%), 5/15/32(1)(2)
|
EUR |
1,020 |
1,183,576 |
|
Herc Holdings, Inc.: |
|
|
|
|
5.75%, 3/15/31(1)
|
|
100 |
99,073 |
|
6.00%, 3/15/34(1)
|
|
120 |
117,775 |
|
7.00%, 6/15/30(1)
|
|
400 |
412,852 |
|
7.25%, 6/15/33(1)
|
|
340 |
351,110 |
|
Mavis Tire Express Services Topco Corp., 6.50%,
5/15/29(1)
|
|
1,323 |
1,303,556 |
|
Multiversity SpA, 7.125%, 5/17/31(1)
|
EUR |
515 |
610,943 |
|
Neptune Bidco U.S., Inc., 9.29%, 4/15/29(1)
|
|
165 |
168,228 |
|
NESCO Holdings II, Inc., 5.50%, 4/15/29(1)
|
|
891 |
885,382 |
|
Shift4 Payments LLC/Shift4 Payments Finance Sub,
Inc.: |
|
|
|
|
5.50%, 5/15/33(9)
|
EUR |
245 |
277,619 |
|
6.75%, 8/15/32(1)
|
|
537 |
538,125 |
|
Synergy Infrastructure Holdings LLC: |
|
|
|
|
7.00%, 7/15/34(1)
|
|
135 |
136,279 |
|
7.875%, 12/1/30(1)
|
|
490 |
512,361 |
|
Security |
Principal
Amount*
(000's omitted) |
Value | |
|
Commercial Services (continued) | |||
|
Wand NewCo 3, Inc., 7.625%, 1/30/32(1)
|
|
1,201 |
$ 1,233,972 |
|
|
|
|
$ 10,482,552 |
|
Commercial Services & Supplies — 0.2% | |||
|
Reworld Holding Corp., 4.875%, 12/1/29(1)
|
|
839 |
$ 796,867 |
|
|
|
|
$ 796,867 |
|
Computers — 0.7% | |||
|
Amentum Holdings, Inc., 7.25%, 8/1/32(1)
|
|
1,217 |
$ 1,251,311 |
|
CACI International, Inc., 6.375%, 6/15/33(1)
|
|
375 |
378,245 |
|
Diebold Nixdorf, Inc., 7.75%, 3/31/30(1)
|
|
775 |
806,479 |
|
Insight Enterprises, Inc., 6.625%, 5/15/32(1)
|
|
671 |
675,340 |
|
Science Applications International Corp., 5.875%,
11/1/33(1)
|
|
330 |
323,415 |
|
|
|
|
$ 3,434,790 |
|
Containers & Packaging — 0.3% | |||
|
Clydesdale Acquisition Holdings, Inc., 8.75%,
4/15/30(1)
|
|
1,847 |
$ 1,766,857 |
|
|
|
|
$ 1,766,857 |
|
Containers and Glass Products — 0.5% | |||
|
Ardagh Group SA, 9.50%, 12/1/30(1)
|
|
950 |
$ 1,007,454 |
|
Ardagh Metal Packaging Finance USA LLC/Ardagh
Metal Packaging Finance PLC: |
|
|
|
|
3.00%, 9/1/29(9)
|
EUR |
580 |
648,168 |
|
3.25%, 9/1/28(1)
|
|
430 |
413,609 |
|
5.00%, 1/30/31(9)
|
EUR |
415 |
481,793 |
|
6.25%, 1/30/31(1)
|
|
200 |
201,504 |
|
|
|
|
$ 2,752,528 |
|
Cosmetics & Personal Care — 0.1% | |||
|
Opal Bidco SAS, 5.50%, 3/31/32(1)
|
EUR |
490 |
$ 579,178 |
|
|
|
|
$ 579,178 |
|
Distribution & Wholesale — 0.3% | |||
|
Windsor Holdings III LLC, 8.50%, 6/15/30(1)
|
|
1,052 |
$ 1,095,876 |
|
Wolseley Group Finco PLC, 9.75%, 1/31/31(9)
|
GBP |
280 |
351,264 |
|
|
|
|
$ 1,447,140 |
|
Diversified Financial Services — 1.4% | |||
|
Azorra Finance Ltd., 7.25%, 1/15/31(1)
|
|
465 |
$ 479,304 |
|
CI Financial Corp., 4.10%, 6/15/51 |
|
250 |
163,255 |
|
Hightower Holding LLC, 9.125%, 1/31/30(1)
|
|
815 |
848,640 |
|
Phoenix Aviation Capital Ltd., 9.25%, 7/15/30(1)
|
|
566 |
586,470 |
|
Security |
Principal
Amount*
(000's omitted) |
Value | |
|
Diversified Financial Services (continued) | |||
|
Rocket Cos., Inc.: |
|
|
|
|
6.125%, 8/1/30(1)
|
|
435 |
$ 438,764 |
|
6.125%, 8/1/31(1)
|
|
220 |
221,124 |
|
6.375%, 8/1/33(1)
|
|
650 |
654,675 |
|
6.50%, 6/15/34(1)
|
|
145 |
146,327 |
|
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer,
Inc.: |
|
|
|
|
3.625%, 3/1/29(1)
|
|
1,022 |
978,183 |
|
4.00%, 10/15/33(1)
|
|
65 |
57,450 |
|
Sherwood Financing PLC, 7.625%, 12/15/29(9)
|
EUR |
720 |
847,021 |
|
Stonebriar ABF Issuer LLC: |
|
|
|
|
7.00%, 8/15/31(1)
|
|
140 |
140,180 |
|
8.125%, 12/15/30(1)
|
|
615 |
640,691 |
|
United Wholesale Mortgage LLC, 5.50%, 4/15/29(1)
|
|
155 |
144,886 |
|
UWM Holdings LLC: |
|
|
|
|
6.25%, 3/15/31(1)
|
|
604 |
539,482 |
|
6.625%, 2/1/30(1)
|
|
168 |
155,967 |
|
WS Escrow LLC, 7.75%, 6/1/33(1)
|
|
220 |
227,758 |
|
|
|
|
$ 7,270,177 |
|
Diversified Telecommunication Services — 0.5% | |||
|
Level 3 Financing, Inc., 7.00%, 3/31/34(1)
|
|
194 |
$ 197,341 |
|
Virgin Media Secured Finance PLC: |
|
|
|
|
4.125%, 8/15/30(9)
|
GBP |
1,005 |
1,145,758 |
|
4.25%, 1/15/30(9)
|
GBP |
896 |
1,033,538 |
|
|
|
|
$ 2,376,637 |
|
Drugs — 0.3% | |||
|
Endo Finance Holdings LP, 8.50%, 4/15/31(1)
|
|
264 |
$ 278,202 |
|
Perrigo Finance Unlimited Co.: |
|
|
|
|
4.90%, 12/15/44 |
|
406 |
295,007 |
|
5.375%, 9/30/32 |
EUR |
880 |
988,502 |
|
|
|
|
$ 1,561,711 |
|
Ecological Services and Equipment — 0.6% | |||
|
Biffa Group Holdings Ltd.: |
|
|
|
|
5.25%, 6/15/31(9)
|
EUR |
800 |
$ 917,826 |
|
7.375%, 6/15/31(9)
|
GBP |
470 |
637,940 |
|
Luna 25 SARL, 5.50%, 7/1/32(9)
|
EUR |
1,050 |
1,220,369 |
|
|
|
|
$ 2,776,135 |
|
Electric — 0.4% | |||
|
Clearway Energy Operating LLC, 3.75%, 2/15/31(1)
|
|
369 |
$ 338,688 |
|
VoltaGrid LLC, 7.375%, 11/1/30(1)
|
|
1,007 |
1,012,605 |
|
Security |
Principal
Amount*
(000's omitted) |
Value | |
|
Electric (continued) | |||
|
XPLR Infrastructure Operating Partners LP: |
|
|
|
|
8.375%, 1/15/31(1)
|
|
411 |
$ 437,023 |
|
8.625%, 3/15/33(1)
|
|
303 |
323,890 |
|
|
|
|
$ 2,112,206 |
|
Electric Utilities — 1.0% | |||
|
Alpha Generation LLC, 6.75%, 10/15/32(1)
|
|
1,243 |
$ 1,254,595 |
|
California Buyer Ltd./Atlantica Sustainable
Infrastructure PLC: |
|
|
|
|
5.625%, 2/15/32(1)
|
EUR |
895 |
1,048,005 |
|
6.375%, 2/15/32(1)
|
|
465 |
458,829 |
|
TransAlta Corp., 5.875%, 2/1/34 |
|
545 |
531,594 |
|
WESCO Distribution, Inc.: |
|
|
|
|
5.25%, 4/15/31(1)
|
|
115 |
113,372 |
|
6.375%, 3/15/33(1)
|
|
390 |
396,875 |
|
6.625%, 3/15/32(1)
|
|
610 |
623,102 |
|
XPLR Infrastructure Operating Partners LP, 7.75%,
4/15/34(1)
|
|
355 |
371,968 |
|
|
|
|
$ 4,798,340 |
|
Electrical Equipment — 0.2% | |||
|
Dynamo Newco II GmbH, 6.25%, 10/15/31(9)
|
EUR |
780 |
$ 840,397 |
|
|
|
|
$ 840,397 |
|
Energy — 0.7% | |||
|
Sunoco LP: |
|
|
|
|
4.50%, 10/1/29(1)
|
|
480 |
$ 465,160 |
|
5.875%, 3/15/34(1)
|
|
365 |
357,478 |
|
7.875% to 9/18/30(1)(12)(13)
|
|
2,335 |
2,395,028 |
|
Sunoco LP/Sunoco Finance Corp., 4.50%, 4/30/30 |
|
372 |
359,078 |
|
|
|
|
$ 3,576,744 |
|
Engineering & Construction — 0.6% | |||
|
Arcosa, Inc., 6.875%, 8/15/32(1)
|
|
552 |
$ 569,635 |
|
Artera Services LLC, 8.50%, 2/15/31(1)
|
|
550 |
501,344 |
|
Egis SA, 5.125%, 5/15/31(9)
|
EUR |
660 |
774,495 |
|
Infrastrutture Wireless Italiane SpA: |
|
|
|
|
1.75%, 4/19/31(9)
|
EUR |
235 |
243,567 |
|
3.625%, 10/13/32(9)
|
EUR |
320 |
347,670 |
|
OHL Operaciones SA, 9.75%, (5.10% cash and
4.65% PIK), 12/31/29(9)
|
EUR |
462 |
503,695 |
|
VM Consolidated, Inc., 5.50%, 4/15/29(1)
|
|
198 |
185,286 |
|
|
|
|
$ 3,125,692 |
|
Security |
Principal
Amount*
(000's omitted) |
Value | |
|
Entertainment — 2.2% | |||
|
Allwyn Entertainment Financing U.K. PLC: |
|
|
|
|
4.125%, 2/15/31(1)
|
EUR |
1,220 |
$ 1,384,472 |
|
7.25%, 4/30/30(9)
|
EUR |
942 |
1,130,811 |
|
Banijay Gaming SAS, 5.125%, 12/10/31(9)
|
EUR |
850 |
993,561 |
|
Brightstar Lottery PLC/Brightstar Global Solutions
Corp., 5.75%, 1/15/33(1)
|
|
745 |
719,306 |
|
CPUK Finance Ltd.: |
|
|
|
|
6.875%, 8/28/32(9)
|
GBP |
190 |
257,997 |
|
7.875%, 8/28/29(9)
|
GBP |
825 |
1,148,360 |
|
Discovery Global Holdings, Inc.: |
|
|
|
|
4.302%, 1/17/30 |
EUR |
105 |
121,256 |
|
5.05%, 3/15/42 |
|
311 |
216,923 |
|
Flutter Treasury DAC: |
|
|
|
|
5.00%, 4/29/29(9)
|
EUR |
800 |
939,979 |
|
5.875%, 6/4/31(1)
|
|
633 |
623,867 |
|
Intralot Capital Luxembourg SA, 6.75%, 10/15/31(9)
|
EUR |
825 |
968,470 |
|
Mohegan Tribal Gaming Authority/MS Digital
Entertainment Holdings LLC, 8.25%, 4/15/30(1)
|
|
684 |
711,807 |
|
Motion Bondco DAC, 6.625%, 11/15/27(1)
|
|
280 |
265,979 |
|
Speedway Motorsports LLC/Speedway Funding II, Inc.,
4.875%, 11/1/27(1)
|
|
497 |
494,417 |
|
Voyager Parent LLC, 9.25%, 7/1/32(1)
|
|
1,130 |
1,201,193 |
|
|
|
|
$ 11,178,398 |
|
Financial Intermediaries — 0.1% | |||
|
Compass Group Diversified Holdings LLC, 5.25%,
4/15/29(1)
|
|
604 |
$ 575,794 |
|
|
|
|
$ 575,794 |
|
Food Products — 0.6% | |||
|
Chobani LLC/Chobani Finance Corp., Inc., 6.375%,
4/15/34(1)
|
|
535 |
$ 536,823 |
|
Froneri Lux FinCo SARL, 4.75%, 8/1/32(9)
|
EUR |
675 |
756,541 |
|
La Doria SpA, 5.82%, (3 mo. EURIBOR + 3.375%),
12/30/30(2)(9)
|
EUR |
700 |
816,022 |
|
Nomad Foods Bondco PLC, 5.25%, 7/15/33(9)
|
EUR |
615 |
708,940 |
|
|
|
|
$ 2,818,326 |
|
Food Service — 0.5% | |||
|
1011778 BC ULC/New Red Finance, Inc.: |
|
|
|
|
3.875%, 1/15/28(1)
|
|
980 |
$ 960,829 |
|
4.00%, 10/15/30(1)
|
|
293 |
275,510 |
|
TKC Holdings, Inc.: |
|
|
|
|
8.50%, 8/15/30(1)
|
|
925 |
946,135 |
|
Security |
Principal
Amount*
(000's omitted) |
Value | |
|
Food Service (continued) | |||
|
TKC Holdings, Inc.: (continued) |
|
|
|
|
12.00%, 2/15/31(1)
|
|
110 |
$ 116,346 |
|
|
|
|
$ 2,298,820 |
|
Health Care — 1.2% | |||
|
Acadia Healthcare Co., Inc.: |
|
|
|
|
5.00%, 4/15/29(1)
|
|
257 |
$ 252,434 |
|
7.375%, 3/15/33(1)
|
|
257 |
265,352 |
|
Bausch & Lomb Netherlands BV & Bausch & Lomb,
Inc., 6.306%, (3 mo. EURIBOR + 3.875%),
1/15/31(2)(9)
|
EUR |
815 |
949,901 |
|
Fortrea Holdings, Inc., 7.50%, 7/1/30(1)
|
|
600 |
611,450 |
|
Global Medical Response, Inc., 7.375%, 10/1/32(1)
|
|
693 |
705,752 |
|
LifePoint Health, Inc.: |
|
|
|
|
5.375%, 1/15/29(1)
|
|
442 |
419,766 |
|
10.00%, 6/1/32(1)
|
|
140 |
134,585 |
|
Team Health Holdings, Inc.: |
|
|
|
|
8.375%, 6/30/28(1)
|
|
373 |
373,060 |
|
13.50%, (9.00% cash and 4.50% PIK), 6/30/28(1)
|
|
1,097 |
1,121,335 |
|
TEAM Services Holding, Inc., 9.00%, 2/15/33(1)
|
|
325 |
329,359 |
|
U.S. Acute Care Solutions LLC, 9.75%, 5/15/29(1)
|
|
835 |
779,296 |
|
|
|
|
$ 5,942,290 |
|
Health Care Providers & Services — 0.3% | |||
|
National Mentor Holdings, Inc., 10.50%, 12/15/30(1)
|
|
620 |
$ 654,415 |
|
Surgery Center Holdings, Inc., 7.25%, 4/15/32(1)
|
|
805 |
808,513 |
|
|
|
|
$ 1,462,928 |
|
Health Care Technology — 0.5% | |||
|
athenahealth Group, Inc.: |
|
|
|
|
6.50%, 2/15/30(1)
|
|
2,390 |
$ 2,306,559 |
|
7.50%, 2/15/32(1)
|
|
187 |
191,950 |
|
|
|
|
$ 2,498,509 |
|
Healthcare Services — 0.1% | |||
|
HomeVi SASU: |
|
|
|
|
6.625%, 10/31/31(1)
|
EUR |
250 |
$ 291,258 |
|
6.625%, 10/31/31(9)
|
EUR |
340 |
396,110 |
|
|
|
|
$ 687,368 |
|
Home Furnishings — 0.2% | |||
|
Somnigroup International, Inc., 3.875%, 10/15/31(1)
|
|
1,122 |
$ 1,023,376 |
|
|
|
|
$ 1,023,376 |
|
Security |
Principal
Amount*
(000's omitted) |
Value | |
|
Homebuilders/Real Estate — 0.2% | |||
|
Risewell Homes, Inc.: |
|
|
|
|
8.50%, 11/1/30(1)
|
|
496 |
$ 506,546 |
|
9.25%, 10/1/29(1)
|
|
672 |
681,979 |
|
|
|
|
$ 1,188,525 |
|
Independent Power and Renewable Electricity Producers — 0.2% | |||
|
Talen Energy Supply LLC, 6.125%, 5/1/31(1)
|
|
845 |
$ 840,364 |
|
|
|
|
$ 840,364 |
|
Insurance — 1.2% | |||
|
Amynta Agency Borrower, Inc. & Amynta Warranty
Borrower, Inc., 7.50%, 7/15/33(1)
|
|
585 |
$ 572,247 |
|
APH Somerset Investor 2 LLC/APH2 Somerset Investor
2 LLC/APH3 Somerset Investor 2 LLC, 7.875%,
11/1/29(1)
|
|
746 |
756,119 |
|
Asurion LLC/Asurion Co-Issuer, Inc.: |
|
|
|
|
8.00%, 12/31/32(1)
|
|
564 |
571,014 |
|
8.375%, 2/1/34(1)
|
|
75 |
68,392 |
|
CRC Insurance Group LLC, 7.125%, 6/1/31(1)
|
|
519 |
518,279 |
|
Fidus Re Ltd., 6.263%, (1 mo. U.S. T-Bill Rate +
2.50%), 1/8/42(1)(2)
|
|
2,295 |
2,278,381 |
|
Galaxy Bidco Ltd., 8.125%, 12/19/29(9)
|
GBP |
440 |
614,027 |
|
Ryan Specialty LLC, 5.875%, 8/1/32(1)
|
|
725 |
715,480 |
|
|
|
|
$ 6,093,939 |
|
Internet Software & Services — 0.4% | |||
|
Arches Buyer, Inc., 6.125%, 12/1/28(1)
|
|
582 |
$ 569,440 |
|
Match Group Holdings II LLC, 3.625%, 10/1/31(1)
|
|
648 |
579,016 |
|
United Group BV: |
|
|
|
|
6.50%, 10/31/31(9)
|
EUR |
400 |
472,932 |
|
6.75%, 2/15/31(9)
|
EUR |
200 |
237,619 |
|
|
|
|
$ 1,859,007 |
|
Leisure Goods/Activities/Movies — 0.6% | |||
|
Acushnet Co., 5.625%, 12/1/33(1)
|
|
482 |
$ 473,801 |
|
LHMC Finco 2 SARL: |
|
|
|
|
8.625%, (8.625% cash or 9.375% PIK),
5/15/30(1)(10)
|
EUR |
733 |
874,564 |
|
8.625%, (8.625% cash or 9.375% PIK),
5/15/30(9)(10)
|
EUR |
470 |
560,597 |
|
NCL Corp. Ltd., 6.75%, 2/1/32(1)
|
|
405 |
397,284 |
|
Patrick Industries, Inc., 6.375%, 11/1/32(1)
|
|
519 |
512,715 |
|
|
|
|
$ 2,818,961 |
|
Security |
Principal
Amount*
(000's omitted) |
Value | |
|
Leisure Time — 0.1% | |||
|
Gaia Purchaser, Inc., 7.625%, 7/15/33(1)
|
|
710 |
$ 712,556 |
|
|
|
|
$ 712,556 |
|
Lodging and Casinos — 0.2% | |||
|
Arsenale SpA, 9.291%, (3 mo. EURIBOR + 7.00%),
6/28/30(2)(9)
|
EUR |
400 |
$ 455,109 |
|
Genting New York LLC/GENNY Capital, Inc., 7.25%,
10/1/29(1)
|
|
474 |
485,243 |
|
|
|
|
$ 940,352 |
|
Machinery — 0.5% | |||
|
IMA Industria Macchine Automatiche SpA, 6.181%,
(3 mo. EURIBOR + 3.75%), 4/15/29(2)(9)
|
EUR |
915 |
$ 1,066,183 |
|
King U.S. Bidco, Inc., 5.681%, 12/1/32(1)(2)
|
EUR |
1,060 |
1,237,859 |
|
Solaris Energy Infrastructure LLC, 6.375%, 5/15/31(1)
|
|
220 |
216,228 |
|
|
|
|
$ 2,520,270 |
|
Media — 1.2% | |||
|
Charter Communications Operating LLC/Charter
Communications Operating Capital: |
|
|
|
|
3.70%, 4/1/51 |
|
525 |
$ 310,632 |
|
3.90%, 6/1/52 |
|
310 |
186,369 |
|
CSC Holdings LLC: |
|
|
|
|
3.375%, 2/15/31(1)
|
|
374 |
208,490 |
|
4.125%, 12/1/30(1)
|
|
373 |
208,938 |
|
11.75%, 1/31/29(1)
|
|
395 |
226,348 |
|
Gray Media, Inc., 4.75%, 10/15/30(1)
|
|
181 |
140,056 |
|
Nexstar Media, Inc.: |
|
|
|
|
4.75%, 11/1/28(1)
|
|
375 |
367,940 |
|
6.50%, 9/15/33(1)
|
|
505 |
502,851 |
|
7.25%, 4/15/34(1)
|
|
455 |
456,393 |
|
Outfront Media Capital LLC/Outfront Media Capital
Corp., 4.625%, 3/15/30(1)
|
|
946 |
914,316 |
|
Sinclair Television Group, Inc., 8.125%, 2/15/33(1)
|
|
669 |
686,878 |
|
Summer BidCo BV, 8.875% PIK, 1/31/31(1)
|
EUR |
555 |
657,400 |
|
Univision Communications, Inc.: |
|
|
|
|
8.50%, 7/31/31(1)
|
|
150 |
149,777 |
|
8.875%, 4/15/33(1)
|
|
145 |
140,501 |
|
9.375%, 8/1/32(1)
|
|
451 |
450,799 |
|
Versant Media Group, Inc., 7.25%, 1/30/31(1)
|
|
495 |
510,656 |
|
|
|
|
$ 6,118,344 |
|
Metals/Mining — 0.6% | |||
|
Arsenal AIC Parent LLC, 11.50%, 10/1/31(1)
|
|
962 |
$ 1,024,756 |
|
Security |
Principal
Amount*
(000's omitted) |
Value | |
|
Metals/Mining (continued) | |||
|
Compass Minerals International, Inc., 8.00%,
7/1/30(1)
|
|
567 |
$ 592,647 |
|
First Quantum Minerals Ltd.: |
|
|
|
|
6.375%, 2/15/36(1)
|
|
210 |
203,342 |
|
7.25%, 2/15/34(1)
|
|
250 |
254,846 |
|
8.00%, 3/1/33(1)
|
|
285 |
296,488 |
|
WE Soda Investments Holding PLC: |
|
|
|
|
9.375%, 2/14/31(1)
|
|
300 |
292,260 |
|
9.50%, 10/6/28(1)
|
|
300 |
301,959 |
|
|
|
|
$ 2,966,298 |
|
Nonferrous Metals/Minerals — 0.1% | |||
|
Eldorado Gold Corp., 6.25%, 9/1/29(1)
|
|
690 |
$ 689,898 |
|
|
|
|
$ 689,898 |
|
Oil and Gas — 1.1% | |||
|
Aethon United BR LP/Aethon United Finance Corp.,
7.50%, 10/1/29(1)
|
|
456 |
$ 473,321 |
|
Archrock Services LP/Archrock Partners Finance
Corp., 6.00%, 2/1/34(1)
|
|
170 |
166,454 |
|
Comstock Resources, Inc.: |
|
|
|
|
5.875%, 1/15/30(1)
|
|
255 |
240,413 |
|
6.75%, 3/1/29(1)
|
|
125 |
123,167 |
|
Crescent Energy Finance LLC: |
|
|
|
|
7.875%, 4/15/32(1)
|
|
250 |
254,731 |
|
9.75%, 10/15/30(1)
|
|
215 |
227,673 |
|
DBR Land Holdings LLC, 6.25%, 12/1/30(1)
|
|
477 |
481,417 |
|
Matador Resources Co., 6.00%, 4/15/34(1)
|
|
295 |
285,448 |
|
Noble Finance II LLC, 6.25%, 6/15/34(1)
|
|
270 |
262,344 |
|
SM Energy Co., 8.625%, 11/1/30(1)
|
|
823 |
864,313 |
|
Transocean International Ltd.: |
|
|
|
|
7.875%, 10/15/32(1)
|
|
75 |
78,166 |
|
8.25%, 5/15/29(1)
|
|
579 |
597,265 |
|
8.75%, 2/15/30(1)
|
|
152 |
157,838 |
|
UGI International LLC, 5.00%, 6/1/31(9)
|
EUR |
370 |
435,831 |
|
WBI Operating LLC: |
|
|
|
|
6.25%, 10/15/30(1)
|
|
755 |
755,287 |
|
6.50%, 10/15/33(1)
|
|
245 |
244,713 |
|
|
|
|
$ 5,648,381 |
|
Packaging & Containers — 0.7% | |||
|
Constantia Flexibles GmbH: |
|
|
|
|
6.25%, 7/15/32(1)
|
EUR |
185 |
$ 214,369 |
|
6.25%, 7/15/32(9)
|
EUR |
455 |
527,233 |
|
Fiber Midco SpA, 10.75% PIK, 6/15/29(9)(10)
|
EUR |
950 |
1,066,473 |
|
Security |
Principal
Amount*
(000's omitted) |
Value | |
|
Packaging & Containers (continued) | |||
|
Sword Purchaser LLC, 8.25%, 4/15/33(1)
|
|
795 |
$ 813,563 |
|
Toucan FinCo Ltd./Toucan FinCo Can, Inc./Toucan
FinCo U.S. LLC: |
|
|
|
|
8.25%, 5/15/30(1)
|
EUR |
450 |
464,834 |
|
9.50%, 5/15/30(1)
|
|
347 |
313,762 |
|
|
|
|
$ 3,400,234 |
|
Pharmaceuticals — 1.2% | |||
|
1261229 B.C. Ltd., 10.00%, 4/15/32(1)
|
|
1,215 |
$ 1,243,022 |
|
Amneal Pharmaceuticals LLC, 6.875%, 8/1/32(1)
|
|
282 |
290,106 |
|
Grifols SA, 7.50%, 5/1/30(9)
|
EUR |
772 |
926,869 |
|
Nidda Healthcare Holding GmbH: |
|
|
|
|
5.533%, (3 mo. EURIBOR + 3.25%),
10/15/32(1)(2)
|
EUR |
315 |
363,251 |
|
5.533%, (3 mo. EURIBOR + 3.25%),
10/15/32(2)(9)
|
EUR |
311 |
358,638 |
|
P&L Development LLC/PLD Finance Corp., 12.00%,
(12.00% cash or 9.00% cash and 3.50% PIK),
5/15/29(1)(10)
|
|
393 |
366,878 |
|
Rossini SARL, 6.75%, 12/31/29(9)
|
EUR |
555 |
663,982 |
|
Teva Pharmaceutical Finance Netherlands II BV: |
|
|
|
|
4.375%, 5/9/30 |
EUR |
286 |
333,629 |
|
7.875%, 9/15/31 |
EUR |
350 |
469,896 |
|
Teva Pharmaceutical Finance Netherlands III BV: |
|
|
|
|
4.10%, 10/1/46 |
|
1,078 |
795,188 |
|
6.00%, 12/1/32 |
|
375 |
382,192 |
|
|
|
|
$ 6,193,651 |
|
Pipelines — 0.9% | |||
|
Global Partners LP/GLP Finance Corp.: |
|
|
|
|
7.125%, 7/1/33(1)
|
|
612 |
$ 620,185 |
|
8.25%, 1/15/32(1)
|
|
649 |
676,923 |
|
Howard Midstream Energy Partners LLC: |
|
|
|
|
6.625%, 1/15/34(1)
|
|
65 |
65,763 |
|
6.625%, 1/15/35(1)
|
|
235 |
234,986 |
|
NGL Energy Operating LLC/NGL Energy Finance Corp.: |
|
|
|
|
8.125%, 2/15/29(1)
|
|
540 |
553,753 |
|
8.375%, 2/15/32(1)
|
|
152 |
158,126 |
|
Plains All American Pipeline LP, Series B, 8.023%,
(3 mo. SOFR + 4.372%)(2)(12)
|
|
926 |
926,042 |
|
Venture Global Calcasieu Pass LLC, 6.00%, 5/1/36(1)
|
|
305 |
301,587 |
|
Venture Global LNG, Inc.: |
|
|
|
|
6.625%, 6/15/36(1)
|
|
250 |
245,161 |
|
9.00% to 9/30/29(1)(12)(13)
|
|
749 |
746,472 |
|
9.875%, 2/1/32(1)
|
|
228 |
242,853 |
|
|
|
|
$ 4,771,851 |
|
Security |
Principal
Amount*
(000's omitted) |
Value | |
|
Publishing — 0.2% | |||
|
McGraw-Hill Education, Inc.: |
|
|
|
|
5.75%, 8/1/28(1)
|
|
326 |
$ 323,717 |
|
8.00%, 8/1/29(1)
|
|
472 |
468,513 |
|
|
|
|
$ 792,230 |
|
Real Estate Investment Trusts (REITs) — 0.8% | |||
|
Adler Financing SARL, 8.25% PIK, 12/31/28 |
EUR |
561 |
$ 735,434 |
|
Alexandrite Lake Lux Holdings SARL, 6.75%,
7/30/30(1)
|
EUR |
490 |
570,149 |
|
Alexandrite Monnet U.K. Holdco PLC, 6.875%,
5/31/31(9)
|
EUR |
760 |
892,375 |
|
alstria SARL, 4.25%, 10/15/29(9)
|
EUR |
500 |
564,908 |
|
Cushman & Wakefield U.S. Borrower LLC, 6.75%,
5/15/28(1)
|
|
149 |
149,456 |
|
Essendi SA, 6.375%, 10/15/29(9)
|
EUR |
1,050 |
1,256,176 |
|
|
|
|
$ 4,168,498 |
|
Real Estate Management & Development — 0.1% | |||
|
Cushman & Wakefield U.S. Borrower LLC, 8.875%,
9/1/31(1)
|
|
594 |
$ 621,655 |
|
|
|
|
$ 621,655 |
|
Retail — 1.5% | |||
|
B&M European Value Retail PLC, 4.00%, 11/15/28(9)
|
GBP |
200 |
$ 264,792 |
|
Boots Group Finco LP: |
|
|
|
|
5.375%, 8/31/32(9)
|
EUR |
220 |
259,416 |
|
7.375%, 8/31/32(9)
|
GBP |
470 |
648,838 |
|
CD&R Firefly Bidco PLC, 8.625%, 4/30/29(9)
|
GBP |
860 |
1,195,211 |
|
Cougar JV Subsidiary LLC, 8.00%, 5/15/32(1)
|
|
594 |
621,642 |
|
Ferrellgas LP/Ferrellgas Finance Corp.: |
|
|
|
|
5.875%, 4/1/29(1)
|
|
602 |
587,753 |
|
9.25%, 1/15/31(1)
|
|
210 |
220,987 |
|
Global Auto Holdings Ltd./AAG FH U.K. Ltd., 8.375%,
1/15/29(1)
|
|
259 |
257,185 |
|
Men's Wearhouse LLC, 9.00%, 2/1/31(1)
|
|
180 |
192,070 |
|
Molins Finance SA, 5.50%, 6/15/33(9)
|
EUR |
340 |
406,976 |
|
Park River Holdings, Inc.: |
|
|
|
|
8.00%, 3/15/31(1)
|
|
453 |
451,316 |
|
8.75%, 12/31/30(1)
|
|
228 |
210,806 |
|
PetSmart LLC/PetSmart Finance Corp.: |
|
|
|
|
7.50%, 9/15/32(1)
|
|
500 |
505,604 |
|
10.00%, 9/15/33(1)
|
|
250 |
248,922 |
|
QXO Building Products, Inc.: |
|
|
|
|
6.50%, 7/15/31(1)
|
|
105 |
105,523 |
|
6.875%, 7/15/34(1)
|
|
240 |
240,541 |
|
Security |
Principal
Amount*
(000's omitted) |
Value | |
|
Retail (continued) | |||
|
Waga Bondco Ltd., 8.50%, 6/15/30(9)
|
GBP |
405 |
$ 449,739 |
|
White Cap Supply Holdings LLC, 7.375%, 11/15/30(1)
|
|
594 |
598,928 |
|
|
|
|
$ 7,466,249 |
|
Retailers (Except Food and Drug) — 0.4% | |||
|
Bath & Body Works, Inc., 6.875%, 11/1/35 |
|
410 |
$ 414,880 |
|
Michaels Cos., Inc., 8.50%, 3/15/33(1)
|
|
715 |
708,795 |
|
Superior Plus LP/Superior General Partner, Inc.,
4.50%, 3/15/29(1)
|
|
737 |
711,784 |
|
|
|
|
$ 1,835,459 |
|
Software — 1.1% | |||
|
Clarivate Science Holdings Corp., 4.875%, 7/1/29(1)
|
|
429 |
$ 395,446 |
|
Cloud Software Group LLC: |
|
|
|
|
6.50%, 3/31/29(1)
|
|
610 |
596,591 |
|
9.00%, 9/30/29(1)
|
|
1,930 |
1,892,677 |
|
OAK-Eagle Acquireco, Inc.: |
|
|
|
|
6.25%, 7/1/33(1)
|
EUR |
400 |
483,243 |
|
7.25%, 7/1/33(1)
|
|
465 |
482,188 |
|
8.75%, 7/1/34(1)
|
|
868 |
914,952 |
|
TeamSystem SpA: |
|
|
|
|
5.931%, (3 mo. EURIBOR + 3.50%), 7/31/31(1)(2)
|
EUR |
579 |
664,727 |
|
6.50%, 7/1/32(1)
|
EUR |
180 |
206,302 |
|
|
|
|
$ 5,636,126 |
|
Steel — 0.5% | |||
|
Cleveland-Cliffs, Inc.: |
|
|
|
|
7.375%, 5/1/33(1)
|
|
565 |
$ 571,546 |
|
7.50%, 9/15/31(1)
|
|
585 |
597,444 |
|
7.625%, 1/15/34(1)
|
|
240 |
243,042 |
|
Commercial Metals Co.: |
|
|
|
|
5.75%, 11/15/33(1)
|
|
235 |
230,968 |
|
6.00%, 12/15/35(1)
|
|
235 |
231,131 |
|
TMS International Corp., 6.25%, 4/15/29(1)
|
|
878 |
878,264 |
|
|
|
|
$ 2,752,395 |
|
Telecommunications — 2.7% | |||
|
APLD ComputeCo 2 LLC, 6.75%, 3/15/31(1)
|
|
850 |
$ 831,737 |
|
APLD ComputeCo 3 LLC, 7.00%, 6/15/31(1)
|
|
480 |
468,732 |
|
APLD ComputeCo LLC, 9.25%, 12/15/30(1)
|
|
315 |
335,017 |
|
Black Pearl Compute LLC, 6.125%, 2/15/31(1)
|
|
400 |
399,830 |
|
Cipher Compute LLC, 7.125%, 11/15/30(1)
|
|
505 |
515,737 |
|
Core Scientific Finance I LLC, 7.75%, 5/15/31(1)
|
|
437 |
428,450 |
|
EchoStar Corp., 10.75%, 11/30/29 |
|
904 |
978,033 |
|
Security |
Principal
Amount*
(000's omitted) |
Value | |
|
Telecommunications (continued) | |||
|
Eutelsat SA, 1.50%, 10/13/28(9)
|
EUR |
500 |
$ 555,650 |
|
Fibercop SpA: |
|
|
|
|
4.75%, 6/30/30(9)
|
EUR |
300 |
350,291 |
|
5.125%, 6/30/32(9)
|
EUR |
220 |
259,151 |
|
7.20%, 7/18/36(1)
|
|
817 |
831,240 |
|
Iliad Holding SAS: |
|
|
|
|
5.375%, 4/15/30(9)
|
EUR |
495 |
583,414 |
|
5.625%, 10/15/28(9)
|
EUR |
410 |
474,357 |
|
6.875%, 4/15/31(9)
|
EUR |
340 |
410,954 |
|
Odido Group Holding BV, 5.50%, 1/15/30(9)
|
EUR |
600 |
692,497 |
|
Sable International Finance Ltd., 7.125%, 10/15/32(1)
|
|
262 |
259,066 |
|
Stagwell Global LLC, 5.625%, 8/15/29(1)
|
|
377 |
366,943 |
|
Stingray Compute LLC, 6.00%, 6/15/31(1)
|
|
365 |
356,542 |
|
Uniti Group LP/Uniti Group Finance 2019, Inc./CSL
Capital LLC: |
|
|
|
|
8.625%, 6/15/32(1)
|
|
510 |
521,351 |
|
8.625%, 6/15/32(1)
|
|
225 |
230,008 |
|
Uniti Services LLC, 7.50%, 10/15/33(1)
|
|
1,642 |
1,679,553 |
|
Vodafone Group PLC, 8.00% to 5/30/31, 8/30/86(9)(13)
|
GBP |
200 |
286,871 |
|
Windstream Services LLC/Windstream Escrow Finance
Corp., 8.25%, 10/1/31(1)
|
|
100 |
104,159 |
|
WULF Compute LLC, 7.75%, 10/15/30(1)
|
|
321 |
333,796 |
|
Zegona Finance PLC, 4.25%, 1/15/32(9)
|
EUR |
400 |
458,630 |
|
Zenita Group SpA, 7.541%, 12/31/32(2)(9)
|
EUR |
640 |
652,129 |
|
|
|
|
$ 13,364,138 |
|
Trading Companies & Distributors — 0.0%† | |||
|
Core & Main LP, 6.00%, 7/1/34(1)
|
|
115 |
$ 114,463 |
|
|
|
|
$ 114,463 |
|
Transportation — 0.8% | |||
|
Edge Finco PLC, 8.125%, 8/15/31(9)
|
GBP |
1,294 |
$ 1,816,024 |
|
InPost SA, 4.00%, 4/1/31(9)
|
EUR |
325 |
369,337 |
|
Ocado Group PLC, 11.00%, 6/15/30(9)
|
GBP |
165 |
232,395 |
|
Seaspan Corp. Pte. Ltd., 5.50%, 8/1/29(1)
|
|
923 |
897,505 |
|
Watco Cos. LLC/Watco Finance Corp., 7.125%,
8/1/32(1)
|
|
740 |
759,020 |
|
|
|
|
$ 4,074,281 |
|
Utilities — 1.0% | |||
|
Leeward Renewable Energy Operations LLC, 4.25%,
7/1/29(1)
|
|
411 |
$ 390,270 |
|
NRG Energy, Inc.: |
|
|
|
|
3.875%, 2/15/32(1)
|
|
118 |
108,011 |
|
5.75%, 1/15/34(1)
|
|
759 |
739,697 |
|
Security |
Principal
Amount*
(000's omitted) |
Value | |
|
Utilities (continued) | |||
|
NRG Energy, Inc.: (continued) |
|
|
|
|
6.00%, 2/1/33(1)
|
|
505 |
$ 503,787 |
|
6.00%, 1/15/36(1)
|
|
1,150 |
1,125,787 |
|
6.125%, 5/15/36(1)
|
|
360 |
355,552 |
|
6.25%, 11/1/34(1)
|
|
335 |
334,308 |
|
10.25% to 3/15/28(1)(12)(13)
|
|
635 |
679,902 |
|
TerraForm Power Operating LLC: |
|
|
|
|
4.75%, 1/15/30(1)
|
|
460 |
440,197 |
|
5.00%, 1/31/28(1)
|
|
450 |
445,470 |
|
|
|
|
$ 5,122,981 |
|
Total Corporate Bonds
(identified cost $209,331,577) |
|
|
$210,623,848 |
|
Preferred Stocks — 0.0%†
|
|
Security |
Shares |
Value | |
|
Software and Services — 0.0%† | |||
|
Blackboard LLC, Series A(5)(6)(7)
|
|
3,932 |
$ 71,484 |
|
|
|
|
$ 71,484 |
|
Technology — 0.0%† | |||
|
Cohesity Global, Inc.: |
|
|
|
|
Series G(5)
|
|
2,137 |
$ 45,945 |
|
Series G1(5)
|
|
1,477 |
31,756 |
|
|
|
|
$ 77,701 |
|
Total Preferred Stocks
(identified cost $146,397) |
|
|
$ 149,185 |
|
Senior Floating-Rate Loans — 32.9%(14)
|
|
Borrower/Description |
Principal
Amount*
(000's omitted) |
Value | |
|
Aerospace and Defense — 0.7% | |||
|
Air Comm Corp. LLC: |
|
|
|
|
Term Loan, 12/11/31(15)
|
|
623 |
$ 624,218 |
|
Term Loan, 12/11/31(15)
|
|
22 |
21,792 |
|
HDI Aerospace Intermediate Holding III Corp., Term
Loan, 7.118%, (6 mo. USD Term SOFR + 3.25%),
2/11/32 |
|
249 |
250,199 |
|
Kaman Corp.: |
|
|
|
|
Term Loan, 5.671%, (3 mo. USD Term SOFR +
2.00%), 2/26/32 |
|
308 |
307,990 |
|
Borrower/Description |
Principal
Amount*
(000's omitted) |
Value | |
|
Aerospace and Defense (continued) | |||
|
Kaman Corp.: (continued) |
|
|
|
|
Term Loan, 2/26/32(15)(16)
|
|
36 |
$ 35,724 |
|
TransDigm, Inc., Term Loan, 6.231%, (1 mo. USD Term
SOFR + 2.50%), 2/28/31 |
|
1,849 |
1,853,270 |
|
VistaJet Malta Finance PLC, Term Loan, 7.475%,
(3 mo. USD Term SOFR + 3.75%), 4/1/31 |
|
571 |
573,066 |
|
|
|
|
$ 3,666,259 |
|
Airlines — 0.2% | |||
|
American Airlines, Inc., Term Loan, 5.979%, (3 mo.
USD Term SOFR + 2.25%), 4/20/28 |
|
963 |
$ 963,843 |
|
|
|
|
$ 963,843 |
|
Apparel & Luxury Goods — 0.3% | |||
|
Beach Acquisition Bidco LLC, Term Loan, 6.481%,
(1 mo. USD Term SOFR + 2.75%), 9/12/32 |
|
703 |
$ 706,651 |
|
Gloves Buyer, Inc., Term Loan, 7.483%, (3 mo. USD
Term SOFR + 3.75%), 5/21/32 |
|
697 |
698,388 |
|
|
|
|
$ 1,405,039 |
|
Auto Components — 0.6% | |||
|
Adient U.S. LLC, Term Loan, 5.731%, (1 mo. USD Term
SOFR + 2.00%), 1/31/31 |
|
978 |
$ 979,157 |
|
Autokiniton U.S. Holdings, Inc., Term Loan, 7.845%,
(1 mo. USD Term SOFR + 4.00%), 4/6/28 |
|
265 |
265,447 |
|
Clarios Global LP, Term Loan, 6.231%, (1 mo. USD
Term SOFR + 2.50%), 5/6/30 |
|
1,059 |
1,062,651 |
|
Crash Champions LLC, Term Loan, 8.416%, (3 mo.
USD Term SOFR + 4.75%), 2/23/29 |
|
292 |
284,447 |
|
DexKo Global, Inc.: |
|
|
|
|
Term Loan, 8.323%, (3 mo. USD Term SOFR +
4.50%), 10/6/31 |
|
162 |
157,918 |
|
Term Loan, 8.823%, (3 mo. USD Term SOFR +
5.00%), 10/6/31 |
|
152 |
147,915 |
|
RealTruck Group, Inc.: |
|
|
|
|
Term Loan, 8.648%, (3 mo. USD Term SOFR +
4.75%), 1/31/31 |
|
299 |
179,215 |
|
Term Loan, 9.386%, (3 mo. USD Term SOFR +
5.75%), 1/31/31 |
|
68 |
69,670 |
|
|
|
|
$ 3,146,420 |
|
Automobiles — 0.1% | |||
|
Bombardier Recreational Products, Inc., Term Loan,
5.981%, (1 mo. USD Term SOFR + 2.25%),
1/22/31 |
|
264 |
$ 265,020 |
|
Borrower/Description |
Principal
Amount*
(000's omitted) |
Value | |
|
Automobiles (continued) | |||
|
MajorDrive Holdings IV LLC, Term Loan, 7.994%,
(3 mo. USD Term SOFR + 4.00%), 6/1/28 |
|
234 |
$ 225,122 |
|
|
|
|
$ 490,142 |
|
Beverages — 0.2% | |||
|
Pegasus BidCo BV, Term Loan, 7/12/32(15)
|
|
575 |
$ 576,725 |
|
Primo Brands Corp., Term Loan, 3/31/31(15)
|
|
650 |
653,409 |
|
|
|
|
$ 1,230,134 |
|
Biotechnology — 0.3% | |||
|
Alkermes, Inc., Term Loan, 6.482%, (3 mo. USD Term
SOFR + 2.75%), 8/12/31 |
|
399 |
$ 400,827 |
|
Alltech, Inc., Term Loan, 8.095%, (1 mo. USD Term
SOFR + 4.25%), 8/13/30 |
|
611 |
614,416 |
|
Grifols Worldwide Operations USA, Inc., Term Loan,
6.187%, (6 mo. USD Term SOFR + 2.50%),
4/14/33 |
|
549 |
550,370 |
|
|
|
|
$ 1,565,613 |
|
Broadline Retail — 0.1% | |||
|
Peer Holding III BV, Term Loan, 6.232%, (3 mo. USD
Term SOFR + 2.50%), 7/1/31 |
|
690 |
$ 691,827 |
|
|
|
|
$ 691,827 |
|
Building Products — 0.8% | |||
|
Associated Materials, Inc., Term Loan, 9.731%, (1 mo.
USD Term SOFR + 6.00%), 3/8/29 |
|
1,310 |
$ 1,197,213 |
|
CP Atlas Buyer, Inc., Term Loan, 8.981%, (1 mo. USD
Term SOFR + 5.25%), 7/8/30 |
|
623 |
543,306 |
|
Gibraltar Industries, Inc., Term Loan, 5.914% -
5.926%, (1 mo. USD Term SOFR + 2.25%),
2/2/33 |
|
388 |
389,190 |
|
LBM Acquisition LLC, Term Loan, 7.574%, (1 mo. USD
Term SOFR + 3.75%), 6/6/31 |
|
669 |
538,142 |
|
Specialty Building Products Holdings LLC, Term Loan,
7.581%, (1 mo. USD Term SOFR + 3.75%),
10/16/28 |
|
1,332 |
1,247,027 |
|
|
|
|
$ 3,914,878 |
|
Capital Markets — 1.5% | |||
|
AllSpring Buyer LLC, Term Loan, 6.75%, (3 mo. USD
Term SOFR + 3.00%), 11/1/30 |
|
595 |
$ 598,623 |
|
Edelman Financial Center LLC, Term Loan, 7.731%,
(1 mo. USD Term SOFR + 4.00%), 12/1/31 |
|
450 |
452,376 |
|
Focus Financial Partners LLC, Term Loan, 6.231%,
(1 mo. USD Term SOFR + 2.50%), 9/15/31 |
|
951 |
940,054 |
|
Borrower/Description |
Principal
Amount*
(000's omitted) |
Value | |
|
Capital Markets (continued) | |||
|
Fortress Intermediate 3, Inc., Term Loan, 6.675%,
(1 mo. USD Term SOFR + 3.00%), 6/27/31 |
|
1,532 |
$ 1,531,119 |
|
Franklin Square Holdings LP, Term Loan, 5.981%,
(1 mo. USD Term SOFR + 2.25%), 4/25/31 |
|
224 |
209,559 |
|
Guggenheim Partners LLC, Term Loan, 11/26/31(15)
|
|
375 |
367,969 |
|
HighTower Holdings LLC, Term Loan, 6.408%, (3 mo.
USD Term SOFR + 2.75%), 2/3/32 |
|
549 |
547,243 |
|
Jupiter Borrower, Inc., Term Loan, 6.482%, (3 mo. USD
Term SOFR + 2.75%), 6/30/33 |
|
500 |
503,645 |
|
Kestra Advisor Services Holdings A, Inc., Term Loan,
6.481%, (1 mo. USD Term SOFR + 2.75%),
3/22/31 |
|
269 |
267,962 |
|
Mariner Wealth Advisors LLC , Term Loan, 5.982%,
(3 mo. USD Term SOFR + 2.25%), 12/31/30 |
|
850 |
852,564 |
|
Orion Advisor Solutions, Inc., Term Loan, 6.573%,
(3 mo. USD Term SOFR + 2.75%), 9/24/30 |
|
349 |
347,669 |
|
Orion U.S. Finco, Inc., Term Loan, 7.263%, (3 mo. USD
Term SOFR + 3.50%), 10/8/32 |
|
549 |
551,517 |
|
Saphilux SARL, Term Loan, 7/18/33(15)
|
|
315 |
315,918 |
|
|
|
|
$ 7,486,218 |
|
Chemicals — 1.0% | |||
|
BASF Coatings, Term Loan, 7.244%, (3 mo. USD Term
SOFR + 3.50%), 6/29/33 |
|
450 |
$ 452,531 |
|
Charter NEX U.S., Inc., Term Loan, 6.167%, (1 mo.
USD Term SOFR + 2.50%), 11/29/30 |
|
499 |
499,898 |
|
Chemours Co., Term Loan, 7.231%, (1 mo. USD Term
SOFR + 3.50%), 10/15/32 |
|
249 |
249,140 |
|
CP Iris HoldCo I, Inc.: |
|
|
|
|
Term Loan, 7.731%, (1 mo. USD Term SOFR +
4.00%), 10/27/32 |
|
170 |
164,098 |
|
Term Loan, 10/27/32(16)
|
|
5 |
4,838 |
|
Discovery Purchaser Corp., Term Loan, 7.483%,
(3 mo. USD Term SOFR + 3.75%), 10/4/29 |
|
224 |
223,889 |
|
INEOS U.S. Finance LLC, Term Loan, 6.981%, (1 mo.
USD Term SOFR + 3.25%), 2/18/30 |
|
1,973 |
1,874,692 |
|
Nouryon Finance BV, Term Loan, 7.23%, (3 mo. USD
Term SOFR + 3.50%), 7/8/31 |
|
200 |
200,282 |
|
Olympus Water U.S. Holding Corp., Term Loan,
6/20/31(15)
|
|
630 |
630,410 |
|
SCUR-Alpha 1503 GmbH, Term Loan, 9.323%, (3 mo.
USD Term SOFR + 5.50%), 3/29/30 |
|
295 |
256,926 |
|
Tronox Finance LLC, Term Loan, 5.982%, (3 mo. USD
Term SOFR + 2.25%), 4/4/29 |
|
365 |
295,080 |
|
W.R. Grace & Co.-Conn., Term Loan, 6.732%, (3 mo.
USD Term SOFR + 3.00%), 8/19/32 |
|
398 |
398,327 |
|
|
|
|
$ 5,250,111 |
|
Borrower/Description |
Principal
Amount*
(000's omitted) |
Value | |
|
Commercial Services & Supplies — 1.5% | |||
|
Albion Financing 3 SARL, Term Loan, 6.632%, (3 mo.
USD Term SOFR + 3.00%), 5/21/31 |
|
581 |
$ 584,208 |
|
Allied Universal Holdco LLC, Term Loan, 6.981%,
(1 mo. USD Term SOFR + 3.25%), 8/20/32 |
|
797 |
800,062 |
|
American Auto Auction Group LLC, Term Loan,
8.232%, (3 mo. USD Term SOFR + 4.50%),
5/28/32 |
|
199 |
199,963 |
|
Anticimex International AB, Term Loan, 6.41%, (3 mo.
USD Term SOFR + 2.90%), 11/17/31 |
|
468 |
470,168 |
|
Belfor Holdings, Inc., Term Loan, 6.481%, (1 mo. USD
Term SOFR + 2.75%), 11/1/30 |
|
299 |
300,225 |
|
EnergySolutions LLC, Term Loan, 6.981%, (1 mo. USD
Term SOFR + 3.25%), 9/20/30 |
|
574 |
575,829 |
|
Garda World Security Corp., Term Loan, 6.513%,
(3 mo. USD Term SOFR + 2.75%), 2/1/29 |
|
1,099 |
1,100,056 |
|
Gategroup Fin Luxembourg SA, Term Loan, 7.225%,
(3 mo. USD Term SOFR + 3.50%), 6/10/32 |
|
249 |
251,244 |
|
GFL Environmental, Inc., Term Loan, 6.156%, (3 mo.
USD Term SOFR + 2.50%), 3/3/32 |
|
596 |
597,114 |
|
Heritage Environmental Services, Inc., Term Loan,
6.823%, (3 mo. USD Term SOFR + 3.00%),
4/1/33 |
|
425 |
427,656 |
|
Heritage-Crystal Clean, Inc., Term Loan, 6.642%,
(3 mo. USD Term SOFR + 3.00%), 10/17/30 |
|
392 |
393,920 |
|
LSF12 Crown U.S. Commercial Bidco LLC, Term Loan,
6.243%, (1 mo. USD Term SOFR + 2.50%),
12/2/31 |
|
860 |
862,916 |
|
Reworld Holding Corp.: |
|
|
|
|
Term Loan, 5.917%, (1 mo. USD Term SOFR +
2.25%), 1/15/31 |
|
343 |
343,991 |
|
Term Loan, 5.917%, (1 mo. USD Term SOFR +
2.25%), 1/15/31 |
|
56 |
56,039 |
|
Signal Parent, Inc., Term Loan, 7.423%, (3 mo. USD
Term SOFR + 3.50%), 4/3/28 |
|
707 |
266,949 |
|
Tidal Waste & Recycling Holdings LLC, Term Loan,
6.482%, (3 mo. USD Term SOFR + 2.75%),
10/24/31 |
|
494 |
494,492 |
|
|
|
|
$ 7,724,832 |
|
Construction Materials — 0.3% | |||
|
Quikrete Holdings, Inc.: |
|
|
|
|
Term Loan, 5.981%, (1 mo. USD Term SOFR +
2.25%), 3/19/29 |
|
758 |
$ 759,859 |
|
Term Loan, 5.981%, (1 mo. USD Term SOFR +
2.25%), 2/10/32 |
|
297 |
297,550 |
|
Smyrna Ready Mix Concrete LLC, Term Loan, 6.731%,
(1 mo. USD Term SOFR + 3.00%), 4/2/29 |
|
399 |
401,609 |
|
|
|
|
$ 1,459,018 |
|
Borrower/Description |
Principal
Amount*
(000's omitted) |
Value | |
|
Consumer Staples Distribution & Retail — 0.1% | |||
|
Boots Group Bidco Ltd., Term Loan, 6.921%, (3 mo.
USD Term SOFR + 3.25%), 8/30/32 |
|
498 |
$ 499,883 |
|
|
|
|
$ 499,883 |
|
Containers & Packaging — 0.7% | |||
|
Altium Packaging LLC, Term Loan, 6.231%, (1 mo.
USD Term SOFR + 2.50%), 6/11/31 |
|
338 |
$ 324,412 |
|
Berlin Packaging LLC, Term Loan, 6.982% - 6.984%,
(3 mo. USD Term SOFR + 3.25%), 6/7/31 |
|
399 |
397,670 |
|
Clydesdale Acquisition Holdings, Inc., Term Loan,
6.981%, (1 mo. USD Term SOFR + 3.25%),
4/1/32 |
|
400 |
383,253 |
|
Pregis TopCo Corp., Term Loan, 7.481%, (1 mo. USD
Term SOFR + 3.75%), 2/1/29 |
|
498 |
500,386 |
|
Proampac PG Borrower LLC, Term Loan, 7.666% -
7.823%, (3 mo. USD Term SOFR + 4.00%),
3/7/33 |
|
600 |
588,249 |
|
Sword Purchaser LLC, Term Loan, 7.731%, (1 mo.
USD Term SOFR + 4.00%), 4/11/33 |
|
1,105 |
1,067,314 |
|
Trivium Packaging BV, Term Loan, 5.709%, (3 mo.
EURIBOR + 3.25%), 5/28/30 |
EUR |
350 |
402,795 |
|
|
|
|
$ 3,664,079 |
|
Distributors — 0.1% | |||
|
ADI Global Distribution Funding LLC, Term Loan,
7/1/33(15)
|
|
550 |
$ 551,378 |
|
|
|
|
$ 551,378 |
|
Diversified Consumer Services — 0.5% | |||
|
Ascend Learning LLC, Term Loan, 6.731%, (1 mo. USD
Term SOFR + 3.00%), 12/11/28 |
|
448 |
$ 443,595 |
|
Belron Finance 2019 LLC, Term Loan, 5.657%, (3 mo.
USD Term SOFR + 2.00%), 10/16/31 |
|
684 |
684,459 |
|
Fugue Finance BV, Term Loan, 5.916%, (3 mo. USD
Term SOFR + 2.25%), 1/9/32 |
|
735 |
734,785 |
|
Spring Education Group, Inc., Term Loan, 6.982%,
(3 mo. USD Term SOFR + 3.25%), 10/4/30 |
|
473 |
473,500 |
|
Wand NewCo 3, Inc., Term Loan, 6.231%, (1 mo. USD
Term SOFR + 2.50%), 1/30/31 |
|
399 |
400,333 |
|
|
|
|
$ 2,736,672 |
|
Diversified Telecommunication Services — 0.2% | |||
|
Altice France SA, Term Loan, 9.128%, (3 mo. USD
Term SOFR + 5.38%), 5/14/29 |
|
375 |
$ 377,132 |
|
Borrower/Description |
Principal
Amount*
(000's omitted) |
Value | |
|
Diversified Telecommunication Services (continued) | |||
|
Level 3 Financing, Inc., Term Loan, 6.481%, (1 mo.
USD Term SOFR + 2.75%), 3/29/32 |
|
500 |
$ 502,395 |
|
Virgin Media Bristol LLC, Term Loan, 6.967%, (6 mo.
USD Term SOFR + 3.18%), 3/31/31 |
|
200 |
171,750 |
|
|
|
|
$ 1,051,277 |
|
Electric Utilities — 0.1% | |||
|
MRP Buyer LLC, Term Loan, 6.982%, (3 mo. USD Term
SOFR + 3.25%), 6/4/32 |
|
670 |
$ 672,602 |
|
|
|
|
$ 672,602 |
|
Electrical Equipment — 0.4% | |||
|
Dynamo Newco II GmbH, Term Loan, 6.981%, (1 mo.
USD Term SOFR + 3.25%), 9/30/31 |
|
491 |
$ 476,558 |
|
Kohler Energy Co. LLC, Term Loan, 6.732%, (3 mo.
USD Term SOFR + 3.00%), 5/1/31 |
|
365 |
367,062 |
|
Nvent Electric PLC, Term Loan, 6.397%, (1 mo. USD
Term SOFR + 2.75%), 1/30/32 |
|
300 |
301,462 |
|
WEC U.S. Holdings Ltd., Term Loan, 5.647%, (1 mo.
USD Term SOFR + 2.00%), 1/27/31 |
|
735 |
735,394 |
|
|
|
|
$ 1,880,476 |
|
Electronic Equipment, Instruments & Components — 1.0% | |||
|
Belden, Inc., Term Loan, 5.981%, (1 mo. USD Term
SOFR + 2.25%), 7/1/33 |
|
325 |
$ 327,031 |
|
Chamberlain Group, Inc., Term Loan, 6.731%, (1 mo.
USD Term SOFR + 3.00%), 9/8/32 |
|
726 |
728,283 |
|
Coreweave Compute Acquisition Co. VIII LLC, Term
Loan, 3/31/32(15)
|
|
350 |
349,344 |
|
Coreweave Financing DDTL V LLC, Term Loan, 8.12% -
8.14%, (1 mo. USD Term SOFR + 4.50%),
11/17/31(16)
|
|
673 |
673,835 |
|
Creation Technologies, Inc., Term Loan, 9.512%,
(3 mo. USD Term SOFR + 5.50%), 10/5/28 |
|
284 |
283,117 |
|
Dwyer Instruments, Inc.: |
|
|
|
|
Term Loan, 7/25/33(15)
|
|
515 |
515,056 |
|
Term Loan, 7/25/33(15)
|
|
35 |
35,117 |
|
Range Red Operating, Inc.: |
|
|
|
|
Term Loan, 11.764%, (3 mo. USD Term SOFR +
8.00%), 10/1/29(7)
|
|
355 |
283,670 |
|
Term Loan - Second Lien, 11.764%, (3 mo. USD
Term SOFR + 8.00%), 10/1/29(7)
|
|
1,487 |
1,189,955 |
|
Spectris PLC, Term Loan, 12/6/32(15)
|
|
300 |
301,749 |
|
Verifone Systems, Inc., Term Loan, 9.584%, (3 mo.
USD Term SOFR + 5.50%), 8/18/28 |
|
201 |
190,775 |
|
|
|
|
$ 4,877,932 |
|
Borrower/Description |
Principal
Amount*
(000's omitted) |
Value | |
|
Energy Equipment & Services — 0.2% | |||
|
New Generation Gas Gathering LLC, Term Loan,
9.073%, (3 mo. USD Term SOFR + 5.25%),
9/30/29 |
|
955 |
$ 933,275 |
|
|
|
|
$ 933,275 |
|
Engineering & Construction — 0.7% | |||
|
American Residential Services LLC, Term Loan,
6.482%, (3 mo. USD Term SOFR + 2.75%),
2/2/32 |
|
249 |
$ 250,617 |
|
Artera Services LLC, Term Loan, 8.231%, (1 mo. USD
Term SOFR + 4.50%), 2/15/31 |
|
295 |
261,356 |
|
Azuria Water Solutions, Inc.: |
|
|
|
|
Term Loan, 6.482%, (3 mo. USD Term SOFR +
2.75%), 4/25/33 |
|
498 |
497,707 |
|
Term Loan, 4/25/33(16)
|
|
52 |
51,710 |
|
Brand Industrial Services, Inc., Term Loan, 8/1/30(15)
|
|
200 |
160,188 |
|
Construction Partners, Inc., Term Loan, 11/3/31(15)
|
|
470 |
470,588 |
|
Green Infrastructure Partners, Inc., Term Loan,
6.482%, (3 mo. USD Term SOFR + 2.75%),
9/24/32 |
|
474 |
474,997 |
|
New Arclin U.S. Holding Corp., Term Loan, 8.147%,
(1 mo. USD Term SOFR + 4.50%), 4/1/33 |
|
250 |
230,804 |
|
Northstar Group Services, Inc., Term Loan, 8.573%,
(3 mo. USD Term SOFR + 4.75%), 5/31/30 |
|
589 |
591,319 |
|
Trilon Group LLC: |
|
|
|
|
Term Loan, 7.253%, (3 mo. USD Term SOFR +
3.50%), 6/13/33 |
|
308 |
308,319 |
|
Term Loan, 7.323%, (3 mo. USD Term SOFR +
3.50%), 6/13/33(16)
|
|
17 |
16,884 |
|
|
|
|
$ 3,314,489 |
|
Entertainment — 1.3% | |||
|
City Football Group Ltd., Term Loan, 6.845%, (1 mo.
USD Term SOFR + 3.00%), 7/22/30 |
|
474 |
$ 474,177 |
|
Creative Artists Agency LLC, Term Loan, 6.231%,
(1 mo. USD Term SOFR + 2.50%), 10/1/31 |
|
595 |
595,801 |
|
Discovery Global Holdings, Inc., Term Loan, 6.231%,
(1 mo. USD Term SOFR + 2.50%), 6/3/33 |
|
1,618 |
1,621,473 |
|
EOC Borrower LLC, Term Loan, 6.481%, (1 mo. USD
Term SOFR + 2.75%), 3/24/32 |
|
789 |
791,967 |
|
Oak-Eagle AcquireCo, Inc., Term Loan, 8/4/33(15)
|
|
1,300 |
1,309,510 |
|
Pretzel Parent, Inc., Term Loan, 8.231%, (1 mo. USD
Term SOFR + 4.50%), 10/1/31 |
|
249 |
241,004 |
|
TKO Worldwide Holdings LLC, Term Loan, 5.413%,
(3 mo. USD Term SOFR + 1.75%), 11/21/31 |
|
991 |
990,451 |
|
Varsity Brands, Inc., Term Loan, 6.484%, (3 mo. USD
Term SOFR + 2.75%), 8/26/31 |
|
369 |
369,405 |
|
|
|
|
$ 6,393,788 |
|
Borrower/Description |
Principal
Amount*
(000's omitted) |
Value | |
|
Financial Services — 0.2% | |||
|
CPI Holdco B LLC, Term Loan, 5.731%, (1 mo. USD
Term SOFR + 2.00%), 5/19/31 |
|
418 |
$ 417,199 |
|
Planet U.S. Buyer LLC, Term Loan, 6.656%, (3 mo.
USD Term SOFR + 3.00%), 2/7/31 |
|
299 |
300,893 |
|
Synechron, Inc., Term Loan, 7.482%, (3 mo. USD Term
SOFR + 3.75%), 10/3/31 |
|
294 |
276,125 |
|
|
|
|
$ 994,217 |
|
Food Products — 0.5% | |||
|
Del Monte Foods, Inc.: |
|
|
|
|
Term Loan, 0.00%, 6/30/26(7)(17)
|
|
227 |
$ 137,719 |
|
Term Loan, 0.00%, 8/2/28(7)(17)
|
|
70 |
0 |
|
Term Loan, 0.00%, 8/2/28(7)(17)
|
|
62 |
37,525 |
|
Term Loan - Second Lien, 0.00%, 8/2/28(7)(17)
|
|
491 |
0 |
|
Froneri Lux Finco SARL, Term Loan, 6.454%, (6 mo.
USD Term SOFR + 2.50%), 9/30/32 |
|
672 |
669,023 |
|
Newly Weds Foods, Inc., Term Loan, 5.974%, (1 mo.
USD Term SOFR + 2.25%), 3/15/32 |
|
249 |
249,366 |
|
Nomad Foods Europe Midco Ltd., Term Loan, 6.158%,
(6 mo. USD Term SOFR + 2.50%), 10/29/32 |
|
583 |
579,618 |
|
PFI Lower Midco LLC, Term Loan, 7.731%, (1 mo. USD
Term SOFR + 4.00%), 12/1/32 |
|
498 |
500,766 |
|
Treehouse Foods, Inc., Term Loan, 7.981%, (1 mo.
USD Term SOFR + 4.25%), 2/11/33 |
|
300 |
301,347 |
|
|
|
|
$ 2,475,364 |
|
Gas Utilities — 0.0%† | |||
|
Stonepeak Bayou Holdings LP, Term Loan, 6.482%,
(3 mo. USD Term SOFR + 2.75%), 10/1/32 |
|
248 |
$ 247,973 |
|
|
|
|
$ 247,973 |
|
Ground Transportation — 0.1% | |||
|
Student Transportation of America Holdings, Inc.: |
|
|
|
|
Term Loan, 6/24/32(15)
|
|
325 |
$ 326,575 |
|
Term Loan, 6/24/32(15)
|
|
75 |
75,363 |
|
|
|
|
$ 401,938 |
|
Health Care Equipment & Supplies — 0.3% | |||
|
Bausch & Lomb Corp., Term Loan, 7.481%, (1 mo.
USD Term SOFR + 3.75%), 1/15/31 |
|
497 |
$ 498,739 |
|
Hologic, Inc., Term Loan, 5.995%, (3 mo. USD Term
SOFR + 2.25%), 4/7/33 |
|
675 |
664,619 |
|
Journey Personal Care Corp., Term Loan, 7.573%,
(3 mo. USD Term SOFR + 3.75%), 3/1/28 |
|
469 |
468,945 |
|
|
|
|
$ 1,632,303 |
|
Borrower/Description |
Principal
Amount*
(000's omitted) |
Value | |
|
Health Care Providers & Services — 2.1% | |||
|
AEA International Holdings (Lux) SARL, Term Loan,
6.843%, (3 mo. USD Term SOFR + 3.00%),
7/29/33 |
|
234 |
$ 234,567 |
|
CNT Holdings I Corp., Term Loan, 6.073%, (3 mo. USD
Term SOFR + 2.25%), 11/8/32 |
|
423 |
424,250 |
|
Ensemble RCM LLC, Term Loan, 6.823%, (3 mo. USD
Term SOFR + 3.00%), 2/9/33 |
|
525 |
523,688 |
|
ExamWorks BidCo, Inc., Term Loan, 6.231%, (1 mo.
USD Term SOFR + 2.50%), 2/6/33 |
|
499 |
501,100 |
|
Global Medical Response, Inc., Term Loan, 6.917%,
(1 mo. USD Term SOFR + 3.25%), 10/1/32 |
|
468 |
470,106 |
|
Hanger, Inc.: |
|
|
|
|
Term Loan, 7.231%, (1 mo. USD Term SOFR +
3.50%), 10/23/31 |
|
307 |
309,267 |
|
Term Loan, 7.231%, (1 mo. USD Term SOFR +
3.50%), 10/23/31(16)
|
|
40 |
40,103 |
|
Heartland Dental LLC, Term Loan, 7.231%, (1 mo.
USD Term SOFR + 3.50%), 8/25/32 |
|
347 |
348,266 |
|
LifePoint Health, Inc., Term Loan, 7.503%, (3 mo. USD
Term SOFR + 3.75%), 5/19/31 |
|
380 |
363,510 |
|
Mckesson Medical-Surgical Top Holdings, Inc., Term
Loan, 5.982%, (3 mo. USD Term SOFR + 2.25%),
6/9/32 |
|
475 |
476,040 |
|
MDVIP, Inc., Term Loan, 6.474%, (1 mo. USD Term
SOFR + 2.75%), 10/14/31 |
|
348 |
348,681 |
|
MED ParentCo LP, Term Loan, 6.731%, (1 mo. USD
Term SOFR + 3.00%), 4/15/31 |
|
495 |
496,478 |
|
Medical Solutions Holdings, Inc.: |
|
|
|
|
Term Loan, 7.423%, (3 mo. USD Term SOFR +
3.50%), 11/1/30 |
|
409 |
51,849 |
|
Term Loan, 9.173%, (3 mo. USD Term SOFR +
5.25%), 11/1/30 |
|
176 |
123,271 |
|
Term Loan, 9.173%, (3 mo. USD Term SOFR +
5.25%), 11/1/30 |
|
511 |
346,387 |
|
Midwest Physician Administrative Services LLC, Term
Loan, 8.231%, (1 mo. USD Term SOFR + 4.50%),
3/12/31 |
|
164 |
160,471 |
|
National Mentor Holdings, Inc., Term Loan, 9.731%,
(1 mo. USD Term SOFR + 6.00%), 12/12/30 |
|
396 |
399,938 |
|
Pacific Dental Services LLC, Term Loan, 5.917%,
(1 mo. USD Term SOFR + 2.25%), 3/15/31 |
|
392 |
392,955 |
|
Phoenix Guarantor, Inc., Term Loan, 5.731%, (1 mo.
USD Term SOFR + 2.00%), 2/21/31 |
|
453 |
453,603 |
|
Radiology Partners, Inc., Term Loan, 8.232%, (3 mo.
USD Term SOFR + 4.50%), 6/30/32 |
|
369 |
370,861 |
|
Radnet Management, Inc., Term Loan, 5.661%, (3 mo.
USD Term SOFR + 2.00%), 4/18/31 |
|
1,055 |
1,055,579 |
|
Raven Acquisition Holdings LLC: |
|
|
|
|
Term Loan, 6.731%, (1 mo. USD Term SOFR +
3.00%), 11/19/31 |
|
484 |
482,029 |
|
Borrower/Description |
Principal
Amount*
(000's omitted) |
Value | |
|
Health Care Providers & Services (continued) | |||
|
Raven Acquisition Holdings LLC: (continued) |
|
|
|
|
Term Loan, 11/19/31(16)
|
|
35 |
$ 34,866 |
|
Select Medical Corp., Term Loan, 6.451%, (1 mo. USD
Term SOFR + 2.72%), 12/3/31 |
|
545 |
544,784 |
|
Surgery Center Holdings, Inc., Term Loan, 6.231%,
(1 mo. USD Term SOFR + 2.50%), 12/19/30 |
|
978 |
977,860 |
|
U.S. Anesthesia Partners, Inc., Term Loan, 7.761%,
(1 mo. USD Term SOFR + 4.00%), 10/2/28 |
|
492 |
493,732 |
|
|
|
|
$ 10,424,241 |
|
Health Care Technology — 0.6% | |||
|
athenahealth Group, Inc., Term Loan, 6.981%, (1 mo.
USD Term SOFR + 3.25%), 2/16/32 |
|
525 |
$ 522,454 |
|
Cotiviti Corp., Term Loan, 6.397%, (1 mo. USD Term
SOFR + 2.75%), 5/1/31 |
|
737 |
693,215 |
|
Imprivata, Inc., Term Loan, 11/30/29(15)
|
|
455 |
457,796 |
|
PointClickCare Technologies, Inc., Term Loan, 6.573%,
(3 mo. USD Term SOFR + 2.75%), 11/3/31 |
|
497 |
494,717 |
|
Project Ruby Ultimate Parent Corp., Term Loan,
6.595%, (1 mo. USD Term SOFR + 2.75%),
3/10/28 |
|
397 |
397,141 |
|
Waystar Technologies, Inc., Term Loan, 5.731%,
(1 mo. USD Term SOFR + 2.00%), 10/22/29 |
|
338 |
338,164 |
|
|
|
|
$ 2,903,487 |
|
Hotels, Restaurants & Leisure — 2.1% | |||
|
Allwyn Entertainment Financing U.S. LLC, Term Loan,
6.323%, (3 mo. USD Term SOFR + 2.50%),
11/24/32 |
|
235 |
$ 233,120 |
|
Betclic Everest Group, Term Loan, 12/10/31(15)
|
|
375 |
376,406 |
|
Caesars Entertainment, Inc., Term Loan, 5.981%,
(1 mo. USD Term SOFR + 2.25%), 2/6/31 |
|
383 |
365,943 |
|
Delivery Hero SE, Term Loan, 8.643%, (3 mo. USD
Term SOFR + 5.00%), 12/12/29 |
|
224 |
226,793 |
|
Fertitta Entertainment LLC, Term Loan, 6.981%,
(1 mo. USD Term SOFR + 3.25%), 1/27/29 |
|
257 |
257,067 |
|
Flutter Financing BV: |
|
|
|
|
Term Loan, 5.482%, (3 mo. USD Term SOFR +
1.75%), 11/30/30 |
|
918 |
911,038 |
|
Term Loan, 5.732%, (3 mo. USD Term SOFR +
2.00%), 6/4/32 |
|
396 |
394,812 |
|
Gaia Purchaser, Inc., Term Loan, 6/25/33(15)
|
|
600 |
600,000 |
|
GVC Holdings (Gibraltar) Ltd., Term Loan, 5.982%,
(3 mo. USD Term SOFR + 2.25%), 10/31/29 |
|
494 |
494,838 |
|
Herschend Entertainment Co. LLC, Term Loan,
6.231%, (1 mo. USD Term SOFR + 2.50%),
5/27/32 |
|
297 |
298,337 |
|
Borrower/Description |
Principal
Amount*
(000's omitted) |
Value | |
|
Hotels, Restaurants & Leisure (continued) | |||
|
Horizon U.S. Finco LP, Term Loan, 8.593%, (3 mo. USD
Term SOFR + 4.75%), 10/31/31 |
|
411 |
$ 397,833 |
|
IRB Holding Corp., Term Loan, 6.231%, (1 mo. USD
Term SOFR + 2.50%), 12/16/30 |
|
1,673 |
1,678,194 |
|
Ontario Gaming GTA LP, Term Loan, 7.982%, (3 mo.
USD Term SOFR + 4.25%), 8/1/30 |
|
391 |
375,433 |
|
Peninsula Pacific Entertainment LLC, Term Loan,
8.596%, (6 mo. USD Term SOFR + 4.75%),
10/1/32 |
|
946 |
951,326 |
|
Pioneer Opco LLC, Term Loan, 6.999%, (1 mo. USD
Term SOFR + 3.25%), 5/16/33 |
|
390 |
392,751 |
|
Scientific Games Holdings LP, Term Loan, 6.75%,
(3 mo. USD Term SOFR + 3.00%), 4/4/29 |
|
392 |
382,834 |
|
SeaWorld Parks & Entertainment, Inc., Term Loan,
5.731%, (1 mo. USD Term SOFR + 2.00%),
12/4/31 |
|
669 |
666,160 |
|
Spectacle Gary Holdings LLC, Term Loan, 8.132%,
(3 mo. USD Term SOFR + 4.25%), 12/11/28 |
|
656 |
642,585 |
|
Turquoise Topco Ltd., Term Loan, 6.982%, (3 mo. USD
Term SOFR + 3.25%), 12/30/32 |
|
449 |
447,192 |
|
Voyager Parent LLC, Term Loan, 7.982%, (3 mo. USD
Term SOFR + 4.25%), 7/1/32 |
|
596 |
597,104 |
|
|
|
|
$ 10,689,766 |
|
Household Durables — 0.1% | |||
|
PHRG Intermediate LLC, Term Loan, 7.732%, (3 mo.
USD Term SOFR + 4.00%), 2/20/32 |
|
481 |
$ 479,165 |
|
|
|
|
$ 479,165 |
|
Independent Power and Renewable Electricity Producers — 0.1% | |||
|
Pathfinder Power LLC, Term Loan, 6/22/33(15)
|
|
400 |
$ 399,688 |
|
|
|
|
$ 399,688 |
|
Insurance — 1.4% | |||
|
Acrisure LLC: |
|
|
|
|
Term Loan, 6.731%, (1 mo. USD Term SOFR +
3.00%), 11/6/30 |
|
175 |
$ 160,752 |
|
Term Loan, 6.981%, (1 mo. USD Term SOFR +
3.25%), 6/21/32 |
|
398 |
359,385 |
|
Alera Group, Inc., Term Loan, 6.481%, (1 mo. USD
Term SOFR + 2.75%), 5/30/32 |
|
397 |
386,873 |
|
Alliant Holdings Intermediate LLC, Term Loan, 6.231%,
(1 mo. USD Term SOFR + 2.50%), 9/19/31 |
|
624 |
621,905 |
|
AmWINS Group, Inc., Term Loan, 5.732%, (3 mo. USD
Term SOFR + 2.00%), 1/30/32 |
|
1,022 |
1,014,888 |
|
Broadstreet Partners, Inc., Term Loan, 6.231%, (1 mo.
USD Term SOFR + 2.50%), 6/13/31 |
|
994 |
978,749 |
|
Borrower/Description |
Principal
Amount*
(000's omitted) |
Value | |
|
Insurance (continued) | |||
|
IMA Financial Group, Inc., Term Loan, 6.749%, (1 mo.
USD Term SOFR + 3.00%), 11/1/28 |
|
472 |
$ 473,261 |
|
Ryan Specialty Group LLC, Term Loan, 5.731%, (1 mo.
USD Term SOFR + 2.00%), 9/15/31 |
|
690 |
690,362 |
|
Trucordia Insurance Holdings LLC, Term Loan,
6.982%, (3 mo. USD Term SOFR + 3.25%),
6/17/32 |
|
492 |
438,222 |
|
Truist Insurance Holdings LLC: |
|
|
|
|
Term Loan, 6.482%, (3 mo. USD Term SOFR +
2.75%), 5/6/31 |
|
345 |
340,018 |
|
Term Loan - Second Lien, 8.482%, (3 mo. USD
Term SOFR + 4.75%), 5/6/32 |
|
439 |
423,727 |
|
USI, Inc., Term Loan, 5.982%, (3 mo. USD Term SOFR
+ 2.25%), 11/21/29 |
|
1,150 |
1,150,177 |
|
|
|
|
$ 7,038,319 |
|
Interactive Media & Services — 0.2% | |||
|
Aragorn Parent Corp., Term Loan, 7.231%, (1 mo. USD
Term SOFR + 3.50%), 12/16/30 |
|
814 |
$ 820,580 |
|
|
|
|
$ 820,580 |
|
IT Services — 0.8% | |||
|
Ahead DB Holdings LLC, Term Loan, 6.232%, (3 mo.
USD Term SOFR + 2.50%), 2/3/31 |
|
474 |
$ 470,845 |
|
Asurion LLC: |
|
|
|
|
Term Loan, 7.573%, (3 mo. USD Term SOFR +
3.75%), 2/23/33 |
|
326 |
305,943 |
|
Term Loan, 8.073%, (3 mo. USD Term SOFR +
4.25%), 9/19/30 |
|
309 |
302,333 |
|
Gainwell Acquisition Corp., Term Loan, 7.832%,
(3 mo. USD Term SOFR + 4.00%), 10/1/27 |
|
598 |
594,170 |
|
Go Daddy Operating Co. LLC: |
|
|
|
|
Term Loan, 5.481%, (1 mo. USD Term SOFR +
1.75%), 11/9/29 |
|
85 |
83,977 |
|
Term Loan, 5.481%, (1 mo. USD Term SOFR +
1.75%), 5/30/31 |
|
157 |
153,841 |
|
NAB Holdings LLC, Term Loan, 6.232%, (3 mo. USD
Term SOFR + 2.50%), 11/23/28 |
|
403 |
378,382 |
|
Newfold Digital Holdings Group, Inc., Term Loan,
7.267%, (1 mo. USD Term SOFR + 3.60%),
4/30/29 |
|
146 |
118,384 |
|
Nielsen Consumer, Inc., Term Loan, 5.981%, (1 mo.
USD Term SOFR + 2.25%), 10/31/30 |
|
249 |
245,630 |
|
Peraton Corp., Term Loan, 7.673%, (3 mo. USD Term
SOFR + 3.75%), 2/1/28 |
|
150 |
136,560 |
|
Plano HoldCo, Inc., Term Loan, 7.232%, (3 mo. USD
Term SOFR + 3.50%), 10/2/31 |
|
150 |
118,014 |
|
Borrower/Description |
Principal
Amount*
(000's omitted) |
Value | |
|
IT Services (continued) | |||
|
Sedgwick Claims Management Services, Inc., Term
Loan, 6.231%, (1 mo. USD Term SOFR + 2.50%),
7/31/31 |
|
793 |
$ 788,329 |
|
Trio Bidco, Inc.: |
|
|
|
|
Term Loan, 7.732%, (3 mo. USD Term SOFR +
4.00%), 10/29/32 |
|
181 |
179,335 |
|
Term Loan, 10/29/32(16)
|
|
19 |
18,924 |
|
Virtusa Corp., Term Loan, 6.981%, (1 mo. USD Term
SOFR + 3.25%), 2/15/29 |
|
249 |
225,306 |
|
|
|
|
$ 4,119,973 |
|
Leisure Products — 0.5% | |||
|
GSM Holdings, Inc., Term Loan, 8.732%, (3 mo. USD
Term SOFR + 5.00%), 9/30/31 |
|
295 |
$ 296,178 |
|
Hayward Industries, Inc., Term Loan, 5.731%, (1 mo.
USD Term SOFR + 2.00%), 6/23/33 |
|
1,009 |
1,010,521 |
|
Peloton Interactive, Inc., Term Loan, 9.231%, (1 mo.
USD Term SOFR + 5.50%), 5/30/29 |
|
887 |
891,334 |
|
Recess Holdings, Inc., Term Loan, 7.56%, (3 mo. USD
Term SOFR + 3.75%), 2/20/30 |
|
489 |
488,809 |
|
|
|
|
$ 2,686,842 |
|
Life Sciences Tools & Services — 0.3% | |||
|
Parexel International Corp., Term Loan, 6.231%,
(1 mo. USD Term SOFR + 2.50%), 12/12/31 |
|
695 |
$ 697,280 |
|
Sotera Health Holdings LLC, Term Loan, 5.981%,
(1 mo. USD Term SOFR + 2.25%), 5/30/31 |
|
630 |
632,955 |
|
Star Parent, Inc., Term Loan, 7.232%, (3 mo. USD
Term SOFR + 3.50%), 9/27/30 |
|
342 |
343,333 |
|
|
|
|
$ 1,673,568 |
|
Machinery — 2.0% | |||
|
AAG U.S. GSI Bidco, Inc., Term Loan, 8.323%, (3 mo.
USD Term SOFR + 4.50%), 10/31/31 |
|
199 |
$ 200,494 |
|
AI Aqua Merger Sub, Inc., Term Loan, 6.152%, (3 mo.
USD Term SOFR + 2.50%), 7/5/33 |
|
805 |
805,979 |
|
Apex Tool Group LLC, Term Loan, 9.731%, (1 mo. USD
Term SOFR + 6.00%), 2/8/29 |
|
21 |
7,877 |
|
Astro Acquisition LLC, Term Loan, 5.982%, (3 mo.
USD Term SOFR + 2.25%), 8/30/32 |
|
200 |
200,249 |
|
Barnes Group, Inc., Term Loan, 6.231%, (1 mo. USD
Term SOFR + 2.50%), 1/27/32 |
|
542 |
543,262 |
|
Bettcher Industries, Inc., Term Loan, 7.732%, (3 mo.
USD Term SOFR + 4.00%), 4/15/33 |
|
225 |
226,350 |
|
BG MS U.S. Holding LLC, Term Loan, 8.482%, (3 mo.
USD Term SOFR + 4.75%), 10/22/32 |
|
299 |
298,035 |
|
Cleanova U.S. Holdings LLC, Term Loan, 8.414%,
(3 mo. USD Term SOFR + 4.75%), 6/14/32 |
|
199 |
197,880 |
|
Borrower/Description |
Principal
Amount*
(000's omitted) |
Value | |
|
Machinery (continued) | |||
|
Columbus McKinnon Corp., Term Loan, 7.232%,
(3 mo. USD Term SOFR + 3.50%), 2/3/33 |
|
220 |
$ 220,911 |
|
Conair Holdings LLC, Term Loan, 7.595%, (1 mo. USD
Term SOFR + 3.75%), 5/17/28 |
|
475 |
411,232 |
|
Cube Industrials Buyer, Inc., Term Loan, 6.741%,
(3 mo. USD Term SOFR + 3.00%), 10/17/31 |
|
469 |
471,759 |
|
EMRLD Borrower LP: |
|
|
|
|
Term Loan, 5.916%, (3 mo. USD Term SOFR +
2.25%), 5/31/30 |
|
1 |
998 |
|
Term Loan, 6.073%, (3 mo. USD Term SOFR +
2.25%), 8/4/31 |
|
700 |
700,805 |
|
Engineered Machinery Holdings, Inc., Term Loan,
6.491%, (3 mo. USD Term SOFR + 2.75%),
11/26/32 |
|
930 |
933,731 |
|
Filtration Group Corp., Term Loan, 6.231%, (1 mo.
USD Term SOFR + 2.50%), 10/21/28 |
|
524 |
524,683 |
|
Gates Global LLC, Term Loan, 5.481%, (1 mo. USD
Term SOFR + 1.75%), 6/4/31 |
|
639 |
638,660 |
|
Icebox Holdco III, Inc., Term Loan, 6.982%, (3 mo.
USD Term SOFR + 3.25%), 12/22/31 |
|
309 |
311,170 |
|
Illuminate Buyer LLC, Term Loan, 6.231%, (1 mo. USD
Term SOFR + 2.50%), 12/31/29 |
|
249 |
248,019 |
|
Jennmar Inter III LLC, Term Loan, 8.732%, (3 mo. USD
Term SOFR + 5.00%), 12/16/30 |
|
247 |
245,190 |
|
LSF12 Helix Parent LLC, Term Loan, 7.231%, (1 mo.
USD Term SOFR + 3.50%), 2/10/33 |
|
550 |
544,789 |
|
Resilience Parent LLC, Term Loan, 6.232%, (3 mo.
USD Term SOFR + 2.50%), 2/28/33 |
|
500 |
499,898 |
|
Roper Industrial Products Investment Co. LLC, Term
Loan, 6.231%, (1 mo. USD Term SOFR + 2.50%),
11/22/29 |
|
682 |
683,676 |
|
TK Elevator Midco GmbH, Term Loan, 6.704%, (6 mo.
USD Term SOFR + 2.75%), 4/30/30 |
|
1,381 |
1,387,791 |
|
|
|
|
$ 10,303,438 |
|
Marine Transportation — 0.1% | |||
|
Boluda Towage SL, Term Loan, 6/30/33(15)
|
|
400 |
$ 402,376 |
|
|
|
|
$ 402,376 |
|
Media — 0.5% | |||
|
ABG Intermediate Holdings 2 LLC, Term Loan, 5.981%,
(1 mo. USD Term SOFR + 2.25%), 12/21/28 |
|
298 |
$ 299,300 |
|
DirecTV Financing LLC, Term Loan, 2/17/31(15)
|
|
235 |
236,523 |
|
E.W. Scripps Co.: |
|
|
|
|
Term Loan, 7.132%, (1 mo. USD Term SOFR +
3.35%), 11/30/29 |
|
678 |
653,680 |
|
Term Loan, 9.532%, (1 mo. USD Term SOFR +
5.75%), 6/30/28 |
|
123 |
122,933 |
|
Borrower/Description |
Principal
Amount*
(000's omitted) |
Value | |
|
Media (continued) | |||
|
Fleet U.S. Bidco, Inc., Term Loan, 6.479%, (6 mo. USD
Term SOFR + 2.50%), 2/21/31 |
|
280 |
$ 280,931 |
|
Nexstar Media, Inc., Term Loan, 6.481%, (1 mo. USD
Term SOFR + 2.75%), 3/18/33 |
|
395 |
395,061 |
|
Univision Communications, Inc.: |
|
|
|
|
Term Loan, 7.095%, (1 mo. USD Term SOFR +
3.25%), 1/31/29 |
|
199 |
197,784 |
|
Term Loan, 7.982%, (3 mo. USD Term SOFR +
4.25%), 6/24/29 |
|
348 |
347,426 |
|
|
|
|
$ 2,533,638 |
|
Metals/Mining — 0.3% | |||
|
Arsenal AIC Parent LLC, Term Loan, 6.481%, (1 mo.
USD Term SOFR + 2.75%), 8/19/30 |
|
529 |
$ 531,705 |
|
Wireco Worldgroup, Inc., Term Loan, 7.483%, (3 mo.
USD Term SOFR + 3.75%), 11/13/28 |
|
246 |
246,097 |
|
Worthington Steel, Inc., Term Loan, 7.731%, (1 mo.
USD Term SOFR + 4.00%), 6/1/33 |
|
290 |
291,486 |
|
Zekelman Industries, Inc., Term Loan, 5.981%, (1 mo.
USD Term SOFR + 2.25%), 1/24/31 |
|
399 |
399,450 |
|
|
|
|
$ 1,468,738 |
|
Oil, Gas & Consumable Fuels — 0.6% | |||
|
Freeport LNG Investments LLLP, Term Loan, 6.979%,
(3 mo. USD Term SOFR + 3.25%), 2/11/33 |
|
648 |
$ 651,672 |
|
GIP Pilot Acquisition Partners LP, Term Loan, 5.641%,
(3 mo. USD Term SOFR + 2.00%), 5/19/33 |
|
512 |
512,779 |
|
Matador Bidco SARL, Term Loan, 8.081%, (1 mo. USD
Term SOFR + 4.25%), 7/30/29 |
|
475 |
477,375 |
|
UGI Energy Services LLC, Term Loan, 5.731%, (1 mo.
USD Term SOFR + 2.00%), 2/22/30 |
|
334 |
334,343 |
|
Venture Global Calcasieu Pass LLC, Term Loan,
6.954%, (6 mo. USD Term SOFR + 3.25%),
4/11/33 |
|
825 |
831,306 |
|
|
|
|
$ 2,807,475 |
|
Paper & Forest Products — 0.1% | |||
|
Spa Holdings 3 OYJ, Term Loan, 2/4/28(15)
|
|
325 |
$ 325,609 |
|
|
|
|
$ 325,609 |
|
Passenger Airlines — 0.1% | |||
|
WestJet Loyalty LP, Term Loan, 6.482%, (3 mo. USD
Term SOFR + 2.75%), 2/14/31 |
|
339 |
$ 325,567 |
|
|
|
|
$ 325,567 |
|
Borrower/Description |
Principal
Amount*
(000's omitted) |
Value | |
|
Pharmaceuticals — 0.6% | |||
|
Bausch Health Cos., Inc., Term Loan, 9.981%, (1 mo.
USD Term SOFR + 6.25%), 10/8/30 |
|
1,521 |
$ 1,479,466 |
|
Endo Luxembourg Finance Co. I SARL, Term Loan,
7.481%, (1 mo. USD Term SOFR + 3.75%),
4/23/31 |
|
604 |
606,093 |
|
Opal Bidco SAS, Term Loan, 4/28/32(15)
|
|
785 |
787,312 |
|
Padagis LLC, Term Loan, 8.742%, (3 mo. USD Term
SOFR + 4.75%), 7/6/28 |
|
242 |
233,367 |
|
|
|
|
$ 3,106,238 |
|
Professional Services — 0.9% | |||
|
AAL Delaware Holdco, Inc., Term Loan, 6.231%,
(1 mo. USD Term SOFR + 2.50%), 7/30/31 |
|
522 |
$ 524,456 |
|
Amspec Parent LLC, Term Loan, 6.732%, (3 mo. USD
Term SOFR + 3.00%), 12/22/31 |
|
349 |
350,864 |
|
Citrin Cooperman Advisors LLC, Term Loan, 6.732%,
(3 mo. USD Term SOFR + 3.00%), 4/1/32 |
|
299 |
294,135 |
|
CoreLogic, Inc., Term Loan, 7.974%, (1 mo. USD Term
SOFR + 4.25%), 7/25/31 |
|
350 |
336,802 |
|
EAB Global, Inc., Term Loan, 6.731%, (1 mo. USD
Term SOFR + 3.00%), 8/16/30 |
|
220 |
194,967 |
|
First Advantage Holdings LLC, Term Loan, 6.482%,
(3 mo. USD Term SOFR + 2.75%), 10/31/31 |
|
376 |
376,191 |
|
Grant Thornton Advisors LLC, Term Loan, 6.481%,
(1 mo. USD Term SOFR + 2.75%), 6/2/31 |
|
677 |
640,035 |
|
Heron Bidco, Term Loan, 7.732%, (3 mo. USD Term
SOFR + 4.00%), 12/10/32 |
|
225 |
226,744 |
|
iSolved, Inc., Term Loan, 6.481%, (1 mo. USD Term
SOFR + 2.75%), 10/15/30 |
|
249 |
235,788 |
|
Mermaid Bidco, Inc., Term Loan, 6.908%, (3 mo. USD
Term SOFR + 3.25%), 7/3/31 |
|
444 |
439,334 |
|
Neptune Bidco U.S., Inc., Term Loan, 8.863%, (3 mo.
USD Term SOFR + 5.00%), 2/3/33 |
|
785 |
781,817 |
|
Trans Union LLC, Term Loan, 5.481%, (1 mo. USD
Term SOFR + 1.75%), 6/24/31 |
|
321 |
320,195 |
|
|
|
|
$ 4,721,328 |
|
Real Estate Management & Development — 0.3% | |||
|
Cushman & Wakefield U.S. Borrower LLC, Term Loan,
6.231%, (1 mo. USD Term SOFR + 2.50%),
1/31/30 |
|
432 |
$ 433,204 |
|
CyrusOne Holdco LLC, Term Loan, 7.738%, (3 mo.
USD Term SOFR + 4.00%), 7/8/33 |
|
225 |
218,531 |
|
Borrower/Description |
Principal
Amount*
(000's omitted) |
Value | |
|
Real Estate Management & Development (continued) | |||
|
Greystar Real Estate Partners LLC, Term Loan,
5.917%, (3 mo. USD Term SOFR + 2.25%),
8/21/30 |
|
573 |
$ 573,277 |
|
Metropolis Technologies, Inc., Term Loan, 8.916%,
(3 mo. USD Term SOFR + 5.25%), 11/3/32 |
|
319 |
315,311 |
|
|
|
|
$ 1,540,323 |
|
Road & Rail — 0.3% | |||
|
Avis Budget Car Rental LLC, Term Loan, 6.231%,
(1 mo. USD Term SOFR + 2.50%), 7/16/32 |
|
299 |
$ 297,000 |
|
First Student Bidco, Inc., Term Loan, 5.982%, (3 mo.
USD Term SOFR + 2.25%), 8/15/30 |
|
394 |
395,380 |
|
Hertz Corp.: |
|
|
|
|
Term Loan, 7.584%, (3 mo. USD Term SOFR +
3.50%), 6/30/28 |
|
355 |
196,358 |
|
Term Loan, 7.584%, (3 mo. USD Term SOFR +
3.50%), 6/30/28 |
|
70 |
38,954 |
|
Kenan Advantage Group, Inc., Term Loan, 6.981%,
(1 mo. USD Term SOFR + 3.25%), 1/25/29 |
|
393 |
394,213 |
|
|
|
|
$ 1,321,905 |
|
Software — 2.5% | |||
|
Applied Systems, Inc., Term Loan, 5.982%, (3 mo.
USD Term SOFR + 2.25%), 2/24/31 |
|
650 |
$ 640,363 |
|
Bending Spoons U.S., Inc., Term Loan, 9.292%, (1 mo.
USD Term SOFR + 5.88%), 3/7/31 |
|
235 |
236,132 |
|
Boxer Parent Co., Inc., Term Loan, 6.416%, (3 mo.
USD Term SOFR + 2.75%), 7/30/31 |
|
777 |
709,472 |
|
Cloud Software Group, Inc.: |
|
|
|
|
Term Loan, 6.982%, (3 mo. USD Term SOFR +
3.25%), 8/13/32 |
|
794 |
713,385 |
|
Term Loan, 3/21/31(15)
|
|
250 |
227,326 |
|
Cloudera, Inc., Term Loan, 7.581%, (1 mo. USD Term
SOFR + 3.75%), 10/8/28 |
|
535 |
475,286 |
|
Clover Holdings 2 LLC, Term Loan, 7.426%, (1 mo.
USD Term SOFR + 3.75%), 12/9/31 |
|
593 |
581,391 |
|
Cyberswift U.S. Finco LLC, Term Loan, 10/8/32(15)
|
|
300 |
300,657 |
|
Dayforce, Inc., Term Loan, 6.823%, (3 mo. USD Term
SOFR + 3.00%), 2/4/33 |
|
550 |
512,971 |
|
Delta TopCo, Inc., Term Loan, 6.402%, (3 mo. USD
Term SOFR + 2.75%), 11/30/29 |
|
398 |
381,966 |
|
Drake Software LLC, Term Loan, 7.982%, (3 mo. USD
Term SOFR + 4.25%), 6/26/31 |
|
306 |
292,556 |
|
Epicor Software Corp., Term Loan, 6.481%, (1 mo.
USD Term SOFR + 2.75%), 5/30/31 |
|
774 |
740,541 |
|
Finastra USA, Inc., Term Loan, 7.746%, (6 mo. USD
Term SOFR + 4.00%), 9/15/32 |
|
175 |
168,383 |
|
Borrower/Description |
Principal
Amount*
(000's omitted) |
Value | |
|
Software (continued) | |||
|
IGT Holding IV AB, Term Loan, 6.732%, (3 mo. USD
Term SOFR + 3.00%), 9/1/31 |
|
299 |
$ 297,754 |
|
Marcel LUX IV SARL, Term Loan, 6.62%, (1 mo. USD
Term SOFR + 3.00%), 11/12/30 |
|
415 |
407,889 |
|
McAfee LLC, Term Loan, 6.731%, (1 mo. USD Term
SOFR + 3.00%), 3/1/29 |
|
667 |
605,057 |
|
MIS Acquisition LLC, Term Loan, 8.164%, (3 mo. USD
Term SOFR + 4.50%), 4/22/31 |
|
350 |
323,531 |
|
OceanKey (U.S.) II Corp., Term Loan, 12/15/28(15)
|
|
199 |
192,081 |
|
OID-OL Intermediate I LLC, Term Loan, 9.823%,
(3 mo. USD Term SOFR + 6.00%), 2/1/29 |
|
110 |
106,830 |
|
Open Text Corp., Term Loan, 5.481%, (1 mo. USD Term
SOFR + 1.75%), 1/31/30 |
|
317 |
314,815 |
|
Polaris Newco LLC, Term Loan, 8.084%, (3 mo. USD
Term SOFR + 4.00%), 6/2/28 |
|
454 |
406,557 |
|
Project Alpha Intermediate Holding, Inc., Term Loan,
6.982%, (3 mo. USD Term SOFR + 3.25%),
10/26/30 |
|
297 |
232,979 |
|
Project Boost Purchaser LLC, Term Loan, 6.482%,
(3 mo. USD Term SOFR + 2.75%), 7/16/31 |
|
670 |
656,446 |
|
Proofpoint, Inc.: |
|
|
|
|
Term Loan, 6.732%, (3 mo. USD Term SOFR +
3.00%), 8/31/28 |
|
249 |
244,726 |
|
Term Loan, 8/30/30(15)
|
|
192 |
189,242 |
|
Quartz Acquireco LLC, Term Loan, 5.982%, (3 mo.
USD Term SOFR + 2.25%), 6/28/30 |
|
224 |
190,199 |
|
RealPage, Inc., Term Loan, 6.994%, (3 mo. USD Term
SOFR + 3.00%), 4/24/28 |
|
448 |
429,851 |
|
Rocket Software, Inc., Term Loan, 7.481%, (1 mo. USD
Term SOFR + 3.75%), 11/28/28 |
|
199 |
192,577 |
|
Sabre GLBL, Inc.: |
|
|
|
|
Term Loan, 9.831%, (1 mo. USD Term SOFR +
6.00%), 11/15/29 |
|
277 |
245,443 |
|
Term Loan, 10.081%, (1 mo. USD Term SOFR +
6.25%), 7/30/29 |
|
53 |
46,762 |
|
SkillSoft Corp., Term Loan, 9.095%, (1 mo. USD Term
SOFR + 5.25%), 7/14/28 |
|
382 |
195,365 |
|
SolarWinds Holdings, Inc., Term Loan, 7.671%, (3 mo.
USD Term SOFR + 4.00%), 4/16/32 |
|
394 |
309,546 |
|
UKG, Inc., Term Loan, 6.073%, (3 mo. USD Term SOFR
+ 2.25%), 2/10/31 |
|
775 |
745,564 |
|
Vision Solutions, Inc., Term Loan, 8.084%, (3 mo. USD
Term SOFR + 4.00%), 4/24/28 |
|
594 |
480,719 |
|
|
|
|
$ 12,794,362 |
|
Specialty Retail — 1.0% | |||
|
EG America LLC, Term Loan, 2/10/31(15)
|
|
300 |
$ 301,593 |
|
Great Outdoors Group LLC, Term Loan, 6.981%, (1 mo.
USD Term SOFR + 3.25%), 1/23/32 |
|
693 |
696,902 |
|
Borrower/Description |
Principal
Amount*
(000's omitted) |
Value | |
|
Specialty Retail (continued) | |||
|
Harbor Freight Tools USA, Inc., Term Loan, 5.981%,
(1 mo. USD Term SOFR + 2.25%), 6/11/31 |
|
517 |
$ 517,544 |
|
Les Schwab Tire Centers, Term Loan, 6.166%, (3 mo.
USD Term SOFR + 2.50%), 4/23/31 |
|
1 |
630 |
|
Mavis Tire Express Services Corp., Term Loan,
6.669%, (6 mo. USD Term SOFR + 3.00%),
5/4/28 |
|
689 |
688,911 |
|
Men's Wearhouse, Inc., Term Loan, 9.414%, (3 mo.
USD Term SOFR + 5.75%), 1/28/31 |
|
352 |
355,623 |
|
PetSmart, Inc., Term Loan, 7.724%, (1 mo. USD Term
SOFR + 4.00%), 8/18/32 |
|
1,972 |
1,978,654 |
|
Speedster Bidco GmbH, Term Loan, 6.482%, (3 mo.
USD Term SOFR + 2.75%), 12/11/31 |
|
344 |
341,207 |
|
|
|
|
$ 4,881,064 |
|
Technology Hardware, Storage & Peripherals — 0.1% | |||
|
CompoSecure Holdings LLC, Term Loan, 5.918%,
(3 mo. USD Term SOFR + 2.25%), 1/14/33 |
|
465 |
$ 464,237 |
|
|
|
|
$ 464,237 |
|
Trading Companies & Distributors — 0.9% | |||
|
BCPE Empire Holdings, Inc., Term Loan, 7.231%,
(1 mo. USD Term SOFR + 3.50%), 12/29/32 |
|
399 |
$ 395,136 |
|
CD&R Hydra Buyer, Inc., Term Loan, 7.831%, (1 mo.
USD Term SOFR + 4.00%), 3/25/31 |
|
489 |
491,262 |
|
DXP Enterprises, Inc., Term Loan, 6.981%, (1 mo. USD
Term SOFR + 3.25%), 10/11/30 |
|
298 |
299,548 |
|
Park River Holdings, Inc., Term Loan, (3 mo. USD Term
SOFR + 4.50%), 3/15/31(15)
|
|
1,344 |
1,346,478 |
|
Spin Holdco, Inc.: |
|
|
|
|
Term Loan, 9.182%, (3 mo. USD Term SOFR +
5.43%), 9/4/30 |
|
124 |
127,690 |
|
Term Loan - Second Lien, 8.014%, (3 mo. USD
Term SOFR + 4.00%), 9/4/30 |
|
311 |
231,446 |
|
White Cap Buyer LLC, Term Loan, 6.981%, (1 mo. USD
Term SOFR + 3.25%), 10/19/29 |
|
858 |
858,578 |
|
Windsor Holdings III LLC, Term Loan, 6.481%, (1 mo.
USD Term SOFR + 2.75%), 8/1/30 |
|
595 |
597,476 |
|
|
|
|
$ 4,347,614 |
|
Transportation Infrastructure — 0.4% | |||
|
Brown Group Holding LLC, Term Loan, 6.166% -
6.231%, (1 mo. USD Term SOFR + 2.50%, 3 mo.
USD Term SOFR + 2.50%), 7/1/31 |
|
861 |
$ 863,738 |
|
Carrix, Inc.: |
|
|
|
|
Term Loan, 7/27/33(15)
|
|
354 |
353,724 |
|
Term Loan, 7/27/33(15)
|
|
71 |
70,745 |
|
Borrower/Description |
Principal
Amount*
(000's omitted) |
Value | |
|
Transportation Infrastructure (continued) | |||
|
KKR Apple Bidco LLC, Term Loan, 6.231%, (1 mo. USD
Term SOFR + 2.50%), 9/23/31 |
|
733 |
$ 735,839 |
|
|
|
|
$ 2,024,046 |
|
Total Senior Floating-Rate Loans
(identified cost $169,183,128) |
|
|
$165,925,567 |
|
U.S. Government Agency Mortgage-Backed Securities — 0.3% |
|
Security |
Principal
Amount
(000's omitted) |
Value | |
|
Government National Mortgage Association, 5.50%,
7/20/56(18)
|
$ |
1,675 |
$ 1,667,287 |
|
Total U.S. Government Agency Mortgage-Backed Securities
(identified cost $1,672,514) |
|
|
$ 1,667,287 |
|
Miscellaneous — 0.0% |
|
Security |
Principal
Amount |
Value | |
|
Energy — 0.0% | |||
|
Enviva LLC, Escrow Certificates(5)(7)
|
$ |
565,000 |
$ 0 |
|
|
|
|
$ 0 |
|
Entertainment — 0.0% | |||
|
National CineMedia, Inc., Escrow Certificates(5)(7)
|
$ |
333,000 |
$ 0 |
|
|
|
|
$ 0 |
|
Surface Transport — 0.0% | |||
|
Hertz Corp., Escrow Certificates(5)(7)
|
$ |
105,000 |
$ 0 |
|
|
|
|
$ 0 |
|
Total Miscellaneous
(identified cost $0) |
|
|
$ 0 |
|
Short-Term Investments — 2.9% |
|
Affiliated Fund — 2.7% |
|
Security |
Shares |
Value | |
|
Morgan Stanley Institutional Liquidity Funds -
Government Portfolio, Institutional Class, 3.59%(19)
|
|
13,911,882 |
$ 13,911,882 |
|
Total Affiliated Fund
(identified cost $13,911,882) |
|
|
$ 13,911,882 |
|
U.S. Treasury Obligations — 0.2% |
|
Security |
Principal
Amount
(000's omitted) |
Value | |
|
U.S. Treasury Bills, 0.00%, 10/22/26(18)
|
$ |
1,070 |
$ 1,061,259 |
|
Total U.S. Treasury Obligations
(identified cost $1,061,164) |
|
|
$ 1,061,259 |
|
Total Short-Term Investments
(identified cost $14,973,046) |
|
|
$ 14,973,141 |
|
Total Investments — 100.7%
(identified cost $510,894,139) |
|
|
$507,605,874 |
|
Less Unfunded Loan Commitments — (0.1)% |
|
|
$ (556,571) |
|
Net Investments — 100.6%
(identified cost $510,337,568) |
|
|
$507,049,303 |
|
Other Assets, Less Liabilities — (0.6)% |
|
|
$ (3,216,317) |
|
Net Assets — 100.0% |
|
|
$503,832,986 |
|
The percentage shown for each investment category in the Portfolio of
Investments is based on net assets. | |
|
†
|
Amount is less than 0.05% or (0.05)%, as applicable. |
|
* |
In U.S. dollars unless otherwise indicated. |
|
(1)
|
Security exempt from registration under Rule 144A of the Securities Act
of 1933, as amended. These securities may be sold in certain
transactions in reliance on an exemption from registration (normally to
qualified institutional buyers). At July 31, 2026, the aggregate value of
these securities is $262,740,175 or 52.1% of the Fund's net assets. |
|
(2)
|
Variable rate security. The stated interest rate represents the rate in effect
at July 31, 2026. |
|
(3)
|
Step coupon security. Interest rate represents the rate in effect at
July 31, 2026. |
|
(4)
|
Weighted average fixed-rate coupon that changes/updates monthly. Rate
shown is the rate at July 31, 2026. |
|
(5)
|
Non-income producing security. |
|
(6)
|
Security was acquired in connection with a restructuring of a Senior Loan
and may be subject to restrictions on resale. |
|
(7)
|
Security is valued using significant unobservable inputs and is
categorized as Level 3 in the fair value hierarchy. |
|
(8)
|
Restricted security. |
|
(9)
|
Security exempt from registration under Regulation S of the Securities
Act of 1933, as amended, which exempts from registration securities
offered and sold outside the United States. Security may not be offered
or sold in the United States except pursuant to an exemption from, or in
a transaction not subject to, the registration requirements of the
Securities Act of 1933, as amended. At July 31, 2026, the aggregate
value of these securities is $47,173,522 or 9.4% of the Fund's net
assets. |
|
(10)
|
Represents a payment-in-kind security which may pay interest in
additional principal at the issuer’s discretion. |
|
(11)
|
When-issued security. |
|
(12)
|
Perpetual security with no stated maturity date but may be subject to
calls by the issuer. |
|
(13)
|
Security converts to variable rate after the indicated fixed-rate coupon
period. |
|
(14)
|
Senior floating-rate loans (Senior Loans) often require prepayments from
excess cash flows or permit the borrowers to repay at their election. The
degree to which borrowers repay, whether as a contractual requirement
or at their election, cannot be predicted with accuracy. As a result, the
actual remaining maturity may be substantially less than the stated
maturities shown. However, Senior Loans will typically have an expected
average life of approximately two to four years. Senior Loans typically
have rates of interest which are redetermined periodically by reference to
a base lending rate, plus a spread. These base lending rates are
primarily the Secured Overnight Financing Rate (“SOFR”) and
secondarily, the prime rate offered by one or more major United States
banks (the “Prime Rate”). Base lending rates may be subject to a floor,
or minimum rate. Rates for SOFR are generally 1 or 3-month tenors and
may also be subject to a credit spread adjustment. Senior Loans are
generally subject to contractual restrictions that must be satisfied before
they can be bought or sold. |
|
(15)
|
This Senior Loan will settle after July 31, 2026, at which time the
interest rate will be determined. |
|
(16)
|
Unfunded or partially unfunded loan commitments. The stated interest
rate reflects the reference rate and spread for the funded portion, if any.
At July 31, 2026, the total value of unfunded loan commitments is
$705,243. |
|
(17)
|
The issuer is in default on the payment of principal but continues to pay
interest. |
|
(18)
|
Security (or a portion thereof) has been pledged to cover collateral
requirements on open derivative contracts. |
|
(19)
|
May be deemed to be an affiliated investment company. The rate shown
is the annualized seven-day yield as of July 31, 2026. |
|
Forward Foreign Currency Exchange Contracts (OTC) | |||||||
|
Currency Purchased |
Currency Sold |
Counterparty |
Settlement
Date |
Unrealized
Appreciation |
Unrealized
(Depreciation) | ||
|
USD |
184,060 |
CAD |
256,753 |
State Street Bank and Trust Company |
9/14/26 |
$582 |
$ — |
|
EUR |
3,217,028 |
USD |
3,744,665 |
Bank of America, N.A. |
9/16/26 |
— |
(28,639
) |
|
EUR |
30,847 |
USD |
35,905 |
Citibank, N.A. |
9/16/26 |
— |
(273
) |
|
Forward Foreign Currency Exchange Contracts (OTC) (continued) | |||||||
|
Currency Purchased |
Currency Sold |
Counterparty |
Settlement
Date |
Unrealized
Appreciation |
Unrealized
(Depreciation) | ||
|
EUR |
300,000 |
USD |
342,610 |
State Street Bank and Trust Company |
9/16/26 |
$3,923 |
$ — |
|
GBP |
1,583,651 |
USD |
2,124,137 |
Bank of America, N.A. |
9/16/26 |
10,181 |
— |
|
GBP |
47,327 |
USD |
63,475 |
Citibank, N.A. |
9/16/26 |
309 |
— |
|
GBP |
500,000 |
USD |
668,315 |
State Street Bank and Trust Company |
9/16/26 |
5,545 |
— |
|
USD |
688,515 |
EUR |
600,000 |
Bank of America, N.A. |
9/16/26 |
— |
(4,552
) |
|
USD |
2,281,351 |
EUR |
1,963,744 |
Citibank, N.A. |
9/16/26 |
13,007 |
— |
|
USD |
105,256 |
EUR |
90,326 |
Citibank, N.A. |
9/16/26 |
919 |
— |
|
USD |
57,733,633 |
EUR |
49,695,128 |
State Street Bank and Trust Company |
9/16/26 |
330,210 |
— |
|
USD |
504,537 |
EUR |
432,985 |
State Street Bank and Trust Company |
9/16/26 |
4,391 |
— |
|
USD |
296,956 |
EUR |
255,289 |
State Street Bank and Trust Company |
9/16/26 |
2,069 |
— |
|
USD |
456,447 |
EUR |
400,000 |
State Street Bank and Trust Company |
9/16/26 |
— |
(5,597
) |
|
USD |
916,173 |
EUR |
800,000 |
State Street Bank and Trust Company |
9/16/26 |
— |
(7,916
) |
|
USD |
154,856 |
GBP |
115,392 |
Citibank, N.A. |
9/16/26 |
— |
(660
) |
|
USD |
3,588,460 |
GBP |
2,676,382 |
Citibank, N.A. |
9/16/26 |
— |
(18,553
) |
|
USD |
137,318 |
GBP |
102,322 |
Goldman Sachs International |
9/16/26 |
— |
(584
) |
|
USD |
14,394,798 |
GBP |
10,735,555 |
State Street Bank and Trust Company |
9/16/26 |
— |
(73,723
) |
|
USD |
676,630 |
EUR |
592,200 |
State Street Bank and Trust Company |
9/30/26 |
— |
(7,803
) |
|
|
|
|
|
|
|
$371,136 |
$(148,300
) |
|
Futures Contracts | |||||
|
Description |
Number of
Contracts |
Position |
Expiration
Date |
Notional
Amount |
Value/Unrealized
Appreciation
(Depreciation) |
|
Interest Rate Futures |
|
|
|
|
|
|
U.S. 10-Year Treasury Note |
(77
) |
Short |
9/21/26 |
$(8,316,000
) |
$122,659 |
|
U.S. Long Treasury Bond |
(26
) |
Short |
9/21/26 |
(2,816,125
) |
90,980 |
|
|
|
|
|
|
$213,639 |
|
Credit Default Swaps - Sell Protection (OTC) | ||||||||
|
Reference Entity |
Counterparty |
Notional
Amount(1)
(000's omitted) |
Contract Annual
Fixed Rate(2) |
Current
Market
Annual
Fixed Rate(3) |
Termination
Date |
Value |
Unamortized
Upfront
Receipts
(Payments) |
Unrealized
Appreciation
(Depreciation) |
|
U.S. Land Banking |
Goldman Sachs
Bank USA |
$1,500 |
5.50%
(pays monthly) |
6.01
% |
10/10/29 |
$(15,249
) |
$ — |
$(15,249
) |
|
U.S. Single Family
Rental |
Goldman Sachs
International |
1,463 |
7.85%
(pays monthly) |
8.22 |
3/18/28 |
10,838 |
818 |
11,656 |
|
Total |
|
$2,963 |
|
|
|
$(4,411
) |
$818 |
$(3,593
) |
|
(1)
|
If the Fund is the seller of credit protection, the notional amount is the maximum potential amount of future payments the Fund could be required to
make if a credit event, as defined in the credit default swap agreement, were to occur. At July 31, 2026, such maximum potential amount for all open
credit default swaps in which the Fund is the seller was $2,963,000. |
|
(2)
|
The contract annual fixed rate represents the fixed rate of interest received by the Fund (as a seller of protection) or paid by the Fund (as a buyer of
protection) on the notional amount of the credit default swap contract. |
|
(3)
|
Current market annual fixed rates, utilized in determining the net unrealized appreciation or depreciation as of period end, serve as an indicator of the
market’s perception of the current status of the payment/performance risk associated with the credit derivative. The current market annual fixed rate of a
particular reference entity reflects the cost, as quoted by the pricing vendor, of selling protection against default of that entity as of period end and may
include upfront payments required to be made to enter into the agreement. The higher the fixed rate, the greater the market perceived risk of a credit
event involving the reference entity. A rate identified as “Defaulted” indicates a credit event has occurred for the reference entity. |
|
Abbreviations: | |
|
EURIBOR |
– Euro Interbank Offered Rate |
|
OTC |
– Over-the-counter |
|
PIK |
– Payment In Kind |
|
SOFR |
– Secured Overnight Financing Rate |
|
SONIA |
– Sterling Overnight Interbank Average |
|
Currency Abbreviations: | |
|
CAD |
– Canadian Dollar |
|
EUR |
– Euro |
|
GBP |
– British Pound Sterling |
|
USD |
– United States Dollar |
|
Description |
Date(s) of
Acquisition |
Shares |
Cost |
Value |
|
Common Stocks |
|
|
|
|
|
Enviva LLC |
12/6/24 |
13,431 |
$94,823 |
$262,744 |
|
Total Common Stocks |
|
|
$94,823 |
$262,744 |
|
Convertible Preferred Stocks |
|
|
|
|
|
QXO, Inc., 4.75% |
3/20/26,6/26/26 |
132 |
$1,320,058 |
$946,911 |
|
Total Convertible Preferred Stocks |
|
|
$1,320,058 |
$946,911 |
|
Total Restricted Securities |
|
|
$1,414,881 |
$1,209,655 |
|
Name |
Value,
beginning
of period |
Purchases |
Sales
proceeds |
Net
realized
gain (loss) |
Change in
unrealized
appreciation
(depreciation) |
Value, end
of period |
Dividend
income |
Shares,
end of period |
|
Short-Term Investments |
|
|
|
|
|
|
|
|
|
Liquidity Fund, Institutional Class(1)
|
$12,545,504 |
$146,444,861 |
$(145,078,483) |
$ — |
$ — |
$13,911,882 |
$398,493 |
13,911,882 |
|
(1)
|
Represents investment in Morgan Stanley Institutional Liquidity Funds - Government Portfolio. |
|
Asset Description |
Level 1 |
Level 2 |
Level 3* |
Total |
|
Asset-Backed Securities |
$ — |
$52,769,890 |
$ — |
$52,769,890 |
|
Collateralized Mortgage Obligations |
— |
37,720,733 |
— |
37,720,733 |
|
Commercial Mortgage-Backed Securities |
— |
19,572,019 |
— |
19,572,019 |
|
Common Stocks |
112,500 |
514,045 |
1,314,033 |
1,940,578 |
|
Convertible Bonds |
— |
1,316,715 |
— |
1,316,715 |
|
Convertible Preferred Stocks |
— |
— |
946,911 |
946,911 |
|
Corporate Bonds |
— |
210,623,848 |
— |
210,623,848 |
|
Preferred Stocks |
— |
77,701 |
71,484 |
149,185 |
|
Senior Floating-Rate Loans (Less Unfunded Loan Commitments) |
— |
163,720,127 |
1,648,869 |
165,368,996 |
|
U.S. Government Agency Mortgage-Backed Securities |
— |
1,667,287 |
— |
1,667,287 |
|
Miscellaneous |
— |
— |
0 |
0 |
|
Short-Term Investments: |
|
|
|
|
|
Affiliated Fund |
13,911,882 |
— |
— |
13,911,882 |
|
U.S. Treasury Obligations |
— |
1,061,259 |
— |
1,061,259 |
|
Total Investments |
$14,024,382 |
$489,043,624 |
$3,981,297 |
$507,049,303 |
|
Forward Foreign Currency Exchange Contracts |
$ — |
$371,136 |
$ — |
$371,136 |
|
Futures Contracts |
213,639 |
— |
— |
213,639 |
|
Swap Contracts |
— |
10,838 |
— |
10,838 |
|
Total |
$14,238,021 |
$489,425,598 |
$3,981,297 |
$507,644,916 |
|
Liability Description |
Level 1 |
Level 2 |
Level 3 |
Total |
|
Forward Foreign Currency Exchange Contracts |
$ — |
$(148,300
) |
$ — |
$(148,300
) |
|
Swap Contracts |
— |
(15,249
) |
— |
(15,249
) |
|
Total |
$ — |
$(163,549
) |
$ — |
$(163,549
) |
|
* |
None of the unobservable inputs for Level 3 assets, individually or collectively, had a material impact on the Fund. |