|
|
Par
Value(1)
|
Value
|
|
U.S. Government Securities—2.0%
|
||
|
U.S. Treasury Bonds
|
|
|
|
4.500%, 11/15/54(2)
|
$35
|
$31
|
|
4.625%, 2/15/55
|
880
|
798
|
|
4.750%, 5/15/55
|
665
|
615
|
|
U.S. Treasury Notes
3.750%, 8/15/27
|
325
|
323
|
|
Total U.S. Government Securities
(Identified Cost $1,843)
|
1,767
|
|
|
|
|
|
|
|
||
|
Foreign Government Securities—51.6%
|
||
|
Arab Republic of Egypt
|
|
|
|
144A
8.625%, 2/4/30(3)
|
353
|
376
|
|
144A
7.053%, 1/15/32(3)
|
280
|
280
|
|
144A
6.875%, 4/30/40(3)
|
106
|
99
|
|
144A
8.500%, 1/31/47(3)
|
651
|
624
|
|
144A
8.750%, 9/30/51(3)
|
244
|
235
|
|
Benin Government
International Bond 144A
7.960%, 2/13/38(3)
|
150
|
159
|
|
Brazil Notas do Tesouro
Nacional
|
|
|
|
Series F
10.000%, 1/1/29
|
2,740
BRL
|
490
|
|
Series F
10.000%, 1/1/31
|
3,070
BRL
|
513
|
|
Bulgaria Government
International Bond RegS
5.000%, 3/5/37(4)
|
94
|
90
|
|
Costa Rica Government
|
|
|
|
144A
6.550%, 4/3/34(3)
|
190
|
199
|
|
144A
7.300%, 11/13/54(3)
|
85
|
92
|
|
Czech Republic Government
Bond
1.750%, 6/23/32
|
17,580
CZK
|
720
|
|
Dominican Republic
|
|
|
|
144A
5.875%, 10/28/35(3)
|
373
|
362
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Foreign Government Securities—continued
|
||
|
144A
6.850%, 1/27/45(3)
|
$305
|
$304
|
|
RegS
6.950%, 3/15/37(4)
|
679
|
704
|
|
Eagle Funding Luxco S.a.r.l.
144A
5.500%, 8/17/30(2)(3)
|
318
|
318
|
|
Federal Republic of Ethiopia
144A
6.625%, 12/11/26(3)(5)
|
79
|
85
|
|
Federative Republic of Brazil
|
|
|
|
6.000%, 10/20/33(2) |
163
|
162
|
|
6.625%, 3/15/35 |
405
|
409
|
|
6.250%, 5/22/36 |
657
|
636
|
|
7.250%, 1/12/56 |
516
|
496
|
|
Hungary Government Bond
2.250%, 4/20/33(2)
|
97,000
HUF
|
253
|
|
Hungary Government
International Bond
|
|
|
|
144A
6.250%, 9/22/32(2)(3)
|
294
|
308
|
|
144A
5.500%, 6/16/34(2)(3)
|
173
|
173
|
|
144A
6.000%, 9/26/35(2)(3)
|
112
|
114
|
|
144A
5.500%, 3/26/36(3)
|
1,011
|
995
|
|
Islamic Republic of Pakistan
144A
7.375%, 4/8/31(3)
|
154
|
155
|
|
Kingdom of Bahrain
|
|
|
|
144A
7.375%, 5/14/30(3)
|
316
|
316
|
|
144A
5.625%, 5/18/34(3)
|
171
|
152
|
|
144A
7.125%, 6/10/36(3)
|
494
|
473
|
|
144A
6.625%, 10/6/37(3)
|
276
|
251
|
|
144A
7.100%, 2/3/38(3)
|
374
|
351
|
|
KSA Ijarah Sukuk Ltd. 144A
4.875%, 9/9/35(2)(3)
|
67
|
65
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Foreign Government Securities—continued
|
||
|
Kuwait International Bond
144A
5.157%, 7/29/31(2)(3)
|
$523
|
$523
|
|
Lebanon Government
International Bond RegS
6.100%, 10/4/22(4)(5)
|
515
|
142
|
|
Malaysia Government Bond
|
|
|
|
2.632%, 4/15/31(2) |
3,280
MYR
|
780
|
|
4.642%, 11/7/33(2) |
980
MYR
|
256
|
|
Mex Bonos Desarr
|
|
|
|
8.500%, 5/31/29 |
8,830
MXN
|
528
|
|
7.500%, 5/26/33 |
4,670
MXN
|
254
|
|
7.750%, 11/13/42 |
4,700
MXN
|
232
|
|
Oman Government
International Bond
|
|
|
|
144A
6.250%, 1/25/31(3)
|
392
|
407
|
|
144A
6.500%, 3/8/47(3)
|
1,035
|
1,051
|
|
Republic of Angola
|
|
|
|
144A
9.244%, 1/15/31(3)
|
71
|
75
|
|
144A
8.750%, 4/14/32(3)
|
105
|
107
|
|
144A
9.875%, 10/15/35(3)
|
305
|
322
|
|
144A
9.875%, 3/31/37(3)
|
447
|
463
|
|
Republic of Argentina
|
|
|
|
0.750%, 7/9/30(6) |
595
|
515
|
|
4.125%, 7/9/35(6) |
425
|
321
|
|
3.500%, 7/9/41(6) |
266
|
188
|
|
4.125%, 7/9/46(6) |
1,040
|
739
|
|
Republic of Cameroon
|
|
|
|
RegS
9.500%, 7/31/31(4)
|
250
|
253
|
|
RegS
8.875%, 1/30/33(4)
|
200
|
197
|
|
Republic of Chile
|
|
|
|
3.500%, 1/31/34 |
37
|
33
|
|
4.950%, 1/5/36(2) |
448
|
433
|
|
5.650%, 1/13/37(2) |
160
|
162
|
|
3.100%, 5/7/41(2) |
202
|
149
|
|
5.330%, 1/5/54(2) |
505
|
461
|
|
Republic of Colombia
|
|
|
|
7.375%, 4/25/30 |
699
|
734
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Foreign Government Securities—continued
|
||
|
6.125%, 1/21/31(2) |
$133
|
$133
|
|
7.500%, 2/2/34 |
556
|
583
|
|
7.750%, 11/7/36(2) |
124
|
132
|
|
Republic of Congo RegS
9.500%, 5/26/36(4)
|
308
|
298
|
|
Republic of Ecuador
|
|
|
|
144A
9.250%, 1/29/39(3)
|
200
|
202
|
|
RegS
6.900%, 7/31/35(4)(6)
|
847
|
774
|
|
RegS
5.500%, 7/31/40(4)(6)
|
631
|
516
|
|
Republic of El Salvador RegS
7.625%, 2/1/41(4)
|
95
|
96
|
|
Republic of Gabon 144A
6.625%, 2/6/31(3)
|
364
|
316
|
|
Republic of Ghana
|
|
|
|
144A
0.000%, 1/3/30(3)(7)
|
11
|
10
|
|
RegS
0.000%, 1/3/30(4)(7)
|
9
|
8
|
|
RegS
5.000%, 7/3/35(4)(6)
|
197
|
184
|
|
Republic of Guatemala RegS
6.250%, 8/15/36(4)
|
98
|
100
|
|
Republic of Indonesia
|
|
|
|
2.850%, 2/14/30(2) |
196
|
183
|
|
5.600%, 1/15/35(2) |
654
|
655
|
|
5.690%, 5/29/36(2) |
268
|
268
|
|
5.100%, 2/10/54 |
59
|
51
|
|
3.200%, 9/23/61 |
63
|
36
|
|
Republic of Ivory Coast
|
|
|
|
144A
8.075%, 4/1/36(3)
|
14
|
15
|
|
144A
8.250%, 1/30/37(3)
|
116
|
126
|
|
Republic of Kazakhstan
|
|
|
|
144A
4.412%, 10/28/30(3)
|
265
|
261
|
|
144A
5.500%, 7/1/37(3)
|
485
|
484
|
|
Republic of Kenya
|
|
|
|
144A
8.000%, 5/22/32(3)
|
65
|
66
|
|
144A
7.875%, 2/26/34(3)
|
222
|
220
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Foreign Government Securities—continued
|
||
|
144A
9.500%, 3/5/36(3)
|
$49
|
$52
|
|
144A
8.700%, 2/26/39(3)
|
279
|
274
|
|
Republic of Nigeria
|
|
|
|
144A
10.375%, 12/9/34(3)
|
475
|
566
|
|
144A
7.696%, 2/23/38(3)
|
123
|
125
|
|
144A
9.130%, 1/13/46(3)
|
249
|
274
|
|
Republic of Panama
|
|
|
|
7.500%, 3/1/31 |
53
|
58
|
|
6.700%, 1/26/36(2) |
133
|
140
|
|
5.662%, 2/23/38(2) |
331
|
322
|
|
8.000%, 3/1/38 |
405
|
464
|
|
Republic of Peru
|
|
|
|
2.783%, 1/23/31 |
59
|
54
|
|
3.000%, 1/15/34(2) |
128
|
109
|
|
5.375%, 2/8/35 |
682
|
673
|
|
Republic of Philippines
|
|
|
|
4.750%, 3/5/35(2) |
354
|
337
|
|
5.325%, 6/24/36 |
92
|
90
|
|
3.700%, 3/1/41 |
425
|
333
|
|
Republic of Poland
|
|
|
|
5.750%, 11/16/32(2) |
258
|
266
|
|
4.875%, 10/4/33(2) |
454
|
444
|
|
5.125%, 9/18/34 |
58
|
57
|
|
5.375%, 2/12/35(2) |
263
|
262
|
|
5.375%, 4/14/36(2) |
43
|
42
|
|
5.500%, 4/4/53 |
85
|
76
|
|
Republic of Serbia
|
|
|
|
144A
6.000%, 6/12/34(3)
|
128
|
128
|
|
144A
5.500%, 5/6/36(3)
|
477
|
456
|
|
Republic of South Africa
|
|
|
|
5.375%, 7/24/44 |
120
|
100
|
|
5.650%, 9/27/47 |
569
|
472
|
|
8.750%, 2/28/48 |
17,000
ZAR
|
1,000
|
|
144A
6.125%, 12/11/37(3)
|
298
|
291
|
|
144A
7.950%, 11/19/54(3)
|
381
|
403
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Foreign Government Securities—continued
|
||
|
Republic of Sri Lanka
|
|
|
|
144A
3.350%, 3/15/33(3)(6)
|
$88
|
$85
|
|
144A
3.600%, 6/15/35(3)(6)
|
452
|
373
|
|
Republic of Turkiye
|
|
|
|
7.625%, 4/26/29 |
775
|
804
|
|
9.125%, 7/13/30 |
75
|
82
|
|
6.375%, 5/22/31 |
131
|
130
|
|
7.125%, 2/12/32 |
65
|
66
|
|
7.250%, 5/29/32 |
226
|
231
|
|
6.300%, 3/14/33 |
94
|
91
|
|
7.625%, 5/15/34 |
311
|
322
|
|
6.500%, 1/3/35 |
59
|
57
|
|
6.950%, 9/16/35 |
1
|
1
|
|
4.875%, 4/16/43 |
780
|
577
|
|
5.750%, 5/11/47 |
191
|
151
|
|
Republic of Zambia 144A
5.750%, 6/30/33(3)(6)
|
129
|
127
|
|
Republica Orient Uruguay
5.100%, 6/18/50(2)
|
437
|
388
|
|
Romanian Government
International Bond
|
|
|
|
144A
5.875%, 1/30/29(3)
|
227
|
229
|
|
144A
7.125%, 1/17/33(3)
|
166
|
174
|
|
144A
6.375%, 1/30/34(3)
|
481
|
480
|
|
144A
6.000%, 5/25/34(3)
|
392
|
382
|
|
144A
5.750%, 3/24/35(3)
|
169
|
161
|
|
144A
5.750%, 7/4/36(3)
|
134
|
126
|
|
Saudi International Bond
|
|
|
|
144A
5.625%, 1/13/35(2)(3)
|
373
|
379
|
|
144A
4.875%, 1/12/36(2)(3)
|
160
|
154
|
|
144A
4.500%, 10/26/46(2)(3)
|
1,051
|
829
|
|
144A
3.750%, 1/21/55(3)
|
800
|
528
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Foreign Government Securities—continued
|
||
|
RegS
5.625%, 1/13/35(2)(4)
|
$350
|
$355
|
|
Suriname Government
International Bond 144A
8.500%, 11/6/35(3)
|
247
|
266
|
|
Trinidad & Tobago Government
International Bond
|
|
|
|
144A
5.950%, 1/14/31(2)(3)
|
145
|
144
|
|
144A
6.400%, 6/26/34(2)(3)
|
7
|
7
|
|
Ukraine Government Bond
|
|
|
|
144A
4.500%, 2/1/29(3)(6)
|
119
|
102
|
|
144A
0.000%, 2/1/30(3)(6)
|
8
|
6
|
|
144A
4.000%, 2/1/32(3)(6)
|
185
|
152
|
|
144A
4.500%, 2/1/35(3)(6)
|
162
|
109
|
|
144A
0.000%, 2/1/36(3)(6)
|
86
|
50
|
|
144A
4.500%, 2/1/36(3)(6)
|
—
(8)
|
—
(8)
|
|
RegS
4.500%, 2/1/29(4)(6)
|
51
|
43
|
|
RegS
0.000%, 2/1/30(4)(6)
|
9
|
7
|
|
RegS
4.000%, 2/1/32(4)(6)
|
488
|
401
|
|
RegS
4.500%, 2/1/34(4)(6)
|
319
|
219
|
|
RegS
0.000%, 2/1/35(4)(6)
|
556
|
322
|
|
RegS
4.500%, 2/1/36(4)(6)
|
8
|
6
|
|
United Mexican States
|
|
|
|
5.375%, 3/22/33 |
547
|
530
|
|
4.875%, 5/19/33(2) |
100
|
94
|
|
3.500%, 2/12/34(2) |
302
|
255
|
|
6.250%, 8/27/37 |
538
|
528
|
|
6.625%, 1/29/38(2) |
174
|
175
|
|
3.771%, 5/24/61 |
169
|
97
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Foreign Government Securities—continued
|
||
|
3.750%, 4/19/71 |
$948
|
$519
|
|
Uzbekistan International Bond
144A
6.900%, 2/28/32(3)
|
282
|
296
|
|
Total Foreign Government
Securities
(Identified Cost $45,551)
|
45,479
|
|
|
|
|
|
|
|
||
|
Mortgage-Backed Securities—15.5%
|
||
|
Agency—7.4%
|
|
|
|
Federal Home Loan Mortgage
Corporation
|
|
|
|
Pool #SD6322
4.500%, 8/1/53
|
759
|
720
|
|
Pool #SD8492
5.000%, 1/1/55
|
435
|
420
|
|
Pool #SL1127
6.000%, 12/1/54
|
991
|
1,002
|
|
Federal National Mortgage
Association
|
|
|
|
Pool #CB0534
3.000%, 5/1/51
|
715
|
611
|
|
Pool #FA0685
6.000%, 1/1/55
|
441
|
446
|
|
Pool #FA1728
6.000%, 10/1/53
|
1,004
|
1,020
|
|
Pool #FS4438
5.000%, 11/1/52
|
713
|
694
|
|
Pool #FS7751
4.000%, 3/1/53
|
1,199
|
1,098
|
|
Pool #MA5072
5.500%, 7/1/53
|
485
|
483
|
|
|
|
6,494
|
|
|
|
|
|
|
||
|
Non-Agency—8.1%
|
|
|
|
A&D Mortgage Trust
2023-NQM3, A1 144A
6.733%, 7/25/68(2)(3)(9)
|
67
|
67
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Non-Agency—continued
|
|
|
|
Ajax Mortgage Loan Trust
2022-B, A1 144A
3.500%, 3/27/62(3)(9)
|
$358
|
$343
|
|
ALA Trust 2025-OANA, A (1
month Term SOFR +
1.743%, Cap N/A, Floor
1.743%) 144A
5.382%, 6/15/40(3)(9)
|
270
|
271
|
|
Angel Oak Mortgage Trust
|
|
|
|
2022-5, A1 144A
5.500%, 5/25/67(2)(3)(9)
|
276
|
276
|
|
2023-1, A1 144A
4.750%, 9/26/67(2)(3)(9)
|
116
|
115
|
|
Arroyo Mortgage Trust 2019-1,
A1 144A
3.805%, 1/25/49(2)(3)(9)
|
30
|
29
|
|
Benchmark Mortgage Trust
2023-B38, A2
5.626%, 4/15/56(2)
|
165
|
166
|
|
BX Trust 2019-OC11, D 144A
4.075%, 12/9/41(3)(9)
|
410
|
386
|
|
CENT 2025-CITY, A 144A
5.091%, 7/10/40(3)(9)
|
330
|
326
|
|
CIM Trust 2022-R2, A1 144A
3.750%, 12/25/61(2)(3)(9)
|
234
|
218
|
|
COLT Mortgage Loan Trust
2026-3, A1 144A
5.119%, 5/25/71(2)(3)(9)
|
320
|
316
|
|
Deephaven Residential
Mortgage Trust 2026-INV3,
A1 144A
5.473%, 6/25/71(2)(3)(9)
|
337
|
335
|
|
EFMT 2025-NQM2, A1 144A
5.596%, 6/25/70(2)(3)(9)
|
142
|
142
|
|
Ellington Financial Mortgage
Trust 2019-2, A3 144A
3.046%, 11/25/59(2)(3)(9)
|
8
|
8
|
|
Fashion Show Mall LLC
2024-SHOW, A 144A
5.274%, 10/10/41(3)(9)
|
280
|
279
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Non-Agency—continued
|
|
|
|
Hudson Yards Mortgage Trust
2025-SPRL, A 144A
5.649%, 1/13/40(3)(9)
|
$250
|
$252
|
|
JPMorgan Chase Mortgage
Trust
|
|
|
|
2014-5, B2 144A
2.436%, 10/25/29(2)(3)(9)
|
163
|
158
|
|
2017-4, A13 144A
3.500%, 11/25/48(2)(3)(9)
|
277
|
249
|
|
2026-ACES1, A1 144A
4.894%, 4/25/66(2)(3)(9)
|
259
|
254
|
|
MIRA Trust 2023-MILE, A
144A
6.755%, 6/10/38(3)
|
170
|
173
|
|
New Residential Mortgage
Loan Trust 2018-3A, A1
144A
4.500%, 5/25/58(2)(3)(9)
|
293
|
283
|
|
NYC Commercial Mortgage
Trust 2025-300P, A 144A
4.879%, 7/13/42(3)(9)
|
425
|
417
|
|
PRPM Trust 2026-R1, A-1
144A
5.000%, 1/25/68(2)(3)(9)
|
227
|
223
|
|
RCKT Mortgage Trust
2024-CES3, A1A 144A
6.591%, 5/25/44(3)(9)
|
194
|
195
|
|
RFR Trust 2025-SGRM, A
144A
5.562%, 3/11/41(3)(9)
|
345
|
345
|
|
ROCK Trust 2024-CNTR, C
144A
6.471%, 11/13/41(3)
|
215
|
219
|
|
Towd Point Mortgage Trust
|
|
|
|
2016-4, B1 144A
3.926%, 7/25/56(2)(3)(9)
|
260
|
251
|
|
2017-1, M1 144A
3.750%, 10/25/56(2)(3)(9)
|
210
|
207
|
|
2017-4, A2 144A
3.000%, 6/25/57(3)(9)
|
371
|
353
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Non-Agency—continued
|
|
|
|
2018-6, A2 144A
3.750%, 3/25/58(2)(3)(9)
|
$215
|
$195
|
|
Verus Securitization Trust
2023-8, A1 144A
6.259%, 12/25/68(2)(3)(9)
|
121
|
120
|
|
|
|
7,171
|
|
|
|
|
|
|
||
|
Total Mortgage-Backed
Securities
(Identified Cost $13,904)
|
13,665
|
|
|
|
|
|
|
|
||
|
Asset-Backed Securities—10.3%
|
||
|
Automobiles—4.5%
|
|
|
|
Arivo Acceptance Auto Loan
Receivables Trust
|
|
|
|
2024-1A, B 144A
6.870%, 6/17/30(3)
|
396
|
400
|
|
2025-1A, A2 144A
4.920%, 5/15/29(3)
|
189
|
189
|
|
Carmax Select Receivables
Trust 2025-B, C
4.830%, 6/16/31
|
335
|
333
|
|
DT Auto Owner Trust 2023-1A,
D 144A
6.440%, 11/15/28(3)
|
331
|
334
|
|
Exeter Automobile Receivables
Trust 2026-3A, D
5.440%, 10/15/32
|
300
|
298
|
|
FHF Issuer Trust 2026-1A, B
144A
5.770%, 2/17/32(3)
|
330
|
330
|
|
Flagship Credit Auto Trust
2024-1, D 144A
6.300%, 4/15/30(3)
|
400
|
379
|
|
Huntington Bank Auto
Credit-Linked Notes 2024-1,
B1 144A
6.153%, 5/20/32(3)
|
80
|
80
|
|
LAD Auto Receivables Trust
2023-2A, D 144A
6.300%, 2/15/31(3)
|
365
|
367
|
|
Lendbuzz Securitization Trust
2024-2A, A2 144A
5.990%, 5/15/29(3)
|
183
|
183
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Automobiles—continued
|
|
|
|
OneMain Direct Auto
Receivables Trust 2022-1A,
C 144A
5.310%, 6/14/29(3)
|
$320
|
$320
|
|
U.S. Bank N.A. 2023-1, B 144A
6.789%, 8/25/32(3)
|
29
|
29
|
|
Veros Auto Receivables Trust
2024-1, C 144A
7.570%, 12/15/28(3)
|
350
|
355
|
|
Westlake Automobile
Receivables Trust 2026-1A,
C 144A
4.370%, 6/16/31(3)
|
330
|
327
|
|
|
|
3,924
|
|
|
|
|
|
|
||
|
Other—5.8%
|
|
|
|
Amur Equipment Finance
Receivables XV LLC
2025-1A, D 144A
5.680%, 8/20/32(3)
|
340
|
340
|
|
Aqua Finance Trust 2024-A, B
144A
5.060%, 4/18/50(3)
|
349
|
343
|
|
Commercial Equipment
Finance LLC 2024-1A, A
144A
5.970%, 7/16/29(3)
|
86
|
87
|
|
Five Guys Holdings, Inc.
2023-1A, A2 144A
7.549%, 1/26/54(3)
|
315
|
317
|
|
Jersey Mike’s Funding LLC
2024-1A, A2 144A
5.636%, 2/15/55(3)
|
414
|
411
|
|
Libra Solutions LLC 2024-1A,
A 144A
5.880%, 9/30/38(3)
|
335
|
334
|
|
MMP Capital LLC 2025-A, B
144A
5.720%, 12/15/31(3)
|
239
|
239
|
|
MVW LLC 2024-1A, A 144A
5.320%, 2/20/43(3)
|
168
|
169
|
|
NMEF Funding LLC 2025-A, B
144A
5.180%, 7/15/32(3)
|
345
|
345
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Other—continued
|
|
|
|
Planet Fitness Master
Issuer LLC 2024-1A, A2I
144A
5.765%, 6/5/54(3)
|
$413
|
$414
|
|
RCO X Mortgage LLC 2026-1,
A1 144A
5.536%, 3/25/31(3)(9)
|
320
|
319
|
|
Taco Bell Funding LLC
2025-1A, A2I 144A
4.821%, 8/25/55(3)
|
335
|
327
|
|
Towd Point Mortgage Trust
2025-CES4, A1A 144A
5.091%, 10/25/65(2)(3)(9)
|
287
|
283
|
|
Triton Container Finance
IX LLC 2026-1A, A 144A
5.260%, 5/20/51(3)
|
318
|
312
|
|
USQ Rail III LLC 2024-1A, A
144A
4.990%, 9/28/54(3)
|
314
|
306
|
|
Wingstop Funding LLC
2020-1A, A2 144A
2.841%, 12/5/50(3)
|
345
|
335
|
|
Zaxby’s Funding LLC 2021-1A,
A2 144A
3.238%, 7/30/51(3)
|
250
|
239
|
|
|
|
5,120
|
|
|
|
|
|
|
||
|
Total Asset-Backed Securities
(Identified Cost $9,099)
|
9,044
|
|
|
|
|
|
|
|
||
|
Convertible Bonds and Notes—2.7%
|
||
|
Communication Services—0.1%
|
|
|
|
Live Nation Entertainment, Inc.
2.875%, 1/15/30
|
22
|
26
|
|
Sphere Entertainment Co.
3.500%, 12/1/28
|
5
|
19
|
|
|
|
45
|
|
|
|
|
|
|
||
|
Consumer Discretionary—0.1%
|
|
|
|
GameStop Corp.
0.000%, 6/15/32
|
18
|
17
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Consumer Discretionary—continued
|
|
|
|
LCI Industries
3.000%, 3/1/30
|
$33
|
$36
|
|
Stride, Inc.
1.125%, 9/1/27
|
7
|
12
|
|
|
|
65
|
|
|
|
|
|
|
||
|
Consumer Staples—0.0%
|
|
|
|
Herbalife Ltd.
4.250%, 6/15/28
|
23
|
25
|
|
Energy—0.0%
|
|
|
|
Liberty Energy, Inc. 144A
0.000%, 3/1/31(2)(3)
|
18
|
16
|
|
Solaris Energy Infrastructure,
Inc.
0.250%, 10/1/31
|
22
|
26
|
|
|
|
42
|
|
|
|
|
|
|
||
|
Financials—0.2%
|
|
|
|
Affirm Holdings, Inc.
0.750%, 12/15/29
|
16
|
18
|
|
EZCORP, Inc. 144A
3.750%, 12/15/29(2)(3)
|
19
|
56
|
|
Jazz Investments I Ltd. 144A
1.875%, 9/15/32(3)
|
12
|
12
|
|
NextEra Energy Capital
Holdings, Inc.
3.000%, 3/1/27
|
19
|
23
|
|
SoFi Technologies, Inc. 144A
1.250%, 3/15/29(2)(3)
|
13
|
26
|
|
WisdomTree, Inc. 144A
4.500%, 10/1/31(2)(3)
|
43
|
58
|
|
|
|
193
|
|
|
|
|
|
|
||
|
Health Care—0.5%
|
|
|
|
Alignment Healthcare, Inc.
4.250%, 11/15/29
|
25
|
31
|
|
Alnylam Pharmaceuticals, Inc.
1.000%, 9/15/27
|
17
|
18
|
|
Alphatec Holdings, Inc.
0.750%, 3/15/30
|
7
|
7
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Health Care—continued
|
|
|
|
Bridgebio Pharma, Inc.
|
|
|
|
2.500%, 3/15/27 |
$8
|
$14
|
|
2.250%, 2/1/29 |
18
|
20
|
|
CONMED Corp.
2.250%, 6/15/27
|
12
|
12
|
|
Enovis Corp.
3.875%, 10/15/28
|
24
|
23
|
|
Envista Holdings Corp.
1.750%, 8/15/28
|
21
|
21
|
|
Guardant Health, Inc.
1.250%, 2/15/31
|
15
|
40
|
|
Halozyme Therapeutics, Inc.
|
|
|
|
1.000%, 8/15/28 |
18
|
34
|
|
144A 0.875%, 11/15/32(2)(3) |
43
|
58
|
|
Indivior Pharmaceuticals, Inc.
144A
0.625%, 3/15/31(2)(3)
|
22
|
24
|
|
Innoviva, Inc.
2.125%, 3/15/28
|
20
|
20
|
|
IRhythm Holdings, Inc.
1.500%, 9/1/29
|
20
|
22
|
|
Ligand Pharmaceuticals, Inc.
144A
0.000%, 9/15/31(2)(3)
|
21
|
22
|
|
LivaNova plc
2.500%, 3/15/29
|
18
|
24
|
|
Mirum Pharmaceuticals, Inc.
144A
0.000%, 6/1/32(2)(3)
|
18
|
17
|
|
Moderna, Inc. 144A
0.000%, 3/1/32(3)
|
5
|
5
|
|
Pacira BioSciences, Inc.
2.125%, 5/15/29
|
21
|
21
|
|
Tempus AI, Inc.
0.750%, 7/15/30
|
15
|
17
|
|
|
|
450
|
|
|
|
|
|
|
||
|
Industrials—0.3%
|
|
|
|
Bloom Energy Corp. 144A
0.000%, 11/15/30(2)(3)
|
11
|
15
|
|
BWX Technologies, Inc. 144A
0.000%, 11/1/30(2)(3)
|
45
|
41
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Industrials—continued
|
|
|
|
Granite Construction, Inc.
3.250%, 6/15/30
|
$35
|
$57
|
|
Greenbrier Cos., Inc. (The)
2.875%, 4/15/28
|
21
|
22
|
|
JBT Marel Corp. 144A
0.375%, 9/15/30(2)(3)
|
16
|
15
|
|
Knight-Swift Transportation
Holdings, Inc. 144A
1.000%, 11/15/31(2)(3)
|
43
|
46
|
|
Uber Technologies, Inc.
|
|
|
|
0.000, 5/15/28 |
17
|
18
|
|
0.875%, 12/1/28 |
16
|
20
|
|
|
|
234
|
|
|
|
|
|
|
||
|
Information Technology—1.0%
|
|
|
|
Advanced Energy Industries,
Inc. 144A
0.000%, 5/15/31(2)(3)(7)
|
47
|
45
|
|
Akamai Technologies, Inc.
|
|
|
|
0.375%, 9/1/27 |
12
|
14
|
|
0.250%, 5/15/33 |
14
|
19
|
|
144A 0.000, 5/15/30(2)(3)(7) |
22
|
20
|
|
Alarm.com Holdings, Inc.
2.250%, 6/1/29
|
21
|
21
|
|
Amkor Technology, Inc. 144A
0.000%, 7/15/31(2)(3)
|
18
|
16
|
|
BlackLine, Inc.
1.000%, 6/1/29
|
32
|
30
|
|
Box, Inc.
1.500%, 9/15/29
|
26
|
28
|
|
Cloudflare, Inc.
|
|
|
|
0.000, 6/15/30 |
13
|
19
|
|
144A 0.000, 8/15/31(2)(3) |
5
|
5
|
|
CoreWeave, Inc. 144A
1.750%, 12/1/31(2)(3)
|
10
|
10
|
|
Dynatrace LLC 144A
0.000%, 9/1/31(2)(3)
|
5
|
5
|
|
Guidewire Software, Inc.
1.250%, 11/1/29
|
16
|
18
|
|
Lumentum Holdings, Inc.
144A
0.375%, 3/15/32(2)(3)
|
15
|
74
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Information Technology—continued
|
|
|
|
MACOM Technology Solutions
Holdings, Inc.
0.000%, 12/15/29
|
$24
|
$41
|
|
MKS, Inc.
1.250%, 6/1/30
|
14
|
25
|
|
Nebius Group N.V. 144A
0.500%, 2/15/30(2)(3)
|
12
|
12
|
|
ON Semiconductor Corp.
0.000%, 5/1/27
|
5
|
7
|
|
Onto Innovation, Inc. 144A
0.000%, 6/1/31(2)(3)
|
20
|
22
|
|
OSI Systems, Inc.
2.250%, 8/1/29
|
25
|
32
|
|
Procore Technologies, Inc.
144A
0.000%, 8/15/31(2)(3)
|
11
|
12
|
|
Progress Software Corp.
3.500%, 3/1/30
|
42
|
43
|
|
Rubrik, Inc.
0.000%, 6/15/30(2)
|
50
|
54
|
|
Seagate HDD Cayman
3.500%, 6/1/28
|
1
|
10
|
|
Semtech Corp. 144A
0.000%, 10/15/30(2)(3)
|
6
|
9
|
|
Silicon Motion Technology
Corp. 144A
0.000%, 8/15/31(3)
|
5
|
5
|
|
SiTime Corp.
0.000%, 6/15/31
|
11
|
11
|
|
Snowflake, Inc.
|
|
|
|
0.000, 10/1/27 |
23
|
48
|
|
0.000, 10/1/29 |
31
|
68
|
|
Strategy, Inc.
0.625%, 3/15/30
|
6
|
7
|
|
Super Micro Computer, Inc.
0.000%, 6/15/30(7)
|
21
|
21
|
|
Terawulf, Inc. 144A
1.000%, 9/1/31(2)(3)
|
5
|
7
|
|
Unity Software, Inc.
0.000%, 3/15/30
|
16
|
22
|
|
Varonis Systems, Inc.
1.000%, 9/15/29
|
37
|
36
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Information Technology—continued
|
|
|
|
Viavi Solutions, Inc. 144A
0.625%, 3/1/31(2)(3)
|
$13
|
$36
|
|
Western Digital Corp.
3.000%, 11/15/28
|
6
|
71
|
|
|
|
923
|
|
|
|
|
|
|
||
|
Materials—0.1%
|
|
|
|
B2Gold Corp. 144A
2.750%, 2/1/30(2)(3)
|
26
|
48
|
|
MP Materials Corp. 144A
3.000%, 3/1/30(3)
|
3
|
8
|
|
|
|
56
|
|
|
|
|
|
|
||
|
Real Estate—0.2%
|
|
|
|
Healthcare Realty Holdings LP
144A
3.000%, 1/15/32(2)(3)
|
50
|
50
|
|
Macerich Partnership LP (The)
144A
2.250%, 8/15/31(2)(3)
|
24
|
24
|
|
Pebblebrook Hotel Trust 144A
1.625%, 1/15/30(2)(3)
|
29
|
37
|
|
Welltower OP LLC
|
|
|
|
144A 2.750%, 5/15/28(2)(3) |
22
|
54
|
|
144A 3.125%, 7/15/29(2)(3) |
14
|
26
|
|
|
|
191
|
|
|
|
|
|
|
||
|
Utilities—0.2%
|
|
|
|
CenterPoint Energy, Inc.
|
|
|
|
3.000%, 8/1/28 |
34
|
34
|
|
144A 2.875%, 5/15/29(2)(3) |
41
|
40
|
|
Evergy, Inc.
4.500%, 12/15/27
|
18
|
24
|
|
PG&E Corp.
4.250%, 12/1/27
|
15
|
15
|
|
Southern Co. (The)
|
|
|
|
144A 2.125%, 12/15/27(2)(3) |
11
|
11
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Utilities—continued
|
|
|
|
144A 3.500%, 9/15/29(2)(3) |
$11
|
$11
|
|
|
|
135
|
|
|
|
|
|
|
||
|
Total Convertible Bonds and
Notes
(Identified Cost $2,306)
|
2,359
|
|
|
|
|
|
|
|
||
|
Corporate Bonds and Notes—49.0%
|
||
|
Communication Services—1.8%
|
|
|
|
Altice France S.A.
|
|
|
|
144A 6.500%, 4/15/32(2)(3) |
95
|
93
|
|
144A 6.875%, 7/15/32(2)(3) |
141
|
138
|
|
CMG Media Corp. 144A
8.875%, 6/18/29(2)(3) |
150
|
115
|
|
CSC Holdings LLC 144A
4.125%, 12/1/30(3) |
95
|
50
|
|
DIRECTV Financing LLC
|
|
|
|
144A 8.875%, 2/1/30(2)(3) |
100
|
102
|
|
144A 8.875%, 2/1/30(2)(3) |
15
|
15
|
|
144A 9.250%, 6/1/32(2)(3) |
20
|
21
|
|
Gray Media, Inc. 144A
9.625%, 7/15/32(2)(3) |
35
|
36
|
|
IHS Holding Ltd. 144A
8.250%, 11/29/31(3) |
40
|
42
|
|
Pioneer Opco LLC 144A
7.000%, 5/15/33(2)(3) |
30
|
31
|
|
Playtika Holding Corp. 144A
4.250%, 3/15/29(2)(3) |
105
|
95
|
|
PR RNO Property Owner 1 LLC
144A
6.500%, 5/1/31(2)(3) |
80
|
74
|
|
Sinclair Television Group, Inc.
144A
8.125%, 2/15/33(2)(3) |
95
|
99
|
|
Snap, Inc.
|
|
|
|
144A 6.875%, 3/1/33(2)(3) |
140
|
137
|
|
144A 6.875%, 3/15/34(2)(3) |
65
|
63
|
|
Turkcell Iletisim Hizmetleri AS
144A
7.650%, 1/24/32(3) |
140
|
145
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Communication
Services—continued
|
|
|
|
Univision Communications,
Inc. 144A
8.875%, 4/15/33(2)(3) |
$160
|
$158
|
|
Verizon Communications, Inc.
6.200%, 5/14/56(2)
|
195
|
188
|
|
|
|
1,602
|
|
|
|
|
|
|
||
|
Consumer Discretionary—1.8%
|
|
|
|
A&K Travel Group Holdings
Ltd. 144A
7.500%, 5/15/33(2)(3) |
50
|
51
|
|
Aptiv Swiss Holdings Ltd.
6.875%, 12/15/54
|
25
|
25
|
|
Ashton Woods USA LLC 144A
4.625%, 4/1/30(2)(3) |
80
|
76
|
|
Dick’s Sporting Goods, Inc.
4.100%, 1/15/52
|
290
|
198
|
|
Ford Motor Credit Co. LLC
7.350%, 3/6/30(2)
|
115
|
121
|
|
Forvia SE 144A
6.750%, 9/15/33(2)(3) |
125
|
125
|
|
Hilton Grand Vacations
Borrower LLC 144A
5.000%, 6/1/29(2)(3) |
120
|
117
|
|
Murphy Oil USA, Inc. 144A
5.875%, 6/1/34(2)(3) |
200
|
198
|
|
Newell Brands, Inc.
6.625%, 9/15/29(2)
|
127
|
130
|
|
Ontario Gaming GTA LP 144A
8.000%, 8/1/30(2)(3) |
65
|
65
|
|
Risewell Homes, Inc.
|
|
|
|
144A 9.250%, 10/1/29(2)(3) |
125
|
128
|
|
144A 8.500%, 11/1/30(2)(3) |
10
|
10
|
|
Saks Global Enterprises LLC
144A
11.000%, 12/15/29(3)(10) |
50
|
—
|
|
Wayfair LLC
|
|
|
|
144A 6.750%, 11/15/32(2)(3) |
50
|
51
|
|
144A 7.125%, 5/31/34(2)(3) |
15
|
16
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Consumer Discretionary—continued
|
|
|
|
Weekley Homes LLC 144A
4.875%, 9/15/28(2)(3) |
$270
|
$266
|
|
|
|
1,577
|
|
|
|
|
|
|
||
|
Consumer Staples—0.7%
|
|
|
|
Albertsons Cos., Inc.
|
|
|
|
144A 4.875%, 2/15/30(2)(3) |
125
|
120
|
|
144A 5.750%, 3/31/34(2)(3) |
95
|
89
|
|
Chobani LLC 144A
6.375%, 4/15/34(2)(3) |
100
|
101
|
|
Pilgrim’s Pride Corp.
6.250%, 7/1/33(2)
|
101
|
104
|
|
Post Holdings, Inc. 144A
6.375%, 3/1/33(2)(3) |
80
|
79
|
|
Primo Water Holdings, Inc.
144A
6.250%, 4/1/29(2)(3) |
125
|
126
|
|
|
|
619
|
|
|
|
|
|
|
||
|
Energy—8.9%
|
|
|
|
Alliance Resource Operating
Partners LP 144A
8.625%, 6/15/29(2)(3) |
150
|
156
|
|
APA Corp.
6.750%, 2/15/55(2)
|
260
|
267
|
|
Ascent Resources Utica
Holdings LLC 144A
6.625%, 7/15/33(2)(3) |
115
|
116
|
|
BP Capital Markets plc
4.875% (2)(11)
|
245
|
240
|
|
Bristow Group, Inc. 144A
6.750%, 2/1/33(2)(3) |
25
|
25
|
|
Buckeye Partners LP 144A
6.750%, 2/1/30(2)(3) |
75
|
77
|
|
Caturus Energy LLC 144A
8.500%, 2/15/30(2)(3) |
155
|
162
|
|
Constellation Oil Services
Holding S.A. 144A
7.700%, 8/3/33(2)(3) |
194
|
195
|
|
Ecopetrol S.A.
8.875%, 1/13/33
|
97
|
105
|
|
Genesis Energy LP
|
|
|
|
8.875%, 4/15/30(2)
|
250
|
261
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Energy—continued
|
|
|
|
6.750%, 3/15/34
|
$25
|
$25
|
|
Geopark Ltd. 144A
8.750%, 1/31/30(3) |
90
|
93
|
|
Harbour Energy Finance 2 plc
144A
6.327%, 4/1/35(2)(3) |
275
|
277
|
|
Helix Energy Solutions Group,
Inc. 144A
9.750%, 3/1/29(3) |
185
|
194
|
|
HF Sinclair Corp.
6.250%, 1/15/35(2)
|
215
|
220
|
|
Kodiak Gas Services LLC 144A
6.750%, 10/1/35(2)(3) |
65
|
66
|
|
Magnolia Oil & Gas
Operating LLC 144A
6.875%, 12/1/32(2)(3) |
30
|
31
|
|
Mesquite Energy, Inc. 144A
7.250%, 7/15/27(3)(10) |
135
|
—
(8)
|
|
Occidental Petroleum Corp.
6.200%, 3/15/40(2)
|
210
|
213
|
|
Pertamina Persero PT
|
|
|
|
144A 2.300%, 2/9/31(2)(3) |
60
|
53
|
|
RegS 6.450%, 5/30/44(2)(4) |
231
|
228
|
|
Petroleos de Venezuela S.A.
|
|
|
|
RegS 9.000%, 11/17/21(4)(5) |
342
|
155
|
|
RegS 12.750%, 2/17/22(4)(5) |
2,270
|
1,180
|
|
Petroleos del Peru S.A. RegS
4.750%, 6/19/32(2)(4) |
140
|
121
|
|
Petroleos Mexicanos
|
|
|
|
6.840%, 1/23/30(2)
|
237
|
244
|
|
6.375%, 1/23/45(2)
|
299
|
249
|
|
6.350%, 2/12/48
|
520
|
420
|
|
Petronas Capital Ltd.
|
|
|
|
144A 3.500%, 4/21/30(2)(3) |
99
|
94
|
|
144A 5.848%, 4/3/55(2)(3) |
391
|
384
|
|
Prairie Acquiror LP 144A
9.000%, 8/1/29(2)(3) |
95
|
98
|
|
Sempra Infrastructure
Partners LP 144A
3.250%, 1/15/32(2)(3) |
330
|
292
|
|
SM Energy Co. 144A
6.625%, 4/15/34(2)(3) |
25
|
25
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Energy—continued
|
|
|
|
Solaris Energy
Infrastructure LLC 144A
6.375%, 5/15/31(2)(3) |
$55
|
$55
|
|
South Bow Canadian
Infrastructure Holdings Ltd.
7.500%, 3/1/55
|
85
|
89
|
|
Sunoco LP
|
|
|
|
144A 5.625%, 3/15/31(2)(3) |
75
|
74
|
|
144A 5.375%, 7/15/31(2)(3) |
5
|
5
|
|
144A 5.875%, 3/15/34(2)(3) |
50
|
49
|
|
144A 5.625%, 7/15/34(2)(3) |
10
|
10
|
|
Teine Energy Ltd. 144A
6.875%, 4/15/29(2)(3) |
250
|
250
|
|
Tidewater, Inc. 144A
9.125%, 7/15/30(2)(3) |
110
|
118
|
|
Transocean International Ltd.
|
|
|
|
144A 8.250%, 5/15/29(2)(3) |
35
|
36
|
|
144A 8.750%, 2/15/30(3) |
146
|
152
|
|
144A 8.500%, 5/15/31(2)(3) |
130
|
137
|
|
Uzbekneftegaz JSC 144A
8.750%, 5/7/30(3) |
121
|
130
|
|
Validus Energy II Midcon LLC
144A
8.000%, 8/1/31(2)(3) |
10
|
10
|
|
Venture Global LNG, Inc.
|
|
|
|
144A 9.000%(2)(3)(11) |
80
|
81
|
|
144A 9.875%, 2/1/32(2)(3) |
100
|
107
|
|
Western Midstream
Operating LP
5.250%, 2/1/50(2)
|
160
|
135
|
|
YPF S.A. 144A
9.500%, 1/17/31(3) |
150
|
158
|
|
|
|
7,862
|
|
|
|
|
|
|
||
|
Financials—19.5%
|
|
|
|
Acrisure LLC
|
|
|
|
144A 8.250%, 2/1/29(3) |
90
|
82
|
|
144A 6.000%, 8/1/29(2)(3) |
145
|
123
|
|
AerCap Ireland Capital DAC
|
|
|
|
6.950%, 3/10/55(2)
|
150
|
154
|
|
6.500%, 1/31/56(2)
|
235
|
236
|
|
Albion Financing 1 S.a.r.l. 144A
7.000%, 5/21/30(2)(3) |
130
|
134
|
|
Allianz SE 144A
6.350%, 9/6/53(2)(3) |
200
|
205
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Financials—continued
|
|
|
|
Altice Financing S.A. 144A
5.000%, 1/15/28(3) |
$20
|
$12
|
|
Altice France Lux 3 144A
10.000%, 1/15/33(2)(3) |
37
|
36
|
|
American National Group, Inc.
7.000%, 12/1/55
|
41
|
39
|
|
Apollo Debt Solutions BDC
|
|
|
|
6.900%, 4/13/29
|
80
|
82
|
|
5.875%, 8/30/30
|
95
|
94
|
|
Apollo Global Management,
Inc.
6.000%, 12/15/54(2)
|
275
|
261
|
|
Ardonagh Group Finance Ltd.
144A
8.875%, 2/15/32(3) |
5
|
5
|
|
Arsenal AIC Parent LLC 144A
11.500%, 10/1/31(2)(3) |
125
|
133
|
|
Ashtead Capital, Inc. 144A
5.550%, 5/30/33(2)(3) |
310
|
309
|
|
Athene Holding Ltd.
6.625%, 10/15/54
|
46
|
42
|
|
Atlas Warehouse Lending Co.
LP 144A
5.250%, 1/15/33(2)(3) |
265
|
257
|
|
Avis Budget Car Rental LLC
144A
4.750%, 4/1/28(2)(3) |
50
|
49
|
|
Azorra Finance Ltd.
|
|
|
|
144A 7.250%, 1/15/31(2)(3) |
105
|
109
|
|
144A 6.250%, 2/15/34(2)(3) |
50
|
49
|
|
Azule Energy Finance plc 144A
8.125%, 1/23/30(3) |
175
|
179
|
|
Banco de Credito del Peru S.A.
144A
6.450%, 7/30/35(3) |
238
|
243
|
|
Banco de Credito e Inversiones
S.A. 144A
7.500% (3)(11) |
174
|
183
|
|
Banco Mercantil del Norte S.A.
|
|
|
|
144A 5.875%(3)(11) |
125
|
124
|
|
144A 6.625%(3)(11) |
122
|
116
|
|
Bank of America Corp.
5.518%, 10/25/35(2)
|
355
|
351
|
|
Barclays plc
7.437%, 11/2/33(2)
|
295
|
324
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Financials—continued
|
|
|
|
BBVA Mexico S.A. Institucion
De Banca Multiple Grupo
Financiero BBVA Mexico
144A
5.125%, 1/18/33(3) |
$227
|
$223
|
|
Blackstone Private Credit Fund
5.250%, 4/1/30(2)
|
220
|
213
|
|
Block, Inc.
|
|
|
|
6.500%, 5/15/32(2)
|
110
|
112
|
|
144A 6.000%, 8/15/33(2)(3) |
35
|
35
|
|
Blue Owl Finance LLC
6.250%, 4/18/34(2)
|
245
|
240
|
|
Bond U.S. Bidco 1, Inc. 144A
7.125%, 6/15/33(2)(3) |
80
|
81
|
|
Broadstreet Partners
Group LLC 144A
5.875%, 4/15/29(2)(3) |
160
|
158
|
|
Capital One Financial Corp.
|
|
|
|
2.359%, 7/29/32(2)
|
145
|
125
|
|
6.377%, 6/8/34(2)
|
130
|
135
|
|
Capital Power U.S. Holdings,
Inc. 144A
6.189%, 6/1/35(2)(3) |
90
|
91
|
|
Charles Schwab Corp. (The)
Series H
4.000% (11)
|
215
|
200
|
|
Cipher Compute LLC 144A
7.125%, 11/15/30(2)(3) |
90
|
91
|
|
Citadel Finance LLC
|
|
|
|
144A 4.750%, 2/14/29(2)(3) |
180
|
177
|
|
144A 5.150%, 2/14/31(2)(3) |
20
|
19
|
|
Citigroup, Inc.
|
|
|
|
6.270%, 11/17/33(2)
|
145
|
152
|
|
6.174%, 5/25/34(2)
|
134
|
137
|
|
Corebridge Financial, Inc.
6.375%, 9/15/54(2)
|
331
|
328
|
|
Coronado Finance Pty Ltd.
144A
9.250%, 10/1/29(2)(3) |
150
|
128
|
|
Deutsche Bank AG
5.060%, 4/14/32(2)
|
280
|
276
|
|
Drawbridge Special
Opportunities Fund LP 144A
5.950%, 9/17/30(2)(3) |
200
|
192
|
|
Eldik Bank OAO 144A
8.500%, 4/23/31(3) |
463
|
465
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Financials—continued
|
|
|
|
Endo Finance Holdings LP
144A
8.500%, 4/15/31(3) |
$95
|
$100
|
|
F&G Annuities & Life, Inc.
6.500%, 6/4/29(2)
|
230
|
233
|
|
Flutter Treasury DAC 144A
5.875%, 6/4/31(2)(3) |
275
|
270
|
|
Focus Financial Partners LLC
|
|
|
|
144A 6.750%, 9/15/31(2)(3) |
70
|
70
|
|
144A 7.250%, 9/15/31(2)(3) |
80
|
81
|
|
Froneri Lux FinCo S.a.r.l. 144A
6.000%, 8/1/32(2)(3) |
55
|
54
|
|
FS Luxembourg S.a.r.l. 144A
8.625%, 6/25/33(2)(3) |
207
|
193
|
|
Global Atlantic Fin Co.
|
|
|
|
144A 7.950%, 6/15/33(2)(3) |
137
|
148
|
|
144A 7.950%, 10/15/54(2)(3) |
70
|
70
|
|
Global Payments, Inc.
5.550%, 11/15/35(2)
|
265
|
253
|
|
Goldman Sachs Group, Inc.
(The)
6.450%, 5/1/36(2)
|
135
|
141
|
|
Green Palm Bidco S.a.r.l. 144A
5.957%, 6/30/41(2)(3) |
520
|
510
|
|
Grifols S.A. 144A
4.750%, 10/15/28(2)(3) |
175
|
172
|
|
Gulfport Energy Operating
Corp. 144A
6.750%, 9/1/29(2)(3) |
80
|
81
|
|
HA Sustainable Infrastructure
Capital, Inc.
6.375%, 7/1/34(2)
|
271
|
273
|
|
Huntington Bancshares, Inc.
5.709%, 2/2/35(2)
|
270
|
270
|
|
Icon Investments Six DAC
6.000%, 5/8/34(2)
|
265
|
267
|
|
INEOS Finance plc 144A
7.500%, 4/15/29(2)(3) |
130
|
129
|
|
ION Trading Technologies
S.a.r.l. 144A
9.500%, 5/30/29(3) |
105
|
97
|
|
JH North America Holdings,
Inc. 144A
6.125%, 7/31/32(2)(3) |
270
|
272
|
|
JPMorgan Chase & Co.
|
|
|
|
5.350%, 6/1/34(2)
|
135
|
135
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Financials—continued
|
|
|
|
6.254%, 10/23/34(2)
|
$200
|
$210
|
|
Liberty Mutual Group, Inc.
144A
4.125%, 12/15/51(2)(3) |
155
|
155
|
|
Melco Resorts Finance Ltd.
(Macau) 144A
5.375%, 12/4/29(2)(3) |
200
|
194
|
|
Meridian Arc Holdco LLC 144A
6.250%, 4/30/31(2)(3) |
45
|
43
|
|
Midcap Financial Issuer Trust
144A
6.500%, 5/1/28(2)(3) |
370
|
371
|
|
Morgan Stanley
|
|
|
|
6.342%, 10/18/33(2)
|
160
|
168
|
|
5.948%, 1/19/38(2)
|
174
|
176
|
|
National Australia Bank Ltd.
144A
5.625%, 6/4/37(2)(3) |
260
|
254
|
|
Nationstar Mortgage
Holdings LLC 144A
5.750%, 11/15/31(3) |
140
|
141
|
|
NatWest Group plc
6.475%, 6/1/34(2)
|
200
|
205
|
|
NextEra Energy Capital
Holdings, Inc.
6.500%, 8/15/55(2)
|
205
|
206
|
|
Nippon Life Insurance Co.
144A
6.250%, 9/13/53(2)(3) |
200
|
204
|
|
Nissan Motor Acceptance Co.
LLC 144A
5.625%, 9/29/28(2)(3) |
130
|
130
|
|
OAK-Eagle Acquireco, Inc.
144A
8.750%, 7/1/34(2)(3) |
30
|
32
|
|
OneMain Finance Corp.
|
|
|
|
7.125%, 11/15/31(2)
|
160
|
162
|
|
6.750%, 9/15/33
|
30
|
30
|
|
7.125%, 3/15/34(2)
|
100
|
100
|
|
Organon & Co. 144A
5.125%, 4/30/31(2)(3) |
30
|
30
|
|
Phoenix Aviation Capital Ltd.
144A
9.250%, 7/15/30(2)(3) |
190
|
199
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Financials—continued
|
|
|
|
Prudential Financial, Inc.
6.750%, 3/1/53
|
$220
|
$229
|
|
Reinsurance Group of
America, Inc.
6.650%, 9/15/55(2)
|
225
|
224
|
|
Rivers Enterprise
Borrower LLC 144A
6.250%, 10/15/30(2)(3) |
30
|
30
|
|
Rocket Cos., Inc. 144A
6.375%, 8/1/33(2)(3) |
100
|
101
|
|
Seadrill Finance Ltd. 144A
6.750%, 7/15/34(2)(3) |
30
|
29
|
|
Societe Generale S.A. 144A
6.066%, 1/19/35(2)(3) |
370
|
374
|
|
South Bow USA Infrastructure
Holdings LLC
5.584%, 10/1/34(2)
|
120
|
118
|
|
State Street Corp. Series I
6.700% (2)(11)
|
170
|
174
|
|
Surgery Center Holdings, Inc.
144A
7.250%, 4/15/32(2)(3) |
80
|
80
|
|
SV RNO Property Owner 1 LLC
144A
5.875%, 3/1/31(2)(3) |
100
|
92
|
|
Synergy Infrastructure
Holdings LLC
|
|
|
|
144A 7.875%, 12/1/30(2)(3) |
130
|
137
|
|
144A 7.000%, 7/15/34(2)(3) |
15
|
15
|
|
Taylor Morrison Communities,
Inc. 144A
5.750%, 11/15/32(2)(3) |
10
|
10
|
|
Toronto-Dominion Bank (The)
8.125%, 10/31/82(2)
|
235
|
242
|
|
Transocean International Ltd.
144A
7.875%, 10/15/32(2)(3) |
10
|
10
|
|
Trivium Packaging Finance B.V.
144A
12.250%, 1/15/31(3) |
70
|
78
|
|
UBS Group AG 144A
4.988%, 8/5/33(2)(3) |
310
|
304
|
|
Veon Midco B.V. 144A
6.950%, 6/1/31(3) |
78
|
78
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Financials—continued
|
|
|
|
Vistra Operations Co. LLC
144A
6.875%, 4/15/32(2)(3) |
$120
|
$124
|
|
Wells Fargo & Co.
|
|
|
|
6.125%(2)(11)
|
265
|
263
|
|
5.389%, 4/24/34
|
145
|
145
|
|
|
|
17,195
|
|
|
|
|
|
|
||
|
Health Care—2.3%
|
|
|
|
180 Medical, Inc. 144A
5.300%, 10/8/35(2)(3) |
275
|
264
|
|
Acadia Healthcare Co., Inc.
144A
5.500%, 7/1/28(2)(3) |
10
|
10
|
|
Amneal Pharmaceuticals LLC
144A
6.875%, 8/1/32(2)(3) |
80
|
83
|
|
BioMarin Pharmaceutical, Inc.
144A
5.500%, 2/15/34(2)(3) |
5
|
5
|
|
Centene Corp.
3.375%, 2/15/30(2)
|
145
|
135
|
|
CVS Health Corp.
6.750%, 12/10/54(2)
|
129
|
132
|
|
Dentsply Sirona, Inc.
3.250%, 6/1/30(2)
|
265
|
245
|
|
Genmab A/S
|
|
|
|
144A 6.250%, 12/15/32(2)(3) |
5
|
5
|
|
144A 7.250%, 12/15/33(2)(3) |
10
|
10
|
|
HCA, Inc.
5.500%, 6/1/33(2)
|
220
|
221
|
|
LifePoint Health, Inc.
|
|
|
|
144A 5.375%, 1/15/29(2)(3) |
160
|
155
|
|
144A 9.875%, 8/15/30(2)(3) |
250
|
263
|
|
144A 10.000%, 6/1/32(3) |
85
|
82
|
|
Opal Bidco SAS 144A
6.500%, 3/31/32(2)(3) |
15
|
15
|
|
Organon & Co. 144A
7.875%, 5/15/34(2)(3) |
30
|
32
|
|
Prime Healthcare Services,
Inc. 144A
9.375%, 9/1/29(3) |
65
|
67
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Health Care—continued
|
|
|
|
Tenet Healthcare Corp. 144A
6.000%, 11/15/33(2)(3) |
$30
|
$30
|
|
U.S. Acute Care Solutions LLC
144A
9.750%, 5/15/29(2)(3) |
40
|
39
|
|
Universal Health Services, Inc.
|
|
|
|
5.050%, 10/15/34(2)
|
145
|
137
|
|
6.000%, 9/1/36
|
95
|
95
|
|
|
|
2,025
|
|
|
|
|
|
|
||
|
Industrials—5.2%
|
|
|
|
Adani Ports & Special
Economic Zone Ltd. 144A
4.375%, 7/3/29(2)(3) |
300
|
291
|
|
Alaska Airlines Pass-Through
Trust 2020-1, A 144A
4.800%, 2/15/29(3) |
236
|
236
|
|
APi Group DE, Inc. 144A
5.750%, 6/1/34(2)(3) |
58
|
57
|
|
British Airways Pass-Through
Trust 2021-1, A 144A
2.900%, 9/15/36(3) |
306
|
276
|
|
Builders FirstSource, Inc. 144A
6.375%, 3/1/34(3) |
115
|
114
|
|
Carpenter Technology Corp.
144A
5.625%, 3/1/34(2)(3) |
5
|
5
|
|
Cimpress plc 144A
7.375%, 9/15/32(2)(3) |
150
|
152
|
|
Clarios Global LP
|
|
|
|
144A 6.750%, 2/15/30(2)(3) |
5
|
5
|
|
144A 6.750%, 9/15/32(2)(3) |
35
|
36
|
|
CoStar Group, Inc. 144A
2.800%, 7/15/30(2)(3) |
256
|
229
|
|
Esab Corp. 144A
5.625%, 4/1/31(2)(3) |
20
|
20
|
|
Garda World Security Corp.
144A
8.375%, 11/15/32(2)(3) |
145
|
148
|
|
Global Infrastructure
Solutions, Inc. 144A
7.500%, 4/15/32(2)(3) |
75
|
79
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Industrials—continued
|
|
|
|
Global Medical Response, Inc.
144A
7.375%, 10/1/32(2)(3) |
$75
|
$78
|
|
Granite Construction, Inc.
144A
6.375%, 6/15/34(2)(3) |
5
|
5
|
|
Herc Holdings, Inc.
|
|
|
|
144A 7.250%, 6/15/33(2)(3) |
45
|
46
|
|
144A 6.000%, 3/15/34(2)(3) |
60
|
59
|
|
Icahn Enterprises LP 144A
10.000%, 11/15/29(2)(3) |
200
|
194
|
|
LBM Acquisition LLC 144A
6.250%, 1/15/29(3) |
250
|
158
|
|
Madison IAQ LLC 144A
5.875%, 6/30/29(2)(3) |
135
|
135
|
|
Mauser Packaging Solutions
Holding Co. 144A
9.250%, 4/15/30(3) |
215
|
215
|
|
Neptune Bidco U.S., Inc.
|
|
|
|
144A 9.290%, 4/15/29(2)(3) |
200
|
205
|
|
144A 10.375%, 5/15/31(2)(3) |
20
|
21
|
|
Perusahaan Perseroan Persero
PT Perusahaan Listrik
Negara 144A
4.125%, 5/15/27(2)(3) |
534
|
529
|
|
Standard Building Solutions,
Inc. 144A
5.875%, 3/15/34(2)(3) |
115
|
111
|
|
Stanley Black & Decker, Inc.
6.707%, 3/15/60(2)
|
190
|
190
|
|
TransDigm, Inc.
|
|
|
|
144A 6.625%, 3/1/32(2)(3) |
235
|
240
|
|
144A 6.125%, 7/31/34(2)(3) |
10
|
10
|
|
United Airlines Holdings, Inc.
|
|
|
|
4.875%, 3/1/29
|
90
|
89
|
|
5.375%, 3/1/31
|
10
|
10
|
|
United Airlines Pass-Through
Trust 2023-1, A
5.800%, 7/15/37
|
213
|
217
|
|
VistaJet Malta Finance plc
144A
9.500%, 6/1/28(2)(3) |
215
|
219
|
|
VoltaGrid LLC 144A
7.375%, 11/1/30(2)(3) |
125
|
126
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Industrials—continued
|
|
|
|
White Cap Supply
Holdings LLC 144A
7.375%, 11/15/30(3) |
$40
|
$40
|
|
|
|
4,545
|
|
|
|
|
|
|
||
|
Information Technology—1.8%
|
|
|
|
Cloud Software Group LLC
144A
9.000%, 9/30/29(2)(3) |
175
|
176
|
|
Consensus Cloud Solutions,
Inc. 144A
6.500%, 10/15/28(2)(3) |
55
|
55
|
|
CoreWeave, Inc. 144A
9.625%, 7/15/32(2)(3) |
40
|
35
|
|
Gartner, Inc. 144A
3.750%, 10/1/30(2)(3) |
280
|
258
|
|
Helios Software Holdings, Inc.
144A
8.750%, 5/1/29(3)(10) |
85
|
78
|
|
HUT 8 DC LLC 144A
6.192%, 11/15/42(2)(3) |
160
|
155
|
|
Insight Enterprises, Inc. 144A
6.625%, 5/15/32(2)(3) |
130
|
132
|
|
QTS Fayetteville I Dc1-2 LLC
144A
5.700%, 4/15/36(2)(3) |
210
|
190
|
|
Rocket Software, Inc. 144A
9.000%, 11/28/28(2)(3) |
100
|
102
|
|
VSP Optical Group, Inc. 144A
5.650%, 6/1/36(2)(3) |
260
|
258
|
|
WESCO Distribution, Inc. 144A
5.500%, 4/15/34(2)(3) |
75
|
73
|
|
WULF Compute LLC 144A
7.750%, 10/15/30(2)(3) |
110
|
114
|
|
|
|
1,626
|
|
|
|
|
|
|
||
|
Materials—3.1%
|
|
|
|
ASP Unifrax Holdings, Inc.
144A
5.250%, 9/30/28(3) |
455
|
1
|
|
Bayport Polymers LLC 144A
5.140%, 4/14/32(2)(3) |
370
|
360
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Materials—continued
|
|
|
|
Capstone Copper Corp. 144A
6.750%, 3/31/33(2)(3) |
$215
|
$218
|
|
Cleveland-Cliffs, Inc. 144A
7.625%, 1/15/34(2)(3) |
120
|
122
|
|
Corp. Nacional del Cobre de
Chile
|
|
|
|
144A 5.950%, 1/8/34(2)(3) |
97
|
99
|
|
RegS 6.440%, 1/26/36(2)(4) |
387
|
403
|
|
Illuminate Buyer LLC 144A
9.000%, 7/1/28(3) |
48
|
48
|
|
LSB Industries, Inc. 144A
6.250%, 10/15/28(2)(3) |
260
|
260
|
|
OCP S.A. 144A
6.700%, 3/1/36(3) |
330
|
338
|
|
Samarco Mineracao S.A.
(9.000% or 5.000% PIK,
4.000% cash) 144A
9.500%, 6/30/31(2)(3)(12) |
198
|
200
|
|
Solstice Advanced Materials,
Inc. 144A
5.625%, 9/30/33(2)(3) |
10
|
10
|
|
Trekor Metals Ltd. 144A
8.250%, 5/1/30(2)(3) |
100
|
104
|
|
Westlake Corp.
5.550%, 11/15/35(2)
|
265
|
258
|
|
WR Grace Holdings LLC 144A
5.625%, 8/15/29(2)(3) |
282
|
268
|
|
WS Escrow LLC 144A
7.750%, 6/1/33(2)(3) |
15
|
16
|
|
|
|
2,705
|
|
|
|
|
|
|
||
|
Real Estate—0.6%
|
|
|
|
Forestar Group, Inc. 144A
6.500%, 3/15/33(2)(3) |
130
|
131
|
|
Iron Mountain, Inc. 144A
6.250%, 1/15/33(2)(3) |
135
|
136
|
|
Millrose Properties, Inc. 144A
6.250%, 9/15/32(2)(3) |
115
|
115
|
|
Port of Spain Waterfront
Development RegS
7.875%, 2/19/40(4) |
122
|
126
|
|
|
|
508
|
|
|
|
|
|
|
||
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Utilities—3.3%
|
|
|
|
AES Corp. (The)
7.600%, 1/15/55(2)
|
$135
|
$138
|
|
Alpha Generation LLC 144A
6.250%, 1/15/34(2)(3) |
50
|
49
|
|
Beacon Point DC LLC 144A
6.129%, 11/30/42(2)(3) |
200
|
190
|
|
CMS Energy Corp.
4.750%, 6/1/50(2)
|
285
|
276
|
|
Comision Ejecutiva
Hidroelectrica del Rio
Lempa 144A
8.650%, 1/24/33(3) |
132
|
142
|
|
Dominion Energy, Inc.
|
|
|
|
6.200%, 2/15/56(2)
|
195
|
191
|
|
Series B 7.000%, 6/1/54(2)
|
115
|
120
|
|
Electricite de France S.A. 144A
6.900%, 5/23/53(2)(3) |
180
|
186
|
|
Entergy Corp.
7.125%, 12/1/54(2)
|
210
|
216
|
|
Eskom Holdings 144A
8.450%, 8/10/28(3) |
378
|
396
|
|
Ferrellgas LP 144A
5.875%, 4/1/29(2)(3) |
170
|
168
|
|
Limak Yenilenebilir Enerji AS
144A
9.625%, 8/12/30(3) |
150
|
149
|
|
NGL Energy Operating LLC
|
|
|
|
144A 8.125%, 2/15/29(2)(3) |
30
|
31
|
|
144A 8.375%, 2/15/32(2)(3) |
155
|
162
|
|
NRG Energy, Inc.
|
|
|
|
144A 7.000%, 3/15/33(2)(3) |
245
|
260
|
|
144A 6.125%, 5/15/36(2)(3) |
60
|
59
|
|
Suburban Propane Partners LP
144A
6.500%, 12/15/35(2)(3) |
75
|
73
|
|
Vistra Corp. 144A
8.000% (2)(3)(11) |
125
|
125
|
|
|
|
2,931
|
|
|
|
|
|
|
||
|
Total Corporate Bonds and Notes
(Identified Cost $43,508)
|
43,195
|
|
|
|
|
|
|
|
||
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Leveraged Loans—10.5%
|
||
|
Aerospace—0.4%
|
|
|
|
American Airlines, Inc. Tranche
B (6 month Term SOFR +
2.250%)
5.935%, 2/15/28(9)
|
$90
|
$90
|
|
Brown Group Holding LLC
Tranche B-2 (1-3 month
Term SOFR + 2.250%)
5.936% - 6.073%, 7/1/31(9)
|
30
|
30
|
|
Karman Holdings LLC Tranche
B (1 month Term SOFR +
2.250%)
6.061%, 4/1/32(9)
|
20
|
20
|
|
Pac Dac LLC (1 month Term
SOFR + 3.250%)
6.936%, 10/28/30(9)
|
114
|
114
|
|
Rand Parent LLC 2026,
Tranche B (1 month Term
SOFR + 3.000%)
6.732%, 3/18/30(9)
|
50
|
50
|
|
Vista Management Holding,
Inc. (3 month Term SOFR +
3.750%)
7.475%, 4/1/31(9)
|
50
|
50
|
|
|
|
354
|
|
|
|
|
|
|
||
|
Chemicals—0.4%
|
|
|
|
Bond German BidCo 2 GmbH
Tranche B (1 month Term
SOFR + 3.500%)
7.244%, 6/29/33(9)
|
43
|
43
|
|
Ineos Finance plc
|
|
|
|
2030 (1 month Term SOFR +
3.250%)
6.936%, 2/19/30(9)
|
34
|
32
|
|
2032 (1 month Term SOFR +
5.000%)
8.686%, 6/25/32(9)
|
125
|
116
|
|
Lummus Technology Holdings
V LLC Tranche B (1 month
Term SOFR + 2.500%)
6.186%, 12/31/29(9)
|
79
|
78
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Chemicals—continued
|
|
|
|
Nouryon Finance B.V. 2026,
Tranche B (1-3 month Term
SOFR + 3.500%)
7.144% - 7.230%, 7/8/31(9)
|
$50
|
$50
|
|
USALCO LLC 2025 (3 month
Term SOFR + 3.500%)
7.264%, 9/30/31(9)
|
46
|
47
|
|
|
|
366
|
|
|
|
|
|
|
||
|
Consumer Durables—0.2%
|
|
|
|
Cimpress plc 2026, Tranche
B-1 (1 month Term SOFR +
2.500%)
6.186%, 6/3/33(9)
|
50
|
50
|
|
White Cap Supply
Holdings LLC Tranche D (1
month Term SOFR +
3.500%)
7.186%, 2/10/33(9)
|
90
|
90
|
|
|
|
140
|
|
|
|
|
|
|
||
|
Consumer Non-Durables—0.2%
|
|
|
|
AI Aqua Merger Sub, Inc.
Tranche B (1 month Term
SOFR + 2.500%)
6.206%, 7/4/33(9)
|
65
|
65
|
|
Albion Financing 3 S.a.r.l.
2025, Tranche A (3 month
Term SOFR + 3.000%)
6.740%, 5/21/31(9)
|
83
|
84
|
|
|
|
149
|
|
|
|
|
|
|
||
|
Energy—0.4%
|
|
|
|
ACI Rover Parent LLC (3
month Term SOFR +
2.250%)
5.982%, 6/9/33(9)
|
20
|
20
|
|
Blackfin Pipeline LLC (1 month
Term SOFR + 2.500%)
6.188%, 9/29/32(9)
|
119
|
120
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Energy—continued
|
|
|
|
Freeport LNG Investments LLP
Tranche B (3 month Term
SOFR + 3.250%)
6.979%, 2/11/33(9)
|
$80
|
$80
|
|
M6 ETX Holdings II Midco LLC
Tranche B (3 month +
1.500%)
8.250%, 4/1/32
|
94
|
94
|
|
|
|
314
|
|
|
|
|
|
|
||
|
Financials—0.2%
|
|
|
|
Acrisure LLC 2024, Tranche
B-6 (1 month Term SOFR +
3.000%)
6.620% - 6.686%,
11/6/30(9)
|
98
|
83
|
|
Alliant Holdings
Intermediate LLC 2025 (1
month Term SOFR +
2.500%)
6.186%, 9/19/31(9)
|
20
|
20
|
|
Broadstreet Partners, Inc.
2024, Tranche B (1 month
Term SOFR + 2.500%)
6.186%, 6/13/31(9)
|
115
|
113
|
|
|
|
216
|
|
|
|
|
|
|
||
|
Food / Tobacco—0.5%
|
|
|
|
Aspire Bakeries Holdings LLC
2025, Tranche B (1 month
Term SOFR + 3.000%)
6.686%, 12/23/30(9)
|
94
|
95
|
|
Del Monte Foods, Inc.
|
|
|
|
(1 month Term SOFR +
4.350%)
8.000%, 8/2/28(5)
|
43
|
1
|
|
(1 month Term SOFR +
4.850%)
8.480%, 8/2/28(5)
|
100
|
1
|
|
(1 month Term SOFR +
8.100%)
11.750%, 8/2/28(5)
|
19
|
9
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Food / Tobacco—continued
|
|
|
|
(1 month Term SOFR +
9.600%)
0.000%, 6/1/27(5)(10)
|
$23
|
$3
|
|
Pegasus Bidco B.V. (3 month
Term SOFR + 2.500%)
6.241%, 7/12/32(9)
|
55
|
55
|
|
Red SPV LLC (1 month Term
SOFR + 2.250%)
5.938%, 3/15/32(9)
|
133
|
133
|
|
Snacking Investments Bidco
Pty Ltd. (3 month Term
SOFR + 2.500%)
6.323%, 10/29/32(9)
|
35
|
35
|
|
Treehouse Foods, Inc. (1
month Term SOFR +
3.750%)
7.436%, 2/11/33(9)
|
70
|
70
|
|
|
|
402
|
|
|
|
|
|
|
||
|
Food and Drug—0.1%
|
|
|
|
Dechra Pharmaceuticals
Holdings Ltd. Tranche B-3
(6 month Term SOFR +
2.750%)
6.697%, 1/27/32(9)
|
79
|
79
|
|
Vital Bidco AB Tranche B
0.000%, 7/22/33(9)(13)
|
55
|
55
|
|
|
|
134
|
|
|
|
|
|
|
||
|
Forest Prod / Containers—0.1%
|
|
|
|
Clydesdale Acquisition
Holdings, Inc. Tranche B (1
month Term SOFR +
3.175%)
6.861%, 4/13/29(9)
|
50
|
50
|
|
Graham Packaging Co., Inc. (1
month Term SOFR +
2.250%)
5.936%, 1/26/33(9)
|
15
|
15
|
|
|
|
65
|
|
|
|
|
|
|
||
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Gaming / Leisure—0.6%
|
|
|
|
Catawba Nation Gaming
Authority Tranche B (3
month Term SOFR +
4.750%)
8.573%, 3/29/32(9)
|
$105
|
$106
|
|
ECL Entertainment LLC 2025,
Tranche B (1 month Term
SOFR + 3.000%)
6.686%, 8/30/30(9)
|
107
|
107
|
|
Gaia Purchaser, Inc. Tranche B
0.000%, 6/25/33(9)(13)
|
45
|
45
|
|
Motion Finco LLC Tranche B-3
(3 month Term SOFR +
3.500%)
7.232%, 11/12/29(9)
|
83
|
66
|
|
Oak-Eagle Acquireco, Inc.
Tranche B (3 month Term
SOFR + 3.500%)
7.251%, 8/4/33(9)
|
65
|
66
|
|
Pioneer Opco LLC Tranche B (1
month Term SOFR +
3.250%)
6.936%, 5/16/33(9)
|
25
|
25
|
|
Playtika Holding Corp. Tranche
B-1 (1 month Term SOFR +
2.864%)
6.551%, 3/13/28(9)
|
65
|
63
|
|
Turquoise Topco Ltd. (3 month
Term SOFR + 3.250%)
6.982%, 12/30/32(9)
|
65
|
65
|
|
|
|
543
|
|
|
|
|
|
|
||
|
Health Care—1.7%
|
|
|
|
Argent Finco LLC Tranche B (3
month Term SOFR +
2.500%)
6.232%, 11/12/32(9)
|
25
|
25
|
|
AthenaHealth Group, Inc. (1
month Term SOFR +
3.250%)
6.936%, 2/17/32(9)
|
25
|
25
|
|
Bausch & Lomb Corp. 2025 (1
month Term SOFR +
3.750%)
7.436%, 1/15/31(9)
|
97
|
98
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Health Care—continued
|
|
|
|
Catalent, Inc. (3 month Term
SOFR + 3.000%)
6.640%, 8/12/33(9)
|
$60
|
$60
|
|
CHG Healthcare Services, Inc.
(1-3 month Term SOFR +
3.000%)
6.686% - 6.823%,
9/29/31(9)
|
20
|
20
|
|
CNT Holdings I Corp. 2025 (3
month Term SOFR +
2.250%)
6.073%, 11/8/32(9)
|
117
|
117
|
|
Cotiviti, Inc. (1 month Term
SOFR + 2.750%)
6.456%, 5/1/31(9)
|
52
|
50
|
|
Endo Finance Holdings, Inc.
Tranche B (1 month Term
SOFR + 3.750%)
7.436%, 4/23/31(9)
|
25
|
24
|
|
Financiere Mendel (3 month
Term SOFR + 2.750%)
6.488%, 11/8/30(9)
|
34
|
35
|
|
Gainwell Acquisition Corp.
2026 (3 month Term SOFR +
4.500%)
8.223%, 8/19/31(9)
|
89
|
89
|
|
Genmab A/S Tranche B-1 (3
month Term SOFR +
2.000%)
5.732%, 12/13/32(9)
|
19
|
19
|
|
Global Medical Response, Inc.
(1 month Term SOFR +
3.250%)
6.909%, 10/1/32(9)
|
53
|
53
|
|
Grifols International Services
Designated Activity Co.
Tranche B, First Lien (6
month Term SOFR +
2.500%)
6.187%, 4/14/33(9)
|
120
|
120
|
|
Hanger, Inc.
|
|
|
|
(1 month Term SOFR +
3.500%)
7.186%, 10/23/31(9)
|
13
|
13
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Health Care—continued
|
|
|
|
(1 month Term SOFR +
3.500%)
7.186%, 10/23/31(9)
|
$139
|
$140
|
|
Heartland Dental LLC 2025 (1
month Term SOFR +
3.500%)
7.186%, 8/25/32(9)
|
15
|
15
|
|
Hologic, Inc. Tranche B (3
month Term SOFR +
2.250%)
5.995%, 4/7/33(9)
|
80
|
79
|
|
LifePoint Health, Inc. Tranche
B (3 month Term SOFR +
3.750%)
7.503%, 5/16/31(9)
|
118
|
113
|
|
Lumexa Imaging, Inc. (3
month Term SOFR +
2.500%)
6.232%, 12/17/32(9)
|
50
|
50
|
|
Mckesson Medical-Surgical
Top Holdings, Inc. Tranche B
(3 month Term SOFR +
2.250%)
5.982%, 6/9/32(9)
|
25
|
25
|
|
Medrisk, Inc. (1 month Term
SOFR + 3.250%)
6.936%, 6/16/33(9)
|
45
|
45
|
|
Modivcare, Inc. (3 month Term
SOFR + 5.000%)
8.732%, 12/2/30(9)
|
8
|
7
|
|
Parexel International, Inc.
Tranche B (1 month Term
SOFR + 2.500%)
6.186%, 12/12/31(9)
|
35
|
35
|
|
PointClickCare Technologies
2025, Tranche B, First Lien
(3 month Term SOFR +
2.750%)
6.573%, 11/3/31(9)
|
33
|
33
|
|
Radiology Partners, Inc.
Tranche B (3 month Term
SOFR + 4.500%)
8.232%, 6/30/32(9)
|
79
|
79
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Health Care—continued
|
|
|
|
Upstream Newco, Inc. 2025 (3
month Term SOFR +
4.512%)
8.241%, 11/20/29(9)
|
$185
|
$171
|
|
|
|
1,540
|
|
|
|
|
|
|
||
|
Housing—0.4%
|
|
|
|
Chariot Buyer LLC 2025,
Tranche B (1 month Term
SOFR + 2.750%)
6.436%, 9/8/32(9)
|
82
|
82
|
|
Green Infrastructure Partners,
Inc. (3 month Term SOFR +
2.750%)
6.482%, 9/24/32(9)
|
60
|
60
|
|
Hunter Douglas Holding B.V.
Tranche B-1 (3 month Term
SOFR + 3.000%)
6.732%, 1/17/32(9)
|
88
|
89
|
|
LBM Acquisition LLC Tranche
B (1 month Term SOFR +
3.850%)
7.538%, 6/6/31(9)
|
75
|
58
|
|
Qxo Building Products, Inc.
Tranche B (1 month Term
SOFR + 2.000%)
5.686%, 7/1/33(9)
|
45
|
45
|
|
|
|
334
|
|
|
|
|
|
|
||
|
Information Technology—1.5%
|
|
|
|
Applied Systems, Inc.
|
|
|
|
2024, Second Lien (3 month
Term SOFR + 4.500%)
8.232%, 2/23/32(9)
|
15
|
15
|
|
Tranche B-1 (3 month Term
SOFR + 2.250%)
5.982%, 2/24/31(9)
|
103
|
101
|
|
Belden, Inc. (1 month Term
SOFR + 2.250%)
5.936%, 7/1/33(9)
|
20
|
20
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Information Technology—continued
|
|
|
|
Central Parent LLC 2024 (3
month Term SOFR +
3.250%)
6.982%, 7/6/29(9)
|
$141
|
$69
|
|
Cloud Software Group, Inc.
Tranche B-2 (3 month Term
SOFR + 3.250%)
6.982%, 3/21/31(9)
|
98
|
94
|
|
Composecure Holdings LLC (3
month Term SOFR +
2.250%)
5.918%, 1/14/33(9)
|
45
|
45
|
|
ConnectWise LLC (3 month
Term SOFR + 3.762%)
7.494%, 9/29/28(9)
|
80
|
77
|
|
Coreweave Financing DDTL V
LLC (1 month Term SOFR +
4.500%)
8.150%, 11/15/31(9)
|
58
|
59
|
|
Delta TopCo, Inc. (3 month
Term SOFR + 2.750%)
6.402%, 11/30/29(9)
|
65
|
63
|
|
Esco Technologies, Inc.
Tranche B, First Lien
0.000%, 5/27/33(9)(13)
|
20
|
20
|
|
Finastra USA, Inc. (3 month
Term SOFR + 4.000%)
7.746%, 9/15/32(9)
|
70
|
67
|
|
Genesys Cloud Services
Holdings II LLC 2025 (1
month Term SOFR +
2.500%)
6.186%, 1/30/32(9)
|
94
|
92
|
|
Ion Platform Finance U.S., Inc.
(3 month Term SOFR +
3.750%)
7.482%, 10/7/32(9)
|
95
|
72
|
|
Javelin Buyer, Inc. (3 month
Term SOFR + 2.750%)
6.573%, 12/5/31(9)
|
75
|
73
|
|
Lambda, Inc. Tranche B
0.000%, 12/31/30(9)(13)
|
65
|
65
|
|
Project Ruby Ultimate Parent
Corp. Tranche B-5 (1 month
Term SOFR + 2.864%)
6.551%, 3/10/28(9)
|
60
|
60
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Information Technology—continued
|
|
|
|
Proofpoint, Inc. 2026 (3 month
Term SOFR + 4.500%)
8.249%, 8/30/30(9)
|
$103
|
$102
|
|
RealPage, Inc. First Lien (3
month Term SOFR +
3.262%)
6.994%, 4/24/28(9)
|
65
|
64
|
|
Rocket Software, Inc. (1 month
Term SOFR + 3.750%)
7.436%, 11/28/28(9)
|
102
|
101
|
|
Trio Bidco, Inc. Tranche B (3
month Term SOFR +
4.000%)
7.732%, 10/29/32(9)
|
59
|
59
|
|
UKG, Inc. Tranche B (3 month
Term SOFR + 2.250%)
6.073%, 2/10/31(9)
|
34
|
33
|
|
|
|
1,351
|
|
|
|
|
|
|
||
|
Manufacturing—0.8%
|
|
|
|
Columbus McKinnon Corp.
Tranche B (3 month Term
SOFR + 3.500%)
7.232%, 2/3/33(9)
|
44
|
44
|
|
Dwyer Instruments, Inc.
Tranche B (3 month Term
SOFR + 2.500%)
6.275%, 7/25/33(9)
|
35
|
35
|
|
Dynamo U.S. Bidco, Inc.
Tranche B-1 (1 month Term
SOFR + 3.250%)
6.936%, 9/30/31(9)
|
29
|
29
|
|
Glatfelter Corp. Tranche B (3
month Term SOFR +
4.250%)
8.073%, 11/4/31(9)
|
90
|
90
|
|
Gloves Buyer, Inc. (1 month
Term SOFR + 3.750%)
7.409%, 5/21/32(9)
|
90
|
90
|
|
Innio Group Holding GmbH
2026, Tranche B (1-3 month
Term SOFR + 1.750%)
5.430% - 5.511%,
11/3/31(9)
|
115
|
114
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Manufacturing—continued
|
|
|
|
Lsf12 Crown U.S. Commercial
Bidco LLC 2026 (1 month
Term SOFR + 2.500%)
6.243%, 12/2/31(9)
|
$120
|
$121
|
|
Resilience Parent LLC (3
month Term SOFR +
2.500%)
6.232%, 2/28/33(9)
|
65
|
65
|
|
Skyshield U.S. Bidco Ltd.
Tranche B (6 month Term
SOFR + 2.500%)
6.370%, 6/30/33(9)
|
20
|
20
|
|
TK Elevator Midco GmbH
Tranche B (6 month Term
SOFR + 2.750%)
6.704%, 4/30/30(9)
|
118
|
119
|
|
|
|
727
|
|
|
|
|
|
|
||
|
Media / Telecom - Broadcasting—0.4%
|
|
|
|
CMG Media Corp. (3 month
Term SOFR + 3.600%)
7.332%, 6/18/29(9)
|
129
|
121
|
|
DirectV Financing LLC 2026,
Tranche B (3 month Term
SOFR + 4.500%)
8.323%, 8/2/29(9)
|
34
|
34
|
|
Discovery Global Holdings,
Inc. (1 month Term SOFR +
2.500%)
6.186%, 6/3/33(9)
|
34
|
35
|
|
Sinclair Television Group, Inc.
Tranche B-7 (3 month Term
SOFR + 4.250%)
7.982%, 12/31/30(9)
|
75
|
67
|
|
Univision Communications,
Inc. 2024, First Lien (1
month Term SOFR +
3.500%)
7.301%, 1/31/29(9)
|
92
|
92
|
|
|
|
349
|
|
|
|
|
|
|
||
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Media / Telecom - Cable/Wireless
Video—0.1%
|
|
|
|
Cogeco Communications
Finance USA LP Tranche B-1
(1 month Term SOFR +
3.250%)
6.936%, 9/18/30(9)
|
$97
|
$78
|
|
Media / Telecom - Diversified
Media—0.3%
|
|
|
|
Century DE Buyer LLC 2025 (3
month Term SOFR +
3.000%)
6.823%, 10/30/30(9)
|
71
|
71
|
|
McGraw-Hill Education, Inc.
2025, Tranche B (1 month
Term SOFR + 2.500%)
6.186%, 8/6/31(9)
|
63
|
63
|
|
Neptune Bidco U.S., Inc. 2026,
Tranche B (3 month Term
SOFR + 5.100%)
8.863%, 2/3/33(9)
|
95
|
95
|
|
|
|
229
|
|
|
|
|
|
|
||
|
Media / Telecom -
Telecommunications—0.2%
|
|
|
|
Altice France S.A. Tranche
B-11 (3 month Term SOFR +
4.125%)
7.866%, 5/1/28(9)
|
160
|
160
|
|
Media / Telecom - Wireless
Communications—0.1%
|
|
|
|
Viasat, Inc. (1 month Term
SOFR + 4.614%)
8.273%, 3/2/29(9)
|
137
|
137
|
|
Metals / Minerals—0.1%
|
|
|
|
Worthington Steel, Inc. (1
month Term SOFR +
4.000%)
7.686%, 6/1/33(9)
|
61
|
61
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Retail—0.3%
|
|
|
|
Carvana Co. Tranche B
0.000%, 8/15/33(9)(13)
|
$75
|
$74
|
|
Harbor Freight Tools USA, Inc.
(1 month Term SOFR +
2.250%)
5.936%, 6/11/31(9)
|
70
|
71
|
|
Petco Health & Wellness Co.,
Inc. 2026 (3 month Term
SOFR + 4.250%)
7.982%, 2/3/31(9)
|
50
|
50
|
|
Pye Barker Fire & Safety LLC
|
|
|
|
(3 month Term SOFR +
2.500%)
6.232%, 12/16/32(9)
|
1
|
1
|
|
(3 month Term SOFR +
2.500%)
6.232%, 12/16/32(9)
|
29
|
29
|
|
Restoration Hardware, Inc. (1
month Term SOFR +
2.614%)
6.301%, 10/20/28(9)
|
40
|
39
|
|
Skechers USA, Inc. Tranche
B-1 (1 month Term SOFR +
2.750%)
6.436%, 9/13/32(9)
|
35
|
35
|
|
|
|
299
|
|
|
|
|
|
|
||
|
Service—1.2%
|
|
|
|
Adi Global Distribution
Funding LLC (1 month Term
SOFR + 2.750%)
6.436%, 7/1/33(9)
|
10
|
10
|
|
Ascend Learning LLC (1 month
Term SOFR + 3.000%)
6.685%, 12/11/28(9)
|
71
|
71
|
|
BIFM U.S. Finance LLC 2025,
First Lien (1 month Term
SOFR + 3.250%)
6.936%, 5/31/28(9)
|
63
|
63
|
|
DG Investment Intermediate
Holdings 2, Inc. (1 month
Term SOFR + 3.000%)
6.686%, 7/9/32(9)
|
85
|
85
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Service—continued
|
|
|
|
EnergySolutions LLC Tranche
B
0.000%, 7/23/33(9)(13)
|
$50
|
$50
|
|
Ensemble RCM LLC Tranche B
(3 month Term SOFR +
3.000%)
6.823%, 2/9/33(9)
|
65
|
65
|
|
Fugue Finance B.V. Tranche B
(3 month Term SOFR +
2.250%)
6.017%, 1/9/32(9)
|
60
|
60
|
|
Garda World Security Corp. (3
month Term SOFR +
2.750%)
6.513%, 2/1/29(9)
|
107
|
107
|
|
Kuehg Corp. (3 month Term
SOFR + 2.750%)
6.482%, 6/12/30(9)
|
66
|
61
|
|
NAB Holdings LLC 2025 (3
month Term SOFR +
2.500%)
6.232%, 11/24/28(9)
|
134
|
123
|
|
Omnia Partners LLC (3 month
Term SOFR + 2.750%)
6.417%, 12/31/32(9)
|
73
|
74
|
|
Openlane, Inc. 2025 (3 month
Term SOFR + 2.500%)
6.261%, 10/8/32(9)
|
30
|
30
|
|
Trugreen Ltd. Partnership First
Lien (1 month Term SOFR +
4.100%)
7.786%, 11/2/27(9)
|
146
|
136
|
|
Vantor Holdings, Inc. (3 month
Term SOFR + 4.250%)
7.868%, 3/3/33(9)
|
85
|
85
|
|
|
|
1,020
|
|
|
|
|
|
|
||
|
Transportation - Automotive—0.1%
|
|
|
|
Mavis Tire Express Services
Topco Corp. (6 month Term
SOFR + 3.250%)
6.920%, 5/6/33(9)
|
70
|
70
|
|
|
Par
Value(1)
|
Value
|
|
|
|
|
|
Transportation - Shipping—0.0%
|
|
|
|
Carrix, Inc. (3 month Term
SOFR + 2.000%)
5.810%, 7/15/33(9)
|
$30
|
$30
|
|
Utilities—0.2%
|
|
|
|
AL GCX Holdings LLC Tranche
B (1 month Term SOFR +
2.000%)
5.901%, 12/17/32(9)
|
67
|
67
|
|
Birdsboro Power LLC Tranche
B (3 month Term SOFR +
3.750%)
7.500%, 6/24/33(9)
|
45
|
45
|
|
Pathfinder Power LLC Tranche
B
0.000%, 6/22/33(9)(13)
|
70
|
70
|
|
|
|
182
|
|
|
|
|
|
|
||
|
Total Leveraged Loans
(Identified Cost $9,549)
|
9,250
|
|
|
|
Shares
|
|
|
Convertible Preferred Stocks—0.3%
|
||
|
Communication Services—0.0%
|
|
|
|
Alphabet, Inc. Series A, 6.250
|
622
|
30
|
|
Alphabet, Inc. Series B, 6.250
|
222
|
11
|
|
|
|
41
|
|
|
|
|
|
|
||
|
Financials—0.1%
|
|
|
|
Ares Management Corp. Series
B, 6.750
|
300
|
14
|
|
Bank of America Corp. Series
L, 7.250
|
5
|
6
|
|
KKR & Co., Inc. Series D,
6.250
|
350
|
17
|
|
Wells Fargo & Co. Series L,
7.500
|
29
|
33
|
|
|
|
70
|
|
|
|
|
|
|
||
|
|
Shares
|
Value
|
|
|
|
|
|
Health Care—0.0%
|
|
|
|
BrightSpring Health Services,
Inc., 6.750
|
98
|
$19
|
|
Industrials—0.1%
|
|
|
|
Boeing Co. (The), 6.000
|
850
|
55
|
|
Information Technology—0.1%
|
|
|
|
Hewlett Packard Enterprise
Co., 7.625
|
350
|
47
|
|
Materials—0.0%
|
|
|
|
Albemarle Corp., 7.250
|
450
|
25
|
|
Real Estate—0.0%
|
|
|
|
EPR Properties Series C, 5.750
|
800
|
21
|
|
Total Convertible Preferred
Stocks
(Identified Cost $270)
|
278
|
|
|
|
|
|
|
|
||
|
Preferred Stocks—0.6%
|
||
|
Financials—0.6%
|
|
|
|
American Express Co. Series E,
6.450%(2)
|
240
(14)
|
242
|
|
Capital Farm Credit ACA Series
1 144A, 8.393%(3)
|
275
(14)
|
270
|
|
|
|
512
|
|
|
|
|
|
|
||
|
Total Preferred Stocks
(Identified Cost $516)
|
512
|
|
|
|
|
|
|
|
||
|
Common Stocks—0.2%
|
||
|
Communication Services—0.1%
|
|
|
|
Altice Luxembourg S.A.(15)
|
154
|
2
|
|
Atento Luxco 1 S.A.(15)
|
4,072
|
76
|
|
|
|
78
|
|
|
|
|
|
|
||
|
Consumer Discretionary—0.0%
|
|
|
|
MYT Holding LLC
Class B(10)(15)
|
29,850
|
7
|
|
|
Shares
|
Value
|
|
|
|
|
|
Consumer Discretionary—continued
|
|
|
|
NMG Parent LLC Escrow(10)(15)
|
618
|
$—
|
|
|
|
7
|
|
|
|
|
|
|
||
|
Health Care—0.0%
|
|
|
|
Lannett Co., Inc.(10)(15)
|
1,663
|
3
|
|
Modivcare(15)
|
1,558
|
7
|
|
|
|
10
|
|
|
|
|
|
|
||
|
Materials—0.1%
|
|
|
|
Klockner Pentaplast(10)(15)
|
19,863
|
33
|
|
Total Common Stocks
(Identified Cost $133)
|
128
|
|
|
|
|
|
|
|
||
|
Total Long-Term
Investments—142.7%
(Identified Cost $126,679)
|
125,677
|
|
|
|
|
|
|
|
||
|
TOTAL INVESTMENTS—142.7%
(Identified Cost $126,679)
|
$125,677
|
|
|
Other assets and liabilities, net—(42.7)%
|
(37,602
)
|
|
|
NET ASSETS—100.0%
|
$88,075
|
|
|
Abbreviations:
|
|
|
ACA
|
American Capital Access Financial Guarantee
Corp.
|
|
BDC
|
Business Development Companies
|
|
DAC
|
Designated Activity Company
|
|
JSC
|
Joint Stock Company
|
|
LLC
|
Limited Liability Company
|
|
LLP
|
Limited Liability Partnership
|
|
LP
|
Limited Partnership
|
|
PIK
|
Payment-in-Kind Security
|
|
plc
|
Public Limited Company
|
|
S.a.r.l.
|
Société à responsabilité limitée
|
|
SOFR
|
Secured Overnight Financing Rate
|
|
Footnote Legend:
|
|
|
(1)
|
Par Value disclosed in foreign currency is
reported in thousands.
|
|
(2)
|
All or a portion of securities is segregated as
collateral for margin loan financing. The value of
securities segregated as collateral is $48,038.
|
|
(3)
|
Security exempt from registration under
Rule 144A of the Securities Act of 1933. These
securities may be resold in transactions exempt
from registration, normally to qualified
institutional buyers. At August 31, 2026, these
securities amounted to a value of $62,901 or
71.4% of net assets.
|
|
(4)
|
Regulation S security. Security is offered and
sold outside of the United States; therefore, it is
exempt from registration with the SEC under
Rules 903 and 904 of the Securities Act of 1933.
|
|
(5)
|
Security in default; no interest payments are
being received.
|
|
(6)
|
Represents step coupon bond. Rate shown
reflects the rate in effect as of August 31, 2026.
|
|
(7)
|
Issued with a zero coupon. Income is recognized
through the accretion of discount.
|
|
(8)
|
Amount is less than $500 (not in thousands).
|
|
(9)
|
Variable rate security. Rate disclosed is as of
August 31, 2026. Information in parenthesis
represents benchmark and reference rate for
each security. Certain variable rate securities are
not based on a published reference rate and
spread but are determined by the issuer or agent
and are based on current market conditions, or,
for mortgage-backed securities, are impacted by
the individual mortgages which are paying off
over time. These securities do not indicate a
reference rate and spread in their descriptions.
|
|
(10)
|
The value of this security was determined using
significant unobservable inputs and is reported
as a Level 3 security in the Fair Value Hierarchy
table located after the Schedule of Investments.
|
|
(11)
|
No contractual maturity date.
|
|
(12)
|
Payment-in-kind security which may pay
interest/dividends in additional par/shares
and/or in cash. Rates shown are the current rate
and possible payment rates.
|
|
(13)
|
This loan will settle after August 31, 2026, at
which time the interest rate, calculated on the
base lending rate and the agreed upon spread on
trade date, will be reflected.
|
|
(14)
|
Value shown as par value.
|
|
(15)
|
Non-income producing.
|
|
Foreign Currencies:
|
|
|
BRL
|
Brazilian Real
|
|
CZK
|
Czech Koruna
|
|
HUF
|
Hungarian Forint
|
|
MXN
|
Mexican Peso
|
|
MYR
|
Malaysian Ringgit
|
|
ZAR
|
South African Rand
|
|
Country Weightings†
|
|
|
United States
|
50
%
|
|
Mexico
|
4
|
|
Brazil
|
2
|
|
Turkey
|
2
|
|
South Africa
|
2
|
|
Saudi Arabia
|
2
|
|
Indonesia
|
2
|
|
Other
|
36
|
|
Total
|
100
%
|
|
† % of total investments as of August 31, 2026.
|
|
|
Borrower
|
Par Value
|
Commitment
|
Value
|
Unrealized
Appreciation
(Depreciation)
|
|
Carrix, Inc., 7/15/33
|
$5
|
$5
|
$5
|
$—
(1)
|
|
Coreweave Financing DDTL V LLC, 11/15/31
|
77
|
78
|
77
|
(1
)
|
|
Dwyer Instruments, Inc., 7/15/33
|
2
|
2
|
2
|
—
(1)
|
|
Hanger, Inc., 10/23/31
|
5
|
5
|
5
|
—
(1)
|
|
Pye Barker Fire & Safety LLC, 12/16/32
|
4
|
4
|
4
|
—
(1)
|
|
Trio Bidco, Inc. Tranche B, 10/29/32
|
6
|
6
|
6
|
—
(1)
|
|
Total
|
$99
|
$100
|
$99
|
$(1
)
|
|
(1)
|
Amount is less than $500 (not in thousands).
|
|
|
Total
Value at
August 31, 2026
|
Level 1
Quoted Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Assets:
|
|
|
|
|
|
Debt Instruments:
|
|
|
|
|
|
U.S. Government Securities
|
$1,767
|
$—
|
$1,767
|
$—
|
|
Foreign Government Securities
|
45,479
|
—
|
45,479
|
—
|
|
Mortgage-Backed Securities
|
13,665
|
—
|
13,665
|
—
|
|
Asset-Backed Securities
|
9,044
|
—
|
9,044
|
—
|
|
Convertible Bonds and Notes
|
2,359
|
—
|
2,359
|
—
|
|
Corporate Bonds and Notes
|
43,195
|
—
|
43,117
|
78
(1)
|
|
Leveraged Loans
|
9,250
|
—
|
9,247
|
3
|
|
Equity Securities:
|
|
|
|
|
|
Convertible Preferred Stocks
|
278
|
278
|
—
|
—
|
|
Preferred Stocks
|
512
|
—
|
512
|
—
|
|
Common Stocks
|
128
|
—
|
85
|
43
(1)
|
|
Other Financial Instruments:
|
|
|
|
|
|
Unfunded Loan Commitments*
|
(1
)
|
—
|
(1
)
|
—
|
|
Total Investments
|
$125,676
|
$278
|
$125,274
|
$124
|
|
(1)
|
Includes internally fair valued securities currently priced at zero ($0).
|
|
*
|
Unfunded Loan Commitments are valued at the net unrealized appreciation (depreciation).
|