Credit Suisse High Yield Bond Fund
Schedule of Investments
July 31, 2023 (unaudited)
Par (000) |
Ratings |
Maturity | Rate% | Value | ||||||||||||||
CORPORATE BONDS (95.9%) |
||||||||||||||||||
Aerospace & Defense (0.6%) |
||||||||||||||||||
$ | 300 | Bombardier, Inc., Rule 144A, Senior Unsecured Notes (Callable 02/01/26 @ 103.75)(1),(2) |
(B, B2) | 02/01/29 | 7.500 | $ | 297,492 | |||||||||||
1,055 | KBR, Inc., Rule 144A, Company Guaranteed Notes (Callable 09/30/23 @ 102.38)(1) |
(BB-, Ba3) | 09/30/28 | 4.750 | 966,348 | |||||||||||||
|
|
|||||||||||||||||
1,263,840 | ||||||||||||||||||
|
|
|||||||||||||||||
Air Transportation (0.7%) |
||||||||||||||||||
450 | VistaJet Malta Finance PLC/Vista Management Holding, Inc., Rule 144A, Senior Unsecured Notes (Callable 05/01/24 @ 103.94)(1),(2) |
(B-, B3) | 05/01/27 | 7.875 | 417,797 | |||||||||||||
1,200 | VistaJet Malta Finance PLC/Vista Management Holding, Inc., Rule 144A, Senior Unsecured Notes (Callable 02/01/25 @ 103.19)(1) |
(B-, B3) | 02/01/30 | 6.375 | 1,017,258 | |||||||||||||
|
|
|||||||||||||||||
1,435,055 | ||||||||||||||||||
|
|
|||||||||||||||||
Auto Parts & Equipment (1.0%) |
||||||||||||||||||
600 | Adient Global Holdings Ltd., Rule 144A, Senior Secured Notes |
(BB+, Ba3) | 04/15/28 | 7.000 | 605,002 | |||||||||||||
1,480 | Clarios Global LP/Clarios U.S. Finance Co., Rule 144A, Company Guaranteed Notes |
(B-, Caa1) | 05/15/27 | 8.500 | 1,501,263 | |||||||||||||
|
|
|||||||||||||||||
2,106,265 | ||||||||||||||||||
|
|
|||||||||||||||||
Automakers (0.2%) |
||||||||||||||||||
300 | Thor Industries, Inc., Rule 144A, Company Guaranteed Notes |
(BB-, B1) | 10/15/29 | 4.000 | 258,083 | |||||||||||||
198 | Winnebago Industries, Inc., Rule 144A, Senior Secured Notes |
(BB+, Ba3) | 07/15/28 | 6.250 | 192,294 | |||||||||||||
|
|
|||||||||||||||||
450,377 | ||||||||||||||||||
|
|
|||||||||||||||||
Brokerage (1.2%) |
||||||||||||||||||
2,520 | StoneX Group, Inc., Rule 144A, Senior Secured Notes (Callable 08/31/23 @ 102.16)(1) |
(BB-, Ba3) | 06/15/25 | 8.625 | 2,550,329 | |||||||||||||
|
|
|||||||||||||||||
Building & Construction (2.5%) |
||||||||||||||||||
2,010 | Adams Homes, Inc., Rule 144A, Company Guaranteed Notes |
(B+, B2) | 02/15/25 | 7.500 | 1,982,848 | |||||||||||||
1,000 | MasTec, Inc., Rule 144A, Senior Unsecured Notes (Callable 08/15/24 @ 103.31)(1) |
(BBB-, NR) | 08/15/29 | 6.625 | 948,726 | |||||||||||||
2,361 | Pike Corp., Rule 144A, Company Guaranteed Notes (Callable 09/01/23 @ 102.75)(1) |
(CCC+, B3) | 09/01/28 | 5.500 | 2,127,202 | |||||||||||||
525 | TopBuild Corp., Rule 144A, Company Guaranteed Notes (Callable 03/15/24 @ 101.81)(1) |
(BB+, Ba2) | 03/15/29 | 3.625 | 460,922 | |||||||||||||
|
|
|||||||||||||||||
5,519,698 | ||||||||||||||||||
|
|
|||||||||||||||||
Building Materials (5.8%) |
||||||||||||||||||
1,425 | Advanced Drainage Systems, Inc., Rule 144A, Company Guaranteed Notes |
(BB-, Ba2) | 06/15/30 | 6.375 | 1,411,958 | |||||||||||||
300 | Builders FirstSource, Inc., Rule 144A, Company Guaranteed Notes |
(BB-, Ba2) | 03/01/30 | 5.000 | 280,800 | |||||||||||||
1,500 | Builders FirstSource, Inc., Rule 144A, Company Guaranteed Notes |
(BB-, Ba2) | 06/15/32 | 6.375 | 1,493,205 | |||||||||||||
1,150 | Eco Material Technologies, Inc., Rule 144A, Senior Secured Notes |
(B, B2) | 01/31/27 | 7.875 | 1,099,670 | |||||||||||||
3,389 | Foundation Building Materials, Inc., Rule 144A, Company Guaranteed Notes |
(CCC+, Caa1) | 03/01/29 | 6.000 | 2,939,950 | |||||||||||||
1,000 | GYP Holdings III Corp., Rule 144A, Company Guaranteed Notes |
(B, B1) | 05/01/29 | 4.625 | 894,305 | |||||||||||||
2,797 | MIWD Holdco II LLC/MIWD Finance Corp., Rule 144A, Company Guaranteed Notes (Callable 02/01/25 @ 102.75)(1) |
(B, B3) | 02/01/30 | 5.500 | 2,366,528 | |||||||||||||
1,750 | Oscar AcquisitionCo LLC/Oscar Finance, Inc., Rule 144A, Senior Unsecured
Notes |
(CCC+, Caa1) | 04/15/30 | 9.500 | 1,667,339 | |||||||||||||
700 | Park River Holdings, Inc., Rule 144A, Senior Unsecured Notes |
(CCC, Caa1) | 08/01/29 | 6.750 | 568,032 | |||||||||||||
|
|
|||||||||||||||||
12,721,787 | ||||||||||||||||||
|
|
Credit Suisse High Yield Bond Fund
Schedule of Investments (continued)
July 31, 2023 (unaudited)
Par (000) |
Ratings |
Maturity | Rate% | Value | ||||||||||||||
CORPORATE BONDS (continued) |
||||||||||||||||||
Cable & Satellite TV (3.9%) |
||||||||||||||||||
$ | 1,200 | Altice Financing SA, Rule 144A, Senior Secured Notes (Callable 08/31/23 @ 102.50)(1) |
(B, B3) | 01/15/28 | 5.000 | $ | 929,212 | |||||||||||
1,800 | CCO Holdings LLC/CCO Holdings Capital Corp., Rule 144A, Senior Unsecured Notes |
(BB-, B1) | 03/01/31 | 7.375 | 1,790,749 | |||||||||||||
1,315 | CSC Holdings LLC, Global Senior Unsecured Notes |
(CCC+, Caa2) | 06/01/24 | 5.250 | 1,227,603 | |||||||||||||
525 | CSC Holdings LLC, Rule 144A, Company Guaranteed Notes |
(B, B2) | 04/15/27 | 5.500 | 450,958 | |||||||||||||
750 | CSC Holdings LLC, Rule 144A, Company Guaranteed Notes |
(B, B2) | 02/01/28 | 5.375 | 627,168 | |||||||||||||
900 | CSC Holdings LLC, Rule 144A, Company Guaranteed Notes |
(B, B2) | 11/15/31 | 4.500 | 646,575 | |||||||||||||
2,000 | Telenet Finance Luxembourg Notes Sarl, Rule 144A, Senior Secured Notes |
(BB-, Ba3) | 03/01/28 | 5.500 | 1,842,700 | |||||||||||||
1,200 | UPC Broadband Finco BV, Rule 144A, Senior Secured Notes |
(BB-, B1) | 07/15/31 | 4.875 | 1,008,892 | |||||||||||||
|
|
|||||||||||||||||
8,523,857 | ||||||||||||||||||
|
|
|||||||||||||||||
Chemicals (4.9%) |
||||||||||||||||||
300 | Avient Corp., Rule 144A, Senior Unsecured Notes (Callable 08/31/23 @ 101.44)(1) |
(BB-, Ba3) | 05/15/25 | 5.750 | 296,065 | |||||||||||||
715 | Avient Corp., Rule 144A, Senior Unsecured Notes (Callable 08/01/25 @ 103.56)(1) |
(BB-, Ba3) | 08/01/30 | 7.125 | 721,428 | |||||||||||||
950 | Herens Holdco Sarl, Rule 144A, Senior Secured Notes (Callable 05/15/24 @ 102.38)(1) |
(B-, B2) | 05/15/28 | 4.750 | 723,986 | |||||||||||||
1,200 | Herens Midco Sarl, Rule 144A, Company Guaranteed Notes |
(CCC, Caa2) | 05/15/29 | 5.250 | 716,053 | |||||||||||||
1,950 | INEOS Finance PLC, Rule 144A, Senior Secured Notes |
(BB, Ba2) | 05/15/28 | 6.750 | 1,862,250 | |||||||||||||
525 | Olympus Water U.S. Holding Corp., Rule 144A, Senior Unsecured Notes |
(CCC+, Caa2) | 10/01/29 | 6.250 | 387,521 | |||||||||||||
2,100 | Polar U.S. Borrower LLC/Schenectady International Group, Inc., Rule 144A, Senior Unsecured
Notes |
(CCC, Caa2) | 05/15/26 | 6.750 | 1,226,389 | |||||||||||||
1,200 | Tronox, Inc., Rule 144A, Company Guaranteed Notes (Callable 03/15/24 @ 102.31)(1) |
(BB-, B1) | 03/15/29 | 4.625 | 996,958 | |||||||||||||
3,335 | Vibrantz Technologies, Inc., Rule 144A, Senior Unsecured Notes |
(CCC+, Caa2) | 02/15/30 | 9.000 | 2,722,294 | |||||||||||||
1,100 | WR Grace Holdings LLC, Rule 144A, Senior Secured Notes |
(B, B1) | 03/01/31 | 7.375 | 1,096,276 | |||||||||||||
|
|
|||||||||||||||||
10,749,220 | ||||||||||||||||||
|
|
|||||||||||||||||
Consumer/Commercial/Lease Financing (1.0%) |
||||||||||||||||||
2,400 | Cargo Aircraft Management, Inc., Rule 144A, Company Guaranteed Notes |
(BB, Ba2) | 02/01/28 | 4.750 | 2,136,930 | |||||||||||||
|
|
|||||||||||||||||
Diversified Capital Goods (0.8%) |
||||||||||||||||||
2,025 | Atkore, Inc., Rule 144A, Senior Unsecured Notes (Callable 06/01/26 @ 102.13)(1) |
(BB, Ba2) | 06/01/31 | 4.250 | 1,753,751 | |||||||||||||
|
|
|||||||||||||||||
Electronics (0.5%) |
||||||||||||||||||
1,200 | Synaptics, Inc., Rule 144A, Company Guaranteed Notes |
(B+, Ba3) | 06/15/29 | 4.000 | 1,037,150 | |||||||||||||
|
|
|||||||||||||||||
Energy - Exploration & Production (2.6%) |
||||||||||||||||||
650 | Civitas Resources, Inc., Rule 144A, Company Guaranteed Notes |
(BB-, B1) | 07/01/28 | 8.375 | 669,377 | |||||||||||||
650 | Civitas Resources, Inc., Rule 144A, Company Guaranteed Notes |
(BB-, B1) | 07/01/31 | 8.750 | 673,562 | |||||||||||||
62 | CNX Resources Corp., Rule 144A, Company Guaranteed Notes |
(BB, B1) | 03/14/27 | 7.250 | 62,064 | |||||||||||||
800 | CNX Resources Corp., Rule 144A, Company Guaranteed Notes |
(BB, B1) | 01/15/29 | 6.000 | 748,881 | |||||||||||||
2,515 | Northern Oil & Gas, Inc., Rule 144A, Senior Unsecured Notes |
(B+, B2) | 03/01/28 | 8.125 | 2,498,539 | |||||||||||||
1,080 | Rockcliff Energy II LLC, Rule 144A, Senior Unsecured Notes |
(B+, B3) | 10/15/29 | 5.500 | 990,044 | |||||||||||||
|
|
|||||||||||||||||
5,642,467 | ||||||||||||||||||
|
|
Credit Suisse High Yield Bond Fund
Schedule of Investments (continued)
July 31, 2023 (unaudited)
Par (000) |
Ratings |
Maturity | Rate% | Value | ||||||||||||||
CORPORATE BONDS (continued) |
||||||||||||||||||
Environmental (0.4%) |
||||||||||||||||||
$ | 900 | Darling Ingredients, Inc., Rule 144A, Company Guaranteed Notes |
(BB+, Ba2) | 06/15/30 | 6.000 | $ | 887,346 | |||||||||||
|
|
|||||||||||||||||
Food - Wholesale (0.5%) |
||||||||||||||||||
1,150 | U.S. Foods, Inc., Rule 144A, Company Guaranteed Notes |
(BB-, B2) | 06/01/30 | 4.625 | 1,035,389 | |||||||||||||
|
|
|||||||||||||||||
Gaming (2.0%) |
||||||||||||||||||
500 | Boyd Gaming Corp., Rule 144A, Company Guaranteed Notes |
(BB, B1) | 06/15/31 | 4.750 | 447,838 | |||||||||||||
1,200 | CDI Escrow Issuer, Inc., Rule 144A, Senior Unsecured Notes |
(B+, B1) | 04/01/30 | 5.750 | 1,115,565 | |||||||||||||
1,250 | Churchill Downs, Inc., Rule 144A, Company Guaranteed Notes |
(B+, B1) | 05/01/31 | 6.750 | 1,223,313 | |||||||||||||
332 | Churchill Downs, Inc., Rule 144A, Company Guaranteed Notes |
(B+, B1) | 01/15/28 | 4.750 | 307,161 | |||||||||||||
1,238 | Jacobs Entertainment, Inc., Rule 144A, Senior Unsecured Notes |
(B, B2) | 02/15/29 | 6.750 | 1,126,648 | |||||||||||||
300 | Jacobs Entertainment, Inc., Rule 144A, Senior Unsecured Notes |
(B, B2) | 02/15/29 | 6.750 | 267,099 | |||||||||||||
|
|
|||||||||||||||||
4,487,624 | ||||||||||||||||||
|
|
|||||||||||||||||
Gas Distribution (5.2%) |
||||||||||||||||||
1,500 | CNX Midstream Partners LP, Rule 144A, Company Guaranteed Notes |
(BB, B1) | 04/15/30 | 4.750 | 1,302,064 | |||||||||||||
1,125 | Genesis Energy LP/Genesis Energy Finance Corp., Company Guaranteed Notes |
(B, B2) | 05/15/26 | 6.250 | 1,074,383 | |||||||||||||
429 | Genesis Energy LP/Genesis Energy Finance Corp., Global Company Guaranteed Notes |
(B, B2) | 04/15/30 | 8.875 | 428,411 | |||||||||||||
1,800 | Hess Midstream Operations LP, Rule 144A, Company Guaranteed Notes |
(BB+, Ba2) | 06/15/28 | 5.125 | 1,703,175 | |||||||||||||
600 | Hess Midstream Operations LP, Rule 144A, Company Guaranteed Notes |
(BB+, Ba2) | 10/15/30 | 5.500 | 563,444 | |||||||||||||
600 | Holly Energy Partners LP/Holly Energy Finance Corp., Rule 144A, Company Guaranteed Notes (Callable 04/15/24 @ 103.19)(1) |
(BB+, Ba3) | 04/15/27 | 6.375 | 596,719 | |||||||||||||
300 | Matador Resources Co., Rule 144A, Company Guaranteed Notes |
(BB-, B1) | 04/15/28 | 6.875 | 298,423 | |||||||||||||
600 | New Fortress Energy, Inc., Rule 144A, Senior Secured Notes |
(BB, B1) | 09/15/25 | 6.750 | 572,656 | |||||||||||||
1,750 | New Fortress Energy, Inc., Rule 144A, Senior Secured Notes |
(BB, B1) | 09/30/26 | 6.500 | 1,607,856 | |||||||||||||
1,770 | Rockies Express Pipeline LLC, Rule 144A, Senior Unsecured Notes |
(BB+, Ba2) | 07/15/29 | 4.950 | 1,625,196 | |||||||||||||
915 | Rockies Express Pipeline LLC, Rule 144A, Senior Unsecured Notes |
(BB+, Ba2) | 05/15/30 | 4.800 | 810,579 | |||||||||||||
750 | Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., Rule 144A, Company Guaranteed
Notes |
(BB-, B1) | 10/01/25 | 7.500 | 751,991 | |||||||||||||
|
|
|||||||||||||||||
11,334,897 | ||||||||||||||||||
|
|
|||||||||||||||||
Health Facility (0.5%) |
||||||||||||||||||
1,200 | Option Care Health, Inc., Rule 144A, Company Guaranteed Notes |
(B-, B2) | 10/31/29 | 4.375 | 1,068,108 | |||||||||||||
|
|
|||||||||||||||||
Health Services (1.8%) |
||||||||||||||||||
1,560 | AMN Healthcare, Inc., Rule 144A, Company Guaranteed Notes |
(BB-, Ba3) | 04/15/29 | 4.000 | 1,384,071 | |||||||||||||
2,400 | AthenaHealth Group, Inc., Rule 144A, Senior Unsecured Notes |
(CCC, Caa2) | 02/15/30 | 6.500 | 2,036,477 | |||||||||||||
669 | Pediatrix Medical Group, Inc., Rule 144A, Company Guaranteed Notes |
(BB-, Ba3) | 02/15/30 | 5.375 | 604,377 | |||||||||||||
|
|
|||||||||||||||||
4,024,925 | ||||||||||||||||||
|
|
|||||||||||||||||
Insurance Brokerage (4.4%) |
||||||||||||||||||
1,000 | Acrisure LLC/Acrisure Finance, Inc., Rule 144A, Senior Unsecured Notes |
(CCC+, Caa2) | 08/01/26 | 10.125 | 1,024,630 | |||||||||||||
893 | GTCR AP Finance, Inc., Rule 144A, Senior Unsecured Notes |
(CCC+, Caa2) | 05/15/27 | 8.000 | 885,246 |
Credit Suisse High Yield Bond Fund
Schedule of Investments (continued)
July 31, 2023 (unaudited)
Par (000) |
Ratings |
Maturity | Rate% | Value | ||||||||||||||
CORPORATE BONDS (continued) |
||||||||||||||||||
Insurance Brokerage (continued) |
||||||||||||||||||
$ | 900 | Jones Deslauriers Insurance Management, Inc., Rule 144A, Senior Secured Notes |
(B-, B2) | 03/15/30 | 8.500 | $ | 918,828 | |||||||||||
1,500 | Jones Deslauriers Insurance Management, Inc., Rule 144A, Senior Unsecured
Notes |
(CCC, Caa2) | 12/15/30 | 10.500 | 1,486,812 | |||||||||||||
600 | NFP Corp., Rule 144A, Senior Secured Notes (Callable 10/01/25 @ 103.75)(1) |
(B, B1) | 10/01/30 | 7.500 | 584,069 | |||||||||||||
4,055 | NFP Corp., Rule 144A, Senior Unsecured Notes (Callable 08/31/23 @ 103.44)(1) |
(CCC+, Caa2) | 08/15/28 | 6.875 | 3,594,568 | |||||||||||||
1,200 | Ryan Specialty LLC, Rule 144A, Senior Secured Notes (Callable 02/01/25 @ 102.19)(1) |
(BB-, B1) | 02/01/30 | 4.375 | 1,063,126 | |||||||||||||
|
|
|||||||||||||||||
9,557,279 | ||||||||||||||||||
|
|
|||||||||||||||||
Investments & Misc. Financial Services (3.0%) |
||||||||||||||||||
2,850 | Armor Holdco, Inc., Rule 144A, Company Guaranteed Notes |
(CCC+, Caa1) | 11/15/29 | 8.500 | 2,428,181 | |||||||||||||
2,050 | Compass Group Diversified Holdings LLC, Rule 144A, Company Guaranteed Notes |
(B+, B1) | 04/15/29 | 5.250 | 1,868,103 | |||||||||||||
1,150 | Compass Group Diversified Holdings LLC, Rule 144A, Senior Unsecured Notes |
(B+, B1) | 01/15/32 | 5.000 | 948,201 | |||||||||||||
153 | Home Point Capital, Inc., Rule 144A, Company Guaranteed Notes |
(NR, Caa1) | 02/01/26 | 5.000 | 142,939 | |||||||||||||
900 | Paysafe Finance PLC/Paysafe Holdings U.S. Corp., Rule 144A, Senior Secured Notes |
(B, B2) | 06/15/29 | 4.000 | 733,364 | |||||||||||||
600 | Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc., Rule 144A, Company Guaranteed Notes (Callable 08/31/23 @ 102.31)(1) |
(NR, Ba3) | 11/01/26 | 4.625 | 566,040 | |||||||||||||
|
|
|||||||||||||||||
6,686,828 | ||||||||||||||||||
|
|
|||||||||||||||||
Machinery (4.3%) |
||||||||||||||||||
2,150 | Arcosa, Inc., Rule 144A, Company Guaranteed Notes (Callable 04/15/24 @ 102.19)(1) |
(BB, Ba2) | 04/15/29 | 4.375 | 1,937,332 | |||||||||||||
1,595 | ATS Corp., Rule 144A, Company Guaranteed Notes (Callable 12/15/23 @ 102.06)(1) |
(BB-, B2) | 12/15/28 | 4.125 | 1,428,178 | |||||||||||||
2,100 | Dornoch Debt Merger Sub, Inc., Rule 144A, Senior Unsecured Notes |
(CCC, Caa2) | 10/15/29 | 6.625 | 1,803,198 | |||||||||||||
2,435 | Enviri Corp., Rule 144A, Company Guaranteed Notes (Callable 08/31/23 @ 101.44)(1) |
(B, B3) | 07/31/27 | 5.750 | 2,106,153 | |||||||||||||
600 | Hillenbrand, Inc., Global Company Guaranteed Notes (Callable 08/11/23 @ 101.44) |
(BB+, Ba1) | 06/15/25 | 5.750 | 594,374 | |||||||||||||
600 | Interface, Inc., Rule 144A, Company Guaranteed Notes (Callable 12/01/23 @ 102.75)(1) |
(B+, B1) | 12/01/28 | 5.500 | 503,994 | |||||||||||||
500 | Regal Rexnord Corp., Rule 144A, Company Guaranteed Notes |
(BB+, Baa3) | 02/15/30 | 6.300 | 498,715 | |||||||||||||
500 | Regal Rexnord Corp., Rule 144A, Company Guaranteed Notes |
(BB+, Baa3) | 04/15/33 | 6.400 | 498,669 | |||||||||||||
|
|
|||||||||||||||||
9,370,613 | ||||||||||||||||||
|
|
|||||||||||||||||
Managed Care (0.3%) |
||||||||||||||||||
750 | HealthEquity, Inc., Rule 144A, Company Guaranteed Notes |
(B, B3) | 10/01/29 | 4.500 | 672,627 | |||||||||||||
|
|
|||||||||||||||||
Media - Diversified (0.1%) |
||||||||||||||||||
300 | News Corp., Rule 144A, Company Guaranteed Notes (Callable 02/15/27 @ 102.56)(1) |
(BB+, Ba1) | 02/15/32 | 5.125 | 274,770 | |||||||||||||
|
|
|||||||||||||||||
Media Content (0.6%) |
||||||||||||||||||
1,500 | Sirius XM Radio, Inc., Rule 144A, Company Guaranteed Notes |
(BB, Ba3) | 07/01/29 | 5.500 | 1,366,089 | |||||||||||||
|
|
|||||||||||||||||
Metals & Mining - Excluding Steel (5.3%) |
||||||||||||||||||
1,200 | Alcoa Nederland Holding BV, Rule 144A, Company Guaranteed Notes |
(BB+, Baa3) | 12/15/27 | 5.500 | 1,165,192 | |||||||||||||
375 | Canpack SA/Canpack U.S. LLC, Rule 144A, Company Guaranteed Notes |
(BB-, NR) | 11/15/29 | 3.875 | 301,712 | |||||||||||||
2,700 | ERO Copper Corp., Rule 144A, Company Guaranteed Notes |
(B, B1) | 02/15/30 | 6.500 | 2,379,335 | |||||||||||||
2,150 | First Quantum Minerals Ltd., Rule 144A, Company Guaranteed Notes |
(B+, NR) | 03/01/26 | 6.875 | 2,122,985 |
Credit Suisse High Yield Bond Fund
Schedule of Investments (continued)
July 31, 2023 (unaudited)
Par (000) |
Ratings |
Maturity | Rate% | Value | ||||||||||||||
CORPORATE BONDS (continued) |
||||||||||||||||||
Metals & Mining - Excluding Steel (continued) |
||||||||||||||||||
$ | 600 | First Quantum Minerals Ltd., Rule 144A, Company Guaranteed Notes |
(B+, NR) | 06/01/31 | 8.625 | $ | 615,000 | |||||||||||
600 | Kaiser Aluminum Corp., Rule 144A, Company Guaranteed Notes |
(BB-, B2) | 03/01/28 | 4.625 | 539,346 | |||||||||||||
900 | Kaiser Aluminum Corp., Rule 144A, Company Guaranteed Notes |
(BB-, B2) | 06/01/31 | 4.500 | 738,000 | |||||||||||||
182 | Novelis Corp., Rule 144A, Company Guaranteed Notes (Callable 01/30/25 @ 102.38)(1) |
(BB, Ba3) | 01/30/30 | 4.750 | 163,734 | |||||||||||||
1,692 | SunCoke Energy, Inc., Rule 144A, Senior Secured Notes (Callable 06/30/24 @ 102.44)(1) |
(BB, B1) | 06/30/29 | 4.875 | 1,459,422 | |||||||||||||
2,325 | Taseko Mines Ltd., Rule 144A, Senior Secured Notes (Callable 08/31/23 @ 103.50)(1) |
(B-, B3) | 02/15/26 | 7.000 | 2,145,462 | |||||||||||||
|
|
|||||||||||||||||
11,630,188 | ||||||||||||||||||
|
|
|||||||||||||||||
Non - Electric Utilities (0.3%) |
||||||||||||||||||
900 | Suburban Propane Partners LP/Suburban Energy Finance Corp., Rule 144A, Senior Unsecured Notes (Callable 06/01/26 @ 102.50)(1) |
(BB-, B1) | 06/01/31 | 5.000 | 771,641 | |||||||||||||
|
|
|||||||||||||||||
Packaging (3.9%) |
||||||||||||||||||
690 | Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, Rule 144A, Senior
Unsecured Notes |
(B+, Caa1) | 09/01/29 | 3.000 | 580,425 | |||||||||||||
600 | Ball Corp., Global Company Guaranteed Notes (Callable 11/15/24 @ 103.44) |
(BB+, Ba1) | 03/15/28 | 6.875 | 614,379 | |||||||||||||
600 | Ball Corp., Global Company Guaranteed Notes (Callable 05/15/26 @ 103.00) |
(BB+, Ba1) | 06/15/29 | 6.000 | 600,750 | |||||||||||||
622 | Chart Industries, Inc., Rule 144A, Senior Secured Notes (Callable 01/01/26 @ 103.75)(1) |
(B+, Ba3) | 01/01/30 | 7.500 | 635,930 | |||||||||||||
600 | Intelligent Packaging Ltd. Finco, Inc./Intelligent Packaging Ltd. Co-Issuer LLC, Rule 144A, Senior Secured Notes |
(B-, B3) | 09/15/28 | 6.000 | 532,458 | |||||||||||||
750 | Mauser Packaging Solutions Holding Co., Rule 144A, Senior Secured Notes |
(B, B2) | 08/15/26 | 7.875 | 746,428 | |||||||||||||
600 | Owens-Brockway Glass Container, Inc., Rule 144A, Company Guaranteed Notes |
(B+, B2) | 05/15/31 | 7.250 | 610,482 | |||||||||||||
1,500 | Trident TPI Holdings, Inc., Rule 144A, Company Guaranteed Notes |
(CCC+, Caa2) | 12/31/28 | 12.750 | 1,590,265 | |||||||||||||
3,060 | TriMas Corp., Rule 144A, Company Guaranteed Notes (Callable 04/15/24 @ 102.06)(1) |
(BB-, Ba3) | 04/15/29 | 4.125 | 2,712,839 | |||||||||||||
|
|
|||||||||||||||||
8,623,956 | ||||||||||||||||||
|
|
|||||||||||||||||
Personal & Household Products (0.9%) |
||||||||||||||||||
2,000 | CB High Ridge, Rule 144A, Company Guaranteed Notes (1),(4),(5),(6),(7) |
(NR, NR) | 03/15/25 | 0.000 | 25,000 | |||||||||||||
2,400 | MajorDrive Holdings IV LLC, Rule 144A, Senior Unsecured Notes |
(CCC+, Caa2) | 06/01/29 | 6.375 | 1,966,140 | |||||||||||||
|
|
|||||||||||||||||
1,991,140 | ||||||||||||||||||
|
|
|||||||||||||||||
Pharmaceuticals (0.9%) |
||||||||||||||||||
1,064 | Emergent BioSolutions, Inc., Rule 144A, Company Guaranteed Notes |
(B, Caa2) | 08/15/28 | 3.875 | 591,674 | |||||||||||||
1,500 | Syneos Health, Inc., Rule 144A, Company Guaranteed Notes |
(BB-, B1) | 01/15/29 | 3.625 | 1,486,364 | |||||||||||||
|
|
|||||||||||||||||
2,078,038 | ||||||||||||||||||
|
|
|||||||||||||||||
Real Estate Investment Trusts (1.5%) |
||||||||||||||||||
2,206 | Global Net Lease, Inc./Global Net Lease Operating Partnership LP, Rule 144A, Company Guaranteed
Notes |
(BBB-, WR) | 12/15/27 | 3.750 | 1,761,199 | |||||||||||||
600 | Starwood Property Trust, Inc., Rule 144A, Senior Unsecured Notes |
(BB-, Ba3) | 07/15/26 | 3.625 | 532,899 | |||||||||||||
1,200 | Starwood Property Trust, Inc., Rule 144A, Senior Unsecured Notes |
(BB-, Ba3) | 01/15/27 | 4.375 | 1,066,230 | |||||||||||||
|
|
|||||||||||||||||
3,360,328 | ||||||||||||||||||
|
|
Credit Suisse High Yield Bond Fund
Schedule of Investments (continued)
July 31, 2023 (unaudited)
Par (000) |
Ratings |
Maturity | Rate% | Value | ||||||||||||||
CORPORATE BONDS (continued) |
||||||||||||||||||
Recreation & Travel (4.8%) |
||||||||||||||||||
$ | 2,400 | Boyne USA, Inc., Rule 144A, Senior Unsecured Notes (Callable 05/15/24 @ 102.38)(1) |
(B, B1) | 05/15/29 | 4.750 | $ | 2,193,588 | |||||||||||
3,475 | SeaWorld Parks & Entertainment, Inc., Rule 144A, Company Guaranteed Notes |
(B, B2) | 08/15/29 | 5.250 | 3,130,628 | |||||||||||||
450 | SeaWorld Parks & Entertainment, Inc., Rule 144A, Senior Secured Notes |
(BB, Ba2) | 05/01/25 | 8.750 | 457,565 | |||||||||||||
2,238 | Six Flags Entertainment Corp., Rule 144A, Company Guaranteed Notes |
(B, B3) | 05/15/31 | 7.250 | 2,139,810 | |||||||||||||
2,835 | Speedway Motorsports LLC/Speedway Funding II, Inc., Rule 144A, Senior Unsecured Notes (Callable 08/31/23 @ 102.44)(1) |
(BB, B2) | 11/01/27 | 4.875 | 2,628,110 | |||||||||||||
|
|
|||||||||||||||||
10,549,701 | ||||||||||||||||||
|
|
|||||||||||||||||
Restaurants (0.2%) |
||||||||||||||||||
376 | Yum! Brands, Inc., Global Senior Unsecured Notes (Callable 04/01/27 @ 102.69) |
(BB, Ba3) | 04/01/32 | 5.375 | 356,242 | |||||||||||||
|
|
|||||||||||||||||
Software - Services (6.3%) |
||||||||||||||||||
2,550 | Elastic NV, Rule 144A, Senior Unsecured Notes (Callable 07/15/24 @ 102.06)(1) |
(B+, B1) | 07/15/29 | 4.125 | 2,214,697 | |||||||||||||
2,675 | Newfold Digital Holdings Group, Inc., Rule 144A, Senior Unsecured Notes |
(CCC+, Caa2) | 02/15/29 | 6.000 | 1,975,554 | |||||||||||||
945 | Open Text Corp., Rule 144A, Company Guaranteed Notes |
(BB-, Ba3) | 12/01/29 | 3.875 | 800,285 | |||||||||||||
1,200 | Open Text Corp., Rule 144A, Senior Secured Notes (Callable 11/01/27 @ 100.00)(1) |
(BBB-, Ba1) | 12/01/27 | 6.900 | 1,227,402 | |||||||||||||
1,250 | Open Text Holdings, Inc., Rule 144A, Company Guaranteed Notes |
(BB-, Ba3) | 12/01/31 | 4.125 | 1,037,397 | |||||||||||||
2,962 | Presidio Holdings, Inc., Rule 144A, Company Guaranteed Notes |
(CCC+, Caa1) | 02/01/28 | 8.250 | 2,876,006 | |||||||||||||
4,060 | Virtusa Corp., Rule 144A, Senior Unsecured Notes (Callable 12/15/23 @ 103.56)(1) |
(CCC+, Caa1) | 12/15/28 | 7.125 | 3,402,523 | |||||||||||||
300 | ZoomInfo Technologies LLC/ZoomInfo Finance Corp., Rule 144A, Company Guaranteed Notes (Callable 02/01/24 @ 101.94)(1) |
(B+, B1) | 02/01/29 | 3.875 | 258,142 | |||||||||||||
|
|
|||||||||||||||||
13,792,006 | ||||||||||||||||||
|
|
|||||||||||||||||
Specialty Retail (3.4%) |
||||||||||||||||||
61 | Asbury Automotive Group, Inc., Global Company Guaranteed Notes |
(BB, B1) | 03/01/28 | 4.500 | 55,880 | |||||||||||||
733 | Asbury Automotive Group, Inc., Global Company Guaranteed Notes |
(BB, B1) | 03/01/30 | 4.750 | 648,061 | |||||||||||||
300 | Asbury Automotive Group, Inc., Rule 144A, Company Guaranteed Notes |
(BB, B1) | 11/15/29 | 4.625 | 265,682 | |||||||||||||
300 | Asbury Automotive Group, Inc., Rule 144A, Company Guaranteed Notes |
(BB, B1) | 02/15/32 | 5.000 | 261,934 | |||||||||||||
77 | Eagle Intermediate Global Holding BV/Eagle U.S. Finance LLC, Rule 144A, Senior Secured Notes (Callable 08/14/23 @ 101.88)(1),(4),(7) |
(NR, NR) | 05/01/25 | 7.500 | 49,879 | |||||||||||||
2,800 | Eagle Intermediate Global Holding BV/Eagle U.S. Finance LLC, Rule 144A, Senior Secured Notes (Callable 08/14/23 @ 101.88)(1) |
(NR, Caa3) | 05/01/25 | 7.500 | 1,865,500 | |||||||||||||
102 | Eagle Intermediate Global Holding BV/Ruyi U.S. Finance LLC (4),(7) |
(NR, NR) | 05/01/25 | 0.000 | 54,008 | |||||||||||||
900 | Group 1 Automotive, Inc., Rule 144A, Company Guaranteed Notes |
(BB+, Ba2) | 08/15/28 | 4.000 | 797,865 | |||||||||||||
600 | LCM Investments Holdings II LLC, Rule 144A, Senior Unsecured Notes (Callable 05/01/24 @ 102.44)(1) |
(B+, B2) | 05/01/29 | 4.875 | 524,402 | |||||||||||||
300 | LCM Investments Holdings II LLC, Rule 144A, Senior Unsecured Notes |
(B+, B2) | 08/01/31 | 8.250 | 305,145 | |||||||||||||
600 | Murphy Oil USA, Inc., Rule 144A, Company Guaranteed Notes |
(BB+, Ba2) | 02/15/31 | 3.750 | 509,790 | |||||||||||||
900 | Sonic Automotive, Inc., Rule 144A, Company Guaranteed Notes |
(BB-, B1) | 11/15/29 | 4.625 | 772,638 | |||||||||||||
1,725 | Sonic Automotive, Inc., Rule 144A, Company Guaranteed Notes |
(BB-, B1) | 11/15/31 | 4.875 | 1,435,259 | |||||||||||||
|
|
|||||||||||||||||
7,546,043 | ||||||||||||||||||
|
|
|||||||||||||||||
Steel Producers/Products (1.1%) |
||||||||||||||||||
2,995 | TMS International Corp., Rule 144A, Senior Unsecured Notes |
(B, Caa1) | 04/15/29 | 6.250 | 2,508,342 | |||||||||||||
|
|
Credit Suisse High Yield Bond Fund
Schedule of Investments (continued)
July 31, 2023 (unaudited)
Par (000) |
Ratings |
Maturity | Rate% | Value | ||||||||||||||
CORPORATE BONDS (continued) |
||||||||||||||||||
Support - Services (8.6%) |
||||||||||||||||||
$ | 1,821 | Allied Universal Holdco LLC/Allied Universal Finance Corp., Rule 144A, Senior Unsecured
Notes |
(CCC+, Caa2) | 07/15/27 | 9.750 | $ | 1,672,100 | |||||||||||
1,950 | Allied Universal Holdco LLC/Allied Universal Finance Corp., Rule 144A, Senior Unsecured
Notes |
(CCC+, Caa2) | 06/01/29 | 6.000 | 1,489,745 | |||||||||||||
602 | Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, Rule 144A,
Senior Secured Notes |
(B, B3) | 06/01/28 | 4.625 | 511,131 | |||||||||||||
600 | ASGN, Inc., Rule 144A, Company Guaranteed Notes (Callable 08/31/23 @ 102.31)(1) |
(BB-, Ba3) | 05/15/28 | 4.625 | 550,728 | |||||||||||||
3,600 | CoreLogic, Inc., Rule 144A, Senior Secured Notes (Callable 05/01/24 @ 102.25)(1) |
(B-, B2) | 05/01/28 | 4.500 | 2,965,284 | |||||||||||||
3,365 | GEMS MENASA Cayman Ltd./GEMS Education Delaware LLC, Rule 144A, Senior Secured Notes (Callable 09/01/23 @ 101.78)(1) |
(B, B2) | 07/31/26 | 7.125 | 3,264,202 | |||||||||||||
1,375 | H&E Equipment Services, Inc., Rule 144A, Company Guaranteed Notes |
(BB-, B1) | 12/15/28 | 3.875 | 1,209,885 | |||||||||||||
500 | TriNet Group, Inc., Rule 144A, Company Guaranteed Notes |
(BB, Ba2) | 03/01/29 | 3.500 | 437,315 | |||||||||||||
900 | United Rentals North America, Inc., Rule 144A, Senior Secured Notes |
(BBB-, Baa3) | 12/15/29 | 6.000 | 899,907 | |||||||||||||
750 | WESCO Distribution, Inc., Rule 144A, Company Guaranteed Notes |
(BB, Ba3) | 06/15/25 | 7.125 | 759,297 | |||||||||||||
750 | WESCO Distribution, Inc., Rule 144A, Company Guaranteed Notes |
(BB, Ba3) | 06/15/28 | 7.250 | 765,341 | |||||||||||||
1,821 | White Cap Buyer LLC, Rule 144A, Senior Unsecured Notes |
(CCC+, Caa1) | 10/15/28 | 6.875 | 1,642,709 | |||||||||||||
865 | Williams Scotsman International, Inc., Rule 144A, Senior Secured Notes |
(BB-, B2) | 08/15/28 | 4.625 | 795,928 | |||||||||||||
2,250 | ZipRecruiter, Inc., Rule 144A, Senior Unsecured Notes (Callable 01/15/25 @ 102.50)(1) |
(BB-, B2) | 01/15/30 | 5.000 | 1,920,195 | |||||||||||||
|
|
|||||||||||||||||
18,883,767 | ||||||||||||||||||
|
|
|||||||||||||||||
Tech Hardware & Equipment (2.8%) |
||||||||||||||||||
510 | CommScope Technologies LLC, Rule 144A, Company Guaranteed Notes |
(CCC+, Caa1) | 03/15/27 | 5.000 | 340,760 | |||||||||||||
2,000 | Entegris Escrow Corp., Rule 144A, Senior Secured Notes (Callable 01/15/29 @ 100.00)(1) |
(BB, Baa3) | 04/15/29 | 4.750 | 1,867,698 | |||||||||||||
2,400 | Imola Merger Corp., Rule 144A, Senior Secured Notes (Callable 05/15/24 @ 102.38)(1) |
(BB-, B1) | 05/15/29 | 4.750 | 2,112,936 | |||||||||||||
1,980 | Vertiv Group Corp., Rule 144A, Senior Secured Notes (Callable 11/15/24 @ 102.06)(1) |
(BB-, B1) | 11/15/28 | 4.125 | 1,779,219 | |||||||||||||
|
|
|||||||||||||||||
6,100,613 | ||||||||||||||||||
|
|
|||||||||||||||||
Telecom - Wireline Integrated & Services (3.4%) |
||||||||||||||||||
2,785 | Altice France SA, Rule 144A, Senior Secured Notes (Callable 09/15/23 @ 102.56)(1) |
(B-, B2) | 01/15/29 | 5.125 | 1,943,851 | |||||||||||||
300 | Altice France SA, Rule 144A, Senior Secured Notes (Callable 04/15/24 @ 102.56)(1) |
(B-, B2) | 07/15/29 | 5.125 | 210,359 | |||||||||||||
300 | Altice France SA, Rule 144A, Senior Secured Notes (Callable 10/15/24 @ 102.75)(1) |
(B-, B2) | 10/15/29 | 5.500 | 213,380 | |||||||||||||
405 | Ciena Corp., Rule 144A, Company Guaranteed Notes (Callable 01/31/25 @ 102.00)(1) |
(BB, Ba1) | 01/31/30 | 4.000 | 354,780 | |||||||||||||
1,800 | LCPR Senior Secured Financing DAC, Rule 144A, Senior Secured Notes |
(B+, B1) | 10/15/27 | 6.750 | 1,685,323 | |||||||||||||
300 | LCPR Senior Secured Financing DAC, Rule 144A, Senior Secured Notes |
(B+, B1) | 07/15/29 | 5.125 | 248,409 | |||||||||||||
600 | Level 3 Financing, Inc., Rule 144A, Company Guaranteed Notes |
(B, B1) | 07/01/28 | 4.250 | 425,277 | |||||||||||||
900 | Level 3 Financing, Inc., Rule 144A, Company Guaranteed Notes |
(B, B1) | 01/15/29 | 3.625 | 594,692 | |||||||||||||
1,000 | Virgin Media Secured Finance PLC, Rule 144A, Senior Secured Notes |
(BB-, Ba3) | 04/15/27 | 5.000 | 1,178,888 | |||||||||||||
600 | Vmed O2 U.K. Financing I PLC, Rule 144A, Senior Secured Notes |
(BB-, Ba3) | 01/31/31 | 4.250 | 497,296 | |||||||||||||
|
|
|||||||||||||||||
7,352,255 | ||||||||||||||||||
|
|
Credit Suisse High Yield Bond Fund
Schedule of Investments (continued)
July 31, 2023 (unaudited)
Par (000) |
Ratings |
Maturity | Rate% | Value | ||||||||||||||
CORPORATE BONDS (continued) |
||||||||||||||||||
Theaters & Entertainment (2.1%) |
||||||||||||||||||
$ | 2,374 | AMC Entertainment Holdings, Inc.,10.00% Cash, 12.00% PIK, Rule 144A, Secured Notes |
(CCC-, Caa3) | 06/15/26 | 10.000 | $ | 1,638,806 | |||||||||||
2,200 | Live Nation Entertainment, Inc., Rule 144A, Company Guaranteed Notes |
(B+, B2) | 11/01/24 | 4.875 | 2,169,020 | |||||||||||||
400 | Live Nation Entertainment, Inc., Rule 144A, Company Guaranteed Notes |
(B+, B2) | 03/15/26 | 5.625 | 390,075 | |||||||||||||
500 | Live Nation Entertainment, Inc., Rule 144A, Company Guaranteed Notes |
(B+, B2) | 10/15/27 | 4.750 | 464,710 | |||||||||||||
|
|
|||||||||||||||||
4,662,611 | ||||||||||||||||||
|
|
|||||||||||||||||
Transport Infrastructure/Services (1.6%) |
||||||||||||||||||
2,100 | XPO Escrow Sub LLC, Rule 144A, Company Guaranteed Notes |
(BB+, Baa3) | 11/15/27 | 7.500 | 2,172,880 | |||||||||||||
300 | XPO, Inc., Rule 144A, Company Guaranteed Notes |
(BB-, Ba3) | 06/01/31 | 7.125 | 303,842 | |||||||||||||
955 | XPO, Inc., Rule 144A, Senior Secured Notes |
(BBB-, Ba1) | 06/01/28 | 6.250 | 947,341 | |||||||||||||
|
|
|||||||||||||||||
3,424,063 | ||||||||||||||||||
|
|
|||||||||||||||||
TOTAL CORPORATE BONDS (Cost $226,813,618) |
210,288,155 | |||||||||||||||||
|
|
|||||||||||||||||
BANK LOANS (28.0%) |
||||||||||||||||||
Advertising (0.4%) |
||||||||||||||||||
45 | MH Sub I LLC (1st Lien Term Loan), 1 mo. USD Term SOFR + 3.750%(10) |
(B, B1) | 09/13/24 | 9.183 | 45,197 | |||||||||||||
810 | MH Sub I LLC (Incremental Term Loan), 1 mo. USD Term SOFR + 3.750%(10) |
(B, B1) | 09/13/24 | 9.183 | 811,175 | |||||||||||||
|
|
|||||||||||||||||
856,372 | ||||||||||||||||||
|
|
|||||||||||||||||
Aerospace & Defense (1.3%) |
||||||||||||||||||
1,500 | Amentum Government Services Holdings LLC, 1 mo. USD Term SOFR + 8.750%(10) |
(NR, NR) | 01/31/28 | 14.183 | 1,361,250 | |||||||||||||
396 | Amentum Government Services Holdings LLC, 1 mo. USD Term SOFR + 4.000%(10) |
(B, B2) | 02/15/29 | 9.222 | 384,120 | |||||||||||||
1,214 | Peraton Corp., 3 mo. USD Term SOFR + 7.750%(10) |
(NR, NR) | 02/01/29 | 12.979 | 1,186,583 | |||||||||||||
|
|
|||||||||||||||||
2,931,953 | ||||||||||||||||||
|
|
|||||||||||||||||
Auto Parts & Equipment (0.2%) |
||||||||||||||||||
503 | Jason Group, Inc., 1 mo. USD LIBOR + 6.000%, 0.000% PIK(9),(10) |
(NR, WR) | 08/28/25 | 11.433 | 429,664 | |||||||||||||
|
|
|||||||||||||||||
Building Materials (0.4%) |
||||||||||||||||||
798 | Cornerstone Building Brands, Inc., 1 mo. USD Term SOFR + 5.625%(10) |
(B, B2) | 08/01/28 | 10.847 | 784,254 | |||||||||||||
|
|
|||||||||||||||||
Chemicals (1.3%) |
||||||||||||||||||
521 | Ascend Performance Materials Operations LLC, 3 mo. USD Term SOFR + 4.750%(10) |
(B+, Ba3) | 08/27/26 | 9.715 | 505,376 | |||||||||||||
1,080 | Luxembourg Investment Co. 428 Sarl, 3 mo. USD Term SOFR + 5.000%(10) |
(B-, B3) | 01/03/29 | 10.392 | 800,890 | |||||||||||||
841 | Polar U.S. Borrower LLC, 3 mo. USD Term SOFR + 4.750%(10) |
(CCC+, B3) | 10/15/25 | 9.721 - 10.151 | 654,182 | |||||||||||||
878 | Zep, Inc., 3 mo. USD LIBOR + 4.000%(10) |
(CCC+, B3) | 08/12/24 | 9.538 | 787,766 | |||||||||||||
|
|
|||||||||||||||||
2,748,214 | ||||||||||||||||||
|
|
|||||||||||||||||
Diversified Capital Goods (1.0%) |
||||||||||||||||||
895 | Dynacast International LLC, 3 mo. USD Term SOFR + 9.000%(10) |
(CCC, Caa2) | 10/22/25 | 14.325 | 689,473 | |||||||||||||
1,492 | Electrical Components International, Inc., U.S. (Fed) Prime Rate + 7.500%(4),(10) |
(B-, B2) | 06/26/25 | 16.000 | 1,398,809 | |||||||||||||
|
|
|||||||||||||||||
2,088,282 | ||||||||||||||||||
|
|
|||||||||||||||||
Electronics (1.1%) |
||||||||||||||||||
2,373 | Idemia Group, 3 mo. USD Term SOFR + 4.750%(10) |
(B, B2) | 09/30/28 | 10.057 | 2,374,919 | |||||||||||||
|
|
|||||||||||||||||
Energy - Exploration & Production (0.0%) |
||||||||||||||||||
2,704 | PES Holdings LLC, 3.000% PIK(6),(9),(10) |
(NR, WR) | 12/31/24 | 3.000 | 54,071 | |||||||||||||
|
|
|||||||||||||||||
Credit Suisse High Yield Bond Fund
Schedule of Investments (continued)
July 31, 2023 (unaudited)
Par (000) |
Ratings |
Maturity | Rate% | Value | ||||||||||||||
BANK LOANS (continued) |
||||||||||||||||||
Food & Drug Retailers (0.6%) |
||||||||||||||||||
$ | 1,500 | WOOF Holdings, Inc., 3 mo. USD LIBOR + 7.250%(4),(10) |
(CCC, Caa2) | 12/21/28 | 12.686 | $ | 1,245,000 | |||||||||||
|
|
|||||||||||||||||
Gas Distribution (1.2%) |
||||||||||||||||||
1,066 | BCP Renaissance Parent LLC, 3 mo. USD Term SOFR + 3.500%(10) |
(B+, B2) | 10/31/26 | 8.742 | 1,066,262 | |||||||||||||
1,557 | Traverse Midstream Partners LLC, 3 mo. USD Term SOFR + 3.750%(10) |
(B+, B2) | 02/16/28 | 9.216 | 1,553,094 | |||||||||||||
|
|
|||||||||||||||||
2,619,356 | ||||||||||||||||||
|
|
|||||||||||||||||
Health Facility (0.3%) |
||||||||||||||||||
799 | Carestream Health, Inc., 3 mo. USD Term SOFR + |
(B-, Caa1) | 09/30/27 | 12.842 | 602,422 | |||||||||||||
|
|
|||||||||||||||||
Health Services (0.8%) |
||||||||||||||||||
1,230 | MedAssets Software Intermediate Holdings, Inc., 1 mo. USD Term SOFR + 6.750%(10) |
(CCC-, Caa3) | 12/17/29 | 12.569 | 738,769 | |||||||||||||
1,169 | U.S. Radiology Specialists, Inc., 1 mo. USD Term SOFR + 5.250%(10) |
(B-, B3) | 12/15/27 | 10.669 | 1,121,956 | |||||||||||||
|
|
|||||||||||||||||
1,860,725 | ||||||||||||||||||
|
|
|||||||||||||||||
Hotels (0.6%) |
||||||||||||||||||
1,351 | Aimbridge Acquisition Co., Inc., 1 mo. USD Term SOFR + 4.750%(10) |
(CCC+, B3) | 02/02/26 | 10.170 | 1,319,894 | |||||||||||||
|
|
|||||||||||||||||
Investments & Misc. Financial Services (1.5%) |
||||||||||||||||||
2,329 | AqGen Ascensus, Inc., 3 mo. USD Term SOFR + |
(CCC, Caa2) | 08/02/29 | 12.030 | 2,166,379 | |||||||||||||
1,298 | Deerfield Dakota Holding LLC, 3 mo. USD LIBOR + 6.750%(10) |
(CCC, Caa2) | 04/07/28 | 12.288 | 1,220,192 | |||||||||||||
115 | Ditech Holding Corp.(4),(5),(6),(7) |
(NR, WR) | 06/30/22 | 0.000 | 6,902 | |||||||||||||
|
|
|||||||||||||||||
3,393,473 | ||||||||||||||||||
|
|
|||||||||||||||||
Machinery (1.1%) |
||||||||||||||||||
2,123 | LTI Holdings, Inc., 1 mo. USD Term SOFR + |
(CCC+, Caa2) | 09/06/26 | 12.183 | 1,868,177 | |||||||||||||
577 | LTI Holdings, Inc., 1 mo. USD Term SOFR + 3.500%(10) |
(B-, B2) | 09/06/25 | 8.933 | 557,611 | |||||||||||||
|
|
|||||||||||||||||
2,425,788 | ||||||||||||||||||
|
|
|||||||||||||||||
Media - Diversified (0.4%) |
||||||||||||||||||
314 | Technicolor Creative Studios, 3 mo. EUR EURIBOR + 5.000%(3),(4),(10) |
(NR, NR) | 06/05/30 | 8.476 | | |||||||||||||
149 | Technicolor Creative Studios, 6 mo. EUR EURIBOR + 0.500%(3),(10) |
(NR, NR) | 07/31/26 | 15.335 | 162,112 | |||||||||||||
139 | Technicolor Creative Studios, 6 mo. EUR EURIBOR + 0.500%(3),(10) |
(NR, NR) | 07/31/26 | 4.472 | 151,661 | |||||||||||||
776 | Technicolor Creative Studios, 3 mo. EUR EURIBOR + 0.500%(3),(4),(10) |
(NR, NR) | 06/08/33 | 4.047 | 497,403 | |||||||||||||
|
|
|||||||||||||||||
811,176 | ||||||||||||||||||
|
|
|||||||||||||||||
Medical Products (1.4%) |
||||||||||||||||||
937 | Femur Buyer, Inc., 3 mo. USD Term SOFR + 5.500%(4),(10) |
(CCC+, NR) | 08/05/25 | 11.003 | 845,759 | |||||||||||||
1,350 | Viant Medical Holdings, Inc., 1 mo. USD LIBOR + 7.750%(10),(11) |
(CCC-, Caa3) | 07/02/26 | 13.183 | 1,217,538 | |||||||||||||
975 | Viant Medical Holdings, Inc., 1 mo. USD LIBOR + 6.250%(4),(10) |
(CCC+, B3) | 07/02/25 | 11.683 | 969,810 | |||||||||||||
|
|
|||||||||||||||||
3,033,107 | ||||||||||||||||||
|
|
|||||||||||||||||
Personal & Household Products (1.4%) |
||||||||||||||||||
1,200 | ABG Intermediate Holdings 2 LLC, 1 mo. USD Term SOFR + 6.000%(10) |
(CCC+, Caa1) | 12/20/29 | 11.419 | 1,178,250 | |||||||||||||
1,988 | Serta Simmons Bedding LLC, 3 mo. USD Term SOFR + 7.500%(10) |
(NR, NR) | 06/22/28 | 12.739 | 1,997,318 | |||||||||||||
|
|
|||||||||||||||||
3,175,568 | ||||||||||||||||||
|
|
|||||||||||||||||
Recreation & Travel (2.0%) |
||||||||||||||||||
959 | Bulldog Purchaser, Inc., 1 mo. USD Term SOFR + |
(CCC-, Caa3) | 09/04/26 | 13.169 | 773,793 | |||||||||||||
1,807 | Bulldog Purchaser, Inc., 1 mo. USD Term SOFR + |
(B-, B3) | 09/05/25 | 9.169 | 1,731,433 | |||||||||||||
785 | Hornblower Sub LLC, 3 mo. USD LIBOR + 4.500%(10) |
(CCC-, Caa2) | 04/27/25 | 10.481 | 406,723 | |||||||||||||
1,082 | Hornblower Sub LLC, 3 mo. USD LIBOR + 8.125%(10) |
(NR, NR) | 11/10/25 | 13.446 | 1,083,833 | |||||||||||||
300 | Hornblower Sub LLC, 3 mo. USD LIBOR + 8.125%(10) |
(NR, NR) | 11/20/25 | 13.446 | 300,376 | |||||||||||||
|
|
|||||||||||||||||
4,296,158 | ||||||||||||||||||
|
|
|||||||||||||||||
Restaurants (0.1%) |
||||||||||||||||||
300 | Tacala LLC, 1 mo. USD Term SOFR + 7.500%(10) |
(CCC, Caa2) | 02/04/28 | 12.933 | 286,749 | |||||||||||||
|
|
|||||||||||||||||
Software - Services (8.0%) |
||||||||||||||||||
1,700 | Aston FinCo Sarl, 1 mo. USD Term SOFR + 4.250%(4),(10) |
(B-, B3) | 10/09/26 | 9.569 | 1,487,881 | |||||||||||||
893 | Astra Acquisition Corp., 1 mo. USD Term SOFR |
(B-, B1) | 10/25/28 | 10.683 | 675,708 | |||||||||||||
900 | CommerceHub, Inc., 3 mo. USD Term SOFR + 7.000%(10) |
(CCC, Caa2) | 12/29/28 | 12.217 | 705,601 | |||||||||||||
1,810 | Epicor Software Corp., 1 mo. USD Term SOFR + |
(CCC, Caa2) | 07/31/28 | 13.169 | 1,822,444 |
Credit Suisse High Yield Bond Fund
Schedule of Investments (continued)
July 31, 2023 (unaudited)
Par (000) |
Ratings |
Maturity | Rate% | Value | ||||||||||||||
BANK LOANS (continued) |
||||||||||||||||||
Software - Services (continued) |
||||||||||||||||||
$ | 678 | Finastra USA, Inc., 3 mo. USD LIBOR + 3.500%, 6 mo. USD LIBOR + 3.500%(10) |
(CCC+, B3) | 06/13/24 | 9.038 - 9.231 | $ | 659,136 | |||||||||||
3,011 | Finastra USA, Inc., 6 mo. USD LIBOR + 7.250%(10) |
(CCC-, Caa3) | 06/13/25 | 12.981 | 2,764,019 | |||||||||||||
748 | Genuine Financial Holdings LLC, 1 mo. USD LIBOR + 3.750%(10) |
(B, B2) | 07/11/25 | 9.183 | 747,987 | |||||||||||||
2,885 | Hyland Software, Inc., 1 mo. USD Term SOFR + 3.500%(10) |
(B-, B2) | 07/01/24 | 8.933 | 2,879,958 | |||||||||||||
420 | Hyland Software, Inc., 1 mo. USD Term SOFR + 6.250%(10) |
(CCC, Caa2) | 07/07/25 | 11.683 | 417,900 | |||||||||||||
1,570 | Open Text Corp., 1 mo. USD Term SOFR
+ |
(BBB-, Ba1) | 01/31/30 | 8.919 | 1,574,466 | |||||||||||||
1,787 | Project Alpha Intermediate Holding, Inc., 1 mo. USD Term SOFR + 4.000%(10) |
(B-, B3) | 04/26/24 | 9.319 | 1,788,136 | |||||||||||||
1,487 | Quest Software U.S. Holdings, Inc., 3 mo. USD Term SOFR + 4.250%(10) |
(CCC+, B2) | 02/01/29 | 9.769 | 1,215,769 | |||||||||||||
200 | Redstone Holdco 2 LP, 1 mo. USD LIBOR + 7.750%(10) |
(CCC, Caa3) | 04/27/29 | 13.180 | 126,571 | |||||||||||||
833 | Redstone Holdco 2 LP, 1 mo. USD Term SOFR + 4.750%(10) |
(B-, B3) | 04/27/28 | 10.162 | 642,484 | |||||||||||||
|
|
|||||||||||||||||
17,508,060 | ||||||||||||||||||
|
|
|||||||||||||||||
Support - Services (0.8%) |
||||||||||||||||||
600 | LaserShip, Inc., 2 mo. USD Term SOFR
+ |
(CCC-, Caa3) | 05/07/29 | 13.131 | 471,000 | |||||||||||||
1,193 | LaserShip, Inc., 2 mo. USD Term SOFR
+ |
(CCC+, B3) | 05/07/28 | 10.131 | 1,027,320 | |||||||||||||
600 | TruGreen Ltd. Partnership, 3 mo. USD LIBOR + 8.500%(10) |
(CCC, Caa3) | 11/02/28 | 14.131 | 368,502 | |||||||||||||
|
|
|||||||||||||||||
1,866,822 | ||||||||||||||||||
|
|
|||||||||||||||||
Telecom - Wireline Integrated & Services (1.2%) |
||||||||||||||||||
1,945 | Patagonia Holdco LLC, 3 mo. USD Term SOFR + 5.750%(10) |
(NR, B1) | 08/01/29 | 10.789 | 1,681,046 | |||||||||||||
1,125 | TVC Albany, Inc., 1 mo. USD Term SOFR
+ |
(CCC, Caa2) | 07/23/26 | 12.933 | 1,051,875 | |||||||||||||
|
|
|||||||||||||||||
2,732,921 | ||||||||||||||||||
|
|
|||||||||||||||||
Theaters & Entertainment (0.9%) |
||||||||||||||||||
1,925 | William Morris Endeavor Entertainment LLC, 1 mo. USD Term SOFR + 2.750%(10) |
(B+, B3) | 05/18/25 | 8.183 | 1,924,886 | |||||||||||||
|
|
|||||||||||||||||
TOTAL BANK LOANS (Cost $67,073,700) |
61,369,834 | |||||||||||||||||
|
|
|||||||||||||||||
ASSET BACKED SECURITIES (7.7%) |
||||||||||||||||||
Collateralized Debt Obligations (7.7%) |
||||||||||||||||||
1,000 | Anchorage Capital CLO 15 Ltd., 2020-15A,
Rule 144A, 3 mo. USD Term SOFR + |
(NR, Ba3) | 07/20/34 | 12.988 | 918,806 | |||||||||||||
1,500 | Anchorage Capital CLO 25 Ltd., 2022-25A,
Rule 144A, 3 mo. USD Term SOFR + |
(NR, Ba3) | 04/20/35 | 12.496 | 1,386,818 | |||||||||||||
1,250 | Anchorage Credit Funding 4 Ltd., 2016-4A, Rule 144A (1) |
(NR, Ba3) | 04/27/39 | 6.659 | 996,333 | |||||||||||||
1,250 | Battalion CLO 18 Ltd., 2020-18A, Rule 144A, 3 mo. USD Term SOFR + 6.972% (1),(10) |
(BB-, NR) | 10/15/36 | 12.280 | 1,065,008 | |||||||||||||
1,250 | Benefit Street Partners CLO X Ltd., 2016-10A,
Rule 144A, 3 mo. USD Term SOFR + |
(BB-, NR) | 04/20/34 | 12.338 | 1,157,734 | |||||||||||||
1,500 | Cedar Funding VI CLO Ltd., 2016-6A, Rule 144A, 3
mo. USD Term SOFR + |
(BB-, NR) | 04/20/34 | 12.308 | 1,357,817 | |||||||||||||
1,500 | CIFC Funding Ltd., 2017-1A, Rule 144A, 3 mo. USD Term SOFR + 3.762% (1),(10) |
(NR, Baa2) | 04/23/29 | 9.095 | 1,519,546 | |||||||||||||
1,500 | KKR CLO 14 Ltd., Rule 144A, 3 mo. USD Term SOFR + 6.412% (1),(10) |
(NR, B1) | 07/15/31 | 11.720 | 1,364,689 | |||||||||||||
1,500 | KKR CLO 16 Ltd., Rule 144A, 3 mo. USD Term SOFR + 7.372% (1),(10) |
(BB-, NR) | 10/20/34 | 12.698 | 1,355,051 | |||||||||||||
1,500 | Marble Point CLO XXIII Ltd., 2021-4A, Rule 144A, 3 mo. USD LIBOR + 5.750% (1),(10) |
(NR, Ba1) | 01/22/35 | 11.357 | 1,373,729 | |||||||||||||
600 | MP CLO III Ltd., 2013-1A, Rule 144A, 3 mo. USD Term SOFR + 3.312% (1),(10) |
(NR, Ba1) | 10/20/30 | 8.638 | 530,341 | |||||||||||||
1,000 | Oaktree CLO Ltd., 2019-4A, Rule 144A, 3 mo. USD Term SOFR + 7.492% (1),(10) |
(BB-, NR) | 10/20/32 | 12.818 | 941,788 | |||||||||||||
1,500 | Palmer Square Credit Funding Ltd., 2019-1A, Rule 144A (1) |
(NR, Baa2) | 04/20/37 | 5.459 | 1,340,921 | |||||||||||||
1,000 | Venture 41 CLO Ltd., 2021-41A, Rule 144A, 3 mo. USD Term SOFR + 7.972% (1),(10) |
(BB-, NR) | 01/20/34 | 13.298 | 925,065 | |||||||||||||
600 | Vibrant CLO VII Ltd., 2017-7A, Rule 144A, 3 mo. USD Term SOFR + 3.862% (1),(10) |
(NR, Baa3) | 09/15/30 | 9.188 | 546,171 | |||||||||||||
|
|
|||||||||||||||||
TOTAL ASSET BACKED SECURITIES (Cost $18,047,690) |
16,779,817 | |||||||||||||||||
|
|
Credit Suisse High Yield Bond Fund
Schedule of Investments (continued)
July 31, 2023 (unaudited)
Shares | Value | |||||||||||||||||||
COMMON STOCKS (1.1%) |
||||||||||||||||||||
Auto Parts & Equipment (0.3%) |
||||||||||||||||||||
56,742 | Jason, Inc.(5) |
$ | 680,905 | |||||||||||||||||
|
|
|||||||||||||||||||
Chemicals (0.5%) |
||||||||||||||||||||
5,400 | Project Investor Holdings LLC(4),(5),(7),(11) |
54 | ||||||||||||||||||
89,998 | Proppants Holdings LLC(4),(5),(7),(11) |
1,800 | ||||||||||||||||||
15,074 | UTEX Industries, Inc.(5) |
974,790 | ||||||||||||||||||
|
|
|||||||||||||||||||
976,644 | ||||||||||||||||||||
|
|
|||||||||||||||||||
Energy - Exploration & Production (0.0%) |
||||||||||||||||||||
111,570 | PES Energy, Class A(4),(5),(7),(11) |
1,116 | ||||||||||||||||||
|
|
|||||||||||||||||||
Personal & Household Products (0.2%) |
||||||||||||||||||||
32,039 | Serta Simmons Common(5) |
469,371 | ||||||||||||||||||
|
|
|||||||||||||||||||
Pharmaceuticals (0.0%) |
||||||||||||||||||||
68,836 | Akorn, Inc.(4),(5) |
18,930 | ||||||||||||||||||
|
|
|||||||||||||||||||
Private Placement (0.1%) |
||||||||||||||||||||
41,583 | Technicolor Creative Studios SA(5),(12) |
118,974 | ||||||||||||||||||
|
|
|||||||||||||||||||
Specialty Retail (0.0%) |
||||||||||||||||||||
105 | Eagle Investments Holding Co. LLC, Class B(4),(5),(7) |
1 | ||||||||||||||||||
|
|
|||||||||||||||||||
Support - Services (0.0%) |
||||||||||||||||||||
2,100 | LTR Holdings, Inc.(4),(5),(7),(11) |
3,111 | ||||||||||||||||||
|
|
|||||||||||||||||||
Theaters & Entertainment (0.0%) |
||||||||||||||||||||
461,538 | Vantiva SA(3),(5) |
97,537 | ||||||||||||||||||
|
|
|||||||||||||||||||
TOTAL COMMON STOCKS (Cost $6,077,684) |
2,366,589 | |||||||||||||||||||
|
|
|||||||||||||||||||
WARRANTS (0.0%) |
||||||||||||||||||||
Chemicals (0.0%) |
||||||||||||||||||||
22,499 | Project Investor Holdings LLC, expires 02/20/2022(4),(5),(7),(11) |
| ||||||||||||||||||
|
|
|||||||||||||||||||
Private Placement (0.0%) |
||||||||||||||||||||
1,202,670 | Technicolor Creative Studios SA(5),(12) |
33,853 | ||||||||||||||||||
|
|
|||||||||||||||||||
TOTAL WARRANTS (Cost $11,700) |
33,853 | |||||||||||||||||||
|
|
|||||||||||||||||||
SHORT-TERM INVESTMENTS (7.2%) |
||||||||||||||||||||
3,253,110 | State Street Institutional U.S. Government Money Market Fund - Premier Class, 5.26% |
3,253,110 | ||||||||||||||||||
12,562,330 | State Street Navigator Securities Lending Government Money Market Portfolio, 5.34%(13) |
12,562,330 | ||||||||||||||||||
|
|
|||||||||||||||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $15,815,440) |
15,815,440 | |||||||||||||||||||
|
|
|||||||||||||||||||
TOTAL INVESTMENTS AT VALUE (139.9%) (Cost $333,839,832) |
306,653,688 | |||||||||||||||||||
LIABILITIES IN EXCESS OF OTHER ASSETS (-39.9%) |
(87,406,498 | ) | ||||||||||||||||||
|
|
|||||||||||||||||||
NET ASSETS (100.0%) |
$ | 219,247,190 | ||||||||||||||||||
|
|
| Credit ratings given by the S&P Global Ratings Division of S&P Global Inc. (S&P) and Moodys Investors Service, Inc. (Moodys) are unaudited. |
(1) | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At July 31, 2023, these securities amounted to a value of $221,413,881 or 101.0% of net assets. |
(2) | Security or portion thereof is out on loan. |
(3) | This security is denominated in Euro. |
(4) | Security is valued using significant unobservable inputs. |
(5) | Non-income producing security. |
(6) | Bond is currently in default. |
(7) | Not readily marketable security; security is valued at fair value as determined in good faith by Credit Suisse Asset Management, LLC as the Funds valuation designee under the oversight of the Board of Trustees. |
(8) | This security is denominated in British Pound. |
(9) | PIK: Payment-in-kind security for which part of the income earned may be paid as additional principal. |
(10) | Variable rate obligation The interest rate shown is the rate in effect as of July 31, 2023. The rate may be subject to a cap and floor. |
(11) | Illiquid security. |
(12) | Security is held through holdings of 100 shares of the CIG Special Purpose SPC - Credit Suisse High Yield Bond Fund Segregated Portfolio, an affiliated entity. |
(13) | Represents security purchased with cash collateral received for securities on loan. |
Investment Abbreviations
1 mo. = 1 month
2 mo. = 2 month
3 mo. = 3 month
6 mo. = 6 month
EURIBOR = Euro Interbank Offered Rate
LIBOR = London Interbank Offered Rate
NR = Not Rated
Sarl = société à responsabilité limitée
SOFR = Secured Overnight Financing Rate
WR = Withdrawn Rating
Forward Foreign Currency Contracts
Forward |
Forward |
Expiration |
Counterparty |
Value on Settlement Date |
Current Value/Notional |
Unrealized Appreciation |
||||||||||||||||||||
EUR |
710,608 | USD |
755,626 | 10/11/23 | Barclays Bank PLC | $ | 755,626 | $ | 786,168 | $ | 30,542 | |||||||||||||||
EUR |
606,440 | USD |
642,025 | 10/11/23 | Deutsche Bank AG | 642,025 | 670,923 | 28,898 | ||||||||||||||||||
EUR |
109,046 | USD |
120,239 | 10/11/23 | Deutsche Bank AG | 120,239 | 120,641 | 402 | ||||||||||||||||||
EUR |
60,385 | USD |
66,217 | 10/11/23 | JPMorgan Chase | 66,217 | 66,806 | 589 | ||||||||||||||||||
EUR |
69,881 | USD |
77,255 | 10/11/23 | JPMorgan Chase | 77,255 | 77,311 | 56 | ||||||||||||||||||
EUR |
768,633 | USD |
805,710 | 10/11/23 | Morgan Stanley | 805,710 | 850,363 | 44,653 | ||||||||||||||||||
GBP |
25,000 | USD |
31,517 | 10/11/23 | Barclays Bank PLC | 31,517 | 32,174 | 657 | ||||||||||||||||||
GBP |
50,783 | USD |
59,453 | 10/11/23 | Deutsche Bank AG | 59,453 | 65,356 | 5,903 | ||||||||||||||||||
GBP |
6,553 | USD |
7,634 | 10/11/23 | Morgan Stanley | 7,634 | 8,434 | 800 | ||||||||||||||||||
|
|
|||||||||||||||||||||||||
Total Unrealized Appreciation |
|
$ | 112,500 | |||||||||||||||||||||||
|
|
Forward Foreign Currency Contracts
Forward |
Forward |
Expiration |
Counterparty |
Value on Settlement Date |
Current Value/Notional |
Unrealized Depreciation |
||||||||||||||||||||
USD |
4,353,530 | EUR |
4,288,402 | 10/11/23 | Deutsche Bank AG | $ | (4,353,530 | ) | $ | (4,744,393 | ) | $ | (390,863 | ) | ||||||||||||
USD |
66,853 | EUR |
60,542 | 10/11/23 | JPMorgan Chase | (66,853 | ) | (66,979 | ) | (126 | ) | |||||||||||||||
USD |
28,601 | GBP |
23,307 | 10/11/23 | Barclays Bank PLC | (28,601 | ) | (29,995 | ) | (1,394 | ) | |||||||||||||||
USD |
1,102,066 | GBP |
983,871 | 10/11/23 | Deutsche Bank AG | (1,102,066 | ) | (1,266,187 | ) | (164,121 | ) | |||||||||||||||
|
|
|||||||||||||||||||||||||
Total Unrealized Depreciation |
|
$ | (556,504 | ) | ||||||||||||||||||||||
|
|
|||||||||||||||||||||||||
Total Net Unrealized Appreciation/(Depreciation) |
|
$ | (444,004 | ) | ||||||||||||||||||||||
|
|
Currency Abbreviations:
EUR = Euro
GBP = British Pound
USD = United States Dollar
SECURITY VALUATION The Board of Trustees (the Board) is responsible for the Funds valuation process. The Board has delegated the supervision of the daily valuation process to Credit Suisse Asset Management, LLC, the Funds investment adviser (Credit Suisse or the Adviser), who has established a Pricing Committee and a Pricing Group, which, pursuant to the policies adopted by the Board, are responsible for making fair valuation determinations and overseeing the Funds pricing policies. The net asset value of the Fund is determined daily as of the close of regular trading on the New York Stock Exchange, Inc. (the Exchange) on each day the Exchange is open for business. The valuations for fixed income securities (which may include, but are not limited to, corporate, government, municipal, mortgage-backed, collateralized mortgage obligations and asset-backed securities) and certain derivative instruments are typically the prices supplied by independent third party pricing services, which may use market prices or broker/dealer quotations or a variety of valuation techniques and methodologies. The independent third party pricing services use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar securities. These pricing services generally price fixed income securities assuming orderly transactions of an institutional round lot size, but some trades occur in smaller odd lot sizes which may be effected at lower prices than institutional round lot trades. Structured note agreements are valued in accordance with a dealer-supplied valuation based on changes in the value of the underlying index. Futures contracts are valued daily at the settlement price established by the board of trade or exchange on which they are traded. Forward contracts are valued at the London closing spot rates and the London closing forward point rates on a daily basis. The currency forward contract pricing model derives the differential in point rates to the expiration date of the forward and calculates its present value. Equity securities for which market quotations are available are valued at the last reported sales price or official closing price on the primary market or exchange on which they trade. Investments in open-ended mutual funds are valued at the net asset value as reported on each business day and under normal circumstances. Securities for which market quotations are not readily available are valued at their fair value as determined in good faith by the Adviser, as the Boards valuation designee (as defined in Rule 2a-5 under the 1940 Act), in accordance with the Advisers procedures. The Board oversees the Adviser in its role as valuation designee in accordance with the requirements of Rule 2a-5 under the 1940 Act. The Fund may utilize a service provided by an independent third party to fair value certain securities. When fair value pricing is employed, the prices of securities used by the Fund to calculate its net asset value may differ from quoted or published prices for the same securities. If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the Adviser to be unreliable, the market price may be determined by the Adviser using quotations from one or more brokers/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the Fund calculates its net asset value, these securities will be fair valued in good faith by the Pricing Group, in accordance with procedures established by the Adviser.
The Fund uses valuation techniques to measure fair value that are consistent with the market approach and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable securities. The income approach uses valuation techniques to discount estimated future cash flows to present value.
Generally accepted accounting principles in the United States of America (GAAP) established a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at each measurement date. These inputs are summarized in the three broad levels listed below:
Level 1quoted prices in active markets for identical investments |
Level 2other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.) |
Level 3significant unobservable inputs (including the Funds own assumptions in determining the fair value of investments) |
The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
The following is a summary of the inputs used as of July 31, 2023 in valuing the Funds assets and liabilities carried at fair value:
Assets |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Investments in Securities |
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Corporate Bonds |
$ | | $ | 210,159,268 | $ | 128,887 | $ | 210,288,155 | ||||||||
Bank Loans |
| 54,447,270 | 6,922,564 | 61,369,834 | ||||||||||||
Asset Backed Securities |
| 16,779,817 | | 16,779,817 | ||||||||||||
Common Stocks |
588,345 | 1,753,232 | 25,012 | 2,366,589 | ||||||||||||
Warrants |
33,853 | | 0 | 1 | 33,853 | |||||||||||
Short-term Investments |
15,815,440 | | | 15,815,440 | ||||||||||||
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$ | 16,437,638 | $ | 283,139,587 | $ | 7,076,463 | $ | 306,653,688 | |||||||||
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Other Financial Instruments* |
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Forward Foreign Currency Contracts |
$ | | $ | 112,500 | $ | | $ | 112,500 | ||||||||
Liabilities |
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Other Financial Instruments* |
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Forward Foreign Currency Contracts |
$ | | $ | 556,504 | $ | | $ | 556,504 |
1 | Included a zero valued security. |
* | Other financial instruments include unrealized appreciation (depreciation) on forward foreign currency contracts. |
The following is a reconciliation of investments as of July 31, 2023 for which significant unobservable inputs were used in determining fair value.
Corporate Bonds |
Bank Loans |
Common Stocks |
Warrants | Total | ||||||||||||||||
Balance as of October 31, 2022 |
$ | 147,913 | $ | 8,741,291 | $ | 1,306,725 | $ | 0 | (1) | $ | 10,195,929 | |||||||||
Accrued discounts (premiums) |
(17,364 | ) | (46,739 | ) | | | (64,103 | ) | ||||||||||||
Purchases |
| 556,640 | 384,771 | | 941,411 | |||||||||||||||
Sales |
(47,941 | ) | (2,942,519 | ) | (26,482 | ) | | (3,016,942 | ) | |||||||||||
Realized gain (loss) |
(206,350 | ) | (363,139 | ) | 26,482 | | (543,007 | ) | ||||||||||||
Change in unrealized appreciation (depreciation) |
252,629 | 403,564 | (29,719 | ) | | 626,474 | ||||||||||||||
Transfers into Level 3 |
| 2,732,882 | 18,930 | | 2,751,812 | |||||||||||||||
Transfers out of Level 3 |
| (2,159,416 | ) | (1,655,695 | ) | | (3,815,111 | ) | ||||||||||||
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Balance as of July 31, 2023 |
$ | 128,887 | $ | 6,922,564 | $ | 25,012 | $ | 0 | (1) | $ | 7,076,463 | |||||||||
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Net change in unrealized appreciation (depreciation) from investments still held as of July 31, 2023 |
$ | (15,359 | ) | $ | 107,303 | $ | | $ | | $ | 91,944 |
(1) | Includes zero valued securities. |
Quantitative Disclosure About Significant Unobservable Inputs
Asset Class |
Fair Value At 07/31/2023 |
Valuation |
Unobservable |
Price Range | ||||||
Corporate Bonds |
$ | 103,887 | Income Approach | Expected Remaining Distribution | $0.53 $0.65 ($0.59) | |||||
25,000 | Vendor Pricing | Single Broker Quote | 0.01 (N/A) | |||||||
Bank Loans |
6,922,564 | Vendor Pricing | Single Broker Quote | 0.00 0.99 (0.88) | ||||||
Common Stocks |
6,082 | Income Approach | Expected Remaining Distribution | 0.01 1.48 (0.77) | ||||||
18,930 | Vendor Pricing | Single Broker Quote | 0.28 (N/A) | |||||||
Warrants |
0 | Income Approach | Expected Remaining Distribution | 0.00 (N/A) |
* | Weighted by relative fair value |
Each fair value determination is based on a consideration of relevant factors, including both observable and unobservable inputs. Observable and unobservable inputs that Credit Suisse considers may include (i) the existence of any contractual restrictions on the disposition of securities; (ii) information obtained from the company, which may include an analysis of the companys financial statements, the companys products or intended markets or the companys technologies; (iii) the price of the same or similar security negotiated at arms length in an issuers completed subsequent round of financing; (iv) the price and extent of public trading in similar securities of the issuer or of comparable companies; or (v) a probability and time value adjusted analysis of contractual term. Where available and appropriate, multiple valuation methodologies are applied to confirm fair value. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, determining fair value requires more judgment. Because of the inherent uncertainty of valuation, those estimated values may be materially higher or lower than the values that would have been used had a ready market for the investments existed. Accordingly, the degree of judgment exercised by the Fund in determining fair value is greatest for investments categorized in Level 3. In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the least observable input that is significant to the fair value measurement. Additionally, changes in the market environment and other events that may occur over the life of the investments may cause the gains or losses ultimately realized on these investments to be different from the valuations used at the date of these financial statements.
During the period ended July 31, 2023, $2,751,812 was transferred from Level 2 to Level 3 due to a lack of a pricing source supported by observable inputs and $3,815,111 was transferred from Level 3 to Level 2 as a result of the availability of a pricing source supported by observable inputs. All transfers, if any, are assumed to occur at the end of the reporting period.
Other information regarding the Fund is available in the most recent Report to Shareholders. This information is also available on the Funds website at www.credit-suisse.com/us/funds, as well as on the website of the Securities and Exchange Commission at www.sec.gov.