| | | |
Price to Public(1)
|
| |
Sales Load(2)
|
| |
Proceeds to the Fund(3)
|
|
|
Per Class A Share
|
| | At current NAV, plus a sales load of up to 5.75% | | |
5.75%
|
| | Amount invested at current purchase price, less applicable Sales Load | |
|
Per Class I Share
|
| | At current NAV | | |
N/A
|
| | Amount invested at current NAV | |
|
Per Class L Share
|
| | At current NAV, plus a sales load of up to 3.5% | | |
3.5%
|
| | Amount invested at current purchase price, less applicable Sales Load | |
|
Per Class M Share
|
| | At current NAV | | |
N/A
|
| | Amount invested at current NAV | |
|
Per Class T Share
|
| | At current NAV, plus a sales load of up to 3.5% | | |
3.5%
|
| | Amount invested at current purchase price, less applicable Sales Load | |
|
Per Class U Share
|
| | At current NAV | | |
N/A(4)
|
| | Amount invested at current NAV | |
|
Total
|
| | Up to $2,000,000,000 | | |
Up to 5.75%
|
| | Up to $2,000,000,000(5) | |
| | | | | 1 | | | |
| | | | | 13 | | | |
| | | | | 16 | | | |
| | | | | 22 | | | |
| | | | | 24 | | | |
| | | | | 25 | | | |
| | | | | 26 | | | |
| | | | | 27 | | | |
| | | | | 28 | | | |
| | | | | 29 | | | |
| | | | | 35 | | | |
| | | | | 58 | | | |
| | | | | 107 | | | |
| | | | | 113 | | | |
| | | | | 116 | | | |
| | | | | 118 | | | |
| | | | | 120 | | | |
| | | | | 122 | | | |
| | | | | 125 | | | |
| | | | | 129 | | | |
| | | | | 135 | | | |
| | | | | 136 | | | |
| | | | | 143 | | | |
| | | | | 145 | | | |
| | | | | 146 | | | |
| | | | | 147 | | | |
| | | | | 148 | | |
|
Shareholder Fees
|
| |
Class A
|
| |
Class I
|
| |
Class L
|
| |
Class M
|
| |
Class T
|
| |
Class U
|
| ||||||||||||||||||
|
Maximum Sales Load Imposed on Purchases
(as a percentage of offering price) |
| | | | 5.75% | | | | | | None | | | | | | 3.50% | | | | | | None | | | | | | 3.50% | | | | | | None(1) | | |
| Annual Fund Expenses | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
(as a percentage of average net assets attributable to Shares)(2)
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
Management Fee(3)
|
| | | | 1.76% | | | | | | 1.76% | | | | | | 1.76% | | | | | | 1.76% | | | | | | 1.76% | | | | | | 1.76% | | |
|
Interest Payments on Borrowed Funds(4)
|
| | | | 0.34% | | | | | | 0.34% | | | | | | 0.34% | | | | | | 0.34% | | | | | | 0.34% | | | | | | 0.34% | | |
| Other Expenses | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
Shareholder Servicing Fee(5)
|
| | | | 0.25% | | | | | | None | | | | | | 0.25% | | | | | | None | | | | | | 0.25% | | | | | | None | | |
|
Distribution Fee(5)
|
| | | | None | | | | | | None | | | | | | 0.25% | | | | | | 0.25% | | | | | | 0.25% | | | | | | 0.75% | | |
|
Remaining Other Expenses(6)
|
| | | | 0.25% | | | | | | 0.25% | | | | | | 0.25% | | | | | | 0.25% | | | | | | 0.25% | | | | | | 0.25% | | |
|
Total Annual Fund Operating Expenses
|
| | | | 2.60% | | | | | | 2.35% | | | | | | 2.85% | | | | | | 2.60% | | | | | | 2.85% | | | | | | 3.10% | | |
| | | |
Class A
|
| |
Class I
|
| |
Class L
|
| |
Class M
|
| |
Class T
|
| |
Class U
|
| ||||||||||||||||||
|
Annual Fund Expenses (as a percentage of average net assets attributable to Shares)
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
Management Fee
|
| | | | 1.60% | | | | | | 1.60% | | | | | | 1.60% | | | | | | 1.60% | | | | | | 1.60% | | | | | | 1.60% | | |
| Other Expenses | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
Shareholder Servicing Fee
|
| | | | 0.25% | | | | | | None | | | | | | 0.25% | | | | | | None | | | | | | 0.25% | | | | | | None | | |
|
Distribution Fee
|
| | | | None | | | | | | None | | | | | | 0.25% | | | | | | 0.25% | | | | | | 0.25% | | | | | | 0.75% | | |
|
Remaining Other Expenses
|
| | | | 0.25% | | | | | | 0.25% | | | | | | 0.25% | | | | | | 0.25% | | | | | | 0.25% | | | | | | 0.25% | | |
|
Total Annual Fund Operating Expenses
|
| | | | 2.15% | | | | | | 1.90% | | | | | | 2.40% | | | | | | 2.15% | | | | | | 2.40% | | | | | | 2.65% | | |
|
Share Class
|
| |
1 Year
|
| |
3 Years
|
| |
5 Years
|
| |
10 Years
|
| ||||||||||||
|
Class A
|
| | | $ | 82 | | | | | $ | 134 | | | | | $ | 188 | | | | | $ | 334 | | |
|
Class I
|
| | | $ | 24 | | | | | $ | 73 | | | | | $ | 126 | | | | | $ | 269 | | |
|
Class L
|
| | | $ | 63 | | | | | $ | 120 | | | | | $ | 180 | | | | | $ | 341 | | |
|
Class M
|
| | | $ | 26 | | | | | $ | 81 | | | | | $ | 139 | | | | | $ | 294 | | |
|
Class T
|
| | | $ | 63 | | | | | $ | 120 | | | | | $ | 180 | | | | | $ | 341 | | |
|
Class U
|
| | | $ | 31 | | | | | $ | 96 | | | | | $ | 163 | | | | | $ | 341 | | |
| | | |
Period from
June 1, 2018 (Commencement of Operations) through October 31, 2018 |
| |||
| Per Share Data:(1) | | | |||||
|
Net asset value, beginning of period
|
| | | $ | 12.89 | | |
| Results of operations | | | |||||
|
Net investment income(2)
|
| | | | 0.23 | | |
|
Net realized gain (loss) and unrealized appreciation (depreciation) on investments
|
| | | | 0.12 | | |
|
Net increase (decrease) in net assets resulting from operations
|
| | | | 0.35 | | |
| Shareholder Distributions(3) | | | |||||
|
Distributions from net investment income
|
| | | | (0.37) | | |
|
Net decrease in net assets resulting from shareholder distributions
|
| | | | (0.37) | | |
|
Net asset value, end of period
|
| | | $ | 12.87 | | |
|
Shares outstanding, end of period
|
| | | | 69,904 | | |
|
Total return(4)(5)
|
| | | | 2.72% | | |
| Ratio/Supplemental Data: | | | |||||
|
Net assets, end of period
|
| | | $ | 900 | | |
|
Ratio of net investment income to average net assets(6)(7)
|
| | | | 4.30% | | |
|
Ratio of total expenses to average net assets(6)
|
| | | | 4.28% | | |
|
Ratio of expense reimbursement from adviser to average net assets(6)
|
| | | | (1.59)% | | |
|
Ratio of net expenses to average net assets(6)
|
| | | | 2.69% | | |
|
Portfolio turnover rate
|
| | | | 114% | | |
|
Asset coverage ratio per unit(8)
|
| | | | 11.64 | | |
| | | |
Year Ended
October 31, 2018 |
| |||
| Per Share Data:(1) | | | | | | | |
|
Net asset value, beginning of year
|
| | | $ | 12.50 | | |
| Results of operations | | | | | | | |
|
Net investment income(2)
|
| | | | 0.56 | | |
|
Net realized gain (loss) and unrealized appreciation (depreciation)
|
| | | | 0.39 | | |
|
Net increase (decrease) in net assets resulting from operations
|
| | | | 0.95 | | |
| Shareholder distributions(3) | | | | | | | |
|
Distributions from net investment income
|
| | | | (0.56) | | |
|
Net decrease in net assets resulting from shareholder distributions
|
| | | | (0.56) | | |
|
Net asset value, end of year
|
| | | $ | 12.89 | | |
|
Shares outstanding, end of year
|
| | | | 8,322,844 | | |
|
Total return(4)
|
| | | | 7.68% | | |
| Ratio/Supplemental Data: | | | | | | | |
|
Net assets, end of year
|
| | | $ | 107,317 | | |
|
Ratio of net investment income to average net assets(5)(6)
|
| | | | 4.38% | | |
|
Ratio of total expenses to average net assets(5)
|
| | | | 3.65% | | |
|
Ratio of expense reimbursement from adviser to average net assets(5)
|
| | | | (1.33)% | | |
|
Ratio of net expenses to average net assets(5)
|
| | | | 2.32% | | |
|
Portfolio turnover rate
|
| | | | 114% | | |
|
Asset coverage ratio per unit(7)
|
| | | | 11.64 | | |
| | | |
Period from
August 14, 2018 (Commencement of Operations) through October 31, 2018 |
| |||
| Per Share Data:(1) | | | | | | | |
|
Net asset value, beginning of period
|
| | | $ | 13.03 | | |
| Results of operations | | | | | | | |
|
Net investment income(2)
|
| | | | 0.12 | | |
|
Net realized gain (loss) and unrealized appreciation (depreciation) on investments
|
| | | | (0.07) | | |
|
Net increase (decrease) in net assets resulting from operations
|
| | | | 0.05 | | |
| Shareholder distributions(3) | | | | | | | |
|
Distributions from net investment income
|
| | | | (0.18) | | |
|
Net decrease in net assets resulting from shareholder distributions
|
| | | | (0.18) | | |
|
Net asset value, end of period
|
| | | $ | 12.90 | | |
|
Shares outstanding, end of period
|
| | | | 5,832 | | |
|
Total return(4)(5)
|
| | | | 0.39% | | |
| Ratio/Supplemental Data: | | | | | | | |
|
Net assets, end of period
|
| | | $ | 75 | | |
|
Ratio of net investment income to average net assets(6)(7)
|
| | | | 4.28% | | |
|
Ratio of total expenses to average net assets(6)
|
| | | | 4.18% | | |
|
Ratio of expense reimbursement from adviser to average net assets(6)
|
| | | | (1.14)% | | |
|
Ratio of net expenses to average net assets(6)
|
| | | | 3.04% | | |
|
Portfolio turnover rate
|
| | | | 114% | | |
|
Asset coverage ratio per unit(8)
|
| | | | 11.64 | | |
|
Portfolio Company(a)
|
| |
Footnotes
|
| |
Industry
|
| |
Principal
Amount(b) |
| |
Amortized
Cost |
| |
Fair
Value(c) |
| |||||||||
|
Senior Secured Loans — First
Lien — 13.5% |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
Abaco Energy Technologies
LLC, L + 950, 1.0% Floor, 11/20/2020 |
| |
(d)
|
| |
Independent Oil & Gas
|
| | | $ | 451 | | | | | $ | 449 | | | | | $ | 453 | | |
|
AHP Health Partners, Inc.,
L + 450, 1.0% Floor, 6/30/2025 |
| |
(d)
|
| |
Healthcare
|
| | | | 673 | | | | | | 667 | | | | | | 677 | | |
|
Aleris International, Inc., L +
475, 1.0% Floor, 2/27/2023 |
| |
(d)
|
| |
Metals and Mining
|
| | | | 673 | | | | | | 667 | | | | | | 680 | | |
|
California Resources Corp.,
L + 475, 1.0% Floor, 12/31/2022 |
| |
(d)
|
| |
Independent Oil & Gas
|
| | | | 1,168 | | | | | | 1,195 | | | | | | 1,189 | | |
|
Comet Bidco Limited, L + 500,
1.0% Floor, 9/30/2024 |
| |
(d)
|
| |
Consumer Cyclical Services
|
| | | | 701 | | | | | | 682 | | | | | | 694 | | |
|
CONSOL Energy, Inc., L + 600,
1.0% Floor, 11/28/2022 |
| |
(d)
|
| |
Metals and Mining
|
| | | | 245 | | | | | | 251 | | | | | | 252 | | |
|
East Valley Tourist
Development Authority, L + 800, 1.0% Floor, 12/17/2021 |
| |
(d)
|
| |
Leisure
|
| | | | 1,107 | | | | | | 1,107 | | | | | | 1,126 | | |
|
Financial & Risk US Holdings,
Inc., L + 375, 10/1/2025 |
| |
(d)
|
| |
Technology
|
| | | | 245 | | | | | | 244 | | | | | | 243 | | |
|
Genworth Financial, Inc.,
L + 450, 1.0% Floor, 3/7/2023 |
| |
(d)
|
| |
Life Insurance
|
| | | | 189 | | | | | | 188 | | | | | | 193 | | |
|
Holland & Barrett International,
E + 425, 1.0% Floor, 8/9/2024 |
| |
(d)
|
| |
Consumer Cyclical Services
|
| | | € | 400 | | | | | | 456 | | | | | | 443 | | |
|
Jo-Ann Stores, Inc., L + 500,
1.0% Floor, 10/20/2023 |
| |
(d)
|
| |
Retailers
|
| | | $ | 263 | | | | | | 262 | | | | | | 264 | | |
|
McDermott Technology
Americas Inc., L + 500, 1.0% Floor, 5/12/2025 |
| |
(d)
|
| |
Oil Field Services
|
| | | | 328 | | | | | | 327 | | | | | | 325 | | |
|
Modacin France SAS, E + 450,
1.25% PIK, 11/20/2020 |
| |
(d)(e)
|
| |
Retailers
|
| | | € | 435 | | | | | | 451 | | | | | | 299 | | |
|
Neiman Marcus Group Ltd.,
LLC, L + 325, 1.0% Floor, 10/25/2020 |
| |
(d)
|
| |
Retailers
|
| | | $ | 1,011 | | | | | | 937 | | | | | | 923 | | |
|
NMI Holdings, Inc., L + 475,
1.0% Floor, 5/17/2023 |
| |
(d)
|
| |
Property & Casualty Insurance
|
| | | | 309 | | | | | | 308 | | | | | | 312 | | |
|
Onex TSG Holdings II Corp.,
L + 400, 1.0% Floor, 7/31/2022 |
| |
(d)
|
| |
Healthcare
|
| | | | 88 | | | | | | 88 | | | | | | 88 | | |
|
Portfolio Company(a)
|
| |
Footnotes
|
| |
Industry
|
| |
Principal
Amount(b) |
| |
Amortized
Cost |
| |
Fair
Value(c) |
| |||||||||
|
Patterson Medical Holdings,
Inc., L + 475, 1.0% Floor, 8/28/2022 |
| |
(d)
|
| |
Healthcare
|
| | | $ | 910 | | | | | $ | 874 | | | | | $ | 876 | | |
|
Premier Oil plc, L + 500, 1.0%
Floor, 5/31/2021 |
| |
(d)(e)
|
| |
Independent Oil & Gas
|
| | | | 291 | | | | | | 274 | | | | | | 275 | | |
|
Premier Oil plc, L + 500, 1.0%
Floor, 5/31/2021 |
| |
(d)(e)
|
| |
Independent Oil & Gas
|
| | | | 955 | | | | | | 899 | | | | | | 900 | | |
|
Quorum Health Corp., L + 675,
1.0% Floor, 4/29/2022 |
| |
(d)(e)
|
| |
Healthcare
|
| | | | 157 | | | | | | 159 | | | | | | 159 | | |
|
R.R. Donnelley & Sons Co.,
L + 500, 1/15/2024 |
| |
(d)
|
| |
Media Entertainment
|
| | | | 775 | | | | | | 767 | | | | | | 770 | | |
|
R1 RCM, Inc., L + 525,
5/8/2025 |
| |
(d)
|
| |
Other Financial
|
| | | | 713 | | | | | | 708 | | | | | | 713 | | |
|
Red Ventures, LLC, L + 400,
11/8/2024 |
| |
(d)
|
| |
Media Entertainment
|
| | | | 262 | | | | | | 260 | | | | | | 263 | | |
|
Seadrill Partners Finco LLC,
L + 600, 1.0% Floor, 2/21/2021 |
| |
(d)
|
| |
Oil Field Services
|
| | | | 485 | | | | | | 432 | | | | | | 452 | | |
|
UTEX Industries Inc., L + 400,
1.0% Floor, 5/22/2021 |
| |
(d)
|
| |
Chemicals
|
| | | | 562 | | | | | | 560 | | | | | | 553 | | |
|
Valeant Pharmaceuticals
International, Inc., L + 300, 1.0% Floor, 6/2/2025 |
| |
(d)
|
| |
Pharmaceuticals
|
| | | | 101 | | | | | | 100 | | | | | | 101 | | |
|
Verifone Systems, Inc., L + 400,
8/20/2025 |
| |
(d)
|
| |
Technology
|
| | | | 250 | | | | | | 249 | | | | | | 250 | | |
|
Verscend Holding Corp.,
L + 450, 8/9/2025 |
| |
(d)
|
| |
Technology
|
| | | | 570 | | | | | | 566 | | | | | | 575 | | |
|
VVC Holding Corp., L + 425,
1.0% Floor, 7/9/2025 |
| |
(d)
|
| |
Healthcare
|
| | | | 570 | | | | | | 559 | | | | | | 567 | | |
|
Total Senior Secured
Loans — First Lien |
| | | | | | | | | | | | | | |
|
14,686
|
| | | |
|
14,615
|
| |
|
Senior Secured
Loans — Second Lien — 4.3% |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
Asurion LLC, L + 650,
8/4/2025 |
| |
(d)
|
| |
Property & Casualty Insurance
|
| | | | 450 | | | | | | 449 | | | | | | 463 | | |
|
BPP Pristine US Mezz A LLC,
L + 450, 1.0% Floor, 6/24/2020 |
| |
(d)(k)
|
| |
Other Financial
|
| | | | 1,900 | | | | | | 1,885 | | | | | | 1,881 | | |
|
DG Investment Intermediate
Holdings 2, Inc., L + 675, 0.8% Floor, 2/2/2026 |
| |
(d)
|
| |
Other Industrial
|
| | | | 290 | | | | | | 289 | | | | | | 292 | | |
|
Jo-Ann Stores, Inc., L + 850,
1.0% Floor, 5/21/2024 |
| |
(d)
|
| |
Retailers
|
| | | | 325 | | | | | | 320 | | | | | | 321 | | |
|
Onex TSG Holdings II Corp.,
L + 850, 1.0% Floor, 7/31/2023 |
| |
(d)(e)
|
| |
Healthcare
|
| | | | 320 | | | | | | 320 | | | | | | 318 | | |
|
UTEX Industries Inc., L + 725,
1.0% Floor, 5/22/2022 |
| |
(d)
|
| |
Chemicals
|
| | | | 960 | | | | | | 944 | | | | | | 940 | | |
|
Portfolio Company(a)
|
| |
Footnotes
|
| |
Industry
|
| |
Principal
Amount(b) |
| |
Amortized
Cost |
| |
Fair
Value(c) |
| |||||||||
|
Verifone Systems, Inc., L + 800,
8/20/2026 |
| |
(d)
|
| |
Technology
|
| | | $ | 420 | | | | | $ | 417 | | | | | $ | 420 | | |
|
Total Senior Secured
Loans — Second Lien |
| | | | | | | | | | | | | | |
|
4,624
|
| | | |
|
4,635
|
| |
|
Senior Secured Bonds — 21.1%
|
| | | | | | | | | | | | | | | | | | | | | | | | |
|
ABG Orphan Holdco Sarl, 14.0%,
2/28/2021 |
| |
(g)
|
| |
Engineering & Construction
|
| | | | 114 | | | | | | 111 | | | | | | 120 | | |
|
Altice Financing SA, 7.5%,
5/15/2026 |
| |
(f)(g)
|
| |
Media Entertainment
|
| | | | 400 | | | | | | 386 | | | | | | 378 | | |
|
Altice France SA, 7.4%,
5/1/2026 |
| |
(f)(g)
|
| |
Media Entertainment
|
| | | | 200 | | | | | | 196 | | | | | | 192 | | |
|
Altice France SA, 5.9%,
2/1/2027 |
| |
(f)(g)
|
| |
Media Entertainment
|
| | | € | 215 | | | | | | 251 | | | | | | 251 | | |
|
Altice France SA, 8.1%,
2/1/2027 |
| |
(f)(g)
|
| |
Media Entertainment
|
| | | $ | 1,685 | | | | | | 1,711 | | | | | | 1,670 | | |
|
Ambac LSNI LLC, 7.4%,
2/12/2023 |
| |
(f)(g)
|
| |
Insurance
|
| | | | 1,001 | | | | | | 1,014 | | | | | | 1,012 | | |
|
Avantor, Inc., 4.8%,
10/1/2024 |
| |
(g)
|
| |
Healthcare-Products
|
| | | € | 928 | | | | | | 1,102 | | | | | | 1,074 | | |
|
Avon International Operations,
Inc., 7.9%, 8/15/2022 |
| |
(f)(g)
|
| |
Household Products
|
| | | $ | 803 | | | | | | 804 | | | | | | 816 | | |
|
BCD Acquisition, Inc., 9.6%,
9/15/2023 |
| |
(f)(g)
|
| |
Auto Manufacturers
|
| | | | 674 | | | | | | 725 | | | | | | 714 | | |
|
Belden, Inc., 3.4%,
7/15/2027 |
| |
(g)
|
| |
Electrical Compo & Equipment
|
| | | € | 253 | | | | | | 281 | | | | | | 276 | | |
|
CGG Holding US, Inc., 7.9%,
5/1/2023 |
| |
(f)(g)
|
| |
Oil & Gas Services
|
| | | | 105 | | | | | | 129 | | | | | | 127 | | |
|
Chembulk Holding LLC, 8.0%,
2/2/2023 |
| |
(f)(g)
|
| |
Transportation
|
| | | $ | 400 | | | | | | 401 | | | | | | 406 | | |
|
CSI Compressco LP/CSI
Compressco Finance, Inc., 7.5%, 4/1/2025 |
| |
(f)(g)
|
| |
Oil & Gas Services
|
| | | | 1,432 | | | | | | 1,442 | | | | | | 1,453 | | |
|
Denbury Resources, Inc., 9.3%,
3/31/2022 |
| |
(f)(g)
|
| |
Oil & Gas
|
| | | | 610 | | | | | | 643 | | | | | | 637 | | |
|
Denbury Resources, Inc., 5.5%,
5/1/2022 |
| | | | |
Oil & Gas
|
| | | | 175 | | | | | | 152 | | | | | | 151 | | |
|
Denbury Resources, Inc., 7.5%,
2/15/2024 |
| |
(f)(g)
|
| |
Oil & Gas
|
| | | | 534 | | | | | | 534 | | | | | | 524 | | |
|
Drax Finco Plc, 6.6%,
11/1/2025 |
| |
(f)(g)
|
| |
Electric
|
| | | | 235 | | | | | | 235 | | | | | | 235 | | |
|
Eagle Bulk Shipco LLC, 8.3%,
11/28/2022 |
| |
(g)
|
| |
Transportation
|
| | | | 846 | | | | | | 855 | | | | | | 870 | | |
|
EP Energy LLC/Everest
Acquisition Finance, Inc., 7.8%, 5/15/2026 |
| |
(f)(g)
|
| |
Oil & Gas
|
| | | | 390 | | | | | | 391 | | | | | | 390 | | |
|
Frontier Communications Corp.,
8.5%, 4/1/2026 |
| |
(f)(g)
|
| |
Telecommunications
|
| | | | 1,860 | | | | | | 1,810 | | | | | | 1,733 | | |
|
HCA, Inc., 6.5%, 2/15/2020
|
| |
(g)
|
| |
Healthcare-Services
|
| | | | 599 | | | | | | 621 | | | | | | 619 | | |
|
HCA, Inc., 4.5%, 2/15/2027
|
| |
(g)
|
| |
Healthcare-Services
|
| | | | 268 | | | | | | 267 | | | | | | 261 | | |
|
Portfolio Company(a)
|
| |
Footnotes
|
| |
Industry
|
| |
Principal
Amount(b) |
| |
Amortized
Cost |
| |
Fair
Value(c) |
| |||||||||
|
Hexion, Inc., 6.6%,
4/15/2020 |
| |
(g)
|
| |
Chemicals
|
| | | $ | 154 | | | | | $ | 143 | | | | | $ | 136 | | |
|
Hexion, Inc., 10.4%,
2/1/2022 |
| |
(f)(g)
|
| |
Chemicals
|
| | | | 1,008 | | | | | | 998 | | | | | | 910 | | |
|
Hot Topic, Inc., 9.3%,
6/15/2021 |
| |
(f)(g)
|
| |
Retail
|
| | | | 621 | | | | | | 587 | | | | | | 616 | | |
|
Hudbay Minerals, Inc., 7.3%,
1/15/2023 |
| |
(f)(g)
|
| |
Mining
|
| | | | 155 | | | | | | 156 | | | | | | 156 | | |
|
Hudbay Minerals, Inc., 7.6%,
1/15/2025 |
| |
(f)(g)
|
| |
Mining
|
| | | | 208 | | | | | | 209 | | | | | | 209 | | |
|
JW Aluminum Continuous Cast
Co., 10.3%, 6/1/2026 |
| |
(f)(g)
|
| |
Mining
|
| | | | 27 | | | | | | 27 | | | | | | 27 | | |
|
L Brands, Inc., 6.9%,
11/1/2035 |
| |
(g)
|
| |
Retail
|
| | | | 134 | | | | | | 113 | | | | | | 114 | | |
|
L Brands, Inc., 6.8%,
7/1/2036 |
| |
(g)
|
| |
Retail
|
| | | | 271 | | | | | | 221 | | | | | | 224 | | |
|
Nomad Foods Bondco Plc,
3.3%, 5/15/2024 |
| |
(g)
|
| |
Food
|
| | | € | 421 | | | | | | 496 | | | | | | 482 | | |
|
Northern Oil and Gas, Inc.,
9.5%, 5/15/2023 |
| |
(g)
|
| |
Oil & Gas
|
| | | $ | 67 | | | | | | 70 | | | | | | 69 | | |
|
Northern Oil and Gas, Inc.,
9.5%, 5/15/2023 |
| |
(f)(g)
|
| |
Oil & Gas
|
| | | | 181 | | | | | | 188 | | | | | | 186 | | |
|
Pacific Drilling First Lien Escrow
Issuer Ltd., 8.4%, 10/1/2023 |
| |
(f)(g)
|
| |
Oil & Gas
|
| | | | 602 | | | | | | 607 | | | | | | 609 | | |
|
Pacific Drilling Second Lien
Escrow Issuer Ltd., 11.0%, 4/1/2024 |
| |
(f)(g)
|
| |
Oil & Gas
|
| | | | 101 | | | | | | 101 | | | | | | 106 | | |
|
Perstorp Holding AB, 11.0%,
9/30/2021 |
| |
(g)
|
| |
Chemicals
|
| | | | 547 | | | | | | 593 | | | | | | 590 | | |
|
Platin 1426 GmbH, 5.4%,
6/15/2023 |
| | | | |
Machinery-Diversified
|
| | | € | 175 | | | | | | 203 | | | | | | 193 | | |
|
Solocal Group, 8.0%,
3/15/2022 |
| | | | |
Internet
|
| | | | 1,358 | | | | | | 1,593 | | | | | | 1,535 | | |
|
Tendam Brands SAU, 5.0%,
9/15/2024 |
| |
(g)
|
| |
Retail
|
| | | | 220 | | | | | | 247 | | | | | | 233 | | |
|
Teva Pharmaceutical Finance
Netherlands III B.V., 6.0%, 4/15/2024 |
| |
(g)
|
| |
Pharmaceuticals
|
| | | $ | 218 | | | | | | 215 | | | | | | 217 | | |
|
Transocean Phoenix 2 Ltd.,
7.8%, 10/15/2024 |
| |
(f)(g)
|
| |
Oil & Gas Services
|
| | | | 1,036 | | | | | | 1,075 | | | | | | 1,074 | | |
|
Urban One, Inc., 7.4%,
4/15/2022 |
| |
(f)(g)
|
| |
Media Entertainment
|
| | | | 1,030 | | | | | | 1,025 | | | | | | 1,015 | | |
|
Wind Tre SpA, 5.0%,
1/20/2026 |
| |
(f)
|
| |
Telecommunications
|
| | | | 313 | | | | | | 266 | | | | | | 266 | | |
|
Total Senior Secured Bonds
|
| | | | | | | | | | | | | | | | 23,194 | | | | | | 22,876 | | |
| Unsecured Bonds — 44.4% | | | | | | | | | | | | | | | | | | | | | | | | | |
|
ABN AMRO Bank N.V., 4.8%
|
| |
(g)
|
| |
Commercial Banks
|
| | | € | 200 | | | | | | 223 | | | | | | 215 | | |
|
AHP Health Partners, Inc.,
9.8%, 7/15/2026 |
| |
(f)(g)
|
| |
Healthcare-Services
|
| | | $ | 1,223 | | | | | | 1,206 | | | | | | 1,246 | | |
|
Portfolio Company(a)
|
| |
Footnotes
|
| |
Industry
|
| |
Principal
Amount(b) |
| |
Amortized
Cost |
| |
Fair
Value(c) |
| |||||||||
|
American Tire Distributors, Inc.,
10.3%, 3/1/2022 |
| |
(f)(h)
|
| |
Distribution/Wholesale
|
| | | $ | 453 | | | | | $ | 466 | | | | | $ | 79 | | |
|
Apex Tool Group LLC/BC
Mountain Finance, Inc., 9.0%, 2/15/2023 |
| |
(f)(g)
|
| |
Hand/Machine Tools
|
| | | | 300 | | | | | | 294 | | | | | | 276 | | |
|
Aruba Investments, Inc., 8.8%,
2/15/2023 |
| |
(f)(g)
|
| |
Chemicals
|
| | | | 1,389 | | | | | | 1,429 | | | | | | 1,426 | | |
|
Banco de Sabadell SA, 6.5%,
5/18/2022 |
| |
(g)
|
| |
Commercial Banks
|
| | | € | 600 | | | | | | 682 | | | | | | 660 | | |
|
Banff Merger Sub, Inc., 9.8%,
9/1/2026 |
| |
(f)(g)
|
| |
IT Services
|
| | | $ | 386 | | | | | | 386 | | | | | | 373 | | |
|
Banff Merger Sub, Inc., 8.4%,
9/1/2026 |
| |
(g)
|
| |
IT Services
|
| | | € | 200 | | | | | | 231 | | | | | | 225 | | |
|
Bausch Health Companies,
Inc., 4.5%, 5/15/2023 |
| |
(g)
|
| |
Pharmaceuticals
|
| | | | 2,099 | | | | | | 2,359 | | | | | | 2,307 | | |
|
Bombardier, Inc., 7.8%,
3/15/2020 |
| |
(f)(g)
|
| |
Aerospace/Defense
|
| | | $ | 465 | | | | | | 489 | | | | | | 482 | | |
|
CaixaBank SA, 5.3%,
3/23/2026 |
| |
(g)
|
| |
Commercial Banks
|
| | | € | 2,200 | | | | | | 2,343 | | | | | | 2,280 | | |
|
CBS Radio, Inc., 7.3%,
11/1/2024 |
| |
(f)(g)
|
| |
Media Entertainment
|
| | | $ | 1,075 | | | | | | 1,040 | | | | | | 1,017 | | |
|
Citigroup, Inc., 6.0%
|
| |
(g)
|
| |
Commercial Banks
|
| | | | 74 | | | | | | 75 | | | | | | 73 | | |
|
Compass Group Diversified
Holdings LLC, 8.0%, 5/1/2026 |
| |
(f)(g)
|
| |
Investment Company Security
|
| | | | 271 | | | | | | 273 | | | | | | 277 | | |
|
Consolidated Energy Finance
SA, 6.5%, 5/15/2026 |
| |
(f)(g)
|
| |
Chemicals
|
| | | | 300 | | | | | | 298 | | | | | | 299 | | |
|
CrownRock LP/CrownRock
Finance, Inc., 5.6%, 10/15/2025 |
| |
(f)(g)
|
| |
Oil & Gas
|
| | | | 331 | | | | | | 316 | | | | | | 315 | | |
|
Endeavor Energy Resources
LP/EER Finance, Inc., 5.5%, 1/30/2026 |
| |
(f)(g)
|
| |
Oil & Gas
|
| | | | 385 | | | | | | 377 | | | | | | 396 | | |
|
Ensco PLC, 7.8%, 2/1/2026
|
| |
(g)
|
| |
Oil & Gas
|
| | | | 1,380 | | | | | | 1,312 | | | | | | 1,288 | | |
|
Ferroglobe Plc/Globe Specialty
Metals, Inc., 9.4%, 3/1/2022 |
| |
(f)(g)
|
| |
Mining
|
| | | | 543 | | | | | | 573 | | | | | | 572 | | |
|
Frontier California, Inc., 6.8%,
5/15/2027 |
| |
(g)
|
| |
Telecommunications
|
| | | | 2 | | | | | | 2 | | | | | | 2 | | |
|
Frontier Communications Corp.,
9.0%, 8/15/2031 |
| |
(g)
|
| |
Telecommunications
|
| | | | 2,740 | | | | | | 1,859 | | | | | | 1,702 | | |
|
Frontier Florida LLC, 6.9%,
2/1/2028 |
| |
(g)
|
| |
Telecommunications
|
| | | | 4 | | | | | | 4 | | | | | | 4 | | |
|
Frontier North, Inc., 6.7%,
2/15/2028 |
| |
(g)
|
| |
Telecommunications
|
| | | | 523 | | | | | | 457 | | | | | | 464 | | |
|
Hilcorp Energy I LP/Hilcorp
Finance Co., 6.3%, 11/1/2028 |
| |
(f)(g)
|
| |
Oil & Gas
|
| | | | 186 | | | | | | 186 | | | | | | 179 | | |
|
IAMGOLD Corp., 7.0%,
4/15/2025 |
| |
(f)(g)
|
| |
Mining
|
| | | | 745 | | | | | | 768 | | | | | | 740 | | |
|
Portfolio Company(a)
|
| |
Footnotes
|
| |
Industry
|
| |
Principal
Amount(b) |
| |
Amortized
Cost |
| |
Fair
Value(c) |
| |||||||||
|
Intertape Polymer Group, Inc.,
7.0%, 10/15/2026 |
| |
(f)(g)
|
| |
Packaging & Containers
|
| | | $ | 201 | | | | | $ | 201 | | | | | $ | 202 | | |
|
InterXion Holding N.V., 4.8%,
6/15/2025 |
| |
(f)(g)
|
| |
Software
|
| | | € | 940 | | | | | | 1,110 | | | | | | 1,112 | | |
|
Intesa Sanpaolo SpA, 7.8%
|
| |
(g)
|
| |
Commercial Banks
|
| | | | 410 | | | | | | 511 | | | | | | 477 | | |
|
Jaguar Holding Co. II/
Pharmaceutical Product Development LLC, 6.4%, 8/1/2023 |
| |
(f)(g)
|
| |
Commercial Services
|
| | | $ | 249 | | | | | | 250 | | | | | | 250 | | |
|
KLX, Inc., 5.9%, 12/1/2022
|
| |
(f)(g)
|
| |
Aerospace/Defense
|
| | | | 952 | | | | | | 989 | | | | | | 981 | | |
|
LGI Homes, Inc., 6.9%,
7/15/2026 |
| |
(f)(g)
|
| |
Home Builders
|
| | | | 1,110 | | | | | | 1,102 | | | | | | 1,052 | | |
|
Liberty Interactive LLC, 4.0%,
11/15/2029 |
| |
(g)
|
| |
Media Entertainment
|
| | | | 795 | | | | | | 564 | | | | | | 550 | | |
|
Liberty Interactive LLC, 3.8%,
2/15/2030 |
| |
(g)
|
| |
Media Entertainment
|
| | | | 1,404 | | | | | | 979 | | | | | | 969 | | |
|
Lloyds Banking Group PLC,
7.5% |
| |
(g)
|
| |
Commercial Banks
|
| | | | 815 | | | | | | 815 | | | | | | 820 | | |
|
Mallinckrodt International
Finance SA/Mallinckrodt CB LLC, 5.6%, 10/15/2023 |
| |
(f)(g)
|
| |
Healthcare-Products
|
| | | | 505 | | | | | | 426 | | | | | | 436 | | |
|
Marriott Ownership Resorts,
Inc./ILG LLC, 6.5%, 9/15/2026 |
| |
(f)(g)
|
| |
Lodging
|
| | | | 274 | | | | | | 274 | | | | | | 277 | | |
|
Methanex Corp., 5.7%,
12/1/2044 |
| |
(g)
|
| |
Chemicals
|
| | | | 1,019 | | | | | | 992 | | | | | | 954 | | |
|
Natural Resource Partners
LP/NRP Finance Corp., 10.5%, 3/15/2022 |
| |
(g)
|
| |
Coal
|
| | | | 600 | | | | | | 639 | | | | | | 641 | | |
|
Netflix, Inc., 3.6%, 5/15/2027
|
| |
(g)
|
| |
Internet
|
| | | € | 213 | | | | | | 249 | | | | | | 240 | | |
|
Nine Energy Service, Inc.,
8.8%, 11/1/2023 |
| |
(f)(g)
|
| |
Oil & Gas Services
|
| | | $ | 1,820 | | | | | | 1,820 | | | | | | 1,854 | | |
|
Oasis Petroleum, Inc., 6.3%,
5/1/2026 |
| |
(f)(g)
|
| |
Oil & Gas
|
| | | | 300 | | | | | | 301 | | | | | | 294 | | |
|
Parsley Energy LLC/Parsley
Finance Corp., 5.4%, 1/15/2025 |
| |
(f)(g)
|
| |
Oil & Gas
|
| | | | 100 | | | | | | 102 | | | | | | 98 | | |
|
Parsley Energy LLC/Parsley
Finance Corp., 5.3%, 8/15/2025 |
| |
(f)(g)
|
| |
Oil & Gas
|
| | | | 762 | | | | | | 756 | | | | | | 737 | | |
|
Performance Food Group, Inc.,
5.5%, 6/1/2024 |
| |
(f)(g)
|
| |
Distribution/Wholesale
|
| | | | 272 | | | | | | 268 | | | | | | 263 | | |
|
Puerto Rico Commonwealth
Aqueduct & Sewer Auth., 5.0%, 7/1/2019 |
| |
(g)
|
| |
Municipal
|
| | | | 460 | | | | | | 403 | | | | | | 425 | | |
|
Puerto Rico Commonwealth
Aqueduct & Sewer Auth., 6.2%, 7/1/2038 |
| |
(g)
|
| |
Municipal
|
| | | | 140 | | | | | | 126 | | | | | | 126 | | |
|
Puerto Rico Electric Power
Auth., 5.3%, 7/1/2019 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 10 | | | | | | 7 | | | | | | 6 | | |
|
Portfolio Company(a)
|
| |
Footnotes
|
| |
Industry
|
| |
Principal
Amount(b) |
| |
Amortized
Cost |
| |
Fair
Value(c) |
| |||||||||
|
Puerto Rico Electric Power
Auth., 5.0%, 7/1/2020 |
| |
(g)(h)
|
| |
Municipal
|
| | | $ | 110 | | | | | $ | 71 | | | | | $ | 71 | | |
|
Puerto Rico Electric Power
Auth., 5.0%, 7/1/2021 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 60 | | | | | | 39 | | | | | | 39 | | |
|
Puerto Rico Electric Power
Auth., 5.0%, 7/1/2021 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 5 | | | | | | 3 | | | | | | 3 | | |
|
Puerto Rico Electric Power
Auth., 3.8%, 7/1/2022 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 5 | | | | | | 3 | | | | | | 3 | | |
|
Puerto Rico Electric Power
Auth., 5.3%, 7/1/2022 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 55 | | | | | | 35 | | | | | | 35 | | |
|
Puerto Rico Electric Power
Auth., 5.3%, 7/1/2026 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 160 | | | | | | 104 | | | | | | 103 | | |
|
Puerto Rico Electric Power
Auth., 5.3%, 7/1/2027 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 315 | | | | | | 205 | | | | | | 203 | | |
|
Puerto Rico Electric Power
Auth., 5.0%, 7/1/2027 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 15 | | | | | | 10 | | | | | | 10 | | |
|
Puerto Rico Electric Power
Auth., 5.4%, 7/1/2028 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 55 | | | | | | 34 | | | | | | 35 | | |
|
Puerto Rico Electric Power
Auth., 5.3%, 7/1/2028 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 25 | | | | | | 16 | | | | | | 16 | | |
|
Puerto Rico Electric Power
Auth., 5.0%, 7/1/2029 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 400 | | | | | | 261 | | | | | | 258 | | |
|
Puerto Rico Electric Power
Auth., 6.0%, 7/1/2030 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 25 | | | | | | 16 | | | | | | 16 | | |
|
Puerto Rico Electric Power
Auth., 5.3%, 7/1/2031 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 120 | | | | | | 78 | | | | | | 77 | | |
|
Puerto Rico Electric Power
Auth., 5.3%, 7/1/2035 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 10 | | | | | | 6 | | | | | | 6 | | |
|
Puerto Rico Electric Power
Auth., 6.8%, 7/1/2036 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 190 | | | | | | 126 | | | | | | 125 | | |
|
Puerto Rico Electric Power
Auth., 5.5%, 7/1/2038 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 200 | | | | | | 127 | | | | | | 129 | | |
|
Puerto Rico Electric Power
Auth., 6.3%, 7/1/2040 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 5 | | | | | | 3 | | | | | | 3 | | |
|
Puerto Rico Electric Power
Auth., 6.1%, 7/1/2040 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 195 | | | | | | 122 | | | | | | 124 | | |
|
Puerto Rico Electric Power
Auth., 7.0%, 7/1/2043 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 80 | | | | | | 53 | | | | | | 53 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 5.4%, 8/1/2020 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 50 | | | | | | 24 | | | | | | 25 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 5.5%, 8/1/2021 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 900 | | | | | | 274 | | | | | | 442 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 5.5%, 8/1/2023 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 25 | | | | | | 8 | | | | | | 12 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 0.0%, 8/1/2026 |
| |
(g)(i)(j)
|
| |
Municipal
|
| | | | 25 | | | | | | 11 | | | | | | 11 | | |
|
Portfolio Company(a)
|
| |
Footnotes
|
| |
Industry
|
| |
Principal
Amount(b) |
| |
Amortized
Cost |
| |
Fair
Value(c) |
| |||||||||
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 0.0%, 8/1/2026 |
| |
(g)(i)(j)
|
| |
Municipal
|
| | | $ | 5 | | | | | $ | 2 | | | | | $ | 2 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 6.1%, 8/1/2028 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 5 | | | | | | 4 | | | | | | 4 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 0.0%, 8/1/2028 |
| |
(g)(i)(j)
|
| |
Municipal
|
| | | | 25 | | | | | | 10 | | | | | | 10 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 5.5%, 8/1/2028 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 30 | | | | | | 9 | | | | | | 15 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 6.1%, 8/1/2029 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 10 | | | | | | 5 | | | | | | 5 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 6.1%, 8/1/2029 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 75 | | | | | | 37 | | | | | | 37 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 0.0%, 8/1/2030 |
| |
(g)(i)(j)
|
| |
Municipal
|
| | | | 5 | | | | | | 2 | | | | | | 2 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 0.0%, 8/1/2031 |
| |
(g)(i)(j)
|
| |
Municipal
|
| | | | 10 | | | | | | 3 | | | | | | 3 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 6.8%, 8/1/2032 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 4,910 | | | | | | 1,553 | | | | | | 2,412 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 0.0%, 8/1/2034 |
| |
(g)(i)(j)
|
| |
Municipal
|
| | | | 245 | | | | | | 35 | | | | | | 34 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 6.0%, 8/1/2034 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 5 | | | | | | 4 | | | | | | 4 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 0.0%, 8/1/2035 |
| |
(g)(i)(j)
|
| |
Municipal
|
| | | | 10 | | | | | | 3 | | | | | | 3 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 4.9%, 8/1/2036 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 5 | | | | | | 4 | | | | | | 4 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 6.1%, 8/1/2036 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 1,330 | | | | | | 928 | | | | | | 1,071 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 5.8%, 8/1/2037 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 45 | | | | | | 14 | | | | | | 22 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 5.5%, 8/1/2037 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 75 | | | | | | 36 | | | | | | 36 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 6.1%, 8/1/2038 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 5 | | | | | | 4 | | | | | | 4 | | |
|
Portfolio Company(a)
|
| |
Footnotes
|
| |
Industry
|
| |
Principal
Amount(b) |
| |
Amortized
Cost |
| |
Fair
Value(c) |
| |||||||||
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 0.0%, 8/1/2039 |
| |
(g)(i)(j)
|
| |
Municipal
|
| | | $ | 25 | | | | | $ | 5 | | | | | $ | 5 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 6.4%, 8/1/2039 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 45 | | | | | | 14 | | | | | | 22 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 5.4%, 8/1/2039 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 30 | | | | | | 9 | | | | | | 15 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 5.3%, 8/1/2040 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 90 | | | | | | 75 | | | | | | 73 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 5.0%, 8/1/2040 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 80 | | | | | | 66 | | | | | | 65 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 5.5%, 8/1/2040 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 15 | | | | | | 7 | | | | | | 7 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 0.0%, 8/1/2041 |
| |
(g)(i)(j)
|
| |
Municipal
|
| | | | 5 | | | | | | 1 | | | | | | 1 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 5.3%, 8/1/2041 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 230 | | | | | | 107 | | | | | | 112 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 6.0%, 8/1/2042 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 265 | | | | | | 121 | | | | | | 130 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 5.5%, 8/1/2042 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 170 | | | | | | 75 | | | | | | 82 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 0.0%, 8/1/2043 |
| |
(g)(i)(j)
|
| |
Municipal
|
| | | | 2,635 | | | | | | 653 | | | | | | 706 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 5.3%, 8/1/2043 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 55 | | | | | | 17 | | | | | | 27 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 5.0%, 8/1/2043 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 50 | | | | | | 24 | | | | | | 24 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 6.5%, 8/1/2044 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 120 | | | | | | 58 | | | | | | 59 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 0.0%, 8/1/2044 |
| |
(g)(i)(j)
|
| |
Municipal
|
| | | | 2,235 | | | | | | 504 | | | | | | 568 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 0.0%, 8/1/2046 |
| |
(g)(i)(j)
|
| |
Municipal
|
| | | | 225 | | | | | | 45 | | | | | | 51 | | |
|
Puerto Rico Sales Tax
Financing Corp. Sales Tax Rev., 5.3%, 8/1/2057 |
| |
(g)(h)
|
| |
Municipal
|
| | | | 40 | | | | | | 33 | | | | | | 33 | | |
|
Portfolio Company(a)
|
| |
Footnotes
|
| |
Industry
|
| |
Principal
Amount(b) |
| |
Amortized
Cost |
| |
Fair
Value(c) |
| |||||||||
|
SemGroup Corp/Rose Rock
Finance Corp., 5.6%, 11/15/2023 |
| |
(g)
|
| |
Pipelines
|
| | | $ | 1,265 | | | | | $ | 1,213 | | | | | $ | 1,198 | | |
|
SemGroup Corp., 6.4%,
3/15/2025 |
| |
(g)
|
| |
Pipelines
|
| | | | 245 | | | | | | 234 | | | | | | 235 | | |
|
Shelf Drill Holdings Ltd., 8.3%,
2/15/2025 |
| |
(f)(g)
|
| |
Oil & Gas
|
| | | | 882 | | | | | | 895 | | | | | | 885 | | |
|
Spectrum Brands Holdings,
7.8%, 1/15/2022 |
| |
(g)
|
| |
Holding Companies-Diversified
|
| | | | 204 | | | | | | 211 | | | | | | 209 | | |
|
Springleaf Finance Corp., 7.1%,
3/15/2026 |
| |
(g)
|
| |
Diversified Financial Services
|
| | | | 251 | | | | | | 252 | | | | | | 238 | | |
|
Sprint Capital Corp., 8.8%,
3/15/2032 |
| |
(g)
|
| |
Telecommunications
|
| | | | 395 | | | | | | 431 | | | | | | 431 | | |
|
Sprint Communications, Inc.,
6.0%, 11/15/2022 |
| |
(g)
|
| |
Telecommunications
|
| | | | 70 | | | | | | 73 | | | | | | 71 | | |
|
Sprint Corp., 7.9%,
9/15/2023 |
| |
(g)
|
| |
Telecommunications
|
| | | | 125 | | | | | | 135 | | | | | | 134 | | |
|
Sprint Corp., 7.1%,
6/15/2024 |
| |
(g)
|
| |
Telecommunications
|
| | | | 100 | | | | | | 104 | | | | | | 102 | | |
|
Sterling Entertainment
Enterprises, LLC, 10.3%, 1/15/2025 |
| |
(k)
|
| |
Media Entertainment
|
| | | | 813 | | | | | | 801 | | | | | | 863 | | |
|
SunCoke Energy Partners
LP/SunCoke Energy Partners Finance Corp., 7.5%, 6/15/2025 |
| |
(f)(g)
|
| |
Coal
|
| | | | 736 | | | | | | 749 | | | | | | 753 | | |
|
Teck Resources Ltd., 6.1%,
10/1/2035 |
| |
(g)
|
| |
Mining
|
| | | | 395 | | | | | | 412 | | | | | | 405 | | |
|
Teck Resources Ltd., 6.3%,
7/15/2041 |
| |
(g)
|
| |
Mining
|
| | | | 197 | | | | | | 207 | | | | | | 197 | | |
|
Teck Resources Ltd., 5.4%,
2/1/2043 |
| |
(g)
|
| |
Mining
|
| | | | 46 | | | | | | 44 | | | | | | 42 | | |
|
Teekay Shuttle Tankers LLC,
7.1%, 8/15/2022 |
| |
(g)
|
| |
Transportation
|
| | | | 600 | | | | | | 607 | | | | | | 593 | | |
|
Tesla Energy Operations, Inc.,
1.6%, 11/1/2019 |
| |
(g)
|
| |
Energy-Alternate Sources
|
| | | | 389 | | | | | | 357 | | | | | | 368 | | |
|
Transocean, Inc., 9.0%,
7/15/2023 |
| |
(f)(g)
|
| |
Oil & Gas
|
| | | | 460 | | | | | | 495 | | | | | | 484 | | |
|
Uber Technologies, Inc., 7.5%,
11/1/2023 |
| |
(e)(f)
|
| |
Internet
|
| | | | 124 | | | | | | 125 | | | | | | 124 | | |
|
Uber Technologies, Inc., 8.0%,
11/1/2026 |
| |
(e)(f)
|
| |
Internet
|
| | | | 1,080 | | | | | | 1,080 | | | | | | 1,085 | | |
|
Verscend Escrow Corp., 9.8%,
8/15/2026 |
| |
(f)(g)
|
| |
Commercial Services
|
| | | | 1,218 | | | | | | 1,218 | | | | | | 1,223 | | |
|
Vizient, Inc., 10.4%, 3/1/2024
|
| |
(f)(g)
|
| |
Pharmaceuticals
|
| | | | 969 | | | | | | 1,070 | | | | | | 1,057 | | |
|
XPO Logistics, Inc., 6.1%,
9/1/2023 |
| |
(f)(g)
|
| |
Transportation
|
| | | | 245 | | | | | | 252 | | | | | | 251 | | |
|
Total Unsecured Bonds
|
| | | | | | | | | | | | | | | | 47,593 | | | | | | 48,056 | | |
|
Portfolio Company(a)
|
| |
Footnotes
|
| |
Industry
|
| |
Principal
Amount(b) |
| |
Amortized
Cost |
| |
Fair
Value(c) |
| |||||||||
|
Collateralized Loan Obligation
(CLO) /Structured Credit — 24.7% |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
Adagio V CLO DAC, 3.2%,
10/15/2031 |
| | | | |
EUR CLO
|
| | | € | 200 | | | | | $ | 235 | | | | | $ | 227 | | |
|
ALM XVIII Ltd., 5.4%,
1/15/2028 |
| |
(f)
|
| |
USD CLO
|
| | | $ | 290 | | | | | | 290 | | | | | | 291 | | |
|
Anchorage Capital Europe CLO
2 DAC, 3.5%, 5/15/2031 |
| |
(f)
|
| |
EUR CLO
|
| | | € | 250 | | | | | | 292 | | | | | | 285 | | |
|
Ares European CLO B.V.,
2.9%, 10/15/2030 |
| | | | |
EUR CLO
|
| | | | 560 | | | | | | 655 | | | | | | 630 | | |
|
Ares European CLO B.V.,
2.9%, 10/15/2030 |
| | | | |
EUR CLO
|
| | | | 1,290 | | | | | | 1,497 | | | | | | 1,450 | | |
|
Ares XXXVII CLO Ltd., 5.1%,
10/15/2030 |
| |
(f)
|
| |
USD CLO
|
| | | $ | 250 | | | | | | 247 | | | | | | 248 | | |
|
Ares XXXVR CLO Ltd., 5.3%,
7/15/2030 |
| |
(f)
|
| |
USD CLO
|
| | | | 250 | | | | | | 250 | | | | | | 251 | | |
|
Atrium XII, 5.3%, 4/22/2027
|
| |
(f)
|
| |
USD CLO
|
| | | | 250 | | | | | | 250 | | | | | | 250 | | |
|
Babson Euro CLO 2015-1 B.V.,
1.5%, 10/25/2029 |
| | | | |
EUR CLO
|
| | | € | 305 | | | | | | 350 | | | | | | 340 | | |
|
Bain Capital Credit CLO
2018-2, 4.3%, 7/19/2031 |
| |
(f)
|
| |
USD CLO
|
| | | $ | 250 | | | | | | 250 | | | | | | 250 | | |
|
Battalion CLO IX Ltd., 5.7%,
7/15/2031 |
| |
(f)
|
| |
USD CLO
|
| | | | 710 | | | | | | 710 | | | | | | 711 | | |
|
Black Diamond CLO 2014-1
Ltd., 7.7%, 10/17/2026 |
| | | | |
USD CLO
|
| | | | 260 | | | | | | 258 | | | | | | 259 | | |
|
Black Diamond CLO 2017-2
DAC, 5.1%, 1/20/2032 |
| | | | |
EUR CLO
|
| | | € | 200 | | | | | | 223 | | | | | | 216 | | |
|
BlueMountain CLO XXIII Ltd.,
10/20/2031 |
| |
(e)(f)(j)
|
| |
USD CLO
|
| | | $ | 300 | | | | | | 300 | | | | | | 300 | | |
|
BlueMountain Fuji EUR CLO III
DAC, 3.1%, 1/15/2031 |
| | | | |
EUR CLO
|
| | | € | 615 | | | | | | 712 | | | | | | 698 | | |
|
Cairn CLO IV B.V., 5.7%,
1/30/2028 |
| | | | |
EUR CLO
|
| | | | 200 | | | | | | 231 | | | | | | 220 | | |
|
Cairn CLO VI B.V., 3.1%,
7/25/2029 |
| | | | |
EUR CLO
|
| | | | 425 | | | | | | 496 | | | | | | 482 | | |
|
Canyon Capital CLO 2016-1
Ltd., 4.3%, 7/15/2031 |
| |
(f)
|
| |
USD CLO
|
| | | $ | 250 | | | | | | 250 | | | | | | 250 | | |
|
Carlyle Global Market
Strategies CLO 2014-4-R Ltd., 5.3%, 7/15/2030 |
| |
(f)
|
| |
USD CLO
|
| | | | 250 | | | | | | 250 | | | | | | 250 | | |
|
Carlyle Global Market
Strategies Euro CLO 2014-1 Ltd., 2.9%, 7/15/2031 |
| | | | |
EUR CLO
|
| | | € | 340 | | | | | | 396 | | | | | | 380 | | |
|
Carlyle Global Market
Strategies Euro CLO 2014-2 Ltd., 11/17/2031 |
| |
(e)(j)
|
| |
EUR CLO
|
| | | € | 285 | | | | | | 328 | | | | | | 323 | | |
|
Carlyle Global Market
Strategies Euro CLO 2015-2 DAC, 2.7%, 9/21/2029 |
| | | | |
EUR CLO
|
| | | € | 140 | | | | | | 163 | | | | | | 158 | | |
|
Portfolio Company(a)
|
| |
Footnotes
|
| |
Industry
|
| |
Principal
Amount(b) |
| |
Amortized
Cost |
| |
Fair
Value(c) |
| |||||||||
|
Carlyle Global Market
Strategies Euro CLO 2015-3 DAC, 2.6%, 7/15/2030 |
| | | | |
EUR CLO
|
| | | € | 275 | | | | | $ | 323 | | | | | $ | 303 | | |
|
Cathedral Lake CLO 2013 Ltd.,
4.7%, 10/15/2029 |
| |
(f)
|
| |
USD CLO
|
| | | $ | 275 | | | | | | 275 | | | | | | 276 | | |
|
CFIP CLO 2017-1 Ltd., 4.5%,
1/18/2030 |
| |
(f)
|
| |
USD CLO
|
| | | | 285 | | | | | | 285 | | | | | | 286 | | |
|
Clarinda Park CLO DAC, 3.7%,
11/15/2029 |
| | | | |
EUR CLO
|
| | | € | 280 | | | | | | 327 | | | | | | 317 | | |
|
Dartry Park CLO DAC, 3.0%,
4/28/2029 |
| | | | |
EUR CLO
|
| | | | 100 | | | | | | 116 | | | | | | 113 | | |
|
Dartry Park CLO DAC, 5.7%,
4/28/2029 |
| | | | |
EUR CLO
|
| | | | 100 | | | | | | 116 | | | | | | 114 | | |
|
Euro-Galaxy IV CLO B.V.,
3.1%, 7/30/2030 |
| | | | |
EUR CLO
|
| | | | 280 | | | | | | 330 | | | | | | 317 | | |
|
Grosvenor Place CLO 2015-1
B.V., 5.4%, 10/30/2029 |
| | | | |
EUR CLO
|
| | | | 100 | | | | | | 121 | | | | | | 113 | | |
|
Grosvenor Place CLO 2015-1
B.V., 1.6%, 10/30/2029 |
| | | | |
EUR CLO
|
| | | | 100 | | | | | | 123 | | | | | | 112 | | |
|
Grosvenor Place CLO 2015-1
B.V., 2.5%, 10/30/2029 |
| | | | |
EUR CLO
|
| | | | 100 | | | | | | 118 | | | | | | 111 | | |
|
Harvest CLO IX DAC, 3.0%,
2/15/2030 |
| | | | |
EUR CLO
|
| | | | 195 | | | | | | 226 | | | | | | 222 | | |
|
Harvest CLO X DAC, 4.7%,
11/15/2028 |
| | | | |
EUR CLO
|
| | | | 117 | | | | | | 139 | | | | | | 133 | | |
|
Harvest CLO X DAC, 2.5%,
11/15/2028 |
| | | | |
EUR CLO
|
| | | | 390 | | | | | | 452 | | | | | | 442 | | |
|
Harvest CLO XX DAC,
10/20/2031 |
| |
(e)(j)
|
| |
EUR CLO
|
| | | | 380 | | | | | | 437 | | | | | | 432 | | |
|
Harvest CLO XX DAC,
10/20/2031 |
| |
(e)(j)
|
| |
EUR CLO
|
| | | | 100 | | | | | | 115 | | | | | | 113 | | |
|
ICG US CLO Ltd. ICG 2014 1A
CR 144A, 5.6%, 1/20/2030 |
| |
(f)
|
| |
USD CLO
|
| | | $ | 250 | | | | | | 250 | | | | | | 251 | | |
|
Jubilee CLO 2014-XI B.V.,
5.4%, 4/15/2030 |
| | | | |
EUR CLO
|
| | | € | 130 | | | | | | 150 | | | | | | 143 | | |
|
Jubilee CLO 2014-Xii B.V.,
2.9%, 4/15/2030 |
| | | | |
EUR CLO
|
| | | | 155 | | | | | | 175 | | | | | | 175 | | |
|
Jubilee CLO 2015-XVI B.V.,
6.9%, 12/15/2029 |
| | | | |
EUR CLO
|
| | | | 250 | | | | | | 284 | | | | | | 276 | | |
|
Jubilee CLO 2016-XVII B.V.,
3.5%, 4/15/2031 |
| | | | |
EUR CLO
|
| | | | 100 | | | | | | 116 | | | | | | 114 | | |
|
Jubilee CLO 2017-XVIII B.V.,
3.1%, 1/15/2030 |
| | | | |
EUR CLO
|
| | | | 345 | | | | | | 401 | | | | | | 391 | | |
|
Kingsland IX Ltd., 4.3%,
4/28/2031 |
| |
(f)
|
| |
USD CLO
|
| | | $ | 200 | | | | | | 200 | | | | | | 200 | | |
|
Kingsland IX Ltd., 4.9%,
4/28/2031 |
| |
(f)
|
| |
USD CLO
|
| | | | 200 | | | | | | 200 | | | | | | 200 | | |
|
Kingsland IX Ltd., 5.7%,
4/28/2031 |
| |
(f)
|
| |
USD CLO
|
| | | | 200 | | | | | | 198 | | | | | | 200 | | |
|
KKR CLO 16 Ltd., 6.6%,
1/20/2029 |
| |
(f)
|
| |
USD CLO
|
| | | | 250 | | | | | | 253 | | | | | | 251 | | |
|
Portfolio Company(a)
|
| |
Footnotes
|
| |
Industry
|
| |
Principal
Amount(b) |
| |
Amortized
Cost |
| |
Fair
Value(c) |
| |||||||||
|
Madison Park Funding XX Ltd.,
5.5%, 7/27/2030 |
| |
(f)
|
| |
USD CLO
|
| | | $ | 350 | | | | | $ | 350 | | | | | $ | 351 | | |
|
Man GLG US CLO 2018-2 Ltd.,
10/15/2028 |
| |
(e)(f)(k)(j)
|
| |
USD CLO
|
| | | | 510 | | | | | | 508 | | | | | | 510 | | |
|
MP CLO VII Ltd., 5.1%,
10/18/2028 |
| |
(f)
|
| |
USD CLO
|
| | | | 250 | | | | | | 250 | | | | | | 250 | | |
|
MP CLO VIII Ltd., 8.0%,
10/28/2027 |
| |
(f)
|
| |
USD CLO
|
| | | | 250 | | | | | | 251 | | | | | | 250 | | |
|
Neuberger Berman CLO XV,
5.5%, 10/15/2029 |
| |
(f)
|
| |
USD CLO
|
| | | | 670 | | | | | | 672 | | | | | | 671 | | |
|
Neuberger Berman CLO XX
Ltd., 4.8%, 1/15/2028 |
| |
(f)
|
| |
USD CLO
|
| | | | 250 | | | | | | 250 | | | | | | 249 | | |
|
OAK Hill European Credit
Partners VII DAC, 10/20/2031 |
| |
(e)(j)
|
| |
EUR CLO
|
| | | € | 100 | | | | | | 116 | | | | | | 113 | | |
|
OAK Hill European Credit
Partners VII DAC, 10/20/2031 |
| |
(e)(j)
|
| |
EUR CLO
|
| | | | 125 | | | | | | 145 | | | | | | 142 | | |
|
OCP CLO 2015-10 Ltd., 5.1%,
10/26/2027 |
| |
(f)
|
| |
USD CLO
|
| | | $ | 250 | | | | | | 250 | | | | | | 249 | | |
|
OCP CLO 2015-8 Ltd., 4.3%,
4/17/2027 |
| |
(f)
|
| |
USD CLO
|
| | | | 595 | | | | | | 595 | | | | | | 594 | | |
|
OCP CLO 2017-14 Ltd., 4.3%,
11/20/2030 |
| |
(f)
|
| |
USD CLO
|
| | | | 250 | | | | | | 250 | | | | | | 249 | | |
|
Octagon Investment Partners
XXII Ltd., 4.4%, 1/22/2030 |
| |
(f)
|
| |
USD CLO
|
| | | | 250 | | | | | | 251 | | | | | | 249 | | |
|
Orwell Park CLO Designated
Activity Co., 4.5%, 7/18/2029 |
| | | | |
EUR CLO
|
| | | € | 200 | | | | | | 236 | | | | | | 221 | | |
|
Park Avenue Institutional
Advisers CLO Ltd. 2017-1, 4.5%, 11/14/2029 |
| |
(f)
|
| |
USD CLO
|
| | | $ | 250 | | | | | | 251 | | | | | | 251 | | |
|
Phoenix Park CLO DAC, 2.5%,
10/29/2031 |
| | | | |
EUR CLO
|
| | | € | 190 | | | | | | 220 | | | | | | 215 | | |
|
Preferred Term Securities XX
Ltd./Preferred Term Securities XX, Inc., 2.8%, 3/22/2038 |
| |
(f)
|
| |
USD CDO
|
| | | $ | 437 | | | | | | 333 | | | | | | 398 | | |
|
Preferred Term Securities XXIV
Ltd./Preferred Term Securities XXIV, Inc., 2.7%, 3/22/2037 |
| |
(f)
|
| |
USD CDO
|
| | | | 438 | | | | | | 330 | | | | | | 390 | | |
|
Regatta XI Funding Ltd., 5.3%,
7/17/2031 |
| |
(f)
|
| |
USD CLO
|
| | | | 250 | | | | | | 250 | | | | | | 248 | | |
|
Rockford Tower Europe CLO
2018-1 DAC, 12/20/2031 |
| |
(e)(f)(j)
|
| |
EUR CLO
|
| | | € | 250 | | | | | | 284 | | | | | | 283 | | |
|
RR 4 Ltd., 5.4%, 4/15/2030
|
| |
(f)
|
| |
USD CLO
|
| | | $ | 250 | | | | | | 250 | | | | | | 249 | | |
|
Shackleton 2013-III CLO Ltd.,
5.5%, 7/15/2030 |
| |
(f)
|
| |
USD CLO
|
| | | | 250 | | | | | | 250 | | | | | | 248 | | |
|
Shackleton 2015-VII-R CLO
Ltd., 5.7%, 7/15/2031 |
| |
(f)
|
| |
USD CLO
|
| | | | 250 | | | | | | 250 | | | | | | 251 | | |
|
Portfolio Company(a)
|
| |
Footnotes
|
| |
Industry
|
| |
Principal
Amount(b) |
| |
Amortized
Cost |
| |
Fair
Value(c) |
| |||||||||
|
Sorrento Park CLO DAC, 2.7%,
11/16/2027 |
| | | | |
EUR CLO
|
| | | € | 250 | | | | | $ | 285 | | | | | $ | 283 | | |
|
Sound Point CLO V-R Ltd.,
5.4%, 7/18/2031 |
| |
(f)
|
| |
USD CLO
|
| | | $ | 710 | | | | | | 710 | | | | | | 711 | | |
|
Sound Point CLO VI-R Ltd.,
5.9%, 10/20/2031 |
| |
(f)
|
| |
USD CLO
|
| | | | 320 | | | | | | 320 | | | | | | 321 | | |
|
Sound Point CLO XX Ltd.,
5.3%, 7/26/2031 |
| |
(f)
|
| |
USD CLO
|
| | | | 460 | | | | | | 460 | | | | | | 460 | | |
|
St Pauls CLO II DAC, 3.4%,
2/15/2030 |
| | | | |
EUR CLO
|
| | | € | 225 | | | | | | 263 | | | | | | 256 | | |
|
Steele Creek CLO 2017-1 Ltd.,
5.3%, 1/15/2030 |
| |
(f)
|
| |
USD CLO
|
| | | $ | 250 | | | | | | 247 | | | | | | 248 | | |
|
Symphony CLO XIX Ltd., 5.0%,
4/16/2031 |
| |
(f)
|
| |
USD CLO
|
| | | | 250 | | | | | | 248 | | | | | | 248 | | |
|
TCI-Cent CLO 2017-1 Income
Note Issuer Ltd., 6.1%, 7/25/2030 |
| |
(f)
|
| |
USD CLO
|
| | | | 500 | | | | | | 503 | | | | | | 503 | | |
|
Tikehau CLO B.V., 4.6%,
8/4/2028 |
| | | | |
EUR CLO
|
| | | € | 170 | | | | | | 198 | | | | | | 188 | | |
|
Tikehau CLO B.V., 2.4%,
8/4/2028 |
| | | | |
EUR CLO
|
| | | | 165 | | | | | | 193 | | | | | | 183 | | |
|
Tikehau CLO IV B.V., 3.3%,
10/15/2031 |
| | | | |
EUR CLO
|
| | | | 215 | | | | | | 249 | | | | | | 245 | | |
|
Toro European CLO 2 DAC,
3.3%, 10/15/2030 |
| | | | |
EUR CLO
|
| | | € | 255 | | | | | | 300 | | | | | | 290 | | |
|
Toro European CLO 3 DAC,
3.3%, 4/15/2030 |
| | | | |
EUR CLO
|
| | | € | 180 | | | | | | 209 | | | | | | 204 | | |
|
Tymon Park CLO DAC, 6.8%,
1/21/2029 |
| | | | |
EUR CLO
|
| | | | 250 | | | | | | 285 | | | | | | 277 | | |
|
Tymon Park CLO Ltd., 4.6%,
1/21/2029 |
| | | | |
EUR CLO
|
| | | | 100 | | | | | | 121 | | | | | | 110 | | |
|
Vibrant CLO VI Ltd., 4.9%,
6/20/2029 |
| |
(f)
|
| |
USD CLO
|
| | | $ | 425 | | | | | | 427 | | | | | | 427 | | |
|
VOYA CLO Ltd., 4.8%,
1/18/2029 |
| |
(f)
|
| |
USD CLO
|
| | | | 250 | | | | | | 250 | | | | | | 249 | | |
|
Webster Park CLO Ltd., 5.4%,
7/20/2030 |
| |
(f)
|
| |
USD CLO
|
| | | | 250 | | | | | | 250 | | | | | | 250 | | |
|
Willow Park CLO 1X C, 2.8%,
1/15/2031 |
| | | | |
EUR CLO
|
| | | € | 270 | | | | | | 309 | | | | | | 304 | | |
|
York CLO-3 Ltd., 4.9%,
10/20/2029 |
| | | | |
USD CLO
|
| | | $ | 288 | | | | | | 288 | | | | | | 288 | | |
|
Total Collateralized Loan
Obligation / Structured Credit |
| | | | | | | | | | | | | | | | 27,020 | | | | | | 26,750 | | |
|
Emerging Markets Debt — 2.5%
|
| | | | | | | | | | | | | | | | | | | | | | | | |
|
Oi S.A., 10.0%, 7/27/2025
|
| |
(g)
|
| |
Wirelines
|
| | | | 597 | | | | | | 599 | | | | | | 631 | | |
|
Provincia de Entre Rios
Argentina, 8.8%, 2/8/2025 |
| |
(g)
|
| |
Municipal
|
| | | | 1,905 | | | | | | 1,853 | | | | | | 1,471 | | |
|
Provincia de la Rioja, 9.8%,
2/24/2025 |
| |
(g)
|
| |
Provincial
|
| | | | 830 | | | | | | 858 | | | | | | 673 | | |
|
Total Emerging Markets Debt
|
| | | | | | | | | | | | | | | | 3,310 | | | | | | 2,775 | | |
|
Portfolio Company(a)
|
| |
Footnotes
|
| |
Industry
|
| |
Number of
Shares |
| |
Cost
|
| |
Fair
Value(c) |
| |||||||||
| Preferred Stock — 0.2% | | | | | | | | | | | | | | | | | | | | | | | | | |
|
Verscend Technologies, Inc.,
12.3% |
| |
(k)
|
| |
Healthcare-Software
|
| | | | 200 | | | | | $ | 194 | | | | | $ | 195 | | |
|
Total Preferred Stock
|
| | | | | | | | | | | | | | | | 194 | | | | | | 195 | | |
| Common Stock — 0.3% | | | | | | | | | | | | | | | | | | | | | | | | | |
|
Oi S.A. ADR
|
| | | | |
Wirelines
|
| | | | 93,102 | | | | | | 380 | | | | | | 340 | | |
|
Total Common Stock
|
| | | | | | | | | | | | | | | | 380 | | | | | | 340 | | |
|
TOTAL INVESTMENTS — 111.0%
|
| | | | | | | | | | | | | | |
$
|
121,001
|
| | | |
|
120,242
|
| |
|
LIABILITIES IN EXCESS OF OTHER
ASSETS — (11.0)% |
| |
(l)
|
| | | | | | | | | | | | | | | | | |
|
(11,950)
|
| |
|
NET ASSETS — 100.0%
|
| | | | | | | | | | | | | | | | | | | | |
$
|
108,292
|
| |
|
Portfolio Company(a)
|
| |
Footnotes
|
| |
Industry
|
| |
Principal
Amount(b) |
| |
Proceeds
|
| |
Fair
Value(c) |
| |||||||||
| U.S. Treasury — (0.9)% | | | | | | | | | | | | | | | | | | | | | | | | | |
|
U.S. Treasury Note, 2.4%, 5/15/2027
|
| |
(j)
|
| |
Sovereign
|
| | | $ | 647 | | | | | $ | (619) | | | | | $ | (611) | | |
|
U.S. Treasury Note, 2.9%, 8/15/2028
|
| |
(j)
|
| |
Sovereign
|
| | | | 94 | | | | | | (92) | | | | | | (92) | | |
|
U.S. Treasury Note, 2.8%, 8/15/2047
|
| |
(j)
|
| |
Sovereign
|
| | | | 358 | | | | | | (336) | | | | | | (316) | | |
|
Total Investments Sold Short
|
| | | | | | | | | | | | | | | $ | (1,047) | | | | | $ | (1,019) | | |
|
Counterparty
|
| |
Contract
Settlement Date |
| |
Currency
to be Received |
| |
Value
|
| |
Currency
to be Delivered |
| |
Value
|
| |
Unrealized
Appreciation |
| |
Unrealized
Depreciation |
| ||||||||||||
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 6 | | | |
BRL
|
| | | | 23 | | | | | $ | — | | | | | $ | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 5 | | | |
BRL
|
| | | | 18 | | | | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 10 | | | |
BRL
|
| | | | 38 | | | | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 8 | | | |
BRL
|
| | | | 31 | | | | | | — | | | | | | — | | |
|
State Street Bank and Trust Company
|
| |
12/19/2018
|
| |
USD
|
| | | | 10 | | | |
BRL
|
| | | | 36 | | | | | | — | | | | | | 1 | | |
|
State Street Bank and Trust Company
|
| |
12/19/2018
|
| |
USD
|
| | | | 8 | | | |
BRL
|
| | | | 29 | | | | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
11/26/2018
|
| |
USD
|
| | | | 35 | | | |
BRL
|
| | | | 130 | | | | | | — | | | | | | 3 | | |
|
JPMorgan Chase Bank, N.A.
|
| |
11/26/2018
|
| |
USD
|
| | | | 42 | | | |
BRL
|
| | | | 158 | | | | | | — | | | | | | 3 | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 23 | | | |
BRL
|
| | | | 85 | | | | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 19 | | | |
BRL
|
| | | | 70 | | | | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 107 | | | |
BRL
|
| | | | 401 | | | | | | — | | | | | | 7 | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 130 | | | |
BRL
|
| | | | 487 | | | | | | — | | | | | | 9 | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 150 | | | |
BRL
|
| | | | 561 | | | | | | — | | | | | | 2 | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 182 | | | |
BRL
|
| | | | 682 | | | | | | — | | | | | | 2 | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 497 | | | |
EUR
|
| | | | 437 | | | | | | 2 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 750 | | | |
EUR
|
| | | | 659 | | | | | | 14 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 630 | | | |
EUR
|
| | | | 554 | | | | | | 13 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 308 | | | |
EUR
|
| | | | 271 | | | | | | 6 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 379 | | | |
EUR
|
| | | | 333 | | | | | | 12 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 508 | | | |
EUR
|
| | | | 446 | | | | | | 16 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 357 | | | |
EUR
|
| | | | 314 | | | | | | 12 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 539 | | | |
EUR
|
| | | | 474 | | | | | | 14 | | | | | | — | | |
|
Counterparty
|
| |
Contract
Settlement Date |
| |
Currency
to be Received |
| |
Value
|
| |
Currency
to be Delivered |
| |
Value
|
| |
Unrealized
Appreciation |
| |
Unrealized
Depreciation |
| ||||||||||||
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 364 | | | |
EUR
|
| | | | 320 | | | | | $ | 9 | | | | | $ | — | | |
|
State Street Bank and Trust Company
|
| |
12/19/2018
|
| |
USD
|
| | | | 1,035 | | | |
EUR
|
| | | | 910 | | | | | | 27 | | | | | | — | | |
|
State Street Bank and Trust Company
|
| |
12/19/2018
|
| |
USD
|
| | | | 364 | | | |
EUR
|
| | | | 320 | | | | | | 4 | | | | | | — | | |
|
State Street Bank and Trust Company
|
| |
12/19/2018
|
| |
USD
|
| | | | 434 | | | |
EUR
|
| | | | 381 | | | | | | 3 | | | | | | — | | |
|
State Street Bank and Trust Company
|
| |
12/19/2018
|
| |
USD
|
| | | | 572 | | | |
EUR
|
| | | | 503 | | | | | | 4 | | | | | | — | | |
|
State Street Bank and Trust Company
|
| |
12/19/2018
|
| |
USD
|
| | | | 830 | | | |
EUR
|
| | | | 729 | | | | | | 5 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 241 | | | |
EUR
|
| | | | 212 | | | | | | 3 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 423 | | | |
EUR
|
| | | | 372 | | | | | | 5 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 225 | | | |
EUR
|
| | | | 198 | | | | | | 7 | | | | | | — | | |
|
State Street Bank and Trust Company
|
| |
12/19/2018
|
| |
USD
|
| | | | 401 | | | |
EUR
|
| | | | 352 | | | | | | 10 | | | | | | — | | |
|
State Street Bank and Trust Company
|
| |
12/19/2018
|
| |
USD
|
| | | | 576 | | | |
EUR
|
| | | | 506 | | | | | | 17 | | | | | | — | | |
|
BNP Paribas Securities Co.
|
| |
12/19/2018
|
| |
USD
|
| | | | 471 | | | |
EUR
|
| | | | 414 | | | | | | 23 | | | | | | — | | |
|
BNP Paribas Securities Co.
|
| |
12/19/2018
|
| |
USD
|
| | | | 96 | | | |
EUR
|
| | | | 84 | | | | | | 5 | | | | | | — | | |
|
State Street Bank and Trust Company
|
| |
12/19/2018
|
| |
USD
|
| | | | 44 | | | |
EUR
|
| | | | 39 | | | | | | 2 | | | | | | — | | |
|
State Street Bank and Trust Company
|
| |
12/19/2018
|
| |
USD
|
| | | | 535 | | | |
EUR
|
| | | | 470 | | | | | | 27 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 373 | | | |
EUR
|
| | | | 328 | | | | | | 18 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 109 | | | |
EUR
|
| | | | 96 | | | | | | 5 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 69 | | | |
EUR
|
| | | | 61 | | | | | | 3 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 472 | | | |
EUR
|
| | | | 415 | | | | | | 23 | | | | | | — | | |
|
State Street Bank and Trust Company
|
| |
12/19/2018
|
| |
USD
|
| | | | 447 | | | |
EUR
|
| | | | 393 | | | | | | 24 | | | | | | — | | |
|
State Street Bank and Trust Company
|
| |
12/19/2018
|
| |
USD
|
| | | | 996 | | | |
EUR
|
| | | | 875 | | | | | | 52 | | | | | | — | | |
|
State Street Bank and Trust Company
|
| |
12/19/2018
|
| |
USD
|
| | | | 343 | | | |
EUR
|
| | | | 301 | | | | | | 16 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 196 | | | |
EUR
|
| | | | 172 | | | | | | 7 | | | | | | — | | |
|
State Street Bank and Trust Company
|
| |
12/19/2018
|
| |
USD
|
| | | | 365 | | | |
EUR
|
| | | | 321 | | | | | | 15 | | | | | | — | | |
|
State Street Bank and Trust Company
|
| |
12/19/2018
|
| |
USD
|
| | | | 390 | | | |
EUR
|
| | | | 343 | | | | | | 15 | | | | | | — | | |
|
State Street Bank and Trust Company
|
| |
12/19/2018
|
| |
USD
|
| | | | 543 | | | |
EUR
|
| | | | 477 | | | | | | 16 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 775 | | | |
EUR
|
| | | | 681 | | | | | | 24 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 338 | | | |
EUR
|
| | | | 297 | | | | | | 13 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 637 | | | |
EUR
|
| | | | 560 | | | | | | 24 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 274 | | | |
EUR
|
| | | | 241 | | | | | | 11 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 282 | | | |
EUR
|
| | | | 248 | | | | | | 11 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 513 | | | |
EUR
|
| | | | 451 | | | | | | 21 | | | | | | — | | |
|
Counterparty
|
| |
Contract
Settlement Date |
| |
Currency
to be Received |
| |
Value
|
| |
Currency
to be Delivered |
| |
Value
|
| |
Unrealized
Appreciation |
| |
Unrealized
Depreciation |
| ||||||||||||
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 2,268 | | | |
EUR
|
| | | | 1,993 | | | | | $ | 82 | | | | | $ | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
USD
|
| | | | 752 | | | |
EUR
|
| | | | 661 | | | | | | 29 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 35 | | | |
USD
|
| | | | 9 | | | | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 29 | | | |
USD
|
| | | | 8 | | | | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 6 | | | |
USD
|
| | | | 2 | | | | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 7 | | | |
USD
|
| | | | 2 | | | | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 94 | | | |
USD
|
| | | | 25 | | | | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 76 | | | |
USD
|
| | | | 20 | | | | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 8 | | | |
USD
|
| | | | 2 | | | | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 7 | | | |
USD
|
| | | | 2 | | | | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 35 | | | |
USD
|
| | | | 9 | | | | | | 1 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 43 | | | |
USD
|
| | | | 11 | | | | | | 1 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 35 | | | |
USD
|
| | | | 9 | | | | | | 1 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 48 | | | |
USD
|
| | | | 13 | | | | | | 1 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 40 | | | |
USD
|
| | | | 11 | | | | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 231 | | | |
USD
|
| | | | 62 | | | | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 282 | | | |
USD
|
| | | | 75 | | | | | | 1 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 119 | | | |
USD
|
| | | | 32 | | | | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 145 | | | |
USD
|
| | | | 39 | | | | | | 1 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
11/26/2018
|
| |
BRL
|
| | | | 130 | | | |
USD
|
| | | | 35 | | | | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
11/26/2018
|
| |
BRL
|
| | | | 158 | | | |
USD
|
| | | | 42 | | | | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 15 | | | |
USD
|
| | | | 4 | | | | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 18 | | | |
USD
|
| | | | 5 | | | | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 50 | | | |
USD
|
| | | | 13 | | | | | | 1 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 40 | | | |
USD
|
| | | | 11 | | | | | | 1 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 46 | | | |
USD
|
| | | | 12 | | | | | | 1 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 55 | | | |
USD
|
| | | | 15 | | | | | | 2 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 43 | | | |
USD
|
| | | | 11 | | | | | | 1 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 36 | | | |
USD
|
| | | | 10 | | | | | | 1 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 26 | | | |
USD
|
| | | | 7 | | | | | | 1 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 32 | | | |
USD
|
| | | | 9 | | | | | | 1 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 43 | | | |
USD
|
| | | | 11 | | | | | | 1 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 107 | | | |
USD
|
| | | | 29 | | | | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
BRL
|
| | | | 129 | | | |
USD
|
| | | | 34 | | | | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
EUR
|
| | | | 1,079 | | | |
USD
|
| | | | 1,228 | | | | | | — | | | | | | 22 | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
EUR
|
| | | | 796 | | | |
USD
|
| | | | 906 | | | | | | — | | | | | | 16 | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
EUR
|
| | | | 902 | | | |
USD
|
| | | | 1,026 | | | | | | — | | | | | | 19 | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
EUR
|
| | | | 570 | | | |
USD
|
| | | | 649 | | | | | | — | | | | | | 5 | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
EUR
|
| | | | 686 | | | |
USD
|
| | | | 780 | | | | | | — | | | | | | 7 | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
EUR
|
| | | | 1,393 | | | |
USD
|
| | | | 1,585 | | | | | | — | | | | | | 58 | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
EUR
|
| | | | 2,811 | | | |
USD
|
| | | | 3,198 | | | | | | — | | | | | | 116 | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
EUR
|
| | | | 2,094 | | | |
USD
|
| | | | 2,383 | | | | | | — | | | | | | 86 | | |
|
JPMorgan Chase Bank, N.A.
|
| |
12/19/2018
|
| |
EUR
|
| | | | 4,130 | | | |
USD
|
| | | | 4,699 | | | | | | — | | | | | | 39 | | |
|
Total Forward Foreign Currency Exchange Contracts
|
| | | $ | 665 | | | | | $ | 395 | | | |||||||||||||||||||||
|
|
Description
|
| |
Number of
Contracts |
| |
Position
|
| |
Expiration
Date |
| |
Notional
Amount |
| |
Unrealized
Appreciation |
| |
Unrealized
Depreciation |
| |||||||||
| Interest Rate Futures | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
U.S 10-Year Treasury Note
|
| |
33
|
| |
Short
|
| |
12/19/2018
|
| | | | 3,970 | | | | | $ | 62 | | | | | $ | — | | |
|
Total Interest Rate Futures
|
| | | | | | | | | | | | | | | | | | $ | 62 | | | | | | — | | |
|
Counterparty
|
| |
Fund Pays
|
| |
Fund
Receives |
| |
Notional
Amount of Currency Delivered |
| |
Notional
Amount of Currency Received |
| |
Expiration
Date |
| |
Period
Payment Frequency |
| |
Fair
Value(c) |
| |
Unrealized
Appreciation |
| |
Unrealized
Depreciation |
| ||||||||||||
|
JPMorgan Chase Bank, N.A.
|
| | 3 Month EURIBOR plus a spread of (0.19%) |
| |
3
Month USD LIBOR |
| |
EUR
5,312 |
| |
USD
6,038 |
| |
8/20/2023
|
| | | | Quarterly | | | | | $ | 26 | | | | | $ | 26 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| | 3 Month EURIBOR plus a spread of (0.16375%) |
| |
3
Month USD LIBOR |
| |
EUR
6,206 |
| |
USD
7,232 |
| |
7/20/2023
|
| | | | Quarterly | | | | | | 200 | | | | | | 200 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| | 3 Month EURIBOR plus a spread of (0.2335%) |
| |
3
Month USD LIBOR |
| |
EUR
963 |
| |
USD
1,123 |
| |
6/1/2023
|
| | | | Quarterly | | | | | | 35 | | | | | | 35 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| | 3 Month EURIBOR plus a spread of (0.195%) |
| |
3
Month USD LIBOR |
| |
EUR
3,162 |
| |
USD
3,642 |
| |
10/5/2023
|
| | | | Quarterly | | | | | | 64 | | | | | | 64 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| | 3 Month EURIBOR plus a spread of (0.33375%) |
| |
3
Month USD LIBOR |
| |
EUR
1,556 |
| |
USD
1,872 |
| |
1/16/2023
|
| | | | Quarterly | | | | | | 122 | | | | | | 122 | | | | | | — | | |
|
Total Cross-Currency Swaps
|
| | | $ | 447 | | | | | $ | 447 | | | | | | — | | |
|
Counterparty
|
| |
Fund
Pays |
| |
Fund
Receives |
| |
Notional
Amount |
| |
Expiration
Date |
| |
Period
Payment Frequency |
| |
Fair
Value(c) |
| |
Unrealized
Appreciation |
| |
Unrealized
Depreciation |
| ||||||||||||
|
JPMorgan Chase Bank, N.A.
|
| | | | 2.88% | | | |
3 Month LIBOR
|
| |
USD 1,204
|
| | | | 7/9/2023 | | | |
Semi-Annually
|
| |
$13
|
| | | $ | 13 | | | | | $ | — | | |
|
JPMorgan Chase Bank, N.A.
|
| | | | 2.98% | | | |
3 Month LIBOR
|
| |
USD 1,485
|
| | | | 3/4/2029 | | | |
Semi-Annually
|
| |
35
|
| | | | 35 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| | | | 3.23% | | | |
3 Month LIBOR
|
| |
USD 137
|
| | | | 4/29/2029 | | | |
Semi-Annually
|
| |
—
|
| | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| | | | 3.26% | | | |
3 Month LIBOR
|
| |
USD 49
|
| | | | 4/25/2029 | | | |
Semi-Annually
|
| |
—
|
| | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| | | | 3.25% | | | |
3 Month LIBOR
|
| |
USD 130
|
| | | | 4/26/2029 | | | |
Semi-Annually
|
| |
—
|
| | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| | | | 3.26% | | | |
3 Month LIBOR
|
| |
USD 166
|
| | | | 4/18/2029 | | | |
Semi-Annually
|
| |
—
|
| | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| | | | 3.26% | | | |
3 Month LIBOR
|
| |
USD 138
|
| | | | 4/26/2029 | | | |
Semi-Annually
|
| |
—
|
| | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| | | | 3.31% | | | |
3 Month LIBOR
|
| |
USD 136
|
| | | | 4/24/2029 | | | |
Semi-Annually
|
| |
(1)
|
| | | | — | | | | | | 1 | | |
|
JPMorgan Chase Bank, N.A.
|
| | | | 3.29% | | | |
3 Month LIBOR
|
| |
USD 280
|
| | | | 4/23/2029 | | | |
Semi-Annually
|
| |
(1)
|
| | | | — | | | | | | 1 | | |
|
JPMorgan Chase Bank, N.A.
|
| | | | 3.32% | | | |
3 Month LIBOR
|
| |
USD 981
|
| | | | 4/11/2029 | | | |
Semi-Annually
|
| |
(6)
|
| | | | — | | | | | | 6 | | |
|
JPMorgan Chase Bank, N.A.
|
| | | | 3.33% | | | |
3 Month LIBOR
|
| |
USD 74
|
| | | | 4/11/2029 | | | |
Semi-Annually
|
| |
(1)
|
| | | | — | | | | | | 1 | | |
|
JPMorgan Chase Bank, N.A.
|
| | | | 3.31% | | | |
3 Month LIBOR
|
| |
USD 246
|
| | | | 4/12/2029 | | | |
Semi-Annually
|
| |
(1)
|
| | | | — | | | | | | 1 | | |
|
JPMorgan Chase Bank, N.A.
|
| | | | 3.17% | | | |
3 Month LIBOR
|
| |
USD 498
|
| | | | 4/1/2029 | | | |
Semi-Annually
|
| |
4
|
| | | | 4 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| | | | 3.09% | | | |
3 Month LIBOR
|
| |
USD 16
|
| | | | 3/18/2029 | | | |
Semi-Annually
|
| |
—
|
| | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| | | | 3.08% | | | |
3 Month LIBOR
|
| |
USD 31
|
| | | | 3/18/2024 | | | |
Semi-Annually
|
| |
—
|
| | | | — | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| | | | 3.17% | | | |
3 Month LIBOR
|
| |
USD 217
|
| | | | 4/1/2029 | | | |
Semi-Annually
|
| |
2
|
| | | | 2 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| | | | 2.86% | | | |
3 Month LIBOR
|
| |
USD 864
|
| | | | 6/29/2023 | | | |
Semi-Annually
|
| |
10
|
| | | | 10 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| | | | 2.89% | | | |
3 Month LIBOR
|
| |
USD 648
|
| | | | 6/27/2023 | | | |
Semi-Annually
|
| |
7
|
| | | | 7 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| | | | 2.87% | | | |
3 Month LIBOR
|
| |
USD 1,512
|
| | | | 7/2/2023 | | | |
Semi-Annually
|
| |
17
|
| | | | 17 | | | | | | — | | |
|
JPMorgan Chase Bank, N.A.
|
| | | | 3.05% | | | |
3 Month LIBOR
|
| |
USD 189
|
| | | | 12/14/2048 | | | |
Semi-Annually
|
| |
9
|
| | | | 9 | | | | | | — | | |
|
Total Interest Rate Swaps
|
| |
$87
|
| | | $ | 97 | | | | | $ | 10 | | |
|
Counterparty
|
| |
Fund
Pays |
| |
Fund
Receives |
| |
Notional
Amount |
| |
Expiration
Date |
| |
Periodic
Payment Frequency |
| |
Fair
Value(c) |
| |
Unrealized
Appreciation |
| |
Unrealized
Depreciation |
| |||||||||
|
Bank of America,
N.A. |
| | SIFMA Municipal Swap Index plus a spread of 1.45% |
| | South Carolina State Housing Finance and Development Authority Multifamily Housing Revenue Bonds (Wyndham Pointe Apartments Project, 6.60%, 9/1/2048) Series 2004 |
| |
USD 362
|
| |
12/1/2021
|
| |
Monthly
|
| | | $ | 5 | | | | | $ | 5 | | | | | $ | — | | |
|
Bank of America,
N.A. |
| | SIFMA Municipal Swap Index plus a spread of 1.45% |
| | Texas Department of Housing and Community Affairs Multifamily Housing Revenue Bonds (Santora Villas Apartments, 5.80%, 5/1/2047) Series 2007 |
| |
USD 619
|
| |
6/1/2023
|
| |
Monthly
|
| | | | 3 | | | | | | 3 | | | | | | — | | |
|
Bank of America,
N.A. |
| | SIFMA Municipal Swap Index plus a spread of 1.45% |
| | City of Los Angeles Multifamily Housing Revenue Bonds (Lexington Preservation Apartments, 6.50%, 9/1/2043), Series 2005D |
| |
USD 439
|
| |
6/1/2022
|
| |
Monthly
|
| | | | 1 | | | | | | 1 | | | | | | — | | |
|
Bank of America,
N.A. |
| | SIFMA Municipal Swap Index plus a spread of 1.45% |
| | California Statewide Communities Development Authority Multifamily Housing Revenue Bonds (Parkview Senior Apartments Project, 5.75%, 2/1/2049), Series 2005U |
| |
USD 178
|
| |
9/1/2022
|
| |
Monthly
|
| | | | — | | | | | | — | | | | | | — | | |
|
Bank of America,
N.A. |
| | SIFMA Municipal Swap Index plus a spread of 1.30% |
| | District of Columbia Housing Finance Agency Multifamily Housing Revenue Bonds (Galen Terrace Apartments Project, 6.00%, 2/1/2049), Series 2006 |
| |
USD 221
|
| |
3/1/2022
|
| |
Monthly
|
| | | | — | | | | | | — | | | | | | — | | |
|
Bank of America,
N.A. |
| | SIFMA Municipal Swap Index plus a spread of 1.30% |
| | City of Los Angeles Multifamily Housing Revenue Bonds (Windward Preservation Apartments, 5.85%, 10/1/2044), Series 2006C |
| |
USD 403
|
| |
6/1/2023
|
| |
Monthly
|
| | | | — | | | | | | — | | | | | | — | | |
|
Bank of America,
N.A. |
| | SIFMA Municipal Swap Index plus a spread of 1.45% |
| | California Statewide Communities Development Authority Multifamily Housing Revenue Bonds (Rose of Sharon Senior Homes, 5.85%, 3/1/2045) Series 2006PP |
| |
USD 273
|
| |
6/1/2023
|
| |
Monthly
|
| | | | (1) | | | | | | — | | | | | | 1 | | |
|
Counterparty
|
| |
Fund
Pays |
| |
Fund
Receives |
| |
Notional
Amount |
| |
Expiration
Date |
| |
Periodic
Payment Frequency |
| |
Fair
Value(c) |
| |
Unrealized
Appreciation |
| |
Unrealized
Depreciation |
| |||||||||
|
Bank of America,
N.A. |
| | SIFMA Municipal Swap Index plus a spread of 1.30% |
| | California Statewide Communities Development Authority Multifamily Housing Revenue Bonds (La Mission Village Apartments Project, 5.75%, 6/1/2049), Series 2006Q |
| |
USD 223
|
| |
6/1/2023
|
| |
Monthly
|
| | | $ | (1) | | | | | $ | — | | | | | $ | 1 | | |
|
Bank of America,
N.A. |
| | SIFMA Municipal Swap Index plus a spread of 1.30% |
| | San Antonio Housing Finance Corporation Multifamily Housing Revenue Bonds (Artisan at Salado Heights, 5.80%, 5/1/2050), Series 2006 |
| |
USD 700
|
| |
6/1/2023
|
| |
Monthly
|
| | | | (1) | | | | | | — | | | | | | 1 | | |
|
Bank of America,
N.A. |
| | SIFMA Municipal Swap Index plus a spread of 1.45% |
| | Texas Department of Housing and Community Affairs Multifamily Housing Revenue Bonds (Churchill at Pinnacle Park, 6.55%, 7/1/ 2044), Series 2004 |
| |
USD 494
|
| |
9/1/2021
|
| |
Monthly
|
| | | | (1) | | | | | | — | | | | | | 1 | | |
|
Bank of America,
N.A. |
| | SIFMA Municipal Swap Index plus a spread of 1.45% |
| | District of Columbia Housing Finance Agency Multifamily Housing Revenue Bonds (Carver Apartments Project, 5.88%, 10/1/2049), Series 2006 |
| |
USD 369
|
| |
6/1/2023
|
| |
Monthly
|
| | | | (2) | | | | | | — | | | | | | 2 | | |
|
Bank of America,
N.A. |
| | SIFMA Municipal Swap Index plus a spread of 1.45% |
| | Louisiana Housing Finance Agency Multifamily Housing Revenue Bonds (The Crossings Apartments, 6.15%, 5/1/2048) Series 2006 |
| |
USD 374
|
| |
6/1/2023
|
| |
Monthly
|
| | | | (2) | | | | | | — | | | | | | 2 | | |
|
Bank of America,
N.A. |
| | SIFMA Municipal Swap Index plus a spread of 1.45% |
| | City of Roseville, Minnesota Multifamily Housing Revenue Bonds (Centennial Apartments Project, 5.75%, 1/1/2051) Series 2007 |
| |
USD 609
|
| |
9/1/2025
|
| |
Monthly
|
| | | | (2) | | | | | | — | | | | | | 2 | | |
|
Bank of America,
N.A. |
| | SIFMA Municipal Swap Index plus a spread of 1.30% |
| | Sacramento Housing Authority Multifamily Revenue Bonds (Willow Glen Apartments, 5.75%, 4/1/2056), Series 2007F |
| |
USD 247
|
| |
6/1/2023
|
| |
Monthly
|
| | | | (2) | | | | | | — | | | | | | 2 | | |
|
Bank of America,
N.A. |
| | SIFMA Municipal Swap Index plus a spread of 1.45% |
| | San Antonio Housing Finance Corporation Multifamily Housing Revenue Bonds (The Villas at Costa Cadiz, 6.50%, 1/1/2049) Series 2004 |
| |
USD 409
|
| |
12/1/2021
|
| |
Monthly
|
| | | | (2) | | | | | | — | | | | | | 2 | | |
|
Counterparty
|
| |
Fund
Pays |
| |
Fund
Receives |
| |
Notional
Amount |
| |
Expiration
Date |
| |
Periodic
Payment Frequency |
| |
Fair
Value(c) |
| |
Unrealized
Appreciation |
| |
Unrealized
Depreciation |
| |||||||||
|
Bank of America,
N.A. |
| | SIFMA Municipal Swap Index plus a spread of 1.45% |
| | San Antonio Housing Finance Corporation Multifamily Housing Revenue Bonds (Costa Miranda Apartments Project, 6.10%, 10/1/2050), Series 2006 |
| |
USD 601
|
| |
6/1/2023
|
| |
Monthly
|
| | | $ | (2) | | | | | $ | — | | | | | $ | 2 | | |
|
Bank of America,
N.A. |
| | SIFMA Municipal Swap Index plus a spread of 1.45% |
| | Massachusetts Development Finance Agency Housing Revenue Bonds (East Canton Apartments Project, 5.90%, 5/1/2055) Series 2006A |
| |
USD 587
|
| |
6/1/2023
|
| |
Monthly
|
| | | | (4) | | | | | | — | | | | | | 4 | | |
|
Bank of America,
N.A. |
| | SIFMA Municipal Swap Index plus a spread of 1.45% |
| | Houston Housing Finance Corporation Multifamily Housing Revenue Bonds (Kensington Place Apartments, 6.50%, 2/1/2048), Series 2004 |
| |
USD 631
|
| |
9/1/2021
|
| |
Monthly
|
| | | | (5) | | | | | | — | | | | | | 5 | | |
|
Total Total Return Debt Swaps
|
| | | $ | (16) | | | | | $ | 9 | | | | | $ | 25 | | | |||||||||||||||
|
|
Assumed Return on the Fund’s Portfolio (net of expenses)
|
| |
-10%
|
| |
-5%
|
| |
0%
|
| |
5%
|
| |
10%
|
| |||||||||||||||
|
Corresponding return to Shareholders
|
| | | | (11.3)% | | | | | | (5.8)% | | | | | | (0.3)% | | | | | | 5.2% | | | | | | 10.7% | | |
| (1) Title of Class |
| |
(2)
Amount Authorized |
| |
(3)
Account Held by the Fund or for its Account |
| |
(4)
Amount Outstanding Exclusive of Amount Under Column (3) |
| |||||||||
|
Common shares of beneficial interest, par value $0.001 per share
|
| | | | Unlimited | | | | | | — | | | | | | 14,448,609 | | |
|
Class A Shares
|
| | | | Unlimited | | | | | | — | | | | | | 655,370 | | |
|
Class I Shares
|
| | | | Unlimited | | | | | | — | | | | | | 13,763,230 | | |
|
Class L Shares
|
| | | | Unlimited | | | | | | — | | | | | | — | | |
|
Class M Shares
|
| | | | Unlimited | | | | | | — | | | | | | — | | |
|
Class T Shares
|
| | | | Unlimited | | | | | | — | | | | | | 30,009 | | |
|
Class U Shares
|
| | | | Unlimited | | | | | | — | | | | | | — | | |
|
Amount Purchased
|
| |
Dealer
Reallowance* |
| |
Dealer
Manager Fee |
| |
Sales Load as a
% of Offering Price |
| |
Sales Load as a
% of Amount Invested |
| ||||||||||||
|
Under $100,000
|
| | | | 5.00% | | | | | | 0.75% | | | | | | 5.75% | | | | | | 6.10% | | |
|
$100,000 – $249,999
|
| | | | 4.00% | | | | | | 0.75% | | | | | | 4.75% | | | | | | 4.99% | | |
|
$250,000 – $499,999
|
| | | | 3.00% | | | | | | 0.75% | | | | | | 3.75% | | | | | | 3.90% | | |
|
$500,000 – $999,999
|
| | | | 2.00% | | | | | | 0.50% | | | | | | 2.50% | | | | | | 2.56% | | |
|
$1,000,000 and Above
|
| | | | 1.00% | | | | | | 0.50% | | | | | | 1.50% | | | | | | 1.52% | | |
|
Amount Purchased
|
| |
Sales Load as a
% of Offering Price* |
| |
Sales Load as a
% of Amount Invested |
| ||||||
|
Under $250,000
|
| | | | 3.50% | | | | | | 3.63% | | |
|
$250,000 – $499,999
|
| | | | 2.50% | | | | | | 2.56% | | |
|
$500,000 – $999,999
|
| | | | 1.50% | | | | | | 1.52% | | |
|
$1,000,000 and Above
|
| | | | None | | | | | | None | | |
|
Amount Purchased
|
| |
Sales Load as a
% of Offering Price* |
| |
Sales Load as a
% of Amount Invested |
| ||||||
|
Under $250,000
|
| | | | 3.50% | | | | | | 3.63% | | |
|
$250,000 – $499,999
|
| | | | 2.50% | | | | | | 2.56% | | |
|
$500,000 – $999,999
|
| | | | 1.50% | | | | | | 1.52% | | |
|
$1,000,000 and Above
|
| | | | None | | | | | | None | | |
| | | |
Page
|
|
| | | | ||
| | | | ||
| | | | ||
| | | | ||
| | | | ||
| | | | ||
| | | | ||
| | | | ||
| | | | ||
| | | | ||
| | | | ||
| | | |
| | | |
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|
|
| | | | ||
| | | | ||
| | | | ||
| | | | ||
| | | | ||
| | | | ||
| | | | ||
| | | | ||
| | | | ||
| | | | ||
| | | | ||
| | | |
|
Name
|
| |
Age
|
| |
Trustee Since
|
| |
Title
|
| |
Principal
Occupation(s) During the Past Five Years |
| |
Number of
Registered Investment Companies in Fund Complex* Overseen by Trustee |
| |
Other Directorships
Held by Trustee |
|
| Interested Trustees | | | | | | | | | | | | | | | | | |||
|
Michael C. Forman(1)
|
| |
58
|
| |
October 2016
|
| | Chairman | | | Chairman and Chief Executive Officer of FS Investments | | |
10
|
| | FS Multi-Alternative Income Fund (since 2018); FS Series Trust (since 2016); FS Energy Total Return Fund (since 2016); FS Credit Real Estate Income Trust, Inc. (since 2016); FS Investment Corporation IV (since 2015); FS Global Credit Opportunities Fund (since 2013 and including its affiliated feeder funds); FS Investment Corporation III (since 2013); FS Investment Corporation II (since 2011); FS Energy and Power Fund (since 2010); and FS KKR Capital Corp. (formerly FS Investment Corporation) (since 2007) | |
|
Steven Shapiro(2)
|
| |
51
|
| |
September 2017
|
| | Trustee | | | Partner and Executive Committee Member of GoldenTree Asset Management | | |
1
|
| | None | |
| Independent Trustees | | | | | | | | | | | | | | | | | |||
|
Holly E. Flanagan
|
| |
47
|
| |
September 2017
|
| | Trustee | | | Managing Director of Gabriel Investments (since 2013) | | |
3
|
| | FS Multi-Alternative Income Fund (since 2018); FS Energy Total Return Fund (since 2017) | |
| Brian R. Ford | | |
70
|
| |
September 2017
|
| | Trustee | | | Partner of Ernst & Young LLP (1971 – 2008) | | |
3
|
| | FS KKR Capital Corp. (since 2018); FS Investment Corporation II (since 2018); FS Investment Corporation IV (since 2018); FS Multi-Alternative Income Fund (since 2018); FS Energy Total Return Fund (since 2016); FS Investment) Corporation III (since 2013); Clearway Energy Inc. (formerly NRG Yield, Inc.) (since 2013); and AmeriGas Propane, Inc. (since 2013) | |
|
Daniel J. Hilferty III
|
| |
62
|
| |
March 2019
|
| | Trustee | | | Chief Executive Officer of Independence Health Group (since 2010) | | |
3
|
| | FS Multi-Alternative Income Fund (since March 2019); FS Energy Total Return Fund (since March 2019); Aqua America, Inc. (since June 2017) | |
|
Name
|
| |
Age
|
| |
Position Held with
Registrant |
| |
Length of
Time Served |
| |
Principal Occupation(s)
During the Past Five Years |
|
| Michael C. Forman | | |
58
|
| | Chief Executive Officer & President | | |
Since 2016
|
| | Chairman and Chief Executive Officer, FS Investments | |
| Edward T. Gallivan, Jr. | | |
57
|
| | Chief Financial Officer & Treasurer | | |
Since 2017
|
| | Chief Financial Officer, FS Energy and Power Fund, FS Multi-Alternative Income Fund, FS Energy Total Return Fund, FS Global Credit Opportunities Fund and its affiliated feeder funds, FS Credit Real Estate Income Trust, Inc. | |
| Stephen S. Sypherd | | |
42
|
| | General Counsel & Secretary | | |
Since 2016
|
| | General Counsel, FS Investments | |
|
Name
|
| |
Age
|
| |
Position Held with
Registrant |
| |
Length of
Time Served |
| |
Principal Occupation(s)
During the Past Five Years |
|
| James F. Volk | | |
56
|
| | Chief Compliance Officer | | |
Since 2016
|
| | Managing Director, Fund Compliance, FS Investments; and Chief Compliance Officer, Chief Accounting Officer and Head of Traditional Fund Operations at SEI’s Investment Manager Services market unit (1996 – 2014) | |
|
Net Assets Under Management
|
| |
Annual
Cash Retainer |
| |
Board and
Committee Meeting Fee(1) |
| |
Annual Committee Chair
Cash Retainer |
| |||||||||||||||
|
Audit
|
| |
Nominating and
Corporate Governance |
| |||||||||||||||||||||
|
$0 to $200 million
|
| | | | — | | | | | $ | 1,000 | | | | | $ | 5,000 | | | | | $ | 1,200 | | |
|
$200 million to $500 million
|
| | | $ | 10,000 | | | | | $ | 1,000 | | | | | $ | 6,500 | | | | | $ | 2,600 | | |
|
$500 million to $2 billion
|
| | | $ | 25,000 | | | | | $ | 1,000 | | | | | $ | 8,000 | | | | | $ | 3,200 | | |
|
$2 billion to $5 billion
|
| | | $ | 50,000 | | | | | $ | 1,000 | | | | | $ | 11,000 | | | | | $ | 4,400 | | |
|
$5 billion to $10 billion
|
| | | $ | 100,000 | | | | | $ | 1,000 | | | | | $ | 15,000 | | | | | $ | 6,000 | | |
|
> $10 billion
|
| | | $ | 250,000 | | | | | $ | 1,000 | | | | | $ | 25,000 | | | | | $ | 10,000 | | |
|
Name
|
| |
Dollar Range of Equity
Securities in the Fund(1)(2) |
| |
Aggregate Dollar Range of Equity
Securities in All Registered Investment Companies Overseen by Trustees in Family of Investment Companies(1)(2) |
|
| Interested Trustees | | | | | | | |
|
Michael C. Forman
|
| |
Over $100,000
|
| |
Over $100,000
|
|
|
Steven Shapiro
|
| |
Over $100,000
|
| |
Over $100,000
|
|
| Independent Trustees | | | | | | | |
|
Holly E. Flanagan
|
| |
None
|
| |
None
|
|
|
Brian R. Ford
|
| |
$10,001 – $50,000
|
| |
$50,001 – $100,000
|
|
|
Daniel J. Hilferty III
|
| |
None
|
| |
None
|
|
| | | |
Management
Fees |
| |
Waivers
|
| |
Reimbursements
|
| |
Management Fees
Paid (After Waivers and Reimbursements) |
| ||||||||||||
|
Investment Adviser
|
| | | $ | 1,006.5 | | | | | | — | | | | | $ | 697.7 | | | | | $ | 308.8 | | |
| Sub-Adviser(1) | | | | $ | 479.8 | | | | | $ | 119.0 | | | | | | — | | | | | $ | 360.8 | | |
| | | |
Number of
Accounts |
| |
Assets of
Accounts (in thousands) |
| |
Number of
Accounts Subject to a Performance Fee |
| |
Assets Subject to a
Performance Fee (in thousands) |
| ||||||||||||
| Michael Kelly | | | | | | | | | | | | | | | | | | | | | | | | | |
|
Registered Investment Companies
|
| | | | 3 | | | | | $ | 192,098(1) | | | | | | — | | | | | | — | | |
|
Other Pooled Investment Vehicles
|
| | | | 8 | | | | | $ | 20,842,249 | | | | | | 8 | | | | | $ | 20,842,249 | | |
|
Other Accounts
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | |
Number of
Accounts |
| |
Assets of
Accounts (in thousands) |
| |
Number of
Accounts Subject to a Performance Fee |
| |
Assets Subject to a
Performance Fee (in thousands) |
| ||||||||||||
| Kenneth Miller | | | | | | | | | | | | | | | | | | | | | | | | | |
|
Registered Investment Companies
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
|
Other Pooled Investment Vehicles
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
|
Other Accounts
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| Daniel Picard | | | | | | | | | | | | | | | | | | | | | | | | | |
|
Registered Investment Companies
|
| | | | 1 | | | | | $ | 40,664 | | | | | | — | | | | | | — | | |
|
Other Pooled Investment Vehicles
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
|
Other Accounts
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| Brian Norcross | | | | | | ||||||||||||||||||||
|
Registered Investment Companies
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
|
Other Pooled Investment Vehicles
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
|
Other Accounts
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
|
Name of Investment Committee Member
|
| |
Dollar Range of Equity
Securities in the Fund(1) |
|
|
Michael Kelly
|
| |
Over $1,000,000
|
|
|
Kenneth Miller
|
| |
$100,001 – $500,000
|
|
|
Brian Norcross
|
| |
None
|
|
|
Daniel Picard
|
| |
None
|
|
|
Class I
|
| |||||||||
|
Name and Address
|
| |
Percentage
Owned |
| |
Type of
Ownership |
| |||
| Charles Schwab & Co. Inc. Special Custody A/C FBO Customers Attn: Mutual Funds 211 Main Street San Francisco, CA 94105-1905 |
| | | | 44.97% | | | | Record | |
| David J. Adelman 201 Rouse Boulevard Philadelphia, PA 19112 |
| | | | 21.36% | | | | Beneficial | |
| Michael C. Forman 201 Rouse Boulevard Philadelphia, PA 19112 |
| | | | 21.36% | | | | Beneficial | |
|
MCFDA FSCIF LLC
201 Rouse Boulevard Philadelphia, PA 19112 |
| | | | 0.99% | | | |
Record and
Beneficial |
|
| | | 11.13% | | | | Beneficial | | |||
| Darco Capital, LP 201 Rouse Boulevard Philadelphia, PA 19112 |
| | | | 12.12% | | | | Beneficial | |
| Darco Capital GP LLC 201 Rouse Boulevard Philadelphia, PA 19112 |
| | | | 12.12% | | | | Beneficial | |
| The Forman 2011 Investment Trust 201 Rouse Boulevard Philadelphia, PA 19112 |
| | | | 12.12% | | | | Beneficial | |
| FB Capital Partners, LP 201 Rouse Boulevard Philadelphia, PA 19112 |
| | | | 12.12% | | | | Beneficial | |
|
Class I
|
| |||||||||
|
Name and Address
|
| |
Percentage
Owned |
| |
Type of
Ownership |
| |||
| FB Capital Management, LLC 201 Rouse Boulevard Philadelphia, PA 19112 |
| | | | 12.12% | | | | Beneficial | |
| FSCIF SCV Feeder I LLC 201 Rouse Boulevard Philadelphia, PA 19112 |
| | | | 9.23% | | | | Beneficial | |
|
Franklin Square Holdings, L.P.
201 Rouse Boulevard Philadelphia, PA 19112 |
| | | | 0.01% | | | |
Record and Beneficial
|
|
| | | 9.23% | | | | Beneficial | | |||
| National Financial Services LLC 499 Washington Blvd. Jersey City, NJ 07310-1995 |
| | | | 10.79% | | | | Record | |
| GTAM TS Investments LLC 300 Park Avenue, 21st Floor New York, N.Y. 10022 |
| | | | 5.16% | | | | Record | |
|
Class A
|
| |||||||||
|
Name and Address
|
| |
Percentage
Owned |
| |
Type of
Ownership |
| |||
| National Financial Services LLC 499 Washington Blvd. Jersey City, NJ 07310-1995 |
| | | | 37.20% | | | | Record | |
| Pershing LLC P.O. Box 2052 Jersey City, NJ 07303-2052 |
| | | | 6.90% | | | | Record | |
|
Class T
|
| |||||||||
|
Name and Address
|
| |
Percentage
Owned |
| |
Type of
Ownership |
| |||
| Pershing LLC P.O. Box 2052 Jersey City, NJ 07303-2052 |
| | | | 90.49% | | | | Record | |