Select High Yield ETF - Schedule of Investments | ||
MAY 31, 2023 (UNAUDITED) |
Principal Amount ($)/ Shares | Value ($) | |||||||
CORPORATE BONDS — 95.5% | ||||||||
Aerospace and Defense — 2.4% | ||||||||
Bombardier, Inc., 7.875%, 4/15/27(1)(2) | 50,000 | 49,494 | ||||||
Howmet Aerospace, Inc., 5.95%, 2/1/37 | 50,000 | 50,067 | ||||||
Spirit AeroSystems, Inc., 7.50%, 4/15/25(1) | 47,000 | 46,480 | ||||||
Spirit AeroSystems, Inc., 9.375%, 11/30/29(1) | 37,000 | 39,456 | ||||||
TransDigm, Inc., 6.25%, 3/15/26(1) | 117,000 | 116,304 | ||||||
TransDigm, Inc., 6.375%, 6/15/26 | 70,000 | 69,253 | ||||||
TransDigm, Inc., 7.50%, 3/15/27 | 47,000 | 46,936 | ||||||
TransDigm, Inc., 5.50%, 11/15/27 | 186,000 | 175,048 | ||||||
TransDigm, Inc., 4.875%, 5/1/29 | 95,000 | 84,554 | ||||||
677,592 | ||||||||
Air Freight and Logistics — 0.2% | ||||||||
Rand Parent LLC, 8.50%, 2/15/30(1)(2) | 50,000 | 43,219 | ||||||
Western Global Airlines LLC, 10.375%, 8/15/25(1) | 47,000 | 3,172 | ||||||
46,391 | ||||||||
Automobile Components — 1.7% | ||||||||
Adient Global Holdings Ltd., 4.875%, 8/15/26(1) | 200,000 | 189,508 | ||||||
Clarios Global LP, 6.75%, 5/15/25(1) | 47,000 | 47,157 | ||||||
Clarios Global LP / Clarios US Finance Co., 6.25%, 5/15/26(1) | 50,000 | 49,540 | ||||||
Goodyear Tire & Rubber Co., 9.50%, 5/31/25 | 70,000 | 71,632 | ||||||
Goodyear Tire & Rubber Co., 5.00%, 5/31/26(2) | 70,000 | 68,331 | ||||||
Patrick Industries, Inc., 4.75%, 5/1/29(1) | 47,000 | 40,198 | ||||||
466,366 | ||||||||
Automobiles — 2.6% | ||||||||
Ford Motor Co., 3.25%, 2/12/32 | 122,000 | 92,814 | ||||||
Ford Motor Co., 6.10%, 8/19/32 | 103,000 | 96,912 | ||||||
Ford Motor Credit Co. LLC, 4.13%, 8/4/25 | 200,000 | 189,581 | ||||||
Ford Motor Credit Co. LLC, 3.82%, 11/2/27 | 200,000 | 177,766 | ||||||
Ford Motor Credit Co. LLC, 5.11%, 5/3/29 | 200,000 | 183,303 | ||||||
740,376 | ||||||||
Beverages — 0.1% | ||||||||
Primo Water Holdings, Inc., 4.375%, 4/30/29(1) | 47,000 | 40,494 | ||||||
Broadline Retail — 0.2% | ||||||||
Macy's Retail Holdings LLC, 5.875%, 4/1/29(1) | 47,000 | 41,608 | ||||||
Building Products — 1.4% | ||||||||
Builders FirstSource, Inc., 4.25%, 2/1/32(1) | 117,000 | 100,629 | ||||||
Griffon Corp., 5.75%, 3/1/28 | 100,000 | 92,345 | ||||||
Masonite International Corp., 3.50%, 2/15/30(1) | 47,000 | 39,552 | ||||||
PGT Innovations, Inc., 4.375%, 10/1/29(1)(2) | 47,000 | 42,960 | ||||||
Standard Industries, Inc., 4.375%, 7/15/30(1) | 93,000 | 78,622 | ||||||
Standard Industries, Inc., 3.375%, 1/15/31(1) | 47,000 | 36,763 | ||||||
390,871 | ||||||||
Capital Markets — 1.5% | ||||||||
Compass Group Diversified Holdings LLC, 5.25%, 4/15/29(1) | 47,000 | 41,564 | ||||||
Icahn Enterprises LP / Icahn Enterprises Finance Corp., 4.75%, 9/15/24(2) | 70,000 | 65,579 | ||||||
Icahn Enterprises LP / Icahn Enterprises Finance Corp., 6.25%, 5/15/26 | 70,000 | 61,420 | ||||||
Icahn Enterprises LP / Icahn Enterprises Finance Corp., 5.25%, 5/15/27 | 117,000 | 96,552 | ||||||
LCM Investments Holdings II LLC, 4.875%, 5/1/29(1) | 47,000 | 39,251 |
MSCI, Inc., 3.625%, 9/1/30(1) | 126,000 | 108,224 | ||||||
412,590 | ||||||||
Chemicals — 2.1% | ||||||||
Avient Corp., 5.75%, 5/15/25(1) | 47,000 | 46,824 | ||||||
Chemours Co., 5.75%, 11/15/28(1) | 50,000 | 44,072 | ||||||
FXI Holdings, Inc., 12.25%, 11/15/26(1)(2) | 47,000 | 43,357 | ||||||
NOVA Chemicals Corp., 4.875%, 6/1/24(1) | 70,000 | 68,438 | ||||||
NOVA Chemicals Corp., 5.25%, 6/1/27(1) | 47,000 | 42,485 | ||||||
Olin Corp., 5.00%, 2/1/30 | 47,000 | 42,885 | ||||||
SCIH Salt Holdings, Inc., 4.875%, 5/1/28(1) | 47,000 | 41,692 | ||||||
SCIH Salt Holdings, Inc., 6.625%, 5/1/29(1) | 47,000 | 38,983 | ||||||
Trinseo Materials Operating SCA / Trinseo Materials Finance, Inc., 5.375%, 9/1/25(1) | 70,000 | 55,197 | ||||||
Trinseo Materials Operating SCA / Trinseo Materials Finance, Inc., 5.125%, 4/1/29(1) | 47,000 | 25,481 | ||||||
Tronox, Inc., 4.625%, 3/15/29(1) | 47,000 | 38,204 | ||||||
WR Grace Holdings LLC, 4.875%, 6/15/27(1) | 67,000 | 62,223 | ||||||
WR Grace Holdings LLC, 5.625%, 8/15/29(1) | 47,000 | 39,073 | ||||||
588,914 | ||||||||
Commercial Services and Supplies — 2.2% | ||||||||
ADT Security Corp., 4.125%, 8/1/29(1) | 47,000 | 41,075 | ||||||
ADT Security Corp., 4.875%, 7/15/32(1) | 103,000 | 87,903 | ||||||
Allied Universal Holdco LLC / Allied Universal Finance Corp., 6.625%, 7/15/26(1) | 70,000 | 65,822 | ||||||
Brink's Co., 4.625%, 10/15/27(1) | 70,000 | 65,377 | ||||||
GFL Environmental, Inc., 4.00%, 8/1/28(1)(2) | 50,000 | 44,693 | ||||||
Matthews International Corp., 5.25%, 12/1/25(1) | 117,000 | 111,562 | ||||||
Metis Merger Sub LLC, 6.50%, 5/15/29(1) | 47,000 | 39,660 | ||||||
Prime Security Services Borrower LLC / Prime Finance, Inc., 3.375%, 8/31/27(1) | 47,000 | 41,325 | ||||||
Prime Security Services Borrower LLC / Prime Finance, Inc., 6.25%, 1/15/28(1)(2) | 128,000 | 117,698 | ||||||
615,115 | ||||||||
Communications Equipment — 0.3% | ||||||||
CommScope, Inc., 6.00%, 3/1/26(1) | 70,000 | 65,822 | ||||||
CommScope, Inc., 4.75%, 9/1/29(1) | 36,000 | 28,400 | ||||||
94,222 | ||||||||
Construction and Engineering — 0.3% | ||||||||
New Enterprise Stone & Lime Co., Inc., 5.25%, 7/15/28(1) | 88,000 | 77,988 | ||||||
Construction Materials — 0.2% | ||||||||
Smyrna Ready Mix Concrete LLC, 6.00%, 11/1/28(1) | 70,000 | 65,199 | ||||||
Consumer Finance — 2.0% | ||||||||
Castlelake Aviation Finance DAC, 5.00%, 4/15/27(1)(2) | 50,000 | 44,281 | ||||||
Global Aircraft Leasing Co. Ltd., 6.50% Cash or 7.25% PIK, 9/15/24(1) | 144,723 | 129,323 | ||||||
Navient Corp., 7.25%, 9/25/23 | 65,000 | 64,958 | ||||||
Navient Corp., 5.875%, 10/25/24 | 47,000 | 46,013 | ||||||
Navient Corp., 6.75%, 6/25/25 | 47,000 | 45,528 | ||||||
Navient Corp., 5.50%, 3/15/29 | 47,000 | 38,947 | ||||||
OneMain Finance Corp., 6.125%, 3/15/24 | 70,000 | 68,466 | ||||||
OneMain Finance Corp., 6.875%, 3/15/25 | 117,000 | 112,885 | ||||||
550,401 | ||||||||
Consumer Staples Distribution & Retail — 0.6% | ||||||||
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC, 4.625%, 1/15/27(1) | 47,000 | 44,731 | ||||||
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC, 5.875%, 2/15/28(1) | 47,000 | 45,978 | ||||||
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC, 6.50%, 2/15/28(1) | 50,000 | 49,738 | ||||||
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC, 3.50%, 3/15/29(1) | 47,000 | 40,946 | ||||||
181,393 | ||||||||
Containers and Packaging — 1.4% | ||||||||
Ball Corp., 4.875%, 3/15/26 | 50,000 | 48,963 |
Ball Corp., 3.125%, 9/15/31 | 47,000 | 38,771 | ||||||
Berry Global, Inc., 4.50%, 2/15/26(1)(2) | 70,000 | 67,487 | ||||||
Berry Global, Inc., 4.875%, 7/15/26(1) | 47,000 | 45,532 | ||||||
LABL, Inc., 9.50%, 11/1/28(1) | 50,000 | 50,284 | ||||||
OI European Group BV, 4.75%, 2/15/30(1) | 47,000 | 42,536 | ||||||
Sealed Air Corp., 5.125%, 12/1/24(1) | 70,000 | 69,466 | ||||||
TriMas Corp., 4.125%, 4/15/29(1) | 47,000 | 41,794 | ||||||
404,833 | ||||||||
Distributors — 0.3% | ||||||||
Performance Food Group, Inc., 5.50%, 10/15/27(1) | 47,000 | 45,269 | ||||||
Performance Food Group, Inc., 4.25%, 8/1/29(1) | 47,000 | 41,550 | ||||||
86,819 | ||||||||
Diversified Consumer Services — 0.4% | ||||||||
Adtalem Global Education, Inc., 5.50%, 3/1/28(1) | 37,000 | 34,622 | ||||||
Service Corp. International, 3.375%, 8/15/30 | 47,000 | 39,178 | ||||||
Service Corp. International, 4.00%, 5/15/31 | 47,000 | 40,168 | ||||||
113,968 | ||||||||
Diversified REITs — 1.7% | ||||||||
CTR Partnership LP / CareTrust Capital Corp., 3.875%, 6/30/28(1) | 47,000 | 40,474 | ||||||
HAT Holdings I LLC / HAT Holdings II LLC, 3.375%, 6/15/26(1) | 47,000 | 41,179 | ||||||
MPT Operating Partnership LP / MPT Finance Corp., 4.625%, 8/1/29 | 108,000 | 80,747 | ||||||
MPT Operating Partnership LP / MPT Finance Corp., 3.50%, 3/15/31 | 50,000 | 33,812 | ||||||
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co.-Issuer, 7.50%, 6/1/25(1) | 70,000 | 70,080 | ||||||
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co.-Issuer, 5.875%, 10/1/28(1) | 47,000 | 43,005 | ||||||
RLJ Lodging Trust LP, 3.75%, 7/1/26(1) | 47,000 | 42,876 | ||||||
RLJ Lodging Trust LP, 4.00%, 9/15/29(1)(2) | 47,000 | 39,364 | ||||||
Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC, 10.50%, 2/15/28(1) | 50,000 | 48,556 | ||||||
Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC, 4.75%, 4/15/28(1) | 47,000 | 37,733 | ||||||
477,826 | ||||||||
Diversified Telecommunication Services — 2.6% | ||||||||
Altice France SA, 5.125%, 7/15/29(1) | 200,000 | 142,595 | ||||||
Cogent Communications Group, Inc., 7.00%, 6/15/27(1) | 50,000 | 48,093 | ||||||
Connect Finco Sarl / Connect US Finco LLC, 6.75%, 10/1/26(1) | 127,000 | 122,604 | ||||||
Embarq Corp., 8.00%, 6/1/36 | 70,000 | 34,888 | ||||||
Level 3 Financing, Inc., 4.25%, 7/1/28(1) | 93,000 | 53,596 | ||||||
Level 3 Financing, Inc., 3.625%, 1/15/29(1) | 122,000 | 66,031 | ||||||
Level 3 Financing, Inc., 3.75%, 7/15/29(1) | 96,000 | 52,092 | ||||||
Sprint Capital Corp., 6.875%, 11/15/28 | 47,000 | 50,288 | ||||||
Sprint Capital Corp., 8.75%, 3/15/32 | 35,000 | 42,554 | ||||||
Telecom Italia Capital SA, 6.00%, 9/30/34 | 47,000 | 39,603 | ||||||
Telecom Italia Capital SA, 7.20%, 7/18/36 | 47,000 | 41,939 | ||||||
Zayo Group Holdings, Inc., 4.00%, 3/1/27(1)(2) | 70,000 | 48,977 | ||||||
743,260 | ||||||||
Electric Utilities — 1.6% | ||||||||
NextEra Energy Operating Partners LP, 3.875%, 10/15/26(1) | 85,000 | 78,642 | ||||||
NRG Energy, Inc., 6.625%, 1/15/27 | 19,000 | 18,969 | ||||||
NRG Energy, Inc., 3.625%, 2/15/31(1) | 133,000 | 104,981 | ||||||
PG&E Corp., 5.00%, 7/1/28(2) | 47,000 | 43,396 | ||||||
PG&E Corp., 5.25%, 7/1/30 | 47,000 | 42,524 | ||||||
Vistra Operations Co. LLC, 5.625%, 2/15/27(1) | 70,000 | 67,399 | ||||||
Vistra Operations Co. LLC, 5.00%, 7/31/27(1) | 70,000 | 65,855 | ||||||
Vistra Operations Co. LLC, 4.375%, 5/1/29(1) | 47,000 | 41,008 | ||||||
462,774 | ||||||||
Electrical Equipment — 0.4% | ||||||||
Atkore, Inc., 4.25%, 6/1/31(1) | 70,000 | 59,927 |
WESCO Distribution, Inc., 7.125%, 6/15/25(1) | 25,000 | 25,206 | ||||||
WESCO Distribution, Inc., 7.25%, 6/15/28(1) | 19,000 | 19,437 | ||||||
104,570 | ||||||||
Electronic Equipment, Instruments and Components — 0.8% | ||||||||
Imola Merger Corp., 4.75%, 5/15/29(1) | 140,000 | 120,591 | ||||||
Sensata Technologies, Inc., 4.375%, 2/15/30(1) | 117,000 | 104,640 | ||||||
225,231 | ||||||||
Energy Equipment and Services — 2.1% | ||||||||
Archrock Partners LP / Archrock Partners Finance Corp., 6.875%, 4/1/27(1) | 47,000 | 44,975 | ||||||
Archrock Partners LP / Archrock Partners Finance Corp., 6.25%, 4/1/28(1) | 70,000 | 65,022 | ||||||
Bristow Group, Inc., 6.875%, 3/1/28(1) | 70,000 | 65,364 | ||||||
Enerflex Ltd., 9.00%, 10/15/27(1)(2) | 50,000 | 48,697 | ||||||
Nabors Industries, Inc., 7.375%, 5/15/27(1) | 47,000 | 44,208 | ||||||
Precision Drilling Corp., 6.875%, 1/15/29(1)(2) | 78,000 | 69,934 | ||||||
Shelf Drilling Holdings Ltd., 8.25%, 2/15/25(1) | 50,000 | 45,781 | ||||||
Transocean Poseidon Ltd., 6.875%, 2/1/27(1) | 20,313 | 19,859 | ||||||
Transocean, Inc., 7.25%, 11/1/25(1) | 50,000 | 47,053 | ||||||
USA Compression Partners LP / USA Compression Finance Corp., 6.875%, 9/1/27 | 47,000 | 44,071 | ||||||
Weatherford International Ltd., 8.625%, 4/30/30(1) | 97,000 | 97,565 | ||||||
592,529 | ||||||||
Entertainment — 1.0% | ||||||||
Cinemark USA, Inc., 5.875%, 3/15/26(1) | 47,000 | 44,724 | ||||||
Cinemark USA, Inc., 5.25%, 7/15/28(1)(2) | 47,000 | 41,202 | ||||||
Live Nation Entertainment, Inc., 4.75%, 10/15/27(1) | 70,000 | 64,941 | ||||||
Playtika Holding Corp., 4.25%, 3/15/29(1) | 47,000 | 39,909 | ||||||
WMG Acquisition Corp., 3.875%, 7/15/30(1) | 47,000 | 40,208 | ||||||
WMG Acquisition Corp., 3.00%, 2/15/31(1)(2) | 47,000 | 37,957 | ||||||
268,941 | ||||||||
Financial Services — 2.1% | ||||||||
Freedom Mortgage Corp., 8.125%, 11/15/24(1) | 25,000 | 24,534 | ||||||
Freedom Mortgage Corp., 7.625%, 5/1/26(1) | 70,000 | 61,250 | ||||||
Freedom Mortgage Corp., 6.625%, 1/15/27(1) | 47,000 | 39,059 | ||||||
Jefferson Capital Holdings LLC, 6.00%, 8/15/26(1) | 47,000 | 37,881 | ||||||
Kinetik Holdings LP, 5.875%, 6/15/30(1) | 50,000 | 47,428 | ||||||
MGIC Investment Corp., 5.25%, 8/15/28 | 70,000 | 66,309 | ||||||
MPH Acquisition Holdings LLC, 5.50%, 9/1/28(1) | 70,000 | 55,881 | ||||||
Nationstar Mortgage Holdings, Inc., 5.50%, 8/15/28(1) | 47,000 | 40,711 | ||||||
NMI Holdings, Inc., 7.375%, 6/1/25(1) | 47,000 | 47,134 | ||||||
Paysafe Finance PLC / Paysafe Holdings US Corp., 4.00%, 6/15/29(1)(2) | 47,000 | 38,158 | ||||||
PennyMac Financial Services, Inc., 4.25%, 2/15/29(1) | 47,000 | 37,841 | ||||||
Radian Group, Inc., 4.875%, 3/15/27 | 47,000 | 44,943 | ||||||
United Wholesale Mortgage LLC, 5.50%, 4/15/29(1) | 47,000 | 39,301 | ||||||
580,430 | ||||||||
Food Products — 1.3% | ||||||||
Herbalife Nutrition Ltd. / HLF Financing, Inc., 7.875%, 9/1/25(1) | 47,000 | 43,309 | ||||||
JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc., 5.50%, 1/15/30(1) | 70,000 | 66,568 | ||||||
Lamb Weston Holdings, Inc., 4.375%, 1/31/32(1) | 50,000 | 44,401 | ||||||
Pilgrim's Pride Corp., 5.875%, 9/30/27(1) | 70,000 | 68,696 | ||||||
Post Holdings, Inc., 5.75%, 3/1/27(1) | 26,000 | 25,521 | ||||||
Post Holdings, Inc., 4.50%, 9/15/31(1)(2) | 50,000 | 42,377 | ||||||
Simmons Foods, Inc. / Simmons Prepared Foods, Inc. / Simmons Pet Food, Inc. / Simmons Feed, Inc., 4.625%, 3/1/29(1) | 47,000 | 38,242 | ||||||
US Foods, Inc., 4.75%, 2/15/29(1) | 50,000 | 45,667 | ||||||
374,781 | ||||||||
Ground Transportation — 1.8% | ||||||||
Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 5.75%, 7/15/27(1)(2) | 70,000 | 66,047 | ||||||
Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 4.75%, 4/1/28(1)(2) | 47,000 | 41,958 | ||||||
Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 5.375%, 3/1/29(1)(2) | 47,000 | 42,403 | ||||||
Hertz Corp., 5.00%, 12/1/29(1) | 47,000 | 37,786 | ||||||
NESCO Holdings II, Inc., 5.50%, 4/15/29(1) | 47,000 | 41,596 | ||||||
Uber Technologies, Inc., 7.50%, 9/15/27(1) | 50,000 | 51,363 | ||||||
Uber Technologies, Inc., 4.50%, 8/15/29(1)(2) | 93,000 | 85,007 | ||||||
United Rentals North America, Inc., 4.875%, 1/15/28 | 97,000 | 92,628 | ||||||
United Rentals North America, Inc., 3.875%, 2/15/31 | 70,000 | 60,122 | ||||||
518,910 | ||||||||
Health Care Equipment and Supplies — 0.6% | ||||||||
Avantor Funding, Inc., 3.875%, 11/1/29(1) | 47,000 | 41,062 | ||||||
Medline Borrower LP, 3.875%, 4/1/29(1) | 70,000 | 60,448 | ||||||
Medline Borrower LP, 5.25%, 10/1/29(1)(2) | 93,000 | 79,671 | ||||||
181,181 | ||||||||
Health Care Providers and Services — 4.8% | ||||||||
Catalent Pharma Solutions, Inc., 3.50%, 4/1/30(1)(2) | 97,000 | 78,303 | ||||||
Centene Corp., 4.25%, 12/15/27 | 117,000 | 110,060 | ||||||
Centene Corp., 4.625%, 12/15/29 | 71,000 | 65,909 | ||||||
CHS / Community Health Systems, Inc., 8.00%, 3/15/26(1) | 63,000 | 58,896 | ||||||
CHS / Community Health Systems, Inc., 5.625%, 3/15/27(1) | 77,000 | 65,987 | ||||||
CHS / Community Health Systems, Inc., 8.00%, 12/15/27(1)(2) | 47,000 | 43,789 | ||||||
CHS / Community Health Systems, Inc., 4.75%, 2/15/31(1) | 47,000 | 33,834 | ||||||
DaVita, Inc., 4.625%, 6/1/30(1) | 140,000 | 120,086 | ||||||
DaVita, Inc., 3.75%, 2/15/31(1)(2) | 47,000 | 37,355 | ||||||
HCA, Inc., 5.375%, 2/1/25 | 70,000 | 69,549 | ||||||
HCA, Inc., 5.875%, 2/15/26 | 47,000 | 47,237 | ||||||
HCA, Inc., 5.375%, 9/1/26 | 70,000 | 69,732 | ||||||
HealthEquity, Inc., 4.50%, 10/1/29(1) | 47,000 | 41,793 | ||||||
Legacy LifePoint Health LLC, 6.75%, 4/15/25(1)(2) | 47,000 | 41,970 | ||||||
Molina Healthcare, Inc., 3.875%, 5/15/32(1)(2) | 47,000 | 39,222 | ||||||
Owens & Minor, Inc., 4.50%, 3/31/29(1) | 47,000 | 38,610 | ||||||
Tenet Healthcare Corp., 4.875%, 1/1/26 | 140,000 | 135,551 | ||||||
Tenet Healthcare Corp., 6.25%, 2/1/27 | 70,000 | 69,017 | ||||||
Tenet Healthcare Corp., 5.125%, 11/1/27 | 47,000 | 44,954 | ||||||
Tenet Healthcare Corp., 6.125%, 10/1/28(2) | 50,000 | 47,438 | ||||||
Tenet Healthcare Corp., 4.25%, 6/1/29 | 47,000 | 42,258 | ||||||
Tenet Healthcare Corp., 6.125%, 6/15/30(1) | 44,000 | 42,566 | ||||||
1,344,116 | ||||||||
Health Care REITs — 0.2% | ||||||||
Diversified Healthcare Trust, 9.75%, 6/15/25 | 35,000 | 33,886 | ||||||
Diversified Healthcare Trust, 4.375%, 3/1/31 | 47,000 | 33,690 | ||||||
67,576 | ||||||||
Hotel & Resort REITs — 0.9% | ||||||||
Service Properties Trust, 4.35%, 10/1/24 | 70,000 | 67,245 | ||||||
Service Properties Trust, 5.25%, 2/15/26 | 47,000 | 41,962 | ||||||
Service Properties Trust, 4.95%, 2/15/27 | 70,000 | 58,370 | ||||||
Service Properties Trust, 4.95%, 10/1/29 | 70,000 | 53,108 | ||||||
Service Properties Trust, 4.375%, 2/15/30 | 47,000 | 34,175 | ||||||
254,860 | ||||||||
Hotels, Restaurants and Leisure — 10.1% | ||||||||
1011778 BC ULC / New Red Finance, Inc., 4.375%, 1/15/28(1) | 47,000 | 43,217 | ||||||
1011778 BC ULC / New Red Finance, Inc., 4.00%, 10/15/30(1) | 117,000 | 100,560 |
Affinity Interactive, 6.875%, 12/15/27(1) | 117,000 | 102,504 | ||||||
Aramark Services, Inc., 6.375%, 5/1/25(1) | 117,000 | 116,228 | ||||||
Boyd Gaming Corp., 4.75%, 6/15/31(1) | 100,000 | 89,027 | ||||||
Caesars Entertainment, Inc., 6.25%, 7/1/25(1)(2) | 97,000 | 96,795 | ||||||
Caesars Entertainment, Inc., 4.625%, 10/15/29(1)(2) | 97,000 | 83,746 | ||||||
Carnival Corp., 10.50%, 2/1/26(1) | 70,000 | 72,806 | ||||||
Carnival Corp., 7.625%, 3/1/26(1)(2) | 70,000 | 66,433 | ||||||
Carnival Corp., 5.75%, 3/1/27(1) | 196,000 | 168,009 | ||||||
Carnival Corp., 9.875%, 8/1/27(1) | 47,000 | 48,558 | ||||||
Carnival Corp., 4.00%, 8/1/28(1) | 79,000 | 68,974 | ||||||
Carnival Corp., 6.00%, 5/1/29(1) | 174,000 | 144,841 | ||||||
Carnival Holdings Bermuda Ltd., 10.375%, 5/1/28(1) | 24,000 | 26,001 | ||||||
CDI Escrow Issuer, Inc., 5.75%, 4/1/30(1) | 50,000 | 46,914 | ||||||
Cedar Fair LP / Canada's Wonderland Co. / Magnum Management Corp. / Millennium Op, 6.50%, 10/1/28 | 50,000 | 49,262 | ||||||
Everi Holdings, Inc., 5.00%, 7/15/29(1)(2) | 50,000 | 44,392 | ||||||
Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc., 4.625%, 1/15/29(1) | 70,000 | 61,181 | ||||||
GPS Hospitality Holding Co. LLC / GPS Finco, Inc., 7.00%, 8/15/28(1) | 47,000 | 29,540 | ||||||
Hilton Domestic Operating Co., Inc., 4.875%, 1/15/30 | 47,000 | 43,743 | ||||||
Hilton Domestic Operating Co., Inc., 3.625%, 2/15/32(1) | 47,000 | 38,905 | ||||||
Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc, 5.00%, 6/1/29(1) | 118,000 | 105,109 | ||||||
Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc, 4.875%, 7/1/31(1) | 47,000 | 39,934 | ||||||
Life Time, Inc., 8.00%, 4/15/26(1)(2) | 47,000 | 46,399 | ||||||
MGM Resorts International, 6.75%, 5/1/25 | 93,000 | 93,438 | ||||||
MGM Resorts International, 4.75%, 10/15/28(2) | 47,000 | 42,876 | ||||||
Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp., 4.875%, 5/1/29(1) | 47,000 | 41,490 | ||||||
NCL Corp. Ltd., 3.625%, 12/15/24(1) | 26,000 | 24,886 | ||||||
NCL Corp. Ltd., 5.875%, 3/15/26(1) | 47,000 | 42,688 | ||||||
NCL Finance Ltd., 6.125%, 3/15/28(1)(2) | 47,000 | 40,115 | ||||||
Premier Entertainment Sub LLC / Premier Entertainment Finance Corp., 5.625%, 9/1/29(1)(2) | 47,000 | 33,418 | ||||||
Premier Entertainment Sub LLC / Premier Entertainment Finance Corp., 5.875%, 9/1/31(1) | 47,000 | 32,355 | ||||||
Royal Caribbean Cruises Ltd., 5.375%, 7/15/27(1) | 25,000 | 23,063 | ||||||
Royal Caribbean Cruises Ltd., 7.50%, 10/15/27 | 70,000 | 68,795 | ||||||
Royal Caribbean Cruises Ltd., 3.70%, 3/15/28 | 47,000 | 40,007 | ||||||
Royal Caribbean Cruises Ltd., 5.50%, 4/1/28(1) | 140,000 | 128,761 | ||||||
Royal Caribbean Cruises Ltd., 8.25%, 1/15/29(1) | 50,000 | 52,656 | ||||||
Scientific Games International, Inc., 7.25%, 11/15/29(1) | 47,000 | 46,773 | ||||||
SeaWorld Parks & Entertainment, Inc., 5.25%, 8/15/29(1)(2) | 50,000 | 44,877 | ||||||
Sizzling Platter LLC / Sizzling Platter Finance Corp., 8.50%, 11/28/25(1) | 47,000 | 44,095 | ||||||
Travel & Leisure Co., 6.625%, 7/31/26(1) | 47,000 | 46,617 | ||||||
Travel & Leisure Co., 4.50%, 12/1/29(1) | 47,000 | 39,892 | ||||||
Viking Cruises Ltd., 6.25%, 5/15/25(1) | 70,000 | 68,345 | ||||||
Viking Ocean Cruises Ship VII Ltd., 5.625%, 2/15/29(1) | 70,000 | 61,159 | ||||||
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp., 5.50%, 3/1/25(1) | 93,000 | 91,263 | ||||||
2,840,647 | ||||||||
Household Durables — 2.7% | ||||||||
Ashton Woods USA LLC / Ashton Woods Finance Co., 4.625%, 4/1/30(1) | 47,000 | 38,871 | ||||||
Beazer Homes USA, Inc., 6.75%, 3/15/25 | 70,000 | 69,630 | ||||||
Beazer Homes USA, Inc., 5.875%, 10/15/27(2) | 47,000 | 43,411 | ||||||
Brookfield Residential Properties, Inc. / Brookfield Residential US LLC, 5.00%, 6/15/29(1) | 70,000 | 53,839 | ||||||
Century Communities, Inc., 6.75%, 6/1/27 | 117,000 | 117,095 | ||||||
KB Home, 4.00%, 6/15/31 | 47,000 | 39,964 | ||||||
Mattamy Group Corp., 4.625%, 3/1/30(1) | 47,000 | 40,465 | ||||||
Newell Brands, Inc., 4.70%, 4/1/26 | 70,000 | 65,013 | ||||||
Newell Brands, Inc., 6.375%, 9/15/27(2) | 50,000 | 47,680 |
Newell Brands, Inc., 6.625%, 9/15/29(2) | 50,000 | 47,281 | ||||||
Taylor Morrison Communities, Inc., 5.125%, 8/1/30(1) | 47,000 | 43,774 | ||||||
Tempur Sealy International, Inc., 4.00%, 4/15/29(1) | 47,000 | 40,061 | ||||||
Tempur Sealy International, Inc., 3.875%, 10/15/31(1)(2) | 47,000 | 37,656 | ||||||
Tri Pointe Homes, Inc., 5.25%, 6/1/27 | 70,000 | 66,431 | ||||||
751,171 | ||||||||
Independent Power and Renewable Electricity Producers — 1.3% | ||||||||
Calpine Corp., 5.25%, 6/1/26(1) | 35,000 | 33,972 | ||||||
Calpine Corp., 4.50%, 2/15/28(1) | 85,000 | 77,427 | ||||||
Calpine Corp., 5.125%, 3/15/28(1) | 118,000 | 105,840 | ||||||
Clearway Energy Operating LLC, 4.75%, 3/15/28(1) | 70,000 | 65,250 | ||||||
Sunnova Energy Corp., 5.875%, 9/1/26(1) | 47,000 | 41,324 | ||||||
TerraForm Power Operating LLC, 5.00%, 1/31/28(1) | 47,000 | 44,129 | ||||||
367,942 | ||||||||
Insurance — 0.2% | ||||||||
Acrisure LLC / Acrisure Finance, Inc., 4.25%, 2/15/29(1) | 70,000 | 59,002 | ||||||
Interactive Media and Services — 0.2% | ||||||||
Rackspace Technology Global, Inc., 3.50%, 2/15/28(1) | 47,000 | 18,750 | ||||||
Ziff Davis, Inc., 4.625%, 10/15/30(1) | 47,000 | 40,114 | ||||||
58,864 | ||||||||
IT Services — 0.3% | ||||||||
CDW LLC / CDW Finance Corp., 4.125%, 5/1/25 | 47,000 | 45,431 | ||||||
Presidio Holdings, Inc., 4.875%, 2/1/27(1) | 47,000 | 43,983 | ||||||
89,414 | ||||||||
Leisure Products — 0.1% | ||||||||
Mattel, Inc., 5.45%, 11/1/41 | 47,000 | 39,171 | ||||||
Life Sciences Tools and Services — 0.2% | ||||||||
Charles River Laboratories International, Inc., 4.00%, 3/15/31(1) | 50,000 | 43,024 | ||||||
Machinery — 0.3% | ||||||||
Hillenbrand, Inc., 3.75%, 3/1/31 | 47,000 | 39,061 | ||||||
Terex Corp., 5.00%, 5/15/29(1) | 47,000 | 43,610 | ||||||
82,671 | ||||||||
Media — 8.7% | ||||||||
CCO Holdings LLC / CCO Holdings Capital Corp., 5.125%, 5/1/27(1) | 70,000 | 64,936 | ||||||
CCO Holdings LLC / CCO Holdings Capital Corp., 5.375%, 6/1/29(1) | 70,000 | 63,097 | ||||||
CCO Holdings LLC / CCO Holdings Capital Corp., 6.375%, 9/1/29(1)(2) | 47,000 | 43,890 | ||||||
CCO Holdings LLC / CCO Holdings Capital Corp., 4.75%, 3/1/30(1) | 70,000 | 59,120 | ||||||
CCO Holdings LLC / CCO Holdings Capital Corp., 4.50%, 8/15/30(1) | 117,000 | 96,419 | ||||||
CCO Holdings LLC / CCO Holdings Capital Corp., 4.25%, 2/1/31(1) | 117,000 | 93,832 | ||||||
CCO Holdings LLC / CCO Holdings Capital Corp., 4.50%, 5/1/32 | 140,000 | 109,709 | ||||||
CCO Holdings LLC / CCO Holdings Capital Corp., 4.50%, 6/1/33(1) | 93,000 | 71,078 | ||||||
Clear Channel Outdoor Holdings, Inc., 5.125%, 8/15/27(1)(2) | 47,000 | 41,495 | ||||||
CSC Holdings LLC, 6.50%, 2/1/29(1) | 200,000 | 157,712 | ||||||
CSC Holdings LLC, 5.75%, 1/15/30(1) | 200,000 | 88,309 | ||||||
Directv Financing LLC / Directv Financing Co-Obligor, Inc., 5.875%, 8/15/27(1) | 117,000 | 103,187 | ||||||
DISH DBS Corp., 7.75%, 7/1/26 | 70,000 | 40,251 | ||||||
DISH DBS Corp., 5.25%, 12/1/26(1) | 161,000 | 127,479 | ||||||
DISH DBS Corp., 5.75%, 12/1/28(1) | 25,000 | 18,180 | ||||||
DISH DBS Corp., 5.125%, 6/1/29 | 47,000 | 21,367 | ||||||
GCI LLC, 4.75%, 10/15/28(1) | 47,000 | 39,741 | ||||||
Gray Television, Inc., 7.00%, 5/15/27(1)(2) | 117,000 | 96,505 | ||||||
Gray Television, Inc., 4.75%, 10/15/30(1)(2) | 47,000 | 30,508 | ||||||
iHeartCommunications, Inc., 5.25%, 8/15/27(1)(2) | 47,000 | 33,070 | ||||||
iHeartCommunications, Inc., 4.75%, 1/15/28(1)(2) | 47,000 | 32,655 |
Lamar Media Corp., 3.75%, 2/15/28 | 47,000 | 42,456 | ||||||
Lamar Media Corp., 4.875%, 1/15/29 | 47,000 | 43,528 | ||||||
Lamar Media Corp., 4.00%, 2/15/30 | 47,000 | 41,196 | ||||||
News Corp., 3.875%, 5/15/29(1) | 70,000 | 61,561 | ||||||
Nexstar Media, Inc., 5.625%, 7/15/27(1) | 47,000 | 43,180 | ||||||
Outfront Media Capital LLC / Outfront Media Capital Corp., 5.00%, 8/15/27(1) | 93,000 | 83,434 | ||||||
Sinclair Television Group, Inc., 5.125%, 2/15/27(1) | 36,000 | 29,311 | ||||||
Sinclair Television Group, Inc., 5.50%, 3/1/30(1) | 137,000 | 79,602 | ||||||
Sinclair Television Group, Inc., 4.125%, 12/1/30(1) | 47,000 | 30,785 | ||||||
Sirius XM Radio, Inc., 3.125%, 9/1/26(1) | 25,000 | 22,086 | ||||||
Sirius XM Radio, Inc., 5.00%, 8/1/27(1) | 70,000 | 63,554 | ||||||
Sirius XM Radio, Inc., 4.00%, 7/15/28(1) | 70,000 | 58,704 | ||||||
Sirius XM Radio, Inc., 5.50%, 7/1/29(1) | 47,000 | 41,084 | ||||||
Sirius XM Radio, Inc., 3.875%, 9/1/31(1) | 47,000 | 34,731 | ||||||
Univision Communications, Inc., 5.125%, 2/15/25(1) | 70,000 | 67,692 | ||||||
Univision Communications, Inc., 6.625%, 6/1/27(1) | 47,000 | 44,567 | ||||||
Videotron Ltd., 3.625%, 6/15/29(1)(2) | 72,000 | 62,046 | ||||||
Virgin Media Secured Finance PLC, 5.50%, 5/15/29(1) | 200,000 | 180,023 | ||||||
2,462,080 | ||||||||
Metals and Mining — 2.5% | ||||||||
Arconic Corp., 6.00%, 5/15/25(1) | 47,000 | 47,244 | ||||||
Arconic Corp., 6.125%, 2/15/28(1) | 47,000 | 47,483 | ||||||
ATI, Inc., 4.875%, 10/1/29 | 25,000 | 22,215 | ||||||
ATI, Inc., 5.125%, 10/1/31 | 47,000 | 41,283 | ||||||
Carpenter Technology Corp., 6.375%, 7/15/28 | 47,000 | 45,361 | ||||||
Cleveland-Cliffs, Inc., 4.625%, 3/1/29(1)(2) | 25,000 | 22,250 | ||||||
Cleveland-Cliffs, Inc., 4.875%, 3/1/31(1) | 47,000 | 40,232 | ||||||
Coeur Mining, Inc., 5.125%, 2/15/29(1)(2) | 47,000 | 39,651 | ||||||
Compass Minerals International, Inc., 6.75%, 12/1/27(1) | 47,000 | 44,993 | ||||||
FMG Resources August Pty Ltd., 6.125%, 4/15/32(1) | 50,000 | 47,235 | ||||||
Hudbay Minerals, Inc., 6.125%, 4/1/29(1)(2) | 47,000 | 42,271 | ||||||
IAMGOLD Corp., 5.75%, 10/15/28(1) | 47,000 | 36,732 | ||||||
Novelis Corp., 4.75%, 1/30/30(1) | 117,000 | 103,942 | ||||||
PT FMG Resources August 2006 Pty Ltd., 4.375%, 4/1/31(1) | 96,000 | 81,220 | ||||||
Taseko Mines Ltd., 7.00%, 2/15/26(1) | 47,000 | 42,174 | ||||||
704,286 | ||||||||
Mortgage Real Estate Investment Trusts (REITs) — 0.1% | ||||||||
Blackstone Mortgage Trust, Inc., 3.75%, 1/15/27(1)(2) | 47,000 | 39,351 | ||||||
Oil, Gas and Consumable Fuels — 15.1% | ||||||||
Aethon United BR LP / Aethon United Finance Corp., 8.25%, 2/15/26(1) | 47,000 | 45,540 | ||||||
Antero Midstream Partners LP / Antero Midstream Finance Corp., 7.875%, 5/15/26(1) | 47,000 | 47,698 | ||||||
Antero Midstream Partners LP / Antero Midstream Finance Corp., 5.375%, 6/15/29(1) | 97,000 | 89,300 | ||||||
Apache Corp., 4.25%, 1/15/30(2) | 50,000 | 44,954 | ||||||
Apache Corp., 5.10%, 9/1/40 | 70,000 | 57,681 | ||||||
Ascent Resources Utica Holdings LLC / ARU Finance Corp., 5.875%, 6/30/29(1)(2) | 47,000 | 41,316 | ||||||
Callon Petroleum Co., 7.50%, 6/15/30(1)(2) | 50,000 | 46,423 | ||||||
Cheniere Energy Partners LP, 4.00%, 3/1/31 | 163,000 | 143,626 | ||||||
Cheniere Energy, Inc., 4.625%, 10/15/28 | 47,000 | 44,157 | ||||||
Citgo Holding, Inc., 9.25%, 8/1/24(1) | 47,000 | 47,127 | ||||||
CITGO Petroleum Corp., 7.00%, 6/15/25(1) | 47,000 | 46,230 | ||||||
CITGO Petroleum Corp., 6.375%, 6/15/26(1) | 47,000 | 45,305 | ||||||
CNX Resources Corp., 7.375%, 1/15/31(1) | 50,000 | 48,185 | ||||||
Comstock Resources, Inc., 6.75%, 3/1/29(1) | 63,000 | 55,138 | ||||||
Comstock Resources, Inc., 5.875%, 1/15/30(1) | 47,000 | 39,245 |
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp., 5.75%, 4/1/25 | 47,000 | 46,163 | ||||||
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp., 6.00%, 2/1/29(1) | 47,000 | 43,537 | ||||||
CrownRock LP / CrownRock Finance, Inc., 5.625%, 10/15/25(1) | 117,000 | 114,765 | ||||||
DCP Midstream Operating LP, 5.125%, 5/15/29 | 70,000 | 68,127 | ||||||
Delek Logistics Partners LP / Delek Logistics Finance Corp., 7.125%, 6/1/28(1) | 47,000 | 42,824 | ||||||
Endeavor Energy Resources LP / EER Finance, Inc., 5.75%, 1/30/28(1) | 100,000 | 98,847 | ||||||
EnLink Midstream LLC, 6.50%, 9/1/30(1) | 47,000 | 46,759 | ||||||
EnLink Midstream Partners LP, 4.85%, 7/15/26 | 70,000 | 67,815 | ||||||
EnLink Midstream Partners LP, 5.60%, 4/1/44 | 70,000 | 56,344 | ||||||
EnLink Midstream Partners LP, 5.45%, 6/1/47 | 70,000 | 55,798 | ||||||
EQM Midstream Partners LP, 6.00%, 7/1/25(1) | 47,000 | 46,544 | ||||||
EQM Midstream Partners LP, 6.50%, 7/1/27(1) | 47,000 | 45,982 | ||||||
EQM Midstream Partners LP, 4.50%, 1/15/29(1) | 47,000 | 41,145 | ||||||
EQM Midstream Partners LP, 4.75%, 1/15/31(1) | 47,000 | 40,411 | ||||||
EQT Corp., 3.90%, 10/1/27(2) | 70,000 | 65,107 | ||||||
EQT Corp., 7.00%, 2/1/30 | 47,000 | 48,694 | ||||||
Genesis Energy LP / Genesis Energy Finance Corp., 8.00%, 1/15/27 | 117,000 | 114,093 | ||||||
Genesis Energy LP / Genesis Energy Finance Corp., 7.75%, 2/1/28 | 47,000 | 45,228 | ||||||
Harvest Midstream I LP, 7.50%, 9/1/28(1) | 70,000 | 67,015 | ||||||
Hess Midstream Operations LP, 5.625%, 2/15/26(1) | 70,000 | 68,751 | ||||||
Hess Midstream Operations LP, 5.125%, 6/15/28(1)(2) | 47,000 | 44,071 | ||||||
Hilcorp Energy I LP / Hilcorp Finance Co., 6.00%, 2/1/31(1) | 47,000 | 42,008 | ||||||
Holly Energy Partners LP / Holly Energy Finance Corp., 5.00%, 2/1/28(1) | 47,000 | 43,358 | ||||||
ITT Holdings LLC, 6.50%, 8/1/29(1) | 47,000 | 37,533 | ||||||
Matador Resources Co., 5.875%, 9/15/26(2) | 70,000 | 67,678 | ||||||
MEG Energy Corp., 5.875%, 2/1/29(1) | 70,000 | 66,209 | ||||||
Murphy Oil Corp., 5.875%, 12/1/27(2) | 47,000 | 45,675 | ||||||
Murphy Oil Corp., 6.375%, 7/15/28(2) | 47,000 | 46,379 | ||||||
NGL Energy Operating LLC / NGL Energy Finance Corp., 7.50%, 2/1/26(1) | 70,000 | 66,958 | ||||||
NuStar Logistics LP, 6.375%, 10/1/30 | 47,000 | 45,306 | ||||||
Occidental Petroleum Corp., 5.50%, 12/1/25 | 47,000 | 46,840 | ||||||
Occidental Petroleum Corp., 3.40%, 4/15/26 | 47,000 | 43,605 | ||||||
Occidental Petroleum Corp., 8.50%, 7/15/27 | 57,000 | 62,487 | ||||||
Occidental Petroleum Corp., 6.375%, 9/1/28 | 47,000 | 48,407 | ||||||
Occidental Petroleum Corp., 8.875%, 7/15/30 | 58,000 | 66,892 | ||||||
Occidental Petroleum Corp., 6.625%, 9/1/30 | 47,000 | 49,040 | ||||||
Occidental Petroleum Corp., 6.125%, 1/1/31 | 33,000 | 33,570 | ||||||
Occidental Petroleum Corp., 7.50%, 5/1/31 | 47,000 | 51,098 | ||||||
Occidental Petroleum Corp., 4.40%, 4/15/46 | 104,000 | 78,957 | ||||||
Parkland Corp., 4.625%, 5/1/30(1)(2) | 47,000 | 40,688 | ||||||
PBF Holding Co. LLC / PBF Finance Corp., 6.00%, 2/15/28 | 47,000 | 43,778 | ||||||
Range Resources Corp., 8.25%, 1/15/29 | 47,000 | 49,010 | ||||||
Rockcliff Energy II LLC, 5.50%, 10/15/29(1) | 47,000 | 43,241 | ||||||
Rockies Express Pipeline LLC, 4.95%, 7/15/29(1) | 50,000 | 44,938 | ||||||
SM Energy Co., 6.75%, 9/15/26 | 70,000 | 67,686 | ||||||
Southwestern Energy Co., 5.375%, 2/1/29 | 47,000 | 43,824 | ||||||
Southwestern Energy Co., 5.375%, 3/15/30 | 47,000 | 43,250 | ||||||
Sunoco LP / Sunoco Finance Corp., 6.00%, 4/15/27 | 47,000 | 46,289 | ||||||
Sunoco LP / Sunoco Finance Corp., 4.50%, 4/30/30 | 47,000 | 41,287 | ||||||
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp., 6.00%, 12/31/30(1) | 47,000 | 40,890 | ||||||
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp., 6.00%, 9/1/31(1) | 47,000 | 40,024 | ||||||
Talos Production, Inc., 12.00%, 1/15/26 | 34,000 | 35,829 | ||||||
Tap Rock Resources LLC, 7.00%, 10/1/26(1) | 47,000 | 44,092 | ||||||
Targa Resources Partners LP / Targa Resources Partners Finance Corp., 6.50%, 7/15/27 | 47,000 | 47,210 |
Targa Resources Partners LP / Targa Resources Partners Finance Corp., 5.00%, 1/15/28 | 117,000 | 112,926 | ||||||
Targa Resources Partners LP / Targa Resources Partners Finance Corp., 4.875%, 2/1/31 | 47,000 | 43,294 | ||||||
Teine Energy Ltd., 6.875%, 4/15/29(1) | 47,000 | 43,118 | ||||||
Venture Global Calcasieu Pass LLC, 3.875%, 8/15/29(1) | 93,000 | 81,021 | ||||||
Viper Energy Partners LP, 5.375%, 11/1/27(1) | 70,000 | 67,410 | ||||||
Vital Energy, Inc., 9.50%, 1/15/25(2) | 70,000 | 69,312 | ||||||
Western Midstream Operating LP, 3.35%, 2/1/25 | 70,000 | 66,855 | ||||||
Western Midstream Operating LP, 5.50%, 2/1/50 | 88,000 | 70,341 | ||||||
4,278,258 | ||||||||
Passenger Airlines — 1.9% | ||||||||
Air Canada, 3.875%, 8/15/26(1)(2) | 47,000 | 43,681 | ||||||
American Airlines, Inc., 11.75%, 7/15/25(1) | 114,000 | 124,979 | ||||||
American Airlines, Inc., 7.25%, 2/15/28(1) | 29,000 | 28,414 | ||||||
American Airlines, Inc. / AAdvantage Loyalty IP Ltd., 5.50%, 4/20/26(1) | 69,643 | 68,411 | ||||||
Delta Air Lines, Inc., 7.00%, 5/1/25(1) | 70,000 | 71,949 | ||||||
Delta Air Lines, Inc., 4.375%, 4/19/28(2) | 65,000 | 61,021 | ||||||
Hawaiian Brand Intellectual Property Ltd. / HawaiianMiles Loyalty Ltd., 5.75%, 1/20/26(1) | 46,429 | 43,216 | ||||||
United Airlines, Inc., 4.375%, 4/15/26(1) | 47,000 | 44,511 | ||||||
United Airlines, Inc., 4.625%, 4/15/29(1) | 50,000 | 45,343 | ||||||
531,525 | ||||||||
Personal Care Products — 0.3% | ||||||||
Edgewell Personal Care Co., 5.50%, 6/1/28(1) | 47,000 | 44,020 | ||||||
Edgewell Personal Care Co., 4.125%, 4/1/29(1) | 47,000 | 40,625 | ||||||
84,645 | ||||||||
Pharmaceuticals — 0.6% | ||||||||
Bausch Health Cos., Inc., 6.125%, 2/1/27(1)(2) | 72,000 | 46,874 | ||||||
Bausch Health Cos., Inc., 5.75%, 8/15/27(1)(2) | 86,000 | 54,089 | ||||||
Prestige Brands, Inc., 3.75%, 4/1/31(1) | 75,000 | 61,845 | ||||||
162,808 | ||||||||
Professional Services — 0.2% | ||||||||
ASGN, Inc., 4.625%, 5/15/28(1) | 70,000 | 63,168 | ||||||
Real Estate Management and Development — 0.6% | ||||||||
Cushman & Wakefield US Borrower LLC, 6.75%, 5/15/28(1) | 70,000 | 62,544 | ||||||
Forestar Group, Inc., 3.85%, 5/15/26(1) | 47,000 | 43,356 | ||||||
Howard Hughes Corp., 5.375%, 8/1/28(1) | 47,000 | 41,863 | ||||||
Realogy Group LLC / Realogy Co.-Issuer Corp., 5.75%, 1/15/29(1) | 47,000 | 34,006 | ||||||
181,769 | ||||||||
Semiconductors and Semiconductor Equipment — 0.3% | ||||||||
ON Semiconductor Corp., 3.875%, 9/1/28(1) | 47,000 | 42,507 | ||||||
Synaptics, Inc., 4.00%, 6/15/29(1)(2) | 47,000 | 39,439 | ||||||
81,946 | ||||||||
Software — 1.9% | ||||||||
Castle US Holding Corp., 9.50%, 2/15/28(1) | 70,000 | 38,433 | ||||||
Cloud Software Group, Inc., 6.50%, 3/31/29(1) | 50,000 | 44,267 | ||||||
Consensus Cloud Solutions, Inc., 6.50%, 10/15/28(1)(2) | 47,000 | 41,014 | ||||||
GoTo Group, Inc., 5.50%, 9/1/27(1) | 47,000 | 26,824 | ||||||
NCR Corp., 5.125%, 4/15/29(1)(2) | 70,000 | 61,317 | ||||||
NCR Corp., 6.125%, 9/1/29(1) | 47,000 | 46,659 | ||||||
NCR Corp., 5.25%, 10/1/30(1) | 70,000 | 59,851 | ||||||
Open Text Corp., 3.875%, 12/1/29(1) | 70,000 | 58,387 | ||||||
Open Text Holdings, Inc., 4.125%, 2/15/30(1) | 47,000 | 39,860 | ||||||
Open Text Holdings, Inc., 4.125%, 12/1/31(1) | 47,000 | 38,608 | ||||||
SS&C Technologies, Inc., 5.50%, 9/30/27(1) | 70,000 | 66,881 | ||||||
522,101 | ||||||||
Specialized REITs — 1.2% | ||||||||
Iron Mountain, Inc., 5.25%, 3/15/28(1) | 140,000 | 131,184 | ||||||
Iron Mountain, Inc., 4.875%, 9/15/29(1) | 70,000 | 62,533 | ||||||
Iron Mountain, Inc., 4.50%, 2/15/31(1) | 47,000 | 40,069 | ||||||
SBA Communications Corp., 3.875%, 2/15/27 | 117,000 | 107,945 | ||||||
341,731 | ||||||||
Specialty Retail — 2.6% | ||||||||
Asbury Automotive Group, Inc., 5.00%, 2/15/32(1) | 47,000 | 40,369 | ||||||
Bath & Body Works, Inc., 6.625%, 10/1/30(1) | 47,000 | 44,836 | ||||||
Bath & Body Works, Inc., 6.75%, 7/1/36 | 70,000 | 62,584 | ||||||
Ferrellgas LP / Ferrellgas Finance Corp., 5.375%, 4/1/26(1) | 47,000 | 42,801 | ||||||
Ferrellgas LP / Ferrellgas Finance Corp., 5.875%, 4/1/29(1) | 70,000 | 58,374 | ||||||
Gap, Inc., 3.875%, 10/1/31(1) | 47,000 | 32,478 | ||||||
Go Daddy Operating Co. LLC / GD Finance Co., Inc., 3.50%, 3/1/29(1) | 25,000 | 21,667 | ||||||
Lithia Motors, Inc., 3.875%, 6/1/29(1) | 47,000 | 40,555 | ||||||
LSF9 Atlantis Holdings LLC / Victra Finance Corp., 7.75%, 2/15/26(1) | 70,000 | 65,010 | ||||||
Match Group Holdings II LLC, 3.625%, 10/1/31(1)(2) | 47,000 | 38,339 | ||||||
Millennium Escrow Corp., 6.625%, 8/1/26(1) | 47,000 | 32,211 | ||||||
Sonic Automotive, Inc., 4.875%, 11/15/31(1)(2) | 47,000 | 37,434 | ||||||
Staples, Inc., 7.50%, 4/15/26(1) | 185,000 | 152,263 | ||||||
Staples, Inc., 10.75%, 4/15/27(1) | 47,000 | 28,875 | ||||||
Superior Plus LP / Superior General Partner, Inc., 4.50%, 3/15/29(1) | 47,000 | 41,223 | ||||||
739,019 | ||||||||
Technology Hardware, Storage and Peripherals — 0.4% | ||||||||
Seagate HDD Cayman, 9.625%, 12/1/32(1) | 23,000 | 25,122 | ||||||
Xerox Holdings Corp., 5.00%, 8/15/25(1) | 47,000 | 44,275 | ||||||
Xerox Holdings Corp., 5.50%, 8/15/28(1) | 47,000 | 40,087 | ||||||
109,484 | ||||||||
Trading Companies and Distributors — 0.6% | ||||||||
Beacon Roofing Supply, Inc., 4.125%, 5/15/29(1) | 47,000 | 40,603 | ||||||
Fly Leasing Ltd., 7.00%, 10/15/24(1) | 70,000 | 62,270 | ||||||
Fortress Transportation & Infrastructure Investors LLC, 6.50%, 10/1/25(1) | 36,000 | 35,017 | ||||||
Fortress Transportation & Infrastructure Investors LLC, 5.50%, 5/1/28(1) | 47,000 | 42,246 | ||||||
180,136 | ||||||||
Transportation Infrastructure — 0.2% | ||||||||
Seaspan Corp., 5.50%, 8/1/29(1) | 70,000 | 55,118 | ||||||
Wireless Telecommunication Services — 1.1% | ||||||||
Sprint LLC, 7.125%, 6/15/24 | 117,000 | 118,307 | ||||||
T-Mobile USA, Inc., 2.25%, 2/15/26 | 47,000 | 43,607 | ||||||
T-Mobile USA, Inc., 3.375%, 4/15/29 | 93,000 | 84,263 | ||||||
Vodafone Group PLC, VRN, 7.00%, 4/4/79 | 70,000 | 70,926 | ||||||
317,103 | ||||||||
TOTAL CORPORATE BONDS (Cost $30,443,667) | 26,978,559 | |||||||
PREFERRED STOCKS — 0.8% | ||||||||
Banks — 0.7% | ||||||||
Bank of America Corp., 6.25% | 70,000 | 68,880 | ||||||
Citigroup, Inc., 4.70% | 103,000 | 89,569 | ||||||
JPMorgan Chase & Co., 6.125% | 47,000 | 46,441 | ||||||
204,890 | ||||||||
Electric Utilities — 0.1% | ||||||||
NRG Energy, Inc., 10.25%(1) | 25,000 | 23,710 | ||||||
TOTAL PREFERRED STOCKS (Cost $249,102) | 228,600 | |||||||
SHORT-TERM INVESTMENTS — 9.3% | ||||||||
Money Market Funds — 9.3% | ||||||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 896,016 | 896,016 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio(3) | 1,716,838 | 1,716,838 | ||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $2,612,854) | 2,612,854 | |||||||
TOTAL INVESTMENT SECURITIES — 105.6% (Cost $33,305,623) | 29,820,013 | |||||||
OTHER ASSETS AND LIABILITIES — (5.6)% | (1,568,250) | |||||||
TOTAL NET ASSETS — 100.0% | $ | 28,251,763 |
NOTES TO SCHEDULE OF INVESTMENTS | ||||||||
PIK | – | Payment in Kind. Security may elect to pay a cash rate and/or an in kind rate. | ||||||
VRN | – | Variable Rate Note. The rate adjusts periodically based upon the terms set forth in the security’s offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The security's effective maturity date may be shorter than the final maturity date shown. |
Level 1 | Level 2 | Level 3 | |||||||||
Assets | |||||||||||
Investment Securities | |||||||||||
Corporate Bonds | — | $ | 26,978,559 | — | |||||||
Preferred Stocks | — | 228,600 | — | ||||||||
Short-Term Investments | $ | 2,612,854 | — | — | |||||||
$ | 2,612,854 | $ | 27,207,159 | — |