Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Long-Term Investments 98.1% | |||||
Asset-Backed Securities 3.9% | |||||
Collateralized Loan Obligations | |||||
Atlas Static Senior Loan Fund Ltd. (Cayman Islands), Series 2022-01A, Class AR, 144A, 3 Month SOFR + 1.750% (Cap N/A, Floor 1.750%) | 7.127 %(c) | 07/15/30 | 750 | $750,000 | |
BlueMountain Fuji US CLO Ltd. (Cayman Islands), Series 2017-02A, Class A1AR, 144A, 3 Month SOFR + 1.262% (Cap N/A, Floor 0.000%) | 6.677(c) | 10/20/30 | 664 | 662,426 | |
Carlyle Global Market Strategies CLO Ltd. (Cayman Islands), Series 2015-05A, Class A1RR, 144A, 3 Month SOFR + 1.342% (Cap N/A, Floor 1.080%) | 6.757(c) | 01/20/32 | 747 | 745,806 | |
Madison Park Funding Ltd. (Cayman Islands), Series 2019-33A, Class AR, 144A, 3 Month SOFR + 1.290% (Cap N/A, Floor 1.290%) | 6.684(c) | 10/15/32 | 1,000 | 994,434 | |
Race Point CLO Ltd. (Cayman Islands), Series 2013-08A, Class AR2, 144A, 3 Month SOFR + 1.302% (Cap N/A, Floor 1.040%) | 6.669(c) | 02/20/30 | 555 | 552,809 | |
Voya CLO Ltd. (Cayman Islands), Series 2014-02A, Class A1RR, 144A, 3 Month SOFR + 1.282% (Cap N/A, Floor 1.020%) | 6.684(c) | 04/17/30 | 475 | 473,770 | |
Total Asset-Backed Securities (cost $4,158,389) | 4,179,245 | ||||
Corporate Bonds 84.7% | |||||
Advertising 0.3% | |||||
CMG Media Corp., Gtd. Notes, 144A | 8.875 | 12/15/27 | 402 | 325,801 | |
Aerospace & Defense 2.7% | |||||
Boeing Co. (The), | |||||
Sr. Unsec’d. Notes | 5.805 | 05/01/50 | 309 | 301,294 | |
Sr. Unsec’d. Notes | 5.930 | 05/01/60 | 329 | 319,037 | |
Bombardier, Inc. (Canada), | |||||
Sr. Unsec’d. Notes, 144A | 6.000 | 02/15/28 | 122 | 115,009 | |
Sr. Unsec’d. Notes, 144A | 7.125 | 06/15/26 | 201 | 200,427 | |
Sr. Unsec’d. Notes, 144A | 7.500 | 03/15/25 | 598 | 598,180 | |
Sr. Unsec’d. Notes, 144A | 7.500 | 02/01/29 | 208 | 205,400 | |
Sr. Unsec’d. Notes, 144A | 7.875 | 04/15/27 | 313 | 313,000 | |
Sr. Unsec’d. Notes, 144A | 8.750 | 11/15/30 | 160 | 163,752 |
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Aerospace & Defense (cont’d.) | |||||
TransDigm, Inc., | |||||
Gtd. Notes | 4.625 % | 01/15/29 | 138 | $124,418 | |
Gtd. Notes | 5.500 | 11/15/27 | 434 | 418,038 | |
Sr. Sec’d. Notes, 144A | 6.250 | 03/15/26 | 200 | 198,732 | |
2,957,287 | |||||
Agriculture 0.2% | |||||
Vector Group Ltd., Sr. Sec’d. Notes, 144A | 5.750 | 02/01/29 | 282 | 251,439 | |
Airlines 1.4% | |||||
American Airlines, Inc., | |||||
Sr. Sec’d. Notes, 144A | 7.250 | 02/15/28 | 50 | 49,375 | |
Sr. Sec’d. Notes, 144A | 11.750 | 07/15/25 | 220 | 241,389 | |
American Airlines, Inc./AAdvantage Loyalty IP Ltd., | |||||
Sr. Sec’d. Notes, 144A | 5.500 | 04/20/26 | 252 | 247,766 | |
Sr. Sec’d. Notes, 144A | 5.750 | 04/20/29 | 105 | 100,154 | |
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd., Sr. Sec’d. Notes, 144A | 5.750 | 01/20/26 | 50 | 39,750 | |
United Airlines, Inc., Sr. Sec’d. Notes, 144A | 4.625 | 04/15/29 | 564 | 503,353 | |
VistaJet Malta Finance PLC/Vista Management Holding, Inc. (Switzerland), | |||||
Sr. Unsec’d. Notes, 144A | 6.375 | 02/01/30 | 155 | 108,887 | |
Sr. Unsec’d. Notes, 144A | 7.875 | 05/01/27 | 115 | 96,313 | |
Sr. Unsec’d. Notes, 144A | 9.500 | 06/01/28 | 180 | 149,328 | |
1,536,315 | |||||
Apparel 0.4% | |||||
Kontoor Brands, Inc., Gtd. Notes, 144A | 4.125 | 11/15/29 | 50 | 43,595 | |
Wolverine World Wide, Inc., Gtd. Notes, 144A | 4.000 | 08/15/29 | 478 | 366,965 | |
410,560 |
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Auto Manufacturers 1.0% | |||||
Allison Transmission, Inc., Gtd. Notes, 144A | 3.750 % | 01/30/31 | 9 | $7,525 | |
Ford Holdings LLC, Gtd. Notes | 9.300 | 03/01/30 | 98 | 108,206 | |
Ford Motor Co., Sr. Unsec’d. Notes | 9.625 | 04/22/30 | 482 | 552,077 | |
Ford Motor Credit Co. LLC, Sr. Unsec’d. Notes | 3.375 | 11/13/25 | 200 | 188,427 | |
PM General Purchaser LLC, Sr. Sec’d. Notes, 144A | 9.500 | 10/01/28 | 217 | 212,699 | |
1,068,934 | |||||
Auto Parts & Equipment 0.8% | |||||
Adient Global Holdings Ltd., Sr. Sec’d. Notes, 144A | 7.000 | 04/15/28 | 113 | 114,413 | |
American Axle & Manufacturing, Inc., Gtd. Notes | 6.500 | 04/01/27 | 202 | 195,259 | |
Dana, Inc., | |||||
Sr. Unsec’d. Notes | 4.500 | 02/15/32 | 187 | 153,522 | |
Sr. Unsec’d. Notes | 5.625 | 06/15/28 | 35 | 33,334 | |
Tenneco, Inc., Sr. Sec’d. Notes, 144A | 8.000 | 11/17/28 | 212 | 174,696 | |
Titan International, Inc., Sr. Sec’d. Notes | 7.000 | 04/30/28 | 152 | 146,759 | |
817,983 | |||||
Banks 0.3% | |||||
Citigroup, Inc., Jr. Sub. Notes | 3.875(ff) | 02/18/26(oo) | 83 | 72,430 | |
Freedom Mortgage Corp., | |||||
Sr. Unsec’d. Notes, 144A | 7.625 | 05/01/26 | 97 | 92,610 | |
Sr. Unsec’d. Notes, 144A | 12.000 | 10/01/28 | 75 | 79,159 | |
Sr. Unsec’d. Notes, 144A | 12.250 | 10/01/30 | 75 | 79,085 | |
323,284 |
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Building Materials 1.6% | |||||
Camelot Return Merger Sub, Inc., Sr. Sec’d. Notes, 144A | 8.750 % | 08/01/28 | 115 | $113,412 | |
Cornerstone Building Brands, Inc., Gtd. Notes, 144A | 6.125 | 01/15/29 | 147 | 115,424 | |
Eco Material Technologies, Inc., Sr. Sec’d. Notes, 144A | 7.875 | 01/31/27 | 122 | 119,994 | |
Griffon Corp., Gtd. Notes | 5.750 | 03/01/28 | 105 | 99,232 | |
JELD-WEN, Inc., Gtd. Notes, 144A | 4.625 | 12/15/25 | 87 | 83,506 | |
Knife River Corp., Sr. Unsec’d. Notes, 144A | 7.750 | 05/01/31 | 50 | 51,418 | |
Masonite International Corp., | |||||
Gtd. Notes, 144A | 3.500 | 02/15/30 | 95 | 79,959 | |
Gtd. Notes, 144A | 5.375 | 02/01/28 | 25 | 23,750 | |
MIWD Holdco II LLC/MIWD Finance Corp., Gtd. Notes, 144A | 5.500 | 02/01/30 | 147 | 124,579 | |
Smyrna Ready Mix Concrete LLC, | |||||
Sr. Sec’d. Notes, 144A | 6.000 | 11/01/28 | 276 | 262,251 | |
Sr. Sec’d. Notes, 144A | 8.875 | 11/15/31 | 120 | 122,082 | |
Standard Industries, Inc., | |||||
Sr. Unsec’d. Notes, 144A | 3.375 | 01/15/31 | 197 | 161,813 | |
Sr. Unsec’d. Notes, 144A | 4.375 | 07/15/30 | 100 | 87,752 | |
Sr. Unsec’d. Notes, 144A | 5.000 | 02/15/27 | 308 | 294,894 | |
Summit Materials LLC/Summit Materials Finance Corp., Sr. Unsec’d. Notes, 144A | 7.250 | 01/15/31 | 30 | 30,000 | |
1,770,066 | |||||
Chemicals 1.6% | |||||
Ashland, Inc., Sr. Unsec’d. Notes | 6.875 | 05/15/43 | 91 | 87,141 | |
ASP Unifrax Holdings, Inc., | |||||
Sr. Sec’d. Notes, 144A | 5.250 | 09/30/28 | 50 | 33,709 | |
Sr. Unsec’d. Notes, 144A | 7.500 | 09/30/29 | 43 | 22,889 | |
Avient Corp., Sr. Unsec’d. Notes, 144A | 5.750 | 05/15/25 | 50 | 49,854 | |
Chemours Co. (The), | |||||
Gtd. Notes, 144A | 4.625 | 11/15/29 | 153 | 128,569 | |
Gtd. Notes, 144A | 5.750 | 11/15/28 | 36 | 32,584 |
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Chemicals (cont’d.) | |||||
Cornerstone Chemical Co., Sr. Sec’d. Notes, 144A, Cash coupon 8.250% and PIK 2.000% (original cost $69,750; purchased 04/09/19 - 01/12/21)(f) | 10.250 % | 09/01/27(d) | 75 | $63,176 | |
Iris Holding, Inc., Sr. Unsec’d. Notes, 144A | 10.000 | 12/15/28 | 237 | 189,035 | |
Olympus Water US Holding Corp., Sr. Sec’d. Notes, 144A | 9.750 | 11/15/28 | 200 | 206,199 | |
Rain Carbon, Inc., Sr. Sec’d. Notes, 144A | 12.250 | 09/01/29 | 90 | 91,794 | |
Rain CII Carbon LLC/CII Carbon Corp., Sec’d. Notes, 144A | 7.250 | 04/01/25 | 3 | 2,884 | |
SK Invictus Intermediate II Sarl, Sr. Sec’d. Notes, 144A | 5.000 | 10/30/29 | 262 | 211,801 | |
SNF Group SACA (France), Sr. Unsec’d. Notes, 144A | 3.125 | 03/15/27 | 200 | 179,482 | |
TPC Group, Inc., Sr. Sec’d. Notes, 144A | 13.000 | 12/16/27 | 105 | 106,030 | |
Tronox, Inc., Gtd. Notes, 144A | 4.625 | 03/15/29 | 196 | 166,508 | |
Valvoline, Inc., Sr. Unsec’d. Notes, 144A | 3.625 | 06/15/31 | 175 | 143,582 | |
WR Grace Holdings LLC, Sr. Sec’d. Notes, 144A | 7.375 | 03/01/31 | 25 | 24,388 | |
1,739,625 | |||||
Coal 0.1% | |||||
Conuma Resources Ltd. (Canada), Sr. Sec’d. Notes, 144A | 13.125 | 05/01/28 | 108 | 102,870 | |
Coronado Finance Pty Ltd. (Australia), Sr. Sec’d. Notes, 144A | 10.750 | 05/15/26 | 35 | 36,531 | |
139,401 | |||||
Commercial Services 5.0% | |||||
Adtalem Global Education, Inc., Sr. Sec’d. Notes, 144A | 5.500 | 03/01/28 | 104 | 98,100 |
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Commercial Services (cont’d.) | |||||
Allied Universal Holdco LLC/Allied Universal Finance Corp., | |||||
Sr. Sec’d. Notes, 144A | 6.625 % | 07/15/26 | 499 | $485,131 | |
Sr. Unsec’d. Notes, 144A | 6.000 | 06/01/29 | 400 | 302,357 | |
Sr. Unsec’d. Notes, 144A | 9.750 | 07/15/27 | 413 | 380,008 | |
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, Sr. Sec’d. Notes, 144A | 4.625 | 06/01/28 | 600 | 520,686 | |
Alta Equipment Group, Inc., Sec’d. Notes, 144A | 5.625 | 04/15/26 | 50 | 46,877 | |
AMN Healthcare, Inc., Gtd. Notes, 144A | 4.000 | 04/15/29 | 222 | 199,081 | |
APi Group DE, Inc., Gtd. Notes, 144A | 4.750 | 10/15/29 | 50 | 44,913 | |
Avis Budget Car Rental LLC/Avis Budget Finance, Inc., | |||||
Gtd. Notes, 144A | 4.750 | 04/01/28 | 123 | 111,649 | |
Gtd. Notes, 144A | 5.375 | 03/01/29 | 175 | 157,539 | |
Brink’s Co. (The), Gtd. Notes, 144A | 4.625 | 10/15/27 | 25 | 23,490 | |
Gartner, Inc., Gtd. Notes, 144A | 3.625 | 06/15/29 | 50 | 44,727 | |
Hertz Corp. (The), | |||||
Gtd. Notes, 144A | 4.625 | 12/01/26 | 122 | 107,454 | |
Gtd. Notes, 144A | 5.000 | 12/01/29 | 50 | 38,409 | |
Metis Merger Sub LLC, Sr. Unsec’d. Notes, 144A | 6.500 | 05/15/29 | 643 | 545,587 | |
MPH Acquisition Holdings LLC, Sr. Sec’d. Notes, 144A | 5.500 | 09/01/28 | 404 | 350,912 | |
NESCO Holdings II, Inc., Sec’d. Notes, 144A | 5.500 | 04/15/29 | 293 | 262,669 | |
Service Corp. International, | |||||
Sr. Unsec’d. Notes | 3.375 | 08/15/30 | 118 | 99,529 | |
Sr. Unsec’d. Notes | 4.000 | 05/15/31 | 189 | 161,934 | |
United Rentals North America, Inc., | |||||
Gtd. Notes | 3.750 | 01/15/32 | 346 | 293,720 | |
Gtd. Notes | 3.875 | 02/15/31 | 217 | 188,860 | |
Gtd. Notes | 4.875 | 01/15/28 | 75 | 72,106 | |
Gtd. Notes | 5.250 | 01/15/30 | 122 | 116,549 | |
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Commercial Services (cont’d.) | |||||
Verscend Escrow Corp., Sr. Unsec’d. Notes, 144A | 9.750 % | 08/15/26 | 611 | $613,630 | |
VT Topco, Inc., Sr. Sec’d. Notes, 144A | 8.500 | 08/15/30 | 75 | 76,780 | |
5,342,697 | |||||
Computers 0.9% | |||||
McAfee Corp., Sr. Unsec’d. Notes, 144A | 7.375 | 02/15/30 | 357 | 308,595 | |
NCR Atleos Corp., Sr. Sec’d. Notes, 144A | 9.500 | 04/01/29 | 244 | 252,094 | |
NCR Voyix Corp., | |||||
Gtd. Notes, 144A | 5.000 | 10/01/28 | 243 | 221,791 | |
Gtd. Notes, 144A | 5.125 | 04/15/29 | 122 | 111,731 | |
Gtd. Notes, 144A | 5.250 | 10/01/30 | 50 | 44,071 | |
938,282 | |||||
Distribution/Wholesale 0.7% | |||||
H&E Equipment Services, Inc., Gtd. Notes, 144A | 3.875 | 12/15/28 | 597 | 529,024 | |
Ritchie Bros Holdings, Inc. (Canada), | |||||
Gtd. Notes, 144A | 7.750 | 03/15/31 | 75 | 77,820 | |
Sr. Sec’d. Notes, 144A | 6.750 | 03/15/28 | 25 | 25,461 | |
Windsor Holdings III LLC, Sr. Sec’d. Notes, 144A | 8.500 | 06/15/30 | 165 | 170,181 | |
802,486 | |||||
Diversified Financial Services 3.5% | |||||
Bread Financial Holdings, Inc., Gtd. Notes, 144A | 4.750 | 12/15/24 | 100 | 97,757 | |
GN Bondco LLC, Sr. Sec’d. Notes, 144A | 9.500 | 10/15/31 | 323 | 306,861 | |
goeasy Ltd. (Canada), | |||||
Gtd. Notes, 144A | 4.375 | 05/01/26 | 122 | 114,070 | |
Gtd. Notes, 144A | 9.250 | 12/01/28 | 70 | 71,904 | |
Jefferies Finance LLC/JFIN Co-Issuer Corp., Sr. Unsec’d. Notes, 144A | 5.000 | 08/15/28 | 400 | 342,031 |
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Diversified Financial Services (cont’d.) | |||||
LD Holdings Group LLC, Gtd. Notes, 144A | 6.125 % | 04/01/28 | 128 | $90,055 | |
LFS Topco LLC, Gtd. Notes, 144A | 5.875 | 10/15/26 | 113 | 99,829 | |
LPL Holdings, Inc., Gtd. Notes, 144A | 4.375 | 05/15/31 | 50 | 43,149 | |
Macquarie Airfinance Holdings Ltd. (United Kingdom), | |||||
Sr. Unsec’d. Notes, 144A | 8.125 | 03/30/29 | 175 | 178,008 | |
Sr. Unsec’d. Notes, 144A | 8.375 | 05/01/28 | 50 | 51,260 | |
Nationstar Mortgage Holdings, Inc., | |||||
Gtd. Notes, 144A | 5.125 | 12/15/30 | 376 | 324,892 | |
Gtd. Notes, 144A | 6.000 | 01/15/27 | 393 | 382,564 | |
Navient Corp., | |||||
Sr. Unsec’d. Notes | 5.500 | 03/15/29 | 163 | 142,702 | |
Sr. Unsec’d. Notes | 6.750 | 06/25/25 | 93 | 93,674 | |
Sr. Unsec’d. Notes | 9.375 | 07/25/30 | 176 | 180,506 | |
OneMain Finance Corp., | |||||
Gtd. Notes | 6.625 | 01/15/28 | 191 | 185,568 | |
Gtd. Notes | 7.125 | 03/15/26 | 399 | 402,226 | |
PennyMac Financial Services, Inc., | |||||
Gtd. Notes, 144A | 4.250 | 02/15/29 | 122 | 105,966 | |
Gtd. Notes, 144A | 5.375 | 10/15/25 | 347 | 337,521 | |
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., | |||||
Gtd. Notes, 144A | 3.625 | 03/01/29 | 99 | 87,216 | |
Gtd. Notes, 144A | 4.000 | 10/15/33 | 138 | 111,505 | |
3,749,264 | |||||
Electric 4.1% | |||||
Calpine Corp., | |||||
Sr. Sec’d. Notes, 144A | 3.750 | 03/01/31 | 333 | 286,793 | |
Sr. Unsec’d. Notes, 144A | 4.625 | 02/01/29 | 445 | 403,460 | |
Sr. Unsec’d. Notes, 144A | 5.000 | 02/01/31 | 283 | 250,450 | |
Sr. Unsec’d. Notes, 144A | 5.125 | 03/15/28 | 636 | 598,654 | |
NRG Energy, Inc., | |||||
Gtd. Notes | 5.750 | 01/15/28 | 112 | 109,374 | |
Gtd. Notes | 6.625 | 01/15/27 | 30 | 29,801 | |
Gtd. Notes, 144A | 3.375 | 02/15/29 | 117 | 100,196 | |
Gtd. Notes, 144A | 3.625 | 02/15/31 | 172 | 141,247 | |
Gtd. Notes, 144A | 3.875 | 02/15/32 | 132 | 107,942 |
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Electric (cont’d.) | |||||
NRG Energy, Inc., (cont’d.) | |||||
Jr. Sub. Notes, 144A | 10.250 %(ff) | 03/15/28(oo) | 461 | $455,609 | |
PG&E Corp., Sr. Sec’d. Notes | 5.250 | 07/01/30 | 128 | 120,289 | |
Vistra Corp., | |||||
Jr. Sub. Notes, 144A | 7.000(ff) | 12/15/26(oo) | 205 | 194,941 | |
Jr. Sub. Notes, 144A | 8.000(ff) | 10/15/26(oo) | 97 | 94,776 | |
Vistra Operations Co. LLC, | |||||
Gtd. Notes, 144A | 4.375 | 05/01/29 | 258 | 233,339 | |
Gtd. Notes, 144A | 5.000 | 07/31/27 | 398 | 379,125 | |
Gtd. Notes, 144A | 5.500 | 09/01/26 | 207 | 203,058 | |
Gtd. Notes, 144A | 5.625 | 02/15/27 | 677 | 660,288 | |
4,369,342 | |||||
Electrical Components & Equipment 0.6% | |||||
Energizer Holdings, Inc., Gtd. Notes, 144A | 4.375 | 03/31/29 | 339 | 292,149 | |
WESCO Distribution, Inc., Gtd. Notes, 144A | 7.250 | 06/15/28 | 388 | 394,354 | |
686,503 | |||||
Electronics 0.2% | |||||
Likewize Corp., Sr. Sec’d. Notes, 144A | 9.750 | 10/15/25 | 232 | 232,549 | |
Engineering & Construction 0.1% | |||||
Brand Industrial Services, Inc., Sr. Sec’d. Notes, 144A | 10.375 | 08/01/30 | 75 | 77,732 | |
TopBuild Corp., Gtd. Notes, 144A | 4.125 | 02/15/32 | 50 | 42,831 | |
120,563 | |||||
Entertainment 3.1% | |||||
Caesars Entertainment, Inc., | |||||
Sr. Sec’d. Notes, 144A | 6.250 | 07/01/25 | 549 | 546,068 | |
Sr. Sec’d. Notes, 144A | 7.000 | 02/15/30 | 489 | 489,616 | |
Sr. Unsec’d. Notes, 144A | 4.625 | 10/15/29 | 288 | 253,023 |
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Entertainment (cont’d.) | |||||
CCM Merger, Inc., Sr. Unsec’d. Notes, 144A | 6.375 % | 05/01/26 | 134 | $128,787 | |
CDI Escrow Issuer, Inc., Sr. Unsec’d. Notes, 144A | 5.750 | 04/01/30 | 75 | 70,463 | |
Churchill Downs, Inc., Gtd. Notes, 144A | 6.750 | 05/01/31 | 50 | 49,124 | |
Golden Entertainment, Inc., Sr. Unsec’d. Notes, 144A | 7.625 | 04/15/26 | 197 | 198,056 | |
Jacobs Entertainment, Inc., Sr. Unsec’d. Notes, 144A | 6.750 | 02/15/29 | 100 | 89,526 | |
Light & Wonder International, Inc., Gtd. Notes, 144A | 7.500 | 09/01/31 | 50 | 50,752 | |
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp., Sr. Sec’d. Notes, 144A | 4.875 | 05/01/29 | 270 | 241,615 | |
Penn Entertainment, Inc., | |||||
Sr. Unsec’d. Notes, 144A | 4.125 | 07/01/29 | 75 | 62,445 | |
Sr. Unsec’d. Notes, 144A | 5.625 | 01/15/27 | 458 | 435,992 | |
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp., Gtd. Notes, 144A | 5.875 | 09/01/31 | 147 | 104,532 | |
Scientific Games Holdings LP/Scientific Games US FinCo, Inc., Sr. Unsec’d. Notes, 144A | 6.625 | 03/01/30 | 331 | 296,409 | |
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., | |||||
Gtd. Notes, 144A | 5.125 | 10/01/29 | 237 | 214,246 | |
Gtd. Notes, 144A | 7.125 | 02/15/31 | 75 | 74,651 | |
3,305,305 | |||||
Environmental Control 0.6% | |||||
Covanta Holding Corp., | |||||
Gtd. Notes | 5.000 | 09/01/30 | 50 | 40,926 | |
Gtd. Notes, 144A | 4.875 | 12/01/29 | 117 | 97,429 | |
GFL Environmental, Inc. (Canada), | |||||
Gtd. Notes, 144A | 4.000 | 08/01/28 | 74 | 66,045 | |
Gtd. Notes, 144A | 4.375 | 08/15/29 | 224 | 197,680 |
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Environmental Control (cont’d.) | |||||
GFL Environmental, Inc. (Canada), (cont’d.) | |||||
Gtd. Notes, 144A | 4.750 % | 06/15/29 | 160 | $146,400 | |
Sr. Sec’d. Notes, 144A | 6.750 | 01/15/31 | 100 | 100,750 | |
649,230 | |||||
Foods 1.9% | |||||
Albertson’s Cos., Inc./Safeway, Inc./New Albertson’s LP/Albertson’s LLC, Gtd. Notes, 144A | 3.500 | 03/15/29 | 147 | 130,306 | |
B&G Foods, Inc., | |||||
Gtd. Notes | 5.250 | 09/15/27 | 487 | 424,079 | |
Sr. Sec’d. Notes, 144A | 8.000 | 09/15/28 | 180 | 183,904 | |
C&S Group Enterprises LLC, Gtd. Notes, 144A | 5.000 | 12/15/28 | 84 | 68,215 | |
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc., | |||||
Gtd. Notes | 3.625 | 01/15/32 | 388 | 317,303 | |
Sr. Unsec’d. Notes | 5.500 | 01/15/30 | 123 | 116,277 | |
Pilgrim’s Pride Corp., | |||||
Gtd. Notes | 3.500 | 03/01/32 | 126 | 102,022 | |
Gtd. Notes | 4.250 | 04/15/31 | 382 | 330,824 | |
Post Holdings, Inc., | |||||
Gtd. Notes, 144A | 4.625 | 04/15/30 | 243 | 217,074 | |
Gtd. Notes, 144A | 5.500 | 12/15/29 | 100 | 94,051 | |
Sr. Unsec’d. Notes, 144A | 4.500 | 09/15/31 | 117 | 101,867 | |
2,085,922 | |||||
Gas 0.2% | |||||
AmeriGas Partners LP/AmeriGas Finance Corp., | |||||
Sr. Unsec’d. Notes | 5.750 | 05/20/27 | 155 | 148,016 | |
Sr. Unsec’d. Notes | 5.875 | 08/20/26 | 103 | 100,327 | |
248,343 | |||||
Healthcare-Products 1.2% | |||||
Embecta Corp., | |||||
Sr. Sec’d. Notes, 144A | 5.000 | 02/15/30 | 228 | 191,570 | |
Sr. Sec’d. Notes, 144A | 6.750 | 02/15/30 | 35 | 30,129 |
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Healthcare-Products (cont’d.) | |||||
Medline Borrower LP, | |||||
Sr. Sec’d. Notes, 144A | 3.875 % | 04/01/29 | 935 | $830,098 | |
Sr. Unsec’d. Notes, 144A | 5.250 | 10/01/29 | 269 | 244,134 | |
1,295,931 | |||||
Healthcare-Services 4.1% | |||||
DaVita, Inc., Gtd. Notes, 144A | 3.750 | 02/15/31 | 1,272 | 995,538 | |
HCA, Inc., Gtd. Notes | 7.500 | 11/06/33 | 75 | 81,698 | |
Legacy LifePoint Health LLC, Sr. Sec’d. Notes, 144A | 4.375 | 02/15/27 | 129 | 112,950 | |
LifePoint Health, Inc., Gtd. Notes, 144A | 5.375 | 01/15/29 | 810 | 531,439 | |
Prime Healthcare Services, Inc., Sr. Sec’d. Notes, 144A | 7.250 | 11/01/25 | 412 | 388,702 | |
RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc., Gtd. Notes, 144A | 9.750 | 12/01/26 | 190 | 184,456 | |
Tenet Healthcare Corp., | |||||
Gtd. Notes | 6.125 | 10/01/28 | 448 | 434,141 | |
Sr. Sec’d. Notes | 4.250 | 06/01/29 | 935 | 837,712 | |
Sr. Sec’d. Notes | 4.375 | 01/15/30 | 756 | 675,675 | |
Sr. Unsec’d. Notes | 6.875 | 11/15/31 | 222 | 221,203 | |
4,463,514 | |||||
Home Builders 3.5% | |||||
Adams Homes, Inc., Sr. Unsec’d. Notes, 144A | 9.250 | 10/15/28 | 100 | 98,156 | |
Ashton Woods USA LLC/Ashton Woods Finance Co., | |||||
Sr. Unsec’d. Notes, 144A | 4.625 | 08/01/29 | 125 | 106,386 | |
Sr. Unsec’d. Notes, 144A | 4.625 | 04/01/30 | 50 | 41,967 | |
Beazer Homes USA, Inc., | |||||
Gtd. Notes | 5.875 | 10/15/27 | 398 | 374,718 | |
Gtd. Notes | 7.250 | 10/15/29 | 331 | 320,137 | |
Brookfield Residential Properties, Inc./Brookfield Residential US LLC (Canada), | |||||
Gtd. Notes, 144A | 4.875 | 02/15/30 | 222 | 187,475 |
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Home Builders (cont’d.) | |||||
Brookfield Residential Properties, Inc./Brookfield Residential US LLC (Canada), (cont’d.) | |||||
Gtd. Notes, 144A | 6.250 % | 09/15/27 | 316 | $297,258 | |
Century Communities, Inc., | |||||
Gtd. Notes | 6.750 | 06/01/27 | 25 | 25,006 | |
Gtd. Notes, 144A | 3.875 | 08/15/29 | 117 | 101,764 | |
Forestar Group, Inc., | |||||
Gtd. Notes, 144A | 3.850 | 05/15/26 | 100 | 93,709 | |
Gtd. Notes, 144A | 5.000 | 03/01/28 | 75 | 69,682 | |
KB Home, | |||||
Gtd. Notes | 4.800 | 11/15/29 | 222 | 202,736 | |
Gtd. Notes | 7.250 | 07/15/30 | 114 | 115,130 | |
M/I Homes, Inc., | |||||
Gtd. Notes | 3.950 | 02/15/30 | 122 | 104,038 | |
Gtd. Notes | 4.950 | 02/01/28 | 25 | 23,748 | |
Mattamy Group Corp. (Canada), | |||||
Sr. Unsec’d. Notes, 144A | 4.625 | 03/01/30 | 172 | 151,145 | |
Sr. Unsec’d. Notes, 144A | 5.250 | 12/15/27 | 420 | 392,700 | |
Shea Homes LP/Shea Homes Funding Corp., | |||||
Sr. Unsec’d. Notes | 4.750 | 02/15/28 | 235 | 218,827 | |
Sr. Unsec’d. Notes | 4.750 | 04/01/29 | 98 | 87,253 | |
STL Holding Co. LLC, Sr. Unsec’d. Notes, 144A | 7.500 | 02/15/26 | 222 | 212,213 | |
Taylor Morrison Communities, Inc., | |||||
Gtd. Notes, 144A | 5.875 | 06/15/27 | 250 | 245,886 | |
Sr. Unsec’d. Notes, 144A | 5.125 | 08/01/30 | 256 | 235,848 | |
Tri Pointe Homes, Inc., | |||||
Gtd. Notes | 5.250 | 06/01/27 | 75 | 72,177 | |
Gtd. Notes | 5.700 | 06/15/28 | 15 | 14,274 | |
3,792,233 | |||||
Home Furnishings 0.2% | |||||
Tempur Sealy International, Inc., Gtd. Notes, 144A | 4.000 | 04/15/29 | 239 | 207,289 | |
Household Products/Wares 0.5% | |||||
ACCO Brands Corp., Gtd. Notes, 144A | 4.250 | 03/15/29 | 377 | 326,068 |
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Household Products/Wares (cont’d.) | |||||
Kronos Acquisition Holdings, Inc./KIK Custom Products, Inc. (Canada), | |||||
Gtd. Notes, 144A | 7.000 % | 12/31/27 | 217 | $200,454 | |
Sr. Sec’d. Notes, 144A | 5.000 | 12/31/26 | 25 | 23,750 | |
550,272 | |||||
Housewares 0.7% | |||||
Scotts Miracle-Gro Co. (The), | |||||
Gtd. Notes | 4.000 | 04/01/31 | 277 | 225,121 | |
Gtd. Notes | 4.375 | 02/01/32 | 188 | 149,322 | |
SWF Escrow Issuer Corp., Sr. Unsec’d. Notes, 144A | 6.500 | 10/01/29 | 640 | 401,785 | |
776,228 | |||||
Insurance 0.2% | |||||
Acrisure LLC/Acrisure Finance, Inc., Sr. Unsec’d. Notes, 144A | 7.000 | 11/15/25 | 132 | 130,370 | |
BroadStreet Partners, Inc., Sr. Unsec’d. Notes, 144A | 5.875 | 04/15/29 | 138 | 125,195 | |
255,565 | |||||
Internet 0.3% | |||||
Gen Digital, Inc., Sr. Unsec’d. Notes, 144A | 5.000 | 04/15/25 | 112 | 111,077 | |
Go Daddy Operating Co. LLC/GD Finance Co., Inc., Gtd. Notes, 144A | 3.500 | 03/01/29 | 217 | 191,354 | |
302,431 | |||||
Iron/Steel 0.5% | |||||
ATI, Inc., Sr. Unsec’d. Notes | 7.250 | 08/15/30 | 50 | 50,533 | |
Big River Steel LLC/BRS Finance Corp., Sr. Sec’d. Notes, 144A | 6.625 | 01/31/29 | 98 | 98,290 | |
Cleveland-Cliffs, Inc., Gtd. Notes, 144A | 6.750 | 04/15/30 | 186 | 181,042 |
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Iron/Steel (cont’d.) | |||||
Commercial Metals Co., Sr. Unsec’d. Notes | 4.375 % | 03/15/32 | 100 | $85,529 | |
Mineral Resources Ltd. (Australia), Sr. Unsec’d. Notes, 144A | 9.250 | 10/01/28 | 100 | 103,420 | |
518,814 | |||||
Leisure Time 4.1% | |||||
Carnival Corp., | |||||
Gtd. Notes, 144A | 5.750 | 03/01/27 | 880 | 833,800 | |
Gtd. Notes, 144A | 6.000 | 05/01/29 | 378 | 347,760 | |
Gtd. Notes, 144A | 7.625 | 03/01/26 | 146 | 146,794 | |
Sr. Sec’d. Notes, 144A | 4.000 | 08/01/28 | 195 | 175,744 | |
Lindblad Expeditions Holdings, Inc., Sr. Sec’d. Notes, 144A | 9.000 | 05/15/28 | 112 | 112,748 | |
NCL Corp. Ltd., | |||||
Gtd. Notes, 144A | 5.875 | 03/15/26 | 530 | 502,175 | |
Sr. Sec’d. Notes, 144A | 5.875 | 02/15/27 | 139 | 134,222 | |
Sr. Sec’d. Notes, 144A | 8.125 | 01/15/29 | 50 | 50,750 | |
Sr. Sec’d. Notes, 144A | 8.375 | 02/01/28 | 108 | 111,308 | |
Sr. Unsec’d. Notes, 144A | 7.750 | 02/15/29 | 157 | 148,365 | |
NCL Finance Ltd., Gtd. Notes, 144A | 6.125 | 03/15/28 | 230 | 208,437 | |
Royal Caribbean Cruises Ltd., | |||||
Gtd. Notes, 144A | 7.250 | 01/15/30 | 157 | 159,747 | |
Gtd. Notes, 144A | 9.250 | 01/15/29 | 172 | 183,010 | |
Sr. Sec’d. Notes, 144A | 8.250 | 01/15/29 | 243 | 253,327 | |
Sr. Unsec’d. Notes, 144A | 5.375 | 07/15/27 | 171 | 163,305 | |
Sr. Unsec’d. Notes, 144A | 5.500 | 08/31/26 | 50 | 48,495 | |
Sr. Unsec’d. Notes, 144A | 5.500 | 04/01/28 | 261 | 248,602 | |
Sr. Unsec’d. Notes, 144A | 11.625 | 08/15/27 | 40 | 43,310 | |
Viking Cruises Ltd., | |||||
Gtd. Notes, 144A | 5.875 | 09/15/27 | 75 | 70,688 | |
Sr. Unsec’d. Notes, 144A | 9.125 | 07/15/31 | 179 | 187,055 | |
Viking Ocean Cruises Ship VII Ltd., Sr. Sec’d. Notes, 144A | 5.625 | 02/15/29 | 195 | 180,375 |
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Leisure Time (cont’d.) | |||||
Vista Outdoor, Inc., Gtd. Notes, 144A | 4.500 % | 03/15/29 | 50 | $47,707 | |
VOC Escrow Ltd., Sr. Sec’d. Notes, 144A | 5.000 | 02/15/28 | 75 | 69,933 | |
4,427,657 | |||||
Lodging 1.4% | |||||
Boyd Gaming Corp., Gtd. Notes, 144A | 4.750 | 06/15/31 | 75 | 66,432 | |
Hilton Domestic Operating Co., Inc., Gtd. Notes, 144A | 3.625 | 02/15/32 | 243 | 204,116 | |
MGM Resorts International, | |||||
Gtd. Notes | 4.625 | 09/01/26 | 77 | 73,978 | |
Gtd. Notes | 4.750 | 10/15/28 | 423 | 391,371 | |
Gtd. Notes | 5.500 | 04/15/27 | 228 | 220,951 | |
Wynn Macau Ltd. (Macau), | |||||
Sr. Unsec’d. Notes, 144A | 5.500 | 01/15/26 | 225 | 212,906 | |
Sr. Unsec’d. Notes, 144A | 5.625 | 08/26/28 | 400 | 353,546 | |
1,523,300 | |||||
Machinery-Construction & Mining 0.3% | |||||
Terex Corp., Gtd. Notes, 144A | 5.000 | 05/15/29 | 370 | 339,176 | |
Machinery-Diversified 0.8% | |||||
Chart Industries, Inc., | |||||
Gtd. Notes, 144A | 9.500 | 01/01/31 | 151 | 161,207 | |
Sr. Sec’d. Notes, 144A | 7.500 | 01/01/30 | 195 | 198,930 | |
GrafTech Finance, Inc., Sr. Sec’d. Notes, 144A | 4.625 | 12/15/28 | 162 | 108,364 | |
Maxim Crane Works Holdings Capital LLC, Sec’d. Notes, 144A | 11.500 | 09/01/28 | 147 | 146,755 | |
TK Elevator US Newco, Inc. (Germany), Sr. Sec’d. Notes, 144A | 5.250 | 07/15/27 | 250 | 236,875 | |
852,131 |
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Media 7.8% | |||||
AMC Networks, Inc., Gtd. Notes | 5.000 % | 04/01/24 | 16 | $15,988 | |
CCO Holdings LLC/CCO Holdings Capital Corp., | |||||
Sr. Unsec’d. Notes | 4.500 | 05/01/32 | 760 | 625,319 | |
Sr. Unsec’d. Notes, 144A | 4.250 | 02/01/31 | 825 | 688,752 | |
Sr. Unsec’d. Notes, 144A | 4.250 | 01/15/34 | 662 | 516,642 | |
Sr. Unsec’d. Notes, 144A | 4.500 | 06/01/33 | 505 | 404,475 | |
Sr. Unsec’d. Notes, 144A | 4.750 | 02/01/32 | 367 | 308,206 | |
Sr. Unsec’d. Notes, 144A | 5.000 | 02/01/28 | 50 | 46,839 | |
Sr. Unsec’d. Notes, 144A | 5.125 | 05/01/27 | 50 | 47,577 | |
Sr. Unsec’d. Notes, 144A | 5.375 | 06/01/29 | 400 | 370,981 | |
Sr. Unsec’d. Notes, 144A | 5.500 | 05/01/26 | 122 | 119,295 | |
CSC Holdings LLC, | |||||
Gtd. Notes, 144A | 3.375 | 02/15/31 | 200 | 137,255 | |
Gtd. Notes, 144A | 4.125 | 12/01/30 | 200 | 143,132 | |
Gtd. Notes, 144A | 4.500 | 11/15/31 | 200 | 142,154 | |
Gtd. Notes, 144A | 5.375 | 02/01/28 | 680 | 581,403 | |
Gtd. Notes, 144A | 5.500 | 04/15/27 | 200 | 177,406 | |
Sr. Unsec’d. Notes, 144A | 5.750 | 01/15/30 | 500 | 283,114 | |
Diamond Sports Group LLC/Diamond Sports Finance Co., | |||||
Gtd. Notes, 144A (original cost $565,303; purchased 07/18/19 - 06/03/22)(f) | 6.625 | 08/15/27(d) | 1,251 | 29,551 | |
Sec’d. Notes, 144A (original cost $507,220; purchased 07/18/19 - 08/30/22)(f) | 5.375 | 08/15/26(d) | 1,235 | 30,304 | |
DISH DBS Corp., | |||||
Gtd. Notes | 5.125 | 06/01/29 | 614 | 280,178 | |
Gtd. Notes | 7.375 | 07/01/28 | 833 | 416,161 | |
Gtd. Notes | 7.750 | 07/01/26 | 275 | 163,912 | |
DISH Network Corp., Sr. Sec’d. Notes, 144A | 11.750 | 11/15/27 | 285 | 283,003 | |
Gray Television, Inc., Gtd. Notes, 144A | 5.875 | 07/15/26 | 399 | 376,745 | |
iHeartCommunications, Inc., Sr. Sec’d. Notes | 6.375 | 05/01/26 | 100 | 85,117 | |
News Corp., Sr. Unsec’d. Notes, 144A | 3.875 | 05/15/29 | 25 | 22,245 | |
Nexstar Media, Inc., | |||||
Gtd. Notes, 144A | 4.750 | 11/01/28 | 41 | 36,273 | |
Gtd. Notes, 144A | 5.625 | 07/15/27 | 147 | 139,209 |
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Media (cont’d.) | |||||
Radiate Holdco LLC/Radiate Finance, Inc., | |||||
Sr. Sec’d. Notes, 144A | 4.500 % | 09/15/26 | 226 | $168,163 | |
Sr. Unsec’d. Notes, 144A | 6.500 | 09/15/28 | 826 | 387,057 | |
Sinclair Television Group, Inc., Gtd. Notes, 144A | 5.125 | 02/15/27 | 340 | 296,356 | |
Univision Communications, Inc., | |||||
Sr. Sec’d. Notes, 144A | 4.500 | 05/01/29 | 176 | 154,376 | |
Sr. Sec’d. Notes, 144A | 5.125 | 02/15/25 | 320 | 316,728 | |
Sr. Sec’d. Notes, 144A | 6.625 | 06/01/27 | 371 | 365,627 | |
VZ Secured Financing BV (Netherlands), Sr. Sec’d. Notes, 144A | 5.000 | 01/15/32 | 250 | 205,000 | |
8,364,543 | |||||
Mining 1.5% | |||||
Arsenal AIC Parent LLC, Sr. Sec’d. Notes, 144A | 8.000 | 10/01/30 | 50 | 51,125 | |
Eldorado Gold Corp. (Turkey), Sr. Unsec’d. Notes, 144A | 6.250 | 09/01/29 | 292 | 261,632 | |
First Quantum Minerals Ltd. (Zambia), | |||||
Gtd. Notes, 144A | 6.875 | 10/15/27 | 200 | 159,660 | |
Gtd. Notes, 144A | 8.625 | 06/01/31 | 200 | 159,500 | |
Hecla Mining Co., Gtd. Notes | 7.250 | 02/15/28 | 75 | 74,312 | |
Hudbay Minerals, Inc. (Canada), | |||||
Gtd. Notes, 144A | 4.500 | 04/01/26 | 103 | 97,979 | |
Gtd. Notes, 144A | 6.125 | 04/01/29 | 369 | 349,129 | |
New Gold, Inc. (Canada), Gtd. Notes, 144A | 7.500 | 07/15/27 | 277 | 269,036 | |
Novelis Corp., | |||||
Gtd. Notes, 144A | 3.875 | 08/15/31 | 100 | 84,617 | |
Gtd. Notes, 144A | 4.750 | 01/30/30 | 125 | 113,577 | |
1,620,567 |
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Miscellaneous Manufacturing 0.4% | |||||
Amsted Industries, Inc., Sr. Unsec’d. Notes, 144A | 4.625 % | 05/15/30 | 345 | $297,744 | |
Trinity Industries, Inc., Gtd. Notes, 144A | 7.750 | 07/15/28 | 100 | 102,000 | |
399,744 | |||||
Oil & Gas 7.3% | |||||
Aethon United BR LP/Aethon United Finance Corp., Sr. Unsec’d. Notes, 144A | 8.250 | 02/15/26 | 100 | 100,752 | |
Alta Mesa Holdings LP/Alta Mesa Finance Services Corp., Gtd. Notes | 7.875 | 12/15/24(d) | 310 | 31 | |
Antero Resources Corp., Gtd. Notes, 144A | 5.375 | 03/01/30 | 458 | 429,338 | |
Ascent Resources Utica Holdings LLC/ARU Finance Corp., | |||||
Gtd. Notes, 144A | 7.000 | 11/01/26 | 296 | 292,242 | |
Gtd. Notes, 144A | 9.000 | 11/01/27 | 94 | 119,006 | |
Sr. Unsec’d. Notes, 144A | 8.250 | 12/31/28 | 27 | 27,120 | |
Athabasca Oil Corp. (Canada), Sec’d. Notes, 144A | 9.750 | 11/01/26 | 213 | 219,124 | |
Chesapeake Energy Corp., | |||||
Gtd. Notes, 144A | 5.875 | 02/01/29 | 601 | 579,203 | |
Gtd. Notes, 144A | 6.750 | 04/15/29 | 68 | 67,867 | |
CITGO Petroleum Corp., Sr. Sec’d. Notes, 144A | 7.000 | 06/15/25 | 353 | 349,636 | |
Civitas Resources, Inc., | |||||
Gtd. Notes, 144A | 8.375 | 07/01/28 | 100 | 102,397 | |
Gtd. Notes, 144A | 8.625 | 11/01/30 | 225 | 233,437 | |
CNX Resources Corp., Gtd. Notes, 144A | 7.250 | 03/14/27 | 276 | 274,714 | |
Comstock Resources, Inc., | |||||
Gtd. Notes, 144A | 5.875 | 01/15/30 | 124 | 107,715 | |
Gtd. Notes, 144A | 6.750 | 03/01/29 | 107 | 98,566 | |
Crescent Energy Finance LLC, | |||||
Gtd. Notes, 144A | 7.250 | 05/01/26 | 74 | 73,516 | |
Gtd. Notes, 144A | 9.250 | 02/15/28 | 221 | 228,312 | |
CrownRock LP/CrownRock Finance, Inc., | |||||
Sr. Unsec’d. Notes, 144A | 5.000 | 05/01/29 | 16 | 15,362 |
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Oil & Gas (cont’d.) | |||||
CrownRock LP/CrownRock Finance, Inc., (cont’d.) | |||||
Sr. Unsec’d. Notes, 144A | 5.625 % | 10/15/25 | 25 | $24,804 | |
Diamond Foreign Asset Co./Diamond Finance LLC, Sec’d. Notes, 144A | 8.500 | 10/01/30 | 50 | 50,000 | |
Hilcorp Energy I LP/Hilcorp Finance Co., | |||||
Sr. Unsec’d. Notes, 144A | 5.750 | 02/01/29 | 204 | 191,722 | |
Sr. Unsec’d. Notes, 144A | 6.000 | 04/15/30 | 258 | 240,719 | |
Sr. Unsec’d. Notes, 144A | 6.000 | 02/01/31 | 369 | 342,346 | |
Sr. Unsec’d. Notes, 144A | 6.250 | 11/01/28 | 165 | 160,689 | |
Sr. Unsec’d. Notes, 144A | 6.250 | 04/15/32 | 100 | 92,421 | |
Sr. Unsec’d. Notes, 144A | 8.375 | 11/01/33 | 67 | 69,022 | |
MEG Energy Corp. (Canada), Gtd. Notes, 144A | 5.875 | 02/01/29 | 197 | 188,135 | |
Nabors Industries Ltd., | |||||
Gtd. Notes, 144A | 7.250 | 01/15/26 | 187 | 178,118 | |
Gtd. Notes, 144A | 7.500 | 01/15/28 | 283 | 250,455 | |
Nabors Industries, Inc., | |||||
Gtd. Notes | 5.750 | 02/01/25 | 243 | 242,738 | |
Gtd. Notes, 144A | 9.125 | 01/31/30 | 255 | 255,678 | |
Noble Finance II LLC, Gtd. Notes, 144A | 8.000 | 04/15/30 | 50 | 51,340 | |
Parkland Corp. (Canada), | |||||
Gtd. Notes, 144A | 4.500 | 10/01/29 | 227 | 202,881 | |
Gtd. Notes, 144A | 4.625 | 05/01/30 | 193 | 171,616 | |
Permian Resources Operating LLC, Gtd. Notes, 144A | 7.000 | 01/15/32 | 75 | 75,193 | |
Precision Drilling Corp. (Canada), | |||||
Gtd. Notes, 144A | 6.875 | 01/15/29 | 49 | 46,371 | |
Gtd. Notes, 144A | 7.125 | 01/15/26 | 50 | 49,746 | |
Range Resources Corp., | |||||
Gtd. Notes | 4.875 | 05/15/25 | 100 | 98,414 | |
Gtd. Notes, 144A | 4.750 | 02/15/30 | 110 | 100,532 | |
Southwestern Energy Co., | |||||
Gtd. Notes | 4.750 | 02/01/32 | 777 | 694,187 | |
Gtd. Notes | 5.375 | 02/01/29 | 25 | 23,796 | |
Gtd. Notes | 5.375 | 03/15/30 | 105 | 99,650 | |
Sunoco LP/Sunoco Finance Corp., | |||||
Gtd. Notes | 4.500 | 05/15/29 | 172 | 157,075 | |
Gtd. Notes | 4.500 | 04/30/30 | 141 | 126,862 | |
Gtd. Notes | 5.875 | 03/15/28 | 184 | 180,335 |
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Oil & Gas (cont’d.) | |||||
Transocean, Inc., Gtd. Notes, 144A | 7.250 % | 11/01/25 | 60 | $59,025 | |
Valaris Ltd., Sec’d. Notes, 144A | 8.375 | 04/30/30 | 50 | 50,250 | |
Vital Energy, Inc., | |||||
Gtd. Notes | 9.750 | 10/15/30 | 50 | 50,112 | |
Gtd. Notes | 10.125 | 01/15/28 | 25 | 25,465 | |
7,868,035 | |||||
Packaging & Containers 1.9% | |||||
ARD Finance SA (Luxembourg), Sr. Sec’d. Notes, 144A, Cash coupon 6.500% or PIK 7.250% | 6.500 | 06/30/27 | 200 | 103,250 | |
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, Sr. Unsec’d. Notes, 144A | 4.000 | 09/01/29 | 200 | 159,000 | |
Graham Packaging Co., Inc., Gtd. Notes, 144A | 7.125 | 08/15/28 | 85 | 74,822 | |
Intelligent Packaging Holdco Issuer LP (Canada), Sr. Unsec’d. Notes, 144A, Cash coupon 9.000% or PIK 9.750% | 9.000 | 01/15/26 | 75 | 63,375 | |
Intelligent Packaging Ltd. Finco, Inc./Intelligent Packaging Ltd. Co-Issuer LLC (Canada), Sr. Sec’d. Notes, 144A | 6.000 | 09/15/28 | 395 | 354,106 | |
LABL, Inc., | |||||
Sr. Sec’d. Notes, 144A | 5.875 | 11/01/28 | 147 | 128,304 | |
Sr. Sec’d. Notes, 144A | 9.500 | 11/01/28 | 50 | 48,647 | |
Sr. Unsec’d. Notes, 144A | 8.250 | 11/01/29 | 172 | 137,618 | |
Sr. Unsec’d. Notes, 144A | 10.500 | 07/15/27 | 230 | 208,976 | |
Mauser Packaging Solutions Holding Co., Sr. Sec’d. Notes, 144A | 7.875 | 08/15/26 | 100 | 99,347 | |
OI European Group BV, Gtd. Notes, 144A | 4.750 | 02/15/30 | 25 | 22,438 | |
Owens-Brockway Glass Container, Inc., | |||||
Gtd. Notes, 144A | 6.375 | 08/15/25 | 60 | 59,942 | |
Gtd. Notes, 144A | 6.625 | 05/13/27 | 25 | 24,743 | |
Gtd. Notes, 144A | 7.250 | 05/15/31 | 75 | 74,426 | |
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Packaging & Containers (cont’d.) | |||||
Pactiv Evergreen Group Issuer LLC/Pactiv Evergreen Group Issuer, Inc., Sr. Sec’d. Notes, 144A | 4.375 % | 10/15/28 | 50 | $45,517 | |
Sealed Air Corp./Sealed Air Corp. US, Gtd. Notes, 144A | 6.125 | 02/01/28 | 25 | 24,718 | |
Trident TPI Holdings, Inc., Gtd. Notes, 144A | 12.750 | 12/31/28 | 314 | 331,317 | |
TriMas Corp., Gtd. Notes, 144A | 4.125 | 04/15/29 | 50 | 43,588 | |
2,004,134 | |||||
Pharmaceuticals 1.8% | |||||
AdaptHealth LLC, | |||||
Gtd. Notes, 144A | 4.625 | 08/01/29 | 167 | 131,949 | |
Gtd. Notes, 144A | 5.125 | 03/01/30 | 257 | 204,589 | |
Gtd. Notes, 144A | 6.125 | 08/01/28 | 243 | 208,327 | |
Bausch Health Americas, Inc., Gtd. Notes, 144A | 8.500 | 01/31/27 | 294 | 144,789 | |
Bausch Health Cos., Inc., | |||||
Gtd. Notes, 144A | 6.250 | 02/15/29 | 1,400 | 495,250 | |
Sr. Sec’d. Notes, 144A | 4.875 | 06/01/28 | 150 | 76,398 | |
Organon & Co./Organon Foreign Debt Co-Issuer BV, Sr. Unsec’d. Notes, 144A | 5.125 | 04/30/31 | 600 | 472,548 | |
P&L Development LLC/PLD Finance Corp., Sr. Sec’d. Notes, 144A | 7.750 | 11/15/25 | 248 | 162,112 | |
1,895,962 | |||||
Pipelines 3.9% | |||||
Antero Midstream Partners LP/Antero Midstream Finance Corp., | |||||
Gtd. Notes, 144A | 5.375 | 06/15/29 | 111 | 104,393 | |
Gtd. Notes, 144A | 5.750 | 03/01/27 | 243 | 238,146 | |
Gtd. Notes, 144A | 5.750 | 01/15/28 | 129 | 124,942 | |
Gtd. Notes, 144A | 7.875 | 05/15/26 | 195 | 199,210 | |
Cheniere Energy Partners LP, | |||||
Gtd. Notes | 4.000 | 03/01/31 | 122 | 107,454 | |
Gtd. Notes | 4.500 | 10/01/29 | 25 | 23,315 | |
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Pipelines (cont’d.) | |||||
Cheniere Energy, Inc., Sr. Sec’d. Notes | 4.625 % | 10/15/28 | 208 | $198,020 | |
CNX Midstream Partners LP, Gtd. Notes, 144A | 4.750 | 04/15/30 | 25 | 21,780 | |
Energy Transfer LP, Jr. Sub. Notes, Series G | 7.125(ff) | 05/15/30(oo) | 50 | 44,322 | |
EQM Midstream Partners LP, | |||||
Sr. Unsec’d. Notes | 5.500 | 07/15/28 | 25 | 24,303 | |
Sr. Unsec’d. Notes, 144A | 6.000 | 07/01/25 | 129 | 128,020 | |
Sr. Unsec’d. Notes, 144A | 6.500 | 07/01/27 | 45 | 45,113 | |
Sr. Unsec’d. Notes, 144A | 7.500 | 06/01/27 | 67 | 68,500 | |
Sr. Unsec’d. Notes, 144A | 7.500 | 06/01/30 | 65 | 67,044 | |
Global Partners LP/GLP Finance Corp., Gtd. Notes | 6.875 | 01/15/29 | 188 | 174,990 | |
Howard Midstream Energy Partners LLC, Sr. Unsec’d. Notes, 144A | 8.875 | 07/15/28 | 50 | 52,259 | |
Rockies Express Pipeline LLC, | |||||
Sr. Unsec’d. Notes, 144A | 6.875 | 04/15/40 | 121 | 110,302 | |
Sr. Unsec’d. Notes, 144A | 7.500 | 07/15/38 | 158 | 154,232 | |
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., | |||||
Gtd. Notes, 144A | 5.500 | 01/15/28 | 163 | 150,939 | |
Gtd. Notes, 144A | 6.000 | 03/01/27 | 138 | 132,572 | |
Gtd. Notes, 144A | 6.000 | 12/31/30 | 105 | 95,322 | |
Gtd. Notes, 144A | 6.000 | 09/01/31 | 50 | 45,093 | |
Gtd. Notes, 144A | 7.500 | 10/01/25 | 100 | 100,794 | |
Venture Global Calcasieu Pass LLC, | |||||
Sr. Sec’d. Notes, 144A | 3.875 | 08/15/29 | 237 | 208,153 | |
Sr. Sec’d. Notes, 144A | 4.125 | 08/15/31 | 172 | 148,397 | |
Sr. Sec’d. Notes, 144A | 6.250 | 01/15/30 | 74 | 72,944 | |
Venture Global LNG, Inc., | |||||
Sr. Sec’d. Notes, 144A | 9.500 | 02/01/29 | 500 | 516,393 | |
Sr. Sec’d. Notes, 144A | 9.875 | 02/01/32 | 800 | 819,571 | |
4,176,523 | |||||
Real Estate 1.3% | |||||
Five Point Operating Co. LP/Five Point Capital Corp., Gtd. Notes, 144A | 7.875 | 11/15/25 | 289 | 276,877 |
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Real Estate (cont’d.) | |||||
Greystar Real Estate Partners LLC, Sr. Sec’d. Notes, 144A | 7.750 % | 09/01/30 | 50 | $50,863 | |
Howard Hughes Corp. (The), | |||||
Gtd. Notes, 144A | 4.125 | 02/01/29 | 122 | 104,739 | |
Gtd. Notes, 144A | 4.375 | 02/01/31 | 222 | 184,382 | |
Gtd. Notes, 144A | 5.375 | 08/01/28 | 268 | 251,207 | |
Hunt Cos., Inc., Sr. Sec’d. Notes, 144A | 5.250 | 04/15/29 | 468 | 402,253 | |
Realogy Group LLC/Realogy Co-Issuer Corp., Gtd. Notes, 144A | 5.250 | 04/15/30 | 130 | 87,911 | |
1,358,232 | |||||
Real Estate Investment Trusts (REITs) 1.2% | |||||
Diversified Healthcare Trust, | |||||
Gtd. Notes | 4.375 | 03/01/31 | 218 | 155,373 | |
Gtd. Notes | 9.750 | 06/15/25 | 167 | 165,708 | |
Sr. Unsec’d. Notes | 4.750 | 05/01/24 | 259 | 246,211 | |
Sr. Unsec’d. Notes | 4.750 | 02/15/28 | 97 | 70,861 | |
MPT Operating Partnership LP/MPT Finance Corp., | |||||
Gtd. Notes | 3.500 | 03/15/31 | 208 | 128,376 | |
Gtd. Notes | 4.625 | 08/01/29 | 140 | 100,068 | |
Gtd. Notes | 5.000 | 10/15/27 | 134 | 107,020 | |
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer, Sr. Sec’d. Notes, 144A | 7.500 | 06/01/25 | 279 | 280,688 | |
RHP Hotel Properties LP/RHP Finance Corp., Gtd. Notes, 144A | 4.500 | 02/15/29 | 86 | 77,598 | |
1,331,903 | |||||
Retail 4.9% | |||||
1011778 BC ULC/New Red Finance, Inc. (Canada), | |||||
Sec’d. Notes, 144A | 4.000 | 10/15/30 | 177 | 152,220 | |
Sec’d. Notes, 144A | 4.375 | 01/15/28 | 100 | 92,644 | |
Sr. Sec’d. Notes, 144A | 3.875 | 01/15/28 | 258 | 237,489 | |
Arko Corp., Gtd. Notes, 144A | 5.125 | 11/15/29 | 75 | 62,562 | |
At Home Group, Inc., Gtd. Notes, 144A | 7.125 | 07/15/29 | 126 | 21,729 |
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Retail (cont’d.) | |||||
BCPE Ulysses Intermediate, Inc., Sr. Unsec’d. Notes, 144A, Cash coupon 7.750% or PIK 8.500% | 7.750 % | 04/01/27 | 50 | $44,462 | |
Beacon Roofing Supply, Inc., Sr. Sec’d. Notes, 144A | 6.500 | 08/01/30 | 25 | 24,978 | |
Brinker International, Inc., Gtd. Notes, 144A | 8.250 | 07/15/30 | 293 | 294,396 | |
Carrols Restaurant Group, Inc., Gtd. Notes, 144A | 5.875 | 07/01/29 | 112 | 98,027 | |
eG Global Finance PLC (United Kingdom), Sr. Sec’d. Notes, 144A | 12.000 | 11/30/28 | 425 | 440,937 | |
Ferrellgas LP/Ferrellgas Finance Corp., | |||||
Sr. Unsec’d. Notes, 144A (original cost $23,188; purchased 08/04/22)(f) | 5.375 | 04/01/26 | 25 | 23,887 | |
Sr. Unsec’d. Notes, 144A (original cost $66,625; purchased 08/02/22 - 08/15/22)(f) | 5.875 | 04/01/29 | 75 | 69,040 | |
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc., | |||||
Gtd. Notes, 144A | 6.750 | 01/15/30 | 403 | 340,059 | |
Sr. Sec’d. Notes, 144A | 4.625 | 01/15/29 | 312 | 276,823 | |
Foundation Building Materials, Inc., Gtd. Notes, 144A | 6.000 | 03/01/29 | 147 | 126,062 | |
Gap, Inc. (The), | |||||
Gtd. Notes, 144A | 3.625 | 10/01/29 | 140 | 115,140 | |
Gtd. Notes, 144A | 3.875 | 10/01/31 | 283 | 223,608 | |
LBM Acquisition LLC, Gtd. Notes, 144A | 6.250 | 01/15/29 | 287 | 240,704 | |
LCM Investments Holdings II LLC, | |||||
Sr. Unsec’d. Notes, 144A | 4.875 | 05/01/29 | 436 | 380,867 | |
Sr. Unsec’d. Notes, 144A | 8.250 | 08/01/31 | 99 | 99,797 | |
Park River Holdings, Inc., | |||||
Gtd. Notes, 144A | 5.625 | 02/01/29 | 122 | 92,568 | |
Sr. Unsec’d. Notes, 144A | 6.750 | 08/01/29 | 157 | 119,792 | |
Patrick Industries, Inc., | |||||
Gtd. Notes, 144A | 4.750 | 05/01/29 | 75 | 64,944 | |
Gtd. Notes, 144A | 7.500 | 10/15/27 | 50 | 49,830 | |
Sally Holdings LLC/Sally Capital, Inc., Gtd. Notes | 5.625 | 12/01/25 | 297 | 292,437 | |
SRS Distribution, Inc., Gtd. Notes, 144A | 6.000 | 12/01/29 | 286 | 250,289 |
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Retail (cont’d.) | |||||
Suburban Propane Partners LP/Suburban Energy Finance Corp., | |||||
Sr. Unsec’d. Notes | 5.875 % | 03/01/27 | 153 | $152,180 | |
Sr. Unsec’d. Notes, 144A | 5.000 | 06/01/31 | 400 | 354,038 | |
Superior Plus LP/Superior General Partner, Inc. (Canada), Gtd. Notes, 144A | 4.500 | 03/15/29 | 332 | 292,575 | |
White Cap Buyer LLC, Sr. Unsec’d. Notes, 144A | 6.875 | 10/15/28 | 268 | 245,308 | |
5,279,392 | |||||
Software 0.8% | |||||
Black Knight InfoServ LLC, Gtd. Notes, 144A | 3.625 | 09/01/28 | 514 | 479,399 | |
Boxer Parent Co., Inc., Sr. Sec’d. Notes, 144A | 7.125 | 10/02/25 | 50 | 49,923 | |
Camelot Finance SA, Sr. Sec’d. Notes, 144A | 4.500 | 11/01/26 | 122 | 115,747 | |
Clarivate Science Holdings Corp., Gtd. Notes, 144A | 4.875 | 07/01/29 | 265 | 237,190 | |
882,259 | |||||
Telecommunications 2.6% | |||||
Altice France SA (France), Sr. Sec’d. Notes, 144A | 8.125 | 02/01/27 | 250 | 214,532 | |
Digicel Group Holdings Ltd. (Jamaica), | |||||
Sr. Sec’d. Notes, Series 1A14, 144A (original cost $58,331; purchased 11/14/23)^(f) | 0.000(s) | 12/31/30 | 52 | 58,331 | |
Sr. Sec’d. Notes, Series 1B14, 144A (original cost $12; purchased 11/14/23)^(f) | 0.000(s) | 12/31/30 | 117 | — | |
Sr. Sec’d. Notes, Series 3A14, 144A (original cost $249; purchased 11/14/23)^(f) | 0.000(s) | 12/31/30 | —(r) | 249 | |
Sr. Sec’d. Notes, Series 3B14, 144A (original cost $0; purchased 11/14/23)^(f) | 0.000(s) | 12/31/30 | 5 | — | |
Digicel International Finance Ltd./Digicel International Holdings Ltd. (Jamaica), | |||||
Gtd. Notes, 144A (original cost $192,000; purchased 10/13/21)(f) | 8.000 | 12/31/26(d) | 200 | 4,000 |
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Telecommunications (cont’d.) | |||||
Digicel International Finance Ltd./Digicel International Holdings Ltd. (Jamaica), (cont’d.) | |||||
Gtd. Notes, 144A, Cash coupon 13.000% (original cost $260,880; purchased 10/18/23)(f) | 13.000 % | 12/31/25(d) | 372 | $253,249 | |
Sr. Sec’d. Notes, 144A (original cost $226,008; purchased 09/07/23)(f) | 8.750 | 05/25/24 | 250 | 230,000 | |
Digicel Ltd. (Jamaica), Gtd. Notes, 144A | 6.750 | 03/01/23(d) | 525 | 10,500 | |
Iliad Holding SASU (France), Sr. Sec’d. Notes, 144A | 7.000 | 10/15/28 | 200 | 190,900 | |
Intelsat Jackson Holdings SA (Luxembourg), Sr. Sec’d. Notes, 144A | 6.500 | 03/15/30 | 493 | 455,157 | |
Level 3 Financing, Inc., | |||||
Gtd. Notes, 144A | 4.250 | 07/01/28 | 752 | 421,120 | |
Gtd. Notes, 144A | 4.625 | 09/15/27 | 25 | 15,250 | |
Sr. Sec’d. Notes, 144A | 3.400 | 03/01/27 | 25 | 23,625 | |
Sr. Sec’d. Notes, 144A | 10.500 | 05/15/30 | 50 | 46,377 | |
Sprint Capital Corp., Gtd. Notes | 8.750 | 03/15/32 | 106 | 126,638 | |
Sprint LLC, Gtd. Notes | 7.625 | 03/01/26 | 228 | 236,487 | |
Viasat, Inc., | |||||
Sr. Unsec’d. Notes, 144A | 5.625 | 09/15/25 | 402 | 386,207 | |
Sr. Unsec’d. Notes, 144A | 7.500 | 05/30/31 | 131 | 94,091 | |
2,766,713 | |||||
Transportation 0.1% | |||||
RXO, Inc., Gtd. Notes, 144A | 7.500 | 11/15/27 | 50 | 51,311 | |
XPO, Inc., Gtd. Notes, 144A | 7.125 | 06/01/31 | 25 | 25,259 | |
76,570 | |||||
Trucking & Leasing 0.1% | |||||
Fortress Transportation & Infrastructure Investors LLC, Gtd. Notes, 144A | 5.500 | 05/01/28 | 57 | 53,547 | |
Total Corporate Bonds (cost $100,907,376) | 91,253,846 |
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Floating Rate and Other Loans 1.2% | |||||
Airlines 0.1% | |||||
United Airlines, Inc., Class B Term Loan, 1 Month SOFR + 3.864% | 9.207 %(c) | 04/21/28 | 120 | $119,939 | |
Chemicals 0.1% | |||||
Venator Finance Sarl, Term Loan, 3 Month SOFR + 10.000% | 15.426(c) | 10/12/28 | 121 | 118,507 | |
Venator Materials LLC, Delayed Draw Term Loan, 1 Month SOFR + 8.000% | 15.426(c) | 10/12/28 | 13 | 12,447 | |
130,954 | |||||
Electric 0.0% | |||||
Heritage Power LLC, Term Loan^ | —(p) | 07/20/26(d) | 15 | 15,439 | |
Insurance 0.2% | |||||
Acrisure LLC, 2021-1 Additional Term Loan, 3 Month LIBOR + 3.750% | 9.400(c) | 02/15/27 | 99 | 98,746 | |
Asurion LLC, New B-4 Term Loan, 1 Month SOFR + 5.364% | 10.713(c) | 01/20/29 | 165 | 145,381 | |
244,127 | |||||
Media 0.2% | |||||
Diamond Sports Group LLC, | |||||
First Lien Term Loan, 1 Month SOFR + 10.100% | 12.775(c) | 05/25/26 | 139 | 100,108 | |
Second Lien Term Loan | 8.175 | 08/24/26 | 437 | 8,928 | |
Radiate Holdco LLC, Amendment No. 6 Term Loan, 1 Month SOFR + 3.364% | 8.713(c) | 09/25/26 | 89 | 68,689 | |
177,725 | |||||
Retail 0.1% | |||||
Great Outdoors Group LLC, Term B-2 Loan, 3 Month SOFR + 4.012% | 9.402(c) | 03/06/28 | 49 | 48,193 |
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Floating Rate and Other Loans (Continued) | |||||
Software 0.2% | |||||
Boxer Parent Co., Inc., Second Lien Incremental Term Loan, 1 Month SOFR + 5.614% | 10.963 %(c) | 02/27/26 | 50 | $49,688 | |
Skillsoft Finance II, Inc., Initial Term Loan, 1 Month SOFR + 5.364% | 10.694(c) | 07/14/28 | 192 | 177,307 | |
226,995 | |||||
Telecommunications 0.3% | |||||
Digicel International Finance Ltd. (Jamaica), First Lien Initial Term B Loan, 6 Month LIBOR + 3.250% | 8.981(c) | 05/27/24 | 20 | 18,304 | |
Level 3 Financing, Inc., Tranche B 2027 Term Loan, 1 Month SOFR + 1.864% | 7.213(c) | 03/01/27 | 30 | 28,200 | |
Lumen Technologies, Inc., Term B Loan, 1 Month SOFR + 2.250% | 7.713(c) | 03/15/27 | 30 | 18,200 | |
Xplornet Communications, Inc. (Canada), | |||||
First Lien Refinancing Term Loan, 3 Month SOFR + 4.262% | 9.652(c) | 10/02/28 | 419 | 259,454 | |
Initial Term Loan- Second Lien, 3 Month SOFR + 7.114% | 12.505(c) | 10/01/29 | 150 | 41,687 | |
365,845 | |||||
Total Floating Rate and Other Loans (cost $1,623,794) | 1,329,217 | ||||
U.S. Treasury Obligations 6.6% | |||||
U.S. Treasury Notes(k) | 2.500 | 03/31/27 | 475 | 447,131 | |
U.S. Treasury Notes(k) | 2.625 | 05/31/27 | 165 | 155,487 | |
U.S. Treasury Notes(k) | 4.125 | 07/31/28 | 4,700 | 4,661,812 | |
U.S. Treasury Notes | 4.750 | 07/31/25 | 300 | 299,496 | |
U.S. Treasury Notes | 5.000 | 10/31/25 | 1,500 | 1,507,031 | |
Total U.S. Treasury Obligations (cost $7,081,843) | 7,070,957 |
Description | Shares | Value | |||
Common Stocks 1.2% | |||||
Chemicals 0.5% | |||||
TPC Group, Inc.*^ | 6,118 | $152,950 | |||
Venator Materials PLC* | 59,620,875 | 417,346 | |||
570,296 | |||||
Electric Utilities 0.0% | |||||
Heritage Power LLC*^ | 2,134 | 26,974 | |||
Heritage Power LLC*^ | 94 | 1,188 | |||
Heritage Power LLC*^ | 2,456 | 1,228 | |||
29,390 | |||||
Gas Utilities 0.1% | |||||
Ferrellgas Partners LP (Class B Stock) (original cost $102,501; purchased 09/24/18 - 09/26/19)(f) | 728 | 121,161 | |||
Oil, Gas & Consumable Fuels 0.4% | |||||
Chesapeake Energy Corp. | 4,472 | 359,146 | |||
Wireless Telecommunication Services 0.2% | |||||
Intelsat Emergence SA (Luxembourg)* | 7,641 | 201,532 | |||
Total Common Stocks (cost $1,322,885) | 1,281,525 | ||||
Preferred Stock 0.5% | |||||
Electronic Equipment, Instruments & Components | |||||
Ferrellgas Escrow LLC, 8.956%, Maturing 03/30/31 (original cost $590,708; purchased 05/15/21 - 02/09/22)^(f) (cost $591,794) | 600 | 600,000 |
Units | |||||
Rights* 0.0% | |||||
Wireless Telecommunication Services | |||||
Intelsat Jackson Holdings SA, Series A (Luxembourg), CVR, expiring 12/05/25^ | 798 | 4,987 |
Description | Units | Value | |||
Rights* (Continued) | |||||
Wireless Telecommunication Services (cont’d.) | |||||
Intelsat Jackson Holdings SA, Series B (Luxembourg), CVR, expiring 12/05/25^ | 798 | $3,192 | |||
Total Rights (cost $12) | 8,179 | ||||
Total Long-Term Investments (cost $115,686,093) | 105,722,969 |
Shares | |||||
Short-Term Investment 1.2% | |||||
Affiliated Mutual Fund | |||||
PGIM Core Government Money Market Fund (cost $1,326,191)(wb) | 1,326,191 | 1,326,191 | |||
TOTAL INVESTMENTS 99.3% (cost $117,012,284) | 107,049,160 | ||||
Other assets in excess of liabilities(z) 0.7% | 734,891 | ||||
Net Assets 100.0% | $107,784,051 |
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: |
144A—Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, pursuant to the requirements of Rule 144A, may not be resold except to qualified institutional buyers. | |
BNP—BNP Paribas S.A. | |
CDX—Credit Derivative Index | |
CLO—Collateralized Loan Obligation | |
CVR—Contingent Value Rights | |
iBoxx—Bond Market Indices | |
LIBOR—London Interbank Offered Rate | |
LP—Limited Partnership | |
OTC—Over-the-counter | |
PIK—Payment-in-Kind | |
Q—Quarterly payment frequency for swaps | |
REITs—Real Estate Investment Trust | |
SOFR—Secured Overnight Financing Rate | |
T—Swap payment upon termination |
* | Non-income producing security. |
# | Principal or notional amount is shown in U.S. dollars unless otherwise stated. |
^ | Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $864,538 and 0.8% of net assets. |
(c) | Variable rate instrument. The interest rate shown reflects the rate in effect at November 30, 2023. |
(d) | Represents issuer in default on interest payments and/or principal repayment. Non-income producing security. Such securities may be post-maturity. |
(f) | Indicates a restricted security that is acquired in unregistered, private sales from the issuing company or from an affiliate of the issuer and is considered restricted as to disposition under federal securities law; the aggregate original cost of such securities is $2,662,775. The aggregate value of $1,482,948 is 1.4% of net assets. |
(ff) | Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified date. Rate shown is the rate in effect as of period end. |
(k) | Represents security, or a portion thereof, segregated as collateral for centrally cleared/exchange-traded derivatives. |
(oo) | Perpetual security. Maturity date represents next call date. |
(p) | Represents a security with a delayed settlement and therefore the interest rate is not available until settlement which is after the period end. |
(r) | Principal or notional amount is less than $500 par. |
(s) | Represents zero coupon bond or principal only security. Rate represents yield to maturity at purchase date. |
(wb) | Represents an investment in a Fund affiliated with the Manager. |
(z) | Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments: |
Futures contracts outstanding at November 30, 2023: | ||||||||
Number of Contracts | Type | Expiration Date | Current Notional Amount | Value / Unrealized Appreciation (Depreciation) | ||||
Long Positions: | ||||||||
14 | 2 Year U.S. Treasury Notes | Mar. 2024 | $2,862,453 | $9,353 | ||||
31 | 5 Year U.S. Treasury Notes | Mar. 2024 | 3,312,398 | 20,548 | ||||
12 | 10 Year U.S. Treasury Notes | Mar. 2024 | 1,317,563 | 8,530 | ||||
38,431 | ||||||||
Short Positions: | ||||||||
3 | 20 Year U.S. Treasury Bonds | Mar. 2024 | 349,313 | (3,840) | ||||
1 | 30 Year U.S. Ultra Treasury Bonds | Mar. 2024 | 123,000 | (1,634) | ||||
(5,474) | ||||||||
$32,957 |
Reference Entity/ Obligation | Termination Date | Fixed Rate | Notional Amount (000)#(3) | Value at Trade Date | Value at November 30, 2023 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1): | ||||||||||||||
CDX.NA.IG.41.V1 | 12/20/28 | 1.000%(Q) | 3,400 | $(47,267) | $(63,896) | $(16,629) |
Reference Entity/ Obligation | Termination Date | Fixed Rate | Notional Amount (000)#(3) | Implied Credit Spread at November 30, 2023(4) | Value at Trade Date | Value at November 30, 2023 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Credit Default Swap Agreement on credit indices - Sell Protection(2): | |||||||||||||||
CDX.NA.HY.41.V2 | 12/20/28 | 5.000%(Q) | 1,089 | 4.029% | $8,833 | $53,170 | $44,337 |
(1) | If the Fund is a buyer of protection, it pays the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and make delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. |
(2) | If the Fund is a seller of protection, it receives the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. |
(3) | Notional amount represents the maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement. |
(4) | Implied credit spreads, represented in absolute terms, utilized in determining the fair value of credit default swap agreements where the Fund is the seller of protection as of the reporting date serve as an indicator of the current status of the payment/ performance risk and represent the likelihood of risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include up-front payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement. |
Total return swap agreement outstanding at November 30, 2023: | ||||||||||||||
Reference Entity | Financing Rate | Counterparty | Termination Date | Long (Short) Notional Amount (000)#(1) | Fair Value | Upfront Premiums Paid (Received) | Unrealized Appreciation (Depreciation)(2) | |||||||
OTC Total Return Swap Agreement: | ||||||||||||||
iBoxx US Dollar Liquid Investment Grade Index(T) | 1 Day SOFR(Q)/ 5.330% | BNP | 12/20/23 | (1,472) | $22,218 | $842 | $21,376 |
(1) | On a long total return swap, the Fund receives payments for any positive return on the reference entity (makes payments for any negative return) and pays the financing rate. On a short total return swap, the Fund makes payments for any positive return on the reference entity (receives payments for any negative return) and receives the financing rate. |
(2) | Upfront/recurring fees or commissions, as applicable, are included in the net unrealized appreciation (depreciation). |