PORTFOLIO OF INVESTMENTS as of February 28, 2022 (Unaudited)
Loomis Sayles Senior Floating Rate and Fixed Income Fund
Principal
|
Description |
Value () | ||||||
Senior Loans 90.1% of Net Assets | ||||||||
Aerospace & Defense 0.8% |
| |||||||
$ | 5,117,175 | Arcline FM Holdings LLC, 2021 1st Lien Term Loan, 3-month LIBOR + 4.750%, 5.500%, 6/23/2028(a)(b) |
$ | 5,082,020 | ||||
2,904,097 | MAG DS Corp., Term Loan, 3-month LIBOR + 5.500%, 6.500%, 4/01/2027(a)(c) |
2,623,357 | ||||||
4,997,000 | Vertex Aerospace Services Corp., 2021 First Lien Term Loan, 1-month LIBOR + 4.000%, 4.750%, 12/06/2028(a)(b) |
4,957,424 | ||||||
|
|
|||||||
12,662,801 | ||||||||
|
|
|||||||
Airlines 1.1% |
| |||||||
3,595,000 | AAdvantage Loyalty IP Ltd., 2021 Term Loan, 3-month LIBOR + 4.750%, 5.500%, 4/20/2028(a)(b) |
3,654,929 | ||||||
2,489,000 | Air Canada, 2021 Term Loan B, 3-month LIBOR + 3.500%, 4.250%, 8/11/2028(a)(b) |
2,471,229 | ||||||
750,000 | KKR Apple Bidco LLC, 2021 2nd Lien Term Loan, 1-month LIBOR + 5.750%, 6.250%, 9/21/2029(a)(d) |
751,253 | ||||||
2,474,000 | SkyMiles IP Ltd., 2020 SkyMiles Term Loan B, 3-month LIBOR + 3.750%, 4.750%, 10/20/2027(a)(c) |
2,583,474 | ||||||
8,128,575 | United Airlines, Inc., 2021 Term Loan B, 3-month LIBOR + 3.750%, 4.500%, 4/21/2028(a)(b) |
8,074,357 | ||||||
|
|
|||||||
17,535,242 | ||||||||
|
|
|||||||
Automotive 4.4% |
| |||||||
3,577,025 | Autokiniton U.S. Holdings, Inc., 2021 Term Loan B, 3-month LIBOR + 4.500%, 5.000%, 4/06/2028(a)(d) |
3,549,303 | ||||||
3,042,276 | Dayco Products LLC, 2017 Term Loan B, 3-month LIBOR + 4.250%, 4.758%, 5/19/2023(a)(e) |
2,987,515 | ||||||
4,000,000 | First Brands Group LLC, 2021 2nd Lien Term Loan, 3-month LIBOR + 8.500%, 9.500%, 3/30/2028(a)(c) |
3,985,000 | ||||||
5,942,500 | First Brands Group LLC, 2021 Term Loan, 3-month LIBOR + 5.000%, 6.000%, 3/30/2027(a)(c) |
5,897,931 | ||||||
640,000 | Holley Purchaser, Inc., 2021 Delayed Draw Term Loan, 4.500%, 11/17/2028(f) |
634,131 | ||||||
273,600 | Holley Purchaser, Inc., 2021 Delayed Draw Term Loan, 3-month LIBOR + 3.750%, 4.500%, 11/17/2028(a)(b) |
271,091 | ||||||
5,472,000 | Holley Purchaser, Inc., 2021 Term Loan, 3-month LIBOR + 3.750%, 4.500%, 11/17/2028(a)(b) |
5,421,822 | ||||||
5,462,731 | IXS Holdings, Inc., 2020 Term Loan B, 3-month LIBOR + 4.250%, 5.000%, 3/05/2027(a)(b) |
5,134,967 | ||||||
7,684,340 | Les Schwab Tire Centers, Term Loan B, 3-month LIBOR + 3.250%, 4.000%, 11/02/2027(a)(b) |
7,604,269 | ||||||
3,482,500 | Mavis Tire Express Services Corp., 2021 Term Loan B, 1-month LIBOR + 4.000%, 4.750%, 5/04/2028(a)(b) |
3,462,928 | ||||||
5,994,481 | PAI Holdco, Inc., 2020 Term Loan B, 3-month LIBOR + 3.500%, 4.250%, 10/28/2027(a)(b) |
5,949,522 | ||||||
1,445,378 | Polaris Newco LLC, USD Term Loan B, 3-month LIBOR + 4.000%, 4.500%, 6/02/2028(a)(d) |
1,435,361 | ||||||
4,345,000 | Rough Country LLC, 2021 Term Loan, 3-month LIBOR + 3.500%, 4.250%, 7/28/2028(a)(b) |
4,318,061 | ||||||
4,466,250 | Truck Hero, Inc., 2021 Term Loan B, 1-month LIBOR + 3.250%, 4.000%, 1/31/2028(a)(b) |
4,378,444 |
Principal
|
Description |
Value () | ||||||
Senior Loans continued | ||||||||
Automotive continued |
| |||||||
$ | 4,307,188 | U.S. Farathane LLC, 2021 Term Loan B, 3-month LIBOR + 4.250%, 5.250%, 12/23/2024(a)(c) |
$ | 3,998,491 | ||||
5,740,076 | Wand NewCo 3, Inc., 2020 Term Loan, 1-month LIBOR + 3.000%, 3.209%, 2/05/2026(a)(e) |
5,602,315 | ||||||
1,750,000 | Wheel Pros LLC, 2021 Term Loan, 5/11/2028(g) |
1,728,860 | ||||||
5,692,361 | Wheel Pros LLC, 2021 Term Loan, 1-month LIBOR + 4.500%, 5.250%, 5/11/2028(a)(b) |
5,623,597 | ||||||
|
|
|||||||
71,983,608 | ||||||||
|
|
|||||||
Brokerage 1.0% |
| |||||||
2,457,870 | Advisor Group, Inc., 2021 Term Loan, 1-month LIBOR + 4.500%, 4.709%, 7/31/2026(a)(e) |
2,445,900 | ||||||
4,852,045 | Edelman Financial Center LLC, 2018 2nd Lien Term Loan, 1-month LIBOR + 6.750%, 6.959%, 7/20/2026(a)(e) |
4,841,952 | ||||||
4,218,674 | Edelman Financial Center LLC, 2021 Term Loan B, 1-month LIBOR + 3.500%, 4.250%, 4/07/2028(a)(b) |
4,180,200 | ||||||
5,165,055 | HighTower Holdings LLC, 2021 Term Loan B, 3-month LIBOR + 4.000%, 4.255%, 4/21/2028(a)(b) |
5,125,026 | ||||||
|
|
|||||||
16,593,078 | ||||||||
|
|
|||||||
Building Materials 4.3% |
| |||||||
6,974,950 | ACProducts, Inc., 2021 Term Loan B, 6-month LIBOR + 4.250%, 4.750%, 5/17/2028(a)(d) |
6,615,740 | ||||||
6,297,853 | CP Atlas Buyer, Inc., 2021 Term Loan B, 3-month LIBOR + 3.750%, 4.250%, 11/23/2027(a)(d) |
6,173,029 | ||||||
5,529,000 | Foley Products Company LLC, 2021 Term Loan, 12/29/2028(g) |
5,446,065 | ||||||
5,692,633 | Groupe Solmax, Inc., Term Loan, 3-month LIBOR + 4.750%, 5.500%, 5/29/2028(a)(b) |
5,661,779 | ||||||
8,524,044 | Janus International Group LLC, 2021 Term Loan B1, LIBOR + 3.250%, 4.250%, 2/12/2025(c)(h) |
8,438,804 | ||||||
764,745 | LBM Acquisition LLC, 2021 Incremental Term Loan B2, 3-month LIBOR + 3.750%, 4.500%, 12/17/2027(a)(b) |
760,157 | ||||||
383,333 | LBM Acquisition LLC, Term Loan B, 12/17/2027(g) |
376,867 | ||||||
4,227,365 | LBM Acquisition LLC, Term Loan B, 1-month LIBOR + 3.750%, 4.500%, 12/17/2027(a)(b) |
4,156,050 | ||||||
2,557,902 | MI Windows and Doors LLC, 2022 Term Loan, 1-month SOFR + 3.500%, 4.000%, 12/18/2027(a)(d) |
2,546,724 | ||||||
3,000,000 | Park River Holdings, Inc., Term Loan, 12/28/2027(g) |
2,949,120 | ||||||
4,469,357 | Park River Holdings, Inc., Term Loan, 3-month LIBOR + 3.250%, 4.000%, 12/28/2027(a)(b) |
4,393,557 | ||||||
8,050,575 | Signal Parent, Inc., Term Loan B, 1-month LIBOR + 3.500%, 4.250%, 4/03/2028(a)(b) |
7,512,233 | ||||||
3,295,000 | Specialty Building Products Holdings LLC, 2021 Term Loan B, 1-month LIBOR + 3.750%, 4.250%, 10/15/2028(a)(d) |
3,262,050 | ||||||
5,819,696 | White Cap Buyer LLC, Term Loan B, 10/19/2027(g) |
5,758,763 | ||||||
2,100,000 | Wilsonart LLC, 2021 Term Loan E, 12/19/2026(g) |
2,065,875 |
Principal
|
Description |
Value () | ||||||
Senior Loans continued | ||||||||
Building Materials continued |
| |||||||
$ | 3,521,104 | Wilsonart LLC, 2021 Term Loan E, 3-month LIBOR + 3.500%, 4.500%, 12/19/2026(a)(c) |
$ | 3,463,886 | ||||
|
|
|||||||
69,580,699 | ||||||||
|
|
|||||||
Cable Satellite 1.0% |
| |||||||
11,263,733 | DirecTV Financing LLC, Term Loan, 3-month LIBOR + 5.000%, 5.750%, 8/02/2027(a)(b) |
11,225,774 | ||||||
5,920,000 | ViaSat, Inc., Term Loan, 2/23/2029(g) |
5,801,600 | ||||||
|
|
|||||||
17,027,374 | ||||||||
|
|
|||||||
Chemicals 3.2% |
| |||||||
1,575,000 | Aruba Investments, Inc., 2020 2nd Lien Term Loan, 6-month LIBOR + 7.750%, 8.500%, 11/24/2028(a)(b) |
1,567,125 | ||||||
1,938,377 | Aruba Investments, Inc., 2020 USD Term Loan, 6-month LIBOR + 3.750%, 4.500%, 11/24/2027(a)(b) |
1,923,839 | ||||||
5,282,085 | CPC Acquisition Corp., Term Loan, 3-month LIBOR + 3.750%, 4.500%, 12/29/2027(a)(b) |
5,097,212 | ||||||
4,308,443 | DCG Acquisition Corp., Term Loan B, 1-month LIBOR + 4.500%, 4.709%, 9/30/2026(a)(e) |
4,276,129 | ||||||
1,943,130 | GEON Performance Solutions LLC, 2021 Term Loan, 3-month LIBOR + 4.750%, 5.500%, 8/18/2028(a)(b) |
1,932,210 | ||||||
5,584,935 | Lonza Group AG, USD Term Loan B, 3-month LIBOR + 4.000%, 4.750%, 7/03/2028(a)(b) |
5,544,779 | ||||||
6,133,000 | LSF11 A5 Holdco LLC, Term Loan, 1-month SOFR + 3.750%, 4.250%, 10/15/2028(a)(d) |
6,056,338 | ||||||
6,216,000 | Luxembourg Investment Co. 428 S.a. r.l., Term Loan B, 3-month SOFR + 5.000%, 5.500%, 1/03/2029(a)(d) |
6,177,150 | ||||||
5,000,000 | Olympus Water U.S. Holding Corp., 2021 USD Term Loan B, 11/09/2028(g) |
4,927,500 | ||||||
7,850,000 | PMHC II, Inc., 2022 Term Loan B, 2/01/2029(g) |
7,725,734 | ||||||
6,418,000 | U.S. Holdco Vad, Inc., 2022 Term Loan, 2/02/2029(g) |
6,369,865 | ||||||
|
|
|||||||
51,597,881 | ||||||||
|
|
|||||||
Construction Machinery 0.3% |
| |||||||
1,012,061 | CMBF LLC, Delayed Draw Term Loan, 1-month LIBOR + 6.000%, 6.500%, 8/02/2028(a)(d) |
994,350 | ||||||
3,388,899 | CMBF LLC, Term Loan, 1-month LIBOR + 6.000%, 6.500%, 8/02/2028(a)(d) |
3,329,593 | ||||||
|
|
|||||||
4,323,943 | ||||||||
|
|
|||||||
Consumer Cyclical Services 4.8% |
| |||||||
8,521,963 | Access CIG LLC, 2018 1st Lien Term Loan, 1-month LIBOR + 3.750%, 3.959%, 2/27/2025(a)(e) |
8,422,086 | ||||||
6,975,000 | Access CIG LLC, 2018 2nd Lien Term Loan, 1-month LIBOR + 7.750%, 7.959%, 2/27/2026(a)(e) |
6,913,969 | ||||||
3,921,173 | Allied Universal Holdco LLC, 2021 USD Incremental Term Loan B, 3-month LIBOR + 3.750%, 4.250%, 5/12/2028(a)(d) |
3,864,982 | ||||||
3,749,785 | APM Global Holdings Pty Ltd., Term Loan, 1-month LIBOR + 4.500%, 5.000%, 6/30/2026(a)(d) |
3,731,036 | ||||||
811,849 | BIFM CA Buyer, Inc., Term Loan B, 6/01/2026(g) |
802,715 |
Principal
|
Description |
Value () | ||||||
Senior Loans continued | ||||||||
Consumer Cyclical Services continued |
| |||||||
$ | 3,578,185 | BIFM CA Buyer, Inc., Term Loan B, 1-month LIBOR + 3.500%, 3.709%, 6/01/2026(a)(e) |
$ | 3,537,931 | ||||
7,112,775 | Conduent Business Services LLC, 2021 Term Loan B, 1-month LIBOR + 4.250%, 4.750%, 10/16/2028(a)(d) |
7,043,852 | ||||||
5,373,737 | Constant Contact, Inc., Term Loan, 3-month LIBOR + 4.000%, 4.750%, 2/10/2028(a)(b) |
5,316,668 | ||||||
1,990,000 | Global Client Solutions LLC, Term Loan B, 1-month LIBOR + 6.000%, 6.106%, 3/16/2026(a)(c) |
1,975,075 | ||||||
6,139,000 | Loyalty Ventures, Inc., Term Loan B, 1-month LIBOR + 4.500%, 5.000%, 11/03/2027(a)(d) |
6,054,589 | ||||||
323,508 | Service Logic Acquisition, Inc, Delayed Draw Term Loan, 4.000%, 10/29/2027(f) |
320,677 | ||||||
3,518,811 | Service Logic Acquisition, Inc., Term Loan, 3-month LIBOR + 4.000%, 4.750%, 10/29/2027(a)(b) |
3,488,021 | ||||||
4,694,832 | SITEL Worldwide Corp., 2021 USD Term Loan, 3-month LIBOR + 3.750%, 4.250%, 8/28/2028(a)(d) |
4,662,578 | ||||||
4,243,824 | Sterling Midco Holdings, Inc., 1st Lien Term Loan, 3-month LIBOR + 3.500%, 4.500%, 6/19/2024(a)(c) |
4,226,849 | ||||||
6,535,000 | Vaco Holdings LLC, 2022 Term Loan, 1-month SOFR + 5.000%, 5.750%, 1/21/2029(a)(b) |
6,485,987 | ||||||
4,405,860 | WebHelp, 2021 USD Term Loan, 3-month LIBOR + 4.000%, 4.500%, 8/04/2028(a)(d) |
4,370,966 | ||||||
8,159,608 | William Morris Endeavor Entertainment LLC, 2018 1st Lien Term Loan, 1-month LIBOR + 2.750%, 2.960%, 5/18/2025(a)(e) |
7,943,705 | ||||||
|
|
|||||||
79,161,686 | ||||||||
|
|
|||||||
Consumer Products 6.6% |
| |||||||
1,800,000 | Advantage Sales & Marketing, Inc., 2021 Term Loan, 10/28/2027(g) |
1,778,634 | ||||||
5,862,780 | Advantage Sales & Marketing, Inc., 2021 Term Loan, LIBOR + 4.500%, 5.250%, 10/28/2027(b)(h) |
5,793,189 | ||||||
5,193,000 | ASP Blade Holdings, Inc., Initial Term Loan, 1-month LIBOR + 4.000%, 4.500%, 10/13/2028(a)(d) |
5,169,216 | ||||||
1,832,627 | Callaway Golf Company, Term Loan B, 1-month LIBOR + 4.500%, 4.709%, 1/02/2026(a)(e) |
1,828,614 | ||||||
2,790,377 | Canada Goose, Inc., 2021 Term Loan, 3-month LIBOR + 3.500%, 4.250%, 10/07/2027(a)(b) |
2,768,277 | ||||||
5,981,010 | Conair Holdings LLC, Term Loan B, 3-month LIBOR + 3.750%, 4.250%, 5/17/2028(a)(d) |
5,911,212 | ||||||
4,748,146 | Gloves Buyer, Inc., 2021 Term Loan, 1-month LIBOR + 4.000%, 4.750%, 12/29/2027(a)(b) |
4,700,664 | ||||||
4,000,000 | Illuminate Merger Sub Corp., Term Loan, 7/21/2028(g) |
3,909,280 | ||||||
2,226,000 | Illuminate Merger Sub Corp., Term Loan, 3-month LIBOR + 3.500%, 4.000%, 7/21/2028(a)(d) |
2,175,514 | ||||||
7,652,232 | Inmar Holdings, Inc., 2017 1st Lien Term Loan, 3-month LIBOR + 4.000%, 5.000%, 5/01/2024(a)(c) |
7,585,275 | ||||||
2,500,000 | Inmar Holdings, Inc., 2017 2nd Lien Term Loan, 3-month LIBOR + 8.000%, 9.000%, 5/01/2025(a)(c) |
2,493,750 | ||||||
5,322,660 | Mattress Firm, Inc., 2021 Term Loan B, 3-month LIBOR + 4.250%, 5.000%, 9/25/2028(a)(b) |
5,267,783 | ||||||
3,414,000 | Olaplex, Inc., 2022 Term Loan, 3-month SOFR + 3.750%, 4.250%, 2/23/2029(a)(d) |
3,401,198 |
Principal
|
Description |
Value () | ||||||
Senior Loans continued | ||||||||
Consumer Products continued |
| |||||||
$ | 4,267,943 | Ozark Holdings LLC, 2020 Term Loan B, 1-month LIBOR + 3.750%, 4.250%, 12/16/2027(a)(d) |
$ | 4,241,269 | ||||
5,587,855 | Polyconcept Investments BV, USD 2016 Term Loan B, 3-month LIBOR + 4.500%, 4.718%, 8/16/2023(a)(c) |
5,541,308 | ||||||
1,000,000 | RVR Dealership Holdings LLC, Term Loan B, 2/08/2028(g) |
983,130 | ||||||
5,234,126 | RVR Dealership Holdings LLC, Term Loan B, 3-month LIBOR + 3.750%, 4.500%, 2/08/2028(a)(b) |
5,145,826 | ||||||
5,349,575 | S&S Holdings LLC, Term Loan, 3-month LIBOR + 5.000%, 5.500%, 3/11/2028(a)(d) |
5,296,079 | ||||||
10,717,000 | Solis IV BV, USD Term Loan B1, 2/26/2029(g) |
10,549,600 | ||||||
6,650,000 | Springs Windows Fashions LLC, 2021 Term Loan B, 1-month LIBOR + 4.000%, 4.750%, 10/06/2028(a)(b) |
6,450,500 | ||||||
564,842 | TGP Holdings III LLC, 2021 Delayed Draw Term Loan, 3.250%, 6/29/2028(f) |
552,602 | ||||||
4,279,552 | TGP Holdings III LLC, 2021 Term Loan, 3-month LIBOR + 3.250%, 4.000%, 6/29/2028(a)(b) |
4,186,814 | ||||||
2,737,000 | Weber-Stephen Products LLC, 2022 Incremental Term Loan B, 10/30/2027(g) |
2,695,945 | ||||||
4,774,896 | Wellness Merger Sub, Inc., 1st Lien Term Loan, 1-month LIBOR + 4.000%, 4.209%, 6/30/2024(a)(e) |
4,718,600 | ||||||
4,638,759 | WW International, Inc., 2021 Term Loan B, 1-month LIBOR + 3.500%, 4.000%, 4/13/2028(a)(d) |
4,121,537 | ||||||
|
|
|||||||
107,265,816 | ||||||||
|
|
|||||||
Diversified Manufacturing 0.7% |
| |||||||
4,860,602 | Granite Holdings U.S. Acquisition Co., 2021 Term Loan B, 3-month LIBOR + 4.000%, 4.224%, 9/30/2026(a)(e) |
4,811,996 | ||||||
1,300,000 | Schweitzer-Mauduit International, Inc., 2021 Term Loan B, 4/20/2028(g) |
1,261,000 | ||||||
5,970,000 | Schweitzer-Mauduit International, Inc., 2021 Term Loan B, 1-month LIBOR + 3.750%, 4.500%, 4/20/2028(a)(b) |
5,790,900 | ||||||
|
|
|||||||
11,863,896 | ||||||||
|
|
|||||||
Electric 0.3% |
| |||||||
5,113,300 | KAMC Holdings, Inc., 2019 Term Loan, 3-month LIBOR + 4.000%, 4.508%, 8/14/2026(a)(e) |
4,269,606 | ||||||
|
|
|||||||
Environmental 1.5% |
| |||||||
2,000,000 | Array Technologies, Inc., Term Loan B, 10/14/2027(g) |
1,947,500 | ||||||
2,136,035 | Array Technologies, Inc., Term Loan B, 3-month LIBOR + 3.250%, 3.750%, 10/14/2027(a)(d) |
2,079,964 | ||||||
6,366,587 | Liberty Tire Recycling Holdco LLC, 2021 Term Loan, 3-month LIBOR + 4.500%, 5.500%, 5/05/2028(a)(c) |
6,302,921 | ||||||
5,443,403 | Northstar Group Services, Inc., 2020 Term Loan B, 1-month LIBOR + 5.500%, 6.500%, 11/12/2026(a)(c) |
5,388,969 | ||||||
8,420,000 | PECF USS Intermediate Holding III Corp., Term Loan B, 1-month LIBOR + 4.250%, 4.750%, 12/15/2028(a)(d) |
8,368,722 | ||||||
|
|
|||||||
24,088,076 | ||||||||
|
|
Principal
|
Description |
Value () | ||||||
Senior Loans continued | ||||||||
Financial Other 3.7% |
| |||||||
$ | 3,068,000 | Acrisure LLC, 2021 First Lien Term Loan B, 3-month LIBOR + 4.250%, 4.750%, 2/15/2027(a)(d) |
$ | 3,035,418 | ||||
3,970,050 | Acrisure LLC, 2021 Incremental Term Loan B, 3-month LIBOR + 3.750%, 4.250%, 2/15/2027(a)(d) |
3,917,963 | ||||||
6,751,399 | Amynta Agency Borrower, Inc., 2018 1st Lien Term Loan, 1-month LIBOR + 4.500%, 4.709%, 2/28/2025(a)(e) |
6,719,059 | ||||||
500,000 | AqGen Ascensus, Inc., 2021 2nd Lien Term Loan, 8/02/2029(g) |
498,750 | ||||||
5,025,000 | DRW Holdings LLC, 2021 Term Loan, 1-month LIBOR + 3.750%, 3.959%, 3/01/2028(a)(e) |
4,999,875 | ||||||
7,182,000 | Eisner Advisory Group LLC, Term Loan, 1-month LIBOR + 5.250%, 6.000%, 7/28/2028(a)(b) |
7,146,090 | ||||||
4,607,431 | GT Polaris, Inc., 2021 Term Loan, 3-month LIBOR + 3.750%, 4.500%, 9/24/2027(a)(b) |
4,572,875 | ||||||
5,213,950 | LifeMiles Ltd., 2021 Term Loan B, 3-month LIBOR + 5.250%, 6.250%, 8/30/2026(a)(c) |
5,193,094 | ||||||
786,213 | Mariner Wealth Advisors LLC, Delayed Draw Term Loan, 3-month LIBOR + 3.250%, 3.750%, 8/18/2028(a)(d) |
778,351 | ||||||
5,499,218 | Mariner Wealth Advisors LLC, Term Loan B, 3-month LIBOR + 3.250%, 3.750%, 8/18/2028(a)(d) |
5,444,225 | ||||||
3,321,571 | Mermaid BidCo., Inc., 2021 USD Term Loan, 3-month LIBOR + 3.500%, 4.250%, 12/22/2027(a)(b) |
3,263,444 | ||||||
5,108,045 | Resolute Investment Managers, Inc., 2020 Term Loan C, 3-month LIBOR + 4.250%, 5.250%, 4/30/2024(a)(c) |
5,079,338 | ||||||
1,100,000 | Teneo Holdings LLC, Term Loan, 7/11/2025(g) |
1,088,725 | ||||||
9,628,089 | Teneo Holdings LLC, Term Loan, 1-month SOFR + 5.250%, 6.250%, 7/11/2025(a)(c) |
9,529,401 | ||||||
|
|
|||||||
61,266,608 | ||||||||
|
|
|||||||
Food & Beverage 3.5% |
| |||||||
175,333 | AI Aqua Merger Sub, Inc., 2021 1st Lien Delayed Draw Term Loan, 7/31/2028(g) |
174,188 | ||||||
116,889 | AI Aqua Merger Sub, Inc., 2021 1st Lien Term Loan B, 7/31/2028(g) |
116,126 | ||||||
2,337,778 | AI Aqua Merger Sub, Inc., 2021 1st Lien Term Loan B, LIBOR + 4.000%, 4.500%, 7/31/2028(d)(h) |
2,322,512 | ||||||
807,407 | AI Aqua Merger Sub, Inc., 2022 Delayed Draw Term loan, 7/31/2028(g) |
800,682 | ||||||
3,552,593 | AI Aqua Merger Sub, Inc., 2022 Term Loan B, 7/31/2028(g) |
3,523,000 | ||||||
3,767,000 | Alltech, Inc., Term Loan B, 1-month LIBOR + 4.000%, 4.500%, 10/13/2028(a)(d) |
3,738,748 | ||||||
6,062,550 | City Brewing Company LLC, Closing Date Term Loan, 3-month LIBOR + 3.500%, 4.250%, 4/05/2028(a)(b) |
5,713,954 | ||||||
5,565,000 | Del Monte Foods, Inc., 2022 Term Loan, 2/15/2029(g) |
5,511,687 | ||||||
2,000,000 | Naked Juice LLC, 2nd Lien Term Loan, 3-month SOFR + 6.000%, 6.500%, 1/24/2030(a)(d) |
2,006,260 | ||||||
100,000 | Naked Juice LLC, Delayed Draw Term Loan, SOFRTE + 3.250%, 3.750%, 1/24/2029(a)(d) |
99,063 | ||||||
1,742,000 | Naked Juice LLC, Term Loan, SOFRTE + 3.250%, 3.750%, 1/24/2029(a)(d) |
1,725,677 |
Principal
|
Description |
Value () | ||||||
Senior Loans continued | ||||||||
Food & Beverage continued |
| |||||||
$ | 3,236,242 | Packers Holdings LLC, 2021 Term Loan, 6-month LIBOR + 3.250%, 4.000%, 3/09/2028(a)(b) |
$ | 3,175,562 | ||||
5,544,175 | Proampac PG Borrower LLC, 2020 Term Loan, 3-month LIBOR + 3.750%, 4.500%, 11/03/2025(a)(b) |
5,498,435 | ||||||
6,175,100 | Shearers Foods, Inc., 2021 Term Loan, 1-month LIBOR + 3.500%, 4.250%, 9/23/2027(a)(b) |
5,953,166 | ||||||
8,504,323 | Triton Water Holdings, Inc., Term Loan, 3-month LIBOR + 3.500%, 4.000%, 3/31/2028(a)(d) |
8,286,952 | ||||||
4,673,000 | Whole Earth Brands, Inc., Term Loan B, 3-month LIBOR + 4.500%, 5.500%, 2/05/2028(a)(c) |
4,626,270 | ||||||
4,164,530 | WOOF Holdings, Inc., 1st Lien Term Loan, 3-month LIBOR + 3.750%, 4.500%, 12/21/2027(a)(b) |
4,122,885 | ||||||
|
|
|||||||
57,395,167 | ||||||||
|
|
|||||||
Gaming 0.6% |
| |||||||
3,933,143 | J&J Ventures Gaming LLC, Term Loan, 1-month LIBOR + 4.000%, 4.750%, 4/26/2028(a)(b) |
3,911,038 | ||||||
5,500,000 | Lucky Bucks LLC, Term Loan, LIBOR + 5.500%, 6.250%, 7/30/2027(b)(h) |
5,355,625 | ||||||
|
|
|||||||
9,266,663 | ||||||||
|
|
|||||||
Health Insurance 0.2% |
| |||||||
3,954,314 | Sedgwick Claims Management Services, Inc., 2018 Term Loan B, 1-month LIBOR + 3.250%, 3.459%, 12/31/2025(a)(e) |
3,899,942 | ||||||
|
|
|||||||
Healthcare 9.3% | ||||||||
2,935,507 | Athenahealth, Inc., 2022 Delayed Draw Term Loan, 0.000%, 2/15/2029(f) |
2,905,418 | ||||||
17,319,493 | Athenahealth, Inc., 2022 Term Loan B, 3-month SOFR + 3.500%, 4.000%, 2/15/2029(a)(d) |
17,141,968 | ||||||
8,500,000 | Aveanna Healthcare LLC, 2021 2nd Lien Term Loan, 1-month LIBOR + 7.000%, 7.500%, 12/10/2029(a)(d) |
8,287,500 | ||||||
4,101,720 | Bella Holding Company LLC, 2021 Term Loan B, 1-month LIBOR + 3.750%, 4.500%, 5/10/2028(a)(b) |
4,047,905 | ||||||
4,680,668 | Carestream Dental Equipment, Inc., 2017 1st Lien Term Loan, 3-month LIBOR + 3.250%, 4.250%, 9/01/2024(a)(c) |
4,551,950 | ||||||
1,361,000 | Carestream Dental Equipment, Inc., 2021 Term Loan, 3-month LIBOR + 4.500%, 5.000%, 9/01/2024(a)(d) |
1,350,793 | ||||||
2,750,000 | CT Technologies Intermediate Holdings, Inc., 2021 Term Loan B, 12/16/2025(g) |
2,723,352 | ||||||
5,467,456 | CT Technologies Intermediate Holdings, Inc., 2021 Term Loan B, 1-month LIBOR + 4.250%, 5.000%, 12/16/2025(a)(b) |
5,414,476 | ||||||
2,703,139 | Da Vinci Purchaser Corp., 2019 Term Loan, 1/08/2027(g) |
2,687,948 | ||||||
2,693,059 | Envision Healthcare Corp., 2018 1st Lien Term Loan, 1-month LIBOR + 3.750%, 3.959%, 10/10/2025(a)(e) |
1,952,683 | ||||||
237,000 | EyeCare Partners LLC, 2021 Delayed Draw Term Loan, 11/15/2028(g) |
234,512 | ||||||
223,045 | EyeCare Partners LLC, 2021 Delayed Draw Term Loan, 4.250%, 11/15/2028(f) |
220,703 | ||||||
477,955 | EyeCare Partners LLC, 2021 Delayed Draw Term Loan, 3-month LIBOR + 3.750%, 4.250%, 11/15/2028(a)(d) |
472,936 | ||||||
948,000 | EyeCare Partners LLC, 2021 Incremental Term Loan, 11/15/2028(g) |
938,046 |
Principal
|
Description |
Value () | ||||||
Senior Loans continued | ||||||||
Healthcare continued |
| |||||||
$ | 2,805,000 | EyeCare Partners LLC, 2021 Incremental Term Loan, 3-month LIBOR + 3.750%, 4.250%, 11/15/2028(a)(d) |
$ | 2,775,547 | ||||
7,563,094 | Gainwell Acquisition Corp., Term Loan B, 3-month LIBOR + 4.000%, 4.750%, 10/01/2027(a)(b) |
7,519,001 | ||||||
2,728,566 | GHX Ultimate Parent Corp., 2017 1st Lien Term Loan, 3-month LIBOR + 3.250%, 4.250%, 6/28/2024(a)(c) |
2,706,956 | ||||||
5,783,935 | Heartland Dental LLC, 2021 Incremental Term Loan, 1-month LIBOR + 4.000%, 4.162%, 4/30/2025(a)(e) |
5,735,755 | ||||||
1,000,000 | MDVIP, Inc., 2021 2nd Lien Term Loan, 1-month LIBOR + 6.500%, 7.000%, 10/15/2029(a)(d) |
996,250 | ||||||
460,000 | MedAssets Software Intermediate Holdings, Inc., 2021 Term Loan, 12/18/2028(g) |
456,550 | ||||||
6,232,000 | MedAssets Software Intermediate Holdings, Inc., 2021 Term Loan, 3-month LIBOR + 4.000%, 4.500%, 12/18/2028(a)(d) |
6,185,260 | ||||||
1,171,050 | Midwest Physician Administrative Services LLC, 2021 Term Loan, 3-month LIBOR + 3.250%, 4.000%, 3/12/2028(a)(b) |
1,158,169 | ||||||
6,189,488 | Midwest Veterinary Partners LLC, Term Loan, 1-month LIBOR + 4.000%, 4.750%, 4/27/2028(a)(b) |
6,143,066 | ||||||
7,236,863 | MPH Acquisition Holdings LLC, 2021 Term Loan B, 3-month LIBOR + 4.250%, 4.758%, 8/17/2028(a)(d) |
7,021,783 | ||||||
4,659,000 | Napa Management Services Corp., Term Loan B, 2/23/2029(g) |
4,631,326 | ||||||
261,152 | National Mentor Holdings, Inc., 2021 Delayed Draw Term Loan, 3.750%, 3/02/2028(f) |
255,566 | ||||||
6,559,836 | National Mentor Holdings, Inc., 2021 Term Loan, 1-month LIBOR + 3.750%, 4.500%, 3/02/2028(a)(b) |
6,419,521 | ||||||
177,172 | National Mentor Holdings, Inc., 2021 Term Loan C, 3-month LIBOR + 3.750%, 4.500%, 3/02/2028(a)(b) |
173,382 | ||||||
4,427,750 | Onex TSG Intermediate Corp., 2021 Term Loan B, 3-month LIBOR + 4.750%, 5.500%, 2/28/2028(a)(b) |
4,405,611 | ||||||
1,000,000 | Pearl Intermediate Parent LLC, 2018 2nd Lien Term Loan, 1-month LIBOR + 6.250%, 6.459%, 2/13/2026(a)(e) |
994,690 | ||||||
1,585,944 | PetVet Care Centers LLC, 2021 Term Loan B3, 1-month LIBOR + 3.500%, 4.250%, 2/14/2025(a)(b) |
1,573,653 | ||||||
3,981,000 | Physician Partners LLC, Term Loan, 1-month SOFR + 4.000%, 4.500%, 12/26/2028(a)(d) |
3,951,142 | ||||||
6,143,000 | Radiology Partners, Inc., 2018 1st Lien Term Loan B, 1-month LIBOR + 4.250%, 4.400%, 7/09/2025(e)(i) |
6,031,689 | ||||||
1,000,000 | Southern Veterinary Partners LLC, 2nd Lien Term Loan, 6-month LIBOR + 7.750%, 8.750%, 10/05/2028(a)(c) |
1,001,250 | ||||||
4,903,022 | Southern Veterinary Partners LLC, Term Loan, 6-month LIBOR + 4.000%, 5.000%, 10/05/2027(a)(c) |
4,881,596 | ||||||
5,585,350 | Symplr Software, Inc., 2020 Term Loan, 3-month LIBOR + 4.500%, 5.250%, 12/22/2027(a)(b) |
5,548,096 | ||||||
5,712,000 | Think & Learn Private Ltd., Term Loan B, 3-month LIBOR + 5.500%, 6.250%, 11/24/2026(a)(b) |
5,681,669 | ||||||
3,445,194 | TTF Holdings LLC, Term Loan, 1-month LIBOR + 4.250%, 5.000%, 3/31/2028(a)(b) |
3,427,968 | ||||||
5,315,678 | U.S. Anesthesia Partners, Inc., 2021 Term Loan, 6-month LIBOR + 4.250%, 4.750%, 10/01/2028(a)(d) |
5,247,265 | ||||||
3,568,836 | Verscend Holding Corp., 2021 Term Loan B, 1-month LIBOR + 4.000%, 4.209%, 8/27/2025(a)(e) |
3,554,346 | ||||||
|
|
|||||||
151,407,297 | ||||||||
|
|
Principal
|
Description |
Value () | ||||||
Senior Loans continued | ||||||||
Home Construction 0.4% |
| |||||||
$ | 7,500,000 | Leaf Home Solutions LLC, 2022 Term Loan B, 3-month SOFR + 4.750%, 5.250%, 2/16/2029(a)(d) |
$ | 7,406,250 | ||||
Industrial Other 5.8% | ||||||||
5,551,848 | ABG Intermediate Holdings 2 LLC, 2021 Term Loan B, 3-month LIBOR + 3.250%, 4.000%, 9/27/2024(a)(b) |
5,518,537 | ||||||
6,191,000 | ABG Intermediate Holdings 2 LLC, 2021 2nd Lien Term Loan, 3-month SOFR + 6.000%, 6.500%, 12/20/2029(a)(d) |
6,198,739 | ||||||
1,000,000 | AEA International Holdings (Lux) S.a.r.l., Term Loan B, 3-month LIBOR + 3.750%, 4.250%, 9/07/2028(a)(d) |
996,250 | ||||||
2,720,000 | Anticimex International AB, 2021 USD Incremental Term Loan, 11/16/2028(g) |
2,696,200 | ||||||
2,969,773 | Connect Finco S.a.r.l., 2021 Term Loan B, 1-month LIBOR + 3.500%, 4.500%, 12/11/2026(a)(c) |
2,928,939 | ||||||
9,057,895 | Element Materials Technology Group U.S. Holdings, Inc., 2017 USD Term Loan B, 3-month LIBOR + 3.500%, 4.500%, 6/28/2024(a)(c) |
8,975,830 | ||||||
3,586,000 | Hyperion Materials & Technologies, Inc., 2021 Term Loan B, 3-month LIBOR + 4.500%, 5.008%, 8/30/2028(a)(d) |
3,577,035 | ||||||
2,770,080 | Infinite Bidco LLC, 1st Lien Term Loan, 3-month LIBOR + 3.750%, 4.258%, 3/02/2028(a)(d) |
2,742,379 | ||||||
3,000,000 | Infinite Bidco LLC, 2nd Lien Term Loan, 3-month LIBOR + 7.000%, 7.508%, 3/02/2029(a)(d) |
2,985,000 | ||||||
4,524,393 | International Textile Group, Inc., 1st Lien Term Loan, 3-month LIBOR + 5.000%, 5.214%, 5/01/2024(a)(e) |
4,162,441 | ||||||
7,828,000 | International Textile Group, Inc., 2nd Lien Term Loan, 3-month LIBOR + 9.000%, 9.214%, 5/01/2025(a)(e) |
5,531,813 | ||||||
10,434,138 | NES Global Talent Finance U.S. LLC, 2018 1st Lien Term Loan B, 3-month LIBOR + 5.500%, 6.500%, 5/11/2023(a)(c) |
9,834,175 | ||||||
4,293,333 | Novae LLC, 1st Lien Term Loan, 3-month LIBOR + 5.000%, 5.220%, 12/22/2028(a)(b) |
4,250,400 | ||||||
1,226,667 | Novae LLC, Delayed Draw Term Loan, 0.000%, 12/22/2028(f) |
1,214,400 | ||||||
5,397,000 | Pelican Products, Inc., 2021 Term Loan, 3-month LIBOR + 4.250%, 4.750%, 12/29/2028(a)(d) |
5,316,045 | ||||||
20,448 | Refficiency Holdings LLC, 2021 Delayed Draw Term Loan, 1-month LIBOR + 3.750%, 4.500%, 12/16/2027(a)(b) |
20,352 | ||||||
729,454 | Refficiency Holdings LLC, 2021 Delayed Draw Term Loan, 4.500%, 12/16/2027(f) |
726,033 | ||||||
3,860,573 | Refficiency Holdings LLC, 2021 Term Loan, 1-month LIBOR + 3.750%, 4.500%, 12/16/2027(a)(b) |
3,842,466 | ||||||
4,000,000 | Safe Fleet Holdings LLC, 2022 Term Loan, 2/23/2029(g) |
3,952,520 | ||||||
2,647,436 | Shape Technologies Group, Inc., Term Loan, 1-month LIBOR + 3.000%, 3.209%, 4/21/2025(a)(e) |
2,476,465 | ||||||
522,170 | VT Topco, Inc., 2021 Delayed Draw Term Loan, 3.750%, 8/01/2025(f) |
518,907 | ||||||
2,976,370 | VT Topco, Inc., 2021 Incremental Term Loan, 1-month LIBOR + 3.750%, 4.500%, 8/01/2025(a)(b) |
2,957,768 | ||||||
5,334,688 | Watlow Electric Manufacturing Co., Term Loan B, 3-month LIBOR + 3.750%, 4.250%, 3/02/2028(a)(d) |
5,272,432 | ||||||
7,650,000 | WireCo WorldGroup, Inc., 2021 Term Loan, 6-month LIBOR + 4.250%, 4.750%, 11/13/2028(a)(d) |
7,576,713 | ||||||
|
|
|||||||
94,271,839 | ||||||||
|
|
Principal
|
Description |
Value () | ||||||
Senior Loans continued | ||||||||
Integrated Energy 0.4% |
| |||||||
$ | 7,286,220 | Matador Bidco S.a.r.l., Term Loan, 1-month LIBOR + 4.750%, 4.959%, 10/15/2026(a)(e) |
$ | 7,274,489 | ||||
|
|
|||||||
Internet & Data 3.7% |
| |||||||
2,814,966 | A&V Holdings Midco LLC, 2020 Term Loan B, 3-month LIBOR + 5.375%, 6.375%, 3/10/2027(a)(c) |
2,793,854 | ||||||
6,541,150 | Castle U.S. Holding Corp., USD Term Loan B, 3-month LIBOR + 3.750%, 3.974%, 1/29/2027(a)(e) |
6,391,619 | ||||||
3,292,829 | Crown Subsea Communications Holding, Inc., 2021 Term Loan, 1-month LIBOR + 4.750%, 5.500%, 4/27/2027(a)(b) |
3,290,096 | ||||||
3,000,000 | Dodge Data & Analytics LLC, 2022 2nd Lien Term Loan, 2/25/2030(g) |
2,940,000 | ||||||
6,400,000 | Dodge Data & Analytics LLC, 2022 Term Loan, 1-month SOFR + 4.750%, 4.750%, 2/23/2029(a)(d) |
6,224,000 | ||||||
6,344,000 | Intelsat Jackson Holdings S.A., 2021 Exit Term Loan B, 6-month SOFR + 4.250%, 4.750%, 2/01/2029(a)(d) |
6,246,873 | ||||||
6,109,300 | ION Trading Finance Ltd., 2021 USD Term Loan, 3-month LIBOR + 4.750%, 4.974%, 4/03/2028(a)(e) |
6,074,966 | ||||||
7,381,382 | MH Sub I LLC, 2017 1st Lien Term Loan, 1-month LIBOR + 3.500%, 3.709%, 9/13/2024(a)(e) |
7,279,888 | ||||||
2,858,465 | MH Sub I LLC, 2020 Incremental Term Loan, 1-month LIBOR + 3.750%, 4.750%, 9/13/2024(a)(c) |
2,835,826 | ||||||
5,400,000 | MH Sub I LLC, 2021 2nd Lien Term Loan, 1-month LIBOR + 6.250%, 6.459%, 2/12/2029(a)(e) |
5,364,576 | ||||||
5,092,160 | WeddingWire, Inc., 2022 Term Loan, 12/19/2025(g) |
5,049,743 | ||||||
5,457,000 | Zacapa LLC, 2022 Term Loan, 2/10/2029(g) |
5,421,202 | ||||||
|
|
|||||||
59,912,643 | ||||||||
|
|
|||||||
Leisure 2.3% |
| |||||||
3,166,825 | Arcis Golf LLC, Term Loan B, 3-month LIBOR + 4.250%, 4.750%, 11/24/2028(a)(d) |
3,156,945 | ||||||
5,257,981 | Kingpin Intermediate Holdings LLC, 2018 Term Loan B, 1-month LIBOR + 3.500%, 4.500%, 7/03/2024(a)(c) |
5,223,804 | ||||||
5,624,735 | MajorDrive Holdings IV LLC, Term Loan B, 3-month LIBOR + 4.000%, 4.563%, 5/12/2028(a)(d) |
5,577,881 | ||||||
1,863,947 | Playpower, Inc., 2019 Term Loan, 3-month LIBOR + 5.500%, 5.718%, 5/08/2026(a)(e) |
1,776,957 | ||||||
8,752,641 | PUG LLC, USD Term Loan, 1-month LIBOR + 3.500%, 3.709%, 2/12/2027(a)(e) |
8,577,588 | ||||||
5,609,614 | Recess Holdings, Inc., 2017 1st Lien Term Loan, LIBOR + 3.750%, 4.226%, 9/30/2024(c)(h) |
5,560,530 | ||||||
7,505,700 | Thunder Finco Pty Ltd., Term Loan B, 1-month LIBOR + 4.250%, 5.000%, 11/26/2026(a)(b) |
7,261,765 | ||||||
|
|
|||||||
37,135,470 | ||||||||
|
|
|||||||
Lodging 1.0% |
| |||||||
6,837,165 | Aimbridge Acquisition Co., Inc., 2019 Term Loan B, 1-month LIBOR + 3.750%, 3.959%, 2/02/2026(a)(e) |
6,640,597 | ||||||
9,075,000 | Fertitta Entertainment LLC, 2022 Term Loan B, 1-month SOFR + 4.000%, 4.500%, 1/27/2029(a)(d) |
9,026,539 | ||||||
|
|
|||||||
15,667,136 | ||||||||
|
|
Principal
|
Description |
Value () | ||||||
Senior Loans continued | ||||||||
Media Entertainment 2.0% |
| |||||||
$ | 1,300,000 | Cengage Learning, Inc., 2021 Term Loan B, 7/14/2026(g) |
$ | 1,296,750 | ||||
6,384,000 | Cengage Learning, Inc., 2021 Term Loan B, 3-month LIBOR + 4.750%, 5.750%, 7/14/2026(a)(c) |
6,368,040 | ||||||
3,337,420 | Diamond Sports Group LLC, Term Loan, PRIME + 2.250%, 5.500%, 8/24/2026(a)(j) |
1,238,183 | ||||||
2,705,864 | Emerald Expositions Holding, Inc., 2017 Term Loan B, 1-month LIBOR + 2.500%, 2.709%, 5/22/2024(a)(e) |
2,609,805 | ||||||
6,241,358 | McGraw-Hill Global Education Holdings LLC, 2021 Term Loan, LIBOR + 4.750%, 5.553%, 7/28/2028(d)(h) |
6,178,944 | ||||||
9,700,000 | Metro-Goldwyn-Mayer, Inc., 2018 2nd Lien Term Loan, 1-month LIBOR + 4.500%, 5.500%, 7/03/2026(a)(c) |
9,651,500 | ||||||
252,705 | National CineMedia LLC, 2021 Incremental Term Loan, 1-month LIBOR + 8.000%, 9.000%, 12/20/2024(a)(c) |
238,806 | ||||||
5,890,238 | Summer (BC) Holdco B S.a.r.l., 2021 USD Term Loan B2, 1-month LIBOR + 4.500%, 5.250%, 12/04/2026(a)(b) |
5,843,587 | ||||||
|
|
|||||||
33,425,615 | ||||||||
|
|
|||||||
Metals & Mining 1.2% |
| |||||||
7,000,000 | AMG Advanced Metallurgical Group NV, 2018 Term Loan B, 1-month LIBOR + 3.500%, 4.000%, 11/30/2028(a)(d) |
6,877,500 | ||||||
747,128 | Grinding Media, Inc., 2021 Term Loan B, 3-month LIBOR + 4.000%, 4.750%, 10/12/2028(a)(b) |
735,921 | ||||||
6,107,490 | SCIH Salt Holdings, Inc., 2021 Incremental Term Loan B, 6-month LIBOR + 4.000%, 4.750%, 3/16/2027(a)(b) |
6,008,243 | ||||||
5,435,860 | U.S. Silica Co., 2018 Term Loan B, 1-month LIBOR + 4.000%, 5.000%, 5/01/2025(a)(c) |
5,350,083 | ||||||
|
|
|||||||
18,971,747 | ||||||||
|
|
|||||||
Midstream 0.5% |
| |||||||
2,640,935 | AL NGPL Holdings LLC, Term Loan B, 3-month LIBOR + 3.750%, 4.750%, 4/14/2028(a)(c) |
2,622,237 | ||||||
6,500,000 | Lucid Energy Group II Borrower LLC, 2021 Term Loan, 3-month LIBOR + 4.250%, 5.000%, 11/24/2028(a)(b) |
6,456,645 | ||||||
|
|
|||||||
9,078,882 | ||||||||
|
|
|||||||
Natural Gas 0.5% |
| |||||||
7,750,000 | Freeport LNG Investments, LLLP, Term Loan B, 3-month LIBOR + 3.500%, 4.000%, 12/21/2028(a)(d) |
7,668,625 | ||||||
|
|
|||||||
Packaging 1.2% | ||||||||
4,734,783 | Pretium PKG Holdings, Inc., 2021 1st Lien Term Loan, 3-month LIBOR + 4.000%, 4.500%, 10/02/2028(a)(d) |
4,676,450 | ||||||
2,805,660 | Reynolds Group Holdings, Inc., 2020 Term Loan B2, 1-month LIBOR + 3.250%, 3.459%, 2/05/2026(a)(e) |
2,758,329 | ||||||
2,793,000 | Reynolds Group Holdings, Inc., 2021 Term Loan B, 1-month LIBOR + 3.500%, 4.000%, 9/20/2028(a)(d) |
2,756,523 | ||||||
4,383,057 | Ring Container Technologies Group LLC, 2021 Term Loan B, LIBOR + 3.750%, 4.269%, 8/12/2028(d)(h) |
4,347,467 | ||||||
4,828,000 | RLG Holdings LLC, 2021 Term Loan, 3-month LIBOR + 4.250%, 5.000%, 7/07/2028(a)(b) |
4,788,797 | ||||||
|
|
|||||||
19,327,566 | ||||||||
|
|
Principal
|
Description |
Value () | ||||||
Senior Loans continued | ||||||||
Paper 0.5% |
| |||||||
$ | 1,114,550 | Domtar Corp., 2021 Term Loan B, 11/30/2028(g) |
$ | 1,109,902 | ||||
4,613,226 | Domtar Corp., 2021 Term Loan B, 1-month LIBOR + 5.500%, 6.250%, 11/30/2028(a)(b) |
4,593,989 | ||||||
2,671,860 | Spa Holdings 3 Oy, USD Term Loan B, 3-month LIBOR + 4.000%, 4.750%, 2/04/2028(a)(b) |
2,658,501 | ||||||
|
|
|||||||
8,362,392 | ||||||||
|
|
|||||||
Pharmaceuticals 1.7% |
| |||||||
1,652,511 | Akorn, Inc., 2020 Take Back Term Loan, 3-month LIBOR + 7.500%, 8.500%, 10/01/2025(a)(c) |
1,664,492 | ||||||
2,693,345 | Amneal Pharmaceuticals LLC, 2018 Term Loan B, 1-month LIBOR + 3.500%, 3.750%, 5/04/2025(a)(e) |
2,638,131 | ||||||
9,756,000 | Bausch Health Companies, Inc., 2022 Term Loan B, 1/27/2027(g) |
9,642,147 | ||||||
3,000,000 | LSCS Holdings, Inc., 2021 1st Lien Term Loan, 12/16/2028(g) |
2,979,990 | ||||||
4,358,000 | LSCS Holdings, Inc., 2021 1st Lien Term Loan, 3-month LIBOR + 4.500%, 5.000%, 12/16/2028(a)(d) |
4,328,932 | ||||||
2,000,000 | LSCS Holdings, Inc., 2021 2nd Lien Term Loan, 3-month LIBOR + 8.000%, 8.500%, 11/23/2029(a)(d) |
1,980,000 | ||||||
4,580,000 | MJH Healthcare Holdings LLC, 2021 Term Loan B, 3-month SOFR + 3.600%, 4.100%, 1/28/2029(a)(d) |
4,534,200 | ||||||
|
|
|||||||
27,767,892 | ||||||||
|
|
|||||||
Property & Casualty Insurance 1.6% |
| |||||||
2,623,030 | Alliant Holdings Intermediate LLC, 2021 Term Loan B4, 1-month LIBOR + 3.500%, 4.000%, 11/06/2027(a)(d) |
2,597,901 | ||||||
2,000,000 | AssuredPartners, Inc., 2022 Term Loan, 2/12/2027(g) |
1,967,500 | ||||||
2,044,000 | AssuredPartners, Inc., 2022 Term Loan, 1-month SOFR + 3.500%, 4.000%, 2/12/2027(a)(d) |
2,010,785 | ||||||
5,465,248 | Baldwin Risk Partners LLC, 2021 Term Loan B, 1-month LIBOR + 3.500%, 4.000%, 10/14/2027(a)(d) |
5,393,544 | ||||||
867,328 | Belfor Holdings, Inc., Term Loan B, 1-month LIBOR + 3.750%, 3.959%, 4/06/2026(a)(e) |
862,992 | ||||||
3,500,000 | Broadstreet Partners, Inc., 2021 Term Loan B2, 1/27/2027(g) |
3,443,125 | ||||||
3,863,318 | Broadstreet Partners, Inc., 2021 Term Loan B2, 1-month LIBOR + 3.250%, 3.750%, 1/27/2027(a)(d) |
3,800,538 | ||||||
4,403,000 | Hyperion Insurance Group Ltd., 2021 Term Loan B, 11/12/2027(g) |
4,350,428 | ||||||
2,244,332 | Hyperion Insurance Group Ltd., 2021 Term Loan B, 1-month LIBOR + 3.250%, 4.000%, 11/12/2027(a)(b) |
2,217,535 | ||||||
|
|
|||||||
26,644,348 | ||||||||
|
|
|||||||
REITs - Other 0.4% |
| |||||||
5,955,000 | Apollo Commercial Real Estate Finance, Inc., 2021 Incremental Term Loan B1, 1-month LIBOR + 3.500%, 4.000%, 3/11/2028(a)(d) |
5,895,450 | ||||||
Restaurants 1.0% | ||||||||
2,180,373 | Carrols Restaurant Group, Inc., Term Loan B, 1-month LIBOR + 3.250%, 3.440%, 4/30/2026(a)(e) |
2,111,560 |
Principal
|
Description |
Value () | ||||||
Senior Loans continued | ||||||||
Restaurants continued |
| |||||||
$ | 5,125,025 | Flynn Restaurant Group LP, 1st Lien Term Loan, 1-month LIBOR + 3.500%, 3.590%, 6/27/2025(a) |
$ | 5,086,588 | ||||
2,160,000 | Flynn Restaurant Group LP, 2021 Term Loan B, 3-month LIBOR + 4.250%, 4.425%, 12/01/2028(a)(d) |
2,134,620 | ||||||
2,843,280 | IRB Holding Corp., 2022 Term Loan B, 12/15/2027(g) |
2,813,425 | ||||||
5,041,040 | Portillos Holdings LLC, 2019 1st Lien Term Loan B3, 1-month LIBOR + 5.500%, 6.500%, 9/06/2024(a)(c) |
5,024,254 | ||||||
|
|
|||||||
17,170,447 | ||||||||
|
|
|||||||
Retailers 3.5% |
| |||||||
5,954,078 | At Home Group, Inc., Term Loan B, 3-month LIBOR + 4.250%, 4.750%, 7/24/2028(a)(d) |
5,772,954 | ||||||
5,335,715 | BDF Acquisition Corp., 1st Lien Term Loan, 1-month LIBOR + 5.250%, 6.250%, 8/14/2023(a)(c) |
5,249,010 | ||||||
3,774,860 | Container Store, Inc. (The), 2020 Term Loan B3, 3-month LIBOR + 4.750%, 5.750%, 1/31/2026(a)(c) |
3,774,860 | ||||||
8,542,000 | Crocs, Inc., Term Loan B, 3-month SOFR + 3.500%, 4.200%, 1/26/2029(a)(d) |
8,435,225 | ||||||
6,612,428 | Evergreen Acqco 1 LP, 2021 USD Term Loan, 3-month LIBOR + 5.500%, 6.250%, 4/26/2028(a)(b) |
6,554,569 | ||||||
5,196,975 | Great Outdoors Group LLC, 2021 Term Loan B1, 3-month LIBOR + 3.750%, 4.500%, 3/06/2028(a)(b) |
5,165,793 | ||||||
6,873,729 | Michaels Companies, Inc., 2021 Term Loan B, 3-month LIBOR + 4.250%, 5.000%, 4/15/2028(a)(b) |
6,377,308 | ||||||
7,950,918 | Petco Health & Wellness Company, Inc., 2021 Term Loan B, 3-month LIBOR + 3.250%, 4.000%, 3/03/2028(a)(b) |
7,888,344 | ||||||
2,543,220 | PetSmart, Inc., 2021 Term Loan B, 3-month LIBOR + 3.750%, 4.500%, 2/11/2028(a)(b) |
2,528,927 | ||||||
6,285,133 | Sweetwater Borrower LLC, Term Loan B, 1-month LIBOR + 4.750%, 5.500%, 8/07/2028(a)(b) |
6,222,282 | ||||||
|
|
|||||||
57,969,272 | ||||||||
|
|
|||||||
Technology 11.1% |
| |||||||
1,260,000 | Altar BidCo, Inc., 2021 2nd Lien Term Loan, 1-month LIBOR + 5.600%, 6.100%, 2/01/2030(a)(d) |
1,258,954 | ||||||
2,820,300 | AP Core Holdings II LLC, Amortization Term Loan B1, 1-month LIBOR + 5.500%, 6.250%, 9/01/2027(a)(b) |
2,806,198 | ||||||
2,856,000 | AP Core Holdings II LLC, High-Yield Term Loan B2, 1-month LIBOR + 5.500%, 6.250%, 9/01/2027(a)(b) |
2,845,290 | ||||||
6,239,346 | Aptean, Inc., 2019 Term Loan, 1-month LIBOR + 4.250%, 4.459%, 4/23/2026(a)(e) |
6,179,574 | ||||||
7,550,000 | Astra Acquisition Corp., 2021 1st Lien Term Loan, 1-month LIBOR + 5.250%, 5.750%, 10/25/2028(a)(d) |
7,361,250 | ||||||
10,670,156 | CommScope, Inc., 2019 Term Loan B, 1-month LIBOR + 3.250%, 3.459%, 4/06/2026(a)(e) |
10,396,787 | ||||||
5,917,353 | Corel Corp., 2019 Term Loan, 3-month LIBOR + 5.000%, 5.508%, 7/02/2026(a)(e) |
5,870,014 | ||||||
7,244,843 | CoreLogic, Inc., Term Loan, 1-month LIBOR + 3.500%, 4.000%, 6/02/2028(a)(d) |
7,145,226 | ||||||
6,100,000 | Cornerstone OnDemand, Inc., 2021 Term Loan, 3-month LIBOR + 3.750%, 4.250%, 10/16/2028(a)(d) |
6,035,218 | ||||||
8,831,125 | Endure Digital, Inc., Term Loan, 3-month LIBOR + 3.500%, 4.250%, 2/10/2028(a)(b) |
8,499,958 |
Principal
|
Description |
Value () | ||||||
Senior Loans continued | ||||||||
Technology continued |
| |||||||
$ | 9,130,973 | Finastra USA, Inc., USD 1st Lien Term Loan, 3-month LIBOR + 3.500%, 4.500%, 6/13/2024(a)(c) |
$ | 8,990,721 | ||||
5,894,460 | Flexera Software LLC, 2021 Term Loan B, 3-month LIBOR + 3.750%, 4.500%, 3/03/2028(a)(b) |
5,848,424 | ||||||
7,246,974 | GoTo Group, Inc., Term Loan B, 1-month LIBOR + 4.750%, 4.887%, 8/31/2027(a)(e) |
7,116,094 | ||||||
6,581,520 | Greeneden U.S. Holdings II LLC, 2020 USD Term Loan B4, 1-month LIBOR + 4.000%, 4.750%, 12/01/2027(a)(b) |
6,567,436 | ||||||
8,380,829 | Hyland Software, Inc., 2021 2nd Lien Term Loan, 1-month LIBOR + 6.250%, 7.000%, 7/07/2025(a)(b) |
8,401,781 | ||||||
5,111,375 | IGT Holding IV AB, 2021 USD Term Loan B2, 3-month LIBOR + 3.500%, 4.000%, 3/31/2028(a)(d) |
5,069,871 | ||||||
1,000,000 | Magenta Buyer LLC, 2021 USD 1st Lien Term Loan, 7/27/2028(g) |
989,750 | ||||||
5,232,885 | Magenta Buyer LLC, 2021 USD 1st Lien Term Loan, 3-month LIBOR + 5.000%, 5.750%, 7/27/2028(a)(b) |
5,179,248 | ||||||
9,819,000 | McAfee LLC, 2022 USD Term Loan B, 3/01/2029(g) |
9,671,715 | ||||||
5,645,805 | Peraton Corp., Term Loan B, 1-month LIBOR + 3.750%, 4.500%, 2/01/2028(a)(b) |
5,610,519 | ||||||
4,662,765 | Project Ruby Ultimate Parent Corp., 2021 Term Loan, 1-month LIBOR + 3.250%, 4.000%, 3/03/2028(a)(b) |
4,618,748 | ||||||
1,276,000 | Quest Software US Holdings Inc., 2022 Term Loan, 2/01/2029(g) |
1,256,069 | ||||||
4,854,000 | Quest Software US Holdings Inc., 2022 Term Loan, 3-month SOFR + 4.250%, 4.750%, 2/01/2029(a)(d) |
4,778,181 | ||||||
4,389,000 | Redstone Holdco 2 LP, 2021 Term Loan, 3-month LIBOR + 4.750%, 5.500%, 4/27/2028(a)(b) |
4,090,021 | ||||||
6,019,871 | Rocket Software, Inc., 2018 Term Loan, 1-month LIBOR + 4.250%, 4.459%, 11/28/2025(a)(e) |
5,959,672 | ||||||
6,217,000 | Seattle Spinco, Inc., 2022 USD Term Loan B5, 1-month SOFR + 4.000%, 4.500%, 2/26/2027(a)(d) |
6,123,745 | ||||||
7,724,714 | SurveyMonkey, Inc., 2018 Term Loan B, 3-month LIBOR + 3.750%, 3.960%, 10/10/2025(a)(e) |
7,608,844 | ||||||
1,028,043 | SurveyMonkey, Inc., 2018 Term Loan B, PRIME + 2.750%, 6.000%, 10/10/2025(a) |
1,012,622 | ||||||
1,000,000 | Syndigo LLC, 2020 2nd Lien Term Loan, 6-month LIBOR + 8.000%, 8.750%, 12/15/2028(a)(b) |
990,000 | ||||||
3,076,750 | Syndigo LLC, 2020 Term Loan, 6-month LIBOR + 4.500%, 5.250%, 12/15/2027(a)(b) |
3,053,674 | ||||||
1,110,000 | Ultimate Software Group, Inc. (The), 2021 2nd Lien Term Loan, 3-month LIBOR + 5.250%, 5.750%, 5/03/2027(a)(d) |
1,104,272 | ||||||
3,935,170 | Verifone Systems, Inc., 2018 1st Lien Term Loan, 3-month LIBOR + 4.000%, 4.498%, 8/20/2025(a)(e) |
3,856,466 | ||||||
2,000,000 | Virtusa Corp., 2022 Incremental Term Loan, 2/11/2028(g) |
1,977,500 | ||||||
4,460,467 | Virtusa Corp., First Lien Term Loan B, 1-month LIBOR + 3.750%, 4.500%, 2/11/2028(a)(b) |
4,397,753 | ||||||
1,000,000 | Vision Solutions, Inc., 2021 2nd Lien Term Loan, 4/23/2029(g) |
988,440 | ||||||
2,000,000 | Vision Solutions, Inc., 2021 2nd Lien Term Loan, 3-month LIBOR + 7.250%, 8.000%, 4/23/2029(a)(b) |
1,976,880 |
Principal
|
Description |
Value () | ||||||
Senior Loans continued | ||||||||
Technology continued |
| |||||||
$ | 6,396,908 | Vision Solutions, Inc., 2021 Incremental Term Loan, 3-month LIBOR + 4.000%, 4.750%, 4/24/2028(a)(b) |
$ | 6,321,744 | ||||
|
|
|||||||
181,958,659 | ||||||||
|
|
|||||||
Transportation Services 1.9% |
| |||||||
4,519,673 | AIT Worldwide Logistics, Inc., 2021 Term Loan, 3-month LIBOR + 4.750%, 5.500%, 4/06/2028(a)(b) |
4,480,125 | ||||||
5,705,852 | Carriage Purchaser, Inc., 2021 Term Loan B, 1-month LIBOR + 4.250%, 5.000%, 9/30/2028(a)(b) |
5,686,224 | ||||||
5,665,693 | Deliver Buyer, Inc., Term Loan B, 3-month LIBOR + 5.000%, 5.224%, 5/01/2024(a)(e) |
5,619,688 | ||||||
4,455,000 | Kenan Advantage Group, Inc., 2021 Term Loan B1, 3-month LIBOR + 3.750%, 4.500%, 3/24/2026(a)(b) |
4,422,701 | ||||||
6,604,448 | LaserShip, Inc., 2021 Term Loan, 3-month LIBOR + 4.500%, 5.250%, 5/07/2028(a)(b) |
6,579,681 | ||||||
4,550,000 | Michael Baker International LLC, 2021 Term Loan, 1-month LIBOR + 5.000%, 5.750%, 11/02/2028(a)(b) |
4,527,250 | ||||||
|
|
|||||||
31,315,669 | ||||||||
|
|
|||||||
Utility Other 0.9% |
| |||||||
5,853,585 | Artera Services LLC, Incremental Term Loan, 3-month LIBOR + 3.500%, 4.500%, 3/06/2025(a)(c) |
5,636,183 | ||||||
5,482,462 | Tiger Acquisition LLC, 2021 Term Loan, 3-month LIBOR + 3.250%, 3.758%, 6/01/2028(a)(d) |
5,321,442 | ||||||
3,490,253 | USIC Holdings, Inc., 2021 Term Loan, 1-month LIBOR + 3.500%, 4.250%, 5/12/2028(a)(b) |
3,434,618 | ||||||
|
|
|||||||
14,392,243 | ||||||||
|
|
|||||||
Wireless 0.9% |
| |||||||
4,686,000 | Asurion LLC, 2021 2nd Lien Term Loan B3, 1-month LIBOR + 5.250%, 5.459%, 1/31/2028(a)(e) |
4,626,254 | ||||||
2,933,742 | Asurion LLC, 2021 Term Loan B9, 1-month LIBOR + 3.250%, 3.459%, 7/31/2027(a)(e) |
2,876,916 | ||||||
3,300,000 | CCI Buyer, Inc., Term Loan, 12/17/2027(g) |
3,261,852 | ||||||
3,655,378 | CCI Buyer, Inc., Term Loan, 3-month LIBOR + 3.750%, 4.500%, 12/17/2027(a)(b) |
3,613,121 | ||||||
|
|
|||||||
14,378,143 | ||||||||
|
|
|||||||
Wirelines 0.3% |
| |||||||
2,660,000 | Frontier Communications Corp., 2021 DIP Term Loan B, 5/01/2028(g) |
2,635,900 | ||||||
3,028,118 | Frontier Communications Corp., 2021 DIP Term Loan B, 3-month LIBOR + 3.750%, 4.500%, 5/01/2028(a)(b) |
3,000,683 | ||||||
|
|
|||||||
5,636,583 | ||||||||
|
|
|||||||
Total Senior Loans (Identified Cost $1,488,839,964) |
1,472,820,743 | |||||||
|
|
Principal
|
Description |
Value () | ||||||
Bonds and Notes 4.4% | ||||||||
Non-Convertible Bonds 4.2% | ||||||||
Airlines 0.3% |
| |||||||
$ | 5,750,000 | American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.500%, 4/20/2026, 144A |
$ | 5,885,355 | ||||
|
|
|||||||
Chemicals 0.5% | ||||||||
1,715,000 | Avient Corp., 5.750%, 5/15/2025, 144A |
1,760,019 | ||||||
2,985,000 | Iris Holdings, Inc., 9.500% PIK or 8.750% Cash, 2/15/2026, 144A(k) |
2,992,462 | ||||||
3,405,000 | Kobe U.S. Midco 2, Inc., 10.000% PIK or 9.250% Cash, 11/01/2026, 144A(l) |
3,439,731 | ||||||
|
|
|||||||
8,192,212 | ||||||||
|
|
|||||||
Consumer Cyclical Services 0.3% |
| |||||||
5,500,000 | WASH Multifamily Acquisition, Inc., 5.750%, 4/15/2026, 144A |
5,543,945 | ||||||
|
|
|||||||
Consumer Products 0.2% |
| |||||||
3,250,000 | Coty, Inc., 6.500%, 4/15/2026, 144A |
3,316,625 | ||||||
|
|
|||||||
Finance Companies 0.2% |
| |||||||
3,370,000 | Oxford Finance LLC/Oxford Finance Co-Issuer II, Inc., 6.375%, 2/01/2027, 144A |
3,448,993 | ||||||
|
|
|||||||
Financial Other 0.3% |
| |||||||
4,400,000 | Icahn Enterprises LP/Icahn Enterprises Finance Corp., 5.250%, 5/15/2027 |
4,369,200 | ||||||
|
|
|||||||
Gaming 0.3% |
| |||||||
4,235,000 | Caesars Entertainment, Inc., 6.250%, 7/01/2025, 144A |
4,391,271 | ||||||
|
|
|||||||
Media Entertainment 0.4% |
| |||||||
4,650,000 | Millennium Escrow Corp., 6.625%, 8/01/2026, 144A |
4,498,875 | ||||||
1,845,000 | Townsquare Media, Inc., 6.875%, 2/01/2026, 144A |
1,881,900 | ||||||
|
|
|||||||
6,380,775 | ||||||||
|
|
|||||||
Property & Casualty Insurance 0.3% |
| |||||||
4,000,000 | NMI Holdings, Inc., 7.375%, 6/01/2025, 144A |
4,299,420 | ||||||
|
|
|||||||
REITs - Hotels 0.3% |
| |||||||
50,000 | Service Properties Trust, 3.950%, 1/15/2028 |
43,375 | ||||||
1,200,000 | Service Properties Trust, 4.750%, 10/01/2026 |
1,109,772 | ||||||
3,710,000 | Service Properties Trust, 4.950%, 2/15/2027 |
3,450,300 | ||||||
|
|
|||||||
4,603,447 | ||||||||
|
|
Principal
|
Description |
Value () | ||||||
Bonds and Notes continued | ||||||||
Non-Convertible Bonds continued | ||||||||
REITs - Mortgage 0.8% |
| |||||||
$ | 4,000,000 | Blackstone Mortgage Trust, Inc., 3.750%, 1/15/2027, 144A |
$ | 3,780,000 | ||||
1,750,000 | Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 5.250%, 10/01/2025, 144A |
1,754,375 | ||||||
5,750,000 | Starwood Property Trust, Inc., 3.625%, 7/15/2026, 144A |
5,440,938 | ||||||
2,000,000 | Starwood Property Trust, Inc., 4.375%, 1/15/2027, 144A |
1,941,076 | ||||||
|
|
|||||||
12,916,389 | ||||||||
|
|
|||||||
Supermarkets 0.3% |
| |||||||
5,750,000 | Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 4.625%, 1/15/2027, 144A |
5,775,228 | ||||||
|
|
|||||||
Total Non-Convertible Bonds (Identified Cost $69,298,569) |
69,122,860 | |||||||
|
|
|||||||
Convertible Bonds 0.2% | ||||||||
REITs - Mortgage 0.2% |
| |||||||
3,250,000 | Blackstone Mortgage Trust, Inc., 4.375%, 5/05/2022 (Identified Cost $3,233,865) |
3,250,000 | ||||||
|
|
|||||||
Total Bonds and Notes (Identified Cost $72,532,434) |
72,372,860 | |||||||
|
|
|||||||
Shares | ||||||||
Common Stocks 0.5% | ||||||||
Chemicals 0.4% |
| |||||||
193,746 | Hexion Holdings Corp., Class B(m) | 5,708,726 | ||||||
|
|
|||||||
Energy Equipment & Services 0.0% | ||||||||
61,854 | Ameriforge Group, Inc.(m)(n)(o)(p) | 8,814 | ||||||
|
|
|||||||
Pharmaceuticals 0.1% | ||||||||
192,793 | Akorn, Inc.(j)(m) | 1,622,739 | ||||||
|
|
|||||||
Total Common Stocks (Identified Cost $10,111,615) |
7,340,279 | |||||||
|
|
|||||||
Exchange-Traded Funds 1.3% | ||||||||
1,010,000 | Invesco Senior Loan ETF (Identified Cost $22,207,205) |
21,987,700 | ||||||
|
|
|||||||
|
Principal Amount |
|||||||
Short-Term Investments 11.0% | ||||||||
179,208,824 | Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 2/28/2022 at 0.000% to be repurchased at $179,208,824 on 3/01/2022 collateralized by $182,678,900 U.S. Treasury
Note, 1.875% due 2/28/2027 valued at $182,793,073 including accrued interest(q) (Identified Cost $179,208,824) |
179,208,824 | ||||||
|
|
|
Description |
Value () | ||||||
Total Investments 107.3% (Identified Cost $1,772,900,042) |
$ | 1,753,730,406 | ||||||
Other assets less liabilities (7.3)% | (119,090,736 | ) | ||||||
|
|
|||||||
Net Assets 100.0% | $ | 1,634,639,670 | ||||||
|
|
() | Fund securities and other investments are valued at market value based on market quotations obtained or determined by independent pricing services recommended by the adviser and approved by the Board of Trustees. Fund securities and other investments for which market quotations are not readily available are valued at fair value as determined in good faith by the adviser pursuant to procedures approved by the Board of Trustees, as described below. Market value is determined as follows: Senior loans are valued at bid prices supplied by an independent pricing service, if available. Debt securities and unlisted preferred equity securities are valued based on evaluated bids furnished to the Fund by an independent pricing service or bid prices obtained from broker-dealers. |
Listed equity securities (including shares of closed-end investment companies and exchange-traded funds) are valued at the last sale price quoted on the exchange where they are traded most extensively or, if there is no reported sale during the day, the closing bid quotation as reported by an independent pricing service. Securities traded on the NASDAQ Global Select Market, NASDAQ Global Market and NASDAQ Capital Market are valued at the NASDAQ Official Closing Price (NOCP), or if lacking an NOCP, at the most recent bid quotations on the applicable NASDAQ Market. Unlisted equity securities (except unlisted preferred equity securities) are valued at the last sale price quoted in the market where they are traded most extensively or, if there is no reported sale during the day, the closing bid quotation as reported by an independent pricing service. If there is no last sale price or closing bid quotation available, unlisted equity securities will be valued using evaluated bids furnished by an independent pricing service, if available. |
In some foreign markets, an official close price and a last sale price may be available from the foreign exchange or market. In those cases, the official close price is used. |
Broker-dealer bid prices may be used to value debt and unlisted equity securities and senior loans where an independent pricing service is unable to price a security or where an independent pricing service does not provide a reliable price for the security. |
Fund securities and other investments for which market quotations are not readily available are valued at fair value as determined in good faith by the adviser pursuant to procedures approved by the Board of Trustees. The Fund may also value securities and other investments at fair value in other circumstances such as when extraordinary events occur after the close of a foreign market but prior to the close of the New York Stock Exchange. This may include situations relating to a single issuer (such as a declaration of bankruptcy or a delisting of the issuers security from the primary market on which it has traded) as well as events affecting the securities markets in general (such as market disruptions or closings and significant fluctuations in U.S. and/or foreign markets). When fair valuing its securities or other investments, the Fund may, among other things, use modeling tools or other processes that may take into account factors such as securities or other market activity and/or significant events that occur after the close of the foreign market and before the time the Funds net asset value (NAV) is calculated. Fair value pricing may require subjective determinations about the value of a security, and fair values used to determine the Funds NAV may differ from quoted or published prices, or from prices that are used by others, for the same securities. In addition, the use of fair value pricing may not always result in adjustments to the prices of securities held by the Fund. |
Illiquid securities for which market quotations are readily available and have been evaluated by the adviser are considered and classified as fair valued securities pursuant to the Funds pricing policies and procedures. As of February 28, 2022, securities held by the Fund were fair valued as follows: |
Securities fair valued by the Funds adviser |
Percentage of Net Assets | |
$8,814 |
Less than 0.1% |
The books and records of the Fund are maintained in U.S. dollars. The values of securities, currencies and other assets and liabilities denominated in currencies other than U.S. dollars are translated into U.S. dollars based upon foreign exchange rates prevailing at the end of the period. |
(a) | Variable rate security. Rate as of February 28, 2022 is disclosed. |
(b) | Stated interest rate has been determined in accordance with the provisions of the loan agreement and is subject to a minimum benchmark rate (LIBOR floor) of 0.75%, to which the spread is added. |
(c) | Stated interest rate has been determined in accordance with the provisions of the loan agreement and is subject to a minimum benchmark rate (LIBOR floor) of 1.00%, to which the spread is added. |
(d) | Stated interest rate has been determined in accordance with the provisions of the loan agreement and is subject to a minimum benchmark rate (LIBOR floor) of 0.50%, to which the spread is added. |
(e) | Stated interest rate has been determined in accordance with the provisions of the loan agreement and is subject to a minimum benchmark rate (LIBOR floor) of 0.00%, to which the spread is added. |
(f) | Unfunded loan commitment. An unfunded loan commitment is a contractual obligation for future funding at the option of the borrower. The Fund receives a stated coupon rate until the borrower draws on the loan commitment, at which time the rate will become the stated rate in the loan agreement. |
(g) | Position is unsettled. Contract rate was not determined at February 28, 2022 and does not take effect until settlement date. Maturity date is not finalized until settlement date. |
(h) | Variable rate security. Rate shown represents the weighted average rate of underlying contracts at February 28, 2022. Interest rates on contracts are primarily redetermined either weekly, monthly or quarterly by reference to the indicated base lending rate and spread and the reset period. |
(i) | Variable rate security. Rate shown represents the weighted average rate of underlying contracts at February 28, 2022. |
(j) | Securities subject to restriction on resale. At February 28, 2022, the restricted securities held by the Fund are as follows: |
Acquisition Date | Acquisition Cost | Value | % of Net Assets | |||||||||||||
Akorn, Inc. |
10/06/2020 | $ | 2,530,723 | * | $ | 1,622,739 | 0.1 | % | ||||||||
Diamond Sports Group LLC, Term Loan |
9/30/2019 | 3,354,107 | 1,238,183 | 0.1 | % |
* | Represents basis carried over in a non-taxable restructuring. |
(k) | Payment-in-kind security for which the issuer, at each interest payment date, may make interest payments in cash and/or additional principal. For the period ended February 28, 2022, interest payments were made in cash. |
(l) | Payment-in-kind security for which the issuer, at each interest payment date, may make interest payments in cash and/or additional principal. No payments were made during the period. |
(m) | Non-income producing security. |
(n) | Illiquid security. |
(o) | Level 3 security. Value has been determined using significant unobservable inputs. |
(p) | Fair valued by the Funds adviser. At February 28, 2022, the value of this security amounted to $8,814 or less than 0.1% of net assets. |
(q) | The Fund may enter into repurchase agreements, under the terms of a Master Repurchase Agreement, under which the Fund acquires securities as collateral and agrees to resell the securities at an agreed upon time and at an agreed upon price. It is the Funds policy that the market value of the collateral for repurchase agreements be at least equal to 102% of the repurchase price, including interest. Certain repurchase agreements are tri-party arrangements whereby the collateral is held in a segregated account for the benefit of the Fund and on behalf of the counterparty. Repurchase agreements could involve certain risks in the event of default or insolvency of the counterparty, including possible delays or restrictions upon the Funds ability to dispose of the underlying securities. As of February 28, 2022, the Fund had an investment in a repurchase agreement for which the value of the related collateral exceeded the value of the repurchase agreement. |
144A | All or a portion of these securities are exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At February 28, 2022, the value of Rule 144A holdings amounted to $60,150,213 or 3.7% of net assets. |
DIP | Debtor In Possession |
ETF | Exchange-Traded Fund |
LIBOR | London Interbank Offered Rate |
PIK | Payment-in-Kind |
REITs | Real Estate Investment Trusts |
SOFR | Secured Overnight Financing Rate |
SOFRTE | Term SOFR |
Fair Value Measurements
In accordance with accounting standards related to fair value measurements and disclosures, the Fund has categorized the inputs utilized in determining the value of the Funds assets or liabilities. These inputs are summarized in the three broad levels listed below:
| Level 1 quoted prices in active markets for identical assets or liabilities; |
| Level 2 prices determined using other significant inputs that are observable either directly, or indirectly through corroboration with observable market data (which could include quoted prices for similar assets or liabilities, interest rates, credit risk, etc.); and |
| Level 3 prices determined using significant unobservable inputs when quoted prices or observable inputs are unavailable such as when there is little or no market activity for an asset or liability (unobservable inputs reflect the Funds own assumptions in determining the fair value of assets or liabilities and would be based on the best information available). |
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
The following is a summary of the inputs used to value the Funds investments as of February 28, 2022, at value:
Asset Valuation Inputs
Description |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Senior Loans* |
$ | | $ | 1,472,820,743 | $ | | $ | 1,472,820,743 | ||||||||
Bonds and Notes* |
| 72,372,860 | | 72,372,860 | ||||||||||||
Common Stocks |
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Energy Equipment & Services |
| | 8,814 | (a) | 8,814 | |||||||||||
All Other Common Stocks* |
| 7,331,465 | | 7,331,465 | ||||||||||||
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Total Common Stocks |
| 7,331,465 | 8,814 | 7,340,279 | ||||||||||||
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Exchange-Traded Funds |
21,987,700 | | | 21,987,700 | ||||||||||||
Short-Term Investments |
| 179,208,824 | | 179,208,824 | ||||||||||||
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Total |
$ | 21,987,700 | $ | 1,731,733,892 | $ | 8,814 | $ | 1,753,730,406 | ||||||||
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* | Details of the major categories of the Funds investments are reflected within the Portfolio of Investments. |
(a) | Fair valued by the Funds adviser. |
The Funds pricing policies and procedures are recommended by the adviser and approved by the Board of Trustees. Debt securities are valued based on evaluated bids furnished to the Fund by an independent pricing service. Broker-dealer bid prices may be used if an independent pricing service either is unable to price a security or does not provide a reliable price for a security. The Funds adviser may use internally developed models to validate broker-dealer bid prices that are only available from a single broker or market maker. Such securities are considered and classified as fair valued. Broker-dealer bid prices for which the Fund does not have knowledge of the inputs used by the broker-dealer are categorized in Level 3. Securities for which market quotations are not readily available are valued at fair value as determined in good faith by the Funds adviser pursuant to procedures approved by the Board of Trustees. Fair valued securities may be categorized in Level 3.
The following is a reconciliation of Level 3 investments for which significant unobservable inputs were used to determine fair value as of November 30, 2021 and/or February 28, 2022:
Asset Valuation Inputs
Investments in Securities |
Balance as of November 30, 2021 |
Accrued Discounts (Premiums) |
Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Purchases | Sales | Transfers into Level 3 |
Transfers out of Level 3 |
Balance as of February 28, 2022 |
Change in Unrealized Appreciation (Depreciation) from Investments Still Held at February 28, 2022 |
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Common Stocks |
$ | 8,814 | $ | | $ | | $ | | $ | | $ | | $ | | $ | | $ | 8,814 | $ | | ||||||||||||||||||||
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Industry Summary at February 28, 2022 (Unaudited)
Technology |
11.1 | % | ||
Healthcare |
9.3 | |||
Consumer Products |
6.8 | |||
Industrial Other |
5.8 | |||
Consumer Cyclical Services |
5.1 | |||
Automotive |
4.4 | |||
Building Materials |
4.3 | |||
Chemicals |
4.1 | |||
Financial Other |
4.0 | |||
Internet & Data |
3.7 | |||
Retailers |
3.5 | |||
Food & Beverage |
3.5 | |||
Media Entertainment |
2.4 | |||
Leisure |
2.3 | |||
Other Investments, less than 2% each |
24.7 | |||
Short-Term Investments |
11.0 | |||
Exchange-Traded Funds |
1.3 | |||
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Total Investments |
107.3 | |||
Other assets less liabilities |
(7.3 | ) | ||
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Net Assets |
100.0 | % | ||
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