Interest Rate | Maturity Date | Principal Amount (000)(a) | Value | |||
Variable Rate Senior Loan Interests–107.17%(b)(c) | ||||||
Aerospace & Defense–6.98% | ||||||
Boeing Co., Revolver Loan (d) | 0.00% | 10/30/2022 | $ 9,182 | $ 9,109,499 | ||
Brown Group Holding LLC, Term Loan B (1 mo. USD LIBOR + 2.75%) | 3.25% | 04/22/2028 | 160 | 158,511 | ||
Castlelake Aviation Ltd., Term Loan B (1 mo. USD LIBOR + 2.75%) | 3.25% | 10/25/2026 | 1,500 | 1,487,538 | ||
CEP IV Investment 16 S.a.r.l. (ADB Safegate) (Luxembourg), Term Loan B (3 mo. EURIBOR + 3.50%) | 3.50% | 10/03/2024 | EUR | 161 | 169,748 | |
Dynasty Acquisition Co., Inc. | ||||||
Term Loan B-1 (1 mo. USD LIBOR + 3.50%) | 3.63% | 04/08/2026 | 1,931 | 1,879,570 | ||
Term Loan B-2 (1 mo. USD LIBOR + 3.50%) | 3.63% | 04/08/2026 | 1,037 | 1,009,630 | ||
Gogo Intermediate Holdings LLC, Term Loan B (1 mo. USD LIBOR + 3.75%) | 4.50% | 04/30/2028 | 701 | 699,786 | ||
Greenrock Finance, Inc., Term Loan B (3 mo. USD LIBOR + 3.50%) | 4.50% | 06/28/2024 | 1,608 | 1,599,167 | ||
IAP Worldwide Services, Inc. | ||||||
Revolver Loan (Acquired 08/05/2014-02/08/2019; Cost $1,946,523)(d)(e)(f) | 0.00% | 07/18/2023 | 1,946 | 1,946,523 | ||
Second Lien Term Loan (3 mo. USD LIBOR + 6.50%) (Acquired 07/18/2014-02/08/2019; Cost $2,088,017)(e)(f) | 8.00% | 07/18/2023 | 2,116 | 2,116,271 | ||
KKR Apple Bidco LLC, Second Lien Term Loan (1 mo. USD LIBOR + 5.75%) | 6.25% | 09/21/2029 | 212 | 214,605 | ||
PAE Holding Corp., Term Loan (1 mo. USD LIBOR + 4.50%) | 5.25% | 10/13/2027 | 707 | 708,025 | ||
Peraton Corp. | ||||||
First Lien Term Loan B (1 mo. USD LIBOR + 3.75%) | 4.50% | 02/01/2028 | 3,870 | 3,866,063 | ||
Second Lien Term Loan (1 mo. USD LIBOR + 7.75%) | 8.50% | 02/26/2029 | 1,336 | 1,356,683 | ||
Spirit AeroSystems, Inc., Term Loan B (1 mo. USD LIBOR + 3.75%) | 4.25% | 01/15/2025 | 1,120 | 1,120,871 | ||
TransDigm, Inc. | ||||||
Term Loan E (1 mo. USD LIBOR + 2.25%) | 2.34% | 05/30/2025 | 1,394 | 1,371,263 | ||
Term Loan F (1 mo. USD LIBOR + 2.25%) | 2.34% | 12/09/2025 | 3,324 | 3,261,534 | ||
Vectra Co., First Lien Term Loan (3 mo. USD LIBOR + 3.25%) | 3.34% | 03/08/2025 | 215 | 207,716 | ||
32,283,003 | ||||||
Air Transport–2.94% | ||||||
AAdvantage Loyalty IP Ltd., Term Loan B (1 mo. USD LIBOR + 4.75%) | 5.50% | 03/15/2028 | 3,320 | 3,417,445 | ||
Air Canada (Canada), Term Loan B (1 mo. USD LIBOR + 3.50%) | 4.25% | 08/15/2028 | 1,337 | 1,331,561 | ||
American Airlines, Inc., Term Loan (3 mo. USD LIBOR + 1.75%) | 1.84% | 06/27/2025 | 1,033 | 976,131 | ||
Avolon TLB Borrower 1 (US) LLC, Term Loan B-4 (1 mo. USD LIBOR + 1.50%) | 2.25% | 02/10/2027 | 187 | 184,623 | ||
eTraveli Group (Sweden), Term Loan B-1 (3 mo. EURIBOR + 4.50%) | 4.50% | 08/02/2024 | EUR | 411 | 463,328 | |
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd., Term Loan (1 mo. USD LIBOR + 5.25%) | 6.25% | 06/21/2027 | 1,667 | 1,746,770 | ||
SkyMiles IP Ltd., Term Loan (3 mo. USD LIBOR + 3.75%) | 4.75% | 10/01/2027 | 2,041 | 2,151,497 | ||
United Airlines, Inc., Term Loan B (1 mo. USD LIBOR + 3.75%) | 4.50% | 05/01/2028 | 3,159 | 3,160,284 | ||
WestJet Airlines Ltd. (Canada), Term Loan B (3 mo. USD LIBOR + 3.00%) | 4.00% | 12/11/2026 | 171 | 166,383 | ||
13,598,022 | ||||||
Automotive–2.15% | ||||||
Adient PLC, Term Loan B (1 mo. USD LIBOR + 3.50%) | 3.59% | 03/31/2028 | 741 | 739,750 | ||
Autokiniton US Holdings, Inc., Term Loan B (1 mo. USD LIBOR + 4.50%) | 5.00% | 03/31/2028 | 1,784 | 1,784,362 | ||
BCA Marketplace (United Kingdom) | ||||||
Second Lien Term Loan B (3 mo. USD LIBOR + 7.50%) | 7.55% | 06/30/2029 | GBP | 481 | 645,534 | |
Term Loan B(g) | – | 06/30/2028 | GBP | 184 | 245,169 | |
DexKo Global, Inc. | ||||||
Delayed Draw Term Loan (1 mo. USD LIBOR + 3.75%) | 4.25% | 09/30/2028 | 78 | 77,978 | ||
Delayed Draw Term Loan(d) | 0.00% | 09/30/2028 | 43 | 42,249 | ||
Term Loan B (1 mo. USD LIBOR + 3.75%) | 4.25% | 09/30/2028 | 635 | 631,189 |
Interest Rate | Maturity Date | Principal Amount (000)(a) | Value | |||
Automotive–(continued) | ||||||
Driven Holdings LLC, Term Loan B (1 mo. USD LIBOR + 3.25%)(e) | 3.50% | 11/20/2028 | $ 378 | $ 376,345 | ||
Goodyear Tire & Rubber Co. (The), Second Lien Term Loan (3 mo. USD LIBOR + 2.00%) | 2.09% | 03/03/2025 | 317 | 312,808 | ||
Highline Aftermarket Acquisition LLC, Term Loan (1 mo. USD LIBOR + 4.50%) | 5.25% | 10/28/2027 | 1,524 | 1,495,500 | ||
Mavis Tire Express Services TopCo L.P., Term Loan B (1 mo. USD LIBOR + 4.00%) | 4.75% | 05/01/2028 | 2,679 | 2,680,734 | ||
Superior Industries International, Inc., Term Loan (3 mo. USD LIBOR + 4.00%) | 4.09% | 05/22/2024 | 525 | 525,122 | ||
ThermaSys Corp. | ||||||
Term Loan(e)(g) | – | 10/02/2023 | 4 | 2,804 | ||
Term Loan(e)(g) | – | 12/29/2023 | 87 | 32,674 | ||
Winter Park Intermediate, Inc., Term Loan B (1 mo. USD LIBOR + 4.50%) | 5.25% | 11/30/2028 | 353 | 351,047 | ||
9,943,265 | ||||||
Beverage & Tobacco–1.69% | ||||||
Al Aqua Merger Sub, Inc. | ||||||
Delayed Draw Term Loan(d) | 0.00% | 06/18/2028 | 648 | 649,052 | ||
Term Loan B (1 mo. USD LIBOR + 4.00%) | 4.50% | 07/31/2028 | 5,181 | 5,192,413 | ||
Arctic Glacier U.S.A., Inc., Term Loan (3 mo. USD LIBOR + 3.50%) | 4.50% | 03/20/2024 | 292 | 276,211 | ||
City Brewing Co. LLC, Term Loan B (1 mo. USD LIBOR + 3.50%) | 4.25% | 03/31/2028 | 848 | 838,923 | ||
Waterlogic Holdings Ltd. (United Kingdom) | ||||||
Term Loan B (3 mo. EURIBOR + 4.25%) | 4.25% | 08/04/2028 | EUR | 43 | 48,878 | |
Term Loan B (1 mo. USD LIBOR + 4.75%) | 4.89% | 08/04/2028 | 790 | 791,659 | ||
7,797,136 | ||||||
Brokers, Dealers & Investment Houses–0.24% | ||||||
AqGen Island Intermediate Holdings, Inc. | ||||||
First Lien Term Loan B (1 mo. USD LIBOR + 3.50%) | 4.00% | 12/03/2026 | 600 | 596,232 | ||
Second Lien Term Loan B(g) | – | 08/05/2029 | 21 | 20,810 | ||
Zebra Buyer LLC, First Lien Term Loan(g) | – | 04/22/2028 | 511 | 511,055 | ||
1,128,097 | ||||||
Building & Development–1.94% | ||||||
Brookfield Retail Holdings VII Sub 3 LLC, Term Loan B (3 mo. USD LIBOR + 2.50%) | 2.59% | 08/27/2025 | 387 | 381,634 | ||
Chariot Buyer LLC, Term Loan B (1 mo. USD LIBOR + 3.50%) | 4.00% | 10/22/2028 | 1,533 | 1,525,611 | ||
IPS Corp./CP Iris Holdco II, Inc. | ||||||
Delayed Draw Term Loan(d) | 0.00% | 09/30/2028 | 21 | 21,484 | ||
First Lien Term Loan (1 mo. USD LIBOR + 3.75%) | 4.25% | 09/30/2028 | 108 | 107,422 | ||
LBM Holdings LLC, Term Loan (1 mo. USD LIBOR + 3.75%) | 4.50% | 12/08/2027 | 92 | 91,042 | ||
Mayfair Mall LLC, Term Loan(e)(g) | – | 04/20/2023 | 707 | 646,658 | ||
Modulaire (United Kingdom), Term Loan B (3 mo. EURIBOR + 4.50%) | 4.50% | 10/08/2028 | EUR | 233 | 263,897 | |
Quikrete Holdings, Inc. | ||||||
First Lien Term Loan (3 mo. USD LIBOR + 2.50%) | 2.59% | 02/01/2027 | 735 | 727,023 | ||
Term Loan B(g) | – | 06/11/2028 | 1,352 | 1,344,250 | ||
Re/Max LLC, Term Loan (1 mo. USD LIBOR + 2.50%) | 3.00% | 06/23/2028 | 1,403 | 1,401,900 | ||
Standard Industries, Inc., Term Loan B (1 mo. USD LIBOR + 2.50%) | 3.00% | 08/31/2028 | 1,358 | 1,356,243 | ||
TAMKO Building Products LLC, Term Loan (1 mo. USD LIBOR + 3.00%) | 3.13% | 05/29/2026 | 167 | 166,961 | ||
Werner FinCo L.P., Term Loan (3 mo. USD LIBOR + 4.00%) | 5.00% | 07/24/2024 | 918 | 917,911 | ||
8,952,036 | ||||||
Business Equipment & Services–12.86% | ||||||
Adevinta ASA (Norway), Term Loan B-2 (1 mo. USD LIBOR + 3.00%) | 3.75% | 06/26/2028 | 497 | 496,969 | ||
Aegion Corp., Term Loan B (1 mo. USD LIBOR + 4.75%) | 5.50% | 03/31/2028 | 491 | 491,783 | ||
Allied Universal Holdco LLC, Term Loan (1 mo. USD LIBOR + 3.75%) | 4.25% | 05/12/2028 | 1,632 | 1,620,857 | ||
Blucora, Inc., Term Loan (1 mo. USD LIBOR + 4.00%)(e) | 5.00% | 05/22/2024 | 925 | 925,869 |
Interest Rate | Maturity Date | Principal Amount (000)(a) | Value | ||
Business Equipment & Services–(continued) | |||||
Camelot Finance L.P. | |||||
Incremental Term Loan B (1 mo. USD LIBOR + 3.00%) | 4.00% | 10/30/2026 | $ 1,756 | $ 1,755,950 | |
Term Loan (1 mo. USD LIBOR + 3.00%) | 3.09% | 10/30/2026 | 1,144 | 1,136,091 | |
Checkout Holding Corp. | |||||
First Lien Term Loan (3 mo. USD LIBOR + 7.50%) (Acquired 02/15/2019-11/12/2020; Cost $332,668)(f) | 8.50% | 02/15/2023 | 345 | 332,134 | |
PIK Term Loan, 9.50% PIK Rate, 2.00% Cash Rate (Acquired 02/15/2019-11/29/2021; Cost $534,127)(f)(h) | 9.50% | 08/15/2023 | 539 | 279,499 | |
Cimpress USA, Inc., Term Loan B (1 mo. USD LIBOR + 3.50%) | 4.00% | 04/30/2028 | 881 | 881,433 | |
Ciox, Term Loan (1 mo. USD LIBOR + 4.25%) | 5.00% | 12/16/2025 | 172 | 172,140 | |
Constant Contact | |||||
Second Lien Term Loan (1 mo. USD LIBOR + 7.50%)(e) | 8.25% | 02/15/2029 | 818 | 810,272 | |
Term Loan B (1 mo. USD LIBOR + 4.00%) | 4.75% | 02/10/2028 | 1,701 | 1,695,649 | |
CRCI Longhorn Holdings, Inc., Second Lien Term Loan (3 mo. USD LIBOR + 7.25%) | 7.34% | 08/08/2026 | 72 | 71,490 | |
Creation Technologies, Inc., Term Loan B (1 mo. USD LIBOR + 5.50%)(e) | 6.00% | 09/28/2028 | 838 | 838,687 | |
Dakota Holding Corp. | |||||
First Lien Term Loan (1 mo. USD LIBOR + 3.75%) | 4.75% | 04/09/2027 | 1,996 | 1,995,585 | |
Second Lien Term Loan (1 mo. USD LIBOR + 6.75%)(e) | 7.50% | 04/07/2028 | 678 | 691,047 | |
Dun & Bradstreet Corp. (The), Term Loan (1 mo. USD LIBOR + 3.25%) | 3.34% | 02/06/2026 | 759 | 751,941 | |
Ensono L.P., Term Loan B (1 mo. USD LIBOR + 4.00%) | 4.75% | 05/19/2028 | 791 | 789,223 | |
EP Purchaser LLC, Term Loan B (1 mo. USD LIBOR + 3.50%) | 4.00% | 10/31/2028 | 482 | 479,816 | |
Garda World Security Corp. (Canada), Term Loan (1 mo. USD LIBOR + 4.25%) | 4.35% | 10/30/2026 | 1,653 | 1,654,219 | |
GI Revelation Acquisition LLC, First Lien Term Loan (1 mo. USD LIBOR + 4.00%) | 4.50% | 05/12/2028 | 2,831 | 2,804,607 | |
Grandir (France), Term Loan B-1 (3 mo. EURIBOR + 4.25%) | 4.25% | 10/21/2028 | EUR | 209 | 238,118 |
Holding Socotec (France), Term Loan B (1 mo. USD LIBOR + 4.25%) | 4.38% | 05/07/2028 | 81 | 80,652 | |
INDIGOCYAN Midco Ltd. (Jersey), Term Loan B (3 mo. GBP LIBOR + 4.75%) | 4.84% | 06/23/2024 | GBP | 2,029 | 2,639,058 |
ION Trading Technologies S.a.r.l. (Luxembourg) | |||||
Term Loan B (3 mo. EURIBOR + 4.25%) | 4.25% | 03/31/2028 | EUR | 458 | 520,593 |
Term Loan B (1 mo. USD LIBOR + 4.75%) | 4.92% | 03/31/2028 | 1,035 | 1,034,790 | |
Karman Buyer Corp. | |||||
First Lien Term Loan (3 mo. USD LIBOR + 6.00%) | 5.25% | 10/28/2027 | 2,442 | 2,451,084 | |
Term Loan (1 mo. USD LIBOR + 4.50%) | 5.25% | 10/28/2027 | 372 | 373,164 | |
Monitronics International, Inc. | |||||
First Lien Term Loan (1 mo. USD LIBOR + 6.50%) | 7.75% | 03/29/2024 | 5,130 | 4,830,991 | |
Term Loan (1 mo. USD LIBOR + 5.00%) | 6.50% | 08/30/2024 | 3,005 | 3,018,405 | |
NAS LLC | |||||
Revolver Loan(d)(e) | 0.00% | 06/01/2024 | 514 | 516,165 | |
Term Loan (3 mo. USD LIBOR + 6.50%)(e) | 7.50% | 06/03/2024 | 5,033 | 5,058,120 | |
OCM System One Buyer CTB LLC, Term Loan (1 mo. USD LIBOR + 4.00%)(e) | 4.75% | 03/02/2028 | 721 | 720,454 | |
Orchid Merger Sub II LLC, Term Loan B (1 mo. USD LIBOR + 4.75%)(e) | 5.25% | 05/15/2027 | 1,546 | 1,484,624 | |
Outfront Media Capital LLC, Term Loan (1 mo. USD LIBOR + 1.75%) | 1.84% | 11/18/2026 | 1,556 | 1,523,541 | |
Prime Security Services Borrower LLC, Term Loan B-1 (1 mo. USD LIBOR + 2.75%) | 3.50% | 09/23/2026 | 2,171 | 2,163,763 | |
Protect America | |||||
Revolver Loan (1 mo. USD LIBOR + 3.00%)(e) | 3.12% | 09/01/2024 | 1,614 | 1,485,215 | |
Revolver Loan(d)(e) | 0.00% | 09/01/2024 | 373 | 342,950 | |
Red Ventures LLC (New Imagitas, Inc.), Term Loan B-3 (1 mo. USD LIBOR + 3.50%) | 4.25% | 11/08/2024 | 879 | 879,759 | |
Sitel Worldwide Corp., Term Loan B (1 mo. USD LIBOR + 3.75%) | 4.25% | 08/28/2028 | 349 | 347,986 | |
Solera, Term Loan B (1 mo. USD LIBOR + 5.25%) | 5.30% | 06/05/2028 | GBP | 237 | 314,758 |
Spin Holdco, Inc., Term Loan B (1 mo. USD LIBOR + 4.00%) | 4.75% | 03/04/2028 | 4,297 | 4,301,817 | |
Sportradar Capital (Switzerland), Term Loan (3 mo. EURIBOR + 3.50%) | 3.50% | 11/22/2027 | EUR | 233 | 264,267 |
Tempo Acquisition LLC, Incremental Term Loan (1 mo. USD LIBOR + 3.00%) | 3.50% | 09/01/2028 | 221 | 220,405 |
Interest Rate | Maturity Date | Principal Amount (000)(a) | Value | |||
Business Equipment & Services–(continued) | ||||||
Thermostat Purchaser III, Inc. | ||||||
Delayed Draw Term Loan(d)(e) | 0.00% | 08/30/2028 | $ 111 | $ 110,592 | ||
Term Loan B (1 mo. USD LIBOR + 4.50%)(e) | 4.68% | 08/30/2028 | 474 | 472,927 | ||
Trans Union LLC, Second Lien Term Loan (1 mo. USD LIBOR + 5.00%)(e) | 5.09% | 12/31/2029 | 363 | 363,175 | ||
UnitedLex Corp., Term Loan (1 mo. USD LIBOR + 5.75%)(e) | 5.88% | 03/20/2027 | 535 | 537,858 | ||
Verra Mobility Corp., Term Loan B (1 mo. USD LIBOR + 3.25%) | 3.42% | 03/19/2028 | 1,235 | 1,229,105 | ||
Virtusa Corp., Term Loan (1 mo. USD LIBOR + 3.75%) | 4.50% | 02/11/2028 | 643 | 642,547 | ||
WebHelp (France), Term Loan B (1 mo. USD LIBOR + 4.00%) | 4.50% | 07/30/2028 | 631 | 630,051 | ||
59,472,195 | ||||||
Cable & Satellite Television–1.58% | ||||||
Altice Financing S.A. (Luxembourg) | ||||||
Term Loan (3 mo. USD LIBOR + 2.75%) | 2.87% | 07/15/2025 | 357 | 350,149 | ||
Term Loan (3 mo. USD LIBOR + 2.75%) | 2.87% | 01/31/2026 | 166 | 162,749 | ||
Atlantic Broadband Finance LLC, Incremental Term Loan(g) | – | 07/28/2028 | 101 | 100,234 | ||
CSC Holdings LLC | ||||||
Incremental Term Loan (3 mo. USD LIBOR + 2.25%) | 2.34% | 01/15/2026 | 426 | 418,633 | ||
Term Loan (3 mo. USD LIBOR + 2.25%) | 2.34% | 07/17/2025 | 707 | 694,148 | ||
Numericable-SFR S.A. (France), Incremental Term Loan B-13 (3 mo. USD LIBOR + 4.00%) | 4.12% | 08/14/2026 | 534 | 531,048 | ||
ORBCOMM, Inc., Term Loan B (1 mo. USD LIBOR + 4.25%) | 5.00% | 06/26/2028 | 390 | 389,913 | ||
Telenet - LG, Term Loan AR (6 mo. USD LIBOR + 2.00%) | 2.09% | 04/15/2028 | 205 | 201,043 | ||
UPC - LG | ||||||
Term Loan AT (1 mo. USD LIBOR + 2.25%) | 2.34% | 04/30/2028 | 255 | 251,686 | ||
Term Loan AX (1 mo. USD LIBOR + 3.00%) | 3.09% | 01/31/2029 | 1,884 | 1,872,005 | ||
Virgin Media 02 - LG (United Kingdom), Term Loan Q (1 mo. USD LIBOR + 3.25%) | 3.34% | 01/15/2029 | 2,292 | 2,289,423 | ||
Vodafone Ziggo - LG, Term Loan I (1 mo. USD LIBOR + 2.50%) | 2.59% | 04/15/2028 | 27 | 26,357 | ||
7,287,388 | ||||||
Chemicals & Plastics–4.31% | ||||||
AkzoNobel Chemicals, Term Loan (3 mo. USD LIBOR + 3.00%) | 3.09% | 10/01/2025 | 930 | 920,101 | ||
Aruba Investments, Inc. | ||||||
First Lien Term Loan (1 mo. USD LIBOR + 4.00%) | 4.75% | 11/24/2027 | 502 | 502,629 | ||
Second Lien Term Loan (1 mo. USD LIBOR + 7.75%) | 8.50% | 11/24/2028 | 815 | 822,630 | ||
Ascend Performance Materials Operations LLC, Term Loan (1 mo. USD LIBOR + 4.75%) | 5.50% | 08/27/2026 | 2,582 | 2,597,056 | ||
BASF Construction Chemicals (Germany), Term Loan B-3 (1 mo. USD LIBOR + 3.50%) | 4.25% | 09/29/2027 | 483 | 482,850 | ||
BCPE Max Dutch Bidco B.V. (Netherlands), Term Loan B (3 mo. EURIBOR + 4.25%) | 4.25% | 10/31/2025 | EUR | 124 | 136,893 | |
Charter NEX US, Inc., Term Loan B (1 mo. USD LIBOR + 3.75%) | 4.50% | 12/01/2027 | 775 | 776,109 | ||
Colouroz Investment LLC (Germany) | ||||||
First Lien Term Loan B-4(h) | 5.00% | 09/21/2023 | EUR | 0 | 22 | |
First Lien Term Loan B-5(h) | 5.00% | 09/21/2023 | EUR | 9 | 10,368 | |
PIK First Lien Term Loan B-2, 0.75% PIK Rate, 5.25% Cash Rate(h) | 5.25% | 09/21/2023 | 2,009 | 2,001,477 | ||
PIK First Lien Term Loan C, 0.75% PIK Rate, 5.25% Cash Rate(h) | 0.75% | 09/21/2023 | 316 | 315,185 | ||
PIK First Lien Term Loan, 0.75% PIK Rate, 5.00% Cash Rate(h) | 5.00% | 09/21/2023 | EUR | 67 | 75,103 | |
PIK Second Lien Term Loan B-2, 5.75% PIK Rate, 5.25% Cash Rate(h) | 5.75% | 09/05/2022 | 14 | 14,336 | ||
Eastman Tire Additives, Term Loan B (1 mo. USD LIBOR + 5.25%)(e) | 6.00% | 08/12/2028 | 725 | 726,849 | ||
Fusion, Term Loan (1 mo. USD LIBOR + 6.50%)(e) | 7.50% | 04/30/2026 | 880 | 901,538 | ||
Gemini HDPE LLC, Term Loan B (1 mo. USD LIBOR + 3.00%) | 3.50% | 12/11/2027 | 709 | 706,707 | ||
ICP Group Holdings LLC | ||||||
First Lien Term Loan (1 mo. USD LIBOR + 3.75%) | 4.50% | 01/14/2028 | 794 | 791,895 | ||
Second Lien Term Loan (1 mo. USD LIBOR + 7.75%) | 8.50% | 01/14/2029 | 167 | 167,113 | ||
INEOS Quattro Holdings Ltd. (United Kingdom), Term Loan B (1 mo. USD LIBOR + 2.75%) | 3.25% | 01/21/2026 | 925 | 923,611 | ||
Ineos US Finance LLC (Luxembourg), Term Loan (1 mo. USD LIBOR + 2.50%) | 3.00% | 11/05/2028 | 579 | 576,869 | ||
Kersia International S.A.S. (Belgium), Term Loan B (3 mo. EURIBOR + 4.00%) | 4.00% | 11/30/2027 | EUR | 187 | 213,528 |
Interest Rate | Maturity Date | Principal Amount (000)(a) | Value | |||
Chemicals & Plastics–(continued) | ||||||
KPEX Holdings, Inc., Second Lien Term Loan (3 mo. USD LIBOR + 7.00%) | 8.00% | 01/31/2026 | $ 149 | $ 139,269 | ||
Kraton Corp., Term Loan (1 mo. USD LIBOR + 3.25%) | 3.75% | 11/18/2028 | 353 | 351,221 | ||
Lonza Solutions (Switzerland), Term Loan B (1 mo. USD LIBOR + 4.00%) | 4.75% | 04/28/2028 | 561 | 561,284 | ||
Lummus Technology, Term Loan B (1 mo. USD LIBOR + 3.50%) | 3.59% | 06/30/2027 | 201 | 199,579 | ||
Messer Industries USA, Inc., Term Loan B-1 (3 mo. USD LIBOR + 2.50%) | 2.63% | 03/02/2026 | 231 | 228,805 | ||
Oxea Corp., Term Loan B-2 (3 mo. USD LIBOR + 3.25%) | 3.44% | 10/14/2024 | 384 | 381,963 | ||
Perstorp Holding AB (Sweden), Term Loan B (3 mo. USD LIBOR + 4.75%) | 4.91% | 02/27/2026 | 936 | 932,770 | ||
PharmaZell GmbH (Germany), Term Loan B(g) | – | 06/11/2027 | EUR | 34 | 38,162 | |
Potters Industries LLC, Term Loan B (1 mo. USD LIBOR + 4.00%) | 4.75% | 12/14/2027 | 431 | 429,400 | ||
PQ Corp., Term Loan B (1 mo. USD LIBOR + 2.75%) | 3.25% | 05/27/2028 | 904 | 903,837 | ||
Proampac PG Borrower LLC, First Lien Term Loan (1 mo. USD LIBOR + 3.75%) | 4.50% | 11/03/2025 | 1,004 | 1,001,515 | ||
W.R. Grace & Co., Term Loan B (1 mo. USD LIBOR + 3.75%) | 4.25% | 08/11/2028 | 1,097 | 1,096,072 | ||
19,926,746 | ||||||
Clothing & Textiles–0.58% | ||||||
BK LC Lux SPV S.a.r.l., Term Loan B (1 mo. USD LIBOR + 3.25%) | 3.75% | 04/27/2028 | 940 | 934,510 | ||
Gloves Buyer, Inc., Term Loan (1 mo. USD LIBOR + 3.75%) | 4.50% | 01/20/2028 | 756 | 752,681 | ||
International Textile Group, Inc., First Lien Term Loan (3 mo. USD LIBOR + 5.00%) | 5.17% | 05/01/2024 | 121 | 111,714 | ||
Mascot Bidco OYJ (Finland), Term Loan B (3 mo. EURIBOR + 4.50%) | 4.50% | 03/30/2026 | EUR | 771 | 875,625 | |
2,674,530 | ||||||
Conglomerates–0.43% | ||||||
APi Group DE, Inc., Incremental Term Loan (1 mo. USD LIBOR + 2.75%) | 2.85% | 01/01/2029 | 652 | 649,854 | ||
Safe Fleet Holdings LLC | ||||||
First Lien Term Loan (3 mo. USD LIBOR + 3.00%) | 4.00% | 02/03/2025 | 890 | 885,830 | ||
First Lien Term Loan B-1 (3 mo. USD LIBOR + 3.75%)(e) | 4.75% | 02/03/2025 | 257 | 257,377 | ||
Second Lien Term Loan (3 mo. USD LIBOR + 6.75%) | 7.75% | 02/02/2026 | 192 | 191,549 | ||
1,984,610 | ||||||
Containers & Glass Products–2.24% | ||||||
Duran Group (Germany), Term Loan B-2 (3 mo. USD LIBOR + 4.00%)(e) | 4.75% | 03/29/2024 | 2,497 | 2,460,098 | ||
Hoffmaster Group, Inc., First Lien Term Loan B-1 (1 mo. USD LIBOR + 4.00%) | 5.00% | 11/21/2023 | 2,097 | 1,932,768 | ||
Klockner Pentaplast of America, Inc. | ||||||
Term Loan B (1 mo. USD LIBOR + 4.75%) | 5.25% | 02/12/2026 | 336 | 325,702 | ||
Term Loan B (3 mo. EURIBOR + 4.75%) | 4.75% | 03/01/2026 | EUR | 313 | 342,608 | |
LABL, Inc. | ||||||
Term Loan B (3 mo. EURIBOR + 5.00%) | 5.00% | 10/31/2028 | EUR | 490 | 556,108 | |
Term Loan B (1 mo. USD LIBOR + 5.00%) | 5.50% | 10/31/2028 | 2,132 | 2,125,570 | ||
Libbey Glass, Inc., PIK Term Loan, 6.00% PIK Rate, 5.00% Cash Rate (Acquired 11/13/2020-11/12/2021; Cost $682,042)(f)(h) | 5.00% | 11/12/2025 | 741 | 770,324 | ||
Logoplaste (Portugal), Term Loan B (1 mo. USD LIBOR + 4.25%) | 4.75% | 07/07/2028 | 423 | 422,083 | ||
Mold-Rite Plastics LLC | ||||||
First Lien Term Loan (1 mo. USD LIBOR + 3.75%) | 4.25% | 10/04/2028 | 279 | 279,024 | ||
Second Lien Term Loan (1 mo. USD LIBOR + 7.00%)(e) | 7.50% | 10/04/2029 | 224 | 224,958 | ||
Pretium Packaging | ||||||
First Lien Term Loan (1 mo. USD LIBOR + 4.00%) | 4.50% | 10/02/2028 | 751 | 749,570 | ||
Second Lien Term Loan B (1 mo. USD LIBOR + 6.75%) | 7.25% | 09/30/2029 | 184 | 185,686 | ||
10,374,499 | ||||||
Cosmetics & Toiletries–0.91% | ||||||
Anastasia Parent LLC, Term Loan (3 mo. USD LIBOR + 3.75%) | 3.88% | 08/11/2025 | 462 | 401,805 | ||
Coty, Inc., Term Loan B (3 mo. USD LIBOR + 2.25%) | 2.34% | 04/05/2025 | 2,996 | 2,940,606 | ||
IRIS Bidco GmbH (Germany), Term Loan B (3 mo. EURIBOR + 5.00%) | 5.00% | 05/25/2028 | EUR | 650 | 739,901 |
Interest Rate | Maturity Date | Principal Amount (000)(a) | Value | |||
Cosmetics & Toiletries–(continued) | ||||||
KDC/One (Canada), Term Loan (3 mo. EURIBOR + 5.00%) | 5.00% | 12/22/2025 | EUR | 107 | $ 121,060 | |
4,203,372 | ||||||
Drugs–0.57% | ||||||
Bausch Health Americas, Inc., First Lien Incremental Term Loan (3 mo. USD LIBOR + 2.75%) | 2.84% | 11/27/2025 | $ 424 | 420,201 | ||
Endo LLC, Term Loan (1 mo. USD LIBOR + 5.00%) | 5.75% | 03/10/2028 | 1,880 | 1,833,999 | ||
Grifols Worldwide Operations USA, Inc., Term Loan B (1 mo. USD LIBOR + 2.00%) | 2.08% | 11/15/2027 | 5 | 4,962 | ||
Valeant Pharmaceuticals International, Inc. (Canada), Term Loan (3 mo. USD LIBOR + 3.00%) | 3.09% | 06/02/2025 | 397 | 393,904 | ||
2,653,066 | ||||||
Ecological Services & Equipment–0.72% | ||||||
Anticimex (Sweden), Term Loan B (1 mo. USD LIBOR + 3.50%) | 4.00% | 07/21/2028 | 922 | 917,981 | ||
EnergySolutions LLC, Term Loan (3 mo. USD LIBOR + 3.75%) | 4.75% | 05/11/2025 | 650 | 649,336 | ||
GFL Environmental, Inc. (Canada), Incremental Term Loan (1 mo. USD LIBOR + 3.00%) | 3.50% | 05/30/2025 | 418 | 418,056 | ||
Patriot Container Corp., First Lien Term Loan (1 mo. USD LIBOR + 3.75%)(e) | 4.75% | 03/20/2025 | 487 | 480,378 | ||
TruGreen L.P., Second Lien Term Loan (1 mo. USD LIBOR + 7.50%) | 9.50% | 11/02/2028 | 827 | 839,612 | ||
3,305,363 | ||||||
Electronics & Electrical–13.88% | ||||||
Altar BidCo, Inc. | ||||||
First Lien Term Loan(g) | – | 11/17/2028 | 634 | 630,810 | ||
Second Lien Term Loan(g) | – | 12/01/2029 | 206 | 207,094 | ||
AppLovin Corp., Term Loan B (1 mo. USD LIBOR + 3.00%) | 3.50% | 10/21/2028 | 834 | 830,105 | ||
Barracuda Networks, Inc., Second Lien Term Loan (1 mo. USD LIBOR + 6.75%) | 7.50% | 10/30/2028 | 111 | 112,928 | ||
Boxer Parent Co., Inc., Term Loan B (3 mo. EURIBOR + 4.00%) | 4.00% | 10/02/2025 | EUR | 20 | 22,910 | |
Brave Parent Holdings, Inc., First Lien Term Loan (3 mo. USD LIBOR + 4.00%) | 4.09% | 04/18/2025 | 456 | 456,279 | ||
CommerceHub, Inc., Term Loan B (1 mo. USD LIBOR + 4.00%) | 4.75% | 01/01/2028 | 846 | 838,795 | ||
CommScope, Inc., Term Loan (3 mo. USD LIBOR + 3.25%) | 3.34% | 04/06/2026 | 637 | 621,476 | ||
ConnectWise LLC, Term Loan (1 mo. USD LIBOR + 3.50%) | 4.00% | 10/01/2028 | 738 | 733,285 | ||
Cornerstone OnDemand, Term Loan B (1 mo. USD LIBOR + 3.75%) | 4.25% | 09/30/2028 | 629 | 627,003 | ||
Delta Topco, Inc. | ||||||
First Lien Term Loan (1 mo. USD LIBOR + 3.75%) | 4.50% | 12/01/2027 | 2,502 | 2,498,576 | ||
Second Lien Term Loan (1 mo. USD LIBOR + 7.25%) | 8.00% | 12/01/2028 | 358 | 361,867 | ||
Devoteam (Castillon S.A.S. - Bidco) (France), Term Loan B (3 mo. EURIBOR + 4.50%) | 4.50% | 12/09/2027 | EUR | 179 | 203,665 | |
Diebold Nixdorf, Inc., Term Loan B (3 mo. USD LIBOR + 2.75%) | 2.88% | 11/06/2023 | 901 | 885,391 | ||
E2Open LLC, Term Loan (1 mo. USD LIBOR + 3.50%) | 4.00% | 02/04/2028 | 1,166 | 1,165,206 | ||
ETA Australia Holdings III Pty. Ltd. (Australia), First Lien Term Loan (3 mo. USD LIBOR + 4.00%) | 4.09% | 05/06/2026 | 975 | 966,529 | ||
EverCommerce, Term Loan B (1 mo. USD LIBOR + 3.00%) | 3.50% | 07/01/2028 | 512 | 509,839 | ||
Finastra USA, Inc. (United Kingdom), First Lien Term Loan (3 mo. USD LIBOR + 3.50%) | 4.50% | 06/13/2024 | 566 | 561,958 | ||
Forcepoint, Term Loan B (1 mo. USD LIBOR + 4.50%) | 5.00% | 01/07/2028 | 914 | 916,061 | ||
Hyland Software, Inc. | ||||||
First Lien Term Loan (1 mo. USD LIBOR + 3.50%) | 4.25% | 07/01/2024 | 313 | 313,287 | ||
Second Lien Term Loan (1 mo. USD LIBOR + 6.25%) | 7.00% | 07/07/2025 | 210 | 212,805 | ||
Imperva, Inc. | ||||||
Second Lien Term Loan (3 mo. USD LIBOR + 7.75%) | 8.75% | 01/11/2027 | 988 | 993,343 | ||
Term Loan (3 mo. USD LIBOR + 4.00%) | 5.00% | 01/10/2026 | 126 | 126,047 | ||
Infinite Electronics | ||||||
Second Lien Term Loan (1 mo. USD LIBOR + 7.00%) | 7.50% | 03/02/2029 | 295 | 296,686 | ||
Term Loan B (1 mo. USD LIBOR + 3.75%) | 4.25% | 02/24/2028 | 420 | 419,094 | ||
Informatica Corp., Term Loan (1 mo. USD LIBOR + 2.75%) | 2.88% | 10/15/2028 | 119 | 118,342 | ||
Instructure Holdings, Inc., Term Loan (1 mo. USD LIBOR + 2.75%) | 3.25% | 11/01/2028 | 290 | 288,480 | ||
ION Corp., Term Loan B (1 mo. USD LIBOR + 3.75%) | 3.92% | 03/05/2028 | 480 | 476,636 | ||
Liftoff/Vungle, Term Loan B (1 mo. USD LIBOR + 3.75%) | 4.25% | 09/30/2028 | 296 | 294,409 |
Interest Rate | Maturity Date | Principal Amount (000)(a) | Value | ||
Electronics & Electrical–(continued) | |||||
LogMeIn, Term Loan B (1 mo. USD LIBOR + 4.75%) | 4.84% | 08/28/2027 | $ 3,676 | $ 3,659,101 | |
Marcel Bidco LLC, Incremental Term Loan B (1 mo. USD LIBOR + 4.00%)(e) | 4.75% | 12/31/2027 | 93 | 92,719 | |
Mavenir Systems, Inc., Term Loan B (1 mo. USD LIBOR + 4.75%) | 5.25% | 08/13/2028 | 1,129 | 1,131,442 | |
Maverick Bidco, Inc. | |||||
First Lien Term Loan (1 mo. USD LIBOR + 3.75%) | 4.50% | 05/18/2028 | 451 | 451,574 | |
Second Lien Term Loan (1 mo. USD LIBOR + 6.75%)(e) | 7.50% | 04/28/2029 | 49 | 49,130 | |
McAfee Enterprise | |||||
Second Lien Term Loan (1 mo. USD LIBOR + 8.25%) | 9.00% | 05/03/2029 | 628 | 623,814 | |
Term Loan B (1 mo. USD LIBOR + 5.00%) | 5.75% | 05/03/2028 | 2,084 | 2,055,824 | |
Mediaocean LLC, Term Loan B (1 mo. USD LIBOR + 4.00%) | 4.09% | 08/18/2025 | 277 | 276,859 | |
Micro Holding L.P., Term Loan (1 mo. USD LIBOR + 3.75%) | 4.75% | 09/13/2024 | 2,138 | 2,133,105 | |
MKS Instruments, Inc., Term Loan B (1 mo. USD LIBOR + 2.25%) | 2.75% | 11/01/2028 | 2,319 | 2,313,368 | |
Natel Engineering Co., Inc., Term Loan (3 mo. USD LIBOR + 6.25%) | 7.25% | 04/29/2026 | 2,096 | 2,055,115 | |
NCR Corp., Term Loan B (1 mo. USD LIBOR + 2.50%) | 2.63% | 08/28/2026 | 957 | 938,639 | |
Oberthur Tech, Term Loan B-4(g) | – | 01/10/2026 | EUR | 159 | 180,882 |
Oberthur Technologies of America Corp. | |||||
Term Loan B (3 mo. EURIBOR + 4.50%) (Acquired 04/01/2021-04/23/2021; Cost $1,741,534)(f) | 4.50% | 01/09/2026 | EUR | 1,455 | 1,658,494 |
Term Loan B (1 mo. USD LIBOR + 4.50%) (Acquired 04/01/2021-09/14/2021; Cost $1,296,096)(f) | 5.25% | 01/09/2026 | 1,306 | 1,304,930 | |
Optiv, Inc. | |||||
Second Lien Term Loan (3 mo. USD LIBOR + 7.25%) | 8.25% | 01/31/2025 | 417 | 416,733 | |
Term Loan (3 mo. USD LIBOR + 3.25%) | 4.25% | 02/01/2024 | 3,570 | 3,538,142 | |
Project Accelerate Parent LLC, First Lien Term Loan (3 mo. USD LIBOR + 4.25%)(e) | 5.25% | 01/02/2025 | 1,204 | 1,202,389 | |
Project Leopard Holdings, Inc. | |||||
Incremental Term Loan (3 mo. USD LIBOR + 4.75%) | 5.75% | 07/05/2024 | 1,561 | 1,566,754 | |
Term Loan (3 mo. USD LIBOR + 4.75%) | 5.75% | 07/05/2024 | 518 | 519,868 | |
Proofpoint, Inc., Term Loan B (1 mo. USD LIBOR + 3.25%) | 3.75% | 06/10/2028 | 1,526 | 1,513,117 | |
Quest Software US Holdings, Inc. | |||||
First Lien Term Loan (3 mo. USD LIBOR + 4.25%) | 4.38% | 05/16/2025 | 4,100 | 4,100,624 | |
Second Lien Term Loan (3 mo. USD LIBOR + 8.25%) | 8.38% | 05/16/2026 | 484 | 484,932 | |
RealPage, Inc., Term Loan B (1 mo. USD LIBOR + 3.25%) | 3.75% | 02/15/2028 | 1,378 | 1,366,688 | |
Renaissance Holding Corp., Second Lien Term Loan (3 mo. USD LIBOR + 7.00%) | 7.09% | 05/29/2026 | 359 | 360,680 | |
Resideo Funding, Inc., Term Loan B (1 mo. USD LIBOR + 2.50%) | 2.75% | 02/08/2028 | 368 | 368,095 | |
Riverbed Technology, Inc. | |||||
First Lien Term Loan(i)(j) | 7.00% | 12/31/2025 | 3,492 | 3,175,705 | |
PIK Second Lien Term Loan, 4.50% PIK Rate(i)(j) | 0.00% | 12/31/2026 | 1,359 | 384,639 | |
Term Loan (3 mo. USD LIBOR + 3.25%)(i)(j) | 4.25% | 04/24/2022 | 402 | 364,231 | |
Sandvine Corp. | |||||
First Lien Term Loan (3 mo. USD LIBOR + 4.50%) | 4.59% | 10/31/2025 | 1,378 | 1,377,495 | |
Second Lien Term Loan (1 mo. USD LIBOR + 8.00%)(e) | 8.09% | 11/02/2026 | 190 | 188,975 | |
Skillsoft Corp., Term Loan B (1 mo. USD LIBOR + 4.75%) | 5.50% | 07/01/2028 | 1,031 | 1,036,576 | |
SmartBear (AQA Acquisition Holdings, Inc), Term Loan B (1 mo. USD LIBOR + 4.25%) | 4.75% | 03/03/2028 | 587 | 587,215 | |
Synaptics, Inc., Term Loan B (1 mo. USD LIBOR + 2.25%) | 2.75% | 12/15/2028 | 335 | 334,185 | |
Tenable Holdings, Inc., Term Loan B (1 mo. USD LIBOR + 2.75%) | 3.25% | 07/07/2028 | 265 | 264,433 | |
Ultimate Software Group, Inc. | |||||
First Lien Term Loan (3 mo. USD LIBOR + 3.75%) | 3.84% | 05/04/2026 | 2,080 | 2,072,902 | |
Incremental Term Loan B (1 mo. USD LIBOR + 3.25%) | 4.00% | 05/01/2026 | 372 | 371,132 | |
UST Holdings Ltd., Term Loan B(g) | – | 10/15/2028 | 708 | 706,773 | |
Veritas US, Inc. | |||||
Term Loan B (3 mo. EURIBOR + 4.75%) | 5.75% | 09/01/2025 | EUR | 447 | 509,869 |
Term Loan B (1 mo. USD LIBOR + 5.00%) | 6.00% | 09/01/2025 | 681 | 678,269 |
Interest Rate | Maturity Date | Principal Amount (000)(a) | Value | |||
Electronics & Electrical–(continued) | ||||||
WebPros, Term Loan (1 mo. USD LIBOR + 5.25%) | 5.75% | 02/18/2027 | $ 1,053 | $ 1,054,784 | ||
64,159,107 | ||||||
Farming/Agriculture–0.04% | ||||||
ASP Blade Holdings, Term Loan B (1 mo. USD LIBOR + 4.00%) | 4.50% | 10/15/2028 | 197 | 197,194 | ||
Financial Intermediaries–0.92% | ||||||
Alter Domus (Participations S.a.r.l.) (Luxembourg), Term Loan B (g) | – | 02/17/2028 | 376 | 376,196 | ||
Edelman Financial Center LLC (The) | ||||||
Incremental Term Loan (1 mo. USD LIBOR + 3.50%) | 4.25% | 03/15/2028 | 2,280 | 2,273,234 | ||
Second Lien Term Loan (3 mo. USD LIBOR + 6.75%) | 6.84% | 07/20/2026 | 111 | 111,512 | ||
LendingTree, Inc., Delayed Draw Term Loan(d) | 0.00% | 08/31/2028 | 841 | 840,244 | ||
Stiphout Finance LLC, Incremental Term Loan (1 mo. USD LIBOR + 3.75%) | 4.75% | 10/26/2025 | 175 | 175,447 | ||
Tegra118 Wealth Solutions, Inc., Term Loan (1 mo. USD LIBOR + 4.00%) | 4.16% | 02/18/2027 | 462 | 461,703 | ||
4,238,336 | ||||||
Food Products–2.47% | ||||||
Arnott’s (Snacking Investments US LLC), Term Loan (1 mo. USD LIBOR + 4.00%) | 5.00% | 12/18/2026 | 867 | 869,099 | ||
Biscuit Intl (Cookie Acq S.A.S, De Banketgroep Holding) (France), First Lien Term Loan (3 mo. EURIBOR + 4.00%) | 4.00% | 02/07/2027 | EUR | 275 | 304,718 | |
BrightPet | ||||||
Delayed Draw Term Loan(d)(e) | 0.00% | 10/05/2026 | 671 | 664,027 | ||
Revolver Loan (3 mo. USD LIBOR + 6.25%)(e) | 0.50% | 10/05/2026 | 193 | 190,907 | ||
Revolver Loan(d)(e) | 0.00% | 10/05/2026 | 143 | 141,106 | ||
Term Loan B (3 mo. USD LIBOR + 6.25%)(e) | 7.25% | 10/05/2026 | 2,332 | 2,306,662 | ||
Florida Food Products LLC | ||||||
Second Lien Term Loan (1 mo. USD LIBOR + 8.00%) | 8.75% | 10/15/2029 | 484 | 474,671 | ||
Term Loan (1 mo. USD LIBOR + 5.00%) | 5.75% | 10/18/2028 | 2,603 | 2,573,564 | ||
H-Food Holdings LLC | ||||||
Incremental Term Loan B-3 (1 mo. USD LIBOR + 5.00%) | 6.00% | 05/23/2025 | 169 | 169,379 | ||
Term Loan (3 mo. USD LIBOR + 3.69%) | 3.78% | 05/23/2025 | 1,953 | 1,942,626 | ||
Shearer’s Foods LLC | ||||||
Second Lien Term Loan (1 mo. USD LIBOR + 7.75%) | 8.75% | 09/15/2028 | 232 | 231,824 | ||
Term Loan B (1 mo. USD LIBOR + 3.50%) | 4.25% | 09/23/2027 | 513 | 510,701 | ||
Sigma Bidco B.V. (Netherlands), Term Loan B-1 (3 mo. EURIBOR + 3.50%) | 3.50% | 07/02/2025 | EUR | 427 | 470,571 | |
Valeo Foods (Jersey) Ltd. (United Kingdom), First Lien Term Loan B (6 mo. USD LIBOR + 5.00%) | 5.05% | 06/28/2028 | GBP | 429 | 568,801 | |
11,418,656 | ||||||
Food Service–0.83% | ||||||
Aramark Services, Inc., Term Loan B-3 (1 mo. USD LIBOR + 1.75%) | 1.84% | 03/11/2025 | 116 | 113,453 | ||
Carlisle FoodService Products, Inc., Term Loan (3 mo. USD LIBOR + 3.00%) | 4.00% | 03/20/2025 | 260 | 255,513 | ||
Euro Garages (Netherlands) | ||||||
Term Loan (3 mo. USD LIBOR + 4.00%) | 4.13% | 02/06/2025 | 491 | 487,971 | ||
Term Loan (1 mo. USD LIBOR + 4.25%) | 4.75% | 03/11/2026 | 312 | 312,042 | ||
Term Loan B (3 mo. USD LIBOR + 4.00%) | 4.13% | 02/06/2025 | 440 | 437,152 | ||
Financiere Pax S.A.S., Term Loan B (3 mo. EURIBOR + 4.75%) | 4.75% | 07/01/2026 | EUR | 1,401 | 1,435,224 | |
New Red Finance, Inc., Term Loan B-4 (1 mo. USD LIBOR + 1.75%) | 1.84% | 11/19/2026 | 405 | 396,497 | ||
NPC International, Inc., Second Lien Term Loan(i)(j) | 0.00% | 04/18/2025 | 240 | 4,791 | ||
Weight Watchers International, Inc., Term Loan B (1 mo. USD LIBOR + 3.50%) | 4.00% | 04/13/2028 | 398 | 394,245 | ||
3,836,888 | ||||||
Forest Products–0.08% | ||||||
Ahlstrom-Munksjoe (Finland), Term Loan B (1 mo. USD LIBOR + 4.00%) | 4.75% | 02/04/2028 | 367 | 367,386 |
Interest Rate | Maturity Date | Principal Amount (000)(a) | Value | |||
Forest Products–(continued) | ||||||
Royal Oak Enterprises LLC, Term Loan B (1 mo. USD LIBOR + 3.75%) | 4.25% | 12/16/2027 | $ 16 | $ 15,487 | ||
382,873 | ||||||
Health Care–5.55% | ||||||
Acacium Group (United Kingdom), Term Loan | 5.30% | 05/19/2028 | GBP | 295 | 391,713 | |
Ascend Learning LLC, First Lien Term Loan (1 mo. USD LIBOR + 3.50%) | 4.00% | 11/18/2028 | 173 | 171,845 | ||
athenahealth, Inc., Term Loan B (1 mo. USD LIBOR + 4.25%) | 4.40% | 02/11/2026 | 703 | 703,674 | ||
Biogroup-LCD (France), Term Loan B (3 mo. EURIBOR + 3.75%) | 3.75% | 02/09/2028 | EUR | 292 | 331,142 | |
Certara Holdco, Inc., Term Loan B (1 mo. USD LIBOR + 3.50%) | 3.59% | 08/14/2026 | 542 | 540,061 | ||
Curium BidCo S.a.r.l. (Luxembourg), Term Loan (1 mo. USD LIBOR + 4.25%) | 5.00% | 12/02/2027 | 733 | 734,791 | ||
Ethypharm (France), Term Loan B | 4.50% | 04/30/2029 | GBP | 371 | 491,007 | |
ExamWorks Group, Inc./Electron Bidco, Term Loan (1 mo. USD LIBOR + 3.25%) | 3.75% | 10/10/2028 | 277 | 276,063 | ||
Explorer Holdings, Inc., First Lien Term Loan (1 mo. USD LIBOR + 4.50%) | 5.50% | 02/04/2027 | 1,030 | 1,032,587 | ||
Gainwell Holding Corp., Term Loan B (1 mo. USD LIBOR + 4.00%) | 4.75% | 10/01/2027 | 2,375 | 2,376,939 | ||
Global Healthcare Exchange LLC, First Lien Term Loan (3 mo. USD LIBOR + 3.25%) | 4.25% | 06/28/2024 | 299 | 298,070 | ||
Global Medical Response, Inc. | ||||||
Term Loan (3 mo. USD LIBOR + 4.25%) | 5.25% | 03/14/2025 | 315 | 312,831 | ||
Term Loan (1 mo. USD LIBOR + 4.25%) | 5.25% | 10/02/2025 | 1,503 | 1,495,013 | ||
HC Group Holdings III, Inc., Term Loan B (1 mo. USD LIBOR + 2.75%) | 3.25% | 10/25/2028 | 328 | 327,284 | ||
ICON PLC | ||||||
Term Loan (1 mo. USD LIBOR + 2.50%) | 3.00% | 06/16/2028 | 46 | 45,430 | ||
Term Loan (1 mo. USD LIBOR + 2.50%) | 3.00% | 06/16/2028 | 183 | 182,339 | ||
ImageFirst | ||||||
Delayed Draw Term Loan (1 mo. USD LIBOR + 4.50%)(e) | 5.25% | 04/27/2028 | 14 | 13,998 | ||
Term Loan B (1 mo. USD LIBOR + 4.50%) | 5.25% | 04/27/2028 | 175 | 174,758 | ||
Term Loan B(d)(e) | 0.00% | 04/27/2028 | 44 | 44,328 | ||
Insulet Corp., Term Loan (1 mo. USD LIBOR + 3.25%) | 3.75% | 04/28/2028 | 468 | 468,675 | ||
International SOS L.P., Term Loan B (1 mo. USD LIBOR + 3.75%) | 4.25% | 08/06/2028 | 637 | 639,203 | ||
MedAssets Software Intermediate Holdings, Inc. | ||||||
First Lien Term Loan (1 mo. USD LIBOR + 4.00%) | 4.50% | 11/19/2028 | 767 | 763,444 | ||
First Lien Term Loan (1 mo. USD LIBOR + 3.75%) | 4.50% | 01/28/2028 | 826 | 827,139 | ||
Second Lien Term Loan (1 mo. USD LIBOR + 6.75%) | 7.25% | 11/22/2029 | 308 | 308,299 | ||
Nemera (Financiere N BidCo) (France), Incremental Term Loan B (3 mo. EURIBOR + 3.75%) | 3.75% | 01/22/2026 | EUR | 80 | 90,231 | |
Neuraxpharm (Cerebro BidCo/Blitz F20-80 GmbH) (Germany) | ||||||
Term Loan B (3 mo. EURIBOR + 4.25%) | 4.25% | 10/29/2027 | EUR | 138 | 157,744 | |
Term Loan B-2 (3 mo. EURIBOR + 4.25%) | 4.25% | 10/29/2027 | EUR | 80 | 91,119 | |
Nidda Healthcare Holding AG (Germany), Term Loan F (3 mo. GBP LIBOR + 4.50%) | 4.57% | 08/21/2026 | GBP | 314 | 415,729 | |
Organon & Co., Term Loan B (1 mo. USD LIBOR + 3.00%) | 3.50% | 04/08/2028 | 1,148 | 1,146,715 | ||
Ortho-Clinical Diagnostics, Inc., Term Loan (3 mo. USD LIBOR + 3.00%) | 3.08% | 06/30/2025 | 239 | 238,370 | ||
Packaging Coordinators Midco, Inc., First Lien Term Loan B (1 mo. USD LIBOR + 3.50%) | 4.25% | 11/30/2027 | 277 | 276,396 | ||
PAREXEL International Corp., Term Loan B(g) | – | 08/31/2028 | 588 | 586,783 | ||
Revint Intermediate II LLC, Term Loan (1 mo. USD LIBOR + 4.25%) | 4.75% | 10/15/2027 | 1,773 | 1,775,088 | ||
Stamina BidCo B.V. (Netherlands), Term Loan B (3 mo. EURIBOR + 4.50%) | 4.50% | 11/02/2028 | EUR | 127 | 144,051 | |
Summit Behavioral Healthcare LLC, First Lien Term Loan (1 mo. USD LIBOR + 4.75%)(e) | 5.50% | 11/08/2028 | 1,036 | 1,015,407 | ||
Sunshine Luxembourg VII S.a.r.l. (Switzerland), Term Loan (1 mo. USD LIBOR + 3.75%) | 4.50% | 10/01/2026 | 1,425 | 1,422,269 | ||
TTF Holdings LLC, Term Loan B (1 mo. USD LIBOR + 4.00%)(e) | 5.00% | 03/25/2028 | 541 | 540,505 | ||
Unified Womens Healthcare L.P., Term Loan B (1 mo. USD LIBOR + 4.25%) | 5.00% | 12/17/2027 | 1,449 | 1,446,701 | ||
Verscend Holding Corp., Term Loan B-1 (1 mo. USD LIBOR + 4.00%) | 4.09% | 08/07/2025 | 733 | 732,466 | ||
Waystar, Term Loan B (1 mo. USD LIBOR + 4.00%) | 4.09% | 10/23/2026 | 635 | 634,550 | ||
Women’s Care Holdings, Inc. LLC | ||||||
First Lien Term Loan (1 mo. USD LIBOR + 4.50%) | 5.25% | 01/15/2028 | 547 | 547,391 | ||
Second Lien Term Loan (1 mo. USD LIBOR + 8.25%) | 9.00% | 01/15/2029 | 235 | 235,319 |
Interest Rate | Maturity Date | Principal Amount (000)(a) | Value | |||
Health Care–(continued) | ||||||
WP CityMD Bidco LLC, First Lien Incremental Term Loan (1 mo. USD LIBOR + 3.25%) | 3.75% | 11/18/2028 | $ 1,217 | $ 1,212,948 | ||
25,660,415 | ||||||
Home Furnishings–1.49% | ||||||
Hayward Industries, Inc., First Lien Term Loan (1 mo. USD LIBOR + 2.50%) | 3.00% | 05/30/2028 | 406 | 402,863 | ||
Hilding Anders AB (Sweden), Term Loan B (3 mo. EURIBOR + 5.00%) | 5.00% | 11/29/2024 | EUR | 393 | 378,605 | |
Mattress Holding Corp., Term Loan B (1 mo. USD LIBOR + 4.25%) (Acquired 09/22/2021; Cost $1,454,779)(f) | 5.00% | 09/30/2028 | 1,469 | 1,456,708 | ||
Serta Simmons Bedding LLC | ||||||
First Lien Term Loan (1 mo. USD LIBOR + 7.50%) | 8.50% | 08/10/2023 | 719 | 727,704 | ||
Second Lien Term Loan (1 mo. USD LIBOR + 7.50%) | 8.50% | 08/10/2023 | 1,803 | 1,693,929 | ||
SIWF Holdings, Inc., Term Loan B (1 mo. USD LIBOR + 4.00%) | 4.75% | 09/20/2028 | 1,385 | 1,368,516 | ||
TGP Holdings III LLC | ||||||
Delayed Draw Term Loan(d) | 0.00% | 06/23/2028 | 62 | 61,409 | ||
Term Loan B (1 mo. USD LIBOR + 3.25%) | 4.25% | 06/23/2028 | 468 | 465,723 | ||
VC GB Holdings, Inc., Second Lien Term Loan (1 mo. USD LIBOR + 6.75%) | 7.25% | 07/01/2029 | 319 | 317,783 | ||
6,873,240 | ||||||
Industrial Equipment–3.15% | ||||||
Alliance Laundry Systems LLC, Term Loan B (1 mo. USD LIBOR + 3.50%) | 4.25% | 09/30/2027 | 87 | 86,858 | ||
Alpha AB Bidco B.V. (Netherlands), Term Loan B (3 mo. EURIBOR + 3.50%) | 3.50% | 07/30/2025 | EUR | 359 | 404,270 | |
Brush (United Kingdom) | ||||||
Term Loan (3 mo. EURIBOR + 7.00%)(e) | 7.00% | 06/09/2028 | EUR | 882 | 975,293 | |
Term Loan A (3 mo. EURIBOR + 7.00%)(e) | 7.05% | 06/09/2028 | GBP | 759 | 984,078 | |
CIRCOR International, Inc., Term Loan (1 mo. USD LIBOR + 3.25%) | 4.25% | 12/11/2024 | 200 | 198,446 | ||
Crosby US Acquisition Corp., Term Loan B (3 mo. USD LIBOR + 4.75%) | 4.84% | 06/27/2026 | 410 | 409,678 | ||
Delachaux Group S.A. (France), Term Loan B-2 (3 mo. USD LIBOR + 4.50%) | 4.63% | 04/16/2026 | 336 | 334,774 | ||
DXP Enterprises, Inc., Term Loan (1 mo. USD LIBOR + 4.75%) | 5.75% | 12/16/2027 | 669 | 668,779 | ||
Engineered Machinery Holdings, Inc. | ||||||
Incremental Term Loan (1 mo. USD LIBOR + 3.75%) | 4.50% | 08/05/2028 | 511 | 510,388 | ||
Second Lien Incremental Term Loan (1 mo. USD LIBOR + 6.00%) | 6.75% | 05/21/2029 | 117 | 117,234 | ||
Kantar (United Kingdom) | ||||||
Term Loan B (1 mo. USD LIBOR + 5.00%) | 5.12% | 12/04/2026 | 990 | 989,771 | ||
Term Loan B-3 (3 mo. EURIBOR + 4.25%) | 3.71% | 12/04/2026 | EUR | 699 | 795,916 | |
Madison IAQ LLC, Term Loan (1 mo. USD LIBOR + 3.25%) | 3.75% | 06/21/2028 | 1,847 | 1,834,040 | ||
MX Holdings US, Inc., Term Loan B-1-C (3 mo. USD LIBOR + 2.50%) | 3.25% | 07/31/2025 | 264 | 263,066 | ||
New VAC US LLC, Term Loan B (3 mo. USD LIBOR + 4.00%) | 5.00% | 03/08/2025 | 413 | 404,577 | ||
Robertshaw US Holding Corp., Second Lien Term Loan (3 mo. USD LIBOR + 8.00%) | 9.00% | 02/28/2026 | 388 | 324,288 | ||
S2P Acquisiton Borrower, Inc., First Lien Term Loan (3 mo. USD LIBOR + 4.00%) | 4.09% | 08/14/2026 | 831 | 829,133 | ||
Thyssenkrupp Elevators (Vertical Midco GmbH) (Germany), Term Loan B (1 mo. USD LIBOR + 3.50%) | 4.00% | 07/31/2027 | 3,995 | 3,988,337 | ||
Victory Buyer LLC, Term Loan B (1 mo. USD LIBOR + 3.75%)(e) | 4.25% | 11/15/2028 | 460 | 459,522 | ||
14,578,448 | ||||||
Insurance–1.97% | ||||||
Acrisure LLC | ||||||
Term Loan (1 mo. USD LIBOR + 3.50%) | 3.63% | 01/31/2027 | 1,222 | 1,195,591 | ||
Term Loan B (1 mo. USD LIBOR + 3.75%) | 4.25% | 01/31/2027 | 688 | 683,384 | ||
Term Loan B-2 (1 mo. USD LIBOR + 4.25%) | 4.75% | 01/31/2027 | 773 | 771,154 | ||
Alliant Holdings Intermediate LLC | ||||||
Term Loan (1 mo. USD LIBOR + 3.25%) | 3.34% | 05/09/2025 | 155 | 152,786 | ||
Term Loan (1 mo. USD LIBOR + 3.50%) | 4.00% | 11/06/2027 | 2,411 | 2,402,670 | ||
AmWINS Group LLC, Term Loan(g) | – | 02/17/2028 | 101 | 99,702 |
Interest Rate | Maturity Date | Principal Amount (000)(a) | Value | |||
Insurance–(continued) | ||||||
HUB International Ltd. | ||||||
Incremental Term Loan B-3 (1 mo. USD LIBOR + 3.25%) | 4.00% | 04/25/2025 | $ 1,910 | $ 1,904,825 | ||
Term Loan(g) | – | 04/25/2025 | 126 | 124,075 | ||
Ryan Specialty Group LLC, Term Loan (1 mo. USD LIBOR + 3.00%) | 3.75% | 09/01/2027 | 438 | 437,612 | ||
Sedgwick Claims Management Services, Inc., Term Loan (3 mo. USD LIBOR + 3.25%) | 3.34% | 12/31/2025 | 417 | 409,578 | ||
Sisaho international (France), Term Loan B (3 mo. EURIBOR + 4.00%) | 4.00% | 07/22/2028 | EUR | 329 | 372,822 | |
USI, Inc. | ||||||
Term Loan (3 mo. USD LIBOR + 3.00%) | 3.13% | 05/16/2024 | 124 | 122,761 | ||
Term Loan (1 mo. USD LIBOR + 3.25%) | 3.38% | 12/02/2026 | 445 | 441,309 | ||
9,118,269 | ||||||
Leisure Goods, Activities & Movies–8.99% | ||||||
Alpha Topco Ltd. (United Kingdom), Term Loan B (3 mo. USD LIBOR + 2.50%) | 3.50% | 02/01/2024 | 2,973 | 2,959,054 | ||
AMC Entertainment, Inc., Term Loan B-1 (3 mo. USD LIBOR + 3.00%) | 3.09% | 04/22/2026 | 2,953 | 2,668,069 | ||
Carnival Corp. | ||||||
Incremental Term Loan (1 mo. USD LIBOR + 3.25%) | 4.00% | 10/31/2028 | 4,292 | 4,232,457 | ||
Term Loan (1 mo. USD LIBOR + 3.00%) | 3.75% | 06/30/2025 | 385 | 380,656 | ||
Crown Finance US, Inc. | ||||||
Incremental Term Loan (1 mo. USD LIBOR + 8.25%) | 9.25% | 05/23/2024 | 449 | 478,919 | ||
Incremental Term Loan B-2(g) | – | 05/23/2024 | 373 | 368,774 | ||
Revolver Loan(d) | 0.00% | 03/02/2023 | 1,735 | 1,521,244 | ||
Term Loan (3 mo. USD LIBOR + 8.25%) | 8.25% | 05/23/2024 | 2,092 | 2,500,205 | ||
Term Loan(g) | – | 02/28/2025 | EUR | 122 | 112,989 | |
Term Loan (1 mo. USD LIBOR + 2.50%) | 3.50% | 02/28/2025 | 1,223 | 993,482 | ||
Term Loan (1 mo. USD LIBOR + 2.75%) | 2.91% | 09/20/2026 | 1,938 | 1,554,144 | ||
CWGS Group LLC, Term Loan B (1 mo. USD LIBOR + 2.50%) | 3.25% | 06/23/2028 | 680 | 675,556 | ||
Dorna Sports S.L. (Spain), Term Loan B-2 (3 mo. USD LIBOR + 3.00%) | 3.51% | 04/12/2024 | 1,425 | 1,406,215 | ||
Eagle Midco Ltd. (United Kingdom), Term Loan (3 mo. GBP LIBOR + 4.25%) | 4.30% | 03/10/2028 | GBP | 233 | 308,447 | |
Fender Musical Instruments Corp., Term Loan B(e)(g) | – | 11/17/2028 | 345 | 344,440 | ||
Fitness International LLC, Term Loan B (3 mo. USD LIBOR + 3.25%) | 4.25% | 04/18/2025 | 672 | 626,785 | ||
Global University Systems (Netherlands), Term Loan B (3 mo. EURIBOR + 3.50%) | 3.50% | 01/29/2027 | EUR | 620 | 696,556 | |
Invictus Media S.L.U. (Spain) | ||||||
Second Lien Term Loan (Acquired 05/17/2021-06/28/2021; Cost $1,565,184)(f)(j) | 8.50% | 12/26/2025 | EUR | 1,899 | 1,387,489 | |
Term Loan A-1 (Acquired 05/18/2021-06/28/2021; Cost $410,161)(f)(j) | 5.25% | 06/26/2024 | EUR | 363 | 396,706 | |
Term Loan A-2 (Acquired 05/18/2021-06/28/2021; Cost $257,378)(f)(j) | 5.25% | 06/26/2024 | EUR | 228 | 248,935 | |
Term Loan B-1 (Acquired 05/31/2018-06/28/2021; Cost $1,614,552)(f)(j) | 5.75% | 06/26/2025 | EUR | 1,421 | 1,562,182 | |
Term Loan B-2 (Acquired 05/31/2018-08/31/2021; Cost $1,398,870)(f)(j) | 4.75% | 06/26/2025 | EUR | 1,234 | 1,356,401 | |
Lakeland Tours LLC | ||||||
PIK Second Lien Term Loan, 6.00% PIK Rate, 2.75% Cash Rate(h) | 2.75% | 09/25/2025 | 207 | 201,766 | ||
PIK Term Loan, 13.25% PIK Rate(h) | 13.25% | 09/30/2027 | 285 | 195,038 | ||
Term Loan (1 mo. USD LIBOR + 6.00%) | 6.00% | 09/25/2023 | 116 | 117,370 | ||
Third Lien Term Loan B (1 mo. USD LIBOR + 7.50%) | 6.00% | 09/30/2025 | 259 | 231,497 | ||
Merlin (Motion Finco S.a.r.l. and LLC) (United Kingdom) | ||||||
Term Loan B (3 mo. EURIBOR + 3.00%) | 3.00% | 11/12/2026 | EUR | 1,090 | 1,205,188 | |
Term Loan B-1 (1 mo. USD LIBOR + 3.25%) | 3.38% | 11/04/2026 | 291 | 281,657 | ||
Term Loan B-2 (1 mo. USD LIBOR + 3.25%) | 3.38% | 11/12/2026 | 38 | 37,018 | ||
Parques Reunidos (Spain) | ||||||
Incremental Term Loan B-2 (3 mo. EURIBOR + 7.50%) | 7.50% | 09/16/2026 | EUR | 580 | 661,757 | |
Term Loan B (3 mo. EURIBOR + 3.75%) | 3.75% | 09/16/2026 | EUR | 1,533 | 1,674,236 |
Interest Rate | Maturity Date | Principal Amount (000)(a) | Value | |||
Leisure Goods, Activities & Movies–(continued) | ||||||
Royal Caribbean Cruises | ||||||
Revolver Loan(d) | 0.00% | 10/12/2022 | $ 1,204 | $ 1,166,734 | ||
Revolver Loan(d) | 0.00% | 04/05/2024 | 2,275 | 2,109,633 | ||
Revolver Loan(d) | 0.00% | 04/12/2024 | 594 | 559,347 | ||
Term Loan(g) | – | 04/05/2022 | 604 | 591,415 | ||
Sabre GLBL, Inc. | ||||||
Term Loan B (3 mo. USD LIBOR + 2.00%) | 2.09% | 02/22/2024 | 15 | 14,739 | ||
Term Loan B-1 (1 mo. USD LIBOR + 3.50%) | 4.00% | 12/17/2027 | 208 | 205,253 | ||
Term Loan B-2 (1 mo. USD LIBOR + 3.50%) | 4.00% | 12/17/2027 | 131 | 128,761 | ||
SeaWorld Parks & Entertainment, Inc., Term Loan B (1 mo. USD LIBOR + 3.00%) | 3.50% | 08/13/2028 | 1,639 | 1,632,904 | ||
Shutterfly, Inc., Term Loan B (1 mo. USD LIBOR + 5.00%) | 5.75% | 09/25/2026 | 91 | 88,439 | ||
Six Flags Theme Parks, Inc., Term Loan B (3 mo. USD LIBOR + 1.75%) | 1.85% | 04/17/2026 | 229 | 223,840 | ||
USF S&H Holdco LLC | ||||||
Delayed Draw Term Loan(d)(e) | 0.00% | 06/30/2025 | 162 | 162,334 | ||
Term Loan A (3 mo. USD LIBOR + 15.00%)(e) | 15.00% | 06/30/2025 | 108 | 108,080 | ||
Term Loan B (3 mo. USD LIBOR + 3.00%)(e) | 4.00% | 06/30/2025 | 1,795 | 1,795,061 | ||
Vue International Bidco PLC (United Kingdom), Term Loan B-1 (3 mo. EURIBOR + 4.75%) | 4.75% | 07/03/2026 | EUR | 1,322 | 1,395,333 | |
41,567,105 | ||||||
Lodging & Casinos–4.19% | ||||||
Aimbridge Acquisition Co., Inc. | ||||||
First Lien Term Loan (1 mo. USD LIBOR + 4.75%) (Acquired 09/22/2020-06/02/2021; Cost $1,021,683)(e)(f) | 5.50% | 02/02/2026 | 1,037 | 1,029,557 | ||
Term Loan (1 mo. USD LIBOR + 3.75%) (Acquired 11/24/2020-10/13/2021; Cost $826,661)(f) | 3.84% | 02/01/2026 | 858 | 838,388 | ||
Aristocrat Technologies, Inc., Term Loan (1 mo. USD LIBOR + 3.75%) | 4.75% | 10/19/2024 | 880 | 879,966 | ||
B&B Hotels S.A.S. (France) | ||||||
Incremental Term Loan (6 mo. EURIBOR + 5.50%) | 5.50% | 06/30/2026 | EUR | 401 | 451,455 | |
Second Lien Term Loan A-1 (3 mo. EURIBOR + 8.50%) | 8.50% | 07/31/2027 | EUR | 387 | 419,970 | |
Term Loan B-3-A (3 mo. EURIBOR + 3.88%) | 3.88% | 07/31/2026 | EUR | 1,884 | 2,041,355 | |
Bally’s Corp., Term Loan B (1 mo. USD LIBOR + 3.25%) | 3.75% | 07/31/2028 | 2,194 | 2,185,672 | ||
Caesars Resort Collection LLC | ||||||
Incremental Term Loan (1 mo. USD LIBOR + 3.50%) | 3.59% | 06/30/2025 | 2,060 | 2,060,163 | ||
Term Loan B (3 mo. USD LIBOR + 2.75%) | 2.84% | 12/23/2024 | 742 | 735,785 | ||
Everi Payments, Inc., Term Loan (1 mo. USD LIBOR + 2.50%) | 3.00% | 07/31/2028 | 172 | 171,493 | ||
Great Canadian Gaming Corp. (Canada), Term Loan B (1 mo. USD LIBOR + 4.00%) | 4.75% | 11/01/2026 | 493 | 493,237 | ||
GVC Finance LLC, Term Loan B-4 (1 mo. USD LIBOR + 2.50%) | 3.00% | 03/16/2027 | 1,026 | 1,023,915 | ||
Hilton Grand Vacations Borrower LLC, Term Loan B (1 mo. USD LIBOR + 3.00%) | 3.50% | 05/19/2028 | 1,173 | 1,164,709 | ||
HotelBeds (United Kingdom) | ||||||
Term Loan B (3 mo. EURIBOR + 4.25%) | 4.25% | 09/12/2025 | EUR | 1,882 | 1,906,572 | |
Term Loan D (3 mo. EURIBOR + 5.50%) | 5.50% | 09/12/2027 | EUR | 3,398 | 3,479,210 | |
PCI Gaming Authority, Term Loan B (3 mo. USD LIBOR + 2.50%) | 2.59% | 05/29/2026 | 67 | 66,151 | ||
Scientific Games International, Inc., Term Loan B-5 (1 mo. USD LIBOR + 2.75%) | 2.84% | 08/14/2024 | 157 | 156,158 | ||
Station Casinos LLC, Term Loan B-1 (1 mo. USD LIBOR + 2.25%) | 2.50% | 02/08/2027 | 291 | 286,718 | ||
19,390,474 | ||||||
Nonferrous Metals & Minerals–1.08% | ||||||
American Rock Salt Co. LLC | ||||||
Second Lien Term Loan (1 mo. USD LIBOR + 7.25%)(e) | 8.00% | 05/25/2029 | 57 | 57,673 | ||
Term Loan B (1 mo. USD LIBOR + 4.00%) | 4.75% | 05/25/2028 | 580 | 578,913 | ||
Corialis Group Ltd. (United Kingdom), Term Loan B | 4.55% | 05/24/2028 | GBP | 109 | 145,537 | |
Covia Holdings Corp., Term Loan (1 mo. USD LIBOR + 4.00%) | 5.00% | 07/31/2026 | 642 | 641,339 |
Interest Rate | Maturity Date | Principal Amount (000)(a) | Value | |||
Nonferrous Metals & Minerals–(continued) | ||||||
Form Technologies LLC | ||||||
Term Loan (1 mo. USD LIBOR + 4.75%) | 5.75% | 07/19/2025 | $ 1,043 | $ 1,040,884 | ||
Term Loan (1 mo. USD LIBOR + 9.25%)(e) | 10.25% | 10/22/2025 | 587 | 595,864 | ||
Kissner Group, Incremental Term Loan (1 mo. USD LIBOR + 4.00%) | 4.75% | 03/01/2027 | 1,959 | 1,938,418 | ||
4,998,628 | ||||||
Oil & Gas–3.02% | ||||||
Brazos Delaware II LLC, Term Loan (3 mo. USD LIBOR + 4.00%) | 4.09% | 05/21/2025 | 1,932 | 1,889,872 | ||
Glass Mountain Pipeline Holdings LLC, Term Loan | 5.50% | 10/28/2027 | 746 | 258,328 | ||
Gulf Finance LLC, Term Loan B (3 mo. USD LIBOR + 6.75%) | 6.25% | 08/25/2026 | 478 | 458,092 | ||
HGIM Corp., Term Loan (3 mo. USD LIBOR + 6.00%)(e) | 7.00% | 07/02/2023 | 1,170 | 936,366 | ||
McDermott International Ltd. | ||||||
LOC(d) | 0.00% | 06/30/2024 | 2,136 | 1,703,548 | ||
LOC(e) | 4.09% | 06/30/2024 | 999 | 823,778 | ||
PIK Term Loan, 3.00% PIK Rate, 1.00% Cash Rate(h) | 3.00% | 06/30/2025 | 503 | 225,229 | ||
Term Loan (1 mo. USD LIBOR + 3.00%)(e) | 3.09% | 06/30/2024 | 92 | 50,392 | ||
Petroleum GEO-Services ASA, Term Loan (1 mo. USD LIBOR + 7.50%) | 7.64% | 03/19/2024 | 4,093 | 3,709,068 | ||
QuarterNorth Energy Holding, Inc., Second Lien Term Loan (1 mo. USD LIBOR + 8.00%) (Acquired 08/03/2021; Cost $2,587,527)(f) | 9.00% | 08/27/2026 | 2,638 | 2,654,019 | ||
Southcross Energy Partners L.P., Revolver Loan(d)(e) | 0.00% | 01/31/2025 | 79 | 77,671 | ||
TransMontaigne Partners LLC, Term Loan (1 mo. USD LIBOR + 3.50%) | 4.00% | 10/30/2028 | 1,183 | 1,177,637 | ||
13,964,000 | ||||||
Publishing–2.15% | ||||||
Adtalem Global Education, Inc., Term Loan B (1 mo. USD LIBOR + 4.50%) | 5.25% | 02/12/2028 | 1,070 | 1,070,393 | ||
Cengage Learning, Inc., Term Loan B (1 mo. USD LIBOR + 4.75%) | 5.75% | 06/29/2026 | 2,865 | 2,859,336 | ||
Clear Channel Worldwide Holdings, Inc., Term Loan B (1 mo. USD LIBOR + 3.50%) | 3.63% | 08/21/2026 | 3,397 | 3,329,612 | ||
McGraw-Hill Education, Inc., Term Loan B (1 mo. USD LIBOR + 4.50%) | 5.25% | 07/30/2028 | 2,695 | 2,667,355 | ||
9,926,696 | ||||||
Radio & Television–1.26% | ||||||
Diamond Sports Holdings LLC, Term Loan B (1 mo. USD LIBOR + 3.25%) (Acquired 06/23/2021-10/13/2021; Cost $721,286)(f) | 3.35% | 08/24/2026 | 1,247 | 531,902 | ||
E.W. Scripps Co. (The), Term Loan B (1 mo. USD LIBOR + 3.00%) | 3.75% | 12/15/2027 | 1,088 | 1,088,231 | ||
Gray Television, Inc. | ||||||
Term Loan C (3 mo. USD LIBOR + 2.50%) | 2.59% | 01/02/2026 | 11 | 10,706 | ||
Term Loan D (1 mo. USD LIBOR + 3.00%) | 3.09% | 10/27/2028 | 1,444 | 1,436,946 | ||
iHeartCommunications, Inc., Incremental Term Loan (1 mo. USD LIBOR + 3.25%) | 3.75% | 05/01/2026 | 355 | 353,221 | ||
Nexstar Broadcasting, Inc. | ||||||
Term Loan B (1 mo. USD LIBOR + 2.50%) | 2.59% | 06/02/2028 | 192 | 191,350 | ||
Term Loan B-4 (1 mo. USD LIBOR + 2.50%) | 2.59% | 09/18/2026 | 545 | 542,520 | ||
Sinclair Television Group, Inc. | ||||||
Term Loan B-2-B (1 mo. USD LIBOR + 2.50%) | 2.60% | 09/30/2026 | 742 | 725,329 | ||
Term Loan B-3 (1 mo. USD LIBOR + 3.00%) | 3.10% | 03/25/2028 | 701 | 688,374 | ||
Univision Communications, Inc., Term Loan B (1 mo. USD LIBOR + 3.25%) | 4.00% | 05/05/2028 | 269 | 268,495 | ||
5,837,074 | ||||||
Retailers (except Food & Drug)–2.61% | ||||||
Bass Pro Group LLC, Term Loan B-2 (1 mo. USD LIBOR + 4.25%) | 5.00% | 03/06/2028 | 302 | 302,694 | ||
Claire’s Stores, Inc., Term Loan (1 mo. USD LIBOR + 6.50%) | 6.59% | 12/18/2026 | 340 | 338,391 | ||
CNT Holdings I Corp. (1-800 Contacts) | ||||||
First Lien Term Loan (1 mo. USD LIBOR + 3.75%) | 4.50% | 10/16/2027 | 1,650 | 1,649,643 | ||
Second Lien Term Loan (1 mo. USD LIBOR + 6.75%) | 7.50% | 10/16/2028 | 402 | 405,584 |
Interest Rate | Maturity Date | Principal Amount (000)(a) | Value | |||
Retailers (except Food & Drug)–(continued) | ||||||
Kirk Beauty One GmbH (Germany) | ||||||
Term Loan B-1 (3 mo. EURIBOR + 5.50%) | 5.50% | 04/08/2026 | EUR | 298 | $ 331,481 | |
Term Loan B-2 (6 mo. EURIBOR + 5.50%) | 5.50% | 04/08/2026 | EUR | 171 | 190,812 | |
Term Loan B-3 (6 mo. EURIBOR + 5.50%) | 5.50% | 04/08/2026 | EUR | 250 | 278,388 | |
Term Loan B-4 (6 mo. EURIBOR + 5.50%) | 5.50% | 04/08/2026 | EUR | 526 | 585,635 | |
Term Loan B-5 (6 mo. EURIBOR + 5.50%) | 5.50% | 04/08/2026 | EUR | 117 | 130,253 | |
Petco Animal Supplies, Inc., First Lien Term loan (1 mo. USD LIBOR + 3.25%) | 4.00% | 02/25/2028 | $ 1,373 | 1,367,134 | ||
PetSmart, Inc., Term Loan (1 mo. USD LIBOR + 3.75%) | 4.50% | 02/11/2028 | 4,500 | 4,486,682 | ||
Rent-A-Center, Inc., Term Loan (1 mo. USD LIBOR + 3.25%) | 3.75% | 02/17/2028 | 941 | 934,074 | ||
Savers, Inc., Term Loan B (1 mo. USD LIBOR + 5.75%) | 6.50% | 04/21/2028 | 1,062 | 1,056,049 | ||
12,056,820 | ||||||
Surface Transport–2.88% | ||||||
American Trailer World Corp., First Lien Term Loan (1 mo. USD LIBOR + 3.75%) | 4.50% | 03/03/2028 | 1,870 | 1,854,316 | ||
ASP LS Acquisition Corp., Incremental Term Loan B (1 mo. USD LIBOR + 4.50%) | 5.25% | 05/15/2028 | 323 | 323,473 | ||
Carriage Purchaser, Inc., Term Loan B (1 mo. USD LIBOR + 4.25%) | 5.00% | 09/30/2028 | 572 | 573,207 | ||
Daseke Cos., Inc., Term Loan B (1 mo. USD LIBOR + 4.00%) | 4.75% | 03/09/2028 | 271 | 271,495 | ||
First Student Bidco, Inc. | ||||||
Term Loan B (1 mo. USD LIBOR + 3.00%) | 3.50% | 07/13/2028 | 1,895 | 1,879,694 | ||
Term Loan C (1 mo. USD LIBOR + 3.00%) | 3.50% | 07/21/2028 | 700 | 693,847 | ||
Hertz Corp. (The) | ||||||
Term Loan B (1 mo. USD LIBOR + 3.25%) | 3.75% | 06/30/2028 | 1,241 | 1,240,297 | ||
Term Loan C (1 mo. USD LIBOR + 3.25%) | 3.75% | 06/14/2028 | 234 | 234,334 | ||
Hurtigruten (Norway), Term Loan B (3 mo. EURIBOR + 3.50%) | 4.00% | 02/24/2025 | EUR | 1,769 | 1,883,087 | |
Hurtigruten (Explorer II AS) (Norway), Term Loan C (3 mo. EURIBOR + 8.00%) | 8.00% | 06/16/2023 | EUR | 1,000 | 1,136,550 | |
Odyssey Logistics & Technology Corp., First Lien Term Loan (3 mo. USD LIBOR + 4.00%) | 5.00% | 10/12/2024 | 660 | 653,872 | ||
PODS LLC, Term Loan B (1 mo. USD LIBOR + 3.00%) | 3.75% | 04/01/2028 | 2,558 | 2,545,963 | ||
13,290,135 | ||||||
Telecommunications–6.55% | ||||||
Avaya, Inc. | ||||||
First Lien Term Loan (1 mo. USD LIBOR + 4.25%) | 4.34% | 12/15/2027 | 221 | 220,961 | ||
Term Loan B-2 (1 mo. USD LIBOR + 4.25%) | 4.09% | 12/15/2027 | 264 | 264,004 | ||
Cablevision Lightpath LLC, Term Loan (1 mo. USD LIBOR + 3.25%) | 3.75% | 11/30/2027 | 366 | 365,215 | ||
CCI Buyer, Inc., Term Loan (1 mo. USD LIBOR + 3.75%) | 4.50% | 12/13/2027 | 1,549 | 1,547,323 | ||
Cincinnati Bell, Inc., Term Loan B-2 | 3.75% | 11/17/2028 | 19 | 18,441 | ||
Colorado Buyer, Inc. | ||||||
First Lien Incremental Term Loan (6 mo. USD LIBOR + 4.00%) | 5.00% | 05/01/2024 | 1,405 | 1,402,291 | ||
Term Loan (3 mo. USD LIBOR + 3.00%) | 4.00% | 05/01/2024 | 7 | 6,894 | ||
Crown Subsea Communications Holding, Inc., Term Loan B (1 mo. USD LIBOR + 5.00%) | 5.75% | 04/20/2027 | 793 | 798,553 | ||
Eagle Broadband Investments LLC (Mega Broadband), Term Loan (1 mo. USD LIBOR + 3.00%) | 3.75% | 11/12/2027 | 8 | 7,638 | ||
Frontier Communications Corp., Term Loan B (1 mo. USD LIBOR + 3.75%) | 4.50% | 05/01/2028 | 1,722 | 1,722,148 | ||
Inmarsat Finance PLC (United Kingdom), Term Loan (1 mo. USD LIBOR + 3.50%) | 4.50% | 12/12/2026 | 1,648 | 1,646,373 | ||
Intelsat Jackson Holdings S.A. (Luxembourg) | ||||||
DIP Term Loan (1 mo. USD LIBOR + 3.60%)(i) | 5.75% | 10/13/2022 | 946 | 950,082 | ||
DIP Term Loan(d)(i) | 0.00% | 10/13/2022 | 189 | 190,016 | ||
Term Loan B-3 (1 mo. USD LIBOR + 5.75%)(i) | 5.75% | 11/27/2023 | 5,787 | 5,814,831 | ||
Term Loan B-4 (3 mo. USD LIBOR + 6.50%)(i) | 8.75% | 01/02/2024 | 645 | 647,848 | ||
Term Loan B-5 (1 mo. USD LIBOR + 8.63%)(i) | 8.63% | 01/02/2024 | 1,409 | 1,417,318 | ||
Iridium Satellite LLC, Term Loan B (1 mo. USD LIBOR + 2.50%) | 3.25% | 11/04/2026 | 109 | 108,854 | ||
Level 3 Financing, Inc., Term Loan B (1 mo. USD LIBOR + 1.75%) | 1.84% | 03/01/2027 | 125 | 122,409 |
Interest Rate | Maturity Date | Principal Amount (000)(a) | Value | |||
Telecommunications–(continued) | ||||||
MLN US HoldCo LLC | ||||||
First Lien Term Loan B (3 mo. USD LIBOR + 4.50%) | 4.59% | 11/30/2025 | $ 1,912 | $ 1,839,130 | ||
Second Lien Term Loan B (3 mo. USD LIBOR + 8.75%) | 8.84% | 11/30/2026 | 1,117 | 1,014,629 | ||
Radiate Holdco LLC, Term Loan B(g) | – | 09/25/2026 | 3,500 | 3,474,891 | ||
SBA Senior Finance II LLC, Term Loan (3 mo. USD LIBOR + 1.75%) | 1.85% | 04/11/2025 | 11 | 11,341 | ||
Telesat LLC, Term Loan B-5 (1 mo. USD LIBOR + 2.75%) | 2.90% | 12/07/2026 | 2,624 | 2,405,534 | ||
U.S. TelePacific Corp., Term Loan (3 mo. USD LIBOR + 5.50%) | 6.50% | 05/02/2023 | 2,726 | 2,064,327 | ||
Windstream Services LLC, Term Loan B (1 mo. USD LIBOR + 6.25%) | 7.25% | 09/21/2027 | 2,194 | 2,204,537 | ||
30,265,588 | ||||||
Utilities–3.92% | ||||||
APLP Holdings Ltd. Partnership (Canada), Term Loan B (1 mo. USD LIBOR + 3.75%) | 4.75% | 04/01/2027 | 655 | 661,616 | ||
Calpine Corp., Term Loan (1 mo. USD LIBOR + 2.50%) | 2.59% | 12/16/2027 | 1,947 | 1,932,501 | ||
Centuri Group, Inc., Term Loan B (1 mo. USD LIBOR + 2.50%) | 3.00% | 08/18/2028 | 172 | 171,133 | ||
Covanta Energy Corp., Term Loan C (1 mo. USD LIBOR + 2.50%) | 3.00% | 11/17/2028 | 793 | 792,043 | ||
Eastern Power LLC, Term Loan (1 mo. USD LIBOR + 3.75%) | 4.75% | 10/02/2025 | 2,097 | 1,779,376 | ||
ExGen Renewables IV LLC, Term Loan (3 mo. USD LIBOR + 2.50%) | 3.50% | 12/15/2027 | 108 | 107,957 | ||
Generation Bridge LLC | ||||||
Term Loan B (1 mo. USD LIBOR + 5.00%)(e) | 5.75% | 09/01/2028 | 790 | 793,918 | ||
Term Loan C (1 mo. USD LIBOR + 5.00%)(e) | 5.75% | 09/01/2028 | 16 | 16,540 | ||
Granite Acquisition, Inc., Term Loan B (1 mo. USD LIBOR + 2.75%) | 3.25% | 03/17/2028 | 490 | 488,704 | ||
Granite Generation LLC, Term Loan (1 mo. USD LIBOR + 3.75%) | 4.75% | 10/31/2026 | 2,311 | 2,269,148 | ||
Heritage Power LLC, Term Loan (1 mo. USD LIBOR + 6.00%) | 7.00% | 07/30/2026 | 1,546 | 1,298,503 | ||
KAMC Holdings, Inc., First Lien Term Loan B (3 mo. USD LIBOR + 4.00%) | 4.18% | 08/14/2026 | 598 | 517,690 | ||
Lightstone Holdco LLC | ||||||
Term Loan B (3 mo. USD LIBOR + 3.75%) | 4.75% | 01/30/2024 | 2,643 | 2,307,241 | ||
Term Loan C (3 mo. USD LIBOR + 3.75%) | 4.75% | 01/30/2024 | 149 | 130,132 | ||
Nautilus Power LLC, Term Loan (3 mo. USD LIBOR + 4.25%) | 5.25% | 05/16/2024 | 1,247 | 1,070,786 | ||
Osmose Utilities Services, Inc., First Lien Term Loan (1 mo. USD LIBOR + 3.25%) | 3.75% | 06/17/2028 | 1,052 | 1,044,262 | ||
Pike Corp., Incremental Term Loan B (1 mo. USD LIBOR + 3.00%) | 3.10% | 01/15/2028 | 423 | 420,813 | ||
Project Boost Purchaser, LLC, Term Loan (1 mo. USD LIBOR + 3.50%) | 4.00% | 06/01/2026 | 333 | 331,990 | ||
Revere Power LLC | ||||||
Term Loan B (3 mo. USD LIBOR + 4.25%) | 4.34% | 03/27/2026 | 731 | 683,215 | ||
Term Loan C (3 mo. USD LIBOR + 4.25%) | 4.34% | 03/27/2026 | 80 | 74,388 | ||
Urbaser (Spain), Term Loan B (3 mo. EURIBOR + 4.75%) | 4.75% | 09/28/2028 | EUR | 643 | 728,965 | |
USIC Holding, Inc. | ||||||
Second Lien Term Loan (1 mo. USD LIBOR + 6.50%) | 7.25% | 05/07/2029 | 172 | 173,981 | ||
Term Loan B (1 mo. USD LIBOR + 3.50%) | 4.25% | 05/31/2028 | 333 | 332,416 | ||
18,127,318 | ||||||
Total Variable Rate Senior Loan Interests (Cost $502,316,660) | 495,470,592 | |||||
Shares | ||||||
Common Stocks & Other Equity Interests–7.75%(k) | ||||||
Aerospace & Defense–1.47% | ||||||
IAP Worldwide Services, Inc. (Acquired 07/18/2014-02/08/2019; Cost $587,458)(e)(f) | 342 | 6,799,258 | ||||
Automotive–0.00% | ||||||
ThermaSys Corp.(e) | 676,996 | 20,310 | ||||
Building & Development–0.00% | ||||||
Lake at Las Vegas Joint Venture LLC, Class A(e) | 780 | 0 | ||||
Lake at Las Vegas Joint Venture LLC, Class B(e) | 9 | 0 | ||||
0 |
Shares | Value | ||||
Business Equipment & Services–0.49% | |||||
Checkout Holding Corp. (Acquired 02/15/2019; Cost $2,251,966)(f) | 6,741 | $ 20,729 | |||
My Alarm Center LLC, Class A (Acquired 03/09/2021-03/19/2021; Cost $2,166,410)(e)(f) | 16,406 | 2,272,173 | |||
2,292,902 | |||||
Containers & Glass Products–0.01% | |||||
Libbey Glass, Inc. (Acquired 11/13/2020-10/20/2021; Cost $31,578)(e)(f) | 7,835 | 61,211 | |||
Drugs–0.10% | |||||
Envigo RMS Holding Corp., Class B(e) | 18,639 | 450,318 | |||
Financial Intermediaries–0.00% | |||||
RJO Holdings Corp.(e) | 2,851 | 2,851 | |||
RJO Holdings Corp., Class A(e) | 2,314 | 2,314 | |||
RJO Holdings Corp., Class B(e) | 3,000 | 30 | |||
5,195 | |||||
Leisure Goods, Activities & Movies–0.37% | |||||
Crown Finance US, Inc. | 171,770 | 84,296 | |||
USF S&H Holdco LLC(e) | 1,786 | 1,616,414 | |||
1,700,710 | |||||
Lodging & Casinos–0.77% | |||||
Bally’s Corp.(l) | 72,757 | 2,789,503 | |||
Caesars Entertainment, Inc.(l) | 8,413 | 757,759 | |||
3,547,262 | |||||
Oil & Gas–2.73% | |||||
Aquadrill LLC(e) | 49,326 | 1,775,736 | |||
HGIM Corp. | 8,544 | 34,176 | |||
HGIM Corp., Wts., expiring 07/02/2043 | 5,420 | 21,680 | |||
McDermott International Ltd.(l) | 210,471 | 117,864 | |||
McDermott International Ltd.(e) | 657,235 | 349,649 | |||
NexTier Oilfield Solutions, Inc.(l) | 44,006 | 158,422 | |||
Noble Corp.(l) | 929 | 21,701 | |||
Paragon Offshore Finance Co., Class B(e) | 1,323 | 10,335 | |||
PGS ASA(l) | 108,465 | 39,526 | |||
QuarterNorth Energy, Inc. (Acquired 06/02/2021-08/27/2021; Cost $3,240,271)(f) | 50,065 | 5,256,825 | |||
QuarterNorth Energy, Inc., Wts. (Acquired 08/27/2021; Cost $1,839,769)(f) | 27,961 | 2,935,905 | |||
QuarterNorth Energy, Inc., Wts. (Acquired 08/27/2021; Cost $171,654)(f) | 28,609 | 171,654 | |||
QuarterNorth Energy, Inc., Wts., expiring 08/27/2028 (Acquired 08/27/2021; Cost $133,695)(f) | 14,855 | 150,407 | |||
Samson Investment Co., Class A(e) | 84,254 | 505,524 | |||
Southcross Energy Partners L.P.(e) | 73,367 | 4,769 | |||
Transocean Ltd.(l) | 191,873 | 579,456 | |||
Tribune Resources, Inc.(e) | 382,888 | 478,610 | |||
Tribune Resources, Inc., Wts., expiring 04/03/2023(e) | 99,132 | 2,478 | |||
12,614,717 | |||||
Publishing–0.14% | |||||
Clear Channel Outdoor Holdings, Inc.(l) | 206,734 | 634,673 | |||
MC Communications LLC(e) | 739,817 | 0 | |||
634,673 | |||||
Radio & Television–0.43% | |||||
iHeartMedia, Inc., Class A(l) | 101,257 | 1,985,650 |
Shares | Value | ||||
Radio & Television–(continued) | |||||
iHeartMedia, Inc., Class B(e) | 17 | $ 319 | |||
1,985,969 | |||||
Retailers (except Food & Drug)–0.07% | |||||
Claire’s Stores, Inc. | 446 | 146,065 | |||
Toys ’R’ Us-Delaware, Inc.(e) | 17 | 41,827 | |||
Vivarte S.A.S.(e) | 233,415 | 147,050 | |||
334,942 | |||||
Surface Transport–0.08% | |||||
Commercial Barge Line Co. (Acquired 02/15/2018-02/06/2020; Cost $420,320)(f) | 4,992 | 138,528 | |||
Commercial Barge Line Co., Series A, Wts., expiring 08/18/2030 (Acquired 02/15/2018-11/12/2021; Cost $0)(f) | 117,156 | 37,221 | |||
Commercial Barge Line Co., Series B, Wts., expiring 04/30/2045 (Acquired 02/05/2020-07/30/2021; Cost $0)(f) | 92,658 | 39,251 | |||
Commercial Barge Line Co., Wts., expiring 04/27/2045 (Acquired 02/15/2018-02/06/2020; Cost $441,875)(f) | 5,248 | 145,632 | |||
360,632 | |||||
Utilities–1.09% | |||||
Vistra Corp. | 227,983 | 4,532,303 | |||
Vistra Operations Co. LLC, Rts., expiring 12/31/2046 | 366,133 | 502,518 | |||
5,034,821 | |||||
Total Common Stocks & Other Equity Interests (Cost $46,039,077) | 35,842,920 | ||||
Interest Rate | Maturity Date | Principal Amount (000)(a) | |||
U.S. Dollar Denominated Bonds & Notes–5.39% | |||||
Air Transport–0.25% | |||||
Mesa Airlines, Inc., Class B(e) | 5.75% | 07/15/2025 | $ 1,022 | 1,144,134 | |
Building & Development–0.59% | |||||
Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LLC (m) | 4.50% | 04/01/2027 | 832 | 791,831 | |
Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LLC(m) | 5.75% | 05/15/2026 | 1,873 | 1,929,471 | |
2,721,302 | |||||
Business Equipment & Services–0.50% | |||||
ADT Security Corp. (The) (m) | 4.13% | 08/01/2029 | 1,632 | 1,590,914 | |
Karman Buyer Corp.(m) | 6.50% | 11/15/2028 | 695 | 712,198 | |
2,303,112 | |||||
Cable & Satellite Television–0.49% | |||||
Altice Financing S.A. (Luxembourg) (m) | 5.00% | 01/15/2028 | 671 | 628,955 | |
Altice France S.A. (France)(m) | 5.50% | 01/15/2028 | 328 | 325,278 | |
Altice France S.A. (France)(m) | 5.50% | 10/15/2029 | 305 | 294,920 | |
CSC Holdings LLC(m) | 5.75% | 01/15/2030 | 180 | 176,560 | |
Virgin Media Secured Finance PLC (United Kingdom)(m) | 4.50% | 08/15/2030 | 849 | 831,489 | |
2,257,202 | |||||
Chemicals & Plastics–0.28% | |||||
EverArc Escrow S.a.r.l. (m) | 5.00% | 10/30/2029 | 1,067 | 1,041,590 | |
Herens Holdco S.a.r.l. (Luxembourg)(m) | 4.75% | 05/15/2028 | 268 | 261,017 | |
1,302,607 | |||||
Containers & Glass Products–0.03% | |||||
LABL, Inc.(m) | 5.88% | 11/01/2028 | 131 | 129,690 |
Interest Rate | Maturity Date | Principal Amount (000)(a) | Value | |||
Electronics & Electrical–0.42% | ||||||
CommScope, Inc. (m) | 4.75% | 09/01/2029 | $ 325 | $ 314,972 | ||
Diebold Nixdorf, Inc.(m) | 9.38% | 07/15/2025 | 1,078 | 1,146,457 | ||
Energizer Holdings, Inc.(m) | 4.38% | 03/31/2029 | 528 | 501,642 | ||
1,963,071 | ||||||
Food Service–0.09% | ||||||
eG Global Finance PLC (United Kingdom)(m) | 6.75% | 02/07/2025 | 412 | 415,937 | ||
Health Care–0.06% | ||||||
Global Medical Response, Inc.(m) | 6.50% | 10/01/2025 | 298 | 298,642 | ||
Industrial Equipment–0.72% | ||||||
F-Brasile S.p.A./F-Brasile US LLC, Series XR (Italy) (m) | 7.38% | 08/15/2026 | 2,987 | 2,933,861 | ||
Thyssenkrupp Elevators (Vertical Midco GmbH) (Germany)(m) | 7.63% | 07/15/2028 | 361 | 377,576 | ||
3,311,437 | ||||||
Insurance–0.08% | ||||||
Acrisure LLC/Acrisure Finance, Inc.(m) | 4.25% | 02/15/2029 | 381 | 355,736 | ||
Leisure Goods, Activities & Movies–0.43% | ||||||
AMC Entertainment Holdings, Inc.(m) | 10.50% | 04/15/2025 | 1,902 | 2,001,855 | ||
Nonferrous Metals & Minerals–0.14% | ||||||
SCIH Salt Holdings, Inc.(m) | 4.88% | 05/01/2028 | 687 | 651,509 | ||
Publishing–0.42% | ||||||
McGraw-Hill Education, Inc.(m) | 5.75% | 08/01/2028 | 1,990 | 1,923,882 | ||
Radio & Television–0.13% | ||||||
Diamond Sports Group LLC/Diamond Sports Finance Co. (Acquired 07/18/2019-10/16/2020; Cost $812,121)(f)(m) | 5.38% | 08/15/2026 | 899 | 399,997 | ||
iHeartCommunications, Inc.(m) | 4.75% | 01/15/2028 | 194 | 192,927 | ||
592,924 | ||||||
Surface Transport–0.24% | ||||||
First Student Bidco, Inc./First Transit Parent, Inc.(m) | 4.00% | 07/31/2029 | 1,150 | 1,094,737 | ||
Telecommunications–0.41% | ||||||
Avaya, Inc. (m) | 6.13% | 09/15/2028 | 842 | 873,019 | ||
Windstream Escrow LLC/Windstream Escrow Finance Corp.(m) | 7.75% | 08/15/2028 | 1,007 | 1,050,805 | ||
1,923,824 | ||||||
Utilities–0.11% | ||||||
Calpine Corp.(m) | 4.50% | 02/15/2028 | 516 | 513,910 | ||
Total U.S. Dollar Denominated Bonds & Notes (Cost $23,642,074) | 24,905,511 | |||||
Non-U.S. Dollar Denominated Bonds & Notes–2.86%(n) | ||||||
Automotive–0.05% | ||||||
Leather 2 S.p.A. (Italy) (3 mo. EURIBOR + 4.50%)(m)(o) | 3.96% | 09/30/2028 | EUR | 206 | 232,764 | |
Building & Development–0.13% | ||||||
APCOA Parking Holdings GmbH (Germany) (3 mo. EURIBOR + 5.00%)(m)(o) | 5.00% | 01/15/2027 | EUR | 272 | 307,717 | |
Haya Real Estate S.A. (Spain) (3 mo. EURIBOR + 5.13%)(m)(o) | 5.13% | 11/15/2022 | EUR | 100 | 95,094 | |
Haya Real Estate S.A. (Spain)(m) | 5.25% | 11/15/2022 | EUR | 198 | 187,613 | |
590,424 |
Interest Rate | Maturity Date | Principal Amount (000)(a) | Value | ||
Business Equipment & Services–0.25% | |||||
Bach Bidco S.p.A. (Italy) (3 mo. EURIBOR + 4.25%)(m)(o) | 3.70% | 10/15/2028 | EUR | 305 | $ 349,458 |
Paganini Bidco S.p.A. (Italy) (3 mo. EURIBOR + 4.25%)(m)(o) | 4.25% | 10/30/2028 | EUR | 694 | 788,088 |
1,137,546 | |||||
Cable & Satellite Television–0.23% | |||||
Altice Financing S.A. (Luxembourg)(m) | 3.00% | 01/15/2028 | EUR | 260 | 275,454 |
Altice Finco S.A. (Luxembourg)(m) | 4.75% | 01/15/2028 | EUR | 756 | 795,815 |
1,071,269 | |||||
Chemicals & Plastics–0.12% | |||||
Herens Midco S.a.r.l. (Luxembourg)(m) | 5.25% | 05/15/2029 | EUR | 506 | 536,196 |
Financial Intermediaries–1.05% | |||||
AnaCap Financial Europe S.A. SICAV-RAIF (Italy) (3 mo. EURIBOR + 5.00%)(m)(o) | 5.00% | 08/01/2024 | EUR | 1,101 | 1,222,258 |
Garfunkelux Holdco 3 S.A. (Luxembourg) (3 mo. EURIBOR + 6.25%)(m)(o) | 6.25% | 05/01/2026 | EUR | 632 | 722,933 |
Garfunkelux Holdco 3 S.A. (Luxembourg)(m) | 6.75% | 11/01/2025 | EUR | 909 | 1,065,883 |
Newday Bondco PLC (United Kingdom)(m) | 7.38% | 02/01/2024 | GBP | 261 | 350,588 |
Sherwood Financing PLC (United Kingdom)(m) | 4.50% | 11/15/2026 | EUR | 200 | 225,217 |
Sherwood Financing PLC (United Kingdom)(m) | 6.00% | 11/15/2026 | GBP | 202 | 267,213 |
Sherwood Financing PLC (United Kingdom) (3 mo. EURIBOR + 4.63%)(m)(o) | 4.63% | 11/15/2027 | EUR | 891 | 1,010,130 |
4,864,222 | |||||
Home Furnishings–0.39% | |||||
Ideal Standard International S.A. (Belgium)(m) | 6.38% | 07/30/2026 | EUR | 316 | 338,719 |
Very Group Funding PLC (The) (United Kingdom)(m) | 6.50% | 08/01/2026 | GBP | 1,101 | 1,458,820 |
1,797,539 | |||||
Leisure Goods, Activities & Movies–0.11% | |||||
Deuce Finco PLC (United Kingdom) (3 mo. EURIBOR + 4.75%)(m)(o) | 4.75% | 06/15/2027 | EUR | 211 | 237,910 |
Deuce Finco PLC (United Kingdom)(m) | 5.50% | 06/15/2027 | GBP | 211 | 278,264 |
516,174 | |||||
Lodging & Casinos–0.27% | |||||
TVL Finance PLC (United Kingdom) (3 mo. GBP LIBOR + 5.38%)(m)(o) | 5.51% | 07/15/2025 | GBP | 989 | 1,252,448 |
Retailers (except Food & Drug)–0.26% | |||||
Douglas GmbH (Germany)(m) | 6.00% | 04/08/2026 | EUR | 788 | 870,771 |
Kirk Beauty One GmbH (Germany)(h)(m) | 8.25% | 10/01/2026 | EUR | 313 | 336,332 |
1,207,103 | |||||
Total Non-U.S. Dollar Denominated Bonds & Notes (Cost $13,782,691) | 13,205,685 | ||||
Shares | |||||
Preferred Stocks–0.67%(k) | |||||
Automotive–0.00% | |||||
ThermaSys Corp., Series A, Pfd.(e) | 144,220 | 4,327 | |||
Containers & Glass Products–0.06% | |||||
Libbey Glass, Inc., Pfd. (Acquired 11/13/2020; Cost $185,378)(e)(f) | 2,275 | 269,538 | |||
Financial Intermediaries–0.00% | |||||
RJO Holdings Corp., Series A-2, Pfd.(e) | 584 | 2,920 | |||
Oil & Gas–0.15% | |||||
McDermott International Ltd., Pfd.(e) | 563,918 | 366,547 | |||
Southcross Energy Partners L.P., Series A, Pfd.(e) | 292,193 | 159,245 |
Shares | Value | ||||
Oil & Gas–(continued) | |||||
Southcross Energy Partners L.P., Series B, Pfd.(e) | 77,117 | $ 160,018 | |||
685,810 | |||||
Surface Transport–0.46% | |||||
Commercial Barge Line Co., Series A, Pfd. (Acquired 02/15/2018-02/06/2020; Cost $938,463)(f) | 18,575 | 492,237 | |||
Commercial Barge Line Co., Series A, Pfd., Wts., expiring 04/27/2045 (Acquired 02/15/2018-02/06/2020; Cost $986,469)(f) | 19,526 | 517,439 | |||
Commercial Barge Line Co., Series B, Pfd. (Acquired 02/05/2020-10/27/2020; Cost $505,738)(f) | 21,989 | 670,664 | |||
Commercial Barge Line Co., Series B, Pfd., Wts., expiring 04/27/2045 (Acquired 02/05/2020-10/27/2020; Cost $355,189)(f) | 15,443 | 471,012 | |||
2,151,352 | |||||
Total Preferred Stocks (Cost $3,414,192) | 3,113,947 | ||||
TOTAL INVESTMENTS IN SECURITIES(p)–123.84% (Cost $589,194,694) | 572,538,655 | ||||
BORROWINGS–(17.84)% | (82,500,000) | ||||
OTHER ASSETS LESS LIABILITIES–(6.00)% | (27,719,424) | ||||
NET ASSETS–100.00% | $462,319,231 |
DIP | – Debtor-in-Possession |
EUR | – Euro |
EURIBOR | – Euro Interbank Offered Rate |
GBP | – British Pound Sterling |
LIBOR | – London Interbank Offered Rate |
LOC | – Letter of Credit |
Pfd. | – Preferred |
PIK | – Pay-in-Kind |
Rts. | – Rights |
USD | – U.S. Dollar |
Wts. | – Warrants |
(a) | Principal amounts are denominated in U.S. dollars unless otherwise noted. |
(b) | Variable rate senior loan interests often require prepayments from excess cash flow or permit the borrower to repay at its election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with any accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, it is anticipated that the variable rate senior loan interests will have an expected average life of three to five years. |
(c) | Variable rate senior loan interests are, at present, not readily marketable, not registered under the Securities Act of 1933, as amended (the “1933 Act”) and may be subject to contractual and legal restrictions on sale. Variable rate senior loan interests in the Fund’s portfolio generally have variable rates which adjust to a base, such as the London Interbank Offered Rate (“LIBOR”), on set dates, typically every 30 days, but not greater than one year, and/or have interest rates that float at margin above a widely recognized base lending rate such as the Prime Rate of a designated U.S. bank. |
(d) | All or a portion of this holding is subject to unfunded loan commitments. Interest rate will be determined at the time of funding. |
(e) | Security valued using significant unobservable inputs (Level 3). See Note 1. |
(f) | Restricted security. The aggregate value of these securities at November 30, 2021 was $40,720,143, which represented 8.81% of the Fund’s Net Assets. |
(g) | This variable rate interest will settle after November 30, 2021, at which time the interest rate will be determined. |
(h) | All or a portion of this security is Pay-in-Kind. Pay-in-Kind securities pay interest income in the form of securities. |
(i) | The borrower has filed for protection in federal bankruptcy court. |
(j) | Defaulted security. Currently, the issuer is in default with respect to principal and/or interest payments. The aggregate value of these securities at November 30, 2021 was $8,881,079, which represented 1.92% of the Fund’s Net Assets. |
(k) | Securities acquired through the restructuring of senior loans. |
(l) | Non-income producing security. |
(m) | Security purchased or received in a transaction exempt from registration under the 1933 Act. The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at November 30, 2021 was $36,967,062, which represented 8.00% of the Fund’s Net Assets. |
(n) | Foreign denominated security. Principal amount is denominated in the currency indicated. |
(o) | Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on November 30, 2021. |
(p) | Calculated as a percentage of net assets. Amounts in excess of 100% are due to the Fund’s use of leverage. |
Open Forward Foreign Currency Contracts | ||||||
Settlement Date | Counterparty | Contract to | Unrealized Appreciation (Depreciation) | |||
Deliver | Receive | |||||
Currency Risk | ||||||
01/14/2022 | Barclays Capital | GBP | 2,015,664 | USD | 2,737,793 | $54,765 |
12/15/2021 | BNP Paribas S.A. | EUR | 16,056,722 | USD | 18,585,222 | 367,194 |
01/14/2022 | Canadian Imperial Bank of Commerce | EUR | 14,520,869 | USD | 16,843,046 | 347,058 |
12/15/2021 | Citibank, N.A. | EUR | 121,818 | USD | 141,012 | 2,797 |
12/15/2021 | Goldman Sachs International | GBP | 2,581,006 | USD | 3,514,943 | 81,639 |
12/15/2021 | Morgan Stanley & Co. International PLC | EUR | 15,833,092 | USD | 18,338,841 | 374,544 |
12/15/2021 | Morgan Stanley & Co. International PLC | GBP | 2,581,474 | USD | 3,514,115 | 80,188 |
01/14/2022 | Morgan Stanley & Co. International PLC | EUR | 3,102,433 | USD | 3,574,811 | 50,387 |
01/14/2022 | Morgan Stanley & Co. International PLC | GBP | 3,500,000 | USD | 4,687,353 | 28,541 |
01/14/2022 | Royal Bank of Canada | GBP | 2,013,911 | USD | 2,734,543 | 53,848 |
12/15/2021 | State Street Bank & Trust Co. | GBP | 2,581,006 | USD | 3,514,940 | 81,636 |
01/14/2022 | State Street Bank & Trust Co. | EUR | 15,520,869 | USD | 17,989,490 | 357,481 |
01/14/2022 | State Street Bank & Trust Co. | GBP | 1,700,000 | USD | 2,306,328 | 43,476 |
12/15/2021 | Toronto Dominion Bank | EUR | 16,056,722 | USD | 18,593,765 | 375,736 |
01/14/2022 | Toronto Dominion Bank | EUR | 14,526,616 | USD | 16,861,857 | 359,340 |
01/14/2022 | Toronto Dominion Bank | GBP | 2,013,911 | USD | 2,734,364 | 53,669 |
Subtotal—Appreciation | 2,712,299 | |||||
Currency Risk | ||||||
12/15/2021 | Barclays Capital | USD | 2,736,688 | GBP | 2,015,664 | (55,413) |
12/15/2021 | BNP Paribas S.A. | USD | 1,088,167 | GBP | 800,000 | (23,992) |
12/15/2021 | Canadian Imperial Bank of Commerce | USD | 16,823,879 | EUR | 14,520,869 | (348,436) |
12/15/2021 | J.P. Morgan Chase Bank, N.A. | USD | 1,237,926 | GBP | 900,000 | (40,729) |
12/15/2021 | Morgan Stanley & Co. International PLC | USD | 1,160,806 | EUR | 1,000,000 | (26,202) |
01/14/2022 | Morgan Stanley & Co. International PLC | USD | 4,033,596 | GBP | 3,000,000 | (40,328) |
12/15/2021 | Royal Bank of Canada | USD | 2,733,462 | GBP | 2,013,911 | (54,518) |
12/15/2021 | State Street Bank & Trust Co. | USD | 19,147,552 | EUR | 16,520,869 | (402,900) |
12/15/2021 | Toronto Dominion Bank | USD | 16,842,885 | EUR | 14,526,616 | (360,922) |
12/15/2021 | Toronto Dominion Bank | USD | 2,733,266 | GBP | 2,013,911 | (54,322) |
12/15/2021 | UBS AG | USD | 1,741,902 | EUR | 1,500,000 | (39,995) |
Subtotal—Depreciation | (1,447,757) | |||||
Total Forward Foreign Currency Contracts | $1,264,542 |
Abbreviations: | |
EUR | – Euro |
GBP | – British Pound Sterling |
USD | – U.S. Dollar |
Level 1 | Level 2 | Level 3 | Total | |
Investments in Securities | ||||
Variable Rate Senior Loan Interests | $— | $455,279,444 | $40,191,148 | $495,470,592 |
Common Stocks & Other Equity Interests | 11,577,331 | 9,724,413 | 14,541,176 | 35,842,920 |
U.S. Dollar Denominated Bonds & Notes | — | 23,761,377 | 1,144,134 | 24,905,511 |
Non-U.S. Dollar Denominated Bonds & Notes | — | 13,205,685 | — | 13,205,685 |
Preferred Stocks | — | 2,151,352 | 962,595 | 3,113,947 |
Total Investments in Securities | 11,577,331 | 504,122,271 | 56,839,053 | 572,538,655 |
Other Investments - Assets* | ||||
Investments Matured | — | — | 760,085 | 760,085 |
Forward Foreign Currency Contracts | — | 2,712,299 | — | 2,712,299 |
— | 2,712,299 | 760,085 | 3,472,384 | |
Other Investments - Liabilities* | ||||
Forward Foreign Currency Contracts | — | (1,447,757) | — | (1,447,757) |
Total Other Investments | — | 1,264,542 | 760,085 | 2,024,627 |
Total Investments | $11,577,331 | $505,386,813 | $57,599,138 | $574,563,282 |
* | Forward foreign currency contracts are valued at unrealized appreciation (depreciation). Investments matured are shown at value. |
Value 02/28/21 | Purchases at Cost | Proceeds from Sales | Accrued Discounts/ Premiums | Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Transfers into Level 3* | Transfers out of Level 3* | Value 11/30/21 | |
Variable Rate Senior Loan Interests | $39,847,265 | $12,877,351 | $(13,635,248) | $77,727 | $98,868 | $398,208 | $7,350,625 | $(6,823,648) | $40,191,148 |
Common Stocks & Other Equity Interests | 9,303,563 | 4,025,324 | (1,297,096) | — | (40,853) | 1,858,224 | 692,014 | — | 14,541,176 |
U.S. Dollar Denominated Bonds & Notes | 1,353,837 | — | (227,134) | — | 0 | 17,431 | — | — | 1,144,134 |
Preferred Stocks | 261,831 | — | 0 | — | (1,399) | 134,775 | 567,388 | — | 962,595 |
Investments Matured | 756,533 | 13,166 | — | 2 | — | (9,616) | — | — | 760,085 |
Total | $51,523,029 | $16,915,841 | $(15,159,478) | $77,729 | $56,616 | $2,399,022 | $8,610,027 | $(6,823,648) | $57,599,138 |
Fair Value at 11/30/21 | Valuation Technique | Unobservable Inputs | Range of Unobservable Inputs | Unobservable Input Used | ||
IAP Worldwide Services, Inc. | $6,799,258 | Enterprise Value | Multiple 2021 Estimated Earnings Before Interest, Taxes, Depreciation, and Amortization | N/A N/A | 6x $33 million | (a) |
(a) | The Fund fair values certain common equity securities and loans using an Enterprise Value ("EV") approach, which utilizes a multiple of the company’s estimated earnings before interest, taxes, depreciation, and amortization. For common equity securities, the EV will be adjusted for outstanding debt and cash on hand. The Adviser periodically reviews the financial statements and monitors such investments for additional market information or the occurrence of a significant event which would warrant a re-evaluation of the security’s fair valuation. |