Principal
Amount
|
Description
|
Value (†)
|
Bonds and Notes — 73.6% of Net Assets
|
||
|
||
|
||
Non-Convertible Bonds — 72.1%
|
||
|
ABS Car Loan — 3.6%
|
|
$3,200,000
|
American Credit Acceptance Receivables Trust,
Series 2022-1, Class D, 2.460%, 3/13/2028(a)
|
$3,032,666
|
1,785,000
|
American Credit Acceptance Receivables Trust,
Series 2022-4, Class C, 7.860%, 2/15/2029(a)
|
1,798,369
|
13,370,000
|
American Credit Acceptance Receivables Trust,
Series 2023-2, Class C, 5.960%, 8/13/2029(a)
|
13,167,229
|
4,795,000
|
American Credit Acceptance Receivables Trust,
Series 2023-3, Class D, 6.820%, 10/12/2029(a)
|
4,790,277
|
12,340,000
|
AmeriCredit Automobile Receivables Trust,
Series 2019-2, Class D, 2.990%, 6/18/2025
|
12,225,563
|
1,395,000
|
AmeriCredit Automobile Receivables Trust,
Series 2020-2, Class D, 2.130%, 3/18/2026
|
1,337,491
|
11,000,000
|
Avis Budget Rental Car Funding AESOP LLC,
Series 2018-2A, Class D, 3.040%, 3/20/2025(a)
|
10,791,924
|
8,910,000
|
Avis Budget Rental Car Funding AESOP LLC,
Series 2020-2A, Class A, 2.020%, 2/20/2027(a)
|
8,130,781
|
7,500,000
|
Avis Budget Rental Car Funding AESOP LLC,
Series 2021-2A, Class D, 4.080%, 2/20/2028(a)
|
6,301,628
|
7,985,000
|
Avis Budget Rental Car Funding AESOP LLC,
Series 2023-4A, Class C, 7.240%, 6/20/2029(a)
|
7,927,788
|
2,810,000
|
Avis Budget Rental Car Funding AESOP LLC,
Series 2023-8A, Class C, 7.340%, 2/20/2030(a)
|
2,792,539
|
4,625,000
|
CarMax Auto Owner Trust, Series 2020-1,
Class D, 2.640%, 7/15/2026
|
4,551,301
|
2,550,000
|
CarMax Auto Owner Trust, Series 2021-3,
Class D, 1.500%, 1/18/2028
|
2,297,510
|
1,100,000
|
CarMax Auto Owner Trust, Series 2022-1,
Class D, 2.470%, 7/17/2028
|
996,877
|
11,965,000
|
CarMax Auto Owner Trust, Series 2023-1,
Class D, 6.270%, 11/15/2029
|
11,846,654
|
1,540,000
|
CarMax Auto Owner Trust, Series 2023-2,
Class D, 6.550%, 10/15/2029
|
1,521,663
|
1,595,000
|
Carvana Auto Receivables Trust,
Series 2023-N1, Class D, 6.690%, 7/10/2029(a)
|
1,559,256
|
2,525,000
|
Credit Acceptance Auto Loan Trust,
Series 2020-2A, Class C, 2.730%, 11/15/2029(a)
|
2,521,053
|
275,000
|
Credit Acceptance Auto Loan Trust,
Series 2020-3A, Class C, 2.280%, 2/15/2030(a)
|
270,234
|
2,970,000
|
Credit Acceptance Auto Loan Trust,
Series 2023-1A, Class C, 7.710%, 7/15/2033(a)
|
2,978,832
|
4,835,000
|
Credit Acceptance Auto Loan Trust,
Series 2023-2A, Class C, 7.150%, 9/15/2033(a)
|
4,749,904
|
2,035,000
|
Credit Acceptance Auto Loan Trust,
Series 2023-3A, Class C, 7.620%, 12/15/2033(a)
|
2,032,175
|
818,373
|
DT Auto Owner Trust, Series 2019-3A, Class D,
2.960%, 4/15/2025(a)
|
815,701
|
10,500,000
|
DT Auto Owner Trust, Series 2022-1A, Class D,
3.400%, 12/15/2027(a)
|
10,008,873
|
9,695,000
|
DT Auto Owner Trust, Series 2023-1A, Class D,
6.440%, 11/15/2028(a)
|
9,561,450
|
10,700,000
|
DT Auto Owner Trust, Series 2023-2A, Class D,
6.620%, 2/15/2029(a)
|
10,593,632
|
7,695,000
|
DT Auto Owner Trust, Series 2023-3A, Class D,
7.120%, 5/15/2029(a)
|
7,746,457
|
7,410,000
|
Exeter Automobile Receivables Trust,
Series 2021-1A, Class D, 1.080%, 11/16/2026
|
7,089,466
|
2,685,000
|
Exeter Automobile Receivables Trust,
Series 2022-2A, Class D, 4.560%, 7/17/2028
|
2,558,211
|
Principal
Amount
|
Description
|
Value (†)
|
|
||
|
ABS Car Loan — continued
|
|
$4,130,000
|
Exeter Automobile Receivables Trust,
Series 2022-3A, Class D, 6.760%, 9/15/2028
|
$4,106,306
|
2,575,000
|
Exeter Automobile Receivables Trust,
Series 2022-6A, Class C, 6.320%, 5/15/2028
|
2,557,860
|
2,675,000
|
Exeter Automobile Receivables Trust,
Series 2023-1A, Class D, 6.690%, 6/15/2029
|
2,659,410
|
6,035,000
|
Exeter Automobile Receivables Trust,
Series 2023-2A, Class D, 6.320%, 8/15/2029
|
5,896,292
|
3,100,000
|
Exeter Automobile Receivables Trust,
Series 2023-3A, Class D, 6.680%, 4/16/2029
|
3,084,010
|
2,660,000
|
First Investors Auto Owner Trust,
Series 2022-1A, Class D, 3.790%, 6/15/2028(a)
|
2,482,439
|
1,910,000
|
First Investors Auto Owner Trust,
Series 2022-2A, Class D, 8.710%, 10/16/2028(a)
|
1,948,616
|
4,256,700
|
Flagship Credit Auto Trust, Series 2019-3,
Class D, 2.860%, 12/15/2025(a)
|
4,183,625
|
2,520,000
|
Flagship Credit Auto Trust, Series 2023-1,
Class D, 6.460%, 5/15/2029(a)
|
2,484,904
|
11,331,000
|
Flagship Credit Auto Trust, Series 2023-2,
Class D, 6.620%, 5/15/2029(a)
|
11,215,030
|
1,800,000
|
Flagship Credit Auto Trust, Series 2023-3,
Class D, 6.580%, 8/15/2029(a)
|
1,784,612
|
4,225,000
|
Ford Credit Auto Lease Trust, Series 2023-B,
Class D, 6.970%, 6/15/2028
|
4,205,814
|
4,325,424
|
Ford Credit Auto Owner Trust, Series 2020-C,
Class A3, 0.410%, 7/15/2025
|
4,258,076
|
9,555,326
|
Ford Credit Auto Owner Trust, Series 2021-A,
Class A3, 0.300%, 8/15/2025
|
9,367,218
|
245,350
|
GLS Auto Receivables Issuer Trust,
Series 2019-2A, Class C, 3.540%, 2/18/2025(a)
|
245,110
|
4,580,000
|
GLS Auto Receivables Issuer Trust,
Series 2023-2A, Class D, 6.310%, 3/15/2029(a)
|
4,508,978
|
3,550,000
|
GLS Auto Receivables Issuer Trust,
Series 2023-3A, Class D, 6.440%, 5/15/2029(a)
|
3,508,234
|
3,153,764
|
GM Financial Consumer Automobile
Receivables Trust, Series 2021-1, Class A3,
0.350%, 10/16/2025
|
3,088,429
|
11,306,994
|
GM Financial Consumer Automobile
Receivables Trust, Series 2021-2, Class A3,
0.510%, 4/16/2026
|
10,983,147
|
11,298,000
|
Hertz Vehicle Financing III LLC, Series 2022-1A,
Class D, 4.850%, 6/25/2026(a)
|
10,570,604
|
8,396,000
|
Hertz Vehicle Financing III LLC, Series 2022-3A,
Class D, 6.310%, 3/25/2025(a)
|
8,328,521
|
3,850,000
|
Hertz Vehicle Financing III LLC, Series 2023-1A,
Class D2, 9.130%, 6/25/2027(a)
|
3,800,343
|
5,080,000
|
Hertz Vehicle Financing III LLC, Series 2023-3A,
Class D, 9.430%, 2/25/2028(a)
|
5,073,340
|
12,845,000
|
Hertz Vehicle Financing LLC, Series 2022-2A,
Class D, 5.160%, 6/26/2028(a)
|
11,096,420
|
6,675,000
|
Hertz Vehicle Financing LLC, Series 2022-4A,
Class D, 6.560%, 9/25/2026(a)
|
6,372,876
|
4,521,310
|
Honda Auto Receivables Owner Trust,
Series 2021-1, Class A3, 0.270%, 4/21/2025
|
4,440,821
|
501,178
|
JPMorgan Chase Bank N.A, Series 2021-1,
Class D, 1.174%, 9/25/2028(a)
|
488,686
|
5,370,000
|
LAD Auto Receivables Trust, Series 2023-3A,
Class C, 6.430%, 12/15/2028(a)
|
5,334,268
|
1,555,000
|
OneMain Direct Auto Receivables Trust,
Series 2023-1A, Class D, 7.070%, 2/14/2033(a)
|
1,525,583
|
4,350,000
|
Prestige Auto Receivables Trust, Series 2020-1A,
Class E, 3.670%, 2/15/2028(a)
|
4,196,941
|
Principal
Amount
|
Description
|
Value (†)
|
|
||
|
ABS Car Loan — continued
|
|
$4,970,000
|
Prestige Auto Receivables Trust, Series 2023-1A,
Class D, 6.330%, 4/16/2029(a)
|
$4,862,249
|
2,730,000
|
SFS Auto Receivables Securitization Trust,
Series 2023-1A, Class C, 5.970%, 2/20/2031(a)
|
2,688,799
|
3,055,000
|
Westlake Automobile Receivables Trust,
Series 2023-1A, Class D, 6.790%, 11/15/2028(a)
|
3,032,134
|
7,350,000
|
Westlake Automobile Receivables Trust,
Series 2023-2A, Class D, 7.010%, 11/15/2028(a)
|
7,384,633
|
8,400,000
|
Westlake Automobile Receivables Trust,
Series 2023-3A, Class D, 6.470%, 3/15/2029(a)
|
8,307,524
|
|
|
326,067,356
|
|
ABS Credit Card — 0.1%
|
|
8,286,000
|
Mission Lane Credit Card Master Trust,
7.690%, 11/15/2028(a)
|
8,284,817
|
4,007,000
|
Mission Lane Credit Card Master Trust,
Series 2023-A, Class A, 7.230%, 7/17/2028(a)
|
3,975,689
|
|
|
12,260,506
|
|
ABS Home Equity — 3.8%
|
|
15,451,000
|
American Homes 4 Rent Trust, Series 2015-SFR1,
Class E, 5.639%, 4/17/2052(a)
|
15,184,636
|
16,765,000
|
CAFL Issuer LLC, Series 2021-RTL1, Class A1,
2.239%, 3/28/2029(a)(b)
|
15,494,877
|
2,805,340
|
Citigroup Mortgage Loan Trust, Inc.,
Series 2019-RP1, Class A1,
3.500%, 1/25/2066(a)(b)
|
2,628,372
|
21,049,588
|
COLT Mortgage Loan Trust, Series 2021-6,
Class A1, 1.907%, 12/25/2066(a)(b)
|
17,815,916
|
2,434,000
|
CoreVest American Finance Ltd., Series 2019-1,
Class D, 4.818%, 3/15/2052(a)
|
2,225,409
|
2,778,885
|
CoreVest American Finance Ltd., Series 2019-3,
Class A, 2.705%, 10/15/2052(a)
|
2,643,804
|
2,929,000
|
CoreVest American Finance Ltd., Series 2019-3,
Class B, 3.163%, 10/15/2052(a)
|
2,471,811
|
1,259,000
|
CoreVest American Finance Ltd., Series 2020-2,
Class C, 4.750%, 5/15/2052(a)(b)
|
1,145,373
|
1,870,000
|
CoreVest American Finance Ltd., Series 2021-3,
Class D, 3.469%, 10/15/2054(a)
|
1,476,339
|
2,797,219
|
Credit Suisse Mortgage Trust, Series 2020-RPL3,
Class A1, 2.691%, 3/25/2060(a)(b)
|
2,607,375
|
4,607,213
|
Credit Suisse Mortgage Trust, Series 2021-RPL1,
Class A1, 1.668%, 9/27/2060(a)(b)
|
4,240,801
|
5,425,724
|
Federal Home Loan Mortgage Corp.,
Series 2022-DNA3, Class M1A, REMIC, 30 day
USD SOFR Average + 2.000%,
7.315%, 4/25/2042(a)(c)
|
5,464,426
|
5,114,689
|
Federal Home Loan Mortgage Corp. Structured
Agency Credit Risk Debt Notes,
Series 2023-DNA2, Class M1A, 30 day USD SOFR
Average + 2.100%, 7.415%, 4/25/2043(a)(c)
|
5,162,615
|
3,606,871
|
Federal National Mortgage Association
Connecticut Avenue Securities, Series 2022-R06,
Class 1M1, 30 day USD SOFR Average + 2.750%,
8.065%, 5/25/2042(a)(c)
|
3,697,183
|
8,873,369
|
Federal National Mortgage Association
Connecticut Avenue Securities, Series 2023-R02,
Class 1M1, 30 day USD SOFR Average + 2.300%,
7.615%, 1/25/2043(a)(c)
|
8,989,876
|
3,083,000
|
FirstKey Homes Trust, Series 2020-SFR1,
Class D, 2.241%, 8/17/2037(a)
|
2,821,009
|
1,515,000
|
FirstKey Homes Trust, Series 2020-SFR1, Class E,
2.791%, 8/17/2037(a)
|
1,392,137
|
13,696,000
|
FirstKey Homes Trust, Series 2020-SFR2,
Class D, 1.968%, 10/19/2037(a)
|
12,438,446
|
Principal
Amount
|
Description
|
Value (†)
|
|
||
|
ABS Home Equity — continued
|
|
$6,000,000
|
FirstKey Homes Trust, Series 2021-SFR2,
Class B, 1.607%, 9/17/2038(a)
|
$5,216,564
|
10,000,000
|
FirstKey Homes Trust, Series 2021-SFR3,
Class B, 2.435%, 12/17/2038(a)
|
8,847,726
|
9,710,000
|
FirstKey Homes Trust, Series 2022-SFR2,
Class D, 4.500%, 7/17/2039(a)
|
8,771,407
|
3,414,755
|
GCAT Trust, Series 2019-RPL1, Class A1,
2.650%, 10/25/2068(a)(b)
|
3,178,437
|
6,942,710
|
GITSIT Mortgage Loan Trust, Series 2023-NPL1,
Class A1, 8.353%, 5/25/2053(a)(b)
|
6,913,627
|
2,309,831
|
Home Partners of America Trust, Series 2019-1,
Class D, 3.406%, 9/17/2039(a)
|
2,012,737
|
2,426,730
|
Home Partners of America Trust, Series 2019-2,
Class D, 3.121%, 10/19/2039(a)
|
2,095,355
|
982,087
|
Home Partners of America Trust, Series 2021-1,
Class E, 2.577%, 9/17/2041(a)
|
758,442
|
10,348,489
|
Home Partners of America Trust, Series 2021-2,
Class E1, 2.852%, 12/17/2026(a)
|
8,899,601
|
5,164,618
|
Home Partners of America Trust, Series 2021-2,
Class E2, 2.952%, 12/17/2026(a)
|
4,436,444
|
7,451,032
|
Legacy Mortgage Asset Trust, Series 2019-GS7,
Class A1, 6.250%, 11/25/2059(a)(b)
|
7,381,657
|
5,056,126
|
Legacy Mortgage Asset Trust, Series 2020-GS1,
Class A1, 5.882%, 10/25/2059(a)(b)
|
5,025,860
|
1,370,521
|
Legacy Mortgage Asset Trust, Series 2020-GS5,
Class A1, 6.250%, 6/25/2060(a)(b)
|
1,355,424
|
1,933,679
|
Legacy Mortgage Asset Trust, Series 2021-GS4,
Class A1, 1.650%, 11/25/2060(a)(b)
|
1,750,382
|
1,467,786
|
Mill City Mortgage Loan Trust, Series 2018-2,
Class M1, 3.750%, 5/25/2058(a)(b)
|
1,367,724
|
2,040,535
|
Mill City Mortgage Loan Trust, Series 2019-1,
Class A1, 3.250%, 10/25/2069(a)(b)
|
1,920,332
|
2,744,944
|
Mill City Mortgage Loan Trust, Series 2019-1,
Class M1, 3.500%, 10/25/2069(a)(b)
|
2,398,854
|
4,346,743
|
Mill City Mortgage Loan Trust, Series 2019-GS1,
Class A1, 2.750%, 7/25/2059(a)(b)
|
4,069,830
|
5,714,078
|
OBX Trust, Series 2021-NQM3, Class A1,
1.054%, 7/25/2061(a)(b)
|
4,255,358
|
3,860,000
|
Progress Residential Trust, Series 2019-SFR4,
Class D, 3.136%, 10/17/2036(a)
|
3,721,276
|
155,000
|
Progress Residential Trust, Series 2020-SFR2,
Class C, 3.077%, 6/17/2037(a)
|
146,364
|
295,000
|
Progress Residential Trust, Series 2020-SFR3,
Class B, 1.495%, 10/17/2027(a)
|
268,112
|
1,770,000
|
Progress Residential Trust, Series 2020-SFR3,
Class D, 1.896%, 10/17/2027(a)
|
1,611,005
|
1,818,000
|
Progress Residential Trust, Series 2020-SFR3,
Class E, 2.296%, 10/17/2027(a)
|
1,647,373
|
5,780,000
|
Progress Residential Trust, Series 2021-SFR2,
Class E1, 2.547%, 4/19/2038(a)
|
5,074,934
|
2,420,000
|
Progress Residential Trust, Series 2021-SFR3,
Class E1, 2.538%, 5/17/2026(a)
|
2,111,558
|
2,015,000
|
Progress Residential Trust, Series 2021-SFR3,
Class E2, 2.688%, 5/17/2026(a)
|
1,754,470
|
3,575,000
|
Progress Residential Trust, Series 2021-SFR6,
Class E1, 2.425%, 7/17/2038(a)
|
3,091,131
|
1,795,000
|
Progress Residential Trust, Series 2021-SFR6,
Class E2, 2.525%, 7/17/2038(a)
|
1,550,422
|
1,400,000
|
Progress Residential Trust, Series 2021-SFR9,
Class E1, 2.811%, 11/17/2040(a)
|
1,114,516
|
960,000
|
Progress Residential Trust, Series 2021-SFR9,
Class E2, 3.010%, 11/17/2040(a)
|
760,441
|
Principal
Amount
|
Description
|
Value (†)
|
|
||
|
ABS Home Equity — continued
|
|
$1,260,000
|
Progress Residential Trust, Series 2023-SFR1,
Class C, 4.650%, 3/17/2040(a)
|
$1,154,843
|
1,935,000
|
Progress Residential Trust, Series 2023-SFR1,
Class D, 4.650%, 3/17/2040(a)
|
1,739,378
|
1,285,000
|
Progress Residential Trust, Series 2023-SFR2,
Class B, 4.500%, 10/17/2028(a)
|
1,179,052
|
3,795,823
|
PRPM LLC, Series 2020-4, Class A1,
2.951%, 10/25/2025(a)(b)
|
3,713,172
|
5,732,537
|
PRPM LLC, Series 2021-1, Class A1,
2.115%, 1/25/2026(a)(b)
|
5,399,075
|
5,064,277
|
PRPM LLC, Series 2021-10, Class A1,
2.487%, 10/25/2026(a)(b)
|
4,696,805
|
194,288
|
PRPM LLC, Series 2021-2, Class A1,
2.115%, 3/25/2026(a)(b)
|
186,349
|
5,258,766
|
PRPM LLC, Series 2021-8, Class A1,
1.743%, 9/25/2026(a)(b)
|
4,822,047
|
16,258,564
|
PRPM LLC, Series 2022-5, Class A1,
6.900%, 9/27/2027(a)(b)
|
16,139,465
|
366,943
|
Sequoia Mortgage Trust, Series 2017-CH2,
Class A1, 4.000%, 12/25/2047(a)(b)
|
328,119
|
4,930,000
|
Towd Point Mortgage Trust, Series 2017-4,
Class M2, 3.250%, 6/25/2057(a)(b)
|
3,895,826
|
1,775,000
|
Towd Point Mortgage Trust, Series 2018-4,
Class A2, 3.000%, 6/25/2058(a)(b)
|
1,358,803
|
1,943,340
|
Towd Point Mortgage Trust, Series 2018-5,
Class M1, 3.250%, 7/25/2058(a)(b)
|
1,456,513
|
17,610,000
|
Towd Point Mortgage Trust, Series 2019-2,
Class M1, 3.750%, 12/25/2058(a)(b)
|
14,097,752
|
4,582,033
|
Towd Point Mortgage Trust, Series 2019-4,
Class A1, 2.900%, 10/25/2059(a)(b)
|
4,198,393
|
3,325,000
|
Towd Point Mortgage Trust, Series 2020-1,
Class A2B, 3.250%, 1/25/2060(a)(b)
|
2,748,166
|
1,505,000
|
Tricon American Homes, Series 2020-SFR1,
Class B, 2.049%, 7/17/2038(a)
|
1,342,601
|
3,950,000
|
Tricon American Homes, Series 2020-SFR1,
Class D, 2.548%, 7/17/2038(a)
|
3,541,762
|
2,575,000
|
Tricon American Homes Trust, Series 2019-SFR1,
Class D, 3.198%, 3/17/2038(a)
|
2,381,490
|
730,513
|
VCAT LLC, Series 2021-NPL1, Class A1,
2.289%, 12/26/2050(a)(b)
|
706,845
|
6,529,733
|
VCAT LLC, Series 2021-NPL5, Class A1,
1.868%, 8/25/2051(a)(b)
|
6,151,507
|
17,010,279
|
VCAT LLC, Series 2021-NPL6, Class A1,
1.917%, 9/25/2051(a)(b)
|
15,641,066
|
13,390,505
|
Verus Securitization Trust, Series 2021-7,
Class A1, 1.829%, 10/25/2066(a)(b)
|
11,155,880
|
1,978,614
|
VOLT XCII LLC, Series 2021-NPL1, Class A1,
1.893%, 2/27/2051(a)(b)
|
1,859,821
|
7,470,725
|
VOLT XCIII LLC, Series 2021-NPL2, Class A1,
1.893%, 2/27/2051(a)(b)
|
6,940,431
|
7,967,682
|
VOLT XCIV LLC, Series 2021-NPL3, Class A1,
2.240%, 2/27/2051(a)(b)
|
7,507,527
|
3,195,046
|
VOLT XCVI LLC, Series 2021-NPL5, Class A1,
2.116%, 3/27/2051(a)(b)
|
3,023,455
|
6,733,734
|
VOLT XCVII LLC, Series 2021-NPL6, Class A1,
2.240%, 4/25/2051(a)(b)
|
6,271,688
|
|
|
345,045,599
|
|
ABS Other — 2.6%
|
|
2,512,471
|
AASET LLC, Series 2022-1A, Class A,
6.000%, 5/16/2047(a)
|
2,405,279
|
5,236,066
|
AASET Trust, Series 2021-1A, Class A,
2.950%, 11/16/2041(a)
|
4,607,843
|
Principal
Amount
|
Description
|
Value (†)
|
|
||
|
ABS Other — continued
|
|
$234,431
|
ACHV ABS Trust, Series 2023-1PL, Class A,
6.420%, 3/18/2030(a)
|
$234,484
|
4,319,000
|
ACHV ABS Trust, Series 2023-1PL, Class D,
8.470%, 3/18/2030(a)
|
4,353,129
|
4,605,000
|
Affirm Asset Securitization Trust, Series 2023-A,
Class A, 6.610%, 1/18/2028(a)
|
4,575,179
|
8,060,000
|
Affirm Asset Securitization Trust, Series 2023-B,
Class A, 6.820%, 9/15/2028(a)
|
8,049,538
|
11,270,000
|
BHG Securitization Trust, Series 2022-A, Class B,
2.700%, 2/20/2035(a)
|
10,159,149
|
2,818,221
|
Business Jet Securities LLC, Series 2021-1A,
Class A, 2.162%, 4/15/2036(a)
|
2,562,985
|
6,518,750
|
CAL Funding IV Ltd., Series 2020-1A, Class A,
2.220%, 9/25/2045(a)
|
5,674,120
|
880,000
|
Chesapeake Funding II LLC, Series 2023-1A,
Class D, 6.690%, 5/15/2035(a)
|
864,611
|
5,728,975
|
CLI Funding VI LLC, Series 2020-3A, Class A,
2.070%, 10/18/2045(a)
|
4,972,735
|
3,348,613
|
CLI Funding VIII LLC, Series 2021-1A, Class A,
1.640%, 2/18/2046(a)
|
2,859,654
|
9,047,473
|
CLI Funding VIII LLC, Series 2023-1A, Class A,
6.310%, 6/18/2048(a)
|
8,953,307
|
7,535,000
|
Foundation Finance Trust, Series 2023-2A,
Class A, 6.530%, 6/15/2049(a)
|
7,547,041
|
2,375,000
|
Foundation Finance Trust, Series 2023-2A,
Class B, 6.970%, 6/15/2049(a)
|
2,374,359
|
51,030,000
|
Frontier Issuer LLC, Series 2023-1, Class A2,
6.600%, 8/20/2053(a)
|
48,759,675
|
4,990,350
|
Hardee's Funding LLC, Series 2018-1A,
Class A2II, 4.959%, 6/20/2048(a)
|
4,702,467
|
940,068
|
Hilton Grand Vacations Trust, Series 2023-1A,
Class C, 6.940%, 1/25/2038(a)
|
938,113
|
3,105,240
|
Horizon Aircraft Finance I Ltd., Series 2018-1,
Class A, 4.458%, 12/15/2038(a)
|
2,658,980
|
2,240,585
|
Horizon Aircraft Finance II Ltd., Series 2019-1,
Class A, 3.721%, 7/15/2039(a)
|
1,932,150
|
7,401,936
|
Horizon Aircraft Finance III Ltd., Series 2019-2,
Class A, 3.425%, 11/15/2039(a)
|
5,844,420
|
3,135,000
|
HPEFS Equipment Trust, Series 2022-1A, Class D,
2.400%, 11/20/2029(a)
|
2,929,467
|
2,395,000
|
HPEFS Equipment Trust, Series 2023-2A, Class D,
6.970%, 7/21/2031(a)
|
2,401,232
|
4,992,067
|
Kestrel Aircraft Funding Ltd., Series 2018-1A,
Class A, 4.250%, 12/15/2038(a)
|
4,315,492
|
7,875,709
|
Lunar Structured Aircraft Portfolio Notes,
Series 2021-1, Class A, 2.636%, 10/15/2046(a)
|
6,808,369
|
6,544,595
|
MAPS Ltd., Series 2018-1A, Class A,
4.212%, 5/15/2043(a)
|
5,888,774
|
1,625,156
|
MAPS Ltd., Series 2019-1A, Class A,
4.458%, 3/15/2044(a)
|
1,435,062
|
5,832,310
|
MAPS Trust, Series 2021-1A, Class A,
2.521%, 6/15/2046(a)
|
4,998,448
|
5,024,000
|
Marlette Funding Trust, Series 2023-2A, Class B,
6.540%, 6/15/2033(a)
|
5,005,393
|
1,122,517
|
Merlin Aviation Holdings DAC, Series 2016-1,
Class A, 4.500%, 12/15/2032(a)(b)
|
978,206
|
332,687
|
MVW LLC, Series 2020-1A, Class C,
4.210%, 10/20/2037(a)
|
314,393
|
211,251
|
MVW Owner Trust, Series 2019-1A, Class C,
3.330%, 11/20/2036(a)
|
199,138
|
11,938,006
|
Navigator Aircraft ABS Ltd., Series 2021-1,
Class A, 2.771%, 11/15/2046(a)(b)
|
10,359,205
|
Principal
Amount
|
Description
|
Value (†)
|
|
||
|
ABS Other — continued
|
|
$4,675,000
|
OneMain Financial Issuance Trust,
Series 2020-1A, Class B, 4.830%, 5/14/2032(a)
|
$4,645,823
|
8,040,000
|
OneMain Financial Issuance Trust,
Series 2022-S1, Class D, 5.200%, 5/14/2035(a)
|
7,256,381
|
530,000
|
SCF Equipment Leasing LLC, Series 2021-1A,
Class D, 1.930%, 9/20/2030(a)
|
478,054
|
2,555,000
|
SCF Equipment Leasing LLC, Series 2022-1A,
Class D, 3.790%, 11/20/2031(a)
|
2,272,948
|
3,365,000
|
SCF Equipment Leasing LLC, Series 2022-2A,
Class C, 6.500%, 8/20/2032(a)
|
3,259,133
|
1,669,038
|
Shenton Aircraft Investment I Ltd.,
Series 2015-1A, Class A, 4.750%, 10/15/2042(a)
|
1,405,931
|
526,528
|
Sierra Timeshare Receivables Funding LLC,
Series 2021-1A, Class C, 1.790%, 11/20/2037(a)
|
488,886
|
1,491,112
|
Sierra Timeshare Receivables Funding LLC,
Series 2023-1A, Class C, 7.000%, 1/20/2040(a)
|
1,467,735
|
1,914,189
|
Sierra Timeshare Receivables Funding LLC,
Series 2023-2A, Class C, 7.300%, 4/20/2040(a)
|
1,894,605
|
190,000
|
SLM Private Credit Student Loan Trust,
Series 2003-C, Class A3, 28 day Auction Rate
Security, 8.943%, 9/15/2032(c)
|
189,890
|
570,000
|
SLM Private Credit Student Loan Trust,
Series 2003-C, Class A4, 28 day Auction Rate
Security, 8.939%, 9/15/2032(c)
|
557,188
|
10,413,491
|
Sunnova Helios X Issuer LLC, Series 2022-C,
Class A, 5.300%, 11/22/2049(a)
|
9,926,755
|
8,684,385
|
Sunnova Helios XI Issuer LLC, Series 2023-A,
Class B, 5.600%, 5/20/2050(a)
|
8,164,659
|
3,039,604
|
Sunnova Helios XII Issuer LLC, Series 2023-B,
Class B, 5.600%, 8/22/2050(a)
|
2,831,166
|
2,982,412
|
WAVE Trust, Series 2017-1A, Class A,
3.844%, 11/15/2042(a)
|
2,397,472
|
3,213,800
|
Willis Engine Structured Trust IV, Series 2018-A,
Class A, 4.750%, 9/15/2043(a)(b)
|
2,707,755
|
3,145,956
|
Willis Engine Structured Trust VI, Series 2021-A,
Class A, 3.104%, 5/15/2046(a)
|
2,522,771
|
2,469,663
|
Willis Engine Structured Trust VI, Series 2021-A,
Class B, 5.438%, 5/15/2046(a)
|
1,823,848
|
|
|
234,953,397
|
|
ABS Student Loan — 0.4%
|
|
509,201
|
College Avenue Student Loans LLC,
Series 2021-A, Class C, 2.920%, 7/25/2051(a)
|
455,079
|
2,251,910
|
Commonbond Student Loan Trust, Series 2020-1,
Class A, 1.690%, 10/25/2051(a)
|
1,898,806
|
1,949,780
|
EDvestinU Private Education Loan Issue No.
3 LLC, Series 2021-A, Class A,
1.800%, 11/25/2045(a)
|
1,687,482
|
2,830,502
|
ELFI Graduate Loan Program LLC, Series 2019-A,
Class A, 2.540%, 3/25/2044(a)
|
2,506,358
|
3,983,554
|
Laurel Road Prime Student Loan Trust,
Series 2020-A, Class A2FX, 1.400%, 11/25/2050(a)
|
3,596,583
|
677,096
|
Navient Private Education Refi Loan Trust,
Series 2020-HA, Class A, 1.310%, 1/15/2069(a)
|
612,883
|
2,822,896
|
Navient Private Education Refi Loan Trust,
Series 2021-A, Class A, 0.840%, 5/15/2069(a)
|
2,441,842
|
560,000
|
Navient Private Education Refi Loan Trust,
Series 2021-A, Class B, 2.240%, 5/15/2069(a)
|
392,074
|
2,105,000
|
Navient Private Education Refi Loan Trust,
Series 2021-EA, Class B, 2.030%, 12/16/2069(a)
|
1,342,851
|
4,790,000
|
Navient Private Education Refi Loan Trust,
Series 2021-FA, Class B, 2.120%, 2/18/2070(a)
|
2,934,701
|
Principal
Amount
|
Description
|
Value (†)
|
|
||
|
ABS Student Loan — continued
|
|
$303,000
|
SLM Private Credit Student Loan Trust,
Series 2003-A, Class A3, 28 day Auction Rate
Security, 8.941%, 6/15/2032(c)
|
$296,182
|
243,000
|
SLM Private Credit Student Loan Trust,
Series 2003-A, Class A4, 28 day Auction Rate
Security, 8.939%, 6/15/2032(c)
|
237,533
|
477,000
|
SLM Private Credit Student Loan Trust,
Series 2003-B, Class A3, 28 day Auction Rate
Security, 8.942%, 3/15/2033(c)
|
472,742
|
323,000
|
SLM Private Credit Student Loan Trust,
Series 2003-B, Class A4, 28 day Auction Rate
Security, 8.938%, 3/15/2033(c)
|
314,974
|
2,394,879
|
SMB Private Education Loan Trust,
Series 2015-C, Class B, 3.500%, 9/15/2043(a)
|
2,295,959
|
565,000
|
SMB Private Education Loan Trust,
Series 2018-B, Class B, 4.000%, 7/15/2042(a)
|
507,597
|
1,525,000
|
SMB Private Education Loan Trust,
Series 2018-C, Class B, 4.000%, 11/17/2042(a)
|
1,373,614
|
4,540,998
|
SMB Private Education Loan Trust,
Series 2019-A, Class A2A, 3.440%, 7/15/2036(a)
|
4,325,648
|
7,726,164
|
SMB Private Education Loan Trust,
Series 2019-B, Class A2A, 2.840%, 6/15/2037(a)
|
7,219,785
|
629,460
|
SMB Private Education Loan Trust,
Series 2020-A, Class A2A, 2.230%, 9/15/2037(a)
|
578,400
|
4,205,000
|
SMB Private Education Loan Trust,
Series 2023-C, Class B, 6.360%, 11/15/2052(a)
|
4,116,918
|
|
|
39,608,011
|
|
ABS Whole Business — 0.8%
|
|
14,995,000
|
Applebee's Funding LLC/IHOP Funding LLC,
Series 2023-1A, Class A2, 7.824%, 3/05/2053(a)
|
14,782,506
|
2,822,715
|
Domino's Pizza Master Issuer LLC,
Series 2017-1A, Class A23, 4.118%, 7/25/2047(a)
|
2,611,423
|
5,058,728
|
Domino's Pizza Master Issuer LLC,
Series 2018-1A, Class A2II, 4.328%, 7/25/2048(a)
|
4,696,174
|
1,307,575
|
Domino's Pizza Master Issuer LLC,
Series 2019-1A, Class A2, 3.668%, 10/25/2049(a)
|
1,131,362
|
6,505,263
|
Domino's Pizza Master Issuer LLC,
Series 2021-1A, Class A2I, 2.662%, 4/25/2051(a)
|
5,483,865
|
12,017,875
|
EWC Master Issuer LLC, Series 2022-1A,
Class A2, 5.500%, 3/15/2052(a)
|
11,049,403
|
3,895,000
|
Planet Fitness Master Issuer LLC,
Series 2018-1A, Class A2II, 4.666%, 9/05/2048(a)
|
3,733,424
|
2,458,225
|
Planet Fitness Master Issuer LLC,
Series 2019-1A, Class A2, 3.858%, 12/05/2049(a)
|
2,065,101
|
17,395,100
|
Planet Fitness Master Issuer LLC,
Series 2022-1A, Class A2I, 3.251%, 12/05/2051(a)
|
15,554,298
|
6,567,415
|
Stack Infrastructure Issuer LLC, Series 2019-1A,
Class A2, 4.540%, 2/25/2044(a)
|
6,503,336
|
2,426,938
|
Wendy's Funding LLC, Series 2018-1A,
Class A2II, 3.884%, 3/15/2048(a)
|
2,172,917
|
|
|
69,783,809
|
|
Aerospace & Defense — 0.8%
|
|
13,620,000
|
BAE Systems PLC, 3.400%, 4/15/2030(a)
|
11,860,016
|
17,165,000
|
Embraer Netherlands Finance BV,
7.000%, 7/28/2030(a)
|
17,026,920
|
6,885,000
|
Huntington Ingalls Industries, Inc.,
3.844%, 5/01/2025
|
6,649,983
|
4,245,000
|
Huntington Ingalls Industries, Inc.,
4.200%, 5/01/2030
|
3,839,075
|
5,005,000
|
Textron, Inc., 2.450%, 3/15/2031
|
3,977,044
|
29,075,000
|
Textron, Inc., 3.000%, 6/01/2030
|
24,465,612
|
|
|
67,818,650
|
Principal
Amount
|
Description
|
Value (†)
|
|
||
|
Airlines — 0.7%
|
|
$4,850,558
|
American Airlines Pass-Through Trust,
Series 2016-1, Class B, 5.250%, 7/15/2025
|
$4,802,489
|
10,792,906
|
American Airlines Pass-Through Trust,
Series 2016-3, Class A, 3.250%, 4/15/2030
|
9,233,284
|
1,053,476
|
American Airlines Pass-Through Trust,
Series 2016-3, Class B, 3.750%, 4/15/2027
|
984,273
|
4,627,962
|
American Airlines Pass-Through Trust,
Series 2017-2, Class A, 3.600%, 4/15/2031
|
4,015,449
|
2,204,837
|
American Airlines Pass-Through Trust,
Series 2017-2, Class B, 3.700%, 4/15/2027
|
2,093,674
|
13,971,831
|
American Airlines Pass-Through Trust,
Series 2019-1, Class B, 3.850%, 8/15/2029
|
12,306,529
|
4,412,882
|
British Airways Pass-Through Trust,
Series 2019-1, Class A, 3.350%, 12/15/2030(a)
|
3,908,931
|
4,520,357
|
United Airlines Pass-Through Trust, Series 20-1,
Class A, 5.875%, 4/15/2029
|
4,477,685
|
2,160,915
|
United Airlines Pass-Through Trust,
Series 2018-1, Class A, 3.700%, 9/01/2031
|
1,851,020
|
20,665,000
|
United Airlines Pass-Through Trust,
Series 2023-1, Class A, 5.800%, 7/15/2037
|
20,094,233
|
|
|
63,767,567
|
|
Apartment REITs — 0.0%
|
|
2,185,000
|
American Homes 4 Rent LP, 2.375%, 7/15/2031
|
1,665,909
|
|
Automotive — 1.6%
|
|
25,580,000
|
American Honda Finance Corp., MTN,
0.550%, 7/12/2024
|
24,596,242
|
4,895,000
|
Aptiv PLC/Aptiv Corp., 3.250%, 3/01/2032
|
4,013,101
|
5,274,000
|
Cummins, Inc., 6.750%, 2/15/2027
|
5,455,240
|
13,060,000
|
Daimler Truck Finance North America LLC,
5.500%, 9/20/2033(a)
|
12,383,237
|
9,966,000
|
General Motors Co., 5.200%, 4/01/2045
|
7,748,725
|
16,870,000
|
General Motors Co., 5.400%, 4/01/2048
|
13,324,894
|
4,295,000
|
General Motors Co., 5.600%, 10/15/2032
|
4,010,051
|
200,000
|
General Motors Co., 5.950%, 4/01/2049
|
169,634
|
9,600,000
|
General Motors Co., 6.250%, 10/02/2043
|
8,601,040
|
2,025,000
|
General Motors Financial Co., Inc.,
3.100%, 1/12/2032
|
1,566,706
|
360,000
|
General Motors Financial Co., Inc.,
5.850%, 4/06/2030
|
344,834
|
31,570,000
|
General Motors Financial Co., Inc.,
6.000%, 1/09/2028
|
31,183,517
|
4,480,000
|
General Motors Financial Co., Inc.,
6.400%, 1/09/2033
|
4,375,189
|
24,360,000
|
Volkswagen Group of America Finance LLC,
0.875%, 11/22/2023(a)
|
24,195,686
|
2,895,000
|
Volkswagen Group of America Finance LLC,
3.350%, 5/13/2025(a)
|
2,774,252
|
|
|
144,742,348
|
|
Banking — 10.8%
|
|
4,425,000
|
AIB Group PLC, (fixed rate to 9/13/2028, variable
rate thereafter), 6.608%, 9/13/2029(a)
|
4,406,598
|
5,125,000
|
Ally Financial, Inc., 2.200%, 11/02/2028
|
4,049,377
|
27,951,000
|
Ally Financial, Inc., 4.625%, 3/30/2025
|
26,988,345
|
1,468,000
|
Ally Financial, Inc., 8.000%, 11/01/2031
|
1,481,001
|
11,790,000
|
American Express Co., 5.850%, 11/05/2027
|
11,875,100
|
4,360,000
|
American Express Co., (fixed rate to 8/03/2032,
variable rate thereafter), 4.420%, 8/03/2033
|
3,890,179
|
10,155,000
|
Banco Santander Mexico SA Institucion de
Banca Multiple Grupo Financiero Santand,
5.375%, 4/17/2025(a)
|
9,980,894
|
5,800,000
|
Banco Santander SA, 2.749%, 12/03/2030
|
4,321,871
|
Principal
Amount
|
Description
|
Value (†)
|
|
||
|
Banking — continued
|
|
$49,304,000
|
Bank of America Corp., (fixed rate to 12/20/2027,
variable rate thereafter), 3.419%, 12/20/2028
|
$44,228,082
|
58,160,000
|
Bank of America Corp., (fixed rate to 9/15/2033,
variable rate thereafter), 5.872%, 9/15/2034
|
56,600,185
|
11,022,000
|
Bank of America Corp., (fixed rate to 9/21/2031,
variable rate thereafter), 2.482%, 9/21/2036
|
8,020,465
|
100,000
|
Bank of America Corp., MTN, 4.250%, 10/22/2026
|
94,996
|
4,210,000
|
Bank of America Corp., MTN, (fixed rate to
7/22/2032, variable rate thereafter),
5.015%, 7/22/2033
|
3,873,390
|
25,627,000
|
Bank of America Corp., Series L,
4.183%, 11/25/2027
|
23,822,886
|
24,260,000
|
Barclays PLC, (fixed rate to 11/24/2026, variable
rate thereafter), 2.279%, 11/24/2027
|
21,374,667
|
13,685,000
|
Barclays PLC, (fixed rate to 5/09/2033, variable
rate thereafter), 6.224%, 5/09/2034
|
12,963,656
|
4,287,000
|
Barclays PLC, (fixed rate to 6/20/2029, variable
rate thereafter), 5.088%, 6/20/2030
|
3,831,241
|
41,135,000
|
Barclays PLC, (fixed rate to 9/23/2030, variable
rate thereafter), 3.564%, 9/23/2035
|
31,760,791
|
3,335,000
|
BBVA Bancomer SA, 1.875%, 9/18/2025(a)
|
3,059,574
|
14,045,000
|
BNP Paribas SA, (fixed rate to 1/20/2027,
variable rate thereafter), 2.591%, 1/20/2028(a)
|
12,512,720
|
22,500,000
|
BNP Paribas SA, (fixed rate to 3/01/2028,
variable rate thereafter), 4.375%, 3/01/2033(a)
|
19,974,779
|
12,845,000
|
CaixaBank SA, (fixed rate to 9/13/2033, variable
rate thereafter), 6.840%, 9/13/2034(a)
|
12,595,550
|
460,000
|
Capital One Financial Corp., 4.200%, 10/29/2025
|
438,631
|
1,230,000
|
Citigroup, Inc., 4.125%, 7/25/2028
|
1,119,065
|
30,355,000
|
Citigroup, Inc., (fixed rate to 9/29/2025, variable
rate thereafter), 5.610%, 9/29/2026
|
30,046,362
|
7,155,000
|
Credit Agricole SA, (fixed rate to 1/10/2028,
variable rate thereafter), 4.000%, 1/10/2033(a)
|
6,344,267
|
14,970,000
|
Credit Suisse AG, MTN, 3.700%, 2/21/2025
|
14,430,549
|
14,200,000
|
Danske Bank AS, 5.375%, 1/12/2024(a)
|
14,143,128
|
3,390,000
|
Danske Bank AS, (fixed rate to 12/20/2024,
variable rate thereafter), 3.244%, 12/20/2025(a)
|
3,246,508
|
4,690,000
|
Deutsche Bank AG, (fixed rate to 10/14/2030,
variable rate thereafter), 3.729%, 1/14/2032
|
3,491,207
|
2,640,000
|
Deutsche Bank AG, (fixed rate to 12/01/2027,
variable rate thereafter), 4.875%, 12/01/2032
|
2,252,272
|
6,235,000
|
Deutsche Bank AG, (fixed rate to 9/18/2030,
variable rate thereafter), 3.547%, 9/18/2031
|
5,026,688
|
19,755,000
|
Deutsche Bank AG, Series E, 0.962%, 11/08/2023
|
19,637,086
|
4,980,000
|
Goldman Sachs Group, Inc., (fixed rate to
2/24/2032, variable rate thereafter),
3.102%, 2/24/2033
|
3,982,540
|
61,445,000
|
Goldman Sachs Group, Inc., (fixed rate to
8/23/2027, variable rate thereafter),
4.482%, 8/23/2028
|
58,158,369
|
11,115,000
|
Goldman Sachs Group, Inc., (fixed rate to
9/10/2026, variable rate thereafter),
1.542%, 9/10/2027
|
9,730,404
|
19,485,000
|
HSBC Holdings PLC, (fixed rate to 3/09/2028,
variable rate thereafter), 6.161%, 3/09/2029
|
19,289,029
|
6,325,000
|
ING Groep NV, (fixed rate to 9/11/2033, variable
rate thereafter), 6.114%, 9/11/2034
|
6,142,280
|
8,460,000
|
Intesa Sanpaolo SpA, 6.625%, 6/20/2033(a)
|
7,950,115
|
70,245,000
|
JPMorgan Chase & Co., 4.125%, 12/15/2026
|
66,763,578
|
28,715,000
|
JPMorgan Chase & Co., (fixed rate to 3/24/2030,
variable rate thereafter), 4.493%, 3/24/2031
|
26,292,065
|
12,025,000
|
JPMorgan Chase & Co., (fixed rate to 4/22/2026,
variable rate thereafter), 1.578%, 4/22/2027
|
10,731,491
|
Principal
Amount
|
Description
|
Value (†)
|
|
||
|
Banking — continued
|
|
$4,230,000
|
JPMorgan Chase & Co., (fixed rate to 7/25/2032,
variable rate thereafter), 4.912%, 7/25/2033
|
$3,891,810
|
100,000
|
KeyBank NA, 6.950%, 2/01/2028
|
96,825
|
25,937,000
|
Mitsubishi UFJ Financial Group, Inc.,
3.850%, 3/01/2026
|
24,782,687
|
18,930,000
|
Morgan Stanley, (fixed rate to 1/19/2033,
variable rate thereafter), 5.948%, 1/19/2038
|
17,693,416
|
3,775,000
|
Morgan Stanley, (fixed rate to 10/18/2032,
variable rate thereafter), 6.342%, 10/18/2033
|
3,796,514
|
36,610,000
|
Morgan Stanley, (fixed rate to 2/01/2028,
variable rate thereafter), 5.123%, 2/01/2029
|
35,256,004
|
11,262,000
|
Morgan Stanley, (fixed rate to 4/28/2025,
variable rate thereafter), 2.188%, 4/28/2026
|
10,579,439
|
6,640,000
|
Morgan Stanley, MTN, (fixed rate to 7/21/2033,
variable rate thereafter), 5.424%, 7/21/2034
|
6,263,458
|
25,560,000
|
Nationwide Building Society,
0.550%, 1/22/2024(a)
|
25,135,704
|
7,340,000
|
NatWest Group PLC, (fixed rate to 9/30/2027,
variable rate thereafter), 5.516%, 9/30/2028
|
7,102,291
|
15,160,000
|
Santander Holdings USA, Inc.,
3.244%, 10/05/2026
|
13,732,940
|
20,295,000
|
Societe Generale SA, 4.250%, 4/14/2025(a)
|
19,499,436
|
11,950,000
|
Societe Generale SA, (fixed rate to 7/08/2030,
variable rate thereafter), 3.653%, 7/08/2035(a)
|
9,402,435
|
46,970,000
|
Standard Chartered PLC, (fixed rate to
11/18/2030, variable rate thereafter),
3.265%, 2/18/2036(a)
|
35,661,116
|
26,765,000
|
Standard Chartered PLC, (fixed rate to 4/01/2030,
variable rate thereafter), 4.644%, 4/01/2031(a)
|
24,078,726
|
11,923,000
|
Sumitomo Mitsui Financial Group, Inc.,
1.474%, 7/08/2025
|
11,029,140
|
13,965,000
|
Sumitomo Mitsui Financial Group, Inc.,
5.464%, 1/13/2026
|
13,826,020
|
3,270,000
|
Synchrony Bank, 5.400%, 8/22/2025
|
3,145,675
|
9,645,000
|
Synchrony Bank, 5.625%, 8/23/2027
|
8,957,408
|
3,865,000
|
Synchrony Financial, 4.375%, 3/19/2024
|
3,817,649
|
250,000
|
UBS Group AG, (fixed rate to 1/12/2028, variable
rate thereafter), 3.869%, 1/12/2029(a)
|
226,446
|
8,810,000
|
UBS Group AG, (fixed rate to 11/15/2032, variable
rate thereafter), 9.016%, 11/15/2033(a)
|
10,173,916
|
1,675,000
|
UBS Group AG, (fixed rate to 6/05/2025, variable
rate thereafter), 2.193%, 6/05/2026(a)
|
1,557,849
|
12,730,000
|
UBS Group AG, (fixed rate to 7/15/2025, variable
rate thereafter), 6.373%, 7/15/2026(a)
|
12,682,016
|
11,410,000
|
UBS Group AG, (fixed rate to 8/11/2027, variable
rate thereafter), 6.442%, 8/11/2028(a)
|
11,388,207
|
24,120,000
|
UBS Group AG, (fixed rate to 8/12/2032, variable
rate thereafter), 6.537%, 8/12/2033(a)
|
23,893,272
|
5,578,000
|
UniCredit SpA, (fixed rate to 6/03/2026, variable
rate thereafter), 1.982%, 6/03/2027(a)
|
4,927,445
|
4,125,000
|
UniCredit SpA, (fixed rate to 6/30/2030, variable
rate thereafter), 5.459%, 6/30/2035(a)
|
3,458,005
|
|
|
976,977,830
|
|
Brokerage — 0.4%
|
|
6,810,000
|
Jefferies Financial Group, Inc., 5.875%, 7/21/2028
|
6,664,501
|
19,498,000
|
Jefferies Financial Group, Inc., 6.250%, 1/15/2036
|
19,164,571
|
8,760,000
|
Jefferies Financial Group, Inc., 6.450%, 6/08/2027
|
8,818,566
|
|
|
34,647,638
|
|
Building Materials — 1.1%
|
|
58,340,000
|
Cemex SAB de CV, 3.875%, 7/11/2031(a)
|
48,866,474
|
16,180,000
|
Cemex SAB de CV, 5.200%, 9/17/2030(a)
|
14,870,739
|
5,955,000
|
Cemex SAB de CV, 5.450%, 11/19/2029(a)
|
5,641,259
|
Principal
Amount
|
Description
|
Value (†)
|
|
||
|
Building Materials — continued
|
|
$3,285,000
|
Ferguson Finance PLC, 3.250%, 6/02/2030(a)
|
$2,784,357
|
23,975,000
|
Owens Corning, 7.000%, 12/01/2036
|
25,304,037
|
|
|
97,466,866
|
|
Cable Satellite — 1.5%
|
|
1,110,000
|
CCO Holdings LLC/CCO Holdings Capital Corp.,
4.250%, 1/15/2034(a)
|
817,269
|
6,970,000
|
Charter Communications Operating LLC/Charter
Communications Operating Capital,
2.300%, 2/01/2032
|
5,079,556
|
8,340,000
|
Charter Communications Operating LLC/Charter
Communications Operating Capital,
2.800%, 4/01/2031
|
6,504,007
|
24,760,000
|
Charter Communications Operating LLC/Charter
Communications Operating Capital,
3.950%, 6/30/2062
|
14,044,967
|
1,790,000
|
Charter Communications Operating LLC/Charter
Communications Operating Capital,
4.400%, 4/01/2033
|
1,522,464
|
12,605,000
|
Charter Communications Operating LLC/Charter
Communications Operating Capital,
4.400%, 12/01/2061
|
7,765,914
|
28,090,000
|
Charter Communications Operating LLC/Charter
Communications Operating Capital,
4.800%, 3/01/2050
|
19,642,381
|
19,240,000
|
CSC Holdings LLC, 3.375%, 2/15/2031(a)
|
13,110,856
|
4,204,000
|
CSC Holdings LLC, 4.125%, 12/01/2030(a)
|
2,975,230
|
2,275,000
|
CSC Holdings LLC, 4.500%, 11/15/2031(a)
|
1,610,197
|
38,005,000
|
CSC Holdings LLC, 4.625%, 12/01/2030(a)
|
20,205,480
|
910,000
|
CSC Holdings LLC, 5.000%, 11/15/2031(a)
|
487,739
|
1,035,000
|
CSC Holdings LLC, 5.750%, 1/15/2030(a)
|
579,906
|
1,534,000
|
CSC Holdings LLC, 6.500%, 2/01/2029(a)
|
1,270,821
|
3,270,000
|
DISH DBS Corp., 5.125%, 6/01/2029
|
1,812,823
|
9,616,000
|
DISH DBS Corp., 5.250%, 12/01/2026(a)
|
8,172,166
|
6,160,000
|
DISH DBS Corp., 5.750%, 12/01/2028(a)
|
4,735,500
|
2,921,000
|
Sirius XM Radio, Inc., 5.000%, 8/01/2027(a)
|
2,668,041
|
2,030,000
|
Sirius XM Radio, Inc., 5.500%, 7/01/2029(a)
|
1,795,497
|
17,891,000
|
Time Warner Cable LLC, 4.500%, 9/15/2042
|
12,395,220
|
15,815,000
|
Time Warner Cable LLC, 5.500%, 9/01/2041
|
12,371,016
|
|
|
139,567,050
|
|
Chemicals — 0.6%
|
|
9,180,000
|
Braskem Netherlands Finance BV,
4.500%, 1/31/2030(a)
|
7,481,957
|
6,060,000
|
Braskem Netherlands Finance BV,
5.875%, 1/31/2050(a)
|
4,364,932
|
2,240,000
|
Celanese U.S. Holdings LLC, 6.330%, 7/15/2029
|
2,195,673
|
1,645,000
|
Celanese U.S. Holdings LLC, 6.379%, 7/15/2032
|
1,584,994
|
6,850,000
|
Celanese U.S. Holdings LLC, 6.700%, 11/15/2033
|
6,667,889
|
27,205,000
|
CF Industries, Inc., 4.500%, 12/01/2026(a)
|
26,030,506
|
3,740,000
|
FMC Corp., 3.450%, 10/01/2029
|
3,149,367
|
|
|
51,475,318
|
|
Construction Machinery — 0.5%
|
|
2,470,000
|
Ashtead Capital, Inc., 5.500%, 8/11/2032(a)
|
2,282,157
|
5,305,000
|
Ashtead Capital, Inc., 5.550%, 5/30/2033(a)
|
4,921,638
|
5,270,000
|
Ashtead Capital, Inc., 5.950%, 10/15/2033(a)
|
5,003,114
|
23,395,000
|
Caterpillar Financial Services Corp., MTN,
0.950%, 1/10/2024
|
23,096,326
|
5,730,000
|
John Deere Capital Corp., MTN,
0.900%, 1/10/2024
|
5,656,284
|
8,900,000
|
John Deere Capital Corp., MTN,
1.250%, 1/10/2025
|
8,433,643
|
|
|
49,393,162
|
Principal
Amount
|
Description
|
Value (†)
|
|
||
|
Consumer Cyclical Services — 0.9%
|
|
$26,845,000
|
Expedia Group, Inc., 2.950%, 3/15/2031
|
$21,627,535
|
34,931,000
|
Expedia Group, Inc., 3.250%, 2/15/2030
|
29,544,751
|
6,030,000
|
Uber Technologies, Inc., 4.500%, 8/15/2029(a)
|
5,389,956
|
8,430,000
|
Uber Technologies, Inc., 6.250%, 1/15/2028(a)
|
8,243,402
|
5,015,000
|
Uber Technologies, Inc., 7.500%, 9/15/2027(a)
|
5,056,644
|
7,805,000
|
Uber Technologies, Inc., 8.000%, 11/01/2026(a)
|
7,896,748
|
|
|
77,759,036
|
|
Consumer Products — 0.1%
|
|
7,458,000
|
Hasbro, Inc., 6.600%, 7/15/2028
|
7,592,919
|
767,000
|
Natura Cosmeticos SA, 4.125%, 5/03/2028(a)
|
658,645
|
|
|
8,251,564
|
|
Diversified Manufacturing — 0.4%
|
|
4,113,000
|
GE Capital Funding LLC, 4.550%, 5/15/2032
|
3,790,876
|
2,460,000
|
Ingersoll Rand, Inc., 5.700%, 8/14/2033
|
2,374,184
|
2,965,000
|
Nordson Corp., 5.600%, 9/15/2028
|
2,936,534
|
3,990,000
|
Nordson Corp., 5.800%, 9/15/2033
|
3,897,417
|
24,175,000
|
Veralto Corp., 5.450%, 9/18/2033(a)
|
23,389,793
|
|
|
36,388,804
|
|
Electric — 1.2%
|
|
7,435,000
|
AES Corp., 2.450%, 1/15/2031
|
5,718,002
|
3,695,000
|
AES Corp., 3.950%, 7/15/2030(a)
|
3,184,794
|
13,410,906
|
Alta Wind Holdings LLC, 7.000%, 6/30/2035(a)
|
12,042,104
|
11,318,000
|
Calpine Corp., 3.750%, 3/01/2031(a)
|
9,118,047
|
13,025,000
|
Enel Finance International NV,
6.000%, 10/07/2039(a)
|
12,107,193
|
9,007,000
|
Enel Finance International NV,
6.800%, 9/15/2037(a)
|
9,082,931
|
2,355,000
|
IPALCO Enterprises, Inc., 4.250%, 5/01/2030
|
2,065,394
|
9,641,000
|
NRG Energy, Inc., 4.450%, 6/15/2029(a)
|
8,361,087
|
6,185,000
|
Pacific Gas & Electric Co., 3.250%, 6/01/2031
|
4,915,121
|
7,265,000
|
Pacific Gas & Electric Co., 4.300%, 3/15/2045
|
4,916,200
|
4,540,000
|
Pacific Gas & Electric Co., 4.550%, 7/01/2030
|
4,013,172
|
2,050,000
|
Pacific Gas & Electric Co., 5.450%, 6/15/2027
|
1,972,982
|
9,000,000
|
Southern California Edison Co.,
5.300%, 3/01/2028
|
8,883,039
|
10,600,000
|
Southern Co., 5.700%, 3/15/2034
|
10,381,037
|
10,835,000
|
Vistra Operations Co. LLC, 3.700%, 1/30/2027(a)
|
9,882,909
|
|
|
106,644,012
|
|
Finance Companies — 4.2%
|
|
26,609,000
|
AerCap Ireland Capital DAC/AerCap Global
Aviation Trust, 3.000%, 10/29/2028
|
22,816,637
|
18,918,000
|
AerCap Ireland Capital DAC/AerCap Global
Aviation Trust, 3.300%, 1/30/2032
|
15,038,142
|
8,057,000
|
AerCap Ireland Capital DAC/AerCap Global
Aviation Trust, 3.400%, 10/29/2033
|
6,232,261
|
860,000
|
AerCap Ireland Capital DAC/AerCap Global
Aviation Trust, 3.650%, 7/21/2027
|
780,650
|
6,084,000
|
AerCap Ireland Capital DAC/AerCap Global
Aviation Trust, 5.750%, 6/06/2028
|
5,943,884
|
13,515,000
|
AerCap Ireland Capital DAC/AerCap Global
Aviation Trust, 6.150%, 9/30/2030
|
13,311,740
|
4,995,000
|
Air Lease Corp., 3.125%, 12/01/2030
|
4,067,244
|
2,235,000
|
Air Lease Corp., 3.250%, 10/01/2029
|
1,901,457
|
10,270,000
|
Air Lease Corp., 3.375%, 7/01/2025
|
9,756,441
|
340,000
|
Air Lease Corp., 4.625%, 10/01/2028
|
315,017
|
6,791,000
|
Air Lease Corp., MTN, 3.000%, 2/01/2030
|
5,585,555
|
12,430,000
|
Aircastle Ltd., 4.125%, 5/01/2024
|
12,252,071
|
18,295,000
|
Aircastle Ltd., 6.500%, 7/18/2028(a)
|
17,941,510
|
10,260,000
|
Ares Capital Corp., 2.875%, 6/15/2028
|
8,581,381
|
14,460,000
|
Ares Capital Corp., 3.200%, 11/15/2031
|
11,063,991
|
7,560,000
|
Aviation Capital Group LLC, 1.950%, 1/30/2026(a)
|
6,796,778
|
Principal
Amount
|
Description
|
Value (†)
|
|
||
|
Finance Companies — continued
|
|
$7,510,000
|
Aviation Capital Group LLC,
5.500%, 12/15/2024(a)
|
$7,382,978
|
6,475,000
|
Aviation Capital Group LLC, 6.250%, 4/15/2028(a)
|
6,324,586
|
14,460,000
|
Aviation Capital Group LLC, 6.375%, 7/15/2030(a)
|
14,002,843
|
8,135,000
|
Barings BDC, Inc., 3.300%, 11/23/2026
|
7,137,536
|
27,825,000
|
Blackstone Secured Lending Fund,
2.125%, 2/15/2027
|
23,590,987
|
10,036,000
|
Blue Owl Capital Corp., 2.625%, 1/15/2027
|
8,619,433
|
32,846,000
|
Blue Owl Capital Corp., 2.875%, 6/11/2028
|
27,008,439
|
13,940,000
|
Blue Owl Technology Finance Corp.,
2.500%, 1/15/2027
|
11,703,746
|
20,360,000
|
GATX Corp., 5.450%, 9/15/2033
|
19,106,871
|
1,805,000
|
GATX Corp., 6.050%, 3/15/2034
|
1,762,734
|
3,680,000
|
Oaktree Specialty Lending Corp.,
2.700%, 1/15/2027
|
3,168,815
|
29,600,000
|
Rocket Mortgage LLC/Rocket Mortgage
Co-Issuer, Inc., 2.875%, 10/15/2026(a)
|
26,068,424
|
25,570,000
|
Rocket Mortgage LLC/Rocket Mortgage
Co-Issuer, Inc., 3.625%, 3/01/2029(a)
|
21,139,622
|
7,445,000
|
Rocket Mortgage LLC/Rocket Mortgage
Co-Issuer, Inc., 3.625%, 3/01/2029
|
6,155,044
|
28,285,000
|
Rocket Mortgage LLC/Rocket Mortgage
Co-Issuer, Inc., 3.875%, 3/01/2031(a)
|
22,553,610
|
25,002,000
|
Rocket Mortgage LLC/Rocket Mortgage
Co-Issuer, Inc., 4.000%, 10/15/2033(a)
|
18,881,086
|
12,180,000
|
SMBC Aviation Capital Finance DAC,
5.450%, 5/03/2028(a)
|
11,770,906
|
|
|
378,762,419
|
|
Financial Other — 0.0%
|
|
2,310,000
|
CIFI Holdings Group Co. Ltd.,
6.000%, 7/16/2025(d)
|
154,562
|
720,000
|
CIFI Holdings Group Co. Ltd.,
6.450%, 11/07/2024(d)
|
47,664
|
6,220,000
|
Country Garden Holdings Co. Ltd.,
3.300%, 1/12/2031
|
386,946
|
1,110,000
|
Icahn Enterprises LP/Icahn Enterprises Finance
Corp., 4.375%, 2/01/2029
|
887,622
|
2,050,000
|
Logan Group Co. Ltd., 4.250%, 7/12/2025(d)
|
102,500
|
3,445,000
|
Logan Group Co. Ltd., 4.850%, 12/14/2026(d)
|
172,250
|
6,065,000
|
Shimao Group Holdings Ltd.,
3.450%, 1/11/2031(d)
|
242,600
|
400,000
|
Shimao Group Holdings Ltd.,
4.600%, 7/13/2030(d)
|
13,808
|
3,495,000
|
Shimao Group Holdings Ltd.,
4.750%, 7/03/2022(d)
|
131,028
|
4,345,000
|
Shimao Group Holdings Ltd.,
5.200%, 1/16/2027(d)
|
130,350
|
3,780,000
|
Shimao Group Holdings Ltd.,
5.600%, 7/15/2026(d)
|
150,255
|
1,265,000
|
Shimao Group Holdings Ltd.,
6.125%, 2/21/2024(d)
|
50,600
|
5,120,000
|
Times China Holdings Ltd., 5.750%, 1/14/2027(d)
|
153,600
|
1,835,000
|
Times China Holdings Ltd., 6.200%, 3/22/2026(d)
|
55,050
|
1,415,000
|
Times China Holdings Ltd., 6.750%, 7/08/2025(d)
|
42,450
|
|
|
2,721,285
|
|
Food & Beverage — 0.5%
|
|
19,005,000
|
Bacardi Ltd./Bacardi-Martini BV,
5.400%, 6/15/2033(a)
|
17,808,166
|
4,895,000
|
JBS USA LUX SA/JBS USA Food Co./JBS USA
Finance, Inc., 3.000%, 2/02/2029
|
4,107,824
|
3,625,000
|
JBS USA LUX SA/JBS USA Food Co./JBS USA
Finance, Inc., 3.750%, 12/01/2031
|
2,903,770
|
Principal
Amount
|
Description
|
Value (†)
|
|
||
|
Food & Beverage — continued
|
|
$10,660,000
|
JBS USA LUX SA/JBS USA Food Co./JBS USA
Finance, Inc., 5.500%, 1/15/2030
|
$9,951,508
|
13,590,000
|
Pilgrim's Pride Corp., 3.500%, 3/01/2032
|
10,509,178
|
2,065,000
|
Pilgrim's Pride Corp., 4.250%, 4/15/2031
|
1,722,633
|
1,920,000
|
Smithfield Foods, Inc., 3.000%, 10/15/2030(a)
|
1,467,665
|
|
|
48,470,744
|
|
Gaming — 0.7%
|
|
14,625,000
|
Genm Capital Labuan Ltd., 3.882%, 4/19/2031(a)
|
11,443,372
|
4,880,000
|
GLP Capital LP/GLP Financing II, Inc.,
3.250%, 1/15/2032
|
3,787,313
|
4,380,000
|
VICI Properties LP, 5.125%, 5/15/2032
|
3,920,421
|
5,278,000
|
VICI Properties LP/VICI Note Co., Inc.,
3.875%, 2/15/2029(a)
|
4,560,790
|
21,330,000
|
VICI Properties LP/VICI Note Co., Inc.,
4.250%, 12/01/2026(a)
|
19,874,251
|
7,785,000
|
VICI Properties LP/VICI Note Co., Inc.,
4.500%, 9/01/2026(a)
|
7,313,656
|
6,760,000
|
VICI Properties LP/VICI Note Co., Inc.,
4.625%, 6/15/2025(a)
|
6,528,064
|
5,560,000
|
VICI Properties LP/VICI Note Co., Inc.,
5.625%, 5/01/2024(a)
|
5,524,813
|
|
|
62,952,680
|
|
Government Owned - No Guarantee — 0.3%
|
|
8,755,000
|
Antares Holdings LP, 2.750%, 1/15/2027(a)
|
7,413,710
|
12,655,000
|
Antares Holdings LP, 3.750%, 7/15/2027(a)
|
10,902,293
|
10,070,000
|
Antares Holdings LP, 7.950%, 8/11/2028(a)
|
10,010,298
|
2,185,000
|
Sino-Ocean Land Treasure IV Ltd.,
4.750%, 8/05/2029(e)
|
76,693
|
4,210,000
|
Sino-Ocean Land Treasure IV Ltd.,
4.750%, 1/14/2030(e)
|
138,256
|
|
|
28,541,250
|
|
Health Care REITs — 0.1%
|
|
5,972,000
|
Welltower OP LLC, 6.500%, 3/15/2041
|
5,863,793
|
|
Health Insurance — 0.5%
|
|
1,370,000
|
Centene Corp., 2.450%, 7/15/2028
|
1,157,436
|
24,555,000
|
Centene Corp., 2.500%, 3/01/2031
|
18,863,608
|
4,145,000
|
Centene Corp., 2.625%, 8/01/2031
|
3,174,666
|
2,520,000
|
Centene Corp., 3.000%, 10/15/2030
|
2,032,657
|
10,030,000
|
Centene Corp., 3.375%, 2/15/2030
|
8,365,742
|
8,750,000
|
Centene Corp., 4.625%, 12/15/2029
|
7,880,513
|
4,380,000
|
Elevance Health, Inc., 4.100%, 5/15/2032
|
3,901,312
|
|
|
45,375,934
|
|
Healthcare — 1.2%
|
|
6,325,000
|
Alcon Finance Corp., 5.375%, 12/06/2032(a)
|
6,135,111
|
19,420,000
|
Cigna Group, 4.375%, 10/15/2028
|
18,375,398
|
5,240,000
|
CVS Health Corp., 1.750%, 8/21/2030
|
4,032,185
|
7,210,000
|
CVS Health Corp., 3.250%, 8/15/2029
|
6,308,194
|
3,380,000
|
CVS Health Corp., 5.250%, 1/30/2031
|
3,247,580
|
307,472
|
CVS Pass-Through Trust, 5.773%, 1/10/2033(a)
|
296,474
|
275,785
|
CVS Pass-Through Trust, 6.036%, 12/10/2028
|
273,090
|
9,650,944
|
CVS Pass-Through Trust, Series 2013,
4.704%, 1/10/2036(a)
|
8,693,667
|
1,014,196
|
CVS Pass-Through Trust, Series 2014,
4.163%, 8/11/2036(a)
|
867,414
|
685,000
|
Encompass Health Corp., 4.750%, 2/01/2030
|
606,013
|
5,280,000
|
HCA, Inc., 2.375%, 7/15/2031
|
4,041,255
|
2,671,000
|
HCA, Inc., 3.500%, 9/01/2030
|
2,259,734
|
10,120,000
|
HCA, Inc., 4.125%, 6/15/2029
|
9,161,446
|
16,050,000
|
HCA, Inc., 4.500%, 2/15/2027
|
15,321,410
|
28,645,000
|
HCA, Inc., 5.500%, 6/01/2033
|
27,090,248
|
|
|
106,709,219
|
Principal
Amount
|
Description
|
Value (†)
|
|
||
|
Home Construction — 0.2%
|
|
$5,370,000
|
MDC Holdings, Inc., 3.966%, 8/06/2061
|
$2,955,659
|
12,384,000
|
MDC Holdings, Inc., 6.000%, 1/15/2043
|
10,364,533
|
6,130,000
|
Meritage Homes Corp., 3.875%, 4/15/2029(a)
|
5,273,210
|
|
|
18,593,402
|
|
Independent Energy — 2.8%
|
|
6,782,000
|
Aker BP ASA, 2.000%, 7/15/2026(a)
|
6,052,841
|
7,360,000
|
Aker BP ASA, 3.100%, 7/15/2031(a)
|
5,890,066
|
9,925,000
|
Aker BP ASA, 3.750%, 1/15/2030(a)
|
8,528,520
|
16,455,000
|
Aker BP ASA, 4.000%, 1/15/2031(a)
|
14,135,273
|
50,613,000
|
Continental Resources, Inc., 2.875%, 4/01/2032(a)
|
37,901,502
|
49,120,000
|
Continental Resources, Inc., 5.750%, 1/15/2031(a)
|
46,146,044
|
4,685,000
|
Diamondback Energy, Inc., 3.125%, 3/24/2031
|
3,902,518
|
4,090,000
|
Diamondback Energy, Inc., 6.250%, 3/15/2033
|
4,092,334
|
6,910,000
|
Energian Israel Finance Ltd.,
5.375%, 3/30/2028(a)
|
6,197,233
|
9,035,000
|
Energian Israel Finance Ltd.,
5.875%, 3/30/2031(a)
|
7,835,604
|
1,625,000
|
EQT Corp., 3.125%, 5/15/2026(a)
|
1,503,434
|
9,675,000
|
EQT Corp., 3.625%, 5/15/2031(a)
|
8,184,469
|
15,955,000
|
EQT Corp., 3.900%, 10/01/2027
|
14,757,954
|
1,970,000
|
EQT Corp., 5.000%, 1/15/2029
|
1,851,820
|
25,820,000
|
EQT Corp., 5.700%, 4/01/2028
|
25,305,795
|
1,461,000
|
EQT Corp., 6.125%, 2/01/2025
|
1,455,961
|
14,690,000
|
Hess Corp., 4.300%, 4/01/2027
|
13,953,700
|
4,675,000
|
Leviathan Bond Ltd., 6.125%, 6/30/2025(a)
|
4,546,952
|
4,030,000
|
Marathon Oil Corp., 6.800%, 3/15/2032
|
4,090,785
|
6,090,000
|
Occidental Petroleum Corp., 5.550%, 3/15/2026
|
6,009,734
|
11,260,000
|
Ovintiv, Inc., 6.500%, 8/15/2034
|
11,089,642
|
1,110,000
|
Ovintiv, Inc., 7.375%, 11/01/2031
|
1,163,076
|
1,750,000
|
Southwestern Energy Co., 4.750%, 2/01/2032
|
1,502,005
|
5,600,000
|
Var Energi ASA, 7.500%, 1/15/2028(a)
|
5,746,380
|
13,015,000
|
Var Energi ASA, 8.000%, 11/15/2032(a)
|
13,656,639
|
|
|
255,500,281
|
|
Industrial Other — 0.3%
|
|
22,510,000
|
Jacobs Engineering Group, Inc.,
6.350%, 8/18/2028
|
22,444,457
|
|
Leisure — 0.4%
|
|
520,000
|
Carnival Corp., 4.000%, 8/01/2028(a)
|
450,880
|
11,905,000
|
Carnival Corp., 5.750%, 3/01/2027(a)
|
10,776,694
|
3,075,000
|
Carnival Corp., 7.000%, 8/15/2029(a)
|
3,032,031
|
5,010,000
|
NCL Corp. Ltd., 5.875%, 3/15/2026(a)
|
4,625,448
|
12,330,000
|
NCL Corp. Ltd., 5.875%, 2/15/2027(a)
|
11,710,664
|
4,205,000
|
Royal Caribbean Cruises Ltd.,
5.500%, 4/01/2028(a)
|
3,855,950
|
|
|
34,451,667
|
|
Life Insurance — 1.6%
|
|
11,800,000
|
Athene Global Funding, 1.608%, 6/29/2026(a)
|
10,309,819
|
18,770,000
|
Athene Global Funding, 1.716%, 1/07/2025(a)
|
17,619,571
|
21,550,000
|
Athene Global Funding, 2.550%, 11/19/2030(a)
|
16,526,499
|
7,385,000
|
Athene Holding Ltd., 3.500%, 1/15/2031
|
6,016,256
|
8,255,000
|
CNO Financial Group, Inc., 5.250%, 5/30/2029
|
7,783,062
|
19,600,000
|
Fidelity & Guaranty Life Holdings, Inc.,
5.500%, 5/01/2025(a)
|
19,134,636
|
9,063,000
|
Mutual of Omaha Insurance Co.,
6.800%, 6/15/2036(a)
|
8,816,172
|
26,914,000
|
National Life Insurance Co.,
10.500%, 9/15/2039(a)
|
32,672,250
|
6,440,000
|
NLV Financial Corp., 7.500%, 8/15/2033(a)
|
6,372,251
|
Principal
Amount
|
Description
|
Value (†)
|
|
||
|
Life Insurance — continued
|
|
$2,872,000
|
Penn Mutual Life Insurance Co.,
6.650%, 6/15/2034(a)
|
$2,782,649
|
14,489,000
|
Penn Mutual Life Insurance Co.,
7.625%, 6/15/2040(a)
|
15,060,240
|
|
|
143,093,405
|
|
Local Authorities — 0.1%
|
|
14,455,000
|
Province of Quebec, CN, 0.600%, 7/23/2025
|
13,297,383
|
|
Lodging — 0.1%
|
|
1,795,000
|
Marriott International, Inc., Series FF,
4.625%, 6/15/2030
|
1,653,480
|
3,525,000
|
Marriott International, Inc., Series HH,
2.850%, 4/15/2031
|
2,841,502
|
975,000
|
Marriott Ownership Resorts, Inc.,
4.500%, 6/15/2029(a)
|
816,952
|
3,215,000
|
Travel & Leisure Co., 4.500%, 12/01/2029(a)
|
2,696,581
|
1,395,000
|
Travel & Leisure Co., 4.625%, 3/01/2030(a)
|
1,173,921
|
1,795,000
|
Travel & Leisure Co., 6.000%, 4/01/2027
|
1,707,763
|
235,000
|
Travel & Leisure Co., 6.625%, 7/31/2026(a)
|
228,655
|
|
|
11,118,854
|
|
Media Entertainment — 1.7%
|
|
5,195,000
|
Electronic Arts, Inc., 1.850%, 2/15/2031
|
4,036,295
|
2,610,000
|
iHeartCommunications, Inc.,
4.750%, 1/15/2028(a)
|
1,995,285
|
8,525,000
|
iHeartCommunications, Inc.,
5.250%, 8/15/2027(a)
|
6,756,205
|
27,080,000
|
Meta Platforms, Inc., 4.950%, 5/15/2033
|
25,952,086
|
3,105,000
|
Netflix, Inc., 4.875%, 4/15/2028
|
3,008,489
|
27,310,000
|
Netflix, Inc., 4.875%, 6/15/2030(a)
|
25,854,595
|
15,315,000
|
Netflix, Inc., 5.375%, 11/15/2029(a)
|
14,943,324
|
11,295,000
|
Netflix, Inc., 5.875%, 11/15/2028
|
11,358,941
|
16,970,000
|
Netflix, Inc., 6.375%, 5/15/2029
|
17,522,491
|
11,520,000
|
Warnermedia Holdings, Inc., 3.755%, 3/15/2027
|
10,635,466
|
4,125,000
|
Warnermedia Holdings, Inc., 4.054%, 3/15/2029
|
3,675,215
|
30,385,000
|
Warnermedia Holdings, Inc., 4.279%, 3/15/2032
|
25,791,349
|
|
|
151,529,741
|
|
Metals & Mining — 3.7%
|
|
3,220,000
|
Alcoa Nederland Holding BV,
4.125%, 3/31/2029(a)
|
2,849,101
|
4,390,000
|
Alcoa Nederland Holding BV,
6.125%, 5/15/2028(a)
|
4,227,052
|
550,000
|
Anglo American Capital PLC,
2.625%, 9/10/2030(a)
|
439,362
|
1,325,000
|
Anglo American Capital PLC,
2.875%, 3/17/2031(a)
|
1,053,022
|
6,260,000
|
Anglo American Capital PLC,
4.000%, 9/11/2027(a)
|
5,844,743
|
34,334,000
|
Anglo American Capital PLC,
4.500%, 3/15/2028(a)
|
32,353,861
|
8,785,000
|
Anglo American Capital PLC,
4.750%, 4/10/2027(a)
|
8,419,483
|
11,085,000
|
Anglo American Capital PLC,
5.500%, 5/02/2033(a)
|
10,369,614
|
11,405,000
|
ArcelorMittal SA, 6.750%, 3/01/2041
|
10,869,785
|
15,655,000
|
ArcelorMittal SA, 6.800%, 11/29/2032
|
15,547,669
|
3,363,000
|
First Quantum Minerals Ltd., 6.875%, 3/01/2026(a)
|
3,264,416
|
13,145,000
|
First Quantum Minerals Ltd.,
6.875%, 10/15/2027(a)
|
12,611,013
|
1,399,000
|
First Quantum Minerals Ltd., 7.500%, 4/01/2025(a)
|
1,396,251
|
6,325,000
|
FMG Resources August 2006 Pty. Ltd.,
4.375%, 4/01/2031(a)
|
5,204,149
|
9,940,000
|
FMG Resources August 2006 Pty. Ltd.,
4.500%, 9/15/2027(a)
|
8,995,700
|
Principal
Amount
|
Description
|
Value (†)
|
|
||
|
Metals & Mining — continued
|
|
$4,740,000
|
Freeport-McMoRan, Inc., 4.250%, 3/01/2030
|
$4,188,275
|
2,080,000
|
Freeport-McMoRan, Inc., 4.625%, 8/01/2030
|
1,874,032
|
10,045,000
|
Glencore Funding LLC, 2.500%, 9/01/2030(a)
|
7,942,782
|
7,820,000
|
Glencore Funding LLC, 2.625%, 9/23/2031(a)
|
6,035,613
|
6,704,000
|
Glencore Funding LLC, 2.850%, 4/27/2031(a)
|
5,319,713
|
7,688,000
|
Glencore Funding LLC, 3.875%, 10/27/2027(a)
|
7,113,168
|
39,092,000
|
Glencore Funding LLC, 4.000%, 3/27/2027(a)
|
36,693,863
|
14,940,000
|
Glencore Funding LLC, 5.700%, 5/08/2033(a)
|
14,166,545
|
31,520,000
|
Glencore Funding LLC, 6.125%, 10/06/2028(a)
|
31,465,896
|
30,235,000
|
Glencore Funding LLC, 6.375%, 10/06/2030(a)
|
30,153,604
|
56,980,000
|
Glencore Funding LLC, 6.500%, 10/06/2033(a)
|
56,879,463
|
4,280,000
|
Newcrest Finance Pty. Ltd., 3.250%, 5/13/2030(a)
|
3,638,993
|
1,855,000
|
Reliance Steel & Aluminum Co.,
2.150%, 8/15/2030
|
1,457,328
|
4,710,000
|
Steel Dynamics, Inc., 3.250%, 1/15/2031
|
3,986,698
|
2,010,000
|
Volcan Cia Minera SAA, 4.375%, 2/11/2026(a)
|
1,147,279
|
|
|
335,508,473
|
|
Midstream — 2.8%
|
|
5,562,000
|
Cheniere Energy Partners LP, 3.250%, 1/31/2032
|
4,420,666
|
26,995,000
|
Cheniere Energy Partners LP, 4.000%, 3/01/2031
|
23,078,997
|
3,122,000
|
Cheniere Energy Partners LP, 4.500%, 10/01/2029
|
2,826,887
|
10,500,000
|
Cheniere Energy Partners LP,
5.950%, 6/30/2033(a)
|
10,126,935
|
13,555,000
|
DCP Midstream Operating LP, 3.250%, 2/15/2032
|
10,936,333
|
3,045,000
|
DCP Midstream Operating LP, 5.125%, 5/15/2029
|
2,900,871
|
650,000
|
DCP Midstream Operating LP,
6.450%, 11/03/2036(a)
|
639,113
|
25,810,000
|
Enbridge, Inc., 5.700%, 3/08/2033
|
24,725,944
|
7,000,000
|
Energy Transfer LP, 4.950%, 6/15/2028
|
6,699,127
|
6,405,000
|
Energy Transfer LP, 5.250%, 4/15/2029
|
6,141,334
|
40,895,000
|
Energy Transfer LP, 5.750%, 2/15/2033
|
39,310,863
|
6,225,000
|
EnLink Midstream LLC, 6.500%, 9/01/2030(a)
|
6,039,308
|
4,080,000
|
Enterprise Products Operating LLC,
5.350%, 1/31/2033
|
3,988,803
|
1,435,000
|
Gray Oak Pipeline LLC, 3.450%, 10/15/2027(a)
|
1,271,311
|
14,040,000
|
MPLX LP, 4.250%, 12/01/2027
|
13,187,985
|
4,355,000
|
MPLX LP, 5.000%, 3/01/2033
|
3,968,436
|
85,000
|
NGPL PipeCo LLC, 7.768%, 12/15/2037(a)
|
87,427
|
3,710,000
|
Plains All American Pipeline LP/PAA Finance
Corp., 3.800%, 9/15/2030
|
3,186,695
|
1,385,000
|
Plains All American Pipeline LP/PAA Finance
Corp., 4.300%, 1/31/2043
|
984,096
|
12,445,000
|
Sabine Pass Liquefaction LLC, 4.500%, 5/15/2030
|
11,412,822
|
810,000
|
Targa Resources Corp., 5.200%, 7/01/2027
|
793,737
|
16,685,000
|
Targa Resources Corp., 6.125%, 3/15/2033
|
16,356,311
|
4,825,000
|
Targa Resources Partners LP/Targa Resources
Partners Finance Corp., 4.000%, 1/15/2032
|
4,051,504
|
1,955,000
|
Targa Resources Partners LP/Targa Resources
Partners Finance Corp., 4.875%, 2/01/2031
|
1,750,995
|
1,975,000
|
Targa Resources Partners LP/Targa Resources
Partners Finance Corp., 5.500%, 3/01/2030
|
1,848,426
|
7,095,000
|
Venture Global Calcasieu Pass LLC,
3.875%, 11/01/2033(a)
|
5,508,736
|
13,365,000
|
Venture Global Calcasieu Pass LLC,
4.125%, 8/15/2031(a)
|
10,967,598
|
3,175,000
|
Venture Global Calcasieu Pass LLC,
6.250%, 1/15/2030(a)
|
3,028,536
|
2,170,000
|
Western Midstream Operating LP,
4.050%, 2/01/2030
|
1,896,780
|
2,870,000
|
Western Midstream Operating LP,
5.250%, 2/01/2050
|
2,235,828
|
Principal
Amount
|
Description
|
Value (†)
|
|
||
|
Midstream — continued
|
|
$5,070,000
|
Western Midstream Operating LP,
5.300%, 3/01/2048
|
$3,957,349
|
5,140,000
|
Western Midstream Operating LP,
5.450%, 4/01/2044
|
4,143,384
|
710,000
|
Western Midstream Operating LP,
5.500%, 8/15/2048
|
564,534
|
1,790,000
|
Western Midstream Operating LP,
6.150%, 4/01/2033
|
1,726,291
|
11,620,000
|
Western Midstream Operating LP,
6.350%, 1/15/2029
|
11,643,960
|
4,385,000
|
Williams Cos., Inc., 4.650%, 8/15/2032
|
3,988,897
|
|
|
250,396,819
|
|
Mortgage Related — 0.0%
|
|
495
|
Federal National Mortgage Association,
6.000%, 7/01/2029
|
497
|
|
Natural Gas — 0.1%
|
|
5,225,000
|
Southern Co. Gas Capital Corp.,
5.750%, 9/15/2033
|
5,122,200
|
|
Non-Agency Commercial Mortgage-Backed
Securities — 1.6%
|
|
8,625,000
|
BANK, Series 2021-BN35, Class AS,
2.457%, 6/15/2064
|
6,441,052
|
410,000
|
BBSG Mortgage Trust, Series 2016-MRP,
Class A, 3.275%, 6/05/2036(a)
|
331,880
|
701,728
|
BB-UBS Trust, Series 2012-TFT, Class A,
2.892%, 6/05/2030(a)
|
616,285
|
4,400,000
|
BPR Trust, Series 2022-SSP, Class A, 1 mo. USD
SOFR + 3.000%, 8.332%, 5/15/2039(a)(c)
|
4,389,006
|
8,370,000
|
BPR Trust, Series 2022-STAR, Class A, 1 mo. USD
SOFR + 3.232%, 8.564%, 8/15/2024(a)(c)
|
8,308,746
|
65,250
|
Commercial Mortgage Pass-Through
Certificates, Series 2012-CR3, Class AM,
3.416%, 10/15/2045(a)
|
60,291
|
644,848
|
Commercial Mortgage Pass-Through
Certificates, Series 2012-LTRT, Class A2,
3.400%, 10/05/2030(a)
|
532,258
|
556,103
|
Commercial Mortgage Trust, Series 2012-LC4,
Class B, 4.934%, 12/10/2044(b)
|
500,493
|
2,010,000
|
Commercial Mortgage Trust, Series 2012-LC4,
Class C, 5.476%, 12/10/2044(b)
|
1,626,592
|
370,000
|
Credit Suisse Mortgage Trust, Series 2014-USA,
Class B, 4.185%, 9/15/2037(a)
|
292,210
|
510,000
|
Credit Suisse Mortgage Trust, Series 2014-USA,
Class C, 4.336%, 9/15/2037(a)
|
383,888
|
12,790,000
|
Credit Suisse Mortgage Trust, Series 2014-USA,
Class D, 4.373%, 9/15/2037(a)
|
9,817,374
|
5,095,000
|
DBUBS Mortgage Trust, Series 2017-BRBK,
Class D, 3.648%, 10/10/2034(a)(b)
|
4,101,331
|
9,295,000
|
DC Commercial Mortgage Trust, Series 2023-DC,
Class B, 6.804%, 9/12/2040(a)
|
9,257,067
|
6,507,038
|
Extended Stay America Trust, Series 2021-ESH,
Class B, 1 mo. USD SOFR + 1.494%,
6.827%, 7/15/2038(a)(c)
|
6,427,381
|
5,108,871
|
Extended Stay America Trust, Series 2021-ESH,
Class C, 1 mo. USD SOFR + 1.814%,
7.147%, 7/15/2038(a)(c)
|
5,032,498
|
8,215,000
|
GS Mortgage Securities Corp. Trust,
Series 2012-BWTR, Class A,
2.954%, 11/05/2034(a)
|
6,015,563
|
4,375,000
|
GS Mortgage Securities Corportation Trust,
Series 2013-PEMB, Class A,
3.668%, 3/05/2033(a)(b)
|
3,765,186
|
Principal
Amount
|
Description
|
Value (†)
|
|
||
|
Non-Agency Commercial Mortgage-Backed
Securities — continued
|
|
$9,406,000
|
GS Mortgage Securities Corportation Trust,
Series 2013-PEMB, Class D,
3.668%, 3/05/2033(a)(b)
|
$5,455,482
|
6,079,000
|
GS Mortgage Securities Trust,
Series 2014-GC18, Class B, 4.885%, 1/10/2047(b)
|
5,056,061
|
1,540,000
|
Hudsons Bay Simon JV Trust, Series 2015-HB7,
Class A7, 3.914%, 8/05/2034(a)
|
1,309,000
|
6,225,955
|
JP Morgan Chase Commercial Mortgage
Securities Trust, Series 2012-LC9, Class C,
3.910%, 12/15/2047(a)(b)
|
5,560,444
|
340,000
|
JP Morgan Chase Commercial Mortgage
Securities Trust, Series 2012-LC9, Class D,
3.910%, 12/15/2047(a)(b)
|
273,695
|
3,031,000
|
JPMBB Commercial Mortgage Securities Trust,
Series 2015-C32, Class A5, 3.598%, 11/15/2048
|
2,829,882
|
9,434,721
|
Med Trust, Series 2021-MDLN, Class B, 1 mo.
USD SOFR + 1.564%, 6.897%, 11/15/2038(a)(c)
|
9,197,860
|
7,957,809
|
Med Trust, Series 2021-MDLN, Class C, 1 mo.
USD SOFR + 1.914%, 7.247%, 11/15/2038(a)(c)
|
7,726,659
|
5,720,546
|
Med Trust, Series 2021-MDLN, Class D, 1 mo.
USD SOFR + 2.114%, 7.447%, 11/15/2038(a)(c)
|
5,483,597
|
1,116,009
|
Morgan Stanley Bank of America Merrill Lynch
Trust, Series 2013-C11, Class A4,
4.020%, 8/15/2046(b)
|
1,107,639
|
1,405,000
|
Morgan Stanley Bank of America Merrill Lynch
Trust, Series 2013-C12, Class C,
5.074%, 10/15/2046(b)
|
1,333,986
|
3,456,000
|
Morgan Stanley Capital I Trust, Series 2011-C2,
Class E, 5.385%, 6/15/2044(a)(b)
|
2,414,609
|
881,632
|
MSBAM Commercial Mortgage Securities Trust,
Series 2012-CKSV, Class A2,
3.277%, 10/15/2030(a)
|
727,346
|
4,735,000
|
RBS Commercial Funding, Inc. Trust,
Series 2013-GSP, Class A, 3.961%, 1/15/2032(a)(b)
|
4,657,455
|
7,345,000
|
SCOTT Trust, Series 2023-SFS, Class A,
5.910%, 3/15/2040(a)
|
7,122,770
|
3,711,059
|
Wells Fargo Commercial Mortgage Trust,
Series 2013-LC12, Class B, 4.087%, 7/15/2046(b)
|
3,015,235
|
2,910,000
|
Wells Fargo Commercial Mortgage Trust,
Series 2014-LC16, Class AS, 4.020%, 8/15/2050
|
2,811,530
|
4,030,000
|
Wells Fargo Commercial Mortgage Trust,
Series 2016-C36, Class AS, 3.419%, 11/15/2059
|
3,587,216
|
535,000
|
WFRBS Commercial Mortgage Trust,
Series 2011-C3, Class D, 6.050%, 3/15/2044(a)(b)
|
152,791
|
1,362,914
|
WFRBS Commercial Mortgage Trust,
Series 2012-C10, Class B, 3.744%, 12/15/2045
|
1,182,328
|
4,615,000
|
WFRBS Commercial Mortgage Trust,
Series 2014-C20, Class B, 4.378%, 5/15/2047
|
3,554,935
|
1,290,000
|
WFRBS Commercial Mortgage Trust,
Series 2014-C24, Class B, 4.204%, 11/15/2047(b)
|
1,105,848
|
|
|
143,565,469
|
|
Office REITs — 0.0%
|
|
2,085,000
|
Corporate Office Properties LP,
2.750%, 4/15/2031
|
1,564,905
|
|
Paper — 0.3%
|
|
10,460,000
|
Suzano Austria GmbH, 3.750%, 1/15/2031
|
8,597,867
|
16,595,000
|
Weyerhaeuser Co., 4.000%, 4/15/2030
|
14,708,242
|
2,515,000
|
WRKCo, Inc., 4.000%, 3/15/2028
|
2,331,193
|
|
|
25,637,302
|
|
Pharmaceuticals — 1.0%
|
|
4,130,000
|
Amgen, Inc., 5.250%, 3/02/2033
|
3,948,110
|
Principal
Amount
|
Description
|
Value (†)
|
|
||
|
Pharmaceuticals — continued
|
|
$2,935,000
|
Bausch Health Cos., Inc., 4.875%, 6/01/2028(a)
|
$1,669,094
|
17,300,000
|
Pfizer Investment Enterprises Pte. Ltd.,
4.750%, 5/19/2033
|
16,353,305
|
980,000
|
Teva Pharmaceutical Finance Co. LLC,
6.150%, 2/01/2036
|
869,037
|
11,215,000
|
Teva Pharmaceutical Finance Netherlands III
BV, 3.150%, 10/01/2026
|
9,995,598
|
35,510,000
|
Teva Pharmaceutical Finance Netherlands III
BV, 4.100%, 10/01/2046
|
22,228,039
|
6,835,000
|
Teva Pharmaceutical Finance Netherlands III
BV, 4.750%, 5/09/2027
|
6,271,338
|
3,140,000
|
Teva Pharmaceutical Finance Netherlands III
BV, 5.125%, 5/09/2029
|
2,838,560
|
4,495,000
|
Teva Pharmaceutical Finance Netherlands III
BV, 6.750%, 3/01/2028
|
4,414,074
|
13,080,000
|
Teva Pharmaceutical Finance Netherlands III
BV, 7.875%, 9/15/2029
|
13,250,877
|
4,885,000
|
Teva Pharmaceutical Finance Netherlands III
BV, 8.125%, 9/15/2031
|
5,053,787
|
|
|
86,891,819
|
|
Property & Casualty Insurance — 0.3%
|
|
16,635,000
|
Fidelity National Financial, Inc.,
3.400%, 6/15/2030
|
14,135,946
|
3,159,000
|
SiriusPoint Ltd., 4.600%, 11/01/2026(a)
|
2,727,607
|
14,195,000
|
Stewart Information Services Corp.,
3.600%, 11/15/2031
|
10,431,223
|
|
|
27,294,776
|
|
Restaurants — 0.1%
|
|
5,310,000
|
1011778 BC ULC/New Red Finance, Inc.,
4.000%, 10/15/2030(a)
|
4,412,470
|
1,430,000
|
KFC Holding Co./Pizza Hut Holdings LLC/Taco
Bell of America LLC, 4.750%, 6/01/2027(a)
|
1,358,500
|
4,800,000
|
Starbucks Corp., 3.000%, 2/14/2032
|
3,971,471
|
2,375,000
|
Yum! Brands, Inc., 4.750%, 1/15/2030(a)
|
2,133,273
|
|
|
11,875,714
|
|
Retail REITs — 0.1%
|
|
1,600,000
|
Brixmor Operating Partnership LP,
2.250%, 4/01/2028
|
1,347,334
|
2,280,000
|
Brixmor Operating Partnership LP,
4.050%, 7/01/2030
|
1,990,448
|
6,815,000
|
Simon Property Group LP, 2.650%, 7/15/2030
|
5,606,299
|
|
|
8,944,081
|
|
Retailers — 0.5%
|
|
4,890,000
|
AutoNation, Inc., 3.850%, 3/01/2032
|
3,974,583
|
1,960,000
|
AutoNation, Inc., 4.750%, 6/01/2030
|
1,765,960
|
14,585,000
|
AutoZone, Inc., 4.000%, 4/15/2030
|
13,140,023
|
5,620,000
|
Dollar General Corp., 3.500%, 4/03/2030
|
4,802,450
|
5,070,000
|
Dollar Tree, Inc., 2.650%, 12/01/2031
|
3,928,994
|
11,080,000
|
Lithia Motors, Inc., 3.875%, 6/01/2029(a)
|
9,332,795
|
8,064,000
|
Marks & Spencer PLC, 7.125%, 12/01/2037(a)
|
7,547,743
|
3,145,000
|
Tapestry, Inc., 3.050%, 3/15/2032
|
2,303,937
|
|
|
46,796,485
|
|
Supermarkets — 0.0%
|
|
325,000
|
Koninklijke Ahold Delhaize NV,
5.700%, 10/01/2040
|
303,748
|
|
Technology — 6.5%
|
|
5,095,000
|
Arrow Electronics, Inc., 2.950%, 2/15/2032
|
3,983,444
|
4,625,000
|
Broadcom, Inc., 2.450%, 2/15/2031(a)
|
3,614,923
|
4,210,000
|
Broadcom, Inc., 2.600%, 2/15/2033(a)
|
3,139,330
|
11,996,000
|
Broadcom, Inc., 3.137%, 11/15/2035(a)
|
8,746,064
|
9,915,000
|
Broadcom, Inc., 3.187%, 11/15/2036(a)
|
7,118,851
|
Principal
Amount
|
Description
|
Value (†)
|
|
||
|
Technology — continued
|
|
$7,555,000
|
Broadcom, Inc., 3.419%, 4/15/2033(a)
|
$6,042,916
|
6,925,000
|
Broadcom, Inc., 3.469%, 4/15/2034(a)
|
5,438,973
|
8,265,000
|
Broadcom, Inc., 4.150%, 11/15/2030
|
7,320,579
|
3,685,000
|
Broadcom, Inc., 4.150%, 4/15/2032(a)
|
3,197,895
|
40,885,000
|
Broadcom, Inc., 4.300%, 11/15/2032
|
35,669,674
|
2,755,000
|
CDW LLC/CDW Finance Corp.,
2.670%, 12/01/2026
|
2,484,749
|
4,190,000
|
CDW LLC/CDW Finance Corp., 3.250%, 2/15/2029
|
3,572,771
|
20,662,000
|
CDW LLC/CDW Finance Corp.,
3.276%, 12/01/2028
|
17,826,554
|
37,365,000
|
CDW LLC/CDW Finance Corp.,
3.569%, 12/01/2031
|
30,775,309
|
10,970,000
|
CDW LLC/CDW Finance Corp., 4.250%, 4/01/2028
|
9,999,374
|
1,620,000
|
CommScope Technologies LLC,
5.000%, 3/15/2027(a)
|
919,431
|
3,095,000
|
CommScope, Inc., 4.750%, 9/01/2029(a)
|
2,276,510
|
3,900,000
|
CommScope, Inc., 6.000%, 3/01/2026(a)
|
3,639,593
|
5,825,000
|
CommScope, Inc., 7.125%, 7/01/2028(a)
|
3,485,156
|
4,210,000
|
Dell International LLC/EMC Corp.,
5.750%, 2/01/2033
|
4,090,537
|
30,015,000
|
Entegris Escrow Corp., 4.750%, 4/15/2029(a)
|
26,983,734
|
10,115,000
|
Equinix, Inc., 2.150%, 7/15/2030
|
7,944,641
|
17,195,000
|
Equinix, Inc., 3.200%, 11/18/2029
|
14,724,706
|
34,695,000
|
Fiserv, Inc., 5.625%, 8/21/2033
|
33,617,508
|
5,730,000
|
Flex Ltd., 6.000%, 1/15/2028
|
5,700,822
|
1,680,000
|
Gartner, Inc., 3.625%, 6/15/2029(a)
|
1,437,194
|
9,873,000
|
Global Payments, Inc., 2.900%, 5/15/2030
|
8,094,148
|
10,714,000
|
Global Payments, Inc., 2.900%, 11/15/2031
|
8,404,826
|
3,705,000
|
Global Payments, Inc., 5.300%, 8/15/2029
|
3,533,258
|
8,125,000
|
Global Payments, Inc., 5.400%, 8/15/2032
|
7,615,984
|
5,320,000
|
Jabil, Inc., 1.700%, 4/15/2026
|
4,779,102
|
4,610,000
|
Jabil, Inc., 3.000%, 1/15/2031
|
3,735,206
|
16,735,000
|
KLA Corp., 5.650%, 11/01/2034
|
16,463,742
|
6,085,000
|
Leidos, Inc., 2.300%, 2/15/2031
|
4,679,535
|
20,118,000
|
Leidos, Inc., 5.750%, 3/15/2033
|
19,280,295
|
7,480,000
|
Marvell Technology, Inc., 2.450%, 4/15/2028
|
6,461,279
|
6,390,000
|
Marvell Technology, Inc., 2.950%, 4/15/2031
|
5,169,646
|
2,330,000
|
Marvell Technology, Inc., 5.950%, 9/15/2033
|
2,286,924
|
11,425,000
|
Microchip Technology, Inc., 0.983%, 9/01/2024
|
10,906,436
|
14,735,000
|
Micron Technology, Inc., 2.703%, 4/15/2032
|
11,253,293
|
25,479,000
|
Micron Technology, Inc., 4.663%, 2/15/2030
|
23,186,539
|
10,622,000
|
Micron Technology, Inc., 5.327%, 2/06/2029
|
10,237,391
|
12,445,000
|
Micron Technology, Inc., 5.875%, 2/09/2033
|
11,888,235
|
37,860,000
|
Micron Technology, Inc., 5.875%, 9/15/2033
|
36,059,932
|
4,135,000
|
Motorola Solutions, Inc., 5.600%, 6/01/2032
|
3,955,772
|
5,085,000
|
Open Text Corp., 6.900%, 12/01/2027(a)
|
5,096,573
|
4,780,000
|
Oracle Corp., 2.950%, 4/01/2030
|
4,022,305
|
25,480,000
|
Oracle Corp., 3.600%, 4/01/2050
|
16,481,802
|
6,765,000
|
Oracle Corp., 6.150%, 11/09/2029
|
6,867,513
|
10,585,000
|
Oracle Corp., 6.250%, 11/09/2032
|
10,715,751
|
4,402,000
|
S&P Global, Inc., 4.250%, 5/01/2029
|
4,155,560
|
8,685,000
|
S&P Global, Inc., 5.250%, 9/15/2033(a)
|
8,465,532
|
1,740,000
|
Seagate HDD Cayman, 4.091%, 6/01/2029
|
1,500,437
|
3,400,000
|
Sensata Technologies, Inc., 3.750%, 2/15/2031(a)
|
2,751,705
|
4,648,000
|
Sensata Technologies, Inc., 4.375%, 2/15/2030(a)
|
4,013,574
|
3,555,000
|
SK Hynix, Inc., 6.375%, 1/17/2028(a)
|
3,548,783
|
1,770,000
|
Skyworks Solutions, Inc., 1.800%, 6/01/2026
|
1,575,639
|
970,000
|
SS&C Technologies, Inc., 5.500%, 9/30/2027(a)
|
915,331
|
13,665,000
|
TD SYNNEX Corp., 1.750%, 8/09/2026
|
12,008,343
|
18,490,000
|
Trimble, Inc., 6.100%, 3/15/2033
|
18,115,174
|
9,135,000
|
Verisk Analytics, Inc., 4.125%, 3/15/2029
|
8,503,263
|
9,945,000
|
Verisk Analytics, Inc., 5.750%, 4/01/2033
|
9,889,223
|
Principal
Amount
|
Description
|
Value (†)
|
|
||
|
Technology — continued
|
|
$2,875,000
|
VMware, Inc., 2.200%, 8/15/2031
|
$2,169,565
|
5,450,000
|
Western Digital Corp., 2.850%, 2/01/2029
|
4,375,479
|
8,330,000
|
Western Digital Corp., 4.750%, 2/15/2026
|
7,937,226
|
|
|
584,851,559
|
|
Transportation Services — 0.4%
|
|
17,545,000
|
ERAC USA Finance LLC, 4.900%, 5/01/2033(a)
|
16,519,690
|
16,610,000
|
Penske Truck Leasing Co. LP/PTL Finance Corp.,
6.050%, 8/01/2028(a)
|
16,401,642
|
|
|
32,921,332
|
|
Treasuries — 6.1%
|
|
116,070,000
|
U.S. Treasury Bonds, 2.000%, 11/15/2041
|
75,323,082
|
170,890,000
|
U.S. Treasury Bonds, 2.250%, 2/15/2052
|
104,870,387
|
218,545,000
|
U.S. Treasury Bonds, 3.250%, 5/15/2042
|
174,153,047
|
199,245,000
|
U.S. Treasury Notes, 4.625%, 6/30/2025
|
197,540,521
|
|
|
551,887,037
|
|
Wireless — 1.9%
|
|
36,125,000
|
American Tower Corp., 5.500%, 3/15/2028
|
35,441,789
|
15,805,000
|
American Tower Corp., 5.900%, 11/15/2033
|
15,430,593
|
4,670,000
|
Crown Castle, Inc., 5.100%, 5/01/2033
|
4,317,631
|
610,000
|
Sprint Capital Corp., 6.875%, 11/15/2028
|
629,823
|
23,985,000
|
Sprint Capital Corp., 8.750%, 3/15/2032
|
27,746,951
|
1,960,000
|
T-Mobile USA, Inc., 2.400%, 3/15/2029
|
1,649,274
|
8,560,000
|
T-Mobile USA, Inc., 2.700%, 3/15/2032
|
6,695,941
|
15,320,000
|
T-Mobile USA, Inc., 3.375%, 4/15/2029
|
13,474,547
|
7,565,000
|
T-Mobile USA, Inc., 3.500%, 4/15/2031
|
6,396,732
|
52,295,000
|
T-Mobile USA, Inc., 3.875%, 4/15/2030
|
46,331,851
|
10,410,000
|
T-Mobile USA, Inc., 5.750%, 1/15/2034
|
10,155,185
|
|
|
168,270,317
|
|
Wirelines — 0.1%
|
|
857,000
|
Level 3 Financing, Inc., 4.625%, 9/15/2027(a)
|
616,326
|
5,200,000
|
Verizon Communications, Inc., 2.355%, 3/15/2032
|
3,967,384
|
|
|
4,583,710
|
|
Total Non-Convertible Bonds
(Identified Cost $7,113,688,170)
|
6,500,127,189
|
|
||
|
||
Convertible Bonds — 1.4%
|
||
|
Airlines — 0.1%
|
|
9,180,000
|
Southwest Airlines Co., 1.250%, 5/01/2025
|
9,111,150
|
|
Cable Satellite — 0.3%
|
|
9,050,000
|
DISH Network Corp., 2.375%, 3/15/2024
|
8,688,000
|
35,520,000
|
DISH Network Corp., 3.375%, 8/15/2026
|
21,347,520
|
4,115,000
|
DISH Network Corp., Zero Coupon,
6.944%–9.514%, 12/15/2025(f)
|
2,772,234
|
|
|
32,807,754
|
|
Consumer Cyclical Services — 0.1%
|
|
8,630,000
|
Uber Technologies, Inc., Zero Coupon,
0.000%–4.509%, 12/15/2025(f)
|
8,058,780
|
|
Electric — 0.2%
|
|
20,265,000
|
PPL Capital Funding, Inc., 2.875%, 3/15/2028(a)
|
18,441,150
|
|
Healthcare — 0.2%
|
|
26,530,000
|
Teladoc Health, Inc., 1.250%, 6/01/2027
|
21,141,757
|
|
Pharmaceuticals — 0.4%
|
|
5,120,000
|
BioMarin Pharmaceutical, Inc.,
0.599%, 8/01/2024
|
4,966,400
|
26,675,000
|
BioMarin Pharmaceutical, Inc.,
1.250%, 5/15/2027
|
26,424,255
|
2,935,000
|
Livongo Health, Inc., 0.875%, 6/01/2025
|
2,680,536
|
|
|
34,071,191
|
Principal
Amount
|
Description
|
Value (†)
|
|
||
|
Retailers — 0.1%
|
|
$1,440,000
|
Etsy, Inc., 0.125%, 9/01/2027
|
$1,152,000
|
8,815,000
|
Etsy, Inc., 0.250%, 6/15/2028
|
6,659,733
|
|
|
7,811,733
|
|
Total Convertible Bonds
(Identified Cost $151,878,890)
|
131,443,515
|
|
||
|
||
Municipals — 0.1%
|
||
|
Virginia — 0.1%
|
|
6,960,000
|
Tobacco Settlement Financing Corp.,
6.706%, 6/01/2046
(Identified Cost $6,709,376)
|
5,760,065
|
|
Total Bonds and Notes
(Identified Cost $7,272,276,436)
|
6,637,330,769
|
|
||
|
||
Collateralized Loan Obligations — 3.5%
|
||
3,285,000
|
522 Funding CLO Ltd., Series 2018-3A, Class AR,
3 mo. USD SOFR + 1.302%,
6.628%, 10/20/2031(a)(c)
|
3,262,790
|
1,585,000
|
522 Funding CLO Ltd., Series 2021-7A, Class D,
3 mo. USD SOFR + 3.162%,
8.507%, 4/23/2034(a)(c)
|
1,485,468
|
5,565,000
|
AGL CLO 5 Ltd., Series 2020-5A, Class BR, 3 mo.
USD SOFR + 1.962%, 7.288%, 7/20/2034(a)(c)
|
5,506,595
|
2,505,000
|
AIMCO CLO 12 Ltd., Series 2020-12A, Class AR,
3 mo. USD SOFR + 1.170%,
6.478%, 1/17/2032(a)(c)
|
2,490,922
|
14,785,000
|
Alinea CLO Ltd., Series 2018-1A, Class B, 3 mo.
USD SOFR + 1.912%, 7.238%, 7/20/2031(a)(c)
|
14,669,396
|
4,650,000
|
Allegro CLO VIII Ltd., Series 2018-2A, Class B1,
3 mo. USD SOFR + 1.932%,
7.240%, 7/15/2031(a)(c)
|
4,584,872
|
7,655,000
|
Anchorage Capital CLO 9 Ltd., Series 2016-9A,
Class AR2, 3 mo. USD SOFR + 1.402%,
6.710%, 7/15/2032(a)(c)
|
7,607,248
|
3,520,000
|
ARES Loan Funding I Ltd., Series 2021-ALFA,
Class D, 3 mo. USD SOFR + 3.262%,
8.570%, 10/15/2034(a)(c)
|
3,367,049
|
4,075,000
|
ARES XXXVII CLO Ltd., Series 2015-4A,
Class A3R, 3 mo. USD SOFR + 1.762%,
7.070%, 10/15/2030(a)(c)
|
4,016,524
|
1,651,667
|
Atrium XV, Series 15A, Class D, 3 mo. USD SOFR
+ 3.262%, 8.607%, 1/23/2031(a)(c)
|
1,616,488
|
1,170,000
|
Ballyrock CLO Ltd., Series 2019-2A, Class A2R,
3 mo. USD SOFR + 1.662%,
7.041%, 11/20/2030(a)(c)
|
1,155,189
|
5,320,000
|
Battalion CLO VIII Ltd., Series 2015-8A,
Class A2R2, 3 mo. USD SOFR + 1.812%,
7.122%, 7/18/2030(a)(c)
|
5,254,458
|
2,525,000
|
Canyon CLO Ltd., Series 2018-1A, Class B, 3 mo.
USD SOFR + 1.962%, 7.270%, 7/15/2031(a)(c)
|
2,495,728
|
3,920,000
|
Canyon CLO Ltd., Series 2021-4A, Class B, 3 mo.
USD SOFR + 1.962%, 7.270%, 10/15/2034(a)(c)
|
3,839,248
|
7,170,000
|
Carlyle U.S. CLO Ltd., Series 2021-9A, Class B,
3 mo. USD SOFR + 1.912%,
7.238%, 10/20/2034(a)(c)
|
7,032,358
|
6,500,000
|
CIFC Funding Ltd., Series 2014-5A, Class BR2,
3 mo. USD SOFR + 2.062%,
7.370%, 10/17/2031(a)(c)
|
6,455,930
|
2,535,000
|
CIFC Funding Ltd., Series 2017-1A, Class B, 3 mo.
USD SOFR + 1.962%, 7.295%, 4/23/2029(a)(c)
|
2,527,154
|
Principal
Amount
|
Description
|
Value (†)
|
|
||
$4,415,000
|
CIFC Funding Ltd., Series 2021-6A, Class B, 3 mo.
USD SOFR + 1.912%, 7.220%, 10/15/2034(a)(c)
|
$4,337,446
|
8,720,000
|
Clover CLO LLC, Series 2018-1A, Class A1R,
3 mo. USD SOFR + 1.382%,
6.708%, 4/20/2032(a)(c)
|
8,698,863
|
3,620,000
|
Clover CLO LLC, Series 2021-2A, Class A, 3 mo.
USD SOFR + 1.432%, 6.758%, 7/20/2034(a)(c)
|
3,590,888
|
3,335,000
|
Dryden 53 CLO Ltd., Series 2017-53A, Class B,
3 mo. USD SOFR + 1.662%,
6.970%, 1/15/2031(a)(c)
|
3,282,917
|
1,250,000
|
Galaxy XXV CLO Ltd., Series 2018-25A, Class B,
3 mo. USD SOFR + 1.912%,
7.263%, 10/25/2031(a)(c)
|
1,233,068
|
4,465,000
|
Galaxy XXVI CLO Ltd., Series 2018-26A, Class B,
3 mo. USD SOFR + 1.962%,
7.345%, 11/22/2031(a)(c)
|
4,407,491
|
5,405,000
|
GoldenTree Loan Management U.S. CLO 3 Ltd.,
Series 2018-3A, Class B1, 3 mo. USD SOFR +
1.812%, 7.138%, 4/20/2030(a)(c)
|
5,345,902
|
3,990,000
|
Golub Capital Partners CLO 41B-R Ltd.,
Series 2019-41A, Class AR, 3 mo. USD SOFR +
1.582%, 6.908%, 1/20/2034(a)(c)
|
3,984,905
|
13,735,000
|
Hayfin U.S. XII Ltd., Series 2018-8A, Class B,
3 mo. USD SOFR + 1.742%,
7.068%, 4/20/2031(a)(c)
|
13,482,427
|
3,545,000
|
Invesco CLO Ltd., Series 2021-1A, Class D, 3 mo.
USD SOFR + 3.312%, 8.620%, 4/15/2034(a)(c)
|
3,421,584
|
13,180,000
|
Madison Park Funding XIV Ltd., Series 2014-14A,
Class BRR, 3 mo. USD SOFR + 1.962%,
7.307%, 10/22/2030(a)(c)
|
13,037,379
|
9,393,998
|
Madison Park Funding XXV Ltd.,
Series 2017-25A, Class A1R, 3 mo. USD SOFR +
1.232%, 6.583%, 4/25/2029(a)(c)
|
9,344,896
|
4,410,000
|
Madison Park Funding XXXVII Ltd.,
Series 2019-37A, Class AR, 3 mo. USD SOFR +
1.332%, 6.640%, 7/15/2033(a)(c)
|
4,392,250
|
2,945,000
|
Magnetite XIV-R Ltd., Series 2015-14RA, Class B,
3 mo. USD SOFR + 1.862%,
7.172%, 10/18/2031(a)(c)
|
2,904,842
|
6,060,000
|
Magnetite XV Ltd., Series 2015-15A, Class AR,
3 mo. USD SOFR + 1.272%,
6.623%, 7/25/2031(a)(c)
|
6,039,196
|
13,895,000
|
Morgan Stanley Eaton Vance CLO Ltd.,
Series 2022-16A, Class B, 3 mo. USD SOFR +
1.950%, 7.258%, 4/15/2035(a)(c)
|
13,586,531
|
545,455
|
Neuberger Berman CLO XVIII Ltd.,
Series 2014-18A, Class A2R2, 3 mo. USD SOFR +
1.962%, 7.295%, 10/21/2030(a)(c)
|
538,253
|
2,105,000
|
Neuberger Berman CLO XVI-S Ltd.,
Series 2017-16SA, Class DR, 3 mo. USD SOFR +
3.162%, 8.470%, 4/15/2034(a)(c)
|
1,999,699
|
4,395,000
|
Neuberger Berman Loan Advisers CLO 45 Ltd.,
Series 2021-45A, Class A, 3 mo. USD SOFR +
1.392%, 6.703%, 10/14/2035(a)(c)
|
4,356,267
|
6,205,000
|
OCP CLO Ltd., Series 2016-12A, Class BR2, 3 mo.
USD SOFR + 1.810%, 7.120%, 4/18/2033(a)(c)
|
6,099,515
|
14,755,000
|
OCP CLO Ltd., Series 2020-8RA, Class A2, 3 mo.
USD SOFR + 1.812%, 7.120%, 1/17/2032(a)(c)
|
14,636,119
|
7,170,000
|
Octagon Investment Partners 18-R Ltd.,
Series 2018-18A, Class A2, 3 mo. USD SOFR +
1.732%, 7.040%, 4/16/2031(a)(c)
|
7,078,819
|
2,000,000
|
Octagon Investment Partners 26 Ltd.,
Series 2016-1A, Class BR, 3 mo. USD SOFR +
1.862%, 7.170%, 7/15/2030(a)(c)
|
1,967,282
|
Principal
Amount
|
Description
|
Value (†)
|
|
||
$1,986,282
|
Octagon Investment Partners 28 Ltd.,
Series 2016-1A, Class BR, 3 mo. USD SOFR +
2.062%, 7.407%, 10/24/2030(a)(c)
|
$1,961,364
|
4,155,000
|
Octagon Investment Partners 46 Ltd.,
Series 2020-2A, Class DR, 3 mo. USD SOFR +
3.562%, 8.870%, 7/15/2036(a)(c)
|
3,829,410
|
8,760,796
|
Octagon Investment Partners XV Ltd.,
Series 2013-1A, Class A1RR, 3 mo. USD SOFR +
1.232%, 6.552%, 7/19/2030(a)(c)
|
8,722,266
|
10,050,000
|
OHA Credit Partners XVI, Series 2021-16A,
Class A, 3 mo. USD SOFR + 1.412%,
6.722%, 10/18/2034(a)(c)
|
10,023,960
|
1,440,000
|
Palmer Square CLO Ltd., Series 2015-1A,
Class A2R4, 3 mo. USD SOFR + 1.962%,
7.341%, 5/21/2034(a)(c)
|
1,423,568
|
8,844,000
|
Palmer Square CLO Ltd., Series 2021-2A,
Class A, 3 mo. USD SOFR + 1.412%,
6.720%, 7/15/2034(a)(c)
|
8,799,161
|
3,355,358
|
Palmer Square Loan Funding Ltd.,
Series 2021-3A, Class A1, 3 mo. USD SOFR +
1.062%, 6.388%, 7/20/2029(a)(c)
|
3,339,850
|
12,875,000
|
Post CLO Ltd., Series 2022-1A, Class B, 3 mo.
USD SOFR + 1.900%, 7.226%, 4/20/2035(a)(c)
|
12,567,184
|
19,620,000
|
Post CLO Ltd., Series 2023-1A, Class A, 3 mo.
USD SOFR + 1.950%, 6.829%, 4/20/2036(a)(c)
|
19,671,973
|
4,310,000
|
Rad CLO 15 Ltd., Series 2021-15A, Class B, 3 mo.
USD SOFR + 1.912%, 7.238%, 1/20/2034(a)(c)
|
4,230,446
|
1,730,000
|
Recette CLO Ltd., Series 2015-1A, Class BRR,
3 mo. USD SOFR + 1.662%,
6.988%, 4/20/2034(a)(c)
|
1,698,168
|
1,015,000
|
Regatta XV Funding Ltd., Series 2018-4A,
Class A2, 3 mo. USD SOFR + 2.112%,
7.463%, 10/25/2031(a)(c)
|
1,003,847
|
6,680,000
|
Rockford Tower CLO Ltd., Series 2017-1A,
Class DR2A, 3 mo. USD SOFR + 3.512%,
8.838%, 4/20/2034(a)(c)
|
6,463,314
|
2,535,710
|
Venture XXIX CLO Ltd., Series 2017-29A,
Class AR, 3 mo. USD SOFR + 1.252%,
6.616%, 9/07/2030(a)(c)
|
2,520,168
|
1,830,000
|
Vibrant CLO XIV Ltd., Series 2021-14A, Class C,
3 mo. USD SOFR + 4.012%,
9.338%, 10/20/2034(a)(c)
|
1,798,668
|
3,335,000
|
Voya CLO Ltd., Series 2013-3A, Class A2RR, 3 mo.
USD SOFR + 1.961%, 7.271%, 10/18/2031(a)(c)
|
3,292,312
|
1,610,000
|
Voya CLO Ltd., Series 2016-3A, Class A3R, 3 mo.
USD SOFR + 2.012%, 7.322%, 10/18/2031(a)(c)
|
1,571,069
|
6,235,000
|
Voya CLO Ltd., Series 2018-3A, Class B, 3 mo.
USD SOFR + 1.912%, 7.220%, 10/15/2031(a)(c)
|
6,115,924
|
|
Total Collateralized Loan Obligations
(Identified Cost $313,527,027)
|
314,166,608
|
Shares
|
Description
|
Value (†)
|
Preferred Stocks — 0.4%
|
||
|
||
|
||
Convertible Preferred Stocks — 0.4%
|
||
|
Banking — 0.4%
|
|
13,942
|
Bank of America Corp., Series L, 7.250%
|
$15,506,432
|
15,781
|
Wells Fargo & Co., Series L, Class A, 7.500%
|
17,595,815
|
|
|
33,102,247
|
|
Total Preferred Stocks
(Identified Cost $41,714,003)
|
33,102,247
|
Principal
Amount
|
|
|
Senior Loans — 0.1%
|
||
|
Leisure — 0.1%
|
|
$2,917,727
|
Carnival Corp., 2021 Incremental Term Loan B,
1 mo. USD SOFR + 3.250%,
8.681%, 10/18/2028(c)(g)
|
2,899,492
|
3,787,422
|
Carnival Corp., 2023 Term Loan B, 1 mo. USD
SOFR + 3.000%, 8.327%, 8/08/2027(c)(g)
|
3,773,219
|
|
|
6,672,711
|
|
Technology — 0.0%
|
|
4,735,000
|
GTCR W Merger Sub LLC, USD Term Loan B,
9/20/2030(h)
|
4,731,543
|
|
Total Senior Loans
(Identified Cost $11,366,998)
|
11,404,254
|
|
||
|
Principal
Amount
|
Description
|
Value (†)
|
|
||
Short-Term Investments — 23.3%
|
||
$252,735,357
|
Tri-Party Repurchase Agreement with Fixed
Income Clearing Corporation, dated 9/29/2023 at
2.500% to be repurchased at $252,788,010
on 10/02/2023 collateralized by $259,748,800
U.S. Treasury Note, 4.375% due 8/15/2026 valued
at $257,790,097 including accrued interest(i)
|
$252,735,357
|
88,670,000
|
U.S. Treasury Bills, 4.980%, 11/16/2023(j)
|
88,083,116
|
171,660,000
|
U.S. Treasury Bills,
5.101%–5.115%, 12/14/2023(j)(k)
|
169,815,132
|
86,515,000
|
U.S. Treasury Bills, 5.170%, 12/21/2023(j)
|
85,493,450
|
331,270,000
|
U.S. Treasury Bills, 5.190%, 11/24/2023(j)
|
328,680,906
|
190,140,000
|
U.S. Treasury Bills,
5.200%–5.201%, 12/07/2023(j)(k)
|
188,287,244
|
326,990,000
|
U.S. Treasury Bills, 5.215%, 12/28/2023(j)(l)
|
322,785,998
|
287,635,000
|
U.S. Treasury Bills, 5.225%, 1/11/2024(j)
|
283,356,009
|
87,385,000
|
U.S. Treasury Bills, 5.246%, 1/04/2024(j)
|
86,174,548
|
135,110,000
|
U.S. Treasury Bills, 5.252%, 1/18/2024(j)
|
132,959,724
|
55,820,000
|
U.S. Treasury Bills, 5.305%, 3/21/2024(j)
|
54,409,164
|
115,365,000
|
U.S. Treasury Bills, 5.735%, 2/29/2024(j)
|
112,813,150
|
|
Total Short-Term Investments
(Identified Cost $2,105,725,490)
|
2,105,593,798
|
|
Total Investments — 100.9%
(Identified Cost $9,744,609,954)
|
9,101,597,676
|
|
Other assets less liabilities — (0.9)%
|
(83,522,318
)
|
|
Net Assets — 100.0%
|
$9,018,075,358
|
(†)
|
Registered investment companies are required to value portfolio investments using an unadjusted, readily available market
quotation. The Fund obtains
readily available market quotations from independent pricing services. Fund investments for which readily available market
quotations are not available
are priced at fair value pursuant to the Fund's Valuation Procedures. The Board of Trustees has approved a valuation designee
who is subject to the
Board's oversight.
Unadjusted readily available market quotations that are utilized for exchange traded equity securities (including shares of
closed-end investment
companies and exchange-traded funds) include the last sale price quoted on the exchange where the security is traded most
extensively. Futures
contracts are valued at the closing settlement price on the exchange on which the valuation designee believes that, over time,
they are traded most
extensively. Shares of open-end investment companies are valued at net asset value per share.
Exchange traded equity securities for which there is no reported sale during the day are fair valued at the closing bid quotation
as reported by an
independent pricing service. Unlisted equity securities (except unlisted preferred equity securities) are fair 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 fair
valued using evaluated bids
furnished by an independent pricing service, if available.
Debt securities and unlisted preferred equity securities are fair valued based on evaluated bids furnished to the Fund by
an independent pricing service
or bid prices obtained from broker-dealers. Senior loans and collateralized loan obligations are fair valued at bid prices
supplied by an independent
pricing service, if available. Broker-dealer bid prices may be used to fair value debt, unlisted equities, senior loans and
collateralized loan obligations
where an independent pricing service is unable to price an investment or where an independent pricing service does not provide
a reliable price for the
investment.
The Fund may also fair value investments 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 issuer's 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 a Fund's investments,
the valuation designee may,
among other things, use modeling tools or other processes that may take into account factors such as issuer specific information,
or other related
market activity and/or information that occurred after the close of the foreign market but before the time the Fund's net
asset value ("NAV") is
calculated. Fair valuation by the Fund's valuation designee may require subjective determinations about the value of the investment,
and fair values
used to determine a Fund's NAV may differ from quoted or published prices, or from prices that are used by others, for the
same investments. In
addition, the use of fair value pricing may not always result in adjustments to the prices of investments held by a Fund.
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, if any, are translated into U.S. dollars based upon foreign exchange rates prevailing
at the end of the period.
|
(a)
|
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 September 30, 2023, the value of Rule
144A holdings amounted to
$3,172,452,700 or 35.2% of net assets.
|
(b)
|
Variable rate security. The interest rate adjusts periodically based on; (i) changes in current interest rates and/or prepayments
on underlying pools of
assets, if applicable, (ii) reference to a base lending rate plus or minus a margin, and/or (iii) reference to a base lending
rate adjusted by a multiplier
and/or subject to certain floors or caps. Rate as of September 30, 2023 is disclosed.
|
(c)
|
Variable rate security. Rate as of September 30, 2023 is disclosed.
|
(d)
|
The issuer is in default with respect to interest and/or principal payments. Income is not being accrued.
|
(e)
|
Non-income producing security.
|
(f)
|
Interest rate represents annualized yield at time of purchase; not a coupon rate. The Fund’s investment in this security is comprised of various lots with
differing annualized yields.
|
(g)
|
Stated interest rate has been determined in accordance with the provisions of the loan agreement and is subject to a minimum
benchmark floor rate of
0.75%, to which the spread is added.
|
(h)
|
Position is unsettled. Contract rate was not determined at September 30, 2023 and does not take effect until settlement date.
Maturity date is not
finalized until settlement date.
|
(i)
|
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 Fund's 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
Fund's ability to dispose of the underlying securities. As of September 30, 2023, the Fund had an investment in a repurchase
agreement for which the
value of the related collateral exceeded the value of the repurchase agreement.
|
(j)
|
Interest rate represents discount rate at time of purchase; not a coupon rate.
|
(k)
|
The Fund's investment in U.S. Government/Agency securities is comprised of various lots with differing discount rates. These
separate investments,
which have the same maturity date, have been aggregated for the purpose of presentation in the Portfolio of Investments.
|
(l)
|
Security (or a portion thereof) has been pledged as collateral for open derivative contracts.
|
ABS
|
Asset-Backed Securities
|
MTN
|
Medium Term Note
|
REITs
|
Real Estate Investment Trusts
|
REMIC
|
Real Estate Mortgage Investment Conduit
|
SLM
|
Sallie Mae
|
SOFR
|
Secured Overnight Financing Rate
|
At September 30, 2023, open long futures contracts were as follows:
|
|||||
Financial Futures
|
Expiration
Date
|
Contracts
|
Notional
Amount
|
Value
|
Unrealized
Appreciation
(Depreciation)
|
CBOT 10 Year U.S. Treasury Notes Futures
|
12/19/2023
|
11,585
|
$1,276,490,063
|
$1,251,904,063
|
$(24,586,000
)
|
CBOT 2 Year U.S. Treasury Notes Futures
|
12/29/2023
|
7,665
|
1,557,701,348
|
1,553,779,340
|
(3,922,008
)
|
CBOT 5 Year U.S. Treasury Notes Futures
|
12/29/2023
|
11,666
|
1,239,882,797
|
1,229,122,469
|
(10,760,328
)
|
CBOT U.S. Long Bond Futures
|
12/19/2023
|
15,165
|
1,817,232,942
|
1,725,492,656
|
(91,740,286
)
|
Total
|
|
|
|
|
$(131,008,622
)
|
At September 30, 2023, open short futures contracts were as follows:
|
|||||
Financial Futures
|
Expiration
Date
|
Contracts
|
Notional
Amount
|
Value
|
Unrealized
Appreciation
(Depreciation)
|
CME Ultra Long Term U.S. Treasury Bond Futures
|
12/19/2023
|
5,051
|
$636,415,920
|
$599,490,563
|
$36,925,357
|
Ultra 10 Year U.S. Treasury Notes Futures
|
12/19/2023
|
9,764
|
1,118,964,071
|
1,089,296,250
|
29,667,821
|
Total
|
|
|
|
|
$66,593,178
|
Asset Valuation Inputs
|
||||
Description
|
Level 1
|
Level 2
|
Level 3
|
Total
|
Bonds and Notes(a)
|
$—
|
$6,637,330,769
|
$—
|
$6,637,330,769
|
Collateralized Loan Obligations
|
—
|
314,166,608
|
—
|
314,166,608
|
Preferred Stocks(a)
|
33,102,247
|
—
|
—
|
33,102,247
|
Senior Loans(a)
|
—
|
11,404,254
|
—
|
11,404,254
|
Short-Term Investments
|
—
|
2,105,593,798
|
—
|
2,105,593,798
|
Total Investments
|
33,102,247
|
9,068,495,429
|
—
|
9,101,597,676
|
Futures Contracts (unrealized appreciation)
|
66,593,178
|
—
|
—
|
66,593,178
|
Total
|
$99,695,425
|
$9,068,495,429
|
$—
|
$9,168,190,854
|
Liability Valuation Inputs
|
||||
Description
|
Level 1
|
Level 2
|
Level 3
|
Total
|
Futures Contracts (unrealized depreciation)
|
$(131,008,622
)
|
$—
|
$—
|
$(131,008,622
)
|
(a)
|
Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments.
|
Assets
|
Unrealized
appreciation
on futures
contracts
|
Exchange-traded asset derivatives
|
|
Interest rate contracts
|
$66,593,178
|
Liabilities
|
Unrealized
depreciation
on futures
contracts
|
Exchange-traded liability derivatives
|
|
Interest rate contracts
|
$(131,008,622
)
|
Industry Summary at September 30, 2023 (Unaudited)
|
|
Banking
|
11.2%
|
Technology
|
6.5
|
Treasuries
|
6.1
|
Finance Companies
|
4.2
|
ABS Home Equity
|
3.8
|
Metals & Mining
|
3.7
|
ABS Car Loan
|
3.6
|
Independent Energy
|
2.8
|
Midstream
|
2.8
|
ABS Other
|
2.6
|
Other Investments, less than 2% each
|
26.8
|
Collateralized Loan Obligations
|
3.5
|
Short-Term Investments
|
23.3
|
Total Investments
|
100.9
|
Other assets less liabilities (including futures contracts)
|
(0.9)
|
Net Assets
|
100.0%
|