Principal Amount† | | Borrower/Tranche Description | Fair Value | Percentage of Net Assets |
LOANS*: 95.6% | |
| | Aerospace & Defense: 1.7% |
782,813 | | ADS Tactical, Inc. 2021 Term Loan B, 7.345%, (US0001M + 5.750%), 03/19/26 | $ | 720,188 | 0.2 |
2,374,935 | | Geo Group, Inc. (The) 2018 Term Loan B, 3.670%, (US0001M + 2.000%), 03/22/24 | 2,235,222 | 0.5 |
457,255 | | KBR, Inc. 2020 Term Loan B, 4.416%, (US0001M + 2.750%), 02/05/27 | 455,160 | 0.1 |
3,272,442 | | Peraton Corp. Term Loan B, 5.416%, (US0001M + 3.750%), 02/01/28 | 3,082,231 | 0.7 |
560,000 | | Setanta Aircraft Leasing Designated Activity Compa Term Loan B, 4.250%, (US0003M + 2.000%), 11/05/28 | 534,380 | 0.1 |
463,838 | | Vertex Aerospace Services Corp. 2021 First Lien Term Loan, 5.666%, (US0001M + 4.000%), 12/06/28 | 444,994 | 0.1 |
| | | 7,472,175 | 1.7 |
| | | | |
| | Air Transport: 0.3% |
1,236,819 | | United Airlines, Inc. 2021 Term Loan B, 5.392%, (US0001M + 3.750%), 04/21/28 | 1,150,860 | 0.3 |
| | | | |
| | Auto Components: 0.4% |
880,000 | | BBB Industries LLC 2022 Term Loan, 2.787%, (US0001M + 1.000%), 07/25/25 | 792,000 | 0.2 |
893,250 | | Broadstreet Partners, Inc. 2021 Term Loan B2, 4.916%, (US0001M + 3.250%), 01/27/27 | 844,121 | 0.2 |
| | | 1,636,121 | 0.4 |
| | | | |
| | Automotive: 3.2% |
1,342,194 | | Autokiniton US Holdings, Inc. 2021 Term Loan B, 5.620%, (US0003M + 4.500%), 04/06/28 | 1,244,885 | 0.3 |
1,720,688 | | Avis Budget Car Rental, LLC 2022 Term Loan C, 5.125%, (SOFRRATE + 3.500%), 03/16/29 | 1,651,860 | 0.4 |
500,000 | | Bright Bidco B.V. 2018 Term Loan B, 4.970%, (US0006M + 3.500%), 06/30/24 | 220,000 | 0.0 |
1,077,166 | | Dealer Tire, LLC 2020 Term Loan B, 5.916%, (US0001M + 4.250%), 12/12/25 | 1,032,060 | 0.2 |
1,280,971 | | Gates Global LLC 2021 Term Loan B3, 4.166%, (US0001M + 2.500%), 03/31/27 | 1,212,119 | 0.3 |
909,034 | | Hertz Corporation, (The) 2021 Term Loan B, 4.920%, (US0001M + 3.250%), 06/30/28 | 857,674 | 0.2 |
173,048 | | Hertz Corporation, (The) 2021 Term Loan C, 4.920%, (US0001M + 3.250%), 06/30/28 | 163,271 | 0.0 |
703,606 | | Holley Purchaser, Inc. 2021 Term Loan, 5.205%, (US0003M + 3.750%), 11/17/28 | 666,083 | 0.1 |
1,367,847 | | Les Schwab Tire Centers Term Loan B, 4.000%, (US0003M + 3.250%), 11/02/27 | 1,286,916 | 0.3 |
733,234 | | Mister Car Wash Holdings, Inc. 2019 Term Loan B, 4.666%, (US0001M + 3.000%), 05/14/26 | 695,885 | 0.2 |
425,000 | | Rough Country, LLC 2021 2nd Lien Term Loan, 8.750%, (US0003M + 6.500%), 07/26/29 | 409,062 | 0.1 |
488,813 | | Rough Country, LLC 2021 Term Loan, 5.750%, (US0003M + 3.500%), 07/28/28 | 469,260 | 0.1 |
793,830 | | Tenneco, Inc. 2018 Term Loan B, 4.666%, (US0001M + 3.000%), 10/01/25 | 764,062 | 0.2 |
1,255,991 | | Truck Hero, Inc. 2021 Term Loan B, 5.166%, (US0001M + 3.500%), 01/31/28 | 1,128,507 | 0.3 |
979,950 | | Wand NewCo 3, Inc. 2020 Term Loan, 4.666%, (US0001M + 3.000%), 02/05/26 | 912,884 | 0.2 |
1,617,775 | | Wheel Pros, LLC 2021 Term Loan, 6.095%, (US0001M + 4.500%), 05/11/28 | 1,342,753 | 0.3 |
| | | 14,057,281 | 3.2 |
| | | | |
| | Basic Materials: 0.2% |
975,000 | | Iris Holding, Inc. 2022 Term Loan 1L, 6.436%, (TSFR1M + 4.750%), 06/15/28 | 892,937 | 0.2 |
| | | | |
| | Beverage & Tobacco: 1.1% |
750,000 | | Aramark Services, Inc. 2019 Term Loan B4, 3.416%, (US0001M + 1.750%), 01/15/27 | 712,813 | 0.2 |
365,000 | | Naked Juice LLC 2nd Lien Term Loan, 8.154%, (SOFRRATE + 6.000%), 01/24/30 | 337,625 | 0.1 |
Principal Amount† | | Borrower/Tranche Description (continued) | Fair Value | Percentage of Net Assets |
LOANS*: (continued) | |
| | Beverage & Tobacco: (continued) |
615,000 | | Naked Juice LLC Term Loan, 5.403%, (SOFRRATE + 3.250%), 01/24/29 | $ | 570,989 | 0.1 |
1,313,386 | | Sunshine Investments B.V. USD Term Loan B3, 4.194%, (US0003M + 2.750%), 03/28/25 | 1,293,685 | 0.3 |
1,955,270 | | Triton Water Holdings, Inc Term Loan, 5.750%, (US0003M + 3.500%), 03/31/28 | 1,746,708 | 0.4 |
| | | 4,661,820 | 1.1 |
| | | | |
| | Brokers, Dealers & Investment Houses: 0.3% |
1,170,286 | | Forest City Enterprises, L.P. 2019 Term Loan B, 5.166%, (US0001M + 3.500%), 12/08/25 | 1,119,451 | 0.3 |
| | | | |
| | Building & Development: 4.0% |
495,000 | | ACProducts, Inc. 2021 Term Loan B, 6.970%, (US0006M + 4.250%), 05/17/28 | 385,791 | 0.1 |
367,225 | | Aegion Corporation Term Loan, 6.273%, (US0001M + 4.750%), 05/17/28 | 336,929 | 0.1 |
1,241,837 | | Applecaramel Buyer, LLC Term Loan B, 5.275%, (SOFRRATE + 3.750%), 10/19/27 | 1,144,819 | 0.3 |
1,482,550 | | Chamberlain Group Inc Term Loan B, 4.506%, (US0001M + 3.500%), 11/03/28 | 1,351,592 | 0.3 |
746,241 | | Core & Main LP 2021 Term Loan B, 4.124%, (US0001M + 2.500%), 07/27/28 | 711,727 | 0.2 |
2,409,500 | | Cornerstone Building Brands, Inc. 2021 Term Loan B, 4.574%, (US0001M + 3.250%), 04/12/28 | 2,010,426 | 0.5 |
951,163 | | CP Atlas Buyer, Inc. 2021 Term Loan B, 5.416%, (US0001M + 3.750%), 11/23/27 | 836,072 | 0.2 |
1,195,393 | | Empire Today, LLC 2021 Term Loan B, 5.750%, (US0003M + 5.000%), 04/03/28 | 934,399 | 0.2 |
912,713 | | Foley Products Company, LLC 2021 Term Loan, 6.954%, (SOFRRATE + 4.750%), 12/29/28 | 868,218 | 0.2 |
856,350 | | Foundation Building Materials Holding Company LLC 2021 Term Loan, 4.489%, (US0003M + 3.250%), 01/31/28 | 769,644 | 0.2 |
106,667 | (1) | IPS Corporation 2021 Delayed Draw Term Loan, 3.923%, (US0003M + 3.500%), 10/02/28 | 98,489 | 0.0 |
532,000 | | IPS Corporation 2021 Term Loan, 5.166%, (US0001M + 3.500%), 10/02/28 | 491,213 | 0.1 |
272,927 | | Kodiak Building Partners Inc. Term Loan B, 5.500%, (US0003M + 3.250%), 03/12/28 | 237,447 | 0.1 |
678,300 | | Latham Pool Products, Inc. 2022 Term Loan B, 4.540%, (SOFRRATE + 3.750%), 02/23/29 | 653,712 | 0.1 |
1,782,834 | | LBM Acquisition LLC Term Loan B, 5.416%, (US0001M + 3.750%), 12/17/27 | 1,471,208 | 0.3 |
917,700 | | Leaf Home Solutions LLC 2022 Term Loan B, 6.375%, (SOFRRATE + 4.750%), 02/16/29 | 832,813 | 0.2 |
552,932 | | Northstar Group Services, INC. 2020 Term Loan B, 7.166%, (US0001M + 5.500%), 11/12/26 | 532,888 | 0.1 |
770,000 | | Smyrna Ready Mix Concrete, LLC Term Loan B, 5.875%, (TSFR1M + 4.250%), 04/02/29 | 712,250 | 0.2 |
1,197,000 | | Specialty Building Products Holdings, LLC 2021 Term Loan B, 5.345%, (US0001M + 3.750%), 10/15/28 | 1,065,330 | 0.2 |
651,943 | | SRS Distribution Inc. 2021 Term Loan B, 4.250%, (US0003M + 3.500%), 06/02/28 | 599,788 | 0.1 |
1,330,849 | | Standard Industries Inc. 2021 Term Loan B, 3.788%, (US0006M + 2.500%), 09/22/28 | 1,291,663 | 0.3 |
| | | 17,336,418 | 4.0 |
| | | | |
| | Business Equipment & Services: 8.5% |
526,470 | | 24-7 Intouch Inc 2018 Term Loan, 6.416%, (US0001M + 4.750%), 08/25/25 | 502,779 | 0.1 |
496,250 | | Allied Universal Holdco LLC 2021 USD Incremental Term Loan B, 5.416%, (US0001M + 3.750%), 05/12/28 | 456,963 | 0.1 |
726,350 | | Anticimex International AB 2021 USD Incremental Term Loan, 5.598%, (US0003M + 4.000%), 11/16/28 | 691,848 | 0.2 |
378,100 | | Anticimex International AB 2021 USD Term Loan B1, 5.098%, (US0003M + 3.500%), 11/16/28 | 357,777 | 0.1 |
1,116,563 | | APX Group, Inc. 2021 Term Loan B, 5.016%, (US0001M + 3.500%), 07/10/28 | 1,057,245 | 0.2 |
Principal Amount† | | Borrower/Tranche Description (continued) | Fair Value | Percentage of Net Assets |
LOANS*: (continued) | |
| | Business Equipment & Services: (continued) |
1,004,950 | | Ascend Learning, LLC 2021 Term Loan, 5.166%, (US0001M + 3.500%), 12/11/28 | $ | 932,091 | 0.2 |
876,769 | | Atlas CC Acquisition Corp Term Loan B, 5.825%, (US0003M + 4.250%), 05/25/28 | 813,203 | 0.2 |
178,326 | | Atlas CC Acquisition Corp Term Loan C, 5.825%, (US0003M + 4.250%), 05/25/28 | 165,397 | 0.0 |
620,000 | | Belfor Holdings Inc. 2022 Incremental Term Loan, 5.775%, (SOFRRATE + 4.250%), 04/06/26 | 601,400 | 0.1 |
1,149,039 | | Belfor Holdings Inc. Term Loan B, 5.416%, (US0001M + 3.750%), 04/06/26 | 1,114,568 | 0.3 |
225,000 | | DG Investment Intermediate Holdings 2, Inc. 2021 2nd Lien Term Loan, 8.416%, (US0001M + 6.750%), 03/30/29 | 215,437 | 0.0 |
1,643,455 | | DG Investment Intermediate Holdings 2, Inc. 2021 Term Loan, 5.416%, (US0001M + 3.750%), 03/31/28 | 1,542,108 | 0.4 |
1,483,716 | | Endure Digital Inc. Term Loan, 4.620%, (US0001M + 3.500%), 02/10/28 | 1,342,763 | 0.3 |
1,320,025 | | Ensono, LP 2021 Term Loan, 5.666%, (US0001M + 4.000%), 05/26/28 | 1,225,423 | 0.3 |
807,975 | | EP Purchaser, LLC 2021 Term Loan B, 5.750%, (US0003M + 3.500%), 11/06/28 | 773,131 | 0.2 |
394,013 | | Escape Velocity Holdings, Inc. 2021 Term Loan, 6.500%, (US0003M + 4.250%), 10/08/28 | 376,282 | 0.1 |
93,434 | | First Advantage Holdings, LLC 2021 Term Loan B, 4.416%, (US0001M + 2.750%), 01/31/27 | 89,849 | 0.0 |
239,941 | | Garda World Security Corporation 2022 Term Loan B, 5.749%, (TSFR1M + 4.250%), 02/01/29 | 222,395 | 0.1 |
994,974 | | Gloves Buyer, Inc. 2021 Term Loan, 5.666%, (US0001M + 4.000%), 12/29/27 | 925,326 | 0.2 |
987,513 | | Indy US Bidco, LLC 2021 USD Term Loan, 5.416%, (US0001M + 3.750%), 03/05/28 | 919,209 | 0.2 |
1,136,044 | | Intrado Corporation 2017 Term Loan, 5.666%, (US0001M + 4.000%), 10/10/24 | 969,898 | 0.2 |
816,750 | | ION Trading Finance Limited 2021 USD Term Loan, 7.000%, (US0003M + 4.750%), 04/03/28 | 755,749 | 0.2 |
1,343,881 | | KUEHG Corp. 2018 Incremental Term Loan, 6.000%, (US0003M + 3.750%), 02/21/25 | 1,255,689 | 0.3 |
1,581,456 | | Milano Acquisition Corp Term Loan B, 6.250%, (US0003M + 4.000%), 10/01/27 | 1,504,360 | 0.3 |
739,164 | | Paysafe Holdings (US) Corp USD Term Loan B1, 4.416%, (US0001M + 2.750%), 06/28/28 | 676,335 | 0.2 |
771,125 | | PECF USS Intermediate Holding III Corporation Term Loan B, 5.916%, (US0001M + 4.250%), 12/15/28 | 699,218 | 0.2 |
1,343,594 | | Polaris Newco LLC USD Term Loan B, 5.666%, (US0001M + 4.000%), 06/02/28 | 1,244,713 | 0.3 |
100,000 | | Pre-Paid Legal Services, Inc. 2021 2nd Lien Term Loan, 8.666%, (US0001M + 7.000%), 12/14/29 | 94,500 | 0.0 |
1,246,875 | | Pre-Paid Legal Services, Inc. 2021 Term Loan, 5.416%, (US0001M + 3.750%), 12/15/28 | 1,166,998 | 0.3 |
48,432 | (1) | Refficiency Holdings LLC 2021 Delayed Draw Term Loan, 5.416%, (US0001M + 3.750%), 12/16/27 | 45,526 | 0.0 |
248,114 | | Refficiency Holdings LLC 2021 Term Loan, 5.416%, (US0001M + 3.750%), 12/16/27 | 233,227 | 0.1 |
220,000 | | Renaissance Holding Corp. 2022 Incremental Term Loan, 5.581%, (SOFRRATE + 4.500%), 03/30/29 | 210,833 | 0.0 |
1,492,188 | | Research Now Group, Inc. 2017 1st Lien Term Loan, 6.500%, (US0006M + 5.500%), 12/20/24 | 1,376,543 | 0.3 |
488,337 | | Rockwood Service Corporation 2020 Term Loan, 5.916%, (US0001M + 4.250%), 01/23/27 | 471,856 | 0.1 |
250,000 | | Sandvine Corporation 2018 1st Lien Term Loan, 6.166%, (US0001M + 4.500%), 10/31/25 | 240,000 | 0.1 |
90,963 | (1) | Service Logic Acquisition, Inc Delayed Draw Term Loan, 5.437%, (US0003M + 4.000%), 10/29/27 | 86,756 | 0.0 |
Principal Amount† | | Borrower/Tranche Description (continued) | Fair Value | Percentage of Net Assets |
LOANS*: (continued) | |
| | Business Equipment & Services: (continued) |
1,093,577 | | Service Logic Acquisition, Inc Term Loan, 5.238%, (US0003M + 4.000%), 10/29/27 | $ | 1,041,632 | 0.2 |
1,123,994 | | Skopima Merger Sub Inc. Term Loan B, 5.666%, (US0001M + 4.000%), 05/12/28 | 1,039,694 | 0.2 |
1,323,478 | | Staples, Inc. 7 Year Term Loan, 6.286%, (US0003M + 5.000%), 04/16/26 | 1,159,225 | 0.3 |
1,246,159 | | Turing Midco LLC 2021 Term Loan B, 4.416%, (US0001M + 2.750%), 03/23/28 | 1,199,039 | 0.3 |
994,845 | | Verifone Systems, Inc. 2018 1st Lien Term Loan, 5.524%, (US0003M + 4.000%), 08/20/25 | 908,341 | 0.2 |
994,890 | | Verscend Holding Corp. 2021 Term Loan B, 5.666%, (US0001M + 4.000%), 08/27/25 | 954,265 | 0.2 |
1,107,225 | | Virtusa Corporation 2022 Incremental Term Loan, 5.375%, (SOFRRATE + 3.750%), 02/15/29 | 1,047,712 | 0.2 |
1,563,401 | | VM Consolidated, Inc. 2021 Term Loan B, 6.125%, (US0006M + 3.250%), 03/24/28 | 1,489,139 | 0.3 |
13,462 | (1) | VT Topco, Inc. 2021 Delayed Draw Term Loan, 5.973%, (US0003M + 3.750%), 08/01/25 | 12,890 | 0.0 |
202,084 | | VT Topco, Inc. 2021 Incremental Term Loan, 5.416%, (US0001M + 3.750%), 08/01/25 | 193,496 | 0.0 |
843,625 | | Waterlogic Holdings Limited 2021 USD Term Loan B2, 6.416%, (US0001M + 4.750%), 08/04/28 | 818,316 | 0.2 |
2,292,743 | | Yak Access, LLC 2018 1st Lien Term Loan B, 6.576%, (US0003M + 5.000%), 07/11/25 | 1,603,487 | 0.4 |
970,000 | | Yak Access, LLC 2018 2nd Lien Term Loan B, 12.185%, (US0003M + 10.000%), 07/10/26 | 518,950 | 0.1 |
| | | 37,343,581 | 8.5 |
| | | | |
| | Cable & Satellite Television: 2.6% |
668,325 | | Cogeco Financing 2 LP 2021 Incremental Term Loan B, 4.166%, (US0001M + 2.500%), 09/01/28 | 637,749 | 0.1 |
1,986,911 | | CSC Holdings LLC, 3.574%, (US0001M + 2.250%), 07/17/25 | 1,852,795 | 0.4 |
1,492,366 | | CSC Holdings, LLC 2019 Term Loan B5, 3.824%, (US0001M + 2.500%), 04/15/27 | 1,392,097 | 0.3 |
1,794,745 | | DirecTV Financing, LLC Term Loan, 6.666%, (US0001M + 5.000%), 08/02/27 | 1,659,818 | 0.4 |
1,950,200 | | Radiate Holdco, LLC 2021 Term Loan B, 4.916%, (US0001M + 3.250%), 09/25/26 | 1,811,248 | 0.4 |
2,479,765 | | Telesat Canada Term Loan B5, 4.420%, (US0001M + 2.750%), 12/07/26 | 1,773,032 | 0.4 |
750,000 | | UPC Financing Partnership 2021 USD Term Loan AX, 4.324%, (US0001M + 3.000%), 01/31/29 | 711,875 | 0.2 |
1,250,000 | | Virgin Media Bristol LLC 2020 USD Term Loan Q, 4.574%, (US0001M + 3.250%), 01/31/29 | 1,198,438 | 0.3 |
437,800 | | WideOpenWest Finance LLC 2021 Term Loan B, 4.509%, (SOFRRATE + 3.000%), 12/20/28 | 423,207 | 0.1 |
| | | 11,460,259 | 2.6 |
| | | | |
| | Chemicals & Plastics: 3.4% |
992,443 | | Ascend Performance Materials Operations LLC 2021 Term Loan B, 7.000%, (US0003M + 4.750%), 08/27/26 | 969,287 | 0.2 |
391,002 | | Avantor Funding, Inc. 2021 Term Loan B5, 3.916%, (US0001M + 2.250%), 11/08/27 | 375,688 | 0.1 |
1,699,662 | | GEON Performance Solutions, LLC 2021 Term Loan, 6.166%, (US0001M + 4.500%), 08/18/28 | 1,615,742 | 0.4 |
410,000 | | Hexion Holdings Corporation 2022 USD 2nd Lien Term Loan, 8.871%, (SOFRRATE + 7.438%), 03/15/30 | 362,850 | 0.1 |
1,405,000 | | Hexion Holdings Corporation 2022 USD Term Loan, 5.924%, (SOFRRATE + 4.500%), 03/15/29 | 1,263,622 | 0.3 |
684,692 | | INEOS Styrolution US Holding LLC 2021 USD Term Loan B, 4.416%, (US0001M + 2.750%), 01/29/26 | 647,890 | 0.1 |
713,213 | | Ineos US Finance LLC 2021 USD Term Loan B, 4.166%, (US0001M + 2.500%), 11/08/28 | 678,443 | 0.2 |
Principal Amount† | | Borrower/Tranche Description (continued) | Fair Value | Percentage of Net Assets |
LOANS*: (continued) | |
| | Chemicals & Plastics: (continued) |
415,813 | | Lonza Group AG USD Term Loan B, 6.250%, (US0003M + 4.000%), 07/03/28 | $ | 373,608 | 0.1 |
498,750 | | LSF11 A5 Holdco LLC Term Loan, 5.140%, (SOFRRATE + 3.500%), 10/15/28 | 468,046 | 0.1 |
190,000 | | NIC Acquisition Corp. Second Lien Term Loan, 10.000%, (US0003M + 7.750%), 12/29/28 | 169,338 | 0.0 |
1,268,625 | | Olympus Water US Holding Corporation 2021 USD Term Loan B, 5.982%, (US0003M + 3.750%), 11/09/28 | 1,185,371 | 0.3 |
1,650,000 | | PMHC II, Inc. 2022 Term Loan B, 5.287%, (SOFRRATE + 4.250%), 04/23/29 | 1,444,928 | 0.3 |
1,110,910 | | Polar US Borrower, LLC 2018 1st Lien Term Loan, 6.004%, (US0003M + 4.750%), 10/15/25 | 1,019,260 | 0.2 |
306,125 | | Potters Industries, LLC Term Loan B, 6.250%, (US0003M + 4.000%), 12/14/27 | 292,349 | 0.1 |
499,950 | | PQ Corporation 2021 Term Loan B, 3.739%, (US0003M + 2.500%), 06/09/28 | 478,858 | 0.1 |
1,761,150 | | Sparta U.S. HoldCo LLC 2021 Term Loan, 4.620%, (US0001M + 3.250%), 08/02/28 | 1,677,495 | 0.4 |
628,613 | | Starfruit Finco B.V 2018 USD Term Loan B, 5.250%, (US0003M + 3.000%), 10/01/25 | 594,983 | 0.1 |
289,275 | | Tronox Finance LLC 2022 Incremental Term Loan, 5.304%, (SOFRRATE + 3.250%), 04/04/29 | 278,427 | 0.1 |
995,000 | | W.R. Grace & Co.-Conn. 2021 Term Loan B, 6.063%, (US0003M + 3.750%), 09/22/28 | 940,275 | 0.2 |
| | | 14,836,460 | 3.4 |
| | | | |
| | Clothing/Textiles: 0.4% |
705,000 | | ABG Intermediate Holdings 2 LLC 2021 Term Loan B1, 5.275%, (SOFRRATE + 3.750%), 12/21/28 | 660,937 | 0.2 |
997,500 | | Crocs Inc Term Loan B, 4.448%, (SOFRRATE + 3.500%), 02/20/29 | 918,199 | 0.2 |
| | | 1,579,136 | 0.4 |
| | Communications: 0.4% | | |
1,780,000 | | Maxar Technologies, Inc. 2022 Term Loan B 1L, 5.936%, (TSFR1M + 4.250%), 06/09/29 | 1,685,437 | 0.4 |
| | | | |
| | Conglomerates: 0.1% |
338,406 | | Fender Musical Instruments Corporation 2021 Term Loan B, 5.226%, (SOFRRATE + 4.000%), 12/01/28 | 319,794 | 0.1 |
| | | | |
| | Consumer, Cyclical: 0.4% |
496,259 | | MOTION FINCO SARL USD TERM LOAN B1, 5.500%, (US0003M + 3.250%), 11/12/26 | 459,867 | 0.1 |
290,000 | | PELOTON INTERACTIVE, INC TERM LOAN, 8.186%, (TSFR1M + 6.500%), 05/25/27 | 282,025 | 0.0 |
370,000 | | PENN NATIONAL GAMING, INC. 2022 TERM LOAN B, 3.831%, (TSFR1M + 2.750%), 05/03/29 | 356,009 | 0.1 |
300,000 | | Superior Industries International, Inc. 2018 1st Lien Term Loan B, 5.799%, (US0003M + 4.000%), 05/22/24 | 288,750 | 0.1 |
380,188 | | WellPet - TL B 1L, 5.813%, (US0003M + 3.750%), 12/21/27 | 356,426 | 0.1 |
| | | 1,743,077 | 0.4 |
| | | | |
| | Consumer, Non-cyclical: 1.4% |
1,510,000 | | BAUSCH + LOMB INC TERM LOAN, 4.331%, (TSFR1M + 3.250%), 05/10/27 | 1,405,873 | 0.3 |
1,607,850 | | CoreLogic, Inc. TL B 1L, 5.188%, (US0001M + 3.500%), 06/02/28 | 1,336,123 | 0.3 |
425,000 | | GALAXY US OPCO INC. TERM LOAN, 1.081%, (TSFR1M + 1.000%), 04/29/29 | 398,438 | 0.1 |
1,258,310 | | Lifescan Global Corporation 2018 1st Lien Term Loan, 6.962%, (US0003M + 6.000%), 10/01/24 | 1,126,188 | 0.3 |
960,000 | | SUNSHINE INVESTMENTS B V 2022 USD TERM LOAN, 5.331%, (TSFR1M + 4.250%), 04/21/29 | 912,800 | 0.2 |
890,000 | | SYNIVERSE HOLDINGS, LLC 2022 TERM LOAN, 1.405%, (TSFR3M + 1.000%), 05/13/27 | 785,425 | 0.2 |
| | | 5,964,847 | 1.4 |
Principal Amount† | | Borrower/Tranche Description (continued) | Fair Value | Percentage of Net Assets |
LOANS*: (continued) | |
| | Containers & Glass Products: 3.3% |
1,431,875 | | Altium Packaging LLC 2021 Term Loan B, 4.416%, (US0001M + 2.750%), 02/03/28 | $ | 1,331,047 | 0.3 |
1,234,725 | | BWAY Holding Company 2017 Term Loan B, 3.326%, (US0003M + 3.250%), 04/03/24 | 1,164,963 | 0.3 |
942,907 | | Charter NEX US, Inc. 2021 Term Loan, 5.416%, (US0001M + 3.750%), 12/01/27 | 890,812 | 0.2 |
910,000 | | Clydesdale Acquisition Holdings Inc Term Loan B, 5.875%, (TSFR1M + 4.250%), 04/13/29 | 855,874 | 0.2 |
714,535 | | Plastipak Packaging, Inc. 2021 Term Loan B, 4.188%, (US0001M + 2.500%), 12/01/28 | 686,847 | 0.2 |
724,319 | | Plaze, Inc. 2020 Incremental Term Loan, 5.421%, (US0001M + 3.750%), 08/03/26 | 673,616 | 0.1 |
1,338,275 | | Pretium PKG Holdings, Inc. 2021 1st Lien Term Loan, 5.044%, (US0003M + 4.000%), 10/02/28 | 1,212,254 | 0.3 |
280,000 | | Pretium PKG Holdings, Inc. 2021 2nd Lien Term Loan, 7.793%, (US0003M + 6.750%), 10/01/29 | 242,900 | 0.0 |
66,816 | (1) | Pro Mach Group, Inc. 2021 Delayed Draw Term Loan, 5.666%, (US0001M + 4.000%), 08/31/28 | 63,002 | 0.0 |
968,275 | | Pro Mach Group, Inc. 2021 Term Loan B, 5.666%, (US0001M + 4.000%), 08/31/28 | 913,003 | 0.2 |
1,244,972 | | Proampac PG Borrower LLC 2020 Term Loan, 5.186%, (US0003M + 3.750%), 11/03/25 | 1,157,046 | 0.3 |
1,420,788 | | Reynolds Group Holdings Inc. 2020 Term Loan B2, 4.916%, (US0001M + 3.250%), 02/05/26 | 1,329,620 | 0.3 |
1,372,747 | | Reynolds Group Holdings Inc. 2021 Term Loan B, 5.166%, (US0001M + 3.500%), 09/24/28 | 1,283,861 | 0.3 |
352,317 | | Tosca Services, LLC 2021 Term Loan, 5.166%, (US0001M + 3.500%), 08/18/27 | 317,086 | 0.1 |
646,734 | | TricorBraun Holdings, Inc. 2021 Term Loan, 4.916%, (US0001M + 3.250%), 03/03/28 | 603,564 | 0.1 |
115,668 | (1) | Trident TPI Holdings, Inc. 2021 Delayed Draw Term Loan, 6.250%, (US0003M + 4.000%), 09/15/28 | 108,728 | 0.0 |
812,710 | | Trident TPI Holdings, Inc. 2021 Incremental Term Loan, 6.250%, (US0003M + 4.000%), 09/15/28 | 763,947 | 0.2 |
493,763 | | Valcour Packaging LLC 2021 1st Lien Term Loan, 5.220%, (US0006M + 3.750%), 10/04/28 | 465,371 | 0.1 |
300,000 | | Valcour Packaging LLC 2021 2nd Lien Term Loan, 8.470%, (US0003M + 7.000%), 10/04/29 | 265,500 | 0.1 |
| | | 14,329,041 | 3.3 |
| | | | |
| | Cosmetics/Toiletries: 0.5% |
2,154,057 | | Anastasia Parent, LLC 2018 Term Loan B, 6.000%, (US0003M + 3.750%), 08/11/25 | 1,731,324 | 0.4 |
518,700 | | Olaplex, Inc 2022 Term Loan, 4.799%, (SOFRRATE + 3.750%), 02/23/29 | 491,468 | 0.1 |
| | | 2,222,792 | 0.5 |
| | | | |
| | Drugs: 0.8% |
987,075 | | Amneal Pharmaceuticals LLC 2018 Term Loan B, 5.497%, (US0001M + 3.500%), 05/04/25 | 895,153 | 0.2 |
442,775 | | ANI Pharmaceuticals, Inc Term Loan B, 7.666%, (US0001M + 6.000%), 04/27/28 | 426,171 | 0.1 |
1,038,326 | | Endo Luxembourg Finance Company I S.a r.l. 2021 Term Loan, 6.688%, (US0001M + 5.000%), 03/27/28 | 796,915 | 0.2 |
1,358,263 | | Jazz Financing Lux S.a.r.l. USD Term Loan, 5.166%, (US0001M + 3.500%), 05/05/28 | 1,298,355 | 0.3 |
| | | 3,416,594 | 0.8 |
| | | | |
| | Ecological Services & Equipment: 0.3% |
716,400 | | Clean Harbors Inc. 2021 Incremental Term Loan B, 3.666%, (US0003M + 2.000%), 10/08/28 | 711,251 | 0.2 |
737,550 | | Denali Water Solutions Term Loan B, 6.500%, (US0003M + 4.250%), 03/27/28 | 674,858 | 0.1 |
| | | 1,386,109 | 0.3 |
| | | | |
| | Electronics/Electrical: 11.9% |
535,000 | | Altar Bidco, Inc. 2021 2nd Lien Term Loan, 7.355%, (US0006M + 5.600%), 02/01/30 | 486,181 | 0.1 |
985,000 | | Altar Bidco, Inc. 2021 Term Loan, 5.506%, (SOFRRATE + 3.350%), 02/01/29 | 910,818 | 0.2 |
Principal Amount† | | Borrower/Tranche Description (continued) | Fair Value | Percentage of Net Assets |
LOANS*: (continued) | |
| | Electronics/Electrical: (continued) |
1,689,188 | | AP Core Holdings II, LLC Amortization Term Loan B1, 7.166%, (US0001M + 5.500%), 09/01/27 | $ | 1,593,466 | 0.4 |
1,245,000 | | AP Core Holdings II, LLC High-Yield Term Loan B2, 7.166%, (US0001M + 5.500%), 09/01/27 | 1,176,006 | 0.3 |
480,150 | | Atlas Purchaser, Inc. 2021 Term Loan, 6.621%, (US0003M + 5.250%), 05/08/28 | 398,525 | 0.1 |
505,000 | | Banff Merger Sub Inc 2021 USD 2nd Lien Term Loan, 7.166%, (US0001M + 5.500%), 02/27/26 | 470,281 | 0.1 |
247,836 | | Banff Merger Sub Inc 2021 USD Term Loan, 5.416%, (US0001M + 3.750%), 10/02/25 | 231,004 | 0.1 |
707,283 | | Barracuda Networks, Inc. 1st Lien Term Loan, 5.982%, (US0003M + 3.750%), 02/12/25 | 702,421 | 0.2 |
994,845 | | CentralSquare Technologies, LLC 2018 1st Lien Term Loan, 6.000%, (US0003M + 3.750%), 08/29/25 | 897,848 | 0.2 |
1,386,525 | | Cloudera, Inc. 2021 Term Loan, 5.416%, (US0001M + 3.750%), 10/08/28 | 1,280,224 | 0.3 |
402,975 | | ConnectWise, LLC 2021 Term Loan B, 5.750%, (US0003M + 3.500%), 09/29/28 | 370,989 | 0.1 |
992,118 | | Constant Contact Inc Term Loan, 5.011%, (US0003M + 4.000%), 02/10/28 | 886,705 | 0.2 |
1,451,363 | | Cornerstone OnDemand, Inc. 2021 Term Loan, 5.416%, (US0001M + 3.750%), 10/16/28 | 1,303,807 | 0.3 |
650,000 | | Creation Technologies Inc. 2021 Term Loan, 6.462%, (US0003M + 5.500%), 10/05/28 | 568,750 | 0.1 |
774,805 | | Delta TopCo, Inc. 2020 Term Loan B, 5.836%, (US0003M + 3.750%), 12/01/27 | 705,556 | 0.2 |
1,436,562 | | EagleView Technology Corporation 2018 Add On Term Loan B, 5.750%, (US0003M + 3.500%), 08/14/25 | 1,322,833 | 0.3 |
530,000 | | Entegris, Inc. 2022 Term Loan B, 3.290%, (SOFRRATE + 3.000%), 03/02/29 | 514,541 | 0.1 |
744,356 | | Grab Holdings Inc Term Loan B, 5.500%, (US0006M + 4.500%), 01/29/26 | 683,877 | 0.2 |
795,429 | | Helios Software Holdings, Inc. 2021 USD Term Loan B, 5.954%, (US0003M + 3.750%), 03/11/28 | 733,783 | 0.2 |
1,380,525 | | Hyland Software, Inc. 2018 1st Lien Term Loan, 5.166%, (US0001M + 3.500%), 07/01/24 | 1,337,384 | 0.3 |
895,000 | | II-VI Incorporated 2021 Term Loan B, 2.959%, (US0003M + 2.750%), 01/14/28 | 859,648 | 0.2 |
1,468,038 | | Imperva, Inc. 1st Lien Term Loan, 5.399%, (US0003M + 4.000%), 01/12/26 | 1,321,234 | 0.3 |
1,368,871 | | Imperva, Inc. 2nd Lien Term Loan, 9.205%, (US0003M + 7.750%), 01/11/27 | 1,197,762 | 0.3 |
1,615,950 | | Informatica LLC 2021 USD Term Loan B, 4.438%, (US0001M + 2.750%), 10/27/28 | 1,538,182 | 0.3 |
1,405,800 | | Ingram Micro Inc. 2021 Term Loan B, 5.750%, (US0003M + 3.500%), 06/30/28 | 1,331,996 | 0.3 |
339,150 | | Instructure Holdings, Inc. 2021 Term Loan B, 3.269%, (US0003M + 2.750%), 10/30/28 | 323,040 | 0.1 |
150,000 | | Ivanti Software, Inc. 2021 2nd Lien Term Loan, 8.848%, (US0003M + 7.250%), 12/01/28 | 136,875 | 0.0 |
256,750 | | Ivanti Software, Inc. 2021 Add On Term Loan B, 5.611%, (US0001M + 4.000%), 12/01/27 | 219,949 | 0.0 |
2,362,291 | | Ivanti Software, Inc. 2021 Term Loan B, 5.848%, (US0003M + 4.250%), 12/01/27 | 2,033,538 | 0.5 |
2,161,859 | | LogMeIn, Inc. Term Loan B, 6.345%, (US0001M + 4.750%), 08/31/27 | 1,697,059 | 0.4 |
1,381,180 | | Magenta Buyer LLC 2021 USD 1st Lien Term Loan, 6.230%, (US0003M + 5.000%), 07/27/28 | 1,247,665 | 0.3 |
560,000 | | Magenta Buyer LLC 2021 USD 2nd Lien Term Loan, 9.480%, (US0003M + 8.250%), 07/27/29 | 527,100 | 0.1 |
344,138 | | Mediaocean LLC 2021 Term Loan, 5.166%, (US0001M + 3.500%), 12/15/28 | 327,504 | 0.1 |
1,664,523 | | MH Sub I, LLC 2020 Incremental Term Loan, 5.416%, (US0001M + 3.750%), 09/13/24 | 1,570,893 | 0.4 |
Principal Amount† | | Borrower/Tranche Description (continued) | Fair Value | Percentage of Net Assets |
LOANS*: (continued) | |
| | Electronics/Electrical: (continued) |
615,000 | | MH Sub I, LLC 2021 2nd Lien Term Loan, 7.916%, (US0001M + 6.250%), 02/23/29 | $ | 583,673 | 0.1 |
783,038 | | Mitchell International, Inc. 2021 Term Loan B, 5.345%, (US0001M + 3.750%), 10/15/28 | 712,891 | 0.2 |
1,054,350 | | Panther Commercial Holdings L.P Term Loan, 5.739%, (US0003M + 4.500%), 01/07/28 | 991,967 | 0.2 |
229,425 | | Ping Identity Corporation 2021 Term Loan B, 5.375%, (SOFRRATE + 3.750%), 11/22/28 | 221,969 | 0.0 |
1,147,525 | | Planview Parent, Inc. Term Loan, 6.250%, (US0001M + 4.000%), 12/17/27 | 1,085,367 | 0.2 |
2,253,976 | | Project Leopard Holdings, Inc. 2019 Term Loan, 6.166%, (US0003M + 4.500%), 07/07/24 | 2,242,424 | 0.5 |
995,000 | | Proofpoint, Inc. 1st Lien Term Loan, 4.825%, (US0003M + 3.250%), 08/31/28 | 928,304 | 0.2 |
610,000 | | Quest Software US Holdings Inc. 2022 2nd Lien Term Loan, 8.724%, (SOFRRATE + 7.500%), 02/01/30 | 551,542 | 0.1 |
1,591,369 | | Rackspace Technology Global, Inc. 2021 Term Loan B, 3.500%, (US0003M + 2.750%), 02/15/28 | 1,458,490 | 0.3 |
2,918,696 | | Redstone Buyer LLC 2021 Term Loan, 5.934%, (US0003M + 4.750%), 04/27/28 | 2,531,969 | 0.6 |
1,437,425 | (2) | Riverbed Technology, Inc. 2021 PIK Exit Term Loan, 7.630% (PIK Rate 2.000%, Cash Rate 7.000%), 12/07/26 | 840,894 | 0.2 |
1,534,285 | | Rocket Software, Inc. 2018 Term Loan, 5.916%, (US0001M + 4.250%), 11/28/25 | 1,431,999 | 0.3 |
1,309,263 | | Rocket Software, Inc. 2021 USD Incremental Term Loan B, 5.916%, (US0001M + 4.250%), 11/28/25 | 1,224,160 | 0.3 |
470,895 | | Seattle Spinco, Inc. USD Term Loan B3, 4.416%, (US0001M + 2.750%), 06/21/24 | 449,116 | 0.1 |
1,366,417 | | SonicWall US Holdings Inc. 1st Lien Term Loan, 5.256%, (US0003M + 3.750%), 05/16/25 | 1,306,352 | 0.3 |
101,610 | | Sovos Compliance, LLC 2021 Delayed Draw Term Loan, 6.152%, (US0001M + 4.500%), 08/11/28 | 96,063 | 0.0 |
585,448 | | Sovos Compliance, LLC 2021 Term Loan, 6.166%, (US0001M + 4.500%), 08/11/28 | 553,493 | 0.1 |
353,225 | | Tenable Holdings, Inc. Term Loan B, 3.269%, (US0006M + 2.750%), 07/07/28 | 337,330 | 0.1 |
520,488 | | Trader Interactive, LLC 2021 Term Loan B, 5.416%, (US0001M + 3.750%), 07/28/28 | 500,970 | 0.1 |
56,739 | (2) | Travelport Finance (Luxembourg) S.a.r.l. 2020 Super Priority Term Loan, 3.750% (PIK Rate 7.250%, Cash Rate 2.500%), 02/28/25 | 56,195 | 0.0 |
1,005,004 | (2) | Travelport Finance (Luxembourg) S.a.r.l. 2021 Consented Term Loan, 7.250% (PIK Rate 1.750%, Cash Rate 0.000%), 05/29/26 | 779,381 | 0.2 |
1,086,869 | | Watlow Electric Manufacturing Company Term Loan B, 5.416%, (US0001M + 3.750%), 03/02/28 | 1,023,015 | 0.2 |
1,292,577 | | Xperi Corporation 2020 Term Loan B, 5.166%, (US0001M + 3.500%), 06/08/28 | 1,243,297 | 0.3 |
| | | 52,058,305 | 11.9 |
| | | | |
| | Equipment Leasing: 0.3% |
378,100 | | Albion Financing 3 SARL USD Term Loan, 6.434%, (US0003M + 5.250%), 08/17/26 | 362,740 | 0.1 |
998,829 | | Rent-A-Center, Inc. 2021 First Lien Term Loan B, 4.938%, (US0001M + 3.250%), 02/17/28 | 900,611 | 0.2 |
| | | 1,263,351 | 0.3 |
| | | | |
| | Financial: 0.4% |
640,163 | | Acrisure, LLC 2021 Incremental Term Loan B, 5.416%, (US0001M + 3.750%), 02/15/27 | 601,219 | 0.1 |
710,000 | | BLACKSTONE MORTGAGE TRUST, INC 2022 TERM LOAN B4, 2.686%, (TSFR1M + 1.000%), 05/09/29 | 687,813 | 0.2 |
307,125 | | Blucora, Inc. 2017 Term Loan B, 6.250%, (US0003M + 4.000%), 05/22/24 | 297,911 | 0.1 |
Principal Amount† | | Borrower/Tranche Description (continued) | Fair Value | Percentage of Net Assets |
LOANS*: (continued) | |
| | Financial: (continued) |
198,489 | | HUB International Ltd. - TL B3 1L, 4.348%, (US0003M + 3.250%), 04/25/25 | $ | 188,509 | 0.0 |
| | | 1,775,452 | 0.4 |
| | | | |
| | Financial Intermediaries: 3.2% |
443,182 | | Advisor Group, Inc. 2021 Term Loan, 6.166%, (US0001M + 4.500%), 07/31/26 | 422,685 | 0.1 |
539,776 | | AllSpring Buyer LLC Term Loan B, 5.482%, (US0003M + 3.250%), 11/01/28 | 518,185 | 0.1 |
545,000 | | AqGen Ascensus, Inc. 2021 2nd Lien Term Loan, 7.500%, (US0003M + 6.500%), 08/02/29 | 504,806 | 0.1 |
771,130 | | AqGen Island Holdings, Inc. Term Loan, 5.813%, (US0003M + 3.500%), 08/02/28 | 721,006 | 0.2 |
739,413 | | Castlelake Aviation Limited Term Loan B, 4.579%, (US0003M + 2.750%), 10/22/26 | 707,679 | 0.2 |
1,733,811 | | Citadel Securities LP 2021 Term Loan B, 3.649%, (SOFRRATE + 2.500%), 02/02/28 | 1,672,587 | 0.4 |
906,408 | | Cushman & Wakefield U.S. Borrower, LLC 2020 Term Loan B, 4.416%, (US0001M + 2.750%), 08/21/25 | 854,572 | 0.2 |
992,405 | | Deerfield Dakota Holding, LLC 2020 USD Term Loan B, 5.275%, (TSFR1M + 3.750%), 04/09/27 | 937,327 | 0.2 |
1,488,722 | | Edelman Financial Center, LLC 2021 Term Loan B, 5.166%, (US0001M + 3.500%), 04/07/28 | 1,375,207 | 0.3 |
1,485,644 | | First Eagle Holdings, Inc. 2020 Term Loan B, 4.750%, (US0003M + 2.500%), 02/01/27 | 1,391,553 | 0.3 |
441,892 | | Focus Financial Partners, LLC 2021 Term Loan, 4.166%, (US0001M + 2.500%), 06/30/28 | 423,388 | 0.1 |
828,738 | | HighTower Holdings LLC 2021 Term Loan B, 5.098%, (US0003M + 4.000%), 04/21/28 | 774,870 | 0.2 |
1,274,080 | | Jane Street Group, LLC 2021 Term Loan, 4.416%, (US0001M + 2.750%), 01/26/28 | 1,225,905 | 0.3 |
1,623,690 | | Trans Union, LLC 2021 Term Loan B6, 3.916%, (US0001M + 2.250%), 12/01/28 | 1,553,523 | 0.3 |
820,000 | | VFH Parent LLC 2022 Term Loan B, 4.434%, (SOFRRATE + 3.000%), 01/13/29 | 777,975 | 0.2 |
258,700 | | Walker & Dunlop, Inc. 2021 Term Loan, 3.875%, (SOFRRATE + 2.250%), 12/16/28 | 248,352 | 0.0 |
| | | 14,109,620 | 3.2 |
| | | | |
| | Food Products: 2.0% |
982,188 | | 8th Avenue Food & Provisions, Inc. 2018 1st Lien Term Loan, 5.416%, (US0001M + 3.750%), 10/01/25 | 834,860 | 0.2 |
547,119 | | 8th Avenue Food & Provisions, Inc. 2021 Incremental Term Loan, 6.383%, (US0001M + 4.750%), 10/01/25 | 470,978 | 0.1 |
620,275 | | Atkins Nutritionals Holdings II, Inc. 2017 Term Loan B, 4.730%, (TSFR1M + 3.250%), 07/07/24 | 617,949 | 0.1 |
660,000 | | BCPE North Star US HoldCo 2, Inc. 2021 2nd Lien Term Loan, 9.500%, (US0003M + 7.250%), 06/08/29 | 633,600 | 0.2 |
1,017,450 | | CHG PPC Parent LLC 2021 Term Loan, 4.688%, (US0001M + 3.000%), 12/08/28 | 961,490 | 0.2 |
101,053 | (1) | Dessert Holdings Inc. Delayed Draw Term Loan, 4.146%, (US0003M + 4.000%), 06/09/28 | 93,726 | 0.0 |
534,905 | | Dessert Holdings Inc. Term Loan, 6.254%, (US0003M + 4.000%), 06/09/28 | 496,125 | 0.1 |
1,795,217 | | IRB Holding Corp 2022 Term Loan B, 4.238%, (SOFRRATE + 3.150%), 12/15/27 | 1,712,936 | 0.4 |
970,000 | (3) | NPC International, Inc. 2nd Lien Term Loan, 1.000%, 04/18/25 | 19,400 | 0.0 |
1,115,000 | | Primary Products Finance LLC Term Loan, 4.500%, (US0001M + 4.000%), 03/31/29 | 1,085,266 | 0.3 |
1,078,394 | | Sigma Bidco B.V. 2018 USD Term Loan B, 3.345%, (US0006M + 3.000%), 07/02/25 | 870,804 | 0.2 |
796,036 | | Weber-Stephen Products LLC Term Loan B, 4.916%, (US0001M + 3.250%), 10/30/27 | 725,885 | 0.2 |
| | | 8,523,019 | 2.0 |
Principal Amount† | | Borrower/Tranche Description (continued) | Fair Value | Percentage of Net Assets |
LOANS*: (continued) | |
| | Food Service: 1.6% |
989,848 | | 1011778 B.C. Unlimited Liability Company Term Loan B4, 3.416%, (US0001M + 1.750%), 11/19/26 | $ | 947,284 | 0.2 |
1,281,788 | | Fertitta Entertainment, LLC 2022 Term Loan B, 5.525%, (SOFRRATE + 4.000%), 01/27/29 | 1,183,364 | 0.3 |
1,119,375 | | Flynn Restaurant Group LP 2021 Term Loan B, 5.916%, (US0001M + 4.250%), 12/01/28 | 1,049,414 | 0.3 |
900,571 | | Fogo De Chao, Inc. 2018 Add On Term Loan, 5.916%, (US0001M + 4.250%), 04/07/25 | 861,547 | 0.2 |
78,000 | | K-Mac Holdings Corp 2021 2nd Lien Term Loan, 8.416%, (US0001M + 6.750%), 07/30/29 | 74,587 | 0.0 |
977,141 | | Tacala, LLC 1st Lien Term Loan, 5.166%, (US0001M + 3.500%), 02/05/27 | 916,627 | 0.2 |
595,408 | | US Foods, Inc. 2019 Term Loan B, 3.575%, (US0003M + 2.000%), 09/13/26 | 560,875 | 0.1 |
1,293,500 | | US Foods, Inc. 2021 Term Loan B, 4.325%, (US0003M + 2.750%), 11/22/28 | 1,234,215 | 0.3 |
| | | 6,827,913 | 1.6 |
| | | | |
| | Food/Drug Retailers: 1.1% |
1,388,230 | | EG Finco Limited 2018 USD Term Loan, 6.250%, (US0003M + 4.000%), 02/07/25 | 1,313,179 | 0.3 |
1,964,352 | | Moran Foods, LLC 2020 2nd Lien Term Loan, 13.000%, (US0003M + 9.750%), 10/01/24 | 1,208,076 | 0.3 |
1,417,823 | | Moran Foods, LLC 2020 Term Loan, 9.250%, (US0003M + 7.000%), 04/01/24 | 1,290,219 | 0.3 |
992,347 | | Portillos Holdings, LLC 2019 1st Lien Term Loan B3, 7.166%, (US0001M + 5.500%), 09/06/24 | 979,943 | 0.2 |
| | | 4,791,417 | 1.1 |
| | | | |
| | Forest Products: 0.1% |
483,906 | | Spa Holdings 3 Oy USD Term Loan B, 6.000%, (US0003M + 3.750%), 02/04/28 | 451,242 | 0.1 |
| | | | |
| | Health Care: 9.9% |
770,000 | | Accelerated Health Systems, LLC 2022 Term Loan B, 5.160%, (SOFRRATE + 4.250%), 02/15/29 | 732,462 | 0.2 |
862,744 | | ADMI Corp. 2021 Term Loan B2, 5.041%, (US0001M + 3.375%), 12/23/27 | 787,470 | 0.2 |
406,846 | | Agiliti Health, Inc Term Loan, 3.813%, (US0001M + 2.750%), 01/04/26 | 391,590 | 0.1 |
1,175,779 | | Air Methods Corporation 2017 Term Loan B, 5.750%, (US0003M + 3.500%), 04/22/24 | 1,045,708 | 0.2 |
250,000 | (1) | Athenahealth, Inc. 2022 Delayed Draw Term loan, 3.550%, (SOFRRATE + 3.500%), 02/15/29 | 230,750 | 0.1 |
1,475,000 | | Athenahealth, Inc. 2022 Term Loan B, 5.009%, (SOFRRATE + 3.500%), 02/15/29 | 1,361,425 | 0.3 |
1,505,000 | | Bausch Health Companies Inc. 2022 Term Loan B, 6.549%, (SOFRRATE + 5.250%), 02/01/27 | 1,296,934 | 0.3 |
878,363 | | Bella Holding Company, LLC 2021 Term Loan B, 5.416%, (US0001M + 3.750%), 05/10/28 | 824,014 | 0.2 |
443,763 | | Carestream Dental Equipment, Inc 2021 Term Loan, 6.166%, (US0001M + 4.500%), 09/01/24 | 423,793 | 0.1 |
652,668 | | CCRR Parent, Inc Term Loan B, 6.010%, (US0003M + 3.750%), 03/06/28 | 629,825 | 0.1 |
967,688 | | CHG Healthcare Services Inc. 2021 Term Loan, 4.750%, (US0003M + 3.250%), 09/29/28 | 911,744 | 0.2 |
994,763 | | Commerce Merger Sub, Inc. 2017 1st Lien Term Loan, 6.127%, (US0006M + 3.250%), 06/28/24 | 949,999 | 0.2 |
1,228,608 | | Curia Global, Inc. 2021 Term Loan, 4.989%, (US0003M + 3.750%), 08/30/26 | 1,159,499 | 0.3 |
1,626,722 | | Da Vinci Purchaser Corp. 2019 Term Loan, 6.250%, (US0003M + 4.000%), 01/08/27 | 1,547,419 | 0.4 |
206,005 | | Embecta Corp Term Loan B, 5.054%, (TSFR1M + 3.000%), 03/30/29 | 195,190 | 0.0 |
1,952,765 | | Envision Healthcare Corporation 2018 1st Lien Term Loan, 5.416%, (US0001M + 3.750%), 10/10/25 | 681,724 | 0.2 |
746,738 | | eResearchTechnology, Inc. 2020 1st Lien Term Loan, 6.166%, (US0001M + 4.500%), 02/04/27 | 691,044 | 0.2 |
Principal Amount† | | Borrower/Tranche Description (continued) | Fair Value | Percentage of Net Assets |
LOANS*: (continued) | |
| | Health Care: (continued) |
1,485,858 | | Global Medical Response, Inc. 2017 Incremental Term Loan, 5.916%, (US0001M + 4.250%), 03/14/25 | $ | 1,385,794 | 0.3 |
874,717 | | GoodRx, Inc. 1st Lien Term Loan, 4.416%, (US0001M + 2.750%), 10/10/25 | 802,553 | 0.2 |
494,792 | | Greenway Health, LLC 2017 1st Lien Term Loan, 5.250%, (US0003M + 3.750%), 02/16/24 | 448,405 | 0.1 |
633,600 | | Heartland Dental, LLC 2021 Incremental Term Loan, 5.642%, (US0001M + 4.000%), 04/30/25 | 595,584 | 0.1 |
453,863 | | ICU Medical, Inc. Term Loan B, 4.604%, (SOFRRATE + 2.650%), 01/08/29 | 439,679 | 0.1 |
1,087,275 | | Medline Borrower, LP USD Term Loan B, 4.916%, (US0001M + 3.250%), 10/23/28 | 1,010,389 | 0.2 |
370,000 | | MJH Healthcare Holdings, LLC 2022 Term Loan B, 5.109%, (SOFRRATE + 3.600%), 01/28/29 | 348,725 | 0.1 |
1,421,750 | | MPH Acquisition Holdings LLC 2021 Term Loan B, 5.825%, (US0003M + 4.250%), 09/01/28 | 1,314,230 | 0.3 |
150,000 | | National Mentor Holdings, Inc. 2021 2nd Lien Term Loan, 9.510%, (US0003M + 7.250%), 03/02/29 | 138,000 | 0.0 |
59,728 | | National Mentor Holdings, Inc. 2021 Term Loan C, 6.010%, (US0003M + 3.750%), 03/02/28 | 52,561 | 0.0 |
1,769,434 | | National Mentor Holdings, Inc. 2021 Term Loan, 5.747%, (US0003M + 3.750%), 03/02/28 | 1,557,102 | 0.4 |
448,875 | | Owens & Minor, Inc. 2022 Term Loan B, 4.250%, (TSFR1M + 3.750%), 03/29/29 | 446,070 | 0.1 |
638,550 | | Pacific Dental Services,LLC 2021 Term Loan, 4.759%, (US0001M + 3.250%), 05/05/28 | 613,806 | 0.1 |
755,413 | | Packaging Coordinators Midco, Inc. 2020 1st Lien Term Loan, 6.000%, (US0003M + 3.750%), 11/30/27 | 714,998 | 0.2 |
250,000 | | Padagis LLC Term Loan B, 5.719%, (US0003M + 4.750%), 07/06/28 | 230,625 | 0.0 |
997,500 | | Parexel International Corporation 2021 1st Lien Term Loan, 4.883%, (US0001M + 3.250%), 11/15/28 | 942,103 | 0.2 |
1,006,420 | | Pathway Vet Alliance LLC 2021 Term Loan, 6.000%, (US0003M + 3.750%), 03/31/27 | 937,228 | 0.2 |
831,600 | | Pediatric Associates Holding Company, LLC 2021 Term Loan B, 5.076%, (US0003M + 3.250%), 12/29/28 | 781,704 | 0.2 |
126,158 | (1) | Pediatric Associates Holding Company, LLC 2022 Delayed Draw Term loan, 4.922%, (US0003M + 3.250%), 12/29/28 | 118,588 | 0.0 |
580,000 | | Perrigo Investments, LLC Term Loan B, 3.645%, (TSFR1M + 2.500%), 04/20/29 | 562,600 | 0.1 |
972,487 | | PetVet Care Centers, LLC 2021 Term Loan B3, 5.166%, (US0001M + 3.500%), 02/14/25 | 919,811 | 0.2 |
1,318,994 | | Phoenix Guarantor Inc 2020 Term Loan B, 4.916%, (US0001M + 3.250%), 03/05/26 | 1,235,320 | 0.3 |
1,180,087 | | Phoenix Guarantor Inc 2021 Term Loan B3, 5.142%, (US0001M + 3.500%), 03/05/26 | 1,105,225 | 0.3 |
403,705 | | Physician Partners LLC Term Loan, 5.625%, (SOFRRATE + 4.000%), 12/23/28 | 379,988 | 0.1 |
1,301,875 | | Pluto Acquisition I, Inc. 2021 1st Lien Term Loan, 6.076%, (US0003M + 4.000%), 06/22/26 | 1,140,768 | 0.3 |
613,463 | | PointClickCare Technologies, Inc. 2022 Term Loan B, 4.775%, (SOFRRATE + 4.000%), 12/29/27 | 590,458 | 0.1 |
246,253 | | PointClickCare Technologies, Inc. Term Loan B, 5.938%, (US0003M + 3.000%), 12/29/27 | 232,709 | 0.1 |
663,338 | | Press Ganey Holdings, Inc. 2022 Incremental Term Loan, 4.900%, (SOFRRATE + 3.750%), 07/24/26 | 621,879 | 0.1 |
1,397,313 | | Project Ruby Ultimate Parent Corp. 2021 Term Loan, 4.916%, (US0001M + 3.250%), 03/03/28 | 1,311,727 | 0.3 |
Principal Amount† | | Borrower/Tranche Description (continued) | Fair Value | Percentage of Net Assets |
LOANS*: (continued) | |
| | Health Care: (continued) |
2,132,803 | | RegionalCare Hospital Partners Holdings, Inc. 2018 Term Loan B, 5.416%, (US0001M + 3.750%), 11/16/25 | $ | 1,994,742 | 0.5 |
481,363 | | Resonetics, LLC 2021 Term Loan, 5.239%, (US0003M + 4.000%), 04/28/28 | 457,896 | 0.1 |
756,707 | | RxBenefits, Inc. 2020 Term Loan, 6.609%, (US0006M + 4.500%), 12/20/27 | 703,737 | 0.2 |
1,035,000 | | Sotera Health Holdings, LLC 2021 Term Loan, 4.416%, (US0001M + 2.750%), 12/11/26 | 985,838 | 0.2 |
1,182,475 | | Surgery Center Holdings, Inc. 2021 Term Loan, 4.950%, (US0001M + 3.750%), 08/31/26 | 1,104,505 | 0.2 |
490,827 | | Tecomet Inc. 2017 Repriced Term Loan, 4.500%, (US0003M + 3.500%), 05/01/24 | 428,246 | 0.1 |
1,156,263 | | U.S. Anesthesia Partners, Inc. 2021 Term Loan, 5.312%, (US0001M + 4.250%), 10/01/28 | 1,083,583 | 0.2 |
1,037,163 | | Virgin Pulse, Inc. 2021 Term Loan, 5.666%, (US0001M + 4.000%), 04/06/28 | 899,738 | 0.2 |
817,950 | | WP CityMD Bidco LLC 2021 1st Lien Term Loan B, 5.500%, (US0003M + 3.250%), 12/22/28 | 771,736 | 0.2 |
| | | 43,269,240 | 9.9 |
| | | | |
| | Home Furnishings: 0.3% |
759,263 | | Conair Holdings, LLC Term Loan B, 6.000%, (US0003M + 3.750%), 05/17/28 | 639,046 | 0.1 |
865,650 | | Illuminate Merger Sub Corp. Term Loan, 6.377%, (US0006M + 3.500%), 07/21/28 | 761,231 | 0.2 |
| | | 1,400,277 | 0.3 |
| | | | |
| | Industrial: 0.9% |
420,000 | | AZZ INCORPORATED TERM LOAN B, 5.331%, (TSFR1M + 4.250%), 05/06/29 | 404,250 | 0.1 |
365,000 | | Brown Group Holding LLC 2022 Term Loan B2 1L, 5.436%, (TSFR1M + 3.750%), 06/09/29 | 352,225 | 0.1 |
1,009,870 | | First Student Bidco, Inc. 2022 Term Loan B 1L, 5.686%, (TSFR1M + 4.000%), 07/21/28 | 931,605 | 0.2 |
70,130 | | First Student Bidco, Inc. 2022 Term Loan C 1L, 5.686%, (TSFR1M + 4.000%), 07/21/28 | 64,695 | 0.0 |
320,000 | | Five Star 2022 Term Loan 1L, 5.331%, (TSFR1M + 4.250%), 05/05/29 | 308,800 | 0.1 |
865,000 | | Project Castle, Inc. Term Loan B 1L, 7.186%, (TSFR1M + 5.500%), 06/01/29 | 787,150 | 0.2 |
900,000 | | ST GEO WARE + TR CO OF CAL INC 2022 TERM LOAN, 1.081%, (TSFR1M + 1.000%), 03/24/28 | 868,500 | 0.2 |
295,000 | | Vertex Aerospace Services Corp 2022 Term Loan B 1L, 5.686%, (TSFR1M + 4.000%), 12/22/28 | 282,462 | 0.0 |
| | | 3,999,687 | 0.9 |
| | | | |
| | Industrial Equipment: 1.5% |
496,180 | | Alliance Laundry Systems LLC Term Loan B, 4.524%, (US0003M + 3.500%), 10/08/27 | 472,146 | 0.1 |
384,038 | | Clark Equipment Company 2022 Term Loan B, 4.654%, (TSFR1M + 2.500%), 04/20/29 | 371,876 | 0.1 |
736,300 | | CMBF LLC Term Loan, 7.190%, (US0001M + 6.000%), 08/02/28 | 658,989 | 0.1 |
1,000,000 | | Crown Subsea Communications Holding,Inc. 2021 Term Loan, 5.812%, (US0003M + 4.750%), 04/27/27 | 967,500 | 0.2 |
993,254 | | Granite Holdings US Acquisition Co. 2021 Term Loan B, 5.006%, (US0003M + 4.000%), 09/30/26 | 939,453 | 0.2 |
250,521 | | I-Logic Technologies Bidco Limited 2021 USD Term Loan B, 6.204%, (TSFR1M + 4.000%), 02/16/28 | 236,742 | 0.0 |
852,592 | | Kenan Advantage Group, Inc. 2021 Term Loan B1, 5.383%, (US0001M + 3.750%), 03/24/26 | 797,174 | 0.2 |
497,487 | | Madison IAQ LLC Term Loan, 4.524%, (US0006M + 3.250%), 06/21/28 | 454,828 | 0.1 |
281,991 | | Star US Bidco LLC Term Loan B, 5.916%, (US0001M + 4.250%), 03/17/27 | 270,006 | 0.1 |
1,688,915 | | Vertical US Newco Inc Term Loan B, 4.015%, (US0006M + 3.500%), 07/30/27 | 1,587,580 | 0.4 |
| | | 6,756,294 | 1.5 |
Principal Amount† | | Borrower/Tranche Description (continued) | Fair Value | Percentage of Net Assets |
LOANS*: (continued) | |
| | Insurance: 3.0% |
775,293 | | Acrisure, LLC 2020 Term Loan B, 5.166%, (US0001M + 3.500%), 02/15/27 | $ | 713,754 | 0.2 |
1,104,450 | | Acrisure, LLC 2021 First Lien Term Loan B, 5.916%, (US0001M + 4.250%), 02/15/27 | 1,040,944 | 0.2 |
1,303,894 | | Alliant Holdings Intermediate, LLC 2021 Term Loan B4, 5.009%, (US0001M + 3.500%), 11/06/27 | 1,215,881 | 0.3 |
360,349 | | Alliant Holdings Intermediate, LLC Term Loan B, 4.916%, (US0001M + 3.250%), 05/09/25 | 341,055 | 0.1 |
1,240,360 | | Aretec Group, Inc. 2018 Term Loan, 5.916%, (US0001M + 4.250%), 10/01/25 | 1,182,476 | 0.3 |
1,432,214 | | AssuredPartners, Inc. 2020 Term Loan B, 5.166%, (US0001M + 3.500%), 02/12/27 | 1,342,701 | 0.3 |
1,173,882 | | Hub International Limited 2018 Term Loan B, 4.214%, (US0003M + 3.000%), 04/25/25 | 1,111,926 | 0.2 |
751,225 | | IMA Financial Group, Inc. Term Loan, 5.416%, (US0001M + 3.750%), 11/01/28 | 712,725 | 0.1 |
1,305,729 | | NFP Corp. 2020 Term Loan, 4.916%, (US0001M + 3.250%), 02/15/27 | 1,212,370 | 0.3 |
2,363,990 | | OneDigital Borrower LLC 2021 Term Loan, 5.710%, (SOFRRATE + 4.250%), 11/16/27 | 2,239,881 | 0.5 |
494,962 | | Ryan Specialty Group, LLC Term Loan, 4.625%, (TSFR1M + 3.000%), 09/01/27 | 477,638 | 0.1 |
1,710,512 | | Sedgwick Claims Management Services, Inc. 2018 Term Loan B, 4.916%, (US0001M + 3.250%), 12/31/25 | 1,607,882 | 0.4 |
| | | 13,199,233 | 3.0 |
| | | | |
| | Leisure Good/Activities/Movies: 3.8% |
652,916 | (2),(4) | 24 Hour Fitness Worldwide, Inc. 2021 Delayed Draw Term Loan, 3.575% (PIK Rate 12.000%, Cash Rate 3.000%), 08/26/22 | 641,490 | 0.1 |
1,027,774 | (2) | 24 Hour Fitness Worldwide, Inc. 2021 Exit Delayed Draw Term Loan, 15.900%, (US0003M + 14.000%) (PIK Rate 12.000%, Cash Rate 3.000%), 09/29/26 | 1,022,635 | 0.2 |
1,352,568 | | Alterra Mountain Company 2021 Series B-2 Consenting Term Loan, 5.166%, (US0001M + 3.500%), 08/17/28 | 1,293,815 | 0.3 |
707,688 | | AMC Entertainment Holdings Inc. 2019 Term Loan B, 4.200%, (US0001M + 3.000%), 04/22/26 | 597,407 | 0.1 |
2,204,475 | | AppLovin Corporation 2021 Term Loan B, 5.250%, (US0003M + 3.000%), 10/25/28 | 2,102,518 | 0.5 |
1,985,025 | | City Football Group Limited Term Loan, 4.598%, (US0003M + 3.500%), 07/21/28 | 1,836,148 | 0.4 |
1,465,275 | | ClubCorp Club Operations, Inc. 2017 Incremental Term Loan, 5.000%, (US0003M + 2.750%), 09/18/24 | 1,353,090 | 0.3 |
269 | (2) | Crown Finance US, Inc. 2020 Term Loan B1, 7.000%, (US0003M + 8.250%) (PIK Rate 8.250%, Cash Rate 7.000%), 05/23/24 | 302 | 0.0 |
1,115,800 | | CWGS Group, LLC 2021 Term Loan B, 3.851%, (US0001M + 2.500%), 06/03/28 | 1,005,615 | 0.2 |
500,000 | | Delta 2 (LUX) S.a.r.l. 2018 USD Term Loan, 4.166%, (US0001M + 2.500%), 02/01/24 | 488,303 | 0.1 |
619,196 | | Hayward Industries, Inc. 2021 Term Loan, 4.166%, (US0001M + 2.500%), 05/30/28 | 591,429 | 0.1 |
1,248,335 | | MajorDrive Holdings IV LLC Term Loan B, 5.625%, (US0003M + 4.000%), 06/01/28 | 1,130,783 | 0.3 |
493,671 | | PUG LLC USD Term Loan, 5.166%, (US0001M + 3.500%), 02/12/27 | 451,709 | 0.1 |
1,329,807 | | RV Retailer, LLC Term Loan B, 5.168%, (SOFRRATE + 3.750%), 02/08/28 | 1,128,119 | 0.3 |
277,622 | | Samsonite International S.A. 2020 Incremental Term Loan B2, 4.666%, (US0001M + 3.000%), 04/25/25 | 270,219 | 0.1 |
895,000 | | Scientific Games Holdings LP 2022 USD Term Loan B, 4.175%, (SOFRRATE + 3.500%), 04/04/29 | 829,367 | 0.2 |
911,765 | | SRAM, LLC 2021 Term Loan B, 4.416%, (US0001M + 2.750%), 05/18/28 | 868,456 | 0.2 |
Principal Amount† | | Borrower/Tranche Description (continued) | Fair Value | Percentage of Net Assets |
LOANS*: (continued) | |
| | Leisure Good/Activities/Movies: (continued) |
1,101,785 | | The Knot Worldwide Inc. 2022 Term Loan, 6.125%, (SOFRRATE + 4.500%), 12/19/25 | $ | 1,057,714 | 0.3 |
| | | 16,669,119 | 3.8 |
| | | | |
| | Lodging & Casinos: 2.0% |
987,469 | | Aimbridge Acquisition Co., Inc. 2020 Incremental Term Loan B, 6.259%, (US0001M + 4.750%), 02/02/26 | 896,128 | 0.2 |
736,527 | | Arches Buyer Inc. 2021 Term Loan B, 4.916%, (US0001M + 3.250%), 12/06/27 | 673,922 | 0.1 |
543,130 | | Caesars Resort Collection, LLC 2020 Term Loan B1, 5.166%, (US0001M + 3.500%), 07/21/25 | 525,648 | 0.1 |
862,838 | | Century Casinos, Inc 2022 Term Loan, 7.145%, (TSFR1M + 6.000%), 04/02/29 | 834,795 | 0.2 |
925,926 | | Golden Entertainment, Inc. 2017 1st Lien Term Loan, 4.630%, (US0001M + 3.000%), 10/21/24 | 904,706 | 0.2 |
1,295,213 | | Hilton Grand Vacations Borrower LLC 2021 Term Loan B, 4.666%, (US0001M + 3.000%), 08/02/28 | 1,214,586 | 0.3 |
500,000 | | Hilton Worldwide Finance, LLC 2019 Term Loan B2, 3.374%, (US0001M + 1.750%), 06/22/26 | 480,125 | 0.1 |
1,000,000 | | Scientific Games International, Inc. 2022 USD Term Loan, 4.358%, (TSFR1M + 3.000%), 04/14/29 | 939,792 | 0.2 |
665,652 | | Stars Group Holdings B.V. (The) 2018 USD Incremental Term Loan, 4.500%, (US0003M + 2.250%), 07/21/26 | 634,311 | 0.1 |
701,082 | | The Enterprise Development Authority Term Loan B, 5.916%, (US0001M + 4.250%), 02/28/28 | 678,078 | 0.2 |
1,233,800 | | Twin River Worldwide Holdings, Inc. 2021 Term Loan B, 4.370%, (US0001M + 3.250%), 10/02/28 | 1,149,417 | 0.3 |
| | | 8,931,508 | 2.0 |
| | | | |
| | Mortgage REITs: 0.2% |
735,906 | | BIFM CA Buyer Inc. Term Loan B, 5.071%, (US0001M + 3.500%), 06/01/26 | 697,270 | 0.2 |
| | | | |
| | Nonferrous Metals/Minerals: 0.9% |
1,336,122 | | Covia Holdings Corporation 2020 PIK Take Back Term Loan, 5.000%, (US0003M + 4.000%), 07/31/26 | 1,266,643 | 0.3 |
2,923,111 | | U.S. Silica Company 2018 Term Loan B, 5.688%, (US0001M + 4.000%), 05/01/25 | 2,825,368 | 0.6 |
| | | 4,092,011 | 0.9 |
| | | | |
| | Oil & Gas: 2.4% |
151,603 | | BCP Renaissance Parent LLC 2017 Term Loan B, 5.166%, (US0001M + 3.500%), 10/31/24 | 146,676 | 0.0 |
1,577,165 | | Brazos Delaware II, LLC Term Loan B, 5.595%, (US0001M + 4.000%), 05/21/25 | 1,523,147 | 0.3 |
448,215 | | Glass Mountain Pipeline Holdings, LLC 2021 Exit Term Loan, 5.740%, (US0003M + 4.500%), 10/28/27 | 385,465 | 0.1 |
858,513 | | ITT Holdings LLC 2021 Term Loan, 4.416%, (US0001M + 2.750%), 07/10/28 | 820,952 | 0.2 |
1,741,250 | | Lucid Energy Group II Borrower, LLC 2021 Term Loan, 5.874%, (US0001M + 4.250%), 11/24/28 | 1,723,526 | 0.4 |
728,713 | | Medallion Midland Acquisition, LLC 2021 Term Loan, 5.416%, (US0001M + 3.750%), 10/18/28 | 698,654 | 0.2 |
793,814 | | NorthRiver Midstream Finance LP 2018 Term Loan B, 4.217%, (US0003M + 3.250%), 10/01/25 | 774,961 | 0.2 |
875,600 | | Oryx Midstream Services Permian Basin LLC Term Loan B, 4.705%, (US0003M + 3.250%), 10/05/28 | 833,462 | 0.2 |
445,256 | | Southwestern Energy Company 2021 Term Loan, 4.704%, (SOFRRATE + 2.500%), 06/22/27 | 434,125 | 0.1 |
802,988 | | TransMontaigne Operating Company L.P. Term Loan B, 5.671%, (US0001M + 3.500%), 11/17/28 | 761,834 | 0.2 |
950,353 | | Traverse Midstream Partners LLC 2017 Term Loan, 5.937%, (SOFRRATE + 4.250%), 09/27/24 | 909,171 | 0.2 |
1,486,031 | | WaterBridge Midstream Operating LLC Term Loan B, 8.592%, (US0003M + 5.750%), 06/22/26 | 1,409,129 | 0.3 |
| | | 10,421,102 | 2.4 |
Principal Amount† | | Borrower/Tranche Description (continued) | Fair Value | Percentage of Net Assets |
LOANS*: (continued) | |
| | Publishing: 0.9% |
820,419 | | Alchemy Copyrights, LLC Term Loan B, 4.062%, (US0001M + 3.000%), 03/10/28 | $ | 795,806 | 0.2 |
992,500 | | Cengage Learning, Inc. 2021 Term Loan B, 5.750%, (US0003M + 4.750%), 07/14/26 | 898,709 | 0.2 |
1,094,500 | | Dotdash Meredith Inc Term Loan B, 5.145%, (SOFRRATE + 4.000%), 12/01/28 | 1,026,094 | 0.2 |
1,225,738 | | McGraw-Hill Global Education Holdings, LLC 2021 Term Loan, 5.554%, (US0006M + 4.750%), 07/28/28 | 1,112,357 | 0.3 |
| | | 3,832,966 | 0.9 |
| | | | |
| | Radio & Television: 2.5% |
1,490,800 | | A-L Parent LLC 2016 1st Lien Term Loan, 4.920%, (US0001M + 3.250%), 12/01/23 | 1,319,358 | 0.3 |
1,381,225 | | Clear Channel Outdoor Holdings, Inc. Term Loan B, 4.739%, (US0003M + 3.500%), 08/21/26 | 1,189,149 | 0.3 |
1,654,304 | | CMG Media Corporation 2021 Term Loan, 5.166%, (US0001M + 3.500%), 12/17/26 | 1,523,201 | 0.3 |
4,791,906 | | Diamond Sports Group, LLC 2022 2nd Lien Term Loan, 4.431%, (SOFRRATE + 3.250%), 08/24/26 | 1,145,563 | 0.3 |
303,098 | | Diamond Sports Group, LLC 2022 First Priority Term Loan, 9.181%, (SOFRRATE + 8.000%), 05/26/26 | 299,310 | 0.1 |
666,667 | | Entercom Media Corp. 2019 Term Loan, 4.785%, (US0003M + 2.500%), 11/18/24 | 594,271 | 0.1 |
1,397,975 | | Gray Television, Inc. 2021 Term Loan D, 4.062%, (US0001M + 3.000%), 12/01/28 | 1,340,308 | 0.3 |
280,000 | | iHeartCommunications, Inc. 2020 Incremental Term Loan, 4.916%, (US0001M + 3.250%), 05/01/26 | 260,925 | 0.1 |
1,533,849 | | iHeartCommunications, Inc. 2020 Term Loan, 4.666%, (US0001M + 3.000%), 05/01/26 | 1,428,397 | 0.3 |
640,372 | | NASCAR Holdings, Inc Term Loan B, 4.166%, (US0001M + 2.500%), 10/19/26 | 620,210 | 0.1 |
159,538 | | Sinclair Television Group Inc. Term Loan B2B, 4.170%, (US0001M + 2.500%), 09/30/26 | 146,675 | 0.0 |
1,343,083 | | Univision Communications Inc. 2021 First Lien Term Loan B, 4.916%, (US0001M + 3.250%), 03/15/26 | 1,274,250 | 0.3 |
| | | 11,141,617 | 2.5 |
| | | | |
| | Retailers (Except Food & Drug): 2.8% |
385,000 | | AI Aqua Merger Sub, Inc. 2021 1st Lien Term Loan B, 4.831%, (SOFRRATE + 3.750%), 07/31/28 | 350,350 | 0.1 |
102,778 | | AI Aqua Merger Sub, Inc. 2022 Delayed Draw Term loan, 4.050%, (SOFRRATE + 4.000%), 07/31/28 | 93,956 | 0.0 |
452,222 | | AI Aqua Merger Sub, Inc. 2022 Term Loan B, 4.050%, (TSFR1M + 4.000%), 07/31/28 | 413,407 | 0.1 |
604,838 | | CNT Holdings I Corp 2020 Term Loan, 4.690%, (US0001M + 3.500%), 11/08/27 | 575,163 | 0.1 |
672,742 | | Franchise Group Intermediate Holdco, LLC 2021 First Out Term Loan B, 6.500%, (US0003M + 4.750%), 03/10/26 | 618,362 | 0.2 |
1,704,147 | | Great Outdoors Group, LLC 2021 Term Loan B1, 5.416%, (US0001M + 3.750%), 03/06/28 | 1,562,845 | 0.4 |
2,028,212 | | Harbor Freight Tools USA, Inc. 2021 Term Loan B, 4.416%, (US0001M + 2.750%), 10/19/27 | 1,803,206 | 0.4 |
750,333 | | Jo-Ann Stores, Inc. 2021 Term Loan B1, 5.964%, (US0003M + 4.750%), 07/07/28 | 522,106 | 0.1 |
637,641 | | Leslies Poolmart, Inc. 2021 Term Loan B, 3.019%, (US0003M + 2.500%), 03/09/28 | 607,672 | 0.1 |
622,470 | | Mens Wearhouse, Inc. (The) 2020 Take Back Term Loan, 9.286%, (US0003M + 8.000%), 12/01/25 | 601,073 | 0.1 |
205,190 | | Mens Wearhouse, Inc. (The) 2020 Term Loan, 12.286%, (US0003M + 11.000%), 06/01/25 | 205,190 | 0.1 |
1,064,994 | | Michaels Companies, Inc. 2021 Term Loan B, 6.500%, (US0003M + 4.250%), 04/15/28 | 885,721 | 0.2 |
994,962 | | Petco Animal Supplies, Inc. 2021 Term Loan B, 5.500%, (US0003M + 3.250%), 03/03/28 | 939,244 | 0.2 |
Principal Amount† | | Borrower/Tranche Description (continued) | Fair Value | Percentage of Net Assets |
LOANS*: (continued) | |
| | Retailers (Except Food & Drug): (continued) |
796,000 | | Petmate Incremental Term Loan B, 7.750%, (US0003M + 5.500%), 09/15/28 | $ | 696,500 | 0.2 |
1,240,625 | | Pilot Travel Centers LLC 2021 Term Loan B, 3.625%, (TSFR1M + 2.000%), 08/04/28 | 1,191,485 | 0.3 |
528,082 | | Restoration Hardware, Inc. Term Loan B, 4.166%, (US0001M + 2.500%), 10/20/28 | 465,702 | 0.1 |
506,175 | | Victorias Secret & Co. Term Loan B, 4.536%, (US0003M + 3.250%), 08/02/28 | 486,561 | 0.1 |
| | | 12,018,543 | 2.8 |
| | | | |
| | Surface Transport: 1.2% |
2,092,554 | | American Trailer World Corp. Term Loan B, 5.375%, (SOFRRATE + 3.750%), 03/03/28 | 1,874,579 | 0.4 |
625,936 | | ENC Holding Corporation 2021 Term Loan, 6.504%, (US0003M + 4.250%), 08/04/28 | 600,899 | 0.1 |
55,918 | (1) | ENC Holding Corporation Delayed Draw Term Loan, 4.370%, (US0003M + 4.250%), 08/19/28 | 53,682 | 0.0 |
150,000 | | LaserShip, Inc. 2021 2nd Lien Term Loan, 10.377%, (US0003M + 7.500%), 05/07/29 | 138,000 | 0.0 |
992,500 | | LaserShip, Inc. 2021 Term Loan, 7.377%, (US0006M + 4.500%), 05/07/28 | 896,972 | 0.2 |
785,056 | | Savage Enterprises LLC 2021 Term Loan B, 4.900%, (US0001M + 3.250%), 09/15/28 | 750,219 | 0.2 |
885,550 | | Worldwide Express Operations, LLC 2021 1st Lien Term Loan, 6.250%, (US0003M + 4.000%), 07/26/28 | 806,957 | 0.2 |
250,000 | | Worldwide Express Operations, LLC 2021 2nd Lien Term Loan, 9.250%, (US0003M + 7.000%), 07/26/29 | 226,250 | 0.1 |
| | | 5,347,558 | 1.2 |
| | | | |
| | Technology: 2.8% |
190,000 | | ARISTOCRAT TECHNOLOGIES INC 2022 TERM LOAN B, 3.331%, (TSFR1M + 2.250%), 05/24/29 | 184,142 | 0.0 |
7,220,000 | | Avaya 2022 Term Loan 1L, 11.686%, (TSFR1M + 10.000%), 12/15/27 | 6,579,225 | 1.5 |
915,000 | | CDK Global 2022 Term Loan B 1L, 6.186%, (TSFR1M + 4.500%), 06/14/29 | 890,409 | 0.2 |
1,221,011 | | Misys (Finastra) - TL B 1L, 4.739%, (US0003M + 3.500%), 06/13/24 | 1,102,344 | 0.3 |
1,495,000 | | MKS Instruments, Inc. 2022 USD Term Loan B 1L, 3.831%, (TSFR1M + 2.750%), 04/08/29 | 1,433,331 | 0.3 |
780,105 | | RealPage, Inc. Term Loan B 1L, 4.916%, (US0001M + 3.000%), 04/24/28 | 721,987 | 0.2 |
1,759,145 | | Veritas US Inc. 2021 USD Term Loan B, 7.250%, (US0003M + 5.000%), 09/01/25 | 1,450,196 | 0.3 |
| | | 12,361,634 | 2.8 |
| | | | |
| | Telecommunications: 5.7% |
893,599 | | Altice Financing SA 2017 USD Term Loan B, 3.794%, (US0003M + 2.750%), 07/15/25 | 812,058 | 0.2 |
894,270 | | Altice Financing SA USD 2017 1st Lien Term Loan, 3.794%, (US0003M + 2.750%), 01/31/26 | 816,860 | 0.2 |
627,987 | | Altice France S.A. USD Term Loan B11, 3.989%, (US0003M + 2.750%), 07/31/25 | 574,216 | 0.1 |
1,974,937 | | Asurion LLC 2020 Term Loan B8, 4.916%, (US0001M + 3.250%), 12/23/26 | 1,795,959 | 0.4 |
530,000 | | Asurion LLC 2021 2nd Lien Term Loan B3, 6.916%, (US0001M + 5.250%), 01/31/28 | 460,305 | 0.1 |
1,170,000 | | Asurion LLC 2021 Second Lien Term Loan B4, 6.916%, (US0001M + 5.250%), 01/20/29 | 1,004,006 | 0.2 |
1,468,719 | | Asurion LLC 2021 Term Loan B9, 4.916%, (US0001M + 3.250%), 07/31/27 | 1,332,863 | 0.3 |
747,235 | | Avaya, Inc. 2020 Term Loan B, 5.574%, (US0001M + 4.250%), 12/15/27 | 558,558 | 0.1 |
812,079 | | Cablevision Lightpath LLC Term Loan B, 4.574%, (US0001M + 3.250%), 11/30/27 | 768,768 | 0.2 |
2,487,406 | | CCI Buyer, Inc. Term Loan, 6.054%, (US0003M + 4.000%), 12/17/27 | 2,275,976 | 0.5 |
2,977,099 | | CenturyLink, Inc. 2020 Term Loan B, 3.916%, (US0001M + 2.250%), 03/15/27 | 2,743,272 | 0.6 |
Principal Amount† | | Borrower/Tranche Description (continued) | Fair Value | Percentage of Net Assets |
LOANS*: (continued) | |
| | Telecommunications: (continued) |
1,777,016 | | CommScope, Inc. 2019 Term Loan B, 4.916%, (US0001M + 3.250%), 04/06/26 | $ | 1,605,237 | 0.4 |
2,380,213 | | Connect Finco Sarl 2021 Term Loan B, 4.560%, (US0001M + 3.500%), 12/11/26 | 2,207,647 | 0.5 |
767,852 | | Digi International Inc. Term Loan B, 5.500%, (US0003M + 5.000%), 11/01/28 | 750,576 | 0.2 |
1,742,297 | | Global Tel*Link Corporation 2018 1st Lien Term Loan, 5.916%, (US0001M + 4.250%), 11/29/25 | 1,622,786 | 0.4 |
1,447,028 | | Global Tel*Link Corporation 2018 2nd Lien Term Loan, 11.625%, (SOFRRATE + 10.000%), 11/29/26 | 1,286,046 | 0.3 |
381,150 | | GOGO Intermediate Holdings LLC Term Loan B, 4.989%, (US0003M + –%), 04/30/28 | 362,728 | 0.1 |
253,478 | | GTT Communications, Inc. 2018 USD Term Loan B, 8.500%, (PRIME + 3.750%), 05/31/25 | 199,614 | 0.0 |
750,000 | | Level 3 Financing Inc. 2019 Term Loan B, 3.416%, (US0001M + 1.750%), 03/01/27 | 696,875 | 0.2 |
791,169 | | Securus Technologies Holdings, Inc. 2017 1st Lien Term Loan, 6.750%, (US0003M + 4.500%), 11/01/24 | 737,394 | 0.2 |
675,000 | | Venga Finance Sarl 2021 USD Term Loan B, 4.923%, (US0003M + 4.750%), 12/04/28 | 631,125 | 0.1 |
515,000 | | ViaSat, Inc. Term Loan, 6.140%, (SOFRRATE + 4.500%), 03/02/29 | 482,169 | 0.1 |
1,477,299 | | Zayo Group Holdings, Inc. USD Term Loan, 4.666%, (US0001M + 3.000%), 03/09/27 | 1,326,286 | 0.3 |
| | | 25,051,324 | 5.7 |
| | | | |
| | Utilities: 0.9% |
1,354,439 | | Edgewater Generation, L.L.C. Term Loan, 5.416%, (US0001M + 3.750%), 12/13/25 | 1,159,496 | 0.3 |
560,449 | | Generation Bridge Acquisition, LLC Term Loan B, 7.250%, (US0003M + 5.000%), 12/01/28 | 551,575 | 0.1 |
11,735 | | Generation Bridge Acquisition, LLC Term Loan C, 7.250%, (US0003M + 5.000%), 12/01/28 | 11,549 | 0.0 |
2,453,615 | | Nautilus Power, LLC Term Loan B, 5.916%, (US0001M + 4.250%), 05/16/24 | 1,939,634 | 0.4 |
491,288 | | Tiger Acquisition, LLC 2021 Term Loan, 4.916%, (US0001M + 3.250%), 06/01/28 | 439,088 | 0.1 |
| | | 4,101,342 | 0.9 |
| | | | |
| Total Loans | | |
| (Cost $450,618,111) | 417,705,234 | 95.6 |
| | | |
CORPORATE BONDS/NOTES: 3.6% | |
| | Basic Materials: 0.6% |
1,000,000 | # | INEOS Quattro Finance 2 Plc, 3.375%, 01/15/26 | 841,490 | 0.2 |
2,000,000 | # | LSF11 A5 Holdco LLC, 6.625%, 10/15/29 | 1,687,780 | 0.4 |
| | | 2,529,270 | 0.6 |
| | | | |
| | Communications: 0.5% |
500,000 | # | DISH DBS Corp., 5.250%, 12/01/26 | 392,857 | 0.1 |
500,000 | # | DISH DBS Corp., 5.750%, 12/01/28 | 371,143 | 0.1 |
1,000,000 | # | Gray Escrow II, Inc., 5.375%, 11/15/31 | 803,405 | 0.2 |
835,000 | # | Match Group Holdings II LLC, 3.625%, 10/01/31 | 659,191 | 0.1 |
| | | 2,226,596 | 0.5 |
| | | | |
| | Consumer, Cyclical: 1.0% |
530,000 | # | CROCS INC COMPANY GUAR 144A 08/31 4.125, 4.125%, 08/15/31 | 375,922 | 0.1 |
1,500,000 | # | Gap, Inc./The, 3.875%, 10/01/31 | 1,049,295 | 0.2 |
1,000,000 | # | LGI Homes, Inc, 4.000%, 07/15/29 | 747,930 | 0.2 |
220,000 | # | Macy's Retail Holdings LLC, 5.875%, 03/15/30 | 184,976 | 0.0 |
1,000,000 | # | Sonic Automotive, Inc., 4.625%, 11/15/29 | 776,155 | 0.2 |
835,000 | # | Tempur Sealy International, Inc., 3.875%, 10/15/31 | 628,145 | 0.1 |
1,000,000 | # | Wabash National Corp., 4.500%, 10/15/28 | 766,250 | 0.2 |
| | | 4,528,673 | 1.0 |
| | | | |
| | Consumer, Non-cyclical: 0.4% |
1,000,000 | # | ACCO Brands Corp., 4.250%, 03/15/29 | 821,050 | 0.2 |
500,000 | # | ADT Security Corp./The, 4.125%, 08/01/29 | 407,190 | 0.1 |
715,000 | # | Mozart Debt Merger Sub, Inc., 5.250%, 10/01/29 | 589,460 | 0.1 |
| | | 1,817,700 | 0.4 |
| | | | |
| | Energy: 0.4% |
1,000,000 | # | Hess Midstream Operations L.P., 4.250%, 02/15/30 | 839,350 | 0.2 |
Shares | | | Value | Percentage of Net Assets |
EQUITIES AND OTHER ASSETS: 1.0% |
408,271 | (4),(5) | 24 Hour Fitness Worldwide, Inc. | 153,918 | 0.1 |
544,388 | (4),(5) | 24 Hour Fitness Worldwide, Inc. - Preferred | 544,388 | 0.1 |
50,201 | (4),(5) | Cineworld Group PLC | 5,194 | 0.0 |
132,618 | (4),(5) | Covia Specialty Minerals, Inc. | 1,790,343 | 0.4 |
69,381 | (5) | Cumulus Media, Inc. Class-A | 536,315 | 0.1 |
7,543 | (4),(5) | Harvey Gulf International Marine LLC | 58,458 | 0.0 |
4,783 | (4),(5) | Harvey Gulf International Marine LLC - Warrants | 37,069 | 0.0 |
7,471 | (4),(5) | iQor | 33,619 | 0.0 |
102,480 | (4),(5) | Longview Power LLC | 1,281,000 | 0.3 |
6,829 | (4),(5) | Riverbed Technology, Inc. | 38,700 | 0.0 |
88,701 | (4),(5) | Save-A-Lot, Inc. / Moran Foods | – | 0.0 |
42,856 | (4),(5) | The Oneida Group (formerly EveryWare Global, Inc.) | 429 | 0.0 |
| Total Equities and Other Assets | | |
| (Cost $4,817,561) | 4,479,433 | 1.0 |
| | | |
| Total Long-Term Investments | | |
| (Cost $474,699,324) | 437,883,162 | 100.2 |
| | | |
SHORT-TERM INVESTMENTS: 3.0% |
| | Mutual Funds: 3.0% |
12,998,000 | (6) | State Street Institutional Liquid Reserves Fund - Premier Class, 1.490% | | |
| | (Cost $12,999,000) | | 12,996,700 | | 3.0 |
| | | | |
| Total Short-Term Investments | | |
| (Cost $12,999,000) | 12,996,700 | 3.0 |
| | | |
| Total Investments (Cost $487,698,324) | $ | 450,879,862 | 103.2 |
| Liabilities in Excess of Other Assets | (13,788,224) | | (3.2) |
| Net Assets | $ | 437,091,638 | | 100.0 |
The following is a summary of the fair valuations according to the inputs used as of June 30, 2022 in valuing the assets and liabilities:
The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio's assets and liabilities during the period ended June 30, 2022:
* Securities categorized as Level 3 were fair valued based on a single quotation obtained from a broker. The Fund does not have access to the unobservable inputs and therefore cannot disclose such inputs used in formulating such quotation.
** Senior loan transferred into Level 3 due to lack of significant other unobservable inputs.
** Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on Level 3 securities still held at June 30, 2022 may be due to securities no longer held or categorized as Level 3 at period end.
At June 30, 2022, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were: