Principal Amount† | | Borrower/Tranche Description | Fair Value | Percentage of Net Assets |
SENIOR LOANS*: 60.2% | |
| | Aerospace & Defense: 1.3% |
457,261 | | Amentum Government Services Holdings LLC 2022 Term Loan, 9.331%, (TSFR1M + 4.000%), 02/15/29 | $ | 456,404 | 0.4 |
150,000 | | Barnes Group Inc Term Loan B, 8.448%, (TSFR3M + 3.000%), 09/03/30 | 150,000 | 0.1 |
150,124 | | Dynasty Acquisition Co., Inc. 2023 Term Loan B1, 9.343%, (TSFR1M + 4.000%), 08/24/28 | 150,133 | 0.1 |
64,339 | | Dynasty Acquisition Co., Inc. 2023 Term Loan B2, 9.343%, (TSFR1M + 4.000%), 08/24/28 | 64,343 | 0.1 |
622,266 | | Peraton Corp. Term Loan B, 9.198%, (TSFR1M + 3.750%), 02/01/28 | 619,154 | 0.5 |
93,328 | | Vertex Aerospace Services Corp. 2021 First Lien Term Loan, 8.698%, (US0003M + 3.750%), 12/06/28 | 93,367 | 0.1 |
| | | 1,533,401 | 1.3 |
| | | | |
| | Air Transport: 0.8% |
294,900 | | LaserShip, Inc. 2021 Term Loan, 10.396%, (US0003M + 4.500%), 05/07/28 | 267,917 | 0.2 |
361,306 | | Savage Enterprises LLC 2021 Term Loan B, 8.713%, (TSFR1M + 3.250%), 09/15/28 | 361,854 | 0.3 |
317,353 | | ST GEO WARE + TR CO OF CAL INC 2022 TERM LOAN, 11.540%, (TSFR1M + 6.000%), 03/24/28 | 271,336 | 0.3 |
| | | 901,107 | 0.8 |
| | | | |
| | Auto Components: 1.3% |
684,000 | | Clarios Global LP 2023 Incremental Term Loan, 9.098%, (TSFR1M + 3.750%), 05/06/30 | 685,881 | 0.6 |
335,483 | | Holley Purchaser, Inc. 2021 Term Loan, 9.402%, (TSFR1M + 3.750%), 11/17/28 | 318,814 | 0.3 |
229,713 | | RC Buyer, Inc. 2021 Term Loan, 8.895%, (US0003M + 3.500%), 07/28/28 | 227,033 | 0.2 |
328,515 | | Truck Hero, Inc. 2021 Term Loan B, 9.213%, (TSFR1M + 3.750%), 01/31/28 | 316,401 | 0.2 |
| | | 1,548,129 | 1.3 |
| | | | |
| | Auto Parts&Equipment: 0.1% |
80,000 | | RealTruck Group, Inc. 2023 Incremental Term Loan, 10.436%, (TSFR1M + 5.000%), 01/31/28 | 78,400 | 0.1 |
| | | | |
| | Automotive: 0.9% |
183,389 | | Dealer Tire Financial, LLC Term Loan B2, 9.848%, (TSFR1M + 4.500%), 12/14/27 | 183,905 | 0.1 |
150,997 | | IXS Holdings, Inc. 2020 Term Loan B, 9.851%, (TSFR1M + 4.250%), 03/05/27 | 128,536 | 0.1 |
401,045 | | Les Schwab Tire Centers Term Loan B, 8.694%, (US0003M + 3.250%), 11/02/27 | 401,379 | 0.3 |
200,000 | | RC Buyer, Inc. 2021 2nd Lien Term Loan, 11.733%, (TSFR1M + 6.500%), 07/30/29 | 189,000 | 0.2 |
EUR 24,905 | | Thor Industries, Inc. 2021 EUR Term Loan, 6.847%, (EUR001M + 3.000%), 02/01/26 | 27,143 | 0.0 |
198,966 | | Wand NewCo 3, Inc. 2020 Term Loan, 8.124%, (US0001M + 3.000%), 02/05/26 | 199,271 | 0.2 |
| | | 1,129,234 | 0.9 |
| | | | |
| | Basic Materials: 0.8% |
215,000 | | Arsenal AIC Parent LLC Term Loan, 9.848%, (TSFR3M + 4.500%), 08/19/30 | 215,457 | 0.2 |
588,525 | | Ineos US Finance LLC 2023 USD Term Loan B, 8.843%, (TSFR1M + 3.500%), 02/18/30 | 584,531 | 0.5 |
146,000 | | Iris Holdings, Inc. 2022 Term Loan 1L, 10.233%, (TSFR1M + 4.750%), 06/28/28 | 131,467 | 0.1 |
| | | 931,455 | 0.8 |
| | | | |
| | Building & Development: 1.4% |
512,997 | | Applecaramel Buyer, LLC Term Loan B, 9.098%, (TSFR1M + 3.750%), 10/19/27 | 513,405 | 0.4 |
227,429 | | Cornerstone Building Brands, Inc. 2021 Term Loan B, 8.673%, (US0003M + 3.250%), 04/12/28 | 222,596 | 0.2 |
130,659 | | LBM Acquisition LLC Term Loan B, 9.093%, (US0001M + 3.750%), 12/17/27 | 125,862 | 0.1 |
84,873 | | LHS Borrower, LLC 2022 Term Loan B, 10.070%, (SOFRRATE + 4.750%), 02/16/29 | | 74,829 | 0.1 |
248,744 | | Oscar AcquisitionCo, LLC Term Loan B, 9.990%, (SOFRRATE + 4.500%), 04/29/29 | 244,018 | 0.2 |
291,797 | | Quikrete Holdings, Inc. 2023 Term Loan B, 8.213%, (TSFR1M + 2.750%), 03/19/29 | 292,271 | 0.3 |
149,235 | | Wilsonart LLC 2021 Term Loan E, 8.740%, (US0003M + 3.500%), 12/31/26 | 148,955 | 0.1 |
| | | 1,621,936 | 1.4 |
| | | | |
| | Business Equipment & Services: 1.4% |
280,013 | | Anticimex International AB 2021 USD Incremental Term Loan, 8.960%, (SOFRRATE + 3.900%), 11/16/28 | 278,496 | 0.2 |
250,000 | | APX Group, Inc. 2021 Term Loan B, 8.929%, (US0001M + 3.250%), 07/10/28 | 250,312 | 0.2 |
243,994 | | Endure Digital Inc. Term Loan, 9.422%, (US0001M + 3.500%), 02/10/28 | 236,140 | 0.2 |
226,300 | | Ensono, LP 2021 Term Loan, 9.463%, (US0003M + 3.750%), 05/26/28 | 216,918 | 0.2 |
399,552 | | Pre-Paid Legal Services, Inc. 2021 Term Loan, 8.963%, (US0001M + 3.750%), 12/15/28 | 396,954 | 0.4 |
250,000 | | VM Consolidated, Inc. 2021 Term Loan B, 8.593%, (US0006M + 3.250%), 03/24/28 | 250,977 | 0.2 |
| | | 1,629,797 | 1.4 |
| | | | |
| | Chemicals & Plastics: 1.4% |
588,909 | | Charter NEX US, Inc. 2021 Term Loan, 9.213%, (TSFR1M + 3.750%), 12/01/27 | 587,279 | 0.5 |
40,044 | | IPS Corporation 2021 Term Loan, 9.198%, (US0001M + 3.750%), 10/02/28 | 39,268 | 0.0 |
443,888 | | LSF11 A5 Holdco LLC 2023 Incremental Term Loan B, 9.698%, (TSFR1M + 4.250%), 10/15/28 | 439,634 | 0.4 |
99,490 | | PQ Corporation 2021 Term Loan B, 7.983%, (US0003M + 2.500%), 06/09/28 | 99,376 | 0.1 |
463,838 | | Starfruit Finco B.V 2023 Term Loan, 9.423%, (TSFR1M + 4.000%), 04/03/28 | 461,132 | 0.4 |
| | | 1,626,689 | 1.4 |
| | | | |
| | Clothing/Textiles: 0.3% |
63,290 | | Birkenstock GmbH & Co. KG USD Term Loan B, 8.894%, (US0006M + 3.250%), 04/28/28 | 63,431 | 0.1 |
259,350 | | Samsonite International S.A. 2023 Term Loan, 8.098%, (TSFR1M + 2.750%), 06/21/30 | 260,214 | 0.2 |
| | | 323,645 | 0.3 |
| | | | |
| | Commodities: 0.6% |
149,237 | | Foundation Building Materials Holding Company LLC 2021 Term Loan, 8.894%, (US0003M + 3.250%), 01/31/28 | 147,558 | 0.1 |
201,925 | | Specialty Building Products Holdings, LLC 2021 Term Loan B, 9.198%, (US0001M + 3.250%), 10/15/28 | 198,938 | 0.2 |
190,000 | | Windsor Holdings III, LLC USD Term Loan B, 9.820%, (TSFR1M + 4.500%), 08/01/30 | 190,778 | 0.2 |
168,825 | | Yak Access, LLC 2023 Term Loan, 11.976%, (TSFR1M + 6.400%), 03/10/28 | 149,973 | 0.1 |
| | | 687,247 | 0.6 |
| | | | |
| | Communications: 0.8% |
288,468 | | AP Core Holdings II, LLC Amortization Term Loan B1, 10.963%, (US0001M + 5.500%), 09/01/27 | 283,600 | 0.3 |
163,346 | | Global Tel*Link Corporation 2018 1st Lien Term Loan, 9.783%, (US0001M + 4.250%), 11/29/25 | 157,745 | 0.1 |
6,510 | (1),(8) | GTT Communications, Inc. 2022 Opco Term Loan, (TSFR1M + 4.618%), (PIK Rate 12.448%, Cash Rate 0.000%), 12/30/27 | 5,647 | 0.0 |
239,488 | | Tiger Acquisition, LLC 2021 Term Loan, 8.698%, (TSFR1M + 3.250%), 06/01/28 | 237,192 | 0.2 |
280,000 | | WeddingWire, Inc. 2023 Term Loan, 9.871%, (TSFR3M + 4.500%), 01/31/28 | 277,200 | 0.2 |
| | | 961,384 | 0.8 |
| | | | |
| | Consumer, Cyclical: 1.9% |
247,095 | | Ascend Learning, LLC 2021 Term Loan, 8.948%, (TSFR1M + 3.500%), 12/11/28 | 241,883 | 0.2 |
355,898 | | BIFM CA Buyer Inc. Term Loan B, 8.963%, (TSFR1M + 3.500%), 06/01/26 | 355,602 | 0.3 |
465,309 | | Bombardier Recreational Products. Inc. 2023 TERM LOAN B3, 8.091%, (TSFR1M + 2.750%), 12/13/29 | | 464,824 | 0.4 |
483,783 | | GVC Holdings (Gibraltar) Limited 2022 Term Loan B, 8.990%, (TSFR1M + 3.500%), 10/31/29 | 484,871 | 0.4 |
370,000 | | Homeserve USA Holding Corp Term Loan, 8.331%, (TSFR1M + 3.000%), 10/21/30 | 370,308 | 0.3 |
14,258 | | Motion Finco Sarl Delayed Draw Term Loan B2, 8.902%, (US0006M + 3.250%), 11/04/26 | 14,251 | 0.0 |
100,016 | | Motion Finco Sarl USD Term Loan B1, 8.903%, (US0003M + 3.250%), 11/12/26 | 99,963 | 0.1 |
210,000 | | Spring Education Group, Inc Term Loan, 9.914%, (TSFR3M + 4.500%), 10/04/30 | 209,978 | 0.2 |
| | | 2,241,680 | 1.9 |
| | | | |
| | Consumer, Non-cyclical: 0.3% |
375,000 | | KUEHG Corp. 2023 Term Loan, 10.390%, (TSFR1M + 5.000%), 06/12/30 | 375,967 | 0.3 |
| | | | |
| | Containers & Glass Products: 2.2% |
149,235 | | Altium Packaging LLC 2021 Term Loan B, 8.213%, (US0001M + 2.750%), 02/03/28 | 148,640 | 0.1 |
300,223 | | Plastipak Packaging, Inc. 2021 Term Loan B, 7.948%, (US0001M + 2.500%), 12/01/28 | 300,411 | 0.3 |
120,209 | | Plaze, Inc. 2020 Incremental Term Loan, 9.093%, (US0001M + 3.750%), 08/03/26 | 115,751 | 0.1 |
125,000 | | Pretium PKG Holdings, Inc. 2021 2nd Lien Term Loan, 12.190%, (US0003M + 6.750%), 10/01/29 | 52,708 | 0.1 |
491,390 | | Pro Mach Group, Inc. 2021 Term Loan B, 9.463%, (US0001M + 4.000%), 08/31/28 | 492,618 | 0.4 |
310,000 | | Proampac PG Borrower LLC 2023 Term Loan, 9.881%, (TSFR3M + 4.500%), 09/15/28 | 308,450 | 0.3 |
492,157 | | Titan Acquisition Limited 2018 Term Loan B, 8.731%, (US0003M + 3.000%), 03/28/25 | 488,692 | 0.4 |
149,617 | | TricorBraun Holdings, Inc. 2021 Term Loan, 8.713%, (US0001M + 3.250%), 03/03/28 | 146,557 | 0.1 |
39,708 | | Trident TPI Holdings, Inc. 2021 Incremental Term Loan, 9.652%, (US0003M + 4.000%), 09/15/28 | 38,892 | 0.0 |
491,288 | | Trident TPI Holdings, Inc. 2022 USD Incremental Term Loan, 10.640%, (TSFR1M + 5.250%), 09/15/28 | 486,989 | 0.4 |
| | | 2,579,708 | 2.2 |
| | | | |
| | Drugs: 0.1% |
171,017 | | Amneal Pharmaceuticals LLC 2023 Term Loan B, 10.822%, (TSFR1M + 5.500%), 05/04/28 | 163,321 | 0.1 |
| | | | |
| | Electric: 0.1% |
149,451 | | Generation Bridge Northeast, LLC Term Loan B, 9.598%, (TSFR3M + 4.250%), 08/22/29 | 150,011 | 0.1 |
| | | | |
| | Electronics: 0.4% |
450,000 | | Ingram Micro Inc. 2023 Term Loan, 8.653%, (TSFR3M + 3.000%), 06/30/28 | 449,719 | 0.4 |
| | | | |
| | Electronics/Electrical: 1.7% |
409,813 | | Altar Bidco, Inc. 2021 Term Loan, 8.142%, (US0003M + 3.350%), 02/01/29 | 408,340 | 0.4 |
139,891 | | Chamberlain Group Inc Term Loan B, 8.698%, (TSFR1M + 3.250%), 11/03/28 | 137,278 | 0.1 |
280,725 | | Creation Technologies Inc. 2021 Term Loan, 11.176%, (US0003M + 5.500%), 10/05/28 | 268,092 | 0.2 |
150,000 | | DG Investment Intermediate Holdings 2, Inc. 2021 2nd Lien Term Loan, 12.213%, (TSFR1M + 6.750%), 03/30/29 | 134,250 | 0.1 |
347,262 | | DG Investment Intermediate Holdings 2, Inc. 2021 Term Loan, 9.213%, (TSFR1M + 3.750%), 03/31/28 | 340,750 | 0.3 |
99,738 | | EagleView Technology Corporation 2018 Add On Term Loan B, 9.153%, (US0003M + 3.500%), 08/14/25 | 95,873 | 0.1 |
261,644 | | II-VI Incorporated 2022 Term Loan B, 8.189%, (US0001M + 2.750%), 07/02/29 | 261,767 | 0.2 |
176,850 | | Illuminate Merger Sub Corp. 1st Lien Term Loan, 8.652%, (US0003M + 3.000%), 07/21/28 | 174,182 | 0.2 |
149,177 | | Project Boost Purchaser, LLC 2019 Term Loan B, 8.963%, (US0001M + 3.500%), 06/01/26 | | 149,146 | 0.1 |
| | | 1,969,678 | 1.7 |
| | | | |
| | Energy: 1.3% |
328,350 | | Brazos Delaware II, LLC 2023 Term Loan B, 9.080%, (TSFR1M + 3.750%), 02/11/30 | 328,829 | 0.3 |
591,066 | | Covia Holdings Corporation 2020 Take Back Term Loan, 9.676%, (US0003M + 4.000%), 07/31/26 | 588,037 | 0.5 |
369,725 | | Oryx Midstream Services Permian Basin LLC Term Loan B, 8.694%, (TSFR1M + 3.250%), 10/05/28 | 370,256 | 0.3 |
240,845 | | Profrac Services, LLC 2022 Term Loan, 12.902%, (SOFRRATE + 7.250%), 03/04/25 | 242,049 | 0.2 |
| | | 1,529,171 | 1.3 |
| | | | |
| | Equipment Leasing: 0.1% |
92,665 | | Rent-A-Center, Inc. 2021 First Lien Term Loan B, 9.119%, (US0003M + 3.250%), 02/17/28 | 92,510 | 0.1 |
| | | | |
| | Farming/Agriculture: 0.1% |
160,000 | | Ceva Sante Animale 2023 USD Term Loan B, 9.619%, (TSFR3M + 4.250%), 11/01/30 | 160,000 | 0.1 |
| | | | |
| | Financial: 3.8% |
457,298 | | Alliant Holdings Intermediate, LLC 2023 Term Loan B5, 8.831%, (TSFR1M + 3.500%), 11/05/27 | 458,314 | 0.4 |
694,750 | | AmWINS Group, Inc. 2023 Incremental Term Loan B, 8.213%, (TSFR1M + 2.750%), 02/19/28 | 696,975 | 0.6 |
404,813 | | Aretec Group, Inc. 2018 Term Loan, 9.593%, (TSFR1M + 4.250%), 10/01/25 | 405,034 | 0.3 |
115,062 | | Brookfield Property REIT Inc. 1st Lien Term Loan B, 7.948%, (US0001M + 2.500%), 08/27/25 | 114,567 | 0.1 |
782,608 | | Citadel Securities LP 2023 Term Loan B, 7.963%, (TSFR3M + 2.500%), 07/29/30 | 783,231 | 0.6 |
275,000 | | Cushman & Wakefield U.S. Borrower, LLC 2023 Term Loan B, 9.348%, (TSFR1M + 4.000%), 01/31/30 | 270,188 | 0.2 |
439,088 | | Edelman Financial Center, LLC 2021 Term Loan B, 8.963%, (US0001M + 3.750%), 04/07/28 | 435,411 | 0.4 |
220,774 | | Focus Financial Partners, LLC 2021 Term Loan, 7.848%, (TSFR1M + 2.500%), 06/30/28 | 220,422 | 0.2 |
242,550 | | Focus Financial Partners, LLC 2022 Term Loan B5, 8.598%, (TSFR1M + 3.250%), 06/30/28 | 242,853 | 0.2 |
80,000 | | Focus Financial Partners, LLC 2023 Term Loan B6, 8.848%, (TSFR1M + 3.500%), 06/30/28 | 80,158 | 0.1 |
330,000 | (8) | GTCR W Merger Sub LLC USD Term Loan B, 09/20/30 | 330,206 | 0.3 |
289,100 | | HighTower Holdings LLC 2021 Term Loan B, 9.380%, (US0001M + 4.000%), 04/21/28 | 288,137 | 0.2 |
203,975 | | RHP Hotel Properties, LP 2023 Term Loan B, 8.098%, (SOFRRATE + 2.750%), 05/18/30 | 204,272 | 0.2 |
3 | | Victory Capital Holdings, Inc. 2021 Term Loan B, 7.619%, (TSFR1M + 2.250%), 07/01/26 | 3 | 0.0 |
| | | 4,529,771 | 3.8 |
| | | | |
| | Financial Intermediaries: 0.7% |
214,444 | | Advisor Group, Inc. 2023 Term Loan B, 9.848%, (TSFR3M + 4.500%), 08/17/28 | 214,887 | 0.2 |
367,883 | | AqGen Island Holdings, Inc. Term Loan, 8.963%, (US0001M + 3.500%), 08/02/28 | 365,890 | 0.3 |
311,850 | | VFH Parent LLC 2022 Term Loan B, 8.448%, (SOFRRATE + 3.000%), 01/13/29 | 311,655 | 0.2 |
| | | 892,432 | 0.7 |
| | | | |
| | Food Products: 1.6% |
350,027 | | 8th Avenue Food & Provisions, Inc. 2018 1st Lien Term Loan, 9.213%, (TSFR1M + 3.750%), 10/01/25 | 331,213 | 0.3 |
96,005 | | B&G Foods, Inc. 2019 Term Loan B4, 7.848%, (US0001M + 2.500%), 10/10/26 | 94,475 | 0.1 |
423,522 | | CHG PPC Parent LLC 2021 Term Loan, 8.463%, (US0001M + 3.000%), 12/08/28 | 424,051 | 0.4 |
304,286 | | Dessert Holdings Inc. Term Loan, 9.463%, (US0003M + 4.000%), 06/09/28 | 272,336 | 0.2 |
538,060 | | IRB Holding Corp 2022 Term Loan B, 8.448%, (TSFR1M + 3.000%), 12/15/27 | | 537,785 | 0.4 |
250,000 | | Primary Products Finance LLC Term Loan, 9.386%, (US0003M + 4.000%), 03/31/29 | 250,424 | 0.2 |
| | | 1,910,284 | 1.6 |
| | | | |
| | Food Service: 0.0% |
38,188 | | K-Mac Holdings Corp 2021 2nd Lien Term Loan, 12.198%, (US0003M + 6.750%), 07/30/29 | 36,644 | 0.0 |
| | | | |
| | Food/Drug Retailers: 0.6% |
488,305 | (2) | Moran Foods, LLC 2022 Extended Term Loan, 12.740%, (TSFR3M + 4.680%), 06/30/26 | 415,060 | 0.3 |
244,482 | (2),(8) | Moran Foods, LLC 2023 FLFO PIK Term Loan, 2.000%, 06/30/26 | 207,810 | 0.2 |
448,556 | (2) | Moran Foods, LLC 2023 FLSO PIK Term Loan 1, 2.000%, (TSFR3M + 2.000%), 06/30/26 | 98,682 | 0.1 |
| | | 721,552 | 0.6 |
| | | | |
| | Health Care: 3.5% |
216,150 | | ANI Pharmaceuticals, Inc Term Loan B, 11.463%, (TSFR1M + 6.000%), 11/19/27 | 216,690 | 0.2 |
681,401 | | Athenahealth, Inc. 2022 Term Loan B, 8.598%, (TSFR1M + 3.500%), 02/15/29 | 670,470 | 0.6 |
209,019 | | CCRR Parent, Inc Term Loan B, 9.213%, (US0001M + 3.750%), 03/06/28 | 198,046 | 0.2 |
298,500 | | Covetrus, Inc. 2022 1st Lien Term Loan, 10.390%, (TSFR1M + 5.000%), 10/13/29 | 295,542 | 0.3 |
209,624 | | Gloves Buyer, Inc. 2021 Term Loan, 9.343%, (US0001M + 4.000%), 12/29/27 | 205,956 | 0.2 |
140,000 | (8) | IQVIA Inc. 2023 USD Term Loan B4, 1/02/31 | 140,437 | 0.1 |
150,000 | (8) | IVC Acquisition Ltd 2023 USD Term Loan B, 11/17/28 | 149,062 | 0.1 |
320,383 | | Medical Solutions Holdings, Inc. 2021 1st Lien Term Loan, 8.698%, (TSFR1M + 3.250%), 11/01/28 | 292,883 | 0.3 |
7,590 | | National Mentor Holdings, Inc. 2021 Term Loan C, 9.240%, (US0003M + 3.750%), 03/02/28 | 6,937 | 0.0 |
266,726 | | National Mentor Holdings, Inc. 2021 Term Loan, 9.207%, (US0003M + 3.750%), 03/02/28 | 243,788 | 0.2 |
269,427 | | Pacific Dental Services,LLC 2021 Term Loan, 8.957%, (US0003M + 3.500%), 05/05/28 | 269,764 | 0.2 |
283,707 | | Phoenix Guarantor Inc 2020 Term Loan B, 8.713%, (US0001M + 3.250%), 03/05/26 | 283,463 | 0.2 |
249,361 | | Phoenix Guarantor Inc 2021 Term Loan B3, 8.963%, (US0001M + 3.500%), 03/05/26 | 249,146 | 0.2 |
146,250 | | PointClickCare Technologies, Inc. Term Loan B, 8.765%, (US0001M + 3.000%), 12/29/27 | 146,250 | 0.1 |
243,151 | | RxBenefits, Inc. 2020 Term Loan, 9.821%, (US0003M + 4.500%), 12/20/27 | 241,833 | 0.2 |
290,000 | | Sotera Health Holdings, LLC 2021 Term Loan, 8.395%, (US0003M + 2.750%), 12/11/26 | 289,049 | 0.2 |
210,000 | | Star Parent, Inc. Term Loan B, 9.386%, (TSFR3M + 4.000%), 09/27/30 | 205,789 | 0.2 |
| | | 4,105,105 | 3.5 |
| | | | |
| | Holding Companies-Divers: 0.5% |
555,000 | | Belfor Holdings Inc. 2023 USD Term Loan B, 9.098%, (TSFR1M + 3.750%), 11/01/30 | 555,694 | 0.5 |
| | | | |
| | Home Builders: 0.1% |
150,000 | | Thor Industries, Inc. 2023 USD Term Loan B2, 8.073%, (TSFR1M + 2.750%), 11/15/30 | 150,844 | 0.1 |
| | | | |
| | Industrial: 3.4% |
231,389 | | ADS Tactical, Inc. 2021 Term Loan B, 11.213%, (US0001M + 5.750%), 03/19/26 | 229,075 | 0.2 |
181,354 | | Aegion Corporation Term Loan, 10.395%, (US0003M + 4.750%), 05/17/28 | 179,842 | 0.2 |
214,450 | | AlixPartners, LLP 2021 USD Term Loan B, 8.213%, (US0001M + 2.750%), 02/04/28 | 214,986 | 0.2 |
171,400 | | Allied Universal Holdco LLC 2021 USD Incremental Term Loan B, 9.198%, (TSFR1M + 3.750%), 05/12/28 | 167,126 | 0.1 |
145,125 | | Amentum Government Services Holdings LLC Term Loan B, 9.463%, (US0001M + 3.500%), 01/29/27 | | 145,216 | 0.1 |
575,000 | | ASGN Incorporated 2023 Term Loan B, 7.598%, (TSFR1M + 2.250%), 08/30/30 | 578,414 | 0.5 |
153,450 | | Brown Group Holding LLC 2022 Term Loan B2 1L, 9.117%, (TSFR1M + 3.750%), 07/02/29 | 153,762 | 0.1 |
187,854 | | Covanta Holding Corporation 2021 Term Loan B, 7.843%, (TSFR1M + 2.500%), 11/30/28 | 187,384 | 0.2 |
14,286 | | Covanta Holding Corporation 2021 Term Loan C, 7.843%, (TSFR1M + 2.500%), 11/30/28 | 14,250 | 0.0 |
350,563 | | Crown Subsea Communications Holding,Inc. 2023 Incremental Term Loan, 10.685%, (TSFR1M + 5.250%), 04/27/27 | 352,534 | 0.3 |
146,625 | | Denali Water Solutions Term Loan B, 9.790%, (TSFR1M + 4.250%), 03/27/28 | 138,561 | 0.1 |
229,587 | | Emrld Borrower LP Term Loan B, 8.348%, (SOFRRATE + 3.000%), 05/31/30 | 229,997 | 0.2 |
201,243 | | ENC Holding Corporation 2021 Term Loan, 9.902%, (US0003M + 4.250%), 08/19/28 | 168,038 | 0.2 |
164,588 | | LSF11 Trinity Bidco, Inc. Term Loan, 9.573%, (TSFR1M + 4.500%), 06/14/30 | 164,999 | 0.1 |
215,000 | | NCR Atleos LLC Term Loan B, 10.198%, (TSFR3M + 4.750%), 03/22/29 | 211,058 | 0.2 |
274,275 | | Rockwood Service Corporation 2020 Term Loan, 9.712%, (US0001M + 4.250%), 01/23/27 | 274,960 | 0.2 |
124,362 | | Service Logic Acquisition, Inc Term Loan, 9.644%, (US0003M + 4.000%), 10/29/27 | 124,440 | 0.1 |
305,349 | | U.S. Silica Company 2023 Term Loan B, 10.198%, (TSFR1M + 4.750%), 03/25/30 | 306,112 | 0.3 |
160,000 | | VT Topco, Inc. 2023 Term Loan B, 9.598%, (TSFR3M + 4.250%), 08/10/30 | 160,350 | 0.1 |
| | | 4,001,104 | 3.4 |
| | | | |
| | Industrial Equipment: 2.0% |
241,604 | | AI Aqua Merger Sub, Inc. 2021 1st Lien Term Loan B, 9.071%, (US0003M + 3.750%), 07/31/28 | 237,779 | 0.2 |
240,000 | (8) | AI Aqua Merger Sub, Inc. 2023 Incremental Term Loan, 07/31/28 | 237,360 | 0.2 |
117,731 | | Alliance Laundry Systems LLC Term Loan B, 8.994%, (US0003M + 3.500%), 10/08/27 | 118,018 | 0.1 |
198,985 | | Conair Holdings, LLC Term Loan B, 9.213%, (US0003M + 3.750%), 05/17/28 | 191,087 | 0.2 |
155,000 | | CPM Holdings, Inc. 2023 Term Loan, 9.827%, (TSFR1M + 4.500%), 09/28/28 | 155,226 | 0.1 |
402,975 | | Filtration Group Corporation 2023 USD Term Loan, 9.713%, (TSFR1M + 4.250%), 10/21/28 | 404,276 | 0.3 |
150,000 | | LSF12 Badger Bidco LLC Term Loan B, 11.348%, (TSFR1M + 6.000%), 07/25/30 | 149,813 | 0.1 |
244,926 | | SPX Flow, Inc. 2022 Term Loan, 9.948%, (TSFR1M + 4.500%), 04/05/29 | 244,707 | 0.2 |
228,851 | | Vertical US Newco Inc Term Loan B, 9.381%, (US0006M + 3.500%), 07/30/27 | 229,066 | 0.2 |
422,617 | | Watlow Electric Manufacturing Company Term Loan B, 9.119%, (US0003M + 3.750%), 03/02/28 | 419,271 | 0.4 |
| | | 2,386,603 | 2.0 |
| | | | |
| | Insurance: 3.8% |
875,880 | | Acrisure, LLC 2020 Term Loan B, 9.150%, (US0001M + 3.500%), 02/15/27 | 870,588 | 0.7 |
240,713 | | Acrisure, LLC 2021 First Lien Term Loan B, 9.900%, (US0001M + 4.250%), 02/15/27 | 240,788 | 0.2 |
556,525 | | AssuredPartners, Inc. 2022 Term Loan, 8.848%, (TSFR1M + 3.500%), 02/12/27 | 556,803 | 0.5 |
150,000 | | Howden Group Holdings Ltd 2023 USD Term Loan B, 9.341%, (TSFR1M + 4.000%), 04/18/30 | 150,328 | 0.1 |
605,000 | | HUB International Limited 2023 Term Loan B, 9.662%, (TSFR1M + 4.250%), 06/20/30 | 608,072 | 0.5 |
395,000 | | IMA Financial Group, Inc. Term Loan, 8.843%, (US0001M + 3.500%), 11/01/28 | | 394,753 | 0.3 |
260,443 | | OneDigital Borrower LLC 2021 Term Loan, 9.698%, (SOFRRATE + 4.250%), 11/16/27 | 259,467 | 0.2 |
545,850 | | Ryan Specialty Group, LLC Term Loan, 8.448%, (TSFR1M + 3.000%), 09/01/27 | 547,271 | 0.5 |
310,000 | (8) | USI, Inc. 2023 Acquisition Term Loan, 8.640%, 09/14/30 | 310,194 | 0.3 |
620,000 | | USI, Inc. 2023 Refi Term Loan, 8.640%, (TSFR3M + 3.250%), 09/14/30 | 620,388 | 0.5 |
| | | 4,558,652 | 3.8 |
| | | | |
| | Leisure Good/Activities/Movies: 2.3% |
377,653 | (1) | 24 Hour Fitness Worldwide, Inc. 2021 Delayed Draw Term Loan, 7.650%, (US0003M + 2.000%), (PIK Rate 7.000%, Cash Rate 7.650%), 09/29/25 | 311,564 | 0.3 |
403,467 | | 24 Hour Fitness Worldwide, Inc. 2021 Exit Delayed Draw Term Loan, 19.651%, (US0003M + 14.000%), 09/29/26 | 211,820 | 0.2 |
319,150 | | Cinemark USA, Inc. 2023 Term Loan B, 9.107%, (TSFR1M + 3.750%), 05/24/30 | 319,988 | 0.3 |
149,241 | | City Football Group Limited Term Loan, 8.455%, (US0003M + 3.500%), 07/21/28 | 148,588 | 0.1 |
164,545 | (8) | ClubCorp Holdings, Inc. 2023 Term Loan B2, 10.649%, 09/18/26 | 157,963 | 0.1 |
124,935 | | Fender Musical Instruments Corporation 2021 Term Loan B, 9.441%, (SOFRRATE + 4.000%), 12/01/28 | 122,437 | 0.1 |
125,000 | | Fitness International, LLC 2018 Term Loan B, 8.698%, (US0003M + 3.250%), 04/18/25 | 124,687 | 0.1 |
500,000 | | Formula One Holdings Limited Term Loan B, 7.598%, (SOFRRATE + 3.000%), 01/15/30 | 501,172 | 0.4 |
291,430 | | Hayward Industries, Inc. 2022 Term Loan, 8.698%, (TSFR1M + 3.250%), 05/30/28 | 289,244 | 0.3 |
147,375 | | Lakeshore Intermediate LLC Term Loan, 8.843%, (US0001M + 3.500%), 09/29/28 | 147,172 | 0.1 |
285,000 | | Renaissance Learning, Inc. 2018 Add On Term Loan, 10.098%, (TSFR1M + 4.750%), 04/05/30 | 285,054 | 0.2 |
149,250 | | Topgolf Callaway Brands Corp. Term Loan B, 8.948%, (TSFR1M + 3.500%), 03/15/30 | 149,023 | 0.1 |
| | | 2,768,712 | 2.3 |
| | | | |
| | Lodging: 0.3% |
305,000 | | Hilton Domestic Operating Company, Inc. 2023 Term Loan B4, 7.443%, (TSFR1M + 2.000%), 11/08/30 | 305,572 | 0.3 |
| | | | |
| | Lodging & Casinos: 2.2% |
304,238 | | Alterra Mountain Company 2023 Term Loan B, 9.198%, (SOFRRATE + 3.750%), 05/31/30 | 305,759 | 0.2 |
149,620 | | Century Casinos, Inc 2022 Term Loan, 11.420%, (TSFR1M + 6.000%), 04/02/29 | 144,477 | 0.1 |
346,482 | | Fertitta Entertainment, LLC 2022 Term Loan B, 9.348%, (SOFRRATE + 4.000%), 01/27/29 | 344,172 | 0.3 |
695,000 | | Flutter Entertainment PLC Term Loan B, 7.619%, (TSFR3M + 2.250%), 11/15/30 | 694,710 | 0.6 |
219,828 | | Flynn Restaurant Group LP 2021 Term Loan B, 9.713%, (TSFR1M + 4.250%), 12/01/28 | 219,897 | 0.2 |
269,325 | | Kingpin Intermediate Holdings LLC 2023 Term Loan B, 8.848%, (TSFR1M + 3.500%), 02/08/28 | 267,768 | 0.2 |
327,500 | (2),(3),(4),(5) | NPC International, Inc. 2nd Lien Term Loan, 1.000%, 04/18/25 | – | 0.0 |
331,650 | | Scientific Games Holdings LP 2022 USD Term Loan B, 8.914%, (TSFR1M + 3.500%), 04/04/29 | 330,536 | 0.3 |
230,683 | | Twin River Worldwide Holdings, Inc. 2021 Term Loan B, 8.927%, (US0003M + 3.250%), 10/02/28 | 213,151 | 0.2 |
124,683 | | Whatabrands LLC 2021 Term Loan B, 8.463%, (US0001M + 3.250%), 08/03/28 | 124,769 | 0.1 |
| | | 2,645,239 | 2.2 |
| | | | |
| | Mortgage REITs: 0.1% |
74,617 | | Blackstone Mortgage Trust, Inc. 2021 Term Loan B2, 8.213%, (US0001M + 2.750%), 04/23/26 | 73,125 | 0.1 |
| | Oil & Gas: 1.1% |
170,000 | | GIP Pilot Acquisition Partners LP Term Loan, 8.388%, (TSFR3M + 3.000%), 10/04/30 | 170,000 | 0.1 |
208,049 | | M6 ETX Holdings II Midco LLC 2022 Term Loan B 1L, 9.943%, (TSFR1M + 4.500%), 09/19/29 | 208,200 | 0.2 |
224,429 | | Medallion Midland Acquisition, LLC 2021 Term Loan, 9.402%, (US0001M + 3.750%), 10/18/28 | 225,037 | 0.2 |
190,353 | | TransMontaigne Operating Company L.P. Term Loan B, 8.963%, (US0003M + 3.500%), 11/17/28 | 190,249 | 0.2 |
476,602 | | Traverse Midstream Partners LLC 2017 Term Loan, 9.240%, (TSFR1M + 3.750%), 02/16/28 | 476,999 | 0.4 |
| | | 1,270,485 | 1.1 |
| | | | |
| | Pipelines: 0.3% |
250,000 | | NorthRiver Midstream Finance LP 2023 USD Term Loan B, 8.395%, (TSFR3M + 3.000%), 08/16/30 | 250,295 | 0.2 |
159,600 | | Whitewater Whistler Holdings, LLC 2023 Term Loan B, 8.146%, (TSFR3M + 2.750%), 02/15/30 | 159,966 | 0.1 |
| | | 410,261 | 0.3 |
| | | | |
| | Radio & Television: 1.7% |
435,301 | | CMG Media Corporation 2021 Term Loan, 8.990%, (US0003M + 3.500%), 12/17/26 | 401,021 | 0.3 |
1,718,469 | (3),(4),(5),(8) | Diamond Sports Group, LLC 2022 2nd Lien Term Loan, (TSFR1M + 3.250%), 08/24/26 | 41,171 | 0.0 |
590,653 | | DirecTV Financing, LLC Term Loan, 10.645%, (US0001M + 5.000%), 08/02/27 | 582,347 | 0.5 |
184,041 | | E.W. Scripps Company (The) 2019 Term Loan B2, 8.025%, (US0001M + 2.560%), 05/01/26 | 181,324 | 0.2 |
248,804 | | Gray Television, Inc. 2021 Term Loan D, 8.435%, (TSFR1M + 3.000%), 12/01/28 | 242,654 | 0.2 |
249,370 | | Houghton Mifflin Harcourt Publishing Company 2022 Term Loan, 10.698%, (TSFR1M + 5.250%), 04/09/29 | 241,850 | 0.2 |
150,000 | | Red Ventures, LLC 2023 Term Loan B, 8.348%, (TSFR1M + 3.000%), 03/03/30 | 149,602 | 0.1 |
230,000 | | Simon & Schuster Inc Term Loan B, 9.390%, (TSFR3M + 4.000%), 10/30/30 | 230,192 | 0.2 |
2,531 | | Sinclair Television Group Inc. Term Loan B2B, 7.963%, (TSFR1M + 2.500%), 09/30/26 | 2,214 | 0.0 |
| | | 2,072,375 | 1.7 |
| | | | |
| | Rail Industries: 0.8% |
190,841 | | Avis Budget Car Rental, LLC 2022 Term Loan C, 8.948%, (TSFR1M + 3.500%), 03/16/29 | 191,198 | 0.2 |
209,591 | | Hertz Corporation, (The) 2021 Term Loan B, 8.713%, (US0003M + 3.250%), 06/30/28 | 207,364 | 0.2 |
40,409 | | Hertz Corporation, (The) 2021 Term Loan C, 8.713%, (US0001M + 3.250%), 06/30/28 | 39,980 | 0.0 |
190,000 | | Hertz Corporation, (The) 2023 Incremental Term Loan B, 9.140%, (TSFR1M + 3.750%), 06/30/28 | 188,080 | 0.2 |
1,011 | | Kenan Advantage Group, Inc. 2021 Term Loan B1, 9.213%, (TSFR1M + 3.750%), 03/24/26 | 1,010 | 0.0 |
269,325 | | Kenan Advantage Group, Inc. 2023 Term Loan B2, 9.463%, (TSFR3M + 4.000%), 03/24/26 | 269,056 | 0.2 |
| | | 896,688 | 0.8 |
| | | | |
| | Retail: 0.1% |
149,250 | | Sally Holdings, LLC 2023 CovLite Term Loan B, 7.598%, (TSFR1M + 2.250%), 02/28/30 | 149,810 | 0.1 |
| | | | |
| | Retailers (Except Food & Drug): 0.8% |
472,846 | | Great Outdoors Group, LLC 2021 Term Loan B1, 9.402%, (US0001M + 3.750%), 03/06/28 | 469,924 | 0.4 |
219,425 | | Harbor Freight Tools USA, Inc. 2021 Term Loan B, 8.093%, (US0001M + 2.750%), 10/19/27 | 218,178 | 0.2 |
148,603 | | Petco Health and Wellness Company, Inc. 2021 Term Loan B, 8.902%, (US0003M + 3.250%), 03/03/28 | 140,838 | 0.1 |
138,345 | | Staples, Inc. 7 Year Term Loan, 10.435%, (US0003M + 5.000%), 04/16/26 | 126,314 | 0.1 |
| | | | 955,254 | 0.8 |
| | Software: 0.1% |
99,750 | | AppLovin Corporation 2023 Term Loan B, 8.448%, (TSFR3M + 3.100%), 08/14/30 | | 99,906 | 0.1 |
| | | | |
| | Technology: 8.0% |
259,536 | | 24-7 Intouch Inc 2018 Term Loan, 10.198%, (US0001M + 4.750%), 08/25/25 | 256,779 | 0.2 |
197,389 | | ABC Financial Services, Inc. 1st Lien Term Loan, 9.895%, (US0001M + 4.250%), 01/02/25 | 197,389 | 0.2 |
225,000 | | Altar Bidco, Inc. 2021 2nd Lien Term Loan, 10.493%, (TSFR1M + 5.600%), 02/01/30 | 218,250 | 0.2 |
517,125 | | AppLovin Corporation 2021 Term Loan B, 8.448%, (TSFR1M + 3.100%), 10/25/28 | 517,577 | 0.4 |
248,903 | | Asurion LLC 2020 Term Loan B8, 8.713%, (US0001M + 3.250%), 12/23/26 | 245,889 | 0.2 |
255,000 | | Asurion LLC 2021 2nd Lien Term Loan B3, 10.713%, (US0001M + 5.250%), 01/31/28 | 229,819 | 0.2 |
1,754 | | Avaya, Inc. 2023 Exit Term Loan, 13.848%, 08/01/28 | 1,541 | 0.0 |
389,243 | | Banff Merger Sub Inc 2021 USD Term Loan, 9.213%, (US0001M + 3.750%), 10/02/25 | 389,764 | 0.3 |
174,081 | | Blackhawk Network Holdings, Inc 2018 1st Lien Term Loan, 8.138%, (US0001M + 3.000%), 06/15/25 | 173,973 | 0.1 |
409,790 | | Bright Bidco B.V. 2022 Exit Term Loan, 6.378%, (TSFR1M + 8.000%), 10/31/27 | 158,589 | 0.1 |
149,619 | | ConnectWise, LLC 2021 Term Loan B, 8.963%, (US0003M + 3.500%), 09/29/28 | 146,409 | 0.1 |
159,342 | | Constant Contact Inc Term Loan, 9.687%, (US0003M + 4.000%), 02/10/28 | 154,164 | 0.1 |
275,000 | | Cvent, Inc. 2023 Term Loan B, 9.140%, (TSFR3M + 3.750%), 06/17/30 | 274,175 | 0.2 |
81,069 | | Cyxtera DC Holdings, Inc. 2023 DIP Term Loan, 13.936%, (SOFRRATE + 8.500%), 12/07/23 | 81,627 | 0.1 |
99,489 | | ECI Macola Max Holding, LLC 2020 Term Loan, 9.402%, (US0003M + 3.750%), 11/09/27 | 99,377 | 0.1 |
295,619 | | Entegris, Inc. 2023 Term Loan B, 7.890%, (TSFR1M + 2.750%), 07/06/29 | 296,520 | 0.3 |
124,248 | | Epicor Software Corporation 2020 Term Loan, 8.713%, (US0001M + 3.250%), 07/30/27 | 124,636 | 0.1 |
450,000 | | Epicor Software Corporation 2023 Incremental Term Loan, 9.098%, (TSFR1M + 3.750%), 07/30/27 | 453,515 | 0.4 |
277,679 | | Helios Software Holdings, Inc. 2021 USD Term Loan B, 9.290%, (TSFR1M + 3.750%), 03/11/28 | 275,162 | 0.2 |
149,625 | | Idemia Group 2023 USD Extended Term Loan B4, 10.140%, (TSFR3M + 4.750%), 09/30/28 | 150,373 | 0.1 |
202,322 | | Imperva, Inc. 1st Lien Term Loan, 9.631%, (US0003M + 4.000%), 01/12/26 | 202,385 | 0.2 |
455,000 | | Imperva, Inc. 2nd Lien Term Loan, 13.383%, (US0003M + 7.750%), 01/11/27 | 456,991 | 0.4 |
238,775 | | Indy US Bidco, LLC 2023 USD Fifth Amendment Incremental Term Loan, 11.598%, (TSFR1M + 6.250%), 03/06/28 | 231,910 | 0.2 |
124,688 | | Intrado Corporation 2023 Term Loan B, 9.390%, (TSFR1M + 4.000%), 01/31/30 | 124,952 | 0.1 |
378,894 | | Ivanti Software, Inc. 2021 Term Loan B, 9.907%, (US0001M + 4.250%), 12/01/27 | 351,986 | 0.3 |
178,548 | | Magenta Buyer LLC 2021 USD 1st Lien Term Loan, 10.645%, (US0003M + 4.750%), 07/27/28 | 115,163 | 0.1 |
209,188 | | McAfee, LLC 2022 USD Term Loan B, 9.170%, (TSFR1M + 3.750%), 03/01/29 | 207,270 | 0.2 |
210,000 | | Mosel Bidco SE USD Term Loan B, 10.164%, (TSFR3M + 4.750%), 08/01/30 | 210,263 | 0.2 |
445,000 | | Project Boost Purchaser LLC, 7.268%, (US0001M + 3.500%), 05/30/26 | 444,397 | 0.4 |
265,995 | | SkillSoft Corporation 2021 Term Loan, 10.694%, (TSFR1M + 5.250%), 07/14/28 | 248,040 | 0.2 |
206,480 | | Sovos Compliance, LLC 2021 Term Loan, 9.963%, (US0001M + 4.500%), 08/11/28 | 203,011 | 0.2 |
513,200 | | Tibco Software Inc. 2022 USD Term Loan, 9.990%, (TSFR1M + 4.500%), 03/30/29 | | 492,672 | 0.4 |
931,269 | | Travelport Finance (Luxembourg) S.a.r.l. 2023 Consented Term Loan, 13.869%, (TSFR3M + 8.500%), 05/29/26 | 423,727 | 0.4 |
37,797 | | Turing Midco LLC 2021 Term Loan B, 7.963%, (US0001M + 2.500%), 03/24/28 | 37,864 | 0.0 |
407,850 | | Ultimate Software Group Inc (The) 2023 Incremental Term Loan, 9.988%, (SOFRRATE + 4.500%), 05/04/26 | 409,940 | 0.3 |
303,989 | | Veritas US Inc. 2021 USD Term Loan B, 10.463%, (US0003M + 5.000%), 09/01/25 | 240,151 | 0.2 |
208,950 | | World Wide Technology Holding Co. LLC Term Loan, 8.671%, (TSFR1M + 3.250%), 03/01/30 | 209,603 | 0.2 |
440,334 | | Xperi Corporation 2020 Term Loan B, 8.841%, (US0001M + 3.500%), 06/08/28 | 439,967 | 0.4 |
| | 9,495,820 | 8.0 |
| | | |
| | Telecommunications: 2.0% |
303,547 | | Altice France S.A. 2023 USD Term Loan B14, 10.894%, (TSFR3M + 5.500%), 08/15/28 | 260,367 | 0.2 |
599,244 | | CCI Buyer, Inc. Term Loan, 9.390%, (TSFR1M + 4.000%), 12/17/27 | 596,186 | 0.5 |
500,000 | | Connect Finco Sarl 2021 Term Loan B, 8.848%, (US0001M + 3.500%), 12/11/26 | 499,453 | 0.4 |
124,682 | | Eagle Broadband Investments LLC Term Loan, 8.652%, (US0003M + 3.000%), 11/12/27 | 120,848 | 0.1 |
282,150 | | Venga Finance Sarl 2021 USD Term Loan B, 10.400%, (TSFR1M + 4.750%), 06/28/29 | 279,152 | 0.3 |
99,747 | | ViaSat, Inc. Term Loan, 9.848%, (TSFR1M + 4.500%), 03/02/29 | 96,406 | 0.1 |
500,000 | | Virgin Media Bristol LLC 2020 USD Term Loan Q, 8.687%, (US0001M + 3.250%), 01/31/29 | 496,180 | 0.4 |
| | 2,348,592 | 2.0 |
| | | |
| | Utilities: 0.5% |
539,659 | | Waterbridge Midstream Operating LLC Term Loan B, 11.390%, (US0003M + 5.750%), 06/22/26 | 541,298 | 0.5 |
| | | | |
| | Zero Default Risk: 0.6% |
223,499 | | Fugue Finance B.V. 2023 USD Term Loan B, 9.388%, (TSFR3M + 4.000%), 01/31/28 | 224,582 | 0.2 |
26,667 | (6),(8) | Ryan, LLC Delayed Draw Term Loan, 11/14/30 | 26,567 | 0.0 |
253,333 | | Ryan, LLC Term Loan, 9.848%, (TSFR1M + 4.500%), 11/14/30 | 252,383 | 0.2 |
177,405 | | Smyrna Ready Mix Concrete, LLC 2023 Term Loan, 8.831%, (TSFR1M + 3.500%), 04/02/29 | 177,848 | 0.2 |
| | 681,380 | 0.6 |
| | | |
| Total Senior Loans | | |
| (Cost $73,754,624) | 71,247,391 | 60.2 |
| | | |
CORPORATE BONDS/NOTES: 51.6% | |
| | Basic Materials: 3.6% |
165,000 | # | Arsenal AIC Parent LLC, 8.000%, 10/01/30 | 168,557 | 0.1 |
160,000 | | ATI, Inc., 7.250%, 08/15/30 | 160,874 | 0.1 |
390,000 | # | Cleveland-Cliffs, Inc., 4.625%, 03/01/29 | 350,843 | 0.3 |
220,000 | # | Coeur Mining, Inc., 5.125%, 02/15/29 | 189,706 | 0.2 |
150,000 | # | Consolidated Energy Finance S.A., 5.625%, 10/15/28 | 125,024 | 0.1 |
250,000 | # | Constellium SE, 5.625%, 06/15/28 | 239,118 | 0.2 |
400,000 | # | First Quantum Minerals Ltd., 6.875%, 10/15/27 | 321,320 | 0.3 |
425,000 | # | HudBay Minerals, Inc., 4.500%, 04/01/26 | 404,117 | 0.3 |
195,000 | # | Illuminate Buyer LLC / Illuminate Holdings IV, Inc., 9.000%, 07/01/28 | 183,615 | 0.2 |
200,000 | # | INEOS Quattro Finance 2 Plc, 3.375%, 01/15/26 | 187,955 | 0.2 |
150,000 | #,(1) | Iris Holdings, Inc., 8.750% (PIK Rate 9.500%, Cash Rate 8.750%), 02/15/26 | 134,210 | 0.1 |
305,000 | # | Mativ, Inc., 6.875%, 10/01/26 | 281,670 | 0.2 |
40,000 | # | NOVA Chemicals Corp., 8.500%, (0 + –%), 11/15/28 | 41,370 | 0.0 |
475,000 | # | Novelis Corp., 4.750%, 01/30/30 | 431,674 | 0.4 |
275,000 | # | Nufarm Australia Ltd. / Nufarm Americas, Inc., 5.000%, 01/27/30 | 243,844 | 0.2 |
445,000 | | Olin Corp., 5.625%, 08/01/29 | 425,079 | 0.4 |
200,000 | # | SPCM SA, 3.125%, 03/15/27 | 178,299 | 0.1 |
200,000 | # | Taseko Mines Ltd., 7.000%, 02/15/26 | 187,185 | 0.2 |
57,000 | # | Trinseo Materials Operating SCA / Trinseo Materials Finance, Inc., 5.375%, 09/01/25 | | 47,654 | 0.0 |
| | | 4,302,114 | 3.6 |
| | | | |
| | Communications: 6.9% |
200,000 | # | Acuris Finance Us, Inc. / Acuris Finance SARL, 5.000%, 05/01/28 | 159,793 | 0.1 |
400,000 | # | Altice France Holding SA, 6.000%, 02/15/28 | 161,998 | 0.1 |
400,000 | # | Altice France SA/France, 5.500%, 10/15/29 | 289,093 | 0.2 |
70,000 | | AMC Networks, Inc., 4.250%, 02/15/29 | 49,070 | 0.0 |
225,000 | # | Beasley Mezzanine Holdings LLC, 8.625%, 02/01/26 | 144,281 | 0.1 |
1,275,000 | # | CCO Holdings LLC / CCO Holdings Capital Corp., 4.750%, 03/01/30 | 1,116,641 | 0.9 |
255,000 | # | CommScope, Inc., 4.750%, 09/01/29 | 160,231 | 0.1 |
200,000 | # | Connect Finco SARL / Connect US Finco LLC, 6.750%, 10/01/26 | 192,193 | 0.2 |
140,000 | | CSC Holdings LLC, 5.250%, 06/01/24 | 133,511 | 0.1 |
200,000 | # | CSC HOLDINGS LLC, 11.250%, 05/15/28 | 199,842 | 0.2 |
525,000 | # | Directv Financing LLC / Directv Financing Co-Obligor, Inc., 5.875%, 08/15/27 | 472,944 | 0.4 |
275,000 | # | DISH DBS Corp., 5.250%, 12/01/26 | 221,629 | 0.2 |
400,000 | | DISH DBS Corp., 7.375%, 07/01/28 | 198,123 | 0.2 |
85,000 | # | GCI LLC, 4.750%, 10/15/28 | 76,372 | 0.1 |
150,000 | # | iHeartCommunications, Inc., 5.250%, 08/15/27 | 115,127 | 0.1 |
200,000 | # | ION Trading Technologies Sarl, 5.750%, 05/15/28 | 170,240 | 0.1 |
400,000 | # | LCPR Senior Secured Financing DAC, 6.750%, 10/15/27 | 376,600 | 0.3 |
115,000 | # | Level 3 Financing, Inc., 10.500%, 05/15/30 | 106,766 | 0.1 |
325,000 | # | Match Group Holdings II LLC, 5.625%, 02/15/29 | 306,516 | 0.3 |
165,000 | # | McGraw-Hill Education, Inc., 8.000%, 08/01/29 | 148,809 | 0.1 |
290,000 | # | Millennium Escrow Corp., 6.625%, 08/01/26 | 224,148 | 0.2 |
250,000 | | Paramount Global, 6.250%, 02/28/57 | 196,406 | 0.2 |
200,000 | # | Sinclair Television Group, Inc., 4.125%, 12/01/30 | 140,657 | 0.1 |
475,000 | # | Sirius XM Radio, Inc., 5.000%, 08/01/27 | 451,672 | 0.4 |
145,000 | # | Spanish Broadcasting System, Inc., 9.750%, 03/01/26 | 84,006 | 0.1 |
220,000 | # | Stagwell Global LLC, 5.625%, 08/15/29 | 192,932 | 0.2 |
325,000 | | Telecom Italia Capital SA, 6.375%, 11/15/33 | 304,947 | 0.3 |
165,000 | # | Uber Technologies, Inc., 8.000%, 11/01/26 | 167,840 | 0.1 |
625,000 | # | Univision Communications, Inc., 6.625%, 06/01/27 | 616,625 | 0.5 |
85,000 | # | ViaSat, Inc., 5.625%, 04/15/27 | 78,801 | 0.1 |
300,000 | # | Viavi Solutions, Inc., 3.750%, 10/01/29 | 250,754 | 0.2 |
200,000 | # | Virgin Media Vendor Financing Notes IV DAC, 5.000%, 07/15/28 | 179,695 | 0.2 |
300,000 | # | Vmed O2 UK Financing I PLC, 4.750%, 07/15/31 | 256,511 | 0.2 |
275,000 | # | Zayo Group Holdings, Inc., 4.000%, 03/01/27 | 210,118 | 0.2 |
| | | 8,154,891 | 6.9 |
| | | | |
| | Consumer, Cyclical: 12.3% |
225,000 | # | 1011778 BC ULC / New Red Finance, Inc., 4.375%, 01/15/28 | 209,026 | 0.2 |
400,000 | # | Adient Global Holdings Ltd., 4.875%, 08/15/26 | 385,349 | 0.3 |
275,000 | # | Affinity Interactive, 6.875%, 12/15/27 | 239,624 | 0.2 |
375,000 | # | Allison Transmission, Inc., 5.875%, 06/01/29 | 363,189 | 0.3 |
579,167 | # | American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.500%, 04/20/26 | 570,568 | 0.5 |
245,000 | # | Arko Corp., 5.125%, 11/15/29 | 204,185 | 0.2 |
400,000 | | Asbury Automotive Group, Inc., 4.500%, 03/01/28 | 368,253 | 0.3 |
180,000 | # | Ashton Woods USA LLC / Ashton Woods Finance Co., 4.625%, 08/01/29 | 151,862 | 0.1 |
200,000 | # | Banijay Entertainment SASU, 8.125%, 05/01/29 | 201,813 | 0.2 |
475,000 | # | Bath & Body Works, Inc., 6.625%, 10/01/30 | 470,600 | 0.4 |
180,000 | # | Brinker International, Inc., 5.000%, 10/01/24 | 177,053 | 0.2 |
300,000 | # | Caesars Entertainment, Inc., 4.625%, 10/15/29 | 263,808 | 0.2 |
250,000 | # | Caesars Entertainment, Inc., 6.250%, 07/01/25 | 248,771 | 0.2 |
800,000 | # | Carnival Corp., 4.000%, 08/01/28 | 725,360 | 0.6 |
160,000 | # | Carrols Restaurant Group, Inc., 5.875%, 07/01/29 | 140,063 | 0.1 |
150,000 | # | CCM Merger, Inc., 6.375%, 05/01/26 | 144,128 | 0.1 |
325,000 | | Delta Air Lines 2020-1 Class A Pass Through Trust, 7.375%, 01/15/26 | 333,044 | 0.3 |
135,000 | # | Dream Finders Homes, Inc., 8.250%, 08/15/28 | 139,164 | 0.1 |
1,250,000 | | Ford Motor Credit Co. LLC, 4.125%, 08/17/27 | 1,155,955 | 1.0 |
300,000 | # | Gap, Inc./The, 3.625%, 10/01/29 | 247,197 | 0.2 |
125,000 | # | Golden Entertainment, Inc., 7.625%, 04/15/26 | 125,356 | 0.1 |
300,000 | # | Installed Building Products, Inc., 5.750%, 02/01/28 | 283,582 | 0.2 |
365,000 | # | Interface, Inc., 5.500%, 12/01/28 | 328,314 | 0.3 |
600,000 | # | International Game Technology PLC, 6.250%, 01/15/27 | 599,398 | 0.5 |
225,000 | # | LCM Investments Holdings II LLC, 4.875%, 05/01/29 | 196,761 | 0.2 |
155,000 | # | Lions Gate Capital Holdings LLC, 5.500%, 04/15/29 | 96,261 | 0.1 |
325,000 | | M/I Homes, Inc., 4.950%, 02/01/28 | 309,247 | 0.3 |
325,000 | # | Macy's Retail Holdings LLC, 6.125%, 03/15/32 | 291,688 | 0.2 |
200,000 | # | Melco Resorts Finance Ltd., 5.375%, 12/04/29 | 167,000 | 0.1 |
180,000 | | MGM Resorts International, 4.625%, 09/01/26 | 172,973 | 0.1 |
300,000 | | Murphy Oil USA, Inc., 4.750%, 09/15/29 | 277,898 | 0.2 |
450,000 | # | NCL Corp. Ltd, 5.875%, 03/15/26 | 426,713 | 0.4 |
160,000 | # | Raising Cane's Restaurants LLC, 9.375%, 05/01/29 | 168,207 | 0.1 |
65,000 | # | Ritchie Bros Holdings, Inc., 7.750%, 03/15/31 | 67,525 | 0.1 |
765,000 | # | Royal Caribbean Cruises Ltd., 5.375%, 07/15/27 | 736,626 | 0.6 |
180,000 | | Sally Holdings LLC / Sally Capital, Inc., 5.625%, 12/01/25 | 177,323 | 0.2 |
250,000 | # | Scientific Games International, Inc., 7.000%, 05/15/28 | 250,470 | 0.2 |
230,000 | # | Sonic Automotive, Inc., 4.625%, 11/15/29 | 202,884 | 0.2 |
250,000 | # | SRS Distribution, Inc., 6.125%, 07/01/29 | 220,983 | 0.2 |
275,000 | # | Station Casinos LLC, 4.500%, 02/15/28 | 248,937 | 0.2 |
250,000 | # | STL Holding Co. LLC, 7.500%, 02/15/26 | 239,523 | 0.2 |
365,000 | # | Taylor Morrison Communities, Inc., 5.750%, 01/15/28 | 355,532 | 0.3 |
400,000 | # | Tempur Sealy International, Inc., 4.000%, 04/15/29 | 346,564 | 0.3 |
250,000 | | United Airlines Holdings, Inc., 4.875%, 01/15/25 | 245,795 | 0.2 |
225,000 | # | Viking Cruises Ltd., 5.875%, 09/15/27 | 212,038 | 0.2 |
250,000 | # | William Carter Co/The, 5.625%, 03/15/27 | 242,655 | 0.2 |
165,000 | # | Williams Scotsman International, Inc., 4.625%, 08/15/28 | 151,821 | 0.1 |
475,000 | # | Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp., 5.250%, 05/15/27 | 452,820 | 0.4 |
180,000 | # | ZF North America Capital, Inc., 6.875%, 04/14/28 | 182,677 | 0.2 |
| | | 14,516,583 | 12.3 |
| | | | |
| | Consumer, Non-cyclical: 8.4% |
275,000 | # | Acadia Healthcare Co., Inc., 5.500%, 07/01/28 | 263,700 | 0.2 |
465,000 | # | ADT Security Corp./The, 4.125%, 08/01/29 | 413,648 | 0.3 |
180,000 | # | AHP Health Partners, Inc., 5.750%, 07/15/29 | 149,976 | 0.1 |
675,000 | # | Albertsons Cos, Inc. / Safeway, Inc. / New Albertsons L.P. / Albertsons LLC, 5.875%, 02/15/28 | 666,469 | 0.6 |
250,000 | # | Alta Equipment Group, Inc., 5.625%, 04/15/26 | 233,790 | 0.2 |
275,000 | # | APi Escrow Corp., 4.750%, 10/15/29 | 246,315 | 0.2 |
185,000 | # | Bausch & Lomb Escrow Corp., 8.375%, 10/01/28 | 189,394 | 0.2 |
165,000 | # | BellRing Brands, Inc., 7.000%, 03/15/30 | 167,944 | 0.1 |
400,000 | # | Cheplapharm Arzneimittel GmbH, 5.500%, 01/15/28 | 371,219 | 0.3 |
350,000 | # | CHS/Community Health Systems, Inc., 5.625%, 03/15/27 | 312,670 | 0.3 |
150,000 | | Cimpress PLC, 7.000%, 06/15/26 | 145,234 | 0.1 |
315,000 | # | CPI CG, Inc., 8.625%, 03/15/26 | 299,614 | 0.3 |
410,000 | # | DaVita, Inc., 4.625%, 06/01/30 | 346,854 | 0.3 |
275,000 | | Encompass Health Corp., 4.750%, 02/01/30 | 250,110 | 0.2 |
275,000 | # | Graham Holdings Co., 5.750%, 06/01/26 | 268,037 | 0.2 |
200,000 | # | IQVIA, Inc., 6.500%, 05/15/30 | 201,940 | 0.2 |
200,000 | # | Jazz Securities DAC, 4.375%, 01/15/29 | 180,110 | 0.2 |
225,000 | # | KeHE Distributors LLC / KeHE Finance Corp., 8.625%, 10/15/26 | 226,417 | 0.2 |
190,000 | # | Legacy LifePoint Health LLC, 4.375%, 02/15/27 | 166,523 | 0.1 |
200,000 | # | Legends Hospitality Holding Co. LLC / Legends Hospitality Co-Issuer, Inc., 5.000%, 02/01/26 | 197,164 | 0.2 |
275,000 | # | Medline Borrower L.P., 3.875%, 04/01/29 | 244,286 | 0.2 |
195,000 | # | Medline Borrower L.P., 5.250%, 10/01/29 | 176,607 | 0.1 |
165,000 | # | MPH Acquisition Holdings LLC, 5.750%, 11/01/28 | 127,955 | 0.1 |
195,000 | # | NESCO Holdings II, Inc., 5.500%, 04/15/29 | 175,013 | 0.1 |
400,000 | # | Organon & Co. / Organon Foreign Debt Co-Issuer BV, 5.125%, 04/30/31 | | 315,091 | 0.3 |
200,000 | | Perrigo Finance Unlimited Co., 4.650%, 06/15/30 | 178,612 | 0.1 |
200,000 | # | Picasso Finance Sub, Inc., 6.125%, 06/15/25 | 198,751 | 0.2 |
475,000 | # | Post Holdings, Inc., 5.500%, 12/15/29 | 446,852 | 0.4 |
150,000 | # | Prestige Brands, Inc., 3.750%, 04/01/31 | 125,202 | 0.1 |
365,000 | # | Primo Water Holdings, Inc., 4.375%, 04/30/29 | 324,109 | 0.3 |
180,000 | # | Select Medical Corp., 6.250%, 08/15/26 | 178,831 | 0.1 |
195,000 | # | Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed, 4.625%, 03/01/29 | 162,052 | 0.1 |
220,000 | # | Teleflex, Inc., 4.250%, 06/01/28 | 202,791 | 0.2 |
500,000 | | Tenet Healthcare Corp., 4.625%, 06/15/28 | 466,141 | 0.4 |
365,000 | | Tenet Healthcare Corp., 6.125%, 10/01/28 | 354,200 | 0.3 |
200,000 | | Teva Pharmaceutical Finance Netherlands III BV, 4.750%, 05/09/27 | 188,155 | 0.2 |
290,000 | # | Triton Water Holdings, Inc., 6.250%, 04/01/29 | 248,589 | 0.2 |
325,000 | | United Rentals North America, Inc., 5.250%, 01/15/30 | 310,786 | 0.3 |
200,000 | # | Varex Imaging Corp., 7.875%, 10/15/27 | 199,478 | 0.2 |
| | | 9,920,629 | 8.4 |
| | | | |
| | Energy: 7.2% |
425,000 | # | Antero Midstream Partners L.P. / Antero Midstream Finance Corp., 5.750%, 03/01/27 | 416,140 | 0.3 |
130,000 | # | Antero Resources Corp., 7.625%, 02/01/29 | 133,237 | 0.1 |
425,000 | # | Archrock Partners L.P. / Archrock Partners Finance Corp., 6.250%, 04/01/28 | 415,374 | 0.3 |
280,000 | # | Ascent Resources Utica Holdings LLC / ARU Finance Corp., 5.875%, 06/30/29 | 257,534 | 0.2 |
200,000 | # | Atlantica Sustainable Infrastructure PLC, 4.125%, 06/15/28 | 179,587 | 0.1 |
240,000 | # | Chord Energy Corp., 6.375%, 06/01/26 | 238,634 | 0.2 |
250,000 | # | CNX Midstream Partners LP, 4.750%, 04/15/30 | 218,334 | 0.2 |
325,000 | # | Colgate Energy Partners III LLC, 5.875%, 07/01/29 | 310,884 | 0.3 |
325,000 | # | Crescent Energy Finance LLC, 7.250%, 05/01/26 | 322,787 | 0.3 |
425,000 | # | Crestwood Midstream Partners L.P. / Crestwood Midstream Finance Corp., 5.625%, 05/01/27 | 417,849 | 0.4 |
325,000 | # | Delek Logistics Partners L.P. / Delek Logistics Finance Corp., 7.125%, 06/01/28 | 306,459 | 0.3 |
445,000 | # | DT Midstream, Inc., 4.125%, 06/15/29 | 399,846 | 0.3 |
300,000 | # | Earthstone Energy Holdings LLC, 8.000%, 04/15/27 | 306,691 | 0.3 |
300,000 | # | Encino Acquisition Partners Holdings LLC, 8.500%, 05/01/28 | 292,594 | 0.2 |
165,000 | # | Enerflex Ltd., 9.000%, 10/15/27 | 155,496 | 0.1 |
500,000 | | EnLink Midstream LLC, 5.375%, 06/01/29 | 482,933 | 0.4 |
425,000 | # | Hess Midstream Operations L.P., 5.125%, 06/15/28 | 407,065 | 0.3 |
450,000 | # | Hilcorp Energy I L.P. / Hilcorp Finance Co., 6.000%, 04/15/30 | 420,103 | 0.4 |
350,000 | # | Kinetik Holdings L.P., 5.875%, 06/15/30 | 333,673 | 0.3 |
250,000 | # | Matador Resources Co., 6.875%, 04/15/28 | 250,748 | 0.2 |
350,000 | # | Moss Creek Resources Holdings, Inc., 7.500%, 01/15/26 | 342,446 | 0.3 |
400,000 | | Murphy Oil Corp., 6.375%, 07/15/28 | 397,631 | 0.3 |
180,000 | # | Northern Oil and Gas, Inc., 8.750%, 06/15/31 | 186,975 | 0.2 |
220,000 | | Southwestern Energy Co., 5.375%, 02/01/29 | 209,509 | 0.2 |
390,000 | | Sunoco L.P. / Sunoco Finance Corp., 4.500%, 05/15/29 | 355,751 | 0.3 |
123,750 | # | Transocean Poseidon Ltd., 6.875%, 02/01/27 | 122,280 | 0.1 |
110,000 | # | Transocean, Inc., 7.500%, 01/15/26 | 107,336 | 0.1 |
540,000 | # | Venture Global LNG, Inc., 8.125%, 06/01/28 | 535,876 | 0.5 |
| | | 8,523,772 | 7.2 |
| | | | |
| | Financial: 4.4% |
275,000 | | Ally Financial, Inc., 5.750%, 11/20/25 | 269,989 | 0.2 |
140,000 | # | Aretec Escrow Issuer, Inc., 7.500%, 04/01/29 | 118,411 | 0.1 |
195,000 | # | BroadStreet Partners, Inc., 5.875%, 04/15/29 | 177,384 | 0.1 |
200,000 | # | Burford Capital Global Finance LLC, 6.250%, 04/15/28 | 190,160 | 0.2 |
265,000 | # | Freedom Mortgage Corp., 7.625%, 05/01/26 | 253,462 | 0.2 |
300,000 | | Icahn Enterprises L.P. / Icahn Enterprises Finance Corp., 5.250%, 05/15/27 | 271,875 | 0.2 |
420,000 | # | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 4.250%, 02/01/27 | 387,858 | 0.3 |
400,000 | # | Midcap Financial Issuer Trust, 6.500%, 05/01/28 | | 348,468 | 0.3 |
400,000 | | MPT Operating Partnership L.P. / MPT Finance Corp., 5.000%, 10/15/27 | 319,221 | 0.3 |
365,000 | # | Nationstar Mortgage Holdings, Inc., 5.500%, 08/15/28 | 338,144 | 0.3 |
575,000 | | Navient Corp., 5.000%, 03/15/27 | 536,617 | 0.5 |
825,000 | | OneMain Finance Corp., 3.500%, 01/15/27 | 737,858 | 0.6 |
325,000 | # | PRA Group, Inc., 5.000%, 10/01/29 | 245,724 | 0.2 |
140,000 | # | Realogy Group LLC / Realogy Co-Issuer Corp., 5.750%, 01/15/29 | 99,972 | 0.1 |
365,000 | # | United Wholesale Mortgage LLC, 5.750%, 06/15/27 | 343,473 | 0.3 |
225,000 | # | Uniti Group L.P. / Uniti Group Finance, Inc. / CSL Capital LLC, 10.500%, 02/15/28 | 221,530 | 0.2 |
200,000 | # | VistaJet Malta Finance PLC / XO Management Holding, Inc., 6.375%, 02/01/30 | 140,062 | 0.1 |
275,000 | # | XHR L.P., 4.875%, 06/01/29 | 246,598 | 0.2 |
| | | 5,246,806 | 4.4 |
| | | | |
| | Industrial: 6.7% |
200,000 | #,(1) | ARD Finance SA, 6.500% (PIK Rate 7.250%, Cash Rate 6.500%), 06/30/27 | 103,178 | 0.1 |
235,000 | | Ball Corp., 6.875%, 03/15/28 | 240,243 | 0.2 |
225,000 | # | Bombardier, Inc., 7.875%, 04/15/27 | 225,356 | 0.2 |
200,000 | # | Brundage-Bone Concrete Pumping Holdings, Inc., 6.000%, 02/01/26 | 193,278 | 0.2 |
275,000 | # | Builders FirstSource, Inc., 5.000%, 03/01/30 | 256,320 | 0.2 |
350,000 | # | Cascades, Inc./Cascades USA, Inc., 5.375%, 01/15/28 | 330,225 | 0.3 |
300,000 | # | Chart Industries, Inc., 7.500%, 01/01/30 | 306,347 | 0.3 |
225,000 | # | Clean Harbors, Inc., 5.125%, 07/15/29 | 211,748 | 0.2 |
195,000 | # | Energizer Holdings, Inc., 4.750%, 06/15/28 | 174,466 | 0.2 |
375,000 | # | Fortress Transportation and Infrastructure Investors LLC, 5.500%, 05/01/28 | 352,429 | 0.3 |
385,000 | # | GFL Environmental, Inc., 4.000%, 08/01/28 | 343,921 | 0.3 |
275,000 | # | Global Infrastructure Solutions, Inc., 5.625%, 06/01/29 | 230,045 | 0.2 |
175,000 | # | Graham Packaging Co., Inc., 7.125%, 08/15/28 | 154,151 | 0.1 |
390,000 | # | Imola Merger Corp., 4.750%, 05/15/29 | 354,652 | 0.3 |
50,000 | #,(1) | Intelligent Packaging Holdco Issuer LP, 9.000% (PIK Rate 9.750%, Cash Rate 9.000%), 01/15/26 | 42,009 | 0.0 |
250,000 | # | Intelligent Packaging Ltd. Finco, Inc. / Intelligent Packaging Ltd. Co-Issuer LLC, 6.000%, 09/15/28 | 224,743 | 0.2 |
190,000 | # | Maxim Crane Works Holdings Capital LLC, 11.500%, 09/01/28 | 189,953 | 0.2 |
245,000 | # | New Enterprise Stone & Lime Co., Inc., 9.750%, 07/15/28 | 244,699 | 0.2 |
95,000 | # | Owens-Brockway Glass Container, Inc., 7.250%, 05/15/31 | 94,407 | 0.1 |
300,000 | # | PGT Innovations, Inc., 4.375%, 10/01/29 | 284,114 | 0.2 |
250,000 | # | Roller Bearing Co. of America, Inc., 4.375%, 10/15/29 | 224,825 | 0.2 |
400,000 | # | Rolls-Royce PLC, 5.750%, 10/15/27 | 395,614 | 0.3 |
375,000 | # | Sealed Air Corp., 4.000%, 12/01/27 | 344,938 | 0.3 |
420,000 | # | Sensata Technologies BV, 4.000%, 04/15/29 | 377,244 | 0.3 |
250,000 | # | Smyrna Ready Mix Concrete LLC, 8.750%, 11/15/31 | 254,555 | 0.2 |
650,000 | # | Standard Industries, Inc./NJ, 4.750%, 01/15/28 | 611,555 | 0.5 |
390,000 | # | Summit Materials LLC / Summit Materials Finance Corp., 5.250%, 01/15/29 | 365,038 | 0.3 |
490,000 | # | TransDigm, Inc., 6.875%, 12/15/30 | 490,968 | 0.4 |
275,000 | # | Weekley Homes LLC / Weekley Finance Corp., 4.875%, 09/15/28 | 252,226 | 0.2 |
| | | 7,873,247 | 6.7 |
| | | | |
| | Technology: 1.3% |
220,000 | # | Condor Merger Sub, Inc., 7.375%, 02/15/30 | 190,224 | 0.2 |
250,000 | # | Consensus Cloud Solutions, Inc., 6.500%, 10/15/28 | 226,025 | 0.2 |
275,000 | # | Entegris Escrow Corp., 6.950%, 06/15/30 | 265,833 | 0.2 |
205,000 | # | NCR Atleos Escrow Corp., 9.500%, 04/01/29 | 211,861 | 0.2 |
400,000 | # | Open Text Holdings, Inc., 4.125%, 02/15/30 | 354,304 | 0.3 |
330,000 | # | Virtusa Corp., 7.125%, 12/15/28 | 261,393 | 0.2 |
| | | 1,509,640 | 1.3 |
| | | | |
| | Utilities: 0.8% |
435,000 | # | CALPINE CORP SR UNSECURED 144A, 5.125%, 03/15/28 | 409,726 | 0.3 |
185,000 | | TransAlta Corp., 7.750%, 11/15/29 | | 190,638 | 0.2 |
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 November 30, 2023:
* 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 November 30, 2023 may be due to securities no longer held or categorized as Level 3 at period end.
At November 30, 2023, the following forward foreign currency contracts were outstanding for Voya Credit Income Fund: