Principal Amount USD ($) | | | | | | Value |
| Oil & Gas — 7.6% | |
371,000 | Aethon United BR LP/Aethon United Finance Corp., 8.25%, 2/15/26 (144A) | $ 374,488 |
238,000 | Baytex Energy Corp., 7.375%, 3/15/32 (144A) | 240,754 |
194,903 | Borr IHC, Ltd./Borr Finance LLC, 10.375%, 11/15/30 (144A) | 203,674 |
110,000 | CITGO Petroleum Corp., 8.375%, 1/15/29 (144A) | 113,868 |
90,000 | Hilcorp Energy I LP/Hilcorp Finance Co., 6.00%, 4/15/30 (144A) | 86,850 |
90,000 | Hilcorp Energy I LP/Hilcorp Finance Co., 6.25%, 4/15/32 (144A) | 86,273 |
400,000 | Kosmos Energy, Ltd., 7.75%, 5/1/27 (144A) | 389,574 |
200,000 | Seadrill Finance, Ltd., 8.375%, 8/1/30 (144A) | 209,929 |
270,000 | Shelf Drilling Holdings, Ltd., 9.625%, 4/15/29 (144A) | 261,302 |
103,500 | Transocean, Inc., 8.75%, 2/15/30 (144A) | 107,974 |
40,000 | Transocean Titan Financing, Ltd., 8.375%, 2/1/28 (144A) | 41,483 |
110,000 | Transocean, Inc., 6.80%, 3/15/38 | 91,520 |
70,000 | Transocean, Inc., 8.25%, 5/15/29 (144A) | 69,991 |
70,000 | Transocean, Inc., 8.50%, 5/15/31 (144A) | 69,929 |
260,000 | Tullow Oil Plc, 10.25%, 5/15/26 (144A) | 250,829 |
| Total Oil & Gas | $2,598,438 |
|
|
| Oil & Gas Services — 1.0% | |
215,000 | Enerflex, Ltd., 9.00%, 10/15/27 (144A) | $ 219,744 |
135,000 | USA Compression Partners LP/USA Compression Finance Corp., 7.125%, 3/15/29 (144A) | 135,153 |
| Total Oil & Gas Services | $354,897 |
|
|
| Packaging & Containers — 4.4% | |
235,000 | Cascades Inc/Cascades USA, Inc., 5.375%, 1/15/28 (144A) | $ 223,852 |
344,000 | Clearwater Paper Corp., 4.75%, 8/15/28 (144A) | 320,845 |
125,000 | Crown Cork & Seal Co., Inc., 7.375%, 12/15/26 | 129,374 |
189,000 | OI European Group BV, 4.75%, 2/15/30 (144A) | 173,207 |
225,000 | Owens-Brockway Glass Container, Inc., 7.25%, 5/15/31 (144A) | 224,238 |
195,000 | Sealed Air Corp., 5.00%, 4/15/29 (144A) | 184,823 |
95,000 | Sealed Air Corp., 7.25%, 2/15/31 (144A) | 97,560 |
164,000 | TriMas Corp., 4.125%, 4/15/29 (144A) | 148,435 |
| Total Packaging & Containers | $1,502,334 |
|
|
| Pharmaceuticals — 4.0% | |
395,000 | AdaptHealth LLC, 5.125%, 3/1/30 (144A) | $ 345,016 |