Quarterly Holdings Report
for
Fidelity® Series Floating Rate High Income Fund
June 30, 2023
SFR-NPRT3-0823
1.924296.111
| Bank Loan Obligations - 86.0% | |||
Principal Amount (a) | Value ($) | ||
| Aerospace - 0.9% | |||
| ADS Tactical, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 5.750% 10.943% 3/19/26 (b)(c)(d) | 314,343 | 297,054 | |
| Gemini HDPE LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.000% 8.307% 12/31/27 (b)(c)(d) | 274,008 | 273,496 | |
| TransDigm, Inc.: | |||
| 1LN, term loan CME Term SOFR 1 Month Index + 3.250% 8.4919% 8/24/28 (b)(c)(d) | 1,273,121 | 1,271,898 | |
| Tranche H 1LN, term loan CME Term SOFR 1 Month Index + 3.250% 8.4919% 2/22/27 (b)(c)(d) | 198,743 | 198,743 | |
TOTAL AEROSPACE | 2,041,191 | ||
| Air Transportation - 1.4% | |||
| AAdvantage Loyalty IP Ltd. Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.750% 10.0004% 4/20/28 (b)(c)(d) | 455,000 | 464,100 | |
| Air Canada Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.500% 8.8391% 8/11/28 (b)(c)(d) | 381,150 | 380,605 | |
| Dynasty Acquisition Co., Inc.: | |||
| Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.7025% 4/8/26 (b)(c)(d) | 216,467 | 214,393 | |
| Tranche B2 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.7025% 4/4/26 (b)(c)(d) | 116,380 | 115,265 | |
| Echo Global Logistics, Inc. 1LN, term loan 3 month U.S. LIBOR + 4.750% 9.9037% 11/23/28 (b)(c)(d)(e) | 342,413 | 329,743 | |
| Mileage Plus Holdings LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 5.250% 10.7637% 7/2/27 (b)(c)(d) | 744,000 | 772,056 | |
| Rand Parent LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.250% 9.4919% 3/17/30 (b)(c)(d) | 94,763 | 88,840 | |
| SkyMiles IP Ltd. Tranche B 1LN, term loan CME Term SOFR 3 Month Index + 3.750% 8.7985% 10/20/27 (b)(c)(d) | 387,000 | 401,602 | |
| United Airlines, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.750% 9.2919% 4/21/28 (b)(c)(d) | 397,982 | 397,210 | |
TOTAL AIR TRANSPORTATION | 3,163,814 | ||
| Automotive & Auto Parts - 1.3% | |||
| American Trailer World Corp. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.750% 8.9525% 3/5/28 (b)(c)(d) | 389,312 | 349,287 | |
| Belron Finance U.S. LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.750% 7.8319% 4/13/29 (b)(c)(d) | 95,000 | 94,941 | |
| Clarios Global LP Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.750% 8.8525% 4/20/30 (b)(c)(d) | 500,000 | 498,280 | |
| CWGS Group LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 2.500% 7.66% 6/3/28 (b)(c)(d) | 715,204 | 681,053 | |
| Ls Group Opco Acquistion LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.443% 11/2/27 (b)(c)(d) | 431,388 | 428,152 | |
| PECF USS Intermediate Holding III Corp. Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.250% 9.5227% 12/17/28 (b)(c)(d) | 418,625 | 341,179 | |
| RVR Dealership Holdings LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.000% 8.9706% 2/8/28 (b)(c)(d) | 118,644 | 110,191 | |
| Truck Hero, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.967% 1/29/28 (b)(c)(d) | 449,650 | 422,469 | |
TOTAL AUTOMOTIVE & AUTO PARTS | 2,925,552 | ||
| Banks & Thrifts - 0.7% | |||
| Citadel Securities LP Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.500% 7.717% 2/2/28 (b)(c)(d) | 786,888 | 785,290 | |
| Deerfield Dakota Holding LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.750% 8.9919% 4/9/27 (b)(c)(d) | 266,521 | 258,144 | |
| Novae LLC 1LN, term loan CME Term SOFR 3 Month Index + 5.000% 10.3383% 12/22/28 (b)(c)(d) | 246,875 | 219,102 | |
| Superannuation & Investments U.S. LLC 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.967% 12/1/28 (b)(c)(d) | 182,225 | 181,048 | |
| Walker & Dunlop, Inc. Tranche B2 1LN, term loan CME Term SOFR 1 Month Index + 3.000% 8.2025% 12/16/28 (b)(c)(d) | 29,925 | 29,850 | |
TOTAL BANKS & THRIFTS | 1,473,434 | ||
| Broadcasting - 1.8% | |||
| AppLovin Corp. Tranche B, term loan CME Term SOFR 1 Month Index + 3.350% 8.4525% 8/15/25 (b)(c)(d) | 382,416 | 382,000 | |
| Diamond Sports Group LLC: | |||
| 1LN, term loan CME Term SOFR 1 Month Index + 8.000% 15.2534% 8/24/26 (b)(c)(d) | 244,133 | 186,305 | |
| 2LN, term loan CME Term SOFR 1 Month Index + 3.250% 8.0255% 8/24/26 (b)(c)(d) | 1,664,487 | 53,164 | |
| Dotdash Meredith, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.000% 9.2603% 12/1/28 (b)(c)(d) | 835,700 | 760,487 | |
| Gray Television, Inc. Tranche D 1LN, term loan CME Term SOFR 1 Month Index + 3.000% 8.2747% 12/1/28 (b)(c)(d) | 280,211 | 273,250 | |
| Nexstar Media, Inc. Tranche B, term loan 1 month U.S. LIBOR + 2.500% 7.717% 9/19/26 (b)(c)(d) | 443,112 | 442,319 | |
| Sinclair Television Group, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 2.500% 7.717% 9/30/26 (b)(c)(d) | 462,000 | 410,025 | |
| Springer Nature Deutschland GmbH Tranche B18 1LN, term loan 1 month U.S. LIBOR + 3.000% 8.5035% 8/14/26 (b)(c)(d) | 318,261 | 317,625 | |
| Univision Communications, Inc.: | |||
| 1LN, term loan CME Term SOFR 3 Month Index + 4.250% 9.4919% 6/24/29 (b)(c)(d) | 143,550 | 142,951 | |
| Tranche B 1LN, term loan: | |||
1 month U.S. LIBOR + 3.250% 8.443% 3/24/26 (b)(c)(d) | 238,864 | 236,561 | |
1 month U.S. LIBOR + 3.250% 8.443% 1/31/29 (b)(c)(d) | 809,750 | 792,138 | |
TOTAL BROADCASTING | 3,996,825 | ||
| Building Materials - 2.7% | |||
| Acproducts Holdings, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.250% 9.7535% 5/17/28 (b)(c)(d) | 981,985 | 823,149 | |
| APi Group DE, Inc. Tranche B 1LN, term loan: | |||
| 1 month U.S. LIBOR + 2.500% 7.717% 10/1/26 (b)(c)(d) | 97,997 | 98,052 | |
| 1 month U.S. LIBOR + 2.750% 7.967% 12/16/28 (b)(c)(d) | 114,794 | 114,883 | |
| Emerson Climate Technologies Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.000% 8.2637% 5/31/30 (b)(c)(d) | 521,789 | 521,299 | |
| Hunter Douglas, Inc. Tranche B 1LN, term loan CME Term SOFR 3 Month Index + 3.500% 8.6662% 2/25/29 (b)(c)(d) | 1,578,075 | 1,492,764 | |
| Oscar AcquisitionCo LLC 1LN, term loan CME Term SOFR 3 Month Index + 4.500% 9.8419% 4/29/29 (b)(c)(d) | 500,283 | 488,191 | |
| Smyrna Ready Mix LLC Tranche B 1lN, term loan CME Term SOFR 1 Month Index + 4.250% 9.4525% 4/1/29 (b)(c)(d) | 342,570 | 342,142 | |
| SRS Distribution, Inc. Tranche B 1LN, term loan: | |||
| 1 month U.S. LIBOR + 3.500% 8.693% 6/4/28 (b)(c)(d) | 650,524 | 630,845 | |
| CME Term SOFR 3 Month Index + 3.500% 8.7025% 6/2/28 (b)(c)(d) | 197,304 | 192,249 | |
| Standard Industries, Inc./New Jersey Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.250% 7.6916% 9/22/28 (b)(c)(d) | 159,439 | 159,217 | |
| Traverse Midstream Partners Ll Tranche B, term loan CME TERM SOFR 6 MONTH INDEX + 4.250% 8.9373% 2/16/28 (b)(c)(d) | 238,303 | 235,920 | |
| USIC Holdings, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.693% 5/14/28 (b)(c)(d) | 388,088 | 366,743 | |
| White Capital Buyer LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.000% 8.8525% 10/19/27 (b)(c)(d) | 477,827 | 472,914 | |
TOTAL BUILDING MATERIALS | 5,938,368 | ||
| Cable/Satellite TV - 1.7% | |||
| Charter Communication Operating LLC Tranche B2 1LN, term loan CME Term SOFR 3 Month Index + 1.750% 6.7954% 2/1/27 (b)(c)(d) | 1,396,149 | 1,386,837 | |
| Coral-U.S. Co.-Borrower LLC Tranche B, term loan 1 month U.S. LIBOR + 2.250% 7.4433% 1/31/28 (b)(c)(d) | 775,000 | 763,181 | |
| CSC Holdings LLC: | |||
| Tranche B 5LN, term loan CME Term SOFR 1 Month Index + 2.500% 7.6933% 4/15/27 (b)(c)(d) | 353,040 | 307,522 | |
| Tranche B6 LN, term loan CME Term SOFR 1 Month Index + 4.500% 9.647% 1/18/28 (b)(c)(d) | 480,047 | 441,643 | |
| DIRECTV Financing LLC 1LN, term loan 1 month U.S. LIBOR + 5.000% 10.217% 8/2/27 (b)(c)(d) | 108,460 | 105,915 | |
| Virgin Media Bristol LLC: | |||
| Tranche N, term loan 1 month U.S. LIBOR + 2.500% 7.6933% 1/31/28 (b)(c)(d) | 500,000 | 495,125 | |
| Tranche Y 1LN, term loan CME Term SOFR 1 Month Index + 3.250% 8.3106% 3/6/31 (b)(c)(d) | 225,000 | 222,710 | |
TOTAL CABLE/SATELLITE TV | 3,722,933 | ||
| Capital Goods - 0.5% | |||
| Chart Industries, Inc. 1LN, term loan CME Term SOFR 1 Month Index + 3.750% 8.9406% 3/17/30 (b)(c)(d) | 504,200 | 502,728 | |
| CPM Holdings, Inc. 2LN, term loan 1 month U.S. LIBOR + 8.250% 13.4204% 11/15/26 (b)(c)(d) | 107,727 | 106,549 | |
| Griffon Corp. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.750% 7.6387% 1/24/29 (b)(c)(d) | 336,875 | 335,332 | |
| TNT Crane & Rigging LLC 2LN, term loan 3 month U.S. LIBOR + 8.750% 13.9266% 4/16/25 (b)(c)(d)(e) | 221,752 | 210,399 | |
TOTAL CAPITAL GOODS | 1,155,008 | ||
| Chemicals - 2.7% | |||
| ARC Falcon I, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.9525% 9/30/28 (b)(c)(d) | 598,847 | 557,928 | |
| Aruba Investment Holdings LLC: | |||
| 2LN, term loan 1 month U.S. LIBOR + 7.750% 12.943% 11/24/28 (b)(c)(d) | 135,000 | 118,800 | |
| Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.000% 9.2025% 11/24/27 (b)(c)(d) | 489,678 | 471,722 | |
| Avient Corp. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.250% 8.2954% 8/29/29 (b)(c)(d) | 109,088 | 109,383 | |
| Consolidated Energy Finance SA Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.500% 9.0379% 5/7/25 (b)(c)(d)(e) | 367,500 | 356,475 | |
| Cyanco Intermediate 2 Corp. term loan CME Term SOFR 1 Month Index + 4.750% 6/29/28 (c)(d)(f) | 105,000 | 102,113 | |
| Discovery Purchaser Corp. 1LN, term loan CME Term SOFR 3 Month Index + 4.370% 9.6169% 10/4/29 (b)(c)(d) | 567,225 | 541,524 | |
| Groupe Solmax, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.750% 10.121% 5/27/28 (b)(c)(d) | 246,851 | 231,579 | |
| Herens U.S. Holdco Corp. Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.000% 9.2669% 7/3/28 (b)(c)(d) | 323,455 | 272,602 | |
| Hexion Holdings Corp. 1LN, term loan CME Term SOFR 3 Month Index + 4.500% 9.7794% 3/15/29 (b)(c)(d) | 643,500 | 605,591 | |
| Hexion, Inc. 2LN, term loan CME Term SOFR 1 Month Index + 7.430% 12.6267% 3/15/30 (b)(c)(d) | 170,000 | 138,834 | |
| ICP Group Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.750% 9.2535% 12/29/27 (b)(c)(d) | 239,073 | 180,381 | |
| INEOS U.S. Finance LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.500% 8.7025% 2/10/30 (b)(c)(d) | 135,000 | 134,108 | |
| INEOS U.S. Petrochem LLC 1LN, term loan CME Term SOFR 1 Month Index + 3.750% 8.9525% 3/1/30 (b)(c)(d) | 140,000 | 139,650 | |
| Manchester Acquisition Sub LLC Tranche B 1LN, term loan CME Term SOFR 3 Month Index + 5.750% 11.1767% 12/1/26 (b)(c)(d) | 162,938 | 146,644 | |
| Olympus Water U.S. Holding Corp. Tranche B 1LN, term loan: | |||
| 3 month U.S. LIBOR + 3.750% 9.2535% 11/9/28 (b)(c)(d) | 433,400 | 415,522 | |
| CME Term SOFR 1 Month Index + 5.000% 11/9/28 (c)(d)(f) | 175,000 | 168,838 | |
| Starfruit U.S. Holdco LLC Tranche B 1LN, term loan: | |||
| CME Term SOFR 1 Month Index + 4.000% 8.9901% 4/3/28 (b)(c)(d) | 175,000 | 173,177 | |
| CME Term SOFR 1 Month Index + 4.000% 9.3181% 4/3/28 (b)(c)(d) | 332,156 | 328,522 | |
| The Chemours Co. LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 1.750% 6.9525% 4/3/25 (b)(c)(d) | 676,702 | 670,219 | |
TOTAL CHEMICALS | 5,863,612 | ||
| Consumer Products - 2.7% | |||
| 19Th Holdings Golf LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.250% 8.5242% 2/7/29 (b)(c)(d) | 425,788 | 414,078 | |
| Aip Rd Buyer Corp. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 5.000% 10.1025% 12/23/28 (b)(c)(d) | 440,000 | 433,950 | |
| BCPE Empire Holdings, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.750% 9.8325% 12/10/28 (b)(c)(d) | 870,887 | 867,760 | |
| Bombardier Recreational Products, Inc. Tranche B 1LN, term loan: | |||
| 1 month U.S. LIBOR + 2.000% 7.2025% 5/23/27 (b)(c)(d) | 155,572 | 154,163 | |
| CME Term SOFR 1 Month Index + 3.500% 8.6025% 12/13/29 (b)(c)(d) | 303,475 | 303,190 | |
| CNT Holdings I Corp. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.500% 8.4587% 11/8/27 (b)(c)(d) | 488,750 | 486,551 | |
| Diamond BC BV Tranche B 1LN, term loan 3 month U.S. LIBOR + 2.750% 8.0569% 9/29/28 (b)(c)(d) | 294,532 | 294,058 | |
| Knowlton Development Corp., Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.967% 12/21/25 (b)(c)(d) | 315,114 | 306,212 | |
| Kronos Acquisition Holdings, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.750% 9.2535% 12/22/26 (b)(c)(d) | 512,492 | 498,557 | |
| Mattress Firm, Inc. Tranche B 1LN, term loan 6 month U.S. LIBOR + 4.250% 9.95% 9/24/28 (b)(c)(d) | 376,940 | 368,146 | |
| Petco Health & Wellness Co., Inc. Tranche B 1LN, term loan CME Term SOFR 3 Month Index + 3.250% 8.7535% 3/4/28 (b)(c)(d) | 317,314 | 314,680 | |
| Runner Buyer, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 5.500% 10.693% 10/21/28 (b)(c)(d) | 251,813 | 192,795 | |
| Sweetwater Borrower LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.250% 9.467% 8/5/28 (b)(c)(d) | 452,903 | 427,993 | |
| TGP Holdings III LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.4525% 6/29/28 (b)(c)(d) | 94,117 | 78,331 | |
| Windsor Holdings III, LLC Tranche B 1LN, term loan CME Term SOFR 3 Month Index + 4.500% 6/22/30 (c)(d)(f) | 410,000 | 402,415 | |
| Woof Holdings LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.750% 8.9537% 12/21/27 (b)(c)(d) | 396,628 | 387,704 | |
TOTAL CONSUMER PRODUCTS | 5,930,583 | ||
| Containers - 2.4% | |||
| AOT Packaging Products AcquisitionCo LLC 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.467% 3/3/28 (b)(c)(d) | 509,034 | 494,863 | |
| Berlin Packaging, LLC Tranche B 1LN, term loan: | |||
| 1 month U.S. LIBOR + 3.250% 8.43% 3/11/28 (b)(c)(d) | 87,975 | 85,537 | |
| 1 month U.S. LIBOR + 3.750% 8.9474% 3/11/28 (b)(c)(d) | 759,604 | 745,840 | |
| Berry Global, Inc. Tranche Z 1LN, term loan 1 month U.S. LIBOR + 1.750% 6.9724% 7/1/26 (b)(c)(d) | 452,720 | 452,027 | |
| Canister International Group, Inc. 1LN, term loan 1 month U.S. LIBOR + 4.750% 9.9525% 12/21/26 (b)(c)(d) | 241,875 | 241,633 | |
| Charter NEX U.S., Inc. 1LN, term loan CME Term SOFR 1 Month Index + 3.750% 8.967% 12/1/27 (b)(c)(d) | 458,250 | 454,240 | |
| Graham Packaging Co., Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.000% 8.217% 8/4/27 (b)(c)(d) | 752,144 | 746,857 | |
| Kloeckner Pentaplast of America, Inc. Tranche B 1LN, term loan CME TERM SOFR 6 MONTH INDEX + 4.750% 10.1043% 2/9/26 (b)(c)(d) | 313,600 | 297,136 | |
| Pregis TopCo Corp. 1LN, term loan: | |||
| 3 month U.S. LIBOR + 3.750% 8.943% 8/1/26 (b)(c)(d) | 245,625 | 242,786 | |
| 3 month U.S. LIBOR + 4.000% 8.967% 7/31/26 (b)(c)(d) | 241,250 | 239,412 | |
| Reynolds Consumer Products LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 1.750% 6.9525% 1/30/27 (b)(c)(d) | 588,170 | 587,370 | |
| Reynolds Group Holdings, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.467% 9/24/28 (b)(c)(d) | 422,475 | 420,793 | |
| Ring Container Technologies Group LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.717% 8/12/28 (b)(c)(d) | 300,425 | 298,848 | |
TOTAL CONTAINERS | 5,307,342 | ||
| Diversified Financial Services - 2.4% | |||
| AlixPartners LLP Tranche B 1LN, term loan 1 month U.S. LIBOR + 2.500% 7.717% 2/4/28 (b)(c)(d) | 272,177 | 271,361 | |
| AVSC Holding Corp. Tranche B2 1LN, term loan 3 month U.S. LIBOR + 5.500% 10.6817% 10/15/26 (b)(c)(d) | 371,418 | 366,868 | |
| BCP Renaissance Parent LLC Tranche B3 1LN, term loan CME Term SOFR 3 Month Index + 3.500% 8.7419% 10/31/26 (b)(c)(d) | 409,698 | 407,723 | |
| Broadstreet Partners, Inc.: | |||
| Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.467% 1/27/27 (b)(c)(d) | 181,763 | 179,945 | |
| Tranche B3 1LN, term loan CME Term SOFR 1 Month Index + 4.000% 9.1603% 1/26/29 (b)(c)(d) | 220,000 | 218,405 | |
| Eagle 4 Ltd. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.7535% 7/12/28 (b)(c)(d) | 240,712 | 238,606 | |
| Finco I LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 2.500% 8.081% 6/27/25 (b)(c)(d) | 92,105 | 91,990 | |
| Focus Financial Partners LLC: | |||
| Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.500% 7.6025% 6/24/28 (b)(c)(d) | 122,558 | 120,941 | |
| Tranche B5 1LN, term loan CME Term SOFR 1 Month Index + 3.250% 8.3525% 6/30/28 (b)(c)(d) | 377,150 | 373,797 | |
| Fugue Finance LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.500% 9.7637% 1/25/28 (b)(c)(d) | 230,000 | 229,138 | |
| GT Polaris, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 9.0227% 9/24/27 (b)(c)(d) | 312,018 | 288,161 | |
| HarbourVest Partners LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.750% 8.2419% 4/20/30 (b)(c)(d) | 468,678 | 467,506 | |
| Hightower Holding LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.000% 9.1504% 4/21/28 (b)(c)(d) | 310,275 | 301,355 | |
| LSF11 Trinity Bidco, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.500% 9.647% 4/27/30 (b)(c)(d) | 85,000 | 84,575 | |
| Nexus Buyer LLC 2LN, term loan 1 month U.S. LIBOR + 6.250% 11.4525% 11/1/29 (b)(c)(d) | 220,000 | 196,075 | |
| RCS Capital Corp. 1LN, term loan CME Term SOFR 1 Month Index + 4.500% 3/8/30 (c)(d)(f) | 100,000 | 99,688 | |
| TransUnion LLC: | |||
| Tranche B5 1LN, term loan CME Term SOFR 1 Month Index + 1.750% 7.0034% 11/16/26 (b)(c)(d) | 419,773 | 418,257 | |
| Tranche B6 1LN, term loan CME Term SOFR 1 Month Index + 2.250% 7.467% 12/1/28 (b)(c)(d) | 231,911 | 231,162 | |
| UFC Holdings LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 2.750% 8.05% 4/29/26 (b)(c)(d) | 204,571 | 204,201 | |
| WH Borrower LLC Tranche B 1LN, term loan: | |||
| CME Term SOFR 1 Month Index + 5.500% 10.4863% 2/9/27 (b)(c)(d) | 366,052 | 358,731 | |
| CME Term SOFR 1 Month Index + 5.500% 10.4863% 2/15/27 (b)(c)(d) | 229,425 | 225,410 | |
TOTAL DIVERSIFIED FINANCIAL SERVICES | 5,373,895 | ||
| Diversified Media - 0.8% | |||
| Advantage Sales & Marketing, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.500% 9.7189% 10/28/27 (b)(c)(d) | 376,769 | 353,459 | |
| Allen Media LLC Tranche B 1LN, term loan CME Term SOFR 3 Month Index + 5.500% 10.8919% 2/10/27 (b)(c)(d) | 759,407 | 653,902 | |
| Cmg Media Corp. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.8419% 12/17/26 (b)(c)(d) | 938,649 | 838,918 | |
TOTAL DIVERSIFIED MEDIA | 1,846,279 | ||
| Energy - 2.4% | |||
| American Consolidated Natural term loan 21.2681% 9/16/25 (b)(d) | 27,082 | 27,082 | |
| Apro LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.750% 9.2463% 11/14/26 (b)(c)(d) | 393,821 | 390,473 | |
| Array Technologies, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.250% 8.6751% 10/14/27 (b)(c)(d) | 383,868 | 379,550 | |
| BW Gas & Convenience Holdings LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.693% 3/17/28 (b)(c)(d) | 274,400 | 265,482 | |
| CQP Holdco LP / BIP-V Chinook Holdco LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.693% 6/4/28 (b)(c)(d) | 1,043,616 | 1,041,007 | |
| Delek U.S. Holdings, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.500% 8.7025% 11/19/29 (b)(c)(d) | 553,085 | 544,905 | |
| EG America LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 5.500% 2/7/28 (c)(d)(f) | 400,000 | 383,000 | |
| EG Finco Ltd. Tranche B, term loan 3 month U.S. LIBOR + 4.000% 9.1645% 2/6/25 (b)(c)(d) | 298,463 | 292,992 | |
| Esdec Solar Group BV Tranche B 1LN, term loan 6 month U.S. LIBOR + 4.750% 9.9596% 8/27/28 (b)(c)(d) | 231,250 | 228,938 | |
| GIP II Blue Holding LP Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.500% 9.717% 9/29/28 (b)(c)(d) | 550,938 | 551,725 | |
| GIP III Stetson I LP Tranche B, term loan 1 month U.S. LIBOR + 4.250% 9.4525% 7/18/25 (b)(c)(d) | 397,620 | 396,626 | |
| Par Petroleum LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.250% 9.6137% 2/14/30 (b)(c)(d) | 155,000 | 152,159 | |
| Rockwood Service Corp. Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.000% 9.217% 1/23/27 (b)(c)(d) | 314,334 | 313,784 | |
| Win Waste Innovations Holdings Tranche B 1LN, term loan 3 month U.S. LIBOR + 2.750% 7.967% 3/25/28 (b)(c)(d) | 314,430 | 268,444 | |
TOTAL ENERGY | 5,236,167 | ||
| Entertainment/Film - 0.1% | |||
| AP Core Holdings II LLC: | |||
| Tranche B1 1LN, term loan 1 month U.S. LIBOR + 5.500% 10.717% 9/1/27 (b)(c)(d) | 182,500 | 175,315 | |
| Tranche B2 1LN, term loan 1 month U.S. LIBOR + 5.500% 10.717% 9/1/27 (b)(c)(d) | 110,000 | 106,150 | |
TOTAL ENTERTAINMENT/FILM | 281,465 | ||
| Environmental - 0.4% | |||
| Clean Harbors, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 2.000% 7.193% 10/8/28 (b)(c)(d) | 142,825 | 142,611 | |
| Covanta Holding Corp.: | |||
| Tranche B 1LN, term loan: | |||
CME Term SOFR 1 Month Index + 2.500% 7.6025% 11/30/28 (b)(c)(d) | 200,256 | 198,285 | |
CME Term SOFR 1 Month Index + 3.000% 8.1476% 11/30/28 (b)(c)(d) | 93,023 | 92,500 | |
| Tranche C 1LN, term loan: | |||
CME Term SOFR 1 Month Index + 2.500% 7.6025% 11/30/28 (b)(c)(d) | 15,190 | 15,041 | |
CME Term SOFR 1 Month Index + 3.000% 8.1476% 11/30/28 (b)(c)(d) | 6,977 | 6,938 | |
| Madison IAQ LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.250% 8.3023% 6/21/28 (b)(c)(d) | 452,413 | 442,573 | |
TOTAL ENVIRONMENTAL | 897,948 | ||
| Food & Drug Retail - 0.4% | |||
| Cardenas Merger Sub, LLC 1LN, term loan CME TERM SOFR 6 MONTH INDEX + 6.750% 12.0919% 8/1/29 (b)(c)(d) | 398,072 | 393,510 | |
| Froneri U.S., Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 2.250% 7.4525% 1/29/27 (b)(c)(d) | 284,530 | 282,609 | |
| JP Intermediate B LLC Tranche B, term loan 3 month U.S. LIBOR + 5.500% 10.7727% 11/20/25 (b)(c)(d) | 439,214 | 197,646 | |
TOTAL FOOD & DRUG RETAIL | 873,765 | ||
| Food/Beverage/Tobacco - 1.3% | |||
| 8th Avenue Food & Provisions, Inc.: | |||
| 2LN, term loan 1 month U.S. LIBOR + 7.750% 13.0179% 10/1/26 (b)(c)(d) | 80,000 | 52,560 | |
| Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.967% 10/1/25 (b)(c)(d) | 135,910 | 124,503 | |
| Bengal Debt Merger Sub LLC: | |||
| 1LN, term loan CME Term SOFR 3 Month Index + 3.250% 8.59% 1/24/29 (b)(c)(d) | 415,800 | 385,987 | |
| 2LN, term loan CME Term SOFR 3 Month Index + 6.000% 11.3419% 1/24/30 (b)(c)(d) | 185,000 | 145,688 | |
| Chobani LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.717% 10/23/27 (b)(c)(d) | 407,107 | 404,391 | |
| Del Monte Foods, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.250% 9.4392% 5/16/29 (b)(c)(d) | 717,641 | 693,421 | |
| Shearer's Foods, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.717% 9/23/27 (b)(c)(d) | 387,663 | 382,333 | |
| Triton Water Holdings, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.500% 8.4919% 3/31/28 (b)(c)(d) | 774,201 | 747,228 | |
TOTAL FOOD/BEVERAGE/TOBACCO | 2,936,111 | ||
| Gaming - 4.0% | |||
| Bally's Corp. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.3963% 10/1/28 (b)(c)(d) | 334,466 | 326,446 | |
| Caesars Entertainment, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.250% 8.4525% 1/26/30 (b)(c)(d) | 1,950,113 | 1,948,338 | |
| Churchill Downs, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.000% 7.2534% 3/17/28 (b)(c)(d) | 0 | 0 | |
| Fertitta Entertainment LLC NV Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.000% 9.1025% 1/27/29 (b)(c)(d) | 2,357,177 | 2,323,304 | |
| Flutter Financing B.V. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.250% 8.7535% 7/4/28 (b)(c)(d) | 148,875 | 148,976 | |
| Golden Entertainment, Inc.: | |||
| Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.750% 7.9392% 5/26/30 (b)(c)(d) | 480,000 | 478,800 | |
| Tranche B, term loan 3 month U.S. LIBOR + 3.000% 8.18% 10/20/24 (b)(c)(d) | 182,882 | 182,597 | |
| GVC Holdings Gibraltar Ltd.: | |||
| Tranche B2 1LN, term loan CME Term SOFR 1 Month Index + 3.500% 8.4368% 10/31/29 (b)(c)(d) | 313,925 | 312,434 | |
| Tranche B4 1LN, term loan 3 month U.S. LIBOR + 2.250% 7.4368% 3/16/27 (b)(c)(d) | 274,400 | 273,143 | |
| J&J Ventures Gaming LLC 1LN, term loan 3 month U.S. LIBOR + 4.000% 9.5379% 4/26/28 (b)(c)(d) | 280,013 | 276,599 | |
| PCI Gaming Authority 1LN, term loan 1 month U.S. LIBOR + 2.500% 7.717% 5/29/26 (b)(c)(d) | 135,299 | 135,323 | |
| Scientific Games Corp. 1LN, term loan CME Term SOFR 1 Month Index + 3.000% 8.2476% 4/14/29 (b)(c)(d) | 450,450 | 449,252 | |
| Scientific Games Holdings LP term loan CME Term SOFR 3 Month Index + 3.500% 8.4206% 4/4/29 (b)(c)(d) | 486,325 | 479,881 | |
| Stars Group Holdings BV Tranche B 1LN, term loan 3 month U.S. LIBOR + 2.250% 7.7535% 7/21/26 (b)(c)(d) | 888,351 | 887,578 | |
| Station Casinos LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 2.250% 7.45% 2/7/27 (b)(c)(d) | 645,383 | 642,783 | |
TOTAL GAMING | 8,865,454 | ||
| Healthcare - 4.6% | |||
| AHP Health Partners, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.693% 8/24/28 (b)(c)(d) | 295,418 | 294,384 | |
| Avantor Funding, Inc. Tranche B5 1LN, term loan CME Term SOFR 1 Month Index + 2.250% 7.4525% 11/6/27 (b)(c)(d) | 300,462 | 300,129 | |
| Charlotte Buyer, Inc. Tranche B 1LN, term loan CME Term SOFR 3 Month Index + 5.250% 10.3964% 2/12/28 (b)(c)(d) | 169,150 | 165,386 | |
| Da Vinci Purchaser Corp. Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.000% 9.217% 1/8/27 (b)(c)(d) | 341,816 | 334,980 | |
| Elanco Animal Health, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 1.750% 7.0103% 8/1/27 (b)(c)(d) | 585,455 | 574,296 | |
| Electron BidCo, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.000% 8.217% 11/1/28 (b)(c)(d) | 176,956 | 175,997 | |
| Embecta Corp. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.000% 8.2419% 3/31/29 (b)(c)(d) | 307,212 | 305,420 | |
| Gainwell Acquisition Corp. Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.000% 9.3419% 10/1/27 (b)(c)(d) | 1,585,182 | 1,559,423 | |
| HAH Group Holding Co. LLC 1LN, term loan CME Term SOFR 3 Month Index + 5.000% 10.21% 10/29/27 (b)(c)(d) | 114,823 | 111,809 | |
| Horizon Pharma U.S.A., Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 1.750% 6.9537% 3/15/28 (b)(c)(d) | 278,588 | 277,643 | |
| ICU Medical, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.500% 7.8919% 1/6/29 (b)(c)(d) | 316,000 | 312,148 | |
| Insulet Corp. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.250% 8.467% 5/4/28 (b)(c)(d) | 649,156 | 648,345 | |
| Jazz Financing Lux SARL Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.693% 5/5/28 (b)(c)(d) | 743,435 | 742,238 | |
| Maravai Intermediate Holdings LLC Tranche B 1LN, term loan CME Term SOFR 3 Month Index + 3.000% 8.0279% 10/19/27 (b)(c)(d) | 234,794 | 234,500 | |
| MED ParentCo LP: | |||
| 1LN, term loan 1 month U.S. LIBOR + 4.250% 9.467% 8/31/26 (b)(c)(d) | 274,547 | 254,079 | |
| 2LN, term loan 1 month U.S. LIBOR + 8.250% 13.467% 8/30/27 (b)(c)(d) | 180,000 | 146,700 | |
| Mozart Borrower LP Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.467% 10/23/28 (b)(c)(d) | 557,752 | 550,953 | |
| Organon & Co. Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.000% 8.25% 6/2/28 (b)(c)(d) | 572,777 | 571,883 | |
| Packaging Coordinators Midco, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.500% 9.0035% 11/30/27 (b)(c)(d) | 366,563 | 360,778 | |
| Pathway Vet Alliance LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.750% 8.943% 3/31/27 (b)(c)(d) | 497,641 | 437,924 | |
| Phoenix Newco, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.467% 11/15/28 (b)(c)(d) | 711,049 | 704,649 | |
| PRA Health Sciences, Inc. Tranche B 1LN, term loan CME Term SOFR 3 Month Index + 2.250% 7.7535% 7/3/28 (b)(c)(d) | 275,637 | 275,480 | |
| Surgery Center Holdings, Inc. 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.8963% 8/31/26 (b)(c)(d) | 326,914 | 326,283 | |
| U.S. Anesthesia Partners, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.250% 9.4204% 10/1/28 (b)(c)(d) | 235,658 | 220,930 | |
| Upstream Newco, Inc. 1LN, term loan 1 month U.S. LIBOR + 4.250% 9.7535% 11/20/26 (b)(c)(d) | 287,505 | 255,161 | |
TOTAL HEALTHCARE | 10,141,518 | ||
| Homebuilders/Real Estate - 0.7% | |||
| Breakwater Energy Tranche B 1LN, term loan 11% 9/1/26 (b)(d)(e) | 463,729 | 440,543 | |
| DTZ U.S. Borrower LLC Tranche B 1LN, term loan: | |||
| 1 month U.S. LIBOR + 2.750% 7.967% 8/21/25 (b)(c)(d) | 256,935 | 254,366 | |
| CME Term SOFR 1 Month Index + 3.250% 8.4525% 1/24/30 (b)(c)(d) | 324,087 | 313,554 | |
| Fluidra Finco SL Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.000% 7.2025% 1/27/29 (b)(c)(d) | 222,318 | 220,882 | |
| Ryan Specialty Group LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.000% 8.2025% 9/1/27 (b)(c)(d) | 286,567 | 285,939 | |
TOTAL HOMEBUILDERS/REAL ESTATE | 1,515,284 | ||
| Hotels - 2.1% | |||
| ASP LS Acquisition Corp. Tranche B 1LN, term loan 6 month U.S. LIBOR + 4.500% 9.693% 5/7/28 (b)(c)(d) | 368,438 | 302,119 | |
| BRE/Everbright M6 Borrower LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 5.000% 10.2054% 9/9/26 (b)(c)(d) | 135,958 | 135,279 | |
| Carnival Finance LLC Tranche B 1LN, term loan: | |||
| 6 month U.S. LIBOR + 3.000% 8.217% 6/30/25 (b)(c)(d) | 402,550 | 401,668 | |
| 6 month U.S. LIBOR + 3.250% 8.467% 10/18/28 (b)(c)(d) | 479,892 | 475,094 | |
| Four Seasons Hotels Ltd. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.250% 8.4525% 11/30/29 (b)(c)(d) | 74,625 | 74,718 | |
| Hilton Grand Vacations Borrower LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.000% 8.217% 8/2/28 (b)(c)(d) | 1,490,819 | 1,485,228 | |
| Hilton Worldwide Finance LLC Tranche B 1LN, term loan CME Term SOFR 3 Month Index + 1.750% 6.9392% 6/21/26 (b)(c)(d) | 126,445 | 126,253 | |
| Marriott Ownership Resorts, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 1.750% 6.943% 8/31/25 (b)(c)(d) | 397,104 | 395,714 | |
| Oravel Stays Singapore Pte Ltd. Tranche B 1LN, term loan 3 month U.S. LIBOR + 8.250% 13.79% 6/23/26 (b)(c)(d) | 254,800 | 214,988 | |
| Playa Resorts Holding BV Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.250% 9.3406% 1/5/29 (b)(c)(d) | 228,850 | 228,015 | |
| Travelport Finance Luxembourg SARL 1LN, term loan 3 month U.S. LIBOR + 8.750% 13.4525% 2/28/25 (b)(c)(d) | 804,698 | 789,111 | |
TOTAL HOTELS | 4,628,187 | ||
| Insurance - 4.6% | |||
| Acrisure LLC Tranche B 1LN, term loan: | |||
| 1 month U.S. LIBOR + 3.500% 8.693% 2/15/27 (b)(c)(d) | 1,118,628 | 1,083,872 | |
| 1 month U.S. LIBOR + 4.250% 9.443% 2/15/27 (b)(c)(d) | 876,292 | 856,944 | |
| CME Term SOFR 1 Month Index + 5.750% 10.8227% 2/15/27 (b)(c)(d) | 549,175 | 550,548 | |
| Alliant Holdings Intermediate LLC: | |||
| Tranche B3 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.6504% 11/12/27 (b)(c)(d) | 200,044 | 198,686 | |
| Tranche B5 1LN, term loan CME Term SOFR 1 Month Index + 3.500% 8.647% 11/6/27 (b)(c)(d) | 395,956 | 393,152 | |
| AmWINS Group, Inc. Tranche B 1LN, term loan: | |||
| 1 month U.S. LIBOR + 2.250% 7.443% 2/19/28 (b)(c)(d) | 588,060 | 582,109 | |
| CME Term SOFR 1 Month Index + 2.750% 7.9525% 2/19/28 (b)(c)(d) | 139,300 | 138,807 | |
| Amynta Agency Borrower, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 5.000% 10.2025% 2/28/28 (b)(c)(d) | 225,000 | 218,392 | |
| AssuredPartners, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.717% 2/13/27 (b)(c)(d) | 439,075 | 435,049 | |
| Asurion LLC: | |||
| Tranche B11 1LN, term loan CME Term SOFR 1 Month Index + 4.250% 9.4525% 8/19/28 (b)(c)(d) | 591,019 | 561,101 | |
| Tranche B3 2LN, term loan 1 month U.S. LIBOR + 5.250% 10.5053% 1/31/28 (b)(c)(d) | 1,005,000 | 852,371 | |
| Tranche B4 2LN, term loan 1 month U.S. LIBOR + 5.250% 10.467% 1/20/29 (b)(c)(d) | 525,000 | 439,031 | |
| Tranche B8 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.7879% 12/23/26 (b)(c)(d) | 975,000 | 937,463 | |
| Tranche B9 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.7879% 7/31/27 (b)(c)(d) | 591,388 | 558,536 | |
| HUB International Ltd. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.250% 6/8/30 (c)(d)(f) | 1,483,511 | 1,486,196 | |
| USI, Inc. 1LN, term loan: | |||
| 1 month U.S. LIBOR + 3.250% 8.7879% 12/2/26 (b)(c)(d) | 120,630 | 120,460 | |
| CME Term SOFR 1 Month Index + 3.750% 8.9919% 11/22/29 (b)(c)(d) | 744,513 | 742,651 | |
TOTAL INSURANCE | 10,155,368 | ||
| Leisure - 2.5% | |||
| Alterra Mountain Co. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.693% 8/17/28 (b)(c)(d) | 354,937 | 353,606 | |
| Arcis Golf LLC: | |||
| Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.250% 9.467% 11/24/28 (b)(c)(d) | 251,264 | 251,578 | |
| Tranche DD 1LN, term loan CME Term SOFR 1 Month Index + 4.250% 11/24/28 (c)(d)(f) | 11,000 | 11,014 | |
| City Football Group Ltd. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.000% 8.2727% 7/21/28 (b)(c)(d) | 704,275 | 690,190 | |
| ClubCorp Holdings, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 2.750% 8.2879% 9/18/24 (b)(c)(d) | 159,577 | 152,737 | |
| Crown Finance U.S., Inc.: | |||
| 1LN, term loan CME Term SOFR 1 Month Index + 10.000% 15.1943% 9/9/23 (b)(c)(d) | 202,735 | 204,552 | |
| Tranche B 1LN, term loan 3 month U.S. LIBOR + 2.750% 4.2497% 9/30/26 (b)(c)(d) | 365,618 | 109,426 | |
| Delta 2 SARL Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.000% 8.1025% 1/15/30 (b)(c)(d) | 630,000 | 629,685 | |
| Equinox Holdings, Inc.: | |||
| Tranche 2LN, term loan 3 month U.S. LIBOR + 7.000% 12.731% 9/8/24 (b)(c)(d) | 250,000 | 186,458 | |
| Tranche B-1, term loan 3 month U.S. LIBOR + 3.000% 8.73% 3/8/24 (b)(c)(d) | 703,341 | 651,385 | |
| Herschend Entertainment Co. LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.967% 8/27/28 (b)(c)(d) | 186,675 | 186,830 | |
| Lids Holdings, Inc. 1LN, term loan CME Term SOFR 3 Month Index + 5.500% 10.8681% 12/14/26 (b)(c)(d)(e) | 341,250 | 317,363 | |
| SeaWorld Parks & Entertainment, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.000% 8.25% 8/25/28 (b)(c)(d) | 294,750 | 293,553 | |
| SP PF Buyer LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.500% 9.717% 12/21/25 (b)(c)(d) | 359,063 | 258,525 | |
| Topgolf Callaway Brands Corp. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.500% 8.7025% 3/9/30 (b)(c)(d) | 553,613 | 552,688 | |
| United PF Holdings LLC: | |||
| 1LN, term loan 3 month U.S. LIBOR + 4.000% 9.217% 12/30/26 (b)(c)(d) | 603,701 | 447,342 | |
| 2LN, term loan 3 month U.S. LIBOR + 8.500% 13.6139% 12/30/27 (b)(c)(d) | 125,000 | 87,500 | |
| Tranche B 1LN, term loan 1 month U.S. LIBOR + 8.500% 12.717% 12/30/26 (b)(c)(d) | 131,288 | 97,809 | |
TOTAL LEISURE | 5,482,241 | ||
| Metals/Mining - 0.1% | |||
| U.S. Silica Co. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.750% 9.9525% 3/23/30 (b)(c)(d) | 223,372 | 221,418 | |
| Paper - 0.7% | |||
| Ahlstrom-Munksjo OYJ 1LN, term loan 3 month U.S. LIBOR + 3.750% 9.2879% 2/4/28 (b)(c)(d) | 148,982 | 138,926 | |
| Clydesdale Acquisition Holdings, Inc. 1LN, term loan CME Term SOFR 1 Month Index + 4.170% 9.3775% 4/13/29 (b)(c)(d) | 1,509,750 | 1,483,828 | |
TOTAL PAPER | 1,622,754 | ||
| Publishing/Printing - 0.5% | |||
| Harland Clarke Holdings Corp. 1LN, term loan CME Term SOFR 1 Month Index + 7.750% 13.2535% 6/16/26 (b)(c)(d) | 221,928 | 194,267 | |
| Learning Care Group (U.S.) No 2, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 8.500% 13.925% 3/13/25 (b)(c)(d) | 330,650 | 330,237 | |
| MJH Healthcare Holdings LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.500% 8.7025% 1/28/29 (b)(c)(d) | 197,500 | 195,525 | |
| RLG Holdings LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.250% 9.467% 7/8/28 (b)(c)(d) | 280,725 | 266,268 | |
TOTAL PUBLISHING/PRINTING | 986,297 | ||
| Railroad - 0.8% | |||
| AIT Worldwide Logistics Holdings, Inc. 1LN, term loan 3 month U.S. LIBOR + 4.750% 9.9317% 4/6/28 (b)(c)(d) | 289,838 | 280,128 | |
| Echo Global Logistics, Inc. 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.7025% 11/23/28 (b)(c)(d) | 555,788 | 537,492 | |
| Genesee & Wyoming, Inc. 1LN, term loan CME Term SOFR 3 Month Index + 2.000% 7.3419% 12/30/26 (b)(c)(d) | 517,613 | 516,805 | |
| Wwex Unified Topco Holdings LLC 1LN, term loan CME Term SOFR 1 Month Index + 4.250% 9.5035% 7/26/28 (b)(c)(d) | 428,475 | 406,160 | |
TOTAL RAILROAD | 1,740,585 | ||
| Restaurants - 1.0% | |||
| Burger King Worldwide, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 1.750% 6.943% 11/19/26 (b)(c)(d) | 348,950 | 346,186 | |
| Dave & Buster's, Inc. Tranche B 1LN, term loan: | |||
| CME Term SOFR 1 Month Index + 3.750% 6/29/29 (c)(d)(f) | 115,000 | 114,425 | |
| CME Term SOFR 1 Month Index + 5.000% 10.3125% 6/29/29 (b)(c)(d) | 223,313 | 223,174 | |
| Flynn Restaurant Group LP Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.250% 9.467% 11/22/28 (b)(c)(d) | 152,675 | 150,614 | |
| PFC Acquisition Corp. Tranche B 1LN, term loan 3 month U.S. LIBOR + 6.250% 11.443% 3/1/26 (b)(c)(d) | 359,063 | 341,468 | |
| Restaurant Technologies, Inc. Tranche B 1LN, term loan CME Term SOFR 3 Month Index + 4.250% 9.4919% 4/1/29 (b)(c)(d) | 182,687 | 177,815 | |
| Whatabrands LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.467% 8/3/28 (b)(c)(d) | 749,122 | 743,736 | |
TOTAL RESTAURANTS | 2,097,418 | ||
| Services - 10.2% | |||
| ABG Intermediate Holdings 2 LLC: | |||
| Tranche B 2LN, term loan CME Term SOFR 1 Month Index + 6.000% 11.2025% 12/20/29 (b)(c)(d) | 210,000 | 194,250 | |
| Tranche B1 LN, term loan CME Term SOFR 1 Month Index + 3.500% 8.7025% 12/21/28 (b)(c)(d) | 1,442,772 | 1,434,476 | |
| Tranche B2 1LN, term loan CME Term SOFR 1 Month Index + 4.000% 9.2025% 12/21/28 (b)(c)(d) | 617,531 | 615,061 | |
| Tranche DD 1LN, term loan CME Term SOFR 1 Month Index + 4.000% 12/21/28 (c)(d)(g) | 202,469 | 201,659 | |
| AEA International Holdings Luxembourg SARL Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.750% 9.2535% 9/7/28 (b)(c)(d) | 211,775 | 210,981 | |
| All-Star Bidco AB: | |||
| Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.900% 8.95% 11/16/28 (b)(c)(d) | 158,000 | 157,210 | |
| Tranche B1 1LN, term loan 3 month U.S. LIBOR + 3.500% 8.55% 11/16/28 (b)(c)(d) | 310,275 | 305,429 | |
| Allied Universal Holdco LLC Tranche B 1LN, term loan: | |||
| CME Term SOFR 1 Month Index + 3.750% 8.9525% 5/14/28 (b)(c)(d) | 589,994 | 572,624 | |
| CME Term SOFR 1 Month Index + 4.750% 9.8805% 5/14/28 (b)(c)(d) | 205,000 | 199,961 | |
| APX Group, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.46% 7/9/28 (b)(c)(d) | 417,563 | 416,974 | |
| ARAMARK Corp. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.750% 7.9138% 6/13/30 (b)(c)(d) | 75,319 | 75,225 | |
| Archkey Holdings, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 5.250% 10.6075% 6/30/28 (b)(c)(d) | 138,241 | 136,513 | |
| Ascend Learning LLC: | |||
| 2LN, term loan 1 month U.S. LIBOR + 5.750% 10.9525% 12/10/29 (b)(c)(d) | 70,000 | 59,208 | |
| Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.7025% 12/10/28 (b)(c)(d) | 712,878 | 668,658 | |
| Asurion LLC 1LN, term loan CME Term SOFR 3 Month Index + 4.000% 9.2025% 8/19/28 (b)(c)(d) | 992,436 | 938,159 | |
| Avis Budget Group, Inc. 1LN, term loan CME Term SOFR 1 Month Index + 3.500% 8.7025% 3/16/29 (b)(c)(d) | 93,813 | 93,890 | |
| Brand Energy & Infrastructure Services, Inc. Tranche B, term loan 3 month U.S. LIBOR + 4.250% 9.42% 6/21/24 (b)(c)(d) | 1,306,613 | 1,288,372 | |
| Cast & Crew Payroll LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.693% 2/7/26 (b)(c)(d) | 577,853 | 567,382 | |
| CHG Healthcare Services, Inc. 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.443% 9/30/28 (b)(c)(d) | 201,042 | 199,886 | |
| CoreLogic, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.75% 6/2/28 (b)(c)(d) | 992,325 | 894,581 | |
| EAB Global, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.500% 8.87% 8/16/28 (b)(c)(d) | 167,875 | 165,725 | |
| EmployBridge LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.750% 9.93% 7/19/28 (b)(c)(d) | 501,075 | 402,468 | |
| Ensemble RCM LLC 1LN, term loan CME Term SOFR 1 Month Index + 3.750% 8.8954% 8/1/26 (b)(c)(d) | 448,603 | 448,043 | |
| Filtration Group Corp. 1LN, term loan CME Term SOFR 1 Month Index + 4.250% 9.4537% 10/19/28 (b)(c)(d) | 446,153 | 445,595 | |
| Finastra U.S.A., Inc.: | |||
| Tranche 2LN, term loan 3 month U.S. LIBOR + 7.250% 12.981% 6/13/25 (b)(c)(d) | 285,000 | 256,893 | |
| Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.500% 9.231% 6/13/24 (b)(c)(d) | 916,962 | 879,806 | |
| Flexera Software LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.967% 3/3/28 (b)(c)(d) | 263,032 | 258,839 | |
| Franchise Group, Inc. Tranche B 1LN, term loan: | |||
| CME Term SOFR 3 Month Index + 4.750% 9.9703% 3/10/26 (b)(c)(d) | 511,426 | 467,955 | |
| CME Term SOFR 3 Month Index + 4.750% 10.0929% 3/10/26 (b)(c)(d) | 160,000 | 147,600 | |
| Galaxy U.S. Opco, Inc. 1LN, term loan CME Term SOFR 1 Month Index + 4.750% 9.8525% 4/29/29 (b)(c)(d) | 272,938 | 255,879 | |
| GEMS MENASA Cayman Ltd. Tranche B 1LN, term loan 6 month U.S. LIBOR + 5.000% 10.5254% 7/30/26 (b)(c)(d) | 513,362 | 513,470 | |
| Greeneden U.S. Holdings II LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.000% 9.193% 12/1/27 (b)(c)(d) | 366,563 | 365,254 | |
| Indy U.S. Bidco LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.8525% 3/5/28 (b)(c)(d) | 332,380 | 307,451 | |
| Ion Trading Finance Ltd. Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.750% 10.0919% 3/26/28 (b)(c)(d) | 951,978 | 931,920 | |
| KNS Acquisitions, Inc. Tranche B 1LN, term loan 6 month U.S. LIBOR + 6.250% 11.467% 4/21/27 (b)(c)(d) | 262,969 | 213,444 | |
| KUEHG Corp. 1LN, term loan CME Term SOFR 1 Month Index + 5.000% 10.2419% 6/12/30 (b)(c)(d) | 1,000,000 | 988,750 | |
| Life Time, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.750% 9.8003% 1/15/26 (b)(c)(d) | 170,000 | 169,947 | |
| Maverick Purchaser Sub LLC: | |||
| Tranche B 1LN, term loan: | |||
1 month U.S. LIBOR + 4.000% 9.217% 1/23/27 (b)(c)(d) | 683,850 | 671,883 | |
CME Term SOFR 1 Month Index + 4.000% 9.147% 2/15/29 (b)(c)(d) | 158,400 | 154,440 | |
| Tranche B 2LN, term loan 1 month U.S. LIBOR + 8.750% 13.967% 1/31/28 (b)(c)(d) | 200,000 | 180,500 | |
| Neptune BidCo U.S., Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 5.000% 10.0044% 4/11/29 (b)(c)(d) | 1,230,000 | 1,079,940 | |
| Optiv Security, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 5.250% 10.3384% 8/14/26 (b)(c)(d) | 190,000 | 180,580 | |
| PowerTeam Services LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.500% 8.8419% 3/6/25 (b)(c)(d) | 328,300 | 286,278 | |
| Sabert Corp. Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.500% 9.717% 12/10/26 (b)(c)(d) | 452,760 | 451,628 | |
| Sedgwick Claims Management Services, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.750% 8.8525% 2/24/28 (b)(c)(d) | 134,663 | 133,716 | |
| Sitel Worldwide Corp. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.95% 8/27/28 (b)(c)(d) | 139,645 | 136,269 | |
| Spin Holdco, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.000% 9.2303% 3/4/28 (b)(c)(d) | 1,725,587 | 1,472,909 | |
| The GEO Group, Inc. Tranche 1B 1LN, term loan CME Term SOFR 1 Month Index + 7.120% 12.2275% 3/23/27 (b)(c)(d) | 251,244 | 254,699 | |
| Uber Technologies, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.000% 8.02% 3/3/30 (b)(c)(d) | 824,855 | 824,195 | |
| Vaco Holdings LLC 1LN, term loan CME Term SOFR 1 Month Index + 5.000% 10.5867% 1/21/29 (b)(c)(d) | 77,241 | 70,338 | |
| WMB Holdings, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.250% 8.4525% 11/3/29 (b)(c)(d) | 205,325 | 205,530 | |
TOTAL SERVICES | 22,552,443 | ||
| Specialty Retailing - 0.1% | |||
| New SK Holdco Sub LLC 1LN, term loan CME Term SOFR 1 Month Index + 8.350% 13.4271% 6/30/27 (b)(c)(d) | 348,073 | 301,083 | |
| Steel - 0.2% | |||
| JMC Steel Group, Inc. 1LN, term loan 1 month U.S. LIBOR + 2.000% 7.197% 1/24/27 (b)(c)(d) | 478,875 | 474,886 | |
| Super Retail - 3.8% | |||
| Academy Ltd. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.943% 11/6/27 (b)(c)(d) | 301,953 | 302,331 | |
| At Home Group, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.250% 9.4266% 7/24/28 (b)(c)(d) | 251,175 | 157,690 | |
| Bass Pro Group LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.943% 3/5/28 (b)(c)(d) | 5,940,309 | 5,888,318 | |
| BJ's Wholesale Club, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.750% 7.8907% 2/3/27 (b)(c)(d) | 210,000 | 210,029 | |
| Empire Today LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 5.000% 10.1463% 4/1/28 (b)(c)(d) | 275,088 | 217,493 | |
| Hanesbrands, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.750% 8.8525% 3/8/30 (b)(c)(d) | 159,600 | 159,999 | |
| Harbor Freight Tools U.S.A., Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 2.750% 7.967% 10/19/27 (b)(c)(d) | 213,789 | 210,612 | |
| Michaels Companies, Inc. 1LN, term loan 3 month U.S. LIBOR + 4.250% 9.7535% 4/15/28 (b)(c)(d) | 451,516 | 398,802 | |
| Red Ventures LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.000% 8.1025% 3/3/30 (b)(c)(d) | 307,715 | 304,912 | |
| RH Tranche B2 1LN, term loan CME Term SOFR 1 Month Index + 3.250% 8.4525% 10/20/28 (b)(c)(d) | 446,625 | 430,435 | |
TOTAL SUPER RETAIL | 8,280,621 | ||
| Technology - 15.6% | |||
| A&V Holdings Midco LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 5.370% 10.2611% 3/10/27 (b)(c)(d) | 258,041 | 252,880 | |
| Acuris Finance U.S., Inc. 1LN, term loan CME Term SOFR 3 Month Index + 4.000% 9.3919% 2/16/28 (b)(c)(d) | 240,365 | 237,016 | |
| AI Aqua Merger Sub, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.750% 8.8964% 7/30/28 (b)(c)(d) | 445,557 | 436,869 | |
| Alliance Laundry Systems LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.500% 8.5587% 10/8/27 (b)(c)(d) | 211,441 | 210,648 | |
| Anastasia Parent LLC Tranche B, term loan 3 month U.S. LIBOR + 3.750% 9.2535% 8/10/25 (b)(c)(d) | 789,304 | 603,052 | |
| Applied Systems, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.500% 9.7419% 9/19/26 (b)(c)(d) | 418,950 | 419,344 | |
| Aptean, Inc. 1LN, term loan 3 month U.S. LIBOR + 4.250% 9.4525% 4/23/26 (b)(c)(d) | 356,319 | 349,104 | |
| Arches Buyer, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.4525% 12/4/27 (b)(c)(d) | 168,743 | 162,573 | |
| Athenahealth Group, Inc.: | |||
| Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.500% 8.5892% 2/15/29 (b)(c)(d) | 1,394,370 | 1,340,338 | |
| Tranche DD 1LN, term loan CME Term SOFR 1 Month Index + 3.500% 2/15/29 (c)(d)(g) | 171,295 | 164,657 | |
| AZZ, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.250% 9.4525% 5/13/29 (b)(c)(d) | 324,925 | 324,824 | |
| Byju's Alpha, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 8.000% 15.25% 11/24/26 (b)(c)(d) | 399,098 | 248,770 | |
| Camelot Finance SA: | |||
| Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.000% 8.217% 10/31/26 (b)(c)(d) | 418,043 | 417,173 | |
| Tranche B, term loan 1 month U.S. LIBOR + 3.000% 8.217% 10/31/26 (b)(c)(d) | 488,544 | 487,567 | |
| Central Parent, Inc. 1LN, term loan CME Term SOFR 3 Month Index + 4.250% 9.4919% 7/6/29 (b)(c)(d) | 546,115 | 544,226 | |
| Cloud Software Group, Inc. Tranche B 1LN, term loan CME Term SOFR 3 Month Index + 4.500% 9.8419% 3/30/29 (b)(c)(d) | 743,138 | 693,905 | |
| Coherent Corp. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.750% 7.967% 7/1/29 (b)(c)(d) | 627,906 | 625,552 | |
| CommScope, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.467% 4/4/26 (b)(c)(d) | 876,306 | 837,748 | |
| ConnectWise LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.500% 8.693% 9/30/28 (b)(c)(d) | 509,734 | 495,401 | |
| Constant Contact, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.000% 9.1979% 2/10/28 (b)(c)(d) | 179,640 | 170,996 | |
| DCert Buyer, Inc.: | |||
| 1LN, term loan CME Term SOFR 1 Month Index + 4.000% 9.2637% 10/16/26 (b)(c)(d) | 902,385 | 893,081 | |
| Tranche B 2LN, term loan 1 month U.S. LIBOR + 7.000% 12.2637% 2/19/29 (b)(c)(d) | 305,000 | 278,059 | |
| DG Investment Intermediate Holdings, Inc.: | |||
| 2LN, term loan 1 month U.S. LIBOR + 6.750% 11.967% 3/31/29 (b)(c)(d) | 95,000 | 83,798 | |
| Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.967% 3/31/28 (b)(c)(d) | 406,713 | 398,478 | |
| Entegris, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.750% 7.95% 7/6/29 (b)(c)(d) | 686,517 | 686,949 | |
| Eos U.S. Finco LLC 1LN, term loan CME Term SOFR 3 Month Index + 6.000% 10.9086% 10/6/29 (b)(c)(d) | 223,594 | 221,543 | |
| Gen Digital, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.000% 7.2025% 9/12/29 (b)(c)(d) | 1,068,352 | 1,062,348 | |
| Go Daddy Operating Co. LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.000% 7.1537% 8/10/27 (b)(c)(d) | 363,750 | 363,048 | |
| GoDaddy, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.250% 8.1025% 11/9/29 (b)(c)(d) | 282,909 | 283,291 | |
| Icon Luxembourg Sarl Tranche B 1LN, term loan CME Term SOFR 3 Month Index + 2.250% 7.7535% 7/3/28 (b)(c)(d) | 1,106,308 | 1,105,678 | |
| Imprivata, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.967% 12/1/27 (b)(c)(d) | 459,425 | 449,433 | |
| McAfee Corp. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.750% 9.0103% 3/1/29 (b)(c)(d) | 584,377 | 557,834 | |
| MH Sub I LLC: | |||
| Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.250% 9.3525% 4/25/28 (b)(c)(d) | 1,561,508 | 1,495,925 | |
| Tranche B 2LN, term loan CME Term SOFR 1 Month Index + 6.250% 11.3525% 2/23/29 (b)(c)(d) | 250,000 | 216,720 | |
| MKS Instruments, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.750% 7.9392% 8/17/29 (b)(c)(d) | 674,900 | 674,900 | |
| NAVEX TopCo, Inc.: | |||
| 2LN, term loan 1 month U.S. LIBOR + 7.000% 12.2534% 9/4/26 (b)(c)(d) | 85,000 | 83,300 | |
| Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.4525% 9/5/25 (b)(c)(d) | 328,612 | 327,627 | |
| Open Text Corp. 1LN, term loan CME Term SOFR 1 Month Index + 3.500% 8.7025% 1/31/30 (b)(c)(d) | 840,973 | 844,480 | |
| Park Place Technologies LLC 1LN, term loan CME Term SOFR 1 Month Index + 5.000% 10.2025% 11/10/27 (b)(c)(d) | 424,384 | 411,521 | |
| Peraton Corp. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.750% 8.9525% 2/1/28 (b)(c)(d) | 1,917,856 | 1,880,535 | |
| Polaris Newco LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.000% 9.5379% 6/2/28 (b)(c)(d) | 1,354,064 | 1,243,477 | |
| Project Boost Purchaser LLC 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.717% 5/30/26 (b)(c)(d) | 360,938 | 356,022 | |
| Proofpoint, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.250% 8.467% 8/31/28 (b)(c)(d) | 750,775 | 733,883 | |
| Rackspace Technology Global, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 2.750% 7.9957% 2/15/28 (b)(c)(d) | 1,156,768 | 524,039 | |
| RealPage, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.000% 8.217% 4/22/28 (b)(c)(d) | 734,463 | 717,754 | |
| Red Planet Borrower LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.9525% 9/30/28 (b)(c)(d) | 373,004 | 313,324 | |
| Renaissance Holdings Corp. 1LN, term loan CME Term SOFR 1 Month Index + 4.750% 9.9919% 4/7/30 (b)(c)(d) | 665,000 | 655,856 | |
| Roper Industrial Products Investment Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.500% 9.7419% 11/22/29 (b)(c)(d) | 159,600 | 158,802 | |
| Sophia LP Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.500% 9.0379% 10/7/27 (b)(c)(d) | 644,246 | 636,599 | |
| Sovos Compliance LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.500% 9.717% 8/11/28 (b)(c)(d) | 65,861 | 63,415 | |
| SS&C Technologies, Inc.: | |||
| Tranche B 3LN, term loan 1 month U.S. LIBOR + 1.750% 6.967% 4/16/25 (b)(c)(d) | 280,572 | 280,247 | |
| Tranche B 4LN, term loan 1 month U.S. LIBOR + 1.750% 6.967% 4/16/25 (b)(c)(d) | 250,586 | 250,295 | |
| Tranche B 5LN, term loan 1 month U.S. LIBOR + 1.750% 6.967% 4/16/25 (b)(c)(d) | 511,119 | 510,394 | |
| STG-Fairway Holdings LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 2.750% 7.967% 1/31/27 (b)(c)(d) | 224,114 | 223,485 | |
| Tempo Acquisition LLC 1LN, term loan U.S. Secured Overnight Fin. Rate (SOFR) Index + 3.000% 8.1025% 8/31/28 (b)(c)(d) | 631,301 | 631,301 | |
| TTM Technologies, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.750% 7.8858% 5/30/30 (b)(c)(d) | 141,247 | 140,894 | |
| UKG, Inc. 1LN, term loan CME Term SOFR 3 Month Index + 3.750% 8.8954% 5/4/26 (b)(c)(d) | 1,011,736 | 996,944 | |
| Ultimate Software Group, Inc.: | |||
| 1LN, term loan: | |||
1 month U.S. LIBOR + 3.250% 8.2706% 5/3/26 (b)(c)(d) | 582,510 | 571,041 | |
CME Term SOFR 1 Month Index + 4.500% 9.8767% 5/4/26 (b)(c)(d) | 205,000 | 204,317 | |
| 2LN, term loan CME Term SOFR 3 Month Index + 5.250% 10.2706% 5/3/27 (b)(c)(d) | 730,000 | 706,012 | |
| Veritas U.S., Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 5.000% 10.217% 9/1/25 (b)(c)(d) | 467,895 | 380,529 | |
| Verscend Holding Corp. Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.000% 9.217% 8/27/25 (b)(c)(d) | 510,266 | 509,521 | |
| VFH Parent LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.000% 8.1892% 1/13/29 (b)(c)(d) | 594,000 | 590,846 | |
| Virgin Pulse, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.000% 8.967% 4/6/28 (b)(c)(d) | 275,100 | 259,540 | |
| VM Consolidated, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.250% 8.467% 3/27/28 (b)(c)(d) | 331,644 | 331,644 | |
| VS Buyer LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.000% 8.5242% 2/28/27 (b)(c)(d) | 512,775 | 505,083 | |
| Weber-Stephen Products LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.467% 10/30/27 (b)(c)(d) | 335,546 | 293,841 | |
| Zelis Payments Buyer, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.693% 9/30/26 (b)(c)(d) | 230,094 | 229,747 | |
TOTAL TECHNOLOGY | 34,360,043 | ||
| Telecommunications - 4.8% | |||
| Altice Financing SA Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 5.000% 9.9863% 10/31/27 (b)(c)(d) | 473,813 | 457,229 | |
| Altice France SA Tranche B14 1LN, term loan CME Term SOFR 1 Month Index + 5.500% 10.4863% 8/15/28 (b)(c)(d) | 981,026 | 869,847 | |
| Aventiv Technologies LLC Tranche B, term loan: | |||
| 3 month U.S. LIBOR + 4.500% 10.0379% 11/1/24 (b)(c)(d) | 709,784 | 631,509 | |
| 3 month U.S. LIBOR + 8.250% 13.981% 11/1/25 (b)(c)(d) | 1,100,000 | 849,750 | |
| Cablevision Lightpath LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.4433% 11/30/27 (b)(c)(d) | 208,680 | 200,529 | |
| Connect U.S. Finco LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.7% 12/12/26 (b)(c)(d) | 270,728 | 270,306 | |
| Consolidated Communications, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.500% 8.717% 10/2/27 (b)(c)(d) | 264,182 | 232,575 | |
| Crown Subsea Communications Holding, Inc.: | |||
| 1LN, term loan CME Term SOFR 1 Month Index + 5.250% 10.5247% 4/27/27 (b)(c)(d) | 210,000 | 209,870 | |
| Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 5.000% 10.2747% 4/27/27 (b)(c)(d) | 212,363 | 211,921 | |
| Frontier Communications Holdings LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.750% 9% 5/1/28 (b)(c)(d) | 1,278,900 | 1,235,558 | |
| GTT Communications, Inc. 1LN, term loan CME Term SOFR 3 Month Index + 9.000% 14.3419% 6/30/28 (b)(c)(d) | 127,440 | 70,942 | |
| Gtt Remainco LLC 1LN, term loan CME Term SOFR 1 Month Index + 7.000% 12.2025% 12/30/27 (b)(c)(d) | 161,549 | 134,085 | |
| Intelsat Jackson Holdings SA 1LN, term loan CME TERM SOFR 6 MONTH INDEX + 4.250% 9.4435% 2/1/29 (b)(c)(d) | 2,117,929 | 2,107,339 | |
| Level 3 Financing, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 1.750% 6.967% 3/1/27 (b)(c)(d) | 129,918 | 120,743 | |
| Northwest Fiber LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.750% 8.9416% 4/30/27 (b)(c)(d) | 689,382 | 673,443 | |
| Patagonia Holdco LLC Tranche B 1LN, term loan CME Term SOFR 3 Month Index + 5.750% 10.7887% 8/1/29 (b)(c)(d) | 434,515 | 367,526 | |
| Radiate Holdco LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.467% 9/25/26 (b)(c)(d) | 435,979 | 362,590 | |
| Windstream Services LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 6.250% 11.4525% 9/21/27 (b)(c)(d) | 86,265 | 80,281 | |
| Zayo Group Holdings, Inc. 1LN, term loan 1 month U.S. LIBOR + 3.000% 8.217% 3/9/27 (b)(c)(d) | 1,763,763 | 1,380,445 | |
TOTAL TELECOMMUNICATIONS | 10,466,488 | ||
| Textiles/Apparel - 0.6% | |||
| Crocs, Inc. Tranche B1 LN, term loan CME Term SOFR 1 Month Index + 3.500% 8.86% 2/17/29 (b)(c)(d) | 795,031 | 796,208 | |
| Jo-Ann Stores LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.750% 10.0181% 7/7/28 (b)(c)(d) | 296,231 | 150,583 | |
| Tory Burch LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.717% 4/16/28 (b)(c)(d) | 431,200 | 414,560 | |
TOTAL TEXTILES/APPAREL | 1,361,351 | ||
| Utilities - 2.5% | |||
| Brookfield WEC Holdings, Inc.: | |||
| 1LN, term loan CME Term SOFR 1 Month Index + 3.750% 8.8525% 8/1/25 (b)(c)(d) | 183,613 | 183,567 | |
| Tranche B 1LN, term loan 1 month U.S. LIBOR + 2.750% 7.943% 8/1/25 (b)(c)(d) | 1,215,981 | 1,212,601 | |
| Limetree Bay Terminals LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.000% 10.5035% 2/15/24 (b)(c)(d) | 879,627 | 748,413 | |
| Luxembourg Investment Co. 428 SARL Tranche B 1LN, term loan CME Term SOFR 3 Month Index + 5.000% 10.3919% 1/3/29 (b)(c)(d) | 200,343 | 145,750 | |
| PG&E Corp. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.000% 8.217% 6/23/25 (b)(c)(d) | 1,051,803 | 1,049,363 | |
| Pike Corp. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.000% 8.217% 1/21/28 (b)(c)(d) | 359,589 | 357,723 | |
| Vertiv Group Corp. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.750% 7.943% 3/2/27 (b)(c)(d) | 847,766 | 843,790 | |
| Vistra Operations Co. LLC Tranche B 3LN, term loan 1 month U.S. LIBOR + 1.750% 6.93% 12/31/25 (b)(c)(d) | 836,047 | 833,748 | |
TOTAL UTILITIES | 5,374,955 | ||
| TOTAL BANK LOAN OBLIGATIONS (Cost $197,416,469) | 189,592,686 | ||
| Nonconvertible Bonds - 5.4% | |||
Principal Amount (a) | Value ($) | ||
| Aerospace - 0.2% | |||
| TransDigm, Inc. 6.25% 3/15/26 (h) | 500,000 | 497,556 | |
| Air Transportation - 0.1% | |||
| American Airlines, Inc. / AAdvantage Loyalty IP Ltd. 5.5% 4/20/26 (h) | 165,000 | 163,464 | |
| Delta Air Lines, Inc. / SkyMiles IP Ltd. 4.5% 10/20/25 (h) | 95,833 | 93,743 | |
TOTAL AIR TRANSPORTATION | 257,207 | ||
| Automotive & Auto Parts - 0.7% | |||
| Clarios Global LP / Clarios U.S. Finance Co. 6.75% 5/15/28 (h) | 150,000 | 149,475 | |
| Rivian Holdco & Rivian LLC & Rivian Automotive LLC 6 month U.S. LIBOR + 5.620% 10.9311% 10/15/26 (b)(c)(h) | 1,295,000 | 1,255,316 | |
TOTAL AUTOMOTIVE & AUTO PARTS | 1,404,791 | ||
| Broadcasting - 0.2% | |||
| DISH Network Corp. 11.75% 11/15/27 (h) | 350,000 | 341,569 | |
| Univision Communications, Inc. 6.625% 6/1/27 (h) | 170,000 | 164,313 | |
TOTAL BROADCASTING | 505,882 | ||
| Cable/Satellite TV - 0.2% | |||
| CCO Holdings LLC/CCO Holdings Capital Corp.: | |||
| 5% 2/1/28 (h) | 140,000 | 127,553 | |
| 5.375% 6/1/29 (h) | 285,000 | 257,667 | |
| Radiate Holdco LLC/Radiate Financial Service Ltd. 4.5% 9/15/26 (h) | 167,000 | 133,143 | |
TOTAL CABLE/SATELLITE TV | 518,363 | ||
| Capital Goods - 0.0% | |||
| Chart Industries, Inc. 7.5% 1/1/30 (h) | 30,000 | 30,608 | |
| Chemicals - 0.1% | |||
| Kronos Acquisition Holdings, Inc. / KIK Custom Products, Inc. 5% 12/31/26 (h) | 5,000 | 4,575 | |
| Olympus Water U.S. Holding Corp. 9.75% 11/15/28 (h) | 200,000 | 195,060 | |
TOTAL CHEMICALS | 199,635 | ||
| Containers - 0.2% | |||
| Ardagh Packaging Finance PLC/Ardagh MP Holdings U.S.A., Inc. 4.125% 8/15/26 (h) | 415,000 | 386,528 | |
| Energy - 0.3% | |||
| Citgo Petroleum Corp.: | |||
| 6.375% 6/15/26 (h) | 35,000 | 33,688 | |
| 7% 6/15/25 (h) | 100,000 | 98,125 | |
| New Fortress Energy, Inc.: | |||
| 6.5% 9/30/26 (h) | 385,000 | 344,458 | |
| 6.75% 9/15/25 (h) | 75,000 | 70,353 | |
| Transocean Poseidon Ltd. 6.875% 2/1/27 (h) | 113,750 | 112,613 | |
TOTAL ENERGY | 659,237 | ||
| Gaming - 0.7% | |||
| Caesars Entertainment, Inc. 7% 2/15/30 (h) | 135,000 | 135,572 | |
| Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc. 4.625% 1/15/29 (h) | 875,000 | 767,813 | |
| Golden Entertainment, Inc. 7.625% 4/15/26 (h) | 250,000 | 251,068 | |
| Sugarhouse HSP Gaming Prop Mezz LP/Sugarhouse HSP Gaming Finance Corp. 5.875% 5/15/25 (h) | 300,000 | 289,500 | |
| VICI Properties LP / VICI Note Co.: | |||
| 3.5% 2/15/25 (h) | 35,000 | 33,443 | |
| 4.25% 12/1/26 (h) | 50,000 | 46,774 | |
TOTAL GAMING | 1,524,170 | ||
| Homebuilders/Real Estate - 0.2% | |||
| MPT Operating Partnership LP/MPT Finance Corp. 5% 10/15/27 | 210,000 | 176,677 | |
| Uniti Group LP / Uniti Group Finance, Inc. 10.5% 2/15/28 (h) | 335,000 | 332,341 | |
TOTAL HOMEBUILDERS/REAL ESTATE | 509,018 | ||
| Insurance - 0.1% | |||
| Alliant Holdings Intermediate LLC 6.75% 4/15/28 (h) | 295,000 | 292,563 | |
| Leisure - 0.2% | |||
| Carnival Corp. 7.625% 3/1/26 (h) | 80,000 | 78,352 | |
| Royal Caribbean Cruises Ltd.: | |||
| 8.25% 1/15/29 (h) | 145,000 | 152,243 | |
| 11.625% 8/15/27 (h) | 100,000 | 108,755 | |
TOTAL LEISURE | 339,350 | ||
| Paper - 0.1% | |||
| Ardagh Metal Packaging Finance U.S.A. LLC/Ardagh Metal Packaging Finance PLC 3.25% 9/1/28 (h) | 135,000 | 115,976 | |
| Services - 0.4% | |||
| Aramark Services, Inc. 6.375% 5/1/25 (h) | 90,000 | 89,917 | |
| Neptune BidCo U.S., Inc. 9.29% 4/15/29 (h) | 120,000 | 110,161 | |
| PowerTeam Services LLC 9.033% 12/4/25 (h) | 670,000 | 586,250 | |
TOTAL SERVICES | 786,328 | ||
| Super Retail - 0.2% | |||
| EG Global Finance PLC: | |||
| 6.75% 2/7/25 (h) | 125,000 | 121,406 | |
| 8.5% 10/30/25 (h) | 260,000 | 252,269 | |
TOTAL SUPER RETAIL | 373,675 | ||
| Technology - 0.1% | |||
| Cloud Software Group, Inc. 9% 9/30/29 (h) | 160,000 | 139,750 | |
| CommScope, Inc. 6% 3/1/26 (h) | 150,000 | 139,796 | |
TOTAL TECHNOLOGY | 279,546 | ||
| Telecommunications - 1.3% | |||
| Altice Financing SA 5.75% 8/15/29 (h) | 1,000,000 | 774,720 | |
| Altice France SA: | |||
| 5.125% 1/15/29 (h) | 80,000 | 57,027 | |
| 5.125% 7/15/29 (h) | 145,000 | 102,932 | |
| 5.5% 1/15/28 (h) | 1,000,000 | 755,278 | |
| Frontier Communications Holdings LLC 5% 5/1/28 (h) | 160,000 | 138,050 | |
| Intelsat Jackson Holdings SA 6.5% 3/15/30 (h) | 535,000 | 487,041 | |
| LCPR Senior Secured Financing DAC 6.75% 10/15/27 (h) | 220,000 | 206,136 | |
| Windstream Escrow LLC 7.75% 8/15/28 (h) | 500,000 | 414,953 | |
TOTAL TELECOMMUNICATIONS | 2,936,137 | ||
| Utilities - 0.1% | |||
| Exgen Texas Power LLC 3 month U.S. LIBOR + 6.750% 11.961% 10/8/26 (b)(c)(e) | 286,506 | 288,297 | |
| TOTAL NONCONVERTIBLE BONDS (Cost $12,897,844) | 11,904,867 | ||
| Common Stocks - 1.7% | |||
| Shares | Value ($) | ||
| Capital Goods - 0.1% | |||
| TNT Crane & Rigging LLC (e)(i) | 24,748 | 258,122 | |
| TNT Crane & Rigging LLC warrants 10/31/25 (e)(i) | 3,037 | 881 | |
TOTAL CAPITAL GOODS | 259,003 | ||
| Diversified Financial Services - 0.1% | |||
| ACNR Holdings, Inc. (e)(i) | 1,891 | 171,041 | |
| Carnelian Point Holdings LP warrants (e)(i) | 367 | 1,072 | |
| Lime Tree Bay Ltd. (e)(i) | 153 | 6,040 | |
TOTAL DIVERSIFIED FINANCIAL SERVICES | 178,153 | ||
| Energy - 1.0% | |||
| California Resources Corp. | 15,179 | 687,457 | |
| California Resources Corp. warrants 10/27/24 (i) | 920 | 10,911 | |
| Chesapeake Energy Corp. | 9,834 | 822,909 | |
| Chesapeake Energy Corp. (i)(j) | 137 | 11,464 | |
| Denbury, Inc. (i) | 7,505 | 647,381 | |
| EP Energy Corp. (e)(i) | 3,190 | 18,949 | |
TOTAL ENERGY | 2,199,071 | ||
| Entertainment/Film - 0.0% | |||
| Cineworld Group PLC warrants 11/23/25 (i) | 53,143 | 0 | |
| Restaurants - 0.1% | |||
| CEC Entertainment, Inc. (e)(i) | 15,069 | 264,160 | |
| Super Retail - 0.0% | |||
| David's Bridal, Inc. rights (e)(i) | 156 | 0 | |
| Telecommunications - 0.0% | |||
| GTT Communications, Inc. (e) | 3,248 | 40,114 | |
| Utilities - 0.4% | |||
| TexGen Power LLC (e)(i) | 25,327 | 853,520 | |
| TOTAL COMMON STOCKS (Cost $2,680,935) | 3,794,021 | ||
| Nonconvertible Preferred Stocks - 0.3% | |||
| Shares | Value ($) | ||
| Diversified Financial Services - 0.3% | |||
ACNR Holdings, Inc. (e)(i) (Cost $135,375) | 1,083 | 586,661 | |
| Preferred Securities - 0.7% | |||
Principal Amount (a) | Value ($) | ||
| Banks & Thrifts - 0.4% | |||
| Bank of America Corp. 6.25% (b)(k) | 295,000 | 291,313 | |
| JPMorgan Chase & Co.: | |||
| 6% (b)(k) | 130,000 | 130,094 | |
| 6.1% (b)(k) | 154,000 | 153,646 | |
| 6.75% (b)(k) | 171,000 | 171,445 | |
TOTAL BANKS & THRIFTS | 746,498 | ||
| Energy - 0.3% | |||
| Energy Transfer LP 3 month U.S. LIBOR + 4.020% 9.3487% (b)(c)(k) | 785,000 | 704,538 | |
| TOTAL PREFERRED SECURITIES (Cost $1,456,446) | 1,451,036 | ||
| Money Market Funds - 5.6% | |||
| Shares | Value ($) | ||
Fidelity Cash Central Fund 5.14% (l) (Cost $12,357,709) | 12,355,516 | 12,357,987 | |
| TOTAL INVESTMENT IN SECURITIES - 99.7% (Cost $226,944,778) | 219,687,258 |
NET OTHER ASSETS (LIABILITIES) - 0.3% | 660,805 |
| NET ASSETS - 100.0% | 220,348,063 |
Legend
| (a) | Amount is stated in United States dollars unless otherwise noted. |
| (b) | Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. |
| (c) | Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors. |
| (d) | Remaining maturities of bank loan obligations may be less than the stated maturities shown as a result of contractual or optional prepayments by the borrower. Such prepayments cannot be predicted with certainty. |
| (e) | Level 3 security |
| (f) | The coupon rate will be determined upon settlement of the loan after period end. |
| (g) | Position or a portion of the position represents an unfunded loan commitment. At period end, the total principal amount and market value of unfunded commitments totaled $373,764 and $366,317, respectively. |
| (h) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $11,439,893 or 5.2% of net assets. |
| (i) | Non-income producing |
| (j) | Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $11,464 or 0.0% of net assets. |
| (k) | Security is perpetual in nature with no stated maturity date. |
| (l) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
| Additional information on each restricted holding is as follows: | ||
| Security | Acquisition Date | Acquisition Cost ($) |
| Chesapeake Energy Corp. | 2/10/21 | 1,297 |
Affiliated Central Funds
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
| Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
| Fidelity Cash Central Fund 5.14% | 12,086,932 | 48,014,859 | 47,743,804 | 444,270 | - | - | 12,357,987 | 0.0% |
| Fidelity Securities Lending Cash Central Fund 5.14% | 9,575 | 2,320,902 | 2,330,477 | 85 | - | - | - | 0.0% |
| Total | 12,096,507 | 50,335,761 | 50,074,281 | 444,355 | - | - | 12,357,987 | |
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
Level 1 - Unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
Valuation techniques used to value investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
Securities, including private placements or other restricted securities, for which observable inputs are not available are valued using alternate valuation approaches, including the market approach, the income approach and cost approach, and are categorized as Level 3 in the hierarchy. The market approach considers factors including the price of recent investments in the same or a similar security or financial metrics of comparable securities. The income approach considers factors including expected future cash flows, security specific risks and corresponding discount rates. The cost approach considers factors including the value of the security's underlying assets and liabilities.
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. Bank Loan Obligations, Nonconvertible Bonds and Preferred Securities are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
The Fund invests a significant portion of its assets in below investment grade securities. The value of these securities can be more volatile due to changes in the credit quality of the issuer and is sensitive to changes in economic, market and regulatory conditions.
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
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