Lord Abbett
Quarterly Portfolio Holdings Report
Lord Abbett
Bond-Debenture Fund
For the period ended March 31, 2024
Schedule of Investments (unaudited)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
LONG-TERM INVESTMENTS 109.79% | ||||||||||||
ASSET-BACKED SECURITIES 6.10% | ||||||||||||
Automobiles 1.33% | ||||||||||||
Carvana Auto Receivables Trust Series NP1 2020-N1A Class E† | 5.20% | 7/15/2027 | $ | 5,750,000 | $ | 5,633,883 | ||||||
Credit Acceptance Auto Loan Trust Series 2023-3A Class A† | 6.39% | 8/15/2033 | 18,635,000 | 18,909,786 | ||||||||
Exeter Automobile Receivables Trust Series 2023-5A Class B | 6.58% | 4/17/2028 | 34,855,000 | 35,346,543 | ||||||||
Flagship Credit Auto Trust Series 2023-1 Class B† | 5.05% | 1/18/2028 | 8,575,000 | 8,491,746 | ||||||||
Flagship Credit Auto Trust Series 2023-1 Class C† | 5.43% | 5/15/2029 | 9,487,000 | 9,411,084 | ||||||||
Ford Credit Auto Lease Trust Series 2023-A Class B | 5.29% | 6/15/2026 | 22,610,000 | 22,521,658 | ||||||||
Ford Credit Auto Lease Trust Series 2023-A Class C | 5.54% | 12/15/2026 | 26,790,000 | 26,650,087 | ||||||||
Santander Drive Auto Receivables Trust Series 2023-1 Class C | 5.09% | 5/15/2030 | 33,530,000 | 33,173,901 | ||||||||
Santander Drive Auto Receivables Trust Series 2023-3 Class C | 5.77% | 11/15/2030 | 37,765,000 | 38,085,557 | ||||||||
Westlake Automobile Receivables Trust Series 2021-1A Class F† | 3.91% | 9/15/2027 | 58,047,000 | 56,691,417 | ||||||||
Westlake Automobile Receivables Trust Series 2024-1 Class D† | 6.02% | 10/15/2029 | 24,860,000 | 24,952,385 | ||||||||
Total | 279,868,047 | |||||||||||
Credit Card 0.11% | ||||||||||||
Genesis Sales Finance Master Trust Series 2021-AA Class A† | 1.20% | 12/21/2026 | 24,892,000 | 24,050,317 | ||||||||
Home Equity 0.13% | ||||||||||||
Towd Point Mortgage Trust Series 2024-CES1 Class A1A† | 5.848% | #(a) | 1/25/2064 | 27,085,958 | 27,115,769 | |||||||
Other 4.50% | ||||||||||||
Affirm Asset Securitization Trust Series 2023-A Class 1A† | 6.61% | 1/18/2028 | 62,405,000 | 62,800,398 | ||||||||
Affirm Asset Securitization Trust Series 2023-B Class A† | 6.82% | 9/15/2028 | 32,960,000 | 33,471,134 | ||||||||
Affirm Asset Securitization Trust Series 2024-A Class A† | 5.61% | 2/15/2029 | 15,815,000 | 15,789,082 |
See Notes to Schedule of Investments. | 1 |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Other (continued) | ||||||||||||
AGL CLO 28 Ltd. Series 2023-28A Class D† | 10.153% (3 mo. USD Term SOFR + 4.85%) | # | 1/21/2037 | $ | 15,220,000 | $ | 15,322,906 | |||||
Anchorage Capital CLO 28 Ltd. Series 2024-28A Class C† | 7.985% (3 mo. USD Term SOFR + 2.70%) | # | 4/20/2037 | 14,500,000 | 14,496,984 | |||||||
Arbor Realty Commercial Real Estate Notes Ltd. Series 2021-FL2 Class A† | 6.54% (1 mo. USD Term SOFR + 1.21%) | # | 5/15/2036 | 10,029,313 | 10,005,818 | |||||||
Arbor Realty Commercial Real Estate Notes Ltd. Series 2022-FL2 Class A† | 7.175% (1 mo. USD Term SOFR + 1.85%) | # | 5/15/2037 | 28,620,000 | 28,620,146 | |||||||
Avant Loans Funding Trust Series 2021-REV1 Class A† | 1.21% | 7/15/2030 | 799,192 | 798,157 | ||||||||
Ballyrock CLO 20 Ltd. Series 2022-20A Class BR† | 7.914% (3 mo. USD Term SOFR + 2.60%) | # | 7/15/2034 | 9,050,000 | 9,063,521 | |||||||
Ballyrock CLO 25 Ltd. Series 2023-25A Class C† | 10.024% (3 mo. USD Term SOFR + 4.70%) | # | 1/25/2036 | 9,980,000 | 10,102,708 | |||||||
Ballyrock CLO Ltd. Series 2019-1A Class A1R† | 6.606% (3 mo. USD Term SOFR + 1.29%) | # | 7/15/2032 | 9,300,000 | 9,316,049 | |||||||
Carlyle U.S. CLO Ltd. Series 2023-4A Class C† | 8.174% (3 mo. USD Term SOFR + 2.80%) | # | 10/25/2036 | 9,510,000 | 9,562,000 | |||||||
Carlyle U.S. CLO Ltd. Series 2023-5A Class D† | 10.423% (3 mo. USD Term SOFR + 5.10%) | # | 1/27/2036 | 9,980,000 | 10,081,708 | |||||||
Carlyle U.S. CLO Ltd. Series 2024-1A Class C† | 7.744% (3 mo. USD Term SOFR + 2.45%) | # | 4/15/2037 | 14,490,000 | 14,485,362 | |||||||
CIFC Funding Ltd. Series 2023-3A Class A† | 6.916% (3 mo. USD Term SOFR + 1.60%) | # | 1/20/2037 | 46,830,000 | 46,949,875 | |||||||
CIFC Funding Ltd. Series 2023-3A Class D† | 9.566% (3 mo. USD Term SOFR + 4.25%) | # | 1/20/2037 | 14,490,000 | 14,596,813 | |||||||
CIFC Funding Ltd. Series 2024-2A Class C†(b) | 6.29% (3 mo. USD Term SOFR + 2.40%) | # | 4/22/2037 | 14,010,000 | 14,047,547 |
2 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Other (continued) | ||||||||||||
Dryden 113 CLO Ltd. Series 2022-113A Class CR† | 8.116% (3 mo. USD Term SOFR + 2.70%) | # | 10/20/2035 | $ | 10,710,000 | $ | 10,724,846 | |||||
Dryden 115 CLO Ltd. Series 2024-115A Class D† | 9.101% (3 mo. USD Term SOFR + 3.80%) | # | 4/18/2037 | 10,000,000 | 10,000,000 | |||||||
Elmwood CLO 23 Ltd. Series 2023-2A Class A† | 7.114% (3 mo. USD Term SOFR + 1.80%) | # | 4/16/2036 | 40,000,000 | 40,127,729 | |||||||
Elmwood CLO 27 Ltd. Series 2024-3A Class B†(b) | 11.00% (3 mo. USD Term SOFR + 1.95%) | # | 4/18/2037 | 23,500,000 | 23,533,581 | |||||||
Elmwood CLO VII Ltd. Series 2020-4A Class CR† | 8.017% (3 mo. USD Term SOFR + 2.70%) | # | 1/17/2034 | 9,120,000 | 9,182,353 | |||||||
Flatiron CLO 18 Ltd. Series 2018-1A Class A† | 6.528% (3 mo. USD Term SOFR + 1.21%) | # | 4/17/2031 | 17,254,543 | 17,244,381 | |||||||
Generate CLO 14 Ltd. Series 2024-14A Class B† | 7.425% (3 mo. USD Term SOFR + 2.10%) | # | 4/22/2037 | 26,000,000 | 25,998,494 | |||||||
GoldenTree Loan Management U.S. CLO Ltd. Series 2022-16A Class DR† | 10.107% (3 mo. USD Term SOFR + 4.75%) | # | 1/20/2034 | 13,780,000 | 13,825,925 | |||||||
Gracie Point International Funding Series 2023-1A Class A† | 7.308% (90 day USD SOFR Average + 1.95%) | # | 9/1/2026 | 38,150,541 | 38,450,640 | |||||||
Halcyon Loan Advisors Funding Ltd. Series 2017-2A Class A2† | 7.278% (3 mo. USD Term SOFR + 1.96%) | # | 1/17/2030 | 9,070,145 | 9,102,532 | |||||||
Hardee’s Funding LLC Series 2018-1A Class A2II† | 4.959% | 6/20/2048 | 18,076,938 | 17,941,343 | (c) | |||||||
Hardee’s Funding LLC Series 2024-1A Class A2†(b) | 7.253% | 3/20/2054 | 6,545,000 | 6,622,072 | ||||||||
Invesco U.S. CLO Ltd. Series 2023-4A Class D† | 10.61% (3 mo. USD Term SOFR + 5.25%) | # | 1/18/2037 | 13,070,000 | 13,154,486 | |||||||
Madison Park Funding Ltd. Series 2024-58A Class B†(b) | 5.85% (3 mo. USD Term SOFR + 1.95%) | # | 4/25/2037 | 11,500,000 | 11,514,375 | (c) |
See Notes to Schedule of Investments. | 3 |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Other (continued) | ||||||||||||
Madison Park Funding XIII Ltd. Series 2014-13A Class AR2† | 6.521% (3 mo. USD Term SOFR + 1.21%) | # | 4/19/2030 | $ | 9,326,517 | $ | 9,328,409 | |||||
Madison Park Funding XXIX Ltd. Series 2018-29A Class BR†(b) | 7.109% (3 mo. USD Term SOFR + 1.80%) | # | 10/18/2030 | 31,610,000 | 31,655,171 | |||||||
Magnetite XXXIX Ltd. Series 2023-39A Class C† | 7.935% (3 mo. USD Term SOFR + 2.55%) | # | 10/25/2033 | 18,320,000 | 18,430,731 | |||||||
MF1 LLC Series 2022-FL9 Class A† | 7.476% (1 mo. USD Term SOFR + 2.15%) | # | 6/19/2037 | 53,135,000 | 53,198,621 | |||||||
MF1 LLC Series 2024-FL14 Class A† | 7.063% (1 mo. USD Term SOFR + 1.74%) | # | 3/19/2039 | 47,000,000 | 47,102,930 | |||||||
Oaktree CLO Ltd. Series 2022-2a Class DR† | 9.814% (3 mo. USD Term SOFR + 4.50%) | # | 7/15/2033 | 7,130,000 | 7,167,952 | |||||||
OCP CLO Ltd. Series 2016-12A Class AR2† | 6.568% (3 mo. USD Term SOFR + 1.27%) | # | 4/18/2033 | 20,000,000 | 20,031,411 | |||||||
OCP CLO Ltd. Series 2024-31A Class D† | 9.243% (3 mo. USD Term SOFR + 3.95%) | # | 4/20/2037 | 17,260,000 | 17,401,045 | |||||||
OHA Credit Funding 16 Ltd. Series 2023-16A Class C† | 8.006% (3 mo. USD Term SOFR + 2.65%) | # | 10/20/2036 | 25,450,000 | 25,612,542 | |||||||
Palmer Square CLO Ltd. Series 2023-4A Class C† | 8.013% (3 mo. USD Term SOFR + 2.60%) | # | 10/20/2033 | 15,940,000 | 16,017,257 | |||||||
SEB Funding LLC Series 2021-1A Class A2† | 4.969% | 1/30/2052 | 30,804,795 | 29,101,641 | ||||||||
Sixth Street CLO XXIII Ltd. Series 2023-23A Class C† | 8.072% (3 mo. USD Term SOFR + 2.70%) | # | 10/23/2036 | 9,510,000 | 9,562,126 | |||||||
Sixth Street CLO XXIV Ltd. Series 2024-24A Class B†(b) | 8.579% (3 mo. USD Term SOFR + 2.00%) | # | 4/23/2037 | 16,590,000 | 16,590,000 | |||||||
Sunrun Demeter Issuer LLC Series 2021-2A Class A† | 2.27% | 1/30/2057 | 25,905,997 | 21,190,220 | ||||||||
Texas Debt Capital CLO Ltd. Series 2024-1A Class C† | 7.679% (3 mo. USD Term SOFR + 2.35%) | # | 4/22/2037 | 8,790,000 | 8,789,310 |
4 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Other (continued) | ||||||||||||
TICP CLO VII Ltd. Series 2017-7A Class BR2† | 6.963% (3 mo. USD Term SOFR + 1.90%) | # | 4/15/2033 | $ | 19,000,000 | $ | 19,000,216 | |||||
Valley Stream Park CLO Ltd. Series 2022-1A Class CR† | 7.968% (3 mo. USD Term SOFR + 2.65%) | # | 10/20/2034 | 7,725,000 | 7,736,097 | |||||||
Voya CLO Ltd. Series 2014-1A Class AAR2† | 6.55% (3 mo. USD Term SOFR + 1.25%) | # | 4/18/2031 | 21,321,223 | 21,360,747 | |||||||
Total | 946,209,391 | |||||||||||
Rec Vehicle Loan 0.03% | ||||||||||||
Octane Receivables Trust Series 2022-2A Class A† | 5.11% | 2/22/2028 | 7,127,289 | 7,097,463 | ||||||||
Total Asset-Backed Securities (cost $1,286,699,008) | 1,284,340,987 | |||||||||||
Shares | ||||||||||||
COMMON STOCKS 7.58% | ||||||||||||
Aerospace & Defense 0.10% | ||||||||||||
Huntington Ingalls Industries, Inc. | 72,367 | 21,092,810 | ||||||||||
Automobile Components 0.04% | ||||||||||||
Chassix Holdings, Inc. | 1,771,844 | 7,530,339 | ||||||||||
Banks 0.21% | ||||||||||||
First Citizens BancShares, Inc. Class A | 27,539 | 45,026,265 | ||||||||||
Beverages 0.12% | ||||||||||||
Celsius Holdings, Inc.* | 307,578 | 25,504,368 | ||||||||||
Biotechnology 0.10% | ||||||||||||
Natera, Inc.* | 232,111 | 21,228,872 | ||||||||||
Broadline Retail 0.16% | ||||||||||||
Amazon.com, Inc.* | 184,246 | 33,234,293 | ||||||||||
Building Products 0.10% | ||||||||||||
Trane Technologies PLC (Ireland)(d) | 69,298 | 20,803,260 | ||||||||||
Capital Markets 0.51% | ||||||||||||
ARES Management Corp. Class A | 158,914 | 21,132,384 | ||||||||||
Coinbase Global, Inc. Class A* | 164,236 | 43,542,248 | ||||||||||
Tradeweb Markets, Inc. Class A | 411,940 | 42,911,790 | ||||||||||
Total | 107,586,422 |
See Notes to Schedule of Investments. | 5 |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Shares | Fair Value | ||||||
Chemicals 0.10% | ||||||||
Sherwin-Williams Co. | 63,493 | $ | 22,053,024 | |||||
Commercial Services & Supplies 0.11% | ||||||||
Republic Services, Inc. | 118,554 | 22,695,978 | ||||||
Consumer Finance 0.10% | ||||||||
American Express Co. | 92,173 | 20,986,870 | ||||||
Consumer Staples Distribution & Retail 0.20% | ||||||||
Maplebear, Inc.* | 551,114 | 20,551,041 | ||||||
U.S. Foods Holding Corp.* | 399,727 | 21,573,266 | ||||||
Total | 42,124,307 | |||||||
Diversified Consumer Services 0.10% | ||||||||
Bright Horizons Family Solutions, Inc.* | 193,372 | 21,920,650 | ||||||
Electrical Equipment 0.20% | ||||||||
Eaton Corp. PLC | 66,779 | 20,880,458 | ||||||
Hubbell, Inc. | 50,789 | 21,079,974 | ||||||
Total | 41,960,432 | |||||||
Electric-Generation 0.00% | ||||||||
Frontera Generation Holdings LLC | 125,994 | 62,997 | ||||||
Energy Equipment & Services 0.11% | ||||||||
Weatherford International PLC* | 199,952 | 23,078,460 | ||||||
Entertainment 0.36% | ||||||||
Netflix, Inc.* | 37,200 | 22,592,676 | ||||||
Nintendo Co. Ltd.(e) | 369,500 | 20,161,624 | ||||||
Spotify Technology SA (Sweden)*(d) | 121,980 | 32,190,522 | ||||||
Total | 74,944,822 | |||||||
Financial Services 0.21% | ||||||||
Fiserv, Inc.* | 143,497 | 22,933,691 | ||||||
PayPal Holdings, Inc.* | 324,481 | 21,736,982 | ||||||
Total | 44,670,673 | |||||||
Food Products 0.10% | ||||||||
McCormick & Co., Inc. | 272,750 | 20,949,928 |
6 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Shares | Fair Value | ||||||
Ground Transportation 0.40% | ||||||||
Canadian Pacific Kansas City Ltd.(e) | 245,121 | $ | 21,612,197 | |||||
Old Dominion Freight Line, Inc. | 143,902 | 31,559,148 | ||||||
Uber Technologies, Inc.* | 396,349 | 30,514,909 | ||||||
Total | 83,686,254 | |||||||
Health Care Equipment & Supplies 0.42% | ||||||||
GE HealthCare Technologies, Inc. | 244,651 | 22,241,222 | ||||||
Glaukos Corp.* | 240,422 | 22,669,390 | ||||||
Intuitive Surgical, Inc.* | 108,074 | 43,131,253 | ||||||
Total | 88,041,865 | |||||||
Health Care Providers & Services 0.11% | ||||||||
Universal Health Services, Inc. Class B | 128,889 | 23,517,087 | ||||||
Hotels, Restaurants & Leisure 0.49% | ||||||||
Aristocrat Leisure Ltd.(e) | 711,174 | 19,913,524 | ||||||
Domino’s Pizza, Inc. | 54,590 | 27,124,679 | ||||||
DraftKings, Inc. Class A* | 754,628 | 34,267,658 | ||||||
Dutch Bros, Inc. Class A* | 658,381 | 21,726,573 | ||||||
Total | 103,032,434 | |||||||
Insurance 0.32% | ||||||||
Progressive Corp. | 220,270 | 45,556,241 | ||||||
Willis Towers Watson PLC (United Kingdom)(d) | 77,155 | 21,217,625 | ||||||
Total | 66,773,866 | |||||||
Interactive Media & Services 0.15% | ||||||||
Meta Platforms, Inc. Class A | 66,459 | 32,271,161 | ||||||
Life Sciences Tools & Services 0.10% | ||||||||
Danaher Corp. | 83,745 | 20,912,801 | ||||||
Machinery 0.20% | ||||||||
PACCAR, Inc. | 169,258 | 20,969,373 | ||||||
Xylem, Inc. | 169,349 | 21,886,665 | ||||||
Total | 42,856,038 | |||||||
Marine Transportation 0.10% | ||||||||
Kirby Corp.* | 225,731 | 21,516,679 | ||||||
Metals & Mining 0.23% | ||||||||
Southern Copper Corp. | 239,837 | 25,547,437 | ||||||
Teck Resources Ltd. Class B (Canada)(d) | 496,604 | 22,734,531 | ||||||
Total | 48,281,968 |
See Notes to Schedule of Investments. | 7 |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Shares | Fair Value | ||||||
Miscellaneous Financials 0.03% | ||||||||
Utex Industries | 113,840 | $ | 6,118,900 | (f) | ||||
Oil, Gas & Consumable Fuels 0.25% | ||||||||
Frontline PLC (Norway)(d) | 865,020 | 20,224,168 | ||||||
Imperial Oil Ltd.(e) | 467,447 | 32,242,127 | ||||||
Total | 52,466,295 | |||||||
Personal Care Products 0.04% | ||||||||
Gibson Brands Private Equity | 106,902 | 7,750,395 | ||||||
Professional Services 0.20% | ||||||||
Booz Allen Hamilton Holding Corp. | 142,930 | 21,216,529 | ||||||
Leidos Holdings, Inc. | 161,296 | 21,144,293 | ||||||
Total | 42,360,822 | |||||||
Real Estate Management & Development 0.11% | ||||||||
CoStar Group, Inc.* | 235,144 | 22,714,910 | ||||||
Semiconductors & Semiconductor Equipment 0.35% | ||||||||
Advanced Micro Devices, Inc.* | 116,766 | 21,075,095 | ||||||
Broadcom, Inc. | 16,218 | 21,495,500 | ||||||
KLA Corp. | 45,770 | 31,973,549 | ||||||
Total | 74,544,144 | |||||||
Software 0.17% | ||||||||
AppLovin Corp. Class A* | 503,346 | 34,841,610 | ||||||
Specialty Retail 0.28% | ||||||||
Claire’s Holdings LLC | 15,164 | 985,684 | ||||||
Floor & Decor Holdings, Inc. Class A* | 179,729 | 23,296,473 | ||||||
O’Reilly Automotive, Inc.* | 30,105 | 33,984,933 | ||||||
Total | 58,267,090 | |||||||
Textiles, Apparel & Luxury Goods 0.47% | ||||||||
Birkenstock Holding PLC (United Kingdom)*(d)(g) | 519,669 | 24,554,360 | ||||||
Deckers Outdoor Corp.* | 22,851 | 21,508,733 | ||||||
Hermes International SCA(e) | 12,420 | 31,742,790 | ||||||
Lululemon Athletica, Inc. (Canada)*(d) | 53,611 | 20,943,137 | ||||||
Total | 98,749,020 |
8 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Shares | Fair Value | ||||||||||
Trading Companies & Distributors 0.22% | ||||||||||||
SiteOne Landscape Supply, Inc.* | 117,567 | $ | 20,521,320 | |||||||||
United Rentals, Inc. | 36,475 | 26,302,487 | ||||||||||
Total | 46,823,807 | |||||||||||
Transportation Infrastructure 0.01% | ||||||||||||
ACBL Holdings Corp. | 44,897 | 1,975,468 | ||||||||||
Total Common Stocks (cost $1,431,066,137) | 1,594,957,384 | |||||||||||
Interest Rate | Maturity Date | Principal Amount‡ | ||||||||||
CORPORATE BONDS 69.28% | ||||||||||||
Advertising 0.19% | ||||||||||||
Clear Channel Outdoor Holdings, Inc.† | 7.75% | 4/15/2028 | $ | 7,359,000 | 6,450,973 | |||||||
Clear Channel Outdoor Holdings, Inc.† | 7.875% | 4/1/2030 | 20,413,000 | 20,306,459 | ||||||||
Clear Channel Outdoor Holdings, Inc.† | 9.00% | 9/15/2028 | 12,069,000 | 12,582,114 | ||||||||
Total | 39,339,546 | |||||||||||
Aerospace/Defense 1.95% | ||||||||||||
BAE Systems PLC (United Kingdom)†(d) | 5.25% | 3/26/2031 | 8,946,000 | 8,990,693 | ||||||||
Boeing Co. | 5.15% | 5/1/2030 | 21,720,000 | 21,024,878 | ||||||||
Boeing Co. | 5.805% | 5/1/2050 | 42,883,000 | 40,612,647 | ||||||||
Bombardier, Inc. (Canada)†(d) | 6.00% | 2/15/2028 | 20,954,000 | 20,634,969 | ||||||||
Bombardier, Inc. (Canada)†(d) | 7.125% | 6/15/2026 | 24,117,000 | 24,492,092 | ||||||||
Bombardier, Inc. (Canada)†(d) | 7.50% | 2/1/2029 | 34,016,000 | 35,065,530 | ||||||||
HEICO Corp. | 5.35% | 8/1/2033 | 13,525,000 | 13,576,472 | ||||||||
RTX Corp. | 5.15% | 2/27/2033 | 16,813,000 | 16,853,800 | ||||||||
Spirit AeroSystems, Inc. | 4.60% | 6/15/2028 | 15,375,000 | 14,427,832 | ||||||||
Spirit AeroSystems, Inc.† | 9.375% | 11/30/2029 | 19,860,000 | 21,687,855 | ||||||||
Spirit AeroSystems, Inc.† | 9.75% | 11/15/2030 | 23,677,000 | 26,513,883 | ||||||||
TransDigm, Inc. | 4.625% | 1/15/2029 | 58,913,000 | 54,742,272 | ||||||||
TransDigm, Inc. | 5.50% | 11/15/2027 | 77,736,000 | 76,145,708 | ||||||||
Triumph Group, Inc.† | 9.00% | 3/15/2028 | 33,629,000 | 35,494,804 | ||||||||
Total | 410,263,435 | |||||||||||
Agriculture 0.70% | ||||||||||||
BAT Capital Corp. | 7.75% | 10/19/2032 | 20,427,000 | 23,071,304 | ||||||||
Imperial Brands Finance PLC (United Kingdom)†(d) | 6.125% | 7/27/2027 | 20,171,000 | 20,586,452 | ||||||||
JT International Financial Services BV (Netherlands)†(d) | 6.875% | 10/24/2032 | 12,475,000 | 13,921,769 |
See Notes to Schedule of Investments. | 9 |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Agriculture (continued) | ||||||||||||
Philip Morris International, Inc. | 5.125% | 2/13/2031 | $ | 17,297,000 | $ | 17,191,623 | ||||||
Viterra Finance BV (Netherlands)†(d) | 2.00% | 4/21/2026 | 24,125,000 | 22,414,045 | ||||||||
Viterra Finance BV (Netherlands)†(d) | 3.20% | 4/21/2031 | 27,334,000 | 23,727,623 | ||||||||
Viterra Finance BV (Netherlands)†(d) | 5.25% | 4/21/2032 | 27,102,000 | 26,764,605 | ||||||||
Total | 147,677,421 | |||||||||||
Airlines 1.99% | ||||||||||||
Air Canada (Canada)†(d) | 3.875% | 8/15/2026 | 44,809,000 | 42,812,795 | ||||||||
Alaska Airlines Pass-Through Trust† | 4.80% | 2/15/2029 | 25,245,051 | 24,658,604 | ||||||||
American Airlines Pass-Through Trust | 3.00% | 4/15/2030 | 11,811,198 | 10,775,625 | ||||||||
American Airlines, Inc.† | 7.25% | 2/15/2028 | 16,554,000 | 16,824,227 | ||||||||
American Airlines, Inc./AAdvantage Loyalty IP Ltd.† | 5.75% | 4/20/2029 | 122,306,103 | 120,318,665 | ||||||||
Azul Secured Finance LLP† | 11.93% | 8/28/2028 | 24,643,000 | 25,279,849 | ||||||||
British Airways Pass-Through Trust (United Kingdom)†(d) | 3.30% | 6/15/2034 | 12,787,926 | 11,504,884 | ||||||||
British Airways Pass-Through Trust Class A (United Kingdom)†(d) | 4.25% | 5/15/2034 | 9,532,150 | 8,913,693 | ||||||||
Delta Air Lines, Inc./SkyMiles IP Ltd.† | 4.75% | 10/20/2028 | 29,635,081 | 28,994,646 | ||||||||
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd.† | 5.75% | 1/20/2026 | 48,588,300 | 45,652,405 | ||||||||
JetBlue Pass-Through Trust | 2.95% | 11/15/2029 | 10,914,100 | 9,734,295 | ||||||||
JetBlue Pass-Through Trust | 8.00% | 11/15/2027 | 6,319,775 | 6,380,426 | ||||||||
United Airlines Pass-Through Trust | 5.80% | 7/15/2037 | 24,046,000 | 24,542,483 | ||||||||
United Airlines Pass-Through Trust Series 2020-1 Class A | 5.875% | 4/15/2029 | 28,620,624 | 28,555,380 | ||||||||
United Airlines, Inc.† | 4.625% | 4/15/2029 | 14,775,000 | 13,757,226 | ||||||||
Total | 418,705,203 | |||||||||||
Auto Manufacturers 0.37% | ||||||||||||
Allison Transmission, Inc.† | 3.75% | 1/30/2031 | 37,678,000 | 32,910,087 | ||||||||
Aston Martin Capital Holdings Ltd. (Jersey)†(d) | 10.00% | 3/31/2029 | 20,854,000 | 21,253,667 | ||||||||
Jaguar Land Rover Automotive PLC (United Kingdom)†(d) | 5.875% | 1/15/2028 | 23,500,000 | 23,149,060 | ||||||||
Total | 77,312,814 | |||||||||||
Auto Parts & Equipment 0.44% | ||||||||||||
Adient Global Holdings Ltd.† | 7.00% | 4/15/2028 | 13,501,000 | 13,807,756 | ||||||||
Clarios Global LP/Clarios U.S. Finance Co.† | 6.75% | 5/15/2028 | 19,552,000 | 19,834,194 | ||||||||
Tenneco, Inc.† | 8.00% | 11/17/2028 | 23,120,000 | 21,118,111 |
10 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Auto Parts & Equipment (continued) | ||||||||||||
ZF North America Capital, Inc.† | 6.875% | 4/14/2028 | $ | 21,422,000 | $ | 22,239,798 | ||||||
ZF North America Capital, Inc.† | 7.125% | 4/14/2030 | 15,278,000 | 16,112,744 | ||||||||
Total | 93,112,603 | |||||||||||
Banks 5.38% | ||||||||||||
ABN AMRO Bank NV (Netherlands)†(d) | 3.324% (5 yr. CMT + 1.90%) | # | 3/13/2037 | 34,400,000 | 27,993,581 | |||||||
Akbank TAS (Turkey)†(d) | 9.369% (5 yr. CMT + 5.27%) | # | – | (h) | 24,524,000 | 24,516,643 | ||||||
Alfa Bank AO Via Alfa Bond Issuance PLC (Ireland)(d) | 5.50% (5 yr. CMT + 4.55%) | # | 10/26/2031 | 51,057,000 | 1 | (f) | ||||||
Australia & New Zealand Banking Group Ltd. (Australia)†(d) | 6.742% | 12/8/2032 | 49,324,000 | 53,030,241 | ||||||||
Banco de Credito e Inversiones SA (Chile)†(d) | 8.75% (5 yr. CMT + 4.94%) | # | – | (h) | 5,255,000 | 5,422,503 | ||||||
Bank of Ireland Group PLC (Ireland)†(d) | 2.029% (1 yr. CMT + 1.10%) | # | 9/30/2027 | 22,014,000 | 20,146,972 | |||||||
Bank of Ireland Group PLC (Ireland)†(d) | 6.253% (1 yr. CMT + 2.65%) | # | 9/16/2026 | 24,131,000 | 24,289,844 | |||||||
Bank OZK | 2.75% (3 mo. USD Term SOFR + 2.09%) | # | 10/1/2031 | 39,957,000 | 33,392,763 | |||||||
BankUnited, Inc. | 4.875% | 11/17/2025 | 24,108,000 | 23,525,078 | ||||||||
BBVA Bancomer SA† | 8.125% (5 yr. CMT + 4.21%) | # | 1/8/2039 | 41,628,000 | 43,155,581 | |||||||
BBVA Bancomer SA† | 8.45% (5 yr. CMT + 4.66%) | # | 6/29/2038 | 22,233,000 | 23,491,655 | |||||||
BNP Paribas SA (France)†(d) | 5.894% (SOFR + 1.87%) | # | 12/5/2034 | 22,387,000 | 23,418,972 | |||||||
CaixaBank SA (Spain)†(d) | 6.208% (SOFR + 2.70%) | # | 1/18/2029 | 50,923,000 | 51,990,403 | |||||||
Citizens Financial Group, Inc. | 5.841% (SOFR + 2.01%) | # | 1/23/2030 | 20,706,000 | 20,686,256 | |||||||
Danske Bank AS (Denmark)†(d) | 4.298% (1 yr. CMT + 1.75%) | # | 4/1/2028 | 22,215,000 | 21,444,812 | |||||||
Danske Bank AS (Denmark)†(d) | 6.466% (1 yr. CMT + 2.10%) | # | 1/9/2026 | 24,645,000 | 24,739,465 | |||||||
Deutsche Bank AG | 6.72% (SOFR + 3.18%) | # | 1/18/2029 | 42,171,000 | 43,637,784 | |||||||
Deutsche Bank AG | 7.079% (SOFR + 3.65%) | # | 2/10/2034 | 54,127,000 | 55,709,178 |
See Notes to Schedule of Investments. | 11 |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Banks (continued) | ||||||||||||
Fifth Third Bancorp | 6.339% (SOFR + 2.34%) | # | 7/27/2029 | $ | 16,837,000 | $ | 17,363,257 | |||||
First Republic Bank | 4.375% | 8/1/2046 | 20,817,000 | 936,765 | ||||||||
First Republic Bank | 4.625% | 2/13/2047 | 15,410,000 | 731,975 | ||||||||
First-Citizens Bank & Trust Co. | 6.125% | 3/9/2028 | 50,320,000 | 51,716,140 | ||||||||
Freedom Mortgage Corp.† | 12.00% | 10/1/2028 | 5,315,000 | 5,798,957 | ||||||||
Home BancShares, Inc. | 3.125% (3 mo. USD Term SOFR + 1.82%) | # | 1/30/2032 | 22,552,000 | 17,110,747 | |||||||
KeyBank NA | 5.85% | 11/15/2027 | 16,351,000 | 16,224,230 | ||||||||
Lloyds Banking Group PLC (United Kingdom)(d) | 5.871% (1 yr. CMT + 1.70%) | # | 3/6/2029 | 20,198,000 | 20,532,122 | |||||||
Lloyds Banking Group PLC (United Kingdom)(d) | 6.912% (SOFR + 1.56%) | # | 8/7/2027 | 24,531,000 | 24,905,471 | |||||||
Macquarie Bank Ltd. (United Kingdom)(d) | 6.125% (5 yr. USD Swap + 3.70%) | # | – | (h) | 10,748,000 | 10,325,381 | ||||||
Mitsubishi UFJ Financial Group, Inc. (Japan)(d) | 8.20% (5 yr. CMT + 3.29%) | # | – | (h) | 13,125,000 | 14,194,740 | ||||||
NatWest Group PLC (United Kingdom)(d) | 7.472% (1 yr. CMT + 2.85%) | # | 11/10/2026 | 33,670,000 | 34,599,965 | |||||||
Norinchukin Bank (Japan)†(d) | 5.43% | 3/9/2028 | 15,835,000 | 16,053,671 | ||||||||
Standard Chartered PLC (United Kingdom)†(d) | 6.097% (1 yr. CMT + 2.10%) | # | 1/11/2035 | 17,680,000 | 18,218,582 | |||||||
Standard Chartered PLC (United Kingdom)†(d) | 7.767% (1 yr. CMT + 3.45%) | # | 11/16/2028 | 40,170,000 | 43,000,791 | |||||||
Sumitomo Mitsui Financial Group, Inc. (Japan)(d) | 6.60% (5 yr. CMT + 2.28%) | # | – | (h) | 12,726,000 | 12,773,964 | ||||||
SVB Financial Group(i) | 4.25% (5 yr. CMT + 3.07%) | – | (h) | 78,029,000 | 1,543,904 | |||||||
TC Ziraat Bankasi AS (Turkey)†(d) | 8.00% | 1/16/2029 | 28,354,000 | 28,794,168 | ||||||||
Truist Financial Corp. | 5.711% (SOFR + 1.92%) | # | 1/24/2035 | 10,787,000 | 10,838,613 | |||||||
Turkiye Garanti Bankasi AS (Turkey)†(d) | 8.375% (5 yr. CMT + 4.09%) | # | 2/28/2034 | 9,962,000 | 9,968,874 |
12 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Banks (continued) | ||||||||||||
U.S. Bancorp | 5.384% (SOFR + 1.56%) | # | 1/23/2030 | $ | 20,679,000 | $ | 20,775,699 | |||||
UBS Group AG (Switzerland)†(d) | 3.869% (3 mo. USD LIBOR + 1.41%) | # | 1/12/2029 | 66,016,000 | 62,453,614 | |||||||
UBS Group AG (Switzerland)†(d) | 9.25% (5 yr. CMT + 4.75%) | # | – | (h) | 24,151,000 | 26,227,382 | ||||||
UBS Group AG (Switzerland)†(d) | 9.25% (5 yr. CMT + 4.76%) | # | – | (h) | 13,301,000 | 15,043,923 | ||||||
UniCredit SpA (Italy)†(d) | 7.296% (5 yr. USD ICE Swap + 4.91%) | # | 4/2/2034 | 45,208,000 | 46,502,611 | |||||||
Webster Financial Corp. | 4.10% | 3/25/2029 | 34,898,000 | 32,074,066 | ||||||||
Western Alliance Bancorp | 3.00% (3 mo. USD Term SOFR + 2.25%) | # | 6/15/2031 | 36,659,000 | 31,646,248 | |||||||
Yapi ve Kredi Bankasi AS (Turkey)†(d) | 9.25% (5 yr. CMT + 5.28%) | # | 1/17/2034 | 19,391,000 | 19,975,057 | |||||||
Total | 1,130,922,649 | |||||||||||
Beverages 0.25% | ||||||||||||
Bacardi Ltd.† | 4.70% | 5/15/2028 | 16,884,000 | 16,483,005 | ||||||||
Bacardi Ltd./Bacardi-Martini BV† | 5.25% | 1/15/2029 | 14,731,000 | 14,596,126 | ||||||||
Central American Bottling Corp./CBC Bottling Holdco SL/Beliv Holdco SL (Guatemala)†(d) | 5.25% | 4/27/2029 | 22,947,000 | 21,889,318 | ||||||||
Total | 52,968,449 | |||||||||||
Building Materials 1.29% | ||||||||||||
ACProducts Holdings, Inc.† | 6.375% | 5/15/2029 | 27,943,000 | 21,711,555 | ||||||||
Builders FirstSource, Inc.† | 4.25% | 2/1/2032 | 22,175,000 | 19,902,504 | ||||||||
Builders FirstSource, Inc.† | 6.375% | 6/15/2032 | 21,666,000 | 22,005,528 | ||||||||
Carrier Global Corp. | 5.90% | 3/15/2034 | 7,415,000 | 7,796,551 | ||||||||
Carrier Global Corp. | 6.20% | 3/15/2054 | 7,894,000 | 8,698,870 | ||||||||
EMRLD Borrower LP/Emerald Co.-Issuer, Inc.† | 6.625% | 12/15/2030 | 56,012,000 | 56,619,338 | ||||||||
Griffon Corp. | 5.75% | 3/1/2028 | 16,769,000 | 16,434,569 | ||||||||
MIWD Holdco II LLC/MIWD Finance Corp.† | 5.50% | 2/1/2030 | 34,251,000 | 31,556,020 | ||||||||
Smyrna Ready Mix Concrete LLC† | 6.00% | 11/1/2028 | 27,426,000 | 26,838,594 | ||||||||
St. Mary’s Cement, Inc. (Canada)†(d) | 5.75% | 4/2/2034 | 7,859,000 | 7,803,987 | ||||||||
Standard Industries, Inc.† | 4.375% | 7/15/2030 | 15,318,000 | 13,774,561 | ||||||||
Summit Materials LLC/Summit Materials Finance Corp.† | 7.25% | 1/15/2031 | 15,400,000 | 16,018,187 | ||||||||
Vulcan Materials Co. | 4.50% | 6/15/2047 | 24,390,000 | 21,347,565 | ||||||||
Total | 270,507,829 |
See Notes to Schedule of Investments. | 13 |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Chemicals 1.30% | ||||||||||||
Cabot Corp. | 5.00% | 6/30/2032 | $ | 32,395,000 | $ | 31,654,529 | ||||||
Celanese U.S. Holdings LLC | 6.165% | 7/15/2027 | 38,493,000 | 39,222,430 | ||||||||
Ingevity Corp.† | 3.875% | 11/1/2028 | 24,342,000 | 22,010,319 | ||||||||
OCI NV (Netherlands)†(d) | 6.70% | 3/16/2033 | 22,392,000 | 22,337,614 | ||||||||
OCP SA (Malaysia)†(d) | 3.75% | 6/23/2031 | 43,718,000 | 37,375,611 | ||||||||
Olin Corp. | 5.00% | 2/1/2030 | 22,985,000 | 21,833,242 | ||||||||
Olympus Water U.S. Holding Corp.† | 9.75% | 11/15/2028 | 22,116,000 | 23,585,977 | ||||||||
SCIH Salt Holdings, Inc.† | 4.875% | 5/1/2028 | 21,862,000 | 20,389,382 | ||||||||
SCIH Salt Holdings, Inc.† | 6.625% | 5/1/2029 | 29,857,000 | 27,675,666 | ||||||||
SK Invictus Intermediate II SARL (Luxembourg)†(d) | 5.00% | 10/30/2029 | 31,346,000 | 27,972,844 | ||||||||
Total | 274,057,614 | |||||||||||
Coal 0.35% | ||||||||||||
SunCoke Energy, Inc.† | 4.875% | 6/30/2029 | 24,865,000 | 22,538,829 | ||||||||
Teck Resources Ltd. (Canada)(d) | 3.90% | 7/15/2030 | 36,312,000 | 33,511,370 | ||||||||
Warrior Met Coal, Inc.† | 7.875% | 12/1/2028 | 17,451,000 | 17,593,115 | ||||||||
Total | 73,643,314 | |||||||||||
Commercial Services 1.40% | ||||||||||||
Adani Ports & Special Economic Zone Ltd. (India)(d) | 4.00% | 7/30/2027 | 15,278,000 | 14,034,492 | ||||||||
Adani Ports & Special Economic Zone Ltd. (India)(d) | 4.20% | 8/4/2027 | 10,187,000 | 9,418,995 | ||||||||
Allied Universal Holdco LLC† | 7.875% | 2/15/2031 | 22,654,000 | 22,972,221 | ||||||||
Allied Universal Holdco LLC/Allied Universal Finance Corp.† | 6.625% | 7/15/2026 | 5,561,000 | 5,562,017 | ||||||||
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL (Luxembourg)†(d) | 4.625% | 6/1/2028 | 24,282,000 | 22,201,297 | ||||||||
Ashtead Capital, Inc.† | 5.50% | 8/11/2032 | 19,088,000 | 18,674,645 | ||||||||
Ashtead Capital, Inc.† | 5.55% | 5/30/2033 | 17,598,000 | 17,318,356 | ||||||||
Ashtead Capital, Inc.† | 5.80% | 4/15/2034 | 9,216,000 | 9,210,870 | ||||||||
Brink’s Co.† | 4.625% | 10/15/2027 | 15,353,000 | 14,588,385 | ||||||||
CoreCivic, Inc. | 8.25% | 4/15/2029 | 22,853,000 | 23,921,263 | ||||||||
Garda World Security Corp. (Canada)†(d) | 7.75% | 2/15/2028 | 14,444,000 | 14,824,166 | ||||||||
Gartner, Inc.† | 3.625% | 6/15/2029 | 34,280,000 | 31,070,083 | ||||||||
GXO Logistics, Inc. | 2.65% | 7/15/2031 | 25,082,000 | 20,441,289 | ||||||||
Hertz Corp. | Zero Coupon | 10/15/2024 | 16,775,000 | 671,000 | ||||||||
Hertz Corp.† | Zero Coupon | 1/15/2028 | 33,436,000 | 3,343,600 |
14 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Commercial Services (continued) | ||||||||||||
ITR Concession Co. LLC† | 5.183% | 7/15/2035 | $ | 12,438,000 | $ | 10,764,225 | ||||||
NESCO Holdings II, Inc.† | 5.50% | 4/15/2029 | 23,478,000 | 22,238,768 | ||||||||
Wand NewCo 3, Inc.† | 7.625% | 1/30/2032 | 31,480,000 | 32,583,909 | ||||||||
Total | 293,839,581 | |||||||||||
Computers 1.12% | ||||||||||||
Booz Allen Hamilton, Inc. | 5.95% | 8/4/2033 | 18,162,000 | 18,811,419 | ||||||||
Crowdstrike Holdings, Inc. | 3.00% | 2/15/2029 | 102,227,000 | 90,774,253 | ||||||||
Fortinet, Inc. | 2.20% | 3/15/2031 | 17,352,000 | 14,497,899 | ||||||||
McAfee Corp.† | 7.375% | 2/15/2030 | 26,054,000 | 23,921,259 | ||||||||
NCR Atleos Corp.† | 9.50% | 4/1/2029 | 21,129,000 | 22,621,426 | ||||||||
NCR Voyix Corp.† | 5.125% | 4/15/2029 | 22,314,000 | 20,720,957 | ||||||||
NetApp, Inc. | 2.70% | 6/22/2030 | 10,143,000 | 8,792,463 | ||||||||
Seagate HDD Cayman (Cayman Islands)†(d) | 8.25% | 12/15/2029 | 13,411,000 | 14,423,584 | ||||||||
Western Digital Corp. | 3.10% | 2/1/2032 | 27,000,000 | 21,765,272 | ||||||||
Total | 236,328,532 | |||||||||||
Distribution/Wholesale 0.68% | ||||||||||||
American Builders & Contractors Supply Co., Inc.† | 4.00% | 1/15/2028 | 24,375,000 | 22,839,511 | ||||||||
Ferguson Finance PLC (United Kingdom)†(d) | 3.25% | 6/2/2030 | 23,101,000 | 20,681,236 | ||||||||
H&E Equipment Services, Inc.† | 3.875% | 12/15/2028 | 22,711,000 | 20,819,360 | ||||||||
LKQ Corp. | 6.25% | 6/15/2033 | 27,041,000 | 28,179,407 | ||||||||
Ritchie Bros Holdings, Inc.† | 7.75% | 3/15/2031 | 21,911,000 | 22,951,619 | ||||||||
Windsor Holdings III LLC† | 8.50% | 6/15/2030 | 25,292,000 | 26,550,505 | ||||||||
Total | 142,021,638 | |||||||||||
Diversified Financial Services 2.30% | ||||||||||||
AG Issuer LLC† | 6.25% | 3/1/2028 | 24,003,000 | 23,524,330 | ||||||||
Aircastle Ltd.† | 6.50% | 7/18/2028 | 22,558,000 | 23,027,206 | ||||||||
Ally Financial, Inc. | 6.70% | 2/14/2033 | 44,941,000 | 45,447,075 | ||||||||
Apollo Global Management, Inc. | 6.375% | 11/15/2033 | 19,031,000 | 20,481,114 | ||||||||
ARES Management Corp. | 6.375% | 11/10/2028 | 22,294,000 | 23,384,953 | ||||||||
Avolon Holdings Funding Ltd. (Ireland)†(d) | 4.25% | 4/15/2026 | 29,720,000 | 28,695,114 | ||||||||
Azul Secured Finance LLP† | 11.50% | 5/28/2029 | 38,391,638 | 33,005,180 | ||||||||
Coinbase Global, Inc.† | 3.375% | 10/1/2028 | 39,479,000 | 33,868,169 | ||||||||
Coinbase Global, Inc.† | 3.625% | 10/1/2031 | 11,267,000 | 9,110,644 | ||||||||
Freedom Mortgage Holdings LLC† | 9.25% | 2/1/2029 | 19,878,000 | 20,361,970 | ||||||||
Global Aircraft Leasing Co. Ltd. (Cayman Islands)†(d) | 6.50% | 9/15/2024 | 27,844,383 | 26,431,966 |
See Notes to Schedule of Investments. | 15 |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Diversified Financial Services (continued) | ||||||||||||
Hellas Telecommunications Luxembourg II SCA (Luxembourg)†(d)(i) | 6.054% (3 mo. USD LIBOR + 5.75%) | 1/15/2015 | $ | 15,000,000 | $ | – | (f)(j) | |||||
ILFC E-Capital Trust I† | 7.145% (3 mo. USD Term SOFR + 1.81%) | # | 12/21/2065 | 13,991,000 | 10,963,135 | |||||||
ILFC E-Capital Trust II† | 7.395% (3 mo. USD Term SOFR + 2.06%) | # | 12/21/2065 | 7,488,000 | 6,013,147 | |||||||
Jane Street Group/JSG Finance, Inc.† | 4.50% | 11/15/2029 | 18,510,000 | 17,141,632 | ||||||||
LPL Holdings, Inc.† | 4.00% | 3/15/2029 | 21,679,000 | 19,944,353 | ||||||||
Macquarie Airfinance Holdings Ltd. (United Kingdom)†(d) | 6.50% | 3/26/2031 | 15,180,000 | 15,462,131 | ||||||||
Navient Corp. | 5.50% | 3/15/2029 | 27,371,000 | 25,515,282 | ||||||||
Navient Corp. | 6.75% | 6/15/2026 | 21,670,000 | 21,863,751 | ||||||||
Neuberger Berman Group LLC/Neuberger Berman Finance Corp.† | 4.875% | 4/15/2045 | 25,846,000 | 20,991,178 | ||||||||
PennyMac Financial Services, Inc.† | 7.875% | 12/15/2029 | 22,745,000 | 23,391,982 | ||||||||
Synchrony Financial | 7.25% | 2/2/2033 | 35,946,000 | 35,725,293 | ||||||||
Total | 484,349,605 | |||||||||||
Electric 3.49% | ||||||||||||
Ausgrid Finance Pty. Ltd. (Australia)†(d) | 4.35% | 8/1/2028 | 26,506,000 | 25,488,759 | ||||||||
Calpine Corp.† | 4.50% | 2/15/2028 | 23,379,000 | 22,192,586 | ||||||||
Calpine Corp.† | 4.625% | 2/1/2029 | 74,359,000 | 68,897,056 | ||||||||
Calpine Corp.† | 5.125% | 3/15/2028 | 27,994,000 | 26,890,714 | ||||||||
Cleveland Electric Illuminating Co.† | 3.50% | 4/1/2028 | 17,565,000 | 16,410,809 | ||||||||
Constellation Energy Generation LLC | 5.60% | 6/15/2042 | 21,992,000 | 21,750,427 | ||||||||
Constellation Energy Generation LLC | 5.80% | 3/1/2033 | 28,492,000 | 29,381,615 | ||||||||
Constellation Energy Generation LLC | 6.25% | 10/1/2039 | 42,389,000 | 44,690,832 | ||||||||
Constellation Energy Generation LLC | 6.50% | 10/1/2053 | 15,050,000 | 16,570,498 | ||||||||
ITC Holdings Corp.† | 4.95% | 9/22/2027 | 22,504,000 | 22,370,291 | ||||||||
Minejesa Capital BV (Netherlands)†(d) | 4.625% | 8/10/2030 | 28,384,934 | 27,010,493 | ||||||||
NextEra Energy Operating Partners LP† | 4.50% | 9/15/2027 | 35,216,000 | 32,986,637 | ||||||||
NRG Energy, Inc.† | 7.00% | 3/15/2033 | 15,995,000 | 17,083,076 | ||||||||
NRG Energy, Inc.† | 10.25% (5 yr. CMT + 5.92%) | # | – | (h) | 40,754,000 | 43,755,450 | ||||||
NSG Holdings LLC/NSG Holdings, Inc.† | 7.75% | 12/15/2025 | 1,131,520 | 1,126,717 | ||||||||
Pacific Gas & Electric Co. | 6.15% | 1/15/2033 | 38,334,000 | 39,553,304 | ||||||||
Palomino Funding Trust I† | 7.233% | 5/17/2028 | 44,964,000 | 47,238,524 | ||||||||
Pattern Energy Operations LP/Pattern Energy Operations, Inc.† | 4.50% | 8/15/2028 | 26,956,000 | 25,152,649 |
16 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Electric (continued) | ||||||||||||
PG&E Corp. | 5.25% | 7/1/2030 | $ | 22,743,000 | $ | 21,635,168 | ||||||
Pike Corp.† | 5.50% | 9/1/2028 | 25,272,000 | 24,215,762 | ||||||||
Pike Corp.† | 8.625% | 1/31/2031 | 15,092,000 | 16,056,635 | ||||||||
Puget Energy, Inc. | 4.10% | 6/15/2030 | 26,045,000 | 23,831,271 | ||||||||
Talen Energy Supply LLC† | 8.625% | 6/1/2030 | 24,852,000 | 26,594,341 | ||||||||
Vistra Corp.† | 7.00% (5 yr. CMT + 5.74%) | # | – | (h) | 21,649,000 | 21,457,205 | ||||||
Vistra Operations Co. LLC† | 4.375% | 5/1/2029 | 77,332,000 | 71,719,607 | ||||||||
Total | 734,060,426 | |||||||||||
Electronics 0.23% | ||||||||||||
Imola Merger Corp.† | 4.75% | 5/15/2029 | 18,106,000 | 16,993,127 | ||||||||
Trimble, Inc. | 6.10% | 3/15/2033 | 31,018,000 | 32,422,229 | ||||||||
Total | 49,415,356 | |||||||||||
Energy-Alternate Sources 0.47% | ||||||||||||
TerraForm Power Operating LLC† | 4.75% | 1/15/2030 | 23,420,000 | 21,486,794 | ||||||||
TerraForm Power Operating LLC† | 5.00% | 1/31/2028 | 23,969,000 | 22,846,371 | ||||||||
Topaz Solar Farms LLC† | 5.75% | 9/30/2039 | 54,225,159 | 54,194,793 | ||||||||
Total | 98,527,958 | |||||||||||
Engineering & Construction 0.93% | ||||||||||||
Aeropuerto Internacional de Tocumen SA (Panama)†(d) | 5.125% | 8/11/2061 | 53,645,000 | 39,359,143 | ||||||||
Brand Industrial Services, Inc.† | 10.375% | 8/1/2030 | 18,077,000 | 19,593,895 | ||||||||
Fluor Corp. | 4.25% | 9/15/2028 | 23,125,000 | 21,629,388 | ||||||||
Heathrow Finance PLC | 6.625% | 3/1/2031 | GBP | 16,264,000 | 20,342,424 | |||||||
Jacobs Engineering Group, Inc. | 5.90% | 3/1/2033 | $ | 27,604,000 | 27,967,172 | |||||||
Jacobs Engineering Group, Inc. | 6.35% | 8/18/2028 | 16,087,000 | 16,635,910 | ||||||||
MasTec, Inc.† | 4.50% | 8/15/2028 | 23,035,000 | 21,922,297 | ||||||||
TAV Havalimanlari Holding AS (Turkey)†(d) | 8.50% | 12/7/2028 | 20,581,000 | 21,264,804 | ||||||||
TopBuild Corp.† | 4.125% | 2/15/2032 | 8,500,000 | 7,530,849 | ||||||||
Total | 196,245,882 | |||||||||||
Entertainment 1.87% | ||||||||||||
AMC Entertainment Holdings, Inc.† | 10.00% | 6/15/2026 | 25,427,858 | 18,981,704 | ||||||||
Boyne USA, Inc.† | 4.75% | 5/15/2029 | 23,563,000 | 21,857,208 | ||||||||
Caesars Entertainment, Inc.† | 4.625% | 10/15/2029 | 38,882,000 | 35,486,470 | ||||||||
Caesars Entertainment, Inc.† | 7.00% | 2/15/2030 | 30,300,000 | 31,121,433 | ||||||||
Churchill Downs, Inc.† | 4.75% | 1/15/2028 | 36,115,000 | 34,404,922 | ||||||||
Churchill Downs, Inc.† | 5.50% | 4/1/2027 | 34,952,000 | 34,331,186 |
See Notes to Schedule of Investments. | 17 |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Entertainment (continued) | ||||||||||||
Merlin Entertainments Ltd. (United Kingdom)†(d) | 5.75% | 6/15/2026 | $ | 26,904,000 | $ | 26,672,289 | ||||||
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp.† | 4.875% | 5/1/2029 | 44,276,000 | 41,033,731 | ||||||||
Mohegan Tribal Gaming Authority† | 8.00% | 2/1/2026 | 42,170,000 | 41,299,822 | ||||||||
Resorts World Las Vegas LLC/RWLV Capital, Inc.† | 4.625% | 4/16/2029 | 42,245,000 | 38,588,759 | ||||||||
SeaWorld Parks & Entertainment, Inc.† | 5.25% | 8/15/2029 | 47,179,000 | 44,468,529 | ||||||||
WMG Acquisition Corp.† | 3.75% | 12/1/2029 | 27,478,000 | 24,643,218 | ||||||||
Total | 392,889,271 | |||||||||||
Environmental Control 0.26% | ||||||||||||
Madison IAQ LLC† | 4.125% | 6/30/2028 | 32,278,000 | 29,882,469 | ||||||||
Madison IAQ LLC† | 5.875% | 6/30/2029 | 26,967,000 | 24,698,935 | ||||||||
Total | 54,581,404 | |||||||||||
Food 1.18% | ||||||||||||
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC† | 3.50% | 3/15/2029 | 48,449,000 | 43,531,417 | ||||||||
Bellis Acquisition Co. PLC | 3.25% | 2/16/2026 | GBP | 27,281,000 | 32,600,647 | |||||||
Chobani LLC/Chobani Finance Corp., Inc.† | 4.625% | 11/15/2028 | $ | 16,808,000 | 15,693,248 | |||||||
Chobani LLC/Chobani Finance Corp., Inc.† | 7.625% | 7/1/2029 | 13,443,000 | 13,644,648 | ||||||||
J M Smucker Co. | 6.20% | 11/15/2033 | 13,491,000 | 14,398,710 | ||||||||
Lamb Weston Holdings, Inc.† | 4.125% | 1/31/2030 | 24,243,000 | 22,127,500 | ||||||||
McCormick & Co., Inc. | 4.95% | 4/15/2033 | 14,652,000 | 14,498,717 | ||||||||
Post Holdings, Inc.† | 4.50% | 9/15/2031 | 22,633,000 | 20,381,064 | ||||||||
Post Holdings, Inc.† | 4.625% | 4/15/2030 | 22,270,000 | 20,460,848 | ||||||||
Smithfield Foods, Inc.† | 5.20% | 4/1/2029 | 28,037,000 | 27,020,144 | ||||||||
U.S. Foods, Inc.† | 4.75% | 2/15/2029 | 24,298,000 | 23,094,141 | ||||||||
Total | 247,451,084 | |||||||||||
Gas 0.20% | ||||||||||||
Brooklyn Union Gas Co.† | 3.407% | 3/10/2026 | 22,726,000 | 21,805,162 | ||||||||
Southwest Gas Corp. | 4.05% | 3/15/2032 | 22,297,000 | 20,479,883 | ||||||||
Total | 42,285,045 | |||||||||||
Hand/Machine Tools 0.31% | ||||||||||||
Regal Rexnord Corp.† | 6.40% | 4/15/2033 | 63,120,000 | 65,526,571 |
18 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Health Care-Products 0.77% | ||||||||||||
Bausch & Lomb Corp. (Canada)†(d) | 8.375% | 10/1/2028 | $ | 20,761,000 | $ | 21,506,527 | ||||||
Boston Scientific Corp. | 6.50% | 11/15/2035 | 13,056,000 | 14,534,812 | ||||||||
GE HealthCare Technologies, Inc. | 6.377% | 11/22/2052 | 12,938,000 | 14,617,920 | ||||||||
Medline Borrower LP† | 3.875% | 4/1/2029 | 45,158,000 | 41,132,684 | ||||||||
Medline Borrower LP† | 5.25% | 10/1/2029 | 25,194,000 | 23,831,849 | ||||||||
Solventum Corp.† | 5.45% | 3/13/2031 | 26,992,000 | 26,931,315 | ||||||||
Solventum Corp.† | 5.60% | 3/23/2034 | 19,282,000 | 19,353,684 | ||||||||
Total | 161,908,791 | |||||||||||
Health Care-Services 3.43% | ||||||||||||
Catalent Pharma Solutions, Inc.† | 3.125% | 2/15/2029 | 69,909,000 | 66,869,986 | ||||||||
Charles River Laboratories International, Inc.† | 3.75% | 3/15/2029 | 26,607,000 | 24,309,195 | ||||||||
CHS/Community Health Systems, Inc.† | 4.75% | 2/15/2031 | 103,117,000 | 79,673,546 | ||||||||
CHS/Community Health Systems, Inc.† | 5.25% | 5/15/2030 | 22,394,000 | 18,279,824 | ||||||||
CHS/Community Health Systems, Inc.† | 6.875% | 4/15/2029 | 16,253,000 | 12,183,769 | ||||||||
DaVita, Inc.† | 4.625% | 6/1/2030 | 62,876,000 | 56,333,369 | ||||||||
HCA, Inc. | 3.50% | 9/1/2030 | 24,212,000 | 21,904,102 | ||||||||
HCA, Inc. | 5.50% | 6/1/2033 | 22,533,000 | 22,621,998 | ||||||||
HCA, Inc. | 7.69% | 6/15/2025 | 7,994,000 | 8,092,864 | ||||||||
Heartland Dental LLC/Heartland Dental Finance Corp.† | 8.50% | 5/1/2026 | 23,386,000 | 23,211,847 | ||||||||
IQVIA, Inc. | 6.25% | 2/1/2029 | 14,232,000 | 14,789,112 | ||||||||
LifePoint Health, Inc.† | 9.875% | 8/15/2030 | 22,545,000 | 23,611,198 | ||||||||
LifePoint Health, Inc.† | 11.00% | 10/15/2030 | 25,695,000 | 27,494,706 | ||||||||
Molina Healthcare, Inc.† | 3.875% | 11/15/2030 | 41,142,000 | 36,612,253 | ||||||||
Molina Healthcare, Inc.† | 3.875% | 5/15/2032 | 40,412,000 | 35,218,650 | ||||||||
Montefiore Obligated Group | 5.246% | 11/1/2048 | 42,910,000 | 32,520,803 | ||||||||
RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc.† | 9.75% | 12/1/2026 | 11,747,000 | 11,771,798 | ||||||||
Star Parent, Inc.† | 9.00% | 10/1/2030 | 36,595,000 | 38,774,452 | ||||||||
Surgery Center Holdings, Inc.†(b) | 7.25% | 4/15/2032 | 22,320,000 | 22,521,230 | ||||||||
Tenet Healthcare Corp. | 4.375% | 1/15/2030 | 27,941,000 | 25,848,264 | ||||||||
Tenet Healthcare Corp. | 6.125% | 10/1/2028 | 68,563,000 | 68,374,520 | ||||||||
Tenet Healthcare Corp. | 6.125% | 6/15/2030 | 24,534,000 | 24,508,386 | ||||||||
Tenet Healthcare Corp.† | 6.75% | 5/15/2031 | 25,561,000 | 26,058,928 | ||||||||
Total | 721,584,800 |
See Notes to Schedule of Investments. | 19 |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Holding Companies-Diversified 0.22% | ||||||||||||
Benteler International AG (Austria)†(d) | 10.50% | 5/15/2028 | $ | 21,318,000 | $ | 23,074,774 | ||||||
Stena International SA (Luxembourg)†(d) | 7.25% | 1/15/2031 | 22,240,000 | 22,213,267 | ||||||||
Total | 45,288,041 | |||||||||||
Home Builders 0.17% | ||||||||||||
PulteGroup, Inc. | 6.375% | 5/15/2033 | 19,353,000 | 20,559,968 | ||||||||
Toll Brothers Finance Corp. | 4.35% | 2/15/2028 | 14,968,000 | 14,475,753 | ||||||||
Total | 35,035,721 | |||||||||||
Home Furnishings 0.09% | ||||||||||||
Leggett & Platt, Inc. | 4.40% | 3/15/2029 | 19,665,000 | 18,464,521 | ||||||||
Insurance 2.27% | ||||||||||||
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer† | 6.75% | 10/15/2027 | 29,808,000 | 29,391,991 | ||||||||
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer† | 6.75% | 4/15/2028 | 40,395,000 | 40,721,513 | ||||||||
Arch Capital Finance LLC | 4.011% | 12/15/2026 | 14,967,000 | 14,521,627 | ||||||||
Ardonagh Finco Ltd. (United Kingdom)†(d) | 7.75% | 2/15/2031 | 18,104,000 | 18,040,745 | ||||||||
Ardonagh Group Finance Ltd. (United Kingdom)†(d) | 8.875% | 2/15/2032 | 21,499,000 | 21,249,773 | ||||||||
Arthur J Gallagher & Co. | 6.75% | 2/15/2054 | 13,542,000 | 15,385,508 | ||||||||
Athene Holding Ltd. | 5.875% | 1/15/2034 | 34,626,000 | 34,717,340 | ||||||||
AXIS Specialty Finance PLC (United Kingdom)(d) | 5.15% | 4/1/2045 | 20,919,000 | 18,619,619 | ||||||||
Brown & Brown, Inc. | 2.375% | 3/15/2031 | 20,059,000 | 16,642,672 | ||||||||
Howden U.K. Refinance PLC/Howden U.K. Refinance 2 PLC/Howden U.S. Refinance LLC (United Kingdom)†(d) | 7.25% | 2/15/2031 | 23,169,000 | 23,280,485 | ||||||||
HUB International Ltd.† | 7.25% | 6/15/2030 | 31,554,000 | 32,450,354 | ||||||||
HUB International Ltd.† | 7.375% | 1/31/2032 | 17,259,000 | 17,386,009 | ||||||||
Jones Deslauriers Insurance Management, Inc. (Canada)†(d) | 8.50% | 3/15/2030 | 10,819,000 | 11,286,976 | ||||||||
Old Republic International Corp. | 5.75% | 3/28/2034 | 13,682,000 | 13,753,896 | ||||||||
Panther Escrow Issuer LLC†(b) | 7.125% | 6/1/2031 | 26,138,000 | 26,595,676 | ||||||||
PartnerRe Finance B LLC | 3.70% | 7/2/2029 | 15,406,000 | 14,730,928 | ||||||||
RenaissanceRe Holdings Ltd. | 5.75% | 6/5/2033 | 32,586,000 | 32,880,049 | ||||||||
Selective Insurance Group, Inc. | 5.375% | 3/1/2049 | 10,049,000 | 9,618,749 | ||||||||
Swiss RE Subordinated Finance PLC (United Kingdom)†(b)(d) | 5.698% (3 mo. USD Term SOFR + 1.81%) | # | 4/5/2035 | 20,200,000 | 20,219,099 |
20 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Insurance (continued) | ||||||||||||
Transatlantic Holdings, Inc. | 8.00% | 11/30/2039 | $ | 15,659,000 | $ | 20,065,721 | ||||||
Willis North America, Inc. | 5.90% | 3/5/2054 | 44,990,000 | 45,582,031 | ||||||||
Total | 477,140,761 | |||||||||||
Internet 0.38% | ||||||||||||
EquipmentShare.com, Inc.† | 9.00% | 5/15/2028 | 35,000,000 | 36,093,455 | ||||||||
Gen Digital, Inc.† | 6.75% | 9/30/2027 | 22,453,000 | 22,795,857 | ||||||||
Tencent Holdings Ltd. (China)†(d) | 3.925% | 1/19/2038 | 24,722,000 | 21,227,721 | ||||||||
Total | 80,117,033 | |||||||||||
Investment Companies 0.27% | ||||||||||||
ARES Capital Corp. | 7.00% | 1/15/2027 | 34,688,000 | 35,699,429 | ||||||||
Blackstone Private Credit Fund† | 6.25% | 1/25/2031 | 21,138,000 | 21,249,427 | ||||||||
Total | 56,948,856 | |||||||||||
Iron-Steel 0.48% | ||||||||||||
ArcelorMittal SA (Luxembourg)(d) | 6.55% | 11/29/2027 | 19,727,000 | 20,481,446 | ||||||||
Commercial Metals Co. | 4.375% | 3/15/2032 | 15,677,000 | 14,140,392 | ||||||||
Mineral Resources Ltd. (Australia)†(d) | 8.50% | 5/1/2030 | 25,341,000 | 26,129,029 | ||||||||
Steel Dynamics, Inc. | 3.45% | 4/15/2030 | 18,014,000 | 16,534,158 | ||||||||
U.S. Steel Corp. | 6.875% | 3/1/2029 | 24,139,000 | 24,392,291 | ||||||||
Total | 101,677,316 | |||||||||||
Leisure Time 1.53% | ||||||||||||
Carnival Corp.† | 4.00% | 8/1/2028 | 41,410,000 | 38,601,160 | ||||||||
Carnival Corp.† | 5.75% | 3/1/2027 | 49,676,000 | 49,197,148 | ||||||||
Carnival Corp.† | 6.00% | 5/1/2029 | 29,128,000 | 28,759,085 | ||||||||
NCL Corp. Ltd.† | 5.875% | 3/15/2026 | 34,273,000 | 33,855,240 | ||||||||
NCL Corp. Ltd.† | 5.875% | 2/15/2027 | 36,990,000 | 36,570,626 | ||||||||
NCL Corp. Ltd.† | 8.375% | 2/1/2028 | 12,109,000 | 12,799,746 | ||||||||
Polaris, Inc. | 6.95% | 3/15/2029 | 44,484,000 | 47,354,180 | ||||||||
Royal Caribbean Cruises Ltd.† | 5.50% | 8/31/2026 | 23,950,000 | 23,754,331 | ||||||||
Royal Caribbean Cruises Ltd.† | 6.25% | 3/15/2032 | 20,713,000 | 20,891,028 | ||||||||
Viking Cruises Ltd.† | 5.875% | 9/15/2027 | 27,088,000 | 26,595,405 | ||||||||
Viking Ocean Cruises Ship VII Ltd.† | 5.625% | 2/15/2029 | 4,600,000 | 4,480,701 | ||||||||
Total | 322,858,650 | |||||||||||
Lodging 1.54% | ||||||||||||
Genting New York LLC/GENNY Capital, Inc.† | 3.30% | 2/15/2026 | 27,745,000 | 26,631,630 | ||||||||
Hilton Domestic Operating Co., Inc.† | 3.75% | 5/1/2029 | 25,286,000 | 23,215,780 |
See Notes to Schedule of Investments. | 21 |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Lodging (continued) | ||||||||||||
Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Escrow, Inc.† | 6.625% | 1/15/2032 | $ | 25,419,000 | $ | 25,540,299 | ||||||
Las Vegas Sands Corp. | 3.50% | 8/18/2026 | 18,873,000 | 17,876,666 | ||||||||
Marriott International, Inc. | 3.50% | 10/15/2032 | 23,858,000 | 20,925,751 | ||||||||
MGM China Holdings Ltd. (Macau)†(d) | 5.875% | 5/15/2026 | 23,450,000 | 23,174,711 | ||||||||
Sands China Ltd. (Macau)(d) | 2.85% | 3/8/2029 | 57,502,000 | 50,014,573 | ||||||||
Sands China Ltd. (Macau)(d) | 4.625% | 6/18/2030 | 35,200,000 | 32,306,842 | ||||||||
Sands China Ltd. (Macau)(d) | 5.40% | 8/8/2028 | 25,193,000 | 24,722,838 | ||||||||
Studio City Finance Ltd. (Hong Kong)(d) | 5.00% | 1/15/2029 | 24,221,000 | 21,330,599 | ||||||||
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.† | 5.25% | 5/15/2027 | 37,094,000 | 36,354,093 | ||||||||
Wynn Macau Ltd. (Macau)†(d) | 5.50% | 10/1/2027 | 23,813,000 | 22,812,990 | ||||||||
Total | 324,906,772 | |||||||||||
Machinery: Construction & Mining 0.08% | ||||||||||||
Vertiv Group Corp.† | 4.125% | 11/15/2028 | 18,160,000 | 16,917,344 | ||||||||
Machinery-Diversified 0.70% | ||||||||||||
Husky Injection Molding Systems Ltd./Titan Co.-Borrower LLC (Canada)†(d) | 9.00% | 2/15/2029 | 11,049,000 | 11,439,781 | ||||||||
nVent Finance SARL (Luxembourg)(d) | 2.75% | 11/15/2031 | 20,244,000 | 16,714,053 | ||||||||
nVent Finance SARL (Luxembourg)(d) | 5.65% | 5/15/2033 | 36,050,000 | 36,356,028 | ||||||||
SPX FLOW, Inc.† | 8.75% | 4/1/2030 | 17,647,000 | 17,838,717 | ||||||||
TK Elevator U.S. Newco, Inc.† | 5.25% | 7/15/2027 | 46,174,000 | 44,660,633 | ||||||||
Westinghouse Air Brake Technologies Corp. | 5.611% | 3/11/2034 | 19,961,000 | 20,226,705 | ||||||||
Total | 147,235,917 | |||||||||||
Media 2.97% | ||||||||||||
AMC Networks, Inc. | 4.25% | 2/15/2029 | 27,786,000 | 19,713,255 | ||||||||
AMC Networks, Inc.†(b) | 10.25% | 1/15/2029 | 16,597,000 | 16,727,867 | ||||||||
CCO Holdings LLC/CCO Holdings Capital Corp.† | 5.00% | 2/1/2028 | 34,678,000 | 32,304,638 | ||||||||
CCO Holdings LLC/CCO Holdings Capital Corp.† | 5.375% | 6/1/2029 | 44,402,000 | 40,679,239 | ||||||||
CCO Holdings LLC/CCO Holdings Capital Corp.† | 6.375% | 9/1/2029 | 32,585,000 | 30,935,961 | ||||||||
CCO Holdings LLC/CCO Holdings Capital Corp.† | 7.375% | 3/1/2031 | 41,519,000 | 40,742,923 | ||||||||
CSC Holdings LLC† | 4.125% | 12/1/2030 | 9,124,000 | 6,531,325 | ||||||||
CSC Holdings LLC† | 5.375% | 2/1/2028 | 15,464,000 | 13,314,236 | ||||||||
CSC Holdings LLC† | 6.50% | 2/1/2029 | 17,012,000 | 14,428,825 | ||||||||
CSC Holdings LLC† | 11.75% | 1/31/2029 | 25,157,000 | 25,211,959 | ||||||||
DISH DBS Corp. | 5.875% | 11/15/2024 | 32,829,000 | 31,482,010 | ||||||||
DISH Network Corp.† | 11.75% | 11/15/2027 | 96,038,000 | 98,142,288 |
22 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Media (continued) | ||||||||||||
FactSet Research Systems, Inc. | 3.45% | 3/1/2032 | $ | 23,698,000 | $ | 20,944,545 | ||||||
Gray Television, Inc.† | 5.375% | 11/15/2031 | 29,785,000 | 19,559,047 | ||||||||
LCPR Senior Secured Financing DAC (Ireland)†(d) | 6.75% | 10/15/2027 | 22,575,000 | 21,208,953 | ||||||||
News Corp.† | 3.875% | 5/15/2029 | 21,928,000 | 20,070,418 | ||||||||
Nexstar Media, Inc.† | 4.75% | 11/1/2028 | 25,187,000 | 22,973,801 | ||||||||
Nexstar Media, Inc.† | 5.625% | 7/15/2027 | 23,466,000 | 22,527,473 | ||||||||
Sunrise FinCo I BV (Netherlands)†(d) | 4.875% | 7/15/2031 | 53,571,000 | 47,862,893 | ||||||||
Univision Communications, Inc.† | 4.50% | 5/1/2029 | 40,601,000 | 36,318,987 | ||||||||
VZ Secured Financing BV (Netherlands)†(d) | 5.00% | 1/15/2032 | 49,172,000 | 42,266,943 | ||||||||
Total | 623,947,586 | |||||||||||
Metal Fabricate-Hardware 0.20% | ||||||||||||
Roller Bearing Co. of America, Inc.† | 4.375% | 10/15/2029 | 46,574,000 | 42,702,275 | ||||||||
Mining 1.84% | ||||||||||||
Alcoa Nederland Holding BV (Netherlands)†(d) | 7.125% | 3/15/2031 | 9,831,000 | 10,026,676 | ||||||||
Anglo American Capital PLC (United Kingdom)†(d) | 5.625% | 4/1/2030 | 22,140,000 | 22,474,668 | ||||||||
First Quantum Minerals Ltd. (Canada)†(d) | 8.625% | 6/1/2031 | 25,446,000 | 24,767,368 | ||||||||
First Quantum Minerals Ltd. (Canada)†(d) | 9.375% | 3/1/2029 | 6,851,000 | 7,105,617 | ||||||||
FMG Resources August 2006 Pty. Ltd. (Australia)†(d) | 4.375% | 4/1/2031 | 59,000,000 | 52,771,128 | ||||||||
FMG Resources August 2006 Pty. Ltd. (Australia)†(d) | 6.125% | 4/15/2032 | 28,083,000 | 27,797,797 | ||||||||
Freeport Indonesia PT (Indonesia)(d) | 6.20% | 4/14/2052 | 31,767,000 | 31,604,928 | ||||||||
Freeport-McMoRan, Inc. | 5.40% | 11/14/2034 | 34,970,000 | 34,574,731 | ||||||||
Glencore Funding LLC† | 2.50% | 9/1/2030 | 19,663,000 | 16,706,106 | ||||||||
Hecla Mining Co. | 7.25% | 2/15/2028 | 25,372,000 | 25,434,767 | ||||||||
Kaiser Aluminum Corp.† | 4.50% | 6/1/2031 | 29,297,000 | 25,948,198 | ||||||||
Kinross Gold Corp. (Canada)†(d) | 6.25% | 7/15/2033 | 36,065,000 | 37,438,037 | ||||||||
Mirabela Nickel Ltd. | Zero Coupon | 9/10/2044 | 185,297 | – | (f) | |||||||
Novelis Corp.† | 4.75% | 1/30/2030 | 36,313,000 | 33,533,519 | ||||||||
WE Soda Investments Holding PLC (United Kingdom)†(d) | 9.50% | 10/6/2028 | 35,318,000 | 36,763,707 | ||||||||
Total | 386,947,247 | |||||||||||
Oil & Gas 9.06% | ||||||||||||
Antero Resources Corp.† | 5.375% | 3/1/2030 | 97,896,000 | 94,103,529 | ||||||||
Apache Corp. | 4.25% | 1/15/2030 | 22,054,000 | 20,437,830 |
See Notes to Schedule of Investments. | 23 |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Oil & Gas (continued) | ||||||||||||
Apache Corp. | 4.75% | 4/15/2043 | $ | 46,044,000 | $ | 36,333,818 | ||||||
Apache Corp. | 5.10% | 9/1/2040 | 49,056,000 | 42,131,839 | ||||||||
Baytex Energy Corp. (Canada)†(d) | 8.50% | 4/30/2030 | 22,755,000 | 23,780,640 | ||||||||
Borr IHC Ltd./Borr Finance LLC† | 10.00% | 11/15/2028 | 27,320,000 | 28,529,538 | ||||||||
BP Capital Markets PLC (United Kingdom)(d) | 6.45% (5 yr. CMT + 2.15%) | # | – | (h) | 9,014,000 | 9,357,334 | ||||||
Cenovus Energy, Inc. (Canada)(d) | 3.75% | 2/15/2052 | 15,891,000 | 11,694,349 | ||||||||
Cenovus Energy, Inc. (Canada)(d) | 5.40% | 6/15/2047 | 71,382,000 | 67,505,012 | ||||||||
Chesapeake Energy Corp.† | 6.75% | 4/15/2029 | 19,198,000 | 19,419,238 | ||||||||
CITGO Petroleum Corp.† | 7.00% | 6/15/2025 | 22,960,000 | 22,945,721 | ||||||||
CITGO Petroleum Corp.† | 8.375% | 1/15/2029 | 28,033,000 | 29,477,008 | ||||||||
Civitas Resources, Inc.† | 8.625% | 11/1/2030 | 19,449,000 | 20,897,211 | ||||||||
Civitas Resources, Inc.† | 8.75% | 7/1/2031 | 26,928,000 | 28,848,236 | ||||||||
Comstock Resources, Inc.† | 6.75% | 3/1/2029 | 36,417,000 | 34,761,582 | ||||||||
Continental Resources, Inc. | 4.375% | 1/15/2028 | 21,473,000 | 20,758,392 | ||||||||
Continental Resources, Inc.† | 5.75% | 1/15/2031 | 33,154,000 | 32,977,833 | ||||||||
Cosan Luxembourg SA (Luxembourg)†(d) | 7.25% | 6/27/2031 | 22,811,000 | 23,311,382 | ||||||||
Crescent Energy Finance LLC† | 7.625% | 4/1/2032 | 16,919,000 | 17,061,464 | ||||||||
Crescent Energy Finance LLC† | 9.25% | 2/15/2028 | 20,444,000 | 21,603,809 | ||||||||
Diamond Foreign Asset Co./Diamond Finance LLC (Cayman Islands)†(d) | 8.50% | 10/1/2030 | 20,793,000 | 21,960,173 | ||||||||
Ecopetrol SA (Colombia)(d) | 5.875% | 5/28/2045 | 59,957,000 | 44,812,252 | ||||||||
Encino Acquisition Partners Holdings LLC† | 8.50% | 5/1/2028 | 33,746,000 | 34,137,285 | ||||||||
Helmerich & Payne, Inc. | 2.90% | 9/29/2031 | 26,951,000 | 22,648,230 | ||||||||
Kosmos Energy Ltd.† | 7.75% | 5/1/2027 | 43,319,000 | 42,803,374 | ||||||||
Marathon Oil Corp. | 5.70% | 4/1/2034 | 28,150,000 | 28,160,295 | ||||||||
Matador Resources Co.†(b) | 6.50% | 4/15/2032 | 22,263,000 | 22,317,829 | ||||||||
Matador Resources Co.† | 6.875% | 4/15/2028 | 43,709,000 | 44,750,367 | ||||||||
MC Brazil Downstream Trading SARL (Luxembourg)†(d) | 7.25% | 6/30/2031 | 41,291,326 | 37,408,798 | ||||||||
MEG Energy Corp. (Canada)†(d) | 5.875% | 2/1/2029 | 57,133,000 | 56,190,220 | ||||||||
Murphy Oil Corp. | 6.375% | 7/15/2028 | 17,033,000 | 17,158,908 | ||||||||
Nabors Industries, Inc.† | 7.375% | 5/15/2027 | 22,606,000 | 22,582,686 | ||||||||
Noble Finance II LLC† | 8.00% | 4/15/2030 | 19,533,000 | 20,360,027 | ||||||||
Occidental Petroleum Corp. | 6.125% | 1/1/2031 | 20,079,000 | 20,813,289 | ||||||||
Occidental Petroleum Corp. | 6.625% | 9/1/2030 | 19,846,000 | 21,047,874 | ||||||||
Occidental Petroleum Corp. | 7.50% | 5/1/2031 | 18,501,000 | 20,605,637 | ||||||||
Occidental Petroleum Corp. | 8.875% | 7/15/2030 | 17,825,000 | 20,723,972 |
24 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Oil & Gas (continued) | ||||||||||||
OGX Austria GmbH (Brazil)†(d)(i) | 8.50% | 6/1/2018 | $ | 20,000,000 | $ | 400 | ||||||
Ovintiv, Inc. | 6.50% | 2/1/2038 | 35,442,000 | 36,962,551 | ||||||||
Patterson-UTI Energy, Inc. | 5.15% | 11/15/2029 | 29,814,000 | 29,191,785 | ||||||||
Patterson-UTI Energy, Inc. | 7.15% | 10/1/2033 | 23,666,000 | 25,458,068 | ||||||||
Permian Resources Operating LLC† | 6.875% | 4/1/2027 | 19,848,000 | 19,867,868 | ||||||||
Petroleos Mexicanos (Mexico)(d) | 5.35% | 2/12/2028 | 30,987,000 | 27,473,514 | ||||||||
Petroleos Mexicanos (Mexico)(d) | 10.00% | 2/7/2033 | 42,742,000 | 42,595,378 | ||||||||
Precision Drilling Corp. (Canada)†(d) | 6.875% | 1/15/2029 | 25,184,000 | 25,160,629 | ||||||||
Raizen Fuels Finance SA (Luxembourg)†(d) | 6.45% | 3/5/2034 | 12,011,000 | 12,330,649 | ||||||||
Range Resources Corp.† | 4.75% | 2/15/2030 | 54,135,000 | 50,518,787 | ||||||||
Rockcliff Energy II LLC† | 5.50% | 10/15/2029 | 26,449,000 | 24,775,188 | ||||||||
Seadrill Finance Ltd.† | 8.375% | 8/1/2030 | 21,159,000 | 22,217,881 | ||||||||
SM Energy Co. | 6.625% | 1/15/2027 | 87,786,000 | 87,768,074 | ||||||||
Southwestern Energy Co. | 5.375% | 2/1/2029 | 17,132,000 | 16,654,514 | ||||||||
Southwestern Energy Co. | 5.375% | 3/15/2030 | 34,107,000 | 32,858,373 | ||||||||
Suncor Energy, Inc. (Canada)(d) | 7.15% | 2/1/2032 | 28,398,000 | 31,480,684 | ||||||||
Talos Production, Inc.† | 9.00% | 2/1/2029 | 16,303,000 | 17,325,573 | ||||||||
Transocean, Inc.† | 8.75% | 2/15/2030 | 54,468,000 | 56,828,425 | ||||||||
Vermilion Energy, Inc. (Canada)†(d) | 6.875% | 5/1/2030 | 20,774,000 | 20,301,775 | ||||||||
Viper Energy, Inc.† | 5.375% | 11/1/2027 | 37,638,000 | 36,867,513 | ||||||||
Viper Energy, Inc.† | 7.375% | 11/1/2031 | 15,232,000 | 15,848,611 | ||||||||
Vital Energy, Inc.† | 7.75% | 7/31/2029 | 35,741,000 | 36,064,313 | ||||||||
Vital Energy, Inc.† | 7.875% | 4/15/2032 | 26,047,000 | 26,480,756 | ||||||||
Vital Energy, Inc. | 9.75% | 10/15/2030 | 11,987,000 | 13,118,729 | ||||||||
Vital Energy, Inc. | 10.125% | 1/15/2028 | 69,305,000 | 72,772,260 | ||||||||
YPF SA (Argentina)(d) | 9.50% | 1/17/2031 | 20,439,000 | 20,904,641 | ||||||||
Total | 1,906,243,920 | |||||||||||
Oil & Gas Services 0.69% | ||||||||||||
Kodiak Gas Services LLC† | 7.25% | 2/15/2029 | 20,572,000 | 20,968,072 | ||||||||
Oceaneering International, Inc. | 6.00% | 2/1/2028 | 38,139,000 | 37,605,227 | ||||||||
USA Compression Partners LP/USA Compression Finance Corp. | 6.875% | 9/1/2027 | 27,040,000 | 27,121,228 | ||||||||
USA Compression Partners LP/USA Compression Finance Corp.† | 7.125% | 3/15/2029 | 16,836,000 | 17,056,397 | ||||||||
Weatherford International Ltd.† | 8.625% | 4/30/2030 | 41,472,000 | 43,329,697 | ||||||||
Total | 146,080,621 |
See Notes to Schedule of Investments. | 25 |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Packaging & Containers 0.88% | ||||||||||||
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc. (Ireland)†(d) | 4.125% | 8/15/2026 | $ | 22,644,000 | $ | 20,513,630 | ||||||
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc. (Ireland)†(d) | 5.25% | 8/15/2027 | 12,393,000 | 7,820,912 | ||||||||
LABL, Inc.† | 6.75% | 7/15/2026 | 19,868,000 | 19,644,775 | ||||||||
LABL, Inc.† | 10.50% | 7/15/2027 | 8,001,000 | 7,941,960 | ||||||||
Mauser Packaging Solutions Holding Co.† | 7.875% | 8/15/2026 | 38,298,000 | 39,044,849 | ||||||||
Mauser Packaging Solutions Holding Co.† | 9.25% | 4/15/2027 | 22,571,000 | 22,416,727 | ||||||||
Owens-Brockway Glass Container, Inc.† | 7.25% | 5/15/2031 | 21,876,000 | 22,308,095 | ||||||||
Sealed Air Corp.† | 6.875% | 7/15/2033 | 22,562,000 | 23,533,926 | ||||||||
Trivium Packaging Finance BV (Netherlands)†(d) | 5.50% | 8/15/2026 | 22,373,000 | 22,079,075 | ||||||||
Total | 185,303,949 | |||||||||||
Pharmaceuticals 0.54% | ||||||||||||
BellRing Brands, Inc.† | 7.00% | 3/15/2030 | 31,670,000 | 32,659,117 | ||||||||
Organon & Co./Organon Foreign Debt Co.-Issuer BV† | 5.125% | 4/30/2031 | 23,646,000 | 21,041,095 | ||||||||
Owens & Minor, Inc.† | 4.50% | 3/31/2029 | 10,002,000 | 9,168,077 | ||||||||
Owens & Minor, Inc.† | 6.625% | 4/1/2030 | 11,634,000 | 11,556,739 | ||||||||
Perrigo Finance Unlimited Co. (Ireland)(d) | 4.65% | 6/15/2030 | 24,024,000 | 22,104,682 | ||||||||
Teva Pharmaceutical Finance Netherlands III BV (Netherlands)(d) | 3.15% | 10/1/2026 | 18,678,000 | 17,476,842 | ||||||||
Total | 114,006,552 | |||||||||||
Pipelines 3.34% | ||||||||||||
AI Candelaria Spain SA (Spain)†(d) | 5.75% | 6/15/2033 | 30,777,000 | 25,001,973 | ||||||||
AI Candelaria Spain SA (Spain)(d) | 5.75% | 6/15/2033 | 19,229,000 | 15,620,851 | ||||||||
AI Candelaria Spain SA (Spain)(d) | 5.75% | 6/15/2033 | 4,247,000 | 3,450,089 | ||||||||
AI Candelaria Spain SA (Spain)†(d) | 7.50% | 12/15/2028 | 20,943,682 | 20,527,142 | ||||||||
Boardwalk Pipelines LP | 5.625% | 8/1/2034 | 31,480,000 | 31,506,212 | ||||||||
Cheniere Energy Partners LP | 3.25% | 1/31/2032 | 30,486,000 | 25,993,111 | ||||||||
Colonial Enterprises, Inc.† | 3.25% | 5/15/2030 | 19,028,000 | 17,185,666 | ||||||||
Columbia Pipelines Operating Co. LLC† | 5.927% | 8/15/2030 | 12,880,000 | 13,219,923 | ||||||||
CQP Holdco LP/BIP-V Chinook Holdco LLC† | 5.50% | 6/15/2031 | 47,805,000 | 45,219,524 | ||||||||
Delek Logistics Partners LP/Delek Logistics Finance Corp.† | 8.625% | 3/15/2029 | 30,918,000 | 31,593,218 | ||||||||
DT Midstream, Inc.† | 4.30% | 4/15/2032 | 27,064,000 | 24,612,234 | ||||||||
EnLink Midstream LLC† | 6.50% | 9/1/2030 | 30,196,000 | 31,093,153 | ||||||||
EQM Midstream Partners LP† | 6.375% | 4/1/2029 | 19,742,000 | 19,902,494 | ||||||||
EQM Midstream Partners LP† | 6.50% | 7/1/2027 | 30,292,000 | 30,586,862 |
26 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Pipelines (continued) | ||||||||||||
Hess Midstream Operations LP† | 5.125% | 6/15/2028 | $ | 17,974,000 | $ | 17,407,201 | ||||||
Kinder Morgan, Inc. | 5.20% | 6/1/2033 | 20,771,000 | 20,466,629 | ||||||||
NGPL PipeCo LLC† | 3.25% | 7/15/2031 | 24,487,000 | 20,935,201 | ||||||||
NGPL PipeCo LLC† | 4.875% | 8/15/2027 | 24,928,000 | 24,330,517 | ||||||||
ONEOK, Inc. | 3.95% | 3/1/2050 | 15,796,000 | 11,660,085 | ||||||||
ONEOK, Inc. | 4.45% | 9/1/2049 | 22,523,000 | 18,331,777 | ||||||||
ONEOK, Inc. | 6.05% | 9/1/2033 | 31,558,000 | 32,928,803 | ||||||||
Sabal Trail Transmission LLC† | 4.246% | 5/1/2028 | 16,996,000 | 16,449,728 | ||||||||
Venture Global Calcasieu Pass LLC† | 3.875% | 8/15/2029 | 26,406,000 | 23,793,314 | ||||||||
Venture Global LNG, Inc.† | 8.125% | 6/1/2028 | 13,276,000 | 13,552,287 | ||||||||
Venture Global LNG, Inc.† | 8.375% | 6/1/2031 | 23,884,000 | 24,645,756 | ||||||||
Venture Global LNG, Inc.† | 9.50% | 2/1/2029 | 24,103,000 | 25,994,796 | ||||||||
Western Midstream Operating LP | 4.05% | 2/1/2030 | 70,590,000 | 65,906,466 | ||||||||
Western Midstream Operating LP | 6.35% | 1/15/2029 | 20,497,000 | 21,273,775 | ||||||||
Williams Cos., Inc. | 5.65% | 3/15/2033 | 28,111,000 | 28,852,917 | ||||||||
Total | 702,041,704 | |||||||||||
Real Estate 0.33% | ||||||||||||
Cushman & Wakefield U.S. Borrower LLC† | 6.75% | 5/15/2028 | 21,071,000 | 20,823,801 | ||||||||
Hunt Cos., Inc.† | 5.25% | 4/15/2029 | 39,175,000 | 35,871,427 | ||||||||
Newmark Group, Inc.† | 7.50% | 1/12/2029 | 11,554,000 | 11,892,902 | ||||||||
Total | 68,588,130 | |||||||||||
REITS 1.31% | ||||||||||||
Brixmor Operating Partnership LP | 5.50% | 2/15/2034 | 22,470,000 | 22,198,675 | ||||||||
EPR Properties | 3.60% | 11/15/2031 | 6,279,000 | 5,252,189 | ||||||||
EPR Properties | 3.75% | 8/15/2029 | 4,447,000 | 3,931,687 | ||||||||
GLP Capital LP/GLP Financing II, Inc. | 4.00% | 1/15/2030 | 26,711,000 | 24,402,702 | ||||||||
GLP Capital LP/GLP Financing II, Inc. | 4.00% | 1/15/2031 | 19,738,000 | 17,626,158 | ||||||||
GLP Capital LP/GLP Financing II, Inc. | 5.75% | 6/1/2028 | 17,444,000 | 17,470,672 | ||||||||
Goodman U.S. Finance Five LLC† | 4.625% | 5/4/2032 | 22,454,000 | 20,627,586 | ||||||||
Kite Realty Group LP | 5.50% | 3/1/2034 | 8,988,000 | 8,934,640 | ||||||||
Rayonier LP | 2.75% | 5/17/2031 | 45,499,000 | 37,589,867 | ||||||||
Regency Centers LP | 5.25% | 1/15/2034 | 13,482,000 | 13,435,761 | ||||||||
Retail Opportunity Investments Partnership LP | 6.75% | 10/15/2028 | 22,536,000 | 23,354,916 | ||||||||
VICI Properties LP/VICI Note Co., Inc.† | 4.625% | 6/15/2025 | 18,854,000 | 18,581,066 | ||||||||
VICI Properties LP/VICI Note Co., Inc.† | 4.625% | 12/1/2029 | 65,109,000 | 61,615,883 | ||||||||
Total | 275,021,802 |
See Notes to Schedule of Investments. | 27 |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Retail 2.37% | ||||||||||||
1011778 BC ULC/New Red Finance, Inc. (Canada)†(d) | 4.00% | 10/15/2030 | $ | 25,190,000 | $ | 22,462,470 | ||||||
Advance Auto Parts, Inc. | 3.50% | 3/15/2032 | 27,892,000 | 23,931,563 | ||||||||
Advance Auto Parts, Inc. | 3.90% | 4/15/2030 | 25,324,000 | 22,980,416 | ||||||||
Alimentation Couche-Tard, Inc. (Canada)†(d) | 5.267% | 2/12/2034 | 15,738,000 | 15,703,848 | ||||||||
Bath & Body Works, Inc. | 5.25% | 2/1/2028 | 20,650,000 | 20,238,997 | ||||||||
Carvana Co.† | 13.00% | 6/1/2030 | 22,535,000 | 21,997,425 | ||||||||
Dick’s Sporting Goods, Inc. | 4.10% | 1/15/2052 | 42,397,000 | 30,766,809 | ||||||||
Gap, Inc.† | 3.875% | 10/1/2031 | 51,042,000 | 43,228,782 | ||||||||
Global Auto Holdings Ltd./AAG FH U.K. Ltd. (United Kingdom)†(d) | 8.375% | 1/15/2029 | 28,573,000 | 27,947,683 | ||||||||
Global Auto Holdings Ltd./AAG FH U.K. Ltd. (United Kingdom)†(d) | 8.75% | 1/15/2032 | 14,531,000 | 14,074,071 | ||||||||
LBM Acquisition LLC† | 6.25% | 1/15/2029 | 23,913,000 | 22,443,962 | ||||||||
Murphy Oil USA, Inc. | 4.75% | 9/15/2029 | 25,575,000 | 24,275,987 | ||||||||
NMG Holding Co., Inc./Neiman Marcus Group LLC† | 7.125% | 4/1/2026 | 21,356,000 | 20,932,602 | ||||||||
PetSmart, Inc./PetSmart Finance Corp.† | 4.75% | 2/15/2028 | 17,685,000 | 16,574,568 | ||||||||
PetSmart, Inc./PetSmart Finance Corp.† | 7.75% | 2/15/2029 | 36,558,000 | 35,619,639 | ||||||||
SRS Distribution, Inc.† | 4.625% | 7/1/2028 | 29,451,000 | 29,696,356 | ||||||||
Staples, Inc.† | 7.50% | 4/15/2026 | 22,138,000 | 21,627,425 | ||||||||
Staples, Inc.† | 10.75% | 4/15/2027 | 24,782,000 | 23,579,062 | ||||||||
Stonegate Pub Co. Financing 2019 PLC | 8.25% | 7/31/2025 | GBP | 27,584,000 | 33,792,445 | |||||||
Tiffany & Co. | 4.90% | 10/1/2044 | $ | 15,113,000 | 14,313,694 | |||||||
White Cap Buyer LLC† | 6.875% | 10/15/2028 | 13,707,000 | 13,460,385 | ||||||||
Total | 499,648,189 | |||||||||||
Savings & Loans 0.00% | ||||||||||||
Washington Mutual Bank/Debt not acquired by JPMorgan(i) | 6.875% | 6/15/2011 | 22,500,000 | – | (f)(j) | |||||||
Semiconductors 0.84% | ||||||||||||
Entegris, Inc.† | 4.75% | 4/15/2029 | 21,642,000 | 20,764,653 | ||||||||
Marvell Technology, Inc. | 5.95% | 9/15/2033 | 21,787,000 | 22,588,436 | ||||||||
Micron Technology, Inc. | 5.30% | 1/15/2031 | 12,583,000 | 12,660,394 | ||||||||
ON Semiconductor Corp.† | 3.875% | 9/1/2028 | 23,433,000 | 21,552,598 | ||||||||
Qorvo, Inc.† | 3.375% | 4/1/2031 | 22,864,000 | 19,683,933 | ||||||||
Qorvo, Inc. | 4.375% | 10/15/2029 | 21,594,000 | 20,259,778 | ||||||||
SK Hynix, Inc. (South Korea)†(d) | 5.50% | 1/16/2029 | 26,457,000 | 26,403,679 | ||||||||
SK Hynix, Inc. (South Korea)(d) | 6.50% | 1/17/2033 | 31,457,000 | 33,540,689 | ||||||||
Total | 177,454,160 |
28 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Shipbuilding 0.15% | ||||||||||||
Huntington Ingalls Industries, Inc. | 4.20% | 5/1/2030 | $ | 32,665,000 | $ | 30,653,911 | ||||||
Software 1.77% | ||||||||||||
AthenaHealth Group, Inc.† | 6.50% | 2/15/2030 | 37,901,000 | 34,704,191 | ||||||||
Cloud Software Group, Inc.† | 6.50% | 3/31/2029 | 41,497,000 | 39,413,498 | ||||||||
Cloud Software Group, Inc.† | 9.00% | 9/30/2029 | 68,784,000 | 66,037,606 | ||||||||
Constellation Software, Inc. (Canada)†(d) | 5.461% | 2/16/2034 | 13,516,000 | 13,610,789 | ||||||||
Intuit, Inc. | 5.50% | 9/15/2053 | 20,897,000 | 21,708,384 | ||||||||
MSCI, Inc.† | 3.25% | 8/15/2033 | 31,224,000 | 25,753,012 | ||||||||
MSCI, Inc.† | 3.875% | 2/15/2031 | 66,243,000 | 59,128,316 | ||||||||
MSCI, Inc.† | 4.00% | 11/15/2029 | 39,348,000 | 36,414,060 | ||||||||
ROBLOX Corp.† | 3.875% | 5/1/2030 | 25,180,000 | 22,201,274 | ||||||||
Roper Technologies, Inc. | 1.75% | 2/15/2031 | 18,251,000 | 14,701,704 | ||||||||
Twilio, Inc. | 3.625% | 3/15/2029 | 14,538,000 | 13,089,626 | ||||||||
Twilio, Inc. | 3.875% | 3/15/2031 | 13,736,000 | 12,003,888 | ||||||||
Workday, Inc. | 3.80% | 4/1/2032 | 15,788,000 | 14,384,210 | ||||||||
Total | 373,150,558 | |||||||||||
Telecommunications 1.99% | ||||||||||||
Altice France SA (France)†(d) | 5.50% | 10/15/2029 | 27,368,000 | 18,604,438 | ||||||||
Altice France SA (France)†(d) | 8.125% | 2/1/2027 | 45,191,000 | 35,363,686 | ||||||||
Connect Finco SARL/Connect U.S. Finco LLC (Luxembourg)†(d) | 6.75% | 10/1/2026 | 27,239,000 | 26,720,236 | ||||||||
Frontier Communications Holdings LLC† | 5.875% | 10/15/2027 | 47,940,000 | 46,450,336 | ||||||||
Frontier Communications Holdings LLC† | 6.00% | 1/15/2030 | 1,190,000 | 1,009,272 | ||||||||
Frontier Communications Holdings LLC† | 6.75% | 5/1/2029 | 57,642,000 | 51,433,086 | ||||||||
Frontier Communications Holdings LLC† | 8.75% | 5/15/2030 | 45,349,000 | 46,442,255 | ||||||||
Hughes Satellite Systems Corp. | 5.25% | 8/1/2026 | 34,012,000 | 28,334,625 | ||||||||
Level 3 Financing, Inc.† | 11.00% | 11/15/2029 | 14,668,393 | 15,273,464 | ||||||||
Lumen Technologies, Inc.† | 4.125% | 4/15/2029 | 7,446,028 | 4,728,228 | ||||||||
Lumen Technologies, Inc.† | 4.125% | 4/15/2030 | 7,446,029 | 4,653,768 | ||||||||
Sprint Capital Corp. | 6.875% | 11/15/2028 | 48,110,000 | 51,306,044 | ||||||||
Vmed O2 U.K. Financing I PLC (United Kingdom)†(d) | 4.25% | 1/31/2031 | 79,166,000 | 67,101,252 | ||||||||
Vmed O2 U.K. Financing I PLC (United Kingdom)†(d) | 4.75% | 7/15/2031 | 24,505,000 | 21,144,363 | ||||||||
Total | 418,565,053 |
See Notes to Schedule of Investments. | 29 |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Transportation 0.26% | ||||||||||||
Central Japan Railway Co. (Japan)†(d) | 4.25% | 11/24/2045 | $ | 18,040,000 | $ | 15,485,198 | ||||||
Rand Parent LLC† | 8.50% | 2/15/2030 | 20,809,000 | 20,636,806 | ||||||||
XPO, Inc.† | 7.125% | 2/1/2032 | 18,350,000 | 18,903,197 | ||||||||
Total | 55,025,201 | |||||||||||
Trucking & Leasing 0.16% | ||||||||||||
Fortress Transportation & Infrastructure Investors LLC† | 5.50% | 5/1/2028 | 35,638,000 | 34,568,828 | ||||||||
Total Corporate Bonds (cost $14,827,919,004) | 14,576,067,439 | |||||||||||
FLOATING RATE LOANS(k) 4.20% | ||||||||||||
Aerospace/Defense 0.12% | ||||||||||||
Alloy Finco Ltd. 2020 USD Term Loan B2 (Jersey)(d) | 12.072% (3 mo. USD Term SOFR + 6.50%) | 12/6/2024 | 8,102,769 | 8,092,641 | ||||||||
Alloy Finco Ltd. USD Holdco PIK Term Loan 13.50% (Jersey)(d) | 0.50% | 3/6/2025 | 19,392,179 | 16,495,472 | ||||||||
Total | 24,588,113 | |||||||||||
Automotive 0.11% | ||||||||||||
DexKo Global, Inc. 2021 USD Term Loan B | 9.321% (3 mo. USD Term SOFR + 3.75%) | 10/4/2028 | 23,188,024 | 22,999,622 | ||||||||
Beverages 0.10% | ||||||||||||
Triton Water Holdings, Inc. Term Loan | 8.562% (3 mo. USD Term SOFR + 3.25%) | 3/31/2028 | 21,012,988 | 20,818,723 | ||||||||
Building Materials 0.34% | ||||||||||||
ACProducts, Inc. 2021 Term Loan B | 9.814% (3 mo. USD Term SOFR + 4.25%) | 5/17/2028 | 6,361,699 | 5,822,959 | ||||||||
CP Atlas Buyer, Inc. 2021 Term Loan B | 9.18% (1 mo. USD Term SOFR + 3.75%) | 11/23/2027 | 17,926,476 | 17,744,881 | ||||||||
MI Windows and Doors LLC 2024 Term Loan B2 | – | (l) | 3/21/2031 | 9,110,000 | 9,164,113 | |||||||
Quikrete Holdings, Inc. 2024 Term Loan B | – | (l) | 3/25/2031 | 19,133,000 | 19,164,952 | |||||||
Quikrete Holdings, Inc. 2024 Term Loan B1 | – | (l) | 3/19/2029 | 19,133,000 | 19,164,570 | |||||||
Total | 71,061,475 |
30 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Chemicals 0.10% | ||||||||||||
Iris Holding, Inc. Term Loan | 10.163% (3 mo. USD Term SOFR + 4.75%) | 6/28/2028 | $ | 22,064,985 | $ | 21,145,537 | ||||||
Construction & Engineering 0.10% | ||||||||||||
Brand Industrial Services, Inc. 2023 Term Loan B | 10.806% (3 mo. USD Term SOFR + 5.50%) | 8/1/2030 | 21,182,266 | 21,299,510 | ||||||||
Consumer Non-Durables 0.08% | ||||||||||||
Anastasia Parent LLC 2018 Term Loan B | 9.321% (3 mo. USD Term SOFR + 3.75%) | 8/11/2025 | 23,533,123 | 17,242,248 | ||||||||
Diversified Capital Goods 0.13% | ||||||||||||
CeramTec AcquiCo GmbH 2022 EUR Term Loan B | 7.452% (3 mo. EURIBOR + 3.50%) | 3/16/2029 | EUR | 25,074,401 | 26,781,000 | |||||||
Diversified Financial Services 0.15% | ||||||||||||
Jane Street Group LLC 2024 Term Loan B | 7.942% (1 mo. USD Term SOFR + 2.50%) | 1/26/2028 | $ | 31,917,526 | 31,969,392 | |||||||
Electric 0.00% | ||||||||||||
Helix Gen Funding LLC 2023 Term Loan | 10.059% (3 mo. USD Term SOFR + 4.75%) | 12/31/2027 | 7,210 | 7,263 | ||||||||
Electric: Generation 0.02% | ||||||||||||
Astoria Energy LLC 2020 Term Loan B | 8.942% (3 mo. USD Term SOFR + 3.50%) | 12/10/2027 | 517,030 | 518,645 | ||||||||
Frontera Generation Holdings LLC 2021 2nd Lien Term Loan | 7.064% (3 mo. USD Term SOFR + 1.50%) | 7/28/2028 | 1,720,948 | 1,049,778 | ||||||||
Frontera Generation Holdings LLC 2021 Term Loan | 18.564% (3 mo. USD Term SOFR + 13.00%) | 7/28/2026 | 1,773,053 | 2,081,121 | ||||||||
Total | 3,649,544 | |||||||||||
Entertainment 0.15% | ||||||||||||
Motion Finco SARL 2024 USD Term Loan B (Luxembourg)(d) | 9.071% (3 mo. USD Term SOFR + 3.50%) | 11/12/2029 | 31,875,000 | 31,863,047 |
See Notes to Schedule of Investments. | 31 |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Gas Distribution 0.11% | ||||||||||||
Freeport LNG Investments LLLP Term Loan B | 9.079% (3 mo. USD Term SOFR + 3.50%) | 12/21/2028 | $ | 22,447,233 | $ | 22,323,549 | ||||||
Health Care Products 0.21% | ||||||||||||
Bausch & Lomb Corp. Term Loan (Canada)(d) | 8.677% (1 mo. USD Term SOFR + 3.25%) | 5/10/2027 | 44,668,277 | 44,255,095 | ||||||||
Health Care Services 0.06% | ||||||||||||
Pacific Dental Services LLC 2024 Term Loan B | – | (l) | 3/7/2031 | 12,389,328 | 12,407,416 | |||||||
Healthcare 0.21% | ||||||||||||
Athenahealth Group, Inc. 2022 Term Loan B | 8.58% (1 mo. USD Term SOFR + 3.25%) | 2/15/2029 | 21,024,718 | 20,878,597 | ||||||||
eResearchTechnology, Inc. 2020 1st Lien Term Loan | 9.829% (1 mo. USD Term SOFR + 4.50%) | 2/4/2027 | 22,420,214 | 22,513,258 | ||||||||
Total | 43,391,855 | |||||||||||
Information Technology 0.30% | ||||||||||||
Cloud Software Group, Inc. 2022 USD Term Loan B | 9.909% (2 mo. USD Term SOFR + 4.50%) (3 mo. USD Term SOFR + 4.50%) | 3/30/2029 | 23,191,203 | 23,112,005 | ||||||||
McAfee LLC 2022 USD Term Loan B | 9.176% (1 mo. USD Term SOFR + 3.75%) | 3/1/2029 | 31,493,863 | 31,509,295 | ||||||||
Proofpoint, Inc. 1st Lien Term Loan | – | (l) | 8/31/2028 | 8,451,385 | 8,465,203 | |||||||
Total | 63,086,503 | |||||||||||
Machinery: Diversified 0.22% | ||||||||||||
LSF12 Badger Bidco LLC Term Loan B | 11.33% (1 mo. USD Term SOFR + 6.00%) | 8/30/2030 | 22,482,897 | 22,609,476 | ||||||||
SPX Flow, Inc. 2022 Term Loan | 9.927% (1 mo. USD Term SOFR + 4.50%) | 4/5/2029 | 22,593,694 | 22,714,909 | ||||||||
Total | 45,324,385 | |||||||||||
Manufacturing 0.02% | ||||||||||||
II-VI, Inc. 2022 Term Loan B | 8.195% (1 mo. USD Term SOFR + 2.75%) | 7/2/2029 | 4,007,902 | 4,020,928 |
32 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Media 0.34% | ||||||||||||
Cengage Learning, Inc. 2024 Term Loan B | 9.579% (3 mo. USD Term SOFR + 4.25%) | 3/15/2031 | $ | 20,010,000 | $ | 20,013,101 | ||||||
Sinclair Television Group, Inc. 2021 Term Loan B3 | 8.445% (1 mo. USD Term SOFR + 3.00%) | 4/1/2028 | 23,255,853 | 18,759,799 | ||||||||
Sinclair Television Group, Inc. 2022 Term Loan B4 | 9.18% (1 mo. USD Term SOFR + 3.75%) | 4/21/2029 | 1,257,165 | 1,009,403 | ||||||||
Virgin Media Bristol LLC 2023 USD Term Loan Y | 8.79% (6 mo. USD Term SOFR + 3.25%) | 3/31/2031 | 33,226,000 | 32,778,280 | ||||||||
Total | 72,560,583 | |||||||||||
Metal Fabricate/Hardware 0.20% | ||||||||||||
Crosby U.S. Acquisition Corp. 2024 Term Loan B | 9.327% (1 mo. USD Term SOFR + 4.00%) | 8/16/2029 | 21,025,776 | 21,168,121 | ||||||||
Tank Holding Corp. 2022 Term Loan | 11.177% (1 mo. USD Term SOFR + 5.75%) | 3/31/2028 | 21,877,328 | 21,662,055 | ||||||||
Total | 42,830,176 | |||||||||||
Oil & Gas 0.11% | ||||||||||||
Parkway Generation LLC Term Loan B | 10.324% (3 mo. USD Term SOFR + 4.75%) | 2/18/2029 | 19,834,271 | 19,814,437 | ||||||||
Parkway Generation LLC Term Loan C | 10.324% (3 mo. USD Term SOFR + 4.75%) | 2/18/2029 | 2,634,861 | 2,632,226 | ||||||||
Total | 22,446,663 | |||||||||||
Personal & Household Products 0.00% | ||||||||||||
FGI Operating Co. LLC Exit Term Loan | – | (l) | 5/16/2024 | 785,095 | 98,529 | (m) | ||||||
Real Estate 0.02% | ||||||||||||
Cushman & Wakefield U.S. Borrower LLC 2023 Term Loan B | 9.33% (1 mo. USD Term SOFR + 4.00%) | 1/31/2030 | 5,152,091 | 5,171,412 |
See Notes to Schedule of Investments. | 33 |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Retail 0.30% | ||||||||||||
IRB Holding Corp. 2024 Term Loan B | 8.177% (1 mo. USD Term SOFR + 2.75%) | 12/15/2027 | $ | 28,304,000 | $ | 28,343,909 | ||||||
Restoration Hardware, Inc. Term Loan B | 7.942% (1 mo. USD Term SOFR + 2.50%) | 10/20/2028 | 35,863,694 | 35,048,333 | ||||||||
Total | 63,392,242 | |||||||||||
Semiconductors 0.12% | ||||||||||||
MKS Instruments, Inc. 2023 USD Term Loan B | 7.823% (1 mo. USD Term SOFR + 2.50%) | 8/17/2029 | 26,333,813 | 26,385,954 | ||||||||
Service 0.10% | ||||||||||||
Brown Group Holding LLC 2022 Incremental Term Loan B2 | 8.327% (1 mo. USD Term SOFR + 3.00%) | 7/2/2029 | 21,491,161 | 21,516,736 | ||||||||
Software 0.33% | ||||||||||||
Applied Systems, Inc. 2024 1st Lien Term Loan | 8.809% (3 mo. USD Term SOFR + 3.50%) | 2/24/2031 | 22,501,908 | 22,662,684 | ||||||||
Banff Merger Sub, Inc. 2023 USD Term Loan | 9.58% (1 mo. USD Term SOFR + 4.25%) | 12/29/2028 | 21,959,918 | 22,126,923 | ||||||||
Project Alpha Intermediate Holding, Inc. 2023 1st Lien Term Loan B | 10.063% (3 mo. USD Term SOFR + 4.75%) | 10/28/2030 | 25,032,500 | 25,197,589 | ||||||||
Total | 69,987,196 | |||||||||||
Utilities 0.15% | ||||||||||||
Calpine Corp. 2024 Term Loan B10 | – | (l) | 1/31/2031 | 5,299,728 | 5,273,495 | |||||||
Calpine Corp. Term Loan B9 | – | (l) | 1/31/2031 | 26,179,272 | 26,061,988 | |||||||
Total | 31,335,483 | |||||||||||
Total Floating Rate Loans (cost $884,430,314) | 883,960,179 | |||||||||||
FOREIGN GOVERNMENT OBLIGATIONS 5.36% | ||||||||||||
Angola 0.26% | ||||||||||||
Angola Government International Bonds(d) | 9.375% | 5/8/2048 | 63,270,000 | 54,755,187 | ||||||||
Argentina 0.28% | ||||||||||||
Argentina Republic Government International Bonds(d) | 0.75% | (n) | 7/9/2030 | 112,506,166 | 59,211,995 |
34 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Benin 0.06% | ||||||||||||
Benin Government International Bonds†(d) | 7.96% | 2/13/2038 | $ | 12,038,000 | $ | 11,744,574 | ||||||
Brazil 0.20% | ||||||||||||
Brazil Notas do Tesouro Nacional | 10.00% | 1/1/2029 | BRL | 214,000,000 | 41,737,546 | |||||||
Colombia 0.16% | ||||||||||||
Colombia Government International Bonds(d) | 8.00% | 4/20/2033 | $ | 31,633,000 | 33,451,295 | |||||||
Costa Rica 0.27% | ||||||||||||
Costa Rica Government International Bonds†(d) | 7.158% | 3/12/2045 | 54,766,000 | 57,475,680 | ||||||||
Dominican Republic 0.43% | ||||||||||||
Dominican Republic International Bonds†(d) | 6.00% | 2/22/2033 | 93,178,000 | 90,707,251 | ||||||||
Ecuador 0.20% | ||||||||||||
Ecuador Government International Bonds†(d) | 6.00% | (n) | 7/31/2030 | 62,772,457 | 42,725,297 | |||||||
Egypt 0.12% | ||||||||||||
Egypt Government International Bonds(d) | 8.50% | 1/31/2047 | 4,553,000 | 3,623,551 | ||||||||
Egypt Government International Bonds(d) | 8.50% | 1/31/2047 | 27,034,000 | 21,515,279 | ||||||||
Total | 25,138,830 | |||||||||||
El Salvador 0.33% | ||||||||||||
El Salvador Government International Bonds(d) | 8.625% | 2/28/2029 | 80,692,000 | 70,384,650 | ||||||||
Gabon 0.13% | ||||||||||||
Gabon Government International Bonds(d) | 6.95% | 6/16/2025 | 8,745,000 | 8,594,149 | ||||||||
Gabon Government International Bonds(d) | 6.95% | 6/16/2025 | 18,379,000 | 18,061,962 | ||||||||
Total | 26,656,111 | |||||||||||
Kenya 0.19% | ||||||||||||
Republic of Kenya Government International Bonds(d) | 7.00% | 5/22/2027 | 19,700,000 | 19,246,742 | ||||||||
Republic of Kenya Government International Bonds†(d) | 9.75% | 2/16/2031 | 20,552,000 | 21,104,335 | ||||||||
Total | 40,351,077 | |||||||||||
Mexico 0.35% | ||||||||||||
Mexico Bonos | 7.50% | 5/26/2033 | MXN | 1,367,800,000 | 73,311,348 |
See Notes to Schedule of Investments. | 35 |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
Montenegro 0.09% | ||||||||||||
Montenegro Government International Bonds†(d) | 7.25% | 3/12/2031 | $ | 17,532,000 | $ | 17,862,566 | ||||||
Nigeria 0.35% | ||||||||||||
Nigeria Government International Bonds(d) | 7.143% | 2/23/2030 | 58,674,000 | 53,432,887 | ||||||||
Nigeria Government International Bonds(d) | 7.625% | 11/28/2047 | 27,075,000 | 21,101,984 | ||||||||
Total | 74,534,871 | |||||||||||
Panama 0.19% | ||||||||||||
Panama Government International Bonds(d) | 6.40% | 2/14/2035 | 14,856,000 | 14,066,093 | ||||||||
Panama Government International Bonds(d) | 7.50% | 3/1/2031 | 8,576,000 | 8,910,819 | ||||||||
Panama Government International Bonds(d) | 9.375% | 4/1/2029 | 14,881,000 | 16,685,938 | ||||||||
Total | 39,662,850 | |||||||||||
Paraguay 0.05% | ||||||||||||
Paraguay Government International Bonds† | 7.90% | 2/9/2031 | PYG | 82,052,000,000 | 11,535,441 | |||||||
Senegal 0.35% | ||||||||||||
Senegal Government International Bonds†(d) | 6.25% | 5/23/2033 | $ | 85,313,000 | 72,930,074 | |||||||
Serbia 0.21% | ||||||||||||
Serbia International Bonds†(d) | 6.25% | 5/26/2028 | 42,356,000 | 43,309,772 | ||||||||
Sri Lanka 0.13% | ||||||||||||
Sri Lanka Government International Bonds†(d)(i) | 5.875% | 7/25/2022 | 45,243,000 | 26,857,105 | ||||||||
Turkey 0.76% | ||||||||||||
Istanbul Metropolitan Municipality†(d) | 10.50% | 12/6/2028 | 20,592,000 | 22,085,950 | ||||||||
Turkiye Government International Bonds(d) | 5.125% | 2/17/2028 | 112,768,000 | 107,266,500 | ||||||||
Turkiye Government International Bonds(d) | 9.375% | 3/14/2029 | 27,200,000 | 29,631,680 | ||||||||
Total | 158,984,130 | |||||||||||
Uruguay 0.22% | ||||||||||||
Uruguay Government International Bonds | 9.75% | 7/20/2033 | UYU | 1,645,058,743 | 46,111,153 | |||||||
Venezuela 0.03% | ||||||||||||
Venezuela Government International Bonds(b)(d)(i) | 11.75% | 10/21/2026 | $ | 34,694,300 | 6,436,786 | |||||||
Venezuela Government International Bonds(d)(i) | 12.75% | 8/23/2022 | 4,517,400 | 790,311 | ||||||||
Total | 7,227,097 | |||||||||||
Total Foreign Government Obligations (cost $1,079,255,519) | 1,126,665,900 |
36 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
GOVERNMENT SPONSORED ENTERPRISES PASS-THROUGHS 9.89% | ||||||||||||
Government National Mortgage Association(o) | 2.50% | TBA | $ | 33,429,000 | $ | 28,496,932 | ||||||
Government National Mortgage Association(o) | 3.00% | TBA | 148,709,000 | 131,245,675 | ||||||||
Government National Mortgage Association(o) | 3.50% | TBA | 65,450,000 | 59,602,606 | ||||||||
Government National Mortgage Association(o) | 4.00% | TBA | 118,032,000 | 110,483,681 | ||||||||
Government National Mortgage Association(o) | 4.50% | TBA | 84,827,000 | 81,517,481 | ||||||||
Government National Mortgage Association(o) | 5.00% | TBA | 107,442,000 | 105,631,322 | ||||||||
Government National Mortgage Association(o) | 5.50% | TBA | 104,359,000 | 104,232,960 | ||||||||
Government National Mortgage Association(o) | 6.00% | TBA | 103,656,000 | 104,493,131 | ||||||||
Government National Mortgage Association(o) | 6.50% | TBA | 204,377,000 | 207,651,800 | ||||||||
Government National Mortgage Association(o) | 7.00% | TBA | 102,323,000 | 104,480,544 | ||||||||
Uniform Mortgage-Backed Security(o) | 2.50% | TBA | 56,660,000 | 46,874,700 | ||||||||
Uniform Mortgage-Backed Security(o) | 4.00% | TBA | 58,368,000 | 54,080,783 | ||||||||
Uniform Mortgage-Backed Security(o) | 4.50% | TBA | 79,396,000 | 75,629,267 | ||||||||
Uniform Mortgage-Backed Security(o) | 5.50% | TBA | 258,890,000 | 258,597,305 | ||||||||
Uniform Mortgage-Backed Security(o) | 6.00% | TBA | 295,522,000 | 299,112,261 | ||||||||
Uniform Mortgage-Backed Security(o) | 6.50% | TBA | 140,311,000 | 143,310,379 | ||||||||
Uniform Mortgage-Backed Security(o) | 7.00% | TBA | 159,805,000 | 164,575,456 | ||||||||
Total Government Sponsored Enterprises Pass-Throughs (cost $2,076,557,794) | 2,080,016,283 | |||||||||||
INVESTMENTS IN AFFILIATED UNDERLYING FUNDS 0.07% | ||||||||||||
Lord Abbett Private Credit Fund 1, LP(p)(q) (cost $15,559,467) | 15,559,467 | (r) | 15,559,467 | |||||||||
MUNICIPAL BONDS 0.35% | ||||||||||||
Government 0.11% | ||||||||||||
Foothill-Eastern Transportation Corridor Agency CA | 4.094% | 1/15/2049 | 26,814,000 | 22,621,146 | ||||||||
Miscellaneous 0.16% | ||||||||||||
Dallas Convention Center Hotel Development Corp. TX | 7.088% | 1/1/2042 | 17,645,000 | 20,163,727 | ||||||||
New York City Industrial Development Agency NY† | 11.00% | 3/1/2029 | 13,278,000 | 14,996,339 | ||||||||
Total | 35,160,066 | |||||||||||
Tax Revenue 0.08% | ||||||||||||
Memphis-Shelby County Industrial Development Board Tax Allocation TN(i) | 7.00% | 7/1/2045 | 22,085,000 | 16,592,533 | (c) | |||||||
Total Municipal Bonds (cost $86,449,982) | 74,373,745 |
See Notes to Schedule of Investments. | 37 |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES 6.84% | ||||||||||||
Bank Series 2024-5YR5 Class A3 | 5.702% | 2/15/2029 | $ | 21,860,000 | $ | 22,421,419 | ||||||
BBCMS Mortgage Trust Series 2019-BWAY Class A† | 6.396% (1 mo. USD Term SOFR + 1.07%) | # | 11/15/2034 | 9,960,000 | 7,078,042 | |||||||
Benchmark Mortgage Trust Series 2024-V5 Class A3 | 5.805% | 1/10/2057 | 22,780,000 | 23,477,756 | ||||||||
Benchmark Mortgage Trust Series 2024-V6 Class A3(b) | 5.926% | 3/15/2029 | 47,420,000 | 48,999,745 | ||||||||
BHMS Mortgage Trust Series 2018-ATLS Class A† | 6.872% (1 mo. USD Term SOFR + 1.55%) | # | 7/15/2035 | 52,060,000 | 52,018,409 | |||||||
BLP Commercial Mortgage Trust Series 2024-IND2 Class A† | 6.668% (1 mo. USD Term SOFR + 1.34%) | # | 3/15/2041 | 55,600,000 | 55,697,272 | |||||||
BMO Mortgage Trust Series 2023-C5 Class A5 | 5.765% | 6/15/2056 | 9,835,000 | 10,334,565 | ||||||||
BX Commercial Mortgage Trust Series 2020-VIV4 Class A† | 2.843% | 3/9/2044 | 27,502,000 | 23,819,378 | ||||||||
BX Commercial Mortgage Trust Series 2021-VOLT Class A† | 6.14% (1 mo. USD Term SOFR + 0.81%) | # | 9/15/2036 | 41,121,000 | 40,842,405 | |||||||
BX Commercial Mortgage Trust Series 2024-XL4 Class A† | 6.767% (1 mo. USD Term SOFR + 1.44%) | # | 2/15/2039 | 35,050,000 | 35,146,009 | |||||||
BX Commercial Mortgage Trust Series 2024-XL5 Class A† | 6.692% (1 mo. USD Term SOFR + 1.39%) | # | 3/15/2041 | 26,940,000 | 26,993,519 | |||||||
BX Trust Series 2021-ARIA Class A† | 6.339% (1 mo. USD Term SOFR + 1.01%) | # | 10/15/2036 | 12,340,000 | 12,226,868 | |||||||
BX Trust Series 2022-PSB Class A† | 7.776% (1 mo. USD Term SOFR + 2.45%) | # | 8/15/2039 | 36,023,271 | 36,293,223 | |||||||
CF Trust Series 2019-BOSS Class A1† | 8.623% (1 mo. USD Term SOFR + 3.30%) | # | 12/15/2024 | 18,050,000 | 17,700,978 | |||||||
Chase Home Lending Mortgage Trust Series 2024-1A2 Class A2† | 6.50% | #(s) | 1/25/2055 | 38,638,681 | 39,030,516 | |||||||
CIM Trust Series 2018-INV1 Class B1† | 4.711% | #(s) | 8/25/2048 | 8,091,312 | 7,614,508 | |||||||
CIM Trust Series 2020-J1 Class A2† | 2.50% | #(s) | 7/25/2050 | 8,547,738 | 6,988,585 | |||||||
CIM Trust Series 2021-J1 Class A1† | 2.50% | #(s) | 3/25/2051 | 9,164,142 | 7,386,306 | |||||||
Citigroup Mortgage Loan Trust, Inc. Series 2021-INV2 Class A3A† | 2.50% | #(s) | 5/25/2051 | 41,933,535 | 34,007,312 |
38 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued) | ||||||||||||
Citigroup Mortgage Loan Trust, Inc. Series 2022-INV1 Class A3B† | 3.00% | #(s) | 11/27/2051 | $ | 61,885,804 | $ | 51,962,929 | |||||
CS Master Trust Series 2021-BLUF Class A†(i) | 9.61% (1 mo. USD Term SOFR + 4.29%) | # | 4/15/2023 | 19,335,000 | 18,845,185 | (c) | ||||||
CSMC Trust Series 2021-BPNY Class A† | 9.155% (1 mo. USD Term SOFR + 3.83%) | # | 8/15/2026 | 38,040,000 | 34,221,564 | |||||||
Federal Home Loan Mortgage Corp. STACR REMICS Notes Series 2022-HQA2 Class M1B† | 9.32% (30 day USD SOFR Average + 4.00%) | # | 7/25/2042 | 7,550,000 | 8,041,209 | |||||||
Federal Home Loan Mortgage Corp. STACR REMICS Notes Series 2023-DNA2 Class M1A† | 7.42% (30 day USD SOFR Average + 2.10%) | # | 4/25/2043 | 20,968,482 | 21,365,436 | |||||||
Federal Home Loan Mortgage Corp. STACR REMICS Notes Series 2023-DNA2 Class M1B† | 8.57% (30 day USD SOFR Average + 3.25%) | # | 4/25/2043 | 43,500,000 | 45,704,428 | |||||||
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2021-HQA3 Class M1† | 6.17% (30 day USD SOFR Average + 0.85%) | # | 9/25/2041 | 11,322,741 | 11,275,918 | |||||||
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2022-DNA2 Class M1B† | 7.72% (30 day USD SOFR Average + 2.40%) | # | 2/25/2042 | 16,065,000 | 16,378,862 | |||||||
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2022-HQA3 Class M1A† | 7.62% (30 day USD SOFR Average + 2.30%) | # | 8/25/2042 | 28,824,233 | 29,454,549 | |||||||
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2022-HQA3 Class M1B† | 8.87% (30 day USD SOFR Average + 3.55%) | # | 8/25/2042 | 32,190,000 | 33,838,041 | |||||||
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2023-HQA3 Class M2† | 8.67% (30 day USD SOFR Average + 3.35%) | # | 11/25/2043 | 24,400,000 | 25,588,763 | |||||||
Federal National Mortgage Association Connecticut Avenue Securities Series 2022-R01 Class 1B2† | 11.32% (30 day USD SOFR Average + 6.00%) | # | 12/25/2041 | 25,930,000 | 27,356,946 |
See Notes to Schedule of Investments. | 39 |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued) | ||||||||||||
Federal National Mortgage Association Connecticut Avenue Securities Series 2022-R03 Class 1M2† | 8.82% (30 day USD SOFR Average + 3.50%) | # | 3/25/2042 | $ | 13,035,000 | $ | 13,682,855 | |||||
Federal National Mortgage Association Connecticut Avenue Securities Series 2023-R03 Class 2M2† | 9.22% (30 day USD SOFR Average + 3.90%) | # | 4/25/2043 | 17,850,000 | 19,059,819 | |||||||
Federal National Mortgage Association Connecticut Avenue Securities Series 2023-R06 Class 1M2† | 8.02% (30 day USD SOFR Average + 2.70%) | # | 7/25/2043 | 9,700,000 | 10,056,946 | |||||||
Federal National Mortgage Association Connecticut Avenue Securities Series 2024-R01 Class 1M2† | 7.12% (30 day USD SOFR Average + 1.80%) | # | 1/25/2044 | 7,525,000 | 7,575,875 | |||||||
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2019-R05 Class 1B1† | 9.535% (30 day USD SOFR Average + 4.21%) | # | 7/25/2039 | 17,941,179 | 18,699,244 | |||||||
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R02 Class 2M1† | 6.52% (30 day USD SOFR Average + 1.20%) | # | 1/25/2042 | 10,993,279 | 11,014,699 | |||||||
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R08 Class 1M1† | 7.87% (30 day USD SOFR Average + 2.55%) | # | 7/25/2042 | 18,933,263 | 19,445,037 | |||||||
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2023-R01 Class 1M1† | 7.721% (30 day USD SOFR Average + 2.40%) | # | 12/25/2042 | 42,600,795 | 43,773,416 | |||||||
Flagstar Mortgage Trust Series 2021-8INV Class A3† | 2.50% | #(s) | 9/25/2051 | 10,350,857 | 8,342,799 | |||||||
Great Wolf Trust Series 2024-WOLF Class A† | 6.842% (1 mo. USD Term SOFR + 1.54%) | # | 3/15/2039 | 26,070,000 | 26,152,793 | |||||||
GS Mortgage Securities Corp. Trust Series 2021-PJ1 Class A2† | 2.50% | #(s) | 6/25/2051 | 18,704,628 | 15,075,945 | |||||||
GS Mortgage Securities Corp. Trust Series 2021-PJ5 Class A2† | 2.50% | #(s) | 10/25/2051 | 6,841,830 | 5,514,521 | |||||||
GS Mortgage Securities Corp. Trust Series 2023-FUN Class A† | 7.417% (1 mo. USD Term SOFR + 2.09%) | # | 3/15/2028 | 41,970,000 | 42,174,142 |
40 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Interest Rate | Maturity Date | Principal Amount‡ | Fair Value | ||||||||
NON-AGENCY COMMERCIAL MORTGAGE-BACKED SECURITIES (continued) | ||||||||||||
GS Mortgage-Backed Securities Corp. Trust Series 2021-PJ6 Class A8† | 2.50% | #(s) | 11/25/2051 | $ | 14,845,644 | $ | 12,947,359 | |||||
GS Mortgage-Backed Securities Corp. Trust Series 2022-PJ4 Class A34† | 2.50% | #(s) | 9/25/2052 | 8,324,702 | 6,637,159 | |||||||
GS Mortgage-Backed Securities Trust Series 2021-PJ6 Class A2† | 2.50% | #(s) | 11/25/2051 | 21,598,727 | 17,408,591 | |||||||
GS Mortgage-Backed Securities Trust Series 2021-PJ7 Class A2† | 2.50% | #(s) | 1/25/2052 | 14,120,073 | 11,380,790 | |||||||
Hilton Orlando Trust Series 2018-ORL Class A† | 6.392% (1 mo. USD Term SOFR + 1.07%) | # | 12/15/2034 | 13,143,000 | 13,137,408 | |||||||
HPLY Trust Series 2019-HIT Class A† | 6.436% (1 mo. USD Term SOFR + 1.11%) | # | 11/15/2036 | 17,841,639 | 17,801,155 | |||||||
JP Morgan Mortgage Trust Series 2020-7 Class A3† | 3.00% | #(s) | 1/25/2051 | 8,953,058 | 7,613,015 | |||||||
JP Morgan Mortgage Trust Series 2021-12 Class A3† | 2.50% | #(s) | 2/25/2052 | 10,992,129 | 8,859,665 | |||||||
JP Morgan Mortgage Trust Series 2021-7 Class A3† | 2.50% | #(s) | 11/25/2051 | 7,578,613 | 6,108,368 | |||||||
JP Morgan Mortgage Trust Series 2021-INV5 Class A2† | 3.00% | #(s) | 12/25/2051 | 9,372,134 | 7,869,390 | |||||||
JP Morgan Mortgage Trust Series 2021-INV8 Class A2† | 3.00% | #(s) | 5/25/2052 | 38,882,754 | 32,648,227 | |||||||
JP Morgan Mortgage Trust Series 2022-4 Class A2A† | 3.00% | #(s) | 10/25/2052 | 16,952,225 | 14,234,077 | |||||||
JPMorgan Chase Commercial Mortgage Securities Trust Series 2021-BOLT Class D† | 12.141% (1 mo. USD Term SOFR + 6.81%) | # | 8/15/2033 | 41,665,000 | 25,654,474 | (c) | ||||||
Life Mortgage Trust Series 2022-BMR2 Class A1† | 6.621% (1 mo. USD Term SOFR + 1.30%) | # | 5/15/2039 | 37,340,000 | 37,055,156 | |||||||
NRTH Mortgage Trust Series 2024-PARK Class A† | 6.941% (1 mo. USD Term SOFR + 1.64%) | # | 3/15/2041 | 33,700,000 | 33,800,258 | |||||||
SHOW Trust Series 2022-BIZ Class A† | 8.302% (1 mo. USD Term SOFR + 2.98%) | # | 1/15/2027 | 81,900,000 | 76,528,091 | |||||||
SMRT Commercial Mortgage Trust Series 2022-MINI Class A† | 6.326% (1 mo. USD Term SOFR + 1.00%) | # | 1/15/2039 | 13,730,000 | 13,655,045 | |||||||
WB Commercial Mortgage Trust Series 2024-HQ Class A† | 6.134% | #(s) | 3/15/2040 | 23,430,000 | 23,587,815 | |||||||
Total Non-Agency Commercial Mortgage-Backed Securities (cost $1,462,495,466) | 1,439,604,779 |
See Notes to Schedule of Investments. | 41 |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investments | Dividend Rate | Shares | Fair Value | |||||||||
PREFERRED STOCKS 0.12% | ||||||||||||
Automobiles 0.06% | ||||||||||||
Dr Ing hc F Porsche AG†(e) | 2.31% | 112,862 | $ | 11,236,120 | (c) | |||||||
Transportation Infrastructure 0.06% | ||||||||||||
ACBL Holdings Corp. | Zero Coupon | 205,069 | 13,329,485 | |||||||||
Total Preferred Stocks (cost $16,460,238) | 24,565,605 | |||||||||||
Total Long-Term Investments (cost $23,166,892,929) | 23,100,111,768 | |||||||||||
Principal Amount‡ | ||||||||||||
SHORT-TERM INVESTMENTS 0.34% | ||||||||||||
Repurchase Agreements 0.23% | ||||||||||||
Repurchase Agreement dated 3/28/2024, 2.800%% due 4/1/2024 with Fixed Income Clearing Corp. collateralized by $49,142,900 of U.S. Treasury Bond at 4.250% due 2/15/2054; value: $48,554,603; proceeds: $47,617,356 (cost $47,602,547) | $ | 47,602,547 | 47,602,547 | |||||||||
Shares | ||||||||||||
MONEY MARKET FUNDS 0.10% | ||||||||||||
Fidelity Government Portfolio(t) (cost $22,225,190) | 22,225,190 | 22,225,190 | ||||||||||
TIME DEPOSITS 0.01% | ||||||||||||
CitiBank N.A.(t) (cost $2,469,466) | 2,469,466 | 2,469,466 | ||||||||||
Total Short-Term Investments (cost $72,297,203) | 72,297,203 | |||||||||||
Total Investments in Securities 110.13% (cost $23,239,190,132) | 23,172,408,971 | |||||||||||
Other Assets and Liabilities – Net(u) (10.13)% | (2,132,259,420 | ) | ||||||||||
Net Assets 100.00% | $ | 21,040,149,551 |
BRL | Brazilian Real. | |
EUR | Euro. | |
GBP | British Pound. | |
MXN | Mexican Peso. | |
PYG | Paraguay Guarani. | |
UYU | Uruguayan Peso. | |
CMT | Constant Maturity Rate. | |
EURIBOR | Euro Interbank Offered Rate. | |
ICE | Intercontinental Exchange. | |
LIBOR | London Interbank Offered Rate. | |
PIK | Payment-in-kind. |
42 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
REITS | Real Estate Investment Trusts. | |
REMICS | Real Estate Mortgage Investment Conduits. | |
SOFR | Secured Overnight Financing Rate. | |
STACR | Structured Agency Credit Risk. | |
‡ | Principal Amount is denominated in U.S. dollars unless otherwise noted. | |
† | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At March 31, 2024, the total value of Rule 144A securities was $12,685,964,332, which represents 60.29% of net assets. | |
# | Variable rate security. The interest rate represents the rate in effect at March 31, 2024. | |
* | Non-income producing security. | |
(a) | Variable Rate is Fixed to Float: Rate remains fixed or at Zero Coupon until designated future date. | |
(b) | Securities purchased on a when-issued basis. | |
(c) | Level 3 Investment as described in Note 2(b) in the Notes to Schedule of Investments. Security valued utilizing third party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of such Level 3 investments. | |
(d) | Foreign security traded in U.S. dollars. | |
(e) | Investment in non-U.S. dollar denominated securities. | |
(f) | Level 3 Investment as described in Note 2(b) in the Notes to Schedule of Investments. Security fair valued by the Pricing Committee. | |
(g) | All or a portion of this security is temporarily on loan to unaffiliated broker/dealers. | |
(h) | Security is perpetual in nature and has no stated maturity. | |
(i) | Defaulted (non-income producing security). | |
(j) | Amount is less than $1. | |
(k) | Floating Rate Loans in which the Fund invests generally pay interest at rates which are periodically re-determined at a margin above the Secured Overnight Financing Rate (“SOFR”) or the prime rate offered by major U.S. banks. The rate(s) shown is the rate(s) in effect at March 31, 2024. | |
(l) | Interest Rate to be determined. | |
(m) | Level 3 Investment as described in Note 2(b) in the Notes to Schedule of Investments. Floating Rate Loan fair valued by the Pricing Committee. | |
(n) | Step Bond – Security with a predetermined schedule of interest rate changes. | |
(o) | To-be-announced (“TBA”). Security purchased on a forward commitment basis with an approximate principal and maturity date. Actual principal and maturity will be determined upon settlement when the specific mortgage pools are assigned. | |
(p) | Affiliated issuers (See Note 5). | |
(q) | Restricted securities (including private placement) - investments in securities not registered under the Securities Act of 1933 (excluding 144A issues). At March 31, 2024, the value of restricted securities (excluding 144A issues) amounted to $15,559,467 or 0.07% of net assets. | |
(r) | Principal amount represents partnership interest. | |
(s) | Interest rate is based on the weighted average interest rates of the underlying mortgages within the mortgage pool. | |
(t) | Security was purchased with the cash collateral from loaned securities. | |
(u) | Other Assets and Liabilities – Net include net unrealized appreciation/depreciation on forward foreign currency exchange contracts, futures contracts and swap contracts as follows: |
Centrally Cleared Consumer Price Index (“CPI”) Swap Contracts at March 31, 2024:
Swap Counterparty | Payments to be Made By The Fund at Termination Date | Payments to be Received By The Fund at Termination Date | Termination Date | Notional Amount | Value/Unrealized Appreciation | ||||||||||
Bank of America | 2.544% | CPI Urban Consumer NSA | 3/2/2052 | $ | 29,848,102 | $ | 723,287 | (1) | |||||||
Bank of America | 2.544% | CPI Urban Consumer NSA | 3/2/2052 | 60,151,898 | 1,457,618 | ||||||||||
Total Unrealized Appreciation on Centrally Cleared CPI Swap Contracts | $ | 2,180,905 |
See Notes to Schedule of Investments. | 43 |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Centrally Cleared Consumer Price Index (“CPI”) Swap Contracts at March 31, 2024:
Swap Counterparty | Payments to be Made By The Fund at Termination Date | Payments to be Received By The Fund at Termination Date | Termination Date | Notional Amount | Value/Unrealized Depreciation | ||||||||||
Bank of America | 2.665% | CPI Urban Consumer NSA | 10/23/2028 | $ | 200,000,000 | $ | (1,769,268 | ) | |||||||
Bank of America | 2.665% | CPI Urban Consumer NSA | 5/12/2052 | 97,080,000 | (1,394,201 | ) | |||||||||
Bank of America | 2.748% | CPI Urban Consumer NSA | 4/20/2052 | 128,000,000 | (3,868,175 | ) | |||||||||
Total Unrealized Depreciation on Centrally Cleared CPI Swap Contracts | $ | (7,031,644 | ) |
NSA | Non-seasonally adjusted. | |
(1) | Unrealized appreciation on Centrally Cleared CPI Swap Contract is $587,579, which includes upfront payment of $135,708. Upfront payments paid (received) by Central Clearing Party are presented net of amortization. |
Forward Foreign Currency Exchange Contracts at March 31, 2024:
Forward Foreign Currency Exchange Contracts | Transaction Type | Counterparty | Expiration Date | Foreign Currency | U.S. $ Cost on Origination Date | U.S. $ Current Value | Unrealized Appreciation | ||||||||||||
Australian dollar | Sell | State Street Bank and Trust | 5/10/2024 | 37,500,000 | $ | 24,624,585 | $ | 24,462,851 | $ | 161,734 | |||||||||
Australian dollar | Sell | State Street Bank and Trust | 5/10/2024 | 9,611,000 | 6,290,255 | 6,269,666 | 20,589 | ||||||||||||
British pound | Sell | Morgan Stanley | 5/17/2024 | 11,381,000 | 14,523,373 | 14,368,003 | 155,370 | ||||||||||||
British pound | Sell | State Street Bank and Trust | 5/17/2024 | 4,847,000 | 6,205,224 | 6,119,120 | 86,104 | ||||||||||||
Canadian dollar | Sell | Bank of America | 5/9/2024 | 20,663,000 | 15,329,840 | 15,262,845 | 66,995 | ||||||||||||
Canadian dollar | Sell | Morgan Stanley | 5/9/2024 | 14,143,000 | 10,517,125 | 10,446,809 | 70,316 | ||||||||||||
Canadian dollar | Sell | State Street Bank and Trust | 5/9/2024 | 14,160,000 | 10,514,596 | 10,459,366 | 55,230 | ||||||||||||
Canadian dollar | Sell | State Street Bank and Trust | 5/9/2024 | 8,465,000 | 6,279,143 | 6,252,721 | 26,422 | ||||||||||||
Euro | Sell | Morgan Stanley | 5/22/2024 | 58,548,000 | 63,490,716 | 63,287,606 | 203,110 | ||||||||||||
Euro | Sell | State Street Bank and Trust | 5/22/2024 | 10,505,000 | 11,355,426 | 11,355,406 | 20 | ||||||||||||
Japanese yen | Sell | Morgan Stanley | 5/16/2024 | 3,440,000,000 | 23,158,647 | 22,878,642 | 280,005 | ||||||||||||
Total Unrealized Appreciation on Forward Foreign Currency Exchange Contracts | $ | 1,125,895 |
44 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Forward Foreign Currency Exchange Contracts | Transaction Type | Counterparty | Expiration Date | Foreign Currency | U.S. $ Cost on Origination Date | U.S. $ Current Value | Unrealized Depreciation | |||||||||||||
Australian dollar | Buy | State Street Bank and Trust | 5/10/2024 | 15,085,000 | $ | 9,906,789 | $ | 9,840,590 | $ | (66,199 | ) | |||||||||
Australian dollar | Buy | State Street Bank and Trust | 5/10/2024 | 16,918,000 | 11,066,944 | 11,036,335 | (30,609 | ) | ||||||||||||
British pound | Buy | Morgan Stanley | 5/17/2024 | 3,672,000 | 4,649,732 | 4,635,736 | (13,996 | ) | ||||||||||||
British pound | Buy | Morgan Stanley | 5/17/2024 | 2,093,000 | 2,657,020 | 2,642,319 | (14,701 | ) | ||||||||||||
British pound | Buy | Toronto Dominion Bank | 5/17/2024 | 1,424,000 | 1,798,372 | 1,797,736 | (636 | ) | ||||||||||||
Euro | Buy | Morgan Stanley | 5/22/2024 | 3,395,000 | 3,680,031 | 3,669,834 | (10,197 | ) | ||||||||||||
Euro | Buy | Morgan Stanley | 5/22/2024 | 3,863,000 | 4,232,864 | 4,175,719 | (57,145 | ) | ||||||||||||
Australian dollar | Sell | State Street Bank and Trust | 5/10/2024 | 7,663,000 | 4,998,295 | 4,998,902 | (607 | ) | ||||||||||||
Australian dollar | Sell | State Street Bank and Trust | 5/10/2024 | 8,408,000 | 5,480,922 | 5,484,897 | (3,975 | ) | ||||||||||||
British pound | Sell | Morgan Stanley | 5/17/2024 | 60,700,000 | 76,624,736 | 76,631,031 | (6,295 | ) | ||||||||||||
Canadian dollar | Sell | Morgan Stanley | 5/9/2024 | 4,716,000 | 3,473,856 | 3,483,501 | (9,645 | ) | ||||||||||||
Canadian dollar | Sell | Morgan Stanley | 5/9/2024 | 8,384,000 | 6,176,488 | 6,192,890 | (16,402 | ) | ||||||||||||
Total Unrealized Depreciation on Forward Foreign Currency Exchange Contracts | $ | (230,407 | ) |
Futures Contracts at March 31, 2024:
Type | Expiration | Contracts | Position | Notional Amount | Notional Value | Unrealized Appreciation | |||||||||||||
U.S. 5-Year Treasury Note | June 2024 | 9,605 | Long | $1,026,773,787 | $1,027,885,078 | $1,111,291 | |||||||||||||
Type | Expiration | Contracts | Position | Notional Amount | Notional Value | Unrealized Depreciation | |||||||||||||
U.S. 10-Year Treasury Note | June 2024 | 4,708 | Short | $ | (518,316,177 | ) | $ | (521,631,687 | ) | $ | (3,315,510 | ) | |||||||
U.S. 2-Year Treasury Note | June 2024 | 4,991 | Long | 1,022,592,995 | 1,020,581,521 | (2,011,474 | ) | ||||||||||||
U.S. Long Bond | June 2024 | 2,809 | Short | (331,388,809 | ) | (338,308,938 | ) | (6,920,129 | ) | ||||||||||
U.S. Ultra Treasury Bond | June 2024 | 2,097 | Short | (264,132,265 | ) | (270,513,000 | ) | (6,380,735 | ) | ||||||||||
Total Unrealized Depreciation on Futures Contracts | $ | (18,627,848 | ) |
See Notes to Schedule of Investments. | 45 |
Schedule of Investments (unaudited)(continued)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
The following is a summary of the inputs used as of March 31, 2024 in valuing the Fund’s investments carried at fair value(1):
Investment Type(2) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Long-Term Investments | ||||||||||||||||
Asset-Backed Securities | ||||||||||||||||
Other | $ | – | $ | 916,753,673 | $ | 29,455,718 | $ | 946,209,391 | ||||||||
Remaining Industries | – | 338,131,596 | – | 338,131,596 | ||||||||||||
Common Stocks | ||||||||||||||||
Automobile Components | – | 7,530,339 | – | 7,530,339 | ||||||||||||
Electric-Generation | – | 62,997 | – | 62,997 | ||||||||||||
Entertainment | 54,783,198 | 20,161,624 | – | 74,944,822 | ||||||||||||
Hotels, Restaurants & Leisure | 83,118,910 | 19,913,524 | – | 103,032,434 | ||||||||||||
Miscellaneous Financials | – | – | 6,118,900 | 6,118,900 | ||||||||||||
Personal Care Products | – | 7,750,395 | – | 7,750,395 | ||||||||||||
Specialty Retail | 57,281,406 | 985,684 | – | 58,267,090 | ||||||||||||
Textiles, Apparel & Luxury Goods | 67,006,230 | 31,742,790 | – | 98,749,020 | ||||||||||||
Transportation Infrastructure | – | 1,975,468 | – | 1,975,468 | ||||||||||||
Remaining Industries | 1,236,525,919 | – | – | 1,236,525,919 | ||||||||||||
Corporate Bonds | ||||||||||||||||
Banks | – | 1,130,922,648 | 1 | 1,130,922,649 | ||||||||||||
Diversified Financial Services | – | 484,349,605 | – | (3) | 484,349,605 | |||||||||||
Mining | – | 386,947,247 | – | (4) | 386,947,247 | |||||||||||
Savings & Loans | – | – | – | (3) | – | (3) | ||||||||||
Remaining Industries | – | 12,573,847,938 | – | 12,573,847,938 | ||||||||||||
Floating Rate Loans | ||||||||||||||||
Personal & Household Products | – | – | 98,529 | 98,529 | ||||||||||||
Remaining Industries | – | 883,861,650 | – | 883,861,650 | ||||||||||||
Foreign Government Obligations | – | 1,126,665,900 | – | 1,126,665,900 | ||||||||||||
Government Sponsored Enterprises Pass-Throughs | – | 2,080,016,283 | – | 2,080,016,283 | ||||||||||||
Investments In Affiliated | ||||||||||||||||
Underlying Funds | 15,559,467 | – | – | 15,559,467 | ||||||||||||
Municipal Bonds | ||||||||||||||||
Tax Revenue | – | – | 16,592,533 | 16,592,533 | ||||||||||||
Remaining Industries | – | 57,781,212 | – | 57,781,212 | ||||||||||||
Non-Agency Commercial Mortgage-Backed Securities | – | 1,395,105,120 | 44,499,659 | 1,439,604,779 | ||||||||||||
Preferred Stocks | – | 13,329,485 | 11,236,120 | 24,565,605 | ||||||||||||
Short-Term Investments | ||||||||||||||||
Repurchase Agreements | – | 47,602,547 | – | 47,602,547 | ||||||||||||
Money Market Funds | 22,225,190 | – | – | 22,225,190 | ||||||||||||
Time Deposits | – | 2,469,466 | – | 2,469,466 | ||||||||||||
Total | $ | 1,536,500,320 | $ | 21,527,907,191 | $ | 108,001,460 | $ | 23,172,408,971 |
46 | See Notes to Schedule of Investments. |
Schedule of Investments (unaudited)(concluded)
LORD ABBETT BOND-DEBENTURE FUND, INC. March 31, 2024
Investment Type(2) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Other Financial Instruments | ||||||||||||||||
Centrally Cleared CPI Swap Contracts | ||||||||||||||||
Assets | $ | – | $ | 2,180,905 | $ | – | $ | 2,180,905 | ||||||||
Liabilities | – | (7,031,644 | ) | – | (7,031,644 | ) | ||||||||||
Forward Foreign Currency Exchange Contracts | ||||||||||||||||
Assets | – | 1,125,895 | – | 1,125,895 | ||||||||||||
Liabilities | – | (230,407 | ) | – | (230,407 | ) | ||||||||||
Futures Contracts | ||||||||||||||||
Assets | 1,111,291 | – | – | 1,111,291 | ||||||||||||
Liabilities | (18,627,848 | ) | – | – | (18,627,848 | ) | ||||||||||
Total | $ | (17,516,557 | ) | $ | (3,955,251 | ) | $ | – | $ | (21,471,808 | ) |
(1) | Refer to Note 2(b) for a description of fair value measurements and the three-tier hierarchy of inputs. | |
(2) | See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized. | |
(3) | Amount is less than $1. | |
(4) | Includes securities with zero fair value. |
A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets. Management has determined not to provide a reconciliation as the balance of Level 3 investments was not considered to be material to the Fund’s net assets at the beginning or end of the period.
See Notes to Schedule of Investments. | 47 |
Notes to Schedule of Investments (unaudited)
1. | ORGANIZATION |
Lord Abbett Bond-Debenture Fund, Inc. (the “Fund”) is registered under the Investment Company Act of 1940, as amended (the “Act”), as a diversified, open-end management investment company. The Fund was incorporated under Maryland law on January 23, 1976.
2. | SIGNIFICANT ACCOUNTING POLICIES |
(a) | Investment Valuation–Under procedures approved by the Fund’s Board of Directors (the “Board”), the Board has designated the determination of fair value of the Fund’s portfolio investment to Lord, Abbett & Co. LLC (“Lord Abbett”) as its valuation designee. Accordingly, Lord Abbett is responsible for, among other things, assessing and managing valuation risks, establishing, applying and testing fair value methodologies, and evaluating pricing services. Lord Abbett has formed a Pricing Committee that performs these responsibilities on behalf of Lord Abbett, administers the pricing and valuation of the portfolio investments and ensures that prices utilized reasonably reflect fair value. Among other things, these procedures allow Lord Abbett, subject to Board oversight, to utilize independent pricing services, quotations from securities, and financial instrument dealers and other market sources to determine fair value. |
Securities actively traded on any recognized U.S. or non-U.S. exchange or on The NASDAQ Stock Market LLC are valued at the last sale price or official closing price on the exchange or system on which they are principally traded. Events occurring after the close of trading on non-U.S. exchanges may result in adjustments to the valuation of foreign securities to reflect their fair value as of the close of regular trading on the New York Stock Exchange. When valuing foreign equity securities that meet certain criteria, the Pricing Committee uses a third-party fair valuation service that values such securities to reflect market trading that occurs after the close of the applicable foreign markets of comparable securities or other instruments that correlate to the fair-valued securities. Unlisted equity securities are valued at the last quoted sale price or, if no sale price is available, at the mean between the most recently quoted bid and ask prices. Exchange traded options and futures contracts are valued at the last quoted sale price in the market where they are principally traded. If no sale has occurred, the mean between the most recently quoted bid and ask prices is used. Fixed income securities are valued based on evaluated prices supplied by independent pricing services, which reflect broker/dealer supplied valuations and the independent pricing services’ own electronic data processing techniques. Floating rate loans are valued at the average of bid and ask quotations obtained from dealers in loans on the basis of prices supplied by independent pricing services. Forward foreign currency exchange contracts are valued using daily forward exchange rates. Swaps, options and options on swaps (“swaptions”) are valued daily using independent pricing services or quotations from broker/dealers to the extent available.
Securities for which prices are not readily available are valued at fair value as determined by the Pricing Committee. The Pricing Committee considers a number of factors, including observable and unobservable inputs, when arriving at fair value. The Pricing Committee may use observable inputs such as yield curves, broker quotes, observable trading activity, option adjusted spread models and other relevant information to determine the fair value of portfolio investments. The Board or a designated committee thereof periodically reviews reports that may include fair value determinations made by the Pricing Committee, related market activity, inputs and assumptions, and retrospective comparison of prices of subsequent purchases and sales transactions to fair value determinations made by the Pricing Committee.
48
Notes to Schedule of Investments (unaudited)(continued)
Short-term securities with 60 days or less remaining to maturity are valued using the amortized cost method, which approximates fair value. Investments in open-end money market mutual funds are valued at their NAV as of the close of each business day.
(b) | Fair Value Measurements–Fair value is defined as the price that the Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market of the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk - for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The three-tier hierarchy classification is determined based on the lowest level of inputs that is significant to the fair value measurement, and is summarized in the three broad Levels listed 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, credit risk, etc.); and | |
● | Level 3 - | significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). |
A summary of inputs used in valuing the Fund’s investments and other financial instruments as of March 31, 2024 and, if applicable, Level 3 rollforwards for the period then ended is included in the Fund’s Schedule of Investments.
Changes in valuation techniques may result in transfers into or out of an assigned level within the three-tier hierarchy. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
3. | FEDERAL TAX INFORMATION |
It is the policy of each Fund to meet the requirements of Subchapter M of the Internal Revenue Code applicable to regulated investment companies and to distribute substantially all taxable income and capital gains to its shareholders. Therefore, no income tax provision is required.
The Fund files U.S. federal and various state and local tax returns. No income tax returns are currently under examination. The statute of limitations on the Fund’s filed U.S. federal tax returns remains open generally three years after the filing of the tax return. The statutes of limitations on the Fund’s state and local tax returns may remain open for an additional year depending upon the jurisdiction.
49
Notes to Schedule of Investments (unaudited)(concluded)
4. | SECURITIES LENDING AGREEMENT |
The Fund has established a securities lending agreement with Citibank, N.A. for the lending of securities to qualified brokers in exchange for securities or cash collateral equal to at least the market value of securities loaned, plus interest, if applicable. Cash collateral is invested in an approved money market fund. In accordance with the Fund’s securities lending agreement, the market value of securities on loan is determined each day at the close of business and any additional collateral required to cover the value of securities on loan is delivered to the Fund on the next business day. As with other extensions of credit, the Fund may experience a delay in the recovery of its securities or incur a loss should the borrower of the securities breach its agreement with the Fund or the borrower becomes insolvent at a time when the collateral is insufficient to cover the cost of repurchasing securities on loan.
The initial collateral received by the Fund is required to have a value equal to at least 100% of the market value of the securities loaned. The collateral must be marked-to-market daily to cover increases in the market value of the securities loaned (or potentially a decline in the value of the collateral). In general, the risk of borrower default will be borne by Citibank, N.A.; the Fund will bear the risk of loss with respect to the investment of the cash collateral. The advantage of such loans is that the Fund continues to receive income on loaned securities while receiving a portion of any securities lending fees and earning returns on the cash amounts which may be reinvested for the purchase of investments in securities.
As of March 31, 2024, the market value loaned and the value received for the Fund was as follows:
Market Value of Securities Loaned | Collateral Received | ||
$24,308,802 | $24,694,656 |
5. | TRANSACTIONS WITH AFFILIATED FUNDS |
An affiliated issuer is one in which a Fund has ownership of at least 5% of the outstanding voting securities of the underlying issuer at any point during the fiscal year or any company which is under common ownership or control. The Fund had the following transactions with affiliated issuers during the period ended March 31, 2024:
Affiliated Issuer | Value at 12/31/2023 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Appreciation (Depreciation) | Value at 3/31/2024 | Shares as of 3/31/2024 | Dividend Income | Percent Ownership at 3/31/2024 | |||||||||||||
Lord Abbett Private Credit Fund 1, LP | – | $ | 15,559,467 | – | – | – | $ | 15,559,467 | 15,559,467 | – | 0.07% |
50
QPHR-BOND-1Q
(05/24)