AllianceBernstein Global High Income Fund (AWF) NPORT-P AllianceBernstein Global High Income Fund Inc (Dec 2021 report)

AB Global High Income Fund

Portfolio of Investments

December 31, 2021 (unaudited)

	Principal Amount (000)			U.S. $ Value
CORPORATES - NON-INVESTMENT GRADE – 53.4%
Industrial – 45.2%
Basic – 3.1%
Advanced Drainage Systems, Inc. 5.00%, 09/30/2027(a)		U.S.$	140	$	145,091
Ahlstrom-Munksjo Holding 3 Oy 3.625%, 02/04/2028(a)		EUR	178		202,895
4.875%, 02/04/2028(a)		U.S.$	972		959,091
Arconic Corp. 6.125%, 02/15/2028(a)			220		234,091
Axalta Coating Systems LLC 3.375%, 02/15/2029(a)			507		491,214
Axalta Coating Systems LLC/Axalta Coating Systems Dutch Holding B BV 4.75%, 06/15/2027(a)			350		363,125
Berry Global, Inc. 5.625%, 07/15/2027(a)			104		108,627
Chemours Co. (The) 5.375%, 05/15/2027			13		13,975
5.75%, 11/15/2028(a)			219		229,068
Cleveland-Cliffs, Inc. 5.875%, 06/01/2027			222		230,775
6.75%, 03/15/2026(a)			107		113,181
9.875%, 10/17/2025(a)			773		875,590
Crown Americas LLC/Crown Americas Capital Corp. VI 4.75%, 02/01/2026			751		771,779
CVR Partners LP/CVR Nitrogen Finance Corp. 6.125%, 06/15/2028(a)			360		380,504
Diamond BC BV 4.625%, 10/01/2029(a)			316		313,510
Domtar Corp. 6.75%, 10/01/2028(a)			207		212,930
Element Solutions, Inc. 3.875%, 09/01/2028(a)			993		1,005,310
ERP Iron Ore, LLC 9.03%, 12/31/2019(b) (c) (d) (e) (f)			240		182,166
FMG Resources (August 2006) Pty Ltd. 4.375%, 04/01/2031(a)			2,029		2,135,504
4.50%, 09/15/2027(a)			1,034		1,101,344
Glatfelter Corp. 4.75%, 11/15/2029(a)			278		287,316
Graham Packaging Co., Inc. 7.125%, 08/15/2028(a)			297		307,177
Graphic Packaging International LLC 3.75%, 02/01/2030(a)			1,724		1,741,923
Hecla Mining Co. 7.25%, 02/15/2028			282		302,501
Illuminate Buyer LLC/Illuminate Holdings IV, Inc. 9.00%, 07/01/2028(a)			852		907,783

1

	Principal Amount (000)			U.S. $ Value
INEOS Quattro Finance 1 PLC 3.75%, 07/15/2026(a)		EUR	101	$	115,438
INEOS Quattro Finance 2 PLC 3.375%, 01/15/2026(a)		U.S.$	226		226,835
INEOS Styrolution Group GmbH 2.25%, 01/16/2027(a)		EUR	1,008		1,117,056
Ingevity Corp. 3.875%, 11/01/2028(a)		U.S.$	995		970,249
Intelligent Packaging Holdco Issuer LP 9.00% (9.00% Cash or 9.75% PIK), 01/15/2026(a) (b)			611		639,866
Intelligent Packaging Ltd. Finco, Inc./Intelligent Packaging Ltd. Co-Issuer LLC 6.00%, 09/15/2028(a)			361		372,062
Joseph T Ryerson & Son, Inc. 8.50%, 08/01/2028(a)			413		450,009
Kleopatra Finco SARL 4.25%, 03/01/2026(a) (g)		EUR	1,061		1,165,981
Kobe US Midco 2, Inc. 9.25% (9.25% Cash or 10.00% PIK), 11/01/2026(a) (b)		U.S.$	1,300		1,316,150
Kraton Polymers LLC/Kraton Polymers Capital Corp. 5.25%, 05/15/2026(a)		EUR	846		988,954
LABL, Inc. 6.75%, 07/15/2026(a)		U.S.$	222		228,288
Magnetation LLC/Mag Finance Corp. 11.00%, 01/13/2020(c) (d) (e) (f) (h)			2,857		0
Mercer International, Inc. 5.125%, 02/01/2029			1,033		1,055,332
Methanex Corp. 5.125%, 10/15/2027			194		204,321
5.25%, 12/15/2029			213		225,086
Natural Resource Partners LP/NRP Finance Corp. 9.125%, 06/30/2025(a)			80		81,331
Novelis Corp. 4.75%, 01/30/2030(a)			135		142,255
Olin Corp. 5.625%, 08/01/2029			480		520,217
Pactiv Evergreen Group Issuer LLC / Pactiv Evergreen Group Issuer, Inc. 4.375%, 10/15/2028(a)			238		236,209
Pactiv Evergreen Group Issuer, Inc./Pactiv Evergreen Group Issuer LLC/Reynolds Gro 4.00%, 10/15/2027(a)			1,887		1,836,716
PIC AU Holdings LLC/PIC AU Holdings Corp. 10.00%, 12/31/2024(a)			213		218,325
Rain CII Carbon LLC/CII Carbon Corp. 7.25%, 04/01/2025(a)			228		232,972

2

	Principal Amount (000)			U.S. $ Value
Rimini Bidco SpA 5.25% (EURIBOR 3 Month + 5.25%), 12/14/2026(i)		EUR	912	$	1,019,701
SCIL IV LLC/SCIL USA Holdings LLC 4.375%, 11/01/2026(a)			320		369,989
5.375%, 11/01/2026(a)		U.S.$	1,039		1,070,858
Sealed Air Corp. 4.00%, 12/01/2027(a)			204		212,803
5.25%, 04/01/2023(a)			27		28,006
6.875%, 07/15/2033(a)			167		212,312
SPCM SA 3.125%, 03/15/2027(a)			655		647,229
3.375%, 03/15/2030(a)			951		917,960
TPC Group, Inc. 10.50%, 08/01/2024(a)			202		146,282
Tronox, Inc. 4.625%, 03/15/2029(a)			212		211,471
Unifrax Escrow Issuer Corp. 5.25%, 09/30/2028(a)			159		160,978
7.50%, 09/30/2029(a)			246		249,728
United States Steel Corp. 6.65%, 06/01/2037			37		41,593
Valvoline, Inc. 4.25%, 02/15/2030(a)			1,707		1,741,816
WR Grace Holdings LLC 4.875%, 06/15/2027(a)			1,031		1,058,987
5.625%, 10/01/2024-08/15/2029(a)			447		468,968
					34,518,803
Capital Goods – 2.4%
Apex Tool Group LLC/BC Mountain Finance, Inc. 9.00%, 02/15/2023(a)			351		333,212
ARD Finance SA 5.00% (5.00% Cash or 5.75% PIK), 06/30/2027(a) (b)		EUR	939		1,096,312
6.50% (6.50% Cash or 7.25 % PIK), 06/30/2027(a) (b)		U.S.$	1,039		1,069,699
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC 3.25%, 09/01/2028(a)			1,107		1,090,628
4.00%, 09/01/2029(a)			985		974,086
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc. 5.25%, 04/30/2025(a)			212		219,267
Artera Services LLC 9.033%, 12/04/2025(a)			192		202,327
Ball Corp. 2.875%, 08/15/2030			241		234,501
3.125%, 09/15/2031			133		131,632
4.00%, 11/15/2023			219		228,831

3

	Principal Amount (000)			U.S. $ Value
Bombardier, Inc. 7.125%, 06/15/2026(a)		U.S.$	179	$	185,875
7.50%, 12/01/2024-03/15/2025(a)			2,404		2,453,599
7.875%, 04/15/2027(a)			614		636,712
Clean Harbors, Inc. 4.875%, 07/15/2027(a)			25		25,825
Cleaver-Brooks, Inc. 7.875%, 03/01/2023(a)			633		619,012
Colfax Corp. 6.375%, 02/15/2026(a)			157		162,587
Cornerstone Building Brands, Inc. 6.125%, 01/15/2029(a)			211		225,091
Energizer Holdings, Inc. 4.375%, 03/31/2029(a)			164		160,179
4.75%, 06/15/2028(a)			348		354,995
EnerSys 4.375%, 12/15/2027(a)			935		970,123
F-Brasile SpA/F-Brasile US LLC Series XR 7.375%, 08/15/2026(a)			957		954,877
FXI Holdings, Inc. 12.25%, 11/15/2026(a)			193		217,037
Gates Global LLC/Gates Corp. 6.25%, 01/15/2026(a)			1,205		1,244,163
GFL Environmental, Inc. 3.50%, 09/01/2028(a)			64		63,043
4.75%, 06/15/2029(a)			200		201,452
Granite US Holdings Corp. 11.00%, 10/01/2027(a)			507		551,752
Griffon Corp. 5.75%, 03/01/2028			603		627,210
JELD-WEN, Inc. 4.625%, 12/15/2025(a)			128		129,368
Madison IAQ LLC 5.875%, 06/30/2029(a)			1,126		1,126,116
Mauser Packaging Solutions Holding Co. 5.50%, 04/15/2024(a)			224		225,996
Mueller Water Products, Inc. 4.00%, 06/15/2029(a)			293		296,846
Renk AG/Frankfurt am Main 5.75%, 07/15/2025(a)		EUR	1,560		1,845,553
Stevens Holding Co., Inc. 6.125%, 10/01/2026(a)		U.S.$	141		151,004
Summit Materials LLC/Summit Materials Finance Corp. 5.25%, 01/15/2029(a)			203		212,547
Tervita Corp. 11.00%, 12/01/2025(a)			996		1,145,554
Titan Holdings II BV 5.125%, 07/15/2029(a)		EUR	649		733,927
TK Elevator Holdco GmbH 7.625%, 07/15/2028(a)		U.S.$	465		497,760

4

	Principal Amount (000)			U.S. $ Value
TK Vertical US Newco, Inc. 5.25%, 07/15/2027(a)		U.S.$	306	$	321,404
TransDigm, Inc. 4.625%, 01/15/2029			290		289,122
4.875%, 05/01/2029			1,954		1,959,410
6.25%, 03/15/2026(a)			556		577,758
8.00%, 12/15/2025(a)			217		228,896
Triumph Group, Inc. 7.75%, 08/15/2025			428		425,864
8.875%, 06/01/2024(a)			396		431,654
Trivium Packaging Finance BV 3.75%, 08/15/2026(a)		EUR	100		115,441
5.50%, 08/15/2026(a)		U.S.$	227		237,037
Wesco Distribution, Inc. 7.125%, 06/15/2025(a)			188		199,110
7.25%, 06/15/2028(a)			518		569,552
					26,953,946
Communications - Media – 5.6%
Advantage Sales & Marketing, Inc. 6.50%, 11/15/2028(a)			1,332		1,398,621
Allen Media LLC/Allen Media Co-Issuer, Inc. 10.50%, 02/15/2028(a)			42		43,839
Altice Financing SA 5.75%, 08/15/2029(a)			5,665		5,603,802
AMC Networks, Inc. 4.25%, 02/15/2029			1,576		1,569,220
4.75%, 08/01/2025			218		222,899
5.00%, 04/01/2024			88		88,683
Arches Buyer, Inc. 6.125%, 12/01/2028(a)			546		549,636
Banijay Entertainment SASU 3.50%, 03/01/2025(a)		EUR	210		240,327
5.375%, 03/01/2025(a)		U.S.$	2,124		2,172,007
CCO Holdings LLC/CCO Holdings Capital Corp. 4.25%, 01/15/2034(a)			236		232,393
4.50%, 08/15/2030-06/01/2033(a)			7,416		7,594,706
5.00%, 02/01/2028(a)			212		219,808
5.125%, 05/01/2027(a)			551		570,369
Clear Channel Worldwide Holdings, Inc. 5.125%, 08/15/2027(a)			512		529,824
CSC Holdings LLC 4.50%, 11/15/2031(a)			981		969,741
5.00%, 11/15/2031(a)			588		567,675
5.375%, 02/01/2028(a)			1,278		1,321,122
5.75%, 01/15/2030(a)			393		392,946
7.50%, 04/01/2028(a)			941		1,010,220
Diamond Sports Group LLC/Diamond Sports Finance Co. 5.375%, 08/15/2026(a)			299		149,089
DISH DBS Corp. 5.00%, 03/15/2023			240		245,876
5.125%, 06/01/2029			1,831		1,665,991

5

	Principal Amount (000)			U.S. $ Value
5.25%, 12/01/2026(a)		U.S.$	2,496	$	2,535,364
5.75%, 12/01/2028(a)			2,596		2,624,823
5.875%, 11/15/2024			2,398		2,462,583
7.375%, 07/01/2028			165		167,515
7.75%, 07/01/2026			203		214,429
Gray Escrow II, Inc. 5.375%, 11/15/2031(a)			1,864		1,916,638
Gray Television, Inc. 7.00%, 05/15/2027(a)			204		218,108
iHeartCommunications, Inc. 4.75%, 01/15/2028(a)			60		60,883
5.25%, 08/15/2027(a)			285		296,366
6.375%, 05/01/2026			207		216,253
8.375%, 05/01/2027			202		213,072
Lamar Media Corp. 4.875%, 01/15/2029			147		153,704
Liberty Interactive LLC 3.75%, 02/15/2030(j)			873		652,517
McGraw-Hill Education, Inc. 5.75%, 08/01/2028(a)			1,123		1,111,770
8.00%, 08/01/2029(a)			986		978,457
National CineMedia LLC 5.875%, 04/15/2028(a)			623		558,960
Nexstar Broadcasting, Inc. 4.75%, 11/01/2028(a)			172		175,925
Outfront Media Capital LLC/Outfront Media Capital Corp. 4.25%, 01/15/2029(a)			137		137,176
4.625%, 03/15/2030(a)			580		580,238
Scripps Escrow II, Inc. 5.375%, 01/15/2031(a)			501		510,492
Sinclair Television Group, Inc. 4.125%, 12/01/2030(a)			2,078		1,964,948
5.50%, 03/01/2030(a)			926		901,056
Sirius XM Radio, Inc. 4.00%, 07/15/2028(a)			5,699		5,737,516
4.125%, 07/01/2030(a)			87		87,233
5.50%, 07/01/2029(a)			59		63,645
Summer BC Holdco B SARL 5.75%, 10/31/2026(a)		EUR	1,395		1,652,588
TEGNA, Inc. 4.625%, 03/15/2028		U.S.$	236		238,731
4.75%, 03/15/2026(a)			571		594,584
5.00%, 09/15/2029			907		930,128
Telenet Finance Luxembourg Notes SARL 5.50%, 03/01/2028(a)			200		206,113
Terrier Media Buyer, Inc. 8.875%, 12/15/2027(a)			158		170,829
Univision Communications, Inc. 6.625%, 06/01/2027(a)			1,593		1,714,896
9.50%, 05/01/2025(a)			309		331,296

6

	Principal Amount (000)			U.S. $ Value
Urban One, Inc. 7.375%, 02/01/2028(a)		U.S.$	2,436	$	2,510,949
Virgin Media Secured Finance PLC 4.50%, 08/15/2030(a)			992		998,389
Ziggo Bond Co. BV 5.125%, 02/28/2030(a)			299		301,163
6.00%, 01/15/2027(a)			224		230,876
Ziggo BV 5.50%, 01/15/2027(a)			224		230,661
					62,009,668
Communications - Telecommunications – 2.8%
Altice France SA/France 5.125%, 07/15/2029(a)			6,254		6,102,386
5.50%, 10/15/2029(a)			431		425,692
8.125%, 02/01/2027(a)			224		238,629
Connect Finco SARL/Connect US Finco LLC 6.75%, 10/01/2026(a)			1,754		1,839,508
Consolidated Communications, Inc. 5.00%, 10/01/2028(a)			795		811,238
6.50%, 10/01/2028(a)			377		399,752
DKT Finance ApS 7.00%, 06/17/2023(a)		EUR	506		583,550
9.375%, 06/17/2023(a)		U.S.$	895		905,124
Embarq Corp. 7.995%, 06/01/2036			2,075		2,325,246
Frontier Communications Holdings LLC 5.875%, 10/15/2027(a)			218		230,569
5.875%, 11/01/2029			235		234,635
6.75%, 05/01/2029(a)			524		546,494
Hughes Satellite Systems Corp. 6.625%, 08/01/2026			730		816,908
Iliad Holding SASU 6.50%, 10/15/2026(a)			519		545,689
7.00%, 10/15/2028(a)			702		738,547
Intelsat Jackson Holdings SA 5.50%, 08/01/2023(c)(k)			1,675		756,066
Kaixo Bondco Telecom SA 5.125%, 09/30/2029(a)		EUR	897		1,027,668
Koninklijke KPN NV 7.00%, 03/28/2073(a)		U.S.$	201		211,120
Level 3 Financing, Inc. 3.75%, 07/15/2029(a)			16		15,320
5.25%, 03/15/2026			164		167,917
Ligado Networks LLC 15.50%, 11/01/2023(a)(b)			266		215,993
Lumen Technologies, Inc. 4.50%, 01/15/2029(a)			1,007		976,523
5.375%, 06/15/2029(a)			169		169,936
Series P 7.60%, 09/15/2039			73		78,335
Series T 5.80%, 03/15/2022			78		78,740

7

	Principal Amount (000)			U.S. $ Value
Sprint Capital Corp. 8.75%, 03/15/2032		U.S.$	83	$	124,514
Telecom Italia Capital SA 6.00%, 09/30/2034			131		138,231
7.20%, 07/18/2036			451		515,135
7.721%, 06/04/2038			1,622		1,900,389
Telesat Canada/Telesat LLC 5.625%, 12/06/2026(a)			124		116,407
6.50%, 10/15/2027(a)			132		102,292
Vmed O2 UK Financing I PLC 4.25%, 01/31/2031(a)			530		519,574
4.75%, 07/15/2031(a)			4,101		4,167,737
Vodafone Group PLC 5.125%, 06/04/2081			154		157,664
Windstream Escrow LLC/Windstream Escrow Finance Corp. 7.75%, 08/15/2028(a)			223		236,084
Zayo Group Holdings, Inc. 6.125%, 03/01/2028(a)			2,135		2,106,794
					30,526,406
Consumer Cyclical - Automotive – 2.8%
Adient Global Holdings Ltd. 4.875%, 08/15/2026(a)			400		409,412
Adient US LLC 9.00%, 04/15/2025(a)			975		1,038,969
Allison Transmission, Inc. 5.875%, 06/01/2029(a)			489		533,349
American Axle & Manufacturing, Inc. 5.00%, 10/01/2029			73		71,653
Aston Martin Capital Holdings Ltd. 10.50%, 11/30/2025(a)			1,095		1,201,143
15.00% (8.89% Cash and 6.11% PIK), 11/30/2026(a) (b)			1,963		2,251,087
Clarios Global LP/Clarios US Finance Co. 4.375%, 05/15/2026(a)		EUR	210		245,115
6.25%, 05/15/2026(a)		U.S.$	188		196,977
Dana Financing Luxembourg SARL 5.75%, 04/15/2025(a)			109		111,870
Dana, Inc. 4.25%, 09/01/2030			760		774,151
5.375%, 11/15/2027			109		114,448
5.625%, 06/15/2028			182		193,371
Dealer Tire LLC/DT Issuer LLC 8.00%, 02/01/2028(a)			1,116		1,161,929
Exide Technologies (Exchange Priority) 11.00%, 10/31/2024(c) (d) (f) (h)			2,940		0
(First Lien) 11.00%, 10/31/2024(c) (d) (f) (h)			1,207		0
Ford Motor Co. 3.25%, 02/12/2032			3,020		3,091,735
4.75%, 01/15/2043			212		234,301
5.291%, 12/08/2046			212		248,720

8

	Principal Amount (000)			U.S. $ Value
Ford Motor Credit Co. LLC 2.70%, 08/10/2026		U.S.$	793	$	800,930
3.37%, 11/17/2023			420		433,441
3.664%, 09/08/2024			200		208,122
3.81%, 01/09/2024			200		207,061
4.14%, 02/15/2023			417		428,568
Goodyear Tire & Rubber Co. (The) 5.00%, 07/15/2029(a)			765		821,471
5.25%, 04/30/2031			23		25,073
5.25%, 07/15/2031(a)			94		102,125
IHO Verwaltungs GmbH 3.625% (3.625% Cash or 4.375% PIK), 05/15/2025(a) (b)		EUR	284		327,431
3.875% (3.875% Cash or 4.625% PIK), 05/15/2027(a) (b)			338		392,619
4.75% (4.75% Cash or 5.50% PIK), 09/15/2026(a) (b)		U.S.$	200		204,347
Jaguar Land Rover Automotive PLC 4.50%, 10/01/2027(a)			239		230,187
5.50%, 07/15/2029(a)			1,206		1,192,210
5.875%, 11/15/2024(a)		EUR	269		330,683
5.875%, 01/15/2028(a)		U.S.$	1,495		1,522,270
7.75%, 10/15/2025(a)			1,207		1,302,029
Mclaren Finance PLC 7.50%, 08/01/2026(a)			1,973		1,995,744
Meritor, Inc. 4.50%, 12/15/2028(a) 725					728,839
6.25%, 06/01/2025(a)			409		426,960
PM General Purchaser LLC 9.50%, 10/01/2028(a)			1,456		1,474,946
Real Hero Merger Sub 2, Inc. 6.25%, 02/01/2029(a)			480		480,430
Tenneco, Inc. 5.00%, 07/15/2026(g)			1,709		1,651,235
7.875%, 01/15/2029(a)			948		1,028,368
Titan International, Inc. 7.00%, 04/30/2028			1,465		1,557,990
ZF Europe Finance BV 2.00%, 02/23/2026(a)		EUR	200		228,851
ZF North America Capital, Inc. 4.75%, 04/29/2025(a)		U.S.$	721		774,284
					30,754,444
Consumer Cyclical - Entertainment – 2.4%
Carnival Corp. 4.00%, 08/01/2028(a)			1,739		1,725,958
5.75%, 03/01/2027(a)			1,424		1,424,000
6.00%, 05/01/2029(a)			151		149,975
9.875%, 08/01/2027(a)			437		498,180
10.125%, 02/01/2026(a)		EUR	621		798,346

9

	Principal Amount (000)			U.S. $ Value
Carnival PLC 1.00%, 10/28/2029		EUR	202	$	172,479
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op 5.50%, 05/01/2025(a)		U.S.$	2,191		2,277,109
Cinemark USA, Inc. 5.25%, 07/15/2028(a)			492		479,732
Mattel, Inc. 3.375%, 04/01/2026(a)			1,152		1,181,649
3.75%, 04/01/2029(a)			1,637		1,699,777
5.875%, 12/15/2027(a)			578		621,401
Motion Bondco DAC 4.50%, 11/15/2027(a)		EUR	670		728,024
NCL Corp., Ltd. 3.625%, 12/15/2024(a)		U.S.$	25		23,661
5.875%, 03/15/2026(a)			2,055		2,058,264
NCL Finance Ltd. 6.125%, 03/15/2028(a)			39		38,589
Royal Caribbean Cruises Ltd. 5.50%, 08/31/2026-04/01/2028(a)			5,373		5,433,176
10.875%, 06/01/2023(a)			1,315		1,433,376
11.50%, 06/01/2025(a)			1,476		1,660,500
Six Flags Theme Parks, Inc. 7.00%, 07/01/2025(a)			419		447,536
Viking Cruises Ltd. 5.875%, 09/15/2027(a)			791		752,561
7.00%, 02/15/2029(a)			1,461		1,464,039
13.00%, 05/15/2025(a)			65		73,556
VOC Escrow Ltd. 5.00%, 02/15/2028(a)			1,214		1,207,295
					26,349,183
Consumer Cyclical - Other – 2.8%
Adams Homes, Inc. 7.50%, 02/15/2025(a)			800		833,712
Affinity Gaming 6.875%, 12/15/2027(a)			130		136,013
Beazer Homes USA, Inc. 6.75%, 03/15/2025			1,228		1,259,880
Brookfield Residential Properties, Inc./Brookfield Residential US LLC 4.875%, 02/15/2030(a)			1,097		1,122,073
5.00%, 06/15/2029(a)			195		199,287
6.25%, 09/15/2027(a)			1,222		1,280,539
Builders FirstSource, Inc. 4.25%, 02/01/2032(a)			196		203,882
Caesars Entertainment, Inc. 4.625%, 10/15/2029(a)			1,354		1,361,690
Churchill Downs, Inc. 4.75%, 01/15/2028(a)			680		707,514

10

	Principal Amount (000)			U.S. $ Value
CP Atlas Buyer, Inc. 7.00%, 12/01/2028(a)		U.S.$	553	$	549,306
Empire Communities Corp. 7.00%, 12/15/2025(a)			303		314,033
Everi Holdings, Inc. 5.00%, 07/15/2029(a)			240		243,496
Five Point Operating Co. LP/Five Point Capital Corp. 7.875%, 11/15/2025(a)			1,969		2,057,378
Forestar Group, Inc. 3.85%, 05/15/2026(a)			586		587,993
Forterra Finance LLC/FRTA Finance Corp. 6.50%, 07/15/2025(a)			284		301,226
Hilton Domestic Operating Co., Inc. 3.625%, 02/15/2032(a)			1,065		1,060,378
3.75%, 05/01/2029(a)			62		62,478
4.00%, 05/01/2031(a)			54		55,307
5.375%, 05/01/2025(a)			229		238,097
5.75%, 05/01/2028(a)			246		262,893
Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Esc 4.875%, 07/01/2031(a)			719		721,990
5.00%, 06/01/2029(a)			709		727,299
Installed Building Products, Inc. 5.75%, 02/01/2028(a)			291		302,338
International Game Technology PLC 3.50%, 06/15/2026(a)		EUR	214		248,541
4.125%, 04/15/2026(a)		U.S.$	1,581		1,625,316
5.25%, 01/15/2029(a)			200		212,169
KB Home 7.50%, 09/15/2022			494		516,470
Marriott Ownership Resorts, Inc. 4.50%, 06/15/2029(a)			50		50,362
6.125%, 09/15/2025(a)			449		468,021
Mattamy Group Corp. 4.625%, 03/01/2030(a)			224		228,203
MGM Resorts International 4.75%, 10/15/2028			126		130,348
5.50%, 04/15/2027			191		204,756
5.75%, 06/15/2025			30		32,361
Mohegan Gaming & Entertainment 8.00%, 02/01/2026(a)			223		234,200
New Home Co., Inc. (The) 7.25%, 10/15/2025(a)			211		215,612
Peninsula Pacific Entertainment LLC/Peninsula Pacific Entertainment Finance In 8.50%, 11/15/2027(a)			169		183,368
Picasso Finance Sub, Inc. 6.125%, 06/15/2025(a)			172		180,071
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp. 5.625%, 09/01/2029(a)			496		492,725
5.875%, 09/01/2031(a)			535		537,345

11

	Principal Amount (000)			U.S. $ Value
Scientific Games International, Inc. 3.375%, 02/15/2026(a)		EUR	120	$	137,776
Shea Homes LP/Shea Homes Funding Corp. 4.75%, 02/15/2028-04/01/2029(a)		U.S.$	1,460		1,494,210
Standard Industries, Inc./NJ 4.375%, 07/15/2030(a)			929		948,806
4.75%, 01/15/2028(a)			211		218,271
Sugarhouse HSP Gaming Prop Mezz LP/Sugarhouse HSP Gaming Finance Corp. 5.875%, 05/15/2025(a)			1,785		1,784,095
Taylor Morrison Communities, Inc. 5.125%, 08/01/2030(a)			29		32,074
5.75%, 01/15/2028(a)			510		568,509
5.875%, 06/15/2027(a)			191		214,243
Taylor Morrison Communities, Inc./Taylor Morrison Holdings II, Inc. 5.875%, 04/15/2023(a)			875		910,000
Travel + Leisure Co. 4.50%, 12/01/2029(a)			911		917,585
4.625%, 03/01/2030(a)			2,415		2,427,075
6.625%, 07/31/2026(a)			637		705,496
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp. 5.25%, 05/15/2027(a)			45		45,930
5.50%, 03/01/2025(a)			736		761,054
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp. 5.125%, 10/01/2029(a)			279		283,776
					31,597,570
Consumer Cyclical – Restaurants – 0.6%
1011778 BC ULC/New Red Finance, Inc. 3.50%, 02/15/2029(a)			224		221,751
3.875%, 01/15/2028(a)			1,506		1,524,812
4.00%, 10/15/2030(a)			2,061		2,035,975
4.375%, 01/15/2028(a)			118		120,530
Yum! Brands, Inc.
3.625%, 03/15/2031			237		236,261
4.625%, 01/31/2032			1,952		2,071,670
4.75%, 01/15/2030(a)			207		223,987
					6,434,986
Consumer Cyclical – Retailers – 2.2%
Arko Corp. 5.125%, 11/15/2029(a)			1,035		1,000,075
Asbury Automotive Group, Inc. 4.625%, 11/15/2029(a)			773		788,823
5.00%, 02/15/2032(a)			332		342,995

12

	Principal Amount (000)			U.S. $ Value
Bath & Body Works, Inc. 5.25%, 02/01/2028		U.S.$	11	$	12,113
6.75%, 07/01/2036			285		350,471
6.875%, 11/01/2035			664		826,528
7.50%, 06/15/2029			107		121,849
7.60%, 07/15/2037			261		317,907
9.375%, 07/01/2025(a)			41		50,016
BCPE Ulysses Intermediate, Inc. 7.75% (7.75% Cash or 8.50% PIK), 04/01/2027(a) (b)			518		514,115
Bed Bath & Beyond, Inc. 5.165%, 08/01/2044			58		48,154
Dufry One BV 2.50%, 10/15/2024(a)		EUR	1,260		1,410,012
eG Global Finance PLC 6.75%, 02/07/2025(a)		U.S.$	218		220,594
FirstCash, Inc. 4.625%, 09/01/2028(a)			262		261,849
5.625%, 01/01/2030(a)			822		838,341
Foundation Building Materials, Inc. 6.00%, 03/01/2029(a)			246		241,211
Gap, Inc. (The) 3.625%, 10/01/2029(a)			526		520,235
3.875%, 10/01/2031(a)			526		519,790
Group 1 Automotive, Inc. 4.00%, 08/15/2028(a)			234		233,732
Kontoor Brands, Inc. 4.125%, 11/15/2029(a)			994		994,967
LBM Acquisition LLC 6.25%, 01/15/2029(a)			222		221,134
Levi Strauss & Co. 3.50%, 03/01/2031(a)			602		613,866
Macy’s Retail Holdings LLC 2.875%, 02/15/2023			123		124,512
3.625%, 06/01/2024			42		43,119
5.875%, 04/01/2029(a)			224		238,528
Michaels Cos, Inc. (The) 5.25%, 05/01/2028(a)			1,417		1,415,201
7.875%, 05/01/2029(a)			1,378		1,358,537
Murphy Oil USA, Inc. 3.75%, 02/15/2031(a)			228		226,596
5.625%, 05/01/2027			69		71,665
NMG Holding Co., Inc./Neiman Marcus Group LLC 7.125%, 04/01/2026(a)			433		459,433
Party City Holdings, Inc. 8.75%, 02/15/2026(a)			126		130,079
Penske Automotive Group, Inc. 3.50%, 09/01/2025			401		411,335
PetSmart, Inc./PetSmart Finance Corp. 4.75%, 02/15/2028(a)			625		642,512
7.75%, 02/15/2029(a)			1,219		1,330,791

13

	Principal Amount (000)			U.S. $ Value
Rite Aid Corp. 7.50%, 07/01/2025(a)		U.S.$	1,382	$	1,418,380
8.00%, 11/15/2026(a)			214		219,047
Specialty Building Products Holdings LLC/SBP Finance Corp. 6.375%, 09/30/2026(a)			605		633,888
SRS Distribution, Inc. 6.125%, 07/01/2029(a)			329		335,125
Staples, Inc. 7.50%, 04/15/2026(a)			842		864,772
10.75%, 04/15/2027(a)			1,441		1,357,328
TPro Acquisition Corp. 11.00%, 10/15/2024(a)			1,062		1,158,228
White Cap Buyer LLC 6.875%, 10/15/2028(a)			161		168,537
White Cap Parent LLC 8.25%, 03/15/2026(a) (b)			329		336,861
William Carter Co. (The) 5.50%, 05/15/2025(a)			438		456,740
Wolverine World Wide, Inc. 4.00%, 08/15/2029(a)			1,040		1,006,522
					24,856,513
Consumer Non - Cyclical – 6.5%
180 Medical, Inc. 3.875%, 10/15/2029(a)			1,040		1,053,082
Acadia Healthcare Co., Inc. 5.50%, 07/01/2028(a)			397		417,039
AdaptHealth LLC 4.625%, 08/01/2029(a)			266		266,502
6.125%, 08/01/2028(a)			288		305,050
AHP Health Partners, Inc. 5.75%, 07/15/2029(a)			988		978,539
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC 4.625%, 01/15/2027(a)			615		645,866
4.875%, 02/15/2030(a)			200		216,179
5.875%, 02/15/2028(a)			99		105,124
7.50%, 03/15/2026(a)			201		214,666
Avantor Funding, Inc. 4.625%, 07/15/2028(a)			205		215,429
B&G Foods, Inc. 5.25%, 04/01/2025			217		221,382
Bausch Health Americas, Inc. 8.50%, 01/31/2027(a)			543		574,166
Bausch Health Cos., Inc. 4.875%, 06/01/2028(a)			2,950		3,026,609
5.00%, 02/15/2029(a)			177		157,088
5.25%, 01/30/2030-02/15/2031(a)			172		151,987
6.125%, 04/15/2025(a)			417		425,622
6.25%, 02/15/2029(a)			116		110,377
7.00%, 01/15/2028(a)			204		205,073
7.25%, 05/30/2029(a)			365		361,609

14

	Principal Amount (000)			U.S. $ Value
CD&R Smokey Buyer, Inc. 6.75%, 07/15/2025(a)		U.S.$	72	$	75,560
Charles River Laboratories International, Inc. 3.75%, 03/15/2029(a)			986		1,001,231
4.00%, 03/15/2031(a)			731		748,794
4.25%, 05/01/2028(a)			221		230,246
CHS/Community Health Systems, Inc. 4.75%, 02/15/2031(a)			493		499,155
5.625%, 03/15/2027(a)			563		595,472
6.125%, 04/01/2030(a)			3,702		3,661,240
6.625%, 02/15/2025(a)			215		222,528
6.875%, 04/01/2028-04/15/2029(a)			2,114		2,140,145
Cidron Aida Finco SARL 5.00%, 04/01/2028(a)		EUR	236		270,178
DaVita, Inc. 3.75%, 02/15/2031(a)		U.S.$	1,000		975,379
4.625%, 06/01/2030(a)			2,143		2,199,883
Elanco Animal Health, Inc. 5.90%, 08/28/2028			190		221,250
Emergent BioSolutions, Inc. 3.875%, 08/15/2028(a)			1,516		1,453,993
Encompass Health Corp. 4.75%, 02/01/2030			211		217,644
Endo Luxembourg Finance Co. I SARL/Endo US, Inc. 6.125%, 04/01/2029(a)			514		503,257
Global Medical Response, Inc. 6.50%, 10/01/2025(a)			495		501,199
Grifols Escrow Issuer SA 3.875%, 10/15/2028(a)		EUR	1,337		1,528,588
4.75%, 10/15/2028(a)		U.S.$	1,236		1,249,228
Gruenenthal GmbH 4.125%, 05/15/2028(a)		EUR	205		240,489
HLF Financing SARL LLC/Herbalife International, Inc. 4.875%, 06/01/2029(a)		U.S.$	94		91,800
Hologic, Inc. 3.25%, 02/15/2029(a)			236		237,062
IQVIA, Inc. 2.25%, 03/15/2029(a)		EUR	862		978,236
5.00%, 10/15/2026-05/15/2027(a)		U.S.$	427		440,343
Jazz Securities DAC 4.375%, 01/15/2029(a)			1,142		1,182,199
Kronos Acquisition Holdings, Inc./KIK Custom Products, Inc. 7.00%, 12/31/2027(a)			2,451		2,329,341
Lamb Weston Holdings, Inc. 4.125%, 01/31/2030(a)			1,343		1,379,625
4.375%, 01/31/2032(a)			1,240		1,279,295

15

	Principal Amount (000)			U.S. $ Value
LifePoint Health, Inc. 5.375%, 01/15/2029(a)		U.S.$	65	$	64,558
Mallinckrodt International Finance SA/Mallinckrodt CB LLC 5.50%, 04/15/2025(a) (c) (k)			125		68,699
5.625%, 10/15/2023(a) (c) (k)			311		169,442
ModivCare Escrow Issuer, Inc. 5.00%, 10/01/2029(a)			99		101,098
ModivCare, Inc. 5.875%, 11/15/2025(a)			218		229,538
Mozart Debt Merger Sub, Inc. 3.875%, 04/01/2029(a)			1,566		1,560,552
5.25%, 10/01/2029(a)			3,167		3,216,308
Newell Brands, Inc. 4.70%, 04/01/2026			687		749,303
4.875%, 06/01/2025			170		184,986
6.00%, 04/01/2046			55		70,540
Nidda Healthcare Holding GmbH 3.50%, 09/30/2024(a)		EUR	1,470		1,672,800
Option Care Health, Inc. 4.375%, 10/31/2029(a)		U.S.$	1,384		1,387,042
Organon & Co./Organon Foreign Debt Co-Issuer BV 5.125%, 04/30/2031(a)			2,234		2,333,804
Par Pharmaceutical, Inc. 7.50%, 04/01/2027(a)			981		1,002,185
Paysafe Finance PLC/Paysafe Holdings US Corp. 4.00%, 06/15/2029(a)			990		918,225
Performance Food Group, Inc. 4.25%, 08/01/2029(a)			995		987,150
Post Holdings, Inc. 4.50%, 09/15/2031(a)			1,870		1,855,950
4.625%, 04/15/2030(a)			821		833,244
5.50%, 12/15/2029(a)			1,059		1,113,201
5.625%, 01/15/2028(a)			798		845,911
Primo Water Holdings, Inc. 4.375%, 04/30/2029(a)			1,471		1,458,460
Radiology Partners, Inc. 9.25%, 02/01/2028(a)			1,599		1,679,925
RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc. 9.75%, 12/01/2026(a)			775		817,686
RP Escrow Issuer LLC 5.25%, 12/15/2025(a)			399		405,051
Select Medical Corp. 6.25%, 08/15/2026(a)			159		168,442
Spectrum Brands, Inc. 3.875%, 03/15/2031(a)			1,369		1,352,650
4.00%, 10/01/2026(a)		EUR	530		614,496
Sunshine Mid BV 6.50%, 05/15/2026(a)			823		961,569

16

	Principal Amount (000)		U.S. $ Value
Tempur Sealy International, Inc. 3.875%, 10/15/2031(a)	U.S.$	1,264	$	1,267,030
Tenet Healthcare Corp. 4.375%, 01/15/2030(a)		2,799		2,837,321
4.625%, 07/15/2024		43		43,647
4.625%, 09/01/2024(a)		181		185,385
6.125%, 10/01/2028(a)		224		236,681
7.50%, 04/01/2025(a)		205		215,334
Triton Water Holdings, Inc. 6.25%, 04/01/2029(a)		696		672,875
US Acute Care Solutions LLC 6.375%, 03/01/2026(a)		269		281,487
US Foods, Inc. 4.625%, 06/01/2030(a)		675		683,266
4.75%, 02/15/2029(a)		743		755,615
US Renal Care, Inc. 10.625%, 07/15/2027(a)		791		809,387
Vector Group Ltd. 5.75%, 02/01/2029(a)		235		228,600
10.50%, 11/01/2026(a)		196		203,108
Vizient, Inc. 6.25%, 05/15/2027(a)		222		231,213
				71,578,513
Energy – 7.1%
Aethon United BR LP/Aethon United Finance Corp. 8.25%, 02/15/2026(a)		68		72,990
Antero Midstream Partners LP/Antero Midstream Finance Corp. 5.375%, 06/15/2029(a)		35		36,971
7.875%, 05/15/2026(a)		207		228,067
Antero Resources Corp. 7.625%, 02/01/2029(a)		41		45,669
8.375%, 07/15/2026(a)		577		656,862
Apache Corp. 4.25%, 01/15/2030		221		239,800
4.625%, 11/15/2025		219		235,474
4.875%, 11/15/2027		171		186,642
5.10%, 09/01/2040		134		151,442
6.00%, 01/15/2037		46		56,289
Archrock Partners LP/Archrock Partners Finance Corp. 6.25%, 04/01/2028(a)		84		87,506
Ascent Resources Utica Holdings LLC/ARU Finance Corp. 7.00%, 11/01/2026(a)		203		206,227
Athabasca Oil Corp. 9.75%, 11/01/2026(a)		1,346		1,325,810
Baytex Energy Corp. 8.75%, 04/01/2027(a)		214		223,805

17

	Principal Amount (000)		U.S. $ Value
Berry Petroleum Co. LLC 7.00%, 02/15/2026(a)	U.S.$	471	$	469,136
Blue Racer Midstream LLC/Blue Racer Finance Corp. 6.625%, 07/15/2026(a)		284		294,240
7.625%, 12/15/2025(a)		572		608,101
Buckeye Partners LP 4.125%, 12/01/2027		214		220,915
4.50%, 03/01/2028(a)		214		216,375
Callon Petroleum Co. 8.00%, 08/01/2028(a)		48		49,003
8.25%, 07/15/2025		301		298,002
9.00%, 04/01/2025(a)		1,361		1,471,726
Calumet Specialty Products Partners LP/Calumet Finance Corp. 11.00%, 04/15/2025(a)		209		226,973
Cheniere Energy Partners LP 4.50%, 10/01/2029		603		642,464
Chesapeake Energy Corp. 5.50%, 02/01/2026(a)		156		164,355
5.875%, 02/01/2029(a)		135		144,518
Citgo Holding, Inc. 9.25%, 08/01/2024(a)		478		480,213
CITGO Petroleum Corp. 6.375%, 06/15/2026(a)		471		478,188
7.00%, 06/15/2025(a)		1,781		1,827,622
Civitas Resources, Inc. 5.00%, 10/15/2026(a)		1,370		1,384,617
7.50%, 04/30/2026		36		36,506
CNX Resources Corp. 6.00%, 01/15/2029(a)		967		1,005,688
7.25%, 03/14/2027(a)		218		231,164
Comstock Resources, Inc. 5.875%, 01/15/2030(a)		778		797,343
6.75%, 03/01/2029(a)		794		860,936
7.50%, 05/15/2025(a)		348		358,836
CQP Holdco LP/BIP-V Chinook Holdco LLC 5.50%, 06/15/2031(a)		1,467		1,530,752
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp. 5.625%, 05/01/2027(a)		227		231,409
6.00%, 02/01/2029(a)		108		112,063
CrownRock LP/CrownRock Finance, Inc. 5.625%, 10/15/2025(a)		200		205,347
CVR Energy, Inc. 5.25%, 02/15/2025(a)		238		233,009
DCP Midstream LLC 5.85%, 05/21/2043(a)		206		199,826

18

	Principal Amount (000)		U.S. $ Value
Diamond Foreign Asset Co./Diamond Finance LLC 9.00% (9.00% Cash or 13.00 % PIK), 04/22/2027(a)(b)	U.S.$	90	$	89,012
9.00% (9.00% Cash and 13.00% PIK), 04/22/2027(b)		79		77,706
Encino Acquisition Partners Holdings LLC 8.50%, 05/01/2028(a)		1,848		1,920,090
EnLink Midstream LLC 5.625%, 01/15/2028(a)		1,162		1,212,846
EnLink Midstream Partners LP 4.40%, 04/01/2024		67		70,460
5.05%, 04/01/2045		807		778,548
5.45%, 06/01/2047		650		655,795
5.60%, 04/01/2044		104		104,906
Series C 6.00%, 12/15/2022(l)		2,734		2,182,700
EQM Midstream Partners LP 4.50%, 01/15/2029(a)		742		771,821
4.75%, 01/15/2031(a)		707		747,212
6.50%, 07/15/2048		156		189,562
EQT Corp. 3.90%, 10/01/2027		291		312,591
Ferrellgas LP/Ferrellgas Finance Corp. 5.875%, 04/01/2029(a)		106		102,514
Genesis Energy LP/Genesis Energy Finance Corp. 5.625%, 06/15/2024		412		410,478
6.25%, 05/15/2026		222		217,174
6.50%, 10/01/2025		781		773,412
7.75%, 02/01/2028		643		652,134
8.00%, 01/15/2027		1,113		1,146,656
Global Partners LP/GLP Finance Corp. 6.875%, 01/15/2029		439		459,397
7.00%, 08/01/2027		485		503,892
Gulfport Energy Corp. 6.00%, 10/15/2024(c)		589		23,560
6.375%, 05/15/2025-01/15/2026(c)		3,257		130,280
6.625%, 05/01/2023(c)		161		6,440
Gulfport Energy Operating Corp. 8.00%, 05/17/2026(a)		1,173		1,283,105
Harbour Energy PLC 5.50%, 10/15/2026(a)		725		720,118
Harvest Midstream I LP 7.50%, 09/01/2028(a)		49		52,568
Hess Midstream Operations LP 4.25%, 02/15/2030(a)		649		646,454
5.125%, 06/15/2028(a)		226		236,995
5.625%, 02/15/2026(a)		1,707		1,765,736
Hilcorp Energy I LP/Hilcorp Finance Co. 5.75%, 02/01/2029(a)		460		473,887
6.00%, 02/01/2031(a)		435		450,674
6.25%, 11/01/2028(a)		220		234,221
Independence Energy Finance LLC 7.25%, 05/01/2026(a)		1,479		1,540,066

19

	Principal Amount (000)		U.S. $ Value
Ithaca Energy North Sea PLC 9.00%, 07/15/2026(a)	U.S.$	1,574	$	1,614,397
ITT Holdings LLC 6.50%, 08/01/2029(a)		2,660		2,628,571
KLX Energy Services Holdings, Inc. 11.50%, 11/01/2025(a)		64		34,488
Laredo Petroleum, Inc. 9.50%, 01/15/2025		221		226,651
10.125%, 01/15/2028		56		58,722
Matador Resources Co. 5.875%, 09/15/2026		225		230,858
MEG Energy Corp. 5.875%, 02/01/2029(a)		229		240,182
7.125%, 02/01/2027(a)		221		235,360
Moss Creek Resources Holdings, Inc. 7.50%, 01/15/2026(a)		1,638		1,533,754
10.50%, 05/15/2027(a)		184		185,600
Murphy Oil Corp. 5.75%, 08/15/2025		52		53,430
5.875%, 12/01/2027		225		232,220
6.375%, 07/15/2028		199		211,776
Nabors Industries Ltd. 7.25%, 01/15/2026(a)		492		454,689
7.50%, 01/15/2028(a)		2,085		1,868,553
Nabors Industries, Inc. 7.375%, 05/15/2027(a)		1,035		1,070,402
Neptune Energy Bondco PLC 6.625%, 05/15/2025(a)		400		410,184
New Fortress Energy, Inc. 6.50%, 09/30/2026(a)		113		112,883
6.75%, 09/15/2025(a)		1,805		1,833,625
NGL Energy Operating LLC/NGL Energy Finance Corp. 7.50%, 02/01/2026(a)		2,003		2,064,131
NGL Energy Partners LP/NGL Energy Finance Corp. 7.50%, 11/01/2023		224		222,234
Occidental Petroleum Corp. 3.40%, 04/15/2026		310		317,890
4.40%, 08/15/2049		121		122,978
5.50%, 12/01/2025		158		175,216
5.875%, 09/01/2025		21		23,124
6.125%, 01/01/2031		365		443,044
6.375%, 09/01/2028		202		239,483
6.45%, 09/15/2036		128		163,205
6.60%, 03/15/2046		90		116,810
6.625%, 09/01/2030		191		236,433
7.50%, 05/01/2031		179		235,402
8.00%, 07/15/2025		12		13,948
8.50%, 07/15/2027		184		229,746
8.875%, 07/15/2030		173		233,639
PBF Holding Co. LLC/PBF Finance Corp. 7.25%, 06/15/2025		79		56,110
9.25%, 05/15/2025(a)		1,091		1,039,198

20

	Principal Amount (000)			U.S. $ Value
PBF Logistics LP/PBF Logistics Finance Corp. 6.875%, 05/15/2023		U.S.$	112	$	108,985
PDC Energy, Inc. 5.75%, 05/15/2026			2,013		2,079,038
6.125%, 09/15/2024			593		602,140
Range Resources Corp. 4.875%, 05/15/2025			97		100,382
5.00%, 03/15/2023			192		196,016
8.25%, 01/15/2029			652		727,683
Renewable Energy Group, Inc. 5.875%, 06/01/2028(a)			573		588,886
Rockies Express Pipeline LLC 6.875%, 04/15/2040(a)			77		87,011
SM Energy Co. 5.625%, 06/01/2025			991		1,000,206
6.50%, 07/15/2028			171		178,020
Southwestern Energy Co. 5.375%, 02/01/2029			187		198,093
6.45%, 01/23/2025			30		32,976
8.375%, 09/15/2028			429		479,877
Summit Midstream Holdings LLC/Summit Midstream Finance Corp. 8.50%, 10/15/2026(a)			1,031		1,071,628
Sunnova Energy Corp. 5.875%, 09/01/2026(a)			647		660,138
Sunoco LP/Sunoco Finance Corp. 4.50%, 05/15/2029			114		115,876
5.875%, 03/15/2028			964		1,019,430
6.00%, 04/15/2027			117		121,897
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp. 6.00%, 09/01/2031(a)			95		94,235
Talos Production, Inc. 12.00%, 01/15/2026			1,708		1,792,890
Targa Resources Partners LP/Targa Resources Partners Finance Corp. 5.00%, 01/15/2028			204		215,174
5.875%, 04/15/2026			212		221,939
TerraForm Power Operating LLC 4.75%, 01/15/2030(a)			79		82,906
Transocean Guardian Ltd. 5.875%, 01/15/2024(a)			188		180,579
Transocean Phoenix 2 Ltd. 7.75%, 10/15/2024(a)			1,083		1,086,590
Transocean Pontus Ltd. 6.125%, 08/01/2025(a)			187		182,681
Transocean Poseidon Ltd. 6.875%, 02/01/2027(a)			229		222,146
Transocean, Inc. 7.25%, 11/01/2025(a)			359		275,864
7.50%, 01/15/2026(a)			762		567,893
11.50%, 01/30/2027(a)			445		436,623

21

	Principal Amount (000)			U.S. $ Value
USA Compression Partners LP/USA Compression Finance Corp. 6.875%, 09/01/2027		U.S.$	225	$	237,655
Vantage Drilling International 7.125%, 04/01/2023(c) (d) (f)			1,283		0
7.50%, 11/01/2019(c) (d) (f)			2,176		0
Venture Global Calcasieu Pass LLC 4.125%, 08/15/2031(a)			1,376		1,468,202
W&T Offshore, Inc. 9.75%, 11/01/2023(a)			1,099		1,051,638
Weatherford International Ltd. 8.625%, 04/30/2030(a)			159		163,951
11.00%, 12/01/2024(a)			27		27,829
Western Midstream Operating LP 3.95%, 06/01/2025			264		276,556
4.50%, 03/01/2028			216		235,854
4.75%, 08/15/2028			453		502,105
5.30%, 02/01/2030			817		897,144
5.45%, 04/01/2044			193		230,592
6.50%, 02/01/2050			111		131,207
					78,595,362
Other Industrial – 0.2%
Adtalem Global Education, Inc. 5.50%, 03/01/2028(a)			231		225,432
AECOM 5.125%, 03/15/2027			210		228,592
IAA, Inc. 5.50%, 06/15/2027(a)			315		326,770
Interface, Inc. 5.50%, 12/01/2028(a)			258		270,304
KAR Auction Services, Inc. 5.125%, 06/01/2025(a)			674		682,542
Ritchie Bros Holdings, Inc. 4.75%, 12/15/2031(a)			184		191,982
					1,925,622
Services – 3.4%
ADT Security Corp. (The) 4.125%, 06/15/2023			83		86,223
4.125%, 08/01/2029(a)			2,069		2,052,803
4.875%, 07/15/2032(a)			54		55,167
Allied Universal Holdco LLC/Allied Universal Finance Corp. 6.00%, 06/01/2029(a)			527		512,442
6.625%, 07/15/2026(a)			312		327,255
9.75%, 07/15/2027(a)			2,083		2,226,646
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL 3.625%, 06/01/2028(a)		EUR	255		283,467
4.625%, 06/01/2028(a)		U.S.$	804		798,002
4.875%, 06/01/2028(a)		GBP	1,010		1,324,364

22

	Principal Amount (000)			U.S. $ Value
ANGI Group LLC 3.875%, 08/15/2028(a)		U.S.$	2,430	$	2,368,130
Aptim Corp. 7.75%, 06/15/2025(a)			1,424		1,265,003
APX Group, Inc. 5.75%, 07/15/2029(a)			2,116		2,094,863
6.75%, 02/15/2027(a)			265		279,980
Aramark Services, Inc. 5.00%, 02/01/2028(a)			224		231,831
6.375%, 05/01/2025(a)			562		587,393
ASGN, Inc. 4.625%, 05/15/2028(a)			207		214,742
Block, Inc. 2.75%, 06/01/2026(a)			1,440		1,445,948
Cars.com, Inc. 6.375%, 11/01/2028(a)			830		884,327
CWT Travel Group, Inc. 8.50%, 11/19/2026(a)			953		970,202
Elis SA 1.625%, 04/03/2028(a)		EUR	300		340,007
Garda World Security Corp. 6.00%, 06/01/2029(a)		U.S.$	99		95,229
9.50%, 11/01/2027(a)			1,474		1,589,432
Gartner, Inc. 3.75%, 10/01/2030(a)			228		231,772
4.50%, 07/01/2028(a)			224		233,949
GrubHub Holdings, Inc. 5.50%, 07/01/2027(a)			211		209,373
ION Trading Technologies SARL 5.75%, 05/15/2028(a)			1,067		1,099,140
Korn Ferry 4.625%, 12/15/2027(a)			586		603,580
Millennium Escrow Corp. 6.625%, 08/01/2026(a)			1,894		1,899,660
MoneyGram International, Inc. 5.375%, 08/01/2026(a)			1,050		1,067,684
Monitronics International, Inc. 0.00%, 04/01/2020(c) (d) (e) (f)			958		0
MPH Acquisition Holdings LLC 5.50%, 09/01/2028(a)			1,020		1,033,574
5.75%, 11/01/2028(a) (g)			3,618		3,439,282
Nielsen Finance LLC/Nielsen Finance Co. 4.75%, 07/15/2031(a)			137		135,757
5.625%, 10/01/2028(a)			106		109,445
5.875%, 10/01/2030(a)			85		89,746
Photo Holdings Merger Sub, Inc. 8.50%, 10/01/2026(a)			206		214,349
Prime Security Services Borrower LLC/Prime Finance, Inc. 3.375%, 08/31/2027(a)			195		187,792
5.25%, 04/15/2024(a)			25		26,604
6.25%, 01/15/2028(a)			1,515		1,581,740

23

	Principal Amount (000)			U.S. $ Value
Q-Park Holding I BV 2.00%, 03/01/2027(a)		EUR	245	$	263,331
Ritchie Bros Auctioneers, Inc. 5.375%, 01/15/2025(a)		U.S.$	366		369,986
Sabre GLBL, Inc. 9.25%, 04/15/2025(a)			378		427,104
Service Corp. International/US 3.375%, 08/15/2030			224		219,982
4.00%, 05/15/2031			166		169,390
4.625%, 12/15/2027			41		42,898
5.125%, 06/01/2029			91		98,006
Sotheby’s/Bidfair Holdings, Inc. 5.875%, 06/01/2029(a)			205		208,583
Square, Inc. 3.50%, 06/01/2031(a)			1,474		1,518,422
TripAdvisor, Inc. 7.00%, 07/15/2025(a)			422		446,929
Verisure Midholding AB 5.25%, 02/15/2029(a)		EUR	954		1,102,149
Verscend Escrow Corp. 9.75%, 08/15/2026(a)		U.S.$	551		582,240
WASH Multifamily Acquisition, Inc. 5.75%, 04/15/2026(a)			8		8,406
					37,654,329
Technology – 2.4%
Ahead DB Holdings LLC 6.625%, 05/01/2028(a)			725		718,705
Austin BidCo, Inc. 7.125%, 12/15/2028(a)			717		742,885
Avaya, Inc. 6.125%, 09/15/2028(a)			2,343		2,486,039
Cablevision Lightpath LLC 5.625%, 09/15/2028(a)			1,060		1,045,905
Clarivate Science Holdings Corp. 4.875%, 07/01/2029(a)			377		382,981
CommScope Technologies LLC 5.00%, 03/15/2027(a)			220		207,287
CommScope, Inc. 4.75%, 09/01/2029(a)			2,283		2,271,762
6.00%, 03/01/2026(a)			276		285,949
Conduent Business Services LLC/Conduent State & Local Solutions, Inc. 6.00%, 11/01/2029(a)			14		13,796
Elastic NV 4.125%, 07/15/2029(a)			694		686,203
Imola Merger Corp. 4.75%, 05/15/2029(a)			968		992,637
LogMeIn, Inc. 5.50%, 09/01/2027(a)			551		556,854

24

	Principal Amount (000)			U.S. $ Value
NCR Corp. 5.125%, 04/15/2029(a)		U.S.$	3,420	$	3,536,373
5.75%, 09/01/2027(a)			295		308,408
Open Text Holdings, Inc. 4.125%, 02/15/2030(a)			224		230,356
Pitney Bowes, Inc. 6.875%, 03/15/2027(a)			485		503,649
Playtech PLC 4.25%, 03/07/2026(a)		EUR	101		117,563
Playtika Holding Corp. 4.25%, 03/15/2029(a)		U.S.$	1,117		1,095,263
Presidio Holdings, Inc. 4.875%, 02/01/2027(a)			98		101,001
8.25%, 02/01/2028(a)			154		164,621
Rackspace Technology Global, Inc. 3.50%, 02/15/2028(a)			2,555		2,438,638
5.375%, 12/01/2028(a)			82		79,797
Science Applications International Corp. 4.875%, 04/01/2028(a)			105		107,641
Seagate HDD Cayman 3.375%, 07/15/2031			45		43,805
4.091%, 06/01/2029			1,382		1,430,872
4.125%, 01/15/2031			124		129,012
4.75%, 06/01/2023			46		47,993
4.875%, 03/01/2024			209		221,603
Sensata Technologies, Inc. 3.75%, 02/15/2031(a)			1,100		1,097,657
SS&C Technologies, Inc. 5.50%, 09/30/2027(a)			209		218,886
TTM Technologies, Inc. 4.00%, 03/01/2029(a)			466		462,272
Vericast Corp. 11.00%, 09/15/2026(a)			130		137,367
Veritas US, Inc./Veritas Bermuda Ltd. 7.50%, 09/01/2025(a)			2,981		3,094,459
Xerox Corp. 6.75%, 12/15/2039			42		46,904
Xerox Holdings Corp. 5.00%, 08/15/2025(a)			108		114,030
5.50%, 08/15/2028(a)			226		238,141
					26,357,314
Transportation - Airlines – 0.3%
American Airlines Pass Through Trust 3.375%, 05/01/2027			62		60,901
American Airlines, Inc. 11.75%, 07/15/2025(a)			190		236,219
American Airlines, Inc./AAdvantage Loyalty IP Ltd. 5.50%, 04/20/2026(a)			1,111		1,156,233
5.75%, 04/20/2029(a)			975		1,042,680
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd. 5.75%, 01/20/2026(a)			507		532,098
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd. 8.00%, 09/20/2025(a)			440		485,582
					3,513,713

25

	Principal Amount (000)			U.S. $ Value
Transportation - Services – 0.6%
AerCap Global Aviation Trust 6.50%, 06/15/2045(a)		U.S.$	400	$	432,390
Albion Financing 1 SARL/Aggreko Holdings, Inc. 5.25%, 10/15/2026(a)		EUR	625		717,553
6.125%, 10/15/2026(a)		U.S.$	517		521,818
Avis Budget Car Rental LLC/Avis Budget Finance, Inc. 5.375%, 03/01/2029(a)			25		26,338
5.75%, 07/15/2027(a)			1,031		1,074,292
BCP V Modular Services 6.75%, 11/30/2029		EUR	1,214		1,360,508
BCP V Modular Services Finance II PLC 4.75%, 11/30/2028(a)			132		151,785
EC Finance PLC 3.00%, 10/15/2026			302		351,722
Herc Holdings, Inc. 5.50%, 07/15/2027(a)		U.S.$	181		188,429
Loxam SAS 2.875%, 04/15/2026(a)		EUR	301		340,118
PROG Holdings, Inc. 6.00%, 11/15/2029(a)		U.S.$	1,006		1,035,535
United Rentals North America, Inc. 3.875%, 02/15/2031			54		54,839
5.50%, 05/15/2027			418		434,528
					6,689,855
					500,316,227
Financial Institutions – 6.8%
Banking – 2.2%
Alliance Data Systems Corp. 4.75%, 12/15/2024(a)			1,253		1,276,305
7.00%, 01/15/2026(a)			600		630,000
Ally Financial, Inc. Series B 4.70%, 05/15/2026(l)			2,950		3,088,135
Series C 4.70%, 05/15/2028(l)			256		263,885
Banco Bilbao Vizcaya Argentaria SA 5.875%, 05/24/2022(a) (l)		EUR	400		462,886
Series 9 6.50%, 03/05/2025(l)		U.S.$	1,200		1,274,471
Banco Santander SA 6.75%, 04/25/2022(a) (l)		EUR	2,000		2,326,053
CaixaBank SA 5.875%, 10/09/2027(a) (l)			1,000		1,299,716

26

	Principal Amount (000)			U.S. $ Value
Credit Suisse Group AG 6.25%, 12/18/2024(a) (l)		U.S.$	1,404	$	1,497,486
6.375%, 08/21/2026(a) (l)			1,290		1,390,645
7.50%, 07/17/2023(a) (l)			1,820		1,920,674
Discover Financial Services Series D 6.125%, 06/23/2025(l)			3,470		3,812,533
Freedom Mortgage Corp. 6.625%, 01/15/2027(a)			41		40,169
7.625%, 05/01/2026(a)			226		230,799
8.25%, 04/15/2025(a)			222		227,565
Intesa Sanpaolo SpA 4.198%, 06/01/2032(a)			232		234,279
5.017%, 06/26/2024(a)			331		353,192
5.71%, 01/15/2026(a)			1,444		1,598,532
Societe Generale SA 8.00%, 09/29/2025(a) (l)			2,608		3,020,974
					24,948,299
Brokerage – 0.5%
Advisor Group Holdings, Inc. 10.75%, 08/01/2027(a)			950		1,057,282
Jane Street Group/JSG Finance, Inc. 4.50%, 11/15/2029(a)			1,014		1,028,265
Lehman Brothers Holdings, Inc. 6.875%, 05/02/2018(c)			1,690		9,295
LPL Holdings, Inc. 4.375%, 05/15/2031(a)			209		213,835
NFP Corp. 6.875%, 08/15/2028(a)			2,964		2,975,642
					5,284,319
Finance – 1.7%
Air Lease Corp. Series B 4.65%, 06/15/2026(l)			1,229		1,279,511
Aircastle Ltd. 5.25%, 06/15/2026(a) (l)			591		605,775
Castlelake Aviation Finance DAC 5.00%, 04/15/2027(a) (g)			1,036		1,025,066
CNG Holdings, Inc. 12.50%, 06/15/2024(a)			861		815,311
CURO Finance LLC 7.50%, 08/01/2028(a)			1,135		1,139,361
Curo Group Holdings Corp. 7.50%, 08/01/2028(a)			1,475		1,484,077
Enact Holdings, Inc. 6.50%, 08/15/2025(a)			209		228,835
Enova International, Inc. 8.50%, 09/01/2024-09/15/2025(a)			1,456		1,496,048
goeasy Ltd. 4.375%, 05/01/2026(a)			389		397,385

27

	Principal Amount (000)			U.S. $ Value
HighTower Holding, LLC 6.75%, 04/15/2029(a)		U.S.$	2,936	$	3,012,577
Home Point Capital, Inc. 5.00%, 02/01/2026(a)			9		8,339
Icahn Enterprises LP/Icahn Enterprises Finance Corp. 4.375%, 02/01/2029			125		122,721
4.75%, 09/15/2024			137		142,294
ILFC E-Capital Trust II 3.67% (H15T 30 Year + 1.80%), 12/21/2065(a) (i)			2,000		1,678,787
Jefferies Finance LLC/JFIN Co-Issuer Corp. 5.00%, 08/15/2028(a)			350		358,996
LD Holdings Group LLC 6.50%, 11/01/2025(a)			198		195,409
Lincoln Financing SARL 3.625%, 04/01/2024(a)		EUR	390		447,349
Midcap Financial Issuer Trust 5.625%, 01/15/2030(a)		U.S.$	216		216,738
Nationstar Mortgage Holdings, Inc. 5.125%, 12/15/2030(a)			190		189,170
Navient Corp. 4.875%, 03/15/2028			982		980,766
5.00%, 03/15/2027			220		224,300
5.50%, 03/15/2029			79		79,059
5.625%, 08/01/2033			217		206,624
OneMain Finance Corp. 3.50%, 01/15/2027			174		172,290
5.375%, 11/15/2029			124		134,834
8.875%, 06/01/2025			200		214,598
PennyMac Financial Services, Inc. 4.25%, 02/15/2029(a)			41		39,372
5.375%, 10/15/2025(a)			231		237,105
5.75%, 09/15/2031(a)			207		208,918
Quicken Loans LLC/Quicken Loans Co-Issuer, Inc. 3.625%, 03/01/2029(a)			225		226,063
3.875%, 03/01/2031(a)			220		224,128
SLM Corp. 4.20%, 10/29/2025			199		208,433
Springleaf Finance Corp. 7.125%, 03/15/2026			180		205,898
United Wholesale Mortgage LLC 5.50%, 11/15/2025-04/15/2029(a)			418		417,162
5.75%, 06/15/2027(a)			80		80,204
					18,703,503
Insurance – 0.7%
Acrisure LLC/Acrisure Finance, Inc. 7.00%, 11/15/2025(a)			1,488		1,492,713
10.125%, 08/01/2026(a)			1,086		1,196,062

28

	Principal Amount (000)			U.S. $ Value
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer 6.75%, 10/15/2027(a)		U.S.$	396	$	410,849
AmWINS Group, Inc. 4.875%, 06/30/2029(a)			324		327,852
Ardonagh Midco 2 PLC 11.50% (11.50% Cash or 12.75 % PIK), 01/15/2027(a) (b)			1,702		1,879,165
AssuredPartners, Inc. 5.625%, 01/15/2029(a)			2,110		2,060,301
Global Atlantic Fin Co. 4.70%, 10/15/2051(a)			39		39,736
HUB International Ltd. 7.00%, 05/01/2026(a)			292		300,013
MBIA, Inc. 5.70%, 12/01/2034			16		15,826
Molina Healthcare, Inc. 3.875%, 11/15/2030-05/15/2032(a)			431		441,924
					8,164,441
Other Finance – 0.4%
Armor Holdco, Inc. 8.50%, 11/15/2029(a)			1,967		2,053,385
Intrum AB 3.00%, 09/15/2027(a)		EUR	360		403,903
3.125%, 07/15/2024(a)			489		557,859
3.50%, 07/15/2026(a)			705		812,241
4.875%, 08/15/2025			683		806,681
					4,634,069
REITs – 1.3%
ADLER Group SA 2.75%, 11/13/2026(a)			200		191,752
Aedas Homes Opco SLU 4.00%, 08/15/2026			1,580		1,851,263
Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LL 4.50%, 04/01/2027(a)		U.S.$	2,519		2,481,700
5.75%, 05/15/2026(a)			406		421,225
Diversified Healthcare Trust 9.75%, 06/15/2025			953		1,030,933
HAT Holdings I LLC/HAT Holdings II LLC 3.375%, 06/15/2026(a)			222		224,884
Iron Mountain, Inc. 4.875%, 09/15/2027(a)			224		232,197
5.25%, 03/15/2028(a)			1,576		1,646,619
5.625%, 07/15/2032(a)			81		86,755
iStar, Inc. 4.25%, 08/01/2025			228		234,404
JBS USA Food Co. 4.25%, 02/01/2027(a)			163		163,990

29

	Principal Amount (000)			U.S. $ Value
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp. 4.75%, 06/15/2029(a)		U.S.$	99	$	101,501
MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer, Inc. 3.875%, 02/15/2029(a)			56		59,060
4.50%, 09/01/2026			68		72,796
5.625%, 05/01/2024			207		221,377
5.75%, 02/01/2027			970		1,099,847
Neinor Homes SA 4.50%, 10/15/2026(a)		EUR	786		904,193
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer 4.875%, 05/15/2029(a)		U.S.$	1,163		1,191,330
7.50%, 06/01/2025(a)			207		218,425
Realogy Group LLC/Realogy Co-Issuer Corp. 5.75%, 01/15/2029(a)			225		231,172
RHP Hotel Properties LP/RHP Finance Corp. 4.50%, 02/15/2029(a)			118		118,899
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC 4.75%, 04/15/2028(a)			78		77,321
Via Celere Desarrollos 5.25%, 04/01/2026		EUR	771		902,051
VICI Properties LP/VICI Note Co., Inc. 4.25%, 12/01/2026(a)		U.S.$	53		55,187
Vivion Investments SARL 3.00%, 08/08/2024(a)		EUR	200		222,661
					14,041,542
					75,776,173
Utility – 1.4%
Electric – 1.3%
Calpine Corp. 3.75%, 03/01/2031(a)		U.S.$	3,523		3,398,130
5.125%, 03/15/2028(a)			528		536,509
ContourGlobal Power Holdings SA 3.125%, 01/01/2028(a)		EUR	167		187,004
FirstEnergy Corp. Series B 4.75%, 03/15/2023		U.S.$	206		213,429
Series C 3.40%, 03/01/2050			16		15,700
5.35%, 07/15/2047			111		132,311
NextEra Energy Operating Partners LP 4.25%, 07/15/2024(a)			203		211,140
NRG Energy, Inc. 3.375%, 02/15/2029(a)			96		93,968
6.625%, 01/15/2027			7		7,283
Talen Energy Supply LLC 6.50%, 06/01/2025			2,072		822,970
7.25%, 05/15/2027(a)			387		344,943
10.50%, 01/15/2026(a)			2,430		1,049,894

30

	Principal Amount (000)			U.S. $ Value
Vistra Corp. 7.00%, 12/15/2026(a) (l)		U.S.$	835	$	847,180
8.00%, 10/15/2026(a) (l)			1,003		1,060,997
Vistra Operations Co. LLC 4.375%, 05/01/2029(a)			5,124		5,143,356
5.00%, 07/31/2027(a)			200		207,618
					14,272,432
Other Utility – 0.1%
Solaris Midstream Holdings LLC 7.625%, 04/01/2026(a)			1,267		1,333,752
					15,606,184
Total Corporates - Non-Investment Grade (cost $583,476,098)					591,698,584
CORPORATES - INVESTMENT GRADE – 10.7%
Financial Institutions – 6.0%
Banking – 3.4%
Ally Financial, Inc. 8.00%, 11/01/2031			39		54,703
Banco Santander SA 5.179%, 11/19/2025			400		444,656
Bank of America Corp.
Series DD 6.30%, 03/10/2026(l)			3,043		3,429,092
Series Z 6.50%, 10/23/2024(l)			57		62,234
Barclays Bank PLC 6.86%, 06/15/2032(a)(l)			166		224,224
Barclays PLC 7.125%, 06/15/2025(l)		GBP	404		602,396
7.25%, 03/15/2023(a) (l)			219		310,137
BNP Paribas SA 6.75%, 03/14/2022(a) (l)		U.S.$	418		422,084
CIT Group, Inc. 3.929%, 06/19/2024			364		377,270
Citigroup, Inc. 3.875%, 02/18/2026(l)			517		517,489
5.95%, 01/30/2023(l)			2,689		2,771,694
Series W 4.00%, 12/10/2025(l)			413		415,723
Series Y 4.15%, 11/15/2026(l)			731		742,788
Comerica, Inc. 5.625%, 07/01/2025(l)			2,340		2,557,062
Credit Agricole SA 8.125%, 12/23/2025(a) (l)			1,909		2,263,578
Deutsche Bank AG 4.296%, 05/24/2028			400		410,799
5.882%, 07/08/2031			200		234,669

31

	Principal Amount (000)			U.S. $ Value
Fifth Third Bancorp Series L 4.50%, 09/30/2025(l)		U.S.$	235	$	247,954
Goldman Sachs Group, Inc. (The)
Series O 5.30%, 11/10/2026(l)			157		170,524
Series P 5.00%, 11/10/2022(l)			2,134		2,131,474
HSBC Holdings PLC 6.00%, 09/29/2023(a) (l)		EUR	1,819		2,238,991
Series E 4.75%, 07/04/2029(a) (l)			1,595		1,989,593
ING Groep NV 6.50%, 04/16/2025(l)		U.S.$	520		566,454
6.875%, 04/16/2022(a) (l)			250		254,111
Lloyds Banking Group PLC 3.369%, 12/14/2046			443		439,003
7.625%, 06/27/2023(a) (l)		GBP	1,760		2,546,726
Natwest Group PLC Series U 2.544% (LIBOR 3 Month + 2.32%), 09/30/2027(i) (l)		U.S.$	1,100		1,091,984
Nordea Bank Abp 6.625%, 03/26/2026(a) (l)			3,065		3,486,623
Regions Bank/Birmingham AL 6.45%, 06/26/2037			1,500		2,097,916
Standard Chartered PLC 7.75%, 04/02/2023(a) (l)			440		467,033
Swedbank AB Series NC5 5.625%, 09/17/2024(a) (l)			1,000		1,065,854
Truist Financial Corp. Series P 4.95%, 09/01/2025(l)			2,201		2,377,454
UBS Group AG 7.00%, 02/19/2025(a) (l)			620		690,526
UniCredit SpA 5.459%, 06/30/2035(a)			200		217,975
5.861%, 06/19/2032(a)			201		219,692
					38,140,485
Brokerage – 0.1%
Charles Schwab Corp. (The) Series I 4.00%, 06/01/2026(l)			1,251		1,279,684
Finance – 0.7%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust 3.30%, 01/30/2032			1,371		1,395,340
Aircastle Ltd. 2.85%, 01/26/2028(a)			247		248,817
4.25%, 06/15/2026			33		35,382
5.25%, 08/11/2025(a)			2,239		2,461,591

32

	Principal Amount (000)			U.S. $ Value
Aviation Capital Group LLC 3.50%, 11/01/2027(a)		U.S.$	295	$	304,034
4.125%, 08/01/2025(a)			395		417,525
4.375%, 01/30/2024(a)			29		30,430
4.875%, 10/01/2025(a)			319		345,385
Huarong Finance 2017 Co., Ltd. 3.75%, 04/27/2022(a)			215		215,470
4.75%, 04/27/2027(a)			200		205,938
Huarong Finance 2019 Co., Ltd. 3.75%, 05/29/2024(a)			343		346,430
Huarong Finance II Co., Ltd. 4.875%, 11/22/2026(a)			430		447,066
5.50%, 01/16/2025(a)			1,082		1,136,100
					7,589,508
Insurance – 1.5%
Allstate Corp. (The) 6.50%, 05/15/2057			1,657		2,175,257
Centene Corp. 2.625%, 08/01/2031			2,814		2,768,208
3.375%, 02/15/2030			214		218,580
4.625%, 12/15/2029			205		221,235
Liberty Mutual Group, Inc. 4.125%, 12/15/2051(a)			43		43,025
7.80%, 03/15/2037(a)			2,559		3,555,783
MetLife, Inc. 10.75%, 08/01/2039			2,350		3,976,676
Prudential Financial, Inc. 5.20%, 03/15/2044			340		357,783
5.625%, 06/15/2043			1,082		1,126,305
Radian Group, Inc. 6.625%, 03/15/2025			208		230,309
Transatlantic Holdings, Inc. 8.00%, 11/30/2039			1,261		1,970,679
					16,643,840
Other Finance – 0.0%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust 4.45%, 04/03/2026			235		255,169
REITs – 0.3%
MPT Operating Partnership LP/MPT Finance Corp. 4.625%, 08/01/2029			118		124,397
5.00%, 10/15/2027			344		360,175
5.25%, 08/01/2026			137		140,998
Office Properties Income Trust 3.45%, 10/15/2031			1,582		1,536,401
Spirit Realty LP 4.45%, 09/15/2026			21		23,131
Trust Fibra Uno 4.869%, 01/15/2030(a)			605		642,548
					2,827,650
					66,736,336

33

	Principal Amount (000)			U.S. $ Value
Industrial – 4.7%
Basic – 1.2%
Alcoa Nederland Holding BV 5.50%, 12/15/2027(a)		U.S.$	200	$	213,850
6.125%, 05/15/2028(a)			200		215,175
ArcelorMittal SA 6.75%, 03/01/2041			362		488,753
7.00%, 10/15/2039			400		553,414
Arconic Corp. 6.00%, 05/15/2025(a)			889		931,102
Braskem Netherlands Finance BV 4.50%, 01/31/2030(a)			1,342		1,427,217
CF Industries, Inc. 4.95%, 06/01/2043			1,458		1,754,726
5.375%, 03/15/2044			1,092		1,378,375
Freeport-McMoRan, Inc. 4.125%, 03/01/2028			203		210,457
4.375%, 08/01/2028			200		209,843
4.625%, 08/01/2030			203		217,682
5.00%, 09/01/2027			93		97,335
5.25%, 09/01/2029			42		45,917
5.45%, 03/15/2043			719		903,872
Georgia-Pacific LLC 8.875%, 05/15/2031			1		1,549
Glencore Finance Canada Ltd. 6.00%, 11/15/2041(a)			272		360,990
Industrias Penoles SAB de CV 5.65%, 09/12/2049(a)			386		473,164
INEOS Finance PLC 2.875%, 05/01/2026(a)		EUR	230		264,193
MEGlobal Canada ULC 5.875%, 05/18/2030(a)		U.S.$	343		415,309
Nexa Resources SA 6.50%, 01/18/2028(a)			973		1,068,962
Smurfit Kappa Treasury Funding DAC 7.50%, 11/20/2025			238		292,123
Suzano Austria GmbH 7.00%, 03/16/2047(a)			231		291,969
WestRock MWV LLC 7.95%, 02/15/2031			1,000		1,406,779
					13,222,756
Capital Goods – 0.2%
General Electric Co. Series D 3.533% (LIBOR 3 Month + 3.33%), 03/15/2022(i) (l)			1,681		1,661,177
Howmet Aerospace, Inc. 5.90%, 02/01/2027			119		136,021
5.95%, 02/01/2037			121		143,106
Textron Financial Corp. 1.891% (LIBOR 3 Month + 1.74%), 02/15/2042(a) (i)			575		494,562
					2,434,866

34

	Principal Amount (000)			U.S. $ Value
Communications - Media – 0.1%
DIRECTV Holdings LLC/DIRECTV Financing Co., Inc. 5.875%, 08/15/2027(a)		U.S.$	229	$	234,583
Netflix, Inc. 4.875%, 04/15/2028			247		282,193
5.375%, 11/15/2029(a)			177		209,975
5.875%, 11/15/2028			175		210,999
Prosus NV 4.027%, 08/03/2050(a)			331		315,174
ViacomCBS, Inc. 6.25%, 02/28/2057			200		225,500
					1,478,424
Communications - Telecommunications – 0.7%
Hughes Satellite Systems Corp. 5.25%, 08/01/2026			192		210,647
T-Mobile USA, Inc. 2.625%, 02/15/2029			856		842,584
3.375%, 04/15/2029(a)			2,720		2,775,739
3.50%, 04/15/2031			1,338		1,392,864
3.50%, 04/15/2031(a)			2,220		2,301,024
4.75%, 02/01/2028			39		41,057
VEON Holdings BV 3.375%, 11/25/2027(a)			200		195,191
					7,759,106
Consumer Cyclical - Automotive – 0.1%
General Motors Co. 5.20%, 04/01/2045			19		23,511
General Motors Financial Co., Inc. 5.65%, 01/17/2029			30		35,614
Lear Corp. 3.50%, 05/30/2030			3		3,194
4.25%, 05/15/2029			17		18,790
Nissan Motor Co., Ltd. 4.345%, 09/17/2027(a)			1,084		1,171,018
					1,252,127
Consumer Cyclical - Other – 0.6%
Builders FirstSource, Inc. 6.75%, 06/01/2027(a)			164		172,932
MDC Holdings, Inc. 6.00%, 01/15/2043			1,881		2,373,220
Owens Corning 7.00%, 12/01/2036			777		1,100,739

35

	Principal Amount (000)			U.S. $ Value
Resorts World Las Vegas LLC/RWLV Capital, Inc. 4.625%, 04/06/2031(a)		U.S.$	1,100	$	1,096,348
Toll Brothers Finance Corp. 4.875%, 03/15/2027			1,124		1,257,271
					6,000,510
Consumer Cyclical - Retailers – 0.0%
Nordstrom, Inc. 5.00%, 01/15/2044			154		143,666
QVC, Inc. 4.375%, 09/01/2028			5		4,988
4.75%, 02/15/2027			213		218,968
					367,622
Consumer Non-Cyclical – 0.3%
HCA, Inc. 5.375%, 02/01/2025-09/01/2026			344		383,661
5.875%, 02/15/2026			195		220,369
Kraft Heinz Foods Co. 4.875%, 10/01/2049			123		154,919
5.50%, 06/01/2050			178		241,309
Perrigo Finance Unlimited Co. 3.90%, 06/15/2030			405		409,854
4.375%, 03/15/2026			200		213,116
Pilgrim’s Pride Corp. 3.50%, 03/01/2032(a)			1,249		1,266,523
5.875%, 09/30/2027(a)			208		219,610
					3,109,361
Energy – 0.5%
Cenovus Energy, Inc. 6.75%, 11/15/2039			67		91,060
Continental Resources, Inc./OK 5.75%, 01/15/2031(a)			970		1,143,357
Ecopetrol SA 4.625%, 11/02/2031			588		571,125
5.875%, 05/28/2045			117		111,684
6.875%, 04/29/2030			1,035		1,156,095
Enable Midstream Partners LP 4.40%, 03/15/2027			1,466		1,584,343
4.95%, 05/15/2028			239		265,794
Energy Transfer LP 3.90%, 07/15/2026 32					34,485
4.75%, 01/15/2026			25		27,343
Hunt Oil Co. of Peru LLC Sucursal Del Peru 6.375%, 06/01/2028(a)			194		196,092
Oleoducto Central SA 4.00%, 07/14/2027(a)			424		421,562
					5,602,940
Other Industrial – 0.2%
Alfa SAB de CV 5.25%, 03/25/2024(a)			1,580		1,670,159
Fluor Corp. 4.25%, 09/15/2028			206		215,890
					1,886,049

36

	Principal Amount (000)		U.S. $ Value
Services – 0.1%
Expedia Group, Inc. 6.25%, 05/01/2025(a)	U.S.$	176	$	198,649
IHS Markit Ltd. 4.125%, 08/01/2023		202		210,907
4.75%, 02/15/2025(a)		215		233,650
4.75%, 08/01/2028		104		120,249
Verisk Analytics, Inc. 5.50%, 06/15/2045		5		6,738
				770,193
Technology – 0.3%
CDW LLC/CDW Finance Corp. 4.125%, 05/01/2025		457		469,715
Dell International LLC/EMC Corp. 8.35%, 07/15/2046		130		217,717
Microchip Technology, Inc. 4.25%, 09/01/2025		612		635,694
MSCI, Inc. 3.625%, 09/01/2030-11/01/2031(a)		349		361,237
3.875%, 02/15/2031(a)		223		232,785
Nokia Oyj 4.375%, 06/12/2027		177		192,265
6.625%, 05/15/2039		471		651,529
				2,760,942
Transportation - Airlines – 0.4%
American Airlines Pass Through Trust 4.95%, 01/15/2023		100		101,394
Delta Air Lines, Inc. 7.00%, 05/01/2025(a)		1,091		1,248,473
Delta Air Lines, Inc./SkyMiles IP Ltd. 4.75%, 10/20/2028(a)		716		782,474
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd. 6.50%, 06/20/2027(a)		2,484		2,655,337
				4,787,678
				51,432,574
Utility – 0.0%
Electric – 0.0%
FirstEnergy Transmission LLC 4.55%, 04/01/2049(a)		126		144,509
Total Corporates - Investment Grade (cost $105,145,472)				118,313,419

37

	Principal Amount (000)		U.S. $ Value
COLLATERALIZED MORTGAGE OBLIGATIONS – 6.6%
Risk Share Floating Rate – 5.4%
Bellemeade Re Ltd.
Series 2018-3A, Class M2 2.853% (LIBOR 1 Month + 2.75%), 10/25/2028(a) (i)	U.S.$	915	$	916,105
Series 2019-3A, Class M1C 2.052% (LIBOR 1 Month + 1.95%), 07/25/2029(a) (i)		1,555		1,555,000
Series 2019-4A, Class M2 2.952% (LIBOR 1 Month + 2.85%), 10/25/2029(a) (i)		475		472,304
Connecticut Avenue Securities Trust
Series 2018-R07, Class 1B1 4.452% (LIBOR 1 Month + 4.35%), 04/25/2031(a) (i)		441		454,215
Series 2019-R05, Class 1M2 2.103% (LIBOR 1 Month + 2.00%), 07/25/2039(a) (i)		52		51,683
Eagle Re Ltd.
Series 2018-1, Class M2 3.102% (LIBOR 1 Month + 3.00%), 11/25/2028(a) (i)		2,764		2,778,140
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes
Series 2013-DN2, Class M2 4.353% (LIBOR 1 Month + 4.25%), 11/25/2023(i)		892		919,423
Series 2014-DN3, Class M3 4.103% (LIBOR 1 Month + 4.00%), 08/25/2024(i)		57		58,482
Series 2014-HQ1, Class M3 4.203% (LIBOR 1 Month + 4.10%), 08/25/2024(i)		107		107,448
Series 2014-HQ2, Class M3 3.853% (LIBOR 1 Month + 3.75%), 09/25/2024(i)		1,945		2,004,465
Series 2014-HQ3, Class M3 4.853% (LIBOR 1 Month + 4.75%), 10/25/2024(i)		121		121,076
Series 2015-DN1, Class B 11.603% (LIBOR 1 Month + 11.50%), 01/25/2025(i)		1,642		1,669,539
Series 2015-DNA1, Class B 9.303% (LIBOR 1 Month + 9.20%), 10/25/2027(i)		593		672,867
Series 2015-DNA1, Class M3 3.403% (LIBOR 1 Month + 3.30%), 10/25/2027(i)		81		82,702
Series 2015-DNA2, Class B 7.653% (LIBOR 1 Month + 7.55%), 12/25/2027(i)		1,449		1,552,451
Series 2015-DNA3, Class B 9.453% (LIBOR 1 Month + 9.35%), 04/25/2028(i)		1,017		1,098,333

38

	Principal Amount (000)			U.S. $ Value
Series 2015-DNA3, Class M3 4.803% (LIBOR 1 Month + 4.70%), 04/25/2028(i)		U.S.$	316	$	325,748
Series 2015-HQ1, Class B 10.853% (LIBOR 1 Month + 10.75%), 03/25/2025(i)			2,317		2,365,891
Series 2015-HQA1, Class B 8.903% (LIBOR 1 Month + 8.80%), 03/25/2028(i)			1,003		1,059,586
Series 2016-DNA2, Class B 10.603% (LIBOR 1 Month + 10.50%), 10/25/2028(i)			855		980,710
Series 2016-DNA3, Class B 11.353% (LIBOR 1 Month + 11.25%), 12/25/2028(i)			2,754		3,213,257
Series 2016-DNA3, Class M3 5.103% (LIBOR 1 Month + 5.00%), 12/25/2028(i)			687		715,949
Series 2016-DNA4, Class B 8.703% (LIBOR 1 Month + 8.60%), 03/25/2029(i)			393		418,585
Series 2016-DNA4, Class M3 3.903% (LIBOR 1 Month + 3.80%), 03/25/2029(i)			1,286		1,325,068
Series 2016-HQA2, Class B 11.603% (LIBOR 1 Month + 11.50%), 11/25/2028(i)			421		495,035
Series 2016-HQA2, Class M3 5.253% (LIBOR 1 Month + 5.15%), 11/25/2028(i)			702		725,946
Series 2017-DNA1, Class B1 5.053% (LIBOR 1 Month + 4.95%), 07/25/2029(i)			310		334,514
Series 2017-DNA2, Class B1 5.253% (LIBOR 1 Month + 5.15%), 10/25/2029(i)			978		1,064,911
Series 2017-DNA2, Class M2 3.553% (LIBOR 1 Month + 3.45%), 10/25/2029(i)			1,374		1,413,755
Series 2017-DNA3, Class B1 4.553% (LIBOR 1 Month + 4.45%), 03/25/2030(i)			615		654,910
Series 2017-HQA1, Class M2 3.653% (LIBOR 1 Month + 3.55%), 08/25/2029(i)			1,662		1,702,677
Series 2018-HQA1, Class M2 2.403% (LIBOR 1 Month + 2.30%), 09/25/2030(i)			369		373,055
Series 2018-HQA2, Class M2 2.403% (LIBOR 1 Month + 2.30%), 10/25/2048(a) (i)			2,257		2,283,292
Series 2019-DNA1, Class M2 2.753% (LIBOR 1 Month + 2.65%), 01/25/2049(a) (i)			409		413,852
Series 2019-DNA3, Class M2 2.153% (LIBOR 1 Month + 2.05%), 07/25/2049(a) (i)			444		447,346
Series 2020-HQA2, Class M2 3.203% (LIBOR 1 Month + 3.10%), 03/25/2050(a) (i)			63		63,807

39

	Principal Amount (000)		U.S. $ Value
Federal National Mortgage Association Connecticut Avenue Securities
Series 2014-C01, Class M2 4.503% (LIBOR 1 Month + 4.40%), 01/25/2024(i)	U.S.$	865	$	896,171
Series 2014-C04, Class 1M2 5.003% (LIBOR 1 Month + 4.90%), 11/25/2024(i)		1,312		1,365,636
Series 2015-C02, Class 1M2 4.103% (LIBOR 1 Month + 4.00%), 05/25/2025(i)		218		222,200
Series 2015-C03, Class 1M2 5.103% (LIBOR 1 Month + 5.00%), 07/25/2025(i)		650		667,657
Series 2015-C04, Class 1M2 5.803% (LIBOR 1 Month + 5.70%), 04/25/2028(i)		1,489		1,568,427
Series 2015-C04, Class 2M2 5.653% (LIBOR 1 Month + 5.55%), 04/25/2028(i)		451		469,958
Series 2016-C01, Class 1B 11.853% (LIBOR 1 Month + 11.75%), 08/25/2028(i)		676		758,135
Series 2016-C01, Class 1M2 6.853% (LIBOR 1 Month + 6.75%), 08/25/2028(i)		1,574		1,651,540
Series 2016-C01, Class 2M2 7.053% (LIBOR 1 Month + 6.95%), 08/25/2028(i)		282		296,990
Series 2016-C02, Class 1B 12.353% (LIBOR 1 Month + 12.25%), 09/25/2028(i)		447		515,346
Series 2016-C02, Class 1M2 6.103% (LIBOR 1 Month + 6.00%), 09/25/2028(i)		902		931,892
Series 2016-C03, Class 1B 11.853% (LIBOR 1 Month + 11.75%), 10/25/2028(i)		372		425,959
Series 2016-C03, Class 2B 12.853% (LIBOR 1 Month + 12.75%), 10/25/2028(i)		631		739,772
Series 2016-C04, Class 1B 10.353% (LIBOR 1 Month + 10.25%), 01/25/2029(i)		1,479		1,658,237
Series 2016-C05, Class 2B 11.244% (LIBOR 1 Month + 10.75%), 01/25/2029(i)		1,818		1,955,045
Series 2016-C06, Class 1B 9.353% (LIBOR 1 Month + 9.25%), 04/25/2029(i)		1,277		1,398,478

40

	Principal Amount (000)		U.S. $ Value
Series 2016-C07, Class 2B 9.603% (LIBOR 1 Month + 9.50%), 05/25/2029(i)	U.S.$	1,556	$	1,667,906
Series 2016-C07, Class 2M2 4.453% (LIBOR 1 Month + 4.35%), 05/25/2029(i)		148		153,458
Series 2017-C01, Class 1B1 5.853% (LIBOR 1 Month + 5.75%), 07/25/2029(i)		460		504,084
Series 2017-C01, Class 1M2 3.653% (LIBOR 1 Month + 3.55%), 07/25/2029(i)		905		927,041
Series 2017-C03, Class 1B1 4.953% (LIBOR 1 Month + 4.85%), 10/25/2029(i)		312		338,439
Series 2017-C03, Class 1M2 3.103% (LIBOR 1 Month + 3.00%), 10/25/2029(i)		150		153,246
Series 2017-C05, Class 1B1 3.703% (LIBOR 1 Month + 3.60%), 01/25/2030(i)		319		332,509
Series 2017-C06, Class 2M2 2.903% (LIBOR 1 Month + 2.80%), 02/25/2030(i)		25		25,552
Series 2018-C01, Class 1B1 3.653% (LIBOR 1 Month + 3.55%), 07/25/2030(i)		1,102		1,137,086
Home Re Ltd. Series 2018-1, Class M2 3.102% (LIBOR 1 Month + 3.00%), 10/25/2028(a) (i)		988		993,534
JPMorgan Madison Avenue Securities Trust Series 2015-CH1, Class M2 5.603% (LIBOR 1 Month + 5.50%), 10/25/2025(h) (i)		533		537,356
Mortgage Insurance-Linked Notes Series 2019-1, Class M2 3.002% (LIBOR 1 Month + 2.90%), 11/26/2029(a) (i)		1,326		1,325,647
Radnor Re Ltd. Series 2018-1, Class M2 2.802% (LIBOR 1 Month + 2.70%), 03/25/2028(a) (i)		150		150,000
STACR Trust Series 2018-DNA3, Class M2 2.203% (LIBOR 1 Month + 2.10%), 09/25/2048(a) (i)		353		356,424
Traingle Re Ltd. Series 2020-1, Class M2 5.702% (LIBOR 1 Month + 5.60%), 10/25/2030(a) (i)		480		491,684
Wells Fargo Credit Risk Transfer Securities Trust Series 2015-WF1, Class 2M2 5.603% (LIBOR 1 Month + 5.50%), 11/25/2025(h) (i)		180		178,659
				59,686,195

41

	Principal Amount (000)		U.S. $ Value
Non-Agency Fixed Rate – 0.5%
Alternative Loan Trust
Series 2006-24CB, Class A15 5.75%, 08/25/2036	U.S.$	561	$	422,041
Series 2006-42, Class 1A6 6.00%, 01/25/2047		502		404,307
Series 2006-HY12, Class A5 3.061%, 08/25/2036		628		632,991
Series 2006-J1, Class 1A10 5.50%, 02/25/2036		651		581,721
Series 2006-J5, Class 1A1 6.50%, 09/25/2036		561		438,243
Bear Stearns ARM Trust
Series 2007-3, Class 1A1 3.179%, 05/25/2047		97		95,929
Series 2007-4, Class 22A1 3.274%, 06/25/2047		413		412,388
ChaseFlex Trust Series 2007-1, Class 1A3 6.50%, 02/25/2037		423		221,160
CHL Mortgage Pass-Through Trust Series 2007-HY4, Class 1A1 2.911%, 09/25/2047		105		100,981
Citigroup Mortgage Loan Trust Series 2007-AR4, Class 1A1A 3.173%, 03/25/2037		63		63,273
CitiMortgage Alternative Loan Trust Series 2007-A3, Class 1A4 5.75%, 03/25/2037		528		530,013
CSMC Mortgage-Backed Trust Series 2006-7, Class 3A12 6.25%, 08/25/2036		201		116,656
Residential Accredit Loans, Inc. Trust Series 2005-QS14, Class 3A1 6.00%, 09/25/2035		245		244,591
Residential Asset Securitization Trust Series 2006-A8, Class 3A4 6.00%, 08/25/2036		134		90,957
Washington Mutual Mortgage Pass-Through Certificates Trust Series 2006-9, Class A4 4.299%, 10/25/2036		1,282		489,192
Wells Fargo Mortgage Backed Securities Trust Series 2007-AR7, Class A1 2.741%, 12/28/2037		408		407,080
				5,251,523

42

	Principal Amount (000)			U.S. $ Value
Non-Agency Floating Rate – 0.4%
Alternative Loan Trust Series 2007-7T2, Class A3 0.702% (LIBOR 1 Month + 0.60%), 04/25/2037(i)		U.S.$	2,114	$	641,259
Citigroup Mortgage Loan Trust Series 2005-8, Class 2A2 4.698% (4.80% – LIBOR 1 Month), 09/25/2035(i) (m)			6		19
Countrywide Home Loan Mortgage Pass-Through Trust Series 2007-13, Class A7 0.702% (LIBOR 1 Month + 0.60%), 08/25/2037(i)			312		125,855
First Horizon Alternative Mortgage Securities Trust
Series 2007-FA2, Class 1A10 0.352% (LIBOR 1 Month + 0.25%), 04/25/2037(i)			232		59,532
Series 2007-FA2, Class 1A6 5.448% (5.55% – LIBOR 1 Month), 04/25/2037(i) (m)			78		20,008
Lehman XS Trust Series 2007-10H, Class 2AIO 6.901% (7.00% – LIBOR 1 Month), 07/25/2037(i) (m)			157		27,122
Residential Accredit Loans, Inc. Trust Series 2006-QS18, Class 2A2 6.448% (6.55% – LIBOR 1 Month), 12/25/2036(i) (m)			2,148		350,228
Wachovia Mortgage Loan Trust Series 2006-ALT1, Class A2 0.462% (LIBOR 1 Month + 0.36%), 01/25/2037(i)			6,097		3,108,953
					4,332,976
Agency Fixed Rate – 0.3%
Federal Home Loan Mortgage Corp. REMICs Series 4767, Class KI 6.00%, 03/15/2048(n)			12,377		2,624,401
Freddie Mac Strips Series 247, Class 54 5.50%, 04/15/2036(n)			5,645		1,180,389
					3,804,790
Total Collateralized Mortgage Obligations (cost $72,304,266)					73,075,484
EMERGING MARKETS - SOVEREIGNS – 6.4%
Angola – 0.4%
Angolan Government International Bond 8.00%, 11/26/2029(a)			835		822,632
8.25%, 05/09/2028(a)			400		400,700
9.125%, 11/26/2049(a)			399		381,369
9.375%, 05/08/2048(a)			222		216,630
9.50%, 11/12/2025(a)			2,318		2,479,246
					4,300,577

43

	Principal Amount (000)		U.S. $ Value
Argentina – 0.8%
Argentine Republic Government International Bond 0.50%, 07/09/2030	U.S.$	6,045	$	2,130,944
1.00%, 07/09/2029		1,218		441,491
1.125%, 07/09/2035		16,172		5,215,436
2.00%, 01/09/2038		1,465		559,632
2.50%, 07/09/2041		623		220,562
				8,568,065
Bahrain – 0.5%
Bahrain Government International Bond 5.45%, 09/16/2032(a)		1,146		1,110,187
5.625%, 09/30/2031(a)		1,193		1,171,228
6.75%, 09/20/2029(a)		528		569,184
7.00%, 10/12/2028(a)		1,253		1,357,939
CBB International Sukuk Programme Co. WLL 6.25%, 11/14/2024(a)		1,116		1,198,863
				5,407,401
Dominican Republic – 0.6%
Dominican Republic International Bond 5.50%, 01/27/2025(a)		149		160,920
8.625%, 04/20/2027(a)		5,719		6,789,525
				6,950,445
Ecuador – 0.2%
Ecuador Government International Bond Zero Coupon, 07/31/2030(a)		371		206,729
0.50%, 07/31/2040(a)		864		499,340
5.00%, 07/31/2030(a)		1,426		1,174,629
				1,880,698
Egypt – 0.7%
Egypt Government International Bond 6.125%, 01/31/2022(a)		3,559		3,572,168
7.625%, 05/29/2032(a)		1,075		1,015,230
8.50%, 01/31/2047(a)		1,378		1,218,428
8.70%, 03/01/2049(a)		998		882,731
8.875%, 05/29/2050(a)		1,096		991,551
				7,680,108
El Salvador – 0.2%
El Salvador Government International Bond 5.875%, 01/30/2025(a)		160		98,680
7.125%, 01/20/2050(a)		1,588		864,766
7.625%, 09/21/2034-02/01/2041(a)		1,327		742,358
7.75%, 01/24/2023(a)		339		266,814
				1,972,618

44

	Principal Amount (000)			U.S. $ Value
Gabon – 0.3%
Gabon Government International Bond 6.625%, 02/06/2031(a)		U.S.$	2,986	$	2,880,184
Ghana – 0.3%
Ghana Government International Bond 6.375%, 02/11/2027(a)			2,087		1,752,428
8.627%, 06/16/2049(a)			215		169,420
8.95%, 03/26/2051(a)			858		685,488
10.75%, 10/14/2030(a)			780		871,611
					3,478,947
Ivory Coast – 0.5%
Ivory Coast Government International Bond 4.875%, 01/30/2032(a)		EUR	1,223		1,339,997
5.125%, 06/15/2025(a)			168		206,725
5.875%, 10/17/2031(a)			1,880		2,196,298
6.125%, 06/15/2033(a)		U.S.$	752		791,856
6.375%, 03/03/2028(a)			966		1,046,178
6.625%, 03/22/2048(a)		EUR	331		374,323
					5,955,377
Nigeria – 0.7%
Nigeria Government International Bond 6.375%, 07/12/2023(a)		U.S.$	740		763,162
6.50%, 11/28/2027(a)			388		386,060
7.625%, 11/21/2025-11/28/2047(a)			4,965		4,942,107
7.696%, 02/23/2038(a)			810		746,253
7.875%, 02/16/2032(a)			489		480,467
					7,318,049
Oman – 0.3%
Oman Government International Bond 4.125%, 01/17/2023(a)			1,832		1,861,312
4.875%, 02/01/2025(a)			991		1,030,937
					2,892,249
Senegal – 0.3%
Senegal Government International Bond 6.25%, 05/23/2033(a)			593		607,825
6.75%, 03/13/2048(a)			3,345		3,272,455
					3,880,280

45

	Principal Amount (000)			U.S. $ Value
South Africa – 0.0%
Republic of South Africa Government International Bond 5.75%, 09/30/2049		U.S.$	200	$	191,788
Ukraine – 0.6%
Ukraine Government International Bond 7.253%, 03/15/2033(a)			1,886		1,654,965
7.375%, 09/25/2032(a)			1,400		1,247,750
7.75%, 09/01/2022-09/01/2023(a)			4,416		4,316,962
					7,219,677
Venezuela – 0.0%
Venezuela Government International Bond 9.25%, 09/15/2027(c) (k)			7,978		478,680
9.25%, 05/07/2028(a) (c) (k)			300		18,000
					496,680
Total Emerging Markets - Sovereigns (cost $80,866,416)					71,073,143
BANK LOANS – 5.1%
Industrial – 4.6%
Capital Goods – 0.6%
ACProducts Holdings, Inc. 4.750% (LIBOR 3 Month + 4.25%), 05/17/2028(o)			1,967		1,937,608
Apex Tool Group, LLC 6.750% (LIBOR 1 Month + 5.50%), 08/01/2024(o)			2,160		2,115,566
Chariot Buyer LLC 4.000% (LIBOR 1 Month + 3.50%), 11/03/2028(o)			160		159,800
Granite US Holdings Corporation 4.132% (LIBOR 3 Month + 4.00%), 09/30/2026(f) (o)			1,524		1,522,286
TransDigm, Inc. 2.354% (LIBOR 1 Month + 2.25%), 12/09/2025(o)			346		340,668
Welbilt, Inc. (fka Manitowoc Foodservice, Inc.) 2.604% (LIBOR 1 Month + 2.50%), 10/23/2025(o)			110		109,030
					6,184,958
Communications - Media – 0.2%
Advantage Sales & Marketing Inc. 5.250% (LIBOR 3 Month + 4.50%), 10/28/2027(o)			1,733		1,732,500
Clear Channel Outdoor Holdings, Inc. 3.629% (LIBOR 3 Month + 3.50%), 08/21/2026(o)			317		312,815
iHeartCommunications, Inc. (fka Clear Channel Communications, Inc.) 3.104% (LIBOR 1 Month + 3.00%), 05/01/2026(o)			355		352,241
					2,397,556

46

	Principal Amount (000)		U.S. $ Value
Communications - Telecommunications – 0.7%
Crown Subsea Communications Holding, Inc. 5.500% (LIBOR 1 Month + 4.75%), 04/27/2027(o)	U.S.$	1,515	$	1,519,633
DIRECTV Financing, LLC 5.750% (LIBOR 3 Month + 5.00%), 08/02/2027(o)		684		684,448
Intrado Corporation 5.000% (LIBOR 3 Month + 4.00%), 10/10/2024(o)		974		922,768
Proofpoint, Inc. 6.750% (LIBOR 3 Month + 6.25%), 08/31/2029(o)		2,480		2,501,700
Zacapa SARL 4.724% (LIBOR 3 Month + 4.50%), 07/02/2025(o)		2,142		2,141,422
				7,769,971
Consumer Cyclical - Automotive – 0.0%
Clarios Global LP 3.354% (LIBOR 1 Month + 3.25%), 04/30/2026(o)		431		428,146
Consumer Cyclical - Other – 0.2%
Caesars Resort Collection, LLC 2.854% (LIBOR 1 Month + 2.75%), 12/23/2024(o)		1,373		1,364,306
Golden Nugget Online Gaming, Inc. 13.000% (LIBOR 1 Month + 12.00%), 10/04/2023(f) (o)		22		23,318
Scientific Games International, Inc. 2.854% (LIBOR 1 Month + 2.75%), 08/14/2024(o)		851		847,642
				2,235,266
Consumer Cyclical - Restaurants – 0.1%
IRB Holding Corp. 3.750% (LIBOR 3 Month + 2.75%), 02/05/2025(o)		835		833,325
Consumer Cyclical - Retailers – 0.2%
Great Outdoors Group, LLC 4.500% (LIBOR 3 Month + 3.75%), 03/06/2028(o)		482		481,760
PetSmart LLC 4.500% (LIBOR 3 Month + 3.75%), 02/11/2028(o)		2,224		2,225,826
				2,707,586

47

	Principal Amount (000)		U.S. $ Value
Consumer Non-Cyclical – 0.7%
Gainwell Acquisition Corp. 4.750% (LIBOR 3 Month + 4.00%), 10/01/2027(o)	U.S.$	1,228	$	1,229,442
Global Medical Response, Inc. 5.250% (LIBOR 3 Month + 4.25%), 03/14/2025(o)		898		893,757
Kronos Acquisition Holdings, Inc. 4.250% (LIBOR 3 Month + 3.75%), 12/22/2026(o)		782		757,417
LifePoint Health, Inc. (fka Regionalcare Hospital Partners Holdings, Inc.) 3.852% (LIBOR 1 Month + 3.75%), 11/16/2025(o)		793		791,153
Mallinckrodt International Finance S.A. 6.000% (LIBOR 3 Month + 5.25%), 09/24/2024(o)		867		809,633
Padagis LLC 5.250% (LIBOR 3 Month + 4.75%), 07/06/2028(f) (o)		471		467,647
U.S. Renal Care, Inc. 5.090% (LIBOR 3 Month + 5.00%), 06/26/2026(o)		1,535		1,489,218
US Radiology Specialists, Inc. (US Outpatient Imaging Services, Inc.) 5.750% (LIBOR 3 Month + 5.25%), 12/15/2027(o)		1,965		1,960,846
				8,399,113
Energy – 0.4%
CITGO Petroleum Corporation 7.250% (LIBOR 3 Month + 6.25%), 03/28/2024(o)		514		513,171
GIP II Blue Holding, L.P. 5.500% (LIBOR 3 Month + 4.50%), 09/29/2028(o)		2,969		2,957,766
Parkway Generation, LLC 11/05/2028(p)		880		873,673
11/05/2028(f) (p)		120		119,250
				4,463,860
Other Industrial – 0.3%
American Tire Distributors, Inc. 7.000% (LIBOR 3 Month + 6.25%), 10/20/2028(o)		2,114		2,122,588
Dealer Tire, LLC 4.354% (LIBOR 1 Month + 4.25%), 12/12/2025(o)		294		293,559

48

	Principal Amount (000)		U.S. $ Value
FCG Acquisitions, Inc. 7.250% (LIBOR 3 Month + 6.75%), 03/30/2029(f) (o)	U.S.$	640	$	638,400
Rockwood Service Corporation 4.104% (LIBOR 1 Month + 4.00%), 01/23/2027(f) (o)		85		84,733
				3,139,280
Services – 0.2%
Amentum Government Services Holdings LLC 3.590% (LIBOR 1 Month + 3.50%), 01/29/2027(o)		106		104,031
3.605% (LIBOR 1 Month + 3.50%), 01/29/2027(o)		210		206,115
Team Health Holdings, Inc. 3.750% (LIBOR 1 Month + 2.75%), 02/06/2024(o)		729		694,875
Verscend Holding Corp. 4.104% (LIBOR 1 Month + 4.00%), 08/27/2025(o)		752		750,699
				1,755,720
Technology – 1.0%
Ascend Learning, LLC 6.250% (LIBOR 3 Month + 5.75%), 12/10/2029(o)		840		841,403
athenahealth, Inc. 4.400% (LIBOR 3 Month + 4.25%), 02/11/2026(o)		2,001		1,998,676
Banff Guarantor Inc. 6.000% (LIBOR 3 Month + 5.50%), 02/27/2026(o)		690		695,748
Boxer Parent Company, Inc. 3.974% (LIBOR 3 Month + 3.75%), 10/02/2025(o)		1,501		1,490,908
Endurance International Group Holdings, Inc. 4.250% (LIBOR 3 Month + 3.50%), 02/10/2028(o)		1,984		1,965,193
Loyalty Ventures, Inc. 5.000% (LIBOR 1 Month + 4.50%), 11/03/2027(o)		1,741		1,729,139
MedAssets Software Intermediate Holdings, Inc. 11/19/2029(p)		660		656,904
Peraton Corp. 4.50% (LIBOR 1 Month + 3.75%), 02/01/2028(o)		635		634,971
Presidio Holdings Inc. 3.610% (LIBOR 1 Month + 3.50%), 01/22/2027(o)		20		19,453
3.630% (LIBOR 3 Month + 3.50%), 01/22/2027(o)		373		371,597
Veritas US, Inc. 6.000% (LIBOR 3 Month + 5.00%), 09/01/2025(o)		582		581,088
				10,985,080
				51,299,861

49

	Principal Amount (000)			U.S. $ Value
Financial Institutions – 0.3%
Finance – 0.0%
Orbit Private Holdings I Ltd 5.000% (LIBOR 3 Month + 4.50%), 12/11/2028(o)		U.S.$	240	$	240,401
Insurance – 0.3%
Jones DesLauriers Insurance Management, Inc. 8.000% (CDOR 3 Month + 7.50%), 03/26/2029(f) (o)		CAD	1,604		1,272,790
Sedgwick Claims Management Services, Inc. (Lightning Cayman Merger Sub, Ltd.) 3.854% (LIBOR 1 Month + 3.75%), 09/03/2026(o)		U.S.$	1,377		1,374,642
					2,647,432
					2,887,833
Utility – 0.2%
Electric – 0.2%
Generation Bridge, LLC 5.750% (LIBOR 3 Month + 5.00%), 12/01/2028(f) (o)			640		641,600
Granite Generation LLC 4.750% (LIBOR 3 Month + 3.75%), 11/09/2026(o)			313		308,119
4.750% (LIBOR 1 Month + 3.75%), 11/09/2026(o)			1,583		1,557,764
					2,507,483
Total Bank Loans (cost $56,473,047)					56,695,177
EMERGING MARKETS - CORPORATE BONDS – 5.1%
Industrial – 4.1%
Basic – 1.4%
Braskem Idesa SAPI 6.99%, 02/20/2032(a)			652		655,056
7.45%, 11/15/2029(a)			1,010		1,049,327
Cia de Minas Buenaventura SAA 5.50%, 07/23/2026(a)			565		550,451
CSN Inova Ventures 6.75%, 01/28/2028(a)			2,644		2,775,043
Eldorado Gold Corp. 6.25%, 09/01/2029(a)			986		998,818

50

	Principal Amount (000)		U.S. $ Value
First Quantum Minerals Ltd. 6.875%, 10/15/2027(a)	U.S.$	1,215	$	1,303,088
7.25%, 04/01/2023(a)		2,611		2,641,190
7.50%, 04/01/2025(a)		261		268,667
Indika Energy Capital IV Pte Ltd. 8.25%, 10/22/2025(a)		1,431		1,488,240
OCP SA 3.75%, 06/23/2031(a)		403		391,792
Stillwater Mining Co. 4.00%, 11/16/2026(a)		319		312,237
4.50%, 11/16/2029(a)		309		296,640
Vedanta Resources Finance II PLC 13.875%, 01/21/2024(a)		2,112		2,235,156
Volcan Cia Minera SAA 4.375%, 02/11/2026(a)		207		199,729
				15,165,434
Capital Goods – 0.4%
Cemex SAB de CV 5.125%, 06/08/2026(a)(l)		505		522,675
7.375%, 06/05/2027(a)		424		466,877
Embraer Netherlands Finance BV 5.40%, 02/01/2027		918		956,441
6.95%, 01/17/2028(a)		724		802,418
Ihs Holding Ltd. 5.625%, 11/29/2026(a)		402		405,015
6.25%, 11/29/2028(a)		383		386,830
Klabin Austria GmbH 7.00%, 04/03/2049(a)		846		973,323
Odebrecht Holdco Finance Ltd. Zero Coupon, 09/10/2058(h)		2,661		14,105
				4,527,684
Communications - Media – 0.0%
Globo Comunicacao e Participacoes SA 4.875%, 01/22/2030(a)		481		467,111
Communications - Telecommunications – 0.3%
C&W Senior Financing DAC 6.875%, 09/15/2027(a)		223		231,978
Digicel Group Holdings Ltd. 7.00%, 01/18/2022(b) (h) (l)		91		79,738
8.00% (5.00% Cash and 3.00% PIK), 04/01/2025(a) (b)		33		30,263
10.00% (8.00% Cash and 2.00% PIK), 04/01/2024(b)		1,637		1,639,550
Digicel International Finance Ltd./Digicel international Holdings Ltd. 8.75%, 05/25/2024(a)		657		676,172
MTN Mauritius Investments Ltd. 6.50%, 10/13/2026(a)		380		424,246
Sable International Finance Ltd. 5.75%, 09/07/2027(a)		555		566,527
				3,648,474

51

	Principal Amount (000)			U.S. $ Value
Consumer Cyclical - Other – 0.6%
Melco Resorts Finance Ltd. 5.625%, 07/17/2027(a)		U.S.$	965	$	953,420
MGM China Holdings Ltd. 4.75%, 02/01/2027(a)			200		191,250
5.25%, 06/18/2025(a)			222		219,197
5.375%, 05/15/2024(a)			398		396,334
5.875%, 05/15/2026(a)			414		414,595
Sazka Group AS 3.875%, 02/15/2027(a)		EUR	170		192,517
Studio City Finance Ltd. 5.00%, 01/15/2029(a)		U.S.$	609		547,072
6.00%, 07/15/2025(a)			448		432,404
6.50%, 01/15/2028(a)			423		408,195
Wynn Macau Ltd. 4.875%, 10/01/2024(a)			286		268,089
5.50%, 01/15/2026-10/01/2027(a)			1,481		1,377,330
5.625%, 08/26/2028(a)			717		660,088
					6,060,491
Consumer Cyclical - Retailers – 0.0%
K2016470219 South Africa Ltd. 3.00%, 12/31/2022(b) (d) (f) (h)			1,068		0
K2016470260 South Africa Ltd. 25.00%, 12/31/2022(b) (d) (f) (h)			609		0
					0
Consumer Non-Cyclical – 0.4%
Teva Pharmaceutical Finance Netherlands II BV 3.75%, 05/09/2027		EUR	446		504,851
4.375%, 05/09/2030			1,000		1,123,771
Teva Pharmaceutical Finance Netherlands III BV 4.75%, 05/09/2027		U.S.$	517		514,027
5.125%, 05/09/2029			517		506,820
7.125%, 01/31/2025			1,040		1,111,045
Tonon Luxembourg SA 6.50% (0.50% Cash and 6.00% PIK), 10/31/2024(b) (c) (d) (f) (h) (k)			621		0
Ulker Biskuvi Sanayi AS 6.95%, 10/30/2025(a)			327		308,361
USJ Acucar e Alcool SA 9.875%, 11/09/2023(a) (c) (k)			670		341,279
Virgolino de Oliveira Finance SA 10.50%, 01/28/2018(c) (e) (f) (h)			4,090		17,008
10.875%, 05/15/2018(c) (e) (f) (h)			480		—
11.75%, 02/09/2022(c) (f) (h) (k)			1,620		8,080
					4,435,242

52

	Principal Amount (000)		U.S. $ Value
Energy – 0.8%
Cosan SA 5.50%, 09/20/2029(a)	U.S.$	461	$	479,815
Investment Energy Resources Ltd. 6.25%, 04/26/2029(a)		403		432,721
Kosmos Energy Ltd. 7.50%, 03/01/2028(a)		545		512,300
7.75%, 05/01/2027(a)		200		192,250
Leviathan Bond Ltd. 5.75%, 06/30/2023(a)		190		195,201
6.50%, 06/30/2027(a)		1,197		1,281,077
Medco Platinum Road Pte Ltd. 6.75%, 01/30/2025(a)		503		513,154
MV24 Capital BV 6.748%, 06/01/2034(a)		501		517,274
Peru LNG SRL 5.375%, 03/22/2030(a)		1,664		1,428,752
Petrobras Global Finance BV 5.60%, 01/03/2031		1,584		1,686,960
8.75%, 05/23/2026		235		285,202
SEPLAT Energy PLC 7.75%, 04/01/2026(a)		581		578,095
SierraCol Energy Andina LLC 6.00%, 06/15/2028(a)		558		523,927
				8,626,728
Services – 0.1%
Bidvest Group UK PLC (The) 3.625%, 09/23/2026(a)		454		450,595
StoneCo Ltd. 3.95%, 06/16/2028(a)		309		271,109
				721,704
Technology – 0.1%
CA Magnum Holdings 5.375%, 10/31/2026(a)		1,549		1,601,356
				45,254,224
Financial Institutions – 0.6%
Banking – 0.1%
Fidelity Bank PLC 10.50%, 10/16/2022(a)		550		568,838
Finance – 0.0%
Global Aircraft Leasing Co., Ltd. 6.50% (6.50% Cash or 7.25% PIK), 09/15/2024(a) (b)		232		224,046

53

	Principal Amount (000)			U.S. $ Value
Insurance – 0.0%
Highlands Holdings Bond Issuer Ltd./Highlands Holdings Bond Co-Issuer, Inc. 7.625% (7.625% Cash or 8.375% PIK), 10/15/2025(a) (b)		U.S.$	416	$	438,701
Other Finance – 0.0%
OEC Finance Ltd. 4.375%, 10/25/2029(a) (b)			188		6,007
5.25%, 12/27/2033(a) (b)			598		17,927
7.125%, 12/26/2046(a) (b)			1,590		48,966
					72,900
REITs – 0.5%
Agile Group Holdings Ltd. 5.50%, 05/17/2026(a)			298		172,840
Central China Real Estate Ltd. 7.50%, 07/14/2025(a)			200		124,000
7.75%, 05/24/2024(a)			206		129,265
7.90%, 11/07/2023(a)			261		170,955
China Aoyuan Group Ltd. 5.375%, 09/13/2022(a)			247		49,323
5.88%, 03/01/2027(a)			571		112,772
China Evergrande Group 11.50%, 01/22/2023(a) (c) (k)			400		59,950
China SCE Group Holdings Ltd. 6.00%, 02/04/2026(a)			631		498,490
CIFI Holdings Group Co., Ltd. 4.80%, 05/17/2028(a)			320		294,300
Kaisa Group Holdings Ltd. 9.95%, 07/23/2025(a) (c) (k)			206		53,663
11.65%, 06/01/2026(a) (c) (k)			371		96,761
KWG Group Holdings Ltd. 5.95%, 08/10/2025(a)			320		228,700
7.40%, 01/13/2027(a)			508		358,140
Powerlong Real Estate Holdings Ltd. 5.95%, 04/30/2025(a)			292		242,269
RKPF Overseas 2019 A Ltd. 5.90%, 03/05/2025(a)			304		291,745
Ronshine China Holdings Ltd. 7.10%, 01/25/2025(a)			206		77,250
8.10%, 06/09/2023(a)			405		145,800
Scenery Journey Ltd. 11.50%, 10/24/2022(a) (c) (k)			494		63,850
12.00%, 10/24/2023(a) (c) (k)			1,128		143,820
Seazen Group Ltd. 4.45%, 07/13/2025(a)			306		255,143
Shimao Group Holdings Ltd. 5.20%, 01/16/2027(a)			256		155,520
Sunac China Holdings Ltd. 5.95%, 04/26/2024(a)			320		203,200
6.50%, 01/26/2026(a)			334		208,646

54

	Principal Amount (000)		U.S. $ Value
Times China Holdings Ltd. 5.75%, 01/14/2027(a)	U.S.$	320	$	215,900
6.20%, 03/22/2026(a)		200		135,937
6.75%, 07/08/2025(a)		313		212,742
Yango Justice International Ltd. 7.50%, 02/17/2025(a)		206		51,500
8.25%, 11/25/2023(a)		414		107,511
Yuzhou Group Holdings Co., Ltd. 6.35%, 01/13/2027(a)		407		111,798
7.375%, 01/13/2026(a)		230		63,250
Zhenro Properties Group Ltd. 6.63%, 01/07/2026(a)		320		205,600
7.35%, 02/05/2025(a)		326		207,580
				5,448,220
				6,752,705
Utility – 0.4%
Electric – 0.4%
AES Gener SA 6.35%, 10/07/2079(a)		495		507,684
Cemig Geracao e Transmissao SA 9.25%, 12/05/2024(a)		1,927		2,151,977
Light Servicos de Eletricidade SA/Light Energia SA 4.375%, 06/18/2026(a)		1,204		1,202,345
Star Energy Geothermal Wayang Windu Ltd. 6.75%, 04/24/2033(a)		192		212,085
Terraform Global Operating LLC 6.125%, 03/01/2026(h)		118		120,558
				4,194,649
Total Emerging Markets - Corporate Bonds (cost $66,610,147)				56,201,578
GOVERNMENTS - TREASURIES – 3.4%
United States – 3.4%
U.S. Treasury Bonds 2.75%, 11/15/2042(q)		2,154		2,462,964
5.00%, 05/15/2037(q)		1,824		2,659,620
5.25%, 02/15/2029(r)		1,320		1,661,756
6.125%, 11/15/2027(s)		1,000		1,269,844
U.S. Treasury Notes 2.25%, 02/15/2027(r) (s)		16,761		17,567,309
2.875%, 08/15/2028(r)		11,366		12,421,125
Total Governments - Treasuries (cost $34,254,482)				38,042,618

55

	Principal Amount (000)		U.S. $ Value
COLLATERALIZED LOAN OBLIGATIONS – 3.2%
CLO - Floating Rate – 3.2%
Ares XXXIV CLO Ltd. Series 2015-2A, Class CR 2.122% (LIBOR 3 Month + 2.00%), 04/17/2033(a) (i)	U.S.$	2,358	$	2,358,876
Balboa Bay Loan Funding Ltd.
Series 2020-1A, Class ER 6.61% (LIBOR 3 Month + 6.40%), 01/20/2032(a) (i)		3,100		3,099,981
Series 2021-2A, Class E 6.812% (LIBOR 3 Month + 6.60%), 01/20/2035(a) (i)		1,000		982,667
Ballyrock CLO 15 Ltd. Series 2021-1A, Class D 6.344% (LIBOR 3 Month + 6.22%), 04/15/2034(a) (i)		250		242,193
Crown Point CLO 11 Ltd. Series 2021-11A, Class E 7.056% (LIBOR 3 Month + 6.81%), 01/17/2034(a) (i)		2,000		1,947,312
Dryden 49 Senior Loan Fund Series 2017-49A, Class E 6.422% (LIBOR 3 Month + 6.30%), 07/18/2030(a) (i)		417		410,629
Dryden 78 CLO Ltd.
Series 2020-78A, Class C 2.072% (LIBOR 3 Month + 1.95%), 04/17/2033(a) (i)		3,000		3,001,956
Series 2020-78A, Class D 3.122% (LIBOR 3 Month + 3.00%), 04/17/2033(a) (i)		1,329		1,330,156
Dryden CLO Ltd. Series 2018-57A, Class E 5.356% (LIBOR 3 Month + 5.20%), 05/15/2031(a) (i)		275		260,783
Elevation CLO Ltd.
Series 2020-11A, Class C 2.324% (LIBOR 3 Month + 2.20%), 04/15/2033(a) (i)		648		629,970
Series 2020-11A, Class D1 3.974% (LIBOR 3 Month + 3.85%), 04/15/2033(a) (i)		1,006		1,006,827
Elmwood CLO Ltd. Series 2021-2A, Class E 6.089% (LIBOR 3 Month + 5.95%), 07/20/2034(a) (i)		250		248,546
Elmwood CLO VII Ltd. Series 2020-4A, Class E 7.222% (LIBOR 3 Month + 7.10%), 01/17/2034(a) (i)		402		403,896
Elmwood CLO VIII Ltd. Series 2021-1A, Class E1 6.132% (LIBOR 3 Month + 6.00%), 01/20/2034(a) (i)		350		349,979

56

	Principal Amount (000)		U.S. $ Value
Elmwood CLO XII Ltd. Series 2021-5A, Class E 6.471% (LIBOR 3 Month + 6.35%), 01/20/2035(a) (i)	U.S.$	650	$	647,779
Flatiron CLO Ltd. Series 2021-1A, Class E 6.151% (LIBOR 3 Month + 6.00%), 07/19/2034(a) (i)		400		380,386
Kayne CLO 4 Ltd. Series 2019-4A, Class E 6.874% (LIBOR 3 Month + 6.75%), 04/25/2032(a) (i)		585		585,411
Kayne CLO 10 Ltd. Series 2021-10A, Class E 6.02% (LIBOR 3 Month + 5.85%), 04/23/2034(a) (i)		750		732,267
Kayne CLO 11 Ltd. Series 2021-11A, Class E 6.374% (LIBOR 3 Month + 6.25%), 04/15/2034(a) (i)		355		354,772
Madison Park Funding LI Ltd. Series 2021-51A, Class E 6.42% (LIBOR 3 Month + 6.27%), 07/19/2034(a) (i)		250		247,524
OCP CLO Ltd. Series 2021-21A, Class E 6.412% (LIBOR 3 Month + 6.28%), 07/20/2034(a) (i)		250		245,997
Octagon Investment Partners 29 Ltd. Series 2016-1A, Class DR 3.224% (LIBOR 3 Month + 3.10%), 01/24/2033(a) (i)		1,701		1,677,187
OZLM XXII Ltd. Series 2018-22A, Class D 5.422% (LIBOR 3 Month + 5.30%), 01/17/2031(a) (i)		349		315,627
Palmer Square CLO Ltd.
Series 2021-1A, Class D 6.132% (LIBOR 3 Month + 6.00%), 04/20/2034(a) (i)		1,202		1,195,472
Series 2021-3A, Class E 6.383% (LIBOR 3 Month + 6.15%), 01/15/2035(a) (i)		4,100		4,069,652
Regatta XXIV Funding Ltd. Series 2021-5A, Class E 6.889% (LIBOR 3 Month + 6.80%), 01/20/2035(a) (i)		3,600		3,582,616
Rockford Tower CLO Ltd.
Series 2019-1A, Class ER 6.452% (LIBOR 3 Month + 6.32%), 04/20/2034(a) (i)		250		240,983
Series 2021-2A, Class E 6.513% (LIBOR 3 Month + 6.40%), 07/20/2034(a) (i)		250		246,348
Series 2021-3A, Class E 6.847% (LIBOR 3 Month + 6.72%), 10/20/2034(a) (i)		1,062		1,041,567

57

	Principal Amount (000)			U.S. $ Value
Sixth Street CLO XVIII Ltd. Series 2021-18A, Class E 6.632% (LIBOR 3 Month + 6.50%), 04/20/2034(a) (i)	U.S.$		1,238	$	1,194,759
Sixth Street CLO XX Ltd. Series 2021-20A, Class E 6.282% (LIBOR 3 Month + 6.15%), 10/20/2034(a) (i)			679		673,824
Trimaran Cavu Ltd. Series 2019-1A, Class E 7.172% (LIBOR 3 Month + 7.04%), 07/20/2032(a) (i)			485		468,960
Voya CLO Ltd. Series 2019-1A, Class DR 2.974% (LIBOR 3 Month + 2.85%), 04/15/2031(a) (i)			1,050		1,017,489
Total Collateralized Loan Obligations (cost $35,487,629)					35,192,391
		Shares
COMMON STOCKS – 1.8%
Energy – 0.6%
Energy Equipment & Services – 0.0%
Vantage Drilling International(c)			18,414		105,881
Oil, Gas & Consumable Fuels – 0.6%
Berry Corp.			133,464		1,123,767
CHC Group LLC(c)			21,009		4
Civitas Resources, Inc.			3,393		166,155
Denbury, Inc.(c)			13,059		1,000,189
Diamond Offshore Drilling, Inc.(c)			111,326		417,472
Diamond Offshore Drilling, Inc.(c) (h)			23,444		87,915
Golden Energy Offshore Services AS(c)			916,212		78,028
Gulfport Energy Corp.(c)			42,682		3,074,384
K201640219 South Africa Ltd. A Shares(c) (d) (f)			12,695,187		13
K201640219 South Africa Ltd. B Shares(c) (d) (f)			2,009,762		2
SandRidge Energy, Inc.(c)			243		2,542
Whiting Petroleum Corp.(c)			15,070		974,728
					6,925,199
					7,031,080
Consumer Discretionary – 0.4%
Auto Components – 0.3%
ATD New Holdings, Inc.(c) (f)			20,185		1,715,725
Ep Energy Corp.(c)			6,941		603,867
Exide Corp.(c) (d) (f)			643		1,060,950
					3,380,542

58

Company	Shares		U.S. $ Value
Hotels, Restaurants & Leisure – 0.0%
Caesars Entertainment, Inc.(c)		1,674	$	156,569
Internet & Direct Marketing Retail – 0.0%
Golo Mobile, Inc.(c) (d) (f)		38,543		0
Leisure Products – 0.1%
Carlson Travel, Inc.(c) (f)		23,801		779,483
				4,316,594
Financials – 0.3%
Insurance – 0.3%
Mt. Logan Re Ltd.(c) (d) (f)		3,082		2,893,132
Mt. Logan Re Ltd. (Series 1) (Preference Shares)(c) (d) (f)		700		700,123
				3,593,255
Consumer Staples – 0.2%
Food & Staples Retailing – 0.2%
Southeastern Grocers, Inc.(c) (d) (f)		105,865		2,540,760
Information Technology – 0.1%
IT Services – 0.1%
Ag Tracker(c) (d) (f)		91,299		0
Paysafe Ltd.(c)		128,508		502,466
				502,466
Software – 0.0%
Avaya Holdings Corp.(c)		18,153		359,429
Monitronics International, Inc.(c)		35,682		92,777
				452,206
				954,672
Industrials – 0.1%
Building Products – 0.0%
New Cotai LLC/New Cotai Capital Corp.(c) (d) (f)		3		0
Construction & Engineering – 0.1%
WillScot Mobile Mini Holdings Corp.(c)		18,809		768,159
				768,159
Communication Services – 0.1%
Media – 0.1%
iHeartMedia, Inc. - Class A(c)		25,545		537,467
Materials – 0.0%
Metals & Mining – 0.0%
BIS Industries Holdings Ltd.(c) (d) (f)		838,296		1
Neenah Enterprises, Inc.(c) (d) (f)		58,200		0
				1
Total Common Stocks (cost $30,113,463)				19,741,988

59

	Principal Amount (000)		U.S. $ Value
QUASI-SOVEREIGNS – 1.1%
Quasi-Sovereign Bonds – 1.1%
Bahrain – 0.2%
Oil and Gas Holding Co. BSCC (The) 7.625%, 11/07/2024(a)	U.S.$	469	$	505,201
8.375%, 11/07/2028(a)		1,346		1,528,972
				2,034,173
Indonesia – 0.0%
Indonesia Asahan Aluminium Persero PT 5.71%, 11/15/2023(a)		224		239,792
Mexico – 0.6%
Petroleos Mexicanos 5.95%, 01/28/2031		3,986		3,868,712
6.49%, 01/23/2027		507		540,462
6.75%, 09/21/2047		2,330		2,056,225
6.95%, 01/28/2060		644		568,330
				7,033,729
Oman – 0.1%
Lamar Funding Ltd. 3.958%, 05/07/2025(a)		1,037		1,032,009
Panama – 0.1%
Aeropuerto Internacional de Tocumen SA 4.00%, 08/11/2041(a)		249		254,182
5.125%, 08/11/2061(a)		236		247,181
				501,363
South Africa – 0.1%
Eskom Holdings SOC Ltd. 6.35%, 08/10/2028(a)		562		605,906
7.125%, 02/11/2025(a)		437		451,694
				1,057,600
Total Quasi-Sovereigns (cost $10,656,019)				11,898,666
COMMERCIAL MORTGAGE-BACKED SECURITIES – 1.1%
Non- Agency Fixed Rate CMBS – 1.1%
Citigroup Commercial Mortgage Trust
Series 2013-GC11, Class XA 1.352%, 04/10/2046(n)		1,265		16,556
Series 2013-GC17, Class D 5.102%, 11/10/2046(a)		902		850,367
Commercial Mortgage Trust
Series 2012-CR3, Class F 4.75%, 10/15/2045(a)		182		45,588
Series 2012-CR3, Class XA 1.832%, 10/15/2045(n)		6,947		41,970
Series 2012-CR5, Class XA 1.50%, 12/10/2045(n)		1,637		13,885
Series 2013-LC6, Class D
4.289%, 01/10/2046(a)		3,916		3,883,046

60

	Principal Amount (000)		U.S. $ Value
Series 2014-CR15, Class XA 0.653%, 02/10/2047(n)	U.S.$	1,241	$	16,052
Series 2014-CR20, Class XA 0.986%, 11/10/2047(n)		8,932		202,057
GS Mortgage Securities Corp. II Series 2013-GC10, Class XA 1.475%, 02/10/2046(n)		715		8,389
Morgan Stanley Bank of America Merrill Lynch Trust Series 2012-C6, Class XA 1.583%, 11/15/2045(a ) (n)		5,248		19,657
UBS-Barclays Commercial Mortgage Trust Series 2012-C4, Class XA 1.575%, 12/10/2045(a) (n)		735		5,204
WF-RBS Commercial Mortgage Trust
Series 2011-C4, Class D 4.887%, 06/15/2044(a)		1,022		969,530
Series 2012-C7, Class XA 1.281%, 06/15/2045(a) (n)		901		864
Series 2012-C8, Class E 4.891%, 08/15/2045(a)		3,766		3,716,347
Series 2012-C10, Class XA 1.483%, 12/15/2045(a) (n)		2,742		25,307
Series 2014-C25, Class D 3.803%, 11/15/2047(a)		1,807		1,699,915
				11,514,734
Non-Agency Floating Rate CMBS – 0.0%
Morgan Stanley Capital I Trust Series 2019-BPR, Class E 4.86% (LIBOR 1 Month + 4.75%), 05/15/2036(a) (i)		301		215,369
Total Commercial Mortgage-Backed Securities (cost $11,555,063)				11,730,103
LOCAL GOVERNMENTS - US MUNICIPAL BONDS – 0.5%
United States – 0.5%
State of California Series 2010 7.60%, 11/01/2040		750		1,292,859
State of Illinois Series 2010 7.35%, 07/01/2035		1,915		2,410,601
Wisconsin Public Finance Authority (Catholic Bishop of Chicago (The)) Series 2021 5.75%, 07/25/2041(a)		1,435		1,541,345
Total Local Governments - US Municipal Bonds (cost $4,113,397)				5,244,805

61

		Shares		U.S. $ Value
PREFERRED STOCKS – 0.4%
Industrial – 0.3%
Energy – 0.2%
Gulfport Energy Corp. 10.00%(c) (f)			142	$	759,700
Targa Resources Corp. Series A 9.50%			2,000		2,153,452
					2,913,152
INDUSTRIAL CONGLOMERATES – 0.1%
WESCO International, Inc. Series A 10.625%			35,175		1,078,114
					3,991,266
Financial Institutions – 0.1%
Insurance – 0.1%
Hartford Financial Services Group, Inc. (The) 7.875%			42,175		1,073,353
Total Preferred Stocks (cost $4,270,718)					5,064,619
		Principal Amount (000)
ASSET-BACKED SECURITIES – 0.2%
Other ABS - Fixed Rate – 0.1%
Consumer Loan Underlying Bond Certificate Issuer Trust I
Series 2018-7, Class PT 11.079%, 06/15/2043(h)	U.S.$		53		51,036
Series 2019-24, Class PT 11.123%, 08/15/2044(h)			137		136,538
Series 2019-36, Class PT 13.405%, 10/17/2044(h)			226		226,632
Series 2019-43, Class PT 6.581%, 11/15/2044(h)			82		80,573
Consumer Loan Underlying Bond Club Certificate Issuer Trust I
Series 2018-12, Class PT 14.691%, 06/15/2043(h)			40		39,353
Series 2018-4, Class PT 12.466%, 05/15/2043(h)			40		39,818
Consumer Loan Underlying Bond Credit Trust Series 2018-3, Class PT 11.205%, 03/16/2043(h)			9		8,412
Marlette Funding Trust Series 2018-3A, Class C 4.63%, 09/15/2028(a)			506		506,036
SoFi Consumer Loan Program LLC Series 2016-1, Class R Zero Coupon, 08/25/2025(d) (f) (h)			211		216,836

62

	Principal Amount (000)				U.S. $ Value
SoFi Consumer Loan Program Trust Series 2018-1, Class R1 Zero Coupon, 02/25/2027(d) (f) (h)		U.S.$		16	$	307,269
						1,612,503
Autos - Fixed Rate – 0.1%
Flagship Credit Auto Trust Series 2019-4, Class E 4.11%, 03/15/2027(a)				770		788,730
Total Asset-Backed Securities (cost $3,494,183)						2,401,233
INFLATION-LINKED SECURITIES – 0.2%
Colombia – 0.2%
Fideicomiso PA Concesion Ruta al Mar 6.75%, 02/15/2044(a)		COP		1,437,090		258,895
Fideicomiso PA Costera 6.25%, 01/15/2034(a)				1,230,800		312,307
Fideicomiso PA Pacifico Tres 7.00%, 01/15/2035(h)				6,642,880		1,779,495
Total Inflation-Linked Securities (cost $2,838,133)						2,350,697
GOVERNMENTS - SOVEREIGN BONDS – 0.1%
Colombia – 0.1%
Colombia Government International Bond 4.125%, 05/15/2051		U.S.$		1,258		1,023,540
Netherlands – 0.0%
SNS Bank NV Series E 11.25%, 12/31/2049(c) (d) (f)		EUR		620		0
Total Governments - Sovereign Bonds (cost $2,092,354)						1,023,540
			Shares
WARRANTS – 0.1%
Avaya Holdings Corp., expiring 12/15/2022(c)				53,489		149,769
Encore Automotive Acceptance, expiring 07/05/2031(c) (d) (f)				8		0
Flexpath Capital, Inc., expiring 04/15/2031(c) (d) (f)				10,974		0
SandRidge Energy, Inc., A-CW22, expiring 10/04/2022(c)				47,161		948
SandRidge Energy, Inc., B-CW22, expiring 10/04/2022(c)				19,860		457
Willscot Corp., expiring 11/29/2022(c) (d) (f)				29,123		740,461
Total Warrants (cost $385,301)						891,635

63

Company			Shares			U.S. $ Value
RIGHTS – 0.0%
Vistra Energy Corp., expiring 12/31/2049(c) (f) (cost $0)				10,721		$	14,152
SHORT-TERM INVESTMENTS – 1.4%
Investment Companies – 1.1%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 0.01%(t) (u) (v) (cost $11,875,601)				11,875,601			11,875,601
	Principal Amount (000)
Time Deposits – 0.3%
BBH, Grand Cayman 3.20%, 01/03/2022		ZAR		0	**		31
Citibank, London (0.97)%, 01/03/2022		EUR		72			81,729
0.01%, 01/04/2022		GBP		72			96,995
National Australia Bank, London 0.01%, 01/03/2022		U.S.$		3,250			3,250,168
Royal Bank of Canada, Toronto 0.01%, 01/04/2022		CAD		119			94,053
Total Time Deposits (cost $3,522,976)							3,522,976
Total Short-Term Investments (cost $15,398,577)							15,398,577
Total Investments – 100.8% (cost $1,119,534,765)(w)							1,116,052,409
Other assets less liabilities – (0.8)%							(8,695,572	)
Net Assets – 100.0%						$	1,107,356,837

FUTURES

Description	Number of Contracts		Expiration Month		Current Notional		Value and Unrealized Appreciation/ (Depreciation)
Purchased Contracts
U.S. 10 Yr Ultra Futures		106		March 2022	$	15,522,375	$	221,219
U.S. Long Bond (CBT) Futures		60		March 2022		9,626,250		157,969
U.S. T-Note 10 Yr (CBT) Futures		272		March 2022		35,487,500		348,500
U.S. Ultra Bond (CBT) Futures		47		March 2022		9,264,875		232,062
Sold Contracts
U.S. T-Note 5 Yr (CBT) Futures		169		March 2022		20,445,039		39
							$	959,789

64

FORWARD CURRENCY EXCHANGE CONTRACTS

Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation/ (Depreciation)
Bank of America, NA		BRL	55		USD	10		01/04/2022	$	(19	)
Bank of America, NA		USD	10		BRL	55		01/04/2022		22
Bank of America, NA		INR	2,168		USD	29		01/07/2022		(364	)
Bank of America, NA		USD	17		INR	1,237		01/07/2022		36
Bank of America, NA		KRW	12,305		USD	10		01/20/2022		64
Bank of America, NA		CLP	16,897		USD	20		01/21/2022		65
Bank of America, NA		USD	27		CLP	21,673		01/21/2022		(1,316	)
Bank of America, NA		IDR	105,866		USD	7		01/27/2022		(8	)
Barclays Bank PLC		INR	2,494		USD	33		01/07/2022		(294	)
Barclays Bank PLC		KRW	21,033		USD	18		01/20/2022		(41	)
Barclays Bank PLC		USD	36		KRW	42,398		01/20/2022		(223	)
BNP Paribas SA		BRL	53		USD	9		01/04/2022		(18	)
BNP Paribas SA		USD	9		BRL	53		01/04/2022		102
BNP Paribas SA		INR	750		USD	10		01/07/2022		(210	)
BNP Paribas SA		TWD	628		USD	23		01/20/2022		56
BNP Paribas SA		TWD	1,081		USD	39		01/20/2022		(398	)
BNP Paribas SA		USD	51		TWD	1,417		01/20/2022		119
BNP Paribas SA		USD	14		TWD	382		01/20/2022		(1	)
BNP Paribas SA		COP	29,021		USD	7		01/21/2022		126
BNP Paribas SA		USD	10		CLP	7,875		01/21/2022		(594	)
BNP Paribas SA		USD	9		COP	35,235		01/21/2022		(284	)
BNP Paribas SA		IDR	145,711		USD	10		01/27/2022		4
BNP Paribas SA		IDR	651,873		USD	45		01/27/2022		(466	)
BNP Paribas SA		USD	40		IDR	577,411		01/27/2022		516
BNP Paribas SA		BRL	76		USD	13		02/02/2022		(122	)
Brown Brothers Harriman & Co.		USD	7		TRY	92		01/06/2022		126
Brown Brothers Harriman & Co.		CHF	95		USD	103		01/13/2022		(832	)
Brown Brothers Harriman & Co.		MXN	1,019		USD	50		01/13/2022		178
Brown Brothers Harriman & Co.		MXN	1,095		USD	52		01/13/2022		(1,248	)
Brown Brothers Harriman & Co.		USD	9		CHF	8		01/13/2022		208
Brown Brothers Harriman & Co.		USD	126		MXN	2,631		01/13/2022		2,064
Brown Brothers Harriman & Co.		USD	13		MXN	267		01/13/2022		(69	)
Brown Brothers Harriman & Co.		GBP	1		USD	2		01/14/2022		5
Brown Brothers Harriman & Co.		SGD	206		USD	151		01/14/2022		(1,953	)
Brown Brothers Harriman & Co.		USD	53		GBP	40		01/14/2022		1,086
Brown Brothers Harriman & Co.		USD	52		SGD	70		01/14/2022		297
Brown Brothers Harriman & Co.		USD	86		SGD	116		01/14/2022		(18	)
Brown Brothers Harriman & Co.		NOK	230		USD	26		01/20/2022		18
Brown Brothers Harriman & Co.		NOK	11		USD	1		01/20/2022		(25	)
Brown Brothers Harriman & Co.		NZD	112		USD	79		01/20/2022		2,703
Brown Brothers Harriman & Co.		NZD	13		USD	9		01/20/2022		(76	)
Brown Brothers Harriman & Co.		SEK	94		USD	11		01/20/2022		325
Brown Brothers Harriman & Co.		SEK	531		USD	58		01/20/2022		(320	)
Brown Brothers Harriman & Co.		USD	91		NOK	775		01/20/2022		(2,859	)

65

Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation/ (Depreciation)
Brown Brothers Harriman & Co.		USD	17		NZD	25		01/20/2022	$	239
Brown Brothers Harriman & Co.		USD	26		NZD	37		01/20/2022		(597	)
Brown Brothers Harriman & Co.		USD	54		SEK	492		01/20/2022		230
Brown Brothers Harriman & Co.		USD	49		SEK	437		01/20/2022		(224	)
Brown Brothers Harriman & Co.		USD	93		ZAR	1,481		01/25/2022		(509	)
Brown Brothers Harriman & Co.		ZAR	843		USD	53		01/25/2022		611
Brown Brothers Harriman & Co.		ZAR	148		USD	9		01/25/2022		(2	)
Brown Brothers Harriman & Co.		AUD	22		USD	16		02/08/2022		195
Brown Brothers Harriman & Co.		AUD	10		USD	8		02/08/2022		(49	)
Brown Brothers Harriman & Co.		JPY	4,486		USD	39		02/09/2022		291
Brown Brothers Harriman & Co.		USD	8		JPY	856		02/09/2022		(55	)
Brown Brothers Harriman & Co.		CAD	397		USD	313		02/10/2022		(981	)
Brown Brothers Harriman & Co.		EUR	1,322		USD	1,533		02/10/2022		26,909
Brown Brothers Harriman & Co.		EUR	500		USD	566		02/10/2022		(2,884	)
Brown Brothers Harriman & Co.		USD	11		CAD	14		02/10/2022		110
Brown Brothers Harriman & Co.		USD	138		CAD	174		02/10/2022		(664	)
Brown Brothers Harriman & Co.		USD	292		EUR	259		02/10/2022		2,943
Brown Brothers Harriman & Co.		USD	2		EUR	1		02/10/2022		(23	)
Brown Brothers Harriman & Co.		CNH	416		USD	65		02/17/2022		(165	)
Brown Brothers Harriman & Co.		PLN	202		USD	49		02/17/2022		(671	)
Brown Brothers Harriman & Co.		USD	29		CNH	185		02/17/2022		145
Brown Brothers Harriman & Co.		USD	136		PLN	556		02/17/2022		1,984
Citibank, NA		KRW	60,395		USD	51		01/20/2022		418
Deutsche Bank AG		BRL	211		USD	37		01/04/2022		(498	)
Deutsche Bank AG		USD	38		BRL	211		01/04/2022		71
Deutsche Bank AG		USD	37		BRL	211		02/02/2022		492
Goldman Sachs Bank USA		BRL	162		USD	29		01/04/2022		(55	)
Goldman Sachs Bank USA		USD	16		BRL	91		01/04/2022		452
Goldman Sachs Bank USA		USD	13		BRL	71		01/04/2022		(16	)
Goldman Sachs Bank USA		INR	3,966		USD	52		01/07/2022		(817	)
Goldman Sachs Bank USA		USD	9		INR	680		01/07/2022		29
Goldman Sachs Bank USA		KRW	13,075		USD	11		01/20/2022		74
Goldman Sachs Bank USA		TWD	569		USD	20		01/20/2022		(96	)
Goldman Sachs Bank USA		USD	17		KRW	20,477		01/20/2022		(119	)
Goldman Sachs Bank USA		USD	12		TWD	345		01/20/2022		45
Goldman Sachs Bank USA		USD	30		TWD	838		01/20/2022		(69	)
Goldman Sachs Bank USA		CLP	19,979		USD	23		01/21/2022		(148	)
Goldman Sachs Bank USA		COP	42,639		USD	11		01/21/2022		394
Goldman Sachs Bank USA		USD	25		CLP	20,027		01/21/2022		(1,473	)
Goldman Sachs Bank USA		USD	11		COP	43,099		01/21/2022		(138	)
Goldman Sachs Bank USA		RUB	576		USD	8		03/02/2022		27
HSBC Bank USA		USD	94		INR	7,069		01/07/2022		706
HSBC Bank USA		TWD	261		USD	9		01/20/2022		(87	)
HSBC Bank USA		USD	11		CLP	8,895		01/21/2022		(218	)
HSBC Bank USA		USD	11		COP	44,048		01/21/2022		(143	)
HSBC Bank USA		IDR	65,904		USD	5		01/27/2022		(60	)
HSBC Bank USA		EUR	42,044		USD	48,637		02/10/2022		734,308

66

Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation/ (Depreciation)
JPMorgan Chase Bank, NA		INR	813		USD	11		01/07/2022	$	(181	)
JPMorgan Chase Bank, NA		USD	10		INR	767		01/07/2022		54
JPMorgan Chase Bank, NA		USD	275		COP	1,087,021		01/21/2022		(8,003	)
JPMorgan Chase Bank, NA		IDR	198,038		USD	14		01/27/2022		(135	)
JPMorgan Chase Bank, NA		USD	20		IDR	293,595		01/27/2022		189
JPMorgan Chase Bank, NA		AUD	12		USD	9		02/08/2022		178
Morgan Stanley Capital Services LLC		INR	1,376		USD	18		01/07/2022		(364	)
Morgan Stanley Capital Services LLC		KRW	23,484		USD	20		01/20/2022		101
Morgan Stanley Capital Services LLC		USD	8		KRW	9,180		01/20/2022		8
Morgan Stanley Capital Services LLC		USD	9		KRW	10,795		01/20/2022		(101	)
Morgan Stanley Capital Services LLC		USD	14		TWD	399		01/20/2022		155
Morgan Stanley Capital Services LLC		USD	14		TWD	378		01/20/2022		(3	)
Morgan Stanley Capital Services LLC		CLP	72,017		USD	88		01/21/2022		3,219
Morgan Stanley Capital Services LLC		COP	31,974		USD	8		01/21/2022		116
Morgan Stanley Capital Services LLC		EUR	1,445		USD	1,670		02/10/2022		23,135
Morgan Stanley Capital Services LLC		USD	1,025		EUR	909		02/10/2022		11,544
Morgan Stanley Capital Services LLC		CNH	52		USD	8		02/17/2022		(44	)
Morgan Stanley Capital Services LLC		RUB	1,853		USD	25		03/02/2022		245
Royal Bank of Scotland PLC		BRL	46		USD	8		01/04/2022		(15	)
Royal Bank of Scotland PLC		USD	8		BRL	46		01/04/2022		109
Royal Bank of Scotland PLC		INR	832		USD	11		01/07/2022		(143	)
Royal Bank of Scotland PLC		USD	7		KRW	8,397		01/20/2022		11
Royal Bank of Scotland PLC		USD	22		KRW	25,874		01/20/2022		(41	)
Royal Bank of Scotland PLC		CLP	10,222		USD	12		01/21/2022		118
Royal Bank of Scotland PLC		COP	33,396		USD	9		01/21/2022		333
Royal Bank of Scotland PLC		USD	10		COP	39,882		01/21/2022		(161	)
Royal Bank of Scotland PLC		IDR	124,752		USD	9		01/27/2022		(105	)
Royal Bank of Scotland PLC		EUR	898		USD	1,015		02/10/2022		(8,618	)
Standard Chartered Bank		INR	690		USD	9		01/07/2022		(94	)
Standard Chartered Bank		USD	8		INR	627		01/07/2022		36
Standard Chartered Bank		TWD	214		USD	8		01/20/2022		16
Standard Chartered Bank		TWD	725		USD	26		01/20/2022		(179	)
Standard Chartered Bank		USD	37		TWD	1,026		01/20/2022		76
Standard Chartered Bank		USD	9		CLP	7,579		01/21/2022		(506	)
Standard Chartered Bank		BRL	62		USD	11		02/02/2022		(154	)
UBS AG		BRL	328		USD	58		01/04/2022		(535	)
UBS AG		USD	59		BRL	328		01/04/2022		421
UBS AG		INR	3,621		USD	48		01/07/2022		(792	)
UBS AG		GBP	3,366		USD	4,567		01/14/2022		10,783
UBS AG		TWD	570		USD	21		01/20/2022		29
UBS AG		TWD	880		USD	32		01/20/2022		(89	)
UBS AG		COP	14,804,917		USD	3,836		01/21/2022		202,833
UBS AG		USD	12		CLP	10,016		01/21/2022		(451	)
UBS AG		USD	8		IDR	115,871		01/27/2022		172
UBS AG		RUB	813		USD	11		03/02/2022		157
UBS AG		USD	21		RUB	1,563		03/02/2022		(224	)
									$	989,374

67

INTEREST RATE SWAPTIONS WRITTEN

Description	Index	Counter- Party	Strike Rate			Expiration Date		Notional Amount (000)		Premiums Received		Market Value
Put
OTC - 1 Year Interest Rate Swap	3 Month LIBOR	Citibank, NA		1.55	%		01/18/2022	$	47	$	419	$	(375	)
OTC - 1 Year Interest Rate Swap	1 DAY SOFR	Citibank, NA		1.28			01/26/2022		47		418		(259	)
OTC - 1 Year Interest Rate Swap	1 DAY SOFR	Citibank, NA		1.37			01/28/2022		47		376		(146	)
OTC - 1 Year Interest Rate Swap	3 Month LIBOR	JPMorgan Chase Bank, NA		1.51			01/04/2022		47		452		(323	)
OTC - 1 Year Interest Rate Swap	3 Month LIBOR	JPMorgan Chase Bank, NA		1.54			01/04/2022		47		458		(218	)
OTC - 1 Year Interest Rate Swap	3 Month LIBOR	JPMorgan Chase Bank, NA		1.56			01/07/2022		47		468		(222	)
OTC - 1 Year Interest Rate Swap	1 DAY SOFR	JPMorgan Chase Bank, NA		1.33			01/31/2022		47		409		(409	)
OTC - 1 Year Interest Rate Swap	3 Month LIBOR	Morgan Stanley Capital Services LLC		1.56			01/04/2022		47		468		(164	)
OTC - 1 Year Interest Rate Swap	3 Month LIBOR	Morgan Stanley Capital Services LLC		1.49			01/06/2022		47		455		(421	)
OTC - 1 Year Interest Rate Swap	3 Month LIBOR	Morgan Stanley Capital Services LLC		1.57			01/10/2022		47		435		(240	)
OTC - 1 Year Interest Rate Swap	3 Month LIBOR	Morgan Stanley Capital Services LLC		1.59			01/10/2022		47		456		(202	)

68

Description	Index		Counter- Party		Strike Rate			Expiration Date		Notional Amount (000)		Premiums Received		Market Value
OTC - 1 Year Interest Rate Swap		3 Month LIBOR		Morgan Stanley Capital Services LLC		1.60	%		01/10/2022	$	47	$	416	$	(179	)
OTC - 1 Year Interest Rate Swap		3 Month LIBOR		Morgan Stanley Capital Services LLC		1.55			01/13/2022		47		409		(313	)
OTC - 1 Year Interest Rate Swap		3 Month LIBOR		Morgan Stanley Capital Services LLC		1.55			01/14/2022		47		404		(336	)
OTC - 1 Year Interest Rate Swap		3 Month LIBOR		Morgan Stanley Capital Services LLC		1.50			01/18/2022		47		400		(498	)
OTC - 1 Year Interest Rate Swap		3 Month LIBOR		Morgan Stanley Capital Services LLC		1.48			01/18/2022		47		390		(577	)
OTC - 1 Year Interest Rate Swap		3 Month LIBOR		Morgan Stanley Capital Services LLC		1.46			01/20/2022		47		407		(646	)
OTC - 1 Year Interest Rate Swap		3 Month LIBOR		Morgan Stanley Capital Services LLC		1.56			01/21/2022		47		416		(373	)
OTC - 1 Year Interest Rate Swap		1 DAY SOFR		Morgan Stanley Capital Services LLC		1.30			01/24/2022		47		404		(390	)
OTC - 1 Year Interest Rate Swap		3 Month LIBOR		Morgan Stanley Capital Services LLC		1.57			01/24/2022		47		418		(388	)
OTC - 1 Year Interest Rate Swap		1 DAY SOFR		Morgan Stanley Capital Services LLC		1.33			01/27/2022		47		423		(351	)
OTC - 1 Year Interest Rate Swap		1 DAY SOFR		Morgan Stanley Capital Services LLC		1.38			01/27/2022		47		397		(137	)
												$	9,298	$	(7,167	)

69

CENTRALLY CLEARED CREDIT DEFAULT SWAPS

Description	Fixed Rate (Pay) Receive			Payment Frequency		Implied Credit Spread at December 31, 2021			Notional Amount (000)			Market Value			Upfront Premiums Paid/ (Received)			Unrealized Appreciation/ (Depreciation)
Sale Contracts
Brazilian Government International Bond,
4.250%, 01/07/2025, 12/20/2026*		1.00	%		Quarterly		2.03	%		USD	316	$	(15,106	)	$	(14,935	)	$	(171	)
CDX-NAHY Series 34, 5 Year Index, 06/20/2025*		5.00			Quarterly		2.48			USD	19,027		1,588,544			87,579			1,500,965
CDX-NAHY Series 37, 5 Year Index, 12/20/2026*		5.00			Quarterly		2.93			USD	143,551		13,376,064			13,096,987			279,077
iTraxx Europe Crossover Series 36, 5 Year Index, 12/20/2026*		5.00			Quarterly		2.42			EUR	36,820		5,017,926			4,936,164			81,762
South Africa Government International Bond,
5.875%, 09/16/2025, 12/20/2026*		1.00			Quarterly		2.02			USD	2,380		(112,712	)		(123,304	)		10,592
												$	19,854,716		$	17,982,491		$	1,872,225

* Termination date

CREDIT DEFAULT SWAPS

Swap Counterparty & Referenced Obligation	Fixed Rate (Pay) Receive			Payment Frequency		Implied Credit Spread at December 31, 2021			Notional Amount (000)			Market Value			Upfront Premiums Paid/ (Received)			Unrealized Appreciation/ (Depreciation)
Sale Contracts
Citigroup Global Markets, Inc.
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00	%		Monthly		10.00	%		USD	281	$	(123,765	)	$	(135,407	)	$	11,642

70

Swap Counterparty & Referenced Obligation	Fixed Rate (Pay) Receive			Payment Frequency	Implied Credit Spread at December 31, 2021			Notional Amount (000)			Market Value			Upfront Premiums Paid/ (Received)			Unrealized Appreciation/ (Depreciation)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00	%	Monthly		10.00	%		USD	454	$	(126,688	)	$	(48,586	)	$	(78,102	)
Credit Suisse International
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00		Monthly		10.00			USD	4,800		(2,112,027	)		(711,960	)		(1,400,067	)
International Game Technology, 4.750%, 02/15/2023, 06/20/2022*		5.00		Quarterly		0.38			EUR	310		8,330			3,297			5,033
Deutsche Bank AG
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly		10.00			USD	258		(71,994	)		(27,278	)		(44,716	)
Goldman Sachs International
Avis Budget Car Rental LLC, 5.250%, 03/15/2025, 12/20/2023*		5.00		Quarterly		0.79			USD	270		22,755			6,844			15,911
Avis Budget Car Rental LLC, 5.250%, 03/15/2025, 12/20/2023*		5.00		Quarterly		0.79			USD	300		25,283			11,901			13,382
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00		Monthly		10.00			USD	57		(24,922	)		(27,231	)		2,309
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00		Monthly		10.00			USD	57		(24,922	)		(27,231	)		2,309
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00		Monthly		10.00			USD	1,600		(704,150	)		(262,352	)		(441,798	)
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00		Monthly		10.00			USD	1,988		(874,681	)		(279,126	)		(595,555	)
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00		Monthly		10.00			USD	2,812		(1,237,346	)		(394,859	)		(842,487	)
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00		Monthly		10.00			USD	4,800		(2,110,693	)		(751,390	)		(1,359,303	)
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00		Monthly		10.00			USD	9,600		(4,224,053	)		(1,358,102	)		(2,865,951	)
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00		Monthly		10.00			USD	12,960		(5,702,472	)		(1,830,975	)		(3,871,497	)

71

Swap Counterparty & Referenced Obligation	Fixed Rate (Pay) Receive			Payment Frequency	Implied Credit Spread at December 31, 2021			Notional Amount (000)			Market Value			Upfront Premiums Paid/ (Received)			Unrealized Appreciation/ (Depreciation)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00	%	Monthly		10.00	%		USD	133	$	(37,113	)	$	(13,675	)	$	(23,438	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly		10.00			USD	180		(50,244	)		(15,365	)		(34,879	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly		10.00			USD	364		(101,604	)		(40,642	)		(60,962	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly		10.00			USD	360		(100,487	)		(33,868	)		(66,619	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly		10.00			USD	360		(100,487	)		(31,298	)		(69,189	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly		10.00			USD	371		(103,558	)		(29,836	)		(73,722	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly		10.00			USD	530		(147,895	)		(54,105	)		(93,790	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly		10.00			USD	718		(200,695	)		(73,932	)		(126,763	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly		10.00			USD	1,040		(290,489	)		(106,981	)		(183,508	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly		10.00			USD	2,156		(602,365	)		(177,615	)		(424,750	)
JPMorgan Securities, LLC
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly		10.00			USD	6,394		(1,786,440	)		(734,159	)		(1,052,281	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly		10.00			USD	11,989		(3,349,576	)		(1,312,937	)		(2,036,639	)
Morgan Stanley & Co. International PLC
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00		Monthly		10.00			USD	112		(49,421	)		(52,850	)		3,429
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00		Monthly		10.00			USD	349		(153,756	)		(155,176	)		1,420
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00		Monthly		10.00			USD	349		(153,756	)		(143,396	)		(10,360	)

72

Swap Counterparty & Referenced Obligation	Fixed Rate (Pay) Receive			Payment Frequency		Implied Credit Spread at December 31, 2021			Notional Amount (000)			Market Value			Upfront Premiums Paid/ (Received)			Unrealized Appreciation/ (Depreciation)
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00	%		Monthly		10.00	%		USD	349	$	(153,756	)	$	(142,558	)	$	(11,198	)
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00			Monthly		10.00			USD	348		(153,333	)		(141,329	)		(12,004	)
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00			Monthly		10.00			USD	348		(153,333	)		(140,493	)		(12,840	)
Morgan Stanley Capital Services LLC
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00			Monthly		10.00			USD	1,187		(331,509	)		(118,864	)		(212,645	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00			Monthly		10.00			USD	1,271		(354,949	)		(132,532	)		(222,417	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00			Monthly		10.00			USD	3,337		(932,299	)		(35,219	)		(897,080	)
												$	(26,588,410	)	$	(9,519,285	)	$	(17,069,125	)

* Termination date

TOTAL RETURN SWAPS

Counterparty & Referenced Obligation

Rate Paid/ Received

Payment Frequency

Current Notional (000)

Maturity Date

Unrealized Appreciation/ (Depreciation)

Receive Total Return on Reference Obligation

Goldman Sachs International Markit iBoxx EUR Contingent Convertible Liquid Developed Market AT1

3 Month EURIBOR

Quarterly

EUR

8,904

03/21/2022

$

(28,183

)

REVERSE REPURCHASE AGREEMENTS

Broker	Currency		Principal Amount (000)		Interest Rate			Maturity	U.S. $ Value at December 31, 2021
Barclays Capital, Inc.†		USD		1,848		(0.50	)%*	-	$	1,847,372
Barclays Capital, Inc.†		USD		1,039		(0.35	)%*	01/03/2022		1,038,620
Credit Suisse Securities (USA)†		USD		1,381		(2.00	)%*	-		1,381,159
Credit Suisse Securities (USA)†		EUR		1,040		(1.00	)%*	-		1,182,474
									$	5,449,625

† The reverse repurchase agreement matures on demand. Interest rate resets daily and the rate shown is the rate in effect on December 31, 2021

* Interest payment due from counterparty.

73

The type of underlying collateral and the remaining maturity of open reverse repurchase agreements is as follows:

	Overnight and Continuous		Up to 30 Days		31-90 Days		Greater than 90 Days		Total
Corporates – Non Investment Grade	$	0	$	5,449,625	$	0	$	5,449,625	$	5,449,625

** Principal amount less than 500.

(a) Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities are considered restricted, but liquid and may be resold in transactions exempt from registration. At December 31, 2021, the aggregate market value of these securities amounted to $726,332,666 or 65.6% of net assets.

(b) Pay-In-Kind Payments (PIK). The issuer may pay cash interest and/or interest in additional debt securities. Rates shown are the rates in effect at December 31, 2021.

(c) Non-income producing security.

(d) Fair valued by the Adviser.

(e) Defaulted matured security.

(f) Security in which significant unobservable inputs (Level 3) were used in determining fair value.

(g) Position, or a portion thereof, has been segregated to collateralize reverse repurchase agreements.

(h) Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities, which represent 0.36% of net assets as of December 31, 2021, are considered illiquid and restricted. Additional information regarding such securities follows:

144A/Restricted & Illiquid Securities	Acquisition Date	Cost		Market Value		Percentage of Net Assets
Consumer Loan Underlying Bond Certificate Issuer Trust I Series 2018-7, Class PT 11.079%, 06/15/2043	04/25/2018-06/01/2020	$	52,672	$	51,036		0.00	%
Consumer Loan Underlying Bond Certificate Issuer Trust I Series 2019-24, Class PT 11.123%, 08/15/2044	06/27/2019		133,273		136,538		0.01	%
Consumer Loan Underlying Bond Certificate Issuer Trust I Series 2019-36, Class PT 13.405%, 10/17/2044	09/04/2019		224,554		226,632		0.02	%
Consumer Loan Underlying Bond Certificate Issuer Trust I Series 2019-43, Class PT 6.581%, 11/15/2044	10/09/2019		80,912		80,573		0.01	%
Consumer Loan Underlying Bond Club Certificate Issuer Trust I Series 2018-12, Class PT 14.691%, 06/15/2043	06/26/2018		40,038		39,353		0.00	%
Consumer Loan Underlying Bond Club Certificate Issuer Trust I Series 2018-4, Class PT 12.466%, 05/15/2043	03/27/2018-05/11/2018		40,687		39,818		0.00	%
Consumer Loan Underlying Bond Credit Trust Series 2018-3, Class PT 11.205%, 03/16/2043	03/07/2018		8,702		8,412		0.00	%

74

144A/Restricted & Illiquid Securities	Acquisition Date	Cost		Market Value		Percentage of Net Assets
Diamond Offshore Drilling, Inc.	04/23/2021	$	475,210	$	87,915		0.01	%
Digicel Group Holdings Ltd. 7.00%, 01/18/2022	11/28/2016-10/01/2021		146,431		79,738		0.01	%
Exide Technologies (Exchange Priority) 11.00%, 10/31/2024	10/29/2020		0		0		0.00	%
Exide Technologies (First Lien) 11.00%, 10/31/2024	10/29/2020		0		0		0.00	%
Fideicomiso PA Pacifico Tres 7.00%, 01/15/2035	03/04/2016		1,966,346		1,779,495		0.16	%
JPMorgan Madison Avenue Securities Trust Series 2015-CH1, Class M2 5.603%, 10/25/2025	09/18/2015		532,608		537,356		0.05	%
K2016470219 South Africa Ltd. 3.00%, 12/31/2022	01/31/2017-06/30/2021		1,067,901		0		0.00	%
K2016470260 South Africa Ltd. 25.00%, 12/31/2022	01/31/2017-05/05/2013		609,165		0		0.00	%
Magnetation LLC/Mag Finance Corp. 11.00%, 01/13/2020	05/05/2013-02/19/2015		2,295,760		0		0.00	%
Odebrecht Holdco Finance Ltd. Zero Coupon, 09/10/2058	01/22/2021		623,613		14,105		0.00	%
SoFi Consumer Loan Program LLC Series 2016-1, Class R Zero Coupon, 08/25/2025	07/28/2017		67,715		216,836		0.02	%
SoFi Consumer Loan Program Trust Series 2018-1, Class R1 Zero Coupon, 02/25/2027	02/01/2018		1,569,021		307,269		0.03	%
Terraform Global Operating LLC 6.125%, 03/01/2026	02/08/2018		118,000		120,558		0.01	%
Tonon Luxembourg SA 6.50%, 10/31/2024	05/03/2019		1,209,003		0		0.00	%
Virgolino de Oliveira Finance SA 10.50%, 01/28/2018	01/23/2014-01/27/2014		2,401,854		17,008		0.01	%
Virgolino de Oliveira Finance SA 10.875%, 05/15/2018	06/09/2014		477,418		0		0.00	%
Virgolino de Oliveira Finance SA 11.75%, 02/09/2022	01/29/2014		838,866		8,080		0.00	%
Wells Fargo Credit Risk Transfer Securities Trust Series 2015-WF1, Class 2M2 5.603%, 11/25/2025	09/28/2015-02/26/2018		180,316		178,659		0.02	%

(i) Floating Rate Security. Stated interest/floor/ceiling rate was in effect at December 31, 2021.

(j) Convertible security.

(k) Defaulted.

(l) Securities are perpetual and, thus, do not have a predetermined maturity date. The date shown, if applicable, reflects the next call date.

(m) Inverse interest only security.

(n) IO - Interest Only.

(o) The stated coupon rate represents the greater of the LIBOR or an alternate base rate such as the CDOR or the LIBOR/CDOR floor rate plus a spread at December 31, 2021.

(p) This position or a portion of this position represents an unsettled loan purchase. The coupon rate will be determined at the time of settlement and will be based upon the London-Interbank Offered Rate (“LIBOR”) plus a premium which was determined at the time of purchase.

(q) Position, or a portion thereof, has been segregated to collateralize margin requirements for open futures contracts.

75

(r) Position, or a portion thereof, has been segregated to collateralize OTC derivatives outstanding.

(s) Position, or a portion thereof, has been segregated to collateralize margin requirements for open centrally cleared swaps.

(t) Affiliated investments.

(u) To obtain a copy of the fund’s shareholder report, please go to the Securities and Exchange Commission’s website at www.sec.gov, or call AB at (800) 227-4618.

(v) The rate shown represents the 7-day yield as of period end.

(w) As of December 31, 2021, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $58,904,147 and gross unrealized depreciation of investments was $(75,660,292), resulting in net unrealized depreciation of $(16,756,145).

Currency Abbreviations:

AUD – Australian Dollar

BRL – Brazilian Real

CAD – Canadian Dollar

CHF – Swiss Franc

CLP – Chilean Peso

CNH – Chinese Yuan Renminbi (Offshore)

COP – Colombian Peso

EUR – Euro

GBP – Great British Pound

IDR – Indonesian Rupiah

INR – Indian Rupee

JPY – Japanese Yen

KRW – South Korean Won

MXN – Mexican Peso

NOK – Norwegian Krone

NZD – New Zealand Dollar

PLN – Polish Zloty

RUB – Russian Ruble

SEK – Swedish Krona

SGD – Singapore Dollar

TRY – Turkish Lira

TWD – New Taiwan Dollar

USD – United States Dollar

ZAR – South African Rand

Glossary:

ABS – Asset-Backed Securities

CBT – Chicago Board of Trade

CDOR – Canadian Dealer Offered Rate

CDX-CMBX.NA – North American Commercial Mortgage-Backed Index

CDX-NAHY – North American High Yield Credit Default Swap Index

CLO – Collateralized Loan Obligations

CMBS – Commercial Mortgage-Backed Securities

EURIBOR – Euro Interbank Offered Rate

H15T – U.S. Treasury Yield Curve Rate T Note Constant Maturity

LIBOR – London Interbank Offered Rate

REIT – Real Estate Investment Trust

REMICs – Real Estate Mortgage Investment Conduits

SOFR – Secured Overnight Financing Rate

76

COUNTRY BREAKDOWN¹

December 31, 2021 (unaudited)

70.7	%	United States
3.1	%	United Kingdom
2.2	%	Canada
1.6	%	France
1.6	%	Luxembourg
1.3	%	Brazil
1.2	%	Spain
1.1	%	Mexico
0.8	%	Nigeria
0.8	%	Argentina
0.7	%	Germany
0.7	%	China
0.7	%	Egypt
12.1	%	Other
1.4	%	Short-Term
100.0	%	Total Investments

1 All data are as of December 31, 2021. The Fund’s country breakdown is expressed as a percentage of total investments and may vary over time. The Fund also enters into derivative transactions, which may be used for hedging or other investment purposes (see “Portfolio of Investments” section of the report for additional details). “Other” country weightings represent 0.7% or less in the following: Angola, Australia, Bahrain, Belgium, Bermuda, Cayman Islands, Chile, Colombia, Czech Republic, Denmark, Dominican Republic, Ecuador, El Salvador, Finland, Gabon, Ghana, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Ivory Coast, Jamaica, Japan, Jersey (Channel Islands), Kuwait, Macau, Morocco, Netherlands, Norway, Oman, Panama, Peru, Senegal, South Africa, Sweden, Switzerland, Turkey, Ukraine, Venezuela and Zambia.

77

AB Global High Income Fund

December 31, 2021 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP establishes a framework for measuring fair value, and a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability (including those valued based on their market values). Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s own assumptions about the assumptions that market participants would use in pricing the asset or liability based on the best information available in the circumstances. Each investment is assigned a level based upon the observability of the inputs which are significant to the overall valuation. The three-tier hierarchy of inputs is summarized below.

• Level 1 - 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.)

• Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The fair value of debt instruments, such as bonds, and over-the-counter derivatives is generally based on market price quotations, recently executed market transactions (where observable) or industry recognized modeling techniques and are generally classified as Level 2. Pricing vendor inputs to Level 2 valuations may include quoted prices for similar investments in active markets, interest rate curves, coupon rates, currency rates, yield curves, option adjusted spreads, default rates, credit spreads and other unique security features in order to estimate the relevant cash flows which are then discounted to calculate fair values. If these inputs are unobservable and significant to the fair value, these investments will be classified as Level 3.

Where readily available market prices or relevant bid prices are not available for certain equity investments, such investments may be valued based on similar publicly traded investments, movements in relevant indices since last available prices or based upon underlying company fundamentals and comparable company data (such as multiples to earnings or other multiples to equity). Where an investment is valued using an observable input, such as another publicly traded security, the investment will be classified as Level 2. If management determines that an adjustment is appropriate based on restrictions on resale, illiquidity or uncertainty, and such adjustment is a significant component of the valuation, the investment will be classified as Level 3. An investment will also be classified as Level 3 where management uses company fundamentals and other significant inputs to determine the valuation.

Options are valued using market-based inputs to models, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency, where such inputs and models are available. Alternatively, the values may be obtained through unobservable management determined inputs and/or management’s proprietary models. Where models are used, the selection of a particular model to value an option depends upon the contractual terms of, and specific risks inherent in, the option as well as the availability of pricing information in the market. Valuation models require a variety of inputs, including contractual terms, market prices, measures of volatility and correlations of such inputs. Exchange traded options generally will be classified as Level 2. For options that do not trade on an exchange but trade in liquid markets, inputs can generally be verified and model selection does not involve significant management judgment. Options are classified within Level 2 on the fair value hierarchy when all of the significant inputs can be corroborated to market evidence. Otherwise such instruments are classified as Level 3.

Valuations of mortgage-backed or other asset-backed securities, by pricing vendors, are based on both proprietary and industry recognized models and discounted cash flow techniques. Significant inputs to the valuation of these instruments are value of the collateral, the rates and timing of delinquencies, the rates and timing of prepayments, and default and loss expectations, which are driven in part by housing prices for residential mortgages. Significant inputs are determined based on relative value analyses, which incorporate comparisons to instruments with similar collateral and risk profiles, including relevant indices. Mortgage and asset-backed securities for which management has collected current observable data through pricing services are generally categorized within Level 2. Those investments for which current observable data has not been provided are classified as Level 3.

Bank loan prices are provided by third party pricing services and consist of a composite of the quotes received by the vendor into a consensus price. Certain bank loans are classified as Level 3, as a significant input used in the fair value measurement of these instruments is the market quotes that are received by the vendor and these inputs are not observable.

Other fixed income investments, including non-U.S. government and corporate debt, are generally valued using quoted market prices, if available, which are typically impacted by current interest rates, maturity dates and any perceived credit risk of the issuer. Additionally, in the absence of quoted market prices, these inputs are used by pricing vendors to derive a valuation based upon

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industry or proprietary models which incorporate issuer specific data with relevant yield/spread comparisons with more widely quoted bonds with similar key characteristics. Those investments for which there are observable inputs are classified as Level 2. Where the inputs are not observable, the investments are classified as Level 3.

The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of December 31, 2021:

lnvestments in Securities	Level 1			Level 2			Level 3			Total
Assets:
Corporates - Non-Investment Grade	$	-0	-	$	591,516,418		$	182,166	#	$	591,698,584
Corporates - Investment Grade		-0	-		118,313,419			-0	-		118,313,419
Collateralized Mortgage Obligations		-0	-		73,075,484			-0	-		73,075,484
Emerging Markets - Sovereigns		-0	-		71,073,143			-0	-		71,073,143
Bank Loans		-0	-		51,925,153			4,770,024			56,695,177
Emerging Markets - Corporate Bonds		-0	-		56,176,490			25,088	#		56,201,578
Governments - Treasuries		-0	-		38,042,618			-0	-		38,042,618
Collateralized Loan Obligations		-0	-		35,192,391			-0	-		35,192,391
Common Stocks		8,942,545			1,109,254			9,690,189	#		19,741,988
Quasi-Sovereigns		-0	-		11,898,666			-0	-		11,898,666
Commercial Mortgage-Backed Securities		-0	-		11,730,103			-0	-		11,730,103
Local Governments - US Municipal Bonds		-0	-		5,244,805			-0	-		5,244,805
Preferred Stocks		2,151,467			2,153,452			759,700			5,064,619
Asset-Backed Securities		-0	-		1,877,128			524,105			2,401,233
Inflation-Linked Securities		-0	-		2,350,697			-0	-		2,350,697
Governments - Sovereign Bonds		-0	-		1,023,540			0	#		1,023,540
Warrants		151,174			-0	-		740,461	#		891,635
Rights		-0	-		-0	-		14,152			14,152
Short-Term Investments:
Investment Companies		11,875,601			-0	-		-0	-		11,875,601
Time Deposits		-0	-		3,522,976			-0	-		3,522,976
Total Investments in Securities		23,120,787			1,076,225,737			16,705,885			1,116,052,409
Other Financial Instruments*:
Assets
Futures		959,789			-0	-		-0	-		959,789
Forward Currency Exchange Contracts		-0	-		1,032,831			-0	-		1,032,831
Centrally Cleared Credit Default Swaps		-0	-		19,982,534			-0	-		19,982,534
Credit Default Swaps		-0	-		56,368			-0	-		56,368
Liabilities
Forward Currency Exchange Contracts		-0	-		(43,457	)		-0	-		(43,457	)
Interest Rate Swaptions Written		-0	-		(7,167	)		-0	-		(7,167	)
Centrally Cleared Credit Default Swaps		-0	-		(127,818	)		-0	-		(127,818	)
Credit Default Swaps		-0	-		(26,644,778	)		-0	-		(26,644,778	)
Total Return Swaps		-0	-		(28,183	)		-0	-		(28,183	)
Reverse Repurchase Agreements		(5,449,625	)		-0	-		-0	-		(5,449,625	)
Total	$	18,630,951		$	1,070,446,067		$	16,705,885		$	1,105,782,903

# The Fund held securities with zero market value at period end.

* Other financial instruments are derivative instruments, such as futures, forwards and swaps, which are valued at the unrealized appreciation/(depreciation) on the instrument. Other financial instruments may also include swaps with upfront premiums, options written and swaptions written which are valued at market value.

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The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining fair value.

	Corporates - Non- Investment Grade#			Bank Loans			Emerging Markets - Corporate Bonds#			Common Stocks#
Balance as of 3/31/21	$	918,294		$	9,461,745		$	18,606		$	9,271,699
Accrued discounts/(premiums)		-0	-		-0	-		(13,028	)		-0	-
Realized gain (loss)		953			44,242			-0	-		2,226,630
Change in unrealized appreciation/depreciation		(30,826	)		(22,488	)		(268,275	)		1,287,556
Purchases/Payups		-0	-		1,542,417			86,558			592,433
Sales		(706,255	)		(4,206,370	)		-0	-		(3,553,296	)
Transfers into Level 3		-0	-		87,688			201,227			3,987
Transfers out of Level 3		-0	-		(2,137,210	)		-0	-		(138,820	)
Balance as of 12/31/21	$	182,166		$	4,770,024		$	25,088		$	9,690,189
Net change in unrealized appreciation/depreciation from investments held as of 12/31/21	$	(22,081	)	$	23,025		$	(268,275	)	$	2,156,261
	Preferred Stocks			Asset-Backed Securities			Governments - Sovereign Bonds#			Warrants#
Balance as of 3/31/21	$	-0	-	$	1,355,622		$	-0	-	$	378,031
Accrued discounts/(premiums)		-0	-		-0	-		-0	-		-0	-
Realized gain (loss)		-0	-		(2,203,096	)		-0	-		-0	-
Change in unrealized appreciation/depreciation		642,900			1,681,630			-0	-		362,430
Purchases		116,800			-0	-		-0	-		-0	-
Sales/Paydowns		-0	-		(310,051	)		-0	-		-0	-
Transfers into Level 3		-0	-		-0	-		-0	-		-0	-
Transfers out of Level 3		-0	-		-0	-		-0	-		-0	-
Balance as of 12/31/21	$	759,700		$	524,105		$	-0	-	$	740,461
Net change in unrealized appreciation/depreciation from investments held as of 12/31/21	$	642,900		$	(92,236	)	$	-0	-	$	362,430

	Rights			Total
Balance as of 3/31/21	$	11,761		$	21,415,758
Accrued discounts/(premiums)		-0	-		(13,028	)
Realized gain (loss)		-0	-		68,729
Change in unrealized appreciation/depreciation		2,391			3,655,318
Purchases/Payups		-0	-		2,338,208
Sales/Paydowns		-0	-		(8,775,972	)
Transfers into Level 3		-0	-		292,902
Transfers out of Level 3		-0	-		(2,276,030	)
Balance as of 12/31/21	$	14,152		$	16,705,885
Net change in unrealized appreciation/depreciation from investments held as of 12/31/21	$	2,391		$	2,804,415

# The Fund held securities with zero market value that were sold/expired/written off during the reporting period.

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The following presents information about significant unobservable inputs related to the Fund’s Level 3 investments at December 31, 2021. Securities priced (i) by third party vendors, (ii) by brokers or (iii) using prior transaction prices, which approximates fair value, are excluded from the following table.

	Quantitative Information about Level 3 Fair Value Measurements
	Fair Value at 12/31/2021			Valuation Technique	Unobservable Input	Input
Corporates - Non-Investment Grade	$	182,166		Recovery Analysis	Collateral Value	$75.90
	$	-0	-	Qualitative Assessment		$0.00
	$	182,166
Emerging Markets - Corporate Bonds	$	17,008		Qualitative Assessment		$0.00
	$	8,080		Qualitative Assessment		$0.00
	$	-0	-	Qualitative Assessment		$0.00
	$	25,088
Common Stocks	$	2,893,132		Market Approach	NAV Equivalent	$938.68
	$	1,060,950		Market Approach	Projected Enterprise Value	$681.6mm to $754.1mm
	$	700,123		Market Approach	NAV Equivalent	$1,000.18
	$	1		Qualitative Assessment		$0.00
	$	-0	-	Qualitative Assessment		$0.00
	$	-0	-	Qualitative Assessment		$0.00
	$	4,654,206
Governments - Sovereign Bonds	$	-0	-	Qualitative Assessment		$0.00
Warrants	$	740,461		Option Pricing Model	Exercise Price	$25.43

Generally, a change in the assumptions used in any input in isolation may be accompanied by a change in another input. Significant changes in any of the unobservable inputs may significantly impact the fair value measurement. Significant increases (decreases) in Collateral Value, NAV Equivalent, Projected Enterprise Value and Exercise Price in isolation would be expected to result in a significantly higher (lower) fair value measurement.

A summary of the Fund’s transactions in AB mutual funds for the nine months ended December 31, 2021 is as follows:

Fund	Market Value 3/31/21 (000)		Purchases at Cost (000)		Sales Proceeds (000)		Market Value 12/31/21 (000)		Dividend Income (000)
Government Money Market Portfolio	$	47,718	$	199,918	$	235,760	$	11,876	$	1

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