Principal Amount USD ($) | | | | | | Value |
| Building Materials — (continued) | |
61,000 | MIWD Holdco II LLC/MIWD Finance Corp., 5.50%, 2/1/30 (144A) | $ 59,251 |
75,000 | Standard Building Solutions, Inc., 6.50%, 8/15/32 (144A) | 77,659 |
| Total Building Materials | $698,069 |
| Chemicals — 5.2% | |
304,000 | Mativ Holdings, Inc., 6.875%, 10/1/26 (144A) | $ 303,863 |
75,000(f) | Mativ Holdings, Inc., 8.00%, 10/1/29 (144A) | 76,551 |
153,000 | NOVA Chemicals Corp., 4.25%, 5/15/29 (144A) | 142,249 |
285,000 | Olympus Water US Holding Corp., 9.75%, 11/15/28 (144A) | 304,169 |
200,000 | SCIL IV LLC/SCIL USA Holdings LLC, 5.375%, 11/1/26 (144A) | 197,516 |
EUR153,000 | SCIL IV LLC/SCIL USA Holdings LLC, 9.50%, 7/15/28 (144A) | 183,814 |
302,000 | Tronox, Inc., 4.625%, 3/15/29 (144A) | 282,106 |
| Total Chemicals | $1,490,268 |
| Coal — 0.8% | |
220,000 | Alliance Resource Operating Partners LP/Alliance Resource Finance Corp., 8.625%, 6/15/29 (144A) | $ 233,781 |
| Total Coal | $233,781 |
| Commercial Services — 5.9% | |
35,000 | Allied Universal Holdco LLC, 7.875%, 2/15/31 (144A) | $ 35,752 |
215,000 | Allied Universal Holdco LLC/Allied Universal Finance Corp., 9.75%, 7/15/27 (144A) | 215,462 |
95,000 | Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 8.25%, 1/15/30 (144A) | 97,179 |
135,000 | Block, Inc., 6.50%, 5/15/32 (144A) | 140,578 |
20,000 | Brink's Co., 6.50%, 6/15/29 (144A) | 20,719 |
208,000 | Champions Financing, Inc., 8.75%, 2/15/29 (144A) | 211,859 |
80,000 | Garda World Security Corp., 7.75%, 2/15/28 (144A) | 82,953 |
206,000 | Garda World Security Corp., 9.50%, 11/1/27 (144A) | 206,271 |
169,000 | NESCO Holdings II, Inc., 5.50%, 4/15/29 (144A) | 155,780 |
120,000 | Prime Security Services Borrower LLC/Prime Finance, Inc., 5.75%, 4/15/26 (144A) | 120,548 |
69,000 | Prime Security Services Borrower LLC/Prime Finance, Inc., 6.25%, 1/15/28 (144A) | 69,019 |
280,000 | Sotheby's, 7.375%, 10/15/27 (144A) | 269,485 |
55,000 | Williams Scotsman, Inc., 6.625%, 6/15/29 (144A) | 56,627 |
| Total Commercial Services | $1,682,232 |
| Computers — 0.6% | |
30,000 | Amentum Escrow Corp., 7.25%, 8/1/32 (144A) | $ 31,309 |
30,000 | Fortress Intermediate 3, Inc., 7.50%, 6/1/31 (144A) | 31,651 |
90,000 | NCR Voyix Corp., 5.00%, 10/1/28 (144A) | 88,336 |
17,000 | NCR Voyix Corp., 5.125%, 4/15/29 (144A) | 16,635 |
| Total Computers | $167,931 |
| Distribution/Wholesale — 0.9% | |
134,000 | Velocity Vehicle Group LLC, 8.00%, 6/1/29 (144A) | $ 139,522 |
105,000 | Windsor Holdings III LLC, 8.50%, 6/15/30 (144A) | 112,316 |
| Total Distribution/Wholesale | $251,838 |
| Diversified Financial Services — 7.2% | |
135,000(e) | Ally Financial, Inc., 6.184% (SOFR + 229 bps), 7/26/35 | $ 138,165 |
95,000 | Focus Financial Partners LLC, 6.75%, 9/15/31 (144A) | 95,907 |
55,000 | Freedom Mortgage Holdings LLC, 9.125%, 5/15/31 (144A) | 56,546 |
65,000 | Freedom Mortgage Holdings LLC, 9.25%, 2/1/29 (144A) | 67,564 |
25,000 | GGAM Finance, Ltd., 7.75%, 5/15/26 (144A) | 25,563 |