SPDR Bloomberg Barclays Convertible Securities ETF |
SPDR Bloomberg Barclays High Yield Bond ETF |
SPDR Bloomberg Barclays Short Term High Yield Bond ETF |
|
1 |
Management’s Discussion of Fund Performance, Performance Summaries & Portfolio Statistics (Unaudited) | |
|
2 |
|
5 |
|
8 |
Schedules of Investments | |
|
11 |
|
29 |
|
82 |
|
120 |
|
125 |
|
128 |
|
143 |
|
145 |
Cumulative Total Return | Average Annual Total Return | ||||||
Net
Asset Value |
Market
Value |
Bloomberg Barclays U.S. Convertible Liquid Bond Index | Net
Asset Value |
Market
Value |
Bloomberg Barclays U.S. Convertible Liquid Bond Index | ||
ONE YEAR | 47.75% | 47.23% | 49.11% | 47.75% | 47.23% | 49.11% | |
FIVE YEARS | 141.86% | 141.42% | 149.71% | 19.32% | 19.28% | 20.08% | |
TEN YEARS | 234.66% | 234.96% | 253.74% | 12.84% | 12.85% | 13.47% |
Description | % of Net Assets | ||
Wells
Fargo & Co. 7.50% 12/31/2049 |
1.9% | ||
Broadcom,
Inc. 8.00% 9/30/2022 |
1.8 | ||
Bank
of America Corp. 7.25% 12/31/2049 |
1.4 | ||
Sea,
Ltd. 2.38% 12/1/2025 |
1.1 | ||
Southwest
Airlines Co. 1.25% 5/1/2025 |
1.1 | ||
TOTAL | 7.3% |
% of Net Assets | |||
Corporate Bonds & Notes | 79.0% | ||
Convertible Preferred Stocks | 20.8 | ||
Short-Term Investments | 5.8 | ||
Liabilities in Excess of Other Assets | (5.6) | ||
TOTAL | 100.0% |
% of Net Assets | |||
Communications | 27.8% | ||
Technology | 23.2 | ||
Consumer, Non-cyclical | 17.2 | ||
Consumer, Cyclical | 11.5 | ||
Financial | 6.6 | ||
Utilities | 6.5 | ||
Energy | 2.7 | ||
Industrial | 2.6 | ||
Basic Materials | 1.7 | ||
Short-Term Investments | 5.8 | ||
Liabilities in Excess of Other Assets | (5.6) | ||
TOTAL | 100.0% |
Cumulative Total Return | Average Annual Total Return | ||||||
Net
Asset Value |
Market
Value |
Bloomberg Barclays High Yield Very Liquid Index | Net
Asset Value |
Market
Value |
Bloomberg Barclays High Yield Very Liquid Index | ||
ONE YEAR | 13.99% | 14.01% | 14.12% | 13.99% | 14.01% | 14.12% | |
FIVE YEARS | 36.43% | 34.99% | 40.17% | 6.41% | 6.18% | 6.99% | |
TEN YEARS | 67.07% | 65.93% | 83.69% | 5.27% | 5.19% | 6.27% |
Description | % of Net Assets | ||
TransDigm,
Inc. 6.25% 3/15/2026 |
0.4% | ||
Carnival
Corp. 11.50% 4/1/2023 |
0.4 | ||
Centene
Corp. 4.63% 12/15/2029 |
0.3 | ||
Carnival
Corp. 5.75% 3/1/2027 |
0.3 | ||
American
Airlines, Inc./AAdvantage Loyalty IP, Ltd. 5.50% 4/20/2026 |
0.3 | ||
TOTAL | 1.7% |
% of Net Assets | |||
Corporate Bonds & Notes | 98.1% | ||
Common Stocks | 0.0 * | ||
Short-Term Investments | 6.4 | ||
Liabilities in Excess of Other Assets | (4.5) | ||
TOTAL | 100.0% |
* | Amount shown represents less than 0.05% of net assets. |
% of Net Assets | |||
Consumer, Cyclical | 21.2% | ||
Consumer, Non-cyclical | 18.2 | ||
Communications | 17.2 | ||
Energy | 12.8 | ||
Financial | 9.7 | ||
Industrial | 8.4 | ||
Basic Materials | 4.1 | ||
Technology | 4.0 | ||
Utilities | 2.5 | ||
Short-Term Investments | 6.4 | ||
Liabilities in Excess of Other Assets | (4.5) | ||
TOTAL | 100.0% |
Cumulative Total Return | Average Annual Total Return | ||||||
Net
Asset Value |
Market
Value |
Bloomberg Barclays US High Yield 350mn Cash Pay 0-5 Yr 2% Capped Index | Net
Asset Value |
Market
Value |
Bloomberg Barclays US High Yield 350mn Cash Pay 0-5 Yr 2% Capped Index | ||
ONE YEAR | 14.79% | 14.92% | 14.83% | 14.79% | 14.92% | 14.83% | |
FIVE YEARS | 35.18% | 34.40% | 35.88% | 6.21% | 6.09% | 6.32% | |
SINCE INCEPTION(1) | 52.58% | 52.82% | 62.79% | 4.65% | 4.67% | 5.38% |
(1) | For the period March 14, 2012 to June 30, 2021. Since shares of the Fund did not trade in the secondary market until one day after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (3/14/12, 3/15/12, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. |
Description | % of Net Assets | ||
TransDigm,
Inc. 6.25% 3/15/2026 |
0.8% | ||
Carnival
Corp. 11.50% 4/1/2023 |
0.7 | ||
Caesars
Entertainment, Inc. 6.25% 7/1/2025 |
0.6 | ||
American
Airlines, Inc. 11.75% 7/15/2025 |
0.6 | ||
Sprint
Corp. 7.88% 9/15/2023 |
0.6 | ||
TOTAL | 3.3% |
% of Net Assets | |||
Corporate Bonds & Notes | 96.7% | ||
Common Stocks | 0.1 | ||
Warrants | 0.0 * | ||
Senior Floating Rate Loans | 0.0 * | ||
Short-Term Investments | 7.3 | ||
Liabilities in Excess of Other Assets | (4.1) | ||
TOTAL | 100.0% |
* | Amount shown represents less than 0.05% of net assets. |
% of Net Assets | |||
Consumer, Cyclical | 25.6% | ||
Energy | 13.2 | ||
Communications | 13.2 | ||
Consumer, Non-cyclical | 12.4 | ||
Financial | 12.1 | ||
Industrial | 9.7 | ||
Technology | 4.4 | ||
Basic Materials | 4.2 | ||
Utilities | 1.8 | ||
Diversified | 0.2 | ||
Short-Term Investments | 7.3 | ||
Liabilities in Excess of Other Assets | (4.1) | ||
TOTAL | 100.0% |
Security Description | Principal
Amount |
Value | ||||
CORPORATE BONDS & NOTES — 79.0% | ||||||
AIRLINES — 2.3% | ||||||
American Airlines Group, Inc. 6.50%, 7/1/2025 (a)
|
$ 20,940,000 | $ 32,816,330 | ||||
Copa Holdings SA 4.50%, 4/15/2025
|
7,350,000 | 12,009,239 | ||||
GOL Equity Finance SA 3.75%, 7/15/2024 (b)
|
8,720,000 | 7,891,251 | ||||
JetBlue Airways Corp. 0.50%, 4/1/2026 (a) (b)
|
13,315,000 | 13,307,810 | ||||
Southwest Airlines Co. 1.25%, 5/1/2025
|
47,805,000 | 72,428,400 | ||||
Spirit Airlines, Inc. 1.00%, 5/15/2026 (a)
|
10,930,000 | 10,492,581 | ||||
148,945,611 | ||||||
APPAREL — 0.3% | ||||||
Under Armour, Inc. 1.50%, 6/1/2024
|
10,192,000 | 20,039,001 | ||||
AUTO MANUFACTURERS — 1.7% | ||||||
Ford Motor Co. Zero Coupon, 3/15/2026 (b)
|
48,830,000 | 54,041,626 | ||||
Li Auto, Inc. 0.25%, 5/1/2028 (b)
|
20,195,000 | 28,145,166 | ||||
NIO, Inc.: | ||||||
Zero Coupon, 2/1/2026 (a) (b)
|
16,905,000 | 16,080,543 | ||||
0.50%, 2/1/2027 (a) (b)
|
15,400,000 | 14,520,814 | ||||
112,788,149 | ||||||
BANKS — 0.2% | ||||||
JPMorgan Chase Bank NA 0.13%, 1/1/2023 (a) (b)
|
10,778,000 | 11,999,902 | ||||
BIOTECHNOLOGY — 3.9% | ||||||
BioMarin Pharmaceutical, Inc.: | ||||||
0.60%, 8/1/2024 (a)
|
8,990,000 | 9,349,510 | ||||
1.25%, 5/15/2027
|
12,236,000 | 12,296,201 | ||||
Bridgebio Pharma, Inc.: | ||||||
2.25%, 2/1/2029 (b)
|
15,600,000 | 15,142,140 | ||||
2.50%, 3/15/2027
|
11,170,000 | 18,324,497 | ||||
Exact Sciences Corp.: | ||||||
0.38%, 3/15/2027
|
22,715,000 | 30,125,769 |
Security Description | Principal
Amount |
Value | ||||
0.38%, 3/1/2028
|
$ 25,683,000 | $ 31,876,199 | ||||
1.00%, 1/15/2025 (a)
|
2,770,000 | 4,907,720 | ||||
Guardant Health, Inc. Zero Coupon, 11/15/2027 (b)
|
24,360,000 | 27,848,352 | ||||
Halozyme Therapeutics, Inc. 0.25%, 3/1/2027 (b)
|
13,810,000 | 12,931,131 | ||||
Illumina, Inc. Zero Coupon, 8/15/2023 (a)
|
19,058,000 | 24,221,765 | ||||
Insmed, Inc.: | ||||||
0.75%, 6/1/2028 (a)
|
11,920,000 | 13,236,445 | ||||
1.75%, 1/15/2025
|
704,000 | 739,545 | ||||
Intercept Pharmaceuticals, Inc. 3.25%, 7/1/2023
|
7,738,000 | 6,951,896 | ||||
Ionis Pharmaceuticals, Inc.: | ||||||
Zero Coupon, 4/1/2026 (b)
|
8,445,000 | 8,241,898 | ||||
0.13%, 12/15/2024
|
14,880,000 | 13,818,758 | ||||
Ligand Pharmaceuticals, Inc. 0.75%, 5/15/2023
|
12,052,000 | 11,917,861 | ||||
Livongo Health, Inc. 0.88%, 6/1/2025
|
9,440,000 | 14,996,101 | ||||
256,925,788 | ||||||
COMMERCIAL SERVICES — 3.7% | ||||||
2U, Inc. 2.25%, 5/1/2025
|
8,856,000 | 14,519,058 | ||||
Alarm.com Holdings, Inc. Zero Coupon, 1/15/2026 (b)
|
10,110,000 | 9,315,961 | ||||
Chegg, Inc.: | ||||||
Zero Coupon, 9/1/2026 (b)
|
19,570,000 | 20,350,452 | ||||
0.13%, 3/15/2025 (a)
|
14,793,000 | 24,961,560 | ||||
Euronet Worldwide, Inc. 0.75%, 3/15/2049 (a)
|
10,041,000 | 11,538,213 | ||||
Repay Holdings Corp. Zero Coupon, 2/1/2026 (b)
|
10,580,000 | 10,501,920 | ||||
Shift4 Payments, Inc. Zero Coupon, 12/15/2025 (b)
|
15,362,000 | 20,725,335 | ||||
Square, Inc.: | ||||||
Zero Coupon, 5/1/2026 (b)
|
9,935,000 | 11,183,531 | ||||
0.13%, 3/1/2025
|
21,844,000 | 44,994,053 | ||||
0.25%, 11/1/2027 (a) (b)
|
14,110,000 | 16,421,641 | ||||
0.50%, 5/15/2023
|
17,011,000 | 53,179,618 |
Security Description | Principal
Amount |
Value | ||||
Stride, Inc. 1.13%, 9/1/2027 (b)
|
$ 8,890,000 | $ 8,267,433 | ||||
245,958,775 | ||||||
COMPUTERS — 2.4% | ||||||
CyberArk Software, Ltd. Zero Coupon, 11/15/2024
|
10,092,000 | 10,944,370 | ||||
Insight Enterprises, Inc. 0.75%, 2/15/2025
|
6,874,000 | 10,485,187 | ||||
KBR, Inc. 2.50%, 11/1/2023
|
5,855,000 | 9,163,836 | ||||
Lumentum Holdings, Inc.: | ||||||
0.25%, 3/15/2024
|
8,713,000 | 12,705,732 | ||||
0.50%, 12/15/2026
|
21,381,000 | 23,164,176 | ||||
Parsons Corp. 0.25%, 8/15/2025 (b)
|
8,545,000 | 9,072,227 | ||||
Pure Storage, Inc. 0.13%, 4/15/2023
|
11,683,000 | 12,264,930 | ||||
Rapid7, Inc. 0.25%, 3/15/2027 (b)
|
12,815,000 | 14,221,831 | ||||
Western Digital Corp. 1.50%, 2/1/2024 (a)
|
20,963,000 | 22,373,391 | ||||
Zscaler, Inc. 0.13%, 7/1/2025 (b)
|
23,945,000 | 37,336,241 | ||||
161,731,921 | ||||||
DIVERSIFIED FINANCIAL SERVICES — 0.8% | ||||||
Coinbase Global, Inc. 0.50%, 6/1/2026 (b)
|
29,905,000 | 30,285,391 | ||||
JPMorgan Chase Financial Co. LLC 0.25%, 5/1/2023 (b)
|
12,040,000 | 13,021,742 | ||||
LendingTree, Inc. 0.50%, 7/15/2025 (b)
|
10,814,000 | 9,755,742 | ||||
53,062,875 | ||||||
ELECTRIC — 0.3% | ||||||
NRG Energy, Inc. 2.75%, 6/1/2048
|
15,020,000 | 17,450,236 | ||||
ELECTRONICS — 0.7% | ||||||
Fortive Corp. 0.88%, 2/15/2022
|
24,339,000 | 24,418,588 | ||||
Itron, Inc. Zero Coupon, 3/15/2026 (b)
|
13,740,000 | 14,234,503 |
Security Description | Principal
Amount |
Value | ||||
Vishay Intertechnology, Inc. 2.25%, 6/15/2025
|
$ 9,335,000 | $ 9,822,660 | ||||
48,475,751 | ||||||
ENERGY-ALTERNATE SOURCES — 1.5% | ||||||
Enphase Energy, Inc.: | ||||||
Zero Coupon, 3/1/2026 (b)
|
12,420,000 | 12,161,167 | ||||
Zero Coupon, 3/1/2028 (b)
|
10,930,000 | 10,607,674 | ||||
NextEra Energy Partners L.P.: | ||||||
Zero Coupon, 6/15/2024 (b)
|
10,930,000 | 10,893,603 | ||||
Zero Coupon, 11/15/2025 (a) (b)
|
14,390,000 | 15,614,445 | ||||
SolarEdge Technologies, Inc. Zero Coupon, 9/15/2025 (b)
|
12,830,000 | 16,074,836 | ||||
Sunnova Energy International, Inc. 0.25%, 12/1/2026 (b)
|
11,920,000 | 14,783,065 | ||||
SunPower Corp. 4.00%, 1/15/2023
|
10,470,000 | 14,905,092 | ||||
Sunrun, Inc. Zero Coupon, 2/1/2026 (a) (b)
|
7,950,000 | 7,153,728 | ||||
102,193,610 | ||||||
ENTERTAINMENT — 1.4% | ||||||
Cinemark Holdings, Inc. 4.50%, 8/15/2025 (b)
|
8,480,000 | 15,053,696 | ||||
DraftKings, Inc. Zero Coupon, 3/15/2028 (b)
|
26,925,000 | 24,249,463 | ||||
Live Nation Entertainment, Inc.: | ||||||
2.00%, 2/15/2025 (a)
|
9,039,000 | 10,095,297 | ||||
2.50%, 3/15/2023
|
11,100,000 | 15,556,983 | ||||
Marriott Vacations Worldwide Corp. Zero Coupon, 1/15/2026 (b)
|
11,500,000 | 12,681,855 | ||||
Vail Resorts, Inc. Zero Coupon, 1/1/2026 (a) (b)
|
12,320,000 | 12,858,507 | ||||
90,495,801 | ||||||
FOOD — 0.4% | ||||||
Beyond Meat, Inc. Zero Coupon, 3/15/2027 (b)
|
23,545,000 | 24,097,601 | ||||
HEALTH CARE PRODUCTS — 2.0% | ||||||
Envista Holdings Corp. 2.38%, 6/1/2025 (a)
|
9,834,000 | 20,982,511 | ||||
Haemonetics Corp. Zero Coupon, 3/1/2026 (b)
|
10,555,000 | 8,890,687 |
Security Description | Principal
Amount |
Value | ||||
Insulet Corp. 0.38%, 9/1/2026
|
$ 16,719,000 | $ 22,700,724 | ||||
Integra LifeSciences Holdings Corp. 0.50%, 8/15/2025
|
11,991,000 | 13,150,410 | ||||
Novocure, Ltd. Zero Coupon, 11/1/2025 (b)
|
10,880,000 | 16,389,088 | ||||
NuVasive, Inc.: | ||||||
0.38%, 3/15/2025
|
8,954,000 | 8,873,235 | ||||
1.00%, 6/1/2023
|
8,954,000 | 9,354,065 | ||||
Omnicell, Inc. 0.25%, 9/15/2025 (b)
|
11,635,000 | 18,810,072 | ||||
SmileDirectClub, Inc. Zero Coupon, 2/1/2026 (b)
|
15,895,000 | 13,044,549 | ||||
132,195,341 | ||||||
HEALTH CARE SERVICES — 0.8% | ||||||
Invitae Corp. 2.00%, 9/1/2024
|
7,971,000 | 10,814,335 | ||||
Oak Street Health, Inc. Zero Coupon, 3/15/2026 (b)
|
18,580,000 | 18,994,148 | ||||
Teladoc Health, Inc. 1.25%, 6/1/2027 (a)
|
20,756,000 | 23,273,703 | ||||
53,082,186 | ||||||
HOME BUILDERS — 0.1% | ||||||
LCI Industries 1.13%, 5/15/2026 (b)
|
7,950,000 | 8,106,058 | ||||
INTERNET — 21.6% | ||||||
21Vianet Group, Inc. Zero Coupon, 2/1/2026 (a) (b)
|
13,015,000 | 11,382,789 | ||||
Airbnb, Inc. Zero Coupon, 3/15/2026 (b)
|
40,985,000 | 38,597,624 | ||||
Booking Holdings, Inc.: | ||||||
0.75%, 5/1/2025 (a)
|
17,212,000 | 24,383,896 | ||||
0.90%, 9/15/2021
|
20,475,000 | 22,266,358 | ||||
Etsy, Inc.: | ||||||
0.13%, 10/1/2026
|
13,995,000 | 33,540,137 | ||||
0.13%, 9/1/2027 (a) (b)
|
16,515,000 | 21,223,261 | ||||
0.25%, 6/15/2028 (b)
|
16,425,000 | 18,106,099 | ||||
Expedia Group, Inc. Zero Coupon, 2/15/2026 (a) (b)
|
19,375,000 | 20,973,631 |
Security Description | Principal
Amount |
Value | |||
Farfetch, Ltd. 3.75%, 5/1/2027
|
$ 8,445,000 | $ 27,504,858 | |||
FireEye, Inc.: | |||||
0.88%, 6/1/2024
|
16,691,000 | 18,941,114 | |||
Series B, 1.63%, 6/1/2035 (a)
|
7,880,000 | 7,833,587 | |||
Fiverr International, Ltd. Zero Coupon, 11/1/2025 (b)
|
8,595,000 | 11,496,242 | |||
fuboTV, Inc. 3.25%, 2/15/2026 (b)
|
7,205,000 | 7,087,919 | |||
iQIYI, Inc.: | |||||
2.00%, 4/1/2025
|
22,304,000 | 20,900,186 | |||
3.75%, 12/1/2023
|
15,809,000 | 15,933,259 | |||
4.00%, 12/15/2026
|
18,705,000 | 18,757,748 | |||
JOYY, Inc.: | |||||
0.75%, 6/15/2025
|
10,370,000 | 10,403,495 | |||
1.38%, 6/15/2026
|
10,320,000 | 10,170,257 | |||
Lyft, Inc. 1.50%, 5/15/2025
|
15,275,000 | 26,097,490 | |||
Magnite, Inc. 0.25%, 3/15/2026 (b)
|
5,960,000 | 5,339,683 | |||
Match Group Financeco 2, Inc. 0.88%, 6/15/2026 (b)
|
12,411,000 | 23,811,745 | |||
Match Group Financeco 3, Inc. 2.00%, 1/15/2030 (b)
|
12,570,000 | 25,592,520 | |||
Match Group Financeco, Inc. 0.88%, 10/1/2022 (b)
|
10,122,000 | 37,113,021 | |||
MercadoLibre, Inc. 2.00%, 8/15/2028 (a)
|
8,846,000 | 31,345,713 | |||
Momo, Inc. 1.25%, 7/1/2025
|
11,697,000 | 10,448,579 | |||
NortonLifeLock, Inc. 2.00%, 8/15/2022 (b)
|
13,720,000 | 18,830,014 | |||
Okta, Inc.: | |||||
0.13%, 9/1/2025 (a)
|
22,705,000 | 32,758,547 | |||
0.38%, 6/15/2026
|
22,813,000 | 28,401,501 | |||
Palo Alto Networks, Inc.: | |||||
0.38%, 6/1/2025
|
42,590,000 | 57,886,198 | |||
0.75%, 7/1/2023
|
32,950,000 | 48,049,008 | |||
Pinduoduo, Inc. Zero Coupon, 12/1/2025 (a)
|
41,131,000 | 42,334,904 | |||
Proofpoint, Inc. 0.25%, 8/15/2024
|
18,694,000 | 23,392,363 |
Security Description | Principal
Amount |
Value | ||||
Q2 Holdings, Inc. 0.13%, 11/15/2025 (b)
|
$ 7,625,000 | $ 7,677,460 | ||||
Sea, Ltd.: | ||||||
1.00%, 12/1/2024
|
8,887,000 | 48,553,680 | ||||
2.38%, 12/1/2025
|
23,675,000 | 73,089,460 | ||||
Shopify, Inc. 0.13%, 11/1/2025 (a)
|
18,010,000 | 23,420,204 | ||||
Snap, Inc.: | ||||||
Zero Coupon, 5/1/2027 (b)
|
24,855,000 | 26,575,960 | ||||
0.25%, 5/1/2025
|
12,360,000 | 38,901,122 | ||||
0.75%, 8/1/2026
|
16,790,000 | 50,685,316 | ||||
Spotify USA, Inc. Zero Coupon, 3/15/2026 (b)
|
28,315,000 | 26,563,151 | ||||
Twitter, Inc.: | ||||||
Zero Coupon, 3/15/2026 (b)
|
26,825,000 | 25,650,870 | ||||
0.25%, 6/15/2024
|
26,564,000 | 36,559,236 | ||||
1.00%, 9/15/2021
|
21,790,000 | 22,231,030 | ||||
Uber Technologies, Inc. Zero Coupon, 12/15/2025 (a) (b)
|
23,300,000 | 23,668,839 | ||||
Wayfair, Inc.: | ||||||
0.63%, 10/1/2025 (b)
|
33,155,000 | 35,367,765 | ||||
1.00%, 8/15/2026
|
19,670,000 | 43,344,812 | ||||
Wayfair, Inc. 1.13%, 11/1/2024
|
11,059,000 | 30,117,085 | ||||
Weibo Corp. 1.25%, 11/15/2022 (a)
|
18,074,000 | 17,599,919 | ||||
Wix.com, Ltd.: | ||||||
Zero Coupon, 7/1/2023
|
7,988,000 | 16,518,705 | ||||
Zero Coupon, 8/15/2025 (b)
|
11,322,000 | 11,843,265 | ||||
Zendesk, Inc. 0.63%, 6/15/2025
|
22,405,000 | 32,772,466 | ||||
Zillow Group, Inc.: | ||||||
0.75%, 9/1/2024
|
13,885,000 | 39,002,826 | ||||
1.38%, 9/1/2026
|
9,645,000 | 27,273,649 | ||||
2.75%, 5/15/2025
|
11,327,000 | 22,508,675 | ||||
1,430,829,241 | ||||||
INVESTMENT COMPANY SECURITY — 0.2% | ||||||
Ares Capital Corp.: | ||||||
3.75%, 2/1/2022
|
7,575,000 | 7,939,358 | ||||
4.63%, 3/1/2024
|
7,528,000 | 8,263,335 | ||||
16,202,693 |
Security Description | Principal
Amount |
Value | ||||
IRON/STEEL — 0.2% | ||||||
United States Steel Corp. 5.00%, 11/1/2026
|
$ 7,266,000 | $ 14,693,378 | ||||
LEISURE TIME — 2.5% | ||||||
Carnival Corp. 5.75%, 4/1/2023
|
10,980,000 | 30,094,094 | ||||
NCL Corp., Ltd.: | ||||||
5.38%, 8/1/2025 (b)
|
9,400,000 | 17,099,164 | ||||
6.00%, 5/15/2024
|
17,785,000 | 41,275,784 | ||||
Peloton Interactive, Inc. Zero Coupon, 2/15/2026 (b)
|
24,375,000 | 23,649,356 | ||||
Royal Caribbean Cruises, Ltd.: | ||||||
2.88%, 11/15/2023 (b)
|
16,095,000 | 20,193,913 | ||||
4.25%, 6/15/2023 (b)
|
23,283,000 | 31,791,074 | ||||
164,103,385 | ||||||
LODGING — 0.4% | ||||||
Huazhu Group, Ltd.: | ||||||
0.38%, 11/1/2022 (a)
|
8,385,000 | 10,549,252 | ||||
3.00%, 5/1/2026 (a) (b)
|
11,446,000 | 16,469,192 | ||||
27,018,444 | ||||||
MACHINERY-DIVERSIFIED — 0.3% | ||||||
Middleby Corp. 1.00%, 9/1/2025 (b)
|
14,555,000 | 21,021,204 | ||||
MEDIA — 4.6% | ||||||
Cable One, Inc. Zero Coupon, 3/15/2026 (b)
|
9,935,000 | 9,947,319 | ||||
DISH Network Corp.: | ||||||
Zero Coupon, 12/15/2025 (b)
|
43,170,000 | 50,285,711 | ||||
2.38%, 3/15/2024
|
19,717,000 | 19,131,208 | ||||
3.38%, 8/15/2026
|
61,723,000 | 63,058,069 | ||||
Liberty Broadband Corp.: | ||||||
1.25%, 9/30/2050 (b)
|
21,375,000 | 21,552,626 | ||||
2.75%, 9/30/2050 (b)
|
10,332,000 | 10,900,777 | ||||
Liberty Interactive LLC: | ||||||
1.75%, 9/30/2046 (a) (b)
|
5,672,000 | 12,035,133 | ||||
3.75%, 2/15/2030
|
8,990,000 | 6,784,124 | ||||
4.00%, 11/15/2029
|
7,657,000 | 5,865,645 | ||||
Liberty Latin America, Ltd. 2.00%, 7/15/2024
|
9,689,000 | 9,838,017 |
Security Description | Principal
Amount |
Value | ||||
Liberty Media Corp.: | ||||||
0.50%, 12/1/2050 (b)
|
$ 16,570,000 | $ 19,137,356 | ||||
1.38%, 10/15/2023
|
18,852,000 | 24,933,655 | ||||
2.13%, 3/31/2048 (a) (b)
|
6,468,000 | 6,770,056 | ||||
2.25%, 12/1/2048 (b)
|
10,033,000 | 13,434,287 | ||||
2.75%, 12/1/2049 (b)
|
15,390,000 | 16,145,033 | ||||
Liberty Media Corp.-Liberty Formula One 1.00%, 1/30/2023
|
9,942,000 | 13,505,710 | ||||
303,324,726 | ||||||
MINING — 0.2% | ||||||
MP Materials Corp. 0.25%, 4/1/2026 (b)
|
14,405,000 | 15,425,162 | ||||
MISCELLANEOUS MANUFACTURER — 0.1% | ||||||
John Bean Technologies Corp. 0.25%, 5/15/2026 (b)
|
7,950,000 | 8,440,117 | ||||
OIL & GAS — 0.9% | ||||||
EQT Corp. 1.75%, 5/1/2026 (a)
|
10,935,000 | 18,195,621 | ||||
Pioneer Natural Resources Co. 0.25%, 5/15/2025
|
27,284,000 | 43,519,890 | ||||
61,715,511 | ||||||
PHARMACEUTICALS — 2.7% | ||||||
Aphria, Inc. 5.25%, 6/1/2024 (b)
|
6,035,000 | 10,999,270 | ||||
Dexcom, Inc. 0.25%, 11/15/2025
|
26,320,000 | 27,603,363 | ||||
DexCom, Inc. 0.75%, 12/1/2023
|
17,180,000 | 44,709,404 | ||||
Herbalife Nutrition, Ltd. 2.63%, 3/15/2024
|
11,525,000 | 12,540,583 | ||||
Jazz Investments I, Ltd.: | ||||||
1.50%, 8/15/2024
|
10,563,000 | 11,612,645 | ||||
2.00%, 6/15/2026
|
21,160,000 | 28,168,192 | ||||
Neurocrine Biosciences, Inc. 2.25%, 5/15/2024 (a)
|
7,192,000 | 9,546,157 | ||||
Pacira BioSciences, Inc. 0.75%, 8/1/2025 (b)
|
7,155,000 | 7,814,333 | ||||
Sarepta Therapeutics, Inc. 1.50%, 11/15/2024
|
10,950,000 | 14,513,897 |
Security Description | Principal
Amount |
Value | ||||
Supernus Pharmaceuticals, Inc. 0.63%, 4/1/2023
|
$ 7,550,000 | $ 7,458,872 | ||||
Tilray, Inc. 5.00%, 10/1/2023
|
5,487,000 | 5,372,871 | ||||
180,339,587 | ||||||
PIPELINES — 0.2% | ||||||
Cheniere Energy, Inc. 4.25%, 3/15/2045 (a)
|
9,146,000 | 7,685,475 | ||||
Golar LNG, Ltd. 2.75%, 2/15/2022
|
7,335,000 | 7,275,587 | ||||
14,961,062 | ||||||
REAL ESTATE — 0.6% | ||||||
Realogy Group Co. 0.25%, 6/15/2026 (b)
|
9,065,000 | 9,315,738 | ||||
Redfin Corp.: | ||||||
Zero Coupon, 10/15/2025 (b)
|
13,420,000 | 15,157,219 | ||||
0.50%, 4/1/2027 (b)
|
11,895,000 | 11,759,754 | ||||
36,232,711 | ||||||
REAL ESTATE INVESTMENT TRUSTS — 0.4% | ||||||
Blackstone Mortgage Trust, Inc. 4.38%, 5/5/2022
|
8,095,000 | 8,238,201 | ||||
Pebblebrook Hotel Trust 1.75%, 12/15/2026
|
13,215,000 | 14,959,512 | ||||
23,197,713 | ||||||
RETAIL — 2.3% | ||||||
American Eagle Outfitters, Inc. 3.75%, 4/15/2025
|
8,195,000 | 35,746,426 | ||||
Burlington Stores, Inc. 2.25%, 4/15/2025
|
16,810,000 | 26,748,240 | ||||
Dick's Sporting Goods, Inc. 3.25%, 4/15/2025
|
11,930,000 | 35,280,708 | ||||
National Vision Holdings, Inc. 2.50%, 5/15/2025
|
8,765,000 | 15,459,444 | ||||
RH Zero Coupon, 9/15/2024
|
7,719,000 | 24,646,381 | ||||
Vroom, Inc. 0.75%, 7/1/2026 (b)
|
12,970,000 | 13,356,117 | ||||
151,237,316 |
Security Description | Principal
Amount |
Value | ||||
SEMICONDUCTORS — 2.6% | ||||||
Cree, Inc.: | ||||||
0.88%, 9/1/2023 (a)
|
$ 8,208,000 | $ 13,710,972 | ||||
1.75%, 5/1/2026
|
11,285,000 | 24,559,320 | ||||
MACOM Technology Solutions Holdings,
Inc. 0.25%, 3/15/2026 (b)
|
9,870,000 | 10,280,493 | ||||
Microchip Technology, Inc.: | ||||||
0.13%, 11/15/2024 (a)
|
17,265,000 | 19,387,214 | ||||
1.63%, 2/15/2027
|
6,714,000 | 14,883,729 | ||||
ON Semiconductor Corp. Zero Coupon, 5/1/2027 (b)
|
17,910,000 | 18,700,906 | ||||
Silicon Laboratories, Inc. 0.63%, 6/15/2025
|
11,854,000 | 16,460,820 | ||||
Synaptics, Inc. 0.50%, 6/15/2022
|
10,363,000 | 21,789,969 | ||||
Teradyne, Inc. 1.25%, 12/15/2023
|
7,994,000 | 33,800,710 | ||||
173,574,133 | ||||||
SOFTWARE — 15.9% | ||||||
8x8, Inc. 0.50%, 2/1/2024
|
10,920,000 | 13,578,256 | ||||
Akamai Technologies, Inc.: | ||||||
0.13%, 5/1/2025 (a)
|
23,176,000 | 30,358,706 | ||||
0.38%, 9/1/2027
|
24,735,000 | 28,656,982 | ||||
Alteryx, Inc.: | ||||||
0.50%, 8/1/2024
|
8,570,000 | 8,230,628 | ||||
1.00%, 8/1/2026 (a)
|
6,496,000 | 6,136,446 | ||||
Atlassian, Inc. 0.63%, 5/1/2023
|
10,430,000 | 32,737,580 | ||||
Avaya Holdings Corp. 2.25%, 6/15/2023
|
7,783,000 | 9,175,067 | ||||
Bandwidth, Inc. 0.25%, 3/1/2026
|
9,484,000 | 15,402,775 | ||||
Bentley Systems, Inc.: | ||||||
0.13%, 1/15/2026 (b)
|
13,910,000 | 16,621,337 | ||||
0.38%, 7/1/2027 (b)
|
12,900,000 | 13,220,565 | ||||
Bilibili, Inc.: | ||||||
1.25%, 6/15/2027
|
18,112,000 | 54,615,106 | ||||
1.38%, 4/1/2026
|
8,965,000 | 43,982,469 | ||||
Bill.com Holdings, Inc. Zero Coupon, 12/1/2025 (b)
|
25,235,000 | 33,675,098 |
Security Description | Principal
Amount |
Value | |||
Blackline, Inc.: | |||||
Zero Coupon, 3/15/2026 (b)
|
$ 24,340,000 | $ 23,407,291 | |||
0.13%, 8/1/2024
|
4,983,000 | 7,983,513 | |||
Ceridian HCM Holding, Inc. 0.25%, 3/15/2026 (b)
|
11,930,000 | 12,069,342 | |||
Cloudflare, Inc. 0.75%, 5/15/2025
|
12,049,000 | 34,274,224 | |||
Coupa Software, Inc.: | |||||
0.13%, 6/15/2025 (a)
|
17,318,000 | 29,959,621 | |||
0.38%, 6/15/2026
|
27,679,000 | 32,026,817 | |||
Datadog, Inc. 0.13%, 6/15/2025
|
15,671,000 | 21,044,899 | |||
DocuSign, Inc. Zero Coupon, 1/15/2024 (a) (b)
|
13,340,000 | 13,823,708 | |||
Dropbox, Inc.: | |||||
Zero Coupon, 3/1/2026 (b)
|
12,815,000 | 13,755,749 | |||
Zero Coupon, 3/1/2028 (b)
|
19,400,000 | 21,294,022 | |||
Envestnet, Inc. 0.75%, 8/15/2025 (b)
|
13,765,000 | 13,678,831 | |||
Everbridge, Inc.: | |||||
Zero Coupon, 3/15/2026 (b)
|
6,160,000 | 6,328,230 | |||
0.13%, 12/15/2024
|
11,097,000 | 15,200,449 | |||
Fastly, Inc. Zero Coupon, 3/15/2026 (b)
|
19,670,000 | 18,353,880 | |||
Five9, Inc. 0.50%, 6/1/2025 (b)
|
14,270,000 | 21,145,857 | |||
Guidewire Software, Inc. 1.25%, 3/15/2025
|
8,800,000 | 10,301,984 | |||
HubSpot, Inc. 0.38%, 6/1/2025
|
9,511,000 | 20,181,391 | |||
j2 Global, Inc.: | |||||
1.75%, 11/1/2026 (a) (b)
|
11,520,000 | 14,754,240 | |||
3.25%, 6/15/2029
|
7,979,000 | 16,140,480 | |||
LivePerson, Inc. Zero Coupon, 12/15/2026 (b)
|
10,735,000 | 11,489,778 | |||
Medallia, Inc. 0.13%, 9/15/2025 (b)
|
12,939,000 | 14,098,981 | |||
MicroStrategy, Inc.: | |||||
Zero Coupon, 2/15/2027 (a) (b)
|
21,360,000 | 15,946,308 | |||
0.75%, 12/15/2025 (a) (b)
|
13,760,000 | 24,512,614 | |||
MongoDB, Inc. 0.25%, 1/15/2026
|
22,671,000 | 40,947,907 |
Security Description | Principal
Amount |
Value | ||||
New Relic, Inc. 0.50%, 5/1/2023 (a)
|
$ 9,660,000 | $ 9,577,793 | ||||
Nuance Communications, Inc.: | ||||||
1.00%, 12/15/2035
|
6,569,000 | 14,779,856 | ||||
1.25%, 4/1/2025
|
365,000 | 1,014,306 | ||||
Nutanix, Inc. Zero Coupon, 1/15/2023 (a)
|
10,190,000 | 10,772,868 | ||||
Pegasystems, Inc. 0.75%, 3/1/2025
|
12,625,000 | 15,058,090 | ||||
Progress Software Corp. 1.00%, 4/15/2026 (b)
|
8,460,000 | 8,544,515 | ||||
RingCentral, Inc.: | ||||||
Zero Coupon, 3/1/2025
|
19,265,000 | 21,388,774 | ||||
Zero Coupon, 3/15/2026 (b)
|
14,605,000 | 14,813,852 | ||||
Sailpoint Technologies Holdings, Inc. 0.13%, 9/15/2024
|
7,883,000 | 14,750,275 | ||||
Slack Technologies, Inc. 0.50%, 4/15/2025
|
18,646,000 | 28,039,668 | ||||
Splunk, Inc.: | ||||||
0.50%, 9/15/2023
|
12,643,000 | 14,708,361 | ||||
1.13%, 9/15/2025 (a)
|
19,221,000 | 23,513,818 | ||||
1.13%, 6/15/2027
|
30,155,000 | 29,361,924 | ||||
Tyler Technologies, Inc. 0.25%, 3/15/2026 (b)
|
13,115,000 | 14,418,762 | ||||
Workday, Inc. 0.25%, 10/1/2022
|
23,151,000 | 38,109,556 | ||||
Zynga, Inc.: | ||||||
Zero Coupon, 12/15/2026 (b)
|
18,059,000 | 19,363,582 | ||||
0.25%, 6/1/2024
|
13,873,000 | 19,167,076 | ||||
1,056,494,207 | ||||||
TELECOMMUNICATIONS — 0.7% | ||||||
Infinera Corp. 2.13%, 9/1/2024
|
8,855,000 | 10,900,239 | ||||
InterDigital, Inc. 2.00%, 6/1/2024
|
7,628,000 | 8,435,119 | ||||
Nice, Ltd. Zero Coupon, 9/15/2025 (a) (b)
|
9,136,000 | 9,751,401 | ||||
Viavi Solutions, Inc. 1.00%, 3/1/2024 (a)
|
10,071,000 | 14,227,705 | ||||
43,314,464 |
Security Description | Principal
Amount |
Value | ||||
TRUCKING & LEASING — 0.1% | ||||||
Greenbrier Cos., Inc. 2.88%, 4/15/2028 (b)
|
$ 7,960,000 | $ 8,345,503 | ||||
TOTAL CORPORATE BONDS & NOTES (Cost
$4,376,144,738)
|
5,238,019,163 |
Shares | |||
CONVERTIBLE PREFERRED STOCKS — 20.8% | |||
AGRICULTURE — 0.2% | |||
Bunge, Ltd. 4.88%, 12/31/2049
|
137,555 | 15,988,018 | |
AUTO PARTS & EQUIPMENT — 0.6% | |||
Aptiv PLC Series A, 5.50%, 6/15/2023 (a)
|
228,110 | 40,790,630 | |
BANKS — 3.3% | |||
Bank of America Corp. Series L, 7.25%, 12/31/2049
|
63,628 | 90,097,248 | |
Wells Fargo & Co. Series L, 7.50%, 12/31/2049 (a)
|
82,099 | 125,300,315 | |
215,397,563 | |||
CHEMICALS — 0.3% | |||
International Flavors & Fragrances,
Inc. 6.00%, 9/15/2021
|
436,125 | 22,072,286 | |
DIVERSIFIED FINANCIAL SERVICES — 1.2% | |||
2020 Mandatory Exchangeable Trust 6.50%, 5/16/2023 (b)
|
14,665 | 26,472,085 | |
AMG Capital Trust II 5.15%, 10/15/2037
|
170,573 | 10,232,674 | |
KKR & Co., Inc. Series C, 6.00%, 9/15/2023 (a)
|
522,944 | 40,298,065 | |
77,002,824 | |||
ELECTRIC — 5.8% | |||
AES Corp. 6.88%, 2/15/2024
|
268,575 | 28,890,613 | |
Algonquin Power & Utilities Corp. 7.75%, 6/15/2024
|
488,055 | 24,235,786 | |
American Electric Power Co., Inc.: | |||
6.13%, 3/15/2022
|
309,380 | 15,199,839 |
Security Description | Shares | Value | |||
6.13%, 8/15/2023
|
405,820 | $ 20,794,217 | |||
CenterPoint Energy, Inc.: | |||||
4.57%, 9/15/2029 (c)
|
270,171 | 17,381,992 | |||
Series B, 7.00%, 9/1/2021
|
419,760 | 19,023,523 | |||
Dominion Energy, Inc. Series A, 7.25%, 6/1/2022
|
335,315 | 32,569,146 | |||
DTE Energy Co. 6.25%, 11/1/2022
|
520,605 | 25,733,505 | |||
NextEra Energy, Inc.: | |||||
4.87%, 9/1/2022 (d)
|
596,755 | 33,507,793 | |||
5.28%, 3/1/2023 (d)
|
1,022,135 | 50,043,730 | |||
6.22%, 9/1/2023 (d)
|
937,835 | 46,329,049 | |||
PG&E Corp. 5.50%, 8/16/2023
|
340,775 | 34,544,362 | |||
Southern Co. Series 2019, 6.75%, 8/1/2022
|
719,805 | 36,443,727 | |||
384,697,282 | |||||
ELECTRONICS — 0.2% | |||||
II-VI, Inc. Series A, 6.00%, 7/1/2023
|
45,205 | 13,613,486 | |||
ENGINEERING & CONSTRUCTION — 0.2% | |||||
Fluor Corp. 6.50%, 8/15/2051 (b)
|
11,425 | 12,120,782 | |||
ENVIRONMENTAL CONTROL — 0.3% | |||||
GFL Environmental, Inc. 6.00%, 3/15/2023 (a)
|
277,690 | 20,757,327 | |||
GAS — 0.3% | |||||
NiSource, Inc. 7.75%, 3/1/2024 (a)
|
179,825 | 18,484,212 | |||
HAND & MACHINE TOOLS — 0.3% | |||||
Stanley Black & Decker, Inc. 5.25%, 11/15/2022 (a)
|
183,100 | 22,105,663 | |||
HEALTH CARE PRODUCTS — 2.8% | |||||
Avantor, Inc. Series A, 6.25%, 5/15/2022 (a)
|
418,270 | 45,825,661 | |||
Boston Scientific Corp. Series A, 5.50%, 6/1/2023
|
195,725 | 22,715,844 |
Security Description | Shares | Value | ||||
Danaher Corp.: | ||||||
Series A, 4.75%, 4/15/2022
|
32,785 | $ 58,967,429 | ||||
Series B, 5.00%, 4/15/2023 (a)
|
36,760 | 54,230,925 | ||||
181,739,859 | ||||||
IRON/STEEL — 0.9% | ||||||
ArcelorMittal SA 5.50%, 5/18/2023 (a)
|
845,962 | 62,372,778 | ||||
MACHINERY-DIVERSIFIED — 0.2% | ||||||
Colfax Corp. 5.75%, 1/15/2022
|
72,725 | 13,541,395 | ||||
MEDIA — 0.2% | ||||||
ViacomCBS, Inc. Series A, 5.75%, 4/1/2024 (a)
|
198,705 | 14,730,002 | ||||
PHARMACEUTICALS — 0.8% | ||||||
Becton Dickinson and Co. Series B, 6.00%, 6/1/2023 (a)
|
713,000 | 38,152,630 | ||||
Elanco Animal Health, Inc. 5.00%, 2/1/2023
|
225,060 | 12,076,720 | ||||
50,229,350 | ||||||
SEMICONDUCTORS — 1.8% | ||||||
Broadcom, Inc. Series A, 8.00%, 9/30/2022
|
76,720 | 116,604,426 | ||||
SOFTWARE — 0.5% | ||||||
Clarivate PLC Series A, 5.25%, 6/1/2024
|
298,800 | 31,284,360 | ||||
TELECOMMUNICATIONS — 0.8% | ||||||
2020 Cash Mandatory Exchangeable Trust 5.25%, 6/1/2023 (b)
|
41,730 | 52,578,548 | ||||
WATER — 0.1% | ||||||
Essential Utilities, Inc. 6.00%, 4/30/2022
|
146,345 | 8,368,007 | ||||
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost
$1,190,801,672)
|
1,374,478,798 | |||||
SHORT-TERM INVESTMENTS — 5.8% | ||||||
State Street Institutional Liquid Reserves Fund,
Premier Class 0.05% (e) (f)
|
65,260,023 | 65,279,601 |
Security Description | Shares | Value | ||||
State Street Navigator Securities Lending
Portfolio II (g) (h)
|
320,117,599 | $ 320,117,599 | ||||
TOTAL SHORT-TERM INVESTMENTS (Cost
$385,397,200)
|
385,397,200 | |||||
TOTAL INVESTMENTS — 105.6% (Cost
$5,952,343,610)
|
6,997,895,161 | |||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (5.6)%
|
(369,509,455) | |||||
NET ASSETS — 100.0%
|
$ 6,628,385,706 |
(a) | All or a portion of the shares of the security are on loan at June 30, 2021. |
(b) | Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 29.5% of net assets as of June 30, 2021, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(c) | Step-up bond - Coupon rate increases in increments to maturity. Rate shown as of June 30, 2021. Maturity date shown is the final maturity. |
(d) | These securities are affiliated investments as a result of the Fund owning 5% or more of the entity’s outstanding shares. Amounts related to these transactions during the period ended June 30, 2021 are shown in the Affiliate Table below. |
(e) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended June 30, 2021 are shown in the Affiliate Table below. |
(f) | The rate shown is the annualized seven-day yield at June 30, 2021. |
(g) | The Fund invested in an affiliated entity. Amounts related to these transactions during the period ended June 30, 2021 are shown in the Affiliate Table below. |
(h) | Investment of cash collateral for securities loaned. |
Description | Level
1 – Quoted Prices |
Level
2 – Other Significant Observable Inputs |
Level
3 – Significant Unobservable Inputs |
Total | ||||
ASSETS: | ||||||||
INVESTMENTS: | ||||||||
Corporate Bonds & Notes
|
$ — | $5,238,019,163 | $— | $5,238,019,163 | ||||
Convertible Preferred Stocks
|
1,265,925,391 | 108,553,407 | — | 1,374,478,798 | ||||
Short-Term Investments
|
385,397,200 | — | — | 385,397,200 | ||||
TOTAL INVESTMENTS
|
$1,651,322,591 | $5,346,572,570 | $— | $6,997,895,161 |
Number
of Shares Held at 6/30/20 |
Value
at 6/30/20 |
Cost
of Purchases |
Proceeds
from Shares Sold |
Realized
Gain (Loss) |
Change
in Unrealized Appreciation/ Depreciation |
Number
of Shares Held at 6/30/21 |
Value
at 6/30/21 |
Dividend
Income | |||||||||
NextEra Energy, Inc.
|
— | $ — | $ 68,776,469 | $ 22,281,174 | $ (619,092) | $ 452,846 | 937,835 | $ 46,329,049 | $1,932,226 | ||||||||
NextEra Energy, Inc.
|
956,300 | 40,594,935 | 18,746,170 | 15,213,273 | 1,335,134 | 4,580,764 | 1,022,135 | 50,043,730 | 2,754,780 | ||||||||
NextEra Energy, Inc.
|
574,150 | 27,869,241 | 16,320,583 | 14,965,195 | 1,112,046 | 3,171,118 | 596,755 | 33,507,793 | 1,535,350 | ||||||||
State Street Institutional Liquid Reserves Fund,
Premier Class
|
25,651,670 | 25,661,930 | 767,485,383 | 727,867,777 | 65 | — | 65,260,023 | 65,279,601 | 11,612 | ||||||||
State Street Navigator Securities Lending
Portfolio II
|
233,003,345 | 233,003,345 | 2,301,910,627 | 2,214,796,373 | — | — | 320,117,599 | 320,117,599 | 1,101,263 | ||||||||
Total
|
$327,129,451 | $3,173,239,232 | $2,995,123,792 | $1,828,153 | $8,204,728 | $515,277,772 | $7,335,231 | ||||||||||
Security Description | Principal
Amount |
Value | ||||
CORPORATE BONDS & NOTES — 98.1% | ||||||
ADVERTISING — 0.7% | ||||||
Advantage Sales & Marketing, Inc. 6.50%, 11/15/2028 (a)
|
$ 8,650,000 | $ 9,144,866 | ||||
Clear Channel Outdoor Holdings, Inc.: | ||||||
7.50%, 6/1/2029 (a)
|
9,002,000 | 9,324,902 | ||||
7.75%, 4/15/2028 (a) (b)
|
9,191,000 | 9,627,113 | ||||
Lamar Media Corp.: | ||||||
3.63%, 1/15/2031 (a) (b)
|
4,612,000 | 4,510,121 | ||||
3.75%, 2/15/2028 (b)
|
3,451,000 | 3,510,599 | ||||
4.00%, 2/15/2030
|
4,719,000 | 4,786,293 | ||||
Outfront Media Capital LLC/Outfront Media Capital Corp.: | ||||||
4.25%, 1/15/2029 (a) (b)
|
3,884,000 | 3,905,051 | ||||
4.63%, 3/15/2030 (a)
|
4,042,000 | 4,097,496 | ||||
5.00%, 8/15/2027 (a)
|
5,424,000 | 5,620,132 | ||||
Terrier Media Buyer, Inc. 8.88%, 12/15/2027 (a)
|
9,012,000 | 9,731,969 | ||||
64,258,542 | ||||||
AEROSPACE & DEFENSE — 1.8% | ||||||
F-Brasile SpA/F-Brasile US LLC Series XR, 7.38%, 8/15/2026 (a)
|
4,759,000 | 4,892,490 | ||||
Howmet Aerospace, Inc. 6.88%, 5/1/2025
|
10,185,000 | 11,856,766 | ||||
Moog, Inc. 4.25%, 12/15/2027 (a)
|
4,660,000 | 4,824,545 | ||||
Rolls-Royce PLC 5.75%, 10/15/2027 (a)
|
6,754,000 | 7,412,380 | ||||
Spirit AeroSystems, Inc.: | ||||||
4.60%, 6/15/2028 (b)
|
5,305,000 | 5,212,958 | ||||
5.50%, 1/15/2025 (a)
|
5,468,000 | 5,815,655 | ||||
7.50%, 4/15/2025 (a)
|
11,494,000 | 12,291,224 | ||||
SSL Robotics LLC 9.75%, 12/31/2023 (a)
|
4,580,000 | 5,051,786 | ||||
TransDigm, Inc.: | ||||||
4.63%, 1/15/2029 (a)
|
10,475,000 | 10,507,263 | ||||
4.88%, 5/1/2029 (a) (b)
|
6,915,000 | 6,987,538 | ||||
5.50%, 11/15/2027
|
21,852,000 | 22,785,080 | ||||
6.25%, 3/15/2026 (a)
|
37,068,000 | 39,099,697 | ||||
6.38%, 6/15/2026
|
7,417,000 | 7,678,227 | ||||
7.50%, 3/15/2027
|
6,465,000 | 6,885,290 | ||||
8.00%, 12/15/2025 (a)
|
9,545,000 | 10,311,272 |
Security Description | Principal
Amount |
Value | ||||
Triumph Group, Inc.: | ||||||
6.25%, 9/15/2024 (a) (b)
|
$ 4,133,000 | $ 4,196,483 | ||||
8.88%, 6/1/2024 (a)
|
6,060,000 | 6,771,202 | ||||
172,579,856 | ||||||
AGRICULTURE — 0.2% | ||||||
Darling Ingredients, Inc. 5.25%, 4/15/2027 (a) (b)
|
3,797,000 | 3,985,065 | ||||
Vector Group, Ltd.: | ||||||
5.75%, 2/1/2029 (a)
|
6,675,000 | 6,808,767 | ||||
10.50%, 11/1/2026 (a)
|
4,738,000 | 5,032,230 | ||||
15,826,062 | ||||||
AIRLINES — 1.8% | ||||||
American Airlines Group, Inc.: | ||||||
3.75%, 3/1/2025 (a) (b)
|
5,086,000 | 4,684,918 | ||||
5.00%, 6/1/2022 (a) (b)
|
1,029,000 | 1,029,813 | ||||
American Airlines, Inc. 11.75%, 7/15/2025 (a)
|
21,026,000 | 26,383,635 | ||||
American Airlines, Inc./AAdvantage Loyalty IP, Ltd.: | ||||||
5.50%, 4/20/2026 (a)
|
28,818,000 | 30,594,341 | ||||
5.75%, 4/20/2029 (a)
|
24,955,400 | 26,987,269 | ||||
Delta Air Lines, Inc.: | ||||||
2.90%, 10/28/2024 (b)
|
7,642,000 | 7,778,104 | ||||
3.63%, 3/15/2022
|
203,000 | 205,822 | ||||
3.75%, 10/28/2029 (b)
|
4,874,000 | 4,869,906 | ||||
3.80%, 4/19/2023 (b)
|
3,770,000 | 3,911,563 | ||||
4.38%, 4/19/2028 (b)
|
3,610,000 | 3,788,334 | ||||
7.38%, 1/15/2026 (b)
|
11,683,000 | 13,711,870 | ||||
Hawaiian Brand Intellectual Property,
Ltd./HawaiianMiles Loyalty, Ltd. 5.75%, 1/20/2026 (a)
|
10,528,000 | 11,299,492 | ||||
Spirit Loyalty Cayman, Ltd./Spirit IP Cayman,
Ltd. 8.00%, 9/20/2025 (a)
|
5,296,359 | 6,002,575 | ||||
United Airlines, Inc.: | ||||||
4.38%, 4/15/2026 (a)
|
17,023,000 | 17,622,720 | ||||
4.63%, 4/15/2029 (a)
|
16,866,000 | 17,469,803 | ||||
176,340,165 | ||||||
APPAREL — 0.2% | ||||||
Hanesbrands, Inc. 5.38%, 5/15/2025 (a)
|
4,560,000 | 4,826,167 |
Security Description | Principal
Amount |
Value | ||||
Levi Strauss & Co. 3.50%, 3/1/2031 (a)
|
$ 4,433,000 | $ 4,418,194 | ||||
William Carter Co.: | ||||||
5.50%, 5/15/2025 (a)
|
3,936,000 | 4,161,375 | ||||
5.63%, 3/15/2027 (a)
|
5,758,000 | 6,055,977 | ||||
19,461,713 | ||||||
AUTO MANUFACTURERS — 2.8% | ||||||
Allison Transmission, Inc.: | ||||||
3.75%, 1/30/2031 (a)
|
8,354,000 | 8,197,279 | ||||
5.88%, 6/1/2029 (a)
|
4,598,000 | 5,051,501 | ||||
Aston Martin Capital Holdings, Ltd. PIK 10.50%, 11/30/2025 (a)
|
10,227,000 | 11,390,014 | ||||
Ford Motor Co.: | ||||||
4.35%, 12/8/2026 (b)
|
9,056,000 | 9,721,073 | ||||
8.50%, 4/21/2023
|
19,431,000 | 21,684,024 | ||||
9.00%, 4/22/2025
|
18,849,000 | 23,226,869 | ||||
9.63%, 4/22/2030
|
6,069,000 | 8,699,487 | ||||
Ford Motor Credit Co. LLC: | ||||||
2.90%, 2/16/2028
|
4,260,000 | 4,250,756 | ||||
2.98%, 8/3/2022
|
4,902,000 | 4,969,452 | ||||
3.09%, 1/9/2023
|
9,038,000 | 9,220,929 | ||||
3.35%, 11/1/2022
|
7,296,000 | 7,474,314 | ||||
3.37%, 11/17/2023 (b)
|
3,474,000 | 3,603,719 | ||||
3.38%, 11/13/2025
|
11,445,000 | 11,868,007 | ||||
3.63%, 6/17/2031
|
5,998,000 | 6,111,062 | ||||
3.81%, 1/9/2024
|
4,632,000 | 4,840,857 | ||||
3.82%, 11/2/2027
|
4,955,000 | 5,160,335 | ||||
4.00%, 11/13/2030 (b)
|
8,095,000 | 8,491,655 | ||||
4.06%, 11/1/2024
|
8,491,000 | 9,029,244 | ||||
4.13%, 8/17/2027
|
6,305,000 | 6,691,875 | ||||
4.14%, 2/15/2023
|
5,713,000 | 5,918,325 | ||||
4.27%, 1/9/2027
|
5,445,000 | 5,832,194 | ||||
4.54%, 8/1/2026
|
3,840,000 | 4,180,493 | ||||
4.69%, 6/9/2025
|
2,745,000 | 2,970,419 | ||||
5.11%, 5/3/2029
|
7,602,000 | 8,514,468 | ||||
5.13%, 6/16/2025
|
9,465,000 | 10,420,113 | ||||
5.58%, 3/18/2024
|
8,196,000 | 8,976,669 | ||||
Series MTN, 3.55%, 10/7/2022
|
2,414,000 | 2,475,678 | ||||
Jaguar Land Rover Automotive PLC: | ||||||
4.50%, 10/1/2027 (a) (b)
|
4,719,000 | 4,651,188 | ||||
5.88%, 1/15/2028 (a) (b)
|
6,714,000 | 7,061,852 |
Security Description | Principal
Amount |
Value | ||||
7.75%, 10/15/2025 (a)
|
$ 5,749,000 | $ 6,310,850 | ||||
JB Poindexter & Co., Inc. 7.13%, 4/15/2026 (a)
|
5,381,000 | 5,685,134 | ||||
Navistar International Corp.: | ||||||
6.63%, 11/1/2025 (a)
|
5,383,000 | 5,561,339 | ||||
9.50%, 5/1/2025 (a) (b)
|
4,762,000 | 5,101,293 | ||||
PM General Purchaser LLC 9.50%, 10/1/2028 (a)
|
5,314,000 | 5,597,396 | ||||
Tesla, Inc. 5.30%, 8/15/2025 (a)
|
12,787,000 | 13,210,122 | ||||
272,149,985 | ||||||
AUTO PARTS & EQUIPMENT — 1.1% | ||||||
Adient Global Holdings, Ltd. 4.88%, 8/15/2026 (a) (b)
|
6,543,060 | 6,731,042 | ||||
Adient US LLC 9.00%, 4/15/2025 (a)
|
5,092,000 | 5,603,440 | ||||
American Axle & Manufacturing, Inc. 6.25%, 4/1/2025 (b)
|
6,243,000 | 6,457,385 | ||||
Clarios Global L.P./Clarios US Finance Co.: | ||||||
6.25%, 5/15/2026 (a)
|
7,827,000 | 8,336,303 | ||||
8.50%, 5/15/2027 (a) (b)
|
15,295,000 | 16,672,621 | ||||
Dealer Tire LLC/DT Issuer LLC 8.00%, 2/1/2028 (a)
|
3,748,000 | 4,037,983 | ||||
Delphi Technologies PLC 5.00%, 10/1/2025 (a)
|
996,000 | 1,111,855 | ||||
Goodyear Tire & Rubber Co.: | ||||||
4.88%, 3/15/2027 (b)
|
6,285,000 | 6,666,311 | ||||
5.00%, 7/15/2029 (a)
|
7,157,000 | 7,479,781 | ||||
5.25%, 4/30/2031
|
6,060,000 | 6,351,910 | ||||
5.25%, 7/15/2031 (a) (b)
|
5,420,000 | 5,651,380 | ||||
9.50%, 5/31/2025
|
6,499,000 | 7,263,412 | ||||
IHO Verwaltungs GmbH PIK 4.75%, 9/15/2026 (a)
|
6,261,000 | 6,425,476 | ||||
Real Hero Merger Sub 2, Inc. 6.25%, 2/1/2029 (a)
|
5,202,000 | 5,395,254 | ||||
Tenneco, Inc.: | ||||||
5.13%, 4/15/2029 (a)
|
6,658,000 | 6,849,218 | ||||
7.88%, 1/15/2029 (a)
|
4,875,000 | 5,505,045 | ||||
106,538,416 |
Security Description | Principal
Amount |
Value | ||||
BANKS — 0.9% | ||||||
CIT Group, Inc.: | ||||||
4.75%, 2/16/2024
|
$ 3,575,000 | $ 3,874,835 | ||||
5.25%, 3/7/2025
|
3,481,000 | 3,917,657 | ||||
SOFR + 3.83%, 3.93%, 6/19/2024 (c)
|
2,570,000 | 2,710,502 | ||||
Deutsche Bank AG: | ||||||
5 Year USD ICE Swap + 2.55%, 4.88%, 12/1/2032
(c)
|
7,950,000 | 8,581,627 | ||||
SOFR + 2.76%, 3.73%, 1/14/2032 (c)
|
10,402,000 | 10,593,501 | ||||
SOFR + 5.44%, 5.88%, 7/8/2031 (c)
|
3,833,000 | 4,489,516 | ||||
Freedom Mortgage Corp.: | ||||||
6.63%, 1/15/2027 (a) (d)
|
6,013,000 | 6,051,904 | ||||
7.63%, 5/1/2026 (a)
|
5,844,000 | 6,077,702 | ||||
8.25%, 4/15/2025 (a)
|
6,174,400 | 6,444,530 | ||||
Intesa Sanpaolo SpA 4.20%, 6/1/2032 (a)
|
5,322,000 | 5,465,109 | ||||
UniCredit SpA: | ||||||
5 year CMT + 4.75%, 5.46%, 6/30/2035 (a)
(c)
|
11,198,000 | 12,219,481 | ||||
5 Year USD ICE Swap + 3.70%, 5.86%, 6/19/2032
(a) (c)
|
8,045,000 | 8,903,643 | ||||
5 Year USD ICE Swap + 4.91%, 7.30%, 4/2/2034
(a) (c)
|
9,875,000 | 11,856,715 | ||||
91,186,722 | ||||||
BEVERAGES — 0.1% | ||||||
Primo Water Holdings, Inc. 4.38%, 4/30/2029 (a)
|
6,389,000 | 6,390,278 | ||||
Triton Water Holdings, Inc. 6.25%, 4/1/2029 (a)
|
7,709,000 | 7,762,423 | ||||
14,152,701 | ||||||
BUILDING MATERIALS — 1.1% | ||||||
Builders FirstSource, Inc.: | ||||||
5.00%, 3/1/2030 (a)
|
4,605,000 | 4,835,342 | ||||
6.75%, 6/1/2027 (a)
|
6,541,000 | 7,021,829 | ||||
Cornerstone Building Brands, Inc. 6.13%, 1/15/2029 (a)
|
4,831,000 | 5,189,943 | ||||
CP Atlas Buyer, Inc. 7.00%, 12/1/2028 (a) (b)
|
5,099,000 | 5,283,686 | ||||
Forterra Finance LLC/FRTA Finance Corp. 6.50%, 7/15/2025 (a)
|
4,121,000 | 4,445,281 | ||||
Griffon Corp. 5.75%, 3/1/2028 (b)
|
8,545,500 | 9,072,586 | ||||
Koppers, Inc. 6.00%, 2/15/2025 (a)
|
3,217,000 | 3,315,086 |
Security Description | Principal
Amount |
Value | ||||
Masonite International Corp. 5.38%, 2/1/2028 (a)
|
$ 5,298,000 | $ 5,637,496 | ||||
SRM Escrow Issuer LLC 6.00%, 11/1/2028 (a)
|
10,034,000 | 10,634,134 | ||||
Standard Industries, Inc.: | ||||||
3.38%, 1/15/2031 (a)
|
8,809,000 | 8,428,011 | ||||
4.38%, 7/15/2030 (a) (b)
|
9,218,000 | 9,503,297 | ||||
4.75%, 1/15/2028 (a) (b)
|
8,585,000 | 8,983,001 | ||||
5.00%, 2/15/2027 (a)
|
8,979,000 | 9,310,415 | ||||
Summit Materials LLC/Summit Materials Finance
Corp. 5.25%, 1/15/2029 (a)
|
6,377,000 | 6,757,324 | ||||
Victors Merger Corp. 6.38%, 5/15/2029 (a)
|
5,658,000 | 5,702,585 | ||||
104,120,016 | ||||||
CHEMICALS — 1.7% | ||||||
Axalta Coating Systems LLC 3.38%, 2/15/2029 (a) (b)
|
5,711,000 | 5,582,503 | ||||
Axalta Coating Systems LLC/Axalta Coating Systems
Dutch Holding B B.V. 4.75%, 6/15/2027 (a)
|
4,011,000 | 4,205,132 | ||||
Chemours Co.: | ||||||
5.38%, 5/15/2027 (b)
|
3,795,000 | 4,113,818 | ||||
5.75%, 11/15/2028 (a) (b)
|
6,627,000 | 7,090,757 | ||||
Consolidated Energy Finance SA 6.88%, 6/15/2025 (a)
|
3,590,000 | 3,655,625 | ||||
CVR Partners L.P./CVR Nitrogen Finance
Corp. 6.13%, 6/15/2028 (a)
|
4,819,000 | 4,938,463 | ||||
Element Solutions, Inc. 3.88%, 9/1/2028 (a)
|
6,373,000 | 6,500,779 | ||||
INEOS Group Holdings SA 5.63%, 8/1/2024 (a)
|
4,129,000 | 4,143,369 | ||||
INEOS Quattro Finance 2 PLC 3.38%, 1/15/2026 (a)
|
4,951,000 | 5,001,005 | ||||
Ingevity Corp. 3.88%, 11/1/2028 (a)
|
4,484,000 | 4,474,584 | ||||
Methanex Corp.: | ||||||
5.13%, 10/15/2027
|
6,496,000 | 7,014,965 | ||||
5.25%, 12/15/2029 (b)
|
4,429,000 | 4,785,446 | ||||
Nouryon Holding B.V. 8.00%, 10/1/2026 (a) (b)
|
6,264,000 | 6,639,840 | ||||
OCI NV 5.25%, 11/1/2024 (a)
|
6,917,000 | 7,123,334 |
Security Description | Principal
Amount |
Value | ||||
Olin Corp.: | ||||||
5.00%, 2/1/2030 (b)
|
$ 2,593,000 | $ 2,764,657 | ||||
5.13%, 9/15/2027 (b)
|
4,013,000 | 4,191,458 | ||||
5.63%, 8/1/2029 (b)
|
5,739,000 | 6,321,853 | ||||
9.50%, 6/1/2025 (a)
|
5,900,000 | 7,351,046 | ||||
Rain CII Carbon LLC/CII Carbon Corp. 7.25%, 4/1/2025 (a)
|
4,401,000 | 4,543,680 | ||||
Rayonier AM Products, Inc. 7.63%, 1/15/2026 (a)
|
5,351,000 | 5,578,471 | ||||
SCIH Salt Holdings, Inc.: | ||||||
4.88%, 5/1/2028 (a)
|
9,950,000 | 9,988,805 | ||||
6.63%, 5/1/2029 (a) (b)
|
6,554,000 | 6,569,861 | ||||
SPCM SA 4.88%, 9/15/2025 (a)
|
2,827,000 | 2,893,717 | ||||
TPC Group, Inc. 10.50%, 8/1/2024 (a)
|
7,378,000 | 6,929,491 | ||||
Trinseo Materials Operating SCA/Trinseo Materials
Finance, Inc. 5.38%, 9/1/2025 (a)
|
3,707,000 | 3,792,854 | ||||
Tronox, Inc.: | ||||||
4.63%, 3/15/2029 (a)
|
8,904,000 | 9,003,636 | ||||
6.50%, 5/1/2025 (a)
|
5,053,000 | 5,362,294 | ||||
Valvoline, Inc.: | ||||||
3.63%, 6/15/2031 (a)
|
4,739,000 | 4,737,389 | ||||
4.25%, 2/15/2030 (a)
|
5,387,000 | 5,563,748 | ||||
WR Grace & Co-Conn 4.88%, 6/15/2027 (a)
|
6,202,000 | 6,573,500 | ||||
167,436,080 | ||||||
COAL — 0.1% | ||||||
Peabody Energy Corp. 6.38%, 3/31/2025 (a) (b)
|
3,958,000 | 2,915,542 | ||||
SunCoke Energy Partners L.P./SunCoke Energy
Partners Finance Corp. 7.50%, 6/15/2025 (a)
|
6,839,000 | 7,101,891 | ||||
SunCoke Energy, Inc. 4.88%, 6/30/2029 (a)
|
4,188,000 | 4,187,539 | ||||
14,204,972 | ||||||
COMMERCIAL SERVICES — 4.3% | ||||||
Adtalem Global Education, Inc. 5.50%, 3/1/2028 (a)
|
8,405,000 | 8,552,003 |
Security Description | Principal
Amount |
Value | |||
Algeco Global Finance PLC 8.00%, 2/15/2023 (a)
|
$ 3,415,000 | $ 3,522,094 | |||
Allied Universal Holdco LLC/Allied Universal Finance Corp.: | |||||
6.00%, 6/1/2029 (a) (b)
|
8,243,000 | 8,352,055 | |||
6.63%, 7/15/2026 (a)
|
16,006,000 | 16,971,482 | |||
9.75%, 7/15/2027 (a)
|
9,409,000 | 10,364,484 | |||
Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 S.a.r.l: | |||||
4.63%, 6/1/2028 (a)
|
7,209,000 | 7,227,167 | |||
4.63%, 6/1/2028 (a)
|
10,760,000 | 10,805,300 | |||
AMN Healthcare, Inc. 4.63%, 10/1/2027 (a)
|
3,481,000 | 3,615,123 | |||
APTIM Corp. 7.75%, 6/15/2025 (a)
|
3,561,000 | 3,122,356 | |||
APX Group, Inc. 6.75%, 2/15/2027 (a)
|
5,602,000 | 5,971,228 | |||
ASGN, Inc. 4.63%, 5/15/2028 (a)
|
5,201,000 | 5,444,407 | |||
Avis Budget Car Rental LLC/Avis Budget Finance, Inc.: | |||||
4.75%, 4/1/2028 (a)
|
4,506,000 | 4,618,290 | |||
5.38%, 3/1/2029 (a)
|
5,792,000 | 6,031,036 | |||
Brink's Co. 4.63%, 10/15/2027 (a) (b)
|
4,190,000 | 4,373,480 | |||
Cimpress PLC 7.00%, 6/15/2026 (a)
|
5,495,000 | 5,792,005 | |||
CoreLogic, Inc. 4.50%, 5/1/2028 (a)
|
5,515,000 | 5,468,674 | |||
Deluxe Corp. 8.00%, 6/1/2029 (a)
|
4,104,000 | 4,452,840 | |||
Garda World Security Corp.: | |||||
4.63%, 2/15/2027 (a)
|
6,727,000 | 6,753,101 | |||
6.00%, 6/1/2029 (a)
|
4,796,000 | 4,756,049 | |||
9.50%, 11/1/2027 (a)
|
5,362,000 | 5,944,206 | |||
Gartner, Inc.: | |||||
3.63%, 6/15/2029 (a)
|
5,311,000 | 5,395,923 | |||
3.75%, 10/1/2030 (a)
|
6,757,000 | 6,912,681 | |||
4.50%, 7/1/2028 (a) (b)
|
6,946,000 | 7,342,964 | |||
Herc Holdings, Inc. 5.50%, 7/15/2027 (a)
|
10,676,000 | 11,257,628 | |||
Jaguar Holding Co. II/PPD Development L.P.: | |||||
4.63%, 6/15/2025 (a)
|
4,037,000 | 4,245,551 | |||
5.00%, 6/15/2028 (a)
|
5,536,500 | 5,999,573 |
Security Description | Principal
Amount |
Value | |||
Metis Merger Sub LLC 6.50%, 5/15/2029 (a)
|
$ 6,954,000 | $ 6,846,769 | |||
MPH Acquisition Holdings LLC 5.75%, 11/1/2028 (a) (b)
|
9,781,000 | 9,827,069 | |||
NESCO Holdings II, Inc. 5.50%, 4/15/2029 (a)
|
9,760,000 | 10,184,853 | |||
Nielsen Co. Luxembourg SARL 5.00%, 2/1/2025 (a) (b)
|
3,754,000 | 3,860,914 | |||
Nielsen Finance LLC/Nielsen Finance Co.: | |||||
4.50%, 7/15/2029 (a)
|
5,411,000 | 5,422,634 | |||
4.75%, 7/15/2031 (a)
|
6,734,000 | 6,753,731 | |||
5.63%, 10/1/2028 (a)
|
8,231,000 | 8,694,652 | |||
5.88%, 10/1/2030 (a)
|
5,421,000 | 5,903,361 | |||
North Queensland Export Terminal Pty,
Ltd. 4.45%, 12/15/2022 (a)
|
3,223,000 | 3,101,525 | |||
Paysafe Finance PLC/Paysafe Holdings US
Corp. 4.00%, 6/15/2029 (a)
|
802,000 | 791,301 | |||
Prime Security Services Borrower LLC/Prime Finance, Inc.: | |||||
3.38%, 8/31/2027 (a)
|
8,060,000 | 7,819,006 | |||
5.25%, 4/15/2024 (a)
|
6,786,000 | 7,270,792 | |||
5.75%, 4/15/2026 (a)
|
11,841,000 | 13,098,514 | |||
6.25%, 1/15/2028 (a) (b)
|
10,236,000 | 10,908,096 | |||
Ritchie Bros Auctioneers, Inc. 5.38%, 1/15/2025 (a)
|
3,080,000 | 3,169,720 | |||
Sabre GLBL, Inc.: | |||||
7.38%, 9/1/2025 (a) (b)
|
7,313,000 | 7,949,377 | |||
9.25%, 4/15/2025 (a)
|
9,479,000 | 11,269,583 | |||
Service Corp. International: | |||||
3.38%, 8/15/2030
|
6,515,000 | 6,394,929 | |||
4.00%, 5/15/2031
|
8,298,000 | 8,461,885 | |||
4.63%, 12/15/2027
|
3,237,000 | 3,429,504 | |||
5.13%, 6/1/2029
|
6,425,000 | 6,975,622 | |||
Sotheby's 7.38%, 10/15/2027 (a) (b)
|
7,245,000 | 7,825,180 | |||
Square, Inc.: | |||||
2.75%, 6/1/2026 (a)
|
7,840,000 | 7,976,416 | |||
3.50%, 6/1/2031 (a)
|
8,236,000 | 8,309,053 | |||
Team Health Holdings, Inc. 6.38%, 2/1/2025 (a)
|
5,797,000 | 5,518,048 | |||
TriNet Group, Inc. 3.50%, 3/1/2029 (a)
|
4,794,000 | 4,731,822 |
Security Description | Principal
Amount |
Value | ||||
United Rentals North America, Inc.: | ||||||
3.88%, 2/15/2031
|
$ 8,599,000 | $ 8,754,384 | ||||
4.00%, 7/15/2030
|
6,621,000 | 6,813,870 | ||||
4.88%, 1/15/2028
|
14,245,000 | 15,117,934 | ||||
5.25%, 1/15/2030
|
6,333,000 | 6,938,245 | ||||
5.50%, 5/15/2027
|
8,194,000 | 8,679,904 | ||||
Verscend Escrow Corp. 9.75%, 8/15/2026 (a)
|
11,031,000 | 11,634,947 | ||||
WW International, Inc. 4.50%, 4/15/2029 (a) (b)
|
4,106,000 | 4,146,280 | ||||
417,871,620 | ||||||
COMPUTERS — 1.3% | ||||||
Banff Merger Sub, Inc. 9.75%, 9/1/2026 (a)
|
11,912,000 | 12,557,154 | ||||
Booz Allen Hamilton, Inc.: | ||||||
3.88%, 9/1/2028 (a)
|
5,330,000 | 5,434,894 | ||||
4.00%, 7/1/2029 (a)
|
4,167,000 | 4,261,258 | ||||
Crowdstrike Holdings, Inc. 3.00%, 2/15/2029 (b)
|
6,301,000 | 6,306,041 | ||||
Dell International LLC/EMC Corp. 7.13%, 6/15/2024 (a)
|
2,928,000 | 3,003,162 | ||||
Diebold Nixdorf, Inc. 9.38%, 7/15/2025 (a)
|
6,850,000 | 7,588,499 | ||||
Exela Intermediate LLC/Exela Finance,
Inc. 10.00%, 7/15/2023 (a)
|
3,630,000 | 2,377,650 | ||||
NCR Corp.: | ||||||
5.00%, 10/1/2028 (a)
|
5,975,000 | 6,174,804 | ||||
5.13%, 4/15/2029 (a)
|
12,199,000 | 12,586,196 | ||||
5.75%, 9/1/2027 (a)
|
4,484,000 | 4,725,822 | ||||
6.13%, 9/1/2029 (a) (b)
|
3,544,000 | 3,870,615 | ||||
Presidio Holdings, Inc. 4.88%, 2/1/2027 (a)
|
4,735,000 | 4,880,270 | ||||
Seagate HDD Cayman: | ||||||
3.13%, 7/15/2029 (a)
|
5,954,000 | 5,767,461 | ||||
3.38%, 7/15/2031 (a)
|
4,748,000 | 4,596,824 | ||||
4.09%, 6/1/2029 (a)
|
4,326,000 | 4,439,038 | ||||
4.13%, 1/15/2031 (a)
|
4,658,000 | 4,762,805 | ||||
4.88%, 3/1/2024 (b)
|
3,899,000 | 4,220,979 | ||||
Tempo Acquisition LLC/Tempo Acquisition Finance
Corp. 6.75%, 6/1/2025 (a)
|
11,150,000 | 11,338,212 | ||||
Vericast Corp. 8.38%, 8/15/2022 (a) (b)
|
1,542,400 | 1,564,981 |
Security Description | Principal
Amount |
Value | ||||
Western Digital Corp. 4.75%, 2/15/2026 (b)
|
$ 19,014,000 | $ 21,130,638 | ||||
131,587,303 | ||||||
COSMETICS/PERSONAL CARE — 0.3% | ||||||
Coty, Inc.: | ||||||
5.00%, 4/15/2026 (a)
|
8,033,000 | 8,149,398 | ||||
6.50%, 4/15/2026 (a) (b)
|
4,959,000 | 5,021,186 | ||||
Edgewell Personal Care Co.: | ||||||
4.13%, 4/1/2029 (a)
|
4,682,000 | 4,726,292 | ||||
5.50%, 6/1/2028 (a) (b)
|
6,330,000 | 6,714,168 | ||||
Oriflame Investment Holding PLC 5.13%, 5/4/2026 (a) (b)
|
2,344,000 | 2,408,483 | ||||
27,019,527 | ||||||
DISTRIBUTION & WHOLESALE — 0.8% | ||||||
American Builders & Contractors Supply Co.,
Inc. 4.00%, 1/15/2028 (a)
|
6,014,000 | 6,160,441 | ||||
Avient Corp. 5.75%, 5/15/2025 (a)
|
5,317,000 | 5,625,971 | ||||
BCPE Empire Holdings, Inc. 7.63%, 5/1/2027 (a)
|
6,244,000 | 6,392,420 | ||||
Core & Main L.P. 6.13%, 8/15/2025 (a)
|
6,669,000 | 6,802,380 | ||||
H&E Equipment Services Co. 3.88%, 12/15/2028 (a)
|
9,801,000 | 9,635,363 | ||||
IAA, Inc. 5.50%, 6/15/2027 (a)
|
5,598,000 | 5,874,653 | ||||
KAR Auction Services, Inc. 5.13%, 6/1/2025 (a)
|
7,899,000 | 8,103,821 | ||||
Performance Food Group, Inc. 5.50%, 10/15/2027 (a)
|
9,188,000 | 9,668,441 | ||||
Univar Solutions USA, Inc. 5.13%, 12/1/2027 (a)
|
4,185,000 | 4,399,230 | ||||
Wolverine Escrow LLC: | ||||||
8.50%, 11/15/2024 (a)
|
6,713,000 | 6,544,839 | ||||
9.00%, 11/15/2026 (a)
|
7,700,000 | 7,507,654 | ||||
REGS, 13.13%, 11/15/2027 (a)
|
4,577,000 | 3,858,686 | ||||
80,573,899 | ||||||
DIVERSIFIED FINANCIAL SERVICES — 2.8% | ||||||
AG Issuer LLC 6.25%, 3/1/2028 (a)
|
4,779,000 | 5,031,714 |
Security Description | Principal
Amount |
Value | |||
Curo Group Holdings Corp. 8.25%, 9/1/2025 (a)
|
$ 6,610,000 | $ 6,867,195 | |||
Enact Holdings, Inc. 6.50%, 8/15/2025 (a)
|
8,045,000 | 8,864,946 | |||
Global Aircraft Leasing Co., Ltd. 6.50%, 9/15/2024 (a)
|
15,023,156 | 15,066,723 | |||
goeasy, Ltd. 5.38%, 12/1/2024 (a)
|
4,491,000 | 4,650,431 | |||
Home Point Capital, Inc. 5.00%, 2/1/2026 (a)
|
5,669,000 | 5,287,306 | |||
LD Holdings Group LLC: | |||||
6.13%, 4/1/2028 (a)
|
4,597,000 | 4,590,656 | |||
6.50%, 11/1/2025 (a)
|
6,549,000 | 6,695,370 | |||
LPL Holdings, Inc. 4.00%, 3/15/2029 (a)
|
8,547,000 | 8,607,940 | |||
Midcap Financial Issuer Trust 6.50%, 5/1/2028 (a)
|
8,858,000 | 9,269,011 | |||
Nationstar Mortgage Holdings, Inc.: | |||||
5.13%, 12/15/2030 (a)
|
5,141,000 | 5,127,942 | |||
5.50%, 8/15/2028 (a)
|
8,298,000 | 8,363,803 | |||
6.00%, 1/15/2027 (a)
|
5,964,000 | 6,188,187 | |||
Navient Corp.: | |||||
4.88%, 3/15/2028
|
6,343,000 | 6,376,174 | |||
5.00%, 3/15/2027
|
3,627,000 | 3,761,054 | |||
6.75%, 6/25/2025
|
5,734,000 | 6,346,621 | |||
6.75%, 6/15/2026 (b)
|
4,845,000 | 5,407,165 | |||
7.25%, 9/25/2023
|
4,904,000 | 5,443,832 | |||
NFP Corp. 6.88%, 8/15/2028 (a)
|
14,105,000 | 14,902,779 | |||
OneMain Finance Corp.: | |||||
3.50%, 1/15/2027
|
6,432,000 | 6,487,508 | |||
4.00%, 9/15/2030 (b)
|
5,930,000 | 5,877,460 | |||
5.38%, 11/15/2029
|
4,937,000 | 5,378,516 | |||
5.63%, 3/15/2023
|
6,050,000 | 6,473,319 | |||
6.13%, 3/15/2024
|
11,813,000 | 12,716,340 | |||
6.63%, 1/15/2028
|
7,867,000 | 9,053,580 | |||
6.88%, 3/15/2025
|
10,444,000 | 11,785,845 | |||
7.13%, 3/15/2026
|
13,528,000 | 15,763,637 | |||
8.88%, 6/1/2025
|
4,883,000 | 5,411,194 | |||
PennyMac Financial Services, Inc.: | |||||
4.25%, 2/15/2029 (a)
|
6,038,000 | 5,817,734 | |||
5.38%, 10/15/2025 (a)
|
4,414,000 | 4,645,823 |
Security Description | Principal
Amount |
Value | ||||
Quicken Loans LLC 5.25%, 1/15/2028 (a)
|
$ 10,078,000 | $ 10,577,163 | ||||
Quicken Loans LLC/Quicken Loans Co-Issuer, Inc.: | ||||||
3.63%, 3/1/2029 (a) (b)
|
6,360,000 | 6,292,775 | ||||
3.88%, 3/1/2031 (a)
|
8,800,000 | 8,868,376 | ||||
SLM Corp. 4.20%, 10/29/2025
|
3,173,000 | 3,410,277 | ||||
United Wholesale Mortgage LLC: | ||||||
5.50%, 11/15/2025 (a) (b)
|
6,500,000 | 6,729,125 | ||||
5.50%, 4/15/2029 (a)
|
5,904,000 | 5,907,661 | ||||
VistaJet Malta Finance PLC/XO Management Holding,
Inc. 10.50%, 6/1/2024 (a)
|
4,969,000 | 5,414,868 | ||||
273,460,050 | ||||||
ELECTRIC — 2.4% | ||||||
Calpine Corp.: | ||||||
3.75%, 3/1/2031 (a)
|
8,622,000 | 8,212,541 | ||||
4.50%, 2/15/2028 (a)
|
10,452,500 | 10,659,146 | ||||
4.63%, 2/1/2029 (a)
|
5,730,000 | 5,661,068 | ||||
5.00%, 2/1/2031 (a)
|
7,612,000 | 7,570,971 | ||||
5.13%, 3/15/2028 (a)
|
12,933,500 | 13,148,584 | ||||
Clearway Energy Operating LLC: | ||||||
3.75%, 2/15/2031 (a)
|
7,840,000 | 7,774,066 | ||||
4.75%, 3/15/2028 (a)
|
7,687,000 | 8,064,585 | ||||
Drax Finco PLC 6.63%, 11/1/2025 (a)
|
3,769,000 | 3,897,787 | ||||
FirstEnergy Corp.: | ||||||
2.65%, 3/1/2030 (b)
|
5,075,000 | 5,047,088 | ||||
Series A, 3.35%, 7/15/2022
|
4,152,000 | 4,219,553 | ||||
Series B, 4.40%, 7/15/2027
|
12,512,000 | 13,632,074 | ||||
FirstEnergy Transmission LLC 2.87%, 9/15/2028 (a) (b)
|
3,497,000 | 3,616,458 | ||||
NextEra Energy Operating Partners L.P.: | ||||||
3.88%, 10/15/2026 (a)
|
2,591,000 | 2,738,221 | ||||
4.25%, 7/15/2024 (a)
|
5,947,000 | 6,271,230 | ||||
4.25%, 9/15/2024 (a)
|
204,000 | 215,952 | ||||
4.50%, 9/15/2027 (a)
|
4,381,000 | 4,746,989 | ||||
NRG Energy, Inc.: | ||||||
3.38%, 2/15/2029 (a) (b)
|
4,046,000 | 3,962,774 | ||||
3.63%, 2/15/2031 (a) (b)
|
8,248,000 | 8,100,113 | ||||
5.25%, 6/15/2029 (a)
|
6,696,000 | 7,129,767 | ||||
5.75%, 1/15/2028 (a)
|
840 | 896 |
Security Description | Principal
Amount |
Value | ||||
5.75%, 1/15/2028
|
$ 6,572,000 | $ 7,008,841 | ||||
6.63%, 1/15/2027
|
10,628,000 | 11,002,318 | ||||
7.25%, 5/15/2026
|
8,775,000 | 9,115,295 | ||||
Pattern Energy Operations L.P./Pattern Energy
Operations, Inc. 4.50%, 8/15/2028 (a)
|
6,728,000 | 6,964,220 | ||||
PG&E Corp.: | ||||||
5.00%, 7/1/2028 (b)
|
9,861,000 | 9,978,938 | ||||
5.25%, 7/1/2030 (b)
|
9,658,000 | 9,788,190 | ||||
Pike Corp. 5.50%, 9/1/2028 (a)
|
4,081,000 | 4,242,689 | ||||
Talen Energy Supply LLC: | ||||||
7.25%, 5/15/2027 (a) (b)
|
6,091,000 | 5,689,725 | ||||
10.50%, 1/15/2026 (a)
|
5,018,000 | 3,657,319 | ||||
Vistra Operations Co. LLC: | ||||||
4.38%, 5/1/2029 (a)
|
11,616,000 | 11,677,332 | ||||
5.00%, 7/31/2027 (a)
|
11,915,000 | 12,231,582 | ||||
5.50%, 9/1/2026 (a)
|
8,026,000 | 8,281,066 | ||||
5.63%, 2/15/2027 (a) (b)
|
11,858,000 | 12,322,596 | ||||
236,629,974 | ||||||
ELECTRICAL COMPONENTS & EQUIPMENT — 0.4% | ||||||
Energizer Holdings, Inc.: | ||||||
4.38%, 3/31/2029 (a)
|
5,536,000 | 5,543,972 | ||||
4.75%, 6/15/2028 (a)
|
5,236,000 | 5,382,556 | ||||
WESCO Distribution, Inc.: | ||||||
7.13%, 6/15/2025 (a)
|
12,183,000 | 13,167,265 | ||||
7.25%, 6/15/2028 (a)
|
12,056,000 | 13,425,320 | ||||
37,519,113 | ||||||
ELECTRONICS — 0.4% | ||||||
Imola Merger Corp. 4.75%, 5/15/2029 (a)
|
16,522,000 | 16,992,546 | ||||
Sensata Technologies B.V. 4.00%, 4/15/2029 (a)
|
8,351,000 | 8,482,027 | ||||
Sensata Technologies, Inc. 3.75%, 2/15/2031 (a) (b)
|
7,077,000 | 7,001,135 | ||||
TTM Technologies, Inc. 4.00%, 3/1/2029 (a) (b)
|
6,765,000 | 6,801,599 | ||||
39,277,307 |
Security Description | Principal
Amount |
Value | ||||
ENERGY-ALTERNATE SOURCES — 0.4% | ||||||
EnfraGen Energia Sur SA/EnfraGen Spain SA/Prime
Energia SpA 5.38%, 12/30/2030 (a)
|
$ 6,419,000 | $ 6,403,081 | ||||
Enviva Partners L.P./Enviva Partners Finance
Corp. 6.50%, 1/15/2026 (a)
|
6,113,000 | 6,388,879 | ||||
Renewable Energy Group, Inc. 5.88%, 6/1/2028 (a)
|
4,398,000 | 4,618,252 | ||||
TerraForm Power Operating LLC: | ||||||
4.25%, 1/31/2023 (a)
|
4,292,125 | 4,419,601 | ||||
4.75%, 1/15/2030 (a)
|
6,060,000 | 6,224,105 | ||||
5.00%, 1/31/2028 (a)
|
6,535,000 | 6,919,389 | ||||
34,973,307 | ||||||
ENGINEERING & CONSTRUCTION — 0.5% | ||||||
AECOM 5.13%, 3/15/2027
|
7,830,000 | 8,724,108 | ||||
Brand Industrial Services, Inc. 8.50%, 7/15/2025 (a)
|
7,951,000 | 8,105,886 | ||||
Dycom Industries, Inc. 4.50%, 4/15/2029 (a)
|
5,051,000 | 5,102,217 | ||||
Fluor Corp. 4.25%, 9/15/2028 (b)
|
4,908,000 | 4,986,577 | ||||
MasTec, Inc. 4.50%, 8/15/2028 (a)
|
3,846,000 | 4,052,030 | ||||
PowerTeam Services LLC 9.03%, 12/4/2025 (a)
|
8,165,000 | 8,981,663 | ||||
Signature Aviation US Holdings, Inc. 4.00%, 3/1/2028 (a)
|
500,000 | 503,270 | ||||
Tutor Perini Corp. 6.88%, 5/1/2025 (a) (b)
|
5,728,000 | 5,926,074 | ||||
46,381,825 | ||||||
ENTERTAINMENT — 3.1% | ||||||
Affinity Gaming 6.88%, 12/15/2027 (a)
|
6,216,000 | 6,609,038 | ||||
AMC Entertainment Holdings, Inc. 10.50%, 4/15/2025 (a) (b)
|
3,544,000 | 3,850,166 | ||||
AMC Entertainment Holdings, Inc. PIK 12.00%, 6/15/2026 (a)
|
434 | 444 | ||||
Bally's Corp. 6.75%, 6/1/2027 (a)
|
4,538,000 | 4,838,824 | ||||
Boyne USA, Inc. 4.75%, 5/15/2029 (a)
|
4,286,000 | 4,439,310 |
Security Description | Principal
Amount |
Value | |||
Caesars Entertainment, Inc.: | |||||
6.25%, 7/1/2025 (a)
|
$ 28,749,000 | $ 30,494,639 | |||
8.13%, 7/1/2027 (a)
|
15,129,000 | 16,836,005 | |||
Caesars Resort Collection LLC/CRC Finco,
Inc. 5.75%, 7/1/2025 (a)
|
8,457,000 | 8,911,564 | |||
Cedar Fair L.P./Canada's Wonderland Co./Magnum Management Corp./Millennium Op: | |||||
5.38%, 4/15/2027 (b)
|
4,141,000 | 4,275,375 | |||
5.50%, 5/1/2025 (a)
|
8,107,000 | 8,476,679 | |||
Churchill Downs, Inc.: | |||||
4.75%, 1/15/2028 (a)
|
6,562,000 | 6,791,145 | |||
5.50%, 4/1/2027 (a)
|
5,927,000 | 6,184,469 | |||
Cinemark USA, Inc. 5.25%, 7/15/2028 (a)
|
6,680,000 | 6,850,006 | |||
CRC Escrow Issuer LLC/CRC Finco, Inc. 5.25%, 10/15/2025 (a)
|
13,941,000 | 14,120,421 | |||
International Game Technology PLC: | |||||
4.13%, 4/15/2026 (a)
|
6,435,000 | 6,701,538 | |||
5.25%, 1/15/2029 (a)
|
5,734,000 | 6,149,371 | |||
6.25%, 1/15/2027 (a)
|
7,515,000 | 8,570,331 | |||
Lions Gate Capital Holdings LLC 5.50%, 4/15/2029 (a)
|
8,786,000 | 9,268,703 | |||
Live Nation Entertainment, Inc.: | |||||
3.75%, 1/15/2028 (a) (b)
|
6,582,000 | 6,614,383 | |||
4.75%, 10/15/2027 (a) (b)
|
7,809,000 | 8,091,920 | |||
4.88%, 11/1/2024 (a)
|
4,440,000 | 4,518,854 | |||
6.50%, 5/15/2027 (a)
|
10,458,000 | 11,605,870 | |||
Midwest Gaming Borrower LLC/Midwest Gaming
Finance Corp. 4.88%, 5/1/2029 (a)
|
6,682,000 | 6,693,426 | |||
Mohegan Gaming & Entertainment: | |||||
7.88%, 10/15/2024 (a) (b)
|
1,250,000 | 1,308,825 | |||
8.00%, 2/1/2026 (a)
|
9,913,000 | 10,355,417 | |||
Peninsula Pacific Entertainment LLC/Peninsula
Pacific Entertainment Finance In 8.50%, 11/15/2027 (a)
|
7,903,000 | 8,481,500 | |||
Scientific Games International, Inc.: | |||||
5.00%, 10/15/2025 (a)
|
10,582,000 | 10,923,799 | |||
7.00%, 5/15/2028 (a) (b)
|
4,340,000 | 4,741,320 | |||
7.25%, 11/15/2029 (a) (b)
|
4,158,000 | 4,690,141 | |||
8.25%, 3/15/2026 (a)
|
9,143,000 | 9,818,485 | |||
8.63%, 7/1/2025 (a)
|
4,767,000 | 5,217,148 |
Security Description | Principal
Amount |
Value | ||||
SeaWorld Parks & Entertainment,
Inc. 9.50%, 8/1/2025 (a) (b)
|
$ 4,670,000 | $ 5,025,574 | ||||
Six Flags Entertainment Corp. 5.50%, 4/15/2027 (a) (b)
|
3,638,000 | 3,772,242 | ||||
Six Flags Theme Parks, Inc. 7.00%, 7/1/2025 (a)
|
6,713,000 | 7,234,600 | ||||
Stars Group Holdings B.V./Stars Group US
Co-Borrower LLC 7.00%, 7/15/2026 (a)
|
8,216,000 | 8,521,307 | ||||
Vail Resorts, Inc. 6.25%, 5/15/2025 (a)
|
4,833,000 | 5,171,890 | ||||
WMG Acquisition Corp.: | ||||||
3.00%, 2/15/2031 (a) (b)
|
6,574,000 | 6,242,539 | ||||
3.88%, 7/15/2030 (a)
|
3,871,000 | 3,917,336 | ||||
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp.: | ||||||
7.75%, 4/15/2025 (a)
|
5,124,000 | 5,520,956 | ||||
REGS, 5.13%, 10/1/2029 (a)
|
7,693,000 | 8,141,502 | ||||
299,977,062 | ||||||
ENVIRONMENTAL CONTROL — 0.8% | ||||||
Clean Harbors, Inc. 4.88%, 7/15/2027 (a)
|
4,743,000 | 4,978,016 | ||||
GFL Environmental, Inc.: | ||||||
3.50%, 9/1/2028 (a) (b)
|
5,182,000 | 5,182,155 | ||||
3.75%, 8/1/2025 (a)
|
6,269,000 | 6,440,332 | ||||
4.00%, 8/1/2028 (a) (b)
|
4,053,000 | 4,005,499 | ||||
4.25%, 6/1/2025 (a) (b)
|
3,133,000 | 3,262,080 | ||||
4.75%, 6/15/2029 (a) (b)
|
7,162,000 | 7,441,891 | ||||
5.13%, 12/15/2026 (a)
|
4,455,000 | 4,712,499 | ||||
Harsco Corp. 5.75%, 7/31/2027 (a) (b)
|
4,192,000 | 4,407,553 | ||||
Madison IAQ LLC: | ||||||
4.13%, 6/30/2028 (a)
|
6,054,000 | 6,113,511 | ||||
5.88%, 6/30/2029 (a)
|
9,733,000 | 9,903,911 | ||||
Stericycle, Inc.: | ||||||
3.88%, 1/15/2029 (a)
|
3,650,000 | 3,659,453 | ||||
5.38%, 7/15/2024 (a)
|
5,076,000 | 5,215,844 | ||||
Tervita Corp. 11.00%, 12/1/2025 (a)
|
5,227,000 | 5,848,490 | ||||
Waste Pro USA, Inc. 5.50%, 2/15/2026 (a)
|
2,276,000 | 2,350,516 | ||||
73,521,750 |
Security Description | Principal
Amount |
Value | ||||
FOOD — 3.3% | ||||||
Albertsons Cos., Inc./Safeway, Inc./New Albertsons L.P./Albertsons LLC: | ||||||
3.25%, 3/15/2026 (a)
|
$ 4,248,000 | $ 4,325,186 | ||||
3.50%, 2/15/2023 (a)
|
6,220,000 | 6,392,916 | ||||
3.50%, 3/15/2029 (a)
|
10,984,000 | 10,853,510 | ||||
4.63%, 1/15/2027 (a)
|
11,248,000 | 11,759,896 | ||||
4.88%, 2/15/2030 (a)
|
7,815,000 | 8,334,541 | ||||
5.88%, 2/15/2028 (a)
|
6,845,000 | 7,374,940 | ||||
7.50%, 3/15/2026 (a)
|
6,746,000 | 7,398,608 | ||||
B&G Foods, Inc.: | ||||||
5.25%, 4/1/2025
|
7,835,000 | 8,055,634 | ||||
5.25%, 9/15/2027 (b)
|
5,081,018 | 5,294,065 | ||||
Chobani LLC/Chobani Finance Corp., Inc. 7.50%, 4/15/2025 (a)
|
4,476,000 | 4,656,383 | ||||
Del Monte Foods, Inc. 11.88%, 5/15/2025 (a)
|
5,533,000 | 6,310,387 | ||||
JBS Finance Luxembourg S.a.r.l 3.63%, 1/15/2032 (a)
|
7,086,000 | 8,071,318 | ||||
JBS USA Food Co.: | ||||||
5.75%, 1/15/2028 (a)
|
6,517,000 | 6,924,313 | ||||
7.00%, 1/15/2026 (a)
|
7,001,000 | 7,421,690 | ||||
JBS USA LUX SA/JBS USA Finance, Inc. 6.75%, 2/15/2028 (a)
|
7,029,000 | 7,723,114 | ||||
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc.: | ||||||
3.75%, 12/1/2031 (a)
|
4,257,000 | 4,344,226 | ||||
5.50%, 1/15/2030 (a)
|
9,650,000 | 10,716,132 | ||||
6.50%, 4/15/2029 (a)
|
11,813,000 | 13,319,984 | ||||
Kraft Heinz Foods Co.: | ||||||
3.75%, 4/1/2030
|
7,596,000 | 8,333,799 | ||||
3.88%, 5/15/2027
|
11,162,000 | 12,265,699 | ||||
3.95%, 7/15/2025
|
6,650,000 | 7,403,179 | ||||
4.25%, 3/1/2031
|
11,027,000 | 12,550,160 | ||||
4.63%, 1/30/2029
|
6,254,000 | 7,278,593 | ||||
5.00%, 7/15/2035
|
6,446,000 | 7,890,162 | ||||
Lamb Weston Holdings, Inc.: | ||||||
4.63%, 11/1/2024 (a)
|
5,663,000 | 5,857,354 | ||||
4.88%, 11/1/2026 (a)
|
7,499,600 | 7,752,636 | ||||
4.88%, 5/15/2028 (a)
|
3,777,000 | 4,180,157 | ||||
Pilgrim's Pride Corp.: | ||||||
4.25%, 4/15/2031 (a)
|
8,538,000 | 8,850,320 | ||||
5.88%, 9/30/2027 (a)
|
9,604,000 | 10,242,954 |
Security Description | Principal
Amount |
Value | ||||
Post Holdings, Inc.: | ||||||
4.50%, 9/15/2031 (a)
|
$ 14,730,000 | $ 14,702,308 | ||||
4.63%, 4/15/2030 (a)
|
12,502,000 | 12,723,660 | ||||
5.50%, 12/15/2029 (a) (b)
|
6,507,000 | 6,964,312 | ||||
5.63%, 1/15/2028 (a)
|
8,143,000 | 8,651,775 | ||||
5.75%, 3/1/2027 (a) (b)
|
11,984,000 | 12,550,604 | ||||
Simmons Foods, Inc./Simmons Prepared Foods,
Inc./Simmons Pet Food, Inc./Simmons Feed 4.63%, 3/1/2029 (a)
|
8,103,000 | 8,179,168 | ||||
TreeHouse Foods, Inc. 4.00%, 9/1/2028 (b)
|
4,246,000 | 4,215,853 | ||||
United Natural Foods, Inc. 6.75%, 10/15/2028 (a) (b)
|
4,039,000 | 4,344,348 | ||||
US Foods, Inc.: | ||||||
4.75%, 2/15/2029 (a)
|
7,100,000 | 7,241,645 | ||||
6.25%, 4/15/2025 (a)
|
8,343,000 | 8,852,006 | ||||
320,307,535 | ||||||
FOOD SERVICE — 0.3% | ||||||
Aramark Services, Inc.: | ||||||
5.00%, 4/1/2025 (a)
|
4,604,000 | 4,720,665 | ||||
5.00%, 2/1/2028 (a) (b)
|
9,664,000 | 10,103,519 | ||||
6.38%, 5/1/2025 (a)
|
12,722,000 | 13,514,199 | ||||
TKC Holdings, Inc. 10.50%, 5/15/2029 (a)
|
5,153,000 | 5,578,535 | ||||
33,916,918 | ||||||
FOREST PRODUCTS & PAPER — 0.1% | ||||||
Mercer International, Inc. 5.13%, 2/1/2029 (a)
|
8,084,000 | 8,314,071 | ||||
GAS — 0.1% | ||||||
AmeriGas Partners L.P./AmeriGas Finance Corp.: | ||||||
5.50%, 5/20/2025
|
5,106,000 | 5,619,562 | ||||
5.75%, 5/20/2027
|
4,624,000 | 5,167,597 | ||||
5.88%, 8/20/2026
|
1,159,000 | 1,297,732 | ||||
12,084,891 | ||||||
HEALTH CARE PRODUCTS — 0.3% | ||||||
Avantor Funding, Inc. 4.63%, 7/15/2028 (a)
|
12,657,000 | 13,357,691 | ||||
Hologic, Inc. 3.25%, 2/15/2029 (a)
|
7,182,000 | 7,143,074 |
Security Description | Principal
Amount |
Value | ||||
Teleflex, Inc.: | ||||||
4.25%, 6/1/2028 (a)
|
$ 3,334,000 | $ 3,475,928 | ||||
4.63%, 11/15/2027 (b)
|
2,794,000 | 2,975,750 | ||||
26,952,443 | ||||||
HEALTH CARE SERVICES — 6.5% | ||||||
Air Methods Corp. 8.00%, 5/15/2025 (a)
|
5,286,000 | 4,995,376 | ||||
Catalent Pharma Solutions, Inc.: | ||||||
3.13%, 2/15/2029 (a)
|
4,584,000 | 4,442,859 | ||||
5.00%, 7/15/2027 (a)
|
3,279,000 | 3,427,637 | ||||
Centene Corp.: | ||||||
2.45%, 7/15/2028 (d)
|
15,058,000 | 15,256,163 | ||||
2.50%, 3/1/2031
|
19,273,000 | 19,026,498 | ||||
3.00%, 10/15/2030
|
18,576,000 | 19,091,112 | ||||
3.38%, 2/15/2030
|
15,732,000 | 16,441,985 | ||||
4.25%, 12/15/2027
|
21,044,000 | 22,199,947 | ||||
4.63%, 12/15/2029
|
29,387,000 | 32,349,797 | ||||
5.38%, 6/1/2026 (a)
|
13,377,000 | 13,978,697 | ||||
5.38%, 8/15/2026 (a)
|
8,135,000 | 8,501,889 | ||||
Charles River Laboratories International, Inc.: | ||||||
3.75%, 3/15/2029 (a)
|
5,493,000 | 5,565,672 | ||||
4.00%, 3/15/2031 (a)
|
4,144,000 | 4,305,699 | ||||
4.25%, 5/1/2028 (a)
|
4,653,000 | 4,818,554 | ||||
CHS/Community Health Systems, Inc.: | ||||||
4.75%, 2/15/2031 (a) (b)
|
10,608,000 | 10,646,295 | ||||
5.63%, 3/15/2027 (a) (b)
|
16,294,000 | 17,387,653 | ||||
6.00%, 1/15/2029 (a) (b)
|
7,327,000 | 7,842,454 | ||||
6.13%, 4/1/2030 (a)
|
14,105,000 | 14,316,293 | ||||
6.63%, 2/15/2025 (a)
|
12,423,000 | 13,130,614 | ||||
6.88%, 4/1/2028 (a) (b)
|
7,153,000 | 7,075,104 | ||||
6.88%, 4/15/2029 (a) (b)
|
14,983,000 | 15,733,498 | ||||
8.00%, 3/15/2026 (a)
|
16,119,000 | 17,369,996 | ||||
8.00%, 12/15/2027 (a) (b)
|
3,097,000 | 3,443,678 | ||||
DaVita, Inc.: | ||||||
3.75%, 2/15/2031 (a)
|
12,528,000 | 12,028,383 | ||||
4.63%, 6/1/2030 (a)
|
22,911,000 | 23,574,961 | ||||
Encompass Health Corp.: | ||||||
4.50%, 2/1/2028
|
7,052,000 | 7,316,450 | ||||
4.75%, 2/1/2030
|
6,501,000 | 6,915,309 | ||||
Envision Helthcare Corp. 8.75%, 10/15/2026 (a)
|
8,687,000 | 6,057,793 |
Security Description | Principal
Amount |
Value | |||
Global Medical Response, Inc. 6.50%, 10/1/2025 (a)
|
$ 5,353,000 | $ 5,501,920 | |||
HCA, Inc.: | |||||
3.50%, 9/1/2030
|
21,181,000 | 22,551,199 | |||
5.38%, 9/1/2026
|
9,327,500 | 10,738,937 | |||
5.63%, 9/1/2028
|
13,205,500 | 15,663,044 | |||
5.88%, 2/15/2026
|
28,000 | 32,400 | |||
5.88%, 2/1/2029
|
8,528,000 | 10,301,653 | |||
Indigo Merger Sub, Inc. 2.88%, 7/15/2026 (a) (d)
|
4,026,000 | 4,089,691 | |||
IQVIA, Inc.: | |||||
5.00%, 10/15/2026 (a)
|
8,673,000 | 8,973,953 | |||
5.00%, 5/15/2027 (a)
|
9,052,000 | 9,478,259 | |||
Legacy LifePoint Health LLC: | |||||
4.38%, 2/15/2027 (a)
|
5,158,000 | 5,220,773 | |||
6.75%, 4/15/2025 (a)
|
4,537,000 | 4,832,495 | |||
Lifepoint Health, Inc. 5.38%, 1/15/2029 (a)
|
4,160,000 | 4,049,510 | |||
MEDNAX, Inc. 6.25%, 1/15/2027 (a)
|
8,840,000 | 9,361,914 | |||
ModivCare, Inc. 5.88%, 11/15/2025 (a)
|
4,127,000 | 4,415,766 | |||
Molina Healthcare, Inc.: | |||||
3.88%, 11/15/2030 (a)
|
3,789,000 | 3,943,705 | |||
4.38%, 6/15/2028 (a)
|
5,133,000 | 5,361,573 | |||
Prime Healthcare Services, Inc. 7.25%, 11/1/2025 (a)
|
8,112,000 | 8,785,864 | |||
Radiology Partners, Inc. 9.25%, 2/1/2028 (a)
|
3,647,000 | 4,041,861 | |||
RegionalCare Hospital Partners Holdings,
Inc./LifePoint Health, Inc. 9.75%, 12/1/2026 (a)
|
11,483,000 | 12,368,569 | |||
RP Escrow Issuer LLC 5.25%, 12/15/2025 (a)
|
6,660,000 | 6,956,636 | |||
Select Medical Corp. 6.25%, 8/15/2026 (a)
|
10,475,000 | 11,158,494 | |||
Surgery Center Holdings, Inc. 10.00%, 4/15/2027 (a) (b)
|
4,667,000 | 5,125,673 | |||
Syneos Health, Inc. 3.63%, 1/15/2029 (a)
|
5,369,000 | 5,312,894 | |||
Tenet Healthcare Corp.: | |||||
4.25%, 6/1/2029 (a)
|
11,879,000 | 12,043,287 | |||
4.63%, 7/15/2024
|
15,648,000 | 15,877,243 |
Security Description | Principal
Amount |
Value | ||||
4.63%, 9/1/2024 (a)
|
$ 5,639,000 | $ 5,786,967 | ||||
4.63%, 6/15/2028 (a)
|
5,382,000 | 5,536,302 | ||||
4.88%, 1/1/2026 (a)
|
17,399,000 | 18,022,928 | ||||
5.13%, 11/1/2027 (a)
|
13,303,000 | 13,940,613 | ||||
6.13%, 10/1/2028 (a)
|
21,145,000 | 22,499,549 | ||||
6.25%, 2/1/2027 (a)
|
14,536,000 | 15,189,539 | ||||
7.50%, 4/1/2025 (a) (b)
|
6,695,000 | 7,222,968 | ||||
US Renal Care, Inc. 10.63%, 7/15/2027 (a)
|
4,605,929 | 4,827,474 | ||||
636,454,019 | ||||||
HOME BUILDERS — 0.5% | ||||||
Brookfield Residential Properties, Inc./Brookfield Residential US Corp.: | ||||||
4.88%, 2/15/2030 (a)
|
5,948,000 | 5,902,319 | ||||
6.25%, 9/15/2027 (a)
|
4,184,000 | 4,430,145 | ||||
Century Communities, Inc. 6.75%, 6/1/2027
|
4,986,000 | 5,288,949 | ||||
Mattamy Group Corp.: | ||||||
4.63%, 3/1/2030 (a)
|
4,917,000 | 5,032,107 | ||||
5.25%, 12/15/2027 (a)
|
4,507,000 | 4,725,950 | ||||
Picasso Finance Sub, Inc. 6.13%, 6/15/2025 (a)
|
4,437,000 | 4,697,629 | ||||
Taylor Morrison Communities, Inc.: | ||||||
5.13%, 8/1/2030 (a) (b)
|
4,741,000 | 5,137,348 | ||||
5.88%, 6/15/2027 (a)
|
4,301,000 | 4,875,054 | ||||
Williams Scotsman International, Inc. 4.63%, 8/15/2028 (a) (b)
|
4,306,000 | 4,446,333 | ||||
44,535,834 | ||||||
HOME FURNISHINGS — 0.1% | ||||||
Tempur Sealy International, Inc. 4.00%, 4/15/2029 (a)
|
6,637,000 | 6,749,497 | ||||
WASH Multifamily Acquisition, Inc. 5.75%, 4/15/2026 (a)
|
7,579,000 | 7,914,598 | ||||
14,664,095 | ||||||
HOUSEHOLD PRODUCTS & WARES — 0.2% | ||||||
ACCO Brands Corp. 4.25%, 3/15/2029 (a) (b)
|
5,969,000 | 5,910,921 | ||||
Central Garden & Pet Co. 4.13%, 10/15/2030
|
4,139,000 | 4,228,651 |
Security Description | Principal
Amount |
Value | ||||
Kronos Acquisition Holdings, Inc./KIK Custom
Products, Inc. 7.00%, 12/31/2027 (a) (b)
|
$ 5,247,000 | $ 5,264,368 | ||||
Spectrum Brands, Inc. 3.88%, 3/15/2031 (a)
|
4,395,000 | 4,317,472 | ||||
19,721,412 | ||||||
HOUSEWARES — 0.2% | ||||||
CD&R Smokey Buyer, Inc. 6.75%, 7/15/2025 (a)
|
5,986,000 | 6,413,340 | ||||
Newell Brands, Inc. 4.88%, 6/1/2025
|
5,418,000 | 6,003,090 | ||||
Scotts Miracle-Gro Co. 4.00%, 4/1/2031 (a)
|
4,296,000 | 4,288,697 | ||||
16,705,127 | ||||||
INSURANCE — 0.8% | ||||||
Acrisure LLC/Acrisure Finance, Inc.: | ||||||
4.25%, 2/15/2029 (a)
|
5,877,000 | 5,801,187 | ||||
7.00%, 11/15/2025 (a)
|
8,704,000 | 8,900,275 | ||||
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer: | ||||||
4.25%, 10/15/2027 (a)
|
4,162,000 | 4,223,431 | ||||
6.75%, 10/15/2027 (a)
|
11,201,000 | 11,777,067 | ||||
AmWINS Group, Inc. 7.75%, 7/1/2026 (a)
|
5,801,000 | 6,155,151 | ||||
AssuredPartners, Inc.: | ||||||
5.63%, 1/15/2029 (a)
|
4,815,000 | 4,824,823 | ||||
7.00%, 8/15/2025 (a)
|
4,239,000 | 4,327,807 | ||||
Global Atlantic Fin Co. 5 year CMT + 3.80%, 4.70%, 10/15/2051
(a) (c) (d)
|
4,360,000 | 4,364,796 | ||||
HUB International, Ltd. 7.00%, 5/1/2026 (a)
|
10,636,000 | 11,028,043 | ||||
MGIC Investment Corp. 5.25%, 8/15/2028
|
4,569,000 | 4,844,282 | ||||
Radian Group, Inc. 6.63%, 3/15/2025
|
3,137,000 | 3,544,559 | ||||
USI, Inc. 6.88%, 5/1/2025 (a)
|
3,963,000 | 4,035,999 | ||||
73,827,420 | ||||||
INTERNET — 2.1% | ||||||
ANGI Group LLC 3.88%, 8/15/2028 (a)
|
4,226,000 | 4,208,927 |
Security Description | Principal
Amount |
Value | |||
Arches Buyer, Inc.: | |||||
4.25%, 6/1/2028 (a)
|
$ 5,322,000 | $ 5,291,239 | |||
6.13%, 12/1/2028 (a) (b)
|
5,017,000 | 5,185,872 | |||
Cogent Communications Group, Inc. 3.50%, 5/1/2026 (a)
|
4,666,000 | 4,775,791 | |||
Endure Digital, Inc. 6.00%, 2/15/2029 (a)
|
4,540,000 | 4,495,145 | |||
Go Daddy Operating Co. LLC/GD Finance Co., Inc.: | |||||
3.50%, 3/1/2029 (a)
|
5,144,000 | 5,118,589 | |||
5.25%, 12/1/2027 (a)
|
5,238,000 | 5,507,495 | |||
GrubHub Holdings, Inc. 5.50%, 7/1/2027 (a) (b)
|
4,416,000 | 4,655,038 | |||
Match Group Holdings II LLC: | |||||
4.13%, 8/1/2030 (a)
|
3,917,000 | 3,983,393 | |||
4.63%, 6/1/2028 (a)
|
3,736,000 | 3,880,994 | |||
Netflix, Inc.: | |||||
3.63%, 6/15/2025 (a)
|
3,570,000 | 3,843,998 | |||
4.38%, 11/15/2026 (b)
|
6,692,000 | 7,606,328 | |||
4.88%, 4/15/2028
|
13,492,000 | 15,681,347 | |||
4.88%, 6/15/2030 (a)
|
8,162,000 | 9,704,047 | |||
5.38%, 11/15/2029 (a)
|
7,839,000 | 9,523,052 | |||
5.88%, 11/15/2028
|
16,861,000 | 20,713,064 | |||
6.38%, 5/15/2029
|
5,846,000 | 7,453,942 | |||
NortonLifeLock, Inc. 5.00%, 4/15/2025 (a)
|
8,481,000 | 8,588,709 | |||
Photo Holdings Merger Sub, Inc. 8.50%, 10/1/2026 (a)
|
6,280,000 | 6,890,353 | |||
Rakuten Group, Inc.: | |||||
5 year CMT + 4.56%, 5.13%, 4/22/2026 (a)
(c)
|
5,501,000 | 5,711,138 | |||
5 year CMT + 4.97%, 6.25%, 4/22/2031
(a) (b) (c)
|
8,728,000 | 9,436,365 | |||
TripAdvisor, Inc. 7.00%, 7/15/2025 (a) (b)
|
4,446,000 | 4,790,698 | |||
Twitter, Inc. 3.88%, 12/15/2027 (a) (b)
|
5,126,000 | 5,445,299 | |||
Uber Technologies, Inc.: | |||||
6.25%, 1/15/2028 (a) (b)
|
4,238,000 | 4,564,708 | |||
7.50%, 5/15/2025 (a)
|
8,379,000 | 9,041,192 | |||
7.50%, 9/15/2027 (a)
|
11,247,000 | 12,357,866 | |||
8.00%, 11/1/2026 (a)
|
12,675,000 | 13,660,481 | |||
Zayo Group LLC/Zayo Capital, Inc. 5.75%, 1/15/2027 (a)
|
1,000 | 1,028 | |||
202,116,098 |
Security Description | Principal
Amount |
Value | ||||
INVESTMENT COMPANY SECURITY — 0.5% | ||||||
Compass Group Diversified Holdings LLC 5.25%, 4/15/2029 (a)
|
$ 8,729,000 | $ 9,086,889 | ||||
Icahn Enterprises L.P./Icahn Enterprises Finance Corp.: | ||||||
4.38%, 2/1/2029 (a)
|
6,071,000 | 6,057,158 | ||||
4.75%, 9/15/2024
|
9,731,000 | 10,179,891 | ||||
5.25%, 5/15/2027
|
8,882,000 | 9,193,936 | ||||
6.25%, 5/15/2026 (b)
|
8,949,000 | 9,493,636 | ||||
6.38%, 12/15/2025
|
7,573,000 | 7,825,181 | ||||
51,836,691 | ||||||
IRON/STEEL — 0.8% | ||||||
ArcelorMittal SA: | ||||||
3.60%, 7/16/2024
|
3,401,000 | 3,647,301 | ||||
4.25%, 7/16/2029 (b)
|
3,493,000 | 3,860,324 | ||||
4.55%, 3/11/2026
|
1,990,000 | 2,253,158 | ||||
Baffinland Iron Mines Corp./Baffinland Iron Mines
L.P. 8.75%, 7/15/2026 (a)
|
5,402,000 | 5,726,444 | ||||
Big River Steel LLC/BRS Finance Corp. 6.63%, 1/31/2029 (a)
|
6,043,000 | 6,673,345 | ||||
Cleveland-Cliffs, Inc.: | ||||||
4.63%, 3/1/2029 (a) (b)
|
3,960,000 | 4,165,088 | ||||
4.88%, 3/1/2031 (a) (b)
|
4,253,000 | 4,468,415 | ||||
5.88%, 6/1/2027 (b)
|
4,240,000 | 4,460,480 | ||||
6.75%, 3/15/2026 (a)
|
7,545,000 | 8,131,322 | ||||
9.88%, 10/17/2025 (a)
|
6,194,000 | 7,245,184 | ||||
Mineral Resources, Ltd. 8.13%, 5/1/2027 (a)
|
5,708,000 | 6,291,928 | ||||
United States Steel Corp.: | ||||||
6.25%, 3/15/2026 (b)
|
5,400,000 | 5,561,352 | ||||
6.88%, 8/15/2025 (b)
|
5,273,000 | 5,393,435 | ||||
6.88%, 3/1/2029 (b)
|
7,282,000 | 7,799,386 | ||||
75,677,162 | ||||||
LEISURE TIME — 2.5% | ||||||
Carnival Corp.: | ||||||
5.75%, 3/1/2027 (a)
|
30,131,000 | 31,695,401 | ||||
7.63%, 3/1/2026 (a)
|
12,649,000 | 13,782,477 | ||||
9.88%, 8/1/2027 (a) (b)
|
10,180,000 | 11,885,252 | ||||
10.50%, 2/1/2026 (a)
|
6,879,000 | 8,024,216 | ||||
11.50%, 4/1/2023 (a)
|
33,658,000 | 38,004,931 | ||||
Life Time, Inc. 5.75%, 1/15/2026 (a)
|
8,403,000 | 8,707,021 |
Security Description | Principal
Amount |
Value | ||||
MajorDrive Holdings IV LLC 6.38%, 6/1/2029 (a)
|
$ 5,143,000 | $ 5,130,142 | ||||
NCL Corp., Ltd.: | ||||||
3.63%, 12/15/2024 (a)
|
4,823,000 | 4,655,063 | ||||
5.88%, 3/15/2026 (a)
|
10,695,000 | 11,203,226 | ||||
10.25%, 2/1/2026 (a)
|
8,714,000 | 10,196,949 | ||||
12.25%, 5/15/2024 (a)
|
5,310,000 | 6,410,816 | ||||
NCL Finance, Ltd. 6.13%, 3/15/2028 (a) (b)
|
4,660,000 | 4,884,286 | ||||
Royal Caribbean Cruises, Ltd.: | ||||||
3.70%, 3/15/2028 (b)
|
3,544,000 | 3,394,550 | ||||
4.25%, 7/1/2026 (a)
|
5,634,000 | 5,626,957 | ||||
5.50%, 4/1/2028 (a)
|
12,817,000 | 13,446,571 | ||||
9.13%, 6/15/2023 (a)
|
8,565,000 | 9,401,972 | ||||
10.88%, 6/1/2023 (a)
|
8,737,000 | 9,961,491 | ||||
11.50%, 6/1/2025 (a)
|
19,179,000 | 22,126,812 | ||||
Viking Cruises, Ltd.: | ||||||
5.88%, 9/15/2027 (a)
|
7,132,000 | 7,045,845 | ||||
13.00%, 5/15/2025 (a)
|
4,835,000 | 5,686,153 | ||||
Vista Outdoor, Inc. 4.50%, 3/15/2029 (a)
|
4,280,000 | 4,354,558 | ||||
VOC Escrow, Ltd. 5.00%, 2/15/2028 (a)
|
7,374,000 | 7,470,157 | ||||
243,094,846 | ||||||
LODGING — 3.0% | ||||||
Boyd Gaming Corp.: | ||||||
4.75%, 12/1/2027
|
8,634,000 | 8,935,240 | ||||
4.75%, 6/15/2031 (a)
|
8,030,000 | 8,348,309 | ||||
8.63%, 6/1/2025 (a)
|
4,502,000 | 4,958,323 | ||||
Diamond Resorts International, Inc.: | ||||||
7.75%, 9/1/2023 (a)
|
4,637,000 | 4,773,884 | ||||
10.75%, 9/1/2024 (a)
|
1,753,000 | 1,824,172 | ||||
Hilton Domestic Operating Co., Inc.: | ||||||
3.63%, 2/15/2032 (a)
|
12,382,000 | 12,230,568 | ||||
3.75%, 5/1/2029 (a)
|
6,630,000 | 6,695,836 | ||||
4.00%, 5/1/2031 (a)
|
8,969,000 | 9,057,524 | ||||
4.88%, 1/15/2030
|
8,383,000 | 8,969,139 | ||||
5.38%, 5/1/2025 (a)
|
5,009,000 | 5,275,679 | ||||
5.75%, 5/1/2028 (a)
|
3,532,000 | 3,821,306 |
Security Description | Principal
Amount |
Value | |||
Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Esc: | |||||
4.88%, 7/1/2031 (a)
|
$ 4,653,000 | $ 4,644,625 | |||
5.00%, 6/1/2029 (a) (b)
|
6,748,000 | 6,889,641 | |||
Hilton Worldwide Finance LLC/Hilton Worldwide
Finance Corp. 4.88%, 4/1/2027
|
4,648,000 | 4,849,537 | |||
Marriott Ownership Resorts, Inc.: | |||||
4.50%, 6/15/2029 (a)
|
4,784,000 | 4,850,354 | |||
6.13%, 9/15/2025 (a)
|
4,159,000 | 4,421,516 | |||
Marriott Ownership Resorts, Inc./ILG
LLC 6.50%, 9/15/2026
|
9,460,000 | 9,842,941 | |||
Melco Resorts Finance, Ltd.: | |||||
5.25%, 4/26/2026 (a)
|
434,000 | 451,134 | |||
5.38%, 12/4/2029 (a)
|
7,632,000 | 8,046,647 | |||
5.75%, 7/21/2028 (a) (b)
|
5,995,000 | 6,335,636 | |||
Series REGS, 4.88%, 6/6/2025 (b)
|
8,397,000 | 8,608,101 | |||
Series REGS, 5.25%, 4/26/2026 (b)
|
6,794,000 | 7,062,227 | |||
Series REGS, 5.63%, 7/17/2027 (b)
|
4,841,000 | 5,063,734 | |||
MGM China Holdings, Ltd.: | |||||
4.75%, 2/1/2027 (a)
|
6,311,000 | 6,463,158 | |||
5.25%, 6/18/2025 (a)
|
4,019,000 | 4,174,937 | |||
5.38%, 5/15/2024 (a)
|
6,359,000 | 6,526,432 | |||
5.88%, 5/15/2026 (a) (b)
|
4,958,000 | 5,198,513 | |||
MGM Resorts International: | |||||
4.75%, 10/15/2028
|
5,539,000 | 5,888,456 | |||
5.50%, 4/15/2027
|
6,237,000 | 6,847,727 | |||
5.75%, 6/15/2025 (b)
|
6,546,000 | 7,218,536 | |||
6.75%, 5/1/2025
|
5,885,000 | 6,301,128 | |||
Station Casinos LLC: | |||||
4.50%, 2/15/2028 (a)
|
5,153,000 | 5,228,749 | |||
5.00%, 10/1/2025 (a)
|
76,500 | 77,648 | |||
Studio City Finance, Ltd.: | |||||
5.00%, 1/15/2029 (a)
|
8,819,000 | 8,889,111 | |||
6.00%, 7/15/2025 (a)
|
3,941,000 | 4,144,907 | |||
6.50%, 1/15/2028 (a) (b)
|
4,576,000 | 4,890,142 | |||
Travel + Leisure Co. 6.63%, 7/31/2026 (a)
|
6,641,000 | 7,521,729 | |||
Universal Entertainment Corp. 8.50%, 12/11/2024 (a)
|
5,689,000 | 5,988,583 | |||
Wyndham Hotels & Resorts, Inc. 4.38%, 8/15/2028 (a)
|
4,045,000 | 4,206,031 |
Security Description | Principal
Amount |
Value | ||||
Wynn Las Vegas LLC/Wynn Las Vegas Capital
Corp. REGS, 5.25%, 5/15/2027 (a) (b)
|
$ 8,236,000 | $ 8,844,393 | ||||
Wynn Macau, Ltd.: | ||||||
5.13%, 12/15/2029 (a)
|
7,980,000 | 8,221,555 | ||||
5.50%, 1/15/2026 (a)
|
8,309,000 | 8,694,621 | ||||
5.63%, 8/26/2028 (a)
|
14,225,000 | 14,867,828 | ||||
4.88%, 10/1/2024 (a) (b)
|
4,436,000 | 4,499,657 | ||||
REGS, 5.50%, 10/1/2027 (a)
|
6,846,000 | 7,138,735 | ||||
287,788,649 | ||||||
MACHINERY, CONSTRUCTION & MINING — 0.1% | ||||||
Terex Corp. 5.00%, 5/15/2029 (a)
|
5,425,000 | 5,649,161 | ||||
Weir Group PLC 2.20%, 5/13/2026 (a)
|
5,232,000 | 5,246,859 | ||||
10,896,020 | ||||||
MACHINERY-DIVERSIFIED — 0.3% | ||||||
GrafTech Finance, Inc. 4.63%, 12/15/2028 (a) (b)
|
4,363,000 | 4,487,084 | ||||
RBS Global, Inc./Rexnord LLC 4.88%, 12/15/2025 (a)
|
3,853,000 | 3,941,889 | ||||
Titan Acquisition, Ltd./Titan Co-Borrower
LLC 7.75%, 4/15/2026 (a)
|
5,421,000 | 5,620,439 | ||||
TK Elevator US Newco, Inc. 5.25%, 7/15/2027 (a)
|
12,428,000 | 13,091,779 | ||||
27,141,191 | ||||||
MEDIA — 8.4% | ||||||
Altice Financing SA 5.00%, 1/15/2028 (a) (b)
|
11,039,000 | 10,863,369 | ||||
AMC Networks, Inc.: | ||||||
4.25%, 2/15/2029
|
9,402,000 | 9,499,217 | ||||
4.75%, 8/1/2025 (b)
|
7,195,000 | 7,385,308 | ||||
Audacy Capital Corp. 6.75%, 3/31/2029 (a) (b)
|
5,294,000 | 5,502,425 | ||||
Cable One, Inc. 4.00%, 11/15/2030 (a) (b)
|
5,361,000 | 5,384,106 | ||||
CCO Holdings LLC/CCO Holdings Capital Corp.: | ||||||
4.00%, 3/1/2023 (a)
|
4,664,000 | 4,708,075 | ||||
4.25%, 2/1/2031 (a)
|
25,663,000 | 26,155,473 | ||||
4.50%, 8/15/2030 (a)
|
23,058,000 | 24,052,030 | ||||
4.50%, 5/1/2032
|
21,853,000 | 22,623,100 |
Security Description | Principal
Amount |
Value | |||
4.50%, 6/1/2033 (a)
|
$ 15,721,000 | $ 16,059,473 | |||
4.75%, 3/1/2030 (a)
|
26,008,000 | 27,482,133 | |||
5.00%, 2/1/2028 (a)
|
23,069,000 | 24,205,379 | |||
5.13%, 5/1/2027 (a)
|
26,897,500 | 28,208,484 | |||
5.38%, 6/1/2029 (a)
|
12,363,000 | 13,509,668 | |||
Cengage Learning, Inc. 9.50%, 6/15/2024 (a) (b)
|
2,435,000 | 2,494,097 | |||
Cequel Communications Holdings I LLC/Cequel
Capital Corp. 7.50%, 4/1/2028 (a)
|
100,000 | 109,662 | |||
Clear Channel Worldwide Holdings, Inc. 5.13%, 8/15/2027 (a)
|
11,685,000 | 11,953,404 | |||
CSC Holdings LLC: | |||||
3.38%, 2/15/2031 (a)
|
7,080,000 | 6,688,193 | |||
4.50%, 11/15/2031 (a)
|
12,744,000 | 12,828,875 | |||
4.63%, 12/1/2030 (a) (b)
|
18,668,000 | 18,310,508 | |||
5.00%, 11/15/2031 (a) (b)
|
4,277,000 | 4,299,839 | |||
5.38%, 2/1/2028 (a) (b)
|
9,635,000 | 10,183,617 | |||
5.50%, 4/15/2027 (a)
|
12,602,000 | 13,225,547 | |||
5.75%, 1/15/2030 (a)
|
18,705,000 | 19,458,999 | |||
6.50%, 2/1/2029 (a) (b)
|
14,124,000 | 15,640,776 | |||
7.50%, 4/1/2028 (a)
|
11,996,500 | 13,138,567 | |||
4.13%, 12/1/2030 (a)
|
8,864,000 | 8,834,128 | |||
Diamond Sports Group LLC/Diamond Sports Finance Co.: | |||||
5.38%, 8/15/2026 (a)
|
24,062,000 | 15,590,732 | |||
6.63%, 8/15/2027 (a) (b)
|
14,053,000 | 6,892,575 | |||
DISH DBS Corp.: | |||||
5.13%, 6/1/2029 (a)
|
13,019,000 | 12,867,329 | |||
7.38%, 7/1/2028 (b)
|
9,093,000 | 9,787,251 | |||
7.75%, 7/1/2026
|
2,916,000 | 3,300,854 | |||
GCI LLC 4.75%, 10/15/2028 (a)
|
5,974,000 | 6,121,916 | |||
Gray Television, Inc.: | |||||
4.75%, 10/15/2030 (a)
|
6,698,000 | 6,669,600 | |||
7.00%, 5/15/2027 (a)
|
8,401,000 | 9,120,546 | |||
iHeartCommunications, Inc.: | |||||
4.75%, 1/15/2028 (a)
|
3,963,000 | 4,084,743 | |||
5.25%, 8/15/2027 (a)
|
5,951,000 | 6,229,031 | |||
6.38%, 5/1/2026
|
6,549,230 | 6,967,726 | |||
8.38%, 5/1/2027 (b)
|
13,393,373 | 14,368,812 | |||
LCPR Senior Secured Financing DAC: | |||||
5.13%, 7/15/2029 (a)
|
8,994,000 | 9,292,691 | |||
6.75%, 10/15/2027 (a)
|
11,607,000 | 12,506,659 |
Security Description | Principal
Amount |
Value | |||
McGraw Hill LLC/McGraw-Hill Global Education
Finance, Inc. 8.00%, 11/30/2024 (a)
|
$ 6,369,000 | $ 6,518,990 | |||
Meredith Corp. 6.88%, 2/1/2026 (b)
|
5,241,000 | 5,462,642 | |||
News Corp. 3.88%, 5/15/2029 (a)
|
8,693,000 | 8,779,321 | |||
Nexstar Broadcasting, Inc.: | |||||
4.75%, 11/1/2028 (a) (b)
|
8,318,000 | 8,550,571 | |||
5.63%, 7/15/2027 (a)
|
15,864,000 | 16,869,619 | |||
Radiate Holdco LLC/Radiate Finance, Inc.: | |||||
4.50%, 9/15/2026 (a)
|
7,226,000 | 7,477,682 | |||
6.50%, 9/15/2028 (a) (b)
|
7,013,000 | 7,366,175 | |||
Scripps Escrow II, Inc.: | |||||
3.88%, 1/15/2029 (a)
|
5,932,000 | 5,885,137 | |||
5.38%, 1/15/2031 (a) (b)
|
4,660,000 | 4,647,511 | |||
Scripps Escrow, Inc. 5.88%, 7/15/2027 (a)
|
4,799,000 | 4,969,029 | |||
Sinclair Television Group, Inc.: | |||||
4.13%, 12/1/2030 (a)
|
8,492,000 | 8,351,797 | |||
5.50%, 3/1/2030 (a) (b)
|
4,130,000 | 4,207,727 | |||
Sirius XM Radio, Inc.: | |||||
3.88%, 8/1/2022 (a)
|
7,572,000 | 7,584,267 | |||
4.00%, 7/15/2028 (a)
|
16,628,000 | 17,155,939 | |||
4.13%, 7/1/2030 (a)
|
11,821,000 | 11,958,833 | |||
4.63%, 7/15/2024 (a)
|
11,602,000 | 11,912,702 | |||
5.00%, 8/1/2027 (a) (b)
|
12,496,000 | 13,122,299 | |||
5.50%, 7/1/2029 (a)
|
12,242,000 | 13,337,537 | |||
TEGNA, Inc.: | |||||
4.63%, 3/15/2028 (b)
|
8,222,000 | 8,529,667 | |||
4.75%, 3/15/2026 (a) (b)
|
4,505,000 | 4,799,762 | |||
5.00%, 9/15/2029 (b)
|
8,792,000 | 9,203,641 | |||
Telenet Finance Luxembourg Notes
S.a.r.l. 5.50%, 3/1/2028 (a)
|
9,400,000 | 9,888,800 | |||
Townsquare Media, Inc. 6.88%, 2/1/2026 (a)
|
4,247,000 | 4,542,634 | |||
Univision Communications, Inc.: | |||||
4.50%, 5/1/2029 (a) (b)
|
10,029,000 | 10,104,418 | |||
6.63%, 6/1/2027 (a)
|
11,627,000 | 12,598,203 | |||
UPC Broadband Finco B.V. 4.88%, 7/15/2031 (a)
|
12,141,000 | 12,188,593 | |||
UPC Holding B.V. 5.50%, 1/15/2028 (a)
|
4,149,000 | 4,349,978 |
Security Description | Principal
Amount |
Value | ||||
Urban One, Inc. 7.38%, 2/1/2028 (a)
|
$ 7,061,000 | $ 7,626,868 | ||||
ViacomCBS, Inc.: | ||||||
3 Month USD LIBOR + 3.90%, 5.88%, 2/28/2057
(c)
|
200 | 203 | ||||
3 Month USD LIBOR + 3.90%, 6.25%, 2/28/2057
(c)
|
3,614,000 | 4,133,802 | ||||
Videotron, Ltd.: | ||||||
3.63%, 6/15/2029 (a)
|
4,867,000 | 4,938,156 | ||||
5.13%, 4/15/2027 (a)
|
6,055,000 | 6,331,229 | ||||
Virgin Media Finance PLC 5.00%, 7/15/2030 (a)
|
8,061,000 | 8,126,697 | ||||
Virgin Media Secured Finance PLC: | ||||||
4.50%, 8/15/2030 (a)
|
7,668,000 | 7,727,887 | ||||
5.50%, 5/15/2029 (a)
|
12,552,000 | 13,489,509 | ||||
Virgin Media Vendor Financing Notes IV
DAC 5.00%, 7/15/2028 (a) (b)
|
4,145,000 | 4,229,475 | ||||
Ziggo B.V.: | ||||||
4.88%, 1/15/2030 (a)
|
8,356,000 | 8,572,420 | ||||
5.50%, 1/15/2027 (a)
|
14,675,000 | 15,250,113 | ||||
Ziggo Bond Co. B.V.: | ||||||
5.13%, 2/28/2030 (a) (b)
|
4,124,000 | 4,218,357 | ||||
6.00%, 1/15/2027 (a)
|
5,296,000 | 5,530,507 | ||||
817,143,614 | ||||||
METAL FABRICATE & HARDWARE — 0.0% (e) | ||||||
Grinding Media, Inc./Moly-Cop AltaSteel,
Ltd. 7.38%, 12/15/2023 (a)
|
3,649,000 | 3,731,175 | ||||
MINING — 1.5% | ||||||
Alcoa Nederland Holding B.V.: | ||||||
4.13%, 3/31/2029 (a) (b)
|
4,143,000 | 4,316,095 | ||||
5.50%, 12/15/2027 (a) (b)
|
6,284,000 | 6,807,520 | ||||
6.13%, 5/15/2028 (a)
|
4,659,000 | 5,095,781 | ||||
7.00%, 9/30/2026 (a)
|
5,115,000 | 5,354,791 | ||||
Arconic Corp.: | ||||||
6.00%, 5/15/2025 (a) (b)
|
5,251,000 | 5,593,260 | ||||
6.13%, 2/15/2028 (a)
|
7,516,000 | 8,059,783 | ||||
Compass Minerals International, Inc. 6.75%, 12/1/2027 (a)
|
4,443,000 | 4,774,670 | ||||
Constellium SE: | ||||||
3.75%, 4/15/2029 (a) (b)
|
4,304,000 | 4,263,456 | ||||
5.88%, 2/15/2026 (a)
|
3,470,000 | 3,572,539 |
Security Description | Principal
Amount |
Value | ||||
FMG Resources August 2006 Pty, Ltd.: | ||||||
4.38%, 4/1/2031 (a)
|
$ 12,287,000 | $ 13,120,550 | ||||
4.50%, 9/15/2027 (a)
|
5,330,000 | 5,793,444 | ||||
5.13%, 5/15/2024 (a)
|
3,989,000 | 4,338,237 | ||||
Freeport-McMoRan, Inc.: | ||||||
4.13%, 3/1/2028
|
6,162,000 | 6,426,411 | ||||
4.25%, 3/1/2030
|
4,918,000 | 5,271,358 | ||||
4.38%, 8/1/2028
|
5,486,000 | 5,789,540 | ||||
4.63%, 8/1/2030 (b)
|
7,182,000 | 7,859,765 | ||||
5.00%, 9/1/2027 (b)
|
6,636,000 | 7,002,971 | ||||
5.25%, 9/1/2029
|
5,274,000 | 5,817,117 | ||||
Hudbay Minerals, Inc.: | ||||||
4.50%, 4/1/2026 (a)
|
495,000 | 497,351 | ||||
6.13%, 4/1/2029 (a)
|
525,000 | 559,314 | ||||
Kaiser Aluminum Corp.: | ||||||
4.50%, 6/1/2031 (a)
|
4,617,000 | 4,753,109 | ||||
4.63%, 3/1/2028 (a)
|
4,480,000 | 4,629,901 | ||||
Novelis Corp.: | ||||||
4.75%, 1/30/2030 (a)
|
12,854,000 | 13,492,844 | ||||
5.88%, 9/30/2026 (a)
|
12,799,000 | 13,325,551 | ||||
146,515,358 | ||||||
MISCELLANEOUS MANUFACTURER — 0.5% | ||||||
Bombardier, Inc.: | ||||||
7.13%, 6/15/2026 (a)
|
11,738,000 | 12,289,334 | ||||
7.50%, 12/1/2024 (a)
|
8,030,000 | 8,403,315 | ||||
7.88%, 4/15/2027 (a) (b)
|
17,211,000 | 17,841,611 | ||||
FXI Holdings, Inc.: | ||||||
7.88%, 11/1/2024 (a)
|
3,588,000 | 3,702,062 | ||||
12.25%, 11/15/2026 (a)
|
6,964,000 | 8,028,099 | ||||
Gates Global LLC/Gates Corp. 6.25%, 1/15/2026 (a)
|
2,957,000 | 3,100,858 | ||||
53,365,279 | ||||||
OFFICE & BUSINESS EQUIPMENT — 0.4% | ||||||
CDW LLC/CDW Finance Corp.: | ||||||
3.25%, 2/15/2029
|
5,817,000 | 5,884,419 | ||||
4.13%, 5/1/2025
|
3,448,000 | 3,601,919 | ||||
4.25%, 4/1/2028
|
4,607,000 | 4,835,092 | ||||
Xerox Corp. 4.38%, 3/15/2023
|
6,778,000 | 7,073,724 |
Security Description | Principal
Amount |
Value | ||||
Xerox Holdings Corp.: | ||||||
5.00%, 8/15/2025 (a)
|
$ 7,042,000 | $ 7,440,014 | ||||
5.50%, 8/15/2028 (a) (b)
|
7,477,000 | 7,728,078 | ||||
36,563,246 | ||||||
OIL & GAS — 6.8% | ||||||
Aethon United BR L.P./Aethon United Finance
Corp. 8.25%, 2/15/2026 (a)
|
7,233,000 | 7,834,135 | ||||
Antero Resources Corp.: | ||||||
5.00%, 3/1/2025 (b)
|
6,022,000 | 6,169,539 | ||||
5.38%, 3/1/2030 (a)
|
5,817,000 | 5,936,249 | ||||
7.63%, 2/1/2029 (a)
|
6,647,000 | 7,390,932 | ||||
8.38%, 7/15/2026 (a)
|
4,841,385 | 5,505,575 | ||||
Apache Corp.: | ||||||
4.25%, 1/15/2030 (b)
|
5,344,000 | 5,648,715 | ||||
4.38%, 10/15/2028 (b)
|
7,875,000 | 8,386,954 | ||||
4.63%, 11/15/2025
|
4,611,000 | 4,968,675 | ||||
4.88%, 11/15/2027
|
6,503,000 | 7,050,423 | ||||
Ascent Resources Utica Holdings LLC/ARU Finance
Corp. 7.00%, 11/1/2026 (a)
|
5,822,000 | 6,074,093 | ||||
Baytex Energy Corp. 8.75%, 4/1/2027 (a)
|
5,129,000 | 5,180,546 | ||||
California Resources Corp. 7.13%, 2/1/2026 (a) (b)
|
5,785,000 | 6,096,175 | ||||
Callon Petroleum Co.: | ||||||
6.13%, 10/1/2024
|
100 | 99 | ||||
8.00%, 8/1/2028 (a) (d)
|
6,262,000 | 6,330,193 | ||||
Calumet Specialty Products Partners L.P./Calumet
Finance Corp. 11.00%, 4/15/2025 (a)
|
4,123,000 | 4,494,730 | ||||
Chesapeake Energy Corp.: | ||||||
5.50%, 2/1/2026 (a)
|
4,501,000 | 4,749,500 | ||||
5.88%, 2/1/2029 (a)
|
5,418,000 | 5,859,188 | ||||
CNX Resources Corp.: | ||||||
6.00%, 1/15/2029 (a) (b)
|
5,197,000 | 5,618,373 | ||||
7.25%, 3/14/2027 (a)
|
6,379,000 | 6,839,691 | ||||
Colgate Energy Partners III LLC 5.88%, 7/1/2029 (a)
|
3,834,000 | 3,974,094 | ||||
Comstock Resources, Inc.: | ||||||
5.88%, 1/15/2030 (a)
|
8,583,000 | 8,763,844 | ||||
6.75%, 3/1/2029 (a) (b)
|
10,547,000 | 11,234,032 | ||||
7.50%, 5/15/2025 (a) (b)
|
377,000 | 391,311 |
Security Description | Principal
Amount |
Value | |||
Continental Resources, Inc.: | |||||
4.38%, 1/15/2028 (b)
|
$ 8,121,000 | $ 8,978,496 | |||
5.75%, 1/15/2031 (a) (b)
|
11,064,000 | 13,254,229 | |||
CrownRock L.P./CrownRock Finance, Inc. 5.63%, 10/15/2025 (a)
|
11,296,000 | 11,688,084 | |||
CVR Energy, Inc. 5.25%, 2/15/2025 (a)
|
4,216,000 | 4,217,012 | |||
Encino Acquisition Partners Holdings
LLC 8.50%, 5/1/2028 (a)
|
6,382,000 | 6,513,342 | |||
Endeavor Energy Resources L.P./EER Finance, Inc.: | |||||
5.50%, 1/30/2026 (a)
|
4,247,000 | 4,409,703 | |||
5.75%, 1/30/2028 (a)
|
8,037,000 | 8,569,291 | |||
6.63%, 7/15/2025 (a)
|
4,758,000 | 5,098,673 | |||
EQT Corp.: | |||||
3.00%, 10/1/2022 (b)
|
3,337,000 | 3,405,675 | |||
3.13%, 5/15/2026 (a)
|
4,551,000 | 4,662,545 | |||
3.63%, 5/15/2031 (a)
|
4,444,000 | 4,648,646 | |||
3.90%, 10/1/2027
|
7,305,000 | 7,827,088 | |||
7.63%, 2/1/2025
|
8,258,000 | 9,624,451 | |||
8.50%, 2/1/2030 (b)
|
6,852,000 | 8,915,480 | |||
Gulfport Energy Operating Corp.: | |||||
6.38%, 5/15/2025
|
1,081,000 | 40,538 | |||
8.00%, 5/17/2026 (b)
|
915,109 | 981,015 | |||
8.00%, 5/17/2026 (a)
|
3,829,000 | 4,116,520 | |||
Hilcorp Energy I L.P./Hilcorp Finance Co.: | |||||
5.75%, 2/1/2029 (a)
|
7,809,000 | 8,140,804 | |||
6.00%, 2/1/2031 (a)
|
3,973,000 | 4,209,791 | |||
6.25%, 11/1/2028 (a)
|
5,789,000 | 6,151,449 | |||
Independence Energy Finance LLC 7.25%, 5/1/2026 (a)
|
5,545,000 | 5,845,761 | |||
Indigo Natural Resources LLC 5.38%, 2/1/2029 (a)
|
5,831,000 | 6,114,503 | |||
Ithaca Energy North Sea PLC 9.38%, 7/15/2024 (a)
|
4,374,000 | 4,527,221 | |||
Laredo Petroleum, Inc. 9.50%, 1/15/2025
|
5,894,000 | 6,212,983 | |||
Matador Resources Co. 5.88%, 9/15/2026 (b)
|
8,816,000 | 9,080,744 | |||
MEG Energy Corp.: | |||||
5.88%, 2/1/2029 (a)
|
6,035,000 | 6,340,612 | |||
7.13%, 2/1/2027 (a) (b)
|
11,461,000 | 12,230,606 |
Security Description | Principal
Amount |
Value | |||
Moss Creek Resources Holdings, Inc.: | |||||
7.50%, 1/15/2026 (a)
|
$ 7,422,000 | $ 6,924,429 | |||
10.50%, 5/15/2027 (a)
|
4,114,000 | 4,077,591 | |||
Murphy Oil Corp.: | |||||
5.75%, 8/15/2025 (b)
|
5,901,000 | 6,069,592 | |||
5.88%, 12/1/2027 (b)
|
4,160,500 | 4,339,942 | |||
6.38%, 7/15/2028
|
5,669,000 | 5,980,965 | |||
6.88%, 8/15/2024 (b)
|
4,070,000 | 4,163,122 | |||
Nabors Industries, Inc. 5.75%, 2/1/2025
|
6,483,462 | 5,964,331 | |||
Nabors Industries, Ltd. 7.25%, 1/15/2026 (a)
|
4,960,000 | 4,861,891 | |||
Neptune Energy Bondco PLC 6.63%, 5/15/2025 (a)
|
6,658,000 | 6,827,579 | |||
Northern Oil & Gas, Inc. 8.13%, 3/1/2028 (a)
|
5,500,000 | 5,940,605 | |||
Occidental Petroleum Corp.: | |||||
2.70%, 8/15/2022
|
4,816,000 | 4,911,309 | |||
2.90%, 8/15/2024
|
24,907,000 | 25,468,155 | |||
3.00%, 2/15/2027
|
5,693,000 | 5,650,416 | |||
3.20%, 8/15/2026
|
8,750,000 | 8,818,337 | |||
3.50%, 8/15/2029
|
12,080,000 | 12,123,971 | |||
5.50%, 12/1/2025
|
6,426,000 | 7,100,344 | |||
5.55%, 3/15/2026
|
9,214,000 | 10,192,987 | |||
5.88%, 9/1/2025
|
7,550,000 | 8,406,850 | |||
6.13%, 1/1/2031 (b)
|
10,243,000 | 12,044,232 | |||
6.38%, 9/1/2028 (b)
|
5,463,000 | 6,358,877 | |||
6.63%, 9/1/2030
|
12,485,000 | 15,017,707 | |||
6.95%, 7/1/2024
|
5,318,000 | 5,989,132 | |||
7.50%, 5/1/2031
|
8,089,000 | 10,198,530 | |||
8.00%, 7/15/2025 (b)
|
3,224,000 | 3,866,672 | |||
8.50%, 7/15/2027
|
4,929,000 | 6,201,520 | |||
8.88%, 7/15/2030
|
7,671,000 | 10,268,247 | |||
Parkland Corp.: | |||||
4.50%, 10/1/2029 (a)
|
7,341,000 | 7,454,932 | |||
5.88%, 7/15/2027 (a)
|
4,831,000 | 5,169,363 | |||
Patterson-UTI Energy, Inc. 3.95%, 2/1/2028 (b)
|
3,908,000 | 3,953,685 | |||
PBF Holding Co. LLC/PBF Finance Corp.: | |||||
7.25%, 6/15/2025 (b)
|
6,289,000 | 4,773,728 | |||
9.25%, 5/15/2025 (a) (b)
|
10,545,000 | 10,624,193 | |||
Series WI, 6.00%, 2/15/2028
|
8,250,000 | 5,476,515 |
Security Description | Principal
Amount |
Value | ||||
PDC Energy, Inc. 5.75%, 5/15/2026 (b)
|
$ 6,767,000 | $ 7,070,771 | ||||
Puma International Financing SA: | ||||||
5.00%, 1/24/2026 (a)
|
7,209,000 | 7,255,570 | ||||
5.13%, 10/6/2024 (a)
|
5,630,000 | 5,685,681 | ||||
Range Resources Corp.: | ||||||
5.00%, 3/15/2023
|
4,832,000 | 5,027,551 | ||||
8.25%, 1/15/2029 (a) (b)
|
5,194,000 | 5,856,339 | ||||
9.25%, 2/1/2026
|
8,073,000 | 8,903,308 | ||||
Southwestern Energy Co. 7.50%, 4/1/2026 (b)
|
7,371,000 | 7,800,582 | ||||
Sunoco L.P./Sunoco Finance Corp.: | ||||||
4.50%, 5/15/2029 (a)
|
7,166,000 | 7,313,333 | ||||
6.00%, 4/15/2027
|
5,222,000 | 5,478,191 | ||||
5.50%, 2/15/2026
|
6,642,000 | 6,843,983 | ||||
Talos Production, Inc. 12.00%, 1/15/2026
|
5,537,000 | 5,875,366 | ||||
Transocean Guardian, Ltd. 5.88%, 1/15/2024 (a)
|
4,580,520 | 4,460,281 | ||||
Transocean Poseidon, Ltd. 6.88%, 2/1/2027 (a)
|
5,118,000 | 5,143,488 | ||||
Transocean, Inc.: | ||||||
7.50%, 1/15/2026 (a)
|
4,252,000 | 3,655,359 | ||||
8.00%, 2/1/2027 (a)
|
5,494,000 | 4,612,598 | ||||
11.50%, 1/30/2027 (a) (b)
|
5,537,000 | 5,917,946 | ||||
Vine Energy Holdings LLC 6.75%, 4/15/2029 (a)
|
8,293,000 | 8,729,046 | ||||
W&T Offshore, Inc. 9.75%, 11/1/2023 (a)
|
5,052,000 | 4,899,430 | ||||
666,050,900 | ||||||
OIL & GAS SERVICES — 0.7% | ||||||
Archrock Partners L.P./Archrock Partners Finance Corp.: | ||||||
6.25%, 4/1/2028 (a)
|
7,660,000 | 7,990,452 | ||||
6.88%, 4/1/2027 (a)
|
5,177,000 | 5,495,179 | ||||
CGG SA 8.75%, 4/1/2027 (a) (b)
|
4,141,000 | 4,287,923 | ||||
KCA Deutag UK Finance PLC 9.88%, 12/1/2025 (a)
|
4,798,000 | 5,291,522 | ||||
TechnipFMC PLC 6.50%, 2/1/2026 (a)
|
8,121,000 | 8,761,097 |
Security Description | Principal
Amount |
Value | ||||
USA Compression Partners L.P./USA Compression Finance Corp.: | ||||||
6.88%, 4/1/2026
|
$ 6,028,000 | $ 6,321,865 | ||||
6.88%, 9/1/2027
|
5,448,000 | 5,820,861 | ||||
Weatherford International, Ltd.: | ||||||
8.75%, 9/1/2024 (a)
|
6,610,558 | 6,912,991 | ||||
11.00%, 12/1/2024 (a)
|
16,333,000 | 16,970,477 | ||||
67,852,367 | ||||||
PACKAGING & CONTAINERS — 2.0% | ||||||
ARD Finance SA 6.50%, 6/30/2027 (a)
|
9,484,613 | 9,952,015 | ||||
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC: | ||||||
3.25%, 9/1/2028 (a) (b)
|
4,351,000 | 4,351,435 | ||||
4.00%, 9/1/2029 (a)
|
9,818,000 | 9,743,972 | ||||
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.: | ||||||
4.13%, 8/15/2026 (a)
|
8,750,000 | 9,032,975 | ||||
5.25%, 4/30/2025 (a)
|
5,926,000 | 6,213,826 | ||||
5.25%, 8/15/2027 (a)
|
8,218,000 | 8,388,030 | ||||
5.25%, 8/15/2027 (a)
|
9,606,000 | 9,808,590 | ||||
6.00%, 2/15/2025 (a)
|
6,375,000 | 6,577,916 | ||||
Ball Corp.: | ||||||
2.88%, 8/15/2030 (b)
|
8,183,000 | 8,025,314 | ||||
4.88%, 3/15/2026
|
5,809,000 | 6,472,969 | ||||
Berry Global, Inc. 5.63%, 7/15/2027 (a)
|
3,970,000 | 4,197,163 | ||||
Cascades, Inc./Cascades USA, Inc. 5.38%, 1/15/2028 (a)
|
4,986,000 | 5,241,632 | ||||
Crown Americas LLC/Crown Americas Capital
Corp. 4.75%, 2/1/2026
|
6,929,000 | 7,189,738 | ||||
Flex Acquisition Co., Inc.: | ||||||
6.88%, 1/15/2025 (a)
|
5,873,500 | 5,983,746 | ||||
7.88%, 7/15/2026 (a) (b)
|
3,038,000 | 3,164,624 | ||||
Graham Packaging Co., Inc. 7.13%, 8/15/2028 (a)
|
4,929,000 | 5,312,082 | ||||
Greif, Inc. 6.50%, 3/1/2027 (a)
|
4,307,000 | 4,536,865 | ||||
Intelligent Packaging, Ltd. Finco,
Inc./Intelligent Packaging, Ltd. Co-Issuer LLC 6.00%, 9/15/2028 (a)
|
5,768,000 | 6,017,697 | ||||
LABL Escrow Issuer LLC: | ||||||
6.75%, 7/15/2026 (a)
|
5,565,000 | 5,942,196 |
Security Description | Principal
Amount |
Value | ||||
10.50%, 7/15/2027 (a)
|
$ 7,419,000 | $ 8,172,622 | ||||
Mauser Packaging Solutions Holding Co.: | ||||||
5.50%, 4/15/2024 (a)
|
13,842,000 | 13,954,120 | ||||
7.25%, 4/15/2025 (a)
|
11,255,050 | 11,058,762 | ||||
Owens-Brockway Glass Container, Inc. 6.63%, 5/13/2027 (a) (b)
|
4,691,000 | 5,105,731 | ||||
Plastipak Holdings, Inc. 6.25%, 10/15/2025 (a) (b)
|
5,289,000 | 5,408,002 | ||||
Reynolds Group Issuer, Inc./Reynolds Group Issuer
LLC/Reynolds Group Issuer Lu 4.00%, 10/15/2027 (a) (b)
|
9,098,000 | 9,033,768 | ||||
Silgan Holdings, Inc. 4.13%, 2/1/2028
|
3,869,000 | 4,014,784 | ||||
Trivium Packaging Finance B.V.: | ||||||
5.50%, 8/15/2026 (a)
|
9,591,000 | 10,070,646 | ||||
8.50%, 8/15/2027 (a)
|
6,179,000 | 6,709,591 | ||||
199,680,811 | ||||||
PHARMACEUTICALS — 3.0% | ||||||
AdaptHealth LLC 4.63%, 8/1/2029 (a) (b)
|
4,397,000 | 4,455,348 | ||||
Bausch Health Americas, Inc.: | ||||||
8.50%, 1/31/2027 (a)
|
14,559,000 | 15,824,468 | ||||
9.25%, 4/1/2026 (a)
|
12,537,000 | 13,634,614 | ||||
Bausch Health Cos., Inc.: | ||||||
4.88%, 6/1/2028 (a)
|
12,753,000 | 13,041,983 | ||||
5.00%, 1/30/2028 (a) (b)
|
11,984,000 | 11,387,556 | ||||
5.00%, 2/15/2029 (a)
|
9,443,000 | 8,802,859 | ||||
5.25%, 1/30/2030 (a) (b)
|
11,324,000 | 10,565,066 | ||||
5.25%, 2/15/2031 (a)
|
9,368,000 | 8,742,873 | ||||
5.50%, 11/1/2025 (a)
|
14,010,000 | 14,373,840 | ||||
5.75%, 8/15/2027 (a)
|
5,320,000 | 5,590,096 | ||||
6.25%, 2/15/2029 (a)
|
12,989,000 | 12,844,952 | ||||
7.00%, 1/15/2028 (a)
|
6,685,000 | 6,902,262 | ||||
7.25%, 5/30/2029 (a)
|
8,427,000 | 8,635,315 | ||||
9.00%, 12/15/2025 (a)
|
14,135,000 | 15,152,579 | ||||
Cheplapharm Arzneimittel GmbH 5.50%, 1/15/2028 (a)
|
4,921,000 | 5,045,551 | ||||
Elanco Animal Health, Inc.: | ||||||
5.90%, 8/28/2028
|
4,887,000 | 5,721,748 | ||||
5.27%, 8/28/2023 (b)
|
5,464,000 | 5,890,247 |
Security Description | Principal
Amount |
Value | ||||
Endo Dac/Endo Finance LLC/Endo Finco, Inc.: | ||||||
9.50%, 7/31/2027 (a) (b)
|
$ 8,847,000 | $ 9,049,862 | ||||
GMTN, 6.00%, 6/30/2028 (a)
|
10,542,000 | 7,102,251 | ||||
Endo Luxembourg Finance Co. I Sarl/Endo US,
Inc. 6.13%, 4/1/2029 (a)
|
12,652,000 | 12,401,364 | ||||
Herbalife Nutrition, Ltd./HLF Financing,
Inc. 7.88%, 9/1/2025 (a)
|
5,332,000 | 5,798,070 | ||||
HLF Financing Sarl LLC/Herbalife International,
Inc. 4.88%, 6/1/2029 (a)
|
5,491,000 | 5,532,567 | ||||
Horizon Pharma USA, Inc. 5.50%, 8/1/2027 (a)
|
6,261,000 | 6,646,490 | ||||
Jazz Securities DAC 4.38%, 1/15/2029 (a)
|
11,371,000 | 11,797,754 | ||||
Mallinckrodt International Finance SA/Mallinckrodt CB LLC: | ||||||
5.63%, 10/15/2023 (a) (f)
|
2,246,000 | 1,571,302 | ||||
5.75%, 8/1/2022 (a) (f)
|
157,000 | 109,614 | ||||
Organon & Co./Organon Foreign Debt Co-Issuer BV: | ||||||
4.13%, 4/30/2028 (a)
|
17,399,000 | 17,751,852 | ||||
5.13%, 4/30/2031 (a)
|
17,769,000 | 18,303,847 | ||||
Owens & Minor, Inc. 4.50%, 3/31/2029 (a)
|
4,520,000 | 4,645,159 | ||||
Par Pharmaceutical, Inc. 7.50%, 4/1/2027 (a)
|
18,309,000 | 18,723,516 | ||||
Prestige Brands, Inc. 3.75%, 4/1/2031 (a)
|
4,592,000 | 4,436,193 | ||||
290,481,198 | ||||||
PIPELINES — 4.8% | ||||||
AI Candelaria Spain SLU 7.50%, 12/15/2028 (a)
|
1,801,000 | 2,013,590 | ||||
Antero Midstream Partners L.P./Antero Midstream Finance Corp.: | ||||||
5.38%, 6/15/2029 (a)
|
5,974,000 | 6,238,768 | ||||
5.75%, 3/1/2027 (a)
|
5,432,000 | 5,649,932 | ||||
5.75%, 1/15/2028 (a) (b)
|
5,546,000 | 5,835,557 | ||||
7.88%, 5/15/2026 (a)
|
5,761,000 | 6,437,860 | ||||
Blue Racer Midstream LLC/Blue Racer Finance
Corp. 7.63%, 12/15/2025 (a)
|
5,266,000 | 5,704,816 | ||||
Buckeye Partners L.P.: | ||||||
3.95%, 12/1/2026
|
5,028,000 | 5,128,962 | ||||
4.13%, 3/1/2025 (a)
|
4,880,000 | 5,068,222 | ||||
4.50%, 3/1/2028 (a)
|
4,606,000 | 4,721,196 |
Security Description | Principal
Amount |
Value | |||
Cheniere Energy Partners L.P.: | |||||
4.00%, 3/1/2031 (a)
|
$ 12,184,000 | $ 12,739,469 | |||
5.63%, 10/1/2026
|
9,978,000 | 10,352,175 | |||
4.50%, 10/1/2029
|
11,946,000 | 12,842,667 | |||
Cheniere Energy, Inc. 4.63%, 10/15/2028 (a)
|
16,455,000 | 17,359,038 | |||
CQP Holdco L.P./BIP-V Chinook Holdco
LLC 5.50%, 6/15/2031 (a)
|
11,451,000 | 11,930,339 | |||
Crestwood Midstream Partners L.P./Crestwood Midstream Finance Corp.: | |||||
5.63%, 5/1/2027 (a)
|
6,248,000 | 6,428,442 | |||
5.75%, 4/1/2025 (b)
|
4,747,000 | 4,879,584 | |||
6.00%, 2/1/2029 (a) (b)
|
6,546,000 | 6,858,048 | |||
DCP Midstream Operating L.P.: | |||||
5.13%, 5/15/2029
|
4,280,000 | 4,732,268 | |||
5.38%, 7/15/2025
|
6,992,000 | 7,787,060 | |||
5.63%, 7/15/2027
|
4,786,000 | 5,453,121 | |||
DT Midstream, Inc.: | |||||
4.13%, 6/15/2029 (a)
|
9,801,000 | 9,950,367 | |||
4.38%, 6/15/2031 (a)
|
8,028,000 | 8,184,947 | |||
Energy Transfer L.P. 4.25%, 3/15/2023
|
35,000 | 35,588 | |||
EnLink Midstream LLC 5.63%, 1/15/2028 (a)
|
4,428,000 | 4,694,344 | |||
EQM Midstream Partners L.P.: | |||||
4.13%, 12/1/2026
|
4,770,000 | 4,881,666 | |||
4.50%, 1/15/2029 (a)
|
7,454,000 | 7,585,116 | |||
4.75%, 7/15/2023 (b)
|
5,138,000 | 5,364,175 | |||
4.75%, 1/15/2031 (a)
|
8,457,000 | 8,714,431 | |||
5.50%, 7/15/2028
|
7,256,000 | 7,838,802 | |||
6.00%, 7/1/2025 (a)
|
6,116,000 | 6,651,211 | |||
6.50%, 7/1/2027 (a)
|
8,516,000 | 9,493,807 | |||
Genesis Energy L.P./Genesis Energy Finance Corp.: | |||||
6.50%, 10/1/2025
|
5,796,000 | 5,863,523 | |||
7.75%, 2/1/2028
|
6,441,000 | 6,657,418 | |||
8.00%, 1/15/2027
|
11,193,000 | 11,761,604 | |||
Harvest Midstream I L.P. 7.50%, 9/1/2028 (a)
|
6,989,000 | 7,601,376 | |||
Hess Infrastructure Partners L.P./Hess
Infrastructure Partners Finance Corp. 5.63%, 2/15/2026 (a)
|
31,000 | 32,173 |
Security Description | Principal
Amount |
Value | |||
Hess Midstream Operations L.P.: | |||||
5.13%, 6/15/2028 (a)
|
$ 3,875,000 | $ 4,064,139 | |||
5.63%, 2/15/2026 (a)
|
6,363,000 | 6,632,473 | |||
Holly Energy Partners L.P./Holly Energy Finance
Corp. 5.00%, 2/1/2028 (a) (b)
|
5,080,000 | 5,208,778 | |||
ITT Holdings LLC 6.50%, 8/1/2029 (a) (d)
|
11,754,000 | 11,975,210 | |||
New Fortress Energy, Inc.: | |||||
6.50%, 9/30/2026 (a)
|
13,336,000 | 13,597,519 | |||
6.75%, 9/15/2025 (a)
|
12,144,000 | 12,441,407 | |||
NGL Energy Operating LLC/NGL Energy Finance
Corp. 7.50%, 2/1/2026 (a)
|
17,052,000 | 17,906,476 | |||
NGL Energy Partners L.P./NGL Energy Finance
Corp. 7.50%, 11/1/2023
|
4,691,000 | 4,621,479 | |||
Northriver Midstream Finance L.P. 5.63%, 2/15/2026 (a)
|
3,879,000 | 4,027,643 | |||
NuStar Logistics L.P.: | |||||
5.63%, 4/28/2027
|
5,768,000 | 6,175,336 | |||
5.75%, 10/1/2025
|
5,105,000 | 5,553,883 | |||
6.00%, 6/1/2026
|
4,800,000 | 5,222,304 | |||
6.38%, 10/1/2030
|
4,984,000 | 5,505,675 | |||
Rattler Midstream L.P. 5.63%, 7/15/2025 (a)
|
4,376,000 | 4,598,169 | |||
Rockies Express Pipeline LLC 4.95%, 7/15/2029 (a)
|
4,776,000 | 4,930,647 | |||
Tallgrass Energy Partners L.P./Tallgrass Energy Finance Corp.: | |||||
5.50%, 9/15/2024 (a)
|
4,396,000 | 4,468,050 | |||
5.50%, 1/15/2028 (a)
|
7,096,000 | 7,206,627 | |||
6.00%, 12/31/2030 (a)
|
5,847,000 | 6,091,522 | |||
7.50%, 10/1/2025 (a)
|
4,862,000 | 5,297,149 | |||
Targa Resources Partners L.P./Targa Resources Partners Finance Corp.: | |||||
4.00%, 1/15/2032 (a)
|
8,422,000 | 8,668,091 | |||
4.88%, 2/1/2031 (a)
|
6,778,000 | 7,335,490 | |||
5.00%, 1/15/2028
|
6,326,000 | 6,681,964 | |||
5.50%, 3/1/2030
|
8,111,000 | 8,916,584 | |||
5.88%, 4/15/2026 (b)
|
7,407,000 | 7,771,498 | |||
6.50%, 7/15/2027
|
7,047,500 | 7,667,750 | |||
6.88%, 1/15/2029
|
7,195,000 | 8,099,268 | |||
Western Midstream Operating L.P.: | |||||
4.35%, 2/1/2025
|
7,004,000 | 7,400,216 | |||
4.65%, 7/1/2026
|
4,810,000 | 5,158,821 |
Security Description | Principal
Amount |
Value | ||||
5.30%, 2/1/2030 (b)
|
$ 10,067,000 | $ 11,305,342 | ||||
468,001,172 | ||||||
REAL ESTATE — 0.9% | ||||||
Cushman & Wakefield US Borrower LLC 6.75%, 5/15/2028 (a)
|
5,795,000 | 6,265,960 | ||||
Five Point Operating Co. L.P./Five Point Capital
Corp. 7.88%, 11/15/2025 (a)
|
6,918,000 | 7,304,924 | ||||
Greystar Real Estate Partners LLC 5.75%, 12/1/2025 (a)
|
4,252,000 | 4,370,673 | ||||
Howard Hughes Corp.: | ||||||
4.13%, 2/1/2029 (a)
|
6,417,000 | 6,416,551 | ||||
4.38%, 2/1/2031 (a)
|
5,546,000 | 5,524,204 | ||||
5.38%, 8/1/2028 (a)
|
6,339,000 | 6,726,440 | ||||
Hunt Cos., Inc. 5.25%, 4/15/2029 (a)
|
6,384,000 | 6,212,909 | ||||
Kennedy-Wilson, Inc.: | ||||||
4.75%, 3/1/2029
|
5,089,000 | 5,242,433 | ||||
5.00%, 3/1/2031
|
5,597,000 | 5,769,891 | ||||
Newmark Group, Inc. 6.13%, 11/15/2023
|
2,560,000 | 2,816,000 | ||||
Realogy Group LLC/Realogy Co-Issuer Corp.: | ||||||
5.75%, 1/15/2029 (a) (b)
|
8,227,000 | 8,601,246 | ||||
7.63%, 6/15/2025 (a)
|
5,177,000 | 5,616,683 | ||||
9.38%, 4/1/2027 (a) (b)
|
5,618,000 | 6,239,182 | ||||
WeWork Cos., Inc. 7.88%, 5/1/2025 (a)
|
5,743,000 | 5,999,597 | ||||
83,106,693 | ||||||
REAL ESTATE INVESTMENT TRUSTS — 3.8% | ||||||
Apollo Commercial Real Estate Finance,
Inc. 4.63%, 6/15/2029 (a)
|
4,719,000 | 4,654,255 | ||||
Brookfield Property REIT, Inc./BPR Cumulus
LLC/BPR Nimbus LLC/GGSI Sellco LL 5.75%, 5/15/2026 (a) (b)
|
7,515,000 | 7,896,236 | ||||
Diversified Healthcare Trust: | ||||||
4.38%, 3/1/2031
|
4,219,000 | 4,047,793 | ||||
4.75%, 2/15/2028
|
4,503,000 | 4,462,878 | ||||
9.75%, 6/15/2025
|
8,032,000 | 8,913,191 | ||||
EPR Properties 3.75%, 8/15/2029
|
4,355,000 | 4,365,583 |
Security Description | Principal
Amount |
Value | |||
Global Net Lease, Inc./Global Net Lease Operating
Partnership L.P. 3.75%, 12/15/2027 (a)
|
$ 4,141,000 | $ 4,090,852 | |||
HAT Holdings I LLC/HAT Holdings II LLC 3.38%, 6/15/2026 (a)
|
10,174,000 | 10,254,782 | |||
Iron Mountain, Inc.: | |||||
4.88%, 9/15/2027 (a)
|
9,492,000 | 9,841,021 | |||
4.88%, 9/15/2029 (a)
|
8,407,000 | 8,685,608 | |||
5.00%, 7/15/2028 (a)
|
3,598,000 | 3,733,573 | |||
5.25%, 3/15/2028 (a)
|
6,962,000 | 7,290,467 | |||
5.25%, 7/15/2030 (a)
|
10,409,000 | 11,022,611 | |||
5.63%, 7/15/2032 (a)
|
3,199,000 | 3,441,164 | |||
REIT, 4.50%, 2/15/2031 (a)
|
8,967,000 | 9,082,764 | |||
iStar, Inc.: | |||||
4.25%, 8/1/2025
|
5,496,000 | 5,650,438 | |||
4.75%, 10/1/2024
|
4,512,000 | 4,762,145 | |||
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.: | |||||
4.25%, 2/1/2027 (a)
|
4,935,000 | 4,941,662 | |||
4.75%, 6/15/2029 (a)
|
5,548,000 | 5,546,779 | |||
MGM Growth Properties Operating Partnership L.P./MGP Finance Co-Issuer, Inc.: | |||||
3.88%, 2/15/2029 (a)
|
6,963,000 | 7,083,390 | |||
4.50%, 9/1/2026
|
3,676,000 | 3,925,931 | |||
4.63%, 6/15/2025 (a)
|
6,601,000 | 7,050,066 | |||
5.63%, 5/1/2024
|
8,763,000 | 9,499,705 | |||
REIT, 5.75%, 2/1/2027
|
7,531,000 | 8,405,575 | |||
MPT Operating Partnership L.P./MPT Finance Corp.: | |||||
3.50%, 3/15/2031
|
9,908,000 | 10,008,269 | |||
4.63%, 8/1/2029 (b)
|
7,778,000 | 8,339,649 | |||
5.00%, 10/15/2027
|
11,377,000 | 12,064,057 | |||
5.25%, 8/1/2026
|
4,661,000 | 4,800,737 | |||
New Residential Investment Corp. 6.25%, 10/15/2025 (a)
|
5,447,000 | 5,450,649 | |||
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer: | |||||
4.88%, 5/15/2029 (a) (b)
|
6,159,000 | 6,376,105 | |||
5.88%, 10/1/2028 (a)
|
6,697,000 | 7,126,680 | |||
7.50%, 6/1/2025 (a)
|
5,210,500 | 5,646,410 | |||
RHP Hotel Properties L.P./RHP Finance Corp.: | |||||
4.50%, 2/15/2029 (a)
|
4,266,000 | 4,287,330 | |||
4.75%, 10/15/2027
|
7,314,000 | 7,509,576 |
Security Description | Principal
Amount |
Value | ||||
RLJ Lodging Trust L.P. 3.75%, 7/1/2026 (a)
|
$ 4,349,000 | $ 4,394,143 | ||||
SBA Communications Corp.: | ||||||
3.13%, 2/1/2029 (a)
|
12,125,000 | 11,709,234 | ||||
4.88%, 9/1/2024
|
9,047,000 | 9,205,413 | ||||
Series WI, 3.88%, 2/15/2027
|
11,648,000 | 11,985,210 | ||||
Service Properties Trust: | ||||||
4.35%, 10/1/2024
|
6,765,000 | 6,824,194 | ||||
7.50%, 9/15/2025
|
7,205,000 | 8,161,536 | ||||
Starwood Property Trust, Inc. 5.00%, 12/15/2021
|
500 | 503 | ||||
Uniti Group L.P./Uniti Fiber Holdings, Inc./CSL Capital LLC: | ||||||
7.13%, 12/15/2024 (a)
|
5,586,000 | 5,777,767 | ||||
7.88%, 2/15/2025 (a)
|
18,853,000 | 20,192,694 | ||||
Uniti Group L.P./Uniti Group Finance, Inc./CSL Capital LLC: | ||||||
4.75%, 4/15/2028 (a)
|
5,803,000 | 5,797,139 | ||||
6.50%, 2/15/2029 (a) (b)
|
8,709,000 | 8,749,932 | ||||
VICI Properties L.P./VICI Note Co., Inc.: | ||||||
3.50%, 2/15/2025 (a)
|
7,295,000 | 7,474,749 | ||||
4.25%, 12/1/2026 (a)
|
9,905,333 | 10,296,594 | ||||
4.63%, 12/1/2029 (a)
|
8,390,000 | 8,916,556 | ||||
REIT, 3.75%, 2/15/2027 (a)
|
6,529,000 | 6,667,415 | ||||
REIT, 4.13%, 8/15/2030 (a)
|
7,638,000 | 7,878,597 | ||||
Washington Prime Group L.P. 6.45%, 8/15/2024 (f)
|
2,276,000 | 1,482,359 | ||||
XHR L.P.: | ||||||
4.88%, 6/1/2029 (a)
|
4,001,000 | 4,131,033 | ||||
6.38%, 8/15/2025 (a)
|
4,634,000 | 4,931,688 | ||||
374,834,687 | ||||||
RETAIL — 4.6% | ||||||
1011778 BC ULC/New Red Finance, Inc.: | ||||||
3.50%, 2/15/2029 (a)
|
6,159,000 | 6,087,740 | ||||
3.88%, 1/15/2028 (a)
|
12,741,500 | 12,900,769 | ||||
4.00%, 10/15/2030 (a)
|
23,293,000 | 22,539,937 | ||||
4.25%, 5/15/2024 (a)
|
7,010,000 | 7,089,283 | ||||
4.38%, 1/15/2028 (a)
|
8,174,000 | 8,295,629 | ||||
5.75%, 4/15/2025 (a)
|
4,987,000 | 5,281,333 | ||||
Ambience Merger Sub, Inc. 7.13%, 7/15/2029 (a) (d)
|
4,997,000 | 5,042,123 | ||||
Carvana Co.: | ||||||
5.50%, 4/15/2027 (a) (b)
|
5,744,000 | 5,929,416 |
Security Description | Principal
Amount |
Value | |||
5.63%, 10/1/2025 (a)
|
$ 3,849,000 | $ 4,001,651 | |||
5.88%, 10/1/2028 (a) (b)
|
5,091,000 | 5,355,325 | |||
CEC Entertainment LLC 6.75%, 5/1/2026 (a)
|
6,388,000 | 6,551,533 | |||
Dave & Buster's, Inc. 7.63%, 11/1/2025 (a)
|
4,994,000 | 5,371,846 | |||
eG Global Finance PLC: | |||||
6.75%, 2/7/2025 (a)
|
5,688,000 | 5,877,410 | |||
8.50%, 10/30/2025 (a)
|
6,670,000 | 7,047,722 | |||
Ferrellgas L.P./Ferrellgas Finance Corp.: | |||||
5.38%, 4/1/2026 (a)
|
5,718,000 | 5,669,340 | |||
5.88%, 4/1/2029 (a)
|
7,664,000 | 7,572,185 | |||
FirstCash, Inc. 4.63%, 9/1/2028 (a)
|
4,381,000 | 4,580,160 | |||
Gap, Inc.: | |||||
8.38%, 5/15/2023 (a) (b)
|
4,344,000 | 4,889,737 | |||
8.63%, 5/15/2025 (a)
|
7,552,000 | 8,282,052 | |||
8.88%, 5/15/2027 (a) (b)
|
9,434,000 | 10,915,798 | |||
Golden Nugget, Inc.: | |||||
6.75%, 10/15/2024 (a)
|
11,142,000 | 11,222,891 | |||
8.75%, 10/1/2025 (a) (b)
|
1,702,000 | 1,795,116 | |||
Group 1 Automotive, Inc. 4.00%, 8/15/2028 (a)
|
5,970,000 | 6,073,281 | |||
IRB Holding Corp. 7.00%, 6/15/2025 (a)
|
5,886,000 | 6,355,585 | |||
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell
of America LLC 4.75%, 6/1/2027 (a)
|
6,669,000 | 6,973,373 | |||
L Brands, Inc.: | |||||
5.25%, 2/1/2028 (b)
|
4,046,000 | 4,537,225 | |||
6.63%, 10/1/2030 (a)
|
8,478,000 | 9,806,503 | |||
7.50%, 6/15/2029 (b)
|
4,354,000 | 5,126,966 | |||
9.38%, 7/1/2025 (a)
|
4,273,000 | 5,519,819 | |||
LBM Acquisition LLC 6.25%, 1/15/2029 (a)
|
6,674,000 | 6,724,589 | |||
LCM Investments Holdings II LLC 4.88%, 5/1/2029 (a)
|
5,098,000 | 5,227,132 | |||
Lithia Motors, Inc.: | |||||
3.88%, 6/1/2029 (a)
|
7,168,000 | 7,424,256 | |||
4.38%, 1/15/2031 (a)
|
3,729,000 | 3,994,766 | |||
LSF9 Atlantis Holdings LLC/Victra Finance
Corp. 7.75%, 2/15/2026 (a)
|
5,961,000 | 6,169,695 |
Security Description | Principal
Amount |
Value | |||
Macy's Retail Holdings LLC 5.88%, 4/1/2029 (a) (b)
|
$ 3,404,000 | $ 3,658,857 | |||
Macy's, Inc. 8.38%, 6/15/2025 (a)
|
11,700,000 | 12,882,402 | |||
Magic Mergeco, Inc.: | |||||
5.25%, 5/1/2028 (a)
|
7,977,000 | 8,190,544 | |||
7.88%, 5/1/2029 (a) (b)
|
12,332,000 | 12,706,769 | |||
Murphy Oil USA, Inc.: | |||||
3.75%, 2/15/2031 (a)
|
4,134,000 | 4,087,864 | |||
4.75%, 9/15/2029
|
5,819,000 | 6,121,937 | |||
NMG Holding Co., Inc./Neiman Marcus Group
LLC 7.13%, 4/1/2026 (a)
|
9,209,000 | 9,830,055 | |||
Party City Holdings, Inc. 8.75%, 2/15/2026 (a) (b)
|
7,449,000 | 7,972,516 | |||
Penske Automotive Group, Inc.: | |||||
3.50%, 9/1/2025 (b)
|
3,931,000 | 4,071,297 | |||
3.75%, 6/15/2029 (b)
|
4,873,000 | 4,891,566 | |||
PetSmart, Inc./PetSmart Finance Corp.: | |||||
4.75%, 2/15/2028 (a)
|
10,982,000 | 11,404,148 | |||
7.75%, 2/15/2029 (a)
|
9,593,000 | 10,580,695 | |||
QVC, Inc.: | |||||
4.38%, 9/1/2028
|
4,183,000 | 4,269,463 | |||
WI, 4.75%, 2/15/2027
|
5,003,000 | 5,313,536 | |||
Rite Aid Corp.: | |||||
7.50%, 7/1/2025 (a)
|
6,840,000 | 6,941,506 | |||
8.00%, 11/15/2026 (a)
|
8,423,000 | 8,549,682 | |||
Specialty Building Products Holdings LLC/SBP
Finance Corp. 6.38%, 9/30/2026 (a)
|
6,080,000 | 6,375,245 | |||
SRS Distribution, Inc. 4.63%, 7/1/2028 (a)
|
5,456,000 | 5,581,051 | |||
Staples, Inc.: | |||||
7.50%, 4/15/2026 (a)
|
16,478,000 | 17,073,021 | |||
10.75%, 4/15/2027 (a) (b)
|
8,763,000 | 8,938,085 | |||
Suburban Propane Partners L.P./Suburban Energy
Finance Corp. 5.00%, 6/1/2031 (a)
|
4,742,000 | 4,850,165 | |||
Superior Plus L.P./Superior General Partner,
Inc. 4.50%, 3/15/2029 (a)
|
5,223,000 | 5,378,802 | |||
Victoria's Secret & Co. 4.63%, 7/15/2029
|
4,156,000 | 4,159,865 | |||
White Cap Buyer LLC 6.88%, 10/15/2028 (a) (b)
|
5,441,000 | 5,804,296 |
Security Description | Principal
Amount |
Value | ||||
Yum! Brands, Inc.: | ||||||
3.63%, 3/15/2031
|
$ 8,366,000 | $ 8,358,471 | ||||
4.63%, 1/31/2032 (b)
|
10,283,000 | 10,806,405 | ||||
4.75%, 1/15/2030 (a) (b)
|
6,372,000 | 6,894,313 | ||||
7.75%, 4/1/2025 (a)
|
4,559,000 | 4,968,900 | ||||
446,893,642 | ||||||
SEMICONDUCTORS — 0.3% | ||||||
Amkor Technology, Inc. 6.63%, 9/15/2027 (a)
|
4,572,000 | 4,930,033 | ||||
Microchip Technology, Inc. 4.25%, 9/1/2025
|
9,232,000 | 9,696,277 | ||||
ON Semiconductor Corp. 3.88%, 9/1/2028 (a)
|
6,030,000 | 6,213,794 | ||||
Qorvo, Inc.: | ||||||
3.38%, 4/1/2031 (a)
|
4,467,000 | 4,649,656 | ||||
4.38%, 10/15/2029
|
6,337,000 | 6,911,703 | ||||
32,401,463 | ||||||
SOFTWARE — 2.0% | ||||||
Black Knight InfoServ LLC 3.63%, 9/1/2028 (a)
|
6,553,000 | 6,527,968 | ||||
Boxer Parent Co., Inc. 7.13%, 10/2/2025 (a)
|
6,124,000 | 6,554,456 | ||||
BY Crown Parent LLC/BY Bond Finance,
Inc. 4.25%, 1/31/2026 (a)
|
5,984,000 | 6,266,026 | ||||
Camelot Finance SA 4.50%, 11/1/2026 (a)
|
5,847,000 | 6,113,682 | ||||
CDK Global, Inc.: | ||||||
4.88%, 6/1/2027
|
3,302,000 | 3,498,007 | ||||
5.25%, 5/15/2029 (a)
|
3,283,000 | 3,581,261 | ||||
Change Healthcare Holdings LLC/Change Healthcare
Finance, Inc. 5.75%, 3/1/2025 (a)
|
3,729,000 | 3,788,328 | ||||
Clarivate Science Holdings Corp.: | ||||||
3.88%, 6/30/2028 (a)
|
8,284,000 | 8,330,308 | ||||
4.88%, 6/30/2029 (a)
|
9,655,000 | 9,906,995 | ||||
Elastic NV 4.13%, 7/15/2029
|
3,175,000 | 3,176,619 | ||||
J2 Global, Inc. 4.63%, 10/15/2030 (a)
|
6,575,000 | 6,805,059 | ||||
Marble II Pte, Ltd. Series REGS, 5.30%, 6/20/2022 (b)
|
1,526,000 | 1,526,656 |
Security Description | Principal
Amount |
Value | ||||
MicroStrategy, Inc. 6.13%, 6/15/2028 (a) (b)
|
$ 4,298,000 | $ 4,294,905 | ||||
MSCI, Inc.: | ||||||
3.63%, 9/1/2030 (a)
|
6,943,000 | 7,111,993 | ||||
3.63%, 11/1/2031 (a)
|
5,680,000 | 5,840,006 | ||||
3.88%, 2/15/2031 (a)
|
7,745,000 | 8,030,713 | ||||
4.00%, 11/15/2029 (a)
|
7,250,000 | 7,648,532 | ||||
5.38%, 5/15/2027 (a)
|
5,061,000 | 5,393,660 | ||||
Nuance Communications, Inc. 5.63%, 12/15/2026
|
3,749,960 | 3,923,433 | ||||
Open Text Corp. 3.88%, 2/15/2028 (a)
|
8,234,000 | 8,366,814 | ||||
Open Text Holdings, Inc. 4.13%, 2/15/2030 (a)
|
7,423,000 | 7,564,557 | ||||
Playtika Holding Corp. 4.25%, 3/15/2029 (a)
|
5,547,000 | 5,552,381 | ||||
PTC, Inc.: | ||||||
3.63%, 2/15/2025 (a)
|
2,562,000 | 2,638,501 | ||||
4.00%, 2/15/2028 (a)
|
4,283,000 | 4,422,711 | ||||
Rackspace Technology Global, Inc.: | ||||||
3.50%, 2/15/2028 (a)
|
4,318,000 | 4,177,535 | ||||
5.38%, 12/1/2028 (a) (b)
|
5,222,000 | 5,359,077 | ||||
Rocket Software, Inc. 6.50%, 2/15/2029 (a)
|
4,812,000 | 4,771,675 | ||||
SS&C Technologies, Inc. 5.50%, 9/30/2027 (a)
|
16,835,000 | 17,857,558 | ||||
Twilio, Inc.: | ||||||
3.63%, 3/15/2029
|
4,543,000 | 4,634,996 | ||||
3.88%, 3/15/2031
|
4,310,000 | 4,427,060 | ||||
Veritas US, Inc./Veritas Bermuda, Ltd. 7.50%, 9/1/2025 (a)
|
14,077,000 | 14,653,172 | ||||
192,744,644 | ||||||
TELECOMMUNICATIONS — 6.0% | ||||||
Altice France Holding SA: | ||||||
6.00%, 2/15/2028 (a) (b)
|
10,493,000 | 10,430,357 | ||||
10.50%, 5/15/2027 (a)
|
13,877,000 | 15,415,959 | ||||
Altice France SA: | ||||||
5.13%, 7/15/2029 (a)
|
19,552,000 | 19,775,479 | ||||
5.50%, 1/15/2028 (a)
|
9,362,000 | 9,689,670 | ||||
7.38%, 5/1/2026 (a)
|
200 | 208 | ||||
8.13%, 2/1/2027 (a)
|
15,992,000 | 17,411,450 |
Security Description | Principal
Amount |
Value | |||
Avanti Communications Group PLC PIK 9.00%, 10/1/2022 (a)
|
$ 1,128,301 | $ 189,667 | |||
Avaya, Inc. 6.13%, 9/15/2028 (a) (b)
|
9,359,000 | 10,017,218 | |||
Cincinnati Bell, Inc. 7.00%, 7/15/2024 (a)
|
5,409,000 | 5,549,580 | |||
CommScope Technologies LLC 5.00%, 3/15/2027 (a) (b)
|
4,941,000 | 5,053,309 | |||
CommScope, Inc.: | |||||
5.50%, 3/1/2024 (a)
|
10,498,000 | 10,808,321 | |||
6.00%, 3/1/2026 (a)
|
12,943,000 | 13,666,384 | |||
7.13%, 7/1/2028 (a) (b)
|
5,821,000 | 6,321,490 | |||
8.25%, 3/1/2027 (a)
|
9,065,000 | 9,696,468 | |||
Connect Finco S.a.r.l./Connect US Finco
LLC 6.75%, 10/1/2026 (a)
|
17,667,000 | 18,716,066 | |||
Consolidated Communications, Inc. 6.50%, 10/1/2028 (a) (b)
|
7,549,000 | 8,109,664 | |||
Frontier Communications Holdings LLC: | |||||
5.00%, 5/1/2028 (a)
|
13,262,000 | 13,717,682 | |||
5.88%, 10/15/2027 (a) (b)
|
8,960,000 | 9,603,686 | |||
5.88%, 11/1/2029
|
6,696,000 | 6,821,014 | |||
6.75%, 5/1/2029 (a) (b)
|
8,367,000 | 8,901,902 | |||
GTT Communications, Inc. 7.88%, 12/31/2024 (a)
|
3,530,000 | 365,002 | |||
Hughes Satellite Systems Corp.: | |||||
5.25%, 8/1/2026
|
6,916,000 | 7,761,689 | |||
6.63%, 8/1/2026 (b)
|
7,482,000 | 8,385,900 | |||
Intrado Corp. 8.50%, 10/15/2025 (a) (b)
|
7,670,000 | 7,493,283 | |||
Level 3 Financing, Inc.: | |||||
3.63%, 1/15/2029 (a)
|
7,731,000 | 7,469,847 | |||
3.75%, 7/15/2029 (a)
|
8,157,000 | 7,932,275 | |||
4.25%, 7/1/2028 (a)
|
9,784,000 | 9,928,216 | |||
4.63%, 9/15/2027 (a)
|
8,167,000 | 8,474,161 | |||
LogMeIn, Inc. 5.50%, 9/1/2027 (a)
|
9,919,000 | 10,282,829 | |||
Lumen Technologies Inc Series Y, 7.50%, 4/1/2024 (b)
|
176,000 | 197,622 | |||
Lumen Technologies, Inc.: | |||||
4.00%, 2/15/2027 (a)
|
11,044,000 | 11,265,211 | |||
5.13%, 12/15/2026 (a) (b)
|
10,765,000 | 11,184,620 | |||
5.38%, 6/15/2029 (a)
|
9,471,000 | 9,625,283 |
Security Description | Principal
Amount |
Value | |||
4.50%, 1/15/2029 (a)
|
$ 10,529,000 | $ 10,253,877 | |||
Nokia Oyj 4.38%, 6/12/2027 (b)
|
2,900,000 | 3,201,368 | |||
Plantronics, Inc. 4.75%, 3/1/2029 (a) (b)
|
4,613,000 | 4,575,312 | |||
QualityTech L.P./QTS Finance Corp. 3.88%, 10/1/2028 (a)
|
4,047,000 | 4,327,295 | |||
Sprint Corp. 7.63%, 3/1/2026
|
12,648,000 | 15,472,804 | |||
Switch, Ltd.: | |||||
3.75%, 9/15/2028 (a)
|
4,929,000 | 4,982,480 | |||
4.13%, 6/15/2029 (a)
|
4,305,000 | 4,413,271 | |||
Telesat Canada/Telesat LLC: | |||||
5.63%, 12/6/2026 (a)
|
4,341,000 | 4,355,673 | |||
6.50%, 10/15/2027 (a) (b)
|
5,887,000 | 5,609,134 | |||
T-Mobile USA, Inc.: | |||||
2.25%, 2/15/2026
|
8,876,000 | 8,953,399 | |||
2.25%, 2/15/2026 (a)
|
6,465,000 | 6,521,310 | |||
2.63%, 4/15/2026 (b)
|
10,185,000 | 10,414,264 | |||
2.63%, 2/15/2029
|
7,806,500 | 7,711,261 | |||
2.88%, 2/15/2031
|
8,319,000 | 8,250,285 | |||
3.38%, 4/15/2029
|
10,769,000 | 11,135,684 | |||
3.38%, 4/15/2029 (a)
|
8,634,000 | 8,920,217 | |||
3.50%, 4/15/2031
|
10,964,000 | 11,329,978 | |||
3.50%, 4/15/2031 (a)
|
8,737,000 | 9,016,584 | |||
4.50%, 2/1/2026
|
8,057,000 | 8,249,321 | |||
4.75%, 2/1/2028
|
12,639,000 | 13,534,726 | |||
5.38%, 4/15/2027
|
3,465,000 | 3,690,294 | |||
VEON Holdings B.V.: | |||||
3.38%, 11/25/2027 (a)
|
10,431,000 | 10,486,076 | |||
4.00%, 4/9/2025 (a)
|
5,498,000 | 5,797,091 | |||
Series REGS, 4.95%, 6/16/2024
|
7,707,000 | 8,310,381 | |||
Series REGS, 7.25%, 4/26/2023
|
3,362,000 | 3,651,838 | |||
ViaSat, Inc.: | |||||
5.63%, 9/15/2025 (a)
|
6,432,000 | 6,552,986 | |||
5.63%, 4/15/2027 (a) (b)
|
7,129,000 | 7,440,466 | |||
Vmed O2 UK Financing I PLC: | |||||
4.25%, 1/31/2031 (a)
|
10,767,000 | 10,590,852 | |||
4.75%, 7/15/2031 (a) (d)
|
7,537,000 | 7,648,171 | |||
Vodafone Group PLC: | |||||
5 year USD Swap + 4.87%, 7.00%, 4/4/2079
(c)
|
11,219,000 | 13,585,536 | |||
5 year CMT + 2.45%, 3.25%, 6/4/2081 (c)
|
4,261,000 | 4,285,288 |
Security Description | Principal
Amount |
Value | ||||
5 year CMT + 2.77%, 4.13%, 6/4/2081 (c)
|
$ 8,393,000 | $ 8,367,905 | ||||
Windstream Escrow LLC/Windstream Escrow Finance
Corp. REGS, 7.75%, 8/15/2028 (a) (b)
|
11,397,000 | 11,797,149 | ||||
Zayo Group Holdings,Inc.: | ||||||
4.00%, 3/1/2027 (a)
|
12,196,000 | 12,115,750 | ||||
6.13%, 3/1/2028 (a)
|
8,632,000 | 8,813,963 | ||||
584,623,501 | ||||||
TOYS/GAMES/HOBBIES — 0.2% | ||||||
Everi Holdings, Inc. 5.00%, 7/15/2029
|
585,000 | 599,602 | ||||
Mattel, Inc.: | ||||||
3.38%, 4/1/2026 (a)
|
4,545,000 | 4,711,756 | ||||
3.75%, 4/1/2029 (a) (b)
|
4,681,000 | 4,866,695 | ||||
5.88%, 12/15/2027 (a)
|
5,887,000 | 6,418,478 | ||||
16,596,531 | ||||||
TRANSPORTATION — 0.4% | ||||||
Altera Infrastructure L.P./Teekay Offshore
Finance Corp. 8.50%, 7/15/2023 (a)
|
4,719,000 | 4,318,451 | ||||
Cargo Aircraft Management, Inc. 4.75%, 2/1/2028 (a)
|
6,260,000 | 6,409,677 | ||||
Watco Cos. LLC/Watco Finance Corp. 6.50%, 6/15/2027 (a)
|
4,924,000 | 5,282,763 | ||||
XPO Logistics, Inc.: | ||||||
6.13%, 9/1/2023 (a)
|
4,648,000 | 4,684,208 | ||||
6.25%, 5/1/2025 (a)
|
9,607,000 | 10,220,887 | ||||
6.75%, 8/15/2024 (a)
|
5,901,000 | 6,139,341 | ||||
37,055,327 | ||||||
TRUCKING & LEASING — 0.1% | ||||||
Fortress Transportation and Infrastructure Investors LLC: | ||||||
5.50%, 5/1/2028 (a)
|
4,069,000 | 4,238,474 | ||||
6.50%, 10/1/2025 (a)
|
7,200,000 | 7,476,120 | ||||
11,714,594 | ||||||
TOTAL CORPORATE BONDS & NOTES (Cost
$9,578,789,475)
|
9,552,438,591 |
Shares | |||
COMMON STOCKS — 0.0% (e) | |||
DIVERSIFIED TELECOMMUNICATION SERVICES — 0.0% (e) | |||
Avanti Communications Group PLC (g)
|
9,671,825 | — |
Security Description | Shares | Value | ||||
ENERGY EQUIPMENT & SERVICES — 0.0% (e) | ||||||
Weatherford International PLC (h)
|
50,978 | $ 927,800 | ||||
HOUSEHOLD PRODUCTS — 0.0% (e) | ||||||
Cenveo Enterprises, Inc. (g)
|
20,138 | 201,381 | ||||
OIL, GAS & CONSUMABLE FUELS — 0.0% (e) | ||||||
Amplify Energy Corp. (h)
|
136,015 | 550,861 | ||||
EP Energy Corp. (h)
|
5,918 | 579,964 | ||||
Gulfport Energy Operating Corp. (h)
|
11,877 | 768,442 | ||||
1,899,267 | ||||||
TRANSPORTATION INFRASTRUCTURE — 0.0% (e) | ||||||
ATD New Holdings, Inc. (b) (h)
|
35,050 | 1,892,700 | ||||
TOTAL COMMON STOCKS (Cost
$8,797,388)
|
4,921,148 | |||||
SHORT-TERM INVESTMENTS — 6.4% | ||||||
State Street Institutional Liquid Reserves Fund,
Premier Class 0.05% (i) (j)
|
53,036,212 | 53,052,122 | ||||
State Street Navigator Securities Lending
Portfolio II (k) (l)
|
564,317,081 | 564,317,081 | ||||
TOTAL SHORT-TERM INVESTMENTS (Cost
$617,365,750)
|
617,369,203 | |||||
TOTAL INVESTMENTS — 104.5% (Cost
$10,204,952,613)
|
10,174,728,942 | |||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (4.5)%
|
(435,996,121) | |||||
NET ASSETS — 100.0%
|
$ 9,738,732,821 |
(a) | Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 74.0% of net assets as of June 30, 2021, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(b) | All or a portion of the shares of the security are on loan at June 30, 2021. |
(c) | Variable Rate Security - Interest rate shown is rate in effect at June 30, 2021. For securities based on a published reference rate and spread, the reference rate and spread are indicated in the description above. |
(d) | When-issued security. |
(e) | Amount is less than 0.05% of net assets. |
(f) | Security is currently in default and/or issuer is in bankruptcy. |
(g) | Fair valued as determined in good faith by the Trust's Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs. As of June 30, 2021, total aggregate fair value of the securities is $201,381, representing less than 0.05% of the Fund's net assets. |
(h) | Non-income producing security. |
(i) | The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended June 30, 2021 are shown in the Affiliate Table below. |
(j) | The rate shown is the annualized seven-day yield at June 30, 2021. |
(k) | The Fund invested in an affiliated entity. Amounts related to these transactions during the period ended June 30, 2021 are shown in the Affiliate Table below. |
(l) | Investment of cash collateral for securities loaned. |
CMT | Constant Maturity Treasury |
GMTN | Global Medium Term Note |
LIBOR | London Interbank Offered Rate |
MTN | Medium Term Note |
PIK | Payment in Kind |
REIT | Real Estate Investment Trust |
SOFR | Secured Overnight Financing Rate |
Description | Level
1 – Quoted Prices |
Level
2 – Other Significant Observable Inputs |
Level
3 – Significant Unobservable Inputs |
Total | ||||
ASSETS: | ||||||||
INVESTMENTS: | ||||||||
Corporate Bonds & Notes
|
$ — | $9,552,438,591 | $ — | $ 9,552,438,591 | ||||
Common Stocks
|
4,139,803 | 579,964 | 201,381 | 4,921,148 | ||||
Short-Term Investments
|
617,369,203 | — | — | 617,369,203 | ||||
TOTAL INVESTMENTS
|
$621,509,006 | $9,553,018,555 | $201,381 | $10,174,728,942 |
Number
of Shares Held at 6/30/20 |
Value
at 6/30/20 |
Cost
of Purchases |
Proceeds
from Shares Sold |
Realized
Gain (Loss) |
Change
in Unrealized Appreciation/ Depreciation |
Number
of Shares Held at 6/30/21 |
Value
at 6/30/21 |
Dividend
Income | |||||||||
State Street Institutional Liquid Reserves Fund,
Premier Class
|
81,385,275 | $ 81,417,830 | $2,342,623,142 | $2,370,977,561 | $(14,683) | $3,394 | 53,036,212 | $ 53,052,122 | $ 81,096 | ||||||||
State Street Navigator Securities Lending
Portfolio II
|
1,224,907,425 | 1,224,907,425 | 2,478,974,517 | 3,139,564,861 | — | — | 564,317,081 | 564,317,081 | 2,851,021 | ||||||||
Total
|
$1,306,325,255 | $4,821,597,659 | $5,510,542,422 | $(14,683) | $3,394 | $617,369,203 | $ 2,932,117 |
Security Description | Principal
Amount |
Value | ||||
CORPORATE BONDS & NOTES — 96.7% | ||||||
ADVERTISING — 0.4% | ||||||
Clear Channel International BV 6.63%, 8/1/2025 (a)
|
$ 6,815,000 | $ 7,136,395 | ||||
MDC Partners, Inc. 7.50%, 5/1/2024 (a) (b)
|
9,261,000 | 9,393,062 | ||||
Outfront Media Capital LLC/Outfront Media Capital
Corp. 6.25%, 6/15/2025 (a)
|
3,321,000 | 3,524,611 | ||||
20,054,068 | ||||||
AEROSPACE & DEFENSE — 2.5% | ||||||
Howmet Aerospace, Inc.: | ||||||
5.13%, 10/1/2024 (c)
|
6,345,000 | 7,003,611 | ||||
6.88%, 5/1/2025
|
11,268,000 | 13,117,530 | ||||
Rolls-Royce PLC 3.63%, 10/14/2025 (a)
|
8,395,000 | 8,528,313 | ||||
Spirit AeroSystems, Inc.: | ||||||
5.50%, 1/15/2025 (a)
|
5,004,000 | 5,322,154 | ||||
7.50%, 4/15/2025 (a)
|
13,166,000 | 14,079,194 | ||||
SSL Robotics LLC 9.75%, 12/31/2023 (a)
|
3,409,000 | 3,760,161 | ||||
TransDigm UK Holdings PLC 6.88%, 5/15/2026
|
105,000 | 110,776 | ||||
TransDigm, Inc.: | ||||||
6.25%, 3/15/2026 (a)
|
39,183,000 | 41,330,620 | ||||
6.38%, 6/15/2026
|
3,784,000 | 3,917,272 | ||||
8.00%, 12/15/2025 (a)
|
9,706,000 | 10,485,198 | ||||
Triumph Group, Inc.: | ||||||
6.25%, 9/15/2024 (a) (c)
|
7,052,000 | 7,160,319 | ||||
7.75%, 8/15/2025
|
3,036,000 | 3,124,833 | ||||
8.88%, 6/1/2024 (a)
|
8,222,000 | 9,186,934 | ||||
127,126,915 | ||||||
AIRLINES — 3.1% | ||||||
American Airlines 2013-2 Pass Through
Trust Class A, 4.95%, 1/15/2023
|
3,540,445 | 3,545,649 | ||||
American Airlines Group, Inc.: | ||||||
3.75%, 3/1/2025 (a) (c)
|
5,913,000 | 5,446,701 | ||||
5.00%, 6/1/2022 (a) (c)
|
9,011,000 | 9,018,119 | ||||
American Airlines, Inc. 11.75%, 7/15/2025 (a)
|
22,987,000 | 28,844,317 | ||||
American Airlines, Inc./AAdvantage Loyalty IP,
Ltd. 5.50%, 4/20/2026 (a)
|
26,766,000 | 28,415,856 |
Security Description | Principal
Amount |
Value | ||||
Delta Air Lines, Inc.: | ||||||
2.90%, 10/28/2024 (c)
|
$ 7,080,000 | $ 7,206,095 | ||||
3.63%, 3/15/2022
|
15,464,000 | 15,678,949 | ||||
3.80%, 4/19/2023
|
175,000 | 181,571 | ||||
7.38%, 1/15/2026 (c)
|
12,385,000 | 14,535,779 | ||||
Hawaiian Brand Intellectual Property,
Ltd./HawaiianMiles Loyalty, Ltd. 5.75%, 1/20/2026 (a)
|
9,492,345 | 10,187,944 | ||||
Spirit Loyalty Cayman, Ltd./Spirit IP Cayman,
Ltd. 8.00%, 9/20/2025 (a)
|
3,681,999 | 4,172,957 | ||||
United Airlines 2020-1 Class B Pass Through
Trust Series 2020-1, Class B, 4.88%, 1/15/2026
|
2,911 | 3,088 | ||||
United Airlines Holdings, Inc.: | ||||||
4.25%, 10/1/2022
|
4,137,900 | 4,237,334 | ||||
4.88%, 1/15/2025 (c)
|
2,936,000 | 3,053,000 | ||||
United Airlines, Inc. 4.38%, 4/15/2026 (a)
|
18,679,000 | 19,337,061 | ||||
153,864,420 | ||||||
APPAREL — 0.5% | ||||||
Hanesbrands, Inc.: | ||||||
4.63%, 5/15/2024 (a)
|
7,050,000 | 7,493,163 | ||||
4.88%, 5/15/2026 (a) (c)
|
7,150,000 | 7,723,287 | ||||
5.38%, 5/15/2025 (a)
|
4,746,000 | 5,023,024 | ||||
Michael Kors USA, Inc. 4.50%, 11/1/2024 (a)
|
100,000 | 105,926 | ||||
Under Armour, Inc. 3.25%, 6/15/2026 (c)
|
2,230,000 | 2,312,265 | ||||
William Carter Co. 5.50%, 5/15/2025 (a)
|
3,279,000 | 3,466,755 | ||||
26,124,420 | ||||||
AUTO MANUFACTURERS — 3.3% | ||||||
Aston Martin Capital Holdings, Ltd. PIK 10.50%, 11/30/2025 (a) (c)
|
8,278,000 | 9,219,374 | ||||
Ford Motor Co.: | ||||||
8.50%, 4/21/2023
|
15,113,000 | 16,865,352 | ||||
9.00%, 4/22/2025
|
11,272,000 | 13,890,035 | ||||
Ford Motor Credit Co. LLC: | ||||||
2.98%, 8/3/2022
|
5,729,000 | 5,807,831 | ||||
3.09%, 1/9/2023
|
8,288,000 | 8,455,749 | ||||
3.10%, 5/4/2023
|
2,914,000 | 2,973,096 | ||||
3.22%, 1/9/2022
|
769,000 | 776,867 |
Security Description | Principal
Amount |
Value | ||||
3.34%, 3/28/2022
|
$ 1,804,000 | $ 1,829,761 | ||||
3.35%, 11/1/2022
|
5,316,000 | 5,445,923 | ||||
3.37%, 11/17/2023
|
263,000 | 272,820 | ||||
3.38%, 11/13/2025
|
4,139,000 | 4,291,977 | ||||
3.66%, 9/8/2024
|
2,422,000 | 2,538,426 | ||||
3.81%, 10/12/2021
|
5,084,000 | 5,122,130 | ||||
3.81%, 1/9/2024
|
2,436,000 | 2,545,839 | ||||
4.06%, 11/1/2024
|
1,085,000 | 1,153,778 | ||||
4.13%, 8/4/2025
|
4,915,000 | 5,245,779 | ||||
4.14%, 2/15/2023
|
2,279,000 | 2,360,907 | ||||
4.25%, 9/20/2022
|
6,290,000 | 6,503,420 | ||||
4.38%, 8/6/2023
|
125,000 | 131,970 | ||||
4.69%, 6/9/2025
|
1,601,000 | 1,732,474 | ||||
5.13%, 6/16/2025
|
5,389,000 | 5,932,804 | ||||
5.58%, 3/18/2024
|
4,916,000 | 5,384,249 | ||||
5.60%, 1/7/2022
|
8,496,000 | 8,675,351 | ||||
5.88%, 8/2/2021
|
3,027,000 | 3,038,200 | ||||
Series GMTN, 4.39%, 1/8/2026
|
2,134,000 | 2,303,440 | ||||
Jaguar Land Rover Automotive PLC: | ||||||
5.63%, 2/1/2023 (a) (c)
|
4,198,000 | 4,213,743 | ||||
7.75%, 10/15/2025 (a)
|
5,674,000 | 6,228,520 | ||||
JB Poindexter & Co., Inc. 7.13%, 4/15/2026 (a)
|
1,791,000 | 1,892,227 | ||||
Navistar International Corp.: | ||||||
6.63%, 11/1/2025 (a)
|
10,043,000 | 10,375,725 | ||||
9.50%, 5/1/2025 (a) (c)
|
4,122,000 | 4,415,693 | ||||
Stellantis NV 5.25%, 4/15/2023
|
3,056,000 | 3,295,132 | ||||
Tesla, Inc. 5.30%, 8/15/2025 (a)
|
14,625,000 | 15,108,941 | ||||
168,027,533 | ||||||
AUTO PARTS & EQUIPMENT — 1.2% | ||||||
Adient US LLC 9.00%, 4/15/2025 (a)
|
3,775,000 | 4,154,161 | ||||
American Axle & Manufacturing, Inc.: | ||||||
6.25%, 4/1/2025 (c)
|
7,922,000 | 8,194,041 | ||||
6.25%, 3/15/2026 (c)
|
4,149,000 | 4,278,781 | ||||
Clarios Global L.P. 6.75%, 5/15/2025 (a)
|
8,310,000 | 8,866,271 | ||||
Clarios Global L.P./Clarios US Finance
Co. 6.25%, 5/15/2026 (a)
|
3,872,000 | 4,123,951 |
Security Description | Principal
Amount |
Value | ||||
Dana Financing Luxembourg Sarl 5.75%, 4/15/2025 (a)
|
$ 3,655,000 | $ 3,770,864 | ||||
Goodyear Tire & Rubber Co.: | ||||||
5.00%, 5/31/2026 (c)
|
5,068,000 | 5,207,167 | ||||
9.50%, 5/31/2025
|
8,132,000 | 9,088,486 | ||||
ZF North America Capital, Inc.: | ||||||
4.50%, 4/29/2022 (a)
|
9,373,000 | 9,631,507 | ||||
4.75%, 4/29/2025 (a)
|
3,858,000 | 4,171,154 | ||||
61,486,383 | ||||||
BANKS — 1.9% | ||||||
CIT Group, Inc.: | ||||||
4.75%, 2/16/2024
|
4,469,000 | 4,843,815 | ||||
5.00%, 8/15/2022
|
12,155,000 | 12,698,693 | ||||
5.00%, 8/1/2023
|
10,889,000 | 11,771,989 | ||||
5.25%, 3/7/2025
|
8,186,000 | 9,212,852 | ||||
Commerzbank AG 8.13%, 9/19/2023 (a) (c)
|
5,368,000 | 6,101,161 | ||||
Deutsche Bank AG 4.50%, 4/1/2025 (c)
|
10,081,000 | 10,882,137 | ||||
Freedom Mortgage Corp.: | ||||||
6.63%, 1/15/2027 (a) (d)
|
5,370,000 | 5,404,743 | ||||
7.63%, 5/1/2026 (a)
|
4,076,000 | 4,238,999 | ||||
8.13%, 11/15/2024 (a)
|
5,809,000 | 5,999,884 | ||||
8.25%, 4/15/2025 (a)
|
258,000 | 269,288 | ||||
Intesa Sanpaolo SpA: | ||||||
5.02%, 6/26/2024 (a)
|
11,879,000 | 12,907,365 | ||||
5.71%, 1/15/2026 (a)
|
10,809,000 | 12,146,506 | ||||
96,477,432 | ||||||
BUILDING MATERIALS — 0.3% | ||||||
APi Group DE, Inc. 4.13%, 7/15/2029 (a)
|
2,125,000 | 2,114,906 | ||||
Forterra Finance LLC/FRTA Finance Corp. 6.50%, 7/15/2025 (a)
|
5,339,000 | 5,759,126 | ||||
Jeld-Wen, Inc. 4.63%, 12/15/2025 (a)
|
1,925,000 | 1,968,197 | ||||
Koppers, Inc. 6.00%, 2/15/2025 (a)
|
1,520,000 | 1,566,345 | ||||
PGT Escrow Issuer, Inc. 6.75%, 8/1/2026 (a)
|
1,075,000 | 1,133,018 | ||||
12,541,592 |
Security Description | Principal
Amount |
Value | ||||
CHEMICALS — 2.3% | ||||||
Ashland LLC 4.75%, 8/15/2022
|
$ 893,000 | $ 922,683 | ||||
CF Industries, Inc. 3.45%, 6/1/2023
|
6,492,000 | 6,788,555 | ||||
Chemours Co. 7.00%, 5/15/2025 (c)
|
4,549,000 | 4,692,566 | ||||
Consolidated Energy Finance SA: | ||||||
6.50%, 5/15/2026 (a)
|
4,708,000 | 4,765,155 | ||||
6.88%, 6/15/2025 (a)
|
6,812,000 | 6,936,523 | ||||
Cornerstone Chemical Co. 6.75%, 8/15/2024 (a) (c)
|
5,468,000 | 5,146,646 | ||||
CVR Partners L.P./CVR Nitrogen Finance
Corp. 9.25%, 6/15/2023 (a)
|
1,045,000 | 1,047,111 | ||||
Eurochem Finance DAC Series REGS, 5.50%, 3/13/2024
|
3,249,000 | 3,540,565 | ||||
GCP Applied Technologies, Inc. 5.50%, 4/15/2026 (a)
|
975,000 | 1,002,300 | ||||
INEOS Group Holdings SA 5.63%, 8/1/2024 (a)
|
5,001,000 | 5,018,404 | ||||
INEOS Quattro Finance 2 PLC 3.38%, 1/15/2026 (a)
|
6,654,000 | 6,721,205 | ||||
Kraton Polymers LLC/Kraton Polymers Capital
Corp. 4.25%, 12/15/2025 (a) (c)
|
2,079,000 | 2,120,351 | ||||
Neon Holdings, Inc. 10.13%, 4/1/2026 (a)
|
4,866,000 | 5,292,505 | ||||
OCI NV: | ||||||
4.63%, 10/15/2025 (a)
|
990,000 | 1,033,322 | ||||
5.25%, 11/1/2024 (a)
|
2,763,000 | 2,845,420 | ||||
Olin Corp. 9.50%, 6/1/2025 (a) (c)
|
6,265,000 | 7,805,814 | ||||
Rain CII Carbon LLC/CII Carbon Corp. 7.25%, 4/1/2025 (a)
|
7,195,000 | 7,428,262 | ||||
Rayonier AM Products, Inc.: | ||||||
5.50%, 6/1/2024 (a) (c)
|
3,155,000 | 3,034,037 | ||||
7.63%, 1/15/2026 (a)
|
11,737,000 | 12,235,940 | ||||
SPCM SA 4.88%, 9/15/2025 (a)
|
5,651,000 | 5,784,364 | ||||
TPC Group, Inc. 10.50%, 8/1/2024 (a)
|
9,699,000 | 9,109,398 | ||||
Trinseo Materials Operating SCA/Trinseo Materials
Finance, Inc. 5.38%, 9/1/2025 (a)
|
3,846,000 | 3,935,073 |
Security Description | Principal
Amount |
Value | ||||
Tronox, Inc. 6.50%, 5/1/2025 (a)
|
$ 6,303,000 | $ 6,688,807 | ||||
Venator Finance Sarl/Venator Materials
LLC 5.75%, 7/15/2025 (a)
|
4,480,000 | 4,417,370 | ||||
118,312,376 | ||||||
COAL — 0.3% | ||||||
Alliance Resource Operating Partners
L.P./Alliance Resource Finance Corp. 7.50%, 5/1/2025 (a) (c)
|
1,413,000 | 1,380,840 | ||||
Coronado Finance Pty, Ltd. 10.75%, 5/15/2026 (a) (c)
|
2,660,000 | 2,829,256 | ||||
Peabody Energy Corp. 6.38%, 3/31/2025 (a) (c)
|
5,591,000 | 4,118,443 | ||||
SunCoke Energy Partners L.P./SunCoke Energy
Partners Finance Corp. 7.50%, 6/15/2025 (a)
|
6,312,000 | 6,554,633 | ||||
14,883,172 | ||||||
COMMERCIAL SERVICES — 3.0% | ||||||
ADT Security Corp.: | ||||||
3.50%, 7/15/2022
|
12,079,100 | 12,321,407 | ||||
4.13%, 6/15/2023
|
3,309,000 | 3,481,961 | ||||
Ahern Rentals, Inc. 7.38%, 5/15/2023 (a) (c)
|
4,519,000 | 4,094,847 | ||||
Algeco Global Finance PLC 8.00%, 2/15/2023 (a)
|
4,023,000 | 4,149,161 | ||||
Allied Universal Holdco LLC/Allied Universal
Finance Corp. 6.63%, 7/15/2026 (a)
|
1,955,000 | 2,072,926 | ||||
APTIM Corp. 7.75%, 6/15/2025 (a)
|
120,000 | 105,218 | ||||
APX Group, Inc.: | ||||||
7.63%, 9/1/2023
|
2,828,000 | 2,905,487 | ||||
7.88%, 12/1/2022
|
5,708,000 | 5,729,234 | ||||
Avis Budget Car Rental LLC/Avis Budget Finance,
Inc. 5.25%, 3/15/2025 (a) (c)
|
1,048,000 | 1,066,675 | ||||
Brink's Co. 5.50%, 7/15/2025 (a)
|
2,037,000 | 2,162,601 | ||||
Cimpress PLC 7.00%, 6/15/2026 (a)
|
4,210,000 | 4,437,551 | ||||
CoreCivic, Inc. 8.25%, 4/15/2026
|
4,086,000 | 4,243,842 |
Security Description | Principal
Amount |
Value | ||||
IHS Markit, Ltd.: | ||||||
3.63%, 5/1/2024
|
$ 7,266,000 | $ 7,800,560 | ||||
4.00%, 3/1/2026 (a)
|
2,300,000 | 2,551,183 | ||||
4.13%, 8/1/2023
|
393,000 | 420,152 | ||||
4.75%, 2/15/2025 (a)
|
4,770,000 | 5,336,676 | ||||
5.00%, 11/1/2022 (a)
|
9,113,000 | 9,542,040 | ||||
Jaguar Holding Co. II/PPD Development
L.P. 4.63%, 6/15/2025 (a)
|
5,392,000 | 5,670,551 | ||||
Legends Hospitality Holding Co. LLC/Legends
Hospitality Co-Issuer, Inc. 5.00%, 2/1/2026 (a)
|
2,794,000 | 2,912,410 | ||||
Nielsen Co. Luxembourg SARL 5.00%, 2/1/2025 (a) (c)
|
7,569,000 | 7,784,565 | ||||
Prime Security Services Borrower LLC/Prime Finance, Inc.: | ||||||
5.25%, 4/15/2024 (a)
|
9,004,000 | 9,647,246 | ||||
5.75%, 4/15/2026 (a)
|
11,577,000 | 12,806,477 | ||||
Ritchie Bros Auctioneers, Inc. 5.38%, 1/15/2025 (a)
|
6,291,000 | 6,474,257 | ||||
Sabre GLBL, Inc.: | ||||||
7.38%, 9/1/2025 (a)
|
3,005,000 | 3,266,495 | ||||
9.25%, 4/15/2025 (a)
|
12,955,000 | 15,402,200 | ||||
Square, Inc. 2.75%, 6/1/2026 (a)
|
6,450,000 | 6,562,230 | ||||
Team Health Holdings, Inc. 6.38%, 2/1/2025 (a)
|
7,467,000 | 7,107,688 | ||||
150,055,640 | ||||||
COMPUTERS — 1.8% | ||||||
Dell International LLC/EMC Corp. 7.13%, 6/15/2024 (a)
|
16,513,000 | 16,936,889 | ||||
Diebold Nixdorf, Inc.: | ||||||
8.50%, 4/15/2024 (c)
|
3,396,000 | 3,475,432 | ||||
9.38%, 7/15/2025 (a)
|
9,386,000 | 10,397,905 | ||||
EMC Corp. 3.38%, 6/1/2023
|
7,737,000 | 8,029,536 | ||||
Exela Intermediate LLC/Exela Finance,
Inc. 10.00%, 7/15/2023 (a)
|
8,292,000 | 5,431,260 | ||||
NCR Corp. 8.13%, 4/15/2025 (a)
|
746,000 | 814,498 | ||||
Seagate HDD Cayman: | ||||||
4.75%, 1/1/2025 (c)
|
1,100,000 | 1,209,626 | ||||
4.88%, 3/1/2024
|
6,208,000 | 6,720,656 |
Security Description | Principal
Amount |
Value | ||||
Tempo Acquisition LLC/Tempo Acquisition Finance
Corp. 6.75%, 6/1/2025 (a)
|
$ 12,544,000 | $ 12,755,743 | ||||
Vericast Corp. 8.38%, 8/15/2022 (a) (c)
|
346,000 | 351,065 | ||||
Western Digital Corp. 4.75%, 2/15/2026 (c)
|
21,559,000 | 23,958,948 | ||||
90,081,558 | ||||||
COSMETICS/PERSONAL CARE — 0.6% | ||||||
Avon Products, Inc. 6.50%, 3/15/2023 (c)
|
6,100,000 | 6,565,613 | ||||
Coty, Inc.: | ||||||
5.00%, 4/15/2026 (a)
|
11,604,000 | 11,772,142 | ||||
6.50%, 4/15/2026 (a) (c)
|
3,803,000 | 3,850,689 | ||||
Oriflame Investment Holding PLC 5.13%, 5/4/2026 (a) (c)
|
3,492,000 | 3,588,065 | ||||
Revlon Consumer Products Corp. 6.25%, 8/1/2024
|
4,643,000 | 2,093,018 | ||||
27,869,527 | ||||||
DISTRIBUTION & WHOLESALE — 0.7% | ||||||
Avient Corp.: | ||||||
5.25%, 3/15/2023
|
1,628,000 | 1,742,302 | ||||
5.75%, 5/15/2025 (a)
|
8,034,000 | 8,500,856 | ||||
Core & Main L.P. 6.13%, 8/15/2025 (a)
|
2,344,000 | 2,390,880 | ||||
G-III Apparel Group, Ltd. 7.88%, 8/15/2025 (a) (c)
|
4,465,000 | 4,850,195 | ||||
KAR Auction Services, Inc. 5.13%, 6/1/2025 (a) (c)
|
8,959,000 | 9,191,307 | ||||
Performance Food Group, Inc. 5.50%, 6/1/2024 (a)
|
3,898,000 | 3,904,860 | ||||
Wolverine Escrow LLC 8.50%, 11/15/2024 (a)
|
5,264,000 | 5,132,137 | ||||
35,712,537 | ||||||
DIVERSIFIED FINANCIAL SERVICES — 4.1% | ||||||
Ally Financial, Inc. 5.75%, 11/20/2025 (c)
|
10,508,000 | 12,052,886 | ||||
Credit Acceptance Corp.: | ||||||
5.13%, 12/31/2024 (a)
|
3,196,000 | 3,318,055 | ||||
6.63%, 3/15/2026
|
1,332,000 | 1,407,298 | ||||
Curo Group Holdings Corp. 8.25%, 9/1/2025 (a)
|
6,838,000 | 7,104,067 |
Security Description | Principal
Amount |
Value | |||
Enact Holdings, Inc. 6.50%, 8/15/2025 (a)
|
$ 7,384,000 | $ 8,136,577 | |||
Enova International, Inc. 8.50%, 9/15/2025 (a)
|
923,000 | 956,782 | |||
Fairstone Financial, Inc. 7.88%, 7/15/2024 (a)
|
5,224,000 | 5,446,751 | |||
Finance of America Funding LLC 7.88%, 11/15/2025 (a)
|
4,619,000 | 4,624,820 | |||
FS Energy & Power Fund 7.50%, 8/15/2023 (a)
|
1,041,000 | 1,074,489 | |||
Global Aircraft Leasing Co., Ltd. 6.50%, 9/15/2024 (a)
|
16,404,100 | 16,451,672 | |||
goeasy, Ltd. 5.38%, 12/1/2024 (a)
|
3,082,000 | 3,191,411 | |||
Home Point Capital, Inc. 5.00%, 2/1/2026 (a) (c)
|
8,272,000 | 7,715,046 | |||
Icahn Enterprises L.P./Icahn Enterprises Finance
Corp. 6.75%, 2/1/2024
|
193,000 | 197,146 | |||
LD Holdings Group LLC 6.50%, 11/1/2025 (a)
|
3,678,000 | 3,760,203 | |||
Navient Corp.: | |||||
5.50%, 1/25/2023
|
4,197,000 | 4,424,897 | |||
5.88%, 10/25/2024
|
3,565,000 | 3,854,086 | |||
6.50%, 6/15/2022
|
10,839,000 | 11,302,367 | |||
6.75%, 6/25/2025
|
7,136,000 | 7,898,410 | |||
6.75%, 6/15/2026
|
5,519,000 | 6,159,370 | |||
7.25%, 9/25/2023
|
1,752,000 | 1,944,860 | |||
Series MTN, 6.13%, 3/25/2024
|
9,805,000 | 10,596,950 | |||
Series MTN, 7.25%, 1/25/2022
|
7,151,000 | 7,407,506 | |||
OneMain Finance Corp.: | |||||
3.50%, 1/15/2027
|
480,000 | 484,142 | |||
6.13%, 5/15/2022
|
8,386,000 | 8,731,755 | |||
6.13%, 3/15/2024
|
13,399,000 | 14,423,622 | |||
6.88%, 3/15/2025
|
16,046,000 | 18,107,590 | |||
7.13%, 3/15/2026
|
12,534,000 | 14,605,369 | |||
8.88%, 6/1/2025
|
1,562,000 | 1,730,962 | |||
PennyMac Financial Services, Inc. 5.38%, 10/15/2025 (a)
|
1,354,000 | 1,425,112 | |||
PHH Mortgage Corp. 7.88%, 3/15/2026 (a) (c)
|
5,891,000 | 6,085,521 | |||
SLM Corp. 4.20%, 10/29/2025
|
6,000 | 6,449 |
Security Description | Principal
Amount |
Value | ||||
TMX Finance LLC/TitleMax Finance Corp. 11.13%, 4/1/2023 (a)
|
$ 1,613,000 | $ 1,644,050 | ||||
United Wholesale Mortgage LLC 5.50%, 11/15/2025 (a)
|
5,685,000 | 5,885,396 | ||||
VistaJet Malta Finance PLC/XO Management Holding,
Inc. 10.50%, 6/1/2024 (a)
|
4,175,000 | 4,549,623 | ||||
206,705,240 | ||||||
ELECTRIC — 1.3% | ||||||
Calpine Corp. 5.25%, 6/1/2026 (a)
|
8,962,000 | 9,217,955 | ||||
DPL, Inc. 4.13%, 7/1/2025
|
5,654,000 | 6,061,993 | ||||
Drax Finco PLC 6.63%, 11/1/2025 (a)
|
6,675,000 | 6,903,085 | ||||
FirstEnergy Corp.: | ||||||
Series A, 3.35%, 7/15/2022
|
6,970,000 | 7,083,402 | ||||
Series B, 4.75%, 3/15/2023
|
4,475,000 | 4,709,266 | ||||
FirstEnergy Transmission LLC 4.35%, 1/15/2025 (a)
|
944,000 | 1,035,955 | ||||
InterGen NV 7.00%, 6/30/2023 (a) (c)
|
412,000 | 407,447 | ||||
Leeward Renewable Energy Operations LLC 4.25%, 7/1/2029 (a) (d)
|
1,650,000 | 1,676,482 | ||||
NextEra Energy Operating Partners L.P.: | ||||||
4.25%, 7/15/2024 (a)
|
6,696,000 | 7,061,066 | ||||
4.25%, 9/15/2024 (a)
|
69,000 | 73,043 | ||||
NRG Energy, Inc. 7.25%, 5/15/2026
|
8,484,000 | 8,813,009 | ||||
Talen Energy Supply LLC: | ||||||
6.50%, 6/1/2025 (c)
|
4,793,000 | 3,177,280 | ||||
10.50%, 1/15/2026 (a) (c)
|
6,826,000 | 4,975,062 | ||||
Terraform Global Operating LLC 6.13%, 3/1/2026 (a)
|
881,000 | 907,536 | ||||
TransAlta Corp. 4.50%, 11/15/2022
|
1,078,000 | 1,117,099 | ||||
63,219,680 | ||||||
ELECTRICAL COMPONENTS & EQUIPMENT — 0.3% | ||||||
WESCO Distribution, Inc.: | ||||||
5.38%, 6/15/2024
|
632,000 | 640,494 | ||||
7.13%, 6/15/2025 (a)
|
14,487,000 | 15,657,405 | ||||
16,297,899 |
Security Description | Principal
Amount |
Value | ||||
ELECTRONICS — 0.4% | ||||||
Brightstar Escrow Corp. 9.75%, 10/15/2025 (a)
|
$ 4,139,000 | $ 4,462,794 | ||||
Ingram Micro, Inc. 5.45%, 12/15/2024
|
2,464,000 | 2,803,736 | ||||
Sensata Technologies B.V.: | ||||||
4.88%, 10/15/2023 (a)
|
5,362,000 | 5,758,627 | ||||
5.00%, 10/1/2025 (a)
|
4,555,999 | 5,074,199 | ||||
5.63%, 11/1/2024 (a)
|
3,170,000 | 3,535,406 | ||||
21,634,762 | ||||||
ENERGY-ALTERNATE SOURCES — 0.3% | ||||||
Enviva Partners L.P./Enviva Partners Finance
Corp. 6.50%, 1/15/2026 (a)
|
8,333,000 | 8,709,068 | ||||
TerraForm Power Operating LLC 4.25%, 1/31/2023 (a)
|
4,706,875 | 4,846,669 | ||||
13,555,737 | ||||||
ENGINEERING & CONSTRUCTION — 0.5% | ||||||
Abengoa Abenewco 2 SAU PIK 1.50%, 10/26/2024 (a) (e)
|
4,521,313 | 22,607 | ||||
Brand Industrial Services, Inc. 8.50%, 7/15/2025 (a) (c)
|
7,927,000 | 8,081,418 | ||||
Brundage-Bone Concrete Pumping Holdings,
Inc. 6.00%, 2/1/2026 (a)
|
2,129,000 | 2,245,946 | ||||
Fluor Corp. 3.50%, 12/15/2024 (c)
|
2,471,000 | 2,607,696 | ||||
New Enterprise Stone & Lime Co.,
Inc. 6.25%, 3/15/2026 (a)
|
1,797,000 | 1,853,641 | ||||
PowerTeam Services LLC 9.03%, 12/4/2025 (a)
|
11,028,000 | 12,131,020 | ||||
Tutor Perini Corp. 6.88%, 5/1/2025 (a) (c)
|
200,000 | 206,916 | ||||
27,149,244 | ||||||
ENTERTAINMENT — 3.7% | ||||||
AMC Entertainment Holdings, Inc. 10.50%, 4/15/2025 (a) (c)
|
5,505,000 | 5,980,577 | ||||
Caesars Entertainment, Inc. 6.25%, 7/1/2025 (a)
|
28,593,000 | 30,329,167 | ||||
Caesars Resort Collection LLC/CRC Finco,
Inc. 5.75%, 7/1/2025 (a)
|
11,268,000 | 11,873,655 |
Security Description | Principal
Amount |
Value | ||||
Cedar Fair L.P./Canada's Wonderland Co./Magnum
Management Corp. 5.38%, 6/1/2024 (c)
|
$ 1,983,000 | $ 2,004,040 | ||||
Cedar Fair L.P./Canada's Wonderland Co./Magnum
Management Corp./Millennium Op 5.50%, 5/1/2025 (a)
|
9,175,000 | 9,593,380 | ||||
Cinemark USA, Inc. 5.88%, 3/15/2026 (a) (c)
|
6,717,000 | 7,045,394 | ||||
Cirsa Finance International Sarl 7.88%, 12/20/2023 (a)
|
1,778,000 | 1,812,120 | ||||
CRC Escrow Issuer LLC/CRC Finco, Inc. 5.25%, 10/15/2025 (a)
|
13,288,000 | 13,459,017 | ||||
International Game Technology PLC: | ||||||
4.13%, 4/15/2026 (a)
|
4,870,000 | 5,071,715 | ||||
6.50%, 2/15/2025 (a) (c)
|
12,939,000 | 14,477,188 | ||||
Jacobs Entertainment, Inc. 7.88%, 2/1/2024 (a)
|
864,000 | 901,135 | ||||
Live Nation Entertainment, Inc. 4.88%, 11/1/2024 (a)
|
5,670,000 | 5,770,699 | ||||
Merlin Entertainments PLC 5.75%, 6/15/2026 (a)
|
2,922,000 | 3,072,074 | ||||
Mohegan Gaming & Entertainment 8.00%, 2/1/2026 (a)
|
12,829,000 | 13,401,558 | ||||
Scientific Games International, Inc.: | ||||||
5.00%, 10/15/2025 (a)
|
11,988,000 | 12,375,212 | ||||
8.25%, 3/15/2026 (a)
|
5,796,000 | 6,224,209 | ||||
8.63%, 7/1/2025 (a)
|
8,310,000 | 9,094,713 | ||||
SeaWorld Parks & Entertainment,
Inc. 9.50%, 8/1/2025 (a)
|
2,604,000 | 2,802,269 | ||||
Six Flags Entertainment Corp. 4.88%, 7/31/2024 (a)
|
9,895,000 | 9,991,476 | ||||
Six Flags Theme Parks, Inc. 7.00%, 7/1/2025 (a)
|
8,510,000 | 9,171,227 | ||||
Vail Resorts, Inc. 6.25%, 5/15/2025 (a)
|
126,000 | 134,835 | ||||
Wynn Resorts Finance LLC/Wynn Resorts Capital
Corp. 7.75%, 4/15/2025 (a)
|
9,479,000 | 10,213,338 | ||||
184,798,998 | ||||||
ENVIRONMENTAL CONTROL — 0.7% | ||||||
Covanta Holding Corp. 5.88%, 7/1/2025
|
5,849,000 | 6,049,855 |
Security Description | Principal
Amount |
Value | ||||
GFL Environmental, Inc.: | ||||||
3.75%, 8/1/2025 (a)
|
$ 9,067,000 | $ 9,314,801 | ||||
4.25%, 6/1/2025 (a) (c)
|
4,859,000 | 5,059,191 | ||||
Stericycle, Inc. 5.38%, 7/15/2024 (a) (c)
|
8,888,000 | 9,132,864 | ||||
Tervita Corp. 11.00%, 12/1/2025 (a)
|
5,017,000 | 5,613,521 | ||||
Waste Pro USA, Inc. 5.50%, 2/15/2026 (a)
|
1,963,000 | 2,027,269 | ||||
37,197,501 | ||||||
FOOD — 2.1% | ||||||
Albertsons Cos., Inc./Safeway, Inc./New Albertsons L.P./Albertsons LLC: | ||||||
3.25%, 3/15/2026 (a)
|
5,347,000 | 5,444,155 | ||||
3.50%, 2/15/2023 (a)
|
9,911,000 | 10,186,526 | ||||
7.50%, 3/15/2026 (a)
|
5,050,000 | 5,538,537 | ||||
B&G Foods, Inc. 5.25%, 4/1/2025 (c)
|
10,093,000 | 10,377,219 | ||||
Chobani LLC/Chobani Finance Corp., Inc. 7.50%, 4/15/2025 (a)
|
5,772,000 | 6,004,612 | ||||
Del Monte Foods, Inc. 11.88%, 5/15/2025 (a)
|
3,498,000 | 3,989,469 | ||||
FAGE International SA/FAGE USA Dairy Industry,
Inc. 5.63%, 8/15/2026 (a)
|
2,626,000 | 2,708,509 | ||||
Fresh Market, Inc. 9.75%, 5/1/2023 (a)
|
6,593,000 | 6,794,020 | ||||
JBS USA Food Co. 7.00%, 1/15/2026 (a)
|
7,792,000 | 8,260,221 | ||||
Kraft Heinz Foods Co.: | ||||||
3.00%, 6/1/2026
|
10,220,000 | 10,887,366 | ||||
3.50%, 6/6/2022
|
3,776,000 | 3,869,607 | ||||
3.95%, 7/15/2025
|
7,100,000 | 7,904,146 | ||||
Lamb Weston Holdings, Inc. 4.63%, 11/1/2024 (a)
|
5,785,000 | 5,983,541 | ||||
Sigma Holdco B.V. 7.88%, 5/15/2026 (a) (c)
|
4,494,000 | 4,564,646 | ||||
US Foods, Inc. 6.25%, 4/15/2025 (a)
|
11,337,000 | 12,028,670 | ||||
104,541,244 |
Security Description | Principal
Amount |
Value | ||||
FOOD SERVICE — 0.3% | ||||||
Aramark Services, Inc.: | ||||||
5.00%, 4/1/2025 (a)
|
$ 4,239,000 | $ 4,346,416 | ||||
6.38%, 5/1/2025 (a) (c)
|
11,481,000 | 12,195,922 | ||||
16,542,338 | ||||||
GAS — 0.4% | ||||||
AmeriGas Partners L.P./AmeriGas Finance Corp.: | ||||||
5.50%, 5/20/2025
|
8,283,000 | 9,116,104 | ||||
5.63%, 5/20/2024
|
9,919,000 | 10,856,842 | ||||
Rockpoint Gas Storage Canada, Ltd. 7.00%, 3/31/2023 (a)
|
1,142,000 | 1,168,186 | ||||
21,141,132 | ||||||
HAND & MACHINE TOOLS — 0.0% (f) | ||||||
Colfax Corp. 6.38%, 2/15/2026 (a)
|
148,000 | 156,476 | ||||
HEALTH CARE SERVICES — 4.3% | ||||||
Air Methods Corp. 8.00%, 5/15/2025 (a)
|
5,810,000 | 5,490,566 | ||||
Akumin, Inc. 7.00%, 11/1/2025 (a) (c)
|
8,256,000 | 8,560,729 | ||||
Centene Corp.: | ||||||
5.38%, 6/1/2026 (a)
|
9,327,000 | 9,746,528 | ||||
5.38%, 8/15/2026 (a)
|
1,390,000 | 1,452,689 | ||||
CHS/Community Health Systems, Inc.: | ||||||
6.63%, 2/15/2025 (a)
|
13,414,000 | 14,178,061 | ||||
8.00%, 3/15/2026 (a)
|
19,112,000 | 20,595,282 | ||||
Encompass Health Corp. 5.75%, 9/15/2025
|
701,000 | 721,154 | ||||
Global Medical Response, Inc. 6.50%, 10/1/2025 (a)
|
4,912,000 | 5,048,652 | ||||
HCA, Inc.: | ||||||
5.38%, 2/1/2025
|
21,922,000 | 24,726,701 | ||||
5.88%, 5/1/2023
|
12,443,000 | 13,511,854 | ||||
5.88%, 2/15/2026
|
10,097,000 | 11,683,844 | ||||
Legacy LifePoint Health LLC 6.75%, 4/15/2025 (a)
|
3,555,000 | 3,786,537 | ||||
ModivCare, Inc. 5.88%, 11/15/2025 (a)
|
4,509,000 | 4,824,495 | ||||
Molina Healthcare, Inc. 5.38%, 11/15/2022
|
6,151,000 | 6,442,373 |
Security Description | Principal
Amount |
Value | ||||
Prime Healthcare Services, Inc. 7.25%, 11/1/2025 (a)
|
$ 6,666,000 | $ 7,219,745 | ||||
RP Escrow Issuer LLC 5.25%, 12/15/2025 (a)
|
7,632,000 | 7,971,929 | ||||
Surgery Center Holdings, Inc. 6.75%, 7/1/2025 (a) (c)
|
20,000 | 20,397 | ||||
Tenet Healthcare Corp.: | ||||||
4.63%, 7/15/2024
|
14,767,000 | 14,983,337 | ||||
4.63%, 9/1/2024 (a)
|
11,259,000 | 11,554,436 | ||||
4.88%, 1/1/2026 (a)
|
11,589,000 | 12,004,582 | ||||
6.75%, 6/15/2023
|
17,615,000 | 19,181,502 | ||||
7.50%, 4/1/2025 (a)
|
9,752,000 | 10,521,043 | ||||
US Acute Care Solutions LLC 6.38%, 3/1/2026 (a)
|
4,073,000 | 4,209,771 | ||||
218,436,207 | ||||||
HOLDING COMPANIES-DIVERSIFIED — 0.2% | ||||||
Stena AB 7.00%, 2/1/2024 (a) (c)
|
2,618,000 | 2,753,796 | ||||
Stena International SA: | ||||||
5.75%, 3/1/2024 (a)
|
320,000 | 330,761 | ||||
6.13%, 2/1/2025 (a)
|
5,863,000 | 6,088,198 | ||||
9,172,755 | ||||||
HOME BUILDERS — 0.6% | ||||||
Empire Communities Corp. 7.00%, 12/15/2025 (a)
|
6,855,000 | 7,224,896 | ||||
Forestar Group, Inc. 3.85%, 5/15/2026 (a)
|
5,456,000 | 5,513,288 | ||||
KB Home: | ||||||
7.50%, 9/15/2022
|
3,116,000 | 3,347,020 | ||||
7.63%, 5/15/2023
|
916,000 | 995,619 | ||||
Picasso Finance Sub, Inc. 6.13%, 6/15/2025 (a)
|
3,013,000 | 3,189,984 | ||||
Taylor Morrison Communities, Inc./Taylor Morrison
Holdings II, Inc. 5.88%, 4/15/2023 (a)
|
2,548,000 | 2,720,984 | ||||
Toll Brothers Finance Corp.: | ||||||
4.38%, 4/15/2023
|
2,901,660 | 3,035,775 | ||||
4.88%, 11/15/2025
|
379,000 | 424,957 | ||||
5.88%, 2/15/2022
|
3,932,000 | 4,012,645 |
Security Description | Principal
Amount |
Value | ||||
TRI Pointe Group, Inc./TRI Pointe Homes,
Inc. 5.88%, 6/15/2024
|
$ 1,347,000 | $ 1,498,214 | ||||
31,963,382 | ||||||
HOME FURNISHINGS — 0.2% | ||||||
WASH Multifamily Acquisition, Inc. 5.75%, 4/15/2026 (a)
|
11,090,000 | 11,581,065 | ||||
HOUSEHOLD PRODUCTS & WARES — 0.1% | ||||||
Spectrum Brands, Inc. 5.75%, 7/15/2025
|
6,320,000 | 6,481,729 | ||||
HOUSEWARES — 0.9% | ||||||
CD&R Smokey Buyer, Inc. 6.75%, 7/15/2025 (a)
|
6,598,000 | 7,069,031 | ||||
Newell Brands, Inc.: | ||||||
4.35%, 4/1/2023
|
10,451,000 | 10,981,702 | ||||
4.70%, 4/1/2026
|
19,040,000 | 21,228,077 | ||||
4.88%, 6/1/2025
|
6,600,000 | 7,312,734 | ||||
46,591,544 | ||||||
INSURANCE — 1.0% | ||||||
Acrisure LLC/Acrisure Finance, Inc. 7.00%, 11/15/2025 (a)
|
11,361,000 | 11,617,191 | ||||
AssuredPartners, Inc. 7.00%, 8/15/2025 (a)
|
5,987,000 | 6,112,428 | ||||
Genworth Holdings, Inc.: | ||||||
7.63%, 9/24/2021 (c)
|
3,987,000 | 4,047,563 | ||||
Series ., 4.80%, 2/15/2024 (c)
|
3,199,000 | 3,198,424 | ||||
Series ., 4.90%, 8/15/2023 (c)
|
3,908,000 | 3,919,489 | ||||
HUB International, Ltd. 7.00%, 5/1/2026 (a)
|
8,245,000 | 8,548,911 | ||||
NMI Holdings, Inc. 7.38%, 6/1/2025 (a)
|
3,906,000 | 4,473,776 | ||||
Radian Group, Inc.: | ||||||
4.50%, 10/1/2024
|
2,357,000 | 2,524,559 | ||||
6.63%, 3/15/2025
|
645,000 | 728,798 | ||||
USI, Inc. 6.88%, 5/1/2025 (a)
|
4,875,000 | 4,964,797 | ||||
50,135,936 |
Security Description | Principal
Amount |
Value | ||||
INTERNET — 1.3% | ||||||
Cogent Communications Group, Inc.: | ||||||
3.50%, 5/1/2026 (a)
|
$ 7,729,000 | $ 7,910,863 | ||||
5.38%, 3/1/2022 (a) (c)
|
1,907,000 | 1,937,073 | ||||
Netflix, Inc.: | ||||||
3.63%, 6/15/2025 (a) (c)
|
5,827,000 | 6,274,222 | ||||
5.50%, 2/15/2022
|
9,951,000 | 10,236,594 | ||||
5.75%, 3/1/2024
|
3,321,000 | 3,726,328 | ||||
5.88%, 2/15/2025 (c)
|
9,016,000 | 10,414,021 | ||||
NortonLifeLock, Inc.: | ||||||
3.95%, 6/15/2022 (c)
|
137,000 | 139,536 | ||||
5.00%, 4/15/2025 (a)
|
6,817,000 | 6,903,576 | ||||
TripAdvisor, Inc. 7.00%, 7/15/2025 (a) (c)
|
6,366,000 | 6,859,556 | ||||
Uber Technologies, Inc. 7.50%, 5/15/2025 (a)
|
9,001,000 | 9,712,349 | ||||
64,114,118 | ||||||
INVESTMENT COMPANY SECURITY — 0.6% | ||||||
Icahn Enterprises L.P./Icahn Enterprises Finance Corp.: | ||||||
4.75%, 9/15/2024
|
12,476,000 | 13,051,518 | ||||
6.25%, 5/15/2026
|
7,362,000 | 7,810,051 | ||||
6.38%, 12/15/2025
|
10,372,000 | 10,717,388 | ||||
31,578,957 | ||||||
IRON/STEEL — 0.9% | ||||||
Allegheny Technologies, Inc. 7.88%, 8/15/2023
|
5,600,000 | 6,164,312 | ||||
ArcelorMittal SA: | ||||||
3.60%, 7/16/2024 (c)
|
3,335,000 | 3,576,521 | ||||
4.55%, 3/11/2026
|
4,969,000 | 5,626,100 | ||||
Cleveland-Cliffs, Inc.: | ||||||
6.75%, 3/15/2026 (a)
|
11,670,000 | 12,576,876 | ||||
9.88%, 10/17/2025 (a)
|
4,829,000 | 5,648,529 | ||||
United States Steel Corp.: | ||||||
6.25%, 3/15/2026 (c)
|
3,110,000 | 3,202,927 | ||||
6.88%, 8/15/2025 (c)
|
8,539,000 | 8,734,031 | ||||
45,529,296 | ||||||
LEISURE TIME — 3.5% | ||||||
24 Hour Fitness Worldwide, Inc. 8.00%, 6/1/2022 (a) (g)
|
1,771,000 | 9,918 |
Security Description | Principal
Amount |
Value | ||||
Carlson Travel, Inc.: | ||||||
6.75%, 12/15/2025 (a) (c)
|
$ 3,260,653 | $ 2,997,714 | ||||
11.50%, 12/15/2026 (a)
|
1,749,937 | 877,383 | ||||
Carnival Corp.: | ||||||
7.63%, 3/1/2026 (a)
|
14,081,000 | 15,342,798 | ||||
10.50%, 2/1/2026 (a) (c)
|
10,271,000 | 11,980,916 | ||||
11.50%, 4/1/2023 (a)
|
31,134,000 | 35,154,956 | ||||
Constellation Merger Sub, Inc. 8.50%, 9/15/2025 (a)
|
1,560,000 | 1,540,500 | ||||
Life Time, Inc.: | ||||||
5.75%, 1/15/2026 (a)
|
12,503,000 | 12,955,359 | ||||
8.00%, 4/15/2026 (a)
|
1,665,000 | 1,780,984 | ||||
NCL Corp., Ltd.: | ||||||
3.63%, 12/15/2024 (a) (c)
|
4,108,000 | 3,964,959 | ||||
5.88%, 3/15/2026 (a)
|
9,244,000 | 9,683,275 | ||||
10.25%, 2/1/2026 (a)
|
11,581,000 | 13,551,855 | ||||
12.25%, 5/15/2024 (a)
|
2,750,000 | 3,320,102 | ||||
Royal Caribbean Cruises, Ltd.: | ||||||
4.25%, 7/1/2026 (a) (c)
|
3,780,000 | 3,775,275 | ||||
5.25%, 11/15/2022
|
8,856,000 | 9,134,256 | ||||
9.13%, 6/15/2023 (a)
|
7,690,000 | 8,441,467 | ||||
10.88%, 6/1/2023 (a)
|
9,632,000 | 10,981,925 | ||||
11.50%, 6/1/2025 (a)
|
20,359,000 | 23,488,178 | ||||
Viking Cruises, Ltd. 13.00%, 5/15/2025 (a)
|
6,133,000 | 7,212,653 | ||||
176,194,473 | ||||||
LODGING — 2.8% | ||||||
Boyd Gaming Corp. 8.63%, 6/1/2025 (a)
|
5,485,000 | 6,040,960 | ||||
Diamond Resorts International, Inc.: | ||||||
7.75%, 9/1/2023 (a) (c)
|
9,383,000 | 9,659,986 | ||||
10.75%, 9/1/2024 (a)
|
3,609,000 | 3,755,525 | ||||
Hilton Domestic Operating Co., Inc. 5.38%, 5/1/2025 (a)
|
3,678,000 | 3,873,817 | ||||
Marriott Ownership Resorts, Inc. 6.13%, 9/15/2025 (a)
|
7,395,000 | 7,861,772 | ||||
Melco Resorts Finance, Ltd.: | ||||||
4.88%, 6/6/2025 (a)
|
8,404,000 | 8,615,276 | ||||
Series REGS, 4.88%, 6/6/2025
|
585,000 | 599,707 | ||||
MGM China Holdings, Ltd.: | ||||||
5.25%, 6/18/2025 (a)
|
120,000 | 124,656 |
Security Description | Principal
Amount |
Value | ||||
5.38%, 5/15/2024 (a)
|
$ 11,333,000 | $ 11,631,398 | ||||
5.88%, 5/15/2026 (a)
|
4,145,000 | 4,346,074 | ||||
MGM Resorts International: | ||||||
5.75%, 6/15/2025
|
8,917,000 | 9,833,133 | ||||
6.00%, 3/15/2023
|
10,533,000 | 11,263,463 | ||||
6.75%, 5/1/2025
|
6,156,000 | 6,591,291 | ||||
7.75%, 3/15/2022
|
13,865,000 | 14,490,034 | ||||
Studio City Finance, Ltd. 6.00%, 7/15/2025 (a) (c)
|
2,571,000 | 2,704,023 | ||||
Travel + Leisure Co.: | ||||||
3.90%, 3/1/2023
|
19,000 | 19,617 | ||||
6.60%, 10/1/2025
|
2,707,000 | 3,058,017 | ||||
Universal Entertainment Corp. 8.50%, 12/11/2024 (a)
|
4,959,000 | 5,220,141 | ||||
Wyndham Destinations, Inc. 4.25%, 3/1/2022
|
8,076,000 | 8,166,855 | ||||
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.: | ||||||
4.25%, 5/30/2023 (a) (c)
|
1,187,000 | 1,223,536 | ||||
5.50%, 3/1/2025 (a)
|
14,626,603 | 15,742,028 | ||||
Wynn Macau, Ltd.: | ||||||
5.50%, 1/15/2026 (a)
|
2,226,000 | 2,329,309 | ||||
4.88%, 10/1/2024 (a)
|
5,603,000 | 5,683,403 | ||||
REGS, 5.50%, 10/1/2027 (a)
|
196,000 | 204,381 | ||||
143,038,402 | ||||||
MACHINERY, CONSTRUCTION & MINING — 0.1% | ||||||
BWX Technologies, Inc. 5.38%, 7/15/2026 (a)
|
2,870,000 | 2,947,146 | ||||
MACHINERY-DIVERSIFIED — 0.3% | ||||||
Cleaver-Brooks, Inc. 7.88%, 3/1/2023 (a) (c)
|
3,331,000 | 3,297,290 | ||||
Husky III Holding, Ltd. PIK 13.00%, 2/15/2025 (a)
|
3,822,000 | 4,145,838 | ||||
Maxim Crane Works Holdings Capital LLC 10.13%, 8/1/2024 (a)
|
827,000 | 854,506 | ||||
RBS Global, Inc./Rexnord LLC 4.88%, 12/15/2025 (a)
|
2,267,000 | 2,319,300 | ||||
Titan Acquisition, Ltd./Titan Co-Borrower
LLC 7.75%, 4/15/2026 (a)
|
1,540,000 | 1,596,657 |
Security Description | Principal
Amount |
Value | ||||
Welbilt, Inc. 9.50%, 2/15/2024 (c)
|
$ 1,673,000 | $ 1,750,811 | ||||
13,964,402 | ||||||
MEDIA — 4.7% | ||||||
Altice Financing SA 7.50%, 5/15/2026 (a)
|
21,465,000 | 22,323,600 | ||||
AMC Networks, Inc.: | ||||||
4.75%, 8/1/2025 (c)
|
10,516,500 | 10,794,661 | ||||
5.00%, 4/1/2024 (c)
|
2,815,000 | 2,858,492 | ||||
Cablevision Systems Corp. 5.88%, 9/15/2022
|
7,564,000 | 7,940,687 | ||||
CCO Holdings LLC/CCO Holdings Capital Corp.: | ||||||
4.00%, 3/1/2023 (a)
|
4,292,000 | 4,332,559 | ||||
5.50%, 5/1/2026 (a)
|
10,283,000 | 10,629,331 | ||||
5.75%, 2/15/2026 (a)
|
9,948,000 | 10,282,352 | ||||
Cengage Learning, Inc. 9.50%, 6/15/2024 (a) (c)
|
5,063,000 | 5,185,879 | ||||
CSC Holdings LLC: | ||||||
5.25%, 6/1/2024 (c)
|
4,528,000 | 4,908,126 | ||||
6.75%, 11/15/2021
|
10,399,000 | 10,606,980 | ||||
Cumulus Media New Holdings, Inc. 6.75%, 7/1/2026 (a) (c)
|
1,957,000 | 2,047,531 | ||||
DISH DBS Corp.: | ||||||
5.00%, 3/15/2023
|
9,463,000 | 9,917,697 | ||||
5.88%, 7/15/2022
|
21,152,000 | 22,058,786 | ||||
5.88%, 11/15/2024
|
12,029,000 | 12,918,063 | ||||
7.38%, 7/1/2028 (c)
|
1,970,000 | 2,120,410 | ||||
Gray Television, Inc. 5.88%, 7/15/2026 (a)
|
3,490,000 | 3,603,879 | ||||
iHeartCommunications, Inc.: | ||||||
5.25%, 8/15/2027 (a)
|
3,786,000 | 3,962,882 | ||||
6.38%, 5/1/2026
|
1,718,000 | 1,827,780 | ||||
McGraw Hill LLC/McGraw-Hill Global Education
Finance, Inc. 8.00%, 11/30/2024 (a)
|
6,045,000 | 6,187,360 | ||||
Meredith Corp. 6.88%, 2/1/2026 (c)
|
5,529,000 | 5,762,821 | ||||
Quebecor Media, Inc. 5.75%, 1/15/2023 (c)
|
3,933,000 | 4,206,265 | ||||
Sirius XM Radio, Inc.: | ||||||
3.88%, 8/1/2022 (a)
|
10,400,000 | 10,416,848 | ||||
4.63%, 7/15/2024 (a)
|
19,132,000 | 19,644,355 |
Security Description | Principal
Amount |
Value | ||||
Summer BC Bidco B LLC 5.50%, 10/31/2026 (a) (d)
|
$ 1,325,000 | $ 1,347,167 | ||||
TEGNA, Inc. 4.75%, 3/15/2026 (a)
|
2,995,000 | 3,190,963 | ||||
Townsquare Media, Inc. 6.88%, 2/1/2026 (a) (c)
|
4,298,000 | 4,597,184 | ||||
Univision Communications, Inc.: | ||||||
5.13%, 2/15/2025 (a)
|
9,324,000 | 9,512,345 | ||||
9.50%, 5/1/2025 (a)
|
6,687,000 | 7,374,959 | ||||
Videotron, Ltd.: | ||||||
5.00%, 7/15/2022
|
11,163,000 | 11,610,971 | ||||
5.38%, 6/15/2024 (a)
|
4,801,000 | 5,269,002 | ||||
237,439,935 | ||||||
METAL FABRICATE & HARDWARE — 0.1% | ||||||
Grinding Media, Inc./Moly-Cop AltaSteel,
Ltd. 7.38%, 12/15/2023 (a)
|
5,962,000 | 6,096,264 | ||||
MINING — 1.0% | ||||||
Arconic Corp. 6.00%, 5/15/2025 (a) (c)
|
2,398,000 | 2,554,302 | ||||
Constellium SE 5.88%, 2/15/2026 (a)
|
7,334,000 | 7,550,720 | ||||
FMG Resources August 2006 Pty, Ltd. 5.13%, 5/15/2024 (a)
|
2,678,000 | 2,912,459 | ||||
Freeport-McMoRan, Inc.: | ||||||
3.55%, 3/1/2022 (c)
|
5,220,253 | 5,272,456 | ||||
3.88%, 3/15/2023
|
7,286,000 | 7,593,906 | ||||
4.55%, 11/14/2024
|
6,264,000 | 6,836,592 | ||||
Hudbay Minerals, Inc. 4.50%, 4/1/2026 (a)
|
3,296,000 | 3,311,656 | ||||
Perenti Finance Pty, Ltd. 6.50%, 10/7/2025 (a) (c)
|
6,688,000 | 7,040,591 | ||||
Taseko Mines, Ltd. 7.00%, 2/15/2026 (a)
|
4,435,000 | 4,633,821 | ||||
47,706,503 | ||||||
MISCELLANEOUS MANUFACTURER — 0.9% | ||||||
Bombardier, Inc.: | ||||||
6.00%, 10/15/2022 (a)
|
25,000 | 25,037 | ||||
6.13%, 1/15/2023 (a)
|
500 | 528 | ||||
7.13%, 6/15/2026 (a)
|
6,170,000 | 6,459,805 | ||||
7.50%, 12/1/2024 (a)
|
7,808,000 | 8,170,994 |
Security Description | Principal
Amount |
Value | ||||
7.50%, 3/15/2025 (a) (c)
|
$ 13,197,000 | $ 13,589,743 | ||||
FXI Holdings, Inc.: | ||||||
7.88%, 11/1/2024 (a)
|
3,832,000 | 3,953,819 | ||||
12.25%, 11/15/2026 (a)
|
1,868,000 | 2,153,430 | ||||
Gates Global LLC/Gates Corp. 6.25%, 1/15/2026 (a)
|
5,225,000 | 5,479,196 | ||||
Hillenbrand, Inc. 5.75%, 6/15/2025
|
2,078,000 | 2,229,278 | ||||
LSB Industries, Inc. 9.63%, 5/1/2023 (a)
|
657,000 | 675,685 | ||||
Trinity Industries, Inc. 4.55%, 10/1/2024
|
4,595,000 | 4,891,240 | ||||
47,628,755 | ||||||
OFFICE & BUSINESS EQUIPMENT — 0.7% | ||||||
CDW LLC/CDW Finance Corp.: | ||||||
4.13%, 5/1/2025
|
7,071,000 | 7,386,650 | ||||
5.50%, 12/1/2024
|
5,642,000 | 6,291,958 | ||||
Xerox Corp. 4.38%, 3/15/2023
|
10,787,000 | 11,257,637 | ||||
Xerox Holdings Corp. 5.00%, 8/15/2025 (a) (c)
|
7,845,000 | 8,288,399 | ||||
33,224,644 | ||||||
OIL & GAS — 7.8% | ||||||
Aethon United BR L.P./Aethon United Finance
Corp. 8.25%, 2/15/2026 (a)
|
7,502,000 | 8,125,491 | ||||
Antero Resources Corp. 5.00%, 3/1/2025 (c)
|
3,193,000 | 3,271,228 | ||||
Apache Corp. 4.63%, 11/15/2025
|
8,023,000 | 8,645,344 | ||||
Athabasca Oil Corp. 9.88%, 2/24/2022 (a)
|
2,474,000 | 2,292,112 | ||||
Baytex Energy Corp. 5.63%, 6/1/2024 (a)
|
1,244,000 | 1,246,774 | ||||
Berry Petroleum Co. LLC 7.00%, 2/15/2026 (a) (c)
|
2,899,000 | 2,947,616 | ||||
California Resources Corp. 7.13%, 2/1/2026 (a)
|
4,586,000 | 4,832,681 | ||||
Callon Petroleum Co.: | ||||||
6.13%, 10/1/2024
|
3,852,000 | 3,796,223 | ||||
6.25%, 4/15/2023
|
3,994,000 | 3,999,751 | ||||
9.00%, 4/1/2025 (a)
|
1,331,000 | 1,450,684 |
Security Description | Principal
Amount |
Value | |||
Calumet Specialty Products Partners L.P./Calumet
Finance Corp. 11.00%, 4/15/2025 (a) (c)
|
$ 4,014,000 | $ 4,375,902 | |||
Cenovus Energy, Inc.: | |||||
3.00%, 8/15/2022
|
2,392,000 | 2,441,299 | |||
3.80%, 9/15/2023 (c)
|
1,297,000 | 1,367,829 | |||
Chesapeake Energy Corp. 5.50%, 2/1/2026 (a)
|
1,312,000 | 1,384,436 | |||
Continental Resources, Inc.: | |||||
3.80%, 6/1/2024 (c)
|
9,528,000 | 10,075,955 | |||
4.50%, 4/15/2023
|
5,720,000 | 5,965,617 | |||
CrownRock L.P./CrownRock Finance, Inc. 5.63%, 10/15/2025 (a)
|
13,984,000 | 14,469,385 | |||
CVR Energy, Inc. 5.25%, 2/15/2025 (a)
|
2,815,000 | 2,815,676 | |||
Devon Energy Corp. 5.25%, 9/15/2024 (a) (c)
|
4,931,000 | 5,495,353 | |||
Endeavor Energy Resources L.P./EER Finance, Inc.: | |||||
5.50%, 1/30/2026 (a)
|
3,012,000 | 3,127,390 | |||
6.63%, 7/15/2025 (a)
|
9,966,000 | 10,679,566 | |||
Ensign Drilling, Inc. 9.25%, 4/15/2024 (a)
|
1,295,000 | 1,225,808 | |||
EQT Corp.: | |||||
3.00%, 10/1/2022 (c)
|
3,606,000 | 3,680,211 | |||
3.13%, 5/15/2026 (a)
|
4,585,000 | 4,697,378 | |||
7.63%, 2/1/2025
|
11,138,000 | 12,981,005 | |||
Gulfport Energy Operating Corp. 8.00%, 5/17/2026 (a)
|
4,210,000 | 4,526,129 | |||
Independence Energy Finance LLC 7.25%, 5/1/2026 (a)
|
4,368,000 | 4,604,920 | |||
Ithaca Energy North Sea PLC 9.38%, 7/15/2024 (a) (c)
|
6,676,000 | 6,909,860 | |||
Laredo Petroleum, Inc. 9.50%, 1/15/2025
|
3,368,000 | 3,550,276 | |||
Lundin Energy Finance B.V. 2.00%, 7/15/2026 (a)
|
1,940,000 | 1,944,384 | |||
Magnolia Oil & Gas Operating LLC/Magnolia Oil
& Gas Finance Corp. 6.00%, 8/1/2026 (a)
|
1,470,000 | 1,514,762 | |||
MEG Energy Corp. 6.50%, 1/15/2025 (a)
|
2,319,000 | 2,398,449 | |||
Moss Creek Resources Holdings, Inc. 7.50%, 1/15/2026 (a)
|
8,013,000 | 7,475,808 |
Security Description | Principal
Amount |
Value | |||
Murphy Oil Corp.: | |||||
5.75%, 8/15/2025
|
$ 8,647,000 | $ 8,894,045 | |||
6.88%, 8/15/2024 (c)
|
3,192,000 | 3,265,033 | |||
Nabors Industries, Inc. 5.75%, 2/1/2025 (c)
|
2,087,000 | 1,919,894 | |||
Nabors Industries, Ltd. 7.25%, 1/15/2026 (a)
|
10,519,000 | 10,310,934 | |||
Neptune Energy Bondco PLC 6.63%, 5/15/2025 (a)
|
7,493,000 | 7,683,847 | |||
Newfield Exploration Co. 5.38%, 1/1/2026
|
4,751,000 | 5,357,038 | |||
Oasis Petroleum, Inc. 6.38%, 6/1/2026 (a)
|
3,015,000 | 3,141,087 | |||
Occidental Petroleum Corp.: | |||||
2.70%, 8/15/2022
|
4,992,000 | 5,090,792 | |||
2.70%, 2/15/2023
|
8,090,000 | 8,270,407 | |||
2.90%, 8/15/2024
|
20,846,000 | 21,315,660 | |||
3.20%, 8/15/2026
|
1,980,000 | 1,995,464 | |||
3.40%, 4/15/2026
|
4,747,000 | 4,855,374 | |||
3.50%, 6/15/2025 (c)
|
7,311,000 | 7,478,349 | |||
5.50%, 12/1/2025
|
8,786,000 | 9,708,003 | |||
5.55%, 3/15/2026
|
10,101,000 | 11,174,231 | |||
5.88%, 9/1/2025
|
9,151,000 | 10,189,547 | |||
6.95%, 7/1/2024
|
4,917,000 | 5,537,525 | |||
8.00%, 7/15/2025 (c)
|
3,793,000 | 4,549,097 | |||
Ovintiv Exploration, Inc. 5.63%, 7/1/2024
|
3,202,000 | 3,563,570 | |||
Ovintiv, Inc. 3.90%, 11/15/2021
|
3,973,000 | 3,984,760 | |||
PBF Holding Co. LLC/PBF Finance Corp.: | |||||
7.25%, 6/15/2025 (c)
|
7,480,000 | 5,677,769 | |||
9.25%, 5/15/2025 (a) (c)
|
11,072,000 | 11,155,151 | |||
PDC Energy, Inc.: | |||||
5.75%, 5/15/2026
|
6,499,000 | 6,790,740 | |||
6.13%, 9/15/2024
|
32,000 | 32,719 | |||
Puma International Financing SA 5.13%, 10/6/2024 (a)
|
4,145,000 | 4,185,994 | |||
Range Resources Corp.: | |||||
4.88%, 5/15/2025
|
4,845,000 | 5,030,515 | |||
5.00%, 3/15/2023 (c)
|
7,189,000 | 7,479,939 | |||
9.25%, 2/1/2026
|
5,519,000 | 6,086,629 |
Security Description | Principal
Amount |
Value | ||||
SM Energy Co. 10.00%, 1/15/2025 (a) (c)
|
$ 4,077,000 | $ 4,617,202 | ||||
Southwestern Energy Co.: | ||||||
6.45%, 1/23/2025
|
2,257,000 | 2,489,110 | ||||
7.50%, 4/1/2026
|
1,243,000 | 1,315,442 | ||||
Sunoco L.P./Sunoco Finance Corp. 5.50%, 2/15/2026
|
8,006,000 | 8,249,462 | ||||
Talos Production, Inc. 12.00%, 1/15/2026
|
7,461,000 | 7,916,942 | ||||
Transocean Guardian, Ltd. 5.88%, 1/15/2024 (a)
|
10,208,725 | 9,940,746 | ||||
Transocean Pontus, Ltd. 6.13%, 8/1/2025 (a)
|
2,463,250 | 2,486,775 | ||||
Transocean, Inc.: | ||||||
7.25%, 11/1/2025 (a)
|
200,000 | 173,860 | ||||
7.50%, 1/15/2026 (a)
|
9,250,000 | 7,952,040 | ||||
Tullow Oil PLC 10.25%, 5/15/2026 (a)
|
3,000 | 3,151 | ||||
W&T Offshore, Inc. 9.75%, 11/1/2023 (a)
|
5,018,000 | 4,866,456 | ||||
393,050,601 | ||||||
OIL & GAS SERVICES — 1.1% | ||||||
CGG SA 8.75%, 4/1/2027 (a) (c)
|
1,842,000 | 1,907,354 | ||||
Exterran Energy Solutions L.P./EES Finance
Corp. 8.13%, 5/1/2025
|
2,676,000 | 2,381,265 | ||||
KCA Deutag UK Finance PLC 9.88%, 12/1/2025 (a)
|
6,023,000 | 6,642,526 | ||||
Nine Energy Service, Inc. 8.75%, 11/1/2023 (a)
|
2,968,000 | 1,516,054 | ||||
Oceaneering International, Inc. 4.65%, 11/15/2024 (c)
|
4,581,000 | 4,613,205 | ||||
SESI LLC 7.75%, 9/15/2024 (g)
|
485,000 | 189,150 | ||||
TechnipFMC PLC 6.50%, 2/1/2026 (a)
|
11,781,000 | 12,709,579 | ||||
USA Compression Partners L.P./USA Compression
Finance Corp. 6.88%, 4/1/2026
|
2,579,000 | 2,704,726 | ||||
Weatherford International, Ltd.: | ||||||
8.75%, 9/1/2024 (a)
|
5,545,000 | 5,798,684 |
Security Description | Principal
Amount |
Value | ||||
11.00%, 12/1/2024 (a) (c)
|
$ 14,911,000 | $ 15,492,976 | ||||
53,955,519 | ||||||
PACKAGING & CONTAINERS — 2.5% | ||||||
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.: | ||||||
4.13%, 8/15/2026 (a)
|
6,575,000 | 6,787,636 | ||||
5.25%, 4/30/2025 (a) (c)
|
3,707,000 | 3,887,049 | ||||
6.00%, 2/15/2025 (a)
|
5,453,916 | 5,627,514 | ||||
Ball Corp.: | ||||||
4.00%, 11/15/2023
|
3,682,000 | 3,902,736 | ||||
4.88%, 3/15/2026
|
7,445,000 | 8,295,963 | ||||
5.00%, 3/15/2022
|
10,511,000 | 10,805,518 | ||||
5.25%, 7/1/2025
|
8,551,000 | 9,676,996 | ||||
Berry Global, Inc. 4.88%, 7/15/2026 (a)
|
418,000 | 442,202 | ||||
Cascades, Inc./Cascades USA, Inc. 5.13%, 1/15/2026 (a)
|
1,278,000 | 1,358,808 | ||||
Crown Americas LLC/Crown Americas Capital Corp.: | ||||||
4.50%, 1/15/2023
|
6,963,000 | 7,299,313 | ||||
4.75%, 2/1/2026
|
244,000 | 253,182 | ||||
Flex Acquisition Co., Inc. 6.88%, 1/15/2025 (a)
|
8,361,000 | 8,517,936 | ||||
Mauser Packaging Solutions Holding Co.: | ||||||
5.50%, 4/15/2024 (a) (c)
|
22,030,000 | 22,208,443 | ||||
7.25%, 4/15/2025 (a) (c)
|
10,449,947 | 10,267,700 | ||||
Owens-Brockway Glass Container, Inc. 5.88%, 8/15/2023 (a) (c)
|
5,632,000 | 6,068,536 | ||||
Plastipak Holdings, Inc. 6.25%, 10/15/2025 (a) (c)
|
8,039,000 | 8,219,878 | ||||
Sealed Air Corp.: | ||||||
4.88%, 12/1/2022 (a)
|
4,328,000 | 4,501,639 | ||||
5.13%, 12/1/2024 (a)
|
1,706,000 | 1,862,304 | ||||
5.25%, 4/1/2023 (a)
|
120,000 | 126,956 | ||||
5.50%, 9/15/2025 (a)
|
4,374,000 | 4,894,506 | ||||
125,004,815 | ||||||
PHARMACEUTICALS — 2.2% | ||||||
Bausch Health Americas, Inc. 9.25%, 4/1/2026 (a)
|
12,440,000 | 13,529,122 | ||||
Bausch Health Cos., Inc.: | ||||||
5.50%, 11/1/2025 (a)
|
23,081,000 | 23,680,413 | ||||
6.13%, 4/15/2025 (a)
|
24,589,951 | 25,196,831 | ||||
9.00%, 12/15/2025 (a)
|
18,809,000 | 20,163,060 |
Security Description | Principal
Amount |
Value | ||||
Elanco Animal Health, Inc.: | ||||||
4.91%, 8/27/2021
|
$ 8,014,000 | $ 8,060,962 | ||||
5.27%, 8/28/2023
|
1,212,000 | 1,306,548 | ||||
Endo Dac/Endo Finance LLC/Endo Finco, Inc.: | ||||||
6.00%, 7/15/2023 (a)
|
3,356,000 | 2,652,683 | ||||
6.00%, 2/1/2025 (a)
|
4,598,000 | 3,468,869 | ||||
Endo Finance LLC/Endo Finco, Inc. 7.25%, 1/15/2022 (a)
|
15,000 | 13,733 | ||||
Herbalife Nutrition, Ltd./HLF Financing,
Inc. 7.88%, 9/1/2025 (a)
|
6,977,000 | 7,586,860 | ||||
Lannett Co., Inc. 7.75%, 4/15/2026 (a)
|
5,568,000 | 5,551,574 | ||||
P&L Development LLC/PLD Finance
Corp. 7.75%, 11/15/2025 (a)
|
806,000 | 852,611 | ||||
112,063,266 | ||||||
PIPELINES — 3.7% | ||||||
Antero Midstream Partners L.P./Antero Midstream
Finance Corp. 7.88%, 5/15/2026 (a)
|
2,717,000 | 3,036,220 | ||||
Blue Racer Midstream LLC/Blue Racer Finance
Corp. 7.63%, 12/15/2025 (a)
|
4,395,000 | 4,761,235 | ||||
Buckeye Partners L.P.: | ||||||
4.13%, 3/1/2025 (a)
|
5,864,000 | 6,090,175 | ||||
4.15%, 7/1/2023
|
454,000 | 470,544 | ||||
CNX Midstream Partners L.P./CNX Midstream Finance
Corp. 6.50%, 3/15/2026 (a)
|
2,334,000 | 2,440,337 | ||||
Crestwood Midstream Partners L.P./Crestwood
Midstream Finance Corp. 5.75%, 4/1/2025
|
26,000 | 26,726 | ||||
DCP Midstream Operating L.P.: | ||||||
4.95%, 4/1/2022
|
2,292,000 | 2,334,998 | ||||
5.38%, 7/15/2025
|
8,278,000 | 9,219,291 | ||||
EnLink Midstream Partners L.P.: | ||||||
4.15%, 6/1/2025
|
5,504,000 | 5,764,174 | ||||
4.40%, 4/1/2024 (c)
|
2,487,465 | 2,612,037 | ||||
EQM Midstream Partners L.P.: | ||||||
4.00%, 8/1/2024
|
5,130,000 | 5,258,712 | ||||
4.75%, 7/15/2023 (c)
|
6,223,000 | 6,496,936 | ||||
6.00%, 7/1/2025 (a)
|
11,923,000 | 12,966,382 | ||||
Genesis Energy L.P./Genesis Energy Finance Corp.: | ||||||
6.25%, 5/15/2026
|
6,344,000 | 6,353,326 | ||||
6.50%, 10/1/2025
|
6,140,000 | 6,211,531 |
Security Description | Principal
Amount |
Value | ||||
Hess Midstream Operations L.P. 5.63%, 2/15/2026 (a)
|
$ 5,265,000 | $ 5,487,973 | ||||
New Fortress Energy, Inc. 6.75%, 9/15/2025 (a)
|
15,083,000 | 15,452,383 | ||||
NGL Energy Operating LLC/NGL Energy Finance
Corp. 7.50%, 2/1/2026 (a)
|
19,429,000 | 20,402,587 | ||||
NGL Energy Partners L.P./NGL Energy Finance Corp.: | ||||||
6.13%, 3/1/2025 (c)
|
4,439,000 | 4,020,935 | ||||
7.50%, 11/1/2023 (c)
|
4,979,000 | 4,905,211 | ||||
Northriver Midstream Finance L.P. 5.63%, 2/15/2026 (a)
|
7,148,000 | 7,421,911 | ||||
NuStar Logistics L.P.: | ||||||
5.75%, 10/1/2025
|
2,142,000 | 2,330,346 | ||||
6.00%, 6/1/2026
|
6,781,000 | 7,377,592 | ||||
PBF Logistics L.P./PBF Logistics Finance
Corp. 6.88%, 5/15/2023 (c)
|
1,587,000 | 1,566,369 | ||||
Rattler Midstream L.P. 5.63%, 7/15/2025 (a)
|
5,659,000 | 5,946,307 | ||||
Rockies Express Pipeline LLC 3.60%, 5/15/2025 (a)
|
2,655,000 | 2,695,834 | ||||
Ruby Pipeline LLC 8.00%, 4/1/2022 (a)
|
1,816,515 | 1,653,047 | ||||
Southeast Supply Header LLC 4.25%, 6/15/2024 (a)
|
6,000 | 6,033 | ||||
Summit Midstream Holdings LLC/Summit Midstream
Finance Corp. 5.75%, 4/15/2025
|
1,733,000 | 1,590,946 | ||||
Tallgrass Energy Partners L.P./Tallgrass Energy Finance Corp.: | ||||||
5.50%, 9/15/2024 (a)
|
5,134,000 | 5,218,146 | ||||
7.50%, 10/1/2025 (a)
|
2,825,000 | 3,077,838 | ||||
Targa Resources Partners L.P./Targa Resources
Partners Finance Corp. 5.88%, 4/15/2026 (c)
|
11,128,000 | 11,675,609 | ||||
Western Midstream Operating L.P.: | ||||||
3.95%, 6/1/2025
|
4,612,000 | 4,788,962 | ||||
4.00%, 7/1/2022
|
3,477,000 | 3,532,980 | ||||
4.35%, 2/1/2025
|
5,508,000 | 5,819,588 | ||||
189,013,221 | ||||||
REAL ESTATE — 0.6% | ||||||
Five Point Operating Co. L.P./Five Point Capital
Corp. 7.88%, 11/15/2025 (a)
|
6,130,000 | 6,472,851 |
Security Description | Principal
Amount |
Value | ||||
Greystar Real Estate Partners LLC 5.75%, 12/1/2025 (a)
|
$ 841,000 | $ 864,472 | ||||
Newmark Group, Inc. 6.13%, 11/15/2023
|
1,381,000 | 1,519,100 | ||||
Realogy Group LLC/Realogy Co-Issuer Corp.: | ||||||
4.88%, 6/1/2023 (a) (c)
|
7,480,000 | 7,783,913 | ||||
7.63%, 6/15/2025 (a)
|
5,452,000 | 5,915,038 | ||||
WeWork Cos., Inc. 7.88%, 5/1/2025 (a)
|
7,024,000 | 7,337,832 | ||||
29,893,206 | ||||||
REAL ESTATE INVESTMENT TRUSTS — 3.9% | ||||||
Apollo Commercial Real Estate Finance,
Inc. 4.63%, 6/15/2029 (a)
|
2,900,000 | 2,860,212 | ||||
Brookfield Property REIT, Inc./BPR Cumulus
LLC/BPR Nimbus LLC/GGSI Sellco LL 5.75%, 5/15/2026 (a) (c)
|
6,622,000 | 6,957,934 | ||||
Diversified Healthcare Trust 9.75%, 6/15/2025
|
12,896,000 | 14,310,820 | ||||
ESH Hospitality, Inc. REIT, 5.25%, 5/1/2025 (a) (c)
|
8,713,000 | 8,875,672 | ||||
FelCor Lodging L.P. 6.00%, 6/1/2025
|
551,000 | 563,006 | ||||
GEO Group Inc. 6.00%, 4/15/2026 (c)
|
5,214,000 | 4,284,657 | ||||
HAT Holdings I LLC/HAT Holdings II LLC: | ||||||
3.38%, 6/15/2026 (a)
|
8,060,000 | 8,123,996 | ||||
6.00%, 4/15/2025 (a)
|
3,035,000 | 3,211,242 | ||||
iStar, Inc.: | ||||||
4.25%, 8/1/2025
|
3,696,000 | 3,799,858 | ||||
4.75%, 10/1/2024
|
3,915,000 | 4,132,048 | ||||
5.50%, 2/15/2026
|
1,869,000 | 1,957,292 | ||||
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.: | ||||||
5.25%, 3/15/2022 (a)
|
7,938,000 | 7,976,261 | ||||
5.25%, 10/1/2025 (a) (c)
|
2,156,000 | 2,195,002 | ||||
MGM Growth Properties Operating Partnership L.P./MGP Finance Co-Issuer, Inc.: | ||||||
4.63%, 6/15/2025 (a)
|
7,260,000 | 7,753,898 | ||||
5.63%, 5/1/2024
|
8,973,000 | 9,727,360 | ||||
New Residential Investment Corp. 6.25%, 10/15/2025 (a)
|
5,133,000 | 5,136,439 |
Security Description | Principal
Amount |
Value | ||||
Park Intermediate Holdings LLC/PK Domestic
Property LLC/PK Finance Co-Issuer 7.50%, 6/1/2025 (a)
|
$ 5,156,500 | $ 5,587,893 | ||||
SBA Communications Corp. 4.88%, 9/1/2024
|
11,283,000 | 11,480,565 | ||||
Service Properties Trust: | ||||||
4.35%, 10/1/2024
|
6,730,000 | 6,788,887 | ||||
4.50%, 6/15/2023 (c)
|
2,394,000 | 2,450,451 | ||||
4.50%, 3/15/2025
|
4,655,000 | 4,631,725 | ||||
4.65%, 3/15/2024
|
1,576,000 | 1,604,179 | ||||
5.00%, 8/15/2022
|
2,093,000 | 2,124,688 | ||||
5.25%, 2/15/2026
|
5,190,000 | 5,253,526 | ||||
7.50%, 9/15/2025
|
11,112,000 | 12,587,229 | ||||
Starwood Property Trust, Inc.: | ||||||
3.63%, 7/15/2026 (a) (d)
|
2,750,000 | 2,771,093 | ||||
4.75%, 3/15/2025
|
2,447,000 | 2,559,611 | ||||
5.00%, 12/15/2021
|
8,698,500 | 8,750,169 | ||||
Uniti Group L.P./Uniti Fiber Holdings, Inc./CSL Capital LLC: | ||||||
7.13%, 12/15/2024 (a)
|
3,692,000 | 3,818,746 | ||||
7.88%, 2/15/2025 (a)
|
23,273,000 | 24,926,779 | ||||
VICI Properties L.P./VICI Note Co.,
Inc. 3.50%, 2/15/2025 (a)
|
7,367,000 | 7,548,523 | ||||
XHR L.P. 6.38%, 8/15/2025 (a)
|
2,204,000 | 2,345,585 | ||||
197,095,346 | ||||||
RETAIL — 4.7% | ||||||
1011778 BC ULC/New Red Finance, Inc.: | ||||||
4.25%, 5/15/2024 (a)
|
5,651,000 | 5,714,913 | ||||
5.75%, 4/15/2025 (a)
|
6,913,000 | 7,321,005 | ||||
99 Escrow Issuer, Inc. 7.50%, 1/15/2026 (a)
|
4,062,000 | 3,949,767 | ||||
Abercrombie & Fitch Management Co. 8.75%, 7/15/2025 (a)
|
3,216,000 | 3,566,255 | ||||
Ambience Merger Sub, Inc. 4.88%, 7/15/2028 (a) (d)
|
1,920,000 | 1,924,800 | ||||
Carrols Restaurant Group, Inc. 5.88%, 7/1/2029 (a)
|
2,460,000 | 2,429,914 | ||||
Carvana Co. 5.63%, 10/1/2025 (a)
|
3,413,000 | 3,548,360 | ||||
CEC Entertainment LLC 6.75%, 5/1/2026 (a)
|
4,930,000 | 5,056,208 |
Security Description | Principal
Amount |
Value | |||
Dave & Buster's, Inc. 7.63%, 11/1/2025 (a)
|
$ 6,357,000 | $ 6,837,971 | |||
eG Global Finance PLC: | |||||
6.75%, 2/7/2025 (a)
|
6,279,000 | 6,488,091 | |||
8.50%, 10/30/2025 (a)
|
7,756,865 | 8,196,136 | |||
Ferrellgas L.P./Ferrellgas Finance
Corp. 5.38%, 4/1/2026 (a)
|
9,264,000 | 9,185,163 | |||
Gap, Inc.: | |||||
8.38%, 5/15/2023 (a) (c)
|
4,350,000 | 4,896,490 | |||
8.63%, 5/15/2025 (a)
|
12,719,000 | 13,948,546 | |||
Golden Nugget, Inc. 6.75%, 10/15/2024 (a)
|
19,029,000 | 19,167,151 | |||
Guitar Center, Inc. 8.50%, 1/15/2026 (a)
|
4,076,000 | 4,363,399 | |||
IRB Holding Corp.: | |||||
6.75%, 2/15/2026 (a)
|
2,261,000 | 2,341,899 | |||
7.00%, 6/15/2025 (a)
|
7,245,000 | 7,823,006 | |||
L Brands, Inc. 9.38%, 7/1/2025 (a)
|
6,555,000 | 8,467,683 | |||
LSF9 Atlantis Holdings LLC/Victra Finance
Corp. 7.75%, 2/15/2026 (a)
|
6,252,000 | 6,470,882 | |||
Macy's Retail Holdings LLC: | |||||
2.88%, 2/15/2023 (c)
|
5,230,000 | 5,272,258 | |||
3.63%, 6/1/2024 (c)
|
2,717,000 | 2,786,501 | |||
Macy's, Inc. 8.38%, 6/15/2025 (a)
|
16,575,000 | 18,250,069 | |||
NMG Holding Co., Inc./Neiman Marcus Group
LLC 7.13%, 4/1/2026 (a)
|
8,714,000 | 9,301,672 | |||
Party City Holdings, Inc. 8.75%, 2/15/2026 (a) (c)
|
4,695,000 | 5,024,965 | |||
Penske Automotive Group, Inc. 3.50%, 9/1/2025
|
236,000 | 244,423 | |||
QVC, Inc.: | |||||
4.38%, 3/15/2023
|
6,935,000 | 7,309,282 | |||
4.38%, 9/1/2028
|
1,215,000 | 1,240,114 | |||
4.45%, 2/15/2025
|
4,773,000 | 5,088,018 | |||
4.85%, 4/1/2024 (c)
|
3,128,000 | 3,394,975 | |||
Rite Aid Corp. 7.50%, 7/1/2025 (a)
|
9,286,000 | 9,423,804 | |||
Sally Holdings LLC/Sally Capital, Inc. 5.63%, 12/1/2025
|
8,087,000 | 8,349,423 | |||
Sizzling Platter LLC/Sizzling Platter Finance
Corp. 8.50%, 11/28/2025 (a)
|
3,701,000 | 3,813,880 |
Security Description | Principal
Amount |
Value | ||||
Staples, Inc. 7.50%, 4/15/2026 (a)
|
$ 19,571,000 | $ 20,277,709 | ||||
Yum! Brands, Inc.: | ||||||
3.75%, 11/1/2021
|
100,000 | 100,250 | ||||
7.75%, 4/1/2025 (a)
|
6,668,000 | 7,267,520 | ||||
238,842,502 | ||||||
SEMICONDUCTORS — 0.3% | ||||||
ams AG 7.00%, 7/31/2025 (a) (c)
|
5,483,000 | 5,902,723 | ||||
Microchip Technology, Inc.: | ||||||
0.97%, 2/15/2024 (a)
|
1,517,000 | 1,516,712 | ||||
4.25%, 9/1/2025
|
8,975,000 | 9,426,353 | ||||
16,845,788 | ||||||
SOFTWARE — 1.6% | ||||||
Ascend Learning LLC 6.88%, 8/1/2025 (a) (c)
|
3,006,000 | 3,063,956 | ||||
Boxer Parent Co., Inc.: | ||||||
7.13%, 10/2/2025 (a)
|
7,655,000 | 8,193,070 | ||||
9.13%, 3/1/2026 (a)
|
5,447,000 | 5,746,313 | ||||
BY Crown Parent LLC 7.38%, 10/15/2024 (a)
|
2,486,000 | 2,529,977 | ||||
BY Crown Parent LLC/BY Bond Finance,
Inc. 4.25%, 1/31/2026 (a)
|
6,489,000 | 6,794,827 | ||||
Change Healthcare Holdings LLC/Change Healthcare
Finance, Inc. 5.75%, 3/1/2025 (a)
|
14,233,000 | 14,459,447 | ||||
Escrow RCN Corp. 11.63%, 4/15/2023
|
154,000 | 11,165 | ||||
Helios Software Holdings, Inc./ION Corporate
Solutions Finance Sarl 4.63%, 5/1/2028 (a)
|
828,000 | 812,218 | ||||
Marble II Pte, Ltd. Series REGS, 5.30%, 6/20/2022
|
7,545,000 | 7,548,244 | ||||
Open Text Corp. 5.88%, 6/1/2026 (a)
|
4,361,000 | 4,512,937 | ||||
PTC, Inc. 3.63%, 2/15/2025 (a)
|
3,961,000 | 4,079,275 | ||||
Riverbed Technology, Inc. 8.88%, 3/1/2023 (a)
|
279,000 | 190,630 | ||||
Veritas US, Inc./Veritas Bermuda, Ltd.: | ||||||
7.50%, 9/1/2025 (a)
|
19,156,000 | 19,940,055 |