NPORT-EX 2 NPORT_9W46_10895572_0124.htm EDGAR HTML
Schedule of Investments High Yield Strategies Fund Inc.^ (Unaudited) 
January 31, 2024

 
Principal Amount
Value
Mortgage-Backed Securities 0.2%
Commercial Mortgage-Backed 0.2%
$404,061
Med Trust, Series 2021-MDLN, Class F, (1 mo. USD Term SOFR + 4.11%), 9.45%, due 11/15/2038
(Cost $391,939)
$396,990
(a)(b)
Asset-Backed Securities 1.5%
500,000
ALM Ltd., Series 2020-1A, Class D, (3 mo. USD Term SOFR + 6.26%), 11.58%, due 10/15/2029
498,435
(a)(b)
350,000
Cedar Funding X CLO Ltd., Series 2019-10A, Class ER, (3 mo. USD Term SOFR + 6.76%), 12.08%,
due 10/20/2032
336,397
(a)(b)
250,000
Crown City CLO II, Series 2020-2A, Class DR, (3 mo. USD Term SOFR + 7.11%), 12.43%, due
4/20/2035
241,262
(a)(b)
750,000
Oaktree CLO Ltd., Series 2024-25A, Class E, (3 mo. USD Term SOFR + 6.59%), 6.59%, due
4/20/2037
742,500
(a)(b)(c)
1,000,000
Octagon Investment Partners 39 Ltd., Series 2018-3A, Class D, (3 mo. USD Term SOFR + 3.21%),
8.53%, due 10/20/2030
991,493
(a)(b)
250,000
Voya CLO Ltd., Series 2019-2A, Class E, (3 mo. USD Term SOFR + 6.86%), 12.18%, due 7/20/2032
246,672
(a)(b)
Total Asset-Backed Securities (Cost $2,999,905)
3,056,759
Corporate Bonds 132.3%
Advertising 0.6%
 
Clear Channel Outdoor Holdings, Inc.
465,000
5.13%, due 8/15/2027
437,933
(a)
175,000
7.75%, due 4/15/2028
151,716
(a)
420,000
9.00%, due 9/15/2028
436,618
(a)
200,000
Summer BC Bidco B LLC, 5.50%, due 10/31/2026
192,764
(a)
 
1,219,031
Aerospace & Defense 3.0%
 
Bombardier, Inc.
452,000
7.88%, due 4/15/2027
451,422
(a)
530,000
6.00%, due 2/15/2028
516,355
(a)
215,000
8.75%, due 11/15/2030
225,633
(a)
 
TransDigm, Inc.
655,000
6.25%, due 3/15/2026
650,545
(a)
1,525,000
5.50%, due 11/15/2027
1,483,686
1,605,000
6.75%, due 8/15/2028
1,631,262
(a)
1,300,000
6.88%, due 12/15/2030
1,330,433
(a)
 
6,289,336
Agriculture 0.1%
170,000
Darling Ingredients, Inc., 6.00%, due 6/15/2030
168,951
(a)
Airlines 2.9%
470,000
Air Canada, 3.88%, due 8/15/2026
447,007
(a)
185,000
American Airlines, Inc., 7.25%, due 2/15/2028
187,509
(a)
 
American Airlines, Inc./AAdvantage Loyalty IP Ltd.
806,250
5.50%, due 4/20/2026
797,390
(a)
1,335,000
5.75%, due 4/20/2029
1,311,010
(a)
 
Latam Airlines Group SA
285,000
13.38%, due 10/15/2027
319,197
(a)
360,000
13.38%, due 10/15/2029
414,187
(a)
 
United Airlines, Inc.
1,225,000
4.38%, due 4/15/2026
1,181,685
(a)
See Notes to Schedule of Investments
Schedule of Investments High Yield Strategies Fund Inc.^ (Unaudited)  (cont’d)
Principal Amount
Value
Airlines – cont'd
$465,000
4.63%, due 4/15/2029
$430,140
(a)
 
VistaJet Malta Finance PLC/Vista Management Holding, Inc.
230,000
9.50%, due 6/1/2028
194,895
(a)
1,025,000
6.38%, due 2/1/2030
741,895
(a)
 
6,024,915
Apparel 0.1%
30,000
William Carter Co., 5.63%, due 3/15/2027
29,443
(a)
135,000
Wolverine World Wide, Inc., 4.00%, due 8/15/2029
108,783
(a)
 
138,226
Auto Manufacturers 1.2%
 
Ford Motor Co.
250,000
9.63%, due 4/22/2030
293,183
300,000
6.10%, due 8/19/2032
300,620
385,000
7.40%, due 11/1/2046
417,546
 
Ford Motor Credit Co. LLC
510,000
(Secured Overnight Financing Rate + 2.95%), 8.31%, due 3/6/2026
523,213
(b)
360,000
5.11%, due 5/3/2029
349,766
200,000
3.63%, due 6/17/2031
172,102
 
Jaguar Land Rover Automotive PLC
425,000
5.88%, due 1/15/2028
417,694
(a)
30,000
5.50%, due 7/15/2029
28,756
(a)
 
2,502,880
Auto Parts & Equipment 3.3%
855,000
Adient Global Holdings Ltd., 8.25%, due 4/15/2031
902,961
(a)
 
Dana, Inc.
415,000
5.38%, due 11/15/2027
404,998
110,000
5.63%, due 6/15/2028
106,463
1,135,000
4.50%, due 2/15/2032
975,828
325,000
Dornoch Debt Merger Sub, Inc., 6.63%, due 10/15/2029
295,009
(a)
 
Goodyear Tire & Rubber Co.
30,000
5.00%, due 5/31/2026
29,417
575,000
5.00%, due 7/15/2029
539,666
570,000
5.25%, due 7/15/2031
518,831
755,000
5.63%, due 4/30/2033
683,141
 
IHO Verwaltungs GmbH
2,095,000
4.75% Cash/5.50% PIK, due 9/15/2026
2,048,114
(a)(d)
30,000
6.38% Cash/7.13% PIK, due 5/15/2029
29,823
(a)(d)
 
ZF North America Capital, Inc.
420,000
6.88%, due 4/14/2028
432,641
(a)
30,000
7.13%, due 4/14/2030
31,649
(a)
 
6,998,541
Banks 1.1%
450,000
Bank of America Corp., 6.13%, due 4/27/2027
448,110
(e)(f)
390,000
Bank of New York Mellon Corp., 3.70%, due 3/20/2026
367,565
(e)(f)
1,185,000
JPMorgan Chase & Co., 4.60%, due 2/1/2025
1,154,462
(e)(f)
460,000
PNC Financial Services Group, Inc., 3.40%, due 9/15/2026
395,971
(e)(f)
 
2,366,108
See Notes to Schedule of Investments
Schedule of Investments High Yield Strategies Fund Inc.^ (Unaudited)  (cont’d)
Principal Amount
Value
Building Materials 4.7%
 
Builders FirstSource, Inc.
$30,000
5.00%, due 3/1/2030
$28,798
(a)
565,000
6.38%, due 6/15/2032
576,237
(a)
1,740,000
Camelot Return Merger Sub, Inc., 8.75%, due 8/1/2028
1,783,789
(a)
340,000
Cornerstone Building Brands, Inc., 6.13%, due 1/15/2029
302,209
(a)
905,000
Emerald Debt Merger Sub LLC, 6.63%, due 12/15/2030
914,113
(a)
1,065,000
Jeld-Wen, Inc., 4.88%, due 12/15/2027
1,009,850
(a)
850,000
Knife River Corp., 7.75%, due 5/1/2031
892,839
(a)
 
Masonite International Corp.
1,310,000
5.38%, due 2/1/2028
1,277,342
(a)
205,000
3.50%, due 2/15/2030
176,359
(a)
725,000
MIWD Holdco II LLC/MIWD Finance Corp., 5.50%, due 2/1/2030
659,750
(a)
455,000
Oscar AcquisitionCo LLC/Oscar Finance, Inc., 9.50%, due 4/15/2030
440,514
(a)
1,010,000
Standard Industries, Inc., 4.38%, due 7/15/2030
917,840
(a)
 
Summit Materials LLC/Summit Materials Finance Corp.
250,000
5.25%, due 1/15/2029
242,113
(a)
500,000
7.25%, due 1/15/2031
519,463
(a)
 
9,741,216
Chemicals 5.8%
705,000
Ashland, Inc., 3.38%, due 9/1/2031
594,947
(a)
1,015,000
Avient Corp., 7.13%, due 8/1/2030
1,041,114
(a)
755,000
Axalta Coating Systems Dutch Holding B BV, 7.25%, due 2/15/2031
786,408
(a)
360,000
Illuminate Buyer LLC/Illuminate Holdings IV, Inc., 9.00%, due 7/1/2028
351,866
(a)
 
INEOS Finance PLC
1,095,000
6.75%, due 5/15/2028
1,070,829
(a)
225,000
7.50%, due 4/15/2029
223,481
440,000
INEOS Quattro Finance 2 PLC, 9.63%, due 3/15/2029
462,053
(a)
 
NOVA Chemicals Corp.
393,000
4.88%, due 6/1/2024
391,031
(a)
606,000
5.25%, due 6/1/2027
563,552
(a)
230,000
8.50%, due 11/15/2028
240,690
(a)
 
Olympus Water U.S. Holding Corp.
305,000
7.13%, due 10/1/2027
306,096
(a)
700,000
4.25%, due 10/1/2028
638,890
(a)
575,000
9.75%, due 11/15/2028
608,335
(a)
725,000
6.25%, due 10/1/2029
663,630
(a)
680,000
SCIH Salt Holdings, Inc., 4.88%, due 5/1/2028
631,434
(a)
990,000
SCIL IV LLC/SCIL USA Holdings LLC, 5.38%, due 11/1/2026
962,368
(a)
 
SNF Group SACA
160,000
3.13%, due 3/15/2027
147,747
(a)
100,000
3.38%, due 3/15/2030
85,887
(a)
630,000
Tronox, Inc., 4.63%, due 3/15/2029
556,231
(a)
1,020,000
Vibrantz Technologies, Inc., 9.00%, due 2/15/2030
846,600
(a)
 
WR Grace Holdings LLC
775,000
5.63%, due 8/15/2029
683,341
(a)
210,000
7.38%, due 3/1/2031
213,952
(a)
 
12,070,482
Commercial Services 5.5%
 
ADT Security Corp.
30,000
4.13%, due 8/1/2029
27,684
(a)
See Notes to Schedule of Investments
Schedule of Investments High Yield Strategies Fund Inc.^ (Unaudited)  (cont’d)
Principal Amount
Value
Commercial Services – cont'd
$310,000
4.88%, due 7/15/2032
$284,038
(a)
 
Allied Universal Holdco LLC/Allied Universal Finance Corp.
510,000
6.63%, due 7/15/2026
502,536
(a)
1,170,000
6.00%, due 6/1/2029
971,439
(a)
495,000
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL, 4.63%, due 6/1/2028
445,530
(a)
35,000
APi Group DE, Inc., 4.13%, due 7/15/2029
32,027
(a)
 
APX Group, Inc.
90,000
6.75%, due 2/15/2027
89,998
(a)
1,345,000
5.75%, due 7/15/2029
1,277,339
(a)
525,000
Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 8.00%, due 2/15/2031
523,898
(a)
 
Garda World Security Corp.
80,000
7.75%, due 2/15/2028
81,411
(a)
550,000
6.00%, due 6/1/2029
482,983
(a)
1,355,000
GTCR W-2 Merger Sub LLC, 7.50%, due 1/15/2031
1,407,601
(a)
345,000
Herc Holdings, Inc., 5.50%, due 7/15/2027
338,766
(a)
1,525,000
Neptune Bidco U.S., Inc., 9.29%, due 4/15/2029
1,456,696
(a)
1,040,000
Prime Security Services Borrower LLC/Prime Finance, Inc., 6.25%, due 1/15/2028
1,030,629
(a)
 
United Rentals North America, Inc.
30,000
4.00%, due 7/15/2030
27,432
15,000
3.75%, due 1/15/2032
13,173
1,055,000
Wand NewCo 3, Inc., 7.63%, due 1/30/2032
1,089,604
(a)
700,000
Williams Scotsman, Inc., 7.38%, due 10/1/2031
733,217
(a)
705,000
ZipRecruiter, Inc., 5.00%, due 1/15/2030
627,959
(a)
 
11,443,960
Computers 1.2%
860,000
Ahead DB Holdings LLC, 6.63%, due 5/1/2028
755,725
(a)
155,000
ASGN, Inc., 4.63%, due 5/15/2028
146,595
(a)
725,000
McAfee Corp., 7.38%, due 2/15/2030
657,004
(a)
940,000
Presidio Holdings, Inc., 8.25%, due 2/1/2028
932,133
(a)
 
2,491,457
Cosmetics - Personal Care 0.6%
 
Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International U.S. LLC
310,000
4.75%, due 1/15/2029
295,492
(a)
910,000
6.63%, due 7/15/2030
926,899
(a)
 
1,222,391
Distribution - Wholesale 3.5%
1,310,000
BCPE Empire Holdings, Inc., 7.63%, due 5/1/2027
1,251,417
(a)
915,000
Dealer Tire LLC/DT Issuer LLC, 8.00%, due 2/1/2028
906,454
(a)
515,000
H&E Equipment Services, Inc., 3.88%, due 12/15/2028
467,616
(a)
1,195,000
Resideo Funding, Inc., 4.00%, due 9/1/2029
1,035,489
(a)
 
Ritchie Bros Holdings, Inc.
355,000
6.75%, due 3/15/2028
362,125
(a)
825,000
7.75%, due 3/15/2031
869,401
(a)
975,000
Verde Purchaser LLC, 10.50%, due 11/30/2030
1,006,824
(a)
1,395,000
Windsor Holdings III LLC, 8.50%, due 6/15/2030
1,436,159
(a)
 
7,335,485
Diversified Financial Services 1.1%
185,000
Ally Financial, Inc., 5.75%, due 11/20/2025
185,501
815,000
Avolon Holdings Funding Ltd., 6.38%, due 5/4/2028
833,433
(a)
See Notes to Schedule of Investments
Schedule of Investments High Yield Strategies Fund Inc.^ (Unaudited)  (cont’d)
Principal Amount
Value
Diversified Financial Services – cont'd
$195,000
LPL Holdings, Inc., 4.00%, due 3/15/2029
$179,716
(a)
 
OneMain Finance Corp.
175,000
7.13%, due 3/15/2026
177,386
555,000
6.63%, due 1/15/2028
553,056
380,000
3.88%, due 9/15/2028
333,486
130,000
9.00%, due 1/15/2029
136,924
 
2,399,502
Electric 4.1%
 
Calpine Corp.
260,000
5.13%, due 3/15/2028
248,096
(a)
30,000
4.63%, due 2/1/2029
27,736
(a)
715,000
5.00%, due 2/1/2031
648,659
(a)
170,000
Clearway Energy Operating LLC, 3.75%, due 1/15/2032
144,389
(a)
1,005,000
Leeward Renewable Energy Operations LLC, 4.25%, due 7/1/2029
907,816
(a)
 
NRG Energy, Inc.
1,255,000
10.25%, due 3/15/2028
1,322,668
(a)(e)(f)
665,000
5.25%, due 6/15/2029
637,642
(a)
550,000
3.63%, due 2/15/2031
471,759
(a)
40,000
3.88%, due 2/15/2032
34,302
(a)
760,000
TransAlta Corp., 7.75%, due 11/15/2029
799,003
940,000
Vistra Corp., 7.00%, due 12/15/2026
911,800
(a)(e)(f)
 
Vistra Operations Co. LLC
350,000
5.50%, due 9/1/2026
346,797
(a)
495,000
4.38%, due 5/1/2029
454,513
(a)
1,495,000
7.75%, due 10/15/2031
1,552,999
(a)
 
8,508,179
Electrical Components & Equipment 0.7%
 
Energizer Holdings, Inc.
345,000
6.50%, due 12/31/2027
343,430
(a)
530,000
4.75%, due 6/15/2028
493,165
(a)
625,000
EnerSys, 6.63%, due 1/15/2032
632,264
(a)
 
1,468,859
Electronics 1.1%
1,735,000
Imola Merger Corp., 4.75%, due 5/15/2029
1,615,544
(a)
190,000
Sensata Technologies BV, 5.88%, due 9/1/2030
187,772
(a)
550,000
TTM Technologies, Inc., 4.00%, due 3/1/2029
495,764
(a)
 
2,299,080
Energy - Alternate Sources 0.0%(g)
75,000
Sunnova Energy Corp., 5.88%, due 9/1/2026
62,250
(a)
Engineering & Construction 1.5%
475,000
Artera Services LLC, 9.03%, due 12/4/2025
484,305
(a)
435,000
Brand Industrial Services, Inc., 10.38%, due 8/1/2030
459,469
(a)
1,165,000
Global Infrastructure Solutions, Inc., 7.50%, due 4/15/2032
1,073,392
(a)
1,285,000
VM Consolidated, Inc., 5.50%, due 4/15/2029
1,225,659
(a)
 
3,242,825
Entertainment 8.1%
775,000
Allwyn Entertainment Financing U.K. PLC, 7.88%, due 4/30/2029
795,538
(a)
775,000
Banijay Entertainment SASU, 8.13%, due 5/1/2029
801,348
(a)
See Notes to Schedule of Investments
Schedule of Investments High Yield Strategies Fund Inc.^ (Unaudited)  (cont’d)
Principal Amount
Value
Entertainment – cont'd
 
Caesars Entertainment, Inc.
$445,000
8.13%, due 7/1/2027
$456,679
(a)
330,000
6.50%, due 2/15/2032
333,650
(a)(c)
225,000
Cedar Fair LP, 5.25%, due 7/15/2029
215,083
500,000
Cedar Fair LP/Canada's Wonderland Co./Magnum Management Corp./Millennium Op, 6.50%, due
10/1/2028
497,514
 
Churchill Downs, Inc.
335,000
4.75%, due 1/15/2028
319,066
(a)
1,720,000
6.75%, due 5/1/2031
1,739,565
(a)
930,000
Everi Holdings, Inc., 5.00%, due 7/15/2029
854,679
(a)
90,000
International Game Technology PLC, 6.25%, due 1/15/2027
90,532
(a)
 
Light & Wonder International, Inc.
475,000
7.00%, due 5/15/2028
474,440
(a)
645,000
7.25%, due 11/15/2029
662,344
(a)
580,000
7.50%, due 9/1/2031
603,520
(a)
 
Live Nation Entertainment, Inc.
680,000
6.50%, due 5/15/2027
686,983
(a)
615,000
4.75%, due 10/15/2027
585,831
(a)
160,000
3.75%, due 1/15/2028
147,800
(a)
300,000
Merlin Entertainments Group U.S. Holdings, Inc., 7.38%, due 2/15/2031
300,408
(a)(c)
200,000
Merlin Entertainments Ltd., 5.75%, due 6/15/2026
197,500
(a)
515,000
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp., 4.88%, due 5/1/2029
475,114
(a)
640,000
Motion Bondco DAC, 6.63%, due 11/15/2027
611,649
(a)
 
Penn Entertainment, Inc.
420,000
5.63%, due 1/15/2027
405,426
(a)
690,000
4.13%, due 7/1/2029
589,939
(a)
895,000
Raptor Acquisition Corp./Raptor Co.-Issuer LLC, 4.88%, due 11/1/2026
859,062
(a)
1,175,000
Scientific Games Holdings LP/Scientific Games U.S. FinCo, Inc., 6.63%, due 3/1/2030
1,104,500
(a)
1,875,000
SeaWorld Parks & Entertainment, Inc., 5.25%, due 8/15/2029
1,746,225
(a)
 
Six Flags Entertainment Corp.
365,000
5.50%, due 4/15/2027
363,142
(a)
1,070,000
7.25%, due 5/15/2031
1,091,400
(a)
 
17,008,937
Environmental Control 1.1%
300,000
Enviri Corp., 5.75%, due 7/31/2027
282,007
(a)
 
GFL Environmental, Inc.
35,000
3.50%, due 9/1/2028
31,682
(a)
405,000
4.38%, due 8/15/2029
371,435
(a)
375,000
6.75%, due 1/15/2031
383,542
(a)
 
Madison IAQ LLC
100,000
4.13%, due 6/30/2028
91,890
(a)
1,320,000
5.88%, due 6/30/2029
1,172,938
(a)
 
2,333,494
Food 2.8%
125,000
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 5.88%, due 2/15/2028
124,847
(a)
 
Performance Food Group, Inc.
950,000
5.50%, due 10/15/2027
926,534
(a)
555,000
4.25%, due 8/1/2029
508,566
(a)
 
Pilgrim's Pride Corp.
645,000
4.25%, due 4/15/2031
580,835
See Notes to Schedule of Investments
Schedule of Investments High Yield Strategies Fund Inc.^ (Unaudited)  (cont’d)
Principal Amount
Value
Food – cont'd
$1,300,000
3.50%, due 3/1/2032
$1,096,953
275,000
6.25%, due 7/1/2033
280,728
615,000
TreeHouse Foods, Inc., 4.00%, due 9/1/2028
548,580
 
U.S. Foods, Inc.
540,000
6.88%, due 9/15/2028
554,358
(a)
620,000
4.75%, due 2/15/2029
588,236
(a)
600,000
7.25%, due 1/15/2032
628,500
(a)
 
5,838,137
Forest Products & Paper 0.3%
640,000
Ahlstrom Holding 3 Oyj, 4.88%, due 2/4/2028
573,841
(a)
Hand - Machine Tools 0.6%
 
Regal Rexnord Corp.
505,000
6.30%, due 2/15/2030
519,085
(a)(h)
690,000
6.40%, due 4/15/2033
717,067
(a)(h)
 
1,236,152
Healthcare - Products 0.9%
490,000
Bausch & Lomb Escrow Corp., 8.38%, due 10/1/2028
508,409
(a)
 
Medline Borrower LP
815,000
3.88%, due 4/1/2029
737,904
(a)
720,000
5.25%, due 10/1/2029
671,335
(a)
 
1,917,648
Healthcare - Services 5.4%
 
Catalent Pharma Solutions, Inc.
565,000
3.13%, due 2/15/2029
496,779
(a)
240,000
3.50%, due 4/1/2030
210,914
(a)
 
CHS/Community Health Systems, Inc.
160,000
5.63%, due 3/15/2027
147,805
(a)
97,000
8.00%, due 12/15/2027
95,524
(a)
40,000
6.00%, due 1/15/2029
36,141
(a)
500,000
5.25%, due 5/15/2030
413,962
(a)
480,000
4.75%, due 2/15/2031
381,048
(a)
400,000
10.88%, due 1/15/2032
418,435
(a)
 
DaVita, Inc.
270,000
4.63%, due 6/1/2030
238,889
(a)
555,000
3.75%, due 2/15/2031
457,536
(a)
 
Encompass Health Corp.
30,000
4.50%, due 2/1/2028
28,656
330,000
4.63%, due 4/1/2031
303,180
220,000
Fortrea Holdings, Inc., 7.50%, due 7/1/2030
223,590
(a)
370,000
HealthEquity, Inc., 4.50%, due 10/1/2029
345,451
(a)
710,000
Legacy LifePoint Health LLC, 4.38%, due 2/15/2027
661,237
(a)
385,000
LifePoint Health, Inc., 9.88%, due 8/15/2030
393,690
(a)
335,000
RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc., 9.75%, due 12/1/2026
334,418
(a)
650,000
Select Medical Corp., 6.25%, due 8/15/2026
649,826
(a)
605,000
Star Parent, Inc., 9.00%, due 10/1/2030
636,160
(a)
1,055,000
Team Health Holdings, Inc., 9.00% Cash/4.50% PIK, due 6/30/2028
1,033,900
(a)(d)(i)
 
Tenet Healthcare Corp.
440,000
5.13%, due 11/1/2027
427,247
895,000
6.13%, due 10/1/2028
891,706
See Notes to Schedule of Investments
Schedule of Investments High Yield Strategies Fund Inc.^ (Unaudited)  (cont’d)
Principal Amount
Value
Healthcare - Services – cont'd
$600,000
6.13%, due 6/15/2030
$599,776
1,470,000
6.75%, due 5/15/2031
1,503,571
(a)
490,000
U.S. Acute Care Solutions LLC, 6.38%, due 3/1/2026
428,167
(a)
 
11,357,608
Holding Companies - Diversified 0.4%
790,000
Benteler International AG, 10.50%, due 5/15/2028
843,082
(a)
Home Builders 1.7%
910,000
KB Home, 7.25%, due 7/15/2030
935,225
 
Mattamy Group Corp.
160,000
5.25%, due 12/15/2027
154,380
(a)
385,000
4.63%, due 3/1/2030
351,004
(a)
 
Shea Homes LP/Shea Homes Funding Corp.
1,210,000
4.75%, due 2/15/2028
1,148,866
315,000
4.75%, due 4/1/2029
295,454
370,000
Taylor Morrison Communities, Inc., 5.13%, due 8/1/2030
352,403
(a)
215,000
Thor Industries, Inc., 4.00%, due 10/15/2029
190,285
(a)
30,000
Tri Pointe Homes, Inc., 5.25%, due 6/1/2027
29,496
 
3,457,113
Housewares 0.3%
 
Newell Brands, Inc.
455,000
5.20%, due 4/1/2026
442,928
(h)
310,000
6.38%, due 4/1/2036
275,928
(h)
 
718,856
Insurance 3.9%
530,000
Acrisure LLC/Acrisure Finance, Inc., 8.25%, due 2/1/2029
531,358
(a)
 
Alliant Holdings Intermediate LLC/Alliant Holdings Co.-Issuer
1,310,000
6.75%, due 10/15/2027
1,278,979
(a)
405,000
7.00%, due 1/15/2031
409,293
(a)
135,000
AmWINS Group, Inc., 4.88%, due 6/30/2029
126,002
(a)
990,000
AssuredPartners, Inc., 5.63%, due 1/15/2029
934,972
(a)
875,000
BroadStreet Partners, Inc., 5.88%, due 4/15/2029
829,707
(a)
1,050,000
GTCR AP Finance, Inc., 8.00%, due 5/15/2027
1,051,984
(a)
 
HUB International Ltd.
1,425,000
7.25%, due 6/15/2030
1,465,851
(a)
565,000
7.38%, due 1/31/2032
578,614
(a)
430,000
Ryan Specialty LLC, 4.38%, due 2/1/2030
398,415
(a)
515,000
USI, Inc., 7.50%, due 1/15/2032
522,081
(a)
 
8,127,256
Internet 3.1%
1,295,000
EquipmentShare.com, Inc., 9.00%, due 5/15/2028
1,314,036
(a)
 
Gen Digital, Inc.
390,000
6.75%, due 9/30/2027
395,918
(a)
470,000
7.13%, due 9/30/2030
487,573
(a)
645,000
Go Daddy Operating Co. LLC/GD Finance Co., Inc., 5.25%, due 12/1/2027
633,261
(a)
 
Match Group Holdings II LLC
495,000
4.63%, due 6/1/2028
465,953
(a)
545,000
5.63%, due 2/15/2029
529,985
(a)
180,000
4.13%, due 8/1/2030
161,957
(a)
See Notes to Schedule of Investments
Schedule of Investments High Yield Strategies Fund Inc.^ (Unaudited)  (cont’d)
Principal Amount
Value
Internet – cont'd
$200,000
Newfold Digital Holdings Group, Inc., 6.00%, due 2/15/2029
$151,250
(a)
 
Northwest Fiber LLC/Northwest Fiber Finance Sub, Inc.
465,000
4.75%, due 4/30/2027
447,394
(a)
275,000
6.00%, due 2/15/2028
261,937
(a)
395,000
10.75%, due 6/1/2028
403,781
(a)
1,370,000
Ziff Davis, Inc., 4.63%, due 10/15/2030
1,254,501
(a)
 
6,507,546
Iron - Steel 0.9%
 
ATI, Inc.
160,000
5.88%, due 12/1/2027
156,011
30,000
4.88%, due 10/1/2029
27,718
530,000
7.25%, due 8/15/2030
545,408
 
Carpenter Technology Corp.
75,000
6.38%, due 7/15/2028
74,911
620,000
7.63%, due 3/15/2030
641,266
630,000
TMS International Corp., 6.25%, due 4/15/2029
541,838
(a)
 
1,987,152
Leisure Time 3.6%
30,000
Acushnet Co., 7.38%, due 10/15/2028
31,202
(a)
 
Carnival Corp.
610,000
7.63%, due 3/1/2026
619,625
(a)
390,000
7.00%, due 8/15/2029
405,570
(a)
1,695,000
Carnival Holdings Bermuda Ltd., 10.38%, due 5/1/2028
1,854,262
(a)
380,000
Carnival PLC, 7.88%, due 6/1/2027
399,709
430,000
Lindblad Expeditions Holdings, Inc., 9.00%, due 5/15/2028
446,906
(a)
50,000
Lindblad Expeditions LLC, 6.75%, due 2/15/2027
49,566
(a)
 
NCL Corp. Ltd.
680,000
5.88%, due 2/15/2027
669,933
(a)
485,000
8.13%, due 1/15/2029
509,096
(a)
200,000
NCL Finance Ltd., 6.13%, due 3/15/2028
191,276
(a)
 
Royal Caribbean Cruises Ltd.
30,000
4.25%, due 7/1/2026
28,867
(a)
455,000
5.50%, due 4/1/2028
449,210
(a)
585,000
9.25%, due 1/15/2029
628,363
(a)
 
Viking Cruises Ltd.
370,000
5.88%, due 9/15/2027
356,613
(a)
305,000
9.13%, due 7/15/2031
326,350
(a)
230,000
Viking Ocean Cruises Ship VII Ltd., 5.63%, due 2/15/2029
223,963
(a)
305,000
VOC Escrow Ltd., 5.00%, due 2/15/2028
291,244
(a)
 
7,481,755
Lodging 0.3%
 
Station Casinos LLC
540,000
4.50%, due 2/15/2028
507,614
(a)
190,000
4.63%, due 12/1/2031
170,525
(a)
30,000
Wyndham Hotels & Resorts, Inc., 4.38%, due 8/15/2028
28,010
(a)
 
706,149
Machinery - Construction & Mining 0.6%
635,000
Manitowoc Co., Inc., 9.00%, due 4/1/2026
634,448
(a)
See Notes to Schedule of Investments
Schedule of Investments High Yield Strategies Fund Inc.^ (Unaudited)  (cont’d)
Principal Amount
Value
Machinery - Construction & Mining – cont'd
$700,000
Terex Corp., 5.00%, due 5/15/2029
$661,501
(a)
 
1,295,949
Machinery - Diversified 2.0%
555,000
ATS Corp., 4.13%, due 12/15/2028
503,859
(a)
 
Chart Industries, Inc.
1,730,000
7.50%, due 1/1/2030
1,775,878
(a)
95,000
9.50%, due 1/1/2031
101,320
(a)
1,025,000
SPX FLOW, Inc., 8.75%, due 4/1/2030
1,009,349
(a)
595,000
TK Elevator Holdco GmbH, 7.63%, due 7/15/2028
590,006
(a)
265,000
TK Elevator U.S. Newco, Inc., 5.25%, due 7/15/2027
255,517
(a)
 
4,235,929
Media 7.1%
 
Altice Financing SA
315,000
5.00%, due 1/15/2028
283,069
(a)
715,000
5.75%, due 8/15/2029
623,106
(a)
840,000
Cable One, Inc., 4.00%, due 11/15/2030
676,200
(a)
 
CCO Holdings LLC/CCO Holdings Capital Corp.
1,730,000
5.50%, due 5/1/2026
1,714,114
(a)
160,000
5.13%, due 5/1/2027
154,323
(a)
1,330,000
5.38%, due 6/1/2029
1,236,613
(a)
440,000
6.38%, due 9/1/2029
428,411
(a)
140,000
4.50%, due 8/15/2030
121,752
(a)
570,000
4.25%, due 2/1/2031
481,961
(a)
325,000
7.38%, due 3/1/2031
328,453
(a)
390,000
4.75%, due 2/1/2032
334,526
(a)
 
CSC Holdings LLC
510,000
5.50%, due 4/15/2027
458,227
(a)
525,000
5.38%, due 2/1/2028
451,020
(a)
440,000
11.25%, due 5/15/2028
445,841
(a)
1,385,000
11.75%, due 1/31/2029
1,406,786
(a)
345,000
6.50%, due 2/1/2029
293,272
(a)
560,000
5.75%, due 1/15/2030
296,402
(a)
880,000
4.13%, due 12/1/2030
635,800
(a)
275,000
4.63%, due 12/1/2030
140,561
(a)
110,000
5.00%, due 11/15/2031
55,369
(a)
 
DISH DBS Corp.
240,000
7.75%, due 7/1/2026
141,414
530,000
5.25%, due 12/1/2026
417,378
(a)
340,000
5.13%, due 6/1/2029
130,237
430,000
DISH Network Corp., 11.75%, due 11/15/2027
448,794
(a)
 
McGraw-Hill Education, Inc.
430,000
5.75%, due 8/1/2028
406,918
(a)
795,000
8.00%, due 8/1/2029
737,363
(a)
325,000
Midcontinent Communications/Midcontinent Finance Corp., 5.38%, due 8/15/2027
314,860
(a)
245,000
Radiate Holdco LLC/Radiate Finance, Inc., 6.50%, due 9/15/2028
105,460
(a)
 
Sirius XM Radio, Inc.
660,000
5.50%, due 7/1/2029
627,000
(a)
190,000
4.13%, due 7/1/2030
166,250
(a)
690,000
3.88%, due 9/1/2031
575,252
(a)
See Notes to Schedule of Investments
Schedule of Investments High Yield Strategies Fund Inc.^ (Unaudited)  (cont’d)
Principal Amount
Value
Media – cont'd
$190,000
TEGNA, Inc., 4.75%, due 3/15/2026
$184,842
(a)
 
14,821,574
Metal Fabricate - Hardware 0.3%
555,000
Advanced Drainage Systems, Inc., 6.38%, due 6/15/2030
559,595
(a)
Mining 2.3%
620,000
Arsenal AIC Parent LLC, 8.00%, due 10/1/2030
646,700
(a)
 
First Quantum Minerals Ltd.
310,000
6.88%, due 3/1/2026
295,288
(a)
200,000
6.88%, due 10/15/2027
181,098
(a)
670,000
8.63%, due 6/1/2031
621,425
(a)
 
FMG Resources August 2006 Pty. Ltd.
115,000
5.88%, due 4/15/2030
113,573
(a)
165,000
4.38%, due 4/1/2031
148,499
(a)
555,000
6.13%, due 4/15/2032
549,026
(a)
 
Hudbay Minerals, Inc.
935,000
4.50%, due 4/1/2026
906,019
(a)
895,000
6.13%, due 4/1/2029
883,588
(a)
470,000
Novelis Corp., 4.75%, due 1/30/2030
435,923
(a)
 
4,781,139
Miscellaneous Manufacturer 0.2%
305,000
Calderys Financing LLC, 11.25%, due 6/1/2028
324,192
(a)
Oil & Gas 7.2%
 
Ascent Resources Utica Holdings LLC/ARU Finance Corp.
725,000
7.00%, due 11/1/2026
724,576
(a)
520,000
8.25%, due 12/31/2028
531,898
(a)
250,000
5.88%, due 6/30/2029
235,485
(a)
 
Borr IHC Ltd./Borr Finance LLC
520,000
10.00%, due 11/15/2028
538,050
(a)
500,000
10.38%, due 11/15/2030
517,500
(a)
400,000
Chesapeake Energy Corp., 6.75%, due 4/15/2029
404,630
(a)
 
Civitas Resources, Inc.
875,000
8.38%, due 7/1/2028
920,248
(a)
1,125,000
8.63%, due 11/1/2030
1,199,879
(a)
1,000,000
8.75%, due 7/1/2031
1,063,104
(a)
 
Comstock Resources, Inc.
1,227,000
6.75%, due 3/1/2029
1,126,692
(a)
1,095,000
5.88%, due 1/15/2030
948,877
(a)
550,000
Diamond Foreign Asset Co./Diamond Finance LLC, 8.50%, due 10/1/2030
565,331
(a)
 
Hilcorp Energy I LP/Hilcorp Finance Co.
425,000
6.25%, due 11/1/2028
423,441
(a)
503,000
5.75%, due 2/1/2029
485,564
(a)
30,000
6.00%, due 4/15/2030
29,128
(a)
118,000
6.00%, due 2/1/2031
113,285
(a)
470,000
8.38%, due 11/1/2033
505,128
(a)
225,000
Nabors Industries Ltd., 7.50%, due 1/15/2028
205,875
(a)
 
Nabors Industries, Inc.
1,385,000
7.38%, due 5/15/2027
1,360,952
(a)
100,000
9.13%, due 1/31/2030
101,755
(a)
See Notes to Schedule of Investments
Schedule of Investments High Yield Strategies Fund Inc.^ (Unaudited)  (cont’d)
Principal Amount
Value
Oil & Gas – cont'd
 
Northern Oil & Gas, Inc.
$435,000
8.13%, due 3/1/2028
$441,771
(a)
85,000
8.75%, due 6/15/2031
88,838
(a)
 
Permian Resources Operating LLC
250,000
5.38%, due 1/15/2026
246,731
(a)
685,000
5.88%, due 7/1/2029
669,985
(a)
595,000
7.00%, due 1/15/2032
614,280
(a)
1,150,000
Rockcliff Energy II LLC, 5.50%, due 10/15/2029
1,070,690
(a)
 
15,133,693
Packaging & Containers 3.4%
 
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC
170,000
6.00%, due 6/15/2027
168,076
(a)
860,000
4.00%, due 9/1/2029
697,006
(a)
850,000
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., 5.25%, due 8/15/2027
635,360
(a)
175,000
Berry Global, Inc., 5.63%, due 7/15/2027
173,498
(a)
30,000
Intelligent Packaging Ltd. Finco, Inc./Intelligent Packaging Ltd. Co.-Issuer LLC, 6.00%, due 9/15/2028
28,206
(a)
 
Mauser Packaging Solutions Holding Co.
825,000
7.88%, due 8/15/2026
833,623
(a)
1,475,000
9.25%, due 4/15/2027
1,423,751
(a)
440,000
Pactiv Evergreen Group Issuer LLC/Pactiv Evergreen Group Issuer, Inc., 4.38%, due 10/15/2028
410,520
(a)
610,000
Pactiv Evergreen Group Issuer, Inc./Pactiv Evergreen Group Issuer LLC, 4.00%, due 10/15/2027
568,825
(a)
565,000
Trident TPI Holdings, Inc., 12.75%, due 12/31/2028
602,623
(a)
 
Trivium Packaging Finance BV
570,000
5.50%, due 8/15/2026
556,463
(a)
1,075,000
8.50%, due 8/15/2027
1,048,983
(a)
 
7,146,934
Pharmaceuticals 0.9%
475,000
180 Medical, Inc., 3.88%, due 10/15/2029
424,574
(a)
 
Bausch Health Cos., Inc.
440,000
5.50%, due 11/1/2025
404,358
(a)
250,000
9.00%, due 12/15/2025
235,953
(a)
295,000
6.13%, due 2/1/2027
186,664
(a)
155,000
5.75%, due 8/15/2027
92,586
(a)
495,000
Teva Pharmaceutical Finance Netherlands III BV, 7.88%, due 9/15/2029
533,915
 
1,878,050
Pipelines 11.6%
 
Antero Midstream Partners LP/Antero Midstream Finance Corp.
1,110,000
5.38%, due 6/15/2029
1,065,702
(a)
475,000
6.63%, due 2/1/2032
472,093
(a)
 
CQP Holdco LP/BIP-V Chinook Holdco LLC
1,655,000
5.50%, due 6/15/2031
1,544,030
(a)
510,000
7.50%, due 12/15/2033
522,785
(a)
1,205,000
DT Midstream, Inc., 4.13%, due 6/15/2029
1,107,091
(a)
915,000
Energy Transfer LP, 7.38%, due 2/1/2031
961,793
(a)
270,000
EnLink Midstream LLC, 6.50%, due 9/1/2030
275,527
(a)
 
EQM Midstream Partners LP
1,165,000
7.50%, due 6/1/2027
1,198,664
(a)
405,000
6.50%, due 7/1/2027
409,942
(a)
825,000
5.50%, due 7/15/2028
817,488
See Notes to Schedule of Investments
Schedule of Investments High Yield Strategies Fund Inc.^ (Unaudited)  (cont’d)
Principal Amount
Value
Pipelines – cont'd
$405,000
7.50%, due 6/1/2030
$434,374
(a)
 
Genesis Energy LP/Genesis Energy Finance Corp.
30,000
6.25%, due 5/15/2026
29,861
890,000
7.75%, due 2/1/2028
892,376
580,000
8.25%, due 1/15/2029
596,249
390,000
8.88%, due 4/15/2030
408,027
880,000
Harvest Midstream I LP, 7.50%, due 9/1/2028
888,892
(a)
215,000
Hess Midstream Operations LP, 5.50%, due 10/15/2030
210,162
(a)
900,000
Howard Midstream Energy Partners LLC, 6.75%, due 1/15/2027
896,175
(a)
1,005,000
ITT Holdings LLC, 6.50%, due 8/1/2029
879,084
(a)
1,125,000
Kinetik Holdings LP, 5.88%, due 6/15/2030
1,105,037
(a)
2,050,000
New Fortress Energy, Inc., 6.50%, due 9/30/2026
1,986,096
(a)
 
NGL Energy Operating LLC/NGL Energy Finance Corp.
265,000
8.13%, due 2/15/2029
266,333
(a)(c)
285,000
8.38%, due 2/15/2032
287,100
(a)(c)
 
NuStar Logistics LP
400,000
5.75%, due 10/1/2025
399,000
305,000
6.00%, due 6/1/2026
304,298
800,000
Summit Midstream Holdings LLC/Summit Midstream Finance Corp., 9.00%, due 10/15/2026
800,080
(a)(h)
 
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.
1,000,000
6.00%, due 3/1/2027
983,750
(a)
255,000
5.50%, due 1/15/2028
245,481
(a)
455,000
7.38%, due 2/15/2029
453,869
(a)
160,000
6.00%, due 9/1/2031
147,375
(a)
 
Venture Global Calcasieu Pass LLC
580,000
3.88%, due 8/15/2029
518,383
(a)
565,000
4.13%, due 8/15/2031
499,641
(a)
 
Venture Global LNG, Inc.
665,000
8.13%, due 6/1/2028
672,108
(a)
775,000
9.50%, due 2/1/2029
823,080
(a)
540,000
8.38%, due 6/1/2031
545,312
(a)
500,000
9.88%, due 2/1/2032
525,813
(a)
 
24,173,071
Real Estate 1.5%
1,010,000
Cushman & Wakefield U.S. Borrower LLC, 8.88%, due 9/1/2031
1,054,258
(a)
915,000
Greystar Real Estate Partners LLC, 7.75%, due 9/1/2030
961,729
(a)
 
Realogy Group LLC/Realogy Co.-Issuer Corp.
476,000
5.75%, due 1/15/2029
353,559
(a)
985,000
5.25%, due 4/15/2030
692,532
(a)
 
3,062,078
Real Estate Investment Trusts 5.0%
715,000
Blackstone Mortgage Trust, Inc., 3.75%, due 1/15/2027
630,382
(a)
425,000
EPR Properties, 3.75%, due 8/15/2029
379,057
 
Iron Mountain, Inc.
500,000
5.25%, due 3/15/2028
484,903
(a)
245,000
5.00%, due 7/15/2028
234,388
(a)
375,000
4.88%, due 9/15/2029
350,421
(a)
350,000
5.63%, due 7/15/2032
328,690
(a)
 
MPT Operating Partnership LP/MPT Finance Corp.
780,000
5.25%, due 8/1/2026
659,859
See Notes to Schedule of Investments
Schedule of Investments High Yield Strategies Fund Inc.^ (Unaudited)  (cont’d)
Principal Amount
Value
Real Estate Investment Trusts – cont'd
$660,000
5.00%, due 10/15/2027
$499,546
635,000
Necessity Retail REIT, Inc./American Finance Operating Partner LP, 4.50%, due 9/30/2028
537,326
(a)
1,000,000
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co.-Issuer, 5.88%, due
10/1/2028
972,500
(a)
 
RHP Hotel Properties LP/RHP Finance Corp.
515,000
7.25%, due 7/15/2028
530,865
(a)
30,000
4.50%, due 2/15/2029
27,888
(a)
685,000
RLJ Lodging Trust LP, 4.00%, due 9/15/2029
606,246
(a)
 
Service Properties Trust
260,000
5.50%, due 12/15/2027
244,562
285,000
3.95%, due 1/15/2028
240,409
895,000
8.63%, due 11/15/2031
948,965
(a)
1,165,000
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC, 10.50%, due 2/15/2028
1,185,913
(a)
 
VICI Properties LP/VICI Note Co., Inc.
166,000
4.25%, due 12/1/2026
159,817
(a)
35,000
4.13%, due 8/15/2030
31,852
(a)
 
XHR LP
885,000
6.38%, due 8/15/2025
885,292
(a)
455,000
4.88%, due 6/1/2029
419,651
(a)
 
10,358,532
Retail 4.6%
415,000
Asbury Automotive Group, Inc., 4.63%, due 11/15/2029
382,334
(a)
940,000
Bath & Body Works, Inc., 6.63%, due 10/1/2030
952,361
(a)
460,000
Carvana Co., 9.00% Cash/12.00% PIK, due 12/1/2028
408,646
(a)(d)
375,000
Foot Locker, Inc., 4.00%, due 10/1/2029
316,770
(a)
100,000
Foundation Building Materials, Inc., 6.00%, due 3/1/2029
87,875
(a)
425,000
Gap, Inc., 3.63%, due 10/1/2029
363,993
(a)
820,000
GYP Holdings III Corp., 4.63%, due 5/1/2029
759,574
(a)
 
Macy's Retail Holdings LLC
355,000
5.88%, due 4/1/2029
344,350
(a)
105,000
5.88%, due 3/15/2030
99,566
(a)
330,000
6.13%, due 3/15/2032
311,388
(a)
435,000
4.50%, due 12/15/2034
364,824
135,000
5.13%, due 1/15/2042
106,979
315,000
Murphy Oil USA, Inc., 4.75%, due 9/15/2029
298,368
545,000
NMG Holding Co., Inc./Neiman Marcus Group LLC, 7.13%, due 4/1/2026
531,383
(a)
 
PetSmart, Inc./PetSmart Finance Corp.
405,000
4.75%, due 2/15/2028
378,336
(a)
905,000
7.75%, due 2/15/2029
874,848
(a)
 
SRS Distribution, Inc.
710,000
6.13%, due 7/1/2029
671,887
(a)
380,000
6.00%, due 12/1/2029
355,300
(a)
420,000
Victoria's Secret & Co., 4.63%, due 7/15/2029
355,101
(a)
510,000
White Cap Buyer LLC, 6.88%, due 10/15/2028
499,198
(a)
1,215,000
White Cap Parent LLC, 8.25% Cash/9.00% PIK, due 3/15/2026
1,213,566
(a)(d)
30,000
Yum! Brands, Inc., 4.75%, due 1/15/2030
28,805
(a)
 
9,705,452
Semiconductors 0.0%(g)
30,000
Amkor Technology, Inc., 6.63%, due 9/15/2027
30,228
(a)
See Notes to Schedule of Investments
Schedule of Investments High Yield Strategies Fund Inc.^ (Unaudited)  (cont’d)
Principal Amount
Value
Software 3.1%
$1,710,000
AthenaHealth Group, Inc., 6.50%, due 2/15/2030
$1,527,480
(a)
200,000
Central Parent LLC/CDK Global II LLC/CDK Financing Co., Inc., 8.00%, due 6/15/2029
205,264
(a)
150,000
Central Parent, Inc./CDK Global, Inc., 7.25%, due 6/15/2029
152,832
(a)
 
Cloud Software Group, Inc.
635,000
6.50%, due 3/31/2029
592,921
(a)
625,000
9.00%, due 9/30/2029
591,535
(a)
30,000
Fair Isaac Corp., 5.25%, due 5/15/2026
29,625
(a)
105,000
Open Text Corp., 3.88%, due 12/1/2029
94,697
(a)
490,000
Open Text Holdings, Inc., 4.13%, due 2/15/2030
443,499
(a)
 
Rackspace Technology Global, Inc.
2,380,000
3.50%, due 2/15/2028
932,017
(a)
385,000
5.38%, due 12/1/2028
119,801
(a)
1,330,000
UKG, Inc., 6.88%, due 2/1/2031
1,344,963
(a)(c)
515,000
ZoomInfo Technologies LLC/ZoomInfo Finance Corp., 3.88%, due 2/1/2029
457,583
(a)
 
6,492,217
Telecommunications 5.9%
1,070,000
Altice France Holding SA, 6.00%, due 2/15/2028
477,671
(a)
 
Altice France SA
1,170,000
8.13%, due 2/1/2027
1,045,757
(a)
390,000
5.50%, due 1/15/2028
304,497
(a)
1,055,000
5.50%, due 10/15/2029
777,286
(a)
190,000
Ciena Corp., 4.00%, due 1/31/2030
175,051
(a)
 
CommScope Technologies LLC
185,000
6.00%, due 6/15/2025
147,075
(a)
555,000
5.00%, due 3/15/2027
204,587
(a)
 
CommScope, Inc.
330,000
6.00%, due 3/1/2026
285,839
(a)
345,000
8.25%, due 3/1/2027
151,210
(a)
305,000
4.75%, due 9/1/2029
201,642
(a)
 
Frontier Communications Holdings LLC
305,000
5.88%, due 10/15/2027
293,358
(a)
325,000
5.00%, due 5/1/2028
299,935
(a)
1,185,000
5.88%, due 11/1/2029
1,004,151
895,000
8.75%, due 5/15/2030
916,831
(a)
290,000
8.75%, due 5/15/2030
297,074
(j)
 
Iliad Holding SASU
280,000
6.50%, due 10/15/2026
274,472
(a)
900,000
7.00%, due 10/15/2028
892,830
(a)
 
Level 3 Financing, Inc.
595,000
3.75%, due 7/15/2029
312,375
(a)
2,109,000
10.50%, due 5/15/2030
2,098,455
(a)
255,000
Lumen Technologies, Inc., 4.00%, due 2/15/2027
132,921
#
 
Telecom Italia Capital SA
145,000
7.20%, due 7/18/2036
145,584
145,000
7.72%, due 6/4/2038
149,652
140,000
U.S. Cellular Corp., 6.70%, due 12/15/2033
144,200
 
Viasat, Inc.
185,000
5.63%, due 4/15/2027
173,682
(a)
225,000
6.50%, due 7/15/2028
173,657
(a)
1,255,000
Vmed O2 U.K. Financing I PLC, 4.75%, due 7/15/2031
1,124,744
(a)
See Notes to Schedule of Investments
Schedule of Investments High Yield Strategies Fund Inc.^ (Unaudited)  (cont’d)
Principal Amount
Value
Telecommunications – cont'd
$225,000
Zayo Group Holdings, Inc., 4.00%, due 3/1/2027
$171,097
(a)
 
12,375,633
Transportation 0.5%
 
XPO, Inc.
660,000
6.25%, due 6/1/2028
660,789
(a)
335,000
7.13%, due 2/1/2032
341,493
(a)
 
1,002,282
Trucking & Leasing 0.2%
330,000
AerCap Global Aviation Trust, 6.50%, due 6/15/2045
327,935
(a)(e)
Water 0.4%
855,000
Solaris Midstream Holdings LLC, 7.63%, due 4/1/2026
856,385
(a)
Total Corporate Bonds (Cost $279,057,648)
276,649,268
Loan Assignments(b) 2.3%
Automotive 0.1%
157,615
First Brands Group LLC, Second Lien Term Loan, (3 mo. USD Term SOFR + 8.50%), due 3/30/2028
152,887
(k)(l)
Containers & Glass Products 0.2%
348,250
Trident TPI Holdings, Inc., Term Loan, (3 mo. USD Term SOFR + 4.50%), 9.85%, due 9/15/2028
347,379
Health Care 0.2%
96,012
Aveanna Healthcare LLC, Term Loan B, (3 mo. USD Term SOFR + 3.75%), due 7/17/2028
89,771
(k)(l)
 
National Mentor Holdings, Inc.
320,801
Term Loan, (1 mo. USD Term SOFR + 3.75%, 3 mo. USD Term SOFR + 3.75%), due 3/2/2028
291,490
(k)(l)
9,199
Term Loan C, (3 mo. USD Term SOFR + 3.75%), due 3/2/2028
8,358
(k)(l)
 
389,619
Industrial Equipment 0.3%
677,604
Engineered Machinery Holdings, Inc., Second Lien Term Loan, (3 mo. USD Term SOFR + 6.00%),
11.61%, due 5/21/2029
662,358
(m)
Oil & Gas 0.3%
582,877
Waterbridge Midstream Operating LLC, Term Loan B, (3 mo. USD Term SOFR + 5.75%), 11.34%, due
6/22/2026
582,393
Pipelines 0.4%
920,000
New Fortress Energy, Inc., Term Loan, (3 mo. USD Term SOFR + 5.00%), 10.32%, due 10/27/2028
919,540
Telecommunications 0.0%(g)
53,459
Lumen Technologies, Inc., Term Loan A, due 6/1/2028
53,459
(i)(k)(l)
Trading Companies & Distributors 0.2%
483,399
Fastlane Parent Co., Inc., Term Loan B, (1 mo. USD Term SOFR + 4.50%), 9.83%, due 9/29/2028
482,795
Utilities 0.6%
 
Lightstone Holdco LLC
1,272,867
Term Loan B, (3 mo. USD Term SOFR + 5.75%), 11.06%, due 1/29/2027
1,210,586
71,992
Term Loan C, (3 mo. USD Term SOFR + 5.75%), 11.06%, due 1/29/2027
68,469
 
1,279,055
Total Loan Assignments (Cost $4,747,298)
4,869,485
See Notes to Schedule of Investments
Schedule of Investments High Yield Strategies Fund Inc.^ (Unaudited)  (cont’d)
Principal Amount
Value
Convertible Bonds 0.2%
Media 0.2%
$612,000
DISH Network Corp., 3.38%, due 8/15/2026 (Cost $612,966)
$354,960
Number of Shares
 
Short-Term Investments 4.5%
Investment Companies 4.5%
 
9,520,371
State Street Institutional U.S. Government Money Market Fund Premier Class, 5.30%(n) 
(Cost $9,520,371)
9,520,371
Total Investments 141.0% (Cost $297,330,127)
294,847,833
Liabilities Less Other Assets (21.9)%
(45,812,632
)
Liquidation Preference of Mandatory Redeemable Preferred Shares (net of unamortized deferred issuance cost of
$62,016) (19.1%)
(39,937,984
)(o)
Net Assets Applicable to Common Stockholders 100.0%
$209,097,217
 
(a)
Securities were purchased under Rule 144A of the Securities Act of 1933, as amended, or are otherwise
restricted and, unless registered under the Securities Act of 1933 or exempted from registration, may only
be sold to qualified institutional investors or may have other restrictions on resale. At January 31, 2024,
these securities amounted to $249,125,778, which represents 119.1% of net assets applicable to common
stockholders of the Fund.
(b)
Variable or floating rate security. The interest rate shown was the current rate as of January 31, 2024 and
changes periodically.
(c)
When-issued security. Total value of all such securities at January 31, 2024 amounted to $3,274,954, which
represents 1.6% of net assets applicable to common stockholders of the Fund.
(d)
Payment-in-kind (PIK) security.
(e)
Security issued at a fixed coupon rate, which converts to a variable rate at a future date. Rate shown is the
rate in effect as of period end.
(f)
Perpetual security. Perpetual securities have no stated maturity date, but they may be called/redeemed by
the issuer. The date shown reflects the next call date.
(g)
Represents less than 0.05% of net assets of the Fund.
(h)
Step Bond. Coupon rate is a fixed rate for an initial period that either resets at a specific date or may reset in
the future contingent upon a predetermined trigger. The interest rate shown was the current rate as of
January 31, 2024.
(i)
Security fair valued as of January 31, 2024 in accordance with procedures approved by the valuation
designee. Total value of all such securities at January 31, 2024 amounted to $1,087,359, which represents
0.5% of net assets applicable to common stockholders of the Fund.
(j)
Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended.
Regulation S applies to securities offerings that are made outside of the United States and do not involve
directed selling efforts in the United States and as such may have restrictions on resale. Total value of all
such securities at January 31, 2024 amounted to $297,074, which represents 0.1% of net assets applicable
to common stockholders of the Fund.
(k)
All or a portion of this security was purchased on a delayed delivery basis.
See Notes to Schedule of Investments
Schedule of Investments High Yield Strategies Fund Inc.^ (Unaudited)  (cont’d)
(l)
All or a portion of this security had not settled as of January 31, 2024 and thus may not have an interest
rate in effect. Interest rates do not take effect until settlement.
(m)
Value determined using significant unobservable inputs.
(n)
Represents 7-day effective yield as of January 31, 2024.
(o)
Fair valued as of January 31, 2024 in accordance with procedures approved by the valuation designee.
#  This security is subject to restrictions on resale. Total value of all such securities at January 31, 2024 amounted to $132,921, which represents 0.1% of net assets applicable to common stockholders of the Fund. Acquisition dates shown with a range, if any, represent securities that were acquired over the period shown in the table. 
Restricted Security
Acquisition
Date(s)
Acquisition
Cost
Value as of
1/31/2024
Fair Value
Percentage
of Net Assets
Applicable
to Common
Stockholders
as of
1/31/2024
Lumen Technologies, Inc.
5/24/2022-5/2/2023
$237,520
$132,921
0.1%
See Notes to Schedule of Investments
Schedule of Investments High Yield Strategies Fund Inc.^ (Unaudited)  (cont’d)
 
POSITIONS BY COUNTRY
Country
Investments at
Value
Percentage of Net
Assets Applicable
to Common
Stockholders
United States
$247,957,820
118.6%
Canada
9,582,524
4.6%
France
4,654,016
2.2%
United Kingdom
3,567,378
1.7%
Germany
3,387,750
1.6%
Cayman Islands
3,056,759
1.5%
Luxembourg
2,678,156
1.3%
Netherlands
1,605,446
0.8%
Ireland
1,161,368
0.6%
Zambia
1,097,811
0.5%
Mexico
1,055,550
0.5%
Switzerland
936,790
0.4%
Austria
843,082
0.4%
Australia
811,098
0.4%
Czech Republic
795,538
0.4%
Chile
733,384
0.3%
Finland
573,841
0.3%
Israel
533,915
0.3%
Italy
295,236
0.1%
Liquidation Preference of Mandatory Redeemable Preferred Shares
(39,937,984)
(19.1)%
Short-Term Investments and Other Liabilities—Net
(36,292,261)
(17.4)%
 
$209,097,217
100.0%
See Notes to Schedule of Investments
Schedule of Investments High Yield Strategies Fund Inc.^ (Unaudited)  (cont’d)
The following is a summary, categorized by Level (see the Notes to Schedule of Investments), of inputs used to value the Fund’s investments as of January 31, 2024: 
Asset Valuation Inputs
Level 1
Level 2
Level 3(a)
Total
Investments:
 
 
 
 
Mortgage-Backed Securities#
$—
$396,990
$—
$396,990
Asset-Backed Securities
—
3,056,759
—
3,056,759
Corporate Bonds#
—
276,649,268
—
276,649,268
Loan Assignments
Industrial Equipment
—
—
662,358
662,358
Other Loan Assignments#
—
4,207,127
—
4,207,127
Total Loan Assignments
—
4,207,127
662,358
4,869,485
Convertible Bonds#
—
354,960
—
354,960
Short-Term Investments
—
9,520,371
—
9,520,371
Total Investments
$—
$294,185,475
$662,358
$294,847,833
 
#
The Schedule of Investments provides information on the industry or sector categorization as well as a
Positions by Country summary.
(a)
The following is a reconciliation between the beginning and ending balances of investments in which
significant unobservable inputs (Level 3) were used in determining value:
 
(000's
omitted)
Beginning
balance as
of 11/1/2023
Accrued
discounts/
(premiums)
Realized
gain/(loss)
Change
in unrealized
appreciation/
(depreciation)
Purchases
Sales
Transfers
into
Level 3
Transfers
out of
Level 3
Balance
as of
1/31/2024
Net change in
unrealized
appreciation/
(depreciation)
from
investments
still held as of
1/31/2024
Investments in
Securities:
 
 
 
 
 
 
 
 
 
 
Loan Assignments(1)
$657
$1
$—
$4
$—
$—
$—
$—
$662
$4
Total
$657
$1
$—
$4
$—
$—
$—
$—
$662
$4
(1) Securities categorized as Level 3 were valued using a single quotation obtained from a dealer. The
Fund does not have access to significant unobservable inputs and therefore cannot disclose such
inputs used in formulating such quotation.
The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund’s Mandatory Redeemable Preferred Shares as of January 31, 2024: 
Other Financial Instruments
Level 1
Level 2
Level 3
Total
Mandatory Redeemable Preferred Shares(a)
$—
$(40,000,000
)
$—
$(40,000,000
)
Total Mandatory Redeemable Preferred Shares
$—
$(40,000,000
)
$—
$(40,000,000
)
 
(a)
The Fund may hold liabilities in which the fair value approximates the carrying amount for financial
statement purposes.
 
^  A balance indicated with a "—", reflects either a zero balance or an amount that rounds to less than 1.
See Notes to Schedule of Investments
January 31, 2024
Notes to Schedule of Investments High Yield Strategies Fund Inc. (Unaudited) 
In accordance with Accounting Standards Codification 820 “Fair Value Measurement” (“ASC 820”), all investments held by Neuberger Berman High Yield Strategies Fund Inc. (the “Fund”) are carried at the value that Management believes the Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment under current market conditions. Various inputs, including the volume and level of activity for the asset or liability in the market, are considered in valuing the Fund's investments, some of which are discussed below. At times, Management may need to apply significant judgment to value investments in accordance with ASC 820. 
ASC 820 established a three-tier hierarchy of inputs to create a classification of value measurements for disclosure purposes. The three-tier hierarchy of inputs is summarized in the three broad Levels listed below. 
•
Level 1 – unadjusted quoted prices in active markets for identical investments
•
Level 2 – other observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, amortized cost, etc.)
•
Level 3 – unobservable inputs (including the Fund's own assumptions in determining the fair value of investments)
The inputs or methodology used for valuing an investment are not necessarily an indication of the risk associated with investing in those securities. 
The value of the Fund's investments in debt securities is determined by Management primarily by obtaining valuations from independent pricing services based on bid quotations, or if quotations are not available, by methods that include various considerations based on security type (generally Level 2 inputs). In addition to the consideration of yields or prices of securities of comparable quality, coupon, maturity and type, indications as to values from dealers, and general market conditions, the following is a description of other Level 2 inputs and related valuation techniques used by independent pricing services to value certain types of debt securities held by the Fund: 
Corporate Bonds. Inputs used to value corporate debt securities generally include relevant credit information, observed market movements, sector news, U.S. Treasury yield curve or relevant benchmark curve, and other market information, which may include benchmark yield curves, reported trades, broker-dealer quotes, issuer spreads, comparable securities, and reference data, such as market research publications, when available (“Other Market Information”).
Convertible Bonds. Inputs used to value convertible bonds generally include underlying stock data, conversion rates, credit specific details, relevant listed bond and preferred stock prices and Other Market Information.
Collateralized Loan Obligations (CLOs). The value of collateralized loan obligations is primarily determined by cash flow data, relevant loan pricing data and market color, and research from market participants and trading desks (Level 2 or 3 inputs).
Asset-Backed Securities and Mortgage-Backed Securities. Inputs used to value asset-backed securities generally include models that consider a number of factors, which may include the following: prepayment speeds, cash flows, spread adjustments and Other Market Information.
High Yield Securities. Inputs used to value high yield securities generally include a number of observations of equity and credit default swap curves related to the issuer and Other Market Information.
The value of loan assignments is determined by Management primarily by obtaining valuations from independent pricing services based on broker quotes (generally Level 2 or Level 3 inputs depending on the number of quotes available). 
The value of the Fund's Mandatory Redeemable Preferred Shares is estimated to be their liquidation preference (Level 2 inputs). 
For information on the Fund's significant accounting policies, please refer to the Fund's most recent stockholder reports.
Notes to Schedule of Investments High Yield Strategies Fund Inc. (Unaudited)  (cont’d)
Management has developed a process to periodically review information provided by independent pricing services for all types of securities. 
Investments in non-exchange traded investment companies are valued using the respective funds' daily calculated net asset value per share (Level 2 inputs), when available. 
If a valuation is not available from an independent pricing service, or if Management has reason to believe that the valuation received does not represent the amount the Fund might reasonably expect to receive on a current sale in an orderly transaction, Management seeks to obtain quotations from brokers or dealers (generally considered Level 2 or Level 3 inputs depending on the number of quotes available). If such quotations are not available, the security is valued using methods Management has approved in the good-faith belief that the resulting valuation will reflect the fair value of the security. Pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended, the Fund's Board of Directors designated Management as the Fund's valuation designee. As the Fund's valuation designee, Management is responsible for determining fair value in good faith for all Fund investments. Inputs and assumptions considered in determining fair value of a security based on Level 2 or Level 3 inputs may include, but are not limited to, the type of security; the initial cost of the security; the existence of any contractual restrictions on the security's disposition; the price and extent of public trading in similar securities of the issuer or of comparable companies; quotations or evaluated prices from broker-dealers or pricing services; information obtained from the issuer and analysts; an analysis of the company's or issuer's financial statements; an evaluation of the inputs that influence the issuer and the market(s) in which the security is purchased and sold. 
Fair value prices are necessarily estimates, and there is no assurance that such a price will be at or close to the price at which the security is next quoted or traded. 
For information on the Fund's significant accounting policies, please refer to the Fund's most recent stockholder reports.
Notes to Schedule of Investments High Yield Strategies Fund Inc. (Unaudited) (cont'd)
Legend
 
Benchmarks:
SOFR
= Secured Overnight Financing Rate
Other Abbreviations:
Management
= Neuberger Berman Investment Advisers LLC
 
Currency Abbreviations:
USD
= United States Dollar
For information on the Fund's significant accounting policies, please refer to the Fund's most recent stockholder reports.