Principal
Value
|
Description
|
Stated
Coupon
|
Stated
Maturity
|
Value
|
|
CORPORATE BONDS AND NOTES — 79.2%
|
|||||
|
Aerospace & Defense — 0.9%
|
|
|||
$342,000
|
Booz Allen Hamilton, Inc. (a)
|
3.88%
|
09/01/28
|
$323,947
|
|
3,412,000
|
TransDigm, Inc. (a)
|
6.25%
|
03/15/26
|
3,391,558
|
|
9,399,000
|
TransDigm, Inc. (a)
|
6.75%
|
08/15/28
|
9,564,545
|
|
|
|
13,280,050
|
|||
|
Agricultural Products — 0.1%
|
|
|||
1,877,000
|
Lamb Weston Holdings, Inc. (a)
|
4.88%
|
05/15/28
|
1,828,537
|
|
|
Alternative Carriers — 0.1%
|
|
|||
2,000,000
|
Level 3 Financing, Inc. (a)
|
4.25%
|
07/01/28
|
680,000
|
|
2,000,000
|
Level 3 Financing, Inc. (a)
|
3.63%
|
01/15/29
|
600,000
|
|
|
|
1,280,000
|
|||
|
Apparel Retail — 0.7%
|
|
|||
8,080,000
|
Nordstrom, Inc.
|
4.00%
|
03/15/27
|
7,575,848
|
|
2,854,000
|
Nordstrom, Inc.
|
4.38%
|
04/01/30
|
2,479,013
|
|
|
|
10,054,861
|
|||
|
Application Software — 2.3%
|
|
|||
6,328,000
|
Alteryx, Inc. (a)
|
8.75%
|
03/15/28
|
6,782,129
|
|
13,254,000
|
GoTo Group, Inc. (a)
|
5.50%
|
09/01/27
|
5,467,360
|
|
12,000,000
|
McAfee Corp. (a)
|
7.38%
|
02/15/30
|
10,887,569
|
|
3,487,000
|
Open Text Holdings, Inc. (a)
|
4.13%
|
12/01/31
|
3,100,665
|
|
3,424,000
|
RingCentral, Inc. (a)
|
8.50%
|
08/15/30
|
3,533,140
|
|
3,259,000
|
UKG, Inc. (a) (b)
|
6.88%
|
02/01/31
|
3,299,738
|
|
|
|
33,070,601
|
|||
|
Auto Parts & Equipment — 0.1%
|
|
|||
1,298,000
|
Wand NewCo 3, Inc. (a)
|
7.63%
|
01/30/32
|
1,341,392
|
|
|
Automobile Manufacturers — 0.6%
|
|
|||
6,631,000
|
Ford Motor Co.
|
9.63%
|
04/22/30
|
7,781,466
|
|
250,000
|
General Motors Co.
|
6.60%
|
04/01/36
|
269,616
|
|
|
|
8,051,082
|
|||
|
Broadcasting — 9.4%
|
|
|||
28,294,000
|
Gray Television, Inc. (a) (c)
|
5.88%
|
07/15/26
|
27,753,160
|
|
12,429,000
|
Gray Television, Inc. (a)
|
7.00%
|
05/15/27
|
12,163,206
|
|
28,936,000
|
iHeartCommunications, Inc.
|
8.38%
|
05/01/27
|
17,961,174
|
|
40,562,000
|
Nexstar Media, Inc. (a) (c)
|
5.63%
|
07/15/27
|
39,533,948
|
|
1,389,000
|
Scripps Escrow II, Inc. (a)
|
3.88%
|
01/15/29
|
1,195,644
|
|
8,355,000
|
Scripps Escrow, Inc. (a)
|
5.88%
|
07/15/27
|
7,540,555
|
|
13,895,000
|
Sinclair Television Group, Inc. (a) (c)
|
5.13%
|
02/15/27
|
13,078,201
|
|
1,000,000
|
Sinclair Television Group, Inc. (a)
|
4.13%
|
12/01/30
|
773,475
|
|
1,185,000
|
Sirius XM Radio, Inc. (a)
|
3.13%
|
09/01/26
|
1,107,021
|
|
857,000
|
Sirius XM Radio, Inc. (a)
|
5.50%
|
07/01/29
|
814,818
|
|
2,000,000
|
Sirius XM Radio, Inc. (a)
|
4.13%
|
07/01/30
|
1,751,600
|
|
5,000,000
|
Sirius XM Radio, Inc. (a)
|
3.88%
|
09/01/31
|
4,171,870
|
|
9,863,000
|
TEGNA, Inc.
|
4.63%
|
03/15/28
|
9,211,549
|
|
|
|
137,056,221
|
|||
|
Building Products — 0.7%
|
|
|||
1,000,000
|
American Builders & Contractors Supply Co., Inc. (a)
|
4.00%
|
01/15/28
|
938,204
|
|
500,000
|
American Builders & Contractors Supply Co., Inc. (a)
|
3.88%
|
11/15/29
|
446,025
|
|
100,000
|
Beacon Roofing Supply, Inc. (a)
|
4.13%
|
05/15/29
|
90,608
|
|
1,314,000
|
Beacon Roofing Supply, Inc. (a)
|
6.50%
|
08/01/30
|
1,334,582
|
Principal
Value
|
Description
|
Stated
Coupon
|
Stated
Maturity
|
Value
|
|
CORPORATE BONDS AND NOTES (Continued)
|
|||||
|
Building Products (Continued)
|
|
|||
$100,000
|
Builders FirstSource, Inc. (a)
|
4.25%
|
02/01/32
|
$89,531
|
|
1,392,000
|
Standard Industries, Inc. (a)
|
5.00%
|
02/15/27
|
1,353,442
|
|
1,426,000
|
Standard Industries, Inc. (a)
|
4.75%
|
01/15/28
|
1,365,214
|
|
2,492,000
|
Standard Industries, Inc. (a)
|
4.38%
|
07/15/30
|
2,266,841
|
|
1,000,000
|
Standard Industries, Inc. (a)
|
3.38%
|
01/15/31
|
851,240
|
|
1,000,000
|
TopBuild Corp. (a)
|
3.63%
|
03/15/29
|
905,632
|
|
|
|
9,641,319
|
|||
|
Cable & Satellite — 6.0%
|
|
|||
19,141,000
|
CCO Holdings LLC / CCO Holdings Capital Corp. (a) (c)
|
5.38%
|
06/01/29
|
17,811,932
|
|
4,139,000
|
CCO Holdings LLC / CCO Holdings Capital Corp. (a)
|
4.75%
|
03/01/30
|
3,680,905
|
|
9,707,000
|
CCO Holdings LLC / CCO Holdings Capital Corp. (a)
|
4.50%
|
08/15/30
|
8,448,489
|
|
2,445,000
|
CCO Holdings LLC / CCO Holdings Capital Corp. (a)
|
4.25%
|
02/01/31
|
2,068,974
|
|
7,781,000
|
CCO Holdings LLC / CCO Holdings Capital Corp. (a)
|
7.38%
|
03/01/31
|
7,868,536
|
|
1,000,000
|
CCO Holdings LLC / CCO Holdings Capital Corp. (a)
|
4.50%
|
05/01/32
|
834,890
|
|
3,379,000
|
CCO Holdings LLC / CCO Holdings Capital Corp. (a)
|
4.50%
|
06/01/33
|
2,774,366
|
|
819,000
|
CSC Holdings LLC (a)
|
5.50%
|
04/15/27
|
736,645
|
|
5,343,000
|
CSC Holdings LLC (a)
|
7.50%
|
04/01/28
|
3,562,967
|
|
1,481,000
|
CSC Holdings LLC (a)
|
11.25%
|
05/15/28
|
1,501,750
|
|
7,458,000
|
CSC Holdings LLC (a)
|
6.50%
|
02/01/29
|
6,347,678
|
|
20,250,000
|
CSC Holdings LLC (a)
|
5.75%
|
01/15/30
|
10,739,790
|
|
4,167,000
|
CSC Holdings LLC (a)
|
4.63%
|
12/01/30
|
2,132,924
|
|
26,014,000
|
CSC Holdings LLC (a) (c)
|
4.50%
|
11/15/31
|
18,692,521
|
|
1,000,000
|
CSC Holdings LLC (a)
|
5.00%
|
11/15/31
|
504,017
|
|
|
|
87,706,384
|
|||
|
Casinos & Gaming — 3.1%
|
|
|||
500,000
|
Boyd Gaming Corp.
|
4.75%
|
12/01/27
|
483,937
|
|
6,062,000
|
Boyd Gaming Corp. (a)
|
4.75%
|
06/15/31
|
5,574,276
|
|
1,426,000
|
Caesars Entertainment, Inc. (a)
|
8.13%
|
07/01/27
|
1,464,318
|
|
5,662,000
|
Caesars Entertainment, Inc. (a)
|
4.63%
|
10/15/29
|
5,180,208
|
|
173,000
|
Caesars Entertainment, Inc. (a)
|
7.00%
|
02/15/30
|
177,891
|
|
179,000
|
Churchill Downs, Inc. (a)
|
5.75%
|
04/01/30
|
173,310
|
|
19,458,000
|
Fertitta Entertainment LLC / Fertitta Entertainment Finance Co.,
Inc. (a)
|
6.75%
|
01/15/30
|
17,515,547
|
|
2,070,000
|
Light & Wonder International, Inc. (a)
|
7.50%
|
09/01/31
|
2,155,247
|
|
430,000
|
MGM Resorts International
|
6.75%
|
05/01/25
|
431,330
|
|
2,440,000
|
MGM Resorts International
|
5.75%
|
06/15/25
|
2,442,457
|
|
716,000
|
Scientific Games Holdings, L.P. / Scientific Games US FinCo,
Inc. (a)
|
6.63%
|
03/01/30
|
673,541
|
|
3,903,000
|
Station Casinos LLC (a)
|
4.50%
|
02/15/28
|
3,671,635
|
|
140,000
|
VICI Properties, L.P. / VICI Note Co., Inc. (a)
|
3.75%
|
02/15/27
|
132,545
|
|
100,000
|
VICI Properties, L.P. / VICI Note Co., Inc. (a)
|
3.88%
|
02/15/29
|
92,021
|
|
5,952,000
|
VICI Properties, L.P. / VICI Note Co., Inc. (a)
|
4.63%
|
12/01/29
|
5,636,990
|
|
|
|
45,805,253
|
|||
|
Commercial Printing — 0.1%
|
|
|||
629,000
|
LABL, Inc. (a)
|
10.50%
|
07/15/27
|
602,373
|
|
1,388,000
|
LABL, Inc. (a)
|
9.50%
|
11/01/28
|
1,386,137
|
|
|
|
1,988,510
|
Principal
Value
|
Description
|
Stated
Coupon
|
Stated
Maturity
|
Value
|
|
CORPORATE BONDS AND NOTES (Continued)
|
|||||
|
Construction & Engineering — 0.6%
|
|
|||
$500,000
|
Atkore, Inc. (a)
|
4.25%
|
06/01/31
|
$441,385
|
|
8,615,000
|
Pike Corp. (a)
|
5.50%
|
09/01/28
|
8,232,968
|
|
|
|
8,674,353
|
|||
|
Construction Materials — 0.3%
|
|
|||
176,000
|
GYP Holdings III Corp. (a)
|
4.63%
|
05/01/29
|
163,218
|
|
3,623,000
|
Summit Materials LLC / Summit Materials Finance Corp. (a)
|
5.25%
|
01/15/29
|
3,512,861
|
|
340,000
|
Summit Materials LLC / Summit Materials Finance Corp. (a)
|
7.25%
|
01/15/31
|
353,555
|
|
|
|
4,029,634
|
|||
|
Consumer Finance — 0.2%
|
|
|||
3,000,000
|
FirstCash, Inc. (a)
|
4.63%
|
09/01/28
|
2,806,790
|
|
|
Data Processing & Outsourced Services — 0.0%
|
|
|||
500,000
|
Block, Inc.
|
2.75%
|
06/01/26
|
468,436
|
|
250,000
|
Block, Inc.
|
3.50%
|
06/01/31
|
215,666
|
|
|
|
684,102
|
|||
|
Diversified Banks — 1.3%
|
|
|||
4,000,000
|
Bank of America Corp.
|
6.11%
|
01/29/37
|
4,322,081
|
|
1,000,000
|
Bank of America Corp. (d)
|
4.24%
|
04/24/38
|
912,556
|
|
3,000,000
|
Bank of America Corp.
|
5.88%
|
02/07/42
|
3,286,631
|
|
500,000
|
Bank of America Corp. (d)
|
4.08%
|
03/20/51
|
417,791
|
|
2,000,000
|
JPMorgan Chase & Co. (d)
|
5.72%
|
09/14/33
|
2,062,091
|
|
4,000,000
|
JPMorgan Chase & Co.
|
6.40%
|
05/15/38
|
4,596,632
|
|
1,000,000
|
JPMorgan Chase & Co.
|
5.60%
|
07/15/41
|
1,062,566
|
|
1,000,000
|
JPMorgan Chase & Co.
|
5.40%
|
01/06/42
|
1,038,926
|
|
1,000,000
|
JPMorgan Chase & Co.
|
5.63%
|
08/16/43
|
1,050,039
|
|
500,000
|
Wells Fargo & Co. (d)
|
5.01%
|
04/04/51
|
477,988
|
|
250,000
|
Wells Fargo Bank N.A.
|
6.60%
|
01/15/38
|
279,766
|
|
|
|
19,507,067
|
|||
|
Diversified Support Services — 0.2%
|
|
|||
1,945,000
|
Ritchie Bros Holdings, Inc. (a)
|
6.75%
|
03/15/28
|
1,986,468
|
|
1,375,000
|
Ritchie Bros Holdings, Inc. (a)
|
7.75%
|
03/15/31
|
1,450,721
|
|
|
|
3,437,189
|
|||
|
Electric Utilities — 0.6%
|
|
|||
5,000,000
|
Vistra Operations Co. LLC (a)
|
5.63%
|
02/15/27
|
4,930,170
|
|
3,189,000
|
Vistra Operations Co. LLC (a)
|
5.00%
|
07/31/27
|
3,092,351
|
|
1,359,000
|
Vistra Operations Co. LLC (a)
|
7.75%
|
10/15/31
|
1,412,728
|
|
|
|
9,435,249
|
|||
|
Electrical Components & Equipment — 0.0%
|
|
|||
667,000
|
Sensata Technologies, Inc. (a)
|
3.75%
|
02/15/31
|
579,758
|
|
|
Environmental & Facilities Services — 0.5%
|
|
|||
7,429,000
|
Waste Pro USA, Inc. (a)
|
5.50%
|
02/15/26
|
7,203,901
|
|
|
Fertilizers & Agricultural Chemicals — 0.1%
|
|
|||
250,000
|
Scotts Miracle-Gro (The) Co.
|
4.50%
|
10/15/29
|
221,446
|
|
1,000,000
|
Scotts Miracle-Gro (The) Co.
|
4.00%
|
04/01/31
|
837,222
|
|
|
|
1,058,668
|
|||
|
Financial Exchanges & Data — 0.8%
|
|
|||
2,750,000
|
MSCI, Inc. (a)
|
4.00%
|
11/15/29
|
2,557,322
|
|
1,000,000
|
MSCI, Inc. (a)
|
3.88%
|
02/15/31
|
903,716
|
Principal
Value
|
Description
|
Stated
Coupon
|
Stated
Maturity
|
Value
|
|
CORPORATE BONDS AND NOTES (Continued)
|
|||||
|
Financial Exchanges & Data (Continued)
|
|
|||
$1,000,000
|
MSCI, Inc. (a)
|
3.63%
|
11/01/31
|
$879,057
|
|
8,900,000
|
MSCI, Inc. (a)
|
3.25%
|
08/15/33
|
7,451,843
|
|
|
|
11,791,938
|
|||
|
Food Distributors — 0.1%
|
|
|||
1,397,000
|
US Foods, Inc. (a)
|
4.75%
|
02/15/29
|
1,326,539
|
|
|
Health Care Equipment — 0.0%
|
|
|||
300,000
|
Teleflex, Inc. (a)
|
4.25%
|
06/01/28
|
284,879
|
|
|
Health Care Facilities — 2.7%
|
|
|||
1,000,000
|
Acadia Healthcare Co., Inc. (a)
|
5.50%
|
07/01/28
|
978,477
|
|
1,290,000
|
Acadia Healthcare Co., Inc. (a)
|
5.00%
|
04/15/29
|
1,231,402
|
|
273,000
|
AHP Health Partners, Inc. (a)
|
5.75%
|
07/15/29
|
244,927
|
|
1,000,000
|
HCA, Inc.
|
5.13%
|
06/15/39
|
958,369
|
|
2,000,000
|
HCA, Inc.
|
5.50%
|
06/15/47
|
1,930,998
|
|
5,000,000
|
HCA, Inc.
|
5.25%
|
06/15/49
|
4,632,191
|
|
26,514,000
|
Select Medical Corp. (a) (c)
|
6.25%
|
08/15/26
|
26,528,925
|
|
3,197,000
|
Tenet Healthcare Corp.
|
6.13%
|
10/01/28
|
3,187,936
|
|
|
|
39,693,225
|
|||
|
Health Care Services — 1.7%
|
|
|||
5,000,000
|
Cigna Group (The)
|
6.13%
|
11/15/41
|
5,446,592
|
|
500,000
|
Cigna Group (The)
|
4.90%
|
12/15/48
|
466,028
|
|
4,464,000
|
DaVita, Inc. (a)
|
4.63%
|
06/01/30
|
3,953,111
|
|
908,000
|
DaVita, Inc. (a)
|
3.75%
|
02/15/31
|
749,339
|
|
16,028,000
|
Global Medical Response, Inc. (a)
|
6.50%
|
10/01/25
|
13,755,230
|
|
100,000
|
Service Corp. International
|
3.38%
|
08/15/30
|
87,276
|
|
|
|
24,457,576
|
|||
|
Health Care Supplies — 1.6%
|
|
|||
200,000
|
180 Medical, Inc. (a)
|
3.88%
|
10/15/29
|
178,945
|
|
13,953,000
|
Medline Borrower, L.P. (a) (c)
|
3.88%
|
04/01/29
|
12,645,304
|
|
10,908,000
|
Medline Borrower, L.P. (a)
|
5.25%
|
10/01/29
|
10,180,427
|
|
|
|
23,004,676
|
|||
|
Health Care Technology — 3.5%
|
|
|||
15,722,000
|
AthenaHealth Group, Inc. (a)
|
6.50%
|
02/15/30
|
14,060,469
|
|
6,535,000
|
HealthEquity, Inc. (a)
|
4.50%
|
10/01/29
|
6,109,570
|
|
31,085,000
|
Verscend Escrow Corp. (a) (c)
|
9.75%
|
08/15/26
|
31,232,654
|
|
|
|
51,402,693
|
|||
|
Hotels, Resorts & Cruise Lines — 0.0%
|
|
|||
711,000
|
Wyndham Hotels & Resorts, Inc. (a)
|
4.38%
|
08/15/28
|
664,393
|
|
|
Household Products — 0.2%
|
|
|||
2,154,000
|
Energizer Holdings, Inc. (a)
|
6.50%
|
12/31/27
|
2,146,407
|
|
1,350,000
|
Energizer Holdings, Inc. (a)
|
4.38%
|
03/31/29
|
1,223,107
|
|
|
|
3,369,514
|
|||
|
Human Resource & Employment Services — 0.0%
|
|
|||
686,000
|
TriNet Group, Inc. (a)
|
7.13%
|
08/15/31
|
701,015
|
|
|
Independent Power Producers & Energy Traders — 0.6%
|
|
|||
9,570,000
|
Calpine Corp. (a)
|
5.13%
|
03/15/28
|
9,140,509
|
Principal
Value
|
Description
|
Stated
Coupon
|
Stated
Maturity
|
Value
|
|
CORPORATE BONDS AND NOTES (Continued)
|
|||||
|
Industrial Machinery & Supplies & Components — 0.7%
|
|
|||
$4,338,000
|
Emerald Debt Merger Sub LLC (a)
|
6.63%
|
12/15/30
|
$4,387,106
|
|
5,573,000
|
Gates Global LLC / Gates Corp. (a)
|
6.25%
|
01/15/26
|
5,578,963
|
|
|
|
9,966,069
|
|||
|
Insurance Brokers — 12.8%
|
|
|||
38,556,000
|
Alliant Holdings Intermediate LLC / Alliant Holdings Co-
Issuer (a) (c)
|
6.75%
|
10/15/27
|
37,674,610
|
|
17,412,000
|
Alliant Holdings Intermediate LLC / Alliant Holdings Co-
Issuer (a) (c)
|
6.75%
|
04/15/28
|
17,586,573
|
|
1,790,000
|
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer (a)
|
5.88%
|
11/01/29
|
1,696,777
|
|
17,006,000
|
AmWINS Group, Inc. (a) (c)
|
4.88%
|
06/30/29
|
15,887,729
|
|
2,000,000
|
Arthur J Gallagher & Co.
|
5.50%
|
03/02/33
|
2,033,268
|
|
7,000,000
|
Arthur J Gallagher & Co.
|
5.75%
|
03/02/53
|
7,155,082
|
|
25,001,000
|
AssuredPartners, Inc. (a)
|
7.00%
|
08/15/25
|
25,006,710
|
|
36,774,000
|
AssuredPartners, Inc. (a) (c)
|
5.63%
|
01/15/29
|
34,761,226
|
|
8,120,000
|
BroadStreet Partners, Inc. (a)
|
5.88%
|
04/15/29
|
7,706,699
|
|
1,325,000
|
Brown & Brown, Inc.
|
2.38%
|
03/15/31
|
1,099,689
|
|
3,761,000
|
GTCR AP Finance, Inc. (a)
|
8.00%
|
05/15/27
|
3,771,339
|
|
8,230,000
|
HUB International Ltd. (a)
|
5.63%
|
12/01/29
|
7,773,479
|
|
1,950,000
|
HUB International Ltd. (a)
|
7.25%
|
06/15/30
|
2,007,334
|
|
9,750,000
|
HUB International Ltd. (a)
|
7.38%
|
01/31/32
|
9,991,028
|
|
2,200,000
|
NFP Corp. (a)
|
6.88%
|
08/15/28
|
2,214,168
|
|
9,355,000
|
Ryan Specialty LLC (a)
|
4.38%
|
02/01/30
|
8,679,545
|
|
2,000,000
|
USI, Inc. (a)
|
7.50%
|
01/15/32
|
2,030,000
|
|
|
|
187,075,256
|
|||
|
Integrated Telecommunication Services — 1.4%
|
|
|||
500,000
|
Ciena Corp. (a)
|
4.00%
|
01/31/30
|
461,088
|
|
3,559,000
|
Zayo Group Holdings, Inc. (a)
|
4.00%
|
03/01/27
|
2,710,419
|
|
25,891,000
|
Zayo Group Holdings, Inc. (a)
|
6.13%
|
03/01/28
|
17,261,400
|
|
|
|
20,432,907
|
|||
|
Interactive Media & Services — 1.4%
|
|
|||
20,909,000
|
Cars.com, Inc. (a) (c)
|
6.38%
|
11/01/28
|
20,429,766
|
|
|
Internet Services & Infrastructure — 1.2%
|
|
|||
5,500,000
|
Go Daddy Operating Co. LLC / GD Finance Co., Inc. (a)
|
5.25%
|
12/01/27
|
5,404,465
|
|
13,728,000
|
Go Daddy Operating Co. LLC / GD Finance Co., Inc. (a)
|
3.50%
|
03/01/29
|
12,440,724
|
|
|
|
17,845,189
|
|||
|
Investment Banking & Brokerage — 0.7%
|
|
|||
6,000,000
|
Goldman Sachs Group, (The), Inc.
|
6.75%
|
10/01/37
|
6,677,261
|
|
1,500,000
|
Goldman Sachs Group, (The), Inc.
|
6.25%
|
02/01/41
|
1,671,830
|
|
1,455,000
|
LPL Holdings, Inc. (a)
|
4.63%
|
11/15/27
|
1,402,082
|
|
250,000
|
Morgan Stanley
|
6.38%
|
07/24/42
|
286,493
|
|
250,000
|
Morgan Stanley (d)
|
5.60%
|
03/24/51
|
268,653
|
|
|
|
10,306,319
|
|||
|
IT Consulting & Other Services — 0.1%
|
|
|||
1,387,000
|
Central Parent, Inc. / CDK Global, Inc. (a)
|
7.25%
|
06/15/29
|
1,414,433
|
|
250,000
|
Gartner, Inc. (a)
|
4.50%
|
07/01/28
|
238,787
|
|
250,000
|
Gartner, Inc. (a)
|
3.75%
|
10/01/30
|
223,882
|
|
|
|
1,877,102
|
Principal
Value
|
Description
|
Stated
Coupon
|
Stated
Maturity
|
Value
|
|
CORPORATE BONDS AND NOTES (Continued)
|
|||||
|
Leisure Facilities — 0.1%
|
|
|||
$250,000
|
Cedar Fair, L.P.
|
5.25%
|
07/15/29
|
$239,182
|
|
850,000
|
Cedar Fair, L.P. / Canada’s Wonderland Co. / Magnum
Management Corp. / Millennium Op
|
5.38%
|
04/15/27
|
842,200
|
|
717,000
|
SeaWorld Parks & Entertainment, Inc. (a)
|
5.25%
|
08/15/29
|
668,373
|
|
|
|
1,749,755
|
|||
|
Leisure Products — 0.2%
|
|
|||
2,947,000
|
Acushnet Co. (a)
|
7.38%
|
10/15/28
|
3,067,680
|
|
|
Managed Health Care — 1.4%
|
|
|||
5,269,000
|
Centene Corp.
|
4.25%
|
12/15/27
|
5,069,151
|
|
3,032,000
|
Molina Healthcare, Inc. (a)
|
4.38%
|
06/15/28
|
2,844,904
|
|
100,000
|
Molina Healthcare, Inc. (a)
|
3.88%
|
11/15/30
|
87,740
|
|
6,523,000
|
MPH Acquisition Holdings LLC (a)
|
5.50%
|
09/01/28
|
5,797,349
|
|
1,995,000
|
MPH Acquisition Holdings LLC (a)
|
5.75%
|
11/01/28
|
1,589,187
|
|
1,000,000
|
UnitedHealth Group, Inc.
|
6.50%
|
06/15/37
|
1,157,637
|
|
1,000,000
|
UnitedHealth Group, Inc.
|
6.63%
|
11/15/37
|
1,173,484
|
|
2,000,000
|
UnitedHealth Group, Inc.
|
6.88%
|
02/15/38
|
2,399,465
|
|
1,000,000
|
UnitedHealth Group, Inc.
|
5.70%
|
10/15/40
|
1,077,635
|
|
|
|
21,196,552
|
|||
|
Metal & Glass Containers — 2.4%
|
|
|||
697,000
|
Ball Corp.
|
6.88%
|
03/15/28
|
720,373
|
|
10,648,000
|
Ball Corp.
|
2.88%
|
08/15/30
|
9,086,605
|
|
1,000,000
|
Ball Corp.
|
3.13%
|
09/15/31
|
847,800
|
|
3,864,000
|
Berry Global, Inc. (a)
|
4.50%
|
02/15/26
|
3,757,517
|
|
981,000
|
Berry Global, Inc. (a)
|
5.63%
|
07/15/27
|
973,522
|
|
786,000
|
Berry Global, Inc. (a)
|
5.65%
|
01/15/34
|
795,213
|
|
175,000
|
Crown Americas LLC
|
5.25%
|
04/01/30
|
169,271
|
|
6,050,000
|
Owens-Brockway Glass Container, Inc. (a)
|
6.38%
|
08/15/25
|
6,055,028
|
|
10,984,000
|
Owens-Brockway Glass Container, Inc. (a)
|
7.25%
|
05/15/31
|
11,053,419
|
|
2,200,000
|
Silgan Holdings, Inc.
|
4.13%
|
02/01/28
|
2,062,126
|
|
|
|
35,520,874
|
|||
|
Movies & Entertainment — 0.6%
|
|
|||
5,494,000
|
Live Nation Entertainment, Inc. (a)
|
5.63%
|
03/15/26
|
5,438,875
|
|
523,000
|
Live Nation Entertainment, Inc. (a)
|
6.50%
|
05/15/27
|
528,797
|
|
2,606,000
|
WMG Acquisition Corp. (a)
|
3.00%
|
02/15/31
|
2,210,318
|
|
|
|
8,177,990
|
|||
|
Other Diversified Financial Services — 0.1%
|
|
|||
1,362,000
|
GTCR W-2 Merger Sub LLC (a)
|
7.50%
|
01/15/31
|
1,415,853
|
|
|
Packaged Foods & Meats — 0.9%
|
|
|||
648,000
|
Fiesta Purchaser, Inc. (a) (b)
|
7.88%
|
03/01/31
|
648,000
|
|
2,000,000
|
Kraft Heinz Foods Co.
|
6.88%
|
01/26/39
|
2,326,345
|
|
2,000,000
|
Kraft Heinz Foods Co. (a)
|
7.13%
|
08/01/39
|
2,364,333
|
|
500,000
|
Kraft Heinz Foods Co.
|
5.20%
|
07/15/45
|
485,139
|
|
500,000
|
Kraft Heinz Foods Co.
|
4.38%
|
06/01/46
|
432,997
|
|
2,116,000
|
Post Holdings, Inc. (a)
|
5.75%
|
03/01/27
|
2,107,939
|
|
4,434,000
|
Post Holdings, Inc. (a)
|
5.63%
|
01/15/28
|
4,367,168
|
|
|
|
12,731,921
|
|||
|
Paper Packaging — 3.4%
|
|
|||
32,166,000
|
Graham Packaging Co., Inc. (a) (c)
|
7.13%
|
08/15/28
|
28,740,643
|
Principal
Value
|
Description
|
Stated
Coupon
|
Stated
Maturity
|
Value
|
|
CORPORATE BONDS AND NOTES (Continued)
|
|||||
|
Paper Packaging (Continued)
|
|
|||
$2,000,000
|
Graphic Packaging International LLC (a)
|
3.50%
|
03/15/28
|
$1,848,367
|
|
1,000,000
|
Graphic Packaging International LLC (a)
|
3.50%
|
03/01/29
|
901,176
|
|
14,255,000
|
Pactiv Evergreen Group Issuer, Inc. / Pactiv Evergreen Group
Issuer LLC (a) (c)
|
4.00%
|
10/15/27
|
13,304,405
|
|
420,000
|
Pactiv LLC
|
7.95%
|
12/15/25
|
428,478
|
|
376,000
|
Sealed Air Corp. (a)
|
5.50%
|
09/15/25
|
376,850
|
|
1,434,000
|
Sealed Air Corp. (a)
|
5.00%
|
04/15/29
|
1,376,756
|
|
2,351,000
|
Sealed Air Corp. / Sealed Air Corp. U.S. (a)
|
6.13%
|
02/01/28
|
2,361,449
|
|
338,000
|
Sealed Air Corp. / Sealed Air Corp. U.S. (a)
|
7.25%
|
02/15/31
|
353,781
|
|
|
|
49,691,905
|
|||
|
Personal Products — 0.1%
|
|
|||
250,000
|
Prestige Brands, Inc. (a)
|
5.13%
|
01/15/28
|
244,931
|
|
750,000
|
Prestige Brands, Inc. (a)
|
3.75%
|
04/01/31
|
651,050
|
|
|
|
895,981
|
|||
|
Pharmaceuticals — 0.5%
|
|
|||
950,000
|
Charles River Laboratories International, Inc. (a)
|
4.25%
|
05/01/28
|
898,320
|
|
1,000,000
|
Charles River Laboratories International, Inc. (a)
|
3.75%
|
03/15/29
|
910,346
|
|
1,000,000
|
Charles River Laboratories International, Inc. (a)
|
4.00%
|
03/15/31
|
889,365
|
|
800,000
|
IQVIA, Inc. (a)
|
5.00%
|
10/15/26
|
783,156
|
|
1,278,000
|
IQVIA, Inc. (a)
|
5.00%
|
05/15/27
|
1,250,184
|
|
2,670,000
|
IQVIA, Inc. (a)
|
6.50%
|
05/15/30
|
2,726,924
|
|
|
|
7,458,295
|
|||
|
Real Estate Services — 0.1%
|
|
|||
1,000,000
|
PulteGroup, Inc.
|
6.38%
|
05/15/33
|
1,082,169
|
|
290,000
|
Tri Pointe Homes, Inc.
|
5.25%
|
06/01/27
|
285,447
|
|
500,000
|
Tri Pointe Homes, Inc.
|
5.70%
|
06/15/28
|
492,285
|
|
|
|
1,859,901
|
|||
|
Research & Consulting Services — 0.7%
|
|
|||
2,027,000
|
Clarivate Science Holdings Corp. (a)
|
3.88%
|
07/01/28
|
1,869,748
|
|
6,770,000
|
Clarivate Science Holdings Corp. (a)
|
4.88%
|
07/01/29
|
6,325,828
|
|
696,000
|
CoreLogic, Inc. (a)
|
4.50%
|
05/01/28
|
617,561
|
|
1,097,000
|
Dun & Bradstreet (The) Corp. (a)
|
5.00%
|
12/15/29
|
1,020,686
|
|
|
|
9,833,823
|
|||
|
Restaurants — 1.3%
|
|
|||
661,000
|
Brinker International, Inc. (a)
|
5.00%
|
10/01/24
|
656,224
|
|
9,310,000
|
IRB Holding Corp. (a)
|
7.00%
|
06/15/25
|
9,261,542
|
|
3,000,000
|
McDonald’s Corp.
|
6.30%
|
10/15/37
|
3,380,493
|
|
2,000,000
|
McDonald’s Corp.
|
6.30%
|
03/01/38
|
2,262,087
|
|
1,000,000
|
McDonald’s Corp.
|
5.70%
|
02/01/39
|
1,072,878
|
|
1,688,000
|
Raising Cane’s Restaurants LLC (a)
|
9.38%
|
05/01/29
|
1,810,815
|
|
|
|
18,444,039
|
|||
|
Security & Alarm Services — 0.2%
|
|
|||
1,200,000
|
Brink’s (The) Co. (a)
|
5.50%
|
07/15/25
|
1,194,472
|
|
2,061,000
|
Brink’s (The) Co. (a)
|
4.63%
|
10/15/27
|
1,959,038
|
|
|
|
3,153,510
|
Principal
Value
|
Description
|
Stated
Coupon
|
Stated
Maturity
|
Value
|
|
CORPORATE BONDS AND NOTES (Continued)
|
|||||
|
Semiconductors — 0.0%
|
|
|||
$250,000
|
Broadcom, Inc. (a)
|
3.14%
|
11/15/35
|
$205,613
|
|
250,000
|
Broadcom, Inc. (a)
|
4.93%
|
05/15/37
|
241,288
|
|
|
|
446,901
|
|||
|
Specialized Consumer Services — 0.1%
|
|
|||
1,055,000
|
Aramark Services, Inc. (a)
|
5.00%
|
02/01/28
|
1,020,348
|
|
|
Specialized Finance — 0.2%
|
|
|||
2,851,000
|
Radiate Holdco LLC / Radiate Finance, Inc. (a)
|
4.50%
|
09/15/26
|
2,207,458
|
|
|
Specialty Chemicals — 0.5%
|
|
|||
6,815,000
|
Avantor Funding, Inc. (a)
|
4.63%
|
07/15/28
|
6,494,531
|
|
500,000
|
Axalta Coating Systems LLC (a)
|
3.38%
|
02/15/29
|
444,745
|
|
250,000
|
HB Fuller Co.
|
4.25%
|
10/15/28
|
232,405
|
|
|
|
7,171,681
|
|||
|
Systems Software — 5.4%
|
|
|||
8,407,000
|
Boxer Parent Co., Inc. (a)
|
9.13%
|
03/01/26
|
8,435,332
|
|
3,000,000
|
Crowdstrike Holdings, Inc.
|
3.00%
|
02/15/29
|
2,683,686
|
|
7,746,000
|
Gen Digital, Inc. (a)
|
7.13%
|
09/30/30
|
8,041,541
|
|
7,500,000
|
Oracle Corp.
|
6.25%
|
11/09/32
|
8,092,588
|
|
8,204,000
|
Oracle Corp.
|
6.50%
|
04/15/38
|
9,065,314
|
|
2,000,000
|
Oracle Corp.
|
6.13%
|
07/08/39
|
2,144,892
|
|
1,000,000
|
Oracle Corp.
|
3.60%
|
04/01/50
|
736,527
|
|
1,500,000
|
Oracle Corp.
|
6.90%
|
11/09/52
|
1,763,074
|
|
39,012,000
|
SS&C Technologies, Inc. (a) (c)
|
5.50%
|
09/30/27
|
38,333,121
|
|
|
|
79,296,075
|
|||
|
Technology Distributors — 0.0%
|
|
|||
750,000
|
CDW LLC / CDW Finance Corp.
|
3.25%
|
02/15/29
|
678,677
|
|
|
Trading Companies & Distributors — 2.7%
|
|
|||
3,906,000
|
Herc Holdings, Inc. (a)
|
5.50%
|
07/15/27
|
3,838,640
|
|
2,715,000
|
SRS Distribution, Inc. (a)
|
6.13%
|
07/01/29
|
2,571,784
|
|
1,112,000
|
SRS Distribution, Inc. (a)
|
6.00%
|
12/01/29
|
1,040,737
|
|
127,000
|
United Rentals North America, Inc.
|
5.50%
|
05/15/27
|
126,789
|
|
31,195,000
|
United Rentals North America, Inc. (a) (c)
|
6.00%
|
12/15/29
|
31,655,142
|
|
|
|
39,233,092
|
|||
|
Wireless Telecommunication Services — 0.9%
|
|
|||
500,000
|
SBA Communications Corp.
|
3.88%
|
02/15/27
|
477,490
|
|
1,000,000
|
T-Mobile USA, Inc.
|
2.70%
|
03/15/32
|
850,254
|
|
3,000,000
|
T-Mobile USA, Inc.
|
5.20%
|
01/15/33
|
3,058,799
|
|
5,000,000
|
T-Mobile USA, Inc.
|
5.05%
|
07/15/33
|
5,007,643
|
|
2,000,000
|
T-Mobile USA, Inc.
|
4.38%
|
04/15/40
|
1,806,112
|
|
1,000,000
|
T-Mobile USA, Inc.
|
3.40%
|
10/15/52
|
718,974
|
|
1,000,000
|
T-Mobile USA, Inc.
|
5.65%
|
01/15/53
|
1,033,029
|
|
|
|
12,952,301
|
|||
|
Total Corporate Bonds and Notes
|
1,160,495,098
|
|||
|
(Cost $1,213,726,519)
|
|
|||
FOREIGN CORPORATE BONDS AND NOTES — 11.7%
|
|||||
|
Application Software — 3.3%
|
|
|||
4,318,000
|
ION Trading Technologies S.A.R.L. (a)
|
5.75%
|
05/15/28
|
3,960,124
|
|
22,558,000
|
Open Text Corp. (a) (c)
|
6.90%
|
12/01/27
|
23,418,811
|
Principal
Value
|
Description
|
Stated
Coupon
|
Stated
Maturity
|
Value
|
|
FOREIGN CORPORATE BONDS AND NOTES (Continued)
|
|||||
|
Application Software (Continued)
|
|
|||
$11,860,000
|
Open Text Corp. (a)
|
3.88%
|
02/15/28
|
$11,026,239
|
|
10,577,000
|
Open Text Corp. (a)
|
3.88%
|
12/01/29
|
9,548,572
|
|
|
|
47,953,746
|
|||
|
Auto Parts & Equipment — 1.3%
|
|
|||
19,208,000
|
Clarios Global, L.P. / Clarios US Finance Co. (a) (c)
|
8.50%
|
05/15/27
|
19,191,367
|
|
|
Building Products — 0.3%
|
|
|||
1,304,000
|
Cemex SAB de C.V. (a)
|
5.45%
|
11/19/29
|
1,296,141
|
|
2,000,000
|
Cemex SAB de C.V. (a)
|
5.20%
|
09/17/30
|
1,949,922
|
|
1,000,000
|
Masonite International Corp. (a)
|
5.38%
|
02/01/28
|
976,105
|
|
|
|
4,222,168
|
|||
|
Cable & Satellite — 0.0%
|
|
|||
250,000
|
Virgin Media Finance PLC (a)
|
5.00%
|
07/15/30
|
223,445
|
|
|
Casinos & Gaming — 0.0%
|
|
|||
500,000
|
International Game Technology PLC (a)
|
5.25%
|
01/15/29
|
488,321
|
|
|
Data Processing & Outsourced Services — 0.9%
|
|
|||
14,357,000
|
Paysafe Finance PLC / Paysafe Holdings US Corp. (a) (c)
|
4.00%
|
06/15/29
|
12,819,761
|
|
|
Electrical Components & Equipment — 0.0%
|
|
|||
500,000
|
Sensata Technologies B.V. (a)
|
4.00%
|
04/15/29
|
458,214
|
|
|
Environmental & Facilities Services — 1.1%
|
|
|||
500,000
|
GFL Environmental, Inc. (a)
|
5.13%
|
12/15/26
|
488,648
|
|
9,173,000
|
GFL Environmental, Inc. (a)
|
4.00%
|
08/01/28
|
8,422,490
|
|
3,814,000
|
GFL Environmental, Inc. (a)
|
4.75%
|
06/15/29
|
3,584,367
|
|
1,000,000
|
GFL Environmental, Inc. (a)
|
4.38%
|
08/15/29
|
918,299
|
|
2,500,000
|
GFL Environmental, Inc. (a)
|
6.75%
|
01/15/31
|
2,560,071
|
|
|
|
15,973,875
|
|||
|
Integrated Telecommunication Services — 0.9%
|
|
|||
14,391,000
|
Altice France Holding S.A. (a)
|
10.50%
|
05/15/27
|
8,285,831
|
|
2,989,000
|
Altice France S.A. (a)
|
5.50%
|
01/15/28
|
2,336,060
|
|
500,000
|
Altice France S.A. (a)
|
5.13%
|
07/15/29
|
365,990
|
|
2,996,000
|
Altice France S.A. (a)
|
5.50%
|
10/15/29
|
2,211,060
|
|
|
|
13,198,941
|
|||
|
Metal & Glass Containers — 0.8%
|
|
|||
11,561,000
|
Trivium Packaging Finance B.V. (a)
|
5.50%
|
08/15/26
|
11,298,115
|
|
|
Research & Consulting Services — 0.0%
|
|
|||
774,000
|
Camelot Finance S.A. (a)
|
4.50%
|
11/01/26
|
746,955
|
|
|
Restaurants — 1.9%
|
|
|||
31,510,000
|
1011778 BC ULC / New Red Finance, Inc. (a) (c)
|
4.00%
|
10/15/30
|
28,189,466
|
|
|
Security & Alarm Services — 0.2%
|
|
|||
3,128,000
|
Garda World Security Corp. (a)
|
7.75%
|
02/15/28
|
3,185,674
|
|
|
Specialty Chemicals — 0.1%
|
|
|||
1,000,000
|
Axalta Coating Systems LLC / Axalta Coating Systems Dutch
Holding B B.V. (a)
|
4.75%
|
06/15/27
|
963,715
|
Principal
Value
|
Description
|
Stated
Coupon
|
Stated
Maturity
|
Value
|
|
FOREIGN CORPORATE BONDS AND NOTES (Continued)
|
|||||
|
Trading Companies & Distributors — 0.9%
|
|
|||
$6,779,000
|
VistaJet Malta Finance PLC / Vista Management Holding, Inc. (a)
|
7.88%
|
05/01/27
|
$5,668,532
|
|
9,742,000
|
VistaJet Malta Finance PLC / Vista Management Holding, Inc. (a)
|
6.38%
|
02/01/30
|
7,062,268
|
|
|
|
12,730,800
|
|||
|
Total Foreign Corporate Bonds and Notes
|
171,644,563
|
|||
|
(Cost $175,043,980)
|
|
Principal
Value
|
Description
|
Rate (e)
|
Stated
Maturity (f)
|
Value
|
|
SENIOR FLOATING-RATE LOAN INTERESTS — 8.4%
|
|||||
|
Application Software — 4.3%
|
|
|||
21,068,907
|
Gainwell Acquisition Corp. (fka Milano), Term Loan B, 3 Mo.
CME Term SOFR + CSA + 4.00%, 0.75% Floor
|
9.45%
|
10/01/27
|
20,531,650
|
|
9,928,141
|
Greeneden U.S. Holdings II LLC (Genesys Telecommunications
Laboratories, Inc.), Initial Dollar Term Loan, 1 Mo. CME Term
SOFR + CSA + 4.00%, 0.75% Floor
|
9.45%
|
12/01/27
|
9,949,884
|
|
17,762,992
|
Internet Brands, Inc. (WebMD/MH Sub I LLC), Term Loan
(Second Lien), 1 Mo. CME Term SOFR + 6.25%, 0.00% Floor
|
11.58%
|
02/23/29
|
17,093,150
|
|
14,757,367
|
LogMeIn, Inc. (GoTo Group, Inc.), Term Loan B, 1 Mo. CME
Term SOFR + CSA + 4.75%, 0.00% Floor
|
10.18%
|
08/31/27
|
6,739,173
|
|
8,944,728
|
RealPage, Inc., Term Loan (Second Lien), 1 Mo. CME Term SOFR
+ CSA + 6.50%, 0.75% Floor
|
11.95%
|
04/22/29
|
8,959,263
|
|
|
|
63,273,120
|
|||
|
Asset Management & Custody Banks — 0.5%
|
|
|||
7,000,000
|
Edelman Financial Engines Center LLC, Term Loan (Second Lien),
1 Mo. CME Term SOFR + CSA + 6.75%, 0.00% Floor
|
12.20%
|
07/20/26
|
7,022,750
|
|
|
Education Services — 0.0%
|
|
|||
357,709
|
Ascensus Holdings, Inc. (Mercury), Term Loan (Second Lien), 3
Mo. CME Term SOFR + CSA + 6.50%, 0.50% Floor
|
12.09%
|
08/02/29
|
347,201
|
|
|
Electronic Equipment & Instruments — 0.5%
|
|
|||
6,910,649
|
Verifone Systems, Inc., Term Loan B, 3 Mo. CME Term SOFR +
4.00%, 0.00% Floor
|
9.64%
|
08/20/25
|
6,641,168
|
|
|
Health Care Facilities — 0.1%
|
|
|||
955,055
|
Gentiva Health Services, Inc. (Kindred at Home/Charlotte Buyer),
Initial Term B Loan, 1 Mo. CME Term SOFR + 5.25%, 0.50%
Floor
|
10.59%
|
02/11/28
|
957,605
|
|
|
Health Care Technology — 2.6%
|
|
|||
4,841,632
|
Ciox Health (Healthport/CT Technologies Intermediate Holdings,
Inc.), New Term Loan B, 1 Mo. CME Term SOFR + 4.25%,
0.75% Floor
|
9.70%
|
12/16/25
|
4,764,238
|
|
4,841,059
|
Navicure, Inc. (Waystar Technologies, Inc.), Term Loan B, 1 Mo.
CME Term SOFR + CSA + 4.00%, 0.00% Floor
|
9.45%
|
10/23/26
|
4,850,161
|
|
27,682,542
|
Verscend Technologies, Inc. (Cotiviti), New Term Loan B-1, 1 Mo.
CME Term SOFR + CSA + 4.00%, 0.00% Floor
|
9.45%
|
08/27/25
|
27,746,765
|
|
|
|
37,361,164
|
|||
|
Integrated Telecommunication Services — 0.2%
|
|
|||
3,217,332
|
Numericable (Altice France S.A. or SFR), Term Loan B-13, 3 Mo.
LIBOR + 4.00%, 0.00% Floor
|
9.64%
|
08/14/26
|
3,139,714
|
|
244,022
|
Zayo Group Holdings, Inc., Incremental Term Loan B-2, 1 Mo.
CME Term SOFR + 4.33%, 0.50% Floor
|
9.66%
|
03/09/27
|
207,774
|
|
|
|
3,347,488
|
Principal
Value
|
Description
|
Rate (e)
|
Stated
Maturity (f)
|
Value
|
|
SENIOR FLOATING-RATE LOAN INTERESTS (Continued)
|
|||||
|
Life Sciences Tools & Services — 0.2%
|
|
|||
$3,441,183
|
WCG Purchaser Corp. (WIRB-Copernicus Group), Term Loan B, 1
Mo. CME Term SOFR + CSA + 4.00%, 1.00% Floor
|
9.45%
|
01/08/27
|
$3,436,916
|
|
|
Metal & Glass Containers — 0.0%
|
|
|||
632,409
|
ProAmpac PG Borrower LLC, Term Loan (First Lien), 3 Mo. CME
Term SOFR + 4.50%, 0.75% Floor
|
9.80%-9.87%
|
09/15/28
|
634,584
|
|
|
Total Senior Floating-Rate Loan Interests
|
123,021,996
|
|||
|
(Cost $131,897,746)
|
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS — 0.0%
|
|||||
|
Pharmaceuticals — 0.0%
|
|
|||
259,956
|
Akorn, Inc. (g) (h)
|
14,298
|
|||
|
(Cost $2,979,179)
|
|
|||
MONEY MARKET FUNDS — 0.3%
|
|||||
3,779,719
|
Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 5.18% (i)
|
3,779,719
|
|||
|
(Cost $3,779,719)
|
|
|||
|
|||||
|
|||||
|
Total Investments — 99.6%
|
1,458,955,674
|
|||
|
(Cost $1,527,427,143)
|
|
|||
|
Borrowings — (1.7)%
|
(25,000,000
)
|
|||
|
Net Other Assets and Liabilities — 2.1%
|
30,609,606
|
|||
|
Net Assets — 100.0%
|
$1,464,565,280
|
(a)
|
This security, sold within the terms of a private placement memorandum, is exempt from registration upon resale under
Rule 144A of the Securities Act of 1933, as amended (the “1933 Act”), and may be resold in transactions exempt from
registration, normally to qualified institutional buyers. Pursuant to procedures adopted by the Trust’s Board of Trustees, this
security has been determined to be liquid by First Trust Advisors L.P. (the “Advisor”). Although market instability can result in
periods of increased overall market illiquidity, liquidity for each security is determined based on security specific factors
and
assumptions, which require subjective judgment. At January 31, 2024, securities noted as such amounted to $1,150,782,268 or
78.6% of net assets.
|
(b)
|
When-issued security. The interest rate shown reflects the rate in effect at January 31, 2024. Interest will begin accruing
on the
security’s first settlement date.
|
(c)
|
This security or a portion of this security is segregated as collateral for borrowings. At January 31, 2024, the segregated
value of
these securities amounts to $309,122,340.
|
(d)
|
Fixed-to-floating or fixed-to-variable rate security. The interest rate shown reflects the fixed rate in effect at January
31, 2024. At
a predetermined date, the fixed rate will change to a floating rate or a variable rate.
|
(e)
|
Senior Floating-Rate Loan Interests (“Senior Loans”) in which the Fund invests generally pay interest at rates which are
periodically predetermined by reference to a base lending rate plus a premium. These base lending rates are generally (i)
the
lending rate offered by one or more major European banks, such as the LIBOR, (ii) the SOFR obtained from the U.S. Department
of the Treasury’s Office of Financial Research or another major financial institution, (iii) the prime rate offered by one or more
United States banks or (iv) the certificate of deposit rate. Certain Senior Loans are subject to a LIBOR or SOFR floor that
establishes a minimum LIBOR or SOFR rate. When a range of rates is disclosed, the Fund holds more than one contract within
the same tranche with identical LIBOR or SOFR period, spread and floor, but different LIBOR or SOFR reset dates.
|
(f)
|
Senior Loans generally are subject to mandatory and/or optional prepayment. As a result, the actual remaining maturity of
Senior
Loans may be substantially less than the stated maturities shown.
|
(g)
|
Non-income producing security.
|
(h)
|
Security received in a transaction exempt from registration under the 1933 Act. The security may be resold pursuant to an
exemption from registration under the 1933 Act, typically to qualified institutional buyers (see Restricted Securities table).
|
(i)
|
Rate shown reflects yield as of January 31, 2024.
|
Abbreviations throughout the Portfolio of Investments:
|
|
CME
|
– Chicago Mercantile Exchange
|
CSA
|
– Credit Spread Adjustment
|
LIBOR
|
– London Interbank Offered Rate
|
SOFR
|
– Secured Overnight Financing Rate
|
|
Total
Value at
1/31/2024
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
Corporate Bonds and Notes*
|
$1,160,495,098
|
$—
|
$1,160,495,098
|
$—
|
Foreign Corporate Bonds and Notes*
|
171,644,563
|
—
|
171,644,563
|
—
|
Senior Floating-Rate Loan Interests*
|
123,021,996
|
—
|
123,021,996
|
—
|
Common Stocks*
|
14,298
|
—
|
14,298
|
—
|
Money Market Funds
|
3,779,719
|
3,779,719
|
—
|
—
|
Total Investments
|
$1,458,955,674
|
$3,779,719
|
$1,455,175,955
|
$—
|
*
|
See Portfolio of Investments for industry breakout.
|
Security
|
Acquisition
Date
|
Shares
|
Current
Price
|
Carrying
Cost
|
Value
|
% of
Net Assets
|
Akorn, Inc.
|
10/15/20
|
259,956
|
$0.06
|
$2,979,179
|
$14,298
|
0.00
%*
|
*
|
Amount is less than 0.01%.
|