|
2025 Quarterly Report
(Unaudited)
|
|
BlackRock Core Bond Trust (BHK)
|
|
Not FDIC Insured • May Lose Value • No Bank Guarantee
|
|
Security
|
|
Par
(000)
|
Value
|
|
Asset-Backed Securities
|
|||
|
522 Funding CLO Ltd., Series 2017-1A, Class CR, (3-
mo. CME Term SOFR + 2.41%), 6.74%,
10/20/34(a)(b)
|
USD
|
500
|
$ 500,742
|
|
AIMCO CLO Ltd., Series 2018-BA, Class CRR, (3-mo.
CME Term SOFR + 2.40%), 6.72%, 04/16/37(a)(b)
|
|
650
|
654,707
|
|
Apidos CLO XVIII-R(a)(b)
|
|
|
|
|
Series 2018-18A, Class A1R2, (3-mo. CME Term
SOFR + 1.33%), 5.66%, 01/22/38
|
|
1,295
|
1,300,351
|
|
Series 2018-18A, Class BR2, (3-mo. CME Term
SOFR + 1.70%), 6.03%, 01/22/38
|
|
777
|
780,908
|
|
Apidos CLO XXIV, Series 2016-24A, Class A1AL, (3-mo.
CME Term SOFR + 1.21%), 5.54%, 10/20/30(a)(b)
|
|
218
|
217,959
|
|
Bain Capital Credit CLO Ltd., Series 2021-3A, Class D,
(3-mo. CME Term SOFR + 3.36%), 7.68%,
07/24/34(a)(b)
|
|
250
|
249,062
|
|
Ballyrock CLO Ltd., Series 2024-28A, Class A2, (3-mo.
CME Term SOFR + 1.70%), 6.03%, 01/20/38(a)(b)
|
|
500
|
501,750
|
|
Birch Grove CLO Ltd.(a)(b)
|
|
|
|
|
Series 2021-3A, Class D1R, (3-mo. CME Term SOFR
+ 2.85%), 7.18%, 01/19/38
|
|
250
|
252,755
|
|
Series 2023-6A, Class A1R, (3-mo. CME Term SOFR
+ 1.38%), 5.75%, 07/20/37
|
|
1,500
|
1,505,287
|
|
Bryant Park Funding Ltd., Series 2024-22A, Class C,
(3-mo. CME Term SOFR + 2.60%), 6.92%,
04/15/37(a)(b)
|
|
1,200
|
1,208,668
|
|
Buckhorn Park CLO Ltd., Series 2019-1A, Class ARR,
(3-mo. CME Term SOFR + 1.07%), 5.40%,
07/18/34(a)(b)
|
|
2,500
|
2,501,251
|
|
Canyon Capital CLO Ltd.(a)(b)
|
|
|
|
|
Series 2016-1A, Class CR, (3-mo. CME Term SOFR
+ 2.16%), 6.48%, 07/15/31
|
|
250
|
250,484
|
|
Series 2021-2A, Class D, (3-mo. CME Term SOFR +
3.61%), 7.93%, 04/15/34
|
|
500
|
501,437
|
|
CarVal CLO II Ltd., Series 2019-1A, Class AR2, (3-mo.
CME Term SOFR + 1.02%), 5.35%, 04/20/32(a)(b)
|
|
384
|
384,577
|
|
CarVal CLO VC Ltd., Series 2021-2A, Class D, (3-mo.
CME Term SOFR + 3.51%), 7.83%, 10/15/34(a)(b)
|
|
250
|
250,765
|
|
Cedar Funding XIV CLO Ltd., Series 2021-14A,
Class B1R, (3-mo. CME Term SOFR + 1.70%),
6.02%, 10/15/37(a)(b)
|
|
500
|
501,405
|
|
Cedar Funding XV CLO Ltd., Series 2022-15A, Class B,
(3-mo. CME Term SOFR + 1.80%), 6.13%,
04/20/35(a)(b)
|
|
400
|
401,088
|
|
CIFC Funding Ltd.(a)(b)
|
|
|
|
|
Series 2017-1A, Class CRR, (3-mo. CME Term
SOFR + 2.45%), 6.78%, 04/21/37
|
|
1,000
|
1,007,068
|
|
Series 2018-1A, Class A1R, (3-mo. CME Term SOFR
+ 1.32%), 5.59%, 01/18/38
|
|
1,036
|
1,039,108
|
|
Series 2018-1A, Class BR, (3-mo. CME Term SOFR
+ 1.70%), 5.97%, 01/18/38
|
|
1,295
|
1,300,361
|
|
Series 2019-1A, Class D1R2, (3-mo. CME Term
SOFR + 3.05%), 7.38%, 10/20/37
|
|
500
|
504,234
|
|
Series 2020-1A, Class DR, (3-mo. CME Term SOFR
+ 3.36%), 7.68%, 07/15/36
|
|
500
|
501,390
|
|
Compass Datacenters Issuer III LLC, Series 2025-3A,
Class A2, 5.29%, 07/25/50(b)
|
|
520
|
525,823
|
|
Concord Music Royalties LLC, Series 2024-1A, Class A,
5.64%, 10/20/74(b)
|
|
164
|
165,235
|
|
CWHEQ Revolving Home Equity Loan Trust,
Series 2006-I, Class 1A, (1-mo. Term SOFR +
0.25%), 4.40%, 01/15/37(a)
|
|
680
|
654,622
|
|
Security
|
|
Par
(000)
|
Value
|
|
Asset-Backed Securities (continued)
|
|||
|
Dewolf Park CLO Ltd., Series 2017-1A, Class DR, (3-
mo. CME Term SOFR + 3.11%), 7.43%,
10/15/30(a)(b)
|
USD
|
280
|
$ 279,779
|
|
Dryden CLO Ltd., Series 2018-64A, Class D, (3-mo.
CME Term SOFR + 2.91%), 7.24%, 04/18/31(a)(b)
|
|
1,250
|
1,259,288
|
|
Dryden Senior Loan Fund, Series 2015-37A, Class AR,
(3-mo. CME Term SOFR + 1.36%), 5.68%,
01/15/31(a)(b)
|
|
77
|
77,621
|
|
Eaton Vance CLO Ltd., Series 2015-1A, Class A2R,
(3-mo. CME Term SOFR + 1.51%), 5.84%,
01/20/30(a)(b)
|
|
1,000
|
1,000,402
|
|
EDvestinU Private Education Loan Issue No. 3 LLC,
Series 2021-A, Class B, 3.50%, 11/25/50(b)
|
|
110
|
93,546
|
|
Elmwood CLO 21 Ltd., Series 2022-8A, Class CR, (3-
mo. CME Term SOFR + 2.70%), 7.03%,
10/20/36(a)(b)
|
|
500
|
501,139
|
|
Elmwood CLO 26 Ltd., Series 2026-1A, Class C, (3-mo.
CME Term SOFR + 2.40%), 6.67%, 04/18/37(a)(b)
|
|
1,300
|
1,309,490
|
|
Elmwood CLO VI Ltd., Series 2020-3A, Class BRR,
(3-mo. CME Term SOFR + 1.70%), 6.03%,
07/18/37(a)(b)
|
|
250
|
250,833
|
|
GoldenTree Loan Management U.S. CLO Ltd.,
Series 2021-11A, Class AR, (3-mo. CME Term SOFR
+ 1.08%), 5.41%, 10/20/34(a)(b)
|
|
470
|
470,377
|
|
GreenSky Home Improvement Issuer Trust(b)
|
|
|
|
|
Series 2024-2, Class C, 5.55%, 10/27/59
|
|
100
|
101,008
|
|
Series 2025-2A, Class A4, 4.89%, 06/25/60
|
|
252
|
253,236
|
|
Huntington Bank Auto Credit-Linked Notes,
Series 2024-2, Class B1, 5.44%, 10/20/32(b)
|
|
548
|
553,818
|
|
Lendmark Funding Trust, Series 2025-2A, Class C,
5.28%, 10/20/34(b)
|
|
1,000
|
1,009,253
|
|
Long Beach Mortgage Loan Trust, Series 2006-8,
Class 2A4, (1-mo. Term SOFR + 0.59%), 4.75%,
09/25/36(a)
|
|
5,746
|
1,469,313
|
|
Lyra Music Assets Delaware LP, Series 2025-1A,
Class A2, 5.60%, 09/20/65(b)
|
|
221
|
223,490
|
|
Madison Park Funding LIX Ltd., Series 2021-59A,
Class A1R, (3-mo. CME Term SOFR + 1.50%),
5.83%, 04/18/37(a)(b)
|
|
1,300
|
1,306,901
|
|
Madison Park Funding XLVIII Ltd., Series 2021-48A,
Class E, (3-mo. CME Term SOFR + 6.51%), 10.84%,
04/19/33(a)(b)
|
|
500
|
500,857
|
|
Madison Park Funding XXIII Ltd.(a)(b)
|
|
|
|
|
Series 2017-23A, Class AR, (3-mo. CME Term SOFR
+ 1.23%), 5.55%, 07/27/31
|
|
542
|
543,669
|
|
Series 2017-23A, Class CR, (3-mo. CME Term SOFR
+ 2.26%), 6.58%, 07/27/31
|
|
600
|
601,139
|
|
Madison Park Funding XXXVII Ltd., Series 2019-37A,
Class BR2, (3-mo. CME Term SOFR + 1.95%),
6.27%, 04/15/37(a)(b)
|
|
1,000
|
1,004,660
|
|
Madison Park Funding XXXVIII Ltd., Series 2021-38A,
Class C, (3-mo. CME Term SOFR + 2.16%), 6.44%,
07/17/34(a)(b)
|
|
250
|
250,351
|
|
Marble Point CLO XXIII Ltd., Series 2021-4A, Class D1,
(3-mo. CME Term SOFR + 3.91%), 8.24%,
01/22/35(a)(b)
|
|
250
|
250,531
|
|
Navient Private Education Refi Loan Trust(b)
|
|
|
|
|
Series 2019-D, Class A2A, 3.01%, 12/15/59
|
|
332
|
323,395
|
|
Series 2019-GA, Class A, 2.40%, 10/15/68
|
|
102
|
98,863
|
|
Series 2021-CA, Class A, 1.06%, 10/15/69
|
|
559
|
509,687
|
|
Series 2021-DA, Class C, 3.48%, 04/15/60
|
|
392
|
367,050
|
|
Security
|
|
Par
(000)
|
Value
|
|
Asset-Backed Securities (continued)
|
|||
|
Navient Private Education Refi Loan Trust(b) (continued)
|
|
|
|
|
Series 2021-EA, Class A, 0.97%, 12/16/69
|
USD
|
678
|
$ 611,376
|
|
Series 2023-A, Class A, 5.51%, 10/15/71
|
|
122
|
124,695
|
|
Nelnet Student Loan Trust(b)
|
|
|
|
|
Series 2021-A, Class D, 4.93%, 04/20/62
|
|
460
|
418,421
|
|
Series 2021-BA, Class B, 2.68%, 04/20/62
|
|
1,983
|
1,771,128
|
|
Series 2021-CA, Class AFL, (1-mo. Term SOFR +
0.85%), 4.99%, 04/20/62(a)
|
|
239
|
238,744
|
|
Series 2025-BA, Class D, 6.04%, 05/17/55
|
|
549
|
552,840
|
|
Neuberger Berman Loan Advisers CLO Ltd.(a)(b)
|
|
|
|
|
Series 2019-31A, Class AR2, (3-mo. CME Term
SOFR + 1.23%), 5.56%, 01/20/39
|
|
1,615
|
1,618,362
|
|
Series 2019-34A, Class BR2, (3-mo. CME Term
SOFR + 1.65%), 5.98%, 07/20/39
|
|
530
|
530,371
|
|
OCP CLO Ltd.(a)(b)
|
|
|
|
|
Series 2017-13A, Class AR2, (3-mo. CME Term
SOFR + 1.34%), 5.67%, 11/26/37
|
|
1,000
|
1,002,999
|
|
Series 2024-38A, Class A, (3-mo. CME Term SOFR +
1.33%), 5.66%, 01/21/38
|
|
1,000
|
1,003,018
|
|
Octagon 54 Ltd., Series 2021-1A, Class D, (3-mo. CME
Term SOFR + 3.31%), 7.63%, 07/15/34(a)(b)
|
|
250
|
249,983
|
|
Octagon Investment Partners XVII Ltd., Series 2013-1A,
Class BR2, (3-mo. CME Term SOFR + 1.66%),
5.98%, 01/25/31(a)(b)
|
|
500
|
500,900
|
|
Octagon Investment Partners XXII Ltd., Series 2014-1A,
Class DRR, (3-mo. CME Term SOFR + 3.01%),
7.34%, 01/22/30(a)(b)
|
|
500
|
500,887
|
|
OHA Credit Funding Ltd., Series 2022-12RA, Class C,
(3-mo. CME Term SOFR + 1.80%), 6.13%,
07/20/37(a)(b)
|
|
1,250
|
1,252,489
|
|
OneMain Direct Auto Receivables Trust, Series 2025-
1A, Class D, 6.10%, 07/14/37(b)
|
|
533
|
542,927
|
|
OZLM XXI Ltd., Series 2017-21A, Class C, (3-mo. CME
Term SOFR + 2.93%), 7.26%, 01/20/31(a)(b)
|
|
1,000
|
1,001,314
|
|
Palmer Square CLO Ltd.(a)(b)
|
|
|
|
|
Series 2020-3ARR, Class A1R2, (3-mo. CME Term
SOFR + 1.65%), 5.86%, 11/15/36
|
|
250
|
250,446
|
|
Series 2020-3ARR, Class A2R2, (3-mo. CME Term
SOFR + 2.30%), 6.51%, 11/15/36
|
|
250
|
251,118
|
|
Series 2024-4A, Class B, (3-mo. CME Term SOFR +
1.65%), 5.97%, 01/15/38
|
|
920
|
924,821
|
|
Point Broadband Funding LLC(b)
|
|
|
|
|
Series 2025-1A, Class A2, 5.34%, 07/20/55
|
|
1,000
|
1,009,017
|
|
Series 2025-1A, Class C, 8.16%, 07/20/55
|
|
750
|
766,781
|
|
Prodigy Finance DAC, Series 2021-1A, Class C, (1-mo.
Term SOFR + 3.86%), 8.02%, 07/25/51(a)(b)
|
|
43
|
43,561
|
|
Regatta 30 Funding Ltd., Series 2024-4A, Class B, (3-
mo. CME Term SOFR + 1.65%), 5.97%,
01/25/38(a)(b)
|
|
1,700
|
1,704,471
|
|
Regatta XVIII Funding Ltd., Series 2021-1A, Class BR,
(3-mo. CME Term SOFR + 1.55%), 5.87%,
04/15/38(a)(b)
|
|
850
|
851,828
|
|
Rockford Tower CLO Ltd., Series 2021-3A, Class A1R,
(3-mo. CME Term SOFR + 1.40%), 5.72%,
01/15/38(a)(b)
|
|
1,709
|
1,716,630
|
|
Romark CLO Ltd., Series 2017-1A, Class B, (3-mo.
CME Term SOFR + 2.41%), 6.73%, 10/23/30(a)(b)
|
|
500
|
501,078
|
|
Sandstone Peak II Ltd., Series 2023-1A, Class A1R,
(3-mo. CME Term SOFR + 1.41%), 5.74%,
07/20/38(a)(b)
|
|
1,000
|
1,004,501
|
|
Security
|
|
Par
(000)
|
Value
|
|
Asset-Backed Securities (continued)
|
|||
|
Sesac Finance LLC, Series 2025-1, Class A2, 5.50%,
07/25/55(b)
|
USD
|
345
|
$ 343,632
|
|
SMB Private Education Loan Trust(b)
|
|
|
|
|
Series 2019-A, Class A2A, 3.44%, 07/15/36
|
|
539
|
533,534
|
|
Series 2019-B, Class A2A, 2.84%, 06/15/37
|
|
126
|
123,221
|
|
Series 2021-A, Class A2B, 1.59%, 01/15/53
|
|
255
|
235,870
|
|
Series 2021-A, Class B, 2.31%, 01/15/53
|
|
131
|
128,321
|
|
Series 2021-C, Class C, 3.00%, 01/15/53
|
|
108
|
94,508
|
|
Series 2021-C, Class D, 3.93%, 01/15/53
|
|
53
|
47,838
|
|
Series 2021-D, Class A1A, 1.34%, 03/17/53
|
|
717
|
675,374
|
|
Series 2022-C, Class A1A, 4.48%, 05/16/50
|
|
245
|
243,964
|
|
Series 2023-B, Class A1B, (30-day Avg SOFR +
1.80%), 6.17%, 10/16/56(a)
|
|
163
|
166,187
|
|
Series 2023-C, Class A1A, 5.67%, 11/15/52
|
|
1,125
|
1,155,598
|
|
Sterling COOFS Trust(b)(c)
|
|
|
|
|
Series 2004-1, Class A, 2.36%, 04/15/29
|
|
700
|
—
|
|
Series 2004-2, Class Note, 2.08%, 03/30/30
|
|
264
|
—
|
|
Structured Asset Securities Corp. Pass-Through
Certificates, Series 2002-AL1, Class A2, 3.45%,
02/25/32
|
|
10
|
8,349
|
|
Subway Funding LLC, Series 2024-1A, Class A2I,
6.03%, 07/30/54(b)
|
|
293
|
296,830
|
|
TCI-Symphony CLO Ltd., Series 2017-1A, Class AR,
(3-mo. CME Term SOFR + 1.19%), 5.51%,
07/15/30(a)(b)
|
|
184
|
183,754
|
|
Trestles CLO Ltd.(a)(b)
|
|
|
|
|
Series 2017-1A, Class CRR, (3-mo. CME Term
SOFR + 2.10%), 6.42%, 07/25/37
|
|
1,750
|
1,758,687
|
|
Series 2017-1A, Class D1RR, (3-mo. CME Term
SOFR + 3.15%), 7.47%, 07/25/37
|
|
250
|
252,249
|
|
Trimaran CAVU Ltd.(a)(b)
|
|
|
|
|
Series 2021-2A, Class D1, (3-mo. CME Term SOFR +
3.51%), 7.83%, 10/25/34
|
|
500
|
502,302
|
|
Series 2023-1, Class E, (3-mo. CME Term SOFR +
8.94%), 13.27%, 07/20/36
|
|
500
|
501,626
|
|
Unique Pub Finance Co. PLC, Series 02, Class N,
6.46%, 03/30/32(d)
|
GBP
|
12
|
16,277
|
|
Upgrade Master Pass-Thru Trust, Series 2025-ST4,
Class A, 5.50%, 08/16/32(b)
|
USD
|
187
|
188,281
|
|
UPX HIL Issuer Trust, Series 2025-1, Class A, 5.16%,
01/25/47(b)
|
|
337
|
338,010
|
|
Voya CLO Ltd.(a)(b)
|
|
|
|
|
Series 2017-2A, Class A2AR, (3-mo. CME Term
SOFR + 1.91%), 6.23%, 06/07/30
|
|
250
|
250,367
|
|
Series 2018-2A, Class A2, (3-mo. CME Term SOFR +
1.51%), 5.83%, 07/15/31
|
|
1,000
|
1,000,475
|
|
Warwick Capital CLO Ltd., Series 2024-5A, Class A1,
(3-mo. CME Term SOFR + 1.36%), 5.69%,
01/20/38(a)(b)
|
|
750
|
752,566
|
|
Whetstone Park CLO Ltd., Series 2021-1A, Class B1,
(3-mo. CME Term SOFR + 1.86%), 6.19%,
01/20/35(a)(b)
|
|
725
|
725,812
|
|
Whitebox CLO I Ltd., Series 2019-1A, Class D1RR,
(3-mo. CME Term SOFR + 3.10%), 7.42%,
07/24/36(a)(b)
|
|
500
|
501,315
|
|
Whitebox CLO II Ltd., Series 2020-2A, Class D1R2,
(3-mo. CME Term SOFR + 2.90%), 7.22%,
10/24/37(a)(b)
|
|
500
|
504,080
|
|
Security
|
|
Par
(000)
|
Value
|
|
Asset-Backed Securities (continued)
|
|||
|
Whitebox CLO III Ltd.(a)(b)
|
|
|
|
|
Series 2021-3A, Class DR, (3-mo. CME Term SOFR
+ 2.85%), 7.17%, 10/15/35
|
USD
|
250
|
$ 252,004
|
|
Series 2021-3A, Class ER, (3-mo. CME Term SOFR
+ 5.65%), 9.97%, 10/15/35
|
|
250
|
249,886
|
|
Wireless PropCo Funding LLC, Series 2025-1A,
Class B, 4.30%, 06/25/55(b)
|
|
725
|
692,088
|
|
Total Asset-Backed Securities — 9.0%
(Cost: $66,934,611)
|
65,938,444
|
||
|
|
|
Shares
|
|
|
Common Stocks
|
|||
|
Capital Markets — 0.0%
|
|
||
|
Wom New Holdco(c)(e)
|
|
465
|
10,695
|
|
Total Common Stocks — 0.0%
(Cost: $13,485)
|
10,695
|
||
|
|
|
Par
(000)
|
|
|
Corporate Bonds
|
|||
|
Advertising Agencies — 0.5%
|
|||
|
Clear Channel Outdoor Holdings, Inc.(b)
|
|
|
|
|
7.75%, 04/15/28
|
USD
|
335
|
334,391
|
|
7.50%, 06/01/29(f)
|
|
604
|
586,613
|
|
7.88%, 04/01/30(f)
|
|
383
|
402,160
|
|
7.13%, 02/15/31
|
|
521
|
538,533
|
|
7.50%, 03/15/33
|
|
605
|
632,569
|
|
CMG Media Corp., 8.88%, 06/18/29(b)
|
|
127
|
116,639
|
|
Interpublic Group of Cos., Inc., 5.40%, 10/01/48(f)
|
|
500
|
466,510
|
|
Lamar Media Corp.
|
|
|
|
|
4.00%, 02/15/30
|
|
21
|
20,104
|
|
5.38%, 11/01/33(b)
|
|
126
|
125,073
|
|
Neptune Bidco U.S., Inc., 9.29%, 04/15/29(b)
|
|
255
|
250,331
|
|
Outfront Media Capital LLC/Outfront Media Capital
Corp.(b)
|
|
|
|
|
5.00%, 08/15/27
|
|
46
|
45,769
|
|
4.25%, 01/15/29
|
|
264
|
253,570
|
|
4.63%, 03/15/30(f)
|
|
66
|
63,432
|
|
7.38%, 02/15/31
|
|
72
|
75,956
|
|
Stagwell Global LLC, 5.63%, 08/15/29(b)
|
|
69
|
67,028
|
|
|
|
|
3,978,678
|
|
Aerospace & Defense — 2.6%
|
|||
|
AAR Escrow Issuer LLC, 6.75%, 03/15/29(b)
|
|
253
|
260,444
|
|
ATI, Inc.
|
|
|
|
|
5.88%, 12/01/27
|
|
97
|
97,185
|
|
7.25%, 08/15/30
|
|
255
|
267,670
|
|
5.13%, 10/01/31
|
|
110
|
108,254
|
|
Boeing Co.
|
|
|
|
|
3.20%, 03/01/29
|
|
1,840
|
1,775,449
|
|
2.95%, 02/01/30
|
|
800
|
753,192
|
|
6.53%, 05/01/34
|
|
550
|
608,006
|
|
Bombardier, Inc.(b)
|
|
|
|
|
6.00%, 02/15/28
|
|
161
|
161,407
|
|
8.75%, 11/15/30
|
|
355
|
382,829
|
|
7.25%, 07/01/31
|
|
37
|
39,221
|
|
Security
|
|
Par
(000)
|
Value
|
|
Aerospace & Defense (continued)
|
|||
|
Bombardier, Inc.(b) (continued)
|
|
|
|
|
7.00%, 06/01/32
|
USD
|
162
|
$ 169,320
|
|
6.75%, 06/15/33
|
|
187
|
195,145
|
|
Efesto Bidco SpA Efesto U.S. LLC, Series XR, 7.50%,
02/15/32(b)
|
|
701
|
713,338
|
|
General Electric Co., 6.15%, 08/07/37
|
|
2,150
|
2,371,704
|
|
Goat Holdco LLC, 6.75%, 02/01/32(b)
|
|
109
|
111,725
|
|
L3Harris Technologies, Inc.
|
|
|
|
|
2.90%, 12/15/29
|
|
1,200
|
1,138,213
|
|
1.80%, 01/15/31
|
|
300
|
264,098
|
|
Lockheed Martin Corp., 3.80%, 03/01/45
|
|
800
|
653,337
|
|
Northrop Grumman Corp.
|
|
|
|
|
4.70%, 03/15/33
|
|
400
|
402,789
|
|
4.75%, 06/01/43
|
|
850
|
786,818
|
|
RTX Corp.
|
|
|
|
|
2.38%, 03/15/32
|
|
1,000
|
883,541
|
|
5.15%, 02/27/33
|
|
900
|
932,169
|
|
4.50%, 06/01/42
|
|
300
|
271,287
|
|
Spirit AeroSystems, Inc.(b)
|
|
|
|
|
9.38%, 11/30/29
|
|
363
|
382,318
|
|
9.75%, 11/15/30
|
|
342
|
376,130
|
|
TransDigm, Inc.(b)
|
|
|
|
|
6.75%, 08/15/28
|
|
150
|
152,859
|
|
6.38%, 03/01/29
|
|
596
|
609,351
|
|
6.63%, 03/01/32
|
|
1,223
|
1,259,133
|
|
6.00%, 01/15/33
|
|
744
|
752,246
|
|
6.38%, 05/31/33
|
|
933
|
943,490
|
|
6.25%, 01/31/34
|
|
115
|
118,268
|
|
6.75%, 01/31/34
|
|
810
|
837,507
|
|
|
|
|
18,778,443
|
|
Air Freight & Logistics(b) — 0.0%
|
|||
|
Rand Parent LLC, 8.50%, 02/15/30
|
|
127
|
131,961
|
|
Stonepeak Nile Parent LLC, 7.25%, 03/15/32
|
|
60
|
63,182
|
|
|
|
|
195,143
|
|
Automobile Components — 0.4%
|
|||
|
American Axle & Manufacturing, Inc.(b)(g)
|
|
|
|
|
10/15/32
|
|
91
|
90,846
|
|
10/15/33
|
|
95
|
95,741
|
|
Aptiv Swiss Holdings Ltd., 5.40%, 03/15/49
|
|
465
|
425,191
|
|
Clarios Global LP/Clarios U.S. Finance Co.(b)
|
|
|
|
|
6.75%, 05/15/28
|
|
525
|
536,595
|
|
6.75%, 02/15/30
|
|
190
|
196,272
|
|
4.75%, 06/15/31
|
EUR
|
205
|
245,215
|
|
6.75%, 09/15/32
|
USD
|
409
|
418,063
|
|
Dana, Inc.
|
|
|
|
|
4.25%, 09/01/30
|
|
46
|
45,556
|
|
4.50%, 02/15/32
|
|
70
|
68,926
|
|
Goodyear Tire & Rubber Co.
|
|
|
|
|
6.63%, 07/15/30
|
|
88
|
89,290
|
|
5.25%, 04/30/31
|
|
6
|
5,670
|
|
5.63%, 04/30/33
|
|
81
|
75,364
|
|
IHO Verwaltungs GmbH, (7.00% PIK), 7.00%,
11/15/31(d)(h)
|
EUR
|
100
|
127,085
|
|
Qnity Electronics, Inc.(b)
|
|
|
|
|
5.75%, 08/15/32
|
USD
|
166
|
167,266
|
|
6.25%, 08/15/33
|
|
127
|
129,691
|
|
Schaeffler AG, 4.25%, 04/01/28(d)
|
EUR
|
100
|
119,329
|
|
Tenneco, Inc., 8.00%, 11/17/28(b)
|
USD
|
183
|
183,334
|
|
ZF Europe Finance BV, 7.00%, 06/12/30(d)
|
EUR
|
100
|
121,870
|
|
|
|
|
3,141,304
|
|
Security
|
|
Par
(000)
|
Value
|
|
Automobiles — 1.0%
|
|||
|
Asbury Automotive Group, Inc., 4.50%, 03/01/28
|
USD
|
10
|
$ 9,878
|
|
Carvana Co.(b)(h)
|
|
|
|
|
(9.00% PIK), 9.00%, 06/01/30
|
|
325
|
340,130
|
|
(9.00% PIK), 9.00%, 06/01/31
|
|
986
|
1,116,073
|
|
Cougar JV Subsidiary LLC, 8.00%, 05/15/32(b)
|
|
108
|
114,825
|
|
Ford Motor Co., 4.75%, 01/15/43
|
|
2,000
|
1,594,632
|
|
General Motors Co., 6.25%, 10/02/43
|
|
2,506
|
2,548,429
|
|
LCM Investments Holdings II LLC(b)
|
|
|
|
|
4.88%, 05/01/29
|
|
45
|
44,089
|
|
8.25%, 08/01/31
|
|
252
|
266,516
|
|
Lithia Motors, Inc., 5.50%, 10/01/30(b)
|
|
104
|
103,870
|
|
Nissan Motor Acceptance Co. LLC, 6.13%, 09/30/30(b)
|
|
268
|
268,091
|
|
Nissan Motor Co. Ltd.
|
|
|
|
|
5.25%, 07/17/29(d)
|
EUR
|
100
|
119,651
|
|
7.75%, 07/17/32(b)
|
USD
|
200
|
211,653
|
|
6.38%, 07/17/33(b)
|
EUR
|
100
|
120,875
|
|
8.13%, 07/17/35(b)
|
USD
|
362
|
388,605
|
|
RCI Banque SA, (5-year EURIBOR ICE Swap + 2.20%),
4.75%, 03/24/37(a)(d)
|
EUR
|
100
|
119,454
|
|
Renault SA, 3.88%, 09/30/30(d)
|
|
100
|
117,227
|
|
|
|
|
7,483,998
|
|
Banks — 1.0%
|
|||
|
Abanca Corp. Bancaria SA, (5-year EURIBOR ICE
Swap + 2.45%), 4.63%, 12/11/36(a)(d)
|
|
100
|
120,900
|
|
Al Rajhi Sukuk Ltd., (6 year USD CMT + 1.59%),
6.25%(a)(d)(i)
|
USD
|
200
|
201,664
|
|
Banco Mercantil del Norte SA, (5-year CMT + 4.07%),
8.38%(a)(b)(i)
|
|
200
|
210,900
|
|
Bangkok Bank PCL/Hong Kong, 5.30%, 09/21/28(b)
|
|
200
|
204,874
|
|
Standard Chartered PLC, (5-year USD ICE Swap +
1.97%), 4.87%, 03/15/33(a)(b)
|
|
500
|
500,885
|
|
Walker & Dunlop, Inc., 6.63%, 04/01/33(b)
|
|
76
|
77,721
|
|
Wells Fargo & Co.(a)
|
|
|
|
|
(1-day SOFR + 1.50%), 5.15%, 04/23/31
|
|
2,000
|
2,062,602
|
|
(1-day SOFR + 1.78%), 5.50%, 01/23/35
|
|
1,290
|
1,345,587
|
|
(1-day SOFR + 2.02%), 5.39%, 04/24/34
|
|
1,124
|
1,167,904
|
|
(1-day SOFR + 2.53%), 3.07%, 04/30/41(f)
|
|
2,250
|
1,746,647
|
|
|
|
|
7,639,684
|
|
Beverages — 0.6%
|
|||
|
Anheuser-Busch InBev Worldwide, Inc., 4.44%,
10/06/48
|
|
4,600
|
3,997,580
|
|
Keurig Dr. Pepper, Inc., Series 31, 2.25%, 03/15/31
|
|
400
|
352,707
|
|
|
|
|
4,350,287
|
|
Biotechnology — 0.5%
|
|||
|
Amgen, Inc.
|
|
|
|
|
5.25%, 03/02/30
|
|
800
|
829,294
|
|
4.20%, 03/01/33
|
|
1,000
|
972,509
|
|
5.25%, 03/02/33
|
|
600
|
621,505
|
|
5.60%, 03/02/43
|
|
650
|
658,614
|
|
Baxalta, Inc., 5.25%, 06/23/45
|
|
500
|
479,145
|
|
|
|
|
3,561,067
|
|
Building Materials — 0.6%
|
|||
|
AmeriTex HoldCo Intermediate LLC, 7.63%, 08/15/33(b)
|
|
133
|
138,425
|
|
Builders FirstSource, Inc.(b)
|
|
|
|
|
6.38%, 03/01/34
|
|
99
|
101,980
|
|
6.75%, 05/15/35
|
|
91
|
95,016
|
|
CP Atlas Buyer, Inc., 9.75%, 07/15/30(b)
|
|
41
|
42,939
|
|
EMRLD Borrower LP/Emerald Co-Issuer, Inc.
|
|
|
|
|
6.38%, 12/15/30(b)
|
EUR
|
110
|
134,923
|
|
6.38%, 12/15/30(d)
|
|
100
|
122,657
|
|
Security
|
|
Par
(000)
|
Value
|
|
Building Materials (continued)
|
|||
|
EMRLD Borrower LP/Emerald Co-Issuer,
Inc. (continued)
|
|
|
|
|
6.63%, 12/15/30(b)
|
USD
|
794
|
$ 816,191
|
|
6.75%, 07/15/31(b)
|
|
122
|
126,716
|
|
Jeld-Wen, Inc.(b)
|
|
|
|
|
4.88%, 12/15/27
|
|
121
|
118,079
|
|
7.00%, 09/01/32(f)
|
|
113
|
95,426
|
|
JH North America Holdings, Inc.(b)
|
|
|
|
|
5.88%, 01/31/31
|
|
127
|
128,945
|
|
6.13%, 07/31/32
|
|
113
|
115,743
|
|
New Enterprise Stone & Lime Co., Inc.(b)
|
|
|
|
|
5.25%, 07/15/28
|
|
55
|
54,492
|
|
9.75%, 07/15/28
|
|
89
|
89,197
|
|
Quikrete Holdings, Inc.(b)
|
|
|
|
|
6.38%, 03/01/32
|
|
803
|
831,783
|
|
6.75%, 03/01/33
|
|
167
|
173,629
|
|
Smyrna Ready Mix Concrete LLC(b)
|
|
|
|
|
6.00%, 11/01/28
|
|
34
|
34,011
|
|
8.88%, 11/15/31
|
|
126
|
133,049
|
|
Standard Building Solutions, Inc.(b)
|
|
|
|
|
6.50%, 08/15/32
|
|
264
|
270,870
|
|
6.25%, 08/01/33
|
|
374
|
379,006
|
|
Standard Industries, Inc.(b)
|
|
|
|
|
4.75%, 01/15/28
|
|
3
|
2,974
|
|
4.38%, 07/15/30
|
|
170
|
162,993
|
|
3.38%, 01/15/31
|
|
28
|
25,356
|
|
Wilsonart LLC, 11.00%, 08/15/32(b)
|
|
194
|
188,849
|
|
|
|
|
4,383,249
|
|
Building Products — 1.0%
|
|||
|
Foundation Building Materials, Inc., 6.00%, 03/01/29(b)
|
|
9
|
9,123
|
|
Home Depot, Inc., 5.88%, 12/16/36
|
|
1,660
|
1,807,675
|
|
Lowe’s Cos., Inc.
|
|
|
|
|
1.70%, 10/15/30
|
|
1,600
|
1,408,092
|
|
5.00%, 04/15/33(f)
|
|
1,000
|
1,023,215
|
|
3.70%, 04/15/46
|
|
1,000
|
768,279
|
|
Park River Holdings, Inc., 03/15/31(b)(g)
|
|
99
|
100,255
|
|
QXO Building Products, Inc., 6.75%, 04/30/32(b)(f)
|
|
593
|
613,990
|
|
White Cap Buyer LLC, 6.88%, 10/15/28(b)
|
|
1,194
|
1,190,453
|
|
|
|
|
6,921,082
|
|
Capital Markets — 0.8%
|
|||
|
Apollo Debt Solutions BDC
|
|
|
|
|
5.88%, 08/30/30(b)
|
|
96
|
97,685
|
|
6.70%, 07/29/31
|
|
105
|
111,280
|
|
6.55%, 03/15/32(b)
|
|
24
|
25,185
|
|
Bain Capital Specialty Finance, Inc., 5.95%, 03/15/30
|
|
40
|
40,205
|
|
Blackstone Private Credit Fund, 6.00%, 11/22/34
|
|
405
|
414,739
|
|
Blue Owl Capital Corp., 6.20%, 07/15/30
|
|
311
|
319,802
|
|
Blue Owl Capital Corp. II, 8.45%, 11/15/26
|
|
66
|
68,373
|
|
FMR LLC, 4.95%, 02/01/33(b)
|
|
2,300
|
2,320,353
|
|
Focus Financial Partners LLC, 6.75%, 09/15/31(b)
|
|
167
|
171,028
|
|
HA Sustainable Infrastructure Capital, Inc., 6.38%,
07/01/34
|
|
109
|
110,932
|
|
HAT Holdings I LLC/HAT Holdings II LLC, 8.00%,
06/15/27(b)
|
|
36
|
37,479
|
|
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
|
|
|
|
|
5.25%, 05/15/27
|
|
392
|
385,315
|
|
9.75%, 01/15/29
|
|
110
|
111,018
|
|
4.38%, 02/01/29
|
|
94
|
81,142
|
|
10.00%, 11/15/29(b)
|
|
149
|
149,658
|
|
Jane Street Group/JSG Finance, Inc.(b)
|
|
|
|
|
6.13%, 11/01/32
|
|
41
|
41,556
|
|
Security
|
|
Par
(000)
|
Value
|
|
Capital Markets (continued)
|
|||
|
Jane Street Group/JSG Finance, Inc.(b) (continued)
|
|
|
|
|
6.75%, 05/01/33
|
USD
|
70
|
$ 72,704
|
|
JPMorgan Chase Financial Co. LLC, 0.50%, 06/15/27(j)
|
|
191
|
221,178
|
|
MDGH GMTN RSC Ltd., 4.38%, 11/22/33(b)
|
|
200
|
197,500
|
|
Osaic Holdings, Inc.(b)
|
|
|
|
|
6.75%, 08/01/32
|
|
76
|
78,496
|
|
8.00%, 08/01/33
|
|
127
|
131,622
|
|
Raymond James Financial, Inc., 4.95%, 07/15/46
|
|
400
|
369,220
|
|
SURA Asset Management SA, 6.35%, 05/13/32(b)
|
|
200
|
213,500
|
|
WOM Chile Holdco SpA, (5.00% PIK), 5.00%,
04/01/32(b)(h)(j)
|
|
245
|
218,056
|
|
|
|
|
5,988,026
|
|
Chemicals — 1.0%
|
|||
|
Advancion Sciences, Inc., (9.25% Cash or 10.00% PIK),
9.25%, 11/01/26(b)(h)
|
|
214
|
189,327
|
|
Avient Corp., 6.25%, 11/01/31(b)
|
|
94
|
95,459
|
|
Axalta Coating Systems Dutch Holding B BV, 7.25%,
02/15/31(b)
|
|
173
|
180,996
|
|
Axalta Coating Systems LLC, 3.38%, 02/15/29(b)
|
|
198
|
187,586
|
|
Celanese U.S. Holdings LLC, 6.75%, 04/15/33(f)
|
|
95
|
94,599
|
|
Chemours Co.
|
|
|
|
|
5.38%, 05/15/27
|
|
159
|
158,869
|
|
5.75%, 11/15/28(b)
|
|
387
|
377,470
|
|
8.00%, 01/15/33(b)
|
|
94
|
93,498
|
|
Element Solutions, Inc., 3.88%, 09/01/28(b)
|
|
466
|
451,615
|
|
EQUATE Petrochemical Co. KSC, 4.25%, 11/03/26(d)
|
|
200
|
199,100
|
|
HB Fuller Co., 4.25%, 10/15/28
|
|
3
|
2,917
|
|
Herens Holdco SARL, 4.75%, 05/15/28(b)
|
|
200
|
175,218
|
|
Inversion Escrow Issuer LLC, 6.75%, 08/01/32(b)
|
|
352
|
346,760
|
|
Itelyum Regeneration SpA, 5.75%, 04/15/30(d)
|
EUR
|
100
|
119,447
|
|
Mativ Holdings, Inc., 8.00%, 10/01/29(b)
|
USD
|
80
|
79,205
|
|
Methanex U.S. Operations, Inc., 6.25%, 03/15/32(b)
|
|
117
|
119,044
|
|
OCP SA, 7.50%, 05/02/54(b)
|
|
200
|
221,938
|
|
Olympus Water U.S. Holding Corp.
|
|
|
|
|
9.63%, 11/15/28(d)
|
EUR
|
100
|
123,137
|
|
9.75%, 11/15/28(b)
|
USD
|
363
|
380,969
|
|
6.25%, 10/01/29(b)(f)
|
|
200
|
194,199
|
|
7.25%, 06/15/31(b)
|
|
320
|
324,408
|
|
02/15/33(b)(g)
|
|
543
|
543,566
|
|
Orbia Advance Corp. SAB de CV, 6.80%, 05/13/30(b)
|
|
200
|
207,951
|
|
Sasol Financing USA LLC, 6.50%, 09/27/28
|
|
200
|
199,062
|
|
Sherwin-Williams Co., 3.80%, 08/15/49
|
|
350
|
267,908
|
|
SK Invictus Intermediate II SARL, 5.00%, 10/30/29(b)
|
|
192
|
187,922
|
|
Solstice Advanced Materials, Inc., 5.63%, 09/30/33(b)
|
|
248
|
248,819
|
|
WR Grace Holdings LLC(b)
|
|
|
|
|
4.88%, 06/15/27
|
|
76
|
75,529
|
|
5.63%, 08/15/29(f)
|
|
945
|
878,375
|
|
7.38%, 03/01/31
|
|
122
|
124,417
|
|
6.63%, 08/15/32
|
|
277
|
273,892
|
|
|
|
|
7,123,202
|
|
Commercial Services & Supplies — 1.7%
|
|||
|
ADT Security Corp.(b)
|
|
|
|
|
4.88%, 07/15/32
|
|
25
|
24,211
|
|
10/15/33(g)
|
|
272
|
272,000
|
|
Albion Financing 1 SARL/Aggreko Holdings, Inc.
|
|
|
|
|
5.38%, 05/21/30(d)
|
EUR
|
100
|
121,792
|
|
7.00%, 05/21/30(b)
|
USD
|
452
|
467,504
|
|
Allied Universal Holdco LLC, 7.88%, 02/15/31(b)
|
|
1,793
|
1,879,953
|
|
Allied Universal Holdco LLC/Allied Universal Finance
Corp.(b)
|
|
|
|
|
6.00%, 06/01/29(f)
|
|
898
|
882,782
|
|
Security
|
|
Par
(000)
|
Value
|
|
Commercial Services & Supplies (continued)
|
|||
|
Allied Universal Holdco LLC/Allied Universal Finance
Corp.(b) (continued)
|
|
|
|
|
6.88%, 06/15/30
|
USD
|
571
|
$ 586,891
|
|
Allied Universal Holdco LLC/Allied Universal Finance
Corp./Atlas Luxco 4 SARL, 4.63%, 06/01/28(b)
|
|
329
|
322,475
|
|
BCP V Modular Services Finance II PLC, 4.75%,
11/30/28(d)
|
EUR
|
100
|
112,394
|
|
Belron U.K. Finance PLC, 5.75%, 10/15/29(b)
|
USD
|
218
|
220,841
|
|
Boels Topholding BV, 5.75%, 05/15/30(d)
|
EUR
|
100
|
121,765
|
|
Brink’s Co.(b)
|
|
|
|
|
6.50%, 06/15/29
|
USD
|
85
|
87,473
|
|
6.75%, 06/15/32
|
|
56
|
58,248
|
|
Deluxe Corp., 8.13%, 09/15/29(b)
|
|
70
|
73,095
|
|
EquipmentShare.com, Inc., 8.00%, 03/15/33(b)
|
|
73
|
78,018
|
|
FTAI Aviation Investors LLC(b)
|
|
|
|
|
5.50%, 05/01/28
|
|
9
|
9,001
|
|
7.88%, 12/01/30
|
|
686
|
728,976
|
|
7.00%, 05/01/31
|
|
185
|
193,521
|
|
7.00%, 06/15/32
|
|
337
|
352,678
|
|
5.88%, 04/15/33
|
|
154
|
154,966
|
|
Garda World Security Corp.(b)
|
|
|
|
|
4.63%, 02/15/27
|
|
106
|
105,196
|
|
7.75%, 02/15/28
|
|
108
|
110,711
|
|
6.00%, 06/01/29
|
|
34
|
33,708
|
|
8.25%, 08/01/32
|
|
268
|
277,807
|
|
8.38%, 11/15/32
|
|
695
|
721,429
|
|
Herc Holdings, Inc.(b)
|
|
|
|
|
7.00%, 06/15/30
|
|
257
|
266,953
|
|
7.25%, 06/15/33
|
|
104
|
108,566
|
|
Hertz Corp., 12.63%, 07/15/29(b)
|
|
81
|
85,872
|
|
ION Platform Finance SARL, 09/30/30(d)(g)
|
EUR
|
100
|
117,405
|
|
Prime Security Services Borrower LLC/Prime Finance,
Inc., 6.25%, 01/15/28(b)(f)
|
USD
|
145
|
144,873
|
|
RR Donnelley & Sons Co., 9.50%, 08/01/29(b)
|
|
370
|
379,200
|
|
Service Corp. International
|
|
|
|
|
3.38%, 08/15/30
|
|
5
|
4,633
|
|
4.00%, 05/15/31
|
|
20
|
18,857
|
|
5.75%, 10/15/32
|
|
428
|
433,597
|
|
Sotheby’s, 7.38%, 10/15/27(b)
|
|
665
|
663,126
|
|
Transurban Finance Co. Pty. Ltd., 4.13%, 02/02/26(b)
|
|
580
|
579,373
|
|
Trustees of Columbia University in the City of New York,
Series 2024, 4.36%, 10/01/35
|
|
1,000
|
979,108
|
|
Verisure Holding AB, 9.25%, 10/15/27(d)
|
EUR
|
80
|
96,338
|
|
Veritiv Operating Co., 10.50%, 11/30/30(b)
|
USD
|
91
|
97,664
|
|
Wand NewCo 3, Inc., 7.63%, 01/30/32(b)
|
|
333
|
350,856
|
|
|
|
|
12,323,856
|
|
Communications Equipment(b) — 0.1%
|
|||
|
CommScope LLC, 4.75%, 09/01/29(f)
|
|
510
|
506,726
|
|
Viavi Solutions, Inc., 3.75%, 10/01/29
|
|
26
|
24,513
|
|
|
|
|
531,239
|
|
Construction & Engineering(b) — 0.2%
|
|||
|
AECOM, 6.00%, 08/01/33
|
|
417
|
426,337
|
|
Arcosa, Inc.
|
|
|
|
|
4.38%, 04/15/29
|
|
117
|
113,769
|
|
6.88%, 08/15/32
|
|
15
|
15,667
|
|
Brand Industrial Services, Inc., 10.38%, 08/01/30
|
|
675
|
672,849
|
|
IHS Holding Ltd., 6.25%, 11/29/28
|
|
200
|
200,375
|
|
|
|
|
1,428,997
|
|
Consumer Discretionary — 0.2%
|
|||
|
Arena Luxembourg Finance SARL, (3-mo. EURIBOR +
2.50%), 4.52%, 05/01/30(a)(d)
|
EUR
|
100
|
118,133
|
|
Security
|
|
Par
(000)
|
Value
|
|
Consumer Discretionary (continued)
|
|||
|
Clarivate Science Holdings Corp.(b)
|
|
|
|
|
3.88%, 07/01/28
|
USD
|
585
|
$ 562,976
|
|
4.88%, 07/01/29(f)
|
|
230
|
217,357
|
|
Raven Acquisition Holdings LLC, 6.88%, 11/15/31(b)
|
|
56
|
57,550
|
|
Williams Scotsman, Inc.(b)
|
|
|
|
|
6.63%, 06/15/29
|
|
19
|
19,434
|
|
6.63%, 04/15/30
|
|
163
|
167,770
|
|
7.38%, 10/01/31
|
|
235
|
245,420
|
|
|
|
|
1,388,640
|
|
Consumer Finance — 0.7%
|
|||
|
Block, Inc.
|
|
|
|
|
2.75%, 06/01/26
|
|
248
|
244,742
|
|
5.63%, 08/15/30(b)
|
|
204
|
206,688
|
|
6.50%, 05/15/32
|
|
386
|
399,512
|
|
6.00%, 08/15/33(b)
|
|
313
|
320,525
|
|
Boost Newco Borrower LLC, 7.50%, 01/15/31(b)
|
|
200
|
212,179
|
|
Bread Financial Holdings, Inc., (5-year CMT + 4.30%),
8.38%, 06/15/35(a)(b)
|
|
22
|
22,590
|
|
Capital One Financial Corp., (1-day SOFR + 2.60%),
5.82%, 02/01/34(a)
|
|
440
|
461,431
|
|
ION Platform Finance U.S., Inc., 09/30/32(b)(g)
|
|
558
|
554,334
|
|
Moody’s Corp., 2.75%, 08/19/41
|
|
350
|
252,829
|
|
Navient Corp.
|
|
|
|
|
9.38%, 07/25/30
|
|
100
|
110,527
|
|
7.88%, 06/15/32
|
|
189
|
198,877
|
|
OneMain Finance Corp.
|
|
|
|
|
6.63%, 05/15/29
|
|
85
|
87,369
|
|
5.38%, 11/15/29
|
|
133
|
131,492
|
|
7.88%, 03/15/30
|
|
188
|
198,933
|
|
6.13%, 05/15/30
|
|
196
|
198,486
|
|
4.00%, 09/15/30
|
|
71
|
65,999
|
|
7.50%, 05/15/31
|
|
65
|
67,949
|
|
7.13%, 11/15/31
|
|
56
|
58,071
|
|
6.75%, 03/15/32
|
|
170
|
173,149
|
|
7.13%, 09/15/32
|
|
181
|
186,980
|
|
6.50%, 03/15/33
|
|
257
|
257,406
|
|
Shift4 Payments LLC/Shift4 Payments Finance Sub,
Inc.(b)
|
|
|
|
|
6.75%, 08/15/32
|
|
467
|
482,827
|
|
5.50%, 05/15/33
|
EUR
|
145
|
177,260
|
|
Shift4 Payments, Inc., 0.00%, 12/15/25(j)(k)
|
USD
|
112
|
114,912
|
|
WEX, Inc., 6.50%, 03/15/33(b)
|
|
263
|
268,597
|
|
|
|
|
5,453,664
|
|
Consumer Staples Distribution & Retail — 0.2%
|
|||
|
Albertsons Cos., Inc./Safeway, Inc./New Albertsons
LP/Albertsons LLC, 6.25%, 03/15/33(b)
|
|
118
|
120,679
|
|
B&M European Value Retail SA, 6.50%, 11/27/31(d)
|
GBP
|
100
|
136,252
|
|
Bellis Acquisition Co. PLC, 8.00%, 07/01/31(d)
|
EUR
|
100
|
119,151
|
|
Boots Group Finco LP(b)
|
|
|
|
|
5.38%, 08/31/32
|
|
215
|
259,679
|
|
7.38%, 08/31/32
|
GBP
|
100
|
137,008
|
|
KeHE Distributors LLC/KeHE Finance Corp./NextWave
Distribution, Inc., 9.00%, 02/15/29(b)
|
USD
|
86
|
90,485
|
|
Lion/Polaris Lux 4 SA, (3-mo. EURIBOR + 3.63%),
5.64%, 07/01/29(a)(d)
|
EUR
|
100
|
118,712
|
|
Market Bidco Finco PLC, 6.75%, 01/31/31(d)
|
|
100
|
115,935
|
|
Ocado Group PLC, 11.00%, 06/15/30(d)
|
GBP
|
100
|
135,122
|
|
Performance Food Group, Inc.(b)
|
|
|
|
|
4.25%, 08/01/29
|
USD
|
19
|
18,456
|
|
Security
|
|
Par
(000)
|
Value
|
|
Consumer Staples Distribution & Retail (continued)
|
|||
|
Performance Food Group, Inc.(b) (continued)
|
|
|
|
|
6.13%, 09/15/32
|
USD
|
223
|
$ 228,421
|
|
U.S. Foods, Inc., 7.25%, 01/15/32(b)
|
|
164
|
171,699
|
|
United Natural Foods, Inc., 6.75%, 10/15/28(b)
|
|
135
|
134,989
|
|
|
|
|
1,786,588
|
|
Containers & Packaging — 1.0%
|
|||
|
Ardagh Metal Packaging Finance USA LLC/Ardagh
Metal Packaging Finance PLC, 4.00%, 09/01/29(b)(f)
|
|
1,066
|
986,601
|
|
Ardagh Packaging Finance PLC/Ardagh Holdings USA,
Inc.
|
|
|
|
|
2.13%, 08/15/26(d)
|
EUR
|
200
|
228,337
|
|
4.13%, 08/15/26(b)(c)
|
USD
|
402
|
385,920
|
|
Ball Corp.
|
|
|
|
|
4.25%, 07/01/32
|
EUR
|
100
|
120,084
|
|
5.50%, 09/15/33
|
USD
|
117
|
118,258
|
|
Clydesdale Acquisition Holdings, Inc.(b)
|
|
|
|
|
6.63%, 04/15/29
|
|
219
|
221,495
|
|
6.88%, 01/15/30
|
|
157
|
161,052
|
|
8.75%, 04/15/30
|
|
312
|
320,500
|
|
6.75%, 04/15/32
|
|
560
|
574,481
|
|
Crown Americas LLC, 5.88%, 06/01/33(b)
|
|
288
|
290,912
|
|
Fedrigoni SpA, 6.13%, 06/15/31(d)
|
EUR
|
100
|
116,702
|
|
International Paper Co., 6.00%, 11/15/41
|
USD
|
870
|
906,102
|
|
LABL, Inc.(b)
|
|
|
|
|
5.88%, 11/01/28
|
|
32
|
24,794
|
|
9.50%, 11/01/28
|
|
417
|
354,257
|
|
8.63%, 10/01/31
|
|
132
|
96,972
|
|
Magnera Corp., 7.25%, 11/15/31(b)
|
|
75
|
70,573
|
|
Mauser Packaging Solutions Holding Co.(b)
|
|
|
|
|
7.88%, 04/15/27(f)
|
|
1,850
|
1,868,135
|
|
9.25%, 04/15/27
|
|
148
|
148,339
|
|
OI European Group BV, 6.25%, 05/15/28(b)
|
EUR
|
100
|
121,172
|
|
Owens-Brockway Glass Container, Inc., 6.63%,
05/13/27(b)
|
USD
|
27
|
26,950
|
|
Sealed Air Corp.(b)
|
|
|
|
|
4.00%, 12/01/27
|
|
38
|
37,293
|
|
5.00%, 04/15/29
|
|
38
|
37,788
|
|
Sealed Air Corp./Sealed Air Corp. U.S., 7.25%,
02/15/31(b)
|
|
11
|
11,542
|
|
Silgan Holdings, Inc., 02/15/31(b)(g)
|
EUR
|
180
|
212,182
|
|
Trivium Packaging Finance BV, 6.63%, 07/15/30(d)
|
|
100
|
123,418
|
|
|
|
|
7,563,859
|
|
Distributors(b) — 0.0%
|
|||
|
Gates Corp./DE, 6.88%, 07/01/29
|
USD
|
90
|
93,388
|
|
Resideo Funding, Inc.
|
|
|
|
|
4.00%, 09/01/29
|
|
42
|
40,119
|
|
6.50%, 07/15/32(f)
|
|
105
|
107,615
|
|
|
|
|
241,122
|
|
Diversified REITs — 1.3%
|
|||
|
American Tower Corp., 2.90%, 01/15/30(f)
|
|
2,500
|
2,356,352
|
|
Crown Castle, Inc.
|
|
|
|
|
4.90%, 09/01/29
|
|
750
|
760,774
|
|
2.10%, 04/01/31
|
|
1,000
|
875,518
|
|
2.90%, 04/01/41
|
|
350
|
256,097
|
|
Digital Realty Trust LP, 1.88%, 11/15/29(b)(j)
|
|
45
|
47,250
|
|
Equinix, Inc., 2.50%, 05/15/31
|
|
500
|
450,655
|
|
ERP Operating LP, 4.50%, 07/01/44(f)
|
|
1,155
|
1,025,479
|
|
Iron Mountain Information Management Services, Inc.,
5.00%, 07/15/32(b)
|
|
54
|
52,031
|
|
Security
|
|
Par
(000)
|
Value
|
|
Diversified REITs (continued)
|
|||
|
Iron Mountain, Inc.
|
|
|
|
|
5.25%, 07/15/30(b)
|
USD
|
13
|
$ 12,856
|
|
5.63%, 07/15/32(b)
|
|
62
|
61,669
|
|
6.25%, 01/15/33(b)
|
|
16
|
16,320
|
|
4.75%, 01/15/34(b)
|
EUR
|
120
|
141,197
|
|
4.75%, 01/15/34(d)
|
|
100
|
117,664
|
|
Millrose Properties, Inc.(b)
|
|
|
|
|
6.38%, 08/01/30
|
USD
|
324
|
329,505
|
|
6.25%, 09/15/32
|
|
166
|
166,434
|
|
Prologis LP, 4.63%, 01/15/33(f)
|
|
1,000
|
1,006,461
|
|
SBA Communications Corp., 3.13%, 02/01/29(f)
|
|
198
|
185,192
|
|
Trust Fibra Uno, 7.70%, 01/23/32(d)
|
|
200
|
216,800
|
|
Uniti Group LP/Uniti Group Finance 2019, Inc./CSL
Capital LLC, 10.50%, 02/15/28(b)
|
|
1,146
|
1,206,967
|
|
|
|
|
9,285,221
|
|
Diversified Telecommunication Services — 2.9%
|
|||
|
Altice Financing SA, 5.75%, 08/15/29(b)
|
|
200
|
150,500
|
|
AT&T, Inc.
|
|
|
|
|
5.40%, 02/15/34
|
|
560
|
582,033
|
|
6.00%, 08/15/40
|
|
520
|
545,748
|
|
6.38%, 03/01/41
|
|
1,200
|
1,295,165
|
|
5.45%, 03/01/47
|
|
1,500
|
1,450,273
|
|
3.50%, 09/15/53
|
|
500
|
345,851
|
|
Connect Finco SARL/Connect U.S. Finco LLC, 9.00%,
09/15/29(b)
|
|
220
|
231,309
|
|
Corning, Inc., 4.38%, 11/15/57
|
|
2,000
|
1,656,704
|
|
EchoStar Corp.
|
|
|
|
|
(6.75% PIK), 6.75%, 11/30/30(h)
|
|
1,279
|
1,318,416
|
|
10.75%, 11/30/29
|
|
704
|
773,973
|
|
eircom Finance DAC, 5.00%, 04/30/31(d)
|
EUR
|
100
|
120,255
|
|
Eutelsat SA, 9.75%, 04/13/29(d)
|
|
100
|
126,753
|
|
Fibercop SpA
|
|
|
|
|
4.75%, 06/30/30(d)
|
|
100
|
119,253
|
|
5.13%, 06/30/32(d)
|
|
100
|
119,332
|
|
6.00%, 09/30/34(b)
|
USD
|
200
|
190,632
|
|
Frontier Communications Holdings LLC
|
|
|
|
|
5.00%, 05/01/28(b)
|
|
293
|
292,341
|
|
6.75%, 05/01/29(b)
|
|
59
|
59,589
|
|
5.88%, 11/01/29
|
|
94
|
94,995
|
|
6.00%, 01/15/30(b)
|
|
130
|
131,529
|
|
8.75%, 05/15/30(b)
|
|
981
|
1,024,797
|
|
8.63%, 03/15/31(b)
|
|
198
|
208,744
|
|
Kaixo Bondco Telecom SA, 5.13%, 09/30/29(d)
|
EUR
|
100
|
118,836
|
|
Level 3 Financing, Inc.(b)
|
|
|
|
|
3.63%, 01/15/29
|
USD
|
33
|
28,560
|
|
4.88%, 06/15/29
|
|
650
|
611,535
|
|
4.50%, 04/01/30
|
|
281
|
256,782
|
|
3.88%, 10/15/30
|
|
60
|
52,386
|
|
4.00%, 04/15/31
|
|
31
|
26,591
|
|
6.88%, 06/30/33
|
|
1,028
|
1,047,547
|
|
7.00%, 03/31/34
|
|
1,107
|
1,126,161
|
|
Lorca Telecom Bondco SA, 5.75%, 04/30/29(d)
|
EUR
|
100
|
122,185
|
|
Lumen Technologies, Inc.(b)
|
|
|
|
|
4.13%, 04/15/30
|
USD
|
139
|
136,457
|
|
10.00%, 10/15/32
|
|
116
|
117,168
|
|
Maya SAS/Paris France
|
|
|
|
|
5.38%, 04/15/30(d)
|
EUR
|
100
|
119,913
|
|
8.50%, 04/15/31(b)
|
USD
|
200
|
214,499
|
|
7.00%, 04/15/32(b)
|
|
322
|
328,377
|
|
Sable International Finance Ltd., 7.13%, 10/15/32(b)
|
|
260
|
263,387
|
|
Security
|
|
Par
(000)
|
Value
|
|
Diversified Telecommunication Services (continued)
|
|||
|
SoftBank Group Corp.(d)
|
|
|
|
|
2.88%, 01/06/27
|
EUR
|
100
|
$ 116,876
|
|
3.88%, 07/06/32
|
|
100
|
111,751
|
|
Telecom Italia Capital SA, 7.72%, 06/04/38
|
USD
|
201
|
222,666
|
|
Verizon Communications, Inc., 3.85%, 11/01/42(f)
|
|
5,000
|
4,056,830
|
|
Windstream Services LLC, 10/15/33(b)(g)
|
|
211
|
210,943
|
|
Windstream Services LLC/Windstream Escrow Finance
Corp., 8.25%, 10/01/31(b)
|
|
699
|
724,078
|
|
Zayo Group Holdings, Inc.(b)(g)
|
|
|
|
|
03/09/30
|
|
385
|
368,431
|
|
09/09/30
|
|
215
|
203,779
|
|
|
|
|
21,423,930
|
|
Electric Utilities — 3.8%
|
|||
|
AES Andes SA, (5-year CMT + 3.84%), 8.15%,
06/10/55(a)(b)
|
|
200
|
211,522
|
|
Alpha Generation LLC, 6.75%, 10/15/32(b)
|
|
181
|
186,845
|
|
American Electric Power Co., Inc., 5.63%, 03/01/33(f)
|
|
3,000
|
3,153,583
|
|
Baltimore Gas and Electric Co.
|
|
|
|
|
3.50%, 08/15/46
|
|
800
|
604,191
|
|
3.75%, 08/15/47
|
|
500
|
386,759
|
|
California Buyer Ltd./Atlantica Sustainable Infrastructure
PLC, 6.38%, 02/15/32(b)
|
|
150
|
153,740
|
|
CenterPoint Energy Houston Electric LLC, Series AI,
4.45%, 10/01/32
|
|
750
|
745,724
|
|
Cleveland Electric Illuminating Co., 5.95%, 12/15/36
|
|
434
|
461,659
|
|
ContourGlobal Power Holdings SA, 6.75%, 02/28/30(b)
|
|
200
|
207,748
|
|
Duke Energy Carolinas LLC, 6.10%, 06/01/37
|
|
640
|
687,700
|
|
Duke Energy Florida LLC, 5.65%, 04/01/40
|
|
770
|
803,399
|
|
E.ON International Finance BV, 6.65%, 04/30/38(b)
|
|
2,000
|
2,218,363
|
|
Edison International, Series A, (5-year CMT + 4.70%),
5.38%(a)(i)
|
|
3,000
|
2,912,610
|
|
Electricite de France SA, 5.60%, 01/27/40(b)
|
|
2,800
|
2,822,021
|
|
Eversource Energy, 2.55%, 03/15/31
|
|
350
|
315,575
|
|
Minejesa Capital BV, 5.63%, 08/10/37(b)
|
|
200
|
198,800
|
|
Mong Duong Finance Holdings BV, 5.13%, 05/07/29(d)
|
|
390
|
385,907
|
|
Oncor Electric Delivery Co. LLC
|
|
|
|
|
4.15%, 06/01/32
|
|
1,000
|
977,920
|
|
4.55%, 09/15/32
|
|
1,000
|
998,457
|
|
Pike Corp., 8.63%, 01/31/31(b)
|
|
57
|
61,147
|
|
San Diego Gas & Electric Co.
|
|
|
|
|
4.95%, 08/15/28
|
|
1,565
|
1,603,008
|
|
Series VVV, 1.70%, 10/01/30
|
|
750
|
661,776
|
|
SCC Power PLC(b)(h)
|
|
|
|
|
(4.00% Cash and 4.00% PIK), 8.00%, 12/31/28
|
|
130
|
78,318
|
|
(4.00% Cash or 4.00% PIK), 4.00%, 05/17/32
|
|
140
|
34,358
|
|
Southern California Edison Co., Series 2005-E, 5.35%,
07/15/35
|
|
1,300
|
1,302,211
|
|
Star Energy Geothermal Wayang Windu Ltd., 6.75%,
04/24/33(d)
|
|
178
|
183,865
|
|
Virginia Electric and Power Co., 6.35%, 11/30/37
|
|
3,920
|
4,314,499
|
|
Vistra Operations Co. LLC(b)
|
|
|
|
|
7.75%, 10/15/31
|
|
119
|
125,925
|
|
6.88%, 04/15/32
|
|
220
|
230,093
|
|
XPLR Infrastructure Operating Partners LP(b)
|
|
|
|
|
3.88%, 10/15/26
|
|
41
|
40,411
|
|
8.38%, 01/15/31(f)
|
|
461
|
483,128
|
|
|
|
|
27,551,262
|
|
Electronic Equipment, Instruments & Components(b) — 0.1%
|
|||
|
Coherent Corp., 5.00%, 12/15/29(f)
|
|
121
|
119,331
|
|
Imola Merger Corp., 4.75%, 05/15/29
|
|
40
|
38,905
|
|
Security
|
|
Par
(000)
|
Value
|
|
Electronic Equipment, Instruments & Components (continued)
|
|||
|
Sensata Technologies, Inc., 3.75%, 02/15/31
|
USD
|
529
|
$ 488,203
|
|
WESCO Distribution, Inc.
|
|
|
|
|
6.63%, 03/15/32
|
|
89
|
92,490
|
|
6.38%, 03/15/33
|
|
50
|
51,831
|
|
Zebra Technologies Corp., 6.50%, 06/01/32
|
|
77
|
79,085
|
|
|
|
|
869,845
|
|
Energy Equipment & Services — 0.4%
|
|||
|
Archrock Partners LP/Archrock Partners Finance
Corp.(b)
|
|
|
|
|
6.88%, 04/01/27
|
|
79
|
79,004
|
|
6.63%, 09/01/32
|
|
157
|
161,048
|
|
Halliburton Co., 4.75%, 08/01/43
|
|
500
|
447,469
|
|
Kodiak Gas Services LLC(b)
|
|
|
|
|
7.25%, 02/15/29
|
|
385
|
399,501
|
|
6.50%, 10/01/33
|
|
191
|
194,472
|
|
6.75%, 10/01/35
|
|
143
|
146,826
|
|
Oceaneering International, Inc., 6.00%, 02/01/28
|
|
45
|
45,556
|
|
OEG Finance PLC, 7.25%, 09/27/29(d)
|
EUR
|
100
|
122,709
|
|
Star Holding LLC, 8.75%, 08/01/31(b)
|
USD
|
138
|
136,924
|
|
Tidewater, Inc., 9.13%, 07/15/30(b)
|
|
109
|
116,897
|
|
USA Compression Partners LP/USA Compression
Finance Corp.(b)
|
|
|
|
|
7.13%, 03/15/29
|
|
134
|
138,197
|
|
6.25%, 10/01/33
|
|
334
|
335,278
|
|
Weatherford International Ltd.(b)
|
|
|
|
|
8.63%, 04/30/30
|
|
329
|
336,321
|
|
10/15/33(g)
|
|
300
|
300,209
|
|
|
|
|
2,960,411
|
|
Entertainment(b) — 0.1%
|
|||
|
Flutter Treasury DAC, 5.88%, 06/04/31
|
|
464
|
470,969
|
|
Scientific Games Holdings LP/Scientific Games
U.S. FinCo, Inc., 6.63%, 03/01/30
|
|
157
|
145,965
|
|
|
|
|
616,934
|
|
Environmental, Maintenance & Security Service — 0.3%
|
|||
|
Clean Harbors, Inc., 6.38%, 02/01/31(b)
|
|
6
|
6,144
|
|
GFL Environmental, Inc.(b)
|
|
|
|
|
4.00%, 08/01/28
|
|
269
|
262,619
|
|
4.75%, 06/15/29
|
|
148
|
145,975
|
|
6.75%, 01/15/31
|
|
111
|
116,153
|
|
Luna 1.5 SARL(h)
|
|
|
|
|
(10.50% PIK), 10.50%, 07/01/32(b)
|
EUR
|
135
|
164,246
|
|
(10.50% PIK), 10.50%, 07/01/32(d)
|
|
100
|
121,664
|
|
Madison IAQ LLC(b)
|
|
|
|
|
4.13%, 06/30/28
|
USD
|
172
|
167,865
|
|
5.88%, 06/30/29(f)
|
|
351
|
346,753
|
|
Reworld Holding Corp., 4.88%, 12/01/29(b)
|
|
92
|
86,523
|
|
Waste Management, Inc., 2.95%, 06/01/41
|
|
350
|
265,460
|
|
Waste Pro USA, Inc., 7.00%, 02/01/33(b)
|
|
631
|
653,588
|
|
Wrangler Holdco Corp., 6.63%, 04/01/32(b)
|
|
45
|
46,922
|
|
|
|
|
2,383,912
|
|
Financial Services — 7.7%
|
|||
|
Ally Financial, Inc., Series B, (5-year CMT + 3.87%),
4.70%(a)(i)
|
|
2,500
|
2,434,819
|
|
Azorra Finance Ltd.(b)
|
|
|
|
|
7.75%, 04/15/30
|
|
92
|
96,485
|
|
7.25%, 01/15/31
|
|
145
|
150,987
|
|
Bank of America Corp.(a)
|
|
|
|
|
(1-day SOFR + 1.00%), 5.16%, 01/24/31(f)
|
|
500
|
516,043
|
|
(1-day SOFR + 1.64%), 5.46%, 05/09/36
|
|
2,000
|
2,085,088
|
|
Security
|
|
Par
(000)
|
Value
|
|
Financial Services (continued)
|
|||
|
Bank of America Corp.(a) (continued)
|
|
|
|
|
(3-mo. CME Term SOFR + 1.57%), 4.27%,
07/23/29(f)
|
USD
|
4,000
|
$ 4,013,842
|
|
Barclays PLC, (1-year CMT + 1.05%), 2.28%,
11/24/27(a)(f)
|
|
3,000
|
2,933,288
|
|
Citigroup, Inc.(a)
|
|
|
|
|
(1-day SOFR + 1.46%), 4.95%, 05/07/31
|
|
2,000
|
2,038,003
|
|
(1-day SOFR + 1.94%), 3.79%, 03/17/33
|
|
2,000
|
1,899,966
|
|
(1-day SOFR + 2.34%), 6.27%, 11/17/33(f)
|
|
1,567
|
1,710,170
|
|
CrossCountry Intermediate HoldCo LLC, 6.50%,
10/01/30(b)
|
|
148
|
148,545
|
|
Deutsche Bank AG/New York, (1-day SOFR + 3.18%),
6.72%, 01/18/29(a)(f)
|
|
850
|
892,618
|
|
Freedom Mortgage Holdings LLC(b)
|
|
|
|
|
9.25%, 02/01/29
|
|
98
|
103,113
|
|
9.13%, 05/15/31
|
|
162
|
172,295
|
|
8.38%, 04/01/32
|
|
103
|
107,959
|
|
GGAM Finance Ltd.(b)
|
|
|
|
|
7.75%, 05/15/26
|
|
30
|
30,075
|
|
8.00%, 06/15/28
|
|
113
|
119,605
|
|
6.88%, 04/15/29
|
|
86
|
89,183
|
|
5.88%, 03/15/30
|
|
72
|
72,990
|
|
Global Aircraft Leasing Co. Ltd., 8.75%, 09/01/27(b)
|
|
186
|
191,788
|
|
Goldman Sachs Group, Inc.(a)
|
|
|
|
|
(1-day SOFR + 1.55%), 5.33%, 07/23/35
|
|
2,000
|
2,058,888
|
|
(1-day SOFR + 1.58%), 5.22%, 04/23/31
|
|
2,000
|
2,068,211
|
|
(3-mo. CME Term SOFR + 1.56%), 4.22%,
05/01/29(f)
|
|
4,000
|
4,004,667
|
|
HSBC Holdings PLC, 6.10%, 01/14/42
|
|
610
|
663,934
|
|
Jefferies Finance LLC/JFIN Co-Issuer Corp., 5.00%,
08/15/28(b)
|
|
220
|
212,561
|
|
JPMorgan Chase & Co.(a)
|
|
|
|
|
(1-day SOFR + 1.13%), 5.00%, 07/22/30
|
|
3,000
|
3,077,230
|
|
(1-day SOFR + 1.18%), 2.55%, 11/08/32
|
|
1,000
|
896,920
|
|
(1-day SOFR + 1.44%), 5.10%, 04/22/31
|
|
3,000
|
3,099,360
|
|
(1-day SOFR + 1.62%), 5.34%, 01/23/35
|
|
540
|
561,263
|
|
(1-day SOFR + 2.08%), 4.91%, 07/25/33
|
|
1,381
|
1,408,215
|
|
(3-mo. CME Term SOFR + 1.42%), 3.70%, 05/06/30
|
|
1,000
|
982,800
|
|
(3-mo. CME Term SOFR + 2.46%), 3.11%, 04/22/41
|
|
800
|
628,693
|
|
Midcap Financial Issuer Trust(b)
|
|
|
|
|
6.50%, 05/01/28
|
|
200
|
198,630
|
|
5.63%, 01/15/30
|
|
200
|
188,582
|
|
Morgan Stanley(a)
|
|
|
|
|
(1-day SOFR + 1.26%), 5.66%, 04/18/30
|
|
3,000
|
3,132,644
|
|
(1-day SOFR + 1.51%), 5.19%, 04/17/31
|
|
3,000
|
3,097,778
|
|
(1-day SOFR + 1.73%), 5.12%, 02/01/29(f)
|
|
3,000
|
3,064,644
|
|
(1-day SOFR + 1.73%), 5.47%, 01/18/35
|
|
600
|
624,927
|
|
(1-day SOFR + 1.88%), 5.42%, 07/21/34
|
|
735
|
765,797
|
|
Nationstar Mortgage Holdings, Inc.(b)
|
|
|
|
|
6.50%, 08/01/29
|
|
174
|
178,505
|
|
5.13%, 12/15/30
|
|
87
|
87,766
|
|
5.75%, 11/15/31
|
|
71
|
71,746
|
|
7.13%, 02/01/32(f)
|
|
472
|
492,675
|
|
NatWest Group PLC, (1-year CMT + 2.27%), 5.52%,
09/30/28(a)
|
|
1,000
|
1,024,835
|
|
PennyMac Financial Services, Inc.(b)
|
|
|
|
|
7.88%, 12/15/29
|
|
139
|
147,520
|
|
7.13%, 11/15/30
|
|
72
|
74,971
|
|
6.88%, 05/15/32
|
|
217
|
224,855
|
|
6.75%, 02/15/34
|
|
97
|
98,948
|
|
Phoenix Aviation Capital Ltd., 9.25%, 07/15/30(b)
|
|
313
|
333,005
|
|
PRA Group Europe Holding II SARL, 6.25%, 09/30/32(d)
|
EUR
|
100
|
115,673
|
|
Security
|
|
Par
(000)
|
Value
|
|
Financial Services (continued)
|
|||
|
Rocket Cos., Inc.(b)
|
|
|
|
|
6.13%, 08/01/30
|
USD
|
759
|
$ 778,977
|
|
6.38%, 08/01/33
|
|
668
|
689,452
|
|
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer,
Inc.(b)
|
|
|
|
|
2.88%, 10/15/26(f)
|
|
200
|
195,906
|
|
3.88%, 03/01/31
|
|
16
|
14,942
|
|
4.00%, 10/15/33
|
|
19
|
17,352
|
|
UBS AG/Stamford CT, 5.00%, 07/09/27
|
|
900
|
915,145
|
|
UWM Holdings LLC(b)
|
|
|
|
|
6.63%, 02/01/30
|
|
154
|
156,662
|
|
6.25%, 03/15/31
|
|
106
|
105,495
|
|
|
|
|
56,267,036
|
|
Food Products — 0.5%
|
|||
|
Aramark Services, Inc., 5.00%, 02/01/28(b)
|
|
122
|
121,425
|
|
B&G Foods, Inc., 8.00%, 09/15/28(b)
|
|
48
|
46,508
|
|
Chobani Holdco II LLC, (8.75% in Cash or 9.5% in PIK),
8.75%, 10/01/29(b)(h)
|
|
607
|
643,751
|
|
Chobani LLC/Chobani Finance Corp., Inc.(b)
|
|
|
|
|
4.63%, 11/15/28
|
|
345
|
341,147
|
|
7.63%, 07/01/29
|
|
934
|
973,926
|
|
Darling Global Finance BV
|
|
|
|
|
4.50%, 07/15/32(d)
|
EUR
|
100
|
118,535
|
|
4.50%, 07/15/32(b)
|
|
100
|
118,535
|
|
Darling Ingredients, Inc., 6.00%, 06/15/30(b)
|
USD
|
9
|
9,086
|
|
Fiesta Purchaser, Inc.(b)
|
|
|
|
|
7.88%, 03/01/31
|
|
15
|
15,830
|
|
9.63%, 09/15/32
|
|
48
|
51,821
|
|
Kraft Heinz Foods Co.
|
|
|
|
|
5.00%, 06/04/42
|
|
500
|
461,578
|
|
4.38%, 06/01/46
|
|
200
|
166,438
|
|
Lamb Weston Holdings, Inc.(b)
|
|
|
|
|
4.13%, 01/31/30
|
|
90
|
86,420
|
|
4.38%, 01/31/32
|
|
110
|
103,963
|
|
Post Holdings, Inc.(b)
|
|
|
|
|
4.63%, 04/15/30
|
|
67
|
64,589
|
|
4.50%, 09/15/31
|
|
9
|
8,408
|
|
6.25%, 02/15/32
|
|
64
|
65,797
|
|
6.38%, 03/01/33
|
|
235
|
237,188
|
|
6.25%, 10/15/34
|
|
133
|
134,107
|
|
|
|
|
3,769,052
|
|
Ground Transportation — 0.9%
|
|||
|
Burlington Northern Santa Fe LLC, 5.05%, 03/01/41
|
|
1,890
|
1,859,316
|
|
Genesee & Wyoming, Inc., 6.25%, 04/15/32(b)
|
|
140
|
142,260
|
|
Lima Metro Line 2 Finance Ltd., 5.88%, 07/05/34(b)(f)
|
|
1,947
|
2,013,188
|
|
Norfolk Southern Corp., 5.05%, 08/01/30
|
|
1,800
|
1,866,130
|
|
Union Pacific Corp.
|
|
|
|
|
3.38%, 02/14/42
|
|
350
|
277,391
|
|
3.55%, 05/20/61
|
|
800
|
551,729
|
|
Watco Cos. LLC/Watco Finance Corp., 7.13%,
08/01/32(b)
|
|
124
|
128,349
|
|
|
|
|
6,838,363
|
|
Health Care Equipment & Supplies — 0.4%
|
|||
|
Avantor Funding, Inc.
|
|
|
|
|
2.63%, 11/01/25(d)
|
EUR
|
38
|
45,136
|
|
4.63%, 07/15/28(b)
|
USD
|
115
|
113,121
|
|
3.88%, 11/01/29(b)
|
|
17
|
16,166
|
|
Bausch & Lomb Corp., 8.38%, 10/01/28(b)
|
|
958
|
998,416
|
|
Insulet Corp., 6.50%, 04/01/33(b)
|
|
125
|
129,954
|
|
Security
|
|
Par
(000)
|
Value
|
|
Health Care Equipment & Supplies (continued)
|
|||
|
Neogen Food Safety Corp., 8.63%, 07/20/30(b)
|
USD
|
128
|
$ 133,852
|
|
Thermo Fisher Scientific, Inc.
|
|
|
|
|
5.09%, 08/10/33
|
|
495
|
512,885
|
|
2.80%, 10/15/41
|
|
1,000
|
738,828
|
|
|
|
|
2,688,358
|
|
Health Care Providers & Services — 2.5%
|
|||
|
Acadia Healthcare Co., Inc., 7.38%, 03/15/33(b)(f)
|
|
64
|
66,444
|
|
Aetna, Inc., 4.50%, 05/15/42
|
|
575
|
497,073
|
|
AHP Health Partners, Inc., 5.75%, 07/15/29(b)
|
|
153
|
150,574
|
|
CHS/Community Health Systems, Inc.(b)
|
|
|
|
|
6.00%, 01/15/29
|
|
335
|
325,164
|
|
5.25%, 05/15/30
|
|
764
|
691,148
|
|
4.75%, 02/15/31
|
|
285
|
246,453
|
|
10.88%, 01/15/32
|
|
291
|
308,197
|
|
9.75%, 01/15/34
|
|
521
|
533,765
|
|
Concentra Health Services, Inc., 6.88%, 07/15/32(b)
|
|
274
|
284,517
|
|
DaVita, Inc.(b)
|
|
|
|
|
6.88%, 09/01/32
|
|
94
|
97,105
|
|
6.75%, 07/15/33
|
|
147
|
151,586
|
|
Elevance Health, Inc., 4.65%, 08/15/44
|
|
1,500
|
1,330,418
|
|
Fortrea Holdings, Inc., 7.50%, 07/01/30(b)
|
|
63
|
59,657
|
|
HAH Group Holding Co. LLC, 9.75%, 10/01/31(b)
|
|
84
|
79,807
|
|
HCA, Inc.
|
|
|
|
|
5.00%, 03/01/28
|
|
3,000
|
3,055,208
|
|
5.50%, 06/15/47
|
|
1,090
|
1,039,817
|
|
HealthEquity, Inc., 4.50%, 10/01/29(b)
|
|
170
|
164,836
|
|
IQVIA, Inc., 6.25%, 06/01/32(b)
|
|
553
|
568,562
|
|
LifePoint Health, Inc.(b)
|
|
|
|
|
9.88%, 08/15/30
|
|
94
|
101,796
|
|
11.00%, 10/15/30
|
|
441
|
486,051
|
|
8.38%, 02/15/32
|
|
109
|
116,162
|
|
10.00%, 06/01/32(f)
|
|
166
|
174,293
|
|
Medline Borrower LP(b)
|
|
|
|
|
3.88%, 04/01/29
|
|
67
|
64,618
|
|
5.25%, 10/01/29(f)
|
|
828
|
820,841
|
|
Medline Borrower LP/Medline Co-Issuer, Inc., 6.25%,
04/01/29(b)
|
|
334
|
342,485
|
|
Molina Healthcare, Inc., 6.25%, 01/15/33(b)
|
|
32
|
32,356
|
|
Northwell Healthcare, Inc., 4.26%, 11/01/47
|
|
725
|
594,143
|
|
Prime Healthcare Services, Inc., 9.38%, 09/01/29(b)
|
|
63
|
65,520
|
|
Sotera Health Holdings LLC, 7.38%, 06/01/31(b)
|
|
105
|
110,252
|
|
Star Parent, Inc., 9.00%, 10/01/30(b)
|
|
346
|
365,789
|
|
Surgery Center Holdings, Inc., 7.25%, 04/15/32(b)(f)
|
|
448
|
460,206
|
|
Sutter Health, Series 2025, 5.54%, 08/15/35
|
|
1,750
|
1,835,509
|
|
Tenet Healthcare Corp., 6.75%, 05/15/31
|
|
181
|
187,386
|
|
U.S. Acute Care Solutions LLC, 9.75%, 05/15/29(b)
|
|
162
|
165,885
|
|
UnitedHealth Group, Inc.
|
|
|
|
|
5.35%, 02/15/33
|
|
340
|
355,365
|
|
5.80%, 03/15/36
|
|
1,750
|
1,874,384
|
|
5.70%, 10/15/40
|
|
600
|
621,066
|
|
|
|
|
18,424,438
|
|
Health Care REITs — 0.3%
|
|||
|
Alexandria Real Estate Equities, Inc.
|
|
|
|
|
4.75%, 04/15/35
|
|
140
|
136,725
|
|
4.85%, 04/15/49
|
|
550
|
478,115
|
|
Diversified Healthcare Trust, 7.25%, 10/15/30(b)
|
|
80
|
81,306
|
|
Security
|
|
Par
(000)
|
Value
|
|
Health Care REITs (continued)
|
|||
|
MPT Operating Partnership LP/MPT Finance Corp.,
8.50%, 02/15/32(b)
|
USD
|
537
|
$ 570,596
|
|
Ventas Realty LP, 3.25%, 10/15/26
|
|
870
|
860,914
|
|
|
|
|
2,127,656
|
|
Hotel & Resort REITs — 0.3%
|
|||
|
Park Intermediate Holdings LLC/PK Domestic Property
LLC/PK Finance Co-Issuer, 7.00%, 02/01/30(b)
|
|
121
|
124,738
|
|
Pebblebrook Hotel LP/PEB Finance Corp., 6.38%,
10/15/29(b)
|
|
65
|
65,969
|
|
RHP Hotel Properties LP/RHP Finance Corp.(b)
|
|
|
|
|
7.25%, 07/15/28
|
|
72
|
74,277
|
|
6.50%, 04/01/32
|
|
188
|
193,281
|
|
6.50%, 06/15/33
|
|
214
|
220,396
|
|
Service Properties Trust
|
|
|
|
|
0.00%, 09/30/27(b)(k)
|
|
157
|
138,400
|
|
8.63%, 11/15/31(b)
|
|
955
|
1,016,783
|
|
8.88%, 06/15/32
|
|
253
|
254,422
|
|
XHR LP, 6.63%, 05/15/30(b)
|
|
64
|
65,758
|
|
|
|
|
2,154,024
|
|
Hotels, Restaurants & Leisure — 1.8%
|
|||
|
Boyne USA, Inc., 4.75%, 05/15/29(b)
|
|
47
|
46,111
|
|
Burger King (Restaurant Brands International Inc.)/New
Red Finance, Inc., 5.63%, 09/15/29(b)
|
|
33
|
33,397
|
|
Burger King (Restaurant Brands International, Inc.)/New
Red Finance, Inc.(b)
|
|
|
|
|
3.88%, 01/15/28
|
|
39
|
38,066
|
|
4.38%, 01/15/28
|
|
144
|
141,492
|
|
4.00%, 10/15/30
|
|
31
|
29,215
|
|
Caesars Entertainment, Inc.(b)
|
|
|
|
|
4.63%, 10/15/29
|
|
2
|
1,912
|
|
7.00%, 02/15/30
|
|
359
|
369,270
|
|
6.50%, 02/15/32
|
|
166
|
169,318
|
|
Carnival Corp.(b)
|
|
|
|
|
5.88%, 06/15/31
|
|
107
|
109,648
|
|
5.75%, 08/01/32
|
|
109
|
110,927
|
|
6.13%, 02/15/33
|
|
455
|
466,391
|
|
Carnival PLC, 4.13%, 07/15/31(b)
|
EUR
|
235
|
279,299
|
|
Churchill Downs, Inc.(b)
|
|
|
|
|
4.75%, 01/15/28
|
USD
|
35
|
34,533
|
|
5.75%, 04/01/30
|
|
149
|
148,866
|
|
6.75%, 05/01/31
|
|
223
|
228,543
|
|
Corvias Campus Living - USG LLC, 5.30%, 07/01/50(c)
|
|
5,476
|
1,916,431
|
|
Fertitta Entertainment LLC/Fertitta Entertainment
Finance Co., Inc., 4.63%, 01/15/29(b)
|
|
162
|
154,182
|
|
Great Canadian Gaming Corp./Raptor LLC, 8.75%,
11/15/29(b)
|
|
215
|
212,600
|
|
Hilton Domestic Operating Co., Inc.(b)
|
|
|
|
|
6.13%, 04/01/32
|
|
60
|
61,682
|
|
5.88%, 03/15/33
|
|
197
|
201,097
|
|
5.75%, 09/15/33
|
|
32
|
32,427
|
|
Light & Wonder International, Inc.(b)
|
|
|
|
|
7.25%, 11/15/29
|
|
96
|
98,532
|
|
7.50%, 09/01/31
|
|
63
|
65,517
|
|
6.25%, 10/01/33
|
|
146
|
146,248
|
|
Lindblad Expeditions LLC, 7.00%, 09/15/30(b)
|
|
192
|
195,704
|
|
MajorDrive Holdings IV LLC, 6.38%, 06/01/29(b)
|
|
160
|
131,116
|
|
Melco Resorts Finance Ltd.(b)
|
|
|
|
|
5.75%, 07/21/28
|
|
200
|
199,900
|
|
5.38%, 12/04/29
|
|
400
|
390,780
|
|
7.63%, 04/17/32
|
|
400
|
419,000
|
|
Security
|
|
Par
(000)
|
Value
|
|
Hotels, Restaurants & Leisure (continued)
|
|||
|
Merlin Entertainments Group U.S. Holdings, Inc., 7.38%,
02/15/31(b)
|
USD
|
200
|
$ 172,340
|
|
MGM China Holdings Ltd., 5.88%, 05/15/26(d)
|
|
450
|
449,721
|
|
MGM Resorts International, 6.13%, 09/15/29
|
|
129
|
131,296
|
|
Mohegan Tribal Gaming Authority/MS Digital
Entertainment Holdings LLC, 8.25%, 04/15/30(b)
|
|
133
|
138,192
|
|
NCL Corp. Ltd.(b)
|
|
|
|
|
5.88%, 01/15/31
|
|
261
|
260,990
|
|
6.75%, 02/01/32
|
|
186
|
191,288
|
|
6.25%, 09/15/33
|
|
416
|
418,153
|
|
Premier Entertainment Sub LLC/Premier Entertainment
Finance Corp.(b)
|
|
|
|
|
5.63%, 09/01/29
|
|
63
|
34,020
|
|
5.88%, 09/01/31
|
|
107
|
55,165
|
|
Raising Cane’s Restaurants LLC, 9.38%, 05/01/29(b)
|
|
90
|
94,477
|
|
Rivers Enterprise Borrower LLC/Rivers Enterprise
Finance Corp., 6.63%, 02/01/33(b)
|
|
88
|
89,173
|
|
Rivers Enterprise Lender LLC/Rivers Enterprise Lender
Corp., 10/15/30(b)(g)
|
|
84
|
84,749
|
|
Sabre GLBL, Inc.(b)
|
|
|
|
|
8.63%, 06/01/27
|
|
103
|
104,475
|
|
10.75%, 11/15/29(f)
|
|
274
|
264,793
|
|
11.13%, 07/15/30
|
|
317
|
306,999
|
|
Starz Capital Holdings 1, Inc., 6.00%, 04/15/30(b)
|
|
155
|
146,993
|
|
Station Casinos LLC(b)
|
|
|
|
|
4.50%, 02/15/28
|
|
7
|
6,882
|
|
6.63%, 03/15/32
|
|
100
|
102,724
|
|
Vail Resorts, Inc.(b)
|
|
|
|
|
5.63%, 07/15/30
|
|
113
|
113,706
|
|
6.50%, 05/15/32
|
|
193
|
199,552
|
|
Viking Cruises Ltd.(b)
|
|
|
|
|
5.88%, 09/15/27
|
|
95
|
95,037
|
|
7.00%, 02/15/29
|
|
34
|
34,172
|
|
9.13%, 07/15/31
|
|
195
|
209,297
|
|
10/15/33(g)
|
|
363
|
363,255
|
|
Viking Ocean Cruises Ship VII Ltd., 5.63%, 02/15/29(b)
|
|
111
|
110,905
|
|
Voyager Parent LLC, 9.25%, 07/01/32(b)
|
|
229
|
242,165
|
|
Warnermedia Holdings, Inc., 5.05%, 03/15/42
|
|
1,071
|
855,001
|
|
Wynn Macau Ltd.(b)
|
|
|
|
|
5.63%, 08/26/28
|
|
800
|
798,408
|
|
5.13%, 12/15/29
|
|
200
|
195,630
|
|
Wynn Resorts Finance LLC/Wynn Resorts Capital
Corp.(b)
|
|
|
|
|
5.13%, 10/01/29
|
|
116
|
116,179
|
|
7.13%, 02/15/31(f)
|
|
112
|
120,551
|
|
6.25%, 03/15/33
|
|
242
|
245,746
|
|
|
|
|
13,184,238
|
|
Household Durables — 0.2%
|
|||
|
Ashton Woods USA LLC/Ashton Woods Finance Co.,
6.88%, 08/01/33(b)
|
|
83
|
83,712
|
|
Beazer Homes USA, Inc., 5.88%, 10/15/27
|
|
28
|
27,983
|
|
Century Communities, Inc., 6.63%, 09/15/33(b)
|
|
104
|
104,911
|
|
Dream Finders Homes, Inc., 8.25%, 08/15/28(b)
|
|
58
|
60,172
|
|
Empire Communities Corp., 9.75%, 05/01/29(b)
|
|
28
|
29,359
|
|
K Hovnanian Enterprises, Inc.(b)
|
|
|
|
|
8.00%, 04/01/31
|
|
176
|
180,476
|
|
8.38%, 10/01/33
|
|
194
|
198,899
|
|
LGI Homes, Inc.(b)
|
|
|
|
|
8.75%, 12/15/28
|
|
56
|
58,790
|
|
7.00%, 11/15/32
|
|
69
|
67,373
|
|
Meritage Homes Corp., 1.75%, 05/15/28(j)
|
|
206
|
210,833
|
|
Newell Brands, Inc., 8.50%, 06/01/28(b)
|
|
106
|
112,120
|
|
Security
|
|
Par
(000)
|
Value
|
|
Household Durables (continued)
|
|||
|
Scotts Miracle-Gro Co.
|
|
|
|
|
4.50%, 10/15/29
|
USD
|
13
|
$ 12,630
|
|
4.38%, 02/01/32
|
|
22
|
20,313
|
|
Somnigroup International, Inc., 3.88%, 10/15/31(b)
|
|
45
|
41,214
|
|
STL Holding Co. LLC, 8.75%, 02/15/29(b)
|
|
76
|
79,642
|
|
Whirlpool Corp.
|
|
|
|
|
6.13%, 06/15/30
|
|
109
|
109,854
|
|
6.50%, 06/15/33
|
|
152
|
151,687
|
|
|
|
|
1,549,968
|
|
Independent Power and Renewable Electricity Producers — 0.4%
|
|||
|
Calpine Corp.(b)
|
|
|
|
|
4.50%, 02/15/28
|
|
4
|
3,983
|
|
5.13%, 03/15/28
|
|
92
|
92,047
|
|
5.00%, 02/01/31
|
|
30
|
29,912
|
|
Clearway Energy Operating LLC, 4.75%, 03/15/28(b)
|
|
93
|
91,878
|
|
Greenko Dutch BV, 3.85%, 03/29/26(d)
|
|
173
|
171,314
|
|
India Cleantech Energy, 4.70%, 08/10/26(b)
|
|
190
|
187,947
|
|
Lightning Power LLC, 7.25%, 08/15/32(b)
|
|
49
|
51,877
|
|
NRG Energy, Inc.(b)
|
|
|
|
|
5.75%, 07/15/29
|
|
81
|
81,097
|
|
6.00%, 02/01/33
|
|
542
|
550,439
|
|
01/15/34(g)
|
|
362
|
361,631
|
|
6.25%, 11/01/34
|
|
100
|
102,509
|
|
01/15/36(g)
|
|
965
|
965,139
|
|
Vistra Corp., (5-year CMT + 6.93%), 8.00%(a)(b)(i)
|
|
100
|
102,286
|
|
|
|
|
2,792,059
|
|
Industrial Conglomerates — 0.1%
|
|||
|
Amsted Industries, Inc., 6.38%, 03/15/33(b)
|
|
66
|
67,741
|
|
Axon Enterprise, Inc., 6.25%, 03/15/33(b)
|
|
52
|
53,523
|
|
Eaton Corp., 4.15%, 11/02/42
|
|
500
|
441,859
|
|
Enpro, Inc., 6.13%, 06/01/33(b)
|
|
85
|
86,874
|
|
Maxam Prill SARL, 6.00%, 07/15/30(d)
|
EUR
|
100
|
119,192
|
|
|
|
|
769,189
|
|
Insurance — 3.0%
|
|||
|
Acrisure LLC/Acrisure Finance, Inc., 6.75%, 07/01/32(b)
|
USD
|
108
|
111,206
|
|
Alliant Holdings Intermediate LLC/Alliant Holdings Co-
Issuer(b)
|
|
|
|
|
4.25%, 10/15/27
|
|
473
|
465,147
|
|
6.75%, 10/15/27
|
|
546
|
547,176
|
|
6.75%, 04/15/28
|
|
71
|
72,259
|
|
5.88%, 11/01/29
|
|
1,093
|
1,087,300
|
|
7.00%, 01/15/31
|
|
297
|
306,869
|
|
7.38%, 10/01/32
|
|
493
|
508,003
|
|
AmWINS Group, Inc., 6.38%, 02/15/29(b)
|
|
85
|
86,728
|
|
Amynta Agency Borrower, Inc. and Amynta Warranty
Borrower, Inc., 7.50%, 07/15/33(b)
|
|
201
|
205,753
|
|
Aon Global Ltd., 4.60%, 06/14/44
|
|
500
|
441,483
|
|
APH Somerset Investor 2 LLC/APH2 Somerset Investor
2 LLC/APH3 Somerset Investor 2 LLC, 7.88%,
11/01/29(b)
|
|
140
|
146,107
|
|
Ardonagh Finco Ltd.
|
|
|
|
|
6.88%, 02/15/31(d)
|
EUR
|
200
|
242,704
|
|
7.75%, 02/15/31(b)
|
USD
|
893
|
934,425
|
|
Ardonagh Group Finance Ltd., 8.88%, 02/15/32(b)
|
|
936
|
984,012
|
|
Berkshire Hathaway Finance Corp., 4.40%, 05/15/42(f)
|
|
500
|
467,173
|
|
Howden U.K. Refinance PLC/Howden U.K. Refinance
2 PLC/Howden U.S. Refinance LLC(b)
|
|
|
|
|
7.25%, 02/15/31
|
|
1,000
|
1,029,571
|
|
8.13%, 02/15/32
|
|
586
|
607,974
|
|
HUB International Ltd.(b)
|
|
|
|
|
7.25%, 06/15/30
|
|
1,090
|
1,136,767
|
|
7.38%, 01/31/32
|
|
2,427
|
2,527,330
|
|
Security
|
|
Par
(000)
|
Value
|
|
Insurance (continued)
|
|||
|
Jones Deslauriers Insurance Management, Inc.(b)
|
|
|
|
|
8.50%, 03/15/30
|
USD
|
353
|
$ 370,865
|
|
6.88%, 10/01/33
|
|
211
|
209,894
|
|
Liberty Mutual Group, Inc., 6.50%, 05/01/42(b)
|
|
2,000
|
2,051,491
|
|
Marsh & McLennan Cos., Inc., 5.88%, 08/01/33
|
|
1,500
|
1,622,003
|
|
Nassau Cos., of New York, 7.88%, 07/15/30(b)
|
|
58
|
59,236
|
|
Panther Escrow Issuer LLC, 7.13%, 06/01/31(b)
|
|
1,564
|
1,626,745
|
|
Progressive Corp., 3.00%, 03/15/32
|
|
750
|
692,204
|
|
Prudential Financial, Inc.
|
|
|
|
|
5.90%, 03/17/36
|
|
500
|
534,227
|
|
6.63%, 12/01/37
|
|
1,625
|
1,848,967
|
|
Ryan Specialty LLC(b)
|
|
|
|
|
4.38%, 02/01/30
|
|
60
|
58,133
|
|
5.88%, 08/01/32
|
|
113
|
114,264
|
|
Teachers Insurance & Annuity Association of America,
4.27%, 05/15/47(b)
|
|
700
|
580,826
|
|
USI, Inc., 7.50%, 01/15/32(b)
|
|
378
|
396,400
|
|
|
|
|
22,073,242
|
|
Interactive Media & Services — 0.3%
|
|||
|
Alphabet, Inc., 5.30%, 05/15/65
|
|
600
|
597,020
|
|
iliad SA(d)
|
|
|
|
|
5.63%, 02/15/30
|
EUR
|
100
|
126,057
|
|
4.25%, 01/09/32
|
|
100
|
118,042
|
|
Meta Platforms, Inc., 5.55%, 08/15/64
|
USD
|
700
|
694,857
|
|
Snap, Inc.(b)
|
|
|
|
|
6.88%, 03/01/33(f)
|
|
288
|
294,365
|
|
6.88%, 03/15/34
|
|
170
|
172,062
|
|
|
|
|
2,002,403
|
|
Internet Software & Services — 0.4%
|
|||
|
Acuris Finance U.S., Inc./Acuris Finance SARL(b)
|
|
|
|
|
5.00%, 05/01/28
|
|
272
|
264,350
|
|
9.00%, 08/01/29
|
|
200
|
209,000
|
|
Amazon.com, Inc., 2.50%, 06/03/50
|
|
1,500
|
926,649
|
|
Cablevision Lightpath LLC(b)
|
|
|
|
|
3.88%, 09/15/27
|
|
220
|
213,585
|
|
5.63%, 09/15/28
|
|
200
|
196,735
|
|
Getty Images, Inc., 11.25%, 02/21/30(b)
|
|
95
|
90,718
|
|
Match Group Holdings II LLC(b)
|
|
|
|
|
4.13%, 08/01/30
|
|
20
|
18,890
|
|
3.63%, 10/01/31
|
|
24
|
21,752
|
|
6.13%, 09/15/33
|
|
205
|
206,801
|
|
Rakuten Group, Inc.(b)
|
|
|
|
|
11.25%, 02/15/27
|
|
200
|
216,769
|
|
9.75%, 04/15/29
|
|
200
|
224,893
|
|
|
|
|
2,590,142
|
|
IT Services — 0.7%
|
|||
|
Amentum Holdings, Inc., 7.25%, 08/01/32(b)
|
|
139
|
144,333
|
|
Atos SE(d)(l)
|
|
|
|
|
5.20%, 12/18/30
|
EUR
|
23
|
25,466
|
|
9.36%, 12/18/29
|
|
18
|
24,431
|
|
CA Magnum Holdings, 5.38%, 10/31/26(b)
|
USD
|
278
|
276,645
|
|
CACI International, Inc., 6.38%, 06/15/33(b)
|
|
180
|
185,679
|
|
Fair Isaac Corp.(b)
|
|
|
|
|
4.00%, 06/15/28
|
|
45
|
43,764
|
|
6.00%, 05/15/33
|
|
801
|
810,967
|
|
Fidelity National Information Services, Inc., 4.50%,
08/15/46
|
|
1,000
|
839,900
|
|
Fiserv, Inc., 4.40%, 07/01/49(f)
|
|
500
|
412,250
|
|
Fortress Intermediate 3, Inc., 7.50%, 06/01/31(b)
|
|
363
|
380,076
|
|
Insight Enterprises, Inc., 6.63%, 05/15/32(b)
|
|
78
|
79,973
|
|
International Business Machines Corp.
|
|
|
|
|
4.40%, 07/27/32
|
|
500
|
500,017
|
|
Security
|
|
Par
(000)
|
Value
|
|
IT Services (continued)
|
|||
|
International Business Machines Corp. (continued)
|
|
|
|
|
4.75%, 02/06/33(f)
|
USD
|
550
|
$ 558,976
|
|
3.43%, 02/09/52
|
|
750
|
529,630
|
|
McAfee Corp., 7.38%, 02/15/30(b)
|
|
252
|
233,753
|
|
Science Applications International Corp., 5.88%,
11/01/33(b)
|
|
141
|
141,044
|
|
|
|
|
5,186,904
|
|
Machinery — 0.4%
|
|||
|
Chart Industries, Inc.(b)
|
|
|
|
|
7.50%, 01/01/30
|
|
139
|
144,662
|
|
9.50%, 01/01/31
|
|
61
|
65,353
|
|
Esab Corp., 6.25%, 04/15/29(b)
|
|
145
|
148,959
|
|
GrafTech Global Enterprises, Inc., 9.88%, 12/23/29(b)(f)
|
|
82
|
69,905
|
|
Husky Injection Molding Systems Ltd./Titan Co-Borrower
LLC, 9.00%, 02/15/29(b)(f)
|
|
537
|
561,268
|
|
John Deere Capital Corp., 4.40%, 09/08/31
|
|
445
|
448,025
|
|
Manitowoc Co., Inc., 9.25%, 10/01/31(b)
|
|
72
|
75,543
|
|
Terex Corp.(b)
|
|
|
|
|
5.00%, 05/15/29
|
|
72
|
70,906
|
|
6.25%, 10/15/32
|
|
135
|
137,524
|
|
TK Elevator Midco GmbH, 4.38%, 07/15/27(d)
|
EUR
|
303
|
356,136
|
|
TK Elevator U.S. Newco, Inc., 5.25%, 07/15/27(b)
|
USD
|
741
|
738,380
|
|
Vertiv Group Corp., 4.13%, 11/15/28(b)
|
|
135
|
131,825
|
|
|
|
|
2,948,486
|
|
Media — 2.6%
|
|||
|
Cable One, Inc.(j)
|
|
|
|
|
0.00%, 03/15/26(k)
|
|
62
|
60,388
|
|
1.13%, 03/15/28
|
|
449
|
383,222
|
|
CCO Holdings LLC/CCO Holdings Capital Corp.
|
|
|
|
|
5.38%, 06/01/29(b)
|
|
21
|
20,860
|
|
6.38%, 09/01/29(b)
|
|
554
|
561,610
|
|
4.75%, 03/01/30(b)
|
|
62
|
59,493
|
|
4.25%, 02/01/31(b)
|
|
157
|
144,633
|
|
7.38%, 03/01/31(b)
|
|
1,204
|
1,242,269
|
|
4.75%, 02/01/32(b)
|
|
78
|
72,131
|
|
4.50%, 05/01/32
|
|
15
|
13,651
|
|
4.50%, 06/01/33(b)
|
|
80
|
71,125
|
|
4.25%, 01/15/34(b)(f)
|
|
736
|
636,318
|
|
Charter Communications Operating LLC/Charter
Communications Operating Capital
|
|
|
|
|
5.75%, 04/01/48
|
|
1,100
|
997,122
|
|
5.13%, 07/01/49
|
|
1,000
|
826,914
|
|
Cinemark USA, Inc., 7.00%, 08/01/32(b)
|
|
41
|
42,614
|
|
Comcast Corp.
|
|
|
|
|
6.45%, 03/15/37
|
|
790
|
883,463
|
|
3.90%, 03/01/38(f)
|
|
1,500
|
1,320,458
|
|
4.70%, 10/15/48
|
|
3,000
|
2,617,166
|
|
CSC Holdings LLC(b)
|
|
|
|
|
5.50%, 04/15/27
|
|
200
|
189,826
|
|
5.38%, 02/01/28
|
|
607
|
532,148
|
|
11.25%, 05/15/28
|
|
400
|
370,303
|
|
11.75%, 01/31/29
|
|
200
|
168,189
|
|
Directv Financing LLC, 8.88%, 02/01/30(b)
|
|
290
|
286,439
|
|
Directv Financing LLC/Directv Financing Co-Obligor,
Inc., 5.88%, 08/15/27(b)
|
|
332
|
331,628
|
|
DISH DBS Corp.(b)
|
|
|
|
|
5.25%, 12/01/26
|
|
763
|
749,719
|
|
5.75%, 12/01/28
|
|
373
|
357,573
|
|
DISH Network Corp., 11.75%, 11/15/27(b)
|
|
910
|
963,014
|
|
Gray Media, Inc.(b)
|
|
|
|
|
10.50%, 07/15/29
|
|
160
|
173,000
|
|
Security
|
|
Par
(000)
|
Value
|
|
Media (continued)
|
|||
|
Gray Media, Inc.(b) (continued)
|
|
|
|
|
9.63%, 07/15/32
|
USD
|
251
|
$ 256,431
|
|
7.25%, 08/15/33
|
|
302
|
299,268
|
|
Live Nation Entertainment, Inc., 4.75%, 10/15/27(b)
|
|
42
|
41,722
|
|
Midcontinent Communications, 8.00%, 08/15/32(b)
|
|
120
|
123,636
|
|
Sinclair Television Group, Inc., 8.13%, 02/15/33(b)(f)
|
|
439
|
450,533
|
|
Sirius XM Radio LLC(b)
|
|
|
|
|
3.13%, 09/01/26
|
|
21
|
20,710
|
|
5.00%, 08/01/27
|
|
216
|
214,963
|
|
TCI Communications, Inc., 7.88%, 02/15/26
|
|
610
|
617,557
|
|
Univision Communications, Inc.(b)
|
|
|
|
|
8.00%, 08/15/28
|
|
454
|
470,444
|
|
7.38%, 06/30/30(f)
|
|
120
|
120,574
|
|
8.50%, 07/31/31
|
|
292
|
301,532
|
|
9.38%, 08/01/32
|
|
237
|
252,563
|
|
VZ Secured Financing BV, 5.25%, 01/15/33(d)
|
EUR
|
100
|
117,400
|
|
Walt Disney Co.
|
|
|
|
|
7.63%, 11/30/28
|
USD
|
385
|
422,651
|
|
7.75%, 12/01/45
|
|
500
|
652,871
|
|
Ziggo BV, 4.88%, 01/15/30(b)
|
|
200
|
188,771
|
|
|
|
|
18,626,902
|
|
Metals & Mining — 0.9%
|
|||
|
Advanced Drainage Systems, Inc., 6.38%, 06/15/30(b)
|
|
153
|
155,710
|
|
Arsenal AIC Parent LLC(b)
|
|
|
|
|
8.00%, 10/01/30
|
|
161
|
170,466
|
|
11.50%, 10/01/31
|
|
649
|
720,797
|
|
Big River Steel LLC/BRS Finance Corp., 6.63%,
01/31/29(b)
|
|
302
|
302,118
|
|
Carpenter Technology Corp., 7.63%, 03/15/30
|
|
151
|
155,172
|
|
Cleveland-Cliffs, Inc., 6.88%, 11/01/29(b)
|
|
272
|
277,186
|
|
Constellium SE(b)
|
|
|
|
|
3.75%, 04/15/29
|
|
591
|
562,327
|
|
6.38%, 08/15/32
|
|
250
|
255,550
|
|
First Quantum Minerals Ltd.(b)
|
|
|
|
|
8.00%, 03/01/33
|
|
200
|
211,079
|
|
7.25%, 02/15/34
|
|
200
|
206,050
|
|
Glencore Funding LLC, 6.14%, 04/01/55(b)
|
|
600
|
627,243
|
|
Kaiser Aluminum Corp.(b)
|
|
|
|
|
4.63%, 03/01/28
|
|
90
|
88,992
|
|
4.50%, 06/01/31
|
|
331
|
311,978
|
|
Navoi Mining & Metallurgical Combinat, 6.95%,
10/17/31(b)
|
|
200
|
213,558
|
|
New Gold, Inc., 6.88%, 04/01/32(b)
|
|
162
|
169,683
|
|
Novelis Corp.(b)
|
|
|
|
|
4.75%, 01/30/30
|
|
95
|
91,548
|
|
6.88%, 01/30/30
|
|
256
|
265,465
|
|
3.88%, 08/15/31
|
|
175
|
159,545
|
|
6.38%, 08/15/33
|
|
338
|
341,493
|
|
Novelis Sheet Ingot GmbH, 3.38%, 04/15/29(d)
|
EUR
|
100
|
114,304
|
|
Rio Tinto Finance USA PLC, 4.13%, 08/21/42
|
USD
|
400
|
347,225
|
|
Samarco Mineracao SA(h)
|
|
|
|
|
(9.50% PIK), 9.50%, 06/30/31(d)
|
|
46
|
46,653
|
|
(9.50% PIK), 9.50%, 06/30/31(b)
|
|
9
|
8,789
|
|
Vale Overseas Ltd., 6.40%, 06/28/54
|
|
72
|
73,892
|
|
Vallourec SACA, 7.50%, 04/15/32(b)
|
|
200
|
213,093
|
|
Vedanta Resources Finance II PLC, 10.88%,
09/17/29(b)
|
|
200
|
209,375
|
|
Volcan Cia Minera SAA, 8.75%, 01/24/30(b)
|
|
43
|
44,604
|
|
|
|
|
6,343,895
|
|
Mortgage Real Estate Investment Trusts (REITs)(b) — 0.1%
|
|||
|
Arbor Realty SR, Inc., 7.88%, 07/15/30
|
|
86
|
90,424
|
|
Security
|
|
Par
(000)
|
Value
|
|
Mortgage Real Estate Investment Trusts (REITs) (continued)
|
|||
|
Blackstone Mortgage Trust, Inc., 3.75%, 01/15/27
|
USD
|
149
|
$ 145,463
|
|
Starwood Property Trust, Inc.
|
|
|
|
|
7.25%, 04/01/29
|
|
94
|
98,704
|
|
6.00%, 04/15/30
|
|
48
|
48,730
|
|
6.50%, 07/01/30
|
|
119
|
123,087
|
|
6.50%, 10/15/30
|
|
198
|
204,527
|
|
|
|
|
710,935
|
|
Multi-Utilities — 0.8%
|
|||
|
AmeriGas Partners LP/AmeriGas Finance Corp., 9.50%,
06/01/30(b)
|
|
106
|
110,969
|
|
KeySpan Gas East Corp., 5.82%, 04/01/41(b)
|
|
1,010
|
1,004,665
|
|
NiSource, Inc., 1.70%, 02/15/31
|
|
400
|
347,380
|
|
Piedmont Natural Gas Co., Inc., 5.10%, 02/15/35
|
|
4,450
|
4,526,752
|
|
|
|
|
5,989,766
|
|
Oil, Gas & Consumable Fuels — 4.9%
|
|||
|
Aethon United BR LP/Aethon United Finance Corp.,
7.50%, 10/01/29(b)
|
|
267
|
278,453
|
|
Antero Midstream Partners LP/Antero Midstream
Finance Corp.(b)
|
|
|
|
|
5.38%, 06/15/29
|
|
140
|
139,487
|
|
6.63%, 02/01/32
|
|
76
|
78,275
|
|
Ascent Resources Utica Holdings LLC/ARU Finance
Corp.(b)
|
|
|
|
|
9.00%, 11/01/27
|
|
91
|
109,942
|
|
5.88%, 06/30/29
|
|
6
|
5,988
|
|
6.63%, 07/15/33
|
|
90
|
91,499
|
|
Blue Racer Midstream LLC/Blue Racer Finance Corp.(b)
|
|
|
|
|
7.00%, 07/15/29
|
|
120
|
124,432
|
|
7.25%, 07/15/32
|
|
97
|
102,011
|
|
BP Capital Markets America, Inc., 2.72%, 01/12/32
|
|
620
|
562,235
|
|
Buckeye Partners LP
|
|
|
|
|
6.88%, 07/01/29(b)
|
|
11
|
11,400
|
|
6.75%, 02/01/30(b)
|
|
46
|
47,778
|
|
5.85%, 11/15/43
|
|
94
|
87,670
|
|
5.60%, 10/15/44
|
|
59
|
53,633
|
|
Burlington Resources LLC, 5.95%, 10/15/36
|
|
685
|
736,510
|
|
Caturus Energy LLC, 8.50%, 02/15/30(b)
|
|
383
|
398,767
|
|
Chord Energy Corp., 6.75%, 03/15/33(b)
|
|
58
|
58,765
|
|
CITGO Petroleum Corp., 8.38%, 01/15/29(b)
|
|
322
|
334,620
|
|
Civitas Resources, Inc.(b)
|
|
|
|
|
8.38%, 07/01/28
|
|
56
|
58,047
|
|
8.75%, 07/01/31
|
|
95
|
97,329
|
|
CNX Midstream Partners LP, 4.75%, 04/15/30(b)
|
|
66
|
63,290
|
|
CNX Resources Corp., 7.25%, 03/01/32(b)
|
|
60
|
62,246
|
|
Comstock Resources, Inc.(b)
|
|
|
|
|
6.75%, 03/01/29
|
|
401
|
400,031
|
|
5.88%, 01/15/30
|
|
201
|
193,574
|
|
ConocoPhillips Co., 3.76%, 03/15/42
|
|
600
|
492,387
|
|
CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%,
06/15/31(b)
|
|
500
|
495,352
|
|
Crescent Energy Finance LLC(b)
|
|
|
|
|
7.63%, 04/01/32
|
|
210
|
208,550
|
|
7.38%, 01/15/33
|
|
356
|
346,625
|
|
8.38%, 01/15/34
|
|
202
|
204,666
|
|
Delek Logistics Partners LP/Delek Logistics Finance
Corp., 7.38%, 06/30/33(b)
|
|
219
|
222,700
|
|
Devon Energy Corp., 5.60%, 07/15/41
|
|
300
|
288,801
|
|
Diamond Foreign Asset Co./Diamond Finance LLC,
8.50%, 10/01/30(b)
|
|
89
|
94,312
|
|
Ecopetrol SA, 8.88%, 01/13/33
|
|
175
|
189,849
|
|
Security
|
|
Par
(000)
|
Value
|
|
Oil, Gas & Consumable Fuels (continued)
|
|||
|
eG Global Finance PLC, 12.00%, 11/30/28(b)
|
USD
|
209
|
$ 229,556
|
|
Energy Transfer LP
|
|
|
|
|
6.25%, 04/15/49
|
|
540
|
545,082
|
|
(5-year CMT + 4.02%), 8.00%, 05/15/54(a)
|
|
342
|
365,469
|
|
Series H, (5-year CMT + 5.69%), 6.50%(a)(i)
|
|
4,275
|
4,290,946
|
|
Enterprise Products Operating LLC, 6.13%, 10/15/39
|
|
1,400
|
1,513,557
|
|
EOG Resources, Inc., 5.10%, 01/15/36
|
|
200
|
201,836
|
|
EQT Corp., 4.50%, 01/15/29
|
|
13
|
13,002
|
|
Excelerate Energy LP, 8.00%, 05/15/30(b)
|
|
100
|
106,447
|
|
Genesis Energy LP/Genesis Energy Finance Corp.
|
|
|
|
|
7.75%, 02/01/28
|
|
118
|
118,831
|
|
7.88%, 05/15/32
|
|
109
|
113,682
|
|
8.00%, 05/15/33
|
|
66
|
69,033
|
|
Global Partners LP/GLP Finance Corp., 7.13%,
07/01/33(b)
|
|
66
|
67,649
|
|
Gran Tierra Energy, Inc., 9.50%, 10/15/29(b)
|
|
200
|
168,500
|
|
Greensaif Pipelines Bidco SARL, 5.85%, 02/23/36(b)
|
|
200
|
209,804
|
|
Gulfport Energy Operating Corp., 6.75%, 09/01/29(b)
|
|
99
|
101,593
|
|
Harvest Midstream I LP, 7.50%, 05/15/32(b)
|
|
58
|
59,247
|
|
Hess Corp., 4.30%, 04/01/27
|
|
1,100
|
1,103,632
|
|
Hess Midstream Operations LP(b)
|
|
|
|
|
6.50%, 06/01/29
|
|
150
|
154,700
|
|
4.25%, 02/15/30
|
|
67
|
64,939
|
|
Hilcorp Energy I LP/Hilcorp Finance Co.(b)
|
|
|
|
|
6.25%, 11/01/28
|
|
70
|
70,173
|
|
5.75%, 02/01/29
|
|
94
|
92,599
|
|
6.00%, 04/15/30
|
|
12
|
11,793
|
|
6.25%, 04/15/32
|
|
9
|
8,634
|
|
8.38%, 11/01/33
|
|
269
|
282,525
|
|
6.88%, 05/15/34
|
|
141
|
135,564
|
|
7.25%, 02/15/35
|
|
78
|
76,228
|
|
Howard Midstream Energy Partners LLC(b)
|
|
|
|
|
7.38%, 07/15/32
|
|
27
|
28,027
|
|
6.63%, 01/15/34
|
|
182
|
185,563
|
|
Impulsora Pipeline LLC, 6.05%, 01/01/43
|
|
1,489
|
1,286,608
|
|
ITT Holdings LLC, 6.50%, 08/01/29(b)(f)
|
|
391
|
384,406
|
|
Kinder Morgan, Inc., 5.05%, 02/15/46
|
|
1,400
|
1,268,769
|
|
Kinetik Holdings LP(b)
|
|
|
|
|
6.63%, 12/15/28
|
|
36
|
36,951
|
|
5.88%, 06/15/30
|
|
11
|
11,064
|
|
Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas
Finance Corp., 6.88%, 12/01/32(b)
|
|
78
|
80,045
|
|
Marathon Petroleum Corp., 6.50%, 03/01/41(f)
|
|
1,150
|
1,239,596
|
|
Matador Resources Co.(b)
|
|
|
|
|
6.88%, 04/15/28(f)
|
|
139
|
141,855
|
|
6.50%, 04/15/32
|
|
159
|
160,521
|
|
MC Brazil Downstream Trading SARL, 7.25%,
06/30/31(d)
|
|
182
|
156,353
|
|
MPLX LP
|
|
|
|
|
4.25%, 12/01/27
|
|
250
|
250,243
|
|
4.80%, 02/15/29
|
|
500
|
506,957
|
|
Murphy Oil Corp., 5.88%, 12/01/42
|
|
18
|
15,739
|
|
Nabors Industries, Inc., 7.38%, 05/15/27(b)
|
|
81
|
82,224
|
|
NGL Energy Operating LLC/NGL Energy Finance
Corp.(b)
|
|
|
|
|
8.13%, 02/15/29
|
|
189
|
193,785
|
|
8.38%, 02/15/32
|
|
496
|
508,224
|
|
Noble Finance II LLC, 8.00%, 04/15/30(b)
|
|
105
|
108,681
|
|
Northern Oil & Gas, Inc.(b)
|
|
|
|
|
8.13%, 03/01/28
|
|
478
|
484,749
|
|
10/15/33(g)
|
|
296
|
294,829
|
|
Security
|
|
Par
(000)
|
Value
|
|
Oil, Gas & Consumable Fuels (continued)
|
|||
|
Northriver Midstream Finance LP, 6.75%, 07/15/32(b)
|
USD
|
93
|
$ 95,101
|
|
Parkland Corp., 6.63%, 08/15/32(b)
|
|
101
|
103,784
|
|
PBF Holding Co. LLC/PBF Finance Corp., 7.88%,
09/15/30(b)
|
|
112
|
110,580
|
|
Permian Resources Operating LLC(b)
|
|
|
|
|
8.00%, 04/15/27
|
|
189
|
191,936
|
|
5.88%, 07/01/29
|
|
170
|
170,761
|
|
7.00%, 01/15/32
|
|
144
|
149,348
|
|
6.25%, 02/01/33
|
|
137
|
139,556
|
|
Petrobras Global Finance BV, 6.75%, 01/27/41
|
|
140
|
141,321
|
|
Petroleos Mexicanos
|
|
|
|
|
8.75%, 06/02/29
|
|
165
|
178,219
|
|
5.95%, 01/28/31
|
|
152
|
147,364
|
|
Pluspetrol Camisea SA/Pluspetrol Lote 56 SA, 6.24%,
07/03/36(b)
|
|
50
|
53,370
|
|
Prairie Acquiror LP, 9.00%, 08/01/29(b)
|
|
113
|
117,645
|
|
Raizen Fuels Finance SA, 6.45%, 03/05/34(b)
|
|
200
|
194,000
|
|
Rockies Express Pipeline LLC, 4.95%, 07/15/29(b)
|
|
36
|
35,708
|
|
Sabine Pass Liquefaction LLC, 5.00%, 03/15/27
|
|
1,750
|
1,760,582
|
|
Sunoco LP(b)
|
|
|
|
|
5.63%, 03/15/31
|
|
74
|
73,454
|
|
6.25%, 07/01/33
|
|
134
|
136,391
|
|
5.88%, 03/15/34
|
|
75
|
74,351
|
|
Tallgrass Energy Partners LP/Tallgrass Energy Finance
Corp.(b)
|
|
|
|
|
5.50%, 01/15/28
|
|
95
|
94,517
|
|
7.38%, 02/15/29
|
|
302
|
311,013
|
|
6.00%, 12/31/30
|
|
2
|
1,975
|
|
6.00%, 09/01/31
|
|
67
|
65,554
|
|
TGNR Intermediate Holdings LLC, 5.50%, 10/15/29(b)
|
|
119
|
116,447
|
|
TransCanada PipeLines Ltd., 5.60%, 03/31/34
|
|
500
|
517,261
|
|
TransMontaigne Partners LLC, 8.50%, 06/15/30(b)
|
|
30
|
31,261
|
|
Transocean International Ltd.(b)
|
|
|
|
|
8.00%, 02/01/27(f)
|
|
309
|
308,570
|
|
8.25%, 05/15/29
|
|
75
|
73,940
|
|
8.75%, 02/15/30
|
|
18
|
18,939
|
|
8.50%, 05/15/31
|
|
110
|
107,803
|
|
10/15/32(g)
|
|
117
|
117,000
|
|
Transocean Titan Financing Ltd., 8.38%, 02/01/28(b)
|
|
45
|
45,619
|
|
Valaris Ltd., 8.38%, 04/30/30(b)
|
|
300
|
311,353
|
|
Venture Global LNG, Inc.(b)
|
|
|
|
|
9.50%, 02/01/29
|
|
1,385
|
1,526,305
|
|
7.00%, 01/15/30
|
|
97
|
100,372
|
|
8.38%, 06/01/31(f)
|
|
815
|
855,726
|
|
9.88%, 02/01/32
|
|
803
|
874,245
|
|
Venture Global Plaquemines LNG LLC(b)
|
|
|
|
|
7.50%, 05/01/33
|
|
241
|
266,307
|
|
6.50%, 01/15/34
|
|
530
|
557,908
|
|
7.75%, 05/01/35
|
|
240
|
270,890
|
|
6.75%, 01/15/36
|
|
552
|
586,322
|
|
Vista Energy Argentina SAU, 8.50%, 06/10/33(b)
|
|
76
|
77,444
|
|
Vital Energy, Inc.
|
|
|
|
|
7.75%, 07/31/29(b)
|
|
59
|
58,428
|
|
9.75%, 10/15/30
|
|
165
|
172,270
|
|
7.88%, 04/15/32(b)(f)
|
|
349
|
338,787
|
|
Wildfire Intermediate Holdings LLC, 7.50%, 10/15/29(b)
|
|
133
|
134,380
|
|
|
|
|
36,053,541
|
|
Passenger Airlines — 0.3%
|
|||
|
American Airlines Pass-Through Trust
|
|
|
|
|
Series 2015-2, Class A, 4.00%, 03/22/29
|
|
825
|
803,936
|
|
Series 2015-2, Class AA, 3.60%, 03/22/29
|
|
825
|
808,288
|
|
Security
|
|
Par
(000)
|
Value
|
|
Passenger Airlines (continued)
|
|||
|
American Airlines, Inc., 8.50%, 05/15/29(b)
|
USD
|
225
|
$ 234,709
|
|
American Airlines, Inc./AAdvantage Loyalty IP Ltd.,
5.75%, 04/20/29(b)
|
|
35
|
35,134
|
|
JetBlue Airways Corp./JetBlue Loyalty LP, 9.88%,
09/20/31(b)
|
|
150
|
152,141
|
|
OneSky Flight LLC, 8.88%, 12/15/29(b)
|
|
133
|
139,857
|
|
United Airlines, Inc., 4.63%, 04/15/29(b)(f)
|
|
90
|
88,622
|
|
|
|
|
2,262,687
|
|
Personal Care Products — 0.1%
|
|||
|
Opal Bidco SAS
|
|
|
|
|
5.50%, 03/31/32(d)
|
EUR
|
100
|
121,513
|
|
6.50%, 03/31/32(b)
|
USD
|
400
|
409,898
|
|
Perrigo Finance Unlimited Co., 6.13%, 09/30/32
|
|
127
|
127,851
|
|
|
|
|
659,262
|
|
Pharmaceuticals — 1.6%
|
|||
|
1261229 B.C. Ltd., 10.00%, 04/15/32(b)
|
|
2,000
|
2,050,104
|
|
AbbVie, Inc.
|
|
|
|
|
3.20%, 05/14/26
|
|
500
|
497,698
|
|
4.30%, 05/14/36
|
|
2,670
|
2,566,053
|
|
4.88%, 11/14/48
|
|
2,095
|
1,942,967
|
|
Amneal Pharmaceuticals LLC, 6.88%, 08/01/32(b)
|
|
105
|
108,592
|
|
Bausch Health Cos., Inc.(b)
|
|
|
|
|
4.88%, 06/01/28
|
|
32
|
28,640
|
|
11.00%, 09/30/28
|
|
624
|
648,972
|
|
Becton Dickinson & Co.
|
|
|
|
|
4.30%, 08/22/32
|
|
750
|
738,349
|
|
4.69%, 12/15/44
|
|
600
|
537,337
|
|
Bristol-Myers Squibb Co.
|
|
|
|
|
4.50%, 03/01/44
|
|
350
|
311,553
|
|
4.35%, 11/15/47
|
|
300
|
255,763
|
|
CVS Health Corp., 6.00%, 06/01/44
|
|
700
|
710,159
|
|
Dolcetto Holdco SpA, 5.63%, 07/14/32(d)
|
EUR
|
100
|
120,369
|
|
Grifols SA, 2.25%, 11/15/27(d)
|
|
100
|
115,438
|
|
Nidda Healthcare Holding GmbH, 7.00%, 02/21/30(d)
|
|
100
|
122,390
|
|
Option Care Health, Inc., 4.38%, 10/31/29(b)
|
USD
|
76
|
73,296
|
|
Rossini SARL, (3-mo. EURIBOR + 3.88%), 5.88%,
12/31/29(a)(d)
|
EUR
|
42
|
50,456
|
|
Takeda Pharmaceutical Co. Ltd., 2.05%, 03/31/30
|
USD
|
500
|
454,086
|
|
Teva Pharmaceutical Finance Netherlands III BV
|
|
|
|
|
3.15%, 10/01/26
|
|
163
|
159,740
|
|
6.00%, 12/01/32
|
|
200
|
207,750
|
|
|
|
|
11,699,712
|
|
Real Estate Management & Development — 0.3%
|
|||
|
Adler Financing SARL, Series 1L, (8.25% PIK), 8.25%,
12/31/28(h)
|
EUR
|
25
|
31,271
|
|
Alexandrite Lake Lux Holdings SARL, 6.75%,
07/30/30(d)
|
|
100
|
120,108
|
|
Alpha Star Holding IX Ltd., 7.00%, 08/26/28(d)
|
USD
|
200
|
204,900
|
|
Anywhere Real Estate Group LLC/Anywhere Co-Issuer
Corp.
|
|
|
|
|
7.00%, 04/15/30(b)
|
|
135
|
136,222
|
|
Series AI, 7.00%, 04/15/30
|
|
158
|
159,491
|
|
Anywhere Real Estate Group LLC/Realogy Co-Issuer
Corp., 9.75%, 04/15/30(b)
|
|
183
|
199,714
|
|
Cushman & Wakefield U.S. Borrower LLC, 8.88%,
09/01/31(b)
|
|
213
|
227,340
|
|
Fantasia Holdings Group Co. Ltd.(d)(e)(m)
|
|
|
|
|
11.75%, 04/17/22
|
|
200
|
2,250
|
|
10.88%, 01/09/23
|
|
307
|
5,986
|
|
11.88%, 06/01/23
|
|
400
|
6,000
|
|
9.25%, 07/28/23
|
|
300
|
4,500
|
|
Security
|
|
Par
(000)
|
Value
|
|
Real Estate Management & Development (continued)
|
|||
|
Five Point Operating Co. LP, 8.00%, 10/01/30(b)
|
USD
|
50
|
$ 50,738
|
|
i-595 Express LLC, 3.31%, 12/31/31
|
|
574
|
550,033
|
|
Vivion Investments SARL, (6.50% PIK), 6.50%,
08/31/28(d)(h)
|
EUR
|
101
|
118,886
|
|
|
|
|
1,817,439
|
|
Retail REITs — 0.3%
|
|||
|
Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR
Nimbus LLC/GGSI Sellco LLC, 4.50%, 04/01/27(b)
|
USD
|
109
|
107,055
|
|
Simon Property Group LP, 6.75%, 02/01/40
|
|
1,670
|
1,923,889
|
|
|
|
|
2,030,944
|
|
Semiconductors & Semiconductor Equipment — 1.2%
|
|||
|
Amkor Technology, Inc., 5.88%, 10/01/33(b)
|
|
46
|
46,468
|
|
Broadcom, Inc.
|
|
|
|
|
4.75%, 04/15/29
|
|
2,500
|
2,550,791
|
|
4.15%, 04/15/32(b)
|
|
1,500
|
1,470,998
|
|
3.47%, 04/15/34(b)
|
|
700
|
638,821
|
|
3.50%, 02/15/41(b)
|
|
700
|
576,049
|
|
Intel Corp.
|
|
|
|
|
5.13%, 02/10/30
|
|
750
|
771,794
|
|
2.00%, 08/12/31(f)
|
|
1,000
|
874,736
|
|
KLA Corp., 5.00%, 03/15/49
|
|
500
|
473,496
|
|
QUALCOMM, Inc.
|
|
|
|
|
4.25%, 05/20/32
|
|
445
|
445,136
|
|
5.40%, 05/20/33
|
|
250
|
265,639
|
|
4.30%, 05/20/47
|
|
700
|
599,691
|
|
|
|
|
8,713,619
|
|
Software — 2.1%
|
|||
|
AthenaHealth Group, Inc., 6.50%, 02/15/30(b)(f)
|
|
1,917
|
1,901,315
|
|
Camelot Finance SA, 4.50%, 11/01/26(b)
|
|
35
|
34,880
|
|
Capstone Borrower, Inc., 8.00%, 06/15/30(b)
|
|
561
|
586,689
|
|
Central Parent LLC/CDK Global II LLC/CDK Financing
Co., Inc., 8.00%, 06/15/29(b)
|
|
127
|
111,919
|
|
Central Parent, Inc./CDK Global, Inc., 7.25%,
06/15/29(b)
|
|
95
|
81,800
|
|
Cloud Software Group, Inc.(b)
|
|
|
|
|
6.50%, 03/31/29
|
|
1,461
|
1,474,179
|
|
9.00%, 09/30/29(f)
|
|
2,205
|
2,287,040
|
|
8.25%, 06/30/32
|
|
759
|
805,112
|
|
CoreLogic, Inc., 4.50%, 05/01/28(b)
|
|
592
|
574,004
|
|
CoreWeave, Inc., 9.25%, 06/01/30(b)
|
|
233
|
240,641
|
|
Electronic Arts, Inc., 2.95%, 02/15/51
|
|
93
|
80,653
|
|
Ellucian Holdings, Inc., 6.50%, 12/01/29(b)
|
|
172
|
174,738
|
|
Microsoft Corp., 2.53%, 06/01/50
|
|
1,600
|
1,012,915
|
|
Oracle Corp.
|
|
|
|
|
3.60%, 04/01/40
|
|
3,025
|
2,429,502
|
|
3.60%, 04/01/50
|
|
400
|
281,584
|
|
3.95%, 03/25/51
|
|
600
|
446,105
|
|
6.13%, 08/03/65
|
|
600
|
602,321
|
|
Playtika Holding Corp., 4.25%, 03/15/29(b)
|
|
7
|
6,426
|
|
SS&C Technologies, Inc., 6.50%, 06/01/32(b)
|
|
290
|
299,813
|
|
Twilio, Inc.
|
|
|
|
|
3.63%, 03/15/29
|
|
73
|
69,563
|
|
3.88%, 03/15/31
|
|
73
|
68,640
|
|
UKG, Inc., 6.88%, 02/01/31(b)
|
|
1,419
|
1,464,174
|
|
ZoomInfo Technologies LLC/ZoomInfo Finance Corp.,
3.88%, 02/01/29(b)
|
|
147
|
139,329
|
|
|
|
|
15,173,342
|
|
Security
|
|
Par
(000)
|
Value
|
|
Specialty Retail(b) — 0.0%
|
|||
|
Advance Auto Parts, Inc., 7.00%, 08/01/30
|
USD
|
101
|
$ 103,914
|
|
Staples, Inc., 10.75%, 09/01/29
|
|
103
|
101,843
|
|
|
|
|
205,757
|
|
Technology Hardware, Storage & Peripherals — 0.3%
|
|||
|
Apple, Inc.
|
|
|
|
|
4.38%, 05/13/45
|
|
1,000
|
904,600
|
|
3.75%, 09/12/47
|
|
700
|
562,901
|
|
Seagate Data Storage Technology Pte Ltd.(b)
|
|
|
|
|
8.25%, 12/15/29
|
|
174
|
184,197
|
|
5.88%, 07/15/30
|
|
132
|
134,299
|
|
8.50%, 07/15/31
|
|
111
|
117,511
|
|
|
|
|
1,903,508
|
|
Textiles, Apparel & Luxury Goods — 0.2%
|
|||
|
Beach Acquisition Bidco LLC(b)
|
|
|
|
|
5.25%, 07/15/32
|
EUR
|
270
|
324,945
|
|
(10.00% PIK), 10.00%, 07/15/33(h)
|
USD
|
653
|
704,366
|
|
Hanesbrands, Inc., 9.00%, 02/15/31(b)
|
|
8
|
8,467
|
|
Levi Strauss & Co.(b)
|
|
|
|
|
4.00%, 08/15/30
|
EUR
|
100
|
119,134
|
|
3.50%, 03/01/31
|
USD
|
11
|
10,213
|
|
PrestigeBidCo GmbH, (3-mo. EURIBOR + 3.75%),
5.78%, 07/01/29(a)(d)
|
EUR
|
100
|
118,071
|
|
|
|
|
1,285,196
|
|
Tobacco — 0.9%
|
|||
|
Altria Group, Inc.
|
|
|
|
|
2.45%, 02/04/32
|
USD
|
200
|
176,054
|
|
5.38%, 01/31/44(f)
|
|
2,000
|
1,966,981
|
|
BAT Capital Corp.
|
|
|
|
|
3.22%, 09/06/26
|
|
394
|
390,965
|
|
7.08%, 08/02/43
|
|
500
|
565,841
|
|
4.54%, 08/15/47
|
|
1,500
|
1,257,809
|
|
Philip Morris International, Inc., 5.38%, 02/15/33
|
|
1,000
|
1,044,315
|
|
Reynolds American, Inc., 7.00%, 08/04/41
|
|
1,000
|
1,081,698
|
|
|
|
|
6,483,663
|
|
Transportation Infrastructure — 0.1%
|
|||
|
FedEx Corp., 4.10%, 02/01/45
|
|
1,250
|
978,431
|
|
Water Utilities — 0.2%
|
|||
|
American Water Capital Corp., 4.45%, 06/01/32
|
|
1,350
|
1,347,265
|
|
Wireless Telecommunication Services — 1.3%
|
|||
|
Altice France SA(b)
|
|
|
|
|
5.13%, 07/15/29
|
|
600
|
512,400
|
|
5.50%, 10/15/29
|
|
400
|
345,975
|
|
Digicel International Finance Ltd./Difl U.S. LLC, 8.63%,
08/01/32(b)
|
|
645
|
661,738
|
|
Liberty Costa Rica Senior Secured Finance, 10.88%,
01/15/31(b)
|
|
200
|
213,200
|
|
Rogers Communications, Inc., 7.50%, 08/15/38
|
|
2,325
|
2,713,130
|
|
Telecom Argentina SA, 9.25%, 05/28/33(b)
|
|
42
|
41,624
|
|
T-Mobile USA, Inc.
|
|
|
|
|
3.88%, 04/15/30
|
|
2,000
|
1,961,177
|
|
2.55%, 02/15/31
|
|
500
|
454,310
|
|
3.30%, 02/15/51
|
|
500
|
340,791
|
|
5.80%, 09/15/62
|
|
500
|
502,928
|
|
Turkcell Iletisim Hizmetleri A/S, 7.65%, 01/24/32(b)
|
|
200
|
209,000
|
|
Veon Midco BV, 3.38%, 11/25/27(b)
|
|
200
|
187,375
|
|
Vmed O2 U.K. Financing I PLC
|
|
|
|
|
4.25%, 01/31/31(b)
|
|
600
|
556,299
|
|
4.50%, 07/15/31(d)
|
GBP
|
100
|
123,045
|
|
Vodafone Group PLC, 4.88%, 06/19/49
|
USD
|
700
|
621,115
|
|
Security
|
|
Par
(000)
|
Value
|
|
Wireless Telecommunication Services (continued)
|
|||
|
WOM Mobile SA, (11.00% PIK), 11.00%, 04/01/31(b)(h)
|
USD
|
10
|
$ 9,398
|
|
Zegona Finance PLC, 6.75%, 07/15/29(d)
|
EUR
|
90
|
111,864
|
|
|
|
|
9,565,369
|
|
Total Corporate Bonds — 61.1%
(Cost: $442,236,621)
|
446,570,434
|
||
|
Fixed Rate Loan Interests
|
|||
|
Diversified Consumer Services — 0.0%
|
|||
|
Clover Holdings SPV III LLC, 2024 USD Term Loan,
15.00%, 12/09/27
|
USD
|
16
|
16,185
|
|
IT Services — 0.2%
|
|||
|
Clover Holdings 2 LLC, Fixed Term Loan B, 7.75%,
12/09/31
|
|
959
|
964,997
|
|
Software — 0.2%
|
|||
|
Cotiviti, Inc., 2024 Fixed Term Loan B, 7.63%, 05/01/31
|
|
1,556
|
1,560,142
|
|
Total Fixed Rate Loan Interests — 0.4%
(Cost: $2,530,573)
|
2,541,324
|
||
|
Floating Rate Loan Interests(a)
|
|||
|
Advertising Agencies — 0.1%
|
|||
|
Clear Channel Outdoor Holdings, Inc., 2024 Term Loan,
(1-mo. CME Term SOFR at 0.00% Floor + 4.11%),
8.28%, 08/23/28
|
|
293
|
293,591
|
|
Neptune Bidco U.S., Inc., 2022 USD Term Loan B, (3-
mo. CME Term SOFR + 5.10%), 9.43%, 04/11/29
|
|
208
|
197,478
|
|
Summer BC Holdco B SARL, 2024 USD Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 5.26%),
9.26%, 02/15/29
|
|
44
|
43,004
|
|
|
|
|
534,073
|
|
Aerospace & Defense — 0.1%
|
|||
|
Kaman Corp.
|
|
|
|
|
2025 Delayed Draw Term Loan, (3-mo. CME Term
SOFR at 0.50% Floor + 2.50%), 6.83%, 02/26/32
|
|
1
|
883
|
|
2025 Term Loan B, (6-mo. CME Term SOFR at
0.50% Floor + 2.75%), 6.94%, 02/26/32
|
|
39
|
38,920
|
|
Signia Aerospace LLC, 2025 Term Loan, (1-mo. CME
Term SOFR at 0.50% Floor + 2.75%), 6.91%,
12/11/31
|
|
79
|
78,821
|
|
TransDigm, Inc., 2025 Term Loan M, (1-mo. CME Term
SOFR at 0.00% Floor + 2.50%), 6.66%, 08/19/32
|
|
254
|
253,675
|
|
|
|
|
372,299
|
|
Automobile Components — 0.1%
|
|||
|
Clarios Global LP, 2025 USD Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.75%), 6.91%,
01/28/32
|
|
182
|
181,948
|
|
Tenneco, Inc.
|
|
|
|
|
2022 Term Loan A, (3-mo. CME Term SOFR at 0.50%
Floor + 4.85%), 9.05%, 11/17/28
|
|
15
|
14,792
|
|
2022 Term Loan B, (3-mo. CME Term SOFR +
5.10%), 9.30%, 11/17/28
|
|
92
|
89,889
|
|
|
|
|
286,629
|
|
Security
|
|
Par
(000)
|
Value
|
|
Beverages — 0.0%
|
|||
|
Sazerac Co., Inc., Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 2.50%), 6.70%, 07/09/32
|
USD
|
72
|
$ 72,400
|
|
Building Products — 0.1%
|
|||
|
Chariot Buyer LLC, 2025 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 3.00%), 7.16%,
09/08/32
|
|
26
|
25,655
|
|
CP Atlas Buyer, Inc., 2025 Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 5.25%), 9.41%, 07/08/30
|
|
58
|
56,695
|
|
Foundation Building Materials, Inc.
|
|
|
|
|
2021 Term Loan, (3-mo. CME Term SOFR at 0.50%
Floor + 3.51%), 7.82%, 01/31/28
|
|
78
|
77,801
|
|
2024 Term Loan B2, (3-mo. CME Term SOFR at
0.00% Floor + 4.00%), 8.31%, 01/29/31
|
|
276
|
276,403
|
|
2025 Term Loan, (Prime + 4.25%), 11.50%, 01/29/31
|
|
44
|
44,263
|
|
White Cap Supply Holdings LLC, 2024 Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 3.25%),
7.42%, 10/19/29
|
|
280
|
280,515
|
|
Wilsonart LLC, 2024 Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 4.25%), 8.25%, 08/05/31
|
|
81
|
78,261
|
|
|
|
|
839,593
|
|
Capital Markets — 0.1%
|
|||
|
Acuren Delaware Holdco, Inc., 2025 Term Loan, (1-mo.
CME Term SOFR at 0.00% Floor + 2.75%), 6.91%,
07/30/31
|
|
27
|
26,952
|
|
Gryphon Acquire NewCo LLC, Term Loan B, (6-mo.
CME Term SOFR at 0.00% Floor + 3.00%), 6.88%,
09/13/32
|
|
155
|
155,340
|
|
Osaic Holdings, Inc., 2025 Term Loan, (1-mo. CME
Term SOFR at 0.00% Floor + 3.00%), 7.16%,
07/30/32
|
|
160
|
159,620
|
|
Summit Acquisition, Inc., 2025 Add-on Term Loan, (1-
mo. CME Term SOFR at 0.00% Floor + 3.50%),
7.66%, 10/16/31
|
|
76
|
76,069
|
|
|
|
|
417,981
|
|
Chemicals — 0.1%
|
|||
|
Aruba Investments Holdings LLC, 2020 2nd Lien Term
Loan, (1-mo. CME Term SOFR + 7.85%), 12.01%,
11/24/28
|
|
64
|
58,346
|
|
Discovery Purchaser Corp., Term Loan, (3-mo. CME
Term SOFR at 0.50% Floor + 3.75%), 8.08%,
10/04/29
|
|
253
|
251,989
|
|
Lonza Group AG, USD Term Loan B, (3-mo. CME Term
SOFR at 0.75% Floor + 4.03%), 8.03%, 07/03/28
|
|
183
|
164,365
|
|
Momentive Performance Materials, Inc., 2023 Term
Loan, (1-mo. CME Term SOFR + 4.00%), 8.16%,
03/29/28
|
|
51
|
51,280
|
|
Olympus Water U.S. Holding Corp., 2025 USD Term
Loan B, 07/23/32(n)
|
|
123
|
121,990
|
|
Oxea Holding Drei GmbH, 2017 USD Term Loan B2,
04/08/31(n)
|
|
18
|
16,239
|
|
Qnity Electronics, Inc., Term Loan B, 08/12/32(n)
|
|
181
|
180,774
|
|
WR Grace Holdings LLC, 2025 Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 3.00%), 7.00%,
08/19/32
|
|
85
|
85,142
|
|
|
|
|
930,125
|
|
Security
|
|
Par
(000)
|
Value
|
|
Commercial Services & Supplies — 0.1%
|
|||
|
AlixPartners LLP, 2025 USD Term Loan, (1-mo. CME
Term SOFR at 0.00% Floor + 2.00%), 6.16%,
08/12/32
|
USD
|
70
|
$ 69,495
|
|
Allied Universal Holdco LLC, 2025 USD Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 3.35%),
7.51%, 08/20/32
|
|
270
|
270,747
|
|
Champions Financing, Inc., 2024 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 4.75%), 8.95%,
02/23/29
|
|
208
|
194,819
|
|
Galaxy U.S. Opco, Inc., Term Loan, (3-mo. CME Term
SOFR + 2.00%, 3.75% PIK), 10.06%, 07/31/30(h)
|
|
138
|
124,835
|
|
Vortex Opco LLC, Second Out Term Loan, (3-mo. CME
Term SOFR at 0.50% Floor + 4.36%), 8.37%,
12/17/28
|
|
60
|
13,263
|
|
Wand NewCo 3, Inc., 2025 Repriced Term Loan B, (1-
mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.66%, 01/30/31
|
|
180
|
178,968
|
|
|
|
|
852,127
|
|
Communications Equipment — 0.0%
|
|||
|
COMMSCOPE, 2024 Term Loan, (1-mo. CME Term
SOFR at 2.00% Floor + 4.75%), 8.91%, 12/17/29
|
|
137
|
139,032
|
|
Construction & Engineering — 0.1%
|
|||
|
Brand Industrial Services, Inc., 2024 Term Loan B, (3-
mo. CME Term SOFR at 0.50% Floor + 4.50%),
8.80%, 08/01/30
|
|
568
|
513,887
|
|
Consumer Discretionary — 0.0%
|
|||
|
Camelot U.S. Acquisition LLC, 2025 Incremental Term
Loan B, (1-mo. CME Term SOFR at 0.00% Floor +
3.25%), 7.41%, 01/31/31
|
|
143
|
142,687
|
|
Jupiter Buyer, Inc., 2024 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 4.25%), 8.25%,
11/01/31
|
|
38
|
38,075
|
|
|
|
|
180,762
|
|
Consumer Staples Distribution & Retail — 0.1%
|
|||
|
Boots Group Finco LP, USD Term Loan, (3-mo. CME
Term SOFR at 0.00% Floor + 3.50%), 7.70%,
08/30/32
|
|
477
|
477,992
|
|
Containers & Packaging — 0.0%
|
|||
|
LABL, Inc., 2021 USD 1st Lien Term Loan, (1-mo. CME
Term SOFR at 0.50% Floor + 5.10%), 9.26%,
10/30/28
|
|
142
|
115,685
|
|
Diversified Telecommunication Services — 0.1%
|
|||
|
Delta Topco, Inc., 2024 2nd Lien Term Loan, (1-mo.
CME Term SOFR at 0.00% Floor + 5.25%), 9.43%,
11/29/30
|
|
32
|
31,810
|
|
Frontier Communications Holdings LLC, 2025 Term
Loan B, (1-mo. CME Term SOFR at 0.00% Floor +
2.50%), 6.65%, 07/01/31
|
|
41
|
40,625
|
|
Lumen Technologies, Inc.
|
|
|
|
|
2024 Extended Term Loan B1, (1-mo. CME Term
SOFR at 2.00% Floor + 2.46%), 6.63%, 04/16/29
|
|
143
|
141,653
|
|
2024 Term Loan A, (1-mo. CME Term SOFR +
6.00%), 10.16%, 06/01/28
|
|
42
|
43,033
|
|
Security
|
|
Par
(000)
|
Value
|
|
Diversified Telecommunication Services (continued)
|
|||
|
Windstream Services LLC, 2024 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 4.85%), 9.01%,
10/01/31(c)
|
USD
|
65
|
$ 64,838
|
|
Zayo Group Holdings, Inc., 1st Lien Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 3.50%), 7.61%,
03/11/30
|
|
624
|
605,121
|
|
|
|
|
927,080
|
|
Electronic Equipment, Instruments & Components — 0.0%
|
|||
|
Lsf12 Crown U.S. Commercial Bidco LLC, 2025 Term
Loan B, (1-mo. CME Term SOFR at 0.00% Floor +
3.50%), 7.66%, 12/02/31
|
|
168
|
167,793
|
|
Pinnacle Buyer LLC(n)
|
|
|
|
|
Delayed Draw Term Loan, 09/10/32
|
|
13
|
13,605
|
|
Term Loan, 09/10/32
|
|
71
|
70,742
|
|
|
|
|
252,140
|
|
Energy Equipment & Services — 0.0%
|
|||
|
Star Holding LLC, 2024 1st Lien Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 4.50%), 8.66%,
07/31/31
|
|
41
|
40,555
|
|
Financial Services(n) — 0.0%
|
|||
|
ION Platform Finance U.S., Inc., USD Term Loan,
09/30/32(c)
|
|
180
|
178,425
|
|
Orion U.S. Finco, Inc., 1st Lien Term Loan, 05/20/32
|
|
45
|
45,225
|
|
|
|
|
223,650
|
|
Food Products — 0.0%
|
|||
|
Chobani LLC, 2025 Repriced Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.50%), 6.66%,
10/25/27
|
|
7
|
6,963
|
|
Health Care Equipment & Supplies — 0.1%
|
|||
|
Bausch & Lomb Corp.
|
|
|
|
|
2023 Incremental Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 4.00%), 8.17%, 09/29/28
|
|
126
|
126,262
|
|
2025 Term Loan B, (1-mo. CME Term SOFR at
0.00% Floor + 4.25%), 8.41%, 01/15/31
|
|
242
|
241,885
|
|
|
|
|
368,147
|
|
Health Care Providers & Services — 0.1%
|
|||
|
LifePoint Health, Inc.
|
|
|
|
|
2024 1st Lien Term Loan B, (3-mo. CME Term SOFR
at 0.00% Floor + 3.75%), 8.07%, 05/19/31
|
|
163
|
162,678
|
|
2024 Incremental Term Loan B1, (3-mo. CME Term
SOFR at 0.00% Floor + 3.50%), 7.66%, 05/19/31
|
|
83
|
82,143
|
|
Quorum Health Corp., 2020 Term Loan, (3-mo. CME
Term SOFR at 1.00% Floor + 6.60%), 10.60%,
01/28/28
|
|
130
|
93,194
|
|
Star Parent, Inc., Term Loan B, (3-mo. CME Term SOFR
at 0.00% Floor + 4.00%), 8.00%, 09/27/30
|
|
352
|
352,086
|
|
|
|
|
690,101
|
|
Hotels, Restaurants & Leisure — 0.0%
|
|||
|
EOC Borrower LLC, Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 3.00%), 7.16%, 03/24/32
|
|
80
|
79,687
|
|
Great Canadian Gaming Corp., 2024 Term Loan B, (3-
mo. CME Term SOFR at 0.00% Floor + 4.75%),
8.75%, 11/01/29
|
|
57
|
54,970
|
|
Sabre GLBL, Inc.
|
|
|
|
|
2021 Term Loan B1, (1-mo. CME Term SOFR at
0.50% Floor + 3.61%), 7.78%, 12/17/27
|
|
19
|
17,907
|
|
2021 Term Loan B2, (1-mo. CME Term SOFR at
0.50% Floor + 3.61%), 7.78%, 12/17/27
|
|
6
|
5,896
|
|
Security
|
|
Par
(000)
|
Value
|
|
Hotels, Restaurants & Leisure (continued)
|
|||
|
Sabre GLBL, Inc. (continued)
|
|
|
|
|
2022 Term Loan B, (1-mo. CME Term SOFR +
4.35%), 8.51%, 06/30/28
|
USD
|
2
|
$ 1,686
|
|
2024 Term Loan B1, (1-mo. CME Term SOFR at
0.50% Floor + 6.10%), 10.26%, 11/15/29(c)
|
|
45
|
42,288
|
|
2024 Term Loan B2, (1-mo. CME Term SOFR at
0.50% Floor + 6.10%), 10.26%, 11/15/29(c)
|
|
26
|
24,819
|
|
|
|
|
227,253
|
|
Household Durables — 0.0%
|
|||
|
Hunter Douglas, Inc., 2025 USD Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 3.25%), 7.25%,
01/20/32
|
|
61
|
60,707
|
|
Springs Windows Fashions LLC, 2024 FLFO A1 Term
Loan, (1-mo. CME Term SOFR at 1.00% Floor +
4.50%), 8.66%, 12/19/29
|
|
27
|
27,481
|
|
|
|
|
88,188
|
|
Insurance — 0.1%
|
|||
|
Ardonagh Group Finco Pty. Ltd., 2024 USD Term Loan
B, (3-mo. CME Term SOFR at 0.00% Floor + 2.75%),
6.94%, 02/15/31
|
|
91
|
90,044
|
|
Asurion LLC, 2025 Term Loan B13, (1-mo. CME Term
SOFR at 0.00% Floor + 4.25%), 8.41%, 09/19/30
|
|
88
|
87,775
|
|
Howden Group Holdings Ltd., 2024 USD Term Loan B,
(1-mo. CME Term SOFR at 0.50% Floor + 3.50%),
7.66%, 04/18/30
|
|
17
|
16,897
|
|
OneDigital Borrower LLC, 2025 Repriced Term Loan,
(1-mo. CME Term SOFR at 0.50% Floor + 3.00%),
7.16%, 07/02/31
|
|
22
|
21,918
|
|
Truist Insurance Holdings LLC, 2nd Lien Term Loan,
(3-mo. CME Term SOFR at 0.00% Floor + 4.75%),
8.75%, 05/06/32
|
|
410
|
416,988
|
|
|
|
|
633,622
|
|
Interactive Media & Services — 0.0%
|
|||
|
MH Sub I LLC, 2023 Term Loan, (3-mo. CME Term
SOFR at 0.50% Floor + 4.25%), 8.25%, 05/03/28
|
|
176
|
169,298
|
|
Internet Software & Services — 0.0%
|
|||
|
Proofpoint, Inc., 2025 Fungible Term Loan, 08/31/28(n)
|
|
28
|
28,073
|
|
StubHub Holdco Sub LLC, 2024 Extended Term Loan B,
(1-mo. CME Term SOFR + 4.75%), 8.91%, 03/15/30
|
|
192
|
189,794
|
|
|
|
|
217,867
|
|
IT Services — 0.1%
|
|||
|
Amentum Holdings, Inc., 2024 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.25%), 6.41%,
09/29/31
|
|
14
|
14,087
|
|
Finastra USA, Inc.
|
|
|
|
|
2025 1st Lien Term Loan, (3-mo. CME Term SOFR at
0.00% Floor + 4.00%), 8.04%, 07/30/32
|
|
444
|
441,940
|
|
2025 2nd Lien Term Loan, (3-mo. CME Term SOFR
at 0.00% Floor + 7.00%), 11.04%, 09/15/33
|
|
96
|
95,328
|
|
Fortress Intermediate 3, Inc., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 3.00%), 7.25%,
06/27/31
|
|
61
|
61,403
|
|
|
|
|
612,758
|
|
Security
|
|
Par
(000)
|
Value
|
|
Leisure Products — 0.0%
|
|||
|
City Football Group Ltd., 2024 Term Loan, (1-mo. CME
Term SOFR at 0.50% Floor + 3.61%), 7.70%,
07/22/30
|
USD
|
98
|
$ 98,372
|
|
Machinery — 0.1%
|
|||
|
GrafTech Global Enterprises, Inc., 2024 Term Loan,
(1-mo. CME Term SOFR at 2.00% Floor + 6.00%),
10.16%, 12/21/29
|
|
59
|
60,329
|
|
Husky Injection Molding Systems Ltd., 2024 Term Loan
B, (1-mo. CME Term SOFR at 0.00% Floor + 3.75%),
7.75%, 02/15/29
|
|
476
|
476,505
|
|
|
|
|
536,834
|
|
Media — 0.2%
|
|||
|
Coral-U.S. Co-Borrower LLC, 2025 Term Loan B7, (3-
mo. CME Term SOFR at 0.00% Floor + 3.25%),
7.57%, 01/31/32
|
|
74
|
73,670
|
|
CSC Holdings LLC
|
|
|
|
|
2019 Term Loan B5, (Prime + 1.50%), 8.75%,
04/15/27
|
|
321
|
309,924
|
|
2022 Term Loan B6, (1-mo. CME Term SOFR at
0.00% Floor + 4.50%), 8.65%, 01/18/28
|
|
258
|
255,956
|
|
Directv Financing LLC, 2025 Term Loan B, (3-mo. CME
Term SOFR at 0.75% Floor + 5.50%), 9.81%,
02/17/31
|
|
386
|
376,676
|
|
Gray Television, Inc.
|
|
|
|
|
2021 Term Loan D, (1-mo. CME Term SOFR +
3.11%), 7.39%, 12/01/28
|
|
64
|
63,654
|
|
2024 Term Loan B, (1-mo. CME Term SOFR +
5.25%), 9.53%, 06/04/29
|
|
—
(o)
|
551
|
|
OVG Business Services LLC, 2024 Term Loan B, (1-mo.
CME Term SOFR + 3.00%), 7.16%, 06/25/31
|
|
7
|
6,649
|
|
Radiate Holdco LLC, 2025 FLFO Term Loan, (1-mo.
CME Term SOFR at 0.00% Floor + 3.61%, 1.50%
PIK), 9.28%, 09/25/29(h)
|
|
343
|
276,376
|
|
|
|
|
1,363,456
|
|
Oil, Gas & Consumable Fuels — 0.0%
|
|||
|
Stakeholder Midstream LLC, Term Loan, (3-mo. CME
Term SOFR at 0.00% Floor + 4.00%), 8.04%,
01/01/31
|
|
145
|
144,818
|
|
Personal Care Products — 0.0%
|
|||
|
ACP Tara Holdings, Inc., 2025 Term Loan B,
09/17/32(c)(n)
|
|
53
|
53,000
|
|
Pharmaceuticals — 0.1%
|
|||
|
Amneal Pharmaceuticals LLC, 2025 Term Loan B, (1-
mo. CME Term SOFR at 0.50% Floor + 3.50%),
7.66%, 08/01/32
|
|
223
|
222,628
|
|
Endo Finance Holdings, Inc., 2024 1st Lien Term Loan,
(1-mo. CME Term SOFR at 0.50% Floor + 4.00%),
8.16%, 04/23/31
|
|
93
|
92,417
|
|
Gainwell Acquisition Corp., Term Loan B, (3-mo. CME
Term SOFR at 0.75% Floor + 4.10%), 8.10%,
10/01/27
|
|
279
|
274,459
|
|
|
|
|
589,504
|
|
Real Estate Management & Development — 0.0%
|
|||
|
CoreLogic, Inc., Term Loan, (1-mo. CME Term SOFR at
0.50% Floor + 3.61%), 7.78%, 06/02/28
|
|
84
|
83,739
|
|
Security
|
|
Par
(000)
|
Value
|
|
Software — 0.3%
|
|||
|
Applied Systems, Inc., 2024 2nd Lien Term Loan, (3-mo.
CME Term SOFR at 0.00% Floor + 4.50%), 8.50%,
02/23/32
|
USD
|
98
|
$ 99,801
|
|
Ascend Learning LLC, 2025 Repriced Term Loan B,
(1-mo. CME Term SOFR at 0.50% Floor + 3.00%),
7.16%, 12/11/28
|
|
21
|
20,876
|
|
AthenaHealth Group, Inc., 2022 Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 2.75%), 6.91%,
02/15/29
|
|
376
|
375,313
|
|
Boxer Parent Co., Inc.
|
|
|
|
|
2024 2nd Lien Term Loan, (3-mo. CME Term SOFR
at 0.00% Floor + 5.75%), 9.95%, 07/30/32
|
|
115
|
111,837
|
|
2025 USD Term Loan B, (3-mo. CME Term SOFR at
0.00% Floor + 3.00%), 7.20%, 07/30/31
|
|
169
|
168,924
|
|
Central Parent LLC, 2024 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 3.25%), 7.25%,
07/06/29
|
|
55
|
47,593
|
|
Cloud Software Group, Inc.
|
|
|
|
|
2025 Term Loan B (2031), (3-mo. CME Term SOFR
at 0.00% Floor + 3.25%), 7.25%, 03/21/31
|
|
286
|
287,498
|
|
2025 Term Loan B (2032), (3-mo. CME Term SOFR
at 0.00% Floor + 3.25%), 7.25%, 08/13/32
|
|
87
|
87,031
|
|
Cloudera, Inc., 2021 Second Lien Term Loan, (1-mo.
CME Term SOFR at 0.50% Floor + 6.10%), 10.26%,
10/08/29
|
|
168
|
152,553
|
|
Ellucian Holdings, Inc.
|
|
|
|
|
2024 1st Lien Term Loan B, (1-mo. CME Term SOFR
at 0.50% Floor + 2.75%), 6.91%, 10/09/29
|
|
25
|
24,922
|
|
2024 2nd Lien Term Loan, (1-mo. CME Term SOFR
at 0.50% Floor + 4.75%), 8.91%, 11/22/32
|
|
363
|
370,561
|
|
Mitchell International, Inc., 2024 1st Lien Term Loan,
(1-mo. CME Term SOFR at 0.50% Floor + 3.25%),
7.41%, 06/17/31
|
|
97
|
96,569
|
|
RealPage, Inc.
|
|
|
|
|
1st Lien Term Loan, (3-mo. CME Term SOFR +
3.26%), 7.26%, 04/24/28
|
|
211
|
210,617
|
|
2024 Incremental Term Loan, (3-mo. CME Term
SOFR at 0.50% Floor + 3.75%), 7.75%, 04/24/28
|
|
84
|
83,789
|
|
|
|
|
2,137,884
|
|
Technology Hardware, Storage & Peripherals — 0.0%
|
|||
|
Cubic Corp.
|
|
|
|
|
2025 Second Out Term Loan B, (3-mo. CME Term
SOFR at 0.75% Floor + 4.51%), 8.83%, 05/25/29
|
|
86
|
48,639
|
|
2025 Second Out Term Loan C, (3-mo. CME Term
SOFR at 0.75% Floor + 4.51%), 8.57%, 05/25/29
|
|
10
|
5,779
|
|
|
|
|
54,418
|
|
Textiles, Apparel & Luxury Goods — 0.0%
|
|||
|
Beach Acquisition Bidco LLC, USD Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 3.25%), 7.31%,
09/12/32
|
|
67
|
67,279
|
|
Wireless Telecommunication Services — 0.2%
|
|||
|
Altice France SA, 2023 USD Term Loan B14, (3-mo.
CME Term SOFR at 0.00% Floor + 5.50%), 9.82%,
08/15/28(c)
|
|
252
|
243,491
|
|
Security
|
|
Par
(000)
|
Value
|
|
Wireless Telecommunication Services (continued)
|
|||
|
Digicel International Finance Ltd., 2025 Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 5.25%),
9.49%, 08/06/32
|
USD
|
168
|
$ 167,790
|
|
Level 3 Financing, Inc., 2025 Repriced Term Loan B4,
(1-mo. CME Term SOFR at 0.00% Floor + 3.25%),
7.42%, 03/29/32
|
|
616
|
616,000
|
|
Windstream Services, LLC, 2025 Term Loan B,
09/24/32(c)(n)
|
|
126
|
124,740
|
|
|
|
|
1,152,021
|
|
Total Floating Rate Loan Interests — 2.3%
(Cost: $16,579,494)
|
16,471,532
|
||
|
Foreign Agency Obligations
|
|||
|
Barbados — 0.0%
|
|
||
|
Barbados Government International Bonds, 8.00%,
06/26/35(b)
|
|
103
|
107,274
|
|
Benin — 0.0%
|
|
||
|
Benin Government International Bonds, 7.96%,
02/13/38(b)
|
|
200
|
204,282
|
|
Bulgaria — 0.0%
|
|
||
|
Bulgaria Government International Bonds, 5.00%,
03/05/37(d)
|
|
92
|
92,092
|
|
Canada — 0.9%
|
|
||
|
CDP Financial, Inc., 5.60%, 11/25/39(b)(f)
|
|
5,890
|
6,334,845
|
|
Cayman Islands — 0.0%
|
|
||
|
Kyrgyz Republic International Bonds, 7.75%,
06/03/30(b)
|
|
200
|
201,250
|
|
Chile — 0.0%
|
|
||
|
Chile Government International Bonds, 4.34%,
03/07/42
|
|
200
|
177,000
|
|
Colombia — 0.0%
|
|
||
|
Colombia Government International Bonds, 8.00%,
04/20/33
|
|
200
|
218,000
|
|
Costa Rica — 0.0%
|
|
||
|
Costa Rica Government International Bonds, 7.30%,
11/13/54(b)
|
|
200
|
219,000
|
|
Dominican Republic — 0.1%
|
|
||
|
Dominican Republic International Bonds(b)
|
|
|
|
|
4.50%, 01/30/30
|
|
226
|
221,254
|
|
7.05%, 02/03/31
|
|
150
|
161,775
|
|
|
|
|
383,029
|
|
Ecuador — 0.0%
|
|
||
|
Ecuador Government International Bonds, 6.90%,
07/31/30(b)(l)
|
|
21
|
18,376
|
|
Egypt — 0.1%
|
|
||
|
Egypt Government International Bonds
|
|
|
|
|
7.63%, 05/29/32(d)
|
|
200
|
196,900
|
|
7.50%, 02/16/61(b)
|
|
219
|
171,477
|
|
|
|
|
368,377
|
|
Security
|
|
Par
(000)
|
Value
|
|
Gabon — 0.0%
|
|
||
|
Gabon Government International Bonds, Series 4Y,
9.50%, 02/18/29(d)
|
USD
|
200
|
$ 185,062
|
|
Guatemala — 0.1%
|
|
||
|
Guatemala Government Bonds(b)
|
|
|
|
|
5.38%, 04/24/32
|
|
200
|
201,200
|
|
6.60%, 06/13/36
|
|
200
|
211,800
|
|
|
|
|
413,000
|
|
Hungary — 0.1%
|
|
||
|
Hungary Government International Bonds
|
|
|
|
|
5.25%, 06/16/29(b)
|
|
200
|
204,150
|
|
Series 10Y, 5.38%, 09/12/33(d)
|
EUR
|
121
|
153,984
|
|
Magyar Export-Import Bank Zrt, 6.00%, 05/16/29(d)
|
|
100
|
126,871
|
|
|
|
|
485,005
|
|
Indonesia — 0.0%
|
|
||
|
Indonesia Government International Bonds, 3.88%,
01/15/33
|
|
100
|
119,313
|
|
Ivory Coast — 0.1%
|
|
||
|
Ivory Coast Government International Bonds
|
|
|
|
|
5.88%, 10/17/31(d)
|
|
192
|
224,150
|
|
8.08%, 04/01/36(b)
|
USD
|
200
|
206,800
|
|
|
|
|
430,950
|
|
Kenya — 0.0%
|
|
||
|
Republic of Kenya Government International Bonds,
9.75%, 02/16/31(b)
|
|
200
|
213,460
|
|
Latvia — 0.0%
|
|
||
|
Latvia Government International Bonds, 5.13%,
07/30/34(b)
|
|
200
|
204,989
|
|
Mexico — 0.0%
|
|
||
|
Mexico Government International Bonds, 5.13%,
03/19/38
|
EUR
|
100
|
119,534
|
|
Morocco — 0.0%
|
|
||
|
Morocco Government International Bonds, 2.38%,
12/15/27(b)
|
USD
|
200
|
191,344
|
|
Nigeria — 0.1%
|
|
||
|
Nigeria Government International Bonds, 10.38%,
12/09/34(b)
|
|
200
|
222,600
|
|
Oman — 0.0%
|
|
||
|
Oman Government International Bonds, 6.75%,
01/17/48(d)
|
|
200
|
219,860
|
|
Panama — 0.1%
|
|
||
|
Panama Government International Bonds
|
|
|
|
|
7.50%, 03/01/31
|
|
200
|
220,700
|
|
6.40%, 02/14/35
|
|
200
|
207,300
|
|
|
|
|
428,000
|
|
Paraguay — 0.0%
|
|
||
|
Paraguay Government International Bonds, 2.74%,
01/29/33(d)
|
|
200
|
176,800
|
|
Security
|
|
Par
(000)
|
Value
|
|
Peru — 0.1%
|
|
||
|
Peruvian Government International Bonds
|
|
|
|
|
2.78%, 01/23/31
|
USD
|
151
|
$ 139,260
|
|
1.86%, 12/01/32
|
|
98
|
80,899
|
|
|
|
|
220,159
|
|
Poland — 0.0%
|
|
||
|
Republic of Poland Government International Bonds
|
|
|
|
|
4.88%, 10/04/33
|
|
37
|
37,392
|
|
5.50%, 04/04/53
|
|
119
|
114,903
|
|
|
|
|
152,295
|
|
Romania — 0.1%
|
|
||
|
Romania Government International Bonds
|
|
|
|
|
5.25%, 11/25/27(b)
|
|
50
|
50,524
|
|
2.12%, 07/16/31(d)
|
EUR
|
179
|
179,157
|
|
5.88%, 07/11/32(b)
|
|
51
|
61,299
|
|
6.25%, 09/10/34(b)
|
|
145
|
175,086
|
|
6.75%, 07/11/39(b)
|
|
65
|
77,809
|
|
|
|
|
543,875
|
|
Saudi Arabia — 0.0%
|
|
||
|
Saudi Government International Bonds, 4.50%,
04/17/30(d)
|
USD
|
200
|
202,390
|
|
Serbia — 0.0%
|
|
||
|
Serbia International Bonds, 6.00%, 06/12/34(b)
|
|
200
|
208,300
|
|
South Africa — 0.1%
|
|
||
|
Republic of South Africa Government International
Bonds
|
|
|
|
|
5.75%, 09/30/49
|
|
252
|
201,842
|
|
7.95%, 11/19/54(b)
|
|
200
|
202,947
|
|
|
|
|
404,789
|
|
Trinidad And Tobago — 0.0%
|
|
||
|
Trinidad & Tobago Government International Bonds,
6.40%, 06/26/34(b)
|
|
200
|
203,650
|
|
Turkey — 0.0%
|
|
||
|
Turkiye Government International Bonds, Series 7Y,
7.13%, 02/12/32
|
|
200
|
206,750
|
|
Uruguay — 0.0%
|
|
||
|
Oriental Republic of Uruguay, 5.25%, 09/10/60
|
|
127
|
119,466
|
|
Uzbekistan — 0.0%
|
|
||
|
Republic of Uzbekistan International Bonds, 5.38%,
05/29/27(b)
|
EUR
|
100
|
120,843
|
|
Total Foreign Agency Obligations — 1.9%
(Cost: $13,305,863)
|
14,115,959
|
||
|
Municipal Bonds
|
|||
|
Arizona — 0.1%
|
|
||
|
Maricopa County Industrial Development Authority, RB,
7.38%, 10/01/29(b)
|
USD
|
890
|
931,948
|
|
California — 1.6%
|
|
||
|
City of Los Angeles California, GO, Series A,
Sustainability Bonds, 5.00%, 09/01/42
|
|
2,000
|
1,956,684
|
|
Security
|
|
Par
(000)
|
Value
|
|
California (continued)
|
|
||
|
Golden State Tobacco Securitization Corp., Refunding
RB
|
|
|
|
|
Class B, (SAP), 3.29%, 06/01/42
|
USD
|
2,610
|
$ 2,042,377
|
|
Series A-1, 3.71%, 06/01/41
|
|
1,000
|
782,150
|
|
Oxnard Union High School District, Refunding GO,
(BAM), 3.18%, 08/01/43
|
|
1,600
|
1,238,823
|
|
Regents of the University of California Medical Center
Pooled Revenue, RB, BAB, Series H, 6.55%,
05/15/48
|
|
2,500
|
2,694,822
|
|
State of California, GO, BAB, 7.55%, 04/01/39
|
|
1,500
|
1,813,113
|
|
State of California, Refunding GO, 5.13%, 03/01/38
|
|
1,000
|
1,010,741
|
|
|
|
|
11,538,710
|
|
Florida — 0.2%
|
|
||
|
State Board of Administration Finance Corp., RB,
Series A, 5.53%, 07/01/34
|
|
1,500
|
1,562,434
|
|
Georgia — 0.2%
|
|
||
|
Municipal Electric Authority of Georgia, Refunding RB,
BAB, 6.64%, 04/01/57
|
|
987
|
1,077,957
|
|
Hawaii — 0.3%
|
|
||
|
City & County Honolulu Hawaii Wastewater System
Revenue, Refunding RB, Series A, 2.62%, 07/01/45
|
|
1,000
|
692,992
|
|
State of Hawaii, GO, Series GK, 6.15%, 10/01/38
|
|
1,000
|
1,085,311
|
|
|
|
|
1,778,303
|
|
Illinois — 0.2%
|
|
||
|
State of Illinois, GO, 5.10%, 06/01/33
|
|
1,745
|
1,766,292
|
|
Massachusetts — 0.6%
|
|
||
|
Massachusetts Educational Financing Authority, RB,
Series A, 6.17%, 07/01/50
|
|
2,500
|
2,564,427
|
|
Massachusetts Educational Financing Authority,
Refunding RB, Series A, 6.35%, 07/01/49
|
|
1,355
|
1,417,475
|
|
University of Massachusetts Building Authority,
Refunding RB, Series 3, 3.43%, 11/01/40
|
|
500
|
422,403
|
|
|
|
|
4,404,305
|
|
New Jersey — 0.3%
|
|
||
|
New Jersey Turnpike Authority, RB, BAB, Series A,
7.10%, 01/01/41
|
|
1,750
|
2,026,879
|
|
New York — 0.6%
|
|
||
|
City of New York, GO
|
|
|
|
|
Series H, 6.29%, 02/01/45
|
|
600
|
640,438
|
|
Series D-1, Sustainability Bonds, 5.09%, 10/01/49
|
|
1,000
|
967,272
|
|
New York City Municipal Water Finance Authority,
Refunding RB, BAB, 6.01%, 06/15/42
|
|
1,000
|
1,054,466
|
|
New York State Dormitory Authority, RB, BAB, Series F,
5.63%, 03/15/39
|
|
1,100
|
1,138,178
|
|
United Nations Development Corp., Refunding RB,
Series A, 6.54%, 08/01/55
|
|
850
|
900,629
|
|
|
|
|
4,700,983
|
|
Security
|
|
Par
(000)
|
Value
|
|
Texas — 0.4%
|
|
||
|
Dallas Fort Worth International Airport, Refunding RB,
2.84%, 11/01/46
|
USD
|
2,000
|
$ 1,456,311
|
|
Texas Natural Gas Securitization Finance Corp., RB,
Series 2023-1, Class A2, 5.17%, 04/01/41
|
|
1,500
|
1,532,051
|
|
|
|
|
2,988,362
|
|
Total Municipal Bonds — 4.5%
(Cost: $32,068,960)
|
32,776,173
|
||
|
Non-Agency Mortgage-Backed Securities
|
|||
|
Collateralized Mortgage Obligations — 9.6%
|
|||
|
A&D Mortgage Trust, Series 2024-NQM5, Class A1,
5.70%, 11/25/69(b)
|
|
1,352
|
1,360,348
|
|
ACRA Trust, Series 2024-NQM1, Class A1, 5.61%,
10/25/64(b)
|
|
431
|
433,229
|
|
Alternative Loan Trust
|
|
|
|
|
Series 2005-64CB, Class 1A15, 5.50%, 12/25/35
|
|
306
|
271,790
|
|
Series 2006-OA21, Class A1, (1-mo. Term SOFR +
0.30%), 4.44%, 03/20/47(a)
|
|
296
|
256,474
|
|
Series 2007-OA10, Class 2A1, (1-mo. Term SOFR +
0.61%), 4.77%, 09/25/47(a)
|
|
3,512
|
508,888
|
|
Angel Oak Mortgage Trust, Series 2024-10, Class A1,
5.35%, 10/25/69(b)
|
|
1,544
|
1,551,315
|
|
Banc of America Funding Trust, Series 2007-2,
Class 1A2, 6.00%, 03/25/37
|
|
181
|
143,810
|
|
Barclays Mortgage Loan Trust, Series 2025-NQM3,
Class A1, 5.64%, 05/25/65(b)
|
|
957
|
965,608
|
|
Bravo Residential Funding Trust(b)
|
|
|
|
|
Series 2021-NQM1, Class A1, 0.94%, 02/25/49(a)
|
|
445
|
417,942
|
|
Series 2023-NQM3, Class A1, 4.85%, 09/25/62
|
|
362
|
359,305
|
|
Series 2023-NQM4, Class A1, 6.44%, 05/25/63
|
|
1,000
|
1,007,037
|
|
Chase Home Lending Mortgage Trust, Series 2019-
ATR1, Class A12, 6.50%, 04/25/49(a)(b)
|
|
393
|
397,751
|
|
CIM Trust(b)
|
|
|
|
|
Series 2023-I1, Class A1, 6.03%, 04/25/58
|
|
928
|
929,680
|
|
Series 2023-I2, Class A1, 6.64%, 12/25/67
|
|
866
|
871,594
|
|
COLT Mortgage Loan Trust(b)
|
|
|
|
|
Series 2020-2, Class M1, 5.25%, 03/25/65(a)
|
|
3,050
|
3,050,690
|
|
Series 2020-3, Class M1, 3.36%, 04/27/65(a)
|
|
3,820
|
3,697,247
|
|
Series 2022-1, Class A1, 4.55%, 04/25/67(a)
|
|
1,269
|
1,264,127
|
|
Series 2022-9, Class A1, 6.79%, 12/25/67
|
|
229
|
228,709
|
|
Series 2023-2, Class A1, 6.60%, 07/25/68
|
|
887
|
894,319
|
|
Series 2023-3, Class M1, 7.82%, 09/25/68(a)
|
|
800
|
813,007
|
|
Series 2024-6, Class A1, 5.39%, 11/25/69
|
|
1,106
|
1,112,402
|
|
Series 2024-7, Class A1, 5.54%, 12/26/69
|
|
1,312
|
1,322,115
|
|
Series 2024-INV4, Class A1, 5.61%, 05/25/69
|
|
1,142
|
1,152,345
|
|
CSMC Trust, Series 2022-NQM5, Class A1, 5.17%,
05/25/67(a)(b)
|
|
2,245
|
2,244,302
|
|
Deephaven Residential Mortgage Trust, Series 2022-2,
Class A1, 4.30%, 03/25/67(a)(b)
|
|
213
|
208,007
|
|
Ellington Financial Mortgage Trust(a)(b)
|
|
|
|
|
Series 2020-1, Class M1, 5.24%, 05/25/65
|
|
1,500
|
1,541,443
|
|
Series 2021-2, Class A1, 0.93%, 06/25/66
|
|
164
|
138,014
|
|
Flagstar Mortgage Trust, Series 2021-4, Class A1,
2.50%, 06/01/51(a)(b)
|
|
2,190
|
1,819,487
|
|
GCAT Trust(a)(b)
|
|
|
|
|
Series 2022-NQM3, Class A1, 4.35%, 04/25/67
|
|
971
|
968,067
|
|
Series 2024-INV4, Class A2, 5.50%, 12/25/54
|
|
886
|
889,838
|
|
Security
|
|
Par
(000)
|
Value
|
|
Collateralized Mortgage Obligations (continued)
|
|||
|
GS Mortgage-Backed Securities Corp. Trust,
Series 2022-PJ2, Class A4, 2.50%, 06/25/52(a)(b)
|
USD
|
915
|
$ 759,716
|
|
GS Mortgage-Backed Securities Trust, Series 2021-PJ2,
Class A2, 2.50%, 11/25/51(a)(b)
|
|
808
|
669,606
|
|
GSR Mortgage Loan Trust, Series 2007-4F, Class 3A1,
6.00%, 07/25/37
|
|
72
|
45,523
|
|
Homes Trust, Series 2024-NQM2, Class A1, 5.72%,
10/25/69(b)
|
|
521
|
525,605
|
|
Homeward Opportunities Fund Trust, Series 2022-1,
Class A1, 5.08%, 07/25/67(b)
|
|
978
|
976,339
|
|
JP Morgan Mortgage Trust
|
|
|
|
|
Series 2006-S3, Class 1A12, 6.50%, 08/25/36
|
|
41
|
13,278
|
|
Series 2022-DSC1, Class A1, 4.75%, 01/25/63(a)(b)
|
|
377
|
372,762
|
|
Series 2022-INV3, Class A3B, 3.00%, 09/25/52(a)(b)
|
|
651
|
561,915
|
|
Series 2023-DSC1, Class A1, 4.63%, 07/25/63(a)(b)
|
|
270
|
265,044
|
|
Series 2024-INV1, Class A3, 5.50%, 04/25/55(a)(b)
|
|
1,655
|
1,663,343
|
|
Mello Mortgage Capital Acceptance, Series 2022-INV2,
Class A3, 3.00%, 04/25/52(a)(b)
|
|
690
|
594,524
|
|
Merrill Lynch Mortgage Investors Trust, Series 2006-A3,
Class 3A1, 5.84%, 05/25/36(a)
|
|
108
|
70,060
|
|
MFA Trust(b)
|
|
|
|
|
Series 2021-NQM1, Class M1, 2.31%, 04/25/65(a)
|
|
2,750
|
2,334,613
|
|
Series 2023-NQM1, Class A1, 5.75%, 11/25/67
|
|
672
|
670,521
|
|
Series 2023-NQM3, Class A1, 6.62%, 07/25/68
|
|
1,146
|
1,156,626
|
|
Mill City Mortgage Trust, Series 2023-NQM2, Class A1,
6.24%, 12/25/67(b)
|
|
1,387
|
1,389,977
|
|
New Residential Mortgage Loan Trust, Series 2022-
NQM5, Class A1, 6.30%, 11/25/52(b)
|
|
1,268
|
1,263,630
|
|
OBX Trust(b)
|
|
|
|
|
Series 2022-INC3, Class A1, 3.00%, 02/25/52(a)
|
|
600
|
518,379
|
|
Series 2022-NQM9, Class A1A, 6.45%, 09/25/62
|
|
386
|
384,769
|
|
Series 2022-NQM9, Class A1B, 6.45%, 09/25/62
|
|
990
|
987,442
|
|
Series 2023-NQM1, Class A1, 6.12%, 11/25/62(a)
|
|
524
|
523,050
|
|
Series 2023-NQM5, Class A1A, 6.57%, 06/25/63
|
|
1,064
|
1,072,062
|
|
Series 2023-NQM6, Class A1, 6.52%, 07/25/63
|
|
824
|
830,574
|
|
Series 2024-NQM17, Class A1, 5.61%, 11/25/64(a)
|
|
1,074
|
1,083,065
|
|
PMT Loan Trust, Series 2024-INV1, Class A3, 5.50%,
10/25/59(a)(b)
|
|
1,762
|
1,773,381
|
|
PRKCM Trust(b)
|
|
|
|
|
Series 2023-AFC2, Class A1, 6.48%, 06/25/58
|
|
901
|
903,494
|
|
Series 2023-AFC3, Class A1, 6.58%, 09/25/58
|
|
1,249
|
1,261,674
|
|
Provident Funding Mortgage Trust, Series 2024-1,
Class A1, 5.50%, 12/25/54(a)(b)
|
|
1,439
|
1,445,379
|
|
Radian Mortgage Capital Trust, Series 2024-J2,
Class A4, 5.50%, 03/25/55(a)(b)
|
|
635
|
635,065
|
|
RCKT Mortgage Trust, Series 2022-2, Class A1, 3.00%,
02/25/52(a)(b)
|
|
892
|
769,845
|
|
Sequoia Mortgage Trust, Series 2024-INV1, Class A3,
5.50%, 10/25/54(a)(b)
|
|
914
|
918,731
|
|
SG Residential Mortgage Trust, Series 2022-2,
Class A1, 5.35%, 08/25/62(b)
|
|
565
|
564,844
|
|
Spruce Hill Mortgage Loan Trust, Series 2022-SH1,
Class A1A, 4.10%, 07/25/57(b)
|
|
595
|
590,003
|
|
STAR Trust, Series 2021-1, Class M1, 2.36%,
05/25/65(a)(b)
|
|
2,050
|
1,829,219
|
|
Starwood Mortgage Residential Trust, Series 2020-3,
Class M1, 3.54%, 04/25/65(a)(b)
|
|
2,000
|
1,803,719
|
|
Towd Point Mortgage Trust, Series 2017-4, Class A1,
2.75%, 06/25/57(a)(b)
|
|
43
|
42,446
|
|
Verus Securitization Trust(b)
|
|
|
|
|
Series 2022-3, Class A1, 4.13%, 02/25/67
|
|
2,353
|
2,265,314
|
|
Series 2022-INV2, Class A1, 6.79%, 10/25/67
|
|
359
|
357,383
|
|
Security
|
|
Par
(000)
|
Value
|
|
Collateralized Mortgage Obligations (continued)
|
|||
|
Verus Securitization Trust(b) (continued)
|
|
|
|
|
Series 2023-1, Class A1, 5.85%, 12/25/67
|
USD
|
714
|
$ 713,776
|
|
Series 2023-5, Class A1, 6.48%, 06/25/68
|
|
763
|
768,467
|
|
Series 2024-8, Class A1, 5.36%, 10/25/69(a)
|
|
1,528
|
1,536,126
|
|
Series 2024-R1, Class A1, 5.22%, 09/25/69(a)
|
|
1,508
|
1,509,042
|
|
Visio Trust, Series 2023-2, Class A1, 6.60%, 10/25/58(b)
|
|
1,066
|
1,074,677
|
|
|
|
|
70,313,898
|
|
Commercial Mortgage-Backed Securities — 3.5%
|
|||
|
3650R Commercial Mortgage Trust, Series 2021-PF1,
Class A5, 2.52%, 11/15/54
|
|
1,250
|
1,105,225
|
|
Bank, Series 2021-BN35, Class C, 2.90%, 06/15/64(a)
|
|
672
|
568,204
|
|
Bayview Commercial Asset Trust, Series 2007-2A,
Class A1, (1-mo. Term SOFR + 0.52%), 4.68%,
07/25/37(a)(b)
|
|
476
|
441,428
|
|
BBCMS Mortgage Trust, Series 2025-C35, Class D,
4.50%, 07/15/58(b)
|
|
330
|
269,021
|
|
BFLD Commercial Mortgage Trust, Series 2024-UNIV,
Class D, (1-mo. Term SOFR + 2.69%), 6.84%,
11/15/41(a)(b)
|
|
630
|
632,362
|
|
BHMS Commercial Mortgage Trust, Series 2025-ATLS,
Class A, (1-mo. Term SOFR + 1.85%), 6.00%,
08/15/42(a)(b)
|
|
506
|
507,426
|
|
BPR Commercial Mortgage Trust, Series 2024-PARK,
Class D, 7.23%, 11/05/39(a)(b)
|
|
200
|
206,353
|
|
BX Commercial Mortgage Trust(a)(b)
|
|
|
|
|
Series 2021-CIP, Class A, (1-mo. Term SOFR +
1.04%), 5.19%, 12/15/38
|
|
532
|
531,853
|
|
Series 2021-SOAR, Class A, (1-mo. Term SOFR +
0.78%), 4.94%, 06/15/38
|
|
1,482
|
1,480,761
|
|
Series 2021-XL2, Class A, (1-mo. Term SOFR +
0.80%), 4.95%, 10/15/38
|
|
133
|
133,206
|
|
Series 2022-LP2, Class A, (1-mo. Term SOFR +
1.01%), 5.16%, 02/15/39
|
|
639
|
638,110
|
|
Series 2024-MF, Class C, (1-mo. Term SOFR +
1.94%), 6.09%, 02/15/39
|
|
451
|
452,429
|
|
Series 2024-XL4, Class C, (1-mo. Term SOFR +
2.19%), 6.34%, 02/15/39
|
|
93
|
93,065
|
|
BX Trust(a)(b)
|
|
|
|
|
Series 2021-LBA, Class AJV, (1-mo. Term SOFR +
0.91%), 5.07%, 02/15/36
|
|
1,690
|
1,689,472
|
|
Series 2022 VAMF, Class A, (1-mo. Term SOFR +
0.85%), 5.00%, 01/15/39
|
|
1,300
|
1,298,781
|
|
Series 2024-BIO, Class C, (1-mo. Term SOFR +
2.64%), 6.79%, 02/15/41
|
|
240
|
239,175
|
|
Series 2024-CNYN, Class C, (1-mo. Term SOFR +
1.94%), 6.09%, 04/15/41
|
|
615
|
615,907
|
|
Series 2024-PAT, Class B, (1-mo. Term SOFR +
3.04%), 7.19%, 03/15/41
|
|
170
|
170,000
|
|
Cantor Commercial Real Estate Lending, Series 2019-
CF2, Class A5, 2.87%, 11/15/52
|
|
550
|
517,029
|
|
Century Plaza Towers, Series 2019-CPT, Class C,
3.10%, 11/13/39(a)(b)
|
|
250
|
220,651
|
|
COMM Mortgage Trust, Series 2025-167G, Class B,
5.93%, 08/10/40(b)
|
|
341
|
342,251
|
|
Commercial Mortgage Trust(b)
|
|
|
|
|
Series 2025-167G, Class A, 5.50%, 08/10/40
|
|
309
|
310,148
|
|
Series 2025-SBX, Class B, 5.73%, 08/10/41(a)
|
|
722
|
725,429
|
|
CONE Trust, Series 2024-DFW1, Class D, (1-mo. Term
SOFR + 3.04%), 7.19%, 08/15/41(a)(b)
|
|
660
|
659,416
|
|
Security
|
|
Par
(000)
|
Value
|
|
Commercial Mortgage-Backed Securities (continued)
|
|||
|
CSMC(a)(b)
|
|
|
|
|
Series 2020-FACT, Class D, (1-mo. Term SOFR +
4.32%), 8.48%, 10/15/37
|
USD
|
900
|
$ 846,000
|
|
Series 2021-BHAR, Class C, (1-mo. Term SOFR +
2.11%), 6.27%, 11/15/38
|
|
300
|
296,531
|
|
DC Trust(a)(b)
|
|
|
|
|
Series 2024-HLTN, Class C, 7.29%, 04/13/40
|
|
220
|
219,969
|
|
Series 2025-LXP, Class B, (1-mo. Term SOFR +
1.84%), 5.99%, 08/15/37
|
|
220
|
220,069
|
|
Series 2025-LXP, Class C, (1-mo. Term SOFR +
2.24%), 6.39%, 08/15/37
|
|
236
|
236,221
|
|
Extended Stay America Trust, Series 2021-ESH,
Class D, (1-mo. Term SOFR + 2.36%), 6.51%,
07/15/38(a)(b)
|
|
1,627
|
1,627,523
|
|
GS Mortgage Securities Corp. Trust(a)(b)
|
|
|
|
|
(1-mo. Term SOFR + 3.45%), 7.59%, 11/25/41
|
|
400
|
399,959
|
|
Series 2025-800D, Class A, (1-mo. Term SOFR +
2.65%), 6.79%, 11/25/41
|
|
216
|
216,306
|
|
GS Mortgage Securities Trust, Series 2019-GC38,
Class AAB, 3.84%, 02/10/52
|
|
624
|
621,121
|
|
Hilton USA Trust, Series 2025-NVIL, Class B, (1-mo.
Term SOFR + 2.19%), 6.34%, 07/15/42(a)(b)
|
|
218
|
218,818
|
|
JW Commercial Mortgage Trust, Series 2024-MRCO,
Class C, (1-mo. Term SOFR + 2.39%), 6.54%,
06/15/39(a)(b)
|
|
800
|
801,500
|
|
MIC Trust, Series 2023-MIC, Class B, 9.86%,
12/05/38(a)(b)
|
|
234
|
253,546
|
|
Morgan Stanley Bank of America Merrill Lynch Trust,
Series 2015-C22, Class A4, 3.31%, 04/15/48
|
|
176
|
173,000
|
|
PENN Commercial Mortgage Trust, Series 2025-P11,
Class A, 5.52%, 08/10/42(a)(b)
|
|
314
|
319,574
|
|
SELF Commercial Mortgage Trust, Series 2024-STRG,
Class D, (1-mo. Term SOFR + 2.94%), 7.09%,
11/15/34(a)(b)
|
|
270
|
269,409
|
|
UBS Commercial Mortgage Trust, Series 2019-C18,
Class A4, 3.04%, 12/15/52
|
|
1,200
|
1,119,403
|
|
VEGAS, Series 2024-GCS, Class D, 6.42%,
07/10/36(a)(b)
|
|
650
|
643,001
|
|
VRTX Trust, Series 2025-HQ, Class B, 5.67%,
08/05/42(a)(b)
|
|
730
|
737,242
|
|
Wells Fargo Commercial Mortgage Trust
|
|
|
|
|
Series 2016-LC25, Class A4, 3.64%, 12/15/59
|
|
1,700
|
1,680,879
|
|
Series 2024-BPRC, Class D, 7.08%, 07/15/43(b)
|
|
250
|
251,823
|
|
Series 2025-5C3, Class A3, 6.10%, 01/15/58
|
|
611
|
648,103
|
|
|
|
|
25,647,699
|
|
Total Non-Agency Mortgage-Backed Securities — 13.1%
(Cost: $98,563,479)
|
95,961,597
|
||
|
Preferred Securities
|
|||
|
Capital Trusts — 7.0%(a)
|
|||
|
Automobiles — 0.4%
|
|
||
|
General Motors Financial Co., Inc., Series C, 5.70%(i)
|
|
2,500
|
2,488,950
|
|
Banks(i) — 3.7%
|
|
||
|
Bank of America Corp.
|
|
|
|
|
6.63%
|
|
7,650
|
7,959,741
|
|
Series FF, 5.88%(f)
|
|
3,500
|
3,535,896
|
|
Barclays PLC
|
|
|
|
|
4.38%
|
|
310
|
297,393
|
|
Security
|
|
Par
(000)
|
Value
|
|
Banks (continued)
|
|
||
|
Barclays PLC (continued)
|
|
|
|
|
9.63%
|
USD
|
640
|
$ 726,568
|
|
Citigroup, Inc.
|
|
|
|
|
Series BB, 7.20%
|
|
2,500
|
2,580,377
|
|
Series FF, 6.95%
|
|
2,500
|
2,567,517
|
|
HSBC Holdings PLC
|
|
|
|
|
4.70%
|
|
275
|
259,433
|
|
6.00%(f)
|
|
235
|
235,912
|
|
6.50%(f)
|
|
1,090
|
1,113,407
|
|
ING Groep NV, Series NC10, 4.25%
|
|
1,500
|
1,337,264
|
|
Krung Thai Bank PCL/Cayman Islands, 4.40%(d)
|
|
252
|
250,583
|
|
Lloyds Banking Group PLC, 6.75%
|
|
595
|
601,277
|
|
NatWest Group PLC, 8.13%
|
|
225
|
253,295
|
|
PNC Financial Services Group, Inc., Series W, 6.25%(f)
|
|
3,584
|
3,677,546
|
|
U.S. Bancorp, Series J, 5.30%(f)
|
|
1,900
|
1,894,381
|
|
|
|
|
27,290,590
|
|
Capital Markets — 0.2%
|
|
||
|
State Street Corp., 5.30%, 06/01/77
|
|
1,485
|
1,343,770
|
|
Electric Utilities — 0.9%
|
|
||
|
NextEra Energy Capital Holdings, Inc., 5.65%, 05/01/79
|
|
4,750
|
4,775,063
|
|
PG&E Corp., 7.38%, 03/15/55
|
|
1,723
|
1,770,124
|
|
|
|
|
6,545,187
|
|
Financial Services(i) — 1.5%
|
|
||
|
Bank of New York Mellon Corp., Series F, 4.63%
|
|
2,750
|
2,730,921
|
|
Goldman Sachs Group, Inc., Series W, 7.50%
|
|
2,500
|
2,653,275
|
|
NatWest Group PLC, 6.00%
|
|
1,575
|
1,576,824
|
|
UBS Group AG(b)
|
|
|
|
|
4.88%
|
|
2,000
|
1,969,222
|
|
Series NC10, 9.25%
|
|
1,200
|
1,429,040
|
|
Series NC5, 9.25%
|
|
400
|
440,606
|
|
|
|
|
10,799,888
|
|
Health Care Equipment & Supplies — 0.2%
|
|
||
|
CVS Health Corp.
|
|
|
|
|
6.75%, 12/10/54
|
|
320
|
330,315
|
|
7.00%, 03/10/55
|
|
1,305
|
1,369,915
|
|
|
|
|
1,700,230
|
|
Independent Power and Renewable Electricity Producers(b)(i) — 0.1%
|
|
||
|
NRG Energy, Inc., 10.25%
|
|
340
|
370,724
|
|
Vistra Corp., 7.00%
|
|
141
|
143,153
|
|
|
|
|
513,877
|
|
Utilities — 0.0%
|
|
||
|
Electricite de France SA, 3.38%(d)(i)
|
EUR
|
200
|
225,121
|
|
|
50,907,613
|
||
|
|
|
Shares
|
|
|
Preferred Stocks — 0.0%(e)
|
|||
|
Financial Services — 0.0%
|
|
||
|
Federal National Mortgage Association, Series S(a)(i)
|
|
10,000
|
166,000
|
|
Security
|
|
Shares
|
Value
|
|
IT Services(c) — 0.0%
|
|
||
|
Veritas Kapital Assurance PLC
|
|
|
|
|
Series G
|
|
428
|
$ 9,737
|
|
Series G-1
|
|
296
|
6,734
|
|
|
|
|
16,471
|
|
|
182,471
|
||
|
Trust Preferred — 0.1%
|
|||
|
Financial Services — 0.1%
|
|
||
|
Citigroup Capital XIII, 10/30/40(a)(e)
|
|
29,583
|
892,519
|
|
|
892,519
|
||
|
Total Preferred Securities — 7.1%
(Cost: $50,169,126)
|
51,982,603
|
||
|
|
|
Par
(000)
|
|
|
U.S. Government Sponsored Agency Securities
|
|||
|
Agency Obligations — 0.7%
|
|
||
|
Resolution Funding Corp. Principal Strip, 0.00%,
04/15/30(k)
|
USD
|
6,055
|
5,066,363
|
|
Collateralized Mortgage Obligations — 5.3%
|
|
||
|
Fannie Mae REMICS
|
|
|
|
|
Series 2015-47, Class GL, 3.50%, 07/25/45
|
|
1,636
|
1,496,856
|
|
Series 2022-25, Class KL, 4.00%, 05/25/52
|
|
14,500
|
13,396,090
|
|
Series 2025-24, Class PZ, 5.00%, 03/25/55
|
|
5,126
|
4,898,252
|
|
Series 5499, Class FW, (30-day Avg SOFR + 1.40%),
5.76%, 02/25/55(a)
|
|
4,494
|
4,526,413
|
|
Freddie Mac REMICS
|
|
|
|
|
Series 4350, Class DY, 4.00%, 06/15/44
|
|
1,301
|
1,267,534
|
|
Series 4398, Class ZX, 4.00%, 09/15/54
|
|
11,907
|
11,038,357
|
|
Series 4549, Class TZ, 4.00%, 11/15/45
|
|
2,522
|
2,456,076
|
|
|
|
|
39,079,578
|
|
Interest Only Collateralized Mortgage Obligations — 1.4%
|
|
||
|
Fannie Mae REMICS
|
|
|
|
|
Series 2012-47, Class NI, 4.50%, 04/25/42
|
|
559
|
75,225
|
|
Series 5112, Class KI, 3.50%, 06/25/51
|
|
13,973
|
2,612,901
|
|
Ginnie Mae
|
|
|
|
|
Series 2009-116, Class KS, (1-mo. Term SOFR +
6.36%), 2.21%, 12/16/39(a)
|
|
472
|
47,161
|
|
Series 2019-151, Class IA, 3.50%, 12/20/49
|
|
26,340
|
4,895,898
|
|
Series 2021-175, Class IE, 4.00%, 09/20/47
|
|
12,657
|
2,637,809
|
|
|
|
|
10,268,994
|
|
Mortgage-Backed Securities(f) — 8.9%
|
|
||
|
Fannie Mae Mortgage-Backed Securities, 4.00%,
04/01/56
|
|
768
|
725,401
|
|
Freddie Mac Mortgage-Backed Securities
|
|
|
|
|
4.00%, 05/01/39
|
|
3,649
|
3,589,049
|
|
4.50%, 03/01/47
|
|
447
|
447,524
|
|
Ginnie Mae Mortgage-Backed Securities
|
|
|
|
|
5.50%, 08/15/33 - 07/20/55
|
|
1,181
|
1,201,832
|
|
6.00%, 07/20/55
|
|
760
|
788,460
|
|
Uniform Mortgage-Backed Securities
|
|
|
|
|
1.50%, 05/01/31
|
|
4,121
|
3,883,377
|
|
5.00%, 08/01/34 - 11/01/45
|
|
22,560
|
22,875,844
|
|
4.50%, 06/01/37 - 06/01/44
|
|
11,195
|
11,178,775
|
|
5.50%, 12/01/37 - 08/01/54
|
|
7,835
|
7,993,854
|
|
6.00%, 12/01/38 - 08/01/55
|
|
1,607
|
1,655,217
|
|
3.50%, 09/01/42 - 04/01/53
|
|
2,409
|
2,219,826
|
|
Security
|
|
Par
(000)
|
Value
|
|
Mortgage-Backed Securities (continued)
|
|
||
|
Uniform Mortgage-Backed Securities (continued)
|
|
|
|
|
3.00%, 02/01/52
|
USD
|
1,714
|
$ 1,506,360
|
|
4.00%, 05/01/52 - 09/01/52
|
|
3,440
|
3,277,430
|
|
6.50%, 10/01/53
|
|
3,623
|
3,746,835
|
|
|
|
|
65,089,784
|
|
Total U.S. Government Sponsored Agency Securities — 16.3%
(Cost: $121,242,358)
|
119,504,719
|
||
|
U.S. Treasury Obligations
|
|||
|
U.S. Treasury Bonds(f)
|
|
|
|
|
4.38%, 02/15/38
|
|
1,600
|
1,613,562
|
|
4.13%, 08/15/44
|
|
30,400
|
28,217,375
|
|
3.00%, 11/15/45
|
|
54,500
|
42,201,309
|
|
3.13%, 05/15/48
|
|
1,900
|
1,465,078
|
|
4.63%, 05/15/54
|
|
63,500
|
62,388,750
|
|
4.75%, 05/15/55
|
|
70,000
|
70,218,750
|
|
U.S. Treasury Notes(f)
|
|
|
|
|
3.63%, 05/31/28
|
|
1,900
|
1,900,297
|
|
4.88%, 10/31/28
|
|
7,800
|
8,077,875
|
|
Total U.S. Treasury Obligations — 29.6%
(Cost: $215,047,486)
|
216,082,996
|
||
|
Total Long-Term Investments — 145.3%
(Cost: $1,058,692,056)
|
1,061,956,476
|
||
|
|
|
Shares
|
|
|
Short-Term Securities
|
|||
|
Money Market Funds — 1.1%
|
|
||
|
BlackRock Liquidity Funds, T-Fund, Institutional Shares,
4.01%(p)(q)
|
|
8,165,942
|
8,165,942
|
|
|
|
Par
(000)
|
|
|
U.S. Treasury Obligations — 7.2%
|
|
||
|
U.S. Treasury Notes(f)
|
|
|
|
|
5.00%, 10/31/25
|
USD
|
26,000
|
26,016,433
|
|
0.63%, 07/31/26
|
|
27,500
|
26,795,742
|
|
|
52,812,175
|
||
|
Total Short-Term Securities — 8.3%
(Cost: $60,885,533)
|
60,978,117
|
||
|
Total Investments — 153.6%
(Cost: $1,119,577,589)
|
1,122,934,593
|
||
|
Liabilities in Excess of Other Assets — (53.6)%
|
(391,879,093
)
|
||
|
Net Assets — 100.0%
|
$ 731,055,500
|
||
|
(a)
|
Variable rate security. Interest rate resets periodically. The rate shown is the effective
interest rate as of period end. Security description also includes the reference rate
and
spread if published and available.
|
|
(b)
|
Security exempt from registration pursuant to Rule 144A under the Securities Act of
1933,
as amended. These securities may be resold in transactions exempt from registration
to
qualified institutional investors.
|
|
(c)
|
Security is valued using significant unobservable inputs and is classified as Level
3 in the
fair value hierarchy.
|
|
(d)
|
This security may be resold to qualified foreign investors and foreign institutional
buyers
under Regulation S of the Securities Act of 1933.
|
|
(e)
|
Non-income producing security.
|
|
(f)
|
All or a portion of the security has been pledged as collateral in connection with
outstanding reverse repurchase agreements.
|
|
(g)
|
When-issued security.
|
|
(h)
|
Payment-in-kind security which may pay interest/dividends in additional par/shares
and/or in cash. Rates shown are the current rate and possible payment rates.
|
|
(i)
|
Perpetual security with no stated maturity date.
|
|
(j)
|
Convertible security.
|
|
(k)
|
Zero-coupon bond.
|
|
(l)
|
Step coupon security. Coupon rate will either increase (step-up bond) or decrease
(step-
down bond) at regular intervals until maturity. Interest rate shown reflects the rate
currently in effect.
|
|
(m)
|
Issuer filed for bankruptcy and/or is in default.
|
|
(n)
|
Represents an unsettled loan commitment at period end. Certain details associated
with
this purchase are not known prior to the settlement date, including coupon rate.
|
|
(o)
|
Rounds to less than 1,000.
|
|
(p)
|
Affiliate of the Trust.
|
|
(q)
|
Annualized 7-day yield as of period end.
|
|
Affiliated Issuer
|
Value at
12/31/24
|
Purchases
at Cost
|
Proceeds
from Sales
|
Net
Realized
Gain (Loss)
|
Change in
Unrealized
Appreciation
(Depreciation)
|
Value at
09/30/25
|
Shares
Held at
09/30/25
|
Income
|
Capital Gain
Distributions
from
Underlying
Funds
|
|
BlackRock Liquidity Funds, T-Fund, Institutional Shares
|
$ 4,465,196
|
$ 3,700,746
(a)
|
$ —
|
$ —
|
$ —
|
$ 8,165,942
|
8,165,942
|
$ 180,137
|
$ —
|
|
(a)
|
Represents net amount purchased (sold).
|
|
Counterparty
|
Interest
Rate
|
Trade
Date
|
Maturity
Date(a)
|
Face Value
|
Face Value
Including
Accrued Interest
|
Type of Non-Cash Underlying
Collateral
|
Remaining
Contractual Maturity
of the Agreements(a)
|
|
U.S. Bancorp Investments, Inc.
|
4.06
%(b)
|
04/07/25
|
Open
|
$ 3,105,000
|
$ 3,170,798
|
Corporate Bonds
|
Open/Demand
|
|
U.S. Bancorp Investments, Inc.
|
4.06
(b)
|
04/07/25
|
Open
|
551,375
|
563,059
|
Corporate Bonds
|
Open/Demand
|
|
Goldman Sachs & Co. LLC
|
4.20
(b)
|
05/19/25
|
Open
|
112,416
|
114,292
|
Corporate Bonds
|
Open/Demand
|
|
Goldman Sachs & Co. LLC
|
4.20
(b)
|
05/19/25
|
Open
|
373,125
|
379,352
|
Corporate Bonds
|
Open/Demand
|
|
HSBC Bank PLC
|
4.20
(b)
|
06/16/25
|
Open
|
3,869,257
|
3,920,433
|
Corporate Bonds
|
Open/Demand
|
|
Nomura Securities International, Inc.
|
4.07
(b)
|
07/01/25
|
Open
|
45,483
|
45,985
|
Corporate Bonds
|
Open/Demand
|
|
Nomura Securities International, Inc.
|
4.15
(b)
|
07/01/25
|
Open
|
581,398
|
587,936
|
Corporate Bonds
|
Open/Demand
|
|
Nomura Securities International, Inc.
|
4.17
(b)
|
07/01/25
|
Open
|
309,129
|
312,621
|
Corporate Bonds
|
Open/Demand
|
|
Nomura Securities International, Inc.
|
4.17
(b)
|
07/01/25
|
Open
|
971,250
|
982,221
|
Corporate Bonds
|
Open/Demand
|
|
BNP Paribas SA
|
4.28
(b)
|
07/10/25
|
Open
|
1,434,500
|
1,449,159
|
U.S. Treasury Obligations
|
Open/Demand
|
|
BNP Paribas SA
|
4.30
(b)
|
07/10/25
|
Open
|
8,121,750
|
8,204,745
|
U.S. Treasury Obligations
|
Open/Demand
|
|
BNP Paribas SA
|
4.30
(b)
|
07/10/25
|
Open
|
1,610,000
|
1,626,452
|
U.S. Treasury Obligations
|
Open/Demand
|
|
BNP Paribas SA
|
4.30
(b)
|
07/10/25
|
Open
|
41,351,875
|
41,774,445
|
U.S. Treasury Obligations
|
Open/Demand
|
|
Nomura Securities International, Inc.
|
4.30
(b)
|
07/10/25
|
Open
|
1,897,625
|
1,917,028
|
U.S. Treasury Obligations
|
Open/Demand
|
|
BNP Paribas SA
|
4.14
(b)
|
07/21/25
|
Open
|
467,280
|
471,383
|
Corporate Bonds
|
Open/Demand
|
|
BNP Paribas SA
|
4.17
(b)
|
07/21/25
|
Open
|
3,065,440
|
3,092,538
|
Capital Trusts
|
Open/Demand
|
|
BNP Paribas SA
|
4.20
(b)
|
07/21/25
|
Open
|
1,178,205
|
1,188,691
|
Capital Trusts
|
Open/Demand
|
|
BNP Paribas Securities Corp.
|
4.12
(b)
|
07/21/25
|
Open
|
101,400
|
102,286
|
Corporate Bonds
|
Open/Demand
|
|
BNP Paribas Securities Corp.
|
4.15
(b)
|
07/21/25
|
Open
|
610,650
|
616,024
|
Corporate Bonds
|
Open/Demand
|
|
BNP Paribas Securities Corp.
|
4.15
(b)
|
07/21/25
|
Open
|
132,678
|
133,845
|
Corporate Bonds
|
Open/Demand
|
|
BNP Paribas Securities Corp.
|
4.20
(b)
|
07/21/25
|
Open
|
1,385,560
|
1,397,891
|
Corporate Bonds
|
Open/Demand
|
|
BNP Paribas Securities Corp.
|
4.20
(b)
|
07/21/25
|
Open
|
207,080
|
208,923
|
Corporate Bonds
|
Open/Demand
|
|
Nomura Securities International, Inc.
|
4.30
(b)
|
07/22/25
|
Open
|
26,640,625
|
26,873,701
|
U.S. Treasury Obligations
|
Open/Demand
|
|
Citigroup Global Markets, Inc.
|
4.23
(b)
|
07/28/25
|
Open
|
486,250
|
490,183
|
Corporate Bonds
|
Open/Demand
|
|
BNP Paribas Securities Corp.
|
4.14
(b)
|
08/05/25
|
Open
|
572,986
|
576,969
|
Corporate Bonds
|
Open/Demand
|
|
Citigroup Global Markets, Inc.
|
4.26
(b)
|
08/06/25
|
Open
|
70,087,500
|
70,565,029
|
U.S. Treasury Obligations
|
Open/Demand
|
|
Citigroup Global Markets, Inc.
|
4.30
(b)
|
08/06/25
|
Open
|
62,150,625
|
62,576,978
|
U.S. Treasury Obligations
|
Open/Demand
|
|
Citigroup Global Markets, Inc.
|
4.30
(b)
|
08/06/25
|
Open
|
28,424,000
|
28,618,989
|
U.S. Treasury Obligations
|
Open/Demand
|
|
Citigroup Global Markets, Inc.
|
4.30
(b)
|
08/06/25
|
Open
|
26,390,000
|
26,571,035
|
U.S. Treasury Obligations
|
Open/Demand
|
|
Goldman Sachs & Co. LLC
|
4.10
(b)
|
08/07/25
|
Open
|
98,840
|
99,497
|
Corporate Bonds
|
Open/Demand
|
|
Morgan Stanley & Co. LLC
|
3.75
(b)
|
08/13/25
|
Open
|
428,085
|
430,416
|
Corporate Bonds
|
Open/Demand
|
|
Counterparty
|
Interest
Rate
|
Trade
Date
|
Maturity
Date(a)
|
Face Value
|
Face Value
Including
Accrued Interest
|
Type of Non-Cash Underlying
Collateral
|
Remaining
Contractual Maturity
of the Agreements(a)
|
|
Morgan Stanley & Co. LLC
|
0.50
%(b)
|
08/19/25
|
Open
|
$ 71,049
|
$ 71,112
|
Corporate Bonds
|
Open/Demand
|
|
Morgan Stanley & Co. LLC
|
0.75
(b)
|
08/19/25
|
Open
|
72,675
|
72,762
|
Corporate Bonds
|
Open/Demand
|
|
Morgan Stanley & Co. LLC
|
(0.25
)(b)
|
08/26/25
|
Open
|
53,300
|
53,300
|
Corporate Bonds
|
Open/Demand
|
|
Morgan Stanley & Co. LLC
|
3.50
(b)
|
08/26/25
|
Open
|
259,569
|
260,542
|
Corporate Bonds
|
Open/Demand
|
|
Morgan Stanley & Co. LLC
|
3.25
(b)
|
09/04/25
|
Open
|
150,000
|
150,394
|
Corporate Bonds
|
Open/Demand
|
|
Morgan Stanley & Co. LLC
|
3.75
(b)
|
09/09/25
|
Open
|
233,479
|
234,050
|
Corporate Bonds
|
Open/Demand
|
|
Bank of Montreal
|
4.33
|
09/12/25
|
10/14/25
|
6,863,114
|
6,876,322
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
321,424
|
322,041
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
833,252
|
834,851
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
150,870
|
151,160
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
1,508,435
|
1,511,331
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
1,167,016
|
1,169,257
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
3,598,317
|
3,605,225
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
3,649,796
|
3,656,804
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
463,700
|
464,591
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
527,326
|
528,339
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
247,083
|
247,557
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
127,495
|
127,739
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
1,336,383
|
1,338,949
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
346,607
|
347,273
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
12,660,650
|
12,684,958
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
802,914
|
804,456
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
3,357,087
|
3,363,533
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
714,096
|
715,467
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
429,775
|
430,600
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
1,626,835
|
1,629,959
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
1,468,243
|
1,471,062
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
187,002
|
187,361
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
1,411,431
|
1,414,141
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
1,077,678
|
1,079,747
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
118,877
|
119,105
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
2,055,895
|
2,059,843
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
753,931
|
755,379
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
706,546
|
707,903
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Counterparty
|
Interest
Rate
|
Trade
Date
|
Maturity
Date(a)
|
Face Value
|
Face Value
Including
Accrued Interest
|
Type of Non-Cash Underlying
Collateral
|
Remaining
Contractual Maturity
of the Agreements(a)
|
|
Wells Fargo Securities, LLC
|
4.32
%
|
09/12/25
|
10/14/25
|
$ 159,451
|
$ 159,757
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
1,225,270
|
1,227,623
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
1,823,638
|
1,827,139
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
422,970
|
423,783
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
713,074
|
714,444
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
1,133,877
|
1,136,054
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
806,457
|
808,005
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
1,290,399
|
1,292,876
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
199,495
|
199,878
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/12/25
|
10/14/25
|
875,921
|
877,603
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
Morgan Stanley & Co. LLC
|
2.35
(b)
|
09/12/25
|
Open
|
365,919
|
366,421
|
Corporate Bonds
|
Open/Demand
|
|
Wells Fargo Securities, LLC
|
4.32
|
09/17/25
|
10/14/25
|
1,439,409
|
1,441,827
|
U.S. Government Sponsored
Agency Securities
|
Up to 30 Days
|
|
J.P. Morgan Securities LLC
|
4.05
|
09/19/25
|
10/02/25
|
268,757
|
269,120
|
Corporate Bonds
|
Up to 30 Days
|
|
J.P. Morgan Securities LLC
|
4.15
|
09/19/25
|
10/02/25
|
149,750
|
149,957
|
Corporate Bonds
|
Up to 30 Days
|
|
J.P. Morgan Securities LLC
|
4.20
|
09/19/25
|
10/02/25
|
1,661,020
|
1,663,345
|
Corporate Bonds
|
Up to 30 Days
|
|
Barclays Bank PLC
|
4.24
|
09/19/25
|
10/31/25
|
3,800,000
|
3,805,371
|
Corporate Bonds
|
Up to 30 Days
|
|
Barclays Bank PLC
|
4.24
|
09/19/25
|
10/31/25
|
3,918,750
|
3,924,288
|
Corporate Bonds
|
Up to 30 Days
|
|
Barclays Capital, Inc.
|
4.20
|
09/19/25
|
10/31/25
|
1,059,306
|
1,060,789
|
Capital Trusts
|
Up to 30 Days
|
|
Barclays Capital, Inc.
|
4.20
|
09/19/25
|
10/31/25
|
224,719
|
225,033
|
Capital Trusts
|
Up to 30 Days
|
|
Barclays Capital, Inc.
|
4.20
|
09/19/25
|
10/31/25
|
119,858
|
120,025
|
Capital Trusts
|
Up to 30 Days
|
|
Barclays Capital, Inc.
|
4.20
|
09/19/25
|
10/31/25
|
79,905
|
80,017
|
Capital Trusts
|
Up to 30 Days
|
|
Barclays Capital, Inc.
|
4.20
|
09/19/25
|
10/31/25
|
2,231,250
|
2,234,374
|
Corporate Bonds
|
Up to 30 Days
|
|
Barclays Capital, Inc.
|
4.20
|
09/19/25
|
10/31/25
|
827,500
|
828,659
|
Corporate Bonds
|
Up to 30 Days
|
|
Barclays Capital, Inc.
|
4.20
|
09/19/25
|
10/31/25
|
955,000
|
956,337
|
Corporate Bonds
|
Up to 30 Days
|
|
Barclays Capital, Inc.
|
4.20
|
09/19/25
|
10/31/25
|
1,142,812
|
1,144,412
|
Corporate Bonds
|
Up to 30 Days
|
|
BofA Securities, Inc.
|
3.70
|
09/19/25
|
10/31/25
|
47,768
|
47,826
|
Corporate Bonds
|
Up to 30 Days
|
|
BofA Securities, Inc.
|
3.90
|
09/19/25
|
10/31/25
|
526,990
|
527,675
|
Corporate Bonds
|
Up to 30 Days
|
|
BofA Securities, Inc.
|
3.90
|
09/19/25
|
10/31/25
|
165,887
|
166,103
|
Corporate Bonds
|
Up to 30 Days
|
|
BofA Securities, Inc.
|
4.00
|
09/19/25
|
10/31/25
|
91,053
|
91,174
|
Corporate Bonds
|
Up to 30 Days
|
|
BofA Securities, Inc.
|
4.05
|
09/19/25
|
10/31/25
|
1,440,146
|
1,442,090
|
Corporate Bonds
|
Up to 30 Days
|
|
BofA Securities, Inc.
|
4.10
|
09/19/25
|
10/31/25
|
311,330
|
311,755
|
Corporate Bonds
|
Up to 30 Days
|
|
BofA Securities, Inc.
|
4.10
|
09/19/25
|
10/31/25
|
483,920
|
484,581
|
Corporate Bonds
|
Up to 30 Days
|
|
BofA Securities, Inc.
|
4.10
|
09/19/25
|
10/31/25
|
984,637
|
985,983
|
Corporate Bonds
|
Up to 30 Days
|
|
BofA Securities, Inc.
|
4.15
|
09/19/25
|
10/31/25
|
267,375
|
267,745
|
Corporate Bonds
|
Up to 30 Days
|
|
BofA Securities, Inc.
|
4.15
|
09/19/25
|
10/31/25
|
109,838
|
109,989
|
Corporate Bonds
|
Up to 30 Days
|
|
BofA Securities, Inc.
|
4.15
|
09/19/25
|
10/31/25
|
140,828
|
141,022
|
Corporate Bonds
|
Up to 30 Days
|
|
BofA Securities, Inc.
|
4.15
|
09/19/25
|
10/31/25
|
633,420
|
634,296
|
Corporate Bonds
|
Up to 30 Days
|
|
BofA Securities, Inc.
|
4.20
|
09/19/25
|
10/31/25
|
82,031
|
82,146
|
Corporate Bonds
|
Up to 30 Days
|
|
BofA Securities, Inc.
|
4.20
|
09/19/25
|
10/31/25
|
222,480
|
222,791
|
Corporate Bonds
|
Up to 30 Days
|
|
BofA Securities, Inc.
|
4.20
|
09/19/25
|
10/31/25
|
1,260,000
|
1,261,764
|
Corporate Bonds
|
Up to 30 Days
|
|
BofA Securities, Inc.
|
4.20
|
09/19/25
|
10/31/25
|
451,250
|
451,882
|
Corporate Bonds
|
Up to 30 Days
|
|
BofA Securities, Inc.
|
4.20
|
09/19/25
|
10/31/25
|
1,687,500
|
1,689,863
|
Corporate Bonds
|
Up to 30 Days
|
|
BofA Securities, Inc.
|
4.20
|
09/19/25
|
10/31/25
|
423,559
|
424,152
|
Corporate Bonds
|
Up to 30 Days
|
|
BofA Securities, Inc.
|
4.20
|
09/19/25
|
10/31/25
|
831,852
|
833,017
|
Corporate Bonds
|
Up to 30 Days
|
|
BofA Securities, Inc.
|
4.20
|
09/19/25
|
10/31/25
|
2,804,910
|
2,808,837
|
Corporate Bonds
|
Up to 30 Days
|
|
BofA Securities, Inc.
|
4.20
|
09/19/25
|
10/31/25
|
1,648,250
|
1,650,558
|
Capital Trusts
|
Up to 30 Days
|
|
BofA Securities, Inc.
|
4.20
|
09/19/25
|
10/31/25
|
149,000
|
149,209
|
Corporate Bonds
|
Up to 30 Days
|
|
BofA Securities, Inc.
|
4.20
|
09/19/25
|
10/31/25
|
2,932,500
|
2,936,606
|
Corporate Bonds
|
Up to 30 Days
|
|
BofA Securities, Inc.
|
4.20
|
09/19/25
|
10/31/25
|
3,870,000
|
3,875,418
|
Corporate Bonds
|
Up to 30 Days
|
|
BofA Securities, Inc.
|
4.20
|
09/19/25
|
10/31/25
|
414,509
|
415,089
|
Corporate Bonds
|
Up to 30 Days
|
|
BofA Securities, Inc.
|
4.20
|
09/19/25
|
10/31/25
|
380,587
|
381,120
|
Corporate Bonds
|
Up to 30 Days
|
|
Counterparty
|
Interest
Rate
|
Trade
Date
|
Maturity
Date(a)
|
Face Value
|
Face Value
Including
Accrued Interest
|
Type of Non-Cash Underlying
Collateral
|
Remaining
Contractual Maturity
of the Agreements(a)
|
|
BofA Securities, Inc.
|
4.20
%
|
09/19/25
|
10/31/25
|
$ 724,750
|
$ 725,765
|
Corporate Bonds
|
Up to 30 Days
|
|
Morgan Stanley & Co. LLC
|
3.75
(b)
|
09/23/25
|
Open
|
50,000
|
50,036
|
Corporate Bonds
|
Open/Demand
|
|
RBC Capital Markets, LLC
|
4.24
(b)
|
09/29/25
|
Open
|
1,887,500
|
1,887,945
|
Corporate Bonds
|
Open/Demand
|
|
Barclays Capital, Inc.
|
4.24
|
09/30/25
|
10/31/25
|
6,074,062
|
6,074,778
|
Foreign Agency Obligations
|
Up to 30 Days
|
|
BofA Securities, Inc.
|
4.10
|
09/30/25
|
10/31/25
|
86,070
|
86,070
|
Corporate Bonds
|
Up to 30 Days
|
|
|
|
|
|
$ 394,191,746
|
$ 396,664,439
|
|
|
|
(a)
|
Certain agreements have no stated maturity and can be terminated by either party at
any time.
|
|
(b)
|
Variable rate security. Rate as of period end and maturity is the date the principal
owed can be recovered through demand.
|
|
Description
|
Number of
Contracts
|
Expiration
Date
|
Notional
Amount (000)
|
Value/
Unrealized
Appreciation
(Depreciation)
|
|
Long Contracts
|
|
|
|
|
|
U.S. Long Bond
|
45
|
12/19/25
|
$ 5,248
|
$ 99,033
|
|
Ultra U.S. Treasury Bond
|
156
|
12/19/25
|
18,749
|
529,700
|
|
2-Year U.S. Treasury Note
|
157
|
12/31/25
|
32,714
|
(38,230
)
|
|
5-Year U.S. Treasury Note
|
63
|
12/31/25
|
6,878
|
(1,651
)
|
|
|
|
|
|
588,852
|
|
Short Contracts
|
|
|
|
|
|
10-Year U.S. Treasury Note
|
136
|
12/19/25
|
15,300
|
(111,782
)
|
|
10-Year U.S. Ultra Long Treasury Note
|
147
|
12/19/25
|
16,916
|
16,751
|
|
|
|
|
|
(95,031
)
|
|
|
|
|
|
$ 493,821
|
|
Currency Purchased
|
Currency Sold
|
Counterparty
|
Settlement Date
|
Unrealized
Appreciation
(Depreciation)
|
||
|
USD
|
34,233
|
EUR
|
29,040
|
Deutsche Bank AG
|
10/16/25
|
$ 110
|
|
USD
|
82,155
|
EUR
|
69,855
|
Deutsche Bank AG
|
10/16/25
|
71
|
|
USD
|
116,198
|
EUR
|
98,812
|
Deutsche Bank AG
|
10/16/25
|
88
|
|
USD
|
118,178
|
EUR
|
99,679
|
Deutsche Bank AG
|
10/16/25
|
1,050
|
|
USD
|
121,162
|
EUR
|
103,021
|
Deutsche Bank AG
|
10/16/25
|
107
|
|
USD
|
128,170
|
EUR
|
108,982
|
Deutsche Bank AG
|
10/16/25
|
111
|
|
USD
|
215,719
|
EUR
|
183,443
|
Deutsche Bank AG
|
10/16/25
|
164
|
|
USD
|
99,482
|
CAD
|
137,000
|
Barclays Bank PLC
|
12/17/25
|
687
|
|
USD
|
8,586,118
|
EUR
|
7,261,000
|
Morgan Stanley & Co. International PLC
|
12/17/25
|
23,955
|
|
USD
|
107,204
|
EUR
|
90,000
|
Royal Bank of Canada
|
12/17/25
|
1,076
|
|
USD
|
92,144
|
EUR
|
78,000
|
State Street Bank and Trust Co.
|
12/17/25
|
167
|
|
USD
|
541,114
|
GBP
|
399,000
|
Morgan Stanley & Co. International PLC
|
12/17/25
|
4,444
|
|
|
|
|
|
|
|
32,030
|
|
USD
|
72,117
|
EUR
|
61,769
|
Citibank N.A.
|
10/16/25
|
(465
)
|
|
USD
|
121,052
|
EUR
|
103,683
|
Citibank N.A.
|
10/16/25
|
(781
)
|
|
USD
|
281,745
|
EUR
|
241,319
|
Citibank N.A.
|
10/16/25
|
(1,818
)
|
|
USD
|
114,802
|
EUR
|
98,000
|
Natwest Markets PLC
|
12/17/25
|
(759
)
|
|
USD
|
235,086
|
EUR
|
200,000
|
Natwest Markets PLC
|
12/17/25
|
(754
)
|
|
USD
|
117,674
|
EUR
|
100,000
|
State Street Bank and Trust Co.
|
12/17/25
|
(246
)
|
|
|
|
|
|
|
|
(4,823
)
|
|
|
$ 27,207
|
|||||
|
Reference Obligation/Index
|
Financing
Rate Paid
by the Trust
|
Payment
Frequency
|
Termination
Date
|
Notional
Amount (000)
|
Value
|
Upfront
Premium
Paid
(Received)
|
Unrealized
Appreciation
(Depreciation)
|
|
|
CDX.NA.HY.45.V1
|
5.00
%
|
Quarterly
|
12/20/30
|
USD
|
7,800
|
$ (613,101
)
|
$ (597,124
)
|
$ (15,977
)
|
|
CDX.NA.IG.45.V1
|
1.00
|
Quarterly
|
12/20/30
|
USD
|
16,025
|
(368,887
)
|
(367,015
)
|
(1,872
)
|
|
|
|
|
|
|
|
$ (981,988
)
|
$ (964,139
)
|
$ (17,849
)
|
|
Reference Obligation/Index
|
Financing
Rate Received
by the Trust
|
Payment
Frequency
|
Counterparty
|
Termination
Date
|
Credit
Rating(a)
|
Notional
Amount (000)(b)
|
Value
|
Upfront
Premium
Paid
(Received)
|
Unrealized
Appreciation
(Depreciation)
|
|
|
Virgin Media Finance PLC
|
5.00
%
|
Quarterly
|
JPMorgan Chase Bank N.A.
|
12/20/25
|
B-
|
EUR
|
10
|
$ 124
|
$ 184
|
$ (60
)
|
|
CMA CGM SA
|
5.00
|
Quarterly
|
Morgan Stanley & Co.
International PLC
|
06/20/27
|
BB+
|
EUR
|
20
|
1,676
|
1,779
|
(103
)
|
|
Adler Real Estate AG
|
5.00
|
Quarterly
|
Bank of America N.A.
|
12/20/27
|
CCC
|
EUR
|
5
|
356
|
(516
)
|
872
|
|
Adler Real Estate AG
|
5.00
|
Quarterly
|
Barclays Bank PLC
|
12/20/27
|
CCC
|
EUR
|
3
|
214
|
(294
)
|
508
|
|
Adler Real Estate AG
|
5.00
|
Quarterly
|
Barclays Bank PLC
|
12/20/27
|
CCC
|
EUR
|
9
|
602
|
(827
)
|
1,429
|
|
Adler Real Estate AG
|
5.00
|
Quarterly
|
Citibank N.A.
|
12/20/27
|
CCC
|
EUR
|
3
|
175
|
(246
)
|
421
|
|
Adler Real Estate AG
|
5.00
|
Quarterly
|
JPMorgan Chase Bank N.A.
|
12/20/27
|
CCC
|
EUR
|
6
|
366
|
(542
)
|
908
|
|
Adler Real Estate AG
|
5.00
|
Quarterly
|
Morgan Stanley & Co.
International PLC
|
12/20/27
|
CCC
|
EUR
|
4
|
265
|
(380
)
|
645
|
|
Faurecia SE
|
5.00
|
Quarterly
|
Barclays Bank PLC
|
06/20/29
|
BB-
|
EUR
|
13
|
1,647
|
1,308
|
339
|
|
iTraxx.XO.42.V3 20-35%
|
5.00
|
Quarterly
|
BNP Paribas SA
|
12/20/29
|
B
|
EUR
|
18
|
2,954
|
2,306
|
648
|
|
|
|
|
|
|
|
|
|
$ 8,379
|
$ 2,772
|
$ 5,607
|
|
(a)
|
Using the rating of the issuer or the underlying securities of the index, as applicable,
provided by S&P Global Ratings.
|
|
(b)
|
The maximum potential amount the Trust may pay should a negative credit event take
place as defined under the terms of the agreement.
|
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Assets
|
|
|
|
|
|
Investments
|
|
|
|
|
|
Long-Term Investments
|
|
|
|
|
|
Asset-Backed Securities
|
$ —
|
$ 65,938,444
|
$ —
|
$ 65,938,444
|
|
Common Stocks
|
—
|
—
|
10,695
|
10,695
|
|
Corporate Bonds
|
—
|
444,268,083
|
2,302,351
|
446,570,434
|
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Fixed Rate Loan Interests
|
$ —
|
$ 2,541,324
|
$ —
|
$ 2,541,324
|
|
Floating Rate Loan Interests
|
—
|
15,739,931
|
731,601
|
16,471,532
|
|
Foreign Agency Obligations
|
—
|
14,115,959
|
—
|
14,115,959
|
|
Municipal Bonds
|
—
|
32,776,173
|
—
|
32,776,173
|
|
Non-Agency Mortgage-Backed Securities
|
—
|
95,961,597
|
—
|
95,961,597
|
|
Preferred Securities
|
|
|
|
|
|
Capital Trusts
|
—
|
50,907,613
|
—
|
50,907,613
|
|
Preferred Stocks
|
—
|
166,000
|
16,471
|
182,471
|
|
Trust Preferred
|
892,519
|
—
|
—
|
892,519
|
|
U.S. Government Sponsored Agency Securities
|
—
|
119,504,719
|
—
|
119,504,719
|
|
U.S. Treasury Obligations
|
—
|
216,082,996
|
—
|
216,082,996
|
|
Short-Term Securities
|
|
|
|
|
|
Money Market Funds
|
8,165,942
|
—
|
—
|
8,165,942
|
|
U.S. Treasury Obligations
|
—
|
52,812,175
|
—
|
52,812,175
|
|
Unfunded Floating Rate Loan Interests(a)
|
—
|
630
|
—
|
630
|
|
Liabilities
|
|
|
|
|
|
Unfunded Floating Rate Loan Interests(a)
|
—
|
(7
)
|
—
|
(7
)
|
|
|
$9,058,461
|
$1,110,815,637
|
$3,061,118
|
$1,122,935,216
|
|
Derivative Financial Instruments(b)
|
|
|
|
|
|
Assets
|
|
|
|
|
|
Credit Contracts
|
$ —
|
$ 5,770
|
$ —
|
$ 5,770
|
|
Foreign Currency Exchange Contracts
|
—
|
32,030
|
—
|
32,030
|
|
Interest Rate Contracts
|
645,484
|
—
|
—
|
645,484
|
|
Liabilities
|
|
|
|
|
|
Credit Contracts
|
—
|
(18,012
)
|
—
|
(18,012
)
|
|
Foreign Currency Exchange Contracts
|
—
|
(4,823
)
|
—
|
(4,823
)
|
|
Interest Rate Contracts
|
(151,663
)
|
—
|
—
|
(151,663
)
|
|
|
$493,821
|
$14,965
|
$—
|
$508,786
|
|
(a)
|
Unfunded floating rate loan interests are valued at the unrealized appreciation (depreciation)
on the commitment.
|
|
(b)
|
Derivative financial instruments are swaps, futures contracts and forward foreign
currency exchange contracts. Swaps, futures contracts and forward foreign currency
exchange
contracts are valued at the unrealized appreciation (depreciation) on the instrument.
|
|
Currency Abbreviation
|
|
|
CAD
|
Canadian Dollar
|
|
EUR
|
Euro
|
|
GBP
|
British Pound
|
|
USD
|
United States Dollar
|
|
Portfolio Abbreviation
|
|
|
BAB
|
Build America Bond
|
|
BAM
|
Build America Mutual Assurance Co.
|
|
CLO
|
Collateralized Loan Obligation
|
|
CME
|
Chicago Mercantile Exchange
|
|
CMT
|
Constant Maturity Treasury
|
|
DAC
|
Designated Activity Company
|
|
EURIBOR
|
Euro Interbank Offered Rate
|
|
GMTN
|
Global Medium-Term Note
|
|
GO
|
General Obligation Bonds
|
|
Portfolio Abbreviation (continued)
|
|
|
PIK
|
Payment-in-Kind
|
|
RB
|
Revenue Bonds
|
|
REIT
|
Real Estate Investment Trust
|
|
SAB
|
Special Assessment Bonds
|
|
SAP
|
Subject to Appropriations
|
|
SG
|
Syncora Guarantee
|
|
SOFR
|
Secured Overnight Financing Rate
|