|
2026 Quarterly Report
(Unaudited)
|
|
BlackRock Corporate High Yield Fund, Inc. (HYT)
|
|
Not FDIC Insured • May Lose Value • No Bank Guarantee
|
|
Security
|
|
Par
(000)
|
Value
|
|
Asset-Backed Securities
|
|||
|
Arcano Euro CLO II DAC, Series 2X, Class D, (3-mo.
EURIBOR + 3.30%), 5.33%, 07/25/39(a)(b)
|
EUR
|
100
|
$ 115,020
|
|
Arini European CLO V DAC, Series 5X, Class D, (3-mo.
EURIBOR + 2.80%), 4.82%, 01/15/39(a)(b)
|
|
100
|
113,098
|
|
Aurium CLO VII DAC, Series 7X, Class DR, (3-mo.
EURIBOR + 3.15%), 5.28%, 10/15/38(a)(b)
|
|
100
|
113,678
|
|
Aurium CLO XIII DAC, Series 13X, Class D, (3-mo.
EURIBOR + 2.80%), 4.82%, 04/15/38(a)(b)
|
|
100
|
112,920
|
|
Avoca CLO XVIII DAC, Series 18X, Class DR, (3-mo.
EURIBOR + 3.05%), 5.07%, 01/15/38(a)(b)
|
|
110
|
125,280
|
|
CIFC European Funding CLO I DAC, Series 1X,
Class DR, (3-mo. EURIBOR + 3.20%), 5.22%,
07/15/32(a)(b)
|
|
100
|
115,535
|
|
CIFC European Funding CLO II DAC, Series 2X,
Class DR, (3-mo. EURIBOR + 3.00%), 5.02%,
10/15/39(a)(b)
|
|
100
|
114,713
|
|
Contego CLO V DAC, Series 5X, Class DR, (3-mo.
EURIBOR + 3.10%), 5.12%, 10/15/37(a)(b)
|
|
100
|
114,660
|
|
CVC Cordatus Loan Fund XXII DAC, Series 22X,
Class D, (3-mo. EURIBOR + 3.15%), 5.30%,
12/15/34(a)(b)
|
|
100
|
114,660
|
|
Fidelity Grand Harbour CLO DAC, Series 2023-1X,
Class DR, (3-mo. EURIBOR + 2.70%), 4.68%,
02/15/38(a)(b)
|
|
100
|
112,103
|
|
Greene King Finance PLC(b)
|
|
|
|
|
Series 06, Class B2, (1-day SONIA GBP 2.20%),
5.94%, 03/15/36(a)
|
GBP
|
100
|
121,949
|
|
Series B1, (1-day SONIA GBP 1.92%), 5.66%,
12/15/34
|
|
100
|
122,707
|
|
Hambridge Euro CLO 1 DAC, Series 1X, Class D, (3-
mo. EURIBOR + 3.30%), 5.34%, 10/20/38(a)(b)
|
EUR
|
100
|
115,256
|
|
Henley CLO XI DAC, Series 11X, Class D, (3-mo.
EURIBOR + 2.60%), 4.63%, 04/25/39(a)(b)
|
|
100
|
111,541
|
|
Rockfield Park CLO DAC, Series 1X, Class C, (3-mo.
EURIBOR + 3.00%), 5.02%, 07/16/34(a)(b)
|
|
100
|
114,882
|
|
Rockford Tower Europe CLO DAC, Series 2025-1X,
Class D, (3-mo. EURIBOR + 3.00%), 5.03%,
10/25/37(a)(b)
|
|
100
|
114,758
|
|
Signal Harmonic CLO I DAC, Series 1X, Class DR, (3-
mo. EURIBOR + 3.50%), 5.52%, 07/15/38(a)(b)
|
|
100
|
113,962
|
|
Silver Point Euro CLO 1 DAC, Series 1X, Class D, (3-
mo. EURIBOR + 3.00%), 5.10%, 01/15/39(a)(b)
|
|
100
|
114,736
|
|
Sona Fios CLO III DAC, Series 3X, Class D, (3-mo.
EURIBOR + 3.25%), 5.28%, 04/20/37(a)(b)
|
|
110
|
126,508
|
|
Sona Fios CLO V DAC, Series 5X, Class D, (3-mo.
EURIBOR + 3.30%), 5.33%, 08/25/38(a)(b)
|
|
100
|
115,264
|
|
Unique Pub Finance Co. PLC, Series 02, Class N,
6.46%, 03/30/32(a)
|
GBP
|
96
|
130,003
|
|
Total Asset-Backed Securities — 0.1%
(Cost: $2,356,645)
|
2,453,233
|
||
|
|
|
Shares
|
|
|
Common Stocks
|
|||
|
Capital Markets — 0.0%
|
|
||
|
New Kleo Holdco(c)(d)
|
|
8,082
|
12,144
|
|
Security
|
|
Shares
|
Value
|
|
Food Products — 0.0%
|
|
||
|
Lamb Weston Holdings, Inc.
|
|
26,401
|
$ 1,115,706
|
|
Health Care Equipment & Supplies — 0.0%
|
|
||
|
Medline, Inc., Class A(d)
|
|
6,612
|
294,234
|
|
Health Care Providers & Services — 0.0%
|
|
||
|
Quorum Restructuring Equity(c)(d)
|
|
19,441
|
9,721
|
|
Life Sciences Tools & Services — 0.1%
|
|
||
|
IQVIA Holdings, Inc.(d)
|
|
7,852
|
1,339,080
|
|
Machinery — 0.0%
|
|
||
|
United Site Services, Inc.(c)(d)
|
|
27,796
|
201,521
|
|
Metals & Mining — 0.2%
|
|
||
|
Constellium SE, Class A(d)
|
|
119,181
|
2,929,469
|
|
Oil, Gas & Consumable Fuels — 0.4%
|
|
||
|
Energy Transfer LP
|
|
273,894
|
5,286,154
|
|
Enterprise Products Partners LP
|
|
48,797
|
1,846,479
|
|
|
|
|
7,132,633
|
|
Real Estate Management & Development — 0.0%
|
|
||
|
ADLER Group SA, VTG Shares(c)(d)
|
|
83,768
|
1
|
|
Semiconductors & Semiconductor Equipment — 0.0%
|
|
||
|
Maxeon Solar Technologies Ltd.(d)
|
|
1
|
2
|
|
Specialized REITs — 0.3%
|
|
||
|
VICI Properties, Inc.
|
|
182,425
|
4,983,851
|
|
Wireless Telecommunication Services — 0.0%
|
|
||
|
Altice France Lux 3(d)
|
|
56,189
|
935,223
|
|
Total Common Stocks — 1.0%
(Cost: $17,043,989)
|
18,953,585
|
||
|
|
|
Par
(000)
|
|
|
Corporate Bonds
|
|||
|
Advertising Agencies — 2.6%
|
|||
|
Clear Channel Outdoor Holdings, Inc.(e)
|
|
|
|
|
7.75%, 04/15/28
|
USD
|
1,262
|
1,267,988
|
|
7.50%, 06/01/29
|
|
10,414
|
10,457,947
|
|
7.88%, 04/01/30
|
|
9,145
|
9,570,270
|
|
7.13%, 02/15/31
|
|
4,379
|
4,587,858
|
|
7.50%, 03/15/33
|
|
6,539
|
6,924,788
|
|
CMG Media Corp., 8.88%, 06/18/29(e)
|
|
1,123
|
971,022
|
|
Lamar Media Corp., 5.38%, 11/01/33(e)
|
|
1,138
|
1,113,788
|
|
Neptune Bidco U.S., Inc.(e)
|
|
|
|
|
9.29%, 04/15/29
|
|
1,889
|
1,894,248
|
|
10.38%, 05/15/31
|
|
1,185
|
1,195,674
|
|
9.50%, 02/15/33
|
|
2,547
|
2,471,199
|
|
Outfront Media Capital LLC/Outfront Media Capital
Corp.(e)
|
|
|
|
|
5.00%, 08/15/27
|
|
500
|
498,821
|
|
4.25%, 01/15/29
|
|
910
|
877,240
|
|
4.63%, 03/15/30
|
|
2,301
|
2,220,065
|
|
7.38%, 02/15/31
|
|
1,741
|
1,815,363
|
|
Stagwell Global LLC, 5.63%, 08/15/29(e)
|
|
553
|
526,485
|
|
Summer BC Holdco B SARL, 5.88%, 02/15/30(a)
|
EUR
|
100
|
99,422
|
|
|
|
|
46,492,178
|
|
Aerospace & Defense — 3.6%
|
|||
|
AAR Escrow Issuer LLC, 6.75%, 03/15/29(e)
|
USD
|
469
|
477,349
|
|
Security
|
|
Par
(000)
|
Value
|
|
Aerospace & Defense (continued)
|
|||
|
ATI, Inc.
|
|
|
|
|
5.88%, 12/01/27
|
USD
|
886
|
$ 885,829
|
|
7.25%, 08/15/30
|
|
2,612
|
2,708,563
|
|
5.13%, 10/01/31
|
|
1,855
|
1,832,702
|
|
Bombardier, Inc.(e)
|
|
|
|
|
8.75%, 11/15/30
|
|
712
|
757,242
|
|
7.25%, 07/01/31
|
|
186
|
194,913
|
|
7.00%, 06/01/32
|
|
2,123
|
2,203,339
|
|
6.75%, 06/15/33
|
|
2,770
|
2,860,601
|
|
Efesto Bidco SpA Efesto U.S. LLC, Series XR, 7.50%,
02/15/32(e)
|
|
8,840
|
8,795,191
|
|
Goat Holdco LLC, 6.75%, 02/01/32(e)
|
|
945
|
950,792
|
|
Moog, Inc.(e)
|
|
|
|
|
4.25%, 12/15/27
|
|
111
|
110,935
|
|
5.50%, 10/15/34
|
|
773
|
775,428
|
|
TransDigm, Inc.(e)
|
|
|
|
|
6.63%, 03/01/32
|
|
13,051
|
13,310,323
|
|
6.00%, 01/15/33
|
|
125
|
124,930
|
|
6.38%, 05/31/33
|
|
10,715
|
10,657,871
|
|
6.25%, 01/31/34
|
|
1,066
|
1,077,759
|
|
6.75%, 01/31/34
|
|
9,530
|
9,654,891
|
|
6.13%, 07/31/34
|
|
7,358
|
7,236,905
|
|
|
|
|
64,615,563
|
|
Air Freight & Logistics(e) — 0.1%
|
|||
|
Rand Parent LLC, 8.50%, 02/15/30
|
|
1,223
|
1,255,440
|
|
Stonepeak Nile Parent LLC, 7.25%, 03/15/32
|
|
423
|
439,961
|
|
|
|
|
1,695,401
|
|
Automobile Components — 1.7%
|
|||
|
American Axle & Manufacturing, Inc.(e)
|
|
|
|
|
6.38%, 10/15/32
|
|
820
|
811,589
|
|
7.75%, 10/15/33
|
|
857
|
834,288
|
|
Clarios Global LP/Clarios U.S. Finance Co.
|
|
|
|
|
6.75%, 05/15/28(e)
|
|
7,384
|
7,455,854
|
|
6.75%, 02/15/30(e)
|
|
3,708
|
3,791,430
|
|
4.75%, 06/15/31(e)
|
EUR
|
2,277
|
2,584,151
|
|
4.75%, 06/15/31(a)
|
|
110
|
124,838
|
|
6.75%, 09/15/32(e)
|
USD
|
4,802
|
4,840,416
|
|
Cyprium Corp./Cyprium Holdings Luxembourg SARL,
6.13%, 04/15/31(e)
|
|
1,242
|
1,224,385
|
|
Dana, Inc.
|
|
|
|
|
4.25%, 09/01/30
|
|
242
|
228,945
|
|
4.50%, 02/15/32
|
|
395
|
368,615
|
|
Forvia SE, 5.50%, 06/15/31(a)
|
EUR
|
115
|
131,606
|
|
Garrett Motion Holdings, Inc./Garrett LX I SARL, 7.75%,
05/31/32(e)
|
USD
|
1,354
|
1,401,966
|
|
Goodyear Tire & Rubber Co., 6.63%, 07/15/30
|
|
653
|
638,555
|
|
IHO Verwaltungs GmbH(a)(f)
|
|
|
|
|
(7.00% Cash or 7.75% PIK), 7.00%, 11/15/31
|
EUR
|
100
|
120,845
|
|
(8.75% Cash or 9.50% PIK), 8.75%, 05/15/28
|
|
116
|
137,223
|
|
Mahle GmbH, 6.50%, 05/02/31(a)
|
|
206
|
240,758
|
|
Qnity Electronics, Inc.(e)
|
|
|
|
|
5.75%, 08/15/32
|
USD
|
1,533
|
1,534,826
|
|
6.25%, 08/15/33
|
|
1,190
|
1,203,253
|
|
Schaeffler AG(a)
|
|
|
|
|
4.25%, 04/01/28
|
EUR
|
100
|
114,232
|
|
5.38%, 04/01/31
|
|
100
|
116,854
|
|
Tenneco, Inc., 8.00%, 11/17/28(e)
|
USD
|
2,029
|
2,021,784
|
|
ZF Europe Finance BV(a)
|
|
|
|
|
7.00%, 06/12/30
|
EUR
|
300
|
353,715
|
|
Security
|
|
Par
(000)
|
Value
|
|
Automobile Components (continued)
|
|||
|
ZF Europe Finance BV(a) (continued)
|
|
|
|
|
5.50%, 02/17/32
|
EUR
|
100
|
$ 109,047
|
|
ZF North America Capital, Inc., 7.50%, 03/24/31(a)
|
USD
|
150
|
147,347
|
|
|
|
|
30,536,522
|
|
Automobiles — 1.7%
|
|||
|
Allison Transmission, Inc., 5.88%, 12/01/33(e)
|
|
837
|
831,869
|
|
Asbury Automotive Group, Inc., 5.00%, 02/15/32(e)
|
|
306
|
289,786
|
|
Aston Martin Capital Holdings Ltd., 10.38%, 03/31/29(a)
|
GBP
|
104
|
105,636
|
|
Carvana Co.(e)(f)
|
|
|
|
|
(11.00% Cash or 13.00% PIK), 9.00%, 06/01/30
|
USD
|
3,641
|
3,787,770
|
|
(9.00% PIK), 9.00%, 06/01/31
|
|
7,205
|
7,790,500
|
|
Cougar JV Subsidiary LLC, 8.00%, 05/15/32(e)
|
|
1,059
|
1,095,063
|
|
Global Auto Holdings Ltd./AAG FH U.K. Ltd., 11.50%,
08/15/29(e)
|
|
639
|
635,749
|
|
Group 1 Automotive, Inc., 6.38%, 01/15/30(e)
|
|
775
|
780,199
|
|
Ken Garff Automotive LLC, 4.88%, 09/15/28(e)
|
|
381
|
374,272
|
|
LCM Investments Holdings II LLC(e)
|
|
|
|
|
4.88%, 05/01/29
|
|
542
|
527,424
|
|
8.25%, 08/01/31
|
|
1,197
|
1,243,378
|
|
Lithia Motors, Inc., 5.50%, 10/01/30(e)
|
|
948
|
928,974
|
|
Nissan Motor Acceptance Co. LLC, 6.13%, 09/30/30(e)
|
|
3,231
|
3,105,123
|
|
Nissan Motor Co. Ltd.
|
|
|
|
|
5.25%, 07/17/29(a)
|
EUR
|
109
|
124,714
|
|
7.75%, 07/17/32(e)
|
USD
|
729
|
738,182
|
|
6.38%, 07/17/33(e)
|
EUR
|
795
|
914,248
|
|
6.38%, 07/17/33(a)
|
|
100
|
115,000
|
|
8.13%, 07/17/35(e)
|
USD
|
5,554
|
5,714,185
|
|
RCI Banque SA(a)
|
|
|
|
|
4.25%, 05/23/34
|
EUR
|
200
|
227,362
|
|
(5-year EURIBOR ICE Swap + 2.20%), 4.75%,
03/24/37(b)
|
|
100
|
111,877
|
|
(5-year EURIBOR ICE Swap + 2.75%), 5.50%,
10/09/34(b)
|
|
100
|
117,153
|
|
Renault SA, 3.88%, 09/30/30(a)
|
|
100
|
113,547
|
|
Rivian Holdings LLC/Rivian LLC/Rivian Automotive LLC,
10.00%, 01/15/31(e)
|
USD
|
1,269
|
1,233,056
|
|
|
|
|
30,905,067
|
|
Banks — 0.6%
|
|||
|
Abanca Corp. Bancaria SA, (5-year EURIBOR ICE
Swap + 2.45%), 4.63%, 12/11/36(a)(b)
|
EUR
|
100
|
115,607
|
|
Banca Monte dei Paschi di Siena SpA, (5-year
EURIBOR ICE Swap + 2.15%), 4.38%, 10/02/35(a)(b)
|
|
200
|
229,466
|
|
Banco Bilbao Vizcaya Argentaria SA, (5-year EUR Swap
+ 4.27%), 6.88%(a)(b)(g)
|
|
200
|
241,726
|
|
Banco Espirito Santo SA(d)(h)
|
|
|
|
|
4.75%, 01/15/22(b)
|
|
1,900
|
483,145
|
|
4.00%, 01/21/22
|
|
1,100
|
279,716
|
|
CaixaBank SA, (5-year EURIBOR ICE Swap + 3.94%),
6.25%(a)(b)(g)
|
|
200
|
235,193
|
|
Eurobank SA, (5-year EURIBOR ICE Swap + 2.00%),
4.25%, 04/30/35(a)(b)
|
|
100
|
113,022
|
|
First-Citizens Bank & Trust Co., Series A, 6.00%,
04/01/36
|
USD
|
3,261
|
3,265,560
|
|
National Bank of Greece SA, (5-year EURIBOR ICE
Swap + 3.15%), 5.88%, 06/28/35(a)(b)
|
EUR
|
175
|
211,542
|
|
Toronto-Dominion Bank, (5-year CMT + 2.98%), 7.25%,
07/31/84(b)
|
USD
|
2,605
|
2,649,858
|
|
Walker & Dunlop, Inc., 6.63%, 04/01/33(e)
|
|
2,203
|
2,153,831
|
|
|
|
|
9,978,666
|
|
Security
|
|
Par
(000)
|
Value
|
|
Biotechnology(e) — 0.4%
|
|||
|
BioMarin Pharmaceutical, Inc., 5.50%, 02/15/34
|
USD
|
2,126
|
$ 2,093,167
|
|
Genmab AS/Genmab Finance LLC
|
|
|
|
|
6.25%, 12/15/32
|
|
1,398
|
1,433,274
|
|
7.25%, 12/15/33
|
|
3,043
|
3,185,203
|
|
|
|
|
6,711,644
|
|
Building Materials — 2.8%
|
|||
|
AmeriTex HoldCo Intermediate LLC, 7.63%, 08/15/33(e)
|
|
1,222
|
1,261,406
|
|
Builders FirstSource, Inc.(e)
|
|
|
|
|
6.38%, 03/01/34
|
|
819
|
808,531
|
|
6.75%, 05/15/35
|
|
3,239
|
3,235,896
|
|
EMRLD Borrower LP/Emerald Co-Issuer, Inc.
|
|
|
|
|
6.38%, 12/15/30(a)
|
EUR
|
200
|
235,302
|
|
6.63%, 12/15/30(e)
|
USD
|
12,172
|
12,379,642
|
|
6.75%, 07/15/31(e)
|
|
850
|
874,188
|
|
HT Troplast GmbH, 9.38%, 07/15/28(a)
|
EUR
|
124
|
145,095
|
|
Jeld-Wen, Inc.(e)
|
|
|
|
|
4.88%, 12/15/27
|
USD
|
2,376
|
1,611,005
|
|
7.00%, 09/01/32
|
|
359
|
167,371
|
|
New Enterprise Stone & Lime Co., Inc.(e)
|
|
|
|
|
5.25%, 07/15/28
|
|
435
|
428,560
|
|
9.75%, 07/15/28
|
|
1,074
|
1,072,913
|
|
Quikrete Holdings, Inc.(e)
|
|
|
|
|
6.38%, 03/01/32
|
|
8,748
|
8,870,498
|
|
6.75%, 03/01/33
|
|
2,553
|
2,592,929
|
|
Smyrna Ready Mix Concrete LLC, 6.00%, 11/01/28(e)
|
|
2,209
|
2,192,340
|
|
Standard Building Solutions, Inc.(e)
|
|
|
|
|
6.50%, 08/15/32
|
|
2,288
|
2,289,183
|
|
6.25%, 08/01/33
|
|
3,879
|
3,835,382
|
|
5.88%, 03/15/34
|
|
1,964
|
1,893,667
|
|
Standard Industries, Inc., 3.38%, 01/15/31(e)
|
|
6,042
|
5,415,846
|
|
Wilsonart LLC, 11.00%, 08/15/32(e)
|
|
1,810
|
1,312,036
|
|
|
|
|
50,621,790
|
|
Building Products(e) — 1.1%
|
|||
|
QXO Building Products, Inc., 6.75%, 04/30/32
|
|
7,352
|
7,498,974
|
|
White Cap Supply Holdings LLC, 7.38%, 11/15/30
|
|
11,870
|
11,513,814
|
|
|
|
|
19,012,788
|
|
Capital Markets — 1.4%
|
|||
|
Apollo Debt Solutions BDC
|
|
|
|
|
5.88%, 08/30/30
|
|
894
|
879,935
|
|
6.70%, 07/29/31
|
|
296
|
299,457
|
|
6.55%, 03/15/32
|
|
1,194
|
1,198,579
|
|
ARES Strategic Income Fund, 5.80%, 09/09/30(e)
|
|
1,005
|
977,250
|
|
Bain Capital Specialty Finance, Inc., 5.95%, 03/15/30
|
|
315
|
304,968
|
|
Blue Owl Capital Corp., 6.20%, 07/15/30
|
|
955
|
941,199
|
|
Compass Group Diversified Holdings LLC, 5.25%,
04/15/29(e)
|
|
1,162
|
1,080,789
|
|
Focus Financial Partners LLC, 6.75%, 09/15/31(e)
|
|
1,412
|
1,402,323
|
|
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
|
|
|
|
|
5.25%, 05/15/27
|
|
5,665
|
5,551,175
|
|
9.75%, 01/15/29
|
|
876
|
861,242
|
|
4.38%, 02/01/29
|
|
1,179
|
1,006,112
|
|
10.00%, 11/15/29(e)
|
|
2,228
|
2,194,910
|
|
Jane Street Group/JSG Finance, Inc.(e)
|
|
|
|
|
6.13%, 11/01/32
|
|
416
|
411,378
|
|
6.75%, 05/01/33
|
|
2,784
|
2,824,557
|
|
Lehman Brothers Holdings, Inc.(d)(h)
|
|
|
|
|
5.38%, 10/17/17
|
EUR
|
350
|
1,092
|
|
Security
|
|
Par
(000)
|
Value
|
|
Capital Markets (continued)
|
|||
|
Lehman Brothers Holdings, Inc.(d)(h) (continued)
|
|
|
|
|
Series 1937, 4.75%, 01/16/18
|
EUR
|
1,890
|
$ 5,898
|
|
Osaic Holdings, Inc.(e)
|
|
|
|
|
6.75%, 08/01/32
|
USD
|
2,424
|
2,424,303
|
|
8.00%, 08/01/33
|
|
3,551
|
3,505,555
|
|
|
|
|
25,870,722
|
|
Chemicals — 3.6%
|
|||
|
Advancion Sciences, Inc., (9.25% Cash or 10.00% PIK),
9.25%, 11/01/26(e)(f)
|
|
1,720
|
1,397,846
|
|
Celanese U.S. Holdings LLC
|
|
|
|
|
7.00%, 02/15/31
|
|
133
|
136,564
|
|
6.75%, 04/15/33
|
|
990
|
1,015,703
|
|
7.38%, 02/15/34
|
|
1,815
|
1,859,511
|
|
Chemours Co.(e)
|
|
|
|
|
5.75%, 11/15/28
|
|
4,749
|
4,702,101
|
|
4.63%, 11/15/29
|
|
2,162
|
2,027,427
|
|
7.88%, 03/15/34
|
|
1,247
|
1,246,637
|
|
Consolidated Energy Finance SA, 5.63%, 10/15/28(e)
|
|
450
|
419,063
|
|
FMC Corp.
|
|
|
|
|
3.45%, 10/01/29
|
|
1,039
|
928,081
|
|
4.50%, 10/01/49
|
|
355
|
219,681
|
|
6.38%, 05/18/53
|
|
253
|
190,627
|
|
Herens Holdco SARL, 4.75%, 05/15/28(e)
|
|
2,279
|
1,915,272
|
|
Ingevity Corp., 3.88%, 11/01/28(e)
|
|
494
|
474,215
|
|
Inversion Escrow Issuer LLC, 6.75%, 08/01/32(e)
|
|
4,111
|
3,915,002
|
|
Itelyum Regeneration SpA, 5.75%, 04/15/30(a)
|
EUR
|
100
|
114,012
|
|
Kronos International, Inc., 9.50%, 03/15/29(a)
|
|
270
|
268,105
|
|
Lune Holdings SARL, 5.63%, 11/15/28(a)
|
|
125
|
3,087
|
|
Methanex U.S. Operations, Inc., 6.25%, 03/15/32(e)
|
USD
|
775
|
792,876
|
|
Olympus Water U.S. Holding Corp.
|
|
|
|
|
5.38%, 10/01/29(a)
|
EUR
|
100
|
106,738
|
|
6.25%, 10/01/29(e)
|
USD
|
400
|
378,017
|
|
7.25%, 06/15/31(e)
|
|
3,149
|
3,075,637
|
|
6.13%, 02/15/33(a)
|
EUR
|
100
|
111,101
|
|
7.25%, 02/15/33(e)
|
USD
|
10,208
|
9,739,465
|
|
Perimeter Holdings LLC, 6.25%, 01/15/34(e)
|
|
4,795
|
4,702,698
|
|
SK Invictus Intermediate II SARL, 5.00%, 10/30/29(e)
|
|
3,950
|
3,852,708
|
|
Solstice Advanced Materials, Inc., 5.63%, 09/30/33(e)
|
|
3,215
|
3,170,126
|
|
WR Grace Holdings LLC(e)
|
|
|
|
|
5.63%, 08/15/29
|
|
9,656
|
8,880,811
|
|
7.38%, 03/01/31
|
|
4,278
|
4,289,037
|
|
6.63%, 08/15/32
|
|
2,861
|
2,787,631
|
|
7.00%, 08/01/33
|
|
1,600
|
1,553,880
|
|
|
|
|
64,273,659
|
|
Commercial Services & Supplies — 7.1%
|
|||
|
ADT Security Corp.(e)
|
|
|
|
|
4.88%, 07/15/32
|
|
617
|
576,327
|
|
5.88%, 10/15/33
|
|
3,440
|
3,331,673
|
|
Albion Financing 1 SARL/Aggreko Holdings, Inc.
|
|
|
|
|
5.38%, 05/21/30(a)
|
EUR
|
100
|
115,840
|
|
7.00%, 05/21/30(e)
|
USD
|
3,437
|
3,512,741
|
|
Allied Universal Holdco LLC, 7.88%, 02/15/31(e)
|
|
13,782
|
14,212,205
|
|
Allied Universal Holdco LLC/Allied Universal Finance
Corp.(e)
|
|
|
|
|
6.00%, 06/01/29
|
|
9,600
|
9,276,257
|
|
6.88%, 06/15/30
|
|
5,705
|
5,783,056
|
|
Security
|
|
Par
(000)
|
Value
|
|
Commercial Services & Supplies (continued)
|
|||
|
Allied Universal Holdco LLC/Allied Universal Finance
Corp./Atlas Luxco 4 SARL
|
|
|
|
|
4.63%, 06/01/28(e)
|
USD
|
5,240
|
$ 5,118,796
|
|
4.88%, 06/01/28(a)
|
GBP
|
300
|
384,267
|
|
Amber Finco PLC, 6.63%, 07/15/29(a)
|
EUR
|
165
|
195,708
|
|
APCOA Group GmbH, 6.00%, 04/15/31(a)
|
|
150
|
169,798
|
|
APi Group DE, Inc., 4.75%, 10/15/29(e)
|
USD
|
1,283
|
1,241,795
|
|
Arena Luxembourg Finance SARL, (3-mo. EURIBOR +
2.50%), 4.52%, 05/01/30(a)(b)
|
EUR
|
100
|
115,250
|
|
BCP V Modular Services Finance II PLC(a)
|
|
|
|
|
4.75%, 11/30/28
|
|
200
|
217,467
|
|
6.13%, 11/30/28
|
GBP
|
100
|
123,740
|
|
6.50%, 07/10/31
|
EUR
|
100
|
98,208
|
|
Boels Topholding BV(a)
|
|
|
|
|
6.25%, 02/15/29
|
|
107
|
126,328
|
|
5.75%, 05/15/30
|
|
100
|
116,131
|
|
Brink’s Co., 6.75%, 06/15/32(e)
|
USD
|
724
|
732,844
|
|
Clarivate Science Holdings Corp., 4.88%, 07/01/29(e)
|
|
4,464
|
3,873,351
|
|
CompoSecure Holdings LLC, 5.63%, 02/01/33(e)
|
|
5,337
|
5,213,982
|
|
Deluxe Corp., 8.13%, 09/15/29(e)
|
|
639
|
663,336
|
|
EC Finance PLC, 3.25%, 10/15/26(a)
|
EUR
|
109
|
123,479
|
|
FTAI Aviation Investors LLC(e)
|
|
|
|
|
5.50%, 05/01/28
|
USD
|
7,257
|
7,254,436
|
|
7.88%, 12/01/30
|
|
3,338
|
3,485,523
|
|
7.00%, 05/01/31
|
|
6,768
|
6,938,080
|
|
7.00%, 06/15/32
|
|
2,193
|
2,248,079
|
|
5.88%, 04/15/33
|
|
1,813
|
1,773,818
|
|
Garda World Security Corp.(e)
|
|
|
|
|
7.75%, 02/15/28
|
|
2,366
|
2,406,854
|
|
6.00%, 06/01/29
|
|
302
|
287,451
|
|
8.25%, 08/01/32
|
|
3,627
|
3,589,039
|
|
8.38%, 11/15/32
|
|
11,640
|
11,647,904
|
|
Herc Holdings, Inc.(e)
|
|
|
|
|
7.00%, 06/15/30
|
|
3,548
|
3,638,009
|
|
5.75%, 03/15/31
|
|
779
|
767,211
|
|
7.25%, 06/15/33
|
|
1,334
|
1,367,006
|
|
6.00%, 03/15/34
|
|
905
|
874,908
|
|
Kapla Holding SAS(a)
|
|
|
|
|
5.00%, 04/30/31
|
EUR
|
100
|
113,655
|
|
(3-mo. EURIBOR + 3.50%), 5.65%, 07/31/30(b)
|
|
100
|
115,145
|
|
La Financiere Atalian SAS, (3.50% Cash and 5.00%
PIK), 8.50%, 06/30/28(f)
|
|
155
|
30,617
|
|
Loxam SAS(a)
|
|
|
|
|
6.38%, 05/15/28
|
|
115
|
135,161
|
|
6.38%, 05/31/29
|
|
91
|
107,788
|
|
4.25%, 02/15/31
|
|
100
|
112,162
|
|
Pachelbel Bidco SpA(a)
|
|
|
|
|
7.13%, 05/17/31
|
|
100
|
115,633
|
|
(3-mo. EURIBOR + 4.25%), 6.28%, 05/17/31(b)
|
|
100
|
115,100
|
|
RR Donnelley & Sons Co., 9.50%, 08/01/29(e)
|
USD
|
4,335
|
4,387,904
|
|
Sotheby’s, 7.38%, 10/15/27(e)
|
|
6,851
|
6,818,181
|
|
Sotheby’s/Bidfair Holdings, Inc., 5.88%, 06/01/29(e)
|
|
978
|
918,203
|
|
United Rentals North America, Inc., 5.38%, 11/15/33(e)
|
|
3,632
|
3,531,683
|
|
Verisure Holding AB, 7.13%, 02/01/28(a)
|
EUR
|
100
|
117,542
|
|
Veritiv Operating Co., 10.50%, 11/30/30(e)
|
USD
|
819
|
851,144
|
|
Wand NewCo 3, Inc., 7.63%, 01/30/32(e)
|
|
2,793
|
2,855,834
|
|
Williams Scotsman, Inc.(e)
|
|
|
|
|
6.63%, 06/15/29
|
|
200
|
202,249
|
|
Security
|
|
Par
(000)
|
Value
|
|
Commercial Services & Supplies (continued)
|
|||
|
Williams Scotsman, Inc.(e) (continued)
|
|
|
|
|
6.63%, 04/15/30
|
USD
|
1,207
|
$ 1,226,057
|
|
7.38%, 10/01/31
|
|
4,405
|
4,516,790
|
|
|
|
|
127,871,745
|
|
Communications Equipment — 0.0%
|
|||
|
Viavi Solutions, Inc., 3.75%, 10/01/29(e)
|
|
528
|
495,386
|
|
Construction & Engineering — 0.5%
|
|||
|
AECOM, 6.00%, 08/01/33(e)
|
|
3,570
|
3,566,078
|
|
Arcosa, Inc., 6.88%, 08/15/32(e)
|
|
144
|
147,549
|
|
Brand Industrial Services, Inc., 10.38%, 08/01/30(e)
|
|
4,295
|
3,925,255
|
|
Heathrow Finance PLC, 6.63%, 03/01/31(a)
|
GBP
|
100
|
131,270
|
|
Weekley Homes LLC/Weekley Finance Corp., 6.75%,
01/15/34(e)
|
USD
|
884
|
846,648
|
|
|
|
|
8,616,800
|
|
Consumer Finance — 1.9%
|
|||
|
Block, Inc.(e)
|
|
|
|
|
5.63%, 08/15/30
|
|
1,889
|
1,878,562
|
|
6.00%, 08/15/33
|
|
4,591
|
4,515,173
|
|
ION Platform Finance SARL(a)
|
|
|
|
|
7.88%, 05/01/29
|
EUR
|
237
|
254,501
|
|
6.50%, 09/30/30
|
|
100
|
95,794
|
|
ION Platform Finance U.S., Inc., 7.88%, 09/30/32(e)
|
USD
|
2,172
|
1,681,184
|
|
Navient Corp.
|
|
|
|
|
9.38%, 07/25/30
|
|
37
|
36,069
|
|
7.88%, 06/15/32
|
|
742
|
661,528
|
|
OneMain Finance Corp.
|
|
|
|
|
6.63%, 05/15/29
|
|
996
|
996,967
|
|
5.38%, 11/15/29
|
|
1,200
|
1,157,176
|
|
7.88%, 03/15/30
|
|
1,538
|
1,587,181
|
|
6.13%, 05/15/30
|
|
1,803
|
1,763,047
|
|
4.00%, 09/15/30
|
|
451
|
407,290
|
|
7.50%, 05/15/31
|
|
320
|
321,709
|
|
7.13%, 11/15/31
|
|
426
|
422,079
|
|
6.75%, 03/15/32
|
|
1,693
|
1,642,612
|
|
7.13%, 09/15/32
|
|
830
|
817,431
|
|
6.50%, 03/15/33
|
|
4,381
|
4,187,912
|
|
6.75%, 09/15/33
|
|
3,215
|
3,082,711
|
|
Shift4 Payments LLC/Shift4 Payments Finance Sub,
Inc., 5.50%, 05/15/33(a)
|
EUR
|
200
|
217,937
|
|
Shift4 Payments, Inc.(e)
|
|
|
|
|
6.75%, 08/15/32
|
USD
|
3,465
|
3,407,291
|
|
5.50%, 05/15/33
|
EUR
|
1,445
|
1,574,595
|
|
WEX, Inc., 6.50%, 03/15/33(e)
|
USD
|
3,140
|
3,075,856
|
|
Worldline SA(a)
|
|
|
|
|
0.00%, 07/30/26(i)(j)
|
EUR
|
10
|
11,580
|
|
0.88%, 06/30/27
|
|
100
|
108,330
|
|
|
|
|
33,904,515
|
|
Consumer Staples Distribution & Retail — 1.0%
|
|||
|
Albertsons Cos, Inc.(e)
|
|
|
|
|
5.50%, 03/31/31
|
USD
|
1,217
|
1,203,214
|
|
6.25%, 03/15/33
|
|
749
|
754,022
|
|
5.75%, 03/31/34
|
|
3,990
|
3,903,602
|
|
Albertsons Cos., Inc., 5.63%, 03/31/32(e)
|
|
1,491
|
1,467,914
|
|
B&M European Value Retail SA, 6.50%, 11/27/31(a)
|
GBP
|
100
|
125,045
|
|
Bellis Acquisition Co. PLC, 8.13%, 05/14/30(a)
|
|
128
|
156,235
|
|
Security
|
|
Par
(000)
|
Value
|
|
Consumer Staples Distribution & Retail (continued)
|
|||
|
Boots Group Finco LP
|
|
|
|
|
5.38%, 08/31/32(e)
|
EUR
|
2,960
|
$ 3,403,950
|
|
5.38%, 08/31/32(a)
|
|
100
|
114,998
|
|
7.38%, 08/31/32(e)
|
GBP
|
865
|
1,137,040
|
|
KeHE Distributors LLC/KeHE Finance Corp./NextWave
Distribution, Inc., 9.00%, 02/15/29(e)
|
USD
|
850
|
884,892
|
|
Lion/Polaris Lux Midco SARL, (3-mo. EURIBOR +
3.63%), 5.75%, 07/01/29(a)(b)
|
EUR
|
200
|
230,697
|
|
Market Bidco Finco PLC, 6.75%, 01/31/31(a)
|
|
105
|
116,586
|
|
Performance Food Group, Inc.(e)
|
|
|
|
|
4.25%, 08/01/29
|
USD
|
45
|
43,225
|
|
5.63%, 03/01/34
|
|
3,708
|
3,576,338
|
|
Simmons Foods, Inc./Simmons Prepared Foods,
Inc./Simmons Pet Food, Inc./Simmons Feed, 4.63%,
03/01/29(e)
|
|
393
|
378,218
|
|
United Natural Foods, Inc., 6.75%, 10/15/28(e)
|
|
864
|
864,681
|
|
|
|
|
18,360,657
|
|
Containers & Packaging — 3.6%
|
|||
|
Ahlstrom Holding 3 OY, 3.63%, 02/04/28(a)
|
EUR
|
109
|
122,380
|
|
Ardagh Group SA
|
|
|
|
|
9.50%, 12/01/30(e)
|
USD
|
6,274
|
6,578,348
|
|
9.50%, 12/01/30(a)
|
|
136
|
142,714
|
|
(4.50% Cash + 7.50% PIK), 12.00%, 12/01/30(a)(f)
|
EUR
|
1,370
|
1,300,143
|
|
(5.50% Cash + 6.50% PIK), 12.00%, 12/01/30(e)(f)
|
USD
|
3,017
|
2,535,853
|
|
Ardagh Metal Packaging Finance USA LLC/Ardagh
Metal Packaging Finance PLC
|
|
|
|
|
3.25%, 09/01/28(e)
|
|
1,508
|
1,434,221
|
|
3.00%, 09/01/29(a)
|
EUR
|
464
|
483,840
|
|
4.00%, 09/01/29(e)
|
USD
|
9,119
|
8,350,281
|
|
6.25%, 01/30/31(e)
|
|
2,540
|
2,518,189
|
|
Ball Corp.
|
|
|
|
|
4.25%, 07/01/32
|
EUR
|
1,209
|
1,381,056
|
|
5.50%, 09/15/33
|
USD
|
845
|
845,485
|
|
Canpack SA/Canpack U.S. LLC, 2.38%, 11/01/27(a)
|
EUR
|
700
|
784,394
|
|
Clydesdale Acquisition Holdings, Inc.(e)
|
|
|
|
|
6.63%, 04/15/29
|
USD
|
2,624
|
2,576,934
|
|
6.88%, 01/15/30
|
|
1,246
|
1,211,078
|
|
6.75%, 04/15/32
|
|
4,076
|
3,856,481
|
|
Crown Americas LLC, 5.88%, 06/01/33
|
|
3,925
|
3,923,187
|
|
Fedrigoni SpA, 6.13%, 06/15/31(a)
|
EUR
|
100
|
106,486
|
|
Kleopatra Finco SARL, (6.00% PIK), 6.00%, 01/30/31(f)
|
|
81
|
82,542
|
|
LABL, Inc.(e)
|
|
|
|
|
5.88%, 11/01/28(d)(h)
|
USD
|
376
|
180,480
|
|
9.50%, 11/01/28
|
|
2,653
|
1,273,440
|
|
8.63%, 10/01/31(d)(h)
|
|
1,593
|
764,640
|
|
Mauser Packaging Solutions Holding Co.(e)
|
|
|
|
|
7.88%, 04/15/30
|
|
15,657
|
15,657,000
|
|
9.25%, 04/15/30
|
|
1,737
|
1,613,964
|
|
OI European Group BV(a)
|
|
|
|
|
6.25%, 05/15/28
|
EUR
|
100
|
115,825
|
|
5.25%, 06/01/29
|
|
100
|
114,022
|
|
Owens-Brockway Glass Container, Inc., 6.63%,
05/13/27(e)
|
USD
|
211
|
211,437
|
|
Sappi Papier Holding GmbH, 4.50%, 03/15/32(a)
|
EUR
|
115
|
118,602
|
|
Sealed Air Corp.(e)
|
|
|
|
|
4.00%, 12/01/27
|
USD
|
404
|
402,989
|
|
6.50%, 07/15/32
|
|
400
|
419,584
|
|
Sealed Air Corp./Sealed Air Corp. U.S., 7.25%,
02/15/31(e)
|
|
87
|
91,230
|
|
Silgan Holdings, Inc., 4.25%, 02/15/31(e)
|
EUR
|
2,263
|
2,531,576
|
|
Security
|
|
Par
(000)
|
Value
|
|
Containers & Packaging (continued)
|
|||
|
Trivium Packaging Finance BV
|
|
|
|
|
6.63%, 07/15/30(a)
|
EUR
|
500
|
$ 580,765
|
|
6.63%, 07/15/30(e)
|
|
445
|
516,881
|
|
8.25%, 07/15/30(e)
|
USD
|
1,385
|
1,449,102
|
|
12.25%, 01/15/31(e)
|
|
553
|
598,738
|
|
|
|
|
64,873,887
|
|
Distributors(e) — 0.2%
|
|||
|
Gates Corp., 6.88%, 07/01/29
|
|
1,519
|
1,558,553
|
|
Resideo Funding, Inc.
|
|
|
|
|
4.00%, 09/01/29
|
|
290
|
274,061
|
|
6.50%, 07/15/32
|
|
2,401
|
2,365,649
|
|
|
|
|
4,198,263
|
|
Diversified REITs — 0.8%
|
|||
|
Digital Realty Trust LP, 1.88%, 11/15/29(e)(i)
|
|
422
|
446,742
|
|
Iron Mountain Information Management Services, Inc.,
5.00%, 07/15/32(e)
|
|
585
|
552,276
|
|
Iron Mountain, Inc.
|
|
|
|
|
5.63%, 07/15/32(e)
|
|
3,252
|
3,156,947
|
|
6.25%, 01/15/33(e)
|
|
677
|
674,835
|
|
4.75%, 01/15/34(e)
|
EUR
|
2,800
|
3,011,504
|
|
4.75%, 01/15/34(a)
|
|
100
|
107,554
|
|
Millrose Properties, Inc.(e)
|
|
|
|
|
6.38%, 08/01/30
|
USD
|
2,961
|
2,960,079
|
|
6.25%, 09/15/32
|
|
3,485
|
3,420,903
|
|
Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital
LLC, 6.00%, 01/15/30(e)
|
|
299
|
281,232
|
|
|
|
|
14,612,072
|
|
Diversified Telecommunication Services — 8.4%
|
|||
|
APLD ComputeCo 2 LLC, 6.75%, 03/15/31(e)
|
|
4,892
|
4,856,382
|
|
APLD ComputeCo LLC, 9.25%, 12/15/30(e)
|
|
2,067
|
2,129,676
|
|
Black Pearl Compute LLC, 6.13%, 02/15/31(e)
|
|
5,153
|
5,244,708
|
|
Cipher Compute LLC, 7.13%, 11/15/30(e)
|
|
3,021
|
3,129,844
|
|
Connect Finco SARL/Connect U.S. Finco LLC, 9.00%,
09/15/29(e)
|
|
800
|
840,432
|
|
EchoStar Corp.
|
|
|
|
|
(6.75% Cash or 6.75% PIK), 6.75%, 11/30/30(f)
|
|
11,397
|
11,508,517
|
|
10.75%, 11/30/29
|
|
4,613
|
4,983,719
|
|
eircom Finance DAC, 5.00%, 04/30/31(a)
|
EUR
|
160
|
183,705
|
|
Eutelsat SA, 1.50%, 10/13/28(a)
|
|
100
|
109,686
|
|
Fibercop SpA
|
|
|
|
|
4.75%, 06/30/30(a)
|
|
102
|
116,932
|
|
5.13%, 06/30/32(a)
|
|
100
|
114,430
|
|
6.00%, 09/30/34(e)
|
USD
|
4,132
|
3,930,714
|
|
7.20%, 07/18/36(e)
|
|
1,468
|
1,457,386
|
|
Series 2033, 6.38%, 11/15/33(e)
|
|
803
|
793,460
|
|
Flash Compute LLC, 7.25%, 12/31/30(e)
|
|
6,468
|
6,511,924
|
|
Frontier Communications Holdings LLC
|
|
|
|
|
5.00%, 05/01/28(e)
|
|
345
|
344,946
|
|
6.75%, 05/01/29(e)
|
|
611
|
611,764
|
|
5.88%, 11/01/29
|
|
910
|
914,999
|
|
6.00%, 01/15/30(e)
|
|
1,055
|
1,061,311
|
|
8.75%, 05/15/30(e)
|
|
11,428
|
11,726,111
|
|
Kaixo Bondco Telecom SA, 5.13%, 09/30/29(a)
|
EUR
|
100
|
115,875
|
|
Level 3 Financing, Inc.(e)
|
|
|
|
|
3.63%, 01/15/29
|
USD
|
343
|
321,563
|
|
6.88%, 06/30/33
|
|
13,566
|
13,814,205
|
|
7.00%, 03/31/34
|
|
12,696
|
12,995,447
|
|
8.50%, 01/15/36
|
|
12,381
|
12,918,480
|
|
Lorca Telecom Bondco SA, 4.00%, 09/18/27(a)
|
EUR
|
26
|
29,944
|
|
Sable International Finance Ltd., 7.13%, 10/15/32(e)
|
USD
|
1,804
|
1,775,331
|
|
Security
|
|
Par
(000)
|
Value
|
|
Diversified Telecommunication Services (continued)
|
|||
|
SoftBank Group Corp.(a)
|
|
|
|
|
5.38%, 01/08/29
|
EUR
|
148
|
$ 171,730
|
|
5.25%, 10/10/29
|
|
100
|
113,693
|
|
5.88%, 07/10/31
|
|
100
|
112,588
|
|
SV RNO Property Owner 1 LLC, 5.88%, 03/01/31(e)
|
USD
|
13,654
|
13,496,877
|
|
Telecom Italia Capital SA, 7.72%, 06/04/38
|
|
3,285
|
3,658,462
|
|
Telefonica Emisiones SA, (5-year EURIBOR ICE Swap
+ 1.84%), 4.38%(a)(b)(g)
|
EUR
|
100
|
111,643
|
|
Uniti Group LP/Uniti Group Finance 2019, Inc./CSL
Capital LLC(e)
|
|
|
|
|
6.50%, 02/15/29
|
USD
|
408
|
396,265
|
|
Series Feb, 8.63%, 06/15/32
|
|
5,138
|
5,232,980
|
|
Windstream Services LLC, 7.50%, 10/15/33(e)
|
|
3,602
|
3,744,825
|
|
Windstream Services LLC/Windstream Escrow Finance
Corp., 8.25%, 10/01/31(e)
|
|
8,910
|
9,312,349
|
|
WULF Compute LLC, 7.75%, 10/15/30(e)
|
|
6,755
|
7,137,873
|
|
Zayo Group Holdings, Inc.(e)(f)
|
|
|
|
|
(5.75% Cash and 0.50% PIK), 9.25%, 03/09/30
|
|
2,073
|
2,061,176
|
|
(7.13% Cash and 1.88% PIK), 13.75%, 09/09/30
|
|
2,278
|
2,127,222
|
|
|
|
|
150,219,174
|
|
Electric Utilities — 2.1%
|
|||
|
Alpha Generation LLC, 6.75%, 10/15/32(e)
|
|
1,671
|
1,695,451
|
|
California Buyer Ltd./Atlantica Sustainable Infrastructure
PLC
|
|
|
|
|
5.63%, 02/15/32(a)
|
EUR
|
106
|
118,431
|
|
6.38%, 02/15/32(e)
|
USD
|
988
|
965,350
|
|
Constellation Energy Generation LLC, 4.63%,
02/01/29(e)
|
|
2,297
|
2,269,215
|
|
ContourGlobal Power Holdings SA
|
|
|
|
|
5.00%, 02/28/30(a)
|
EUR
|
100
|
115,579
|
|
6.75%, 02/28/30(e)
|
USD
|
3,303
|
3,340,126
|
|
4.38%, 07/31/31(a)
|
EUR
|
100
|
109,457
|
|
EDP SA, (5-year EUR Swap + 2.38%), 1.88%,
08/02/81(a)(b)
|
|
200
|
229,682
|
|
NextEra Energy Capital Holdings, Inc., (5-year CMT +
2.46%), 6.75%, 06/15/54(b)
|
USD
|
757
|
783,142
|
|
Public Power Corp. SA(a)
|
|
|
|
|
4.25%, 10/31/30
|
EUR
|
100
|
114,238
|
|
4.63%, 10/31/31
|
|
100
|
115,135
|
|
Talen Energy Supply LLC, 8.63%, 06/01/30(e)
|
USD
|
323
|
338,852
|
|
TransAlta Corp., 5.88%, 02/01/34
|
|
1,108
|
1,100,542
|
|
Vistra Operations Co. LLC(e)
|
|
|
|
|
7.75%, 10/15/31
|
|
1,331
|
1,394,198
|
|
6.88%, 04/15/32
|
|
2,336
|
2,417,637
|
|
VoltaGrid LLC, 7.38%, 11/01/30(e)
|
|
9,824
|
10,146,316
|
|
XPLR Infrastructure Operating Partners LP(e)
|
|
|
|
|
8.38%, 01/15/31
|
|
5,897
|
6,207,778
|
|
8.63%, 03/15/33
|
|
476
|
502,856
|
|
7.75%, 04/15/34
|
|
5,590
|
5,773,084
|
|
|
|
|
37,737,069
|
|
Electronic Equipment, Instruments & Components(e) — 0.5%
|
|||
|
Sensata Technologies, Inc., 6.63%, 07/15/32
|
|
3,536
|
3,606,663
|
|
WESCO Distribution, Inc.
|
|
|
|
|
5.25%, 04/15/31
|
|
1,210
|
1,202,777
|
|
6.63%, 03/15/32
|
|
800
|
818,824
|
|
6.38%, 03/15/33
|
|
1,031
|
1,050,344
|
|
Security
|
|
Par
(000)
|
Value
|
|
Electronic Equipment, Instruments & Components (continued)
|
|||
|
WESCO Distribution, Inc. (continued)
|
|
|
|
|
5.50%, 04/15/34
|
USD
|
1,924
|
$ 1,894,850
|
|
Zebra Technologies Corp., 6.50%, 06/01/32
|
|
591
|
595,028
|
|
|
|
|
9,168,486
|
|
Energy Equipment & Services — 1.6%
|
|||
|
Archrock Partners LP/Archrock Partners Finance
Corp.(e)
|
|
|
|
|
6.25%, 04/01/28
|
|
560
|
560,000
|
|
6.63%, 09/01/32
|
|
3,000
|
3,058,965
|
|
Archrock Services LP/Archrock Partners Finance Corp.,
6.00%, 02/01/34(e)
|
|
2,103
|
2,082,102
|
|
Enerflex, Inc., 6.88%, 01/15/31(e)
|
|
199
|
203,184
|
|
Kodiak Gas Services LLC(e)
|
|
|
|
|
7.25%, 02/15/29
|
|
2,606
|
2,699,959
|
|
5.88%, 04/01/31
|
|
3,026
|
3,040,986
|
|
6.50%, 10/01/33
|
|
2,268
|
2,292,499
|
|
6.75%, 10/01/35
|
|
2,259
|
2,294,945
|
|
Oceaneering International, Inc., 6.00%, 02/01/28
|
|
369
|
370,501
|
|
OEG Finance PLC, 7.25%, 09/27/29(a)
|
EUR
|
200
|
238,102
|
|
Star Holding LLC, 8.75%, 08/01/31(e)
|
USD
|
1,289
|
1,307,736
|
|
Tidewater, Inc., 9.13%, 07/15/30(e)
|
|
1,127
|
1,200,629
|
|
USA Compression Partners LP/USA Compression
Finance Corp.(e)
|
|
|
|
|
7.13%, 03/15/29
|
|
1,563
|
1,599,224
|
|
6.25%, 10/01/33
|
|
4,181
|
4,167,851
|
|
Weatherford International Ltd., 6.75%, 10/15/33(e)
|
|
3,869
|
3,953,224
|
|
|
|
|
29,069,907
|
|
Entertainment — 3.4%
|
|||
|
Allwyn Entertainment Financing U.K. PLC(a)
|
|
|
|
|
7.25%, 04/30/30
|
EUR
|
90
|
107,537
|
|
4.13%, 02/15/31
|
|
100
|
108,752
|
|
4.63%, 08/15/31
|
|
100
|
110,778
|
|
Banijay Entertainment SAS, 7.00%, 05/01/29(a)
|
|
113
|
133,896
|
|
Boyne USA, Inc., 4.75%, 05/15/29(e)
|
USD
|
1,615
|
1,566,544
|
|
Brightstar Lottery PLC/Brightstar Global Solutions Corp.,
5.75%, 01/15/33(e)
|
|
1,199
|
1,165,520
|
|
Caesars Entertainment, Inc.(e)
|
|
|
|
|
4.63%, 10/15/29
|
|
2,736
|
2,631,745
|
|
7.00%, 02/15/30
|
|
6,340
|
6,418,299
|
|
6.50%, 02/15/32
|
|
2,991
|
2,956,179
|
|
Churchill Downs, Inc.(e)
|
|
|
|
|
5.75%, 04/01/30
|
|
565
|
558,764
|
|
6.75%, 05/01/31
|
|
13,664
|
13,920,897
|
|
Cinemark USA, Inc., 7.00%, 08/01/32(e)
|
|
383
|
393,528
|
|
Cirsa Finance International SARL(a)
|
|
|
|
|
6.50%, 03/15/29
|
EUR
|
100
|
117,614
|
|
(3-mo. EURIBOR + 3.00%), 5.15%, 10/15/32(b)
|
|
100
|
115,046
|
|
Discovery Global Holdings, Inc.
|
|
|
|
|
4.28%, 03/15/32
|
USD
|
2,378
|
2,104,530
|
|
5.05%, 03/15/42
|
|
7,046
|
4,641,945
|
|
Entain PLC, 4.88%, 11/30/31(a)
|
EUR
|
100
|
113,460
|
|
Flutter Treasury DAC, 4.00%, 06/04/31(a)
|
|
101
|
112,680
|
|
Great Canadian Gaming Corp./Raptor LLC, 8.75%,
11/15/29(e)
|
USD
|
2,205
|
2,151,212
|
|
Light & Wonder International, Inc.(e)
|
|
|
|
|
7.25%, 11/15/29
|
|
241
|
245,675
|
|
7.50%, 09/01/31
|
|
474
|
486,466
|
|
6.25%, 10/01/33
|
|
1,128
|
1,105,090
|
|
Security
|
|
Par
(000)
|
Value
|
|
Entertainment (continued)
|
|||
|
Live Nation Entertainment, Inc., 4.75%, 10/15/27(e)
|
USD
|
57
|
$ 56,646
|
|
Lottomatica Group SpA(a)
|
|
|
|
|
4.88%, 01/31/31
|
EUR
|
100
|
116,498
|
|
(3-mo. EURIBOR + 3.25%), 5.26%, 06/01/31(b)
|
|
100
|
115,798
|
|
Merlin Entertainments Group U.S. Holdings, Inc., 7.38%,
02/15/31(e)
|
USD
|
2,000
|
1,669,143
|
|
Midwest Gaming Borrower LLC/Midwest Gaming
Finance Corp., 4.88%, 05/01/29(e)
|
|
578
|
560,555
|
|
Mohegan Tribal Gaming Authority/MS Digital
Entertainment Holdings LLC, 8.25%, 04/15/30(e)
|
|
1,384
|
1,416,842
|
|
Motion Bondco DAC, 6.63%, 11/15/27(e)
|
|
687
|
657,609
|
|
Odeon Finco PLC, 12.75%, 11/01/27(e)
|
|
1,008
|
1,037,564
|
|
Pinewood Finco PLC(a)
|
|
|
|
|
3.63%, 11/15/27
|
GBP
|
100
|
127,694
|
|
6.00%, 03/27/30
|
|
181
|
233,727
|
|
Premier Entertainment Sub LLC/Premier Entertainment
Finance Corp.(e)
|
|
|
|
|
5.63%, 09/01/29
|
USD
|
1,188
|
724,680
|
|
5.88%, 09/01/31
|
|
262
|
144,100
|
|
Rivers Enterprise Borrower LLC, 6.25%, 10/15/30(e)
|
|
807
|
804,963
|
|
Rivers Enterprise Borrower LLC/Rivers Enterprise
Finance Corp., 6.63%, 02/01/33(e)
|
|
903
|
896,202
|
|
Scientific Games Holdings LP/Scientific Games
U.S. FinCo, Inc., 6.63%, 03/01/30(e)
|
|
1,917
|
1,649,142
|
|
Six Flags Entertainment Corp/Canada’s Wonderland
Co/Millennium Operations LLC, 8.63%, 01/15/32(e)
|
|
585
|
585,944
|
|
Starz Capital Holdings 1, Inc., 6.00%, 04/15/30(e)
|
|
1,076
|
987,230
|
|
Vail Resorts, Inc., 5.63%, 07/15/30(e)
|
|
1,122
|
1,112,718
|
|
Voyager Parent LLC, 9.25%, 07/01/32(e)
|
|
1,652
|
1,715,130
|
|
Wynn Resorts Finance LLC/Wynn Resorts Capital
Corp.(e)
|
|
|
|
|
5.13%, 10/01/29
|
|
1,064
|
1,050,244
|
|
7.13%, 02/15/31
|
|
3,127
|
3,277,862
|
|
6.25%, 03/15/33
|
|
252
|
249,379
|
|
|
|
|
60,455,827
|
|
Environmental, Maintenance & Security Service — 1.2%
|
|||
|
Biffa Group Holdings Ltd.(a)
|
|
|
|
|
5.25%, 06/15/31
|
EUR
|
100
|
111,815
|
|
7.38%, 06/15/31
|
GBP
|
100
|
129,249
|
|
GFL Environmental Holdings U.S., Inc., 5.50%,
02/01/34(e)
|
USD
|
4,625
|
4,536,181
|
|
GFL Environmental, Inc., 6.75%, 01/15/31(e)
|
|
109
|
112,796
|
|
Luna 15 SARL(f)
|
|
|
|
|
(10.50% PIK), 10.50%, 07/01/32(e)
|
EUR
|
585
|
716,743
|
|
(10.50% PIK), 10.50%, 07/01/32(a)
|
|
100
|
122,520
|
|
Madison IAQ LLC, 5.88%, 06/30/29(e)
|
USD
|
5,074
|
4,975,867
|
|
Paprec Holding SA, 4.13%, 07/15/30(a)
|
EUR
|
100
|
113,347
|
|
Reworld Holding Corp., 4.88%, 12/01/29(e)
|
USD
|
3,559
|
3,336,423
|
|
Waste Pro USA, Inc., 7.00%, 02/01/33(e)
|
|
7,359
|
7,441,796
|
|
|
|
|
21,596,737
|
|
Financial Services — 3.0%
|
|||
|
Azorra Finance Ltd.(e)
|
|
|
|
|
7.75%, 04/15/30
|
|
2,259
|
2,328,396
|
|
7.25%, 01/15/31
|
|
1,433
|
1,446,886
|
|
6.25%, 02/15/34
|
|
722
|
671,051
|
|
Bracken MidCo1 PLC, (6.75% Cash or 7.50% PIK),
6.75%, 11/01/27(a)(f)
|
GBP
|
100
|
130,643
|
|
CrossCountry Intermediate HoldCo LLC(e)
|
|
|
|
|
6.50%, 10/01/30
|
USD
|
446
|
425,100
|
|
6.75%, 12/01/32
|
|
426
|
400,845
|
|
Security
|
|
Par
(000)
|
Value
|
|
Financial Services (continued)
|
|||
|
Deutsche Bank AG, (5-year EURIBOR ICE Swap +
5.26%), 8.13%(a)(b)(g)
|
EUR
|
200
|
$ 242,753
|
|
Freedom Mortgage Holdings LLC(e)
|
|
|
|
|
6.88%, 05/01/31
|
USD
|
1,178
|
1,101,322
|
|
9.13%, 05/15/31
|
|
1,542
|
1,567,443
|
|
8.38%, 04/01/32
|
|
184
|
181,000
|
|
Garfunkelux Holdco 3 SA, 9.00%, 09/01/28(a)
|
EUR
|
185
|
215,054
|
|
GGAM Finance Ltd.(e)
|
|
|
|
|
8.00%, 06/15/28
|
USD
|
442
|
458,733
|
|
6.88%, 04/15/29
|
|
1,248
|
1,275,762
|
|
Global Aircraft Leasing Co. Ltd., 8.75%, 09/01/27(e)
|
|
1,913
|
1,941,121
|
|
Intrum Investments And Financing AB, 8.00%,
09/11/27(a)
|
EUR
|
103
|
118,353
|
|
Lehman Brothers Holdings, Inc., 0.00%, 02/05/18(d)(h)
|
|
3,950
|
12,327
|
|
Midcap Financial Issuer Trust(e)
|
|
|
|
|
6.50%, 05/01/28
|
USD
|
2,631
|
2,553,080
|
|
5.63%, 01/15/30
|
|
1,400
|
1,304,604
|
|
PennyMac Financial Services, Inc.(e)
|
|
|
|
|
7.88%, 12/15/29
|
|
981
|
1,003,530
|
|
7.13%, 11/15/30
|
|
777
|
772,163
|
|
6.88%, 05/15/32
|
|
2,461
|
2,374,846
|
|
6.75%, 02/15/34
|
|
1,306
|
1,222,205
|
|
Phoenix Aviation Capital Ltd., 9.25%, 07/15/30(e)
|
|
4,544
|
4,572,582
|
|
PRA Group Europe Holding II SARL, 6.25%, 09/30/32(a)
|
EUR
|
154
|
168,352
|
|
Progroup AG, 5.38%, 04/15/31(a)
|
|
100
|
113,139
|
|
ProGroup AG, 5.13%, 04/15/29(a)
|
|
100
|
115,119
|
|
Rocket Cos., Inc.(e)
|
|
|
|
|
6.50%, 08/01/29
|
USD
|
2,646
|
2,675,782
|
|
6.13%, 08/01/30
|
|
8,339
|
8,415,944
|
|
7.13%, 02/01/32
|
|
4,695
|
4,839,291
|
|
6.38%, 08/01/33
|
|
6,376
|
6,444,504
|
|
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer,
Inc.(e)
|
|
|
|
|
3.88%, 03/01/31
|
|
225
|
207,625
|
|
4.00%, 10/15/33
|
|
142
|
127,284
|
|
Stena International SA, 7.25%, 01/15/31(e)
|
|
200
|
202,106
|
|
Titanium 2l Bondco SARL, (6.25% PIK), 6.25%,
01/14/31(f)
|
EUR
|
548
|
91,894
|
|
UWM Holdings LLC(e)
|
|
|
|
|
6.63%, 02/01/30
|
USD
|
1,662
|
1,567,552
|
|
6.25%, 03/15/31
|
|
2,650
|
2,413,317
|
|
|
|
|
53,701,708
|
|
Food Products — 1.5%
|
|||
|
B&G Foods, Inc., 8.00%, 09/15/28(e)
|
|
452
|
445,087
|
|
Chobani Holdco II LLC, (8.75% in Cash or 9.50% in
PIK), 8.75%, 10/01/29(e)(f)
|
|
10,152
|
10,800,488
|
|
Chobani LLC/Chobani Finance Corp., Inc., 7.63%,
07/01/29(e)
|
|
5,460
|
5,579,339
|
|
Darling Global Finance BV
|
|
|
|
|
4.50%, 07/15/32(e)
|
EUR
|
1,469
|
1,689,561
|
|
4.50%, 07/15/32(a)
|
|
100
|
115,014
|
|
Elior Group SA, 5.63%, 03/15/30(a)
|
|
213
|
248,485
|
|
Fiesta Purchaser, Inc.(e)
|
|
|
|
|
7.88%, 03/01/31
|
USD
|
104
|
105,879
|
|
9.63%, 09/15/32
|
|
750
|
763,853
|
|
Froneri Lux FinCo SARL, 4.75%, 08/01/32(a)
|
EUR
|
300
|
327,554
|
|
Irca SpA, (3-mo. EURIBOR + 3.75%), 5.90%,
12/15/29(a)(b)
|
|
104
|
120,399
|
|
Post Holdings, Inc.(e)
|
|
|
|
|
4.50%, 09/15/31
|
USD
|
215
|
199,910
|
|
6.38%, 03/01/33
|
|
331
|
326,082
|
|
Security
|
|
Par
(000)
|
Value
|
|
Food Products (continued)
|
|||
|
Post Holdings, Inc.(e) (continued)
|
|
|
|
|
6.25%, 10/15/34
|
USD
|
2,181
|
$ 2,135,649
|
|
6.50%, 03/15/36
|
|
3,293
|
3,224,904
|
|
Premier Foods Finance PLC, 3.50%, 10/15/26(a)
|
GBP
|
100
|
130,892
|
|
Tereos Finance Groupe I SA, 7.25%, 04/15/28(a)
|
EUR
|
100
|
116,455
|
|
|
|
|
26,329,551
|
|
Ground Transportation — 0.1%
|
|||
|
Watco Cos. LLC/Watco Finance Corp., 7.13%,
08/01/32(e)
|
USD
|
1,136
|
1,166,689
|
|
Health Care Equipment & Supplies — 1.0%
|
|||
|
Avantor Funding, Inc., 3.88%, 07/15/28(a)
|
EUR
|
100
|
114,608
|
|
Bausch & Lomb Corp., 8.38%, 10/01/28(e)
|
USD
|
8,332
|
8,602,790
|
|
Hologic, Inc., 3.25%, 02/15/29(e)
|
|
79
|
78,863
|
|
Insulet Corp., 6.50%, 04/01/33(e)
|
|
1,080
|
1,102,358
|
|
Medline Borrower LP, 5.25%, 10/01/29(e)
|
|
7,075
|
7,012,693
|
|
Medline Borrower LP/Medline Co-Issuer, Inc., 6.25%,
04/01/29(e)
|
|
111
|
113,107
|
|
Neogen Food Safety Corp., 8.63%, 07/20/30(e)
|
|
899
|
944,241
|
|
|
|
|
17,968,660
|
|
Health Care Providers & Services — 3.7%
|
|||
|
Acadia Healthcare Co., Inc., 7.38%, 03/15/33(e)
|
|
1,017
|
1,041,229
|
|
AHP Health Partners, Inc., 5.75%, 07/15/29(e)
|
|
3,138
|
3,103,242
|
|
CHS/Community Health Systems, Inc.(e)
|
|
|
|
|
5.25%, 05/15/30
|
|
4,324
|
4,075,294
|
|
4.75%, 02/15/31
|
|
2,635
|
2,429,269
|
|
10.88%, 01/15/32
|
|
2,613
|
2,803,386
|
|
9.75%, 01/15/34
|
|
11,539
|
11,975,960
|
|
Clariane SE, 7.88%, 06/27/30(a)
|
EUR
|
100
|
119,594
|
|
Concentra Health Services, Inc., 6.88%, 07/15/32(e)
|
USD
|
2,252
|
2,328,262
|
|
DaVita, Inc.(e)
|
|
|
|
|
6.88%, 09/01/32
|
|
287
|
294,011
|
|
6.75%, 07/15/33
|
|
209
|
212,585
|
|
Ephios Subco 3 SARL, 7.88%, 01/31/31(a)
|
EUR
|
118
|
142,838
|
|
Fortrea Holdings, Inc., 7.50%, 07/01/30(e)
|
USD
|
423
|
400,877
|
|
Gruppo San Donato SPA, 6.50%, 10/31/31(a)
|
EUR
|
100
|
112,117
|
|
HAH Group Holding Co. LLC, 9.75%, 10/01/31(e)
|
USD
|
1,616
|
1,415,720
|
|
IQVIA, Inc., 6.25%, 06/01/32(e)
|
|
4,182
|
4,246,783
|
|
LifePoint Health, Inc.(e)
|
|
|
|
|
9.88%, 08/15/30
|
|
231
|
244,285
|
|
11.00%, 10/15/30
|
|
2,170
|
2,333,770
|
|
8.38%, 02/15/32
|
|
4,599
|
4,911,373
|
|
10.00%, 06/01/32
|
|
2,098
|
2,142,541
|
|
Mehilainen Yhtiot OYJ, 5.13%, 06/30/32(a)
|
EUR
|
100
|
115,183
|
|
Molina Healthcare, Inc.(e)
|
|
|
|
|
3.88%, 11/15/30
|
USD
|
800
|
715,224
|
|
6.50%, 02/15/31
|
|
2,771
|
2,724,185
|
|
6.25%, 01/15/33
|
|
450
|
436,316
|
|
Prime Healthcare Services, Inc., 9.38%, 09/01/29(e)
|
|
390
|
404,430
|
|
Sotera Health Holdings LLC, 7.38%, 06/01/31(e)
|
|
1,776
|
1,834,560
|
|
Star Parent, Inc., 9.00%, 10/01/30(e)
|
|
2,752
|
2,851,075
|
|
Surgery Center Holdings, Inc., 7.25%, 04/15/32(e)
|
|
8,052
|
7,908,459
|
|
Tenet Healthcare Corp.(e)
|
|
|
|
|
5.50%, 11/15/32
|
|
782
|
774,787
|
|
6.00%, 11/15/33
|
|
1,080
|
1,092,794
|
|
U.S. Acute Care Solutions LLC, 9.75%, 05/15/29(e)
|
|
3,184
|
3,075,898
|
|
|
|
|
66,266,047
|
|
Health Care REITs — 0.5%
|
|||
|
Diversified Healthcare Trust, 7.25%, 10/15/30(e)
|
|
729
|
735,264
|
|
MPT Operating Partnership LP/MPT Finance Corp.
|
|
|
|
|
0.99%, 10/15/26
|
EUR
|
100
|
110,628
|
|
Security
|
|
Par
(000)
|
Value
|
|
Health Care REITs (continued)
|
|||
|
MPT Operating Partnership LP/MPT Finance
Corp. (continued)
|
|
|
|
|
7.00%, 02/15/32(e)
|
EUR
|
1,425
|
$ 1,620,924
|
|
7.00%, 02/15/32(a)
|
|
152
|
172,899
|
|
8.50%, 02/15/32(e)
|
USD
|
7,003
|
7,099,725
|
|
|
|
|
9,739,440
|
|
Hotel & Resort REITs — 1.5%
|
|||
|
Park Intermediate Holdings LLC/PK Domestic Property
LLC/PK Finance Co-Issuer, 7.00%, 02/01/30(e)
|
|
1,878
|
1,900,994
|
|
Pebblebrook Hotel LP/PEB Finance Corp., 6.38%,
10/15/29(e)
|
|
606
|
607,099
|
|
RHP Hotel Properties LP/RHP Finance Corp.(e)
|
|
|
|
|
6.50%, 04/01/32
|
|
4,515
|
4,596,794
|
|
6.50%, 06/15/33
|
|
2,913
|
2,966,238
|
|
5.75%, 03/15/34
|
|
3,082
|
3,041,483
|
|
RLJ Lodging Trust LP, 4.00%, 09/15/29(e)
|
|
749
|
701,503
|
|
Service Properties Trust
|
|
|
|
|
0.00%, 09/30/28(e)(j)
|
|
1,934
|
1,759,544
|
|
8.63%, 11/15/31(e)
|
|
8,565
|
8,944,618
|
|
8.88%, 06/15/32
|
|
1,821
|
1,804,863
|
|
XHR LP, 6.63%, 05/15/30(e)
|
|
592
|
597,686
|
|
|
|
|
26,920,822
|
|
Hotels, Restaurants & Leisure — 1.8%
|
|||
|
Burger King (Restaurant Brands International, Inc.)/New
Red Finance, Inc., 5.63%, 09/15/29(e)
|
|
630
|
631,372
|
|
Essendi SA(a)
|
|
|
|
|
5.50%, 11/15/31
|
EUR
|
108
|
122,052
|
|
(3-mo. EURIBOR + 3.75%), 5.73%, 05/15/32(b)
|
|
100
|
114,625
|
|
Fertitta Entertainment LLC/Fertitta Entertainment
Finance Co., Inc.(e)
|
|
|
|
|
4.63%, 01/15/29
|
USD
|
5,841
|
5,582,403
|
|
6.75%, 01/15/30
|
|
1,093
|
1,020,919
|
|
Hilton Domestic Operating Co., Inc.(e)
|
|
|
|
|
5.75%, 09/15/33
|
|
798
|
794,397
|
|
5.50%, 03/31/34
|
|
2,282
|
2,229,461
|
|
MajorDrive Holdings IV LLC, 6.38%, 06/01/29(e)
|
|
1,446
|
1,069,556
|
|
Melco Resorts Finance Ltd.(e)
|
|
|
|
|
5.63%, 07/17/27
|
|
200
|
198,130
|
|
5.75%, 07/21/28
|
|
600
|
589,158
|
|
5.38%, 12/04/29
|
|
3,339
|
3,201,266
|
|
7.63%, 04/17/32
|
|
1,534
|
1,557,371
|
|
6.50%, 09/24/33
|
|
270
|
259,046
|
|
MGM China Holdings Ltd., 7.13%, 06/26/31(e)
|
|
474
|
483,717
|
|
MGM Resorts International, 6.13%, 09/15/29
|
|
1,648
|
1,657,764
|
|
Station Casinos LLC(e)
|
|
|
|
|
4.63%, 12/01/31
|
|
1,872
|
1,747,868
|
|
6.63%, 03/15/32
|
|
755
|
757,929
|
|
Wyndham Hotels & Resorts, Inc., 5.63%, 03/01/33(e)
|
|
894
|
879,675
|
|
Wynn Macau Ltd.(e)
|
|
|
|
|
5.50%, 10/01/27
|
|
200
|
197,922
|
|
5.63%, 08/26/28
|
|
7,034
|
6,914,158
|
|
4.50%, 03/07/29(i)
|
|
200
|
199,100
|
|
5.13%, 12/15/29
|
|
1,358
|
1,298,316
|
|
|
|
|
31,506,205
|
|
Household Durables — 1.4%
|
|||
|
Ashton Woods USA LLC/Ashton Woods Finance Co.(e)
|
|
|
|
|
4.63%, 04/01/30
|
|
636
|
590,291
|
|
6.88%, 08/01/33
|
|
1,411
|
1,361,242
|
|
Beazer Homes USA, Inc., 5.88%, 10/15/27
|
|
306
|
304,519
|
|
Brookfield Residential Properties, Inc./Brookfield
Residential U.S. LLC, 5.00%, 06/15/29(e)
|
|
2,169
|
2,057,938
|
|
Security
|
|
Par
(000)
|
Value
|
|
Household Durables (continued)
|
|||
|
Century Communities, Inc., 6.63%, 09/15/33(e)
|
USD
|
947
|
$ 927,725
|
|
Dream Finders Homes, Inc., 8.25%, 08/15/28(e)
|
|
607
|
616,769
|
|
Empire Communities Corp., 9.75%, 05/01/29(e)
|
|
257
|
258,052
|
|
Installed Building Products, Inc., 5.63%, 02/01/34(e)
|
|
1,836
|
1,791,562
|
|
K Hovnanian Enterprises, Inc.(e)
|
|
|
|
|
8.00%, 04/01/31
|
|
2,305
|
2,278,919
|
|
8.38%, 10/01/33
|
|
2,224
|
2,199,297
|
|
LGI Homes, Inc.(e)
|
|
|
|
|
8.75%, 12/15/28
|
|
453
|
463,479
|
|
7.00%, 11/15/32
|
|
1,305
|
1,210,032
|
|
Mattamy Group Corp., 6.00%, 12/15/33(e)
|
|
1,070
|
1,004,788
|
|
Meritage Homes Corp., 1.75%, 05/15/28(i)
|
|
2,135
|
2,056,005
|
|
Newell Brands, Inc.
|
|
|
|
|
8.50%, 06/01/28(e)
|
|
1,642
|
1,694,872
|
|
6.63%, 09/15/29
|
|
287
|
280,136
|
|
6.38%, 05/15/30
|
|
480
|
460,759
|
|
6.63%, 05/15/32
|
|
633
|
605,771
|
|
Risewell Homes, Inc.(e)
|
|
|
|
|
9.25%, 10/01/29
|
|
1,145
|
1,156,618
|
|
8.50%, 11/01/30
|
|
301
|
294,324
|
|
Scotts Miracle-Gro Co.
|
|
|
|
|
4.50%, 10/15/29
|
|
229
|
223,864
|
|
4.38%, 02/01/32
|
|
1,696
|
1,584,002
|
|
Somnigroup International, Inc., 3.88%, 10/15/31(e)
|
|
1,434
|
1,303,726
|
|
STL Holding Co. LLC, 8.75%, 02/15/29(e)
|
|
618
|
638,477
|
|
Taylor Morrison Communities, Inc., 5.75%, 11/15/32(e)
|
|
421
|
421,368
|
|
|
|
|
25,784,535
|
|
Independent Power and Renewable Electricity Producers(e) — 1.7%
|
|||
|
Lightning Power LLC, 7.25%, 08/15/32
|
|
609
|
633,042
|
|
NRG Energy, Inc.
|
|
|
|
|
5.75%, 07/15/29
|
|
1,231
|
1,229,160
|
|
6.00%, 02/01/33
|
|
5,498
|
5,499,402
|
|
5.75%, 01/15/34
|
|
3,288
|
3,243,363
|
|
6.25%, 11/01/34
|
|
2,648
|
2,669,110
|
|
6.00%, 01/15/36
|
|
12,425
|
12,312,021
|
|
Vistra Corp., (5-year CMT + 6.93%), 8.00%(b)(g)
|
|
994
|
1,004,536
|
|
XPLR Infrastructure LP, 2.50%, 06/15/26(i)
|
|
4,274
|
4,231,260
|
|
|
|
|
30,821,894
|
|
Industrial Conglomerates — 0.3%
|
|||
|
Amsted Industries, Inc., 6.38%, 03/15/33(e)
|
|
1,984
|
1,993,821
|
|
Avient Corp., 6.25%, 11/01/31(e)
|
|
927
|
933,474
|
|
Axon Enterprise, Inc., 6.25%, 03/15/33(e)
|
|
630
|
643,070
|
|
Enpro, Inc., 6.13%, 06/01/33(e)
|
|
876
|
886,044
|
|
Maxam Prill SARL, 6.00%, 07/15/30(a)
|
EUR
|
255
|
291,280
|
|
|
|
|
4,747,689
|
|
Insurance — 8.3%
|
|||
|
Alliant Holdings Intermediate LLC/Alliant Holdings Co-
Issuer(e)
|
|
|
|
|
6.75%, 10/15/27
|
USD
|
974
|
973,258
|
|
6.75%, 04/15/28
|
|
1,904
|
1,914,377
|
|
5.88%, 11/01/29
|
|
6,233
|
6,030,610
|
|
7.00%, 01/15/31
|
|
6,196
|
6,248,741
|
|
6.50%, 10/01/31
|
|
279
|
273,963
|
|
7.38%, 10/01/32
|
|
9,398
|
9,308,260
|
|
AmWINS Group, Inc., 4.88%, 06/30/29(e)
|
|
878
|
841,092
|
|
Amynta Agency Borrower, Inc. and Amynta Warranty
Borrower, Inc., 7.50%, 07/15/33(e)
|
|
2,855
|
2,707,503
|
|
APH Somerset Investor 2 LLC/APH2 Somerset Investor
2 LLC/APH3 Somerset Investor 2 LLC, 7.88%,
11/01/29(e)
|
|
1,293
|
1,169,221
|
|
Security
|
|
Par
(000)
|
Value
|
|
Insurance (continued)
|
|||
|
Ardonagh Finco Ltd.
|
|
|
|
|
6.88%, 02/15/31(a)
|
EUR
|
1,732
|
$ 1,988,123
|
|
7.75%, 02/15/31(e)
|
USD
|
9,524
|
9,635,593
|
|
Ardonagh Group Finance Ltd., 8.88%, 02/15/32(e)
|
|
9,536
|
9,343,015
|
|
Asurion LLC/Asurion Co-Issuer, Inc.(e)
|
|
|
|
|
8.00%, 12/31/32
|
|
5,547
|
5,754,724
|
|
8.38%, 02/01/34
|
|
6,088
|
5,910,610
|
|
Howden U.K. Refinance PLC/Howden U.K. Refinance
2 PLC/Howden U.S. Refinance LLC(e)
|
|
|
|
|
7.25%, 02/15/31
|
|
10,535
|
10,623,715
|
|
8.13%, 02/15/32
|
|
4,757
|
4,457,070
|
|
HUB International Ltd.(e)
|
|
|
|
|
7.25%, 06/15/30
|
|
17,374
|
17,797,995
|
|
7.38%, 01/31/32
|
|
26,926
|
27,463,524
|
|
Jones Deslauriers Insurance Management, Inc.(e)
|
|
|
|
|
8.50%, 03/15/30
|
|
2,854
|
2,900,886
|
|
6.88%, 10/01/33
|
|
2,626
|
2,402,317
|
|
Panther Escrow Issuer LLC, 7.13%, 06/01/31(e)
|
|
17,160
|
17,217,640
|
|
Unipol Assicurazioni SpA, 4.90%, 05/23/34(a)
|
EUR
|
100
|
118,189
|
|
USI, Inc., 7.50%, 01/15/32(e)
|
USD
|
3,839
|
3,889,517
|
|
|
|
|
148,969,943
|
|
Interactive Media & Services — 2.5%
|
|||
|
Beignet Investor LLC, 6.58%, 05/30/49(e)
|
|
35,500
|
36,499,543
|
|
iliad SA(a)
|
|
|
|
|
5.63%, 02/15/30
|
EUR
|
100
|
121,012
|
|
4.25%, 01/09/32
|
|
100
|
113,185
|
|
ION Platform Finance U.S., Inc./ION Platform Finance
SARL(e)
|
|
|
|
|
4.63%, 05/01/28
|
USD
|
244
|
227,534
|
|
5.00%, 05/01/28
|
|
2,825
|
2,638,683
|
|
8.75%, 05/01/29
|
|
782
|
727,225
|
|
Snap, Inc.(e)
|
|
|
|
|
6.88%, 03/01/33
|
|
2,518
|
2,377,672
|
|
6.88%, 03/15/34
|
|
2,159
|
2,030,688
|
|
|
|
|
44,735,542
|
|
Internet Software & Services(e) — 0.7%
|
|||
|
Getty Images, Inc.
|
|
|
|
|
11.25%, 02/21/30
|
|
931
|
838,449
|
|
10.50%, 11/15/30
|
|
631
|
565,893
|
|
Match Group Holdings II LLC
|
|
|
|
|
4.63%, 06/01/28
|
|
2,875
|
2,810,703
|
|
4.13%, 08/01/30
|
|
872
|
808,110
|
|
3.63%, 10/01/31
|
|
723
|
642,809
|
|
6.13%, 09/15/33
|
|
2,195
|
2,133,130
|
|
Rakuten Group, Inc.
|
|
|
|
|
11.25%, 02/15/27
|
|
1,472
|
1,523,545
|
|
9.75%, 04/15/29
|
|
2,926
|
3,117,940
|
|
|
|
|
12,440,579
|
|
IT Services — 1.1%
|
|||
|
Almaviva-The Italian Innovation Co. SpA, 5.00%,
10/30/30(a)
|
EUR
|
162
|
177,443
|
|
Amentum Holdings, Inc., 7.25%, 08/01/32(e)
|
USD
|
438
|
453,247
|
|
Atos SE, 9.73%, 12/18/29(a)(k)
|
EUR
|
185
|
240,776
|
|
CACI International, Inc., 6.38%, 06/15/33(e)
|
USD
|
2,771
|
2,820,673
|
|
Cedacri SpA, (3-mo. EURIBOR + 5.50%), 7.48%,
05/15/28(a)(b)
|
EUR
|
100
|
112,494
|
|
CoreWeave, Inc., 9.25%, 06/01/30(e)
|
USD
|
2,924
|
2,841,132
|
|
Fair Isaac Corp., 6.00%, 05/15/33(e)
|
|
6,528
|
6,405,413
|
|
Fortress Intermediate 3, Inc., 7.50%, 06/01/31(e)
|
|
2,502
|
2,486,609
|
|
Security
|
|
Par
(000)
|
Value
|
|
IT Services (continued)
|
|||
|
KBR, Inc., 4.75%, 09/30/28(e)
|
USD
|
1,213
|
$ 1,186,102
|
|
Science Applications International Corp., 5.88%,
11/01/33(e)
|
|
2,280
|
2,224,991
|
|
|
|
|
18,948,880
|
|
Leisure Products — 1.8%
|
|||
|
Acushnet Co., 5.63%, 12/01/33(e)
|
|
557
|
552,690
|
|
Carnival Corp.(e)
|
|
|
|
|
5.88%, 06/15/31
|
|
2,011
|
2,035,717
|
|
5.75%, 08/01/32
|
|
1,146
|
1,145,627
|
|
6.13%, 02/15/33
|
|
5,009
|
5,059,215
|
|
Carnival PLC, 4.13%, 07/15/31(e)
|
EUR
|
1,209
|
1,360,587
|
|
Deuce Finco PLC, 7.00%, 11/20/31(a)
|
GBP
|
100
|
130,338
|
|
Dometic Group AB, 5.00%, 09/11/30(a)
|
EUR
|
100
|
110,352
|
|
Lindblad Expeditions LLC, 7.00%, 09/15/30(e)
|
USD
|
2,701
|
2,757,697
|
|
NCL Corp. Ltd.(e)
|
|
|
|
|
5.88%, 01/15/31
|
|
1,830
|
1,777,965
|
|
6.75%, 02/01/32
|
|
746
|
740,340
|
|
6.25%, 09/15/33
|
|
3,579
|
3,472,841
|
|
Pinnacle Bidco PLC(a)
|
|
|
|
|
8.25%, 10/11/28
|
EUR
|
100
|
119,320
|
|
10.00%, 10/11/28
|
GBP
|
100
|
137,261
|
|
Sabre Financial Borrower LLC, 11.13%, 06/15/29(e)
|
USD
|
5,180
|
5,300,813
|
|
TUI AG, 5.88%, 03/15/29(a)
|
EUR
|
120
|
138,199
|
|
TUI Cruises GmbH, 5.00%, 05/15/30(a)
|
|
106
|
119,266
|
|
Viking Cruises Ltd.(e)
|
|
|
|
|
7.00%, 02/15/29
|
USD
|
269
|
269,495
|
|
9.13%, 07/15/31
|
|
3,246
|
3,424,352
|
|
5.88%, 10/15/33
|
|
3,976
|
3,925,552
|
|
|
|
|
32,577,627
|
|
Machinery — 1.0%
|
|||
|
Chart Industries, Inc.(e)
|
|
|
|
|
7.50%, 01/01/30
|
|
2,959
|
3,074,126
|
|
9.50%, 01/01/31
|
|
537
|
564,116
|
|
Columbus McKinnon Corp., 7.13%, 02/01/33(e)
|
|
1,625
|
1,624,253
|
|
Esab Corp., 5.63%, 04/01/31(e)
|
|
3,204
|
3,226,460
|
|
GrafTech Global Enterprises, Inc., 9.88%, 12/23/29(e)
|
|
646
|
412,598
|
|
IMA Industria Macchine Automatiche SpA(a)
|
|
|
|
|
3.75%, 01/15/28
|
EUR
|
100
|
113,514
|
|
(3-mo. EURIBOR + 3.75%), 5.77%, 04/15/29(b)
|
|
200
|
231,198
|
|
King U.S. Bidco, Inc., (3-mo. EURIBOR + 3.25%),
5.31%, 12/01/32(a)(b)
|
|
100
|
115,018
|
|
Lsf12 Helix Parent LLC, 7.13%, 02/01/33(e)
|
USD
|
3,697
|
3,558,015
|
|
Manitowoc Co., Inc., 9.25%, 10/01/31(e)
|
|
1,330
|
1,388,890
|
|
Terex Corp.(e)
|
|
|
|
|
5.00%, 05/15/29
|
|
130
|
128,077
|
|
6.25%, 10/15/32
|
|
773
|
778,039
|
|
TK Elevator Midco GmbH, 4.38%, 07/15/27(a)
|
EUR
|
188
|
216,562
|
|
TK Elevator U.S. Newco, Inc., 5.25%, 07/15/27(e)
|
USD
|
1,755
|
1,750,412
|
|
|
|
|
17,181,278
|
|
Media — 6.0%
|
|||
|
Block Communications, Inc., 10.25%, 03/01/31(e)
|
|
504
|
461,130
|
|
Cable One, Inc., 1.13%, 03/15/28(i)
|
|
2,038
|
1,532,576
|
|
CCO Holdings LLC/CCO Holdings Capital Corp.
|
|
|
|
|
5.38%, 06/01/29(e)
|
|
91
|
89,749
|
|
4.75%, 03/01/30(e)
|
|
553
|
524,727
|
|
4.25%, 02/01/31(e)
|
|
6,365
|
5,801,409
|
|
4.75%, 02/01/32(e)
|
|
6,360
|
5,750,502
|
|
4.50%, 05/01/32
|
|
300
|
267,981
|
|
7.00%, 02/01/33(e)
|
|
3,914
|
3,924,780
|
|
4.50%, 06/01/33(e)
|
|
1,944
|
1,692,492
|
|
Security
|
|
Par
(000)
|
Value
|
|
Media (continued)
|
|||
|
CCO Holdings LLC/CCO Holdings Capital
Corp. (continued)
|
|
|
|
|
7.38%, 02/01/36(e)
|
USD
|
8,700
|
$ 8,663,866
|
|
CSC Holdings LLC(e)
|
|
|
|
|
5.50%, 04/15/27
|
|
1,606
|
1,393,035
|
|
5.38%, 02/01/28
|
|
2,028
|
1,499,810
|
|
11.25%, 05/15/28
|
|
5,767
|
4,712,469
|
|
11.75%, 01/31/29
|
|
2,065
|
1,493,294
|
|
Directv Financing LLC, 8.88%, 02/01/30(e)
|
|
5,183
|
5,171,469
|
|
Directv Financing LLC/Directv Financing Co-Obligor,
Inc.(e)
|
|
|
|
|
5.88%, 08/15/27
|
|
2,201
|
2,198,681
|
|
10.00%, 02/15/31
|
|
3,174
|
3,240,112
|
|
Discovery Communications LLC, 3.95%, 03/20/28
|
|
1,292
|
1,265,772
|
|
DISH DBS Corp.(e)
|
|
|
|
|
5.25%, 12/01/26
|
|
4,217
|
4,180,832
|
|
5.75%, 12/01/28
|
|
5,745
|
5,556,521
|
|
DISH Network Corp., 11.75%, 11/15/27(e)
|
|
7,733
|
7,966,885
|
|
Gray Media, Inc.(e)
|
|
|
|
|
10.50%, 07/15/29
|
|
1,933
|
2,054,103
|
|
9.63%, 07/15/32
|
|
4,148
|
4,147,737
|
|
7.25%, 08/15/33
|
|
4,030
|
4,060,914
|
|
LCPR Senior Secured Financing DAC, 6.75%,
10/15/27(e)
|
|
2,930
|
1,954,854
|
|
Midcontinent Communications, 8.00%, 08/15/32(e)
|
|
884
|
823,313
|
|
Sinclair Television Group, Inc., 8.13%, 02/15/33(e)
|
|
4,778
|
4,857,148
|
|
Sirius XM Radio LLC(e)
|
|
|
|
|
5.00%, 08/01/27
|
|
4,927
|
4,920,122
|
|
4.00%, 07/15/28
|
|
381
|
367,764
|
|
Sunrise FinCo I BV
|
|
|
|
|
4.88%, 07/15/31(e)
|
|
1,470
|
1,399,499
|
|
4.63%, 05/15/32(a)
|
EUR
|
100
|
112,937
|
|
Telenet Finance Luxembourg Notes SARL, 5.50%,
03/01/28(e)
|
USD
|
2,000
|
1,962,625
|
|
Univision Communications, Inc.(e)
|
|
|
|
|
8.00%, 08/15/28
|
|
5,434
|
5,515,467
|
|
8.50%, 07/31/31
|
|
2,416
|
2,427,790
|
|
9.38%, 08/01/32
|
|
1,684
|
1,735,556
|
|
Versant Media Group, Inc., 7.25%, 01/30/31(e)
|
|
662
|
677,492
|
|
Virgin Media O2 Vendor Financing Notes V DAC,
7.88%, 03/15/32(a)
|
GBP
|
100
|
117,247
|
|
Virgin Media Secured Finance PLC(a)
|
|
|
|
|
4.25%, 01/15/30
|
|
100
|
116,959
|
|
4.13%, 08/15/30
|
|
100
|
114,665
|
|
VZ Secured Financing BV
|
|
|
|
|
5.00%, 01/15/32(e)
|
USD
|
322
|
276,017
|
|
5.25%, 01/15/33(a)
|
EUR
|
400
|
426,236
|
|
Ziggo Bond Co. BV, 5.13%, 02/28/30(e)
|
USD
|
897
|
769,702
|
|
Ziggo BV, 4.88%, 01/15/30(e)
|
|
2,174
|
2,030,264
|
|
|
|
|
108,256,503
|
|
Metals & Mining — 3.7%
|
|||
|
Aris Mining Corp., 8.00%, 10/31/29(e)
|
|
362
|
373,132
|
|
Arsenal AIC Parent LLC(e)
|
|
|
|
|
8.00%, 10/01/30
|
|
1,592
|
1,657,538
|
|
11.50%, 10/01/31
|
|
4,744
|
5,125,901
|
|
Carpenter Technology Corp., 5.63%, 03/01/34(e)
|
|
1,479
|
1,465,377
|
|
Cleveland-Cliffs, Inc., 6.88%, 11/01/29(e)
|
|
2,902
|
2,901,740
|
|
Commercial Metals Co.(e)
|
|
|
|
|
5.75%, 11/15/33
|
|
2,271
|
2,247,124
|
|
6.00%, 12/15/35
|
|
2,341
|
2,307,864
|
|
Security
|
|
Par
(000)
|
Value
|
|
Metals & Mining (continued)
|
|||
|
Constellium SE(e)
|
|
|
|
|
5.63%, 06/15/28
|
USD
|
5,540
|
$ 5,512,686
|
|
3.75%, 04/15/29
|
|
2,133
|
2,034,379
|
|
6.38%, 08/15/32
|
|
2,341
|
2,366,376
|
|
ERO Copper Corp., 6.50%, 02/15/30(e)
|
|
2,568
|
2,542,038
|
|
First Quantum Minerals Ltd.(e)
|
|
|
|
|
8.00%, 03/01/33
|
|
865
|
893,692
|
|
7.25%, 02/15/34
|
|
2,022
|
2,047,113
|
|
6.38%, 02/15/36
|
|
4,720
|
4,516,120
|
|
Kaiser Aluminum Corp.(e)
|
|
|
|
|
4.50%, 06/01/31
|
|
4,982
|
4,706,678
|
|
5.88%, 03/01/34
|
|
3,229
|
3,170,452
|
|
New Gold, Inc., 6.88%, 04/01/32(e)
|
|
2,700
|
2,790,607
|
|
Novelis Corp.(e)
|
|
|
|
|
4.75%, 01/30/30
|
|
5,807
|
5,473,097
|
|
6.88%, 01/30/30
|
|
3,539
|
3,569,687
|
|
3.88%, 08/15/31
|
|
4,389
|
3,909,061
|
|
6.38%, 08/15/33
|
|
5,112
|
5,014,323
|
|
Novelis Sheet Ingot GmbH, 3.38%, 04/15/29(a)
|
EUR
|
1,029
|
1,128,576
|
|
Vallourec SACA, 7.50%, 04/15/32(e)
|
USD
|
1,440
|
1,509,139
|
|
|
|
|
67,262,700
|
|
Mortgage Real Estate Investment Trusts (REITs)(e) — 0.4%
|
|||
|
Blackstone Mortgage Trust, Inc., 3.75%, 01/15/27
|
|
1,284
|
1,261,999
|
|
Starwood Property Trust, Inc.
|
|
|
|
|
7.25%, 04/01/29
|
|
879
|
905,044
|
|
6.00%, 04/15/30
|
|
442
|
441,143
|
|
6.50%, 07/01/30
|
|
633
|
646,463
|
|
6.50%, 10/15/30
|
|
3,129
|
3,173,476
|
|
|
|
|
6,428,125
|
|
Multi-Utilities — 0.0%
|
|||
|
AmeriGas Partners LP/AmeriGas Finance Corp., 9.50%,
06/01/30(e)
|
|
672
|
711,928
|
|
Oil, Gas & Consumable Fuels — 10.0%
|
|||
|
Aethon United BR LP/Aethon United Finance Corp.,
7.50%, 10/01/29(e)
|
|
1,728
|
1,802,243
|
|
Antero Midstream Partners LP/Antero Midstream
Finance Corp., 6.63%, 02/01/32(e)
|
|
1,514
|
1,547,367
|
|
Ascent Resources Utica Holdings LLC/ARU Finance
Corp.(e)
|
|
|
|
|
9.00%, 11/01/27
|
|
963
|
1,124,293
|
|
5.88%, 06/30/29
|
|
1,254
|
1,252,839
|
|
6.63%, 07/15/33
|
|
2,061
|
2,096,391
|
|
Azule Energy Finance PLC, 8.25%, 01/22/31(e)
|
|
200
|
201,908
|
|
Blue Racer Midstream LLC/Blue Racer Finance Corp.(e)
|
|
|
|
|
7.00%, 07/15/29
|
|
1,140
|
1,177,700
|
|
7.25%, 07/15/32
|
|
1,418
|
1,472,994
|
|
Breakwater Energy Holdings SARL
|
|
|
|
|
9.25%, 11/15/30(e)
|
|
1,500
|
1,575,276
|
|
9.25%, 11/15/30(a)
|
|
250
|
262,546
|
|
Buckeye Partners LP
|
|
|
|
|
6.88%, 07/01/29(e)
|
|
103
|
106,011
|
|
6.75%, 02/01/30(e)
|
|
386
|
398,356
|
|
5.85%, 11/15/43
|
|
816
|
738,564
|
|
5.60%, 10/15/44
|
|
553
|
484,855
|
|
California Resources Corp., 7.00%, 01/15/34(e)
|
|
779
|
785,358
|
|
Caturus Energy LLC, 8.50%, 02/15/30(e)
|
|
4,561
|
4,732,562
|
|
CD&R Firefly Bidco PLC, 8.63%, 04/30/29(a)
|
GBP
|
224
|
301,414
|
|
Chord Energy Corp., 6.75%, 03/15/33(e)
|
USD
|
601
|
620,498
|
|
CITGO Petroleum Corp., 8.38%, 01/15/29(e)
|
|
2,678
|
2,765,528
|
|
CNX Midstream Partners LP, 4.75%, 04/15/30(e)
|
|
520
|
494,386
|
|
Security
|
|
Par
(000)
|
Value
|
|
Oil, Gas & Consumable Fuels (continued)
|
|||
|
CNX Resources Corp.(e)
|
|
|
|
|
7.25%, 03/01/32
|
USD
|
479
|
$ 493,588
|
|
5.88%, 03/01/34
|
|
1,809
|
1,761,743
|
|
Comstock Resources, Inc.(e)
|
|
|
|
|
6.75%, 03/01/29
|
|
6,247
|
6,166,773
|
|
5.88%, 01/15/30
|
|
59
|
57,087
|
|
CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%,
06/15/31(e)
|
|
9,174
|
8,946,876
|
|
Crescent Energy Finance LLC(e)
|
|
|
|
|
7.75%, 07/31/29
|
|
1,483
|
1,494,122
|
|
9.75%, 10/15/30
|
|
764
|
817,480
|
|
7.63%, 04/01/32
|
|
2,616
|
2,654,793
|
|
7.38%, 01/15/33
|
|
1,402
|
1,401,648
|
|
8.38%, 01/15/34
|
|
1,176
|
1,229,390
|
|
CVR Energy, Inc.(e)
|
|
|
|
|
7.50%, 02/15/31
|
|
787
|
792,877
|
|
7.88%, 02/15/34
|
|
531
|
532,861
|
|
DBR Land Holdings LLC, 6.25%, 12/01/30(e)
|
|
907
|
918,328
|
|
Delek Logistics Partners LP/Delek Logistics Finance
Corp., 7.38%, 06/30/33(e)
|
|
2,180
|
2,198,022
|
|
Diamond Foreign Asset Co./Diamond Finance LLC,
8.50%, 10/01/30(e)
|
|
695
|
734,227
|
|
Enbridge, Inc.(b)
|
|
|
|
|
(5-year CMT + 2.97%), 7.20%, 06/27/54
|
|
810
|
851,928
|
|
(5-year CMT + 3.12%), 7.38%, 03/15/55
|
|
1,104
|
1,159,787
|
|
Energean PLC, 5.63%, 05/12/31(a)
|
EUR
|
107
|
120,327
|
|
Energy Transfer LP(b)
|
|
|
|
|
(5-year CMT + 2.83%), 7.13%, 10/01/54
|
USD
|
1,564
|
1,588,505
|
|
(5-year CMT + 4.02%), 8.00%, 05/15/54
|
|
4,561
|
4,777,164
|
|
Series H, (5-year CMT + 5.69%), 6.50%(g)
|
|
2,085
|
2,080,816
|
|
Genesis Energy LP/Genesis Energy Finance Corp.
|
|
|
|
|
8.00%, 05/15/33
|
|
505
|
521,812
|
|
6.75%, 03/15/34
|
|
3,346
|
3,330,192
|
|
Global Partners LP/GLP Finance Corp., 7.13%,
07/01/33(e)
|
|
685
|
690,592
|
|
Gulfport Energy Operating Corp., 6.75%, 09/01/29(e)
|
|
773
|
790,563
|
|
Harvest Midstream I LP, 7.50%, 05/15/32(e)
|
|
502
|
511,676
|
|
Hilcorp Energy I LP/Hilcorp Finance Co.(e)
|
|
|
|
|
6.25%, 11/01/28
|
|
427
|
427,856
|
|
5.75%, 02/01/29
|
|
957
|
943,613
|
|
6.00%, 04/15/30
|
|
130
|
126,537
|
|
6.25%, 04/15/32
|
|
95
|
91,944
|
|
8.38%, 11/01/33
|
|
2,180
|
2,274,464
|
|
6.88%, 05/15/34
|
|
1,755
|
1,714,618
|
|
7.25%, 02/15/35
|
|
408
|
406,741
|
|
Howard Midstream Energy Partners LLC(e)
|
|
|
|
|
7.38%, 07/15/32
|
|
673
|
695,914
|
|
6.63%, 01/15/34
|
|
1,684
|
1,690,403
|
|
Infinity Natural Resources LLC, 7.63%, 04/01/31(e)
|
|
1,235
|
1,241,521
|
|
Ithaca Energy North Sea PLC, 5.50%, 10/01/31(a)
|
EUR
|
100
|
115,607
|
|
ITT Holdings LLC, 6.50%, 08/01/29(e)
|
USD
|
4,191
|
4,075,069
|
|
Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas
Finance Corp., 6.88%, 12/01/32(e)
|
|
740
|
761,569
|
|
Matador Resources Co.(e)
|
|
|
|
|
6.50%, 04/15/32
|
|
1,546
|
1,562,836
|
|
6.00%, 04/15/34
|
|
1,583
|
1,572,991
|
|
Murphy Oil Corp., 5.88%, 12/01/42
|
|
141
|
119,649
|
|
Nabors Industries, Inc., 7.63%, 11/15/32(e)
|
|
941
|
963,252
|
|
NGL Energy Operating LLC/NGL Energy Finance
Corp.(e)
|
|
|
|
|
8.13%, 02/15/29
|
|
1,248
|
1,285,625
|
|
8.38%, 02/15/32
|
|
4,811
|
4,957,947
|
|
Noble Finance II LLC, 8.00%, 04/15/30(e)
|
|
776
|
798,959
|
|
Security
|
|
Par
(000)
|
Value
|
|
Oil, Gas & Consumable Fuels (continued)
|
|||
|
Northern Oil & Gas, Inc., 7.88%, 10/15/33(e)
|
USD
|
1,963
|
$ 2,031,024
|
|
Northriver Midstream Finance LP, 6.75%, 07/15/32(e)
|
|
873
|
875,576
|
|
PBF Holding Co. LLC/PBF Finance Corp., 7.88%,
09/15/30(e)
|
|
809
|
830,772
|
|
Permian Resources Operating LLC, 6.25%, 02/01/33(e)
|
|
3,946
|
4,019,538
|
|
Prairie Acquiror LP, 9.00%, 08/01/29(e)
|
|
984
|
1,016,458
|
|
SM Energy Co.(e)
|
|
|
|
|
8.75%, 07/01/31
|
|
649
|
678,394
|
|
6.63%, 04/15/34
|
|
3,613
|
3,602,792
|
|
Sunoco LP(e)
|
|
|
|
|
5.63%, 03/15/31
|
|
675
|
671,904
|
|
6.63%, 08/15/32
|
|
1,999
|
2,030,318
|
|
6.25%, 07/01/33
|
|
1,079
|
1,083,701
|
|
5.88%, 03/15/34
|
|
685
|
677,433
|
|
Tallgrass Energy Partners LP/Tallgrass Energy Finance
Corp.(e)
|
|
|
|
|
5.50%, 01/15/28
|
|
1,497
|
1,484,336
|
|
7.38%, 02/15/29
|
|
3,714
|
3,820,729
|
|
6.00%, 09/01/31
|
|
522
|
515,120
|
|
TGNR Intermediate Holdings LLC, 5.50%, 10/15/29(e)
|
|
1,102
|
1,077,483
|
|
TransMontaigne Partners LLC, 8.50%, 06/15/30(e)
|
|
305
|
308,337
|
|
Transocean International Ltd.(e)
|
|
|
|
|
8.25%, 05/15/29
|
|
430
|
444,299
|
|
8.75%, 02/15/30
|
|
349
|
363,339
|
|
8.50%, 05/15/31
|
|
1,583
|
1,660,247
|
|
7.88%, 10/15/32
|
|
1,548
|
1,654,038
|
|
Valaris Ltd., 8.38%, 04/30/30(e)
|
|
1,187
|
1,229,959
|
|
Venture Global LNG, Inc.(e)
|
|
|
|
|
9.50%, 02/01/29
|
|
9,399
|
10,163,086
|
|
8.38%, 06/01/31
|
|
4,970
|
5,168,677
|
|
9.88%, 02/01/32
|
|
7,426
|
7,975,435
|
|
Venture Global Plaquemines LNG LLC(e)
|
|
|
|
|
6.13%, 12/15/30
|
|
4,395
|
4,519,932
|
|
7.50%, 05/01/33
|
|
1,676
|
1,842,266
|
|
6.50%, 01/15/34
|
|
6,882
|
7,174,102
|
|
7.75%, 05/01/35
|
|
3,847
|
4,311,633
|
|
6.75%, 01/15/36
|
|
7,881
|
8,347,177
|
|
Vital Energy, Inc., 7.88%, 04/15/32(e)
|
|
1,528
|
1,561,092
|
|
Wildfire Intermediate Holdings LLC, 7.50%, 10/15/29(e)
|
|
1,935
|
1,960,674
|
|
Wintershall Dea Finance 2 BV, (5-year EURIBOR ICE
Swap + 3.94%), 6.12%(a)(b)(g)
|
EUR
|
176
|
205,579
|
|
|
|
|
179,696,831
|
|
Passenger Airlines — 0.3%
|
|||
|
American Airlines, Inc./AAdvantage Loyalty IP Ltd.,
5.75%, 04/20/29(e)
|
USD
|
283
|
280,955
|
|
Deutsche Lufthansa AG, (5-year EURIBOR ICE Swap +
2.86%), 5.25%, 01/15/55(a)(b)
|
EUR
|
100
|
113,168
|
|
JetBlue Airways Corp./JetBlue Loyalty LP, 9.88%,
09/20/31(e)
|
USD
|
2,141
|
2,023,370
|
|
OneSky Flight LLC, 8.88%, 12/15/29(e)
|
|
1,239
|
1,278,914
|
|
United Airlines Holdings, Inc., 5.38%, 03/01/31
|
|
1,574
|
1,541,444
|
|
|
|
|
5,237,851
|
|
Personal Care Products — 0.1%
|
|||
|
Opal Bidco SAS
|
|
|
|
|
5.50%, 03/31/32(a)
|
EUR
|
100
|
112,815
|
|
6.50%, 03/31/32(e)
|
USD
|
2,524
|
2,526,433
|
|
|
|
|
2,639,248
|
|
Pharmaceuticals — 2.4%
|
|||
|
1261229 B.C. Ltd., 10.00%, 04/15/32(e)
|
|
31,031
|
31,770,903
|
|
Amneal Pharmaceuticals LLC, 6.88%, 08/01/32(e)
|
|
964
|
992,388
|
|
Bausch Health Cos., Inc.(e)
|
|
|
|
|
4.88%, 06/01/28
|
|
221
|
202,372
|
|
Security
|
|
Par
(000)
|
Value
|
|
Pharmaceuticals (continued)
|
|||
|
Bausch Health Cos., Inc.(e) (continued)
|
|
|
|
|
11.00%, 09/30/28
|
USD
|
4,455
|
$ 4,544,272
|
|
Dolcetto Holdco SpA, 5.63%, 07/14/32(a)
|
EUR
|
100
|
114,810
|
|
Grifols SA
|
|
|
|
|
2.25%, 11/15/27(a)
|
|
1,374
|
1,568,213
|
|
4.75%, 10/15/28(e)
|
USD
|
200
|
195,894
|
|
7.13%, 05/01/30(a)
|
EUR
|
141
|
168,465
|
|
Gruenenthal GmbH, 4.63%, 11/15/31(a)
|
|
136
|
154,048
|
|
Nidda Healthcare Holding GmbH(a)
|
|
|
|
|
7.00%, 02/21/30
|
|
215
|
252,715
|
|
(3-mo. EURIBOR + 3.25%), 5.23%, 10/15/32(b)
|
|
169
|
193,784
|
|
Organon & Co./Organon Foreign Debt Co-Issuer BV,
4.13%, 04/30/28(e)
|
USD
|
646
|
626,848
|
|
Rossini SARL(a)
|
|
|
|
|
6.75%, 12/31/29
|
EUR
|
121
|
143,740
|
|
(3-mo. EURIBOR + 3.88%), 6.00%, 12/31/29(b)
|
|
73
|
84,572
|
|
Teva Pharmaceutical Finance Netherlands II BV, 7.88%,
09/15/31
|
|
100
|
134,079
|
|
Teva Pharmaceutical Finance Netherlands III BV
|
|
|
|
|
3.15%, 10/01/26
|
USD
|
674
|
667,482
|
|
6.75%, 03/01/28
|
|
800
|
817,760
|
|
6.00%, 12/01/32
|
|
495
|
507,385
|
|
|
|
|
43,139,730
|
|
Real Estate Management & Development — 0.6%
|
|||
|
Adler Financing SARL, Series 1L, (8.25% PIK), 8.25%,
12/31/28(f)
|
EUR
|
287
|
366,440
|
|
Alexandrite Lake Lux Holdings SARL, 6.75%,
07/30/30(a)
|
|
112
|
126,543
|
|
Anywhere Real Estate Group LLC/Anywhere Co-Issuer
Corp.
|
|
|
|
|
7.00%, 04/15/30(e)
|
USD
|
124
|
123,718
|
|
Series AI, 7.00%, 04/15/30
|
|
1,009
|
1,010,203
|
|
Anywhere Real Estate Group LLC/Realogy Co-Issuer
Corp., 9.75%, 04/15/30(e)
|
|
725
|
769,634
|
|
Aroundtown Finance SARL, (5-year EURIBOR ICE
Swap + 3.43%), 5.25%(a)(b)(g)
|
EUR
|
275
|
289,240
|
|
CoreLogic, Inc., 4.50%, 05/01/28(e)
|
USD
|
2,658
|
2,495,274
|
|
Cushman & Wakefield U.S. Borrower LLC, 8.88%,
09/01/31(e)
|
|
490
|
519,045
|
|
DEMIRE Deutsche Mittelstand Real Estate AG, 5.00%,
12/31/27(a)(k)
|
EUR
|
88
|
93,039
|
|
Five Point Operating Co. LP, 8.00%, 10/01/30(e)
|
USD
|
456
|
454,927
|
|
Grand City Properties SA, (5-year EURIBOR ICE Swap
+ 2.18%), 1.50%(a)(b)(g)
|
EUR
|
100
|
113,252
|
|
Howard Hughes Corp.(e)
|
|
|
|
|
4.38%, 02/01/31
|
USD
|
2,103
|
1,930,660
|
|
5.88%, 03/01/32
|
|
883
|
849,698
|
|
6.13%, 03/01/34
|
|
883
|
847,971
|
|
New Immo Holding SA(a)
|
|
|
|
|
3.25%, 07/23/27
|
EUR
|
200
|
226,609
|
|
5.88%, 04/17/28
|
|
100
|
115,799
|
|
4.95%, 11/14/30
|
|
100
|
111,118
|
|
Vivion Investments SARL(a)
|
|
|
|
|
5.63%, 06/08/30
|
|
100
|
108,029
|
|
(6.50% Cash and 1.75% PIK), 8.25%, 08/31/28(f)
|
|
25
|
29,443
|
|
(6.50% PIK), 6.50%, 02/28/29(f)
|
|
152
|
175,809
|
|
|
|
|
10,756,451
|
|
Retail REITs — 0.1%
|
|||
|
Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR
Nimbus LLC/GGSI Sellco LLC, 4.50%, 04/01/27(e)
|
USD
|
1,801
|
1,766,552
|
|
Semiconductors & Semiconductor Equipment — 0.2%
|
|||
|
Amkor Technology, Inc., 5.88%, 10/01/33(e)
|
|
416
|
414,298
|
|
Security
|
|
Par
(000)
|
Value
|
|
Semiconductors & Semiconductor Equipment (continued)
|
|||
|
Kioxia Holdings Corp., 6.63%, 07/24/33
|
USD
|
587
|
$ 603,333
|
|
Microchip Technology, Inc., 0.00%, 02/15/30(e)(i)(j)
|
|
466
|
454,583
|
|
MKS, Inc., 4.25%, 02/15/34(a)
|
EUR
|
145
|
160,125
|
|
ON Semiconductor Corp., 0.50%, 03/01/29(i)
|
USD
|
1,259
|
1,230,672
|
|
|
|
|
2,863,011
|
|
Software — 3.3%
|
|||
|
AthenaHealth Group, Inc., 6.50%, 02/15/30(e)
|
|
8,228
|
7,722,996
|
|
Capstone Borrower, Inc., 8.00%, 06/15/30(e)
|
|
1,364
|
1,303,275
|
|
Central Parent LLC/CDK Global II LLC/CDK Financing
Co., Inc., 8.00%, 06/15/29(e)
|
|
157
|
116,680
|
|
Central Parent, Inc./CDK Global, Inc., 7.25%,
06/15/29(e)
|
|
1,596
|
1,148,662
|
|
Cloud Software Group, Inc.(e)
|
|
|
|
|
6.50%, 03/31/29
|
|
9,023
|
8,802,571
|
|
9.00%, 09/30/29
|
|
9,951
|
9,599,467
|
|
8.25%, 06/30/32
|
|
39
|
36,989
|
|
Ellucian Holdings, Inc., 6.50%, 12/01/29(e)
|
|
1,816
|
1,773,803
|
|
IPD 3 BV, 5.50%, 06/15/31(a)
|
EUR
|
200
|
217,102
|
|
OAK-Eagle Acquireco, Inc.(l)
|
|
|
|
|
07/01/33(a)
|
|
157
|
185,353
|
|
07/01/33(e)
|
USD
|
6,854
|
7,101,391
|
|
07/01/34(e)
|
|
6,726
|
7,041,393
|
|
Oracle Corp.
|
|
|
|
|
5.70%, 02/04/36
|
|
1,770
|
1,701,834
|
|
5.88%, 09/26/45
|
|
463
|
399,449
|
|
5.95%, 09/26/55
|
|
620
|
521,588
|
|
6.70%, 02/04/56
|
|
2,860
|
2,654,376
|
|
6.10%, 09/26/65
|
|
620
|
514,093
|
|
6.85%, 02/04/66
|
|
1,075
|
988,271
|
|
Playtika Holding Corp., 4.25%, 03/15/29(e)
|
|
421
|
328,506
|
|
SS&C Technologies, Inc., 6.50%, 06/01/32(e)
|
|
2,542
|
2,542,086
|
|
TeamSystem SpA, (3-mo. EURIBOR + 3.25%), 5.27%,
07/01/32(a)(b)
|
EUR
|
114
|
123,856
|
|
UKG, Inc., 6.88%, 02/01/31(e)
|
USD
|
3,740
|
3,655,160
|
|
|
|
|
58,478,901
|
|
Specialty Retail — 0.4%
|
|||
|
Advance Auto Parts, Inc., 7.00%, 08/01/30(e)
|
|
924
|
936,055
|
|
Afflelou SAS, 6.00%, 07/25/29(a)
|
EUR
|
152
|
178,617
|
|
Bubbles Bidco SpA(a)
|
|
|
|
|
6.50%, 09/30/31
|
|
123
|
142,080
|
|
(3-mo. EURIBOR + 4.25%), 6.38%, 09/30/31(b)
|
|
120
|
138,754
|
|
Duomo Bidco SpA, (3-mo. EURIBOR + 3.25%), 5.31%,
01/15/32(a)(b)
|
|
100
|
113,686
|
|
Ferrellgas LP/Ferrellgas Finance Corp., 9.25%,
01/15/31(e)
|
USD
|
898
|
935,662
|
|
Goldstory SAS, 6.75%, 02/01/30(a)
|
EUR
|
100
|
112,998
|
|
Michaels Cos., Inc., 8.50%, 03/15/33(e)
|
USD
|
2,948
|
2,869,860
|
|
PetSmart LLC/PetSmart Finance Corp., 7.50%,
09/15/32(e)
|
|
250
|
251,217
|
|
Staples, Inc., 10.75%, 09/01/29(e)
|
|
915
|
846,210
|
|
Stonegate Pub Co. Financing PLC, (3-mo. EURIBOR +
6.63%), 8.62%, 07/31/29(a)(b)
|
EUR
|
100
|
113,068
|
|
Suburban Propane Partners LP/Suburban Energy
Finance Corp., 5.00%, 06/01/31(e)
|
USD
|
418
|
393,287
|
|
|
|
|
7,031,494
|
|
Security
|
|
Par
(000)
|
Value
|
|
Technology Hardware, Storage & Peripherals(e) — 0.1%
|
|||
|
Seagate Data Storage Technology Pte. Ltd.
|
|
|
|
|
5.88%, 07/15/30
|
USD
|
853
|
$ 867,024
|
|
5.75%, 12/01/34
|
|
498
|
496,132
|
|
|
|
|
1,363,156
|
|
Textiles, Apparel & Luxury Goods — 0.7%
|
|||
|
Beach Acquisition Bidco LLC
|
|
|
|
|
5.25%, 07/15/32(e)
|
EUR
|
2,729
|
3,025,278
|
|
5.25%, 07/15/32(a)
|
|
100
|
110,856
|
|
(10.00% Cash or 10.75% PIK), 10.00%, 07/15/33(e)(f)
|
USD
|
6,417
|
6,834,249
|
|
Crocs, Inc.(e)
|
|
|
|
|
4.25%, 03/15/29
|
|
217
|
208,280
|
|
4.13%, 08/15/31
|
|
282
|
253,753
|
|
European TopSoho SARL, 4.00%, 09/21/21(a)(d)(h)(i)
|
EUR
|
200
|
172,147
|
|
Levi Strauss & Co., 4.00%, 08/15/30(e)
|
|
903
|
1,036,779
|
|
PrestigeBidCo GmbH, (3-mo. EURIBOR + 3.75%),
5.77%, 07/01/29(a)(b)
|
|
200
|
230,880
|
|
|
|
|
11,872,222
|
|
Transportation Infrastructure — 0.1%
|
|||
|
Edge Finco PLC, 8.13%, 08/15/31(a)
|
GBP
|
206
|
281,262
|
|
Mobico Group PLC, 4.88%, 09/26/31(a)
|
EUR
|
110
|
98,425
|
|
Ocado Group PLC, 11.00%, 06/15/30(a)
|
GBP
|
100
|
131,969
|
|
RXO, Inc., 6.38%, 05/15/31(e)
|
USD
|
742
|
711,955
|
|
SGL Group ApS, (3-mo. EURIBOR + 4.75%), 6.78%,
04/22/30(b)
|
EUR
|
193
|
207,468
|
|
|
|
|
1,431,079
|
|
Wireless Telecommunication Services — 2.1%
|
|||
|
Altice France SA
|
|
|
|
|
4.75%, 10/15/30(a)
|
|
152
|
166,785
|
|
6.88%, 10/15/30(e)
|
USD
|
356
|
340,982
|
|
6.50%, 10/15/31(e)
|
|
2,019
|
1,914,865
|
|
6.50%, 04/15/32(e)
|
|
5,461
|
5,174,006
|
|
5.63%, 07/15/32(a)
|
EUR
|
47
|
51,188
|
|
6.88%, 07/15/32(e)
|
USD
|
5,063
|
4,797,090
|
|
Digicel International Finance Ltd./Difl U.S. LLC, 8.63%,
08/01/32(e)
|
|
6,664
|
6,762,611
|
|
Iliad Holding SAS
|
|
|
|
|
7.00%, 10/15/28(e)
|
|
828
|
833,343
|
|
5.38%, 04/15/30(a)
|
EUR
|
169
|
197,629
|
|
6.88%, 04/15/31(a)
|
|
101
|
121,620
|
|
8.50%, 04/15/31(e)
|
USD
|
2,959
|
3,096,040
|
|
7.00%, 04/15/32(e)
|
|
3,781
|
3,785,530
|
|
Vmed O2 U.K. Financing I PLC
|
|
|
|
|
4.00%, 01/31/29(a)
|
GBP
|
200
|
247,652
|
|
4.25%, 01/31/31(e)
|
USD
|
6,505
|
5,586,748
|
|
4.50%, 07/15/31(a)
|
GBP
|
201
|
222,965
|
|
4.75%, 07/15/31(e)
|
USD
|
1,000
|
860,366
|
|
5.63%, 04/15/32(a)
|
EUR
|
100
|
105,884
|
|
6.75%, 01/15/33(e)
|
USD
|
3,534
|
3,157,436
|
|
Zegona Finance PLC, 6.75%, 07/15/29(a)
|
EUR
|
239
|
287,176
|
|
|
|
|
37,709,916
|
|
Total Corporate Bonds — 114.3%
(Cost: $2,049,470,293)
|
2,048,347,312
|
||
|
Fixed Rate Loan Interests
|
|||
|
IT Services — 0.4%
|
|||
|
Clover Holdings 2 LLC, Fixed Term Loan B, 7.75%,
12/09/31
|
USD
|
7,895
|
7,431,331
|
|
Security
|
|
Par
(000)
|
Value
|
|
Software — 0.5%
|
|||
|
Cotiviti, Inc., 2024 Fixed Term Loan B, 7.63%, 05/01/31
|
USD
|
8,712
|
$ 8,101,829
|
|
Total Fixed Rate Loan Interests — 0.9%
(Cost: $16,606,817)
|
15,533,160
|
||
|
Floating Rate Loan Interests(b)
|
|||
|
Advertising Agencies — 0.0%
|
|||
|
Summer BC Holdco B SARL, 2024 USD Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 5.00%),
8.96%, 02/15/29
|
|
448
|
380,421
|
|
Aerospace & Defense — 0.1%
|
|||
|
Air Comm Corp. LLC, 2025 Delayed Draw Term Loan,
12/11/31(m)
|
|
36
|
35,862
|
|
Arcline FM Holdings LLC, 2025 1st Lien Term Loan,
(3-mo. CME Term SOFR at 0.75% Floor + 2.75%),
6.45%, 06/23/30
|
|
—
(n)
|
409
|
|
Cubic Corp.
|
|
|
|
|
2025 Second Out Term Loan B, (3-mo. CME Term
SOFR at 0.75% Floor + 4.25%), 8.18%, 05/25/29
|
|
827
|
164,294
|
|
2025 Second Out Term Loan C, (3-mo. CME Term
SOFR at 0.75% Floor + 1.00%), 4.93%, 05/25/29
|
|
105
|
20,839
|
|
Kaman Corp.
|
|
|
|
|
2025 Delayed Draw Term Loan, 0.00%, 02/26/32
|
|
22
|
21,852
|
|
2025 Term Loan B, (1-mo. CME Term SOFR at
0.50% Floor + 2.50%), 6.17%, 02/26/32
|
|
1,180
|
1,180,197
|
|
Propulsion BC Finco SARL, 2025 Repriced Term Loan
B, (3-mo. CME Term SOFR at 0.50% Floor + 2.50%),
6.20%, 12/01/32
|
|
327
|
326,655
|
|
Signia Aerospace LLC, 2025 Term Loan, (3-mo. CME
Term SOFR at 0.50% Floor + 2.75%), 6.42%,
12/11/31
|
|
733
|
733,829
|
|
|
|
|
2,483,937
|
|
Automobile Components — 0.3%
|
|||
|
Champions Financing, Inc., 2024 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 4.75%), 8.42%,
02/23/29
|
|
1,747
|
1,510,640
|
|
Clarios Global LP, 2025 USD Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.75%), 6.42%,
01/28/32
|
|
2,205
|
2,197,468
|
|
Tenneco, Inc.
|
|
|
|
|
2022 Term Loan A, (3-mo. CME Term SOFR at 0.50%
Floor + 4.75%), 8.51%, 11/17/28
|
|
162
|
157,718
|
|
2022 Term Loan B, (3-mo. CME Term SOFR +
5.00%), 8.76%, 11/17/28
|
|
1,015
|
988,052
|
|
|
|
|
4,853,878
|
|
Automobiles — 0.0%
|
|||
|
MajorDrive Holdings IV LLC, Term Loan B, (3-mo. CME
Term SOFR at 0.50% Floor + 4.00%), 7.96%,
06/01/28
|
|
305
|
275,749
|
|
Broadline Retail — 0.2%
|
|||
|
Boots Group Finco LP, USD Term Loan, (3-mo. CME
Term SOFR at 0.00% Floor + 3.25%), 6.92%,
08/30/32
|
|
4,379
|
4,389,973
|
|
Building Products — 0.3%
|
|||
|
Chariot Buyer LLC, 2025 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.75%), 6.42%,
09/08/32
|
|
238
|
235,239
|
|
Security
|
|
Par
(000)
|
Value
|
|
Building Products (continued)
|
|||
|
CP Atlas Buyer, Inc., 2025 Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 5.25%), 8.92%, 07/08/30
|
USD
|
527
|
$ 483,406
|
|
White Cap Supply Holdings LLC, 2024 Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 3.25%),
6.92%, 10/19/29
|
|
3,624
|
3,477,899
|
|
Wilsonart LLC, 2024 Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 4.25%), 7.95%, 08/05/31
|
|
1,429
|
1,239,400
|
|
|
|
|
5,435,944
|
|
Capital Markets — 0.1%
|
|||
|
Ardonagh Group Finco Pty. Ltd., 2024 USD Term Loan
B, (6-mo. CME Term SOFR at 0.00% Floor + 2.75%),
6.37%, 02/15/31
|
|
1,081
|
1,054,350
|
|
Jupiter Borrower, Inc., Term Loan B, 03/25/33(c)(m)
|
|
661
|
659,348
|
|
OVG Business Services LLC, 2024 Term Loan B, (1-mo.
CME Term SOFR + 3.00%), 6.67%, 06/25/31
|
|
61
|
61,129
|
|
|
|
|
1,774,827
|
|
Chemicals — 0.5%
|
|||
|
Advancion Holdings LLC
|
|
|
|
|
2020 2nd Lien Term Loan, (3-mo. CME Term SOFR +
7.75%), 11.52%, 11/24/28
|
|
443
|
397,128
|
|
2020 USD Term Loan, (3-mo. CME Term SOFR +
4.00%), 7.77%, 11/24/27
|
|
286
|
272,692
|
|
Discovery Purchaser Corp., Term Loan, (3-mo. CME
Term SOFR at 0.50% Floor + 3.75%), 7.42%,
10/04/29
|
|
2,187
|
2,147,834
|
|
Lonza Group AG, USD Term Loan B, (3-mo. CME Term
SOFR at 0.75% Floor + 3.93%), 7.72%, 07/03/28
|
|
1,732
|
1,508,047
|
|
Olympus Water U.S. Holding Corp., 2025 USD Term
Loan B, (3-mo. CME Term SOFR at 0.00% Floor +
3.25%), 6.95%, 11/03/32
|
|
2,106
|
2,024,463
|
|
Oxea Corp., 2017 USD Term Loan B2, (3-mo. CME
Term SOFR at 0.00% Floor + 4.75%), 8.50%,
04/08/31
|
|
743
|
508,889
|
|
WR Grace Holdings LLC, 2025 Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 3.00%), 6.70%,
08/19/32
|
|
1,395
|
1,389,150
|
|
|
|
|
8,248,203
|
|
Commercial Services & Supplies — 0.2%
|
|||
|
Allied Universal Holdco LLC, 2025 USD Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 3.25%),
6.92%, 08/20/32
|
|
2,809
|
2,807,650
|
|
LABL, Inc., 2026 USD Interim New Money DIP Term
Loan, (3-mo. CME Term SOFR at 0.50% Floor +
6.75%), 10.38%, 12/02/26
|
|
439
|
437,300
|
|
|
|
|
3,244,950
|
|
Communications Equipment — 0.0%
|
|||
|
Radiate Holdco LLC
|
|
|
|
|
2025 Delayed Draw Term Loan, (1-mo. CME Term
SOFR at 1.00% Floor + 4.00%), 7.67%, 06/26/29
|
|
23
|
22,725
|
|
2025 Term Loan, (1-mo. CME Term SOFR at 1.00%
Floor + 4.00%), 7.67%, 06/26/29
|
|
23
|
22,725
|
|
|
|
|
45,450
|
|
Construction & Engineering — 0.3%
|
|||
|
Azuria Water Solutions, Inc.
|
|
|
|
|
2026 Delayed Draw Term Loan, 01/27/33(m)
|
|
122
|
120,273
|
|
Security
|
|
Par
(000)
|
Value
|
|
Construction & Engineering (continued)
|
|||
|
Azuria Water Solutions, Inc. (continued)
|
|
|
|
|
2026 Term Loan B, (3-mo. CME Term SOFR at
0.00% Floor + 2.75%), 6.42%, 01/27/33
|
USD
|
912
|
$ 902,045
|
|
Brand Industrial Services, Inc., 2024 Term Loan B, (3-
mo. CME Term SOFR at 0.50% Floor + 4.50%),
8.16%, 08/01/30
|
|
4,826
|
4,130,646
|
|
|
|
|
5,152,964
|
|
Construction Materials — 0.1%
|
|||
|
White Cap Buyer LLC, 2026 Incremental Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 3.50%),
7.17%, 02/10/33
|
|
1,001
|
950,119
|
|
Consumer Discretionary — 0.0%
|
|||
|
Jupiter Buyer, Inc., 2024 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 4.00%), 7.70%,
11/01/31
|
|
348
|
347,537
|
|
Consumer Staples Distribution & Retail — 0.2%
|
|||
|
BCPE Empire Holdings, Inc., 2026 10th Amendment
Term Loan, (1-mo. CME Term SOFR + 3.50%),
7.17%, 12/29/32
|
|
3,027
|
2,975,935
|
|
Containers & Packaging — 0.3%
|
|||
|
LABL, Inc., 2021 USD 1st Lien Term Loan, 0.00%,
10/30/28(d)(h)
|
|
2,771
|
1,256,397
|
|
Mauser Packaging Solutions Holding Co., 2025 Term
Loan B, (3-mo. CME Term SOFR at 0.00% Floor +
3.50%), 7.16%, 04/15/30
|
|
3,901
|
3,763,060
|
|
|
|
|
5,019,457
|
|
Diversified Consumer Services — 0.1%
|
|||
|
Wand NewCo 3, Inc., 2025 Repriced Term Loan B, (1-
mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.17%, 01/30/31
|
|
1,229
|
1,217,515
|
|
Diversified Telecommunication Services — 1.0%
|
|||
|
Coral-U.S. Co-Borrower LLC, 2025 Term Loan B7, (3-
mo. CME Term SOFR at 0.00% Floor + 3.25%),
6.92%, 01/31/32
|
|
2,146
|
2,105,110
|
|
Level 3 Financing, Inc., 2025 Repriced Term Loan B4,
(1-mo. CME Term SOFR at 0.00% Floor + 3.25%),
6.92%, 03/29/32
|
|
5,171
|
5,165,622
|
|
Virgin Media Bristol LLC, 2020 USD Term Loan Q, (1-
mo. CME Term SOFR + 3.25%), 7.04%, 01/31/29
|
|
200
|
192,312
|
|
Zayo Group Holdings, Inc., 2025 USD Term Loan, (1-
mo. CME Term SOFR at 0.00% Floor + 3.00% and
0.50% PIK), 7.17%, 03/11/30(f)
|
|
10,049
|
9,851,496
|
|
|
|
|
17,314,540
|
|
Financial Services — 0.1%
|
|||
|
Acuren Delaware Holdco, Inc., 2025 Term Loan, (1-mo.
CME Term SOFR at 0.00% Floor + 2.75%), 6.42%,
07/30/31
|
|
241
|
240,640
|
|
Security
|
|
Par
(000)
|
Value
|
|
Financial Services (continued)
|
|||
|
LBM Acquisition LLC, 2024 Incremental Term Loan B,
(1-mo. CME Term SOFR at 0.75% Floor + 3.75%),
7.50%, 06/06/31
|
USD
|
1,755
|
$ 1,399,402
|
|
Summit Acquisition, Inc., 2025 Add-on Term Loan, (1-
mo. CME Term SOFR at 0.00% Floor + 3.50%),
7.17%, 10/16/31(c)
|
|
698
|
696,324
|
|
|
|
|
2,336,366
|
|
Ground Transportation — 0.0%
|
|||
|
Hertz Corp.
|
|
|
|
|
2021 Term Loan B, (1-mo. CME Term SOFR +
3.50%), 7.28%, 06/30/28
|
|
633
|
467,322
|
|
2021 Term Loan C, (1-mo. CME Term SOFR +
3.50%), 7.28%, 06/30/28
|
|
126
|
92,712
|
|
|
|
|
560,034
|
|
Health Care Equipment & Supplies — 0.5%
|
|||
|
AthenaHealth Group, Inc., 2022 Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 2.75%), 6.42%,
02/15/29
|
|
1,601
|
1,569,289
|
|
Bausch & Lomb Corporation, 2025 Repriced Term Loan,
(1-mo. CME Term SOFR at 0.00% Floor + 3.75%),
7.42%, 01/15/31
|
|
3,401
|
3,404,884
|
|
Hologic Inc., 2026 USD Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 2.25%), 5.92%, 01/14/33
|
|
3,346
|
3,304,175
|
|
|
|
|
8,278,348
|
|
Health Care Providers & Services — 0.4%
|
|||
|
LifePoint Health, Inc.
|
|
|
|
|
2024 1st Lien Term Loan B, (3-mo. CME Term SOFR
at 0.00% Floor + 3.75%), 7.42%, 05/19/31
|
|
2,165
|
2,164,583
|
|
2024 Incremental Term Loan B1, (3-mo. CME Term
SOFR at 0.00% Floor + 3.50%), 7.15%, 05/19/31
|
|
750
|
749,136
|
|
Quorum Health Corp., 2020 Term Loan, (3-mo. CME
Term SOFR at 1.00% Floor + 6.50% and 4.75% PIK),
15.00%, 01/28/28(c)(f)
|
|
1,696
|
1,127,643
|
|
Star Parent, Inc., Term Loan B, (3-mo. CME Term SOFR
at 0.00% Floor + 4.00%), 7.70%, 09/27/30
|
|
2,612
|
2,579,575
|
|
|
|
|
6,620,937
|
|
Hotels, Restaurants & Leisure — 0.0%
|
|||
|
Great Canadian Gaming Corp., 2024 Term Loan B, (3-
mo. CME Term SOFR at 0.00% Floor + 4.75%),
8.44%, 11/01/29
|
|
532
|
522,574
|
|
Household Durables — 0.0%
|
|||
|
Springs Windows Fashions LLC, 2024 FLFO Delayed
Draw Term Loan, (1-mo. CME Term SOFR at 1.00%
Floor + 4.50%), 8.17%, 12/19/29
|
|
134
|
132,776
|
|
SWF Holdings I Corp., 2024 FLFO A1 Term Loan, (1-
mo. CME Term SOFR at 1.00% Floor + 4.50%),
8.17%, 12/19/29
|
|
201
|
199,164
|
|
|
|
|
331,940
|
|
Industrial Conglomerates — 0.2%
|
|||
|
Heritage Environmental Services, Inc., 2026 Term Loan
B, (3-mo. CME Term SOFR at 0.00% Floor + 3.00%),
6.68%, 04/01/33(c)
|
|
446
|
446,000
|
|
Security
|
|
Par
(000)
|
Value
|
|
Industrial Conglomerates (continued)
|
|||
|
LSF12 Crown U.S. Commercial Bidco LLC, 2026 Term
Loan B, (1-mo. CME Term SOFR at 0.00% Floor +
3.00%), 6.67%, 12/02/31
|
USD
|
1,306
|
$ 1,306,025
|
|
Resilience Parent LLC, 1st Lien Term Loan, (6-mo. CME
Term SOFR at 0.00% Floor + 2.50%), 6.10%,
02/28/33
|
|
1,418
|
1,409,577
|
|
|
|
|
3,161,602
|
|
Insurance — 0.2%
|
|||
|
Asurion LLC, 2025 Term Loan B13, (1-mo. CME Term
SOFR at 0.00% Floor + 4.25%), 7.92%, 09/19/30
|
|
1,647
|
1,626,470
|
|
Hyperion Insurance Group Ltd., 2025 Term Loan B,
(1-mo. CME Term SOFR at 0.50% Floor + 2.75%),
6.42%, 04/18/30
|
|
167
|
162,409
|
|
Jones DesLauriers Insurance Management Inc.,
2026 Repriced Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 3.00%), 6.66%, 02/02/33
|
|
1,055
|
1,023,284
|
|
Truist Insurance Holdings LLC, 2nd Lien Term Loan,
(3-mo. CME Term SOFR at 0.00% Floor + 4.75%),
8.45%, 05/06/32
|
|
1,462
|
1,444,718
|
|
|
|
|
4,256,881
|
|
Interactive Media & Services — 0.1%
|
|||
|
Camelot U.S. Acquisition LLC, 2025 Incremental Term
Loan B, (1-mo. CME Term SOFR at 0.00% Floor +
3.25%), 6.92%, 01/31/31
|
|
1,352
|
1,170,256
|
|
IT Services — 0.1%
|
|||
|
Fortress Intermediate 3, Inc., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 3.00%), 6.67%,
06/27/31(c)
|
|
574
|
568,882
|
|
Neptune Bidco U.S., Inc., 2026 USD Term Loan B, (3-
mo. CME Term SOFR at 0.50% Floor + 5.00%),
8.76%, 02/03/33
|
|
1,028
|
979,684
|
|
|
|
|
1,548,566
|
|
Leisure Products — 0.0%
|
|||
|
City Football Group Ltd., 2024 Term Loan, (1-mo. CME
Term SOFR at 0.50% Floor + 3.50%), 7.96%,
07/22/30
|
|
898
|
895,111
|
|
Machinery — 0.3%
|
|||
|
CompoSecure Holdings LLC, Term Loan, (1-mo. CME
Term SOFR at 0.00% Floor + 2.25%), 5.93%,
01/14/33
|
|
2,288
|
2,278,001
|
|
GrafTech Global Enterprises, Inc., 2024 Term Loan,
(3-mo. CME Term SOFR at 2.00% Floor + 6.00%),
9.67%, 12/21/29
|
|
468
|
441,989
|
|
LSF12 Helix Parent LLC, USD Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 3.50%), 7.17%,
02/10/33
|
|
1,730
|
1,704,675
|
|
PECF USS Intermediate Holding III Corp., 2026 Term
Loan, (3-mo. CME Term SOFR at 2.00% Floor +
7.50%), 11.17%, 03/03/33
|
|
118
|
112,914
|
|
Tega MC Australia Holdings Pty. Ltd., Term Loan B,
03/25/33(c)(m)
|
|
529
|
525,033
|
|
|
|
|
5,062,612
|
|
Media — 0.8%
|
|||
|
Altice France SA, 2025 USD Term Loan B14, (3-mo.
CME Term SOFR at 0.00% Floor + 6.88%), 10.55%,
05/31/31
|
|
1,479
|
1,479,979
|
|
Security
|
|
Par
(000)
|
Value
|
|
Media (continued)
|
|||
|
Clear Channel Outdoor Holdings, Inc., 2024 Term Loan,
(1-mo. CME Term SOFR at 0.00% Floor + 4.00%),
7.78%, 08/23/28
|
USD
|
4,263
|
$ 4,268,512
|
|
CMG Media Corp., 2024 Term Loan, (3-mo. CME Term
SOFR at 0.00% Floor + 3.50%), 7.30%, 06/18/29
|
|
1,442
|
1,346,924
|
|
CSC Holdings LLC, 2019 Term Loan B5, (Prime +
1.50%), 8.25%, 04/15/27
|
|
2,229
|
1,959,191
|
|
Directv Financing LLC, 2025 Term Loan B, (3-mo. CME
Term SOFR at 0.75% Floor + 5.50%), 9.17%,
02/17/31
|
|
3,177
|
3,176,220
|
|
Gray Media, Inc.
|
|
|
|
|
2021 Term Loan D, (1-mo. CME Term SOFR +
3.00%), 6.78%, 12/01/28
|
|
700
|
699,534
|
|
2024 Term Loan B, (1-mo. CME Term SOFR +
5.25%), 8.92%, 06/04/29
|
|
5
|
4,820
|
|
Radiate Holdco LLC, 2025 FLFO Term Loan, (1-mo.
CME Term SOFR at 0.00% Floor + 3.50% and 1.50%
PIK), 8.78%, 09/25/29(f)
|
|
2,049
|
1,817,680
|
|
|
|
|
14,752,860
|
|
Oil, Gas & Consumable Fuels — 0.0%
|
|||
|
NGL Energy Partners LP, 2026 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 3.50%), 7.18%,
03/11/33
|
|
723
|
723,000
|
|
Pharmaceuticals — 0.2%
|
|||
|
Amneal Pharmaceuticals LLC, 2026 Term Loan, (1-mo.
CME Term SOFR at 0.50% Floor + 3.00%), 6.67%,
08/01/32
|
|
1,731
|
1,735,763
|
|
Endo Finance Holdings, Inc., 2024 1st Lien Term Loan,
(1-mo. CME Term SOFR at 0.50% Floor + 3.75%),
7.42%, 04/23/31
|
|
1,032
|
1,025,079
|
|
|
|
|
2,760,842
|
|
Professional Services — 0.2%
|
|||
|
Amentum Holdings, Inc., 2024 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 5.67%,
09/29/31
|
|
207
|
206,685
|
|
CoreLogic, Inc., Term Loan, (1-mo. CME Term SOFR at
0.50% Floor + 3.50%), 7.28%, 06/02/28
|
|
2,429
|
2,317,908
|
|
Galaxy U.S. Opco, Inc., Term Loan, (3-mo. CME Term
SOFR at 0.50% Floor + 2.00% and 3.25% PIK),
9.42%, 07/31/30(f)
|
|
937
|
805,152
|
|
|
|
|
3,329,745
|
|
Software — 0.2%
|
|||
|
CoreLogic, Inc., 2nd Lien Term Loan, (1-mo. CME Term
SOFR + 6.50%), 10.28%, 06/04/29
|
|
460
|
427,722
|
|
McAfee Corp., 2024 USD 1st Lien Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 3.00%), 6.67%,
03/01/29
|
|
2,119
|
1,885,586
|
|
Proofpoint, Inc., 2025 Repriced Term Loan, (3-mo. CME
Term SOFR at 0.50% Floor + 3.00%), 6.70%,
08/31/28
|
|
287
|
276,988
|
|
Sabre GLBL, Inc.
|
|
|
|
|
2024 Term Loan B1, (1-mo. CME Term SOFR at
0.50% Floor + 6.00%), 9.77%, 11/15/29
|
|
319
|
249,063
|
|
Security
|
|
Par
(000)
|
Value
|
|
Software (continued)
|
|||
|
Sabre GLBL, Inc. (continued)
|
|
|
|
|
2024 Term Loan B2, (1-mo. CME Term SOFR at
0.50% Floor + 6.00%), 9.77%, 11/15/29
|
USD
|
166
|
$ 129,978
|
|
2025 11th Amendment Term Loan B2, (1-mo. CME
Term SOFR at 0.50% Floor + 6.25%), 10.02%,
07/30/29
|
|
101
|
79,132
|
|
|
|
|
3,048,469
|
|
Specialty Retail — 0.0%
|
|||
|
Hunter Douglas, Inc., 2025 USD Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 3.00%), 6.70%,
01/20/32
|
|
466
|
463,646
|
|
Wireless Telecommunication Services — 0.1%
|
|||
|
Digicel International Finance Ltd., 2025 Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 5.25%),
8.92%, 08/06/32
|
|
1,551
|
1,547,560
|
|
Windstream Services LLC, 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 4.00%), 7.67%,
10/06/32
|
|
1,154
|
1,153,392
|
|
|
|
|
2,700,952
|
|
Total Floating Rate Loan Interests — 7.1%
(Cost: $131,129,962)
|
126,636,140
|
||
|
|
|
Shares
|
|
|
Investment Companies
|
|||
|
Fixed Income Funds — 1.2%
|
|
||
|
iShares Broad USD High Yield Corporate Bond
ETF(o)(p)
|
|
572,663
|
21,096,905
|
|
Total Investment Companies — 1.2%
(Cost: $20,910,572)
|
21,096,905
|
||
|
|
|
Par
(000)
|
|
|
Preferred Securities
|
|||
|
Capital Trusts — 6.1%(b)
|
|||
|
Automobile Components — 0.1%
|
|
||
|
Aptiv Swiss Holdings Ltd., 6.88%, 12/15/54
|
USD
|
1,200
|
1,211,181
|
|
Automobiles(a)(g) — 0.0%
|
|
||
|
Stellantis NV
|
|
|
|
|
6.25%
|
EUR
|
150
|
165,486
|
|
6.88%
|
|
125
|
136,196
|
|
8.25%
|
GBP
|
125
|
158,113
|
|
Volkswagen International Finance NV
|
|
|
|
|
5.49%
|
EUR
|
100
|
115,359
|
|
5.99%
|
|
100
|
115,528
|
|
|
|
|
690,682
|
|
Banks(g) — 0.1%
|
|
||
|
CaixaBank SA, 7.50%(a)
|
|
200
|
247,373
|
|
Citigroup, Inc., Series GG, 6.88%
|
USD
|
1,020
|
1,027,199
|
|
PNC Financial Services Group, Inc., Series W, 6.25%
|
|
644
|
649,650
|
|
|
|
|
1,924,222
|
|
Building Products — 0.0%
|
|
||
|
Nationwide Building Society, 7.50%(a)(g)
|
GBP
|
235
|
311,512
|
|
Security
|
|
Par
(000)
|
Value
|
|
Capital Markets — 0.1%
|
|
||
|
Apollo Global Management, Inc., 6.00%, 12/15/54
|
USD
|
1,767
|
$ 1,656,739
|
|
Diversified REITs — 0.0%
|
|
||
|
Unibail-Rodamco-Westfield SE, 4.75%(a)(g)
|
EUR
|
200
|
228,673
|
|
Diversified Telecommunication Services(a)(g) — 0.0%
|
|
||
|
Telefonica Europe BV
|
|
|
|
|
6.14%
|
|
200
|
240,094
|
|
6.75%
|
|
100
|
123,282
|
|
|
|
|
363,376
|
|
Electric Utilities — 0.5%
|
|
||
|
AES Corp., 7.60%, 01/15/55
|
USD
|
2,216
|
2,198,090
|
|
CenterPoint Energy, Inc., Series B, 6.85%, 02/15/55
|
|
482
|
505,022
|
|
Dominion Energy, Inc., 6.63%, 05/15/55
|
|
335
|
340,128
|
|
Duke Energy Corp., 6.45%, 09/01/54
|
|
916
|
945,900
|
|
EDP SA, 4.75%, 05/29/54(a)
|
EUR
|
100
|
116,183
|
|
Electricite de France SA(a)(g)
|
|
|
|
|
3.00%
|
|
200
|
227,414
|
|
3.38%
|
|
200
|
217,390
|
|
4.38%
|
|
100
|
112,040
|
|
5.13%
|
|
200
|
233,125
|
|
Enel SpA, 4.25%(a)(g)
|
|
125
|
142,330
|
|
NextEra Energy Capital Holdings, Inc., 6.38%, 08/15/55
|
USD
|
1,918
|
1,953,966
|
|
Orsted A/S, 2.50%, 12/31/99(a)
|
GBP
|
100
|
100,283
|
|
PG&E Corp., 6.85%, 09/15/56
|
USD
|
1,967
|
1,943,648
|
|
|
|
|
9,035,519
|
|
Electronic Equipment, Instruments & Components — 0.0%
|
|
||
|
Prysmian SpA, 5.25%(a)(g)
|
EUR
|
150
|
176,028
|
|
Financial Services — 3.3%
|
|
||
|
Bank of America Corp.(g)
|
|
|
|
|
Series OO, 6.63%
|
USD
|
7,834
|
8,031,769
|
|
Series U, 6.25%
|
|
1,829
|
1,840,016
|
|
Barclays PLC(g)
|
|
|
|
|
4.38%
|
|
2,490
|
2,361,033
|
|
7.63%
|
|
1,329
|
1,341,892
|
|
8.00%
|
|
400
|
413,903
|
|
9.63%
|
|
5,245
|
5,721,010
|
|
Brookfield Finance, Inc., 6.30%, 01/15/55
|
|
3,731
|
3,573,690
|
|
Citigroup, Inc.(g)
|
|
|
|
|
Series CC, 7.13%
|
|
5,616
|
5,671,216
|
|
Series DD, 7.00%
|
|
860
|
885,096
|
|
Series EE, 6.75%
|
|
2,126
|
2,125,042
|
|
Series FF, 6.95%
|
|
856
|
862,357
|
|
Series HH, 6.63%
|
|
2,320
|
2,321,740
|
|
Deutsche Bank AG(a)(g)
|
|
|
|
|
6.75%
|
EUR
|
200
|
227,991
|
|
7.13%
|
|
200
|
235,092
|
|
7.38%
|
|
200
|
239,340
|
|
Goldman Sachs Group, Inc.(g)
|
|
|
|
|
6.85%
|
USD
|
1,269
|
1,293,508
|
|
Series Y, 6.13%
|
|
3,526
|
3,507,655
|
|
NatWest Group PLC, 8.13%(g)
|
|
1,633
|
1,767,767
|
|
UBS Group AG(e)(g)
|
|
|
|
|
6.60%
|
|
800
|
780,827
|
|
6.85%
|
|
200
|
198,206
|
|
7.00%
|
|
4,004
|
3,906,837
|
|
7.13%
|
|
1,000
|
980,870
|
|
7.75%
|
|
2,000
|
2,060,842
|
|
Series .14a, 6.63%
|
|
2,036
|
1,982,604
|
|
Series 144, 7.00%
|
|
1,400
|
1,353,409
|
|
Security
|
|
Par
(000)
|
Value
|
|
Financial Services (continued)
|
|
||
|
UBS Group AG(e)(g) (continued)
|
|
|
|
|
Series NC10, 9.25%
|
USD
|
3,245
|
$ 3,654,646
|
|
Series NC5, 9.25%
|
|
800
|
852,660
|
|
|
|
|
58,191,018
|
|
Independent Power and Renewable Electricity Producers(e)(g) — 0.5%
|
|
||
|
NRG Energy, Inc., 10.25%
|
|
3,370
|
3,635,290
|
|
Vistra Corp., 7.00%
|
|
5,682
|
5,689,284
|
|
|
|
|
9,324,574
|
|
Insurance — 0.1%
|
|
||
|
BNP Paribas Cardif SA, 6.00%(a)(g)
|
EUR
|
200
|
223,640
|
|
Corebridge Financial, Inc., 6.38%, 09/15/54
|
USD
|
1,782
|
1,751,407
|
|
NN Group NV, 5.75%(a)(g)
|
EUR
|
200
|
224,889
|
|
|
|
|
2,199,936
|
|
Internet Software & Services(g) — 0.1%
|
|
||
|
Rakuten Group, Inc.
|
|
|
|
|
4.25%(a)
|
|
200
|
224,146
|
|
8.13%(e)
|
USD
|
505
|
500,818
|
|
|
|
|
724,964
|
|
Multi-Utilities — 0.1%
|
|
||
|
AltaGas Ltd., 7.20%, 10/15/54(e)
|
|
1,135
|
1,150,864
|
|
Centrica PLC, 6.50%, 05/21/55(a)
|
GBP
|
100
|
132,691
|
|
|
|
|
1,283,555
|
|
Oil, Gas & Consumable Fuels — 1.2%
|
|
||
|
Energy Transfer LP, Series G, 7.13%(g)
|
USD
|
1,280
|
1,302,816
|
|
Eni SpA, 4.50%(a)(g)
|
EUR
|
100
|
114,335
|
|
Sunoco LP, 7.88%(e)(g)
|
USD
|
11,070
|
11,302,758
|
|
Var Energi ASA, 7.86%, 11/15/83(a)
|
EUR
|
100
|
124,665
|
|
Venture Global LNG, Inc., 9.00%(e)(g)
|
USD
|
8,484
|
8,450,456
|
|
|
|
|
21,295,030
|
|
Passenger Airlines — 0.0%
|
|
||
|
Air France-KLM, 5.75%(a)(g)
|
EUR
|
100
|
112,462
|
|
Pharmaceuticals(a) — 0.0%
|
|
||
|
Bayer AG
|
|
|
|
|
Series NC5, 6.63%, 09/25/83
|
|
100
|
119,897
|
|
Series NC8, 7.00%, 09/25/83
|
|
100
|
122,533
|
|
|
|
|
242,430
|
|
Real Estate Management & Development(a)(g) — 0.0%
|
|
||
|
Heimstaden Bostad AB, 2.63%
|
|
375
|
419,499
|
|
Vivion Investments SARL, 8.13%
|
|
100
|
96,728
|
|
|
|
|
516,227
|
|
Transportation Infrastructure — 0.0%
|
|
||
|
Poste Italiane SpA, 2.63%(a)(g)
|
|
100
|
108,879
|
|
Water Utilities — 0.0%
|
|
||
|
Veolia Environnement SA, 4.32%(a)(g)
|
|
100
|
112,118
|
|
|
109,709,125
|
||
|
|
|
Shares
|
|
|
Preferred Stocks — 0.5%
|
|||
|
Financial Services — 0.0%
|
|
||
|
Shift4 Payments, Inc., 6.00%, 05/01/28(d)(i)
|
|
6,896
|
369,902
|
|
Insurance — 0.4%
|
|
||
|
Alliant Cali, Inc., (Acquired 09/25/24, Cost: $5,947,430),
12/31/79(c)(q)
|
|
6,038
|
6,020,852
|
|
Security
|
|
Shares
|
Value
|
|
IT Services(c)(d) — 0.0%
|
|
||
|
Veritas Newco
|
|
|
|
|
Series G
|
|
374
|
$ 7,106
|
|
Series G-1
|
|
258
|
4,902
|
|
|
|
|
12,008
|
|
Semiconductors & Semiconductor Equipment — 0.1%
|
|
||
|
Microchip Technology, Inc., 7.50%, 03/15/28(d)(i)
|
|
32,100
|
1,828,737
|
|
|
8,231,499
|
||
|
Total Preferred Securities — 6.6%
(Cost: $117,376,806)
|
117,940,624
|
||
|
Total Long-Term Investments — 131.2%
(Cost: $2,354,895,084)
|
2,350,960,959
|
||
|
Short-Term Securities
|
|||
|
Money Market Funds — 0.3%
|
|
||
|
BlackRock Liquidity Funds, T-Fund, Institutional Shares,
3.55%(o)(r)
|
|
5,199,102
|
5,199,102
|
|
Total Short-Term Securities — 0.3%
(Cost: $5,199,102)
|
5,199,102
|
||
|
Total Investments — 131.5%
(Cost: $2,360,094,186)
|
2,356,160,061
|
||
|
Liabilities in Excess of Other Assets — (31.5)%
|
(563,884,261
)
|
||
|
Net Assets — 100.0%
|
$ 1,792,275,800
|
||
|
(a)
|
This security may be resold to qualified foreign investors and foreign institutional
buyers
under Regulation S of the Securities Act of 1933.
|
|
(b)
|
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.
|
|
(c)
|
Security is valued using significant unobservable inputs and is classified as Level
3 in the
fair value hierarchy.
|
|
(d)
|
Non-income producing security.
|
|
(e)
|
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.
|
|
(f)
|
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.
|
|
(g)
|
Perpetual security with no stated maturity date.
|
|
(h)
|
Issuer filed for bankruptcy and/or is in default.
|
|
(i)
|
Convertible security.
|
|
(j)
|
Zero-coupon bond.
|
|
(k)
|
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.
|
|
(l)
|
When-issued security.
|
|
(m)
|
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.
|
|
(n)
|
Rounds to less than 1,000.
|
|
(o)
|
Affiliate of the Trust.
|
|
(p)
|
All or a portion of the security has been pledged and/or segregated as collateral
in
connection with outstanding exchange-traded options written.
|
|
(q)
|
Restricted security as to resale, excluding 144A securities. The Trust held restricted
securities with a current value of $6,020,852, representing 0.3% of its net assets
as of
period end, and an original cost of $5,947,430.
|
|
(r)
|
Annualized 7-day yield as of period end.
|
|
Affiliated Issuer
|
Value at
12/31/25
|
Purchases
at Cost
|
Proceeds
from Sales
|
Net
Realized
Gain (Loss)
|
Change in
Unrealized
Appreciation
(Depreciation)
|
Value at
03/31/26
|
Shares
Held at
03/31/26
|
Income
|
Capital Gain
Distributions
from
Underlying
Funds
|
|
BlackRock Liquidity Funds, T-Fund, Institutional Shares
|
$ 646,102
|
$ 4,553,000
(a)
|
$ —
|
$ —
|
$ —
|
$ 5,199,102
|
5,199,102
|
$ 18,203
|
$ —
|
|
iShares Broad USD High Yield Corporate Bond ETF
|
18,254,519
|
3,156,411
|
—
|
—
|
(314,025
)
|
21,096,905
|
572,663
|
220,990
|
—
|
|
|
|
|
|
$ —
|
$ (314,025
)
|
$ 26,296,007
|
|
$ 239,193
|
$ —
|
|
(a)
|
Represents net amount purchased (sold).
|
|
Description
|
Number of
Contracts
|
Expiration
Date
|
Notional
Amount (000)
|
Value/
Unrealized
Appreciation
(Depreciation)
|
|
Short Contracts
|
|
|
|
|
|
10-Year U.S. Ultra Long Treasury Note
|
200
|
06/18/26
|
$ 22,688
|
$ 472,884
|
|
U.S. Long Bond
|
131
|
06/18/26
|
14,885
|
464,409
|
|
Ultra U.S. Treasury Bond
|
33
|
06/18/26
|
3,838
|
134,255
|
|
|
|
|
|
$ 1,071,548
|
|
Currency Purchased
|
Currency Sold
|
Counterparty
|
Settlement Date
|
Unrealized
Appreciation
(Depreciation)
|
||
|
USD
|
5,785,378
|
GBP
|
4,356,000
|
State Street Bank and Trust Co.
|
06/17/26
|
$ 21,072
|
|
USD
|
165,488
|
GBP
|
125,000
|
UBS AG
|
06/17/26
|
76
|
|
|
|
|
|
|
|
21,148
|
|
EUR
|
800,000
|
USD
|
929,409
|
Barclays Bank PLC
|
06/17/26
|
(1,516
)
|
|
USD
|
54,243,874
|
EUR
|
47,022,000
|
Barclays Bank PLC
|
06/17/26
|
(295,380
)
|
|
USD
|
17,994,073
|
EUR
|
15,600,000
|
Toronto-Dominion Bank
|
06/17/26
|
(99,849
)
|
|
|
|
|
|
|
|
(396,745
)
|
|
|
$ (375,597
)
|
|||||
|
Reference Obligation/Index
|
Financing
Rate Received
by the Trust
|
Payment
Frequency
|
Termination
Date
|
Credit
Rating
|
Notional
Amount (000)
|
Value
|
Upfront
Premium
Paid
(Received)
|
Unrealized
Appreciation
(Depreciation)
|
|
|
CDX.NA.HY.46.V1
|
5.00
%
|
Quarterly
|
06/20/31
|
B
|
USD
|
18,002
|
$ 893,652
|
$ 738,100
|
$ 155,552
|
|
Reference Obligation/Index
|
Financing
Rate Received
by the Trust
|
Payment
Frequency
|
Counterparty
|
Termination
Date
|
Credit
Rating
|
Notional
Amount (000)
|
Value
|
Upfront
Premium
Paid
(Received)
|
Unrealized
Appreciation
(Depreciation)
|
|
|
CMA CGM SA
|
5.00
%
|
Quarterly
|
Morgan Stanley & Co.
International PLC
|
06/20/27
|
BB+
|
EUR
|
125
|
$ 7,779
|
$ 7,497
|
$ 282
|
|
Adler Real Estate AG
|
5.00
|
Quarterly
|
Bank of America N.A.
|
12/20/27
|
N/R
|
EUR
|
35
|
1,802
|
(2,329
)
|
4,131
|
|
Adler Real Estate AG
|
5.00
|
Quarterly
|
Barclays Bank PLC
|
12/20/27
|
N/R
|
EUR
|
21
|
1,084
|
(1,287
)
|
2,371
|
|
Reference Obligation/Index
|
Financing
Rate Received
by the Trust
|
Payment
Frequency
|
Counterparty
|
Termination
Date
|
Credit
Rating
|
Notional
Amount (000)
|
Value
|
Upfront
Premium
Paid
(Received)
|
Unrealized
Appreciation
(Depreciation)
|
|
|
Adler Real Estate AG
|
5.00
%
|
Quarterly
|
Barclays Bank PLC
|
12/20/27
|
N/R
|
EUR
|
60
|
$ 3,046
|
$ (3,618
)
|
$ 6,664
|
|
Adler Real Estate AG
|
5.00
|
Quarterly
|
Citibank N.A.
|
12/20/27
|
N/R
|
EUR
|
17
|
884
|
(1,072
)
|
1,956
|
|
Adler Real Estate AG
|
5.00
|
Quarterly
|
JPMorgan Chase Bank N.A.
|
12/20/27
|
N/R
|
EUR
|
36
|
1,850
|
(2,478
)
|
4,328
|
|
Adler Real Estate AG
|
5.00
|
Quarterly
|
Morgan Stanley & Co.
International PLC
|
12/20/27
|
N/R
|
EUR
|
26
|
1,341
|
(1,715
)
|
3,056
|
|
Altice France SA
|
5.00
|
Quarterly
|
JPMorgan Chase Bank N.A.
|
12/20/27
|
CCC+
|
EUR
|
31
|
1,560
|
1,163
|
397
|
|
Altice France SA
|
5.00
|
Quarterly
|
JPMorgan Chase Bank N.A.
|
12/20/27
|
CCC+
|
EUR
|
32
|
1,611
|
1,318
|
293
|
|
Altice France SA
|
5.00
|
Quarterly
|
JPMorgan Chase Bank N.A.
|
12/20/27
|
CCC+
|
EUR
|
90
|
4,529
|
4,290
|
239
|
|
Altice France SA
|
5.00
|
Quarterly
|
Morgan Stanley & Co.
International PLC
|
12/20/27
|
CCC+
|
EUR
|
29
|
1,459
|
1,103
|
356
|
|
Virgin Media Finance PLC
|
5.00
|
Quarterly
|
Goldman Sachs International
|
12/20/28
|
B-
|
EUR
|
24
|
1,452
|
1,906
|
(454
)
|
|
Virgin Media Finance PLC
|
5.00
|
Quarterly
|
JPMorgan Chase Bank N.A.
|
12/20/28
|
B-
|
EUR
|
53
|
3,206
|
4,364
|
(1,158
)
|
|
iTraxx.XO.42.V3 20-35%
|
5.00
|
Quarterly
|
BNP Paribas SA
|
12/20/29
|
CCC
|
EUR
|
109
|
13,183
|
13,126
|
57
|
|
iTraxx.XO.42.V3 20-35%
|
5.00
|
Quarterly
|
BNP Paribas SA
|
12/20/29
|
CCC
|
EUR
|
140
|
16,932
|
17,938
|
(1,006
)
|
|
iTraxx.XO.42.V3 20-35%
|
5.00
|
Quarterly
|
Goldman Sachs International
|
12/20/29
|
CCC
|
EUR
|
76
|
9,192
|
11,991
|
(2,799
)
|
|
Zegona Finance PLC
|
5.00
|
Quarterly
|
BNP Paribas SA
|
06/20/30
|
BB
|
EUR
|
32
|
5,317
|
4,821
|
496
|
|
Zegona Finance PLC
|
5.00
|
Quarterly
|
Deutsche Bank AG
|
06/20/30
|
BB
|
EUR
|
32
|
5,277
|
3,767
|
1,510
|
|
Faurecia SE
|
5.00
|
Quarterly
|
JPMorgan Chase Bank N.A.
|
12/20/30
|
BB-
|
EUR
|
139
|
13,323
|
12,800
|
523
|
|
|
|
|
|
|
|
|
|
$ 94,827
|
$ 73,585
|
$ 21,242
|
|
Paid by the Trust
|
Received by the Trust
|
|
|
|
|
|
|
|
|
||
|
Rate/Reference
|
Frequency
|
Rate/Reference
|
Frequency
|
Counterparty
|
Effective
Date
|
Termination
Date
|
Notional
Amount (000)
|
Value
|
Upfront
Premium
Paid
(Received)
|
Unrealized
Appreciation
(Depreciation)
|
|
|
1-day SOFR, 3.68%
|
Quarterly
|
Markit iBoxx $ Liquid
High Yield Index
|
At Termination
|
Morgan Stanley &
Co. International
PLC
|
N/A
|
06/20/26
|
USD
|
4,576
|
$ 69,861
|
$ (42,679
)
|
$ 112,540
|
|
1-day SOFR, 3.68%
|
Quarterly
|
Markit iBoxx $ Liquid
High Yield Index
|
At Termination
|
Morgan Stanley &
Co. International
PLC
|
N/A
|
06/20/26
|
USD
|
2,290
|
28,325
|
(22,478
)
|
50,803
|
|
1-day SOFR, 3.68%
|
Quarterly
|
Markit iBoxx $ Liquid
High Yield Index
|
At Termination
|
Morgan Stanley &
Co. International
PLC
|
N/A
|
06/20/26
|
USD
|
262
|
3,868
|
(2,606
)
|
6,474
|
|
1-day SOFR, 3.68%
|
Quarterly
|
Markit iBoxx USD
Liquid Leveraged
Loan Index
|
At Termination
|
Morgan Stanley &
Co. International
PLC
|
N/A
|
06/20/26
|
USD
|
19,659
|
(14,216
)
|
(183,355
)
|
169,139
|
|
1-day SOFR, 3.68%
|
Quarterly
|
Markit iBoxx $ Liquid
High Yield Index
|
At Termination
|
Morgan Stanley &
Co. International
PLC
|
N/A
|
09/20/26
|
USD
|
693
|
(1,118
)
|
(6,485
)
|
5,367
|
|
1-day SOFR, 3.68%
|
Quarterly
|
Markit iBoxx $ Liquid
High Yield Index
|
At Termination
|
JPMorgan Chase
Bank N.A.
|
N/A
|
12/20/26
|
USD
|
631
|
(5,256
)
|
(4,850
)
|
(406
)
|
|
1-day SOFR, 3.68%
|
Quarterly
|
Markit iBoxx $ Liquid
High Yield Index
|
At Termination
|
JPMorgan Chase
Bank N.A.
|
N/A
|
12/20/26
|
USD
|
904
|
(5,080
)
|
(7,411
)
|
2,331
|
|
1-day SOFR, 3.68%
|
Quarterly
|
Markit iBoxx $ Liquid
High Yield Index
|
At Termination
|
Morgan Stanley &
Co. International
PLC
|
N/A
|
12/20/26
|
USD
|
693
|
(10,037
)
|
(4,756
)
|
(5,281
)
|
|
1-day SOFR, 3.68%
|
Quarterly
|
Markit iBoxx $ Liquid
High Yield Index
|
At Termination
|
Morgan Stanley &
Co. International
PLC
|
N/A
|
12/20/26
|
USD
|
693
|
(8,650
)
|
(5,256
)
|
(3,394
)
|
|
Paid by the Trust
|
Received by the Trust
|
|
|
|
|
|
|
|
|
||
|
Rate/Reference
|
Frequency
|
Rate/Reference
|
Frequency
|
Counterparty
|
Effective
Date
|
Termination
Date
|
Notional
Amount (000)
|
Value
|
Upfront
Premium
Paid
(Received)
|
Unrealized
Appreciation
(Depreciation)
|
|
|
1-day SOFR, 3.68%
|
Quarterly
|
Markit iBoxx USD
Liquid Leveraged
Loan Index
|
At Termination
|
Morgan Stanley &
Co. International
PLC
|
N/A
|
12/20/26
|
USD
|
5,625
|
$ (89,915
)
|
$ (29,383
)
|
$ (60,532
)
|
|
1-day SOFR, 3.68%
|
Quarterly
|
Markit iBoxx $ Liquid
High Yield Index
|
At Termination
|
Morgan Stanley &
Co. International
PLC
|
N/A
|
03/20/27
|
USD
|
3,272
|
791
|
(28,497
)
|
29,288
|
|
|
|
|
|
|
|
|
|
|
$ (31,427
)
|
$ (337,756
)
|
$ 306,329
|
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Assets
|
|
|
|
|
|
Investments
|
|
|
|
|
|
Long-Term Investments
|
|
|
|
|
|
Asset-Backed Securities
|
$ —
|
$ 2,453,233
|
$ —
|
$ 2,453,233
|
|
Common Stocks
|
|
|
|
|
|
Capital Markets
|
—
|
—
|
12,144
|
12,144
|
|
Food Products
|
1,115,706
|
—
|
—
|
1,115,706
|
|
Health Care Equipment & Supplies
|
294,234
|
—
|
—
|
294,234
|
|
Health Care Providers & Services
|
—
|
—
|
9,721
|
9,721
|
|
Life Sciences Tools & Services
|
1,339,080
|
—
|
—
|
1,339,080
|
|
Machinery
|
—
|
—
|
201,521
|
201,521
|
|
Metals & Mining
|
2,929,469
|
—
|
—
|
2,929,469
|
|
Oil, Gas & Consumable Fuels
|
7,132,633
|
—
|
—
|
7,132,633
|
|
Real Estate Management & Development
|
—
|
—
|
1
|
1
|
|
Semiconductors & Semiconductor Equipment
|
2
|
—
|
—
|
2
|
|
Specialized REITs
|
4,983,851
|
—
|
—
|
4,983,851
|
|
Wireless Telecommunication Services
|
—
|
935,223
|
—
|
935,223
|
|
Corporate Bonds
|
|
|
|
|
|
Advertising Agencies
|
—
|
46,492,178
|
—
|
46,492,178
|
|
Aerospace & Defense
|
—
|
64,615,563
|
—
|
64,615,563
|
|
Air Freight & Logistics
|
—
|
1,695,401
|
—
|
1,695,401
|
|
Automobile Components
|
—
|
30,536,522
|
—
|
30,536,522
|
|
Automobiles
|
—
|
30,905,067
|
—
|
30,905,067
|
|
Banks
|
—
|
9,978,666
|
—
|
9,978,666
|
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Corporate Bonds (continued)
|
|
|
|
|
|
Biotechnology
|
$ —
|
$ 6,711,644
|
$ —
|
$ 6,711,644
|
|
Building Materials
|
—
|
50,621,790
|
—
|
50,621,790
|
|
Building Products
|
—
|
19,012,788
|
—
|
19,012,788
|
|
Capital Markets
|
—
|
25,870,722
|
—
|
25,870,722
|
|
Chemicals
|
—
|
64,273,659
|
—
|
64,273,659
|
|
Commercial Services & Supplies
|
—
|
127,871,745
|
—
|
127,871,745
|
|
Communications Equipment
|
—
|
495,386
|
—
|
495,386
|
|
Construction & Engineering
|
—
|
8,616,800
|
—
|
8,616,800
|
|
Consumer Finance
|
11,580
|
33,892,935
|
—
|
33,904,515
|
|
Consumer Staples Distribution & Retail
|
—
|
18,360,657
|
—
|
18,360,657
|
|
Containers & Packaging
|
—
|
64,873,887
|
—
|
64,873,887
|
|
Distributors
|
—
|
4,198,263
|
—
|
4,198,263
|
|
Diversified REITs
|
—
|
14,612,072
|
—
|
14,612,072
|
|
Diversified Telecommunication Services
|
—
|
150,219,174
|
—
|
150,219,174
|
|
Electric Utilities
|
—
|
37,737,069
|
—
|
37,737,069
|
|
Electronic Equipment, Instruments & Components
|
—
|
9,168,486
|
—
|
9,168,486
|
|
Energy Equipment & Services
|
—
|
29,069,907
|
—
|
29,069,907
|
|
Entertainment
|
—
|
60,455,827
|
—
|
60,455,827
|
|
Environmental, Maintenance & Security Service
|
—
|
21,596,737
|
—
|
21,596,737
|
|
Financial Services
|
—
|
53,701,708
|
—
|
53,701,708
|
|
Food Products
|
—
|
26,329,551
|
—
|
26,329,551
|
|
Ground Transportation
|
—
|
1,166,689
|
—
|
1,166,689
|
|
Health Care Equipment & Supplies
|
—
|
17,968,660
|
—
|
17,968,660
|
|
Health Care Providers & Services
|
—
|
66,266,047
|
—
|
66,266,047
|
|
Health Care REITs
|
—
|
9,739,440
|
—
|
9,739,440
|
|
Hotel & Resort REITs
|
—
|
26,920,822
|
—
|
26,920,822
|
|
Hotels, Restaurants & Leisure
|
—
|
31,506,205
|
—
|
31,506,205
|
|
Household Durables
|
—
|
25,784,535
|
—
|
25,784,535
|
|
Independent Power and Renewable Electricity Producers
|
—
|
30,821,894
|
—
|
30,821,894
|
|
Industrial Conglomerates
|
—
|
4,747,689
|
—
|
4,747,689
|
|
Insurance
|
—
|
148,969,943
|
—
|
148,969,943
|
|
Interactive Media & Services
|
—
|
44,735,542
|
—
|
44,735,542
|
|
Internet Software & Services
|
—
|
12,440,579
|
—
|
12,440,579
|
|
IT Services
|
—
|
18,948,880
|
—
|
18,948,880
|
|
Leisure Products
|
—
|
32,577,627
|
—
|
32,577,627
|
|
Machinery
|
—
|
17,181,278
|
—
|
17,181,278
|
|
Media
|
—
|
108,256,503
|
—
|
108,256,503
|
|
Metals & Mining
|
—
|
67,262,700
|
—
|
67,262,700
|
|
Mortgage Real Estate Investment Trusts (REITs)
|
—
|
6,428,125
|
—
|
6,428,125
|
|
Multi-Utilities
|
—
|
711,928
|
—
|
711,928
|
|
Oil, Gas & Consumable Fuels
|
—
|
179,696,831
|
—
|
179,696,831
|
|
Passenger Airlines
|
—
|
5,237,851
|
—
|
5,237,851
|
|
Personal Care Products
|
—
|
2,639,248
|
—
|
2,639,248
|
|
Pharmaceuticals
|
—
|
43,139,730
|
—
|
43,139,730
|
|
Real Estate Management & Development
|
—
|
10,756,451
|
—
|
10,756,451
|
|
Retail REITs
|
—
|
1,766,552
|
—
|
1,766,552
|
|
Semiconductors & Semiconductor Equipment
|
—
|
2,863,011
|
—
|
2,863,011
|
|
Software
|
—
|
58,478,901
|
—
|
58,478,901
|
|
Specialty Retail
|
—
|
7,031,494
|
—
|
7,031,494
|
|
Technology Hardware, Storage & Peripherals
|
—
|
1,363,156
|
—
|
1,363,156
|
|
Textiles, Apparel & Luxury Goods
|
—
|
11,872,222
|
—
|
11,872,222
|
|
Transportation Infrastructure
|
—
|
1,431,079
|
—
|
1,431,079
|
|
Wireless Telecommunication Services
|
—
|
37,709,916
|
—
|
37,709,916
|
|
Fixed Rate Loan Interests
|
—
|
15,533,160
|
—
|
15,533,160
|
|
Floating Rate Loan Interests
|
—
|
122,612,910
|
4,023,230
|
126,636,140
|
|
Investment Companies
|
21,096,905
|
—
|
—
|
21,096,905
|
|
Preferred Securities
|
|
|
|
|
|
Capital Trusts
|
—
|
109,709,125
|
—
|
109,709,125
|
|
Preferred Stocks
|
—
|
2,198,639
|
6,032,860
|
8,231,499
|
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Short-Term Securities
|
|
|
|
|
|
Money Market Funds
|
$ 5,199,102
|
$ —
|
$ —
|
$ 5,199,102
|
|
Unfunded Floating Rate Loan Interests(a)
|
—
|
185
|
—
|
185
|
|
Liabilities
|
|
|
|
|
|
Unfunded Floating Rate Loan Interests(a)
|
—
|
(16,292
)
|
—
|
(16,292
)
|
|
|
$44,102,562
|
$2,301,761,915
|
$10,279,477
|
$2,356,143,954
|
|
Derivative Financial Instruments(b)
|
|
|
|
|
|
Assets
|
|
|
|
|
|
Credit Contracts
|
$ —
|
$ 182,211
|
$ —
|
$ 182,211
|
|
Foreign Currency Exchange Contracts
|
—
|
21,148
|
—
|
21,148
|
|
Interest Rate Contracts
|
1,071,548
|
375,942
|
—
|
1,447,490
|
|
Liabilities
|
|
|
|
|
|
Credit Contracts
|
—
|
(5,417
)
|
—
|
(5,417
)
|
|
Foreign Currency Exchange Contracts
|
—
|
(396,745
)
|
—
|
(396,745
)
|
|
Interest Rate Contracts
|
—
|
(69,613
)
|
—
|
(69,613
)
|
|
|
$1,071,548
|
$107,526
|
$—
|
$1,179,074
|
|
(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
|
|
|
EUR
|
Euro
|
|
GBP
|
British Pound
|
|
USD
|
United States Dollar
|
|
Portfolio Abbreviation
|
|
|
CLO
|
Collateralized Loan Obligation
|
|
CME
|
Chicago Mercantile Exchange
|
|
CMT
|
Constant Maturity Treasury
|
|
CVR
|
Contingent Value Right
|
|
DAC
|
Designated Activity Company
|
|
DIP
|
Debtor-In-Possession
|
|
ETF
|
Exchange-Traded Fund
|
|
EURIBOR
|
Euro Interbank Offered Rate
|
|
PIK
|
Payment-in-Kind
|
|
REIT
|
Real Estate Investment Trust
|
|
SAN
|
State Aid Notes
|
|
SOFR
|
Secured Overnight Financing Rate
|
|
SONIA
|
Sterling Overnight Interbank Average Rate
|