| Asset-Backed Securities — 8.0% |
| Security | Principal Amount (000's omitted) | Value | |
| AIMCO CLO 11 Ltd., Series 2020-11A, Class D1R2, 6.832%, (3 mo. SOFR + 2.95%), 7/17/37(1)(2) | $ | 3,000 | $ 3,011,640 |
| Babson CLO Ltd., Series 2022-4A, Class D1R, 7.134%, (3 mo. SOFR + 3.25%), 10/20/37(1)(2) | 2,000 | 2,014,850 | |
| Benefit Street Partners CLO XII-B Ltd., Series 2017-12BRA, Class D1, 6.955%, (3 mo. SOFR + 3.05%), 10/15/37(1)(2) | 2,000 | 2,013,344 | |
| Benefit Street Partners CLO XV Ltd., Series 2018-15A, Class D2R, 8.405%, (3 mo. SOFR + 4.50%), 7/15/37(1)(2) | 1,000 | 1,006,738 | |
| Benefit Street Partners CLO XVIII Ltd., Series 2019-18A, Class ER2, 8.605%, (3 mo. SOFR + 4.70%), 10/15/38(1)(2) | 4,500 | 4,452,426 | |
| Benefit Street Partners CLO XXII Ltd., Series 2020-22A, Class ERR, 8.784%, (3 mo. SOFR + 4.90%), 4/20/35(1)(2) | 2,000 | 1,975,714 | |
| Benefit Street Partners CLO XXXII Ltd., Series 2023-32A, Class ER, 8.56%, (3 mo. SOFR + 4.70%), 10/25/38(1)(2) | 2,000 | 1,978,720 | |
| BlueMountain CLO Ltd.: | |||
| Series 2016-3A, Class ER, 10.063%, (3 mo. SOFR + 6.212%), 11/15/30(1)(2) | 2,000 | 1,941,924 | |
| Series 2018-1A, Class E, 10.05%, (3 mo. SOFR + 6.212%), 7/30/30(1)(2) | 1,000 | 788,093 | |
| BlueMountain CLO XXIV Ltd., Series 2019-24A, Class ER, 10.986%, (3 mo. SOFR + 7.102%), 4/20/34(1)(2) | 1,000 | 967,440 | |
| BlueMountain CLO XXVI Ltd., Series 2019-26A, Class ER, 11.276%, (3 mo. SOFR + 7.392%), 10/20/34(1)(2) | 2,500 | 2,461,802 | |
| BlueMountain CLO XXX Ltd., Series 2020-30A, Class ER, 10.605%, (3 mo. SOFR + 6.70%), 4/15/35(1)(2) | 2,000 | 1,928,666 | |
| BlueMountain CLO XXXIV Ltd., Series 2022-34A, Class E, 11.434%, (3 mo. SOFR + 7.55%), 4/20/35(1)(2) | 1,000 | 982,574 | |
| Brookhaven Park CLO Ltd., Series 2024-1A, Class D, 7.484%, (3 mo. SOFR + 3.60%), 4/19/37(1)(2) | 3,000 | 3,018,780 | |
| Canyon Capital CLO Ltd., Series 2016-2A, Class ER, 10.166%, (3 mo. SOFR + 6.262%), 10/15/31(1)(2) | 3,350 | 3,179,971 | |
| Carlyle Global Market Strategies CLO Ltd., Series 2015-5A, Class DR, 10.846%, (3 mo. SOFR + 6.962%), 1/20/32(1)(2) | 1,000 | 991,283 | |
| Dryden 41 Senior Loan Fund, Series 2015-41A, Class ER, 9.466%, (3 mo. SOFR + 5.562%), 4/15/31(1)(2) | 2,000 | 1,889,492 | |
| Security | Principal Amount (000's omitted) | Value | |
| Dryden 42 Senior Loan Fund, Series 2016-42A, Class ERR, 10.405%, (3 mo. SOFR + 6.50%), 7/15/37(1)(2) | $ | 1,000 | $ 990,735 |
| Elmwood CLO 14 Ltd., Series 2022-1A, Class ER, 9.384%, (3 mo. SOFR + 5.50%), 10/20/38(1)(2) | 1,000 | 1,004,668 | |
| Elmwood CLO 32 Ltd., Series 2024-8A, Class D1, 6.734%, (3 mo. SOFR + 2.85%), 10/18/37(1)(2) | 3,000 | 3,017,538 | |
| Elmwood CLO VI Ltd., Series 2020-3A, Class D2RR, 8.234%, (3 mo. SOFR + 4.35%), 7/18/37(1)(2) | 1,000 | 1,004,514 | |
| Elmwood CLO VIII Ltd., Series 2021-1A, Class DR, 7.684%, (3 mo. SOFR + 3.80%), 4/20/37(1)(2) | 4,000 | 4,019,896 | |
| Galaxy 33 CLO Ltd., Series 2024-33A, Class D1, 7.434%, (3 mo. SOFR + 3.55%), 4/20/37(1)(2) | 2,000 | 2,005,580 | |
| Golub Capital Partners CLO 72 B Ltd., Series 2024-72A, Class D, 7.858%, (3 mo. SOFR + 4.00%), 4/25/37(1)(2) | 2,000 | 2,013,280 | |
| Harvest U.S. CLO Ltd., Series 2024-2A, Class D1, 7.155%, (3 mo. SOFR + 3.25%), 10/15/37(1)(2) | 3,000 | 3,011,244 | |
| Madison Park Funding LV Ltd., Series 2022-55A, Class D1R, 7.034%, (3 mo. SOFR + 3.15%), 7/18/37(1)(2) | 3,000 | 3,017,136 | |
| Madison Park Funding XXXVI Ltd., Series 2019-36A, Class ERR, 9.505%, (3 mo. SOFR + 5.60%), 4/15/35(1)(2) | 3,000 | 2,875,194 | |
| Madison Park Funding XXXVII Ltd., Series 2019-37A, Class ER2, 10.505%, (3 mo. SOFR + 6.60%), 4/15/37(1)(2) | 3,500 | 3,521,290 | |
| Magnetite XXII Ltd.: | |||
| Series 2019-22A, Class DJ, 8.055%, (3 mo. SOFR + 4.15%), 7/15/36(1)(2) | 1,000 | 1,001,889 | |
| Series 2019-22A, Class DRR, 6.805%, (3 mo. SOFR + 2.90%), 7/15/36(1)(2) | 3,000 | 3,005,988 | |
| Neuberger Berman Loan Advisers CLO 48 Ltd., Series 2022-48A, Class ER, 8.758%, (3 mo. SOFR + 4.90%), 4/25/36(1)(2) | 2,000 | 2,006,804 | |
| Oaktree CLO Ltd., Series 2019-4A, Class D2RR, 8.584%, (3 mo. SOFR + 4.70%), 7/20/37(1)(2) | 2,000 | 2,008,698 | |
| OCP CLO Ltd.: | |||
| Series 2022-24A, Class D2R, 8.284%, (3 mo. SOFR + 4.40%), 10/20/37(1)(2) | 1,500 | 1,513,463 | |
| Series 2024-32A, Class D1, 7.61%, (3 mo. SOFR + 3.75%), 4/23/37(1)(2) | 4,000 | 4,024,748 | |
| Palmer Square CLO Ltd.: | |||
| Series 2018-1A, Class CR, 7.784%, (3 mo. SOFR + 3.90%), 4/18/37(1)(2) | 3,000 | 3,015,381 | |
| Series 2019-1A, Class ER2, 8.753%, (3 mo. SOFR + 4.90%), 8/14/38(1)(2) | 2,000 | 1,984,362 | |
| Series 2023-3A, Class D, 8.584%, (3 mo. SOFR + 4.70%), 1/20/37(1)(2) | 3,500 | 3,500,175 | |
| Sixth Street CLO XXI Ltd., Series 2022-21A, Class D1R, 6.87%, (3 mo. SOFR + 3.00%), 10/21/37(1)(2) | 2,000 | 2,008,490 | |
| Security | Principal Amount (000's omitted) | Value | |
| Vibrant CLO XI Ltd., Series 2019-11A, Class D, 10.916%, (3 mo. SOFR + 7.032%), 7/20/32(1)(2) | $ | 575 | $ 578,637 |
| Voya CLO Ltd.: | |||
| Series 2015-3A, Class DR, 10.346%, (3 mo. SOFR + 6.462%), 10/20/31(1)(2) | 3,000 | 2,852,586 | |
| Series 2024-2A, Class D, 7.084%, (3 mo. SOFR + 3.20%), 7/20/37(1)(2) | 2,000 | 2,004,810 | |
| Windhill CLO 5 Ltd., 13.00%, 10/22/35(3) | 6,417 | 6,525,268 | |
| Total Asset-Backed Securities (identified cost $97,687,954) | $ 97,115,831 | ||
| Closed-End Funds — 1.6% |
| Security | Shares | Value | |
| BlackRock Corporate High Yield Fund, Inc. | 2,188,579 | $ 19,478,353 | |
| Total Closed-End Funds (identified cost $26,062,179) | $ 19,478,353 | ||
| Collateralized Mortgage Obligations — 38.7% |
| Security | Principal Amount (000's omitted) | Value | |
| BofA Lending Facility, 12.35%, (SOFR + 4.00%), 6/16/28(2) | $ | 1,361 | $ 1,367,492 |
| Cascade MH Asset Trust, Series 2022-MH1, Class A, 4.25% to 7/25/27, 8/25/54(1)(4) | 2,403 | 2,355,159 | |
| Champs Trust: | |||
| Series 2024-1, Class A, 8.465%, 7/25/59(1)(3) | 6,828 | 7,043,327 | |
| Series 2024-2, Class A, 9.60%, 11/25/59(1)(3) | 7,106 | 7,358,224 | |
| Series 2025-1, Class A, 7.412%, 4/25/60(1)(3) | 9,802 | 10,203,723 | |
| Federal Home Loan Mortgage Corp.: | |||
| Series 2113, Class QG, 6.00%, 1/15/29 | 55 | 55,361 | |
| Series 2122, Class K, 6.00%, 2/15/29 | 9 | 8,826 | |
| Series 2130, Class K, 6.00%, 3/15/29 | 6 | 6,036 | |
| Series 2167, Class BZ, 7.00%, 6/15/29 | 3 | 2,703 | |
| Series 2182, Class ZB, 8.00%, 9/15/29 | 56 | 57,680 | |
| Series 2198, Class ZA, 8.50%, 11/15/29 | 26 | 26,697 | |
| Series 2458, Class ZB, 7.00%, 6/15/32 | 198 | 207,650 | |
| Series 3762, Class SH, 1.722%, (9.771% - 30-day SOFR Average x 2.00), 11/15/40(5) | 328 | 284,952 | |
| Series 4273, Class SP, 0.962%, (11.695% - 30-day SOFR Average x 2.667), 11/15/43(5) | 503 | 426,057 | |
| Series 4678, Class PC, 3.00%, 1/15/46 | 1,780 | 1,700,856 | |
| Series 5083, Class SK, 0.00%, (3.867% - 30-day SOFR Average x 1.333, Floor 0.00%), 3/25/51(5) | 2,047 | 876,310 | |
| Series 5327, Class B, 6.00%, 8/25/53 | 5,000 | 5,169,129 | |
| Security | Principal Amount (000's omitted) | Value | |
| Federal Home Loan Mortgage Corp.: (continued) | |||
| Series 5353, Class AZ, 6.50%, 11/25/53 | $ | 2,302 | $ 2,455,142 |
| Series 5410, Class KY, 6.00%, 5/25/54 | 36,000 | 37,475,719 | |
| Series 5414, Class CZ, 5.50%, 5/25/54 | 10,958 | 11,160,879 | |
| Series 5424, Class CZ, 6.00%, 6/25/54 | 16,784 | 17,481,684 | |
| Series 5428, Class Z, 6.00%, 7/25/54 | 4,376 | 4,561,166 | |
| Series 5429, Class DZ, 6.00%, 7/25/54 | 3,282 | 3,400,500 | |
| Series 5453, Class DZ, 5.50%, 9/25/54 | 5,380 | 5,394,928 | |
| Series 5478, Class SG, 6.987%, (15.51% - 30-day SOFR Average x 2.20), 12/25/54(5) | 7,156 | 7,454,079 | |
| Series 5500, Class SC, 9.377%, (21.00% - 30-day SOFR Average x 3.00), 10/25/54(5) | 6,403 | 7,045,222 | |
| Series 5508, Class AS, 9.377%, (21.00% - 30-day SOFR Average x 3.00), 2/25/55(5) | 6,328 | 6,992,597 | |
| Series 5508, Class DS, 9.377%, (21.00% - 30-day SOFR Average x 3.00), 2/25/55(5) | 3,884 | 4,375,145 | |
| Series 5508, Class SC, 9.377%, (21.00% - 30-day SOFR Average x 3.00), 2/25/55(5) | 8,245 | 9,230,856 | |
| Series 5513, Class MQ, 7.824%, (30-day SOFR Average + 3.95%), 6/25/54(2) | 8,110 | 8,381,276 | |
| Series 5516, Class HZ, 6.00%, 3/25/55 | 10,511 | 11,025,167 | |
| Series 5535, Class MB, 7.924%, (30-day SOFR Average + 4.05%), 5/25/55(2) | 3,271 | 3,367,976 | |
| Series 5563, Class TB, 8.25%, (21.15% - 30-day SOFR Average x 3.00), 6/25/55(5) | 17,931 | 18,651,424 | |
| Series 5563, Class TV, 8.16%, (21.06% - 30-day SOFR Average x 3.00), 8/25/55(5) | 5,578 | 5,802,006 | |
| Series 5575, Class TA, 8.25%, (21.15% - 30-day SOFR Average x 3.00), 9/25/55(5) | 11,286 | 11,767,682 | |
| Series 5592, Class TE, 7.20%, (21.30% - 30-day SOFR Average x 3.00), 10/25/55(5) | 1,948 | 2,016,757 | |
| Series 5604, Class SQ, 9.217%, (30.525% - 30-day SOFR Average x 5.50), 12/25/55(5) | 4,972 | 5,487,357 | |
| Interest Only:(6) | |||
| Series 284, Class S6, 2.002%, (5.986% - 30-day SOFR Average), 10/15/42(5) | 821 | 87,307 | |
| Series 362, Class C7, 3.50%, 9/15/47 | 3,537 | 666,578 | |
| Series 362, Class C11, 4.00%, 12/15/47 | 3,256 | 703,108 | |
| Series 4067, Class JI, 3.50%, 6/15/27 | 107 | 1,829 | |
| Series 4070, Class S, 2.002%, (5.986% - 30-day SOFR Average), 6/15/32(5) | 1,441 | 82,393 | |
| Series 4094, Class CS, 1.902%, (5.886% - 30-day SOFR Average), 8/15/42(5) | 365 | 38,867 | |
| Series 4095, Class HS, 2.002%, (5.986% - 30-day SOFR Average), 7/15/32(5) | 199 | 6,698 | |
| Series 4109, Class ES, 2.052%, (6.036% - 30-day SOFR Average), 12/15/41(5) | 81 | 8,981 | |
| Series 4110, Class SA, 1.552%, (5.536% - 30-day SOFR Average), 9/15/42(5) | 1,328 | 86,154 | |
| Series 4149, Class S, 2.152%, (6.136% - 30-day SOFR Average), 1/15/33(5) | 785 | 48,501 | |
| Series 4188, Class AI, 3.50%, 4/15/28 | 52 | 552 | |
| Security | Principal Amount (000's omitted) | Value | |
| Interest Only: (continued) | |||
| Series 4203, Class QS, 2.152%, (6.136% - 30-day SOFR Average), 5/15/43(5) | $ | 1,619 | $ 121,289 |
| Series 4408, Class IP, 3.50%, 4/15/44 | 1,154 | 135,622 | |
| Series 4435, Class BI, 3.50%, 7/15/44 | 2,101 | 279,356 | |
| Series 4629, Class QI, 3.50%, 11/15/46 | 985 | 176,859 | |
| Series 4644, Class TI, 3.50%, 1/15/45 | 1,013 | 126,550 | |
| Series 4744, Class IO, 4.00%, 11/15/47 | 1,679 | 342,115 | |
| Series 4749, Class IL, 4.00%, 12/15/47 | 745 | 152,208 | |
| Series 4793, Class SD, 2.102%, (6.086% - 30-day SOFR Average), 6/15/48(5) | 3,486 | 414,350 | |
| Series 4966, Class SY, 2.061%, (5.936% - 30-day SOFR Average), 4/25/50(5) | 9,249 | 1,203,947 | |
| Principal Only:(7) | |||
| Series 242, Class PO, 0.00%, 11/15/36 | 1,346 | 1,131,842 | |
| Series 259, Class PO, 0.00%, 4/15/39 | 883 | 717,285 | |
| Series 3606, Class PO, 0.00%, 12/15/39 | 830 | 663,976 | |
| Series 4417, Class KO, 0.00%, 12/15/43 | 176 | 125,858 | |
| Series 4478, Class PO, 0.00%, 5/15/45 | 489 | 363,865 | |
| Federal National Mortgage Association: | |||
| Series 1996-57, Class Z, 7.00%, 12/25/26 | 2 | 1,856 | |
| Series 1997-77, Class Z, 7.00%, 11/18/27 | 16 | 16,005 | |
| Series 1998-44, Class ZA, 6.50%, 7/20/28 | 24 | 24,925 | |
| Series 1999-45, Class ZG, 6.50%, 9/25/29 | 7 | 7,508 | |
| Series 2000-22, Class PN, 6.00%, 7/25/30 | 128 | 130,749 | |
| Series 2002-21, Class PE, 6.50%, 4/25/32 | 108 | 112,481 | |
| Series 2005-75, Class CS, 8.245%, (23.742% - 30-day SOFR Average x 4.00), 9/25/35(5) | 390 | 452,076 | |
| Series 2007-74, Class AC, 5.00%, 8/25/37 | 1,362 | 1,376,057 | |
| Series 2011-49, Class NT, 6.00%, (64.855% - 30-day SOFR Average x 10.00, Cap 6.00%), 6/25/41(5) | 160 | 158,020 | |
| Series 2012-134, Class ZT, 2.00%, 12/25/42 | 1,191 | 858,984 | |
| Series 2013-6, Class TA, 1.50%, 1/25/43 | 722 | 652,618 | |
| Series 2013-67, Class NF, 4.989%, (30-day SOFR Average + 1.114%, Cap 5.00%), 7/25/43(2) | 947 | 921,324 | |
| Series 2017-15, Class LE, 3.00%, 6/25/46 | 317 | 313,404 | |
| Series 2017-48, Class LG, 2.75%, 5/25/47 | 1,143 | 1,031,848 | |
| Series 2019-29, Class WC, 2.014%, 6/25/48(3)(8) | 761 | 0 | |
| Series 2024-90, Class ES, 7.097%, (15.62% - 30-day SOFR Average x 2.20), 10/25/54(5) | 9,760 | 10,478,825 | |
| Series 2024-98, Class J, 0.125%, 12/25/53 | 16,022 | 13,626,277 | |
| Series 2025-85, Class TH, 7.20%, (21.30% - 30-day SOFR Average x 3.00), 10/25/55(5) | 4,908 | 5,074,273 | |
| Series 2025-85, Class TN, 6.60%, (36.60% - 30-day SOFR Average x 6.00), 10/25/55(5) | 6,655 | 6,676,676 | |
| Interest Only:(6) | |||
| Series 2011-101, Class IC, 3.50%, 10/25/26 | 20 | 38 | |
| Security | Principal Amount (000's omitted) | Value | |
| Interest Only: (continued) | |||
| Series 2011-101, Class IE, 3.50%, 10/25/26 | $ | 7 | $ 14 |
| Series 2012-118, Class IN, 3.50%, 11/25/42 | 2,299 | 432,036 | |
| Series 2012-124, Class IO, 1.506%, 11/25/42(3) | 767 | 33,984 | |
| Series 2012-125, Class IG, 3.50%, 11/25/42 | 7,153 | 1,421,643 | |
| Series 2012-150, Class SK, 2.161%, (6.036% - 30-day SOFR Average), 1/25/43(5) | 1,324 | 150,256 | |
| Series 2013-12, Class SP, 1.661%, (5.536% - 30-day SOFR Average), 11/25/41(5) | 124 | 1,861 | |
| Series 2013-15, Class DS, 2.211%, (6.086% - 30-day SOFR Average), 3/25/33(5) | 1,991 | 124,434 | |
| Series 2013-16, Class SY, 2.161%, (6.036% - 30-day SOFR Average), 3/25/43(5) | 733 | 83,803 | |
| Series 2013-64, Class PS, 2.261%, (6.136% - 30-day SOFR Average), 4/25/43(5) | 839 | 67,964 | |
| Series 2013-75, Class SC, 2.261%, (6.136% - 30-day SOFR Average), 7/25/42(5) | 687 | 14,969 | |
| Series 2014-32, Class EI, 4.00%, 6/25/44 | 284 | 51,830 | |
| Series 2014-55, Class IN, 3.50%, 7/25/44 | 560 | 102,962 | |
| Series 2014-89, Class IO, 3.50%, 1/25/45 | 692 | 130,087 | |
| Series 2015-52, Class MI, 3.50%, 7/25/45 | 629 | 116,967 | |
| Series 2018-21, Class IO, 3.00%, 4/25/48 | 3,044 | 502,250 | |
| Series 2019-1, Class AS, 2.011%, (5.886% - 30-day SOFR Average), 2/25/49(5) | 5,095 | 418,051 | |
| Series 2019-33, Class SK, 2.061%, (5.936% - 30-day SOFR Average), 7/25/49(5) | 3,236 | 336,441 | |
| Series 2020-23, Class SP, 2.061%, (5.936% - 30-day SOFR Average), 2/25/50(5) | 2,928 | 384,440 | |
| Principal Only:(7) | |||
| Series 379, Class 1, 0.00%, 5/25/37 | 825 | 686,464 | |
| Series 2006-8, Class WQ, 0.00%, 3/25/36 | 1,236 | 1,040,929 | |
| Government National Mortgage Association: | |||
| Series 2017-121, Class DF, 4.348%, (1 mo. SOFR + 0.614%), 8/20/47(2) | 2,446 | 2,392,636 | |
| Series 2017-137, Class AF, 4.348%, (1 mo. SOFR + 0.614%), 9/20/47(2) | 1,260 | 1,231,636 | |
| Series 2022-189, Class US, 8.369%, (22.733% - 30-day SOFR Average x 3.667), 11/20/52(5) | 3,228 | 3,563,544 | |
| Series 2023-56, Class ZE, 6.00%, 4/20/53 | 11,730 | 12,223,166 | |
| Series 2023-63, Class S, 8.185%, (22.55% - 30-day SOFR Average x 3.667), 5/20/53(5) | 2,802 | 3,039,118 | |
| Series 2023-65, Class SD, 8.185%, (22.55% - 30-day SOFR Average x 3.667), 5/20/53(5) | 4,158 | 4,564,198 | |
| Series 2023-96, Class BL, 6.00%, 7/20/53 | 4,326 | 4,510,610 | |
| Series 2023-96, Class DB, 6.00%, 7/20/53 | 2,500 | 2,607,972 | |
| Series 2023-97, Class CB, 6.00%, 7/20/53 | 10,000 | 10,378,909 | |
| Series 2023-99, Class AL, 6.00%, 7/20/53 | 2,500 | 2,607,936 | |
| Series 2023-102, Class SG, 7.946%, (22.546% - 30-day SOFR Average x 3.727), 7/20/53(5) | 4,878 | 5,262,764 | |
| Series 2023-115, Class AL, 6.00%, 8/20/53 | 8,500 | 8,859,117 | |
| Series 2023-116, Class CY, 6.00%, 8/20/53 | 5,000 | 5,214,215 | |
| Security | Principal Amount (000's omitted) | Value | |
| Government National Mortgage Association: (continued) | |||
| Series 2023-133, Class S, 9.847%, (21.60% - 30-day SOFR Average x 3.00), 9/20/53(5) | $ | 2,368 | $ 2,656,368 |
| Series 2023-149, Class S, 9.697%, (21.45% - 30-day SOFR Average x 3.00), 10/20/53(5) | 2,550 | 2,849,570 | |
| Series 2023-150, Class AS, 12.445%, (27.528% - 30-day SOFR Average x 3.85), 10/20/53(5) | 1,286 | 1,520,173 | |
| Series 2023-153, Class SM, 12.329%, (28.00% - 30-day SOFR Average x 4.00), 10/20/53(5) | 1,631 | 1,919,471 | |
| Series 2023-164, Class EL, 6.00%, 11/20/53 | 6,000 | 6,255,596 | |
| Series 2023-165, Class DY, 6.00%, 11/20/53 | 12,000 | 12,427,486 | |
| Series 2023-165, Class EY, 6.50%, 11/20/53 | 30,000 | 31,607,664 | |
| Series 2023-173, Class AX, 6.00%, 11/20/53 | 6,000 | 6,255,632 | |
| Series 2023-181, Class CL, 6.50%, 11/20/53 | 2,000 | 2,138,565 | |
| Series 2023-182, Class EL, 6.00%, 12/20/53 | 3,000 | 3,123,999 | |
| Series 2025-90, Class MB, 8.218%, (30-day SOFR Average + 4.30%), 5/20/55(2) | 4,544 | 4,654,355 | |
| Series 2025-114, Class GT, 8.40%, (21.30% - 30-day SOFR Average x 3.00), 7/20/55(5) | 4,908 | 5,130,526 | |
| Series 2025-115, Class F, 8.40%, (21.30% - 30-day SOFR Average x 3.00), 7/20/55(5) | 4,907 | 5,129,571 | |
| Series 2025-139, Class MT, 7.218%, (30-day SOFR Average + 3.30%), 4/20/55(2) | 6,731 | 6,866,137 | |
| Series 2025-205, Class SP, 8.064%, (29.975% - 30-day SOFR Average x 5.50), 11/20/55(5) | 6,000 | 6,638,179 | |
| Interest Only:(6) | |||
| Series 2017-104, Class SD, 2.352%, (6.086% - 1 mo. SOFR), 7/20/47(5) | 1,913 | 236,382 | |
| Series 2020-151, Class AI, 2.00%, 10/20/50 | 9,938 | 1,266,144 | |
| Series 2020-154, Class PI, 2.50%, 10/20/50 | 8,943 | 1,380,353 | |
| Series 2020-176, Class HI, 2.50%, 11/20/50 | 10,439 | 1,620,013 | |
| Series 2021-131, Class QI, 3.00%, 7/20/51 | 7,513 | 934,205 | |
| Series 2021-193, Class IU, 3.00%, 11/20/49 | 16,550 | 2,325,949 | |
| Series 2021-209, Class IW, 3.00%, 11/20/51 | 10,731 | 1,428,416 | |
| JPM Lending Facility, 10.70%, (SOFR + 7.00%), 7/15/29(2) | 8,250 | 8,310,085 | |
| LoanDepot GMSR Trust, Series 2025-FT1, Class A, 6.591%, (1 mo. SOFR + 2.75%), 12/19/30(1)(2) | 13,000 | 13,025,675 | |
| Total Collateralized Mortgage Obligations (identified cost $486,705,214) | $ 472,535,498 | ||
| Commercial Mortgage-Backed Securities — 9.0% |
| Security | Principal Amount (000's omitted) | Value | |
| BAMLL Commercial Mortgage Securities Trust: | |||
| Series 2019-BPR, Class ENM, 3.719%, 11/5/32(1)(3) | $ | 910 | $ 776,473 |
| Security | Principal Amount (000's omitted) | Value | |
| BAMLL Commercial Mortgage Securities Trust: (continued) | |||
| Series 2019-BPR, Class FNM, 3.719%, 11/5/32(1)(3) | $ | 3,505 | $ 2,839,531 |
| BBCMS Mortgage Trust, Series 2017-C1, Class D, 3.545%, 2/15/50(1)(3) | 2,200 | 1,522,081 | |
| CFCRE Commercial Mortgage Trust: | |||
| Series 2016-C3, Class C, 4.758%, 1/10/48(3) | 1,300 | 1,283,130 | |
| Series 2016-C3, Class D, 3.052%, 1/10/48(1)(3) | 3,500 | 3,321,063 | |
| CHI Commercial Mortgage Trust: | |||
| Series 2025-110W, Class E, 7.413%, 12/13/40(1)(3) | 17,370 | 17,403,173 | |
| Series 2025-110W, Class ELP, 0.00%, 12/13/40(1)(3)(8) | 210,000 | 0 | |
| Series 2025-110W, Class HRR, 10.238%, 12/13/40(1)(3) | 10,500 | 10,507,795 | |
| COMM Mortgage Trust: | |||
| Series 2013-CR11, Class D, 4.468%, 8/10/50(1)(3) | 5,696 | 5,535,469 | |
| Series 2015-CR22, Class D, 3.699%, 3/10/48(1)(3) | 4,100 | 3,293,229 | |
| CSMC Trust: | |||
| Series 2016-NXSR, Class C, 4.397%, 12/15/49(3) | 2,770 | 2,641,804 | |
| Series 2016-NXSR, Class D, 4.397%, 12/15/49(1)(3) | 3,000 | 2,714,912 | |
| Federal National Mortgage Association Multifamily Connecticut Avenue Securities Trust, Series 2019-01, Class M10, 7.239%, (30-day SOFR Average + 3.364%), 10/25/49(1)(2) | 1,185 | 1,206,459 | |
| Fontainebleau Miami Beach Mortgage Trust, Series 2024-FBLU, Class G, 9.40%, (1 mo. SOFR + 5.65%), 12/15/39(1)(2) | 5,000 | 5,075,500 | |
| GSAT Trust: | |||
| Series 2025-BMF, Class ELP, 0.00%, 7/15/30(1)(3)(8) | 330,000 | 0 | |
| Series 2025-BMF, Class G, 9.05%, (1 mo. SOFR + 5.30%), 7/15/40(1)(2) | 8,900 | 8,921,105 | |
| Series 2025-BMF, Class HRR, 9.59%, (1 mo. SOFR + 5.84%), 7/15/40(1)(2)(9) | 16,500 | 16,538,879 | |
| JPMBB Commercial Mortgage Securities Trust: | |||
| Series 2014-C22, Class D, 4.513%, 9/15/47(1)(3) | 1,376 | 949,399 | |
| Series 2014-C23, Class D, 4.036%, 9/15/47(1)(3) | 3,488 | 3,234,139 | |
| JPMorgan Chase Commercial Mortgage Securities Trust: | |||
| Series 2013-C13, Class D, 3.983%, 1/15/46(1)(3) | 198 | 191,183 | |
| Series 2013-C16, Class D, 4.883%, 12/15/46(1)(3) | 2,498 | 2,370,688 | |
| Series 2014-DSTY, Class B, 3.771%, 6/10/27(1) | 2,600 | 109,200 | |
| Security | Principal Amount (000's omitted) | Value | |
| JPMorgan Chase Commercial Mortgage Securities Trust: (continued) | |||
| Series 2021-MHC, Class C, 5.416%, (1 mo. SOFR + 1.664%), 4/15/38(1)(2) | $ | 1,900 | $ 1,900,971 |
| Morgan Stanley Bank of America Merrill Lynch Trust: | |||
| Series 2015-C23, Class D, 4.204%, 7/15/50(1)(3)(10) | 1,412 | 1,376,572 | |
| Series 2016-C29, Class D, 3.00%, 5/15/49(1)(10) | 3,577 | 2,900,770 | |
| Series 2016-C32, Class D, 3.396%, 12/15/49(1)(3)(10) | 1,600 | 1,377,334 | |
| Morgan Stanley Capital I Trust, Series 2016-UBS12, Class D, 3.312%, 12/15/49(1)(10) | 4,489 | 3,025,463 | |
| UBS-Barclays Commercial Mortgage Trust, Series 2013-C6, Class D, 3.929%, 4/10/46(1)(3) | 3,764 | 3,500,997 | |
| Wells Fargo Commercial Mortgage Trust: | |||
| Series 2015-C31, Class D, 3.852%, 11/15/48 | 2,475 | 2,192,850 | |
| Series 2016-C35, Class D, 3.142%, 7/15/48(1) | 1,850 | 1,761,265 | |
| Series 2016-C36, Class D, 2.942%, 11/15/59(1) | 1,500 | 1,150,051 | |
| Total Commercial Mortgage-Backed Securities (identified cost $112,924,710) | $ 109,621,485 | ||
| Common Stocks — 0.9% |
| Security | Shares | Value | |
| Aerospace and Defense — 0.0% | |||
| IAP Worldwide Services LLC(8)(11)(12) | 30 | $ 0 | |
| $ 0 | |||
| Commercial Services & Supplies — 0.0%† | |||
| Monitronics International, Inc.(11)(12) | 26,092 | $ 291,356 | |
| $ 291,356 | |||
| Containers and Glass Products — 0.0%† | |||
| LG Parent Holding Co.(11)(12) | 166,175 | $ 508,911 | |
| $ 508,911 | |||
| Diversified Financial Services — 0.0% | |||
| Sprint IntermediateCo BV(8)(11)(12) | 6,079 | $ 0 | |
| Sprint IntermediateCo BV(8)(11)(12) | 16,949 | 0 | |
| $ 0 | |||
| Electronic Equipment, Instruments & Components — 0.1% | |||
| Luxco Co. Ltd.(11)(12) | 4,776 | $ 86,015 | |
| Security | Shares | Value | |
| Electronic Equipment, Instruments & Components (continued) | |||
| Range Red Acquisitions LLC, Class A1(8)(11)(12) | 516 | $ 723,814 | |
| $ 809,829 | |||
| Electronics/Electrical — 0.0%† | |||
| Skillsoft Corp.(11)(12) | 7,153 | $ 66,523 | |
| $ 66,523 | |||
| Energy — 0.0%† | |||
| Enviva LLC(11)(12)(13) | 44,272 | $ 699,498 | |
| $ 699,498 | |||
| Health Care — 0.2% | |||
| Akorn Holding Co. LLC(8)(11)(12) | 42,374 | $ 0 | |
| Envision Parent, Inc.(11)(12) | 146,518 | 2,211,543 | |
| $ 2,211,543 | |||
| Household Durables — 0.2% | |||
| Serta Simmons Bedding, Inc.(11)(12) | 246,099 | $ 2,399,465 | |
| Serta SSB Equipment Co.(8)(11)(12) | 246,099 | 0 | |
| $ 2,399,465 | |||
| Investment Companies — 0.0% | |||
| Aegletes BV(8)(11)(12) | 11,215 | $ 0 | |
| $ 0 | |||
| Machinery — 0.0% | |||
| Apex Tool Ultimate Holdings LLC(8)(11)(12) | 18,422 | $ 0 | |
| $ 0 | |||
| Nonferrous Metals/Minerals — 0.1% | |||
| ACNR Holdings, Inc., Class A(11)(12) | 7,669 | $ 779,362 | |
| $ 779,362 | |||
| Oil and Gas — 0.0% | |||
| AFG Holdings, Inc.(8)(11)(12) | 29,751 | $ 0 | |
| $ 0 | |||
| Pharmaceuticals — 0.3% | |||
| Mallinckrodt International Finance SA(11)(12) | 31,584 | $ 3,253,152 | |
| Mallinckrodt PLC(11) | 280 | 25,046 | |
| Par Health, Inc.(11)(12) | 31,864 | 298,725 | |
| $ 3,576,923 | |||
| Security | Shares | Value | |
| Retail — 0.0% | |||
| Jubilee Enterprise PCL, Class A1(8)(11)(12) | 807 | $ 0 | |
| $ 0 | |||
| Retailers (Except Food and Drug) — 0.0% | |||
| Phillips Pet Holding Corp.(8)(11)(12) | 582 | $ 0 | |
| $ 0 | |||
| Telecommunications — 0.0% | |||
| Anuvu(8)(11)(12) | 37,259 | $ 0 | |
| $ 0 | |||
| Total Common Stocks (identified cost $12,856,510) | $ 11,343,410 | ||
| Convertible Bonds — 0.2% |
| Security | Principal Amount* (000's omitted) | Value | |
| Internet Software & Services — 0.1% | |||
| Delivery Hero SE: | |||
| 2.125%, 3/10/29(14) | EUR | 400 | $ 431,063 |
| 3.25%, 2/21/30(14) | EUR | 100 | 114,534 |
| $ 545,597 | |||
| Real Estate Investment Trusts (REITs) — 0.1% | |||
| Pebblebrook Hotel Trust, 1.75%, 12/15/26 | 1,800 | $ 1,741,500 | |
| $ 1,741,500 | |||
| Total Convertible Bonds (identified cost $2,238,608) | $ 2,287,097 | ||
| Corporate Bonds — 49.7% |
| Security | Principal Amount* (000's omitted) | Value | |
| Aerospace and Defense — 1.0% | |||
| Bombardier, Inc.: | |||
| 7.00%, 6/1/32(1) | 710 | $ 751,103 | |
| 7.25%, 7/1/31(1) | 1,000 | 1,066,898 | |
| 8.75%, 11/15/30(1) | 1,125 | 1,216,865 | |
| Czechoslovak Group AS: | |||
| 5.25%, 1/10/31(1) | EUR | 150 | 182,887 |
| 5.25%, 1/10/31(14) | EUR | 250 | 304,811 |
| Security | Principal Amount* (000's omitted) | Value | |
| Aerospace and Defense (continued) | |||
| Moog, Inc., 4.25%, 12/15/27(1) | 955 | $ 946,529 | |
| TransDigm, Inc.: | |||
| 4.875%, 5/1/29 | 1,764 | 1,760,925 | |
| 6.25%, 1/31/34(1) | 365 | 378,943 | |
| 6.375%, 3/1/29(1) | 650 | 671,137 | |
| 6.625%, 3/1/32(1) | 1,045 | 1,088,544 | |
| 6.75%, 8/15/28(1) | 1,812 | 1,846,185 | |
| 6.75%, 1/31/34(1) | 1,455 | 1,516,575 | |
| $ 11,731,402 | |||
| Agriculture — 0.1% | |||
| Darling Ingredients, Inc., 6.00%, 6/15/30(1) | 814 | $ 827,766 | |
| $ 827,766 | |||
| Air Transport — 0.0%† | |||
| Gatwick Airport Finance PLC, 6.00%, 11/21/30(14) | GBP | 290 | $ 391,852 |
| $ 391,852 | |||
| Airlines — 0.2% | |||
| VistaJet Malta Finance PLC/Vista Management Holding, Inc.: | |||
| 6.375%, 2/1/30(1) | 2,043 | $ 1,945,771 | |
| 9.50%, 6/1/28(1) | 954 | 990,210 | |
| $ 2,935,981 | |||
| Apparel & Luxury Goods — 0.8% | |||
| Beach Acquisition Bidco LLC: | |||
| 5.25%, 7/15/32(1) | EUR | 330 | $ 395,763 |
| 5.25%, 7/15/32(14) | EUR | 200 | 239,857 |
| 10.00%, (10.00% cash or 10.75% PIK), 7/15/33(1)(15) | 6,300 | 6,959,188 | |
| Champ Acquisition Corp., 8.375%, 12/1/31(1) | 1,366 | 1,478,837 | |
| Levi Strauss & Co., 4.00%, 8/15/30(1) | EUR | 210 | 250,933 |
| Samsonite Finco SARL, 4.375%, 2/15/33(1) | EUR | 240 | 281,907 |
| VF Corp., 0.25%, 2/25/28 | EUR | 478 | 519,805 |
| $ 10,126,290 | |||
| Automotive — 1.5% | |||
| Asbury Automotive Group, Inc.: | |||
| 4.625%, 11/15/29(1) | 512 | $ 503,714 | |
| 4.75%, 3/1/30 | 1,134 | 1,121,943 | |
| 5.00%, 2/15/32(1) | 217 | 211,008 | |
| Clarios Global LP/Clarios U.S. Finance Co.: | |||
| 4.75%, 6/15/31(14) | EUR | 280 | 334,515 |
| Security | Principal Amount* (000's omitted) | Value | |
| Automotive (continued) | |||
| Clarios Global LP/Clarios U.S. Finance Co.: (continued) | |||
| 6.75%, 2/15/30(1) | 1,840 | $ 1,925,670 | |
| 6.75%, 9/15/32(1) | 1,495 | 1,551,193 | |
| Dana Financing Luxembourg SARL, 8.50%, 7/15/31(14) | EUR | 100 | 125,998 |
| Forvia SE: | |||
| 5.50%, 6/15/31(14) | EUR | 223 | 272,257 |
| 8.00%, 6/15/30(1) | 300 | 321,836 | |
| Gestamp Automocion SA, 4.375%, 10/15/30(14) | EUR | 315 | 374,170 |
| IHO Verwaltungs GmbH: | |||
| 6.375%, (6.375% cash or 7.125% PIK), 5/15/29(1)(15) | 200 | 202,479 | |
| 7.00%, (7.00% cash or 7.75% PIK), 11/15/31(14)(15) | EUR | 100 | 127,255 |
| 8.75%, (8.75% cash or 9.50% PIK), 5/15/28(14)(15) | EUR | 320 | 393,745 |
| JB Poindexter & Co., Inc., 8.75%, 12/15/31(1) | 1,488 | 1,560,505 | |
| Lithia Motors, Inc.: | |||
| 3.875%, 6/1/29(1) | 651 | 629,925 | |
| 4.375%, 1/15/31(1) | 1,171 | 1,126,236 | |
| 4.625%, 12/15/27(1) | 514 | 515,272 | |
| New Flyer Holdings, Inc., 9.25%, 7/1/30(1) | 1,248 | 1,347,705 | |
| Nissan Motor Co. Ltd., 7.50%, 7/17/30(1) | 200 | 210,047 | |
| RCI Banque SA: | |||
| 4.75% to 12/24/31, 3/24/37(14)(16) | EUR | 100 | 120,032 |
| 5.50% to 7/9/29, 10/9/34(14)(16) | EUR | 100 | 124,079 |
| Real Hero Merger Sub 2, Inc., 6.25%, 2/1/29(1) | 2,173 | 941,866 | |
| Renault SA, 2.375%, 5/25/26(14) | EUR | 100 | 117,432 |
| Sonic Automotive, Inc.: | |||
| 4.625%, 11/15/29(1) | 2,297 | 2,256,431 | |
| 4.875%, 11/15/31(1) | 1,081 | 1,048,701 | |
| Volkswagen International Finance NV, 7.875% to 9/6/32(14)(16)(17) | EUR | 200 | 271,408 |
| $ 17,735,422 | |||
| Beverages — 0.1% | |||
| Primo Water Holdings, Inc./Triton Water Holdings, Inc., 6.25%, 4/1/29(1) | 1,712 | $ 1,726,653 | |
| $ 1,726,653 | |||
| Building and Development — 3.1% | |||
| AmeriTex HoldCo Intermediate LLC, 7.625%, 8/15/33(1) | 989 | $ 1,044,165 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Building and Development (continued) | |||
| Ashton Woods USA LLC/Ashton Woods Finance Co.: | |||
| 4.625%, 8/1/29(1) | 392 | $ 374,079 | |
| 4.625%, 4/1/30(1) | 1,097 | 1,052,707 | |
| Builders FirstSource, Inc.: | |||
| 4.25%, 2/1/32(1) | 2,498 | 2,380,747 | |
| 5.00%, 3/1/30(1) | 1,085 | 1,082,641 | |
| CP Atlas Buyer, Inc.: | |||
| 9.75%, 7/15/30(1) | 1,829 | 1,896,151 | |
| 12.75%, (7.00% cash and 5.75% PIK), 1/15/31(1) | 977 | 926,550 | |
| EMRLD Borrower LP/Emerald Co-Issuer, Inc.: | |||
| 6.375%, 12/15/30(14) | EUR | 700 | 859,728 |
| 6.625%, 12/15/30(1) | 1,782 | 1,858,202 | |
| HT Troplast GmbH, 9.375%, 7/15/28(14) | EUR | 125 | 153,069 |
| JH North America Holdings, Inc.: | |||
| 5.875%, 1/31/31(1) | 704 | 719,541 | |
| 6.125%, 7/31/32(1) | 905 | 929,527 | |
| K Hovnanian Enterprises, Inc.: | |||
| 8.00%, 4/1/31(1) | 650 | 663,892 | |
| 8.375%, 10/1/33(1) | 925 | 940,780 | |
| LBM Acquisition LLC: | |||
| 6.25%, 1/15/29(1) | 706 | 636,053 | |
| 9.50%, 6/15/31(1) | 1,947 | 2,032,064 | |
| Masterbrand, Inc., 7.00%, 7/15/32(1) | 1,620 | 1,680,313 | |
| Miller Homes Group Finco PLC, 6.314%, (3 mo. EURIBOR + 4.25%), 10/15/30(2)(14) | EUR | 200 | 238,974 |
| New Home Co., Inc., 8.50%, 11/1/30(1) | 1,025 | 1,056,881 | |
| Patrick Industries, Inc.: | |||
| 4.75%, 5/1/29(1) | 1,187 | 1,179,782 | |
| 6.375%, 11/1/32(1) | 995 | 1,021,675 | |
| Quikrete Holdings, Inc.: | |||
| 6.375%, 3/1/32(1) | 2,027 | 2,111,191 | |
| 6.75%, 3/1/33(1) | 2,221 | 2,320,903 | |
| Smyrna Ready Mix Concrete LLC, 6.00%, 11/1/28(1) | 3,078 | 3,094,597 | |
| Specialty Building Products Holdings LLC/SBP Finance Corp., 7.75%, 10/15/29(1) | 2,264 | 2,211,022 | |
| Standard Building Solutions, Inc., 6.50%, 8/15/32(1) | 670 | 690,265 | |
| Standard Industries, Inc.: | |||
| 3.375%, 1/15/31(1) | 2,339 | 2,150,266 | |
| 4.375%, 7/15/30(1) | 1,779 | 1,717,421 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Building and Development (continued) | |||
| Taylor Morrison Communities, Inc., 5.75%, 11/15/32(1) | 520 | $ 535,351 | |
| $ 37,558,537 | |||
| Business Equipment and Services — 0.6% | |||
| Adtalem Global Education, Inc., 5.50%, 3/1/28(1) | 1,900 | $ 1,902,423 | |
| Allied Universal Holdco LLC, 7.875%, 2/15/31(1) | 1,630 | 1,718,792 | |
| Allied Universal Holdco LLC/Allied Universal Finance Corp., 6.00%, 6/1/29(1) | 1,426 | 1,412,414 | |
| Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL: | |||
| 4.625%, 6/1/28(1) | 1,316 | 1,295,768 | |
| 4.625%, 6/1/28(1) | 549 | 541,815 | |
| 4.875%, 6/1/28(14) | GBP | 650 | 857,041 |
| $ 7,728,253 | |||
| Cable and Satellite Television — 1.2% | |||
| Altice Financing SA: | |||
| 4.25%, 8/15/29(14) | EUR | 200 | $ 160,819 |
| 5.00%, 1/15/28(1) | 814 | 570,663 | |
| 5.75%, 8/15/29(1) | 611 | 424,312 | |
| CCO Holdings LLC/CCO Holdings Capital Corp.: | |||
| 4.25%, 2/1/31(1) | 2,589 | 2,380,469 | |
| 4.50%, 8/15/30(1) | 1,814 | 1,709,100 | |
| 4.50%, 5/1/32 | 535 | 480,528 | |
| 4.75%, 3/1/30(1) | 1,789 | 1,709,691 | |
| 5.375%, 6/1/29(1) | 595 | 588,693 | |
| 6.375%, 9/1/29(1) | 1,974 | 2,002,131 | |
| DISH Network Corp., 11.75%, 11/15/27(1) | 2,075 | 2,160,874 | |
| Virgin Media Secured Finance PLC: | |||
| 4.125%, 8/15/30(14) | GBP | 410 | 497,093 |
| 4.50%, 8/15/30(1) | 1,840 | 1,710,004 | |
| 5.25%, 5/15/29(14) | GBP | 200 | 261,560 |
| Ziggo BV, 4.875%, 1/15/30(1) | 628 | 594,192 | |
| $ 15,250,129 | |||
| Capital Goods — 0.1% | |||
| BWX Technologies, Inc.: | |||
| 4.125%, 6/30/28(1) | 948 | $ 937,079 | |
| 4.125%, 4/15/29(1) | 733 | 714,855 | |
| $ 1,651,934 | |||
| Security | Principal Amount* (000's omitted) | Value | |
| Chemicals — 0.4% | |||
| Calderys Financing II LLC, 11.75%, (11.75% cash or 12.50% PIK), 6/1/28(1)(15) | 1,445 | $ 1,504,606 | |
| Calderys Financing LLC, 11.25%, 6/1/28(1) | 2,315 | 2,461,070 | |
| INEOS Finance PLC, 7.50%, 4/15/29(1) | 200 | 173,921 | |
| Olympus Water U.S. Holding Corp., 5.375%, 10/1/29(14) | EUR | 235 | 257,971 |
| $ 4,397,568 | |||
| Chemicals and Plastics — 1.3% | |||
| ASK Chemicals Deutschland Holding GmbH, 10.00%, 11/15/29(14) | EUR | 100 | $ 116,352 |
| Avient Corp.: | |||
| 6.25%, 11/1/31(1) | 893 | 918,421 | |
| 7.125%, 8/1/30(1) | 1,762 | 1,820,735 | |
| Celanese U.S. Holdings LLC: | |||
| 7.20%, 11/15/33 | 2,864 | 3,028,082 | |
| 7.375%, 2/15/34 | 1,489 | 1,513,755 | |
| Cerdia Finanz GmbH, 9.375%, 10/3/31(1) | 1,215 | 1,262,081 | |
| INEOS Finance PLC: | |||
| 6.375%, 4/15/29(14) | EUR | 100 | 103,791 |
| 7.25%, 3/31/31(14) | EUR | 150 | 152,566 |
| Italmatch Chemicals SpA, 10.00%, 2/6/28(14) | EUR | 400 | 490,681 |
| Olympus Water U.S. Holding Corp.: | |||
| 6.125%, 2/15/33(1) | EUR | 425 | 497,136 |
| 7.25%, 2/15/33(1) | 4,020 | 4,043,523 | |
| Valvoline, Inc., 3.625%, 6/15/31(1) | 1,403 | 1,290,563 | |
| WR Grace Holdings LLC, 7.375%, 3/1/31(1) | 380 | 390,569 | |
| $ 15,628,255 | |||
| Clothing/Textiles — 0.0%† | |||
| PrestigeBidCo GmbH, 5.776%, (3 mo. EURIBOR + 3.75%), 7/1/29(2)(14) | EUR | 100 | $ 118,745 |
| $ 118,745 | |||
| Commercial Services — 2.8% | |||
| Aegis Lux 1a SARL, 5.625% PIK, 10/29/31(1) | EUR | 100 | $ 119,275 |
| Allied Universal Holdco LLC/Allied Universal Finance Corp., 6.875%, 6/15/30(1) | 745 | 776,105 | |
| Amber Finco PLC, 6.625%, 7/15/29(1) | EUR | 165 | 204,350 |
| AMN Healthcare, Inc., 4.00%, 4/15/29(1) | 1,696 | 1,620,876 | |
| APi Group DE, Inc., 4.75%, 10/15/29(1) | 2,510 | 2,468,774 | |
| Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 8.375%, 6/15/32(1) | 545 | 563,130 | |
| BCP V Modular Services Finance II PLC, 4.75%, 11/30/28(14) | EUR | 150 | 167,067 |
| Security | Principal Amount* (000's omitted) | Value | |
| Commercial Services (continued) | |||
| Belron U.K. Finance PLC: | |||
| 4.625%, 10/15/29(1) | EUR | 230 | $ 278,618 |
| 5.75%, 10/15/29(1) | 2,115 | 2,160,917 | |
| Block, Inc.: | |||
| 5.625%, 8/15/30(1) | 1,240 | 1,265,856 | |
| 6.00%, 8/15/33(1) | 1,385 | 1,422,629 | |
| Boost Newco Borrower LLC, 7.50%, 1/15/31(1) | 1,328 | 1,412,162 | |
| Boost Newco Borrower LLC/GTCR W Dutch Finance Sub BV, 8.50%, 1/15/31(14) | GBP | 200 | 288,624 |
| Champions Financing, Inc., 8.75%, 2/15/29(1) | 1,284 | 1,266,826 | |
| Cimpress PLC, 7.375%, 9/15/32(1) | 1,128 | 1,151,974 | |
| Currenta Group Holdings SARL: | |||
| 6.064%, (3 mo. EURIBOR + 4.00%), 5/15/32(1)(2) | EUR | 200 | 237,038 |
| 6.064%, 5/15/32(2)(14) | EUR | 170 | 201,482 |
| HealthEquity, Inc., 4.50%, 10/1/29(1) | 1,674 | 1,646,621 | |
| Herc Holdings, Inc.: | |||
| 5.75%, 3/15/31(1) | 315 | 319,865 | |
| 6.00%, 3/15/34(1) | 380 | 385,300 | |
| 7.00%, 6/15/30(1) | 1,180 | 1,242,568 | |
| 7.25%, 6/15/33(1) | 1,010 | 1,071,584 | |
| IPD 3 BV: | |||
| 5.475%, (3 mo. EURIBOR + 3.375%), 6/15/31(2)(14) | EUR | 100 | 118,541 |
| 5.50%, 6/15/31(1) | EUR | 200 | 238,207 |
| 5.50%, 6/15/31(14) | EUR | 100 | 119,103 |
| Korn Ferry, 4.625%, 12/15/27(1) | 1,912 | 1,913,994 | |
| Mavis Tire Express Services Topco Corp., 6.50%, 5/15/29(1) | 2,923 | 2,896,326 | |
| Multiversity SpA: | |||
| 7.125%, 5/17/31(1) | EUR | 120 | 150,931 |
| 7.125%, 5/17/31(14) | EUR | 100 | 125,776 |
| NESCO Holdings II, Inc., 5.50%, 4/15/29(1) | 1,647 | 1,623,706 | |
| Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc.: | |||
| 5.50%, 5/15/33(14) | EUR | 535 | 645,128 |
| 6.75%, 8/15/32(1) | 1,046 | 1,080,609 | |
| Synergy Infrastructure Holdings LLC, 7.875%, 12/1/30(1) | 1,340 | 1,392,559 | |
| VT Topco, Inc., 8.50%, 8/15/30(1) | 1,738 | 1,823,409 | |
| Wand NewCo 3, Inc., 7.625%, 1/30/32(1) | 2,214 | 2,344,250 | |
| $ 34,744,180 | |||
| Computers — 1.1% | |||
| Almaviva-The Italian Innovation Co. SpA, 5.00%, 10/30/30(14) | EUR | 420 | $ 498,717 |
| Security | Principal Amount* (000's omitted) | Value | |
| Computers (continued) | |||
| Amentum Holdings, Inc., 7.25%, 8/1/32(1) | 1,042 | $ 1,098,975 | |
| Atos SE: | |||
| 5.20% to 12/18/26, 12/18/30(4)(14) | EUR | 252 | 293,366 |
| 9.36% to 12/18/26, 12/18/29(4)(14) | EUR | 377 | 508,172 |
| CACI International, Inc., 6.375%, 6/15/33(1) | 1,110 | 1,149,881 | |
| Diebold Nixdorf, Inc., 7.75%, 3/31/30(1) | 1,892 | 2,018,132 | |
| Fortress Intermediate 3, Inc., 7.50%, 6/1/31(1) | 3,000 | 3,134,070 | |
| Insight Enterprises, Inc., 6.625%, 5/15/32(1) | 1,772 | 1,823,062 | |
| Seagate Data Storage Technology Pte. Ltd., 9.625%, 12/1/32(1) | 2,300 | 2,612,429 | |
| $ 13,136,804 | |||
| Containers and Glass Products — 0.4% | |||
| Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC: | |||
| 3.00%, 9/1/29(14) | EUR | 190 | $ 212,678 |
| 4.00%, 9/1/29(1) | 1,439 | 1,355,891 | |
| 5.00%, 1/30/31(14) | EUR | 105 | 124,869 |
| 6.25%, 1/30/31(1) | 375 | 383,771 | |
| Canpack SA/Canpack U.S. LLC, 3.875%, 11/15/29(1) | 2,027 | 1,941,213 | |
| Crown Americas LLC/Crown Americas Capital Corp. V, 4.25%, 9/30/26 | 660 | 657,911 | |
| $ 4,676,333 | |||
| Cosmetics/Toiletries — 0.1% | |||
| Edgewell Personal Care Co.: | |||
| 4.125%, 4/1/29(1) | 441 | $ 421,988 | |
| 5.50%, 6/1/28(1) | 1,067 | 1,070,203 | |
| $ 1,492,191 | |||
| Distribution & Wholesale — 0.8% | |||
| Performance Food Group, Inc.: | |||
| 4.25%, 8/1/29(1) | 2,429 | $ 2,383,815 | |
| 5.50%, 10/15/27(1) | 935 | 936,961 | |
| 6.125%, 9/15/32(1) | 960 | 990,871 | |
| RB Global Holdings, Inc.: | |||
| 6.75%, 3/15/28(1) | 1,132 | 1,159,057 | |
| 7.75%, 3/15/31(1) | 422 | 441,714 | |
| Rexel SA, 5.25%, 9/15/30(14) | EUR | 150 | 183,531 |
| Windsor Holdings III LLC, 8.50%, 6/15/30(1) | 2,847 | 3,011,010 | |
| Wolseley Group Finco PLC, 9.75%, 1/31/31(14) | GBP | 180 | 235,790 |
| $ 9,342,749 | |||
| Security | Principal Amount* (000's omitted) | Value | |
| Diversified Financial Services — 1.4% | |||
| Azorra Finance Ltd., 7.25%, 1/15/31(1) | 1,194 | $ 1,255,834 | |
| CI Financial Corp., 4.10%, 6/15/51 | 1,365 | 936,388 | |
| Focus Financial Partners LLC, 6.75%, 9/15/31(1) | 1,600 | 1,645,918 | |
| Hightower Holding LLC, 9.125%, 1/31/30(1) | 1,576 | 1,677,302 | |
| MDGH GMTN RSC Ltd., 4.375%, 11/22/33(14) | 400 | 394,127 | |
| Phoenix Aviation Capital Ltd., 9.25%, 7/15/30(1) | 2,124 | 2,264,564 | |
| Rocket Cos., Inc.: | |||
| 6.125%, 8/1/30(1) | 1,260 | 1,303,160 | |
| 6.375%, 8/1/33(1) | 1,890 | 1,972,912 | |
| Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc.: | |||
| 3.625%, 3/1/29(1) | 2,648 | 2,559,592 | |
| 4.00%, 10/15/33(1) | 225 | 209,209 | |
| Sherwood Financing PLC, 7.625%, 12/15/29(14) | EUR | 390 | 446,749 |
| Stonebriar ABF Issuer LLC, 8.125%, 12/15/30(1) | 1,330 | 1,369,847 | |
| Unifin Financiera SAB de CV: | |||
| 7.375%, 2/12/26(8)(18) | 620 | 0 | |
| 7.375%, 2/12/26(8)(18) | 620 | 0 | |
| UWM Holdings LLC, 6.25%, 3/15/31(1) | 1,438 | 1,436,398 | |
| $ 17,472,000 | |||
| Drugs — 0.2% | |||
| Perrigo Finance Unlimited Co.: | |||
| 4.90%, 6/15/30 | 2,255 | $ 2,183,033 | |
| 4.90%, 12/15/44 | 588 | 469,510 | |
| 5.375%, 9/30/32 | EUR | 250 | 299,711 |
| $ 2,952,254 | |||
| Ecological Services and Equipment — 0.8% | |||
| Biffa Group Holdings Ltd.: | |||
| 5.25%, 6/15/31(14) | EUR | 335 | $ 393,538 |
| 7.375%, 6/15/31(14) | GBP | 200 | 272,587 |
| Clean Harbors, Inc.: | |||
| 5.125%, 7/15/29(1) | 332 | 332,584 | |
| 6.375%, 2/1/31(1) | 643 | 662,936 | |
| GFL Environmental, Inc.: | |||
| 4.375%, 8/15/29(1) | 2,000 | 1,968,144 | |
| 4.75%, 6/15/29(1) | 3,095 | 3,091,137 | |
| Luna 2 5SARL, 5.50%, 7/1/32(14) | EUR | 350 | 420,206 |
| Reworld Holding Corp., 4.875%, 12/1/29(1) | 1,536 | 1,477,785 | |
| Wrangler Holdco Corp., 6.625%, 4/1/32(1) | 690 | 725,033 | |
| $ 9,343,950 | |||
| Security | Principal Amount* (000's omitted) | Value | |
| Electric Utilities — 1.7% | |||
| Alpha Generation LLC, 6.75%, 10/15/32(1) | 2,791 | $ 2,890,736 | |
| Atlantica Sustainable Infrastructure Ltd., 4.125%, 6/15/28(1) | 504 | 491,070 | |
| California Buyer Ltd./Atlantica Sustainable Infrastructure PLC: | |||
| 5.625%, 2/15/32(1) | EUR | 385 | 463,252 |
| 5.625%, 2/15/32(14) | EUR | 100 | 120,325 |
| 6.375%, 2/15/32(1) | 1,115 | 1,119,253 | |
| Clearway Energy Operating LLC, 3.75%, 2/15/31(1) | 694 | 650,779 | |
| Electricite de France SA, 7.50% to 9/6/28(14)(16)(17) | EUR | 400 | 512,768 |
| Enel SpA, 6.625% to 4/16/31(14)(16)(17) | EUR | 300 | 396,059 |
| Pattern Energy Operations LP/Pattern Energy Operations, Inc., 4.50%, 8/15/28(1) | 1,112 | 1,097,420 | |
| Public Power Corp. SA, 4.625%, 10/31/31(14) | EUR | 300 | 361,951 |
| TransAlta Corp., 5.875%, 2/1/34 | 1,230 | 1,239,213 | |
| VoltaGrid LLC, 7.375%, 11/1/30(1) | 2,535 | 2,512,770 | |
| WESCO Distribution, Inc.: | |||
| 6.375%, 3/15/29(1) | 1,848 | 1,910,682 | |
| 6.375%, 3/15/33(1) | 995 | 1,039,485 | |
| 6.625%, 3/15/32(1) | 854 | 892,784 | |
| 7.25%, 6/15/28(1) | 915 | 928,797 | |
| XPLR Infrastructure Operating Partners LP: | |||
| 4.50%, 9/15/27(1) | 1,207 | 1,195,265 | |
| 7.75%, 4/15/34(1) | 1,125 | 1,144,201 | |
| 8.375%, 1/15/31(1) | 760 | 799,091 | |
| 8.625%, 3/15/33(1) | 765 | 805,315 | |
| $ 20,571,216 | |||
| Electronics/Electrical — 0.8% | |||
| Castello BC Bidco SpA: | |||
| 6.519%, (3 mo. EURIBOR + 4.50%), 11/14/31(2)(14) | EUR | 220 | $ 261,200 |
| 6.519%, (3 mo. EURIBOR + 4.50%), 11/14/31(1)(2) | EUR | 125 | 148,409 |
| Imola Merger Corp., 4.75%, 5/15/29(1) | 4,165 | 4,114,436 | |
| Open Text Corp., 3.875%, 2/15/28(1) | 1,009 | 990,821 | |
| Open Text Holdings, Inc., 4.125%, 2/15/30(1) | 883 | 844,578 | |
| RWE AG, 6.625% to 1/20/26, 7/30/75(14)(16) | 266 | 267,059 | |
| Sensata Technologies, Inc.: | |||
| 3.75%, 2/15/31(1) | 1,660 | 1,558,833 | |
| 4.375%, 2/15/30(1) | 627 | 615,002 | |
| 6.625%, 7/15/32(1) | 400 | 419,159 | |
| SS&C Technologies, Inc., 5.50%, 9/30/27(1) | 517 | 517,808 | |
| $ 9,737,305 | |||
| Security | Principal Amount* (000's omitted) | Value | |
| Energy — 0.9% | |||
| Sunoco LP: | |||
| 4.50%, 10/1/29(1) | 376 | $ 367,411 | |
| 4.625%, 5/1/30(1) | 1,501 | 1,459,127 | |
| 5.875%, 3/15/34(1) | 1,170 | 1,170,446 | |
| 7.25%, 5/1/32(1) | 2,146 | 2,270,460 | |
| 7.875% to 9/18/30(1)(16)(17) | 4,565 | 4,693,003 | |
| Sunoco LP/Sunoco Finance Corp., 4.50%, 4/30/30 | 1,692 | 1,653,482 | |
| $ 11,613,929 | |||
| Engineering & Construction — 0.6% | |||
| Arcosa, Inc., 6.875%, 8/15/32(1) | 1,046 | $ 1,106,662 | |
| Artera Services LLC, 8.50%, 2/15/31(1) | 1,535 | 1,275,725 | |
| Dycom Industries, Inc., 4.50%, 4/15/29(1) | 1,389 | 1,373,137 | |
| OHL Operaciones SA, 9.75%, (5.10% cash and 4.65% PIK), 12/31/29(14) | EUR | 284 | 313,290 |
| TopBuild Corp., 4.125%, 2/15/32(1) | 1,562 | 1,484,959 | |
| VM Consolidated, Inc., 5.50%, 4/15/29(1) | 1,666 | 1,668,216 | |
| $ 7,221,989 | |||
| Entertainment — 2.0% | |||
| Allwyn Entertainment Financing U.K. PLC: | |||
| 4.125%, 2/15/31(1) | EUR | 405 | $ 469,621 |
| 7.25%, 4/30/30(14) | EUR | 473 | 584,646 |
| 7.875%, 4/30/29(1) | 1,984 | 2,066,093 | |
| Asmodee Group AB, 4.25%, 12/15/31(14) | EUR | 130 | 154,231 |
| Brightstar Lottery PLC/Brightstar Global Solutions Corp., 5.75%, 1/15/33(1) | 805 | 799,611 | |
| Caesars Entertainment, Inc.: | |||
| 4.625%, 10/15/29(1) | 529 | 507,784 | |
| 6.00%, 10/15/32(1) | 542 | 527,479 | |
| 6.50%, 2/15/32(1) | 1,068 | 1,094,656 | |
| 7.00%, 2/15/30(1) | 1,800 | 1,865,029 | |
| Churchill Downs, Inc., 5.75%, 4/1/30(1) | 1,751 | 1,769,077 | |
| Cirsa Finance International SARL: | |||
| 4.875%, 10/15/31(1) | EUR | 250 | 302,010 |
| 6.50%, 3/15/29(14) | EUR | 200 | 244,586 |
| 7.875%, 7/31/28(14) | EUR | 100 | 122,909 |
| CPUK Finance Ltd.: | |||
| 6.875%, 8/28/32(14) | GBP | 380 | 512,276 |
| 7.875%, 8/28/29(14) | GBP | 130 | 182,479 |
| Flutter Treasury DAC: | |||
| 4.00%, 6/4/31(1) | EUR | 115 | 135,288 |
| 5.00%, 4/29/29(14) | EUR | 135 | 163,981 |
| 5.875%, 6/4/31(1) | 1,507 | 1,528,769 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Entertainment (continued) | |||
| Intralot Capital Luxembourg SA, 6.75%, 10/15/31(14) | EUR | 550 | $ 644,785 |
| LHMC Finco 2 SARL: | |||
| 9.375%, (8.625% cash or 9.375% PIK), 5/15/30(1)(15) | EUR | 105 | 128,255 |
| 9.375%, (8.625% cash or 9.375% PIK), 5/15/30(14)(15) | EUR | 210 | 256,510 |
| Lottomatica Group SpA, 4.875%, 1/31/31(14) | EUR | 430 | 521,941 |
| Mohegan Tribal Gaming Authority/MS Digital Entertainment Holdings LLC, 8.25%, 4/15/30(1) | 1,687 | 1,763,003 | |
| Motion Bondco DAC: | |||
| 4.50%, 11/15/27(14) | EUR | 100 | 112,752 |
| 6.625%, 11/15/27(1) | 635 | 616,999 | |
| Motion Finco SARL, 8.375%, 2/15/32(1) | 589 | 529,450 | |
| Rivers Enterprise Lender LLC/Rivers Enterprise Lender Corp., 6.25%, 10/15/30(1) | 1,230 | 1,256,075 | |
| Speedway Motorsports LLC/Speedway Funding II, Inc., 4.875%, 11/1/27(1) | 1,515 | 1,513,955 | |
| Voyager Parent LLC, 9.25%, 7/1/32(1) | 3,155 | 3,349,761 | |
| Warnermedia Holdings, Inc.: | |||
| 4.054%, 3/15/29 | 208 | 202,361 | |
| 5.05%, 3/15/42 | 725 | 512,031 | |
| $ 24,438,403 | |||
| Financial Intermediaries — 0.3% | |||
| Ally Financial, Inc., Series B, 4.70% to 5/15/26(16)(17) | 2,198 | $ 2,184,597 | |
| Alpha Holding SA de CV: | |||
| 9.00%, 2/10/25(1)(18) | 721 | 5,409 | |
| 10.00%, 12/19/22(1)(18) | 188 | 1,413 | |
| Compass Group Diversified Holdings LLC, 5.25%, 4/15/29(1) | 1,270 | 1,179,277 | |
| $ 3,370,696 | |||
| Food Products — 0.5% | |||
| Froneri Lux FinCo SARL, 4.75%, 8/1/32(14) | EUR | 325 | $ 385,690 |
| Ingles Markets, Inc., 4.00%, 6/15/31(1) | 1,502 | 1,426,519 | |
| Irca SpA/Gallarate, 5.85%, (3 mo. EURIBOR + 3.75%), 12/15/29(2)(14) | EUR | 130 | 155,622 |
| La Doria SpA, 5.449%, (3 mo. EURIBOR + 3.375%), 12/30/30(2)(14) | EUR | 140 | 166,464 |
| Pilgrim's Pride Corp., 3.50%, 3/1/32 | 1,979 | 1,829,863 | |
| Post Holdings, Inc., 6.25%, 2/15/32(1) | 1,176 | 1,209,781 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Food Products (continued) | |||
| Premier Foods Finance PLC, 3.50%, 10/15/26(14) | GBP | 125 | $ 167,021 |
| Viking Baked Goods Acquisition Corp., 8.625%, 11/1/31(1) | 882 | 887,038 | |
| $ 6,227,998 | |||
| Food Service — 1.2% | |||
| 1011778 BC ULC/New Red Finance, Inc.: | |||
| 3.875%, 1/15/28(1) | 1,906 | $ 1,880,644 | |
| 4.00%, 10/15/30(1) | 2,705 | 2,579,310 | |
| 4.375%, 1/15/28(1) | 1,014 | 1,011,277 | |
| Chobani Holdco II LLC, 9.50% PIK to 4/1/26, 10/1/29(1)(15) | 2,696 | 2,884,317 | |
| Chobani LLC/Chobani Finance Corp., Inc.: | |||
| 4.625%, 11/15/28(1) | 1,375 | 1,380,313 | |
| 7.625%, 7/1/29(1) | 2,278 | 2,379,079 | |
| U.S. Foods, Inc., 4.75%, 2/15/29(1) | 1,837 | 1,829,430 | |
| Yum! Brands, Inc., 3.625%, 3/15/31 | 603 | 571,090 | |
| $ 14,515,460 | |||
| Food/Drug Retailers — 0.3% | |||
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC: | |||
| 4.875%, 2/15/30(1) | 1,028 | $ 1,020,712 | |
| 5.875%, 2/15/28(1) | 2,145 | 2,160,535 | |
| $ 3,181,247 | |||
| Forest Products & Paper — 0.1% | |||
| WEPA Hygieneprodukte GmbH: | |||
| 4.50%, 11/30/32(14) | EUR | 200 | $ 236,047 |
| 5.625%, 1/15/31(14) | EUR | 660 | 812,973 |
| $ 1,049,020 | |||
| Health Care — 3.1% | |||
| Bausch & Lomb Netherlands BV & Bausch & Lomb, Inc., 5.872%, (3 mo. EURIBOR + 3.875%), 1/15/31(2)(14) | EUR | 310 | $ 370,814 |
| CHS/Community Health Systems, Inc., 6.875%, 4/15/29(1) | 1,213 | 1,080,722 | |
| Concentra Health Services, Inc., 6.875%, 7/15/32(1) | 480 | 502,586 | |
| Encompass Health Corp.: | |||
| 4.625%, 4/1/31 | 683 | 671,276 | |
| 4.75%, 2/1/30 | 639 | 637,390 | |
| Fortrea Holdings, Inc., 7.50%, 7/1/30(1) | 1,382 | 1,414,278 | |
| Global Medical Response, Inc., 7.375%, 10/1/32(1) | 1,318 | 1,372,537 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Health Care (continued) | |||
| Gruppo San Donato SPA, 6.50%, 10/31/31(14) | EUR | 200 | $ 239,760 |
| Heartland Dental LLC/Heartland Dental Finance Corp., 10.50%, 4/30/28(1) | 858 | 900,713 | |
| IQVIA, Inc.: | |||
| 2.25%, 3/15/29(14) | EUR | 300 | 342,665 |
| 5.00%, 10/15/26(1) | 850 | 849,972 | |
| 5.00%, 5/15/27(1) | 685 | 685,323 | |
| 6.25%, 6/1/32(1) | 1,970 | 2,060,951 | |
| 6.50%, 5/15/30(1) | 825 | 856,499 | |
| LifePoint Health, Inc.: | |||
| 5.375%, 1/15/29(1) | 2,888 | 2,845,944 | |
| 9.875%, 8/15/30(1) | 825 | 889,303 | |
| 10.00%, 6/1/32(1) | 375 | 398,750 | |
| Medline Borrower LP, 5.25%, 10/1/29(1) | 5,431 | 5,463,564 | |
| Molina Healthcare, Inc.: | |||
| 3.875%, 11/15/30(1) | 1,680 | 1,560,453 | |
| 3.875%, 5/15/32(1) | 1,062 | 966,539 | |
| 6.25%, 1/15/33(1) | 647 | 660,160 | |
| Option Care Health, Inc., 4.375%, 10/31/29(1) | 1,991 | 1,953,888 | |
| Surgery Center Holdings, Inc., 7.25%, 4/15/32(1) | 1,201 | 1,216,275 | |
| Team Health Holdings, Inc.: | |||
| 8.375%, 6/30/28(1) | 951 | 964,186 | |
| 13.50%, (9.00% cash and 4.50% PIK), 6/30/28(1) | 1,738 | 1,841,036 | |
| Tenet Healthcare Corp.: | |||
| 4.375%, 1/15/30 | 187 | 183,635 | |
| 5.125%, 11/1/27 | 1,607 | 1,616,090 | |
| 5.50%, 11/15/32(1) | 925 | 938,279 | |
| 6.00%, 11/15/33(1) | 480 | 494,505 | |
| 6.125%, 10/1/28 | 1,115 | 1,120,667 | |
| U.S. Acute Care Solutions LLC, 9.75%, 5/15/29(1) | 2,195 | 2,214,019 | |
| Varex Imaging Corp., 7.875%, 10/15/27(1) | 387 | 396,142 | |
| $ 37,708,921 | |||
| Health Care Technology — 0.4% | |||
| athenahealth Group, Inc., 6.50%, 2/15/30(1) | 4,789 | $ 4,778,658 | |
| $ 4,778,658 | |||
| Home Furnishings — 0.2% | |||
| Somnigroup International, Inc.: | |||
| 3.875%, 10/15/31(1) | 1,932 | $ 1,810,690 | |
| 4.00%, 4/15/29(1) | 968 | 944,501 | |
| $ 2,755,191 | |||
| Security | Principal Amount* (000's omitted) | Value | |
| Homebuilders/Real Estate — 0.0%† | |||
| M/I Homes, Inc.: | |||
| 3.95%, 2/15/30 | 210 | $ 203,039 | |
| 4.95%, 2/1/28 | 252 | 252,532 | |
| $ 455,571 | |||
| Industrial Equipment — 0.2% | |||
| Alstom SA, 5.868% to 5/29/29(14)(16)(17) | EUR | 200 | $ 249,378 |
| Madison IAQ LLC, 5.875%, 6/30/29(1) | 1,286 | 1,279,216 | |
| TK Elevator Midco GmbH, 4.375%, 7/15/27(14) | EUR | 525 | 620,783 |
| $ 2,149,377 | |||
| Insurance — 1.2% | |||
| Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer: | |||
| 6.50%, 10/1/31(1) | 370 | $ 381,817 | |
| 6.75%, 10/15/27(1) | 2,323 | 2,347,459 | |
| 7.00%, 1/15/31(1) | 808 | 838,838 | |
| 7.375%, 10/1/32(1) | 285 | 295,864 | |
| AmWINS Group, Inc., 4.875%, 6/30/29(1) | 2,340 | 2,303,133 | |
| Asurion LLC & Asurion Co-Issuer, Inc., 8.00%, 12/31/32(1) | 2,800 | 2,906,754 | |
| Galaxy Bidco Ltd., 8.125%, 12/19/29(14) | GBP | 180 | 255,717 |
| Panther Escrow Issuer LLC, 7.125%, 6/1/31(1) | 3,202 | 3,320,083 | |
| Ryan Specialty LLC, 5.875%, 8/1/32(1) | 1,398 | 1,429,326 | |
| $ 14,078,991 | |||
| Internet Software & Services — 0.9% | |||
| Arches Buyer, Inc.: | |||
| 4.25%, 6/1/28(1) | 655 | $ 643,343 | |
| 6.125%, 12/1/28(1) | 1,854 | 1,810,016 | |
| Cars.com, Inc., 6.375%, 11/1/28(1) | 1,770 | 1,773,561 | |
| Match Group Holdings II LLC, 3.625%, 10/1/31(1) | 1,727 | 1,592,642 | |
| Science Applications International Corp.: | |||
| 4.875%, 4/1/28(1) | 1,487 | 1,484,586 | |
| 5.875%, 11/1/33(1) | 1,055 | 1,070,239 | |
| Snap, Inc., 6.875%, 3/1/33(1) | 1,965 | 2,037,774 | |
| United Group BV: | |||
| 6.314%, (3 mo. EURIBOR + 4.25%), 2/15/31(2)(14) | EUR | 100 | 118,556 |
| 6.50%, 10/31/31(1) | EUR | 245 | 295,048 |
| 6.75%, 2/15/31(14) | EUR | 120 | 145,514 |
| $ 10,971,279 | |||
| Security | Principal Amount* (000's omitted) | Value | |
| Leisure Goods/Activities/Movies — 0.7% | |||
| Acushnet Co., 5.625%, 12/1/33(1) | 795 | $ 805,920 | |
| Carnival Corp.: | |||
| 5.75%, 1/15/30(14) | EUR | 100 | 126,279 |
| 5.75%, 8/1/32(1) | 1,190 | 1,222,762 | |
| Cinemark USA, Inc., 5.25%, 7/15/28(1) | 1,481 | 1,481,858 | |
| NCL Corp. Ltd.: | |||
| 6.75%, 2/1/32(1) | 1,425 | 1,459,966 | |
| 7.75%, 2/15/29(1) | 433 | 461,200 | |
| NCL Finance Ltd., 6.125%, 3/15/28(1) | 704 | 726,293 | |
| TUI AG, 5.875%, 3/15/29(14) | EUR | 600 | 730,619 |
| Viking Cruises Ltd., 7.00%, 2/15/29(1) | 658 | 664,165 | |
| Viking Ocean Cruises Ship VII Ltd., 5.625%, 2/15/29(1) | 422 | 424,107 | |
| $ 8,103,169 | |||
| Lodging and Casinos — 0.2% | |||
| Essendi SA: | |||
| 5.50%, 11/15/31(14) | EUR | 254 | $ 306,965 |
| 5.625%, 5/15/32(1) | EUR | 130 | 157,113 |
| 6.375%, 10/15/29(14) | EUR | 165 | 203,955 |
| Genting New York LLC/GENNY Capital, Inc., 7.25%, 10/1/29(1) | 2,098 | 2,152,955 | |
| $ 2,820,988 | |||
| Machinery — 0.3% | |||
| Chart Industries, Inc., 9.50%, 1/1/31(1) | 1,984 | $ 2,107,284 | |
| Dynamo Newco II GmbH, 6.25%, 10/15/31(1) | EUR | 235 | 282,000 |
| Esab Corp., 6.25%, 4/15/29(1) | 1,083 | 1,114,913 | |
| IMA Industria Macchine Automatiche SpA, 5.776%, (3 mo. EURIBOR + 3.75%), 4/15/29(2)(14) | EUR | 150 | 178,840 |
| King U.S. Bidco, Inc., 5.24%, 12/1/32(1)(2) | EUR | 440 | 522,370 |
| $ 4,205,407 | |||
| Media — 0.9% | |||
| CSC Holdings LLC: | |||
| 3.375%, 2/15/31(1) | 1,080 | $ 654,905 | |
| 4.125%, 12/1/30(1) | 701 | 430,476 | |
| 11.75%, 1/31/29(1) | 1,051 | 781,495 | |
| Discovery Communications LLC: | |||
| 3.625%, 5/15/30 | 414 | 381,659 | |
| 4.125%, 5/15/29 | 257 | 248,565 | |
| Outfront Media Capital LLC/Outfront Media Capital Corp.: | |||
| 4.25%, 1/15/29(1) | 610 | 596,615 | |
| 4.625%, 3/15/30(1) | 925 | 905,305 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Media (continued) | |||
| Outfront Media Capital LLC/Outfront Media Capital Corp.: (continued) | |||
| 7.375%, 2/15/31(1) | 1,475 | $ 1,562,136 | |
| Sinclair Television Group, Inc., 8.125%, 2/15/33(1) | 1,337 | 1,397,325 | |
| Summer BidCo BV, 10.00%, (10.00% cash or 10.75% PIK), 2/15/29(14)(15) | EUR | 454 | 541,190 |
| Univision Communications, Inc.: | |||
| 8.50%, 7/31/31(1) | 282 | 294,818 | |
| 9.375%, 8/1/32(1) | 1,076 | 1,157,268 | |
| Versant Media Group, Inc., 7.25%, 1/30/31(1) | 1,080 | 1,114,835 | |
| VZ Secured Financing BV, 5.00%, 1/15/32(1) | 546 | 494,530 | |
| $ 10,561,122 | |||
| Metals/Mining — 1.2% | |||
| Arsenal AIC Parent LLC, 11.50%, 10/1/31(1) | 2,090 | $ 2,302,768 | |
| Compass Minerals International, Inc.: | |||
| 6.75%, 12/1/27(1) | 490 | 492,013 | |
| 8.00%, 7/1/30(1) | 1,514 | 1,585,509 | |
| Constellium SE: | |||
| 3.75%, 4/15/29(1) | 1,970 | 1,903,863 | |
| 5.625%, 6/15/28(1) | 630 | 630,366 | |
| First Quantum Minerals Ltd.: | |||
| 7.25%, 2/15/34(1) | 545 | 573,400 | |
| 8.00%, 3/1/33(1) | 730 | 780,514 | |
| 9.375%, 3/1/29(1) | 1,642 | 1,731,101 | |
| Hudbay Minerals, Inc.: | |||
| 4.50%, 4/1/26(1) | 1,085 | 1,089,486 | |
| 6.125%, 4/1/29(1) | 489 | 497,414 | |
| Novelis Corp.: | |||
| 3.875%, 8/15/31(1) | 1,169 | 1,066,482 | |
| 4.75%, 1/30/30(1) | 257 | 248,441 | |
| Roller Bearing Co. of America, Inc., 4.375%, 10/15/29(1) | 1,513 | 1,490,532 | |
| $ 14,391,889 | |||
| Miscellaneous Manufacturing — 0.1% | |||
| Axon Enterprise, Inc.: | |||
| 6.125%, 3/15/30(1) | 535 | $ 553,641 | |
| 6.25%, 3/15/33(1) | 410 | 428,242 | |
| $ 981,883 | |||
| Nonferrous Metals/Minerals — 0.1% | |||
| Eldorado Gold Corp., 6.25%, 9/1/29(1) | 1,333 | $ 1,348,957 | |
| $ 1,348,957 | |||
| Security | Principal Amount* (000's omitted) | Value | |
| Oil and Gas — 2.0% | |||
| Aethon United BR LP/Aethon United Finance Corp., 7.50%, 10/1/29(1) | 1,475 | $ 1,546,074 | |
| Civitas Resources, Inc., 8.625%, 11/1/30(1) | 2,273 | 2,383,638 | |
| DBR Land Holdings LLC, 6.25%, 12/1/30(1) | 1,175 | 1,202,612 | |
| Kodiak Gas Services LLC: | |||
| 6.50%, 10/1/33(1) | 959 | 979,842 | |
| 6.75%, 10/1/35(1) | 400 | 411,472 | |
| Matador Resources Co., 6.50%, 4/15/32(1) | 1,400 | 1,420,741 | |
| Permian Resources Operating LLC: | |||
| 5.875%, 7/1/29(1) | 1,376 | 1,388,592 | |
| 6.25%, 2/1/33(1) | 935 | 959,554 | |
| 7.00%, 1/15/32(1) | 1,214 | 1,269,846 | |
| Petroleos de Venezuela SA: | |||
| 5.375%, 4/12/27(14)(18) | 773 | 181,315 | |
| 6.00%, 10/28/22(14)(18) | 606 | 124,284 | |
| 6.00%, 5/16/24(14)(18) | 575 | 134,924 | |
| 6.00%, 11/15/26(14)(18) | 300 | 72,054 | |
| 8.50%, 10/20/27 | 487 | 545,440 | |
| 9.00%, 11/17/21(14)(18) | 387 | 99,184 | |
| 9.75%, 5/17/35(14)(18) | 644 | 167,336 | |
| 12.75%, 2/17/22(14)(18) | 415 | 118,389 | |
| Petroleos Mexicanos: | |||
| 6.75%, 9/21/47 | 600 | 493,721 | |
| 6.84%, 1/23/30 | 1,000 | 1,016,127 | |
| Petronas Capital Ltd.: | |||
| 2.48%, 1/28/32(14) | 400 | 359,284 | |
| 4.55%, 4/21/50(14) | 310 | 273,371 | |
| 5.34%, 4/3/35(14) | 400 | 416,135 | |
| Precision Drilling Corp., 6.875%, 1/15/29(1) | 932 | 943,168 | |
| SM Energy Co., 7.00%, 8/1/32(1) | 1,070 | 1,052,558 | |
| Transocean International Ltd.: | |||
| 7.875%, 10/15/32(1) | 245 | 257,038 | |
| 8.25%, 5/15/29(1) | 1,249 | 1,259,653 | |
| 8.75%, 2/15/30(1) | 530 | 554,317 | |
| Vital Energy, Inc.: | |||
| 7.875%, 4/15/32(1) | 409 | 403,259 | |
| 9.75%, 10/15/30 | 477 | 502,252 | |
| WBI Operating LLC: | |||
| 6.25%, 10/15/30(1) | 1,430 | 1,439,595 | |
| 6.50%, 10/15/33(1) | 1,240 | 1,235,967 | |
| Weatherford International Ltd., 6.75%, 10/15/33(1) | 825 | 845,330 | |
| $ 24,057,072 | |||
| Security | Principal Amount* (000's omitted) | Value | |
| Packaging & Containers — 0.7% | |||
| Ardagh Group SA, 9.50%, 12/1/30(1) | 1,755 | $ 1,905,145 | |
| Clydesdale Acquisition Holdings, Inc.: | |||
| 6.75%, 4/15/32(1) | 1,732 | 1,782,132 | |
| 8.75%, 4/15/30(1) | 2,152 | 2,189,453 | |
| Toucan FinCo Ltd./Toucan FinCo Can, Inc./Toucan FinCo U.S. LLC: | |||
| 8.25%, 5/15/30(1) | EUR | 330 | 375,023 |
| 9.50%, 5/15/30(1) | 1,785 | 1,784,173 | |
| $ 8,035,926 | |||
| Pharmaceuticals — 1.4% | |||
| 1261229 BC Ltd., 10.00%, 4/15/32(1) | 4,674 | $ 4,864,544 | |
| Amneal Pharmaceuticals LLC, 6.875%, 8/1/32(1) | 742 | 784,710 | |
| Bayer AG, 5.375% to 6/25/30, 3/25/82(14)(16) | EUR | 500 | 604,499 |
| BellRing Brands, Inc., 7.00%, 3/15/30(1) | 2,444 | 2,528,688 | |
| Endo Finance Holdings, Inc., 8.50%, 4/15/31(1) | 1,400 | 1,481,467 | |
| Grifols SA, 7.50%, 5/1/30(14) | EUR | 689 | 852,747 |
| Nidda Healthcare Holding GmbH, 5.276% (3 mo. EURIBOR + 3.25%), 10/15/32(1)(2) | EUR | 100 | 118,771 |
| P&L Development LLC/PLD Finance Corp., 12.00%, (12.00% cash or 9.00% cash and 3.50% PIK), 5/15/29(1)(15) | 925 | 944,321 | |
| Rossini SARL, 6.75%, 12/31/29(14) | EUR | 310 | 383,771 |
| Teva Pharmaceutical Finance Netherlands II BV, 4.375%, 5/9/30 | EUR | 592 | 716,659 |
| Teva Pharmaceutical Finance Netherlands III BV: | |||
| 4.10%, 10/1/46 | 3,621 | 2,743,069 | |
| 6.00%, 12/1/32 | 1,125 | 1,181,552 | |
| $ 17,204,798 | |||
| Pipelines — 1.0% | |||
| Energy Transfer LP, 5.00%, 5/15/50 | 1,094 | $ 916,284 | |
| Global Partners LP/GLP Finance Corp.: | |||
| 7.125%, 7/1/33(1) | 700 | 715,504 | |
| 8.25%, 1/15/32(1) | 1,317 | 1,392,472 | |
| Kinetik Holdings LP, 5.875%, 6/15/30(1) | 2,308 | 2,330,087 | |
| NGL Energy Operating LLC/NGL Energy Finance Corp.: | |||
| 8.125%, 2/15/29(1) | 574 | 596,150 | |
| 8.375%, 2/15/32(1) | 910 | 942,960 | |
| Plains All American Pipeline LP, Series B, 8.223% to 1/30/26, (3 mo. SOFR + 4.372%)(2)(17) | 1,912 | 1,918,897 | |
| Venture Global LNG, Inc.: | |||
| 8.375%, 6/1/31(1) | 877 | 872,620 | |
| 9.00% to 9/30/29(1)(16)(17) | 641 | 506,685 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Pipelines (continued) | |||
| Venture Global LNG, Inc.: (continued) | |||
| 9.50%, 2/1/29(1) | 1,623 | $ 1,683,216 | |
| 9.875%, 2/1/32(1) | 355 | 366,963 | |
| $ 12,241,838 | |||
| Publishing — 0.3% | |||
| McGraw-Hill Education, Inc.: | |||
| 5.75%, 8/1/28(1) | 423 | $ 425,463 | |
| 7.375%, 9/1/31(1) | 1,235 | 1,303,940 | |
| 8.00%, 8/1/29(1) | 1,879 | 1,900,158 | |
| $ 3,629,561 | |||
| Radio and Television — 0.2% | |||
| Clear Channel Outdoor Holdings, Inc.: | |||
| 7.125%, 2/15/31(1) | 609 | $ 639,869 | |
| 7.50%, 3/15/33(1) | 254 | 268,509 | |
| 7.75%, 4/15/28(1) | 1,316 | 1,317,939 | |
| 7.875%, 4/1/30(1) | 292 | 308,760 | |
| $ 2,535,077 | |||
| Real Estate Investment Trusts (REITs) — 0.6% | |||
| Adler Financing SARL, 8.25% PIK, 12/31/28 | EUR | 481 | $ 621,003 |
| Akelius Residential Property AB, 2.249% to 2/17/26, 5/17/81(14)(16) | EUR | 200 | 232,911 |
| Alexandrite Lake Lux Holdings SARL: | |||
| 6.75%, 7/30/30(1) | EUR | 200 | 239,270 |
| 6.75%, 7/30/30(14) | EUR | 120 | 143,562 |
| Alexandrite Monnet U.K. Holdco PLC, 10.50%, 5/15/29(14) | EUR | 700 | 889,801 |
| Alstria Office AG, 5.50%, 3/20/31(14) | EUR | 300 | 361,587 |
| Cushman & Wakefield U.S. Borrower LLC: | |||
| 6.75%, 5/15/28(1) | 1,272 | 1,279,561 | |
| 8.875%, 9/1/31(1) | 907 | 971,088 | |
| Greystar Real Estate Partners LLC, 7.75%, 9/1/30(1) | 2,048 | 2,160,241 | |
| Heimstaden Bostad AB, 3.375% to 1/30/26(14)(16)(17) | EUR | 250 | 294,258 |
| Iron Mountain, Inc., 4.75%, 1/15/34(14) | EUR | 220 | 252,051 |
| Samhallsbyggnadsbolaget I Norden Holding AB, 2.375%, 8/4/26(14) | EUR | 150 | 174,330 |
| $ 7,619,663 | |||
| Security | Principal Amount* (000's omitted) | Value | |
| Retail — 1.6% | |||
| B&M European Value Retail SA: | |||
| 4.00%, 11/15/28(14) | GBP | 100 | $ 129,908 |
| 8.125%, 11/15/30(14) | GBP | 200 | 282,209 |
| Boots Group Finco LP: | |||
| 5.375%, 8/31/32(14) | EUR | 100 | 121,640 |
| 7.375%, 8/31/32(14) | GBP | 275 | 384,319 |
| CD&R Firefly Bidco PLC, 8.625%, 4/30/29(14) | GBP | 750 | 1,061,656 |
| Cougar JV Subsidiary LLC, 8.00%, 5/15/32(1) | 2,337 | 2,507,159 | |
| Dufry One BV, 2.00%, 2/15/27(14) | EUR | 200 | 233,512 |
| eG Global Finance PLC, 11.00%, 11/30/28(14) | EUR | 320 | 408,330 |
| Eroski S Coop, 5.75%, 5/15/31(14) | EUR | 100 | 122,025 |
| Ferrellgas LP/Ferrellgas Finance Corp.: | |||
| 5.875%, 4/1/29(1) | 1,151 | 1,106,950 | |
| 9.25%, 1/15/31(1) | 655 | 675,094 | |
| Global Auto Holdings Ltd./AAG FH U.K. Ltd.: | |||
| 8.375%, 1/15/29(1) | 442 | 435,624 | |
| 8.75%, 1/15/32(1) | 506 | 486,260 | |
| Group 1 Automotive, Inc.: | |||
| 4.00%, 8/15/28(1) | 1,328 | 1,302,590 | |
| 6.375%, 1/15/30(1) | 455 | 469,045 | |
| Ken Garff Automotive LLC, 4.875%, 9/15/28(1) | 957 | 954,833 | |
| LCM Investments Holdings II LLC: | |||
| 4.875%, 5/1/29(1) | 1,652 | 1,628,750 | |
| 8.25%, 8/1/31(1) | 262 | 277,274 | |
| Park River Holdings, Inc.: | |||
| 8.00%, 3/15/31(1) | 1,707 | 1,767,360 | |
| 8.75%, 12/31/30(1) | 291 | 287,726 | |
| PetSmart LLC/PetSmart Finance Corp.: | |||
| 7.50%, 9/15/32(1) | 1,600 | 1,630,223 | |
| 10.00%, 9/15/33(1) | 540 | 556,787 | |
| Punch Finance PLC, 7.875%, 12/30/30(14) | GBP | 110 | 151,166 |
| Suburban Propane Partners LP/Suburban Energy Finance Corp., 5.00%, 6/1/31(1) | 824 | 792,987 | |
| Waga Bondco Ltd., 8.50%, 6/15/30(14) | GBP | 200 | 247,927 |
| White Cap Supply Holdings LLC, 7.375%, 11/15/30(1) | 1,555 | 1,614,500 | |
| $ 19,635,854 | |||
| Retailers (Except Food and Drug) — 0.2% | |||
| Bath & Body Works, Inc.: | |||
| 6.625%, 10/1/30(1) | 479 | $ 490,202 | |
| 6.75%, 7/1/36 | 437 | 434,290 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Retailers (Except Food and Drug) (continued) | |||
| Murphy Oil USA, Inc., 5.625%, 5/1/27 | 560 | $ 561,004 | |
| Superior Plus LP/Superior General Partner, Inc., 4.50%, 3/15/29(1) | 1,532 | 1,496,424 | |
| $ 2,981,920 | |||
| Semiconductors & Semiconductor Equipment — 0.1% | |||
| ON Semiconductor Corp., 3.875%, 9/1/28(1) | 1,544 | $ 1,516,334 | |
| $ 1,516,334 | |||
| Software — 0.5% | |||
| Clarivate Science Holdings Corp., 4.875%, 7/1/29(1) | 1,260 | $ 1,192,484 | |
| Cloud Software Group, Inc.: | |||
| 6.50%, 3/31/29(1) | 1,268 | 1,285,433 | |
| 9.00%, 9/30/29(1) | 2,620 | 2,730,565 | |
| TeamSystem SpA: | |||
| 5.00%, 7/1/31(1) | EUR | 300 | 356,465 |
| 5.526%, (3 mo. EURIBOR + 3.50%), 7/31/31(1)(2) | EUR | 170 | 201,751 |
| 5.526%, (3 mo. EURIBOR + 3.50%), 7/31/31(2)(14) | EUR | 100 | 118,677 |
| $ 5,885,375 | |||
| Software and Services — 0.1% | |||
| Fair Isaac Corp., 4.00%, 6/15/28(1) | 1,248 | $ 1,235,503 | |
| $ 1,235,503 | |||
| Specialty Retail — 0.0%† | |||
| Fiber Midco SpA: | |||
| 10.75% PIK, 6/15/29(1) | EUR | 155 | $ 141,140 |
| 10.00% PIK, 6/15/29(14) | EUR | 190 | 173,011 |
| $ 314,151 | |||
| Steel — 0.7% | |||
| ATI, Inc., 5.875%, 12/1/27 | 320 | $ 321,620 | |
| Big River Steel LLC/BRS Finance Corp., 6.625%, 1/31/29(1) | 1,147 | 1,157,597 | |
| Cleveland-Cliffs, Inc.: | |||
| 7.375%, 5/1/33(1) | 1,325 | 1,379,196 | |
| 7.50%, 9/15/31(1) | 1,610 | 1,699,613 | |
| 7.625%, 1/15/34(1) | 775 | 810,484 | |
| Commercial Metals Co.: | |||
| 5.75%, 11/15/33(1) | 745 | 762,218 | |
| 6.00%, 12/15/35(1) | 745 | 764,173 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Steel (continued) | |||
| TMS International Corp., 6.25%, 4/15/29(1) | 1,365 | $ 1,324,544 | |
| $ 8,219,445 | |||
| Technology — 0.3% | |||
| Brightstar Lottery PLC, 5.25%, 1/15/29(1) | 3,110 | $ 3,113,885 | |
| $ 3,113,885 | |||
| Telecommunications — 1.9% | |||
| British Telecommunications PLC, 6.375% to 9/3/30, 12/3/55(14)(16) | GBP | 560 | $ 773,134 |
| Ciena Corp., 4.00%, 1/31/30(1) | 1,079 | 1,041,546 | |
| Cipher Compute LLC, 7.125%, 11/15/30(1) | 765 | 780,096 | |
| EchoStar Corp., 10.75%, 11/30/29 | 1,790 | 1,980,780 | |
| Fibercop SpA: | |||
| 5.125%, 6/30/32(14) | EUR | 430 | 514,993 |
| 7.20%, 7/18/36(1) | 235 | 234,471 | |
| Iliad Holding SAS: | |||
| 6.875%, 4/15/31(14) | EUR | 200 | 251,551 |
| 7.00%, 4/15/32(1) | 915 | 944,191 | |
| 8.50%, 4/15/31(1) | 720 | 775,367 | |
| Level 3 Financing, Inc., 7.00%, 3/31/34(1) | 491 | 506,231 | |
| Lorca Telecom Bondco SA, 4.00%, 9/18/27(14) | EUR | 96 | 112,620 |
| Maticmind SpA, 7.299%, 12/31/32(2)(14) | EUR | 265 | 310,610 |
| Matterhorn Telecom SA, 3.875%, 10/15/30(14) | EUR | 270 | 317,005 |
| Odido Group Holding BV, 5.50%, 1/15/30(14) | EUR | 245 | 290,194 |
| Sable International Finance Ltd., 7.125%, 10/15/32(1) | 822 | 833,764 | |
| Stagwell Global LLC, 5.625%, 8/15/29(1) | 1,516 | 1,479,484 | |
| Telefonica Europe BV: | |||
| 2.88% to 2/24/28(14)(16)(17) | EUR | 200 | 230,496 |
| 7.125% to 8/23/28(14)(16)(17) | EUR | 400 | 509,649 |
| Vmed O2 U.K. Financing I PLC: | |||
| 4.00%, 1/31/29(14) | GBP | 100 | 128,160 |
| 4.50%, 7/15/31(14) | GBP | 100 | 120,096 |
| 4.75%, 7/15/31(1) | 1,830 | 1,690,917 | |
| 5.625%, 4/15/32(14) | EUR | 325 | 385,269 |
| 6.75%, 1/15/33(1) | 920 | 912,902 | |
| 7.75%, 4/15/32(1) | 645 | 672,961 | |
| Vodafone Group PLC, 8.00% to 5/30/31, 8/30/86(14)(16) | GBP | 200 | 294,802 |
| Windstream Services LLC, 7.50%, 10/15/33(1) | 2,842 | 2,915,772 | |
| Windstream Services LLC/Windstream Escrow Finance Corp., 8.25%, 10/1/31(1) | 222 | 233,258 | |
| WULF Compute LLC, 7.75%, 10/15/30(1) | 1,042 | 1,074,311 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Telecommunications (continued) | |||
| Zegona Finance PLC: | |||
| 6.75%, 7/15/29(14) | EUR | 305 | $ 378,014 |
| 8.625%, 7/15/29(1) | 2,674 | 2,844,393 | |
| $ 23,537,037 | |||
| Transportation — 0.5% | |||
| Edge Finco PLC, 8.125%, 8/15/31(14) | GBP | 550 | $ 790,636 |
| Mobico Group PLC, 3.625%, 11/20/28(14) | GBP | 100 | 122,041 |
| Seaspan Corp., 5.50%, 8/1/29(1) | 1,911 | 1,816,487 | |
| Stonepeak Nile Parent LLC, 7.25%, 3/15/32(1) | 697 | 738,462 | |
| Watco Cos. LLC/Watco Finance Corp., 7.125%, 8/1/32(1) | 2,505 | 2,624,907 | |
| $ 6,092,533 | |||
| Utilities — 1.7% | |||
| Calpine Corp.: | |||
| 4.50%, 2/15/28(1) | 1,073 | $ 1,074,215 | |
| 4.625%, 2/1/29(1) | 680 | 680,082 | |
| 5.00%, 2/1/31(1) | 910 | 928,071 | |
| 5.125%, 3/15/28(1) | 1,511 | 1,513,404 | |
| Leeward Renewable Energy Operations LLC, 4.25%, 7/1/29(1) | 838 | 801,574 | |
| NRG Energy, Inc.: | |||
| 3.625%, 2/15/31(1) | 1,107 | 1,035,103 | |
| 3.875%, 2/15/32(1) | 1,466 | 1,376,691 | |
| 5.25%, 6/15/29(1) | 673 | 677,407 | |
| 5.75%, 1/15/34(1) | 1,602 | 1,619,133 | |
| 6.00%, 2/1/33(1) | 1,190 | 1,215,923 | |
| 6.00%, 1/15/36(1) | 1,100 | 1,115,145 | |
| 6.25%, 11/1/34(1) | 795 | 817,224 | |
| 10.25% to 3/15/28(1)(16)(17) | 1,753 | 1,915,803 | |
| TerraForm Power Operating LLC, 5.00%, 1/31/28(1) | 1,497 | 1,496,427 | |
| Vistra Operations Co. LLC: | |||
| 4.375%, 5/1/29(1) | 939 | 927,675 | |
| 5.00%, 7/31/27(1) | 1,698 | 1,707,934 | |
| 6.875%, 4/15/32(1) | 1,405 | 1,480,716 | |
| $ 20,382,527 | |||
| Total Corporate Bonds (identified cost $596,834,896) | $ 606,446,413 | ||
| Government National Mortgage Association Participation Agreements — 0.4% |
| Security | Principal Amount (000's omitted) | Value | |
| Government National Mortgage Association Participation Agreements, 8.02%, 9/10/27(19) | $ | 4,472 | $ 4,468,604 |
| Total Government National Mortgage Association Participation Agreements (identified cost $4,472,312) | $ 4,468,604 | ||
| Preferred Stocks — 0.1% |
| Security | Shares | Value | |
| Beverages — 0.0%† | |||
| Citybrewing Topco LLC(8)(11)(12) | 66,096 | $ 356,257 | |
| $ 356,257 | |||
| Technology — 0.1% | |||
| Cohesity Global, Inc.: | |||
| Series G(11) | 10,002 | $ 242,549 | |
| Series G1(11) | 6,910 | 165,840 | |
| $ 408,389 | |||
| Total Preferred Stocks (identified cost $930,706) | $ 764,646 | ||
| Senior Floating-Rate Loans — 40.5%(20) |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Aerospace and Defense — 0.8% | |||
| Aernnova Aerospace SAU, Term Loan, 6.026%, (3 mo. EURIBOR + 4.00%), 2/27/30 | EUR | 1,000 | $ 1,165,334 |
| Air Comm Corp. LLC: | |||
| Term Loan, 6.44% - 6.572%, (3 mo. USD Term SOFR + 2.75%), 12/11/31 | 1,444 | 1,450,959 | |
| Term Loan, 12/11/31(21) | 70 | 70,732 | |
| HDI Aerospace Intermediate Holding III Corp., Term Loan, 7.687%, (3 mo. USD Term SOFR + 3.75%), 2/11/32 | 645 | 649,963 | |
| IAP Worldwide Services, Inc., Term Loan - Second Lien, 0.00%, 7/18/23(8)(18) | 216 | 130,250 | |
| Novaria Holdings LLC, Term Loan, 6.966%, (1 mo. USD Term SOFR + 3.25%), 6/6/31 | 198 | 197,922 | |
| TransDigm, Inc.: | |||
| Term Loan, 5.966%, (1 mo. USD Term SOFR + 2.25%), 3/22/30 | 1,307 | 1,311,774 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Aerospace and Defense (continued) | |||
| TransDigm, Inc.: (continued) | |||
| Term Loan, 6.216%, (1 mo. USD Term SOFR + 2.50%), 2/28/31 | 4,507 | $ 4,529,071 | |
| Vista Management Holding, Inc., Term Loan, 7.735%, (3 mo. USD Term SOFR + 3.75%), 4/1/31 | 594 | 600,558 | |
| $ 10,106,563 | |||
| Air Freight & Logistics — 0.1% | |||
| AIT Worldwide Logistics, Inc., Term Loan, 7.887%, (3 mo. USD Term SOFR + 4.00%), 4/8/30 | 644 | $ 648,326 | |
| Edge Finco PLC, Term Loan, 5.547%, (3 mo. EURIBOR + 3.50%), 8/22/31 | EUR | 500 | 593,796 |
| $ 1,242,122 | |||
| Apparel & Luxury Goods — 0.2% | |||
| Gloves Buyer, Inc., Term Loan, 7.716%, (1 mo. USD Term SOFR + 4.00%), 5/21/32 | 2,125 | $ 2,118,359 | |
| $ 2,118,359 | |||
| Auto Components — 0.6% | |||
| Adient U.S. LLC, Term Loan, 5.966%, (1 mo. USD Term SOFR + 2.25%), 1/31/31 | 546 | $ 548,735 | |
| Autokiniton U.S. Holdings, Inc., Term Loan, 7.831%, (1 mo. USD Term SOFR + 4.00%), 4/6/28 | 502 | 498,231 | |
| Clarios Global LP: | |||
| Term Loan, 4.939%, (1 mo. EURIBOR + 3.00%), 7/16/31 | EUR | 913 | 1,085,080 |
| Term Loan, 6.216%, (1 mo. USD Term SOFR + 2.50%), 5/6/30 | 2,577 | 2,583,929 | |
| DexKo Global, Inc.: | |||
| Term Loan, 5.901%, (1 mo. EURIBOR + 4.00%), 10/4/28 | EUR | 316 | 367,613 |
| Term Loan, 5.901%, (1 mo. EURIBOR + 4.00%), 10/4/28 | EUR | 534 | 621,672 |
| Term Loan, 7.581%, (1 mo. USD Term SOFR + 3.75%), 10/4/28 | 794 | 789,842 | |
| Garrett LX I SARL, Term Loan, 5.84%, (3 mo. USD Term SOFR + 2.00%), 1/30/32 | 579 | 581,239 | |
| Lippert Colipper, Term Loan, 5.966%, (1 mo. USD Term SOFR + 2.25%), 3/25/32 | 347 | 350,419 | |
| RealTruck Group, Inc., Term Loan, 8.831%, (1 mo. USD Term SOFR + 5.00%), 1/31/28 | 663 | 519,276 | |
| $ 7,946,036 | |||
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Automobiles — 0.1% | |||
| MajorDrive Holdings IV LLC, Term Loan, 9.322%, (3 mo. USD Term SOFR + 5.50%), 6/1/29 | 725 | $ 665,955 | |
| $ 665,955 | |||
| Beverages — 0.1% | |||
| City Brewing Co. LLC, Term Loan, 10.822%, (3 mo. USD Term SOFR + 7.00%), 9/30/30 | 124 | $ 50,943 | |
| Sazerac Co., Inc., Term Loan, 6.50%, (1 mo. USD Term SOFR + 2.50%), 7/9/32 | 973 | 975,670 | |
| $ 1,026,613 | |||
| Biotechnology — 0.1% | |||
| Alltech, Inc., Term Loan, 8.081%, (1 mo. USD Term SOFR + 4.25%), 8/13/30 | 977 | $ 985,161 | |
| $ 985,161 | |||
| Broadline Retail — 0.3% | |||
| Peer Holding III BV: | |||
| Term Loan, 4.776%, (3 mo. EURIBOR + 2.75%), 11/26/31 | EUR | 1,500 | $ 1,777,211 |
| Term Loan, 6.172%, (3 mo. USD Term SOFR + 2.50%), 10/28/30 | 1,081 | 1,086,943 | |
| Term Loan, 6.172%, (3 mo. USD Term SOFR + 2.50%), 7/1/31 | 1,411 | 1,418,537 | |
| $ 4,282,691 | |||
| Building Products — 0.4% | |||
| LBM Acquisition LLC: | |||
| Term Loan, 7.584%, (1 mo. USD Term SOFR + 3.75%), 6/6/31 | 448 | $ 421,188 | |
| Term Loan, 8.734%, (1 mo. USD Term SOFR + 5.00%), 6/6/31 | 424 | 424,442 | |
| MI Windows & Doors LLC, Term Loan, 6.466%, (1 mo. USD Term SOFR + 2.75%), 3/28/31 | 1,256 | 1,258,689 | |
| Oscar AcquisitionCo LLC, Term Loan, 7.922%, (3 mo. USD Term SOFR + 4.25%), 4/29/29 | 871 | 629,426 | |
| Sport Group Holding GmbH, Term Loan, 6.026%, (3 mo. EURIBOR + 4.00%), 7/8/31 | EUR | 1,000 | 1,096,856 |
| Tarkett Participation, Term Loan, 5.769%, (3 mo. EURIBOR + 3.75%), 4/22/31 | EUR | 1,000 | 1,190,942 |
| $ 5,021,543 | |||
| Capital Markets — 1.3% | |||
| Advisor Group, Inc., Term Loan, 6.595%, (6 mo. USD Term SOFR + 3.00%), 7/30/32 | 1,059 | $ 1,065,081 | |
| Aretec Group, Inc., Term Loan, 6.716%, (1 mo. USD Term SOFR + 3.00%), 8/9/30 | 785 | 789,363 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Capital Markets (continued) | |||
| Athena Holdco SAS, Term Loan, 5.019%, (3 mo. EURIBOR + 3.00%), 4/14/31 | EUR | 1,000 | $ 1,185,818 |
| Citco Funding LLC, Term Loan, 6.511%, (1 mo. USD Term SOFR + 2.75%), 4/27/28 | 758 | 763,532 | |
| EIG Management Co. LLC, Term Loan, 8.716%, (1 mo. USD Term SOFR + 5.00%), 5/17/29 | 371 | 370,616 | |
| FinCo I LLC, Term Loan, 5.466%, (1 mo. USD Term SOFR + 1.75%), 6/27/29 | 1,201 | 1,203,878 | |
| Focus Financial Partners LLC, Term Loan, 6.216%, (1 mo. USD Term SOFR + 2.50%), 9/15/31 | 4,249 | 4,261,054 | |
| Franklin Square Holdings LP, Term Loan, 5.966%, (1 mo. USD Term SOFR + 2.25%), 4/25/31 | 1,010 | 984,384 | |
| HighTower Holdings LLC, Term Loan, 6.651%, (3 mo. USD Term SOFR + 2.75%), 2/3/32 | 1,001 | 1,004,548 | |
| Kestra Advisor Services Holdings A, Inc., Term Loan, 6.716%, (1 mo. USD Term SOFR + 3.00%), 3/22/31 | 841 | 843,514 | |
| Mariner Wealth Advisors LLC , Term Loan, 5.936%, (3 mo. USD Term SOFR + 2.25%), 12/31/30 | 968 | 974,728 | |
| Orion Advisor Solutions, Inc., Term Loan, 7.11%, (3 mo. USD Term SOFR + 3.25%), 9/24/30 | 617 | 622,031 | |
| Orion U.S. Finco, Inc., Term Loan, 7.427%, (3 mo. USD Term SOFR + 3.50%), 10/8/32 | 725 | 729,249 | |
| Saphilux SARL, Term Loan, 5.617%, (6 mo. EURIBOR + 3.50%), 7/18/28 | EUR | 500 | 596,743 |
| Victory Capital Holdings, Inc., Term Loan, 5.672%, (3 mo. USD Term SOFR + 2.00%), 9/23/32 | 1,022 | 1,029,620 | |
| $ 16,424,159 | |||
| Chemicals — 1.5% | |||
| AAP Buyer, Inc., Term Loan, 6.466%, (1 mo. USD Term SOFR + 2.75%), 9/9/31 | 470 | $ 472,749 | |
| Aruba Investments Holdings LLC, Term Loan, 5.901%, (1 mo. EURIBOR + 4.00%), 11/24/27 | EUR | 953 | 1,012,573 |
| CP Iris HoldCo I, Inc.: | |||
| Term Loan, 7.716%, (1 mo. USD Term SOFR + 4.00%), 10/27/32 | 823 | 820,264 | |
| Term Loan, 10/27/32(21) | 102 | 101,267 | |
| Discovery Purchaser Corp., Term Loan, 7.607%, (3 mo. USD Term SOFR + 3.75%), 10/4/29 | 693 | 667,897 | |
| INEOS Finance PLC, Term Loan, 5.401%, (1 mo. EURIBOR + 3.50%), 6/23/31 | EUR | 1,194 | 1,164,784 |
| INEOS Quattro Holdings U.K. Ltd., Term Loan, 7.566%, (1 mo. USD Term SOFR + 3.75%), 3/14/30 | 315 | 216,571 | |
| INEOS U.S. Finance LLC: | |||
| Term Loan, 6.316%, (1 mo. USD Term SOFR + 2.50%), 11/8/28 | 602 | 533,511 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Chemicals (continued) | |||
| INEOS U.S. Finance LLC: (continued) | |||
| Term Loan, 6.716%, (1 mo. USD Term SOFR + 3.00%), 2/7/31 | 1,037 | $ 835,335 | |
| Term Loan, 6.966%, (1 mo. USD Term SOFR + 3.25%), 2/18/30 | 1,757 | 1,430,619 | |
| Lonza Group AG: | |||
| Term Loan, 5.944%, (3 mo. EURIBOR + 3.93%), 7/3/28 | EUR | 1,000 | 1,053,032 |
| Term Loan, 7.697%, (3 mo. USD Term SOFR + 3.93%), 7/3/28 | 1,675 | 1,474,065 | |
| Minerals Technologies, Inc., Term Loan, 5.716%, (1 mo. USD Term SOFR + 2.00%), 11/26/31 | 520 | 522,349 | |
| Nobian Finance BV, Term Loan, 5.779%, (3 mo. EURIBOR + 3.75%), 7/2/29 | EUR | 500 | 570,707 |
| Nouryon Finance BV: | |||
| Term Loan, 5.515%, (3 mo. EURIBOR + 3.50%), 4/3/28 | EUR | 750 | 888,561 |
| Term Loan, 7.036%, (6 mo. USD Term SOFR + 3.25%), 4/3/28 | 1,274 | 1,277,055 | |
| Olympus Water U.S. Holding Corp., Term Loan, 6.672%, (3 mo. USD Term SOFR + 3.00%), 6/20/31 | 2,026 | 2,011,268 | |
| Orion Engineered Carbons GmbH, Term Loan, 5.922%, (3 mo. USD Term SOFR + 2.15%), 9/24/28 | 359 | 328,542 | |
| Rohm Holding GmbH, Term Loan, 9.697%, (6 mo. USD Term SOFR + 5.50%), 1/31/29 | 1 | 607 | |
| SCUR-Alpha 1503 GmbH, Term Loan, 9.34%, (3 mo. USD Term SOFR + 5.50%), 3/29/30 | 900 | 840,743 | |
| Tronox Finance LLC: | |||
| Term Loan, 5.922%, (3 mo. USD Term SOFR + 2.25%), 4/4/29 | 470 | 386,788 | |
| Term Loan, 6.172% - 6.216%, (1 mo. USD Term SOFR + 2.50%, 3 mo. USD Term SOFR + 2.50%), 9/30/31 | 1,726 | 1,343,490 | |
| W.R. Grace & Co.-Conn., Term Loan, 6.689%, (3 mo. USD Term SOFR + 3.00%), 8/19/32 | 648 | 650,197 | |
| $ 18,602,974 | |||
| Commercial Services & Supplies — 1.9% | |||
| Albion Financing 3 SARL, Term Loan, 6.868%, (3 mo. USD Term SOFR + 3.00%), 5/21/31 | 1,780 | $ 1,795,240 | |
| Anticimex International AB, Term Loan, 5.219%, (3 mo. EURIBOR + 3.15%), 11/17/31 | EUR | 1,000 | 1,188,603 |
| Befesa SA, Term Loan, 4.316%, (3 mo. EURIBOR + 2.25%), 7/9/29 | EUR | 1,000 | 1,190,331 |
| Belfor Holdings, Inc.: | |||
| Term Loan, 5.401%, (1 mo. EURIBOR + 3.50%), 11/1/30 | EUR | 1,000 | 1,186,952 |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Commercial Services & Supplies (continued) | |||
| Belfor Holdings, Inc.: (continued) | |||
| Term Loan, 6.466%, (1 mo. USD Term SOFR + 2.75%), 11/1/30 | 542 | $ 544,941 | |
| EnergySolutions LLC, Term Loan, 6.966%, (1 mo. USD Term SOFR + 3.25%), 9/20/30 | 3,693 | 3,722,848 | |
| Foundever Group: | |||
| Term Loan, 5.752%, (3 mo. EURIBOR + 3.75%), 8/28/28 | EUR | 500 | 411,320 |
| Term Loan, 7.758%, (3 mo. USD Term SOFR + 3.75%), 8/28/28 | 1,819 | 1,227,994 | |
| Gategroup Fin Luxembourg SA, Term Loan, 7.201%, (3 mo. USD Term SOFR + 3.50%), 6/10/32 | 597 | 601,603 | |
| GFL Environmental, Inc., Term Loan, 6.273%, (3 mo. USD Term SOFR + 2.50%), 3/3/32 | 1,496 | 1,504,479 | |
| Harsco Corp., Term Loan, 6.081%, (1 mo. USD Term SOFR + 2.25%), 6/9/28 | 257 | 257,755 | |
| Heritage-Crystal Clean, Inc., Term Loan, 7.48%, (1 mo. USD Term SOFR + 3.75%), 10/17/30 | 686 | 689,715 | |
| LSF12 Crown U.S. Commercial Bidco LLC, Term Loan, 7.373%, (1 mo. USD Term SOFR + 3.50%), 12/2/31 | 1,992 | 2,006,565 | |
| Monitronics International, Inc., Term Loan, 11.434% - 11.478%, (1 mo. USD Term SOFR + 7.50%, 3 mo. USD Term SOFR + 7.50%), 6/30/28 | 1,160 | 1,161,871 | |
| MV Holding GmbH: | |||
| Term Loan, 4.144%, (1 mo. EURIBOR + 2.25%), 3/17/32 | EUR | 1,500 | 1,779,018 |
| Term Loan, 5.721%, (1 mo. USD Term SOFR + 2.00%), 3/17/32 | 597 | 600,239 | |
| Prime Security Services Borrower LLC, Term Loan, 6.129%, (6 mo. USD Term SOFR + 2.00%), 10/13/30 | 843 | 844,918 | |
| Reworld Holding Corp.: | |||
| Term Loan, 1/15/31(22) | 1,054 | 1,055,960 | |
| Term Loan, 1/15/31(22) | 171 | 171,594 | |
| Tidal Waste & Recycling Holdings LLC, Term Loan, 6.422%, (3 mo. USD Term SOFR + 2.75%), 10/24/31 | 720 | 726,327 | |
| $ 22,668,273 | |||
| Communications Equipment — 0.1% | |||
| Viavi Solutions, Inc., Term Loan, 6.394%, (3 mo. USD Term SOFR + 2.50%), 10/16/32 | 650 | $ 654,875 | |
| $ 654,875 | |||
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Construction Materials — 0.4% | |||
| Knife River HoldCo, Term Loan, 5.738%, (3 mo. USD Term SOFR + 2.00%), 3/8/32 | 248 | $ 249,676 | |
| Quikrete Holdings, Inc.: | |||
| Term Loan, 5.966%, (1 mo. USD Term SOFR + 2.25%), 3/19/29 | 2,094 | 2,104,125 | |
| Term Loan, 5.966%, (1 mo. USD Term SOFR + 2.25%), 4/14/31 | 1,302 | 1,306,932 | |
| Term Loan, 5.966%, (1 mo. USD Term SOFR + 2.25%), 2/10/32 | 1,338 | 1,343,519 | |
| $ 5,004,252 | |||
| Consumer Staples Distribution & Retail — 0.2% | |||
| Boots Group Bidco Ltd.: | |||
| Term Loan, 5.582%, (3 mo. EURIBOR + 3.50%), 8/30/32 | EUR | 1,000 | $ 1,191,236 |
| Term Loan, 7.206%, (3 mo. USD Term SOFR + 3.50%), 8/30/32 | 1,600 | 1,610,664 | |
| $ 2,801,900 | |||
| Containers & Packaging — 0.5% | |||
| Altium Packaging LLC, Term Loan, 6.216%, (1 mo. USD Term SOFR + 2.50%), 6/11/31 | 493 | $ 477,110 | |
| Berlin Packaging LLC, Term Loan, 6.922% - 7.235%, (1 mo. USD Term SOFR + 3.25%, 3 mo. USD Term SOFR + 3.25%), 6/7/31 | 1,207 | 1,210,751 | |
| Clydesdale Acquisition Holdings, Inc., Term Loan, 6.891%, (1 mo. USD Term SOFR + 3.18%), 4/13/29 | 468 | 468,583 | |
| Owens-Illinois, Inc., Term Loan, 6.838%, (3 mo. USD Term SOFR + 3.00%), 9/30/32 | 1,025 | 1,035,091 | |
| Pregis TopCo Corp., Term Loan, 7.716%, (1 mo. USD Term SOFR + 4.00%), 2/1/29 | 611 | 617,097 | |
| Pretium PKG Holdings, Inc., Term Loan - Second Lien, 10.855%, (3 mo. USD Term SOFR + 6.75%), 10/1/29 | 350 | 13,375 | |
| Proampac PG Borrower LLC, Term Loan, 7.878% - 7.905%, (3 mo. USD Term SOFR + 4.00%), 9/15/28 | 1,252 | 1,255,952 | |
| Trivium Packaging BV, Term Loan, 5.81%, (3 mo. EURIBOR + 3.75%), 5/28/30 | EUR | 500 | 591,149 |
| $ 5,669,108 | |||
| Distributors — 0.4% | |||
| BradyPlus Holdings LLC, Term Loan, 7.172%, (3 mo. USD Term SOFR + 3.50%), 12/29/32 | 975 | $ 966,264 | |
| Parts Europe SA, Term Loan, 5.004%, (3 mo. EURIBOR + 3.00%), 2/3/31 | EUR | 1,500 | 1,788,264 |
| Phillips Feed Service, Inc., Term Loan, 10.816%, (1 mo. USD Term SOFR + 7.00%), 11/13/26(8) | 103 | 63,818 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Distributors (continued) | |||
| Rubix Group Midco 3 Ltd., Term Loan, 6.083%, (6 mo. EURIBOR + 4.00%), 9/30/28 | EUR | 1,000 | $ 1,190,624 |
| Safic-Alcan SAS, Term Loan, 5.519%, (3 mo. EURIBOR + 3.50%), 6/22/29 | EUR | 1,000 | 1,191,359 |
| $ 5,200,329 | |||
| Diversified Consumer Services — 0.6% | |||
| Amber Finco PLC, Term Loan, 5.269%, (3 mo. EURIBOR + 3.25%), 6/11/29 | EUR | 1,100 | $ 1,311,503 |
| Ascend Learning LLC, Term Loan, 6.716%, (1 mo. USD Term SOFR + 3.00%), 12/11/28 | 626 | 628,731 | |
| Fugue Finance BV, Term Loan, 5.317%, (3 mo. EURIBOR + 3.25%), 1/9/32 | EUR | 1,000 | 1,188,732 |
| KUEHG Corp., Term Loan, 6.422%, (3 mo. USD Term SOFR + 2.75%), 6/12/30 | 891 | 866,876 | |
| Lernen Bidco Ltd., Term Loan, 7.41%, (6 mo. USD Term SOFR + 3.50%), 10/27/31 | 545 | 546,563 | |
| Spring Education Group, Inc., Term Loan, 6.922%, (3 mo. USD Term SOFR + 3.25%), 10/4/30 | 1,333 | 1,342,169 | |
| Wand NewCo 3, Inc., Term Loan, 6.216%, (1 mo. USD Term SOFR + 2.50%), 1/30/31 | 1,077 | 1,078,947 | |
| $ 6,963,521 | |||
| Diversified Financial Services — 0.1% | |||
| Concorde Midco Ltd., Term Loan, 5.517%, (3 mo. EURIBOR + 3.50%), 3/1/30 | EUR | 1,000 | $ 1,132,599 |
| $ 1,132,599 | |||
| Diversified Telecommunication Services — 0.8% | |||
| Altice France SA, Term Loan, 10.86%, (3 mo. USD Term SOFR + 6.88%), 5/31/31 | 812 | $ 813,183 | |
| Anuvu Holdings 2 LLC, Term Loan, 12.051%, (3 mo. USD Term SOFR + 8.25%), 3/23/26(8) | 914 | 16,818 | |
| Eircom Finco SARL, Term Loan, 4.665%, (1 mo. EURIBOR + 2.75%), 5/15/32 | EUR | 1,786 | 2,111,989 |
| Lumen Technologies, Inc.: | |||
| Term Loan, 6.181%, (1 mo. USD Term SOFR + 2.35%), 4/16/29 | 1,035 | 1,031,486 | |
| Term Loan, 6.181%, (1 mo. USD Term SOFR + 2.35%), 4/15/30 | 1,035 | 1,031,139 | |
| Telenet International Finance SARL, Term Loan, 4.185%, (1 mo. EURIBOR + 2.25%), 4/30/29 | EUR | 1,750 | 2,070,574 |
| Virgin Media Bristol LLC, Term Loan, 7.115%, (1 mo. USD Term SOFR + 3.25%), 1/31/29 | 1,150 | 1,153,594 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Diversified Telecommunication Services (continued) | |||
| VMED O2 UK Holdco 4 Ltd., Term Loan, 5.19%, (1 mo. EURIBOR + 3.25%), 1/31/33 | EUR | 600 | $ 710,408 |
| Zayo Group Holdings, Inc., Term Loan, 5.651%, (1 mo. EURIBOR + 3.75%), 5.151% cash, 0.50% PIK, 3/11/30 | EUR | 610 | 699,310 |
| $ 9,638,501 | |||
| Electric Utilities — 0.2% | |||
| MRP Buyer LLC: | |||
| Term Loan, 6.922%, (3 mo. USD Term SOFR + 3.25%), 6/4/32 | 1,902 | $ 1,891,788 | |
| Term Loan, 6.922%, (3 mo. USD Term SOFR + 3.25%), 6/4/32(21) | 242 | 241,013 | |
| $ 2,132,801 | |||
| Electrical Equipment — 0.7% | |||
| Dynamo Newco II GmbH, Term Loan, 5.134%, (1 mo. EURIBOR + 3.25%), 10/1/31 | EUR | 500 | $ 592,007 |
| Kohler Energy Co. LLC: | |||
| Term Loan, 6.769%, (3 mo. EURIBOR + 4.75%), 5/1/31 | EUR | 1,500 | 1,772,055 |
| Term Loan, 7.422%, (3 mo. USD Term SOFR + 3.75%), 5/1/31 | 2,084 | 2,098,766 | |
| Nvent Electric PLC, Term Loan, 6.843%, (1 mo. USD Term SOFR + 3.00%), 1/30/32 | 1,122 | 1,130,957 | |
| WEC U.S. Holdings Ltd., Term Loan, 5.873%, (1 mo. USD Term SOFR + 2.00%), 1/27/31 | 3,012 | 3,020,368 | |
| $ 8,614,153 | |||
| Electronic Equipment, Instruments & Components — 0.6% | |||
| Chamberlain Group, Inc., Term Loan, 6.466%, (1 mo. USD Term SOFR + 2.75%), 9/8/32 | 2,767 | $ 2,776,208 | |
| Creation Technologies, Inc., Term Loan, 9.696%, (3 mo. USD Term SOFR + 5.50%), 10/5/28 | 941 | 942,051 | |
| Range Red Operating, Inc.: | |||
| Term Loan, 11.989%, (3 mo. USD Term SOFR + 8.00%), 10/1/29(8) | 188 | 150,346 | |
| Term Loan - Second Lien, 11.989%, (3 mo. USD Term SOFR + 8.00%), 10/1/29(8) | 788 | 630,680 | |
| Sector Alarm Holding AS, Term Loan, 5.569%, (3 mo. EURIBOR + 3.50%), 6/14/29 | EUR | 500 | 594,478 |
| Talbot Participation SAS, Term Loan, 5.404%, (1 week EURIBOR + 3.50%), 7/7/32 | EUR | 1,000 | 1,185,665 |
| Verifone Systems, Inc., Term Loan, 9.352%, (3 mo. USD Term SOFR + 5.25%), 8/18/28 | 557 | 529,212 | |
| $ 6,808,640 | |||
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Energy Equipment & Services — 0.3% | |||
| Ameriforge Group, Inc.: | |||
| Term Loan, 14.842%, (1 mo. USD Term SOFR + 11.00%), 3.842% cash, 11.00% PIK, 12/31/25(8) | 141 | $ 2,726 | |
| Term Loan, 14.842%, (1 mo. USD Term SOFR + 11.00%), 3.842% cash, 11.00% PIK, 12/31/25(8) | 1,217 | 23,603 | |
| New Generation Gas Gathering LLC, Term Loan, 9.59%, (3 mo. USD Term SOFR + 5.75%), 9/30/29 | 2,261 | 2,221,705 | |
| PG Investment Co. 59 SARL, Term Loan, 5.922%, (3 mo. USD Term SOFR + 2.25%), 3/26/31 | 1,387 | 1,393,226 | |
| $ 3,641,260 | |||
| Engineering & Construction — 0.7% | |||
| American Residential Services LLC, Term Loan, 6.422%, (3 mo. USD Term SOFR + 2.75%), 2/2/32 | 624 | $ 627,952 | |
| APi Group DE, Inc., Term Loan, 5.466%, (1 mo. USD Term SOFR + 1.75%), 1/3/29 | 1,248 | 1,253,773 | |
| Artera Services LLC, Term Loan, 8.172%, (3 mo. USD Term SOFR + 4.50%), 2/15/31 | 418 | 339,967 | |
| Azuria Water Solutions, Inc.: | |||
| Term Loan, 6.716%, (1 mo. USD Term SOFR + 3.00%), 5/17/28 | 887 | 892,853 | |
| Term Loan, 5/17/28(21) | 65 | 65,352 | |
| Construction Partners, Inc., Term Loan, 6.216%, (1 mo. USD Term SOFR + 2.50%), 11/3/31 | 520 | 524,298 | |
| Green Infrastructure Partners, Inc., Term Loan, 6.422%, (3 mo. USD Term SOFR + 2.75%), 9/24/32 | 925 | 928,469 | |
| Holding Socotec, Term Loan, 5.519%, (3 mo. EURIBOR + 3.50%), 6/2/31 | EUR | 1,000 | 1,189,796 |
| Northstar Group Services, Inc., Term Loan, 8.59%, (3 mo. USD Term SOFR + 4.75%), 5/31/30 | 1,702 | 1,717,760 | |
| Platea BC Bidco AB: | |||
| Term Loan, 5.518%, (3 mo. EURIBOR + 3.50%), 4/3/31 | EUR | 417 | 496,049 |
| Term Loan, 5.518%, (3 mo. EURIBOR + 3.50%), 4/3/31(21) | EUR | 83 | 99,210 |
| $ 8,135,479 | |||
| Entertainment — 0.5% | |||
| City Football Group Ltd., Term Loan, 6.934%, (3 mo. USD Term SOFR + 3.00%), 7/22/30 | 1,324 | $ 1,325,552 | |
| Dorna Sports SL, Term Loan, 4.874%, (6 mo. EURIBOR + 2.75%), 8/18/32 | EUR | 1,500 | 1,778,127 |
| Playtika Holding Corp., Term Loan, 6.581%, (1 mo. USD Term SOFR + 2.75%), 3/13/28 | 2,109 | 2,043,063 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Entertainment (continued) | |||
| Pretzel Parent, Inc., Term Loan, 8.216%, (1 mo. USD Term SOFR + 4.50%), 10/1/31 | 993 | $ 982,575 | |
| Vue Entertainment International Ltd., Term Loan, 10.103%, (6 mo. EURIBOR + 8.00%), 2.103% cash, 8.00% PIK, 12/31/27 | EUR | 28 | 21,012 |
| $ 6,150,329 | |||
| Financial Services — 0.6% | |||
| CPI Holdco B LLC, Term Loan, 5.716%, (1 mo. USD Term SOFR + 2.00%), 5/19/31 | 1,207 | $ 1,210,572 | |
| NCR Atleos LLC, Term Loan, 6.701%, (3 mo. USD Term SOFR + 3.00%), 4/16/29 | 555 | 557,787 | |
| Nuvei Technologies Corp., Term Loan, 6.216%, (1 mo. USD Term SOFR + 2.50%), 11/17/31 | 521 | 522,348 | |
| Planet U.S. Buyer LLC, Term Loan, 6.822%, (3 mo. USD Term SOFR + 3.00%), 2/7/31 | 1,182 | 1,191,179 | |
| Synechron, Inc., Term Loan, 7.572%, (3 mo. USD Term SOFR + 3.75%), 10/3/31 | 1,093 | 1,090,140 | |
| TMF Group Holding BV: | |||
| Term Loan, 5.249%, (3 mo. EURIBOR + 3.25%), 5/3/28 | EUR | 1,000 | 1,191,482 |
| Term Loan, 6.687%, (3 mo. USD Term SOFR + 2.75%), 5/3/28 | 368 | 370,458 | |
| Walker & Dunlop, Inc., Term Loan, 5.734%, (1 mo. USD Term SOFR + 2.00%), 3/14/32 | 720 | 724,060 | |
| WEX, Inc., Term Loan, 5.466%, (1 mo. USD Term SOFR + 1.75%), 3/5/32 | 819 | 820,180 | |
| $ 7,678,206 | |||
| Food Products — 1.5% | |||
| Artisan Newco BV, Term Loan, 5.50%, (3 mo. EURIBOR + 3.50%), 4/5/32 | EUR | 495 | $ 587,410 |
| CHG PPC Parent LLC: | |||
| Term Loan, 5.401%, (1 mo. EURIBOR + 3.50%), 12/8/28 | EUR | 2,000 | 2,378,311 |
| Term Loan, 6.831%, (1 mo. USD Term SOFR + 3.00%), 12/8/28 | 457 | 459,302 | |
| Del Monte Foods, Inc.: | |||
| DIP Loan, 13.35%, (1 mo. USD Term SOFR + 9.50%), 4/2/26 | 239 | 229,708 | |
| Term Loan, 0.00%, 8/2/28(18) | 62 | 31,141 | |
| Term Loan, 0.00%, 8/2/28(18) | 55 | 27,680 | |
| Term Loan, 13.35% - 13.559%, (1 mo. USD Term SOFR + 9.60%), 4/2/26 | 300 | 248,983 | |
| Term Loan - Second Lien, 0.00%, 8/2/28(18) | 439 | 20,841 | |
| Froneri Lux Finco SARL: | |||
| Term Loan, 4.833%, (6 mo. EURIBOR + 2.75%), 9/30/31 | EUR | 1,275 | 1,504,748 |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Food Products (continued) | |||
| Froneri Lux Finco SARL: (continued) | |||
| Term Loan, 4.873%, (3 mo. EURIBOR + 2.75%), 9/30/32 | EUR | 1,000 | $ 1,181,076 |
| Term Loan, 5.922%, (3 mo. USD Term SOFR + 2.25%), 9/30/32 | 850 | 851,186 | |
| Term Loan, 6.447%, (6 mo. USD Term SOFR + 2.25%), 9/30/31 | 2,091 | 2,092,238 | |
| Golden State Food LLC, Term Loan, 7.672%, (3 mo. USD Term SOFR + 4.00%), 12/4/31 | 249 | 250,606 | |
| Monogram Food Solutions LLC, Term Loan, 7.831%, (1 mo. USD Term SOFR + 4.00%), 8/28/28 | 528 | 529,980 | |
| Newly Weds Foods, Inc., Term Loan, 5.984%, (1 mo. USD Term SOFR + 2.25%), 3/15/32 | 1,194 | 1,197,480 | |
| Nomad Foods Europe Midco Ltd., Term Loan, 4.755%, (3 mo. EURIBOR + 2.50%), 10/28/32 | EUR | 3,000 | 3,556,449 |
| Pegasus BidCo BV, Term Loan, 5.064%, (3 mo. EURIBOR + 3.00%), 7/12/29 | EUR | 940 | 1,118,911 |
| PFI Lower Midco LLC, Term Loan, 7.873%, (1 mo. USD Term SOFR + 4.00%), 12/1/32 | 575 | 580,031 | |
| POP Bidco SAS, Term Loan, 6.333%, (6 mo. EURIBOR + 4.25%), 11/26/31 | EUR | 500 | 595,051 |
| United Petfood Finance BV, Term Loan, 4.577%, (6 mo. EURIBOR + 2.50%), 2/26/32 | EUR | 750 | 890,373 |
| Valeo F1 Co. Ltd. (Ireland), Term Loan, 6.109%, (6 mo. EURIBOR + 4.00%), 9/29/28 | EUR | 500 | 589,639 |
| $ 18,921,144 | |||
| Ground Transportation — 0.1% | |||
| Student Transportation of America Holdings, Inc., Term Loan, 6.939%, (3 mo. USD Term SOFR + 3.25%), 6/24/32 | 896 | $ 899,234 | |
| $ 899,234 | |||
| Health Care Equipment & Supplies — 0.1% | |||
| Bausch & Lomb Corp., Term Loan, 7.966%, (1 mo. USD Term SOFR + 4.25%), 1/15/31 | 1,022 | $ 1,034,445 | |
| $ 1,034,445 | |||
| Health Care Providers & Services — 2.2% | |||
| AEA International Holdings (Lux) SARL, Term Loan, 6.422%, (3 mo. USD Term SOFR + 2.75%), 9/7/28 | 1,033 | $ 1,038,962 | |
| CCRR Parent, Inc., Term Loan, 8.334%, (3 mo. USD Term SOFR + 4.25%), 3/6/28 | 500 | 146,999 | |
| CNT Holdings I Corp., Term Loan, 6.09%, (3 mo. USD Term SOFR + 2.25%), 11/8/32 | 669 | 671,222 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Health Care Providers & Services (continued) | |||
| Concentra Health Services, Inc., Term Loan, 5.716%, (1 mo. USD Term SOFR + 2.00%), 7/26/31 | 371 | $ 374,390 | |
| Electron BidCo, Inc., Term Loan, 6.216%, (1 mo. USD Term SOFR + 2.50%), 11/1/28 | 1,072 | 1,078,723 | |
| Elsan SAS, Term Loan, 5.582%, (3 mo. EURIBOR + 3.50%), 6/16/31 | EUR | 1,500 | 1,724,115 |
| Ensemble RCM LLC, Term Loan, 6.84%, (3 mo. USD Term SOFR + 3.00%), 8/1/29 | 2,279 | 2,292,531 | |
| Hanger, Inc.: | |||
| Term Loan, 7.216%, (1 mo. USD Term SOFR + 3.50%), 10/23/31 | 1,165 | 1,170,345 | |
| Term Loan, 7.216%, (1 mo. USD Term SOFR + 3.50%), 10/23/31(21) | 151 | 151,489 | |
| Heartland Dental LLC, Term Loan, 7.466%, (1 mo. USD Term SOFR + 3.75%), 8/25/32 | 672 | 675,225 | |
| IVC Acquisition Ltd.: | |||
| Term Loan, 7.422%, (3 mo. USD Term SOFR + 3.75%), 12/12/28 | 1,005 | 1,011,702 | |
| Term Loan, 9.094%, (3 mo. GBP SONIA + 5.00%), 12/12/28 | GBP | 1,000 | 1,355,877 |
| MDVIP, Inc., Term Loan, 6.73%, (1 mo. USD Term SOFR + 3.00%), 10/14/31 | 773 | 776,005 | |
| Mehilainen Yhtiot OYJ, Term Loan, 5.518%, (3 mo. EURIBOR + 3.50%), 8/5/31 | EUR | 1,000 | 1,191,148 |
| Midwest Physician Administrative Services LLC, Term Loan, 6.934%, (3 mo. USD Term SOFR + 3.00%), 3/12/28 | 1,296 | 1,182,233 | |
| National Mentor Holdings, Inc.: | |||
| Term Loan, 9.716%, (1 mo. USD Term SOFR + 6.00%), 12/12/30 | 1,433 | 1,437,794 | |
| Term Loan, 12/12/30(21) | 614 | 616,197 | |
| Pacific Dental Services LLC, Term Loan, 6.236%, (1 mo. USD Term SOFR + 2.50%), 3/15/31 | 1,182 | 1,187,618 | |
| Phoenix Guarantor, Inc., Term Loan, 6.216%, (1 mo. USD Term SOFR + 2.50%), 2/21/31 | 1,562 | 1,571,687 | |
| Radnet Management, Inc., Term Loan, 6.072%, (3 mo. USD Term SOFR + 2.25%), 4/18/31 | 714 | 717,653 | |
| Raven Acquisition Holdings LLC: | |||
| Term Loan, 6.716%, (1 mo. USD Term SOFR + 3.00%), 11/19/31 | 1,505 | 1,511,938 | |
| Term Loan, 11/19/31(21) | 108 | 108,812 | |
| Reverb Buyer, Inc., Term Loan, 7.44%, (3 mo. USD Term SOFR + 3.50%), 11/1/28 | 1,421 | 1,023,118 | |
| Select Medical Corp., Term Loan, 5.716%, (1 mo. USD Term SOFR + 2.00%), 12/3/31 | 965 | 965,250 | |
| Surgery Center Holdings, Inc., Term Loan, 6.216%, (1 mo. USD Term SOFR + 2.50%), 12/19/30 | 926 | 930,818 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Health Care Providers & Services (continued) | |||
| Synlab Bondco PLC: | |||
| Term Loan, 4.551%, (6 mo. EURIBOR + 2.50%), 7/1/27 | EUR | 500 | $ 591,137 |
| Term Loan, 5.816%, (3 mo. EURIBOR + 3.75%), 4/16/31 | EUR | 125 | 148,355 |
| U.S. Anesthesia Partners, Inc., Term Loan, 7.987%, (1 mo. USD Term SOFR + 4.00%), 10/1/28 | 1,459 | 1,467,763 | |
| $ 27,119,106 | |||
| Health Care Technology — 0.2% | |||
| Imprivata, Inc., Term Loan, 6.672%, (3 mo. USD Term SOFR + 3.00%), 12/1/27 | 514 | $ 516,936 | |
| PointClickCare Technologies, Inc., Term Loan, 6.422%, (3 mo. USD Term SOFR + 2.75%), 11/3/31 | 645 | 647,285 | |
| Press Ganey Holdings, Inc., Term Loan, 6.716%, (1 mo. USD Term SOFR + 3.00%), 4/30/31 | 642 | 643,905 | |
| Project Ruby Ultimate Parent Corp., Term Loan, 6.581%, (1 mo. USD Term SOFR + 2.75%), 3/10/28 | 1,006 | 1,009,514 | |
| $ 2,817,640 | |||
| Hotels, Restaurants & Leisure — 1.6% | |||
| Betclic Everest Group, Term Loan, 5.005%, (3 mo. EURIBOR + 3.00%), 12/10/31 | EUR | 500 | $ 594,516 |
| Caesars Entertainment, Inc., Term Loan, 5.966%, (1 mo. USD Term SOFR + 2.25%), 2/6/31 | 2,235 | 2,218,424 | |
| Fertitta Entertainment LLC, Term Loan, 6.966%, (1 mo. USD Term SOFR + 3.25%), 1/27/29 | 4,055 | 4,058,338 | |
| Flutter Financing BV, Term Loan, 5.422%, (3 mo. USD Term SOFR + 1.75%), 11/30/30 | 3,014 | 3,014,751 | |
| GVC Holdings (Gibraltar) Ltd., Term Loan, 5.519%, (3 mo. EURIBOR + 3.50%), 6/30/28 | EUR | 1,119 | 1,327,386 |
| Herschend Entertainment Co. LLC, Term Loan, 6.966%, (1 mo. USD Term SOFR + 3.25%), 5/27/32 | 398 | 401,275 | |
| Horizon U.S. Finco LP, Term Loan, 8.198%, (6 mo. USD Term SOFR + 4.50%), 10/31/31 | 1,039 | 1,020,104 | |
| IRB Holding Corp., Term Loan, 6.216%, (1 mo. USD Term SOFR + 2.50%), 12/16/30 | 290 | 291,331 | |
| New Bidco AB, Term Loan, 5.768%, (3 mo. EURIBOR + 3.75%), 11/2/31 | EUR | 937 | 1,102,462 |
| Ontario Gaming GTA LP, Term Loan, 7.922%, (3 mo. USD Term SOFR + 4.25%), 8/1/30 | 1,474 | 1,367,554 | |
| Scientific Games Holdings LP, Term Loan, 5.75%, (3 mo. EURIBOR + 3.75%), 4/4/29 | EUR | 1,000 | 1,165,164 |
| SeaWorld Parks & Entertainment, Inc., Term Loan, 5.716%, (1 mo. USD Term SOFR + 2.00%), 12/4/31 | 862 | 858,642 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Hotels, Restaurants & Leisure (continued) | |||
| Turquoise Topco Ltd., Term Loan, 12/30/32(22) | 1,100 | $ 1,087,625 | |
| Voyager Parent LLC, Term Loan, 8.422%, (3 mo. USD Term SOFR + 4.75%), 7/1/32 | 873 | 874,532 | |
| Wyndham Hotels & Resorts, Inc., Term Loan, 5.466%, (1 mo. USD Term SOFR + 1.75%), 5/24/30 | 758 | 760,491 | |
| $ 20,142,595 | |||
| Household Durables — 1.3% | |||
| Libbey Glass, Inc., Term Loan, 10.509%, (3 mo. USD Term SOFR + 6.50%), 11/22/27 | 9,218 | $ 8,906,440 | |
| Madison Safety & Flow LLC, Term Loan, 6.227%, (1 mo. USD Term SOFR + 2.50%), 9/26/31 | 434 | 437,613 | |
| PHRG Intermediate LLC, Term Loan, 7.672%, (3 mo. USD Term SOFR + 4.00%), 2/20/32 | 945 | 941,313 | |
| Serta Simmons Bedding LLC: | |||
| Term Loan, 11.286%, (3 mo. USD Term SOFR + 7.50%), 6/29/28 | 3,593 | 3,397,431 | |
| Term Loan, 11.484%, (3 mo. USD Term SOFR + 7.50%), 6/29/28 | 390 | 390,585 | |
| Somnigroup International, Inc., Term Loan, 5.91%, (1 mo. USD Term SOFR + 2.25%), 10/24/31 | 1,312 | 1,322,338 | |
| $ 15,395,720 | |||
| Household Products — 0.1% | |||
| Kronos Acquisition Holdings, Inc., Term Loan, 7.672%, (3 mo. USD Term SOFR + 4.00%), 7/8/31 | 1,827 | $ 1,197,973 | |
| $ 1,197,973 | |||
| Independent Power and Renewable Electricity Producers — 0.1% | |||
| Invenergy Thermal Operating I LLC: | |||
| Term Loan, 6.41%, (3 mo. USD Term SOFR + 2.75%), 5/17/32 | 1,032 | $ 1,039,073 | |
| Term Loan, 6.41%, (3 mo. USD Term SOFR + 2.75%), 5/17/32 | 65 | 65,585 | |
| $ 1,104,658 | |||
| Industrial Conglomerates — 0.2% | |||
| Ammeraal Beltech Holding BV, Term Loan, 7.019%, (3 mo. EURIBOR + 5.00%), 12/30/28 | EUR | 942 | $ 972,207 |
| Rain Carbon GmbH, Term Loan, 7.035%, (3 mo. EURIBOR + 5.00%), 10/31/28 | EUR | 901 | 1,060,047 |
| $ 2,032,254 | |||
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Insurance — 1.6% | |||
| Alera Group, Inc., Term Loan, 6.966%, (1 mo. USD Term SOFR + 3.25%), 5/31/32 | 1,870 | $ 1,881,432 | |
| Alliant Holdings Intermediate LLC, Term Loan, 6.216%, (1 mo. USD Term SOFR + 2.50%), 9/19/31 | 1,212 | 1,215,899 | |
| AmWINS Group, Inc., Term Loan, 5.966%, (1 mo. USD Term SOFR + 2.25%), 1/30/32 | 4,207 | 4,223,554 | |
| Broadstreet Partners, Inc., Term Loan, 6.466%, (1 mo. USD Term SOFR + 2.75%), 6/13/31 | 1,133 | 1,138,459 | |
| HUB International Ltd., Term Loan, 6.12%, (3 mo. USD Term SOFR + 2.25%), 6/20/30 | 4,486 | 4,513,922 | |
| IMA Financial Group, Inc., Term Loan, 6.716%, (1 mo. USD Term SOFR + 3.00%), 11/1/28 | 968 | 971,231 | |
| Ryan Specialty Group LLC, Term Loan, 5.716%, (1 mo. USD Term SOFR + 2.00%), 9/15/31 | 1,238 | 1,241,243 | |
| Trucordia Insurance Holdings LLC, Term Loan, 6.966%, (1 mo. USD Term SOFR + 3.25%), 6/17/32 | 873 | 868,448 | |
| Truist Insurance Holdings LLC, Term Loan, 6.422%, (3 mo. USD Term SOFR + 2.75%), 5/6/31 | 276 | 276,612 | |
| USI, Inc., Term Loan, 5.922%, (3 mo. USD Term SOFR + 2.25%), 11/21/29 | 2,988 | 2,998,439 | |
| $ 19,329,239 | |||
| Interactive Media & Services — 0.3% | |||
| Aragorn Parent Corp., Term Loan, 7.216%, (1 mo. USD Term SOFR + 3.50%), 12/15/28 | 937 | $ 944,819 | |
| Foundational Education Group, Inc., Term Loan, 7.852%, (3 mo. USD Term SOFR + 3.75%), 8/31/28 | 528 | 488,136 | |
| X Corp., Term Loan, 10.448%, (3 mo. USD Term SOFR + 6.50%), 10/26/29 | 2,179 | 2,145,421 | |
| $ 3,578,376 | |||
| IT Services — 1.3% | |||
| Asurion LLC: | |||
| Term Loan, 7.816%, (1 mo. USD Term SOFR + 4.00%), 8/19/28 | 982 | $ 984,240 | |
| Term Loan, 7.966%, (1 mo. USD Term SOFR + 4.25%), 9/19/30 | 2,016 | 2,019,153 | |
| Term Loan - Second Lien, 9.081%, (1 mo. USD Term SOFR + 5.25%), 1/31/28 | 1,350 | 1,347,685 | |
| Gainwell Acquisition Corp., Term Loan, 7.772%, (3 mo. USD Term SOFR + 4.00%), 10/1/27 | 1,449 | 1,426,104 | |
| Go Daddy Operating Co. LLC, Term Loan, 5.466%, (1 mo. USD Term SOFR + 1.75%), 11/9/29 | 144 | 144,620 | |
| Indy U.S. Bidco LLC, Term Loan, 4.651%, (1 mo. EURIBOR + 2.75%), 10/31/30 | EUR | 500 | 593,259 |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| IT Services (continued) | |||
| Iron Mountain, Inc., Term Loan, 5.716%, (1 mo. USD Term SOFR + 2.00%), 1/31/31 | 854 | $ 855,182 | |
| NAB Holdings LLC, Term Loan, 6.172%, (3 mo. USD Term SOFR + 2.50%), 11/23/28 | 1,081 | 1,035,727 | |
| Newfold Digital Holdings Group, Inc.: | |||
| Term Loan, 7.384%, (1 mo. USD Term SOFR + 3.50%), 4/30/29 | 2,210 | 1,853,918 | |
| Term Loan, 7.384%, (1 mo. USD Term SOFR + 3.50%), 4/30/29 | 390 | 248,663 | |
| Nielsen Consumer, Inc., Term Loan, 5.966%, (1 mo. USD Term SOFR + 2.25%), 10/31/30 | 1,219 | 1,222,263 | |
| Plano HoldCo, Inc., Term Loan, 7.172%, (3 mo. USD Term SOFR + 3.50%), 10/2/31 | 596 | 579,124 | |
| Rackspace Finance LLC: | |||
| Term Loan, 10.115%, (1 mo. USD Term SOFR + 6.25%), 5/15/28 | 1,441 | 1,470,422 | |
| Term Loan - Second Lien, 6.615%, (1 mo. USD Term SOFR + 2.75%), 5/15/28 | 856 | 320,147 | |
| Sedgwick Claims Management Services, Inc., Term Loan, 6.216%, (1 mo. USD Term SOFR + 2.50%), 7/31/31 | 1,194 | 1,198,739 | |
| Shift4 Payments LLC, Term Loan, 6.172%, (3 mo. USD Term SOFR + 2.50%), 6/30/32 | 249 | 251,142 | |
| Trio Bidco, Inc.: | |||
| Term Loan, 7.672%, (3 mo. USD Term SOFR + 4.00%), 10/29/32 | 385 | 385,966 | |
| Term Loan, 10/29/32(21) | 40 | 40,628 | |
| $ 15,976,982 | |||
| Leisure Products — 0.1% | |||
| Accell Group NV, Term Loan, 9.083%, (6 mo. EURIBOR + 7.00%), 5/31/30 | EUR | 97 | $ 5,126 |
| Recess Holdings, Inc., Term Loan, 7.615%, (3 mo. USD Term SOFR + 3.75%), 2/20/30 | 1,307 | 1,316,747 | |
| Sprint Holdco BV: | |||
| Term Loan, 9.083%, (6 mo. EURIBOR + 7.00%), 5/31/30 | EUR | 89 | 3,990 |
| Term Loan - Second Lien, 9.083%, (6 mo. EURIBOR + 7.00%), 6/30/31 | EUR | 51 | 845 |
| Sprint MidCo BV: | |||
| Term Loan, 0.02%, 6/30/31(23) | EUR | 82 | 722 |
| Term Loan - Second Lien, 9.083%, (6 mo. EURIBOR + 7.00%), 6/30/31 | EUR | 60 | 858 |
| $ 1,328,288 | |||
| Life Sciences Tools & Services — 0.4% | |||
| Loire Finco Luxembourg SARL: | |||
| Term Loan, 5.901%, (1 mo. EURIBOR + 4.00%), 1/21/30 | EUR | 1,000 | $ 1,189,344 |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Life Sciences Tools & Services (continued) | |||
| Loire Finco Luxembourg SARL: (continued) | |||
| Term Loan, 7.716%, (1 mo. USD Term SOFR + 4.00%), 1/21/30 | 332 | $ 332,990 | |
| Normec 1 BV, Term Loan, 4.884%, (1 mo. EURIBOR + 3.00%), 4/16/31 | EUR | 1,000 | 1,187,927 |
| Spectris PLC: | |||
| Term Loan, 5.303%, (3 mo. EURIBOR + 3.25%), 9/30/32 | EUR | 1,000 | 1,187,540 |
| Term Loan, 6.604%, (3 mo. USD Term SOFR + 2.75%), 9/30/32 | 399 | 401,494 | |
| $ 4,299,295 | |||
| Machinery — 2.7% | |||
| AAG U.S. GSI Bidco, Inc., Term Loan, 8.672%, (3 mo. USD Term SOFR + 5.00%), 10/31/31 | 496 | $ 499,044 | |
| Apex Tool Group LLC: | |||
| Term Loan, 8.966%, (1 mo. USD Term SOFR + 5.25%), 4/8/30 | 910 | 780,192 | |
| Term Loan, 9.716%, (1 mo. USD Term SOFR + 6.00%), 4/8/31 | 2,044 | 613,071 | |
| Term Loan, 9.716%, (1 mo. USD Term SOFR + 6.00%), 4/8/31 | 36 | 10,892 | |
| Term Loan, 10.716%, (1 mo. USD Term SOFR + 7.00%), 1/7/30 | 38 | 36,898 | |
| Term Loan, 13.716%, (1 mo. USD Term SOFR + 7.00%), 1/7/30 | 602 | 300,903 | |
| Astro Acquisition LLC, Term Loan, 7.122%, (6 mo. USD Term SOFR + 3.25%), 8/30/32 | 648 | 654,317 | |
| BG MS U.S. Holding LLC, Term Loan, 8.422%, (3 mo. USD Term SOFR + 4.75%), 10/22/32 | 800 | 800,000 | |
| Cleanova U.S. Holdings LLC, Term Loan, 8.483%, (3 mo. USD Term SOFR + 4.75%), 6/14/32 | 549 | 551,368 | |
| Conair Holdings LLC, Term Loan, 7.581%, (1 mo. USD Term SOFR + 3.75%), 5/17/28 | 911 | 479,215 | |
| CoorsTek, Inc., Term Loan, 6.859%, (3 mo. USD Term SOFR + 3.00%), 10/28/32 | 850 | 857,973 | |
| CPM Holdings, Inc., Term Loan, 8.343%, (1 mo. USD Term SOFR + 4.50%), 9/28/28 | 296 | 295,329 | |
| Cube Industrials Buyer, Inc., Term Loan, 6.912%, (3 mo. USD Term SOFR + 3.00%), 10/17/31 | 621 | 625,601 | |
| Delachaux Group SA, Term Loan, 5.316%, (3 mo. EURIBOR + 3.25%), 4/16/29 | EUR | 922 | 1,098,456 |
| EMRLD Borrower LP: | |||
| Term Loan, 6.072%, (3 mo. USD Term SOFR + 2.25%), 5/31/30 | 704 | 706,251 | |
| Term Loan, 6.122%, (6 mo. USD Term SOFR + 2.25%), 8/4/31 | 1,037 | 1,040,248 | |
| Engineered Machinery Holdings, Inc.: | |||
| Term Loan, 5.519%, (3 mo. EURIBOR + 3.50%), 11/26/32 | EUR | 960 | 1,138,414 |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Machinery (continued) | |||
| Engineered Machinery Holdings, Inc.: (continued) | |||
| Term Loan, 6.016%, (3 mo. EURIBOR + 4.00%), 5/19/28 | EUR | 1,000 | $ 1,184,014 |
| Term Loan, 6.922%, (3 mo. USD Term SOFR + 3.25%), 11/26/32 | 2,557 | 2,576,577 | |
| Filtration Group Corp.: | |||
| Term Loan, 5.401%, (1 mo. EURIBOR + 3.50%), 10/21/28 | EUR | 1,184 | 1,412,942 |
| Term Loan, 6.466%, (1 mo. USD Term SOFR + 2.75%), 10/21/28 | 693 | 697,663 | |
| Gates Global LLC, Term Loan, 5.466%, (1 mo. USD Term SOFR + 1.75%), 6/4/31 | 3,555 | 3,567,958 | |
| Icebox Holdco III, Inc., Term Loan, 6.922%, (3 mo. USD Term SOFR + 3.25%), 12/22/31 | 819 | 827,281 | |
| INNIO Group Holding GmbH, Term Loan, 4.754%, (3 mo. EURIBOR + 2.75%), 11/2/28 | EUR | 578 | 688,431 |
| Jennmar Inter III LLC, Term Loan, 8.734%, (3 mo. USD Term SOFR + 5.00%), 12/16/30 | 600 | 597,000 | |
| Roper Industrial Products Investment Co. LLC: | |||
| Term Loan, 5.519%, (3 mo. EURIBOR + 3.50%), 11/22/29 | EUR | 984 | 1,167,786 |
| Term Loan, 6.422%, (3 mo. USD Term SOFR + 2.75%), 11/22/29 | 982 | 989,184 | |
| SPX Flow, Inc., Term Loan, 6.466%, (1 mo. USD Term SOFR + 2.75%), 4/5/29 | 1,017 | 1,020,681 | |
| Terex Corp., Term Loan, 5.466%, (1 mo. USD Term SOFR + 1.75%), 10/8/31 | 2,357 | 2,372,468 | |
| TK Elevator Midco GmbH: | |||
| Term Loan, 5.121%, (6 mo. EURIBOR + 3.00%), 4/30/30 | EUR | 1,500 | 1,783,125 |
| Term Loan, 6.947%, (6 mo. USD Term SOFR + 2.75%), 4/30/30 | 1,971 | 1,985,410 | |
| Zephyr German BidCo GmbH, Term Loan, 5.169%, (3 mo. EURIBOR + 3.15%), 3/10/28 | EUR | 1,500 | 1,781,442 |
| $ 33,140,134 | |||
| Marine Transportation — 0.1% | |||
| Boluda Towage SL, Term Loan, 5.384%, (1 mo. EURIBOR + 3.50%), 1/31/30 | EUR | 1,000 | $ 1,189,837 |
| $ 1,189,837 | |||
| Media — 0.3% | |||
| ABG Intermediate Holdings 2 LLC: | |||
| Term Loan, 5.966%, (1 mo. USD Term SOFR + 2.25%), 12/21/28 | 245 | $ 245,492 | |
| Term Loan, 5.966%, (1 mo. USD Term SOFR + 2.25%), 2/13/32 | 620 | 621,631 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Media (continued) | |||
| Charter Communications Operating LLC, Term Loan, 6.235%, (3 mo. USD Term SOFR + 2.25%), 12/15/31 | 569 | $ 570,317 | |
| Emerald X, Inc., Term Loan, 6.966%, (1 mo. USD Term SOFR + 3.25%), 1/30/32 | 224 | 226,208 | |
| Fleet Midco I Ltd., Term Loan, 6.792%, (6 mo. USD Term SOFR + 2.75%), 2/21/31 | 829 | 834,247 | |
| Gray Television, Inc., Term Loan, 6.987%, (1 mo. USD Term SOFR + 3.00%), 12/1/28 | 492 | 493,225 | |
| Hubbard Radio LLC, Term Loan, 8.216%, (1 mo. USD Term SOFR + 4.50%), 9/30/27 | 538 | 121,035 | |
| $ 3,112,155 | |||
| Metals/Mining — 0.2% | |||
| American Consolidated Natural Resources, Inc., Term Loan - Second Lien, 13.00%, 12/11/29(23) | 416 | $ 416,114 | |
| Arsenal AIC Parent LLC, Term Loan, 6.466%, (1 mo. USD Term SOFR + 2.75%), 8/19/30 | 429 | 430,624 | |
| Navoi Mining & Metallurgical Co., Term Loan, 8.63%, (3 mo. USD Term SOFR + 4.76%), 4/23/27 | 10 | 9,890 | |
| WireCo WorldGroup, Inc., Term Loan, 7.607%, (3 mo. USD Term SOFR + 3.75%), 11/13/28 | 428 | 429,276 | |
| Zekelman Industries, Inc., Term Loan, 5.981%, (1 mo. USD Term SOFR + 2.25%), 1/24/31 | 1,078 | 1,084,503 | |
| $ 2,370,407 | |||
| Oil and Gas Exploration and Production — 0.1% | |||
| Staatsolie Maatschappij Suriname NV: | |||
| Revolving Loan, 4/26/32(21) | 1,228 | $ 1,228,031 | |
| Term Loan, 9.308%, (1 mo. USD Term SOFR + 5.50%), 5/24/32 | 72 | 71,911 | |
| $ 1,299,942 | |||
| Oil, Gas & Consumable Fuels — 0.6% | |||
| Freeport LNG Investments LLLP, Term Loan, 7.12%, (3 mo. USD Term SOFR + 3.25%), 12/21/28 | 618 | $ 621,728 | |
| GIP Pilot Acquisition Partners LP, Term Loan, 5.935%, (3 mo. USD Term SOFR + 2.00%), 10/4/30 | 471 | 472,359 | |
| Hilcorp Energy I LP, Term Loan, 5.736%, (1 mo. USD Term SOFR + 2.00%), 2/11/30 | 844 | 846,266 | |
| ITT Holdings LLC, Term Loan, 6.191%, (1 mo. USD Term SOFR + 2.48%), 10/11/30 | 782 | 787,692 | |
| Matador Bidco SARL, Term Loan, 8.066%, (1 mo. USD Term SOFR + 4.25%), 7/30/29 | 1,176 | 1,180,428 | |
| Natgasoline LLC, Term Loan, 9.216%, (1 mo. USD Term SOFR + 5.50%), 3/29/30 | 515 | 520,522 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Oil, Gas & Consumable Fuels (continued) | |||
| Oryx Midstream Services Permian Basin LLC, Term Loan, 5.977%, (1 mo. USD Term SOFR + 2.25%), 10/5/28 | 1,003 | $ 1,011,431 | |
| Oxbow Carbon LLC, Term Loan, 7.216%, (1 mo. USD Term SOFR + 3.50%), 5/10/30 | 483 | 484,021 | |
| UGI Energy Services LLC, Term Loan, 6.216%, (1 mo. USD Term SOFR + 2.50%), 2/22/30 | 1,443 | 1,450,119 | |
| Whitewater Matterhorn Holdings LLC, Term Loan, 5.983%, (3 mo. USD Term SOFR + 2.25%), 6/16/32 | 500 | 502,602 | |
| $ 7,877,168 | |||
| Passenger Airlines — 0.0%† | |||
| WestJet Loyalty LP, Term Loan, 6.922%, (3 mo. USD Term SOFR + 3.25%), 2/14/31 | 491 | $ 494,089 | |
| $ 494,089 | |||
| Personal Products — 0.1% | |||
| Rainbow Finco SARL, Term Loan, 5.557%, (6 mo. EURIBOR + 3.50%), 2/23/29 | EUR | 1,000 | $ 1,191,095 |
| $ 1,191,095 | |||
| Pharmaceuticals — 0.5% | |||
| Amneal Pharmaceuticals LLC, Term Loan, 7.216%, (1 mo. USD Term SOFR + 3.50%), 8/1/32 | 549 | $ 554,111 | |
| Bausch Health Cos., Inc., Term Loan, 9.966%, (1 mo. USD Term SOFR + 6.25%), 10/8/30 | 846 | 828,205 | |
| Ceva Sante Animale: | |||
| Term Loan, 5.019%, (3 mo. EURIBOR + 3.00%), 11/8/30 | EUR | 1,500 | 1,783,363 |
| Term Loan, 6.593%, (3 mo. USD Term SOFR + 2.75%), 11/8/30 | 393 | 396,058 | |
| Jazz Financing Lux SARL, Term Loan, 5.966%, (1 mo. USD Term SOFR + 2.25%), 5/5/28 | 1,001 | 1,006,965 | |
| Nidda Healthcare Holding AG, Term Loan, 5.54%, (3 mo. EURIBOR + 3.50%), 12/9/32 | EUR | 750 | 890,214 |
| Recipharm AB, Term Loan, 5.014%, (3 mo. EURIBOR + 2.95%), 2/17/28 | EUR | 1,000 | 1,182,915 |
| $ 6,641,831 | |||
| Professional Services — 2.6% | |||
| AAL Delaware Holdco, Inc., Term Loan, 6.466%, (1 mo. USD Term SOFR + 2.75%), 7/30/31 | 1,462 | $ 1,471,791 | |
| Amspec Parent LLC, Term Loan, 7.172%, (3 mo. USD Term SOFR + 3.50%), 12/22/31 | 1,194 | 1,200,211 | |
| APFS Staffing Holdings, Inc., Term Loan, 7.966% - 8.072%, (1 mo. USD Term SOFR + 4.25%, 3 mo. USD Term SOFR + 4.25%), 12/29/28 | 242 | 219,246 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Professional Services (continued) | |||
| Apleona Holding GmbH, Term Loan, 6.316%, (3 mo. EURIBOR + 4.25%), 9/30/32 | EUR | 1,000 | $ 1,190,871 |
| Beauparc, Term Loan, 5.369%, (6 mo. EURIBOR + 3.25%), 8/24/28 | EUR | 750 | 886,265 |
| Camelot U.S. Acquisition LLC, Term Loan, 6.466%, (1 mo. USD Term SOFR + 2.75%), 1/31/31 | 2,086 | 2,061,870 | |
| Citrin Cooperman Advisors LLC, Term Loan, 6.672%, (3 mo. USD Term SOFR + 3.00%), 4/1/32 | 1,347 | 1,352,234 | |
| CohnReznick LLP: | |||
| Term Loan, 7.172%, (3 mo. USD Term SOFR + 3.50%), 3/31/32 | 623 | 627,038 | |
| Term Loan, 3/31/32(21) | 99 | 99,893 | |
| CoreLogic, Inc., Term Loan, 7.331%, (1 mo. USD Term SOFR + 3.50%), 6/2/28 | 2,005 | 2,009,578 | |
| Corporation Service Co., Term Loan, 5.716%, (1 mo. USD Term SOFR + 2.00%), 11/2/29 | 234 | 234,347 | |
| EAB Global, Inc., Term Loan, 6.716%, (1 mo. USD Term SOFR + 3.00%), 8/16/30 | 221 | 197,105 | |
| Employbridge Holding Co.: | |||
| Term Loan, 9.172%, (3 mo. USD Term SOFR + 5.50%), 1/19/30 | 1,364 | 1,052,498 | |
| Term Loan - Second Lien, 8.684%, (3 mo. USD Term SOFR + 4.75%), 1/19/30 | 2,149 | 432,449 | |
| First Advantage Holdings LLC, Term Loan, 6.466%, (1 mo. USD Term SOFR + 2.75%), 10/31/31 | 2,159 | 2,140,512 | |
| Galaxy Bidco Ltd., Term Loan, 5.867%, (6 mo. EURIBOR + 3.75%), 12/19/29 | EUR | 1,000 | 1,191,994 |
| Grant Thornton Advisors LLC: | |||
| Term Loan, 6.466%, (1 mo. USD Term SOFR + 2.75%), 6/2/31 | 1,976 | 1,982,648 | |
| Term Loan, 6.716%, (1 mo. USD Term SOFR + 3.00%), 6/2/31 | 1,471 | 1,478,934 | |
| Heron Bidco, Term Loan, 7.738%, (3 mo. USD Term SOFR + 4.00%), 12/10/32 | 700 | 694,750 | |
| Highspring Holdings LLC, Term Loan, 8.822%, (3 mo. USD Term SOFR + 5.00%), 1/22/29 | 264 | 216,042 | |
| iSolved, Inc., Term Loan, 6.466%, (1 mo. USD Term SOFR + 2.75%), 10/15/30 | 491 | 493,683 | |
| Mermaid Bidco, Inc.: | |||
| Term Loan, 5.773%, (3 mo. EURIBOR + 3.75%), 7/3/31 | EUR | 1,000 | 1,187,193 |
| Term Loan, 7.151%, (3 mo. USD Term SOFR + 3.25%), 7/3/31 | 1,041 | 1,045,996 | |
| Neptune Bidco U.S., Inc., Term Loan, 9.027%, (3 mo. USD Term SOFR + 5.00%), 4/11/29 | 1,853 | 1,836,059 | |
| PHM Group Holding OYJ, Term Loan, 5.517%, (3 mo. EURIBOR + 3.50%), 4/22/32 | EUR | 500 | 591,566 |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Professional Services (continued) | |||
| Techem Verwaltungsgesellschaft 675 GmbH, Term Loan, 5.255%, (3 mo. EURIBOR + 3.25%), 7/15/32 | EUR | 1,826 | $ 2,167,254 |
| Tempo Acquisition LLC, Term Loan, 5.466%, (1 mo. USD Term SOFR + 1.75%), 8/31/28 | 664 | 640,041 | |
| Trans Union LLC, Term Loan, 5.466%, (1 mo. USD Term SOFR + 1.75%), 6/24/31 | 1,230 | 1,233,571 | |
| Turbo EMEA Holdings BV, Term Loan, 5.151%, (1 mo. EURIBOR + 3.25%), 9/23/32 | EUR | 1,000 | 1,186,364 |
| $ 31,122,003 | |||
| Real Estate Management & Development — 0.4% | |||
| Cushman & Wakefield U.S. Borrower LLC: | |||
| Term Loan, 6.216%, (1 mo. USD Term SOFR + 2.50%), 1/31/30 | 2,524 | $ 2,552,263 | |
| Term Loan, 6.466%, (1 mo. USD Term SOFR + 2.75%), 1/31/30 | 1,044 | 1,052,008 | |
| Greystar Real Estate Partners LLC, Term Loan, 6.322%, (3 mo. USD Term SOFR + 2.50%), 8/21/30 | 587 | 590,271 | |
| Metropolis Technologies, Inc., Term Loan, 8.98%, (6 mo. USD Term SOFR + 5.25%), 11/3/32 | 1,025 | 1,017,313 | |
| $ 5,211,855 | |||
| Road & Rail — 0.3% | |||
| Avis Budget Car Rental LLC, Term Loan, 6.216%, (1 mo. USD Term SOFR + 2.50%), 7/16/32 | 323 | $ 322,567 | |
| Hertz Corp.: | |||
| Term Loan, 7.331%, (1 mo. USD Term SOFR + 3.50%), 6/30/28 | 1,004 | 846,249 | |
| Term Loan, 7.331%, (1 mo. USD Term SOFR + 3.50%), 6/30/28 | 198 | 167,000 | |
| Term Loan, 7.466%, (1 mo. USD Term SOFR + 3.75%), 6/30/28 | 711 | 594,159 | |
| Kenan Advantage Group, Inc., Term Loan, 6.966%, (1 mo. USD Term SOFR + 3.25%), 1/25/29 | 2,144 | 2,129,377 | |
| $ 4,059,352 | |||
| Semiconductors & Semiconductor Equipment — 0.2% | |||
| Bright Bidco BV, Term Loan, 0.00%, 10/31/27(18) | 354 | $ 126,998 | |
| MaxLinear, Inc., Term Loan, 6.086%, (1 mo. USD Term SOFR + 2.25%), 6/23/28 | 286 | 265,714 | |
| MKS Instruments, Inc., Term Loan, 4.401%, (1 mo. EURIBOR + 2.50%), 8/17/29 | EUR | 1,451 | 1,728,766 |
| $ 2,121,478 | |||
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Software — 5.0% | |||
| Applied Systems, Inc., Term Loan, 6.172%, (3 mo. USD Term SOFR + 2.50%), 2/24/31 | 5,028 | $ 5,062,608 | |
| Astra Acquisition Corp.: | |||
| DIP Loan, 12.627%, (3 mo. USD Term SOFR + 8.75%), 4/1/26(21) | 82 | 82,606 | |
| Term Loan, 0.00%, 2/25/28(18) | 607 | 127,568 | |
| Term Loan, 0.00%, 10/25/28(18) | 853 | 3,601 | |
| Term Loan, 0.00%, 10/25/29(18) | 1,278 | 6,452 | |
| Term Loan, 12.735%, (3 mo. USD Term SOFR + 8.75%), 4/1/26 | 34 | 34,466 | |
| Athena BidCo GmbH, Term Loan, 5.768%, (3 mo. EURIBOR + 3.75%), 5/31/32 | EUR | 1,000 | 1,191,911 |
| Avalara, Inc., Term Loan, 6.422%, (3 mo. USD Term SOFR + 2.75%), 3/26/32 | 398 | 400,186 | |
| Boost Newco Borrower LLC: | |||
| Term Loan, 4.269%, (3 mo. EURIBOR + 2.25%), 1/31/31 | EUR | 1,485 | 1,752,622 |
| Term Loan, 5.672%, (3 mo. USD Term SOFR + 2.00%), 1/31/31 | 2,846 | 2,854,316 | |
| Boxer Parent Co., Inc.: | |||
| Term Loan, 5.401%, (1 mo. EURIBOR + 3.50%), 7/30/31 | EUR | 477 | 565,150 |
| Term Loan, 6.822%, (3 mo. USD Term SOFR + 3.00%), 7/30/31 | 2,944 | 2,940,193 | |
| Calabrio, Inc., Term Loan, 7.822%, (3 mo. USD Term SOFR + 4.00%), 11/26/32 | 975 | 921,375 | |
| Cegid Group SAS, Term Loan, 4.816%, (3 mo. EURIBOR + 2.75%), 7/10/28 | EUR | 1,000 | 1,182,809 |
| Cloudera, Inc.: | |||
| Term Loan, 7.566%, (1 mo. USD Term SOFR + 3.75%), 10/8/28 | 2,254 | 2,165,846 | |
| Term Loan - Second Lien, 9.816%, (1 mo. USD Term SOFR + 6.00%), 10/8/29 | 775 | 679,295 | |
| Constant Contact, Inc., Term Loan, 8.166%, (3 mo. USD Term SOFR + 4.00%), 2/10/28 | 1,686 | 1,611,417 | |
| Cornerstone OnDemand, Inc., Term Loan, 7.581%, (1 mo. USD Term SOFR + 3.75%), 10/16/28 | 1,299 | 1,197,660 | |
| Dayforce, Inc., Term Loan, 8/20/32(22) | 1,125 | 1,122,997 | |
| Dragon Buyer, Inc., Term Loan, 6.422%, (3 mo. USD Term SOFR + 2.75%), 9/30/31 | 1,411 | 1,413,522 | |
| Drake Software LLC, Term Loan, 7.922%, (3 mo. USD Term SOFR + 4.25%), 6/26/31 | 1,370 | 1,349,174 | |
| ECI Macola Max Holding LLC, Term Loan, 6.422%, (3 mo. USD Term SOFR + 2.75%), 5/9/30 | 1,384 | 1,393,040 | |
| Epicor Software Corp., Term Loan, 6.216%, (1 mo. USD Term SOFR + 2.50%), 5/30/31 | 2,297 | 2,306,842 | |
| Fiserv Investment Solutions, Inc., Term Loan, 7.889%, (3 mo. USD Term SOFR + 4.00%), 2/18/27 | 496 | 491,660 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Software (continued) | |||
| IGT Holding IV AB, Term Loan, 4.919%, (3 mo. EURIBOR + 2.90%), 3/31/28 | EUR | 1,000 | $ 1,186,112 |
| Marcel LUX IV SARL: | |||
| Term Loan, 5.56%, (3 mo. EURIBOR + 3.50%), 11/12/30 | EUR | 1,500 | 1,789,022 |
| Term Loan, 6.93%, (1 mo. USD Term SOFR + 3.00%), 11/12/30 | 2,013 | 2,025,376 | |
| McAfee LLC: | |||
| Term Loan, 5.566%, (3 mo. EURIBOR + 3.50%), 3/1/29 | EUR | 968 | 1,101,779 |
| Term Loan, 6.716%, (1 mo. USD Term SOFR + 3.00%), 3/1/29 | 2,717 | 2,516,014 | |
| Mosel Bidco SE, Term Loan, 5.768%, (3 mo. EURIBOR + 3.75%), 9/16/30 | EUR | 750 | 892,210 |
| N-Able International Holdings II LLC, Term Loan, 6.585%, (3 mo. USD Term SOFR + 2.75%), 11/26/32 | 175 | 176,969 | |
| OceanKey (U.S.) II Corp., Term Loan, 7.316%, (1 mo. USD Term SOFR + 3.50%), 12/15/28 | 1,567 | 1,547,276 | |
| OID-OL Intermediate I LLC: | |||
| Term Loan, 8.24%, (3 mo. USD Term SOFR + 4.25%), 2/1/29 | 897 | 752,042 | |
| Term Loan, 9.84%, (3 mo. USD Term SOFR + 6.00%), 2/1/29 | 219 | 225,878 | |
| Open Text Corp., Term Loan, 5.466%, (1 mo. USD Term SOFR + 1.75%), 1/31/30 | 831 | 832,976 | |
| Polaris Newco LLC: | |||
| Term Loan, 5.816%, (3 mo. EURIBOR + 3.75%), 6/2/28 | EUR | 958 | 1,071,501 |
| Term Loan, 7.852%, (3 mo. USD Term SOFR + 3.75%), 6/2/28 | 1,633 | 1,578,274 | |
| Project Boost Purchaser LLC, Term Loan, 6.422%, (3 mo. USD Term SOFR + 2.75%), 7/16/31 | 1,115 | 1,119,189 | |
| Proofpoint, Inc., Term Loan, 6.672%, (3 mo. USD Term SOFR + 3.00%), 8/31/28 | 2,401 | 2,417,324 | |
| Quartz Acquireco LLC, Term Loan, 5.922%, (3 mo. USD Term SOFR + 2.25%), 6/28/30 | 733 | 733,125 | |
| RealPage, Inc.: | |||
| Term Loan, 6.934%, (3 mo. USD Term SOFR + 3.00%), 4/24/28 | 2,753 | 2,753,872 | |
| Term Loan, 7.422%, (3 mo. USD Term SOFR + 3.75%), 4/24/28 | 447 | 448,626 | |
| Rocket Software, Inc., Term Loan, 7.466%, (1 mo. USD Term SOFR + 3.75%), 11/28/28 | 224 | 224,108 | |
| Sabre GLBL, Inc.: | |||
| Term Loan, 9.816%, (1 mo. USD Term SOFR + 6.00%), 11/15/29 | 530 | 471,397 | |
| Term Loan, 10.066%, (1 mo. USD Term SOFR + 6.25%), 7/30/29 | 101 | 90,893 | |
| SolarWinds Holdings, Inc., Term Loan, 7.701%, (3 mo. USD Term SOFR + 4.00%), 4/16/32 | 2,045 | 2,046,153 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Software (continued) | |||
| UKG, Inc., Term Loan, 6.338%, (3 mo. USD Term SOFR + 2.50%), 2/10/31 | 4,182 | $ 4,190,721 | |
| Vision Solutions, Inc., Term Loan, 8.102%, (3 mo. USD Term SOFR + 4.00%), 4/24/28 | 408 | 380,726 | |
| $ 61,428,879 | |||
| Specialty Retail — 1.0% | |||
| Applegreen Ireland, Term Loan, 6.566%, (3 mo. EURIBOR + 4.50%), 1/30/32 | EUR | 500 | $ 593,770 |
| Apro LLC, Term Loan, 7.677%, (3 mo. USD Term SOFR + 3.75%), 7/9/31 | 593 | 596,203 | |
| Boels Topholding BV, Term Loan, 4.685%, (1 mo. EURIBOR + 2.75%), 5/23/31 | EUR | 862 | 1,023,989 |
| EG America LLC, Term Loan, 5.937%, (6 mo. EURIBOR + 3.88%), 2/7/28 | EUR | 434 | 514,612 |
| Great Outdoors Group LLC, Term Loan, 6.966%, (1 mo. USD Term SOFR + 3.25%), 1/23/32 | 2,329 | 2,345,666 | |
| Harbor Freight Tools USA, Inc., Term Loan, 5.966%, (1 mo. USD Term SOFR + 2.25%), 6/11/31 | 2,321 | 2,301,573 | |
| Homeserve USA Holding Corp., Term Loan, 5.734%, (1 mo. USD Term SOFR + 2.00%), 10/21/30 | 884 | 887,018 | |
| Les Schwab Tire Centers, Term Loan, 6.216% - 6.322%, (1 mo. USD Term SOFR + 2.50%, 3 mo. USD Term SOFR + 2.50%), 4/23/31 | 1,580 | 1,583,875 | |
| Speedster Bidco GmbH: | |||
| Term Loan, 5.373%, (3 mo. EURIBOR + 3.25%), 12/10/31 | EUR | 1,000 | 1,185,483 |
| Term Loan, 6.689%, (3 mo. USD Term SOFR + 3.00%), 12/11/31 | 844 | 846,804 | |
| $ 11,878,993 | |||
| Technology Hardware, Storage & Peripherals — 0.0%† | |||
| Poseidon Bidco SASU, Term Loan, 7.018%, (3 mo. EURIBOR + 5.00%), 3/13/30 | EUR | 675 | $ 286,708 |
| $ 286,708 | |||
| Trading Companies & Distributors — 1.1% | |||
| CD&R Hydra Buyer, Inc., Term Loan, 7.816%, (1 mo. USD Term SOFR + 4.00%), 3/25/31 | 835 | $ 835,960 | |
| Core & Main LP, Term Loan, 5.69%, (3 mo. USD Term SOFR + 2.00%), 2/9/31 | 368 | 369,617 | |
| DXP Enterprises, Inc., Term Loan, 6.966%, (1 mo. USD Term SOFR + 3.25%), 10/11/30 | 660 | 666,513 | |
| Kodiak Building Partners, Inc., Term Loan, 7.466%, (1 mo. USD Term SOFR + 3.75%), 12/4/31 | 1,072 | 1,048,180 | |
| Paint Intermediate III LLC, Term Loan, 6.87%, (3 mo. USD Term SOFR + 3.00%), 10/9/31 | 871 | 876,781 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Trading Companies & Distributors (continued) | |||
| PEARLS (Netherlands) Bidco BV, Term Loan, 5.566%, (3 mo. EURIBOR + 3.50%), 2/26/29 | EUR | 1,000 | $ 1,071,947 |
| Quimper AB, Term Loan, 5.859%, (6 mo. EURIBOR + 3.75%), 3/29/30 | EUR | 1,875 | 2,234,184 |
| Ramudden Global Group GmbH, Term Loan, 5.394%, (1 mo. EURIBOR + 3.50%), 12/10/29 | EUR | 1,000 | 1,186,629 |
| Spin Holdco, Inc., Term Loan, 8.022%, (3 mo. USD Term SOFR + 4.00%), 3/4/28 | 2,237 | 1,736,091 | |
| White Cap Buyer LLC, Term Loan, 6.966%, (1 mo. USD Term SOFR + 3.25%), 10/19/29 | 1,597 | 1,605,668 | |
| Windsor Holdings III LLC: | |||
| Term Loan, 4.651%, (1 mo. EURIBOR + 2.75%), 8/1/30 | EUR | 500 | 589,192 |
| Term Loan, 6.466%, (1 mo. USD Term SOFR + 2.75%), 8/1/30 | 1,125 | 1,128,675 | |
| $ 13,349,437 | |||
| Transportation Infrastructure — 0.1% | |||
| Brown Group Holding LLC: | |||
| Term Loan, 6.216%, (1 mo. USD Term SOFR + 2.50%), 7/1/31 | 216 | $ 217,522 | |
| Term Loan, 6.466% - 6.59%, (1 mo. USD Term SOFR + 2.75%, 3 mo. USD Term SOFR + 2.75%), 7/1/31 | 640 | 644,098 | |
| KKR Apple Bidco LLC, Term Loan, 6.216%, (1 mo. USD Term SOFR + 2.50%), 9/23/31 | 168 | 169,109 | |
| $ 1,030,729 | |||
| Total Senior Floating-Rate Loans (identified cost $499,313,030) | $ 494,299,443 | ||
| Sovereign Government Bonds — 5.5% |
| Security | Principal Amount* (000's omitted) | Value | |
| Albania — 0.0%† | |||
| Albania Government International Bonds: | |||
| 3.50%, 11/23/31(14) | EUR | 200 | $ 233,853 |
| 4.75%, 2/14/35(14) | EUR | 200 | 238,362 |
| $ 472,215 | |||
| Angola — 0.2% | |||
| Angola Government International Bonds: | |||
| 8.00%, 11/26/29(14) | 200 | $ 195,544 | |
| 8.75%, 4/14/32(14) | 250 | 243,902 | |
| 9.125%, 11/26/49(14) | 600 | 515,712 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Angola (continued) | |||
| Angola Government International Bonds: (continued) | |||
| 9.375%, 5/8/48(14) | 200 | $ 176,419 | |
| Angolan Government International Bonds: | |||
| 9.244%, 1/15/31(14) | 426 | 429,072 | |
| 9.875%, 10/15/35(14) | 1,135 | 1,124,617 | |
| $ 2,685,266 | |||
| Argentina — 0.2% | |||
| Argentina Republic Government International Bonds: | |||
| 0.75% to 7/9/27, 7/9/30(4) | 800 | $ 682,000 | |
| 1.00%, 7/9/29 | 80 | 71,280 | |
| 3.50% to 7/9/29, 7/9/41(4) | 400 | 277,800 | |
| 4.125% to 7/9/27, 7/9/35(4) | 800 | 597,200 | |
| 5.00%, 1/9/38 | 600 | 467,100 | |
| Provincia de Cordoba 9.75%, 7/2/32(1)(14) | 436 | 459,653 | |
| $ 2,555,033 | |||
| Armenia — 0.0%† | |||
| Republic of Armenia International Bonds, 6.75%, 3/12/35(14) | 200 | $ 208,369 | |
| $ 208,369 | |||
| Azerbaijan — 0.0%† | |||
| Republic of Azerbaijan International Bonds, 3.50%, 9/1/32(14) | 240 | $ 225,905 | |
| $ 225,905 | |||
| Benin — 0.1% | |||
| Benin Government International Bonds: | |||
| 4.875%, 1/19/32(14) | EUR | 152 | $ 171,716 |
| 6.875%, 1/19/52(14) | EUR | 369 | 394,485 |
| 7.96%, 2/13/38(14) | 200 | 207,764 | |
| 8.375%, 1/23/41(14) | 200 | 210,076 | |
| $ 984,041 | |||
| Brazil — 0.2% | |||
| Brazil Government International Bonds: | |||
| 3.875%, 6/12/30 | 900 | $ 861,030 | |
| 5.00%, 1/27/45 | 800 | 643,760 | |
| 6.625%, 3/15/35 | 800 | 825,560 | |
| $ 2,330,350 | |||
| Security | Principal Amount* (000's omitted) | Value | |
| Bulgaria — 0.0%† | |||
| Bulgaria Government International Bonds, 5.00%, 3/5/37(14) | 120 | $ 119,914 | |
| $ 119,914 | |||
| Chile — 0.2% | |||
| Chile Government International Bonds: | |||
| 2.55%, 7/27/33 | 1,200 | $ 1,041,480 | |
| 3.50%, 1/25/50 | 800 | 587,960 | |
| 4.95%, 1/5/36 | 500 | 505,325 | |
| $ 2,134,765 | |||
| Colombia — 0.2% | |||
| Colombia Government International Bonds: | |||
| 3.125%, 4/15/31 | 400 | $ 347,600 | |
| 4.125%, 5/15/51 | 600 | 372,900 | |
| 7.75%, 11/7/36 | 800 | 835,320 | |
| 8.00%, 11/14/35 | 468 | 499,824 | |
| $ 2,055,644 | |||
| Congo — 0.1% | |||
| Congolese International Bonds, 9.875%, 11/7/32(14) | 1,500 | $ 1,349,058 | |
| $ 1,349,058 | |||
| Costa Rica — 0.1% | |||
| Costa Rica Government International Bonds: | |||
| 6.55%, 4/3/34(14) | 550 | $ 601,219 | |
| 7.158%, 3/12/45(14) | 200 | 221,700 | |
| $ 822,919 | |||
| Dominican Republic — 0.2% | |||
| Dominican Republic International Bonds: | |||
| 4.50%, 1/30/30(14) | 700 | $ 685,300 | |
| 4.875%, 9/23/32(14) | 500 | 482,350 | |
| 5.30%, 1/21/41(14) | 300 | 272,550 | |
| 6.85%, 1/27/45(14) | 400 | 417,560 | |
| 7.45%, 4/30/44(14) | 300 | 331,785 | |
| $ 2,189,545 | |||
| Ecuador — 0.2% | |||
| Ecuador Government International Bonds: | |||
| 0.00%, 7/31/30(14) | 916 | $ 780,693 | |
| 6.90%, 7/31/30(14) | 1,123 | 1,111,490 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Ecuador (continued) | |||
| Ecuador Government International Bonds: (continued) | |||
| 6.90%, 7/31/35(14) | 360 | $ 318,420 | |
| $ 2,210,603 | |||
| Egypt — 0.3% | |||
| Egypt Government International Bonds: | |||
| 5.625%, 4/16/30(14) | EUR | 400 | $ 469,888 |
| 5.875%, 2/16/31(14) | 200 | 200,616 | |
| 6.375%, 4/11/31(14) | EUR | 400 | 483,754 |
| 7.30%, 9/30/33(14) | 200 | 206,166 | |
| 7.903%, 2/21/48(14) | 481 | 448,248 | |
| 8.50%, 1/31/47(14) | 478 | 470,313 | |
| 8.625%, 2/4/30(14) | 314 | 349,326 | |
| 8.75%, 9/30/51(14) | 352 | 353,193 | |
| 8.875%, 5/29/50(14) | 548 | 556,872 | |
| $ 3,538,376 | |||
| El Salvador — 0.1% | |||
| El Salvador Government International Bonds: | |||
| 7.65%, 6/15/35(14) | 100 | $ 104,200 | |
| 8.25%, 4/10/32(14) | 230 | 248,745 | |
| 9.65%, 11/21/54(1) | 252 | 289,170 | |
| $ 642,115 | |||
| Ethiopia — 0.1% | |||
| Ethiopia International Bonds, 6.625%, 12/11/24(14)(18) | 1,374 | $ 1,478,369 | |
| $ 1,478,369 | |||
| Gabon — 0.0%† | |||
| Gabon Government International Bonds, 6.625%, 2/6/31(14) | 200 | $ 155,652 | |
| $ 155,652 | |||
| Ghana — 0.1% | |||
| Ghana Government International Bonds: | |||
| 5.00% to 7/3/28, 7/3/29(4)(14) | 209 | $ 205,533 | |
| 5.00% to 7/3/28, 7/3/35(4)(14) | 500 | 458,967 | |
| $ 664,500 | |||
| Guatemala — 0.1% | |||
| Guatemala Government Bonds: | |||
| 3.70%, 10/7/33(14) | 200 | $ 179,575 | |
| 5.375%, 4/24/32(14) | 330 | 334,290 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Guatemala (continued) | |||
| Guatemala Government Bonds: (continued) | |||
| 6.55%, 2/6/37(14) | 400 | $ 429,600 | |
| $ 943,465 | |||
| Honduras — 0.0%† | |||
| Honduras Government International Bonds, 8.625%, 11/27/34(14) | 200 | $ 225,310 | |
| $ 225,310 | |||
| Hungary — 0.2% | |||
| Hungary Government International Bonds: | |||
| 2.125%, 9/22/31(14) | 400 | $ 345,501 | |
| 5.25%, 6/16/29(14) | 200 | 204,288 | |
| 5.50%, 3/26/36(14) | 800 | 800,202 | |
| 6.25%, 9/22/32(14) | 700 | 747,890 | |
| $ 2,097,881 | |||
| India — 0.1% | |||
| Export-Import Bank of India: | |||
| 2.25%, 1/13/31(14) | 600 | $ 541,380 | |
| 5.50%, 1/18/33(1) | 230 | 241,244 | |
| $ 782,624 | |||
| Iraq — 0.0%† | |||
| Iraq International Bonds, 5.80%, 1/15/28(14) | 78 | $ 77,889 | |
| $ 77,889 | |||
| Israel — 0.0%† | |||
| State of Israel, 3.80%, 5/13/60(14) | 620 | $ 419,979 | |
| $ 419,979 | |||
| Ivory Coast — 0.0%† | |||
| Ivory Coast Government International Bonds, 8.25%, 1/30/37(14) | 491 | $ 534,881 | |
| $ 534,881 | |||
| Jamaica — 0.0%† | |||
| Jamaica Government International Bonds, 8.00%, 3/15/39 | 400 | $ 484,000 | |
| $ 484,000 | |||
| Security | Principal Amount* (000's omitted) | Value | |
| Jordan — 0.0%† | |||
| Jordan Government International Bonds, 5.85%, 7/7/30(14) | 468 | $ 472,798 | |
| $ 472,798 | |||
| Kazakhstan — 0.0%† | |||
| Kazakhstan Government International Bonds, 4.714%, 4/9/35(14) | 500 | $ 496,803 | |
| $ 496,803 | |||
| Kenya — 0.1% | |||
| Republic of Kenya Government International Bonds: | |||
| 8.25%, 2/28/48(14) | 200 | $ 189,039 | |
| 9.50%, 3/5/36(14) | 400 | 427,303 | |
| $ 616,342 | |||
| Lebanon — 0.1% | |||
| Lebanon Government International Bonds: | |||
| 5.80%, 4/14/20(14)(18) | 683 | $ 159,868 | |
| 6.00%, 1/27/23(14)(18) | 196 | 45,813 | |
| 6.10%, 10/4/22(14)(18) | 538 | 126,005 | |
| 6.15%, 6/19/20(14)(18) | 23 | 5,407 | |
| 6.20%, 2/26/25(14)(18) | 125 | 29,299 | |
| 6.25%, 5/27/22(14)(18) | 91 | 21,403 | |
| 6.25%, 11/4/24(14)(18) | 102 | 23,902 | |
| 6.25%, 6/12/25(14)(18) | 44 | 10,355 | |
| 6.375%, 3/9/20(14)(18) | 858 | 200,836 | |
| 6.40%, 5/26/23(14)(18) | 879 | 205,818 | |
| 6.60%, 11/27/26(14)(18) | 25 | 5,861 | |
| 6.65%, 4/22/24(14)(18) | 235 | 55,098 | |
| 6.65%, 11/3/28(14)(18) | 32 | 7,554 | |
| 6.85%, 3/23/27(14)(18) | 29 | 6,781 | |
| 6.85%, 5/25/29(14)(18) | 383 | 90,091 | |
| 7.00%, 3/20/28(14)(18) | 146 | 34,310 | |
| 7.00%, 4/22/31(14)(18) | 196 | 45,734 | |
| 7.00%, 3/23/32(14)(18) | 63 | 14,934 | |
| 7.25%, 3/23/37(14)(18) | 60 | 14,239 | |
| 8.25%, 4/12/21(14)(18) | 35 | 8,158 | |
| $ 1,111,466 | |||
| Mexico — 0.2% | |||
| Mexico Government International Bonds: | |||
| 3.25%, 4/16/30 | 500 | $ 473,188 | |
| 4.875%, 5/19/33 | 800 | 770,000 | |
| 5.00%, 4/27/51 | 800 | 645,200 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Mexico (continued) | |||
| Mexico Government International Bonds: (continued) | |||
| 6.00%, 5/7/36 | 400 | $ 406,300 | |
| $ 2,294,688 | |||
| Mongolia — 0.0%† | |||
| Mongolia Government International Bonds, 6.625%, 2/25/30(14) | 400 | $ 410,902 | |
| $ 410,902 | |||
| Montenegro — 0.1% | |||
| Montenegro Government International Bonds, 4.875%, 4/1/32(14) | EUR | 829 | $ 986,460 |
| $ 986,460 | |||
| Morocco — 0.0%† | |||
| Morocco Government International Bonds, 3.00%, 12/15/32(14) | 365 | $ 321,715 | |
| $ 321,715 | |||
| Nigeria — 0.1% | |||
| Nigeria Government International Bonds: | |||
| 7.696%, 2/23/38(14) | 300 | $ 300,508 | |
| 8.747%, 1/21/31(14) | 200 | 218,197 | |
| 10.375%, 12/9/34(14) | 920 | 1,093,412 | |
| $ 1,612,117 | |||
| Oman — 0.2% | |||
| Oman Government International Bonds: | |||
| 5.375%, 3/8/27(14) | 200 | $ 202,178 | |
| 6.00%, 8/1/29(14) | 400 | 419,734 | |
| 6.25%, 1/25/31(14) | 483 | 517,466 | |
| 6.75%, 1/17/48(14) | 230 | 253,833 | |
| 7.375%, 10/28/32(14) | 650 | 747,790 | |
| $ 2,141,001 | |||
| Pakistan — 0.1% | |||
| Pakistan Government International Bonds: | |||
| 6.875%, 12/5/27(14) | 200 | $ 201,947 | |
| 7.375%, 4/8/31(14) | 400 | 398,611 | |
| $ 600,558 | |||
| Panama — 0.2% | |||
| Panama Government International Bonds: | |||
| 3.16%, 1/23/30 | 400 | $ 375,640 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Panama (continued) | |||
| Panama Government International Bonds: (continued) | |||
| 4.50%, 4/1/56 | 600 | $ 451,770 | |
| 6.40%, 2/14/35 | 800 | 845,680 | |
| 7.50%, 3/1/31 | 200 | 222,220 | |
| $ 1,895,310 | |||
| Paraguay — 0.0%† | |||
| Paraguay Government International Bonds, 4.95%, 4/28/31(14) | 577 | $ 586,665 | |
| $ 586,665 | |||
| Peru — 0.1% | |||
| Peru Government International Bonds: | |||
| 3.00%, 1/15/34 | 1,200 | $ 1,046,220 | |
| 3.30%, 3/11/41 | 700 | 542,220 | |
| 5.875%, 8/8/54 | 200 | 198,660 | |
| $ 1,787,100 | |||
| Philippines — 0.2% | |||
| Philippines Government International Bonds: | |||
| 4.75%, 3/5/35 | 600 | $ 602,595 | |
| 5.00%, 7/17/33 | 900 | 925,326 | |
| 5.50%, 1/17/48 | 500 | 501,765 | |
| $ 2,029,686 | |||
| Romania — 0.4% | |||
| Romania Government International Bonds: | |||
| 1.75%, 7/13/30(14) | EUR | 57 | $ 60,634 |
| 2.00%, 4/14/33(14) | EUR | 47 | 45,044 |
| 2.625%, 12/2/40(14) | EUR | 248 | 193,265 |
| 2.75%, 4/14/41(14) | EUR | 45 | 35,244 |
| 2.875%, 4/13/42(14) | EUR | 50 | 39,007 |
| 3.375%, 1/28/50(14) | EUR | 28 | 21,212 |
| 3.875%, 10/29/35(14) | EUR | 361 | 370,790 |
| 4.625%, 4/3/49(14) | EUR | 257 | 238,513 |
| 5.125%, 6/15/48(14) | 28 | 23,134 | |
| 5.625%, 2/22/36(14) | EUR | 85 | 98,998 |
| 5.75%, 3/24/35(14) | 1,346 | 1,336,853 | |
| 5.875%, 7/11/32(14) | EUR | 111 | 136,506 |
| 6.00%, 5/25/34(14) | 28 | 28,468 | |
| 6.00%, 9/24/44(14) | EUR | 240 | 272,323 |
| 6.125%, 10/7/37(14) | EUR | 440 | 521,049 |
| 6.25%, 9/10/34(14) | EUR | 58 | 71,757 |
| 6.50%, 10/7/45(14) | EUR | 310 | 363,764 |
| Security | Principal Amount* (000's omitted) | Value | |
| Romania (continued) | |||
| Romania Government International Bonds: (continued) | |||
| 6.75%, 7/11/39(14) | EUR | 281 | $ 343,777 |
| 7.50%, 2/10/37(14) | 648 | 718,405 | |
| 7.625%, 1/17/53(14) | 56 | 61,732 | |
| $ 4,980,475 | |||
| Serbia — 0.0%† | |||
| Serbia International Bonds, 2.125%, 12/1/30(14) | 450 | $ 394,035 | |
| $ 394,035 | |||
| Sri Lanka — 0.1% | |||
| Sri Lanka Government International Bonds: | |||
| 3.10% to 7/15/27, 1/15/30(1)(4) | 132 | $ 125,806 | |
| 3.35% to 9/15/27, 3/15/33(1)(4) | 123 | 105,981 | |
| 3.60% to 12/15/27, 6/15/35(1)(4) | 57 | 43,544 | |
| 3.60% to 11/15/27, 5/15/36(1)(4) | 120 | 109,326 | |
| 3.60% to 8/15/27, 2/15/38(1)(4)(14) | 318 | 290,814 | |
| 4.00%, 4/15/28(1) | 128 | 122,644 | |
| $ 798,115 | |||
| Suriname — 0.2% | |||
| Suriname Government International Bonds: | |||
| 7.70%, 11/6/30(1) | 278 | $ 287,383 | |
| 8.50%, 11/6/35(1) | 1,171 | 1,269,071 | |
| 9.00%, Oil-Linked, 12/31/50(1)(14) | 677 | 819,170 | |
| $ 2,375,624 | |||
| Trinidad and Tobago — 0.0%† | |||
| Trinidad & Tobago Government International Bonds, 5.95%, 1/14/31(14) | 300 | $ 307,200 | |
| $ 307,200 | |||
| Ukraine — 0.3% | |||
| Ukraine Government International Bonds: | |||
| 0.00% to 2/1/27, 2/1/30(4)(14) | 17 | $ 10,011 | |
| 0.00% to 2/1/27, 2/1/34(4)(14) | 250 | 119,165 | |
| 0.00% to 2/1/27, 2/1/35(4)(14) | 151 | 85,581 | |
| 0.00% to 2/1/27, 2/1/36(4)(14) | 154 | 87,539 | |
| 4.00% to 2/1/27, 2/1/32(4)(14) | 3,090 | 2,347,942 | |
| 4.50% to 2/1/27, 2/1/29(4)(14) | 180 | 135,003 | |
| 4.50% to 2/1/27, 2/1/34(4)(14) | 495 | 304,150 | |
| 4.50% to 2/1/27, 2/1/35(4)(14) | 645 | 389,103 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Ukraine (continued) | |||
| Ukraine Government International Bonds: (continued) | |||
| 4.50% to 2/1/27, 2/1/36(4)(14) | 319 | $ 189,090 | |
| $ 3,667,584 | |||
| United Arab Emirates — 0.2% | |||
| Abu Dhabi Government International Bonds: | |||
| 3.125%, 4/16/30(14) | 600 | $ 582,580 | |
| 3.875%, 4/16/50(14) | 600 | 483,365 | |
| 5.00%, 4/30/34(14) | 700 | 738,050 | |
| Finance Department Government of Sharjah, 3.625%, 3/10/33(14) | 200 | 178,728 | |
| Sharjah Sukuk Program Ltd., 3.886%, 4/4/30(14) | 200 | 193,216 | |
| $ 2,175,939 | |||
| Uruguay — 0.1% | |||
| Uruguay Government International Bonds: | |||
| 5.10%, 6/18/50 | 400 | $ 378,580 | |
| 5.442%, 2/14/37 | 1,200 | 1,249,260 | |
| $ 1,627,840 | |||
| Uzbekistan — 0.0%† | |||
| Republic of Uzbekistan International Bonds, 5.375%, 2/20/29(14) | 300 | $ 302,016 | |
| $ 302,016 | |||
| Venezuela — 0.1% | |||
| Venezuela Government International Bonds: | |||
| 6.00%, 12/9/20(14)(18) | 316 | $ 84,214 | |
| 7.00%, 12/1/18(14)(18) | 175 | 47,031 | |
| 7.00%, 3/31/38(14)(18) | 100 | 29,650 | |
| 7.65%, 4/21/25(14)(18) | 351 | 99,684 | |
| 7.75%, 10/13/19(14)(18) | 247 | 66,416 | |
| 8.25%, 10/13/24(14)(18) | 381 | 108,147 | |
| 9.00%, 5/7/23(14)(18) | 285 | 80,982 | |
| 9.25%, 9/15/27(18) | 409 | 136,504 | |
| 9.25%, 5/7/28(14)(18) | 160 | 51,104 | |
| 9.375%, 1/13/34(18) | 49 | 16,415 | |
| 11.75%, 10/21/26(14)(18) | 158 | 51,850 | |
| 11.95%, 8/5/31(14)(18) | 224 | 73,597 | |
| 12.75%, 8/23/22(14)(18) | 357 | 113,086 | |
| 13.625%, 8/15/18(14)(18) | 89 | 29,593 | |
| $ 988,273 | |||
| Security | Principal Amount* (000's omitted) | Value | |
| Zambia — 0.0%† | |||
| Zambia Government International Bonds, 5.75% to 6/30/31, 6/30/33(4)(14) | 100 | $ 99,138 | |
| $ 99,138 | |||
| Total Sovereign Government Bonds (identified cost $62,364,238) | $ 67,468,518 | ||
| Sovereign Loans — 0.2% |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Argentina — 0.0%† | |||
| Provincia De Neuquen, Term Loan, 11.142%, (1 mo. USD Term SOFR + 7.30%), 5/28/27 | 107 | $ 108,509 | |
| $ 108,509 | |||
| Bahamas — 0.1% | |||
| Commonwealth of the Bahamas, Term Loan, 8.969%, (6 mo. EURIBOR + 6.85%), 11/24/28(2) | EUR | 495 | $ 599,292 |
| $ 599,292 | |||
| Tanzania — 0.1% | |||
| Government of the United Republic of Tanzania, Term Loan, 10.42%, (6 mo. USD Term SOFR + 6.30%), 4/28/31(2) | 1,519 | $ 1,515,730 | |
| $ 1,515,730 | |||
| Total Sovereign Loans (identified cost $2,168,807) | $ 2,223,531 | ||
| U.S. Government Agency Mortgage-Backed Securities — 15.1% |
| Security | Principal Amount (000's omitted) | Value | |
| Federal Home Loan Mortgage Corp.: | |||
| 5.50%, 5/1/32 | $ | 126 | $ 129,851 |
| 6.50%, 6/17/28 | 3 | 2,688 | |
| 7.00%, 10/17/27 | 2 | 1,837 | |
| 7.50%, with various maturities to 2035 | 184 | 193,514 | |
| 8.00%, with various maturities to 2030 | 1 | 1,286 | |
| 9.00%, 1/17/31 | 5 | 5,451 | |
| Federal National Mortgage Association: | |||
| 4.50%, 7/1/42 | 2,111 | 2,112,104 | |
| Security | Principal Amount (000's omitted) | Value | |
| Federal National Mortgage Association: (continued) | |||
| 4.555%, (COF + 1.33%), 10/1/36(24) | $ | 215 | $ 209,722 |
| 5.00%, with various maturities to 2040 | 2,013 | 2,051,620 | |
| 5.50%, 6/1/33 | 179 | 184,795 | |
| 6.00%, 5/1/29 | 33 | 34,229 | |
| 6.084%, (6 mo. RFUCCT + 1.563%), 9/1/37(24) | 299 | 306,328 | |
| 6.338%, (1 yr. CMT + 2.291%), 8/1/36(24) | 1,397 | 1,429,170 | |
| 6.353%, (COF + 2.004%), 7/1/32(24) | 255 | 259,889 | |
| 6.50%, with various maturities to 2031 | 6 | 5,811 | |
| 7.00%, with various maturities to 2029 | 64 | 64,871 | |
| 7.50%, with various maturities to 2035 | 332 | 351,713 | |
| 8.00%, with various maturities to 2027 | 2 | 2,764 | |
| 8.325%, 9/20/28 | 1 | 615 | |
| 8.451%, 10/15/29 | 0(25) | 152 | |
| 8.50%, 12/1/37 | 48 | 50,024 | |
| 9.00%, 2/1/32 | 21 | 21,642 | |
| Government National Mortgage Association: | |||
| 3.00%, 30-Year, TBA(26) | 14,200 | 12,762,850 | |
| 4.00%, 9/20/49 | 208 | 198,005 | |
| 4.50%, with various maturities to 2052 | 2,212 | 2,175,078 | |
| 5.00%, 6/20/52 | 12,089 | 12,156,170 | |
| 5.50%, with various maturities to 2054 | 17,576 | 17,930,238 | |
| 6.00%, with various maturities to 2054 | 12,762 | 13,228,542 | |
| 6.50%, with various maturities to 2054 | 5,295 | 5,552,526 | |
| 7.00%, with various maturities to 2054 | 63 | 64,649 | |
| 7.50%, 8/15/32 | 222 | 229,985 | |
| 8.00%, with various maturities to 2054 | 538 | 553,649 | |
| Uniform Mortgage-Backed Security: | |||
| 3.00%, 30-Year, TBA(26) | 10,000 | 8,840,094 | |
| 5.00%, 30-Year, TBA(26) | 47,000 | 46,889,844 | |
| 5.50%, 30-Year, TBA(26) | 55,300 | 56,079,815 | |
| Total U.S. Government Agency Mortgage-Backed Securities (identified cost $183,710,045) | $ 184,081,521 | ||
| Warrants — 0.0% |
| Security | Shares | Value | |
| Consumer Staples Distribution & Retail — 0.0% | |||
| Casino Guichard Perrachon SA, Exp. 4/27/29(11) | 32,288 | $ 0 | |
| Total Warrants (identified cost $0) | $ 0 | ||
| Miscellaneous — 0.0%† |
| Security | Principal Amount/ Shares | Value | |
| Cable and Satellite Television — 0.0% | |||
| ACC Claims Holdings LLC(8) | 2,257,600 | $ 0 | |
| $ 0 | |||
| Energy — 0.0% | |||
| Enviva LLC, Escrow Certificates(8)(11) | $ | 1,391,000 | $ 0 |
| $ 0 | |||
| Engineering & Construction — 0.0% | |||
| Abengoa Abenewco 2 SA, Escrow Certificates(1)(8)(11) | $ | 377,752 | $ 0 |
| Abengoa Abenewco 2 SA, Escrow Certificates(1)(8)(11) | 377,752 | 0 | |
| $ 0 | |||
| Entertainment — 0.0% | |||
| National CineMedia, Inc., Escrow Certificates(8)(11) | $ | 1,186,000 | $ 0 |
| $ 0 | |||
| Surface Transport — 0.0%† | |||
| Hertz Corp., Escrow Certificates(11) | $ | 364,000 | $ 73,710 |
| $ 73,710 | |||
| Total Miscellaneous (identified cost $0) | $ 73,710 | ||
| Short-Term Investments — 2.2% |
| Affiliated Fund — 1.2% |
| Security | Shares | Value | |
| Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 3.69%(27) | 14,702,186 | $ 14,702,186 | |
| Total Affiliated Fund (identified cost $14,702,186) | $ 14,702,186 | ||
| U.S. Treasury Obligations — 1.0% |
| Security | Principal Amount (000's omitted) | Value | |
| U.S. Treasury Bills: | |||
| 0.00%, 1/8/26(28) | $ | 169 | $ 168,902 |
| 0.00%, 2/12/26(28) | 164 | 163,331 | |
| 0.00%, 3/5/26(28) | 167 | 165,987 | |
| 0.00%, 3/10/26(28) | 3,085 | 3,065,073 | |
| 0.00%, 4/2/26(28) | 8,670 | 8,593,085 | |
| Total U.S. Treasury Obligations (identified cost $12,150,158) | $ 12,156,378 | ||
| Total Short-Term Investments (identified cost $26,852,344) | $ 26,858,564 | ||
| Total Investments — 172.1% (identified cost $2,115,121,553) | $ 2,099,066,624 | ||
| Less Unfunded Loan Commitments — (0.2)% | $ (2,545,350) | ||
| Net Investments — 171.9% (identified cost $2,112,576,203) | $ 2,096,521,274 | ||
| TBA Sale Commitments — (1.8)% | |||
| U.S. Government Agency Mortgage-Backed Securities — (1.8)% |
| Security | Principal Amount (000's omitted) | Value | |
| Government National Mortgage Association: | |||
| 3.00%, 30-Year, TBA(26) | $ | (4,200) | $ (3,768,180) |
| 3.00%, 30-Year, TBA(26) | (10,000) | (8,991,389) | |
| 3.00%, 30-Year, TBA(26) | (10,000) | (8,979,670) | |
| Total U.S. Government Agency Mortgage-Backed Securities (proceeds $21,795,324) | $ (21,739,239) | ||
| Total TBA Sale Commitments (proceeds $21,795,324) | $ (21,739,239) | ||
| Other Assets, Less Liabilities — (87.8)% | $(1,071,163,795) | ||
| Auction Preferred Shares Plus Cumulative Unpaid Dividends — 17.7% | $ 216,126,904 | ||
| Net Assets Applicable to Common Shares — 100.0% | $ 1,219,745,144 | ||
| The percentage shown for each investment category in the Portfolio of Investments is based on net assets applicable to common shares. | |
| † | Amount is less than 0.05% or (0.05)%, as applicable. |
| * | In U.S. dollars unless otherwise indicated. |
| (1) | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At December 31, 2025, the aggregate value of these securities is $763,638,125 or 62.6% of the Fund's net assets applicable to common shares. |
| (2) | Variable rate security. The stated interest rate represents the rate in effect at December 31, 2025. |
| (3) | Weighted average fixed-rate coupon that changes/updates monthly. Rate shown is the rate at December 31, 2025. |
| (4) | Step coupon security. Interest rate represents the rate in effect at December 31, 2025. |
| (5) | Inverse floating-rate security whose coupon varies inversely with changes in the interest rate index. The stated interest rate represents the coupon rate in effect at December 31, 2025. |
| (6) | Interest only security that entitles the holder to receive only interest payments on the underlying mortgages. Principal amount shown is the notional amount of the underlying mortgages on which coupon interest is calculated. |
| (7) | Principal only security that entitles the holder to receive only principal payments on the underlying mortgages. |
| (8) | Security is valued using significant unobservable inputs and is categorized as Level 3 in the fair value hierarchy. |
| (9) | Includes a non-economic companion Class ELP Certificate with no stated principal amount and zero fair value as of December 31, 2025. Class ELP Certificates are entitled only to the excess liquidation proceeds in the event of the liquidation of the Trust. |
| (10) | Represents an investment in an issuer that may be deemed to be an affiliate. |
| (11) | Non-income producing security. |
| (12) | Security was acquired in connection with a restructuring of a Senior Loan and may be subject to restrictions on resale. |
| (13) | Restricted security. |
| (14) | Security exempt from registration under Regulation S of the Securities Act of 1933, as amended, which exempts from registration securities offered and sold outside the United States. Security may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933, as amended. At December 31, 2025, the aggregate value of these securities is $86,388,851 or 7.1% of the Fund's net assets applicable to common shares. |
| (15) | Represents a payment-in-kind security which may pay interest in additional principal at the issuer’s discretion. |
| (16) | Security converts to variable rate after the indicated fixed-rate coupon period. |
| (17) | Perpetual security with no stated maturity date but may be subject to calls by the issuer. |
| (18) | Issuer is in default with respect to interest and/or principal payments or has declared bankruptcy and is non-income producing. For a variable rate security, interest rate has been adjusted to reflect non-accrual status. |
| (19) | Represents a participation interest, through a participation agreement with a financial institution, in mortgage loans guaranteed by Government National Mortgage Association. |
| (20) | Senior floating-rate loans (Senior Loans) often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, Senior Loans will typically have an expected average life of approximately two to four years. Senior Loans typically have rates of interest which are redetermined periodically by reference to a base lending rate, plus a spread. These base lending rates are primarily the Secured Overnight Financing Rate (“SOFR”) and secondarily, the prime rate offered by one or more major United States banks (the “Prime Rate”). Base lending rates may be subject to a floor, or minimum rate. Rates for SOFR are generally 1 or 3-month tenors and may also be subject to a credit spread adjustment. Senior Loans are generally subject to contractual restrictions that must be satisfied before they can be bought or sold. |
| (21) | Unfunded or partially unfunded loan commitments. The stated interest rate reflects the reference rate and spread for the funded portion, if any. At December 31, 2025, the total value of unfunded loan commitments is $2,551,370. |
| (22) | This Senior Loan will settle after December 31, 2025, at which time the interest rate will be determined. |
| (23) | Fixed-rate loan. |
| (24) | Adjustable rate mortgage security whose interest rate generally adjusts monthly based on a weighted average of interest rates on the underlying mortgages. The coupon rate may not reflect the applicable index value as interest rates on the underlying mortgages may adjust on various dates and at various intervals and may be subject to lifetime ceilings and lifetime floors and lookback periods. Rate shown is the coupon rate at December 31, 2025. |
| (25) | Principal amount is less than $500. |
| (26) | TBA (To Be Announced) securities are purchased or sold on a forward commitment basis with an approximate principal amount and maturity date. The actual principal amount, which is not expected to differ significantly from the commitment amount, and maturity date are determined upon settlement. |
| (27) | May be deemed to be an affiliated investment company. The rate shown is the annualized seven-day yield as of December 31, 2025. |
| (28) | Security (or a portion thereof) has been pledged to cover margin requirements on open derivative contracts. |
| Forward Foreign Currency Exchange Contracts (Centrally Cleared) | |||||
| Currency Purchased | Currency Sold | Settlement Date | Value/Unrealized Appreciation (Depreciation) | ||
| EUR | 155,649 | USD | 182,655 | 3/18/26 | $ 880 |
| EUR | 108,528 | USD | 128,179 | 3/18/26 | (206) |
| EUR | 163,926 | USD | 193,607 | 3/18/26 | (312) |
| EUR | 838,406 | USD | 990,209 | 3/18/26 | (1,593) |
| USD | 1,977,540 | EUR | 1,674,374 | 3/18/26 | 3,181 |
| USD | 1,427,324 | EUR | 1,208,509 | 3/18/26 | 2,296 |
| USD | 977,450 | EUR | 827,603 | 3/18/26 | 1,572 |
| USD | 957,361 | EUR | 810,593 | 3/18/26 | 1,540 |
| USD | 885,797 | EUR | 750,000 | 3/18/26 | 1,425 |
| USD | 779,501 | EUR | 660,000 | 3/18/26 | 1,254 |
| USD | 483,743 | EUR | 409,583 | 3/18/26 | 778 |
| USD | 173,802 | EUR | 147,157 | 3/18/26 | 279 |
| USD | 157,168 | EUR | 133,074 | 3/18/26 | 253 |
| USD | 131,830 | EUR | 111,620 | 3/18/26 | 212 |
| USD | 108,175 | EUR | 91,591 | 3/18/26 | 174 |
| $11,733 | |||||
| Forward Foreign Currency Exchange Contracts (OTC) | |||||||
| Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation | Unrealized (Depreciation) | ||
| USD | 49,021,414 | EUR | 42,161,465 | Standard Chartered Bank | 1/5/26 | $ — | $ (526,740) |
| USD | 397,314 | EUR | 340,000 | Citibank, N.A. | 1/9/26 | — | (2,329) |
| EUR | 155,686 | USD | 179,552 | Citibank, N.A. | 1/30/26 | 3,627 | — |
| EUR | 739,000 | USD | 856,070 | Goldman Sachs International | 1/30/26 | 13,432 | — |
| EUR | 426,176 | USD | 493,286 | Goldman Sachs International | 1/30/26 | 8,149 | — |
| EUR | 104,738 | USD | 121,752 | Goldman Sachs International | 1/30/26 | 1,481 | — |
| EUR | 36,523 | USD | 42,310 | Goldman Sachs International | 1/30/26 | 664 | — |
| EUR | 199,000 | USD | 230,162 | HSBC Bank USA, N.A. | 1/30/26 | 3,980 | — |
| EUR | 14,000,000 | USD | 16,297,722 | Standard Chartered Bank | 1/30/26 | 174,572 | — |
| EUR | 166,090 | USD | 193,274 | Standard Chartered Bank | 1/30/26 | 2,147 | — |
| EUR | 837,833 | USD | 967,367 | State Street Bank and Trust Company | 1/30/26 | 18,421 | — |
| EUR | 182,900 | USD | 211,411 | State Street Bank and Trust Company | 1/30/26 | 3,787 | — |
| EUR | 1,010,387 | USD | 1,189,861 | State Street Bank and Trust Company | 1/30/26 | — | (1,047) |
| GBP | 127,627 | USD | 168,542 | Citibank, N.A. | 1/30/26 | 3,488 | — |
| GBP | 106,592 | USD | 140,857 | Citibank, N.A. | 1/30/26 | 2,820 | — |
| GBP | 123,041 | USD | 165,046 | Goldman Sachs International | 1/30/26 | 802 | — |
| GBP | 402,139 | USD | 537,836 | State Street Bank and Trust Company | 1/30/26 | 4,211 | — |
| GBP | 100,989 | USD | 131,797 | The Royal Bank of Scotland PLC | 1/30/26 | 4,327 | — |
| GBP | 226,274 | USD | 301,784 | The Royal Bank of Scotland PLC | 1/30/26 | 3,212 | — |
| USD | 115,593 | EUR | 100,000 | Citibank, N.A. | 1/30/26 | — | (2,066) |
| USD | 242,746 | EUR | 210,000 | Citibank, N.A. | 1/30/26 | — | (4,339) |
| Forward Foreign Currency Exchange Contracts (OTC) (continued) | |||||||
| Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation | Unrealized (Depreciation) | ||
| USD | 278,030 | EUR | 240,000 | Deutsche Bank AG | 1/30/26 | $ — | $ (4,352) |
| USD | 1,091,616 | EUR | 936,567 | Deutsche Bank AG | 1/30/26 | — | (10,342) |
| USD | 39,194,165 | EUR | 33,627,170 | Deutsche Bank AG | 1/30/26 | — | (371,310) |
| USD | 153,041 | EUR | 130,000 | Goldman Sachs International | 1/30/26 | 84 | — |
| USD | 121,448 | EUR | 105,000 | Goldman Sachs International | 1/30/26 | — | (2,094) |
| USD | 231,182 | EUR | 200,000 | Goldman Sachs International | 1/30/26 | — | (4,136) |
| USD | 262,944 | EUR | 223,106 | Standard Chartered Bank | 1/30/26 | 438 | — |
| USD | 80,522 | EUR | 68,925 | Standard Chartered Bank | 1/30/26 | — | (575) |
| USD | 151,947 | EUR | 130,000 | Standard Chartered Bank | 1/30/26 | — | (1,010) |
| USD | 175,252 | EUR | 150,000 | Standard Chartered Bank | 1/30/26 | — | (1,237) |
| USD | 210,501 | EUR | 180,563 | Standard Chartered Bank | 1/30/26 | — | (1,948) |
| USD | 523,552 | EUR | 446,911 | Standard Chartered Bank | 1/30/26 | — | (2,280) |
| USD | 158,156 | EUR | 134,705 | State Street Bank and Trust Company | 1/30/26 | — | (336) |
| USD | 270,873 | EUR | 232,405 | State Street Bank and Trust Company | 1/30/26 | — | (2,572) |
| USD | 240,682 | EUR | 208,111 | State Street Bank and Trust Company | 1/30/26 | — | (4,180) |
| USD | 197,970 | EUR | 169,575 | The Toronto-Dominion Bank | 1/30/26 | — | (1,550) |
| USD | 362,517 | EUR | 310,087 | The Toronto-Dominion Bank | 1/30/26 | — | (2,329) |
| USD | 134,917 | GBP | 101,078 | Deutsche Bank AG | 1/30/26 | — | (1,328) |
| USD | 133,321 | GBP | 99,990 | Deutsche Bank AG | 1/30/26 | — | (1,456) |
| USD | 135,580 | GBP | 101,406 | Goldman Sachs International | 1/30/26 | — | (1,107) |
| USD | 8,458,056 | GBP | 6,393,383 | Goldman Sachs International | 1/30/26 | — | (159,636) |
| USD | 123,678 | GBP | 93,166 | Standard Chartered Bank | 1/30/26 | — | (1,902) |
| USD | 110,841 | GBP | 82,045 | State Street Bank and Trust Company | 1/30/26 | 252 | — |
| USD | 133,273 | GBP | 100,000 | State Street Bank and Trust Company | 1/30/26 | — | (1,517) |
| USD | 390,539 | GBP | 291,353 | State Street Bank and Trust Company | 1/30/26 | — | (2,179) |
| USD | 130,473 | GBP | 98,978 | State Street Bank and Trust Company | 1/30/26 | — | (2,940) |
| USD | 143,417 | GBP | 109,429 | The Royal Bank of Scotland PLC | 1/30/26 | — | (4,083) |
| USD | 49,583,823 | EUR | 42,161,465 | Standard Chartered Bank | 2/3/26 | — | (32,441) |
| GBP | 62,224 | USD | 84,038 | Standard Chartered Bank | 2/27/26 | — | (173) |
| USD | 19,386,413 | EUR | 16,664,947 | HSBC Bank USA, N.A. | 2/27/26 | — | (247,211) |
| USD | 22,224,101 | EUR | 19,094,334 | Standard Chartered Bank | 2/27/26 | — | (271,678) |
| USD | 2,552,921 | GBP | 1,935,974 | Standard Chartered Bank | 2/27/26 | — | (56,380) |
| USD | 43,624,916 | EUR | 36,881,758 | Deutsche Bank AG | 3/31/26 | 109,745 | — |
| $359,639 | $(1,730,803) | ||||||
| Futures Contracts | |||||
| Description | Number of Contracts | Position | Expiration Date | Notional Amount | Value/Unrealized Appreciation (Depreciation) |
| Interest Rate Futures | |||||
| U.S. 5-Year Treasury Note | 1,704 | Long | 3/31/26 | $186,255,188 | $(786,742) |
| U.S. Ultra 10-Year Treasury Note | 11 | Long | 3/20/26 | 1,265,172 | (2,656) |
| Futures Contracts (continued) | |||||
| Description | Number of Contracts | Position | Expiration Date | Notional Amount | Value/Unrealized Appreciation (Depreciation) |
| Interest Rate Futures (continued) | |||||
| Euro-Bobl | (15) | Short | 3/6/26 | $ (2,047,668) | $ 7,756 |
| Euro-Bund | (25) | Short | 3/6/26 | (3,748,007) | 27,911 |
| Euro-Buxl | (1) | Short | 3/6/26 | (129,413) | 1,951 |
| U.S. 2-Year Treasury Note | (1) | Short | 3/31/26 | (208,789) | 115 |
| U.S. 5-Year Treasury Note | (99) | Short | 3/31/26 | (10,821,164) | 33,030 |
| U.S. 10-Year Treasury Note | (142) | Short | 3/20/26 | (15,966,125) | 101,917 |
| U.S. Long Treasury Bond | (173) | Short | 3/20/26 | (19,997,719) | 290,083 |
| U.S. Ultra-Long Treasury Bond | (37) | Short | 3/20/26 | (4,366,000) | 70,715 |
| $(255,920) | |||||
| Credit Default Swaps - Sell Protection (Centrally Cleared) | |||||||
| Reference Entity | Notional Amount(1) (000's omitted) | Contract Annual Fixed Rate(2) | Current Market Annual Fixed Rate(3) | Termination Date | Value | Unamortized Upfront Receipts (Payments) | Unrealized Appreciation (Depreciation) |
| Egypt | $158 | 1.00% (pays quarterly)(4) | 2.01% | 12/20/28 | $(4,402) | $28,519 | $24,117 |
| Total | $158 | $(4,402) | $28,519 | $24,117 | |||
| Credit Default Swaps - Buy Protection (Centrally Cleared) | |||||||
| Reference Entity | Notional Amount (000's omitted) | Contract Annual Fixed Rate(2) | Termination Date | Value | Unamortized Upfront Receipts (Payments) | Unrealized Appreciation (Depreciation) | |
| Markit CDX Emerging Markets Index (CDX.EM.43.V1) | $ | 50 | 1.00% (pays quarterly)(4) | 6/20/30 | $238 | $(1,560) | $(1,322) |
| Total | $238 | $(1,560) | $(1,322) | ||||
| Credit Default Swaps - Sell Protection (OTC) | ||||||||
| Reference Entity | Counterparty | Notional Amount(1) (000's omitted) | Contract Annual Fixed Rate(2) | Current Market Annual Fixed Rate(3) | Termination Date | Value | Unamortized Upfront Receipts (Payments) | Unrealized Appreciation (Depreciation) |
| Mexico | Citibank, N.A. | $ 2,041 | 1.00% (pays quarterly)(4) | 1.11% | 12/20/31 | $(11,373) | $54,433 | $ 43,060 |
| Petroleos Mexicanos | Goldman Sachs International | 91 | 1.00% (pays quarterly)(4) | 1.53 | 6/20/26 | (199) | 522 | 323 |
| Petroleos Mexicanos | Goldman Sachs International | 173 | 1.00% (pays quarterly)(4) | 1.53 | 6/20/26 | (368) | 3,091 | 2,723 |
| Credit Default Swaps - Sell Protection (OTC) (continued) | ||||||||
| Reference Entity | Counterparty | Notional Amount(1) (000's omitted) | Contract Annual Fixed Rate(2) | Current Market Annual Fixed Rate(3) | Termination Date | Value | Unamortized Upfront Receipts (Payments) | Unrealized Appreciation (Depreciation) |
| Petroleos Mexicanos | Goldman Sachs International | $ 92 | 1.00% (pays quarterly)(4) | 1.98% | 6/20/27 | $ (1,253) | $ 1,859 | $ 606 |
| Petroleos Mexicanos | Goldman Sachs International | 462 | 1.00% (pays quarterly)(4) | 1.98 | 6/20/27 | (6,294) | 9,399 | 3,105 |
| Petroleos Mexicanos | Goldman Sachs International | 721 | 1.00% (pays quarterly)(4) | 1.98 | 6/20/27 | (9,823) | 13,157 | 3,334 |
| Petroleos Mexicanos | JPMorgan Chase Bank, N.A. | 175 | 1.00% (pays quarterly)(4) | 1.94 | 6/20/27 | (2,280) | 3,965 | 1,685 |
| U.S. Land Banking | Goldman Sachs International | 8,500 | 5.50% (pays monthly) | 5.42 | 10/10/29 | 63,751 | — | 63,751 |
| U.S. Single Family Rental | Goldman Sachs International | 4,311 | 7.85% (pays monthly) | 7.61 | 3/18/28 | 73,153 | 3,695 | 76,848 |
| Total | $16,566 | $105,314 | $90,121 | $195,435 | ||||
| (1) | If the Fund is the seller of credit protection, the notional amount is the maximum potential amount of future payments the Fund could be required to make if a credit event, as defined in the credit default swap agreement, were to occur. At December 31, 2025, such maximum potential amount for all open credit default swaps in which the Fund is the seller was $16,724,000. |
| (2) | The contract annual fixed rate represents the fixed rate of interest received by the Fund (as a seller of protection) or paid by the Fund (as a buyer of protection) on the notional amount of the credit default swap contract. |
| (3) | Current market annual fixed rates, utilized in determining the net unrealized appreciation or depreciation as of period end, serve as an indicator of the market’s perception of the current status of the payment/performance risk associated with the credit derivative. The current market annual fixed rate of a particular reference entity reflects the cost, as quoted by the pricing vendor, of selling protection against default of that entity as of period end and may include upfront payments required to be made to enter into the agreement. The higher the fixed rate, the greater the market perceived risk of a credit event involving the reference entity. A rate identified as “Defaulted” indicates a credit event has occurred for the reference entity. |
| (4) | Upfront payment is exchanged with the counterparty as a result of the standardized trading coupon. |
| Abbreviations: | |
| CMT | – Constant Maturity Treasury |
| COF | – Cost of Funds 11th District |
| DIP | – Debtor In Possession |
| EURIBOR | – Euro Interbank Offered Rate |
| OTC | – Over-the-counter |
| PCL | – Public Company Limited |
| PIK | – Payment In Kind |
| RFUCCT | – FTSE USD IBOR Consumer Cash Fallbacks Term |
| SOFR | – Secured Overnight Financing Rate |
| SONIA | – Sterling Overnight Interbank Average |
| TBA | – To Be Announced |
| Currency Abbreviations: | |
| EUR | – Euro |
| GBP | – British Pound Sterling |
| USD | – United States Dollar |
| Description | Date(s) of Acquisition | Shares | Cost | Value |
| Common Stocks | ||||
| Enviva LLC | 12/6/24 | 44,272 | $298,087 | $699,498 |
| Total Restricted Securities | $298,087 | $699,498 |
| Name | Value, beginning of period | Purchases | Sales proceeds | Net realized gain (loss) | Change in unrealized appreciation (depreciation) | Value, end of period | Interest/ Dividend income | Principal amount ($)/ Shares, end of period |
| Commercial Mortgage-Backed Securities | ||||||||
| Morgan Stanley Bank of America Merrill Lynch Trust: | ||||||||
| Series 2014-C16, Class B, 4.225%, 6/15/47 | $ 38,658 | $ — | $ (38,892) | $3,169 | $(2,941) | $ — | $ 13 | $ — |
| Series 2015-C23, Class D, 4.204%, 7/15/50 | 2,572,543 | — | (1,092,065) | — | (114,090) | 1,376,572 | 90,763 | $1,412,271 |
| Series 2016-C29, Class D, 3.00%, 5/15/49 | 2,922,877 | — | — | — | (37,835) | 2,900,770 | 78,413 | $3,577,365 |
| Series 2016-C32, Class D, 3.396%, 12/15/49 | 1,221,020 | — | — | — | 145,198 | 1,377,334 | 51,868 | $1,600,000 |
| Morgan Stanley Capital I Trust, Series 2016-UBS12, Class D, 3.312%, 12/15/49 | 2,565,511 | — | — | — | 433,989 | 3,025,463 | 46,484 | $4,488,667 |
| Short-Term Investments | ||||||||
| Liquidity Fund, Institutional Class(1) | 24,737,696 | 556,224,702 | (566,260,212) | — | — | 14,702,186 | 936,098 | 14,702,186 |
| Total | $3,169 | $424,321 | $23,382,325 | $1,203,639 | ||||
| (1) | Represents investment in Morgan Stanley Institutional Liquidity Funds - Government Portfolio. |
| • | Level 1 – quoted prices in active markets for identical investments |
| • | Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.) |
| • | Level 3 – significant unobservable inputs (including a fund's own assumptions in determining the fair value of investments) |
| Asset Description | Level 1 | Level 2 | Level 3* | Total |
| Asset-Backed Securities | $ — | $ 97,115,831 | $ — | $ 97,115,831 |
| Closed-End Funds | 19,478,353 | — | — | 19,478,353 |
| Collateralized Mortgage Obligations | — | 472,535,498 | 0 | 472,535,498 |
| Commercial Mortgage-Backed Securities | — | 109,621,485 | 0 | 109,621,485 |
| Common Stocks | 91,569 | 10,528,027 | 723,814 | 11,343,410 |
| Convertible Bonds | — | 2,287,097 | — | 2,287,097 |
| Corporate Bonds | — | 606,446,413 | 0 | 606,446,413 |
| Government National Mortgage Association Participation Agreements | — | 4,468,604 | — | 4,468,604 |
| Preferred Stocks | — | 408,389 | 356,257 | 764,646 |
| Senior Floating-Rate Loans (Less Unfunded Loan Commitments) | — | 490,735,852 | 1,018,241 | 491,754,093 |
| Sovereign Government Bonds | — | 67,468,518 | — | 67,468,518 |
| Sovereign Loans | — | 2,223,531 | — | 2,223,531 |
| U.S. Government Agency Mortgage-Backed Securities | — | 184,081,521 | — | 184,081,521 |
| Warrants | — | 0 | — | 0 |
| Miscellaneous | — | 73,710 | 0 | 73,710 |
| Short-Term Investments: | ||||
| Affiliated Fund | 14,702,186 | — | — | 14,702,186 |
| U.S. Treasury Obligations | — | 12,156,378 | — | 12,156,378 |
| Total Investments | $34,272,108 | $2,060,150,854 | $2,098,312 | $2,096,521,274 |
| Forward Foreign Currency Exchange Contracts | $ — | $ 373,483 | $ — | $ 373,483 |
| Futures Contracts | 533,478 | — | — | 533,478 |
| Swap Contracts | — | 137,142 | — | 137,142 |
| Total | $34,805,586 | $2,060,661,479 | $2,098,312 | $2,097,565,377 |
| Liability Description | ||||
| TBA Sale Commitments | $ — | $ (21,739,239) | $ — | $ (21,739,239) |
| Forward Foreign Currency Exchange Contracts | — | (1,732,914) | — | (1,732,914) |
| Futures Contracts | (789,398) | — | — | (789,398) |
| Swap Contracts | — | (35,992) | — | (35,992) |
| Total | $ (789,398) | $ (23,508,145) | $ — | $ (24,297,543) |
| * | None of the unobservable inputs for Level 3 assets, individually or collectively, had a material impact on the Fund. |