| Asset-Backed Securities — 13.2% |
| Security | Principal Amount (000's omitted) | Value | |
| Aimco CLO 11 Ltd., Series 2020-11A, Class D1R2, 7.598%, (3 mo. SOFR + 2.95%), 7/17/37(1)(2) | $ | 3,000 | $ 3,041,502 |
| Alinea CLO Ltd., Series 2018-1A, Class E, 10.879%, (3 mo. SOFR + 6.262%), 7/20/31(1)(2) | 1,000 | 1,003,326 | |
| AMMC CLO 15 Ltd., Series 2014-15A, Class ERR, 11.828%, (3 mo. SOFR + 7.172%), 1/15/32(1)(2) | 500 | 501,347 | |
| ARES XXXIV CLO Ltd., Series 2015-2A, Class ER, 11.759%, (3 mo. SOFR + 7.112%), 4/17/33(1)(2) | 2,000 | 2,005,168 | |
| Babson CLO Ltd., Series 2022-4A, Class D1R, 7.867%, (3 mo. SOFR + 3.25%), 10/20/37(1)(2) | 2,000 | 2,032,762 | |
| Benefit Street Partners CLO XII-B Ltd., Series 2017-12BRA, Class D1, 8.292%, (3 mo. SOFR + 3.05%), 10/15/37(1)(2) | 2,000 | 2,023,338 | |
| Benefit Street Partners CLO XV Ltd., Series 2018-15A, Class D2R, 9.156%, (3 mo. SOFR + 4.50%), 7/15/37(1)(2) | 1,000 | 1,014,878 | |
| Benefit Street Partners CLO XVIII Ltd., Series 2019-18A, Class ER, 11.668%, (3 mo. SOFR + 7.012%), 10/15/34(1)(2) | 4,500 | 4,544,743 | |
| Benefit Street Partners CLO XXII Ltd., Series 2020-22A, Class ER, 11.547%, (3 mo. SOFR + 6.93%), 4/20/35(1)(2) | 2,000 | 2,020,786 | |
| Benefit Street Partners CLO XXXII Ltd.: | |||
| Series 2023-32A, Class D, 8.876%, (3 mo. SOFR + 4.25%), 10/25/36(1)(2) | 3,000 | 3,063,648 | |
| Series 2023-32A, Class E, 11.976%, (3 mo. SOFR + 7.35%), 10/25/36(1)(2) | 2,000 | 2,042,004 | |
| BlueMountain CLO Ltd.: | |||
| Series 2016-3A, Class ER, 10.735%, (3 mo. SOFR + 6.212%), 11/15/30(1)(2) | 2,000 | 1,970,564 | |
| Series 2018-1A, Class E, 10.801%, (3 mo. SOFR + 6.212%), 7/30/30(1)(2) | 1,000 | 934,941 | |
| BlueMountain CLO XXIV Ltd., Series 2019-24A, Class ER, 11.719%, (3 mo. SOFR + 7.102%), 4/20/34(1)(2) | 1,000 | 977,702 | |
| BlueMountain CLO XXVI Ltd., Series 2019-26A, Class ER, 12.009%, (3 mo. SOFR + 7.392%), 10/20/34(1)(2) | 2,500 | 2,522,927 | |
| BlueMountain CLO XXX Ltd., Series 2020-30A, Class ER, 11.356%, (3 mo. SOFR + 6.70%), 4/15/35(1)(2) | 2,000 | 1,975,532 | |
| BlueMountain CLO XXXIV Ltd., Series 2022-34A, Class E, 12.167%, (3 mo. SOFR + 7.55%), 4/20/35(1)(2) | 1,000 | 1,008,829 | |
| Brookhaven Park CLO Ltd., Series 2024-1A, Class D, 8.217%, (3 mo. SOFR + 3.60%), 4/19/37(1)(2) | 3,000 | 3,064,092 | |
| Security | Principal Amount (000's omitted) | Value | |
| Bryant Park Funding Ltd., Series 2023-21A, Class D, 10.082%, (3 mo. SOFR + 5.45%), 10/18/36(1)(2) | $ | 3,000 | $ 3,066,678 |
| Canyon Capital CLO Ltd.: | |||
| Series 2016-2A, Class ER, 10.918%, (3 mo. SOFR + 6.262%), 10/15/31(1)(2) | 3,350 | 3,359,658 | |
| Series 2019-2A, Class ER, 11.668%, (3 mo. SOFR + 7.012%), 10/15/34(1)(2) | 1,000 | 1,005,235 | |
| Carlyle C17 CLO Ltd., Series C17A, Class DR, 10.851%, (3 mo. SOFR + 6.262%), 4/30/31(1)(2) | 1,750 | 1,756,157 | |
| Carlyle Global Market Strategies CLO Ltd.: | |||
| Series 2012-3A, Class DR2, 11.418%, (3 mo. SOFR + 6.762%), 1/14/32(1)(2) | 2,000 | 2,007,728 | |
| Series 2014-4RA, Class D, 10.568%, (3 mo. SOFR + 5.912%), 7/15/30(1)(2) | 1,250 | 1,254,944 | |
| Series 2015-5A, Class DR, 11.579%, (3 mo. SOFR + 6.962%), 1/20/32(1)(2) | 1,000 | 1,001,815 | |
| Carlyle U.S. CLO Ltd.: | |||
| Series 2022-6A, Class DR, 9.376%, (3 mo. SOFR + 4.75%), 10/25/36(1)(2) | 5,400 | 5,535,691 | |
| Series 2022-6A, Class ER, 12.526%, (3 mo. SOFR + 7.90%), 10/25/36(1)(2) | 2,000 | 2,058,524 | |
| Clover CLO Ltd., Series 2019-1A, Class ER, 11.332%, (3 mo. SOFR + 6.70%), 4/18/35(1)(2) | 2,877 | 2,891,276 | |
| Dryden 41 Senior Loan Fund, Series 2015-41A, Class ER, 10.218%, (3 mo. SOFR + 5.562%), 4/15/31(1)(2) | 2,000 | 1,885,258 | |
| Dryden 42 Senior Loan Fund, Series 2016-42A, Class ERR, 11.156%, (3 mo. SOFR + 6.50%), 7/15/37(1)(2) | 1,000 | 1,012,966 | |
| Elmwood CLO 14 Ltd., Series 2022-1A, Class E, 10.967%, (3 mo. SOFR + 6.35%), 4/20/35(1)(2) | 1,000 | 1,006,317 | |
| Elmwood CLO 32 Ltd., Series 2024-8A, Class D1, 7.647%, (3 mo. SOFR + 2.85%), 10/18/37(1)(2) | 3,000 | 3,050,241 | |
| Elmwood CLO VI Ltd., Series 2020-3A, Class D2RR, 8.982%, (3 mo. SOFR + 4.35%), 7/18/37(1)(2) | 1,000 | 1,023,018 | |
| Elmwood CLO VIII Ltd., Series 2021-1A, Class DR, 8.417%, (3 mo. SOFR + 3.80%), 4/20/37(1)(2) | 4,000 | 4,093,844 | |
| Galaxy 33 CLO Ltd., Series 2024-33A, Class D1, 8.167%, (3 mo. SOFR + 3.55%), 4/20/37(1)(2) | 2,000 | 2,033,826 | |
| Galaxy XV CLO Ltd., Series 2013-15A, Class ER, 11.563%, (3 mo. SOFR + 6.907%), 10/15/30(1)(2) | 3,275 | 3,283,698 | |
| Galaxy XXI CLO Ltd., Series 2015-21A, Class ER, 10.129%, (3 mo. SOFR + 5.512%), 4/20/31(1)(2) | 1,100 | 1,103,120 | |
| Golub Capital Partners CLO 50B-R Ltd., Series 2020-50A, Class ER, 11.717%, (3 mo. SOFR + 7.10%), 4/20/35(1)(2) | 2,000 | 2,007,252 | |
| Security | Principal Amount (000's omitted) | Value | |
| Golub Capital Partners CLO 72 B Ltd., Series 2024-72A, Class D, 8.626%, (3 mo. SOFR + 4.00%), 4/25/37(1)(2) | $ | 2,000 | $ 2,028,856 |
| Harvest U.S. CLO Ltd., Series 2024-2A, Class D1, 8.059%, (3 mo. SOFR + 3.25%), 10/15/37(1)(2) | 3,000 | 3,048,021 | |
| Madison Park Funding LV Ltd., Series 2022-55A, Class D1R, 7.782%, (3 mo. SOFR + 3.15%), 7/18/37(1)(2) | 3,000 | 3,042,096 | |
| Madison Park Funding XXXVI Ltd., Series 2019-36A, Class ER, 11.706%, (3 mo. SOFR + 7.05%), 4/15/35(1)(2) | 3,000 | 3,011,151 | |
| Madison Park Funding XXXVII Ltd., Series 2019-37A, Class ER2, 11.256%, (3 mo. SOFR + 6.60%), 4/15/37(1)(2) | 3,500 | 3,556,423 | |
| Magnetite XXII Ltd.: | |||
| Series 2019-22A, Class DJ, 8.806%, (3 mo. SOFR + 4.15%), 7/15/36(1)(2) | 1,000 | 1,003,036 | |
| Series 2019-22A, Class DRR, 7.556%, (3 mo. SOFR + 2.90%), 7/15/36(1)(2) | 3,000 | 3,028,659 | |
| Marble Point CLO XIX Ltd., Series 2020-3A, Class DR, 8.617%, (3 mo. SOFR + 4.00%), 1/19/34(1)(2) | 3,000 | 3,010,359 | |
| Neuberger Berman Loan Advisers CLO 30 Ltd., Series 2018-30A, Class ER, 11.079%, (3 mo. SOFR + 6.462%), 1/20/31(1)(2) | 2,000 | 2,017,452 | |
| Neuberger Berman Loan Advisers CLO 31 Ltd., Series 2019-31A, Class ER, 11.379%, (3 mo. SOFR + 6.762%), 4/20/31(1)(2) | 1,000 | 1,008,685 | |
| Neuberger Berman Loan Advisers CLO 48 Ltd., Series 2022-48A, Class E, 11.126%, (3 mo. SOFR + 6.50%), 4/25/36(1)(2) | 2,000 | 2,010,906 | |
| NRZ Excess Spread-Collateralized Notes, Series 2021-GNT1, Class A, 3.474%, 11/25/26(1) | 1,278 | 1,224,112 | |
| Oaktree CLO Ltd., Series 2019-4A, Class D2RR, 9.317%, (3 mo. SOFR + 4.70%), 7/20/37(1)(2) | 2,000 | 2,013,970 | |
| OCP CLO Ltd.: | |||
| Series 2022-24A, Class D2R, 9.017%, (3 mo. SOFR + 4.40%), 10/20/37(1)(2) | 1,500 | 1,508,262 | |
| Series 2023-27A, Class DR, 7.997%, (3 mo. SOFR + 3.35%), 7/16/35(1)(2) | 2,000 | 2,016,254 | |
| Series 2024-32A, Class D1, 8.376%, (3 mo. SOFR + 3.75%), 4/23/37(1)(2) | 4,000 | 4,079,972 | |
| Octagon 68 Ltd.: | |||
| Series 2023-1A, Class D, 8.817%, (3 mo. SOFR + 4.20%), 10/20/36(1)(2) | 5,000 | 5,102,340 | |
| Series 2023-1A, Class E, 11.857%, (3 mo. SOFR + 7.24%), 10/20/36(1)(2) | 2,000 | 2,046,316 | |
| Palmer Square CLO Ltd.: | |||
| Series 2013-2A, Class DRR, 10.759%, (3 mo. SOFR + 6.112%), 10/17/31(1)(2) | 2,000 | 2,005,592 | |
| Series 2018-1A, Class CR, 8.532%, (3 mo. SOFR + 3.90%), 4/18/37(1)(2) | 3,000 | 3,068,616 | |
| Security | Principal Amount (000's omitted) | Value | |
| Palmer Square CLO Ltd.: (continued) | |||
| Series 2019-1A, Class DR, 11.278%, (3 mo. SOFR + 6.762%), 11/14/34(1)(2) | $ | 2,000 | $ 2,011,068 |
| Series 2021-3A, Class E, 11.068%, (3 mo. SOFR + 6.412%), 1/15/35(1)(2) | 2,500 | 2,515,992 | |
| Series 2023-3A, Class D, 9.317%, (3 mo. SOFR + 4.70%), 1/20/37(1)(2) | 3,500 | 3,601,783 | |
| RAD CLO 5 Ltd., Series 2019-5A, Class E, 11.596%, (3 mo. SOFR + 6.962%), 7/24/32(1)(2) | 4,550 | 4,582,137 | |
| RAD CLO 22 Ltd., Series 2023-22A, Class D, 9.617%, (3 mo. SOFR + 5.00%), 1/20/37(1)(2) | 3,000 | 3,094,425 | |
| Regatta XIII Funding Ltd., Series 2018-2A, Class D, 10.868%, (3 mo. SOFR + 6.212%), 7/15/31(1)(2) | 2,000 | 1,967,846 | |
| Regatta XIV Funding Ltd., Series 2018-3A, Class E, 10.838%, (3 mo. SOFR + 6.212%), 10/25/31(1)(2) | 1,000 | 1,003,846 | |
| Sixth Street CLO XXI Ltd., Series 2022-21A, Class D1R, 7.642%, (3 mo. SOFR + 3.00%), 10/21/37(1)(2) | 2,000 | 2,032,140 | |
| Vibrant CLO 1X Ltd., Series 2018-9A, Class D, 11.129%, (3 mo. SOFR + 6.512%), 7/20/31(1)(2) | 1,000 | 984,899 | |
| Vibrant CLO XI Ltd., Series 2019-11A, Class D, 11.649%, (3 mo. SOFR + 7.032%), 7/20/32(1)(2) | 575 | 577,184 | |
| Voya CLO Ltd.: | |||
| Series 2015-3A, Class DR, 11.079%, (3 mo. SOFR + 6.462%), 10/20/31(1)(2) | 3,000 | 2,870,163 | |
| Series 2016-3A, Class DR, 10.974%, (3 mo. SOFR + 6.342%), 10/18/31(1)(2) | 1,400 | 1,366,337 | |
| Series 2024-2A, Class D, 8.209%, (3 mo. SOFR + 3.20%), 7/20/37(1)(2) | 2,000 | 2,030,234 | |
| Wellfleet CLO Ltd., Series 2020-1A, Class D, 12.158%, (3 mo. SOFR + 7.502%), 4/15/33(1)(2) | 2,000 | 1,963,750 | |
| Total Asset-Backed Securities (identified cost $158,534,737) | $ 160,618,217 | ||
| Closed-End Funds — 1.8% |
| Security | Shares | Value | |
| BlackRock Corporate High Yield Fund, Inc. | 2,188,579 | $ 21,469,960 | |
| Total Closed-End Funds (identified cost $26,062,179) | $ 21,469,960 | ||
| Collateralized Mortgage Obligations — 28.2% |
| Security | Principal Amount (000's omitted) | Value | |
| Cascade MH Asset Trust, Series 2022-MH1, Class A, 4.25% to 7/25/27, 8/25/54(1)(3) | $ | 2,589 | $ 2,481,205 |
| Champs Trust: | |||
| Series 2024-1, Class A, 8.39%, 7/25/59(1) | 10,614 | 10,990,330 | |
| Series 2024-2, Class A, 8.79%, 11/25/59(1)(4) | 11,173 | 11,643,319 | |
| Federal Home Loan Mortgage Corp.: | |||
| Series 2113, Class QG, 6.00%, 1/15/29 | 90 | 90,733 | |
| Series 2122, Class K, 6.00%, 2/15/29 | 15 | 15,364 | |
| Series 2130, Class K, 6.00%, 3/15/29 | 10 | 10,539 | |
| Series 2167, Class BZ, 7.00%, 6/15/29 | 10 | 10,064 | |
| Series 2182, Class ZB, 8.00%, 9/15/29 | 116 | 119,821 | |
| Series 2198, Class ZA, 8.50%, 11/15/29 | 81 | 82,914 | |
| Series 2458, Class ZB, 7.00%, 6/15/32 | 253 | 263,440 | |
| Series 3762, Class SH, 0.406%, (9.771% - 30-day SOFR Average x 2.00, Floor 0.00%), 11/15/40(5) | 343 | 244,307 | |
| Series 4273, Class PU, 4.00%, 11/15/43 | 2,263 | 2,000,623 | |
| Series 4273, Class SP, 0.00%, (11.695% - 30-day SOFR Average x 2.667, Floor 0.00%), 11/15/43(5) | 503 | 385,331 | |
| Series 4678, Class PC, 3.00%, 1/15/46 | 1,941 | 1,796,619 | |
| Series 5035, Class AZ, 2.00%, 11/25/50 | 8,310 | 3,651,253 | |
| Series 5083, Class SK, 0.00%, (3.867% - 30-day SOFR Average x 1.333, Floor 0.00%), 3/25/51(5) | 2,047 | 1,100,713 | |
| Series 5327, Class B, 6.00%, 8/25/53 | 5,000 | 5,058,570 | |
| Series 5353, Class AZ, 6.50%, 11/25/53 | 2,157 | 2,253,914 | |
| Series 5410, Class KY, 6.00%, 5/25/54 | 36,000 | 36,030,481 | |
| Series 5414, Class CZ, 5.50%, 5/25/54 | 10,373 | 9,938,756 | |
| Series 5424, Class CZ, 6.00%, 6/25/54 | 15,809 | 15,773,590 | |
| Series 5428, Class Z, 6.00%, 7/25/54 | 4,122 | 4,097,486 | |
| Series 5429, Class DZ, 6.00%, 7/25/54 | 3,091 | 3,091,487 | |
| Series 5453, Class DZ, 5.50%, 9/25/54 | 5,092 | 4,740,236 | |
| Series 5478, Class SG, 5.459%, (15.510% - 30-day SOFR Average x 2.20), 12/25/54(5) | 7,986 | 7,845,033 | |
| Interest Only:(6) | |||
| Series 284, Class S6, 1.388%, (5.986% - 30-day SOFR Average), 10/15/42(5) | 951 | 88,260 | |
| Series 362, Class C7, 3.50%, 9/15/47 | 3,927 | 771,459 | |
| Series 362, Class C11, 4.00%, 12/15/47 | 3,621 | 813,602 | |
| Series 4067, Class JI, 3.50%, 6/15/27 | 260 | 7,227 | |
| Series 4070, Class S, 1.388%, (5.986% - 30-day SOFR Average), 6/15/32(5) | 1,819 | 98,407 | |
| Series 4094, Class CS, 1.288%, (5.886% - 30-day SOFR Average), 8/15/42(5) | 493 | 44,898 | |
| Series 4095, Class HS, 1.388%, (5.986% - 30-day SOFR Average), 7/15/32(5) | 319 | 10,640 | |
| Series 4109, Class ES, 1.438%, (6.036% - 30-day SOFR Average), 12/15/41(5) | 81 | 7,753 | |
| Security | Principal Amount (000's omitted) | Value | |
| Interest Only: (continued) | |||
| Series 4110, Class SA, 0.938%, (5.536% - 30-day SOFR Average), 9/15/42(5) | $ | 1,583 | $ 93,128 |
| Series 4149, Class S, 1.538%, (6.136% - 30-day SOFR Average), 1/15/33(5) | 978 | 56,985 | |
| Series 4188, Class AI, 3.50%, 4/15/28 | 185 | 4,027 | |
| Series 4203, Class QS, 1.538%, (6.136% - 30-day SOFR Average), 5/15/43(5) | 1,870 | 122,814 | |
| Series 4408, Class IP, 3.50%, 4/15/44 | 1,268 | 156,562 | |
| Series 4435, Class BI, 3.50%, 7/15/44 | 2,365 | 336,121 | |
| Series 4629, Class QI, 3.50%, 11/15/46 | 1,089 | 199,200 | |
| Series 4644, Class TI, 3.50%, 1/15/45 | 1,121 | 142,914 | |
| Series 4744, Class IO, 4.00%, 11/15/47 | 1,840 | 392,687 | |
| Series 4749, Class IL, 4.00%, 12/15/47 | 819 | 175,029 | |
| Series 4793, Class SD, 1.488%, (6.086% - 30-day SOFR Average), 6/15/48(5) | 3,838 | 427,112 | |
| Series 4966, Class SY, 1.367%, (5.936% - 30-day SOFR Average), 4/25/50(5) | 10,265 | 1,234,215 | |
| Principal Only:(7) | |||
| Series 242, Class PO, 0.00%, 11/15/36 | 1,525 | 1,220,226 | |
| Series 259, Class PO, 0.00%, 4/15/39 | 989 | 775,434 | |
| Series 3606, Class PO, 0.00%, 12/15/39 | 970 | 741,906 | |
| Series 4417, Class KO, 0.00%, 12/15/43 | 184 | 123,593 | |
| Series 4478, Class PO, 0.00%, 5/15/45 | 539 | 385,463 | |
| Federal National Mortgage Association: | |||
| Series 1996-57, Class Z, 7.00%, 12/25/26 | 29 | 29,420 | |
| Series 1997-77, Class Z, 7.00%, 11/18/27 | 31 | 32,189 | |
| Series 1998-44, Class ZA, 6.50%, 7/20/28 | 42 | 43,026 | |
| Series 1999-45, Class ZG, 6.50%, 9/25/29 | 13 | 12,846 | |
| Series 2000-22, Class PN, 6.00%, 7/25/30 | 183 | 185,619 | |
| Series 2002-21, Class PE, 6.50%, 4/25/32 | 141 | 145,110 | |
| Series 2005-75, Class CS, 5.467%, (23.742% - 30-day SOFR Average x 4.00), 9/25/35(5) | 454 | 486,658 | |
| Series 2007-74, Class AC, 5.00%, 8/25/37 | 1,676 | 1,667,162 | |
| Series 2011-49, Class NT, 6.00%, (64.855% - 30-day SOFR Average x 10.00, Cap 6.00%), 6/25/41(5) | 183 | 174,854 | |
| Series 2012-134, Class ZT, 2.00%, 12/25/42 | 1,324 | 1,004,141 | |
| Series 2013-6, Class TA, 1.50%, 1/25/43 | 986 | 847,023 | |
| Series 2013-67, Class NF, 5.00%, (30-day SOFR Average + 1.114%, Cap 5.00%), 7/25/43(2) | 947 | 890,106 | |
| Series 2017-15, Class LE, 3.00%, 6/25/46 | 371 | 362,063 | |
| Series 2017-48, Class LG, 2.75%, 5/25/47 | 1,239 | 1,072,042 | |
| Series 2019-29, Class WC, 1.352%, 6/25/48(4) | 843 | 0 | |
| Series 2024-90, Class ES, 5.569%, (15.620% - 30-day SOFR Average x 2.20), 10/25/54(5) | 9,990 | 10,231,052 | |
| Series 2024-98, Class J, 0.125%, 12/25/53 | 20,000 | 15,832,934 | |
| Interest Only:(6) | |||
| Series 2011-101, Class IC, 3.50%, 10/25/26 | 425 | 6,048 | |
| Series 2011-101, Class IE, 3.50%, 10/25/26 | 138 | 1,948 | |
| Security | Principal Amount (000's omitted) | Value | |
| Interest Only: (continued) | |||
| Series 2012-33, Class CI, 3.50%, 3/25/27 | $ | 55 | $ 114 |
| Series 2012-118, Class IN, 3.50%, 11/25/42 | 2,561 | 493,170 | |
| Series 2012-124, Class IO, 1.758%, 11/25/42(4) | 961 | 43,389 | |
| Series 2012-125, Class IG, 3.50%, 11/25/42 | 8,035 | 1,642,559 | |
| Series 2012-150, Class SK, 1.467%, (6.036% - 30-day SOFR Average), 1/25/43(5) | 1,473 | 146,602 | |
| Series 2013-12, Class SP, 0.967%, (5.536% - 30-day SOFR Average), 11/25/41(5) | 208 | 3,447 | |
| Series 2013-15, Class DS, 1.517%, (6.086% - 30-day SOFR Average), 3/25/33(5) | 2,735 | 140,470 | |
| Series 2013-16, Class SY, 1.467%, (6.036% - 30-day SOFR Average), 3/25/43(5) | 822 | 82,791 | |
| Series 2013-64, Class PS, 1.567%, (6.136% - 30-day SOFR Average), 4/25/43(5) | 1,026 | 74,468 | |
| Series 2013-75, Class SC, 1.567%, (6.136% - 30-day SOFR Average), 7/25/42(5) | 1,118 | 27,922 | |
| Series 2014-32, Class EI, 4.00%, 6/25/44 | 308 | 57,086 | |
| Series 2014-55, Class IN, 3.50%, 7/25/44 | 627 | 118,076 | |
| Series 2014-89, Class IO, 3.50%, 1/25/45 | 839 | 160,255 | |
| Series 2015-52, Class MI, 3.50%, 7/25/45 | 738 | 140,922 | |
| Series 2018-21, Class IO, 3.00%, 4/25/48 | 3,402 | 544,430 | |
| Series 2019-1, Class AS, 1.317%, (5.886% - 30-day SOFR Average), 2/25/49(5) | 5,290 | 360,071 | |
| Series 2019-33, Class SK, 1.367%, (5.936% - 30-day SOFR Average), 7/25/49(5) | 3,570 | 342,902 | |
| Series 2020-23, Class SP, 1.367%, (5.936% - 30-day SOFR Average), 2/25/50(5) | 3,206 | 388,495 | |
| Principal Only:(7) | |||
| Series 379, Class 1, 0.00%, 5/25/37 | 950 | 753,078 | |
| Series 2006-8, Class WQ, 0.00%, 3/25/36 | 1,540 | 1,244,490 | |
| Government National Mortgage Association: | |||
| Series 2017-121, Class DF, 4.985%, (1 mo. SOFR + 0.614%, Cap 5.00%), 8/20/47(2) | 2,725 | 2,633,728 | |
| Series 2017-137, Class AF, 4.985%, (1 mo. SOFR + 0.614%, Cap 5.00%), 9/20/47(2) | 1,412 | 1,364,088 | |
| Series 2018-6, Class JZ, 4.00%, 1/20/48 | 5,471 | 4,833,803 | |
| Series 2021-160, Class NZ, 3.00%, 9/20/51 | 1,572 | 827,225 | |
| Series 2021-165, Class MZ, 2.50%, 9/20/51 | 9,501 | 5,236,146 | |
| Series 2022-189, Class US, 5.85%, (22.733% - 30-day SOFR Average x 3.667), 11/20/52(5) | 3,793 | 3,950,328 | |
| Series 2023-56, Class ZE, 6.00%, 4/20/53 | 11,049 | 11,202,915 | |
| Series 2023-63, Class S, 5.667%, (22.55% - 30-day SOFR Average x 3.667), 5/20/53(5) | 3,655 | 3,740,902 | |
| Series 2023-65, Class SD, 5.667%, (22.55% - 30-day SOFR Average x 3.667), 5/20/53(5) | 5,223 | 5,416,645 | |
| Series 2023-96, Class BL, 6.00%, 7/20/53 | 4,326 | 4,324,988 | |
| Series 2023-96, Class DB, 6.00%, 7/20/53 | 2,500 | 2,536,719 | |
| Series 2023-97, Class CB, 6.00%, 7/20/53 | 10,000 | 10,013,177 | |
| Series 2023-99, Class AL, 6.00%, 7/20/53 | 2,500 | 2,536,799 | |
| Security | Principal Amount (000's omitted) | Value | |
| Government National Mortgage Association: (continued) | |||
| Series 2023-102, Class SG, 5.386%, (22.546% - 30-day SOFR Average x 3.727), 7/20/53(5) | $ | 6,347 | $ 6,253,166 |
| Series 2023-115, Class AL, 6.00%, 8/20/53 | 8,500 | 8,636,724 | |
| Series 2023-116, Class CY, 6.00%, 8/20/53 | 5,000 | 4,949,139 | |
| Series 2023-133, Class S, 7.786%, (21.60% - 30-day SOFR Average x 3.00), 9/20/53(5) | 3,401 | 3,547,568 | |
| Series 2023-149, Class S, 7.636%, (21.45% - 30-day SOFR Average x 3.00), 10/20/53(5) | 3,894 | 4,167,626 | |
| Series 2023-150, Class AS, 9.80%, (27.528% - 30-day SOFR Average x 3.85), 10/20/53(5) | 2,186 | 2,415,000 | |
| Series 2023-153, Class SM, 9.582%, (28.00% - 30-day SOFR Average x 4.00), 10/20/53(5) | 2,724 | 3,007,737 | |
| Series 2023-164, Class EL, 6.00%, 11/20/53 | 6,000 | 6,095,103 | |
| Series 2023-165, Class DY, 6.00%, 11/20/53 | 12,000 | 12,236,318 | |
| Series 2023-165, Class EY, 6.50%, 11/20/53 | 30,000 | 30,874,260 | |
| Series 2023-173, Class AX, 6.00%, 11/20/53 | 6,000 | 6,068,440 | |
| Series 2023-181, Class CL, 6.50%, 11/20/53 | 2,000 | 2,083,428 | |
| Series 2023-182, Class EL, 6.00%, 12/20/53 | 3,000 | 3,047,651 | |
| Interest Only:(6) | |||
| Series 2017-104, Class SD, 1.715%, (6.086% - 1 mo. SOFR), 7/20/47(5) | 2,117 | 235,647 | |
| Series 2020-151, Class AI, 2.00%, 10/20/50 | 10,700 | 1,291,420 | |
| Series 2020-154, Class PI, 2.50%, 10/20/50 | 9,566 | 1,286,855 | |
| Series 2020-176, Class HI, 2.50%, 11/20/50 | 11,230 | 1,515,444 | |
| Series 2021-131, Class QI, 3.00%, 7/20/51 | 8,599 | 1,209,980 | |
| Series 2021-193, Class IU, 3.00%, 11/20/49 | 18,491 | 2,665,437 | |
| Series 2021-209, Class IW, 3.00%, 11/20/51 | 12,054 | 1,651,230 | |
| JPM Lending Facility, 11.305%, (SOFR + 7.00%), 7/15/29(2) | 8,250 | 8,272,696 | |
| Total Collateralized Mortgage Obligations (identified cost $382,079,078) | $ 342,063,100 | ||
| Commercial Mortgage-Backed Securities — 4.9% |
| Security | Principal Amount (000's omitted) | Value | |
| BAMLL Commercial Mortgage Securities Trust: | |||
| Series 2019-BPR, Class ENM, 3.719%, 11/5/32(1)(4) | $ | 910 | $ 472,855 |
| Series 2019-BPR, Class FNM, 3.719%, 11/5/32(1)(4) | 3,505 | 737,696 | |
| BBCMS Mortgage Trust, Series 2017-C1, Class D, 3.529%, 2/15/50(1)(4) | 2,200 | 1,373,389 | |
| BX Commercial Mortgage Trust, Series 2021-VOLT, Class C, 5.612%, (1 mo. SOFR + 1.214%), 9/15/36(1)(2) | 2,000 | 1,989,999 | |
| Security | Principal Amount (000's omitted) | Value | |
| CFCRE Commercial Mortgage Trust: | |||
| Series 2016-C3, Class C, 4.742%, 1/10/48(4) | $ | 1,300 | $ 1,264,747 |
| Series 2016-C3, Class D, 3.052%, 1/10/48(1)(4) | 3,500 | 3,163,545 | |
| Series 2016-C7, Class D, 4.363%, 12/10/54(1)(4) | 1,675 | 1,389,462 | |
| Citigroup Commercial Mortgage Trust, Series 2015-P1, Class D, 3.225%, 9/15/48(1) | 2,218 | 2,016,289 | |
| COMM Mortgage Trust: | |||
| Series 2013-CR11, Class D, 4.463%, 8/10/50(1)(4) | 6,002 | 5,548,983 | |
| Series 2015-CR22, Class D, 4.071%, 3/10/48(1)(4) | 4,100 | 3,110,281 | |
| CSMC Trust: | |||
| Series 2016-NXSR, Class C, 4.421%, 12/15/49(4) | 2,770 | 2,391,147 | |
| Series 2016-NXSR, Class D, 4.421%, 12/15/49(1)(4) | 3,000 | 2,337,787 | |
| Federal National Mortgage Association Multifamily Connecticut Avenue Securities Trust, Series 2019-01, Class M10, 7.933%, (30-day SOFR Average + 3.364%), 10/25/49(1)(2) | 1,448 | 1,465,424 | |
| Fontainebleau Miami Beach Mortgage Trust, Series 2024-FBLU, Class G, 10.143%, (1 mo. SOFR + 5.65%), 12/15/39(1)(2) | 5,000 | 5,077,250 | |
| JPMBB Commercial Mortgage Securities Trust: | |||
| Series 2014-C22, Class D, 4.512%, 9/15/47(1)(4) | 1,376 | 805,043 | |
| Series 2014-C23, Class D, 4.049%, 9/15/47(1)(4) | 3,488 | 3,010,813 | |
| Series 2014-C25, Class D, 3.932%, 11/15/47(1)(4) | 3,200 | 1,633,292 | |
| JPMorgan Chase Commercial Mortgage Securities Trust: | |||
| Series 2013-C13, Class D, 3.983%, 1/15/46(1)(4) | 385 | 363,464 | |
| Series 2013-C16, Class D, 4.884%, 12/15/46(1)(4) | 2,573 | 2,416,278 | |
| Series 2014-DSTY, Class B, 3.771%, 6/10/27(1) | 2,600 | 326,809 | |
| Series 2021-MHC, Class C, 6.063%, (1 mo. SOFR + 1.664%), 4/15/38(1)(2) | 1,900 | 1,899,809 | |
| Morgan Stanley Bank of America Merrill Lynch Trust: | |||
| Series 2014-C16, Class B, 4.274%, 6/15/47(4)(8) | 73 | 70,230 | |
| Series 2015-C23, Class D, 4.137%, 7/15/50(1)(4)(8) | 2,670 | 2,540,039 | |
| Series 2016-C29, Class D, 3.00%, 5/15/49(1)(8) | 3,577 | 2,896,030 | |
| Series 2016-C32, Class D, 3.396%, 12/15/49(1)(4)(8) | 1,600 | 1,173,388 | |
| Morgan Stanley Capital I Trust, Series 2016-UBS12, Class D, 3.312%, 12/15/49(1)(8) | 4,489 | 2,377,214 | |
| UBS-Barclays Commercial Mortgage Trust, Series 2013-C6, Class D, 3.929%, 4/10/46(1)(4) | 3,764 | 3,270,502 | |
| Wells Fargo Commercial Mortgage Trust: | |||
| Series 2015-C31, Class D, 3.852%, 11/15/48 | 2,475 | 2,099,656 | |
| Series 2016-C35, Class D, 3.142%, 7/15/48(1) | 1,850 | 1,623,185 | |
| Security | Principal Amount (000's omitted) | Value | |
| Wells Fargo Commercial Mortgage Trust: (continued) | |||
| Series 2016-C36, Class D, 2.942%, 11/15/59(1) | $ | 1,500 | $ 1,045,990 |
| Total Commercial Mortgage-Backed Securities (identified cost $69,243,052) | $ 59,890,596 | ||
| Common Stocks — 0.9% |
| Security | Shares | Value | |
| Aerospace and Defense — 0.0% | |||
| IAP Worldwide Services LLC(9)(10)(11) | 31 | $ 0 | |
| $ 0 | |||
| Commercial Services & Supplies — 0.1% | |||
| Monitronics International, Inc.(10)(11) | 26,092 | $ 547,932 | |
| Phoenix Services International LLC(10)(11) | 17,026 | 70,232 | |
| Phoenix Services International LLC(10)(11) | 1,554 | 6,410 | |
| $ 624,574 | |||
| Containers and Glass Products — 0.0%(12) | |||
| LG Parent Holding Co.(10)(11) | 166,175 | $ 505,421 | |
| $ 505,421 | |||
| Electronic Equipment, Instruments & Components — 0.1% | |||
| Range Red Acquisitions LLC, Class A1(9)(10)(11) | 516 | $ 1,128,544 | |
| $ 1,128,544 | |||
| Electronics/Electrical — 0.0%(12) | |||
| Skillsoft Corp.(10)(11) | 7,153 | $ 171,386 | |
| $ 171,386 | |||
| Energy — 0.1% | |||
| Enviva LLC(10) | 58,260 | $ 1,019,579 | |
| $ 1,019,579 | |||
| Entertainment — 0.0%(12) | |||
| New Cineworld Ltd.(10)(11) | 12,854 | $ 327,456 | |
| $ 327,456 | |||
| Health Care — 0.1% | |||
| Akorn Holding Co. LLC(9)(10)(11) | 42,374 | $ 0 | |
| Envision Parent, Inc.(10)(11) | 146,518 | 1,697,191 | |
| $ 1,697,191 | |||
| Security | Shares | Value | |
| Household Durables — 0.1% | |||
| Serta Simmons Bedding, Inc.(10)(11) | 246,099 | $ 1,768,837 | |
| Serta SSB Equipment Co.(9)(10)(11) | 246,099 | 0 | |
| $ 1,768,837 | |||
| Investment Companies — 0.0%(12) | |||
| Aegletes BV(10)(11) | 11,215 | $ 7,996 | |
| $ 7,996 | |||
| Nonferrous Metals/Minerals — 0.1% | |||
| ACNR Holdings, Inc., Class A(11) | 7,669 | $ 633,651 | |
| $ 633,651 | |||
| Oil and Gas — 0.0%(12) | |||
| AFG Holdings, Inc.(9)(10)(11) | 29,751 | $ 0 | |
| Frontera Energy Corp. | 634 | 3,811 | |
| $ 3,811 | |||
| Pharmaceuticals — 0.3% | |||
| Covis Midco 1 SARL, Class A(10)(11) | 560 | $ 285 | |
| Covis Midco 1 SARL, Class B(10)(11) | 560 | 286 | |
| Covis Midco 1 SARL, Class C(10)(11) | 560 | 286 | |
| Covis Midco 1 SARL, Class D(10)(11) | 560 | 286 | |
| Covis Midco 1 SARL, Class E(10)(11) | 560 | 286 | |
| Endo, Inc.(10)(11) | 21,612 | 517,607 | |
| Mallinckrodt International Finance SA(10)(11) | 31,584 | 2,786,498 | |
| $ 3,305,534 | |||
| Retail — 0.0% | |||
| Jubilee Enterprise PCL, Class A1(9)(10)(11) | 807 | $ 0 | |
| Jubilee Enterprise PCL, Class A2(9)(10)(11) | 644,824 | 0 | |
| $ 0 | |||
| Retailers (Except Food and Drug) — 0.0% | |||
| Phillips Feed Service, Inc.(9)(10)(11) | 582 | $ 0 | |
| $ 0 | |||
| Telecommunications — 0.0% | |||
| GEE Acquisition Holdings Corp.(9)(10)(11) | 37,259 | $ 0 | |
| $ 0 | |||
| Total Common Stocks (identified cost $13,703,349) | $ 11,193,980 | ||
| Convertible Bonds — 0.2% |
| Security | Principal Amount* (000's omitted) | Value | |
| Energy — 0.1% | |||
| NextEra Energy Partners LP, 2.50%, 6/15/26(1) | 1,825 | $ 1,722,453 | |
| $ 1,722,453 | |||
| Internet Software & Services — 0.0%(12) | |||
| Delivery Hero SE, 2.125%, 3/10/29(13) | EUR | 300 | $ 264,570 |
| $ 264,570 | |||
| Real Estate Investment Trusts (REITs) — 0.1% | |||
| Pebblebrook Hotel Trust, 1.75%, 12/15/26 | 795 | $ 742,212 | |
| $ 742,212 | |||
| Total Convertible Bonds (identified cost $2,717,044) | $ 2,729,235 | ||
| Corporate Bonds — 46.2% |
| Security | Principal Amount* (000's omitted) | Value | |
| Aerospace and Defense — 1.1% | |||
| Bombardier, Inc.: | |||
| 7.00%, 6/1/32(1) | 710 | $ 723,143 | |
| 7.25%, 7/1/31(1) | 825 | 851,834 | |
| 7.875%, 4/15/27(1) | 708 | 709,515 | |
| 8.75%, 11/15/30(1) | 1,125 | 1,210,708 | |
| Moog, Inc., 4.25%, 12/15/27(1) | 955 | 912,292 | |
| TransDigm, Inc.: | |||
| 4.625%, 1/15/29 | 2,965 | 2,778,954 | |
| 5.50%, 11/15/27 | 2,552 | 2,509,775 | |
| 6.375%, 3/1/29(1) | 650 | 652,257 | |
| 6.625%, 3/1/32(1) | 1,045 | 1,055,738 | |
| 6.75%, 8/15/28(1) | 1,812 | 1,830,072 | |
| $ 13,234,288 | |||
| Agriculture — 0.1% | |||
| Darling Ingredients, Inc., 6.00%, 6/15/30(1) | 814 | $ 803,703 | |
| $ 803,703 | |||
| Air Transport — 0.1% | |||
| Deutsche Lufthansa AG, 4.382% to 2/12/26, 8/12/75(13)(14) | EUR | 200 | $ 207,794 |
| Gatwick Airport Finance PLC, 4.375%, 4/7/26(13) | GBP | 300 | 370,029 |
| Security | Principal Amount* (000's omitted) | Value | |
| Air Transport (continued) | |||
| Heathrow Finance PLC: | |||
| 4.125%, 9/1/29(13) | GBP | 100 | $ 114,846 |
| 6.625%, 3/1/31(13) | GBP | 220 | 277,268 |
| $ 969,937 | |||
| Airlines — 0.2% | |||
| VistaJet Malta Finance PLC/Vista Management Holding, Inc.: | |||
| 6.375%, 2/1/30(1) | 2,806 | $ 2,454,798 | |
| 9.50%, 6/1/28(1) | 494 | 497,678 | |
| $ 2,952,476 | |||
| Apparel & Luxury Goods — 0.1% | |||
| Champ Acquisition Corp., 8.375%, 12/1/31(1) | 1,366 | $ 1,396,843 | |
| $ 1,396,843 | |||
| Automotive — 1.5% | |||
| Asbury Automotive Group, Inc.: | |||
| 4.625%, 11/15/29(1) | 512 | $ 477,194 | |
| 4.75%, 3/1/30 | 1,134 | 1,061,657 | |
| 5.00%, 2/15/32(1) | 217 | 198,189 | |
| Clarios Global LP/Clarios U.S. Finance Co.: | |||
| 4.375%, 5/15/26(13) | EUR | 150 | 155,564 |
| 6.25%, 5/15/26(1) | 1,504 | 1,507,227 | |
| 8.50%, 5/15/27(1) | 3,484 | 3,495,832 | |
| Dana Financing Luxembourg SARL, 8.50%, 7/15/31(13) | EUR | 100 | 113,617 |
| Dornoch Debt Merger Sub, Inc., 6.625%, 10/15/29(1) | 1,030 | 835,416 | |
| Ford Motor Co., 4.75%, 1/15/43 | 53 | 41,831 | |
| Forvia SE: | |||
| 2.375%, 6/15/29(13) | EUR | 100 | 93,192 |
| 2.75%, 2/15/27(13) | EUR | 100 | 99,906 |
| 5.50%, 6/15/31(13) | EUR | 505 | 522,807 |
| Goodyear Tire & Rubber Co., 5.00%, 7/15/29 | 1,433 | 1,317,420 | |
| IHO Verwaltungs GmbH: | |||
| 6.375%, (6.375% cash or 7.125% PIK), 5/15/29(1)(15) | 200 | 193,347 | |
| 8.75%, (8.75% cash or 9.50% PIK), 5/15/28(13)(15) | EUR | 100 | 109,561 |
| Lithia Motors, Inc.: | |||
| 3.875%, 6/1/29(1) | 651 | 595,515 | |
| 4.375%, 1/15/31(1) | 1,171 | 1,066,022 | |
| 4.625%, 12/15/27(1) | 514 | 497,704 | |
| Mahle GmbH, 6.50%, 5/2/31(13) | EUR | 100 | 102,038 |
| RCI Banque SA, 5.50% to 7/9/29, 10/9/34(13)(14) | EUR | 100 | 106,000 |
| Security | Principal Amount* (000's omitted) | Value | |
| Automotive (continued) | |||
| Real Hero Merger Sub 2, Inc., 6.25%, 2/1/29(1) | 2,173 | $ 1,870,228 | |
| Renault SA: | |||
| 2.375%, 5/25/26(13) | EUR | 100 | 102,423 |
| 2.50%, 6/2/27(13) | EUR | 600 | 612,972 |
| Sonic Automotive, Inc.: | |||
| 4.625%, 11/15/29(1) | 1,297 | 1,198,635 | |
| 4.875%, 11/15/31(1) | 1,081 | 970,905 | |
| Volkswagen International Finance NV, 7.875% to 9/6/32(13)(14)(16) | EUR | 200 | 231,383 |
| ZF Europe Finance BV, 6.125%, 3/13/29(13) | EUR | 200 | 212,274 |
| ZF Finance GmbH, 5.75%, 8/3/26(13) | EUR | 100 | 105,665 |
| $ 17,894,524 | |||
| Beverage and Tobacco — 0.2% | |||
| Triton Water Holdings, Inc., 6.25%, 4/1/29(1) | 1,942 | $ 1,929,868 | |
| $ 1,929,868 | |||
| Building and Development — 2.3% | |||
| Ashton Woods USA LLC/Ashton Woods Finance Co.: | |||
| 4.625%, 8/1/29(1) | 392 | $ 361,084 | |
| 4.625%, 4/1/30(1) | 1,097 | 996,505 | |
| Builders FirstSource, Inc.: | |||
| 4.25%, 2/1/32(1) | 2,498 | 2,208,263 | |
| 5.00%, 3/1/30(1) | 1,085 | 1,035,070 | |
| CP Atlas Buyer, Inc., 7.00%, 12/1/28(1) | 2,055 | 1,809,631 | |
| EMRLD Borrower LP/Emerald Co-Issuer, Inc.: | |||
| 6.375%, 12/15/30(13) | EUR | 600 | 658,692 |
| 6.625%, 12/15/30(1) | 1,782 | 1,786,604 | |
| HT Troplast GmbH, 9.375%, 7/15/28(13) | EUR | 125 | 137,325 |
| James Hardie International Finance DAC, 3.625%, 10/1/26(13) | EUR | 400 | 414,638 |
| KB Home: | |||
| 4.00%, 6/15/31 | 86 | 75,997 | |
| 4.80%, 11/15/29 | 556 | 524,656 | |
| Masterbrand, Inc., 7.00%, 7/15/32(1) | 1,620 | 1,633,189 | |
| Meritage Homes Corp., 3.875%, 4/15/29(1) | 596 | 557,512 | |
| Miller Homes Group Finco PLC: | |||
| 7.00%, 5/15/29(13) | GBP | 100 | 121,923 |
| 8.273%, (3 mo. EURIBOR + 5.25%), 5/15/28(2)(13) | EUR | 200 | 208,742 |
| MIWD Holdco II LLC/MIWD Finance Corp., 5.50%, 2/1/30(1) | 559 | 529,415 | |
| Patrick Industries, Inc.: | |||
| 4.75%, 5/1/29(1) | 1,187 | 1,122,653 | |
| 6.375%, 11/1/32(1) | 995 | 963,909 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Building and Development (continued) | |||
| Smyrna Ready Mix Concrete LLC, 6.00%, 11/1/28(1) | 3,078 | $ 3,005,469 | |
| Specialty Building Products Holdings LLC/SBP Finance Corp., 7.75%, 10/15/29(1) | 1,764 | 1,796,318 | |
| Standard Building Solutions, Inc., 6.50%, 8/15/32(1) | 670 | 671,649 | |
| Standard Industries, Inc.: | |||
| 2.25%, 11/21/26(13) | EUR | 125 | 127,020 |
| 3.375%, 1/15/31(1) | 2,339 | 2,007,400 | |
| 4.375%, 7/15/30(1) | 1,779 | 1,631,325 | |
| Summit Materials LLC/Summit Materials Finance Corp., 7.25%, 1/15/31(1) | 1,068 | 1,134,249 | |
| Taylor Morrison Communities, Inc., 5.875%, 6/15/27(1) | 808 | 814,765 | |
| White Cap Buyer LLC, 6.875%, 10/15/28(1) | 1,237 | 1,229,595 | |
| $ 27,563,598 | |||
| Business Equipment and Services — 0.6% | |||
| Adtalem Global Education, Inc., 5.50%, 3/1/28(1) | 1,900 | $ 1,865,626 | |
| Allied Universal Holdco LLC, 7.875%, 2/15/31(1) | 630 | 644,698 | |
| Allied Universal Holdco LLC/Allied Universal Finance Corp.: | |||
| 6.00%, 6/1/29(1) | 1,426 | 1,300,843 | |
| 9.75%, 7/15/27(1) | 1,148 | 1,157,133 | |
| Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL: | |||
| 4.625%, 6/1/28(1) | 1,316 | 1,240,790 | |
| 4.625%, 6/1/28(1) | 549 | 519,543 | |
| $ 6,728,633 | |||
| Cable and Satellite Television — 1.7% | |||
| Altice Financing SA: | |||
| 2.25%, 1/15/25(13) | EUR | 400 | $ 411,336 |
| 3.00%, 1/15/28(13) | EUR | 100 | 80,604 |
| 4.25%, 8/15/29(13) | EUR | 200 | 158,291 |
| 5.00%, 1/15/28(1) | 814 | 637,959 | |
| 5.75%, 8/15/29(1) | 611 | 447,935 | |
| CCO Holdings LLC/CCO Holdings Capital Corp.: | |||
| 4.25%, 2/1/31(1) | 2,589 | 2,259,538 | |
| 4.50%, 8/15/30(1) | 1,814 | 1,630,398 | |
| 4.50%, 5/1/32 | 535 | 460,805 | |
| 4.75%, 3/1/30(1) | 1,789 | 1,635,721 | |
| 5.00%, 2/1/28(1) | 1,755 | 1,693,116 | |
| 5.375%, 6/1/29(1) | 595 | 569,582 | |
| 6.375%, 9/1/29(1) | 1,974 | 1,959,316 | |
| Directv Financing LLC/Directv Financing Co-Obligor, Inc., 5.875%, 8/15/27(1) | 340 | 331,624 | |
| DISH Network Corp., 11.75%, 11/15/27(1) | 1,293 | 1,371,093 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Cable and Satellite Television (continued) | |||
| Virgin Media Finance PLC: | |||
| 3.75%, 7/15/30(13) | EUR | 125 | $ 119,777 |
| 5.00%, 7/15/30(1) | 1,327 | 1,124,844 | |
| Virgin Media O2 Vendor Financing Notes V DAC, 7.875%, 3/15/32(1) | GBP | 120 | 150,151 |
| Virgin Media Secured Finance PLC: | |||
| 4.50%, 8/15/30(1) | 278 | 240,424 | |
| 5.25%, 5/15/29(13) | GBP | 200 | 233,753 |
| Virgin Media Vendor Financing Notes III DAC, 4.875%, 7/15/28(13) | GBP | 725 | 848,144 |
| Virgin Media Vendor Financing Notes IV DAC, 5.00%, 7/15/28(1) | 1,862 | 1,765,275 | |
| VZ Vendor Financing II BV, 2.875%, 1/15/29(13) | EUR | 200 | 190,530 |
| Ziggo Bond Co. BV: | |||
| 3.375%, 2/28/30(13) | EUR | 230 | 217,686 |
| 5.125%, 2/28/30(1) | 560 | 505,329 | |
| 6.00%, 1/15/27(1) | 745 | 739,605 | |
| Ziggo BV, 4.875%, 1/15/30(1) | 628 | 578,161 | |
| $ 20,360,997 | |||
| Capital Goods — 0.1% | |||
| BWX Technologies, Inc.: | |||
| 4.125%, 6/30/28(1) | 948 | $ 888,381 | |
| 4.125%, 4/15/29(1) | 733 | 683,848 | |
| $ 1,572,229 | |||
| Chemicals — 0.3% | |||
| Calderys Financing II LLC, 11.75%, (11.75% cash or 12.50% PIK), 6/1/28(1)(15) | 1,360 | $ 1,384,588 | |
| Calderys Financing LLC, 11.25%, 6/1/28(1) | 2,315 | 2,480,851 | |
| CTEC II GmbH, 5.25%, 2/15/30(13) | EUR | 250 | 239,469 |
| $ 4,104,908 | |||
| Chemicals and Plastics — 1.1% | |||
| ASK Chemicals Deutschland Holding GmbH, 10.00%, 11/15/29(13) | EUR | 300 | $ 306,762 |
| Avient Corp.: | |||
| 6.25%, 11/1/31(1) | 893 | 881,819 | |
| 7.125%, 8/1/30(1) | 1,762 | 1,807,422 | |
| Cerdia Finanz GmbH, 9.375%, 10/3/31(1) | 2,419 | 2,523,428 | |
| Herens Holdco SARL, 4.75%, 5/15/28(1) | 545 | 503,500 | |
| Herens Midco SARL, 5.25%, 5/15/29(13) | EUR | 400 | 345,438 |
| INEOS Finance PLC: | |||
| 2.875%, 5/1/26(13) | EUR | 100 | 103,313 |
| 6.375%, 4/15/29(13) | EUR | 100 | 108,859 |
| Security | Principal Amount* (000's omitted) | Value | |
| Chemicals and Plastics (continued) | |||
| Italmatch Chemicals SpA, 10.00%, 2/6/28(13) | EUR | 400 | $ 438,762 |
| Nufarm Australia Ltd./Nufarm Americas, Inc., 5.00%, 1/27/30(1) | 1,648 | 1,520,019 | |
| Olympus Water U.S. Holding Corp.: | |||
| 3.875%, 10/1/28(13) | EUR | 110 | 111,493 |
| 9.625%, 11/15/28(13) | EUR | 525 | 580,569 |
| 9.75%, 11/15/28(1) | 2,512 | 2,668,413 | |
| Valvoline, Inc., 3.625%, 6/15/31(1) | 1,403 | 1,202,074 | |
| $ 13,101,871 | |||
| Clothing/Textiles — 0.2% | |||
| Hanesbrands, Inc., 9.00%, 2/15/31(1) | 1,710 | $ 1,824,973 | |
| PrestigeBidCo GmbH, 6.929%, (3 mo. EURIBOR + 3.75%), 7/1/29(2)(13) | EUR | 100 | 105,310 |
| William Carter Co., 5.625%, 3/15/27(1) | 811 | 804,845 | |
| $ 2,735,128 | |||
| Commercial Services — 2.1% | |||
| Amber Finco PLC, 6.625%, 7/15/29(1) | EUR | 165 | $ 181,151 |
| AMN Healthcare, Inc.: | |||
| 4.00%, 4/15/29(1) | 2,227 | 2,008,603 | |
| 4.625%, 10/1/27(1) | 156 | 148,999 | |
| APi Group DE, Inc., 4.75%, 10/15/29(1) | 2,510 | 2,372,833 | |
| BCP V Modular Services Finance II PLC, 4.75%, 11/30/28(13) | EUR | 100 | 101,972 |
| Belron U.K. Finance PLC: | |||
| 4.625%, 10/15/29(1) | EUR | 230 | 244,529 |
| 5.75%, 10/15/29(1) | 1,853 | 1,835,506 | |
| Boels Topholding BV, 5.75%, 5/15/30(13) | EUR | 430 | 467,074 |
| Boost Newco Borrower LLC, 7.50%, 1/15/31(1) | 1,328 | 1,393,277 | |
| Boost Newco Borrower LLC/GTCR W Dutch Finance Sub BV, 8.50%, 1/15/31(13) | GBP | 200 | 268,461 |
| Cimpress PLC, 7.375%, 9/15/32(1) | 885 | 880,308 | |
| HealthEquity, Inc., 4.50%, 10/1/29(1) | 1,674 | 1,571,224 | |
| IPD 3 BV, 8.00%, 6/15/28(13) | EUR | 425 | 465,550 |
| Korn Ferry, 4.625%, 12/15/27(1) | 1,412 | 1,364,442 | |
| Loxam SAS, 2.875%, 4/15/26(13) | EUR | 100 | 103,138 |
| Mavis Tire Express Services Topco Corp., 6.50%, 5/15/29(1) | 2,923 | 2,806,288 | |
| NESCO Holdings II, Inc., 5.50%, 4/15/29(1) | 1,647 | 1,530,005 | |
| Pachelbel Bidco SpA: | |||
| 7.125%, 5/17/31(1) | EUR | 120 | 133,493 |
| 7.125%, 5/17/31(13) | EUR | 100 | 111,244 |
| Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc., 6.75%, 8/15/32(1) | 1,046 | 1,064,710 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Commercial Services (continued) | |||
| Spectrum Brands, Inc., 3.875%, 3/15/31(1) | 266 | $ 230,235 | |
| Techem Verwaltungsgesellschaft 675 GmbH, 5.375%, 7/15/29(13) | EUR | 200 | 214,796 |
| Verisure Holding AB: | |||
| 3.25%, 2/15/27(13) | EUR | 200 | 204,551 |
| 9.25%, 10/15/27(13) | EUR | 100 | 108,876 |
| VT Topco, Inc., 8.50%, 8/15/30(1) | 2,193 | 2,325,435 | |
| Wand NewCo 3, Inc., 7.625%, 1/30/32(1) | 1,234 | 1,268,730 | |
| WASH Multifamily Acquisition, Inc., 5.75%, 4/15/26(1) | 2,060 | 2,053,723 | |
| $ 25,459,153 | |||
| Computers — 0.7% | |||
| Amentum Holdings, Inc., 7.25%, 8/1/32(1) | 1,042 | $ 1,051,084 | |
| Diebold Nixdorf, Inc., 7.75%, 3/31/30(1) | 1,085 | 1,116,522 | |
| Insight Enterprises, Inc., 6.625%, 5/15/32(1) | 1,272 | 1,280,787 | |
| McAfee Corp., 7.375%, 2/15/30(1) | 2,175 | 2,115,169 | |
| Seagate HDD Cayman: | |||
| 4.091%, 6/1/29 | 418 | 390,195 | |
| 9.625%, 12/1/32 | 1,800 | 2,030,964 | |
| $ 7,984,721 | |||
| Containers and Glass Products — 0.5% | |||
| Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC: | |||
| 3.00%, 9/1/29(13) | EUR | 1,225 | $ 1,084,866 |
| 4.00%, 9/1/29(1) | 1,139 | 979,703 | |
| Berry Global, Inc., 5.625%, 7/15/27(1) | 968 | 967,371 | |
| Canpack SA/Canpack U.S. LLC, 3.875%, 11/15/29(1) | 2,027 | 1,827,177 | |
| Crown Americas LLC/Crown Americas Capital Corp. V, 4.25%, 9/30/26 | 660 | 646,316 | |
| Crown Americas LLC/Crown Americas Capital Corp. VI, 4.75%, 2/1/26 | 750 | 742,429 | |
| $ 6,247,862 | |||
| Cosmetics/Toiletries — 0.1% | |||
| Edgewell Personal Care Co.: | |||
| 4.125%, 4/1/29(1) | 441 | $ 407,091 | |
| 5.50%, 6/1/28(1) | 1,067 | 1,045,296 | |
| $ 1,452,387 | |||
| Distribution & Wholesale — 0.9% | |||
| BCPE Empire Holdings, Inc., 7.625%, 5/1/27(1) | 1,959 | $ 1,954,306 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Distribution & Wholesale (continued) | |||
| Performance Food Group, Inc.: | |||
| 4.25%, 8/1/29(1) | 2,429 | $ 2,256,427 | |
| 5.50%, 10/15/27(1) | 935 | 928,064 | |
| 6.125%, 9/15/32(1) | 960 | 961,156 | |
| Rexel SA, 5.25%, 9/15/30(13) | EUR | 150 | 163,628 |
| Ritchie Bros Holdings, Inc.: | |||
| 6.75%, 3/15/28(1) | 1,132 | 1,158,761 | |
| 7.75%, 3/15/31(1) | 422 | 441,830 | |
| Travis Perkins PLC, 3.75%, 2/17/26(13) | GBP | 125 | 153,108 |
| Windsor Holdings III LLC, 8.50%, 6/15/30(1) | 2,347 | 2,472,473 | |
| $ 10,489,753 | |||
| Diversified Financial Services — 1.1% | |||
| American AgCredit Corp., Series A, 5.25% to 6/15/26(1)(14)(16) | 410 | $ 401,744 | |
| CI Financial Corp., 4.10%, 6/15/51 | 1,380 | 954,968 | |
| Encore Capital Group, Inc., 7.429%, (3 mo. EURIBOR + 4.25%), 1/15/28(2)(13) | EUR | 100 | 104,624 |
| Focus Financial Partners LLC, 6.75%, 9/15/31(1) | 1,600 | 1,595,402 | |
| Hightower Holding LLC, 9.125%, 1/31/30(1) | 1,441 | 1,519,239 | |
| Jane Street Group/JSG Finance, Inc.: | |||
| 4.50%, 11/15/29(1) | 1,101 | 1,031,920 | |
| 6.125%, 11/1/32(1) | 1,380 | 1,368,133 | |
| Macquarie Airfinance Holdings Ltd.: | |||
| 6.40%, 3/26/29(1) | 465 | 478,807 | |
| 6.50%, 3/26/31(1) | 562 | 582,396 | |
| 8.125%, 3/30/29(1) | 1,530 | 1,623,189 | |
| ProGroup AG: | |||
| 5.125%, 4/15/29(13) | EUR | 164 | 167,575 |
| 5.375%, 4/15/31(13) | EUR | 333 | 338,544 |
| Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc.: | |||
| 3.625%, 3/1/29(1) | 2,648 | 2,399,929 | |
| 4.00%, 10/15/33(1) | 225 | 187,603 | |
| Sherwood Financing PLC, 7.625%, 12/15/29(13) | EUR | 390 | 403,709 |
| Unifin Financiera SAB de CV: | |||
| 7.375%, 2/12/26(1)(9)(17) | 620 | 0 | |
| 7.375%, 2/12/26(1)(9)(17) | 620 | 0 | |
| $ 13,157,782 | |||
| Drugs — 0.2% | |||
| Perrigo Finance Unlimited Co.: | |||
| 4.90%, 6/15/30 | 2,255 | $ 2,115,017 | |
| 4.90%, 12/15/44 | 588 | 458,301 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Drugs (continued) | |||
| Perrigo Finance Unlimited Co.: (continued) | |||
| 5.375%, 9/30/32 | EUR | 250 | $ 268,712 |
| $ 2,842,030 | |||
| Ecological Services and Equipment — 0.9% | |||
| Clean Harbors, Inc.: | |||
| 4.875%, 7/15/27(1) | 551 | $ 540,244 | |
| 5.125%, 7/15/29(1) | 332 | 319,008 | |
| 6.375%, 2/1/31(1) | 643 | 647,916 | |
| GFL Environmental, Inc.: | |||
| 3.50%, 9/1/28(1) | 1,679 | 1,583,778 | |
| 3.75%, 8/1/25(1) | 776 | 769,412 | |
| 4.375%, 8/15/29(1) | 2,000 | 1,892,357 | |
| 4.75%, 6/15/29(1) | 3,095 | 2,974,920 | |
| Paprec Holding SA, 7.25%, 11/17/29(13) | EUR | 100 | 110,120 |
| Reworld Holding Corp.: | |||
| 4.875%, 12/1/29(1) | 1,536 | 1,422,220 | |
| 5.00%, 9/1/30 | 319 | 294,875 | |
| Wrangler Holdco Corp., 6.625%, 4/1/32(1) | 690 | 703,120 | |
| $ 11,257,970 | |||
| Electric Utilities — 0.9% | |||
| Alpha Generation LLC, 6.75%, 10/15/32(1) | 2,265 | $ 2,243,029 | |
| Atlantica Sustainable Infrastructure PLC, 4.125%, 6/15/28(1) | 660 | 624,010 | |
| California Buyer Ltd./Atlantica Sustainable Infrastructure PLC: | |||
| 5.625%, 2/15/32(1) | EUR | 385 | 416,053 |
| 5.625%, 2/15/32(13) | EUR | 100 | 108,184 |
| 6.375%, 2/15/32(1) | 1,115 | 1,112,888 | |
| Electricite de France SA, 7.50% to 9/6/28(13)(14)(16) | EUR | 400 | 458,069 |
| Enel SpA, 6.625% to 4/16/31(13)(14)(16) | EUR | 300 | 347,592 |
| Metlen Energy & Metals SA, 4.00%, 10/17/29(13) | EUR | 200 | 211,715 |
| Nexans SA, 4.125%, 5/29/29(13) | EUR | 100 | 106,297 |
| Pattern Energy Operations LP/Pattern Energy Operations, Inc., 4.50%, 8/15/28(1) | 1,112 | 1,044,419 | |
| Public Power Corp. SA, 4.625%, 10/31/31(13) | EUR | 300 | 317,873 |
| TransAlta Corp., 7.75%, 11/15/29 | 1,045 | 1,090,612 | |
| WESCO Distribution, Inc.: | |||
| 6.375%, 3/15/29(1) | 848 | 860,394 | |
| 6.625%, 3/15/32(1) | 854 | 869,051 | |
| 7.25%, 6/15/28(1) | 915 | 931,112 | |
| $ 10,741,298 | |||
| Security | Principal Amount* (000's omitted) | Value | |
| Electronics/Electrical — 0.8% | |||
| Castello BC Bidco SpA: | |||
| 7.505%, (3 mo. EURIBOR + 4.50%), 11/14/31(2)(13) | EUR | 220 | $ 229,308 |
| 7.505%, (3 mo. EURIBOR + 4.50%), 11/14/31(1)(2) | EUR | 125 | 130,289 |
| Coherent Corp., 5.00%, 12/15/29(1) | 1,219 | 1,164,434 | |
| EquipmentShare.com, Inc., 8.625%, 5/15/32(1) | 825 | 863,196 | |
| Imola Merger Corp., 4.75%, 5/15/29(1) | 3,165 | 3,003,966 | |
| Open Text Corp., 3.875%, 2/15/28(1) | 1,009 | 951,358 | |
| Open Text Holdings, Inc., 4.125%, 2/15/30(1) | 883 | 801,570 | |
| RWE AG, 6.625% to 3/30/26, 7/30/75(13)(14) | 266 | 269,022 | |
| Sensata Technologies, Inc.: | |||
| 3.75%, 2/15/31(1) | 1,660 | 1,453,052 | |
| 4.375%, 2/15/30(1) | 627 | 574,932 | |
| 6.625%, 7/15/32(1) | 400 | 401,398 | |
| SS&C Technologies, Inc., 5.50%, 9/30/27(1) | 517 | 512,485 | |
| $ 10,355,010 | |||
| Energy — 0.2% | |||
| Enviva Partners LP/Enviva Partners Finance Corp., 6.50%, 1/15/26 | 1,391 | $ 0 | |
| Sunoco LP, 7.25%, 5/1/32(1) | 1,130 | 1,168,154 | |
| Sunoco LP/Sunoco Finance Corp., 4.50%, 4/30/30 | 1,692 | 1,570,503 | |
| $ 2,738,657 | |||
| Engineering & Construction — 0.7% | |||
| Arcosa, Inc., 6.875%, 8/15/32(1) | 1,046 | $ 1,064,059 | |
| Artera Services LLC, 8.50%, 2/15/31(1) | 1,535 | 1,481,140 | |
| Brundage-Bone Concrete Pumping Holdings, Inc., 6.00%, 2/1/26(1) | 1,038 | 1,038,440 | |
| Dycom Industries, Inc., 4.50%, 4/15/29(1) | 1,389 | 1,298,519 | |
| TopBuild Corp., 4.125%, 2/15/32(1) | 1,562 | 1,384,953 | |
| VM Consolidated, Inc., 5.50%, 4/15/29(1) | 1,899 | 1,849,629 | |
| $ 8,116,740 | |||
| Entertainment — 1.4% | |||
| Allwyn Entertainment Financing U.K. PLC: | |||
| 7.25%, 4/30/30(13) | EUR | 525 | $ 583,089 |
| 7.875%, 4/30/29(1) | 1,985 | 2,047,716 | |
| Boyne USA, Inc., 4.75%, 5/15/29(1) | 1,357 | 1,287,456 | |
| Caesars Entertainment, Inc.: | |||
| 4.625%, 10/15/29(1) | 529 | 495,706 | |
| 6.00%, 10/15/32(1) | 1,090 | 1,051,968 | |
| 6.50%, 2/15/32(1) | 1,068 | 1,073,691 | |
| 7.00%, 2/15/30(1) | 800 | 815,424 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Entertainment (continued) | |||
| Caesars Entertainment, Inc.: (continued) | |||
| 8.125%, 7/1/27(1) | 538 | $ 543,820 | |
| Churchill Downs, Inc., 5.75%, 4/1/30(1) | 1,751 | 1,719,697 | |
| Cirsa Finance International SARL: | |||
| 4.50%, 3/15/27(13) | EUR | 200 | 207,780 |
| 6.50%, 3/15/29(13) | EUR | 200 | 219,197 |
| 7.875%, 7/31/28(13) | EUR | 100 | 109,802 |
| CPUK Finance Ltd.: | |||
| 4.50%, 8/28/27(13) | GBP | 200 | 238,361 |
| 6.50%, 8/28/26(13) | GBP | 100 | 124,933 |
| 7.875%, 8/28/29(13) | GBP | 130 | 167,433 |
| Flutter Treasury DAC, 5.00%, 4/29/29(13) | EUR | 135 | 145,831 |
| Inter Media and Communication SpA, 6.75%, 2/9/27(13) | EUR | 747 | 788,976 |
| Light & Wonder International, Inc., 7.00%, 5/15/28(1) | 1,647 | 1,651,816 | |
| Live Nation Entertainment, Inc., 4.75%, 10/15/27(1) | 1,226 | 1,186,345 | |
| Lottomatica Group SpA, 6.939%, (3 mo. EURIBOR + 4.00%), 12/15/30(2)(13) | EUR | 200 | 210,796 |
| Motion Finco SARL, 7.375%, 6/15/30(13) | EUR | 300 | 316,866 |
| Speedway Motorsports LLC/Speedway Funding II, Inc., 4.875%, 11/1/27(1) | 1,515 | 1,481,023 | |
| $ 16,467,726 | |||
| Financial Intermediaries — 0.4% | |||
| Ally Financial, Inc., Series B, 4.70% to 5/15/26(14)(16) | 1,647 | $ 1,542,071 | |
| Alpha Holding SA de CV: | |||
| 9.00%, 2/10/25(1)(17) | 721 | 9,015 | |
| 10.00%, 12/19/22(1)(17) | 188 | 2,354 | |
| Compass Group Diversified Holdings LLC, 5.25%, 4/15/29(1) | 1,807 | 1,735,821 | |
| Ford Motor Credit Co. LLC, 2.90%, 2/16/28 | 420 | 387,823 | |
| MSCI, Inc.: | |||
| 3.625%, 9/1/30(1) | 520 | 475,324 | |
| 3.875%, 2/15/31(1) | 899 | 823,741 | |
| $ 4,976,149 | |||
| Financial Services — 0.2% | |||
| Viet Nam Debt & Asset Trading Corp., 1.00%, 10/10/25(13) | 2,600 | $ 2,462,543 | |
| $ 2,462,543 | |||
| Food Products — 0.6% | |||
| Flora Food Management BV, 6.875%, 7/2/29(13) | EUR | 110 | $ 119,145 |
| Ingles Markets, Inc., 4.00%, 6/15/31(1) | 1,502 | 1,331,030 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Food Products (continued) | |||
| Irca SpA/Gallarate, 6.631%, (3 mo. EURIBOR + 3.75%), 12/15/29(2)(13) | EUR | 130 | $ 136,321 |
| La Doria SpA, 7.552%, (3 mo. EURIBOR + 4.50%), 11/12/29(2)(13) | EUR | 200 | 210,750 |
| Lion/Polaris Lux 4 SA, 6.303%, (3 mo. EURIBOR + 3.625%), 7/1/29(1)(2) | EUR | 100 | 104,155 |
| Market Bidco Finco PLC, 4.75%, 11/4/27(13) | EUR | 125 | 126,902 |
| Nomad Foods Bondco PLC, 2.50%, 6/24/28(13) | EUR | 236 | 234,875 |
| Picard Groupe SAS, 6.375%, 7/1/29(1) | EUR | 100 | 107,996 |
| Pilgrim's Pride Corp.: | |||
| 3.50%, 3/1/32 | 1,979 | 1,709,019 | |
| 6.875%, 5/15/34 | 740 | 787,803 | |
| Post Holdings, Inc., 6.25%, 2/15/32(1) | 1,176 | 1,168,635 | |
| Premier Foods Finance PLC, 3.50%, 10/15/26(13) | GBP | 125 | 153,252 |
| Viking Baked Goods Acquisition Corp., 8.625%, 11/1/31(1) | 1,425 | 1,403,420 | |
| $ 7,593,303 | |||
| Food Service — 1.0% | |||
| 1011778 BC ULC/New Red Finance, Inc.: | |||
| 3.875%, 1/15/28(1) | 1,906 | $ 1,804,124 | |
| 4.00%, 10/15/30(1) | 2,705 | 2,421,632 | |
| 4.375%, 1/15/28(1) | 1,014 | 969,464 | |
| Chobani Holdco II LLC, 8.75%, (8.75% cash or 9.50% PIK), 10/1/29(1)(15) | 2,470 | 2,618,245 | |
| Chobani LLC/Chobani Finance Corp., Inc.: | |||
| 4.625%, 11/15/28(1) | 175 | 168,648 | |
| 7.625%, 7/1/29(1) | 2,278 | 2,358,493 | |
| U.S. Foods, Inc., 4.75%, 2/15/29(1) | 1,837 | 1,761,103 | |
| Yum! Brands, Inc., 3.625%, 3/15/31 | 603 | 533,665 | |
| $ 12,635,374 | |||
| Food/Drug Retailers — 0.3% | |||
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC: | |||
| 4.875%, 2/15/30(1) | 1,028 | $ 980,440 | |
| 5.875%, 2/15/28(1) | 2,145 | 2,137,921 | |
| $ 3,118,361 | |||
| Forest Products & Paper — 0.1% | |||
| WEPA Hygieneprodukte GmbH, 5.625%, 1/15/31(13) | EUR | 660 | $ 712,050 |
| $ 712,050 | |||
| Health Care — 3.1% | |||
| AHP Health Partners, Inc., 5.75%, 7/15/29(1) | 577 | $ 561,008 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Health Care (continued) | |||
| Cerba Healthcare SACA, 3.50%, 5/31/28(13) | EUR | 550 | $ 472,092 |
| Chrome Holdco SAS, 5.00%, 5/31/29(13) | EUR | 200 | 116,629 |
| CHS/Community Health Systems, Inc., 6.875%, 4/15/29(1) | 1,615 | 1,221,722 | |
| Concentra Escrow Issuer Corp., 6.875%, 7/15/32(1) | 480 | 490,661 | |
| Encompass Health Corp.: | |||
| 4.625%, 4/1/31 | 683 | 631,259 | |
| 4.75%, 2/1/30 | 639 | 606,233 | |
| Ephios Subco 3 SARL, 7.875%, 1/31/31(13) | EUR | 160 | 180,798 |
| Fortrea Holdings, Inc., 7.50%, 7/1/30(1) | 1,427 | 1,431,151 | |
| Heartland Dental LLC/Heartland Dental Finance Corp., 10.50%, 4/30/28(1) | 4,006 | 4,252,197 | |
| IQVIA, Inc.: | |||
| 2.25%, 1/15/28(13) | EUR | 250 | 249,563 |
| 2.25%, 3/15/29(13) | EUR | 300 | 296,922 |
| 2.875%, 6/15/28(13) | EUR | 100 | 101,520 |
| 5.00%, 10/15/26(1) | 850 | 839,286 | |
| 5.00%, 5/15/27(1) | 685 | 674,908 | |
| 6.50%, 5/15/30(1) | 825 | 840,305 | |
| LifePoint Health, Inc.: | |||
| 4.375%, 2/15/27(1) | 989 | 948,670 | |
| 5.375%, 1/15/29(1) | 2,888 | 2,535,170 | |
| 9.875%, 8/15/30(1) | 825 | 891,171 | |
| 10.00%, 6/1/32(1) | 375 | 381,749 | |
| Medline Borrower LP, 5.25%, 10/1/29(1) | 4,431 | 4,280,408 | |
| Molina Healthcare, Inc.: | |||
| 3.875%, 11/15/30(1) | 1,330 | 1,184,897 | |
| 3.875%, 5/15/32(1) | 1,450 | 1,259,401 | |
| 6.25%, 1/15/33(1) | 885 | 875,488 | |
| Option Care Health, Inc., 4.375%, 10/31/29(1) | 1,991 | 1,838,039 | |
| Surgery Center Holdings, Inc., 7.25%, 4/15/32(1) | 1,320 | 1,348,174 | |
| Team Health Holdings, Inc., 13.50%, (9.00% cash and 4.50% PIK), 6/30/28(1) | 1,662 | 1,838,794 | |
| Tenet Healthcare Corp.: | |||
| 4.375%, 1/15/30 | 187 | 173,824 | |
| 5.125%, 11/1/27 | 1,607 | 1,575,250 | |
| 6.125%, 10/1/28 | 1,593 | 1,591,471 | |
| 6.875%, 11/15/31 | 878 | 913,297 | |
| U.S. Acute Care Solutions LLC, 9.75%, 5/15/29(1) | 2,195 | 2,239,689 | |
| Varex Imaging Corp., 7.875%, 10/15/27(1) | 558 | 571,465 | |
| $ 37,413,211 | |||
| Home Furnishings — 0.2% | |||
| Tempur Sealy International, Inc.: | |||
| 3.875%, 10/15/31(1) | 1,932 | $ 1,687,256 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Home Furnishings (continued) | |||
| Tempur Sealy International, Inc.: (continued) | |||
| 4.00%, 4/15/29(1) | 968 | $ 892,815 | |
| $ 2,580,071 | |||
| Homebuilders/Real Estate — 0.0%(12) | |||
| M/I Homes, Inc., 4.95%, 2/1/28 | 459 | $ 445,824 | |
| $ 445,824 | |||
| Industrial Equipment — 0.2% | |||
| Alstom SA, 5.868% to 5/29/29(13)(14)(16) | EUR | 200 | $ 217,591 |
| Madison IAQ LLC, 5.875%, 6/30/29(1) | 1,660 | 1,569,255 | |
| TK Elevator Holdco GmbH, 6.625%, 7/15/28(13) | EUR | 270 | 280,955 |
| TK Elevator Midco GmbH, 4.375%, 7/15/27(13) | EUR | 525 | 543,957 |
| $ 2,611,758 | |||
| Insurance — 0.9% | |||
| Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer: | |||
| 6.50%, 10/1/31(1) | 370 | $ 366,808 | |
| 6.75%, 10/15/27(1) | 2,323 | 2,306,135 | |
| 7.00%, 1/15/31(1) | 808 | 812,041 | |
| 7.375%, 10/1/32(1) | 285 | 287,979 | |
| AmWINS Group, Inc., 4.875%, 6/30/29(1) | 1,010 | 953,059 | |
| AssuredPartners, Inc., 5.625%, 1/15/29(1) | 450 | 455,477 | |
| Galaxy Bidco Ltd., 8.125%, 12/19/29(13) | GBP | 400 | 504,401 |
| Jones Deslauriers Insurance Management, Inc., 10.50%, 12/15/30(1) | 1,539 | 1,666,514 | |
| Panther Escrow Issuer LLC, 7.125%, 6/1/31(1) | 2,679 | 2,708,695 | |
| Ryan Specialty LLC, 5.875%, 8/1/32(1) | 1,398 | 1,384,164 | |
| $ 11,445,273 | |||
| Internet Software & Services — 0.6% | |||
| Arches Buyer, Inc.: | |||
| 4.25%, 6/1/28(1) | 655 | $ 602,289 | |
| 6.125%, 12/1/28(1) | 1,854 | 1,657,293 | |
| Cars.com, Inc., 6.375%, 11/1/28(1) | 1,770 | 1,761,621 | |
| Match Group Holdings II LLC, 3.625%, 10/1/31(1) | 1,727 | 1,479,911 | |
| Science Applications International Corp., 4.875%, 4/1/28(1) | 1,487 | 1,432,098 | |
| United Group BV: | |||
| 6.50%, 10/31/31(1) | EUR | 245 | 259,129 |
| 6.75%, 2/15/31(13) | EUR | 120 | 128,835 |
| 7.273%, (3 mo. EURIBOR + 4.25%), 2/15/31(2)(13) | EUR | 100 | 103,815 |
| $ 7,424,991 | |||
| Security | Principal Amount* (000's omitted) | Value | |
| Leisure Goods/Activities/Movies — 2.0% | |||
| Acushnet Co., 7.375%, 10/15/28(1) | 1,142 | $ 1,181,767 | |
| Carnival Corp.: | |||
| 5.75%, 3/1/27(1) | 1,316 | 1,314,065 | |
| 5.75%, 1/15/30(13) | EUR | 100 | 112,447 |
| 6.00%, 5/1/29(1) | 2,862 | 2,857,419 | |
| Cinemark USA, Inc.: | |||
| 5.25%, 7/15/28(1) | 1,481 | 1,445,625 | |
| 7.00%, 8/1/32(1) | 1,015 | 1,036,665 | |
| LHMC Finco 2 SARL, 7.25%, (7.25% cash or 8.00% PIK), 10/2/25(13)(15) | EUR | 158 | 164,438 |
| Life Time, Inc.: | |||
| 5.75%, 1/15/26(1) | 1,268 | 1,267,480 | |
| 8.00%, 4/15/26(1) | 846 | 847,451 | |
| NCL Corp. Ltd.: | |||
| 5.875%, 3/15/26(1) | 2,601 | 2,599,382 | |
| 5.875%, 2/15/27(1) | 517 | 515,761 | |
| 7.75%, 2/15/29(1) | 433 | 455,016 | |
| NCL Finance Ltd., 6.125%, 3/15/28(1) | 704 | 706,787 | |
| Piaggio & C SpA, 6.50%, 10/5/30(13) | EUR | 200 | 222,181 |
| Playtika Holding Corp., 4.25%, 3/15/29(1) | 1,511 | 1,375,564 | |
| Royal Caribbean Cruises Ltd.: | |||
| 3.70%, 3/15/28 | 590 | 559,841 | |
| 6.00%, 2/1/33(1) | 1,105 | 1,103,171 | |
| 6.25%, 3/15/32(1) | 845 | 855,774 | |
| TUI AG, 5.875%, 3/15/29(13) | EUR | 600 | 652,687 |
| TUI Cruises GmbH, 6.25%, 4/15/29(13) | EUR | 250 | 273,775 |
| Viking Cruises Ltd.: | |||
| 5.875%, 9/15/27(1) | 2,472 | 2,461,518 | |
| 6.25%, 5/15/25(1) | 1,690 | 1,691,593 | |
| 7.00%, 2/15/29(1) | 658 | 662,275 | |
| Viking Ocean Cruises Ship VII Ltd., 5.625%, 2/15/29(1) | 422 | 415,635 | |
| $ 24,778,317 | |||
| Lodging and Casinos — 0.2% | |||
| Genting New York LLC/GENNY Capital, Inc., 7.25%, 10/1/29(1) | 1,598 | $ 1,647,847 | |
| TVL Finance PLC, 10.25%, 4/28/28(13) | GBP | 220 | 286,469 |
| $ 1,934,316 | |||
| Machinery — 0.3% | |||
| Chart Industries, Inc., 9.50%, 1/1/31(1) | 1,984 | $ 2,134,316 | |
| Dynamo Newco II GmbH, 6.25%, 10/15/31(1) | EUR | 235 | 250,925 |
| Esab Corp., 6.25%, 4/15/29(1) | 1,083 | 1,097,826 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Machinery (continued) | |||
| EVOCA SpA, 8.518%, (3 mo. EURIBOR + 5.25%), 4/9/29(2)(13) | EUR | 444 | $ 462,878 |
| IMA Industria Macchine Automatiche SpA: | |||
| 3.75%, 1/15/28(13) | EUR | 121 | 123,510 |
| 6.929%, (3 mo. EURIBOR + 3.75%), 4/15/29(2)(13) | EUR | 150 | 156,467 |
| $ 4,225,922 | |||
| Media — 0.5% | |||
| CMG Media Corp., 8.875%, 6/18/29(1) | 490 | $ 368,838 | |
| CSC Holdings LLC: | |||
| 5.50%, 4/15/27(1) | 855 | 766,182 | |
| 11.75%, 1/31/29(1) | 1,051 | 1,038,599 | |
| iHeartCommunications, Inc., 9.125%, 5/1/29(1) | 170 | 148,450 | |
| Outfront Media Capital LLC/Outfront Media Capital Corp.: | |||
| 4.25%, 1/15/29(1) | 610 | 567,891 | |
| 4.625%, 3/15/30(1) | 925 | 855,489 | |
| 7.375%, 2/15/31(1) | 1,475 | 1,543,021 | |
| Summer BidCo BV, 10.00%, (10.00% cash or 10.75% PIK), 2/15/29(13)(15) | EUR | 431 | 456,955 |
| $ 5,745,425 | |||
| Metals/Mining — 1.4% | |||
| Arsenal AIC Parent LLC, 11.50%, 10/1/31(1) | 3,254 | $ 3,644,581 | |
| Compass Minerals International, Inc., 6.75%, 12/1/27(1) | 2,449 | 2,414,905 | |
| Constellium SE: | |||
| 3.75%, 4/15/29(1) | 970 | 878,878 | |
| 5.625%, 6/15/28(1) | 630 | 619,174 | |
| First Quantum Minerals Ltd., 9.375%, 3/1/29(1) | 2,198 | 2,340,210 | |
| Freeport-McMoRan, Inc., 5.45%, 3/15/43 | 1,600 | 1,496,245 | |
| Hudbay Minerals, Inc.: | |||
| 4.50%, 4/1/26(1) | 1,085 | 1,070,475 | |
| 6.125%, 4/1/29(1) | 489 | 491,370 | |
| Novelis Corp.: | |||
| 3.25%, 11/15/26(1) | 690 | 657,843 | |
| 4.75%, 1/30/30(1) | 1,068 | 986,967 | |
| Novelis Sheet Ingot GmbH, 3.375%, 4/15/29(13) | EUR | 600 | 598,139 |
| Roller Bearing Co. of America, Inc., 4.375%, 10/15/29(1) | 1,513 | 1,415,600 | |
| $ 16,614,387 | |||
| Nonferrous Metals/Minerals — 0.2% | |||
| Eldorado Gold Corp., 6.25%, 9/1/29(1) | 1,333 | $ 1,315,586 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Nonferrous Metals/Minerals (continued) | |||
| New Gold, Inc., 7.50%, 7/15/27(1) | 1,379 | $ 1,391,732 | |
| $ 2,707,318 | |||
| Oil and Gas — 1.9% | |||
| Aethon United BR LP/Aethon United Finance Corp., 7.50%, 10/1/29(1) | 1,475 | $ 1,509,881 | |
| Civitas Resources, Inc., 8.625%, 11/1/30(1) | 2,273 | 2,382,458 | |
| Expand Energy Corp., 4.75%, 2/1/32 | 1,485 | 1,383,247 | |
| Matador Resources Co., 6.50%, 4/15/32(1) | 1,400 | 1,386,528 | |
| Nabors Industries Ltd., 7.50%, 1/15/28(1) | 665 | 616,413 | |
| Parkland Corp.: | |||
| 4.50%, 10/1/29(1) | 376 | 349,012 | |
| 4.625%, 5/1/30(1) | 1,501 | 1,379,180 | |
| Permian Resources Operating LLC: | |||
| 5.375%, 1/15/26(1) | 232 | 230,783 | |
| 5.875%, 7/1/29(1) | 2,252 | 2,211,300 | |
| 6.25%, 2/1/33(1) | 935 | 923,696 | |
| 7.00%, 1/15/32(1) | 1,214 | 1,233,533 | |
| Petroleos de Venezuela SA: | |||
| 5.375%, 4/12/27(13)(17) | 1,233 | 134,408 | |
| 5.50%, 4/12/37(13)(17) | 432 | 44,668 | |
| 6.00%, 10/28/22(13)(17) | 308 | 29,728 | |
| 6.00%, 5/16/24(13)(17) | 1,578 | 165,704 | |
| 6.00%, 11/15/26(13)(17) | 897 | 94,201 | |
| 8.50%, 10/27/20(13)(17) | 75 | 66,141 | |
| 9.00%, 11/17/21(13)(17) | 566 | 60,257 | |
| 9.75%, 5/17/35(13)(17) | 635 | 71,449 | |
| 12.75%, 2/17/22(13)(17) | 393 | 44,519 | |
| Petroleos Mexicanos: | |||
| 6.75%, 9/21/47 | 290 | 199,583 | |
| 6.84%, 1/23/30 | 713 | 651,859 | |
| Precision Drilling Corp.: | |||
| 6.875%, 1/15/29(1) | 932 | 924,663 | |
| 7.125%, 1/15/26(1) | 268 | 269,104 | |
| Repsol International Finance BV, 4.50% to 3/25/25, 3/25/75(13)(14) | EUR | 100 | 103,756 |
| Seadrill Finance Ltd., 8.375%, 8/1/30(1) | 513 | 523,689 | |
| SM Energy Co., 7.00%, 8/1/32(1) | 1,070 | 1,055,980 | |
| Transocean Poseidon Ltd., 6.875%, 2/1/27(1) | 641 | 643,234 | |
| Transocean, Inc., 8.75%, 2/15/30(1) | 601 | 622,356 | |
| Vital Energy, Inc.: | |||
| 7.875%, 4/15/32(1) | 694 | 668,434 | |
| 9.75%, 10/15/30 | 1,026 | 1,082,787 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Oil and Gas (continued) | |||
| Weatherford International Ltd., 8.625%, 4/30/30(1) | 1,355 | $ 1,400,175 | |
| Wintershall Dea Finance 2 BV, Series NC5, 2.499% to 4/20/26(13)(14)(16) | EUR | 200 | 201,159 |
| $ 22,663,885 | |||
| Packaging & Containers — 0.3% | |||
| Ball Corp., 6.875%, 3/15/28 | 474 | $ 485,207 | |
| Kleopatra Finco SARL, 4.25%, 3/1/26(13) | EUR | 140 | 134,401 |
| OI European Group BV, 6.25%, 5/15/28(13) | EUR | 125 | 134,621 |
| Owens-Brockway Glass Container, Inc., 7.25%, 5/15/31(1) | 1,382 | 1,346,717 | |
| Trivium Packaging Finance BV: | |||
| 5.50%, 8/15/26(1) | 424 | 419,546 | |
| 6.773%, (3 mo. EURIBOR + 3.75%), 8/15/26(2)(13) | EUR | 300 | 311,703 |
| 8.50%, 8/15/27(1) | 810 | 809,671 | |
| $ 3,641,866 | |||
| Pharmaceuticals — 0.8% | |||
| Bayer AG, 5.375% to 6/25/30, 3/25/82(13)(14) | EUR | 500 | $ 507,720 |
| BellRing Brands, Inc., 7.00%, 3/15/30(1) | 2,444 | 2,507,258 | |
| Endo Finance Holdings, Inc., 8.50%, 4/15/31(1) | 1,400 | 1,485,096 | |
| Grifols SA, 7.50%, 5/1/30(13) | EUR | 490 | 532,767 |
| Nidda Healthcare Holding GmbH: | |||
| 5.625%, 2/21/30(1) | EUR | 120 | 128,492 |
| 7.50%, 8/21/26(13) | EUR | 264 | 282,411 |
| P&L Development LLC/PLD Finance Corp., 12.00%, (9.00% cash and 3.50% PIK or 12.00% cash), 5/15/29(1)(15) | 892 | 925,234 | |
| Prestige Brands, Inc., 3.75%, 4/1/31(1) | 752 | 660,776 | |
| Rossini SARL, 6.75%, 12/31/29(13) | EUR | 455 | 499,310 |
| Teva Pharmaceutical Finance Netherlands II BV, 7.875%, 9/15/31 | EUR | 300 | 378,480 |
| Teva Pharmaceutical Finance Netherlands III BV, 4.10%, 10/1/46 | 3,321 | 2,391,932 | |
| $ 10,299,476 | |||
| Pipelines — 2.2% | |||
| Antero Midstream Partners LP/Antero Midstream Finance Corp., 5.75%, 3/1/27(1) | 1,874 | $ 1,866,548 | |
| Cheniere Energy Partners LP, 4.00%, 3/1/31 | 2,706 | 2,504,084 | |
| DT Midstream, Inc., 4.125%, 6/15/29(1) | 1,449 | 1,354,204 | |
| Energy Transfer LP, 5.00%, 5/15/50 | 1,094 | 929,521 | |
| EQM Midstream Partners LP: | |||
| 4.50%, 1/15/29(1) | 1,253 | 1,194,663 | |
| 4.75%, 1/15/31(1) | 1,086 | 1,022,067 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Pipelines (continued) | |||
| EQM Midstream Partners LP: (continued) | |||
| 6.50%, 7/1/27(1) | 702 | $ 711,584 | |
| 7.50%, 6/1/30(1) | 1,010 | 1,078,424 | |
| Genesis Energy LP/Genesis Energy Finance Corp., 7.875%, 5/15/32 | 798 | 782,254 | |
| Global Partners LP/GLP Finance Corp., 8.25%, 1/15/32(1) | 1,317 | 1,355,441 | |
| Kinetik Holdings LP, 5.875%, 6/15/30(1) | 2,308 | 2,273,493 | |
| Plains All American Pipeline LP, Series B, 8.895% to 1//31/25, (3 mo. SOFR + 4.372%)(2)(16) | 1,912 | 1,907,377 | |
| Venture Global LNG, Inc.: | |||
| 7.00%, 1/15/30(1) | 800 | 812,755 | |
| 8.125%, 6/1/28(1) | 1,174 | 1,222,196 | |
| 8.375%, 6/1/31(1) | 1,878 | 1,960,560 | |
| 9.00% to 9/30/29(1)(14)(16) | 2,160 | 2,261,799 | |
| 9.50%, 2/1/29(1) | 1,623 | 1,794,861 | |
| 9.875%, 2/1/32(1) | 355 | 389,756 | |
| Western Midstream Operating LP: | |||
| 4.05%, 2/1/30 | 1,187 | 1,114,152 | |
| 4.50%, 3/1/28 | 148 | 145,300 | |
| $ 26,681,039 | |||
| Publishing — 0.2% | |||
| McGraw-Hill Education, Inc.: | |||
| 5.75%, 8/1/28(1) | 423 | $ 413,475 | |
| 7.375%, 9/1/31(1) | 735 | 753,143 | |
| 8.00%, 8/1/29(1) | 1,879 | 1,881,351 | |
| $ 3,047,969 | |||
| Radio and Television — 0.4% | |||
| Clear Channel Outdoor Holdings, Inc.: | |||
| 7.75%, 4/15/28(1) | 2,088 | $ 1,886,411 | |
| 7.875%, 4/1/30(1) | 1,227 | 1,264,286 | |
| Townsquare Media, Inc., 6.875%, 2/1/26(1) | 1,366 | 1,362,996 | |
| $ 4,513,693 | |||
| Real Estate Investment Trusts (REITs) — 0.9% | |||
| AccorInvest Group SA: | |||
| 5.50%, 11/15/31(13) | EUR | 300 | $ 318,328 |
| 6.375%, 10/15/29(13) | EUR | 165 | 180,144 |
| Akelius Residential Property AB, 2.249% to 2/17/26, 5/17/81(13)(14) | EUR | 200 | 200,343 |
| Alexandrite Monnet U.K. Holdco PLC, 10.50%, 5/15/29(13) | EUR | 600 | 682,510 |
| Security | Principal Amount* (000's omitted) | Value | |
| Real Estate Investment Trusts (REITs) (continued) | |||
| CTR Partnership LP/CareTrust Capital Corp., 3.875%, 6/30/28(1) | 1,591 | $ 1,516,745 | |
| Cushman & Wakefield U.S. Borrower LLC: | |||
| 6.75%, 5/15/28(1) | 1,272 | 1,274,345 | |
| 8.875%, 9/1/31(1) | 907 | 977,108 | |
| Greystar Real Estate Partners LLC, 7.75%, 9/1/30(1) | 2,048 | 2,165,673 | |
| HAT Holdings I LLC/HAT Holdings II LLC, 3.375%, 6/15/26(1) | 1,316 | 1,276,092 | |
| Heimstaden Bostad AB: | |||
| 3.00% to 10/29/27(13)(14)(16) | EUR | 102 | 97,042 |
| 3.375% to 1/15/26(13)(14)(16) | EUR | 150 | 151,246 |
| Pebblebrook Hotel LP/PEB Finance Corp., 6.375%, 10/15/29(1) | 435 | 431,000 | |
| VICI Properties LP/VICI Note Co., Inc.: | |||
| 3.75%, 2/15/27(1) | 323 | 313,620 | |
| 4.125%, 8/15/30(1) | 1,108 | 1,030,304 | |
| 5.75%, 2/1/27(1) | 573 | 578,328 | |
| $ 11,192,828 | |||
| Retail — 1.2% | |||
| B&M European Value Retail SA, 8.125%, 11/15/30(13) | GBP | 200 | $ 267,625 |
| Bertrand Franchise Finance SAS: | |||
| 6.50%, 7/18/30(13) | EUR | 100 | 108,725 |
| 6.50%, 7/18/30(1) | EUR | 100 | 108,725 |
| 6.958%, (3 mo. EURIBOR + 3.75%), 7/18/30(1)(2) | EUR | 120 | 125,343 |
| CD&R Firefly Bidco PLC, 8.625%, 4/30/29(13) | GBP | 450 | 588,354 |
| Cougar JV Subsidiary LLC, 8.00%, 5/15/32(1) | 1,737 | 1,804,744 | |
| Dufry One BV, 2.00%, 2/15/27(13) | EUR | 200 | 201,951 |
| Duomo Bidco SpA, 7.304%, (3 mo. EURIBOR + 4.125%), 7/15/31(2)(13) | EUR | 150 | 156,792 |
| Evergreen Acqco 1 LP/TVI, Inc., 9.75%, 4/26/28(1) | 1,620 | 1,706,659 | |
| Ferrellgas LP/Ferrellgas Finance Corp., 5.875%, 4/1/29(1) | 1,582 | 1,447,385 | |
| Group 1 Automotive, Inc.: | |||
| 4.00%, 8/15/28(1) | 1,328 | 1,244,303 | |
| 6.375%, 1/15/30(1) | 455 | 457,046 | |
| Ken Garff Automotive LLC, 4.875%, 9/15/28(1) | 957 | 920,718 | |
| LCM Investments Holdings II LLC: | |||
| 4.875%, 5/1/29(1) | 1,652 | 1,544,765 | |
| 8.25%, 8/1/31(1) | 262 | 272,086 | |
| PEU Fin PLC, 7.25%, 7/1/28(13) | EUR | 200 | 217,265 |
| Punch Finance PLC, 6.125%, 6/30/26(13) | GBP | 125 | 155,026 |
| Raising Cane's Restaurants LLC, 9.375%, 5/1/29(1) | 1,798 | 1,928,376 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Retail (continued) | |||
| Stonegate Pub Co. Financing PLC, 9.648%, (3 mo. EURIBOR + 6.625%), 7/31/29(2)(13) | EUR | 100 | $ 107,311 |
| Suburban Propane Partners LP/Suburban Energy Finance Corp., 5.00%, 6/1/31(1) | 824 | 738,165 | |
| $ 14,101,364 | |||
| Retailers (Except Food and Drug) — 0.4% | |||
| Bath & Body Works, Inc.: | |||
| 6.625%, 10/1/30(1) | 479 | $ 484,472 | |
| 6.75%, 7/1/36 | 437 | 444,703 | |
| 6.95%, 3/1/33 | 1,027 | 1,044,421 | |
| 9.375%, 7/1/25(1) | 182 | 185,314 | |
| Murphy Oil USA, Inc., 5.625%, 5/1/27 | 560 | 557,526 | |
| PetSmart, Inc./PetSmart Finance Corp., 4.75%, 2/15/28(1) | 1,290 | 1,218,606 | |
| Superior Plus LP/Superior General Partner, Inc., 4.50%, 3/15/29(1) | 1,532 | 1,394,322 | |
| $ 5,329,364 | |||
| Semiconductors & Semiconductor Equipment — 0.1% | |||
| ON Semiconductor Corp., 3.875%, 9/1/28(1) | 1,544 | $ 1,449,326 | |
| $ 1,449,326 | |||
| Software — 0.6% | |||
| Clarivate Science Holdings Corp., 4.875%, 7/1/29(1) | 1,555 | $ 1,451,284 | |
| Cloud Software Group, Inc.: | |||
| 6.50%, 3/31/29(1) | 1,268 | 1,246,175 | |
| 9.00%, 9/30/29(1) | 2,620 | 2,663,345 | |
| Ellucian Holdings, Inc., 6.50%, 12/1/29(1) | 1,363 | 1,366,985 | |
| TeamSystem SpA, 6.679%, (3 mo. EURIBOR + 3.50%), 7/31/31(1)(2) | EUR | 170 | 177,395 |
| $ 6,905,184 | |||
| Software and Services — 0.2% | |||
| Fair Isaac Corp., 4.00%, 6/15/28(1) | 1,248 | $ 1,178,700 | |
| Gartner, Inc., 3.75%, 10/1/30(1) | 660 | 602,970 | |
| Playtech PLC, 4.25%, 3/7/26(13) | EUR | 86 | 89,097 |
| $ 1,870,767 | |||
| Specialty Retail — 0.0%(12) | |||
| Fiber Bidco SpA, 6.683%, (3 mo. EURIBOR + 4.00%), 1/15/30(2)(13) | EUR | 260 | $ 271,935 |
| Fiber Midco SpA: | |||
| 10.00% PIK, 6/15/29(1) | EUR | 155 | 166,949 |
| Security | Principal Amount* (000's omitted) | Value | |
| Specialty Retail (continued) | |||
| Fiber Midco SpA: (continued) | |||
| 10.00% PIK, 6/15/29(13) | EUR | 100 | $ 107,709 |
| $ 546,593 | |||
| Steel — 0.4% | |||
| Allegheny Ludlum LLC, 6.95%, 12/15/25 | 465 | $ 468,840 | |
| ATI, Inc., 5.875%, 12/1/27 | 320 | 317,453 | |
| Big River Steel LLC/BRS Finance Corp., 6.625%, 1/31/29(1) | 1,147 | 1,148,111 | |
| Cleveland-Cliffs, Inc., 7.375%, 5/1/33(1) | 1,325 | 1,302,988 | |
| TMS International Corp., 6.25%, 4/15/29(1) | 1,365 | 1,317,180 | |
| $ 4,554,572 | |||
| Technology — 0.8% | |||
| athenahealth Group, Inc., 6.50%, 2/15/30(1) | 4,789 | $ 4,555,948 | |
| International Game Technology PLC: | |||
| 4.125%, 4/15/26(1) | 892 | 879,590 | |
| 5.25%, 1/15/29(1) | 3,110 | 3,036,123 | |
| 6.25%, 1/15/27(1) | 976 | 982,929 | |
| $ 9,454,590 | |||
| Telecommunications — 1.6% | |||
| Ciena Corp., 4.00%, 1/31/30(1) | 1,883 | $ 1,738,622 | |
| Connect Finco SARL/Connect U.S. Finco LLC, 9.00%, 9/15/29(1) | 1,515 | 1,381,762 | |
| eircom Finance DAC, 5.75%, 12/15/29(13) | EUR | 200 | 217,529 |
| Iliad Holding SASU: | |||
| 5.375%, 4/15/30(13) | EUR | 100 | 106,757 |
| 6.875%, 4/15/31(13) | EUR | 200 | 222,748 |
| 7.00%, 10/15/28(1) | 811 | 822,529 | |
| 7.00%, 4/15/32(1) | 915 | 920,773 | |
| 8.50%, 4/15/31(1) | 720 | 766,342 | |
| Lorca Telecom Bondco SA, 4.00%, 9/18/27(13) | EUR | 643 | 667,300 |
| Odido Group Holding BV, 5.50%, 1/15/30(13) | EUR | 450 | 464,384 |
| Optics Bidco SpA: | |||
| 1.625%, 1/18/29 | EUR | 100 | 95,946 |
| 7.75%, 1/24/33 | EUR | 440 | 564,077 |
| PLT VII Finance SARL, 6.386%, (3 mo. EURIBOR + 3.50%), 6/15/31(2)(13) | EUR | 100 | 104,089 |
| Sable International Finance Ltd., 7.125%, 10/15/32(1) | 822 | 806,777 | |
| Stagwell Global LLC, 5.625%, 8/15/29(1) | 1,987 | 1,894,186 | |
| Summer (BC) Bidco B LLC, 5.50%, 10/31/26(1) | 1,107 | 1,089,831 | |
| Summer (BC) Holdco A SARL, 9.25%, 10/31/27(13) | EUR | 126 | 131,780 |
| Summer (BC) Holdco B SARL, 5.75%, 10/31/26(13) | EUR | 150 | 155,407 |
| Security | Principal Amount* (000's omitted) | Value | |
| Telecommunications (continued) | |||
| Telecom Italia SpA, 7.875%, 7/31/28(13) | EUR | 133 | $ 156,051 |
| Telefonica Europe BV: | |||
| 2.88% to 2/24/28(13)(14)(16) | EUR | 200 | 200,563 |
| 7.125% to 8/23/28(13)(14)(16) | EUR | 400 | 457,317 |
| Vmed O2 U.K. Financing I PLC: | |||
| 4.50%, 7/15/31(13) | GBP | 100 | 107,194 |
| 4.75%, 7/15/31(1) | 976 | 840,402 | |
| 5.625%, 4/15/32(13) | EUR | 325 | 343,604 |
| 7.75%, 4/15/32(1) | 645 | 650,881 | |
| Vodafone Group PLC: | |||
| 2.625% to 5/27/26, 8/27/80(13)(14) | EUR | 400 | 409,884 |
| 4.875% to 7/3/25, 10/3/78(13)(14) | GBP | 350 | 435,602 |
| 8.00% to 5/30/31, 8/30/86(13)(14) | GBP | 200 | 271,782 |
| Zegona Finance PLC: | |||
| 6.75%, 7/15/29(13) | EUR | 550 | 607,917 |
| 8.625%, 7/15/29(1) | 2,450 | 2,606,228 | |
| $ 19,238,264 | |||
| Transportation — 0.4% | |||
| Cargo Aircraft Management, Inc., 4.75%, 2/1/28(1) | 1,528 | $ 1,516,999 | |
| Edge Finco PLC, 8.125%, 8/15/31(13) | GBP | 300 | 384,724 |
| Seaspan Corp., 5.50%, 8/1/29(1) | 1,911 | 1,786,532 | |
| Watco Cos. LLC/Watco Finance Corp., 7.125%, 8/1/32(1) | 1,155 | 1,191,670 | |
| $ 4,879,925 | |||
| Utilities — 1.5% | |||
| Calpine Corp.: | |||
| 4.50%, 2/15/28(1) | 1,073 | $ 1,029,993 | |
| 4.625%, 2/1/29(1) | 680 | 642,491 | |
| 5.00%, 2/1/31(1) | 910 | 856,396 | |
| 5.125%, 3/15/28(1) | 1,511 | 1,466,601 | |
| 5.25%, 6/1/26(1) | 115 | 114,933 | |
| Leeward Renewable Energy Operations LLC, 4.25%, 7/1/29(1) | 838 | 767,968 | |
| NextEra Energy Operating Partners LP, 4.50%, 9/15/27(1) | 1,207 | 1,156,611 | |
| NRG Energy, Inc.: | |||
| 3.375%, 2/15/29(1) | 664 | 603,037 | |
| 3.625%, 2/15/31(1) | 1,107 | 968,793 | |
| 3.875%, 2/15/32(1) | 1,466 | 1,281,340 | |
| 5.25%, 6/15/29(1) | 673 | 654,177 | |
| 6.00%, 2/1/33(1) | 1,190 | 1,156,704 | |
| 6.25%, 11/1/34(1) | 795 | 780,400 | |
| 10.25% to 3/15/28(1)(14)(16) | 1,753 | 1,938,001 | |
| Security | Principal Amount* (000's omitted) | Value | |
| Utilities (continued) | |||
| TerraForm Power Operating LLC, 5.00%, 1/31/28(1) | 1,497 | $ 1,443,478 | |
| Vistra Operations Co. LLC: | |||
| 4.375%, 5/1/29(1) | 939 | 884,935 | |
| 5.00%, 7/31/27(1) | 1,698 | 1,667,476 | |
| 6.875%, 4/15/32(1) | 1,405 | 1,439,938 | |
| $ 18,853,272 | |||
| Total Corporate Bonds (identified cost $566,356,814) | $ 561,308,662 | ||
| Preferred Stocks — 0.1% |
| Security | Shares | Value | |
| Technology — 0.1% | |||
| Cohesity Global, Inc.: | |||
| Series G | 10,002 | $ 262,552 | |
| Series G1 | 6,910 | 181,388 | |
| Total Preferred Stocks (identified cost $346,696) | $ 443,940 | ||
| Senior Floating-Rate Loans — 45.1%(18) |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Aerospace and Defense — 0.8% | |||
| Aernnova Aerospace SAU, Term Loan, 7.25%, (3 mo. EURIBOR + 4.00%), 2/27/30 | EUR | 1,000 | $ 1,025,704 |
| Air Comm Corp. LLC: | |||
| Term Loan, 7.359%, (SOFR + 3.00%), 11/21/31 | 1,408 | 1,410,339 | |
| Term Loan, 12/11/31(19)(20) | 117 | 117,528 | |
| HDI Aerospace Intermediate Holding III Corp., Term Loan, 9/19/31(19) | 650 | 653,250 | |
| IAP Worldwide Services, Inc., Term Loan - Second Lien, 0.00%, 7/18/23(9)(17) | 216 | 172,067 | |
| Novaria Holdings LLC, Term Loan, 8.457%, (SOFR + 4.00%), 6/6/31 | 200 | 201,495 | |
| TransDigm, Inc.: | |||
| Term Loan, 6.829%, (SOFR + 2.50%), 2/28/31 | 4,553 | 4,565,741 | |
| Term Loan, 7.079%, (SOFR + 2.75%), 3/22/30 | 1,316 | 1,321,977 | |
| $ 9,468,101 | |||
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Air Freight & Logistics — 0.1% | |||
| AIT Worldwide Logistics, Inc., Term Loan, 9.278%, (SOFR + 4.75%), 4/8/30 | 650 | $ 655,483 | |
| Edge Finco PLC, Term Loan, 7.255%, (3 mo. EURIBOR + 4.25%), 8/4/31 | EUR | 500 | 518,678 |
| $ 1,174,161 | |||
| Airlines — 0.1% | |||
| SkyMiles IP Ltd., Term Loan, 8.367%, (SOFR + 3.75%), 10/20/27 | 718 | $ 731,294 | |
| $ 731,294 | |||
| Apparel & Luxury Goods — 0.1% | |||
| ABG Intermediate Holdings 2 LLC, Term Loan, 12/21/28(19) | 248 | $ 249,195 | |
| Gloves Buyer, Inc., Term Loan, 8.472%, (SOFR + 4.00%), 12/29/27 | 622 | 622,424 | |
| Hanesbrands, Inc., Term Loan, 8.107%, (SOFR + 3.75%), 3/8/30 | 149 | 150,349 | |
| $ 1,021,968 | |||
| Auto Components — 0.7% | |||
| Adient U.S. LLC, Term Loan, 6.607%, (SOFR + 2.25%), 1/31/31 | 551 | $ 554,314 | |
| Autokiniton U.S. Holdings, Inc., Term Loan, 8.472%, (SOFR + 4.00%), 4/6/28 | 507 | 504,539 | |
| Clarios Global LP: | |||
| Term Loan, 5.97%, (EURIBOR + 3.00%), 7/16/31(21) | EUR | 913 | 948,471 |
| Term Loan, 6.857%, (SOFR + 2.50%), 5/6/30 | 2,604 | 2,618,472 | |
| DexKo Global, Inc.: | |||
| Term Loan, 6.683%, (3 mo. EURIBOR + 4.00%), 10/4/28 | EUR | 595 | 589,420 |
| Term Loan, 6.843%, (3 mo. EURIBOR + 4.00%), 10/4/28 | EUR | 405 | 401,355 |
| Term Loan, 8.34%, (SOFR + 3.75%), 10/4/28 | 802 | 760,500 | |
| Garrett LX I SARL, Term Loan, 7.335%, (SOFR + 2.75%), 4/30/28 | 629 | 632,805 | |
| LSF12 Badger Bidco LLC, Term Loan, 10.357%, (SOFR + 6.00%), 8/30/30 | 297 | 293,288 | |
| RealTruck Group, Inc., Term Loan, 9.472%, (SOFR + 5.00%), 1/31/28 | 670 | 672,450 | |
| $ 7,975,614 | |||
| Automobiles — 0.2% | |||
| MajorDrive Holdings IV LLC: | |||
| Term Loan, 8.59%, (SOFR + 4.00%), 6/1/28 | 434 | $ 424,557 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Automobiles (continued) | |||
| MajorDrive Holdings IV LLC: (continued) | |||
| Term Loan, 9.979%, (SOFR + 5.50%), 6/1/29 | 1,605 | $ 1,580,556 | |
| $ 2,005,113 | |||
| Beverages — 0.1% | |||
| City Brewing Co. LLC: | |||
| Term Loan, 8.418%, (SOFR + 3.50%), 4/5/28 | 546 | $ 388,735 | |
| Term Loan, 10.906%, (SOFR + 6.25%), 4/5/28 | 177 | 134,419 | |
| Term Loan - Second Lien, 9.918%, (SOFR + 5.262%), 4/5/28 | 1,051 | 413,385 | |
| $ 936,539 | |||
| Biotechnology — 0.1% | |||
| Alltech, Inc., Term Loan, 8.472%, (SOFR + 4.00%), 10/13/28 | 984 | $ 990,710 | |
| $ 990,710 | |||
| Building Products — 0.7% | |||
| CPG International, Inc., Term Loan, 6.357%, (SOFR + 2.00%), 9/19/31 | 723 | $ 727,031 | |
| Kodiak Building Partners, Inc., Term Loan, 8.274%, (SOFR + 3.75%), 12/4/31 | 550 | 551,081 | |
| LHS Borrower LLC, Term Loan, 9.207%, (SOFR + 4.75%), 2/16/29 | 1,116 | 1,069,534 | |
| LSF12 Crown U.S. Commercial Bidco LLC, Term Loan, 8.646%, (SOFR + 4.25%), 12/2/31 | 2,050 | 2,050,010 | |
| MI Windows & Doors LLC, Term Loan, 7.357%, (SOFR + 3.00%), 3/28/31 | 1,269 | 1,283,163 | |
| Oscar AcquisitionCo LLC, Term Loan, 8.495%, (SOFR + 4.25%), 4/29/29 | 880 | 871,850 | |
| Sport Group Holding GmbH, Term Loan, 7.50%, (3 mo. EURIBOR + 4.25%), 7/8/31 | EUR | 1,000 | 1,039,517 |
| Standard Industries, Inc., Term Loan, 6.106%, (SOFR + 1.75%), 9/22/28 | 373 | 374,573 | |
| Tarkett Participation, Term Loan, 6.524%, (6 mo. EURIBOR + 3.45%), 4/21/28 | EUR | 1,000 | 1,038,636 |
| $ 9,005,395 | |||
| Capital Markets — 1.6% | |||
| Advisor Group, Inc., Term Loan, 7.857%, (SOFR + 3.50%), 8/17/28 | 1,125 | $ 1,131,340 | |
| Aretec Group, Inc., Term Loan, 7.857%, (SOFR + 3.50%), 8/9/30 | 2,987 | 2,996,708 | |
| Athena Holdco SAS, Term Loan, 6.215%, (3 mo. EURIBOR + 3.50%), 4/14/31 | EUR | 1,000 | 1,042,619 |
| Brookfield Property REIT, Inc., Term Loan, 6.957%, (SOFR + 2.50%), 8/27/25 | 589 | 589,916 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Capital Markets (continued) | |||
| CeramTec AcquiCo GmbH, Term Loan, 6.412%, (3 mo. EURIBOR + 3.50%), 3/16/29 | EUR | 760 | $ 787,289 |
| Citco Funding LLC, Term Loan, 7.308%, (SOFR + 2.75%), 4/27/28 | 765 | 772,788 | |
| EIG Management Co. LLC, Term Loan, 9.356%, (SOFR + 5.00%), 5/17/29 | 444 | 446,597 | |
| FinCo I LLC, Term Loan, 6.607%, (SOFR + 2.25%), 6/27/29 | 1,210 | 1,215,736 | |
| Focus Financial Partners LLC: | |||
| Term Loan, 7.607%, (SOFR + 3.25%), 9/15/31 | 3,876 | 3,916,186 | |
| Term Loan, 9/15/31(19)(20) | 416 | 420,608 | |
| Franklin Square Holdings LP, Term Loan, 6.607%, (SOFR + 2.25%), 4/25/31 | 1,020 | 1,027,524 | |
| HighTower Holdings LLC, Term Loan, 8.071%, (SOFR + 3.50%), 4/21/28 | 1,006 | 1,013,153 | |
| Kestra Advisor Services Holdings A, Inc., Term Loan, 7.37%, (SOFR + 3.00%), 3/22/31 | 648 | 649,928 | |
| Mariner Wealth Advisors LLC, Term Loan, 7.079%, (SOFR + 2.75%), 8/18/28 | 975 | 977,442 | |
| Orion Advisor Solutions, Inc., Term Loan, 8.335%, (SOFR + 3.75%), 9/24/30 | 623 | 630,158 | |
| Press Ganey Holdings, Inc., Term Loan, 7.607%, (SOFR + 3.25%), 4/30/31 | 648 | 651,011 | |
| Victory Capital Holdings, Inc., Term Loan, 6.934%, (SOFR + 2.25%), 7/1/26 | 873 | 874,824 | |
| $ 19,143,827 | |||
| Chemicals — 2.3% | |||
| Aruba Investments Holdings LLC, Term Loan, 6.863%, (1 mo. EURIBOR + 4.00%), 11/24/27 | EUR | 963 | $ 988,496 |
| Discovery Purchaser Corp., Term Loan, 8.946%, (SOFR + 4.38%), 10/4/29 | 599 | 602,878 | |
| Groupe Solmax, Inc., Term Loan, 9.285%, (SOFR + 4.75%), 5/29/28(21) | 191 | 176,075 | |
| INEOS Enterprises Holdings II Ltd., Term Loan, 6.912%, (3 mo. EURIBOR + 4.00%), 7/7/30 | EUR | 500 | 520,354 |
| INEOS Enterprises Holdings U.S. Finco LLC, Term Loan, 8.364%, (SOFR + 3.75%), 7/8/30 | 1,039 | 1,044,697 | |
| INEOS Finance PLC, Term Loan, 6.363%, (1 mo. EURIBOR + 3.50%), 6/23/31 | EUR | 1,194 | 1,241,152 |
| INEOS Quattro Holdings U.K. Ltd.: | |||
| Term Loan, 7.363%, (1 mo. EURIBOR + 4.50%), 4/2/29 | EUR | 1,000 | 1,037,730 |
| Term Loan, 8.207%, (SOFR + 3.75%), 3/14/30 | 419 | 420,459 | |
| Term Loan, 8.707%, (SOFR + 4.25%), 4/2/29 | 2,280 | 2,299,846 | |
| INEOS U.S. Finance LLC: | |||
| Term Loan, 6.957%, (SOFR + 2.50%), 11/8/28 | 608 | 608,669 | |
| Term Loan, 7.329%, (SOFR + 3.00%), 2/7/31 | 522 | 527,278 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Chemicals (continued) | |||
| INEOS U.S. Finance LLC: (continued) | |||
| Term Loan, 7.607%, (SOFR + 3.25%), 2/18/30 | 1,775 | $ 1,785,319 | |
| Lonza Group AG: | |||
| Term Loan, 6.608%, (3 mo. EURIBOR + 3.93%), 7/3/28 | EUR | 1,000 | 1,018,841 |
| Term Loan, 8.354%, (SOFR + 3.93%), 7/3/28 | 1,692 | 1,663,503 | |
| Momentive Performance Materials, Inc., Term Loan, 8.357%, (SOFR + 4.00%), 3/29/28 | 786 | 795,825 | |
| Nobian Finance BV, Term Loan, 7/2/29(19) | EUR | 500 | 519,719 |
| Nouryon Finance BV: | |||
| Term Loan, 6.719%, (3 mo. EURIBOR + 3.50%), 4/3/28 | EUR | 750 | 779,715 |
| Term Loan, 7.657%, (SOFR + 3.25%), 4/3/28 | 1,300 | 1,311,471 | |
| Olympus Water U.S. Holding Corp., Term Loan, 7.337%, (SOFR + 3.00%), 6/20/31 | 2,046 | 2,055,187 | |
| Orion Engineered Carbons GmbH: | |||
| Term Loan, 5.083%, (3 mo. EURIBOR + 2.40%), 9/24/28 | EUR | 1,000 | 1,035,420 |
| Term Loan, 6.579%, (SOFR + 2.15%), 9/24/28 | 363 | 362,812 | |
| Paint Intermediate III LLC, Term Loan, 7.522%, (SOFR + 3.00%), 10/9/31 | 525 | 528,720 | |
| Rohm Holding GmbH: | |||
| Term Loan, 8.59%, (6 mo. EURIBOR + 5.00%), 1/31/29 | EUR | 1,000 | 984,492 |
| Term Loan, 10.588%, (SOFR + 5.50%), 1/31/29 | 909 | 874,071 | |
| SCUR-Alpha 1503 GmbH, Term Loan, 10.085%, (SOFR + 5.50%), 3/29/30 | 909 | 869,168 | |
| Tronox Finance LLC: | |||
| Term Loan, 6.601%, (SOFR + 2.25%), 4/4/29 | 474 | 475,739 | |
| Term Loan, 6.857%, (SOFR + 2.50%), 9/18/31 | 1,743 | 1,750,612 | |
| W.R. Grace & Co.-Conn., Term Loan, 7.579%, (SOFR + 3.25%), 9/22/28 | 1,091 | 1,101,890 | |
| $ 27,380,138 | |||
| Commercial Services & Supplies — 1.7% | |||
| Albion Financing 3 SARL, Term Loan, 9.096%, (SOFR + 4.25%), 8/16/29 | 1,798 | $ 1,819,442 | |
| Allied Universal Holdco LLC: | |||
| Term Loan, 6.613%, (1 mo. EURIBOR + 3.75%), 5/12/28 | EUR | 968 | 1,000,656 |
| Term Loan, 8.207%, (SOFR + 3.75%), 5/12/28 | 2,651 | 2,663,210 | |
| Befesa SA, Term Loan, 5.806%, (3 mo. EURIBOR + 2.75%), 7/9/29 | EUR | 1,000 | 1,043,194 |
| Belfor Holdings, Inc.: | |||
| Term Loan, 7.113%, (1 mo. EURIBOR + 4.25%), 11/1/30 | EUR | 1,000 | 1,046,208 |
| Term Loan, 8.107%, (SOFR + 3.75%), 11/1/30 | 582 | 589,636 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Commercial Services & Supplies (continued) | |||
| EnergySolutions LLC, Term Loan, 7.607%, (SOFR + 3.25%), 9/20/30 | 3,735 | $ 3,760,906 | |
| Flame Newco LLC, Term Loan, 10.457%, (SOFR + 6.10%), 6/30/28 | 212 | 207,482 | |
| Foundever Group, Term Loan, 6.62%, (1 mo. EURIBOR + 3.75%), 8/28/28 | EUR | 500 | 362,845 |
| Foundever Worldwide Corp., Term Loan, 8.222%, (SOFR + 3.75%), 8/28/28 | 1,838 | 1,245,414 | |
| GFL Environmental, Inc., Term Loan, 6.61%, (SOFR + 2.00%), 7/3/31 | 948 | 950,586 | |
| Harsco Corp., Term Loan, 6.722%, (SOFR + 2.25%), 3/10/28 | 386 | 386,322 | |
| Heritage-Crystal Clean, Inc., Term Loan, 8.337%, (SOFR + 4.00%), 10/17/30 | 693 | 699,279 | |
| Monitronics International, Inc., Term Loan, 12.119%, (SOFR + 7.50%), 6/30/28 | 1,420 | 1,415,800 | |
| Prime Security Services Borrower LLC, Term Loan, 6.524%, (SOFR + 2.00%), 10/13/30 | 948 | 950,980 | |
| Tempo Acquisition LLC, Term Loan, 6.607%, (SOFR + 2.25%), 8/31/28 | 671 | 674,066 | |
| TMF Group Holding BV: | |||
| Term Loan, 6.988%, (3 mo. EURIBOR + 3.75%), 5/3/28 | EUR | 1,000 | 1,042,324 |
| Term Loan, 8.09%, (SOFR + 3.50%), 5/3/28 | 371 | 375,670 | |
| $ 20,234,020 | |||
| Construction Materials — 0.5% | |||
| Construction Partners, Inc., Term Loan, 6.838%, (SOFR + 2.50%), 11/3/31 | 525 | $ 528,612 | |
| Quikrete Holdings, Inc.: | |||
| Term Loan, 6.607%, (SOFR + 2.25%), 3/19/29 | 2,116 | 2,116,836 | |
| Term Loan, 6.857%, (SOFR + 2.50%), 4/14/31 | 3,128 | 3,130,590 | |
| Star Holding LLC, Term Loan, 8.857%, (SOFR + 4.50%), 7/31/31 | 848 | 847,256 | |
| $ 6,623,294 | |||
| Consumer Finance — 0.1% | |||
| Global Blue Acquisition BV, Term Loan, 6.127%, (3 mo. EURIBOR + 3.25%), 12/5/30 | EUR | 1,000 | $ 1,040,382 |
| $ 1,040,382 | |||
| Consumer Staples Distribution & Retail — 0.4% | |||
| Cardenas Markets, Inc., Term Loan, 11.179%, (SOFR + 6.75%), 8/1/29 | 393 | $ 375,118 | |
| Peer Holding III BV: | |||
| Term Loan, 5.933%, (3 mo. EURIBOR + 3.25%), 9/29/28 | EUR | 1,500 | 1,562,600 |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Consumer Staples Distribution & Retail (continued) | |||
| Peer Holding III BV: (continued) | |||
| Term Loan, 7.329%, (SOFR + 3.00%), 7/1/31 | 1,425 | $ 1,434,797 | |
| Term Loan, 7.579%, (SOFR + 3.25%), 10/28/30 | 1,092 | 1,100,391 | |
| $ 4,472,906 | |||
| Containers & Packaging — 0.5% | |||
| Altium Packaging LLC, Term Loan, 6.857%, (SOFR + 2.50%), 6/11/31 | 498 | $ 497,813 | |
| Berlin Packaging LLC, Term Loan, 8.029%, (SOFR + 3.50%), 6/7/31 | 1,216 | 1,224,213 | |
| Clydesdale Acquisition Holdings, Inc., Term Loan, 7.532%, (SOFR + 3.18%), 4/13/29 | 468 | 469,128 | |
| Pactiv Evergreen Group Holdings, Inc., Term Loan, 6.857%, (SOFR + 2.50%), 9/24/28 | 1,630 | 1,639,407 | |
| Pregis TopCo Corp., Term Loan, 8.357%, (SOFR + 4.00%), 7/31/26 | 618 | 622,298 | |
| Pretium Packaging LLC, Term Loan - Second Lien, 9.171%, (SOFR + 4.60%), 10/2/28 | 129 | 102,993 | |
| Pretium PKG Holdings, Inc., Term Loan - Second Lien, 11.534%, (SOFR + 6.75%), 10/1/29 | 350 | 131,651 | |
| Proampac PG Borrower LLC, Term Loan, 8.604%, (SOFR + 4.00%), 9/15/28 | 1,114 | 1,118,644 | |
| $ 5,806,147 | |||
| Distributors — 0.4% | |||
| CD&R Hydra Buyer, Inc., Term Loan, 8.457%, (SOFR + 4.00%), 3/25/31 | 844 | $ 847,316 | |
| Parts Europe SA, Term Loan, 6.339%, (3 mo. EURIBOR + 3.25%), 2/3/31 | EUR | 1,500 | 1,563,276 |
| Phillips Feed Service, Inc., Term Loan, 11.457%, (SOFR + 7.00%), 11/13/26(9) | 104 | 62,850 | |
| Rubix Group Midco 3 Ltd., Term Loan, 7.302%, (3 mo. EURIBOR + 4.00%), 9/30/28 | EUR | 1,000 | 1,039,573 |
| Safic-Alcan SAS, Term Loan, 6.183%, (3 mo. EURIBOR + 3.50%), 6/22/29 | EUR | 1,000 | 1,041,029 |
| Winterfell Financing SARL, Term Loan, 8.032%, (3 mo. EURIBOR + 5.00%), 5/4/28 | EUR | 500 | 512,261 |
| $ 5,066,305 | |||
| Diversified Consumer Services — 0.9% | |||
| Amber Finco PLC, Term Loan, 6/11/29(19) | EUR | 1,100 | $ 1,144,682 |
| Anticimex International AB, Term Loan, 6.312%, (3 mo. EURIBOR + 3.40%), 11/16/28 | EUR | 1,000 | 1,038,926 |
| Ascend Learning LLC: | |||
| Term Loan, 7.957%, (SOFR + 3.50%), 12/11/28 | 631 | 634,690 | |
| Term Loan - Second Lien, 12/10/29(19) | 3,500 | 3,480,312 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Diversified Consumer Services (continued) | |||
| Fugue Finance BV, Term Loan, 7.162%, (3 mo. EURIBOR + 4.25%), 1/31/28 | EUR | 1,000 | $ 1,041,277 |
| KUEHG Corp., Term Loan, 7.839%, (SOFR + 3.25%), 6/12/30 | 975 | 986,337 | |
| Project Boost Purchaser LLC: | |||
| Term Loan, 8.147%, (SOFR + 3.50%), 7/16/31 | 850 | 857,102 | |
| Term Loan - Second Lien, 9.897%, (SOFR + 5.25%), 7/16/32 | 375 | 383,282 | |
| Spring Education Group, Inc., Term Loan, 8.329%, (SOFR + 4.00%), 10/4/30 | 347 | 349,099 | |
| Wand NewCo 3, Inc., Term Loan, 7.607%, (SOFR + 3.25%), 1/30/31 | 1,221 | 1,227,333 | |
| $ 11,143,040 | |||
| Diversified Financial Services — 0.2% | |||
| Concorde Midco Ltd., Term Loan, 7.092%, (6 mo. EURIBOR + 4.00%), 3/1/28 | EUR | 1,000 | $ 1,037,404 |
| Sandy BidCo BV, Term Loan, 6.823%, (6 mo. EURIBOR + 3.60%), 8/17/29 | EUR | 1,000 | 1,030,349 |
| $ 2,067,753 | |||
| Diversified Telecommunication Services — 1.1% | |||
| Altice France SA, Term Loan, 10.147%, (SOFR + 5.50%), 8/15/28 | 1,060 | $ 854,280 | |
| Anuvu Holdings 2 LLC: | |||
| Term Loan, 12.701%, (SOFR + 8.25%), 3/23/26(9) | 842 | 328,015 | |
| Term Loan, 14.451%, (SOFR + 10.00%), 8.451% cash, 6.00% PIK, 9/27/27(9) | 339 | 271,135 | |
| Eircom Finco SARL, Term Loan, 6.444%, (1 mo. EURIBOR + 3.50%), 5/15/29 | EUR | 1,786 | 1,859,227 |
| Lumen Technologies, Inc.: | |||
| Term Loan, 6.822%, (SOFR + 2.35%), 4/15/29 | 1,046 | 985,710 | |
| Term Loan, 6.822%, (SOFR + 2.35%), 4/15/30 | 1,046 | 976,887 | |
| Telenet International Finance SARL, Term Loan, 5.152%, (1 mo. EURIBOR + 2.25%), 4/30/29 | EUR | 1,750 | 1,800,836 |
| UPC Broadband Holding BV: | |||
| Term Loan, 5.402%, (1 mo. EURIBOR + 2.50%), 4/30/29 | EUR | 1,500 | 1,556,688 |
| Term Loan, 5.827%, (1 mo. EURIBOR + 2.93%), 1/31/29 | EUR | 1,288 | 1,340,484 |
| Virgin Media Bristol LLC, Term Loan, 7.762%, (SOFR + 3.25%), 1/31/29 | 1,150 | 1,145,239 | |
| Virgin Media Ireland Ltd., Term Loan, 6.477%, (1 mo. EURIBOR + 3.58%), 7/15/29 | EUR | 1,000 | 1,025,869 |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Diversified Telecommunication Services (continued) | |||
| Virgin Media SFA Finance Ltd., Term Loan, 5.402%, (1 mo. EURIBOR + 2.50%), 1/31/29 | EUR | 600 | $ 611,022 |
| Zayo Group Holdings, Inc., Term Loan, 6.113%, (1 mo. EURIBOR + 3.25%), 3/9/27 | EUR | 953 | 930,087 |
| $ 13,685,479 | |||
| Electric Utilities — 0.3% | |||
| Kohler Energy Co. LLC: | |||
| Term Loan, 7.806%, (3 mo. EURIBOR + 4.75%), 5/1/31 | EUR | 1,500 | $ 1,563,486 |
| Term Loan, 8.107%, (SOFR + 3.75%), 5/1/31 | 2,084 | 2,084,439 | |
| $ 3,647,925 | |||
| Electrical Equipment — 0.3% | |||
| AZZ, Inc., Term Loan, 6.857%, (SOFR + 2.50%), 5/13/29 | 300 | $ 301,554 | |
| Dynamo Newco II GmbH, Term Loan, 10/1/31(19) | EUR | 500 | 520,841 |
| WEC U.S. Holdings Ltd., Term Loan, 6.803%, (SOFR + 2.25%), 1/27/31 | 3,042 | 3,048,551 | |
| $ 3,870,946 | |||
| Electronic Equipment, Instruments & Components — 0.9% | |||
| Chamberlain Group, Inc., Term Loan, 7.707%, (SOFR + 3.25%), 11/3/28 | 2,645 | $ 2,663,825 | |
| Creation Technologies, Inc., Term Loan, 10.351%, (SOFR + 5.50%), 10/5/28 | 951 | 935,177 | |
| II-VI, Inc., Term Loan, 6.857%, (SOFR + 2.50%), 7/2/29 | 797 | 800,591 | |
| Minimax Viking GmbH, Term Loan, 6.113%, (1 mo. EURIBOR + 3.25%), 7/31/28 | EUR | 1,665 | 1,739,508 |
| Mirion Technologies, Inc., Term Loan, 6.579%, (SOFR + 2.25%), 10/20/28 | 586 | 589,124 | |
| MX Holdings U.S., Inc., Term Loan, 7.222%, (SOFR + 2.75%), 7/31/28 | 246 | 247,839 | |
| Range Red Operating, Inc.: | |||
| Term Loan, 12.693%, (SOFR + 8.00%), 10/1/29 | 188 | 184,400 | |
| Term Loan - Second Lien, 12.693%, (SOFR + 8.00%), 10/1/29 | 788 | 773,529 | |
| Sector Alarm Holding AS, Term Loan, 7.162%, (3 mo. EURIBOR + 4.25%), 6/14/29 | EUR | 500 | 522,242 |
| Verifone Systems, Inc., Term Loan, 8.783%, (SOFR + 4.00%), 8/20/25 | 1,200 | 1,128,771 | |
| Verisure Holding AB, Term Loan, 5.715%, (3 mo. EURIBOR + 3.00%), 3/27/28 | EUR | 1,000 | 1,041,464 |
| $ 10,626,470 | |||
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Energy Equipment & Services — 0.3% | |||
| Ameriforge Group, Inc.: | |||
| Term Loan, 15.459%, (SOFR + 11.00%), 4.459% cash, 11.00% PIK, 12/31/25(9) | 120 | $ 55,024 | |
| Term Loan, 15.459%, (SOFR + 11.00%), 4.459% cash, 11.00% PIK, 12/31/25(9) | 1,043 | 476,484 | |
| GIP Pilot Acquisition Partners LP, Term Loan, 7.09%, (SOFR + 2.50%), 10/4/30 | 472 | 475,393 | |
| Holding Socotec, Term Loan, 6/2/28(19) | EUR | 1,000 | 1,042,003 |
| New Generation Gas Gathering LLC, Term Loan, 10.335%, (SOFR + 5.75%), 9/30/29 | 646 | 631,406 | |
| PG Investment Co. 59 SARL, Term Loan, 7.329%, (SOFR + 3.00%), 3/26/31 | 1,397 | 1,410,559 | |
| $ 4,090,869 | |||
| Engineering & Construction — 0.4% | |||
| American Residential Services LLC, Term Loan, 7.972%, (SOFR + 3.50%), 10/15/27 | 552 | $ 557,520 | |
| APi Group DE, Inc., Term Loan, 6.357%, (SOFR + 2.00%), 1/3/29 | 1,248 | 1,249,487 | |
| Arcosa, Inc., Term Loan, 6.607%, (SOFR + 2.25%), 8/12/31 | 375 | 378,517 | |
| Artera Services LLC, Term Loan, 8.829%, (SOFR + 4.50%), 2/15/31 | 422 | 418,853 | |
| Azuria Water Solutions, Inc., Term Loan, 8.107%, (SOFR + 3.75%), 5/17/28 | 460 | 464,267 | |
| Northstar Group Services, Inc., Term Loan, 9.079%, (SOFR + 4.75%), 5/8/30 | 1,393 | 1,403,594 | |
| Platea BC Bidco AB: | |||
| Term Loan, 4.532%, (3 mo. EURIBOR + 4.00%), 4/3/31(20) | EUR | 83 | 86,907 |
| Term Loan, 6.715%, (3 mo. EURIBOR + 4.00%), 4/3/31 | EUR | 417 | 434,535 |
| $ 4,993,680 | |||
| Entertainment — 0.4% | |||
| City Football Group Ltd., Term Loan, 7.472%, (SOFR + 3.00%), 7/22/30 | 1,337 | $ 1,336,787 | |
| Playtika Holding Corp., Term Loan, 7.222%, (SOFR + 2.75%), 3/13/28 | 2,131 | 2,140,445 | |
| Renaissance Holding Corp., Term Loan, 8.357%, (SOFR + 4.00%), 4/5/30 | 938 | 937,042 | |
| Vue Entertainment International Ltd., Term Loan, 11.446%, (3 mo. EURIBOR + 8.40%), 3.046% cash, 8.40% PIK, 12/31/27 | EUR | 477 | 311,451 |
| Vue International Bidco PLC, Term Loan, 11.046%, (6 mo. EURIBOR + 8.00%), 6/30/27 | EUR | 121 | 126,099 |
| $ 4,851,824 | |||
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Equity Real Estate Investment Trusts (REITs) — 0.1% | |||
| Iron Mountain, Inc., Term Loan, 6.357%, (SOFR + 2.00%), 1/31/31 | 863 | $ 863,908 | |
| $ 863,908 | |||
| Financial Services — 0.8% | |||
| Boost Newco Borrower LLC: | |||
| Term Loan, 5.481%, (3 mo. EURIBOR + 2.75%), 1/31/31 | EUR | 1,496 | $ 1,558,887 |
| Term Loan, 6.829%, (SOFR + 2.50%), 1/31/31 | 2,868 | 2,888,733 | |
| CPI Holdco B LLC, Term Loan, 6.357%, (SOFR + 2.00%), 5/19/31 | 1,222 | 1,220,954 | |
| Ditech Holding Corp., Term Loan, 0.00%, 6/30/25(17) | 2,110 | 416,702 | |
| Grant Thornton Advisors LLC: | |||
| Term Loan, 7.607%, (SOFR + 3.25%), 6/2/31 | 1,446 | 1,448,501 | |
| Term Loan, 6/2/31(19) | 550 | 550,808 | |
| NCR Atleos LLC, Term Loan, 8.398%, (SOFR + 3.75%), 4/16/29 | 588 | 591,700 | |
| Nuvei Technologies Corp., Term Loan, 7.444%, (SOFR + 3.00%), 11/15/31 | 525 | 526,725 | |
| $ 9,203,010 | |||
| Food Products — 1.1% | |||
| Artisan Newco BV, Term Loan, 6.481%, (3 mo. EURIBOR + 3.75%), 2/12/29 | EUR | 500 | $ 521,082 |
| CHG PPC Parent LLC: | |||
| Term Loan, 7.363%, (1 mo. EURIBOR + 4.50%), 12/8/28 | EUR | 2,000 | 2,092,416 |
| Term Loan, 7.472%, (SOFR + 3.00%), 12/8/28 | 462 | 465,006 | |
| Del Monte Foods, Inc.: | |||
| Term Loan, 12.616%, (SOFR + 8.00%), 8/2/28 | 209 | 208,649 | |
| Term Loan - Second Lien, 8.872%, (SOFR + 4.40%), 8/2/28 | 441 | 267,687 | |
| Froneri International Ltd.: | |||
| Term Loan, 5.556%, (3 mo. EURIBOR + 2.50%), 9/30/31 | EUR | 1,275 | 1,321,613 |
| Term Loan, 6.357%, (SOFR + 2.00%), 9/17/31 | 2,107 | 2,111,019 | |
| Monogram Food Solutions LLC, Term Loan, 8.472%, (SOFR + 4.00%), 8/28/28 | 534 | 526,831 | |
| Nomad Foods Europe Midco Ltd., Term Loan, 6.176%, (6 mo. EURIBOR + 2.50%), 6/24/28 | EUR | 3,000 | 3,131,524 |
| Pegasus BidCo BV, Term Loan, 6.523%, (3 mo. EURIBOR + 3.50%), 7/12/29 | EUR | 940 | 979,926 |
| POP Bidco SAS, Term Loan, 7.344%, (3 mo. EURIBOR + 4.50%), 10/11/31 | EUR | 500 | 520,028 |
| Simply Good Foods USA, Inc., Term Loan, 6.957%, (SOFR + 2.50%), 3/17/27 | 138 | 139,133 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Food Products (continued) | |||
| United Petfood Group BV, Term Loan, 5.822%, (3 mo. EURIBOR + 2.75%), 4/24/28 | EUR | 750 | $ 780,123 |
| Valeo F1 Co. Ltd. (Ireland), Term Loan, 6.912%, (6 mo. EURIBOR + 3.75%), 9/29/28 | EUR | 500 | 513,530 |
| $ 13,578,567 | |||
| Health Care Equipment & Supplies — 0.1% | |||
| Bayou Intermediate II LLC, Term Loan, 9.347%, (SOFR + 4.50%), 8/2/28 | 728 | $ 727,811 | |
| Medline Borrower LP, Term Loan, 5.363%, (1 mo. EURIBOR + 2.50%), 10/23/28 | EUR | 1,000 | 1,038,600 |
| $ 1,766,411 | |||
| Health Care Providers & Services — 2.9% | |||
| AEA International Holdings (Lux) SARL, Term Loan, 7.079%, (SOFR + 2.75%), 9/7/28 | 1,043 | $ 1,050,814 | |
| Biogroup-LCD, Term Loan, 6.532%, (3 mo. EURIBOR + 3.50%), 2/9/28 | EUR | 750 | 750,629 |
| BW NHHC Holdco, Inc., Term Loan - Second Lien, 14.579%, (SOFR + 10.25%), 12.329% cash, 2.25% PIK, 1/15/26 | 3,790 | 3,472,624 | |
| CCRR Parent, Inc., Term Loan, 9.026%, (SOFR + 4.25%), 3/6/28 | 506 | 300,455 | |
| Cerba Healthcare SAS, Term Loan, 6.563%, (1 mo. EURIBOR + 3.70%), 6/30/28 | EUR | 950 | 856,563 |
| CHG Healthcare Services, Inc.: | |||
| Term Loan, 7.396%, (SOFR + 3.00%), 9/29/28 | 1,064 | 1,069,505 | |
| Term Loan, 8.276%, (SOFR + 3.50%), 9/29/28 | 396 | 399,794 | |
| CNT Holdings I Corp., Term Loan, 8.085%, (SOFR + 3.50%), 11/8/27 | 674 | 679,189 | |
| Concentra Health Services, Inc., Term Loan, 6.607%, (SOFR + 2.25%), 7/28/31 | 374 | 377,336 | |
| Covis Finco SARL, Term Loan, 0.00%, 2/18/27(17) | 690 | 280,123 | |
| Dedalus Finance GmbH, Term Loan, 7.385%, (6 mo. EURIBOR + 3.75%), 7/17/27 | EUR | 500 | 512,422 |
| Electron BidCo, Inc., Term Loan, 7.107%, (SOFR + 2.75%), 11/1/28 | 1,080 | 1,085,335 | |
| Elsan SAS, Term Loan, 6.006%, (6 mo. EURIBOR + 3.35%), 6/16/28 | EUR | 1,500 | 1,555,647 |
| Ensemble RCM LLC, Term Loan, 7.585%, (SOFR + 3.00%), 8/1/29 | 2,302 | 2,321,608 | |
| Hanger, Inc.: | |||
| Term Loan, 1.75%, 10/23/31(20) | 151 | 152,822 | |
| Term Loan, 7.857%, (SOFR + 3.50%), 10/23/31 | 1,174 | 1,186,918 | |
| IVC Acquisition Ltd.: | |||
| Term Loan, 9.079%, (SOFR + 4.75%), 12/12/28 | 1,015 | 1,024,125 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Health Care Providers & Services (continued) | |||
| IVC Acquisition Ltd.: (continued) | |||
| Term Loan, 10.319%, (SONIA + 5.50%), 12/12/28 | GBP | 1,000 | $ 1,257,377 |
| LSCS Holdings, Inc., Term Loan, 8.972%, (SOFR + 4.61%), 12/16/28 | 703 | 708,964 | |
| Medical Solutions Holdings, Inc., Term Loan, 8.185%, (SOFR + 3.50%), 11/1/28 | 1,436 | 1,023,722 | |
| Mehilainen Yhtiot OYJ, Term Loan, 6.863%, (1 mo. EURIBOR + 4.00%), 8/5/31 | EUR | 1,000 | 1,043,318 |
| Midwest Physician Administrative Services LLC, Term Loan, 7.59%, (SOFR + 3.00%), 3/12/28 | 457 | 433,702 | |
| National Mentor Holdings, Inc.: | |||
| Term Loan, 8.179%, (SOFR + 3.75%), 3/2/28 | 58 | 57,899 | |
| Term Loan, 8.202%, (SOFR + 3.75%), 3/2/28(21) | 2,005 | 1,990,475 | |
| Option Care Health, Inc., Term Loan, 6.607%, (SOFR + 2.25%), 10/27/28 | 412 | 415,084 | |
| Pacific Dental Services LLC, Term Loan, 7.125%, (SOFR + 2.75%), 3/15/31 | 844 | 850,479 | |
| Phoenix Guarantor, Inc., Term Loan, 6.857%, (SOFR + 2.50%), 2/21/31 | 1,578 | 1,585,693 | |
| Radnet Management, Inc., Term Loan, 6.771%, (SOFR + 2.25%), 4/18/31 | 721 | 725,949 | |
| Raven Acquisition Holdings LLC: | |||
| Term Loan, 1.625%, 11/19/31(20) | 108 | 108,713 | |
| Term Loan, 7.607%, (SOFR + 3.25%), 11/19/31 | 1,517 | 1,521,983 | |
| Select Medical Corp., Term Loan, 6.531%, (SOFR + 2.00%), 12/3/31 | 975 | 979,466 | |
| Sound Inpatient Physicians, Term Loan - Second Lien, 9.59%, (SOFR + 5.00%), 8.09% cash, 1.50% PIK, 6/28/28 | 412 | 379,700 | |
| Surgery Center Holdings, Inc., Term Loan, 7.089%, (SOFR + 2.75%), 12/19/30 | 935 | 943,880 | |
| Synlab Bondco PLC: | |||
| Term Loan, 6.178%, (6 mo. EURIBOR + 2.50%), 7/1/27 | EUR | 500 | 519,753 |
| Term Loan, 6.638%, (3 mo. EURIBOR + 3.50%), 10/18/30 | EUR | 125 | 130,099 |
| TTF Holdings LLC, Term Loan, 8.107%, (SOFR + 3.75%), 7/18/31 | 1,425 | 1,417,875 | |
| U.S. Anesthesia Partners, Inc., Term Loan, 8.917%, (SOFR + 4.25%), 10/1/28 | 1,474 | 1,469,028 | |
| $ 34,639,068 | |||
| Health Care Technology — 0.3% | |||
| Imprivata, Inc., Term Loan, 8.085%, (SOFR + 3.50%), 12/1/27 | 518 | $ 522,042 | |
| PointClickCare Technologies, Inc., Term Loan, 7.579%, (SOFR + 3.25%), 11/3/31 | 650 | 654,875 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Health Care Technology (continued) | |||
| Project Ruby Ultimate Parent Corp., Term Loan, 7.472%, (SOFR + 3.00%), 3/10/28 | 1,013 | $ 1,019,264 | |
| Waystar Technologies, Inc., Term Loan, 6.595%, (SOFR + 2.25%), 10/22/29 | 1,040 | 1,045,913 | |
| $ 3,242,094 | |||
| Hotels, Restaurants & Leisure — 1.8% | |||
| Betclic Everest Group, Term Loan, 6.255%, (3 mo. EURIBOR + 3.25%), 12/5/31 | EUR | 500 | $ 520,841 |
| Caesars Entertainment, Inc., Term Loan, 6.607%, (SOFR + 2.25%), 2/6/31 | 2,258 | 2,265,694 | |
| Carnival Corp., Term Loan, 7.107%, (SOFR + 2.75%), 10/18/28 | 2,052 | 2,069,615 | |
| Fertitta Entertainment LLC, Term Loan, 7.857%, (SOFR + 3.50%), 1/27/29 | 4,097 | 4,117,053 | |
| Flutter Financing BV, Term Loan, 6.079%, (SOFR + 1.75%), 11/30/30 | 3,044 | 3,041,404 | |
| Four Seasons Hotels Ltd., Term Loan, 6.107%, (SOFR + 1.75%), 11/30/29 | 1,001 | 1,004,222 | |
| GVC Holdings (Gibraltar) Ltd., Term Loan, 5.933%, (3 mo. EURIBOR + 3.25%), 6/30/28 | EUR | 1,850 | 1,925,904 |
| Horizon U.S. Finco LP, Term Loan, 12/18/31(19) | 1,050 | 1,046,062 | |
| IRB Holding Corp., Term Loan, 6.857%, (SOFR + 2.50%), 12/15/27 | 293 | 293,906 | |
| Ontario Gaming GTA LP, Term Loan, 8.579%, (SOFR + 4.25%), 8/1/30 | 1,489 | 1,493,848 | |
| Playa Resorts Holding BV, Term Loan, 7.107%, (SOFR + 2.75%), 1/5/29 | 1,299 | 1,301,298 | |
| Scientific Games Holdings LP, Term Loan, 6.988%, (3 mo. EURIBOR + 3.75%), 4/4/29 | EUR | 1,000 | 1,038,797 |
| SeaWorld Parks & Entertainment, Inc., Term Loan, 6.357%, (SOFR + 2.00%), 12/4/31 | 871 | 870,608 | |
| Wyndham Hotels & Resorts, Inc., Term Loan, 6.107%, (SOFR + 1.75%), 5/24/30 | 765 | 767,530 | |
| $ 21,756,782 | |||
| Household Durables — 1.4% | |||
| ACProducts, Inc., Term Loan, 8.84%, (SOFR + 4.25%), 5/17/28 | 1,713 | $ 1,391,711 | |
| Libbey Glass, Inc., Term Loan, 11.267%, (SOFR + 6.50%), 11/22/27 | 9,311 | 9,082,086 | |
| Madison Safety & Flow LLC, Term Loan, 7.607%, (SOFR + 3.25%), 9/26/31 | 524 | 528,189 | |
| Serta Simmons Bedding LLC: | |||
| Term Loan, 11.943%, (SOFR + 7.50%), 6/29/28 | 3,630 | 3,085,125 | |
| Term Loan, 12.232%, (SOFR + 7.50%), 6/29/28 | 394 | 393,053 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Household Durables (continued) | |||
| Solis IV BV, Term Loan, 7.005%, (3 mo. EURIBOR + 4.00%), 2/26/29 | EUR | 1,000 | $ 1,042,489 |
| Tempur Sealy International, Inc., Term Loan, 6.81%, (SOFR + 2.50%), 10/24/31 | 1,700 | 1,706,902 | |
| $ 17,229,555 | |||
| Household Products — 0.2% | |||
| Kronos Acquisition Holdings, Inc., Term Loan, 8.584%, (SOFR + 4.00%), 7/8/31 | 1,845 | $ 1,747,339 | |
| Nobel Bidco BV, Term Loan, 6.626%, (6 mo. EURIBOR + 3.25%), 9/1/28 | EUR | 1,000 | 1,032,851 |
| $ 2,780,190 | |||
| Independent Power and Renewable Electricity Producers — 0.1% | |||
| Thunder Generation Funding LLC, Term Loan, 7.329%, (SOFR + 3.00%), 10/3/31 | 1,097 | $ 1,105,820 | |
| $ 1,105,820 | |||
| Industrial Conglomerates — 0.2% | |||
| Ammeraal Beltech Holding BV, Term Loan, 7.683%, (3 mo. EURIBOR + 5.00%), 12/30/28 | EUR | 942 | $ 980,354 |
| Rain Carbon GmbH, Term Loan, 7.852%, (3 mo. EURIBOR + 5.00%), 10/31/28 | EUR | 901 | 930,950 |
| $ 1,911,304 | |||
| Industrials Conglomerates — 0.2% | |||
| AAG U.S. GSI Bidco, Inc., Term Loan, 9.329%, (SOFR + 5.00%), 10/8/31 | 500 | $ 505,000 | |
| John Bean Technologies Corp., Term Loan, 10/9/31(19) | 725 | 730,437 | |
| Nvent Electric Public Ltd. Co., Term Loan, 9/12/31(19) | 1,125 | 1,138,714 | |
| $ 2,374,151 | |||
| Insurance — 1.6% | |||
| Alliant Holdings Intermediate LLC, Term Loan, 7.106%, (SOFR + 2.75%), 9/19/31 | 1,224 | $ 1,228,685 | |
| AmWINS Group, Inc., Term Loan, 6.722%, (SOFR + 2.25%), 2/19/28 | 4,249 | 4,267,023 | |
| Broadstreet Partners, Inc., Term Loan, 7.373%, (SOFR + 3.00%), 6/13/31 | 1,144 | 1,149,502 | |
| Financiere CEP SAS, Term Loan, 6.577%, (6 mo. EURIBOR + 4.00%), 6/18/27 | EUR | 1,750 | 1,820,668 |
| HUB International Ltd., Term Loan, 7.367%, (SOFR + 2.75%), 6/20/30 | 5,299 | 5,338,193 | |
| Ryan Specialty Group LLC, Term Loan, 6.607%, (SOFR + 2.25%), 9/15/31 | 1,250 | 1,256,250 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Insurance (continued) | |||
| Siaci Saint Honore, Term Loan, 6.465%, (3 mo. EURIBOR + 3.75%), 11/16/28 | EUR | 1,000 | $ 1,041,241 |
| Truist Insurance Holdings LLC, Term Loan, 7.079%, (SOFR + 2.75%), 5/6/31 | 276 | 277,056 | |
| USI, Inc., Term Loan, 6.579%, (SOFR + 2.25%), 11/22/29 | 3,019 | 3,017,453 | |
| $ 19,396,071 | |||
| Interactive Media & Services — 0.1% | |||
| Foundational Education Group, Inc., Term Loan, 8.597%, (SOFR + 3.75%), 8/31/28 | 534 | $ 520,829 | |
| Getty Images, Inc., Term Loan, 8.845%, (SOFR + 4.50%), 2/19/26 | 613 | 611,850 | |
| Match Group, Inc., Term Loan, 6.27%, (SOFR + 1.75%), 2/13/27 | 675 | 675,000 | |
| $ 1,807,679 | |||
| IT Services — 1.9% | |||
| Asurion LLC: | |||
| Term Loan, 7.709%, (SOFR + 3.25%), 7/31/27 | 1,068 | $ 1,067,291 | |
| Term Loan, 8.457%, (SOFR + 4.00%), 8/19/28 | 992 | 990,708 | |
| Term Loan, 8.607%, (SOFR + 4.25%), 9/19/30 | 3,042 | 3,037,974 | |
| Term Loan - Second Lien, 9.722%, (SOFR + 5.25%), 1/31/28 | 1,350 | 1,322,521 | |
| Endure Digital, Inc., Term Loan, 7.727%, (SOFR + 3.25%), 2/10/28 | 2,702 | 2,316,965 | |
| Gainwell Acquisition Corp., Term Loan, 8.429%, (SOFR + 4.00%), 10/1/27 | 3,025 | 2,937,454 | |
| Go Daddy Operating Co. LLC, Term Loan, 6.107%, (SOFR + 1.75%), 11/9/29 | 146 | 145,870 | |
| Indy U.S. Bidco LLC, Term Loan, 6.613%, (1 mo. EURIBOR + 3.75%), 3/6/28 | EUR | 722 | 750,374 |
| Informatica LLC, Term Loan, 6.607%, (SOFR + 2.25%), 10/27/28 | 2,601 | 2,617,696 | |
| NAB Holdings LLC, Term Loan, 7.079%, (SOFR + 2.75%), 11/23/28 | 1,091 | 1,098,753 | |
| Plano HoldCo, Inc., Term Loan, 7.829%, (SOFR + 3.50%), 10/2/31 | 600 | 606,000 | |
| Rackspace Finance LLC: | |||
| Term Loan, 10.847%, (SOFR + 6.25%), 5/15/28 | 1,456 | 1,511,211 | |
| Term Loan - Second Lien, 7.347%, (SOFR + 2.75%), 5/15/28 | 2,323 | 1,354,008 | |
| Sedgwick Claims Management Services, Inc., Term Loan, 7.585%, (SOFR + 3.00%), 7/31/31 | 1,206 | 1,214,438 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| IT Services (continued) | |||
| Synechron, Inc., Term Loan, 8.107%, (SOFR + 3.75%), 10/3/31 | 875 | $ 882,656 | |
| team.blue Finco SARL, Term Loan, 6.383%, (3 mo. EURIBOR + 3.70%), 9/30/29 | EUR | 1,000 | 1,034,881 |
| $ 22,888,800 | |||
| Leisure Products — 0.2% | |||
| Accell Group NV, Term Loan, 7.556%, (6 mo. EURIBOR + 4.90%), 6/14/29 | EUR | 500 | $ 80,278 |
| Fender Musical Instruments Corp., Term Loan, 8.457%, (SOFR + 4.00%), 12/1/28 | 302 | 297,062 | |
| Recess Holdings, Inc., Term Loan, 9.085%, (SOFR + 4.50%), 2/20/30 | 968 | 978,777 | |
| Tait LLC, Term Loan, 8.857%, (SOFR + 4.50%), 10/1/31 | 1,000 | 1,010,000 | |
| $ 2,366,117 | |||
| Life Sciences Tools & Services — 0.4% | |||
| Curia Global, Inc., Term Loan, 8.435%, (SOFR + 3.75%), 8/30/26 | 240 | $ 230,167 | |
| IQVIA, Inc., Term Loan, 6.329%, (SOFR + 2.00%), 1/2/31 | 1,312 | 1,322,244 | |
| LGC Group Holdings Ltd., Term Loan, 6.113%, (1 mo. EURIBOR + 3.25%), 4/21/27 | EUR | 1,000 | 1,033,550 |
| Loire Finco Luxembourg SARL, Term Loan, 7.957%, (SOFR + 3.50%), 4/21/27 | 335 | 334,157 | |
| Packaging Coordinators Midco, Inc., Term Loan, 7.835%, (SOFR + 3.25%), 11/30/27 | 1,332 | 1,339,244 | |
| $ 4,259,362 | |||
| Machinery — 2.4% | |||
| American Trailer World Corp., Term Loan, 8.207%, (SOFR + 3.75%), 3/3/28 | 612 | $ 546,476 | |
| Apex Tool Group LLC: | |||
| Term Loan, 14.457%, (SOFR + 10.10%), 11.957% cash, 2.50% PIK, 2/8/30 | 1,958 | 1,859,634 | |
| Term Loan - Second Lien, 11.707%, (SOFR + 7.35%), 4.357% cash, 7.35% PIK, 2/8/29 | 838 | 788,065 | |
| Barnes Group, Inc., Term Loan, 6.857%, (SOFR + 2.50%), 9/3/30 | 493 | 494,517 | |
| Conair Holdings LLC, Term Loan, 8.222%, (SOFR + 3.75%), 5/17/28 | 1,500 | 1,354,221 | |
| CPM Holdings, Inc., Term Loan, 9.053%, (SOFR + 4.50%), 9/28/28 | 299 | 291,067 | |
| Crown Equipment Corp., Term Loan, 6.944%, (SOFR + 2.50%), 10/10/31 | 1,050 | 1,058,531 | |
| Cube Industrials Buyer, Inc., Term Loan, 8.132%, (SOFR + 3.50%), 10/17/31 | 425 | 428,364 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Machinery (continued) | |||
| Delachaux Group SA, Term Loan, 6.556%, (3 mo. EURIBOR + 3.50%), 4/16/29 | EUR | 922 | $ 963,191 |
| EMRLD Borrower LP: | |||
| Term Loan, 6.829%, (SOFR + 2.50%), 8/4/31 | 1,047 | 1,052,832 | |
| Term Loan, 6.933%, (SOFR + 2.50%), 5/31/30 | 711 | 714,412 | |
| Engineered Machinery Holdings, Inc.: | |||
| Term Loan, 6.433%, (3 mo. EURIBOR + 3.75%), 5/21/28 | EUR | 968 | 1,008,764 |
| Term Loan, 8.34%, (SOFR + 3.75%), 5/19/28 | 2,592 | 2,615,483 | |
| Filtration Group Corp.: | |||
| Term Loan, 7.113%, (1 mo. EURIBOR + 4.25%), 10/21/28 | EUR | 1,184 | 1,236,971 |
| Term Loan, 7.972%, (SOFR + 3.50%), 10/21/28 | 726 | 732,246 | |
| Gates Global LLC, Term Loan, 6.107%, (SOFR + 1.75%), 6/4/31 | 3,591 | 3,602,904 | |
| Icebox Holdco III, Inc., Term Loan, 8.086%, (SOFR + 3.50%), 12/22/28 | 827 | 835,103 | |
| INNIO Group Holding GmbH, Term Loan, 6.955%, (3 mo. EURIBOR + 3.75%), 11/2/28 | EUR | 578 | 602,308 |
| Roper Industrial Products Investment Co. LLC: | |||
| Term Loan, 6.183%, (3 mo. EURIBOR + 3.50%), 11/22/29 | EUR | 493 | 512,827 |
| Term Loan, 7.079%, (SOFR + 2.75%), 11/22/29 | 591 | 593,261 | |
| SPX Flow, Inc., Term Loan, 7.357%, (SOFR + 3.00%), 4/5/29 | 939 | 948,255 | |
| Terex Corp., Term Loan, 6.357%, (SOFR + 2.00%), 10/8/31 | 2,375 | 2,386,139 | |
| TK Elevator Topco GmbH, Term Loan, 7.215%, (6 mo. EURIBOR + 3.63%), 7/30/27 | EUR | 1,500 | 1,562,709 |
| TK Elevator U.S. Newco, Inc., Term Loan, 8.588%, (SOFR + 3.50%), 4/30/30 | 1,991 | 2,007,678 | |
| Zephyr German BidCo GmbH, Term Loan, 6.281%, (3 mo. EURIBOR + 3.40%), 3/10/28 | EUR | 1,500 | 1,553,534 |
| $ 29,749,492 | |||
| Marine Transportation — 0.1% | |||
| Boluda Towage SL, Term Loan, 6.412%, (3 mo. EURIBOR + 3.50%), 1/31/30 | EUR | 1,000 | $ 1,044,168 |
| $ 1,044,168 | |||
| Media — 0.4% | |||
| Aragorn Parent Corp., Term Loan, 8.339%, (SOFR + 4.00%), 12/15/28 | 944 | $ 952,958 | |
| Axel Springer SE, Term Loan, 7.589%, (3 mo. EURIBOR + 4.75%), 12/18/26 | EUR | 1,000 | 1,041,029 |
| Charter Communications Operating LLC, Term Loan, 6.781%, (SOFR + 2.25%), 12/15/31 | 575 | 574,439 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Media (continued) | |||
| Gray Television, Inc., Term Loan, 7.667%, (SOFR + 3.00%), 12/1/28 | 922 | $ 853,945 | |
| Hubbard Radio LLC, Term Loan, 8.857%, (SOFR + 4.50%), 9/30/27 | 538 | 368,484 | |
| iHeartCommunications, Inc., Term Loan, 10.391%, (SOFR + 5.78%), 5/1/29 | 421 | 377,654 | |
| MJH Healthcare Holdings LLC, Term Loan, 7.707%, (SOFR + 3.25%), 1/28/29 | 491 | 494,569 | |
| Sinclair Television Group, Inc., Term Loan, 6.972%, (SOFR + 2.50%), 9/30/26 | 615 | 609,100 | |
| $ 5,272,178 | |||
| Metals/Mining — 0.4% | |||
| AAP Buyer, Inc., Term Loan, 7.607%, (SOFR + 3.25%), 9/9/31 | 475 | $ 479,453 | |
| American Consolidated Natural Resources, Inc., Term Loan - Second Lien, 13.00%, 12/11/29(22) | 401 | 400,603 | |
| Arsenal AIC Parent LLC, Term Loan, 7.607%, (SOFR + 3.25%), 8/18/30 | 741 | 747,884 | |
| Dynacast International LLC, Term Loan, 13.864%, (SOFR + 9.25%), 10/22/25 | 397 | 387,239 | |
| Minerals Technologies, Inc., Term Loan, 6.339%, (SOFR + 2.00%), 11/21/31 | 525 | 527,625 | |
| Navoi Mining & Metallurgical Co., Term Loan, 9.407%, (SOFR + 4.76%), 4/23/27 | 223 | 222,241 | |
| PMHC II, Inc., Term Loan, 9.058%, (SOFR + 4.25%), 4/23/29 | 982 | 970,407 | |
| WireCo WorldGroup, Inc., Term Loan, 8.382%, (SOFR + 3.75%), 11/13/28 | 433 | 406,621 | |
| Zekelman Industries, Inc., Term Loan, 6.62%, (SOFR + 2.25%), 1/24/31 | 1,089 | 1,091,964 | |
| $ 5,234,037 | |||
| Oil, Gas & Consumable Fuels — 0.5% | |||
| Epic Crude Services LP, Term Loan, 7.656%, (SOFR + 3.00%), 10/15/31 | 625 | $ 631,250 | |
| Freeport LNG Investments LLLP, Term Loan, 8.379%, (SOFR + 3.50%), 12/21/28 | 651 | 655,309 | |
| ITT Holdings LLC, Term Loan, 7.107%, (SOFR + 2.75%), 10/11/30 | 790 | 795,857 | |
| Matador Bidco SARL, Term Loan, 8.707%, (SOFR + 4.25%), 7/30/29 | 1,529 | 1,544,288 | |
| Oryx Midstream Services Permian Basin LLC, Term Loan, 7.512%, (SOFR + 3.00%), 10/5/28 | 1,013 | 1,020,583 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Oil, Gas & Consumable Fuels (continued) | |||
| Oxbow Carbon LLC, Term Loan, 7.857%, (SOFR + 3.50%), 5/10/30 | 517 | $ 517,771 | |
| UGI Energy Services LLC, Term Loan, 6.857%, (SOFR + 2.50%), 2/22/30 | 1,458 | 1,466,432 | |
| $ 6,631,490 | |||
| Passenger Airlines — 0.0%(12) | |||
| WestJet Loyalty LP, Term Loan, 7.579%, (SOFR + 3.25%), 2/14/31 | 496 | $ 498,910 | |
| $ 498,910 | |||
| Personal Products — 0.1% | |||
| Rainbow Finco SARL, Term Loan, 6.632%, (6 mo. EURIBOR + 3.25%), 2/23/29 | EUR | 1,000 | $ 1,038,859 |
| $ 1,038,859 | |||
| Pharmaceuticals — 0.6% | |||
| AI Sirona (Luxembourg) Acquisition SARL, Term Loan, 6.363%, (1 mo. EURIBOR + 3.50%), 9/30/28 | EUR | 1,000 | $ 1,041,573 |
| Ceva Sante Animale: | |||
| Term Loan, 6.183%, (3 mo. EURIBOR + 3.50%), 11/8/30 | EUR | 1,500 | 1,561,831 |
| Term Loan, 7.772%, (SOFR + 3.25%), 11/8/30 | 397 | 400,142 | |
| Jazz Financing Lux SARL, Term Loan, 6.607%, (SOFR + 2.25%), 5/5/28 | 1,411 | 1,416,158 | |
| Mallinckrodt International Finance SA, Term Loan - Second Lien, 14.00%, (SOFR 4.50%), 11/14/28 | 1,490 | 1,587,682 | |
| Nidda Healthcare Holding AG, Term Loan, 7.006%, (3 mo. EURIBOR + 4.00%), 2/21/30 | EUR | 750 | 781,863 |
| Recipharm AB, Term Loan, 5.955%, (3 mo. EURIBOR + 2.95%), 2/17/28 | EUR | 1,000 | 1,028,407 |
| $ 7,817,656 | |||
| Professional Services — 2.6% | |||
| AAL Delaware Holdco, Inc., Term Loan, 7.857%, (SOFR + 3.50%), 7/30/31 | 698 | $ 704,800 | |
| AlixPartners LLP: | |||
| Term Loan, 5.683%, (3 mo. EURIBOR + 3.00%), 2/4/28 | EUR | 963 | 1,000,654 |
| Term Loan, 6.972%, (SOFR + 2.50%), 2/4/28 | 1,913 | 1,922,951 | |
| Amspec Parent LLC: | |||
| Term Loan, 12/12/31(19) | 802 | 807,679 | |
| Term Loan, 12/12/31(19) | 123 | 124,258 | |
| APFS Staffing Holdings, Inc., Term Loan, 8.607%, (SOFR + 4.00%), 12/29/28 | 263 | 264,917 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Professional Services (continued) | |||
| Apleona Holding GmbH, Term Loan, 5.756%, (3 mo. EURIBOR + 2.70%), 4/28/28 | EUR | 1,000 | $ 1,038,009 |
| Camelot U.S. Acquisition LLC, Term Loan, 7.107%, (SOFR + 2.75%), 1/31/31 | 2,086 | 2,086,616 | |
| CoreLogic, Inc., Term Loan, 7.972%, (SOFR + 3.50%), 6/2/28 | 2,026 | 2,004,076 | |
| Corporation Service Co., Term Loan, 6.857%, (SOFR + 2.50%), 11/2/29 | 264 | 265,821 | |
| Crisis Prevention Institute, Inc., Term Loan, 8.392%, (SOFR + 4.00%), 4/9/31 | 325 | 327,031 | |
| Deerfield Dakota Holding LLC, Term Loan, 8.079%, (SOFR + 3.75%), 4/9/27 | 2,032 | 1,991,928 | |
| EAB Global, Inc., Term Loan, 7.607%, (SOFR + 3.25%), 8/16/28 | 223 | 224,457 | |
| Employbridge Holding Co., Term Loan, 9.621%, (SOFR + 4.75%), 7/19/28 | 2,297 | 1,526,255 | |
| First Advantage Holdings LLC, Term Loan, 7.607%, (SOFR + 3.25%), 10/31/31 | 2,231 | 2,257,635 | |
| Fleet Midco I Ltd., Term Loan, 7.578%, (SOFR + 2.75%), 2/21/31 | 661 | 666,072 | |
| Galaxy Bidco Ltd., Term Loan, 12/19/29(19) | EUR | 1,000 | 1,040,221 |
| Genuine Financial Holdings LLC, Term Loan, 8.357%, (SOFR + 4.00%), 9/27/30 | 395 | 399,938 | |
| Lernen Bidco Ltd., Term Loan, 8.589%, (SOFR + 4.00%), 10/27/31 | 550 | 556,875 | |
| Mermaid Bidco, Inc.: | |||
| Term Loan, 6.835%, (3 mo. EURIBOR + 3.75%), 7/3/31 | EUR | 1,000 | 1,043,624 |
| Term Loan, 7.804%, (SOFR + 3.25%), 7/3/31 | 549 | 552,588 | |
| Neptune Bidco U.S., Inc., Term Loan, 9.758%, (SOFR + 5.00%), 4/11/29 | 1,872 | 1,684,687 | |
| PHM Group Holding OYJ, Term Loan, 7.848%, (3 mo. EURIBOR + 4.75%), 6/24/31 | EUR | 500 | 521,486 |
| Planet U.S. Buyer LLC, Term Loan, 7.521%, (SOFR + 3.00%), 2/7/31 | 1,194 | 1,205,755 | |
| Saphilux SARL, Term Loan, 6.694%, (6 mo. EURIBOR + 4.00%), 7/18/28 | EUR | 500 | 522,045 |
| Stepstone Group Midco 2 GmbH: | |||
| Term Loan, 12/4/31(19) | EUR | 500 | 512,906 |
| Term Loan, 12/4/31(19) | 825 | 816,750 | |
| Techem Verwaltungsgesellschaft 675 GmbH, Term Loan, 6.782%, (3 mo. EURIBOR + 3.75%), 7/15/29 | EUR | 1,826 | 1,905,618 |
| Teneo Holdings LLC, Term Loan, 9.107%, (SOFR + 4.75%), 3/13/31 | 1,242 | 1,254,560 | |
| Tidal Waste & Recycling Holdings LLC, Term Loan, 7.829%, (SOFR + 3.50%), 10/24/31 | 650 | 655,892 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Professional Services (continued) | |||
| Trans Union LLC, Term Loan, 6.107%, (SOFR + 1.75%), 6/24/31 | 1,242 | $ 1,242,044 | |
| Vaco Holdings LLC, Term Loan, 9.479%, (SOFR + 5.00%), 1/21/29 | 267 | 247,633 | |
| $ 31,375,781 | |||
| Real Estate Management & Development — 0.5% | |||
| Cushman & Wakefield U.S. Borrower LLC: | |||
| Term Loan, 7.357%, (SOFR + 3.00%), 1/31/30 | 2,975 | $ 2,989,408 | |
| Term Loan, 7.607%, (SOFR + 3.25%), 1/31/30 | 1,229 | 1,244,689 | |
| Greystar Real Estate Partners LLC, Term Loan, 7.089%, (SOFR + 2.75%), 8/21/30 | 593 | 597,715 | |
| Homeserve USA Holding Corp., Term Loan, 6.37%, (SOFR + 2.00%), 10/21/30 | 893 | 895,148 | |
| $ 5,726,960 | |||
| Road & Rail — 0.3% | |||
| Hertz Corp.: | |||
| Term Loan, 7.972%, (SOFR + 3.50%), 6/30/28 | 1,015 | $ 917,627 | |
| Term Loan, 7.972%, (SOFR + 3.50%), 6/30/28 | 198 | 179,210 | |
| Term Loan, 8.089%, (SOFR + 3.75%), 6/30/28 | 718 | 650,759 | |
| Kenan Advantage Group, Inc., Term Loan, 7.607%, (SOFR + 3.25%), 1/25/29 | 2,166 | 2,182,415 | |
| $ 3,930,011 | |||
| Semiconductors & Semiconductor Equipment — 0.3% | |||
| Altar Bidco, Inc., Term Loan, 7.247%, (SOFR + 3.10%), 2/1/29 | 1,243 | $ 1,242,348 | |
| Bright Bidco BV, Term Loan, 12.585%, (SOFR + 8.00%), 10/31/27 | 354 | 175,108 | |
| MaxLinear, Inc., Term Loan, 6.703%, (SOFR + 2.25%), 6/23/28 | 286 | 276,428 | |
| MKS Instruments, Inc., Term Loan, 5.596%, (1 mo. EURIBOR + 2.75%), 8/17/29 | EUR | 1,473 | 1,533,629 |
| $ 3,227,513 | |||
| Software — 5.0% | |||
| Applied Systems, Inc., Term Loan, 7.329%, (SOFR + 3.00%), 2/24/31 | 5,079 | $ 5,134,085 | |
| Astra Acquisition Corp.: | |||
| Term Loan, 9.579%, (SOFR + 5.25%), 10/25/28 | 853 | 62,579 | |
| Term Loan, 11.079%, (SOFR + 6.75%), 2/25/28 | 611 | 410,584 | |
| Term Loan, 17.649%, (SOFR + 13.32%), 10/25/29 | 1,261 | 94,556 | |
| Boxer Parent Co., Inc.: | |||
| Term Loan, 7.056%, (3 mo. EURIBOR + 4.00%), 7/30/31 | EUR | 481 | 502,227 |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Software (continued) | |||
| Boxer Parent Co., Inc.: (continued) | |||
| Term Loan, 8.335%, (SOFR + 3.75%), 7/30/31 | 2,967 | $ 2,994,792 | |
| Cegid Group SAS, Term Loan, 6.836%, (3 mo. EURIBOR + 3.75%), 7/10/28 | EUR | 1,000 | 1,041,143 |
| Central Parent, Inc., Term Loan, 7.579%, (SOFR + 3.25%), 7/6/29 | 2,252 | 2,225,412 | |
| Cloud Software Group, Inc., Term Loan, 7.829%, (SOFR + 3.50%), 3/30/29 | 1,100 | 1,104,991 | |
| Cloudera, Inc.: | |||
| Term Loan, 8.207%, (SOFR + 3.75%), 10/8/28 | 3,789 | 3,786,381 | |
| Term Loan - Second Lien, 10.457%, (SOFR + 6.00%), 10/8/29 | 775 | 762,406 | |
| Clover Holdings SPV III LLC, Term Loan, 15.00%, 12/18/27(22) | 256 | 257,117 | |
| Constant Contact, Inc., Term Loan, 8.918%, (SOFR + 4.00%), 2/10/28 | 1,701 | 1,528,394 | |
| Cornerstone OnDemand, Inc., Term Loan, 8.222%, (SOFR + 3.75%), 10/16/28 | 1,313 | 1,159,269 | |
| Dragon Buyer, Inc., Term Loan, 7.579%, (SOFR + 3.25%), 9/30/31 | 1,425 | 1,429,745 | |
| Drake Software LLC, Term Loan, 8.607%, (SOFR + 4.25%), 6/26/31 | 2,045 | 1,993,753 | |
| ECI Macola Max Holding LLC, Term Loan, 7.579%, (SOFR + 3.25%), 5/9/30 | 1,398 | 1,413,281 | |
| Epicor Software Corp., Term Loan, 7.107%, (SOFR + 2.75%), 5/30/31 | 2,320 | 2,339,448 | |
| Fiserv Investment Solutions, Inc., Term Loan, 8.521%, (SOFR + 4.00%), 2/18/27 | 501 | 484,218 | |
| GoTo Group, Inc.: | |||
| Term Loan, 9.297%, (SOFR + 4.75%), 4/28/28 | 943 | 861,428 | |
| Term Loan - Second Lien, 9.297%, (SOFR + 4.75%), 4/28/28 | 592 | 272,087 | |
| IGT Holding IV AB, Term Loan, 6.083%, (3 mo. EURIBOR + 3.40%), 3/31/28 | EUR | 1,000 | 1,036,772 |
| iSolved, Inc., Term Loan, 7.607%, (SOFR + 3.25%), 10/15/30 | 496 | 502,850 | |
| Ivanti Software, Inc., Term Loan, 9.121%, (SOFR + 4.25%), 12/1/27 | 1,427 | 990,013 | |
| Marcel LUX IV SARL: | |||
| Term Loan, 6.764%, (1 mo. EURIBOR + 3.75%), 11/9/30 | EUR | 1,500 | 1,562,033 |
| Term Loan, 8.07%, (SOFR + 3.50%), 11/9/30 | 1,219 | 1,237,166 | |
| McAfee LLC: | |||
| Term Loan, 6.556%, (3 mo. EURIBOR + 3.50%), 3/1/29 | EUR | 978 | 1,013,611 |
| Term Loan, 7.37%, (SOFR + 3.00%), 3/1/29 | 2,744 | 2,749,954 | |
| Mosel Bidco SE: | |||
| Term Loan, 6.965%, (3 mo. EURIBOR + 4.25%), 9/16/30 | EUR | 750 | 781,689 |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Software (continued) | |||
| Mosel Bidco SE: (continued) | |||
| Term Loan, 8.829%, (SOFR + 4.50%), 9/16/30 | 250 | $ 253,125 | |
| OceanKey (U.S.) II Corp., Term Loan, 7.957%, (SOFR + 3.50%), 12/15/28 | 608 | 610,724 | |
| Open Text Corp., Term Loan, 6.107%, (SOFR + 1.75%), 1/31/30 | 845 | 846,276 | |
| Polaris Newco LLC: | |||
| Term Loan, 6.863%, (1 mo. EURIBOR + 4.00%), 6/2/28 | EUR | 968 | 969,428 |
| Term Loan, 8.847%, (SOFR + 4.00%), 6/2/28 | 2,758 | 2,766,860 | |
| Proofpoint, Inc., Term Loan, 7.357%, (SOFR + 3.00%), 8/31/28 | 2,425 | 2,439,987 | |
| Quartz Acquireco LLC, Term Loan, 7.079%, (SOFR + 2.75%), 6/28/30 | 741 | 747,106 | |
| Quest Software U.S. Holdings, Inc., Term Loan, 8.792%, (SOFR + 4.25%), 2/1/29 | 985 | 641,816 | |
| RealPage, Inc.: | |||
| Term Loan, 7.59%, (SOFR + 3.00%), 4/24/28 | 2,782 | 2,780,144 | |
| Term Loan, 8.079%, (SOFR + 3.75%), 4/24/28 | 450 | 452,673 | |
| Sabre GLBL, Inc.: | |||
| Term Loan, 8.707%, (SOFR + 4.25%), 6/30/28 | 166 | 162,376 | |
| Term Loan, 10.457%, (SOFR + 6.00%), 11/15/29 | 934 | 931,340 | |
| SolarWinds Holdings, Inc., Term Loan, 7.107%, (SOFR + 2.75%), 2/5/30 | 1,812 | 1,823,957 | |
| Sophia LP, Term Loan, 7.357%, (SOFR + 3.00%), 10/9/29 | 312 | 314,935 | |
| UKG, Inc., Term Loan, 7.329%, (SOFR + 3.00%), 2/10/31 | 4,213 | 4,248,143 | |
| Veritas U.S., Inc., Term Loan, 19.25%, (USD Prime + 11.50%), 12/9/29 | 765 | 762,153 | |
| Vision Solutions, Inc., Term Loan, 8.847%, (SOFR + 4.00%), 4/24/28 | 412 | 406,653 | |
| $ 60,889,680 | |||
| Specialty Retail — 1.3% | |||
| Apro LLC, Term Loan, 8.266%, (SOFR + 3.75%), 7/9/31 | 599 | $ 605,107 | |
| Boels Topholding BV, Term Loan, 6.04%, (3 mo. EURIBOR + 3.00%), 5/23/31 | EUR | 862 | 900,229 |
| EG Group Ltd., Term Loan, 2/7/28(19) | EUR | 500 | 519,707 |
| Etraveli Holding AB, Term Loan, 6.823%, (3 mo. EURIBOR + 4.00%), 11/2/28 | EUR | 937 | 975,883 |
| Great Outdoors Group LLC, Term Loan, 8.222%, (SOFR + 3.75%), 3/6/28 | 2,353 | 2,368,477 | |
| Harbor Freight Tools USA, Inc., Term Loan, 6.902%, (SOFR + 2.50%), 6/11/31(21) | 2,344 | 2,315,269 | |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Specialty Retail (continued) | |||
| Hoya Midco LLC, Term Loan, 7.585%, (SOFR + 3.00%), 2/3/29 | 973 | $ 984,190 | |
| Les Schwab Tire Centers, Term Loan, 7.357%, (SOFR + 3.00%), 4/23/31 | 3,292 | 3,312,310 | |
| Mattress Firm, Inc., Term Loan, 8.924%, (SOFR + 4.25%), 9/25/28 | 1,165 | 1,165,924 | |
| PetSmart, Inc., Term Loan, 8.207%, (SOFR + 3.75%), 2/11/28 | 1,282 | 1,279,265 | |
| Speedster Bidco GmbH: | |||
| Term Loan, 5.662%, (6 mo. EURIBOR + 2.50%), 3/31/27 | EUR | 1,000 | 1,041,744 |
| Term Loan, 10/17/31(19) | 850 | 853,366 | |
| $ 16,321,471 | |||
| Technology Hardware, Storage & Peripherals — 0.0%(12) | |||
| Poseidon Bidco SASU, Term Loan, 7.683%, (3 mo. EURIBOR + 5.00%), 3/13/30 | EUR | 750 | $ 507,346 |
| $ 507,346 | |||
| Trading Companies & Distributors — 1.5% | |||
| American Builders & Contractors Supply Co., Inc., Term Loan, 6.107%, (SOFR + 1.75%), 1/31/31 | 2,328 | $ 2,339,340 | |
| Beacon Roofing Supply, Inc., Term Loan, 6.357%, (SOFR + 2.00%), 5/19/28 | 545 | 547,078 | |
| Core & Main LP, Term Loan, 6.382%, (SOFR + 2.00%), 2/9/31 | 372 | 373,818 | |
| DXP Enterprises, Inc., Term Loan, 8.107%, (SOFR + 3.75%), 10/11/30 | 667 | 675,745 | |
| Foundation Building Materials Holding Co. LLC, Term Loan, 8.585%, (SOFR + 4.00%), 1/29/31 | 1,241 | 1,224,348 | |
| Patagonia Bidco Ltd., Term Loan, 10.20%, (SONIA + 5.25%), 11/1/28 | GBP | 1,000 | 1,140,650 |
| PEARLS (Netherlands) Bidco BV, Term Loan, 7.056%, (3 mo. EURIBOR + 4.00%), 2/26/29 | EUR | 1,000 | 1,043,375 |
| Quimper AB, Term Loan, 7.076%, (1 mo. EURIBOR + 3.75%), 3/15/30 | EUR | 1,875 | 1,951,793 |
| Ramudden Global Group GmbH, Term Loan, 7.095%, (1 mo. EURIBOR + 4.25%), 12/10/29 | EUR | 1,000 | 1,039,232 |
| Spin Holdco, Inc., Term Loan, 8.706%, (SOFR + 4.00%), 3/4/28 | 3,754 | 3,178,094 | |
| White Cap Buyer LLC, Term Loan, 7.607%, (SOFR + 3.25%), 10/19/29 | 3,427 | 3,437,937 | |
| Windsor Holdings III LLC: | |||
| Term Loan, 6.295%, (1 mo. EURIBOR + 3.50%), 8/1/30 | EUR | 500 | 520,885 |
| Term Loan, 7.856%, (SOFR + 3.50%), 8/1/30 | 1,136 | 1,151,612 | |
| $ 18,623,907 | |||
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Transportation Infrastructure — 0.1% | |||
| Brown Group Holding LLC: | |||
| Term Loan, 6.857%, (SOFR + 2.50%), 7/1/31 | 218 | $ 218,905 | |
| Term Loan, 7.002%, (SOFR + 2.50%), 7/1/31(21) | 246 | 246,648 | |
| KKR Apple Bidco LLC, Term Loan, 7.222%, (SOFR + 2.75%), 9/22/28 | 170 | 170,931 | |
| $ 636,484 | |||
| Wireless Telecommunication Services — 0.4% | |||
| CCI Buyer, Inc., Term Loan, 8.329%, (SOFR + 4.00%), 12/17/27 | 445 | $ 446,366 | |
| Digicel International Finance Ltd., Term Loan, 11.335%, (SOFR + 6.75%), 5/25/27 | 5,026 | 4,894,932 | |
| $ 5,341,298 | |||
| Total Senior Floating-Rate Loans (identified cost $565,107,211) | $ 547,090,030 | ||
| Sovereign Government Bonds — 4.2% |
| Security | Principal Amount* (000's omitted) | Value | |
| Albania — 0.0%(12) | |||
| Albania Government International Bonds, 3.50%, 11/23/31(13) | EUR | 300 | $ 292,540 |
| $ 292,540 | |||
| Angola — 0.2% | |||
| Angola Government International Bonds: | |||
| 8.75%, 4/14/32(13) | 1,161 | $ 1,028,726 | |
| 9.125%, 11/26/49(13) | 600 | 482,817 | |
| 9.375%, 5/8/48(13) | 820 | 674,696 | |
| $ 2,186,239 | |||
| Argentina — 0.1% | |||
| Argentina Bonar Bonds, 0.75% to 7/9/27, 7/9/30(3) | 690 | $ 509,507 | |
| Argentina Republic Government International Bonds: | |||
| 3.50% to 7/9/29, 7/9/41(3) | 200 | 125,333 | |
| 4.125% to 7/9/27, 7/9/35(3) | 500 | 332,828 | |
| 5.00%, 1/9/38 | 800 | 561,271 | |
| $ 1,528,939 | |||
| Security | Principal Amount* (000's omitted) | Value | |
| Bahamas — 0.0%(12) | |||
| Bahamas Government International Bonds: | |||
| 6.95%, 11/20/29(13) | 8 | $ 7,668 | |
| 8.95%, 10/15/32(13) | 200 | 207,300 | |
| $ 214,968 | |||
| Barbados — 0.0%(12) | |||
| Barbados Government International Bonds, 6.50%, 10/1/29(1) | 270 | $ 265,140 | |
| $ 265,140 | |||
| Benin — 0.2% | |||
| Benin Government International Bonds: | |||
| 4.875%, 1/19/32(13) | EUR | 406 | $ 380,865 |
| 4.95%, 1/22/35(13) | EUR | 430 | 377,942 |
| 6.875%, 1/19/52(13) | EUR | 1,158 | 1,012,319 |
| 7.96%, 2/13/38(13) | 200 | 188,954 | |
| $ 1,960,080 | |||
| Brazil — 0.2% | |||
| Brazil Government International Bonds: | |||
| 3.875%, 6/12/30 | 371 | $ 326,904 | |
| 4.625%, 1/13/28 | 1,100 | 1,061,850 | |
| 5.00%, 1/27/45 | 600 | 442,878 | |
| $ 1,831,632 | |||
| Cameroon — 0.2% | |||
| Republic of Cameroon International Bonds: | |||
| 5.95%, 7/7/32(13) | EUR | 500 | $ 419,771 |
| 9.50%, 7/31/31(13) | 1,762 | 1,671,830 | |
| $ 2,091,601 | |||
| Chile — 0.1% | |||
| Chile Government International Bonds: | |||
| 2.45%, 1/31/31 | 200 | $ 171,605 | |
| 2.55%, 7/27/33 | 600 | 484,705 | |
| 3.50%, 1/25/50 | 300 | 207,804 | |
| $ 864,114 | |||
| Colombia — 0.1% | |||
| Colombia Government International Bonds: | |||
| 3.25%, 4/22/32 | 900 | $ 691,875 | |
| 4.125%, 5/15/51 | 430 | 247,201 | |
| $ 939,076 | |||
| Security | Principal Amount* (000's omitted) | Value | |
| Costa Rica — 0.0%(12) | |||
| Costa Rica Government International Bonds, 6.55%, 4/3/34(13) | 460 | $ 468,568 | |
| $ 468,568 | |||
| Dominican Republic — 0.1% | |||
| Dominican Republic International Bonds: | |||
| 4.50%, 1/30/30(13) | 250 | $ 229,563 | |
| 4.875%, 9/23/32(13) | 530 | 474,350 | |
| 5.95%, 1/25/27(13) | 200 | 199,200 | |
| 7.45%, 4/30/44(13) | 300 | 315,300 | |
| $ 1,218,413 | |||
| Ecuador — 0.1% | |||
| Ecuador Government International Bonds: | |||
| 0.00%, 7/31/30(13) | 329 | $ 180,629 | |
| 5.00%, 7/31/40(13) | 285 | 126,034 | |
| 6.90%, 7/31/30(13) | 1,114 | 778,534 | |
| $ 1,085,197 | |||
| Egypt — 0.3% | |||
| Egypt Government International Bonds: | |||
| 5.25%, 10/6/25(1) | 200 | $ 198,262 | |
| 5.625%, 4/16/30(13) | EUR | 995 | 901,125 |
| 5.80%, 9/30/27(13) | 427 | 400,686 | |
| 6.375%, 4/11/31(13) | EUR | 400 | 366,147 |
| 7.053%, 1/15/32(13) | 442 | 379,910 | |
| 7.50%, 2/16/61(13) | 260 | 178,856 | |
| 7.625%, 5/29/32(13) | 200 | 176,203 | |
| 7.903%, 2/21/48(13) | 393 | 289,314 | |
| 8.15%, 11/20/59(13) | 200 | 147,750 | |
| 8.50%, 1/31/47(13) | 200 | 155,674 | |
| 8.70%, 3/1/49(13) | 400 | 315,641 | |
| 8.875%, 5/29/50(13) | 780 | 625,086 | |
| $ 4,134,654 | |||
| El Salvador — 0.1% | |||
| El Salvador Government International Bonds: | |||
| 7.65%, 6/15/35(13) | 184 | $ 178,581 | |
| 8.25%, 4/10/32(13) | 598 | 607,942 | |
| 9.25%, 4/17/30(13) | 150 | 159,187 | |
| 9.65%, 11/21/54(1) | 252 | 266,112 | |
| $ 1,211,822 | |||
| Security | Principal Amount* (000's omitted) | Value | |
| Ethiopia — 0.1% | |||
| Ethiopia International Bonds, 6.625%, 12/11/24(13)(17) | 1,854 | $ 1,478,565 | |
| $ 1,478,565 | |||
| Gabon — 0.0%(12) | |||
| Gabon Government International Bonds, 6.625%, 2/6/31(13) | 200 | $ 149,229 | |
| $ 149,229 | |||
| Ghana — 0.1% | |||
| Ghana Government International Bonds: | |||
| 0.00%, 1/3/30(13) | 64 | $ 49,730 | |
| 5.00% to 7/3/28, 7/3/29(3)(13) | 317 | 274,378 | |
| 5.00% to 7/3/28, 7/3/35(3)(13) | 370 | 261,508 | |
| $ 585,616 | |||
| Guatemala — 0.0%(12) | |||
| Guatemala Government Bonds, 5.375%, 4/24/32(13) | 538 | $ 508,948 | |
| $ 508,948 | |||
| Honduras — 0.0%(12) | |||
| Honduras Government International Bonds, 8.625%, 11/27/34(1) | 253 | $ 251,672 | |
| $ 251,672 | |||
| Hungary — 0.1% | |||
| Hungary Government International Bonds: | |||
| 2.125%, 9/22/31(13) | 400 | $ 317,795 | |
| 6.25%, 9/22/32(1)(13) | 900 | 919,220 | |
| $ 1,237,015 | |||
| India — 0.1% | |||
| Export-Import Bank of India: | |||
| 2.25%, 1/13/31(13) | 600 | $ 506,468 | |
| 5.50%, 1/18/33(1) | 230 | 231,846 | |
| $ 738,314 | |||
| Indonesia — 0.2% | |||
| Indonesia Government International Bonds: | |||
| 4.70%, 2/10/34 | 1,200 | $ 1,141,019 | |
| 5.10%, 2/10/54 | 560 | 516,581 | |
| Perusahaan Penerbit SBSN Indonesia III, 5.65%, 11/25/54(13) | 651 | 638,781 | |
| $ 2,296,381 | |||
| Security | Principal Amount* (000's omitted) | Value | |
| Iraq — 0.0%(12) | |||
| Iraq International Bonds, 5.80%, 1/15/28(13) | 109 | $ 106,576 | |
| $ 106,576 | |||
| Ivory Coast — 0.0%(12) | |||
| Ivory Coast Government International Bonds, 6.625%, 3/22/48(13) | EUR | 662 | $ 554,552 |
| $ 554,552 | |||
| Kenya — 0.0%(12) | |||
| Republic of Kenya Government International Bonds: | |||
| 8.00%, 5/22/32(13) | 200 | $ 181,850 | |
| 8.25%, 2/28/48(13) | 200 | 164,997 | |
| $ 346,847 | |||
| Kuwait — 0.0%(12) | |||
| Kuwait International Government Bonds, 3.50%, 3/20/27(13) | 247 | $ 239,645 | |
| $ 239,645 | |||
| Lebanon — 0.0%(12) | |||
| Lebanon Government International Bonds, 6.375%, 3/9/20(13)(17) | 1,110 | $ 143,421 | |
| $ 143,421 | |||
| Mexico — 0.1% | |||
| Mexico Government International Bonds: | |||
| 4.875%, 5/19/33 | 600 | $ 538,354 | |
| 5.00%, 4/27/51 | 300 | 226,077 | |
| 5.40%, 2/9/28 | 300 | 297,456 | |
| $ 1,061,887 | |||
| Mongolia — 0.0%(12) | |||
| Mongolia Government International Bonds, 5.125%, 4/7/26(1) | 200 | $ 196,950 | |
| $ 196,950 | |||
| Montenegro — 0.1% | |||
| Montenegro Government International Bonds: | |||
| 2.875%, 12/16/27(13) | EUR | 100 | $ 98,816 |
| 7.25%, 3/12/31(13) | 515 | 529,152 | |
| $ 627,968 | |||
| Security | Principal Amount* (000's omitted) | Value | |
| Morocco — 0.0%(12) | |||
| Morocco Government International Bonds, 3.00%, 12/15/32(13) | 365 | $ 298,461 | |
| $ 298,461 | |||
| Nigeria — 0.2% | |||
| Nigeria Government International Bonds: | |||
| 8.25%, 9/28/51(13) | 202 | $ 161,478 | |
| 9.625%, 6/9/31(13) | 740 | 739,441 | |
| 10.375%, 12/9/34(13) | 1,280 | 1,308,648 | |
| $ 2,209,567 | |||
| Oman — 0.1% | |||
| Oman Government International Bonds: | |||
| 5.375%, 3/8/27(13) | 200 | $ 199,120 | |
| 6.25%, 1/25/31(13) | 483 | 495,902 | |
| 6.75%, 1/17/48(13) | 230 | 233,547 | |
| 7.375%, 10/28/32(13) | 450 | 496,039 | |
| $ 1,424,608 | |||
| Pakistan — 0.0%(12) | |||
| Pakistan Government International Bonds: | |||
| 6.875%, 12/5/27(13) | 200 | $ 180,487 | |
| 7.375%, 4/8/31(13) | 200 | 167,342 | |
| $ 347,829 | |||
| Paraguay — 0.0%(12) | |||
| Paraguay Government International Bonds, 4.95%, 4/28/31(13) | 577 | $ 553,776 | |
| $ 553,776 | |||
| Peru — 0.1% | |||
| Peru Government International Bonds: | |||
| 2.783%, 1/23/31 | 700 | $ 599,025 | |
| 3.00%, 1/15/34 | 250 | 201,438 | |
| 3.30%, 3/11/41 | 447 | 323,516 | |
| $ 1,123,979 | |||
| Philippines — 0.1% | |||
| Philippines Government International Bonds: | |||
| 5.00%, 7/17/33 | 1,100 | $ 1,077,916 | |
| 5.50%, 1/17/48 | 290 | 283,497 | |
| $ 1,361,413 | |||
| Security | Principal Amount* (000's omitted) | Value | |
| Serbia — 0.1% | |||
| Serbia International Bonds, 2.125%, 12/1/30(13) | 1,003 | $ 816,309 | |
| $ 816,309 | |||
| Sri Lanka — 0.2% | |||
| Sri Lanka Government International Bonds: | |||
| 3.10% to 7/15/27, 1/15/30(1)(3) | 359 | $ 297,832 | |
| 3.35% to 9/15/27, 3/15/33(1)(3) | 704 | 535,840 | |
| 3.60% to 12/15/27, 6/15/35(1)(3) | 475 | 344,563 | |
| 3.60% to 11/15/27, 5/15/36(1)(3) | 330 | 251,503 | |
| 3.60% to 8/15/27, 2/15/38(1)(3) | 660 | 505,727 | |
| 4.00%, 4/15/28(1) | 463 | 434,615 | |
| $ 2,370,080 | |||
| Suriname — 0.2% | |||
| Suriname Government International Bonds: | |||
| 7.95%, (4.95% cash and 3.00% PIK), 7/15/33(1) | 1,283 | $ 1,155,026 | |
| 9.00%, 12/31/50(1) | 894 | 894,447 | |
| $ 2,049,473 | |||
| Tunisia — 0.0%(12) | |||
| Tunisian Republic, 6.375%, 7/15/26(13) | EUR | 556 | $ 550,486 |
| $ 550,486 | |||
| Turkey — 0.1% | |||
| Turkiye Government International Bonds: | |||
| 4.25%, 4/14/26 | 500 | $ 492,361 | |
| 4.875%, 4/16/43 | 260 | 181,194 | |
| 6.125%, 10/24/28 | 370 | 369,075 | |
| 6.75%, 5/30/40 | 300 | 271,598 | |
| 7.625%, 5/15/34 | 360 | 366,286 | |
| $ 1,680,514 | |||
| Ukraine — 0.1% | |||
| Ukraine Government International Bonds: | |||
| 0.00%, GDP-Linked, 8/1/41(13)(23) | 1,271 | $ 984,221 | |
| 0.00% to 2/1/27, 2/1/30(3)(13) | 17 | 9,237 | |
| 0.00% to 2/1/27, 2/1/34(3)(13) | 250 | 104,067 | |
| 0.00% to 2/1/27, 2/1/35(3)(13) | 150 | 88,947 | |
| 0.00% to 2/1/27, 2/1/36(3)(13) | 250 | 147,480 | |
| 1.75% to 8/1/25, 2/1/29(3)(13) | 100 | 69,767 | |
| 1.75% to 8/1/25, 2/1/34(3)(13) | 200 | 113,250 | |
| 1.75% to 8/1/25, 2/1/35(3)(13) | 200 | 110,446 | |
| 1.75% to 8/1/25, 2/1/36(3)(13) | 100 | 54,441 | |
| $ 1,681,856 | |||
| Security | Principal Amount* (000's omitted) | Value | |
| United Arab Emirates — 0.2% | |||
| Finance Department Government of Sharjah: | |||
| 4.375%, 3/10/51(13) | 900 | $ 620,253 | |
| 6.50%, 11/23/32(1)(13) | 1,250 | 1,293,307 | |
| $ 1,913,560 | |||
| Uruguay — 0.1% | |||
| Uruguay Government International Bonds: | |||
| 4.375%, 1/23/31 | 200 | $ 194,300 | |
| 5.10%, 6/18/50 | 300 | 276,208 | |
| 5.75%, 10/28/34 | 250 | 257,151 | |
| $ 727,659 | |||
| Uzbekistan — 0.1% | |||
| National Bank of Uzbekistan, 8.50%, 7/5/29(13) | 490 | $ 500,919 | |
| Republic of Uzbekistan International Bonds, 5.375%, 2/20/29(13) | 300 | 282,669 | |
| $ 783,588 | |||
| Venezuela — 0.1% | |||
| Venezuela Government International Bonds: | |||
| 6.00%, 12/9/20(13)(17) | 361 | $ 43,290 | |
| 7.00%, 12/1/18(13)(17) | 24 | 2,934 | |
| 7.00%, 3/31/38(13)(17) | 156 | 20,963 | |
| 7.65%, 4/21/25(13)(17) | 552 | 77,280 | |
| 7.75%, 10/13/19(13)(17) | 400 | 51,611 | |
| 8.25%, 10/13/24(13)(17) | 518 | 73,167 | |
| 9.00%, 5/7/23(13)(17) | 101 | 14,384 | |
| 9.25%, 9/15/27(17) | 693 | 111,746 | |
| 9.25%, 5/7/28(13)(17) | 470 | 69,310 | |
| 9.375%, 1/13/34(17) | 41 | 6,714 | |
| 11.75%, 10/21/26(13)(17) | 205 | 33,651 | |
| 11.95%, 8/5/31(13)(17) | 174 | 28,726 | |
| 12.75%, 8/23/22(13)(17) | 158 | 25,102 | |
| $ 558,878 | |||
| Zambia — 0.0%(12) | |||
| Zambia Government International Bonds: | |||
| 0.50%, 12/31/53(13) | 67 | $ 38,460 | |
| 5.75% to 6/30/31, 6/30/33(3)(13) | 73 | 64,662 | |
| $ 103,122 | |||
| Total Sovereign Government Bonds (identified cost $51,583,040) | $ 51,371,727 | ||
| Sovereign Loans — 0.3% |
| Borrower/Description | Principal Amount* (000's omitted) | Value | |
| Argentina — 0.0%(12) | |||
| Provincia De Neuquen, Term Loan, 11/1/27 | 190 | $ 191,486 | |
| $ 191,486 | |||
| Bahamas — 0.1% | |||
| Commonwealth of Bahamas, Term Loan, 9.447%, (3 mo. EURIBOR + 6.85%), 11/24/28(2) | EUR | 660 | $ 701,983 |
| $ 701,983 | |||
| Kenya — 0.0%(12) | |||
| Government of Kenya, Term Loan, 11.163%, (6 mo. SOFR + 6.45%), 6/29/25(2) | 312 | $ 313,481 | |
| $ 313,481 | |||
| Tanzania — 0.2% | |||
| Government of the United Republic of Tanzania, Term Loan, 11.176%, (6 mo. SOFR + 6.30%), 4/28/31(2) | 2,531 | $ 2,552,952 | |
| $ 2,552,952 | |||
| Total Sovereign Loans (identified cost $3,756,229) | $ 3,759,902 | ||
| U.S. Government Agency Mortgage-Backed Securities — 19.1% |
| Security | Principal Amount (000's omitted) | Value | |
| Federal Home Loan Mortgage Corp.: | |||
| 5.00%, 8/1/52 | $ | 38,280 | $ 37,056,514 |
| 5.50%, 5/1/32 | 190 | 193,566 | |
| 6.50%, 6/17/28 | 5 | 4,623 | |
| 7.00%, 10/17/27 | 4 | 3,610 | |
| 7.50%, with various maturities to 2035 | 316 | 329,695 | |
| 8.00%, with various maturities to 2030 | 19 | 19,231 | |
| 9.00%, with various maturities to 2031 | 8 | 8,542 | |
| Federal National Mortgage Association: | |||
| 4.50%, 7/1/42 | 2,260 | 2,192,627 | |
| 4.646%, (COF + 1.318%), 10/1/36(24) | 283 | 275,713 | |
| 5.00%, with various maturities to 2040 | 2,368 | 2,367,133 | |
| 5.50%, with various maturities to 2033 | 243 | 247,631 | |
| 6.00%, 5/1/29 | 51 | 51,861 | |
| 6.35%, (COF + 2.004%), 7/1/32(24) | 333 | 340,027 | |
| 6.50%, with various maturities to 2031 | 12 | 12,001 | |
| Security | Principal Amount (000's omitted) | Value | |
| Federal National Mortgage Association: (continued) | |||
| 6.614%, (6 mo. RFUCCT + 1.541%), 9/1/37(24) | $ | 433 | $ 437,888 |
| 7.00%, with various maturities to 2029 | 101 | 102,096 | |
| 7.007%, (1 yr. CMT + 2.285), 8/1/36(24) | 1,712 | 1,739,840 | |
| 7.50%, with various maturities to 2035 | 440 | 463,085 | |
| 8.00%, with various maturities to 2027 | 5 | 4,849 | |
| 8.037%, 9/15/27(4) | 5 | 4,601 | |
| 8.235%, 6/15/27(4) | 1 | 1,476 | |
| 8.243%, 9/20/28(4) | 2 | 2,295 | |
| 8.50%, 12/1/37 | 74 | 77,227 | |
| 8.636%, 10/15/29(4) | 0(25) | 511 | |
| 9.00%, 2/1/32 | 45 | 45,961 | |
| 9.50%, with various maturities to 2030 | 4 | 4,595 | |
| Government National Mortgage Association: | |||
| 4.00%, 9/20/49 | 213 | 197,154 | |
| 4.50%, with various maturities to 2052 | 2,254 | 2,144,906 | |
| 5.00%, 6/20/52 | 13,538 | 13,193,670 | |
| 5.50%, 30-Year, TBA(26) | 10,950 | 10,853,695 | |
| 5.50%, with various maturities to 2054 | 18,726 | 18,650,150 | |
| 6.00%, 30-Year, TBA(26) | 5,300 | 5,333,539 | |
| 6.00%, with various maturities to 2054 | 15,348 | 15,591,516 | |
| 6.50%, with various maturities to 2054 | 21,350 | 21,821,949 | |
| 7.00%, with various maturities to 2054 | 496 | 501,882 | |
| 7.50%, with various maturities to 2054 | 1,068 | 1,091,612 | |
| 8.00%, with various maturities to 2054 | 952 | 975,009 | |
| 9.00%, 12/15/25 | 4 | 4,139 | |
| Uniform Mortgage-Backed Security: | |||
| 5.00%, 30-Year, TBA(26) | 9,737 | 9,392,020 | |
| 5.50%, 30-Year, TBA(26) | 25,350 | 25,004,407 | |
| 6.00%, 30-Year, TBA(26) | 60,700 | 60,979,789 | |
| Total U.S. Government Agency Mortgage-Backed Securities (identified cost $236,560,039) | $ 231,722,635 | ||
| Warrants — 0.0%(12) |
| Security | Shares | Value | |
| Consumer Staples Distribution & Retail — 0.0%(12) | |||
| Casino Guichard Perrachon SA, Exp. 4/27/29(10) | 32,288 | $ 17 | |
| Total Warrants (identified cost $0) | $ 17 | ||
| Miscellaneous — 0.0%(12) |
| Security | Principal Amount/ Shares | Value | |
| Cable and Satellite Television — 0.0% | |||
| ACC Claims Holdings LLC(9)(10) | 2,257,600 | $ 0 | |
| $ 0 | |||
| Engineering & Construction — 0.0% | |||
| Abengoa Abenewco 2 SA, Escrow Certificates(1)(9)(17) | $ | 377,752 | $ 0 |
| Abengoa Abenewco 2 SA, Escrow Certificates(1)(9)(17) | 377,752 | 0 | |
| $ 0 | |||
| Entertainment — 0.0% | |||
| National CineMedia, Inc., Escrow Certificates(9)(10) | $ | 1,186,000 | $ 0 |
| $ 0 | |||
| Pharmaceuticals — 0.0% | |||
| Endo Design LLC, Escrow Certificates(1)(9)(10) | $ | 649,000 | $ 0 |
| Endo Luxembourg Finance SARL, Escrow Certificates(1)(9)(10) | 1,550,000 | 0 | |
| $ 0 | |||
| Surface Transport — 0.0%(12) | |||
| Hertz Corp., Escrow Certificates(1)(10) | $ | 364,000 | $ 70,070 |
| $ 70,070 | |||
| Total Miscellaneous (identified cost $0) | $ 70,070 | ||
| Short-Term Investments — 2.5% |
| Affiliated Fund — 2.4% |
| Security | Shares | Value | |
| Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 4.43%(27) | 28,760,637 | $ 28,760,637 | |
| Total Affiliated Fund (identified cost $28,760,637) | $ 28,760,637 | ||
| U.S. Treasury Obligations — 0.1% |
| Security | Principal Amount (000's omitted) | Value | |
| U.S. Treasury Bills: | |||
| 0.00%, 1/30/25 | $ | 167 | $ 166,451 |
| 0.00%, 2/20/25(28) | 164 | 163,071 | |
| 0.00%, 3/6/25 | 169 | 167,764 | |
| 0.00%, 4/1/25(28) | 1,517 | 1,501,412 | |
| Total U.S. Treasury Obligations (identified cost $1,997,844) | $ 1,998,698 | ||
| Total Short-Term Investments (identified cost $30,758,481) | $ 30,759,335 | ||
| Total Investments — 166.7% (identified cost $2,106,807,949) | $ 2,024,491,406 | ||
| Less Unfunded Loan Commitments — (0.1)% | $ (866,183) | ||
| Net Investments — 166.6% (identified cost $2,105,941,766) | $ 2,023,625,223 | ||
| 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: | |||
| 6.50%, 30-Year, TBA(26) | $ | (15,000) | $ (15,251,953) |
| 7.00%, 30-Year, TBA(26) | (6,806) | (6,974,555) | |
| Total U.S. Government Agency Mortgage-Backed Securities (proceeds $22,292,742) | $ (22,226,508) | ||
| Total TBA Sale Commitments (proceeds $22,292,742) | $ (22,226,508) | ||
| Other Assets, Less Liabilities — (82.6)% | $(1,003,286,589) | ||
| Auction Preferred Shares Plus Cumulative Unpaid Dividends — 17.8% | $ 216,173,442 | ||
| Net Assets Applicable to Common Shares — 100.0% | $ 1,214,285,568 | ||
| The percentage shown for each investment category in the Portfolio of Investments is based on net assets applicable to common shares. | |
| * | 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, 2024, the aggregate value of these securities is $716,596,357 or 59.0% 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, 2024. |
| (3) | Step coupon security. Interest rate represents the rate in effect at December 31, 2024. |
| (4) | Weighted average fixed-rate coupon that changes/updates monthly. Rate shown is the rate at December 31, 2024. |
| (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, 2024. |
| (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) | Represents an investment in an issuer that may be deemed to be an affiliate. |
| (9) | For fair value measurement disclosure purposes, security is categorized as Level 3. |
| (10) | Non-income producing security. |
| (11) | Security was acquired in connection with a restructuring of a Senior Loan and may be subject to restrictions on resale. |
| (12) | Amount is less than 0.05%. |
| (13) | 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, 2024, the aggregate value of these securities is $75,307,378 or 6.2% of the Fund's net assets applicable to common shares. |
| (14) | Security converts to variable rate after the indicated fixed-rate coupon period. |
| (15) | Represents a payment-in-kind security which may pay interest in additional principal at the issuer’s discretion. |
| (16) | Perpetual security with no stated maturity date but may be subject to calls by the issuer. |
| (17) | 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. |
| (18) | 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. |
| (19) | This Senior Loan will settle after December 31, 2024, at which time the interest rate will be determined. |
| (20) | Unfunded or partially unfunded loan commitments. The stated interest rate reflects the weighted average of the reference rate and spread for the funded portion, if any, and the commitment fees on the portion of the loan that is unfunded. At December 31, 2024 the total value of unfunded loan commitments is $869,538. |
| (21) | The stated interest rate represents the weighted average interest rate at December 31, 2024 of contracts within the senior loan facility. Interest rates on contracts are primarily redetermined either monthly or quarterly by reference to the indicated base lending rate and spread and the reset period. |
| (22) | Fixed-rate loan. |
| (23) | Amounts payable in respect of the security are contingent upon and determined by reference to Ukraine’s GDP and Real GDP Growth Rate. Principal amount represents the notional amount used to calculate payments due to the security holder and does not represent an entitlement for payment. |
| (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, 2024. |
| (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, 2024. |
| (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 | 123,375 | USD | 129,753 | 3/19/25 | $ (1,530) |
| EUR | 2,058,996 | USD | 2,165,444 | 3/19/25 | (25,536) |
| USD | 2,469,389 | EUR | 2,348,000 | 3/19/25 | 29,120 |
| USD | 2,359,792 | EUR | 2,243,791 | 3/19/25 | 27,828 |
| USD | 1,128,779 | EUR | 1,073,291 | 3/19/25 | 13,311 |
| USD | 1,107,720 | EUR | 1,053,268 | 3/19/25 | 13,063 |
| USD | 1,019,897 | EUR | 969,762 | 3/19/25 | 12,027 |
| USD | 694,121 | EUR | 660,000 | 3/19/25 | 8,185 |
| USD | 491,551 | EUR | 467,387 | 3/19/25 | 5,797 |
| USD | 491,027 | EUR | 466,889 | 3/19/25 | 5,790 |
| USD | 336,527 | EUR | 319,984 | 3/19/25 | 3,969 |
| USD | 262,664 | EUR | 249,752 | 3/19/25 | 3,098 |
| USD | 94,417 | EUR | 89,776 | 3/19/25 | 1,113 |
| USD | 5,509 | EUR | 5,238 | 3/19/25 | 65 |
| $96,300 | |||||
| Forward Foreign Currency Exchange Contracts (OTC) | |||||||
| Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation | Unrealized (Depreciation) | ||
| USD | 44,591,321 | EUR | 42,161,465 | Standard Chartered Bank | 1/3/25 | $ 918,379 | $ — |
| EUR | 176,162 | USD | 184,986 | State Street Bank and Trust Company | 1/10/25 | — | (2,457) |
| EUR | 10,111 | USD | 10,718 | Bank of America, N.A. | 1/31/25 | — | (233) |
| EUR | 297,429 | USD | 311,965 | Citibank, N.A. | 1/31/25 | — | (3,531) |
| EUR | 253,939 | USD | 270,477 | Goldman Sachs International | 1/31/25 | — | (7,142) |
| EUR | 92,918 | USD | 98,559 | HSBC Bank USA, N.A. | 1/31/25 | — | (2,203) |
| EUR | 495,057 | USD | 539,996 | Standard Chartered Bank | 1/31/25 | — | (26,622) |
| GBP | 205,626 | USD | 257,540 | State Street Bank and Trust Company | 1/31/25 | — | (178) |
| GBP | 283,736 | USD | 355,370 | State Street Bank and Trust Company | 1/31/25 | — | (246) |
| GBP | 301,300 | USD | 382,067 | State Street Bank and Trust Company | 1/31/25 | — | (4,959) |
| USD | 413,311 | EUR | 390,000 | Goldman Sachs International | 1/31/25 | 8,881 | — |
| USD | 356,104 | EUR | 342,444 | Goldman Sachs International | 1/31/25 | 990 | — |
| USD | 38,457,913 | EUR | 35,420,245 | HSBC Bank USA, N.A. | 1/31/25 | 1,727,115 | — |
| USD | 53,369 | EUR | 50,705 | HSBC Bank USA, N.A. | 1/31/25 | 788 | — |
| USD | 496,020 | EUR | 456,747 | State Street Bank and Trust Company | 1/31/25 | 22,373 | — |
| USD | 455,252 | EUR | 419,300 | State Street Bank and Trust Company | 1/31/25 | 20,438 | — |
| USD | 805,005 | EUR | 762,222 | The Toronto-Dominion Bank | 1/31/25 | 14,580 | — |
| USD | 331,471 | GBP | 260,000 | Citibank, N.A. | 1/31/25 | 6,055 | — |
| USD | 178,975 | GBP | 140,490 | Goldman Sachs International | 1/31/25 | 3,137 | — |
| USD | 289,446 | GBP | 223,510 | Standard Chartered Bank | 1/31/25 | 9,700 | — |
| USD | 149,911 | GBP | 118,433 | Standard Chartered Bank | 1/31/25 | 1,679 | — |
| USD | 6,065,613 | GBP | 4,664,525 | State Street Bank and Trust Company | 1/31/25 | 227,485 | — |
| USD | 364,145 | GBP | 280,031 | State Street Bank and Trust Company | 1/31/25 | 13,657 | — |
| USD | 152,067 | GBP | 120,000 | State Street Bank and Trust Company | 1/31/25 | 1,875 | — |
| USD | 67,324 | GBP | 52,858 | State Street Bank and Trust Company | 1/31/25 | 1,167 | — |
| USD | 7,191 | GBP | 5,711 | State Street Bank and Trust Company | 1/31/25 | 43 | — |
| USD | 43,713,159 | EUR | 42,161,465 | Standard Chartered Bank | 2/4/25 | — | (15,450) |
| EUR | 1,390,000 | USD | 1,463,748 | HSBC Bank USA, N.A. | 2/28/25 | — | (20,501) |
| EUR | 1,387,702 | USD | 1,461,492 | HSBC Bank USA, N.A. | 2/28/25 | — | (20,631) |
| USD | 6,989,394 | EUR | 6,598,425 | Australia and New Zealand Banking Group Limited | 2/28/25 | 138,201 | — |
| USD | 6,847,357 | EUR | 6,467,000 | Australia and New Zealand Banking Group Limited | 2/28/25 | 132,623 | — |
| USD | 6,844,809 | EUR | 6,467,000 | HSBC Bank USA, N.A. | 2/28/25 | 130,075 | — |
| USD | 6,856,677 | EUR | 6,467,000 | Standard Chartered Bank | 2/28/25 | 141,943 | — |
| USD | 6,849,388 | EUR | 6,467,000 | Standard Chartered Bank | 2/28/25 | 134,655 | — |
| USD | 2,558,744 | GBP | 2,024,684 | HSBC Bank USA, N.A. | 2/28/25 | 25,137 | — |
| USD | 13,479,999 | EUR | 12,872,765 | Goldman Sachs International | 3/31/25 | 93,191 | — |
| USD | 13,323,913 | EUR | 12,723,200 | State Street Bank and Trust Company | 3/31/25 | 92,643 | — |
| USD | 8,885,681 | EUR | 8,482,100 | State Street Bank and Trust Company | 3/31/25 | 64,869 | — |
| $3,931,679 | $(104,153) | ||||||
| Futures Contracts | |||||
| Description | Number of Contracts | Position | Expiration Date | Notional Amount | Value/Unrealized Appreciation (Depreciation) |
| Interest Rate Futures | |||||
| U.S. 2-Year Treasury Note | 1,271 | Long | 3/31/25 | $261,329,517 | $ (69,559) |
| U.S. 5-Year Treasury Note | 2,238 | Long | 3/31/25 | 237,909,892 | (1,697,861) |
| U.S. 10-Year Treasury Note | 390 | Long | 3/20/25 | 42,412,500 | (634,214) |
| U.S. Ultra 10-Year Treasury Note | 13 | Long | 3/20/25 | 1,447,063 | (33,892) |
| Euro-Bobl | (14) | Short | 3/6/25 | (1,709,193) | 21,753 |
| Euro-Bund | (6) | Short | 3/6/25 | (829,343) | 21,193 |
| Euro-Buxl | (6) | Short | 3/6/25 | (824,619) | 51,461 |
| Euro-Schatz | (7) | Short | 3/6/25 | (775,743) | 3,263 |
| U.S. 2-Year Treasury Note | (2) | Short | 3/31/25 | (411,219) | 173 |
| U.S. 5-Year Treasury Note | (74) | Short | 3/31/25 | (7,866,547) | 68,224 |
| U.S. 10-Year Treasury Note | (64) | Short | 3/20/25 | (6,960,000) | 127,217 |
| U.S. Long Treasury Bond | (455) | Short | 3/20/25 | (51,798,906) | 1,789,564 |
| U.S. Ultra-Long Treasury Bond | (358) | Short | 3/20/25 | (42,568,438) | 1,527,248 |
| $1,174,570 | |||||
| Credit Default Swaps - Sell Protection (Centrally Cleared) | |||||||
| Reference Entity | Notional Amount* (000's omitted) | Contract Annual Fixed Rate** | Current Market Annual Fixed Rate*** | Termination Date | Value | Unamortized Upfront Receipts (Payments) | Unrealized Appreciation (Depreciation) |
| Egypt | $158 | 1.00% (pays quarterly)(1) | 5.43% | 12/20/28 | $(22,953) | $38,122 | $15,169 |
| Total | $158 | $(22,953) | $38,122 | $15,169 | |||
| Credit Default Swaps - Sell Protection (OTC) | ||||||||
| Reference Entity | Counterparty | Notional Amount* (000's omitted) | Contract Annual Fixed Rate** | Current Market Annual Fixed Rate*** | Termination Date | Value | Unamortized Upfront Receipts (Payments) | Unrealized Appreciation (Depreciation) |
| Ivory Coast | Deutsche Bank AG | $ 271 | 1.00% (pays quarterly)(1) | 2.64% | 6/20/27 | $ (10,097) | $ 17,340 | $ 7,243 |
| Ivory Coast | Deutsche Bank AG | 312 | 1.00% (pays quarterly)(1) | 2.64 | 6/20/27 | (11,627) | 19,991 | 8,364 |
| Mexico | Citibank, N.A. | 2,041 | 1.00% (pays quarterly)(1) | 1.78 | 12/20/31 | (90,780) | 63,551 | (27,229) |
| U.S. Single Family Rental | Goldman Sachs International | 2,102 | 7.85% (pays annually)(1) | 8.31 | 3/18/28 | (1,206) | 5,367 | 4,161 |
| Total | $4,726 | $(113,710) | $106,249 | $(7,461) | ||||
| * | 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, 2024, such maximum potential amount for all open credit default swaps in which the Fund is the seller was $4,884,000. |
| ** | 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. |
| *** | 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. |
| (1) | 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 |
| EURIBOR | – Euro Interbank Offered Rate |
| GDP | – Gross Domestic Product |
| 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 |
| 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, 4.274%, 6/15/47 | $ 342,235 | $ — | $ (289,793) | $ — | $(7,136) | $ 70,230 | $ 30,967 | $ 73,207 |
| Series 2015-C23, Class D, 4.137%, 7/15/50 | 2,332,746 | — | — | — | 196,538 | 2,540,039 | 95,137 | 2,670,000 |
| Series 2016-C29, Class D, 3.00%, 5/15/49 | 2,924,627 | — | — | — | (44,325) | 2,896,030 | 96,219 | 3,577,365 |
| Series 2016-C32, Class D, 3.396%, 12/15/49 | 1,040,095 | — | — | — | 122,177 | 1,173,388 | 51,868 | 1,600,000 |
| Morgan Stanley Capital I Trust: | ||||||||
| Series 2016-UBS12, Class D, 3.312%, 12/15/49 | 2,306,494 | — | — | — | 44,757 | 2,377,214 | 121,486 | 4,488,667 |
| Series 2019-BPR, Class C, 8.968%, (1 mo. SOFR + 3.642%), 5/15/36 | 1,798,105 | — | (1,845,000) | — | 46,895 | — | 20,227 | — |
| Short-Term Investments | ||||||||
| Liquidity Fund, Institutional Class(1) | 21,711,062 | 719,440,270 | (712,390,695) | — | — | 28,760,637 | 1,234,085 | 28,760,637 |
| Total | $ — | $358,906 | $37,817,538 | $1,649,989 | ||||
| (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 | $ — | $ 160,618,217 | $ — | $ 160,618,217 |
| Closed-End Funds | 21,469,960 | — | — | 21,469,960 |
| Collateralized Mortgage Obligations | — | 342,063,100 | — | 342,063,100 |
| Commercial Mortgage-Backed Securities | — | 59,890,596 | — | 59,890,596 |
| Common Stocks | 175,197 | 9,890,239 | 1,128,544 | 11,193,980 |
| Asset Description (continued) | Level 1 | Level 2 | Level 3* | Total |
| Convertible Bonds | $ — | $ 2,729,235 | $ — | $ 2,729,235 |
| Corporate Bonds | — | 561,308,662 | 0 | 561,308,662 |
| Preferred Stocks | — | 443,940 | — | 443,940 |
| Senior Floating-Rate Loans (Less Unfunded Loan Commitments) | — | 544,858,272 | 1,365,575 | 546,223,847 |
| Sovereign Government Bonds | — | 51,371,727 | — | 51,371,727 |
| Sovereign Loans | — | 3,759,902 | — | 3,759,902 |
| U.S. Government Agency Mortgage-Backed Securities | — | 231,722,635 | — | 231,722,635 |
| Warrants | 17 | — | — | 17 |
| Miscellaneous | — | 70,070 | 0 | 70,070 |
| Short-Term Investments: | ||||
| Affiliated Fund | 28,760,637 | — | — | 28,760,637 |
| U.S. Treasury Obligations | — | 1,998,698 | — | 1,998,698 |
| Total Investments | $50,405,811 | $1,970,725,293 | $2,494,119 | $2,023,625,223 |
| Forward Foreign Currency Exchange Contracts | $ — | $ 4,055,045 | $ — | $ 4,055,045 |
| Futures Contracts | 3,610,096 | — | — | 3,610,096 |
| Total | $54,015,907 | $1,974,780,338 | $2,494,119 | $2,031,290,364 |
| Liability Description | ||||
| TBA Sale Commitments | $ — | $ (22,226,508) | $ — | $ (22,226,508) |
| Forward Foreign Currency Exchange Contracts | — | (131,219) | — | (131,219) |
| Futures Contracts | (2,435,526) | — | — | (2,435,526) |
| Swap Contracts | — | (136,663) | — | (136,663) |
| Total | $(2,435,526) | $ (22,494,390) | $ — | $ (24,929,916) |
| * | None of the unobservable inputs for Level 3 assets, individually or collectively, had a material impact on the Fund. |