|
2025 Quarterly Report
(Unaudited)
|
|
BlackRock Credit Strategies Fund
|
|
Not FDIC Insured • May Lose Value • No Bank Guarantee
|
|
Security
|
|
Par
(000)
|
Value
|
|
Asset-Backed Securities
|
|||
|
720 East CLO Ltd., Series 2022-1A, Class CR, (3-mo.
CME Term SOFR + 1.90%), 6.23%, 01/20/38(a)(b)
|
USD
|
1,000
|
$ 1,002,845
|
|
AGL CLO Ltd., Series 2021-12A, Class B, (3-mo. CME
Term SOFR + 1.86%), 6.19%, 07/20/34(a)(b)
|
|
1,000
|
1,001,780
|
|
AIMCO CLO Ltd., Series 2020-11A, Class CR2, (3-mo.
CME Term SOFR + 1.90%), 6.18%, 07/17/37(a)(b)
|
|
1,000
|
1,002,822
|
|
Anchorage Capital CLO Ltd., Series 2019-11A,
Class C1R2, (3-mo. CME Term SOFR + 2.40%),
6.73%, 07/22/37(a)(b)
|
|
1,000
|
1,007,282
|
|
Ballyrock CLO Ltd.(a)(b)
|
|
|
|
|
Series 2019-2A, Class BRR, (3-mo. CME Term SOFR
+ 2.40%), 6.60%, 02/20/36
|
|
1,000
|
1,001,482
|
|
Series 2024-22A, Class B, (3-mo. CME Term SOFR +
2.35%), 6.67%, 04/15/37
|
|
1,500
|
1,510,462
|
|
Battalion CLO X Ltd., Series 2016-10A, Class BR2, (3-
mo. CME Term SOFR + 2.31%), 6.63%, 01/25/35(a)(b)
|
|
1,000
|
1,001,506
|
|
Birch Grove CLO Ltd., Series 2024-9A, Class A1, (3-mo.
CME Term SOFR + 1.40%), 5.73%, 10/22/37(a)(b)
|
|
1,000
|
1,003,594
|
|
Bryant Park Funding Ltd., Series 2024-22A, Class C,
(3-mo. CME Term SOFR + 2.60%), 6.92%,
04/15/37(a)(b)
|
|
1,500
|
1,510,835
|
|
CarVal CLO IV Ltd., Series 2021-1A, Class D, (3-mo.
CME Term SOFR + 3.51%), 7.84%, 07/20/34(a)(b)
|
|
1,000
|
1,003,283
|
|
CarVal CLO VC Ltd., Series 2021-2A, Class C, (3-mo.
CME Term SOFR + 2.46%), 6.78%, 10/15/34(a)(b)
|
|
1,000
|
1,001,512
|
|
Cook Park CLO Ltd., Series 2018-1A, Class C, (3-mo.
CME Term SOFR + 2.01%), 6.29%, 04/17/30(a)(b)
|
|
250
|
250,476
|
|
Elmwood CLO 21 Ltd., Series 2022-8A, Class AR, (3-mo.
CME Term SOFR + 1.65%), 5.98%, 10/20/36(a)(b)
|
|
700
|
701,006
|
|
Elmwood CLO 26 Ltd., Series 2026-1A, Class C, (3-mo.
CME Term SOFR + 2.40%), 6.67%, 04/18/37(a)(b)
|
|
1,000
|
1,007,300
|
|
Elmwood CLO 37 Ltd., Series 2024-13A, Class D1, (3-
mo. CME Term SOFR + 2.60%), 6.89%, 01/17/38(a)(b)
|
|
1,000
|
1,004,513
|
|
Galaxy XXIV CLO Ltd., Series 2024-R, Class CR, (3-mo.
CME Term SOFR + 2.45%), 6.77%, 04/15/37(a)(b)
|
|
1,106
|
1,113,841
|
|
Generate CLO Ltd., Series 7A, Class A1R, (3-mo. CME
Term SOFR + 1.62%), 5.95%, 04/22/37(a)(b)
|
|
1,000
|
1,003,367
|
|
Greywolf CLO V Ltd., Series 2015-1A, Class CR, (3-mo.
CME Term SOFR + 3.26%), 7.58%, 01/27/31(a)(b)
|
|
500
|
502,642
|
|
HalseyPoint CLO Ltd., Series 2021-4A, Class C, (3-mo.
CME Term SOFR + 2.41%), 6.74%, 04/20/34(a)(b)
|
|
750
|
751,140
|
|
New Mountain CLO Ltd., Series CLO-3A, Class A1R,
(3-mo. CME Term SOFR + 1.33%), 5.61%,
10/20/38(a)(b)
|
|
1,000
|
1,003,750
|
|
NYACK Park CLO Ltd., Series 2021-1A, Class C, (3-mo.
CME Term SOFR + 2.21%), 6.54%, 10/20/34(a)(b)
|
|
1,250
|
1,250,000
|
|
Oaktree CLO Ltd., Series 2024-27A, Class B, (3-mo.
CME Term SOFR + 1.65%), 5.98%, 10/22/37(a)(b)
|
|
1,500
|
1,502,805
|
|
OCP CLO Ltd., Series 2019-17A, Class CR2, (3-mo.
CME Term SOFR + 2.00%), 6.33%, 07/20/37(a)(b)
|
|
1,000
|
1,004,353
|
|
OHA Credit Funding Ltd., Series 2019-2A, Class D1R2,
(3-mo. CME Term SOFR + 2.70%), 7.03%,
01/21/38(a)(b)
|
|
1,000
|
1,008,750
|
|
OHA Credit Partners XV Ltd., Series 2017-15R,
Class D1R, (3-mo. CME Term SOFR + 3.45%),
7.78%, 04/20/37(a)(b)
|
|
1,500
|
1,522,373
|
|
OHA Loan Funding Ltd., Series 2013-1A, Class D1R3,
(3-mo. CME Term SOFR + 3.30%), 7.62%,
04/23/37(a)(b)
|
|
750
|
757,368
|
|
Security
|
|
Par
(000)
|
Value
|
|
Asset-Backed Securities (continued)
|
|||
|
Palmer Square CLO Ltd., Series 2021-4A, Class CR,
(3-mo. CME Term SOFR + 1.85%), 6.12%,
07/15/38(a)(b)
|
USD
|
1,000
|
$ 1,002,715
|
|
Post CLO Ltd., Series 2022-1A, Class D, (3-mo. CME
Term SOFR + 3.20%), 7.53%, 04/20/35(a)(b)
|
|
1,000
|
1,000,992
|
|
Regatta XII Funding Ltd., Series 2019-1A, Class ARR,
(3-mo. CME Term SOFR + 1.39%), 5.71%,
10/15/37(a)(b)
|
|
1,000
|
1,003,151
|
|
Silver Point CLO Ltd., Series 2024-5A, Class C, (3-mo.
CME Term SOFR + 2.10%), 6.43%, 10/20/37(a)(b)
|
|
1,250
|
1,256,462
|
|
Sixth Street CLO XIX Ltd., Series 2021-19A, Class D1R,
(3-mo. CME Term SOFR + 2.80%), 7.08%,
07/17/38(a)(b)
|
|
1,000
|
1,005,051
|
|
Sycamore Tree CLO Ltd., Series 2024-5A, Class B, (3-
mo. CME Term SOFR + 2.25%), 6.58%, 04/20/36(a)(b)
|
|
1,000
|
1,002,780
|
|
Unique Pub Finance Co. PLC, Series 02, Class N,
6.46%, 03/30/32(c)
|
GBP
|
103
|
145,139
|
|
Whitebox CLO I Ltd., Series 2019-1A, Class BRR, (3-mo.
CME Term SOFR + 1.75%), 6.07%, 07/24/36(a)(b)
|
USD
|
2,000
|
2,005,360
|
|
Whitebox CLO II Ltd., Series 2020-2A, Class CR2, (3-
mo. CME Term SOFR + 1.95%), 6.27%, 10/24/37(a)(b)
|
|
640
|
642,364
|
|
Total Asset-Backed Securities — 6.0%
(Cost: $35,293,430)
|
35,495,101
|
||
|
|
|
Shares
|
|
|
Common Stocks
|
|||
|
Beverages — 0.0%
|
|
||
|
Juice Plus & Co. LLC(d)
|
|
5,780
|
—
|
|
Biotechnology — 0.2%
|
|
||
|
Anika Therapeutics, Inc.(d)
|
|
110,000
|
1,034,000
|
|
Broadline Retail — 0.0%
|
|
||
|
Thrasio LLC, (Acquired 06/18/24, Cost:
$1,907,522)(d)(e)(f)
|
|
20,031
|
—
|
|
Construction & Engineering — 0.0%
|
|
||
|
Mcdermott International Ltd.(d)
|
|
17
|
338
|
|
Construction Materials — 0.0%
|
|
||
|
Kellermeyer Bergensons Services LLC, Preference
Shares(d)(e)
|
|
45,118
|
1
|
|
Consumer Discretionary — 0.0%
|
|
||
|
Virgil Holdings, Inc.(d)(e)
|
|
79,434
|
1
|
|
Diversified Consumer Services — 0.0%
|
|
||
|
Pluralsight LLC, (Acquired 08/22/24, Cost:
$77,568)(d)(e)(f)
|
|
208,956
|
2
|
|
Entertainment — 0.0%
|
|
||
|
Learfield Communications LLC, (Acquired 09/06/23,
Cost: $2,060)(d)(e)(f)
|
|
164
|
17,220
|
|
Financial Services(d)(e) — 0.0%
|
|
||
|
Aimbridge Acquisition Co., Inc.
|
|
640
|
41,299
|
|
Creditex LLC
|
|
5,923
|
—
|
|
|
|
|
41,299
|
|
Ground Transportation — 0.0%
|
|
||
|
Sirva BGRS Holdings, Inc.(d)
|
|
34
|
29
|
|
Security
|
|
Shares
|
Value
|
|
Health Care Providers & Services — 0.0%
|
|
||
|
Quorum Restructuring Equity(d)
|
|
43,661
|
$ 32,746
|
|
Health Care Technology — 0.3%
|
|
||
|
Veradigm, Inc.(d)
|
|
425,000
|
2,040,000
|
|
Household Durables — 0.7%
|
|
||
|
Homerenew Buyer, Inc., Series A-1(d)(e)
|
|
1,568
|
238,472
|
|
Homerenew Buyer, Inc., Series B-1(d)(e)
|
|
2,520
|
—
|
|
Homerenew Buyer, Inc., Series C-1(d)(e)
|
|
3,942
|
—
|
|
Lennar Corp., Class A
|
|
16,000
|
2,016,640
|
|
Taylor Morrison Home Corp., Class A(d)
|
|
30,000
|
1,980,300
|
|
|
|
|
4,235,412
|
|
Industrial Conglomerates — 0.0%
|
|
||
|
SVP Singer(d)
|
|
1,930
|
8,444
|
|
IT Services — 0.0%
|
|
||
|
Travelport LLC(d)(e)
|
|
10
|
30,182
|
|
Real Estate Management & Development — 0.0%
|
|
||
|
ADLER Group SA(d)(e)
|
|
16,485
|
—
|
|
Retail REITs — 0.3%
|
|
||
|
Pennsylvania REIT(d)
|
|
70,000
|
1,697,500
|
|
Specialty Retail — 0.0%
|
|
||
|
Razor Group & Infinite Commerce(d)(e)
|
|
23,794
|
—
|
|
Trading Companies & Distributors — 0.0%
|
|
||
|
TMK Hawk Midco Corp.(d)(e)
|
|
543
|
5,973
|
|
Total Common Stocks — 1.5%
(Cost: $11,581,178)
|
9,143,147
|
||
|
|
|
Par
(000)
|
|
|
Corporate Bonds
|
|||
|
Advertising Agencies — 0.1%
|
|||
|
Clear Channel Outdoor Holdings, Inc.(b)
|
|
|
|
|
7.75%, 04/15/28
|
USD
|
12
|
11,978
|
|
7.50%, 06/01/29
|
|
66
|
64,100
|
|
7.88%, 04/01/30
|
|
74
|
77,702
|
|
7.13%, 02/15/31
|
|
65
|
67,188
|
|
7.50%, 03/15/33
|
|
98
|
102,466
|
|
CMG Media Corp., 8.88%, 06/18/29(b)
|
|
28
|
25,716
|
|
Neptune Bidco U.S., Inc., 9.29%, 04/15/29(b)
|
|
73
|
71,663
|
|
Outfront Media Capital LLC/Outfront Media Capital
Corp.(b)
|
|
|
|
|
5.00%, 08/15/27
|
|
4
|
3,980
|
|
4.63%, 03/15/30
|
|
79
|
75,926
|
|
Summer BC Holdco B SARL, 5.88%, 02/15/30(c)
|
EUR
|
100
|
114,671
|
|
|
|
|
615,390
|
|
Aerospace & Defense — 0.2%
|
|||
|
Bombardier, Inc.(b)
|
|
|
|
|
6.00%, 02/15/28
|
USD
|
182
|
182,460
|
|
8.75%, 11/15/30
|
|
33
|
35,587
|
|
7.00%, 06/01/32
|
|
19
|
19,858
|
|
6.75%, 06/15/33
|
|
26
|
27,133
|
|
Czechoslovak Group A/S, 5.25%, 01/10/31(c)
|
EUR
|
150
|
183,152
|
|
Goat Holdco LLC, 6.75%, 02/01/32(b)
|
USD
|
23
|
23,575
|
|
Spirit AeroSystems, Inc.(b)
|
|
|
|
|
9.38%, 11/30/29
|
|
85
|
89,524
|
|
9.75%, 11/15/30
|
|
39
|
42,892
|
|
Security
|
|
Par
(000)
|
Value
|
|
Aerospace & Defense (continued)
|
|||
|
TransDigm, Inc.(b)
|
|
|
|
|
6.38%, 05/31/33
|
USD
|
103
|
$ 104,158
|
|
6.25%, 01/31/34
|
|
15
|
15,426
|
|
6.75%, 01/31/34
|
|
141
|
145,788
|
|
|
|
|
869,553
|
|
Air Freight & Logistics(b) — 0.0%
|
|||
|
Rand Parent LLC, 8.50%, 02/15/30
|
|
15
|
15,586
|
|
Stonepeak Nile Parent LLC, 7.25%, 03/15/32
|
|
7
|
7,371
|
|
|
|
|
22,957
|
|
Automobile Components — 0.3%
|
|||
|
American Axle & Manufacturing, Inc.(b)(g)
|
|
|
|
|
10/15/32
|
|
10
|
9,983
|
|
10/15/33
|
|
10
|
10,078
|
|
Clarios Global LP/Clarios U.S. Finance Co.
|
|
|
|
|
6.75%, 02/15/30(b)
|
|
40
|
41,320
|
|
4.75%, 06/15/31(c)
|
EUR
|
140
|
167,464
|
|
6.75%, 09/15/32(b)
|
USD
|
52
|
53,152
|
|
Dana, Inc.
|
|
|
|
|
4.25%, 09/01/30
|
|
6
|
5,942
|
|
4.50%, 02/15/32
|
|
8
|
7,877
|
|
Forvia SE, 5.50%, 06/15/31(c)
|
EUR
|
200
|
241,421
|
|
Garrett Motion Holdings, Inc./Garrett LX I SARL, 7.75%,
05/31/32(b)
|
USD
|
10
|
10,490
|
|
Gestamp Automocion SA, 10/15/30(c)(g)
|
EUR
|
100
|
117,869
|
|
Goodyear Tire & Rubber Co.
|
|
|
|
|
6.63%, 07/15/30
|
USD
|
13
|
13,191
|
|
5.25%, 04/30/31
|
|
3
|
2,835
|
|
IHO Verwaltungs GmbH, (8.75% Cash or 9.50% PIK),
8.75%, 05/15/28(c)(h)
|
EUR
|
320
|
393,487
|
|
Mahle GmbH, 6.50%, 05/02/31(c)
|
|
157
|
190,806
|
|
Qnity Electronics, Inc., 6.25%, 08/15/33(b)
|
USD
|
17
|
17,360
|
|
Schaeffler AG(c)
|
|
|
|
|
4.25%, 04/01/28
|
EUR
|
100
|
119,329
|
|
5.38%, 04/01/31
|
|
100
|
122,936
|
|
Tenneco, Inc., 8.00%, 11/17/28(b)
|
USD
|
39
|
39,071
|
|
ZF Europe Finance BV(c)
|
|
|
|
|
2.50%, 10/23/27
|
EUR
|
300
|
341,135
|
|
7.00%, 06/12/30
|
|
100
|
121,870
|
|
|
|
|
2,027,616
|
|
Automobiles — 0.2%
|
|||
|
Aston Martin Capital Holdings Ltd., 10.38%, 03/31/29(c)
|
GBP
|
226
|
295,540
|
|
Carvana Co.(b)(h)
|
|
|
|
|
(9.00% PIK), 9.00%, 06/01/30
|
USD
|
40
|
42,230
|
|
(9.00% PIK), 9.00%, 06/01/31
|
|
85
|
96,371
|
|
Cougar JV Subsidiary LLC, 8.00%, 05/15/32(b)
|
|
14
|
14,885
|
|
LCM Investments Holdings II LLC, 4.88%, 05/01/29(b)
|
|
51
|
49,967
|
|
Nissan Motor Acceptance Co. LLC, 6.13%, 09/30/30(b)
|
|
34
|
34,012
|
|
Nissan Motor Co. Ltd.(c)
|
|
|
|
|
5.25%, 07/17/29
|
EUR
|
136
|
162,725
|
|
6.38%, 07/17/33
|
|
100
|
120,875
|
|
RCI Banque SA(a)(c)
|
|
|
|
|
(5-year EURIBOR ICE Swap + 2.20%), 4.75%,
03/24/37
|
|
100
|
119,454
|
|
(5-year EURIBOR ICE Swap + 2.75%), 5.50%,
10/09/34
|
|
200
|
246,993
|
|
Rivian Holdings LLC/Rivian LLC/Rivian Automotive LLC,
10.00%, 01/15/31(b)
|
USD
|
14
|
13,032
|
|
|
|
|
1,196,084
|
|
Security
|
|
Par
(000)
|
Value
|
|
Banks — 0.4%
|
|||
|
Abanca Corp. Bancaria SA, (5-year EURIBOR ICE Swap
+ 2.45%), 4.63%, 12/11/36(a)(c)
|
EUR
|
100
|
$ 120,900
|
|
ANB Tier 1 Sukuk Co. Ltd., (5-year CMT + 2.60%),
6.40%(a)(c)(i)
|
USD
|
200
|
200,938
|
|
Banca Monte dei Paschi di Siena SpA, (5-year EURIBOR
ICE Swap + 2.15%), 4.38%, 10/02/35(a)(c)
|
EUR
|
200
|
239,459
|
|
Banco Bilbao Vizcaya Argentaria SA, (5-year EUR Swap
+ 4.27%), 6.88%(a)(c)(i)
|
|
200
|
253,496
|
|
Bangkok Bank PCL/Hong Kong, (5-year CMT + 1.90%),
3.73%, 09/25/34(a)(c)
|
USD
|
200
|
189,573
|
|
Bank of East Asia Ltd., (5-year CMT + 2.30%), 4.88%,
04/22/32(a)(c)
|
|
250
|
249,180
|
|
Chiyu Banking Corp. Ltd., (5-year CMT + 3.20%), 5.75%,
04/07/32(a)(c)
|
|
250
|
248,733
|
|
Eurobank Ergasias Services and Holdings SA, (5-year
EURIBOR ICE Swap + 2.00%), 4.25%, 04/30/35(a)(c)
|
EUR
|
100
|
118,185
|
|
Kasikornbank PCL/Hong Kong, (5-year CMT + 1.70%),
3.34%, 10/02/31(a)(c)
|
USD
|
200
|
196,342
|
|
National Bank of Greece SA, (5-year EURIBOR ICE
Swap + 3.15%), 5.88%, 06/28/35(a)(c)
|
EUR
|
150
|
189,452
|
|
Riyad Sukuk Ltd., (5-year CMT + 2.25%), 6.21%,
07/14/35(a)(c)
|
USD
|
400
|
407,830
|
|
Riyad T1 Sukuk Ltd., (5-year CMT + 1.91%),
5.50%(a)(c)(i)
|
|
200
|
195,992
|
|
Walker & Dunlop, Inc., 6.63%, 04/01/33(b)
|
|
11
|
11,249
|
|
|
|
|
2,621,329
|
|
Beverages — 0.0%
|
|||
|
Juice Plus & Co. LLC, 0.00%, 08/12/27(e)
|
|
34
|
34,340
|
|
Biotechnology — 0.1%
|
|||
|
Biocon Biologics Global PLC, 6.67%, 10/09/29(c)
|
|
400
|
385,796
|
|
Building Materials — 0.2%
|
|||
|
AmeriTex HoldCo Intermediate LLC, 7.63%, 08/15/33(b)
|
|
17
|
17,694
|
|
Builders FirstSource, Inc., 6.75%, 05/15/35(b)
|
|
13
|
13,574
|
|
CP Atlas Buyer, Inc., 9.75%, 07/15/30(b)
|
|
4
|
4,189
|
|
EMRLD Borrower LP/Emerald Co-Issuer, Inc.
|
|
|
|
|
6.38%, 12/15/30(c)
|
EUR
|
103
|
126,337
|
|
6.75%, 07/15/31(b)
|
USD
|
48
|
49,855
|
|
HT Troplast GmbH, 9.38%, 07/15/28(c)
|
EUR
|
200
|
245,228
|
|
Jeld-Wen, Inc.(b)
|
|
|
|
|
4.88%, 12/15/27
|
USD
|
23
|
22,445
|
|
7.00%, 09/01/32
|
|
10
|
8,445
|
|
JH North America Holdings, Inc., 6.13%, 07/31/32(b)
|
|
18
|
18,437
|
|
New Enterprise Stone & Lime Co., Inc.(b)
|
|
|
|
|
5.25%, 07/15/28
|
|
36
|
35,668
|
|
9.75%, 07/15/28
|
|
20
|
20,044
|
|
PCF GmbH, 4.75%, 04/15/29(c)
|
EUR
|
171
|
154,987
|
|
Quikrete Holdings, Inc.(b)
|
|
|
|
|
6.38%, 03/01/32
|
USD
|
89
|
92,190
|
|
6.75%, 03/01/33
|
|
27
|
28,072
|
|
Smyrna Ready Mix Concrete LLC, 8.88%, 11/15/31(b)
|
|
18
|
19,007
|
|
Standard Building Solutions, Inc.(b)
|
|
|
|
|
6.50%, 08/15/32
|
|
17
|
17,442
|
|
6.25%, 08/01/33
|
|
47
|
47,629
|
|
Wilsonart LLC, 11.00%, 08/15/32(b)
|
|
24
|
23,363
|
|
|
|
|
944,606
|
|
Building Products(b) — 0.1%
|
|||
|
Foundation Building Materials, Inc., 6.00%, 03/01/29
|
|
2
|
2,027
|
|
Park River Holdings, Inc., 03/15/31(g)
|
|
10
|
10,127
|
|
Security
|
|
Par
(000)
|
Value
|
|
Building Products (continued)
|
|||
|
QXO Building Products, Inc., 6.75%, 04/30/32
|
USD
|
65
|
$ 67,301
|
|
White Cap Buyer LLC, 6.88%, 10/15/28
|
|
189
|
188,438
|
|
|
|
|
267,893
|
|
Capital Markets — 0.1%
|
|||
|
Apollo Debt Solutions BDC
|
|
|
|
|
6.70%, 07/29/31
|
|
15
|
15,897
|
|
6.55%, 03/15/32(b)
|
|
4
|
4,198
|
|
Blackstone Private Credit Fund, 6.00%, 11/22/34
|
|
38
|
38,914
|
|
Blue Owl Capital Corp., 6.20%, 07/15/30
|
|
35
|
35,991
|
|
Blue Owl Capital Corp. II, 8.45%, 11/15/26
|
|
11
|
11,396
|
|
Blue Owl Technology Finance Corp., 6.75%, 04/04/29
|
|
3
|
3,095
|
|
Focus Financial Partners LLC, 6.75%, 09/15/31(b)
|
|
40
|
40,965
|
|
HA Sustainable Infrastructure Capital, Inc., 6.38%,
07/01/34
|
|
6
|
6,106
|
|
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
|
|
|
|
|
5.25%, 05/15/27
|
|
84
|
82,567
|
|
9.75%, 01/15/29
|
|
14
|
14,129
|
|
4.38%, 02/01/29
|
|
3
|
2,590
|
|
10.00%, 11/15/29(b)
|
|
24
|
24,106
|
|
Osaic Holdings, Inc.(b)
|
|
|
|
|
6.75%, 08/01/32
|
|
10
|
10,328
|
|
8.00%, 08/01/33
|
|
17
|
17,619
|
|
|
|
|
307,901
|
|
Chemicals — 0.6%
|
|||
|
Advancion Sciences, Inc., (9.25% Cash or 10.00% PIK),
9.25%, 11/01/26(b)(h)
|
|
28
|
24,690
|
|
Celanese U.S. Holdings LLC, 6.75%, 04/15/33
|
|
11
|
10,953
|
|
Chemours Co.
|
|
|
|
|
5.38%, 05/15/27
|
|
16
|
15,987
|
|
5.75%, 11/15/28(b)
|
|
15
|
14,631
|
|
8.00%, 01/15/33(b)
|
|
6
|
5,968
|
|
FIS Fabbrica Italiana Sintetici SpA, 5.63%, 08/01/27(c)
|
EUR
|
300
|
354,879
|
|
INEOS Finance PLC(c)
|
|
|
|
|
6.38%, 04/15/29
|
|
202
|
234,860
|
|
7.25%, 03/31/31
|
|
164
|
192,271
|
|
INEOS Quattro Finance 2 PLC, 8.50%, 03/15/29(c)
|
|
104
|
122,066
|
|
Itelyum Regeneration SpA, 5.75%, 04/15/30(c)
|
|
100
|
119,447
|
|
Kronos International, Inc., Series SEP, 9.50%,
03/15/29(c)
|
|
257
|
317,970
|
|
Lune Holdings SARL, 5.63%, 11/15/28(c)
|
|
102
|
36,990
|
|
Mativ Holdings, Inc., 8.00%, 10/01/29(b)
|
USD
|
12
|
11,881
|
|
Methanex U.S. Operations, Inc., 6.25%, 03/15/32(b)
|
|
11
|
11,192
|
|
Olympus Water U.S. Holding Corp.
|
|
|
|
|
9.63%, 11/15/28(c)
|
EUR
|
427
|
525,794
|
|
9.75%, 11/15/28(b)
|
USD
|
200
|
209,900
|
|
5.38%, 10/01/29(c)
|
EUR
|
100
|
111,349
|
|
02/15/33(c)(g)
|
|
106
|
124,746
|
|
SCIL IV LLC/SCIL USA Holdings LLC, 9.50%,
07/15/28(c)
|
|
500
|
616,054
|
|
WR Grace Holdings LLC(b)
|
|
|
|
|
4.88%, 06/15/27
|
USD
|
3
|
2,981
|
|
5.63%, 08/15/29
|
|
150
|
139,425
|
|
7.38%, 03/01/31
|
|
51
|
52,010
|
|
6.63%, 08/15/32
|
|
45
|
44,495
|
|
|
|
|
3,300,539
|
|
Commercial Services & Supplies — 0.7%
|
|||
|
ADT Security Corp., 10/15/33(b)(g)
|
|
34
|
34,000
|
|
Albion Financing 1 SARL/Aggreko Holdings, Inc., 5.38%,
05/21/30(c)
|
EUR
|
113
|
137,625
|
|
Allied Universal Holdco LLC, 7.88%, 02/15/31(b)
|
USD
|
224
|
234,863
|
|
Security
|
|
Par
(000)
|
Value
|
|
Commercial Services & Supplies (continued)
|
|||
|
Allied Universal Holdco LLC/Allied Universal Finance
Corp.(b)
|
|
|
|
|
6.00%, 06/01/29
|
USD
|
200
|
$ 196,611
|
|
6.88%, 06/15/30
|
|
51
|
52,419
|
|
Allied Universal Holdco LLC/Allied Universal Finance
Corp./Atlas Luxco 4 SARL, 4.88%, 06/01/28(c)
|
GBP
|
400
|
525,915
|
|
BCP V Modular Services Finance II PLC(c)
|
|
|
|
|
4.75%, 11/30/28
|
EUR
|
100
|
112,394
|
|
6.13%, 11/30/28
|
GBP
|
100
|
125,558
|
|
6.50%, 07/10/31
|
EUR
|
191
|
209,645
|
|
BCP V Modular Services Finance PLC, 6.75%,
11/30/29(c)
|
|
129
|
113,546
|
|
Boels Topholding BV, 5.75%, 05/15/30(c)
|
|
273
|
332,419
|
|
Deluxe Corp., 8.13%, 09/15/29(b)
|
USD
|
8
|
8,354
|
|
EquipmentShare.com, Inc., 8.00%, 03/15/33(b)
|
|
10
|
10,687
|
|
FTAI Aviation Investors LLC(b)
|
|
|
|
|
5.50%, 05/01/28
|
|
114
|
114,018
|
|
7.00%, 05/01/31
|
|
92
|
96,237
|
|
7.00%, 06/15/32
|
|
48
|
50,233
|
|
5.88%, 04/15/33
|
|
4
|
4,025
|
|
Garda World Security Corp.(b)
|
|
|
|
|
7.75%, 02/15/28
|
|
69
|
70,732
|
|
6.00%, 06/01/29
|
|
4
|
3,966
|
|
8.25%, 08/01/32
|
|
62
|
64,269
|
|
8.38%, 11/15/32
|
|
67
|
69,548
|
|
Herc Holdings, Inc.(b)
|
|
|
|
|
7.00%, 06/15/30
|
|
29
|
30,123
|
|
7.25%, 06/15/33
|
|
41
|
42,800
|
|
Hertz Corp., 12.63%, 07/15/29(b)
|
|
9
|
9,541
|
|
ION Platform Finance SARL(g)
|
|
|
|
|
09/30/30
|
EUR
|
100
|
117,405
|
|
09/30/32
|
|
100
|
117,405
|
|
Kapla Holding SAS(c)
|
|
|
|
|
5.00%, 04/30/31
|
|
200
|
237,265
|
|
(3-mo. EURIBOR + 3.50%), 5.51%, 07/31/30(a)
|
|
100
|
117,866
|
|
Loxam SAS(c)
|
|
|
|
|
4.25%, 02/15/30
|
|
147
|
173,441
|
|
4.25%, 02/15/31
|
|
100
|
117,452
|
|
Pachelbel Bidco SpA(c)
|
|
|
|
|
7.13%, 05/17/31
|
|
100
|
126,495
|
|
(3-mo. EURIBOR + 4.25%), 6.27%, 05/17/31(a)
|
|
100
|
118,281
|
|
RR Donnelley & Sons Co., 9.50%, 08/01/29(b)
|
USD
|
47
|
48,169
|
|
Verisure Holding AB, 7.13%, 02/01/28(c)
|
EUR
|
139
|
168,687
|
|
Veritiv Operating Co., 10.50%, 11/30/30(b)
|
USD
|
12
|
12,879
|
|
Wand NewCo 3, Inc., 7.63%, 01/30/32(b)
|
|
57
|
60,056
|
|
|
|
|
4,064,929
|
|
Communications Equipment — 0.0%
|
|||
|
CommScope LLC, 4.75%, 09/01/29(b)
|
|
52
|
51,666
|
|
Construction & Engineering — 0.1%
|
|||
|
Brand Industrial Services, Inc., 10.38%, 08/01/30(b)
|
|
126
|
125,598
|
|
Heathrow Finance PLC(c)
|
|
|
|
|
3.88%, 03/01/27(j)
|
GBP
|
126
|
165,680
|
|
6.63%, 03/01/31
|
|
100
|
135,134
|
|
IRB Infrastructure Developers Ltd., 7.11%, 03/11/32(c)
|
USD
|
400
|
414,500
|
|
|
|
|
840,912
|
|
Consumer Discretionary — 0.2%
|
|||
|
Amber Finco PLC, 6.63%, 07/15/29(c)
|
EUR
|
265
|
327,008
|
|
APCOA Group GmbH, 6.00%, 04/15/31(c)
|
|
255
|
303,147
|
|
Clarivate Science Holdings Corp.(b)
|
|
|
|
|
3.88%, 07/01/28
|
USD
|
12
|
11,548
|
|
4.88%, 07/01/29
|
|
108
|
102,063
|
|
Security
|
|
Par
(000)
|
Value
|
|
Consumer Discretionary (continued)
|
|||
|
Currenta Group Holdings SARL(c)
|
|
|
|
|
5.50%, 05/15/30
|
EUR
|
100
|
$ 120,317
|
|
(3-mo. EURIBOR + 4.00%), 6.04%, 05/15/32(a)
|
|
100
|
118,337
|
|
Q-Park Holding I BV, 5.13%, 02/15/30(c)
|
|
102
|
123,692
|
|
Raven Acquisition Holdings LLC, 6.88%, 11/15/31(b)
|
USD
|
37
|
38,024
|
|
Williams Scotsman, Inc., 6.63%, 04/15/30(b)
|
|
23
|
23,673
|
|
|
|
|
1,167,809
|
|
Consumer Finance — 0.3%
|
|||
|
Bread Financial Holdings, Inc., (5-year CMT + 4.30%),
8.38%, 06/15/35(a)(b)
|
|
3
|
3,081
|
|
Muthoot Finance Ltd.(c)
|
|
|
|
|
7.13%, 02/14/28
|
|
250
|
257,735
|
|
6.38%, 03/02/30
|
|
825
|
835,560
|
|
Navient Corp.
|
|
|
|
|
9.38%, 07/25/30
|
|
38
|
42,000
|
|
7.88%, 06/15/32
|
|
22
|
23,150
|
|
OneMain Finance Corp.
|
|
|
|
|
6.63%, 05/15/29
|
|
21
|
21,585
|
|
5.38%, 11/15/29
|
|
107
|
105,787
|
|
7.50%, 05/15/31
|
|
8
|
8,363
|
|
7.13%, 11/15/31
|
|
9
|
9,333
|
|
6.75%, 03/15/32
|
|
27
|
27,500
|
|
7.13%, 09/15/32
|
|
17
|
17,562
|
|
6.50%, 03/15/33
|
|
32
|
32,051
|
|
Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc.
|
|
|
|
|
6.75%, 08/15/32(b)
|
|
69
|
71,338
|
|
5.50%, 05/15/33(c)
|
EUR
|
100
|
122,248
|
|
WEX, Inc., 6.50%, 03/15/33(b)
|
USD
|
24
|
24,511
|
|
Worldline SA(c)
|
|
|
|
|
0.00%, 07/30/26(k)(l)
|
EUR
|
12
|
13,769
|
|
0.88%, 06/30/27
|
|
100
|
98,887
|
|
|
|
|
1,714,460
|
|
Consumer Staples Distribution & Retail — 0.3%
|
|||
|
B&M European Value Retail SA, 6.50%, 11/27/31(c)
|
GBP
|
200
|
272,504
|
|
Bellis Acquisition Co. PLC(c)
|
|
|
|
|
8.13%, 05/14/30
|
|
113
|
145,437
|
|
8.00%, 07/01/31
|
EUR
|
300
|
357,454
|
|
Boots Group Finco LP, 5.38%, 08/31/32(c)
|
|
100
|
120,781
|
|
KeHE Distributors LLC/KeHE Finance Corp./NextWave
Distribution, Inc., 9.00%, 02/15/29(b)
|
USD
|
9
|
9,469
|
|
Lion/Polaris Lux 4 SA, (3-mo. EURIBOR + 3.63%),
5.64%, 07/01/29(a)(c)
|
EUR
|
200
|
237,424
|
|
Market Bidco Finco PLC, 6.75%, 01/31/31(c)
|
|
131
|
151,875
|
|
Ocado Group PLC, 11.00%, 06/15/30(c)
|
GBP
|
113
|
152,687
|
|
United Natural Foods, Inc., 6.75%, 10/15/28(b)
|
USD
|
18
|
17,999
|
|
|
|
|
1,465,630
|
|
Containers & Packaging — 0.3%
|
|||
|
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal
Packaging Finance PLC, 4.00%, 09/01/29(b)
|
|
200
|
185,103
|
|
Ardagh Packaging Finance PLC/Ardagh Holdings USA,
Inc., 2.13%, 08/15/26(c)
|
EUR
|
242
|
277,151
|
|
Clydesdale Acquisition Holdings, Inc.(b)
|
|
|
|
|
6.63%, 04/15/29
|
|
23
|
23,262
|
|
6.88%, 01/15/30
|
|
58
|
59,497
|
|
8.75%, 04/15/30
|
|
59
|
60,607
|
|
6.75%, 04/15/32
|
|
76
|
77,965
|
|
Fedrigoni SpA, 6.13%, 06/15/31(c)
|
EUR
|
100
|
116,702
|
|
Fiber Midco SpA, (10.75% PIK), 10.75%, 06/15/29(c)(h)
|
|
100
|
108,533
|
|
Kleopatra Finco SARL, 4.25%, 03/01/26(c)
|
|
100
|
66,089
|
|
LABL, Inc.(b)
|
|
|
|
|
5.88%, 11/01/28
|
USD
|
34
|
26,343
|
|
Security
|
|
Par
(000)
|
Value
|
|
Containers & Packaging (continued)
|
|||
|
LABL, Inc.(b) (continued)
|
|
|
|
|
9.50%, 11/01/28
|
USD
|
96
|
$ 81,556
|
|
8.63%, 10/01/31
|
|
20
|
14,693
|
|
Magnera Corp., 7.25%, 11/15/31(b)
|
|
10
|
9,410
|
|
Mauser Packaging Solutions Holding Co.(b)
|
|
|
|
|
7.88%, 04/15/27
|
|
299
|
301,931
|
|
9.25%, 04/15/27
|
|
20
|
20,046
|
|
OI European Group BV, 5.25%, 06/01/29(c)
|
EUR
|
108
|
130,514
|
|
Sappi Papier Holding GmbH, 4.50%, 03/15/32(c)
|
|
305
|
353,236
|
|
Sealed Air Corp., 4.00%, 12/01/27(b)
|
USD
|
5
|
4,907
|
|
|
|
|
1,917,545
|
|
Distributors — 0.0%
|
|||
|
Gates Corp./DE, 6.88%, 07/01/29(b)
|
|
22
|
22,828
|
|
Diversified REITs — 0.1%
|
|||
|
Digital Realty Trust LP, 1.88%, 11/15/29(b)(k)
|
|
6
|
6,300
|
|
Iron Mountain Information Management Services, Inc.,
5.00%, 07/15/32(b)
|
|
63
|
60,703
|
|
Iron Mountain, Inc.
|
|
|
|
|
6.25%, 01/15/33(b)
|
|
16
|
16,320
|
|
4.75%, 01/15/34(c)
|
EUR
|
123
|
144,727
|
|
Millrose Properties, Inc.(b)
|
|
|
|
|
6.38%, 08/01/30
|
USD
|
41
|
41,697
|
|
6.25%, 09/15/32
|
|
21
|
21,055
|
|
Uniti Group LP/Uniti Group Finance 2019, Inc./CSL
Capital LLC, 10.50%, 02/15/28(b)
|
|
137
|
144,288
|
|
|
|
|
435,090
|
|
Diversified Telecommunication Services — 0.7%
|
|||
|
Altice Financing SA, 3.00%, 01/15/28(c)
|
EUR
|
100
|
90,501
|
|
EchoStar Corp.
|
|
|
|
|
(6.75% PIK), 6.75%, 11/30/30(h)
|
USD
|
135
|
139,440
|
|
10.75%, 11/30/29
|
|
130
|
143,062
|
|
eircom Finance DAC, 5.00%, 04/30/31(c)
|
EUR
|
200
|
240,510
|
|
Eutelsat SA, 9.75%, 04/13/29(c)
|
|
153
|
193,933
|
|
Fibercop SpA(c)
|
|
|
|
|
4.75%, 06/30/30
|
|
128
|
152,644
|
|
5.13%, 06/30/32
|
|
100
|
119,332
|
|
Frontier Communications Holdings LLC
|
|
|
|
|
5.00%, 05/01/28(b)
|
USD
|
49
|
48,890
|
|
6.75%, 05/01/29(b)
|
|
8
|
8,080
|
|
5.88%, 11/01/29
|
|
10
|
10,526
|
|
6.00%, 01/15/30(b)
|
|
15
|
15,176
|
|
8.75%, 05/15/30(b)
|
|
151
|
157,741
|
|
8.63%, 03/15/31(b)
|
|
12
|
12,651
|
|
Kaixo Bondco Telecom SA, 5.13%, 09/30/29(c)
|
EUR
|
150
|
178,254
|
|
Level 3 Financing, Inc.(b)
|
|
|
|
|
3.63%, 01/15/29
|
USD
|
3
|
2,596
|
|
4.88%, 06/15/29
|
|
77
|
72,388
|
|
4.50%, 04/01/30
|
|
31
|
28,171
|
|
3.88%, 10/15/30
|
|
7
|
5,675
|
|
4.00%, 04/15/31
|
|
3
|
2,926
|
|
6.88%, 06/30/33
|
|
145
|
147,611
|
|
7.00%, 03/31/34
|
|
184
|
187,185
|
|
Lorca Telecom Bondco SA, 5.75%, 04/30/29(c)
|
EUR
|
294
|
359,224
|
|
Lumen Technologies, Inc.(b)
|
|
|
|
|
4.13%, 04/15/29
|
USD
|
19
|
19,087
|
|
4.13%, 04/15/30
|
|
20
|
19,080
|
|
10.00%, 10/15/32
|
|
15
|
15,468
|
|
Maya SAS/Paris France
|
|
|
|
|
7.00%, 10/15/28(b)
|
|
289
|
293,633
|
|
5.38%, 04/15/30(c)
|
EUR
|
126
|
151,090
|
|
Security
|
|
Par
(000)
|
Value
|
|
Diversified Telecommunication Services (continued)
|
|||
|
Maya SAS/Paris France (continued)
|
|
|
|
|
6.88%, 04/15/31(c)
|
EUR
|
100
|
$ 124,710
|
|
SoftBank Group Corp.(c)
|
|
|
|
|
5.38%, 01/08/29
|
|
175
|
212,835
|
|
3.38%, 07/06/29
|
|
202
|
230,566
|
|
5.25%, 10/10/29
|
|
100
|
121,057
|
|
5.88%, 07/10/31
|
|
100
|
123,682
|
|
5.75%, 07/08/32
|
|
151
|
185,241
|
|
6.38%, 07/10/33
|
|
100
|
124,834
|
|
TalkTalk Telecom Group Ltd., (8.25% PIK), 8.25%,
09/01/27(c)(h)
|
GBP
|
33
|
32,807
|
|
Telecom Italia Capital SA, 7.72%, 06/04/38
|
USD
|
77
|
85,300
|
|
Windstream Services LLC, 10/15/33(b)(g)
|
|
27
|
26,993
|
|
Windstream Services LLC/Windstream Escrow Finance
Corp., 8.25%, 10/01/31(b)
|
|
109
|
112,911
|
|
Zayo Group Holdings, Inc.(b)(g)
|
|
|
|
|
03/09/30
|
|
113
|
107,949
|
|
09/09/30
|
|
28
|
26,244
|
|
|
|
|
4,330,003
|
|
Electric Utilities — 0.3%
|
|||
|
Adani Transmission Step-One Ltd., 4.00%, 08/03/26(c)
|
|
200
|
198,000
|
|
Alpha Generation LLC, 6.75%, 10/15/32(b)
|
|
21
|
21,678
|
|
California Buyer Ltd./Atlantica Sustainable Infrastructure
PLC, 5.63%, 02/15/32(c)
|
EUR
|
182
|
222,374
|
|
Continuum Energy Aura Pte. Ltd., 9.50%, 02/24/27(c)
|
USD
|
200
|
206,188
|
|
ContourGlobal Power Holdings SA, 5.00%, 02/28/30(c)
|
EUR
|
200
|
240,360
|
|
Edison International, Series A, (5-year CMT + 4.70%),
5.38%(a)(i)
|
USD
|
17
|
16,505
|
|
JSW Hydro Energy Ltd., 4.13%, 05/18/31(c)
|
|
142
|
134,545
|
|
Mong Duong Finance Holdings BV, 5.13%, 05/07/29(c)
|
|
339
|
334,988
|
|
Orsted A/S, (5-year EURIBOR ICE Swap + 2.59%),
5.13%, 12/31/99(a)(c)
|
EUR
|
100
|
120,426
|
|
Pike Corp., 8.63%, 01/31/31(b)
|
USD
|
5
|
5,364
|
|
Star Energy Geothermal Wayang Windu Ltd., 6.75%,
04/24/33(c)
|
|
137
|
141,435
|
|
Vistra Operations Co. LLC, 6.88%, 04/15/32(b)
|
|
24
|
25,101
|
|
XPLR Infrastructure Operating Partners LP, 8.38%,
01/15/31(b)
|
|
47
|
49,256
|
|
|
|
|
1,716,220
|
|
Electronic Equipment, Instruments & Components — 0.0%
|
|||
|
WESCO Distribution, Inc., 6.38%, 03/15/33(b)
|
|
8
|
8,293
|
|
Energy Equipment & Services — 0.1%
|
|||
|
Archrock Partners LP/Archrock Partners Finance Corp.(b)
|
|
|
|
|
6.25%, 04/01/28
|
|
119
|
119,165
|
|
6.63%, 09/01/32
|
|
35
|
35,902
|
|
Enerflex Ltd., 9.00%, 10/15/27(b)
|
|
36
|
36,654
|
|
Kodiak Gas Services LLC(b)
|
|
|
|
|
7.25%, 02/15/29
|
|
33
|
34,243
|
|
6.50%, 10/01/33
|
|
18
|
18,327
|
|
6.75%, 10/01/35
|
|
18
|
18,482
|
|
OEG Finance PLC, 7.25%, 09/27/29(c)
|
EUR
|
216
|
265,052
|
|
Star Holding LLC, 8.75%, 08/01/31(b)
|
USD
|
19
|
18,852
|
|
Tidewater, Inc., 9.13%, 07/15/30(b)
|
|
16
|
17,159
|
|
USA Compression Partners LP/USA Compression
Finance Corp.(b)
|
|
|
|
|
7.13%, 03/15/29
|
|
77
|
79,412
|
|
6.25%, 10/01/33
|
|
42
|
42,161
|
|
Security
|
|
Par
(000)
|
Value
|
|
Energy Equipment & Services (continued)
|
|||
|
Weatherford International Ltd.(b)
|
|
|
|
|
8.63%, 04/30/30
|
USD
|
18
|
$ 18,401
|
|
10/15/33(g)
|
|
38
|
38,026
|
|
|
|
|
741,836
|
|
Entertainment — 0.2%
|
|||
|
Allwyn Entertainment Financing U.K. PLC, 7.25%,
04/30/30(c)
|
EUR
|
450
|
554,079
|
|
Flutter Treasury DAC(c)
|
|
|
|
|
4.00%, 06/04/31
|
|
128
|
150,594
|
|
6.13%, 06/04/31
|
GBP
|
100
|
135,539
|
|
Lottomatica Group SpA(c)
|
|
|
|
|
5.38%, 06/01/30
|
EUR
|
100
|
121,660
|
|
4.88%, 01/31/31
|
|
107
|
129,441
|
|
(3-mo. EURIBOR + 3.25%), 5.30%, 06/01/31(a)
|
|
100
|
118,104
|
|
Scientific Games Holdings LP/Scientific Games
U.S. FinCo, Inc., 6.63%, 03/01/30(b)
|
USD
|
34
|
31,610
|
|
|
|
|
1,241,027
|
|
Environmental, Maintenance & Security Service — 0.1%
|
|||
|
Luna 1.5 SARL, (10.50% PIK), 10.50%, 07/01/32(c)(h)
|
EUR
|
124
|
150,863
|
|
Madison IAQ LLC, 5.88%, 06/30/29(b)
|
USD
|
61
|
60,262
|
|
Waste Pro USA, Inc., 7.00%, 02/01/33(b)
|
|
70
|
72,506
|
|
|
|
|
283,631
|
|
Financial Services — 0.6%
|
|||
|
Azorra Finance Ltd.(b)
|
|
|
|
|
7.75%, 04/15/30
|
|
12
|
12,585
|
|
7.25%, 01/15/31
|
|
7
|
7,289
|
|
Bracken MidCo1 PLC, (6.75% PIK), 6.75%, 11/01/27(c)(h)
|
GBP
|
100
|
133,963
|
|
CrossCountry Intermediate HoldCo LLC, 6.50%,
10/01/30(b)
|
USD
|
19
|
19,070
|
|
Deutsche Bank AG, (5-year EURIBOR ICE Swap +
5.26%), 8.13%(a)(c)(i)
|
EUR
|
200
|
256,434
|
|
Encore Issuances SA, Series 155, (3-mo. EURIBOR +
10.00%), 12.05%, 11/06/25(a)
|
|
12
|
13,552
|
|
Far East Horizon Ltd., 5.88%, 03/05/28(c)
|
USD
|
200
|
202,688
|
|
Freedom Mortgage Holdings LLC(b)
|
|
|
|
|
9.25%, 02/01/29
|
|
26
|
27,357
|
|
9.13%, 05/15/31
|
|
20
|
21,271
|
|
8.38%, 04/01/32
|
|
10
|
10,482
|
|
Garfunkelux Holdco 3 SA, 9.00%, 09/01/28(c)
|
EUR
|
111
|
132,484
|
|
Global Aircraft Leasing Co. Ltd., 8.75%, 09/01/27(b)
|
USD
|
28
|
28,871
|
|
Intrum Investments And Financing AB
|
|
|
|
|
7.75%, 09/11/27
|
EUR
|
49
|
53,340
|
|
8.00%, 09/11/27(c)
|
|
101
|
120,990
|
|
8.50%, 09/11/29
|
|
62
|
63,284
|
|
Series 1, 7.75%, 09/11/28(b)(c)
|
|
135
|
140,361
|
|
Manappuram Finance Ltd., 7.38%, 05/12/28(c)
|
USD
|
200
|
204,500
|
|
Muangthai Capital PCL, 7.55%, 07/21/30(c)
|
|
475
|
492,361
|
|
Nationstar Mortgage Holdings, Inc.(b)
|
|
|
|
|
6.50%, 08/01/29
|
|
7
|
7,181
|
|
7.13%, 02/01/32
|
|
42
|
43,840
|
|
PennyMac Financial Services, Inc.(b)
|
|
|
|
|
7.13%, 11/15/30
|
|
12
|
12,495
|
|
6.88%, 05/15/32
|
|
22
|
22,796
|
|
6.75%, 02/15/34
|
|
22
|
22,442
|
|
Phoenix Aviation Capital Ltd., 9.25%, 07/15/30(b)
|
|
26
|
27,662
|
|
Piramal Capital & Housing Finance Ltd., 7.80%,
01/29/28(c)
|
|
200
|
205,000
|
|
PRA Group Europe Holding II SARL, 6.25%, 09/30/32(c)
|
EUR
|
195
|
225,563
|
|
Progroup AG, 5.38%, 04/15/31(c)
|
|
100
|
118,546
|
|
ProGroup AG, 5.13%, 04/15/29(c)
|
|
100
|
119,500
|
|
Security
|
|
Par
(000)
|
Value
|
|
Financial Services (continued)
|
|||
|
Rocket Cos., Inc.(b)
|
|
|
|
|
6.13%, 08/01/30
|
USD
|
76
|
$ 78,000
|
|
6.38%, 08/01/33
|
|
74
|
76,376
|
|
Shriram Finance Ltd., 6.63%, 04/22/27(c)
|
|
200
|
204,250
|
|
Stena International SA, 7.25%, 01/15/31(b)
|
|
200
|
203,904
|
|
Titanium 2l Bondco SARL, (6.25% PIK), 6.25%,
01/14/31(h)
|
EUR
|
108
|
32,732
|
|
UWM Holdings LLC(b)
|
|
|
|
|
6.63%, 02/01/30
|
USD
|
27
|
27,467
|
|
6.25%, 03/15/31
|
|
14
|
13,933
|
|
|
|
|
3,382,569
|
|
Food Products — 0.2%
|
|||
|
B&G Foods, Inc., 8.00%, 09/15/28(b)
|
|
7
|
6,782
|
|
Chobani Holdco II LLC, (8.75% in Cash or 9.5% in PIK),
8.75%, 10/01/29(b)(h)
|
|
104
|
110,420
|
|
Chobani LLC/Chobani Finance Corp., Inc., 7.63%,
07/01/29(b)
|
|
149
|
155,369
|
|
Darling Global Finance BV, 4.50%, 07/15/32(c)
|
EUR
|
124
|
146,984
|
|
Elior Group SA, 5.63%, 03/15/30(c)
|
|
110
|
132,326
|
|
Fiesta Purchaser, Inc.(b)
|
|
|
|
|
7.88%, 03/01/31
|
USD
|
7
|
7,387
|
|
9.63%, 09/15/32
|
|
6
|
6,478
|
|
Froneri Lux FinCo SARL, 4.75%, 08/01/32(c)
|
EUR
|
100
|
118,439
|
|
Irca SpA/Gallarate, (3-mo. EURIBOR + 3.75%), 5.76%,
12/15/29(a)(c)
|
|
100
|
118,251
|
|
Tereos Finance Groupe I SA, 7.25%, 04/15/28(c)
|
|
300
|
362,398
|
|
|
|
|
1,164,834
|
|
Ground Transportation(b) — 0.0%
|
|||
|
Brightline East LLC, 11.00%, 01/31/30
|
USD
|
300
|
123,000
|
|
Watco Cos. LLC/Watco Finance Corp., 7.13%, 08/01/32
|
|
6
|
6,210
|
|
|
|
|
129,210
|
|
Health Care Equipment & Supplies — 0.0%
|
|||
|
Bausch & Lomb Corp., 8.38%, 10/01/28(b)
|
|
126
|
131,316
|
|
Bausch & Lomb Netherlands BV & Bausch & Lomb, Inc.,
(3-mo. EURIBOR + 3.88%), 5.87%, 01/15/31(a)(c)
|
EUR
|
100
|
118,955
|
|
|
|
|
250,271
|
|
Health Care Providers & Services — 0.3%
|
|||
|
Acadia Healthcare Co., Inc., 7.38%, 03/15/33(b)
|
USD
|
8
|
8,306
|
|
AHP Health Partners, Inc., 5.75%, 07/15/29(b)
|
|
63
|
62,001
|
|
CHS/Community Health Systems, Inc.(b)
|
|
|
|
|
6.00%, 01/15/29
|
|
4
|
3,883
|
|
5.25%, 05/15/30
|
|
176
|
159,217
|
|
4.75%, 02/15/31
|
|
17
|
14,701
|
|
10.88%, 01/15/32
|
|
36
|
38,127
|
|
9.75%, 01/15/34
|
|
65
|
66,593
|
|
Clariane SE, 7.88%, 06/27/30(c)
|
EUR
|
100
|
120,625
|
|
DaVita, Inc., 6.75%, 07/15/33(b)
|
USD
|
13
|
13,406
|
|
Ephios Subco 3 SARL, 7.88%, 01/31/31(c)
|
EUR
|
134
|
167,481
|
|
HAH Group Holding Co. LLC, 9.75%, 10/01/31(b)
|
USD
|
12
|
11,401
|
|
LifePoint Health, Inc.(b)
|
|
|
|
|
9.88%, 08/15/30
|
|
27
|
29,239
|
|
11.00%, 10/15/30
|
|
94
|
103,603
|
|
8.38%, 02/15/32
|
|
23
|
24,511
|
|
10.00%, 06/01/32
|
|
18
|
18,899
|
|
Medline Borrower LP, 5.25%, 10/01/29(b)
|
|
285
|
282,536
|
|
Medline Borrower LP/Medline Co-Issuer, Inc., 6.25%,
04/01/29(b)
|
|
3
|
3,076
|
|
Mehilainen Yhtiot OYJ, 5.13%, 06/30/32(c)
|
EUR
|
100
|
119,895
|
|
Prime Healthcare Services, Inc., 9.38%, 09/01/29(b)
|
USD
|
6
|
6,240
|
|
Star Parent, Inc., 9.00%, 10/01/30(b)
|
|
90
|
95,147
|
|
Security
|
|
Par
(000)
|
Value
|
|
Health Care Providers & Services (continued)
|
|||
|
Surgery Center Holdings, Inc., 7.25%, 04/15/32(b)
|
USD
|
116
|
$ 119,161
|
|
U.S. Acute Care Solutions LLC, 9.75%, 05/15/29(b)
|
|
40
|
40,959
|
|
|
|
|
1,509,007
|
|
Health Care REITs — 1.6%
|
|||
|
Diversified Healthcare Trust
|
|
|
|
|
0.00%, 01/15/26(b)(l)
|
|
1,431
|
1,415,282
|
|
4.75%, 02/15/28
|
|
8,287
|
7,900,381
|
|
7.25%, 10/15/30(b)
|
|
10
|
10,163
|
|
MPT Operating Partnership LP/MPT Finance Corp.
|
|
|
|
|
7.00%, 02/15/32(c)
|
EUR
|
123
|
150,896
|
|
8.50%, 02/15/32(b)
|
USD
|
73
|
77,567
|
|
|
|
|
9,554,289
|
|
Hotel & Resort REITs — 0.0%
|
|||
|
Park Intermediate Holdings LLC/PK Domestic Property
LLC/PK Finance Co-Issuer, 7.00%, 02/01/30(b)
|
|
27
|
27,834
|
|
RHP Hotel Properties LP/RHP Finance Corp., 6.50%,
06/15/33(b)
|
|
21
|
21,628
|
|
Service Properties Trust
|
|
|
|
|
0.00%, 09/30/27(b)(l)
|
|
20
|
17,630
|
|
8.63%, 11/15/31(b)
|
|
153
|
162,898
|
|
8.88%, 06/15/32
|
|
24
|
24,135
|
|
|
|
|
254,125
|
|
Hotels, Restaurants & Leisure — 0.7%
|
|||
|
Bertrand Franchise Finance SAS, (3-mo. EURIBOR +
3.75%), 5.99%, 07/18/30(a)(c)
|
EUR
|
100
|
112,255
|
|
Caesars Entertainment, Inc., 7.00%, 02/15/30(b)
|
USD
|
79
|
81,260
|
|
Carnival Corp., 6.13%, 02/15/33(b)
|
|
53
|
54,327
|
|
CPUK Finance Ltd., 4.50%, 08/28/27(c)
|
GBP
|
116
|
152,889
|
|
Essendi SA(c)
|
|
|
|
|
5.50%, 11/15/31
|
EUR
|
101
|
122,105
|
|
5.63%, 05/15/32
|
|
154
|
186,424
|
|
Fertitta Entertainment LLC/Fertitta Entertainment
Finance Co., Inc.(b)
|
|
|
|
|
4.63%, 01/15/29
|
USD
|
42
|
39,973
|
|
6.75%, 01/15/30
|
|
6
|
5,631
|
|
Food Service Project SA, 5.50%, 01/21/27(c)
|
EUR
|
200
|
235,484
|
|
Fortune Star BVI Ltd.(c)
|
|
|
|
|
3.95%, 10/02/26
|
|
200
|
232,340
|
|
6.80%, 09/09/29
|
USD
|
200
|
200,200
|
|
Great Canadian Gaming Corp./Raptor LLC, 8.75%,
11/15/29(b)
|
|
28
|
27,687
|
|
Light & Wonder International, Inc., 6.25%, 10/01/33(b)
|
|
18
|
18,031
|
|
Lindblad Expeditions LLC, 7.00%, 09/15/30(b)
|
|
24
|
24,463
|
|
MajorDrive Holdings IV LLC, 6.38%, 06/01/29(b)
|
|
45
|
36,876
|
|
Melco Resorts Finance Ltd.(c)
|
|
|
|
|
5.75%, 07/21/28
|
|
200
|
199,900
|
|
7.63%, 04/17/32
|
|
200
|
209,500
|
|
Mohegan Tribal Gaming Authority/MS Digital
Entertainment Holdings LLC, 8.25%, 04/15/30(b)
|
|
15
|
15,586
|
|
Motion Finco SARL, 7.38%, 06/15/30(c)
|
EUR
|
200
|
211,525
|
|
NCL Corp. Ltd.(b)
|
|
|
|
|
5.88%, 01/15/31
|
USD
|
35
|
34,999
|
|
6.75%, 02/01/32
|
|
15
|
15,426
|
|
6.25%, 09/15/33
|
|
52
|
52,269
|
|
Pinewood Finco PLC, 6.00%, 03/27/30(c)
|
GBP
|
246
|
332,753
|
|
Premier Entertainment Sub LLC/Premier Entertainment
Finance Corp.(b)
|
|
|
|
|
5.63%, 09/01/29
|
USD
|
21
|
11,340
|
|
5.88%, 09/01/31
|
|
23
|
11,858
|
|
Security
|
|
Par
(000)
|
Value
|
|
Hotels, Restaurants & Leisure (continued)
|
|||
|
Rivers Enterprise Borrower LLC/Rivers Enterprise
Finance Corp., 6.63%, 02/01/33(b)
|
USD
|
13
|
$ 13,173
|
|
Rivers Enterprise Lender LLC/Rivers Enterprise Lender
Corp., 10/15/30(b)(g)
|
|
12
|
12,107
|
|
Sabre GLBL, Inc.(b)
|
|
|
|
|
8.63%, 06/01/27
|
|
24
|
24,344
|
|
10.75%, 11/15/29
|
|
42
|
40,589
|
|
11.13%, 07/15/30
|
|
24
|
23,243
|
|
Starz Capital Holdings 1, Inc., 6.00%, 04/15/30(b)
|
|
26
|
24,657
|
|
Station Casinos LLC, 6.63%, 03/15/32(b)
|
|
39
|
40,062
|
|
Stonegate Pub Co. Financing PLC(c)
|
|
|
|
|
10.75%, 07/31/29
|
GBP
|
100
|
134,858
|
|
(3-mo. EURIBOR + 6.63%), 8.66%, 07/31/29(a)
|
EUR
|
100
|
115,698
|
|
TUI Cruises GmbH, 5.00%, 05/15/30(c)
|
|
100
|
120,538
|
|
Viking Cruises Ltd.(b)
|
|
|
|
|
9.13%, 07/15/31
|
USD
|
81
|
86,939
|
|
10/15/33(g)
|
|
46
|
46,032
|
|
Voyager Parent LLC, 9.25%, 07/01/32(b)
|
|
18
|
19,035
|
|
Warnermedia Holdings, Inc., 5.05%, 03/15/42
|
|
107
|
85,420
|
|
Wynn Macau Ltd.
|
|
|
|
|
5.63%, 08/26/28(b)
|
|
200
|
199,602
|
|
5.63%, 08/26/28(c)
|
|
200
|
199,602
|
|
6.75%, 02/15/34(c)
|
|
350
|
354,795
|
|
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp.,
7.13%, 02/15/31(b)
|
|
71
|
76,421
|
|
|
|
|
4,242,216
|
|
Household Durables — 0.0%
|
|||
|
Ashton Woods USA LLC/Ashton Woods Finance Co.,
6.88%, 08/01/33(b)
|
|
11
|
11,094
|
|
Beazer Homes USA, Inc., 5.88%, 10/15/27
|
|
4
|
3,997
|
|
Century Communities, Inc., 6.63%, 09/15/33(b)
|
|
13
|
13,114
|
|
Dream Finders Homes, Inc., 8.25%, 08/15/28(b)
|
|
8
|
8,300
|
|
Empire Communities Corp., 9.75%, 05/01/29(b)
|
|
5
|
5,243
|
|
K Hovnanian Enterprises, Inc.(b)
|
|
|
|
|
8.00%, 04/01/31
|
|
20
|
20,509
|
|
8.38%, 10/01/33
|
|
20
|
20,505
|
|
LGI Homes, Inc.(b)
|
|
|
|
|
8.75%, 12/15/28
|
|
6
|
6,299
|
|
7.00%, 11/15/32
|
|
14
|
13,670
|
|
Meritage Homes Corp., 1.75%, 05/15/28(k)
|
|
22
|
22,516
|
|
New Home Co., Inc., 9.25%, 10/01/29(b)
|
|
13
|
13,650
|
|
Newell Brands, Inc., 8.50%, 06/01/28(b)
|
|
12
|
12,693
|
|
STL Holding Co. LLC, 8.75%, 02/15/29(b)
|
|
9
|
9,431
|
|
Whirlpool Corp., 6.50%, 06/15/33
|
|
13
|
12,973
|
|
|
|
|
173,994
|
|
Independent Power and Renewable Electricity Producers — 0.1%
|
|||
|
Greenko Dutch BV, 3.85%, 03/29/26(c)
|
|
173
|
171,314
|
|
Greenko Power II Ltd., 4.30%, 12/13/28(c)
|
|
160
|
152,136
|
|
ReNew Pvt Ltd., 5.88%, 03/05/27(c)
|
|
200
|
199,722
|
|
San Miguel Global Power Holdings Corp., (5-year CMT +
7.73%), 8.75%(a)(c)(i)
|
|
200
|
205,000
|
|
Vistra Corp., (5-year CMT + 6.93%), 8.00%(a)(b)(i)
|
|
13
|
13,297
|
|
XPLR Infrastructure LP(b)(k)
|
|
|
|
|
0.00%, 11/15/25(l)
|
|
37
|
36,723
|
|
2.50%, 06/15/26
|
|
43
|
41,925
|
|
|
|
|
820,117
|
|
Industrial Conglomerates — 0.0%
|
|||
|
Enpro, Inc., 6.13%, 06/01/33(b)
|
|
12
|
12,265
|
|
Maxam Prill SARL, 6.00%, 07/15/30(c)
|
EUR
|
197
|
234,807
|
|
|
|
|
247,072
|
|
Security
|
|
Par
(000)
|
Value
|
|
Insurance — 0.5%
|
|||
|
Acrisure LLC/Acrisure Finance, Inc., 6.75%, 07/01/32(b)
|
USD
|
8
|
$ 8,237
|
|
Alliant Holdings Intermediate LLC/Alliant Holdings Co-
Issuer(b)
|
|
|
|
|
4.25%, 10/15/27
|
|
139
|
136,692
|
|
6.75%, 10/15/27
|
|
165
|
165,355
|
|
7.38%, 10/01/32
|
|
102
|
105,104
|
|
AmWINS Group, Inc., 4.88%, 06/30/29(b)
|
|
32
|
31,101
|
|
Amynta Agency Borrower, Inc. and Amynta Warranty
Borrower, Inc., 7.50%, 07/15/33(b)
|
|
25
|
25,591
|
|
APH Somerset Investor 2 LLC/APH2 Somerset Investor
2 LLC/APH3 Somerset Investor 2 LLC, 7.88%,
11/01/29(b)
|
|
17
|
17,742
|
|
Ardonagh Finco Ltd., 6.88%, 02/15/31(c)
|
EUR
|
266
|
322,797
|
|
Howden U.K. Refinance PLC/Howden U.K. Refinance
2 PLC/Howden U.S. Refinance LLC(b)
|
|
|
|
|
7.25%, 02/15/31
|
USD
|
107
|
110,164
|
|
8.13%, 02/15/32
|
|
65
|
67,437
|
|
HUB International Ltd.(b)
|
|
|
|
|
7.25%, 06/15/30
|
|
139
|
144,964
|
|
7.38%, 01/31/32
|
|
241
|
250,963
|
|
Jones Deslauriers Insurance Management, Inc.(b)
|
|
|
|
|
8.50%, 03/15/30
|
|
43
|
45,176
|
|
6.88%, 10/01/33
|
|
27
|
26,859
|
|
Meiji Yasuda Life Insurance Co., (5-year CMT + 2.91%),
6.10%, 06/11/55(a)(c)
|
|
600
|
624,278
|
|
Nanshan Life Pte. Ltd., (5-year CMT + 1.85%), 5.88%,
03/17/41(a)(c)
|
|
200
|
202,966
|
|
Nassau Cos., of New York, 7.88%, 07/15/30(b)
|
|
6
|
6,128
|
|
Panther Escrow Issuer LLC, 7.13%, 06/01/31(b)
|
|
193
|
200,743
|
|
RLGH Finance Bermuda Ltd., 6.75%, 07/02/35(c)
|
|
275
|
293,393
|
|
Sumitomo Life Insurance Co., (5-year CMT + 2.84%),
5.88%(a)(c)(i)
|
|
200
|
204,832
|
|
Unipol Assicurazioni SpA, 4.90%, 05/23/34(c)
|
EUR
|
100
|
123,629
|
|
|
|
|
3,114,151
|
|
Interactive Media & Services — 0.9%
|
|||
|
iliad SA, 4.25%, 01/09/32(c)
|
|
100
|
118,042
|
|
Snap, Inc.(b)
|
|
|
|
|
6.88%, 03/01/33
|
USD
|
48
|
49,061
|
|
6.88%, 03/15/34
|
|
40
|
40,485
|
|
Telegram Group, Inc., 9.00%, 06/05/30(c)
|
|
5,000
|
5,087,948
|
|
|
|
|
5,295,536
|
|
Internet Software & Services — 0.1%
|
|||
|
Engineering - Ingegneria Informatica - SpA(c)
|
|
|
|
|
11.13%, 05/15/28
|
EUR
|
116
|
145,127
|
|
8.63%, 02/15/30
|
|
100
|
126,475
|
|
Getty Images, Inc., 11.25%, 02/21/30(b)
|
USD
|
20
|
19,099
|
|
ION Trading Technologies SARL, 5.75%, 05/15/28(b)
|
|
200
|
196,266
|
|
Match Group Holdings II LLC, 6.13%, 09/15/33(b)
|
|
26
|
26,228
|
|
Rakuten Group, Inc., 9.75%, 04/15/29(c)
|
|
200
|
224,893
|
|
|
|
|
738,088
|
|
IT Services — 0.2%
|
|||
|
Almaviva-The Italian Innovation Co. SpA, 5.00%,
10/30/30(c)
|
EUR
|
212
|
252,840
|
|
Amentum Holdings, Inc., 7.25%, 08/01/32(b)
|
USD
|
19
|
19,729
|
|
Atos SE(c)(j)
|
|
|
|
|
5.20%, 12/18/30
|
EUR
|
180
|
199,298
|
|
9.36%, 12/18/29
|
|
229
|
308,790
|
|
CA Magnum Holdings, 5.38%, 10/31/26(c)
|
USD
|
200
|
199,025
|
|
CACI International, Inc., 6.38%, 06/15/33(b)
|
|
26
|
26,820
|
|
Cedacri SpA, (3-mo. EURIBOR + 4.63%), 6.66%,
05/15/28(a)(c)
|
EUR
|
100
|
118,077
|
|
Security
|
|
Par
(000)
|
Value
|
|
IT Services (continued)
|
|||
|
Fortress Intermediate 3, Inc., 7.50%, 06/01/31(b)
|
USD
|
68
|
$ 71,199
|
|
McAfee Corp., 7.38%, 02/15/30(b)
|
|
62
|
57,511
|
|
OVH Groupe SA, 4.75%, 02/05/31(c)
|
EUR
|
116
|
138,681
|
|
Science Applications International Corp., 5.88%,
11/01/33(b)
|
USD
|
18
|
18,006
|
|
|
|
|
1,409,976
|
|
Leisure Products(c) — 0.1%
|
|||
|
Deuce Finco PLC, 5.50%, 06/15/27
|
GBP
|
100
|
134,239
|
|
Dometic Group AB, 5.00%, 09/11/30
|
EUR
|
100
|
117,837
|
|
Pinnacle Bidco PLC, 10.00%, 10/11/28
|
GBP
|
312
|
442,698
|
|
|
|
|
694,774
|
|
Machinery — 0.1%
|
|||
|
Chart Industries, Inc., 9.50%, 01/01/31(b)
|
USD
|
40
|
42,854
|
|
Husky Injection Molding Systems Ltd./Titan Co-Borrower
LLC, 9.00%, 02/15/29(b)
|
|
76
|
79,434
|
|
IMA Industria Macchine Automatiche SpA, (3-mo.
EURIBOR + 3.75%), 5.78%, 04/15/29(a)(c)
|
EUR
|
200
|
236,984
|
|
Manitowoc Co., Inc., 9.25%, 10/01/31(b)
|
USD
|
8
|
8,394
|
|
TK Elevator U.S. Newco, Inc., 5.25%, 07/15/27(b)
|
|
295
|
293,957
|
|
|
|
|
661,623
|
|
Media — 0.5%
|
|||
|
CCO Holdings LLC/CCO Holdings Capital Corp.(b)
|
|
|
|
|
7.38%, 03/01/31
|
|
306
|
315,726
|
|
4.25%, 01/15/34
|
|
2
|
1,729
|
|
CSC Holdings LLC, 11.25%, 05/15/28(b)
|
|
200
|
185,152
|
|
Directv Financing LLC, 8.88%, 02/01/30(b)
|
|
36
|
35,558
|
|
Directv Financing LLC/Directv Financing Co-Obligor,
Inc.(b)
|
|
|
|
|
5.88%, 08/15/27
|
|
26
|
25,971
|
|
10.00%, 02/15/31
|
|
48
|
47,930
|
|
DISH DBS Corp.(b)
|
|
|
|
|
5.25%, 12/01/26
|
|
72
|
70,747
|
|
5.75%, 12/01/28
|
|
55
|
52,725
|
|
DISH Network Corp., 11.75%, 11/15/27(b)
|
|
102
|
107,942
|
|
Gray Media, Inc.(b)
|
|
|
|
|
10.50%, 07/15/29
|
|
35
|
37,844
|
|
9.63%, 07/15/32
|
|
32
|
32,692
|
|
7.25%, 08/15/33
|
|
37
|
36,665
|
|
Live Nation Entertainment, Inc., 4.75%, 10/15/27(b)
|
|
4
|
3,973
|
|
Midcontinent Communications, 8.00%, 08/15/32(b)
|
|
40
|
41,212
|
|
Sinclair Television Group, Inc., 8.13%, 02/15/33(b)
|
|
39
|
40,024
|
|
Tele Columbus AG, (10.00% PIK), 10.00%, 01/01/29(c)(h)
|
EUR
|
127
|
100,331
|
|
Univision Communications, Inc.(b)
|
|
|
|
|
8.00%, 08/15/28
|
USD
|
66
|
68,390
|
|
8.50%, 07/31/31
|
|
29
|
29,947
|
|
9.38%, 08/01/32
|
|
42
|
44,758
|
|
Virgin Media O2 Vendor Financing Notes V DAC, 7.88%,
03/15/32(c)
|
GBP
|
126
|
175,133
|
|
Virgin Media Secured Finance PLC(c)
|
|
|
|
|
5.25%, 05/15/29
|
|
500
|
656,327
|
|
4.25%, 01/15/30
|
|
100
|
124,731
|
|
VZ Secured Financing BV, 5.25%, 01/15/33(c)
|
EUR
|
161
|
189,014
|
|
VZ Vendor Financing II BV, 2.88%, 01/15/29(c)
|
|
196
|
216,925
|
|
|
|
|
2,641,446
|
|
Metals & Mining — 0.2%
|
|||
|
Arsenal AIC Parent LLC, 11.50%, 10/01/31(b)
|
USD
|
125
|
138,828
|
|
Big River Steel LLC/BRS Finance Corp., 6.63%,
01/31/29(b)
|
|
169
|
169,066
|
|
Cleveland-Cliffs, Inc., 6.88%, 11/01/29(b)
|
|
25
|
25,477
|
|
JSW Steel Ltd., 3.95%, 04/05/27(c)
|
|
200
|
196,400
|
|
Kaiser Aluminum Corp., 4.50%, 06/01/31(b)
|
|
139
|
131,012
|
|
Security
|
|
Par
(000)
|
Value
|
|
Metals & Mining (continued)
|
|||
|
New Gold, Inc., 6.88%, 04/01/32(b)
|
USD
|
22
|
$ 23,043
|
|
Novelis Corp.(b)
|
|
|
|
|
6.88%, 01/30/30
|
|
25
|
25,924
|
|
3.88%, 08/15/31
|
|
96
|
87,522
|
|
6.38%, 08/15/33
|
|
56
|
56,579
|
|
|
|
|
853,851
|
|
Mortgage Real Estate Investment Trusts (REITs)(b) — 0.0%
|
|||
|
Arbor Realty SR, Inc., 7.88%, 07/15/30
|
|
11
|
11,566
|
|
Blackstone Mortgage Trust, Inc., 3.75%, 01/15/27
|
|
10
|
9,763
|
|
Starwood Property Trust, Inc., 6.50%, 07/01/30
|
|
12
|
12,412
|
|
|
|
|
33,741
|
|
Multi-Utilities — 0.0%
|
|||
|
AmeriGas Partners LP/AmeriGas Finance Corp., 9.50%,
06/01/30(b)
|
|
6
|
6,281
|
|
Oil, Gas & Consumable Fuels — 0.7%
|
|||
|
Aethon United BR LP/Aethon United Finance Corp.,
7.50%, 10/01/29(b)
|
|
21
|
21,901
|
|
Ascent Resources Utica Holdings LLC/ARU Finance
Corp.(b)
|
|
|
|
|
9.00%, 11/01/27
|
|
2
|
2,416
|
|
6.63%, 07/15/33
|
|
13
|
13,217
|
|
Caturus Energy LLC, 8.50%, 02/15/30(b)
|
|
43
|
44,770
|
|
CD&R Firefly Bidco PLC, 8.63%, 04/30/29(c)
|
GBP
|
337
|
476,179
|
|
Chord Energy Corp., 6.75%, 03/15/33(b)
|
USD
|
5
|
5,066
|
|
CITGO Petroleum Corp., 8.38%, 01/15/29(b)
|
|
68
|
70,665
|
|
Civitas Resources, Inc., 8.38%, 07/01/28(b)
|
|
46
|
47,681
|
|
CNX Resources Corp., 7.25%, 03/01/32(b)
|
|
9
|
9,337
|
|
Comstock Resources, Inc., 6.75%, 03/01/29(b)
|
|
104
|
103,830
|
|
Crescent Energy Finance LLC(b)
|
|
|
|
|
7.63%, 04/01/32
|
|
42
|
41,710
|
|
7.38%, 01/15/33
|
|
42
|
40,894
|
|
8.38%, 01/15/34
|
|
29
|
29,383
|
|
Delek Logistics Partners LP/Delek Logistics Finance
Corp., 7.38%, 06/30/33(b)
|
|
22
|
22,372
|
|
Diamond Foreign Asset Co./Diamond Finance LLC,
8.50%, 10/01/30(b)
|
|
18
|
19,074
|
|
Enbridge, Inc.
|
|
|
|
|
6.70%, 11/15/53
|
|
530
|
591,879
|
|
(5-year CMT + 2.97%), 7.20%, 06/27/54(a)
|
|
15
|
15,906
|
|
(5-year CMT + 3.12%), 7.38%, 03/15/55(a)
|
|
15
|
15,870
|
|
Energy Transfer LP, (5-year CMT + 2.83%), 7.13%,
10/01/54(a)
|
|
21
|
21,736
|
|
Excelerate Energy LP, 8.00%, 05/15/30(b)
|
|
13
|
13,838
|
|
Genesis Energy LP/Genesis Energy Finance Corp.
|
|
|
|
|
7.75%, 02/01/28
|
|
2
|
2,014
|
|
7.88%, 05/15/32
|
|
21
|
21,902
|
|
8.00%, 05/15/33
|
|
15
|
15,689
|
|
Global Partners LP/GLP Finance Corp., 7.13%,
07/01/33(b)
|
|
8
|
8,200
|
|
Harvest Midstream I LP, 7.50%, 05/15/32(b)
|
|
28
|
28,602
|
|
Hilcorp Energy I LP/Hilcorp Finance Co.(b)
|
|
|
|
|
8.38%, 11/01/33
|
|
101
|
106,078
|
|
6.88%, 05/15/34
|
|
25
|
24,036
|
|
7.25%, 02/15/35
|
|
10
|
9,773
|
|
Howard Midstream Energy Partners LLC(b)
|
|
|
|
|
7.38%, 07/15/32
|
|
19
|
19,723
|
|
6.63%, 01/15/34
|
|
23
|
23,450
|
|
Ithaca Energy North Sea PLC, 5.50%, 10/01/31(c)
|
EUR
|
100
|
118,432
|
|
ITT Holdings LLC, 6.50%, 08/01/29(b)
|
USD
|
11
|
10,815
|
|
Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas
Finance Corp., 6.88%, 12/01/32(b)
|
|
11
|
11,288
|
|
MPLX LP, 4.95%, 03/14/52
|
|
400
|
341,232
|
|
Security
|
|
Par
(000)
|
Value
|
|
Oil, Gas & Consumable Fuels (continued)
|
|||
|
Nabors Industries, Inc., 7.38%, 05/15/27(b)
|
USD
|
54
|
$ 54,816
|
|
NGL Energy Operating LLC/NGL Energy Finance
Corp.(b)
|
|
|
|
|
8.13%, 02/15/29
|
|
20
|
20,506
|
|
8.38%, 02/15/32
|
|
86
|
88,120
|
|
Noble Finance II LLC, 8.00%, 04/15/30(b)
|
|
2
|
2,070
|
|
Northern Oil & Gas, Inc.(b)
|
|
|
|
|
8.13%, 03/01/28
|
|
116
|
117,638
|
|
10/15/33(g)
|
|
36
|
35,858
|
|
Northriver Midstream Finance LP, 6.75%, 07/15/32(b)
|
|
13
|
13,294
|
|
Prairie Acquiror LP, 9.00%, 08/01/29(b)
|
|
11
|
11,452
|
|
Sunoco LP(b)
|
|
|
|
|
5.63%, 03/15/31
|
|
10
|
9,926
|
|
6.25%, 07/01/33
|
|
20
|
20,357
|
|
5.88%, 03/15/34
|
|
10
|
9,913
|
|
Tallgrass Energy Partners LP/Tallgrass Energy Finance
Corp., 7.38%, 02/15/29(b)
|
|
41
|
42,224
|
|
TGNR Intermediate Holdings LLC, 5.50%, 10/15/29(b)
|
|
3
|
2,936
|
|
TransMontaigne Partners LLC, 8.50%, 06/15/30(b)
|
|
4
|
4,168
|
|
Transocean International Ltd.(b)
|
|
|
|
|
8.00%, 02/01/27
|
|
43
|
42,940
|
|
8.25%, 05/15/29
|
|
17
|
16,760
|
|
8.75%, 02/15/30
|
|
43
|
44,980
|
|
8.50%, 05/15/31
|
|
13
|
12,740
|
|
10/15/32(g)
|
|
12
|
12,000
|
|
Valaris Ltd., 8.38%, 04/30/30(b)
|
|
54
|
56,044
|
|
Venture Global LNG, Inc.(b)
|
|
|
|
|
9.50%, 02/01/29
|
|
89
|
98,080
|
|
8.38%, 06/01/31
|
|
115
|
120,747
|
|
9.88%, 02/01/32
|
|
72
|
78,388
|
|
Venture Global Plaquemines LNG LLC(b)
|
|
|
|
|
7.50%, 05/01/33
|
|
29
|
32,045
|
|
6.50%, 01/15/34
|
|
66
|
69,475
|
|
7.75%, 05/01/35
|
|
25
|
28,218
|
|
6.75%, 01/15/36
|
|
69
|
73,290
|
|
Vital Energy, Inc.
|
|
|
|
|
7.75%, 07/31/29(b)
|
|
10
|
9,903
|
|
9.75%, 10/15/30
|
|
37
|
38,630
|
|
7.88%, 04/15/32(b)
|
|
46
|
44,654
|
|
Wildfire Intermediate Holdings LLC, 7.50%, 10/15/29(b)
|
|
32
|
32,332
|
|
Wintershall Dea Finance 2 BV, (5-year EURIBOR ICE
Swap + 3.94%), 6.12%(a)(c)(i)
|
EUR
|
200
|
245,377
|
|
|
|
|
3,838,839
|
|
Passenger Airlines — 0.1%
|
|||
|
American Airlines, Inc., 8.50%, 05/15/29(b)
|
USD
|
14
|
14,604
|
|
American Airlines, Inc./AAdvantage Loyalty IP Ltd.,
5.75%, 04/20/29(b)
|
|
3
|
3,011
|
|
Deutsche Lufthansa AG, (5-year EURIBOR ICE Swap +
2.86%), 5.25%, 01/15/55(a)(c)
|
EUR
|
200
|
242,293
|
|
JetBlue Airways Corp./JetBlue Loyalty LP, 9.88%,
09/20/31(b)
|
USD
|
25
|
25,357
|
|
OneSky Flight LLC, 8.88%, 12/15/29(b)
|
|
14
|
14,722
|
|
|
|
|
299,987
|
|
Personal Care Products — 1.1%
|
|||
|
Beauty Health Co.(b)(k)
|
|
|
|
|
1.25%, 10/01/26
|
|
4,250
|
3,827,125
|
|
7.95%, 11/15/28
|
|
2,500
|
2,700,478
|
|
Opal Bidco SAS, 5.50%, 03/31/32(c)
|
EUR
|
100
|
121,513
|
|
|
|
|
6,649,116
|
|
Pharmaceuticals — 0.3%
|
|||
|
1261229 B.C. Ltd., 10.00%, 04/15/32(b)
|
USD
|
200
|
205,010
|
|
Amneal Pharmaceuticals LLC, 6.88%, 08/01/32(b)
|
|
14
|
14,479
|
|
Security
|
|
Par
(000)
|
Value
|
|
Pharmaceuticals (continued)
|
|||
|
Bausch Health Cos., Inc.(b)
|
|
|
|
|
4.88%, 06/01/28
|
USD
|
4
|
$ 3,580
|
|
11.00%, 09/30/28
|
|
103
|
107,122
|
|
Dolcetto Holdco SpA, 5.63%, 07/14/32(c)
|
EUR
|
102
|
122,777
|
|
Grifols SA, 7.13%, 05/01/30(c)
|
|
234
|
289,392
|
|
Gruenenthal GmbH, 4.63%, 11/15/31(c)
|
|
226
|
270,909
|
|
Nidda Healthcare Holding GmbH(c)
|
|
|
|
|
7.00%, 02/21/30
|
|
277
|
339,019
|
|
(3-mo. EURIBOR + 3.75%), 5.79%, 10/23/30(a)
|
|
100
|
117,615
|
|
Rossini SARL(c)
|
|
|
|
|
6.75%, 12/31/29
|
|
250
|
309,652
|
|
(3-mo. EURIBOR + 3.88%), 5.88%, 12/31/29(a)
|
|
60
|
71,648
|
|
|
|
|
1,851,203
|
|
Real Estate Management & Development — 0.6%
|
|||
|
Adler Financing SARL, Series 1L, (8.25% PIK), 8.25%,
12/31/28(h)
|
|
377
|
471,148
|
|
Aldar Properties PJSC, (5-year CMT + 2.04%), 6.62%,
04/15/55(a)(c)
|
USD
|
250
|
261,875
|
|
Alexandrite Lake Lux Holdings SARL, 6.75%, 07/30/30(c)
|
EUR
|
140
|
168,151
|
|
Alstria Office AG, 5.50%, 03/20/31(c)
|
|
200
|
244,160
|
|
Anywhere Real Estate Group LLC/Anywhere Co-Issuer
Corp., 7.00%, 04/15/30(b)
|
USD
|
39
|
38,672
|
|
Anywhere Real Estate Group LLC/Realogy Co-Issuer
Corp., 9.75%, 04/15/30(b)
|
|
9
|
9,822
|
|
Aroundtown Finance SARL(a)(i)
|
|
|
|
|
(5-year EURIBOR ICE Swap + 4.51%), 7.13%
|
EUR
|
388
|
480,364
|
|
(5-year UK Government Bond + 4.49%), 8.63%
|
GBP
|
100
|
138,496
|
|
Citycon Treasury BV, 5.38%, 07/08/31(c)
|
EUR
|
300
|
354,173
|
|
Cushman & Wakefield U.S. Borrower LLC, 8.88%,
09/01/31(b)
|
USD
|
20
|
21,346
|
|
DEMIRE Deutsche Mittelstand Real Estate AG, 5.00%,
12/31/27(c)(j)
|
EUR
|
88
|
97,265
|
|
Fantasia Holdings Group Co. Ltd.(c)(d)(m)
|
|
|
|
|
11.75%, 04/17/22
|
USD
|
710
|
7,987
|
|
12.25%, 10/18/22
|
|
200
|
4,125
|
|
Five Point Operating Co. LP, 8.00%, 10/01/30(b)
|
|
5
|
5,074
|
|
Grand City Properties SA, (5-year EUR Swap + 2.18%),
1.50%(a)(c)(i)
|
EUR
|
100
|
114,812
|
|
Modern Land China Co. Ltd., (2.00% Cash and 9.00%
PIK), 9.00%, 12/30/26(c)(d)(h)(m)
|
USD
|
—
(n)
|
—
|
|
New Immo Holding SA(c)
|
|
|
|
|
2.75%, 11/26/26
|
EUR
|
100
|
116,038
|
|
3.25%, 07/23/27
|
|
200
|
231,373
|
|
5.88%, 04/17/28
|
|
100
|
121,225
|
|
PCPD Capital Ltd., 5.13%, 06/18/26(c)
|
USD
|
200
|
194,376
|
|
Vivion Investments SARL, (6.50% PIK), 6.50%,
08/31/28(c)(h)
|
EUR
|
148
|
173,574
|
|
Vonovia SE, Series B, 0.88%, 05/20/32(c)(k)
|
|
100
|
117,764
|
|
|
|
|
3,371,820
|
|
Retail REITs — 0.0%
|
|||
|
Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR
Nimbus LLC/GGSI Sellco LLC, 4.50%, 04/01/27(b)
|
USD
|
14
|
13,750
|
|
Semiconductors & Semiconductor Equipment — 0.0%
|
|||
|
Amkor Technology, Inc., 5.88%, 10/01/33(b)
|
|
6
|
6,061
|
|
ams-OSRAM AG, 10.50%, 03/30/29(c)
|
EUR
|
100
|
125,087
|
|
MKS, Inc., 1.25%, 06/01/30(k)
|
USD
|
24
|
26,280
|
|
ON Semiconductor Corp., 0.50%, 03/01/29(k)
|
|
16
|
14,763
|
|
|
|
|
172,191
|
|
Software — 1.4%
|
|||
|
AthenaHealth Group, Inc., 6.50%, 02/15/30(b)
|
|
268
|
265,807
|
|
Security
|
|
Par
(000)
|
Value
|
|
Software (continued)
|
|||
|
Camelot Finance SA, 4.50%, 11/01/26(b)
|
USD
|
2
|
$ 1,993
|
|
Capstone Borrower, Inc., 8.00%, 06/15/30(b)
|
|
69
|
72,160
|
|
Central Parent, Inc./CDK Global, Inc., 7.25%, 06/15/29(b)
|
|
53
|
45,636
|
|
Cloud Software Group, Inc.(b)
|
|
|
|
|
6.50%, 03/31/29
|
|
195
|
196,759
|
|
9.00%, 09/30/29
|
|
257
|
266,562
|
|
8.25%, 06/30/32
|
|
134
|
142,141
|
|
CoreLogic, Inc., 4.50%, 05/01/28(b)
|
|
118
|
114,413
|
|
CoreWeave, Inc., 9.25%, 06/01/30(b)
|
|
17
|
17,557
|
|
Electronic Arts, Inc., 2.95%, 02/15/51
|
|
12
|
10,407
|
|
Ellucian Holdings, Inc., 6.50%, 12/01/29(b)
|
|
49
|
49,780
|
|
Helios Software Holdings, Inc./ION Corporate Solutions
Finance SARL, 7.88%, 05/01/29(c)
|
EUR
|
271
|
332,925
|
|
IPD 3 BV, 5.50%, 06/15/31(c)
|
|
204
|
243,225
|
|
Skillz, Inc., 10.25%, 12/15/26(b)
|
USD
|
2,518
|
2,492,820
|
|
TeamSystem SpA, (3-mo. EURIBOR + 3.50%), 5.53%,
07/31/31(a)(c)
|
EUR
|
100
|
117,746
|
|
UKG, Inc., 6.88%, 02/01/31(b)
|
USD
|
191
|
197,080
|
|
X.AI LLC/X.AI Co. Issuer Corp., 12.50%, 06/30/30
|
|
3,600
|
3,775,313
|
|
|
|
|
8,342,324
|
|
Specialty Retail — 0.1%
|
|||
|
Advance Auto Parts, Inc., 7.00%, 08/01/30(b)
|
|
11
|
11,317
|
|
Afflelou SAS, 6.00%, 07/25/29(c)
|
EUR
|
244
|
298,817
|
|
Bubbles Bidco SpA(c)
|
|
|
|
|
6.50%, 09/30/31
|
|
100
|
120,250
|
|
(3-mo. EURIBOR + 4.25%), 6.25%, 09/30/31(a)
|
|
100
|
118,307
|
|
Duomo Bidco SpA, (3-mo. EURIBOR + 4.13%), 6.15%,
07/15/31(a)(c)
|
|
128
|
151,178
|
|
Goldstory SAS, 6.75%, 02/01/30(c)
|
|
100
|
121,908
|
|
Staples, Inc., 10.75%, 09/01/29(b)
|
USD
|
9
|
8,899
|
|
|
|
|
830,676
|
|
Textiles, Apparel & Luxury Goods — 0.1%
|
|||
|
Beach Acquisition Bidco LLC, 5.25%, 07/15/32(c)
|
EUR
|
100
|
120,350
|
|
European TopSoho SARL, 4.00%, 09/21/21(c)(d)(k)(m)
|
|
300
|
286,049
|
|
PrestigeBidCo GmbH, (3-mo. EURIBOR + 3.75%),
5.78%, 07/01/29(a)(c)
|
|
200
|
236,142
|
|
VF Corp., 4.25%, 03/07/29
|
|
100
|
117,610
|
|
|
|
|
760,151
|
|
Transportation Infrastructure — 0.2%
|
|||
|
Edge Finco PLC, 8.13%, 08/15/31(c)
|
GBP
|
283
|
405,822
|
|
gategroup Finance Luxembourg SA, 3.00%, 02/28/27(c)
|
CHF
|
265
|
329,305
|
|
Mobico Group PLC(c)
|
|
|
|
|
4.88%, 09/26/31
|
EUR
|
135
|
124,768
|
|
(5-year UK Government Bond + 4.14%), 4.25%(a)(i)
|
GBP
|
200
|
164,222
|
|
SGL Group ApS, (3-mo. EURIBOR + 4.75%), 6.75%,
04/22/30(a)
|
EUR
|
100
|
116,369
|
|
|
|
|
1,140,486
|
|
Wireless Telecommunication Services — 1.4%
|
|||
|
Altice France SA
|
|
|
|
|
3.38%, 01/15/28(c)
|
|
326
|
329,157
|
|
5.50%, 01/15/28(b)
|
USD
|
2,100
|
1,848,000
|
|
5.13%, 07/15/29(b)
|
|
1,700
|
1,451,800
|
|
5.50%, 10/15/29(b)
|
|
2,748
|
2,376,845
|
|
Ligado Networks LLC, (15.50% PIK), 15.50%,
11/01/23(b)(d)(h)(m)
|
|
3,725
|
1,219,839
|
|
Odido Holding BV, 3.75%, 01/15/29(c)
|
EUR
|
173
|
201,353
|
|
Security
|
|
Par
(000)
|
Value
|
|
Wireless Telecommunication Services (continued)
|
|||
|
Vmed O2 U.K. Financing I PLC, 5.63%, 04/15/32(c)
|
EUR
|
200
|
$ 240,706
|
|
Zegona Finance PLC, 6.75%, 07/15/29(c)
|
|
313
|
389,412
|
|
|
|
|
8,057,112
|
|
Total Corporate Bonds — 17.8%
(Cost: $104,305,444)
|
105,100,709
|
||
|
Fixed Rate Loan Interests
|
|||
|
Distributors — 0.0%
|
|||
|
TMK Hawk Parent Corp., 2024 PIK Term Loan, 11.00%,
12/15/31(e)
|
USD
|
1
|
—
|
|
Diversified Consumer Services — 0.0%
|
|||
|
Clover Holdings SPV III LLC, 2024 USD Term Loan,
15.00%, 12/09/27
|
|
3
|
2,739
|
|
IT Services — 1.1%
|
|||
|
Clover Holdings 2 LLC, Fixed Term Loan B, 7.75%,
12/09/31
|
|
214
|
215,670
|
|
X Corp., 2025 Fixed Term Loan, 9.50%, 10/26/29
|
|
6,009
|
6,023,181
|
|
|
|
|
6,238,851
|
|
Media — 0.4%
|
|||
|
Terraboost Media, Term Loan, 10.98%, 08/21/26(e)
|
|
2,501
|
2,475,893
|
|
Software — 0.0%
|
|||
|
Cotiviti, Inc., 2024 Fixed Term Loan B, 7.63%, 05/01/31
|
|
50
|
50,141
|
|
Wireless Telecommunication Services — 1.5%
|
|||
|
Ligado Networks LLC
|
|
|
|
|
2025 Fixed DIP Roll-Up Term Loan, 17.50%, 12/31/49
|
|
6,947
|
6,112,550
|
|
2025 New Money DIP Term Loan, 17.50%,
12/31/49(e)
|
|
2,910
|
2,560,726
|
|
|
|
|
8,673,276
|
|
Total Fixed Rate Loan Interests — 3.0%
(Cost: $17,143,589)
|
17,440,900
|
||
|
Floating Rate Loan Interests(a)
|
|||
|
Advertising Agencies — 1.3%
|
|||
|
Clear Channel Outdoor Holdings, Inc., 2024 Term Loan,
(1-mo. CME Term SOFR at 0.00% Floor + 4.11%),
8.28%, 08/23/28
|
|
30
|
30,476
|
|
Outfront Media Capital LLC, 2025 Term Loan B, 0.00%,
09/24/32
|
|
38
|
37,976
|
|
Planet U.S. Buyer LLC, 2024 Term Loan B, (3-mo. CME
Term SOFR + 3.00%), 7.20%, 02/07/31
|
|
22
|
21,914
|
|
Research Now Group, Inc.
|
|
|
|
|
2024 First Lien First Out Term Loan, (3-mo. CME Term
SOFR at 1.00% Floor + 5.26%), 9.46%, 07/15/28
|
|
2,763
|
2,750,887
|
|
2024 First Lien Second Out Term Loan, (3-mo. CME
Term SOFR at 1.00% Floor + 5.76%), 9.96%,
10/15/28
|
|
5,708
|
4,646,954
|
|
Summer BC Holdco B SARL, 2024 USD Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 5.26%),
9.26%, 02/15/29
|
|
14
|
13,674
|
|
|
|
|
7,501,881
|
|
Security
|
|
Par
(000)
|
Value
|
|
Aerospace & Defense — 1.6%
|
|||
|
Aras Corp.(e)
|
|
|
|
|
Revolver, (3-mo. CME Term SOFR at 1.00% Floor +
5.00%), 9.00%, 04/27/27
|
USD
|
438
|
$ 438,478
|
|
Term Loan, (3-mo. CME Term SOFR at 1.00% Floor +
5.00%), 9.00%, 04/13/29
|
|
3,574
|
3,602,917
|
|
Bleriot U.S. Bidco, Inc., 2023 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.50%), 6.50%,
10/31/30
|
|
54
|
54,272
|
|
Cobham Ultra SeniorCo SARL, USD Term Loan B, (6-
mo. CME Term SOFR + 4.18%), 8.37%, 08/03/29
|
|
57
|
56,544
|
|
Dynasty Acquisition Co., Inc.
|
|
|
|
|
2024 1st Lien Term Loan B1, (1-mo. CME Term SOFR
at 0.00% Floor + 2.00%), 6.16%, 10/31/31
|
|
114
|
113,761
|
|
2024 1st Lien Term Loan B2, (1-mo. CME Term SOFR
at 0.00% Floor + 2.00%), 6.16%, 10/31/31
|
|
43
|
43,279
|
|
Engineering Research and Consulting LLC, 2024 Term
Loan, (6-mo. CME Term SOFR at 0.00% Floor +
5.00%), 9.29%, 08/29/31(e)
|
|
4,963
|
4,788,812
|
|
Goat Holdco LLC, 2025 Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 2.75%), 6.91%, 01/27/32
|
|
26
|
25,884
|
|
Kaman Corp.
|
|
|
|
|
2025 Delayed Draw Term Loan, (3-mo. CME Term
SOFR at 0.50% Floor + 2.50%), 6.83%, 02/26/32
|
|
—
(n)
|
283
|
|
2025 Term Loan B, (3-mo. CME Term SOFR at 0.50%
Floor + 2.50%), 6.66%, 02/26/32
|
|
32
|
32,055
|
|
Propulsion BC Finco SARL, 2025 Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 2.75%), 7.04%,
09/14/29
|
|
11
|
10,867
|
|
Skydio, Inc., Term Loan, (1-mo. CME Term SOFR at
0.00% Floor + 2.75%, 2.75% PIK), 9.75%,
12/04/29(e)(h)
|
|
51
|
50,581
|
|
TransDigm, Inc.
|
|
|
|
|
2023 Term Loan J, (3-mo. CME Term SOFR at 0.00%
Floor + 2.50%), 6.50%, 02/28/31
|
|
243
|
242,742
|
|
2024 Term Loan L, (3-mo. CME Term SOFR at 0.00%
Floor + 2.50%), 6.50%, 01/19/32
|
|
87
|
87,060
|
|
2025 Term Loan K, (3-mo. CME Term SOFR at 0.00%
Floor + 2.25%), 6.25%, 03/22/30
|
|
13
|
12,820
|
|
2025 Term Loan M, (1-mo. CME Term SOFR at 0.00%
Floor + 2.50%), 6.66%, 08/19/32
|
|
151
|
150,807
|
|
|
|
|
9,711,162
|
|
Air Freight & Logistics — 0.0%
|
|||
|
Rand Parent LLC, 2025 Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 3.00%), 7.00%, 03/18/30
|
|
62
|
61,203
|
|
Stonepeak Nile Parent LLC, 2025 Term Loan B,
04/09/32(o)
|
|
25
|
24,969
|
|
|
|
|
86,172
|
|
Automobile Components — 0.2%
|
|||
|
Arrow Purchaser, Inc., Revolver, (3-mo. CME Term
SOFR + 6.75%), 11.01%, 04/15/26(e)
|
|
51
|
51,169
|
|
Clarios Global LP
|
|
|
|
|
2024 USD Term Loan B, (1-mo. CME Term SOFR +
2.50%), 6.66%, 05/06/30
|
|
164
|
163,299
|
|
2025 USD Term Loan B, (1-mo. CME Term SOFR at
0.00% Floor + 2.75%), 6.91%, 01/28/32
|
|
79
|
78,976
|
|
Emerald Electronics Manufacturing Services, Term Loan,
(3-mo. CME Term SOFR at 1.00% Floor + 6.40%),
10.60%, 12/29/27(e)
|
|
1,352
|
932,935
|
|
Security
|
|
Par
(000)
|
Value
|
|
Automobile Components (continued)
|
|||
|
Garrett LX I SARL, 2025 USD Term Loan B, (3-mo. CME
Term SOFR at 0.50% Floor + 2.00%), 6.31%,
01/30/32
|
USD
|
5
|
$ 4,963
|
|
RealTruck Group, Inc., 2023 Incremental Term Loan,
(1-mo. CME Term SOFR + 5.11%), 9.28%, 01/31/28
|
|
21
|
19,356
|
|
Tenneco, Inc., 2022 Term Loan B, (3-mo. CME Term
SOFR + 5.10%), 9.30%, 11/17/28
|
|
74
|
72,312
|
|
|
|
|
1,323,010
|
|
Automobiles — 0.1%
|
|||
|
Arrow Purchaser, Inc., Term Loan, (3-mo. CME Term
SOFR at 1.00% Floor + 6.75%), 11.01%, 04/15/26(e)
|
|
833
|
833,331
|
|
Banks — 0.1%
|
|||
|
Security Services Acquisition Sub Corp., 2024 11th
Amendment Term Loan A, (1-mo. CME Term SOFR at
1.00% Floor + 5.75%), 10.01%, 09/30/27(e)
|
|
517
|
512,268
|
|
Beverages — 0.1%
|
|||
|
JP Intermediate B LLC, 2025 Takeback Term Loan A,
11/20/27(d)(m)(o)
|
|
578
|
575,038
|
|
Naked Juice LLC
|
|
|
|
|
2025 FLFO Term Loan, (3-mo. CME Term SOFR at
1.00% Floor + 5.50%), 9.50%, 01/24/29
|
|
103
|
103,411
|
|
2025 FLSO Term Loan, (3-mo. CME Term SOFR at
0.50% Floor + 3.35%), 7.35%, 01/24/29
|
|
39
|
29,713
|
|
2025 FLTO Term Loan, (3-mo. CME Term SOFR at
0.50% Floor + 6.10%), 10.10%, 01/24/30
|
|
27
|
11,081
|
|
Primo Brands Corp., 2025 Term Loan B, (3-mo. CME
Term SOFR at 0.50% Floor + 2.25%), 6.25%,
03/31/28
|
|
43
|
42,609
|
|
Sazerac Co., Inc., Term Loan B, (1-mo. CME Term SOFR
at 0.00% Floor + 2.50%), 6.70%, 07/09/32
|
|
52
|
52,289
|
|
|
|
|
814,141
|
|
Building Products — 2.2%
|
|||
|
AHF Parent Holding, Inc., Term Loan, (3-mo. CME Term
SOFR at 0.75% Floor + 6.25%), 10.51%, 02/01/28
|
|
1,727
|
1,574,865
|
|
Alpine Holding Corp., Term Loan, (3-mo. CME Term
SOFR at 1.00% Floor + 6.00%), 10.00%, 08/01/30(e)
|
|
3,971
|
3,994,585
|
|
Chariot Buyer LLC, 2025 Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 3.00%), 7.16%, 09/08/32
|
|
197
|
196,625
|
|
CP Atlas Buyer, Inc., 2025 Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 5.25%), 9.41%, 07/08/30
|
|
50
|
48,875
|
|
CP Iris Holdco I, Inc., 2021 Term Loan, (1-mo. CME Term
SOFR + 3.50%), 7.66%, 10/02/28
|
|
62
|
62,281
|
|
EMRLD Borrower LP
|
|
|
|
|
2024 Term Loan B, (6-mo. CME Term SOFR at 0.00%
Floor + 2.25%), 6.12%, 08/04/31
|
|
84
|
84,044
|
|
Term Loan B, (3-mo. CME Term SOFR at 0.00% Floor
+ 2.25%), 6.45%, 05/31/30
|
|
149
|
148,465
|
|
Foundation Building Materials, Inc., 2024 Term Loan B2,
(3-mo. CME Term SOFR at 0.00% Floor + 4.00%),
8.31%, 01/29/31
|
|
112
|
112,547
|
|
Gulfside Supply, Inc., Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 3.00%), 7.00%, 06/17/31
|
|
24
|
24,078
|
|
HP PHRG Borrower LLC, 2025 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 4.00%), 8.00%,
02/20/32
|
|
4,988
|
4,968,797
|
|
New AMI I LLC, 2022 Term Loan B, (1-mo. CME Term
SOFR at 0.50% Floor + 6.00%), 10.16%, 03/08/29
|
|
18
|
16,657
|
|
Security
|
|
Par
(000)
|
Value
|
|
Building Products (continued)
|
|||
|
Porcelain Acquisition Corp., Term Loan, (1-mo. CME
Term SOFR at 1.00% Floor + 6.00%), 10.26%,
04/30/27(e)
|
USD
|
1,207
|
$ 878,464
|
|
Potters Borrower LP, 2025 Repriced Term Loan B, (1-mo.
CME Term SOFR at 0.75% Floor + 3.00%), 7.16%,
12/14/27
|
|
23
|
22,708
|
|
Quikrete Holdings, Inc.
|
|
|
|
|
2024 Term Loan B1, (1-mo. CME Term SOFR +
2.25%), 6.41%, 03/19/29
|
|
64
|
64,202
|
|
2025 Term Loan B, (1-mo. CME Term SOFR at 0.00%
Floor + 2.25%), 6.41%, 02/10/32
|
|
35
|
34,801
|
|
2025 Term Loan B1, (1-mo. CME Term SOFR at
0.00% Floor + 2.25%), 6.41%, 04/14/31
|
|
91
|
90,983
|
|
QXO, Inc., Term Loan B, (1-mo. CME Term SOFR at
0.00% Floor + 3.00%), 7.16%, 04/30/32
|
|
23
|
22,839
|
|
Standard Industries, Inc., 2021 Term Loan B, (1-mo.
CME Term SOFR + 1.75%), 5.89%, 09/22/28
|
|
20
|
20,052
|
|
White Cap Supply Holdings LLC, 2024 Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 3.25%),
7.42%, 10/19/29
|
|
195
|
195,001
|
|
Wilsonart LLC, 2024 Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 4.25%), 8.25%, 08/05/31
|
|
154
|
148,224
|
|
Zurn LLC, 2021 Term Loan B, (1-mo. CME Term SOFR +
2.11%), 6.28%, 10/04/28
|
|
20
|
20,384
|
|
|
|
|
12,729,477
|
|
Capital Markets — 1.4%
|
|||
|
Acuren Delaware Holdco, Inc., 2025 Term Loan, (1-mo.
CME Term SOFR at 0.00% Floor + 2.75%), 6.91%,
07/30/31
|
|
20
|
19,965
|
|
Allspring Buyer LLC, 2024 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.75%), 6.75%,
11/01/30
|
|
28
|
28,035
|
|
AqGen Island Holdings, Inc., 2024 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 3.00%), 7.16%,
08/02/28
|
|
93
|
92,749
|
|
Aretec Group, Inc., 2024 1st Lien Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 3.50%), 7.66%,
08/09/30
|
|
30
|
30,470
|
|
Astra Acquisition Corp.
|
|
|
|
|
2021 2nd Lien Term Loan, (Defaulted), 0.00%,
10/25/29(d)(e)(m)
|
|
4,702
|
1
|
|
2024 New Money Term Loan A, (Defaulted), 0.00%,
02/25/28(d)(m)
|
|
1,174
|
230,403
|
|
2024 Term Loan B, (Defaulted), 0.00%, 10/25/28
|
|
3,791
|
9,478
|
|
Citadel Securities LP, 2024 First Lien Term Loan, (1-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 6.16%,
10/31/31
|
|
70
|
69,594
|
|
Edelman Financial Engines Center LLC, 2024 Term
Loan, (1-mo. CME Term SOFR at 0.00% Floor +
3.00%), 7.16%, 04/07/28
|
|
68
|
67,509
|
|
Focus Financial Partners LLC, 2025 Incremental Term
Loan B, (1-mo. CME Term SOFR at 0.00% Floor +
2.75%), 6.91%, 09/15/31
|
|
71
|
71,431
|
|
GC Champion Acquisition LLC, 1st Lien Term Loan, (6-
mo. CME Term SOFR at 1.00% Floor + 5.00%),
9.21%, 08/21/28(e)
|
|
2,999
|
2,974,366
|
|
Gryphon Acquire NewCo LLC, Term Loan B, (6-mo. CME
Term SOFR at 0.00% Floor + 3.00%), 6.88%,
09/13/32
|
|
39
|
39,085
|
|
Security
|
|
Par
(000)
|
Value
|
|
Capital Markets (continued)
|
|||
|
GTCR Everest Borrower LLC, Add on Term Loan B, (3-
mo. CME Term SOFR at 0.00% Floor + 2.75%),
6.75%, 09/05/31
|
USD
|
24
|
$ 23,938
|
|
Guardian U.S. Holdco LLC, 2023 Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 3.50%), 7.50%,
01/31/30
|
|
15
|
14,883
|
|
Jane Street Group LLC, 2024 Term Loan B1, (3-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 6.20%,
12/15/31
|
|
110
|
109,139
|
|
Osaic Holdings, Inc., 2025 Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 3.00%), 7.16%, 07/30/32
|
|
100
|
99,926
|
|
Pico Quantitative Trading Holdings LLC(e)
|
|
|
|
|
2021 Term Loan, (3-mo. CME Term SOFR at 1.50%
Floor + 7.25%), 11.82%, 02/08/27
|
|
404
|
404,055
|
|
2024 10th Amendment Term Loan, (3-mo. CME Term
SOFR at 1.50% Floor + 7.25%), 11.71%, 02/08/27
|
|
3,344
|
3,343,507
|
|
Term Loan, (3-mo. CME Term SOFR at 1.50% Floor +
7.25%), 11.83%, 02/08/27
|
|
439
|
441,095
|
|
Rialto Management Group LLC, 2024 Term Loan, (1-mo.
CME Term SOFR at 0.75% Floor + 5.00%), 9.16%,
12/05/30(e)
|
|
46
|
46,669
|
|
Summit Acquisition, Inc., 2025 Add-on Term Loan, (1-mo.
CME Term SOFR at 0.00% Floor + 3.50%), 7.66%,
10/16/31
|
|
8
|
8,023
|
|
|
|
|
8,124,321
|
|
Chemicals — 0.2%
|
|||
|
Axalta Coating Systems U.S. Holdings, Inc., 2024 Term
Loan B7, (3-mo. CME Term SOFR at 0.50% Floor +
1.75%), 5.75%, 12/20/29
|
|
75
|
75,336
|
|
Chemours Co., 2023 USD Term Loan B, (1-mo. CME
Term SOFR + 3.00%), 7.16%, 08/18/28
|
|
30
|
30,006
|
|
Derby Buyer LLC, 2024 Repriced Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 3.00%), 7.18%,
11/01/30
|
|
76
|
75,813
|
|
Discovery Purchaser Corp., Term Loan, (3-mo. CME
Term SOFR at 0.50% Floor + 3.75%), 8.08%,
10/04/29
|
|
7
|
6,890
|
|
Ecovyst Catalyst Technologies LLC, 2024 Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 2.00%),
6.31%, 06/12/31
|
|
61
|
60,465
|
|
Element Solutions, Inc., 2023 Term Loan B, (1-mo. CME
Term SOFR + 1.75%), 5.91%, 12/18/30
|
|
70
|
70,578
|
|
Fortis 333, Inc., USD Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 3.50%), 7.50%, 03/29/32
|
|
28
|
27,744
|
|
HB Fuller Co., 2025 Term Loan B, (1-mo. CME Term
SOFR at 0.50% Floor + 1.75%), 5.91%, 02/15/30
|
|
45
|
45,336
|
|
INEOS U.S. Finance LLC, 2023 USD Term Loan B, (1-
mo. CME Term SOFR at 0.00% Floor + 3.25%),
7.41%, 02/18/30
|
|
29
|
26,603
|
|
INEOS U.S. Petrochem LLC, 2024 USD Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 4.25%),
8.41%, 10/07/31
|
|
25
|
21,310
|
|
Lonza Group AG, USD Term Loan B, (3-mo. CME Term
SOFR at 0.75% Floor + 4.03%), 8.03%, 07/03/28
|
|
84
|
75,341
|
|
Minerals Technologies, Inc., 2024 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 6.16%,
11/26/31(e)
|
|
60
|
59,550
|
|
Security
|
|
Par
(000)
|
Value
|
|
Chemicals (continued)
|
|||
|
Momentive Performance Materials, Inc., 2023 Term
Loan, (1-mo. CME Term SOFR + 4.00%), 8.16%,
03/29/28
|
USD
|
67
|
$ 67,651
|
|
Nouryon Finance BV, 2024 USD Term Loan B1, (1-mo.
CME Term SOFR at 0.00% Floor + 3.25%), 7.50%,
04/03/28
|
|
58
|
57,668
|
|
Olympus Water U.S. Holding Corp.
|
|
|
|
|
2024 USD Term Loan, (3-mo. CME Term SOFR at
0.50% Floor + 3.00%), 7.00%, 06/20/31
|
|
109
|
107,718
|
|
2025 USD Term Loan B, 0.00%, 07/23/32
|
|
77
|
76,368
|
|
Oxea Holding Drei GmbH, 2017 USD Term Loan B2,
(3-mo. CME Term SOFR at 0.00% Floor + 4.35%),
8.64%, 04/08/31
|
|
73
|
67,080
|
|
Paint Intermediate III LLC, 2024 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 3.00%), 7.24%,
10/09/31
|
|
24
|
23,820
|
|
Qnity Electronics, Inc., Term Loan B, 08/12/32(o)
|
|
82
|
81,898
|
|
Solstice Advanced Materials, Inc., Term Loan B,
09/17/32(o)
|
|
43
|
43,027
|
|
Sparta U.S. HoldCo LLC, 2024 Term Loan B, (1-mo.
CME Term SOFR at 0.75% Floor + 3.00%), 7.28%,
08/02/30
|
|
95
|
93,965
|
|
WR Grace Holdings LLC, 2025 Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 3.00%), 7.00%,
08/19/32
|
|
40
|
40,067
|
|
|
|
|
1,234,234
|
|
Commercial Services & Supplies — 1.5%
|
|||
|
Aggreko Holdings, Inc., 2025 USD Term Loan, (3-mo.
CME Term SOFR at 0.50% Floor + 3.00%), 7.21%,
05/21/31
|
|
97
|
97,459
|
|
AlixPartners LLP, 2025 USD Term Loan, (1-mo. CME
Term SOFR at 0.00% Floor + 2.00%), 6.16%,
08/12/32
|
|
127
|
126,150
|
|
Allied Universal Holdco LLC, 2025 USD Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 3.35%),
7.51%, 08/20/32
|
|
249
|
249,941
|
|
Belron Finance LLC, 2025 Repriced Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 2.50%), 6.74%,
10/16/31
|
|
172
|
173,040
|
|
Bright Horizons Family Solutions LLC, 2025 Term Loan
B, (1-mo. CME Term SOFR at 0.50% Floor + 1.75%),
5.91%, 08/23/32
|
|
62
|
61,890
|
|
Champions Financing, Inc., 2024 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 4.75%), 8.95%,
02/23/29
|
|
8
|
7,463
|
|
CHG Healthcare Services, Inc., 2025 Term Loan B1,
(3-mo. CME Term SOFR at 0.50% Floor + 2.75%),
7.05%, 09/29/28
|
|
55
|
54,965
|
|
Creative Artists Agency LLC, 2025 Repriced Term Loan
B, (1-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.66%, 10/01/31
|
|
163
|
163,549
|
|
Ensemble RCM LLC, 2024 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 3.00%), 7.31%,
08/01/29
|
|
74
|
74,629
|
|
Fusion Holding Corp., Term Loan, (3-mo. CME Term
SOFR at 0.75% Floor + 6.25%), 10.25%, 09/14/29(e)
|
|
225
|
219,653
|
|
Galaxy U.S. Opco, Inc., Term Loan, (3-mo. CME Term
SOFR + 2.00%, 3.75% PIK), 10.06%, 07/31/30(h)
|
|
30
|
26,815
|
|
Security
|
|
Par
(000)
|
Value
|
|
Commercial Services & Supplies (continued)
|
|||
|
Garda World Security Corp., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 3.00%), 7.17%,
02/01/29
|
USD
|
98
|
$ 97,737
|
|
Grant Thornton Advisors LLC, 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.50%), 6.66%,
06/02/31
|
|
23
|
22,480
|
|
Herc Holdings, Inc., Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 2.00%), 6.25%, 06/02/32
|
|
15
|
15,056
|
|
Hertz Corp.
|
|
|
|
|
2021 Term Loan B, (3-mo. CME Term SOFR +
3.76%), 8.07%, 06/30/28
|
|
54
|
48,594
|
|
2021 Term Loan C, (3-mo. CME Term SOFR +
3.76%), 8.07%, 06/30/28
|
|
11
|
9,565
|
|
Kellermeyer Bergensons Services LLC,
2024 Amendment No. 8 Term Loan, (3-mo. CME Term
SOFR at 1.00% Floor + 1.75%, 3.50% PIK), 9.71%,
11/06/28(e)(h)
|
|
374
|
374,420
|
|
KUEHG Corp., 2025 Term Loan, (3-mo. CME Term
SOFR at 0.50% Floor + 2.75%), 6.75%, 06/12/30
|
|
21
|
21,216
|
|
Learning Care Group U.S. No. 2, Inc., 2024 Term Loan
B, (3-mo. CME Term SOFR + 4.00%), 8.29%,
08/11/28(e)
|
|
10
|
9,605
|
|
Mavis Tire Express Services Topco Corp., 2025 Repriced
Term Loan, (3-mo. CME Term SOFR at 0.75% Floor +
3.00%), 7.20%, 05/04/28
|
|
156
|
155,912
|
|
Prime Security Services Borrower LLC
|
|
|
|
|
2024 1st Lien Term Loan B, (6-mo. CME Term SOFR
at 0.00% Floor + 2.00%), 6.13%, 10/13/30
|
|
38
|
38,396
|
|
2025 Incremental Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 1.75%), 6.00%, 03/07/32
|
|
85
|
83,790
|
|
Pueblo Mechanical and Controls LLC(e)
|
|
|
|
|
2022 Delayed Draw Term Loan, (3-mo. CME Term
SOFR at 0.75% Floor + 5.00%), 9.00%, 08/23/28
|
|
488
|
482,426
|
|
2022 Term Loan, (3-mo. CME Term SOFR at 0.75%
Floor + 5.00%), 9.00%, 08/23/28
|
|
703
|
695,486
|
|
Razor Group GmbH(e)
|
|
|
|
|
2025 Tranche Term Loan 2 A, (3-mo. CME Term
SOFR at 2.50% Floor + 5.00%), 9.20%, 12/20/29
|
|
210
|
210,601
|
|
2025 Tranche Term Loan 2 B, (3-mo. CME Term
SOFR at 2.50% Floor + 5.00%), 9.00%, 12/20/29
|
|
93
|
92,684
|
|
Ryan LLC, Term Loan, (1-mo. CME Term SOFR at 0.50%
Floor + 3.50%), 7.66%, 11/14/30
|
|
5
|
4,931
|
|
Thermostat Purchaser III, Inc., 2nd Lien Term Loan, (3-
mo. CME Term SOFR at 0.75% Floor + 7.25%),
11.60%, 08/31/29(e)
|
|
1,388
|
1,387,806
|
|
Thunder Purchaser, Inc., 2024 Incremental Term Loan,
(3-mo. CME Term SOFR at 1.00% Floor + 5.25%),
9.40%, 06/30/28(e)
|
|
386
|
382,467
|
|
Topsail Debtco LLC, Term Loan, (3-mo. CME Term SOFR
at 1.00% Floor + 6.00%), 10.00%, 12/27/30(e)
|
|
97
|
96,427
|
|
TouchTunes Music Group LLC, 2024 Incremental Term
Loan, (3-mo. CME Term SOFR + 4.75%), 8.75%,
04/02/29
|
|
3,563
|
3,503,222
|
|
Security
|
|
Par
(000)
|
Value
|
|
Commercial Services & Supplies (continued)
|
|||
|
Vortex Opco LLC, Second Out Term Loan, (3-mo. CME
Term SOFR at 0.50% Floor + 4.36%), 8.37%,
12/17/28
|
USD
|
44
|
$ 9,642
|
|
Wand NewCo 3, Inc., 2025 Repriced Term Loan B, (1-
mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.66%, 01/30/31
|
|
103
|
102,483
|
|
|
|
|
9,100,500
|
|
Communications Equipment — 0.0%
|
|||
|
Ciena Corp., 2025 Repriced Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.89%,
10/24/30
|
|
72
|
71,713
|
|
ORBCOMM, Inc., Term Loan B, (1-mo. CME Term SOFR
at 0.75% Floor + 4.51%), 8.62%, 09/01/28
|
|
29
|
26,280
|
|
|
|
|
97,993
|
|
Construction & Engineering — 2.5%
|
|||
|
Apple Bidco LLC, 2025 Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 2.50%), 6.66%, 09/23/31
|
|
155
|
154,747
|
|
Brand Industrial Services, Inc., 2024 Term Loan B, (3-
mo. CME Term SOFR at 0.50% Floor + 4.50%),
8.80%, 08/01/30
|
|
123
|
111,649
|
|
Brown Group Holding LLC, 2022 Incremental Term Loan
B2, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%),
6.99%, 07/01/31
|
|
62
|
62,575
|
|
Construction Partners, Inc., Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.50%), 6.66%,
11/03/31
|
|
15
|
14,920
|
|
Cube Industrials Buyer, Inc., 2024 Term Loan, (3-mo.
CME Term SOFR at 0.00% Floor + 3.25%), 7.58%,
10/17/31
|
|
14
|
13,965
|
|
Homerenew Buyer, Inc.(e)
|
|
|
|
|
2025 Super Priority Term Loan, (3-mo. CME Term
SOFR at 2.50% Floor + 9.50%), 13.88%, 04/14/30
|
|
1,436
|
1,436,331
|
|
2025 Super Priority Term Loan 1, (3-mo. CME Term
SOFR at 2.00% Floor + 8.00%), 12.38%, 04/14/30
|
|
329
|
329,470
|
|
2025 Term Loan, (3-mo. CME Term SOFR at 2.50%
Floor + 6.50%), 10.88%, 04/14/30
|
|
758
|
757,639
|
|
Legence Holdings LLC, 2025 Term Loan B, (1-mo. CME
Term SOFR at 0.75% Floor + 3.00%), 7.16%,
12/18/28
|
|
10
|
9,887
|
|
Lighthouse Parent Holdings, Inc.(e)
|
|
|
|
|
Delayed Draw Term Loan, (3-mo. CME Term SOFR at
0.75% Floor + 4.75%), 8.90%, 12/22/31
|
|
11
|
10,608
|
|
Term Loan, (3-mo. CME Term SOFR at 0.75% Floor +
4.75%), 9.07%, 12/22/31
|
|
59
|
58,428
|
|
LJ Avalon Holdings LLC(e)
|
|
|
|
|
2024 1st Amendment Delayed Draw Term Loan, (3-
mo. CME Term SOFR at 1.00% Floor + 4.50%),
8.81%, 02/01/30
|
|
783
|
782,774
|
|
2025 3rd Amendment Delayed Draw Term Loan, (3-
mo. CME Term SOFR at 1.00% Floor + 4.50%),
8.67%, 02/01/30
|
|
83
|
82,787
|
|
Delayed Draw Term Loan, (3-mo. CME Term SOFR at
1.00% Floor + 4.50%), 8.67%, 02/01/30
|
|
108
|
107,677
|
|
Term Loan, (1-mo. CME Term SOFR at 1.00% Floor +
4.50%), 8.77%, 02/01/30
|
|
280
|
279,667
|
|
Security
|
|
Par
(000)
|
Value
|
|
Construction & Engineering (continued)
|
|||
|
Playpower, Inc.(e)
|
|
|
|
|
2024 Term Loan, (3-mo. CME Term SOFR at 0.75%
Floor + 5.25%), 9.25%, 08/28/30
|
USD
|
4,300
|
$ 4,244,100
|
|
2025 Incremental Term Loan, (3-mo. CME Term SOFR
at 0.75% Floor + 5.25%), 9.25%, 08/28/30
|
|
631
|
624,981
|
|
RBS Buyer, Inc., Term Loan, (3-mo. CME Term SOFR at
1.00% Floor + 5.00%), 9.31%, 07/31/31(e)
|
|
2,040
|
2,015,520
|
|
SBA Senior Finance II LLC, 2024 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 1.75%), 5.92%,
01/25/31
|
|
92
|
92,396
|
|
Titan Home Improvement LLC, Term Loan, (3-mo. CME
Term SOFR at 1.00% Floor + 4.75%), 8.95%,
05/31/30(e)
|
|
3,693
|
3,729,954
|
|
|
|
|
14,920,075
|
|
Construction Materials — 0.0%
|
|||
|
Kellermeyer Bergensons Services LLC, 2023 6th
Amendment Term Loan, (Defaulted), 0.00%,
11/06/28(e)
|
|
170
|
88,881
|
|
Consumer Discretionary — 0.1%
|
|||
|
APi Group DE, Inc., 2025 Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 1.75%), 5.91%, 01/03/29
|
|
128
|
128,218
|
|
Camelot U.S. Acquisition LLC, 2024 Term Loan B, (1-mo.
CME Term SOFR + 2.75%), 6.91%, 01/31/31
|
|
41
|
40,417
|
|
Element Materials Technology Group U.S. Holdings, Inc.,
2022 USD Term Loan, (3-mo. CME Term SOFR at
0.50% Floor + 3.68%), 7.68%, 07/06/29
|
|
31
|
31,656
|
|
Fleet U.S. Bidco, Inc., 2024 1st Lien Term Loan B, (6-mo.
CME Term SOFR at 0.00% Floor + 2.50%), 6.54%,
02/21/31(e)
|
|
18
|
17,820
|
|
OMNIA Partners LLC, 2024 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.50%), 6.81%,
07/25/30
|
|
30
|
29,695
|
|
Peer Holding III BV, 2025 USD Term Loan B, 09/27/32(o)
|
|
17
|
17,000
|
|
PG Polaris BidCo SARL, Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 2.75%), 6.91%, 03/26/31
|
|
34
|
33,813
|
|
Raven Acquisition Holdings LLC, Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 3.00%), 7.16%,
11/19/31
|
|
27
|
26,836
|
|
Sellerx, 2024 Revolver, (3-mo. CME Term SOFR at
1.00% Floor + 5.00%), 9.32%, 10/28/26(e)
|
|
78
|
78,206
|
|
Supergoop LLC, Revolver, (1-mo. CME Term SOFR +
5.75%), 9.87%, 12/29/27(e)
|
|
147
|
145,987
|
|
TruGreen LP, 2020 Term Loan, (1-mo. CME Term SOFR
+ 4.10%), 8.26%, 11/02/27
|
|
18
|
17,709
|
|
|
|
|
567,357
|
|
Consumer Finance — 0.2%
|
|||
|
Barri Financial Group LLC, Term Loan, (1-mo. CME Term
SOFR + 8.25%), 12.51%, 12/14/27(e)
|
|
391
|
383,709
|
|
Boost Newco Borrower LLC, 2025 USD Term Loan B2,
(3-mo. CME Term SOFR at 0.00% Floor + 2.00%),
6.00%, 01/31/31
|
|
205
|
205,561
|
|
Citrin Cooperman Advisors LLC, 2025 Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 3.00%),
7.00%, 04/01/32
|
|
39
|
38,725
|
|
Corpay Technologies Operating Co. LLC, Term Loan B5,
(1-mo. CME Term SOFR at 0.00% Floor + 1.75%),
5.91%, 04/28/28
|
|
145
|
144,398
|
|
Security
|
|
Par
(000)
|
Value
|
|
Consumer Finance (continued)
|
|||
|
Shift4 Payments LLC, 2025 Term Loan, (3-mo. CME
Term SOFR at 0.00% Floor + 2.50%), 6.50%,
06/30/32
|
USD
|
36
|
$ 36,255
|
|
Trans Union LLC
|
|
|
|
|
2024 Term Loan B8, (1-mo. CME Term SOFR at
0.00% Floor + 1.75%), 5.91%, 06/24/31
|
|
56
|
56,374
|
|
2024 Term Loan B9, (1-mo. CME Term SOFR at
0.50% Floor + 1.75%), 5.91%, 06/24/31
|
|
132
|
131,788
|
|
WEX, Inc.
|
|
|
|
|
2024 Term Loan B2, (1-mo. CME Term SOFR at
0.00% Floor + 1.75%), 5.91%, 03/31/28
|
|
15
|
14,863
|
|
2025 Incremental Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 1.75%), 5.91%, 03/05/32
|
|
30
|
29,710
|
|
|
|
|
1,041,383
|
|
Consumer Staples Distribution & Retail — 0.0%
|
|||
|
Boots Group Finco LP, USD Term Loan, (3-mo. CME
Term SOFR at 0.00% Floor + 3.50%), 7.70%,
08/30/32
|
|
60
|
60,125
|
|
U.S. Foods, Inc., 2024 1st Lien Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 1.75%), 5.91%,
10/03/31
|
|
28
|
27,948
|
|
|
|
|
88,073
|
|
Containers & Packaging — 0.3%
|
|||
|
Asplundh Tree Expert LLC, 2021 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 1.85%), 6.01%,
09/07/27
|
|
59
|
59,483
|
|
Brook & Whittle Holding Corp., 2025 Term Loan C, (3-
mo. CME Term SOFR at 1.00% Floor + 9.25%),
13.48%, 12/14/29(d)(e)(m)
|
|
3,154
|
1,229,964
|
|
Charter Next Generation, Inc., 2024 Term Loan B1, (1-
mo. CME Term SOFR at 0.75% Floor + 2.75%),
6.93%, 11/29/30
|
|
181
|
181,979
|
|
Clydesdale Acquisition Holdings, Inc.
|
|
|
|
|
2025 Delayed Draw Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 3.25%), 7.41%, 04/01/32
|
|
—
(n)
|
44
|
|
2025 Term Loan B, (1-mo. CME Term SOFR at 0.00%
Floor + 3.25%), 7.41%, 04/01/32
|
|
85
|
84,482
|
|
Term Loan B, (1-mo. CME Term SOFR + 3.18%),
7.34%, 04/13/29
|
|
10
|
9,983
|
|
LABL, Inc., 2021 USD 1st Lien Term Loan, (1-mo. CME
Term SOFR at 0.50% Floor + 5.10%), 9.26%,
10/30/28
|
|
83
|
68,156
|
|
Mauser Packaging Solutions Holding Co., 2024 Term
Loan B, (1-mo. CME Term SOFR + 3.00%), 7.28%,
04/15/27
|
|
45
|
44,747
|
|
Pregis TopCo Corp., 2025 Refinancing Term Loan, (1-
mo. CME Term SOFR at 0.00% Floor + 4.00%),
8.16%, 02/01/29
|
|
37
|
36,797
|
|
Proampac PG Borrower LLC, 2024 Term Loan, (3-mo.
CME Term SOFR + 4.00%), 8.26%, 09/15/28
|
|
9
|
8,997
|
|
Ring Container Technologies Group LLC, 2025 Term
Loan B, (1-mo. CME Term SOFR at 0.50% Floor +
2.50%), 6.66%, 09/15/32
|
|
26
|
25,948
|
|
Trident TPI Holdings, Inc., 2024 Term Loan B7, (3-mo.
CME Term SOFR at 0.50% Floor + 3.75%), 7.75%,
09/15/28
|
|
51
|
50,280
|
|
|
|
|
1,800,860
|
|
Security
|
|
Par
(000)
|
Value
|
|
Distributors — 0.1%
|
|||
|
American Builders & Contractors Supply Co., Inc.,
2024 Term Loan B, (1-mo. CME Term SOFR at 0.00%
Floor + 1.75%), 5.91%, 01/31/31
|
USD
|
74
|
$ 74,111
|
|
Bad Boy Mowers JV Acquisition LLC, 2023 Term Loan,
(1-mo. CME Term SOFR at 0.75% Floor + 5.25%),
9.39%, 11/09/29(e)
|
|
68
|
68,542
|
|
Core & Main LP
|
|
|
|
|
2024 Term Loan D, (1-mo. CME Term SOFR at 0.00%
Floor + 2.00%), 6.17%, 07/27/28
|
|
120
|
120,021
|
|
2024 Term Loan E, (1-mo. CME Term SOFR at 0.00%
Floor + 2.00%), 6.17%, 02/09/31
|
|
35
|
34,369
|
|
Dealer Tire Financial LLC, 2024 1st Lien Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 3.00%),
7.16%, 07/02/31
|
|
64
|
63,975
|
|
Gates Corp./DE, 2024 Term Loan B5, (1-mo. CME Term
SOFR + 1.75%), 5.91%, 06/04/31
|
|
113
|
112,777
|
|
PAI Holdco, Inc., 2020 Term Loan B, (3-mo. CME Term
SOFR + 4.01%), 8.32%, 10/28/27
|
|
23
|
19,024
|
|
Resideo Funding, Inc., 2025 Incremental Term Loan,
(3-mo. CME Term SOFR at 0.00% Floor + 2.00%),
6.04%, 08/13/32
|
|
50
|
49,969
|
|
TMK Hawk Parent Corp., 2024 Term Loan B, (1-mo.
CME Term SOFR at 1.00% Floor + 5.25%, 3.25%
PIK), 12.66%, 06/30/29(h)
|
|
42
|
14,897
|
|
|
|
|
557,685
|
|
Diversified Consumer Services — 1.2%
|
|||
|
Anticimex International AB, 2024 Term Loan B6, (3-mo.
SOFR + 3.40%), 7.76%, 11/16/28
|
|
30
|
29,894
|
|
Express Wash Acquisition Co. LLC, 2025 Term Loan,
(3-mo. CME Term SOFR at 1.00% Floor + 6.25%),
10.58%, 04/10/31(e)
|
|
4,710
|
4,635,058
|
|
Homerenew Buyer, Inc., 2025 SP Delayed Draw Term
Loan, (3-mo. CME Term SOFR + 9.50%), 13.65%,
04/14/30(e)
|
|
433
|
433,257
|
|
Pluralsight, Inc., 2024 Second Priority Term Loan B, (3-
mo. CME Term SOFR at 1.00% Floor + 7.50%),
11.70%, 08/22/29(e)
|
|
708
|
645,505
|
|
Razor Group GmbH, 2025 Tranche Term Loan 3 B,
(Defaulted), 0.00%, 12/20/29(e)
|
|
1,401
|
1,096,257
|
|
TL Voltron Purchaser LLC, Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 5.25%), 9.41%, 12/31/30(e)
|
|
81
|
79,178
|
|
|
|
|
6,919,149
|
|
Diversified Telecommunication Services — 0.1%
|
|||
|
Altice Financing SA, USD 2017 1st Lien Term Loan,
(Prime + 1.75%), 9.00%, 01/31/26(e)
|
|
79
|
75,822
|
|
Lumen Technologies, Inc.
|
|
|
|
|
2024 Extended Term Loan B1, (1-mo. CME Term
SOFR at 2.00% Floor + 2.46%), 6.63%, 04/16/29
|
|
51
|
50,196
|
|
2024 Extended Term Loan B2, (1-mo. CME Term
SOFR at 2.00% Floor + 2.46%), 6.63%, 04/15/30
|
|
66
|
66,041
|
|
2024 Term Loan A, (1-mo. CME Term SOFR + 6.00%),
10.16%, 06/01/28
|
|
10
|
9,931
|
|
Zayo Group Holdings, Inc., 1st Lien Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 3.50%), 7.61%,
03/11/30
|
|
194
|
190,621
|
|
|
|
|
392,611
|
|
Security
|
|
Par
(000)
|
Value
|
|
Electric Utilities — 0.0%
|
|||
|
Constellation Renewables LLC, 2020 Term Loan, (3-mo.
CME Term SOFR at 1.00% Floor + 2.25%), 6.45%,
12/15/27
|
USD
|
19
|
$ 18,891
|
|
Talen Energy Supply LLC, 2024-1 Incremental Term
Loan, (3-mo. CME Term SOFR at 0.00% Floor +
2.50%), 6.73%, 12/15/31
|
|
30
|
29,781
|
|
Vistra Operations Co. LLC, 1st Lien Term Loan B3, (1-
mo. CME Term SOFR + 1.75%), 5.91%, 12/20/30
|
|
59
|
59,393
|
|
|
|
|
108,065
|
|
Electrical Equipment(e) — 0.0%
|
|||
|
Sparkstone Electrical Group
|
|
|
|
|
Revolver, (3-mo. CME Term SOFR + 5.25%), 9.46%,
10/15/31
|
|
2
|
1,860
|
|
Term Loan, (3-mo. CME Term SOFR + 5.25%), 9.44%,
10/15/31
|
|
56
|
51,405
|
|
|
|
|
53,265
|
|
Electronic Equipment, Instruments & Components — 0.0%
|
|||
|
Celestica, Inc., 2024 Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 1.75%), 5.92%, 06/20/31(e)
|
|
20
|
19,849
|
|
Coherent Corp., 2025 1st Lien Term Loan B2, (1-mo.
CME Term SOFR at 0.50% Floor + 1.75%), 5.94%,
07/02/29
|
|
46
|
45,283
|
|
Lsf12 Crown U.S. Commercial Bidco LLC, 2025 Term
Loan B, 12/02/31(o)
|
|
37
|
37,023
|
|
Pinnacle Buyer LLC(o)
|
|
|
|
|
Delayed Draw Term Loan, 09/10/32
|
|
8
|
8,340
|
|
Term Loan, 09/10/32
|
|
43
|
43,367
|
|
Project Aurora U.S. Finco, Inc., USD Term Loan,
09/24/32(e)(o)
|
|
12
|
12,015
|
|
Sanmina Corp., Term Loan B, 08/06/32(e)(o)
|
|
40
|
39,900
|
|
|
|
|
205,777
|
|
Energy Equipment & Services — 0.0%
|
|||
|
Meade Pipeline Co. LLC, Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.00%), 6.00%,
09/22/32
|
|
13
|
12,984
|
|
Entertainment — 0.0%
|
|||
|
Bally’s Corp., 2021 Term Loan B, (3-mo. CME Term
SOFR at 0.50% Floor + 3.51%), 7.84%, 10/02/28
|
|
38
|
36,602
|
|
Delta 2 Lux SARL, 2024 1st Lien Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 2.00%), 6.00%,
09/30/31
|
|
122
|
121,788
|
|
|
|
|
158,390
|
|
Environmental, Maintenance & Security Service — 0.1%
|
|||
|
Action Environmental Group, Inc., 2023 Term Loan B,
(3-mo. CME Term SOFR at 0.50% Floor + 3.25%),
7.25%, 10/24/30(e)
|
|
39
|
38,989
|
|
Clean Harbors, Inc.
|
|
|
|
|
2024 Term Loan B, (1-mo. CME Term SOFR at 0.00%
Floor + 1.75%), 5.91%, 10/09/28
|
|
57
|
56,964
|
|
2025 Term Loan, 09/24/32(o)
|
|
37
|
37,046
|
|
Filtration Group Corp., 2025 USD Term Loan, (1-mo.
CME Term SOFR at 0.50% Floor + 2.75%), 6.91%,
10/21/28
|
|
154
|
154,939
|
|
GFL ES US LLC, 2025 Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 2.50%), 6.67%, 03/03/32
|
|
120
|
119,843
|
|
JFL-Tiger Acquisition Co., Inc., Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 3.75%), 7.89%,
10/17/30
|
|
31
|
30,560
|
|
Security
|
|
Par
(000)
|
Value
|
|
Environmental, Maintenance & Security Service (continued)
|
|||
|
Madison IAQ LLC
|
|
|
|
|
2025 Term Loan B, (6-mo. CME Term SOFR at 0.50%
Floor + 3.25%), 7.45%, 05/06/32
|
USD
|
77
|
$ 77,126
|
|
Term Loan, (6-mo. CME Term SOFR at 0.50% Floor +
2.50%), 6.70%, 06/21/28
|
|
189
|
188,878
|
|
Packers Holdings LLC, 2021 Term Loan, (3-mo. CME
Term SOFR at 0.75% Floor + 3.35%), 7.66%,
03/09/28
|
|
52
|
16,360
|
|
Reworld Holding Corp., 2025 1st Lien Term Loan B,
01/15/31(o)
|
|
19
|
18,941
|
|
|
|
|
739,646
|
|
Financial Services — 5.5%
|
|||
|
1475 Holdings LLC, Term Loan, (1-mo. CME Term SOFR
+ 5.25%), 9.41%, 01/18/30(e)
|
|
79
|
78,431
|
|
Accordion Partners LLC, 2024 Delayed Draw Term Loan,
(3-mo. CME Term SOFR at 0.75% Floor + 5.00%),
9.19%, 11/17/31(e)
|
|
4
|
4,120
|
|
Accuserve Solutions, Inc., 2024 Incremental Term Loan,
(3-mo. CME Term SOFR + 5.25%), 9.48%,
03/15/30(e)
|
|
595
|
575,289
|
|
Apex Group Treasury LLC, 2025 USD Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 3.50%),
7.75%, 02/27/32
|
|
76
|
73,853
|
|
Beekeeper Buyer, Inc., Term Loan, (Prime + 4.25%),
11.50%, 06/30/31(e)
|
|
3,009
|
2,981,984
|
|
CPI Holdco B LLC, 2024 Term Loan, (1-mo. CME Term
SOFR + 2.00%), 6.16%, 05/19/31
|
|
137
|
136,873
|
|
Foreside Financial(e)
|
|
|
|
|
2021 Revolver, (3-mo. CME Term SOFR at 1.00%
Floor + 5.25%), 9.46%, 09/30/27
|
|
12
|
12,203
|
|
2024 Incremental Delayed Draw Term Loan, (3-mo.
CME Term SOFR at 1.00% Floor + 5.25%), 9.40%,
09/30/27
|
|
336
|
338,099
|
|
Incremental Term Loan, (1-mo. CME Term SOFR +
5.25%), 9.60%, 09/30/27
|
|
1,935
|
1,934,646
|
|
GC Champion Acquisition LLC, 1st Lien Delayed Draw
Term Loan, (6-mo. CME Term SOFR at 1.00% Floor +
5.00%), 9.21%, 08/21/28(e)
|
|
47
|
47,120
|
|
GC Waves Holdings, Inc., 2024 Replacing Term Loan,
(1-mo. CME Term SOFR at 0.75% Floor + 4.75%),
9.01%, 10/04/30(e)
|
|
3,848
|
3,848,118
|
|
ION Platform Finance U.S., Inc., USD Term Loan,
09/30/32(e)(o)
|
|
169
|
167,521
|
|
Lucky U.S. Buyerco LLC(e)
|
|
|
|
|
Revolver, (3-mo. CME Term SOFR at 1.00% Floor +
7.50%), 11.51%, 03/29/29
|
|
9
|
9,050
|
|
Term Loan B, (3-mo. CME Term SOFR at 1.00% Floor
+ 7.50%), 11.50%, 03/29/29
|
|
85
|
83,445
|
|
Nxgen Buyer, Inc., 2024 11th Amendment Incremental
Term Loan, (1-mo. CME Term SOFR at 1.00% Floor +
4.75%), 8.91%, 11/01/27(e)
|
|
3,806
|
3,798,405
|
|
Oak Purchaser, Inc., 2024 Delayed Draw Term Loan,
(6-mo. CME Term SOFR at 0.75% Floor + 5.50%),
9.37%, 05/31/28(e)
|
|
64
|
63,611
|
|
Oasis Financial LLC, 2nd Lien Term Loan, (1-mo. CME
Term SOFR at 1.00% Floor + 8.50%), 12.78%,
07/05/26(e)
|
|
833
|
841,667
|
|
Orion U.S. Finco, Inc., 1st Lien Term Loan, 0.00%,
05/20/32
|
|
46
|
46,230
|
|
Security
|
|
Par
(000)
|
Value
|
|
Financial Services (continued)
|
|||
|
PMA Parent Holdings LLC, Term Loan, (3-mo. CME Term
SOFR + 4.75%), 8.75%, 01/31/31(e)
|
USD
|
87
|
$ 86,202
|
|
PREIT Associates LP, 2024 Term Loan, (1-mo. CME
Term SOFR at 0.00% Floor + 7.00%), 11.19%,
04/01/29
|
|
3,596
|
3,686,433
|
|
SitusAMC Holdings Corp., 2025 Incremental Term Loan,
(3-mo. CME Term SOFR at 0.75% Floor + 5.50%),
9.50%, 05/14/31(e)
|
|
4,937
|
4,966,804
|
|
Smarsh, Inc.(e)
|
|
|
|
|
2022 Revolver, (1-mo. CME Term SOFR at 0.75%
Floor + 4.75%), 8.82%, 02/16/29
|
|
27
|
26,667
|
|
2025 Term Loan, (3-mo. CME Term SOFR at 0.75%
Floor + 4.75%), 8.75%, 02/16/29
|
|
1,714
|
1,714,286
|
|
Wealth Enhancement Group LLC(e)
|
|
|
|
|
2021 August Delayed Draw Term Loan, (3-mo. CME
Term SOFR + 4.50%), 8.79%, 10/02/28
|
|
1,167
|
1,161,696
|
|
2024 11th Amendment Delayed Draw Term Loan,
(3-mo. CME Term SOFR at 1.00% Floor + 5.00%),
8.79%, 10/02/28
|
|
3,514
|
3,496,693
|
|
Wharf Street Ratings Acquisition LLC, 2025 Term Loan,
(1-mo. CME Term SOFR at 0.75% Floor + 4.75%),
8.91%, 09/16/32
|
|
2,455
|
2,430,000
|
|
|
|
|
32,609,446
|
|
Food Products — 0.1%
|
|||
|
Aramark Services, Inc., 2024 Term Loan B8, (1-mo. CME
Term SOFR at 0.00% Floor + 2.00%), 6.17%,
06/22/30
|
|
117
|
116,851
|
|
Chobani LLC, 2025 Repriced Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.50%), 6.66%,
10/25/27
|
|
232
|
231,998
|
|
Froneri U.S., Inc.
|
|
|
|
|
2024 USD Term Loan B4, (6-mo. CME Term SOFR at
0.00% Floor + 2.00%), 6.20%, 09/30/31
|
|
158
|
157,106
|
|
2025 USD Term Loan, 08/02/32(o)
|
|
49
|
48,870
|
|
H-Food Holdings LLC, 2025 Exit Term Loan, (3-mo. CME
Term SOFR at 2.00% Floor + 6.50%), 10.81%,
03/29/30
|
|
12
|
11,759
|
|
Nomad Foods U.S. LLC, 2023 Term Loan B5, (6-mo.
CME Term SOFR at 0.50% Floor + 2.50%), 6.54%,
11/12/29
|
|
31
|
31,375
|
|
UTZ Quality Foods LLC, 2025 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.50%), 6.50%,
01/29/32
|
|
94
|
93,769
|
|
Wellness Pet LLC
|
|
|
|
|
2025 First Out Exchange Term Loan, (3-mo. CME
Term SOFR at 0.00% Floor + 3.95%), 7.95%,
12/31/29
|
|
9
|
7,162
|
|
2025 Second Out Exchange Term Loan, (3-mo. CME
Term SOFR at 0.75% Floor + 4.01%), 8.01%,
12/31/29
|
|
5
|
2,170
|
|
|
|
|
701,060
|
|
Ground Transportation — 0.9%
|
|||
|
Genesee & Wyoming, Inc., 2024 Term Loan, (3-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.75%,
04/10/31
|
|
215
|
213,955
|
|
Keep Truckin, Inc.(e)
|
|
|
|
|
2024 Term Loan, (1-mo. CME Term SOFR at 1.00%
Floor + 7.25%), 11.53%, 04/08/27
|
|
500
|
504,000
|
|
Security
|
|
Par
(000)
|
Value
|
|
Ground Transportation (continued)
|
|||
|
Keep Truckin, Inc.(e) (continued)
|
|
|
|
|
Delayed Draw Term Loan, (1-mo. CME Term SOFR at
1.00% Floor + 7.25%), 11.53%, 04/08/27
|
USD
|
988
|
$ 995,998
|
|
Delayed Draw Term Loan 2, (1-mo. CME Term SOFR
at 1.00% Floor + 7.25%), 11.53%, 04/08/27
|
|
1,512
|
1,524,002
|
|
Term Loan, (1-mo. CME Term SOFR at 1.00% Floor +
7.25%), 11.53%, 04/08/27
|
|
2,000
|
2,016,000
|
|
|
|
|
5,253,955
|
|
Health Care Equipment & Supplies — 0.0%
|
|||
|
Avantor Funding, Inc., 2024 Term Loan B6, (1-mo. CME
Term SOFR at 0.50% Floor + 2.10%), 6.26%,
11/08/27
|
|
6
|
5,343
|
|
Bausch & Lomb Corp.
|
|
|
|
|
2023 Incremental Term Loan, (1-mo. CME Term SOFR
at 0.00% Floor + 4.00%), 8.17%, 09/29/28
|
|
39
|
39,151
|
|
2025 Term Loan B, (1-mo. CME Term SOFR at 0.00%
Floor + 4.25%), 8.41%, 01/15/31
|
|
93
|
93,082
|
|
QuidelOrtho Corp., Term Loan, (3-mo. CME Term SOFR
at 0.00% Floor + 4.00%), 8.00%, 08/20/32
|
|
36
|
35,790
|
|
|
|
|
173,366
|
|
Health Care Providers & Services — 3.4%
|
|||
|
AHP Health Partners, Inc., 2025 Term Loan B,
09/20/32(o)
|
|
9
|
8,757
|
|
BW NHHC Holdco, Inc.
|
|
|
|
|
2022 1st Lien Second Out Term Loan, (3-mo. CME
Term SOFR at 2.00% Floor + 5.75%), 9.75%,
01/15/26
|
|
4,429
|
4,102,832
|
|
2022 2nd Lien Third Out Term Loan, (3-mo. CME Term
SOFR + 9.20%), 13.20%, 11/15/26(e)
|
|
2,089
|
208,878
|
|
CareRing Health LLC, Delayed Draw Term Loan, (3-mo.
CME Term SOFR at 0.75% Floor + 6.00%), 10.20%,
05/04/28(e)
|
|
667
|
654,771
|
|
CBI-Gator Acquisition LLC(e)
|
|
|
|
|
Revolver, (3-mo. CME Term SOFR at 1.00% Floor +
6.50%), 10.78%, 10/25/27
|
|
234
|
224,159
|
|
Term Loan, (3-mo. CME Term SOFR + 6.50%),
10.76%, 10/25/27
|
|
2,808
|
2,686,883
|
|
Concentra Health Services, Inc., 2025 Repriced Term
Loan B, (1-mo. CME Term SOFR at 0.00% Floor +
2.00%), 6.16%, 07/26/31
|
|
33
|
32,893
|
|
Examworks Bidco, Inc., 2021 Term Loan, (1-mo. CME
Term SOFR at 0.50% Floor + 2.75%), 6.91%,
11/01/28
|
|
109
|
109,534
|
|
EyeCare Partners LLC
|
|
|
|
|
2024 Second Out Term Loan B, (6-mo. CME Term
SOFR at 0.00% Floor + 1.00%, 3.61% PIK), 8.84%,
11/30/28(h)
|
|
26
|
16,694
|
|
2024 Third Out Term Loan C, (3-mo. CME Term SOFR
at 0.00% Floor + 6.85%), 10.98%, 11/30/28(d)(m)
|
|
7
|
1,415
|
|
ICON Luxembourg SARL, 2024 LUX Term Loan B, (3-
mo. CME Term SOFR at 0.50% Floor + 2.00%),
6.00%, 07/03/28
|
|
25
|
25,188
|
|
Ivyrehab Intermediate II LLC, 2024 2nd Amendment
Tranche A Delayed Draw Term Loan, (3-mo. CME
Term SOFR at 0.75% Floor + 5.25%), 9.51%,
04/23/29(e)
|
|
100
|
99,077
|
|
IvyRehab Intermediate II LLC, 2025 Incremental Delayed
Draw Term Loan, (3-mo. CME Term SOFR at 0.75%
Floor + 5.00%), 9.22%, 04/23/29(e)
|
|
291
|
286,648
|
|
Security
|
|
Par
(000)
|
Value
|
|
Health Care Providers & Services (continued)
|
|||
|
LifePoint Health, Inc., 2024 1st Lien Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 3.75%), 8.07%,
05/19/31
|
USD
|
55
|
$ 54,619
|
|
Medical Solutions Holdings, Inc.
|
|
|
|
|
2021 1st Lien Term Loan, (3-mo. CME Term SOFR at
0.50% Floor + 3.60%), 7.91%, 11/01/28
|
|
—
(n)
|
15
|
|
2021 2nd Lien Term Loan, (3-mo. CME Term SOFR at
0.50% Floor + 7.10%), 11.41%, 11/01/29
|
|
80
|
16,134
|
|
Medline Borrower LP
|
|
|
|
|
2025 Incremental Term Loan B, (1-mo. CME Term
SOFR at 0.50% Floor + 2.00%), 6.16%, 10/23/30
|
|
15
|
14,953
|
|
2025 Term Loan B, (1-mo. CME Term SOFR at 0.50%
Floor + 2.00%), 6.16%, 10/23/28
|
|
369
|
369,520
|
|
Parexel International Corp., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 2.50%), 6.66%,
11/15/28
|
|
120
|
119,921
|
|
Patriot Home Care, Term Loan, (3-mo. CME Term SOFR
at 0.75% Floor + 6.00%), 10.20%, 05/05/28(e)
|
|
2,875
|
2,822,792
|
|
PTSH Intermediate Holdings LLC(e)
|
|
|
|
|
Delayed Draw Term Loan, (3-mo. CME Term SOFR at
0.75% Floor + 5.50%), 9.65%, 12/17/27
|
|
465
|
465,150
|
|
Term Loan, (3-mo. CME Term SOFR at 0.75% Floor +
5.50%), 9.65%, 12/17/27
|
|
2,444
|
2,444,211
|
|
Quorum Health Corp., 2020 Term Loan, (3-mo. CME
Term SOFR at 1.00% Floor + 6.60%), 10.60%,
01/28/28
|
|
3,711
|
2,653,143
|
|
Sotera Health Holdings LLC, 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.50%), 6.66%,
05/30/31
|
|
99
|
99,037
|
|
Star Parent, Inc., Term Loan B, (3-mo. CME Term SOFR
at 0.00% Floor + 4.00%), 8.00%, 09/27/30
|
|
42
|
42,163
|
|
Surgery Center Holdings, Inc., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.50%), 6.66%,
12/19/30
|
|
75
|
75,105
|
|
Team Health Holdings, Inc., 2025 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 4.50%), 8.80%,
06/30/28
|
|
20
|
19,896
|
|
Team Public Choices LLC, Second Lien Term Loan, (3-
mo. CME Term SOFR + 9.00%), 13.57%, 12/18/28(e)
|
|
2,265
|
2,253,309
|
|
|
|
|
19,907,697
|
|
Health Care Technology(e) — 1.7%
|
|||
|
Appriss Health LLC, Term Loan, (1-mo. CME Term SOFR
at 1.00% Floor + 4.75%), 9.02%, 05/06/27
|
|
691
|
697,593
|
|
ESO Solutions, Inc.
|
|
|
|
|
2024 Incremental Term Loan, (3-mo. CME Term SOFR
at 1.00% Floor + 6.75%), 10.95%, 05/03/27
|
|
964
|
959,849
|
|
Revolver, (3-mo. CME Term SOFR at 1.00% Floor +
6.75%), 10.95%, 05/03/27
|
|
304
|
302,466
|
|
Term Loan, (3-mo. CME Term SOFR at 1.00% Floor +
6.75%), 10.95%, 05/03/27
|
|
3,696
|
3,681,534
|
|
MRO Parent Corp., Term Loan, (3-mo. CME Term SOFR
at 0.75% Floor + 4.50%), 8.62%, 06/09/32
|
|
4,259
|
4,225,185
|
|
|
|
|
9,866,627
|
|
Hotel & Resort REITs — 0.0%
|
|||
|
RHP Hotel Properties LP, 2024 1st Lien Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 2.00%),
6.16%, 05/20/30
|
|
32
|
31,938
|
|
Security
|
|
Par
(000)
|
Value
|
|
Hotels, Restaurants & Leisure — 3.7%
|
|||
|
Aimbridge Acquisition Co., Inc.
|
|
|
|
|
2025 1st Lien Second Out Term Loan, (1-mo. CME
Term SOFR at 1.00% Floor + 1.61%, 6.00% PIK),
11.76%, 03/11/30(h)
|
USD
|
10
|
$ 9,878
|
|
2025 First Out Term Loan, (1-mo. CME Term SOFR at
1.00% Floor + 5.61%), 9.76%, 03/11/30
|
|
11
|
10,787
|
|
Alterra Mountain Co., 2025 Term Loan B8, (1-mo. CME
Term SOFR at 0.00% Floor + 2.50%), 6.66%,
05/31/30
|
|
59
|
58,573
|
|
Burger King (Restaurant Brands International Inc.)/New
Red Finance, Inc., 2024 Term Loan B6, (1-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.91%,
09/20/30
|
|
104
|
103,774
|
|
Caesars Entertainment, Inc.
|
|
|
|
|
2024 Term Loan B1, (1-mo. CME Term SOFR +
2.25%), 6.41%, 02/06/31
|
|
205
|
204,382
|
|
Term Loan B, (1-mo. CME Term SOFR + 2.25%),
6.41%, 02/06/30
|
|
27
|
26,804
|
|
EOC Borrower LLC, Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 3.00%), 7.16%, 03/24/32
|
|
169
|
168,493
|
|
Fertitta Entertainment LLC/NV, 2022 Term Loan B, (1-
mo. CME Term SOFR at 0.50% Floor + 3.25%),
7.41%, 01/27/29
|
|
231
|
230,908
|
|
Flutter Financing BV
|
|
|
|
|
2024 Term Loan B, (3-mo. CME Term SOFR at 0.50%
Floor + 1.75%), 5.75%, 11/30/30
|
|
170
|
169,250
|
|
2025 Term Loan B, (3-mo. CME Term SOFR at 0.50%
Floor + 2.00%), 6.00%, 06/04/32
|
|
64
|
63,716
|
|
Four Seasons Hotels Ltd., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 1.75%), 5.91%,
09/22/32
|
|
154
|
153,781
|
|
Great Canadian Gaming Corp., 2024 Term Loan B, (3-
mo. CME Term SOFR at 0.00% Floor + 4.75%),
8.75%, 11/01/29
|
|
41
|
39,466
|
|
Gympass(e)(h)
|
|
|
|
|
2024 2nd Amendment Delayed Draw Term Loan, (1-
mo. CME Term SOFR at 1.50% Floor + 3.25%,
3.25% PIK), 10.78%, 08/29/29
|
|
4,863
|
4,912,125
|
|
Term Loan, (1-mo. CME Term SOFR + 3.25%, 3.25%
PIK), 10.78%, 07/08/27
|
|
283
|
285,411
|
|
Herschend Entertainment Co. LLC, 2025 Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 3.25%),
7.41%, 05/27/32
|
|
46
|
46,009
|
|
Hilton Domestic Operating Co., Inc., 2023 Term Loan B4,
(1-mo. CME Term SOFR + 1.75%), 5.91%, 11/08/30
|
|
97
|
97,341
|
|
IRB Holding Corp., 2024 1st Lien Term Loan B, (1-mo.
CME Term SOFR at 0.75% Floor + 2.50%), 6.66%,
12/15/27
|
|
83
|
83,321
|
|
Light & Wonder International, Inc., 2024 Term Loan B2,
(1-mo. CME Term SOFR at 0.50% Floor + 2.25%),
6.39%, 04/14/29
|
|
101
|
101,243
|
|
Motion Finco SARL, 2024 USD Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 3.50%), 7.50%,
11/12/29
|
|
94
|
84,065
|
|
Ontario Gaming GTA LP, Term Loan B, (3-mo. CME Term
SOFR at 0.50% Floor + 4.25%), 8.24%, 08/01/30
|
|
25
|
24,306
|
|
Oravel Stays Singapore Pte. Ltd., 2025 Term Loan B,
(3-mo. CME Term SOFR at 1.00% Floor + 8.00%),
12.00%, 01/08/30
|
|
5,963
|
6,100,332
|
|
Security
|
|
Par
(000)
|
Value
|
|
Hotels, Restaurants & Leisure (continued)
|
|||
|
Penn Entertainment, Inc., 2022 Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 2.50%), 6.66%,
05/03/29
|
USD
|
91
|
$ 91,273
|
|
Sabre GLBL, Inc.
|
|
|
|
|
2021 Term Loan B1, (1-mo. CME Term SOFR at
0.50% Floor + 3.61%), 7.78%, 12/17/27
|
|
10
|
9,566
|
|
2021 Term Loan B2, (1-mo. CME Term SOFR at
0.50% Floor + 3.61%), 7.78%, 12/17/27
|
|
3
|
3,132
|
|
2022 1st Lien Term Loan B, (1-mo. CME Term SOFR
+ 5.10%), 9.26%, 06/30/28
|
|
1
|
1,209
|
|
2024 Term Loan B1, (1-mo. CME Term SOFR at
0.50% Floor + 6.10%), 10.26%, 11/15/29(e)
|
|
26
|
24,188
|
|
2024 Term Loan B2, (1-mo. CME Term SOFR at
0.50% Floor + 6.10%), 10.26%, 11/15/29(e)
|
|
14
|
13,259
|
|
SeaWorld Parks & Entertainment, Inc., 2024 Term Loan
B3, (1-mo. CME Term SOFR at 0.50% Floor + 2.00%),
6.16%, 12/04/31
|
|
23
|
23,321
|
|
Showtime Acquisition LLC, 2024 1st Lien Term Loan,
(3-mo. CME Term SOFR at 0.00% Floor + 4.75%),
8.94%, 08/16/31(e)
|
|
4,944
|
4,900,624
|
|
Six Flags Entertainment Corp., 2024 Term Loan B, (1-
mo. CME Term SOFR at 0.00% Floor + 2.00%),
6.16%, 05/01/31
|
|
17
|
16,616
|
|
Station Casinos LLC, 2024 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.00%), 6.16%,
03/14/31
|
|
121
|
121,111
|
|
Stonebridge Cos. LLC, Term Loan B, (1-mo. CME Term
SOFR at 0.75% Floor + 5.00%), 9.16%, 05/16/31(e)
|
|
3,250
|
3,211,161
|
|
Turquoise Topco Ltd., Term Loan B, 08/13/32(o)
|
|
40
|
40,025
|
|
Voyager Parent LLC, Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 4.75%), 8.75%, 07/01/32
|
|
60
|
60,082
|
|
Whatabrands LLC, 2024 1st Lien Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 2.50%), 6.66%,
08/03/28
|
|
55
|
54,537
|
|
Wyndham Hotels & Resorts, Inc., 2024 Term Loan, (1-
mo. CME Term SOFR at 0.00% Floor + 1.75%),
5.91%, 05/24/30
|
|
61
|
61,022
|
|
|
|
|
21,605,091
|
|
Household Durables — 0.1%
|
|||
|
AI Aqua Merger Sub, Inc., 2024 1st Lien Term Loan B,
(1-mo. CME Term SOFR at 0.50% Floor + 3.00%),
7.28%, 07/31/28
|
|
114
|
114,207
|
|
Hunter Douglas, Inc., 2025 USD Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 3.25%), 7.25%,
01/20/32
|
|
105
|
104,565
|
|
Somnigroup International, Inc., Term Loan B, (1-mo.
SOFR + 2.25%), 6.37%, 10/24/31
|
|
27
|
27,401
|
|
Springs Windows Fashions LLC
|
|
|
|
|
2024 First Lien Second Out Term Loan A2, (1-mo.
CME Term SOFR at 1.00% Floor + 4.11%), 8.28%,
10/06/28
|
|
27
|
21,846
|
|
2024 FLFO A1 Term Loan, (1-mo. CME Term SOFR at
1.00% Floor + 4.50%), 8.66%, 12/19/29
|
|
11
|
11,124
|
|
Weber-Stephen Products LLC, 2025 Term Loan B,
09/17/32(o)
|
|
75
|
74,156
|
|
|
|
|
353,299
|
|
Security
|
|
Par
(000)
|
Value
|
|
Household Products — 0.0%
|
|||
|
Lavender U.S. HoldCo 1, Inc., USD Term Loan,
09/27/32(e)(o)
|
USD
|
43
|
$ 43,000
|
|
Reynolds Consumer Products LLC, 2025 Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 1.75%),
5.91%, 03/04/32
|
|
13
|
12,954
|
|
|
|
|
55,954
|
|
Independent Power and Renewable Electricity Producers — 0.0%
|
|||
|
Calpine Construction Finance Co. LP, 2023 Refinancing
Term Loan B, (1-mo. CME Term SOFR at 0.00% Floor
+ 2.00%), 6.16%, 07/31/30
|
|
83
|
83,720
|
|
Calpine Corp., 2024 Term Loan B10, (1-mo. CME Term
SOFR at 0.00% Floor + 1.75%), 5.91%, 01/31/31
|
|
37
|
36,821
|
|
NRG Energy, Inc., 2024 Term Loan, (3-mo. CME Term
SOFR at 0.00% Floor + 1.75%), 6.06%, 04/16/31
|
|
164
|
163,721
|
|
|
|
|
284,262
|
|
Industrial Conglomerates — 0.1%
|
|||
|
Nxgen Buyer, Inc., 2025 12th Amendment Incremental
Term Loan, (1-mo. CME Term SOFR at 1.00% Floor +
4.75%), 8.91%, 11/01/27
|
|
274
|
272,570
|
|
Stitch Acquisition Corp., 2024 2nd Out Term Loan, (3-mo.
CME Term SOFR + 7.50%), 11.76%, 12/31/29
|
|
26
|
21,353
|
|
|
|
|
293,923
|
|
Insurance — 1.8%
|
|||
|
Alliant Holdings Intermediate LLC, 2025 Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.67%, 09/19/31
|
|
345
|
344,146
|
|
AmWINS Group, Inc., 2025 Term Loan B, (3-mo. CME
Term SOFR at 0.75% Floor + 2.25%), 6.25%,
01/30/32
|
|
161
|
160,679
|
|
Amynta Agency Borrower, Inc., 2025 Term Loan B, (1-
mo. CME Term SOFR at 0.00% Floor + 2.75%),
6.91%, 12/29/31
|
|
108
|
107,937
|
|
Ardonagh Group Finco Pty. Ltd., 2024 USD Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 2.75%),
6.94%, 02/15/31
|
|
102
|
101,888
|
|
Asurion LLC
|
|
|
|
|
2021 2nd Lien Term Loan B3, (1-mo. CME Term
SOFR + 5.36%), 9.53%, 01/31/28
|
|
76
|
73,910
|
|
2023 Term Loan B11, (1-mo. CME Term SOFR at
0.00% Floor + 4.35%), 8.51%, 08/19/28
|
|
59
|
59,389
|
|
2024 Term Loan B12, (1-mo. CME Term SOFR at
0.00% Floor + 4.25%), 8.41%, 09/19/30
|
|
15
|
14,862
|
|
2025 Term Loan B13, (1-mo. CME Term SOFR at
0.00% Floor + 4.25%), 8.41%, 09/19/30
|
|
126
|
125,432
|
|
Baldwin Insurance Group Holdings LLC, 2025 Term Loan
B2, (3-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.64%, 05/26/31
|
|
48
|
48,194
|
|
Higginbotham Insurance Agency, Inc.(e)
|
|
|
|
|
2024 5th Amendment Term Loan, (1-mo. CME Term
SOFR at 1.00% Floor + 4.50%), 8.67%, 11/24/28
|
|
2,397
|
2,396,561
|
|
2024 Amendment No 4 Delayed Draw Term Loan,
(1-mo. CME Term SOFR at 1.00% Floor + 4.75%),
8.91%, 11/24/28
|
|
1,458
|
1,458,388
|
|
Howden Group Holdings Ltd., 2024 USD Term Loan B,
(1-mo. CME Term SOFR at 0.50% Floor + 3.50%),
7.66%, 04/18/30
|
|
9
|
8,946
|
|
HUB International Ltd., 2025 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.25%), 6.58%,
06/20/30
|
|
211
|
211,400
|
|
Security
|
|
Par
(000)
|
Value
|
|
Insurance (continued)
|
|||
|
Hyperion Refinance SARL, 2025 USD Term Loan B,
(1-mo. CME Term SOFR at 0.50% Floor + 2.75%),
6.91%, 02/15/31
|
USD
|
100
|
$ 99,751
|
|
Integrity Marketing Acquisition LLC, 2024 Term Loan,
(3-mo. CME Term SOFR at 0.75% Floor + 5.00%),
9.20%, 08/25/28(e)
|
|
1,574
|
1,574,158
|
|
IT Parent LLC(e)
|
|
|
|
|
2021 Term Loan, (3-mo. CME Term SOFR at 1.00%
Floor + 5.50%), 9.80%, 10/01/26
|
|
305
|
306,371
|
|
Revolver, (3-mo. CME Term SOFR + 5.50%), 9.91%,
10/01/26
|
|
359
|
358,618
|
|
Term Loan, (3-mo. CME Term SOFR at 1.00% Floor +
5.50%), 9.80%, 10/01/26
|
|
2,391
|
2,403,041
|
|
Jones Deslauriers Insurance Management, Inc.,
2025 Term Loan B, (3-mo. CME Term SOFR at 0.00%
Floor + 2.75%), 7.06%, 03/15/30
|
|
51
|
51,080
|
|
OneDigital Borrower LLC, 2025 Repriced Term Loan,
(1-mo. CME Term SOFR at 0.50% Floor + 3.00%),
7.16%, 07/02/31
|
|
13
|
12,951
|
|
Ryan Specialty LLC, 2024 USD Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 6.16%,
09/15/31
|
|
132
|
131,817
|
|
Sedgwick Claims Management Services, Inc., 2023 Term
Loan B, (1-mo. CME Term SOFR at 0.00% Floor +
2.50%), 6.66%, 07/31/31
|
|
178
|
178,158
|
|
Truist Insurance Holdings LLC
|
|
|
|
|
2024 Term Loan B, (3-mo. CME Term SOFR at 0.00%
Floor + 2.75%), 6.75%, 05/06/31
|
|
205
|
204,173
|
|
2nd Lien Term Loan, (3-mo. CME Term SOFR at
0.00% Floor + 4.75%), 8.75%, 05/06/32
|
|
34
|
34,263
|
|
USI, Inc.
|
|
|
|
|
2024 Term Loan C, (3-mo. CME Term SOFR at 0.00%
Floor + 2.25%), 6.25%, 09/29/30
|
|
91
|
90,583
|
|
2024 Term Loan D, (3-mo. CME Term SOFR at 0.00%
Floor + 2.25%), 6.25%, 11/21/29
|
|
173
|
172,571
|
|
|
|
|
10,729,267
|
|
Interactive Media & Services — 1.7%
|
|||
|
Delivery Hero Finco LLC, 2024 USD Term Loan B, (3-
mo. CME Term SOFR + 5.00%), 9.23%, 12/12/29
|
|
6,029
|
6,089,459
|
|
Kid Distro Holdings LLC(e)
|
|
|
|
|
2023 Incremental Term Loan, (6-mo. CME Term SOFR
at 1.00% Floor + 4.75%), 9.20%, 10/01/27
|
|
354
|
354,251
|
|
Term Loan, (6-mo. CME Term SOFR at 1.00% Floor +
4.75%), 9.20%, 10/01/27
|
|
3,255
|
3,254,550
|
|
MH Sub I LLC
|
|
|
|
|
2023 Term Loan, (3-mo. CME Term SOFR at 0.50%
Floor + 4.25%), 8.25%, 05/03/28
|
|
31
|
29,745
|
|
2024 Term Loan B4, (1-mo. CME Term SOFR at
0.50% Floor + 4.25%), 8.41%, 12/31/31
|
|
30
|
27,191
|
|
Speedster Bidco GmbH, 2024 USD Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 3.25%), 7.24%,
12/10/31
|
|
114
|
114,498
|
|
|
|
|
9,869,694
|
|
Internet Software & Services — 0.6%
|
|||
|
Barracuda Networks, Inc., 2022 Term Loan, (3-mo. CME
Term SOFR at 0.50% Floor + 4.50%), 8.81%,
08/15/29
|
|
56
|
47,208
|
|
CNT Holdings I Corp., 2025 Term Loan, (3-mo. CME
Term SOFR at 0.75% Floor + 2.25%), 6.56%,
11/08/32
|
|
60
|
60,090
|
|
Security
|
|
Par
(000)
|
Value
|
|
Internet Software & Services (continued)
|
|||
|
Gen Digital, Inc.
|
|
|
|
|
2024 Term Loan B, (1-mo. CME Term SOFR +
1.75%), 5.91%, 09/12/29
|
USD
|
157
|
$ 156,209
|
|
2025 Term Loan B, (1-mo. CME Term SOFR at 0.50%
Floor + 1.75%), 5.91%, 04/16/32
|
|
26
|
25,812
|
|
Go Daddy Operating Co. LLC
|
|
|
|
|
2024 Term Loan B7, (1-mo. CME Term SOFR +
1.75%), 5.91%, 05/30/31
|
|
31
|
31,542
|
|
2024 Term Loan B8, (1-mo. CME Term SOFR at
0.00% Floor + 1.75%), 5.91%, 11/09/29
|
|
82
|
81,654
|
|
Proofpoint, Inc.
|
|
|
|
|
2024 Term Loan, (1-mo. CME Term SOFR at 0.50%
Floor + 3.00%), 7.16%, 08/31/28
|
|
152
|
152,174
|
|
2025 Fungible Term Loan, 08/31/28(o)
|
|
16
|
16,042
|
|
StubHub Holdco Sub LLC, 2024 Extended Term Loan B,
(1-mo. CME Term SOFR + 4.75%), 8.91%, 03/15/30
|
|
1,912
|
1,891,932
|
|
Thrasio LLC(e)
|
|
|
|
|
2024 1st Out Take Back Term Loan, (3-mo. CME Term
SOFR + 10.00%), 14.58%, 06/18/29
|
|
438
|
372,133
|
|
2024 2nd Out Take Back Term Loan, (Defaulted),
0.00%, 06/18/29(d)(m)
|
|
1,270
|
955,351
|
|
|
|
|
3,790,147
|
|
IT Services — 6.1%
|
|||
|
Acquia, Inc.(e)
|
|
|
|
|
Revolver, (3-mo. CME Term SOFR at 1.00% Floor +
6.00%), 10.45%, 10/30/26
|
|
36
|
35,951
|
|
Term Loan, (3-mo. CME Term SOFR at 1.00% Floor +
6.00%), 10.43%, 10/30/26
|
|
481
|
480,902
|
|
Amentum Holdings, Inc., 2024 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.25%), 6.41%,
09/29/31
|
|
62
|
61,527
|
|
Applause App Quality, Inc., 2024 7th Amendment
Refinancing Term Loan, (3-mo. CME Term SOFR at
1.50% Floor + 5.75%), 9.76%, 10/24/29(e)
|
|
81
|
80,323
|
|
Arctera U.S. Holdings LLC, 2024 Priority Term Loan,
(3-mo. CME Term SOFR at 2.50% Floor + 8.00%,
4.50% PIK), 12.00%, 12/09/29(h)
|
|
4,297
|
4,336,658
|
|
Avalara, Inc., 2025 Term Loan, 03/26/32(o)
|
|
6
|
5,983
|
|
Aventiv Technologies LLC, 2025 5th Amendment
Incremental Bridge Loan, (3-mo. CME Term SOFR at
1.00% Floor + 10.26%), 14.58%, 03/25/26
|
|
3,000
|
3,135,000
|
|
Bynder Holding BV(e)
|
|
|
|
|
Term Loan Tranche A, (6-mo. CME Term SOFR at
1.00% Floor + 6.00%), 10.14%, 01/26/29
|
|
15
|
15,019
|
|
Term Loan Tranche B, (6-mo. CME Term SOFR at
-5.00% Floor + 6.00%), 10.14%, 01/26/29
|
|
54
|
54,444
|
|
Capstone Borrower, Inc., 2025 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.75%), 6.75%,
06/17/30
|
|
63
|
63,236
|
|
CivicPlus LLC, 2025 Refinancing Term Loan, (3-mo.
CME Term SOFR at 0.75% Floor + 5.50%), 9.70%,
08/23/30(e)
|
|
1,852
|
1,838,315
|
|
Clever Devices Ltd., Revolver, (1-mo. CME Term SOFR
+ 6.00%), 10.16%, 06/12/30(e)
|
|
148
|
147,594
|
|
Clover Holdings 2 LLC, Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 3.75%), 7.94%, 12/09/31
|
|
180
|
180,054
|
|
Dayforce, Inc., 2025 Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 2.00%), 6.31%, 03/01/31(e)
|
|
120
|
119,527
|
|
Security
|
|
Par
(000)
|
Value
|
|
IT Services (continued)
|
|||
|
Docupace Technologies LLC(e)
|
|
|
|
|
Delayed Draw Term Loan B, (3-mo. CME Term SOFR
+ 5.75%), 10.05%, 07/15/30
|
USD
|
54
|
$ 53,080
|
|
PIK Delayed Draw Term Loan, (3-mo. CME Term
SOFR + 5.75%), 9.91%, 07/15/30
|
|
127
|
125,471
|
|
Elastic Path Software, Inc., Term Loan, (3-mo. CME Term
SOFR at 1.00% Floor + 7.50%), 12.04%, 01/05/26(e)
|
|
1,342
|
1,342,496
|
|
Finastra USA, Inc., 2025 1st Lien Term Loan, (3-mo.
CME Term SOFR at 0.00% Floor + 4.00%), 8.04%,
07/30/32
|
|
195
|
194,095
|
|
Fortress Intermediate 3, Inc., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 3.00%), 7.25%,
06/27/31
|
|
29
|
28,854
|
|
G-3 Apollo Acquisition Corp.(e)
|
|
|
|
|
Revolver, (3-mo. CME Term SOFR at 1.00% Floor +
5.00%), 9.12%, 03/10/31
|
|
1
|
950
|
|
Term Loan, (3-mo. CME Term SOFR at 1.00% Floor +
5.00%), 9.07%, 03/10/31
|
|
66
|
66,367
|
|
Honey Intermediate, Inc., Term Loan, (1-mo. CME Term
SOFR + 2.88%, 3.38% PIK), 10.41%, 09/30/31(e)(h)
|
|
91
|
89,842
|
|
Huckabee Acquisition LLC, Term Loan, (3-mo. CME Term
SOFR at 1.00% Floor + 5.25%), 9.31%, 01/16/30(e)
|
|
73
|
73,081
|
|
Integratecom, Inc.(e)
|
|
|
|
|
Delayed Draw Term Loan, (3-mo. CME Term SOFR at
1.00% Floor + 6.75%), 10.90%, 12/15/27
|
|
103
|
99,106
|
|
Revolver, (3-mo. CME Term SOFR at 1.00% Floor +
6.75%), 10.90%, 12/15/27
|
|
134
|
128,699
|
|
Intercept Bidco, Inc., Term Loan, (3-mo. CME Term
SOFR at 1.00% Floor + 6.00%), 10.17%, 06/03/30(e)
|
|
3,611
|
3,567,778
|
|
Lightspeed Solution LLC(e)
|
|
|
|
|
2025 2nd Amendment Incremental Term Loan, (1-mo.
CME Term SOFR + 6.00%), 10.17%, 03/01/28
|
|
92
|
91,183
|
|
Delayed Draw Term Loan, (1-mo. CME Term SOFR at
0.75% Floor + 6.00%), 10.17%, 03/01/28
|
|
28
|
27,337
|
|
LogicMonitor, Inc., 2024 Term Loan, (3-mo. CME Term
SOFR at 0.75% Floor + 5.50%), 9.81%, 11/19/31(e)
|
|
81
|
80,259
|
|
Madison Logic Holdings, Inc., Term Loan, (1-mo. CME
Term SOFR + 7.50%), 11.66%, 12/30/28(e)
|
|
88
|
82,999
|
|
Magenta Security Holdings LLC
|
|
|
|
|
2024 First Out Term Loan, (3-mo. CME Term SOFR at
0.75% Floor + 7.01%), 11.32%, 07/27/28
|
|
19
|
15,250
|
|
2024 Second Out Term Loan, (3-mo. CME Term
SOFR at 0.75% Floor + 7.26%), 11.57%, 07/27/28
|
|
316
|
136,650
|
|
2024 Super Priority Term Loan, (3-mo. CME Term
SOFR at 1.00% Floor + 6.25%), 10.56%, 07/27/28
|
|
9,385
|
9,501,081
|
|
2024 Third Out Term Loan, (Defaulted), 0.00%,
07/27/28(d)(m)
|
|
1,256
|
250,124
|
|
McAfee Corp., 2024 USD 1st Lien Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 3.00%), 7.22%,
03/01/29
|
|
92
|
87,352
|
|
Oak Purchaser, Inc., Revolver, (6-mo. CME Term SOFR
at 0.75% Floor + 5.50%), 14.50%, 05/31/28(e)
|
|
19
|
19,189
|
|
Peraton Corp., Term Loan B, (1-mo. CME Term SOFR at
0.75% Floor + 3.85%), 8.01%, 02/01/28
|
|
89
|
74,564
|
|
Persado, Inc., Term Loan, (1-mo. CME Term SOFR at
1.80% Floor + 7.50%), 11.78%, 06/10/27(e)
|
|
87
|
93,363
|
|
Pluralsight, Inc., 2024 First Priority Term Loan, (3-mo.
CME Term SOFR at 1.00% Floor + 3.00%, 1.50%
PIK), 8.70%, 08/22/29(e)(h)
|
|
423
|
423,346
|
|
Security
|
|
Par
(000)
|
Value
|
|
IT Services (continued)
|
|||
|
Polaris Newco LLC, USD Term Loan B, (3-mo. CME
Term SOFR at 0.50% Floor + 4.26%), 8.57%,
06/02/28
|
USD
|
76
|
$ 73,352
|
|
Project Alpha Intermediate Holding, Inc., 2024 1st Lien
Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor
+ 3.25%), 7.25%, 10/26/30
|
|
43
|
42,843
|
|
Quartz Acquireco LLC, 2025 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.25%), 6.25%,
06/28/30
|
|
72
|
71,624
|
|
Serrano Parent LLC, Term Loan, (6-mo. CME Term
SOFR at 1.00% Floor + 6.50%), 10.71%, 05/13/30(e)
|
|
90
|
87,120
|
|
Skopima Consilio Parent LLC, 2024 Repriced Term Loan,
(1-mo. CME Term SOFR at 0.50% Floor + 3.75%),
7.91%, 05/12/28
|
|
43
|
36,057
|
|
SMX Group LLC, Term Loan, (1-mo. CME Term SOFR at
0.00% Floor + 4.50%), 8.66%, 02/06/32
|
|
2,456
|
2,465,618
|
|
Suited Connector LLC(e)
|
|
|
|
|
Revolver, (3-mo. CME Term SOFR at 1.00% Floor +
6.00%), 10.40%, 12/01/27
|
|
421
|
290,390
|
|
Term Loan, (3-mo. CME Term SOFR + 7.00%),
11.43%, 12/01/27
|
|
2,725
|
1,880,502
|
|
Tempo Acquisition LLC, 2025 Repriced Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 1.75%),
5.91%, 08/31/28
|
|
49
|
47,828
|
|
X Corp., Term Loan, (3-mo. CME Term SOFR at 0.50%
Floor + 6.65%), 10.96%, 10/26/29
|
|
4,134
|
4,051,938
|
|
|
|
|
36,254,321
|
|
Leisure Products — 0.0%
|
|||
|
Bombardier Recreational Products, Inc., 2024 Term Loan
B4, 01/22/31(o)
|
|
26
|
26,016
|
|
City Football Group Ltd., 2024 Term Loan, (1-mo. CME
Term SOFR at 0.50% Floor + 3.61%), 7.70%,
07/22/30
|
|
61
|
60,832
|
|
|
|
|
86,848
|
|
Machinery — 1.2%
|
|||
|
Arcline FM Holdings LLC, 2025 Term Loan, (6-mo. CME
Term SOFR at 0.75% Floor + 3.50%), 7.58%,
06/24/30
|
|
2,540
|
2,537,654
|
|
Chart Industries, Inc., 2024 Term Loan B, (3-mo. CME
Term SOFR + 2.50%), 6.79%, 03/15/30
|
|
22
|
22,680
|
|
Generac Power Systems, Inc., 2024 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 1.75%), 6.03%,
07/03/31
|
|
15
|
14,906
|
|
Husky Injection Molding Systems Ltd., 2024 Term Loan
B, (1-mo. CME Term SOFR at 0.00% Floor + 3.75%),
7.75%, 02/15/29
|
|
221
|
221,305
|
|
Indicor LLC, 2024 USD 1st Lien Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 2.75%), 6.75%,
11/22/29
|
|
36
|
35,930
|
|
Madison Safety & Flow LLC, 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.75%), 6.91%,
09/26/31
|
|
24
|
24,009
|
|
Sonny’s Enterprises LLC(e)
|
|
|
|
|
2023 Restatement Date Term Loan, (3-mo. CME Term
SOFR at 1.00% Floor + 5.50%), 9.89%, 08/05/28
|
|
3,767
|
3,601,313
|
|
2024 1st Amendment Delayed Draw Term Loan, (3-
mo. CME Term SOFR at 1.00% Floor + 5.50%),
9.96%, 08/05/28
|
|
93
|
88,900
|
|
Security
|
|
Par
(000)
|
Value
|
|
Machinery (continued)
|
|||
|
SPX Flow, Inc., 2025 Term Loan, (1-mo. CME Term
SOFR at 0.50% Floor + 2.75%), 6.91%, 04/05/29
|
USD
|
134
|
$ 134,465
|
|
TK Elevator U.S. Newco, Inc., 2025 USD Term Loan B,
(6-mo. CME Term SOFR at 0.50% Floor + 3.00%),
7.20%, 04/30/30
|
|
124
|
124,647
|
|
Vertiv Group Corp., 2025 Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 1.75%), 6.03%, 08/12/32
|
|
191
|
191,091
|
|
WEC U.S. Holdings, Inc., 2024 Term Loan, (1-mo. CME
Term SOFR at 0.00% Floor + 2.25%), 6.53%,
01/27/31
|
|
93
|
93,325
|
|
|
|
|
7,090,225
|
|
Media — 1.2%
|
|||
|
Charter Communications Operating LLC
|
|
|
|
|
2023 Term Loan B4, (3-mo. CME Term SOFR at
0.00% Floor + 2.00%), 6.29%, 12/07/30
|
|
54
|
54,281
|
|
2024 Term Loan B5, (3-mo. CME Term SOFR at
0.00% Floor + 2.25%), 6.54%, 12/15/31
|
|
43
|
42,775
|
|
Crown Finance U.S., Inc., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 4.50%), 8.78%,
12/02/31
|
|
50
|
49,558
|
|
CSC Holdings LLC
|
|
|
|
|
2019 Term Loan B5, (Prime + 1.50%), 8.75%,
04/15/27
|
|
143
|
137,880
|
|
2022 Term Loan B6, (1-mo. CME Term SOFR at
0.00% Floor + 4.50%), 8.65%, 01/18/28
|
|
4,018
|
3,989,356
|
|
DirecTV Financing LLC, Term Loan, (3-mo. CME Term
SOFR at 0.75% Floor + 5.26%), 9.57%, 08/02/27
|
|
6
|
6,213
|
|
DK Crown Holdings, Inc., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 1.75%), 6.00%,
03/04/32
|
|
95
|
94,348
|
|
ECL Entertainment LLC, 2025 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 3.00%), 7.16%,
08/30/30
|
|
32
|
31,526
|
|
Gray Television, Inc., 2024 Term Loan B, (1-mo. CME
Term SOFR + 5.25%), 9.53%, 06/04/29
|
|
—
(n)
|
300
|
|
GVC Holdings Gibraltar Ltd., 2025 Term Loan B5 (2032),
07/31/32(o)
|
|
16
|
15,968
|
|
Learfield Communications LLC, 2024 Term Loan B, (1-
mo. CME Term SOFR at 0.00% Floor + 4.50%),
8.66%, 06/30/28
|
|
41
|
41,106
|
|
Live Nation Entertainment, Inc., Term Loan B4, (1-mo.
CME Term SOFR at 0.00% Floor + 1.85%), 5.99%,
10/19/26
|
|
78
|
78,051
|
|
MSM Acquisitions, Inc.(e)
|
|
|
|
|
2021 Delayed Draw Term Loan, (3-mo. CME Term
SOFR at 1.00% Floor + 6.00%), 10.20%, 12/09/26
|
|
83
|
74,036
|
|
Delayed Draw Term Loan, (3-mo. CME Term SOFR at
1.00% Floor + 6.00%), 10.20%, 12/09/26
|
|
359
|
318,952
|
|
Revolver, (3-mo. CME Term SOFR + 6.00%), 10.20%,
12/09/26
|
|
135
|
120,361
|
|
Term Loan, (3-mo. CME Term SOFR at 1.00% Floor +
6.00%), 10.20%, 12/09/26
|
|
1,088
|
967,340
|
|
NEP Group, Inc.
|
|
|
|
|
2018 1st Lien Term Loan, (1-mo. CME Term SOFR at
0.00% Floor + 3.36%), 7.53%, 08/19/26
|
|
10
|
9,900
|
|
2018 2nd Lien Term Loan, (3-mo. CME Term SOFR at
0.00% Floor + 7.00%), 11.46%, 10/19/26(e)
|
|
141
|
135,542
|
|
Security
|
|
Par
(000)
|
Value
|
|
Media (continued)
|
|||
|
Radiate Holdco LLC, 2025 FLFO Term Loan, (1-mo.
CME Term SOFR at 0.00% Floor + 3.61%, 1.50%
PIK), 9.28%, 09/25/29(h)
|
USD
|
188
|
$ 151,027
|
|
Scientific Games Holdings LP, 2024 USD Term Loan B,
(3-mo. CME Term SOFR at 0.50% Floor + 3.00%),
7.29%, 04/04/29
|
|
36
|
35,398
|
|
Streamland Media Midco LLC
|
|
|
|
|
2025 2nd Amendment First Out Delayed Draw TL,
(3-mo. CME Term SOFR at 1.00% Floor + 5.50%),
9.82%, 04/02/29
|
|
2
|
2,438
|
|
2025 2nd Amendment First Out Term Loan, (3-mo.
CME Term SOFR at 1.00% Floor + 4.50%, 1.00%
PIK), 9.76%, 04/02/29(e)(h)
|
|
31
|
30,503
|
|
2025 2nd Amendment Last Out Term Loan,
(Defaulted), 0.00%, 04/02/29(e)
|
|
27
|
23,301
|
|
2025 Revolver, (3-mo. CME Term SOFR at 1.00%
Floor + 5.50%), 10.00%, 04/02/29(e)
|
|
4
|
4,243
|
|
Telenet Financing USD LLC, 2020 USD Term Loan AR,
04/30/28(o)
|
|
15
|
14,866
|
|
UFC Holdings LLC, 1st Lien Term Loan B5, (3-mo. CME
Term SOFR at 0.00% Floor + 2.00%), 6.04%,
11/21/31
|
|
174
|
174,121
|
|
Virgin Media Bristol LLC, 2020 USD Term Loan Q, (1-mo.
CME Term SOFR + 3.36%), 7.51%, 01/31/29
|
|
78
|
77,925
|
|
WMG Acquisition Corp., 2024 Term Loan J, (3-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.95%,
01/24/31
|
|
165
|
165,602
|
|
Ziggo Financing Partnership, USD Term Loan I, (1-mo.
CME Term SOFR at 0.00% Floor + 2.61%), 6.76%,
04/30/28
|
|
49
|
49,342
|
|
|
|
|
6,896,259
|
|
Metals & Mining — 0.7%
|
|||
|
AZZ, Inc., Term Loan B, (1-mo. CME Term SOFR +
1.75%), 5.91%, 05/13/29
|
|
15
|
14,646
|
|
Covia Holdings LLC, 2025 Repriced Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 2.75%), 6.95%,
02/26/32
|
|
20
|
20,025
|
|
Novelis Holdings, Inc., 2025 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.75%,
03/11/32
|
|
124
|
124,558
|
|
Trulite Holding Corp., Term Loan, (3-mo. CME Term
SOFR + 6.00%), 10.29%, 03/01/30(e)
|
|
4,010
|
3,990,365
|
|
|
|
|
4,149,594
|
|
Mortgage Real Estate Investment Trusts (REITs) — 0.5%
|
|||
|
Greystone Affordable Housing Initiatives LLC, Delayed
Draw Term Loan, (6-mo. CME Term SOFR at 1.25%
Floor + 6.00%), 10.63%, 03/02/26(e)
|
|
2,800
|
2,763,600
|
|
Oil, Gas & Consumable Fuels — 0.1%
|
|||
|
Buckeye Partners LP
|
|
|
|
|
2025 Term Loan B, 09/24/32(o)
|
|
6
|
5,977
|
|
2025 Term Loan B2, (1-mo. CME Term SOFR at
0.00% Floor + 1.75%), 5.91%, 11/22/30
|
|
15
|
14,930
|
|
Colossus Acquireco LLC, Term Loan B, (3-mo. SOFR +
1.75%), 5.87%, 07/30/32
|
|
82
|
81,474
|
|
EG America LLC, 2025 USD Repriced Term Loan, (3-mo.
CME Term SOFR at 0.00% Floor + 3.50%), 7.70%,
02/07/28
|
|
17
|
16,908
|
|
Security
|
|
Par
(000)
|
Value
|
|
Oil, Gas & Consumable Fuels (continued)
|
|||
|
Freeport LNG Investments LLLP, 2025 Term Loan B,
(3-mo. CME Term SOFR at 0.50% Floor + 3.25%),
7.58%, 12/21/28
|
USD
|
103
|
$ 103,401
|
|
GIP Pilot Acquisition Partners LP, 2025 Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 2.00%),
6.29%, 10/04/30
|
|
12
|
11,523
|
|
Hilcorp Energy I LP, Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 2.00%), 6.15%, 02/11/30
|
|
40
|
39,800
|
|
M6 ETX Holdings II Midco LLC, 2025 Term Loan B,
(Prime + 2.00%), 9.25%, 04/01/32
|
|
30
|
29,925
|
|
Murphy USA, Inc., Term Loan B, (1-mo. CME Term
SOFR at 0.50% Floor + 1.75%), 6.03%, 04/07/32
|
|
16
|
16,117
|
|
Oryx Midstream Services Permian Basin LLC, 2025 Term
Loan B, (1-mo. CME Term SOFR at 0.50% Floor +
2.25%), 6.42%, 10/05/28
|
|
129
|
128,985
|
|
Palmdale Oil Co, Inc., Term Loan, (1-mo. CME Term
SOFR at 1.00% Floor + 6.75%), 10.90%, 10/02/29(e)
|
|
98
|
98,250
|
|
Stakeholder Midstream LLC, Term Loan, (3-mo. CME
Term SOFR at 0.00% Floor + 4.00%), 8.04%,
01/01/31
|
|
30
|
29,962
|
|
Whitewater Matterhorn Holdings LLC, 2025 Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 2.25%),
6.25%, 06/16/32
|
|
12
|
11,987
|
|
|
|
|
589,239
|
|
Paper & Forest Products — 0.0%
|
|||
|
FSK Pallet Holding Corp., Term Loan, (3-mo. CME Term
SOFR + 6.50%), 10.98%, 12/23/26(e)
|
|
93
|
93,129
|
|
Passenger Airlines — 0.1%
|
|||
|
AAdvantage Loyalty IP Ltd., 2025 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 3.25%), 7.58%,
05/28/32
|
|
33
|
33,041
|
|
Air Canada, 2024 Term Loan B, (1-mo. CME Term SOFR
at 0.00% Floor + 2.00%), 6.17%, 03/21/31
|
|
75
|
75,503
|
|
American Airlines, Inc.
|
|
|
|
|
Series AA, 2017 1st Lien Term Loan, (6-mo. CME
Term SOFR at 0.00% Floor + 1.85%), 5.98%,
01/29/27
|
|
36
|
36,227
|
|
2023 1st Lien Term Loan, (6-mo. CME Term SOFR at
0.00% Floor + 2.25%), 6.26%, 06/04/29
|
|
63
|
63,171
|
|
2024 1st Lien Term Loan B, (6-mo. CME Term SOFR
at 0.00% Floor + 2.25%), 6.50%, 02/15/28
|
|
58
|
57,516
|
|
2025 Term Loan, (3-mo. CME Term SOFR at 0.00%
Floor + 2.25%), 6.58%, 04/20/28
|
|
44
|
43,530
|
|
JetBlue Airways Corp., 2024 Term Loan B, (3-mo. CME
Term SOFR at 0.50% Floor + 4.75%), 8.75%,
08/27/29
|
|
54
|
51,332
|
|
United Airlines, Inc., 2024 1st Lien Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 6.20%,
02/22/31
|
|
53
|
52,857
|
|
|
|
|
413,177
|
|
Personal Care Products — 0.1%
|
|||
|
ACP Tara Holdings, Inc., 2025 Term Loan B,
09/17/32(e)(o)
|
|
13
|
13,000
|
|
Opal U.S. LLC, USD Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 3.25%), 7.25%, 04/28/32
|
|
90
|
90,180
|
|
Traack Technologies, Inc., Term Loan, (6-mo. CME Term
SOFR + 7.50%), 11.35%, 09/15/26(e)
|
|
400
|
396,700
|
|
|
|
|
499,880
|
|
Security
|
|
Par
(000)
|
Value
|
|
Pharmaceuticals — 0.3%
|
|||
|
Alcami Corp.(e)
|
|
|
|
|
2022 Delayed Draw Term Loan, (1-mo. CME Term
SOFR at 1.00% Floor + 7.00%), 11.24%, 12/21/28
|
USD
|
5
|
$ 5,099
|
|
2022 Term Loan, (3-mo. CME Term SOFR at 1.00%
Floor + 7.00%), 11.35%, 12/21/28
|
|
69
|
69,274
|
|
Amneal Pharmaceuticals LLC, 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 3.50%), 7.66%,
08/01/32
|
|
108
|
107,820
|
|
Elanco Animal Health, Inc., Term Loan B, (1-mo. CME
Term SOFR + 1.85%), 6.13%, 08/01/27
|
|
34
|
34,097
|
|
Endo Finance Holdings, Inc., 2024 1st Lien Term Loan,
04/23/31(o)
|
|
30
|
29,968
|
|
Gainwell Acquisition Corp.
|
|
|
|
|
2nd Lien Term Loan, (3-mo. CME Term SOFR at
1.00% Floor + 8.00%), 12.39%, 10/02/28(e)
|
|
994
|
973,230
|
|
Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor
+ 4.10%), 8.10%, 10/01/27
|
|
36
|
35,895
|
|
Jazz Financing Lux SARL, 2024 1st Lien Term Loan B2,
(1-mo. CME Term SOFR + 2.25%), 6.41%, 05/05/28
|
|
99
|
98,905
|
|
Option Care Health, Inc., 2025 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.89%,
09/16/32
|
|
80
|
79,488
|
|
Organon & Co., 2024 USD Term Loan, (1-mo. CME Term
SOFR at 0.50% Floor + 2.25%), 6.41%, 05/19/31
|
|
24
|
23,163
|
|
Perrigo Investments LLC, 2024 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 6.16%,
04/20/29
|
|
28
|
28,012
|
|
PRA Health Sciences, Inc., 2024 US Term Loan B, (3-
mo. CME Term SOFR at 0.50% Floor + 2.00%),
6.00%, 07/03/28
|
|
6
|
6,324
|
|
Vizient, Inc., 2024 Term Loan B, (1-mo. CME Term SOFR
at 0.50% Floor + 1.75%), 5.91%, 08/01/31
|
|
21
|
20,820
|
|
|
|
|
1,512,095
|
|
Professional Services — 4.8%
|
|||
|
Accordion Partners LLC, 2024 Term Loan, (3-mo. CME
Term SOFR at 0.75% Floor + 5.00%), 9.00%,
11/17/31(e)
|
|
154
|
153,722
|
|
Applause App Quality, Inc., 2024 7th Amendment
Refinancing Revolver, (3-mo. CME Term SOFR at
1.50% Floor + 5.75%), 10.07%, 10/24/29(e)
|
|
2
|
1,606
|
|
Bullhorn, Inc.(e)
|
|
|
|
|
2019 Revolver, (1-mo. CME Term SOFR at 1.00%
Floor + 5.00%), 8.89%, 10/01/29
|
|
37
|
36,037
|
|
2020 Term Loan, (1-mo. CME Term SOFR at 1.00%
Floor + 5.00%), 9.16%, 10/01/29
|
|
4,064
|
4,033,511
|
|
2024 8th Amendment Delayed Draw Term Loan 1,
(1-mo. CME Term SOFR + 5.00%), 9.16%,
10/01/29
|
|
544
|
539,483
|
|
2025 8th Amendment Delayed Draw Term Loan 2,
(1-mo. CME Term SOFR at 1.00% Floor + 5.00%),
9.16%, 10/01/29
|
|
63
|
62,276
|
|
Chronicle Bidco, Inc.(e)
|
|
|
|
|
2025 Delayed Draw Term Loan, (3-mo. CME Term
SOFR at 1.00% Floor + 5.00%), 9.33%, 04/15/31
|
|
133
|
132,870
|
|
2025 Term Loan, (3-mo. CME Term SOFR at 1.00%
Floor + 5.00%), 9.32%, 04/15/31
|
|
5,118
|
5,118,345
|
|
Compsych Investments Corp., 2024 Term Loan, (3-mo.
CME Term SOFR at 0.75% Floor + 4.75%), 9.08%,
07/22/31(e)
|
|
3,283
|
3,316,055
|
|
Deep Blue Operating I LLC, Term Loan, 09/17/32(o)
|
|
14
|
14,000
|
|
Security
|
|
Par
(000)
|
Value
|
|
Professional Services (continued)
|
|||
|
DTI Holdco, Inc., 2025 Term Loan B, (1-mo. CME Term
SOFR at 0.75% Floor + 4.00%), 8.16%, 04/26/29
|
USD
|
4,863
|
$ 4,313,090
|
|
Employ, Inc., Term Loan, (3-mo. CME Term SOFR +
7.50%), 11.73%, 08/07/28(e)
|
|
250
|
246,458
|
|
HSI Halo Acquisition, Inc.(e)
|
|
|
|
|
2024 Delayed Draw Term Loan, (3-mo. CME Term
SOFR at 0.75% Floor + 5.00%), 9.00%, 06/30/31
|
|
206
|
207,532
|
|
2024 Term Loan, (3-mo. CME Term SOFR at 0.75%
Floor + 5.00%), 9.00%, 06/30/31
|
|
2,295
|
2,312,944
|
|
Job & Talent USA, Inc.(e)
|
|
|
|
|
3rd Incremental Term Loan, (1-mo. CME Term SOFR
at 1.00% Floor + 7.00%), 11.16%, 10/15/28
|
|
1,991
|
2,027,150
|
|
Delayed Draw Term Loan, (1-mo. CME Term SOFR at
1.00% Floor + 7.00%), 11.16%, 10/15/28
|
|
498
|
506,788
|
|
Initial Term Loan, (1-mo. CME Term SOFR at 1.00%
Floor + 7.00%), 11.16%, 10/15/28
|
|
1,493
|
1,520,363
|
|
Pueblo Mechanical and Controls LLC, 2022 Revolver,
(3-mo. CME Term SOFR at 0.75% Floor + 5.00%),
9.00%, 08/23/27(e)
|
|
39
|
38,821
|
|
Secretariat Advisors LLC, 2025 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 4.00%), 8.00%,
02/28/32
|
|
1,266
|
1,265,690
|
|
Security Services Acquisition Sub Corp.(e)
|
|
|
|
|
2024 12th Amendment Term Loan A, (1-mo. CME
Term SOFR at 1.00% Floor + 5.75%), 10.01%,
09/30/27
|
|
927
|
918,177
|
|
2024 Term Loan, (1-mo. CME Term SOFR at 1.00%
Floor + 5.75%), 10.01%, 09/30/27
|
|
1,840
|
1,821,450
|
|
Vensure Employer Services, Inc., 2024 Term Loan, (3-
mo. CME Term SOFR at 0.50% Floor + 5.00%),
9.02%, 09/29/31(e)
|
|
91
|
89,699
|
|
|
|
|
28,676,067
|
|
Real Estate Management & Development — 0.5%
|
|||
|
CoreLogic, Inc.
|
|
|
|
|
2nd Lien Term Loan, (1-mo. CME Term SOFR +
6.61%), 10.78%, 06/04/29
|
|
30
|
29,765
|
|
Term Loan, (1-mo. CME Term SOFR at 0.50% Floor +
3.61%), 7.78%, 06/02/28
|
|
93
|
92,877
|
|
Cushman & Wakefield U.S. Borrower LLC, 2025 Term
Loan B3, (1-mo. CME Term SOFR at 0.50% Floor +
2.75%), 6.91%, 01/31/30
|
|
23
|
22,783
|
|
Greystone Affordable Housing Initiatives LLC, 2022 Term
Loan, (1-mo. CME Term SOFR + 6.50%), 10.78%,
03/08/27(e)
|
|
1,636
|
1,626,965
|
|
HowlCo LLC, Term Loan, (3-mo. CME Term SOFR at
1.00% Floor + 3.00%, 3.50% PIK), 10.97%,
10/22/27(e)(h)
|
|
1,162
|
1,145,096
|
|
|
|
|
2,917,486
|
|
Semiconductors & Semiconductor Equipment — 0.1%
|
|||
|
Emerald Technologies U.S. Acquisitionco, Inc., Revolver,
(6-mo. CME Term SOFR + 6.00%), 10.22%,
12/29/26(e)
|
|
411
|
280,760
|
|
Entegris, Inc., 2023 Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 1.75%), 5.79%, 07/06/29
|
|
28
|
28,442
|
|
MKS Instruments, Inc., 2025 USD Repriced Term Loan,
(1-mo. CME Term SOFR at 0.50% Floor + 2.00%),
6.17%, 08/17/29
|
|
113
|
112,413
|
|
|
|
|
421,615
|
|
Security
|
|
Par
(000)
|
Value
|
|
Software — 6.0%
|
|||
|
Alphasense, Inc., 2024 Term Loan, (3-mo. CME Term
SOFR at 2.00% Floor + 6.25%), 10.24%, 06/27/29(e)
|
USD
|
4,167
|
$ 4,150,559
|
|
Applied Systems, Inc., 2024 1st Lien Term Loan, (3-mo.
CME Term SOFR at 0.00% Floor + 2.25%), 6.25%,
02/24/31
|
|
181
|
181,154
|
|
AthenaHealth Group, Inc., 2022 Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 2.75%), 6.91%,
02/15/29
|
|
207
|
206,945
|
|
BCPE Pequod Buyer, Inc., USD Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 3.00%), 7.16%,
11/25/31
|
|
62
|
61,922
|
|
Boxer Parent Co., Inc., 2025 USD Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 3.00%), 7.20%,
07/30/31
|
|
162
|
161,830
|
|
CCC Intelligent Solutions, Inc., Term Loan, (1-mo. CME
Term SOFR + 2.00%), 6.16%, 01/23/32
|
|
153
|
152,517
|
|
Central Parent LLC, 2024 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 3.25%), 7.25%,
07/06/29
|
|
141
|
121,558
|
|
Clearwater Analytics LLC, 2025 Term Loan B, (6-mo.
CME Term SOFR at 0.00% Floor + 2.25%), 6.46%,
04/21/32
|
|
46
|
46,000
|
|
Clever Devices Ltd., Term Loan, (1-mo. CME Term SOFR
at 1.00% Floor + 6.00%), 10.16%, 06/12/30(e)
|
|
2,630
|
2,651,162
|
|
Cloud Software Group, Inc.
|
|
|
|
|
2025 Term Loan B (2031), (3-mo. CME Term SOFR at
0.00% Floor + 3.25%), 7.25%, 03/21/31
|
|
132
|
132,520
|
|
2025 Term Loan B (2032), (3-mo. CME Term SOFR at
0.00% Floor + 3.25%), 7.25%, 08/13/32
|
|
236
|
236,902
|
|
Cloudera, Inc., 2021 Term Loan, (1-mo. CME Term
SOFR at 0.50% Floor + 3.85%), 8.01%, 10/08/28
|
|
35
|
34,200
|
|
Cotiviti, Inc., 2024 Term Loan, (1-mo. CME Term SOFR +
2.75%), 7.03%, 05/01/31
|
|
148
|
145,291
|
|
DNAnexus, Inc.(e)
|
|
|
|
|
2024 Delayed Draw Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 5.25%), 9.39%, 12/18/29
|
|
5
|
4,950
|
|
2024 Term Loan, (1-mo. CME Term SOFR at 0.00%
Floor + 5.25%), 9.39%, 12/18/29
|
|
25
|
24,750
|
|
Docupace Technologies LLC, Term Loan, (3-mo. CME
Term SOFR + 5.75%), 10.05%, 07/15/30(e)
|
|
2,064
|
2,034,750
|
|
DS Admiral Bidco LLC, 2024 Term Loan B, (1-mo. CME
Term SOFR + 4.25%), 8.41%, 06/26/31
|
|
31
|
31,125
|
|
Ellucian Holdings, Inc.
|
|
|
|
|
2024 1st Lien Term Loan B, (1-mo. CME Term SOFR
at 0.50% Floor + 2.75%), 6.91%, 10/09/29
|
|
157
|
156,844
|
|
2024 2nd Lien Term Loan, (1-mo. CME Term SOFR at
0.50% Floor + 4.75%), 8.91%, 11/22/32
|
|
26
|
26,542
|
|
Emburse, Inc., Term Loan, (3-mo. CME Term SOFR at
0.75% Floor + 4.25%), 8.25%, 05/28/32(e)
|
|
3,684
|
3,698,947
|
|
Epicor Software Corp., 2024 Term Loan F, (1-mo. CME
Term SOFR at 0.75% Floor + 2.50%), 6.66%,
05/30/31
|
|
152
|
151,892
|
|
Firstup, Inc.(e)
|
|
|
|
|
Amendment No. 2 Term Loan, (3-mo. CME Term
SOFR + 6.75%), 10.75%, 07/13/27
|
|
430
|
426,607
|
|
Term Loan, (3-mo. CME Term SOFR + 6.75%),
10.75%, 07/13/27
|
|
4,183
|
4,149,227
|
|
Genesys Cloud Services, Inc., 2025 USD Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.66%, 01/30/32
|
|
274
|
272,499
|
|
Security
|
|
Par
(000)
|
Value
|
|
Software (continued)
|
|||
|
Informatica LLC, 2024 Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 2.25%), 6.41%, 10/27/28
|
USD
|
60
|
$ 59,972
|
|
Integratecom, Inc., Term Loan, (3-mo. CME Term SOFR
at 1.00% Floor + 6.75%), 10.90%, 12/15/27(e)
|
|
1,622
|
1,559,373
|
|
Kaseya, Inc., 2025 1st Lien Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 3.25%), 7.41%,
03/20/32
|
|
159
|
159,382
|
|
Lightspeed Solution LLC, Term Loan, (1-mo. CME Term
SOFR at 0.75% Floor + 6.00%), 10.17%, 03/01/28(e)
|
|
417
|
414,479
|
|
Mitchell International, Inc.
|
|
|
|
|
2024 1st Lien Term Loan, (1-mo. CME Term SOFR at
0.50% Floor + 3.25%), 7.41%, 06/17/31
|
|
105
|
104,784
|
|
2024 2nd Lien Term Loan, (1-mo. CME Term SOFR +
5.25%), 9.41%, 06/17/32
|
|
15
|
14,805
|
|
Modena Buyer LLC, Term Loan, (3-mo. CME Term SOFR
at 0.00% Floor + 4.50%), 8.81%, 07/01/31
|
|
30
|
29,346
|
|
Oak Purchaser, Inc.(e)
|
|
|
|
|
2024 Term Loan, (3-mo. CME Term SOFR at 0.75%
Floor + 5.50%), 9.37%, 05/31/28
|
|
262
|
261,926
|
|
Delayed Draw Term Loan, (6-mo. CME Term SOFR at
0.75% Floor + 5.50%), 9.37%, 05/31/28
|
|
1,439
|
1,450,667
|
|
Term Loan, (6-mo. CME Term SOFR at 0.75% Floor +
5.50%), 9.37%, 05/31/28
|
|
2,159
|
2,176,000
|
|
Planview Parent, Inc., 2024 1st Lien Term Loan, (3-mo.
CME Term SOFR at 0.00% Floor + 3.50%), 7.50%,
12/17/27
|
|
18
|
17,516
|
|
Pluralsight, Inc., 2024 Term Loan, (3-mo. CME Term
SOFR at 1.00% Floor + 3.00%, 1.50% PIK), 8.70%,
08/22/29(e)(h)
|
|
227
|
226,724
|
|
PointClickCare Technologies, Inc., 2025 Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 2.75%),
6.75%, 11/03/31
|
|
47
|
46,614
|
|
Project Boost Purchaser LLC, 2025 Refinancing Term
Loan, (3-mo. CME Term SOFR at 0.00% Floor +
2.75%), 7.07%, 07/16/31
|
|
109
|
108,342
|
|
RealPage, Inc., 1st Lien Term Loan, (3-mo. CME Term
SOFR + 3.26%), 7.26%, 04/24/28
|
|
94
|
93,662
|
|
Spartan Bidco Pty. Ltd., Term Loan, (3-mo. CME Term
SOFR at 0.75% Floor + 6.50%), 10.96%, 01/24/28(e)
|
|
2,139
|
2,130,342
|
|
SS&C Technologies, Inc., 2024 Term Loan B8, (1-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 6.16%,
05/09/31
|
|
155
|
155,496
|
|
Thunder Purchaser, Inc.(e)
|
|
|
|
|
2024 Incremental Delayed Draw Term Loan, (3-mo.
CME Term SOFR at 1.00% Floor + 5.25%), 9.40%,
06/30/28
|
|
689
|
682,976
|
|
2024 Refinancing Term Loan, (3-mo. CME Term
SOFR at 1.00% Floor + 5.25%), 9.40%, 06/30/28
|
|
3,049
|
3,024,086
|
|
UKG, Inc., 2024 Term Loan B, (3-mo. CME Term SOFR
at 0.00% Floor + 2.50%), 6.81%, 02/10/31
|
|
196
|
196,028
|
|
VS Buyer LLC, 2025 Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 2.25%), 6.56%, 04/12/31
|
|
180
|
179,923
|
|
Waystar Technologies, Inc.
|
|
|
|
|
2025 Add-on Term Loan B, 10/22/29(o)
|
|
24
|
23,963
|
|
2025 Term Loan B, (1-mo. CME Term SOFR at 0.00%
Floor + 2.00%), 6.16%, 10/22/29
|
|
70
|
69,922
|
|
West Technology Group LLC, 2023 Term Loan B3, (3-
mo. CME Term SOFR + 4.25%), 8.56%, 04/10/27
|
|
996
|
446,111
|
|
X.AI Corp., Term Loan, (6-mo. CME Term SOFR at
0.00% Floor + 7.25%), 11.12%, 06/28/30
|
|
541
|
523,106
|
|
Security
|
|
Par
(000)
|
Value
|
|
Software (continued)
|
|||
|
Zelis Payments Buyer, Inc.
|
|
|
|
|
5th Amendment Term Loan, (1-mo. CME Term SOFR
at 0.00% Floor + 3.25%), 7.41%, 11/26/31
|
USD
|
101
|
$ 101,184
|
|
Term Loan B, (1-mo. CME Term SOFR + 2.75%),
6.91%, 09/28/29
|
|
60
|
59,673
|
|
Zilliant, Inc.(e)(h)
|
|
|
|
|
Delayed Draw Term Loan, (1-mo. CME Term SOFR at
0.75% Floor + 2.00%, 5.00% PIK), 11.26%,
12/21/27
|
|
325
|
311,006
|
|
Term Loan, (1-mo. CME Term SOFR at 0.75% Floor +
2.00%, 5.00% PIK), 11.26%, 12/21/27
|
|
1,775
|
1,698,551
|
|
|
|
|
35,586,652
|
|
Specialty Retail — 2.0%
|
|||
|
Cart.Com, Inc., Term Loan, (1-mo. CME Term SOFR at
1.50% Floor + 7.75%), 11.91%, 05/30/30(e)
|
|
5,000
|
4,980,000
|
|
Hanna Andersson LLC, Term Loan, (3-mo. CME Term
SOFR at 1.00% Floor + 6.25%), 10.66%, 07/02/26(e)
|
|
2,922
|
2,922,500
|
|
LS Group OpCo Acquistion LLC, 2025 Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.70%, 04/23/31
|
|
49
|
48,483
|
|
Restoration Hardware, Inc., Term Loan B, (1-mo. CME
Term SOFR at 0.50% Floor + 2.61%), 6.78%,
10/20/28
|
|
40
|
38,637
|
|
Sellerx(e)
|
|
|
|
|
2025 Revolver, (3-mo. CME Term SOFR + 5.00%),
9.01%, 12/31/28
|
|
1,054
|
1,054,617
|
|
2025 Tranche A1 Term Loan, (3-mo. CME Term SOFR
+ 9.00%), 13.00%, 12/31/28
|
|
736
|
736,058
|
|
2025 Tranche A2 Term Loan, (3-mo. CME Term SOFR
+ 9.00%), 13.00%, 12/31/28
|
|
736
|
735,630
|
|
Supergoop LLC, Term Loan, (1-mo. CME Term SOFR +
5.75%), 10.01%, 12/29/28(e)
|
|
1,155
|
1,144,794
|
|
|
|
|
11,660,719
|
|
Technology Hardware, Storage & Peripherals — 0.7%
|
|||
|
Cubic Corp.
|
|
|
|
|
2025 Second Out Term Loan B, (3-mo. CME Term
SOFR at 0.75% Floor + 4.51%), 8.83%, 05/25/29
|
|
173
|
98,837
|
|
2025 Second Out Term Loan C, (3-mo. CME Term
SOFR at 0.75% Floor + 4.51%), 8.57%, 05/25/29
|
|
24
|
13,646
|
|
SumUp Holdings Luxembourg, 2024 Delayed Draw Term
Loan A, (3-mo. CME Term SOFR + 6.50%), 10.70%,
04/22/31(e)
|
|
4,000
|
4,048,000
|
|
|
|
|
4,160,483
|
|
Textiles, Apparel & Luxury Goods — 1.6%
|
|||
|
ABG Intermediate Holdings 2 LLC
|
|
|
|
|
2024 1st Lien Term Loan B, (1-mo. CME Term SOFR
at 0.00% Floor + 2.25%), 6.41%, 12/21/28
|
|
63
|
63,193
|
|
2025 Delayed Draw Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 2.25%), 6.41%, 02/13/32
|
|
30
|
29,726
|
|
Beach Acquisition Bidco LLC, USD Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 3.25%), 7.31%,
09/12/32
|
|
16
|
16,067
|
|
James Perse Enterprises, Inc.(e)
|
|
|
|
|
Revolver, (3-mo. CME Term SOFR at 1.00% Floor +
6.25%), 10.32%, 09/08/27
|
|
123
|
123,333
|
|
Security
|
|
Par
(000)
|
Value
|
|
Textiles, Apparel & Luxury Goods (continued)
|
|||
|
James Perse Enterprises, Inc.(e) (continued)
|
|
|
|
|
Term Loan, (12-mo. CME Term SOFR at 1.00% Floor
+ 6.25%), 10.31%, 09/08/27
|
USD
|
4,000
|
$ 4,000,000
|
|
WH Borrower LLC, 2025 Term Loan B, (3-mo. CME Term
SOFR at 0.50% Floor + 4.75%), 8.95%, 02/20/32
|
|
4,988
|
4,986,702
|
|
|
|
|
9,219,021
|
|
Transportation Infrastructure — 0.0%
|
|||
|
OLA Netherlands BV, Term Loan, (1-mo. CME Term
SOFR at 0.75% Floor + 6.35%), 10.51%, 12/15/26
|
|
109
|
107,909
|
|
SIRVA Worldwide, Inc., 2024 Term Loan, (3-mo. CME
Term SOFR at 2.00% Floor + 8.00%), 12.20%,
08/20/29
|
|
40
|
15,359
|
|
|
|
|
123,268
|
|
Wireless Telecommunication Services — 2.2%
|
|||
|
Altice France SA, 2023 USD Term Loan B14, (3-mo.
CME Term SOFR at 0.00% Floor + 5.50%), 9.82%,
08/15/28(e)
|
|
3,903
|
3,766,491
|
|
Digicel International Finance Ltd., 2025 Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 5.25%),
9.49%, 08/06/32
|
|
27
|
26,966
|
|
GOGO Intermediate Holdings LLC, Term Loan B, (1-mo.
CME Term SOFR + 3.86%), 8.03%, 04/30/28
|
|
44
|
43,606
|
|
Level 3 Financing, Inc., 2025 Repriced Term Loan B4,
(1-mo. CME Term SOFR at 0.00% Floor + 3.25%),
7.42%, 03/29/32
|
|
174
|
174,000
|
|
Ligado Networks LLC, (e)
|
|
4,714
|
3,927,695
|
|
OpenMarket, Inc., 2025 Refinancing Term Loan, (3-mo.
CME Term SOFR at 0.75% Floor + 5.75%), 9.75%,
06/11/29(e)
|
|
4,900
|
4,849,645
|
|
Windstream Services, LLC, 2025 Term Loan B,
09/24/32(e)(o)
|
|
64
|
63,360
|
|
|
|
|
12,851,763
|
|
Total Floating Rate Loan Interests — 61.1%
(Cost: $375,569,160)
|
361,213,858
|
||
|
Foreign Agency Obligations
|
|||
|
Mongolia — 0.0%
|
|
||
|
Mongolia Government International Bonds, 3.50%,
07/07/27(c)
|
|
200
|
192,300
|
|
Pakistan — 0.1%
|
|
||
|
Pakistan Government International Bonds, 6.00%,
04/08/26(c)
|
|
300
|
298,500
|
|
Sri Lanka — 0.1%
|
|
||
|
Sri Lanka Government International Bonds(b)
|
|
|
|
|
4.00%, 04/15/28
|
|
89
|
85,543
|
|
3.35%, 01/15/30(j)
|
|
94
|
88,421
|
|
3.60%, 03/15/33(j)
|
|
185
|
158,646
|
|
5.10%, 06/15/35(j)
|
|
125
|
91,080
|
|
3.85%, 05/15/36(j)
|
|
87
|
76,555
|
|
3.85%, 02/15/38(j)
|
|
173
|
154,042
|
|
|
|
|
654,287
|
|
Total Foreign Agency Obligations — 0.2%
(Cost: $1,049,876)
|
1,145,087
|
||
|
Security
|
|
Shares
|
Value
|
|
Investment Companies
|
|||
|
Equity Funds — 0.0%
|
|
||
|
Hearthside Equity
|
|
671
|
$ 12,869
|
|
Fixed Income Funds — 0.8%
|
|
||
|
Igloo Parent Holdings LLC(e)
|
|
21
|
1,693,507
|
|
Invesco Senior Loan ETF
|
|
58,600
|
1,226,498
|
|
iShares JP Morgan USD Emerging Markets Bond ETF(p)
|
|
18,476
|
1,758,730
|
|
|
|
|
4,678,735
|
|
Total Investment Companies — 0.8%
(Cost: $5,013,131)
|
4,691,604
|
||
|
|
|
Par
(000)
|
|
|
Municipal Bonds
|
|||
|
California — 0.7%
|
|
||
|
California Infrastructure & Economic Development Bank,
Refunding RB, Series A, Class B, AMT, Sustainability
Bonds, 9.50%, 01/01/65(b)
|
USD
|
4,835
|
4,408,914
|
|
Florida — 0.1%
|
|
||
|
Florida Development Finance Corp., Refunding RB,
AMT, 5.00%, 07/01/41
|
|
500
|
415,171
|
|
Total Municipal Bonds — 0.8%
(Cost: $4,582,576)
|
4,824,085
|
||
|
Preferred Securities
|
|||
|
Capital Trusts — 2.5%
|
|||
|
Automobiles(a)(c)(i) — 0.1%
|
|
||
|
RCI Banque SA, 6.13%
|
EUR
|
200
|
234,693
|
|
Volkswagen International Finance NV, 5.99%
|
|
100
|
121,839
|
|
|
|
|
356,532
|
|
Banks(a)(i) — 1.3%
|
|
||
|
Axis Bank Ltd., 4.10%(c)
|
USD
|
200
|
197,000
|
|
Bank of America Corp.
|
|
|
|
|
6.25%
|
|
40
|
40,511
|
|
6.63%
|
|
90
|
93,644
|
|
Barclays PLC, 8.00%
|
|
4,150
|
4,392,969
|
|
BPER Banca SpA, 6.50%(c)
|
EUR
|
200
|
245,694
|
|
Citigroup, Inc.
|
|
|
|
|
6.88%, 12/31/99
|
USD
|
15
|
15,458
|
|
Series CC, 7.13%
|
|
60
|
61,987
|
|
Series DD, 7.00%
|
|
15
|
15,932
|
|
Series EE, 6.75%
|
|
29
|
29,443
|
|
Series FF, 6.95%
|
|
15
|
15,405
|
|
HDFC Bank Ltd., 3.70%(c)
|
|
200
|
196,400
|
|
HSBC Holdings PLC, 7.05%
|
|
400
|
416,426
|
|
Krung Thai Bank PCL/Cayman Islands, 4.40%(c)
|
|
200
|
198,875
|
|
Mitsubishi UFJ Financial Group, Inc.
|
|
|
|
|
6.35%
|
|
400
|
408,341
|
|
8.20%
|
|
425
|
466,011
|
|
Standard Chartered PLC(c)
|
|
|
|
|
7.63%
|
|
200
|
212,000
|
|
7.88%
|
|
400
|
428,173
|
|
Wells Fargo & Co., 6.85%
|
|
16
|
16,814
|
|
|
|
|
7,451,083
|
|
Security
|
|
Par
(000)
|
Value
|
|
Building Products — 0.1%
|
|
||
|
Nationwide Building Society, 7.50%(a)(c)(i)
|
GBP
|
200
|
$ 275,753
|
|
Diversified Telecommunication Services(a)(c) — 0.1%
|
|
||
|
British Telecommunications PLC
|
|
|
|
|
5.13%, 10/03/54
|
EUR
|
116
|
142,200
|
|
8.38%, 12/20/83
|
GBP
|
107
|
154,412
|
|
Telefonica Europe BV, 6.75%(i)
|
EUR
|
300
|
393,292
|
|
|
|
|
689,904
|
|
Electric Utilities(a) — 0.1%
|
|
||
|
AES Corp., 7.60%, 01/15/55
|
USD
|
19
|
19,681
|
|
CenterPoint Energy, Inc., Series B, 6.85%, 02/15/55
|
|
6
|
6,364
|
|
Dominion Energy, Inc.
|
|
|
|
|
6.63%, 05/15/55
|
|
10
|
10,349
|
|
Series B, 7.00%, 06/01/54
|
|
355
|
384,922
|
|
Electricite de France SA, (c)(g)(i)
|
EUR
|
300
|
349,574
|
|
|
|
|
770,890
|
|
Financial Services(a) — 0.2%
|
|
||
|
Brookfield Finance, Inc., 6.30%, 01/15/55
|
USD
|
45
|
44,616
|
|
Credit Agricole SA, 5.88%(c)(i)
|
EUR
|
100
|
119,277
|
|
Deutsche Bank AG, 7.38%(c)(i)
|
|
200
|
253,069
|
|
Goldman Sachs Group, Inc., 6.85%(i)
|
USD
|
30
|
31,162
|
|
Nomura Holdings, Inc., 7.00%(i)
|
|
200
|
207,019
|
|
Royal Capital BV, 5.00%(c)(i)
|
|
200
|
199,000
|
|
Sumitomo Mitsui Financial Group, Inc., 6.45%(i)
|
|
300
|
306,238
|
|
|
|
|
1,160,381
|
|
Independent Power and Renewable Electricity Producers(a)(b)(i) — 0.0%
|
|
||
|
NRG Energy, Inc., 10.25%
|
|
93
|
101,404
|
|
Vistra Corp., 7.00%
|
|
67
|
68,023
|
|
|
|
|
169,427
|
|
Insurance(c) — 0.2%
|
|
||
|
FWD Group Holdings Ltd.
|
|
|
|
|
5.25%, 09/22/30
|
|
475
|
475,986
|
|
5.84%, 09/22/35
|
|
475
|
480,678
|
|
NN Group NV, 5.75%(a)(i)
|
EUR
|
200
|
237,914
|
|
|
|
|
1,194,578
|
|
Metals & Mining — 0.0%
|
|
||
|
Prysmian SpA, 5.25%(a)(c)(i)
|
|
175
|
214,322
|
|
Multi-Utilities — 0.0%
|
|
||
|
AltaGas Ltd., 7.20%, 10/15/54(a)(b)
|
USD
|
16
|
16,551
|
|
Oil, Gas & Consumable Fuels(a) — 0.1%
|
|
||
|
Eni SpA, 4.50%(c)(i)
|
EUR
|
100
|
119,866
|
|
Sunoco LP, 7.88%(b)(i)
|
USD
|
110
|
111,728
|
|
Var Energi ASA, 7.86%, 11/15/83(c)
|
EUR
|
300
|
390,553
|
|
Venture Global LNG, Inc., 9.00%(b)(i)
|
USD
|
215
|
213,082
|
|
|
|
|
835,229
|
|
Passenger Airlines — 0.0%
|
|
||
|
Air France-KLM, 5.75%(a)(c)(i)
|
EUR
|
100
|
119,803
|
|
Pharmaceuticals — 0.1%
|
|
||
|
Bayer AG, 5.38%, 03/25/82(a)(c)
|
|
400
|
482,556
|
|
Real Estate Management & Development(c)(i) — 0.1%
|
|
||
|
Heimstaden Bostad AB, 2.63%(a)
|
|
116
|
131,067
|
|
NWD Finance BVI Ltd.(d)(m)
|
|
|
|
|
4.13%
|
USD
|
200
|
74,350
|
|
5.25%
|
|
200
|
86,750
|
|
|
|
|
292,167
|
|
Specialty Retail — 0.0%
|
|
||
|
Unibail-Rodamco-Westfield SE, 4.75%(a)(c)(i)
|
EUR
|
200
|
238,510
|
|
Security
|
|
Par
(000)
|
Value
|
|
Transportation Infrastructure — 0.0%
|
|
||
|
La Poste SA, 5.00%(a)(c)(i)
|
EUR
|
100
|
$ 121,929
|
|
Utilities(a)(c)(i) — 0.1%
|
|
||
|
Electricite de France SA, 5.13%
|
|
200
|
242,311
|
|
Veolia Environnement SA, 4.32%
|
|
100
|
117,638
|
|
|
|
|
359,949
|
|
|
14,749,564
|
||
|
|
|
Shares
|
|
|
Preferred Stocks — 1.3%
|
|||
|
Broadline Retail — 0.6%
|
|
||
|
StubHub, Inc., Series K, 12/31/49(d)(e)
|
|
3,000
|
3,538,417
|
|
Construction Materials — 0.0%
|
|
||
|
Kellermeyer Bergensons Services LLC(d)(e)
|
|
45,118
|
—
|
|
Consumer Discretionary — 0.2%
|
|
||
|
Sellerx, Series Z(d)(e)
|
|
4,707,471
|
1,318,092
|
|
Consumer Finance — 0.0%
|
|
||
|
WorldRemit Ltd., Series X, (Acquired 06/24/24, Cost:
$0)(d)(e)(f)
|
|
136
|
15,598
|
|
Ground Transportation — 0.0%
|
|
||
|
Sirva BGRS Holdings, Inc., 07/21/30(d)
|
|
8
|
1,375
|
|
Insurance — 0.0%
|
|
||
|
Alliant Cali, Inc., (Acquired 09/24/24, Cost: $83,725),
12/31/79(e)(f)
|
|
85
|
89,740
|
|
Interactive Media & Services(d)(e)(f) — 0.3%
|
|
||
|
ByteDance Ltd., Series E-1, (Acquired 11/11/20, Cost:
$681,004)
|
|
6,215
|
1,571,587
|
|
Streamland Media Holdings LLC, (Acquired 03/31/25,
Cost: $42,479)
|
|
264
|
—
|
|
|
|
|
1,571,587
|
|
IT Services(d)(e) — 0.0%
|
|
||
|
Veritas Kapital Assurance PLC
|
|
|
|
|
Series G
|
|
219
|
4,982
|
|
Series G-1
|
|
161
|
3,663
|
|
|
|
|
8,645
|
|
Professional Services — 0.2%
|
|
||
|
Job and Talent Holding Ltd., 0.00%(d)(e)(f)
|
|
18,083
|
1,026,299
|
|
Specialty Retail(d)(e) — 0.0%
|
|
||
|
Razor Group & Infinite Commerce, 0.00%
|
|
3,511,744
|
35
|
|
Razor Group GmbH
|
|
|
|
|
, 09/30/28(m)
|
|
3,182,164
|
32
|
|
Common Unit, 09/30/28
|
|
31,821
|
—
|
|
|
|
|
67
|
|
|
7,569,820
|
||
|
Total Preferred Securities — 3.8%
(Cost: $23,097,854)
|
22,319,384
|
||
|
Security
|
|
Shares
|
Value
|
|
Warrants
|
|||
|
Capital Markets — 0.0%
|
|
||
|
Pico Quantitative Trade Holding LLC, (Acquired
02/07/20, Cost: $—), (Issued 02/07/20, Expires
02/07/30) )(d)(e)(f)(q)
|
|
142
|
$ 26,534
|
|
Consumer Finance — 0.0%
|
|
||
|
WorldRemit Ltd., Series D, (Issued/Exercisable 02/11/21,
1,596 Shares for 1 Warrant, Expires 02/11/31, Strike
Price USD 37.59)(d)(e)
|
|
1,596
|
1,332
|
|
Financial Services — 0.0%
|
|
||
|
Service King (Carnelian Point), (Exercisable 01/14/23,
1 Share for 1 Warrant, Expires 06/30/27, Strike Price
USD 10.00)(d)
|
|
129
|
—
|
|
Ground Transportation — 0.0%
|
|
||
|
Motive Technologies, Inc., (Expires 12/31/49)(d)(e)
|
|
75,000
|
70,500
|
|
Interactive Media & Services — 0.0%
|
|
||
|
Research Now, Inc., (Issued 07/15/24, Exercisable
07/15/29, Expires 07/15/29, Strike Price USD
37.72)(d)
|
|
2,857
|
357
|
|
Media — 0.0%
|
|
||
|
Suited Connector LLC, (Issued/Exercisable 03/06/23,
1 Share for 1 Warrant, Expires 03/06/33, Strike Price
USD 33.71)(d)(e)
|
|
20,348
|
—
|
|
Software — 0.0%
|
|
||
|
Grey Orange, (Issued/Exercisable 05/06/22, 1 Share for
1 Warrant, Expires 05/06/32, Strike Price USD
28.93)(d)(e)
|
|
460
|
92
|
|
Specialty Retail(d)(e) — 0.0%
|
|
||
|
Razor Group GmbH, (Issued/Exercisable 03/24/23,
568 Shares for 1 Warrant, Expires 04/28/30, Strike
Price EUR 6,306.84)
|
|
14
|
—
|
|
Razor Group GmbH, (Issued/Exercisable 04/30/21,
1,854 Shares for 1 Warrant, Expires 04/30/28, Strike
Price EUR 911.97)
|
|
46
|
—
|
|
|
|
|
—
|
|
Total Warrants — 0.0%
(Cost: $30)
|
98,815
|
||
|
Total Long-Term Investments — 95.0%
(Cost: $577,636,268)
|
561,472,690
|
||
|
Short-Term Securities
|
|||
|
Money Market Funds — 2.6%
|
|
||
|
BlackRock Liquidity Funds, T-Fund, Institutional Shares,
4.01%(p)(r)
|
|
15,494,966
|
15,494,966
|
|
Total Short-Term Securities — 2.6%
(Cost: $15,494,966)
|
15,494,966
|
||
|
Options Purchased — 0.0%
(Cost: $44,351)
|
88,536
|
||
|
Total Investments — 97.6%
(Cost: $593,175,585)
|
577,056,192
|
||
|
Other Assets Less Liabilities — 2.4%
|
14,358,415
|
||
|
Net Assets — 100.0%
|
$ 591,414,607
|
||
|
(a)
|
Variable rate security. Interest rate resets periodically. The rate shown is the effective
interest rate as of period end. Security description also includes the reference rate
and
spread if published and available.
|
|
(b)
|
Security exempt from registration pursuant to Rule 144A under the Securities Act of
1933,
as amended. These securities may be resold in transactions exempt from registration
to
qualified institutional investors.
|
|
(c)
|
This security may be resold to qualified foreign investors and foreign institutional
buyers
under Regulation S of the Securities Act of 1933.
|
|
(d)
|
Non-income producing security.
|
|
(e)
|
Security is valued using significant unobservable inputs and is classified as Level
3 in the
fair value hierarchy.
|
|
(f)
|
Restricted security as to resale, excluding 144A securities. The Fund held restricted
securities with a current value of $2,746,980, representing 0.5% of its net assets
as of
period end, and an original cost of $3,007,517.
|
|
(g)
|
When-issued security.
|
|
(h)
|
Payment-in-kind security which may pay interest/dividends in additional par/shares
and/or in cash. Rates shown are the current rate and possible payment rates.
|
|
(i)
|
Perpetual security with no stated maturity date.
|
|
(j)
|
Step coupon security. Coupon rate will either increase (step-up bond) or decrease
(step-
down bond) at regular intervals until maturity. Interest rate shown reflects the rate
currently in effect.
|
|
(k)
|
Convertible security.
|
|
(l)
|
Zero-coupon bond.
|
|
(m)
|
Issuer filed for bankruptcy and/or is in default.
|
|
(n)
|
Rounds to less than 1,000.
|
|
(o)
|
Represents an unsettled loan commitment at period end. Certain details associated
with
this purchase are not known prior to the settlement date, including coupon rate.
|
|
(p)
|
Affiliate of the Fund.
|
|
(q)
|
All or a portion of the security is held by a wholly-owned subsidiary.
|
|
(r)
|
Annualized 7-day yield as of period end.
|
|
Affiliated Issuer
|
Value at
12/31/24
|
Purchases
at Cost
|
Proceeds
from Sales
|
Net
Realized
Gain (Loss)
|
Change in
Unrealized
Appreciation
(Depreciation)
|
Value at
09/30/25
|
Shares
Held at
09/30/25
|
Income
|
Capital Gain
Distributions
from
Underlying
Funds
|
|
BlackRock Liquidity Funds, T-Fund, Institutional Shares
|
$ 73,339,862
|
$ —
|
$ (57,844,896
)(a)
|
$ —
|
$ —
|
$ 15,494,966
|
15,494,966
|
$ 732,791
|
$ —
|
|
iShares JP Morgan USD Emerging Markets Bond ETF
|
1,645,104
|
—
|
(1
)
|
—
|
113,627
|
1,758,730
|
18,476
|
59,621
|
—
|
|
|
|
|
|
$ —
|
$ 113,627
|
$ 17,253,696
|
|
$ 792,412
|
$ —
|
|
(a)
|
Represents net amount purchased (sold).
|
|
Description
|
Number of
Contracts
|
Expiration
Date
|
Notional
Amount (000)
|
Value/
Unrealized
Appreciation
(Depreciation)
|
|
Long Contracts
|
|
|
|
|
|
10-Year U.S. Ultra Long Treasury Note
|
18
|
12/19/25
|
$ 2,071
|
$ 17,874
|
|
U.S. Long Bond
|
8
|
12/19/25
|
933
|
23,673
|
|
2-Year U.S. Treasury Note
|
39
|
12/31/25
|
8,126
|
13,931
|
|
5-Year U.S. Treasury Note
|
453
|
12/31/25
|
49,455
|
104,179
|
|
|
|
|
|
159,657
|
|
Short Contracts
|
|
|
|
|
|
10-Year U.S. Treasury Note
|
298
|
12/19/25
|
33,525
|
(239,867
)
|
|
Ultra U.S. Treasury Bond
|
19
|
12/19/25
|
2,284
|
(71,003
)
|
|
|
|
|
|
(310,870
)
|
|
|
|
|
|
$ (151,213
)
|
|
Currency Purchased
|
Currency Sold
|
Counterparty
|
Settlement Date
|
Unrealized
Appreciation
(Depreciation)
|
||
|
USD
|
340,382
|
CHF
|
270,000
|
Morgan Stanley & Co. International PLC
|
10/15/25
|
$ 672
|
|
USD
|
11,766
|
EUR
|
10,000
|
Deutsche Bank AG
|
10/15/25
|
16
|
|
Currency
Purchased
|
Currency Sold
|
Counterparty
|
Settlement Date
|
Unrealized
Appreciation
(Depreciation)
|
||
|
USD
|
224,053
|
EUR
|
190,000
|
Morgan Stanley & Co. International PLC
|
10/15/25
|
$ 807
|
|
USD
|
36,634,808
|
EUR
|
31,150,000
|
Morgan Stanley & Co. International PLC
|
10/15/25
|
34,107
|
|
USD
|
6,810,804
|
GBP
|
5,020,000
|
Morgan Stanley & Co. International PLC
|
10/15/25
|
58,906
|
|
|
|
|
|
|
|
94,508
|
|
USD
|
58,452
|
EUR
|
50,000
|
Deutsche Bank AG
|
10/15/25
|
(297
)
|
|
USD
|
70,310
|
EUR
|
60,000
|
Deutsche Bank AG
|
10/15/25
|
(189
)
|
|
USD
|
435,085
|
EUR
|
370,000
|
JPMorgan Chase Bank N.A.
|
12/17/25
|
(1,219
)
|
|
|
|
|
|
|
|
(1,705
)
|
|
|
$ 92,803
|
|||||
|
Description
|
Number of
Contracts
|
Expiration
Date
|
Exercise Price
|
Notional
Amount (000)
|
Value
|
||
|
Call
|
|
|
|
|
|
|
|
|
iShares MSCI Emerging Markets ETF
|
1,904
|
10/17/25
|
USD
|
54.00
|
USD
|
10,167
|
$ 88,536
|
|
Reference Obligation/Index
|
Financing
Rate Received
by the Fund
|
Payment
Frequency
|
Termination
Date
|
Credit
Rating(a)
|
Notional
Amount (000)(b)
|
Value
|
Upfront
Premium
Paid
(Received)
|
Unrealized
Appreciation
(Depreciation)
|
|
|
CDX.NA.HY.44.V1
|
5.00
%
|
Quarterly
|
06/20/30
|
B
|
USD
|
8,250
|
$ 670,172
|
$ 545,143
|
$ 125,029
|
|
(a)
|
Using the rating of the issuer or the underlying securities of the index, as applicable,
provided by S&P Global Ratings.
|
|
(b)
|
The maximum potential amount the Fund may pay should a negative credit event take
place as defined under the terms of the agreement.
|
|
Reference Obligation/Index
|
Financing
Rate Received
by the Fund
|
Payment
Frequency
|
Counterparty
|
Termination
Date
|
Credit
Rating(a)
|
Notional
Amount (000)(b)
|
Value
|
Upfront
Premium
Paid
(Received)
|
Unrealized
Appreciation
(Depreciation)
|
|
|
Faurecia SE
|
5.00
%
|
Quarterly
|
Goldman Sachs International
|
06/20/29
|
BB-
|
EUR
|
49
|
$ 6,207
|
$ 4,341
|
$ 1,866
|
|
Faurecia SE
|
5.00
|
Quarterly
|
Goldman Sachs International
|
12/20/29
|
BB-
|
EUR
|
80
|
10,072
|
4,950
|
5,122
|
|
iTraxx.XO.42.V3 20-35%
|
5.00
|
Quarterly
|
BNP Paribas SA
|
12/20/29
|
B
|
EUR
|
114
|
18,706
|
14,606
|
4,100
|
|
iTraxx.XO.42.V3 20-35%
|
5.00
|
Quarterly
|
Goldman Sachs International
|
12/20/29
|
B
|
EUR
|
95
|
15,589
|
14,989
|
600
|
|
Zegona Finance PLC
|
5.00
|
Quarterly
|
BNP Paribas SA
|
06/20/30
|
BB
|
EUR
|
40
|
7,254
|
6,691
|
563
|
|
Zegona Finance PLC
|
5.00
|
Quarterly
|
Deutsche Bank AG
|
06/20/30
|
BB
|
EUR
|
40
|
7,222
|
5,306
|
1,916
|
|
Virgin Media Finance PLC
|
5.00
|
Quarterly
|
Goldman Sachs International
|
12/20/30
|
B-
|
EUR
|
38
|
3,558
|
3,691
|
(133
)
|
|
|
|
|
|
|
|
|
|
$ 68,608
|
$ 54,574
|
$ 14,034
|
|
(a)
|
Using the rating of the issuer or the underlying securities of the index, as applicable,
provided by S&P Global Ratings.
|
|
(b)
|
The maximum potential amount the Fund may pay should a negative credit event take
place as defined under the terms of the agreement.
|
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Assets
|
|
|
|
|
|
Investments
|
|
|
|
|
|
Long-Term Investments
|
|
|
|
|
|
Asset-Backed Securities
|
$ —
|
$ 35,495,101
|
$ —
|
$ 35,495,101
|
|
Common Stocks
|
|
|
|
|
|
Beverages
|
—
|
—
|
—
|
—
|
|
Biotechnology
|
1,034,000
|
—
|
—
|
1,034,000
|
|
Broadline Retail
|
—
|
—
|
—
|
—
|
|
Construction & Engineering
|
338
|
—
|
—
|
338
|
|
Construction Materials
|
—
|
—
|
1
|
1
|
|
Consumer Discretionary
|
—
|
—
|
1
|
1
|
|
Diversified Consumer Services
|
—
|
—
|
2
|
2
|
|
Entertainment
|
—
|
—
|
17,220
|
17,220
|
|
Financial Services
|
—
|
—
|
41,299
|
41,299
|
|
Ground Transportation
|
—
|
29
|
—
|
29
|
|
Health Care Providers & Services
|
—
|
32,746
|
—
|
32,746
|
|
Health Care Technology
|
2,040,000
|
—
|
—
|
2,040,000
|
|
Household Durables
|
3,996,940
|
—
|
238,472
|
4,235,412
|
|
Industrial Conglomerates
|
—
|
8,444
|
—
|
8,444
|
|
IT Services
|
—
|
—
|
30,182
|
30,182
|
|
Real Estate Management & Development
|
—
|
—
|
—
|
—
|
|
Retail REITs
|
—
|
1,697,500
|
—
|
1,697,500
|
|
Specialty Retail
|
—
|
—
|
—
|
—
|
|
Trading Companies & Distributors
|
—
|
—
|
5,973
|
5,973
|
|
Corporate Bonds
|
|
|
|
|
|
Advertising Agencies
|
—
|
615,390
|
—
|
615,390
|
|
Aerospace & Defense
|
—
|
869,553
|
—
|
869,553
|
|
Air Freight & Logistics
|
—
|
22,957
|
—
|
22,957
|
|
Automobile Components
|
—
|
2,027,616
|
—
|
2,027,616
|
|
Automobiles
|
—
|
1,196,084
|
—
|
1,196,084
|
|
Banks
|
—
|
2,621,329
|
—
|
2,621,329
|
|
Beverages
|
—
|
—
|
34,340
|
34,340
|
|
Biotechnology
|
—
|
385,796
|
—
|
385,796
|
|
Building Materials
|
—
|
944,606
|
—
|
944,606
|
|
Building Products
|
—
|
267,893
|
—
|
267,893
|
|
Capital Markets
|
—
|
307,901
|
—
|
307,901
|
|
Chemicals
|
—
|
3,300,539
|
—
|
3,300,539
|
|
Commercial Services & Supplies
|
—
|
4,064,929
|
—
|
4,064,929
|
|
Communications Equipment
|
—
|
51,666
|
—
|
51,666
|
|
Construction & Engineering
|
—
|
840,912
|
—
|
840,912
|
|
Consumer Discretionary
|
—
|
1,167,809
|
—
|
1,167,809
|
|
Consumer Finance
|
13,769
|
1,700,691
|
—
|
1,714,460
|
|
Consumer Staples Distribution & Retail
|
—
|
1,465,630
|
—
|
1,465,630
|
|
Containers & Packaging
|
—
|
1,917,545
|
—
|
1,917,545
|
|
Distributors
|
—
|
22,828
|
—
|
22,828
|
|
Diversified REITs
|
—
|
435,090
|
—
|
435,090
|
|
Diversified Telecommunication Services
|
—
|
4,330,003
|
—
|
4,330,003
|
|
Electric Utilities
|
—
|
1,716,220
|
—
|
1,716,220
|
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Corporate Bonds (continued)
|
|
|
|
|
|
Electronic Equipment, Instruments & Components
|
$ —
|
$ 8,293
|
$ —
|
$ 8,293
|
|
Energy Equipment & Services
|
—
|
741,836
|
—
|
741,836
|
|
Entertainment
|
—
|
1,241,027
|
—
|
1,241,027
|
|
Environmental, Maintenance & Security Service
|
—
|
283,631
|
—
|
283,631
|
|
Financial Services
|
—
|
3,382,569
|
—
|
3,382,569
|
|
Food Products
|
—
|
1,164,834
|
—
|
1,164,834
|
|
Ground Transportation
|
—
|
129,210
|
—
|
129,210
|
|
Health Care Equipment & Supplies
|
—
|
250,271
|
—
|
250,271
|
|
Health Care Providers & Services
|
—
|
1,509,007
|
—
|
1,509,007
|
|
Health Care REITs
|
—
|
9,554,289
|
—
|
9,554,289
|
|
Hotel & Resort REITs
|
—
|
254,125
|
—
|
254,125
|
|
Hotels, Restaurants & Leisure
|
—
|
4,242,216
|
—
|
4,242,216
|
|
Household Durables
|
—
|
173,994
|
—
|
173,994
|
|
Independent Power and Renewable Electricity Producers
|
—
|
820,117
|
—
|
820,117
|
|
Industrial Conglomerates
|
—
|
247,072
|
—
|
247,072
|
|
Insurance
|
—
|
3,114,151
|
—
|
3,114,151
|
|
Interactive Media & Services
|
—
|
5,295,536
|
—
|
5,295,536
|
|
Internet Software & Services
|
—
|
738,088
|
—
|
738,088
|
|
IT Services
|
—
|
1,409,976
|
—
|
1,409,976
|
|
Leisure Products
|
—
|
694,774
|
—
|
694,774
|
|
Machinery
|
—
|
661,623
|
—
|
661,623
|
|
Media
|
—
|
2,641,446
|
—
|
2,641,446
|
|
Metals & Mining
|
—
|
853,851
|
—
|
853,851
|
|
Mortgage Real Estate Investment Trusts (REITs)
|
—
|
33,741
|
—
|
33,741
|
|
Multi-Utilities
|
—
|
6,281
|
—
|
6,281
|
|
Oil, Gas & Consumable Fuels
|
—
|
3,838,839
|
—
|
3,838,839
|
|
Passenger Airlines
|
—
|
299,987
|
—
|
299,987
|
|
Personal Care Products
|
—
|
6,649,116
|
—
|
6,649,116
|
|
Pharmaceuticals
|
—
|
1,851,203
|
—
|
1,851,203
|
|
Real Estate Management & Development
|
117,764
|
3,254,056
|
—
|
3,371,820
|
|
Retail REITs
|
—
|
13,750
|
—
|
13,750
|
|
Semiconductors & Semiconductor Equipment
|
—
|
172,191
|
—
|
172,191
|
|
Software
|
—
|
8,342,324
|
—
|
8,342,324
|
|
Specialty Retail
|
—
|
830,676
|
—
|
830,676
|
|
Textiles, Apparel & Luxury Goods
|
—
|
760,151
|
—
|
760,151
|
|
Transportation Infrastructure
|
—
|
1,140,486
|
—
|
1,140,486
|
|
Wireless Telecommunication Services
|
—
|
8,057,112
|
—
|
8,057,112
|
|
Fixed Rate Loan Interests
|
—
|
12,404,281
|
5,036,619
|
17,440,900
|
|
Floating Rate Loan Interests
|
—
|
115,468,524
|
245,745,334
|
361,213,858
|
|
Foreign Agency Obligations
|
—
|
1,145,087
|
—
|
1,145,087
|
|
Investment Companies
|
|
|
|
|
|
Equity Funds
|
—
|
12,869
|
—
|
12,869
|
|
Fixed Income Funds
|
2,985,228
|
—
|
1,693,507
|
4,678,735
|
|
Municipal Bonds
|
—
|
4,824,085
|
—
|
4,824,085
|
|
Preferred Securities
|
|
|
|
|
|
Capital Trusts
|
—
|
14,749,564
|
—
|
14,749,564
|
|
Preferred Stocks
|
—
|
1,375
|
7,568,445
|
7,569,820
|
|
Warrants
|
—
|
357
|
98,458
|
98,815
|
|
Short-Term Securities
|
|
|
|
|
|
Money Market Funds
|
15,494,966
|
—
|
—
|
15,494,966
|
|
Options Purchased
|
|
|
|
|
|
Equity Contracts
|
88,536
|
—
|
—
|
88,536
|
|
Unfunded Floating Rate Loan Interests(a)
|
—
|
11,932
|
94,280
|
106,212
|
|
Liabilities
|
|
|
|
|
|
Unfunded Floating Rate Loan Interests(a)
|
—
|
(106
)
|
(118,265
)
|
(118,371
)
|
|
|
$25,771,541
|
$290,786,624
|
$260,485,868
|
$577,044,033
|
|
Derivative Financial Instruments(b)
|
|
|
|
|
|
Assets
|
|
|
|
|
|
Credit Contracts
|
$ —
|
$ 139,196
|
$ —
|
$ 139,196
|
|
Foreign Currency Exchange Contracts
|
—
|
94,508
|
—
|
94,508
|
|
Interest Rate Contracts
|
159,657
|
—
|
—
|
159,657
|
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Liabilities
|
|
|
|
|
|
Credit Contracts
|
$ —
|
$ (133
)
|
$ —
|
$ (133
)
|
|
Foreign Currency Exchange Contracts
|
—
|
(1,705
)
|
—
|
(1,705
)
|
|
Interest Rate Contracts
|
(310,870
)
|
—
|
—
|
(310,870
)
|
|
|
$(151,213
)
|
$231,866
|
$—
|
$80,653
|
|
(a)
|
Unfunded floating rate loan interests are valued at the unrealized appreciation (depreciation)
on the commitment.
|
|
(b)
|
Derivative financial instruments are swaps, futures contracts and forward foreign
currency exchange contracts. Swaps, futures contracts and forward foreign currency
exchange
contracts are valued at the unrealized appreciation (depreciation) on the instrument.
|
|
|
Asset-Backed
Securities
|
Common
Stocks
|
Corporate
Bonds
|
Fixed
Rate Loan
Interests
|
Floating
Rate Loan
Interests
|
Investment
Companies
|
Preferred
Stocks
|
Unfunded
Floating
Rate Loan
Interests
|
|
Assets
|
|
|
|
|
|
|
|
|
|
Opening balance, as of December 31, 2024
|
$ 1,000,000
|
$ 1,352,233
|
$ 85,458
|
$ 3,646,756
|
$ 258,529,849
|
$ —
|
$ 5,491,882
|
$ (88,115
)
|
|
Transfers into Level 3
|
—
|
—
|
—
|
687
|
1,639,141
|
—
|
—
|
—
|
|
Transfers out of Level 3
|
(1,000,000
)
|
—
|
(85,458
)
|
(744,541
)
|
(7,633,637
)
|
—
|
—
|
1,891
|
|
Accrued discounts/premiums
|
—
|
—
|
—
|
(1,014
)
|
650,580
|
—
|
—
|
—
|
|
Net realized gain (loss)
|
—
|
513,935
|
—
|
(415,994
)
|
(14,911,140
)
|
—
|
45,644
|
—
|
|
Net change in unrealized appreciation (depreciation)(a)
|
—
|
(739,560
)
|
—
|
601,774
|
9,164,211
|
(77,110
)
|
968,077
|
62,239
|
|
Purchases
|
—
|
615,216
|
34,340
|
2,613,573
|
73,845,469
|
1,770,617
|
1,644,342
|
—
|
|
Sales
|
—
|
(1,408,674
)
|
—
|
(664,622
)
|
(75,539,139
)
|
—
|
(581,500
)
|
—
|
|
Closing balance, as of September 30, 2025
|
$ —
|
$ 333,150
|
$ 34,340
|
$ 5,036,619
|
$ 245,745,334
|
$ 1,693,507
|
$ 7,568,445
|
$ (23,985
)
|
|
Net change in unrealized appreciation (depreciation) on investments still held
at September 30, 2025(a)
|
$ —
|
$ (615,317
)
|
$ —
|
$ 119,149
|
$ (1,597,692
)
|
$ (77,110
)
|
$ 968,077
|
$ 29,381
|
|
|
Warrants
|
Total
|
|
Assets
|
|
|
|
Opening balance, as of December 31, 2024
|
$ 27,419
|
$ 270,045,482
|
|
Transfers into Level 3
|
—
|
1,639,828
|
|
Transfers out of Level 3
|
(286
)
|
(9,462,031
)
|
|
Accrued discounts/premiums
|
—
|
649,566
|
|
Net realized gain (loss)
|
—
|
(14,767,555
)
|
|
Net change in unrealized appreciation (depreciation)(a)
|
71,325
|
10,050,956
|
|
Purchases
|
—
|
80,523,557
|
|
Sales
|
—
|
(78,193,935
)
|
|
Closing balance, as of September 30, 2025
|
$ 98,458
|
$ 260,485,868
|
|
Net change in unrealized appreciation (depreciation) on investments still held at
September 30, 2025(a)
|
$ 71,325
|
$ (1,102,187
)
|
|
(a)
|
Any difference between net change in unrealized appreciation (depreciation) and net
change in unrealized appreciation (depreciation) on investments still held at September
30, 2025 is
generally due to investments no longer held or categorized as Level 3 at period end.
|
|
|
Value
|
Valuation
Approach
|
Unobservable
Inputs
|
Range of
Unobservable
Inputs
Utilized(a)
|
Weighted
Average of
Unobservable
Inputs Based
on Fair Value
|
|
Assets
|
|
|
|
|
|
|
Floating Rate Loan Interests
|
$196,756,935
|
Income
|
Discount Rate
|
8% - 27%
|
10%
|
|
|
|
Market
|
Revenue Multiple
|
0.33x -1.40x
|
0.68x
|
|
|
|
|
EBITDA Multiple
|
4.00x - 10.00x
|
6.93x
|
|
|
|
|
|
|
|
|
|
Value
|
Valuation
Approach
|
Unobservable
Inputs
|
Range of
Unobservable
Inputs
Utilized(a)
|
Weighted
Average of
Unobservable
Inputs Based
on Fair Value
|
|
Common Stock
|
30,182
|
Market
|
EBITDA Multiple
|
13.25x
|
—
|
|
|
|
|
Revenue Multiple
|
0.33x
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed Rate Loan Interests
|
2,475,893
|
Income
|
Discount Rate
|
0.12
|
—
|
|
|
|
|
|
|
|
|
Preferred Stocks
|
7,559,732
|
Income
|
Discount Rate
|
10% -15%
|
15%
|
|
|
|
Market
|
Revenue Multiple
|
0.50x - 1.50x
|
1.10x
|
|
|
|
|
Time to Exit
|
2.0 years
|
—
|
|
|
|
|
Volatility
|
0.45
|
—
|
|
|
|
|
EBITDA Multiple
|
4.00x - 30.42x
|
4.31x
|
|
|
|
|
Discount for lack of marketability
|
10% -15%
|
10%
|
|
|
|
|
|
|
|
|
Warrants
|
405,479
|
Market
|
Revenue Multiple
|
5.00x
|
—
|
|
|
|
|
Time to Exit
|
2.0 years
|
—
|
|
|
|
|
Volatility
|
0.45
|
—
|
|
|
|
|
EBITDA Multiple
|
30.42x
|
—
|
|
|
|
|
Discount for lack of marketability
|
0.15
|
—
|
|
|
|
Income
|
Discount Rate
|
12% -15%
|
12%
|
|
|
|
|
|
|
|
|
|
$207,228,221
|
|
|
|
|
|
(a)
|
A significant change in unobservable input could result in a correlated or inverse
change in value.
|
|
Currency Abbreviation
|
|
|
CHF
|
Swiss Franc
|
|
EUR
|
Euro
|
|
GBP
|
British Pound
|
|
USD
|
United States Dollar
|
|
Portfolio Abbreviation
|
|
|
AMT
|
Alternative Minimum Tax
|
|
CLO
|
Collateralized Loan Obligation
|
|
CME
|
Chicago Mercantile Exchange
|
|
CMT
|
Constant Maturity Treasury
|
|
DAC
|
Designated Activity Company
|
|
DIP
|
Debtor-In-Possession
|
|
ETF
|
Exchange-Traded Fund
|
|
EURIBOR
|
Euro Interbank Offered Rate
|
|
GO
|
General Obligation Bonds
|
|
MSCI
|
Morgan Stanley Capital International
|
|
PCL
|
Public Company Limited
|
|
PIK
|
Payment-in-Kind
|
|
PJSC
|
Public Joint Stock Company
|
|
RB
|
Revenue Bonds
|
|
REIT
|
Real Estate Investment Trust
|
|
SOFR
|
Secured Overnight Financing Rate
|