Shenkman Capital Floating Rate High Income Fund
|
||||||
Schedule of Investments
|
||||||
December 31, 2022 (Unaudited)
|
||||||
Principal
|
Fair
|
|||||
Amount
|
Value
|
|||||
BANK LOANS - 83.34%
|
||||||
AEROSPACE & DEFENSE - 1.12%
|
||||||
Peraton Corp., Senior Secured First Lien Term Loan 8.134% (1 Month LIBOR USD + 3.75%, 0.750% Floor), 02/01/2028 (a)
|
$ |
2,337,191
|
$ |
2,286,555
|
||
Spirit Aerosystems, Inc., Senior Secured First Lien Term Loan 8.823% (1 Month SOFR USD + 4.50%, 0.500% Floor), 01/15/2027 (a)
|
598,500
|
594,574
|
||||
TransDigm, Inc., Senior Secured First Lien Term Loan 7.567% (1 Month SOFR USD + 3.25%), 02/22/2027 (a)
|
455,000
|
454,006
|
||||
3,335,135
|
||||||
AUTO RETAIL - 0.91%
|
||||||
CWGS Group, LLC
|
|
|
|
|||
Senior Secured First Lien Term Loan 6.571% (2 Month LIBOR USD + 2.50%, 0.750% Floor), 06/05/2028 (a)
|
57,409
|
|
53,401
|
|||
Senior Secured First Lien Term Loan 6.818% (1 Month LIBOR USD + 2.50%, 0.750% Floor), 06/05/2028 (a)
|
685,638
|
|
637,766
|
|||
LS Group Opco Acquisition, LLC, Senior Secured First Lien Term Loan 6.58% (6 Month LIBOR USD + 3.25%, 0.750% Floor), 11/02/2027 (a)
|
999,600
|
988,355
|
||||
Mavis Tire Express Services Topco Corp., Senior Secured First Lien Term Loan 8.50% (1 Month SOFR USD + 4.00%, 0.750% Floor), 05/04/2028 (a)
|
1,067,755
|
1,021,419
|
||||
2,700,941
|
||||||
AUTOMOTIVE - 0.36%
|
||||||
American Axle & Manufacturing, Inc., Senior Secured First Lien Term Loan 7.898% (1 Month SOFR USD + 3.50%, 0.500% Floor), 12/13/2029 (a)
|
511,000
|
501,207
|
||||
LTI Holdings, Inc., Senior Secured First Lien Term Loan 7.884% (1 Month LIBOR USD + 3.50%), 09/08/2025 (a)
|
603,225
|
578,906
|
||||
1,080,113
|
||||||
BUILDING PRODUCTS - 2.04%
|
||||||
Cornerstone Building Brands, Inc., Senior Secured First Lien Term Loan 7.568% (1 Month LIBOR USD + 3.25%, 0.500% Floor), 04/12/2028 (a)
|
752,315
|
678,562
|
||||
CPG International, LLC, Senior Secured First Lien Term Loan 6.923% (1 Month SOFR USD + 2.50%, 0.500% Floor), 04/30/2029 (a)
|
1,255,853
|
1,224,457
|
||||
Griffon Corp., Senior Secured First Lien Term Loan 7.009% (3 Month SOFR USD + 2.50%, 0.500% Floor), 01/24/2029 (a)
|
408,622
|
402,366
|
||||
QUIKRETE Holdings, Inc.
|
||||||
Senior Secured First Lien Term Loan 7.009% (1 Month LIBOR USD + 2.625%), 02/01/2027 (a)
|
1,384,541
|
1,371,672
|
||||
Senior Secured First Lien Term Loan 7.384% (1 Month LIBOR USD + 3.00%), 06/11/2028 (a)
|
1,136,413
|
1,129,043
|
||||
TAMKO Building Products, LLC
|
|
|
|
|||
Senior Secured First Lien Term Loan 7.415% (3 Month LIBOR USD + 3.00%), 05/29/2026 (a)
|
338,171
|
|
328,448
|
|||
Senior Secured First Lien Term Loan 7.73% (3 Month LIBOR USD + 3.00%), 05/29/2026 (a)
|
155,444
|
|
150,975
|
|||
Senior Secured First Lien Term Loan 7.735% (3 Month LIBOR USD + 3.00%), 05/29/2026 (a)
|
166,287
|
|
161,507
|
|||
VC GB Holdings I Corp., Senior Secured First Lien Term Loan 7.884% (1 Month LIBOR USD + 3.50%, 0.500% Floor), 07/21/2028 (a)
|
656,370
|
593,742
|
||||
6,040,772
|
||||||
CHEMICALS - 3.74%
|
||||||
Axalta Coating Systems U.S. Holdings, Inc., Senior Secured First Lien Term Loan 7.505% (1 Month SOFR USD + 3.00%, 0.500% Floor), 12/20/2029 (a)
|
913,204
|
915,259
|
||||
Discovery Purchaser Corp., Senior Secured First Lien Term Loan 7.968% (3 Month SOFR USD + 4.375%, 0.500% Floor), 10/04/2029 (a)
|
632,000
|
578,122
|
||||
HB Fuller Co., Senior Secured First Lien Term Loan 6.353% (1 Month LIBOR USD + 2.00%), 10/21/2024 (a)
|
190,359
|
190,498
|
||||
Ineos Finance PLC, Senior Secured First Lien Term Loan 6.923% (1 Month SOFR USD + 2.50%, 0.500% Floor), 11/06/2028 (a)
|
714,600
|
690,482
|
||||
Ineos U.S. Petrochem, LLC, Senior Secured First Lien Term Loan 7.134% (1 Month LIBOR USD + 2.75%, 0.500% Floor), 01/29/2026 (a)
|
492,500
|
485,113
|
||||
LSF11 A5 Holdco, LLC, Senior Secured First Lien Term Loan 7.938% (1 Month SOFR USD + 3.50%, 0.500% Floor), 10/16/2028 (a)
|
456,554
|
442,173
|
||||
LSF11 Skyscraper Holdco SARL, Senior Secured First Lien Term Loan 8.23% (3 Month LIBOR USD + 3.50%, 0.750% Floor), 09/29/2027 (a)
|
1,509,592
|
1,479,399
|
||||
Lummus Technology Holdings V, LLC, Senior Secured First Lien Term Loan 7.884% (1 Month LIBOR USD + 3.50%), 06/30/2027 (a)
|
976,536
|
937,475
|
||||
Olympus Water U.S. Holding Corp., Senior Secured First Lien Term Loan 8.50% (3 Month LIBOR USD + 3.75%, 0.500% Floor), 11/09/2028 (a)
|
479,915
|
461,986
|
||||
Orion Engineered Carbons GmbH, Senior Secured First Lien Term Loan 6.98% (3 Month LIBOR USD + 2.25%, 0.500% Floor), 09/22/2028 (a)
|
284,400
|
279,423
|
||||
PMHC II, Inc., Senior Secured First Lien Term Loan 8.494% (3 Month SOFR USD + 4.25%, 0.500% Floor), 04/23/2029 (a)
|
1,824,309
|
1,551,136
|
||||
Polar U.S. Borrower, LLC
|
|
|
|
|||
Senior Secured First Lien Term Loan 8.691% (3 Month LIBOR USD + 4.75%), 10/15/2025 (a)
|
223,933
|
|
182,058
|
|||
Senior Secured First Lien Term Loan 9.021% (6 Month SOFR USD + 4.75%), 10/15/2025 (a)
|
257,377
|
|
209,247
|
|||
PQ Corp., Senior Secured First Lien Term Loan 6.915% (3 Month LIBOR USD + 2.50%, 0.500% Floor), 06/09/2028 (a)
|
353,615
|
348,974
|
||||
PQ Performance Chemicals, Senior Secured First Lien Term Loan 7.392% (1 Month LIBOR USD + 3.25%, 0.750% Floor), 08/02/2028 (a)
|
523,710
|
511,055
|
||||
SCIH Salt Holdings, Inc., Senior Secured First Lien Term Loan 8.415% (6 Month LIBOR USD + 4.00%, 0.750% Floor), 03/16/2027 (a)
|
812,472
|
791,867
|
||||
Spectrum Holdings III Corp., Senior Secured First Lien Term Loan 7.634% (1 Month LIBOR USD + 3.25%, 1.000% Floor), 01/31/2025 (a)
|
706,422
|
651,674
|
||||
Tronox Finance, LLC, Senior Secured First Lien Term Loan 6.634% (1 Month LIBOR USD + 2.25%), 03/10/2028 (a)
|
416,308
|
404,033
|
||||
11,109,974
|
||||||
COMMERCIAL SERVICES - 5.35%
|
||||||
AlixPartners, LLP, Senior Secured First Lien Term Loan 7.134% (1 Month LIBOR USD + 2.75%, 0.500% Floor), 02/04/2028 (a)
|
647,846
|
643,509
|
||||
Allied Universal Holdco, LLC, Senior Secured First Lien Term Loan 7.821% (1 Month LIBOR USD + 3.75%, 0.500% Floor), 05/12/2028 (a)
|
1,244,145
|
1,184,432
|
||||
American Auto Auction Group, LLC, Senior Secured First Lien Term Loan 9.73% (3 Month SOFR USD + 5.00%, 0.750% Floor), 12/30/2027 (a)
|
884,070
|
694,437
|
||||
Apex Group Treasury, LLC, Senior Secured First Lien Term Loan 8.258% (3 Month LIBOR USD + 3.75%, 0.500% Floor), 07/27/2028 (a)
|
1,250,314
|
1,197,176
|
||||
Camelot U.S. Acquisition 1 Co.
|
||||||
Senior Secured First Lien Term Loan 7.384% (1 Month LIBOR USD + 3.00%), 10/30/2026 (a)
|
699,548
|
689,492
|
||||
Senior Secured First Lien Term Loan 7.384% (1 Month LIBOR USD + 3.00%, 1.000% Floor), 10/30/2026 (a)
|
1,954,658
|
1,927,781
|
||||
Corelogic, Inc., Senior Secured First Lien Term Loan 7.938% (1 Month LIBOR USD + 3.50%, 0.500% Floor), 06/02/2028 (a)
|
1,218,681
|
1,021,029
|
||||
Deerfield Dakota Holding, LLC, Senior Secured First Lien Term Loan 8.073% (1 Month SOFR USD + 3.75%, 1.000% Floor), 04/09/2027 (a)
|
1,583,912
|
1,483,191
|
||||
Dun & Bradstreet Corp., Senior Secured First Lien Term Loan 7.639% (1 Month LIBOR USD + 3.25%), 02/06/2026 (a)
|
1,780,548
|
1,767,355
|
||||
EAB Global, Inc., Senior Secured First Lien Term Loan 7.884% (1 Month LIBOR USD + 3.50%, 0.500% Floor), 08/16/2028 (a)
|
496,406
|
478,766
|
||||
Galaxy U.S. Opco, Inc., Senior Secured First Lien Term Loan 9.073% (1 Month SOFR USD + 4.75%, 0.500% Floor), 04/30/2029 (a)
|
357,000
|
323,978
|
||||
Garda World Security Corp.
|
||||||
Senior Secured First Lien Term Loan 8.93% (3 Month LIBOR USD + 4.25%), 10/30/2026 (a)
|
575,876
|
561,767
|
||||
Senior Secured First Lien Term Loan 8.534% (3 Month SOFR USD + 4.25%), 02/01/2029 (a)
|
498,750
|
481,294
|
||||
Indy U.S. Bidco, LLC, Senior Secured First Lien Term Loan 8.134% (1 Month LIBOR USD + 3.75%), 03/06/2028 (a)
|
837,143
|
731,806
|
||||
Pre-Paid Legal Services, Inc., Senior Secured First Lien Term Loan 8.134% (1 Month LIBOR USD + 3.75%, 0.500% Floor), 12/15/2028 (a)
|
707,653
|
682,127
|
||||
Spin Holdco, Inc., Senior Secured First Lien Term Loan 8.765% (3 Month LIBOR USD + 4.00%, 0.750% Floor), 03/06/2028 (a)
|
513,278
|
435,517
|
||||
Tempo Acquisition, LLC, Senior Secured First Lien Term Loan 7.134% (1 Month LIBOR USD + 2.75%), 05/01/2024 (a)
|
185,137
|
184,951
|
||||
Trans Union, LLC, Senior Secured First Lien Term Loan 6.634% (1 Month LIBOR USD + 2.25%, 0.500% Floor), 12/01/2028 (a)
|
1,403,672
|
1,392,267
|
||||
15,880,875
|
||||||
CONSTRUCTION & ENGINEERING - 1.96%
|
||||||
Amentum Government Services Holdings, LLC
|
|
|
|
|||
Senior Secured First Lien Term Loan 8.17% (6 Month LIBOR USD + 4.00%), 02/01/2027 (a)
|
233,082
|
|
228,518
|
|||
Senior Secured First Lien Term Loan 8.384% (1 Month LIBOR USD + 4.00%), 02/01/2027 (a)
|
699,993
|
|
686,284
|
|||
Senior Secured First Lien Term Loan 7.558% (6 Month SOFR USD + 4.00%, 0.500% Floor), 02/15/2029 (a)
|
361,847
|
|
353,479
|
|||
Senior Secured First Lien Term Loan 8.768% (3 Month SOFR USD + 4.00%, 0.500% Floor), 02/15/2029 (a)
|
319,728
|
|
312,335
|
|||
American Residential Services, LLC, Senior Secured First Lien Term Loan 8.23% (3 Month LIBOR USD + 3.50%, 0.750% Floor), 10/15/2027 (a)
|
665,420
|
649,616
|
||||
Api Group DE, Inc.
|
||||||
Senior Secured First Lien Term Loan 6.571% (1 Month LIBOR USD + 2.50%), 10/01/2026 (a)
|
556,066
|
553,169
|
||||
Senior Secured First Lien Term Loan 7.134% (1 Month LIBOR USD + 2.75%), 01/03/2029 (a)
|
548,606
|
544,971
|
||||
Brand Industrial Services, Inc.
|
|
|
|
|||
Senior Secured First Lien Term Loan 8.034% (3 Month LIBOR USD + 4.25%, 1.000% Floor), 06/21/2024 (a)
|
85,172
|
|
76,548
|
|||
Senior Secured First Lien Term Loan 8.608% (3 Month LIBOR USD + 4.25%, 1.000% Floor), 06/21/2024 (a)
|
344,146
|
|
309,301
|
|||
Centuri Group, Inc.
|
|
|
|
|||
Senior Secured First Lien Term Loan 6.884% (1 Month LIBOR USD + 2.50%, 0.500% Floor), 08/28/2028 (a)
|
49,913
|
|
49,195
|
|||
Senior Secured First Lien Term Loan 7.235% (3 Month LIBOR USD + 2.50%, 0.500% Floor), 08/28/2028 (a)
|
619,374
|
|
610,471
|
|||
Tecta America Corp., Senior Secured First Lien Term Loan 8.688% (1 Month SOFR USD + 4.25%, 0.750% Floor), 04/06/2028 (a)
|
912,546
|
878,325
|
||||
Tiger Acquisition, LLC, Senior Secured First Lien Term Loan 7.321% (1 Month LIBOR USD + 3.25%, 0.500% Floor), 06/01/2028 (a)
|
587,563
|
559,324
|
||||
5,811,536
|
||||||
CONSUMER DISCRETIONARY - 1.27%
|
||||||
Champ Acquisition Corp., Senior Secured First Lien Term Loan 10.23% (3 Month LIBOR USD + 5.50%), 12/19/2025 (a)
|
168,004
|
166,744
|
||||
Houghton Mifflin Harcourt Co., Senior Secured First Lien Term Loan 9.673% (1 Month SOFR USD + 5.25%, 0.500% Floor), 04/09/2029 (a)
|
1,221,938
|
1,165,801
|
||||
Learning Care Group (U.S.) No. 2, Inc.
|
|
|
|
|||
Senior Secured First Lien Term Loan 7.608% (3 Month LIBOR USD + 3.25%, 1.000% Floor), 03/13/2025 (a)
|
345,544
|
|
322,350
|
|||
Senior Secured First Lien Term Loan 7.665% (3 Month LIBOR USD + 3.25%, 1.000% Floor), 03/13/2025 (a)
|
86,386
|
|
80,588
|
|||
Senior Secured First Lien Term Loan 7.98% (3 Month LIBOR USD + 3.25%, 1.000% Floor), 03/13/2025 (a)
|
20,625
|
|
19,240
|
|||
Prometric Holdings, Inc., Senior Secured First Lien Term Loan 7.39% (1 Month LIBOR USD + 3.00%, 1.000% Floor), 01/29/2025 (a)
|
953,781
|
842,909
|
||||
Renaissance Holding Corp., Senior Secured First Lien Term Loan 8.717% (1 Month SOFR USD + 4.50%, 0.500% Floor), 03/30/2029 (a)
|
732,710
|
706,332
|
||||
Tory Burch, LLC, Senior Secured First Lien Term Loan 7.884% (1 Month LIBOR USD + 3.50%, 0.500% Floor), 04/14/2028 (a)
|
369,375
|
342,289
|
||||
WW International, Inc., Senior Secured First Lien Term Loan 7.89% (1 Month LIBOR USD + 3.50%, 0.500% Floor), 04/13/2028 (a)
|
233,415
|
134,797
|
||||
3,781,050
|
||||||
CONSUMER NON-DISCRETIONARY - 0.25%
|
||||||
Kronos Acquisition Holdings, Inc., Senior Secured First Lien Term Loan 8.485% (3 Month LIBOR USD + 3.75%, 0.500% Floor), 12/22/2026 (a)
|
769,300
|
733,893
|
||||
ENVIRONMENTAL SERVICES - 1.10%
|
||||||
Belfor Holdings, Inc., Senior Secured First Lien Term Loan 8.384% (1 Month LIBOR USD + 4.00%), 04/06/2026 (a)
|
497,749
|
495,260
|
||||
Brightview Landscapes, LLC, Senior Secured First Lien Term Loan 7.573% (1 Month SOFR USD + 3.25%, 0.500% Floor), 04/20/2029 (a)
|
755,205
|
729,717
|
||||
Covanta Holding Corp.
|
||||||
Senior Secured First Lien Term Loan 6.823% (1 Month SOFR USD + 2.50%, 0.500% Floor), 11/30/2028 (a)
|
613,095
|
609,484
|
||||
Senior Secured First Lien Term Loan 6.823% (1 Month SOFR USD + 2.50%, 0.500% Floor), 11/30/2028 (a)
|
46,272
|
45,999
|
||||
WIN Waste Innovations Holdings, Inc., Senior Secured First Lien Term Loan 7.48% (3 Month LIBOR USD + 2.75%, 0.500% Floor), 03/24/2028 (a)
|
1,433,175
|
1,374,952
|
||||
3,255,412
|
||||||
FINANCIALS - DIVERSIFIED - 1.55%
|
||||||
Blackstone Mortgage Trust, Inc.
|
||||||
Senior Secured First Lien Term Loan 6.634% (1 Month LIBOR USD + 2.25%), 04/23/2026 (a)
|
565,988
|
553,607
|
||||
Senior Secured First Lien Term Loan 7.823% (1 Month SOFR USD + 3.50%, 0.500% Floor), 05/09/2029 (a)
|
766,150
|
752,742
|
||||
Citco Group, Ltd., Senior Secured First Lien Term Loan 7.554% (3 Month SOFR USD + 3.50%, 0.500% Floor), 04/26/2028 (a)
|
432,915
|
430,750
|
||||
Corp. Service Co., Senior Secured First Lien Term Loan 7.673% (1 Month SOFR USD + 3.25%, 0.500% Floor), 11/02/2029 (a)
|
600,000
|
594,750
|
||||
Focus Financial Partners, LLC, Senior Secured First Lien Term Loan 7.573% (1 Month SOFR USD + 3.25%, 0.500% Floor), 06/30/2028 (a)
|
760,456
|
753,011
|
||||
Starwood Property Mortgage, LLC, Senior Secured First Lien Term Loan 6.884% (1 Month LIBOR USD + 2.50%), 07/27/2026 (a)
|
459,563
|
453,818
|
||||
VFH Parent, LLC, Senior Secured First Lien Term Loan 7.421% (1 Month SOFR USD + 3.00%, 0.500% Floor), 01/12/2029 (a)
|
1,075,000
|
1,049,738
|
||||
4,588,416
|
||||||
FINANCIALS - INSURANCE - 3.35%
|
||||||
Acrisure, LLC
|
||||||
Senior Secured First Lien Term Loan 9.916% (3 Month SOFR USD + 5.75%, 1.000% Floor), 02/15/2027 (a)
|
575,000
|
571,886
|
||||
Senior Secured First Lien Term Loan 8.634% (1 Month LIBOR USD + 4.25%, 0.500% Floor), 02/16/2027 (a)
|
262,350
|
254,588
|
||||
AssuredPartners, Inc.
|
||||||
Senior Secured First Lien Term Loan 7.884% (1 Month LIBOR USD + 3.50%), 02/12/2027 (a)
|
636,916
|
620,067
|
||||
Senior Secured First Lien Term Loan 7.884% (1 Month LIBOR USD + 3.50%, 0.500% Floor), 02/12/2027 (a)
|
359,525
|
349,099
|
||||
Asurion, LLC
|
||||||
Senior Secured First Lien Term Loan 7.384% (1 Month LIBOR USD + 3.00%), 11/04/2024 (a)
|
404,408
|
393,792
|
||||
Senior Secured First Lien Term Loan 7.634% (1 Month LIBOR USD + 3.25%), 12/23/2026 (a)
|
3,365,308
|
3,008,451
|
||||
Senior Secured First Lien Term Loan 7.634% (1 Month LIBOR USD + 3.25%), 07/30/2027 (a)
|
1,069,135
|
938,840
|
||||
Senior Secured Second Lien Term Loan 9.634% (1 Month LIBOR USD + 5.25%), 01/31/2028 (a)
|
340,000
|
267,182
|
||||
Senior Secured Second Lien Term Loan 9.634% (1 Month LIBOR USD + 5.25%), 01/19/2029 (a)
|
820,000
|
642,236
|
||||
HUB International, Ltd., Senior Secured First Lien Term Loan 7.528% (3 Month LIBOR USD + 3.25%, 0.750% Floor), 04/25/2025 (a)
|
1,962,179
|
1,947,237
|
||||
USI, Inc., Senior Secured First Lien Term Loan 8.33% (3 Month SOFR USD + 3.75%, 0.500% Floor), 11/14/2029 (a)
|
955,436
|
948,270
|
||||
9,941,648
|
||||||
FOOD & BEVERAGE - 1.19%
|
||||||
H-Food Holdings, LLC
|
||||||
Senior Secured First Lien Term Loan 8.071% (1 Month LIBOR USD + 3.6875%), 05/23/2025 (a)
|
869,050
|
776,388
|
||||
Senior Secured First Lien Term Loan 8.384% (1 Month LIBOR USD + 4.00%), 05/23/2025 (a)
|
120,000
|
107,614
|
||||
Pegasus Bidco B.V., Senior Secured First Lien Term Loan 8.515% (3 Month SOFR USD + 4.25%, 0.500% Floor), 07/12/2029 (a)
|
991,000
|
961,270
|
||||
Triton Water Holdings, Inc., Senior Secured First Lien Term Loan 8.23% (3 Month LIBOR USD + 3.50%, 0.500% Floor), 03/31/2028 (a)
|
1,814,645
|
1,693,744
|
||||
3,539,016
|
||||||
HEALTHCARE - EQUIPMENT & SUPPLIES - 3.20%
|
||||||
athenahealth Group, Inc.
|
||||||
Senior Secured First Lien Term Loan 7.821% (1 Month SOFR USD + 3.50%, 0.500% Floor), 02/15/2029 (a)
|
1,615,664
|
1,462,757
|
||||
Senior Secured First Lien Delayed-Draw Term Loan 7.821% (1 Month SOFR USD + 3.50%, 0.500% Floor), 02/15/2029 (a)(i)
|
275,217
|
249,171
|
||||
Aveanna Healthcare, LLC, Senior Secured First Lien Term Loan 8.139% (1 Month LIBOR USD + 3.75%, 0.500% Floor), 07/17/2028 (a)
|
479,582
|
371,437
|
||||
Azalea TopCo, Inc.
|
||||||
Senior Secured First Lien Term Loan 7.884% (1 Month LIBOR USD + 3.50%), 07/24/2026 (a)
|
219,864
|
202,069
|
||||
Senior Secured First Lien Term Loan 7.936%, 07/24/2026 (a)(g)
|
154,223
|
|
142,271
|
|||
Senior Secured First Lien Term Loan 8.134% (1 Month LIBOR USD + 3.75%, 0.750% Floor), 07/24/2026 (a)
|
109,689
|
101,325
|
||||
Bausch & Lomb Corp., Senior Secured First Lien Term Loan 7.842% (3 Month SOFR USD + 3.25%, 0.500% Floor), 05/10/2027 (a)
|
757,195
|
722,296
|
||||
Cvet Midco 2, LP, Senior Secured First Lien Term Loan 9.58% (3 Month SOFR USD + 5.00%, 0.500% Floor), 10/15/2029 (a)
|
235,000
|
220,783
|
||||
Embecta Corp., Senior Secured First Lien Term Loan 7.791% (6 Month SOFR USD + 3.00%, 0.500% Floor), 03/30/2029 (a)
|
408,306
|
390,316
|
||||
Greatbatch, Ltd., Senior Secured First Lien Term Loan 6.884% (1 Month LIBOR USD + 2.50%, 0.500% Floor), 09/02/2028 (a)
|
719,196
|
710,386
|
||||
Greenway Health, LLC, Senior Secured First Lien Term Loan 8.48% (3 Month LIBOR USD + 3.75%, 1.000% Floor), 02/16/2024 (a)
|
614,250
|
427,518
|
||||
Insulet Corp., Senior Secured First Lien Term Loan 7.688% (1 Month SOFR USD + 3.25%, 0.500% Floor), 05/04/2028 (a)
|
768,300
|
759,660
|
||||
Medline Borrower, LP, Senior Secured First Lien Term Loan 7.634% (1 Month LIBOR USD + 3.25%, 0.500% Floor), 10/23/2028 (a)
|
933,823
|
889,097
|
||||
Milano Acquisition Corp., Senior Secured First Lien Term Loan 8.73% (3 Month LIBOR USD + 4.00%, 0.750% Floor), 10/01/2027 (a)
|
927,463
|
872,975
|
||||
MPH Acquisition Holdings, LLC, Senior Secured First Lien Term Loan 8.985% (3 Month LIBOR USD + 4.25%, 0.500% Floor), 09/01/2028 (a)
|
482,159
|
414,054
|
||||
Navicure, Inc., Senior Secured First Lien Term Loan 8.384% (1 Month LIBOR USD + 4.00%), 10/22/2026 (a)
|
1,575,921
|
1,552,282
|
||||
9,488,397
|
||||||
HEALTHCARE - FACILITIES - 3.44%
|
||||||
ADMI Corp.
|
||||||
Senior Secured First Lien Term Loan 7.759% (1 Month LIBOR USD + 3.375%, 0.500% Floor), 12/23/2027 (a)
|
641,685
|
583,773
|
||||
Senior Secured First Lien Term Loan 8.134% (1 Month LIBOR USD + 3.75%, 0.500% Floor), 12/23/2027 (a)
|
641,875
|
586,314
|
||||
CHG Healthcare Services, Inc., Senior Secured First Lien Term Loan 7.634% (1 Month LIBOR USD + 3.25%, 0.500% Floor), 09/29/2028 (a)
|
1,021,075
|
1,001,154
|
||||
Electron Bidco, Inc., Senior Secured First Lien Term Loan 7.387% (1 Month LIBOR USD + 3.00%, 0.500% Floor), 11/01/2028 (a)
|
1,396,448
|
1,361,711
|
||||
Global Medical Response, Inc.
|
||||||
Senior Secured First Lien Term Loan 8.634% (1 Month LIBOR USD + 4.25%, 1.000% Floor), 03/14/2025 (a)
|
524,725
|
374,961
|
||||
Senior Secured First Lien Term Loan 8.422% (1 Month LIBOR USD + 4.25%, 1.000% Floor), 10/02/2025 (a)
|
321,845
|
227,506
|
||||
Heartland Dental, LLC
|
||||||
Senior Secured First Lien Term Loan 8.134% (1 Month LIBOR USD + 3.75%), 04/30/2025 (a)
|
802,870
|
744,060
|
||||
Senior Secured First Lien Term Loan 8.387% (1 Month LIBOR USD + 4.00%), 04/30/2025 (a)
|
1,108,125
|
1,032,495
|
||||
Option Care Health, Inc., Senior Secured First Lien Term Loan 7.134% (1 Month LIBOR USD + 2.75%, 0.500% Floor), 10/27/2028 (a)
|
768,240
|
763,919
|
||||
Pluto Acquisition I, Inc., Senior Secured First Lien Term Loan 8.735% (3 Month LIBOR USD + 4.00%), 06/22/2026 (a)
|
1,051,747
|
715,188
|
||||
Premier Dental Services, Inc.
|
||||||
Senior Secured First Lien Term Loan 9.235% (3 Month LIBOR USD + 4.50%, 0.750% Floor), 08/18/2028 (a)
|
308,129
|
283,350
|
||||
Senior Secured First Lien Delayed-Draw Term Loan 9.235% (3 Month LIBOR USD + 4.50%, 0.750% Floor), 08/18/2028 (a)
|
31,478
|
28,947
|
||||
Sotera Health Holdings, LLC, Senior Secured First Lien Term Loan 7.165% (3 Month LIBOR USD + 2.75%, 0.500% Floor), 12/11/2026 (a)
|
1,136,000
|
1,053,640
|
||||
U.S. Radiology Specialists, Inc., Senior Secured First Lien Term Loan 8.938% (3 Month LIBOR USD + 5.25%, 0.500% Floor), 12/15/2027 (a)
|
720,720
|
653,041
|
||||
Vizient, Inc., Senior Secured First Lien Term Loan 6.671% (1 Month SOFR USD + 2.25%, 0.500% Floor), 04/27/2029 (a)
|
812,915
|
813,118
|
||||
10,223,177
|
||||||
HEALTHCARE - LIFE SCIENCES - 2.10%
|
||||||
Avantor Funding, Inc., Senior Secured First Lien Term Loan 6.634% (1 Month LIBOR USD + 2.25%, 0.500% Floor), 11/08/2027 (a)
|
1,207,383
|
1,203,610
|
||||
Cambrex Corp., Senior Secured First Lien Term Loan 7.923% (1 Month SOFR USD + 3.50%, 0.750% Floor), 12/04/2026 (a)
|
1,522,797
|
1,483,013
|
||||
Curia Global, Inc., Senior Secured First Lien Term Loan 8.165% (3 Month LIBOR USD + 3.75%, 0.750% Floor), 08/31/2026 (a)
|
1,647,094
|
1,364,519
|
||||
ICON Luxembourg SARL, Senior Secured First Lien Term Loan 7.00% (3 Month LIBOR USD + 2.25%, 0.500% Floor), 07/03/2028 (a)
|
1,033,759
|
1,031,955
|
||||
Phoenix Newco, Inc., Senior Secured First Lien Term Loan 7.321% (1 Month LIBOR USD + 3.25%, 0.500% Floor), 11/15/2028 (a)
|
919,346
|
887,427
|
||||
PRA Health Sciences, Inc., Senior Secured First Lien Term Loan 7.00% (3 Month LIBOR USD + 2.25%, 0.500% Floor), 07/03/2028 (a)
|
257,562
|
257,112
|
||||
6,227,636
|
||||||
HEALTHCARE - MANAGED HEALTH CARE - 0.57%
|
||||||
Bella Holding Co., LLC, Senior Secured First Lien Term Loan 7.821% (1 Month LIBOR USD + 3.75%, 0.750% Floor), 05/10/2028 (a)
|
455,238
|
430,882
|
||||
Verscend Holding Corp., Senior Secured First Lien Term Loan 8.384% (1 Month LIBOR USD + 4.00%), 08/27/2025 (a)
|
1,258,831
|
1,253,324
|
||||
1,684,206
|
||||||
HEALTHCARE - PHARMACEUTICALS & BIOTECHNOLOGY - 0.43%
|
||||||
Organon & Co., Senior Secured First Lien Term Loan 7.75% (3 Month LIBOR USD + 3.00%, 0.500% Floor), 06/02/2028 (a)
|
1,288,807
|
1,279,489
|
||||
HEALTHCARE - REITs - 0.26%
|
||||||
AHP Health Partners, Inc., Senior Secured First Lien Term Loan 7.884% (1 Month LIBOR USD + 3.50%, 0.500% Floor), 08/24/2028 (a)
|
787,038
|
774,988
|
||||
INDUSTRIAL MACHINERY - 4.54%
|
||||||
AI Aqua Merger Sub, Inc., Senior Secured First Lien Term Loan 7.967% (1 Month SOFR USD + 3.75%, 0.500% Floor), 07/31/2028 (a)
|
905,450
|
855,084
|
||||
Ali Group North America Corp., Senior Secured First Lien Term Loan 6.438% (1 Month SOFR USD + 2.00%), 07/30/2029 (a)
|
614,689
|
610,847
|
||||
ASP Blade Holdings, Inc., Senior Secured First Lien Term Loan 8.73% (3 Month LIBOR USD + 4.00%, 0.500% Floor), 10/13/2028 (a)
|
995,541
|
798,300
|
||||
AZZ, Inc., Senior Secured First Lien Term Loan 8.673% (3 Month SOFR USD + 4.25%, 0.500% Floor), 05/11/2029 (a)
|
557,295
|
557,905
|
||||
Brookfield WEC Holdings, Inc., Senior Secured First Lien Term Loan 7.134% (1 Month LIBOR USD + 2.75%, 0.500% Floor), 08/01/2025 (a)
|
1,696,501
|
1,675,210
|
||||
Chart Industries, Inc., Senior Secured First Lien Term Loan 7.874%, 12/28/2029 (a)(g)
|
1,670,000
|
|
1,655,397
|
|||
Clark Equipment Co., Senior Secured First Lien Term Loan 7.18% (3 Month SOFR USD + 2.50%, 0.500% Floor), 04/20/2029 (a)
|
447,618
|
442,022
|
||||
Columbus McKinnon Corp., Senior Secured First Lien Term Loan 7.50% (3 Month LIBOR USD + 2.75%, 0.500% Floor), 05/15/2028 (a)
|
406,051
|
401,483
|
||||
Conair Holdings, LLC, Senior Secured First Lien Term Loan 7.424% (3 Month LIBOR USD + 3.75%, 0.500% Floor), 05/17/2028 (a)
|
608,454
|
514,904
|
||||
CPM Holdings, Inc.
|
||||||
Senior Secured First Lien Term Loan 7.62% (1 Month LIBOR USD + 3.50%), 11/17/2025 (a)
|
423,382
|
417,031
|
||||
Senior Secured Second Lien Term Loan 12.37% (1 Month LIBOR USD + 8.25%), 11/16/2026 (a)
|
219,444
|
215,422
|
||||
Filtration Group Corp., Senior Secured First Lien Term Loan 7.884% (1 Month LIBOR USD + 3.50%, 0.500% Floor), 10/20/2028 (a)
|
1,581,087
|
1,556,050
|
||||
Gates Global, LLC, Senior Secured First Lien Term Loan 7.823% (1 Month SOFR USD + 3.50%, 0.500% Floor), 11/16/2029 (a)
|
525,683
|
522,891
|
||||
Madison IAQ, LLC, Senior Secured First Lien Term Loan 7.988% (3 Month LIBOR USD + 3.25%, 0.500% Floor), 06/21/2028 (a)
|
601,835
|
561,440
|
||||
Penn Engineering & Manufacturing Corp., Senior Secured First Lien Term Loan 7.23% (3 Month LIBOR USD + 2.50%, 1.000% Floor), 06/27/2024 (a)
|
584,302
|
584,302
|
||||
Pro Mach Group, Inc., Senior Secured First Lien Term Loan 8.384% (1 Month LIBOR USD + 4.00%, 1.000% Floor), 08/31/2028 (a)
|
977,406
|
952,848
|
||||
TK Elevator Midco GMBH, Senior Secured First Lien Term Loan 6.871% (6 Month LIBOR USD + 3.50%, 0.500% Floor), 07/30/2027 (a)
|
612,256
|
590,687
|
||||
Vertiv Group Corp., Senior Secured First Lien Term Loan 6.892% (1 Month LIBOR USD + 2.75%), 03/02/2027 (a)
|
575,974
|
557,376
|
||||
13,469,199
|
||||||
LEISURE - CASINOS & GAMING - 3.35%
|
||||||
Aristocrat Technologies, Inc., Senior Secured First Lien Term Loan 6.93% (3 Month SOFR USD + 2.25%, 0.500% Floor), 05/24/2029 (a)
|
224,143
|
224,143
|
||||
Bally's Corp., Senior Secured First Lien Term Loan 7.542% (1 Month LIBOR USD + 3.25%, 0.500% Floor), 10/02/2028 (a)
|
419,877
|
389,646
|
||||
Entain Holdings (Gibraltar), Ltd.
|
||||||
Senior Secured First Lien Term Loan 7.23% (3 Month LIBOR USD + 2.50%, 0.500% Floor), 03/29/2027 (a)
|
735,795
|
731,542
|
||||
Senior Secured First Lien Term Loan 8.18% (3 Month SOFR USD + 3.50%, 0.500% Floor), 10/31/2029 (a)
|
760,000
|
757,625
|
||||
Everi Holdings, Inc., Senior Secured First Lien Term Loan 6.884% (1 Month LIBOR USD + 2.50%, 0.500% Floor), 08/03/2028 (a)
|
459,188
|
456,127
|
||||
Fertitta Entertainment, LLC, Senior Secured First Lien Term Loan 8.323% (1 Month SOFR USD + 4.00%, 0.500% Floor), 01/29/2029 (a)
|
1,054,886
|
1,005,048
|
||||
Golden Entertainment, Inc., Senior Secured First Lien Term Loan 7.39% (1 Month LIBOR USD + 3.00%, 0.750% Floor), 10/21/2024 (a)
|
440,765
|
440,214
|
||||
Penn National Gaming, Inc., Senior Secured First Lien Term Loan 7.173% (1 Month SOFR USD + 2.75%, 0.500% Floor), 05/03/2029 (a)
|
1,506,032
|
1,493,585
|
||||
Scientific Games International, Inc., Senior Secured First Lien Term Loan 7.417% (1 Month SOFR USD + 3.00%, 0.500% Floor), 04/16/2029 (a)
|
863,660
|
854,099
|
||||
Stars Group Holdings B.V.
|
||||||
Senior Secured First Lien Term Loan 6.98% (3 Month LIBOR USD + 2.25%), 07/21/2026 (a)
|
3,133,212
|
3,094,908
|
||||
Senior Secured First Lien Term Loan 8.092% (3 Month SOFR USD + 3.25%, 0.500% Floor), 07/21/2028 (a)
|
508,725
|
507,242
|
||||
9,954,179
|
||||||
LEISURE - HOTELS - 1.72%
|
||||||
Alterra Mountain Co., Senior Secured First Lien Term Loan 7.884% (1 Month LIBOR USD + 3.50%, 0.500% Floor), 08/17/2028 (a)
|
1,809,472
|
1,791,947
|
||||
Carnival Corp., Senior Secured First Lien Term Loan 7.634% (1 Month LIBOR USD + 3.25%, 0.750% Floor), 10/18/2028 (a)
|
486,090
|
456,439
|
||||
Herschend Entertainment Co., LLC, Senior Secured First Lien Term Loan 8.19% (1 Month LIBOR USD + 3.75%, 0.500% Floor), 08/28/2028 (a)
|
1,188,707
|
1,179,793
|
||||
Hilton Grand Vacations Borrower, LLC, Senior Secured First Lien Term Loan 7.384% (1 Month LIBOR USD + 3.00%, 0.500% Floor), 08/02/2028 (a)
|
438,450
|
436,093
|
||||
Lakeland Tours, LLC
|
||||||
Senior Secured First Lien Term Loan 10.415% (3 Month LIBOR USD + 6.00%, 1.250% Floor), 09/25/2025 (a)
|
239,594
|
196,068
|
||||
Senior Unsecured First Lien Term Loan 13.25% PIK, 09/27/2027
|
292,892
|
187,940
|
||||
United PF Holdings, LLC, Senior Secured First Lien Term Loan 8.73% (3 Month LIBOR USD + 4.00%), 12/30/2026 (a)
|
1,038,989
|
846,126
|
||||
5,094,406
|
||||||
LEISURE - RESTAURANTS - 1.52%
|
||||||
Dave & Buster's, Inc., Senior Secured First Lien Term Loan 9.438% (1 Month SOFR USD + 5.00%, 0.500% Floor), 06/29/2029 (a)
|
545,633
|
543,758
|
||||
IRB Holding Corp.
|
||||||
Senior Secured First Lien Term Loan 7.134% (1 Month LIBOR USD + 2.75%, 1.000% Floor), 02/05/2025 (a)
|
734,669
|
729,273
|
||||
Senior Secured First Lien Term Loan 7.317% (1 Month SOFR USD + 3.00%, 0.750% Floor), 12/15/2027 (a)
|
1,293,526
|
1,257,307
|
||||
Tacala, LLC, Senior Secured First Lien Term Loan 7.884% (1 Month LIBOR USD + 3.50%, 0.750% Floor), 02/05/2027 (a)
|
1,132,725
|
1,092,230
|
||||
Whatabrands, LLC, Senior Secured First Lien Term Loan 7.634% (1 Month LIBOR USD + 3.25%, 0.500% Floor), 08/03/2028 (a)
|
901,890
|
873,706
|
||||
4,496,274
|
||||||
MEDIA - BROADCASTING - 2.21%
|
||||||
EW Scripps Co.
|
||||||
Senior Secured First Lien Term Loan 6.946% (1 Month LIBOR USD + 2.5625%, 0.750% Floor), 05/01/2026 (a)
|
864,905
|
852,256
|
||||
Senior Secured First Lien Term Loan 7.134% (1 Month LIBOR USD + 2.75%, 0.750% Floor), 01/07/2028 (a)
|
873,326
|
851,418
|
||||
Gray Television, Inc., Senior Secured First Lien Term Loan 7.12% (1 Month LIBOR USD + 3.00%), 12/01/2028 (a)
|
1,727,550
|
1,681,304
|
||||
Hubbard Radio, LLC, Senior Secured First Lien Term Loan 8.64% (1 Month LIBOR USD + 4.25%, 1.000% Floor), 03/28/2025 (a)
|
475,118
|
422,855
|
||||
Learfield Communications, LLC, Senior Secured First Lien Term Loan 7.64% (1 Month LIBOR USD + 3.25%, 1.000% Floor), 12/01/2023 (a)
|
731,505
|
550,326
|
||||
Nexstar Broadcasting, Inc., Senior Secured First Lien Term Loan 6.884% (1 Month LIBOR USD + 2.50%), 09/18/2026 (a)
|
700,890
|
696,422
|
||||
Sinclair Television Group, Inc., Senior Secured First Lien Term Loan 6.89% (1 Month LIBOR USD + 2.50%), 09/30/2026 (a)
|
914,288
|
874,059
|
||||
Univision Communications, Inc.
|
||||||
Senior Secured First Lien Term Loan 7.134% (1 Month LIBOR USD + 2.75%, 1.000% Floor), 03/15/2024 (a)
|
107,264
|
107,287
|
||||
Senior Secured First Lien Term Loan 8.83% (3 Month SOFR USD + 4.25%, 0.500% Floor), 06/24/2029 (a)
|
520,385
|
515,441
|
||||
6,551,368
|
||||||
MEDIA - CABLE & SATELLITE - 4.26%
|
||||||
Connect U.S. Finco, LLC, Senior Secured First Lien Term Loan 7.89% (1 Month LIBOR USD + 3.50%, 1.000% Floor), 12/11/2026 (a)
|
1,799,909
|
1,782,845
|
||||
Coral-U.S. Co-Borrower, LLC, Senior Secured First Lien Term Loan 6.568% (1 Month LIBOR USD + 2.25%), 01/31/2028 (a)
|
585,000
|
567,596
|
||||
DIRECTV Financing, LLC, Senior Secured First Lien Term Loan 9.384% (1 Month LIBOR USD + 5.00%, 0.750% Floor), 08/02/2027 (a)
|
1,421,490
|
1,386,990
|
||||
Iridium Satellite, LLC, Senior Secured First Lien Term Loan 6.923% (1 Month LIBOR USD + 2.50%, 0.750% Floor), 11/04/2026 (a)
|
549,640
|
545,469
|
||||
Maxar Technologies, Ltd., Senior Secured First Lien Term Loan 8.673% (1 Month SOFR USD + 4.25%, 0.500% Floor), 06/14/2029 (a)
|
1,360,165
|
1,360,771
|
||||
Radiate Holdco, LLC, Senior Secured First Lien Term Loan 7.634% (1 Month LIBOR USD + 3.25%, 0.750% Floor), 09/25/2026 (a)
|
965,818
|
789,006
|
||||
Telenet Financing USD, LLC, Senior Secured First Lien Term Loan 6.318% (1 Month LIBOR USD + 2.00%), 04/28/2028 (a)
|
2,230,000
|
2,175,922
|
||||
Telesat Canada, Senior Secured First Lien Term Loan 7.17% (3 Month LIBOR USD + 2.75%), 12/07/2026 (a)
|
1,292,907
|
609,974
|
||||
UPC Financing Partnership, Senior Secured First Lien Term Loan 6.568% (1 Month LIBOR USD + 2.25%), 04/28/2028 (a)
|
765,000
|
748,266
|
||||
Virgin Media Bristol, LLC, Senior Secured First Lien Term Loan 6.818% (1 Month LIBOR USD + 2.50%), 01/31/2028 (a)
|
1,035,000
|
1,019,568
|
||||
WideOpenWest Finance, LLC, Senior Secured First Lien Term Loan 7.58% (3 Month SOFR USD + 3.00%, 0.500% Floor), 12/20/2028 (a)
|
737,550
|
715,424
|
||||
Xplornet Communications, Inc., Senior Secured First Lien Term Loan 8.384% (1 Month LIBOR USD + 4.00%, 0.500% Floor), 10/02/2028 (a)
|
1,197,351
|
941,417
|
||||
12,643,248
|
||||||
MEDIA - DIVERSIFIED - 1.33%
|
||||||
ABG Intermediate Holdings 2, LLC, Senior Secured First Lien Term Loan 7.634% (1 Month LIBOR USD + 3.25%, 0.750% Floor), 09/27/2024 (a)
|
750,379
|
746,548
|
||||
Arches Buyer, Inc., Senior Secured First Lien Term Loan 7.634% (1 Month LIBOR USD + 3.25%, 0.500% Floor), 12/06/2027 (a)
|
1,318,169
|
1,223,841
|
||||
Buzz Finco, LLC, Senior Secured First Lien Term Loan 7.134% (1 Month LIBOR USD + 2.75%), 01/29/2027 (a)
|
612,675
|
604,637
|
||||
Dotdash Meredith, Inc., Senior Secured First Lien Term Loan 8.224% (1 Month SOFR USD + 4.00%, 0.500% Floor), 12/01/2028 (a)
|
530,527
|
458,906
|
||||
Getty Images, Inc., Senior Secured First Lien Term Loan 8.938% (1 Month LIBOR USD + 4.50%), 02/19/2026 (a)
|
915,042
|
914,470
|
||||
3,948,402
|
||||||
MEDIA - ENTERTAINMENT - 3.01%
|
||||||
CDS U.S. Intermediate Holdings, Inc., Senior Secured First Lien Term Loan 10.726% (3 Month LIBOR USD + 6.00%, 1.000% Floor), 11/24/2025 (a)
|
642,873
|
640,864
|
||||
Cirque Du Soleil Holding, Senior Secured Second Lien Term Loan 4.642% (3 Month LIBOR USD + 1.00%, 1.000% Floor), 11/24/2027 (a)
|
393,207
|
385,630
|
||||
Creative Artists Agency, LLC
|
||||||
Senior Secured First Lien Term Loan 8.134% (1 Month LIBOR USD + 3.75%), 11/26/2026 (a)
|
572,040
|
569,357
|
||||
Senior Secured First Lien Term Loan 8.573% (1 Month SOFR USD + 4.25%, 1.000% Floor), 11/27/2026 (a)
|
174,125
|
173,363
|
||||
Crown Finance U.S., Inc.
|
||||||
Senior Secured First Lien Term Loan 13.882% (1 Month SOFR USD + 10.00%, 1.000% Floor), 09/07/2023 (a)
|
56,742
|
|
55,880
|
|||
Senior Secured First Lien Term Loan 14.417% (1 Month SOFR USD + 10.00%, 1.000% Floor), 09/07/2023 (a)
|
675,234
|
|
664,966
|
|||
Senior Secured First Lien Term Loan 5.487% (6 Month LIBOR USD + 2.75%, 1.000% Floor), 09/30/2026 (a)(j)
|
1,489,347
|
275,745
|
||||
Delta 2 (Lux) SARL, Senior Secured First Lien Term Loan 7.573% (1 Month SOFR USD + 3.25%, 0.500% Floor), 01/14/2030 (a)
|
850,000
|
850,638
|
||||
Lions Gate Capital Holdings, LLC, Senior Secured First Lien Term Loan 6.634% (1 Month LIBOR USD + 2.25%), 03/24/2025 (a)
|
429,483
|
411,230
|
||||
Nascar Holdings, LLC, Senior Secured First Lien Term Loan 6.884% (1 Month LIBOR USD + 2.50%), 10/19/2026 (a)
|
440,910
|
440,463
|
||||
Playtika Holding Corp., Senior Secured First Lien Term Loan 7.134% (1 Month LIBOR USD + 2.75%), 03/13/2028 (a)
|
2,391,307
|
2,288,182
|
||||
UFC Holdings, LLC, Senior Secured First Lien Term Loan 7.11% (3 Month LIBOR USD + 2.75%, 0.750% Floor), 04/29/2026 (a)
|
741,951
|
733,604
|
||||
William Morris Endeavor Entertainment, LLC, Senior Secured First Lien Term Loan 7.14% (1 Month LIBOR USD + 2.75%), 05/16/2025 (a)
|
980,828
|
962,193
|
||||
WMG Acquisition Corp., Senior Secured First Lien Term Loan 6.509% (1 Month LIBOR USD + 2.125%), 01/20/2028 (a)
|
498,077
|
493,096
|
||||
8,945,211
|
||||||
METALS & MINING - 0.46%
|
||||||
Atkore International, Inc., Senior Secured First Lien Term Loan 6.188% (6 Month LIBOR USD + 2.00%, 0.500% Floor), 05/26/2028 (a)
|
386,988
|
385,941
|
||||
GrafTech Finance, Inc., Senior Secured First Lien Term Loan 7.384% (1 Month LIBOR USD + 3.00%, 0.500% Floor), 02/12/2025 (a)
|
205,729
|
204,186
|
||||
Grinding Media, Inc.
|
|
|
|
|||
Senior Secured First Lien Term Loan 7.702% (3 Month LIBOR USD + 4.00%, 0.750% Floor), 10/12/2028 (a)
|
286,109
|
|
267,512
|
|||
Senior Secured First Lien Term Loan 7.702% (6 Month LIBOR USD + 4.00%, 0.750% Floor), 10/12/2028 (a)
|
359,692
|
|
336,312
|
|||
Senior Secured First Lien Term Loan 8.765% (3 Month LIBOR USD + 4.00%, 0.750% Floor), 10/12/2028 (a)
|
179,749
|
|
168,065
|
|||
1,362,016
|
||||||
MIDSTREAM - STORAGE & TRANSPORT - 1.50%
|
||||||
Buckeye Partners, LP, Senior Secured First Lien Term Loan 6.634% (1 Month LIBOR USD + 2.25%), 11/02/2026 (a)
|
675,992
|
673,071
|
||||
DT Midstream, Inc., Senior Secured First Lien Term Loan 6.438% (1 Month LIBOR USD + 2.00%, 0.500% Floor), 06/26/2028 (a)
|
229,614
|
230,260
|
||||
ITT Holdings, LLC, Senior Secured First Lien Term Loan 7.134% (1 Month LIBOR USD + 2.75%, 0.500% Floor), 07/10/2028 (a)
|
572,750
|
567,023
|
||||
Northriver Midstream Finance, LP, Senior Secured First Lien Term Loan 6.924% (3 Month LIBOR USD + 3.25%), 10/01/2025 (a)
|
722,913
|
718,846
|
||||
Oryx Midstream Services Permian Basin, LLC, Senior Secured First Lien Term Loan 7.924% (3 Month LIBOR USD + 3.25%, 0.500% Floor), 10/05/2028 (a)
|
1,264,874
|
1,251,928
|
||||
TransMontaigne Operating Co., LP
|
|
|
|
|||
Senior Secured First Lien Term Loan 7.854% (1 Month LIBOR USD + 3.50%, 0.500% Floor), 11/17/2028 (a)
|
513,315
|
|
504,493
|
|||
Senior Secured First Lien Term Loan 7.889% (1 Month LIBOR USD + 3.50%, 0.500% Floor), 11/17/2028 (a)
|
513,315
|
|
504,494
|
|||
4,450,115
|
||||||
OIL & GAS - EQUIPMENT & SERVICES - 0.13%
|
||||||
U.S. Silica Co., Senior Secured First Lien Term Loan 8.438% (1 Month LIBOR USD + 4.00%, 1.000% Floor), 05/01/2025 (a)
|
399,643
|
396,646
|
||||
PACKAGING - 2.14%
|
||||||
Clydesdale Acquisition Holdings, Inc., Senior Secured First Lien Term Loan 8.598% (1 Month SOFR USD + 4.175%, 0.500% Floor), 04/13/2029 (a)
|
622,870
|
594,763
|
||||
LABL, Inc., Senior Secured First Lien Term Loan 9.384% (1 Month LIBOR USD + 5.00%, 0.500% Floor), 10/30/2028 (a)
|
829,620
|
789,694
|
||||
Mauser Packaging Solutions Holding Co., Senior Secured First Lien Term Loan 7.37% (1 Month LIBOR USD + 3.25%), 04/03/2024 (a)
|
1,587,386
|
1,552,994
|
||||
Plastipak Packaging, Inc., Senior Secured First Lien Term Loan 6.938% (1 Month LIBOR USD + 2.50%, 0.500% Floor), 12/01/2028 (a)
|
492,782
|
488,251
|
||||
Pregis Topco, LLC
|
||||||
Senior Secured First Lien Term Loan 8.134% (1 Month LIBOR USD + 3.75%, 0.500% Floor), 07/31/2026 (a)
|
543,125
|
528,189
|
||||
Senior Secured First Lien Term Loan 8.188% (1 Month SOFR USD + 3.75%), 07/31/2026 (a)
|
528,650
|
515,236
|
||||
RLG Holdings, LLC, Senior Secured First Lien Term Loan 8.384% (1 Month LIBOR USD + 4.00%, 0.750% Floor), 07/07/2028 (a)
|
582,120
|
549,620
|
||||
Sabert Corp., Senior Secured First Lien Term Loan 8.938% (1 Month LIBOR USD + 4.50%, 1.000% Floor), 12/10/2026 (a)
|
458,480
|
456,188
|
||||
Trident TPI Holdings, Inc.
|
||||||
Senior Secured First Lien Term Loan 7.674% (3 Month LIBOR USD + 4.00%, 0.500% Floor), 09/15/2028 (a)
|
805,156
|
775,108
|
||||
Senior Secured First Lien Term Loan 7.674% (3 Month LIBOR USD + 4.00%, 0.500% Floor), 09/15/2028 (a)
|
71,791
|
|
69,111
|
|||
Senior Secured First Lien Term Loan 8.071% (1 Month LIBOR USD + 4.00%, 0.500% Floor), 09/15/2028 (a)
|
42,915
|
|
41,314
|
|||
6,360,468
|
||||||
RETAIL - FOOD & DRUG - 0.35%
|
||||||
BJ's Wholesale Club, Inc., Senior Secured First Lien Term Loan 6.27% (1 Month LIBOR USD + 2.00%), 02/02/2024 (a)
|
645,834
|
646,977
|
||||
JP Intermediate B, LLC, Senior Secured First Lien Term Loan 9.915% (3 Month LIBOR USD + 5.50%, 1.000% Floor), 11/20/2025 (a)
|
517,663
|
377,894
|
||||
1,024,871
|
||||||
RETAILING - 1.95%
|
||||||
Autokiniton U.S. Holdings, Inc., Senior Secured First Lien Term Loan 8.792% (1 Month LIBOR USD + 4.50%, 0.500% Floor), 04/06/2028 (a)
|
662,905
|
643,435
|
||||
Belron Finance U.S., LLC, Senior Secured First Lien Term Loan 7.063% (3 Month LIBOR USD + 2.50%, 0.500% Floor), 04/13/2028 (a)
|
1,203,884
|
1,195,420
|
||||
Great Outdoors Group, LLC, Senior Secured First Lien Term Loan 8.134% (1 Month LIBOR USD + 3.75%, 0.750% Floor), 03/06/2028 (a)
|
1,149,650
|
1,107,257
|
||||
Harbor Freight Tools U.S.A., Inc., Senior Secured First Lien Term Loan 7.134% (1 Month LIBOR USD + 2.75%, 0.500% Floor), 10/19/2027 (a)
|
490,973
|
468,989
|
||||
Hoya Midco, LLC, Senior Secured First Lien Term Loan 7.573% (1 Month SOFR USD + 3.25%, 0.500% Floor), 01/26/2029 (a)
|
561,663
|
556,047
|
||||
Michaels Cos., Inc., Senior Secured First Lien Term Loan 8.98% (3 Month LIBOR USD + 4.25%, 0.750% Floor), 04/14/2028 (a)
|
583,120
|
505,533
|
||||
Pug, LLC, Senior Secured First Lien Term Loan 7.884% (1 Month LIBOR USD + 3.50%), 02/12/2027 (a)
|
911,800
|
759,074
|
||||
Restoration Hardware, Inc., Senior Secured First Lien Term Loan 6.884% (1 Month LIBOR USD + 2.50%, 0.500% Floor), 10/20/2028 (a)
|
498,191
|
459,706
|
||||
Sally Holdings, LLC, Senior Secured First Lien Term Loan 6.64% (1 Month LIBOR USD + 2.25%), 07/05/2024 (a)
|
93,632
|
93,398
|
||||
5,788,859
|
||||||
TECHNOLOGY - SOFTWARE & SERVICES - 13.47%
|
||||||
Access CIG, LLC
|
||||||
Senior Secured First Lien Term Loan 7.821% (1 Month LIBOR USD + 3.75%), 02/27/2025 (a)
|
1,901,605
|
1,866,939
|
||||
Senior Secured Second Lien Term Loan 11.821% (1 Month LIBOR USD + 7.75%), 02/27/2026 (a)
|
616,742
|
548,901
|
||||
Almonde, Inc., Senior Secured First Lien Term Loan 6.871% (6 Month LIBOR USD + 3.50%, 1.000% Floor), 06/13/2024 (a)
|
2,980,803
|
2,644,211
|
||||
Barracuda Parent, LLC, Senior Secured First Lien Term Loan 8.594% (1 Month SOFR USD + 4.50%, 0.500% Floor), 08/15/2029 (a)
|
1,040,000
|
1,004,754
|
||||
Boxer Parent Co., Inc., Senior Secured First Lien Term Loan 8.134% (1 Month LIBOR USD + 3.75%), 10/02/2025 (a)
|
1,089,672
|
1,045,840
|
||||
CCC Information Services, Inc., Senior Secured First Lien Term Loan 6.634% (1 Month LIBOR USD + 2.25%, 0.500% Floor), 09/21/2028 (a)
|
619,740
|
616,022
|
||||
Central Parent, Inc., Senior Secured First Lien Term Loan 9.08% (3 Month SOFR USD + 4.50%, 0.500% Floor), 07/06/2029 (a)
|
955,000
|
948,000
|
||||
CommerceHub, Inc., Senior Secured First Lien Term Loan 8.777% (6 Month SOFR USD + 4.00%, 0.750% Floor), 12/29/2027 (a)
|
663,460
|
611,710
|
||||
Connectwise, LLC, Senior Secured First Lien Term Loan 7.886% (3 Month LIBOR USD + 3.50%, 0.500% Floor), 09/29/2028 (a)
|
1,159,910
|
1,104,815
|
||||
Dawn Acquisition, LLC, Senior Secured First Lien Term Loan 7.424% (3 Month LIBOR USD + 3.75%), 12/31/2025 (a)
|
483,748
|
319,791
|
||||
DCert Buyer, Inc., Senior Secured First Lien Term Loan 8.696% (6 Month SOFR USD + 4.00%), 10/16/2026 (a)
|
1,042,155
|
1,009,030
|
||||
E2Open, LLC, Senior Secured First Lien Term Loan 7.685% (1 Month LIBOR USD + 3.50%, 0.500% Floor), 02/04/2028 (a)
|
813,093
|
800,644
|
||||
EagleView Technology Corp., Senior Secured First Lien Term Loan 8.23% (3 Month LIBOR USD + 3.50%), 08/14/2025 (a)
|
854,400
|
753,342
|
||||
Ensono, LP, Senior Secured First Lien Term Loan 8.901% (6 Month LIBOR USD + 3.75%, 0.750% Floor), 05/19/2028 (a)
|
772,861
|
696,541
|
||||
Gen Digital, Inc., Senior Secured First Lien Term Loan 6.423% (1 Month SOFR USD + 2.00%, 0.500% Floor), 09/12/2029 (a)
|
1,515,000
|
1,492,593
|
||||
GI Consilio Parent, LLC, Senior Secured First Lien Term Loan 8.384% (1 Month LIBOR USD + 4.00%, 0.500% Floor), 05/12/2028 (a)
|
295,486
|
280,289
|
||||
Greeneden U.S. Holdings II, LLC, Senior Secured First Lien Term Loan 8.384% (1 Month LIBOR USD + 4.00%, 0.750% Floor), 12/01/2027 (a)
|
556,371
|
535,393
|
||||
Hyland Software, Inc., Senior Secured First Lien Term Loan 7.884% (1 Month LIBOR USD + 3.50%, 0.750% Floor), 07/01/2024 (a)
|
1,365,780
|
1,350,244
|
||||
McAfee Corp., Senior Secured First Lien Term Loan 7.974% (1 Month SOFR USD + 3.75%, 0.500% Floor), 03/01/2029 (a)
|
1,886,717
|
1,761,382
|
||||
Mitchell International, Inc., Senior Secured First Lien Term Loan 8.415% (3 Month LIBOR USD + 3.75%, 0.500% Floor), 10/16/2028 (a)
|
1,999,888
|
1,848,866
|
||||
Moneygram International, Inc., Senior Secured First Lien Term Loan 8.884% (1 Month LIBOR USD + 4.50%, 0.500% Floor), 07/21/2026 (a)
|
195,090
|
194,998
|
||||
NAB Holdings, LLC, Senior Secured First Lien Term Loan 7.73% (3 Month SOFR USD + 3.00%, 0.500% Floor), 11/24/2028 (a)
|
500,640
|
488,499
|
||||
N-Able International Holdings II, LLC, Senior Secured First Lien Term Loan 7.735% (3 Month LIBOR USD + 3.00%, 0.500% Floor), 07/19/2028 (a)
|
506,588
|
493,923
|
||||
Open Text Corp., Senior Secured First Lien Term Loan 7.301%, 11/16/2029 (a)(g)
|
2,335,542
|
|
2,286,788
|
|||
Optiv Security, Inc., Senior Secured First Lien Term Loan 7.42% (6 Month LIBOR USD + 3.25%, 1.000% Floor), 02/01/2024 (a)
|
2,603,003
|
2,496,175
|
||||
Project Alpha Intermediate Holding, Inc., Senior Secured First Lien Term Loan 8.39% (1 Month LIBOR USD + 4.00%), 04/26/2024 (a)
|
2,322,165
|
2,271,078
|
||||
Proofpoint, Inc., Senior Secured First Lien Term Loan 7.985% (3 Month LIBOR USD + 3.25%, 0.500% Floor), 08/31/2028 (a)
|
1,436,490
|
1,384,812
|
||||
RealPage, Inc., Senior Secured First Lien Term Loan 7.384% (1 Month LIBOR USD + 3.00%, 0.500% Floor), 04/24/2028 (a)
|
1,206,961
|
1,150,234
|
||||
Rocket Software, Inc.
|
||||||
Senior Secured First Lien Term Loan 8.634% (1 Month LIBOR USD + 4.25%), 11/28/2025 (a)
|
330,841
|
318,890
|
||||
Senior Secured First Lien Term Loan 8.634% (1 Month LIBOR USD + 4.25%, 0.500% Floor), 11/28/2025 (a)
|
216,536
|
209,093
|
||||
Sedgwick Claims Management Services, Inc.
|
||||||
Senior Secured First Lien Term Loan 7.634% (1 Month LIBOR USD + 3.25%), 12/31/2025 (a)
|
443,159
|
431,803
|
||||
Senior Secured First Lien Term Loan 8.134% (1 Month LIBOR USD + 3.75%), 09/03/2026 (a)
|
158,577
|
155,943
|
||||
SolarWinds Holdings, Inc., Senior Secured First Lien Term Loan 8.323% (1 Month SOFR USD + 4.00%), 02/05/2027 (a)
|
1,064,301
|
1,055,430
|
||||
Sovos Compliance, LLC, Senior Secured First Lien Term Loan 8.571% (1 Month LIBOR USD + 4.50%, 0.500% Floor), 08/11/2028 (a)
|
494,022
|
456,352
|
||||
SS&C Technologies, Inc.
|
||||||
Senior Secured First Lien Term Loan 6.673% (1 Month SOFR USD + 2.25%, 0.500% Floor), 03/22/2029 (a)
|
604,526
|
594,893
|
||||
Senior Secured First Lien Term Loan 6.673% (1 Month SOFR USD + 2.25%, 0.500% Floor), 03/22/2029 (a)
|
401,207
|
394,814
|
||||
TIBCO Software, Inc., Senior Secured First Lien Term Loan 9.18% (3 Month SOFR USD + 4.50%, 0.500% Floor), 03/30/2029 (a)
|
600,000
|
537,321
|
||||
TierPoint, LLC, Senior Secured First Lien Term Loan 8.134% (1 Month LIBOR USD + 3.75%, 0.750% Floor), 05/05/2026 (a)
|
433,693
|
406,721
|
||||
UKG, Inc.
|
||||||
Senior Secured First Lien Term Loan 6.998% (3 Month LIBOR USD + 3.25%, 0.500% Floor), 05/04/2026 (a)
|
974,738
|
929,657
|
||||
Senior Secured First Lien Term Loan 8.134% (1 Month LIBOR USD + 3.75%), 05/04/2026 (a)
|
724,658
|
700,070
|
||||
VM Consolidated, Inc., Senior Secured First Lien Term Loan 7.634% (1 Month LIBOR USD + 3.25%), 03/24/2028 (a)
|
657,492
|
654,863
|
||||
VS Buyer, LLC, Senior Secured First Lien Term Loan 7.384% (1 Month LIBOR USD + 3.00%), 02/26/2027 (a)
|
455,828
|
444,147
|
||||
WEX, Inc., Senior Secured First Lien Term Loan 6.634% (1 Month LIBOR USD + 2.25%), 03/31/2028 (a)
|
704,453
|
701,371
|
||||
39,997,182
|
||||||
TECHNOLOGY HARDWARE - 1.29%
|
||||||
EOS U.S. Finco, LLC, Senior Secured First Lien Term Loan 9.612% (3 Month SOFR USD + 6.00%, 0.500% Floor), 10/05/2029 (a)
|
422,266
|
412,237
|
||||
II-VI, Inc., Senior Secured First Lien Term Loan 7.134% (1 Month LIBOR USD + 2.75%, 0.500% Floor), 06/29/2029 (a)
|
921,844
|
914,469
|
||||
Ingram Micro, Inc., Senior Secured First Lien Term Loan 8.23% (3 Month LIBOR USD + 3.50%, 0.500% Floor), 06/30/2028 (a)
|
531,900
|
525,251
|
||||
MKS Instruments, Inc., Senior Secured First Lien Term Loan 7.171% (1 Month SOFR USD + 2.75%, 0.500% Floor), 08/17/2029 (a)
|
1,283,783
|
1,271,632
|
||||
Presidio Holdings, Inc.
|
|
|
|
|||
Senior Secured First Lien Term Loan 7.89% (1 Month LIBOR USD + 3.50%), 01/22/2027 (a)
|
28,899
|
|
28,493
|
|||
Senior Secured First Lien Term Loan 7.92% (3 Month LIBOR USD + 3.50%), 01/22/2027 (a)
|
693,576
|
|
683,824
|
|||
3,835,906
|
||||||
TELECOMMUNICATION SERVICES - DIVERSIFIED - 2.58%
|
||||||
Cablevision Lightpath, LLC, Senior Secured First Lien Term Loan 7.568% (1 Month LIBOR USD + 3.25%, 0.500% Floor), 11/30/2027 (a)
|
145,923
|
139,996
|
||||
Cincinnati Bell, Inc., Senior Secured First Lien Term Loan 7.673% (1 Month SOFR USD + 3.25%, 0.500% Floor), 11/22/2028 (a)
|
574,200
|
565,013
|
||||
Consolidated Communications, Inc., Senior Secured First Lien Term Loan 7.875% (1 Month LIBOR USD + 3.50%, 0.750% Floor), 10/04/2027 (a)
|
933,868
|
827,641
|
||||
Eagle Broadband Investments, LLC, Senior Secured First Lien Term Loan 7.75% (3 Month LIBOR USD + 3.00%, 0.750% Floor), 11/12/2027 (a)
|
615,980
|
591,981
|
||||
Lumen Technologies, Inc., Senior Secured First Lien Term Loan 6.634% (1 Month LIBOR USD + 2.25%), 03/15/2027 (a)
|
2,328,303
|
2,215,415
|
||||
Numericable U.S., LLC, Senior Secured First Lien Term Loan 8.65% (3 Month LIBOR USD + 4.00%), 08/14/2026 (a)
|
755,701
|
705,009
|
||||
Voyage U.S., LLC, Senior Secured First Lien Term Loan 7.743% (3 Month LIBOR USD + 3.50%, 0.500% Floor), 07/20/2028 (a)
|
474,988
|
452,426
|
||||
Zayo Group Holdings, Inc.
|
||||||
Senior Secured First Lien Term Loan 7.384% (1 Month LIBOR USD + 3.00%), 03/09/2027 (a)
|
1,272,474
|
1,036,455
|
||||
Senior Secured First Lien Term Loan 8.573% (1 Month SOFR USD + 4.25%, 0.500% Floor), 03/09/2027 (a)
|
367,225
|
306,517
|
||||
Ziggo Financing Partnership, Senior Secured First Lien Term Loan 6.818% (1 Month LIBOR USD + 2.50%), 04/28/2028 (a)
|
845,000
|
825,924
|
||||
7,666,377
|
||||||
TELECOMMUNICATION SERVICES - WIRELESS - 0.17%
|
||||||
CCI Buyer, Inc., Senior Secured First Lien Term Loan 8.58% (3 Month SOFR USD + 4.00%, 0.750% Floor), 12/17/2027 (a)
|
535,463
|
512,973
|
||||
TRANSPORTATION - 2.47%
|
||||||
AAdvantage Loyalty IP, Ltd., Senior Secured First Lien Term Loan 8.993% (3 Month LIBOR USD + 4.75%, 0.750% Floor), 04/20/2028 (a)
|
727,184
|
725,253
|
||||
Atlas CC Acquisition Corp.
|
||||||
Senior Secured First Lien Term Loan 8.985% (3 Month LIBOR USD + 4.25%, 0.750% Floor), 05/25/2028 (a)
|
1,102,541
|
933,615
|
||||
Senior Secured First Lien Term Loan 8.985% (3 Month LIBOR USD + 4.25%, 0.750% Floor), 05/25/2028 (a)
|
233,088
|
197,376
|
||||
Avis Budget Car Rental, LLC, Senior Secured First Lien Term Loan 7.923% (1 Month SOFR USD + 3.50%, 0.500% Floor), 03/15/2029 (a)
|
211,481
|
208,838
|
||||
Brown Group Holding, LLC
|
|
|
|
|||
Senior Secured First Lien Term Loan 7.844% (3 Month SOFR USD + 3.75%, 0.500% Floor), 07/02/2029 (a)
|
385,664
|
|
385,031
|
|||
Senior Secured First Lien Term Loan 8.073% (1 Month SOFR USD + 3.75%, 0.500% Floor), 07/02/2029 (a)
|
149,994
|
|
149,748
|
|||
Hertz Corp.
|
||||||
Senior Secured First Lien Term Loan 7.63% (1 Month LIBOR USD + 3.25%, 0.500% Floor), 06/30/2028 (a)
|
381,249
|
374,471
|
||||
Senior Secured First Lien Term Loan 7.63% (1 Month LIBOR USD + 3.25%, 0.500% Floor), 06/30/2028 (a)
|
72,945
|
71,648
|
||||
Kenan Advantage Group, Inc., Senior Secured First Lien Term Loan 8.134% (1 Month LIBOR USD + 3.75%, 0.750% Floor), 03/24/2026 (a)
|
482,741
|
471,792
|
||||
Lasership, Inc., Senior Secured First Lien Term Loan 9.23% (6 Month LIBOR USD + 4.50%, 0.750% Floor), 05/08/2028 (a)
|
1,588,651
|
1,151,104
|
||||
PODS, LLC, Senior Secured First Lien Term Loan 7.384% (1 Month LIBOR USD + 3.00%, 0.750% Floor), 03/31/2028 (a)
|
973,719
|
924,425
|
||||
Uber Technologies, Inc.
|
||||||
Senior Secured First Lien Term Loan 8.235% (3 Month LIBOR USD + 3.50%), 04/04/2025 (a)
|
896,319
|
896,798
|
||||
Senior Secured First Lien Term Loan 8.235% (3 Month LIBOR USD + 3.50%), 02/25/2027 (a)
|
331,769
|
331,591
|
||||
WWEX UNI TopCo Holdings, LLC, Senior Secured First Lien Term Loan 8.73% (3 Month LIBOR USD + 4.00%, 0.750% Floor), 07/26/2028 (a)
|
567,270
|
520,984
|
||||
7,342,674
|
||||||
UTILITIES - POWER - 0.70%
|
||||||
Calpine Construction Finance Co., LP, Senior Secured First Lien Term Loan 6.384% (1 Month LIBOR USD + 2.00%), 01/15/2025 (a)
|
833,232
|
832,449
|
||||
Calpine Corp., Senior Secured First Lien Term Loan 6.89% (1 Month LIBOR USD + 2.50%), 12/16/2027 (a)
|
372,400
|
369,311
|
||||
Eastern Power, LLC, Senior Secured First Lien Term Loan 8.48% (3 Month LIBOR USD + 3.75%, 1.000% Floor), 10/02/2025 (a)
|
115,228
|
103,121
|
||||
Lightstone Holdco, LLC
|
||||||
Senior Secured First Lien Term Loan 10.073% (1 Month SOFR USD + 5.75%, 1.000% Floor), 02/01/2027 (a)
|
787,997
|
724,957
|
||||
Senior Secured First Lien Term Loan 10.073% (1 Month SOFR USD + 5.75%, 1.000% Floor), 02/01/2027 (a)
|
44,568
|
41,003
|
||||
New Frontera Holdings, LLC, Senior Secured Second Lien Term Loan 5.174% (3 Month LIBOR USD + 1.50%, 1.000% Floor), 07/28/2028 (a)
|
57,484
|
14,371
|
||||
2,085,212
|
||||||
TOTAL BANK LOANS (Cost $259,153,202)
|
|
|
247,402,260
|
|||
CORPORATE BONDS - 10.57% (f)
|
||||||
AEROSPACE & DEFENSE - 0.62%
|
||||||
TransDigm, Inc. 6.25%, 03/15/2026 (h)
|
1,850,000
|
1,828,522
|
||||
BUILDING PRODUCTS - 0.15%
|
||||||
Standard Industries, Inc. 3.375%, 01/15/2031 (h)
|
600,000
|
453,521
|
||||
CHEMICALS - 0.16%
|
||||||
Olympus Water U.S. Holding Corp. 7.125%, 10/01/2027 (h)
|
490,000
|
469,810
|
||||
COMMERCIAL SERVICES - 0.42%
|
||||||
Garda World Security Corp. 4.625%, 02/15/2027 (c)(h)
|
710,000
|
628,137
|
||||
Tempo Acquisition, LLC / Tempo Acquisition Finance Corp. 5.75%, 06/01/2025 (h)
|
625,000
|
627,148
|
||||
1,255,285
|
||||||
CONSTRUCTION & ENGINEERING - 0.19%
|
||||||
Pike Corp. 5.50%, 09/01/2028 (h)
|
638,000
|
558,805
|
||||
ENVIRONMENTAL SERVICES - 0.38%
|
||||||
GFL Environmental, Inc. 4.00%, 08/01/2028 (c)(h)
|
541,000
|
463,266
|
||||
Stericycle, Inc. 5.375%, 07/15/2024 (h)
|
679,000
|
666,489
|
||||
1,129,755
|
||||||
HEALTHCARE - EQUIPMENT & SUPPLIES - 0.21%
|
||||||
Garden Spinco Corp. 8.625%, 07/20/2030 (h)
|
589,000
|
625,191
|
||||
HEALTHCARE - FACILITIES - 1.63%
|
||||||
DaVita, Inc. 3.75%, 02/15/2031 (h)
|
925,000
|
692,413
|
||||
Global Medical Response, Inc. 6.50%, 10/01/2025 (h)
|
650,000
|
466,239
|
||||
Legacy LifePoint Health, LLC 4.375%, 02/15/2027 (h)
|
370,000
|
313,538
|
||||
RegionalCare Hospital Partners Holdings, Inc. / LifePoint Health, Inc. 9.75%, 12/01/2026 (h)
|
2,310,000
|
1,863,848
|
||||
Tenet Healthcare Corp. 6.25%, 02/01/2027 (h)
|
1,570,000
|
1,502,395
|
||||
4,838,433
|
||||||
HEALTHCARE - MANAGED HEALTH CARE - 0.33%
|
||||||
Verscend Escrow Corp. 9.75%, 08/15/2026 (h)
|
1,010,000
|
991,679
|
||||
HEALTHCARE - PHARMACEUTICALS & BIOTECHNOLOGY - 0.45%
|
||||||
Teva Pharmaceutical Finance Netherlands III B.V. 3.15%, 10/01/2026 (c)
|
1,515,000
|
1,327,942
|
||||
HEALTHCARE - REITs - 0.29%
|
||||||
MPT Operating Partnership, LP / MPT Finance Corp. 3.50%, 03/15/2031
|
1,270,000
|
873,218
|
||||
INDUSTRIAL MACHINERY - 0.24%
|
||||||
WESCO Distribution, Inc. 7.125%, 06/15/2025 (h)
|
715,000
|
725,513
|
||||
LEISURE - CASINOS & GAMING - 1.80%
|
||||||
Caesars Entertainment, Inc. 6.25%, 07/01/2025 (h)
|
2,225,000
|
2,168,571
|
||||
International Game Technology PLC 6.50%, 02/15/2025 (c)(h)
|
1,286,000
|
1,295,928
|
||||
Premier Entertainment Sub, LLC / Premier Entertainment Finance Corp.
|
||||||
5.625%, 09/01/2029 (h)
|
561,000
|
414,411
|
||||
5.875%, 09/01/2031 (h)
|
562,000
|
398,289
|
||||
VICI Properties, LP / VICI Note Co., Inc. 3.50%, 02/15/2025 (h)
|
1,145,000
|
1,081,407
|
||||
5,358,606
|
||||||
LEISURE - RESTAURANTS - 0.21%
|
||||||
CEC Entertainment, LLC 6.75%, 05/01/2026 (h)
|
660,000
|
614,625
|
||||
MEDIA - CABLE & SATELLITE - 0.34%
|
||||||
DISH DBS Corp. 5.125%, 06/01/2029
|
575,000
|
372,068
|
||||
Hughes Satellite Systems Corp. 6.625%, 08/01/2026
|
675,000
|
630,781
|
||||
1,002,849
|
||||||
MEDIA - ENTERTAINMENT - 0.30%
|
||||||
Playtika Holding Corp. 4.25%, 03/15/2029 (h)
|
1,130,000
|
888,463
|
||||
METALS & MINING - 0.03%
|
||||||
GrafTech Finance, Inc. 4.625%, 12/15/2028 (h)
|
127,000
|
104,482
|
||||
PACKAGING - 0.25%
|
||||||
Ball Corp. 5.25%, 07/01/2025
|
758,000
|
749,186
|
||||
RETAIL - FOOD & DRUG - 0.16%
|
||||||
U.S. Foods, Inc. 6.25%, 04/15/2025 (h)
|
465,000
|
460,891
|
||||
RETAILING - 0.23%
|
||||||
QVC, Inc. 4.85%, 04/01/2024
|
730,000
|
676,528
|
||||
TECHNOLOGY - SOFTWARE & SERVICES - 1.16%
|
||||||
Boxer Parent Co., Inc. 7.125%, 10/02/2025 (h)
|
385,000
|
375,025
|
||||
Elastic N.V. 4.125%, 07/15/2029 (c)(h)
|
844,000
|
682,775
|
||||
Gen Digital, Inc. 5.00%, 04/15/2025 (h)
|
1,440,000
|
1,403,956
|
||||
Sabre GLBL, Inc. 7.375%, 09/01/2025 (h)
|
1,025,000
|
981,169
|
||||
3,442,925
|
||||||
TELECOMMUNICATION SERVICES - DIVERSIFIED - 0.56%
|
||||||
Frontier Communications Holdings, LLC 5.00%, 05/01/2028 (h)
|
1,000,000
|
870,310
|
||||
Northwest Fiber, LLC / Northwest Fiber Finance Sub, Inc.
|
||||||
4.75%, 04/30/2027 (h)
|
349,000
|
307,508
|
||||
6.00%, 02/15/2028 (h)
|
622,000
|
482,382
|
||||
1,660,200
|
||||||
TRANSPORTATION - 0.46%
|
||||||
Uber Technologies, Inc. 8.00%, 11/01/2026 (h)
|
1,350,000
|
1,357,386
|
||||
TOTAL CORPORATE BONDS (Cost $34,437,498)
|
|
|
31,393,815
|
|||
Shares | ||||||
EQUITY - 0.00%
|
||||||
UTILITIES - POWER - 0.00%
|
||||||
Frontera Generation Holdings, LLC (b)
|
479
|
7
|
||||
TOTAL EQUITY (Cost $2,668)
|
|
|
7
|
|||
|
||||||
WARRANT - 0.00%
|
||||||
MEDIA - ENTERTAINMENT - 0.00%
|
||||||
Crown Finance U.S., Inc. (b)(d)
|
98,930
|
5,980
|
||||
TOTAL WARRANT (Cost $30,928)
|
|
|
5,980
|
|||
MONEY MARKET FUND - 2.84%
|
||||||
First American Government Obligations Fund - Class X, 4.10% (e)
|
8,417,972
|
8,417,972
|
||||
TOTAL MONEY MARKET FUND (Cost $8,417,972)
|
|
|
8,417,972
|
|||
Total Investments (Cost $302,042,268) - 96.75%
|
287,220,034
|
|||||
Other Assets in Excess of Liabilities - 3.25%
|
9,645,064
|
|||||
TOTAL NET ASSETS - 100.00%
|
$ |
296,865,098
|
Percentages are stated as a percent of net assets.
|
LIBOR
|
London Interbank Offered Rate
|
|||
PIK
|
Payment-in-kind
|
|||
REIT
|
Real Estate Investment Trust
|
|||
SOFR
|
Secured Overnight Funding Rate
|
|||
(a)
|
Variable rate securities. The coupon rate shown is the effective interest rate as of December 31, 2022.
|
|||
(b)
|
Non-income producing security.
|
|||
(c)
|
U.S. traded security of a foreign issuer.
|
|||
(d)
|
Foreign issued security.
|
|||
(e)
|
Rate shown is the 7-day annualized yield as of December 31, 2022.
|
|||
(f)
|
All or a portion is posted as collateral for delayed settlement securities.
|
|||
(g)
|
Final terms of the bank loan are not yet known, so reference index and spread information may not be presented.
|
|||
(h)
|
Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended, and may be sold only to dealers
|
|||
in the program or other "qualified institutional buyers." As of December 31, 2022, the value of these investments was
|
||||
$26,764,092 or 9.02% of total net assets.
|
||||
(i)
|
All or a portion of the loan is unfunded.
|
|||
(j)
|
Security in default.
|
|||
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI,
|
||||
Inc. and Standard & Poor's Financial Services LLC (“S&P”). GICS is a service mark of MSCI and S&P and has
|
||||
been licensed for use by Shenkman Capital Management, Inc. Industries presented are at the discretion
|
||||
of Shenkman Capital Management, Inc. and therefore may not follow the exact naming convention prescribed by GICS.
|
Shenkman Capital Floating Rate High Income Fund
|
|||||||||
Summary of Fair Value Disclosure at December 31, 2022 (Unaudited)
|
|||||||||
The Fund utilizes various methods to measure the fair value of its investments on a recurring basis. Accounting
|
|||||||||
principles generally accepted in the United States of America ("U.S. GAAP") establish a hierarchy that prioritizes
|
|||||||||
inputs to valuation methods. The three levels of inputs are:
|
Level 1 –
|
Unadjusted quoted prices in active markets for identical assets or liabilities that the
|
||||||||
Fund has the ability to access.
|
|||||||||
Level 2 –
|
Observable inputs other than quoted prices included in Level 1 that are observable for
|
||||||||
the asset or liability, either directly or indirectly. These inputs may include quoted prices
|
|||||||||
for the identical instrument on an inactive market, prices for similar instruments, interest
|
|||||||||
rates, prepayment speeds, credit risk, yield curves, default rates and similar data.
|
|||||||||
Level 3 –
|
Unobservable inputs for the asset or liability, to the extent relevant observable inputs
|
||||||||
are not available, representing the Fund's own assumptions about the assumptions a market
|
|||||||||
participant would use in valuing the asset or liability, and would be based on the best
|
|||||||||
information available.
|
The following is a summary of the inputs used to value the Fund's investments as of December 31, 2022:
|
Shenkman Capital Floating Rate High Income Fund
|
||||||||||||||||
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||||||
Fixed Income
|
||||||||||||||||
Bank Loans
|
$
|
-
|
$
|
247,402,260
|
$
|
-
|
$
|
247,402,260
|
||||||||
Corporate Bonds
|
-
|
31,393,815
|
-
|
31,393,815
|
||||||||||||
Total Fixed Income
|
-
|
278,796,075
|
-
|
278,796,075
|
||||||||||||
Equity
|
-
|
7
|
-
|
7
|
||||||||||||
Warrant
|
-
|
5,980
|
-
|
5,980
|
||||||||||||
Money Market Fund
|
8,417,972
|
-
|
-
|
8,417,972
|
||||||||||||
Total Investments
|
$
|
8,417,972
|
$
|
278,802,062
|
$
|
-
|
$
|
287,220,034
|
||||||||
Refer to the Fund's schedule of investments for a detailed break-out of holdings by industry classification.
|