Shenkman Capital Floating Rate High Income Fund
|
||||||||
Schedule of Investments
|
||||||||
June 30, 2024 (Unaudited)
|
||||||||
BANK LOANS - 86.5%(e)
|
Principal
Amount
|
Fair Value
|
||||||
AEROSPACE & DEFENSE - 1.3%
|
||||||||
Apple Bidco LLC, Senior Secured First Lien, 8.84% (1 mo. SOFR US + 3.50%), 09/25/2028
|
$
|
629,053
|
$
|
631,337
|
||||
Barnes Group, Inc., Senior Secured First Lien, 7.84% (1 mo. SOFR US + 2.50%), 08/30/2030
|
591,365
|
593,828
|
||||||
Bleriot US Bidco, Inc., Senior Secured First Lien, 8.58% (3 mo. SOFR US + 3.25%), 10/31/2028
|
295,020
|
296,753
|
||||||
Brown Group Holding LLC, Senior Secured First Lien
|
||||||||
8.33% (3 mo. SOFR US + 3.00%), 07/02/2029
|
428,206
|
428,527
|
||||||
8.34% (1 mo. SOFR US + 3.00%), 07/02/2029
|
267,874
|
268,075
|
||||||
8.35% (3 mo. SOFR US + 3.00%), 07/02/2029
|
203,194
|
203,347
|
||||||
Dynasty Acquisition Co., Inc., Senior Secured First Lien, 8.84% (1 mo. SOFR US + 3.50%), 08/24/2028
|
567,324
|
570,030
|
||||||
LSF11 Trinity Bidco, Inc., Senior Secured First Lien, 8.84% (1 mo. SOFR US + 3.50%), 06/14/2030
|
390,336
|
392,655
|
||||||
Standard Aero Ltd., Senior Secured First Lien, 8.84% (1 mo. SOFR US + 3.50%), 08/24/2028
|
218,746
|
219,789
|
||||||
3,604,341
|
||||||||
AUTO RETAIL - 0.4%
|
||||||||
CWGS Group LLC, Senior Secured First Lien
|
||||||||
7.96% (1 mo. SOFR US + 2.50%), 06/05/2028
|
505,243
|
490,402
|
||||||
7.96% (1 mo. SOFR US + 2.50%), 06/05/2028
|
32,462
|
31,508
|
||||||
LS Group OpCo Acquistion LLC, Senior Secured First Lien, 8.34% (1 mo. SOFR US + 3.00%), 04/23/2031
|
408,850
|
409,531
|
||||||
931,441
|
||||||||
AUTOMOTIVE - 1.6%
|
||||||||
Adient US LLC, Senior Secured First Lien, 8.09% (1 mo. SOFR US + 2.75%), 01/29/2031
|
688,275
|
693,485
|
||||||
American Axle & Manufacturing, Inc., Senior Secured First Lien, 8.33% (1 mo. SOFR US + 3.00%), 12/13/2029
|
732,266
|
736,154
|
||||||
Autokiniton US Holdings, Inc., Senior Secured First Lien, 9.46% (1 mo. SOFR US + 4.00%), 04/06/2028
|
297,428
|
299,447
|
||||||
Clarios Global LP, Senior Secured First Lien, 8.34% (1 mo. SOFR US + 3.00%), 05/06/2030
|
260,000
|
260,935
|
||||||
First Brands Group LLC, Senior Secured First Lien
|
||||||||
10.59% (3 mo. SOFR US + 5.00%), 03/30/2027
|
466,441
|
464,401
|
||||||
10.59% (3 mo. SOFR US + 5.00%), 03/30/2027
|
272,840
|
271,519
|
||||||
Tenneco, Inc., Senior Secured First Lien
|
||||||||
10.43% (3 mo. SOFR US + 5.00%), 11/17/2028
|
479,646
|
461,189
|
||||||
10.43% (3 mo. SOFR US + 5.00%), 11/17/2028
|
1,354
|
1,302
|
||||||
Thor Industries, Inc., Senior Secured First Lien, 8.09% (1 mo. SOFR US + 2.75%), 11/15/2030
|
282,333
|
283,392
|
||||||
USI, Inc., Senior Secured First Lien, 8.08% (3 mo. SOFR US + 2.75%), 09/27/2030
|
738,429
|
739,352
|
||||||
4,211,176
|
||||||||
BUILDING PRODUCTS - 1.5%
|
||||||||
Cornerstone Building Brands, Inc., Senior Secured First Lien, 8.68% (1 mo. SOFR US + 3.25%), 04/12/2028
|
406,693
|
397,797
|
||||||
Janus International Group LLC, Senior Secured First Lien, 7.84% (1 mo. SOFR US + 2.50%), 08/05/2030
|
771,840
|
776,784
|
||||||
MIWD Holdco II LLC, Senior Secured First Lien, 8.84% (1 mo. SOFR US + 3.50%), 03/28/2031
|
479,000
|
482,494
|
||||||
Quikrete Holdings, Inc., Senior Secured First Lien, 7.84% (1 mo. SOFR US + 2.50%), 04/14/2031
|
498,750
|
500,438
|
||||||
STS Operating, Inc., Senior Secured First Lien, 9.44% (3 mo. SOFR US + 4.00%), 03/25/2031
|
630,420
|
632,390
|
||||||
Summit Materials LLC, Senior Secured First Lien, 7.80% (3 mo. SOFR US + 2.50%), 01/12/2029
|
522,690
|
526,937
|
||||||
Tamko Building Products LLC, Senior Secured First Lien, 8.59% (1 mo. SOFR US + 3.25%), 09/20/2030
|
453,625
|
454,192
|
||||||
Verde Purchaser LLC, Senior Secured First Lien, 9.83% (3 mo. SOFR US + 4.50%), 12/02/2030
|
360,000
|
360,135
|
||||||
4,131,167
|
||||||||
CHEMICALS - 2.8%
|
||||||||
Axalta Coating Systems US Holdings, Inc., Senior Secured First Lien, 7.33% (3 mo. SOFR US + 2.00%), 12/20/2029
|
779,162
|
781,503
|
||||||
Consolidated Energy Finance SA, Senior Secured First Lien, 9.84% (1 mo. SOFR US + 4.50%), 11/18/2030
|
337,155
|
328,895
|
||||||
Discovery Purchaser Corp., Senior Secured First Lien, 9.68% (3 mo. SOFR US + 4.38%), 10/04/2029
|
622,567
|
622,480
|
||||||
Ecovyst Catalyst Technologies LLC, Senior Secured First Lien, 7.58% (1 mo. Term SOFR + 2.25%), 06/12/2031
|
239,807
|
240,042
|
||||||
INEOS US Finance LLC, Senior Secured First Lien, 8.92% (1 mo. Term SOFR + 3.50%), 02/19/2030
|
310,000
|
308,605
|
||||||
INEOS US Petrochem LLC, Senior Secured First Lien
|
||||||||
8.21% (1 mo. SOFR US + 2.75%), 01/29/2026
|
179,495
|
179,664
|
||||||
9.18% (1 mo. SOFR US + 3.75%), 03/01/2030
|
236,610
|
236,611
|
||||||
Koppers, Inc., Senior Secured First Lien, 8.34% (1 mo. SOFR US + 3.00%), 04/10/2030
|
231,930
|
233,017
|
||||||
LSF11 A5 HoldCo LLC, Senior Secured First Lien, 8.96% (1 mo. SOFR US + 3.50%), 10/16/2028
|
771,394
|
770,912
|
||||||
Lummus Technology Holdings V LLC, Senior Secured First Lien, 8.96% (1 mo. SOFR US + 3.50%), 12/31/2029
|
586,530
|
589,463
|
||||||
Nouryon USA LLC, Senior Secured First Lien, 8.83% (1 mo. SOFR US + 3.50%), 04/03/2028
|
306,683
|
308,599
|
||||||
Olympus Water US Holding Corp., Senior Secured First Lien, 9.58% (3 mo. SOFR US + 4.25%), 11/09/2028
|
262,309
|
263,730
|
||||||
Polar US Borrower LLC, Senior Secured First Lien
|
||||||||
10.18% (3 mo. SOFR US + 4.75%), 10/15/2025
|
259,516
|
207,613
|
||||||
10.18% (3 mo. SOFR US + 4.75%), 10/15/2025
|
221,794
|
177,435
|
||||||
SCIH Salt Holdings, Inc., Senior Secured First Lien, 8.83% (3 mo. SOFR US + 3.50%), 03/16/2027
|
792,716
|
794,203
|
||||||
Sparta US HoldCo LLC, Senior Secured First Lien, 8.58% (1 mo. SOFR US + 3.25%), 08/02/2028
|
515,775
|
516,466
|
||||||
Tronox Finance LLC, Senior Secured First Lien
|
||||||||
7.96% (1 mo. SOFR US + 2.50%), 03/13/2028
|
70,154
|
70,412
|
||||||
8.10% (3 mo. SOFR US + 2.50%), 03/13/2028
|
346,154
|
347,430
|
||||||
Vibrantz Technologies, Inc., Senior Secured First Lien, 9.71% (3 mo. SOFR US + 4.25%), 04/23/2029
|
407,643
|
398,675
|
||||||
Windsor Holdings III LLC, Senior Secured First Lien, 9.34% (1 mo. SOFR US + 4.00%), 08/01/2030
|
316,410
|
318,862
|
||||||
7,694,617
|
||||||||
COMMERCIAL SERVICES - 6.3%
|
||||||||
AlixPartners LLP, Senior Secured First Lien, 7.96% (1 mo. SOFR US + 2.50%), 02/04/2028
|
1,189,122
|
1,191,352
|
||||||
Allied Universal Holdco LLC, Senior Secured First Lien, 9.19% (1 mo. SOFR US + 3.75%), 05/15/2028
|
395,982
|
394,907
|
||||||
American Auto Auction Group LLC, Senior Secured First Lien, 10.48% (3 mo. SOFR US + 5.00%), 12/30/2027
|
540,872
|
541,277
|
||||||
Apex Group Treasury LLC, Senior Secured First Lien, 9.33% (3 mo. SOFR US + 3.75%), 07/27/2028
|
402,116
|
403,122
|
||||||
Aramark Services, Inc., Senior Secured First Lien
|
||||||||
7.21% (1 mo. SOFR US + 1.75%), 01/15/2027
|
398,000
|
398,448
|
||||||
7.34% (1 mo. SOFR US + 2.00%), 06/24/2030
|
454,558
|
455,865
|
||||||
Camelot US Acquisition LLC, Senior Secured First Lien
|
||||||||
8.08% (1 mo. SOFR US + 2.75%), 01/31/2031
|
73,735
|
73,956
|
||||||
8.09% (1 mo. SOFR US + 2.75%), 01/31/2031
|
316,323
|
317,272
|
||||||
8.09% (1 mo. SOFR US + 2.75%), 01/31/2031
|
6,267
|
6,286
|
||||||
CoreLogic, Inc., Senior Secured First Lien, 8.96% (1 mo. SOFR US + 3.50%), 06/02/2028
|
410,944
|
405,513
|
||||||
Deerfield Dakota Holding LLC, Senior Secured First Lien, 9.08% (3 mo. SOFR US + 3.75%), 04/09/2027
|
1,765,692
|
1,766,998
|
||||||
Dun & Bradstreet Corp., Senior Secured First Lien, 8.10% (1 mo. SOFR US + 2.75%), 01/18/2029
|
395,498
|
396,240
|
||||||
EAB Global, Inc., Senior Secured First Lien, 8.58% (1 mo. SOFR US + 3.50%), 08/16/2028
|
556,888
|
557,027
|
||||||
Foundever Worldwide Corp., Senior Secured First Lien, 9.21% (1 mo. SOFR US + 3.75%), 08/28/2028
|
865,287
|
670,360
|
||||||
Galaxy US Opco, Inc., Senior Secured First Lien
|
||||||||
10.08% (3 mo. SOFR US + 4.75%), 04/30/2029
|
236,751
|
193,150
|
||||||
10.08% (3 mo. SOFR US + 4.75%), 04/30/2029
|
114,894
|
93,734
|
||||||
Garda World Security Corp., Senior Secured First Lien, 9.59% (3 mo. SOFR US + 4.25%), 02/01/2029
|
1,724,612
|
1,737,546
|
||||||
Grant Thornton LLP, Senior Secured First Lien, 8.60% (3 mo. SOFR US + 3.25%), 05/30/2031
|
407,000
|
408,675
|
||||||
HomeServe USA Corp., Senior Secured First Lien, 7.84% (1 mo. SOFR US + 2.50%), 10/21/2030
|
357,105
|
358,408
|
||||||
Indy US Bidco LLC, Senior Secured First Lien
|
||||||||
9.08% (1 mo. SOFR US + 3.75%), 03/06/2028
|
309,692
|
304,013
|
||||||
9.08% (1 mo. SOFR US + 3.75%), 03/06/2028
|
179,183
|
175,898
|
||||||
Indy US Holdco LLC, Senior Secured First Lien
|
||||||||
4.75% (1 mo. Term SOFR + 4.75%), 03/06/2028
|
904,000
|
906,260
|
||||||
11.58% (1 mo. SOFR US + 6.25%), 03/06/2028
|
425,828
|
426,893
|
||||||
11.58% (1 mo. SOFR US + 6.25%), 03/06/2028
|
309,142
|
309,915
|
||||||
Iron Mountain Information Management LLC, Senior Secured First Lien
|
||||||||
7.21% (1 Month Synthetic LIBOR + 1.75%), 01/02/2026 (a)
|
524,802
|
524,670
|
||||||
7.59% (1 mo. SOFR US + 2.25%), 01/31/2031
|
271,885
|
271,091
|
||||||
Isolved, Inc., Senior Secured First Lien, 8.84% (1 mo. SOFR US + 3.50%), 10/15/2030
|
428,925
|
430,533
|
||||||
OMNIA Partners LLC, Senior Secured First Lien
|
||||||||
8.57% (3 mo. SOFR US + 3.25%), 07/25/2030
|
511,569
|
512,446
|
||||||
8.57% (1 mo. SOFR US + 3.25%), 07/25/2030
|
90,921
|
91,077
|
||||||
Planet US Buyer LLC, Senior Secured First Lien, 8.82% (3 mo. SOFR US + 3.50%), 02/10/2031
|
796,000
|
802,070
|
||||||
Pre-Paid Legal Services, Inc., Senior Secured First Lien, 9.21% (1 mo. SOFR US + 3.75%), 12/15/2028
|
659,121
|
659,533
|
||||||
Saphilux Sarl, Senior Secured First Lien
|
||||||||
9.32% (Daily US Secured Overnight Financing Rate + 4.00%), 07/27/2028
|
915
|
923
|
||||||
9.33% (6 mo. SOFR US + 4.00%), 07/27/2028
|
363,255
|
366,434
|
||||||
SS&C Technologies, Inc., Senior Secured First Lien, 7.33% (1 mo. SOFR US + 2.00%), 05/09/2031
|
269,581
|
270,279
|
||||||
Tempo Acquisition LLC, Senior Secured First Lien, 7.59% (1 mo. SOFR US + 2.25%), 08/31/2028
|
74,251
|
74,497
|
||||||
VT Topco, Inc., Senior Secured First Lien, 8.84% (1 mo. SOFR US + 3.50%), 08/12/2030
|
576,825
|
580,214
|
||||||
17,076,882
|
||||||||
CONSTRUCTION & ENGINEERING - 2.0%
|
||||||||
Amentum Government Services Holdings LLC, Senior Secured First Lien
|
||||||||
9.46% (1 mo. SOFR US + 4.00%), 01/29/2027
|
611,075
|
613,367
|
||||||
9.46% (1 mo. SOFR US + 4.00%), 01/29/2027
|
307,645
|
308,798
|
||||||
9.34% (1 mo. SOFR US + 4.00%), 02/15/2029
|
296,128
|
297,794
|
||||||
American Residential Services LLC, Senior Secured First Lien, 9.10% (3 mo. SOFR US + 3.50%), 10/15/2027
|
655,235
|
653,597
|
||||||
APi Group DE, Inc., Senior Secured First Lien, 7.34% (1 mo. SOFR US + 2.00%), 01/03/2029
|
542,000
|
542,388
|
||||||
Artera Services LLC, Senior Secured First Lien, 9.83% (3 mo. SOFR US + 4.50%), 02/10/2031
|
406,980
|
409,631
|
||||||
Brand Industrial Services, Inc., Senior Secured First Lien, 9.83% (3 mo. SOFR US + 4.50%), 08/01/2030
|
541,468
|
543,875
|
||||||
Centuri Group, Inc., Senior Secured First Lien, 7.96% (1 mo. SOFR US + 2.50%), 08/28/2028
|
553,282
|
554,051
|
||||||
Tecta America Corp., Senior Secured First Lien
|
||||||||
9.46% (1 mo. SOFR US + 4.00%), 04/10/2028
|
679,904
|
683,800
|
||||||
9.69% (1 mo. SOFR US + 4.25%), 04/10/2028
|
211,403
|
212,614
|
||||||
Tiger Acquisition LLC, Senior Secured First Lien, 8.69% (1 mo. SOFR US + 3.25%), 06/01/2028
|
578,638
|
574,795
|
||||||
5,394,710
|
||||||||
CONSUMER DISCRETIONARY - 2.3%
|
||||||||
American Greetings Corp., Senior Secured First Lien, 11.09% (1 mo. SOFR US + 5.75%), 10/30/2029
|
391,000
|
393,811
|
||||||
Champ Acquisition Corp., Senior Secured First Lien, 11.10% (3 mo. SOFR US + 5.50%), 12/19/2025
|
153,647
|
154,397
|
||||||
Fugue Finance LLC, Senior Secured First Lien, 9.35% (3 mo. SOFR US + 4.00%), 01/26/2028
|
441,794
|
445,706
|
||||||
Hanesbrands, Inc., Senior Secured First Lien, 9.09% (1 mo. SOFR US + 3.75%), 03/08/2030
|
499,675
|
501,861
|
||||||
KUEHG Corp., Senior Secured First Lien, 9.83% (3 mo. SOFR US + 4.50%), 06/12/2030
|
351,603
|
353,384
|
||||||
Learning Care Group US No 2, Inc., Senior Secured First Lien
|
||||||||
9.33% (3 mo. SOFR US + 4.00%), 08/11/2028
|
7,451
|
7,511
|
||||||
9.34% (3 mo. SOFR US + 4.00%), 08/11/2028
|
77,500
|
78,130
|
||||||
9.34% (3 mo. SOFR US + 4.00%), 08/11/2028
|
43,056
|
43,406
|
||||||
9.34% (3 mo. SOFR US + 4.00%), 08/11/2028
|
25,833
|
26,043
|
||||||
Peloton Interactive, Inc., Senior Secured First Lien, 11.35% (3 mo. SOFR US + 6.00%), 05/30/2029
|
272,000
|
272,748
|
||||||
Prometric Holdings, Inc., Senior Secured First Lien, 10.21% (1 mo. SOFR US + 4.75%), 01/31/2028
|
809,162
|
815,028
|
||||||
Renaissance Holdings Corp., Senior Secured First Lien, 9.60% (3 mo. SOFR US + 4.25%), 04/30/2030
|
724,534
|
724,871
|
||||||
Samsonite IP Holdings Sarl, Senior Secured First Lien, 7.34% (1 mo. SOFR US + 2.00%), 06/10/2030
|
378,143
|
380,272
|
||||||
Spring Education Group, Inc., Senior Secured First Lien, 9.33% (3 mo. SOFR US + 4.00%), 10/04/2030
|
359,195
|
361,402
|
||||||
Tory Burch LLC, Senior Secured First Lien, 8.71% (1 mo. SOFR US + 3.25%), 04/17/2028
|
363,750
|
364,860
|
||||||
Wand NewCo 3, Inc., Senior Secured First Lien, 9.09% (1 mo. SOFR US + 3.75%), 01/30/2031
|
1,085,000
|
1,093,425
|
||||||
WW International, Inc., Senior Secured First Lien, 8.96% (1 mo. SOFR US + 3.50%), 04/13/2028
|
273,415
|
104,581
|
||||||
6,121,436
|
||||||||
CONSUMER NON-DISCRETIONARY - 0.4%
|
||||||||
Kronos Acquisition Holdings, Inc., Senior Secured First Lien
|
||||||||
9.31% (3 mo. SOFR US + 3.75%), 12/22/2026
|
532,485
|
532,685
|
||||||
9.31% (3 mo. SOFR US + 3.75%), 12/22/2026
|
227,002
|
227,087
|
||||||
9.34% (1 mo. Term SOFR + 4.00%), 06/27/2031
|
432,000
|
429,840
|
||||||
1,189,612
|
||||||||
ENVIRONMENTAL SERVICES - 2.1%
|
||||||||
Action Environmental Group, Inc., Senior Secured First Lien
|
||||||||
9.33% (1 mo. Term SOFR + 4.00%), 10/24/2030
|
94,857
|
95,569
|
||||||
9.33% (1 mo. Term SOFR + 4.00%), 10/24/2030
|
71,143
|
71,676
|
||||||
9.33% (3 mo. SOFR US + 4.00%), 10/24/2030
|
509,723
|
513,545
|
||||||
9.82% (1 mo. Term SOFR + 4.50%), 10/24/2030 (g)
|
77,000
|
77,578
|
||||||
Belfor Holdings, Inc., Senior Secured First Lien, 9.09% (1 mo. SOFR US + 3.75%), 11/04/2030
|
939,582
|
946,628
|
||||||
GFL Environmental, Inc., Senior Secured First Lien
|
||||||||
7.83% (3 mo. SOFR US + 2.50%), 05/28/2027
|
655,596
|
657,697
|
||||||
6.84% (1 mo. Term SOFR + 2.00%), 06/27/2031
|
769,000
|
770,923
|
||||||
Gopher Resource LLC, Senior Secured First Lien, 8.69% (1 Month Synthetic LIBOR + 3.25%), 03/06/2025 (a)
|
309,554
|
295,667
|
||||||
JFL-Tiger Acquisition Co., Inc., Senior Secured First Lien, 9.83% (3 mo. SOFR US + 4.50%), 10/17/2030
|
424,865
|
426,545
|
||||||
Reworld Holding Corp., Senior Secured First Lien
|
||||||||
7.84% (1 mo. SOFR US + 2.50%), 11/30/2028
|
342,966
|
343,196
|
||||||
7.84% (1 mo. SOFR US + 2.50%), 11/30/2028
|
26,282
|
26,299
|
||||||
8.08% (1 mo. SOFR US + 2.75%), 11/30/2028
|
420,908
|
421,456
|
||||||
8.08% (1 mo. SOFR US + 2.75%), 11/30/2028
|
23,000
|
23,030
|
||||||
Win Waste Innovations Holdings, Inc., Senior Secured First Lien, 8.21% (1 mo. SOFR US + 2.75%), 03/27/2028
|
989,611
|
923,990
|
||||||
5,593,799
|
||||||||
FINANCIALS: BANKS - 0.1%
|
||||||||
EnergySolutions LLC, Senior Secured First Lien, 9.09% (1 mo. SOFR US + 3.75%), 09/23/2030
|
353,633
|
356,839
|
||||||
FINANCIALS: DIVERSIFIED - 4.5%
|
||||||||
Armor Holdco, Inc., Senior Secured First Lien, 9.93% (6 mo. Term SOFR + 4.50%), 12/11/2028
|
404,962
|
407,240
|
||||||
Ascensus Holdings, Inc., Senior Secured First Lien, 8.96% (1 mo. SOFR US + 3.50%), 08/02/2028
|
786,861
|
788,434
|
||||||
Avolon TLB Borrower 1 US LLC, Senior Secured First Lien, 7.34% (1 mo. SOFR US + 2.00%), 06/22/2028
|
903,272
|
905,530
|
||||||
Blackhawk Network Holdings, Inc., Senior Secured First Lien, 10.34% (1 mo. SOFR US + 5.00%), 03/12/2029
|
471,000
|
472,620
|
||||||
Boost Newco Borrower LLC, Senior Secured First Lien, 8.33% (3 mo. SOFR US + 3.00%), 01/31/2031
|
952,000
|
954,513
|
||||||
Castlelake Aviation One DAC, Senior Secured First Lien
|
||||||||
7.84% (3 mo. SOFR US + 2.50%), 10/22/2026
|
526,569
|
528,086
|
||||||
8.09% (3 mo. SOFR US + 2.75%), 10/22/2027
|
518,110
|
519,729
|
||||||
Citco Funding LLC, Senior Secured First Lien, 8.10% (3 mo. SOFR US + 2.75%), 04/27/2028
|
674,544
|
677,636
|
||||||
Edelman Financial Engines Center LLC, Senior Secured First Lien, 8.58% (1 mo. SOFR US + 3.25%), 04/07/2028
|
445,564
|
446,713
|
||||||
Edelman Financial Engines Center LLC, Senior Secured Second Lien, 10.59% (1 mo. SOFR US + 5.25%), 10/31/2028
|
1,021,000
|
1,024,829
|
||||||
EIG Management Co. LLC, Senior Secured First Lien, 10.33% (1 mo. SOFR US + 5.00%), 05/17/2029
|
641,000
|
636,192
|
||||||
Focus Financial Partners LLC, Senior Secured First Lien, 8.09% (1 mo. SOFR US + 2.75%), 06/30/2028
|
402,938
|
402,996
|
||||||
Lakeland Holdings LLC, Senior Unsecured First Lien
|
||||||||
8.00%, 09/27/2027
|
225,670
|
37,235
|
||||||
8.00%, 09/27/2027
|
107,661
|
17,764
|
||||||
MoneyGram International, Inc., Senior Secured First Lien, 10.08% (3 mo. SOFR US + 4.75%), 06/03/2030
|
265,866
|
265,767
|
||||||
NAB Holdings LLC, Senior Secured First Lien, 8.10% (3 mo. SOFR US + 2.75%), 11/24/2028
|
493,083
|
494,111
|
||||||
Nuvei Technologies Corp., Senior Secured First Lien
|
||||||||
8.44% (1 mo. SOFR US + 3.00%), 12/19/2030
|
142,976
|
143,321
|
||||||
8.44% (1 mo. SOFR US + 3.00%), 12/19/2030
|
96,038
|
96,270
|
||||||
8.44% (1 mo. SOFR US + 3.00%), 12/19/2030
|
24,833
|
24,893
|
||||||
VFH Parent LLC, Senior Secured First Lien, 8.09% (1 mo. SOFR US + 2.75%), 06/23/2031
|
910,000
|
910,760
|
||||||
WEX, Inc., Senior Secured First Lien, 7.34% (1 mo. SOFR US + 2.00%), 04/03/2028
|
693,698
|
695,557
|
||||||
WMB Holdings, Inc., Senior Secured First Lien
|
||||||||
7.92% (1 mo. SOFR US + 2.50%), 11/03/2027
|
386,293
|
385,327
|
||||||
8.09% (1 mo. SOFR US + 2.75%), 11/05/2029
|
716,398
|
719,980
|
||||||
Zelis Payments Buyer, Inc., Senior Secured First Lien, 8.09% (1 mo. SOFR US + 2.75%), 09/28/2029
|
661,343
|
661,948
|
||||||
12,217,451
|
||||||||
FINANCIALS: INSURANCE - 4.2%
|
||||||||
Acrisure LLC, Senior Secured First Lien
|
||||||||
8.34% (3 mo. SOFR US + 3.00%), 02/16/2027
|
1,260,660
|
1,261,972
|
||||||
8.59% (3 mo. SOFR US + 3.25%), 11/06/2030
|
740,038
|
740,041
|
||||||
AssuredPartners, Inc., Senior Secured First Lien, 8.84% (1 mo. SOFR US + 3.50%), 02/14/2031
|
1,926,173
|
1,933,396
|
||||||
Asurion LLC, Senior Secured First Lien, 8.71% (1 mo. SOFR US + 3.25%), 12/23/2026
|
2,014,092
|
2,000,104
|
||||||
Asurion LLC, Senior Secured Second Lien, 10.71% (1 mo. SOFR US + 5.25%), 02/03/2028
|
718,000
|
670,881
|
||||||
BroadStreet Partners, Inc., Senior Secured First Lien
|
||||||||
8.59% (1 mo. SOFR US + 3.25%), 06/16/2031
|
290,709
|
290,273
|
||||||
8.59% (1 mo. SOFR US + 3.25%), 06/16/2031
|
29,758
|
29,713
|
||||||
HUB International Ltd., Senior Secured First Lien
|
||||||||
8.57% (3 mo. SOFR US + 3.25%), 06/20/2030
|
1,297,748
|
1,302,075
|
||||||
8.58% (1 mo. SOFR US + 3.25%), 06/20/2030
|
3,253
|
3,263
|
||||||
Jones Deslauriers Insurance Management, Inc., Senior Secured First Lien, 8.83% (3 mo. SOFR US + 3.50%), 03/15/2030
|
366,083
|
366,815
|
||||||
Truist Insurance Holdings LLC, Senior Secured First Lien, 8.58% (3 mo. SOFR US + 3.25%), 05/06/2031
|
1,447,000
|
1,451,905
|
||||||
Truist Insurance Holdings LLC, Senior Secured Second Lien, 10.09% (3 mo. SOFR US + 4.75%), 05/06/2032
|
505,000
|
516,362
|
||||||
USI, Inc., Senior Secured First Lien, 8.09% (1 mo. SOFR US + 2.75%), 11/23/2029
|
941,152
|
942,334
|
||||||
11,509,134
|
||||||||
FOOD & BEVERAGE - 1.8%
|
||||||||
BCPE Empire Holdings, Inc., Senior Secured First Lien, 9.34% (1 mo. SOFR US + 4.00%), 12/26/2028
|
665,063
|
666,021
|
||||||
Delivery Hero Finco LLC, Senior Secured First Lien, 10.32% (3 mo. SOFR US + 5.00%), 12/12/2029
|
1,617,945
|
1,634,529
|
||||||
Froneri US, Inc., Senior Secured First Lien
|
||||||||
7.69% (1 mo. SOFR US + 2.25%), 02/01/2027
|
270,730
|
270,884
|
||||||
7.69% (1 mo. SOFR US + 2.25%), 02/01/2027
|
123,193
|
123,263
|
||||||
HLF Financing Sarl LLC, Senior Secured First Lien, 12.09% (1 mo. SOFR US + 6.75%), 04/12/2029
|
324,000
|
312,422
|
||||||
Pegasus Bidco BV, Senior Secured First Lien, 9.07% (3 mo. SOFR US + 3.75%), 07/12/2029
|
528,570
|
532,312
|
||||||
Saratoga Food Specialties LLC, Senior Secured First Lien, 9.09% (3 mo. SOFR US + 3.75%), 03/07/2029
|
380,000
|
382,612
|
||||||
Triton Water Holdings, Inc., Senior Secured First Lien, 8.81% (3 mo. SOFR US + 3.25%), 03/31/2028
|
819,278
|
820,507
|
||||||
4,742,550
|
||||||||
HEALTHCARE: EQUIPMENT & SUPPLIES - 2.3%
|
||||||||
AthenaHealth Group, Inc., Senior Secured First Lien, 8.59% (1 mo. SOFR US + 3.25%), 02/15/2029
|
745,069
|
743,556
|
||||||
Azalea Topco, Inc., Senior Secured First Lien, 8.84% (1 mo. SOFR US + 3.50%), 04/24/2031
|
1,134,000
|
1,134,590
|
||||||
Bausch + Lomb Corp., Senior Secured First Lien, 8.69% (1 mo. SOFR US + 3.25%), 05/10/2027
|
582
|
577
|
||||||
Covetrus, Inc., Senior Secured First Lien, 10.33% (3 mo. SOFR US + 5.00%), 10/15/2029
|
232,063
|
224,935
|
||||||
Gainwell Acquisition Corp., Senior Secured First Lien, 9.43% (3 mo. SOFR US + 4.00%), 10/01/2027
|
944,676
|
917,120
|
||||||
Insulet Corp., Senior Secured First Lien, 8.33% (1 mo. SOFR US + 3.00%), 05/04/2028
|
756,600
|
760,224
|
||||||
Medline Borrower LP, Senior Secured First Lien, 8.09% (1 mo. SOFR US + 2.75%), 10/23/2028
|
1,594,496
|
1,599,478
|
||||||
Waystar Technologies, Inc., Senior Secured First Lien, 9.33% (1 mo. SOFR US + 4.00%), 10/22/2029
|
795,077
|
797,065
|
||||||
6,177,545
|
||||||||
HEALTHCARE: FACILITIES - 4.3%
|
||||||||
ADMI Corp., Senior Secured First Lien, 9.21% (1 mo. SOFR US + 3.75%), 12/23/2027
|
415,240
|
407,716
|
||||||
CHG Healthcare Services, Inc., Senior Secured First Lien
|
||||||||
8.71% (1 mo. SOFR US + 3.25%), 09/29/2028
|
161,332
|
161,768
|
||||||
9.09% (1 mo. SOFR US + 3.75%), 10/02/2028
|
355,763
|
357,209
|
||||||
9.09% (1 mo. SOFR US + 3.75%), 10/02/2028
|
32,589
|
32,722
|
||||||
Concentra Health Services, Inc., Senior Secured First Lien, 7.83% (1 mo. Term SOFR + 2.25%), 06/26/2031
|
407,000
|
409,035
|
||||||
Electron Bidco, Inc., Senior Secured First Lien, 8.46% (1 mo. SOFR US + 3.00%), 11/01/2028
|
949,966
|
950,859
|
||||||
Global Medical Response, Inc., Senior Secured First Lien, 10.09% (0.75% PIK) (1 mo. Term SOFR + 4.75%), 10/02/2028
|
859,504
|
834,149
|
||||||
Heartland Dental LLC, Senior Secured First Lien, 9.84% (1 mo. SOFR US + 4.50%), 04/28/2028
|
808,190
|
811,273
|
||||||
Inception Finco Sarl, Senior Secured First Lien, 9.83% (3 mo. SOFR US + 4.50%), 03/10/2031
|
570,000
|
574,187
|
||||||
LifePoint Health, Inc., Senior Secured First Lien, 9.33% (3 mo. SOFR US + 4.00%), 05/14/2031
|
944,000
|
946,511
|
||||||
ModivCare, Inc., Senior Secured First Lien, 10.09%, 06/20/2031 (b)
|
606,000
|
595,774
|
||||||
Option Care Health, Inc., Senior Secured First Lien, 7.71% (1 mo. SOFR US + 2.25%), 10/27/2028
|
675,653
|
681,001
|
||||||
Pacific Dental Services, Inc., Senior Secured First Lien, 8.58% (1 mo. SOFR US + 3.25%), 03/17/2031
|
478,800
|
480,346
|
||||||
Pluto Acquisition I, Inc., Senior Secured First Lien
|
||||||||
10.95% (3 mo. SOFR US + 5.50%), 06/20/2028
|
90,065
|
91,191
|
||||||
10.95% (3 mo. SOFR US + 5.50%), 06/20/2028
|
1,801
|
1,824
|
||||||
9.33% (3 mo. SOFR US + 4.00%), 09/20/2028
|
405,745
|
365,171
|
||||||
Radnet Management, Inc., Senior Secured First Lien, 7.83% (3 mo. SOFR US + 2.50%), 04/10/2031
|
408,000
|
408,765
|
||||||
Select Medical Corp., Senior Secured First Lien, 8.34% (1 mo. SOFR US + 3.00%), 03/05/2027
|
704,285
|
705,458
|
||||||
Sonrava Health Co-Borrower LLC, Senior Secured First Lien, 12.11%, 06/13/2031 (b)
|
115,687
|
82,138
|
||||||
Sotera Health Holdings LLC, Senior Secured First Lien, 8.59% (1 mo. SOFR US + 3.25%), 05/30/2031
|
648,000
|
647,731
|
||||||
Surgery Center Holdings T/L (05/24), Senior Secured First Lien, 8.09% (1 mo. SOFR US + 2.75%), 12/19/2030
|
1,306,000
|
1,310,982
|
||||||
US Radiology Specialists, Inc., Senior Secured First Lien, 10.73% (3 mo. SOFR US + 5.25%), 12/15/2027
|
525,744
|
528,307
|
||||||
Western Dental Services, Inc., Senior Secured First Lien
|
||||||||
10.11% (3 mo. SOFR US + 4.50%), 08/18/2028
|
304,238
|
218,037
|
||||||
10.11% (3 mo. SOFR US + 4.50%), 08/18/2028
|
31,081
|
22,275
|
||||||
11,624,429
|
||||||||
HEALTHCARE: LIFE SCIENCES - 1.7%
|
||||||||
Avantor Funding, Inc., Senior Secured First Lien, 7.44% (1 mo. SOFR US + 2.00%), 11/08/2027
|
1,288,345
|
1,295,773
|
||||||
Cambrex Corp., Senior Secured First Lien, 8.94% (1 mo. SOFR US + 3.50%), 12/07/2026
|
403,774
|
398,539
|
||||||
Catalent Pharma Solutions, Inc., Senior Secured First Lien, 8.34% (1 mo. SOFR US + 3.00%), 02/22/2028
|
520,695
|
521,671
|
||||||
Curia Global, Inc., Senior Secured First Lien, 9.18% (3 mo. SOFR US + 3.75%), 08/28/2026
|
705,781
|
666,599
|
||||||
ICON Luxembourg Sarl, Senior Secured First Lien
|
||||||||
7.33% (3 mo. SOFR US + 2.00%), 07/03/2028
|
236,547
|
237,743
|
||||||
7.33% (3 mo. SOFR US + 2.00%), 07/03/2028
|
58,936
|
59,234
|
||||||
Phoenix Newco, Inc., Senior Secured First Lien, 8.71% (1 mo. SOFR US + 3.25%), 11/15/2028
|
614,910
|
616,927
|
||||||
Star Parent, Inc., Senior Secured First Lien, 9.08% (3 mo. SOFR US + 3.75%), 09/30/2030
|
818,199
|
818,523
|
||||||
4,615,009
|
||||||||
HEALTHCARE: MANAGED HEALTH CARE - 0.7%
|
||||||||
Charlotte Buyer, Inc., Senior Secured First Lien, 10.58% (1 mo. SOFR US + 5.25%), 02/11/2028
|
284,831
|
285,932
|
||||||
Cotiviti, Inc., Senior Secured First Lien, 8.58% (1 mo. SOFR US + 3.25%), 04/30/2031
|
1,655,850
|
1,651,710
|
||||||
1,937,642
|
||||||||
HEALTHCARE: PHARMA & BIOTECH - 1.7%
|
||||||||
Elanco Animal Health, Inc., Senior Secured First Lien, 7.18% (1 mo. SOFR US + 1.75%), 08/02/2027
|
401,750
|
400,778
|
||||||
Endo Finance Holdings, Inc., Senior Secured First Lien, 9.83% (3 mo. SOFR US + 4.50%), 04/23/2031
|
716,000
|
716,004
|
||||||
Financiere Mendel SASU, Senior Secured First Lien, 8.57% (3 mo. SOFR US + 3.25%), 11/13/2030
|
670,320
|
673,755
|
||||||
Grifols Worldwide Operations USA, Inc., Senior Secured First Lien, 7.44% (1 mo. SOFR US + 2.00%), 11/15/2027
|
684,323
|
674,058
|
||||||
Jazz Financing Lux Sarl, Senior Secured First Lien, 8.46% (1 mo. SOFR US + 3.00%), 05/05/2028
|
1,533,655
|
1,536,531
|
||||||
Perrigo Investments LLC, Senior Secured First Lien, 7.69% (1 mo. SOFR US + 2.25%), 04/20/2029
|
652,678
|
652,271
|
||||||
4,653,397
|
||||||||
INDUSTRIAL MACHINERY - 3.8%
|
||||||||
AI Aqua Merger Sub, Inc., Senior Secured First Lien, 9.33% (1 mo. SOFR US + 4.00%), 07/31/2028
|
1,148,996
|
1,152,340
|
||||||
Ali Group North America Corp., Senior Secured First Lien, 7.46% (1 mo. SOFR US + 2.00%), 07/23/2029
|
526,656
|
529,336
|
||||||
AZZ, Inc., Senior Secured First Lien
|
||||||||
8.59% (1 mo. SOFR US + 3.25%), 05/11/2029
|
291,387
|
293,572
|
||||||
8.59% (1 mo. SOFR US + 3.25%), 05/11/2029
|
188,663
|
190,078
|
||||||
Chart Industries, Inc., Senior Secured First Lien, 8.68% (1 mo. SOFR US + 3.25%), 03/18/2030
|
851,627
|
855,886
|
||||||
Columbus McKinnon Corp., Senior Secured First Lien, 7.83% (3 mo. SOFR US + 2.50%), 05/15/2028
|
533,893
|
538,233
|
||||||
Crosby US Acquisition Corp., Senior Secured First Lien, 9.34% (1 mo. SOFR US + 4.00%), 08/16/2029
|
495,510
|
498,865
|
||||||
Doosan Bobcat North America, Inc., Senior Secured First Lien, 7.68% (3 mo. SOFR US + 2.25%), 04/20/2029
|
387,794
|
388,763
|
||||||
Gates Global LLC, Senior Secured First Lien, 8.34% (1 mo. SOFR US + 3.00%), 11/16/2029
|
517,778
|
519,302
|
||||||
LSF12 Badger Bidco LLC, Senior Secured First Lien, 11.34% (1 mo. SOFR US + 6.00%), 07/10/2030
|
274,308
|
274,308
|
||||||
Madison IAQ LLC, Senior Secured First Lien, 8.09% (1 mo. SOFR US + 2.75%), 06/21/2028
|
405,153
|
406,030
|
||||||
Oregon Tool Holdings, Inc., Senior Secured First Lien, 9.60% (3 mo. SOFR US + 4.00%), 10/16/2028
|
408,486
|
312,390
|
||||||
PG Investment Co. 59 Sarl, Senior Secured First Lien, 8.83% (3 mo. SOFR US + 3.50%), 03/24/2031
|
540,000
|
544,277
|
||||||
Pro Mach Group, Inc., Senior Secured First Lien, 8.83% (1 mo. SOFR US + 3.50%), 08/31/2028
|
965,117
|
971,149
|
||||||
Roper Industrial Products Investment Co., Senior Secured First Lien, 8.58% (1 mo. SOFR US + 3.25%), 11/23/2029
|
535,252
|
538,041
|
||||||
TK Elevator US Newco, Inc., Senior Secured First Lien
|
||||||||
8.79% (3 mo. SOFR US + 3.50%), 04/30/2030
|
504,952
|
508,187
|
||||||
8.79% (3 mo. SOFR US + 3.50%), 04/30/2030
|
290,058
|
291,915
|
||||||
Vertiv Group Corp., Senior Secured First Lien, 7.33% (1 mo. SOFR US + 2.00%), 03/02/2027
|
565,843
|
568,120
|
||||||
Wec US Holdings Ltd., Senior Secured First Lien, 8.09% (1 mo. SOFR US + 2.75%), 01/27/2031
|
949,720
|
951,710
|
||||||
10,332,502
|
||||||||
LEISURE: CASINOS & GAMING - 3.6%
|
||||||||
888 Acquisitions LLC, Senior Secured First Lien, 10.58% (6 mo. SOFR US + 5.25%), 07/03/2028
|
688,427
|
687,050
|
||||||
Allwyn International AS, Senior Secured First Lien, 7.57%, 05/30/2031 (b)
|
576,000
|
576,720
|
||||||
Aristocrat Technologies, Inc., Senior Secured First Lien, 7.68% (3 mo. SOFR US + 2.25%), 05/24/2029
|
224,143
|
225,263
|
||||||
Bally's Corp., Senior Secured First Lien, 8.84% (3 mo. SOFR US + 3.25%), 10/02/2028
|
413,515
|
393,658
|
||||||
Caesars Entertainment, Inc., Senior Secured First Lien
|
||||||||
8.10% (1 mo. SOFR US + 2.75%), 02/06/2030
|
675,568
|
676,885
|
||||||
8.10% (3 mo. SOFR US + 2.75%), 02/06/2031
|
563,588
|
564,732
|
||||||
Entain Holdings Gibraltar Ltd., Senior Secured First Lien, 7.86% (6 mo. SOFR US + 2.50%), 03/16/2027
|
1,346,986
|
1,350,717
|
||||||
Everi Holdings, Inc., Senior Secured First Lien, 7.96% (1 mo. SOFR US + 2.50%), 08/03/2028
|
449,888
|
451,604
|
||||||
Fertitta Entertainment LLC, Senior Secured First Lien, 9.08% (1 mo. SOFR US + 3.75%), 01/29/2029
|
799,778
|
801,625
|
||||||
Flutter Financing BV, Senior Secured First Lien, 7.58% (3 mo. SOFR US + 2.25%), 11/29/2030
|
1,871,979
|
1,875,302
|
||||||
Light & Wonder International, Inc., Senior Secured First Lien, 8.08% (1 mo. SOFR US + 2.75%), 04/16/2029
|
852,843
|
854,292
|
||||||
Ontario Gaming GTA LP, Senior Secured First Lien, 9.58% (3 mo. SOFR US + 4.25%), 08/01/2030
|
734,310
|
738,782
|
||||||
Penn Entertainment, Inc., Senior Secured First Lien, 8.19% (1 mo. SOFR US + 2.75%), 05/03/2029
|
586,480
|
587,866
|
||||||
9,784,496
|
||||||||
LEISURE: HOTELS - 2.8%
|
||||||||
Alterra Mountain Co., Senior Secured First Lien, 8.59% (1 mo. SOFR US + 3.25%), 08/17/2028
|
1,786,568
|
1,794,759
|
||||||
Carnival Corp., Senior Secured First Lien, 8.09% (1 mo. SOFR US + 2.75%), 10/18/2028
|
373,213
|
374,671
|
||||||
Cedar Fair LP, Senior Secured First Lien, 7.33% (1 mo. SOFR US + 2.00%), 05/01/2031
|
516,000
|
515,760
|
||||||
Herschend Entertainment Co. LLC, Senior Secured First Lien, 8.34% (1 mo. SOFR US + 3.00%), 08/28/2028
|
789,610
|
794,549
|
||||||
Hilton Domestic Operating Co., Inc., Senior Secured First Lien, 7.10% (1 mo. SOFR US + 1.75%), 11/08/2030
|
835,000
|
836,795
|
||||||
Hilton Grand Vacations Borrower LLC, Senior Secured First Lien
|
||||||||
7.84% (1 mo. SOFR US + 2.50%), 08/02/2028
|
431,790
|
432,291
|
||||||
8.09% (1 mo. SOFR US + 2.75%), 01/17/2031
|
903,735
|
904,865
|
||||||
Marriott Ownership Resorts, Inc., Senior Secured First Lien, 7.59% (1 mo. SOFR US + 2.25%), 04/01/2031
|
400,000
|
401,500
|
||||||
RHP Hotel Properties LP, Senior Secured First Lien, 7.59% (1 mo. SOFR US + 2.25%), 05/20/2030
|
374,890
|
376,203
|
||||||
Sabre GLBL, Inc., Senior Secured First Lien
|
||||||||
8.96% (1 mo. SOFR US + 3.50%), 12/17/2027
|
143,000
|
129,210
|
||||||
8.96% (1 mo. SOFR US + 3.50%), 12/17/2027
|
90,735
|
81,985
|
||||||
9.69% (1 mo. SOFR US + 4.25%), 06/30/2028
|
64,915
|
58,937
|
||||||
10.44% (1 mo. SOFR US + 5.00%), 06/30/2028
|
465,000
|
427,874
|
||||||
Travel + Leisure Co., Senior Secured First Lien, 8.69% (1 mo. SOFR US + 3.25%), 12/14/2029
|
502,740
|
504,877
|
||||||
7,634,276
|
||||||||
LEISURE: RESTAURANTS - 1.4%
|
||||||||
BCPE Grill Parent, Inc., Senior Secured First Lien, 10.09% (1 mo. SOFR US + 4.75%), 09/30/2030
|
266,660
|
263,393
|
||||||
Dave & Buster's, Inc., Senior Secured First Lien, 8.63% (1 mo. SOFR US + 3.25%), 06/29/2029
|
662,824
|
664,299
|
||||||
IRB Holding Corp., Senior Secured First Lien, 8.18% (1 mo. SOFR US + 2.75%), 12/15/2027
|
1,557,670
|
1,558,839
|
||||||
Tacala Investment Corp., Senior Secured First Lien, 9.34% (1 mo. SOFR US + 4.00%), 01/31/2031
|
526,680
|
529,590
|
||||||
Whatabrands LLC, Senior Secured First Lien, 8.09% (1 mo. SOFR US + 2.75%), 08/03/2028
|
659,026
|
659,936
|
||||||
3,676,057
|
||||||||
MEDIA: BROADCASTING - 0.5%
|
||||||||
Hubbard Radio LLC, Senior Secured First Lien, 9.84% (1 mo. SOFR US + 4.50%), 09/30/2027
|
399,987
|
321,789
|
||||||
Nexstar Media, Inc., Senior Secured First Lien, 7.96% (1 mo. SOFR US + 2.50%), 09/18/2026
|
700,890
|
703,389
|
||||||
Univision Communications, Inc., Senior Secured First Lien, 8.71% (1 mo. SOFR US + 3.25%), 03/24/2026
|
315,710
|
316,243
|
||||||
1,341,421
|
||||||||
MEDIA: CABLE & SATELLITE - 2.0%
|
||||||||
Charter Communications Operating LLC, Senior Secured First Lien, 7.05% (3 mo. SOFR US + 1.75%), 02/01/2027
|
664,766
|
664,702
|
||||||
Connect Finco Sarl, Senior Secured First Lien, 8.84% (1 mo. SOFR US + 3.50%), 12/11/2026
|
431,241
|
426,928
|
||||||
Coral-US Co.-Borrower LLC, Senior Secured First Lien, 7.69% (1 mo. SOFR US + 2.25%), 01/31/2028
|
585,000
|
566,444
|
||||||
CSC Holdings LLC, Senior Secured First Lien, 9.83% (1 mo. SOFR US + 4.50%), 01/18/2028
|
852,271
|
821,227
|
||||||
Directv Financing LLC, Senior Secured First Lien, 10.46% (1 mo. SOFR US + 5.00%), 08/02/2027
|
536,724
|
538,468
|
||||||
Iridium Satellite LLC, Senior Secured First Lien, 7.59% (1 mo. SOFR US + 2.25%), 09/20/2030
|
832,023
|
832,082
|
||||||
Radiate Holdco LLC, Senior Secured First Lien, 8.71% (1 mo. SOFR US + 3.25%), 09/25/2026
|
343,778
|
279,392
|
||||||
Telenet Financing USD LLC, Senior Secured First Lien, 7.44% (1 mo. SOFR US + 2.00%), 04/28/2028
|
407,000
|
388,262
|
||||||
Telesat LLC, Senior Secured First Lien, 8.36% (3 mo. SOFR US + 2.75%), 12/07/2026
|
273,204
|
129,004
|
||||||
Virgin Media Bristol LLC, Senior Secured First Lien, 7.94% (1 mo. SOFR US + 2.50%), 01/31/2028
|
630,000
|
603,546
|
||||||
Xplore, Inc., Senior Secured First Lien, 9.60% (3 mo. SOFR US + 4.00%), 10/02/2028
|
430,745
|
74,155
|
||||||
5,324,210
|
||||||||
MEDIA: DIVERSIFIED - 1.4%
|
||||||||
Abe Investment Holdings, Inc., Senior Secured First Lien, 9.93% (3 mo. SOFR US + 4.50%), 02/19/2026
|
801,094
|
801,855
|
||||||
ABG Intermediate Holdings 2 LLC, Senior Secured First Lien, 8.09% (1 mo. SOFR US + 2.75%), 12/21/2028
|
464,675
|
465,677
|
||||||
AP Core Holdings II LLC, Senior Secured First Lien, 10.96% (1 mo. SOFR US + 5.50%), 09/01/2027
|
271,000
|
237,408
|
||||||
Arches Buyer, Inc., Senior Secured First Lien, 8.69% (1 mo. SOFR US + 3.25%), 12/06/2027
|
272,963
|
261,723
|
||||||
Buzz Finco LLC, Senior Secured First Lien, 8.19% (1 mo. SOFR US + 2.75%), 01/29/2027
|
603,225
|
604,480
|
||||||
McGraw-Hill Education, Inc., Senior Secured First Lien, 10.20% (3 mo. SOFR US + 4.75%), 07/31/2028
|
724,413
|
726,576
|
||||||
Neptune Bidco US, Inc., Senior Secured First Lien, 10.16% (3 mo. SOFR US + 4.75%), 10/11/2028
|
866,030
|
814,718
|
||||||
3,912,437
|
||||||||
MEDIA: ENTERTAINMENT - 2.3%
|
||||||||
Cirque Du Soleil Holding USA Newco, Inc., Senior Secured First Lien
|
||||||||
9.08% (1 mo. SOFR US + 3.75%), 03/08/2030
|
442,723
|
443,000
|
||||||
9.08% (1 mo. SOFR US + 3.75%), 03/08/2030
|
224,181
|
224,321
|
||||||
Creative Artists Agency LLC, Senior Secured First Lien, 8.59% (1 mo. SOFR US + 3.25%), 11/27/2028
|
765,190
|
769,674
|
||||||
Delta 2 Lux Sarl, Senior Secured First Lien, 7.58% (3 mo. SOFR US + 2.25%), 01/15/2030
|
850,000
|
853,188
|
||||||
Hoya Midco LLC, Senior Secured First Lien, 8.33% (3 mo. SOFR US + 3.00%), 02/05/2029
|
554,590
|
557,593
|
||||||
Live Nation Entertainment, Inc., Senior Secured First Lien, 7.19% (1 mo. SOFR US + 1.75%), 10/19/2026
|
669,410
|
669,828
|
||||||
StubHub Holdco Sub LLC, Senior Secured First Lien, 10.08% (1 mo. SOFR US + 4.75%), 03/15/2030
|
944,059
|
945,537
|
||||||
UFC Holdings LLC, Senior Secured First Lien, 8.34% (3 mo. SOFR US + 2.75%), 04/29/2026
|
729,450
|
731,937
|
||||||
William Morris Endeavor Entertainment LLC, Senior Secured First Lien
|
||||||||
8.21% (1 mo. SOFR US + 2.75%), 05/19/2025
|
584,657
|
586,326
|
||||||
8.21% (1 mo. SOFR US + 2.75%), 05/19/2025
|
284,033
|
284,844
|
||||||
8.21% (1 mo. SOFR US + 2.75%), 05/19/2025
|
53,372
|
53,525
|
||||||
8.21% (1 mo. SOFR US + 2.75%), 05/19/2025
|
25,929
|
26,003
|
||||||
6,145,776
|
||||||||
METALS & MINING - 0.5%
|
||||||||
Arsenal AIC Parent LLC, Senior Secured First Lien, 9.09% (1 mo. SOFR US + 3.75%), 08/19/2030
|
506,181
|
509,851
|
||||||
Grinding Media, Inc., Senior Secured First Lien
|
||||||||
9.56% (3 mo. SOFR US + 4.00%), 10/12/2028
|
522,223
|
520,265
|
||||||
9.56% (3 mo. SOFR US + 4.00%), 10/12/2028
|
145,905
|
145,357
|
||||||
Zekelman Industries, Inc., Senior Secured First Lien, 7.59% (1 mo. SOFR US + 2.25%), 03/24/2031
|
250,307
|
251,023
|
||||||
1,426,496
|
||||||||
MIDSTREAM: STORAGE & TRANSPORT - 2.0%
|
||||||||
Brazos Delaware II LLC, Senior Secured First Lien, 8.82% (1 mo. Term SOFR + 3.50%), 02/11/2030
|
269,325
|
270,739
|
||||||
Buckeye Partners LP, Senior Secured First Lien, 7.34% (1 mo. SOFR US + 2.00%), 11/02/2026
|
767,776
|
769,419
|
||||||
ITT Holdings LLC, Senior Secured First Lien, 8.43% (1 mo. SOFR US + 3.00%), 10/11/2030
|
642,156
|
643,559
|
||||||
Northriver Midstream Finance LP, Senior Secured First Lien, 7.80% (3 mo. SOFR US + 2.50%), 08/16/2030
|
734,586
|
736,004
|
||||||
Oryx Midstream Services Permian Basin LLC, Senior Secured First Lien, 8.44% (1 mo. SOFR US + 3.00%), 10/05/2028
|
1,491,800
|
1,494,597
|
||||||
TransMontaigne Operating Co. LP, Senior Secured First Lien
|
||||||||
8.96% (1 mo. SOFR US + 3.50%), 11/17/2028
|
232,040
|
232,890
|
||||||
8.96% (1 mo. SOFR US + 3.50%), 11/17/2028
|
232,040
|
232,890
|
||||||
8.96% (1 mo. SOFR US + 3.50%), 11/17/2028
|
71,214
|
71,475
|
||||||
Traverse Midstream Partners LLC, Senior Secured First Lien, 8.83% (3 mo. SOFR US + 3.50%), 02/16/2028
|
652,652
|
656,121
|
||||||
UGI Energy Services LLC, Senior Secured First Lien, 7.94% (1 mo. SOFR US + 2.50%), 02/22/2030
|
371,345
|
372,572
|
||||||
5,480,266
|
||||||||
OIL & GAS: E&P - 0.1%
|
||||||||
Discovery Energy Holding Corp., Senior Secured First Lien, 10.08% (3 mo. SOFR US + 4.75%), 05/01/2031
|
369,000
|
371,018
|
||||||
OIL & GAS: EQUIPMENT & SERVICES - 0.1%
|
||||||||
US Silica Co., Senior Secured First Lien, 9.34% (1 mo. SOFR US + 4.00%), 03/25/2030
|
376,385
|
378,384
|
||||||
PACKAGING - 1.4%
|
||||||||
Clydesdale Acquisition Holdings, Inc., Senior Secured First Lien, 9.12% (1 mo. SOFR US + 3.68%), 04/13/2029
|
396,587
|
397,949
|
||||||
LABL, Inc., Senior Secured First Lien, 10.44% (1 mo. SOFR US + 5.00%), 10/30/2028
|
543,532
|
537,585
|
||||||
Mauser Packaging Solutions Holding Co., Senior Secured First Lien, 8.83% (1 mo. SOFR US + 3.50%), 04/16/2027
|
1,096,744
|
1,099,338
|
||||||
Pregis TopCo LLC, Senior Secured First Lien, 9.34% (1 mo. SOFR US + 4.00%), 07/31/2026
|
520,475
|
521,612
|
||||||
Sabert Corp., Senior Secured First Lien, 8.45% (1 mo. SOFR US + 3.00%), 12/10/2026
|
345,112
|
347,053
|
||||||
Trident TPI Holdings, Inc., Senior Secured First Lien, 9.57% (3 mo. SOFR US + 4.00%), 09/18/2028
|
908,363
|
912,088
|
||||||
3,815,625
|
||||||||
REAL ESTATE: MANAGEMENT - 0.3%
|
||||||||
Cushman & Wakefield US Borrower LLC, Senior Secured First Lien, 9.09% (1 mo. SOFR US + 3.75%), 01/31/2030
|
287,280
|
289,435
|
||||||
Greystar Real Estate Partners LLC, Senior Secured First Lien, 8.58% (3 mo. SOFR US + 3.25%), 08/21/2030
|
543,897
|
547,296
|
||||||
836,731
|
||||||||
RETAIL: FOOD & DRUG - 0.2%
|
||||||||
JP Intermediate B LLC, Senior Secured First Lien, 11.09% (3 mo. SOFR US + 5.50%), 11/22/2027
|
452,852
|
42,880
|
||||||
TKC Holdings, Inc., Senior Secured First Lien, 11.11% (3 mo. SOFR US + 5.50%), 05/15/2028
|
490,318
|
490,625
|
||||||
533,505
|
||||||||
RETAILING - 3.4%
|
||||||||
Amer Sports Co., Senior Secured First Lien
|
||||||||
8.58% (3 mo. SOFR US + 3.25%), 02/18/2031
|
260,168
|
262,119
|
||||||
8.58% (3 mo. SOFR US + 3.25%), 02/18/2031
|
111,900
|
112,739
|
||||||
Belron Finance US LLC, Senior Secured First Lien, 7.51% (3 mo. SOFR US + 1.93%), 04/28/2028
|
1,188,568
|
1,191,290
|
||||||
Great Outdoors Group LLC, Senior Secured First Lien, 9.21% (1 mo. SOFR US + 3.75%), 03/06/2028
|
1,484,282
|
1,484,905
|
||||||
Harbor Freight Tools USA, Inc., Senior Secured First Lien, 7.84% (1 mo. SOFR US + 2.50%), 06/11/2031
|
905,000
|
903,511
|
||||||
Mavis Tire Express Services Topco Corp., Senior Secured First Lien, 9.09% (1 mo. SOFR US + 3.75%), 05/04/2028
|
674,487
|
676,827
|
||||||
Michaels Cos., Inc., Senior Secured First Lien, 9.85% (3 mo. SOFR US + 4.25%), 04/17/2028
|
578,978
|
521,870
|
||||||
Peer Holding III BV, Senior Secured First Lien
|
||||||||
8.58% (3 mo. SOFR US + 3.25%), 10/28/2030
|
631,418
|
633,590
|
||||||
8.33%, 06/20/2031 (b)
|
334,000
|
334,767
|
||||||
PetSmart LLC, Senior Secured First Lien, 9.19% (1 mo. SOFR US + 3.75%), 02/14/2028
|
1,648,995
|
1,646,241
|
||||||
Restoration Hardware, Inc., Senior Secured First Lien
|
||||||||
7.94% (1 mo. Term SOFR + 2.50%), 10/20/2028
|
108,667
|
104,756
|
||||||
8.69% (1 mo. Term SOFR + 3.25%), 10/20/2028
|
217,333
|
212,443
|
||||||
Sally Holdings LLC, Senior Secured First Lien, 7.08% (1 mo. SOFR US + 1.75%), 02/28/2030
|
474,988
|
475,285
|
||||||
Staples, Inc., Senior Secured First Lien, 11.08% (3 mo. SOFR US + 5.75%), 09/10/2029
|
648,000
|
595,998
|
||||||
9,156,341
|
||||||||
TECHNOLOGY HARDWARE - 1.3%
|
||||||||
CommScope, Inc., Senior Secured First Lien, 8.71% (1 mo. SOFR US + 3.25%), 04/06/2026
|
612,619
|
554,200
|
||||||
Fortress Intermediate 3, Inc., Senior Secured First Lien, 9.32% (1 mo. Term SOFR + 3.75%), 06/27/2029
|
597,000
|
598,492
|
||||||
Ingram Micro, Inc., Senior Secured First Lien, 8.60% (3 mo. SOFR US + 3.00%), 07/03/2028
|
352,264
|
354,191
|
||||||
MKS Instruments, Inc., Senior Secured First Lien, 7.83% (1 mo. SOFR US + 2.50%), 08/17/2029
|
358,120
|
358,940
|
||||||
Synaptics, Inc., Senior Secured First Lien, 7.85% (3 mo. SOFR US + 2.25%), 12/04/2028
|
1,084,458
|
1,086,220
|
||||||
World Wide Technology Holding Co. LLC, Senior Secured First Lien, 8.18% (1 mo. SOFR US + 2.75%), 03/01/2030
|
667,457
|
670,795
|
||||||
3,622,838
|
||||||||
TECHNOLOGY: SOFTWARE & SERVICES - 10.8%
|
||||||||
Access CIG LLC, Senior Secured First Lien, 10.33% (3 mo. SOFR US + 5.00%), 08/18/2028
|
709,638
|
715,073
|
||||||
Barracuda Networks, Inc., Senior Secured First Lien, 9.81% (6 mo. SOFR US + 4.50%), 08/15/2029
|
420,728
|
420,545
|
||||||
Barracuda Networks, Inc., Senior Secured Second Lien, 12.33% (3 mo. SOFR US + 7.00%), 08/15/2030
|
358,333
|
342,208
|
||||||
Boxer Parent Co., Inc., Senior Secured First Lien, 9.34% (1 mo. SOFR US + 4.00%), 12/29/2028
|
1,389,020
|
1,393,604
|
||||||
Central Parent, Inc., Senior Secured First Lien, 8.58% (1 mo. SOFR US + 3.25%), 07/06/2029
|
419,940
|
415,086
|
||||||
Cloud Software Group, Inc., Senior Secured First Lien
|
||||||||
9.33% (3 mo. SOFR US + 4.00%), 03/29/2029
|
1,763,262
|
1,764,038
|
||||||
9.33% (3 mo. SOFR US + 4.00%), 03/29/2029
|
4,419
|
4,421
|
||||||
ConnectWise LLC, Senior Secured First Lien, 9.10% (3 mo. SOFR US + 3.50%), 09/29/2028
|
1,121,925
|
1,115,754
|
||||||
Dayforce, Inc., Senior Secured First Lien, 7.84% (1 mo. SOFR US + 2.50%), 03/03/2031
|
405,000
|
406,266
|
||||||
E2open LLC, Senior Secured First Lien, 8.96% (1 mo. SOFR US + 3.50%), 02/04/2028
|
603,265
|
606,583
|
||||||
Ensono, Inc., Senior Secured First Lien
|
||||||||
9.46% (1 mo. SOFR US + 4.00%), 05/30/2028
|
560,879
|
557,373
|
||||||
9.46% (1 mo. SOFR US + 4.00%), 05/30/2028
|
66,100
|
65,687
|
||||||
9.46% (1 mo. SOFR US + 4.00%), 05/30/2028
|
66,100
|
65,687
|
||||||
Flexera Software LLC, Senior Secured First Lien, 8.83% (3 mo. SOFR US + 3.50%), 03/03/2028
|
1,362,596
|
1,369,410
|
||||||
Genesys Cloud Services Holdings II LLC, Senior Secured First Lien
|
||||||||
8.84% (1 mo. SOFR US + 3.50%), 12/01/2027
|
373,123
|
375,323
|
||||||
8.84% (1 mo. SOFR US + 3.50%), 12/01/2027
|
174,754
|
175,784
|
||||||
9.21% (1 mo. SOFR US + 3.75%), 12/01/2027
|
370,073
|
373,041
|
||||||
Go Daddy Operating Co. LLC, Senior Secured First Lien, 7.09% (1 mo. SOFR US + 1.75%), 06/02/2031
|
546,000
|
546,158
|
||||||
Informatica LLC, Senior Secured First Lien, 7.59% (1 mo. SOFR US + 2.25%), 10/30/2028
|
665,891
|
668,804
|
||||||
Marcel Bidco LLC, Senior Secured First Lien, 9.31% (Daily US Secured Overnight Financing Rate + 4.00%), 11/13/2030
|
770,197
|
775,973
|
||||||
McAfee Corp., Senior Secured First Lien, 8.58% (1 mo. SOFR US + 3.25%), 03/01/2029
|
1,038,212
|
1,038,456
|
||||||
MH Sub I LLC, Senior Secured First Lien, 9.59% (1 mo. SOFR US + 4.25%), 05/03/2028
|
529,988
|
530,097
|
||||||
Modena Buyer LLC, Senior Secured First Lien, 9.82% (1 mo. Term SOFR + 4.50%), 04/21/2031
|
978,000
|
955,843
|
||||||
Mosel Bidco SE, Senior Secured First Lien
|
||||||||
9.83% (3 mo. SOFR US + 4.50%), 09/16/2030
|
429,847
|
432,534
|
||||||
9.83% (3 mo. SOFR US + 4.50%), 09/16/2030
|
302,153
|
304,041
|
||||||
N-Able International Holdings II LLC, Senior Secured First Lien, 8.36% (3 mo. SOFR US + 2.75%), 07/19/2028
|
498,893
|
498,893
|
||||||
Optiv Parent, Inc., Senior Secured First Lien, 10.57% (3 mo. SOFR US + 5.25%), 08/26/2026
|
343,764
|
316,263
|
||||||
Peraton Corp., Senior Secured First Lien, 9.19% (1 mo. SOFR US + 3.75%), 02/01/2028
|
943,723
|
944,974
|
||||||
Polaris Newco LLC, Senior Secured First Lien, 9.59% (3 mo. SOFR US + 4.00%), 06/05/2028
|
819,522
|
820,174
|
||||||
Project Alpha Intermediate Holding, Inc., Senior Secured First Lien, 9.07% (3 mo. SOFR US + 3.75%), 10/28/2030
|
1,345,628
|
1,351,421
|
||||||
Proofpoint, Inc., Senior Secured First Lien, 8.34% (1 mo. SOFR US + 3.00%), 08/31/2028
|
1,612,010
|
1,615,339
|
||||||
Quartz Acquireco LLC, Senior Secured First Lien, 8.08% (3 mo. SOFR US + 2.75%), 06/28/2030
|
523,048
|
524,028
|
||||||
Rithum Holdings, Inc., Senior Secured First Lien
|
||||||||
9.48% (3 mo. SOFR US + 4.00%), 12/02/2027
|
721,226
|
664,790
|
||||||
11.58% (3 mo. SOFR US + 6.25%), 12/29/2027
|
271,311
|
263,850
|
||||||
Rocket Software, Inc., Senior Secured First Lien, 10.09% (1 mo. SOFR US + 4.75%), 11/28/2028
|
808,927
|
813,300
|
||||||
Sedgwick Claims Management Services, Inc., Senior Secured First Lien, 9.09% (1 mo. SOFR US + 3.75%), 02/24/2028
|
1,306,463
|
1,309,546
|
||||||
Skopima Consilio Parent LLC, Senior Secured First Lien, 9.46% (1 mo. SOFR US + 4.00%), 05/17/2028
|
403,708
|
403,887
|
||||||
SolarWinds Holdings, Inc., Senior Secured First Lien, 8.59% (1 mo. SOFR US + 3.25%), 02/05/2027
|
1,056,319
|
1,058,960
|
||||||
Sovos Compliance LLC, Senior Secured First Lien, 9.96% (1 mo. SOFR US + 4.50%), 08/14/2028
|
410,129
|
407,515
|
||||||
UKG, Inc., Senior Secured First Lien, 8.58% (1 mo. SOFR US + 3.25%), 02/10/2031
|
2,022,000
|
2,031,938
|
||||||
VS Buyer LLC, Senior Secured First Lien, 8.58% (1 mo. SOFR US + 3.25%), 04/14/2031
|
983,588
|
987,277
|
||||||
29,429,944
|
||||||||
TELECOM SERVICES: DIVERSIFIED - 2.1%
|
||||||||
Altice France SA, Senior Secured First Lien, 10.83% (3 mo. SOFR US + 5.50%), 08/31/2028
|
334,356
|
246,587
|
||||||
Cincinnati Bell, Inc., Senior Secured First Lien, 8.69% (1 mo. SOFR US + 3.25%), 11/24/2028
|
663,995
|
662,571
|
||||||
Crown Subsea Communications Holding, Inc., Senior Secured First Lien, 10.08% (3 mo. SOFR US + 4.75%), 01/30/2031
|
929,000
|
932,674
|
||||||
Eagle Broadband Investments LLC, Senior Secured First Lien, 8.60% (3 mo. SOFR US + 3.00%), 11/12/2027
|
276,359
|
274,978
|
||||||
Frontier Communications Holdings LLC, Senior Secured First Lien
|
||||||||
9.21% (1 mo. SOFR US + 3.75%), 10/08/2027
|
669,874
|
670,377
|
||||||
8.58% (1 mo. Term SOFR + 3.50%), 06/23/2031
|
824,000
|
824,000
|
||||||
Lumen Technologies, Inc., Senior Secured First Lien
|
||||||||
7.81% (1 mo. SOFR US + 2.35%), 04/16/2029
|
265,910
|
184,253
|
||||||
7.81% (1 mo. SOFR US + 2.35%), 04/15/2030
|
265,910
|
179,241
|
||||||
SBA Senior Finance II LLC, Senior Secured First Lien, 7.35% (1 mo. SOFR US + 2.00%), 01/27/2031
|
270,323
|
270,936
|
||||||
Voyage Australia Pty Ltd., Senior Secured First Lien, 9.09% (3 mo. SOFR US + 3.50%), 07/20/2028
|
467,773
|
469,529
|
||||||
Zayo Group Holdings, Inc., Senior Secured First Lien, 9.67% (1 mo. SOFR US + 4.33%), 03/09/2027
|
693,826
|
613,821
|
||||||
Ziggo Financing Partnership, Senior Secured First Lien, 7.94% (1 mo. SOFR US + 2.50%), 04/28/2028
|
455,000
|
440,813
|
||||||
5,769,780
|
||||||||
TELECOM SERVICES: WIRELESS - 0.2%
|
||||||||
CCI Buyer, Inc., Senior Secured First Lien, 9.33% (3 mo. SOFR US + 4.00%), 12/17/2027
|
527,288
|
528,482
|
||||||
TRANSPORTATION - 2.3%
|
||||||||
AAdvantage Loyalty IP Ltd., Senior Secured First Lien, 10.34% (3 mo. SOFR US + 4.75%), 04/20/2028
|
581,747
|
601,745
|
||||||
Air Canada, Senior Secured First Lien, 7.85% (3 mo. SOFR US + 2.50%), 03/21/2031
|
268,328
|
269,040
|
||||||
ASP LS Acquisition Corp., Senior Secured First Lien, 10.10% (3 mo. SOFR US + 4.50%), 05/08/2028
|
729,956
|
624,013
|
||||||
Avis Budget Car Rental LLC, Senior Secured First Lien
|
||||||||
7.21% (1 mo. SOFR US + 1.75%), 08/06/2027
|
398,868
|
395,543
|
||||||
8.44% (1 mo. SOFR US + 3.00%), 03/16/2029
|
356,852
|
356,986
|
||||||
Cubic Corp., Senior Secured First Lien
|
||||||||
9.86% (3 mo. SOFR US + 4.25%), 05/25/2028
|
705,775
|
523,548
|
||||||
9.86% (3 mo. SOFR US + 4.25%), 05/25/2028
|
152,256
|
112,944
|
||||||
Genesee & Wyoming, Inc., Senior Secured First Lien, 7.33% (3 mo. SOFR US + 2.00%), 04/10/2031
|
647,000
|
647,061
|
||||||
Kenan Advantage Group, Inc., Senior Secured First Lien, 9.09% (1 mo. SOFR US + 3.75%), 01/25/2029
|
535,623
|
538,971
|
||||||
Mileage Plus Holdings LLC, Senior Secured First Lien, 10.74% (3 mo. SOFR US + 5.25%), 06/21/2027
|
517,064
|
528,228
|
||||||
United Airlines, Inc., Senior Secured First Lien, 8.09% (1 mo. SOFR US + 2.75%), 02/24/2031
|
335,160
|
336,417
|
||||||
WWEX Uni Topco Holdings LLC, Senior Secured First Lien, 9.57% (3 mo. SOFR US + 4.00%), 07/26/2028
|
682,765
|
685,598
|
||||||
XPO, Inc., Senior Secured First Lien, 7.33% (1 mo. SOFR US + 2.00%), 02/28/2031
|
486,000
|
487,873
|
||||||
6,107,967
|
||||||||
UTILITIES: POWER - 2.0%
|
||||||||
Calpine Corp., Senior Secured First Lien
|
||||||||
7.34% (1 mo. SOFR US + 2.00%), 12/16/2027
|
266,000
|
266,617
|
||||||
7.34% (1 mo. SOFR US + 2.00%), 01/31/2031
|
263,647
|
263,125
|
||||||
Eastern Power LLC, Senior Secured First Lien, 9.20% (1 mo. Term SOFR + 3.75%), 10/02/2025
|
311,349
|
302,009
|
||||||
Granite Generation LLC, Senior Secured First Lien, 9.21% (1 mo. SOFR US + 3.75%), 11/09/2026
|
276,000
|
276,173
|
||||||
Lightstone Holdco LLC, Senior Secured First Lien
|
||||||||
11.08% (3 mo. SOFR US + 5.75%), 01/29/2027
|
935,616
|
923,186
|
||||||
11.08% (3 mo. SOFR US + 5.75%), 01/29/2027
|
52,813
|
52,112
|
||||||
NRG Energy, Inc., Senior Secured First Lien, 7.34% (3 mo. SOFR US + 2.00%), 04/16/2031
|
675,308
|
676,236
|
||||||
Parkway Generation LLC, Senior Secured First Lien
|
||||||||
10.34% (3 mo. SOFR US + 4.75%), 02/20/2029
|
512,104
|
512,296
|
||||||
10.34% (3 mo. SOFR US + 4.75%), 02/20/2029
|
31,896
|
31,908
|
||||||
Vistra Zero Operating Co. LLC, Senior Secured First Lien, 8.09% (1 mo. SOFR US + 2.75%), 04/30/2031
|
324,188
|
326,092
|
||||||
WaterBridge Midstream Operating LLC, Senior Secured First Lien, 10.33% (1 mo. Term SOFR + 4.75%), 06/27/2029
|
1,399,000
|
1,392,005
|
||||||
WaterBridge NDB Operating LLC, Senior Secured First Lien, 9.83% (3 mo. SOFR US + 4.50%), 05/10/2029
|
521,000
|
524,475
|
||||||
5,546,234
|
||||||||
TOTAL BANK LOANS (Cost $235,366,035)
|
234,937,963
|
|||||||
CORPORATE BONDS - 11.9%(f)
|
||||||||
AEROSPACE & DEFENSE - 0.3%
|
||||||||
AAR Escrow Issuer LLC, 6.75%, 03/15/2029 (c)
|
572,000
|
583,717
|
||||||
Bombardier, Inc., 7.13%, 06/15/2026 (c)
|
176,000
|
178,685
|
||||||
762,402
|
||||||||
BUILDING PRODUCTS - 0.2%
|
||||||||
Standard Industries, Inc., 3.38%, 01/15/2031 (c)
|
600,000
|
506,185
|
||||||
CHEMICALS - 0.1%
|
||||||||
Olympus Water US Holding Corp., 7.13%, 10/01/2027 (c)
|
200,000
|
201,459
|
||||||
Trinseo Materials Operating SCA / Trinseo Materials Finance, Inc., 5.13%, 04/01/2029 (c)
|
238,000
|
93,255
|
||||||
294,714
|
||||||||
COMMERCIAL SERVICES - 0.4%
|
||||||||
OPENLANE, Inc., 5.13%, 06/01/2025 (c)
|
424,000
|
418,513
|
||||||
Tempo Acquisition LLC / Tempo Acquisition Finance Corp., 5.75%, 06/01/2025 (c)
|
625,000
|
624,786
|
||||||
1,043,299
|
||||||||
CONSTRUCTION & ENGINEERING - 0.4%
|
||||||||
Pike Corp., 5.50%, 09/01/2028 (c)
|
1,043,000
|
1,001,127
|
||||||
HEALTHCARE: EQUIPMENT & SUPPLIES - 0.2%
|
||||||||
Neogen Food Safety Corp., 8.63%, 07/20/2030 (c)
|
397,000
|
429,581
|
||||||
HEALTHCARE: FACILITIES - 1.2%
|
||||||||
Fresenius Medical Care US Finance III, Inc., 2.38%, 02/16/2031 (c)
|
925,000
|
732,098
|
||||||
Select Medical Corp., 6.25%, 08/15/2026 (c)
|
1,335,000
|
1,342,602
|
||||||
Tenet Healthcare Corp., 6.25%, 02/01/2027
|
1,311,000
|