Shenkman Capital Floating Rate High Income Fund
|
||||||
Schedule of Investments
|
||||||
December 31, 2020 (Unaudited)
|
||||||
Principal
|
Fair
|
|||||
Amount
|
Value
|
|||||
BANK LOANS - 80.66%
|
||||||
AEROSPACE & DEFENSE - 0.43%
|
||||||
Transdigm, Inc.
|
||||||
Senior Secured First Lien Term Loan 2.397% (1 Month LIBOR USD + 2.25%), 08/22/2024 (a)
|
$ |
534,509
|
$ |
525,433
|
||
Senior Secured First Lien Term Loan 2.397% (1 Month LIBOR USD + 2.25%), 12/09/2025 (a)
|
695,413
|
683,208
|
||||
1,208,641
|
||||||
AUTO RETAIL - 0.54%
|
||||||
CWGS Group, LLC, Senior Secured First Lien Term Loan 3.50% (1 Month LIBOR USD + 2.75%, 0.750% Floor), 11/08/2023 (a)
|
713,937
|
708,504
|
||||
Mavis Tire Express Services Corp., Senior Secured First Lien Term Loan 5.00% (3 Month LIBOR USD + 4.00%, 1.000% Floor), 03/20/2025 (a)
|
791,000
|
797,427
|
||||
1,505,931
|
||||||
AUTOMOTIVE - 1.55%
|
||||||
Adient U.S., LLC
|
||||||
Senior Secured First Lien Term Loan 4.397% (1 Month LIBOR USD + 4.25%), 05/06/2024 (a)
|
536,550
|
537,331
|
||||
Senior Secured First Lien Term Loan 4.463% (3 Month LIBOR USD + 4.25%), 05/06/2024 (a)
|
182,500
|
182,765
|
||||
Clarios Global, L.P., Senior Secured First Lien Term Loan 3.647% (1 Month LIBOR USD + 3.50%), 04/30/2026 (a)
|
737,103
|
736,027
|
||||
LS Group Opco Acquisition, LLC, Senior Secured First Lien Term Loan 4.25% (3 Month LIBOR USD + 3.50%, 0.750% Floor), 11/02/2027 (a)
|
1,020,000
|
1,021,275
|
||||
LTI Holdings, Inc., Senior Secured First Lien Term Loan 3.647% (1 Month LIBOR USD + 3.50%), 09/08/2025 (a)
|
615,825
|
599,826
|
||||
Navistar, Inc., Senior Secured First Lien Term Loan 3.66% (1 Month LIBOR USD + 3.50%), 11/06/2024 (a)
|
1,228,107
|
1,229,182
|
||||
4,306,406
|
||||||
BUILDING PRODUCTS - 1.82%
|
||||||
CPG International, Inc., Senior Secured First Lien Term Loan 4.75% (12 Month LIBOR USD + 3.75%, 1.000% Floor), 05/03/2024 (a)
|
421,519
|
422,309
|
||||
HD Supply Waterworks, Ltd., Senior Secured First Lien Term Loan 3.75% (3 Month LIBOR USD + 2.75%, 1.000% Floor), 08/01/2024 (a)
|
591,700
|
590,839
|
||||
Henry Co., LLC, Senior Secured First Lien Term Loan 5.00% (1 Month LIBOR USD + 4.00%, 1.000% Floor), 10/05/2023 (a)
|
770,909
|
772,821
|
||||
Pisces Midco, Inc., Senior Secured First Lien Term Loan 3.904% (1 Month LIBOR USD + 3.75%), 04/12/2025 (a)
|
936,550
|
936,845
|
||||
QUIKRETE Holdings, Inc., Senior Secured First Lien Term Loan 2.647% (1 Month LIBOR USD + 2.50%), 02/01/2027 (a)
|
807,756
|
806,245
|
||||
SiteOne Landscape Supply, Inc., Senior Secured First Lien Term Loan 3.75% (1 Month LIBOR USD + 2.75%, 1.000% Floor), 10/29/2024 (a)
|
237,795
|
237,127
|
||||
SRS Distribution, Inc., Senior Secured First Lien Term Loan 3.147% (1 Month LIBOR USD + 3.00%), 05/23/2025 (a)
|
757,807
|
747,388
|
||||
VC GB Holdings, Inc., Senior Secured First Lien Term Loan 4.00% (1 Month LIBOR USD + 3.00%, 1.000% Floor), 02/28/2024 (a)
|
538,191
|
537,854
|
||||
5,051,428
|
||||||
CHEMICALS - 2.98%
|
||||||
Allnex S.A.R.L, Senior Secured First Lien Term Loan 4.00% (3 Month LIBOR USD + 3.25%, 0.750% Floor), 09/13/2023 (a)
|
673,747
|
668,802
|
||||
Allnex U.S.A., Inc., Senior Secured First Lien Term Loan 4.00% (3 Month LIBOR USD + 3.25%, 0.750% Floor), 09/13/2023 (a)
|
507,616
|
503,890
|
||||
ASP Unifrax Holdings, Inc., Senior Secured First Lien Term Loan 4.004% (3 Month LIBOR USD + 3.75%), 12/12/2025 (a)
|
592,825
|
547,649
|
||||
Colouroz Midco
|
||||||
Senior Secured First Lien Term Loan 5.25% (3 Month LIBOR USD + 4.25%, 1.000% Floor), 09/21/2023 (a)
|
865,152
|
816,124
|
||||
Senior Secured First Lien Term Loan 5.25% (3 Month LIBOR USD + 4.25%, 1.000% Floor), 09/21/2023 (a)
|
143,020
|
134,915
|
||||
Consolidated Energy Finance S.A., Senior Secured First Lien Term Loan 2.645% (1 Month LIBOR USD + 2.50%), 05/07/2025 (a)
|
492,363
|
472,053
|
||||
H.B. Fuller Co., Senior Secured First Lien Term Loan 2.152% (1 Month LIBOR USD + 2.00%), 10/21/2024 (a)
|
389,553
|
387,727
|
||||
Illuminate Buyer, LLC, Senior Secured First Lien Term Loan 4.147% (1 Month LIBOR USD + 4.00%), 06/30/2027 (a)
|
1,027,425
|
1,029,351
|
||||
PMHC II, Inc., Senior Secured First Lien Term Loan 4.50% (3 Month LIBOR USD + 3.50%, 1.000% Floor), 03/31/2025 (a)
|
466,800
|
439,025
|
||||
Polar U.S. Borrower, LLC
|
||||||
Senior Secured First Lien Term Loan 4.896% (1 Month LIBOR USD + 4.75%), 10/15/2025 (a)
|
7,310
|
7,210
|
||||
Senior Secured First Lien Term Loan 4.899% (1 Month LIBOR USD + 4.75%), 10/15/2025 (a)
|
737,490
|
727,349
|
||||
PQ Corp., Senior Secured First Lien Term Loan 4.00% (1 Month LIBOR USD + 3.00%, 1.000% Floor), 02/08/2027 (a)
|
336,140
|
338,066
|
||||
Solenis International, L.P.
|
||||||
Senior Secured First Lien Term Loan 4.233% (3 Month LIBOR USD + 4.00%), 06/26/2025 (a)
|
607,574
|
607,726
|
||||
Senior Secured Second Lien Term Loan 8.733% (3 Month LIBOR USD + 8.50%), 06/26/2026 (a)
|
215,000
|
214,821
|
||||
Spectrum Holdings III Corp., Senior Secured First Lien Term Loan 4.25% (6 Month LIBOR USD + 3.25%, 1.000% Floor), 01/31/2025 (a)
|
721,255
|
683,930
|
||||
Tronox Finance, LLC
|
||||||
Senior Secured First Lien Term Loan 3.147% (1 Month LIBOR USD + 3.00%), 09/23/2024 (a)
|
373,260
|
372,003
|
||||
Senior Secured First Lien Term Loan 3.254% (3 Month LIBOR USD + 3.00%), 09/23/2024 (a)
|
324,419
|
323,325
|
||||
8,273,966
|
||||||
COMMERCIAL SERVICES - 4.48%
|
||||||
AlixPartners, LLP, Senior Secured First Lien Term Loan 2.647% (1 Month LIBOR USD + 2.50%), 04/04/2024 (a)
|
1,807,807
|
1,791,853
|
||||
Allied Universal Holdco, LLC, Senior Secured First Lien Term Loan 4.397% (1 Month LIBOR USD + 4.25%), 07/10/2026 (a)
|
1,128,600
|
1,125,491
|
||||
Camelot U.S. Acquisition 1 Co.
|
||||||
Senior Secured First Lien Term Loan 3.147% (1 Month LIBOR USD + 3.00%), 10/30/2026 (a)
|
797,675
|
795,266
|
||||
Senior Secured First Lien Term Loan 4.00% (1 Month LIBOR USD + 3.00%, 1.000% Floor), 10/30/2026 (a)
|
1,932,000
|
1,935,014
|
||||
Deerfield Dakota Holding, LLC, Senior Secured First Lien Term Loan 4.75% (1 Month LIBOR USD + 3.75%, 1.000% Floor), 04/09/2027 (a)
|
1,362,576
|
1,370,459
|
||||
EAB Global, Inc.
|
||||||
Senior Secured First Lien Term Loan 4.75% (3 Month LIBOR USD + 3.75%, 1.000% Floor), 11/15/2024 (a)
|
1,244
|
1,238
|
||||
Senior Secured First Lien Term Loan 4.75% (6 Month LIBOR USD + 3.75%, 1.000% Floor), 11/15/2024 (a)
|
482,668
|
480,104
|
||||
Garda World Security Corp., Senior Secured First Lien Term Loan 4.99% (3 Month LIBOR USD + 4.75%), 10/30/2026 (a)
|
590,876
|
592,501
|
||||
IRI Holdings, Inc., Senior Secured First Lien Term Loan 4.397% (1 Month LIBOR USD + 4.25%), 12/01/2025 (a)
|
2,203,928
|
2,184,643
|
||||
KAR Auction Services, Inc., Senior Secured First Lien Term Loan 2.438% (1 Month LIBOR USD + 2.25%), 09/21/2026 (a)
|
664,747
|
655,606
|
||||
Tempo Acquisition, LLC, Senior Secured First Lien Term Loan 2.897% (1 Month LIBOR USD + 2.75%), 05/01/2024 (a)
|
1,515,355
|
1,507,778
|
||||
12,439,953
|
||||||
CONSTRUCTION & ENGINEERING - 1.43%
|
||||||
Amentum Government Services Holdings, LLC, Senior Secured First Lien Term Loan 3.645% (1 Month LIBOR USD + 3.50%), 02/01/2027 (a)
|
952,215
|
952,214
|
||||
American Residential Services, LLC, Senior Secured First Lien Term Loan 4.25% (3 Month LIBOR USD + 3.50%, 0.750% Floor), 10/15/2027 (a)
|
679,000
|
679,849
|
||||
Api Group DE, Inc.
|
||||||
Senior Secured First Lien Term Loan 2.647% (1 Month LIBOR USD + 2.50%), 10/01/2026 (a)
|
586,020
|
585,745
|
||||
Senior Secured First Lien Term Loan 2.896% (1 Month LIBOR USD + 2.75%), 10/01/2026 (a)
|
523,069
|
523,723
|
||||
Brand Industrial Services, Inc., Senior Secured First Lien Term Loan 5.25% (3 Month LIBOR USD + 4.25%, 1.000% Floor), 06/21/2024 (a)
|
1,256,271
|
1,227,773
|
||||
3,969,304
|
||||||
CONSUMER DISCRETIONARY - 1.35%
|
||||||
Champ Acquisition Corp.
|
||||||
Senior Secured First Lien Term Loan 5.754% (3 Month LIBOR USD + 5.50%), 12/19/2025 (a)
|
91,382
|
91,245
|
||||
Senior Secured First Lien Term Loan 5.757% (6 Month LIBOR USD + 5.50%), 12/19/2025 (a)
|
91,381
|
91,244
|
||||
Kontoor Brands, Inc., Senior Secured First Lien Term Loan 4.397% (1 Month LIBOR USD + 4.25%), 05/15/2026 (a)
|
315,917
|
315,917
|
||||
Learning Care Group (U.S.) No. 2, Inc.
|
||||||
Senior Secured First Lien Term Loan 4.25% (3 Month LIBOR USD + 3.25%, 1.000% Floor), 03/13/2025 (a)
|
30,127
|
28,693
|
||||
Senior Secured First Lien Term Loan 4.25% (6 Month LIBOR USD + 3.25%, 1.000% Floor), 03/13/2025 (a)
|
431,931
|
411,371
|
||||
Prometric Holdings, Inc., Senior Secured First Lien Term Loan 4.00% (1 Month LIBOR USD + 3.00%, 1.000% Floor), 01/29/2025 (a)
|
973,600
|
950,719
|
||||
Renaissance Holding Corp., Senior Secured First Lien Term Loan 3.396% (1 Month LIBOR USD + 3.25%), 05/30/2025 (a)
|
511,875
|
504,356
|
||||
SIWF Holdings, Inc., Senior Secured First Lien Term Loan 4.397% (1 Month LIBOR USD + 4.25%), 06/13/2025 (a)
|
565,500
|
562,910
|
||||
Wand NewCo 3, Inc., Senior Secured First Lien Term Loan 3.147% (1 Month LIBOR USD + 3.00%), 02/05/2026 (a)
|
792,965
|
783,251
|
||||
3,739,706
|
||||||
CONSUMER NON-DISCRETIONARY - 1.12%
|
||||||
Alphabet Holding Co., Inc.
|
||||||
Senior Secured First Lien Term Loan 3.647% (1 Month LIBOR USD + 3.50%), 09/26/2024 (a)
|
1,349,271
|
1,339,617
|
||||
Senior Secured Second Lien Term Loan 7.897% (1 Month LIBOR USD + 7.75%), 09/26/2025 (a)
|
350,000
|
349,475
|
||||
Hoffmaster Group, Inc., Senior Secured First Lien Term Loan 5.00% (3 Month LIBOR USD + 4.00%, 1.000% Floor), 11/21/2023 (a)
|
720,000
|
637,200
|
||||
Kronos Acquisition Holdings, Inc., Senior Secured First Lien Term Loan 5.25% (LIBOR USD + 0.00%), 12/17/2026 (a)(h)
|
785,000
|
787,763
|
||||
3,114,055
|
||||||
ENVIRONMENTAL SERVICES - 1.07%
|
||||||
Asplundh Tree Expert, LLC, Senior Secured First Lien Term Loan 2.647% (1 Month LIBOR USD + 2.50%), 09/07/2027 (a)
|
638,400
|
641,394
|
||||
Belfor Holdings, Inc., Senior Secured First Lien Term Loan 4.147% (1 Month LIBOR USD + 4.00%), 04/06/2026 (a)
|
462,950
|
464,131
|
||||
Brightview Landscapes, LLC, Senior Secured First Lien Term Loan 2.688% (1 Month LIBOR USD + 2.50%), 08/15/2025 (a)
|
1,116,375
|
1,114,516
|
||||
Strategic Materials Holdings Corp., Senior Secured First Lien Term Loan 4.75% (3 Month LIBOR USD + 3.75%, 1.000% Floor), 11/01/2024 (a)
|
921,500
|
757,215
|
||||
2,977,256
|
||||||
FINANCIALS - DIVERSIFIED - 2.32%
|
||||||
Avolon TLB Borrower 1 (U.S.), LLC, Senior Secured First Lien Term Loan 2.50% (1 Month LIBOR USD + 1.75%, 0.750% Floor), 01/15/2025 (a)
|
147,341
|
146,559
|
||||
Blackstone Mortgage Trust, Inc., Senior Secured First Lien Term Loan 2.397% (1 Month LIBOR USD + 2.25%), 04/23/2026 (a)
|
577,688
|
570,466
|
||||
Financial & Risk U.S. Holdings, Inc., Senior Secured First Lien Term Loan 3.397% (1 Month LIBOR USD + 3.25%), 10/01/2025 (a)
|
760,240
|
760,084
|
||||
Focus Financial Partners, LLC, Senior Secured First Lien Term Loan 2.147% (1 Month LIBOR USD + 2.00%), 07/03/2024 (a)
|
617,068
|
614,304
|
||||
Micro Holding Corp., Senior Secured First Lien Term Loan 3.647% (1 Month LIBOR USD + 3.50%), 09/13/2024 (a)
|
692,355
|
684,957
|
||||
Starwood Property Mortgage, LLC, Senior Secured First Lien Term Loan 2.647% (1 Month LIBOR USD + 2.50%), 07/27/2026 (a)
|
469,063
|
466,717
|
||||
Titan AcquisitionCo New Zealand, Ltd., Senior Secured First Lien Term Loan 4.254% (3 Month LIBOR USD + 4.00%), 05/01/2026 (a)
|
477,601
|
472,228
|
||||
VFH Parent, LLC, Senior Secured First Lien Term Loan 3.153% (1 Month LIBOR USD + 3.00%), 03/02/2026 (a)
|
2,735,202
|
2,736,050
|
||||
6,451,365
|
||||||
FINANCIALS - INSURANCE - 3.04%
|
||||||
Acrisure, LLC, Senior Secured First Lien Term Loan 3.647% (1 Month LIBOR USD + 3.50%), 02/16/2027 (a)
|
869,475
|
855,529
|
||||
AssuredPartners, Inc., Senior Secured First Lien Term Loan 3.647% (1 Month LIBOR USD + 3.50%), 02/12/2027 (a)
|
1,230,049
|
1,213,996
|
||||
Asurion, LLC
|
||||||
Senior Secured First Lien Term Loan 3.147% (1 Month LIBOR USD + 3.00%), 11/03/2023 (a)
|
407,279
|
403,799
|
||||
Senior Secured First Lien Term Loan 3.147% (1 Month LIBOR USD + 3.00%), 11/04/2024 (a)
|
1,463,525
|
1,454,011
|
||||
Senior Secured Second Lien Term Loan 6.647% (1 Month LIBOR USD + 6.50%), 08/04/2025 (a)
|
601,212
|
607,074
|
||||
Senior Secured First Lien Term Loan 3.397% (1 Month LIBOR USD + 3.25%), 12/23/2026 (a)
|
2,095,642
|
2,077,306
|
||||
HUB International, Ltd.
|
||||||
Senior Secured First Lien Term Loan 2.965% (3 Month LIBOR USD + 2.75%), 04/25/2025 (a)
|
716,625
|
704,868
|
||||
Senior Secured First Lien Term Loan 5.00% (3 Month LIBOR USD + 4.00%, 1.000% Floor), 04/25/2025 (a)
|
346,500
|
348,033
|
||||
Sedgwick Claims Management Services, Inc., Senior Secured First Lien Term Loan 4.147% (1 Month LIBOR USD + 4.00%), 09/03/2026 (a)
|
788,000
|
787,362
|
||||
8,451,978
|
||||||
FINANCIALS - THRIFTS & MORTGAGES - 0.11%
|
||||||
PHH Mortgage Corp., Senior Secured First Lien Term Loan 7.00% (1 Month LIBOR USD + 6.00%, 1.000% Floor), 05/16/2022 (a)
|
309,048
|
308,404
|
||||
FOOD & BEVERAGE - 0.94%
|
||||||
Dole Food Co., Inc., Senior Secured First Lien Term Loan 3.75% (1 Month LIBOR USD + 2.75%, 1.000% Floor), 04/08/2024 (a)
|
730,000
|
730,405
|
||||
Froneri U.S., Inc., Senior Secured First Lien Term Loan 2.397% (1 Month LIBOR USD + 2.25%), 01/29/2027 (a)
|
646,750
|
641,576
|
||||
H-Food Holdings, LLC,
|
||||||
Senior Secured First Lien Term Loan 3.834% (1 Month LIBOR USD + 3.6875%), 05/23/2025 (a)
|
887,250
|
873,871
|
||||
Senior Secured First Lien Term Loan 4.147% (1 Month LIBOR USD + 4.00%), 05/23/2025 (a)
|
122,500
|
121,045
|
||||
Sunshine Investments B.V., Senior Secured First Lien Term Loan 3.471% (3 Month LIBOR USD + 3.25%), 03/28/2025 (a)
|
237,600
|
236,709
|
||||
2,603,606
|
||||||
HEALTHCARE - EQUIPMENT & SUPPLIES - 1.74%
|
||||||
athenahealth, Inc., Senior Secured First Lien Term Loan 4.648% (1 Month LIBOR USD + 4.50%), 02/11/2026 (a)
|
648,450
|
649,261
|
||||
Greatbatch, Ltd., Senior Secured First Lien Term Loan 3.50% (1 Month LIBOR USD + 2.50%, 1.000% Floor), 10/27/2022 (a)
|
455,577
|
456,005
|
||||
Greenway Health, LLC, Senior Secured First Lien Term Loan 4.75% (6 Month LIBOR USD + 3.75%, 1.000% Floor), 02/16/2024 (a)
|
627,250
|
580,206
|
||||
Milano Acquisition Corp., Senior Secured First Lien Term Loan 4.75% (3 Month LIBOR USD + 4.00%, 0.750% Floor), 10/01/2027 (a)
|
390,000
|
390,893
|
||||
MPH Acquisition Holdings, LLC, Senior Secured First Lien Term Loan 3.75% (3 Month LIBOR USD + 2.75%, 1.000% Floor), 06/07/2023 (a)
|
1,345,130
|
1,341,458
|
||||
Navicure, Inc.
|
||||||
Senior Secured First Lien Term Loan 4.147% (1 Month LIBOR USD + 4.00%), 10/22/2026 (a)
|
650,088
|
650,091
|
||||
Senior Secured First Lien Term Loan 4.75% (1 Month LIBOR USD + 4.00%, 0.750% Floor), 10/22/2026 (a)
|
354,113
|
354,555
|
||||
Vizient, Inc., Senior Secured First Lien Term Loan 2.146% (1 Month LIBOR USD + 2.00%), 05/06/2026 (a)
|
404,790
|
402,430
|
||||
4,824,899
|
||||||
HEALTHCARE - FACILITIES - 3.28%
|
||||||
ADMI Corp., Senior Secured First Lien Term Loan 4.75% (1 Month LIBOR USD + 4.00%, 0.750% Floor), 12/23/2027 (a)
|
758,000
|
760,085
|
||||
AHP Health Partners, Inc., Senior Secured First Lien Term Loan 5.50% (1 Month LIBOR USD + 4.50%, 1.000% Floor), 06/30/2025 (a)
|
599,485
|
602,950
|
||||
Bioscrip, Inc., Senior Secured First Lien Term Loan 4.397% (1 Month LIBOR USD + 4.25%), 08/06/2026 (a)
|
425,700
|
425,613
|
||||
CHG Healthcare Services, Inc., Senior Secured First Lien Term Loan 4.00% (6 Month LIBOR USD + 3.00%, 1.000% Floor), 06/07/2023 (a)
|
875,724
|
872,303
|
||||
Dentalcorp Perfect Smile, ULC, Senior Secured First Lien Term Loan 4.75% (1 Month LIBOR USD + 3.75%, 1.000% Floor), 06/06/2025 (a)
|
561,034
|
552,795
|
||||
Envision Healthcare Corp., Senior Secured First Lien Term Loan 3.897% (1 Month LIBOR USD + 3.75%), 10/10/2025 (a)
|
817,895
|
685,911
|
||||
Examworks Group, Inc., Senior Secured First Lien Term Loan 4.25% (6 Month LIBOR USD + 3.25%, 1.000% Floor), 07/27/2023 (a)
|
1,203,544
|
1,204,049
|
||||
Gentiva Health Services, Inc., Senior Secured First Lien Term Loan 3.438% (1 Month LIBOR USD + 3.25%), 07/02/2025 (a)
|
719,747
|
717,951
|
||||
Global Medical Response, Inc.
|
||||||
Senior Secured First Lien Term Loan 5.25% (6 Month LIBOR USD + 4.25%, 1.000% Floor), 03/14/2025 (a)
|
373,450
|
370,649
|
||||
Senior Secured First Lien Term Loan 5.75% (6 Month LIBOR USD + 4.75%, 1.000% Floor), 10/02/2025 (a)
|
540,000
|
537,638
|
||||
Heartland Dental, LLC, Senior Secured First Lien Term Loan 3.647% (1 Month LIBOR USD + 3.50%), 04/30/2025 (a)
|
819,670
|
801,482
|
||||
Pluto Acquisition I, Inc., Senior Secured First Lien Term Loan 5.50% (1 Month LIBOR USD + 5.00%, 0.500% Floor), 06/22/2026 (a)
|
534,000
|
536,003
|
||||
RegionalCare Hospital Partners Holdings, Inc., Senior Secured First Lien Term Loan 3.897% (1 Month LIBOR USD + 3.75%), 11/14/2025 (a)
|
641,549
|
641,109
|
||||
Team Health Holdings, Inc., Senior Secured First Lien Term Loan 3.75% (1 Month LIBOR USD + 2.75%, 1.000% Floor), 02/06/2024 (a)
|
438,283
|
392,500
|
||||
9,101,038
|
||||||
HEALTHCARE - LIFE SCIENCES - 1.38%
|
||||||
Albany Molecular Research, Inc.
|
||||||
Senior Secured First Lien Term Loan 4.25% (3 Month LIBOR USD + 3.25%, 1.000% Floor), 08/28/2024 (a)
|
596,004
|
599,234
|
||||
Senior Secured First Lien Term Loan 4.50% (3 Month LIBOR USD + 3.50%, 1.000% Floor), 08/30/2024 (a)
|
333,576
|
335,246
|
||||
Avantor Funding, Inc., Senior Secured First Lien Term Loan 3.50% (1 Month LIBOR USD + 2.50%, 1.000% Floor), 11/08/2027 (a)
|
790,107
|
792,580
|
||||
Cambrex Corp., Senior Secured First Lien Term Loan 5.50% (1 Month LIBOR USD + 4.50%, 1.000% Floor), 12/04/2026 (a)
|
634,335
|
640,678
|
||||
Jaguar Holding Co. II, Senior Secured First Lien Term Loan 3.50% (1 Month LIBOR USD + 2.50%, 1.000% Floor), 08/18/2022 (a)
|
959,984
|
960,766
|
||||
Parexel International Corp., Senior Secured First Lien Term Loan 2.897% (1 Month LIBOR USD + 2.75%), 09/27/2024 (a)
|
506,372
|
498,777
|
||||
3,827,281
|
||||||
HEALTHCARE - MANAGED HEALTH CARE - 0.31%
|
||||||
Verscend Holding Corp., Senior Secured First Lien Term Loan 4.647% (1 Month LIBOR USD + 4.50%), 08/27/2025 (a)
|
852,636
|
853,915
|
||||
HEALTHCARE - PHARMACEUTICALS & BIOTECHNOLOGY - 0.87%
|
||||||
Amneal Pharmaceuticals, LLC, Senior Secured First Lien Term Loan 3.688% (1 Month LIBOR USD + 3.50%), 05/05/2025 (a)
|
387,997
|
379,308
|
||||
Bausch Health Cos., Inc., Senior Secured First Lien Term Loan 3.145% (1 Month LIBOR USD + 3.00%), 06/02/2025 (a)
|
938,381
|
936,185
|
||||
Grifols Worldwide Operations, Senior Secured First Lien Term Loan 2.102% (LIBOR USD + 0.00%), 11/15/2027 (a)(h)
|
683,850
|
679,042
|
||||
RPI Intermediate Finance Trust, Senior Secured First Lien Term Loan 1.896% (1 Month LIBOR USD + 1.75%), 02/11/2027 (a)
|
423,266
|
423,848
|
||||
2,418,383
|
||||||
INDUSTRIAL MACHINERY - 3.99%
|
||||||
Blount International, Inc., Senior Secured First Lien Term Loan 4.75% (1 Month LIBOR USD + 3.75%, 1.000% Floor), 04/12/2023 (a)
|
602,700
|
607,220
|
||||
Brookfield WEC Holdings, Inc., Senior Secured First Lien Term Loan 3.75% (1 Month LIBOR USD + 3.00%, 0.750% Floor), 08/01/2025 (a)
|
997,455
|
996,388
|
||||
Columbus McKinnon Corp., Senior Secured First Lien Term Loan 3.50% (3 Month LIBOR USD + 2.50%, 1.000% Floor), 01/31/2024 (a)
|
373,951
|
374,886
|
||||
CPM Holdings, Inc.
|
||||||
Senior Secured First Lien Term Loan 3.908% (1 Month LIBOR USD + 3.75%), 11/17/2025 (a)
|
588,000
|
574,403
|
||||
Senior Secured Second Lien Term Loan 8.408% (1 Month LIBOR USD + 8.25%), 11/16/2026 (a)
|
275,000
|
257,813
|
||||
EWT Holdings III Corp., Senior Secured First Lien Term Loan 2.647% (1 Month LIBOR USD + 2.50%), 12/20/2024 (a)
|
1,293,396
|
1,292,323
|
||||
Filtration Group Corp.
|
||||||
Senior Secured First Lien Term Loan 3.147% (1 Month LIBOR USD + 3.00%), 03/31/2025 (a)
|
1,557,110
|
1,545,525
|
||||
Senior Secured First Lien Term Loan 4.50% (1 Month LIBOR USD + 3.75%, 0.750% Floor), 03/31/2025 (a)
|
1,042,388
|
1,045,515
|
||||
Helix Acquisition Holdings, Inc., Senior Secured First Lien Term Loan 4.004% (3 Month LIBOR USD + 3.75%), 09/30/2024 (a)
|
615,666
|
589,500
|
||||
Penn Engineering & Manufacturing Corp., Senior Secured First Lien Term Loan 3.75% (3 Month LIBOR USD + 2.75%, 1.000% Floor), 06/27/2024 (a)
|
601,033
|
599,158
|
||||
Pro Mach Group, Inc., Senior Secured First Lien Term Loan 2.897% (1 Month LIBOR USD + 2.75%), 03/07/2025 (a)
|
486,250
|
478,956
|
||||
UOS, LLC, Senior Secured First Lien Term Loan 4.398% (1 Month LIBOR USD + 4.25%), 04/18/2025 (a)
|
608,874
|
610,460
|
||||
Vertical U.S. Newco, Inc., Senior Secured First Lien Term Loan 4.567% (6 Month LIBOR USD + 4.25%), 07/14/2027 (a)
|
463,838
|
467,977
|
||||
Vertiv Group Corp., Senior Secured First Lien Term Loan 3.153% (1 Month LIBOR USD + 3.00%), 03/02/2027 (a)
|
1,245,588
|
1,240,045
|
||||
Welbilt, Inc., Senior Secured First Lien Term Loan 2.645% (1 Month LIBOR USD + 2.50%), 10/23/2025 (a)
|
415,553
|
395,295
|
||||
11,075,464
|
||||||
LEISURE - CASINOS & GAMING - 2.63%
|
||||||
Aristocrat International PTY, Ltd., Senior Secured First Lien Term Loan 4.75% (3 Month LIBOR USD + 3.75%, 1.000% Floor), 10/21/2024 (a)
|
477,600
|
480,437
|
||||
Caesars Resort Collection, LLC, Senior Secured First Lien Term Loan 2.897% (1 Month LIBOR USD + 2.75%), 12/23/2024 (a)
|
756,600
|
744,120
|
||||
Golden Entertainment, Inc., Senior Secured First Lien Term Loan 3.75% (1 Month LIBOR USD + 3.00%, 0.750% Floor), 10/21/2024 (a)
|
591,775
|
580,721
|
||||
Golden Nugget, Inc.
|
||||||
Senior Secured First Lien Term Loan 3.25% (1 Month LIBOR USD + 2.50%, 0.750% Floor), 10/04/2023 (a)
|
209,904
|
203,336
|
||||
Senior Secured First Lien Term Loan 3.25% (2 Month LIBOR USD + 2.50%, 0.750% Floor), 10/04/2023 (a)
|
247,639
|
239,890
|
||||
GVC Holdings PLC, Senior Secured First Lien Term Loan 3.25% (3 Month LIBOR USD + 2.25%, 1.000% Floor), 03/29/2024 (a)
|
466,800
|
468,112
|
||||
Playtika Holding Corp., Senior Secured First Lien Term Loan 7.00% (6 Month LIBOR USD + 6.00%, 1.000% Floor), 12/10/2024 (a)
|
1,269,661
|
1,279,837
|
||||
Scientific Games International, Inc., Senior Secured First Lien Term Loan 2.897% (1 Month LIBOR USD + 2.75%), 08/14/2024 (a)
|
1,473,972
|
1,443,570
|
||||
Stars Group Holdings B.V., Senior Secured First Lien Term Loan 3.754% (3 Month LIBOR USD + 3.50%), 07/10/2025 (a)
|
1,038,294
|
1,043,200
|
||||
Station Casinos, LLC, Senior Secured First Lien Term Loan 2.50% (1 Month LIBOR USD + 2.25%, 0.250% Floor), 02/08/2027 (a)
|
836,722
|
825,983
|
||||
7,309,206
|
||||||
LEISURE - HOTELS - 1.77%
|
||||||
Alterra Mountain Co., Senior Secured First Lien Term Loan 2.897% (1 Month LIBOR USD + 2.75%), 07/31/2024 (a)
|
1,222,971
|
1,209,720
|
||||
Four Seasons Hotels, Ltd., Senior Secured First Lien Term Loan 2.147% (1 Month LIBOR USD + 2.00%), 11/30/2023 (a)
|
499,394
|
497,296
|
||||
Lakeland Tours, LLC
|
||||||
Senior Secured First Lien Term Loan 7.25% (3 Month LIBOR USD + 6.00%, 1.250% Floor), 09/25/2023 (a)
|
109,081
|
109,490
|
||||
Senior Secured First Lien Term Loan 2.75% (1 Month LIBOR USD + 1.50%, 1.250% Floor), 09/25/2025 (a)
|
217,585
|
103,353
|
||||
Senior Secured First Lien Term Loan 2.75% (3 Month LIBOR USD + 1.50%, 1.250% Floor), 09/25/2025 (a)
|
173,326
|
148,193
|
||||
Senior Secured First Lien Term Loan 7.25%, 09/27/2027
|
225,670
|
41,185
|
||||
Marriott Ownership Resorts, Inc., Senior Secured First Lien Term Loan 1.897% (1 Month LIBOR USD + 1.75%), 08/29/2025 (a)
|
677,977
|
667,173
|
||||
SeaWorld Parks & Entertainment, Inc., Senior Secured First Lien Term Loan 3.75% (1 Month LIBOR USD + 3.00%, 0.750% Floor), 04/01/2024 (a)
|
1,158,879
|
1,129,595
|
||||
United PF Holdings, LLC, Senior Secured First Lien Term Loan 4.254% (3 Month LIBOR USD + 4.00%), 12/30/2026 (a)
|
1,060,354
|
1,000,974
|
||||
4,906,979
|
||||||
LEISURE - RESTAURANTS - 1.04%
|
||||||
IRB Holding Corp.
|
||||||
Senior Secured First Lien Term Loan 3.75% (3 Month LIBOR USD + 2.75%, 1.000% Floor), 02/05/2025 (a)
|
750,096
|
745,194
|
||||
Senior Secured First Lien Term Loan 4.25% (3 Month LIBOR USD + 3.25%, 1.000% Floor), 12/15/2027 (a)
|
660,000
|
661,960
|
||||
K-Mac Holdings Corp., Senior Secured First Lien Term Loan 3.147% (1 Month LIBOR USD + 3.00%), 03/14/2025 (a)
|
580,035
|
572,784
|
||||
Tacala, LLC, Senior Secured First Lien Term Loan 4.50% (1 Month LIBOR USD + 3.75%, 0.750% Floor), 02/05/2027 (a)
|
911,864
|
906,639
|
||||
2,886,577
|
||||||
MEDIA - BROADCASTING - 3.29%
|
||||||
CBS Radio, Inc., Senior Secured First Lien Term Loan 2.648% (1 Month LIBOR USD + 2.50%), 11/18/2024 (a)
|
536,303
|
525,577
|
||||
Diamond Sports Group, LLC, Senior Secured First Lien Term Loan 3.40% (1 Month LIBOR USD + 3.25%), 08/24/2026 (a)
|
680,517
|
605,660
|
||||
E.W. Scripps Co.
|
||||||
Senior Secured First Lien Term Loan 2.647% (1 Month LIBOR USD + 2.50%), 05/01/2026 (a)
|
938,347
|
930,428
|
||||
Senior Secured First Lien Term Loan 3.75% (1 Month LIBOR USD + 3.00%, 0.750% Floor), 01/07/2028 (a)
|
789,840
|
791,937
|
||||
Gray Television, Inc., Senior Secured First Lien Term Loan 2.655% (1 Month LIBOR USD + 2.50%), 01/02/2026 (a)
|
446,063
|
443,832
|
||||
Hubbard Radio, LLC, Senior Secured First Lien Term Loan 5.25% (3 Month LIBOR USD + 4.25%, 1.000% Floor), 03/28/2025 (a)
|
605,234
|
588,968
|
||||
iHeartCommunications, Inc., Senior Secured First Lien Term Loan 3.146% (1 Month LIBOR USD + 3.00%), 05/01/2026 (a)
|
862,290
|
850,076
|
||||
ION Media Networks, Inc., Senior Secured First Lien Term Loan 5.25% (Prime Rate + 2.00%), 12/18/2024 (a)
|
1,298,961
|
1,298,689
|
||||
Learfield Communications, LLC, Senior Secured First Lien Term Loan 4.25% (1 Month LIBOR USD + 3.25%, 1.000% Floor), 12/01/2023 (a)
|
456,312
|
414,947
|
||||
Nexstar Broadcasting, Inc.
|
||||||
Senior Secured First Lien Term Loan 2.395% (3 Month LIBOR USD + 2.25%), 01/17/2024 (a)
|
132,006
|
131,088
|
||||
Senior Secured First Lien Term Loan 2.905% (1 Month LIBOR USD + 2.75%), 09/18/2026 (a)
|
1,082,221
|
1,077,356
|
||||
Sinclair Television Group, Inc., Senior Secured First Lien Term Loan 2.65% (1 Month LIBOR USD + 2.50%), 09/30/2026 (a)
|
933,188
|
925,605
|
||||
Univision Communications, Inc., Senior Secured First Lien Term Loan 3.75% (1 Month LIBOR USD + 2.75%, 1.000% Floor), 03/15/2024 (a)
|
570,735
|
568,418
|
||||
9,152,581
|
||||||
MEDIA - CABLE & SATELLITE - 4.84%
|
||||||
Block Communications, Inc., Senior Secured First Lien Term Loan 2.504% (3 Month LIBOR USD + 2.25%), 02/25/2027 (a)
|
581,605
|
577,002
|
||||
Connect U.S. Finco, LLC, Senior Secured First Lien Term Loan 5.50% (1 Month LIBOR USD + 4.50%, 1.000% Floor), 12/11/2026 (a)
|
1,240,625
|
1,247,827
|
||||
Coral-U.S. Co-Borrower, LLC, Senior Secured First Lien Term Loan 2.397% (1 Month LIBOR USD + 2.25%), 01/31/2028 (a)
|
585,000
|
578,969
|
||||
Maxar Technologies, Ltd., Senior Secured First Lien Term Loan 2.90% (1 Month LIBOR USD + 2.75%), 10/04/2024 (a)
|
1,540,786
|
1,522,613
|
||||
Mega Broadband Investments, LLC, Senior Secured First Lien Term Loan 3.75% (3 Month LIBOR USD + 3.00%, 0.750% Floor), 11/12/2027 (a)
|
525,000
|
525,412
|
||||
Midcontinent Communications, Senior Secured First Lien Term Loan 1.897% (1 Month LIBOR USD + 1.75%), 08/17/2026 (a)
|
587,563
|
586,340
|
||||
NewCo Financing Partnership, Senior Secured First Lien Term Loan 3.673% (3 Month LIBOR USD + 3.50%), 01/31/2029 (a)
|
548,500
|
551,037
|
||||
Radiate Holdco, LLC, Senior Secured First Lien Term Loan 4.25% (1 Month LIBOR USD + 3.50%, 0.750% Floor), 09/25/2026 (a)
|
950,000
|
952,817
|
||||
Telenet Financing USD, LLC, Senior Secured First Lien Term Loan 2.159% (1 Month LIBOR USD + 2.00%), 04/28/2028 (a)
|
2,230,000
|
2,205,269
|
||||
Telesat Canada, Senior Secured First Lien Term Loan 2.90% (1 Month LIBOR USD + 2.75%), 12/07/2026 (a)
|
292,907
|
290,792
|
||||
UPC Financing Partnership
|
||||||
Senior Secured First Lien Term Loan 2.409% (1 Month LIBOR USD + 2.25%), 04/28/2028 (a)
|
765,000
|
758,689
|
||||
Senior Secured First Lien Term Loan 3.677% (3 Month LIBOR USD + 3.50%), 01/31/2029 (a)
|
548,500
|
551,037
|
||||
Virgin Media Bristol, LLC, Senior Secured First Lien Term Loan 2.659% (1 Month LIBOR USD + 2.50%), 01/31/2028 (a)
|
1,035,000
|
1,027,051
|
||||
WideOpenWest Finance, LLC, Senior Secured First Lien Term Loan 4.25% (1 Month LIBOR USD + 3.25%, 1.000% Floor), 08/18/2023 (a)
|
1,264,471
|
1,263,504
|
||||
Xplornet Communications, Inc., Senior Secured First Lien Term Loan 4.897% (1 Month LIBOR USD + 4.75%), 06/10/2027 (a)
|
790,865
|
795,116
|
||||
13,433,475
|
||||||
MEDIA - DIVERSIFIED - 3.34%
|
||||||
ABG Intermediate Holdings 2, LLC, Senior Secured First Lien Term Loan 4.50% (3 Month LIBOR USD + 3.50%, 1.000% Floor), 09/27/2024 (a)
|
2,639,381
|
2,624,535
|
||||
Arches Buyer Inc., Senior Secured First Lien Term Loan 4.50% (1 Month LIBOR USD + 4.00%, 0.500% Floor), 12/06/2027 (a)
|
1,335,000
|
1,339,339
|
||||
Buzz Finco, LLC, Senior Secured First Lien Term Loan 3.75% (1 Month LIBOR USD + 3.25%, 0.500% Floor), 01/29/2027 (a)
|
349,125
|
349,343
|
||||
Buzz Merger Sub, Ltd., Senior Secured First Lien Term Loan 2.897% (1 Month LIBOR USD + 2.75%), 01/29/2027 (a)
|
625,275
|
622,930
|
||||
Catalina Marketing Corp., Senior Secured First Lien Term Loan 2.00% (1 Month LIBOR USD + 1.00%, 1.000% Floor), 08/15/2023 (a)
|
172,143
|
43,036
|
||||
Getty Images, Inc., Senior Secured First Lien Term Loan 4.688% (1 Month LIBOR USD + 4.50%), 02/19/2026 (a)
|
952,544
|
940,937
|
||||
Harland Clarke Holdings Corp., Senior Secured First Lien Term Loan 5.75% (3 Month LIBOR USD + 4.75%, 1.000% Floor), 11/03/2023 (a)
|
669,145
|
595,499
|
||||
Match Group, Inc., Senior Secured First Lien Term Loan 1.964% (3 Month LIBOR USD + 1.75%), 02/15/2027 (a)
|
575,000
|
571,050
|
||||
Meredith Corp., Senior Secured First Lien Term Loan 2.647% (1 Month LIBOR USD + 2.50%), 01/31/2025 (a)
|
795,764
|
789,299
|
||||
Nielsen Finance, LLC, Senior Secured First Lien Term Loan 4.75% (1 Month LIBOR USD + 3.75%, 1.000% Floor), 06/04/2025 (a)
|
746,250
|
753,089
|
||||
Red Ventures, LLC, Senior Secured First Lien Term Loan 2.647% (1 Month LIBOR USD + 2.50%), 11/08/2024 (a)
|
670,397
|
660,710
|
||||
9,289,767
|
||||||
MEDIA - ENTERTAINMENT - 3.19%
|
||||||
CDS U.S. Intermediate Holdings, Inc., Senior Secured First Lien Term Loan 7.00% (3 Month LIBOR USD + 6.00%, 1.000% Floor), 11/13/2025 (a)
|
642,873
|
618,766
|
||||
Cirque Du Soleil Holding, Senior Secured Second Lien Term Loan 2.00% (3 Month LIBOR USD + 1.00%, 1.000% Floor), 11/13/2027 (a)
|
345,292
|
289,182
|
||||
Creative Artists Agency, LLC, Senior Secured First Lien Term Loan 3.897% (1 Month LIBOR USD + 3.75%), 11/26/2026 (a)
|
829,620
|
822,017
|
||||
Crown Finance U.S., Inc.
|
||||||
Senior Secured First Lien Term Loan 7.00%, 05/23/2024
|
298,650
|
357,633
|
||||
Senior Secured First Lien Term Loan 7.254% (3 Month LIBOR USD + 7.00%), 05/23/2024 (a)
|
2,601
|
3,115
|
||||
Senior Secured First Lien Term Loan 2.769% (3 Month LIBOR USD + 2.50%, 1.000% Floor), 02/28/2025 (a)
|
707,858
|
484,217
|
||||
Lions Gate Capital Holdings, LLC, Senior Secured First Lien Term Loan 2.397% (1 Month LIBOR USD + 2.25%), 03/24/2025 (a)
|
442,103
|
437,406
|
||||
Metro-Goldwyn-Mayer, Inc., Senior Secured Second Lien Term Loan 5.50% (1 Month LIBOR USD + 4.50%, 1.000% Floor), 07/03/2026 (a)
|
635,000
|
634,603
|
||||
NAI Entertainment Holdings, LLC, Senior Secured First Lien Term Loan 3.50% (1 Month LIBOR USD + 2.50%, 1.000% Floor), 05/08/2025 (a)
|
514,479
|
484,789
|
||||
Nascar Holdings, LLC, Senior Secured First Lien Term Loan 2.896% (1 Month LIBOR USD + 2.75%), 10/19/2026 (a)
|
693,796
|
692,006
|
||||
UFC Holdings, LLC, Senior Secured First Lien Term Loan 4.25% (3 Month LIBOR USD + 3.25%, 1.000% Floor), 04/29/2026 (a)
|
1,514,046
|
1,511,797
|
||||
William Morris Endeavor Entertainment, LLC, Senior Secured First Lien Term Loan 2.895% (1 Month LIBOR USD + 2.75%), 05/16/2025 (a)
|
2,252,286
|
2,088,048
|
||||
WMG Acquisition Corp., Senior Secured First Lien Term Loan 2.272% (1 Month LIBOR USD + 2.125%), 11/01/2023 (a)
|
434,744
|
435,490
|
||||
8,859,069
|
||||||
METALS & MINING - 0.16%
|
||||||
GrafTech Finance, Inc., Senior Secured First Lien Term Loan 4.50% (1 Month LIBOR USD + 3.50%, 1.000% Floor), 02/12/2025 (a)
|
447,646
|
448,394
|
||||
MIDSTREAM - STORAGE & TRANSPORT - 1.24%
|
||||||
Brazos Delaware II, LLC, Senior Secured First Lien Term Loan 4.152% (1 Month LIBOR USD + 4.00%), 05/21/2025 (a)
|
394,805
|
345,877
|
||||
Buckeye Partners, L.P., Senior Secured First Lien Term Loan 2.897% (1 Month LIBOR USD + 2.75%), 11/02/2026 (a)
|
689,788
|
690,005
|
||||
Lower Cadence Holdings, LLC, Senior Secured First Lien Term Loan 4.147% (1 Month LIBOR USD + 4.00%), 05/22/2026 (a)
|
651,194
|
637,561
|
||||
Lucid Energy Group II Borrower, LLC, Senior Secured First Lien Term Loan 4.00% (1 Month LIBOR USD + 3.00%, 1.000% Floor), 02/18/2025 (a)
|
451,701
|
430,762
|
||||
Northriver Midstream Finance, L.P., Senior Secured First Lien Term Loan 3.475% (3 Month LIBOR USD + 3.25%), 10/01/2025 (a)
|
738,013
|
728,990
|
||||
Traverse Midstream Partners, LLC, Senior Secured First Lien Term Loan 6.50% (1 Month LIBOR USD + 5.50%, 1.000% Floor), 09/27/2024 (a)
|
612,689
|
603,211
|
||||
3,436,406
|
||||||
OIL & GAS - EQUIPMENT & SERVICES - 0.13%
|
||||||
U.S. Silica Co., Senior Secured First Lien Term Loan 5.00% (1 Month LIBOR USD + 4.00%, 1.000% Floor), 05/01/2025 (a)
|
408,400
|
359,449
|
||||
PACKAGING - 2.62%
|
||||||
Ball Metalpack Finco, LLC, Senior Secured First Lien Term Loan 4.733% (3 Month LIBOR USD + 4.50%), 07/31/2025 (a)
|
733,712
|
722,340
|
||||
Berry Global, Inc., Senior Secured First Lien Term Loan 2.149% (1 Month LIBOR USD + 2.00%), 07/01/2026 (a)
|
807,700
|
805,078
|
||||
Flex Acquisition Co.
|
||||||
Senior Secured First Lien Term Loan 4.00% (1 Month LIBOR USD + 3.00%, 1.000% Floor), 12/29/2023 (a)
|
41,949
|
41,818
|
||||
Senior Secured First Lien Term Loan 4.00% (3 Month LIBOR USD + 3.00%, 1.000% Floor), 12/29/2023 (a)
|
600,501
|
598,624
|
||||
Senior Secured First Lien Term Loan 3.225% (3 Month LIBOR USD + 3.00%), 06/30/2025 (a)
|
585,523
|
579,668
|
||||
Mauser Packaging Solutions Holding Co., Senior Secured First Lien Term Loan 3.48% (3 Month LIBOR USD + 3.25%), 04/03/2024 (a)
|
1,418,357
|
1,374,033
|
||||
Pregis Topco, LLC
|
||||||
Senior Secured First Lien Term Loan 3.897% (1 Month LIBOR USD + 3.75%), 07/31/2026 (a)
|
539,550
|
538,201
|
||||
Senior Secured First Lien Term Loan 5.00% (1 Month LIBOR USD + 4.25%, 0.750% Floor), 07/31/2026 (a)
|
550,000
|
547,938
|
||||
Reynolds Consumer Products, LLC, Senior Secured First Lien Term Loan 1.897% (1 Month LIBOR USD + 1.75%), 02/04/2027 (a)
|
565,249
|
562,618
|
||||
Reynolds Group Holdings, Inc., Senior Secured First Lien Term Loan 2.896% (1 Month LIBOR USD + 2.75%), 02/06/2023 (a)
|
231,645
|
231,066
|
||||
Sabert Corp., Senior Secured First Lien Term Loan 5.50% (1 Month LIBOR USD + 4.50%, 1.000% Floor), 12/10/2026 (a)
|
549,614
|
549,842
|
||||
TricorBraun Holdings, Inc., Senior Secured First Lien Term Loan 4.75% (3 Month LIBOR USD + 3.75%, 1.000% Floor), 11/30/2023 (a)
|
733,195
|
730,445
|
||||
7,281,671
|
||||||
RETAIL - FOOD & DRUG - 0.77%
|
||||||
BJ's Wholesale Club, Inc., Senior Secured First Lien Term Loan 2.154% (1 Month LIBOR USD + 2.00%), 02/02/2024 (a)
|
770,801
|
771,406
|
||||
JP Intermediate B, LLC, Senior Secured First Lien Term Loan 6.50% (3 Month LIBOR USD + 5.50%, 1.000% Floor), 11/20/2025 (a)
|
588,366
|
524,675
|
||||
U.S. Foods, Inc., Senior Secured First Lien Term Loan 1.897% (1 Month LIBOR USD + 1.75%), 06/27/2023 (a)
|
844,409
|
834,576
|
||||
2,130,657
|
||||||
RETAILING - 1.86%
|
||||||
Bass Pro Group, LLC, Senior Secured First Lien Term Loan 5.75% (1 Month LIBOR USD + 5.00%, 0.750% Floor), 09/25/2024 (a)
|
772,846
|
776,575
|
||||
Belron Finance U.S., LLC, Senior Secured First Lien Term Loan 2.463% (3 Month LIBOR USD + 2.25%), 11/07/2024 (a)
|
601,400
|
602,152
|
||||
Harbor Freight Tools U.S.A., Inc., Senior Secured First Lien Term Loan 4.00% (1 Month LIBOR USD + 3.25%, 0.750% Floor), 10/19/2027 (a)
|
730,000
|
731,329
|
||||
Hoya Midco, LLC, Senior Secured First Lien Term Loan 4.50% (6 Month LIBOR USD + 3.50%, 1.000% Floor), 06/28/2024 (a)
|
967,002
|
917,447
|
||||
Jo-Ann Stores, LLC, Senior Secured First Lien Term Loan 6.00% (6 Month LIBOR USD + 5.00%, 1.000% Floor), 10/20/2023 (a)
|
415,032
|
401,718
|
||||
Michaels Stores, Inc., Senior Secured First Lien Term Loan 4.25% (1 Month LIBOR USD + 3.50%, 0.750% Floor), 10/01/2027 (a)
|
754,002
|
750,941
|
||||
Pug, LLC, Senior Secured First Lien Term Loan 3.647% (1 Month LIBOR USD + 3.50%), 02/12/2027 (a)
|
930,600
|
890,277
|
||||
Sally Holdings, LLC, Senior Secured First Lien Term Loan 2.40% (1 Month LIBOR USD + 2.25%), 07/05/2024 (a)
|
97,436
|
97,030
|
||||
5,167,469
|
||||||
TECHNOLOGY - SOFTWARE & SERVICES - 12.08%
|
||||||
Access CIG, LLC
|
||||||
Senior Secured First Lien Term Loan 3.975% (3 Month LIBOR USD + 3.75%), 02/27/2025 (a)
|
1,255,595
|
1,245,393
|
||||
Senior Secured Second Lien Term Loan 7.975% (3 Month LIBOR USD + 7.75%), 02/27/2026 (a)
|
315,000
|
312,244
|
||||
Barracuda Networks, Inc., Senior Secured First Lien Term Loan 4.50% (3 Month LIBOR USD + 3.75%, 0.750% Floor), 02/12/2025 (a)
|
2,029,861
|
2,029,353
|
||||
Boxer Parent Co., Inc., Senior Secured First Lien Term Loan 4.397% (1 Month LIBOR USD + 4.25%), 10/02/2025 (a)
|
906,824
|
904,906
|
||||
Cardtronics U.S.A., Inc., Senior Secured First Lien Term Loan 5.00% (1 Month LIBOR USD + 4.00%, 1.000% Floor), 06/29/2027 (a)
|
542,275
|
543,856
|
||||
Castle U.S. Holding Corp., Senior Secured First Lien Term Loan 4.004% (3 Month LIBOR USD + 3.75%), 01/29/2027 (a)
|
1,172,625
|
1,153,933
|
||||
CommerceHub, Inc., Senior Secured First Lien Term Loan 4.75% (1 Month LIBOR USD + 4.00%, 0.750% Floor), 12/29/2027 (a)
|
677,000
|
677,846
|
||||
Dawn Acquisition, LLC, Senior Secured First Lien Term Loan 4.004% (3 Month LIBOR USD + 3.75%), 12/31/2025 (a)
|
493,826
|
455,811
|
||||
DCert Buyer, Inc., Senior Secured First Lien Term Loan 4.147% (1 Month LIBOR USD + 4.00%), 10/16/2026 (a)
|
848,588
|
849,118
|
||||
Dynatrace, LLC, Senior Secured First Lien Term Loan 2.397% (1 Month LIBOR USD + 2.25%), 08/22/2025 (a)
|
549,461
|
545,598
|
||||
E2open LLC, Senior Secured First Lien Term Loan 4.00% (LIBOR USD + 0.00%), 10/29/2027 (a)(h)
|
640,000
|
639,603
|
||||
EagleView Technology Corp., Senior Secured First Lien Term Loan 3.733% (3 Month LIBOR USD + 3.50%), 08/14/2025 (a)
|
872,200
|
861,298
|
||||
EVO Payments International, LLC, Senior Secured First Lien Term Loan 3.40% (1 Month LIBOR USD + 3.25%), 12/22/2023 (a)
|
1,085,214
|
1,087,021
|
||||
GlobalLogic Holdings, Inc.
|
||||||
Senior Secured First Lien Term Loan 2.897% (1 Month LIBOR USD + 2.75%), 08/01/2025 (a)
|
494,990
|
490,659
|
||||
Senior Secured First Lien Term Loan 4.50% (1 Month LIBOR USD + 3.75%, 0.750% Floor), 09/14/2027 (a)
|
594,099
|
593,356
|
||||
Go Daddy Operating Co., LLC, Senior Secured First Lien Term Loan 2.647% (1 Month LIBOR USD + 2.50%), 08/10/2027 (a)
|
1,035,385
|
1,042,570
|
||||
Hyland Software, Inc., Senior Secured First Lien Term Loan 4.25% (1 Month LIBOR USD + 3.50%, 0.750% Floor), 07/01/2024 (a)
|
588,495
|
590,702
|
||||
Informatica, LLC
|
||||||
Senior Secured Second Lien Term Loan 7.125% , 02/25/2025
|
297,000
|
303,163
|
||||
Senior Secured First Lien Term Loan 3.397% (1 Month LIBOR USD + 3.25%), 02/25/2027 (a)
|
1,128,479
|
1,121,341
|
||||
Intrado Corp.
|
||||||
Senior Secured First Lien Term Loan 4.50% (3 Month LIBOR USD + 3.50%, 1.000% Floor), 10/10/2024 (a)
|
260,653
|
251,976
|
||||
Senior Secured First Lien Term Loan 5.00% (1 Month LIBOR USD + 4.00%, 1.000% Floor), 10/10/2024 (a)
|
163,535
|
158,958
|
||||
Senior Secured First Lien Term Loan 5.00% (3 Month LIBOR USD + 4.00%, 1.000% Floor), 10/10/2024 (a)
|
660,919
|
642,423
|
||||
MA FinanceCo., LLC, Senior Secured First Lien Term Loan 2.897% (1 Month LIBOR USD + 2.75%), 06/21/2024 (a)
|
109,139
|
108,047
|
||||
Moneygram International, Inc., Senior Secured First Lien Term Loan 7.00% (6 Month LIBOR USD + 6.00%, 1.000% Floor), 06/30/2023 (a)
|
895,996
|
899,692
|
||||
NAB Holdings, LLC, Senior Secured First Lien Term Loan 4.00% (3 Month LIBOR USD + 3.00%, 1.000% Floor), 07/01/2024 (a)
|
483,819
|
482,125
|
||||
Optiv Security, Inc., Senior Secured First Lien Term Loan 4.25% (1 Month LIBOR USD + 3.25%, 1.000% Floor), 02/01/2024 (a)
|
581,592
|
535,431
|
||||
Presidio Holdings, Inc., Senior Secured First Lien Term Loan 3.72% (3 Month LIBOR USD + 3.50%), 01/22/2027 (a)
|
737,295
|
737,642
|
||||
Project Alpha Intermediate Holding, Inc.
|
||||||
Senior Secured First Lien Term Loan 4.48% (2 Month LIBOR USD + 4.25%), 04/26/2024 (a)
|
531,900
|
530,570
|
||||
Senior Secured First Lien Term Loan 4.50% (6 Month LIBOR USD + 3.50%, 1.000% Floor), 04/26/2024 (a)
|
772,000
|
766,851
|
||||
ProQuest, LLC, Senior Secured First Lien Term Loan 3.647% (1 Month LIBOR USD + 3.50%), 10/23/2026 (a)
|
391,598
|
391,598
|
||||
Rackspace Hosting, Inc., Senior Secured First Lien Term Loan 4.00% (3 Month LIBOR USD + 3.00%, 1.000% Floor), 11/03/2023 (a)
|
671,497
|
671,581
|
||||
Rocket Software, Inc., Senior Secured First Lien Term Loan 4.397% (1 Month LIBOR USD + 4.25%), 11/28/2025 (a)
|
609,507
|
605,570
|
||||
RP Crown Parent, LLC, Senior Secured First Lien Term Loan 4.00% (1 Month LIBOR USD + 3.00%, 1.000% Floor), 02/02/2026 (a)
|
1,365,569
|
1,366,853
|
||||
SCS Holdings I, Inc., Senior Secured First Lien Term Loan 3.647% (1 Month LIBOR USD + 3.50%), 07/01/2026 (a)
|
638,388
|
637,191
|
||||
Seattle SpinCo, Inc., Senior Secured First Lien Term Loan 2.897% (1 Month LIBOR USD + 2.75%), 06/21/2024 (a)
|
737,041
|
729,670
|
||||
Severin Acquisition, LLC, Senior Secured First Lien Term Loan 3.404% (1 Month LIBOR USD + 3.25%), 08/01/2025 (a)
|
370,222
|
366,659
|
||||
SolarWinds Holdings, Inc., Senior Secured First Lien Term Loan 2.897% (1 Month LIBOR USD + 2.75%), 02/05/2024 (a)
|
1,575,873
|
1,510,372
|
||||
Solera, LLC, Senior Secured First Lien Term Loan 2.897% (2 Month LIBOR USD + 2.75%), 03/03/2023 (a)
|
755,169
|
750,665
|
||||
TIBCO Software, Inc.
|
||||||
Senior Secured First Lien Term Loan 3.90% (1 Month LIBOR USD + 3.75%), 06/30/2026 (a)
|
1,842,059
|
1,812,697
|
||||
Senior Secured Second Lien Term Loan 7.40% (1 Month LIBOR USD + 7.25%), 03/03/2028 (a)
|
263,000
|
266,506
|
||||
TierPoint, LLC, Senior Secured First Lien Term Loan 4.75% (1 Month LIBOR USD + 3.75%, 1.000% Floor), 05/06/2024 (a)
|
442,871
|
441,994
|
||||
Ultimate Software Group
|
||||||
Senior Secured First Lien Term Loan 3.897% (1 Month LIBOR USD + 3.75%), 05/04/2026 (a)
|
739,638
|
740,292
|
||||
Senior Secured First Lien Term Loan 4.75% (3 Month LIBOR USD + 4.00%, 0.750% Floor), 05/04/2026 (a)
|
225,435
|
226,959
|
||||
VM Consolidated, Inc., Senior Secured First Lien Term Loan 3.397% (1 Month LIBOR USD + 3.25%), 02/28/2025 (a)
|
1,552,252
|
1,541,261
|
||||
VS Buyer, LLC, Senior Secured First Lien Term Loan 3.397% (1 Month LIBOR USD + 3.25%), 02/26/2027 (a)
|
934,935
|
933,182
|
||||
33,554,536
|
||||||
TECHNOLOGY HARDWARE - 1.37%
|
||||||
Avaya, Inc., Senior Secured First Lien Term Loan 4.409% (1 Month LIBOR USD + 4.25%), 12/16/2024 (a)
|
904,453
|
910,987
|
||||
Celestica, Inc., Senior Secured First Lien Term Loan 2.273% (1 Month LIBOR USD + 2.125%), 06/27/2025 (a)
|
527,455
|
517,566
|
||||
CommScope, Inc., Senior Secured First Lien Term Loan 3.397% (1 Month LIBOR USD + 3.25%), 04/06/2026 (a)
|
636,938
|
634,084
|
||||
MLN U.S. HoldCo, LLC, Senior Secured First Lien Term Loan 4.652% (1 Month LIBOR USD + 4.50%), 11/28/2025 (a)
|
975,100
|
888,789
|
||||
MTS Systems Corp., Senior Secured First Lien Term Loan 4.00% (1 Month LIBOR USD + 3.25%, 0.750% Floor), 07/05/2023 (a)
|
334,064
|
334,690
|
||||
Plantronics, Inc., Senior Secured First Lien Term Loan 2.646% (1 Month LIBOR USD + 2.50%), 07/02/2025 (a)
|
517,134
|
507,154
|
||||
3,793,270
|
||||||
TELECOMMUNICATION SERVICES - DIVERSIFIED - 4.34%
|
||||||
Altice Financing S.A., Senior Secured First Lien Term Loan 2.909% (1 Month LIBOR USD + 2.75%), 07/15/2025 (a)
|
538,061
|
528,115
|
||||
Cablevision Lightpath, LLC, Senior Secured First Lien Term Loan 3.75% (1 Month LIBOR USD + 3.25%, 0.500% Floor), 11/30/2027 (a)
|
920,000
|
919,572
|
||||
CenturyLink, Inc., Senior Secured First Lien Term Loan 2.397% (1 Month LIBOR USD + 2.25%), 03/15/2027 (a)
|
2,514,218
|
2,491,590
|
||||
Consolidated Communications, Inc., Senior Secured First Lien Term Loan 5.75% (1 Month LIBOR USD + 4.75%, 1.000% Floor), 10/04/2027 (a)
|
638,400
|
642,499
|
||||
Flexential Intermediate Corp., Senior Secured First Lien Term Loan 3.754% (3 Month LIBOR USD + 3.50%), 08/01/2024 (a)
|
760,437
|
683,705
|
||||
Hargray Communications Group, Inc., Senior Secured First Lien Term Loan 4.00% (1 Month LIBOR USD + 3.00%, 1.000% Floor), 05/16/2024 (a)
|
1,030,842
|
1,033,203
|
||||
LCPR Loan Financing, LLC, Senior Secured First Lien Term Loan 5.159% (1 Month LIBOR USD + 5.00%), 10/15/2026 (a)
|
535,000
|
538,009
|
||||
Masergy Holdings, Inc., Senior Secured First Lien Term Loan 4.25% (3 Month LIBOR USD + 3.25%, 1.000% Floor), 12/15/2023 (a)
|
479,908
|
476,909
|
||||
MTN Infrastructure TopCo, Inc., Senior Secured First Lien Term Loan 4.00% (1 Month LIBOR USD + 3.00%, 1.000% Floor), 11/15/2024 (a)
|
437,625
|
437,461
|
||||
Northwest Fiber, LLC, Senior Secured First Lien Term Loan 5.653% (1 Month LIBOR USD + 5.50%), 04/30/2027 (a)
|
623,865
|
626,984
|
||||
Numericable U.S., LLC, Senior Secured First Lien Term Loan 4.237% (3 Month LIBOR USD + 4.00%), 08/14/2026 (a)
|
563,796
|
562,798
|
||||
Zayo Group Holdings, Inc., Senior Secured First Lien Term Loan 3.147% (1 Month LIBOR USD + 3.00%), 03/09/2027 (a)
|
2,280,357
|
2,271,600
|
||||
Ziggo Financing Partnership, Senior Secured First Lien Term Loan 2.659% (1 Month LIBOR USD + 2.50%), 04/28/2028 (a)
|
845,000
|
841,303
|
||||
12,053,748
|
||||||
TELECOMMUNICATION SERVICES - WIRELESS - 0.20%
|
||||||
CCI Buyer, Inc., Senior Secured First Lien Term Loan 4.75% (3 Month LIBOR USD + 4.00%, 0.750% Floor), 12/17/2027 (a)
|
545,000
|
545,452
|
||||
TRANSPORTATION - 0.27%
|
||||||
PODS, LLC, Senior Secured First Lien Term Loan 3.75% (1 Month LIBOR USD + 2.75%, 1.000% Floor), 12/06/2024 (a)
|
747,692
|
750,728
|
||||
UTILITIES - POWER - 0.77%
|
||||||
Calpine Construction Finance Co., L.P., Senior Secured First Lien Term Loan 2.147% (1 Month LIBOR USD + 2.00%), 01/15/2025 (a)
|
850,774
|
842,088
|
||||
Calpine Corp., Senior Secured First Lien Term Loan 2.65% (1 Month LIBOR USD + 2.50%), 12/16/2027 (a)
|
380,000
|
378,005
|
||||
Eastern Power, LLC, Senior Secured First Lien Term Loan 4.75% (3 Month LIBOR USD + 3.75%, 1.000% Floor), 10/02/2025 (a)
|
208,000
|
196,575
|
||||
Frontera Generation Holdings, LLC, Senior Secured First Lien Term Loan 5.25% (3 Month LIBOR USD + 4.25%, 1.000% Floor), 05/02/2025 (a)
|
615,825
|
163,194
|
||||
Lightstone Holdco, LLC
|
||||||
Senior Secured First Lien Term Loan 4.75% (3 Month LIBOR USD + 3.75%, 1.000% Floor), 01/30/2024 (a)
|
558,304
|
520,348
|
||||
Senior Secured First Lien Term Loan 4.75% (3 Month LIBOR USD + 3.75%, 1.000% Floor), 01/30/2024 (a)
|
31,489
|
29,348
|
||||
2,129,558
|
||||||
TOTAL BANK LOANS (Cost $226,192,028)
|
223,991,971
|
|||||
CORPORATE BONDS - 12.76% (f)
|
||||||
AEROSPACE & DEFENSE - 0.24%
|
||||||
Moog, Inc. 4.25%, 12/15/2027 (g)
|
640,000
|
664,800
|
||||
AUTOMOTIVE - 0.43%
|
||||||
Ford Motor Co.
|
||||||
8.50%, 04/21/2023
|
515,000
|
580,459
|
||||
9.00%, 04/22/2025
|
505,000
|
619,784
|
||||
1,200,243
|
||||||
COMMERCIAL SERVICES - 0.68%
|
||||||
Garda World Security Corp. 4.625%, 02/15/2027 (c)(g)
|
1,200,000
|
1,214,999
|
||||
Tempo Acquisition, LLC / Tempo Acquisition Finance Corp. 5.75%, 06/01/2025 (g)
|
625,000
|
666,406
|
||||
1,881,405
|
||||||
CONSTRUCTION & ENGINEERING - 0.24%
|
||||||
Pike Corp. 5.50%, 09/01/2028 (g)
|
638,000
|
675,483
|
||||
ENVIRONMENTAL SERVICES - 0.49%
|
||||||
GFL Environmental, Inc. 4.00%, 08/01/2028 (c)(g)
|
1,041,000
|
1,050,759
|
||||
Stericycle, Inc. 5.375%, 07/15/2024 (g)
|
295,000
|
308,187
|
||||
1,358,946
|
||||||
FINANCIALS - THRIFTS & MORTGAGES - 0.56%
|
||||||
Quicken Loans, LLC / Quicken Loans Co-Issuer, Inc.
|
||||||
3.625%, 03/01/2029 (g)
|
280,000
|
286,125
|
||||
3.875%, 03/01/2031 (g)
|
400,000
|
416,000
|
||||
United Shore Financial Services, LLC 5.50%, 11/15/2025 (g)
|
805,000
|
850,282
|
||||
1,552,407
|
||||||
HEALTHCARE - EQUIPMENT & SUPPLIES - 0.48%
|
||||||
Change Healthcare Holdings, LLC / Change Healthcare Finance, Inc. 5.75%, 03/01/2025 (g)
|
1,315,000
|
1,342,944
|
||||
HEALTHCARE - FACILITIES - 0.64%
|
||||||
Legacy LifePoint Health, LLC 4.375%, 02/15/2027 (g)
|
370,000
|
371,388
|
||||
Tenet Healthcare Corp.
|
||||||
7.50%, 04/01/2025 (g)
|
189,000
|
206,750
|
||||
5.125%, 05/01/2025
|
555,000
|
566,511
|
||||
4.625%, 06/15/2028 (g)
|
600,000
|
629,624
|
||||
1,774,273
|
||||||
HEALTHCARE - LIFE SCIENCES - 0.49%
|
||||||
Avantor Funding, Inc. 4.625%, 07/15/2028 (g)
|
740,000
|
783,475
|
||||
Syneos Health, Inc. 3.625%, 01/15/2029 (g)
|
579,000
|
581,687
|
||||
1,365,162
|
||||||
HEALTHCARE - PHARMACEUTICALS & BIOTECHNOLOGY - 0.47%
|
||||||
Bausch Health Cos., Inc.
|
||||||
6.125%, 04/15/2025 (c)(g)
|
500,000
|
515,830
|
||||
5.50%, 11/01/2025 (c)(g)
|
775,000
|
803,900
|
||||
1,319,730
|
||||||
HEALTHCARE - REITS - 0.74%
|
||||||
Diversified Healthcare Trust 9.75%, 06/15/2025
|
800,000
|
910,000
|
||||
MPT Operating Partnership, L.P. / MPT Finance Corp. 3.50%, 03/15/2031
|
1,105,000
|
1,142,984
|
||||
2,052,984
|
||||||
INDUSTRIAL MACHINERY - 0.39%
|
||||||
WESCO Distribution, Inc.
|
||||||
7.125%, 06/15/2025 (g)
|
490,000
|
539,566
|
||||
7.25%, 06/15/2028 (g)
|
490,000
|
557,960
|
||||
1,097,526
|
||||||
LEISURE - CASINOS & GAMING - 1.14%
|
||||||
Boyd Gaming Corp. 8.625%, 06/01/2025 (g)
|
245,000
|
272,793
|
||||
Caesars Entertainment, Inc. 6.25%, 07/01/2025 (g)
|
885,000
|
943,636
|
||||
VICI Properties, L.P. / VICI Note Co., Inc.
|
||||||
3.50%, 02/15/2025 (g)
|
1,145,000
|
1,173,224
|
||||
3.75%, 02/15/2027 (g)
|
750,000
|
768,165
|
||||
3,157,818
|
||||||
LEISURE - HOTELS - 0.39%
|
||||||
Hilton Domestic Operating Co., Inc. 5.375%, 05/01/2025 (g)
|
155,000
|
164,843
|
||||
Hyatt Hotels Corp. 5.375%, 04/23/2025
|
285,000
|
322,452
|
||||
Wyndham Destinations, Inc. 4.625%, 03/01/2030 (g)
|
560,000
|
593,163
|
||||
1,080,458
|
||||||
MEDIA - BROADCASTING - 0.16%
|
||||||
Cumulus Media New Holdings, Inc. 6.75%, 07/01/2026 (g)
|
439,000
|
449,630
|
||||
MEDIA - CABLE & SATELLITE - 2.30%
|
||||||
Block Communications, Inc. 4.875%, 03/01/2028 (g)
|
960,000
|
991,051
|
||||
DISH DBS Corp.
|
||||||
6.75%, 06/01/2021
|
1,215,000
|
1,240,770
|
||||
5.875%, 07/15/2022
|
1,450,000
|
1,516,699
|
||||
Hughes Satellite Systems Corp.
|
||||||
7.625%, 06/15/2021
|
575,000
|
590,094
|
||||
5.25%, 08/01/2026
|
1,150,000
|
1,273,407
|
||||
6.625%, 08/01/2026
|
675,000
|
766,145
|
||||
6,378,166
|
||||||
MEDIA - DIVERSIFIED - 0.32%
|
||||||
Match Group Holdings II, LLC 4.625%, 06/01/2028 (g)
|
840,000
|
882,000
|
||||
METALS & MINING - 0.13%
|
||||||
GrafTech Finance, Inc. 4.625%, 12/15/2028 (g)
|
359,000
|
363,488
|
||||
REITS - 0.31%
|
||||||
Global Net Lease, Inc. / Global Net Lease Operating Partnership, L.P. 3.75%, 12/15/2027 (g)
|
837,000
|
864,209
|
||||
RETAIL - FOOD & DRUG - 0.18%
|
||||||
U.S. Foods, Inc. 6.25%, 04/15/2025 (g)
|
465,000
|
497,590
|
||||
RETAILING - 0.42%
|
||||||
QVC, Inc.
|
||||||
4.85%, 04/01/2024
|
730,000
|
789,313
|
||||
4.75%, 02/15/2027
|
350,000
|
376,031
|
||||
1,165,344
|
||||||
TECHNOLOGY - SOFTWARE & SERVICES - 0.38%
|
||||||
Boxer Parent Co., Inc. 7.125%, 10/02/2025 (g)
|
385,000
|
418,452
|
||||
Presidio Holdings, Inc. 4.875%, 02/01/2027 (g)
|
600,000
|
637,499
|
||||
1,055,951
|
||||||
TECHNOLOGY HARDWARE - 0.31%
|
||||||
Dell International, LLC / EMC Corp. 5.85%, 07/15/2025 (g)
|
220,000
|
264,391
|
||||
Diebold Nixdorf, Inc. 9.375%, 07/15/2025 (g)
|
530,000
|
594,594
|
||||
858,985
|
||||||
TELECOMMUNICATION SERVICES - DIVERSIFIED - 0.87%
|
||||||
CenturyLink, Inc. 6.75%, 12/01/2023
|
1,225,000
|
1,366,641
|
||||
Frontier Communications Corp. 5.00%, 05/01/2028 (g)
|
1,000,000
|
1,044,375
|
||||
2,411,016
|
||||||
TOTAL CORPORATE BONDS (Cost $33,738,429)
|
35,450,558
|
|||||
Shares
|
||||||
EQUITIES - 0.31%
|
||||||
MEDIA - BROADCASTING - 0.03%
|
||||||
Cumulus Media, Inc. (b)
|
8,437
|
73,570
|
||||
MEDIA - DIVERSIFIED - 0.00%
|
||||||
Pacifico, Inc. (b)(e)
|
2,592
|
2,581
|
||||
MEDIA - ENTERTAINMENT - 0.18%
|
||||||
Cirque Du Soleil (b)(e)
|
130,255
|
504,738
|
||||
OIL & GAS - E&P - 0.10%
|
||||||
California Resources Corp. (b)
|
11,408
|
269,115
|
||||
TOTAL EQUITIES (Cost $741,345)
|
850,004
|
|||||
WARRANT- 0.01%
|
||||||
MEDIA - ENTERTAINMENT - 0.01%
|
||||||
Crown Finance U.S., Inc. (b)
|
98,930
|
31,658
|
||||
TOTAL WARRANT (Cost $30,928)
|
31,658
|
|||||
MONEY MARKET FUND - 9.43%
|
||||||
First American Government Obligations Fund - Class X, 0.04% (d)
|
26,189,268
|
26,189,268
|
||||
TOTAL MONEY MARKET FUND (Cost $26,189,268)
|
26,189,268
|
|||||
Total Investments (Cost $286,891,998) - 103.17%
|
286,513,459
|
|||||
Liabilities in Excess of Other Assets - (3.17%)
|
(8,809,231)
|
|||||
TOTAL NET ASSETS - 100.00%
|
$ |
277,704,228
|
||||
Percentages are stated as a percent of net assets.
|
||||||
LIBOR
|
London Interbank Offered Rate
|
|||||
PLC
|
Public Limited Company
|
|||||
REIT
|
Real Estate Investment Trust
|
|||||
(a)
|
Variable rate securities. The coupon rate shown is the effective interest rate as of December 31, 2020.
|
|||||
(b)
|
Non-income producing security.
|
|||||
(c)
|
U.S. traded security of a foreign issuer.
|
|||||
(d)
|
Rate shown is the 7-day annualized yield as of December 31, 2020.
|
|||||
(e)
|
Value determined using significant unobservable inputs.
|
|||||
(f)
|
All or a portion is posted as collateral for delayed settlement securities.
|
|||||
(g)
|
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, 2020, the value of these investments was
|
||||||
$23,389,268 or 8.42% of total net assets.
|
||||||
(h)
|
Variable rate security. Final terms of the bank loan are not yet known, so reference index and/or spread
|
|||||
information may not be presented.
|
||||||
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, 2020 (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, 2020:
|
Shenkman Capital Floating Rate High Income Fund
|
||||||||||||||||
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||||||
Fixed Income
|
||||||||||||||||
Bank Loans
|
$
|
-
|
$
|
223,991,971
|
$
|
-
|
$
|
223,991,971
|
||||||||
Corporate Bonds
|
-
|
35,450,558
|
-
|
35,450,558
|
||||||||||||
Total Fixed Income
|
-
|
259,442,529
|
-
|
259,442,529
|
||||||||||||
Equities
|
||||||||||||||||
Information
|
73,570
|
-
|
507,319
|
580,889
|
||||||||||||
Mining, Quarrying, and Oil and Gas Extraction
|
269,115
|
-
|
-
|
269,115
|
||||||||||||
Total Equities
|
342,685
|
-
|
507,319
|
850,004
|
||||||||||||
Warrant
|
31,658
|
-
|
-
|
31,658
|
||||||||||||
Money Market Fund
|
26,189,268
|
-
|
-
|
26,189,268
|
||||||||||||
Total Investments
|
$
|
26,563,611
|
$
|
259,442,529
|
$
|
507,319
|
$
|
286,513,459
|
||||||||
Refer to the Fund's schedule of investments for a detailed break-out of holdings by industry classification.
|
Shenkman Capital Floating Rate High Income Fund
|
||||||||
Level 3 Reconciliation Disclosure
|
||||||||
Equities
|
Total
|
|||||||
Balance as of September 30, 2020
|
$
|
2,560
|
$
|
2,560
|
||||
Purchases
|
312,053
|
312,053
|
||||||
Change in unrealized appreciation
|
192,706
|
192,706
|
||||||
Balance as of December 31, 2020
|
$
|
507,319
|
$
|
507,319
|
||||
Change in unrealized appreciation during the period for
|
||||||||
Level 3 investments held at December 31, 2020
|
$ | 192,706 | ||||||
The Level 3 investments as of December 31, 2020 represented 0.18% of net assets and did not warrant a disclosure of significant unobservable valuation inputs.
|