SICAV
Global High Yield Bond Fund
Seeks to capture enhanced returns from a diversified global portfolio of income bearing, high yield securities.
ISIN LU0860350221
Bloomberg TRPGHBQ:LX
3YR Return Annualised
(View Total Returns)
Total Assets
(USD)
5.90%
$1.4b
Data as of 31-Mar-2021
Data as of 31-Mar-2021
1YR Return
(View Total Returns)
Manager Tenure
22.22%
5yrs
Data as of 31-Mar-2021
Data as of 16-Apr-2021
Information Ratio
(5 Years)
Tracking Error
(5 Years)
-0.81
1.52%
Data as of 31-Mar-2021
Data as of 31-Mar-2021
Inception Date 14-Jan-2013
Performance figures calculated in USD
Other Literature
- This product's strategy also available as
- a Strategy
Strategy
Investment Objective
To maximise the value of its shares through both growth in the value of, and income from, its investments. The fund invests mainly in a diversified portfolio of high yield corporate bonds from issuers around the world, including emerging markets.Investment Approach
- Focus on BB/B securities, with a measured allocation to lower-quality bonds when valuations are compelling.
- Proprietary fundamental research is key — emphasis on industries that enjoy stable cash flow and rational competitive environments.
- Extensive analyst interaction across sectors and asset classes promotes broad credit perspective.
- Disciplined risk management practices employed in conjunction with broad portfolio diversification to manage risk profile.
Portfolio Construction
- Diversified portfolio structure of high yield corporate bonds: 250-350 issuers
- Industry exposure typically will range +/- 3% around benchmark weight
- Conservative exposure guidelines to individual issuers:
- BB issuer: 3% maximum
- B issuer: 2% maximum
- CCC issuer: 1% maximum
Performance (Class Q)
Annualised Performance
| 1 YR | 3 YR Annualised |
5 YR Annualised |
Since Inception Annualised |
Since Manager Inception Annualised |
|
|---|---|---|---|---|---|
| Fund % | 22.22% | 5.90% | 6.93% | 5.12% | 4.18% |
| Indicative Benchmark % | 25.46% | 6.33% | 8.16% | 5.71% | 5.35% |
| Excess Return % | -3.24% | -0.43% | -1.23% | -0.59% | -1.17% |
| 1 YR | 3 YR Annualised |
5 YR Annualised |
Since Inception Annualised |
|
|---|---|---|---|---|
| Fund % | 22.22% | 5.90% | 6.93% | 5.12% |
| Indicative Benchmark % | 25.46% | 6.33% | 8.16% | 5.71% |
| Excess Return % | -3.24% | -0.43% | -1.23% | -0.59% |
Recent Performance
| Month to DateData as of 21-Apr-2021 | Quarter to DateData as of 21-Apr-2021 | Year to DateData as of 21-Apr-2021 | 1 MonthData as of 31-Mar-2021 | 3 MonthsData as of 31-Mar-2021 | |
|---|---|---|---|---|---|
| Fund % | 0.86% | 0.86% | 1.60% | 0.40% | 0.74% |
| Indicative Benchmark % | 0.75% | 0.75% | 1.99% | 0.22% | 1.23% |
| Excess Return % | 0.11% | 0.11% | -0.39% | 0.18% | -0.49% |
Past performance is not a reliable indicator of future performance. Source for fund performance: T. Rowe Price. Fund performance is calculated using the official NAV with dividends reinvested, if any. The value of an investment and any income from it can go down as well as up. Investors may get back less than the amount invested. It will be affected by changes in the exchange rate between the base currency of the fund and the subscription currency, if different. Sales charges (up to a maximum of 5% for the A Class), taxes and other locally applied costs have not been deducted and if applicable, they will reduce the performance figures.
Where the base currency of the fund differs from the share class currency, exchange rate movements may affect returns.
31-Mar-2021
-
Michael Della Vedova,
Portfolio Manager,
High yield bonds posted modestly positive returns in March. Encouraging economic signals and the approval of a new round of fiscal stimulus seemed to partly offset investors’ concerns about a sharp increase in longer-term Treasury yields and the potential for higher inflation. Rising long-term rates and the increased selling of lower-coupon, duration-sensitive bonds caused the CCC rating tier to significantly outperform higher qualities. High yield industries produced mixed results, and cyclical industries more closely tied to the overall economic recovery were among the top performers. Within the portfolio, credit selection in the utilities and financials segments aided relative performance. However, credit selection in the CCC rating tier held back gains as the portfolio did not hold many of the more speculative names that rallied. Security selection and our underweight allocation in the services segment dragged.
Holdings
Holdings
Total
Holdings
514
Largest Holding
iHeartCommunications
1.09%
Was
(31-Dec-2020) 1.04%
Top 10 Holdings 8.00%
Quality Rating View quality analysis
| Largest Overweight | Largest Underweight | |
|---|---|---|
| Quality Rating | BB/B Rated | BB Rated |
| By % | 6.26% | -9.69% |
| Fund | 20.12% | 26.77% |
| Indicative Benchmark | 13.85% | 36.46% |
Average Credit Quality
B+Maturity View maturity analysis
| Largest Overweight | Largest Underweight | |
|---|---|---|
| Maturity | 5-7 Years | 1-3 Years |
| By % | 7.75% | -4.78% |
| Fund | 35.74% | 6.50% |
| Indicative Benchmark | 27.99% | 11.28% |
Weighted Average Maturity
6.16 YearsDuration View duration analysis
| Largest Overweight | Largest Underweight | |
|---|---|---|
| Duration | Under 1 Year | 3-5 Years |
| By % | 6.99% | -4.72% |
| Fund | 22.81% | 25.80% |
| Indicative Benchmark | 15.82% | 30.52% |
Weighted Average Duration
3.04 Years
31-Dec-2020
-
Michael Della Vedova,
Portfolio Manager,
We continued to cautiously shift toward more cyclical industries during the period as we became more constructive on the effectiveness of vaccines and broad public inoculation in the medium term. Consistent with our management style, we outperformed amid significant volatility in the first quarter, but have gradually given back some of that excess return during the second half of 2020 when risk has been indiscriminately rewarded, as evidenced by the CCC rating tier's strong outperformance during the third and fourth quarters.
Cautiously Adjusted Industry Allocations
Overall, we maintained our disciplined, risk-aware positioning. For example, the portfolio remained overweight in the cable operators and utilities industries. However, we trimmed these overweight positions during the quarter to fund purchases that have reduced the portfolio's underweight allocations to cyclical segments such as airlines, entertainment and leisure, gaming, and restaurants, where companies can benefit from a more permanent reopening of the economy and broad public inoculation.
Defensively Positioned in Energy
We upheld our high-quality bias within energy. Specifically, we broadly avoided distressed names in favor of issuers with larger asset bases and more durable business models. We maintained an overweight allocation to large, diversified, and well-capitalized midstream companies that tend to have contractual-based revenue models and to high-quality exploration and production (E&P) names. Our investments in fallen angels such as Occidental Petroleum, whose size and scale is unmatched in a high yield market that has become unwilling to finance weaker cash burning E&Ps, have broadly benefited relative performance.
Industry
Total
Industries
32
Largest Industry Energy 12.40%
Was (28-Feb-2021)
12.36%
Other
View complete Industry Diversification
Largest Overweight
Cable Operators
By6.17%
Fund
10.36%
Indicative Benchmark
4.19%
Largest Underweight
Services
By-2.23%
Fund
5.42%
Indicative Benchmark
7.65%
31-Mar-2021
-
Michael Della Vedova,
Portfolio Manager,
We are overweight cable operators, relative to the market index, because these issuers generally exhibit durable fundamentals due to subscription-based, recurring-revenue business models. We are also overweight utilities, a more defensive industry given relatively tight valuations across most segments of the high yield market. Conversely, we are overweight select segments such as airlines, gaming, and entertainment and leisure that we think could continue to benefit from further easing of pandemic-related restrictions and broad public inoculation.
Countries
Total
Countries
17
Largest Country United States 85.40%
Was (28-Feb-2021)
83.80%
Other
View complete Country Diversification
Largest Overweight
United States
By12.07%
Fund
85.40%
Indicative Benchmark
73.32%
Largest Underweight
Brazil
By-3.43%
Fund
0.96%
Indicative Benchmark
4.39%
Currency
Total
Currencies
10
Largest Currency
99.92%
Was (28-Feb-2021)
99.94%
Other
View completeCurrency Diversification
Largest Overweight
euro
By
0.06%
Fund
0.06%
Indicative Benchmark
0.00%
Largest Underweight
U.S. dollar
By
-0.08%
Fund
99.92%
Indicative Benchmark
100.00%
Team (As of 16-Apr-2021)
Mike Della Vedova is a global high yield portfolio manager in the Fixed Income Division. He is a portfolio manager for the Europe High Yield Bond Strategy and co-portfolio manager for the Global High Yield Bond Fund and Global High Income Bond Strategy. He is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd.
Mike’s investment experience began in 1994, and he has been with T. Rowe Price since 2009, beginning in the Fixed Income department. Prior to this, Mike was cofounder and partner of Four Quarter Capital, a credit hedge fund focusing on below investment-grade European corporate debt. Mike also was employed by Muzinich & Company as a senior analyst and assistant portfolio manager in London.
Mike earned an LL.B. and a B.Com. in finance from the University of New South Wales and a Graduate Diploma in Legal Practice (GDLP) from the University of Technology, Sydney. He also was admitted as a solicitor to the Supreme Court of New South Wales.
- Fund manager2015
since - Years at11
T. Rowe Price - Years investment27
experience
Rodney Rayburn is a portfolio manager in the Fixed Income Division, managing the Credit Opportunities and High Yield Bond Strategies. He is president of the Credit Opportunities Fund, Inc. He also is executive vice president of the High Yield Fund, Inc., and Institutional Income Funds, Inc., and chairman of their respective Investment Advisory Committees. He is a member of the Investment Advisory Committee for the Balance Fund. Rodney is a vice president of T. Rowe Price Associates, Inc., T. Rowe Price Group, Inc., and T. Rowe Price Trust Company.
Rodney’s investment experience began in 1999, and he has been with T. Rowe Price since 2014, beginning in the Fixed Income Division as a high yield analyst focused on distressed and special situations. In 2015, he was promoted to portfolio manager on the High Yield team. Prior to T. Rowe Price, Rodney was employed by Värde Partners as a managing director, and he was actively involved in performing and nonperforming loans, bonds, and reorganized equities across a variety of industries. He also was a senior investment analyst at Stark Investments.
Rodney earned a B.S. in economics from the Georgia Institute of Technology and an M.B.A. in finance and economics from The University of Chicago, Booth School of Business. Rodney also has earned the Chartered Financial Analyst® designation.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
- Fund manager2020
since - Years at6
T. Rowe Price - Years investment21
experience
Fee Schedule
| Share Class | Minimum Initial Investment and Holding Amount (USD) | Minimum Subsequent Investment (USD) | Minimum Redemption Amount (USD) | Sales Charge (up to) | Investment Management Fee (up to) | Ongoing Charges |
|---|---|---|---|---|---|---|
| Class A | $1,000 | $100 | $100 | 5.00% | 115 basis points | 1.24% |
| Class I | $2,500,000 | $100,000 | $0 | 0.00% | 60 basis points | 0.64% |
| Class Jd | $10,000,000 | $0 | $0 | 0.00% | 0 basis points | 0.02% |
| Class Q | $1,000 | $100 | $100 | 0.00% | 60 basis points | 0.68% |
| Class Sd | $10,000,000 | $0 | $0 | 0.00% | 0 basis points | 0.10% |
Please note that the Ongoing Charges figure is inclusive of the Investment Management Fee and is charged per annum.
Portfolio Characteristics
as of 31-Mar-2021
| Characteristic | Fund | Benchmark |
|---|---|---|
| Weighted Average Coupon | 6.51% | 6.18% |
| Weighted Average Maturity | 6.16 Years | 5.99 Years |
| Weighted Average Duration | 3.04 Years | 3.48 Years |
| Number of Holdings | 526 | 1,773 |
Risks
The following risks are materially relevant to the fund (refer to prospectus for further details):
- Capital risk
- Counterparty risk
- Country risk (Russia and Ukraine)
- Credit risk
- Default risk
- Derivatives risk
- Emerging markets risk
- ESG and Sustainability risk
- Geographic concentration risk
- Hedging risk
- Interest rate risk
- Investment fund risk
- Liquidity risk
- Management risk
- Market risk
- Operational risk
- Sector concentration risk
Risk/Return Characteristics
as of 31-Mar-2021| Risk/Return (5 Years) | Fund | Indicative Benchmark |
|---|---|---|
| Alpha | -0.77% | 0.00% |
| Beta | 0.94 | 1.00 |
| R-Squared | 0.97 | 1.00 |
| Annualized Std. Deviation | 7.81% | 8.14% |
| Information Ratio | -0.81 | 0.00 |
| Sharpe Ratio | 0.73 | 0.85 |
| Tracking Error | 1.52% | 0.00% |
Past performance is not a reliable indicator of future performance.
Statistics based on monthly net returns of the Fund's Class I shares.
Calendar Year Performance
| 2013^ | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | ||
|---|---|---|---|---|---|---|---|---|---|
| 6.60% | 1.59% | -3.23% | 14.69% | 7.40% | -4.03% | 15.58% | 4.47% | Fund | |
| 6.00% | 1.67% | -4.25% | 18.27% | 8.28% | -2.37% | 14.59% | 5.42% | Indicative Benchmark | |
| 0.60% | -0.08% | 1.02% | -3.58% | -0.88% | -1.66% | 0.99% | -0.95% | Value added |
- Fund
- Indicative Benchmark
Monthly Performance (Class Q)
- Fund
- Indicative Benchmark
- Exceptional Commentary
- Monthly Commentary
Click chart to display commentary.
Quality (31-Mar-2021)
| Quality Rating | % of Fund | % of Indicative Benchmark | % Underweight/Overweight |
|---|---|---|---|
| BBB/BB Rated & Above | 3.25% | 3.44% | |
| BB Rated | 26.77% | 36.46% | |
| BB/B Rated | 20.12% | 13.85% | |
| B Rated | 25.89% | 27.26% | |
| B/CCC Rated | 7.70% | 5.89% | |
| CCC and Below | 13.33% | 10.96% | |
| Not Rated | 1.02% | 0.82% | |
| Equities | 2.70% | 0.00% | |
| Short Term | -0.78% | 0.00% | |
| Credit Default Swaps | 0.01% | 0.00% | |
| Default | 0.00% | 1.31% |
Numbers may not add due to rounding and/or the exclusion of reserves and other assets.
Sources for Credit Quality Diversification: Moody's Investors Service and Standard & Poor's (S&P) split ratings (i.e. BB/B and B/CCC) are assigned when the Moody's and S&P ratings differ. Short-Term holdings are not rated.
Maturity (31-Mar-2021)
| Bond Maturity | % of Fund | % of Indicative Benchmark | % Underweight/Overweight |
|---|---|---|---|
| 0-1 Years | 0.02% | 0.10% | |
| 1-3 Years | 6.50% | 11.28% | |
| 3-5 Years | 27.62% | 31.94% | |
| 5-7 Years | 35.74% | 27.99% | |
| 7-10 Years | 26.80% | 24.03% | |
| 10+ Years | 4.13% | 4.67% | |
| Cash Equivalents | -0.82% | 0.00% |
Numbers may not add due to rounding and/or the exclusion of reserves and other assets.
Duration (31-Mar-2021)
| Duration | % of Fund | % of Indicative Benchmark | % Underweight/Overweight |
|---|---|---|---|
| Under 1 Year | 22.81% | 15.82% | |
| 1-3 Years | 29.98% | 32.29% | |
| 3-5 Years | 25.80% | 30.52% | |
| 5-7 Years | 13.73% | 12.73% | |
| 7-10 Years | 3.65% | 6.52% | |
| Over 10 Years | 2.10% | 1.73% | |
| Cash Holdings | -0.78% | 0.00% | |
| Default | 0.01% | 0.41% | |
| Equity | 2.70% | 0.00% | |
| Swaps | 0.01% | 0.00% |
Duration is a measure of a bond's sensitivity to interest rate changes.
Numbers may not add due to rounding and/or the exclusion of reserves and other assets.
Holdings (31-Mar-2021)
| Company | % of Fund | Previous Qtr Change | Value (USD) | Shares/Par | Sector | Industry | Country | Coupon Rate (%) | Quality | Maturity Date | Duration (Yrs) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| iHeartCommunications | 1.09% | 0.05 | $15,090,069.96 | 13,626,627 | Corporate Securities | Broadcasting | United States | 8.38% | Caa1 | 01-May-2027 | 0.99 |
| Clarios Global Lp / Clarios Us Finance | 0.95% | 0.03 | $13,094,042.25 | 11,810,000 | Corporate Securities | Automotive | United States | 8.50% | Caa1 | 15-May-2027 | 1.03 |
| Netflix | 0.92% | 0.04 | $12,687,633.00 | 9,990,000 | Corporate Securities | Cable Operators | United States | 6.38% | Ba3 | 15-May-2029 | 6.44 |
| Intelsat Jackson Holdings | 0.88% | 0.08 | $12,200,106.48 | 10,265,000 | Corporate Securities | Satellites | United States | 9.50% | NR | 30-Sep-2022 | 1.42 |
| Sprint | 0.80% | 0.02 | $11,007,134.23 | 9,399,860 | Corporate Securities | Wireless Communications | United States | 7.13% | B1 | 15-Jun-2024 | 2.85 |
| CCO Holdings LLC / CCO Holdings Capital | 0.74% | 0.01 | $10,272,420.00 | 9,720,000 | Corporate Securities | Cable Operators | United States | 5.00% | B1 | 01-Feb-2028 | 1.27 |
| Seven Generations Energy | 0.73% | 0.03 | $10,163,490.63 | 9,755,000 | Corporate Securities | Energy | Canada | 5.38% | Ba3 | 30-Sep-2025 | 0.48 |
| Bausch Health Americas | 0.67% | 0.00 | $9,227,065.46 | 8,225,000 | Corporate Securities | Healthcare | United States | 8.50% | B3 | 31-Jan-2027 | 1.24 |
| TransDigm | 0.61% | 0.01 | $8,474,144.93 | 7,965,000 | Corporate Securities | Aerospace & Defense | United States | 6.25% | Ba3 | 15-Mar-2026 | 0.91 |
| Netflix | 0.61% | 0.03 | $8,414,442.64 | 6,815,000 | Corporate Securities | Cable Operators | United States | 5.88% | Ba3 | 15-Nov-2028 | 6.19 |
| Occidental Petroleum | 0.61% | 0.04 | $8,407,503.61 | 6,580,000 | Corporate Securities | Energy | United States | 8.88% | Ba2 | 15-Jul-2030 | 6.33 |
| Hughes Satellite Systems | 0.61% | -0.01 | $8,386,301.63 | 7,515,000 | Corporate Securities | Satellites | United States | 6.63% | B2 | 01-Aug-2026 | 4.47 |
| Bausch Health | 0.61% | 0.36 | $8,383,960.03 | 7,365,000 | Corporate Securities | Healthcare | United States | 7.25% | B3 | 30-May-2029 | 2.77 |
| Bausch Health Americas | 0.59% | 0.02 | $8,209,287.00 | 7,115,000 | Corporate Securities | Healthcare | United States | 9.25% | B3 | 01-Apr-2026 | 0.95 |
| Solera LLC / Solera Finance | 0.57% | -0.00 | $7,851,907.50 | 7,530,000 | Corporate Securities | Information Technology | United States | 10.50% | Caa1 | 01-Mar-2024 | 0.08 |
| Tesla | 0.56% | 0.01 | $7,763,896.78 | 7,408,000 | Corporate Securities | Automotive | United States | 5.30% | B1 | 15-Aug-2025 | 0.36 |
| Tenet Healthcare | 0.56% | 0.02 | $7,692,814.85 | 7,185,000 | Corporate Securities | Healthcare | United States | 6.13% | Caa1 | 01-Oct-2028 | 3.90 |
| Altice France Holding | 0.55% | 0.25 | $7,570,476.00 | 7,640,000 | Corporate Securities | Cable Operators | France | 6.00% | Caa1 | 15-Feb-2028 | 5.50 |
| MDC Partners | 0.54% | 0.02 | $7,508,457.07 | 7,202,000 | Corporate Securities | Broadcasting | United States | 7.50% | B3 | 01-May-2024 | 0.99 |
| Avantor | 0.52% | -0.05 | $7,201,491.12 | 79,848 | Process Industries | Healthcare | United States | 6.25% | NR | 15-May-2022 | 1.23 |
| Bausch Health | 0.51% | -0.05 | $7,110,308.56 | 6,926,000 | Corporate Securities | Healthcare | United States | 7.00% | Ba2 | 15-Mar-2024 | 0.08 |
| Freeport-McMoRan | 0.51% | -0.00 | $7,097,587.75 | 5,830,000 | Corporate Securities | Metals & Mining | United States | 5.40% | Ba1 | 14-Nov-2034 | 9.58 |
| NGL Energy Operating LLC / NGL Energy Finance | 0.51% | N/A | $7,068,693.76 | 6,805,000 | Corporate Securities | Energy | United States | 7.50% | B1 | 01-Feb-2026 | 3.25 |
| B&G Foods | 0.50% | 0.02 | $6,977,171.25 | 6,615,000 | Corporate Securities | Food | United States | 5.25% | B2 | 01-Apr-2025 | 0.07 |
| Pacific Gas & Electric | 0.50% | -0.01 | $6,969,283.87 | 6,360,000 | Corporate Securities | Utilities | United States | 4.55% | Baa3 | 01-Jul-2030 | 7.18 |
| CCO Holdings LLC / CCO Holdings Capital | 0.50% | 0.29 | $6,913,011.37 | 6,355,000 | Corporate Securities | Cable Operators | United States | 5.38% | B1 | 01-Jun-2029 | 2.86 |
| Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance | 0.49% | 0.01 | $6,711,693.75 | 6,415,000 | Corporate Securities | Energy | United States | 6.00% | B3 | 01-Aug-2026 | 0.31 |
| CVR Partners LP / CVR Nitrogen Finance | 0.48% | 0.03 | $6,622,752.57 | 6,385,000 | Corporate Securities | Chemicals | United States | 9.25% | B2 | 15-Jun-2023 | 0.19 |
| Targa Resources Partners LP / Targa Resources Partners Finance | 0.48% | -0.01 | $6,610,395.40 | 6,285,000 | Corporate Securities | Energy | United States | 5.50% | Ba3 | 01-Mar-2030 | 5.71 |
| Chobani Llc / Chobani Finance | 0.47% | 0.02 | $6,553,478.33 | 6,088,000 | Corporate Securities | Food | United States | 7.50% | Caa2 | 15-Apr-2025 | 0.07 |
| CSC Holdings | 0.47% | -0.01 | $6,525,447.88 | 5,865,000 | Corporate Securities | Cable Operators | United States | 6.50% | Ba3 | 01-Feb-2029 | 2.56 |
| American Airlines Inc/AAdvantage Loyalty IP | 0.47% | N/A | $6,521,290.42 | 6,235,000 | Corporate Securities | Airlines | United States | 5.50% | Ba2 | 20-Apr-2026 | 3.30 |
| Altice France SA/France | 0.47% | -0.00 | $6,516,876.30 | 6,175,000 | Corporate Securities | Cable Operators | France | 7.38% | B2 | 01-May-2026 | 0.07 |
| American Airlines Inc/AAdvantage Loyalty IP | 0.44% | N/A | $6,095,455.21 | 5,725,000 | Corporate Securities | Airlines | United States | 5.75% | Ba2 | 20-Apr-2029 | 5.55 |
| Ford Motor | 0.43% | 0.13 | $5,993,204.43 | 4,805,000 | Corporate Securities | Automotive | United States | 9.00% | Ba2 | 22-Apr-2025 | 3.31 |
| Photo Holdings Merger Sub | 0.43% | 0.14 | $5,954,715.20 | 5,285,000 | Corporate Securities | Information Technology | United States | 8.50% | B2 | 01-Oct-2026 | 1.40 |
| Nustar Logistics | 0.42% | N/A | $5,838,553.15 | 5,410,000 | Corporate Securities | Energy | United States | 6.00% | Ba3 | 01-Jun-2026 | 4.18 |
| Altice France Holding | 0.42% | 0.02 | $5,812,033.50 | 4,980,000 | Corporate Securities | Cable Operators | France | 10.50% | NR | 15-May-2027 | 1.03 |
| Mauser Packaging Solutions Holding | 0.42% | 0.01 | $5,811,176.53 | 5,630,000 | Corporate Securities | Container | United States | 7.25% | Caa3 | 15-Apr-2025 | 0.94 |
| Stars Group Holdings BV / Stars Group US Co-Borrower | 0.41% | 0.00 | $5,605,786.46 | 5,275,000 | Corporate Securities | Gaming | Canada | 7.00% | Ba2 | 15-Jul-2026 | 0.27 |
| Nextera Energy Operating Partners | 0.40% | -0.01 | $5,591,612.50 | 5,150,000 | Corporate Securities | Utilities | United States | 4.50% | Ba1 | 15-Sep-2027 | 5.42 |
| Regionalcare Hospital Partners Holdings Inc / Lifepoint Health | 0.40% | 0.01 | $5,570,493.75 | 5,010,000 | Corporate Securities | Healthcare | United States | 9.75% | Caa1 | 01-Dec-2026 | 0.62 |
| Terrier Media Buyer | 0.40% | 0.10 | $5,564,447.00 | 5,040,000 | Corporate Securities | Broadcasting | United States | 8.88% | Caa1 | 15-Dec-2027 | 1.53 |
| H&E Equipment Services | 0.40% | -0.01 | $5,548,935.87 | 5,660,000 | Corporate Securities | Services | United States | 3.88% | B2 | 15-Dec-2028 | 6.49 |
| Scientific Games International | 0.40% | 0.00 | $5,545,649.73 | 5,145,000 | Corporate Securities | Gaming | United States | 8.25% | Caa2 | 15-Mar-2026 | 0.91 |
| Scientific Games International | 0.39% | 0.01 | $5,445,303.19 | 4,970,000 | Corporate Securities | Gaming | United States | 7.00% | Caa2 | 15-May-2028 | 1.91 |
| Bausch Health | 0.39% | 0.01 | $5,433,270.00 | 4,880,000 | Corporate Securities | Healthcare | United States | 9.00% | B3 | 15-Dec-2025 | 0.66 |
| NGL Energy Partners LP / NGL Energy Finance | 0.39% | 0.11 | $5,364,921.88 | 5,375,000 | Corporate Securities | Energy | United States | 7.50% | Caa1 | 01-Nov-2023 | 2.21 |
| Wynn Las Vegas LLC / Wynn Las Vegas Capital | 0.38% | 0.02 | $5,325,086.25 | 4,995,000 | Corporate Securities | Gaming | United States | 5.25% | B1 | 15-May-2027 | 4.94 |
| Uber Technologies | 0.38% | 0.01 | $5,213,439.00 | 4,725,000 | Corporate Securities | Information Technology | United States | 7.50% | B3 | 15-May-2025 | 1.04 |
| Targa Resources Partners LP / Targa Resources Partners Finance | 0.38% | N/A | $5,213,360.14 | 5,515,000 | Corporate Securities | Energy | United States | 4.00% | Ba3 | 15-Jan-2032 | 8.54 |
| PetSmart Inc / PetSmart Finance | 0.37% | N/A | $5,179,111.39 | 4,760,000 | Corporate Securities | Retail | United States | 7.75% | Caa1 | 15-Feb-2029 | 3.30 |
| Carnival | 0.37% | 0.16 | $5,134,266.38 | 4,735,000 | Corporate Securities | Entertainment & Leisure | United States | 7.63% | B2 | 01-Mar-2026 | 2.58 |
| Itau Unibanco Holding SA/Cayman Island | 0.37% | 0.01 | $5,108,907.31 | 4,980,000 | Corporate Securities | Banking | Brazil | 6.13% | B2 | 12-Jun-2169 | 1.55 |
| International Game Technology | 0.37% | -0.01 | $5,101,125.53 | 4,555,000 | Corporate Securities | Gaming | Italy | 6.25% | Ba3 | 15-Jan-2027 | 4.47 |
| Navient | 0.37% | 0.00 | $5,079,927.47 | 4,785,000 | Corporate Securities | Financial | United States | 6.13% | Ba3 | 25-Mar-2024 | 2.71 |
| NRG Energy | 0.36% | -0.00 | $5,035,823.49 | 4,760,000 | Corporate Securities | Utilities | United States | 6.63% | Ba2 | 15-Jan-2027 | 0.27 |
| CCO Holdings LLC / CCO Holdings Capital | 0.36% | 0.01 | $5,028,702.90 | 4,680,000 | Corporate Securities | Cable Operators | United States | 5.13% | B1 | 01-May-2027 | 1.02 |
| General Electric | 0.36% | -0.10 | $5,007,763.96 | 5,310,000 | Corporate Securities | Conglomerates | United States | 3.51% | Baa3 | 15-Jun-2169 | 0.25 |
| Clear Channel Outdoor Holdings | 0.36% | N/A | $4,944,293.75 | 4,950,000 | Corporate Securities | Broadcasting | United States | 7.75% | Caa2 | 15-Apr-2028 | 5.28 |
| Hecla Mining | 0.36% | 0.03 | $4,933,128.26 | 4,555,000 | Corporate Securities | Metals & Mining | United States | 7.25% | Caa1 | 15-Feb-2028 | 4.06 |
| Exterran Energy Solutions LP / EES Finance | 0.35% | 0.02 | $4,907,183.23 | 5,125,000 | Corporate Securities | Energy | United States | 8.13% | B3 | 01-May-2025 | 3.23 |
| NextEra Energy | 0.35% | 0.00 | $4,899,555.45 | 99,081 | Process Industries | Utilities | United States | 5.28% | NR | 01-Mar-2023 | 1.79 |
| Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons | 0.35% | -0.02 | $4,892,656.53 | 5,135,000 | Corporate Securities | Supermarkets | United States | 3.50% | B1 | 15-Mar-2029 | 6.82 |
| Cedar Fair LP / Canada s Wonderland Co / Magnum Management Corp / Millennium Op | 0.35% | 0.01 | $4,892,158.33 | 4,565,000 | Corporate Securities | Entertainment & Leisure | United States | 5.50% | Ba2 | 01-May-2025 | 1.02 |
| Tenneco | 0.35% | 0.20 | $4,827,173.96 | 5,055,000 | Corporate Securities | Automotive | United States | 5.00% | Caa1 | 15-Jul-2026 | 4.49 |
| American Electric Power | 0.34% | 0.01 | $4,743,065.25 | 97,775 | Process Industries | Utilities | United States | 6.13% | Baa2 | 15-Mar-2022 | 0.91 |
| Lumen Technologies | 0.34% | -0.00 | $4,701,227.38 | 4,745,000 | Corporate Securities | Other Telecommunications | United States | 4.50% | B2 | 15-Jan-2029 | 6.38 |
| Yum Brands | 0.34% | -0.00 | $4,657,245.41 | 3,725,000 | Corporate Securities | Restaurants | United States | 6.88% | Ba3 | 15-Nov-2037 | 10.37 |
| Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance | 0.33% | N/A | $4,567,502.08 | 4,575,000 | Corporate Securities | Container | United States | 4.00% | B3 | 01-Sep-2029 | 4.57 |
| OneMain Finance | 0.33% | -0.00 | $4,550,202.88 | 4,005,000 | Corporate Securities | Financial | United States | 6.88% | Ba3 | 15-Mar-2025 | 3.49 |
| Big River Steel LLC / BRS Finance | 0.33% | 0.01 | $4,542,052.09 | 4,175,000 | Corporate Securities | Metals & Mining | United States | 6.63% | B3 | 31-Jan-2029 | 2.23 |
| Icahn Enterprises LP / Icahn Enterprises Finance | 0.33% | 0.01 | $4,513,861.92 | 4,205,000 | Corporate Securities | Financial | United States | 6.25% | Ba3 | 15-May-2026 | 1.04 |
| Royal Caribbean Cruises | 0.33% | N/A | $4,505,548.44 | 4,480,000 | Corporate Securities | Entertainment & Leisure | United States | 5.50% | B2 | 01-Apr-2028 | 5.40 |
| Vertical Holdco GmbH | 0.33% | 0.26 | $4,503,328.12 | 4,140,000 | Corporate Securities | Services | Germany | 7.63% | Caa1 | 15-Jul-2028 | 2.85 |
| Dcp Midstream Operating | 0.33% | 0.01 | $4,503,230.00 | 4,010,000 | Corporate Securities | Energy | United States | 6.75% | Ba2 | 15-Sep-2037 | 10.26 |
| Diamond BC BV | 0.32% | -0.01 | $4,462,226.17 | 3,675,000 | Corporate Securities | Chemicals | United States | 5.63% | Caa1 | 15-Aug-2025 | 0.07 |
| SeaWorld Parks & Entertainment | 0.32% | 0.09 | $4,455,843.75 | 4,050,000 | Corporate Securities | Entertainment & Leisure | United States | 9.50% | Caa2 | 01-Aug-2025 | 0.78 |
| CHS/Community Health Systems | 0.32% | 0.02 | $4,441,498.60 | 3,960,000 | Corporate Securities | Healthcare | United States | 8.00% | Caa1 | 15-Dec-2027 | 1.55 |
| CCO Holdings LLC / CCO Holdings Capital | 0.32% | 0.01 | $4,399,851.58 | 4,175,000 | Corporate Securities | Cable Operators | United States | 5.50% | B1 | 01-May-2026 | 0.08 |
| Carnival | 0.32% | N/A | $4,391,217.97 | 3,705,000 | Corporate Securities | Entertainment & Leisure | United States | 9.88% | B1 | 01-Aug-2027 | 3.20 |
| Teva Pharmaceutical Finance Netherlands III BV | 0.31% | 0.06 | $4,320,577.21 | 3,865,000 | Corporate Securities | Healthcare | Israel | 7.13% | Ba2 | 31-Jan-2025 | 3.14 |
| Iceland Bondco | 0.31% | 0.01 | $4,317,652.29 | 3,095,000 | Corporate Securities | Supermarkets | United Kingdom | 4.63% | B2 | 15-Mar-2025 | 3.48 |
| Terraform Global Operating | 0.31% | 0.00 | $4,253,528.05 | 4,115,000 | Corporate Securities | Utilities | United States | 6.13% | Ba3 | 01-Mar-2026 | 1.77 |
| Cosan Luxembourg | 0.30% | -0.00 | $4,213,244.39 | 3,910,000 | Corporate Securities | Food | Brazil | 7.00% | Ba2 | 20-Jan-2027 | 0.76 |
| Uber Technologies | 0.30% | 0.00 | $4,158,756.25 | 3,765,000 | Corporate Securities | Information Technology | United States | 7.50% | B3 | 15-Sep-2027 | 1.37 |
| Avantor Funding | 0.30% | -0.00 | $4,145,977.00 | 3,960,000 | Corporate Securities | Healthcare | United States | 4.63% | B2 | 15-Jul-2028 | 3.83 |
| Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons | 0.30% | -0.00 | $4,108,690.63 | 3,705,000 | Corporate Securities | Supermarkets | United States | 7.50% | B1 | 15-Mar-2026 | 0.92 |
| HUB International | 0.29% | 0.01 | $4,079,062.88 | 3,825,000 | Corporate Securities | Financial | United States | 7.00% | Caa2 | 01-May-2026 | 0.08 |
| Cheniere Corpus Christi Holdings | 0.29% | 0.00 | $4,077,314.67 | 3,520,000 | Corporate Securities | Energy | United States | 5.13% | Baa3 | 30-Jun-2027 | 4.98 |
| Sprint Capital | 0.29% | -0.00 | $4,041,151.86 | 3,155,000 | Corporate Securities | Wireless Communications | United States | 6.88% | B1 | 15-Nov-2028 | 6.03 |
| Occidental Petroleum | 0.29% | 0.03 | $4,032,644.04 | 3,365,000 | Corporate Securities | Energy | United States | 7.95% | Ba2 | 15-Jun-2039 | 10.07 |
| American Airlines | 0.29% | 0.02 | $4,028,764.42 | 3,190,000 | Corporate Securities | Airlines | United States | 11.75% | Ba3 | 15-Jul-2025 | 3.41 |
| Royal Caribbean Cruises | 0.29% | -0.00 | $4,023,782.29 | 3,395,000 | Corporate Securities | Entertainment & Leisure | United States | 11.50% | Ba2 | 01-Jun-2025 | 1.07 |
| DISH DBS | 0.29% | -0.00 | $3,989,516.20 | 3,580,000 | Corporate Securities | Cable Operators | United States | 7.75% | B2 | 01-Jul-2026 | 4.25 |
| Kraton Polymers LLC / Kraton Polymers Capital | 0.29% | -0.00 | $3,961,268.30 | 3,210,000 | Corporate Securities | Chemicals | United States | 5.25% | B2 | 15-May-2026 | 0.11 |
| Marriott Ownership Resorts Inc / ILG | 0.29% | 0.00 | $3,952,313.01 | 3,770,000 | Corporate Securities | Lodging | United States | 6.50% | B1 | 15-Sep-2026 | 0.44 |
| Yum Brands | 0.29% | -0.01 | $3,952,305.21 | 3,635,000 | Corporate Securities | Restaurants | United States | 5.35% | Ba3 | 01-Nov-2043 | 12.96 |
| Ardagh Packaging Finance PLC / Ardagh Holdings USA | 0.28% | 0.00 | $3,923,876.56 | 3,775,000 | Corporate Securities | Container | United States | 5.25% | Caa1 | 15-Aug-2027 | 3.00 |
| Banco do Brasil SA/Cayman | 0.28% | 0.01 | $3,904,698.55 | 3,485,000 | Corporate Securities | Banking | Brazil | 9.00% | B2 | 18-Dec-2169 | 2.72 |
| Danaher | 0.28% | 0.01 | $3,892,783.46 | 3,002 | Capital Equipment | Manufacturing | United States | 5.00% | NR | 15-Apr-2023 | 1.99 |
| Amwins | 0.28% | 0.00 | $3,879,919.25 | 3,550,000 | Corporate Securities | Financial | United States | 7.75% | B3 | 01-Jul-2026 | 0.24 |
| CSC Holdings | 0.28% | -0.01 | $3,866,921.78 | 3,645,000 | Corporate Securities | Cable Operators | United States | 5.75% | B3 | 15-Jan-2030 | 5.54 |
| EQT | 0.28% | 0.01 | $3,849,743.89 | 2,995,000 | Corporate Securities | Energy | United States | 8.50% | Ba2 | 01-Feb-2030 | 6.39 |
| Altice Financing | 0.28% | -0.00 | $3,835,385.19 | 3,620,000 | Corporate Securities | Cable Operators | Luxembourg | 7.50% | B2 | 15-May-2026 | 0.11 |
| Delta Air Lines | 0.28% | 0.01 | $3,824,633.65 | 3,230,000 | Corporate Securities | Airlines | United States | 7.38% | Baa3 | 15-Jan-2026 | 3.99 |
| Citgo Holding | 0.28% | 0.02 | $3,811,963.55 | 3,775,000 | Corporate Securities | Energy | United States | 9.25% | Caa1 | 01-Aug-2024 | 2.02 |
| Connect Finco SARL / Connect US Finco | 0.28% | 0.01 | $3,811,018.75 | 3,500,000 | Corporate Securities | Satellites | United Kingdom | 6.75% | B1 | 01-Oct-2026 | 1.41 |
| Vistra Operations | 0.27% | 0.00 | $3,795,108.33 | 3,655,000 | Corporate Securities | Utilities | United States | 5.50% | Ba2 | 01-Sep-2026 | 0.40 |
| C&W Senior Financing DAC | 0.27% | -0.00 | $3,784,192.71 | 3,500,000 | Corporate Securities | Cable Operators | Panama | 6.88% | B2 | 15-Sep-2027 | 1.35 |
| Constellium | 0.27% | 0.01 | $3,772,066.77 | 3,635,000 | Corporate Securities | Metals & Mining | United States | 5.75% | B2 | 15-May-2024 | 0.11 |
| Wynn Macau | 0.27% | 0.00 | $3,771,321.87 | 3,610,000 | Corporate Securities | Gaming | Macau | 5.63% | B1 | 26-Aug-2028 | 3.85 |
| Netflix | 0.27% | 0.01 | $3,766,669.86 | 3,140,000 | Corporate Securities | Cable Operators | United States | 5.38% | Ba3 | 15-Nov-2029 | 6.96 |
| Peninsula Pacific Entertainment LLC / Peninsula Pacific Entertainment Finance In | 0.27% | 0.01 | $3,765,930.28 | 3,380,000 | Corporate Securities | Gaming | United States | 8.50% | Caa1 | 15-Nov-2027 | 3.69 |
| Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets | 0.27% | 0.01 | $3,713,297.99 | 3,385,000 | Corporate Securities | Airlines | United States | 6.50% | Baa3 | 20-Jun-2027 | 3.36 |
| CITGO Petroleum | 0.27% | 0.02 | $3,684,582.57 | 3,505,000 | Corporate Securities | Energy | United States | 7.00% | B3 | 15-Jun-2025 | 2.78 |
| Jerrold Finco | 0.26% | 0.01 | $3,658,431.85 | 2,580,000 | Corporate Securities | Financial | United Kingdom | 4.88% | NR | 15-Jan-2026 | 2.55 |
| Cushman & Wakefield US Borrower | 0.26% | 0.01 | $3,647,480.63 | 3,305,000 | Corporate Securities | Building & Real Estate | United States | 6.75% | Ba3 | 15-May-2028 | 1.92 |
| Genworth Mortgage Holdings | 0.26% | 0.00 | $3,638,291.46 | 3,345,000 | Corporate Securities | Financial | United States | 6.50% | Ba3 | 15-Aug-2025 | 3.40 |
| Lions Gate Capital Holdings | 0.26% | 0.01 | $3,633,129.93 | 3,485,000 | Corporate Securities | Broadcasting | United States | 6.38% | B3 | 01-Feb-2024 | 0.80 |
| Golden Nugget | 0.26% | 0.02 | $3,627,465.00 | 3,480,000 | Corporate Securities | Restaurants | United States | 6.75% | Caa2 | 15-Oct-2024 | 0.50 |
| CCO Holdings LLC / CCO Holdings Capital | 0.26% | -0.01 | $3,585,767.50 | 3,500,000 | Corporate Securities | Cable Operators | United States | 4.50% | B1 | 15-Aug-2030 | 5.84 |
| CCO Holdings LLC / CCO Holdings Capital | 0.26% | -0.00 | $3,569,989.50 | 3,465,000 | Corporate Securities | Cable Operators | United States | 4.50% | B1 | 01-May-2032 | 6.61 |
| Staples | 0.26% | 0.07 | $3,548,781.67 | 3,260,000 | Corporate Securities | Services | United States | 7.50% | B1 | 15-Apr-2026 | 0.95 |
| Cirsa Finance International Sarl | 0.26% | 0.02 | $3,545,500.62 | 3,403,000 | Corporate Securities | Gaming | Spain | 7.88% | B3 | 20-Dec-2023 | 1.12 |
| Clear Channel Worldwide Holdings | 0.26% | -0.23 | $3,542,352.62 | 3,362,000 | Corporate Securities | Broadcasting | United States | 9.25% | Caa2 | 15-Feb-2024 | 0.81 |
| Dave & Buster s | 0.26% | 0.01 | $3,530,377.79 | 3,200,000 | Corporate Securities | Restaurants | United States | 7.63% | Caa1 | 01-Nov-2025 | 1.43 |
| Centene | 0.26% | 0.00 | $3,529,645.04 | 3,220,000 | Corporate Securities | Healthcare | United States | 4.63% | Ba1 | 15-Dec-2029 | 3.36 |
| Staples | 0.25% | 0.01 | $3,518,560.69 | 3,430,000 | Corporate Securities | Services | United States | 10.75% | B3 | 15-Apr-2027 | 4.13 |
| Continental Resources Inc/OK | 0.25% | 0.01 | $3,516,205.00 | 3,080,000 | Corporate Securities | Energy | United States | 5.75% | Ba1 | 15-Jan-2031 | 7.18 |
| DAE Funding | 0.25% | 0.01 | $3,484,232.64 | 3,350,000 | Corporate Securities | Financial | United Arab Emirates | 5.00% | Baa3 | 01-Aug-2024 | 0.32 |
| American Builders & Contractors Supply | 0.25% | 0.01 | $3,481,396.32 | 3,295,000 | Corporate Securities | Building Products | United States | 5.88% | B1 | 15-May-2026 | 0.11 |
| CSC Holdings | 0.25% | N/A | $3,480,055.83 | 3,500,000 | Corporate Securities | Cable Operators | United States | 4.63% | B3 | 01-Dec-2030 | 7.58 |
| Navient | 0.25% | 0.01 | $3,475,170.00 | 3,165,000 | Corporate Securities | Financial | United States | 6.75% | Ba3 | 25-Jun-2025 | 3.62 |
| Sirius XM Radio | 0.25% | 0.00 | $3,463,409.31 | 3,310,000 | Corporate Securities | Broadcasting | United States | 5.38% | Ba3 | 15-Jul-2026 | 0.27 |
| Watco Cos LLC / Watco Finance | 0.25% | 0.03 | $3,463,403.41 | 3,215,000 | Corporate Securities | Transportation | United States | 6.50% | Caa1 | 15-Jun-2027 | 3.59 |
| Adient US | 0.25% | 0.01 | $3,444,690.00 | 2,985,000 | Corporate Securities | Automotive | United States | 9.00% | Ba3 | 15-Apr-2025 | 0.96 |
| T-Mobile US | 0.25% | 0.07 | $3,443,151.60 | 27,510 | Technology | Wireless Communications | United States | N/A | N/A | N/A | N/A |
| Adient Global Holdings | 0.25% | 0.00 | $3,441,867.19 | 3,330,000 | Corporate Securities | Automotive | United States | 4.88% | B3 | 15-Aug-2026 | 0.36 |
| Ziggo Bond Co BV | 0.25% | -0.00 | $3,420,225.00 | 3,240,000 | Corporate Securities | Cable Operators | Netherlands | 6.00% | B3 | 15-Jan-2027 | 0.75 |
| Cheniere Energy Partners | 0.25% | 0.00 | $3,414,297.85 | 3,215,000 | Corporate Securities | Energy | United States | 4.50% | Ba2 | 01-Oct-2029 | 5.60 |
| TransDigm | 0.25% | 0.01 | $3,400,186.30 | 3,010,000 | Corporate Securities | Aerospace & Defense | United States | 8.00% | Ba3 | 15-Dec-2025 | 0.97 |
| Calpine | 0.24% | -0.01 | $3,364,858.88 | 3,340,000 | Corporate Securities | Utilities | United States | 5.13% | B2 | 15-Mar-2028 | 4.31 |
| SS&C Technologies | 0.24% | 0.00 | $3,360,200.00 | 3,170,000 | Corporate Securities | Information Technology | United States | 5.50% | B2 | 30-Sep-2027 | 0.96 |
| NCL | 0.24% | 0.13 | $3,344,856.96 | 3,305,000 | Corporate Securities | Entertainment & Leisure | United States | 5.88% | Caa1 | 15-Mar-2026 | 4.04 |
| Cedar Fair LP / Canada s Wonderland Co / Magnum Management Corp / Millennium Op | 0.24% | 0.01 | $3,320,590.53 | 3,165,000 | Corporate Securities | Entertainment & Leisure | United States | 5.38% | B3 | 15-Apr-2027 | 2.71 |
| Occidental Petroleum | 0.24% | 0.01 | $3,317,500.77 | 2,765,000 | Corporate Securities | Energy | United States | 8.50% | Ba2 | 15-Jul-2027 | 4.61 |
| Novelis | 0.24% | -0.01 | $3,316,507.30 | 3,205,000 | Corporate Securities | Metals & Mining | United States | 4.75% | B1 | 30-Jan-2030 | 5.75 |
| Navient | 0.24% | 0.00 | $3,274,686.66 | 3,020,000 | Corporate Securities | Financial | United States | 7.25% | Ba3 | 25-Sep-2023 | 2.27 |
| Altice Financing | 0.24% | -0.01 | $3,263,187.50 | 3,270,000 | Corporate Securities | Cable Operators | Luxembourg | 5.00% | B2 | 15-Jan-2028 | 5.62 |
| Ascend Learning | 0.23% | 0.00 | $3,250,322.92 | 3,125,000 | Corporate Securities | Services | United States | 6.88% | Caa2 | 01-Aug-2025 | 0.32 |
| Sigma Holdco BV | 0.23% | -0.01 | $3,236,550.81 | 2,790,000 | Corporate Securities | Food | Netherlands | 5.75% | Caa1 | 15-May-2026 | 4.12 |
| FMG Resources August 2006 Pty | 0.23% | 0.01 | $3,226,190.63 | 2,940,000 | Corporate Securities | Metals & Mining | Australia | 5.13% | Ba1 | 15-May-2024 | 2.63 |
| Continental Resources Inc/OK | 0.23% | 0.01 | $3,225,207.33 | 3,175,000 | Corporate Securities | Energy | United States | 4.90% | Ba1 | 01-Jun-2044 | 13.42 |
| Laureate Education | 0.23% | 0.01 | $3,184,281.26 | 2,945,000 | Corporate Securities | Services | United States | 8.25% | B3 | 01-May-2025 | 0.08 |
| Sigma Holdco BV | 0.23% | 0.01 | $3,170,006.06 | 3,050,000 | Corporate Securities | Food | Netherlands | 7.88% | Caa1 | 15-May-2026 | 1.86 |
| Dcp Midstream Operating | 0.23% | 0.01 | $3,169,465.91 | 2,425,000 | Corporate Securities | Energy | United States | 8.13% | Ba2 | 16-Aug-2030 | 6.90 |
| Acrisure LLC / Acrisure Finance | 0.23% | 0.01 | $3,145,329.66 | 2,965,000 | Corporate Securities | Financial | United States | 7.00% | Caa2 | 15-Nov-2025 | 0.58 |
| DISH DBS | 0.23% | -0.00 | $3,131,823.44 | 2,945,000 | Corporate Securities | Cable Operators | United States | 7.38% | B2 | 01-Jul-2028 | 3.56 |
| Joseph T Ryerson & Son | 0.23% | -0.00 | $3,112,517.92 | 2,758,000 | Corporate Securities | Metals & Mining | United States | 8.50% | B3 | 01-Aug-2028 | 2.09 |
| Comstock Resources | 0.22% | 0.00 | $3,109,344.58 | 2,830,000 | Corporate Securities | Energy | United States | 9.75% | Caa1 | 15-Aug-2026 | 0.35 |
| Tallgrass Energy Partners LP / Tallgrass Energy Finance | 0.22% | -0.00 | $3,104,285.00 | 3,095,000 | Corporate Securities | Energy | United States | 6.00% | B1 | 31-Dec-2030 | 7.16 |
| Alcoa Nederland Holding BV | 0.22% | 0.01 | $3,098,781.25 | 2,850,000 | Corporate Securities | Metals & Mining | United States | 5.50% | Ba1 | 15-Dec-2027 | 2.04 |
| Altice France SA/France | 0.22% | 0.00 | $3,084,301.50 | 2,780,000 | Corporate Securities | Cable Operators | France | 8.13% | B2 | 01-Feb-2027 | 0.79 |
| GPD | 0.22% | N/A | $3,070,275.00 | 2,680,000 | Corporate Securities | Chemicals | United States | 10.13% | B3 | 01-Apr-2026 | 0.94 |
| Vistra | 0.22% | 0.07 | $3,041,558.00 | 170,300 | Process Industries | Utilities | United States | N/A | N/A | N/A | N/A |
| Navient | 0.22% | N/A | $3,027,892.71 | 3,100,000 | Corporate Securities | Financial | United States | 4.88% | Ba3 | 15-Mar-2028 | 5.76 |
| Veritas US Inc / Veritas Bermuda | 0.22% | 0.10 | $3,026,227.50 | 2,889,000 | Corporate Securities | Information Technology | United States | 10.50% | Caa2 | 01-Feb-2024 | 0.02 |
| Continental Resources Inc/OK | 0.22% | 0.01 | $2,995,824.65 | 2,815,000 | Corporate Securities | Energy | United States | 4.38% | Ba1 | 15-Jan-2028 | 5.62 |
| Level 3 Financing | 0.22% | N/A | $2,987,093.75 | 3,050,000 | Corporate Securities | Other Telecommunications | United States | 3.75% | Ba3 | 15-Jul-2029 | 6.97 |
| NiSource | 0.21% | 0.01 | $2,940,641.65 | 2,800,000 | Corporate Securities | Utilities | United States | 5.65% | NR | 15-Jun-2169 | 2.02 |
| Oci | 0.21% | 0.01 | $2,934,822.66 | 2,775,000 | Corporate Securities | Chemicals | Netherlands | 4.63% | Ba3 | 15-Oct-2025 | 3.17 |
| HCA | 0.21% | 0.00 | $2,933,736.56 | 2,565,000 | Corporate Securities | Healthcare | United States | 5.88% | Ba2 | 15-Feb-2026 | 3.87 |
| Radiate Holdco LLC / Radiate Finance | 0.21% | 0.00 | $2,921,498.33 | 2,760,000 | Corporate Securities | Cable Operators | United States | 6.50% | Caa1 | 15-Sep-2028 | 2.24 |
| eG Global Finance | 0.21% | 0.07 | $2,920,458.33 | 2,660,000 | Corporate Securities | Services | United Kingdom | 8.50% | B3 | 30-Oct-2025 | 0.54 |
| Vertical US Newco | 0.21% | -0.00 | $2,911,429.80 | 2,765,000 | Corporate Securities | Services | Luxembourg | 5.25% | B1 | 15-Jul-2027 | 3.78 |
| CSC Holdings | 0.21% | -0.00 | $2,899,942.63 | 2,620,000 | Corporate Securities | Cable Operators | United States | 7.50% | B3 | 01-Apr-2028 | 1.85 |
| Allied Universal Holdco LLC / Allied Universal Finance | 0.21% | 0.00 | $2,895,594.20 | 2,580,000 | Corporate Securities | Services | United States | 9.75% | Caa2 | 15-Jul-2027 | 1.18 |
| Acrisure LLC / Acrisure Finance | 0.21% | 0.07 | $2,895,307.77 | 2,471,000 | Corporate Securities | Financial | United States | 10.13% | Caa2 | 01-Aug-2026 | 1.23 |
| Navistar International | 0.21% | 0.01 | $2,892,954.17 | 2,540,000 | Corporate Securities | Automotive | United States | 9.50% | B2 | 01-May-2025 | 2.58 |
| Adtalem Global Education | 0.21% | N/A | $2,883,740.67 | 2,900,000 | Corporate Securities | Services | United States | 5.50% | B1 | 01-Mar-2028 | 5.64 |
| Howard Hughes | 0.21% | N/A | $2,875,305.47 | 2,925,000 | Corporate Securities | Building & Real Estate | United States | 4.13% | Ba3 | 01-Feb-2029 | 6.56 |
| Ineos Group Holdings | 0.21% | -0.01 | $2,854,126.58 | 2,380,000 | Corporate Securities | Chemicals | United Kingdom | 5.38% | B2 | 01-Aug-2024 | 0.02 |
| Range Resources | 0.21% | 0.01 | $2,852,113.33 | 2,600,000 | Corporate Securities | Energy | United States | 9.25% | B2 | 01-Feb-2026 | 0.78 |
| Prime Security Services Borrower LLC / Prime Finance | 0.21% | 0.04 | $2,837,327.83 | 2,700,000 | Corporate Securities | Services | United States | 6.25% | B3 | 15-Jan-2028 | 3.30 |
| Clear Channel Worldwide Holdings | 0.20% | 0.00 | $2,835,426.60 | 2,810,000 | Corporate Securities | Broadcasting | United States | 5.13% | B1 | 15-Aug-2027 | 3.03 |
| WeWork | 0.20% | N/A | $2,833,190.63 | 2,770,000 | Corporate Securities | Services | United States | 7.88% | NR | 01-May-2025 | 3.31 |
| Hudbay Minerals | 0.20% | 0.01 | $2,824,301.13 | 2,575,000 | Corporate Securities | Metals & Mining | Peru | 6.13% | B3 | 01-Apr-2029 | 2.72 |
| Post Holdings | 0.20% | N/A | $2,820,383.13 | 2,855,000 | Corporate Securities | Food | United States | 4.50% | B2 | 15-Sep-2031 | 8.22 |
| Univision Communications | 0.20% | 0.01 | $2,819,359.38 | 2,595,000 | Corporate Securities | Broadcasting | United States | 6.63% | B2 | 01-Jun-2027 | 1.96 |
| Boyd Gaming | 0.20% | 0.00 | $2,807,746.67 | 2,680,000 | Corporate Securities | Gaming | United States | 6.00% | Caa1 | 15-Aug-2026 | 0.36 |
| Delta Air Lines | 0.20% | 0.01 | $2,800,311.07 | 2,375,000 | Corporate Securities | Airlines | United States | 7.00% | Baa2 | 01-May-2025 | 3.50 |
| Tronox | 0.20% | N/A | $2,798,755.56 | 2,800,000 | Corporate Securities | Chemicals | United States | 4.63% | B3 | 15-Mar-2029 | 4.37 |
| MGM Resorts International | 0.20% | 0.00 | $2,795,433.33 | 2,600,000 | Corporate Securities | Gaming | United States | 6.00% | Ba3 | 15-Mar-2023 | 1.84 |
| Howard Hughes | 0.20% | 0.04 | $2,789,991.66 | 2,630,000 | Corporate Securities | Building & Real Estate | United States | 5.38% | Ba3 | 01-Aug-2028 | 2.15 |
| Telesat Canada / Telesat | 0.20% | -0.00 | $2,783,099.36 | 2,705,000 | Corporate Securities | Satellites | Canada | 6.50% | B3 | 15-Oct-2027 | 3.02 |
| PG&E | 0.20% | -0.00 | $2,765,437.50 | 2,580,000 | Corporate Securities | Utilities | United States | 5.25% | B1 | 01-Jul-2030 | 3.74 |
| Targa Resources Partners LP / Targa Resources Partners Finance | 0.20% | 0.10 | $2,761,868.27 | 2,505,000 | Corporate Securities | Energy | United States | 6.50% | Ba3 | 15-Jul-2027 | 1.21 |
| Service Properties Trust | 0.20% | 0.14 | $2,761,588.80 | 2,720,000 | Corporate Securities | Real Estate Investment Trust Securities | United States | 4.35% | Ba2 | 01-Oct-2024 | 3.20 |
| Southern | 0.20% | 0.01 | $2,740,056.00 | 53,350 | Process Industries | Utilities | United States | 6.75% | Baa3 | 01-Aug-2022 | 1.25 |
| L Brands | 0.20% | 0.00 | $2,736,176.56 | 2,155,000 | Corporate Securities | Retail | United States | 9.38% | B2 | 01-Jul-2025 | 3.55 |
| Caesars Resort Collection LLC / CRC Finco | 0.20% | 0.01 | $2,734,542.07 | 2,660,000 | Corporate Securities | Gaming | United States | 5.25% | Caa1 | 15-Oct-2025 | 1.42 |
| eG Global Finance | 0.20% | 0.01 | $2,725,064.56 | 2,597,000 | Corporate Securities | Services | United Kingdom | 6.75% | B3 | 07-Feb-2025 | 1.90 |
| FMG Resources August 2006 Pty | 0.20% | 0.00 | $2,704,280.10 | 2,530,000 | Corporate Securities | Metals & Mining | Australia | 5.13% | Ba1 | 15-Mar-2023 | 1.63 |
| Occidental Petroleum | 0.19% | 0.01 | $2,684,390.63 | 2,430,000 | Corporate Securities | Energy | United States | 6.38% | Ba2 | 01-Sep-2028 | 5.60 |
| GTCR AP Finance | 0.19% | 0.01 | $2,677,662.78 | 2,420,000 | Corporate Securities | Financial | United States | 8.00% | Caa2 | 15-May-2027 | 1.03 |
| Endeavor Energy Resources LP / EER Finance | 0.19% | 0.00 | $2,668,333.33 | 2,500,000 | Corporate Securities | Energy | United States | 5.75% | Ba3 | 30-Jan-2028 | 1.71 |
| Black Knight InfoServ | 0.19% | -0.00 | $2,661,911.60 | 2,705,000 | Corporate Securities | Services | United States | 3.63% | Ba3 | 01-Sep-2028 | 6.41 |
| Royal Caribbean Cruises | 0.19% | 0.01 | $2,643,614.40 | 2,520,000 | Corporate Securities | Entertainment & Leisure | United States | 5.25% | B2 | 15-Nov-2022 | 1.51 |
| L Brands | 0.19% | 0.01 | $2,639,141.83 | 2,265,000 | Corporate Securities | Retail | United States | 6.63% | B2 | 01-Oct-2030 | 3.92 |
| Post Holdings | 0.19% | 0.00 | $2,634,205.60 | 2,470,000 | Corporate Securities | Food | United States | 5.63% | B2 | 15-Jan-2028 | 1.56 |
| Level 3 Financing | 0.19% | 0.00 | $2,604,342.82 | 2,535,000 | Corporate Securities | Other Telecommunications | United States | 5.38% | Ba3 | 01-May-2025 | 0.08 |
| Nextera Energy Operating Partners | 0.19% | -0.00 | $2,576,340.00 | 2,430,000 | Corporate Securities | Utilities | United States | 4.25% | Ba1 | 15-Jul-2024 | 2.82 |
| Specialty Building Products Holdings LLC / SBP Finance | 0.19% | 0.05 | $2,574,037.50 | 2,490,000 | Corporate Securities | Building Products | United States | 6.38% | B3 | 30-Sep-2026 | 3.10 |
| Delta Air Lines Inc / SkyMiles IP | 0.19% | 0.00 | $2,564,134.46 | 2,340,000 | Corporate Securities | Airlines | United States | 4.75% | Baa1 | 20-Oct-2028 | 5.33 |
| Dcp Midstream | 0.18% | 0.02 | $2,552,481.51 | 2,785,000 | Corporate Securities | Energy | United States | 7.38% | B1 | 15-Jun-2169 | 1.47 |
| PGT Innovations | 0.18% | 0.02 | $2,539,950.00 | 2,360,000 | Corporate Securities | Building Products | United States | 6.75% | B2 | 01-Aug-2026 | 0.32 |
| Tenet Healthcare | 0.18% | 0.01 | $2,529,132.98 | 2,265,000 | Corporate Securities | Healthcare | United States | 7.50% | B1 | 01-Apr-2025 | 0.96 |
| Targa Resources Partners LP / Targa Resources Partners Finance | 0.18% | 0.00 | $2,527,205.21 | 2,265,000 | Corporate Securities | Energy | United States | 6.88% | Ba3 | 15-Jan-2029 | 2.50 |
| United Airlines Holdings | 0.18% | 0.01 | $2,505,635.42 | 2,450,000 | Corporate Securities | Airlines | United States | 5.00% | Ba3 | 01-Feb-2024 | 2.59 |
| Expedia | 0.18% | 0.01 | $2,504,788.72 | 2,120,000 | Corporate Securities | Information Technology | United States | 6.25% | Baa3 | 01-May-2025 | 3.37 |
| Consolidated Communications | 0.18% | 0.01 | $2,499,995.14 | 2,270,000 | Corporate Securities | Other Telecommunications | United States | 6.50% | B2 | 01-Oct-2028 | 3.89 |
| Occidental Petroleum | 0.18% | 0.00 | $2,495,871.77 | 2,335,000 | Corporate Securities | Energy | United States | 5.88% | Ba2 | 01-Sep-2025 | 3.67 |
| C&W Senior Financing DAC | 0.18% | -0.00 | $2,465,131.25 | 2,280,000 | Corporate Securities | Cable Operators | Panama | 6.88% | B2 | 15-Sep-2027 | 1.35 |
| Teva Pharmaceutical Finance Netherlands III BV | 0.18% | 0.00 | $2,452,735.83 | 2,450,000 | Corporate Securities | Healthcare | Israel | 2.80% | Ba2 | 21-Jul-2023 | 2.19 |
| Nexstar Broadcasting | 0.18% | -0.00 | $2,451,662.00 | 2,300,000 | Corporate Securities | Broadcasting | United States | 5.63% | B3 | 15-Jul-2027 | 3.75 |
| PG&E | 0.18% | -0.00 | $2,446,354.13 | 2,305,000 | Corporate Securities | Utilities | United States | 5.00% | B1 | 01-Jul-2028 | 2.09 |
| Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons | 0.18% | -0.00 | $2,442,736.00 | 2,290,000 | Corporate Securities | Supermarkets | United States | 5.88% | B1 | 15-Feb-2028 | 1.30 |
| Methanex | 0.18% | -0.00 | $2,432,269.22 | 2,315,000 | Corporate Securities | Chemicals | Canada | 5.13% | Ba1 | 15-Oct-2027 | 5.03 |
| RHP Hotel Properties LP / RHP Finance | 0.17% | 0.00 | $2,419,921.17 | 2,330,000 | Corporate Securities | Lodging | United States | 4.75% | B1 | 15-Oct-2027 | 3.96 |
| Occidental Petroleum | 0.17% | 0.00 | $2,403,816.25 | 2,070,000 | Corporate Securities | Energy | United States | 8.00% | Ba2 | 15-Jul-2025 | 3.44 |
| Nielsen Finance Llc / Nielsen Finance | 0.17% | 0.00 | $2,383,906.25 | 2,200,000 | Corporate Securities | Broadcasting | United States | 5.63% | B2 | 01-Oct-2028 | 3.16 |
| GFL Environmental | 0.17% | 0.01 | $2,370,918.96 | 2,087,000 | Corporate Securities | Services | Canada | 8.50% | B3 | 01-May-2027 | 1.00 |
| USA Compression Partners LP / USA Compression Finance | 0.17% | 0.00 | $2,358,500.01 | 2,225,000 | Corporate Securities | Energy | United States | 6.88% | B3 | 01-Apr-2026 | 2.68 |
| Performance Food | 0.17% | 0.01 | $2,348,098.53 | 2,190,000 | Corporate Securities | Services | United States | 5.50% | B2 | 15-Oct-2027 | 1.42 |
| DaVita | 0.17% | N/A | $2,336,894.08 | 2,255,000 | Corporate Securities | Healthcare | United States | 4.63% | Ba3 | 01-Jun-2030 | 5.96 |
| Triton Water Holdings | 0.17% | N/A | $2,319,078.13 | 2,275,000 | Corporate Securities | Food | United States | 6.25% | Caa1 | 01-Apr-2029 | 4.24 |
| Constellium | 0.17% | 0.02 | $2,318,983.26 | 156,794 | Basic Materials | Metals & Mining | France | N/A | N/A | N/A | N/A |
| Jaguar Land Rover Automotive | 0.17% | 0.01 | $2,316,509.55 | 2,065,000 | Corporate Securities | Automotive | United Kingdom | 7.75% | B1 | 15-Oct-2025 | 1.39 |
| Virgin Media Vendor Financing Notes IV DAC | 0.17% | -0.00 | $2,309,437.50 | 2,250,000 | Corporate Securities | Wireless Communications | United Kingdom | 5.00% | B2 | 15-Jul-2028 | 3.78 |
| HCA | 0.17% | -0.00 | $2,293,683.47 | 1,960,000 | Corporate Securities | Healthcare | United States | 5.88% | Ba2 | 01-Feb-2029 | 6.01 |
| LPL Holdings | 0.17% | N/A | $2,292,603.33 | 2,280,000 | Corporate Securities | Financial | United States | 4.00% | Ba2 | 15-Mar-2029 | 4.44 |
| Archrock Partners LP / Archrock Partners Finance | 0.17% | 0.00 | $2,288,165.63 | 2,115,000 | Corporate Securities | Energy | United States | 6.88% | B2 | 01-Apr-2027 | 3.47 |
| Prime Security Services Borrower LLC / Prime Finance | 0.17% | 0.07 | $2,287,149.31 | 2,125,000 | Corporate Securities | Services | United States | 5.75% | Ba3 | 15-Apr-2026 | 4.36 |
| Univar Solutions USA Inc/Washington | 0.16% | 0.00 | $2,269,052.67 | 2,150,000 | Corporate Securities | Chemicals | United States | 5.13% | B2 | 01-Dec-2027 | 3.27 |
| Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons | 0.16% | -0.01 | $2,265,404.17 | 2,200,000 | Corporate Securities | Supermarkets | United States | 4.88% | B1 | 15-Feb-2030 | 5.76 |
| FAGE International SA / FAGE USA Dairy Industry | 0.16% | 0.00 | $2,263,699.22 | 2,175,000 | Corporate Securities | Food | United States | 5.63% | B2 | 15-Aug-2026 | 0.35 |
| Caesars Entertainment | 0.16% | 0.04 | $2,256,767.63 | 2,025,000 | Corporate Securities | Gaming | United States | 8.13% | Caa1 | 01-Jul-2027 | 2.01 |
| CAB SELAS | 0.16% | N/A | $2,240,821.19 | 1,905,000 | Corporate Securities | Healthcare | France | 3.38% | NR | 01-Feb-2028 | 4.32 |
| Ovintiv Exploration | 0.16% | 0.01 | $2,225,936.68 | 2,000,000 | Corporate Securities | Energy | United States | 5.63% | Ba1 | 01-Jul-2024 | 2.94 |
| Victoria | 0.16% | N/A | $2,212,039.35 | 1,855,000 | Corporate Securities | Building Products | United Kingdom | 3.75% | B1 | 15-Mar-2028 | 4.44 |
| Bellis Acquisition | 0.16% | N/A | $2,210,914.42 | 1,590,000 | Corporate Securities | Supermarkets | United Kingdom | 3.25% | Ba2 | 16-Feb-2026 | 3.61 |
| Taylor Morrison Communities Inc / Taylor Morrison Holdings Ii | 0.16% | 0.01 | $2,202,310.94 | 2,010,000 | Corporate Securities | Building & Real Estate | United States | 5.88% | Ba3 | 15-Apr-2023 | 1.65 |
| Trivium Packaging Finance BV | 0.16% | -0.00 | $2,179,800.00 | 2,000,000 | Corporate Securities | Container | Netherlands | 8.50% | Caa2 | 15-Aug-2027 | 1.27 |
| Welbilt | 0.16% | -0.00 | $2,174,994.20 | 2,088,000 | Corporate Securities | Manufacturing | United States | 9.50% | Caa3 | 15-Feb-2024 | 0.08 |
| Navient | 0.16% | 0.00 | $2,171,959.83 | 2,175,000 | Corporate Securities | Financial | United States | 5.00% | Ba3 | 15-Mar-2027 | 4.71 |
| Summit Materials LLC / Summit Materials Finance | 0.16% | 0.00 | $2,170,662.98 | 2,045,000 | Corporate Securities | Building Products | United States | 6.50% | B2 | 15-Mar-2027 | 0.91 |
| Dana | 0.16% | 0.00 | $2,158,125.00 | 2,000,000 | Corporate Securities | Automotive | United States | 5.63% | B2 | 15-Jun-2028 | 2.03 |
| Drawbridge Special Opportunities Fund LP / Drawbridge Special Opportunities Fin | 0.15% | N/A | $2,130,749.42 | 2,060,000 | Corporate Securities | Financial | United States | 3.88% | NR | 15-Feb-2026 | 4.24 |
| MSCI | 0.15% | 0.00 | $2,130,374.27 | 2,040,000 | Corporate Securities | Services | United States | 4.00% | Ba2 | 15-Nov-2029 | 5.71 |
| T-Mobile USA | 0.15% | N/A | $2,123,524.11 | 2,185,000 | Corporate Securities | Wireless Communications | United States | 2.63% | Ba3 | 15-Feb-2029 | 7.00 |
| United Natural Foods | 0.15% | 0.01 | $2,122,638.13 | 1,930,000 | Corporate Securities | Supermarkets | United States | 6.75% | B3 | 15-Oct-2028 | 3.79 |
| Meritor | 0.15% | 0.00 | $2,122,250.00 | 1,950,000 | Corporate Securities | Automotive | United States | 6.25% | B1 | 01-Jun-2025 | 1.10 |
| Forterra Finance LLC / FRTA Finance | 0.15% | 0.00 | $2,116,349.10 | 1,945,000 | Corporate Securities | Building Products | United States | 6.50% | B2 | 15-Jul-2025 | 1.21 |
| Vistra Operations | 0.15% | -0.00 | $2,115,140.00 | 2,040,000 | Corporate Securities | Utilities | United States | 5.00% | Ba2 | 31-Jul-2027 | 3.01 |
| Wynn Macau | 0.15% | 0.00 | $2,112,916.67 | 2,000,000 | Corporate Securities | Gaming | Macau | 5.50% | B1 | 15-Jan-2026 | 2.89 |
| Pike | 0.15% | -0.00 | $2,110,641.67 | 2,060,000 | Corporate Securities | Utilities | United States | 5.50% | B3 | 01-Sep-2028 | 3.86 |
| Howard Hughes | 0.15% | N/A | $2,104,003.65 | 2,130,000 | Corporate Securities | Building & Real Estate | United States | 4.38% | Ba3 | 01-Feb-2031 | 7.82 |
| Arconic | 0.15% | -0.00 | $2,087,945.71 | 1,950,000 | Corporate Securities | Metals & Mining | United States | 6.13% | Ba3 | 15-Feb-2028 | 1.74 |
| MGM Growth Properties Operating Partnership LP / MGP Finance Co-Issuer | 0.15% | -0.00 | $2,079,801.53 | 1,870,000 | Corporate Securities | Gaming | United States | 5.75% | NR | 01-Feb-2027 | 4.76 |
| CHS/Community Health Systems | 0.15% | 0.00 | $2,078,673.75 | 1,935,000 | Corporate Securities | Healthcare | United States | 6.00% | Caa1 | 15-Jan-2029 | 4.09 |
| Ardagh Packaging Finance PLC / Ardagh Holdings USA | 0.15% | 0.00 | $2,078,000.00 | 2,000,000 | Corporate Securities | Container | United States | 6.00% | Caa1 | 15-Feb-2025 | 0.83 |
| Tenet Healthcare | 0.15% | 0.05 | $2,073,865.82 | 1,810,000 | Corporate Securities | Healthcare | United States | 6.88% | Caa1 | 15-Nov-2031 | 7.49 |
| Tenneco | 0.15% | N/A | $2,065,699.27 | 2,085,000 | Corporate Securities | Automotive | United States | 5.13% | Ba3 | 15-Apr-2029 | 6.49 |
| Realogy Group LLC / Realogy Co-Issuer | 0.15% | N/A | $2,065,212.50 | 1,790,000 | Corporate Securities | Building & Real Estate | United States | 9.38% | Caa1 | 01-Apr-2027 | 0.94 |
| New Albertsons | 0.15% | 0.00 | $2,063,059.75 | 1,725,000 | Corporate Securities | Supermarkets | United States | 7.45% | NR | 01-Aug-2029 | 6.30 |
| Apache | 0.15% | 0.00 | $2,060,635.16 | 1,955,000 | Corporate Securities | Exploration & Production | United States | 4.88% | Ba1 | 15-Nov-2027 | 5.11 |
| Wynn Resorts Finance LLC / Wynn Resorts Capital | 0.15% | 0.00 | $2,059,565.63 | 1,965,000 | Corporate Securities | Gaming | United States | 5.13% | B1 | 01-Oct-2029 | 6.68 |
| Viasat | 0.15% | 0.01 | $2,059,223.44 | 1,915,000 | Corporate Securities | Satellites | United States | 5.63% | Ba3 | 15-Apr-2027 | 0.97 |
| Sirius XM Radio | 0.15% | 0.00 | $2,058,876.51 | 1,945,000 | Corporate Securities | Broadcasting | United States | 5.00% | Ba3 | 01-Aug-2027 | 1.26 |
| Tallgrass Energy Partners LP / Tallgrass Energy Finance | 0.15% | 0.01 | $2,048,318.76 | 1,835,000 | Corporate Securities | Energy | United States | 7.50% | B1 | 01-Oct-2025 | 2.27 |
| Apache | 0.15% | 0.00 | $2,036,254.25 | 1,935,000 | Corporate Securities | Exploration & Production | United States | 4.63% | Ba1 | 15-Nov-2025 | 3.82 |
| MGM Growth Properties Operating Partnership LP / MGP Finance Co-Issuer | 0.15% | 0.00 | $2,033,554.79 | 2,015,000 | Corporate Securities | Gaming | United States | 3.88% | B1 | 15-Feb-2029 | 6.63 |
| PennyMac Financial Services | 0.15% | N/A | $2,030,594.10 | 2,105,000 | Corporate Securities | Financial | United States | 4.25% | B1 | 15-Feb-2029 | 6.53 |
| Sabre GLBL | 0.15% | 0.06 | $2,019,411.53 | 1,630,000 | Corporate Securities | Services | United States | 9.25% | Ba3 | 15-Apr-2025 | 3.26 |
| Embarq | 0.15% | -0.00 | $2,010,109.75 | 1,705,000 | Corporate Securities | Other Telecommunications | United States | 8.00% | Ba2 | 01-Jun-2036 | 8.97 |
| Marriott Ownership Resorts | 0.15% | 0.01 | $2,008,431.94 | 1,850,000 | Corporate Securities | Lodging | United States | 6.13% | Ba1 | 15-Sep-2025 | 1.05 |
| Altice France SA/France | 0.15% | -0.00 | $2,007,740.62 | 1,980,000 | Corporate Securities | Cable Operators | France | 5.13% | B2 | 15-Jan-2029 | 3.93 |
| T-Mobile USA | 0.14% | N/A | $1,990,519.78 | 2,045,000 | Corporate Securities | Wireless Communications | United States | 2.88% | Ba3 | 15-Feb-2031 | 8.44 |
| CommScope | 0.14% | 0.00 | $1,986,386.96 | 1,845,000 | Corporate Securities | Information Technology | United States | 7.13% | B3 | 01-Jul-2028 | 3.59 |
| AssuredPartners | 0.14% | 0.00 | $1,984,500.00 | 1,920,000 | Corporate Securities | Financial | United States | 5.63% | Caa2 | 15-Jan-2029 | 4.02 |
| Wynn Macau | 0.14% | 0.01 | $1,980,786.87 | 1,845,000 | Corporate Securities | Gaming | Macau | 5.50% | B1 | 01-Oct-2027 | 1.42 |
| Sirius XM Radio | 0.14% | -0.01 | $1,942,200.00 | 1,920,000 | Corporate Securities | Broadcasting | United States | 4.13% | Ba3 | 01-Jul-2030 | 6.14 |
| Cabot Financial Luxembourg | 0.14% | 0.01 | $1,913,545.06 | 1,309,893 | Corporate Securities | Financial | United Kingdom | 7.50% | Ba3 | 01-Oct-2023 | 0.01 |
| GCI | 0.14% | -0.00 | $1,903,178.75 | 1,815,000 | Corporate Securities | Cable Operators | United States | 4.75% | B3 | 15-Oct-2028 | 3.96 |
| Molina Healthcare | 0.14% | 0.00 | $1,899,865.14 | 1,820,000 | Corporate Securities | Healthcare | United States | 4.38% | Ba3 | 15-Jun-2028 | 3.77 |
| Legacy LifePoint Health | 0.14% | 0.00 | $1,897,439.38 | 1,735,000 | Corporate Securities | Healthcare | United States | 6.75% | B1 | 15-Apr-2025 | 0.96 |
| Ford Motor | 0.14% | 0.00 | $1,890,555.56 | 1,640,000 | Corporate Securities | Automotive | United States | 8.50% | Ba2 | 21-Apr-2023 | 1.84 |
| Acrisure LLC / Acrisure Finance | 0.14% | N/A | $1,889,400.00 | 1,920,000 | Corporate Securities | Financial | United States | 4.25% | B2 | 15-Feb-2029 | 6.57 |
| Yum Brands | 0.14% | 0.00 | $1,886,092.00 | 1,660,000 | Corporate Securities | Restaurants | United States | 7.75% | Ba3 | 01-Apr-2025 | 0.96 |
| Diamond Sports Group Llc / Diamond Sports Finance | 0.14% | -0.07 | $1,884,714.86 | 3,460,000 | Corporate Securities | Broadcasting | United States | 6.63% | Caa2 | 15-Aug-2027 | 4.29 |
| Cheniere Energy | 0.14% | 0.03 | $1,876,669.10 | 2,265,000 | Energy | Energy | United States | 4.25% | NR | 15-Mar-2045 | 13.82 |
| Tenneco | 0.14% | 0.00 | $1,872,575.48 | 1,645,000 | Corporate Securities | Automotive | United States | 7.88% | Ba3 | 15-Jan-2029 | 2.45 |
| Go Daddy Operating Co LLC / GD Finance | 0.13% | 0.00 | $1,866,793.50 | 1,755,000 | Corporate Securities | Information Technology | United States | 5.25% | Ba3 | 01-Dec-2027 | 1.10 |
| American Electric Power | 0.13% | 0.00 | $1,836,830.29 | 37,262 | Process Industries | Utilities | United States | 6.13% | NR | 15-Aug-2023 | 2.15 |
| Univision Communications | 0.13% | 0.00 | $1,821,622.92 | 1,595,000 | Corporate Securities | Broadcasting | United States | 9.50% | B2 | 01-May-2025 | 0.99 |
| LHC3 | 0.13% | -0.00 | $1,817,201.87 | 1,520,000 | Corporate Securities | Financial | Spain | 4.13% | Ba2 | 15-Aug-2024 | 0.35 |
| Methanex | 0.13% | -0.01 | $1,814,775.00 | 1,800,000 | Corporate Securities | Chemicals | Canada | 5.65% | Ba1 | 01-Dec-2044 | 12.62 |
| Select Medical | 0.13% | 0.00 | $1,807,499.13 | 1,690,000 | Corporate Securities | Healthcare | United States | 6.25% | B3 | 15-Aug-2026 | 1.29 |
| Victoria | 0.13% | N/A | $1,806,719.89 | 1,505,000 | Corporate Securities | Building Products | United Kingdom | 3.63% | B1 | 24-Aug-2026 | 3.56 |
| Tallgrass Energy Partners LP / Tallgrass Energy Finance | 0.13% | -0.06 | $1,800,964.85 | 1,769,000 | Corporate Securities | Energy | United States | 5.50% | B1 | 15-Sep-2024 | 1.37 |
| MGM China Holdings | 0.13% | N/A | $1,786,400.00 | 1,760,000 | Corporate Securities | Gaming | Macau | 4.75% | Ba3 | 01-Feb-2027 | 4.28 |
| Nustar Logistics | 0.13% | 0.01 | $1,777,458.40 | 1,630,000 | Corporate Securities | Energy | United States | 5.75% | Ba3 | 01-Oct-2025 | 3.76 |
| CHS/Community Health Systems | 0.13% | N/A | $1,761,878.99 | 1,670,000 | Corporate Securities | Healthcare | United States | 6.88% | Caa3 | 15-Apr-2029 | 4.19 |
| Mercer International | 0.13% | N/A | $1,754,345.83 | 1,680,000 | Corporate Securities | Forest Products | United States | 5.13% | Ba3 | 01-Feb-2029 | 4.21 |
| Quicken Loans | 0.13% | -0.00 | $1,752,818.30 | 1,649,000 | Corporate Securities | Financial | United States | 5.25% | Ba1 | 15-Jan-2028 | 1.67 |
| CSC Holdings | 0.13% | -0.00 | $1,748,820.37 | 1,580,000 | Corporate Securities | Cable Operators | United States | 7.50% | B3 | 01-Apr-2028 | 1.85 |
| Townsquare Media | 0.13% | 0.01 | $1,741,143.84 | 1,615,000 | Corporate Securities | Broadcasting | United States | 6.88% | B2 | 01-Feb-2026 | 1.68 |
| Zayo Group Holdings | 0.13% | -0.00 | $1,740,466.96 | 1,695,000 | Corporate Securities | Other Telecommunications | United States | 6.13% | Caa1 | 01-Mar-2028 | 3.43 |
| International Game Technology | 0.13% | -0.00 | $1,737,820.34 | 1,655,000 | Corporate Securities | Gaming | Italy | 5.25% | Ba3 | 15-Jan-2029 | 4.17 |
| Nexstar Broadcasting | 0.13% | -0.00 | $1,733,284.00 | 1,680,000 | Corporate Securities | Broadcasting | United States | 4.75% | B3 | 01-Nov-2028 | 3.98 |
| Ford Motor Credit | 0.13% | 0.00 | $1,733,017.19 | 1,590,000 | Corporate Securities | Automotive | United States | 5.13% | Ba2 | 16-Jun-2025 | 3.67 |
| L Brands | 0.13% | 0.01 | $1,732,485.73 | 1,495,000 | Corporate Securities | Retail | United States | 7.50% | B2 | 15-Jun-2029 | 2.81 |
| Caesars Resort Collection LLC / CRC Finco | 0.13% | 0.00 | $1,729,471.50 | 1,620,000 | Corporate Securities | Gaming | United States | 5.75% | B1 | 01-Jul-2025 | 1.18 |
| Presidio Holdings | 0.12% | -0.00 | $1,717,303.13 | 1,555,000 | Corporate Securities | Services | United States | 8.25% | Caa1 | 01-Feb-2028 | 1.67 |
| Constellium | 0.12% | N/A | $1,711,687.50 | 1,790,000 | Corporate Securities | Metals & Mining | United States | 3.75% | B2 | 15-Apr-2029 | 6.80 |
| Banff Merger Sub | 0.12% | -0.00 | $1,672,359.00 | 1,560,000 | Corporate Securities | Information Technology | United States | 9.75% | Caa2 | 01-Sep-2026 | 0.39 |
| Compass Minerals International | 0.12% | 0.00 | $1,657,697.85 | 1,515,000 | Corporate Securities | Chemicals | United States | 6.75% | B1 | 01-Dec-2027 | 1.53 |
| USA Compression Partners LP / USA Compression Finance | 0.12% | -0.00 | $1,655,721.38 | 1,585,000 | Corporate Securities | Energy | United States | 6.88% | B3 | 01-Sep-2027 | 3.75 |
| Post Holdings | 0.12% | 0.00 | $1,653,683.34 | 1,565,000 | Corporate Securities | Food | United States | 5.75% | B2 | 01-Mar-2027 | 0.88 |
| Lorca Telecom Bondco | 0.12% | -0.01 | $1,643,837.68 | 1,360,000 | Corporate Securities | Wireless Communications | Spain | 4.00% | B1 | 18-Sep-2027 | 4.01 |
| Studio City Finance | 0.12% | N/A | $1,643,175.00 | 1,620,000 | Corporate Securities | Gaming | Macau | 5.00% | B1 | 15-Jan-2029 | 4.16 |
| Occidental Petroleum | 0.12% | 0.01 | $1,626,590.00 | 1,520,000 | Corporate Securities | Energy | United States | 5.50% | Ba2 | 01-Dec-2025 | 3.85 |
| Scientific Games International | 0.12% | 0.00 | $1,611,751.13 | 1,450,000 | Corporate Securities | Gaming | United States | 8.63% | Caa2 | 01-Jul-2025 | 1.15 |
| Pactiv | 0.12% | 0.00 | $1,606,488.71 | 1,405,000 | Corporate Securities | Container | United States | 7.95% | Caa1 | 15-Dec-2025 | 3.87 |
| United Airlines Holdings | 0.12% | 0.01 | $1,602,937.50 | 1,545,000 | Corporate Securities | Airlines | United States | 4.25% | Ba3 | 01-Oct-2022 | 1.44 |
| VICI Properties LP / VICI Note | 0.12% | -0.01 | $1,600,892.92 | 1,518,000 | Corporate Securities | Gaming | United States | 4.63% | Ba3 | 01-Dec-2029 | 5.63 |
| Sabre GLBL | 0.12% | 0.00 | $1,597,087.92 | 1,460,000 | Corporate Securities | Services | United States | 7.38% | Ba3 | 01-Sep-2025 | 1.33 |
| Presidio Holdings | 0.12% | -0.00 | $1,596,904.28 | 1,545,000 | Corporate Securities | Services | United States | 4.88% | B1 | 01-Feb-2027 | 3.44 |
| SLM | 0.11% | 0.00 | $1,582,095.33 | 1,480,000 | Corporate Securities | Financial | United States | 4.20% | Ba1 | 29-Oct-2025 | 4.02 |
| LogMeIn | 0.11% | 0.00 | $1,579,070.00 | 1,500,000 | Corporate Securities | Information Technology | United States | 5.50% | B2 | 01-Sep-2027 | 3.88 |
| Occidental Petroleum | 0.11% | 0.01 | $1,558,868.91 | 1,395,000 | Corporate Securities | Energy | United States | 6.13% | Ba2 | 01-Jan-2031 | 7.03 |
| AA Bond | 0.11% | N/A | $1,555,076.03 | 1,080,000 | Corporate Securities | Services | United Kingdom | 6.50% | NR | 31-Jan-2026 | 3.32 |
| Park Intermediate Holdings LLC / PK domestic Property LLC / PK Finance Co-Issuer | 0.11% | 0.00 | $1,543,134.35 | 1,410,000 | Corporate Securities | Lodging | United States | 5.88% | B1 | 01-Oct-2028 | 2.31 |
| Scientific Games International | 0.11% | 0.00 | $1,517,305.18 | 1,365,000 | Corporate Securities | Gaming | United States | 7.25% | Caa2 | 15-Nov-2029 | 3.10 |
| Melco Resorts Finance | 0.11% | 0.01 | $1,511,197.99 | 1,415,000 | Corporate Securities | Gaming | Macau | 5.38% | Ba2 | 04-Dec-2029 | 4.04 |
| United Airlines Holdings | 0.11% | 0.01 | $1,499,305.42 | 1,465,000 | Corporate Securities | Airlines | United States | 4.88% | Ba3 | 15-Jan-2025 | 3.39 |
| Mattel | 0.11% | 0.00 | $1,497,384.38 | 1,350,000 | Corporate Securities | Consumer Products | United States | 5.88% | Ba2 | 15-Dec-2027 | 1.60 |
| New Enterprise Stone & Lime | 0.11% | 0.00 | $1,487,848.27 | 1,445,000 | Corporate Securities | Building Products | United States | 6.25% | B1 | 15-Mar-2026 | 1.81 |
| Life Time | 0.11% | N/A | $1,483,821.11 | 1,420,000 | Corporate Securities | Consumer Products | United States | 8.00% | Caa3 | 15-Apr-2026 | 3.22 |
| Comstock Resources | 0.11% | N/A | $1,478,862.01 | 1,440,000 | Corporate Securities | Energy | United States | 6.75% | Caa1 | 01-Mar-2029 | 4.81 |
| PennyMac Financial Services | 0.11% | 0.00 | $1,472,699.59 | 1,380,000 | Corporate Securities | Financial | United States | 5.38% | B1 | 15-Oct-2025 | 3.11 |
| Liberty Broadband | 0.11% | -0.00 | $1,471,199.00 | 9,700 | Consumer Services | Cable Operators | United States | N/A | N/A | N/A | N/A |
| OneMain Finance | 0.11% | -0.00 | $1,467,753.82 | 1,270,000 | Corporate Securities | Financial | United States | 7.13% | Ba3 | 15-Mar-2026 | 4.22 |
| Solaris Midstream Holdings | 0.11% | N/A | $1,463,962.50 | 1,430,000 | Corporate Securities | Energy | United States | 7.63% | B3 | 01-Apr-2026 | 3.40 |
| Hudbay Minerals | 0.11% | N/A | $1,456,669.50 | 1,430,000 | Corporate Securities | Metals & Mining | Peru | 4.50% | B3 | 01-Apr-2026 | 3.62 |
| Summit Materials LLC / Summit Materials Finance | 0.11% | 0.00 | $1,455,198.31 | 1,405,000 | Corporate Securities | Building Products | United States | 5.13% | B2 | 01-Jun-2025 | 0.15 |
| Freeport-McMoRan | 0.11% | 0.00 | $1,454,514.60 | 1,320,000 | Corporate Securities | Metals & Mining | United States | 5.25% | Ba1 | 01-Sep-2029 | 3.12 |
| Vail Resorts | 0.10% | 0.00 | $1,440,266.67 | 1,320,000 | Corporate Securities | Entertainment & Leisure | United States | 6.25% | B1 | 15-May-2025 | 1.05 |
| Alcoa Nederland Holding BV | 0.10% | 0.00 | $1,439,546.88 | 1,300,000 | Corporate Securities | Metals & Mining | United States | 6.13% | Ba1 | 15-May-2028 | 1.94 |
| Teva Pharmaceutical Finance | 0.10% | 0.00 | $1,431,654.40 | 1,312,000 | Corporate Securities | Drugs | Israel | 6.15% | Ba2 | 01-Feb-2036 | 9.80 |
| Apex Tool Group LLC / BC Mountain Finance | 0.10% | N/A | $1,431,502.50 | 1,410,000 | Corporate Securities | Manufacturing | United States | 9.00% | Caa3 | 15-Feb-2023 | 0.07 |
| FirstEnergy | 0.10% | N/A | $1,431,260.53 | 1,045,000 | Corporate Securities | Utilities | United States | 7.38% | Ba1 | 15-Nov-2031 | 7.72 |
| Hawaiian Brand Intellectual Property Ltd / Hawaiianmiles Loyalty | 0.10% | N/A | $1,430,710.56 | 1,340,000 | Corporate Securities | Airlines | United States | 5.75% | Ba3 | 20-Jan-2026 | 3.35 |
| Advantage Sales & Marketing | 0.10% | 0.00 | $1,427,949.38 | 1,335,000 | Corporate Securities | Services | United States | 6.50% | B2 | 15-Nov-2028 | 3.86 |
| Aethon United BR LP / Aethon United Finance | 0.10% | N/A | $1,423,286.36 | 1,355,000 | Corporate Securities | Energy | United States | 8.25% | B3 | 15-Feb-2026 | 3.23 |
| Mattel | 0.10% | 0.05 | $1,411,020.00 | 1,170,000 | Corporate Securities | Consumer Products | United States | 6.20% | B1 | 01-Oct-2040 | 11.98 |
| Freeport-McMoRan | 0.10% | -0.00 | $1,409,156.61 | 1,175,000 | Corporate Securities | Metals & Mining | United States | 5.45% | Ba1 | 15-Mar-2043 | 13.42 |
| DISH Network | 0.10% | 0.00 | $1,409,084.42 | 1,455,000 | Consumer Services | Cable Operators | United States | 3.38% | B1 | 15-Aug-2026 | 4.81 |
| Tenneco | 0.10% | 0.01 | $1,407,877.92 | 1,380,000 | Corporate Securities | Automotive | United States | 5.38% | Caa1 | 15-Dec-2024 | 1.57 |
| Tallgrass Energy Partners LP / Tallgrass Energy Finance | 0.10% | -0.00 | $1,406,640.63 | 1,385,000 | Corporate Securities | Energy | United States | 6.00% | B1 | 01-Mar-2027 | 3.43 |
| MGM China Holdings | 0.10% | 0.00 | $1,402,678.12 | 1,325,000 | Corporate Securities | Gaming | Macau | 5.25% | Ba3 | 18-Jun-2025 | 1.14 |
| MGM China Holdings | 0.10% | 0.00 | $1,384,326.41 | 1,290,000 | Corporate Securities | Gaming | Macau | 5.88% | Ba3 | 15-May-2026 | 1.05 |
| New Albertsons | 0.10% | 0.00 | $1,370,808.33 | 1,084,000 | Corporate Securities | Supermarkets | United States | 8.00% | NR | 01-May-2031 | 7.06 |
| Park Intermediate Holdings LLC / PK domestic Property LLC / PK Finance Co-Issuer | 0.10% | 0.00 | $1,370,681.25 | 1,230,000 | Corporate Securities | Lodging | United States | 7.50% | B1 | 01-Jun-2025 | 1.09 |
| MGM China Holdings | 0.10% | 0.00 | $1,370,214.63 | 1,300,000 | Corporate Securities | Gaming | Macau | 5.38% | Ba3 | 15-May-2024 | 1.05 |
| Freeport-McMoRan | 0.10% | 0.00 | $1,365,552.37 | 1,285,000 | Corporate Securities | Metals & Mining | United States | 5.00% | Ba1 | 01-Sep-2027 | 1.35 |
| OneMain Finance | 0.10% | 0.00 | $1,365,220.00 | 1,200,000 | Corporate Securities | Financial | United States | 8.88% | Ba3 | 01-Jun-2025 | 1.08 |
| New Gold | 0.10% | -0.01 | $1,363,257.30 | 1,295,000 | Corporate Securities | Metals & Mining | Canada | 7.50% | Caa1 | 15-Jul-2027 | 3.58 |
| Kraft Heinz Foods | 0.10% | 0.00 | $1,339,614.43 | 965,000 | Corporate Securities | Food | United States | 6.88% | Baa3 | 26-Jan-2039 | 11.38 |
| Goodyear Tire & Rubber | 0.10% | 0.00 | $1,337,383.33 | 1,160,000 | Corporate Securities | Automotive | United States | 9.50% | B2 | 31-May-2025 | 1.08 |
| Scripps Escrow II | 0.10% | -0.00 | $1,335,549.40 | 1,325,000 | Corporate Securities | Broadcasting | United States | 5.38% | Caa1 | 15-Jan-2031 | 7.42 |
| Trivium Packaging Finance BV | 0.10% | 0.00 | $1,327,162.51 | 1,255,000 | Corporate Securities | Container | Netherlands | 5.50% | B2 | 15-Aug-2026 | 1.30 |
| Colfax | 0.10% | 0.00 | $1,318,819.33 | 1,230,000 | Corporate Securities | Manufacturing | United States | 6.38% | Ba2 | 15-Feb-2026 | 0.83 |
| Sempra Energy | 0.10% | 0.01 | $1,318,000.00 | 10,000 | Process Industries | Utilities | United States | N/A | N/A | N/A | N/A |
| Alcoa Nederland Holding BV | 0.09% | -0.00 | $1,312,696.88 | 1,245,000 | Corporate Securities | Metals & Mining | United States | 7.00% | Ba1 | 30-Sep-2026 | 0.48 |
| Williams Scotsman International | 0.09% | -0.00 | $1,311,065.87 | 1,285,000 | Corporate Securities | Services | United States | 4.63% | B3 | 15-Aug-2028 | 3.90 |
| ASR Media & Sponsorship | 0.09% | -0.01 | $1,309,312.50 | 1,133,342 | Corporate Securities | Entertainment & Leisure | Italy | 5.13% | NR | 01-Aug-2024 | 2.86 |
| Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer | 0.09% | 0.00 | $1,308,378.00 | 1,200,000 | Corporate Securities | Financial | United States | 6.75% | NR | 15-Oct-2027 | 1.40 |
| Arconic | 0.09% | 0.00 | $1,301,450.00 | 1,200,000 | Corporate Securities | Metals & Mining | United States | 6.00% | Ba1 | 15-May-2025 | 1.06 |
| CommScope | 0.09% | 0.00 | $1,300,405.88 | 1,205,000 | Corporate Securities | Information Technology | United States | 8.25% | B3 | 01-Mar-2027 | 0.87 |
| LSF9 Atlantis Holdings LLC / Victra Finance | 0.09% | N/A | $1,298,763.94 | 1,255,000 | Corporate Securities | Retail | United States | 7.75% | B2 | 15-Feb-2026 | 3.27 |
| Vtr Finance | 0.09% | -0.00 | $1,290,731.38 | 1,183,000 | Corporate Securities | Cable Operators | Chile | 6.38% | B1 | 15-Jul-2028 | 2.09 |
| Methanex | 0.09% | -0.00 | $1,286,176.34 | 1,235,000 | Corporate Securities | Chemicals | Canada | 5.25% | Ba1 | 15-Dec-2029 | 6.69 |
| RP Escrow Issuer | 0.09% | 0.00 | $1,284,609.17 | 1,220,000 | Corporate Securities | Healthcare | United States | 5.25% | B3 | 15-Dec-2025 | 3.29 |
| Garfunkelux Holdco 3 | 0.09% | 0.00 | $1,284,290.51 | 1,030,000 | Corporate Securities | Financial | Germany | 6.75% | B2 | 01-Nov-2025 | 2.23 |
| CCO Holdings LLC / CCO Holdings Capital | 0.09% | -0.04 | $1,282,437.50 | 1,275,000 | Corporate Securities | Cable Operators | United States | 4.25% | B1 | 01-Feb-2031 | 6.14 |
| Ardagh Packaging Finance PLC / Ardagh Holdings USA | 0.09% | 0.00 | $1,267,096.80 | 1,185,000 | Corporate Securities | Container | United States | 5.25% | B1 | 30-Apr-2025 | 1.02 |
| Hilcorp Energy I Lp / Hilcorp Finance | 0.09% | N/A | $1,259,685.00 | 1,240,000 | Corporate Securities | Energy | United States | 6.00% | Ba3 | 01-Feb-2031 | 6.12 |
| GrafTech Finance | 0.09% | 0.04 | $1,251,299.22 | 1,225,000 | Corporate Securities | Metals & Mining | United States | 4.63% | Ba3 | 15-Dec-2028 | 4.13 |
| Cheniere Energy Partners | 0.09% | 0.00 | $1,238,535.38 | 1,155,000 | Corporate Securities | Energy | United States | 5.63% | Ba2 | 01-Oct-2026 | 0.48 |
| White Cap Buyer | 0.09% | 0.00 | $1,237,504.69 | 1,135,000 | Corporate Securities | Services | United States | 6.88% | Caa1 | 15-Oct-2028 | 3.77 |
| Cleveland-Cliffs | 0.09% | -0.04 | $1,208,881.17 | 996,000 | Corporate Securities | Metals & Mining | United States | 9.88% | B2 | 17-Oct-2025 | 1.39 |
| Boxer Parent | 0.09% | -0.00 | $1,206,679.69 | 1,125,000 | Corporate Securities | Information Technology | United States | 9.13% | Caa2 | 01-Mar-2026 | 0.40 |
| Avis Budget Car Rental LLC / Avis Budget Finance | 0.09% | 0.00 | $1,198,725.83 | 1,140,000 | Corporate Securities | Services | United States | 5.75% | B3 | 15-Jul-2027 | 1.21 |
| Teva Pharmaceutical Finance Netherlands III BV | 0.09% | 0.00 | $1,195,247.25 | 1,095,000 | Corporate Securities | Healthcare | Israel | 6.00% | Ba2 | 15-Apr-2024 | 2.49 |
| Matador Resources | 0.09% | -0.51 | $1,179,527.64 | 1,205,000 | Corporate Securities | Energy | United States | 5.88% | B3 | 15-Sep-2026 | 4.57 |
| Energizer Holdings | 0.08% | -0.02 | $1,170,887.50 | 1,175,000 | Corporate Securities | Consumer Products | United States | 4.38% | B2 | 31-Mar-2029 | 4.03 |
| B&G Foods | 0.08% | -0.00 | $1,165,245.00 | 1,125,000 | Corporate Securities | Food | United States | 5.25% | B2 | 15-Sep-2027 | 3.51 |
| Summit Materials LLC / Summit Materials Finance | 0.08% | 0.00 | $1,162,828.33 | 1,105,000 | Corporate Securities | Building Products | United States | 5.25% | B2 | 15-Jan-2029 | 3.78 |
| Urban One | 0.08% | N/A | $1,141,286.57 | 1,095,000 | Corporate Securities | Broadcasting | United States | 7.38% | B3 | 01-Feb-2028 | 3.97 |
| HCA | 0.08% | -0.00 | $1,137,884.32 | 985,000 | Corporate Securities | Healthcare | United States | 5.63% | Ba2 | 01-Sep-2028 | 5.79 |
| International Game Technology | 0.08% | N/A | $1,133,258.07 | 1,105,000 | Corporate Securities | Gaming | Italy | 4.13% | Ba3 | 15-Apr-2026 | 3.69 |
| Hilcorp Energy I Lp / Hilcorp Finance | 0.08% | N/A | $1,129,864.38 | 1,110,000 | Corporate Securities | Energy | United States | 5.75% | Ba3 | 01-Feb-2029 | 4.84 |
| Veritas US Inc / Veritas Bermuda | 0.08% | 0.00 | $1,127,250.00 | 1,080,000 | Corporate Securities | Information Technology | United States | 7.50% | B2 | 01-Sep-2025 | 2.17 |
| Mauser Packaging Solutions Holding | 0.08% | 0.00 | $1,122,362.22 | 1,040,000 | Corporate Securities | Container | United States | 8.50% | B3 | 15-Apr-2024 | 0.94 |
| OneMain Finance | 0.08% | -0.00 | $1,118,252.96 | 975,000 | Corporate Securities | Financial | United States | 6.63% | Ba3 | 15-Jan-2028 | 5.14 |
| Virgin Media Secured Finance | 0.08% | 0.00 | $1,114,569.60 | 790,000 | Corporate Securities | Cable Operators | United Kingdom | 4.25% | Ba3 | 15-Jan-2030 | 5.54 |
| Picasso Finance Sub | 0.08% | -0.01 | $1,097,835.96 | 1,017,000 | Corporate Securities | Services | United States | 6.13% | B3 | 15-Jun-2025 | 1.13 |
| Vertical US Newco | 0.08% | -0.00 | $1,095,076.67 | 1,040,000 | Corporate Securities | Services | Luxembourg | 5.25% | B1 | 15-Jul-2027 | 2.97 |
| Life Time | 0.08% | N/A | $1,091,759.38 | 1,050,000 | Corporate Securities | Consumer Products | United States | 5.75% | B3 | 15-Jan-2026 | 3.34 |
| Navient | 0.08% | 0.00 | $1,080,891.00 | 980,000 | Corporate Securities | Financial | United States | 6.75% | Ba3 | 15-Jun-2026 | 4.31 |
| Ziggo Bond Co BV | 0.08% | -0.00 | $1,071,904.17 | 1,040,000 | Corporate Securities | Cable Operators | Netherlands | 5.13% | B3 | 28-Feb-2030 | 5.68 |
| Range Resources | 0.08% | N/A | $1,069,077.91 | 980,000 | Corporate Securities | Energy | United States | 8.25% | B2 | 15-Jan-2029 | 3.18 |
| Group 1 Automotive | 0.08% | -0.01 | $1,056,435.97 | 1,055,000 | Corporate Securities | Automotive | United States | 4.00% | Ba2 | 15-Aug-2028 | 6.28 |
| Outfront Media Capital LLC / Outfront Media Capital | 0.08% | 0.00 | $1,056,222.22 | 980,000 | Corporate Securities | Broadcasting | United States | 6.25% | B2 | 15-Jun-2025 | 1.13 |
| Viking Cruises | 0.08% | N/A | $1,052,962.50 | 860,000 | Corporate Securities | Entertainment & Leisure | United States | 13.00% | B2 | 15-May-2025 | 1.01 |
| Taylor Morrison Communities | 0.08% | -0.00 | $1,051,458.33 | 980,000 | Corporate Securities | Building & Real Estate | United States | 5.13% | Ba3 | 01-Aug-2030 | 7.06 |
| Transocean Pontus | 0.08% | N/A | $1,046,819.55 | 1,091,125 | Corporate Securities | Energy | United States | 6.13% | Caa1 | 01-Aug-2025 | 2.53 |
| LCPR Senior Secured Financing DAC | 0.08% | N/A | $1,037,928.94 | 945,000 | Corporate Securities | Cable Operators | United States | 6.75% | B1 | 15-Oct-2027 | 1.41 |
| Radiology Partners | 0.07% | 0.03 | $1,033,564.58 | 935,000 | Corporate Securities | Healthcare | United States | 9.25% | Caa3 | 01-Feb-2028 | 1.65 |
| Shift4 Payments LLC / Shift4 Payments Finance Sub | 0.07% | 0.00 | $1,030,166.95 | 970,000 | Corporate Securities | Services | United States | 4.63% | Ba3 | 01-Nov-2026 | 1.48 |
| Vertical Holdco GmbH | 0.07% | -0.00 | $1,027,933.60 | 945,000 | Corporate Securities | Services | Germany | 7.63% | Caa1 | 15-Jul-2028 | 2.85 |
| MGIC Investment | 0.07% | -0.00 | $1,027,611.67 | 980,000 | Corporate Securities | Financial | United States | 5.25% | Ba1 | 15-Aug-2028 | 3.86 |
| New Gold | 0.07% | 0.00 | $1,027,447.46 | 973,000 | Corporate Securities | Metals & Mining | Canada | 6.38% | Caa1 | 15-May-2025 | 1.92 |
| DISH DBS | 0.07% | 0.00 | $1,014,038.97 | 950,000 | Corporate Securities | Cable Operators | United States | 5.88% | B2 | 15-Nov-2024 | 3.17 |
| CrownRock LP / CrownRock Finance | 0.07% | 0.00 | $1,002,300.00 | 960,000 | Corporate Securities | Energy | United States | 5.63% | B2 | 15-Oct-2025 | 2.28 |
| Avis Budget Car Rental LLC / Avis Budget Finance | 0.07% | 0.00 | $998,938.19 | 950,000 | Corporate Securities | Services | United States | 5.75% | B3 | 15-Jul-2027 | 1.21 |
| NCL Finance | 0.07% | N/A | $995,674.69 | 970,000 | Corporate Securities | Entertainment & Leisure | United States | 6.13% | Caa1 | 15-Mar-2028 | 5.42 |
| Diamond Sports Group Llc / Diamond Sports Finance | 0.07% | 0.05 | $975,375.10 | 1,335,000 | Corporate Securities | Broadcasting | United States | 5.38% | B2 | 15-Aug-2026 | 4.27 |
| Boyd Gaming | 0.07% | 0.00 | $968,287.50 | 855,000 | Corporate Securities | Gaming | United States | 8.63% | Caa1 | 01-Jun-2025 | 1.08 |
| Laboratoire Eimer Selas | 0.07% | N/A | $960,988.21 | 800,000 | Corporate Securities | Healthcare | France | 5.00% | Caa1 | 01-Feb-2029 | 4.13 |
| Hilton domestic Operating | 0.07% | 0.00 | $952,225.16 | 865,000 | Corporate Securities | Lodging | United States | 5.75% | Ba2 | 01-May-2028 | 1.91 |
| Cedar Fair | 0.07% | 0.00 | $941,447.37 | 905,000 | Corporate Securities | Entertainment & Leisure | United States | 5.25% | NR | 15-Jul-2029 | 5.26 |
| Contourglobal Power Holdings | 0.07% | -0.00 | $922,055.98 | 772,000 | Corporate Securities | Utilities | Spain | 3.13% | NR | 01-Jan-2028 | 4.28 |
| Chobani Llc / Chobani Finance | 0.07% | 0.00 | $917,662.78 | 880,000 | Corporate Securities | Food | United States | 4.63% | B1 | 15-Nov-2028 | 4.04 |
| Angi | 0.07% | -0.00 | $911,662.01 | 910,000 | Corporate Securities | Information Technology | United States | 3.88% | Ba3 | 15-Aug-2028 | 6.31 |
| Cablevision Lightpath | 0.07% | -0.00 | $910,103.13 | 895,000 | Corporate Securities | Cable Operators | United States | 5.63% | Caa1 | 15-Sep-2028 | 3.88 |
| Virgin Media Secured Finance | 0.07% | 0.00 | $909,688.48 | 605,000 | Corporate Securities | Cable Operators | United Kingdom | 5.25% | Ba3 | 15-May-2029 | 2.81 |
| iHeartCommunications | 0.06% | 0.00 | $895,507.50 | 834,000 | Corporate Securities | Broadcasting | United States | 6.38% | B1 | 01-May-2026 | 1.02 |
| Virgin Media Finance | 0.06% | -0.00 | $890,900.00 | 885,000 | Corporate Securities | Cable Operators | United Kingdom | 5.00% | B2 | 15-Jul-2030 | 5.98 |
| Transocean Proteus | 0.06% | N/A | $870,681.77 | 897,000 | Corporate Securities | Energy | United States | 6.25% | NR | 01-Dec-2024 | 2.12 |
| Home Point Capital | 0.06% | N/A | $841,050.00 | 840,000 | Corporate Securities | Financial | United States | 5.00% | B2 | 01-Feb-2026 | 4.19 |
| Mohegan Gaming & Entertainment | 0.06% | N/A | $841,041.67 | 825,000 | Corporate Securities | Gaming | United States | 8.00% | NR | 01-Feb-2026 | 3.20 |
| Zayo Group Holdings | 0.06% | -0.03 | $836,942.58 | 850,000 | Corporate Securities | Other Telecommunications | United States | 4.00% | B1 | 01-Mar-2027 | 5.18 |
| TransDigm | 0.06% | 0.00 | $829,268.08 | 775,000 | Corporate Securities | Aerospace & Defense | United States | 7.50% | B3 | 15-Mar-2027 | 0.91 |
| Bellis Finco | 0.06% | N/A | $827,181.74 | 595,000 | Corporate Securities | Supermarkets | United Kingdom | 4.00% | B1 | 16-Feb-2027 | 3.55 |
| Boxer Parent | 0.06% | 0.00 | $819,239.39 | 635,000 | Corporate Securities | Information Technology | United States | 6.50% | B2 | 02-Oct-2025 | 1.09 |
| Realogy Group LLC / Realogy Co-Issuer | 0.06% | N/A | $809,658.00 | 810,000 | Corporate Securities | Building & Real Estate | United States | 5.75% | Caa1 | 15-Jan-2029 | 6.09 |
| Six Flags theme Parks | 0.06% | -0.00 | $808,959.38 | 735,000 | Corporate Securities | Entertainment & Leisure | United States | 7.00% | Ba2 | 01-Jul-2025 | 1.17 |
| Hilton domestic Operating | 0.06% | 0.00 | $799,679.90 | 745,000 | Corporate Securities | Lodging | United States | 5.38% | Ba2 | 01-May-2025 | 1.02 |
| Sensata Technologies | 0.06% | -0.03 | $794,767.71 | 800,000 | Corporate Securities | Manufacturing | United States | 3.75% | Ba3 | 15-Feb-2031 | 8.12 |
| Weekley Homes LLC / Weekley Finance | 0.06% | -0.00 | $782,546.67 | 760,000 | Corporate Securities | Building & Real Estate | United States | 4.88% | Ba3 | 15-Sep-2028 | 4.74 |
| Affinity Gaming | 0.06% | 0.00 | $770,606.25 | 730,000 | Corporate Securities | Gaming | United States | 6.88% | B3 | 15-Dec-2027 | 3.90 |
| ZoomInfo Technologies LLC/ZoomInfo Finance | 0.06% | N/A | $769,353.54 | 780,000 | Corporate Securities | Information Technology | United States | 3.88% | B3 | 01-Feb-2029 | 6.63 |
| 1011778 BC ULC / New Red Finance | 0.05% | 0.00 | $752,502.88 | 690,000 | Corporate Securities | Restaurants | Canada | 5.75% | Ba2 | 15-Apr-2025 | 0.98 |
| Alcoa Nederland Holding BV | 0.05% | 0.00 | $744,480.00 | 720,000 | Corporate Securities | Metals & Mining | United States | 6.75% | Ba1 | 30-Sep-2024 | 0.00 |
| Realogy Group LLC / Realogy Co-Issuer | 0.05% | 0.00 | $743,007.48 | 670,000 | Corporate Securities | Building & Real Estate | United States | 7.63% | B2 | 15-Jun-2025 | 1.12 |
| Mattel | 0.05% | N/A | $737,687.50 | 660,000 | Corporate Securities | Consumer Products | United States | 5.45% | B1 | 01-Nov-2041 | 12.32 |
| Boxer Parent | 0.05% | 0.00 | $732,312.90 | 660,000 | Corporate Securities | Information Technology | United States | 7.13% | B2 | 02-Oct-2025 | 1.11 |
| Tenneco | 0.05% | -0.00 | $716,922.89 | 590,000 | Corporate Securities | Automotive | United States | 5.00% | Ba3 | 15-Jul-2024 | 1.24 |
| Expedia | 0.05% | 0.00 | $697,451.22 | 625,000 | Corporate Securities | Information Technology | United States | 4.63% | Baa3 | 01-Aug-2027 | 5.30 |
| PetSmart Inc / PetSmart Finance | 0.05% | N/A | $693,707.82 | 675,000 | Corporate Securities | Retail | United States | 4.75% | B1 | 15-Feb-2028 | 4.28 |
| LBM Acquisition | 0.05% | 0.00 | $687,181.42 | 655,000 | Corporate Securities | Building Products | United States | 6.25% | Caa2 | 15-Jan-2029 | 4.03 |
| Delta Air Lines Inc / SkyMiles IP | 0.05% | 0.00 | $682,671.65 | 635,000 | Corporate Securities | Airlines | United States | 4.50% | Baa1 | 20-Oct-2025 | 2.93 |
| Rent-A-Center Inc/TX | 0.05% | N/A | $676,828.51 | 635,000 | Corporate Securities | Retail | United States | 6.38% | B2 | 15-Feb-2029 | 4.14 |
| Hillenbrand | 0.05% | N/A | $648,652.08 | 665,000 | Corporate Securities | Manufacturing | United States | 3.75% | Ba1 | 01-Mar-2031 | 8.15 |
| EQT | 0.05% | 0.00 | $639,412.50 | 590,000 | Corporate Securities | Energy | United States | 5.00% | Ba2 | 15-Jan-2029 | 6.01 |
| IPD 3 BV | 0.05% | -0.00 | $637,635.65 | 515,000 | Corporate Securities | Services | Netherlands | 5.50% | B3 | 01-Dec-2025 | 3.16 |
| Beacon Roofing Supply | 0.05% | N/A | $632,647.78 | 610,000 | Corporate Securities | Building Products | United States | 4.88% | Caa1 | 01-Nov-2025 | 0.55 |
| Outfront Media Capital LLC / Outfront Media Capital | 0.05% | N/A | $631,962.50 | 650,000 | Corporate Securities | Broadcasting | United States | 4.25% | B2 | 15-Jan-2029 | 6.46 |
| Jaguar Holding Co Ii / Ppd Development | 0.04% | 0.00 | $596,215.15 | 565,000 | Corporate Securities | Healthcare | United States | 4.63% | B2 | 15-Jun-2025 | 1.14 |
| Hilton Worldwide Finance LLC / Hilton Worldwide Finance | 0.04% | 0.00 | $585,904.00 | 550,000 | Corporate Securities | Lodging | United States | 4.88% | Ba2 | 01-Apr-2027 | 0.96 |
| Pattern Energy Operations LP / Pattern Energy Operations | 0.04% | -0.00 | $584,415.63 | 575,000 | Corporate Securities | Utilities | United States | 4.50% | Ba3 | 15-Aug-2028 | 4.70 |
| Pactiv | 0.04% | 0.00 | $578,206.36 | 485,000 | Corporate Securities | Container | United States | 8.38% | Caa1 | 15-Apr-2027 | 4.66 |
| Jaguar Holding Co Ii / Ppd Development | 0.04% | 0.00 | $568,875.00 | 540,000 | Corporate Securities | Healthcare | United States | 5.00% | B2 | 15-Jun-2028 | 3.72 |
| Shea Homes LP / Shea Homes Funding | 0.04% | 0.00 | $566,030.21 | 550,000 | Corporate Securities | Building & Real Estate | United States | 4.75% | B1 | 01-Apr-2029 | 5.17 |
| CP Atlas Buyer | 0.04% | 0.00 | $565,648.13 | 525,000 | Corporate Securities | Building Products | United States | 7.00% | Caa2 | 01-Dec-2028 | 3.86 |
| iHeartCommunications | 0.04% | -0.04 | $534,767.13 | 520,000 | Corporate Securities | Broadcasting | United States | 5.25% | B1 | 15-Aug-2027 | 3.04 |
| Endeavor Energy Resources LP / EER Finance | 0.04% | -0.00 | $515,062.13 | 480,000 | Corporate Securities | Energy | United States | 6.63% | Ba3 | 15-Jul-2025 | 1.21 |
| Real Hero Merger Sub 2 | 0.04% | N/A | $484,681.77 | 465,000 | Corporate Securities | Automotive | United States | 6.25% | Caa2 | 01-Feb-2029 | 4.09 |
| CD&R Smokey Buyer | 0.03% | 0.00 | $478,720.00 | 440,000 | Corporate Securities | Consumer Products | United States | 6.75% | B2 | 15-Jul-2025 | 1.21 |
| Hillenbrand | 0.03% | 0.00 | $456,248.33 | 420,000 | Corporate Securities | Manufacturing | United States | 5.75% | Ba1 | 15-Jun-2025 | 1.14 |
| EQT | 0.03% | 0.00 | $452,010.49 | 390,000 | Corporate Securities | Energy | United States | 7.63% | Ba2 | 01-Feb-2025 | 3.28 |
| Boston Scientific | 0.03% | -0.12 | $436,396.06 | 4,031 | Process Industries | Healthcare | United States | 5.50% | NR | 01-Jun-2023 | 2.03 |
| Occidental Petroleum | 0.03% | 0.00 | $418,709.33 | 380,000 | Corporate Securities | Energy | United States | 6.45% | Ba2 | 15-Sep-2036 | 9.99 |
| Bausch Health | 0.03% | 0.02 | $402,035.74 | 365,000 | Corporate Securities | Healthcare | United States | 7.00% | B3 | 15-Jan-2028 | 1.65 |
| Trivium Packaging Finance BV | 0.03% | -0.00 | $392,364.00 | 360,000 | Corporate Securities | Container | Netherlands | 8.50% | Caa2 | 15-Aug-2027 | 1.27 |
| Sprint | 0.03% | N/A | $383,017.78 | 320,000 | Corporate Securities | Wireless Communications | United States | 7.63% | B1 | 15-Feb-2025 | 3.20 |
| Clarios Global Lp / Clarios Us Finance | 0.03% | 0.00 | $379,920.63 | 350,000 | Corporate Securities | Automotive | United States | 6.25% | B1 | 15-May-2026 | 1.05 |
| Mercer International | 0.03% | N/A | $353,221.28 | 340,000 | Corporate Securities | Forest Products | United States | 5.50% | Ba3 | 15-Jan-2026 | 0.07 |
| OneMain Finance | 0.03% | N/A | $351,884.72 | 325,000 | Corporate Securities | Financial | United States | 6.13% | Ba3 | 15-Mar-2024 | 2.27 |
| Nextera Energy Operating Partners | 0.02% | N/A | $334,371.89 | 316,000 | Corporate Securities | Utilities | United States | 4.25% | Ba1 | 15-Sep-2024 | 3.06 |
| Acadia Healthcare | 0.02% | N/A | $333,331.25 | 315,000 | Corporate Securities | Healthcare | United States | 5.00% | B1 | 15-Apr-2029 | 3.94 |
| L Brands | 0.02% | N/A | $316,183.12 | 275,000 | Corporate Securities | Retail | United States | 6.69% | B2 | 15-Jan-2027 | 4.79 |
| Hess | 0.02% | N/A | $306,876.02 | 230,000 | Corporate Securities | Energy | United States | 7.88% | Ba1 | 01-Oct-2029 | 6.53 |
| Outfront Media Capital LLC / Outfront Media Capital | 0.02% | N/A | $290,152.48 | 285,000 | Corporate Securities | Broadcasting | United States | 5.00% | B2 | 15-Aug-2027 | 3.05 |
| Dana Financing Luxembourg Sarl | 0.02% | N/A | $222,228.12 | 210,000 | Corporate Securities | Automotive | United States | 5.75% | B2 | 15-Apr-2025 | 0.07 |
| Hughes Satellite Systems | 0.01% | N/A | $202,205.52 | 195,000 | Corporate Securities | Satellites | United States | 7.63% | B2 | 15-Jun-2021 | 0.19 |
| Apache | 0.01% | N/A | $138,577.08 | 125,000 | Corporate Securities | Exploration & Production | United States | 6.00% | Ba1 | 15-Jan-2037 | 10.34 |
| Summit Midstream Partners | 0.01% | N/A | $121,206.40 | 196,000 | Corporate Securities | Energy | United States | 9.50% | Caa3 | 15-Dec-2169 | 1.23 |
| Ford Motor | 0.01% | N/A | $100,913.08 | 70,000 | Corporate Securities | Automotive | United States | 9.63% | Ba2 | 22-Apr-2030 | 6.25 |
| Hillenbrand | 0.01% | N/A | $77,119.93 | 70,000 | Corporate Securities | Manufacturing | United States | 5.00% | Ba1 | 15-Sep-2026 | 4.66 |
| ANVIL CL B 2/12 WTS | 0.00% | 0.00 | $26.84 | 2,684 | Consumer Nondurables | Textiles & Apparel | United States | N/A | N/A | N/A | N/A |
N/A indicates Not Available.
Numbers may not add due to rounding and/or the exclusion of reserves and other assets.
Industry Diversification (31-Mar-2021)
| Industry Diversification | % of Fund | % of Indicative Benchmark | % Underweight/Overweight |
|---|---|---|---|
| Cable Operators | 10.36% | 4.19% | |
| Broadcasting | 5.23% | 3.08% | |
| Gaming | 5.78% | 3.77% | |
| Utilities | 5.12% | 3.43% | |
| Supermarkets | 1.92% | 0.63% | |
| Airlines | 2.69% | 1.44% | |
| Satellites | 2.13% | 0.89% | |
| Automotives | 4.43% | 3.43% | |
| Healthcare | 8.02% | 7.10% | |
| Entertainment & Leisure | 3.13% | 2.64% | |
| Restaurants | 1.33% | 0.96% | |
| Lodging | 0.99% | 0.94% | |
| Metals & Mining | 4.34% | 4.56% | |
| Building Products | 1.66% | 1.97% | |
| Container | 1.80% | 2.13% | |
| Energy | 12.40% | 12.79% | |
| REITs | 0.20% | 0.60% | |
| Food | 2.84% | 3.37% | |
| Manufacturing | 0.78% | 1.56% | |
| Transportation | 0.25% | 1.03% | |
| Wireless Communications | 1.95% | 2.81% | |
| Retail | 1.10% | 2.00% | |
| Other Telecommunications | 1.26% | 2.20% | |
| Building & Real Estate | 1.42% | 2.63% | |
| Financial | 6.60% | 7.82% | |
| Aerospace & Defense | 0.92% | 2.19% | |
| Chemicals | 2.61% | 3.89% | |
| Consumer Products | 0.57% | 2.05% | |
| Information Technology | 3.38% | 5.03% | |
| Services | 5.42% | 7.65% |
A maximum of 30 largest industries are displayed.
Numbers may not add due to rounding and/or the exclusion of reserves and other assets.
Country Diversification (31-Mar-2021)
| Country Diversification | % of Fund | % of Indicative Benchmark | % Underweight/Overweight |
|---|---|---|---|
| United States | 85.40% | 73.32% | |
| France | 2.21% | 0.73% | |
| United Kingdom | 2.77% | 1.69% | |
| Macau | 1.23% | 0.61% | |
| Netherlands | 1.33% | 0.82% | |
| Spain | 0.57% | 0.10% | |
| Panama | 0.45% | 0.28% | |
| United Arab Emirates | 0.25% | 0.16% | |
| Germany | 0.49% | 0.44% | |
| Australia | 0.43% | 0.40% | |
| Luxembourg | 0.80% | 0.78% | |
| Costa Rica | 0.00% | 0.02% | |
| Barbados | 0.00% | 0.03% | |
| El Salvador | 0.00% | 0.03% | |
| Ecuador | 0.00% | 0.03% | |
| Israel | 0.68% | 0.72% | |
| Austria | 0.00% | 0.04% | |
| Dominican Republic | 0.00% | 0.05% | |
| Denmark | 0.00% | 0.06% | |
| Cyprus | 0.00% | 0.07% | |
| Congo, Democratic Republic Of | 0.00% | 0.09% | |
| Peru | 0.31% | 0.44% | |
| Cayman Islands | 0.00% | 0.15% | |
| Italy | 0.67% | 0.83% | |
| Chile | 0.09% | 0.41% | |
| Argentina | 0.00% | 0.58% | |
| Colombia | 0.00% | 0.79% | |
| China | 0.00% | 1.17% | |
| Canada | 2.14% | 3.44% | |
| Brazil | 0.96% | 4.39% |
A maximum of 30 largest countries are displayed.
Numbers may not add due to rounding and/or the exclusion of reserves and other assets.
Currency Diversification (31-Mar-2021)
| Currency Diversification | % of Fund | % of Indicative Benchmark | % Underweight/Overweight |
|---|---|---|---|
| U.S. dollar | 99.92% | 100.00% | |
| Australian dollar | 0.00% | 0.00% | |
| Canadian dollar | 0.00% | 0.00% | |
| Dollar Bloc Subtotal | 99.92% | 100.00% |
Indicative Benchmark : J.P. Morgan Global High Yield Index
| Currency Diversification | % of Fund | % of Indicative Benchmark | % Underweight/Overweight |
|---|---|---|---|
| euro | 0.06% | 0.00% | |
| British pound sterling | 0.02% | 0.00% | |
| Norwegian krone | 0.00% | 0.00% | |
| Swedish krona | 0.00% | 0.00% | |
| Swiss franc | 0.00% | 0.00% | |
| European Bloc Subtotal | 0.08% | 0.00% |
Indicative Benchmark : J.P. Morgan Global High Yield Index
| Currency Diversification | % of Fund | % of Indicative Benchmark | % Underweight/Overweight |
|---|---|---|---|
| Hong Kong dollar | 0.00% | 0.00% | |
| Singapore dollar | 0.00% | 0.00% | |
| Far East Bloc Subtotal | 0.00% | 0.00% |
Indicative Benchmark : J.P. Morgan Global High Yield Index
Numbers may not add due to rounding and/or the exclusion of reserves and other assets.
Indicative Benchmark Data Source: JP Morgan. Information has been obtained from sources believed to be reliable but J.P. Morgan does not warrant its completeness or accuracy. The index is used with permission. The Index may not be copied, used, or distributed without J.P. Morgan’s prior written approval. Copyright © 2019, J.P. Morgan Chase & Co. All rights reserved.
Past performance is not a reliable indicator of future performance. Source for fund performance: T. Rowe Price. Fund performance is calculated using the official NAV with dividends reinvested, if any. The value of an investment and any income from it can go down as well as up. Investors may get back less than the amount invested. It will be affected by changes in the exchange rate between the base currency of the fund and the subscription currency, if different. Sales charges (up to a maximum of 5% for the A Class), taxes and other locally applied costs have not been deducted and if applicable, they will reduce the performance figures.
Daily performance data is based on the latest available NAV. Performance returns for share classes less than 1 year old (and associated benchmarks) are cumulative rather than annualised.
Please note that no management fees are charged to the S and J share classes. No administration agent fees are charged to the J class. Fee arrangements for the S and J classes are made directly with the investment manager. Please see the prospectus for further information.
The Funds are sub-funds of the T. Rowe Price Funds SICAV, a Luxembourg investment company with variable capital which is registered with Commission de Surveillance du Secteur Financier and which qualifies as an undertaking for collective investment in transferable securities (“UCITS”). Full details of the objectives, investment policies and risks are located in the prospectus which is available with the key investor information documents in English and in an official language of the jurisdictions in which the Funds are registered for public sale, together with the annual and semi-annual reports (together “Fund Documents”). Any decision to invest should be made on the basis of the Fund Documents which are available free of charge from the local representative, local information/paying agent or from authorised distributors and via www.troweprice.com.
Hedged share classes (denoted by 'h') utilise investment techniques to mitigate currency risk between the underlying investment currency(ies) of the fund and the currency of the hedged share class. The costs of doing so will be borne by the share class and there is no guarantee that such hedging will be effective.
Net Asset figure applies to all share classes.
Number of years managing the fund. In the case of co-portfolio management, the longer tenure is displayed.
The specific securities identified and described in this report do not represent all of the securities purchased, sold, or recommended for the sub-fund and no assumptions should be made that the securities identified and discussed were or will be profitable.
A full list of the currently issued Share Classes including Distributing, Hedged, and Accumulating Categories may be obtained, free of charge and upon request, from the registered office of the Company.
Mike Della Vedova is a global high yield portfolio manager in the Fixed Income Division. He is a portfolio manager for the Europe High Yield Bond Strategy and co-portfolio manager for the Global High Yield Bond Fund and Global High Income Bond Strategy. He is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd.