Shenkman Capital Floating Rate High Income Fund
|
||||||
Schedule of Investments
|
||||||
June 30, 2023 (Unaudited)
|
||||||
Principal
|
Fair
|
|||||
Amount
|
Value
|
|||||
BANK LOANS - 81.73% (j)
|
||||||
AEROSPACE & DEFENSE - 0.54%
|
||||||
KKR Apple Bidco, LLC, Senior Secured First Lien Term Loan 9.102% (1 Month SOFR USD + 4.00%, 0.500% Floor), 09/22/2028 (a)
|
$ |
635,404
|
$ |
633,021
|
||
LSF11 Trinity Bidco, Inc., Senior Secured First Lien Term Loan 9.647% (3 Month SOFR USD + 4.50%), 06/14/2030 (a)
|
400,000
|
399,500
|
||||
Spirit Aerosystems, Inc., Senior Secured First Lien Term Loan 9.545% (3 Month SOFR USD + 4.50%, 0.500% Floor), 01/15/2027 (a)
|
585,525
|
587,428
|
||||
1,619,949
|
||||||
AUTO RETAIL - 0.76%
|
||||||
CWGS Group, LLC
|
||||||
Senior Secured First Lien Term Loan 7.658% (1 Month LIBOR USD + 2.50%, 0.750% Floor), 06/05/2028 (a)
|
687,528
|
657,965
|
||||
Senior Secured First Lien Term Loan 7.717% (1 Month SOFR USD + 2.50%, 0.750% Floor), 06/05/2028 (a)
|
51,737
|
49,512
|
||||
LS Group Opco Acquisition, LLC, Senior Secured First Lien Term Loan 0.00% (1 Month SOFR USD + 3.25%, 0.750% Floor), 11/02/2027 (a)
|
994,500
|
990,358
|
||||
Mavis Tire Express Services Topco Corp., Senior Secured First Lien Term Loan 9.217% (1 Month SOFR USD + 4.00%, 0.750% Floor), 05/04/2028 (a)
|
593,531
|
589,266
|
||||
2,287,101
|
||||||
AUTOMOTIVE - 0.36%
|
||||||
American Axle & Manufacturing, Inc.
|
||||||
Senior Secured First Lien Term Loan 8.436% (6 Month SOFR USD + 3.50%, 0.500% Floor), 12/13/2029 (a)
|
151,408
|
151,218
|
||||
Senior Secured First Lien Term Loan 8.504% (3 Month SOFR USD + 3.50%, 0.500% Floor), 12/13/2029 (a)
|
151,407
|
151,218
|
||||
Senior Secured First Lien Term Loan 8.746% (1 Month SOFR USD + 3.50%, 0.500% Floor), 12/13/2029 (a)
|
200,520
|
200,270
|
||||
Autokiniton U.S. Holdings, Inc., Senior Secured First Lien Term Loan 9.114% (1 Month SOFR USD + 4.50%, 0.500% Floor), 04/06/2028 (a)
|
300,456
|
299,217
|
||||
Phinia, Inc., Senior Secured First Lien Term Loan 8.832%, 06/01/2030 (a)(g)
|
269,208
|
269,208
|
||||
1,071,131
|
||||||
BUILDING PRODUCTS - 2.61%
|
||||||
Cornerstone Building Brands, Inc., Senior Secured First Lien Term Loan 8.497% (1 Month SOFR USD + 3.25%, 0.500% Floor), 04/12/2028 (a)
|
748,487
|
719,486
|
||||
CPG International, LLC, Senior Secured First Lien Term Loan 7.702% (1 Month SOFR USD + 2.50%, 0.500% Floor), 04/30/2029 (a)
|
1,249,558
|
1,246,303
|
||||
Fortrea Holdings, Inc., Senior Secured First Lien Term Loan 8.881%, 06/28/2030 (a)(g)
|
963,000
|
964,445
|
||||
Griffon Corp., Senior Secured First Lien Term Loan 7.639% (3 Month SOFR USD + 2.25%, 0.500% Floor), 01/24/2029 (a)
|
405,314
|
404,639
|
||||
QUIKRETE Holdings, Inc.
|
||||||
Senior Secured First Lien Term Loan 7.842% (1 Month SOFR USD + 2.625%), 02/01/2027 (a)
|
1,377,405
|
1,376,475
|
||||
Senior Secured First Lien Term Loan 8.217% (1 Month SOFR USD + 3.00%), 03/18/2029 (a)
|
1,130,688
|
1,133,203
|
||||
SRS Distribution, Inc., Senior Secured First Lien Term Loan 8.693% (1 Month LIBOR USD + 3.50%, 0.500% Floor), 06/02/2028 (a)
|
773,033
|
752,799
|
||||
TAMKO Building Products, LLC
|
||||||
Senior Secured First Lien Term Loan 7.965% (6 Month SOFR USD + 3.00%), 05/29/2026 (a)
|
79,273
|
78,877
|
||||
Senior Secured First Lien Term Loan 8.127% (6 Month SOFR USD + 3.00%), 05/29/2026 (a)
|
176,330
|
175,447
|
||||
Senior Secured First Lien Term Loan 8.398% (6 Month SOFR USD + 3.00%), 05/29/2026 (a)
|
86,705
|
86,272
|
||||
VC GB Holdings I Corp., Senior Secured First Lien Term Loan 8.476% (3 Month LIBOR USD + 3.00%, 0.500% Floor), 07/21/2028 (a)
|
653,055
|
636,183
|
||||
Windsor Holdings III, LLC, Senior Secured First Lien Term Loan 9.631%, 06/21/2030 (a)(g)
|
256,000
|
251,808
|
||||
7,825,937
|
||||||
CHEMICALS - 3.79%
|
||||||
Axalta Coating Systems U.S. Holdings, Inc., Senior Secured First Lien Term Loan 8.242% (3 Month SOFR USD + 3.00%, 0.500% Floor), 12/20/2029 (a)
|
842,431
|
845,261
|
||||
Discovery Purchaser Corp., Senior Secured First Lien Term Loan 9.617% (3 Month SOFR USD + 4.375%, 0.500% Floor), 10/04/2029 (a)
|
628,840
|
603,686
|
||||
Ineos U.S. Finance, LLC
|
||||||
Senior Secured First Lien Term Loan 7.702% (1 Month SOFR USD + 2.50%, 0.500% Floor), 11/06/2028 (a)
|
711,000
|
702,493
|
||||
Senior Secured First Lien Term Loan 8.702% (1 Month SOFR USD + 3.50%), 02/19/2030 (a)
|
1,010,000
|
1,005,581
|
||||
Ineos U.S. Petrochem, LLC
|
||||||
Senior Secured First Lien Term Loan 7.967% (1 Month SOFR USD + 2.75%, 0.500% Floor), 01/29/2026 (a)
|
490,000
|
489,571
|
||||
Senior Secured First Lien Term Loan 8.952% (1 Month SOFR USD + 3.75%), 03/14/2030 (a)
|
239,000
|
239,000
|
||||
Koppers, Inc.
|
||||||
Senior Secured First Lien Term Loan 9.16% (Daily SOFR USD + 4.00%, 0.500% Floor), 04/10/2030 (a)
|
117,133
|
117,426
|
||||
Senior Secured First Lien Term Loan 9.25% (1 Month SOFR USD + 4.00%, 0.500% Floor), 04/10/2030 (a)
|
116,546
|
116,838
|
||||
LSF11 A5 Holdco, LLC
|
||||||
Senior Secured First Lien Term Loan 9.452% (1 Month SOFR USD + 4.25%, 0.500% Floor), 10/13/2028 (a)
|
325,000
|
323,105
|
||||
Senior Secured First Lien Term Loan 8.717% (1 Month SOFR USD + 3.50%, 0.500% Floor), 10/16/2028 (a)
|
454,254
|
448,505
|
||||
Lummus Technology Holdings V, LLC, Senior Secured First Lien Term Loan 8.717% (1 Month SOFR USD + 3.50%), 06/30/2027 (a)
|
469,014
|
465,665
|
||||
Nouryon Finance B.V.
|
||||||
Senior Secured First Lien Term Loan 7.526%, 10/01/2025 (a)(g)
|
101,592
|
101,707
|
||||
Senior Secured First Lien Term Loan 8.99% (3 Month SOFR USD + 4.00%), 04/03/2028 (a)
|
309,000
|
307,583
|
||||
Olympus Water U.S. Holding Corp., Senior Secured First Lien Term Loan 10.066%, 11/09/2028 (a)(g)
|
285,000
|
276,272
|
||||
Orion Engineered Carbons GmbH, Senior Secured First Lien Term Loan 7.309% (3 Month LIBOR USD + 2.15%, 0.500% Floor), 09/22/2028 (a)
|
282,960
|
279,954
|
||||
PMHC II, Inc., Senior Secured First Lien Term Loan 9.304% (3 Month SOFR USD + 4.25%, 0.500% Floor), 04/23/2029 (a)
|
1,815,164
|
1,605,178
|
||||
Polar U.S. Borrower, LLC
|
||||||
Senior Secured First Lien Term Loan 9.721% (6 Month SOFR USD + 4.75%), 10/15/2025 (a)
|
259,516
|
205,882
|
||||
Senior Secured First Lien Term Loan 9.827% (3 Month SOFR USD + 4.75%), 10/15/2025 (a)
|
221,794
|
175,956
|
||||
PQ Corp., Senior Secured First Lien Term Loan 7.645% (3 Month SOFR USD + 2.50%, 0.500% Floor), 06/09/2028 (a)
|
351,820
|
350,803
|
||||
PQ Performance Chemicals, Senior Secured First Lien Term Loan 8.537% (1 Month SOFR USD + 3.25%, 0.750% Floor), 08/02/2028 (a)
|
521,065
|
518,134
|
||||
SCIH Salt Holdings, Inc., Senior Secured First Lien Term Loan 9.193% (1 Month LIBOR USD + 4.00%, 0.750% Floor), 03/16/2027 (a)
|
1,046,709
|
1,032,888
|
||||
Tronox Finance, LLC, Senior Secured First Lien Term Loan 7.443% (1 Month EURIBOR + 2.25%), 03/10/2028 (a)
|
416,308
|
414,538
|
||||
Vantage Specialty Chemicals, Inc., Senior Secured First Lien Term Loan 9.897% (1 Month SOFR USD + 4.75%, 0.500% Floor), 10/26/2026 (a)
|
767,723
|
747,378
|
||||
11,373,404
|
||||||
COMMERCIAL SERVICES - 5.48%
|
||||||
AlixPartners, LLP, Senior Secured First Lien Term Loan 7.717% (1 Month SOFR USD + 2.50%, 0.500% Floor), 02/04/2028 (a)
|
1,534,995
|
1,533,651
|
||||
Allied Universal Holdco, LLC, Senior Secured First Lien Term Loan 8.952% (1 Month SOFR USD + 3.75%, 0.500% Floor), 05/12/2028 (a)
|
1,237,845
|
1,205,525
|
||||
American Auto Auction Group, LLC, Senior Secured First Lien Term Loan 10.242% (3 Month SOFR USD + 5.00%, 0.750% Floor), 12/30/2027 (a)
|
485,605
|
454,041
|
||||
Apex Group Treasury, LLC, Senior Secured First Lien Term Loan 9.074% (3 Month LIBOR USD + 3.75%, 0.500% Floor), 07/27/2028 (a)
|
740,265
|
731,937
|
||||
Aramark Services, Inc., Senior Secured First Lien Term Loan 7.717% (1 Month SOFR USD + 2.50%), 06/14/2030 (a)
|
459,149
|
459,723
|
||||
Camelot U.S. Acquisition 1 Co.
|
||||||
Senior Secured First Lien Term Loan 8.217% (1 Month SOFR USD + 3.00%), 10/30/2026 (a)
|
657,535
|
657,371
|
||||
Senior Secured First Lien Term Loan 8.217% (1 Month SOFR USD + 3.00%, 1.000% Floor), 10/30/2026 (a)
|
1,837,244
|
1,836,867
|
||||
Corelogic, Inc., Senior Secured First Lien Term Loan 8.75% (1 Month LIBOR USD + 3.50%, 0.500% Floor), 06/02/2028 (a)
|
497,641
|
450,490
|
||||
Deerfield Dakota Holding, LLC, Senior Secured First Lien Term Loan 8.992% (3 Month SOFR USD + 3.75%, 1.000% Floor), 04/09/2027 (a)
|
2,000,258
|
1,946,321
|
||||
Dun & Bradstreet Corp., Senior Secured First Lien Term Loan 8.434% (1 Month SOFR USD + 3.25%), 02/06/2026 (a)
|
1,771,209
|
1,774,972
|
||||
EAB Global, Inc.
|
||||||
Senior Secured First Lien Term Loan 8.773% (3 Month LIBOR USD + 3.50%, 0.500% Floor), 08/16/2028 (a)
|
1,254
|
1,241
|
||||
Senior Secured First Lien Term Loan 8.872% (6 Month LIBOR USD + 3.50%, 0.500% Floor), 08/16/2028 (a)
|
492,645
|
487,798
|
||||
Galaxy U.S. Opco, Inc., Senior Secured First Lien Term Loan 9.852% (1 Month SOFR USD + 4.75%, 0.500% Floor), 04/30/2029 (a)
|
354,323
|
333,949
|
||||
Garda World Security Corp., Senior Secured First Lien Term Loan 9.427% (1 Month SOFR USD + 4.25%), 10/30/2026 (a)
|
880,876
|
877,573
|
||||
Garrett Motion Sarl
|
||||||
Senior Secured First Lien Term Loan 9.73% (3 Month SOFR USD + 4.50%, 0.500% Floor), 05/01/2028 (a)
|
160,714
|
158,304
|
||||
Senior Secured First Lien Term Loan 9.73% (1 Month SOFR USD + 4.50%, 0.500% Floor), 05/01/2028 (a)
|
214,286
|
211,071
|
||||
Indy U.S. BIDCO, LLC, Senior Secured First Lien Term Loan 8.852% (1 Month SOFR USD + 3.75%), 03/06/2028 (a)
|
1,240,829
|
1,153,971
|
||||
Pre-Paid Legal Services, Inc., Senior Secured First Lien Term Loan 8.943% (1 Month LIBOR USD + 3.75%, 0.500% Floor), 12/15/2028 (a)
|
444,744
|
439,325
|
||||
Spin Holdco, Inc., Senior Secured First Lien Term Loan 9.23% (3 Month LIBOR USD + 4.00%, 0.750% Floor), 03/06/2028 (a)
|
510,666
|
440,815
|
||||
Trans Union, LLC, Senior Secured First Lien Term Loan 7.467% (1 Month SOFR USD + 2.25%, 0.500% Floor), 12/01/2028 (a)
|
1,309,582
|
1,308,011
|
||||
16,462,956
|
||||||
CONSTRUCTION & ENGINEERING - 1.79%
|
||||||
Amentum Government Services Holdings, LLC
|
||||||
Senior Secured First Lien Term Loan 9.217% (1 Month SOFR USD + 4.00%), 02/01/2027 (a)
|
928,290
|
916,687
|
||||
Senior Secured First Lien Term Loan 9.147% (1 Month SOFR USD + 4.00%, 0.500% Floor), 02/15/2029 (a)
|
678,150
|
664,587
|
||||
American Residential Services, LLC, Senior Secured First Lien Term Loan 9.003% (3 Month LIBOR USD + 3.50%, 0.750% Floor), 10/15/2027 (a)
|
662,025
|
656,232
|
||||
Api Group DE, Inc.
|
||||||
Senior Secured First Lien Term Loan 7.717% (1 Month SOFR USD + 2.50%), 10/01/2026 (a)
|
506,738
|
508,040
|
||||
Senior Secured First Lien Term Loan 7.967% (1 Month SOFR USD + 2.75%), 12/18/2028 (a)
|
499,308
|
500,828
|
||||
Centuri Group, Inc., Senior Secured First Lien Term Loan 7.717% (1 Month SOFR USD + 2.50%, 0.500% Floor), 08/28/2028 (a)
|
665,477
|
663,191
|
||||
Tecta America Corp., Senior Secured First Lien Term Loan 9.217% (1 Month SOFR USD + 4.00%, 0.750% Floor), 04/06/2028 (a)
|
907,913
|
904,514
|
||||
Tiger Acquisition, LLC, Senior Secured First Lien Term Loan 8.452% (1 Month SOFR USD + 3.25%, 0.500% Floor), 06/01/2028 (a)
|
584,588
|
574,234
|
||||
5,388,313
|
||||||
CONSUMER DISCRETIONARY - 1.78%
|
||||||
Allied Universal Holdco, LLC, Senior Secured First Lien Term Loan 9.881% (1 Month SOFR USD + 4.75%, 0.500% Floor), 05/12/2028 (a)
|
445,000
|
435,731
|
||||
Champ Acquisition Corp., Senior Secured First Lien Term Loan 10.71% (6 Month LIBOR USD + 5.50%), 12/19/2025 (a)
|
163,033
|
163,258
|
||||
Fugue Finance, LLC, Senior Secured First Lien Term Loan 9.373%, 1/31/2028 (a)(g)
|
446,263
|
445,863
|
||||
Hanesbrands, Inc., Senior Secured First Lien Term Loan 8.852% (1 Month SOFR USD + 3.75%, 0.500% Floor), 03/08/2030 (a)
|
504,735
|
507,259
|
||||
Houghton Mifflin Harcourt Co., Senior Secured First Lien Term Loan 10.452% (1 Month SOFR USD + 5.25%, 0.500% Floor), 04/09/2029 (a)
|
1,215,813
|
1,044,079
|
||||
KUEHG Corp., Senior Secured First Lien Term Loan 10.034%, 5/31/2030 (a)(g)
|
252,000
|
250,057
|
||||
Prometric Holdings, Inc., Senior Secured First Lien Term Loan 8.525% (3 Month SOFR USD + 3.00%, 1.000% Floor), 01/29/2025 (a)
|
948,826
|
888,101
|
||||
Renaissance Holding Corp., Senior Secured First Lien Term Loan 9.903% (1 Month LIBOR USD + 4.75%, 0.500% Floor), 04/05/2030 (a)
|
730,000
|
722,415
|
||||
Samsonite International S.A., Senior Secured First Lien Term Loan 7.826% (1 Month SOFR USD + 2.75%, 0.500% Floor), 06/21/2030 (a)
|
381,000
|
382,669
|
||||
Tory Burch, LLC, Senior Secured First Lien Term Loan 8.654% (1 Month LIBOR USD + 3.50%, 0.500% Floor), 04/14/2028 (a)
|
367,500
|
355,242
|
||||
WW International, Inc., Senior Secured First Lien Term Loan 8.717% (1 Month SOFR USD + 3.50%, 0.500% Floor), 04/13/2028 (a)
|
233,415
|
152,497
|
||||
5,347,171
|
||||||
CONSUMER NON-DISCRETIONARY - 0.25%
|
||||||
Kronos Acquisition Holdings, Inc., Senior Secured First Lien Term Loan 9.253% (3 Month SOFR USD + 3.75%, 0.500% Floor), 12/22/2026 (a)
|
765,375
|
747,496
|
||||
ENVIRONMENTAL SERVICES - 1.37%
|
||||||
Belfor Holdings, Inc.
|
||||||
Senior Secured First Lien Term Loan 9.217% (1 Month SOFR USD + 4.00%), 04/06/2026 (a)
|
495,170
|
495,482
|
||||
Senior Secured First Lien Term Loan 9.352% (1 Month SOFR USD + 4.25%, 0.500% Floor), 04/06/2026 (a)
|
384,030
|
384,990
|
||||
Brightview Landscapes, LLC
|
||||||
Senior Secured First Lien Term Loan 8.295% (3 Month SOFR USD + 3.25%, 0.500% Floor), 04/20/2029 (a)
|
632,500
|
624,793
|
||||
Senior Secured First Lien Term Loan 8.352% (1 Month SOFR USD + 3.25%, 0.500% Floor), 04/20/2029 (a)
|
118,910
|
117,461
|
||||
Covanta Holding Corp.
|
||||||
Senior Secured First Lien Term Loan 7.602% (1 Month SOFR USD + 2.50%, 0.500% Floor), 11/30/2028 (a)
|
610,007
|
605,605
|
||||
Senior Secured First Lien Term Loan 7.602% (1 Month SOFR USD + 2.50%, 0.500% Floor), 11/30/2028 (a)
|
46,272
|
45,938
|
||||
Senior Secured First Lien Term Loan 8.148% (1 Month SOFR USD + 3.00%, 0.500% Floor), 11/30/2028 (a)
|
413,901
|
412,802
|
||||
Senior Secured First Lien Term Loan 8.148% (1 Month SOFR USD + 3.00%, 0.500% Floor), 11/30/2028 (a)
|
31,043
|
30,960
|
||||
GFL Environmental, Inc., Senior Secured First Lien Term Loan 8.145% (3 Month SOFR USD + 3.00%, 0.500% Floor), 05/31/2027 (a)
|
167,550
|
167,884
|
||||
WIN Waste Innovations Holdings, Inc., Senior Secured First Lien Term Loan 7.967% (1 Month SOFR USD + 2.75%, 0.500% Floor), 03/24/2028 (a)
|
1,425,900
|
1,233,582
|
||||
4,119,497
|
||||||
FINANCIALS: DIVERSIFIED - 1.72%
|
||||||
Amynta Agency Borrower, Inc., Senior Secured First Lien Term Loan 10.202% (1 Month SOFR USD + 5.00%), 02/28/2028 (a)
|
329,000
|
320,777
|
||||
Avolon TLB Borrower 1 (U.S.), LLC, Senior Secured First Lien Term Loan 7.577% (1 Month SOFR USD + 2.50%), 06/22/2028 (a)
|
498,000
|
498,356
|
||||
Blackstone Mortgage Trust, Inc., Senior Secured First Lien Term Loan 7.467% (1 Month SOFR USD + 2.25%), 04/23/2026 (a)
|
563,063
|
529,560
|
||||
Castlelake Aviation One, LLC, Senior Secured First Lien Term Loan 8.004% (3 Month SOFR USD + 2.75%, 0.500% Floor), 10/22/2027 (a)
|
523,370
|
521,517
|
||||
Citco Group, Ltd., Senior Secured First Lien Term Loan 8.591% (6 Month SOFR USD + 3.50%, 0.500% Floor), 04/26/2028 (a)
|
430,745
|
431,283
|
||||
Corp. Service Co., Senior Secured First Lien Term Loan 8.452% (1 Month SOFR USD + 3.25%, 0.500% Floor), 11/02/2029 (a)
|
573,000
|
574,647
|
||||
Focus Financial Partners, LLC, Senior Secured First Lien Term Loan 8.352% (1 Month SOFR USD + 3.25%, 0.500% Floor), 06/30/2028 (a)
|
756,644
|
752,123
|
||||
Thevelia U.S., LLC, Senior Secured First Lien Term Loan 9.577%, 06/18/2029 (a)(g)
|
463,000
|
462,421
|
||||
VFH Parent, LLC, Senior Secured First Lien Term Loan 8.189% (1 Month SOFR USD + 3.00%, 0.500% Floor), 01/12/2029 (a)
|
1,064,250
|
1,062,091
|
||||
5,152,775
|
||||||
FINANCIALS: INSURANCE - 3.03%
|
||||||
Acrisure, LLC
|
||||||
Senior Secured First Lien Term Loan 10.823% (3 Month SOFR USD + 5.75%, 1.000% Floor), 02/15/2027 (a)
|
911,273
|
919,247
|
||||
Senior Secured First Lien Term Loan 9.443% (1 Month LIBOR USD + 4.25%, 0.500% Floor), 02/16/2027 (a)
|
261,025
|
256,349
|
||||
AssuredPartners, Inc.
|
||||||
Senior Secured First Lien Term Loan 8.717% (1 Month SOFR USD + 3.50%), 02/12/2027 (a)
|
633,633
|
629,606
|
||||
Senior Secured First Lien Term Loan 8.717% (1 Month SOFR USD + 3.50%, 0.500% Floor), 02/12/2027 (a)
|
357,700
|
354,720
|
||||
Asurion, LLC
|
||||||
Senior Secured First Lien Term Loan 8.538% (3 Month LIBOR USD + 3.00%), 11/04/2024 (a)
|
271,051
|
271,116
|
||||
Senior Secured First Lien Term Loan 8.788% (3 Month LIBOR USD + 3.25%), 12/23/2026 (a)
|
2,335,734
|
2,254,567
|
||||
Senior Secured First Lien Term Loan 8.788% (3 Month LIBOR USD + 3.25%), 07/30/2027 (a)
|
1,063,694
|
1,008,350
|
||||
Senior Secured Second Lien Term Loan 10.452% (1 Month SOFR USD + 5.25%), 01/31/2028 (a)
|
340,000
|
290,595
|
||||
Senior Secured Second Lien Term Loan 10.452% (1 Month SOFR USD + 5.25%), 01/19/2029 (a)
|
820,000
|
689,973
|
||||
Broadstreet Partners, Inc., Senior Secured First Lien Term Loan 9.16% (1 Month SOFR USD + 4.00%), 01/26/2029 (a)
|
316,000
|
314,815
|
||||
HUB International, Ltd., Senior Secured First Lien Term Loan 9.40%, 06/08/2030 (a)(g)
|
1,157,094
|
1,161,034
|
||||
USI, Inc., Senior Secured First Lien Term Loan 8.992% (3 Month SOFR USD + 3.75%, 0.500% Floor), 11/14/2029 (a)
|
950,647
|
950,562
|
||||
9,100,934
|
||||||
FOOD & BEVERAGE - 1.64%
|
||||||
BCPE Empire Holdings, Inc., Senior Secured First Lien Term Loan 9.832% (1 Month SOFR USD + 4.75%, 0.500% Floor), 12/11/2028 (a)
|
774,000
|
773,156
|
||||
H-Food Holdings, LLC
|
||||||
Senior Secured First Lien Term Loan 9.269% (6 Month LIBOR USD + 3.6875%), 05/23/2025 (a)
|
864,500
|
763,462
|
||||
Senior Secured First Lien Term Loan 9.581% (6 Month LIBOR USD + 4.00%), 05/23/2025 (a)
|
119,375
|
105,150
|
||||
Pegasus Bidco B.V., Senior Secured First Lien Term Loan 9.336% (3 Month SOFR USD + 4.25%, 0.500% Floor), 07/12/2029 (a)
|
986,045
|
984,812
|
||||
Triton Water Holdings, Inc., Senior Secured First Lien Term Loan 8.659% (3 Month LIBOR USD + 3.50%, 0.500% Floor), 03/31/2028 (a)
|
2,372,541
|
2,299,514
|
||||
4,926,094
|
||||||
HEALTHCARE: EQUIPMENT & SUPPLIES - 2.96%
|
||||||
athenahealth Group, Inc.
|
||||||
Senior Secured First Lien Term Delayed-Draw Term Loan 4.50%, 01/14/2027 (a)(g)(i)
|
206,413
|
199,189
|
||||
Senior Secured First Lien Term Loan 8.589% (1 Month SOFR USD + 3.50%, 0.500% Floor), 02/15/2029 (a)
|
1,676,003
|
1,617,342
|
||||
Azalea TopCo, Inc.
|
||||||
Senior Secured First Lien Term Loan 8.768% (1 Month SOFR USD + 3.50%), 07/24/2026 (a)
|
218,728
|
213,095
|
||||
Senior Secured First Lien Term Loan 8.967% (1 Month SOFR USD + 3.75%, 0.750% Floor), 07/24/2026 (a)
|
109,132
|
105,858
|
||||
Senior Secured First Lien Term Loan 9.003% (1 Month SOFR USD + 3.75%, 0.750% Floor), 07/24/2026 (a)
|
153,446
|
149,610
|
||||
Bausch & Lomb Corp., Senior Secured First Lien Term Loan 8.592% (3 Month SOFR USD + 3.25%, 0.500% Floor), 05/10/2027 (a)
|
753,390
|
732,672
|
||||
Cvet Midco 2, LP, Senior Secured First Lien Term Loan 10.242% (3 Month SOFR USD + 5.00%, 0.500% Floor), 10/15/2029 (a)
|
234,413
|
218,883
|
||||
Embecta Corp., Senior Secured First Lien Term Loan 8.337% (6 Month SOFR USD + 3.00%, 0.500% Floor), 03/30/2029 (a)
|
406,249
|
404,811
|
||||
Greenway Health, LLC, Senior Secured First Lien Term Loan 8.96% (6 Month LIBOR USD + 3.75%, 1.000% Floor), 02/16/2024 (a)
|
611,000
|
455,501
|
||||
Insulet Corp., Senior Secured First Lien Term Loan 8.467% (1 Month SOFR USD + 3.25%, 0.500% Floor), 05/04/2028 (a)
|
764,400
|
764,973
|
||||
Medline Borrower, LP, Senior Secured First Lien Term Loan 8.352% (1 Month SOFR USD + 3.25%, 0.500% Floor), 10/23/2028 (a)
|
929,118
|
919,535
|
||||
Milano Acquisition Corp., Senior Secured First Lien Term Loan 9.342% (3 Month SOFR USD + 4.00%, 0.750% Floor), 10/01/2027 (a)
|
1,549,517
|
1,528,211
|
||||
Navicure, Inc., Senior Secured First Lien Term Loan 9.217% (1 Month SOFR USD + 4.00%), 10/22/2026 (a)
|
1,567,818
|
1,565,859
|
||||
8,875,539
|
||||||
HEALTHCARE: FACILITIES - 2.64%
|
||||||
ADMI Corp.
|
||||||
Senior Secured First Lien Term Loan 8.592% (1 Month SOFR USD + 3.375%, 0.500% Floor), 12/23/2027 (a)
|
638,419
|
602,508
|
||||
Senior Secured First Lien Term Loan 8.967% (1 Month SOFR USD + 3.75%, 0.500% Floor), 12/23/2027 (a)
|
638,625
|
598,443
|
||||
CHG Healthcare Services, Inc., Senior Secured First Lien Term Loan 8.404% (1 Month LIBOR USD + 3.25%, 0.500% Floor), 09/29/2028 (a)
|
603,006
|
600,820
|
||||
Electron Bidco, Inc., Senior Secured First Lien Term Loan 8.217% (1 Month SOFR USD + 3.00%, 0.500% Floor), 11/01/2028 (a)
|
1,210,319
|
1,206,913
|
||||
Heartland Dental, LLC, Senior Secured First Lien Term Loan 10.102% (1 Month SOFR USD + 5.00%, 0.750% Floor), 05/01/2028 (a)
|
936,955
|
906,110
|
||||
Option Care Health, Inc., Senior Secured First Lien Term Loan 7.943% (1 Month LIBOR USD + 2.75%, 0.500% Floor), 10/27/2028 (a)
|
764,360
|
764,242
|
||||
Pluto Acquisition I, Inc., Senior Secured First Lien Term Loan 9.476% (3 Month LIBOR USD + 4.00%), 06/22/2026 (a)
|
1,046,409
|
860,671
|
||||
Premier Dental Services, Inc.
|
||||||
Senior Secured First Lien Delayed-Draw Term Loan 9.693% (1 Month LIBOR USD + 4.50%, 0.750% Floor), 08/18/2028 (a)
|
31,319
|
27,209
|
||||
Senior Secured First Lien Term Loan 9.693% (1 Month LIBOR USD + 4.50%, 0.750% Floor), 08/18/2028 (a)
|
306,572
|
266,336
|
||||
Sotera Health Holdings, LLC
|
||||||
Senior Secured First Lien Term Loan 8.023% (3 Month LIBOR USD + 2.75%, 0.500% Floor), 12/11/2026 (a)
|
261,000
|
257,697
|
||||
Senior Secured First Lien Term Loan 8.816% (6 Month SOFR USD + 3.75%, 0.500% Floor), 12/11/2026 (a)
|
325,000
|
325,406
|
||||
Surgery Center Holdings, Inc., Senior Secured First Lien Term Loan 8.896% (1 Month LIBOR USD + 3.75%, 0.750% Floor), 09/03/2026 (a)
|
810,000
|
809,907
|
||||
U.S. Radiology Specialists, Inc., Senior Secured First Lien Term Loan 10.452% (1 Month SOFR USD + 5.25%, 0.500% Floor), 12/15/2027 (a)
|
717,080
|
699,153
|
||||
7,925,415
|
||||||
HEALTHCARE: LIFE SCIENCES - 2.10%
|
||||||
Avantor Funding, Inc., Senior Secured First Lien Term Loan 7.452% (1 Month SOFR USD + 2.25%, 0.500% Floor), 11/08/2027 (a)
|
882,594
|
883,331
|
||||
Cambrex Corp., Senior Secured First Lien Term Loan 8.702% (1 Month SOFR USD + 3.50%, 0.750% Floor), 12/04/2026 (a)
|
2,222,187
|
2,206,909
|
||||
Curia Global, Inc., Senior Secured First Lien Term Loan 8.895% (1 Month SOFR USD + 3.75%, 0.750% Floor), 08/31/2026 (a)
|
1,638,734
|
1,416,915
|
||||
ICON Luxembourg Sarl, Senior Secured First Lien Term Loan 7.753% (3 Month SOFR USD + 2.25%, 0.500% Floor), 07/03/2028 (a)
|
935,334
|
936,503
|
||||
Parexel International, Senior Secured First Lien Term Loan 8.404% (1 Month LIBOR USD + 3.25%, 0.500% Floor), 11/15/2028 (a)
|
621,201
|
617,163
|
||||
PRA Health Sciences, Inc., Senior Secured First Lien Term Loan 7.753% (3 Month SOFR USD + 2.25%, 0.500% Floor), 07/03/2028 (a)
|
233,039
|
233,330
|
||||
6,294,151
|
||||||
HEALTHCARE: MANAGED HEALTH CARE - 0.80%
|
||||||
Verscend Holding Corp., Senior Secured First Lien Term Loan 9.217% (1 Month SOFR USD + 4.00%), 08/27/2025 (a)
|
2,391,629
|
2,393,865
|
||||
HEALTHCARE: PHARMACEUTICALS & BIOTECHNOLOGY - 0.91%
|
||||||
Jazz Pharmaceuticals, Inc., Senior Secured First Lien Term Loan 8.602% (1 Month SOFR USD + 3.50%, 0.500% Floor), 05/05/2028 (a)
|
1,551,218
|
1,550,800
|
||||
Organon & Co., Senior Secured First Lien Term Loan 8.25% (1 Month LIBOR USD + 3.00%, 0.500% Floor), 06/02/2028 (a)
|
1,173,426
|
1,174,711
|
||||
2,725,511
|
||||||
INDUSTRIAL MACHINERY - 4.68%
|
||||||
AI Aqua Merger Sub, Inc., Senior Secured First Lien Term Loan 8.896% (1 Month SOFR USD + 3.75%, 0.500% Floor), 07/31/2028 (a)
|
900,900
|
885,585
|
||||
Ali Group North America Corp., Senior Secured First Lien Term Loan 7.217% (1 Month SOFR USD + 2.00%), 07/30/2029 (a)
|
585,344
|
586,003
|
||||
ASP Blade Holdings, Inc., Senior Secured First Lien Term Loan 9.193% (1 Month LIBOR USD + 4.00%, 0.500% Floor), 10/13/2028 (a)
|
990,812
|
864,766
|
||||
AZZ, Inc.
|
||||||
Senior Secured First Lien Term Loan 9.452% (1 Month SOFR USD + 4.25%, 0.500% Floor), 05/11/2029 (a)
|
295,094
|
295,647
|
||||
Senior Secured First Lien Term Loan 9.503% (1 Month SOFR USD + 4.25%, 0.500% Floor), 05/11/2029 (a)
|
260,449
|
260,937
|
||||
Brookfield WEC Holdings, Inc., Senior Secured First Lien Term Loan 7.943% (1 Month LIBOR USD + 2.75%, 0.500% Floor), 08/01/2025 (a)
|
1,687,846
|
1,686,436
|
||||
Chart Industries, Inc., Senior Secured First Lien Term Loan 8.941% (1 Month SOFR USD + 3.75%, 0.500% Floor), 03/15/2030 (a)
|
1,945,125
|
1,945,933
|
||||
Clark Equipment Co., Senior Secured First Lien Term Loan 7.842% (3 Month SOFR USD + 2.50%, 0.500% Floor), 04/20/2029 (a)
|
445,363
|
446,129
|
||||
Columbus McKinnon Corp., Senior Secured First Lien Term Loan 8.23% (3 Month SOFR USD + 2.75%, 0.500% Floor), 05/15/2028 (a)
|
608,916
|
608,155
|
||||
Conair Holdings, LLC, Senior Secured First Lien Term Loan 9.288% (3 Month LIBOR USD + 3.75%, 0.500% Floor), 05/17/2028 (a)
|
341,715
|
323,134
|
||||
CPM Holdings, Inc., Senior Secured Second Lien Term Loan 0.00% (1 Month SOFR USD + 8.25%), 11/16/2026 (a)
|
219,444
|
218,073
|
||||
EMRLD Borrower, LP, Senior Secured First Lien Term Loan 8.264% (3 Month SOFR USD + 3.00%), 05/31/2030 (a)
|
800,177
|
801,177
|
||||
Filtration Group Corp.
|
||||||
Senior Secured First Lien Term Loan 8.717% (1 Month SOFR USD + 3.50%, 0.500% Floor), 10/20/2028 (a)
|
625,493
|
624,042
|
||||
Senior Secured First Lien Term Loan 9.462% (1 Month SOFR USD + 4.25%, 0.500% Floor), 10/23/2028 (a)
|
408,975
|
409,435
|
||||
Gates Global, LLC, Senior Secured First Lien Term Loan 8.602% (1 Month SOFR USD + 3.50%, 0.500% Floor), 11/16/2029 (a)
|
523,048
|
523,646
|
||||
Madison IAQ, LLC, Senior Secured First Lien Term Loan 8.302% (6 Month LIBOR USD + 3.25%, 0.500% Floor), 06/21/2028 (a)
|
598,780
|
587,253
|
||||
Pro Mach Group, Inc., Senior Secured First Lien Term Loan 9.154% (1 Month LIBOR USD + 4.00%, 1.000% Floor), 08/31/2028 (a)
|
972,471
|
971,361
|
||||
Roper Industrial Products Investment Co., LLC, Senior Secured First Lien Term Loan 9.398% (3 Month SOFR USD + 4.50%, 0.500% Floor), 11/22/2029 (a)
|
542,000
|
540,518
|
||||
TK Elevator Midco GMBH, Senior Secured First Lien Term Loan 8.602% (6 Month LIBOR USD + 3.50%, 0.500% Floor), 07/30/2027 (a)
|
905,726
|
899,843
|
||||
Vertiv Group Corp., Senior Secured First Lien Term Loan 7.943% (1 Month LIBOR USD + 2.75%), 03/02/2027 (a)
|
571,577
|
570,282
|
||||
14,048,355
|
||||||
LEISURE: CASINOS & GAMING - 3.63%
|
||||||
888 Acquisitions, Ltd., Senior Secured First Lien Term Loan 10.215% (6 Month SOFR USD + 5.25%, 0.500% Floor), 07/08/2028 (a)
|
163,582
|
152,295
|
||||
Aristocrat Technologies, Inc., Senior Secured First Lien Term Loan 7.592% (3 Month SOFR USD + 2.25%, 0.500% Floor), 05/24/2029 (a)
|
224,143
|
225,170
|
||||
Bally's Corp., Senior Secured First Lien Term Loan 8.396% (1 Month LIBOR USD + 3.25%, 0.500% Floor), 10/02/2028 (a)
|
417,756
|
409,069
|
||||
Caesars Entertainment, Inc., Senior Secured First Lien Term Loan 8.452% (1 Month SOFR USD + 3.25%, 0.500% Floor), 02/06/2030 (a)
|
711,218
|
712,146
|
||||
Entain Holdings (Gibraltar), Ltd.
|
||||||
Senior Secured First Lien Term Loan 7.437% (6 Month SOFR USD + 2.50%, 0.500% Floor), 03/29/2027 (a)
|
732,060
|
731,145
|
||||
Senior Secured First Lien Term Loan 8.437% (6 Month SOFR USD + 3.50%, 0.500% Floor), 10/31/2029 (a)
|
1,064,426
|
1,064,159
|
||||
Everi Holdings, Inc., Senior Secured First Lien Term Loan 7.693% (1 Month LIBOR USD + 2.50%, 0.500% Floor), 08/03/2028 (a)
|
454,538
|
454,585
|
||||
Fertitta Entertainment, LLC, Senior Secured First Lien Term Loan 9.102% (1 Month SOFR USD + 4.00%, 0.500% Floor), 01/29/2029 (a)
|
1,049,571
|
1,037,874
|
||||
Golden Entertainment, Inc., Senior Secured First Lien Term Loan 8.18% (1 Month LIBOR USD + 3.00%, 0.750% Floor), 10/21/2024 (a)
|
144,395
|
144,531
|
||||
Penn National Gaming, Inc., Senior Secured First Lien Term Loan 7.952% (1 Month SOFR USD + 2.75%, 0.500% Floor), 05/03/2029 (a)
|
1,498,464
|
1,495,496
|
||||
Scientific Games International, Inc., Senior Secured First Lien Term Loan 8.248% (1 Month SOFR USD + 3.00%, 0.500% Floor), 04/16/2029 (a)
|
859,320
|
859,522
|
||||
Stars Group Holdings B.V.
|
||||||
Senior Secured First Lien Term Loan 7.753% (3 Month LIBOR USD + 2.25%), 07/21/2026 (a)
|
3,117,348
|
3,120,870
|
||||
Senior Secured First Lien Term Loan 8.753% (3 Month SOFR USD + 3.25%, 0.500% Floor), 07/21/2028 (a)
|
506,175
|
507,699
|
||||
10,914,561
|
||||||
LEISURE: HOTELS - 1.98%
|
||||||
Alterra Mountain Co., Senior Secured First Lien Term Loan 8.693% (1 Month LIBOR USD + 3.50%, 0.500% Floor), 08/17/2028 (a)
|
1,800,310
|
1,799,753
|
||||
Carnival Corp., Senior Secured First Lien Term Loan 8.467% (1 Month SOFR USD + 3.25%, 0.750% Floor), 10/18/2028 (a)
|
483,635
|
480,208
|
||||
Herschend Entertainment Co., LLC, Senior Secured First Lien Term Loan 8.967% (1 Month SOFR USD + 3.75%, 0.500% Floor), 08/28/2028 (a)
|
1,182,689
|
1,187,614
|
||||
Hilton Grand Vacations Borrower, LLC, Senior Secured First Lien Term Loan 8.102% (1 Month SOFR USD + 3.00%, 0.500% Floor), 08/02/2028 (a)
|
436,230
|
435,491
|
||||
Lakeland Tours, LLC, Senior Unsecured First Lien Term Loan 13.25% PIK, 09/27/2027
|
312,403
|
249,923
|
||||
RHP Hotel Properties, LP, Senior Secured First Lien Term Loan 7.852% (1 Month SOFR USD + 2.75%), 05/20/2030 (a)
|
635,408
|
635,738
|
||||
United PF Holdings, LLC, Senior Secured First Lien Term Loan 9.159% (3 Month LIBOR USD + 4.00%), 12/30/2026 (a)
|
1,033,647
|
783,504
|
||||
Wyndham Hotels & Resorts, Inc., Senior Secured First Lien Term Loan 7.452% (1 Month SOFR USD + 2.25%), 05/24/2030 (a)
|
377,000
|
377,639
|
||||
5,949,870
|
||||||
LEISURE: RESTAURANTS - 1.51%
|
||||||
Dave & Buster's, Inc.
|
||||||
Senior Secured First Lien Term Loan 8.839%, 06/29/2029 (a)(g)
|
340,316
|
339,891
|
||||
Senior Secured First Lien Term Loan 10.313% (1 Month SOFR USD + 5.00%, 0.500% Floor), 06/29/2029 (a)
|
622,577
|
623,747
|
||||
IRB Holding Corp., Senior Secured First Lien Term Loan 8.202% (1 Month SOFR USD + 3.00%, 0.750% Floor), 12/15/2027 (a)
|
1,565,598
|
1,556,791
|
||||
Tacala, LLC, Senior Secured First Lien Term Loan 8.654% (1 Month LIBOR USD + 3.50%, 0.750% Floor), 02/05/2027 (a)
|
1,126,779
|
1,110,728
|
||||
Whatabrands, LLC, Senior Secured First Lien Term Loan 8.467% (1 Month SOFR USD + 3.25%, 0.500% Floor), 08/03/2028 (a)
|
897,335
|
893,198
|
||||
4,524,355
|
||||||
MEDIA: BROADCASTING - 1.48%
|
||||||
EW Scripps Co., Senior Secured First Lien Term Loan 7.779% (1 Month SOFR USD + 2.5625%, 0.750% Floor), 05/01/2026 (a)
|
860,436
|
846,453
|
||||
Gray Television, Inc., Senior Secured First Lien Term Loan 8.275% (1 Month SOFR USD + 3.00%), 12/01/2028 (a)
|
751,281
|
735,493
|
||||
Hubbard Radio, LLC, Senior Secured First Lien Term Loan 9.41% (1 Month LIBOR USD + 4.25%, 1.000% Floor), 03/28/2025 (a)
|
465,601
|
414,385
|
||||
iHeartCommunications, Inc., Senior Secured First Lien Term Loan 8.217% (1 Month SOFR USD + 3.00%), 05/01/2026 (a)
|
495,000
|
430,002
|
||||
Nexstar Broadcasting, Inc., Senior Secured First Lien Term Loan 7.717% (1 Month SOFR USD + 2.50%), 09/18/2026 (a)
|
700,890
|
701,012
|
||||
Sinclair Television Group, Inc., Senior Secured First Lien Term Loan 7.717% (1 Month SOFR USD + 2.50%), 09/30/2026 (a)
|
500,625
|
446,808
|
||||
Univision Communications, Inc.
|
||||||
Senior Secured First Lien Term Loan 7.943% (1 Month LIBOR USD + 2.75%, 1.000% Floor), 03/15/2024 (a)
|
107,264
|
107,590
|
||||
Senior Secured First Lien Term Loan 8.275%, 03/13/2026 (a)(g)
|
253,354
|
251,589
|
||||
Senior Secured First Lien Term Loan 9.492% (3 Month SOFR USD + 4.25%, 0.500% Floor), 06/24/2029 (a)
|
517,770
|
517,553
|
||||
4,450,885
|
||||||
MEDIA: CABLE & SATELLITE - 3.09%
|
||||||
Connect U.S. Finco, LLC, Senior Secured First Lien Term Loan 8.70% (1 Month LIBOR USD + 3.50%, 1.000% Floor), 12/11/2026 (a)
|
1,471,479
|
1,472,399
|
||||
Coral-U.S. Co-Borrower, LLC, Senior Secured First Lien Term Loan 7.443% (1 Month LIBOR USD + 2.25%), 01/31/2028 (a)
|
585,000
|
577,834
|
||||
CSC Holdings, LLC, Senior Secured First Lien Term Loan 9.647% (1 Month SOFR USD + 4.50%), 01/18/2028 (a)
|
324,188
|
299,468
|
||||
DIRECTV Financing, LLC, Senior Secured First Lien Term Loan 10.217% (1 Month SOFR USD + 5.00%, 0.750% Floor), 08/02/2027 (a)
|
1,349,414
|
1,322,237
|
||||
Iridium Satellite, LLC, Senior Secured First Lien Term Loan 7.702% (1 Month SOFR USD + 2.50%, 0.750% Floor), 11/04/2026 (a)
|
546,627
|
547,504
|
||||
Radiate Holdco, LLC, Senior Secured First Lien Term Loan 8.477% (1 Month SOFR USD + 3.25%, 0.750% Floor), 09/25/2026 (a)
|
960,940
|
804,427
|
||||
Telenet Financing USD, LLC, Senior Secured First Lien Term Loan 7.193% (1 Month LIBOR USD + 2.00%), 04/28/2028 (a)
|
1,330,000
|
1,308,627
|
||||
Telesat Canada, Senior Secured First Lien Term Loan 8.03% (3 Month LIBOR USD + 2.75%), 12/07/2026 (a)
|
517,907
|
321,038
|
||||
Viasat, Inc., Senior Secured First Lien Term Loan 9.602% (1 Month SOFR USD + 4.50%, 0.500% Floor), 03/02/2029 (a)
|
309,219
|
300,136
|
||||
Virgin Media Bristol, LLC, Senior Secured First Lien Term Loan 7.693% (1 Month LIBOR USD + 2.50%), 01/31/2028 (a)
|
630,000
|
625,552
|
||||
WideOpenWest Finance, LLC, Senior Secured First Lien Term Loan 8.242% (3 Month SOFR USD + 3.00%, 0.500% Floor), 12/20/2028 (a)
|
733,825
|
726,986
|
||||
Xplornet Communications, Inc., Senior Secured First Lien Term Loan 9.217% (1 Month SOFR USD + 4.00%, 0.500% Floor), 10/02/2028 (a)
|
1,191,288
|
976,981
|
||||
9,283,189
|
||||||
MEDIA: DIVERSIFIED - 1.27%
|
||||||
ABG Intermediate Holdings 2, LLC
|
||||||
Senior Securited First Lien Delayed-Draw Term Loan 8.322%, 12/21/2028 (a)(g)(i)
|
138,025
|
137,904
|
||||
Senior Secured First Lien Term Loan 9.202% (1 Month SOFR USD + 4.00%), 12/21/2028 (a)
|
420,975
|
420,607
|
||||
Arches Buyer, Inc., Senior Secured First Lien Term Loan 8.503% (1 Month SOFR USD + 3.25%, 0.500% Floor), 12/06/2027 (a)
|
1,311,443
|
1,268,002
|
||||
Buzz Finco, LLC, Senior Secured First Lien Term Loan 7.952% (1 Month SOFR USD + 2.75%), 01/29/2027 (a)
|
609,525
|
608,699
|
||||
Dotdash Meredith, Inc., Senior Secured First Lien Term Loan 9.26% (1 Month SOFR USD + 4.00%, 0.500% Floor), 12/01/2028 (a)
|
527,848
|
482,981
|
||||
Getty Images, Inc.
|
||||||
Senior Secured First Lien Term Loan 9.753% (1 Month SOFR USD + 4.50%), 02/19/2026 (a)
|
26,623
|
26,657
|
||||
Senior Secured First Lien Term Loan 9.842% (3 Month SOFR USD + 4.50%), 02/19/2026 (a)
|
854,874
|
855,941
|
||||
3,800,791
|
||||||
MEDIA: ENTERTAINMENT - 3.36%
|
||||||
Cirque du Soleil Holding U.S.A. Newco, Inc., Senior Secured First Lien Term Loan 9.492% (3 Month SOFR USD + 4.25%, 0.500% Floor), 03/08/2030 (a)
|
1,732,658
|
1,723,458
|
||||
Creative Artists Agency, LLC, Senior Secured First Lien Term Loan 8.602% (1 Month SOFR USD + 3.50%), 11/27/2028 (a)
|
1,233,908
|
1,232,828
|
||||
Crown Finance U.S., Inc.
|
||||||
Senior Secured First Lien Term Loan 15.191% (1 Month SOFR USD + 10.00%, 1.000% Floor), 09/07/2023 (a)
|
673,904
|
682,048
|
||||
Senior Secured First Lien Term Loan 15.238% (1 Month SOFR USD + 10.00%, 1.000% Floor), 09/07/2023 (a)
|
56,631
|
57,315
|
||||
Delta 2 (Lux) Sarl, Senior Secured First Lien Term Loan 8.102% (1 Month SOFR USD + 3.00%, 0.500% Floor), 01/15/2030 (a)
|
850,000
|
851,169
|
||||
Hoya Midco, LLC, Senior Secured First Lien Term Loan 8.295% (3 Month SOFR USD + 3.25%, 0.500% Floor), 01/26/2029 (a)
|
558,834
|
555,106
|
||||
Nascar Holdings, LLC, Senior Secured First Lien Term Loan 7.717% (1 Month SOFR USD + 2.50%), 10/19/2026 (a)
|
338,679
|
339,553
|
||||
Playtika Holding Corp., Senior Secured First Lien Term Loan 7.943% (1 Month LIBOR USD + 2.75%), 03/13/2028 (a)
|
1,626,916
|
1,623,264
|
||||
Pug, LLC, Senior Secured First Lien Term Loan 8.717% (1 Month LIBOR USD + 3.50%), 02/12/2027 (a)
|
907,100
|
811,428
|
||||
UFC Holdings, LLC, Senior Secured First Lien Term Loan 8.05% (3 Month LIBOR USD + 2.75%, 0.750% Floor), 04/29/2026 (a)
|
737,784
|
737,832
|
||||
William Morris Endeavor Entertainment, LLC
|
||||||
Senior Secured First Lien Term Loan 7.91% (1 Month LIBOR USD + 2.75%), 05/16/2025 (a)
|
361,622
|
361,369
|
||||
Senior Secured First Lien Term Loan 7.95% (1 Month LIBOR USD + 2.75%), 05/16/2025 (a)
|
612,797
|
612,368
|
||||
WMG Acquisition Corp., Senior Secured First Lien Term Loan 7.327% (1 Month LIBOR USD + 2.125%), 01/20/2028 (a)
|
498,077
|
497,345
|
||||
10,085,083
|
||||||
METALS & MINING - 0.40%
|
||||||
Atkore International, Inc., Senior Secured First Lien Term Loan 7.293% (6 Month SOFR USD + 2.00%, 0.500% Floor), 05/26/2028 (a)
|
386,988
|
386,988
|
||||
Grinding Media, Inc., Senior Secured First Lien Term Loan 9.199% (3 Month SOFR USD + 4.00%, 0.750% Floor), 10/12/2028 (a)
|
821,370
|
800,839
|
||||
1,187,827
|
||||||
MIDSTREAM: STORAGE & TRANSPORT - 1.83%
|
||||||
Buckeye Partners, LP, Senior Secured First Lien Term Loan 7.452% (1 Month SOFR USD + 2.25%), 11/02/2026 (a)
|
672,543
|
668,830
|
||||
ITT Holdings, LLC, Senior Secured First Lien Term Loan 7.967% (1 Month SOFR USD + 2.75%, 0.500% Floor), 07/10/2028 (a)
|
569,850
|
566,288
|
||||
Northriver Midstream Finance, LP, Senior Secured First Lien Term Loan 8.427% (3 Month LIBOR USD + 3.25%), 10/01/2025 (a)
|
719,138
|
719,138
|
||||
Oryx Midstream Services Permian Basin, LLC, Senior Secured First Lien Term Loan 8.539% (1 Month SOFR USD + 3.25%, 0.500% Floor), 10/05/2028 (a)
|
1,507,085
|
1,506,715
|
||||
TransMontaigne Operating Co., LP
|
||||||
Senior Secured First Lien Term Loan 8.654% (1 Month LIBOR USD + 3.50%, 0.500% Floor), 11/17/2028 (a)
|
510,491
|
503,702
|
||||
Senior Secured First Lien Term Loan 8.704% (1 Month SOFR USD + 3.50%, 0.500% Floor), 11/17/2028 (a)
|
510,491
|
503,701
|
||||
Traverse Midstream Partners, LLC, Senior Secured First Lien Term Loan 8.937% (1 Month SOFR USD + 3.75%, 0.500% Floor), 02/16/2028 (a)
|
652,652
|
648,164
|
||||
UGI Energy Services, LLC, Senior Secured First Lien Term Loan 8.452% (1 Month SOFR USD + 3.25%, 0.500% Floor), 02/22/2030 (a)
|
375,115
|
373,148
|
||||
5,489,686
|
||||||
OIL & GAS: EQUIPMENT & SERVICES - 0.13%
|
||||||
U.S. Silica Co., Senior Secured First Lien Term Loan 9.952% (1 Month SOFR USD + 4.75%, 0.500% Floor), 03/25/2030 (a)
|
402,070
|
399,809
|
||||
PACKAGING - 1.89%
|
||||||
Clydesdale Acquisition Holdings, Inc., Senior Secured First Lien Term Loan 9.377% (1 Month SOFR USD + 4.175%, 0.500% Floor), 04/13/2029 (a)
|
619,740
|
611,036
|
||||
LABL, Inc., Senior Secured First Lien Term Loan 10.202% (1 Month SOFR USD + 5.00%, 0.500% Floor), 10/30/2028 (a)
|
825,430
|
818,674
|
||||
Mauser Packaging Solutions Holding Co., Senior Secured First Lien Term Loan 9.16% (1 Month SOFR USD + 4.00%), 08/13/2026 (a)
|
1,326,000
|
1,323,878
|
||||
Pregis Topco, LLC
|
||||||
Senior Secured First Lien Term Loan 8.943% (1 Month LIBOR USD + 3.75%, 0.500% Floor), 07/31/2026 (a)
|
540,375
|
536,492
|
||||
Senior Secured First Lien Term Loan 8.967% (1 Month SOFR USD + 3.75%), 07/31/2026 (a)
|
525,925
|
523,758
|
||||
RLG Holdings, LLC, Senior Secured First Lien Term Loan 9.467% (1 Month SOFR USD + 4.25%, 0.750% Floor), 07/07/2028 (a)
|
579,180
|
552,393
|
||||
Sabert Corp., Senior Secured First Lien Term Loan 9.717% (1 Month SOFR USD + 4.50%, 1.000% Floor), 12/10/2026 (a)
|
412,750
|
413,266
|
||||
Trident TPI Holdings, Inc., Senior Secured First Lien Term Loan 9.538% (3 Month LIBOR USD + 4.00%, 0.500% Floor), 09/15/2028 (a)
|
915,262
|
902,842
|
||||
5,682,339
|
||||||
RETAIL: FOOD & DRUG - 0.29%
|
||||||
BJ's Wholesale Club, Inc., Senior Secured First Lien Term Loan 7.891% (1 Month SOFR USD + 2.75%), 02/03/2027 (a)
|
645,834
|
647,852
|
||||
JP Intermediate B, LLC, Senior Secured First Lien Term Loan 10.773% (3 Month LIBOR USD + 5.50%, 1.000% Floor), 11/20/2025 (a)
|
499,987
|
233,744
|
||||
881,596
|
||||||
RETAILING - 1.53%
|
||||||
Belron Finance U.S., LLC, Senior Secured First Lien Term Loan 7.80% (3 Month LIBOR USD + 2.425%, 0.500% Floor), 04/13/2028 (a)
|
1,197,758
|
1,198,356
|
||||
Great Outdoors Group, LLC, Senior Secured First Lien Term Loan 8.943% (1 Month LIBOR USD + 3.75%, 0.750% Floor), 03/06/2028 (a)
|
1,143,829
|
1,136,680
|
||||
Harbor Freight Tools U.S.A., Inc., Senior Secured First Lien Term Loan 7.967% (1 Month SOFR USD + 2.75%, 0.500% Floor), 10/19/2027 (a)
|
488,468
|
482,667
|
||||
Michaels Cos., Inc. , Senior Secured First Lien Term Loan 9.753% (3 Month SOFR USD + 4.25%, 0.750% Floor), 04/14/2028 (a)
|
580,160
|
515,473
|
||||
PetSmart, Inc., Senior Secured First Lien Term Loan 8.952% (1 Month SOFR USD + 3.75%, 0.750% Floor), 02/11/2028 (a)
|
453,845
|
453,752
|
||||
Sally Holdings, LLC, Senior Secured First Lien Term Loan 7.602% (1 Month SOFR USD + 2.50%), 02/28/2030 (a)
|
479,798
|
479,798
|
||||
Topgolf Callaway Brands Corp., Senior Secured First Lien Term Loan 8.702% (1 Month SOFR USD + 3.50%), 03/18/2030 (a)
|
340,148
|
340,217
|
||||
4,606,943
|
||||||
TECHNOLOGY HARDWARE - 1.51%
|
||||||
EOS U.S. Finco, LLC, Senior Secured First Lien Term Loan 10.909% (3 Month SOFR USD + 6.00%, 0.500% Floor), 10/05/2029 (a)
|
419,627
|
417,178
|
||||
II-VI, Inc., Senior Secured First Lien Term Loan 7.967% (1 Month SOFR USD + 2.75%, 0.500% Floor), 06/29/2029 (a)
|
433,195
|
433,060
|
||||
Ingram Micro, Inc., Senior Secured First Lien Term Loan 9.038% (3 Month LIBOR USD + 3.50%, 0.500% Floor), 06/30/2028 (a)
|
394,200
|
393,463
|
||||
MKS Instruments, Inc., Senior Secured First Lien Term Loan 7.939% (1 Month SOFR USD + 2.75%, 0.500% Floor), 08/17/2029 (a)
|
1,277,348
|
1,280,541
|
||||
Presidio Holdings, Inc.
|
||||||
Senior Secured First Lien Term Loan 8.645% (3 Month SOFR USD + 3.50%), 01/22/2027 (a)
|
448,776
|
447,317
|
||||
Senior Secured First Lien Term Loan 8.702% (1 Month SOFR USD + 3.50%), 01/22/2027 (a)
|
16,302
|
16,249
|
||||
World Wide Technology Holding Co., LLC, Senior Secured First Lien Term Loan 8.524% (1 Month SOFR USD + 3.25%, 0.500% Floor), 03/01/2030 (a)
|
1,542,135
|
1,545,027
|
||||
4,532,835
|
||||||
TECHNOLOGY: SOFTWARE & SERVICES - 12.94%
|
||||||
Access CIG, LLC
|
||||||
Senior Secured First Lien Term Loan 8.939% (1 Month LIBOR USD + 3.75%), 02/27/2025 (a)
|
1,891,482
|
1,874,137
|
||||
Senior Secured Second Lien Term Loan 12.939% (1 Month LIBOR USD + 7.75%), 02/27/2026 (a)
|
616,742
|
582,310
|
||||
Almonde, Inc., Senior Secured First Lien Term Loan 9.231% (6 Month LIBOR USD + 3.50%, 1.000% Floor), 06/13/2024 (a)
|
2,111,027
|
2,034,829
|
||||
Barracuda Parent, LLC, Senior Secured First Lien Term Loan 9.545% (3 Month SOFR USD + 4.50%, 0.500% Floor), 08/15/2029 (a)
|
1,034,800
|
1,001,298
|
||||
Boxer Parent Co., Inc., Senior Secured First Lien Term Loan 8.967% (1 Month SOFR USD + 3.75%), 10/02/2025 (a)
|
1,997,905
|
1,984,360
|
||||
CCC Information Services, Inc., Senior Secured First Lien Term Loan 7.518% (1 Month SOFR USD + 2.25%, 0.500% Floor), 09/21/2028 (a)
|
616,610
|
615,744
|
||||
Central Parent, Inc., Senior Secured First Lien Term Loan 9.492% (3 Month SOFR USD + 4.25%, 0.500% Floor), 07/06/2029 (a)
|
730,776
|
729,585
|
||||
Cloud Software Group, Inc., Senior Secured First Lien Term Loan 9.842% (3 Month SOFR USD + 4.50%, 0.500% Floor), 03/30/2029 (a)
|
598,500
|
561,219
|
||||
CommerceHub, Inc., Senior Secured First Lien Term Loan 9.217% (3 Month SOFR USD + 4.00%, 0.750% Floor), 12/29/2027 (a)
|
455,599
|
398,458
|
||||
Connectwise, LLC, Senior Secured First Lien Term Loan 8.693% (1 Month LIBOR USD + 3.50%, 0.500% Floor), 09/29/2028 (a)
|
1,885,340
|
1,840,573
|
||||
DCert Buyer, Inc., Senior Secured First Lien Term Loan 9.264% (3 Month SOFR USD + 4.00%), 10/16/2026 (a)
|
592,944
|
588,775
|
||||
E2Open, LLC, Senior Secured First Lien Term Loan 8.602% (1 Month SOFR USD + 3.50%, 0.500% Floor), 02/04/2028 (a)
|
609,478
|
607,454
|
||||
EagleView Technology Corp., Senior Secured First Lien Term Loan 9.038% (3 Month LIBOR USD + 3.50%), 08/14/2025 (a)
|
725,276
|
643,984
|
||||
Ensono, LP, Senior Secured First Lien Term Loan 9.151% (6 Month LIBOR USD + 4.00%, 0.750% Floor), 05/19/2028 (a)
|
768,948
|
694,856
|
||||
Gen Digital, Inc., Senior Secured First Lien Term Loan 7.202% (1 Month SOFR USD + 2.00%, 0.500% Floor), 09/12/2029 (a)
|
748,802
|
745,998
|
||||
GI Consilio Parent, LLC, Senior Secured First Lien Term Loan 9.193% (1 Month LIBOR USD + 4.00%, 0.500% Floor), 05/12/2028 (a)
|
293,990
|
286,483
|
||||
Greeneden U.S. Holdings II, LLC, Senior Secured First Lien Term Loan 9.193% (1 Month LIBOR USD + 4.00%, 0.750% Floor), 12/01/2027 (a)
|
553,540
|
552,798
|
||||
Hyland Software, Inc., Senior Secured First Lien Term Loan 8.693% (1 Month LIBOR USD + 3.50%, 0.750% Floor), 07/01/2024 (a)
|
448,818
|
445,677
|
||||
McAfee Corp., Senior Secured First Lien Term Loan 9.01% (1 Month SOFR USD + 3.75%, 0.500% Floor), 03/01/2029 (a)
|
1,877,236
|
1,800,843
|
||||
Mitchell International, Inc., Senior Secured First Lien Term Loan 8.943% (3 Month LIBOR USD + 3.75%, 0.500% Floor), 10/16/2028 (a)
|
1,989,813
|
1,949,400
|
||||
Moneygram International, Inc., Senior Secured First Lien Term Loan 10.777% (1 Month SOFR USD + 5.50%, 0.500% Floor), 06/01/2030 (a)
|
319,000
|
277,929
|
||||
NAB Holdings, LLC, Senior Secured First Lien Term Loan 8.392% (3 Month SOFR USD + 3.00%, 0.500% Floor), 11/24/2028 (a)
|
498,111
|
495,496
|
||||
N-Able International Holdings II, LLC, Senior Secured First Lien Term Loan 8.476% (3 Month LIBOR USD + 3.00%, 0.500% Floor), 07/19/2028 (a)
|
504,023
|
502,762
|
||||
Open Text Corp., Senior Secured First Lien Term Loan 8.753% (1 Month SOFR USD + 3.50%, 0.500% Floor), 01/31/2030 (a)
|
1,398,514
|
1,406,381
|
||||
Optiv Security, Inc., Senior Secured First Lien Term Loan 10.338% (6 Month SOFR USD + 5.25%), 08/17/2026 (a)
|
1,049,804
|
1,002,783
|
||||
Peraton Corp., Senior Secured First Lien Term Loan 8.952% (1 Month SOFR USD + 3.75%, 0.750% Floor), 02/01/2028 (a)
|
1,961,968
|
1,931,489
|
||||
Project Alpha Intermediate Holding, Inc., Senior Secured First Lien Term Loan 9.20% (1 Month LIBOR USD + 4.00%), 04/26/2024 (a)
|
2,310,318
|
2,307,788
|
||||
Proofpoint, Inc., Senior Secured First Lien Term Loan 8.467% (1 Month SOFR USD + 3.25%, 0.500% Floor), 08/31/2028 (a)
|
1,429,235
|
1,401,244
|
||||
Quartz Acquireco, LLC, Senior Secured First Lien Term Loan 8.855%, 04/13/2030 (a)(g)
|
527,000
|
527,659
|
||||
RealPage, Inc., Senior Secured First Lien Term Loan 8.217% (1 Month SOFR USD + 3.00%, 0.500% Floor), 04/24/2028 (a)
|
1,200,850
|
1,176,382
|
||||
Rocket Software, Inc.
|
||||||
Senior Secured First Lien Term Loan 9.467% (1 Month SOFR USD + 4.25%), 11/28/2025 (a)
|
329,123
|
326,336
|
||||
Senior Secured First Lien Term Loan 9.467% (1 Month SOFR USD + 4.25%, 0.500% Floor), 11/28/2025 (a)
|
215,437
|
213,821
|
||||
Sedgwick Claims Management Services, Inc., Senior Secured First Lien Term Loan 8.852% (1 Month SOFR USD + 3.75%), 02/24/2028 (a)
|
1,319,693
|
1,313,820
|
||||
SolarWinds Holdings, Inc., Senior Secured First Lien Term Loan 8.852% (1 Month SOFR USD + 3.75%), 02/05/2027 (a)
|
1,061,641
|
1,063,169
|
||||
Sovos Compliance, LLC, Senior Secured First Lien Term Loan 9.717% (1 Month SOFR USD + 4.50%, 0.500% Floor), 08/11/2028 (a)
|
491,528
|
475,509
|
||||
SS&C Technologies, Inc.
|
||||||
Senior Secured First Lien Term Loan 7.452% (1 Month SOFR USD + 2.25%, 0.500% Floor), 03/22/2029 (a)
|
601,444
|
600,443
|
||||
Senior Secured First Lien Term Loan 7.452% (1 Month SOFR USD + 2.25%, 0.500% Floor), 03/22/2029 (a)
|
399,049
|
398,385
|
||||
TierPoint, LLC, Senior Secured First Lien Term Loan 9.226% (3 Month LIBOR USD + 3.75%, 0.750% Floor), 05/05/2026 (a)
|
431,398
|
429,780
|
||||
UKG, Inc.
|
||||||
Senior Secured First Lien Term Loan 8.271% (3 Month SOFR USD + 3.25%, 0.500% Floor), 05/04/2026 (a)
|
969,815
|
953,246
|
||||
Senior Secured First Lien Term Loan 8.895% (3 Month SOFR USD + 3.75%), 05/04/2026 (a)
|
720,913
|
712,265
|
||||
Senior Secured First Lien Term Loan 9.877% (3 Month SOFR USD + 4.50%, 0.500% Floor), 05/04/2026 (a)
|
255,000
|
254,948
|
||||
VS Buyer, LLC, Senior Secured First Lien Term Loan 8.524% (1 Month SOFR USD + 3.25%), 02/26/2027 (a)
|
453,484
|
449,092
|
||||
WEX, Inc., Senior Secured First Lien Term Loan 7.467% (1 Month SOFR USD + 2.25%), 03/31/2028 (a)
|
700,868
|
701,306
|
||||
38,860,814
|
||||||
TELECOMMUNICATION SERVICES: DIVERSIFIED - 1.97%
|
||||||
Altice France S.A., Senior Secured First Lien Term Loan 10.486% (3 Month SOFR USD + 5.50%), 08/15/2028 (a)
|
337,733
|
301,709
|
||||
Cincinnati Bell, Inc., Senior Secured First Lien Term Loan 8.452% (1 Month SOFR USD + 3.25%, 0.500% Floor), 11/22/2028 (a)
|
571,300
|
547,854
|
||||
Consolidated Communications, Inc., Senior Secured First Lien Term Loan 8.717% (1 Month SOFR USD + 3.50%, 0.750% Floor), 10/04/2027 (a)
|
553,868
|
490,965
|
||||
Crown Subsea Communications Holding, Inc., Senior Secured First Lien Term Loan 10.525% (1 Month SOFR USD + 5.25%, 0.750% Floor), 04/27/2027 (a)
|
897,000
|
899,246
|
||||
Eagle Broadband Investments, LLC, Senior Secured First Lien Term Loan 8.503% (1 Month SOFR USD + 3.00%, 0.750% Floor), 11/12/2027 (a)
|
612,857
|
607,495
|
||||
Guardian U.S. Holdco, LLC, Senior Secured First Lien Term Loan 9.045% (3 Month SOFR USD + 4.00%, 0.500% Floor), 01/31/2030 (a)
|
355,000
|
353,115
|
||||
Lumen Technologies, Inc., Senior Secured First Lien Term Loan 7.467% (1 Month SOFR USD + 2.25%), 03/15/2027 (a)
|
632,856
|
490,068
|
||||
Voyage U.S., LLC, Senior Secured First Lien Term Loan 8.81% (3 Month SOFR USD + 3.50%, 0.500% Floor), 07/20/2028 (a)
|
472,583
|
468,646
|
||||
Zayo Group Holdings, Inc.
|
||||||
Senior Secured First Lien Term Loan 8.217% (1 Month SOFR USD + 3.00%), 03/09/2027 (a)
|
1,272,474
|
1,003,345
|
||||
Senior Secured First Lien Term Loan 9.352% (1 Month SOFR USD + 4.25%, 0.500% Floor), 03/09/2027 (a)
|
365,375
|
291,158
|
||||
Ziggo Financing Partnership, Senior Secured First Lien Term Loan 7.693% (1 Month LIBOR USD + 2.50%), 04/28/2028 (a)
|
455,000
|
448,826
|
||||
5,902,427
|
||||||
TELECOMMUNICATION SERVICES: WIRELESS - 0.17%
|
||||||
CCI Buyer, Inc., Senior Secured First Lien Term Loan 9.242% (3 Month SOFR USD + 4.00%, 0.750% Floor), 12/17/2027 (a)
|
532,738
|
523,748
|
||||
TRANSPORTATION - 2.84%
|
||||||
AAdvantage Loyalty IP, Ltd., Senior Secured First Lien Term Loan 10.00% (3 Month LIBOR USD + 4.75%, 0.750% Floor), 04/20/2028 (a)
|
727,184
|
743,677
|
||||
Atlas CC Acquisition Corp.
|
||||||
Senior Secured First Lien Term Loan 9.775% (3 Month SOFR USD + 4.25%, 0.750% Floor), 05/25/2028 (a)
|
1,096,945
|
958,713
|
||||
Senior Secured First Lien Term Loan 9.775% (3 Month SOFR USD + 4.25%, 0.750% Floor), 05/25/2028 (a)
|
231,905
|
202,682
|
||||
Avis Budget Car Rental, LLC, Senior Secured First Lien Term Loan 8.753% (1 Month SOFR USD + 3.50%, 0.500% Floor), 03/15/2029 (a)
|
493,033
|
494,779
|
||||
Brown Group Holding, LLC
|
||||||
Senior Secured First Lien Term Loan 8.795% (3 Month SOFR USD + 3.75%, 0.500% Floor), 07/02/2029 (a)
|
655,657
|
655,188
|
||||
Senior Secured First Lien Term Loan 8.852% (1 Month SOFR USD + 3.75%, 0.500% Floor), 07/02/2029 (a)
|
22,583
|
22,567
|
||||
Senior Secured First Lien Term Loan 9.014% (3 Month SOFR USD + 3.75%, 0.500% Floor), 07/02/2029 (a)
|
227,853
|
227,690
|
||||
Hertz Corp.
|
||||||
Senior Secured First Lien Term Loan 8.467% (1 Month SOFR USD + 3.25%, 0.500% Floor), 06/30/2028 (a)
|
379,314
|
379,174
|
||||
Senior Secured First Lien Term Loan 8.467% (1 Month SOFR USD + 3.25%, 0.500% Floor), 06/30/2028 (a)
|
72,945
|
72,918
|
||||
Kenan Advantage Group, Inc., Senior Secured First Lien Term Loan 9.477% (6 Month SOFR USD + 4.1783%, 0.750% Floor), 03/24/2026 (a)
|
480,278
|
480,064
|
||||
Lasership, Inc., Senior Secured First Lien Term Loan 9.693% (1 Month LIBOR USD + 4.50%, 0.750% Floor), 05/08/2028 (a)
|
1,580,607
|
1,311,904
|
||||
Mileage Plus Holdings, LLC, Senior Secured First Lien Term Loan 10.764% (3 Month LIBOR USD + 5.25%, 1.000% Floor), 06/21/2027 (a)
|
59,705
|
62,130
|
||||
PODS, LLC, Senior Secured First Lien Term Loan 8.217% (1 Month SOFR USD + 3.00%, 0.750% Floor), 03/31/2028 (a)
|
1,854,283
|
1,822,991
|
||||
Uber Technologies, Inc.
|
||||||
Senior Secured First Lien Term Loan 7.999% (3 Month SOFR USD + 2.75%), 03/04/2030 (a)
|
171,388
|
171,592
|
||||
Senior Secured First Lien Term Loan 8.026% (3 Month SOFR USD + 2.75%), 03/04/2030 (a)
|
400,737
|
401,214
|
||||
WWEX UNI TopCo Holdings, LLC, Senior Secured First Lien Term Loan 9.503% (3 Month SOFR USD + 4.00%, 0.750% Floor), 07/26/2028 (a)
|
564,405
|
537,480
|
||||
8,544,763
|
||||||
UTILITIES: POWER - 0.70%
|
||||||
Calpine Construction Finance Co., LP, Senior Secured First Lien Term Loan 7.193% (1 Month LIBOR USD + 2.00%), 01/15/2025 (a)
|
828,847
|
829,191
|
||||
Calpine Corp., Senior Secured First Lien Term Loan 7.70% (1 Month LIBOR USD + 2.50%), 12/16/2027 (a)
|
370,500
|
370,702
|
||||
Eastern Power, LLC, Senior Secured First Lien Term Loan 8.909% (3 Month LIBOR USD + 3.75%, 1.000% Floor), 10/02/2025 (a)
|
115,228
|
111,332
|
||||
Lightstone Holdco, LLC
|
||||||
Senior Secured First Lien Term Loan 10.852% (1 Month SOFR USD + 5.75%, 1.000% Floor), 02/01/2027 (a)
|
783,736
|
711,828
|
||||
Senior Secured First Lien Term Loan 10.852% (1 Month SOFR USD + 5.75%, 1.000% Floor), 02/01/2027 (a)
|
44,328
|
40,260
|
||||
New Frontera Holdings, LLC, Senior Secured Second Lien Term Loan 6.659% (3 Month LIBOR USD + 1.50%, 1.000% Floor), 07/28/2028 (a)
|
57,484
|
25,868
|
||||
2,089,181
|
||||||
TOTAL BANK LOANS (Cost $249,598,038)
|
245,396,296
|
|||||
CORPORATE BONDS - 13.35% (f)
|
||||||
AEROSPACE & DEFENSE - 0.61%
|
||||||
TransDigm, Inc. 6.25%, 03/15/2026 (h)
|
1,850,000
|
1,842,513
|
||||
BUILDING PRODUCTS - 0.16%
|
||||||
Standard Industries, Inc. 3.375%, 01/15/2031 (h)
|
600,000
|
483,898
|
||||
CHEMICALS - 0.15%
|
||||||
Olympus Water U.S. Holding Corp. 7.125%, 10/01/2027 (h)
|
490,000
|
442,224
|
||||
COMMERCIAL SERVICES - 0.56%
|
||||||
Garda World Security Corp. 4.625%, 02/15/2027 (c)(h)
|
710,000
|
650,073
|
||||
OPENLANE, Inc. 5.125%, 06/01/2025 (h)
|
424,000
|
416,014
|
||||
Tempo Acquisition, LLC / Tempo Acquisition Finance Corp. 5.75%, 06/01/2025 (h)
|
625,000
|
624,888
|
||||
1,690,975
|
||||||
CONSTRUCTION & ENGINEERING - 0.19%
|
||||||
Pike Corp. 5.50%, 09/01/2028 (h)
|
638,000
|
573,437
|
||||
ENVIRONMENTAL SERVICES - 0.39%
|
||||||
GFL Environmental, Inc. 4.00%, 08/01/2028 (c)(h)
|
541,000
|
484,298
|
||||
Stericycle, Inc. 5.375%, 07/15/2024 (h)
|
679,000
|
670,836
|
||||
1,155,134
|
||||||
HEALTHCARE: EQUIPMENT & SUPPLIES - 0.21%
|
||||||
Garden Spinco Corp. 8.625%, 07/20/2030 (h)
|
589,000
|
634,907
|
||||
HEALTHCARE: FACILITIES - 1.19%
|
||||||
Fresenius Medical Care U.S. Finance III, Inc. 2.375%, 02/16/2031 (h)
|
925,000
|
702,084
|
||||
RegionalCare Hospital Partners Holdings, Inc. / LifePoint Health, Inc. 9.75%, 12/01/2026 (h)
|
1,577,000
|
1,319,434
|
||||
Tenet Healthcare Corp. 6.25%, 02/01/2027
|
1,570,000
|
1,555,370
|
||||
3,576,888
|
||||||
HEALTHCARE: MANAGED HEALTH CARE - 0.34%
|
||||||
Verscend Escrow Corp. 9.75%, 08/15/2026 (h)
|
1,010,000
|
1,014,466
|
||||
HEALTHCARE: PHARMACEUTICALS & BIOTECHNOLOGY - 0.45%
|
||||||
Teva Pharmaceutical Finance Netherlands III B.V. 3.15%, 10/01/2026 (c)
|
1,515,000
|
1,357,132
|
||||
HEALTHCARE: REITs - 0.29%
|
||||||
MPT Operating Partnership, LP / MPT Finance Corp. 3.50%, 03/15/2031
|
1,270,000
|
876,343
|
||||
INDUSTRIAL MACHINERY - 0.24%
|
||||||
WESCO Distribution, Inc. 7.125%, 06/15/2025 (h)
|
715,000
|
723,125
|
||||
LEISURE: CASINOS & GAMING - 2.56%
|
||||||
Allwyn Entertainment Financing UK PLC 7.875%, 04/30/2029 (c)(h)
|
440,000
|
447,264
|
||||
Caesars Entertainment, Inc. 6.25%, 07/01/2025 (h)
|
2,225,000
|
2,216,509
|
||||
Caesars Resort Collection, LLC / CRC Finco, Inc. 5.75%, 07/01/2025 (h)
|
849,000
|
859,784
|
||||
Churchill Downs, Inc. 5.50%, 04/01/2027 (h)
|
731,000
|
703,563
|
||||
International Game Technology PLC
|
||||||
6.50%, 02/15/2025 (c)(h)
|
931,000
|
931,838
|
||||
4.125%, 04/15/2026 (c)(h)
|
610,000
|
579,836
|
||||
Premier Entertainment Sub, LLC / Premier Entertainment Finance Corp.
|
||||||
5.625%, 09/01/2029 (h)
|
561,000
|
425,479
|
||||
5.875%, 09/01/2031 (h)
|
562,000
|
415,248
|
||||
VICI Properties, LP / VICI Note Co., Inc. 3.50%, 02/15/2025 (h)
|
1,145,000
|
1,095,094
|
||||
7,674,615
|
||||||
LEISURE: HOTELS - 0.72%
|
||||||
NCL Corp., Ltd.
|
||||||
3.625%, 12/15/2024 (c)(h)
|
460,000
|
442,322
|
||||
8.375%, 02/01/2028 (c)(h)
|
444,000
|
464,327
|
||||
Royal Caribbean Cruises, Ltd. 11.50%, 06/01/2025 (c)(h)
|
380,000
|
403,522
|
||||
Sabre GLBL, Inc. 7.375%, 09/01/2025 (h)
|
972,000
|
863,918
|
||||
2,174,089
|
||||||
LEISURE: RESTAURANTS - 0.21%
|
||||||
CEC Entertainment, LLC 6.75%, 05/01/2026 (h)
|
660,000
|
630,578
|
||||
MEDIA: CABLE & SATELLITE - 0.30%
|
||||||
DISH DBS Corp. 5.125%, 06/01/2029
|
575,000
|
267,537
|
||||
Hughes Satellite Systems Corp. 6.625%, 08/01/2026
|
675,000
|
631,736
|
||||
899,273
|
||||||
MEDIA: ENTERTAINMENT - 0.33%
|
||||||
Playtika Holding Corp. 4.25%, 03/15/2029 (h)
|
1,130,000
|
1,003,892
|
||||
METALS & MINING - 0.32%
|
||||||
GrafTech Finance, Inc. 4.625%, 12/15/2028 (h)
|
127,000
|
103,296
|
||||
GrafTech Global Enterprises, Inc. 9.875%, 12/15/2028 (h)
|
857,000
|
851,644
|
||||
954,940
|
||||||
MIDSTREAM: STORAGE & TRANSPORT - 0.34%
|
||||||
Venture Global Calcasieu Pass, LLC 6.25%, 01/15/2030 (h)
|
290,000
|
287,022
|
||||
Venture Global LNG, Inc. 8.125%, 06/01/2028 (h)
|
712,000
|
722,036
|
||||
1,009,058
|
||||||
PACKAGING - 0.25%
|
||||||
Ball Corp. 5.25%, 07/01/2025
|
758,000
|
749,006
|
||||
RETAIL: FOOD & DRUG - 0.15%
|
||||||
U.S. Foods, Inc. 6.25%, 04/15/2025 (h)
|
465,000
|
465,177
|
||||
TECHNOLOGY HARDWARE - 0.31%
|
||||||
Entegris Escrow Corp. 4.75%, 04/15/2029 (h)
|
1,005,000
|
930,942
|
||||
TECHNOLOGY: SOFTWARE & SERVICES - 1.10%
|
||||||
Boxer Parent Co., Inc. 7.125%, 10/02/2025 (h)
|
385,000
|
385,352
|
||||
Elastic N.V. 4.125%, 07/15/2029 (c)(h)
|
844,000
|
728,862
|
||||
Gen Digital, Inc. 5.00%, 04/15/2025 (h)
|
2,220,000
|
2,176,262
|
||||
3,290,476
|
||||||
TELECOMMUNICATION SERVICES: DIVERSIFIED - 0.99%
|
||||||
Altice France SA/France 5.50%, 01/15/2028 (c)(h)
|
400,000
|
302,589
|
||||
Frontier Communications Holdings, LLC 5.00%, 05/01/2028 (h)
|
1,000,000
|
863,721
|
||||
Level 3 Financing, Inc. 3.875%, 11/15/2029 (h)
|
1,250,000
|
996,357
|
||||
Northwest Fiber, LLC / Northwest Fiber Finance Sub, Inc.
|
||||||
4.75%, 04/30/2027 (h)
|
349,000
|
308,551
|
||||
6.00%, 02/15/2028 (h)
|
622,000
|
497,444
|
||||
2,968,662
|
||||||
TRANSPORTATION - 0.80%
|
||||||
Uber Technologies, Inc. 8.00%, 11/01/2026 (h)
|
1,350,000
|
1,377,400
|
||||
XPO, Inc.
|
||||||
6.25%, 06/01/2028 (h)
|
758,000
|
746,630
|
||||
7.125%, 06/01/2031 (h)
|
264,000
|
264,955
|
||||
2,388,985
|
||||||
UTILITIES: PROPANE - 0.19%
|
||||||
AmeriGas Partners, LP / AmeriGas Finance Corp. 5.50%, 05/20/2025
|
585,000
|
565,340
|
||||
TOTAL CORPORATE BONDS (Cost $42,036,057)
|
40,076,075
|
|||||
Shares
|
||||||
EQUITY - 0.00%
|
||||||
UTILITIES: POWER - 0.00%
|
||||||
Frontera Generation Holdings, LLC (b)
|
479
|
7
|
||||
TOTAL EQUITY (Cost $2,668)
|
7
|
|||||
WARRANT - 0.00%
|
||||||
MEDIA - ENTERTAINMENT - 0.00%
|
||||||
Crown Finance U.S., Inc. (b)(d)
|
98,930
|
3,455
|
||||
TOTAL WARRANT (Cost $30,928)
|
3,455
|
|||||
MONEY MARKET FUND - 4.34%
|
||||||
First American Government Obligations Fund - Class X, 5.01% (e)
|
13,041,823
|
13,041,823
|
||||
TOTAL MONEY MARKET FUND (Cost $13,041,823)
|
13,041,823
|
|||||
Total Investments (Cost $304,709,514) - 99.42%
|
298,517,656
|
|||||
Other Assets in Excess of Liabilities - 0.58%
|
1,756,225
|
|||||
TOTAL NET ASSETS - 100.00%
|
$ |
300,273,881
|
||||
|
||||||
Percentages are stated as a percent of net assets.
|
LIBOR
|
London Interbank Offered Rate
|
||||
PIK
|
Payment-in-kind
|
||||
PLC
|
Public Limited Company
|
||||
REIT
|
Real Estate Investment Trust
|
||||
SOFR
|
Secured Overnight Funding Rate
|
||||
(a)
|
Variable rate securities. The coupon rate shown is the effective interest rate as of June 30, 2023.
|
||||
(b)
|
Non-income producing security.
|
||||
(c)
|
U.S. traded security of a foreign issuer.
|
||||
(d)
|
Foreign issued security.
|
||||
(e)
|
Rate shown is the 7-day annualized yield as of June 30, 2023.
|
||||
(f)
|
All or a portion is posted as collateral for delayed settlement securities.
|
||||
(g)
|
Final terms of the bank loan are not yet known, so reference index and spread information may not be presented.
|
||||
(h)
|
Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended, and may be sold only to dealers
|
||||
in the program or other "qualified institutional buyers." As of June 30, 2023, the value of these investments was
|
|||||
$34,073,611 or 11.35% of total net assets.
|
|||||
(i)
|
All or a portion of the loan is unfunded.
|
||||
(j)
|
Rates for senior loans will typically have interest rates that redetermine periodically by reference to a base lending rate plus a spread. Senior loans that reference SOFR may be subject to a credit spread
adjustment, particularly to legacy LIBOR bank loans that have transitioned to SOFR as the base lending rate.
|
||||
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI,
|
|||||
Inc. and Standard & Poor's Financial Services LLC (“S&P”). GICS is a service mark of MSCI and S&P and has
|
|||||
been licensed for use by Shenkman Capital Management, Inc. Industries presented are at the discretion
|
|||||
of Shenkman Capital Management, Inc. and therefore may not follow the exact naming convention prescribed by GICS.
|
Shenkman Capital Floating Rate High Income Fund
|
|||||||||
Summary of Fair Value Disclosure at June 30, 2023 (Unaudited)
|
|||||||||
The Fund utilizes various methods to measure the fair value of its investments on a recurring basis. Accounting
|
|||||||||
principles generally accepted in the United States of America ("U.S. GAAP") establish a hierarchy that prioritizes
|
|||||||||
inputs to valuation methods. The three levels of inputs are:
|
Level 1 –
|
Unadjusted quoted prices in active markets for identical assets or liabilities that the
|
||||||||
Fund has the ability to access.
|
|||||||||
Level 2 –
|
Observable inputs other than quoted prices included in Level 1 that are observable for
|
||||||||
the asset or liability, either directly or indirectly. These inputs may include quoted prices
|
|||||||||
for the identical instrument on an inactive market, prices for similar instruments, interest
|
|||||||||
rates, prepayment speeds, credit risk, yield curves, default rates and similar data.
|
|||||||||
Level 3 –
|
Unobservable inputs for the asset or liability, to the extent relevant observable inputs
|
||||||||
are not available, representing the Fund's own assumptions about the assumptions a market
|
|||||||||
participant would use in valuing the asset or liability, and would be based on the best
|
|||||||||
information available.
|
The following is a summary of the inputs used to value the Fund's investments as of June 30, 2023:
|
Shenkman Capital Floating Rate High Income Fund
|
||||||||||||||||
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||||||
Fixed Income
|
||||||||||||||||
Bank Loans
|
$
|
-
|
$
|
245,396,296
|
$
|
-
|
$
|
245,396,296
|
||||||||
Corporate Bonds
|
-
|
40,076,075
|
-
|
40,076,075
|
||||||||||||
Total Fixed Income
|
-
|
285,472,371
|
-
|
285,472,371
|
||||||||||||
Equity
|
-
|
7
|
-
|
7
|
||||||||||||
Warrant
|
-
|
3,455
|
-
|
3,455
|
||||||||||||
Money Market Fund
|
13,041,823
|
-
|
-
|
13,041,823
|
||||||||||||
Total Investments
|
$
|
13,041,823
|
$
|
285,475,833
|
$
|
-
|
$
|
298,517,656
|
||||||||
Refer to the Fund's schedule of investments for a detailed break-out of holdings by industry classification.
|