PGIM Short Duration High Yield Income Fund
Barron’s Best Fund Families: Ranked #4 for best fund family over the 1-year period ended 12/31/2024, among 48 qualifying fund families based on asset- weighted returns.
To provide a high level of current income by investing primarily in higher-rated, below investment-grade fixed income instruments.* The Fund seeks to maintain a weighted average portfolio duration of three years or less and a weighted average maturity of five years or less.
Growth of $10,000
Past performance does not guarantee future results and current performance may be lower or higher than the past performance data quoted. The investment return and principal value will fluctuate, and shares, when sold, may be worth more or less than the original cost. This chart represents historical performance and does not assume the effects of sales charges or varying fees and expenses of other share classes. If shown with sales charges or these other fees and expenses, performance could have been lower. It is not possible to invest directly in an index. Click here to view benchmark index definitions.
FUND INFORMATION
Fund StatisticS
|
Name
|
Weight
|
|---|---|
| Average Maturity (years) | 3.40 |
| Duration (years) | 2.10 |
| Standard Deviation (3 year) | 3.90 |
Source: Morningstar. Morningstar Ratings may be calculated based on share class adjusted historical returns. If so, the fund’s independent Morningstar Rating metric uses the fund’s oldest class to determine its hypothetical rating for certain periods. Morningstar Ratings are calculated for managed products with a 3-year minimum history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. Rating is calculated based on a Morningstar Risk-Adjusted Return measure accounting for variation in a managed product's monthly excess performance that emphasizes downward variations more and rewards consistent performance, with no sales load adjustment. In each category, the top 10% receive 5 stars, with 4 stars for the next 22.5%, 3 stars for the next 35%, 2 stars for the next 22.5%, and 1 star for the bottom 10%. Overall Morningstar Rating is derived from a weighted average of the performance associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics: for 36-59 months of total returns, 100% 3-year rating, for 60-119 months of total returns, 60% 5-year rating/40% 3-year rating, and for 120 or more months of total returns, 50% 10-year rating/30% 5-year rating/20% 3-year rating.
The Morningstar Medalist RatingTM is the summary expression of Morningstar’s forward-looking investment strategies analysis offered via specific vehicles on a Gold, Silver, Bronze, Neutral, and Negative scale. These ratings indicate the investments Morningstar believes are likely to outperform a relevant index or peer group average on a risk-adjusted basis over time. Investments are evaluated on 3 pillars (People, Parent, and Process) which, when coupled with a fee assessment, form the basis for Morningstar’s conviction in those product’s investment merits and determine the assigned rating. Pillar ratings are Low, Below Average, Average, Above Average, and High, and are evaluated qualitatively (either directly to a covered vehicle or indirectly when a covered vehicle’s ratings are mapped to a related uncovered vehicle) or using algorithmic techniques. Vehicles are sorted by expected performance into rating groups defined by their Morningstar Category and active or passive status. Analysts who directly cover a vehicle assign the 3 pillar ratings based on their qualitative assessment, subject to Analyst Rating Committee oversight, and monitor and reevaluate them at least every 14 months. Vehicle ratings are assigned monthly when covered either indirectly by analysts or by algorithm. For more information, please visit www.global.morningstar.com/managerdisclosures/. Ratings are not statements of fact, nor are they credit or risk ratings. The Morningstar Medalist Rating (i) should not be used as the sole basis in evaluating an investment product, (ii) involves unknown risks and uncertainties which may cause expectations not to occur or to differ significantly from what was expected, (iii) are not guaranteed to be based on complete or accurate assumptions or models when determined algorithmically, (iv) involve the risk that the return target will not be met due to issues like unforeseen changes in management, technology, economic development, interest rate development, operating and/or material costs, competitive pressure, supervisory law, exchange rate, tax rates, exchange rate changes, and/or changes in political and social conditions, and (v) should not be considered an offer or solicitation to buy or sell the investment. Changes in underlying factors can mean the rating is subsequently no longer accurate. ‡Source: Morningstar.
Risks of investing in the fund include but are not limited to the following: Fixed Income investments are subject to credit, market, prepayment and interest rate risks, and their value will decline as interest rates rise. High yield (“junk”) bonds are subject to greater credit and market risks. Foreign securities are subject to currency fluctuations and political uncertainty. Derivatives may carry market, credit and liquidity risks. There is no guarantee the Fund's objective will be achieved. Risks are more fully explained in the fund's prospectus.
- Monthly & Quarterly Performance
- Prices & Yields
Total Returns (%)
| TOTAL RETURNS (%) WITH SALES CHARGE WITHOUT SALES CHARGE | |||||||
|---|---|---|---|---|---|---|---|
| Cumulative | Average Annual | ||||||
| Class | Ticker | YTD | 1-Yr | 3-Yr | 5-Yr | 10-Yr | Since Inception |
Past performance does not guarantee future results and current performance may be lower or higher than the past performance data quoted. The investment return and principal value will fluctuate, and shares, when sold, may be worth more or less than the original cost.
See Daily Returns for the PGIM Short Duration High Yield Income Fund.
See Performance of other PGIM Investments Mutual Funds.
See Calendar Year Performance for the PGIM Short Duration High Yield Income Fund.
See Daily Returns for the PGIM Short Duration High Yield Income Fund.
See Quarterly SEC Standardized Performance of other PGIM Investments Mutual Funds.
See Calendar Year Performance for the PGIM Short Duration High Yield Income Fund.
|
Fund Expenses
|
Maximum Sales Charge (%)
|
|||
|---|---|---|---|---|
|
Class
|
Gross (%)
|
Net (%)
|
Date*
|
|
| A | 1.04 | 1.00 | 12/31/2025 | 2.25 |
| C | 1.81 | 1.75 | 12/31/2025 | 1.00 |
| R6 | 0.72 | 0.70 | 12/31/2025 | — |
| Z | 0.82 | 0.75 | 12/31/2025 | — |
*This date represents the contractual reduction date through which the net expense ratio is in effect.
Total return describes the return to the investor after net operating expenses but before any sales charges are imposed. Morningstar Category Average is unmanaged, is based on the average return of all funds in this category, and does not take into consideration applicable sales charges. Unless noted otherwise, Morningstar Category Average and index returns reflect performance beginning the closest month-end date to the Fund's inception. Benchmark since inception average is based on Class Z inception date. SEC standardized return describes the return to the investor after net operating expense and maximum sales charges are imposed. All returns assume share price changes as well as the compounding effect of reinvested dividends and capital gains. Returns may reflect fee waivers and/or expense reimbursements. Without such, returns would be lower. All returns 1-year or less are cumulative.
Morningstar High-Yield Bond Category Average: High-yield bond portfolios concentrate on lower-quality bonds, which are riskier than those of higher- quality companies. These portfolios generally offer higher yields than other types of portfolios, but they are also more vulnerable to economic and credit risk. These portfolios primarily invest in U.S. high- income debt securities where at least 65% or more of bond assets are not rated or are rated by a major agency such as Standard & Poor's or Moody's at the level of BB (considered speculative for taxable bonds) and below.
An investment cannot be made directly in an index or average. All indexes and averages are unmanaged.
Prices
|
Class
|
NAV ($)
|
NAV Change ($)
|
NAV Change (%)
|
POP ($)
|
Total Net Assets ($)
|
|---|---|---|---|---|---|
| A | 8.47 | 0.00 | 0.00 | 8.66 | 413,517,937.66 |
| C | 8.47 | 0.00 | 0.00 | — | 135,430,330.33 |
| R6 | 8.48 | 0.00 | 0.00 | — | 542,777,829.79 |
| Z | 8.47 | 0.00 | 0.00 | — | 4,050,961,800.64 |
NAV (Net Asset Value) is the $U.S. value of a single share of a fund, excluding any sales charges. Change shows the change in $U.S. value over the previous day:
= Gain, 
= Loss, 
= No Change.
See Prices of other PGIM Investments Mutual Funds.
52 Week High/Low
|
Class
|
52 Week High ($)
|
52 Week High Date
|
52 Week Low ($)
|
52 Week Low Date
|
|---|---|---|---|---|
| A | 8.55 | 09/16/2025 | 8.17 | 04/08/2025 |
| C | 8.55 | 09/16/2025 | 8.17 | 04/08/2025 |
| R6 | 8.56 | 09/15/2025 | 8.18 | 04/08/2025 |
| Z | 8.55 | 09/16/2025 | 8.18 | 04/08/2025 |
For share classes less than one year old, the 52-week high and 52-week low NAVs are calculated from inception to the current date.
Yields
| Class | SEC 30-Day Subsidized Yield (%) | SEC 30-Day Unsubsidized Yield (%) | Offer Distb. Yield (%) | NAV Distb. Yield (%) | SEC-30 Day Sub Taxable Equivalent Yield (%) |
|---|---|---|---|---|---|
| A - View Prospectus | 4.99 | 4.96 | 5.91 | 6.05 | — |
| C - View Prospectus | 4.35 | 4.31 | — | 5.29 | — |
| R6 - View Prospectus | 5.41 | 5.40 | — | 6.35 | — |
| Z - View Prospectus | 5.37 | 5.32 | — | 6.30 | — |
See Yields of other PGIM Investments Mutual Funds.
Past performance does not guarantee future results and current performance may be lower or higher than the past performance data quoted. The investment return and principal value will fluctuate, and shares, when sold, may be worth more or less than the original cost.
This material must be preceded or accompanied by a current prospectus or summary prospectus. Consider a fund's investment objectives, risks, charges, and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about the fund. For more information about a fund, click on the prospectus or summary prospectus link above. Read them carefully before investing.
- Portfolio Summary
- Complete Holdings
Portfolio Attributes
Top 10 Corporate Holdings (% of Assets)
|
Top 10 Corporate Holdings
|
Fund (% of Assets)
|
|---|---|
| Vistra | 1.9% |
| Frontier Communications | 1.7% |
| Next Alt Sarl | 1.4% |
| Tenet Healthcare | 1.4% |
| Charter Communications | 1.3% |
| Medline Borrower | 1.2% |
| Uniti Group (Delaware) | 1.2% |
| Acrisure | 1.2% |
| Venture Global | 1.1% |
| Onemain | 1.1% |
Credit Quality (% of Assets)
|
Credit Quality
|
% of Assets
|
|---|---|
| AAA | 7.0% |
| BBB | 6.7% |
| BB | 53.6% |
| B | 23.3% |
| CCC | 6.1% |
| CC | 0.1% |
| Not Rated | 3.4% |
| Cash/Equiv | -0.2% |
Largest Industries (% of Assets)
|
Largest Industries
|
% of Assets
|
|---|---|
| Gaming & Lodging & Leisure | 8.1% |
| Health Care & Pharmaceutical | 6.9% |
| Building Materials & Home Construction | 6.8% |
| Telecom | 6.5% |
| Finance Companies | 6.1% |
| Technology | 5.4% |
| Cable & Satellite | 5.2% |
| Retailers & Restaurants | 4.4% |
| Electric & Water | 4.1% |
| Energy - Upstream | 3.8% |
Geographic Concentration (% of Assets)
|
Geographic Concentration
|
% of Assets
|
|---|---|
| United States | 86.2% |
| Canada | 5.6% |
| United Kingdom | 2.0% |
| France | 1.3% |
| Ireland | 0.8% |
| Switzerland | 0.6% |
| Japan | 0.6% |
| Switzerland | 0.6% |
| Other | 2.5% |
| Cash/Equiv | -0.2% |
FUND STATISTICS
|
Average Maturity
|
Years
|
|---|---|
| Average Maturity (years) | 3.4 |
| Duration (years) | 2.1 |
| Standard Deviation (3 year) | 3.90 |
All data is unaudited and subject to change. Holdings/allocations may vary. This is not a recommendation to buy or sell any security listed. Largest holdings exclude cash, cash equivalents, money market funds and enhanced cash strategies. Totals may not sum due to rounding. Negative holdings reflect outstanding trades at period end.
Fund Holdings
Holdings are unaudited, may vary and are subject to change. Please refer to the Fund's annual report for audited holdings information. This is not a recommendation to buy or sell any security listed.
Value ($): Cash securities are calculated using market value and derivative securities are calculated using notional value.
Source: Bank of New York Mellon. Holdings are provided to Prudential Financial by the custodian bank and Prudential Financial is not responsible for any errors or omissions related to the holdings data.
© 2025, American Bankers Association. CUSIP Database provided by FactSet Research Systems Inc. All rights reserved.
Consider a fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about the fund. For more information about a fund, click on the prospectus or summary prospectus link above. Read them carefully before investing.
Investment products are distributed by Prudential Investment Management Services LLC, member FINRA and SIPC. PGIM Investments is a registered investment advisor and investment manager to PGIM registered investment companies. PGIM Fixed Income is a unit of PGIM, a registered investment advisor. PGIM Limited acts as a subadvisor to all fixed income funds. PGIM Limited is an indirect, wholly owned subsidiary of PGIM, Inc. (PGIM), the principal asset management business of Prudential Financial, Inc. (PFI), a company incorporated and with its principal place of business in the United States. All are Prudential Financial affiliates. © 2025 Prudential Financial, Inc. and its related entities. PGIM, PGIM Investments, PGIM Fixed Income, PGIM Limited, and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.
This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. The information is not intended as investment advice and is not a recommendation. Clients seeking information regarding their particular investment needs should contact their financial professional.
INVESTMENT PRODUCTS | Are not insured by the FDIC or any federal government agency | May lose value | Are not a deposit of or guaranteed by any bank or any bank affiliate.
Prudential Financial, Inc. of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom.
4072323 Ed. 12/2024
|
Security ID# (CUSIP/SEDOL)
|
Security Description
|
Ticker Symbol
|
Coupon Rate
|
Maturity Date
|
Shares/Notional
|
Value ($)
|
% of Portfolio
|
|---|---|---|---|---|---|---|---|
| 91282CNK3 | United States Treasury Note/bond | T | 3.88 | 06/30/2030 | 211,225,000.00 | 212,528,654.00 | 4.14 |
| 74440W862 | (pipa070) Pgim Core Government Money Mar | — | 4.23 | 12/01/2099 | 66,897,488.00 | 66,897,487.00 | 1.30 |
| 92840VAF9 | Vistra Operations Co Llc | VST | 5.0 | 07/31/2027 | 58,096,000.00 | 58,023,826.00 | 1.13 |
| 91282CMZ1 | United States Treasury Note/bond | T | 3.88 | 04/30/2030 | 50,150,000.00 | 50,471,273.00 | 0.98 |
| 88033GDR8 | Tenet Healthcare Corp | THC | 4.38 | 01/15/2030 | 50,175,000.00 | 48,813,598.00 | 0.95 |
| 69344A834 | PGIM Aaa Clo Etf | PAAA | — | — | 925,000.00 | 47,637,500.00 | 0.93 |
| 62482BAA0 | Medline Borrower Lp | MEDIND | 3.88 | 04/01/2029 | 49,255,000.00 | 47,530,912.00 | 0.93 |
| 23918KAS7 | Davita Inc | DVA | 4.63 | 06/01/2030 | 49,138,000.00 | 47,067,386.00 | 0.92 |
| BL5159126 | Radiate Holdco Llc | RADIAT | 7.93 | 09/25/2029 | 54,615,941.00 | 43,920,337.00 | 0.86 |
| 449691AC8 | MAYA Sas/paris France | ILDFP | 7.0 | 10/15/2028 | 42,994,000.00 | 43,629,021.00 | 0.85 |
| 91327TAA9 | Uniti Group Lp / Uniti Group Finance 201 | UNIT | 10.5 | 02/15/2028 | 41,286,000.00 | 43,453,515.00 | 0.85 |
| 443628AJ1 | Hudbay Minerals Inc | HBMCN | 4.5 | 04/01/2026 | 42,634,000.00 | 42,442,147.00 | 0.83 |
| 35906ABE7 | Frontier Communications Holdings Llc | FYBR | 5.88 | 10/15/2027 | 41,016,000.00 | 41,019,979.00 | 0.80 |
| 25470XAY1 | DISH Dbs Corp | DISH | 7.75 | 07/01/2026 | 38,800,000.00 | 38,518,424.00 | 0.75 |
| 44267DAD9 | Howard Hughes Corp/the | HHH | 5.38 | 08/01/2028 | 38,463,000.00 | 38,390,672.00 | 0.75 |
| 00175PAB9 | AMN Healthcare Inc | AMN | 4.63 | 10/01/2027 | 38,519,000.00 | 38,505,853.00 | 0.75 |
| BL4070472 | CSC Holdings Llc | CSCHLD | 8.65 | 01/18/2028 | 36,256,853.00 | 35,984,926.00 | 0.70 |
| 1248EPBT9 | CCO Holdings Llc / Cco Holdings Capital | CHTR | 5.13 | 05/01/2027 | 34,254,000.00 | 34,039,831.00 | 0.66 |
| 57701RAJ1 | Mattamy Group Corp | MATHOM | 5.25 | 12/15/2027 | 33,644,000.00 | 33,410,510.00 | 0.65 |
| BL4883627 | Mcafee Corp | MCFE | 6.55 | 03/01/2029 | 34,840,045.00 | 33,156,121.00 | 0.65 |
| 78410GAD6 | SBA Communications Corp | SBAC | 3.88 | 02/15/2027 | 33,534,000.00 | 33,022,499.00 | 0.64 |
| 12769GAA8 | Caesars Entertainment Inc | CZR | 4.63 | 10/15/2029 | 34,115,000.00 | 32,614,187.00 | 0.64 |
| 880349AU9 | Tenneco Inc | TENINC | 8.0 | 11/17/2028 | 32,022,000.00 | 32,064,156.00 | 0.62 |
| BL4756492 | Asurion Llc | ASUCOR | 8.57 | 09/19/2030 | 30,922,279.00 | 30,786,994.00 | 0.60 |
| 146869AN2 | Carvana Co | CVNA | 9.0 | 06/01/2030 | 28,685,000.00 | 30,012,378.00 | 0.58 |
| CURRENCY | Currency | — | — | — | 29,009,671.00 | 29,017,698.00 | 0.57 |
| 1248EPBR3 | CCO Holdings Llc / Cco Holdings Capital | CHTR | 5.5 | 05/01/2026 | 28,951,000.00 | 28,950,955.00 | 0.56 |
| 91282CNG2 | United States Treasury Note/bond | T | 4.0 | 05/31/2030 | 27,650,000.00 | 27,976,183.00 | 0.55 |
| 629377CH3 | NRG Energy Inc | NRG | 5.25 | 06/15/2029 | 27,775,000.00 | 27,705,723.00 | 0.54 |
| 11283YAB6 | Brookfield Residential Properties Inc / | BRPCN | 6.25 | 09/15/2027 | 27,089,000.00 | 27,018,026.00 | 0.53 |
| BL4789857 | Trident Tpi Holdings Inc | TEKNI | 8.05 | 09/15/2028 | 27,929,034.00 | 27,348,640.00 | 0.53 |
| 92332YAC5 | Venture Global Lng Inc | VENLNG | 9.5 | 02/01/2029 | 24,176,000.00 | 26,656,194.00 | 0.52 |
| 097751BX8 | Bombardier Inc | BBDBCN | 6.0 | 02/15/2028 | 26,567,000.00 | 26,583,205.00 | 0.52 |
| 35906ABF4 | Frontier Communications Holdings Llc | FYBR | 5.0 | 05/01/2028 | 26,737,000.00 | 26,678,653.00 | 0.52 |
| 42704LAA2 | HERC Holdings Inc | HRI | 5.5 | 07/15/2027 | 26,641,000.00 | 26,580,272.00 | 0.52 |
| 78466CAC0 | SS&C Technologies Inc | SSNC | 5.5 | 09/30/2027 | 24,250,000.00 | 24,249,515.00 | 0.47 |
| 853496AG2 | Standard Industries Inc/ny | BMCAUS | 4.38 | 07/15/2030 | 25,225,000.00 | 24,190,962.00 | 0.47 |
| 89616RAC3 | Trident Tpi Holdings Inc | TEKNI | 12.75 | 12/31/2028 | 22,115,000.00 | 23,606,513.00 | 0.46 |
| 045086AM7 | Ashton Woods Usa Llc / Ashton Woods Fina | ASHWOO | 4.63 | 08/01/2029 | 24,382,000.00 | 23,440,106.00 | 0.46 |
| 16308NAA2 | Olympus Water Us Holding Corp | SOLEIN | 7.13 | 10/01/2027 | 22,064,000.00 | 22,467,463.00 | 0.44 |
| 552953CF6 | MGM Resorts International | MGM | 5.5 | 04/15/2027 | 22,250,000.00 | 22,390,579.00 | 0.44 |
| 87265HAF6 | TRI Pointe Homes Inc | TPH | 5.25 | 06/01/2027 | 21,693,000.00 | 21,697,520.00 | 0.42 |
| 90932LAG2 | United Airlines Inc | UAL | 4.38 | 04/15/2026 | 21,132,000.00 | 21,095,257.00 | 0.41 |
| 05508WAB1 | B&G Foods Inc | BGS | 5.25 | 09/15/2027 | 21,526,000.00 | 20,812,018.00 | 0.41 |
| 00653VAA9 | Adapthealth Llc | ADAHEA | 6.13 | 08/01/2028 | 20,850,000.00 | 20,828,488.00 | 0.41 |
| 00081TAK4 | ACCO Brands Corp | ACCO | 4.25 | 03/15/2029 | 22,623,000.00 | 20,446,940.00 | 0.40 |
| 53523LAA8 | Lindblad Expeditions Llc | LIND | 6.75 | 02/15/2027 | 20,525,000.00 | 20,662,970.00 | 0.40 |
| BL4871903 | Acrisure Llc | ACRISU | 7.36 | 11/06/2030 | 20,372,187.00 | 20,321,256.00 | 0.40 |
| 77313LAA1 | Rocket Mortgage Llc / Rocket Mortgage Co | RKT | 2.88 | 10/15/2026 | 20,819,000.00 | 20,412,878.00 | 0.40 |
| 88033GDM9 | Tenet Healthcare Corp | THC | 4.25 | 06/01/2029 | 20,275,000.00 | 19,797,727.00 | 0.39 |
| 63861CAC3 | Nationstar Mortgage Holdings Inc | COOP | 5.5 | 08/15/2028 | 20,195,000.00 | 20,195,000.00 | 0.39 |
| 345397B77 | FORD Motor Credit Co Llc | F | 2.7 | 08/10/2026 | 20,425,000.00 | 20,084,589.00 | 0.39 |
| 07556QBR5 | Beazer Homes Usa Inc | BZH | 5.88 | 10/15/2027 | 20,212,000.00 | 20,193,617.00 | 0.39 |
| 12769GAB6 | Caesars Entertainment Inc | CZR | 7.0 | 02/15/2030 | 19,499,000.00 | 20,059,340.00 | 0.39 |
| 131347CN4 | Calpine Corp | CPN | 5.13 | 03/15/2028 | 19,970,000.00 | 19,975,374.00 | 0.39 |
| 36170JAC0 | GGAM Finance Ltd | GGAMFI | 8.0 | 02/15/2027 | 18,905,000.00 | 19,353,993.00 | 0.38 |
| 364760AP3 | GAP Inc/the | GAP | 3.63 | 10/01/2029 | 20,950,000.00 | 19,598,632.00 | 0.38 |
| 70137TAP0 | Parkland Corp | PKICN | 5.88 | 07/15/2027 | 19,798,000.00 | 19,739,595.00 | 0.38 |
| 92840VAH5 | Vistra Operations Co Llc | VST | 4.38 | 05/01/2029 | 19,490,000.00 | 19,088,059.00 | 0.37 |
| 62886EAY4 | NCR Voyix Corp | VYX | 5.0 | 10/01/2028 | 18,655,000.00 | 18,376,974.00 | 0.36 |
| 131347CM6 | Calpine Corp | CPN | 4.5 | 02/15/2028 | 18,785,000.00 | 18,712,724.00 | 0.36 |
| 20752TAB0 | Connect Finco Sarl / Connect Us Finco Ll | ISATLN | 9.0 | 09/15/2029 | 17,596,000.00 | 18,503,953.00 | 0.36 |
| BL5117652 | Acrisure Llc | ACRISU | 6.32 | 06/20/2032 | 18,520,678.00 | 18,497,527.00 | 0.36 |
| 91282CLX7 | United States Treasury Note/bond | T | 4.13 | 11/15/2027 | 18,000,000.00 | 18,185,625.00 | 0.35 |
| BL4645844 | Doncasters Finance Us Llc | DONCAS | 10.8 | 04/23/2030 | 17,744,775.00 | 17,922,222.00 | 0.35 |
| 7846ELAD9 | SNF Group Saca | SNFF | 3.13 | 03/15/2027 | 18,392,000.00 | 17,932,200.00 | 0.35 |
| 74165HAC2 | Prime Healthcare Services Inc | PRIHEA | 9.38 | 09/01/2029 | 16,795,000.00 | 17,472,084.00 | 0.34 |
| 914906AY8 | Univision Communications Inc | UVN | 8.0 | 08/15/2028 | 16,915,000.00 | 17,522,913.00 | 0.34 |
| 21873SAB4 | Coreweave Inc | CRWV | 9.25 | 06/01/2030 | 16,665,000.00 | 17,210,708.00 | 0.34 |
| BL5176344 | Digicel Intl Finance Ltd | DLLTD | 7.57 | 07/30/2032 | 17,580,000.00 | 17,558,025.00 | 0.34 |
| 22303XAA3 | Reworld Holding Corp | CVA | 4.88 | 12/01/2029 | 18,180,000.00 | 17,120,631.00 | 0.33 |
| 25259KAA8 | Olympus Water Us Holding Corp | SOLEIN | 9.75 | 11/15/2028 | 15,990,000.00 | 16,778,025.00 | 0.33 |
| 98313RAD8 | WYNN Macau Ltd | WYNMAC | 5.5 | 10/01/2027 | 17,000,000.00 | 16,991,500.00 | 0.33 |
| BL4417558 | CLUE Opco Llc | FWRD | 8.81 | 12/19/2030 | 17,109,196.00 | 17,023,649.00 | 0.33 |
| 707569AS8 | PENN Entertainment Inc | PENN | 5.63 | 01/15/2027 | 16,883,000.00 | 16,877,960.00 | 0.33 |
| 651229BF2 | Newell Brands Inc | NWL | 6.38 | 05/15/2030 | 17,265,000.00 | 17,111,081.00 | 0.33 |
| 654744AC5 | Nissan Motor Co Ltd | NSANY | 4.35 | 09/17/2027 | 16,930,000.00 | 16,603,674.00 | 0.32 |
| 85571BAY1 | Starwood Property Trust Inc | STWD | 4.38 | 01/15/2027 | 16,420,000.00 | 16,281,758.00 | 0.32 |
| 92332YAF8 | Venture Global Lng Inc | VENLNG | 9.0 | 03/30/2173 | 16,445,000.00 | 16,281,734.00 | 0.32 |
| 335934AV7 | First Quantum Minerals Ltd | FMCN | 9.38 | 03/01/2029 | 15,459,000.00 | 16,352,530.00 | 0.32 |
| 35640YAJ6 | Freedom Mortgage Corp | FREMOR | 6.63 | 01/15/2027 | 16,050,000.00 | 16,092,678.00 | 0.31 |
| 57763RAD9 | Mauser Packaging Solutions Holding Co | BWY | 7.88 | 04/15/2027 | 15,865,000.00 | 16,040,405.00 | 0.31 |
| 445587AE8 | HUNT Cos Inc | HUNTCO | 5.25 | 04/15/2029 | 16,375,000.00 | 15,958,302.00 | 0.31 |
| BL4622678 | Lumen Technologies Inc | LUMN | 6.78 | 04/15/2029 | 16,006,534.00 | 15,886,484.00 | 0.31 |
| 98379KAA0 | XPO Inc | XPO | 6.25 | 06/01/2028 | 14,875,000.00 | 15,173,966.00 | 0.30 |
| 58506DAA6 | Medline Borrower Lp/medline Co-issuer In | MEDIND | 6.25 | 04/01/2029 | 14,860,000.00 | 15,251,973.00 | 0.30 |
| 013092AC5 | Albertsons Cos Inc / Safeway Inc / New A | ACI | 4.63 | 01/15/2027 | 15,225,000.00 | 15,143,328.00 | 0.30 |
| 019579AA9 | Allied Universal Holdco Llc/allied Unive | UNSEAM | 4.63 | 06/01/2028 | 15,116,000.00 | 14,790,552.00 | 0.29 |
| 527298CB7 | Level 3 Financing Inc | LVLT | 4.88 | 06/15/2029 | 15,855,000.00 | 15,028,228.00 | 0.29 |
| 38016LAA3 | GO Daddy Operating Co Llc / Gd Finance C | GDDY | 5.25 | 12/01/2027 | 15,010,000.00 | 14,985,745.00 | 0.29 |
| 315293308 | Ferrellgas Partners Lp | FGPRB | — | — | 100,126.00 | 14,903,394.00 | 0.29 |
| 77311WAA9 | Rocket Cos Inc | RKT | 6.13 | 08/01/2030 | 14,575,000.00 | 14,962,708.00 | 0.29 |
| 63938CAK4 | Navient Corp | NAVI | 5.0 | 03/15/2027 | 14,848,000.00 | 14,790,637.00 | 0.29 |
| 70932MAB3 | Pennymac Financial Services Inc | PFSI | 4.25 | 02/15/2029 | 15,600,000.00 | 15,105,374.00 | 0.29 |
| 733174AL0 | Popular Inc | BPOP | 7.25 | 03/13/2028 | 13,700,000.00 | 14,277,729.00 | 0.28 |
| 654922AB9 | Nissan Motor Co Ltd | NSANY | 7.5 | 07/17/2030 | 13,685,000.00 | 14,360,765.00 | 0.28 |
| 893830BY4 | Transocean International Ltd | RIG | 8.25 | 05/15/2029 | 14,705,000.00 | 14,504,276.00 | 0.28 |
| 303250AF1 | FAIR Isaac Corp | FAIRIC | 4.0 | 06/15/2028 | 14,676,000.00 | 14,275,165.00 | 0.28 |
| B8AC2XVL0 | Heritage Pwr Llc | — | — | — | 217,638.00 | 14,010,446.00 | 0.27 |
| BL4979144 | Mavis Tire Express Services Topco Corp | EOCGRO | 7.57 | 05/04/2028 | 13,252,952.00 | 13,238,758.00 | 0.26 |
| 92676XAF4 | Viking Cruises Ltd | VIKCRU | 7.0 | 02/15/2029 | 13,325,000.00 | 13,391,625.00 | 0.26 |
| 92840JAD1 | Vistajet Malta Finance Plc / Vista Manag | VSTJET | 7.88 | 05/01/2027 | 13,033,000.00 | 13,163,296.00 | 0.26 |
| 50190EAA2 | LCM Investments Holdings Ii Llc | MAGLLC | 4.88 | 05/01/2029 | 13,511,000.00 | 13,238,089.00 | 0.26 |
| 59833DAB6 | Midwest Gaming Borrower Llc / Midwest Ga | MWGAME | 4.88 | 05/01/2029 | 13,918,000.00 | 13,540,406.00 | 0.26 |
| 552953CH2 | MGM Resorts International | MGM | 4.75 | 10/15/2028 | 13,589,000.00 | 13,484,650.00 | 0.26 |
| 552953CD1 | MGM Resorts International | MGM | 4.63 | 09/01/2026 | 13,602,000.00 | 13,571,183.00 | 0.26 |
| 12687GAA7 | Cablevision Lightpath Llc | CVLGHT | 3.88 | 09/15/2027 | 13,680,000.00 | 13,281,383.00 | 0.26 |
| 143658BQ4 | Carnival Corp | CCL | 4.0 | 08/01/2028 | 13,000,000.00 | 12,770,832.00 | 0.25 |
| 62957HAJ4 | Nabors Industries Inc | NBR | 7.38 | 05/15/2027 | 12,478,000.00 | 12,669,853.00 | 0.25 |
| 29163VAG8 | Empire Communities Corp | EMPRCC | 9.75 | 05/01/2029 | 12,045,000.00 | 12,629,423.00 | 0.25 |
| 92769XAP0 | Virgin Media Secured Finance Plc | VMED | 5.5 | 05/15/2029 | 13,225,000.00 | 13,042,098.00 | 0.25 |
| BL4964625 | Boost Newco Borrower Llc | WRLDPY | 7.05 | 01/31/2031 | 12,922,071.00 | 12,922,071.00 | 0.25 |
| 749571AF2 | RHP Hotel Properties Lp / Rhp Finance Co | RHP | 4.75 | 10/15/2027 | 12,902,000.00 | 12,843,253.00 | 0.25 |
| 70052LAC7 | PARK Intermediate Holdings Llc / Pk Dome | PK | 4.88 | 05/15/2029 | 13,050,000.00 | 12,720,176.00 | 0.25 |
| 69331CAH1 | PG&E Corp | PCG | 5.0 | 07/01/2028 | 12,904,000.00 | 12,783,098.00 | 0.25 |
| 86765KAA7 | Sunoco Lp / Sunoco Finance Corp | SUN | 7.0 | 09/15/2028 | 12,695,000.00 | 13,082,881.00 | 0.25 |
| 68622TAA9 | Organon & Co / Organon Foreign Debt Co-i | OGN | 4.13 | 04/30/2028 | 12,608,000.00 | 12,181,894.00 | 0.24 |
| 69354NAE6 | PRA Group Inc | PRAA | 8.38 | 02/01/2028 | 12,050,000.00 | 12,354,615.00 | 0.24 |
| 67111BAN0 | OFSI Bsl Ix Ltd | OFSBS | 5.51 | 07/15/2031 | 12,476,049.00 | 12,485,237.00 | 0.24 |
| BL4808012 | TPC Group Inc | TPCG | 9.95 | 11/21/2031 | 12,611,625.00 | 12,170,218.00 | 0.24 |
| 92921EAA0 | Voyager Parent Llc | EVRI | 9.25 | 07/01/2032 | 11,450,000.00 | 12,108,393.00 | 0.24 |
| 90932LAH0 | United Airlines Inc | UAL | 4.63 | 04/15/2029 | 12,400,000.00 | 12,215,860.00 | 0.24 |
| 50168AAA8 | LABL Inc | LABL | 10.5 | 07/15/2027 | 14,710,000.00 | 12,171,325.00 | 0.24 |
| 26884LBH1 | EQT Corp | EQT | 7.5 | 06/01/2027 | 11,784,000.00 | 12,018,387.00 | 0.23 |
| 04364VAK9 | Ascent Resources Utica Holdings Llc / Ar | ASCRES | 9.0 | 11/01/2027 | 9,709,000.00 | 11,692,611.00 | 0.23 |
| 053773BE6 | AVIS Budget Car Rental Llc / Avis Budget | CAR | 5.75 | 07/15/2027 | 12,078,000.00 | 12,042,708.00 | 0.23 |
| B8AC6L2G5 | Hurricane Cleanco Limited | — | 6.25 | 10/31/2029 | 8,255,752.00 | 11,734,931.00 | 0.23 |
| 63938CAL2 | Navient Corp | NAVI | 4.88 | 03/15/2028 | 12,240,000.00 | 12,016,455.00 | 0.23 |
| 638962AA8 | NCR Atleos Corp | NCRATL | 9.5 | 04/01/2029 | 11,006,000.00 | 11,916,506.00 | 0.23 |
| 670001AE6 | Novelis Corp | HNDLIN | 4.75 | 01/30/2030 | 11,605,000.00 | 11,199,588.00 | 0.22 |
| 682691AC4 | Onemain Finance Corp | OMF | 3.88 | 09/15/2028 | 11,633,000.00 | 11,183,370.00 | 0.22 |
| BL4680841 | Clarios Global Lp | POWSOL | 6.82 | 05/06/2030 | 11,369,349.00 | 11,350,395.00 | 0.22 |
| 91832VAA2 | VOC Escrow Ltd | VIKCRU | 5.0 | 02/15/2028 | 11,350,000.00 | 11,307,437.00 | 0.22 |
| 18064PAC3 | Clarivate Science Holdings Corp | CLVTSC | 3.88 | 07/01/2028 | 11,960,000.00 | 11,523,484.00 | 0.22 |
| 346232AE1 | Forestar Group Inc | FOR | 5.0 | 03/01/2028 | 11,400,000.00 | 11,301,035.00 | 0.22 |
| 42704LAF1 | HERC Holdings Inc | HRI | 7.0 | 06/15/2030 | 10,865,000.00 | 11,286,829.00 | 0.22 |
| BMYGPJ1 | Preem Holdings Ab | PREEM | 12.0 | 06/30/2027 | 9,360,000.00 | 11,359,550.00 | 0.22 |
| 31556TAC3 | Fertitta Entertainment Llc / Fertitta En | FRTITA | 6.75 | 01/15/2030 | 11,339,000.00 | 10,648,184.00 | 0.21 |
| 25470MAG4 | DISH Network Corp | DISH | 11.75 | 11/15/2027 | 10,000,000.00 | 10,584,375.00 | 0.21 |
| 05552BAA4 | LBM Acquisition Llc | USLBMH | 6.25 | 01/15/2029 | 11,830,000.00 | 10,955,795.00 | 0.21 |
| 08949LAB6 | BIG River Steel Llc / Brs Finance Corp | BIGBRS | 6.63 | 01/31/2029 | 10,701,000.00 | 10,714,689.00 | 0.21 |
| 031921AC3 | Amwins Group Inc | AMWINS | 6.38 | 02/15/2029 | 10,688,000.00 | 10,898,684.00 | 0.21 |
| 983130AX3 | WYNN Las Vegas Llc / Wynn Las Vegas Capi | WYNNLV | 5.25 | 05/15/2027 | 10,800,000.00 | 10,791,823.00 | 0.21 |
| B8ADAMRM6 | International Park Hldgs Bv | — | 7.29 | 12/31/2031 | 9,350,000.00 | 10,785,263.00 | 0.21 |
| 68245XAM1 | 1011778 Bc Ulc / New Red Finance Inc | BCULC | 4.0 | 10/15/2030 | 11,635,000.00 | 10,951,443.00 | 0.21 |
| 87724RAA0 | Taylor Morrison Communities Inc | TMHC | 5.88 | 06/15/2027 | 10,841,000.00 | 10,972,040.00 | 0.21 |
| 854938AA5 | STAR Leasing Co Llc | TRAILR | 7.63 | 02/15/2030 | 11,115,000.00 | 10,798,476.00 | 0.21 |
| 77340RAT4 | Rockies Express Pipeline Llc | ROCKIE | 4.8 | 05/15/2030 | 10,745,000.00 | 10,469,168.00 | 0.20 |
| 82088KAK4 | SHEA Homes Lp / Shea Homes Funding Corp | SHEAHM | 4.75 | 02/15/2028 | 10,625,000.00 | 10,515,529.00 | 0.20 |
| 861036AB7 | STL Holding Co Llc | DSLDHM | 8.75 | 02/15/2029 | 9,587,000.00 | 10,102,045.00 | 0.20 |
| BL4985588 | Athenahealth Group Inc | ATHENA | 8.31 | 02/15/2029 | 10,540,391.00 | 10,506,514.00 | 0.20 |
| 92564RAH8 | VICI Properties Lp / Vici Note Co Inc | VICI | 4.5 | 09/01/2026 | 10,120,000.00 | 10,119,301.00 | 0.20 |
| 92676XAD9 | Viking Cruises Ltd | VIKCRU | 5.88 | 09/15/2027 | 10,410,000.00 | 10,410,416.00 | 0.20 |
| 00489LAK9 | Acrisure Llc / Acrisure Finance Inc | ACRISU | 8.25 | 02/01/2029 | 9,711,000.00 | 10,137,122.00 | 0.20 |
| 17302XAM8 | Citgo Petroleum Corp | CITPET | 6.38 | 06/15/2026 | 10,350,000.00 | 10,350,049.00 | 0.20 |
| 431318AU8 | Hilcorp Energy I Lp / Hilcorp Finance Co | HILCRP | 5.75 | 02/01/2029 | 10,303,000.00 | 10,169,226.00 | 0.20 |
| 36168QAP9 | GFL Environmental Inc | GFLCN | 4.38 | 08/15/2029 | 10,471,000.00 | 10,203,675.00 | 0.20 |
| 603051AE3 | Mineral Resources Ltd | MINAU | 9.25 | 10/01/2028 | 9,683,000.00 | 10,143,910.00 | 0.20 |
| 62886HBP5 | NCL Corp Ltd | NCLH | 6.25 | 03/01/2030 | 9,715,000.00 | 9,824,099.00 | 0.19 |
| 629377CE0 | NRG Energy Inc | NRG | 5.75 | 01/15/2028 | 9,899,000.00 | 9,919,084.00 | 0.19 |
| 57779EAA6 | Maxim Crane Works Holdings Capital Llc | CLDCRN | 11.5 | 09/01/2028 | 9,365,000.00 | 9,934,606.00 | 0.19 |
| 50050NAA1 | Kontoor Brands Inc | KTB | 4.13 | 11/15/2029 | 10,306,000.00 | 9,780,783.00 | 0.19 |
| 36170JAA4 | GGAM Finance Ltd | GGAMFI | 8.0 | 06/15/2028 | 9,175,000.00 | 9,721,371.00 | 0.19 |
| 35641AAA6 | Freedom Mortgage Holdings Llc | FREMOR | 9.25 | 02/01/2029 | 9,035,000.00 | 9,528,018.00 | 0.19 |
| 335934AU9 | First Quantum Minerals Ltd | FMCN | 8.63 | 06/01/2031 | 9,399,000.00 | 9,871,863.00 | 0.19 |
| 18972EAB1 | Clydesdale Acquisition Holdings Inc | NOVHOL | 8.75 | 04/15/2030 | 9,415,000.00 | 9,671,896.00 | 0.19 |
| 00253XAA9 | American Airlines Inc/aadvantage Loyalty | AAL | 5.5 | 04/20/2026 | 9,707,876.00 | 9,701,808.00 | 0.19 |
| 019576AF4 | Allied Universal Holdco Llc / Allied Uni | UNSEAM | 6.88 | 06/15/2030 | 9,585,000.00 | 9,856,960.00 | 0.19 |
| 097023DG7 | Boeing Co/the | BA | 2.2 | 02/04/2026 | 10,000,000.00 | 9,925,261.00 | 0.19 |
| 92840VAB8 | Vistra Operations Co Llc | VST | 5.63 | 02/15/2027 | 9,800,000.00 | 9,803,667.00 | 0.19 |
| BL4985299 | Boxer Parent Co Inc | BMC | 6.22 | 07/30/2031 | 9,866,681.00 | 9,848,180.00 | 0.19 |
| BL4813269 | Trans Union Llc | TRUN | 6.07 | 06/24/2031 | 9,577,967.00 | 9,572,833.00 | 0.19 |
| 64083YAA9 | Nesco Holdings Ii Inc | NSCO | 5.5 | 04/15/2029 | 10,050,000.00 | 9,838,197.00 | 0.19 |
| 69344A206 | PGIM Active High Yield Bond Etf | PHYL | — | — | 275,000.00 | 9,831,250.00 | 0.19 |
| 737446AP9 | POST Holdings Inc | POST | 5.5 | 12/15/2029 | 10,010,000.00 | 9,987,790.00 | 0.19 |
| SWZ9707Z0K | ICE: (cdx.na.hy.44.v1) | — | 5.0 | 06/20/2030 | 117,455,000.00 | 9,527,948.00 | 0.19 |
| 70137WAG3 | Parkland Corp | PKICN | 4.5 | 10/01/2029 | 9,550,000.00 | 9,279,353.00 | 0.18 |
| 69356MAA4 | PM General Purchaser Llc | AMGENE | 9.5 | 10/01/2028 | 10,375,000.00 | 9,013,069.00 | 0.18 |
| 681639AA8 | Olympus Water Us Holding Corp | SOLEIN | 4.25 | 10/01/2028 | 9,811,000.00 | 9,435,311.00 | 0.18 |
| 87470LAG6 | Tallgrass Energy Partners Lp / Tallgrass | TEP | 6.0 | 03/01/2027 | 9,092,000.00 | 9,092,000.00 | 0.18 |
| 880779BA0 | Terex Corp | TEX | 5.0 | 05/15/2029 | 9,635,000.00 | 9,488,318.00 | 0.18 |
| 893647BU0 | Transdigm Inc | TDG | 6.38 | 03/01/2029 | 8,910,000.00 | 9,113,816.00 | 0.18 |
| 92841HAA0 | Vistajet Malta Finance Plc / Vista Manag | VSTJET | 9.5 | 06/01/2028 | 8,862,000.00 | 9,223,037.00 | 0.18 |
| 92339LAA0 | Veritiv Operating Co | VRTV | 10.5 | 11/30/2030 | 8,415,000.00 | 9,031,845.00 | 0.18 |
| 05508WAC9 | B&G Foods Inc | BGS | 8.0 | 09/15/2028 | 9,605,000.00 | 9,311,818.00 | 0.18 |
| 058498AZ9 | BALL Corp | BALL | 6.0 | 06/15/2029 | 8,855,000.00 | 9,063,570.00 | 0.18 |
| 00653VAE1 | Adapthealth Llc | ADAHEA | 5.13 | 03/01/2030 | 9,497,000.00 | 9,062,626.00 | 0.18 |
| 233104AA6 | DCLI Bidco Llc | DIRCHA | 7.75 | 11/15/2029 | 9,025,000.00 | 9,379,682.00 | 0.18 |
| 126307AQ0 | CSC Holdings Llc | CSCHLD | 5.5 | 04/15/2027 | 9,571,000.00 | 9,088,772.00 | 0.18 |
| 109641AK6 | Brinker International Inc | EAT | 8.25 | 07/15/2030 | 8,500,000.00 | 9,006,003.00 | 0.18 |
| 431318AS3 | Hilcorp Energy I Lp / Hilcorp Finance Co | HILCRP | 6.25 | 11/01/2028 | 9,249,000.00 | 9,271,062.00 | 0.18 |
| 536797AG8 | Lithia Motors Inc | LAD | 3.88 | 06/01/2029 | 9,550,000.00 | 9,122,609.00 | 0.18 |
| 62886HBG5 | NCL Corp Ltd | NCLH | 7.75 | 02/15/2029 | 8,875,000.00 | 9,431,373.00 | 0.18 |
| 55342UAH7 | MPT Operating Partnership Lp / Mpt Finan | MPW | 5.0 | 10/15/2027 | 9,055,000.00 | 8,773,930.00 | 0.17 |
| 475795AD2 | Jeld-wen Inc | JELD | 4.88 | 12/15/2027 | 8,795,000.00 | 8,597,112.00 | 0.17 |
| 35908MAB6 | Frontier Communications Holdings Llc | FYBR | 6.0 | 01/15/2030 | 8,608,000.00 | 8,712,544.00 | 0.17 |
| 87724RAB8 | Taylor Morrison Communities Inc | TMHC | 5.75 | 01/15/2028 | 8,769,000.00 | 8,894,701.00 | 0.17 |
| 80874DAA4 | Scientific Games Holdings Lp/scientific | SCGALO | 6.63 | 03/01/2030 | 9,175,000.00 | 8,524,250.00 | 0.17 |
| 780153BK7 | Royal Caribbean Cruises Ltd | RCL | 5.38 | 07/15/2027 | 8,894,000.00 | 8,972,301.00 | 0.17 |
| 68245XAH2 | 1011778 Bc Ulc / New Red Finance Inc | BCULC | 3.88 | 01/15/2028 | 9,082,000.00 | 8,866,188.00 | 0.17 |
| 682691AJ9 | Onemain Finance Corp | OMF | 6.75 | 03/15/2032 | 8,400,000.00 | 8,536,217.00 | 0.17 |
| BL5042512 | Level 3 Financing Inc | LVLT | 6.77 | 03/29/2032 | 8,745,321.00 | 8,719,085.00 | 0.17 |
| SWZ9796YTF | ICE: (cdx.na.hy.45.v1) | — | 5.0 | 12/20/2030 | 107,410,000.00 | 8,310,356.00 | 0.16 |
| 63861CAA7 | Nationstar Mortgage Holdings Inc | COOP | 6.0 | 01/15/2027 | 8,175,000.00 | 8,175,000.00 | 0.16 |
| 74841CAA9 | Rocket Mortgage Llc / Rocket Mortgage Co | RKT | 3.63 | 03/01/2029 | 8,350,000.00 | 7,968,884.00 | 0.16 |
| 92332YAD3 | Venture Global Lng Inc | VENLNG | 9.88 | 02/01/2032 | 7,555,000.00 | 8,226,490.00 | 0.16 |
| BL4949832 | Clarios Global Lp | POWSOL | 7.82 | 01/28/2032 | 8,375,000.00 | 8,354,062.00 | 0.16 |
| BL3652478 | Skillsoft Finance Ii Inc | SKIL | 9.68 | 07/14/2028 | 9,212,543.00 | 8,122,395.00 | 0.16 |
| 25260WAD3 | Diamond Foreign Asset Co / Diamond Finan | DO | 8.5 | 10/01/2030 | 7,740,000.00 | 8,183,269.00 | 0.16 |
| 50168QAC9 | LABL Inc | LABL | 5.88 | 11/01/2028 | 10,900,000.00 | 8,449,270.00 | 0.16 |
| 460599AD5 | Brightstar Lottery Plc | IGT | 6.25 | 01/15/2027 | 8,400,000.00 | 8,452,500.00 | 0.16 |
| 55305BAS0 | M/I Homes Inc | MHO | 4.95 | 02/01/2028 | 8,350,000.00 | 8,302,805.00 | 0.16 |
| 13323AAB6 | Camelot Finance Sa | CCC | 4.5 | 11/01/2026 | 8,254,000.00 | 8,209,345.00 | 0.16 |
| 17888HAA1 | Civitas Resources Inc | CIVI | 8.38 | 07/01/2028 | 7,730,000.00 | 8,017,085.00 | 0.16 |
| 03969AAN0 | Ardagh Packaging Finance Plc / Ardagh Ho | ARGID | 4.13 | 08/15/2026 | 8,653,000.00 | 8,371,777.00 | 0.16 |
| 041242AA6 | ARKO Corp | ARKO | 5.13 | 11/15/2029 | 9,750,000.00 | 8,274,707.00 | 0.16 |
| 00810GAD6 | Aethon United Br Lp / Aethon United Fina | AETUNI | 7.5 | 10/01/2029 | 7,530,000.00 | 7,852,177.00 | 0.15 |
| 097751BV2 | Bombardier Inc | BBDBCN | 7.13 | 06/15/2026 | 7,464,000.00 | 7,459,335.00 | 0.15 |
| 235825AF3 | DANA Inc | DAN | 5.38 | 11/15/2027 | 7,525,000.00 | 7,520,890.00 | 0.15 |
| 23918KAT5 | Davita Inc | DVA | 3.75 | 02/15/2031 | 8,180,200.00 | 7,493,295.00 | 0.15 |
| 143658BY7 | Carnival Corp | CCL | 5.75 | 03/15/2030 | 7,776,000.00 | 7,931,520.00 | 0.15 |
| 55609NAC2 | Macquarie Airfinance Holdings Ltd | MCAIRH | 6.4 | 03/26/2029 | 7,100,000.00 | 7,460,723.00 | 0.15 |
| 55819JAN3 | Madison Park Funding Xxxiii Ltd | MDPK | 5.61 | 10/15/2032 | 7,451,593.00 | 7,460,181.00 | 0.15 |
| 62957HAP0 | Nabors Industries Inc | NBR | 9.13 | 01/31/2030 | 7,325,000.00 | 7,619,991.00 | 0.15 |
| 48666KAY5 | KB Home | KBH | 4.8 | 11/15/2029 | 7,758,000.00 | 7,676,053.00 | 0.15 |
| 53219LAU3 | Lifepoint Health Inc | RGCARE | 5.38 | 01/15/2029 | 8,275,000.00 | 7,918,174.00 | 0.15 |
| 92840VAA0 | Vistra Operations Co Llc | VST | 5.5 | 09/01/2026 | 7,892,000.00 | 7,890,255.00 | 0.15 |
| 98313RAH9 | WYNN Macau Ltd | WYNMAC | 5.63 | 08/26/2028 | 7,841,000.00 | 7,825,396.00 | 0.15 |
| 74843PAA8 | Quikrete Holdings Inc | QUIKHO | 6.38 | 03/01/2032 | 7,470,000.00 | 7,739,606.00 | 0.15 |
| 71880KAA9 | Phinia Inc | PHIN | 6.75 | 04/15/2029 | 7,250,000.00 | 7,479,262.00 | 0.15 |
| 83613HAL1 | Sound Point Clo Xxi Ltd | SNDPT | 5.61 | 10/26/2031 | 7,767,162.00 | 7,778,980.00 | 0.15 |
| 896215AH3 | Trimas Corp | TRS | 4.13 | 04/15/2029 | 8,090,000.00 | 7,823,322.00 | 0.15 |
| G2770C100 | Digicel Intl Fin Ltd Common Equity | — | — | — | 475,786.00 | 7,929,925.00 | 0.15 |
| 857691AG4 | Station Casinos Llc | RRR | 4.5 | 02/15/2028 | 7,175,000.00 | 7,054,282.00 | 0.14 |
| 85172FAR0 | Onemain Finance Corp | OMF | 5.38 | 11/15/2029 | 7,250,000.00 | 7,177,592.00 | 0.14 |
| 81725WAK9 | Sensata Technologies Bv | ST | 4.0 | 04/15/2029 | 7,400,000.00 | 7,102,298.00 | 0.14 |
| B8AB393F8 | TPC Group Rights | — | — | — | 319,092.00 | 7,359,059.00 | 0.14 |
| BL3543891 | Connect Finco Sarl | IMASF | 7.82 | 12/11/2026 | 7,042,003.00 | 7,024,398.00 | 0.14 |
| 601137AA0 | Millrose Properties Inc | MRP | 6.38 | 08/01/2030 | 6,985,000.00 | 7,107,613.00 | 0.14 |
| 35906ABG2 | Frontier Communications Holdings Llc | FYBR | 6.75 | 05/01/2029 | 6,925,000.00 | 6,994,703.00 | 0.14 |
| 39807UAD8 | Greystar Real Estate Partners Llc | GRSTAR | 7.75 | 09/01/2030 | 6,709,000.00 | 7,083,643.00 | 0.14 |
| 235825AG1 | DANA Inc | DAN | 5.63 | 06/15/2028 | 7,375,000.00 | 7,374,104.00 | 0.14 |
| 071734AN7 | Bausch Health Cos Inc | BHCCN | 4.88 | 06/01/2028 | 7,834,000.00 | 7,021,222.00 | 0.14 |
| 07556QBT1 | Beazer Homes Usa Inc | BZH | 7.25 | 10/15/2029 | 6,417,000.00 | 6,525,705.00 | 0.13 |
| 185899AN1 | Cleveland-cliffs Inc | CLF | 6.75 | 04/15/2030 | 6,525,000.00 | 6,618,023.00 | 0.13 |
| 45344LAC7 | Crescent Energy Finance Llc | CRGYFN | 9.25 | 02/15/2028 | 6,565,000.00 | 6,827,792.00 | 0.13 |
| BL3856764 | Viasat Inc | VSAT | 8.93 | 03/02/2029 | 6,592,752.00 | 6,500,730.00 | 0.13 |
| BL4846426 | Cimpress Plc | CMPR | 8.57 | 05/17/2028 | 6,897,320.00 | 6,862,833.00 | 0.13 |
| BL4766657 | Windstream Services Llc | UNIT | 9.17 | 10/06/2031 | 6,500,000.00 | 6,516,250.00 | 0.13 |
| 98379JAA3 | RXO Inc | RXO | 7.5 | 11/15/2027 | 6,345,000.00 | 6,474,373.00 | 0.13 |
| 79546VAQ9 | Sally Holdings Llc / Sally Capital Inc | SBH | 6.75 | 03/01/2032 | 6,535,000.00 | 6,788,751.00 | 0.13 |
| 86765LAQ0 | Sunoco Lp / Sunoco Finance Corp | SUN | 6.0 | 04/15/2027 | 6,575,000.00 | 6,576,285.00 | 0.13 |
| 896522AJ8 | Trinity Industries Inc | TRN | 7.75 | 07/15/2028 | 6,635,000.00 | 6,867,661.00 | 0.13 |
| 88642RAE9 | Tidewater Inc | TDW | 9.13 | 07/15/2030 | 6,350,000.00 | 6,806,103.00 | 0.13 |
| 69354NAF3 | PRA Group Inc | PRAA | 8.88 | 01/31/2030 | 6,568,000.00 | 6,778,858.00 | 0.13 |
| 70082LAC1 | PARK River Holdings Inc | PRIMBP | 8.0 | 03/15/2031 | 6,700,000.00 | 6,788,162.00 | 0.13 |
| 65480CAK1 | Nissan Motor Acceptance Co Llc | NSANY | 5.63 | 09/29/2028 | 6,635,000.00 | 6,639,620.00 | 0.13 |
| 68245XAJ8 | 1011778 Bc Ulc / New Red Finance Inc | BCULC | 4.38 | 01/15/2028 | 7,025,000.00 | 6,902,062.00 | 0.13 |
| BL5229192 | NCR Atleos Corp | NCRATL | 3.0 | 04/16/2029 | 6,926,933.00 | 6,926,933.00 | 0.13 |
| 65505PAA5 | Noble Finance Ii Llc | NEFINA | 8.0 | 04/15/2030 | 5,950,000.00 | 6,159,199.00 | 0.12 |
| 70052LAB9 | PARK Intermediate Holdings Llc / Pk Dome | PK | 5.88 | 10/01/2028 | 6,187,000.00 | 6,179,177.00 | 0.12 |
| 88830MAM4 | Titan International Inc | TWI | 7.0 | 04/30/2028 | 6,000,000.00 | 6,009,915.00 | 0.12 |
| 85172FAN9 | Onemain Finance Corp | OMF | 7.13 | 03/15/2026 | 6,222,000.00 | 6,286,909.00 | 0.12 |
| 85172FAQ2 | Onemain Finance Corp | OMF | 6.63 | 01/15/2028 | 6,036,000.00 | 6,182,109.00 | 0.12 |
| 98927UAA5 | Zegona Finance Plc | ZEGLN | 8.63 | 07/15/2029 | 5,580,000.00 | 5,940,356.00 | 0.12 |
| BL4799294 | Xplore Inc/nb | BARXPL | 6.0 | 10/24/2031 | 9,160,741.00 | 6,298,009.00 | 0.12 |
| 469815AL8 | Jacobs Entertainment Inc | JACENT | 6.75 | 02/15/2029 | 6,575,000.00 | 6,385,527.00 | 0.12 |
| 59155LAA0 | Mavis Tire Express Services Topco Corp | EOCGRO | 6.5 | 05/15/2029 | 6,418,000.00 | 6,388,529.00 | 0.12 |
| 62886HBR1 | NCL Corp Ltd | NCLH | 6.75 | 02/01/2032 | 5,840,000.00 | 6,007,900.00 | 0.12 |
| 398433AP7 | Griffon Corp | GFF | 5.75 | 03/01/2028 | 6,375,000.00 | 6,371,282.00 | 0.12 |
| 380355AH0 | Goeasy Ltd | GSYCN | 9.25 | 12/01/2028 | 5,834,000.00 | 6,089,237.00 | 0.12 |
| 380355AJ6 | Goeasy Ltd | GSYCN | 7.63 | 07/01/2029 | 5,865,000.00 | 5,946,875.00 | 0.12 |
| 143658CA8 | Carnival Corp | CCL | 5.75 | 08/01/2032 | 6,000,000.00 | 6,103,380.00 | 0.12 |
| 097793AE3 | Civitas Resources Inc | CIVI | 5.0 | 10/15/2026 | 6,225,000.00 | 6,203,642.00 | 0.12 |
| 17888HAC7 | Civitas Resources Inc | CIVI | 8.63 | 11/01/2030 | 5,450,000.00 | 5,641,270.00 | 0.11 |
| 053773BC0 | AVIS Budget Car Rental Llc / Avis Budget | CAR | 5.75 | 07/15/2027 | 5,699,000.00 | 5,678,433.00 | 0.11 |
| 049362AA4 | Allied Universal Holdco Llc/allied Unive | UNSEAM | 4.63 | 06/01/2028 | 5,525,000.00 | 5,415,163.00 | 0.11 |
| 00687YAB1 | Adient Global Holdings Ltd | ADNT | 7.0 | 04/15/2028 | 5,541,000.00 | 5,674,593.00 | 0.11 |
| 019576AD9 | Allied Universal Holdco Llc | UNSEAM | 7.88 | 02/15/2031 | 5,600,000.00 | 5,874,595.00 | 0.11 |
| 36168QAL8 | GFL Environmental Inc | GFLCN | 4.0 | 08/01/2028 | 6,020,000.00 | 5,877,025.00 | 0.11 |
| 35640YAL1 | Freedom Mortgage Corp | FREMOR | 12.25 | 10/01/2030 | 5,000,000.00 | 5,576,222.00 | 0.11 |
| 21979LAB2 | Coronado Finance Pty Ltd | CRNAU | 9.25 | 10/01/2029 | 6,600,000.00 | 5,758,500.00 | 0.11 |
| 27034RAA1 | Permian Resources Operating Llc | PR | 8.0 | 04/15/2027 | 5,480,000.00 | 5,571,465.00 | 0.11 |
| 553283AG7 | MPH Acquisition Holdings Llc | MLTPLN | 5.75 | 12/31/2030 | 6,187,258.00 | 5,400,400.00 | 0.11 |
| 92332YAE1 | Venture Global Lng Inc | VENLNG | 7.0 | 01/15/2030 | 5,445,000.00 | 5,635,465.00 | 0.11 |
| 852234AT0 | Block Inc | XYZ | 5.63 | 08/15/2030 | 5,580,000.00 | 5,651,987.00 | 0.11 |
| 853496AD9 | Standard Industries Inc/ny | BMCAUS | 4.75 | 01/15/2028 | 5,600,000.00 | 5,553,926.00 | 0.11 |
| 85571BBB0 | Starwood Property Trust Inc | STWD | 7.25 | 04/01/2029 | 5,300,000.00 | 5,565,551.00 | 0.11 |
| 89157UAA5 | Toucan Finco Ltd/toucan Finco Can Inc/to | TOUCAN | 9.5 | 05/15/2030 | 5,725,000.00 | 5,606,378.00 | 0.11 |
| 66977WAV1 | NOVA Chemicals Corp | NCX | 7.0 | 12/01/2031 | 5,490,000.00 | 5,783,275.00 | 0.11 |
| BMGB6F7 | Ardagh Packaging Finance Plc / Ardagh Ho | ARGID | 2.13 | 08/15/2026 | 4,750,000.00 | 5,417,242.00 | 0.11 |
| BL5118916 | Bingo Holdings I Llc | AGS | 11.55 | 06/14/2032 | 5,225,000.00 | 5,216,289.00 | 0.10 |
| 69306RAB2 | P&L Development Llc / Pld Finance Corp | PLDEVE | 12.0 | 05/15/2029 | 4,906,160.00 | 5,079,904.00 | 0.10 |
| 70932MAD9 | Pennymac Financial Services Inc | PFSI | 7.88 | 12/15/2029 | 4,617,000.00 | 4,900,612.00 | 0.10 |
| 740212AM7 | Precision Drilling Corp | PDCN | 6.88 | 01/15/2029 | 5,000,000.00 | 5,011,750.00 | 0.10 |
| 74841CAB7 | Rocket Mortgage Llc / Rocket Mortgage Co | RKT | 3.88 | 03/01/2031 | 5,600,000.00 | 5,231,806.00 | 0.10 |
| 87470LAL5 | Tallgrass Energy Partners Lp / Tallgrass | TEP | 7.38 | 02/15/2029 | 5,170,000.00 | 5,325,597.00 | 0.10 |
| 893830BX6 | Transocean International Ltd | RIG | 8.75 | 02/15/2030 | 5,118,750.00 | 5,381,085.00 | 0.10 |
| BL3925031 | IRIS Holding Inc | ITPCN | 9.16 | 06/28/2028 | 5,267,057.00 | 5,102,461.00 | 0.10 |
| B8ADRJ0H5 | Clubcorp Holdings Inc | — | 9.33 | 04/30/2032 | 5,071,492.00 | 5,029,905.00 | 0.10 |
| 603051AA1 | Mineral Resources Ltd | MINAU | 8.13 | 05/01/2027 | 5,070,000.00 | 5,070,000.00 | 0.10 |
| 469815AK0 | Jacobs Entertainment Inc | JACENT | 6.75 | 02/15/2029 | 5,150,000.00 | 5,024,178.00 | 0.10 |
| 34966MAA0 | Fortress Intermediate 3 Inc | PSDO | 7.5 | 06/01/2031 | 4,940,000.00 | 5,179,976.00 | 0.10 |
| 42704LAE4 | HERC Holdings Inc | HRI | 6.63 | 06/15/2029 | 4,935,000.00 | 5,071,137.00 | 0.10 |
| 380355AN7 | Goeasy Ltd | GSYCN | 7.38 | 10/01/2030 | 5,155,000.00 | 5,183,713.00 | 0.10 |
| 380355AR8 | Goeasy Ltd | GSYCN | 6.88 | 02/15/2031 | 5,380,000.00 | 5,218,600.00 | 0.10 |
| 36170JAB2 | GGAM Finance Ltd | GGAMFI | 7.75 | 05/15/2026 | 5,075,000.00 | 5,086,723.00 | 0.10 |
| 02406PAU4 | American Axle & Manufacturing Inc | AXL | 6.5 | 04/01/2027 | 5,040,000.00 | 5,042,008.00 | 0.10 |
| 205768AT1 | Comstock Resources Inc | CRK | 5.88 | 01/15/2030 | 5,300,000.00 | 5,107,683.00 | 0.10 |
| 185899AQ4 | Cleveland-cliffs Inc | CLF | 6.88 | 11/01/2029 | 4,985,000.00 | 5,083,640.00 | 0.10 |
| 11283YAD2 | Brookfield Residential Properties Inc / | BRPCN | 4.88 | 02/15/2030 | 5,300,000.00 | 4,967,531.00 | 0.10 |
| 12511VAA6 | Churchill Downs Inc | CHDN | 5.75 | 04/01/2030 | 4,500,000.00 | 4,500,000.00 | 0.09 |
| 18060TAE5 | Clarios Global Lp / Clarios Us Finance C | POWSOL | 6.75 | 09/15/2032 | 4,585,000.00 | 4,686,603.00 | 0.09 |
| 165167735 | Expand Energy Corp | EXE | — | — | 45,874.00 | 4,873,653.00 | 0.09 |
| 15089QAW4 | Celanese Us Holdings Llc | CE | 6.85 | 11/15/2028 | 4,550,000.00 | 4,720,857.00 | 0.09 |
| 030981AL8 | Amerigas Partners Lp / Amerigas Finance | APU | 5.75 | 05/20/2027 | 4,429,000.00 | 4,427,902.00 | 0.09 |
| 00489LAF0 | Acrisure Llc / Acrisure Finance Inc | ACRISU | 4.25 | 02/15/2029 | 5,000,000.00 | 4,824,003.00 | 0.09 |
| 04942PAJ6 | Atlas Static Senior Loan Fund I Ltd | ATSTC | 6.07 | 07/15/2030 | 4,661,709.00 | 4,661,577.00 | 0.09 |
| 05480AAA3 | Azorra Finance Ltd | AZORRA | 7.75 | 04/15/2030 | 4,365,000.00 | 4,577,793.00 | 0.09 |
| 36168QAN4 | GFL Environmental Inc | GFLCN | 4.75 | 06/15/2029 | 4,500,000.00 | 4,434,705.00 | 0.09 |
| 432833AP6 | Hilton Domestic Operating Co Inc | HLT | 5.88 | 04/01/2029 | 4,320,000.00 | 4,408,040.00 | 0.09 |
| 603051AC7 | Mineral Resources Ltd | MINAU | 8.0 | 11/01/2027 | 4,783,000.00 | 4,868,221.00 | 0.09 |
| BL4045797 | Tenneco Inc | TENINC | 9.3 | 11/17/2028 | 4,600,000.00 | 4,497,778.00 | 0.09 |
| BL4571925 | Foundation Building M | FBM | 8.31 | 01/29/2031 | 4,588,354.00 | 4,592,451.00 | 0.09 |
| 91282CKS9 | United States Treasury Note/bond | T | 4.88 | 05/31/2026 | 4,489,000.00 | 4,518,809.00 | 0.09 |
| 983133AA7 | WYNN Resorts Finance Llc / Wynn Resorts | WYNFIN | 5.13 | 10/01/2029 | 4,575,000.00 | 4,581,165.00 | 0.09 |
| 92537RAA7 | TK Elevator Us Newco Inc | THYELE | 5.25 | 07/15/2027 | 4,425,000.00 | 4,408,848.00 | 0.09 |
| 95081QAP9 | Wesco Distribution Inc | WCC | 7.25 | 06/15/2028 | 4,602,000.00 | 4,665,060.00 | 0.09 |
| 86765KAB5 | Sunoco Lp | SUN | 7.0 | 05/01/2029 | 4,295,000.00 | 4,447,674.00 | 0.09 |
| 893647BR7 | Transdigm Inc | TDG | 6.75 | 08/15/2028 | 4,750,000.00 | 4,846,135.00 | 0.09 |
| 82088KAJ7 | SHEA Homes Lp / Shea Homes Funding Corp | SHEAHM | 4.75 | 04/01/2029 | 4,500,000.00 | 4,412,379.00 | 0.09 |
| 70932MAE7 | Pennymac Financial Services Inc | PFSI | 7.13 | 11/15/2030 | 4,675,000.00 | 4,867,085.00 | 0.09 |
| 668771AK4 | GEN Digital Inc | GEN | 6.75 | 09/30/2027 | 4,525,000.00 | 4,595,572.00 | 0.09 |
| BNZHNG3 | Bellis Acquisition Co Plc | ASSDLN | 8.13 | 05/14/2030 | 3,607,000.00 | 4,626,693.00 | 0.09 |
| BQ0G6D4 | Bellis Acquisition Co Plc | ASSDLN | 8.0 | 07/01/2031 | 3,609,000.00 | 4,290,110.00 | 0.08 |
| 682691AB6 | Onemain Finance Corp | OMF | 3.5 | 01/15/2027 | 4,195,000.00 | 4,099,479.00 | 0.08 |
| 68245XAR0 | 1011778 Bc Ulc / New Red Finance Inc | BCULC | 6.13 | 06/15/2029 | 4,210,000.00 | 4,311,755.00 | 0.08 |
| 682691AL4 | Onemain Finance Corp | OMF | 6.13 | 05/15/2030 | 3,835,000.00 | 3,892,704.00 | 0.08 |
| 682691AH3 | Onemain Finance Corp | OMF | 6.63 | 05/15/2029 | 3,950,000.00 | 4,065,055.00 | 0.08 |
| 645370AF4 | NEW Home Co Inc/the | NWHM | 9.25 | 10/01/2029 | 3,975,000.00 | 4,178,338.00 | 0.08 |
| 63861CAG4 | Nationstar Mortgage Holdings Inc | COOP | 6.5 | 08/01/2029 | 4,145,000.00 | 4,252,160.00 | 0.08 |
| 716964AA9 | PHH Escrow Issuer Llc/phh Corp | PHHESC | 9.88 | 11/01/2029 | 3,925,000.00 | 3,977,316.00 | 0.08 |
| 70052LAD5 | PARK Intermediate Holdings Llc / Pk Dome | PK | 7.0 | 02/01/2030 | 4,040,000.00 | 4,163,233.00 | 0.08 |
| 749571AK1 | RHP Hotel Properties Lp / Rhp Finance Co | RHP | 6.5 | 04/01/2032 | 3,745,000.00 | 3,851,995.00 | 0.08 |
| 845467AS8 | Expand Energy Corp | EXE | 5.38 | 03/15/2030 | 4,030,000.00 | 4,097,808.00 | 0.08 |
| 864486AK1 | Suburban Propane Partners Lp/suburban En | SPH | 5.88 | 03/01/2027 | 4,008,000.00 | 4,003,432.00 | 0.08 |
| 96350RAA2 | White Cap Buyer Llc | WHTCAP | 6.88 | 10/15/2028 | 3,850,000.00 | 3,849,966.00 | 0.08 |
| 92682RAA0 | Viking Ocean Cruises Ship Vii Ltd | VIKCRU | 5.63 | 02/15/2029 | 4,000,000.00 | 3,992,880.00 | 0.08 |
| 893830BZ1 | Transocean International Ltd | RIG | 8.5 | 05/15/2031 | 4,150,000.00 | 4,067,000.00 | 0.08 |
| 91327BAB6 | Uniti Group Lp / Uniti Group Finance 201 | UNIT | 4.75 | 04/15/2028 | 4,410,000.00 | 4,313,736.00 | 0.08 |
| BL4063485 | Altice Financing Sa | ALTICE | 9.32 | 10/31/2027 | 5,071,970.00 | 4,323,854.00 | 0.08 |
| BL4938413 | Venator Finance Sarl | VNTR | 6.3 | 07/16/2026 | 5,474,644.00 | 4,105,983.00 | 0.08 |
| BL4993863 | MPH Acquisition Holdings | MLTPLN | 8.06 | 12/31/2030 | 4,742,905.00 | 4,351,615.00 | 0.08 |
| BL5007242 | Windsor Holdings Iii Llc | UNVR | 6.55 | 08/01/2030 | 4,038,807.00 | 4,027,025.00 | 0.08 |
| B8AC8DDQ7 | Venator Fin Sarl | — | 14.32 | 12/31/2025 | 5,444,800.00 | 4,083,600.00 | 0.08 |
| 553283AF9 | MPH Acquisition Holdings Llc | MLTPLN | 11.5 | 12/31/2030 | 4,139,160.00 | 4,314,898.00 | 0.08 |
| 552953CK5 | MGM Resorts International | MGM | 6.13 | 09/15/2029 | 4,000,000.00 | 4,069,320.00 | 0.08 |
| 47232MAG7 | Jefferies Finance Llc / Jfin Co-issuer C | JEFFIN | 6.63 | 10/15/2031 | 4,200,000.00 | 4,229,837.00 | 0.08 |
| 513272AC8 | LAMB Weston Holdings Inc | LW | 4.88 | 05/15/2028 | 4,100,000.00 | 4,086,885.00 | 0.08 |
| 513272AD6 | LAMB Weston Holdings Inc | LW | 4.13 | 01/31/2030 | 4,425,000.00 | 4,249,969.00 | 0.08 |
| 384701AA6 | Graham Packaging Co Inc | GRMPAC | 7.13 | 08/15/2028 | 4,155,000.00 | 4,160,089.00 | 0.08 |
| 045086AP0 | Ashton Woods Usa Llc / Ashton Woods Fina | ASHWOO | 4.63 | 04/01/2030 | 4,400,000.00 | 4,173,080.00 | 0.08 |
| 00737WAA7 | Adtalem Global Education Inc | ATGE | 5.5 | 03/01/2028 | 4,078,000.00 | 4,069,536.00 | 0.08 |
| 031921AB5 | Amwins Group Inc | AMWINS | 4.88 | 06/30/2029 | 4,150,000.00 | 4,031,359.00 | 0.08 |
| 02128LAC0 | ALTA Equipment Group Inc | ALTG | 9.0 | 06/01/2029 | 4,665,000.00 | 4,359,279.00 | 0.08 |
| 126307AS6 | CSC Holdings Llc | CSCHLD | 5.38 | 02/01/2028 | 4,950,000.00 | 4,355,999.00 | 0.08 |
| 146869AM4 | Carvana Co | CVNA | 9.0 | 06/01/2031 | 2,985,300.00 | 3,381,200.00 | 0.07 |
| 12543DBH2 | Chs/community Health Systems Inc | CYH | 6.0 | 01/15/2029 | 3,631,000.00 | 3,520,844.00 | 0.07 |
| 12543DBM1 | Chs/community Health Systems Inc | CYH | 5.25 | 05/15/2030 | 3,700,000.00 | 3,348,611.00 | 0.07 |
| 15853BAA9 | Champion Iron Canada Inc | CIACN | 7.88 | 07/15/2032 | 3,595,000.00 | 3,757,709.00 | 0.07 |
| 18972EAD7 | Clydesdale Acquisition Holdings Inc | NOVHOL | 6.75 | 04/15/2032 | 3,350,000.00 | 3,440,853.00 | 0.07 |
| 03690AAF3 | Antero Midstream Partners Lp / Antero Mi | AM | 5.75 | 01/15/2028 | 3,624,000.00 | 3,624,152.00 | 0.07 |
| 00489LAM5 | Acrisure Llc / Acrisure Finance Inc | ACRISU | 8.5 | 06/15/2029 | 3,220,000.00 | 3,384,217.00 | 0.07 |
| 05464CAC5 | AXON Enterprise Inc | AXON | 6.13 | 03/15/2030 | 3,520,000.00 | 3,618,698.00 | 0.07 |
| 38869AAB3 | Graphic Packaging International Llc | GPK | 3.5 | 03/15/2028 | 3,550,000.00 | 3,430,476.00 | 0.07 |
| 31556TAA7 | Fertitta Entertainment Llc / Fertitta En | FRTITA | 4.63 | 01/15/2029 | 3,785,000.00 | 3,599,704.00 | 0.07 |
| 29362UAC8 | Entegris Inc | ENTG | 4.38 | 04/15/2028 | 3,725,000.00 | 3,644,161.00 | 0.07 |
| 28228PAC5 | EG Global Finance Plc | EGBLFN | 12.0 | 11/30/2028 | 3,300,000.00 | 3,619,539.00 | 0.07 |
| 536797AJ2 | Lithia Motors Inc | LAD | 5.5 | 10/01/2030 | 3,525,000.00 | 3,520,701.00 | 0.07 |
| 53523LAB6 | Lindblad Expeditions Llc | LIND | 7.0 | 09/15/2030 | 3,420,000.00 | 3,486,191.00 | 0.07 |
| 44267DAE7 | Howard Hughes Corp/the | HHH | 4.13 | 02/01/2029 | 3,624,000.00 | 3,476,658.00 | 0.07 |
| 601137AB8 | Millrose Properties Inc | MRP | 6.25 | 09/15/2032 | 3,740,000.00 | 3,750,005.00 | 0.07 |
| 98877DAH8 | ZF North America Capital Inc | ZFFNGR | 7.5 | 03/24/2031 | 3,560,000.00 | 3,536,041.00 | 0.07 |
| BL4047090 | Tenneco Inc | TEN | 9.05 | 11/17/2028 | 3,711,271.00 | 3,616,499.00 | 0.07 |
| BL4578458 | Consolidated Energy Fin Sa | CONSEN | 8.82 | 11/15/2030 | 3,775,067.00 | 3,491,936.00 | 0.07 |
| BL4587764 | Magnera Corp | MAGN | 8.45 | 11/04/2031 | 3,864,919.00 | 3,831,100.00 | 0.07 |
| BL4622694 | Lumen Technologies Inc | LUMN | 6.78 | 04/15/2030 | 3,614,001.00 | 3,586,143.00 | 0.07 |
| 97381AAA0 | Windstream Services Llc / Windstream Esc | WIN | 8.25 | 10/01/2031 | 3,530,000.00 | 3,659,464.00 | 0.07 |
| 978097AG8 | Wolverine World Wide Inc | WWW | 4.0 | 08/15/2029 | 3,965,000.00 | 3,625,549.00 | 0.07 |
| 87470LAJ0 | Tallgrass Energy Partners Lp / Tallgrass | TEP | 6.0 | 12/31/2030 | 3,695,000.00 | 3,649,374.00 | 0.07 |
| 87470LAD3 | Tallgrass Energy Partners Lp / Tallgrass | TEP | 5.5 | 01/15/2028 | 3,765,000.00 | 3,747,452.00 | 0.07 |
| 780153BW1 | Royal Caribbean Cruises Ltd | RCL | 5.63 | 09/30/2031 | 3,665,000.00 | 3,736,736.00 | 0.07 |
| 76884GAA3 | Rivers Enterprise Lender Llc / Rivers En | RIVLEN | 6.25 | 10/15/2030 | 3,615,000.00 | 3,648,392.00 | 0.07 |
| 651229BG0 | Newell Brands Inc | NWL | 8.5 | 06/01/2028 | 3,180,000.00 | 3,372,208.00 | 0.07 |
| 682691AA8 | Onemain Finance Corp | OMF | 4.0 | 09/15/2030 | 4,075,000.00 | 3,788,096.00 | 0.07 |
| 681639AB6 | Olympus Water Us Holding Corp | SOLEIN | 6.25 | 10/01/2029 | 3,650,000.00 | 3,542,150.00 | 0.07 |
| BL4993855 | MPH Acquisition Holdings | MLTPLN | 7.32 | 12/31/2030 | 3,463,844.00 | 3,455,184.00 | 0.07 |
| BL5147105 | CP Atlas Buyer Inc | AMBATH | 6.83 | 07/08/2030 | 3,300,000.00 | 3,188,625.00 | 0.06 |
| BL5184058 | Allied Universal Holdco Llc | UNSEAM | 8.07 | 08/20/2032 | 2,825,000.00 | 2,833,732.00 | 0.06 |
| XS27199989 | EG Global Finance Plc | EGBLFN | 11.0 | 11/30/2028 | 2,400,000.00 | 3,082,022.00 | 0.06 |
| 670001AL0 | Novelis Corp | HNDLIN | 6.88 | 01/30/2030 | 3,055,000.00 | 3,164,664.00 | 0.06 |
| 645370AG2 | NEW Home Co Inc/the | NWHM | 8.5 | 11/01/2030 | 3,055,000.00 | 3,176,490.00 | 0.06 |
| 64828TAB8 | Rithm Capital Corp | RITM | 8.0 | 04/01/2029 | 3,128,000.00 | 3,201,373.00 | 0.06 |
| 64438WAA5 | NEW Flyer Holdings Inc | NFICN | 9.25 | 07/01/2030 | 2,825,000.00 | 3,023,795.00 | 0.06 |
| 85236FAA1 | Smyrna Ready Mix Concrete Llc | SMYREA | 6.0 | 11/01/2028 | 3,135,000.00 | 3,135,590.00 | 0.06 |
| 893790AA3 | Transocean Aquila Ltd | RIG | 8.0 | 09/30/2028 | 3,217,692.00 | 3,306,050.00 | 0.06 |
| 893647BP1 | Transdigm Inc | TDG | 4.63 | 01/15/2029 | 3,118,000.00 | 3,054,352.00 | 0.06 |
| 963320BE5 | Whirlpool Corp | WHR | 6.5 | 06/15/2033 | 3,050,000.00 | 3,044,391.00 | 0.06 |
| 95081QAQ7 | Wesco Distribution Inc | WCC | 6.38 | 03/15/2029 | 2,790,000.00 | 2,872,826.00 | 0.06 |
| 903522AB6 | UWM Holdings Llc | UWMC | 6.25 | 03/15/2031 | 3,070,000.00 | 3,055,922.00 | 0.06 |
| 91282CLS8 | United States Treasury Note/bond | T | 4.13 | 10/31/2026 | 3,165,000.00 | 3,178,846.00 | 0.06 |
| 91282CME8 | United States Treasury Note/bond | T | 4.25 | 12/31/2026 | 3,200,000.00 | 3,220,750.00 | 0.06 |
| BL4295970 | Viasat Inc | VSAT | 8.75 | 05/30/2030 | 2,885,316.00 | 2,834,823.00 | 0.06 |
| 603051AF0 | Mineral Resources Ltd | MINAU | 7.0 | 04/01/2031 | 3,030,000.00 | 3,069,450.00 | 0.06 |
| 278768AC0 | Echostar Corp | SATS | 10.75 | 11/30/2029 | 2,800,000.00 | 3,080,739.00 | 0.06 |
| 29272WAC3 | Energizer Holdings Inc | ENR | 4.75 | 06/15/2028 | 3,047,000.00 | 2,990,335.00 | 0.06 |
| 428040DC0 | Hertz Corp/the | HTZ | 12.63 | 07/15/2029 | 3,100,000.00 | 3,285,564.00 | 0.06 |
| 431318AY0 | Hilcorp Energy I Lp / Hilcorp Finance Co | HILCRP | 6.0 | 04/15/2030 | 3,175,000.00 | 3,128,949.00 | 0.06 |
| 35640YAK3 | Freedom Mortgage Corp | FREMOR | 12.0 | 10/01/2028 | 2,950,000.00 | 3,127,000.00 | 0.06 |
| 05480AAB1 | Azorra Finance Ltd | AZORRA | 7.25 | 01/15/2031 | 3,075,000.00 | 3,201,843.00 | 0.06 |
| 071734AD9 | Bausch Health Cos Inc | BHCCN | 7.0 | 01/15/2028 | 3,468,000.00 | 3,086,520.00 | 0.06 |
| 045086AK1 | Ashton Woods Usa Llc / Ashton Woods Fina | ASHWOO | 6.63 | 01/15/2028 | 3,260,000.00 | 3,274,346.00 | 0.06 |
| 097751BZ3 | Bombardier Inc | BBDBCN | 7.5 | 02/01/2029 | 2,995,000.00 | 3,118,394.00 | 0.06 |
| 095796AJ7 | BLUE Racer Midstream Llc / Blue Racer Fi | BLURAC | 7.0 | 07/15/2029 | 2,990,000.00 | 3,100,358.00 | 0.06 |
| 00653VAC5 | Adapthealth Llc | ADAHEA | 4.63 | 08/01/2029 | 3,257,000.00 | 3,093,607.00 | 0.06 |
| 00175PAC7 | AMN Healthcare Inc | AMN | 4.0 | 04/15/2029 | 3,220,000.00 | 3,039,404.00 | 0.06 |
| 00175PAD5 | AMN Healthcare Inc | AMN | 6.5 | 01/15/2031 | 3,060,000.00 | 3,057,989.00 | 0.06 |
| 03881NAJ6 | Arbor Realty Sr Inc | ABR | 7.88 | 07/15/2030 | 3,090,000.00 | 3,249,263.00 | 0.06 |
| 030981AP9 | Amerigas Partners Lp / Amerigas Finance | APU | 9.5 | 06/01/2030 | 3,050,000.00 | 3,194,105.00 | 0.06 |
| 00489LAL7 | Acrisure Llc / Acrisure Finance Inc | ACRISU | 7.5 | 11/06/2030 | 2,585,000.00 | 2,694,113.00 | 0.05 |
| 18453HAF3 | Clear Channel Outdoor Holdings Inc | CCO | 7.88 | 04/01/2030 | 2,300,000.00 | 2,415,352.00 | 0.05 |
| 21925AAQ8 | Cornerstone Chemical Co Llc | CRNRCH | 10.0 | 05/07/2029 | 3,268,406.00 | 2,778,145.00 | 0.05 |
| 105340AT0 | Brandywine Operating Partnership Lp | BDN | 6.13 | 01/15/2031 | 2,505,000.00 | 2,500,350.00 | 0.05 |
| 428040DA4 | Hertz Corp/the | HTZ | 4.63 | 12/01/2026 | 2,485,000.00 | 2,445,575.00 | 0.05 |
| 389375AN6 | GRAY Media Inc | GTN | 9.63 | 07/15/2032 | 2,600,000.00 | 2,654,885.00 | 0.05 |
| 422704AH9 | Hecla Mining Co | HL | 7.25 | 02/15/2028 | 2,754,000.00 | 2,776,303.00 | 0.05 |
| 26154DAB6 | Dream Finders Homes Inc | DFH | 6.88 | 09/15/2030 | 2,555,000.00 | 2,570,514.00 | 0.05 |
| 292554AS1 | Encore Capital Group Inc | ECPG | 6.63 | 04/15/2031 | 2,525,000.00 | 2,516,829.00 | 0.05 |
| 63861CAD1 | Nationstar Mortgage Holdings Inc | COOP | 5.13 | 12/15/2030 | 2,500,000.00 | 2,524,050.00 | 0.05 |
| 53219LAY5 | Lifepoint Health Inc | RGCARE | 8.38 | 02/15/2032 | 2,170,000.00 | 2,312,438.00 | 0.05 |
| BL4990380 | Hilcorp Energy I Lp | HILCRP | 6.37 | 02/11/2030 | 2,512,375.00 | 2,514,467.00 | 0.05 |
| 903522AA8 | UWM Holdings Llc | UWMC | 6.63 | 02/01/2030 | 2,430,000.00 | 2,472,065.00 | 0.05 |
| 86765LAT4 | Sunoco Lp / Sunoco Finance Corp | SUN | 4.5 | 05/15/2029 | 2,750,000.00 | 2,683,161.00 | 0.05 |
| 86765KAF6 | Sunoco Lp | SUN | 5.63 | 03/15/2031 | 2,590,000.00 | 2,571,618.00 | 0.05 |
| 85571BBD6 | Starwood Property Trust Inc | STWD | 6.5 | 07/01/2030 | 2,350,000.00 | 2,432,149.00 | 0.05 |
| 85571BBE4 | Starwood Property Trust Inc | STWD | 6.5 | 10/15/2030 | 2,555,000.00 | 2,647,938.00 | 0.05 |
| 77340RAR8 | Rockies Express Pipeline Llc | ROCKIE | 4.95 | 07/15/2029 | 2,525,000.00 | 2,503,612.00 | 0.05 |
| 78410GAG9 | SBA Communications Corp | SBAC | 3.13 | 02/01/2029 | 2,612,000.00 | 2,445,514.00 | 0.05 |
| 78454LAX8 | SM Energy Co | SM | 6.75 | 08/01/2029 | 2,350,000.00 | 2,363,512.00 | 0.05 |
| 63938CAJ7 | Navient Corp | NAVI | 6.75 | 06/15/2026 | 2,400,000.00 | 2,426,252.00 | 0.05 |
| 74743LAA8 | Qnity Electronics Inc | QNTELE | 5.75 | 08/15/2032 | 2,660,000.00 | 2,683,104.00 | 0.05 |
| BL5042678 | Vista Management Holding | VSTJET | 8.57 | 03/18/2031 | 2,648,250.00 | 2,657,076.00 | 0.05 |
| 64828TAC6 | Rithm Capital Corp | RITM | 8.0 | 07/15/2030 | 2,060,000.00 | 2,110,649.00 | 0.04 |
| 68288AAA5 | 1261229 Bc Ltd | BHCCN | 10.0 | 04/15/2032 | 1,965,000.00 | 2,011,668.00 | 0.04 |
| 810186AW6 | Scotts Miracle-gro Co/the | SMG | 4.38 | 02/01/2032 | 2,400,000.00 | 2,215,215.00 | 0.04 |
| 87265HAG4 | TRI Pointe Homes Inc | TPH | 5.7 | 06/15/2028 | 2,143,000.00 | 2,183,428.00 | 0.04 |
| 911365BM5 | United Rentals North America Inc | URI | 3.88 | 11/15/2027 | 1,858,000.00 | 1,829,822.00 | 0.04 |
| 91282CLP4 | United States Treasury Note/bond | T | 3.5 | 09/30/2026 | 1,887,000.00 | 1,883,093.00 | 0.04 |
| 91327BAA8 | Uniti Group Lp / Uniti Group Finance 201 | UNIT | 6.5 | 02/15/2029 | 1,950,000.00 | 1,831,263.00 | 0.04 |
| 91889FAC5 | Valaris Ltd | VAL | 8.38 | 04/30/2030 | 2,200,000.00 | 2,278,254.00 | 0.04 |
| 92535UAB0 | Vertiv Group Corp | VRT | 4.13 | 11/15/2028 | 2,005,000.00 | 1,959,588.00 | 0.04 |
| 96949VAN3 | Williams Scotsman Inc | WLSC | 6.63 | 04/15/2030 | 2,000,000.00 | 2,057,986.00 | 0.04 |
| BL4989184 | Quikrete Holdings Inc | QUIKHO | 8.07 | 02/10/2032 | 2,064,625.00 | 2,063,720.00 | 0.04 |
| BL4964328 | NCR Atleos Corp | NCRATL | 7.03 | 09/27/2028 | 2,102,866.00 | 2,081,837.00 | 0.04 |
| BL4799260 | Xplore Inc/nb | BARXPL | 9.43 | 10/24/2029 | 2,354,300.00 | 2,213,041.00 | 0.04 |
| BL3547827 | Asurion Llc | ASUCOR | 7.68 | 07/31/2027 | 1,981,625.00 | 1,979,974.00 | 0.04 |
| B8ADQ6J27 | Doncasters Us Fin Llc | — | — | 04/01/2030 | 1,800,000.00 | 1,818,000.00 | 0.04 |
| 527298CD3 | Level 3 Financing Inc | LVLT | 4.5 | 04/01/2030 | 2,000,000.00 | 1,830,955.00 | 0.04 |
| 50168QAF2 | LABL Inc | LABL | 8.63 | 10/01/2031 | 2,645,000.00 | 1,943,659.00 | 0.04 |
| 52109SAB5 | LBM Acquisition Llc | USLBMH | 9.5 | 06/15/2031 | 1,935,000.00 | 2,040,374.00 | 0.04 |
| 55342UAQ7 | MPT Operating Partnership Lp / Mpt Finan | MPW | 8.5 | 02/15/2032 | 1,925,000.00 | 2,049,307.00 | 0.04 |
| 25525PAE7 | Diversified Healthcare Trust | DHC | 7.25 | 10/15/2030 | 2,035,000.00 | 2,068,564.00 | 0.04 |
| 29365BAA1 | Entegris Inc | ENTG | 4.75 | 04/15/2029 | 2,000,000.00 | 1,983,198.00 | 0.04 |
| 345397E58 | FORD Motor Credit Co Llc | F | 5.8 | 03/08/2029 | 2,150,000.00 | 2,182,093.00 | 0.04 |
| 33834YAC2 | FIVE Point Operating Co Lp | FPH | 8.0 | 10/01/2030 | 1,985,000.00 | 2,014,592.00 | 0.04 |
| 427056AU0 | Hercules Llc | ASH | 6.5 | 06/30/2029 | 2,005,000.00 | 2,012,687.00 | 0.04 |
| 380355AM9 | Goeasy Ltd | GSYCN | 6.88 | 05/15/2030 | 2,040,000.00 | 2,029,800.00 | 0.04 |
| 12597YAC3 | CP Atlas Buyer Inc | AMBATH | 9.75 | 07/15/2030 | 2,135,000.00 | 2,245,283.00 | 0.04 |
| 103304BV2 | BOYD Gaming Corp | BYD | 4.75 | 06/15/2031 | 2,375,000.00 | 2,290,736.00 | 0.04 |
| 15089QAM6 | Celanese Us Holdings Llc | CE | 6.67 | 07/15/2027 | 2,040,000.00 | 2,092,173.00 | 0.04 |
| 17888HAB9 | Civitas Resources Inc | CIVI | 8.75 | 07/01/2031 | 1,975,000.00 | 2,024,069.00 | 0.04 |
| 023771T32 | American Airlines Inc | AAL | 7.25 | 02/15/2028 | 2,100,000.00 | 2,149,972.00 | 0.04 |
| 02154CAF0 | Altice Financing Sa | ALTICE | 5.0 | 01/15/2028 | 2,425,000.00 | 1,879,375.00 | 0.04 |
| 02154CAJ2 | Altice Financing Sa | ALTICE | 9.63 | 07/15/2027 | 2,150,000.00 | 1,935,000.00 | 0.04 |
| 01741RAN2 | ATI Inc | ATI | 7.25 | 08/15/2030 | 1,761,000.00 | 1,849,773.00 | 0.04 |
| 07317QAJ4 | Baytex Energy Corp | BTECN | 8.5 | 04/30/2030 | 2,205,000.00 | 2,263,939.00 | 0.04 |
| 071734AH0 | Bausch Health Cos Inc | BHCCN | 5.0 | 01/30/2028 | 2,150,000.00 | 1,843,625.00 | 0.04 |
| 097751BT7 | Bombardier Inc | BBDBCN | 7.88 | 04/15/2027 | 1,303,000.00 | 1,305,801.00 | 0.03 |
| 07556QBU8 | Beazer Homes Usa Inc | BZH | 7.5 | 03/15/2031 | 1,700,000.00 | 1,725,847.00 | 0.03 |
| 185899AP6 | Cleveland-cliffs Inc | CLF | 7.0 | 03/15/2032 | 1,495,000.00 | 1,511,451.00 | 0.03 |
| 18064PAD1 | Clarivate Science Holdings Corp | CLVTSC | 4.88 | 07/01/2029 | 1,700,000.00 | 1,606,499.00 | 0.03 |
| 185899AS0 | Cleveland-cliffs Inc | CLF | 7.5 | 09/15/2031 | 1,465,000.00 | 1,509,677.00 | 0.03 |
| 105340AQ6 | Brandywine Operating Partnership Lp | BDN | 3.95 | 11/15/2027 | 1,625,000.00 | 1,595,453.00 | 0.03 |
| 103304BU4 | BOYD Gaming Corp | BYD | 4.75 | 12/01/2027 | 1,725,000.00 | 1,718,296.00 | 0.03 |
| 12008RAN7 | Builders Firstsource Inc | BLDR | 5.0 | 03/01/2030 | 1,490,000.00 | 1,475,632.00 | 0.03 |
| 1248EPBX0 | CCO Holdings Llc / Cco Holdings Capital | CHTR | 5.0 | 02/01/2028 | 1,725,000.00 | 1,708,994.00 | 0.03 |
| 35908MAA8 | Frontier Communications Holdings Llc | FYBR | 5.88 | 11/01/2029 | 1,775,000.00 | 1,794,799.00 | 0.03 |
| 284902AF0 | Eldorado Gold Corp | ELDCN | 6.25 | 09/01/2029 | 1,550,000.00 | 1,555,835.00 | 0.03 |
| 629377CR1 | NRG Energy Inc | NRG | 3.63 | 02/15/2031 | 1,825,000.00 | 1,687,039.00 | 0.03 |
| 603051AD5 | Mineral Resources Ltd | MINAU | 8.5 | 05/01/2030 | 1,700,000.00 | 1,766,011.00 | 0.03 |
| 62886EBA5 | NCR Voyix Corp | VYX | 5.13 | 04/15/2029 | 1,577,000.00 | 1,555,158.00 | 0.03 |
| 536797AE3 | Lithia Motors Inc | LAD | 4.63 | 12/15/2027 | 1,700,000.00 | 1,683,339.00 | 0.03 |
| 50168QAE5 | LABL Inc | LABL | 9.5 | 11/01/2028 | 2,075,000.00 | 1,761,853.00 | 0.03 |
| B8ACXD562 | NEW Generation Gas Gathering Llc | — | 4.13 | 09/30/2029 | 1,459,459.00 | 1,437,567.00 | 0.03 |
| B8ADVAEX9 | NEW Generation Gas Gathering Llc | — | 4.35 | 09/30/2029 | 1,459,459.00 | 1,437,567.00 | 0.03 |
| B8ADGKST8 | NEW Generation Gas Gathering Llc | — | 4.35 | 09/30/2029 | 1,751,351.00 | 1,725,080.00 | 0.03 |
| B8AD64SP3 | Xplore Inc | — | — | — | 768,379.00 | 1,776,899.00 | 0.03 |
| BL4874717 | Calpine Corp | CPN | 6.39 | 01/31/2031 | 1,370,000.00 | 1,368,390.00 | 0.03 |
| BL4990463 | GFL Es Us Llc | GFLES | 8.3 | 03/03/2032 | 1,325,000.00 | 1,323,896.00 | 0.03 |
| 96949VAM5 | Williams Scotsman Inc | WLSC | 6.63 | 06/15/2029 | 1,300,000.00 | 1,329,869.00 | 0.03 |
| 983793AK6 | XPO Inc | XPO | 7.13 | 02/01/2032 | 1,380,000.00 | 1,449,101.00 | 0.03 |
| 92262TAA4 | Velocity Vehicle Group Llc | VLCYVG | 8.0 | 06/01/2029 | 1,615,000.00 | 1,619,431.00 | 0.03 |
| 91838PAA9 | VT Topco Inc | VERCOR | 8.5 | 08/15/2030 | 1,646,000.00 | 1,681,202.00 | 0.03 |
| 876511AG1 | Taseko Mines Ltd | TKOCN | 8.25 | 05/01/2030 | 1,545,000.00 | 1,635,768.00 | 0.03 |
| 86765LAN7 | Sunoco Lp / Sunoco Finance Corp | SUN | 5.88 | 03/15/2028 | 1,490,000.00 | 1,491,938.00 | 0.03 |
| 87724RAG7 | Taylor Morrison Communities Inc | TMHC | 6.63 | 07/15/2027 | 1,450,000.00 | 1,447,047.00 | 0.03 |
| 88033GDU1 | Tenet Healthcare Corp | THC | 6.75 | 05/15/2031 | 1,675,000.00 | 1,734,968.00 | 0.03 |
| 812127AA6 | Sealed Air Corp/sealed Air Corp Us | SEE | 6.13 | 02/01/2028 | 1,275,000.00 | 1,292,824.00 | 0.03 |
| 85571BBF1 | Starwood Property Trust Inc | STWD | 5.25 | 10/15/2028 | 1,475,000.00 | 1,475,193.00 | 0.03 |
| BP816Z6 | MPT Operating Partnership Lp / Mpt Finan | MPW | 0.99 | 10/15/2026 | 1,400,000.00 | 1,565,414.00 | 0.03 |
| L8176HAF7 | Intelsat Emergence Sa | — | — | — | 65,330.00 | 907,270.00 | 0.02 |
| 85571BBC8 | Starwood Property Trust Inc | STWD | 6.0 | 04/15/2030 | 775,000.00 | 786,207.00 | 0.02 |
| 81721MAM1 | Diversified Healthcare Trust | DHC | 4.75 | 02/15/2028 | 1,225,000.00 | 1,167,549.00 | 0.02 |
| 897051AC2 | Tronox Inc | TROX | 4.63 | 03/15/2029 | 1,475,000.00 | 962,941.00 | 0.02 |
| 897051AD0 | Tronox Inc | TROX | 9.13 | 09/30/2030 | 1,010,000.00 | 989,526.00 | 0.02 |
| 86765LAZ0 | Sunoco Lp / Sunoco Finance Corp | SUN | 4.5 | 04/30/2030 | 1,300,000.00 | 1,253,543.00 | 0.02 |
| 644535AJ5 | NEW Gold Inc | NGDCN | 6.88 | 04/01/2032 | 845,000.00 | 885,137.00 | 0.02 |
| 75026JAH3 | Radiate Holdco Llc / Radiate Finance Inc | RADIAT | 9.25 | 03/25/2030 | 1,671,239.00 | 1,044,506.00 | 0.02 |
| 913229AA8 | United Wholesale Mortgage Llc | UWMLLC | 5.5 | 04/15/2029 | 1,260,000.00 | 1,244,784.00 | 0.02 |
| 913229AC4 | United Wholesale Mortgage Llc | UWMLLC | 5.75 | 06/15/2027 | 897,000.00 | 896,181.00 | 0.02 |
| 92332YAA9 | Venture Global Lng Inc | VENLNG | 8.13 | 06/01/2028 | 950,000.00 | 983,665.00 | 0.02 |
| 911365BG8 | United Rentals North America Inc | URI | 4.88 | 01/15/2028 | 1,075,000.00 | 1,072,275.00 | 0.02 |
| B8A66QXU2 | Genon Hldgs Class A | — | — | — | 41,315.00 | 1,239,450.00 | 0.02 |
| B8A9598C3 | Ferrellgas Escrow Llc 3/30/31 Preferred | — | 8.96 | 03/30/2031 | 1,125,000.00 | 1,125,000.00 | 0.02 |
| B8AC24CC5 | Heritage Power Llc | — | 9.8 | 07/20/2028 | 1,172,893.00 | 1,155,299.00 | 0.02 |
| 963320BD7 | Whirlpool Corp | WHR | 6.13 | 06/15/2030 | 1,055,000.00 | 1,064,158.00 | 0.02 |
| 96926JAC1 | William Carter Co/the | CRI | 5.63 | 03/15/2027 | 1,000,000.00 | 1,000,360.00 | 0.02 |
| 92840JAB5 | Vistajet Malta Finance Plc / Vista Manag | VSTJET | 6.38 | 02/01/2030 | 1,257,000.00 | 1,224,280.00 | 0.02 |
| BL4755601 | Lifepoint Health Inc | RGCARE | 8.07 | 05/16/2031 | 1,066,938.00 | 1,063,825.00 | 0.02 |
| B8ADX0WW1 | Doncasters Us Finance Llc | — | 10.8 | 04/23/2030 | 1,194,000.00 | 1,205,940.00 | 0.02 |
| B8AC5MQN3 | Diamond Sports Grp Llc- Cs | — | — | — | 87,655.00 | 898,463.00 | 0.02 |
| 48251UAP3 | K HOvnanian Enterprises Inc | HOV | 8.0 | 04/01/2031 | 1,010,000.00 | 1,035,505.00 | 0.02 |
| 516806AH9 | Vital Energy Inc | VTLE | 7.75 | 07/31/2029 | 1,175,000.00 | 1,169,538.00 | 0.02 |
| 25470XBD6 | DISH Dbs Corp | DISH | 5.13 | 06/01/2029 | 950,000.00 | 812,376.00 | 0.02 |
| 35641AAC2 | Freedom Mortgage Holdings Llc | FREMOR | 8.38 | 04/01/2032 | 1,110,000.00 | 1,163,114.00 | 0.02 |
| 11135RAA3 | Broadstreet Partners Group Llc | BROPAR | 5.88 | 04/15/2029 | 1,200,000.00 | 1,197,070.00 | 0.02 |
| 21873SAC2 | Coreweave Inc | CRWV | 9.0 | 02/01/2031 | 1,250,000.00 | 1,281,185.00 | 0.02 |
| 156431AS7 | Century Aluminum Co | CENX | 6.88 | 08/01/2032 | 755,000.00 | 782,975.00 | 0.02 |
| 09629EAL5 | Bluemountain Fuji Us Clo Ii Ltd | BLUEM | 5.59 | 10/20/2030 | 1,215,567.00 | 1,216,317.00 | 0.02 |
| 053773BG1 | AVIS Budget Car Rental Llc / Avis Budget | CAR | 4.75 | 04/01/2028 | 1,020,000.00 | 988,949.00 | 0.02 |
| 04288BAB6 | Arsenal Aic Parent Llc | ARNC | 8.0 | 10/01/2030 | 825,000.00 | 874,206.00 | 0.02 |
| 00253XAB7 | American Airlines Inc/aadvantage Loyalty | AAL | 5.75 | 04/20/2029 | 800,000.00 | 803,000.00 | 0.02 |
| 071734AQ0 | Bausch Health Cos Inc | BHCCN | 11.0 | 09/30/2028 | 250,000.00 | 260,992.00 | 0.01 |
| 071734AL1 | Bausch Health Cos Inc | BHCCN | 5.25 | 02/15/2031 | 630,000.00 | 412,650.00 | 0.01 |
| 18060TAD7 | Clarios Global Lp / Clarios Us Finance C | POWSOL | 6.75 | 02/15/2030 | 500,000.00 | 516,050.00 | 0.01 |
| 18972EAC9 | Clydesdale Acquisition Holdings Inc | NOVHOL | 6.88 | 01/15/2030 | 700,000.00 | 719,439.00 | 0.01 |
| 131347CR5 | Calpine Corp | CPN | 3.75 | 03/01/2031 | 550,000.00 | 523,891.00 | 0.01 |
| 126307AY3 | CSC Holdings Llc | CSCHLD | 7.5 | 04/01/2028 | 838,000.00 | 607,408.00 | 0.01 |
| 431318BC7 | Hilcorp Energy I Lp / Hilcorp Finance Co | HILCRP | 8.38 | 11/01/2033 | 525,000.00 | 551,102.00 | 0.01 |
| 25470XBB0 | DISH Dbs Corp | DISH | 7.38 | 07/01/2028 | 725,000.00 | 667,942.00 | 0.01 |
| 345397C92 | FORD Motor Credit Co Llc | F | 6.8 | 05/12/2028 | 525,000.00 | 545,130.00 | 0.01 |
| 516806AJ5 | Vital Energy Inc | VTLE | 9.75 | 10/15/2030 | 650,000.00 | 679,529.00 | 0.01 |
| 527298BT9 | Level 3 Financing Inc | LVLT | 3.75 | 07/15/2029 | 710,000.00 | 608,318.00 | 0.01 |
| BL3572783 | First Brands Group Llc | TRICGR | 13.07 | 03/30/2028 | 11,098,000.00 | 610,390.00 | 0.01 |
| B8AE3VDG0 | Clubcorp Hldgs Inc | — | — | 07/31/2032 | 330,749.00 | 328,037.00 | 0.01 |
| B8AE3VHV3 | Clubcorp Hldgs Inc | — | — | 07/31/2032 | 551,249.00 | 546,728.00 | 0.01 |
| B8AEBG4U3 | NEW Generation Gas Gathering Llc | — | 3.99 | 09/30/2029 | 437,837.00 | 431,269.00 | 0.01 |
| B8AD38TW1 | NEW Generation Gas - Unfunded | — | — | 09/30/2029 | 291,892.00 | 287,513.00 | 0.01 |
| B8ACA1AA8 | Digicel Intl Fin Ltd | — | — | — | 31,025.00 | 375,467.00 | 0.01 |
| B8AC4A3C9 | Cornerstone Chem Co | — | — | — | 144,561.00 | 722,805.00 | 0.01 |
| B8AC2XW47 | Heritage Pwr Llc | — | — | — | 6,933.00 | 446,311.00 | 0.01 |
| BL4843134 | Calpine Corp | CPN | 6.07 | 02/15/2032 | 376,750.00 | 376,307.00 | 0.01 |
| BL4985638 | Cablevision Lightpath | CVLGHT | 7.07 | 11/30/2027 | 335,581.00 | 335,860.00 | 0.01 |
| BL4938314 | Diamond Sports Net Llc | DSPORT | 10.32 | 01/02/2028 | 626,371.00 | 544,942.00 | 0.01 |
| 98379KAB8 | XPO Inc | XPO | 7.13 | 06/01/2031 | 625,000.00 | 651,934.00 | 0.01 |
| 911365BN3 | United Rentals North America Inc | URI | 4.0 | 07/15/2030 | 475,000.00 | 454,137.00 | 0.01 |
| 749571AJ4 | RHP Hotel Properties Lp / Rhp Finance Co | RHP | 7.25 | 07/15/2028 | 425,000.00 | 438,305.00 | 0.01 |
| 68622TAB7 | Organon & Co / Organon Foreign Debt Co-i | OGN | 5.13 | 04/30/2031 | 400,000.00 | 349,986.00 | 0.01 |
| 829259BH2 | Sinclair Television Group Inc | SBGI | 8.13 | 02/15/2033 | 450,000.00 | 463,190.00 | 0.01 |
| 85571BAU9 | Starwood Property Trust Inc | STWD | 3.63 | 07/15/2026 | 700,000.00 | 692,030.00 | 0.01 |
| FVZ5 COMDT | US 5yr Note (cbt) Dec25 | FVZ5 | — | 12/31/2025 | 329,551,455.00 | 405,814.00 | 0.01 |
| SWB8AEEB12 | Trswap: Iboxhy Index 12/22/2025 Bnpsw_r | — | — | 12/22/2025 | 229,903.00 | 351,360.00 | 0.01 |
| BL5072683 | Foundation Building M | FBM | 7.61 | 01/29/2031 | 728,175.00 | 729,085.00 | 0.01 |
| BL5240587 | PARK River Holdings Inc | PRIMBP | 5.25 | 09/25/2031 | 677,000.00 | 676,576.00 | 0.01 |
| BLFHRK1 | Venator Materials Plc | VNTRF | — | — | 26,944.00 | 2.00 | 0.00 |
| CASCF03NDI | Gbp/usd Fwd 20251002 Mslngb2x | GBP | — | 10/02/2025 | -1,070,468.00 | -9,610.00 | 0.00 |
| D3J99EQEOO | Gbp/usd Fwd 20251002 Midlgb22 | GBP | — | 10/02/2025 | 1,070,468.00 | -8,515.00 | 0.00 |
| DUZ5 COMDT | Euro-schatz Fut Dec25 | DUZ5 | — | 12/08/2025 | 376,800.00 | -654.00 | 0.00 |
| TUZ5 COMDT | US 2yr Note (cbt) Dec25 | TUZ5 | — | 12/31/2025 | 354,068,946.00 | 194,574.00 | 0.00 |
| TYZ5 COMDT | US 10yr Note (cbt)dec25 | TYZ5 | — | 12/19/2025 | -43,762,500.00 | -171,618.00 | 0.00 |
| USZ5 COMDT | US Long Bond(cbt) Dec25 | USZ5 | — | 12/19/2025 | 2,565,063.00 | 62,804.00 | 0.00 |
| WNZ5 COMDT | US Ultra Bond Cbt Dec25 | WNZ5 | — | 12/19/2025 | 5,763,000.00 | 142,229.00 | 0.00 |
| SWB8AEBGGQ | Trswap: Iboxig Index 12/22/2025 Mslsw_r | — | — | 12/22/2025 | -22,138.00 | -135,593.00 | 0.00 |
| L5217E120 | Intelsat Emergence Sa | — | — | — | 65,330.00 | 6.00 | 0.00 |
| MI8NQMF7UA | Eur/usd Fwd 20251002 5 | EUR | — | 10/02/2025 | -5,911,050.00 | -8,602.00 | 0.00 |
| OEZ5 COMDT | Euro-bobl Future Dec25 | OEZ5 | — | 12/08/2025 | 4,011,130.00 | -10,581.00 | 0.00 |
| QD1NJG9O3S | Gbp/usd Fwd 20251105 Mslngb2x | GBP | — | 11/05/2025 | -9,456,230.00 | 76,393.00 | 0.00 |
| RXZ5 COMDT | Euro-bund Future Dec25 | RXZ5 | — | 12/08/2025 | -3,018,952.00 | -290.00 | 0.00 |
| 853191AC8 | Standard Building Solutions Inc | BMCAUS | 6.25 | 08/01/2033 | 235,000.00 | 238,265.00 | 0.00 |
| B8AC2XW54 | Heritage Pwr Llc | — | — | — | 181,423.00 | 90,711.00 | 0.00 |
| B8AE1JR66 | Mitel Networks Intl Lt | — | — | — | 2,915.00 | 29.00 | 0.00 |
| B8AD73HC5 | Xplornet - Contingent Value Rights | — | — | — | 41,149.00 | 4.00 | 0.00 |
| B8AD9KJQ2 | Diamond Sports Grp Llc- Warrants | — | — | — | 163,947.00 | 1.00 | 0.00 |
| BBONP837DU | Eur/usd Fwd 20251002 57918 | EUR | — | 10/02/2025 | 5,911,050.00 | -220,829.00 | 0.00 |
| BL4454486 | Venator Finance Sarl | VNTR | 6.32 | 10/12/2028 | 7,762,588.00 | 155,251.00 | 0.00 |
| 629571AB6 | Nabors Industries Ltd | NBR | 7.5 | 01/15/2028 | 70,000.00 | 69,912.00 | 0.00 |
| 25381HAD0 | Digicel Group Holdings Ltd | DLLTD | — | 12/31/2030 | 552,944.00 | 55.00 | 0.00 |
| 25381HAM0 | Digicel Group Holdings Ltd | DLLTD | — | 12/31/2030 | 364,409.00 | 0.00 | 0.00 |
| 126307BB2 | CSC Holdings Llc | CSCHLD | 4.13 | 12/01/2030 | 200,000.00 | 131,014.00 | 0.00 |
| 126307BD8 | CSC Holdings Llc | CSCHLD | 4.63 | 12/01/2030 | 200,000.00 | 70,187.00 | 0.00 |
| 126307BF3 | CSC Holdings Llc | CSCHLD | 3.38 | 02/15/2031 | 200,000.00 | 129,148.00 | 0.00 |
| 12687GAB5 | Cablevision Lightpath Llc | CVLGHT | 5.63 | 09/15/2028 | 200,000.00 | 196,640.00 | 0.00 |
| 131347CQ7 | Calpine Corp | CPN | 5.0 | 02/01/2031 | 250,000.00 | 249,206.00 | 0.00 |
| 22Q1KTAUKD | Eur/usd Fwd 20251105 57918 | EUR | — | 11/05/2025 | -31,341,065.00 | 191,021.00 | 0.00 |
| 071734AM9 | Bausch Health Cos Inc | BHCCN | 5.0 | 02/15/2029 | 330,000.00 | 247,500.00 | 0.00 |
| 071734AK3 | Bausch Health Cos Inc | BHCCN | 6.25 | 02/15/2029 | 25,000.00 | 19,920.00 | 0.00 |
| 00191AAD8 | ARD Finance Sa | ARDFIN | 6.5 | 06/30/2027 | 3,436,205.00 | 103,086.00 | 0.00 |
| 021ESCAG3 | ALTA Mesa Holdings Lp / Alta Mesa Financ | ALTMES | — | 12/15/2025 | 10,985,000.00 | 10.00 | 0.00 |
| SWB8ADHGQL | Trswap: Iboxig Index 12/20/2025 Mslsw_r | — | — | 12/20/2025 | -13,916.00 | -315,829.00 | -0.01 |
| SWB8ADYKA9 | Trswap: Iboxig Index 12/22/2025 Mslsw_r | — | — | 12/22/2025 | -32,867.00 | -612,145.00 | -0.01 |
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ABOUT
PGIM Fixed Income, with $862 billion in assets under management as of March 31, 2025, is a global asset manager offering active solutions across all fixed income markets. The company has offices in Newark, N.J., London, Tokyo and Singapore. At PGIM Fixed Income we believe that research-driven security selection is the most consistent strategy for adding value to client portfolios. The firm complements that base strategy with active sector rotation, duration management, and superior trade execution. Risk budgeting is central to this approach. PGIM Limited is also a subadvisor on this fund. PGIM Limited is an indirect, wholly-owned subsidiary of PGIM, Inc. (“PGIM”), the principal asset management business of Prudential Financial, Inc. (“PFI”), a company incorporated and with its principal place of business in the United States.
Robert Cignarella, Robert Spano, Brian Clapp, Michael Gormally, and Brian Lalli of PGIM Fixed Income are primarily responsible for management of the PGIM Short Duration High Yield Income Fund.
Robert Cignarella, CFA
Managing Director and Head of U.S. High Yield for PGIM Fixed Income
Robert Cignarella, CFA, is a Managing Director and Head of U.S. High Yield for PGIM Fixed Income.
Robert Spano, CFA
Principal and Portfolio Manager for PGIM Fixed Income's U.S. High Yield Bond Team
Robert Spano, CFA, CPA, is a Principal and a high yield portfolio manager for PGIM Fixed Income's U.S. High Yield Bond Team.
Brian Clapp
Principal and a high yield portfolio manager for PGIM Fixed Income's U.S. High Yield Team
Brian Clapp, CFA, is a Principal and a high yield portfolio manager for PGIM Fixed Income's U.S. High Yield Team.
Michael Gormally
Vice President, Portfolio Manager, and a Trader for PGIM Fixed Income's U.S. High Yield Bond Team
PGIM Fixed Income
Michael Gormally is a Vice President, portfolio manager, and trader for PGIM Fixed Income's U.S. High Yield Bond Team
Brian Lalli
Principal and portfolio manager for PGIM Fixed Income's U.S. High Yield Bond Team
PGIM Fixed Income
Brian Lalli is a Principal and portfolio manager for PGIM Fixed Income's U.S. High Yield Bond Team.
Average Maturity is the average time to maturity for a bond. Credit quality is calculated using the highest rating assigned by a nationally recognized statistical rating organization (NRSRO) such as Moody’s, S&P, or Fitch. The Not Rated category consists of securities that have not been rated by an NRSRO. Duration measures investment risk that takes into account both a bond's interest payments and its value to maturity. Standard Deviation depicts how widely returns vary around its average and is used to understand the range of returns most likely for a given fund. A higher standard deviation generally implies greater volatility. Due to data availability, statistics may not be as of the current reporting period.
Enhanced cash strategies are variations on traditional money market vehicles. They are designed to provide liquidity and principal preservation, but with more of an emphasis on seeking returns that are superior to those of traditional money market offerings.
Source: Benchmarks - Lipper Inc.; Statistics - Morningstar Inc.; All other data from PGIM, Inc.
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Class R6 and Z shares may be available to group retirement plans and institutional investors through certain retirement, mutual fund wrap and asset allocation programs. They may also be available to institutional investors. Class Z shares may be available through fee- or commission-based retail brokerage programs of certain financial intermediaries. Class A, C, and Z shares are generally closed to new retirement plans. Please see the prospectus for additional information about fees, expenses, and investor eligibility.
Consider a fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about the fund. For more information about a fund, click on the prospectus or summary prospectus link above. Read them carefully before investing.
Investment products are distributed by Prudential Investment Management Services LLC, member FINRA and SIPC. PGIM Investments is a registered investment advisor and investment manager to PGIM registered investment companies. PGIM Fixed Income is a unit of PGIM, a registered investment advisor. PGIM Limited acts as a subadvisor to all fixed income funds. PGIM Limited is an indirect, wholly owned subsidiary of PGIM, Inc. (PGIM), the principal asset management business of Prudential Financial, Inc. (PFI), a company incorporated and with its principal place of business in the United States. All are Prudential Financial affiliates. © 2025 Prudential Financial, Inc. and its related entities. PGIM, PGIM Investments, PGIM Fixed Income, PGIM Limited, and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.
This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. The information is not intended as investment advice and is not a recommendation. Clients seeking information regarding their particular investment needs should contact their financial professional.
INVESTMENT PRODUCTS | Are not insured by the FDIC or any federal government agency | May lose value | Are not a deposit of or guaranteed by any bank or any bank affiliate.
Prudential Financial, Inc. of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom.
4341912 Ed. 03/2025
Fund Literature
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