PGIM Floating Rate Income Fund (FRFZX)
$
)
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.
MorningStar Rankings
Source: Morningstar. All rights reserved. Used with permission. Class Z shares inception: 3/30/2011. Morningstar rankings are based on total return, do not include the effects of sales charges, and are calculated against all funds in the Morningstar US Fund Nontraditional Bond category.
Past performance does not guarantee future results.
Seeks to maximize current income by investing primarily in senior floating rate loans. The Fund may be appropriate for investors seeking to enhance diversification away from traditional fixed income asset class.
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) | 10.20 |
| Standard Deviation (3 year) | 3.50 |
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.
Morningstar rankings for 1-, 3-, 5-, and 10-years are Class A: 36/221, 30/215, 30/204, and 17/174; Class C: 108/221, 122/215, 101/204, and 106/174; Class R6: 16/221, 14/215, 12/204, and 2/174; Class Z: 19/221, 15/215, 14/204, and 4/174.
PGIM Floating Rate Income Fund (Class Z) Lipper total return ranking for the 1-, 3-, 5-, and 10-year periods as of 12/31/2024 for the Loan Participation Funds category were: 20/235, 57/214, 3/204, and 3/162, respectively. Lipper Funds category rankings are based on total return, do not take sales charges into account, and are calculated against all funds in each fund’s respective Lipper category.
Class Z Lipper total return ranking for the 1-, 3-, 5-, and 10-year periods as of 6/30/2025: 29/238, 15/220, 8/206, and 4/171, respectively. Past Performance is no guarantee of future results.
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. Floating rate and other loans are subject to the risk that failure to receive scheduled interest or principal payments on a loan would adversely affect the income of the Fund and would likely reduce the value of its assets. The Fund’s investments in loans may subject it to additional illiquidity risks. Leveraging techniques may magnify loses. 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 Floating Rate Income Fund.
See Performance of other PGIM Investments Mutual Funds.
See Calendar Year Performance for the PGIM Floating Rate Income Fund.
See Daily Returns for the PGIM Floating Rate Income Fund.
See Quarterly SEC Standardized Performance of other PGIM Investments Mutual Funds.
See Calendar Year Performance for the PGIM Floating Rate Income Fund.
|
Fund Expenses
|
Maximum Sales Charge (%)
|
|||
|---|---|---|---|---|
|
Class
|
Gross (%)
|
Net (%)
|
Date*
|
|
| A | 1.20 | 1.10 | 06/30/2026 | 2.25 |
| C | 1.96 | 1.85 | 06/30/2026 | 1.00 |
| R6 | 0.85 | 0.80 | 06/30/2026 | — |
| Z | 0.97 | 0.85 | 06/30/2026 | — |
The Adjusted Expense Ratio excludes expenses from certain investments such as interest expense from borrowings and repurchase agreements. The Fund’s Adjusted Expense Ratio by share class: A 0.95%, C 1.70%, Z 0.70%, R6 0.65%.
*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 Bank Loan Category Average: Bank-loan portfolios primarily invest in floating-rate bank loans and floating-rate below investment- grade securities instead of bonds. In exchange for their credit risk, these loans offer high interest payments that typically float above a common short-term benchmarks such as Libor or SOFR.
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 | 9.04 | -0.02 | -0.22 | 9.25 | 218,692,822.72 |
| C | 9.05 | -0.02 | -0.22 | — | 46,066,596.36 |
| R6 | 9.05 | -0.02 | -0.22 | — | 220,320,993.22 |
| Z | 9.05 | -0.02 | -0.22 | — | 1,890,816,443.74 |
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 | 9.16 | 01/31/2025 | 8.77 | 04/07/2025 |
| C | 9.16 | 01/31/2025 | 8.78 | 04/11/2025 |
| R6 | 9.17 | 01/31/2025 | 8.78 | 04/07/2025 |
| Z | 9.17 | 01/31/2025 | 8.78 | 04/07/2025 |
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 | 6.34 | 6.24 | 6.92 | 7.08 | — |
| C - View Prospectus | 5.73 | 5.60 | — | 6.34 | — |
| R6 - View Prospectus | 6.79 | 6.73 | — | 7.38 | — |
| Z - View Prospectus | 6.74 | 6.62 | — | 7.33 | — |
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
Sector Breakdown (% of Assets)
|
Sector Breakdown
|
% of Assets
|
|---|---|
| Bank Loans | 66.4% |
| ABS | 17.4% |
| Investment Grade Corporates | 9.5% |
| High Yield Corporates | 5.0% |
| Non Agency MBS | 0.8% |
| U.S. Treasuries | 0.7% |
| Commercial MBS | 0.5% |
| Emerging Markets Hard Currency | 0.2% |
| Other | 0.1% |
| Cash/Equiv | -0.7% |
Largest Industries (% of Assets)
|
Industry
|
Fund (% of Assets)
|
|---|---|
| Banking | 9.0% |
| Technology | 8.6% |
| Consumer Non-Cyclical | 7.5% |
| Health Care & Pharmaceutical | 5.6% |
| Chemicals | 4.4% |
| Gaming & Lodging & Leisure | 4.2% |
| Transportation & Environmental Services | 3.8% |
| Building Materials & Home Construction | 3.8% |
| Capital Goods | 3.4% |
| Retailers & Restaurants | 2.7% |
Credit Quality (% of Assets)
|
Credit Quality
|
% of Assets
|
|---|---|
| AAA | 1.8% |
| AA | 16.2% |
| A | 1.8% |
| BBB | 11.2% |
| BB | 21.2% |
| B | 41.4% |
| CCC | 2.0% |
| C | 0.1% |
| Not Rated | 5.1% |
| Cash/Equiv | -0.7% |
FUND STATISTICS
|
Fund Statistics
|
Years
|
|---|---|
| Average Maturity (years) | 10.2 |
| Standard Deviation (3 year) | 3.50 |
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
|
|---|---|---|---|---|---|---|---|
| 74440W862 | (pipa070) Pgim Core Government Money Mar | — | 4.38 | 12/01/2099 | 58,795,090.00 | 58,795,090.00 | 2.38 |
| 0641598X7 | BANK Of Nova Scotia/the | BNS | 7.35 | 04/27/2085 | 31,000,000.00 | 31,810,259.00 | 1.29 |
| BL5098621 | Brookfield Ppty Ret Hld | BPYU | 7.86 | 05/28/2030 | 31,618,557.00 | 31,697,603.00 | 1.29 |
| 172967MV0 | Citigroup Inc | C | 3.88 | 05/18/2174 | 26,500,000.00 | 26,230,787.00 | 1.06 |
| 48128BAH4 | Jpmorgan Chase & Co | JPM | 7.04 | 10/01/2173 | 23,015,000.00 | 23,064,214.00 | 0.94 |
| 750104AQ4 | RAD Clo 19 Ltd | RAD | 6.28 | 03/20/2038 | 20,000,000.00 | 20,068,244.00 | 0.81 |
| 89116CKP1 | Toronto-dominion Bank/the | TD | 7.25 | 07/31/2084 | 19,005,000.00 | 19,670,175.00 | 0.80 |
| 38181PAE5 | Golub Capital Partners Clo 68b Ltd | GCBSL | 5.97 | 07/25/2038 | 18,600,000.00 | 18,603,757.00 | 0.75 |
| 14318QAE0 | Carlyle Us Clo 2023-5 Ltd | CGMS | 6.96 | 01/27/2036 | 18,250,000.00 | 18,385,473.00 | 0.75 |
| BL4417558 | CLUE Opco Llc | FWRD | 8.81 | 12/19/2030 | 18,103,867.00 | 18,092,551.00 | 0.73 |
| 83012DAU7 | Sixth Street Clo Xvi Ltd | SIXST | 6.78 | 01/20/2037 | 17,200,000.00 | 17,290,499.00 | 0.70 |
| 12516LAG0 | Cbamr 2018-5 Ltd | CBAMR | — | 10/17/2038 | 16,000,000.00 | 16,000,000.00 | 0.65 |
| 17327CAV5 | Citigroup Inc | C | 6.95 | 05/15/2174 | 15,435,000.00 | 15,718,978.00 | 0.64 |
| BL3425255 | Gainwell Acquisition Corp | MILACQ | 8.4 | 10/01/2027 | 15,615,380.00 | 15,342,110.00 | 0.62 |
| BL4795565 | Hudson River Trading Llc | HURVTR | 7.37 | 03/18/2030 | 15,168,292.00 | 15,199,888.00 | 0.62 |
| BL4571925 | Foundation Building M | FBM | 8.31 | 01/29/2031 | 14,974,226.00 | 15,014,342.00 | 0.61 |
| 04942PAL1 | Atlas Static Senior Loan Fund I Ltd | ATSTC | 6.97 | 07/15/2030 | 14,250,000.00 | 14,260,094.00 | 0.58 |
| 06055HAK9 | BANK Of America Corp | BAC | 6.25 | 10/26/2173 | 13,855,000.00 | 13,874,916.00 | 0.56 |
| 420916AG3 | Hayfin Us Xv Ltd | HAYFN | 6.51 | 04/28/2037 | 13,500,000.00 | 13,579,008.00 | 0.55 |
| 758971AC9 | Regatta Xxix Funding Ltd | REG29 | 6.07 | 09/06/2037 | 13,500,000.00 | 13,533,362.00 | 0.55 |
| BL4766582 | Action Environmental Gro | ACTENV | 7.55 | 10/24/2030 | 13,648,565.00 | 13,648,564.00 | 0.55 |
| BL3679885 | Upstream Newco Inc | UPSREH | 8.82 | 11/20/2026 | 16,542,515.00 | 13,564,862.00 | 0.55 |
| BL5017431 | TK Elevator Us Newco Inc | THYELE | 7.2 | 04/30/2030 | 13,320,123.00 | 13,363,826.00 | 0.54 |
| 38141GYU2 | Goldman Sachs Group Inc/the | GS | 4.13 | 05/10/2074 | 13,458,000.00 | 13,107,089.00 | 0.53 |
| B8AE266B5 | Envision Healthcare Operating Inc | — | 10.86 | 12/31/2030 | 12,771,186.00 | 12,851,006.00 | 0.52 |
| 48255PAC9 | KKR Clo 41 Ltd | KKR | 6.22 | 04/15/2035 | 12,500,000.00 | 12,501,247.00 | 0.51 |
| BL5184058 | Allied Universal Holdco | UNSEAM | — | 08/06/2032 | 12,450,000.00 | 12,484,586.00 | 0.51 |
| BL5083276 | Voyager Parent Llc | EVRI | 9.04 | 07/01/2032 | 12,375,000.00 | 12,388,748.00 | 0.50 |
| BL4871903 | Acrisure Llc | ACRISU | 7.36 | 11/06/2030 | 12,368,359.00 | 12,342,596.00 | 0.50 |
| BL4949832 | Clarios Global Lp | POWSOL | 7.11 | 01/28/2032 | 12,400,000.00 | 12,384,500.00 | 0.50 |
| BL4964625 | Boost Newco Borrower Llc | WRLDPY | 6.3 | 01/31/2031 | 12,205,360.00 | 12,205,360.00 | 0.50 |
| 12659UAN2 | CQS Us Clo 2021-1 Ltd | CQS | 6.08 | 01/20/2035 | 12,400,000.00 | 12,415,621.00 | 0.50 |
| 780082AT0 | Royal Bank Of Canada | RY | 6.35 | 11/24/2084 | 12,750,000.00 | 12,335,625.00 | 0.50 |
| 88676LAY7 | Tikehau Us Clo Ii Ltd | TKO | 6.13 | 01/20/2038 | 12,150,000.00 | 12,196,567.00 | 0.49 |
| 88676NAU1 | Tikehau Us Clo Iii Ltd | TKO | 7.08 | 01/20/2036 | 12,000,000.00 | 12,060,139.00 | 0.49 |
| BL4985588 | Athenahealth Group Inc | ATHENA | 7.11 | 02/15/2029 | 11,972,093.00 | 11,959,617.00 | 0.49 |
| BL5173895 | NEON Maple Us Debt Merge | NVEICN | 7.11 | 11/17/2031 | 12,044,812.00 | 12,041,054.00 | 0.49 |
| B8AC2XVL0 | Heritage Pwr Llc | — | — | — | 182,367.00 | 11,884,310.00 | 0.48 |
| 13887TAW7 | Canyon Capital Clo 2019-1 Ltd | CANYC | 6.12 | 07/15/2037 | 11,500,000.00 | 11,561,336.00 | 0.47 |
| SWZ96ZAV0E | ICE: (cdx.na.ig.44.v1) | — | 1.0 | 06/20/2030 | 487,025,000.00 | 11,517,791.00 | 0.47 |
| 05682CAQ0 | BAIN Capital Credit Clo 2023-3 Ltd | BCC | 5.9 | 10/24/2038 | 11,200,000.00 | 11,223,747.00 | 0.46 |
| 55822EAN9 | Madison Park Funding Lix Ltd | MDPK | 6.25 | 04/18/2037 | 11,000,000.00 | 11,043,473.00 | 0.45 |
| BL5203098 | Transdigm Inc | TDG | — | 08/13/2032 | 10,975,000.00 | 10,979,576.00 | 0.45 |
| 67629HAG7 | OFSI Bsl Xii Ltd | OFSBS | 6.13 | 01/20/2035 | 10,550,000.00 | 10,594,867.00 | 0.43 |
| BL3984111 | Asurion Llc | ASUCOR | 8.46 | 08/19/2028 | 10,749,025.00 | 10,701,997.00 | 0.43 |
| BL3643378 | TGP Holdings Iii Llc | TGPHLD | 7.71 | 06/29/2028 | 11,563,189.00 | 10,435,778.00 | 0.42 |
| 172967PR6 | Citigroup Inc | C | 6.75 | 02/15/2173 | 10,295,000.00 | 10,394,259.00 | 0.42 |
| BL4985935 | Focus Financial Partners Llc | FOCS | 7.11 | 09/15/2031 | 10,292,190.00 | 10,286,560.00 | 0.42 |
| BL5059326 | Verifone Systems Inc | PAY | 10.07 | 08/18/2028 | 10,535,888.00 | 10,000,316.00 | 0.41 |
| BL5189347 | INDY Us Holdco Llc | INDYUS | 6.86 | 10/31/2030 | 10,276,922.00 | 10,212,690.00 | 0.41 |
| BL5193216 | Qnity Electronics Inc | QNTELE | — | 08/12/2032 | 10,125,000.00 | 10,087,031.00 | 0.41 |
| 36362MAE7 | Gallatin Clo X 2023-1 Ltd | GALL | 7.37 | 10/14/2035 | 10,000,000.00 | 10,039,599.00 | 0.41 |
| 04943PAE6 | Atlas Senior Loan Fund Xxiv Ltd | ATCLO | 6.23 | 01/20/2038 | 10,000,000.00 | 10,033,522.00 | 0.41 |
| 03330NAW4 | Anchorage Capital Clo 11 Ltd | ANCHC | 6.28 | 07/22/2037 | 10,000,000.00 | 10,051,425.00 | 0.41 |
| 172967PK1 | Citigroup Inc | C | 7.13 | 11/15/2173 | 9,870,000.00 | 10,127,712.00 | 0.41 |
| 89624JAS6 | Trimaran Cavu 2019-2 Ltd | CAVU | — | 03/18/2038 | 10,000,000.00 | 10,000,000.00 | 0.41 |
| BL4045797 | Tenneco Inc | TENINC | 9.3 | 11/17/2028 | 10,113,475.00 | 10,066,518.00 | 0.41 |
| BL4047090 | Tenneco Inc | TEN | 9.05 | 11/17/2028 | 9,911,800.00 | 9,845,718.00 | 0.40 |
| CURRENCY | Currency | — | — | — | 9,764,208.00 | 9,897,732.00 | 0.40 |
| BL5118916 | Bingo Holdings I Llc | AGS | 9.05 | 06/14/2032 | 9,900,000.00 | 9,900,000.00 | 0.40 |
| BL3572783 | First Brands Group Llc | TRICGR | 13.07 | 03/30/2028 | 10,730,000.00 | 9,657,000.00 | 0.39 |
| B8ADAMRM6 | International Park Hldgs Bv | — | 7.29 | 12/31/2031 | 8,325,000.00 | 9,560,173.00 | 0.39 |
| BL4263655 | MH Sub I Llc | INET | 8.61 | 05/03/2028 | 10,474,657.00 | 9,704,329.00 | 0.39 |
| 12550ABH8 | CIFC Funding 2014-v Ltd | CIFC | 6.07 | 07/17/2037 | 9,650,000.00 | 9,670,177.00 | 0.39 |
| 38144GAB7 | Goldman Sachs Group Inc/the | GS | 7.56 | 08/10/2172 | 9,444,000.00 | 9,520,766.00 | 0.39 |
| 36362HAE8 | Gallatin Clo Xi 2024-1 Ltd | GALL | 6.28 | 10/20/2037 | 9,275,000.00 | 9,326,229.00 | 0.38 |
| 62432BAQ6 | Mountain View Clo Ix Ltd | MVW | 6.36 | 07/15/2031 | 9,250,000.00 | 9,270,314.00 | 0.38 |
| 780082AR4 | Royal Bank Of Canada | RY | 7.5 | 05/02/2084 | 9,000,000.00 | 9,382,500.00 | 0.38 |
| BL5168127 | Belron Finance 2019 Llc | BELRON | 6.74 | 10/16/2031 | 9,438,600.00 | 9,473,994.00 | 0.38 |
| BL4990463 | GFL Es Us Llc | GFLCN | 6.82 | 03/03/2032 | 9,450,000.00 | 9,438,187.00 | 0.38 |
| BL4978666 | Genesys Cloud Services | GCTI | 6.86 | 01/30/2032 | 9,340,399.00 | 9,335,728.00 | 0.38 |
| BL4808012 | TPC Group Inc | TPCG | 9.95 | 11/21/2031 | 9,827,130.00 | 9,483,180.00 | 0.38 |
| BL4871549 | Solenis Holdings Ltd | SOLEIN | 7.3 | 06/20/2031 | 9,201,104.00 | 9,157,012.00 | 0.37 |
| BL4979052 | Great Outdoors Group Llc | BASSPR | 7.61 | 01/23/2032 | 8,994,280.00 | 9,012,269.00 | 0.37 |
| 82670QAS8 | Signal Peak Clo 9 Ltd | SPEAK | 6.08 | 01/21/2038 | 9,185,000.00 | 9,213,674.00 | 0.37 |
| 912810UF3 | United States Treasury Note/bond | T | 4.63 | 11/15/2044 | 9,405,000.00 | 9,125,789.00 | 0.37 |
| BL4070472 | CSC Holdings Llc | CSCHLD | 8.86 | 01/18/2028 | 8,972,935.00 | 8,942,086.00 | 0.36 |
| BL5173515 | Amneal Pharmaceuticals Llc | AMNPHA | 7.85 | 07/30/2032 | 8,775,000.00 | 8,753,062.00 | 0.36 |
| PBL5007242 | Windsor Holdings Iii Llc | UNVR | 7.1 | 08/01/2030 | 8,823,113.00 | 8,804,734.00 | 0.36 |
| BL4843290 | Sandisk Corp | SNDK | 7.34 | 02/23/2032 | 8,752,500.00 | 8,714,207.00 | 0.35 |
| 92332YAF8 | Venture Global Lng Inc | VENLNG | 9.0 | 03/30/2173 | 8,680,000.00 | 8,634,471.00 | 0.35 |
| 92918FAG9 | VOYA Clo 2019-3 Ltd | VOYA | 6.23 | 10/17/2032 | 8,650,000.00 | 8,678,706.00 | 0.35 |
| 89641XAC9 | Trinitas Clo Xv Ltd | TRNTS | 6.29 | 04/22/2034 | 8,350,000.00 | 8,347,823.00 | 0.34 |
| BL4622694 | Lumen Technologies Inc | LUMN | 6.82 | 04/15/2030 | 8,458,917.00 | 8,395,474.00 | 0.34 |
| BL4673614 | Harbor Freight Tools | HARFRE | 6.61 | 06/11/2031 | 8,565,981.00 | 8,454,143.00 | 0.34 |
| BL4803666 | Qualitytech Lp | QTS | 7.84 | 11/04/2031 | 8,379,000.00 | 8,399,947.00 | 0.34 |
| BL5173937 | Sedgwick Cms Inc | SEDGEW | 6.86 | 07/31/2031 | 8,461,889.00 | 8,477,755.00 | 0.34 |
| BL5180098 | Emrld Borrower Lp | EMECLI | 6.58 | 05/31/2030 | 8,185,623.00 | 8,171,552.00 | 0.33 |
| 67576PBC0 | Octagon Investment Partners 42 Ltd | OCT42 | 6.12 | 07/15/2037 | 8,100,000.00 | 8,114,119.00 | 0.33 |
| 69344A206 | PGIM Active High Yield Bond Etf | PHYL | — | — | 225,000.00 | 8,032,500.00 | 0.33 |
| 69391NAA9 | PMT Credit Risk Transfer Trust 2024-2r | PMTCR | 7.7 | 03/29/2027 | 7,987,157.00 | 8,064,962.00 | 0.33 |
| 28621YAS4 | Elevation Clo 2020-11 Ltd | AWPT | 6.32 | 10/15/2037 | 8,125,000.00 | 8,152,233.00 | 0.33 |
| BL4653624 | CPI Holdco B Llc | CPIHLB | 6.36 | 05/17/2031 | 7,947,375.00 | 7,929,159.00 | 0.32 |
| BL3973320 | Patagonia Holdco Llc | PATAGO | 9.98 | 08/01/2029 | 9,953,439.00 | 7,881,879.00 | 0.32 |
| BL3838671 | Rainbow Uk Bidco Ltd | WELLAC | 8.77 | 02/23/2029 | 5,775,000.00 | 7,783,540.00 | 0.32 |
| BL5049814 | Madison Iaq Llc | MADIAQ | 7.45 | 05/06/2032 | 7,850,000.00 | 7,885,325.00 | 0.32 |
| BL5017167 | Aadvantage Loyalty Ip Ltd | AAL | 6.58 | 04/20/2028 | 7,915,871.00 | 7,894,434.00 | 0.32 |
| BL4842664 | Phoenix Guarantor Inc | BRIHEA | 6.86 | 02/21/2031 | 7,834,519.00 | 7,838,326.00 | 0.32 |
| BL4883627 | Mcafee Corp | MCFE | 7.35 | 03/01/2029 | 8,385,630.00 | 7,945,384.00 | 0.32 |
| BL4874717 | Calpine Corp | CPN | 6.11 | 01/31/2031 | 7,595,010.00 | 7,585,728.00 | 0.31 |
| BL5018603 | Alltech Inc | ALLTEC | 8.72 | 08/13/2030 | 7,511,380.00 | 7,530,158.00 | 0.31 |
| BL5162617 | Crown Subsea Communicati | SUBCOM | 7.82 | 01/30/2031 | 7,596,218.00 | 7,646,861.00 | 0.31 |
| BL3287994 | Allen Media Llc | ALNMED | 9.95 | 02/10/2027 | 11,565,465.00 | 7,729,582.00 | 0.31 |
| BL4643443 | Entain Holdings Gibralta | ENTLN | 7.02 | 10/31/2029 | 7,665,692.00 | 7,665,691.00 | 0.31 |
| BL4645844 | Doncasters Finance Us Llc | DONCAS | 10.8 | 04/23/2030 | 7,475,375.00 | 7,550,128.00 | 0.31 |
| 652927AJ3 | NGC 2024-i Ltd | NGC | 6.43 | 07/20/2037 | 7,650,000.00 | 7,675,104.00 | 0.31 |
| 67573CAW9 | Octagon Investment Partners 32 Ltd | OCT32 | 6.12 | 10/31/2037 | 7,600,000.00 | 7,618,783.00 | 0.31 |
| 92840MAC6 | Vistra Corp | VST | 7.0 | 06/15/2174 | 7,375,000.00 | 7,476,264.00 | 0.30 |
| BL5173432 | Savage Enterprises Llc | SAVENT | 6.85 | 08/04/2032 | 7,500,000.00 | 7,506,247.00 | 0.30 |
| BL4845451 | TEI Holdings Inc | CRIPRE | 8.3 | 04/09/2031 | 7,340,375.00 | 7,294,497.00 | 0.30 |
| BL4811750 | Grinding Media Inc | GRIMED | 7.83 | 10/12/2028 | 7,263,434.00 | 7,227,117.00 | 0.29 |
| BL4908549 | Clydesdale Acquisition | NOVHOL | 7.61 | 04/01/2032 | 7,223,711.00 | 7,213,959.00 | 0.29 |
| BL4978641 | Recess Holdings Inc | RECESS | 8.07 | 02/20/2030 | 7,105,120.00 | 7,119,920.00 | 0.29 |
| BL5162419 | Broadstreet Partners Inc | BROPAR | 7.11 | 06/13/2031 | 7,156,216.00 | 7,150,849.00 | 0.29 |
| BL5144268 | Fortress Intermediate | PSDO | 7.35 | 06/27/2031 | 7,146,000.00 | 7,154,932.00 | 0.29 |
| 69392AAA6 | PMT Credit Risk Transfer Trust 2024-3r | PMTCR | 7.45 | 09/27/2028 | 7,156,773.00 | 7,225,222.00 | 0.29 |
| BL3674951 | Asurion Llc | ASUCOR | 9.72 | 01/20/2029 | 7,659,924.00 | 7,267,353.00 | 0.29 |
| BL4583235 | Summer Bc Holdco B Sarl | KANGRP | 9.56 | 02/15/2029 | 7,026,572.00 | 6,921,173.00 | 0.28 |
| BL4431708 | Jfl-tiger Acquisition Co | HCCI | 8.07 | 10/17/2030 | 6,865,610.00 | 6,865,609.00 | 0.28 |
| BL4560209 | Zelis Payments Buyer Inc | STRATO | 7.11 | 09/28/2029 | 7,009,617.00 | 6,986,254.00 | 0.28 |
| BL4922748 | Graftech Global Enterpri | EAF | 10.35 | 11/11/2029 | 6,840,553.00 | 6,960,262.00 | 0.28 |
| BL4874147 | Grant Thornton Advisors | GRATHO | 6.86 | 06/02/2031 | 7,023,324.00 | 7,014,544.00 | 0.28 |
| BL5192010 | Belfor Holdings Inc | BELFUS | 7.11 | 11/01/2030 | 6,867,185.00 | 6,897,263.00 | 0.28 |
| BL4985356 | Azuria Water Solutions Inc | AEGN | 7.36 | 05/17/2028 | 6,594,770.00 | 6,598,891.00 | 0.27 |
| BL5173457 | Alliance Laundry Systems | ALH | 2.25 | 08/19/2031 | 6,750,000.00 | 6,736,500.00 | 0.27 |
| BL4587764 | Magnera Corp | MAGN | 8.58 | 11/04/2031 | 6,586,000.00 | 6,553,070.00 | 0.27 |
| BL4755601 | Lifepoint Health Inc | RGCARE | 8.07 | 05/16/2031 | 6,753,048.00 | 6,696,369.00 | 0.27 |
| BL4778223 | Nouryon Finance Bv | SPCHEM | 7.6 | 04/03/2028 | 6,644,472.00 | 6,638,936.00 | 0.27 |
| B8ADVZ4C1 | Denali Intermediate Hldg Inc | — | — | 05/31/2032 | 6,786,758.00 | 6,718,890.00 | 0.27 |
| BL3095082 | Plaze Inc | PLAZEI | 7.97 | 08/03/2026 | 7,133,721.00 | 6,456,017.00 | 0.26 |
| 25525PAB3 | Diversified Healthcare Trust | DHC | 4.38 | 03/01/2031 | 7,519,000.00 | 6,383,625.00 | 0.26 |
| BL5159126 | Radiate Holdco Llc | RADIAT | 7.94 | 09/25/2029 | 8,044,284.00 | 6,515,869.00 | 0.26 |
| BL5024205 | Rockpoint Gas Storage Pa | ROCGAS | 7.3 | 09/18/2031 | 6,280,938.00 | 6,294,680.00 | 0.26 |
| BL4986859 | ECO Material Tech Inc | ECOMAT | 7.47 | 02/12/2032 | 6,533,000.00 | 6,528,916.00 | 0.26 |
| BL4810430 | Caesars Entertainment Inc | CZR | 6.61 | 02/06/2030 | 6,490,909.00 | 6,471,436.00 | 0.26 |
| BL4789857 | Trident Tpi Holdings Inc | TEKNI | 8.05 | 09/15/2028 | 6,377,357.00 | 6,087,187.00 | 0.25 |
| BL4990398 | Arsenal Aic Parent Llc | ARNC | 7.11 | 08/18/2030 | 6,165,891.00 | 6,168,462.00 | 0.25 |
| BL4986826 | EAB Global Inc | EABGLO | 7.36 | 08/16/2030 | 6,252,964.00 | 6,139,629.00 | 0.25 |
| BL4978401 | Vetstrategy Canada Hold | INDVET | 8.05 | 12/12/2028 | 6,069,270.00 | 6,099,615.00 | 0.25 |
| BL5125440 | Cinemark Usa Inc | CNK | 6.59 | 05/24/2030 | 6,253,915.00 | 6,257,823.00 | 0.25 |
| BL3595057 | Corelogic Inc | CLGX | 7.97 | 06/02/2028 | 6,241,303.00 | 6,216,337.00 | 0.25 |
| BL3840131 | Accelerated Health Syste | ACCHEA | 8.7 | 02/15/2029 | 8,715,707.00 | 6,057,416.00 | 0.25 |
| BL4769248 | Jefferies Finance Llc | JEFFIN | 7.1 | 10/21/2031 | 6,079,063.00 | 6,079,062.00 | 0.25 |
| BL4686202 | Chart Industries Inc | GTLS | 6.79 | 03/15/2030 | 6,086,310.00 | 6,104,063.00 | 0.25 |
| BL4752848 | Froneri Us Inc | ICECR | 6.2 | 09/17/2031 | 6,134,625.00 | 6,081,370.00 | 0.25 |
| BL4686467 | Sound Inpatient Physicians Inc | SOUINP | 9.56 | 06/28/2028 | 6,331,494.00 | 5,967,433.00 | 0.24 |
| BL4686483 | Sound Inpatient Physicia | SOUINP | 11.31 | 06/28/2029 | 7,250,132.00 | 6,017,609.00 | 0.24 |
| BL4780815 | Jupiter Buyer Inc | ARCHKE | 9.05 | 11/01/2031 | 5,793,171.00 | 5,822,136.00 | 0.24 |
| BL4760684 | Crosby Us Acquisition Corp | CROSBY | 7.86 | 08/16/2029 | 5,811,795.00 | 5,841,022.00 | 0.24 |
| BL3280718 | Markermeer Finance Bv | GUSFIN | 5.16 | 01/29/2027 | 5,000,000.00 | 5,838,532.00 | 0.24 |
| 17327CBC6 | Citigroup Inc | C | 6.88 | 11/15/2173 | 5,685,000.00 | 5,796,405.00 | 0.24 |
| BL5101953 | Gategroup Us Finance Inc | GATESW | 8.56 | 05/28/2032 | 5,990,563.00 | 5,983,074.00 | 0.24 |
| BL4993863 | MPH Acquisition Holdings | MLTPLN | 9.17 | 12/31/2030 | 6,538,438.00 | 5,999,016.00 | 0.24 |
| BL5173952 | Starwood Property Mortga | STWD | 6.36 | 01/02/2030 | 6,032,266.00 | 5,994,564.00 | 0.24 |
| BL5174190 | Medline Borrower Lp | MEDIND | 6.36 | 10/23/2030 | 5,947,550.00 | 5,944,760.00 | 0.24 |
| BL5147105 | CP Atlas Buyer Inc | AMBATH | 9.61 | 07/08/2030 | 6,200,000.00 | 5,952,000.00 | 0.24 |
| BL5143047 | Crown Finance Us Inc | CINELN | 8.85 | 12/02/2031 | 5,950,000.00 | 5,941,324.00 | 0.24 |
| BL5023744 | PEER Holding Iii Bv | ACTINA | 6.8 | 07/01/2031 | 5,945,125.00 | 5,952,556.00 | 0.24 |
| BL5133691 | Nourish Buyer I Inc | NOUBUY | 8.83 | 07/08/2032 | 6,000,000.00 | 5,850,000.00 | 0.24 |
| BL5133808 | Inmar Inc | INMARI | 8.8 | 10/30/2031 | 5,963,422.00 | 5,967,148.00 | 0.24 |
| BL5179827 | Blackstone Mortgage Tr | BXMT | 6.84 | 05/09/2029 | 5,806,246.00 | 5,798,988.00 | 0.24 |
| BL5121795 | Colossus Acquireco Llc | COLPLN | 6.05 | 07/30/2032 | 5,600,000.00 | 5,565,000.00 | 0.23 |
| BL5170917 | Fertitta Entertainment L | NUGGET | 7.6 | 01/27/2029 | 5,593,462.00 | 5,587,868.00 | 0.23 |
| BL5042512 | Level 3 Financing Inc | LVLT | 8.61 | 03/27/2032 | 5,575,000.00 | 5,597,300.00 | 0.23 |
| BL4938900 | Hunter Douglas Inc | HDCINC | 7.55 | 01/17/2032 | 5,596,875.00 | 5,589,878.00 | 0.23 |
| BL4843068 | Catawba Nation Gaming Au | CATNAT | 9.05 | 03/28/2032 | 5,815,000.00 | 5,771,387.00 | 0.23 |
| 14318VAC3 | Carlyle Us Clo 2024-2 Ltd | CGMS | 6.37 | 04/25/2037 | 5,600,000.00 | 5,629,076.00 | 0.23 |
| 902973BC9 | US Bancorp | USB | 3.7 | 01/15/2174 | 5,813,000.00 | 5,607,475.00 | 0.23 |
| BL3540582 | PARK River Holdings Inc | PRIMBP | 7.8 | 12/28/2027 | 5,610,623.00 | 5,588,416.00 | 0.23 |
| BL3786607 | Secure Acquisition Inc | PARAGN | 8.05 | 12/15/2028 | 5,586,889.00 | 5,583,397.00 | 0.23 |
| BL3763382 | Victory Buyer Llc | VNTELV | 8.22 | 11/19/2028 | 5,632,219.00 | 5,618,138.00 | 0.23 |
| BL4649028 | GEON Performance Solutions Llc | GEPESO | 8.81 | 08/18/2028 | 6,189,701.00 | 5,771,896.00 | 0.23 |
| BL4665891 | RYAN Llc | RYNLLC | 7.86 | 11/14/2030 | 5,685,119.00 | 5,697,558.00 | 0.23 |
| BL4208296 | Virgin Media Bristol Llc | VMED | 7.37 | 03/31/2031 | 5,895,000.00 | 5,777,100.00 | 0.23 |
| BL4493823 | Flint Group Packaging In | FLINT | 8.83 | 12/31/2026 | 5,696,290.00 | 5,345,016.00 | 0.22 |
| BL4610012 | Quikrete Holdings Inc | QUIKHO | 6.61 | 03/19/2029 | 5,342,947.00 | 5,342,947.00 | 0.22 |
| BL4763795 | DAVE & Buster's Inc | PLAY | 7.56 | 11/01/2031 | 5,657,250.00 | 5,380,446.00 | 0.22 |
| BL4673192 | Ineos Us Finance Llc | INEGRP | 7.61 | 02/19/2030 | 5,864,745.00 | 5,329,586.00 | 0.22 |
| BL4728046 | Amentum Holdings Inc | AMNTEC | 6.61 | 09/29/2031 | 5,368,090.00 | 5,364,734.00 | 0.22 |
| BL2970889 | Natel Engineering Co Inc | NATENG | 10.72 | 04/30/2026 | 6,248,558.00 | 5,373,760.00 | 0.22 |
| BL3707702 | RED Planet Borrower Llc | LFTMOB | 8.21 | 10/02/2028 | 5,392,104.00 | 5,329,194.00 | 0.22 |
| 92840MAB8 | Vistra Corp | VST | 8.0 | 04/15/2174 | 5,225,000.00 | 5,347,064.00 | 0.22 |
| BL4862100 | Flutter Financing Bv | FLTR | 6.05 | 11/30/2030 | 5,368,322.00 | 5,343,154.00 | 0.22 |
| BL4850956 | VT Topco Inc | VERCOR | 7.36 | 08/09/2030 | 5,341,212.00 | 5,341,211.00 | 0.22 |
| BL4843258 | Discovery Energy Holding | DISENE | 8.05 | 05/01/2031 | 5,513,099.00 | 5,526,882.00 | 0.22 |
| BL4985299 | BMC Software Inc | BMC | 7.33 | 07/30/2031 | 5,543,053.00 | 5,533,042.00 | 0.22 |
| BL5019718 | RED Spv Llc | NWFOOD | 6.61 | 03/15/2032 | 5,450,000.00 | 5,450,000.00 | 0.22 |
| BL5135076 | Aggreko Holdings Inc | AGKLN | 7.22 | 05/21/2031 | 5,306,665.00 | 5,313,298.00 | 0.22 |
| BL5173556 | Greystar Real Estate Partner | GRSTAR | 6.81 | 08/21/2030 | 5,116,901.00 | 5,116,901.00 | 0.21 |
| BL4993855 | MPH Acquisition Holdings | MLTPLN | 8.06 | 12/31/2030 | 5,195,731.00 | 5,182,741.00 | 0.21 |
| BL4994770 | Covia Holdings Llc | CVIA | 7.55 | 02/26/2032 | 5,250,000.00 | 5,256,562.00 | 0.21 |
| BL5042678 | Vista Management Holding | VSTJET | 8.04 | 03/18/2031 | 5,220,000.00 | 5,237,946.00 | 0.21 |
| BL5072683 | Foundation Building M | FBM | 9.55 | 01/29/2031 | 5,225,000.00 | 5,251,125.00 | 0.21 |
| BL4990430 | Veritiv Operating Co | VRTV | 8.3 | 11/30/2030 | 5,357,957.00 | 5,290,982.00 | 0.21 |
| BL4938967 | Gloves Buyer Inc | PROINP | 8.36 | 05/21/2032 | 5,175,000.00 | 5,084,437.00 | 0.21 |
| BL4845345 | SCIH Salt Holdings Inc | MORTON | 7.2 | 01/31/2029 | 5,155,771.00 | 5,163,019.00 | 0.21 |
| BL4797926 | Quimper Ab | AHSLSS | 5.69 | 03/29/2030 | 4,500,000.00 | 5,282,649.00 | 0.21 |
| 74970WAJ9 | ROCK Trust 2024-cntr | ROCC | 8.82 | 11/13/2041 | 5,000,000.00 | 5,280,527.00 | 0.21 |
| BL3925031 | IRIS Holding Inc | ITPCN | 9.16 | 06/28/2028 | 5,440,246.00 | 5,255,277.00 | 0.21 |
| BL3971142 | Cornerstone Building | CNR | 9.99 | 08/01/2028 | 5,581,375.00 | 5,079,050.00 | 0.21 |
| BL3572759 | First Brands Group Llc | TRICGR | 9.57 | 03/30/2027 | 5,506,426.00 | 5,226,518.00 | 0.21 |
| BL3618693 | Univision Communications | UVN | 7.72 | 01/31/2029 | 5,125,853.00 | 5,093,816.00 | 0.21 |
| BL3764356 | AMG Nv | AMGNA | 7.97 | 11/30/2028 | 5,280,936.00 | 5,254,531.00 | 0.21 |
| BL3766351 | Fender Musical Instruments | FNDR | 8.46 | 12/01/2028 | 5,662,432.00 | 5,067,876.00 | 0.21 |
| BL3684570 | Cloudera Inc | CLDR | 8.21 | 10/08/2028 | 5,247,430.00 | 5,093,286.00 | 0.21 |
| BL4726834 | Clydesdale Acquisition | NOVHOL | 7.53 | 04/13/2029 | 5,138,792.00 | 5,132,368.00 | 0.21 |
| BL4691277 | Kronos Acquisition Holdi | KIKCN | 8.3 | 07/08/2031 | 6,587,129.00 | 4,872,124.00 | 0.20 |
| BL4760759 | Synechron Inc | SYNECH | 8.06 | 10/03/2031 | 5,012,438.00 | 4,987,375.00 | 0.20 |
| BL4759843 | Pegasus Bidco Bv | REFRLN | 7.46 | 07/12/2029 | 4,937,625.00 | 4,937,625.00 | 0.20 |
| BL4622678 | Lumen Technologies Inc | LUMN | 6.82 | 04/15/2029 | 5,026,413.00 | 4,991,228.00 | 0.20 |
| 67118VAE9 | OFSI Bsl Clo Xiii Ltd | OFSBS | 6.58 | 04/20/2037 | 5,000,000.00 | 5,008,452.00 | 0.20 |
| 04940QAE7 | Atlas Senior Loan Fund Xxi Ltd | ATCLO | 4.17 | 07/20/2035 | 5,000,000.00 | 5,021,648.00 | 0.20 |
| 06875RAE9 | Barrow Hanley Clo Ii Ltd | BARHN | 7.33 | 10/20/2035 | 5,000,000.00 | 5,019,952.00 | 0.20 |
| 07132LAN9 | Battalion Clo Xi Ltd | BATLN | 6.3 | 04/24/2034 | 5,000,000.00 | 5,015,247.00 | 0.20 |
| BL4871721 | Johnstone Supply Llc | JHNSPL | 6.84 | 06/09/2031 | 4,943,795.00 | 4,942,030.00 | 0.20 |
| BL4977171 | Acuren Delaware Holdco Inc | ROCSER | 7.11 | 07/30/2031 | 4,825,000.00 | 4,821,984.00 | 0.20 |
| BL4991073 | Charlotte Buyer Inc | KND | 8.61 | 02/11/2028 | 4,878,602.00 | 4,869,454.00 | 0.20 |
| BL4985547 | Michael Baker International Llc | MICBAK | 8.31 | 12/01/2028 | 4,866,156.00 | 4,882,374.00 | 0.20 |
| BL4981173 | Amwins Group Inc | AMWINS | 6.61 | 01/30/2032 | 4,982,394.00 | 4,978,657.00 | 0.20 |
| BL4995835 | Quikrete Holdings Inc | QUIKHO | 6.61 | 04/14/2031 | 4,987,469.00 | 4,984,795.00 | 0.20 |
| BL5164258 | SGH2 Llc | COLCAP | 8.51 | 07/16/2032 | 4,950,000.00 | 4,950,000.00 | 0.20 |
| BL5126653 | Reworld Holding Corp | CVA | 6.59 | 11/30/2028 | 4,940,770.00 | 4,949,006.00 | 0.20 |
| BL5195518 | Quidelortho Corp | QDEL | 4.0 | 08/13/2032 | 5,000,000.00 | 4,937,500.00 | 0.20 |
| SWZ9707Z0K | ICE: (cdx.na.hy.44.v1) | — | 5.0 | 06/20/2030 | 59,545,000.00 | 4,901,292.00 | 0.20 |
| XS23881984 | ST Pauls Clo | SPAUL | 2.5 | 01/17/2032 | 4,500,000.00 | 4,949,695.00 | 0.20 |
| XS27599831 | United Group Bv | ADRBID | 6.29 | 02/01/2029 | 4,000,000.00 | 4,738,859.00 | 0.19 |
| BL5142775 | Kuehg Corp | KNOLEA | 7.54 | 06/12/2030 | 4,753,426.00 | 4,756,396.00 | 0.19 |
| BL5173788 | Cppib Ovm Member Us Llc | CPPOVM | 2.5 | 08/20/2031 | 4,638,546.00 | 4,647,243.00 | 0.19 |
| BL5177623 | Azorra Soar Tlb Finance | AZORRA | 7.0 | 10/18/2029 | 4,571,455.00 | 4,574,312.00 | 0.19 |
| BL5003753 | MX Holdings Us Inc | MINVIK | 6.61 | 03/17/2032 | 4,675,000.00 | 4,680,843.00 | 0.19 |
| BL4875664 | Examworks Bidco Inc | EXAM | 7.11 | 11/01/2028 | 4,688,250.00 | 4,696,201.00 | 0.19 |
| BL4843407 | Omnia Partners Llc | NATIPA | 6.81 | 07/25/2030 | 4,653,088.00 | 4,653,088.00 | 0.19 |
| 05613UAJ0 | BX Trust 2025-dime | BX | 7.36 | 02/15/2030 | 4,750,000.00 | 4,749,999.00 | 0.19 |
| 58406CAE1 | APEX Credit Clo 2021-ii Llc | APEXC | 6.44 | 10/20/2034 | 4,725,000.00 | 4,734,450.00 | 0.19 |
| BL4728491 | Harbourvest Partners Lp | HAPART | 6.55 | 04/18/2030 | 4,585,378.00 | 4,585,378.00 | 0.19 |
| BL3852888 | Latham Pool Products Inc | LATPOO | 8.46 | 02/23/2029 | 4,692,812.00 | 4,657,615.00 | 0.19 |
| B8AE093V0 | Parfums De Marly | — | — | 09/01/2028 | 4,665,000.00 | 4,618,350.00 | 0.19 |
| BL4687465 | APRO Llc | UNIPAC | 8.11 | 07/09/2031 | 4,526,377.00 | 4,503,744.00 | 0.18 |
| BL4583441 | Trulite Glass & Aluminum Solutions Llc | TRUGLA | 10.29 | 03/01/2030 | 4,507,945.00 | 4,440,325.00 | 0.18 |
| 65535HCC1 | Nomura Holdings Inc | NOMURA | 7.0 | 01/15/2174 | 4,295,000.00 | 4,397,006.00 | 0.18 |
| 239086AQ4 | Davis Park Clo Ltd | DAVIS | 6.02 | 07/20/2038 | 4,500,000.00 | 4,507,024.00 | 0.18 |
| 73015AAA5 | PMT Credit Risk Transfer Trust 2024-1r | PMTCR | 7.85 | 05/25/2033 | 4,387,588.00 | 4,437,508.00 | 0.18 |
| BL4811875 | Cotiviti Inc | VCVHHO | 7.1 | 05/01/2031 | 4,470,863.00 | 4,459,685.00 | 0.18 |
| BL4987774 | Hireright Holdings Corp | HRT | 7.61 | 09/27/2030 | 4,678,124.00 | 4,385,740.00 | 0.18 |
| BL4995827 | Northab Llc | NTHBNC | 6.8 | 11/24/2028 | 4,708,533.00 | 4,537,848.00 | 0.18 |
| BL5094885 | Pregis Topco Llc | PREGIS | 8.36 | 02/01/2029 | 4,340,249.00 | 4,378,226.00 | 0.18 |
| XS23055482 | Avoca Capital Clo X Ltd | AVOCA | 3.38 | 04/15/2035 | 3,750,000.00 | 4,370,960.00 | 0.18 |
| BL5179389 | Alixpartners Llp | ALIXPA | 6.36 | 07/29/2032 | 4,459,377.00 | 4,441,263.00 | 0.18 |
| BL5179751 | Brown Group Holding Llc | SIGLN | 6.86 | 07/01/2031 | 4,307,008.00 | 4,301,624.00 | 0.17 |
| BL5202587 | LIFE Time Inc | LTH | 6.36 | 11/05/2031 | 4,154,125.00 | 4,150,664.00 | 0.17 |
| BL4990307 | Sinclair Television Grou | SBGI | 8.56 | 12/31/2030 | 4,618,107.00 | 4,202,477.00 | 0.17 |
| BL4843019 | First Student Bidco Inc | FRSTST | 6.8 | 07/21/2028 | 4,274,930.00 | 4,273,596.00 | 0.17 |
| 67515BAC6 | Ocean Trails Clo Xv Ltd | OCTR | 6.82 | 01/15/2037 | 4,250,000.00 | 4,268,668.00 | 0.17 |
| BL4679264 | 1011778 Bc Ulc | BCULC | 6.11 | 09/20/2030 | 4,108,500.00 | 4,092,238.00 | 0.17 |
| BL3560150 | Petco Health & Wellness | WOOF | 7.81 | 03/03/2028 | 4,285,105.00 | 4,129,769.00 | 0.17 |
| BL3624808 | Hyster-yale Group Inc | HY | 7.97 | 05/26/2028 | 4,318,713.00 | 4,145,964.00 | 0.17 |
| BL3627926 | BCPE North Star Us Holdco 2 Inc | BCPENO | 8.47 | 06/09/2028 | 4,288,189.00 | 4,289,977.00 | 0.17 |
| B8ADRJ0H5 | Clubcorp Holdings Inc | — | 9.33 | 04/30/2032 | 4,014,374.00 | 3,981,455.00 | 0.16 |
| BL4578458 | Consolidated Energy Fin Sa | CONSEN | 8.83 | 11/15/2030 | 4,101,813.00 | 3,881,340.00 | 0.16 |
| BL4462091 | Ineos Us Petrochem Llc | STYRO | 8.71 | 04/02/2029 | 4,443,063.00 | 3,909,895.00 | 0.16 |
| 91282CLP4 | United States Treasury Note/bond | T | 3.5 | 09/30/2026 | 4,050,000.00 | 4,035,287.00 | 0.16 |
| 11283YAD2 | Brookfield Residential Properties Inc / | BRPCN | 4.88 | 02/15/2030 | 4,200,000.00 | 3,856,524.00 | 0.16 |
| 482937AB5 | KKR Clo 32 Ltd | KKR | 6.42 | 04/15/2037 | 4,000,000.00 | 4,029,697.00 | 0.16 |
| BL4789873 | LC Ahab Us Bidco Llc | AMAWAT | 7.36 | 05/01/2031 | 4,031,585.00 | 4,031,585.00 | 0.16 |
| BL4922755 | Graftech Global Enterpri | EAF | — | 12/21/2029 | 3,908,888.00 | 3,977,293.00 | 0.16 |
| BL4979144 | Mavis Tire Express Services Topco Corp | EOCGRO | 7.33 | 05/04/2028 | 3,975,901.00 | 3,983,709.00 | 0.16 |
| BL5126513 | Bausch + Lomb Corp | BLCOCN | 8.61 | 01/15/2031 | 4,000,000.00 | 4,002,500.00 | 0.16 |
| BL5004397 | A-AP Buyer Inc | AUSPOW | 7.11 | 09/09/2031 | 3,830,750.00 | 3,842,721.00 | 0.16 |
| BL5011400 | WIN Waste Innovations Holdings Inc | WHETEC | 8.22 | 03/24/2028 | 3,965,063.00 | 3,977,453.00 | 0.16 |
| BL5133790 | Nexstar Media Inc | NXST | 6.86 | 06/28/2032 | 4,050,000.00 | 4,031,438.00 | 0.16 |
| BL5202140 | Starwood Property Mortga | STWD | 2.25 | 08/14/2032 | 4,025,000.00 | 4,002,359.00 | 0.16 |
| BL5189701 | First Student Bidco Inc | FRSTST | — | 08/21/2030 | 3,761,702.00 | 3,761,702.00 | 0.15 |
| BL5174141 | Closure Systems Internat | CAINGR | 7.36 | 03/22/2029 | 3,696,399.00 | 3,703,329.00 | 0.15 |
| BL4789840 | Sharp Services Llc | SHPCOL | 7.55 | 12/31/2028 | 3,700,753.00 | 3,707,691.00 | 0.15 |
| BL4845816 | MH Sub I Llc | INET | 8.61 | 12/31/2031 | 4,224,421.00 | 3,640,043.00 | 0.15 |
| 431318AZ7 | Hilcorp Energy I Lp / Hilcorp Finance Co | HILCRP | 6.25 | 04/15/2032 | 3,750,000.00 | 3,594,593.00 | 0.15 |
| 92840JAD1 | Vistajet Malta Finance Plc / Vista Manag | VSTJET | 7.88 | 05/01/2027 | 3,575,000.00 | 3,610,285.00 | 0.15 |
| BL4493633 | Flint Group Topco Ltd | FLINT | 4.68 | 12/31/2027 | 5,190,315.00 | 3,587,805.00 | 0.15 |
| BL4569150 | Imagine Learning Llc/az | WELDNE | 7.86 | 12/21/2029 | 4,025,313.00 | 3,659,439.00 | 0.15 |
| BL4664696 | Runitonetime Llc | MAVGAM | 11.81 | 06/05/2028 | 7,574,134.00 | 3,635,584.00 | 0.15 |
| BL4766871 | Tidal Waste & Recycling | TIWARE | 7.3 | 10/24/2031 | 3,690,750.00 | 3,708,281.00 | 0.15 |
| BL3560291 | Ingenovis Health Inc | INHEAL | 8.7 | 03/06/2028 | 12,181,661.00 | 3,654,498.00 | 0.15 |
| BL3473057 | Trugreen Lp | SVMSTR | 8.46 | 11/02/2027 | 3,798,474.00 | 3,679,771.00 | 0.15 |
| BL4686459 | Sound Inpatient Physicia | SOUINP | 11.06 | 06/28/2028 | 3,423,901.00 | 3,560,857.00 | 0.14 |
| BL4814887 | Dechra Finance Us | DPHLN | 7.45 | 01/27/2032 | 3,417,435.00 | 3,425,978.00 | 0.14 |
| BL5164126 | Froneri Us Inc | ICECR | 2.5 | 07/16/2032 | 3,550,000.00 | 3,538,661.00 | 0.14 |
| BL5018546 | Madison Safety & Flow | MADSAF | 7.11 | 09/26/2031 | 3,450,554.00 | 3,460,619.00 | 0.14 |
| BL5024569 | Loire Finco Luxembourg Sarl | LGCLTD | 8.31 | 01/31/2030 | 3,192,000.00 | 3,207,960.00 | 0.13 |
| BL5047875 | OPAL Us Llc | OPALBD | 7.44 | 04/28/2032 | 3,300,000.00 | 3,316,500.00 | 0.13 |
| BL4855567 | Indicor Llc | INDICO | 7.05 | 11/22/2029 | 3,232,104.00 | 3,234,795.00 | 0.13 |
| BL5180056 | Emrld Borrower Lp | EMECLI | 6.86 | 08/04/2031 | 3,126,375.00 | 3,119,046.00 | 0.13 |
| BL4573418 | Camelot Us Acquisition Llc | CCC | 7.11 | 01/31/2031 | 3,138,358.00 | 3,117,434.00 | 0.13 |
| B8AC5MQN3 | Diamond Sports Grp Llc- Cs | — | — | — | 244,231.00 | 3,309,330.00 | 0.13 |
| 69377PAW4 | PPM Clo 2 Ltd | PPMC | 6.57 | 04/16/2037 | 3,250,000.00 | 3,252,860.00 | 0.13 |
| 269809414 | Eagle Point Credit Co Inc | ECC | 7.75 | 06/30/2030 | 126,346.00 | 3,182,024.00 | 0.13 |
| 06055HAH6 | BANK Of America Corp | BAC | 6.63 | 08/01/2174 | 3,190,000.00 | 3,289,542.00 | 0.13 |
| 25470MAG4 | DISH Network Corp | DISH | 11.75 | 11/15/2027 | 2,800,000.00 | 2,961,607.00 | 0.12 |
| 691543854 | Oxford Lane Capital Corp | OXLC | 7.95 | 02/29/2032 | 119,875.00 | 2,999,272.00 | 0.12 |
| B8AC6L2G5 | Hurricane Cleanco Limited | — | 6.25 | 10/31/2029 | 2,201,534.00 | 3,064,861.00 | 0.12 |
| B8AC8DDQ7 | Venator Fin Sarl | — | 14.32 | 12/31/2025 | 3,083,521.00 | 2,929,344.00 | 0.12 |
| BL4454486 | Venator Finance Sarl | VNTR | 6.32 | 10/12/2028 | 4,396,139.00 | 2,967,394.00 | 0.12 |
| BL4664670 | Maverick Gaming Llc | MAVGAM | 16.0 | 06/03/2028 | 3,198,052.00 | 2,878,246.00 | 0.12 |
| BL4778249 | Nouryon Finance Bv | SPCHEM | 7.61 | 04/03/2028 | 3,073,414.00 | 3,073,414.00 | 0.12 |
| BL3652478 | Skillsoft Finance Ii Inc | SKIL | 9.72 | 07/14/2028 | 3,236,791.00 | 3,001,114.00 | 0.12 |
| BL3684612 | Cloudera Inc | CLDR | 10.46 | 10/08/2029 | 3,320,000.00 | 2,911,225.00 | 0.12 |
| BL5202421 | Tiger Acquisition Llc | SABIND | 2.5 | 08/13/2032 | 2,975,000.00 | 2,976,859.00 | 0.12 |
| BL4938413 | Venator Finance Sarl | VNTR | 6.3 | 07/16/2026 | 3,100,422.00 | 2,945,401.00 | 0.12 |
| BL4978468 | Clearwater Analytics Llc | CLRANA | 6.46 | 04/21/2032 | 2,725,000.00 | 2,721,593.00 | 0.11 |
| BL4810455 | Caesars Entertain Inc | CZR | 6.61 | 02/06/2031 | 2,839,063.00 | 2,829,125.00 | 0.11 |
| BL5004322 | VFH Parent Llc | VIRT | 6.86 | 06/21/2031 | 2,686,093.00 | 2,689,450.00 | 0.11 |
| BL5178423 | LBM Acquisition Llc | USLBMH | 9.36 | 06/06/2031 | 2,750,000.00 | 2,717,687.00 | 0.11 |
| BL5168176 | Boots Group Finco Lp | BOOTFN | — | 07/22/2032 | 2,800,000.00 | 2,803,500.00 | 0.11 |
| BL5189628 | Evertec Llc | EVTC | 6.61 | 10/30/2030 | 2,705,000.00 | 2,711,762.00 | 0.11 |
| BL4731347 | Kenan Advantage Group | KEADGR | 7.61 | 01/25/2029 | 2,724,794.00 | 2,672,001.00 | 0.11 |
| BL4564722 | DAVE & Buster's Inc | PLAY | 7.56 | 06/29/2029 | 2,879,598.00 | 2,775,212.00 | 0.11 |
| 91282CME8 | United States Treasury Note/bond | T | 4.25 | 12/31/2026 | 2,600,000.00 | 2,615,640.00 | 0.11 |
| 86562MDK3 | Sumitomo Mitsui Financial Group Inc | SUMIBK | 6.6 | 06/05/2174 | 2,725,000.00 | 2,823,781.00 | 0.11 |
| 315293308 | Ferrellgas Partners Lp | FGPRB | — | — | 20,453.00 | 2,618,208.00 | 0.11 |
| 28622EAW8 | Elevation Clo 2021-13 Ltd | AWPT | 5.92 | 07/15/2034 | 2,500,000.00 | 2,494,149.00 | 0.10 |
| 83617A207 | Sound Point Meridian Capital Inc | SPMC | 8.0 | 11/30/2029 | 97,015.00 | 2,439,927.00 | 0.10 |
| BL4671105 | LBM Acquisition Llc | USLBMH | 8.21 | 06/06/2031 | 2,493,703.00 | 2,421,619.00 | 0.10 |
| BL3768035 | Altar Bidco Inc | BRKS | 7.25 | 02/01/2029 | 2,393,830.00 | 2,388,592.00 | 0.10 |
| BL3726934 | Vector Wp Holdco Inc | VECWPH | 9.47 | 10/12/2028 | 2,524,496.00 | 2,483,473.00 | 0.10 |
| BL5188117 | MIP V Waste Llc | GREWAS | 2.75 | 08/16/2032 | 2,448,286.00 | 2,454,406.00 | 0.10 |
| BL4998318 | HP Phrg Borrower Llc | PHRGUS | 8.33 | 02/20/2032 | 2,500,000.00 | 2,495,312.00 | 0.10 |
| BL5055217 | Herschend Entertainment | HERFAM | 7.6 | 05/27/2032 | 2,350,000.00 | 2,363,954.00 | 0.10 |
| BL4789972 | MRC Global Us Inc | MRC | 7.8 | 10/29/2031 | 2,350,110.00 | 2,355,985.00 | 0.10 |
| BL4940195 | J&J Ventures Gaming Llc | JJVEGA | 7.86 | 04/26/2030 | 2,500,000.00 | 2,465,625.00 | 0.10 |
| BL4985372 | Arcis Golf Llc | ACSGLF | 7.11 | 11/24/2028 | 2,444,275.00 | 2,453,440.00 | 0.10 |
| BL5105350 | Flutter Financing Bv | FLTR | 6.3 | 06/04/2032 | 2,125,000.00 | 2,118,359.00 | 0.09 |
| BL5116852 | Apollo Commercial Real Estate Finance In | ARI | 7.62 | 06/13/2030 | 2,275,000.00 | 2,292,062.00 | 0.09 |
| BL5181799 | Sanmina Corp | SANM | — | 08/07/2032 | 2,300,000.00 | 2,294,250.00 | 0.09 |
| XS22745298 | CIFC European Funding Clo Iii Dac | CIFCE | 3.53 | 01/15/2034 | 2,000,000.00 | 2,320,631.00 | 0.09 |
| BL4207215 | Ineos Us Petrochem Llc | STYRO | 8.21 | 03/14/2030 | 2,548,000.00 | 2,204,020.00 | 0.09 |
| BL3571389 | WIN Waste Innovations Holdings Inc | WHETEC | 7.22 | 03/24/2028 | 2,121,808.00 | 2,119,685.00 | 0.09 |
| BL3571561 | PODS Llc | PODLLC | 7.47 | 03/31/2028 | 2,350,000.00 | 2,267,329.00 | 0.09 |
| BL4679157 | White Cap Supply Holding | WHTCAP | 7.6 | 10/19/2029 | 2,140,107.00 | 2,139,621.00 | 0.09 |
| BL4752996 | Paint Intermediate Iii | PAIIII | 7.24 | 10/09/2031 | 2,244,375.00 | 2,245,310.00 | 0.09 |
| BL4783140 | PG Polaris Bidco Sarl | ROSGRP | 7.05 | 03/26/2031 | 2,179,050.00 | 2,184,497.00 | 0.09 |
| 67120UAG2 | NYC Commercial Mortgage Trust 2025-3bp | NYC | 6.8 | 02/15/2042 | 2,350,000.00 | 2,338,984.00 | 0.09 |
| 431318AY0 | Hilcorp Energy I Lp / Hilcorp Finance Co | HILCRP | 6.0 | 04/15/2030 | 2,125,000.00 | 2,104,496.00 | 0.09 |
| 165167735 | Expand Energy Corp | EXE | — | — | 22,789.00 | 2,205,519.00 | 0.09 |
| B8ACRGD14 | Convergeone Holdings Inc | — | 10.07 | 06/04/2030 | 3,482,786.00 | 2,089,671.00 | 0.08 |
| BL4687226 | Brown Group Holding Llc | SIGLN | 7.08 | 07/01/2031 | 1,895,226.00 | 1,895,565.00 | 0.08 |
| BL4071538 | First Brands Group Llc | TRICGR | 9.57 | 03/30/2027 | 2,203,271.00 | 2,092,188.00 | 0.08 |
| BL3835958 | Reladyne Inc | RELDYN | 7.86 | 12/23/2030 | 1,913,211.00 | 1,917,196.00 | 0.08 |
| BL5173416 | Finastra Usa Inc | MSYLN | — | 07/30/2032 | 2,025,000.00 | 2,010,825.00 | 0.08 |
| BL5189412 | ECL Entertainment Llc | ECLENT | 7.36 | 08/30/2030 | 1,919,827.00 | 1,919,827.00 | 0.08 |
| BL5117652 | Acrisure Llc | ACRISU | 7.61 | 06/05/2032 | 1,990,013.00 | 1,989,182.00 | 0.08 |
| BL4989184 | Quikrete Holdings Inc | QUIKHO | 6.61 | 02/10/2032 | 2,068,188.00 | 2,067,037.00 | 0.08 |
| BL4915957 | SWF Holdings I Corp | SPRIND | — | 12/18/2029 | 2,085,714.00 | 2,077,892.00 | 0.08 |
| BL4799294 | Xplore Inc/nb | BARXPL | 6.09 | 10/24/2031 | 2,746,291.00 | 1,888,074.00 | 0.08 |
| BL4811826 | WEC Us Holdings Inc | WECHOL | 6.6 | 01/27/2031 | 2,034,711.00 | 2,034,585.00 | 0.08 |
| BL4861722 | Lsf11 Trinity Bidco Inc | LSFTRI | 7.35 | 06/14/2030 | 1,734,208.00 | 1,732,040.00 | 0.07 |
| BL4874238 | Reworld Holding Corp | CVA | 6.61 | 11/30/2028 | 1,819,053.00 | 1,821,327.00 | 0.07 |
| BL5001377 | Pasadena Performance Pro | PASPER | 7.8 | 02/27/2032 | 1,720,688.00 | 1,722,838.00 | 0.07 |
| BL5023736 | PEER Holding Iii Bv | ACTINA | 6.8 | 10/26/2030 | 1,641,688.00 | 1,642,713.00 | 0.07 |
| BL5171782 | Olympus Wtr Us Hldg Corp | SOLEIN | — | 07/23/2032 | 1,850,000.00 | 1,843,393.00 | 0.07 |
| BL5126612 | Beacon Mobility Corp | BEAMOB | 7.5 | 08/06/2030 | 1,781,024.00 | 1,787,702.00 | 0.07 |
| SWB8AE0KY6 | Trswap: Ibxxlltr Index 09/22/2025 Mslsw_ | — | — | 09/22/2025 | 440,879.00 | 1,786,836.00 | 0.07 |
| SWB8AE0L12 | Trswap: Ibxxlltr Index 09/22/2025 Bnpsw_ | — | — | 09/22/2025 | 433,452.00 | 1,756,737.00 | 0.07 |
| BL3676949 | Rough Country Llc | ROUCON | 7.97 | 07/28/2028 | 1,755,177.00 | 1,727,386.00 | 0.07 |
| BL3299924 | ZAYO Group Holdings Inc | ZAYO | 7.47 | 03/09/2027 | 1,840,000.00 | 1,776,520.00 | 0.07 |
| B8ADQ6J27 | Doncasters Us Fin Llc | — | — | 04/01/2030 | 1,800,000.00 | 1,818,000.00 | 0.07 |
| BL4433753 | Bombardier Recreational | BOMREC | 7.11 | 12/13/2029 | 1,656,079.00 | 1,659,875.00 | 0.07 |
| BL4605418 | Transdigm Inc | TDG | 7.05 | 03/22/2030 | 1,826,875.00 | 1,831,442.00 | 0.07 |
| BL4666196 | Univision Communications Inc | UVN | 7.97 | 01/31/2029 | 1,775,797.00 | 1,770,247.00 | 0.07 |
| 92535C500 | Carlyle Credit Income Fund | CCIF | 8.75 | 10/31/2028 | 70,528.00 | 1,800,932.00 | 0.07 |
| 98887HAL8 | ZAIS Clo 3 Ltd | ZCLO3 | 6.77 | 07/15/2031 | 1,500,000.00 | 1,504,434.00 | 0.06 |
| 83611VBC1 | Sound Point Clo Xxvii Ltd | SNDPT | 7.93 | 10/25/2034 | 1,500,000.00 | 1,509,365.00 | 0.06 |
| 00737WAA7 | Adtalem Global Education Inc | ATGE | 5.5 | 03/01/2028 | 1,521,000.00 | 1,514,834.00 | 0.06 |
| 67103B803 | OFS Capital Corp | OFS | 7.5 | 07/31/2028 | 56,000.00 | 1,414,840.00 | 0.06 |
| BL4766657 | Windstream Services Llc | WIN | 9.21 | 09/26/2031 | 1,550,000.00 | 1,553,875.00 | 0.06 |
| BL5173382 | Starwood Property Mortga | STWD | 6.11 | 11/18/2027 | 1,570,433.00 | 1,568,470.00 | 0.06 |
| BL4938314 | MAIN Street Sports Group | DSPORT | 15.0 | 01/02/2028 | 1,680,789.00 | 1,462,286.00 | 0.06 |
| BL4915932 | SWF Holdings I Corp | SPRIND | 8.86 | 12/18/2029 | 1,564,286.00 | 1,558,419.00 | 0.06 |
| BL4843027 | First Student Bidco Inc | FRSTST | 6.8 | 07/21/2028 | 1,310,318.00 | 1,309,908.00 | 0.05 |
| BL4485100 | DS Parent Inc | DAVSTA | 9.8 | 01/31/2031 | 1,311,750.00 | 1,210,089.00 | 0.05 |
| B8ADX0WW1 | Doncasters Us Finance Llc | — | 10.8 | 04/23/2030 | 1,197,000.00 | 1,208,970.00 | 0.05 |
| B8ADTUF25 | GTT Communications Inc | — | 14.0 | 07/15/2031 | 1,431,626.00 | 1,173,933.00 | 0.05 |
| 364760AQ1 | GAP Inc/the | GAP | 3.88 | 10/01/2031 | 1,320,000.00 | 1,191,428.00 | 0.05 |
| 10756PAH2 | Brewco Borrower Llc | — | — | 09/30/2030 | 1,224,926.00 | 1,224,925.00 | 0.05 |
| 81721MAM1 | Diversified Healthcare Trust | DHC | 4.75 | 02/15/2028 | 1,275,000.00 | 1,204,562.00 | 0.05 |
| 82650BAD8 | Sierra Timeshare 2023-2 Receivables Fund | SRFC | 9.72 | 04/20/2040 | 1,096,993.00 | 1,153,598.00 | 0.05 |
| 95002YAC7 | Wells Fargo & Co | WFC | 6.85 | 09/15/2173 | 1,060,000.00 | 1,111,699.00 | 0.05 |
| B8AC24CC5 | Heritage Power Llc | — | 9.8 | 07/20/2028 | 1,356,884.00 | 1,336,530.00 | 0.05 |
| 78500AAA6 | SWF Holdings I Corp | SPRIND | 6.5 | 10/01/2029 | 2,550,000.00 | 1,021,446.00 | 0.04 |
| 126307BK2 | CSC Holdings Llc | CSCHLD | 5.0 | 11/15/2031 | 2,157,000.00 | 943,804.00 | 0.04 |
| 25470XAY1 | DISH Dbs Corp | DISH | 7.75 | 07/01/2026 | 1,000,000.00 | 972,256.00 | 0.04 |
| 67111Q503 | OFS Credit Co Inc | OCCI | 7.88 | 10/31/2029 | 36,949.00 | 929,378.00 | 0.04 |
| 445587AE8 | HUNT Cos Inc | HUNTCO | 5.25 | 04/15/2029 | 1,025,000.00 | 1,002,175.00 | 0.04 |
| B8AE9PFD2 | Maverick Gaming Llc | — | — | 06/23/2026 | 1,018,604.00 | 917,411.00 | 0.04 |
| BL4124436 | Asurion Llc | ASUCOR | 8.71 | 08/19/2028 | 1,075,250.00 | 1,073,368.00 | 0.04 |
| BL4600518 | Connect Finco Sarl | IMASF | 8.86 | 09/27/2029 | 962,634.00 | 949,999.00 | 0.04 |
| BL4758670 | Tronox Finance Llc | TROX | 6.82 | 09/30/2031 | 1,157,625.00 | 1,016,539.00 | 0.04 |
| BL4843183 | Renaissance Holdings Cor | RLRN | 8.36 | 04/05/2030 | 1,269,478.00 | 1,103,123.00 | 0.04 |
| BL5169687 | Alterra Mountain Company | ALTMOU | 6.85 | 05/31/2030 | 1,066,951.00 | 1,065,617.00 | 0.04 |
| BLFHRK1 | Venator Materials Plc | VNTRF | — | — | 10,549.00 | 1,054,900.00 | 0.04 |
| BL5189594 | First Student Bidco Inc | FRSTST | — | 08/21/2030 | 688,298.00 | 688,297.00 | 0.03 |
| BL4799260 | Xplore Inc/nb | BARXPL | 9.59 | 10/24/2029 | 802,265.00 | 754,128.00 | 0.03 |
| BL4781144 | Jupiter Buyer Inc | ARCHKE | — | 11/01/2031 | 670,118.00 | 676,819.00 | 0.03 |
| BL4728509 | Howden Group Holdings Lt | HYPINS | 7.86 | 04/18/2030 | 648,342.00 | 649,760.00 | 0.03 |
| B8ADGKST8 | NEW Generation Gas Gathering Llc | — | 4.36 | 09/30/2029 | 681,081.00 | 670,864.00 | 0.03 |
| B8ADVZ6S4 | Denali Intermediate Hldg Inc | — | — | 05/31/2032 | 678,676.00 | 671,889.00 | 0.03 |
| 44267DAF4 | Howard Hughes Corp/the | HHH | 4.38 | 02/01/2031 | 770,000.00 | 717,687.00 | 0.03 |
| 269809877 | Eagle Point Credit Co Inc | ECC | 8.0 | 01/31/2029 | 30,058.00 | 762,568.00 | 0.03 |
| 38141GC28 | Goldman Sachs Group Inc/the | GS | 6.85 | 08/10/2174 | 635,000.00 | 653,222.00 | 0.03 |
| 045086AP0 | Ashton Woods Usa Llc / Ashton Woods Fina | ASHWOO | 4.63 | 04/01/2030 | 835,000.00 | 789,191.00 | 0.03 |
| 527298CH4 | Level 3 Financing Inc | LVLT | 4.0 | 04/15/2031 | 1,000,000.00 | 841,088.00 | 0.03 |
| B8A9598C3 | Ferrellgas Escrow Llc 3/30/31 Preferred | — | 8.96 | 03/30/2031 | 488,000.00 | 488,000.00 | 0.02 |
| B8ACXD562 | NEW Generation Gas Gathering Llc | — | 4.34 | 09/30/2029 | 567,568.00 | 559,054.00 | 0.02 |
| B8AC2XW47 | Heritage Pwr Llc | — | — | — | 8,021.00 | 522,704.00 | 0.02 |
| B8ACGKCY6 | Convergeone Hldgs Inc - Equity | — | — | — | 200,211.00 | 600,633.00 | 0.02 |
| 91282CMH1 | United States Treasury Note/bond | T | 4.13 | 01/31/2027 | 425,000.00 | 427,125.00 | 0.02 |
| 91282CLY5 | United States Treasury Note/bond | T | 4.25 | 11/30/2026 | 600,000.00 | 603,210.00 | 0.02 |
| 019576AC1 | Allied Universal Holdco Llc / Allied Uni | UNSEAM | 6.0 | 06/01/2029 | 400,000.00 | 395,585.00 | 0.02 |
| 126307AS6 | CSC Holdings Llc | CSCHLD | 5.38 | 02/01/2028 | 475,000.00 | 437,712.00 | 0.02 |
| 25470XBD6 | DISH Dbs Corp | DISH | 5.13 | 06/01/2029 | 450,000.00 | 371,043.00 | 0.02 |
| B8ACPYTT9 | Sound Inpatient Physicians Inc- Class A2 | — | — | — | 454,115.00 | 449,573.00 | 0.02 |
| B8ADVAEX9 | NEW Generation Gas Gathering Llc | — | 4.36 | 09/30/2029 | 567,567.00 | 559,053.00 | 0.02 |
| B8AD64SP3 | Xplore Inc | — | — | — | 172,298.00 | 423,161.00 | 0.02 |
| B8AE3VHV3 | Clubcorp Hldgs Inc | — | — | 07/31/2032 | 436,345.00 | 432,766.00 | 0.02 |
| B8AE6EKC6 | Maverick Gaming Llc | — | — | 04/17/2026 | 522,043.00 | 466,693.00 | 0.02 |
| BL5162609 | BCP Vi Summit Holdings L | BCSUHO | 7.36 | 01/30/2032 | 600,000.00 | 603,000.00 | 0.02 |
| BL5040029 | Clydesdale Acquisition | NOVHOL | 7.61 | 04/01/2032 | 126,289.00 | 126,118.00 | 0.01 |
| BL5101995 | Azuria Water Solutions Inc | AEGN | — | 05/17/2028 | 305,195.00 | 305,385.00 | 0.01 |
| BL5126596 | Reworld Holding Corp | CVA | 6.59 | 11/30/2028 | 272,024.00 | 272,477.00 | 0.01 |
| BL5126604 | Beacon Mobility Corp | BEAMOB | 7.47 | 08/06/2030 | 243,976.00 | 244,890.00 | 0.01 |
| BL4990315 | Sinclair Television Grou | SBGI | 7.87 | 12/31/2029 | 279,300.00 | 254,163.00 | 0.01 |
| SWB8AE6CWV | Trswap: Ibxxlltr Index 09/22/2025 Mslsw_ | — | — | 09/22/2025 | 222,074.00 | 238,263.00 | 0.01 |
| L8176HAF7 | Intelsat Emergence Sa | — | — | — | 28,359.00 | 360,400.00 | 0.01 |
| O0EF5E2MKB | Eur/usd Fwd 20250902 57918 | EUR | — | 09/02/2025 | -34,216,133.00 | 152,767.00 | 0.01 |
| B8AEBG4U3 | NEW Generation Gas Gathering Llc | — | 4.17 | 09/30/2029 | 170,270.00 | 167,715.00 | 0.01 |
| B8ADD6450 | Aventiv Technologies Llc | — | 14.59 | 12/31/2025 | 351,699.00 | 369,283.00 | 0.01 |
| B8AE3VDG0 | Clubcorp Hldgs Inc | — | — | 07/31/2032 | 261,807.00 | 259,660.00 | 0.01 |
| BL3753912 | SK Neptune Husky Finance | LUINCO | 11.95 | 01/03/2029 | 6,859,378.00 | 222,929.00 | 0.01 |
| BL3908854 | ZAYO Group Holdings Inc | ZAYO | 8.53 | 03/09/2027 | 225,000.00 | 218,906.00 | 0.01 |
| BL4629871 | Aventiv Technologies Llc | SECRUS | 12.06 | 03/25/2026 | 269,010.00 | 264,974.00 | 0.01 |
| BL4493666 | Flint Group Topco Ltd | FLINT | 4.68 | 12/31/2027 | 7,035,617.00 | 321,000.00 | 0.01 |
| 39809GAA3 | Greywolf Clo Vi Ltd | GWOLF | 5.61 | 04/26/2031 | 178,135.00 | 178,184.00 | 0.01 |
| 25470XBB0 | DISH Dbs Corp | DISH | 7.38 | 07/01/2028 | 350,000.00 | 316,781.00 | 0.01 |
| 527298CB7 | Level 3 Financing Inc | LVLT | 4.88 | 06/15/2029 | 150,000.00 | 140,376.00 | 0.01 |
| 126307BB2 | CSC Holdings Llc | CSCHLD | 4.13 | 12/01/2030 | 200,000.00 | 131,615.00 | 0.01 |
| 126307BD8 | CSC Holdings Llc | CSCHLD | 4.63 | 12/01/2030 | 700,000.00 | 307,216.00 | 0.01 |
| 126307BF3 | CSC Holdings Llc | CSCHLD | 3.38 | 02/15/2031 | 200,000.00 | 127,971.00 | 0.01 |
| 12687GAA7 | Cablevision Lightpath Llc | CVLGHT | 3.88 | 09/15/2027 | 200,000.00 | 197,177.00 | 0.01 |
| 12687GAB5 | Cablevision Lightpath Llc | CVLGHT | 5.63 | 09/15/2028 | 200,000.00 | 198,461.00 | 0.01 |
| 126307AQ0 | CSC Holdings Llc | CSCHLD | 5.5 | 04/15/2027 | 200,000.00 | 192,490.00 | 0.01 |
| 92840JAB5 | Vistajet Malta Finance Plc / Vista Manag | VSTJET | 6.38 | 02/01/2030 | 375,000.00 | 359,981.00 | 0.01 |
| B8ACA1AA8 | Digicel Intl Fin Ltd | — | — | — | 17,997.00 | 215,681.00 | 0.01 |
| 829259AW0 | Sinclair Television Group Inc | SBGI | 5.13 | 02/15/2027 | 200,000.00 | 192,440.00 | 0.01 |
| 829259BH2 | Sinclair Television Group Inc | SBGI | 8.13 | 02/15/2033 | 200,000.00 | 204,955.00 | 0.01 |
| 897051AC2 | Tronox Inc | TROX | 4.63 | 03/15/2029 | 75,000.00 | 55,316.00 | 0.00 |
| 69344A883 | PGIM Floating Rate Income Etf | PFRL | — | — | 500 | 25,207.00 | 0.00 |
| 75026JAH3 | Radiate Holdco Llc / Radiate Finance Inc | RADIAT | 9.25 | 03/25/2030 | 166,000.00 | 103,659.00 | 0.00 |
| B8ABZ0LS4 | Campfire Topco Ltd | — | — | — | 4,988,976.00 | 583.00 | 0.00 |
| B8ACMP799 | Sound Inpatient Physicians Inc- Class A | — | — | — | 10,144,042.00 | 1,014.00 | 0.00 |
| B8AC2XW54 | Heritage Pwr Llc | — | — | — | 209,883.00 | 104,941.00 | 0.00 |
| B8AD38TW1 | NEW Generation Gas - Unfunded | — | — | 09/30/2029 | 113,513.00 | 111,810.00 | 0.00 |
| B8ACTA7D6 | Procera Ii Lp And New Procera Gp C | — | — | — | 156,835.00 | 15.00 | 0.00 |
| B0G1ND27S7 | Gbp/usd Fwd 20250902 2568 | GBP | — | 09/02/2025 | -7,909,680.00 | -55,226.00 | 0.00 |
| 021ESCAG3 | ALTA Mesa Holdings Lp / Alta Mesa Financ | ALTMES | — | 12/15/2025 | 6,725,000.00 | 6.00 | 0.00 |
| 126307BA4 | CSC Holdings Llc | CSCHLD | 5.75 | 01/15/2030 | 200,000.00 | 93,838.00 | 0.00 |
| 25381HAD0 | Digicel Group Holdings Ltd | DLLTD | — | 12/31/2030 | 149,444.00 | 14.00 | 0.00 |
| 25381HAM0 | Digicel Group Holdings Ltd | DLLTD | — | 12/31/2030 | 196,977.00 | 0.00 | 0.00 |
| B8AE1JR66 | Mitel Networks Intl Lt | — | — | — | 125,642.00 | 1,256.00 | 0.00 |
| B8AD73HC5 | Xplornet - Contingent Value Rights | — | — | — | 11,734.00 | 1.00 | 0.00 |
| B8AD9KJQ2 | Diamond Sports Grp Llc- Warrants | — | — | — | 456,793.00 | 93,277.00 | 0.00 |
| B8AEBTKP8 | Topco Units Equity | — | — | — | 27,892.00 | 2.00 | 0.00 |
| BBONP837DU | Eur/usd Fwd 20251002 57918 | EUR | — | 10/02/2025 | -34,216,133.00 | 23,243.00 | 0.00 |
| OEU5 COMDT | Euro-bobl Future Sep25 | OEU5 | — | 09/08/2025 | -1,786,414.00 | 8,345.00 | 0.00 |
| RXU5 COMDT | Euro-bund Future Sep25 | RXU5 | — | 09/08/2025 | -1,060,924.00 | 10,428.00 | 0.00 |
| CD9T54TQNK | Gbp/usd Fwd 20250902 2568 | GBP | — | 09/02/2025 | 7,909,680.00 | 11,260.00 | 0.00 |
| L5217E120 | Intelsat Emergence Sa | — | — | — | 28,359.00 | 2.00 | 0.00 |
| TUZ5 COMDT | US 2yr Note (cbt) Dec25 | TUZ5 | — | 12/31/2025 | -63,395,875.00 | -90,492.00 | 0.00 |
| TYZ5 COMDT | US 10yr Note (cbt)dec25 | TYZ5 | — | 12/19/2025 | -22,950,000.00 | -90,534.00 | 0.00 |
| UD5R4FKKQH | Gbp/usd Fwd 20251002 2568 | GBP | — | 10/02/2025 | -7,909,680.00 | -11,148.00 | 0.00 |
| USZ5 COMDT | US Long Bond(cbt) Dec25 | USZ5 | — | 12/19/2025 | -7,426,250.00 | -22,047.00 | 0.00 |
| VQLLABTIPI | Eur/usd Fwd 20250902 57918 | EUR | — | 09/02/2025 | 34,216,133.00 | -20,179.00 | 0.00 |
| WNZ5 COMDT | US Ultra Bond Cbt Dec25 | WNZ5 | — | 12/19/2025 | 1,631,875.00 | -6,646.00 | 0.00 |
| BL4874246 | Reworld Holding Corp | CVA | 6.61 | 11/30/2028 | 105,076.00 | 105,207.00 | 0.00 |
| FVZ5 COMDT | US 5yr Note (cbt) Dec25 | FVZ5 | — | 12/31/2025 | -153,256,250.00 | -547,159.00 | -0.02 |
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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.
Brian Juliano, Parag Pandya, Robert Cignarella, Robert Meyer and Michael Haigh of PGIM Fixed Income are primarily responsible for management of the PGIM Floating Rate Income Fund.
Brian Juliano
Managing Director and Head of the U.S. Leveraged Loan Team
Brian Juliano is a Managing Director and Head of the U.S. Leveraged Loan Team for PGIM Fixed Income.
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.
Parag Pandya, CFA
Principal and Portfolio Manager for PGIM Fixed Income's U.S. Leveraged Loan Team
Parag Pandya, CFA, is a Principal and portfolio manager for PGIM Fixed Income's U.S. Leveraged Loan Team.
Robert Meyer, CFA
Principal for PGIM Fixed Income's U.S. Leveraged Loan Team
PGIM Fixed Income
Robert Meyer, CFA, is a Principal for the PGIM Fixed Income's U.S. Leveraged Loan Team.
Michael Haigh, CFA
Principal and Portfolio Manager for PGIM Fixed Income's U.S. Leveraged Loan Team
PGIM Fixed Income
Michael Haigh, CFA, is a Principal and Portfolio Manager for PGIM Fixed Income's U.S. Leveraged Loan 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.
© 2025 Morningstar, Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance does not guarantee future results.
The S&P UBS Leveraged Loan Index is unmanaged and represents the investable universe of the dollar-denominated leveraged loan market. An investment cannot be made directly in an index.
The S&P UBS Leveraged Loan Index is a product of S&P Dow Jones Indices LLC and/or its affiliates and has been licensed for use by PGIM Investments. Copyright © 2025 S&P Dow Jones Indices LLC, a division of S&P Global, Inc., and/or its affiliates. All rights reserved. Redistribution or reproduction in whole or in part are prohibited without written permission of S&P Dow Jones Indices LLC. For more information on any of S&P Dow Jones Indices LLC’s indices please visit www.spdji.com. S&P® is a registered trademark of S&P Global and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC.
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.
4448683 Ed. 10/2024
Fund Literature
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