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) | 3.30 |
| Duration (years) | 2.20 |
| Standard Deviation (3 year) | 4.53 |
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 | 8.53 | -0.01 | -0.12 | 8.73 | 419,866,664.90 |
| C | 8.53 | -0.01 | -0.12 | — | 138,236,458.71 |
| R6 | 8.54 | -0.01 | -0.12 | — | 542,466,180.06 |
| Z | 8.53 | -0.01 | -0.12 | — | 4,019,350,775.64 |
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 | 09/27/2024 | 8.17 | 04/08/2025 |
| C | 8.54 | 08/28/2025 | 8.17 | 04/08/2025 |
| R6 | 8.55 | 08/28/2025 | 8.18 | 04/08/2025 |
| Z | 8.55 | 09/27/2024 | 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 | 5.31 | 5.25 | 5.96 | 6.10 | — |
| C - View Prospectus | 4.68 | 4.63 | — | 5.35 | — |
| R6 - View Prospectus | 5.75 | 5.73 | — | 6.40 | — |
| Z - View Prospectus | 5.69 | 5.62 | — | 6.35 | — |
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 Issuers (% of Assets)
|
Top 10 Corporate Holdings
|
Fund (% of Assets)
|
|---|---|
| Vistra | 1.8% |
| Frontier Communications | 1.7% |
| Next Alt Sarl | 1.5% |
| Charter Communications | 1.3% |
| Medline Borrower | 1.3% |
| Carvana | 1.2% |
| Venture Global | 1.2% |
| Onemain | 1.1% |
| Acrisure | 1.1% |
| MGM Resorts International | 1.1% |
Credit Quality (% of Assets)
|
Credit Quality
|
% of Assets
|
|---|---|
| AAA | 5.8% |
| BBB | 6.1% |
| BB | 52.0% |
| B | 26.7% |
| CCC | 6.3% |
| Not Rated | 3.2% |
| Cash/Equiv | -0.2% |
Largest Industries (% of Assets)
|
Largest Industries
|
% of Assets
|
|---|---|
| Gaming & Lodging & Leisure | 9.1% |
| Telecom | 7.5% |
| Building Materials & Home Construction | 6.8% |
| Finance Companies | 6.2% |
| Health Care & Pharmaceutical | 5.6% |
| Cable & Satellite | 5.4% |
| Technology | 5.0% |
| Retailers & Restaurants | 4.9% |
| Automotive | 4.1% |
| Electric & Water | 4.0% |
Geographic Concentration (% of Assets)
|
Geographic Concentration
|
% of Assets
|
|---|---|
| United States | 86.2% |
| Canada | 5.0% |
| United Kingdom | 2.0% |
| Jamaica | 1.4% |
| France | 1.3% |
| Ireland | 0.7% |
| Japan | 0.6% |
| Switzerland | 0.5% |
| Other | 2.2% |
| Cash/Equiv | -0.2% |
FUND STATISTICS
|
Average Maturity
|
Years
|
|---|---|
| Average Maturity (years) | 3.3 |
| Duration (years) | 2.2 |
| Standard Deviation (3 year) | 4.53 |
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
|
|---|---|---|---|---|---|---|---|
| 91282CMZ1 | United States Treasury Note/bond | T | 3.88 | 04/30/2030 | 102,425,000.00 | 102,120,925.00 | 2.05 |
| 74440W862 | (pipa070) Pgim Core Government Money Mar | — | 4.41 | 12/01/2099 | 89,398,157.00 | 89,398,156.00 | 1.79 |
| 91282CNG2 | United States Treasury Note/bond | T | 4.0 | 05/31/2030 | 53,500,000.00 | 53,629,570.00 | 1.08 |
| 92840VAF9 | Vistra Operations Co Llc | VST | 5.0 | 07/31/2027 | 52,846,000.00 | 52,582,492.00 | 1.06 |
| 62482BAA0 | Medline Borrower Lp | MEDIND | 3.88 | 04/01/2029 | 51,005,000.00 | 48,640,505.00 | 0.98 |
| 69344A834 | PGIM Aaa Clo Etf | PAAA | — | — | 925,000.00 | 47,609,750.00 | 0.96 |
| BL5159126 | Radiate Holdco Llc | RADIAT | 4.25 | 09/25/2029 | 53,482,153.00 | 46,239,759.00 | 0.93 |
| 449691AC8 | Iliad Holding Sasu | ILDFP | 7.0 | 10/15/2028 | 42,444,000.00 | 42,932,954.00 | 0.86 |
| 91282CLX7 | United States Treasury Note/bond | T | 4.13 | 11/15/2027 | 41,700,000.00 | 41,882,437.00 | 0.84 |
| 35906ABE7 | Frontier Communications Holdings Llc | FYBR | 5.88 | 10/15/2027 | 41,016,000.00 | 41,026,183.00 | 0.82 |
| 853496AC1 | Standard Industries Inc/ny | BMCAUS | 5.0 | 02/15/2027 | 38,960,000.00 | 38,959,748.00 | 0.78 |
| 44267DAD9 | Howard Hughes Corp/the | HHH | 5.38 | 08/01/2028 | 38,463,000.00 | 38,235,654.00 | 0.77 |
| 00175PAB9 | AMN Healthcare Inc | AMN | 4.63 | 10/01/2027 | 38,519,000.00 | 37,650,922.00 | 0.76 |
| BL4070472 | CSC Holdings Llc | CSCHLD | 8.81 | 01/18/2028 | 36,256,853.00 | 36,154,898.00 | 0.73 |
| 23918KAS7 | Davita Inc | DVA | 4.63 | 06/01/2030 | 36,595,000.00 | 34,923,765.00 | 0.70 |
| 91327TAA9 | Uniti Group Lp / Uniti Group Finance 201 | UNIT | 10.5 | 02/15/2028 | 32,776,000.00 | 34,627,649.00 | 0.69 |
| 1248EPBT9 | CCO Holdings Llc / Cco Holdings Capital | CHTR | 5.13 | 05/01/2027 | 34,254,000.00 | 33,972,305.00 | 0.68 |
| 57701RAJ1 | Mattamy Group Corp | MATHOM | 5.25 | 12/15/2027 | 33,644,000.00 | 33,411,183.00 | 0.67 |
| BL4883627 | Mcafee Corp | MCFE | 7.33 | 03/01/2029 | 34,927,804.00 | 33,487,031.00 | 0.67 |
| 78410GAD6 | SBA Communications Corp | SBAC | 3.88 | 02/15/2027 | 33,534,000.00 | 32,936,682.00 | 0.66 |
| 146869AL6 | Carvana Co | CVNA | 9.0 | 12/01/2028 | 32,073,666.00 | 32,854,668.00 | 0.66 |
| 12769GAA8 | Caesars Entertainment Inc | CZR | 4.63 | 10/15/2029 | 34,115,000.00 | 32,253,396.00 | 0.65 |
| 880349AU9 | Tenneco Inc | TENINC | 8.0 | 11/17/2028 | 32,372,000.00 | 32,136,348.00 | 0.64 |
| 670001AG1 | Novelis Corp | HNDLIN | 3.25 | 11/15/2026 | 31,342,000.00 | 30,835,534.00 | 0.62 |
| BL4756492 | Asurion Llc | ASUCOR | 8.58 | 09/19/2030 | 31,000,366.00 | 30,465,609.00 | 0.61 |
| 25470XAY1 | DISH Dbs Corp | DISH | 7.75 | 07/01/2026 | 33,600,000.00 | 29,862,937.00 | 0.60 |
| 1248EPBR3 | CCO Holdings Llc / Cco Holdings Capital | CHTR | 5.5 | 05/01/2026 | 28,951,000.00 | 28,903,173.00 | 0.58 |
| 18453HAA4 | Clear Channel Outdoor Holdings Inc | CCO | 5.13 | 08/15/2027 | 28,415,000.00 | 28,376,055.00 | 0.57 |
| BL4789857 | Trident Tpi Holdings Inc | TEKNI | 8.05 | 09/15/2028 | 27,999,384.00 | 27,383,397.00 | 0.55 |
| 11283YAB6 | Brookfield Residential Properties Inc / | BRPCN | 6.25 | 09/15/2027 | 27,089,000.00 | 27,021,277.00 | 0.54 |
| 097751BX8 | Bombardier Inc | BBDBCN | 6.0 | 02/15/2028 | 26,567,000.00 | 26,666,626.00 | 0.54 |
| 42704LAA2 | HERC Holdings Inc | HRI | 5.5 | 07/15/2027 | 26,641,000.00 | 26,532,639.00 | 0.53 |
| 443628AJ1 | Hudbay Minerals Inc | HBMCN | 4.5 | 04/01/2026 | 26,608,000.00 | 26,344,846.00 | 0.53 |
| 92332YAC5 | Venture Global Lng Inc | VENLNG | 9.5 | 02/01/2029 | 24,176,000.00 | 26,360,130.00 | 0.53 |
| 35906ABF4 | Frontier Communications Holdings Llc | FYBR | 5.0 | 05/01/2028 | 25,737,000.00 | 25,723,728.00 | 0.52 |
| 629377CH3 | NRG Energy Inc | NRG | 5.25 | 06/15/2029 | 24,775,000.00 | 24,499,251.00 | 0.49 |
| 78466CAC0 | SS&C Technologies Inc | SSNC | 5.5 | 09/30/2027 | 24,250,000.00 | 24,251,225.00 | 0.49 |
| 146869AN2 | Carvana Co | CVNA | 11.0 | 06/01/2030 | 22,110,000.00 | 23,129,063.00 | 0.46 |
| 14985VAE1 | CCM Merger Inc | MOTOR | 6.38 | 05/01/2026 | 23,044,000.00 | 23,045,809.00 | 0.46 |
| 16308NAA2 | Olympus Water Us Holding Corp | SOLEIN | 7.13 | 10/01/2027 | 22,064,000.00 | 22,418,983.00 | 0.45 |
| 552953CF6 | MGM Resorts International | MGM | 5.5 | 04/15/2027 | 22,250,000.00 | 22,327,819.00 | 0.45 |
| BSF1TT5 | Digicel Intermediate Holdings Ltd / Digi | DIINFL | 11.25 | 05/25/2027 | 22,220,397.00 | 22,237,061.00 | 0.45 |
| 35640YAH0 | Freedom Mortgage Corp | FREMOR | 7.63 | 05/01/2026 | 21,823,000.00 | 21,873,545.00 | 0.44 |
| 05508WAB1 | B&G Foods Inc | BGS | 5.25 | 09/15/2027 | 23,876,000.00 | 21,181,293.00 | 0.43 |
| 89616RAC3 | Trident Tpi Holdings Inc | TEKNI | 12.75 | 12/31/2028 | 19,970,000.00 | 21,352,486.00 | 0.43 |
| 87265HAF6 | TRI Pointe Homes Inc | TPH | 5.25 | 06/01/2027 | 21,693,000.00 | 21,604,605.00 | 0.43 |
| 90932LAG2 | United Airlines Inc | UAL | 4.38 | 04/15/2026 | 21,132,000.00 | 21,004,211.00 | 0.42 |
| 780153BG6 | Royal Caribbean Cruises Ltd | RCL | 5.5 | 04/01/2028 | 20,740,000.00 | 20,959,215.00 | 0.42 |
| BL5176344 | Digicel International Finance Ltd | DLLTD | 5.25 | 07/30/2032 | 20,800,000.00 | 20,748,000.00 | 0.42 |
| 131347CN4 | Calpine Corp | CPN | 5.13 | 03/15/2028 | 20,920,000.00 | 20,817,720.00 | 0.42 |
| 53523LAA8 | Lindblad Expeditions Llc | LIND | 6.75 | 02/15/2027 | 20,525,000.00 | 20,566,572.00 | 0.41 |
| BL4871903 | Acrisure Llc | ACRISU | 7.33 | 11/06/2030 | 20,423,503.00 | 20,385,208.00 | 0.41 |
| 77313LAA1 | Rocket Mortgage Llc / Rocket Mortgage Co | RKT | 2.88 | 10/15/2026 | 20,819,000.00 | 20,305,037.00 | 0.41 |
| 70137TAP0 | Parkland Corp | PKICN | 5.88 | 07/15/2027 | 19,798,000.00 | 19,784,933.00 | 0.40 |
| BL3572759 | First Brands Group Llc | TRICGR | 9.54 | 03/30/2027 | 20,667,623.00 | 20,168,148.00 | 0.40 |
| 63861CAC3 | Nationstar Mortgage Holdings Inc | COOP | 5.5 | 08/15/2028 | 20,195,000.00 | 20,174,397.00 | 0.40 |
| 345397B77 | FORD Motor Credit Co Llc | F | 2.7 | 08/10/2026 | 20,425,000.00 | 19,923,952.00 | 0.40 |
| 045086AM7 | Ashton Woods Usa Llc / Ashton Woods Fina | ASHWOO | 4.63 | 08/01/2029 | 20,982,000.00 | 19,955,442.00 | 0.40 |
| 07556QBR5 | Beazer Homes Usa Inc | BZH | 5.88 | 10/15/2027 | 20,212,000.00 | 20,160,804.00 | 0.40 |
| 00653VAA9 | Adapthealth Llc | ADAHEA | 6.13 | 08/01/2028 | 19,500,000.00 | 19,420,727.00 | 0.39 |
| 364760AP3 | GAP Inc/the | GAP | 3.63 | 10/01/2029 | 20,950,000.00 | 19,304,746.00 | 0.39 |
| 92676XAD9 | Viking Cruises Ltd | VIKCRU | 5.88 | 09/15/2027 | 19,560,000.00 | 19,462,200.00 | 0.39 |
| 92840VAH5 | Vistra Operations Co Llc | VST | 4.38 | 05/01/2029 | 19,490,000.00 | 18,888,482.00 | 0.38 |
| 88033GDR8 | Tenet Healthcare Corp | THC | 4.38 | 01/15/2030 | 19,675,000.00 | 18,924,326.00 | 0.38 |
| BL5117652 | Acrisure Llc | ACRISU | 7.58 | 06/20/2032 | 18,567,096.00 | 18,543,887.00 | 0.37 |
| 33834YAB4 | FIVE Point Operating Co Lp / Five Point | FPH | 10.5 | 01/15/2028 | 18,422,954.00 | 18,609,194.00 | 0.37 |
| 62886EAY4 | NCR Voyix Corp | VYX | 5.0 | 10/01/2028 | 18,655,000.00 | 18,343,389.00 | 0.37 |
| 131347CM6 | Calpine Corp | CPN | 4.5 | 02/15/2028 | 18,785,000.00 | 18,580,024.00 | 0.37 |
| 20752TAB0 | Connect Finco Sarl / Connect Us Finco Ll | ISATLN | 9.0 | 09/15/2029 | 17,596,000.00 | 17,771,960.00 | 0.36 |
| BL4645844 | Doncasters Finance Us Llc | DONCAS | 10.8 | 04/23/2030 | 17,789,813.00 | 17,967,710.00 | 0.36 |
| 7846ELAD9 | SNF Group Saca | SNFF | 3.13 | 03/15/2027 | 18,392,000.00 | 17,775,500.00 | 0.36 |
| 69867DAC2 | Clarios Global Lp / Clarios Us Finance C | POWSOL | 8.5 | 05/15/2027 | 17,525,000.00 | 17,618,233.00 | 0.35 |
| BL4417558 | CLUE Opco Llc | FWRD | 8.78 | 12/19/2030 | 17,505,196.00 | 17,495,812.00 | 0.35 |
| 914906AY8 | Univision Communications Inc | UVN | 8.0 | 08/15/2028 | 16,915,000.00 | 17,381,691.00 | 0.35 |
| 98313RAD8 | WYNN Macau Ltd | WYNMAC | 5.5 | 10/01/2027 | 17,000,000.00 | 16,936,250.00 | 0.34 |
| 707569AS8 | PENN Entertainment Inc | PENN | 5.63 | 01/15/2027 | 16,883,000.00 | 16,799,641.00 | 0.34 |
| 29272WAF6 | Energizer Holdings Inc | ENR | 6.5 | 12/31/2027 | 16,843,000.00 | 17,076,478.00 | 0.34 |
| 74165HAC2 | Prime Healthcare Services Inc | PRIHEA | 9.38 | 09/01/2029 | 16,795,000.00 | 16,685,784.00 | 0.33 |
| 654744AC5 | Nissan Motor Co Ltd | NSANY | 4.35 | 09/17/2027 | 16,930,000.00 | 16,507,427.00 | 0.33 |
| 92332YAF8 | Venture Global Lng Inc | VENLNG | 9.0 | 03/30/2173 | 16,445,000.00 | 16,442,697.00 | 0.33 |
| 35640YAJ6 | Freedom Mortgage Corp | FREMOR | 6.63 | 01/15/2027 | 16,050,000.00 | 16,056,462.00 | 0.32 |
| 57763RAD9 | Mauser Packaging Solutions Holding Co | BWY | 7.88 | 04/15/2027 | 15,865,000.00 | 16,034,948.00 | 0.32 |
| 62957HAJ4 | Nabors Industries Inc | NBR | 7.38 | 05/15/2027 | 15,906,000.00 | 16,049,885.00 | 0.32 |
| SWZ9707Z0K | ICE: (cdx.na.hy.44.v1) | — | 5.0 | 06/20/2030 | 208,395,000.00 | 16,062,514.00 | 0.32 |
| 92913UBC9 | VOYA Clo 2015-3 Ltd | VOYA | 5.48 | 10/20/2031 | 15,430,766.00 | 15,423,627.00 | 0.31 |
| BL4622678 | Lumen Technologies Inc | LUMN | 6.79 | 04/15/2029 | 15,506,534.00 | 15,409,617.00 | 0.31 |
| 98379KAA0 | XPO Inc | XPO | 6.25 | 06/01/2028 | 14,875,000.00 | 15,117,155.00 | 0.30 |
| 70932MAB3 | Pennymac Financial Services Inc | PFSI | 4.25 | 02/15/2029 | 15,600,000.00 | 14,953,154.00 | 0.30 |
| 77311WAA9 | Rocket Cos Inc | RKT | 6.13 | 08/01/2030 | 14,575,000.00 | 14,790,160.00 | 0.30 |
| 58506DAA6 | Medline Borrower Lp/medline Co-issuer In | MEDIND | 6.25 | 04/01/2029 | 14,860,000.00 | 15,176,266.00 | 0.30 |
| 527298CB7 | Level 3 Financing Inc | LVLT | 4.88 | 06/15/2029 | 15,855,000.00 | 14,905,760.00 | 0.30 |
| 25259KAA8 | Olympus Water Us Holding Corp | SOLEIN | 9.75 | 11/15/2028 | 14,100,000.00 | 14,787,929.00 | 0.30 |
| 38016LAA3 | GO Daddy Operating Co Llc / Gd Finance C | GDDY | 5.25 | 12/01/2027 | 15,010,000.00 | 14,951,246.00 | 0.30 |
| 22303XAA3 | Reworld Holding Corp | CVA | 4.88 | 12/01/2029 | 15,866,000.00 | 15,131,891.00 | 0.30 |
| 13323AAB6 | Camelot Finance Sa | CCC | 4.5 | 11/01/2026 | 14,954,000.00 | 14,732,979.00 | 0.30 |
| 013092AC5 | Albertsons Cos Inc / Safeway Inc / New A | ACI | 4.63 | 01/15/2027 | 15,225,000.00 | 15,110,409.00 | 0.30 |
| 36170JAC0 | GGAM Finance Ltd | GGAMFI | 8.0 | 02/15/2027 | 14,105,000.00 | 14,482,026.00 | 0.29 |
| 63938CAK4 | Navient Corp | NAVI | 5.0 | 03/15/2027 | 14,848,000.00 | 14,682,310.00 | 0.29 |
| 733174AL0 | Popular Inc | BPOP | 7.25 | 03/13/2028 | 13,700,000.00 | 14,282,250.00 | 0.29 |
| 654922AB9 | Nissan Motor Co Ltd | NSANY | 7.5 | 07/17/2030 | 13,685,000.00 | 14,112,656.00 | 0.28 |
| 893830BY4 | Transocean Inc | RIG | 8.25 | 05/15/2029 | 14,705,000.00 | 13,823,582.00 | 0.28 |
| B8AC2XVL0 | Heritage Pwr Llc | — | — | — | 217,638.00 | 14,191,847.00 | 0.28 |
| 92769XAP0 | Virgin Media Secured Finance Plc | VMED | 5.5 | 05/15/2029 | 14,425,000.00 | 14,085,724.00 | 0.28 |
| 50168AAA8 | LABL Inc | LABL | 10.5 | 07/15/2027 | 14,710,000.00 | 13,867,462.00 | 0.28 |
| 07132EAJ4 | Battalion Clo Ix Ltd | BATLN | 5.68 | 07/15/2031 | 13,781,423.00 | 13,781,422.00 | 0.28 |
| 12687GAA7 | Cablevision Lightpath Llc | CVLGHT | 3.88 | 09/15/2027 | 13,680,000.00 | 13,542,032.00 | 0.27 |
| 552953CH2 | MGM Resorts International | MGM | 4.75 | 10/15/2028 | 13,589,000.00 | 13,418,069.00 | 0.27 |
| 552953CD1 | MGM Resorts International | MGM | 4.63 | 09/01/2026 | 13,602,000.00 | 13,554,366.00 | 0.27 |
| 315293308 | Ferrellgas Partners Lp | FGPRB | — | — | 100,126.00 | 13,236,587.00 | 0.27 |
| 92676XAF4 | Viking Cruises Ltd | VIKCRU | 7.0 | 02/15/2029 | 13,325,000.00 | 13,427,602.00 | 0.27 |
| BL4979144 | Mavis Tire Express Servi | EOCGRO | 7.33 | 05/04/2028 | 13,286,251.00 | 13,300,480.00 | 0.27 |
| BL4964625 | Boost Newco Borrower Llc | WRLDPY | 6.3 | 01/31/2031 | 12,954,539.00 | 12,959,396.00 | 0.26 |
| BSF1TY0 | Digicel Midco Ltd / Difl Us Ii Llc | DIGMID | 10.5 | 11/25/2028 | 13,028,637.00 | 13,191,494.00 | 0.26 |
| 92840JAD1 | Vistajet Malta Finance Plc / Vista Manag | VSTJET | 7.88 | 05/01/2027 | 13,033,000.00 | 13,085,913.00 | 0.26 |
| 749571AF2 | RHP Hotel Properties Lp / Rhp Finance Co | RHP | 4.75 | 10/15/2027 | 12,902,000.00 | 12,776,358.00 | 0.26 |
| 59833DAB6 | Midwest Gaming Borrower Llc / Midwest Ga | MWGAME | 4.88 | 05/01/2029 | 13,503,000.00 | 13,014,343.00 | 0.26 |
| 12769GAB6 | Caesars Entertainment Inc | CZR | 7.0 | 02/15/2030 | 12,249,000.00 | 12,636,094.00 | 0.25 |
| 143658BQ4 | Carnival Corp | CCL | 4.0 | 08/01/2028 | 13,000,000.00 | 12,576,843.00 | 0.25 |
| 67111BAN0 | OFSI Bsl Ix Ltd | OFSBS | 5.51 | 07/15/2031 | 12,476,049.00 | 12,474,989.00 | 0.25 |
| 70052LAC7 | PARK Intermediate Holdings Llc / Pk Dome | PK | 4.88 | 05/15/2029 | 13,050,000.00 | 12,558,144.00 | 0.25 |
| 69354NAE6 | PRA Group Inc | PRAA | 8.38 | 02/01/2028 | 12,050,000.00 | 12,331,994.00 | 0.25 |
| 69331CAH1 | PG&E Corp | PCG | 5.0 | 07/01/2028 | 12,904,000.00 | 12,592,946.00 | 0.25 |
| 68622TAA9 | Organon & Co / Organon Foreign Debt Co-i | OGN | 4.13 | 04/30/2028 | 12,608,000.00 | 11,927,458.00 | 0.24 |
| 88033GDM9 | Tenet Healthcare Corp | THC | 4.25 | 06/01/2029 | 12,275,000.00 | 11,841,653.00 | 0.24 |
| 90932LAH0 | United Airlines Inc | UAL | 4.63 | 04/15/2029 | 12,400,000.00 | 12,102,387.00 | 0.24 |
| 85571BAY1 | Starwood Property Trust Inc | STWD | 4.38 | 01/15/2027 | 12,295,000.00 | 12,093,943.00 | 0.24 |
| BL4808012 | TPC Group Inc | TPCG | 9.95 | 11/21/2031 | 12,643,313.00 | 12,137,580.00 | 0.24 |
| 21873SAB4 | Coreweave Inc | CRWV | 9.25 | 06/01/2030 | 11,990,000.00 | 12,050,934.00 | 0.24 |
| 053773BE6 | AVIS Budget Car Rental Llc / Avis Budget | CAR | 5.75 | 07/15/2027 | 12,078,000.00 | 12,018,260.00 | 0.24 |
| 04364VAK9 | Ascent Resources Utica Holdings Llc / Ar | ASCRES | 9.0 | 11/01/2027 | 9,709,000.00 | 11,813,094.00 | 0.24 |
| 63938CAL2 | Navient Corp | NAVI | 4.88 | 03/15/2028 | 12,240,000.00 | 11,939,250.00 | 0.24 |
| 638962AA8 | NCR Atleos Corp | NCRATL | 9.5 | 04/01/2029 | 11,006,000.00 | 11,926,491.00 | 0.24 |
| 26884LBG3 | EQT Corp | EQT | 7.5 | 06/01/2027 | 11,784,000.00 | 11,991,837.00 | 0.24 |
| 346232AE1 | Forestar Group Inc | FOR | 5.0 | 03/01/2028 | 11,400,000.00 | 11,300,567.00 | 0.23 |
| 527298BV4 | Level 3 Financing Inc | LVLT | 11.0 | 11/15/2029 | 9,991,738.00 | 11,350,116.00 | 0.23 |
| 18064PAC3 | Clarivate Science Holdings Corp | CLVTSC | 3.88 | 07/01/2028 | 11,960,000.00 | 11,452,284.00 | 0.23 |
| BL4680841 | Clarios Global Lp | POWSOL | 6.83 | 05/06/2030 | 11,397,987.00 | 11,397,986.00 | 0.23 |
| 91832VAA2 | VOC Escrow Ltd | VIKCRU | 5.0 | 02/15/2028 | 11,350,000.00 | 11,214,821.00 | 0.23 |
| 983130AX3 | WYNN Las Vegas Llc / Wynn Las Vegas Capi | WYNNLV | 5.25 | 05/15/2027 | 10,800,000.00 | 10,786,072.00 | 0.22 |
| B8AC6L2G5 | Hurricane Cleanco Limited | — | 6.25 | 10/31/2029 | 8,127,713.00 | 11,055,880.00 | 0.22 |
| BMYGPJ1 | Preem Holdings Ab | PREEM | 12.0 | 06/30/2027 | 9,360,000.00 | 10,977,513.00 | 0.22 |
| 682691AC4 | Onemain Finance Corp | OMF | 3.88 | 09/15/2028 | 11,633,000.00 | 11,095,041.00 | 0.22 |
| 68245XAM1 | 1011778 Bc Ulc / New Red Finance Inc | BCULC | 4.0 | 10/15/2030 | 11,635,000.00 | 10,776,918.00 | 0.22 |
| 670001AE6 | Novelis Corp | HNDLIN | 4.75 | 01/30/2030 | 11,380,000.00 | 10,902,820.00 | 0.22 |
| 18453HAE6 | Clear Channel Outdoor Holdings Inc | CCO | 9.0 | 09/15/2028 | 10,500,000.00 | 11,005,065.00 | 0.22 |
| 019579AA9 | Allied Universal Holdco Llc/allied Unive | UNSEAM | 4.63 | 06/01/2028 | 11,216,000.00 | 10,879,520.00 | 0.22 |
| 25470MAG4 | DISH Network Corp | DISH | 11.75 | 11/15/2027 | 10,500,000.00 | 10,932,715.00 | 0.22 |
| 31556TAC3 | Fertitta Entertainment Llc / Fertitta En | FRTITA | 6.75 | 01/15/2030 | 11,339,000.00 | 10,668,433.00 | 0.21 |
| 475795AD2 | Jeld-wen Inc | JELD | 4.88 | 12/15/2027 | 11,045,000.00 | 10,473,134.00 | 0.21 |
| 05552BAA4 | LBM Acquisition Llc | USLBMH | 6.25 | 01/15/2029 | 11,830,000.00 | 10,383,946.00 | 0.21 |
| 05553LAA1 | BCPE Ulysses Intermediate Inc | USLBMH | 7.75 | 04/01/2027 | 10,275,000.00 | 10,273,251.00 | 0.21 |
| 08949LAB6 | BIG River Steel Llc / Brs Finance Corp | BIGBRS | 6.63 | 01/31/2029 | 10,701,000.00 | 10,696,614.00 | 0.21 |
| 17302XAM8 | Citgo Petroleum Corp | CITPET | 6.38 | 06/15/2026 | 10,350,000.00 | 10,344,149.00 | 0.21 |
| 86765KAA7 | Sunoco Lp / Sunoco Finance Corp | SUN | 7.0 | 09/15/2028 | 10,125,000.00 | 10,433,652.00 | 0.21 |
| BL4985588 | Athenahealth Group Inc | ATHENA | 7.08 | 02/15/2029 | 10,566,874.00 | 10,546,120.00 | 0.21 |
| BL3572783 | First Brands Group Llc | TRICGR | 13.04 | 03/30/2028 | 11,098,000.00 | 10,376,630.00 | 0.21 |
| B8ADAMRM6 | International Park Hldgs Bv | — | 7.54 | 12/31/2031 | 9,350,000.00 | 10,576,439.00 | 0.21 |
| BL3443084 | Virgin Media Bristol Llc | VMED | 7.68 | 01/31/2029 | 10,725,000.00 | 10,646,053.00 | 0.21 |
| 96926JAC1 | William Carter Co/the | CRI | 5.63 | 03/15/2027 | 10,326,000.00 | 10,250,610.00 | 0.21 |
| 92840VAB8 | Vistra Operations Co Llc | VST | 5.63 | 02/15/2027 | 9,800,000.00 | 9,788,222.00 | 0.20 |
| 92537RAA7 | TK Elevator Us Newco Inc | THYELE | 5.25 | 07/15/2027 | 9,952,000.00 | 9,914,680.00 | 0.20 |
| 92564RAH8 | VICI Properties Lp / Vici Note Co Inc | VICI | 4.5 | 09/01/2026 | 10,120,000.00 | 10,070,333.00 | 0.20 |
| BL4985299 | Boxer Parent Co Inc | BMC | 7.33 | 07/30/2031 | 9,891,472.00 | 9,886,832.00 | 0.20 |
| 861036AB7 | STL Holding Co Llc | DSLDHM | 8.75 | 02/15/2029 | 9,587,000.00 | 9,971,098.00 | 0.20 |
| 737446AP9 | POST Holdings Inc | POST | 5.5 | 12/15/2029 | 10,010,000.00 | 9,925,103.00 | 0.20 |
| 097023DG7 | Boeing Co/the | BA | 2.2 | 02/04/2026 | 10,000,000.00 | 9,868,044.00 | 0.20 |
| 00489LAK9 | Acrisure Llc / Acrisure Finance Inc | ACRISU | 8.25 | 02/01/2029 | 9,711,000.00 | 10,031,063.00 | 0.20 |
| 00081TAK4 | ACCO Brands Corp | ACCO | 4.25 | 03/15/2029 | 11,123,000.00 | 9,852,579.00 | 0.20 |
| 629377CE0 | NRG Energy Inc | NRG | 5.75 | 01/15/2028 | 9,899,000.00 | 9,915,251.00 | 0.20 |
| 57779EAA6 | Maxim Crane Works Holdings Capital Llc | CLDCRN | 11.5 | 09/01/2028 | 9,365,000.00 | 9,932,627.00 | 0.20 |
| 603051AE3 | Mineral Resources Ltd | MINAU | 9.25 | 10/01/2028 | 9,683,000.00 | 10,094,527.00 | 0.20 |
| 62886HBN0 | NCL Corp Ltd | NCLH | 8.13 | 01/15/2029 | 9,450,000.00 | 9,908,041.00 | 0.20 |
| 62886HBP5 | NCL Corp Ltd | NCLH | 6.25 | 03/01/2030 | 9,715,000.00 | 9,836,437.00 | 0.20 |
| 42704LAF1 | HERC Holdings Inc | HRI | 7.0 | 06/15/2030 | 9,625,000.00 | 9,938,610.00 | 0.20 |
| 431318AU8 | Hilcorp Energy I Lp / Hilcorp Finance Co | HILCRP | 5.75 | 02/01/2029 | 10,303,000.00 | 10,102,367.00 | 0.20 |
| 36168QAP9 | GFL Environmental Inc | GFLCN | 4.38 | 08/15/2029 | 10,471,000.00 | 10,119,802.00 | 0.20 |
| 36170JAA4 | GGAM Finance Ltd | GGAMFI | 8.0 | 06/15/2028 | 9,175,000.00 | 9,671,734.00 | 0.19 |
| 335934AT2 | First Quantum Minerals Ltd | FMCN | 6.88 | 10/15/2027 | 9,601,000.00 | 9,588,998.00 | 0.19 |
| 35641AAA6 | Freedom Mortgage Holdings Llc | FREMOR | 9.25 | 02/01/2029 | 9,035,000.00 | 9,447,527.00 | 0.19 |
| 62886HBG5 | NCL Corp Ltd | NCLH | 7.75 | 02/15/2029 | 8,875,000.00 | 9,384,602.00 | 0.19 |
| 50168QAC9 | LABL Inc | LABL | 5.88 | 11/01/2028 | 10,900,000.00 | 9,596,679.00 | 0.19 |
| 00253XAA9 | American Airlines Inc/aadvantage Loyalty | AAL | 5.5 | 04/20/2026 | 9,707,876.00 | 9,659,336.00 | 0.19 |
| BL3652478 | Skillsoft Finance Ii Inc | SKIL | 9.69 | 07/14/2028 | 10,122,543.00 | 9,394,985.00 | 0.19 |
| BL4813269 | Trans Union Llc | TRUN | 6.08 | 06/24/2031 | 9,602,093.00 | 9,611,099.00 | 0.19 |
| BL4807626 | DUN & Bradstreet Corp | DNB | 6.57 | 01/18/2029 | 9,317,072.00 | 9,312,990.00 | 0.19 |
| 92921EAA0 | Voyager Parent Llc | EVRI | 9.25 | 07/01/2032 | 9,000,000.00 | 9,522,848.00 | 0.19 |
| 97381AAA0 | Windstream Services Llc / Windstream Esc | WIN | 8.25 | 10/01/2031 | 8,530,000.00 | 8,936,971.00 | 0.18 |
| 70137WAG3 | Parkland Corp | PKICN | 4.5 | 10/01/2029 | 9,550,000.00 | 9,205,627.00 | 0.18 |
| 780153BK7 | Royal Caribbean Cruises Ltd | RCL | 5.38 | 07/15/2027 | 8,894,000.00 | 8,935,244.00 | 0.18 |
| 681639AA8 | Olympus Water Us Holding Corp | SOLEIN | 4.25 | 10/01/2028 | 9,311,000.00 | 8,869,717.00 | 0.18 |
| 87470LAG6 | Tallgrass Energy Partners Lp / Tallgrass | TEP | 6.0 | 03/01/2027 | 9,092,000.00 | 9,064,521.00 | 0.18 |
| 91282CLS8 | United States Treasury Note/bond | T | 4.13 | 10/31/2026 | 9,165,000.00 | 9,163,925.00 | 0.18 |
| 87724RAB8 | Taylor Morrison Communities Inc | TMHC | 5.75 | 01/15/2028 | 8,769,000.00 | 8,851,505.00 | 0.18 |
| 893647BU0 | Transdigm Inc | TDG | 6.38 | 03/01/2029 | 8,910,000.00 | 9,120,614.00 | 0.18 |
| 058498AZ9 | BALL Corp | BALL | 6.0 | 06/15/2029 | 8,855,000.00 | 9,013,235.00 | 0.18 |
| 05508WAC9 | B&G Foods Inc | BGS | 8.0 | 09/15/2028 | 9,605,000.00 | 8,983,077.00 | 0.18 |
| 17888HAA1 | Civitas Resources Inc | CIVI | 8.38 | 07/01/2028 | 8,630,000.00 | 8,885,007.00 | 0.18 |
| 18972EAB1 | Clydesdale Acquisition Holdings Inc | NOVHOL | 8.75 | 04/15/2030 | 8,845,000.00 | 9,022,183.00 | 0.18 |
| 109641AK6 | Brinker International Inc | EAT | 8.25 | 07/15/2030 | 8,500,000.00 | 9,018,840.00 | 0.18 |
| 536797AG8 | Lithia Motors Inc | LAD | 3.88 | 06/01/2029 | 9,550,000.00 | 9,025,736.00 | 0.18 |
| 62886HBE0 | NCL Corp Ltd | NCLH | 5.88 | 02/15/2027 | 8,816,000.00 | 8,809,388.00 | 0.18 |
| 64083YAA9 | Nesco Holdings Ii Inc | NSCO | 5.5 | 04/15/2029 | 8,450,000.00 | 8,237,815.00 | 0.17 |
| 55305BAS0 | M/I Homes Inc | MHO | 4.95 | 02/01/2028 | 8,350,000.00 | 8,273,564.00 | 0.17 |
| 55342UAH7 | MPT Operating Partnership Lp / Mpt Finan | MPW | 5.0 | 10/15/2027 | 9,055,000.00 | 8,306,729.00 | 0.17 |
| 35908MAB6 | Frontier Communications Holdings Llc | FYBR | 6.0 | 01/15/2030 | 8,608,000.00 | 8,709,478.00 | 0.17 |
| 854938AA5 | STAR Leasing Co Llc | TRAILR | 7.63 | 02/15/2030 | 8,600,000.00 | 8,487,387.00 | 0.17 |
| 77340RAT4 | Rockies Express Pipeline Llc | ROCKIE | 4.8 | 05/15/2030 | 8,795,000.00 | 8,484,166.00 | 0.17 |
| 682691AJ9 | Onemain Finance Corp | OMF | 6.75 | 03/15/2032 | 8,400,000.00 | 8,520,181.00 | 0.17 |
| BL4949832 | Clarios Global Lp | POWSOL | 7.08 | 01/28/2032 | 8,375,000.00 | 8,378,492.00 | 0.17 |
| BNZHNG3 | Bellis Acquisition Co Plc | ASSDLN | 8.13 | 05/14/2030 | 6,950,000.00 | 8,710,872.00 | 0.17 |
| BL4579993 | Digicel Intl Finance Ltd | DLLTD | 11.78 | 05/25/2027 | 8,109,591.00 | 8,069,043.00 | 0.16 |
| 92840VAA0 | Vistra Operations Co Llc | VST | 5.5 | 09/01/2026 | 7,892,000.00 | 7,885,004.00 | 0.16 |
| 92332YAD3 | Venture Global Lng Inc | VENLNG | 9.88 | 02/01/2032 | 7,555,000.00 | 8,151,654.00 | 0.16 |
| 69356MAA4 | PM General Purchaser Llc | AMGENE | 9.5 | 10/01/2028 | 10,375,000.00 | 8,064,583.00 | 0.16 |
| 82088KAK4 | SHEA Homes Lp / Shea Homes Funding Corp | SHEAHM | 4.75 | 02/15/2028 | 8,075,000.00 | 7,899,469.00 | 0.16 |
| 83613HAL1 | Sound Point Clo Xxi Ltd | SNDPT | 5.61 | 10/26/2031 | 7,767,162.00 | 7,778,055.00 | 0.16 |
| 29163VAG8 | Empire Communities Corp | EMPRCC | 9.75 | 05/01/2029 | 7,870,000.00 | 8,017,090.00 | 0.16 |
| 63861CAA7 | Nationstar Mortgage Holdings Inc | COOP | 6.0 | 01/15/2027 | 8,175,000.00 | 8,183,479.00 | 0.16 |
| 126307AQ0 | CSC Holdings Llc | CSCHLD | 5.5 | 04/15/2027 | 8,071,000.00 | 7,814,581.00 | 0.16 |
| 143658BY7 | Carnival Corp | CCL | 5.75 | 03/15/2030 | 7,776,000.00 | 7,887,780.00 | 0.16 |
| 143658CA8 | Carnival Corp | CCL | 5.75 | 08/01/2032 | 7,680,000.00 | 7,731,993.00 | 0.16 |
| 041242AA6 | ARKO Corp | ARKO | 5.13 | 11/15/2029 | 9,750,000.00 | 7,994,058.00 | 0.16 |
| 03969AAN0 | Ardagh Packaging Finance Plc / Ardagh Ho | ARGID | 4.13 | 08/15/2026 | 7,453,000.00 | 7,359,837.00 | 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 | 7,520,266.00 | 0.15 |
| 235825AG1 | DANA Inc | DAN | 5.63 | 06/15/2028 | 7,375,000.00 | 7,376,478.00 | 0.15 |
| 55609NAC2 | Macquarie Airfinance Holdings Ltd | MCAIRH | 6.4 | 03/26/2029 | 7,100,000.00 | 7,382,244.00 | 0.15 |
| 55819JAN3 | Madison Park Funding Xxxiii Ltd | MDPK | 5.61 | 10/15/2032 | 7,451,593.00 | 7,460,534.00 | 0.15 |
| 50190EAA2 | LCM Investments Holdings Ii Llc | MAGLLC | 4.88 | 05/01/2029 | 7,638,000.00 | 7,423,003.00 | 0.15 |
| 45344LAC7 | Crescent Energy Finance Llc | CRGYFN | 9.25 | 02/15/2028 | 7,291,000.00 | 7,577,866.00 | 0.15 |
| 74843PAA8 | Quikrete Holdings Inc | QUIKHO | 6.38 | 03/01/2032 | 7,470,000.00 | 7,666,632.00 | 0.15 |
| 651229BF2 | Newell Brands Inc | NWL | 6.38 | 05/15/2030 | 7,615,000.00 | 7,401,838.00 | 0.15 |
| B8AB393F8 | TPC Group Rights | — | — | — | 319,092.00 | 7,598,378.00 | 0.15 |
| BL3493089 | LBM Acquisition Llc | USLBMH | 8.18 | 12/17/2027 | 6,860,878.00 | 6,826,573.00 | 0.14 |
| BL3543891 | Connect Finco Sarl | IMASF | 7.83 | 12/11/2026 | 7,042,003.00 | 7,024,398.00 | 0.14 |
| 92841HAA0 | Vistajet Malta Finance Plc / Vista Manag | VSTJET | 9.5 | 06/01/2028 | 7,047,000.00 | 7,223,731.00 | 0.14 |
| BL4799294 | Xplore Inc/nb | BARXPL | 6.09 | 10/24/2031 | 9,160,741.00 | 6,870,555.00 | 0.14 |
| BL4783108 | NCR Atleos Corp | NCRATL | 8.03 | 04/16/2029 | 6,926,933.00 | 6,975,421.00 | 0.14 |
| BL4846426 | Cimpress Plc | CMPR | 6.83 | 05/17/2028 | 6,914,738.00 | 6,888,807.00 | 0.14 |
| 68245XAJ8 | 1011778 Bc Ulc / New Red Finance Inc | BCULC | 4.38 | 01/15/2028 | 7,025,000.00 | 6,866,937.00 | 0.14 |
| 79546VAQ9 | Sally Holdings Llc / Sally Capital Inc | SBH | 6.75 | 03/01/2032 | 6,810,000.00 | 6,992,927.00 | 0.14 |
| 85172FAR0 | Onemain Finance Corp | OMF | 5.38 | 11/15/2029 | 7,250,000.00 | 7,107,440.00 | 0.14 |
| 87724RAA0 | Taylor Morrison Communities Inc | TMHC | 5.88 | 06/15/2027 | 6,681,000.00 | 6,734,973.00 | 0.14 |
| 896522AJ8 | Trinity Industries Inc | TRN | 7.75 | 07/15/2028 | 6,635,000.00 | 6,908,830.00 | 0.14 |
| 469815AK0 | Jacobs Entertainment Inc | JACENT | 6.75 | 02/15/2029 | 7,075,000.00 | 6,895,147.00 | 0.14 |
| 535219AA7 | Lindblad Expeditions Holdings Inc | LIND | 9.0 | 05/15/2028 | 6,475,000.00 | 6,749,052.00 | 0.14 |
| 50050NAA1 | Kontoor Brands Inc | KTB | 4.13 | 11/15/2029 | 7,581,000.00 | 7,051,837.00 | 0.14 |
| 59155LAA0 | Mavis Tire Express Services Topco Corp | EOCGRO | 6.5 | 05/15/2029 | 7,043,000.00 | 6,961,244.00 | 0.14 |
| 35906ABG2 | Frontier Communications Holdings Llc | FYBR | 6.75 | 05/01/2029 | 6,925,000.00 | 6,992,900.00 | 0.14 |
| 019576AF4 | Allied Universal Holdco Llc / Allied Uni | UNSEAM | 6.88 | 06/15/2030 | 6,590,000.00 | 6,751,849.00 | 0.14 |
| 00810GAD6 | Aethon United Br Lp / Aethon United Fina | AETUNI | 7.5 | 10/01/2029 | 6,280,000.00 | 6,577,954.00 | 0.13 |
| 07556QBT1 | Beazer Homes Usa Inc | BZH | 7.25 | 10/15/2029 | 6,417,000.00 | 6,456,553.00 | 0.13 |
| 233104AA6 | DCLI Bidco Llc | DIRCHA | 7.75 | 11/15/2029 | 6,275,000.00 | 6,400,891.00 | 0.13 |
| 185899AN1 | Cleveland-cliffs Inc | CLF | 6.75 | 04/15/2030 | 6,525,000.00 | 6,487,058.00 | 0.13 |
| 398433AP7 | Griffon Corp | GFF | 5.75 | 03/01/2028 | 6,375,000.00 | 6,341,723.00 | 0.13 |
| 335934AV7 | First Quantum Minerals Ltd | FMCN | 9.38 | 03/01/2029 | 6,015,000.00 | 6,353,343.00 | 0.13 |
| 62886HBA8 | NCL Corp Ltd | NCLH | 5.88 | 03/15/2026 | 6,653,000.00 | 6,657,989.00 | 0.13 |
| 469815AL8 | Jacobs Entertainment Inc | JACENT | 6.75 | 02/15/2029 | 6,575,000.00 | 6,428,503.00 | 0.13 |
| 85172FAN9 | Onemain Finance Corp | OMF | 7.13 | 03/15/2026 | 6,222,000.00 | 6,295,151.00 | 0.13 |
| 86765LAQ0 | Sunoco Lp / Sunoco Finance Corp | SUN | 6.0 | 04/15/2027 | 6,575,000.00 | 6,571,228.00 | 0.13 |
| 68245XAH2 | 1011778 Bc Ulc / New Red Finance Inc | BCULC | 3.88 | 01/15/2028 | 6,732,000.00 | 6,494,091.00 | 0.13 |
| BL4766657 | Windstream Services Llc | WIN | 9.18 | 10/01/2031 | 6,500,000.00 | 6,524,375.00 | 0.13 |
| BL3856764 | Viasat Inc | VSAT | 8.94 | 03/02/2029 | 6,609,787.00 | 6,501,003.00 | 0.13 |
| 98927UAA5 | Zegona Finance Plc | ZEGLN | 8.63 | 07/15/2029 | 6,180,000.00 | 6,562,047.00 | 0.13 |
| 98379JAA3 | RXO Inc | RXO | 7.5 | 11/15/2027 | 6,345,000.00 | 6,475,876.00 | 0.13 |
| 65505PAA5 | Noble Finance Ii Llc | NEFINA | 8.0 | 04/15/2030 | 5,950,000.00 | 6,053,252.00 | 0.12 |
| 70052LAB9 | PARK Intermediate Holdings Llc / Pk Dome | PK | 5.88 | 10/01/2028 | 6,187,000.00 | 6,166,944.00 | 0.12 |
| 74841CAA9 | Rocket Mortgage Llc / Rocket Mortgage Co | RKT | 3.63 | 03/01/2029 | 6,350,000.00 | 5,999,937.00 | 0.12 |
| 857691AG4 | Station Casinos Llc | RRR | 4.5 | 02/15/2028 | 6,325,000.00 | 6,182,891.00 | 0.12 |
| 85172FAQ2 | Onemain Finance Corp | OMF | 6.63 | 01/15/2028 | 6,036,000.00 | 6,179,416.00 | 0.12 |
| 91282CMH1 | United States Treasury Note/bond | T | 4.13 | 01/31/2027 | 6,200,000.00 | 6,206,054.00 | 0.12 |
| 88830MAM4 | Titan International Inc | TWI | 7.0 | 04/30/2028 | 6,000,000.00 | 5,983,733.00 | 0.12 |
| 89157UAA5 | Toucan Finco Ltd/toucan Finco Can Inc/to | TOUCAN | 9.5 | 05/15/2030 | 5,725,000.00 | 5,858,907.00 | 0.12 |
| 62886HBR1 | NCL Corp Ltd | NCLH | 6.75 | 02/01/2032 | 5,840,000.00 | 5,971,400.00 | 0.12 |
| 303250AF1 | FAIR Isaac Corp | FAIRIC | 4.0 | 06/15/2028 | 6,126,000.00 | 5,920,093.00 | 0.12 |
| 380355AH0 | Goeasy Ltd | GSYCN | 9.25 | 12/01/2028 | 5,834,000.00 | 6,177,272.00 | 0.12 |
| 380355AJ6 | Goeasy Ltd | GSYCN | 7.63 | 07/01/2029 | 5,865,000.00 | 6,018,076.00 | 0.12 |
| 380355AN7 | Goeasy Ltd | GSYCN | 7.38 | 10/01/2030 | 5,155,000.00 | 5,241,140.00 | 0.11 |
| 27034RAA1 | Permian Resources Operating Llc | PR | 8.0 | 04/15/2027 | 5,480,000.00 | 5,601,195.00 | 0.11 |
| 053773BC0 | AVIS Budget Car Rental Llc / Avis Budget | CAR | 5.75 | 07/15/2027 | 5,699,000.00 | 5,665,021.00 | 0.11 |
| 049362AA4 | Allied Universal Holdco Llc/allied Unive | UNSEAM | 4.63 | 06/01/2028 | 5,525,000.00 | 5,357,482.00 | 0.11 |
| 00687YAB1 | Adient Global Holdings Ltd | ADNT | 7.0 | 04/15/2028 | 5,541,000.00 | 5,651,044.00 | 0.11 |
| 85571BBB0 | Starwood Property Trust Inc | STWD | 7.25 | 04/01/2029 | 5,300,000.00 | 5,548,985.00 | 0.11 |
| 853496AD9 | Standard Industries Inc/ny | BMCAUS | 4.75 | 01/15/2028 | 5,600,000.00 | 5,531,479.00 | 0.11 |
| 81725WAK9 | Sensata Technologies Bv | ST | 4.0 | 04/15/2029 | 5,600,000.00 | 5,302,808.00 | 0.11 |
| 92332YAE1 | Venture Global Lng Inc | VENLNG | 7.0 | 01/15/2030 | 5,445,000.00 | 5,522,543.00 | 0.11 |
| BL4454486 | Venator Finance Sarl | VNTR | 6.32 | 10/12/2028 | 7,762,588.00 | 5,433,811.00 | 0.11 |
| BMGB6F7 | Ardagh Packaging Finance Plc / Ardagh Ho | ARGID | 2.13 | 08/15/2026 | 4,750,000.00 | 5,373,702.00 | 0.11 |
| BLFHRK1 | Venator Materials Plc | VNTRF | — | — | 26,944.00 | 4,849,920.00 | 0.10 |
| BL5118916 | Bingo Holdings I Llc | AGS | 4.75 | 06/14/2032 | 4,750,000.00 | 4,753,956.00 | 0.10 |
| BL4938413 | Venator Finance Sarl | VNTR | 6.3 | 07/16/2026 | 5,474,644.00 | 5,200,912.00 | 0.10 |
| BL3925031 | IRIS Holding Inc | ITPCN | 9.13 | 06/28/2028 | 5,280,632.00 | 5,132,478.00 | 0.10 |
| 98313RAH9 | WYNN Macau Ltd | WYNMAC | 5.63 | 08/26/2028 | 4,962,000.00 | 4,907,914.00 | 0.10 |
| B8AC8DDQ7 | Venator Fin Sarl | — | 6.31 | 12/31/2025 | 5,444,800.00 | 5,172,560.00 | 0.10 |
| B8ADRJ0H5 | Clubcorp Holdings Inc | — | — | 04/30/2032 | 5,071,492.00 | 5,029,905.00 | 0.10 |
| 893647BR7 | Transdigm Inc | TDG | 6.75 | 08/15/2028 | 4,750,000.00 | 4,847,239.00 | 0.10 |
| 70932MAE7 | Pennymac Financial Services Inc | PFSI | 7.13 | 11/15/2030 | 4,675,000.00 | 4,817,296.00 | 0.10 |
| 69354NAF3 | PRA Group Inc | PRAA | 8.88 | 01/31/2030 | 4,568,000.00 | 4,742,620.00 | 0.10 |
| 69306RAB2 | P&L Development Llc / Pld Finance Corp | PLDEVE | 12.0 | 05/15/2029 | 4,906,160.00 | 5,073,834.00 | 0.10 |
| 02406PAU4 | American Axle & Manufacturing Inc | AXL | 6.5 | 04/01/2027 | 5,040,000.00 | 5,046,260.00 | 0.10 |
| 02128LAC0 | ALTA Equipment Group Inc | ALTG | 9.0 | 06/01/2029 | 5,240,000.00 | 4,977,003.00 | 0.10 |
| 165167735 | Expand Energy Corp | EXE | — | — | 45,874.00 | 4,806,677.00 | 0.10 |
| 15089QAW4 | Celanese Us Holdings Llc | CE | 6.85 | 11/15/2028 | 4,550,000.00 | 4,739,566.00 | 0.10 |
| 21979LAB2 | Coronado Finance Pty Ltd | CRNAU | 9.25 | 10/01/2029 | 6,600,000.00 | 5,040,750.00 | 0.10 |
| 185899AQ4 | Cleveland-cliffs Inc | CLF | 6.88 | 11/01/2029 | 4,985,000.00 | 4,986,799.00 | 0.10 |
| 205768AT1 | Comstock Resources Inc | CRK | 5.88 | 01/15/2030 | 5,300,000.00 | 5,000,314.00 | 0.10 |
| 11283YAD2 | Brookfield Residential Properties Inc / | BRPCN | 4.88 | 02/15/2030 | 5,300,000.00 | 4,804,556.00 | 0.10 |
| 25260WAD3 | Diamond Foreign Asset Co / Diamond Finan | DO | 8.5 | 10/01/2030 | 4,725,000.00 | 4,922,835.00 | 0.10 |
| 34966MAA0 | Fortress Intermediate 3 Inc | PSDO | 7.5 | 06/01/2031 | 4,940,000.00 | 5,181,640.00 | 0.10 |
| 36168QAL8 | GFL Environmental Inc | GFLCN | 4.0 | 08/01/2028 | 4,975,000.00 | 4,820,775.00 | 0.10 |
| 36170JAB2 | GGAM Finance Ltd | GGAMFI | 7.75 | 05/15/2026 | 5,075,000.00 | 5,104,485.00 | 0.10 |
| 422704AH9 | Hecla Mining Co | HL | 7.25 | 02/15/2028 | 4,975,000.00 | 5,024,359.00 | 0.10 |
| 42704LAE4 | HERC Holdings Inc | HRI | 6.63 | 06/15/2029 | 4,935,000.00 | 5,053,580.00 | 0.10 |
| 553283AG7 | MPH Acquisition Holdings Llc | MLTPLN | 5.75 | 12/31/2030 | 6,187,258.00 | 5,092,257.00 | 0.10 |
| 603051AA1 | Mineral Resources Ltd | MINAU | 8.13 | 05/01/2027 | 5,070,000.00 | 5,068,833.00 | 0.10 |
| 603051AC7 | Mineral Resources Ltd | MINAU | 8.0 | 11/01/2027 | 4,783,000.00 | 4,842,787.00 | 0.10 |
| 431318AS3 | Hilcorp Energy I Lp / Hilcorp Finance Co | HILCRP | 6.25 | 11/01/2028 | 4,633,000.00 | 4,653,921.00 | 0.09 |
| 432833AP6 | Hilton Domestic Operating Co Inc | HLT | 5.88 | 04/01/2029 | 4,320,000.00 | 4,389,254.00 | 0.09 |
| 36168QAN4 | GFL Environmental Inc | GFLCN | 4.75 | 06/15/2029 | 4,500,000.00 | 4,387,500.00 | 0.09 |
| 126307AS6 | CSC Holdings Llc | CSCHLD | 5.38 | 02/01/2028 | 4,950,000.00 | 4,554,034.00 | 0.09 |
| 030981AL8 | Amerigas Partners Lp / Amerigas Finance | APU | 5.75 | 05/20/2027 | 4,429,000.00 | 4,402,844.00 | 0.09 |
| 04942PAJ6 | Atlas Static Senior Loan Fund I Ltd | ATSTC | 6.07 | 07/15/2030 | 4,661,709.00 | 4,661,633.00 | 0.09 |
| 05480AAA3 | Azorra Finance Ltd | AZORRA | 7.75 | 04/15/2030 | 4,365,000.00 | 4,545,056.00 | 0.09 |
| 668771AK4 | GEN Digital Inc | GEN | 6.75 | 09/30/2027 | 4,525,000.00 | 4,602,492.00 | 0.09 |
| 63861CAG4 | Nationstar Mortgage Holdings Inc | COOP | 6.5 | 08/01/2029 | 4,145,000.00 | 4,235,685.00 | 0.09 |
| 68245XAR0 | 1011778 Bc Ulc / New Red Finance Inc | BCULC | 6.13 | 06/15/2029 | 4,210,000.00 | 4,283,885.00 | 0.09 |
| 71880KAA9 | Phinia Inc | PHIN | 6.75 | 04/15/2029 | 4,450,000.00 | 4,580,188.00 | 0.09 |
| 91282CKS9 | United States Treasury Note/bond | T | 4.88 | 05/31/2026 | 4,489,000.00 | 4,511,269.00 | 0.09 |
| 86765KAB5 | Sunoco Lp | SUN | 7.0 | 05/01/2029 | 4,295,000.00 | 4,460,124.00 | 0.09 |
| 95081QAP9 | Wesco Distribution Inc | WCC | 7.25 | 06/15/2028 | 4,602,000.00 | 4,666,047.00 | 0.09 |
| 983133AA7 | WYNN Resorts Finance Llc / Wynn Resorts | WYNFIN | 5.13 | 10/01/2029 | 4,575,000.00 | 4,538,342.00 | 0.09 |
| BL4045797 | Tenneco Inc | TENINC | 9.42 | 11/17/2028 | 4,600,000.00 | 4,538,392.00 | 0.09 |
| BL4063485 | Altice Financing Sa | ALTICE | 9.26 | 10/31/2027 | 5,071,970.00 | 4,407,856.00 | 0.09 |
| BL4578458 | Consolidated Energy Fin Sa | CONSEN | 8.83 | 11/15/2030 | 4,259,648.00 | 4,014,718.00 | 0.08 |
| BL4587764 | Magnera Corp | MAGN | 8.58 | 11/04/2031 | 4,129,250.00 | 4,096,992.00 | 0.08 |
| BL4986859 | ECO Material Tech Inc | ECOMAT | 7.47 | 02/12/2032 | 4,038,000.00 | 4,048,095.00 | 0.08 |
| BL4993863 | MPH Acquisition Holdings | MLTPLN | 9.14 | 12/31/2030 | 4,742,905.00 | 4,227,114.00 | 0.08 |
| BL5007242 | Windsor Holdings Iii Llc | UNVR | 7.07 | 08/01/2030 | 4,038,807.00 | 4,026,185.00 | 0.08 |
| 96350RAA2 | White Cap Buyer Llc | WHTCAP | 6.88 | 10/15/2028 | 3,850,000.00 | 3,841,584.00 | 0.08 |
| 92682RAA0 | Viking Ocean Cruises Ship Vii Ltd | VIKCRU | 5.63 | 02/15/2029 | 4,000,000.00 | 3,978,520.00 | 0.08 |
| 864486AK1 | Suburban Propane Partners Lp/suburban En | SPH | 5.88 | 03/01/2027 | 4,008,000.00 | 3,993,480.00 | 0.08 |
| 82088KAJ7 | SHEA Homes Lp / Shea Homes Funding Corp | SHEAHM | 4.75 | 04/01/2029 | 4,100,000.00 | 3,960,114.00 | 0.08 |
| 845467AS8 | Expand Energy Corp | EXE | 5.38 | 03/15/2030 | 4,030,000.00 | 4,036,370.00 | 0.08 |
| 893830BZ1 | Transocean Inc | RIG | 8.5 | 05/15/2031 | 4,150,000.00 | 3,811,028.00 | 0.08 |
| 716964AA9 | PHH Escrow Issuer Llc/phh Corp | PHHESC | 9.88 | 11/01/2029 | 3,925,000.00 | 3,932,802.00 | 0.08 |
| 749571AK1 | RHP Hotel Properties Lp / Rhp Finance Co | RHP | 6.5 | 04/01/2032 | 3,745,000.00 | 3,826,018.00 | 0.08 |
| 682691AB6 | Onemain Finance Corp | OMF | 3.5 | 01/15/2027 | 4,195,000.00 | 4,093,330.00 | 0.08 |
| 682691AL4 | Onemain Finance Corp | OMF | 6.13 | 05/15/2030 | 3,835,000.00 | 3,843,373.00 | 0.08 |
| 682691AH3 | Onemain Finance Corp | OMF | 6.63 | 05/15/2029 | 3,950,000.00 | 4,033,618.00 | 0.08 |
| 70052LAD5 | PARK Intermediate Holdings Llc / Pk Dome | PK | 7.0 | 02/01/2030 | 4,040,000.00 | 4,139,944.00 | 0.08 |
| 045086AP0 | Ashton Woods Usa Llc / Ashton Woods Fina | ASHWOO | 4.63 | 04/01/2030 | 4,400,000.00 | 4,137,147.00 | 0.08 |
| 04624VAB5 | Assuredpartners Inc | ASSPAR | 5.63 | 01/15/2029 | 4,116,000.00 | 4,106,515.00 | 0.08 |
| 031921AB5 | Amwins Group Inc | AMWINS | 4.88 | 06/30/2029 | 4,150,000.00 | 4,029,080.00 | 0.08 |
| 00737WAA7 | Adtalem Global Education Inc | ATGE | 5.5 | 03/01/2028 | 4,078,000.00 | 4,028,502.00 | 0.08 |
| 097793AE3 | Civitas Resources Inc | CIVI | 5.0 | 10/15/2026 | 4,100,000.00 | 4,056,291.00 | 0.08 |
| 143658BN1 | Carnival Corp | CCL | 5.75 | 03/01/2027 | 4,105,000.00 | 4,147,815.00 | 0.08 |
| 15853BAA9 | Champion Iron Canada Inc | CIACN | 7.88 | 07/15/2032 | 4,045,000.00 | 4,129,742.00 | 0.08 |
| 17888HAC7 | Civitas Resources Inc | CIVI | 8.63 | 11/01/2030 | 3,850,000.00 | 3,930,638.00 | 0.08 |
| 384701AA6 | Graham Packaging Co Inc | GRMPAC | 7.13 | 08/15/2028 | 4,155,000.00 | 4,142,587.00 | 0.08 |
| 645370AF4 | NEW Home Co Inc/the | NWHM | 9.25 | 10/01/2029 | 3,975,000.00 | 4,124,790.00 | 0.08 |
| 47232MAG7 | Jefferies Finance Llc / Jfin Co-issuer C | JEFFIN | 6.63 | 10/15/2031 | 4,200,000.00 | 4,181,595.00 | 0.08 |
| 460599AD5 | Brightstar Lottery Plc | IGT | 6.25 | 01/15/2027 | 4,000,000.00 | 4,026,960.00 | 0.08 |
| 513272AD6 | LAMB Weston Holdings Inc | LW | 4.13 | 01/31/2030 | 4,425,000.00 | 4,204,706.00 | 0.08 |
| 552953CK5 | MGM Resorts International | MGM | 6.13 | 09/15/2029 | 4,000,000.00 | 4,058,391.00 | 0.08 |
| 553283AF9 | MPH Acquisition Holdings Llc | MLTPLN | 11.5 | 12/31/2030 | 4,139,160.00 | 4,087,559.00 | 0.08 |
| G2770C100 | Digicel Intl Fin Ltd Common Equity | — | — | — | 475,786.00 | 3,806,288.00 | 0.08 |
| 53219LAU3 | Lifepoint Health Inc | RGCARE | 5.38 | 01/15/2029 | 3,775,000.00 | 3,544,454.00 | 0.07 |
| 48666KAY5 | KB Home | KBH | 4.8 | 11/15/2029 | 3,785,000.00 | 3,691,928.00 | 0.07 |
| 38869AAB3 | Graphic Packaging International Llc | GPK | 3.5 | 03/15/2028 | 3,550,000.00 | 3,394,878.00 | 0.07 |
| 44267DAE7 | Howard Hughes Corp/the | HHH | 4.13 | 02/01/2029 | 3,624,000.00 | 3,457,594.00 | 0.07 |
| 428040DC0 | Hertz Corp/the | HTZ | 12.63 | 07/15/2029 | 3,100,000.00 | 3,240,356.00 | 0.07 |
| 31556TAA7 | Fertitta Entertainment Llc / Fertitta En | FRTITA | 4.63 | 01/15/2029 | 3,785,000.00 | 3,596,917.00 | 0.07 |
| 29362UAC8 | Entegris Inc | ENTG | 4.38 | 04/15/2028 | 3,725,000.00 | 3,626,190.00 | 0.07 |
| 29272WAC3 | Energizer Holdings Inc | ENR | 4.75 | 06/15/2028 | 3,328,000.00 | 3,238,818.00 | 0.07 |
| 28228PAC5 | EG Global Finance Plc | EGBLFN | 12.0 | 11/30/2028 | 3,300,000.00 | 3,642,375.00 | 0.07 |
| 18972EAD7 | Clydesdale Acquisition Holdings Inc | NOVHOL | 6.75 | 04/15/2032 | 3,350,000.00 | 3,429,601.00 | 0.07 |
| 23918KAT5 | Davita Inc | DVA | 3.75 | 02/15/2031 | 3,575,000.00 | 3,243,083.00 | 0.07 |
| 00653VAE1 | Adapthealth Llc | ADAHEA | 5.13 | 03/01/2030 | 3,680,000.00 | 3,459,414.00 | 0.07 |
| 00489LAM5 | Acrisure Llc / Acrisure Finance Inc | ACRISU | 8.5 | 06/15/2029 | 3,220,000.00 | 3,363,421.00 | 0.07 |
| 03690AAF3 | Antero Midstream Partners Lp / Antero Mi | AM | 5.75 | 01/15/2028 | 3,624,000.00 | 3,619,854.00 | 0.07 |
| 045086AK1 | Ashton Woods Usa Llc / Ashton Woods Fina | ASHWOO | 6.63 | 01/15/2028 | 3,260,000.00 | 3,277,347.00 | 0.07 |
| 05464CAC5 | AXON Enterprise Inc | AXON | 6.13 | 03/15/2030 | 3,520,000.00 | 3,601,623.00 | 0.07 |
| 682691AA8 | Onemain Finance Corp | OMF | 4.0 | 09/15/2030 | 4,075,000.00 | 3,727,915.00 | 0.07 |
| 681639AB6 | Olympus Water Us Holding Corp | SOLEIN | 6.25 | 10/01/2029 | 3,650,000.00 | 3,492,880.00 | 0.07 |
| 651229BG0 | Newell Brands Inc | NWL | 8.5 | 06/01/2028 | 3,180,000.00 | 3,335,858.00 | 0.07 |
| 780153BW1 | Royal Caribbean Cruises Ltd | RCL | 5.63 | 09/30/2031 | 3,665,000.00 | 3,691,939.00 | 0.07 |
| 903522AA8 | UWM Holdings Llc | UWMC | 6.63 | 02/01/2030 | 3,455,000.00 | 3,458,724.00 | 0.07 |
| 87470LAD3 | Tallgrass Energy Partners Lp / Tallgrass | TEP | 5.5 | 01/15/2028 | 3,765,000.00 | 3,734,626.00 | 0.07 |
| BL5042512 | Level 3 Financing Inc | LVLT | 8.58 | 03/29/2032 | 3,625,000.00 | 3,639,500.00 | 0.07 |
| BL4993855 | MPH Acquisition Holdings | MLTPLN | 8.03 | 12/31/2030 | 3,463,844.00 | 3,446,524.00 | 0.07 |
| BL4047090 | Tenneco Inc | TENINC | 9.17 | 11/17/2028 | 3,720,811.00 | 3,662,673.00 | 0.07 |
| BL4295970 | Viasat Inc | VSAT | 8.93 | 05/30/2030 | 2,885,316.00 | 2,828,331.00 | 0.06 |
| BL5147105 | CP Atlas Buyer Inc | AMBATH | 5.25 | 07/08/2030 | 3,300,000.00 | 3,135,000.00 | 0.06 |
| 95081QAQ7 | Wesco Distribution Inc | WCC | 6.38 | 03/15/2029 | 2,790,000.00 | 2,860,923.00 | 0.06 |
| 85236FAA1 | Smyrna Ready Mix Concrete Llc | SMYREA | 6.0 | 11/01/2028 | 3,135,000.00 | 3,125,128.00 | 0.06 |
| 91282CME8 | United States Treasury Note/bond | T | 4.25 | 12/31/2026 | 3,200,000.00 | 3,207,500.00 | 0.06 |
| 893830BX6 | Transocean Inc | RIG | 8.75 | 02/15/2030 | 3,040,000.00 | 3,142,752.00 | 0.06 |
| 670001AL0 | Novelis Corp | HNDLIN | 6.88 | 01/30/2030 | 3,055,000.00 | 3,145,814.00 | 0.06 |
| 097751BZ3 | Bombardier Inc | BBDBCN | 7.5 | 02/01/2029 | 2,995,000.00 | 3,109,259.00 | 0.06 |
| 095796AJ7 | BLUE Racer Midstream Llc / Blue Racer Fi | BLURAC | 7.0 | 07/15/2029 | 2,990,000.00 | 3,100,976.00 | 0.06 |
| 05480AAB1 | Azorra Finance Ltd | AZORRA | 7.25 | 01/15/2031 | 3,075,000.00 | 3,141,727.00 | 0.06 |
| 071734AD9 | Bausch Health Cos Inc | BHCCN | 7.0 | 01/15/2028 | 3,468,000.00 | 3,030,165.00 | 0.06 |
| 03881NAJ6 | Arbor Realty Sr Inc | ABR | 7.88 | 07/15/2030 | 3,090,000.00 | 3,155,647.00 | 0.06 |
| 031921AC3 | Amwins Group Inc | AMWINS | 6.38 | 02/15/2029 | 3,000,000.00 | 3,055,054.00 | 0.06 |
| 03690AAD8 | Antero Midstream Partners Lp / Antero Mi | AM | 5.75 | 03/01/2027 | 3,230,000.00 | 3,232,042.00 | 0.06 |
| 030981AP9 | Amerigas Partners Lp / Amerigas Finance | APU | 9.5 | 06/01/2030 | 3,050,000.00 | 3,202,334.00 | 0.06 |
| 00175PAC7 | AMN Healthcare Inc | AMN | 4.0 | 04/15/2029 | 3,220,000.00 | 2,957,591.00 | 0.06 |
| 00653VAC5 | Adapthealth Llc | ADAHEA | 4.63 | 08/01/2029 | 3,257,000.00 | 3,052,546.00 | 0.06 |
| 12543DBM1 | Chs/community Health Systems Inc | CYH | 5.25 | 05/15/2030 | 3,700,000.00 | 3,237,815.00 | 0.06 |
| 278768AC0 | Echostar Corp | SATS | 10.75 | 11/30/2029 | 2,800,000.00 | 2,950,457.00 | 0.06 |
| 21925AAQ8 | Cornerstone Chemical Co Llc | CRNRCH | 10.0 | 05/07/2029 | 3,268,406.00 | 3,104,985.00 | 0.06 |
| 35640YAK3 | Freedom Mortgage Corp | FREMOR | 12.0 | 10/01/2028 | 2,950,000.00 | 3,154,066.00 | 0.06 |
| 64438WAA5 | NEW Flyer Holdings Inc | NFICN | 9.25 | 07/01/2030 | 2,825,000.00 | 2,994,500.00 | 0.06 |
| XS27199989 | EG Global Finance Plc | EGBLFN | 11.0 | 11/30/2028 | 2,400,000.00 | 3,024,271.00 | 0.06 |
| 645370AG2 | NEW Home Co Inc/the | NWHM | 8.5 | 11/01/2030 | 2,555,000.00 | 2,610,373.00 | 0.05 |
| 63938CAJ7 | Navient Corp | NAVI | 6.75 | 06/15/2026 | 2,400,000.00 | 2,423,867.00 | 0.05 |
| 63861CAD1 | Nationstar Mortgage Holdings Inc | COOP | 5.13 | 12/15/2030 | 2,500,000.00 | 2,515,392.00 | 0.05 |
| 53219LAY5 | Lifepoint Health Inc | RGCARE | 8.38 | 02/15/2032 | 2,170,000.00 | 2,309,870.00 | 0.05 |
| 521088AC8 | LD Holdings Group Llc | LNDPT | 6.13 | 04/01/2028 | 2,925,000.00 | 2,507,486.00 | 0.05 |
| 428040DA4 | Hertz Corp/the | HTZ | 4.63 | 12/01/2026 | 2,485,000.00 | 2,247,292.00 | 0.05 |
| 431318AY0 | Hilcorp Energy I Lp / Hilcorp Finance Co | HILCRP | 6.0 | 04/15/2030 | 2,750,000.00 | 2,705,641.00 | 0.05 |
| 389375AN6 | GRAY Media Inc | GTN | 9.63 | 07/15/2032 | 2,600,000.00 | 2,625,163.00 | 0.05 |
| 103304BV2 | BOYD Gaming Corp | BYD | 4.75 | 06/15/2031 | 2,375,000.00 | 2,262,659.00 | 0.05 |
| 00489LAL7 | Acrisure Llc / Acrisure Finance Inc | ACRISU | 7.5 | 11/06/2030 | 2,585,000.00 | 2,670,257.00 | 0.05 |
| 78410GAG9 | SBA Communications Corp | SBAC | 3.13 | 02/01/2029 | 2,612,000.00 | 2,434,463.00 | 0.05 |
| 77340RAR8 | Rockies Express Pipeline Llc | ROCKIE | 4.95 | 07/15/2029 | 2,525,000.00 | 2,473,003.00 | 0.05 |
| 88642RAE9 | Tidewater Inc | TDW | 9.13 | 07/15/2030 | 2,200,000.00 | 2,306,752.00 | 0.05 |
| 91282CLY5 | United States Treasury Note/bond | T | 4.25 | 11/30/2026 | 2,580,000.00 | 2,584,837.00 | 0.05 |
| 78454LAX8 | SM Energy Co | SM | 6.75 | 08/01/2029 | 2,350,000.00 | 2,351,837.00 | 0.05 |
| 87470LAL5 | Tallgrass Energy Partners Lp / Tallgrass | TEP | 7.38 | 02/15/2029 | 2,670,000.00 | 2,738,271.00 | 0.05 |
| 85571BBD6 | Starwood Property Trust Inc | STWD | 6.5 | 07/01/2030 | 2,350,000.00 | 2,417,398.00 | 0.05 |
| 85571BBE4 | Starwood Property Trust Inc | STWD | 6.5 | 10/15/2030 | 2,555,000.00 | 2,628,396.00 | 0.05 |
| 963320BE5 | Whirlpool Corp | WHR | 6.5 | 06/15/2033 | 2,400,000.00 | 2,362,686.00 | 0.05 |
| 91889FAC5 | Valaris Ltd | VAL | 8.38 | 04/30/2030 | 2,200,000.00 | 2,277,000.00 | 0.05 |
| BL4990380 | Hilcorp Energy I Lp | HILCRP | 6.31 | 02/05/2030 | 2,518,688.00 | 2,520,261.00 | 0.05 |
| BL5042678 | Vista Management Holding | VSTJET | 8.04 | 03/18/2031 | 2,675,000.00 | 2,678,343.00 | 0.05 |
| BL4622694 | Lumen Technologies Inc | LUMN | 6.79 | 04/15/2030 | 2,354,001.00 | 2,337,816.00 | 0.05 |
| BL4799260 | Xplore Inc/nb | BARXPL | 9.59 | 10/24/2029 | 2,326,641.00 | 2,187,042.00 | 0.04 |
| B8ADQ6J27 | Doncasters Us Fin Llc | — | — | 04/01/2030 | 1,800,000.00 | 1,818,000.00 | 0.04 |
| BL4989184 | Quikrete Holdings Inc | QUIKHO | 6.58 | 02/10/2032 | 2,069,813.00 | 2,067,800.00 | 0.04 |
| BL4964328 | NCR Atleos Corp | NCRATL | 7.03 | 09/27/2028 | 2,102,866.00 | 2,068,694.00 | 0.04 |
| 92535UAB0 | Vertiv Group Corp | VRT | 4.13 | 11/15/2028 | 2,005,000.00 | 1,949,174.00 | 0.04 |
| 978097AG8 | Wolverine World Wide Inc | WWW | 4.0 | 08/15/2029 | 2,465,000.00 | 2,220,948.00 | 0.04 |
| 91327BAA8 | Uniti Group Lp / Uniti Group Finance 201 | UNIT | 6.5 | 02/15/2029 | 1,950,000.00 | 1,896,833.00 | 0.04 |
| B8AD64SP3 | Xplore Inc | — | — | — | 768,379.00 | 1,871,569.00 | 0.04 |
| BL3547827 | Asurion Llc | ASUCOR | 7.69 | 07/31/2027 | 1,986,813.00 | 1,985,984.00 | 0.04 |
| 96949VAN3 | Williams Scotsman Inc | WLSC | 6.63 | 04/15/2030 | 2,000,000.00 | 2,062,922.00 | 0.04 |
| 87265HAG4 | TRI Pointe Homes Inc | TPH | 5.7 | 06/15/2028 | 2,143,000.00 | 2,165,232.00 | 0.04 |
| 91282CLP4 | United States Treasury Note/bond | T | 3.5 | 09/30/2026 | 1,887,000.00 | 1,873,363.00 | 0.04 |
| 911365BM5 | United Rentals North America Inc | URI | 3.88 | 11/15/2027 | 1,858,000.00 | 1,811,390.00 | 0.04 |
| 880779BA0 | Terex Corp | TEX | 5.0 | 05/15/2029 | 2,000,000.00 | 1,952,163.00 | 0.04 |
| 810186AW6 | Scotts Miracle-gro Co/the | SMG | 4.38 | 02/01/2032 | 2,400,000.00 | 2,179,955.00 | 0.04 |
| 740212AL9 | Precision Drilling Corp | PDCN | 7.13 | 01/15/2026 | 2,056,000.00 | 2,047,981.00 | 0.04 |
| 68288AAA5 | 1261229 Bc Ltd | BHCCN | 10.0 | 04/15/2032 | 1,965,000.00 | 1,994,475.00 | 0.04 |
| 01741RAN2 | ATI Inc | ATI | 7.25 | 08/15/2030 | 1,761,000.00 | 1,841,150.00 | 0.04 |
| 023771T32 | American Airlines Inc | AAL | 7.25 | 02/15/2028 | 2,100,000.00 | 2,142,182.00 | 0.04 |
| 02154CAF0 | Altice Financing Sa | ALTICE | 5.0 | 01/15/2028 | 2,425,000.00 | 1,940,727.00 | 0.04 |
| 02154CAJ2 | Altice Financing Sa | ALTICE | 9.63 | 07/15/2027 | 2,150,000.00 | 1,974,302.00 | 0.04 |
| 071734AH0 | Bausch Health Cos Inc | BHCCN | 5.0 | 01/30/2028 | 2,150,000.00 | 1,795,250.00 | 0.04 |
| 071734AN7 | Bausch Health Cos Inc | BHCCN | 4.88 | 06/01/2028 | 2,484,000.00 | 2,198,340.00 | 0.04 |
| 071734AQ0 | Bausch Health Cos Inc | BHCCN | 11.0 | 09/30/2028 | 2,138,000.00 | 2,196,795.00 | 0.04 |
| 12597YAC3 | CP Atlas Buyer Inc | AMBATH | 9.75 | 07/15/2030 | 2,135,000.00 | 2,154,705.00 | 0.04 |
| 15089QAM6 | Celanese Us Holdings Llc | CE | 6.67 | 07/15/2027 | 2,040,000.00 | 2,092,875.00 | 0.04 |
| 380355AM9 | Goeasy Ltd | GSYCN | 6.88 | 05/15/2030 | 2,040,000.00 | 2,047,731.00 | 0.04 |
| 35908MAA8 | Frontier Communications Holdings Llc | FYBR | 5.88 | 11/01/2029 | 1,775,000.00 | 1,791,069.00 | 0.04 |
| 442722AB0 | Howard Midstream Energy Partners Llc | HOWMID | 8.88 | 07/15/2028 | 1,775,000.00 | 1,855,110.00 | 0.04 |
| 427056AU0 | Hercules Llc | ASH | 6.5 | 06/30/2029 | 2,005,000.00 | 2,007,418.00 | 0.04 |
| 345397E58 | FORD Motor Credit Co Llc | F | 5.8 | 03/08/2029 | 2,150,000.00 | 2,153,876.00 | 0.04 |
| 29365BAA1 | Entegris Inc | ENTG | 4.75 | 04/15/2029 | 1,900,000.00 | 1,860,767.00 | 0.04 |
| 55342UAQ7 | MPT Operating Partnership Lp / Mpt Finan | MPW | 8.5 | 02/15/2032 | 1,925,000.00 | 2,002,480.00 | 0.04 |
| 50168QAE5 | LABL Inc | LABL | 9.5 | 11/01/2028 | 2,075,000.00 | 1,920,094.00 | 0.04 |
| 50168QAF2 | LABL Inc | LABL | 8.63 | 10/01/2031 | 2,645,000.00 | 2,194,465.00 | 0.04 |
| 64828TAC6 | Rithm Capital Corp | RITM | 8.0 | 07/15/2030 | 2,060,000.00 | 2,098,213.00 | 0.04 |
| SWB8AE04ZD | Trswap: Iboxhy Index 09/22/2025 Mslsw_r | — | — | 09/22/2025 | 229,874.00 | 1,770,997.00 | 0.04 |
| FVU5 COMDT | US 5yr Note (cbt) Sep25 | FVU5 | — | 09/30/2025 | 667,095,953.00 | 1,713,344.00 | 0.03 |
| 629377CR1 | NRG Energy Inc | NRG | 3.63 | 02/15/2031 | 1,825,000.00 | 1,670,483.00 | 0.03 |
| 62886EBA5 | NCR Voyix Corp | VYX | 5.13 | 04/15/2029 | 1,577,000.00 | 1,545,514.00 | 0.03 |
| 445587AE8 | HUNT Cos Inc | HUNTCO | 5.25 | 04/15/2029 | 1,775,000.00 | 1,739,213.00 | 0.03 |
| 284902AF0 | Eldorado Gold Corp | ELDCN | 6.25 | 09/01/2029 | 1,550,000.00 | 1,544,745.00 | 0.03 |
| 105340AQ6 | Brandywine Operating Partnership Lp | BDN | 3.95 | 11/15/2027 | 1,625,000.00 | 1,566,805.00 | 0.03 |
| 103304BU4 | BOYD Gaming Corp | BYD | 4.75 | 12/01/2027 | 1,725,000.00 | 1,710,566.00 | 0.03 |
| 12008RAN7 | Builders Firstsource Inc | BLDR | 5.0 | 03/01/2030 | 1,490,000.00 | 1,459,857.00 | 0.03 |
| 1248EPBX0 | CCO Holdings Llc / Cco Holdings Capital | CHTR | 5.0 | 02/01/2028 | 1,725,000.00 | 1,693,404.00 | 0.03 |
| 12543DBH2 | Chs/community Health Systems Inc | CYH | 6.0 | 01/15/2029 | 1,725,000.00 | 1,642,129.00 | 0.03 |
| 22282EAJ1 | Reworld Holding Corp | CVA | 5.0 | 09/01/2030 | 1,365,000.00 | 1,295,610.00 | 0.03 |
| 21873SAC2 | Coreweave Inc | CRWV | 9.0 | 02/01/2031 | 1,250,000.00 | 1,247,803.00 | 0.03 |
| 185899AS0 | Cleveland-cliffs Inc | CLF | 7.5 | 09/15/2031 | 1,465,000.00 | 1,464,331.00 | 0.03 |
| 18064PAD1 | Clarivate Science Holdings Corp | CLVTSC | 4.88 | 07/01/2029 | 1,700,000.00 | 1,594,484.00 | 0.03 |
| 185899AP6 | Cleveland-cliffs Inc | CLF | 7.0 | 03/15/2032 | 1,495,000.00 | 1,458,098.00 | 0.03 |
| 097751BT7 | Bombardier Inc | BBDBCN | 7.88 | 04/15/2027 | 1,303,000.00 | 1,306,257.00 | 0.03 |
| 68622TAB7 | Organon & Co / Organon Foreign Debt Co-i | OGN | 5.13 | 04/30/2031 | 1,525,000.00 | 1,319,107.00 | 0.03 |
| 69331CAJ7 | PG&E Corp | PCG | 5.25 | 07/01/2030 | 1,475,000.00 | 1,413,072.00 | 0.03 |
| 812127AA6 | Sealed Air Corp/sealed Air Corp Us | SEE | 6.13 | 02/01/2028 | 1,275,000.00 | 1,287,211.00 | 0.03 |
| 78442PGF7 | SLM Corp | SLM | 6.5 | 01/31/2030 | 1,445,000.00 | 1,500,895.00 | 0.03 |
| 88033GDU1 | Tenet Healthcare Corp | THC | 6.75 | 05/15/2031 | 1,675,000.00 | 1,723,704.00 | 0.03 |
| 87724RAG7 | Taylor Morrison Communities Inc | TMHC | 6.63 | 07/15/2027 | 1,450,000.00 | 1,426,355.00 | 0.03 |
| 876511AG1 | Taseko Mines Ltd | TKOCN | 8.25 | 05/01/2030 | 1,545,000.00 | 1,612,593.00 | 0.03 |
| 86765LAN7 | Sunoco Lp / Sunoco Finance Corp | SUN | 5.88 | 03/15/2028 | 1,490,000.00 | 1,490,351.00 | 0.03 |
| 983793AK6 | XPO Inc | XPO | 7.13 | 02/01/2032 | 1,380,000.00 | 1,436,675.00 | 0.03 |
| B8ADGKST8 | NEW Generation Gas Gathering Llc | — | 4.34 | 09/30/2029 | 1,751,351.00 | 1,725,080.00 | 0.03 |
| B8ACXD562 | NEW Generation Gas Gathering Llc | — | 4.32 | 09/30/2029 | 1,459,459.00 | 1,437,567.00 | 0.03 |
| B8ADVAEX9 | NEW Generation Gas Gathering Llc | — | 4.34 | 09/30/2029 | 1,459,459.00 | 1,437,567.00 | 0.03 |
| 96949VAM5 | Williams Scotsman Inc | WLSC | 6.63 | 06/15/2029 | 1,300,000.00 | 1,333,343.00 | 0.03 |
| 92262TAA4 | Velocity Vehicle Group Llc | VLCYVG | 8.0 | 06/01/2029 | 1,615,000.00 | 1,636,367.00 | 0.03 |
| BL4979052 | Great Outdoors Group Llc | BASSPR | 7.58 | 01/23/2032 | 1,561,246.00 | 1,560,464.00 | 0.03 |
| BL4990463 | GFL Es Us Llc | GFLCN | 6.82 | 03/03/2032 | 1,325,000.00 | 1,325,000.00 | 0.03 |
| BP816Z6 | MPT Operating Partnership Lp / Mpt Finan | MPW | 0.99 | 10/15/2026 | 1,400,000.00 | 1,493,862.00 | 0.03 |
| BL4584548 | Assuredpartners Inc | ASSPAR | 7.83 | 02/14/2031 | 1,620,896.00 | 1,623,501.00 | 0.03 |
| BL4722254 | Likewize Corp | BSTA | 10.03 | 08/15/2029 | 1,315,625.00 | 1,279,445.00 | 0.03 |
| BL4874717 | Calpine Corp | CPN | 6.08 | 01/31/2031 | 1,370,000.00 | 1,369,401.00 | 0.03 |
| BL4755601 | Lifepoint Health Inc | RGCARE | 8.01 | 05/16/2031 | 1,069,625.00 | 1,064,722.00 | 0.02 |
| 91838PAA9 | VT Topco Inc | VERCOR | 8.5 | 08/15/2030 | 775,000.00 | 825,123.00 | 0.02 |
| 963320BD7 | Whirlpool Corp | WHR | 6.13 | 06/15/2030 | 1,055,000.00 | 1,052,523.00 | 0.02 |
| B8ADX0WW1 | Doncasters Us Finance Llc | — | 10.8 | 04/23/2030 | 1,197,000.00 | 1,208,970.00 | 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 |
| B8AC4A3C9 | Cornerstone Chem Co | — | — | — | 144,561.00 | 1,113,119.00 | 0.02 |
| B8AC5MQN3 | Diamond Sports Grp Llc- Cs | — | — | — | 87,655.00 | 1,176,067.00 | 0.02 |
| B8AC24CC5 | Heritage Power Llc | — | 9.8 | 07/20/2028 | 1,172,893.00 | 1,155,299.00 | 0.02 |
| 86765LAZ0 | Sunoco Lp / Sunoco Finance Corp | SUN | 4.5 | 04/30/2030 | 1,300,000.00 | 1,245,484.00 | 0.02 |
| 85571BBC8 | Starwood Property Trust Inc | STWD | 6.0 | 04/15/2030 | 775,000.00 | 782,832.00 | 0.02 |
| 911365BG8 | United Rentals North America Inc | URI | 4.88 | 01/15/2028 | 1,075,000.00 | 1,068,457.00 | 0.02 |
| 913229AA8 | United Wholesale Mortgage Llc | UWMLLC | 5.5 | 04/15/2029 | 1,260,000.00 | 1,233,021.00 | 0.02 |
| 913229AC4 | United Wholesale Mortgage Llc | UWMLLC | 5.75 | 06/15/2027 | 897,000.00 | 897,574.00 | 0.02 |
| 81721MAM1 | Diversified Healthcare Trust | DHC | 4.75 | 02/15/2028 | 1,225,000.00 | 1,135,368.00 | 0.02 |
| 75026JAH3 | Radiate Holdco Llc / Radiate Finance Inc | RADIAT | 9.25 | 03/25/2030 | 1,660,000.00 | 1,162,039.00 | 0.02 |
| 09629EAL5 | Bluemountain Fuji Us Clo Ii Ltd | BLUEM | 5.59 | 10/20/2030 | 1,215,567.00 | 1,216,649.00 | 0.02 |
| 07317QAJ4 | Baytex Energy Corp | BTECN | 8.5 | 04/30/2030 | 1,055,000.00 | 1,069,706.00 | 0.02 |
| 053773BG1 | AVIS Budget Car Rental Llc / Avis Budget | CAR | 4.75 | 04/01/2028 | 1,020,000.00 | 982,089.00 | 0.02 |
| 04288BAB6 | Arsenal Aic Parent Llc | ARNC | 8.0 | 10/01/2030 | 825,000.00 | 874,220.00 | 0.02 |
| 00253XAB7 | American Airlines Inc/aadvantage Loyalty | AAL | 5.75 | 04/20/2029 | 800,000.00 | 796,288.00 | 0.02 |
| 156431AS7 | Century Aluminum Co | CENX | 6.88 | 08/01/2032 | 755,000.00 | 762,514.00 | 0.02 |
| 11135RAA3 | Broadstreet Partners Inc | BROPAR | 5.88 | 04/15/2029 | 1,200,000.00 | 1,191,750.00 | 0.02 |
| 126307AY3 | CSC Holdings Llc | CSCHLD | 7.5 | 04/01/2028 | 1,238,000.00 | 1,001,632.00 | 0.02 |
| 35641AAC2 | Freedom Mortgage Holdings Llc | FREMOR | 8.38 | 04/01/2032 | 1,110,000.00 | 1,133,748.00 | 0.02 |
| 46593WAA3 | JH North America Holdings Inc | JHXAU | 5.88 | 01/31/2031 | 830,000.00 | 833,633.00 | 0.02 |
| 644535AJ5 | NEW Gold Inc | NGDCN | 6.88 | 04/01/2032 | 845,000.00 | 867,198.00 | 0.02 |
| L8176HAF7 | Intelsat Emergence Sa | — | — | — | 65,330.00 | 761,519.00 | 0.02 |
| O0EF5E2MKB | Eur/usd Fwd 20250902 57918 | EUR | — | 09/02/2025 | -25,430,014.00 | 787,472.00 | 0.02 |
| JRQCM0MFUI | Eur/usd Fwd 20250804 Mslngb2x | EUR | — | 08/04/2025 | -25,430,014.00 | 555,670.00 | 0.01 |
| PIQESL6KPR | Gbp/usd Fwd 20250804 5 | GBP | — | 08/04/2025 | -12,894,751.00 | 514,834.00 | 0.01 |
| 516806AJ5 | Vital Energy Inc | VTLE | 9.75 | 10/15/2030 | 650,000.00 | 610,827.00 | 0.01 |
| 527298BT9 | Level 3 Financing Inc | LVLT | 3.75 | 07/15/2029 | 710,000.00 | 595,078.00 | 0.01 |
| 345397C92 | FORD Motor Credit Co Llc | F | 6.8 | 05/12/2028 | 525,000.00 | 541,537.00 | 0.01 |
| 29272WAD1 | Energizer Holdings Inc | ENR | 4.38 | 03/31/2029 | 688,000.00 | 652,472.00 | 0.01 |
| 25470XBB0 | DISH Dbs Corp | DISH | 7.38 | 07/01/2028 | 725,000.00 | 556,330.00 | 0.01 |
| 25470XBD6 | DISH Dbs Corp | DISH | 5.13 | 06/01/2029 | 950,000.00 | 692,933.00 | 0.01 |
| 25525PAB3 | Diversified Healthcare Trust | DHC | 4.38 | 03/01/2031 | 675,000.00 | 563,699.00 | 0.01 |
| 431318BC7 | Hilcorp Energy I Lp / Hilcorp Finance Co | HILCRP | 8.38 | 11/01/2033 | 525,000.00 | 548,373.00 | 0.01 |
| 39807UAD8 | Greystar Real Estate Partners Llc | GRSTAR | 7.75 | 09/01/2030 | 550,000.00 | 582,240.00 | 0.01 |
| 109696AA2 | Brink's Co/the | BCO | 4.63 | 10/15/2027 | 661,000.00 | 651,598.00 | 0.01 |
| 18060TAD7 | Clarios Global Lp / Clarios Us Finance C | POWSOL | 6.75 | 02/15/2030 | 500,000.00 | 513,640.00 | 0.01 |
| 18972EAC9 | Clydesdale Acquisition Holdings Inc | NOVHOL | 6.88 | 01/15/2030 | 700,000.00 | 715,946.00 | 0.01 |
| 00191AAD8 | ARD Finance Sa | ARDFIN | 6.5 | 06/30/2027 | 3,436,205.00 | 253,420.00 | 0.01 |
| 00774CAB3 | AECOM | ACM | 5.13 | 03/15/2027 | 253,000.00 | 254,919.00 | 0.01 |
| 071734AL1 | Bausch Health Cos Inc | BHCCN | 5.25 | 02/15/2031 | 630,000.00 | 381,150.00 | 0.01 |
| 749571AJ4 | RHP Hotel Properties Lp / Rhp Finance Co | RHP | 7.25 | 07/15/2028 | 425,000.00 | 438,222.00 | 0.01 |
| 70932MAD9 | Pennymac Financial Services Inc | PFSI | 7.88 | 12/15/2029 | 617,000.00 | 651,069.00 | 0.01 |
| 893647BP1 | Transdigm Inc | TDG | 4.63 | 01/15/2029 | 568,000.00 | 555,244.00 | 0.01 |
| 829259BH2 | Sinclair Television Group Inc | SBGI | 8.13 | 02/15/2033 | 450,000.00 | 460,213.00 | 0.01 |
| 86765LAT4 | Sunoco Lp / Sunoco Finance Corp | SUN | 4.5 | 05/15/2029 | 750,000.00 | 725,596.00 | 0.01 |
| B8AC2XW47 | Heritage Pwr Llc | — | — | — | 6,933.00 | 452,090.00 | 0.01 |
| B8ACA1AA8 | Digicel Intl Fin Ltd | — | — | — | 31,025.00 | 368,499.00 | 0.01 |
| 98379KAB8 | XPO Inc | XPO | 7.13 | 06/01/2031 | 625,000.00 | 646,963.00 | 0.01 |
| B8AD38TW1 | NEW Generation Gas - Unfunded | — | — | 09/30/2029 | 729,730.00 | 718,783.00 | 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 |
| BL4938314 | MAIN Street Sports Group | DSPORT | 12.0 | 01/02/2028 | 603,246.00 | 524,824.00 | 0.01 |
| BL4843134 | Calpine Corp | CPN | 6.08 | 02/15/2032 | 376,750.00 | 376,619.00 | 0.01 |
| CD9T54TQNK | Gbp/usd Fwd 20250902 2568 | GBP | — | 09/02/2025 | -12,894,751.00 | 304,400.00 | 0.01 |
| BL4985638 | Cablevision Lightpath | CVLGHT | 7.31 | 11/30/2027 | 335,581.00 | 335,790.00 | 0.01 |
| BL5072683 | Foundation Building M | FBM | 9.55 | 01/29/2031 | 730,000.00 | 714,487.00 | 0.01 |
| DUU5 COMDT | Euro-schatz Fut Sep25 | DUU5 | — | 09/08/2025 | 366,496.00 | -1,217.00 | 0.00 |
| B8AD73HC5 | Xplornet - Contingent Value Rights | — | — | — | 41,149.00 | 4.00 | 0.00 |
| B8AD9KJQ2 | Diamond Sports Grp Llc- Warrants | — | — | — | 163,947.00 | 31,543.00 | 0.00 |
| B8AE1JR66 | Mitel Networks Intl Lt | — | — | — | 2,915.00 | 29.00 | 0.00 |
| B8AC2XW54 | Heritage Pwr Llc | — | — | — | 181,423.00 | 90,711.00 | 0.00 |
| 853191AC8 | Standard Building Solutions Inc | BMCAUS | 6.25 | 08/01/2033 | 235,000.00 | 237,226.00 | 0.00 |
| 707569AV1 | PENN Entertainment Inc | PENN | 4.13 | 07/01/2029 | 250,000.00 | 231,730.00 | 0.00 |
| 071734AM9 | Bausch Health Cos Inc | BHCCN | 5.0 | 02/15/2029 | 330,000.00 | 228,033.00 | 0.00 |
| 071734AK3 | Bausch Health Cos Inc | BHCCN | 6.25 | 02/15/2029 | 25,000.00 | 17,691.00 | 0.00 |
| 021ESCAG3 | ALTA Mesa Holdings Lp / Alta Mesa Financ | ALTMES | — | 12/15/2025 | 10,985,000.00 | 10.00 | 0.00 |
| 126307BB2 | CSC Holdings Llc | CSCHLD | 4.13 | 12/01/2030 | 200,000.00 | 134,365.00 | 0.00 |
| 126307BD8 | CSC Holdings Llc | CSCHLD | 4.63 | 12/01/2030 | 200,000.00 | 93,522.00 | 0.00 |
| 126307BF3 | CSC Holdings Llc | CSCHLD | 3.38 | 02/15/2031 | 200,000.00 | 131,662.00 | 0.00 |
| 12687GAB5 | Cablevision Lightpath Llc | CVLGHT | 5.63 | 09/15/2028 | 200,000.00 | 199,182.00 | 0.00 |
| 131347CQ7 | Calpine Corp | CPN | 5.0 | 02/01/2031 | 250,000.00 | 247,402.00 | 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 |
| 629571AB6 | Nabors Industries Ltd | NBR | 7.5 | 01/15/2028 | 70,000.00 | 64,429.00 | 0.00 |
| RXU5 COMDT | Euro-bund Future Sep25 | RXU5 | — | 09/08/2025 | -2,960,273.00 | 25,634.00 | 0.00 |
| SWB8ADHGQL | Trswap: Iboxig Index 12/20/2025 Mslsw_r | — | — | 12/20/2025 | -13,916.00 | -184,091.00 | 0.00 |
| L5217E120 | Intelsat Emergence Sa | — | — | — | 65,330.00 | 6.00 | 0.00 |
| OEU5 COMDT | Euro-bobl Future Sep25 | OEU5 | — | 09/08/2025 | 4,282,513.00 | -27,415.00 | 0.00 |
| USU5 COMDT | US Long Bond(cbt) Sep25 | USU5 | — | 09/19/2025 | 4,567,500.00 | 84,675.00 | 0.00 |
| WNU5 COMDT | US Ultra Bond Cbt Sep25 | WNU5 | — | 09/19/2025 | 8,798,438.00 | 234,017.00 | 0.00 |
| TYU5 COMDT | US 10yr Note (cbt)sep25 | TYU5 | — | 09/19/2025 | -42,203,750.00 | -405,028.00 | -0.01 |
| SWB8ADYKA9 | Trswap: Iboxig Index 12/22/2025 Mslsw_r | — | — | 12/22/2025 | -32,867.00 | -301,012.00 | -0.01 |
| SWB8ADHGPT | Trswap: Iboxig Index 09/20/2025 Mslsw_r | — | — | 09/20/2025 | -22,107.00 | -285,815.00 | -0.01 |
| 70FL1TMK7Q | Gbp/usd Fwd 20250804 2568 | GBP | — | 08/04/2025 | 12,894,751.00 | -304,430.00 | -0.01 |
| EDSCMBHTLO | Eur/usd Fwd 20250804 57918 | EUR | — | 08/04/2025 | 25,430,014.00 | -785,774.00 | -0.02 |
| TUU5 COMDT | US 2yr Note (cbt) Sep25 | TUU5 | — | 09/30/2025 | 314,202,283.00 | -855,342.00 | -0.02 |
| CURRENCY | Currency | — | — | — | -3,505,660.00 | -3,354,974.00 | -0.07 |
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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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