Form N-CSR/A CREDIT SUISSE ASSET MANA For: Dec 31
Fund & Benchmark |
Performance |
|||
Total Return (based on net asset value (“NAV”)) 1 |
4.96 | % | ||
Total Return (based on market value) 1 |
7.86 | % | ||
ICE BofA US High Yield Constrained Index 2 |
8.50 | % | ||
1 |
Assuming reinvestment of dividends |
2 |
The ICE BofA US High Yield Constrained Index (the “Index”) is an unmanaged index that tracks the performance of below investment-grade U.S. dollar-denominated corporate bonds issued in the U.S. domestic market, where each issuer’s allocation is limited to 2% of the Index. The Index does not have transaction costs and investors cannot invest directly in the Index. |
| John G. Popp | Omar Tariq | |
Chief Investment Officer* |
Chief Executive Officer and President** |
| * | John G. Popp is a Managing Director of UBS Asset Management (Americas) LLC (“UBS AM (Americas)”) and Group Head and Chief Investment Officer of Credit Investments Group (“CIG”), with primary responsibility for making investment decisions and monitoring processes for CIG’s global investment strategies. Mr. Popp also serves as Trustee of the Credit Suisse open-end funds, as well as serving as Director and Chief Investment Officer for the Credit Suisse Asset Management Income Fund, Inc. and Trustee and Chief Investment Officer of the Credit Suisse High Yield Credit Fund. |
| ** | Omar Tariq is an Executive Director of UBS AM (Americas). Mr. Tariq also serves as Chief Executive Officer and President of the Credit Suisse open-end funds, the Credit Suisse Asset Management Income Fund, Inc. and the Credit Suisse High Yield Credit Fund. |

1 |
Assuming reinvestment of distributions. |
2 |
The ICE BofA US High Yield Constrained Index (the “Index”) is an unmanaged index that tracks the performance of below investment-grade U.S. dollar-denominated corporate bonds issued in the U.S. domestic market, where each issuer’s allocation is limited to 2% of the Index. The Index does not have transaction costs and investors cannot invest directly in the Index. |
1 Year |
3 Years |
5 Years |
10 Years |
|||||||||||||
Net Asset Value (NAV) |
4.96% | 11.33% | 5.56% | 8.00% | ||||||||||||
Market Value |
7.86% | 14.20% | 7.23% | 9.52% | ||||||||||||
BBB |
3.0 | % | ||
BB |
36.6 | |||
B |
39.1 | |||
CCC |
13.0 | |||
D |
0.0 1 |
|||
NR |
5.5 | |||
Subtotal |
97.2 | |||
Equity and Other |
2.8 | |||
Total |
100.0 | % | ||
| * | Expressed as a percentage of total investments (excluding securities lending collateral, if applicable) and may vary over time. |
| ** | Credit Quality is based on ratings provided by the S&P Global Ratings Division of S&P Global Inc. (“S&P”). S&P is a main provider of ratings for credit assets classes and is widely used amongst industry participants. The NR category consists of securities that have not been rated by S&P. |
| 1 | This amount represents less than 0.1%. |
Par (000) |
Ratings† (S&P/Moody’s) |
Maturity |
Rate% |
Value |
||||||||||||||
CORPORATE BONDS |
||||||||||||||||||
Aerospace & Defense |
||||||||||||||||||
$ |
478 |
AAR Escrow Issuer LLC, Rule 144A, Company Guaranteed Notes (Callable 03/15/26 @ 103.38) (1) |
(BB, Ba2) |
03/15/29 |
6.750 |
$ |
494,859 |
|||||||||||
1,600 |
Amentum Holdings, Inc., Rule 144A, Company Guaranteed Notes (Callable 08/01/27 @ 103.63) (1) |
(B, B2) |
08/01/32 |
7.250 |
1,687,398 |
|||||||||||||
565 |
Bombardier, Inc., Rule 144A, Senior Unsecured Notes (Callable 06/15/28 @ 103.38) (1) |
(BB-, Ba3) |
06/15/33 |
6.750 |
597,974 |
|||||||||||||
391 |
Bombardier, Inc., Rule 144A, Senior Unsecured Notes (Callable 02/01/26 @ 103.75) (1) |
(BB-, Ba3) |
02/01/29 |
7.500 |
408,012 |
|||||||||||||
600 |
Bombardier, Inc., Rule 144A, Senior Unsecured Notes (Callable 11/15/26 @ 104.38) (1) |
(BB-, Ba3) |
11/15/30 |
8.750 |
649,057 |
|||||||||||||
552 |
CACI International, Inc., Rule 144A, Company Guaranteed Notes (Callable 06/15/28 @ 103.19) (1) |
(BB-, Ba2) |
06/15/33 |
6.375 |
571,833 |
|||||||||||||
469 |
Science Applications International Corp., Rule 144A, Company Guaranteed Notes (Callable 11/01/28 @ 102.94) (1) |
(BB-, Ba3) |
11/01/33 |
5.875 |
475,775 |
|||||||||||||
840 |
TransDigm, Inc., Rule 144A, Senior Secured Notes (Callable 03/01/26 @ 103.19) (1) |
(BB-, Ba3) |
03/01/29 |
6.375 |
867,316 |
|||||||||||||
440 |
TransDigm, Inc., Rule 144A, Senior Secured Notes (Callable 03/01/27 @ 103.31) (1) |
(BB-, Ba3) |
03/01/32 |
6.625 |
458,360 |
|||||||||||||
6,210,584 |
||||||||||||||||||
Auto Parts & Equipment |
||||||||||||||||||
286 |
Adient Global Holdings Ltd., Rule 144A, Senior Secured Notes (Callable 01/10/26 @ 103.50) (1) |
(BBB-, Ba2) |
04/15/28 |
7.000 |
294,982 |
|||||||||||||
362 |
Advance Auto Parts, Inc., Rule 144A, Company Guaranteed Notes (Callable 08/01/27 @ 103.50) (1) |
(BB, Ba3) |
08/01/30 |
7.000 |
365,366 |
|||||||||||||
410 |
Advance Auto Parts, Inc., Rule 144A, Company Guaranteed Notes (Callable 08/01/28 @ 103.69) (1),(2) |
(BB, Ba3) |
08/01/33 |
7.375 |
411,919 |
|||||||||||||
437 |
American Axle & Manufacturing, Inc., Rule 144A, Company Guaranteed Notes (Callable 10/15/28 @ 103.88) (1) |
(B+, B3) |
10/15/33 |
7.750 |
445,553 |
|||||||||||||
312 |
American Axle & Manufacturing, Inc., Rule 144A, Senior Secured Notes (Callable 10/15/28 @ 103.19) (1) |
(BB, Ba2) |
10/15/32 |
6.375 |
318,828 |
|||||||||||||
1,220 |
Clarios Global LP/Clarios U.S. Finance Co., Rule 144A, Company Guaranteed Notes (Callable 09/15/28 @ 103.38) (1) |
(B, Caa1) |
09/15/32 |
6.750 |
1,266,720 |
|||||||||||||
631 |
Cougar JV Subsidiary LLC, Rule 144A, Senior Unsecured Notes (Callable 05/15/27 @ 104.00) (1) |
(B+, B2) |
05/15/32 |
8.000 |
676,942 |
|||||||||||||
1,825 |
Dealer Tire LLC/DT Issuer LLC, Rule 144A, Senior Unsecured Notes (Callable 01/30/26 @ 100.00) (1) |
(CCC, Caa1) |
02/01/28 |
8.000 |
1,834,813 |
|||||||||||||
1,530 |
Garrett Motion Holdings, Inc./Garrett LX I SARL, Rule 144A, Company Guaranteed Notes (Callable 05/31/27 @ 103.88) (1) |
(B+, B1) |
05/31/32 |
7.750 |
1,627,260 |
|||||||||||||
1,222 |
Phinia, Inc., Rule 144A, Senior Secured Notes (Callable 04/15/26 @ 103.38) (1) |
(BB+, Baa3) |
04/15/29 |
6.750 |
1,266,858 |
|||||||||||||
8,509,241 |
||||||||||||||||||
Brokerage |
||||||||||||||||||
945 |
StoneX Group, Inc., Rule 144A, Secured Notes (Callable 03/01/27 @ 103.94) (1) |
(BB-, Ba3) |
03/01/31 |
7.875 |
1,007,604 |
|||||||||||||
Par (000) |
Ratings† (S&P/Moody’s) |
Maturity |
Rate% |
Value |
||||||||||||||
CORPORATE BONDS |
||||||||||||||||||
Building & Construction |
||||||||||||||||||
$ |
1,000 |
Installed Building Products, Inc., Rule 144A, Company Guaranteed Notes (Callable 01/15/26 @ 100.00) (1) |
(B+, Ba2) |
02/01/28 |
5.750 |
$ |
1,004,486 |
|||||||||||
1,442 |
MasTec, Inc., Rule 144A, Senior Unsecured Notes (Callable 01/10/26 @ 101.66) (1) |
(BBB-, NR) |
08/15/29 |
6.625 |
1,458,936 |
|||||||||||||
434 |
Quikrete Holdings, Inc., Rule 144A, Senior Secured Notes (Callable 03/01/28 @ 103.19) (1) |
(BB, Ba3) |
03/01/32 |
6.375 |
452,035 |
|||||||||||||
723 |
Quikrete Holdings, Inc., Rule 144A, Senior Unsecured Notes (Callable 03/01/28 @ 103.38) (1) |
(B+, B2) |
03/01/33 |
6.750 |
755,521 |
|||||||||||||
3,670,978 |
||||||||||||||||||
Building Materials |
||||||||||||||||||
377 |
Advanced Drainage Systems, Inc., Rule 144A, Company Guaranteed Notes (Callable 01/15/26 @ 103.19) (1) |
(BB-, Ba2) |
06/15/30 |
6.375 |
386,914 |
|||||||||||||
1,500 |
Arcosa, Inc., Rule 144A, Company Guaranteed Notes (Callable 08/15/27 @ 103.44) (1) |
(B+, Ba3) |
08/15/32 |
6.875 |
1,586,992 |
|||||||||||||
640 |
Builders FirstSource, Inc., Rule 144A, Company Guaranteed Notes (Callable 05/15/30 @ 103.38) (1) |
(BB-, Ba2) |
05/15/35 |
6.750 |
669,929 |
|||||||||||||
142 |
Camelot Return Merger Sub, Inc., Rule 144A, Senior Secured Notes (Callable 01/30/26 @ 103.28) (1),(2) |
(B-, Caa1) |
08/01/28 |
8.750 |
110,154 |
|||||||||||||
735 |
Cornerstone Building Brands, Inc., Rule 144A, Senior Secured Notes (Callable 08/15/26 @ 104.75) (1) |
(B-, Caa1) |
08/15/29 |
9.500 |
544,503 |
|||||||||||||
800 |
James Hardie International Finance DAC, Rule 144A, Company Guaranteed Notes (Callable 01/30/26 @ 100.00) (1) |
(BB, Ba1) |
01/15/28 |
5.000 |
800,718 |
|||||||||||||
532 |
Masterbrand, Inc., Rule 144A, Company Guaranteed Notes (Callable 07/15/27 @ 103.50) (1),(2) |
(BB, Ba3) |
07/15/32 |
7.000 |
551,853 |
|||||||||||||
1,287 |
Miter Brands Acquisition Holdco, Inc./MIWD Borrower LLC, Rule 144A, Senior Secured Notes (Callable 04/01/27 @ 103.38) (1) |
(BB-, B2) |
04/01/32 |
6.750 |
1,320,224 |
|||||||||||||
1,819 |
Oscar AcquisitionCo LLC/Oscar Finance, Inc., Rule 144A, Senior Unsecured Notes (Callable 01/30/26 @ 104.75) (1),(2) |
(CCC-, Caa3) |
04/15/30 |
9.500 |
823,622 |
|||||||||||||
687 |
White Cap Supply Holdings LLC, Rule 144A, Company Guaranteed Notes (Callable 11/15/26 @ 103.69) (1) |
(NR, Caa1) |
11/15/30 |
7.375 |
714,025 |
|||||||||||||
7,508,934 |
||||||||||||||||||
Cable & Satellite TV |
||||||||||||||||||
1,429 |
Altice France SA, Rule 144A, Senior Secured Notes (Callable 10/01/26 @ 101.00) (1) |
(CCC+, Caa1) |
10/15/31 |
6.500 |
1,358,405 |
|||||||||||||
154 |
Altice France SA, Rule 144A, Senior Secured Notes (Callable 10/01/26 @ 101.00) (1) |
(CCC+, Caa1) |
04/15/32 |
6.500 |
147,749 |
|||||||||||||
154 |
Altice France SA, Rule 144A, Senior Secured Notes (Callable 10/15/26 @ 100.00) (1) |
(CCC+, Caa1) |
07/15/32 |
6.875 |
147,798 |
|||||||||||||
331 |
CCO Holdings LLC / CCO Holdings Capital Corp., Rule 144A, Senior Unsecured Notes (Callable 01/30/26 @ 100.00) (1) |
(BB-, B1) |
05/01/27 |
5.125 |
330,737 |
|||||||||||||
800 |
Sunrise FinCo I BV, Rule 144A, Senior Secured Notes (Callable 07/15/26 @ 102.44) (1) |
(BB-, B1) |
07/15/31 |
4.875 |
762,640 |
|||||||||||||
200 |
Telenet Finance Luxembourg Notes SARL, Rule 144A, Senior Secured Notes (Callable 01/10/26 @ 100.00) (1) |
(BB-, B1) |
03/01/28 |
5.500 |
199,358 |
|||||||||||||
581 |
VZ Secured Financing B.V., Rule 144A, Senior Secured Notes (Callable 01/15/27 @ 102.50) (1) |
(B+, B1) |
01/15/32 |
5.000 |
528,289 |
|||||||||||||
3,474,976 |
||||||||||||||||||
Par (000) |
Ratings† (S&P/Moody’s) |
Maturity |
Rate% |
Value |
||||||||||||||
CORPORATE BONDS |
||||||||||||||||||
Chemicals |
||||||||||||||||||
$ |
477 |
Avient Corp., Rule 144A, Senior Unsecured Notes (Callable 01/30/26 @ 103.56) (1) |
(BB-, Ba3) |
08/01/30 |
7.125 |
$ |
492,788 |
|||||||||||
533 |
Avient Corp., Rule 144A, Senior Unsecured Notes (Callable 09/15/27 @ 103.13) (1) |
(BB-, Ba3) |
11/01/31 |
6.250 |
548,202 |
|||||||||||||
515 |
Element Solutions, Inc., Rule 144A, Company Guaranteed Notes (Callable 01/30/26 @ 100.00) (1) |
(BB, B1) |
09/01/28 |
3.875 |
503,720 |
|||||||||||||
800 |
Herens Midco SARL, Rule 144A, Company Guaranteed Notes (Callable 01/30/26 @ 101.31) (1),(3) |
(CCC, Caa2) |
05/15/29 |
5.250 |
532,895 |
|||||||||||||
607 |
Methanex U.S. Operations, Inc., Rule 144A, Company Guaranteed Notes (Callable 09/15/31 @ 100.00) (1) |
(BB, Ba2) |
03/15/32 |
6.250 |
625,390 |
|||||||||||||
1,600 |
Tronox, Inc., Rule 144A, Company Guaranteed Notes (Callable 01/30/26 @ 101.16) (1),(2) |
(CCC+, Caa1) |
03/15/29 |
4.625 |
1,121,466 |
|||||||||||||
178 |
Tronox, Inc., Rule 144A, Senior Secured Notes (Callable 09/30/27 @ 104.56) (1),(2) |
(B, B1) |
09/30/30 |
9.125 |
177,867 |
|||||||||||||
1,915 |
Vibrantz Technologies, Inc., Rule 144A, Senior Unsecured Notes (Callable 01/30/26 @ 104.50) (1) |
(CCC, Caa3) |
02/15/30 |
9.000 |
655,023 |
|||||||||||||
690 |
WR Grace Holdings LLC, Rule 144A, Senior Secured Notes (Callable 03/01/26 @ 103.69) (1) |
(B-, B2) |
03/01/31 |
7.375 |
709,189 |
|||||||||||||
5,366,540 |
||||||||||||||||||
Diversified Capital Goods |
||||||||||||||||||
762 |
Atkore, Inc., Rule 144A, Company Guaranteed Notes (Callable 06/01/26 @ 102.13) (1) |
(BB+, Ba2) |
06/01/31 |
4.250 |
732,177 |
|||||||||||||
1,400 |
Dornoch Debt Merger Sub, Inc., Rule 144A, Senior Unsecured Notes (Callable 01/30/26 @ 101.66) (1),(2) |
(CCC, Caa2) |
10/15/29 |
6.625 |
1,213,776 |
|||||||||||||
600 |
EnerSys, Rule 144A, Company Guaranteed Notes (Callable 09/15/27 @ 100.00) (1) |
(BB+, Ba3) |
12/15/27 |
4.375 |
598,347 |
|||||||||||||
500 |
EnerSys, Rule 144A, Company Guaranteed Notes (Callable 01/15/27 @ 103.31) (1) |
(BB+, Ba3) |
01/15/32 |
6.625 |
520,884 |
|||||||||||||
916 |
Maxam Prill SARL, Rule 144A, Senior Secured Notes (Callable 07/02/27 @ 103.88) (1) |
(B+, NR) |
07/15/30 |
7.750 |
951,694 |
|||||||||||||
4,016,878 |
||||||||||||||||||
Electronics |
||||||||||||||||||
1,015 |
Ellucian Holdings, Inc., Rule 144A, Senior Secured Notes (Callable 12/01/26 @ 103.25) (1) |
(B-, B2) |
12/01/29 |
6.500 |
1,037,483 |
|||||||||||||
586 |
Imola Merger Corp., Rule 144A, Senior Secured Notes (Callable 01/30/26 @ 101.19) (1) |
(BB, Ba3) |
05/15/29 |
4.750 |
578,886 |
|||||||||||||
950 |
Sensata Technologies, Inc., Rule 144A, Company Guaranteed Notes (Callable 07/15/27 @ 103.31) (1) |
(BB+, Ba2) |
07/15/32 |
6.625 |
995,502 |
|||||||||||||
2,611,871 |
||||||||||||||||||
Energy - Exploration & Production |
||||||||||||||||||
425 |
Civitas Resources, Inc., Rule 144A, Company Guaranteed Notes (Callable 01/10/26 @ 104.19) (1) |
(BB-, B1) |
07/01/28 |
8.375 |
438,427 |
|||||||||||||
879 |
Civitas Resources, Inc., Rule 144A, Company Guaranteed Notes (Callable 07/01/26 @ 104.38) (1),(2) |
(BB-, B1) |
07/01/31 |
8.750 |
912,975 |
|||||||||||||
Par (000) |
Ratings† (S&P/Moody’s) |
Maturity |
Rate% |
Value |
||||||||||||||
CORPORATE BONDS |
||||||||||||||||||
Energy - Exploration & Production |
||||||||||||||||||
$ |
1,477 |
CNX Midstream Partners LP, Rule 144A, Company Guaranteed Notes (Callable 01/30/26 @ 102.38) (1) |
(BB, B1) |
04/15/30 |
4.750 |
$ |
1,439,620 |
|||||||||||
450 |
CNX Resources Corp., Rule 144A, Company Guaranteed Notes (Callable 03/01/27 @ 103.63) (1) |
(BB, B1) |
03/01/32 |
7.250 |
471,597 |
|||||||||||||
2,050 |
CQP Holdco LP/BIP-V Chinook Holdco LLC, Rule 144A, Senior Secured Notes (Callable 12/15/28 @ 103.75)(1) |
(BB, Ba2) |
12/15/33 |
7.500 |
2,205,476 |
|||||||||||||
203 |
Excelerate Energy LP, Rule 144A, Company Guaranteed Notes (Callable 05/15/27 @ 104.00) (1) |
(BB+, NR) |
05/15/30 |
8.000 |
215,261 |
|||||||||||||
626 |
Matador Resources Co., Rule 144A, Company Guaranteed Notes (Callable 04/15/27 @ 103.25) (1) |
(BB-, B1) |
04/15/32 |
6.500 |
635,274 |
|||||||||||||
775 |
Northern Oil & Gas, Inc., Rule 144A, Senior Unsecured Notes (Callable 10/15/28 @ 103.94) (1) |
(B+, B1) |
10/15/33 |
7.875 |
755,068 |
|||||||||||||
294 |
Northern Oil & Gas, Inc., Rule 144A, Senior Unsecured Notes (Callable 06/15/26 @ 104.38) (1) |
(B+, B1) |
06/15/31 |
8.750 |
297,159 |
|||||||||||||
720 |
TGNR Intermediate Holdings LLC, Rule 144A, Senior Unsecured Notes (Callable 01/30/26 @ 101.38) (1) |
(B+, B3) |
10/15/29 |
5.500 |
715,489 |
|||||||||||||
8,086,346 |
||||||||||||||||||
Environmental |
||||||||||||||||||
223 |
Clean Harbors, Inc., Rule 144A, Company Guaranteed Notes (Callable 02/01/26 @ 103.19) (1) |
(BB+, Ba2) |
02/01/31 |
6.375 |
229,882 |
|||||||||||||
340 |
Luna 1.5 SARL, Rule 144A, Senior Unsecured Notes (Callable 07/01/28 @ 106.00) (1) |
(B-, B3) |
07/01/32 |
12.000 |
357,422 |
|||||||||||||
391 |
Waste Pro U.S.A., Inc., Rule 144A, Senior Unsecured Notes (Callable 02/01/28 @ 103.50) (1) |
(B-, Caa1) |
02/01/33 |
7.000 |
403,604 |
|||||||||||||
990,908 |
||||||||||||||||||
Food - Wholesale |
||||||||||||||||||
500 |
Darling Ingredients, Inc., Rule 144A, Company Guaranteed Notes (Callable 01/10/26 @ 100.00) (1) |
(BB+, Ba2) |
04/15/27 |
5.250 |
501,345 |
|||||||||||||
1,133 |
Darling Ingredients, Inc., Rule 144A, Company Guaranteed Notes (Callable 01/10/26 @ 103.00) (1) |
(BB+, Ba2) |
06/15/30 |
6.000 |
1,152,274 |
|||||||||||||
885 |
Performance Food Group, Inc., Rule 144A, Company Guaranteed Notes (Callable 09/15/27 @ 103.06) (1) |
(BB, B1) |
09/15/32 |
6.125 |
913,476 |
|||||||||||||
394 |
Post Holdings, Inc., Rule 144A, Company Guaranteed Notes (Callable 03/15/31 @ 103.25) (1) |
(B+, B2) |
03/15/36 |
6.500 |
394,905 |
|||||||||||||
2,962,000 |
||||||||||||||||||
Gaming |
||||||||||||||||||
1,032 |
Caesars Entertainment, Inc., Rule 144A, Senior Secured Notes (Callable 02/15/26 @ 103.50) (1) |
(BB-, Ba3) |
02/15/30 |
7.000 |
1,069,283 |
|||||||||||||
218 |
Caesars Entertainment, Inc., Rule 144A, Senior Secured Notes (Callable 02/15/27 @ 103.25) (1) |
(BB-, Ba3) |
02/15/32 |
6.500 |
223,398 |
|||||||||||||
969 |
Light & Wonder International, Inc., Rule 144A, Company Guaranteed Notes (Callable 10/01/28 @ 103.13) (1) |
(B+, B2) |
10/01/33 |
6.250 |
981,161 |
|||||||||||||
1,737 |
Voyager Parent LLC, Rule 144A, Senior Secured Notes (Callable 07/01/28 @ 104.63) (1) |
(B, B1) |
07/01/32 |
9.250 |
1,844,083 |
|||||||||||||
1,500 |
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., Rule 144A, Company Guaranteed Notes (Callable 02/15/27 @ 100.00) (1) |
(BB-, B1) |
05/15/27 |
5.250 |
1,506,430 |
|||||||||||||
5,624,355 |
||||||||||||||||||
Par (000) |
Ratings† (S&P/Moody’s) |
Maturity |
Rate% |
Value |
||||||||||||||
CORPORATE BONDS |
||||||||||||||||||
Gas Distribution |
||||||||||||||||||
$ |
113 |
Antero Midstream Partners LP/Antero Midstream Finance Corp., Rule 144A, Senior Unsecured Notes (Callable 10/15/28 @ 102.88) (1) |
(BB+, Ba2) |
10/15/33 |
5.750 |
$ |
113,743 |
|||||||||||
272 |
Blue Racer Midstream LLC/Blue Racer Finance Corp., Rule 144A, Senior Unsecured Notes (Callable 01/30/26 @ 100.00) (1) |
(B+, B2) |
07/15/26 |
6.625 |
273,264 |
|||||||||||||
200 |
Blue Racer Midstream LLC/Blue Racer Finance Corp., Rule 144A, Senior Unsecured Notes (Callable 07/15/27 @ 103.63) (1) |
(B+, B2) |
07/15/32 |
7.250 |
212,374 |
|||||||||||||
286 |
Genesis Energy LP/Genesis Energy Finance Corp., Global Company Guaranteed Notes (Callable 04/15/26 @ 104.44) |
(B, B3) |
04/15/30 |
8.875 |
301,892 |
|||||||||||||
400 |
Hess Midstream Operations LP, Rule 144A, Company Guaranteed Notes (Callable 03/01/26 @ 102.94) (1) |
(BBB-, Ba1) |
03/01/28 |
5.875 |
408,514 |
|||||||||||||
373 |
Kinetik Holdings LP Rule 144A, Company Guaranteed Notes (Callable 01/30/26 @ 102.94) (1) |
(BB+, Ba1) |
06/15/30 |
5.875 |
376,522 |
|||||||||||||
692 |
Rockies Express Pipeline LLC, Rule 144A, Senior Unsecured Notes (Callable 03/15/28 @ 103.38) (1) |
(BB, Ba2) |
03/15/33 |
6.750 |
731,147 |
|||||||||||||
210 |
Rockies Express Pipeline LLC, Rule 144A, Senior Unsecured Notes (Callable 02/15/30 @ 100.00) (1) |
(BB, Ba2) |
05/15/30 |
4.800 |
207,408 |
|||||||||||||
600 |
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., Rule 144A, Company Guaranteed Notes (Callable 01/30/26 @ 103.00) (1) |
(B+, B1) |
12/31/30 |
6.000 |
605,197 |
|||||||||||||
1,300 |
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., Rule 144A, Senior Unsecured Notes (Callable 02/15/26 @ 103.69) (1) |
(B+, B1) |
02/15/29 |
7.375 |
1,349,635 |
|||||||||||||
4,579,696 |
||||||||||||||||||
Health Facilities |
||||||||||||||||||
364 |
Insulet Corp., Rule 144A, Senior Unsecured Notes (Callable 04/01/28 @ 103.25) (1) |
(B+, B2) |
04/01/33 |
6.500 |
380,820 |
|||||||||||||
263 |
Surgery Center Holdings, Inc., Rule 144A, Company Guaranteed Notes (Callable 04/15/27 @ 103.63) (1) |
(CCC+, Caa1) |
04/15/32 |
7.250 |
266,663 |
|||||||||||||
292 |
Tenet Healthcare Corp., Rule 144A, Senior Secured Notes (Callable 11/15/28 @ 102.75) (1) |
(BB, Ba3) |
11/15/32 |
5.500 |
296,177 |
|||||||||||||
117 |
Tenet Healthcare Corp., Rule 144A, Senior Unsecured Notes (Callable 11/15/28 @ 103.00) (1) |
(B, B2) |
11/15/33 |
6.000 |
120,536 |
|||||||||||||
1,064,196 |
||||||||||||||||||
Health Services |
||||||||||||||||||
1,742 |
AMN Healthcare, Inc., Rule 144A, Company Guaranteed Notes (Callable 10/15/27 @ 103.25) (1) |
(BB-, B1) |
01/15/31 |
6.500 |
1,743,685 |
|||||||||||||
2,471 |
AthenaHealth Group, Inc., Rule 144A, Senior Unsecured Notes (Callable 01/30/26 @ 103.25) (1) |
(CCC, Caa2) |
02/15/30 |
6.500 |
2,465,664 |
|||||||||||||
1,046 |
Pediatrix Medical Group, Inc., Rule 144A, Company Guaranteed Notes (Callable 01/30/26 @ 102.69) (1) |
(BB, Ba3) |
02/15/30 |
5.375 |
1,046,953 |
|||||||||||||
Hotels |
5,256,302 |
|||||||||||||||||
330 |
Hilton Domestic Operating Co., Inc., Rule 144A, Company Guaranteed Notes (Callable 07/01/28 @ 102.88) (1) |
(BB+, Ba2) |
09/15/33 |
5.750 |
337,894 |
|||||||||||||
30 |
Hilton Domestic Operating Co., Inc., Rule 144A, Company Guaranteed Notes (Callable 04/01/26 @ 102.94) (1) |
(BB+, Ba2) |
04/01/29 |
5.875 |
30,779 |
|||||||||||||
1,063 |
RHP Hotel Properties LP/RHP Finance Corp., Rule 144A, Company Guaranteed Notes (Callable 06/15/28 @ 103.25) (1) |
(BB, Ba3) |
06/15/33 |
6.500 |
1,109,274 |
|||||||||||||
181 |
RHP Hotel Properties LP/RHP Finance Corp., Rule 144A, Company Guaranteed Notes (Callable 04/01/27 @ 103.25) (1) |
(BB, Ba3) |
04/01/32 |
6.500 |
187,836 |
|||||||||||||
1,665,783 |
||||||||||||||||||
Par (000) |
Ratings† (S&P/Moody’s) |
Maturity |
Rate% |
Value |
||||||||||||||
CORPORATE BONDS |
||||||||||||||||||
Insurance Brokerage |
||||||||||||||||||
$ |
1,069 |
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, Rule 144A, Senior Secured Notes (Callable 01/30/26 @ 103.38)(1) |
(B, B2) |
04/15/28 |
6.750 |
$ |
1,093,271 |
|||||||||||
333 |
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, Rule 144A, Senior Secured Notes (Callable 10/01/27 @ 103.69)(1) |
(B, B2) |
10/01/31 |
6.500 |
343,801 |
|||||||||||||
400 |
AmWINS Group, Inc., Rule 144A, Senior Secured Notes (Callable 02/15/26 @ 103.19) (1) |
(B+, B1) |
02/15/29 |
6.375 |
411,542 |
|||||||||||||
513 |
Ardonagh Group Finance Ltd., Rule 144A, Senior Unsecured Notes (Callable 02/15/27 @ 104.44) (1) |
(CCC, Caa2) |
02/15/32 |
8.875 |
535,236 |
|||||||||||||
1,675 |
Howden U.K. Refinance PLC/Howden U.K. Refinance 2 PLC/Howden U.S. Refinance LLC, Rule 144A, Senior Secured Notes (Callable 02/15/27 @ 103.63) (1) |
(B, B2) |
02/15/31 |
7.250 |
1,725,994 |
|||||||||||||
800 |
HUB International Ltd., Rule 144A, Senior Secured Notes (Callable 06/15/26 @ 103.63) (1) |
(B+, B1) |
06/15/30 |
7.250 |
840,384 |
|||||||||||||
1,000 |
Jones Deslauriers Insurance Management, Inc., Rule 144A, Senior Secured Notes (Callable 03/15/26 @ 104.25) (1) |
(B-, B2) |
03/15/30 |
8.500 |
1,048,577 |
|||||||||||||
942 |
Jones Deslauriers Insurance Management, Inc., Rule 144A, Senior Unsecured Notes (Callable 10/01/28 @ 103.44) (1) |
(CCC, Caa2) |
10/01/33 |
6.875 |
910,319 |
|||||||||||||
1,290 |
Panther Escrow Issuer LLC, Rule 144A, Senior Secured Notes (Callable 06/01/27 @ 103.56) (1) |
(B, B2) |
06/01/31 |
7.125 |
1,337,573 |
|||||||||||||
8,246,697 |
||||||||||||||||||
Investments & Misc. Financial Services |
||||||||||||||||||
2,100 |
Armor Holdco, Inc., Rule 144A, Company Guaranteed Notes (Callable 01/30/26 @ 102.13) (1) |
(CCC+, B3) |
11/15/29 |
8.500 |
2,124,921 |
|||||||||||||
600 |
Block, Inc., Global Senior Unsecured Notes (Callable 05/15/27 @ 103.25) |
(BB+, Ba1) |
05/15/32 |
6.500 |
624,387 |
|||||||||||||
106 |
Block, Inc., Rule 144A, Senior Unsecured Notes (Callable 08/15/27 @ 102.81) (1) |
(BB+, Ba1) |
08/15/30 |
5.625 |
108,214 |
|||||||||||||
30 |
Block, Inc., Rule 144A, Senior Unsecured Notes (Callable 08/15/28 @ 103.00) (1) |
(BB+, Ba1) |
08/15/33 |
6.000 |
30,816 |
|||||||||||||
3,125 |
Boost Newco Borrower LLC, Rule 144A, Senior Secured Notes (Callable 01/15/27 @ 103.75) (1) |
(BB, Ba3) |
01/15/31 |
7.500 |
3,322,906 |
|||||||||||||
1,029 |
Compass Group Diversified Holdings LLC, Rule 144A, Company Guaranteed Notes (Callable 01/15/26 @ 101.31) (1),(2) |
(B-, B3) |
04/15/29 |
5.250 |
955,654 |
|||||||||||||
868 |
Focus Financial Partners LLC, Rule 144A, Senior Secured Notes (Callable 09/15/27 @ 103.38) (1) |
(B, B2) |
09/15/31 |
6.750 |
894,244 |
|||||||||||||
1,309 |
Paysafe Finance PLC/Paysafe Holdings U.S. Corp., Rule 144A, Senior Secured Notes (Callable 01/30/26 @ 101.00) (1) |
(B, B2) |
06/15/29 |
4.000 |
1,205,385 |
|||||||||||||
1,389 |
Stonex Escrow Issuer LLC, Rule 144A, Secured Notes (Callable 07/15/28 @ 103.44) (1) |
(BB-, Ba3) |
07/15/32 |
6.875 |
1,440,570 |
|||||||||||||
1,680 |
VFH Parent LLC/Valor Co-Issuer, Inc., Rule 144A, Senior Secured Notes(Callable 06/15/27 @ 103.75) (1) |
(B+, B1) |
06/15/31 |
7.500 |
1,763,825 |
|||||||||||||
858 |
Walker & Dunlop, Inc., Rule 144A, Company Guaranteed Notes (Callable 04/01/28 @ 103.31) (1) |
(BB, Ba2) |
04/01/33 |
6.625 |
884,124 |
|||||||||||||
13,355,046 |
||||||||||||||||||
Par (000) |
Ratings† (S&P/Moody’s) |
Maturity |
Rate% |
Value |
||||||||||||||
CORPORATE BONDS |
||||||||||||||||||
Machinery |
||||||||||||||||||
$ |
815 |
Chart Industries, Inc., Rule 144A, Senior Secured Notes (Callable 01/30/26 @ 103.75) (1) |
(BB-, Ba2) |
01/01/30 |
7.500 |
$ |
850,449 |
|||||||||||
1,732 |
Enpro, Inc., Rule 144A, Company Guaranteed Notes (Callable 06/01/28 @ 103.06) (1) |
(BB-, Ba3) |
06/01/33 |
6.125 |
1,791,451 |
|||||||||||||
1,992 |
Enviri Corp., Rule 144A, Company Guaranteed Notes (Callable 01/30/26 @ 100.00) (1) |
(B, B3) |
07/31/27 |
5.750 |
1,994,617 |
|||||||||||||
425 |
Goat Holdco LLC, Rule 144A, Senior Secured Notes (Callable 02/01/28 @ 103.38) (1) |
(B, B2) |
02/01/32 |
6.750 |
435,955 |
|||||||||||||
575 |
Griffon Corp., Global Company Guaranteed Notes (Callable 01/30/26 @ 100.96) |
(B+, B1) |
03/01/28 |
5.750 |
576,470 |
|||||||||||||
800 |
Hillenbrand, Inc., Global Company Guaranteed Notes (Callable 02/15/26 @ 103.13) (2) |
(BB, Ba1) |
02/15/29 |
6.250 |
819,197 |
|||||||||||||
151 |
Regal Rexnord Corp., Global Company Guaranteed Notes (Callable 01/15/33 @ 100.00) |
(BB+, Baa3) |
04/15/33 |
6.400 |
162,722 |
|||||||||||||
141 |
Synergy Infrastructure Holdings LLC, Rule 144A, Secured Notes (Callable 12/01/27 @ 103.94) (1) |
(B, B3) |
12/01/30 |
7.875 |
146,530 |
|||||||||||||
6,777,391 |
||||||||||||||||||
Media - Diversified |
||||||||||||||||||
28 |
Tech 7 SAS Super Senior (3),(5),(6),(7),(8) |
(NR, NR) |
03/31/26 |
0.000 |
3 |
|||||||||||||
46 |
Tech 7 SAS Super Senior (3),(5),(6),(7),(8) |
(NR, NR) |
03/31/26 |
0.000 |
5 |
|||||||||||||
14 |
Tech 7 SAS Technicolor Creative Studios Super Senior (3),(5),(6),(7),(8) |
(NR, NR) |
03/01/26 |
0.000 |
2 |
|||||||||||||
14 |
Technicolor Creative Studios SA (3),(5),(6),(7),(8) |
(NR, NR) |
04/01/26 |
0.000 |
2 |
|||||||||||||
12 |
||||||||||||||||||
Media Content |
||||||||||||||||||
400 |
Sirius XM Radio LLC, Rule 144A, Company Guaranteed Notes (Callable 09/01/26 @ 101.94) (1),(2) |
(BB+, Ba3) |
09/01/31 |
3.875 |
368,473 |
|||||||||||||
Metals & Mining - Excluding Steel |
||||||||||||||||||
689 |
Capstone Copper Corp., Rule 144A, Company Guaranteed Notes (Callable 03/31/28 @ 103.38) (1) |
(BB-, B1) |
03/31/33 |
6.750 |
715,600 |
|||||||||||||
1,306 |
Constellium SE, Rule 144A, Company Guaranteed Notes (Callable 08/15/27 @ 103.19) (1) |
(BB-, Ba3) |
08/15/32 |
6.375 |
1,354,322 |
|||||||||||||
1,800 |
ERO Copper Corp., Rule 144A, Company Guaranteed Notes (Callable 01/30/26 @ 103.25) (1) |
(B+, B1) |
02/15/30 |
6.500 |
1,803,372 |
|||||||||||||
200 |
First Quantum Minerals Ltd., Rule 144A, Company Guaranteed Notes (Callable 02/15/29 @ 103.63) (1) |
(B, NR) |
02/15/34 |
7.250 |
210,422 |
|||||||||||||
2,120 |
First Quantum Minerals Ltd., Rule 144A, Secured Notes (Callable 03/01/26 @ 104.69) (1) |
(B, NR) |
03/01/29 |
9.375 |
2,235,039 |
|||||||||||||
800 |
Kaiser Aluminum Corp., Rule 144A, Company Guaranteed Notes (Callable 06/01/26 @ 102.25) (1),(2) |
(BB-, B2) |
06/01/31 |
4.500 |
776,135 |
|||||||||||||
206 |
Kaiser Aluminum Corp., Rule 144A, Senior Unsecured Notes (Callable 03/01/29 @ 102.94) (1) |
(BB-, B2) |
03/01/34 |
5.875 |
206,863 |
|||||||||||||
348 |
Novelis Corp., Rule 144A, Company Guaranteed Notes (Callable 08/15/28 @ 103.19) (1) |
(BB, B1) |
08/15/33 |
6.375 |
353,071 |
|||||||||||||
7,654,824 |
||||||||||||||||||
Par (000) |
Ratings† (S&P/Moody’s) |
Maturity |
Rate% |
Value |
||||||||||||||
CORPORATE BONDS |
||||||||||||||||||
Oil Field Equipment & Services |
||||||||||||||||||
$ |
225 |
USA Compression Partners LP/USA Compression Finance Corp., Rule 144A, Company Guaranteed Notes (Callable 10/01/28 @ 103.13) (1) |
(B+, B1) |
10/01/33 |
6.250 |
$ |
227,854 |
|||||||||||
Oil Refining & Marketing |
||||||||||||||||||
1,166 |
Global Partners LP/GLP Finance Corp., Rule 144A, Company Guaranteed Notes (Callable 01/15/27 @ 104.13) (1) |
(B+, B1) |
01/15/32 |
8.250 |
1,232,822 |
|||||||||||||
253 |
Sunoco LP, Rule 144A, Company Guaranteed Notes (Callable 09/15/28 @ 102.94) (1) |
(BB+, Ba1) |
03/15/34 |
5.875 |
253,096 |
|||||||||||||
600 |
Sunoco LP, Rule 144A, Company Guaranteed Notes (Callable 05/01/27 @ 103.63) (1) |
(BB+, Ba1) |
05/01/32 |
7.250 |
634,798 |
|||||||||||||
225 |
Sunoco LP, Rule 144A, Company Guaranteed Notes (Callable 07/01/28 @ 103.13) (1) |
(BB+, Ba1) |
07/01/33 |
6.250 |
230,683 |
|||||||||||||
750 |
Sunoco LP/Sunoco Finance Corp., Rule 144A, Company Guaranteed Notes (Callable 01/10/26 @ 103.50) (1) |
(BB+, Ba1) |
09/15/28 |
7.000 |
776,460 |
|||||||||||||
540 |
TransMontaigne Partners LLC, Rule 144A, Company Guaranteed Notes (Callable 03/15/27 @ 104.25) (1) |
(CCC+, Caa1) |
06/15/30 |
8.500 |
545,460 |
|||||||||||||
3,673,319 |
||||||||||||||||||
Packaging |
||||||||||||||||||
460 |
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, Rule 144A, Senior Unsecured Notes (Callable 01/30/26 @ 100.75) (1),(3) |
(CCC+, Caa2) |
09/01/29 |
3.000 |
514,575 |
|||||||||||||
1,129 |
Cascades, Inc./Cascades USA, Inc., Rule 144A, Senior Unsecured Notes (Callable 07/15/27 @ 103.38) (1) |
(BB-, Ba3) |
07/15/30 |
6.750 |
1,176,994 |
|||||||||||||
159 |
Crown Americas LLC, Rule 144A, Company Guaranteed Notes (Callable 06/01/28 @ 102.94) (1) |
(BB+, Ba2) |
06/01/33 |
5.875 |
162,762 |
|||||||||||||
1,010 |
Mauser Packaging Solutions Holding Co., Rule 144A, Secured Notes (Callable 06/01/27 @ 104.63) (1) |
(CCC+, Caa2) |
04/15/30 |
9.250 |
974,650 |
|||||||||||||
1,700 |
Mauser Packaging Solutions Holding Co., Rule 144A, Senior Secured Notes (Callable 06/01/27 @ 103.94) (1) |
(B, B2) |
04/15/30 |
7.875 |
1,696,490 |
|||||||||||||
279 |
Owens-Brockway Glass Container, Inc., Rule 144A, Company Guaranteed Notes (Callable 05/15/26 @ 103.63) (1) |
(B+, B3) |
05/15/31 |
7.250 |
285,149 |
|||||||||||||
544 |
Toucan FinCo Ltd./Toucan FinCo Can, Inc./Toucan FinCo U.S. LLC, Rule 144A, Senior Secured Notes (Callable 05/15/27 @ 104.75) (1) |
(B-, B3) |
05/15/30 |
9.500 |
543,688 |
|||||||||||||
1,718 |
Trident TPI Holdings, Inc., Rule 144A, Company Guaranteed Notes (Callable 01/30/26 @ 106.38) (1) |
(CCC+, Caa3) |
12/31/28 |
12.750 |
1,762,343 |
|||||||||||||
768 |
TriMas Corp., Rule 144A, Company Guaranteed Notes (Callable 01/30/26 @ 101.03) (1) |
(BB-, Ba3) |
04/15/29 |
4.125 |
747,555 |
|||||||||||||
7,864,206 |
||||||||||||||||||
Personal & Household Products |
||||||||||||||||||
883 |
Acushnet Co., Rule 144A, Company Guaranteed Notes (Callable 12/01/28 @ 102.81) (1) |
(BB, Ba3) |
12/01/33 |
5.625 |
895,129 |
|||||||||||||
700 |
Amer Sports Co., Rule 144A, Senior Secured Notes (Callable 02/16/27 @ 103.38) (1) |
(BBB-, Ba1) |
02/16/31 |
6.750 |
734,487 |
|||||||||||||
1,156 |
Energizer Holdings, Inc., Rule 144A, Company Guaranteed Notes (Callable 09/15/28 @ 103.00) (1),(2) |
(B, B2) |
09/15/33 |
6.000 |
1,110,032 |
|||||||||||||
341 |
JH North America Holdings, Inc., Rule 144A, Senior Secured Notes (Callable 07/31/27 @ 102.94) (1) |
(BBB-, Ba1) |
01/31/31 |
5.875 |
348,566 |
|||||||||||||
Par (000) |
Ratings† (S&P/Moody’s) |
Maturity |
Rate% |
Value |
||||||||||||||
CORPORATE BONDS |
||||||||||||||||||
Personal & Household Products |
||||||||||||||||||
$ |
114 |
JH North America Holdings, Inc., Rule 144A, Senior Secured Notes (Callable 07/31/28 @ 103.06) (1) |
(BBB-, Ba1) |
07/31/32 |
6.125 |
$ |
117,089 |
|||||||||||
3,205,303 |
||||||||||||||||||
Pharmaceuticals |
||||||||||||||||||
400 |
IQVIA, Inc., Rule 144A, Company Guaranteed Notes (Callable 06/01/28 @ 103.13) (1) |
(BB, Ba2) |
06/01/32 |
6.250 |
418,467 |
|||||||||||||
Property & Casualty Insurance |
||||||||||||||||||
1,587 |
Ardonagh Finco Ltd., Rule 144A, Senior Secured Notes (Callable 02/15/27 @ 103.88) (1) |
(B-, B3) |
02/15/31 |
7.750 |
1,664,882 |
|||||||||||||
Rail |
||||||||||||||||||
1,419 |
Genesee & Wyoming, Inc., Rule 144A, Senior Secured Notes (Callable 04/15/27 @ 103.13) (1) |
(BB, Ba3) |
04/15/32 |
6.250 |
1,465,122 |
|||||||||||||
415 |
Watco Cos. LLC/Watco Finance Corp., Rule 144A, Senior Unsecured Notes (Callable 08/01/27 @ 103.56) (1) |
(B-, B3) |
08/01/32 |
7.125 |
434,675 |
|||||||||||||
1,899,797 |
||||||||||||||||||
Real Estate Investment Trusts |
||||||||||||||||||
323 |
Starwood Property Trust, Inc., Rule 144A, Company Guranteed Notes (Callable 07/15/28 @ 100.00) (1) |
(BB-, Ba3) |
10/15/28 |
5.250 |
326,622 |
|||||||||||||
369 |
Starwood Property Trust, Inc., Rule 144A, Senior Unsecured Notes (Callable 07/15/30 @ 100.00) (1) |
(BB-, Ba3) |
01/15/31 |
5.750 |
374,200 |
|||||||||||||
1,093 |
Starwood Property Trust, Inc., Rule 144A, Senior Unsecured Notes (Callable 10/15/29 @ 100.00) (1) |
(BB-, Ba3) |
04/15/30 |
6.000 |
1,125,344 |
|||||||||||||
1,826,166 |
||||||||||||||||||
Recreation & Travel |
||||||||||||||||||
1,815 |
Motion Bondco DAC, Rule 144A, Company Guaranteed Notes (Callable 01/30/26 @ 100.00) (1),(2) |
(CCC-, Caa3) |
11/15/27 |
6.625 |
1,763,549 |
|||||||||||||
2,350 |
SeaWorld Parks & Entertainment, Inc., Rule 144A, Company Guaranteed Notes (Callable 01/10/26 @ 101.31) (1),(2) |
(B+, B2) |
08/15/29 |
5.250 |
2,290,614 |
|||||||||||||
2,307 |
Six Flags Entertainment Corp., Rule 144A, Company Guaranteed Notes (Callable 05/15/26 @ 103.63) (1),(2) |
(B+, Caa1) |
05/15/31 |
7.250 |
2,215,383 |
|||||||||||||
1,815 |
Speedway Motorsports LLC/Speedway Funding II, Inc., Rule 144A, Senior Unsecured Notes (Callable 01/30/26 @ 100.00) (1) |
(BB+, B1) |
11/01/27 |
4.875 |
1,814,009 |
|||||||||||||
1,318 |
Vail Resorts, Inc., Rule 144A, Company Guaranteed Notes (Callable 05/15/27 @ 103.25) (1) |
(BB-, Ba3) |
05/15/32 |
6.500 |
1,368,880 |
|||||||||||||
9,452,435 |
||||||||||||||||||
Restaurants |
||||||||||||||||||
400 |
1011778 BC ULC/New Red Finance, Inc., Rule 144A, Senior Secured Notes (Callable 06/15/26 @ 103.06) (1) |
(BB+, Ba2) |
06/15/29 |
6.125 |
411,069 |
|||||||||||||
Software - Services |
||||||||||||||||||
434 |
AmeriTex HoldCo Intermediate LLC, Rule 144A, Senior Secured Notes (Callable 08/15/28 @ 103.81) (1) |
(B, B2) |
08/15/33 |
7.625 |
458,237 |
|||||||||||||
356 |
Brightstar Lottery PLC/Brightstar Global Solutions Corp., Rule 144A, Senior Secured Notes (Callable 12/15/28 @ 102.88) (1) |
(BB+, NR) |
01/15/33 |
5.750 |
353,632 |
|||||||||||||
Par (000) |
Ratings† (S&P/Moody’s) |
Maturity |
Rate% |
Value |
||||||||||||||
CORPORATE BONDS |
||||||||||||||||||
Software - Services |
||||||||||||||||||
$ |
1,296 |
Cloud Software Group, Inc., Rule 144A, Secured Notes (Callable 01/30/26 @ 104.50) (1) |
(B-, Caa1) |
09/30/29 |
9.000 |
$ |
1,350,281 |
|||||||||||
900 |
Cloud Software Group, Inc., Rule 144A, Senior Secured Notes (Callable 08/15/28 @ 103.31) (1) |
(B, B1) |
08/15/33 |
6.625 |
892,510 |
|||||||||||||
362 |
CommScope LLC, Rule 144A, Senior Secured Notes (Callable 06/15/26 @ 103.00) (1),(2) |
(B-, B3) |
12/15/31 |
9.500 |
365,946 |
|||||||||||||
2,150 |
Insight Enterprises, Inc., Rule 144A, Company Guaranteed Notes (Callable 05/15/27 @ 103.31) (1) |
(BB+, Ba3) |
05/15/32 |
6.625 |
2,210,499 |
|||||||||||||
800 |
Open Text Corp., Rule 144A, Senior Secured Notes (Callable 11/01/27 @ 100.00) (1) |
(BBB-, Ba1) |
12/01/27 |
6.900 |
832,856 |
|||||||||||||
567 |
Open Text Holdings, Inc., Rule 144A, Company Guaranteed Notes (Callable 12/01/26 @ 102.06) (1) |
(BB, Ba3) |
12/01/31 |
4.125 |
529,679 |
|||||||||||||
1,040 |
UKG, Inc., Rule 144A, Senior Secured Notes (Callable 02/01/27 @ 103.44) (1) |
(B-, B2) |
02/01/31 |
6.875 |
1,070,429 |
|||||||||||||
2,298 |
Virtusa Corp., Rule 144A, Senior Unsecured Notes (Callable 01/30/26 @ 100.00) (1) |
(B-, Caa1) |
12/15/28 |
7.125 |
2,266,626 |
|||||||||||||
1,516 |
WEX, Inc., Rule 144A, Company Guaranteed Notes (Callable 03/15/28 @ 103.25) (1) |
(B, B1) |
03/15/33 |
6.500 |
1,558,084 |
|||||||||||||
400 |
ZoomInfo Technologies LLC/ZoomInfo Finance Corp., Rule 144A, Company Guaranteed Notes (Callable 01/10/26 @ 100.97) (1) |
(B+, B1) |
02/01/29 |
3.875 |
378,059 |
|||||||||||||
12,266,838 |
||||||||||||||||||
Specialty Retail |
||||||||||||||||||
331 |
Beach Acquisition Bidco LLC, Rule 144A, Senior Unsecured Notes, 10.000% Cash, 10.750% PIK (Callable 07/15/28 @ 103.00) (1),(4) |
(B+, Caa1) |
07/15/33 |
10.000 |
365,602 |
|||||||||||||
1,991 |
Eagle Intermediate Global Holding BV/Eagle U.S. Finance LLC, Rule 144A, Senior Secured Notes, 7.500% Cash, 7.500% PIK (1),(4),(9) |
(NR, Ca) |
03/31/26 |
7.500 |
1,045,459 |
|||||||||||||
55 |
Eagle Intermediate Global Holding BV/Eagle U.S. Finance LLC, Rule 144A, Senior Secured Notes, 7.500% Cash, 7.500% PIK (1),(4),(7),(8) |
(NR, Ca) |
03/31/26 |
7.500 |
28,820 |
|||||||||||||
68 |
Eagle Intermediate Global Holding BV/Ruyi U.S. Finance LLC (7),(9) |
(NR, NR) |
03/31/26 |
0.000 |
7 |
|||||||||||||
1,550 |
LCM Investments Holdings II LLC, Rule 144A, Senior Unsecured Notes (Callable 08/01/26 @ 104.13) (1) |
(BB-, B2) |
08/01/31 |
8.250 |
1,640,363 |
|||||||||||||
763 |
Sonic Automotive, Inc., Rule 144A, Company Guaranteed Notes (Callable 11/15/26 @ 102.44) (1),(2) |
(BB-, B1) |
11/15/31 |
4.875 |
740,203 |
|||||||||||||
3,820,454 |
||||||||||||||||||
Steel Producers/Products |
||||||||||||||||||
361 |
Carpenter Technology Corp., Rule 144A, Senior Unsecured Notes (Callable 03/01/29 @ 102.81) (1) |
(BB+, Ba2) |
03/01/34 |
5.625 |
367,008 |
|||||||||||||
346 |
Commercial Metals Co., Rule 144A, Senior Unsecured Notes (Callable 11/15/28 @ 102.88) (1) |
(BB+, Ba2) |
11/15/33 |
5.750 |
353,997 |
|||||||||||||
794 |
TMS International Corp., Rule 144A, Senior Unsecured Notes (Callable 01/10/26 @ 101.56) (1) |
(B, Caa1) |
04/15/29 |
6.250 |
770,467 |
|||||||||||||
1,491,472 |
||||||||||||||||||
Par (000) |
Ratings† (S&P/Moody’s) |
Maturity |
Rate% |
Value |
||||||||||||||
CORPORATE BONDS |
||||||||||||||||||
Support - Services |
||||||||||||||||||
$ |
649 |
AECOM, Rule 144A, Company Guaranteed Notes (Callable 08/01/28 @ 103.00) (1) |
(BB, Ba2) |
08/01/33 |
6.000 |
$ |
665,504 |
|||||||||||
2,614 |
Allied Universal Holdco LLC, Rule 144A, Senior Secured Notes (Callable 02/15/27 @ 103.94) (1) |
(B, B3) |
02/15/31 |
7.875 |
2,756,394 |
|||||||||||||
715 |
American Builders & Contractors Supply Co., Inc., Rule 144A, Senior Secured Notes (Callable 01/30/26 @ 100.00) (1) |
(BBB-, Ba2) |
01/15/28 |
4.000 |
710,588 |
|||||||||||||
1,000 |
Belron U.K. Finance PLC, Rule 144A, Senior Secured Notes (Callable 10/15/26 @ 102.88) (1) |
(BB-, Ba3) |
10/15/29 |
5.750 |
1,021,730 |
|||||||||||||
1,431 |
CoreLogic, Inc., Rule 144A, Senior Secured Notes (Callable 01/30/26 @ 101.13) (1) |
(B-, B2) |
05/01/28 |
4.500 |
1,409,981 |
|||||||||||||
345 |
Herc Holdings, Inc., Rule 144A, Company Guaranteed Notes (Callable 06/15/27 @ 103.50) (1) |
(BB-, Ba3) |
06/15/30 |
7.000 |
363,281 |
|||||||||||||
705 |
Herc Holdings, Inc., Rule 144A, Company Guaranteed Notes (Callable 06/15/28 @ 103.63) (1) |
(BB-, Ba3) |
06/15/33 |
7.250 |
749,482 |
|||||||||||||
705 |
QXO Building Products, Inc., Rule 144A, Senior Secured Notes (Callable 04/30/28 @ 103.38) (1) |
(BB-, Ba3) |
04/30/32 |
6.750 |
736,879 |
|||||||||||||
132 |
United Rentals North America, Inc., Rule 144A, Company Guaranteed Notes (Callable 11/15/28 @ 102.69) (1) |
(BB+, Ba2) |
11/15/33 |
5.375 |
131,988 |
|||||||||||||
500 |
WESCO Distribution, Inc., Rule 144A, Company Guaranteed Notes (Callable 01/30/26 @ 101.21) (1) |
(BB, Ba3) |
06/15/28 |
7.250 |
507,551 |
|||||||||||||
400 |
WESCO Distribution, Inc., Rule 144A, Company Guaranteed Notes (Callable 03/15/26 @ 103.19) (1) |
(BB, Ba3) |
03/15/29 |
6.375 |
413,568 |
|||||||||||||
330 |
WESCO Distribution, Inc., Rule 144A, Company Guaranteed Notes (Callable 03/15/28 @ 103.19) (1) |
(BB, Ba3) |
03/15/33 |
6.375 |
344,754 |
|||||||||||||
406 |
Williams Scotsman, Inc., Rule 144A, Senior Secured Notes (Callable 04/15/27 @ 103.31) (1) |
(BB-, B2) |
04/15/30 |
6.625 |
421,079 |
|||||||||||||
1,372 |
Williams Scotsman, Inc., Rule 144A, Senior Secured Notes (Callable 06/15/26 @ 103.31) (1) |
(BB-, B2) |
06/15/29 |
6.625 |
1,422,217 |
|||||||||||||
752 |
ZipRecruiter, Inc., Rule 144A, Senior Unsecured Notes (Callable 01/10/26 @ 102.50) (1) |
(B, B3) |
01/15/30 |
5.000 |
591,073 |
|||||||||||||
12,246,069 |
||||||||||||||||||
Tech Hardware & Equipment |
||||||||||||||||||
859 |
Ahead DB Holdings LLC, Rule 144A, Company Guaranteed Notes (Callable 01/30/26 @ 101.66) (1) |
(CCC+, Caa1) |
05/01/28 |
6.625 |
865,405 |
|||||||||||||
683 |
CommScope Technologies LLC, Rule 144A, Company Guaranteed Notes (Callable 01/10/26 @ 100.00) (1) |
(CCC, Caa3) |
03/15/27 |
5.000 |
681,933 |
|||||||||||||
1,150 |
Zebra Technologies Corp., Rule 144A, Company Guaranteed Notes (Callable 06/01/27 @ 103.25) (1) |
(BB, Ba2) |
06/01/32 |
6.500 |
1,192,242 |
|||||||||||||
2,739,580 |
||||||||||||||||||
Telecom - Wireline Integrated & Services |
||||||||||||||||||
1,000 |
Altice Financing SA, Rule 144A, Senior Secured Notes (Callable 01/30/26 @ 100.00) (1),(2) |
(CCC, Caa2) |
01/15/28 |
5.000 |
701,022 |
|||||||||||||
225 |
Level 3 Financing, Inc., Rule 144A, Company Guaranteed Notes (Callable 01/15/31 @ 104.25) (1) |
(CCC, Caa1) |
01/15/36 |
8.500 |
230,961 |
|||||||||||||
Par (000) |
Ratings† (S&P/Moody’s) |
Maturity |
Rate% |
Value |
||||||||||||||
CORPORATE BONDS |
||||||||||||||||||
Telecom - Wireline Integrated & Services |
||||||||||||||||||
$ |
200 |
Virgin Media Secured Finance PLC, Rule 144A, Senior Secured Notes (Callable 01/30/26 @ 102.25) (1) |
(B+, Ba3) |
08/15/30 |
4.500 |
$ |
185,911 |
|||||||||||
826 |
Vmed O2 U.K. Financing I PLC, Rule 144A, Senior Secured Notes (Callable 01/31/26 @ 102.13) (1) |
(B+, Ba3) |
01/31/31 |
4.250 |
754,105 |
|||||||||||||
550 |
Vmed O2 U.K. Financing I PLC, Rule 144A, Senior Secured Notes (Callable 07/15/26 @ 102.38) (1) |
(B+, Ba3) |
07/15/31 |
4.750 |
508,241 |
|||||||||||||
2,380,240 |
||||||||||||||||||
Theaters & Entertainment |
||||||||||||||||||
600 |
Live Nation Entertainment, Inc., Rule 144A, Senior Secured Notes (Callable 01/30/26 @ 101.63) (1) |
(BB, Ba1) |
05/15/27 |
6.500 |
605,794 |
|||||||||||||
Transport Infrastructure/Services |
||||||||||||||||||
200 |
XPO, Inc., Rule 144A, Company Guaranteed Notes (Callable 06/01/26 @ 103.56) (1) |
(B+, Ba3) |
06/01/31 |
7.125 |
209,417 |
|||||||||||||
400 |
XPO, Inc., Rule 144A, Company Guaranteed Notes (Callable 02/01/27 @ 103.56) (1) |
(B+, Ba3) |
02/01/32 |
7.125 |
422,066 |
|||||||||||||
694 |
XPO, Inc., Rule 144A, Senior Secured Notes (Callable 01/10/26 @ 103.13) (1) |
(BBB-, Ba1) |
06/01/28 |
6.250 |
708,888 |
|||||||||||||
1,340,371 |
||||||||||||||||||
TOTAL CORPORATE BONDS |
176,543,951 |
|||||||||||||||||
BANK LOANS |
||||||||||||||||||
Advertising |
||||||||||||||||||
1,977 |
MH Sub I LLC, 1 mo. USD Term SOFR + 4.250% (10) |
(B, B1) |
12/31/31 |
7.966 |
1,701,458 |
|||||||||||||
Aerospace & Defense |
||||||||||||||||||
889 |
Atlas CC Acquisition Corp. (2025 Second Out Term Loan B), 3 mo. USD Term SOFR + 4.250% (10) |
(CCC+, Caa2) |
05/25/29 |
8.370 |
460,571 |
|||||||||||||
129 |
Atlas CC Acquisition Corp. (2025 Second Out Term Loan C), 3 mo. USD Term SOFR + 4.250% (10) |
(CCC+, Caa2) |
05/25/29 |
8.370 |
66,841 |
|||||||||||||
109 |
Peraton Corp., 3 mo. USD Term SOFR + 7.750% (10) |
(NR, NR) |
02/01/29 |
11.672 |
86,587 |
|||||||||||||
613,999 |
||||||||||||||||||
Auto Parts & Equipment |
||||||||||||||||||
325 |
Jason Group, Inc., 1 mo. USD Term SOFR + 6.000% (8),(9),(10) |
(NR, NR) |
11/30/26 |
9.831 |
294,048 |
|||||||||||||
Building Materials |
||||||||||||||||||
414 |
ARAMSCO, Inc., 3 mo. USD Term SOFR + 4.750% (10) |
(CCC+, Caa1) |
10/10/30 |
8.422 |
280,795 |
|||||||||||||
518 |
Cornerstone Building Brands, Inc., 1 mo. USD Term SOFR + 5.625% (10) |
(B-, Caa1) |
08/01/28 |
9.375 |
412,166 |
|||||||||||||
692,961 |
||||||||||||||||||
Chemicals |
||||||||||||||||||
605 |
Lonza Group AG (10),(11) |
(B-, B2) |
07/03/28 |
0.000 |
532,468 |
|||||||||||||
299 |
PMHC II, Inc., 3 mo. USD Term SOFR + 6.250% (8),(10) |
(CCC+, Caa1) |
04/21/29 |
10.177 |
169,158 |
|||||||||||||
Par (000) |
Ratings† (S&P/Moody’s) |
Maturity |
Rate% |
Value |
||||||||||||||
BANK LOANS |
||||||||||||||||||
Chemicals |
||||||||||||||||||
$ |
713 |
PMHC II, Inc., 3 mo. USD Term SOFR + 4.250% (10) |
(CCC+, Caa1) |
04/23/29 |
8.327 |
$ |
399,616 |
|||||||||||
72 |
SK Neptune Husky Finance SARL (5),(6),(9) |
(NR, WR) |
04/30/26 |
0.000 |
10,316 |
|||||||||||||
745 |
SK Neptune Husky Group SARL (5),(6),(9) |
(NR, WR) |
01/03/29 |
0.000 |
18,613 |
|||||||||||||
221 |
Tronox Finance LLC (10),(11) |
(B, B1) |
04/04/29 |
0.000 |
182,136 |
|||||||||||||
1,312,307 |
||||||||||||||||||
Electronics |
||||||||||||||||||
792 |
Idemia Group, 3 mo. USD Term SOFR + 4.250% (10) |
(B, B2) |
09/30/28 |
7.922 |
798,668 |
|||||||||||||
Energy - Exploration & Production |
||||||||||||||||||
594 |
Colossus Acquireco LLC, 3 mo. USD Term SOFR + 1.750% (10) |
(BB+, Ba1) |
07/30/32 |
5.410 |
594,265 |
|||||||||||||
Food - Wholesale |
||||||||||||||||||
600 |
Quantum Bidco Ltd. (10),(11),(12) |
(B, B3) |
01/25/28 |
0.000 |
809,047 |
|||||||||||||
300 |
WOOF Holdings, Inc., 3 mo. USD Term SOFR + 3.750% (10) |
(CCC-, Ca) |
12/31/29 |
7.684 |
38,250 |
|||||||||||||
847,297 |
||||||||||||||||||
Gas Distribution |
||||||||||||||||||
946 |
Traverse Midstream Partners LLC, 3 mo. USD Term SOFR + 2.500% (10) |
(B+, B2) |
02/16/28 |
6.340 |
949,617 |
|||||||||||||
Health Facilities |
||||||||||||||||||
285 |
Carestream Health, Inc., 3 mo. USD Term SOFR + 7.500% (9),(10) |
(CCC+, Caa2) |
09/30/27 |
11.272 |
146,460 |
|||||||||||||
210 |
Sonrava Health Holdings LLC (5),(6),(8),(9) |
(NR, B3) |
05/18/28 |
0.000 |
141,913 |
|||||||||||||
880 |
Sonrava Health Holdings LLC, 5.500% PIK (4),(5),(6),(8),(9) |
(NR, Caa3) |
08/18/28 |
5.500 |
66,010 |
|||||||||||||
39 |
Sonrava Health Holdings LLC (8),(10),(11) |
(NR, NR) |
06/03/26 |
0.000 |
38,356 |
|||||||||||||
175 |
Zest Acquisition Corp. (8),(10),(11) |
(B, B3) |
02/08/28 |
0.000 |
171,932 |
|||||||||||||
564,671 |
||||||||||||||||||
Health Services |
||||||||||||||||||
57 |
MedAssets Software Intermediate Holdings, Inc., 3 mo. USD Term SOFR + 4.000% (10) |
(B, Caa1) |
12/15/28 |
7.695 |
51,378 |
|||||||||||||
279 |
MedAssets Software Intermediate Holdings, Inc., 1 mo. USD Term SOFR + 4.000% (10) |
(CCC, Ca) |
12/15/28 |
7.845 |
193,151 |
|||||||||||||
25 |
MedAssets Software Intermediate Holdings, Inc., 3 mo. USD Term SOFR + 5.250% (10) |
(B, Caa1) |
12/15/28 |
8.945 |
23,030 |
|||||||||||||
267,559 |
||||||||||||||||||
Hotels |
||||||||||||||||||
131 |
Aimbridge Acquisition Co., Inc., 1 mo. USD Term SOFR + 1.500% Cash, 6.000% PIK (4),(10) |
(B-, Caa1) |
03/11/30 |
11.350 |
130,624 |
|||||||||||||
144 |
Aimbridge Acquisition Co., Inc., 1 mo. USD Term SOFR + 5.500% (10) |
(B+, B2) |
03/11/30 |
9.350 |
144,404 |
|||||||||||||
275,028 |
||||||||||||||||||
Insurance Brokerage |
||||||||||||||||||
137 |
Allied Benefit Systems Intermediate LLC (8),(13) |
(NR, NR) |
10/31/30 |
1.000 |
136,659 |
|||||||||||||
860 |
Allied Benefit Systems Intermediate LLC, 3 mo. USD Term SOFR + 5.250% (8),(10) |
(NR, NR) |
10/31/30 |
8.733 |
857,203 |
|||||||||||||
993,862 |
||||||||||||||||||
Machinery |
||||||||||||||||||
393 |
Madison IAQ LLC, 3 mo. USD Term SOFR + 2.750% (10) |
(B, B1) |
11/08/32 |
6.637 |
396,102 |
|||||||||||||
Par (000) |
Ratings† (S&P/Moody’s) |
Maturity |
Rate% |
Value |
||||||||||||||
BANK LOANS |
||||||||||||||||||
Media - Diversified |
||||||||||||||||||
$ |
790 |
Cast & Crew Payroll LLC, 1 mo. USD Term SOFR + 3.750% (10) |
(CCC+, Caa1) |
12/29/28 |
7.466 |
$ |
476,940 |
|||||||||||
216 |
Technicolor Creative Studios, 0.500% PIK (3),(4),(5),(6),(7),(8) |
(NR, NR) |
08/06/33 |
0.500 |
0 |
|||||||||||||
618 |
X Corp. |
(NR, NR) |
10/26/29 |
9.500 |
617,045 |
|||||||||||||
1,093,985 |
||||||||||||||||||
Packaging |
||||||||||||||||||
1,231 |
Proampac PG Borrower LLC, 3 mo. USD Term SOFR + 4.000% (10) |
(B-, B3) |
09/15/28 |
7.898 - 7.905 |
1,235,382 |
|||||||||||||
Personal & Household Products |
||||||||||||||||||
1,264 |
Serta Simmons Bedding LLC, 3 mo. USD Term SOFR + 7.500% (10) |
(NR, NR) |
06/29/28 |
11.286 |
1,195,497 |
|||||||||||||
138 |
Serta Simmons Bedding LLC, 3 mo. USD Term SOFR + 7.500% (8),(9),(10) |
(NR, NR) |
06/29/28 |
11.484 |
138,138 |
|||||||||||||
1,333,635 |
||||||||||||||||||
Software - Services |
||||||||||||||||||
551 |
AQ Carver Buyer, Inc., 3 mo. USD Term SOFR + 5.500% (10) |
(B, B3) |
08/02/29 |
9.272 |
528,593 |
|||||||||||||
282 |
Astra Acquisition Corp. (5),(6),(9) |
(D, WR) |
02/25/28 |
0.000 |
59,126 |
|||||||||||||
834 |
Astra Acquisition Corp. (5),(6),(9) |
(D, WR) |
10/25/28 |
0.000 |
3,520 |
|||||||||||||
23 |
Astra Acquisition Corp., 3 mo. USD Term SOFR + 8.750% (8),(10) |
(NR, NR) |
04/01/26 |
12.627 |
23,579 |
|||||||||||||
10 |
Astra Acquisition Corp., 3 mo. USD Term SOFR + 8.750% (8),(10) |
(NR, NR) |
04/01/26 |
12.735 |
10,063 |
|||||||||||||
127 |
CommScope, Inc., 1 mo. USD Term SOFR + 4.750% (10) |
(B-, B3) |
12/17/29 |
8.466 |
126,938 |
|||||||||||||
712 |
Corel Corp., 3 mo. USD Term SOFR + 5.000% (9),(10) |
(CCC+, B3) |
07/02/26 |
8.922 |
672,857 |
|||||||||||||
1,386 |
EagleView Technology Corp., 3 mo. USD Term SOFR + 5.500% (10) |
(B-, B3) |
08/14/28 |
9.172 |
1,337,437 |
|||||||||||||
332 |
Javelin Buyer, Inc., 3 mo. USD Term SOFR + 5.000% (9),(10) |
(CCC+, Caa2) |
12/06/32 |
8.822 |
330,188 |
|||||||||||||
1,124 |
OID-OL Intermediate I LLC, 3 mo. USD Term SOFR + 4.250%(10) |
(CCC+, Caa1) |
02/01/29 |
8.240 |
942,722 |
|||||||||||||
471 |
OID-OL Intermediate I LLC, 3 mo. USD Term SOFR + 6.000%(10) |
(B, B1) |
02/01/29 |
9.840 |
484,751 |
|||||||||||||
372 |
Polaris Newco LLC, 1 mo. GBP SONIA + 5.000% (10),(12) |
(CCC+, B3) |
06/02/28 |
8.723 |
460,681 |
|||||||||||||
1,150 |
Project Alpha Intermediate Holding, Inc., 3 mo. USD Term SOFR + 5.000% (10) |
(B-, Caa1) |
05/09/33 |
8.672 |
1,105,800 |
|||||||||||||
1,573 |
RealPage, Inc., 3 mo. USD Term SOFR + 3.000% (10) |
(B-, B3) |
04/24/28 |
6.934 |
1,573,988 |
|||||||||||||
514 |
Redstone Holdco 2 LP, 3 mo. USD Term SOFR + 4.750% (10) |
(CCC-, Caa2) |
04/27/28 |
8.852 |
215,799 |
|||||||||||||
802 |
UKG, Inc., 3 mo. USD Term SOFR + 2.500% (10) |
(B-, B2) |
02/10/31 |
6.338 |
804,076 |
|||||||||||||
8,680,118 |
||||||||||||||||||
Steel Producers/Products |
||||||||||||||||||
1,001 |
OPTA, Inc., 1 mo. USD Term SOFR + 6.750% (8),(9),(10) |
(NR, NR) |
11/09/28 |
10.581 |
980,958 |
|||||||||||||
Support - Services |
||||||||||||||||||
219 |
CoreLogic, Inc., 1 mo. USD Term SOFR + 6.500% (10) |
(CCC, Caa2) |
06/04/29 |
10.331 |
221,510 |
|||||||||||||
823 |
CoreLogic, Inc., 1 mo. USD Term SOFR + 3.500% (10) |
(B-, B2) |
06/02/28 |
7.331 |
825,294 |
|||||||||||||
353 |
LaserShip, Inc., 3 mo. USD Term SOFR + 4.000% (10) |
(CCC-, Caa2) |
01/02/29 |
7.672 |
266,982 |
|||||||||||||
313 |
LaserShip, Inc., 3 mo. USD Term SOFR + 6.250% (10) |
(B, B2) |
01/02/29 |
9.922 |
317,487 |
|||||||||||||
802 |
LaserShip, Inc., 3 mo. USD Term SOFR + 1.500% (10) |
(CCC, Caa2) |
08/10/29 |
5.434 |
603,134 |
|||||||||||||
270 |
LaserShip, Inc., 3 mo. USD Term SOFR + 1.500% (10) |
(CCC-, Caa3) |
08/10/29 |
5.172 |
84,449 |
|||||||||||||
536 |
PODS LLC, 1 mo. USD Term SOFR + 3.000% (10) |
(B-, B3) |
03/31/28 |
6.831 |
530,790 |
|||||||||||||
400 |
TruGreen LP, 3 mo. USD Term SOFR + 8.500% (9),(10) |
(CCC, Caa3) |
11/02/28 |
12.602 |
373,126 |
|||||||||||||
3,222,772 |
||||||||||||||||||
Par (000) |
Ratings† (S&P/Moody’s) |
Maturity |
Rate% |
Value |
||||||||||||||
BANK LOANS |
||||||||||||||||||
Telecom - Wireline Integrated & Services |
||||||||||||||||||
$ |
968 |
Patagonia Holdco LLC, 3 mo. USD Term SOFR + 5.750% (10) |
(NR, B3) |
08/01/29 |
9.620 |
$ |
721,405 |
|||||||||||
TOTAL BANK LOANS |
27,570,097 |
|||||||||||||||||
Collateralized Debt Obligations |
||||||||||||||||||
1,000 |
Anchorage Capital CLO 25 Ltd., 2022-25A, Rule 144A, 3 mo. USD Term SOFR + 7.170%(1),(10) |
(NR, Ba3) |
04/20/35 |
11.054 |
987,023 |
|||||||||||||
780 |
Anchorage Capital Europe CLO 6 DAC, Rule 144A, 3 mo. EURIBOR + 3.400% (1),(3),(10) |
(BBB-, NR) |
10/22/38 |
5.437 |
922,569 |
|||||||||||||
500 |
Anchorage Credit Funding 4 Ltd., 2016-4A, Rule 144A(1) |
(NR, Ba1) |
04/27/39 |
6.659 |
492,502 |
|||||||||||||
1,500 |
ARES LXIII CLO Ltd., 2022-63A, Rule 144A, 3 mo. USD Term SOFR +3.000% (1),(10) |
(NR, NR) |
10/15/38 |
7.283 |
1,501,981 |
|||||||||||||
750 |
Battalion CLO 18 Ltd., 2020-18A, Rule 144A, 3 mo. USD Term SOFR +6.972% (1),(10) |
(B, NR) |
10/15/36 |
10.876 |
628,222 |
|||||||||||||
1,000 |
Battalion CLO XV Ltd., 2020-15A, Rule 144A, 3 mo. USD Term SOFR +6.612% (1),(10) |
(BB-, NR) |
01/17/33 |
10.493 |
897,886 |
|||||||||||||
1,000 |
Cedar Funding VI CLO Ltd., 2016-6A, Rule 144A, 3 mo. USD Term SOFR +6.250% (1),(10) |
(BB-, NR) |
04/20/34 |
10.134 |
995,736 |
|||||||||||||
1,000 |
KKR CLO 14 Ltd., Rule 144A, 3 mo. USD Term SOFR + 6.412% (1),(10) |
(NR, B1) |
07/15/31 |
10.316 |
984,547 |
|||||||||||||
1,000 |
KKR CLO 16 Ltd., Rule 144A, 3 mo. USD Term SOFR + 7.372% (1),(10) |
(B, NR) |
10/20/34 |
11.256 |
959,549 |
|||||||||||||
1,000 |
Marble Point CLO XXIII Ltd., 2021-4A, Rule 144A, 3 mo. USD Term SOFR +6.012% (1),(10) |
(NR, Ba1) |
01/22/35 |
9.869 |
1,004,590 |
|||||||||||||
TOTAL ASSET BACKED SECURITIES |
9,374,605 |
|||||||||||||||||
Shares |
||||||||||||||||||
COMMON STOCKS |
||||||||||||||||||
Auto Parts & Equipment |
||||||||||||||||||
38 |
Jason, Inc. (6) |
206,690 |
||||||||||||||||
Chemicals |
||||||||||||||||||
34,560,048 |
Ascend Performance Litigation Trust Interest, Class A (6),(7) |
2,143 |
||||||||||||||||
69,655,103 |
Ascend Performance Litigation Trust Interest, Class C (6),(7) |
4,319 |
||||||||||||||||
7,652 |
Ascend Performance Materials Operations LLC (6),(8) |
17,217 |
||||||||||||||||
46,574 |
Proppants Holdings LLC (7),(8),(9) |
931 |
||||||||||||||||
12,633 |
SK Mohawk Holdings, SCS (6),(8) |
126,330 |
||||||||||||||||
10,028 |
Utex Industries (6) |
270,756 |
||||||||||||||||
421,696 |
||||||||||||||||||
Hotels |
||||||||||||||||||
4,671 |
Aimbridge Acquisition Co., Inc. (6) |
303,615 |
||||||||||||||||
Personal & Household Products |
||||||||||||||||||
22,719 |
Dream Well, Inc. (6) |
210,151 |
||||||||||||||||
22,719 |
Serta Simmons Bedding Equipment Co. (6),(7),(8) |
0 |
||||||||||||||||
210,151 |
||||||||||||||||||
Shares |
Value |
|||||||||||||||||
COMMON STOCKS (continued) |
||||||||||||||||||
Pharmaceuticals (0.0%) |
||||||||||||||||||
45,583 |
Akorn, Inc. (6) |
$ |
1,368 |
|||||||||||||||
Private Placement (0.0%) |
||||||||||||||||||
69,511,940 |
Technicolor Creative Studios SA (6),(7),(8),(14) |
0 |
||||||||||||||||
Support - Services (0.0%) |
||||||||||||||||||
800 |
LTR Holdings, Inc. (6),(7),(8),(9) |
1,185 |
||||||||||||||||
Telecom - Wireline Integrated & Services (0.1%) |
||||||||||||||||||
10,212 |
Luxco Co. Ltd. (3),(6) |
179,734 |
||||||||||||||||
TOTAL COMMON STOCKS (Cost $3,668,565) |
1,324,439 |
|||||||||||||||||
WARRANT (0.0%) |
||||||||||||||||||
Chemicals (0.0%) |
||||||||||||||||||
11,643 |
Project Investor Holdings LLC, expires 02/08/26 (6),(7),(8),(9) (Cost $6,054) |
0 |
||||||||||||||||
SHORT-TERM INVESTMENTS (13.5%) |
||||||||||||||||||
4,797,320 |
State Street Institutional U.S. Government Money Market Fund - Premier Class, 3.745% (15) |
4,797,320 |
||||||||||||||||
16,281,992 |
State Street Navigator Securities Lending Government Money Market Portfolio, 3.83% (15),(16) |
16,281,992 |
||||||||||||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $21,079,312) |
21,079,312 |
|||||||||||||||||
TOTAL INVESTMENTS AT VALUE (151.2%) (Cost $242,117,873) |
235,892,404 |
|||||||||||||||||
LIABILITIES IN EXCESS OF OTHER ASSETS (-51.2%) |
(79,865,769 |
) | ||||||||||||||||
NET ASSETS (100.0%) |
$ |
156,026,635 |
||||||||||||||||
| † | Credit ratings given by the S&P Global Ratings Division of S&P Global Inc. (“S&P”) and Moody’s Investors Service, Inc. (“Moody’s”) are unaudited. |
(1) |
Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2025, these securities amounted to a value of $183,433,869 or 117.6% of net assets. |
(2) |
Security or portion thereof is out on loan (See Note 2-K). |
(3) |
This security is denominated in Euro. |
(4) |
PIK: Payment-in-kind security for which part of the income earned may be paid as additional principal. PIK is on non-accrual. |
(5) |
Bond is currently in default. |
(6) |
Non-income producing security. |
(7) |
Not readily marketable security; security is valued at fair value as determined in good faith by UBS Asset Management (Americas) LLC as the Fund’s valuation designee under the oversight of the Board of Directors (See Note 2-A). |
(8) |
Security is valued using significant unobservable inputs. |
(9) |
Illiquid security. |
(10) |
Variable rate obligation -The interest rate shown is the rate in effect as of December 31, 2025. The rate may be subject to a cap and floor. |
(11) |
Position is unsettled. Contract rate was not determined at December 31, 2025 and does not take effect until settlement. |
(12) |
This security is denominated in British Pound. |
(13) |
All or a portion is an unfunded loan commitment (See Note 2-J). |
(14) |
Security is held through holdings of 100 shares of the CIG Special Purpose SPC - Credit Suisse Asset Management Income Fund Segregated Portfolio, an affiliated entity. |
(15) |
Rate shown reflects yield at December 30, 2025. |
(16) |
Represents security purchased with cash collateral received for securities on loan. |
Forward Currency to be Purchased |
Forward Currency to be Sold |
Settlement Date |
Counterparty |
Value on Settlement Date |
Current Value/Notional |
Unrealized Appreciation |
||||||||||||||||||||||
EUR |
50,254 | USD | 59,399 | 10/07/26 | Deutsche Bank AG | $ | 59,399 | $ | 59,707 | $ | 308 | |||||||||||||||||
USD |
2,210,804 | EUR | 1,852,077 | 10/07/26 | Deutsche Bank AG | (2,210,804 | ) | (2,200,449 | ) | 10,355 | ||||||||||||||||||
Total Unrealized Appreciation |
$ | 10,663 | ||||||||||||||||||||||||||
Forward Currency to be Purchased |
Forward Currency to be Sold |
Settlement Date |
Counterparty |
Value on Settlement Date |
Current Value/Notional |
Unrealized Depreciation |
||||||||||||||||||||||
USD |
76,804 | EUR | 65,314 | 10/07/26 | Barclays Bank PLC | $ | (76,804 | ) | $ | (77,600 | ) | $ | (796 | ) | ||||||||||||||
USD |
793,728 | GBP | 592,000 | 10/07/26 | Deutsche Bank AG | (793,728 | ) | (795,509 | ) | (1,781 | ) | |||||||||||||||||
USD |
467,381 | GBP | 348,000 | 10/07/26 | Morgan Stanley | (467,381 | ) | (467,630 | ) | (249 | ) | |||||||||||||||||
Total Unrealized Depreciation |
$ | (2,826 | ) | |||||||||||||||||||||||||
Total Net Unrealized Appreciation/(Depreciation) |
$ | 7,837 | ||||||||||||||||||||||||||
Assets |
||||
Investments at value, including collateral for securities on loan of $16,281,992 (Cost $242,117,873) (Note 2) |
$ |
235,892,404 |
1 | |
Foreign currency at value (Cost $832,729) |
836,529 |
|||
Interest receivable |
3,836,609 |
|||
Receivable for investments sold |
915,013 |
|||
Deferred offering costs (Note 7) |
11,761 |
|||
Unrealized appreciation on forward foreign currency contracts (Note 2) |
10,663 |
|||
Prepaid expenses and other assets |
25,269 |
|||
Total assets |
241,528,248 |
|||
Liabilities |
||||
Investment advisory fee payable (Note 3) |
196,461 |
|||
Administrative services fee payable |
22,173 |
|||
Loan payable (Note 4) |
64,000,000 |
|||
Payable upon return of securities loaned (Note 2) |
16,281,992 |
|||
Due to custodian |
2,079,092 |
|||
Payable for investments purchased |
1,992,430 |
|||
Interest payable (Note 4) |
529,991 |
|||
Unfunded loan commitments (Note 2) |
137,173 |
|||
Directors’ fee payable |
60,723 |
|||
Unrealized depreciation on forward foreign currency contracts (Note 2) |
2,826 |
|||
Commitment fees payable (Note 4) |
12,990 |
|||
Accrued expenses |
185,762 |
|||
Total liabilities |
85,501,613 |
|||
Net Assets |
||||
Applicable to 54,853,819 shares outstanding |
$ |
156,026,635 |
||
Net Assets |
||||
Capital stock, $.001 par value (Note 6) |
54,854 |
|||
Paid-in capital (Note 6) |
195,562,670 |
|||
Total distributable earnings (loss) |
(39,590,889 |
) | ||
Net assets |
$ |
156,026,635 |
||
Net Asset Value Per Share |
$2.84 |
|||
Market Price Per Share |
$2.83 |
|||
1 |
Includes $15,958,962 of securities on loan. |
Investment Income |
||||
Interest |
$ |
17,653,426 |
||
Dividends |
140,959 |
|||
Securities lending (net of rebates) |
74,532 |
|||
Total investment income |
17,868,917 |
|||
Expenses |
||||
Investment advisory fees (Note 3) |
790,268 |
|||
Administrative services fees |
76,080 |
|||
Interest expense (Note 4) |
3,276,786 |
|||
Legal fees |
422,819 |
|||
Directors’ fees |
271,055 |
|||
Commitment fees (Note 4) |
97,664 |
|||
Printing fees |
94,781 |
|||
Audit and tax fees |
82,833 |
|||
Custodian fees |
77,417 |
|||
Transfer agent fees |
58,730 |
|||
Stock exchange listing fees |
4,267 |
|||
Insurance expense |
4,257 |
|||
Amortization of offering costs (Note 7) |
647,278 |
|||
Miscellaneous expense |
12,113 |
|||
Total expenses |
5,916,348 |
|||
Net investment income |
11,952,569 |
|||
Net Realized and Unrealized Gain (Loss) from Investments, Foreign Currency and Forward Foreign Currency Contracts |
||||
Net realized loss from investments |
(2,709,089 |
) | ||
Net realized loss from foreign currency transactions |
(11,931 |
) | ||
Net realized loss from forward foreign currency contracts |
(111,077 |
) | ||
Net change in unrealized appreciation (depreciation) from investments |
(978,821 |
) | ||
Net change in unrealized appreciation (depreciation) from foreign currency translations |
3,590 |
|||
Net change in unrealized appreciation (depreciation) from forward foreign currency contracts |
(173,905 |
) | ||
Net realized and unrealized loss from investments, foreign currency transactions and forward foreign currency contracts |
(3,981,233 |
) | ||
Net increase in net assets resulting from operations |
$ |
7,971,336 |
||
For the Year Ended December 31, 2025 |
For the Year Ended December 31, 2024 |
|||||||
From Operations |
||||||||
Net investment income |
$ |
11,952,569 |
$ |
13,245,221 |
||||
Net realized loss from investments, foreign currency transactions and forward foreign currency contracts |
(2,832,097 |
) |
(3,128,338 |
) | ||||
Net change in unrealized appreciation (depreciation) from investments, foreign currency translations and forward foreign currency contracts |
(1,149,136 |
) |
4,865,930 |
|||||
Net increase in net assets resulting from operations |
7,971,336 |
14,982,813 |
||||||
From Distributions |
||||||||
From distributable earnings |
(12,420,712 |
) |
(13,249,216 |
) | ||||
Return of capital |
(2,382,127 |
) |
(1,267,716 |
) | ||||
Net decrease in net assets resulting from distributions |
(14,802,839 |
) |
(14,516,932 |
) | ||||
From Capital Share Transactions |
||||||||
Net proceeds from at-the-market |
— |
5,933,483 |
||||||
Reinvestment of distributions |
138,452 |
165,706 |
||||||
Net increase (decrease) in net assets from capital share transactions |
138,452 |
6,099,189 |
||||||
Net increase (decrease) in net assets |
(6,693,051 |
) |
6,565,070 |
|||||
Net Assets |
||||||||
Beginning of year |
162,719,686 |
156,154,616 |
||||||
End of year |
$ |
156,026,635 |
$ |
162,719,686 |
||||
Reconciliation of Net Increase in Net Assets from Operations to Net Cash Provided by Operating Activities |
||||||||
Net increase in net assets resulting from operations |
$ |
7,971,336 |
||||||
Adjustments to Reconcile Net Increase in Net Assets from Operations to Net Cash Provided by Operating Activities |
||||||||
Decrease in interest receivable |
$ |
148,345 |
||||||
Increase in accrued expenses |
86,802 |
|||||||
Decrease in interest payable |
(435,617 |
) |
||||||
Decrease in commitment fees payable |
(32,371 |
) |
||||||
Decrease in prepaid expenses and other assets |
35,701 |
|||||||
Decrease in deferred offering costs |
630,352 |
|||||||
Increase in unfunded loan commitments |
137,173 |
|||||||
Decrease in advisory fees payable |
(9,181 |
) |
||||||
Net amortization of a premium or accretion of a discount on investments |
(1,394,169 |
) |
||||||
Purchases of long-term securities, net of change in payable for investments purchased |
(120,309,938 |
) |
||||||
Sales of long-term securities, net of change in receivable for investments sold |
117,797,790 |
|||||||
Net proceeds from sales (purchases) of short-term securities |
(2,098,835 |
) |
||||||
Net change in unrealized (appreciation) depreciation from investments and forward foreign currency contracts |
1,152,726 |
|||||||
Net realized loss from investments |
2,709,089 |
|||||||
Total adjustments |
(1,582,133 |
) | ||||||
Net cash provided by operating activities 1 |
$ |
6,389,203 |
||||||
Cash Flows From Financing Activities |
||||||||
Borrowings on revolving credit facility |
12,000,000 |
|||||||
Repayments of credit facility |
(5,000,000 |
) |
||||||
Cash distributions paid |
(14,664,387 |
) |
||||||
Net cash used in financing activities |
(7,664,387 |
) | ||||||
Net decrease in cash |
(1,275,184 |
) | ||||||
Cash — beginning of year |
32,621 |
|||||||
Cash — end of year |
$ |
(1,242,563 |
) | |||||
Non-Cash Activity: |
||||||||
Issuance of shares through dividend reinvestments |
$ |
138,452 |
||||||
1 |
Included in net cash provided by operating activities is cash of $3,712,403 paid for interest on borrowings. |
For the Year Ended December 31, |
||||||||||||||||||||
2025 |
2024 |
2023 |
2022 |
2021 |
||||||||||||||||
Per share operating performance |
||||||||||||||||||||
Net asset value, beginning of year |
$ |
2.97 |
$ |
2.96 |
$ |
2.73 |
$ |
3.43 |
$ |
3.42 |
||||||||||
INVESTMENT OPERATIONS |
||||||||||||||||||||
Net investment income 1 |
0.22 |
0.25 |
0.25 |
0.23 |
0.23 |
|||||||||||||||
Net gain (loss) from investments, foreign currency transactions and forward foreign currency contracts(both realized and unrealized) |
(0.08 |
) |
0.03 |
0.25 |
(0.66 |
) |
0.05 |
|||||||||||||
Total from investment activities |
0.14 |
0.28 |
0.50 |
(0.43 |
) |
0.28 |
||||||||||||||
LESS DIVIDENDS AND DISTRIBUTIONS |
||||||||||||||||||||
Dividends from net investment income |
(0.23 |
) |
(0.25 |
) |
(0.25 |
) |
(0.23 |
) |
(0.24 |
) | ||||||||||
Return of capital |
(0.04 |
) |
(0.02 |
) |
(0.02 |
) |
(0.04 |
) |
(0.03 |
) | ||||||||||
Total dividends and distributions |
(0.27 |
) |
(0.27 |
) |
(0.27 |
) |
(0.27 |
) |
(0.27 |
) | ||||||||||
Net asset value, end of year |
$ |
2.84 |
$ |
2.97 |
$ |
2.96 |
$ |
2.73 |
$ |
3.43 |
||||||||||
Per share market value, end of year |
$ |
2.83 |
$ |
2.89 |
$ |
3.13 |
$ |
2.52 |
$ |
3.43 |
||||||||||
TOTAL INVESTMENT RETURN 2 |
||||||||||||||||||||
Net asset value |
4.96 |
% |
9.86 |
% |
19.65 |
% |
(12.46 |
)% |
8.51 |
% | ||||||||||
Market value |
7.86 |
% |
0.74 |
% |
37.07 |
% |
(19.19 |
)% |
17.82 |
% | ||||||||||
RATIOS AND SUPPLEMENTAL DATA |
||||||||||||||||||||
Net assets, end of year (000s omitted) |
$ |
156,027 |
$ |
162,720 |
$ |
156,155 |
$ |
143,914 |
$ |
179,614 |
||||||||||
Ratio of expenses to average net assets |
3.70 |
% |
2.96 |
% |
3.10 |
% |
1.91 |
% |
1.07 |
% | ||||||||||
Ratio of expenses to average net assets excluding interest expense |
1.65 |
% |
0.97 |
% |
0.88 |
% |
0.89 |
% |
0.80 |
% | ||||||||||
Ratio of net investment income to average net assets |
7.48 |
% |
8.28 |
% |
8.79 |
% |
7.79 |
% |
6.70 |
% | ||||||||||
Asset Coverage per $1,000 of Indebtedness |
$ |
3,438 |
$ |
3,855 |
$ |
3,974 |
$ |
3,379 |
$ |
4,070 |
||||||||||
Outstanding senior securities (000s omitted) |
$ |
64,000 |
$ |
57,000 |
$ |
52,500 |
$ |
60,500 |
$ |
58,500 |
||||||||||
Portfolio turnover rate 3 |
54 |
% |
60 |
% |
39 |
% |
42 |
% |
53 |
% | ||||||||||
1 |
Per share information is calculated using the average shares outstanding method. |
2 |
Total investment return at net asset value is based on changes in the net asset value of Fund shares and assumes reinvestment of distributions, if any, at actual prices pursuant to the Fund’s dividend reinvestment program. Total investment return at market value is based on changes in the market price at which the Fund’s shares traded on the stock exchange during the period and assumes reinvestment of distributions, if any, at actual prices pursuant to the Fund’s dividend reinvestment program. Because the Fund’s shares trade in the stock market based on investor demand, the Fund may trade at a price higher or lower than its NAV. Therefore, returns are calculated based on NAV and market price. |
3 |
Portfolio turnover is calculated by dividing the lesser of total purchases or sales of portfolio securities for the reporting period by the monthly average of portfolio securities owned during the reporting period. Excluded from both the numerator and denominator are amounts relating to derivatives and securities whose maturities or expiration dates at the time of acquisition were one year or less. |
For the Year Ended December 31, |
||||||||||||||||||||
2020 |
2019 |
2018 |
2017 |
2016 |
||||||||||||||||
Per share operating performance |
||||||||||||||||||||
Net asset value, beginning of year |
$ |
3.48 |
$ |
3.21 |
$ |
3.58 |
$ |
3.48 |
$ |
3.21 |
||||||||||
INVESTMENT OPERATIONS |
||||||||||||||||||||
Net investment income 1 |
0.27 |
0.26 |
0.27 |
0.24 |
0.25 |
|||||||||||||||
Net gain (loss) on investments, foreign currency transactions and forward foreign currency contracts (both realized and unrealized) |
(0.06 |
) |
0.28 |
(0.37 |
) |
0.12 |
0.28 |
|||||||||||||
Total from investment activities |
0.21 |
0.54 |
(0.10 |
) |
0.36 |
0.53 |
||||||||||||||
LESS DIVIDENDS AND DISTRIBUTIONS |
||||||||||||||||||||
Dividends from net investment income |
(0.27 |
) |
(0.27 |
) |
(0.27 |
) |
(0.24 |
) |
(0.25 |
) | ||||||||||
Return of capital |
— |
(0.00 |
) 2 |
— |
(0.02 |
) |
(0.01 |
) | ||||||||||||
Total dividends and distributions |
(0.27 |
) |
(0.27 |
) |
(0.27 |
) |
(0.26 |
) |
(0.26 |
) | ||||||||||
Net asset value, end of year |
$ |
3.42 |
$ |
3.48 |
$ |
3.21 |
$ |
3.58 |
$ |
3.48 |
||||||||||
Per share market value, end of year |
$ |
3.15 |
$ |
3.22 |
$ |
2.77 |
$ |
3.31 |
$ |
3.16 |
||||||||||
TOTAL INVESTMENT RETURN 3 |
||||||||||||||||||||
Net asset value |
8.08 |
% |
18.17 |
% |
(2.39 |
)% |
11.34 |
% |
18.64 |
% | ||||||||||
Market value |
7.58 |
% |
26.71 |
% |
(8.89 |
)% |
13.37 |
% |
24.39 |
% | ||||||||||
RATIOS AND SUPPLEMENTAL DATA |
||||||||||||||||||||
Net assets, end of year (000s omitted) |
$ |
178,641 |
$ |
182,030 |
$ |
167,897 |
$ |
187,472 |
$ |
182,019 |
||||||||||
Ratio of expenses to average net assets |
1.25 |
% |
1.92 |
% |
1.82 |
% |
1.06 |
% |
0.74 |
% | ||||||||||
Ratio of expenses to average net assets excluding interest expense |
0.75 |
% |
0.78 |
% |
0.78 |
% |
0.90 |
% |
0.74 |
% | ||||||||||
Ratio of net investment income to average net assets |
8.55 |
% |
7.59 |
% |
7.83 |
% |
6.75 |
% |
7.66 |
% | ||||||||||
Asset Coverage per $1,000 of Indebtedness |
$ |
4,162 |
$ |
4,021 |
$ |
3,373 |
$ |
5,075 |
$ |
— |
||||||||||
Outstanding senior securities (000s omitted) |
$ |
56,500 |
$ |
60,250 |
$ |
70,750 |
$ |
46,000 |
$ |
— |
||||||||||
Portfolio turnover rate 4 |
36 |
% |
35 |
% |
39 |
% |
64 |
% |
53 |
% | ||||||||||
1 |
Per share information is calculated using the average shares outstanding method. |
2 |
This amount represents less than $(0.01) per share. |
3 |
Total investment return at net asset value is based on the change in the net asset value of Fund shares and assumes reinvestment of dividends and distributions, if any, at actual prices pursuant to the Fund’s dividend reinvestment program. Total investment return at market value is based on the change in the market price at which the Fund’s shares traded on the stock exchange during the period and assumes reinvestment of dividends and distributions, if any, at actual prices pursuant to the Fund’s dividend reinvestment program. Because the Fund’s shares trade in the stock market based on investor demand, the Fund may trade at a price higher or lower than its NAV. Therefore, returns are calculated based on NAV and share price. |
4 |
Portfolio turnover is calculated by dividing the lesser of total purchases or sales of portfolio securities for the reporting period by the monthly average of portfolio securities owned during the reporting period. Excluded from both the numerator and denominator are amounts relating to derivatives and securities whose maturities or expiration dates at the time of acquisition were one year or less. |
| • | Level 1 — quoted prices in active markets for identical investments |
| • | Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.) |
| • | Level 3 — significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments) |
Assets |
Level 1 |
Level 2 |
Level 3 |
Total |
||||||||||||
Investments in Securities |
||||||||||||||||
Corporate Bonds |
$ | — | $ | 176,515,112 | $ | 28,839 | $ | 176,543,951 | ||||||||
Bank Loans |
— | 24,542,080 | 3,028,017 1 |
27,570,097 | ||||||||||||
Asset Backed Securities |
— | 9,374,605 | — | 9,374,605 | ||||||||||||
Common Stocks |
— | 1,172,314 | 152,125 1 |
1,324,439 | ||||||||||||
Warrants |
— | — | 0 1 |
0 | ||||||||||||
Short-term Investments |
21,079,312 | — | — | 21,079,312 | ||||||||||||
| $ | 21,079,312 | $ | 211,604,111 | $ | 3,208,981 | $ | 235,892,404 | |||||||||
Other Financial Instruments* |
||||||||||||||||
Forward Foreign Currency Contracts |
$ | — | $ | 10,663 | $ | — | $ | 10,663 | ||||||||
Liabilities |
||||||||||||||||
Other Financial Instruments* |
||||||||||||||||
Forward Foreign Currency Contracts |
$ | — | $ | 2,826 | $ | — | $ | 2,826 | ||||||||
1 |
Included a zero valued security. |
| * | Other financial instruments include unrealized appreciation (depreciation) on forward foreign currency contracts. |
Corporate Bonds |
Bank Loans |
Common Stocks |
Warrants |
Total |
||||||||||||||||
Balance as of December 31, 2024 |
$ | 202,210 | $ | 4,940,122 | $ | 2,117 | $ | 0 | (1) |
$ | 5,144,449 | |||||||||
Accrued discounts (premiums) |
— | 54,214 | — | — | 54,214 | |||||||||||||||
Purchases |
— | 1,916,077 | 203,863 | — | 2,119,940 | |||||||||||||||
Sales |
(20,937 | ) | (2,387,142 | ) | — | — | (2,408,079 | ) | ||||||||||||
Realized gain (loss) |
— | (122,538 | ) | — | — | (122,538 | ) | |||||||||||||
Change in unrealized appreciation (depreciation) |
(152,434 | ) | (174,290 | ) | (53,855 | ) | — | (380,579 | ) | |||||||||||
Transfers into Level 3 |
— | 207,923 | — | — | 207,923 | |||||||||||||||
Transfers out of Level 3 |
— | (1,406,349 | ) | — | — | (1,406,349 | ) | |||||||||||||
Balance as of December 31, 2025 |
$ | 28,839 | $ | 3,028,017 | $ | 152,125 | $ | 0 | (1) |
$ | 3,208,981 | |||||||||
Net change in unrealized appreciation (depreciation) from investments still held as of December 31, 2025 |
$ | (153,535 | ) | $ | (158,555 | ) | $ | (53,854 | ) | $ | — | $ | (365,944 | ) | ||||||
(1) |
Includes a zero valued security. |
Asset Class |
Fair Value At December 31, 2025 |
Valuation Technique |
Unobservable Input |
Price Range (Weighted Average)* |
||||||||||||
Bank Loans |
$ | 3,028,017 | Vendor pricing | Single Broker Quote | $ | 0.07 - $1.01 ($0.92) |
||||||||||
| 0 | Income Approach | Expected Remaining Distribution | 0.00 (N/A) | |||||||||||||
Corporate Bonds |
28,839 | Income Approach | Expected Remaining Distribution | 0.00 – 0.52 (0.52) | ||||||||||||
Common Stocks |
150,009 | Vendor pricing | Single Broker Quote | 0.00 - 10.00 (8.68) |
||||||||||||
| 2,116 | Income Approach | Expected Remaining Distribution | 0.00 - 1.48 (0.84) |
|||||||||||||
Warrant |
0 | Income Approach | Expected Remaining Distribution | 0.00 (N/A) | ||||||||||||
| * | Weighted by relative fair value |
Primary Underlying Risk |
Derivative Assets |
Derivative Liabilities |
Net Realized Gain (Loss) |
Net Change in Unrealized Appreciation (Depreciation) |
||||||||||||
Foreign currency exchange rate contracts |
$ | 10,663 | $ | 2,826 | $ | (111,077 | ) | $ | (173,905 | ) | ||||||
Counterparty |
Gross Amount of Derivative Assets Presented in the Statement of Assets and Liabilities (a) |
Financial Instruments and Derivatives Available for Offset |
Non-Cash Collateral Received |
Cash Collateral Received |
Net Amount of Derivative Assets |
|||||||||||||||
Deutsche Bank AG |
$ | 10,663 | $ | (1,781 | ) | $ | — | $ | — | $ | 8,882 | |||||||||
Counterparty |
Gross Amount of Derivative Liabilities Presented in the Statement of Assets and Liabilities (a) |
Financial Instruments and Derivatives Available for Offset |
Non-Cash Collateral Pledged |
Cash Collateral Pledged |
Net Amount of Derivative Liabilities |
|||||||||||||||
Barclays Bank PLC |
$ | 796 | $ | — | $ | — | $ | — | $ | 796 | ||||||||||
Deutsche Bank AG |
1,781 | (1,781 | ) | — | — | — | ||||||||||||||
Morgan Stanley |
249 | — | — | — | 249 | |||||||||||||||
| $ | 2,826 | $ | (1,781 | ) | $ | — | $ | — | $ | 1,045 | ||||||||||
(a) |
Forward foreign currency contracts are included. |
Borrower |
Maturity |
Rate |
Unfunded Commitment |
|||||||||
Allied Benefit Systems Intermediate LLC |
10/31/30 | 1.000 | % | $ | 137,173 | |||||||
Market Value of Loaned Securities |
Market Value of Cash Collateral |
|||||
| $ | 15,958,962 | $ | 16,281,992 | |||
Gross Asset Amounts Presented in the Statement of Assets and Liabilities (a) |
Collateral Received (b) |
Net Amount |
||||||||
| $ | 15,958,962 | $ | (15,958,962 | ) | $ | — | ||||
(a) |
Represents market value of loaned securities at year end. |
(b) |
The actual collateral received is greater than the amount shown here due to collateral requirements of the security lending agreement. |
Average Daily Loan Balance |
Weighted Average Interest Rate % |
Maximum Daily Loan Outstanding |
Interest Expense |
Number of Days Outstanding |
||||||||||||||
| $ | 62,506,849 | 5.168 | % | $ | 69,000,000 | $ | 3,276,786 | 365 | ||||||||||
Investment Securities |
U.S. Government/ Agency Obligations |
|||||||||||||
Purchases |
Sales |
Purchases |
Sales |
|||||||||||
| $ | 119,823,727 | $ | 117,753,869 | $ | 0 | $ | 0 | |||||||
For the Year Ended December 31, 2025 |
For the Year Ended December 31, 2024 |
|||||||
Shares issued through at-the-market |
— | 1,966,284 | ||||||
Shares issued through reinvestment of dividends |
47,579 | 55,585 | ||||||
Net increase |
47,579 | 2,021,869 | ||||||
Ordinary Income |
Return of Capital |
|||||||||||||
2025 |
2024 |
2025 |
2024 |
|||||||||||
| $ | 12,420,712 | $ | 13,249,216 | $ | 2,382,127 | $ | 1,267,716 | |||||||
Accumulated net realized loss |
$ | (33,037,229 | ) | |
Unrealized depreciation |
(6,326,948 | ) | ||
Other temporary differences |
(226,712 | ) | ||
| $ | (39,590,889 | ) | ||
Cost of Investments |
$ | 242,222,386 | ||
Unrealized appreciation |
$ | 5,336,105 | ||
Unrealized depreciation |
(11,666,087) | |||
Net unrealized appreciation (depreciation) |
$ | (6,329,982) | ||

| • | The Board was satisfied with the nature, extent and quality of the investment advisory services provided to the Fund by UBS AM (Americas) and that, based on dialogue with management and counsel, the services provided by UBS AM (Americas) under the Advisory Agreement are typical of, and consistent with, those provided to similar funds by other investment advisers. |
| • | In light of the costs of providing investment advisory and other services to the Fund and UBS AM (Americas)’s ongoing commitment to the Fund and willingness to base the fee on the Average Weekly Base Amount, UBS AM (Americas)’s net profitability based on fees payable under the Advisory Agreement, as well as other ancillary benefits that UBS AM (Americas) and its affiliates received, were considered reasonable. |
| • | In light of the information received and considered by the Board, the Fund’s current fee structure was considered reasonable. |
| • | debt obligations issued or guaranteed by foreign national, provincial, state, municipal or other governments with taxing authority or by their agencies or instrumentalities; |
| • | debt obligations of supranational entities; |
| • | debt obligations of the U.S. government issued in non-dollar denominated securities; and |
| • | dollar and non-dollar denominated debt obligations and other fixed income securities of foreign and U.S. corporate issuers. |
| • | an imperfect correlation between the price of derivatives and the movement of the securities prices, interest rates or currency exchange rates being hedged or replicated; |
| • | the possible absence of a liquid secondary market for any particular derivative at any time; |
| • | the potential loss if the counterparty to the transaction does not perform as promised; |
| • | the possible need to defer closing out certain positions to avoid adverse tax consequences, as well as the possibility that derivative transactions may result in acceleration of gain, deferral of losses or a change in the character of gain realized; |
| • | the risk that the financial intermediary “manufacturing” the over-the-counter |
| • | because certain derivatives are “manufactured” by financial institutions, the risk that the Fund may develop a substantial exposure to financial institution counterparties; and |
| • | the risk that a full and complete appreciation of the complexity of derivatives and how future value is affected by various factors including changing interest rates, exchange rates and credit quality is not attained. |
| Year Ended 12/31 | Aggregate Amount Outstanding | Asset Coverage per $1,000 of Indebtedness 1 | ||
2025 |
$ |
$ | ||
2024 |
$ |
$ | ||
2023 |
$ |
$ | ||
2022 |
$ |
$ | ||
2021 |
$ |
$ | ||
2020 |
$ |
$ | ||
2019 |
$ |
$ | ||
2018 |
$ |
$ | ||
2017 |
$ |
$ | ||
2016 |
1 |
Asset coverage means the ratio that the value of the Fund’s total assets (including amounts borrowed), minus liabilities other than borrowings, bears to the aggregate amount of all borrowings. |
Price |
Net Asset Value |
Premium/(Discount) To Net Asset Value |
||||||||||||||||||||||
Fiscal Quarter Ended |
High |
Low |
High |
Low |
High |
Low |
||||||||||||||||||
March 31, 2024 |
$ | $ | $ | $ | % | ( |
)% | |||||||||||||||||
June 30, 2024 |
$ | $ | $ | $ | % | ( |
)% | |||||||||||||||||
September 30, 2024 |
$ | $ | $ | $ | % | ( |
)% | |||||||||||||||||
December 31, 2024 |
$ | $ | $ | $ | % | ( |
)% | |||||||||||||||||
March 31, 2025 |
$ | $ | $ | $ | % | ( |
)% | |||||||||||||||||
June 30, 2025 |
$ | $ | $ | $ | % | ( |
)% | |||||||||||||||||
September 30, 2025 |
$ | $ | $ | $ | % | ( |
)% | |||||||||||||||||
December 31, 2025 |
$ | $ | $ | $ | % | ( |
)% | |||||||||||||||||
Shareholder Transaction Expenses |
||||
Sales Load ( |
% (1) | |||
Offering Expenses ( |
% | |||
Dividend Reinvestment Plan Fees |
$ | (2) |
Annual Operating Expenses ( |
||||
Management Fees (3) |
% | |||
Interest Expense on Borrowed Funds (4) |
% | |||
Other Expenses |
% | |||
Total Annual Operating Expenses |
% |
(1) |
Represents the estimated commission with respect to the Fund’s Common Shares sold in this offering, which the Fund paid to JonesTrading in connection with the sales of Common Shares effected by JonesTrading in the offering. While JonesTrading was entitled to a commission of between 1.50% and 3.00% of the gross sales price for Common Shares sold, with the exact amount to be agreed upon by the parties, the Fund has assumed, for purposes of this offering, that JonesTrading received a commission of 1.50% of such gross sales price. This is the only sales load to be paid in connection with this offering. |
(2) |
The Fund bears ongoing expenses associated with the Plan which are included in “Other Expenses.” There is no service fee payable by Plan participants for dividend reinvestments; however, shareholders are subject to other transaction costs associated with the Plan. Actual costs will vary for each participant depending on the return and number of transactions made. For Plan participants that elect to make voluntary cash purchases, Plan participants must pay a service fee of $5.00 per transaction. Plan participants will also be charged a pro rata share of the brokerage commissions for all open market purchases ($0.03 per share as of December 2025). In addition, if a Plan participant elects by written notice to the Plan administrator to have the plan administrator sell part or all of the shares held by the Plan administrator in the participant’s account and remit the proceeds to the participant, the participant will also be charged a service fee of $5.00 for each sale and brokerage commissions of $0.03 per share (as of December 2025). See “Dividend Reinvestment and Cash Purchase Plan.” |
(3) |
(4) |
One Year |
Three Years |
Five Years |
Ten Years |
|||||||||||
| $ | $ | $ | $ | |||||||||||
Name, Address (Year of Birth) |
Position(s) Held with Fund |
Term of Office 1 and Length of Time Served |
Principal Occupation(s) During Past Five Years |
Number of Portfolios in Fund Complex Overseen by Director |
Other Directorships Held by Director During Past Five Years | |||||||
Independent Directors |
||||||||||||
Laura A. DeFelice c/o UBS Asset Management (Americas) LLC Attn: General Counsel 1285 Avenue of the Americas New York, New York 10019 (1959) |
Chair of the Board (since November 14, 2023), Nominating Committee and Audit Committee Member | Since 2018; current term ends at the 2028 annual meeting | Managing Member and Founder of Acacia Properties LLC (multi- family and commercial real estate ownership and operation) from 2008 to present; Member and Founder of Stonegate Advisors LLC (renewable energy and energy efficiency) from 2007 to 2025 | 7 | Director of the Lyric Opera of Chicago (performing arts) from December 2021 to present. | |||||||
Charles W. Gerber c/o UBS Asset Management (Americas) LLC 1285 Avenue of the Americas New York, New York 10019 (1955) |
Director, Nominating Committee and Audit Committee Member | Since 2024; current term ends at the 2028 annual meeting | Consultant, Canadian Imperial Bank of Commerce (financial services) from 2016 to present; Senior Adviser, Stoneturn Group, LLP (consulting ) from 2016 to present. | 2 2 |
Director, MA Holdings, Inc. (real estate management) from 2023 to present. | |||||||
1 |
Subject to the Fund’s retirement policy, no Director, Nominating Committee and Audit Committee Member shall be presented to shareholders of the Fund for election at any meeting that is scheduled to occur after he/she has reached the age of 74 and a Director shall automatically be deemed to retire from the Board at the next annual shareholders’ meeting following the date that he/she reaches the age of 75 years even if his/her term of office has not expired on that date. The requirements of the retirement policy may be waived with respect to an individual Director. Each Officer serves until his or her respective successor has been duly elected and qualified. |
2 |
Mr. Gerber also serves on the advisory board of all of the open-end Credit Suisse Funds. |
Name, Address (Year of Birth) |
Position(s) Held with Fund |
Term of Office 1 and Length of Time Served |
Principal Occupation(s) During Past Five Years |
Number of Portfolios in Fund Complex Overseen by Director |
Other Directorships Held by Director During Past Five Years | |||||
Mahendra R. Gupta c/o UBS Asset Management (Americas) LLC Attn: General Counsel 1285 Avenue of the Americas New York, New York 10019 (1956) |
Director, Nominating Committee Member and Audit Committee Chairman | Since 2018 and Audit Committee Chairman since 2019; current term ends at the 2027 annual meeting | Professor, Washington University in St. Louis (education) from 1990 to present; Partner, R.J. Mithaiwala (food manufacturing and retail, India) from 1977 to present; Partner, F.F.B. Corporation (agriculture, India) from 1977 to present; Partner, RPMG Research Corporation (benchmark research) from 2001 to present. | 7 | Director of Caleres Inc. (footwear) from 2012 to present; Director and Board Chair at The Foundation for Barnes-Jewish Hospital (healthcare) from 2018 to present and 2024 to present, respectively; Director of First Bank (finance) from 2023 to present; Director of ENDI Corporation (finance) from 2023 to present; Director of The Oasis Institute (not-for-profit) (not-for-profit) | |||||
Samantha Kappagoda c/o UBS Asset Management (Americas) LLC Attn: General Counsel 1285 Avenue of the Americas New York, New York 10019 (1968) |
Director, Nominating Committee Chair and Audit Committee Member | Since 2023; current term ends at the 2026 annual meeting | Chief Economist, and Co-Founder Risk Economics, Inc. (economic analysis) from 2009 to present; Chief Data Scientist and Co-Managing Member, Numerati Partners LLC (research & development technology strategy) from 2012 to present; Affiliate of Analysis Group, Inc. (Economic Analysis) from 2023 to present. |
7 | Member, Business Board of Governing Council at the University of Toronto from 2024 to present; Director of Girl Scouts of Greater New York (nonprofit) from 2014 to present; Visiting Scholar, Courant Institute of Mathematical Sciences, New York University (education) from 2011 to present; Member, Senior Editorial Advisory Board, Journal of Risk Finance, Emerald Publications (research) from 2005 to present. | |||||
Name, Address (Year of Birth) |
Position(s) Held with Fund |
Term of Office 1 and Length of Time Served |
Principal Occupation(s) During Past Five Years |
Number of Portfolios in Fund Complex Overseen by Director |
Other Directorships Held by Director During Past Five Years | |||||||
Lee M. Shaiman c/o UBS Asset Management (Americas) LLC Attn: General Counsel 1285 Avenue of the Americas New York, New York 10019 (1956) |
Director, Nominating Committee and Audit Committee Member | Since 2024; current term ends at the 2026 annual meeting |
Executive Director and Chief Executive Officer, Loan Syndications and Trading Association (financial trade association) from 2018 to 2024. | 7 | Director of Investcorp Credit Management BDC, Inc. (financial services) from 2019 to present. | |||||||
Interested Director |
||||||||||||
John G. Popp 2 UBS Asset Management (Americas) LLC 1285 Avenue of the Americas New York, New York 10019 (1956) |
Director and Chief Investment Officer; Chief Executive Officer and President (2010-2024). | Director since 2013 Current term ends at the 2027 annual meeting |
Managing Director of UBS AM (Americas); Global Head and Chief Investment Officer of the Credit Investments Group; Associated with Credit Suisse Asset Management, LLC (Credit Suisse) or its predecessor and UBS AM (Americas) since 1997; Officer of other Credit Suisse Funds. | 7 | None. | |||||||
1 |
Subject to the Fund’s retirement policy, no Director shall be presented to shareholders of the Fund for election at any meeting that is scheduled to occur after he/she has reached the age of 74 and a Director shall automatically be deemed to retire from the Board at the next annual shareholders’ meeting following the date that he/she reaches the age of 75 years even if his/her term of office has not expired on that date. The requirements of the retirement policy may be waived with respect to an individual Director. |
2 |
Mr. Popp is an “interested person” of the Fund as defined in the 1940 Act, by virtue of his current position as an officer of UBS AM (Americas). |
Name, Address (Year of Birth) |
Position(s) Held with Fund |
Term of Office and Length of Time Served |
Principal Occupation(s) During Past Five Years | |||
Officers* |
||||||
Omar Tariq UBS Asset Management (Americas) LLC 1285 Avenue of the Americas New York, New York 10019 (1983) |
Chief Executive Officer and President since 2024 | Since 2024 | Executive Director of UBS AM (Americas) since May 2024; Director of Credit Suisse from March 2019 to May 2024; Chief Financial Officer and Treasurer of the Credit Suisse Funds from 2019 to 2024; Associated with Credit Suisse and UBS AM (Americas) since May 2019; Senior Manager of PriceWaterhouseCoopers, LLP from September 2010 to March 2019; Officer of other Credit Suisse Funds. | |||
Brandi Sinkovich UBS Asset Management (Americas) LLC 1285 Avenue of the Americas New York, New York 10019 (1979) |
Chief Compliance Officer | Since 2023 | Executive Director of UBS AM (Americas) since May 2024; Director of Credit Suisse from January 2023 to May 2024; Vice President and Regulatory Counsel, Exos Financial from 2022 to 2023; Vice President and Compliance Officer, Neuberger Berman from 2019 to 2022; Vice President, Compliance, Goldman Sachs from 2017 to 2019; Associated with Credit Suisse and UBS AM (Americas) since January 2023; Officer of other Credit Suisse Funds. | |||
Lou Anne McInnis UBS Asset Management (Americas) LLC Eleven Madison Avenue New York, New York 10010 (1959) |
Chief Legal Officer | Since 2015 | Executive Director of UBS AM (Americas) LLC since May 2024; Director of Credit Suisse from April 2015 to May 2024; Associated with Credit Suisse and UBS AM (Americas) since April 2015; Counsel at DLA Piper US LLP from 2011 to April 2015; Associated with Morgan Stanley Investment Management from 1997 to 2010; Officer of other Credit Suisse Funds. | |||
Rose Ann Bubloski UBS Asset Management (Americas) LLC 1285 Avenue of the Americas New York, New York 10019 (1968) |
Chief Financial Officer and Treasurer | Since 2024 | Director and Senior Manager of UBS Asset Management (Americas) LLC since 2011; Associated with UBS since March 1994; Officer of other Credit Suisse Funds. | |||
Karen Regan UBS Asset Management (Americas) LLC Eleven Madison Avenue New York, New York 10010 (1963) |
Senior Vice President and Secretary since 2024 | Since 2010 | Director of UBS AM (Americas) since May 2024; Vice President of Credit Suisse from January 2008 to May 2024; Associated with Credit Suisse and UBS AM (Americas) since December 2004; Officer of other Credit Suisse Funds. | |||
| * | The officers of the Fund shown are officers that make policy decisions. |
| • | By calling 1-800-293-1232 |
| • | On the Fund’s website, https://us-fund.ubs.com/en/home |
| • | On the website of the Securities and Exchange Commission (“SEC”) at www.sec.gov |
Literature Request 1-800-293-1232 |
| Credit Suisse Commodity Return Strategy Fund | Credit Suisse Strategic Income Fund | |
| Credit Suisse Floating Rate High Income Fund | Credit Suisse Trust Commodity Return Strategy Portfolio |
| By Internet: | www.computershare.com |
| By phone: | (800) 730-6001 (U.S. and Canada) |
(781) 575-3100 (Outside U.S. and Canada) |
| By mail: | Credit Suisse Asset Management Income Fund, Inc. |
c/o Computershare |
P.O. Box 43006 |
Providence, RI 02940-3006 |
Computershare |
150 Royall St., Suite 101 |
Canton, MA 02021 |
Item 19. Exhibits.
1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
CREDIT SUISSE ASSET MANAGEMENT INCOME FUND, INC.
| /s/ Omar Tariq | ||
| Name: Omar Tariq | ||
| Title: Chief Executive Officer and President | ||
| Date: March 25, 2026 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
| /s/ Omar Tariq | ||
| Name: Omar Tariq | ||
| Title: Chief Executive Officer and President | ||
| Date: March 25, 2026 | ||
| /s/ Rose Ann Bubloski | ||
| Name: Rose Ann Bubloski | ||
| Title: Chief Financial Officer and Treasurer | ||
| Date: March 25, 2026 | ||
3
ATTACHMENTS / EXHIBITS
CERTIFICATION PURSUANT TO SECTION 302
CERTIFICATION PURSUANT TO SECTION 906
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