Form NPORT-P - Monthly Portfolio Investments Report on Form N-PORT (Public)

AB Global High Income Fund

Portfolio of Investments

June 30, 2023 (unaudited)


	Principal Amount (000)			U.S. $ Value

CORPORATES - NON-INVESTMENT GRADE – 55.4%
Industrial – 49.0%
Basic – 3.0%
Advanced Drainage Systems, Inc. 5.00%, 09/30/2027^(a) (b)		U.S.$	140	$	133,239
Arconic Corp. 6.125%, 02/15/2028^(b)			202		204,669
ASP Unifrax Holdings, Inc. 5.25%, 09/30/2028^(b)			851		614,388
7.50%, 09/30/2029^(b)			1,244		778,427
Baffinland Iron Mines Corp./Baffinland Iron Mines LP 8.75%, 07/15/2026^(b)			223		214,614
Cerdia Finanz GmbH 10.50%, 02/15/2027^(b)			419		414,808
Cleveland-Cliffs, Inc. 6.75%, 03/15/2026^(b)			107		108,161
Commercial Metals Co. 4.125%, 01/15/2030			80		71,468
4.375%, 03/15/2032			80		69,433
Constellium SE 3.125%, 07/15/2029^(b)		EUR	1,109		1,019,447
Crown Americas LLC/Crown Americas Capital Corp. VI 4.75%, 02/01/2026		U.S.$	333		322,696
CVR Partners LP/CVR Nitrogen Finance Corp. 6.125%, 06/15/2028^(b)			370		322,326
Domtar Corp. 6.75%, 10/01/2028^(b)			140		119,491
Element Solutions, Inc. 3.875%, 09/01/2028^(b)			1,279		1,116,120
ERP Iron Ore LLC 9.039%, 12/31/2019^{(c) (d) (e) (f) (g)}			240		76,802
FMG Resources (August 2006) Pty Ltd. 4.375%, 04/01/2031^(b)			2,191		1,869,980
4.50%, 09/15/2027^(b)			819		764,082
5.875%, 04/15/2030^(b)			76		71,975
6.125%, 04/15/2032^(b)			2,563		2,436,174
Glatfelter Corp. 4.75%, 11/15/2029^(b)			77		51,087
Graham Packaging Co., Inc. 7.125%, 08/15/2028^(b)			420		358,543
Graphic Packaging International LLC 3.75%, 02/01/2030^(b)			1,661		1,442,236
Hecla Mining Co. 7.25%, 02/15/2028			282		279,591
Hudbay Minerals, Inc. 4.50%, 04/01/2026^(b)			215		200,091
INEOS Quattro Finance 1 PLC 3.75%, 07/15/2026^(b)		EUR	101		97,034
INEOS Quattro Finance 2 PLC 3.375%, 01/15/2026^(b)		U.S.$	426		388,879


	Principal Amount (000)			U.S. $ Value

Ingevity Corp. 3.875%, 11/01/2028^(b)		U.S.$	495	$	422,893
Intelligent Packaging Holdco Issuer LP 9.00% (9.00% Cash or 9.75% PIK), 01/15/2026^{(b) (g)}			611		461,517
Intelligent Packaging Ltd. Finco, Inc./Intelligent Packaging Ltd. Co-Issuer LLC 6.00%, 09/15/2028^(b)			620		531,813
Kobe US Midco 2, Inc. 9.25% (9.25% Cash or 10.00% PIK), 11/01/2026^{(b) (g)}			1,300		861,219
LABL, Inc. 6.75%, 07/15/2026^(b)			222		218,331
Magnetation LLC/Mag Finance Corp. 11.00%, 05/15/2018^{(c) (d) (e) (f) (h)}			2,857		0
Mercer International, Inc. 5.125%, 02/01/2029			131		101,948
Methanex Corp. 5.125%, 10/15/2027			138		128,970
5.25%, 12/15/2029			16		14,611
Mineral Resources Ltd. 8.00%, 11/01/2027^(b)			192		193,142
8.125%, 05/01/2027^(b)			158		158,361
Novelis Corp. 3.25%, 11/15/2026^(b)			61		55,274
3.875%, 08/15/2031^(b)			19		15,681
4.75%, 01/30/2030^(b)			135		119,989
Olympus Water US Holding Corp. 4.25%, 10/01/2028^(b)			237		187,310
7.125%, 10/01/2027^(b)			755		685,397
9.75%, 11/15/2028^(b)			1,750		1,706,509
Rain CII Carbon LLC/CII Carbon Corp. 7.25%, 04/01/2025^(b)			224		217,011
Roller Bearing Co. of America, Inc. 4.375%, 10/15/2029^(b)			143		128,076
SCIH Salt Holdings, Inc. 4.875%, 05/01/2028^(b)			68		60,971
SCIL IV LLC/SCIL USA Holdings LLC 4.375%, 11/01/2026^(b)		EUR	320		314,130
5.375%, 11/01/2026^(b)		U.S.$	1,039		945,336
Sealed Air Corp. 6.875%, 07/15/2033^(b)			564		585,009
Sealed Air Corp./Sealed Air Corp. US 6.125%, 02/01/2028^(b)			546		541,941
SPCM SA 3.125%, 03/15/2027^(b)			655		586,997
3.375%, 03/15/2030^(b)			951		792,157
SunCoke Energy, Inc. 4.875%, 06/30/2029^(b)			145		122,324


	Principal Amount (000)			U.S. $ Value

Trinseo Materials Operating SCA/Trinseo Materials Finance, Inc. 5.375%, 09/01/2025^(b)		U.S.$	256	$	212,470
Tronox, Inc. 4.625%, 03/15/2029^(b)			98		81,366
United States Steel Corp. 6.65%, 06/01/2037			37		35,554
6.875%, 03/01/2029			110		108,810
Vibrantz Technologies, Inc. 9.00%, 02/15/2030^(b)			3,258		2,496,421
WR Grace Holdings LLC 4.875%, 06/15/2027^(b)			1,106		1,029,851
5.625%, 08/15/2029^(b)			61		49,850

					27,717,000


Capital Goods – 4.2%
ARD Finance SA 5.00% (5.00% Cash or 5.75% PIK), 06/30/2027^{(b) (g)}		EUR	3,069		2,589,358
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC 4.00%, 09/01/2029^(b)		U.S.$	985		781,834
6.00%, 06/15/2027^(b)			684		672,397
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc. 4.125%, 08/15/2026^(b)			2,663		2,481,474
5.25%, 08/15/2027^(b)			235		200,286
Artera Services LLC 9.033%, 12/04/2025^(b)			399		349,295
Ball Corp. 6.00%, 06/15/2029			1,607		1,595,208
Bombardier, Inc. 6.00%, 02/15/2028^(b)			183		172,971
7.125%, 06/15/2026^(b)			217		215,556
7.50%, 02/01/2029^(b)			377		372,643
7.875%, 04/15/2027^(b)			1,426		1,422,656
Calderys Financing LLC 11.25%, 06/01/2028^(b)			2,089		2,135,095
Camelot Return Merger Sub, Inc. 8.75%, 08/01/2028^(b)			196		185,913
Clean Harbors, Inc. 4.875%, 07/15/2027^(b)			187		179,268
6.375%, 02/01/2031^(b)			11		11,075
Crown Americas LLC 5.25%, 04/01/2030			411		391,548
Eco Material Technologies, Inc. 7.875%, 01/31/2027^(b)			2,622		2,510,187
Emerald Debt Merger Sub LLC 6.625%, 12/15/2030^(b)			631		626,122
Energizer Holdings, Inc. 4.75%, 06/15/2028^(b)			407		363,193


	Principal Amount (000)			U.S. $ Value

EnerSys 4.375%, 12/15/2027^(b)		U.S.$	935	$	865,381
Enviri Corp. 5.75%, 07/31/2027^(b)			1,384		1,202,504
F-Brasile SpA/F-Brasile US LLC Series XR 7.375%, 08/15/2026^(b)			957		867,268
Griffon Corp. 5.75%, 03/01/2028			603		563,928
JELD-WEN, Inc. 4.625%, 12/15/2025^(b)			128		124,802
LSB Industries, Inc. 6.25%, 10/15/2028^(a) (b)			1,268		1,138,608
Madison IAQ LLC 5.875%, 06/30/2029^(b)			359		291,654
Masonite International Corp. 5.375%, 02/01/2028^(b)			166		157,998
MIWD Holdco II LLC/MIWD Finance Corp. 5.50%, 02/01/2030^(b)			84		69,681
Mueller Water Products, Inc. 4.00%, 06/15/2029^(b)			291		258,571
New Enterprise Stone & Lime Co., Inc. 5.25%, 07/15/2028^(b)			50		45,804
Oscar AcquisitionCo LLC/Oscar Finance, Inc. 9.50%, 04/15/2030^(b)			63		57,857
Renk AG/Frankfurt am Main 5.75%, 07/15/2025^(b)		EUR	1,560		1,667,817
Rolls-Royce PLC 3.625%, 10/14/2025^(b)		U.S.$	918		868,293
Silgan Holdings, Inc. 4.125%, 02/01/2028			213		195,445
Smyrna Ready Mix Concrete LLC 6.00%, 11/01/2028^(b)			53		50,136
Spirit AeroSystems, Inc. 4.60%, 06/15/2028			23		19,280
Stericycle, Inc. 3.875%, 01/15/2029^(b)			696		618,976
Summit Materials LLC/Summit Materials Finance Corp. 5.25%, 01/15/2029^(b)			164		155,087
Terex Corp. 5.00%, 05/15/2029^(b)			86		80,495
TK Elevator Holdco GmbH 7.625%, 07/15/2028^(b)			465		423,025
TK Elevator Midco GmbH 4.375%, 07/15/2027^(b)		EUR	885		862,898
TK Elevator US Newco, Inc. 5.25%, 07/15/2027^(b)		U.S.$	525		485,412
TransDigm, Inc. 4.625%, 01/15/2029			491		436,650
4.875%, 05/01/2029			2,049		1,835,580
5.50%, 11/15/2027			175		165,494


	Principal Amount (000)			U.S. $ Value

6.25%, 03/15/2026^(b)		U.S.$	332	$	330,380
6.75%, 08/15/2028^(b)			2,508		2,521,352
Trinity Industries, Inc. 7.75%, 07/15/2028^(b)			1,073		1,081,631
Triumph Group, Inc. 7.75%, 08/15/2025			428		416,053
9.00%, 03/15/2028^(b)			2,516		2,571,905
Trivium Packaging Finance BV 3.75%, 08/15/2026^(b)		EUR	100		100,493
Tutor Perini Corp. 6.875%, 05/01/2025^(b)		U.S.$	61		51,028
Waste Pro USA, Inc. 5.50%, 02/15/2026^(b)			41		38,084
WESCO Distribution, Inc. 7.125%, 06/15/2025^(b)			20		20,235
7.25%, 06/15/2028^(b)			308		314,239

					38,210,123


Communications - Media – 7.1%
Advantage Sales & Marketing, Inc. 6.50%, 11/15/2028^(b)			393		332,052
Allen Media LLC/Allen Media Co-Issuer, Inc. 10.50%, 02/15/2028^(b)			42		21,711
Altice Financing SA 5.00%, 01/15/2028^(b)			1,704		1,362,992
5.75%, 08/15/2029^(b)			3,916		3,031,197
AMC Networks, Inc. 4.25%, 02/15/2029			1,084		583,088
4.75%, 08/01/2025			914		799,047
Arches Buyer, Inc. 6.125%, 12/01/2028^(b)			605		521,660
Banijay Entertainment SASU 3.50%, 03/01/2025^(b)		EUR	210		223,900
5.375%, 03/01/2025^(b)		U.S.$	1,717		1,688,051
CCO Holdings LLC/CCO Holdings Capital Corp. 4.25%, 01/15/2034^(b)			135		102,066
4.50%, 08/15/2030^(b)			4,665		3,886,010
4.50%, 06/01/2033^(b)			3,016		2,368,728
4.75%, 02/01/2032^(b)			6,963		5,666,750
5.125%, 05/01/2027^(b)			327		304,100
6.375%, 09/01/2029^(b)			1,760		1,657,556
7.375%, 03/01/2031^{(b) (i)}			2,762		2,691,669
Clear Channel Outdoor Holdings, Inc. 5.125%, 08/15/2027^(b)			512		465,658
CMG Media Corp. 8.875%, 12/15/2027^(b)			467		331,030
CSC Holdings LLC 4.50%, 11/15/2031^(b)			981		683,795
4.625%, 12/01/2030^(b)			1,142		508,403
5.375%, 02/01/2028^(b)			1,278		1,030,460


	Principal Amount (000)			U.S. $ Value

5.75%, 01/15/2030^(b)		U.S.$	4,531	$	2,139,319
7.50%, 04/01/2028^(b)			1,150		655,500
11.25%, 05/15/2028^(b)			1,024		994,172
Deluxe Corp. 8.00%, 06/01/2029^(b)			17		13,318
DISH DBS Corp. 5.125%, 06/01/2029			2,900		1,352,968
5.25%, 12/01/2026^(b)			2,798		2,256,354
5.75%, 12/01/2028^(b)			2,596		1,942,605
5.875%, 11/15/2024			1,821		1,601,256
7.375%, 07/01/2028			115		61,598
7.75%, 07/01/2026			816		500,438
Gray Escrow II, Inc. 5.375%, 11/15/2031^(b)			1,364		909,240
Gray Television, Inc. 7.00%, 05/15/2027^(b)			36		30,711
iHeartCommunications, Inc. 4.75%, 01/15/2028^(b)			60		45,291
5.25%, 08/15/2027^(b)			1,499		1,146,431
8.375%, 05/01/2027			154		102,528
LCPR Senior Secured Financing DAC 5.125%, 07/15/2029^(b)			2,910		2,446,206
6.75%, 10/15/2027^(b)			200		189,183
Liberty Interactive LLC 3.75%, 02/15/2030^(j)			870		206,358
Lions Gate Capital Holdings LLC 5.50%, 04/15/2029^(b)			27		19,553
McGraw-Hill Education, Inc. 5.75%, 08/01/2028^(b)			1,123		971,028
National CineMedia LLC 5.875%, 04/15/2028^{(b) (c) (k)}			623		189,209
Nexstar Media, Inc. 4.75%, 11/01/2028^(b)			172		149,237
Outfront Media Capital LLC/Outfront Media Capital Corp. 4.625%, 03/15/2030^(b)			376		314,904
Radiate Holdco LLC/Radiate Finance, Inc. 4.50%, 09/15/2026^(b)			1,331		1,062,831
6.50%, 09/15/2028^(b)			124		72,383
Scripps Escrow II, Inc. 3.875%, 01/15/2029^(b)			26		21,007
Sinclair Television Group, Inc. 4.125%, 12/01/2030^(b)			1,613		1,061,874
5.50%, 03/01/2030^{(b) (i)}			944		544,369
Sirius XM Radio, Inc. 3.875%, 09/01/2031^(b)			145		112,151
4.00%, 07/15/2028^(b)			6,092		5,299,956
4.125%, 07/01/2030^(b)			204		166,659
5.00%, 08/01/2027^(b)			837		773,720
5.50%, 07/01/2029^(b)			186		169,645


	Principal Amount (000)			U.S. $ Value

Summer BC Holdco B SARL 5.75%, 10/31/2026^(b)		EUR	1,395	$	1,354,775
Summer BidCo BV 9.00% (9.00% Cash or 9.75% PIK), 11/15/2025^{(b) (g)}			919		887,151
TEGNA, Inc. 5.00%, 09/15/2029		U.S.$	333		288,135
Townsquare Media, Inc. 6.875%, 02/01/2026^(b)			113		108,429
Univision Communications, Inc. 6.625%, 06/01/2027^(b)			1,593		1,537,118
7.375%, 06/30/2030^(b)			1,186		1,130,485
Urban One, Inc. 7.375%, 02/01/2028^(b)			2,221		1,944,227
VZ Secured Financing BV 5.00%, 01/15/2032^(b)			200		161,154
VZ Vendor Financing II BV 2.875%, 01/15/2029^(b)		EUR	885		740,098
Ziggo Bond Co. BV 5.125%, 02/28/2030^(b)		U.S.$	1,124		853,587

					64,787,084


Communications - Telecommunications – 2.3%
Altice France Holding SA 10.50%, 05/15/2027^(b)			448		271,213
Altice France SA/France 3.375%, 01/15/2028^(b)		EUR	885		704,353
5.125%, 07/15/2029^(b)		U.S.$	1,763		1,247,336
5.50%, 10/15/2029^(b)			431		308,795
8.125%, 02/01/2027^(b)			224		192,477
British Telecommunications PLC 4.25%, 11/23/2081^(b)			439		387,707
Connect Finco SARL/Connect US Finco LLC 6.75%, 10/01/2026^(b)			2,240		2,173,415
Consolidated Communications, Inc. 5.00%, 10/01/2028^(b)			795		595,884
6.50%, 10/01/2028^(b)			1,111		875,666
Embarq Corp. 7.995%, 06/01/2036			1,125		687,849
Frontier Communications Holdings LLC 5.875%, 11/01/2029			132		96,360
6.75%, 05/01/2029^(b)			524		406,141
8.625%, 03/15/2031^(b)			73		70,641
8.75%, 05/15/2030^(b)			893		872,541
Hughes Satellite Systems Corp. 6.625%, 08/01/2026			465		436,263
Iliad Holding SASU 6.50%, 10/15/2026^(b)			719		678,831
Intelsat Jackson Holdings SA 5.50%, 08/01/2023^{(c) (e) (f)}			1,675		0


	Principal Amount (000)			U.S. $ Value

Level 3 Financing, Inc. 3.625%, 01/15/2029^(b)		U.S.$	64	$	38,401
3.75%, 07/15/2029^(b)			1,018		612,749
4.25%, 07/01/2028^(b)			791		509,948
4.625%, 09/15/2027^(b)			1,474		1,024,221
10.50%, 05/15/2030^(b)			186		188,806
Lorca Telecom Bondco SA 4.00%, 09/18/2027^(b)		EUR	952		947,852
Lumen Technologies, Inc. 4.50%, 01/15/2029^(b)		U.S.$	68		33,238
Rogers Communications, Inc. 5.25%, 03/15/2082^(b)			27		24,830
Telecom Italia Capital SA 6.00%, 09/30/2034			50		40,294
7.20%, 07/18/2036			451		388,384
7.721%, 06/04/2038			1,565		1,383,604
Telecom Italia SpA/Milano 5.303%, 05/30/2024^(b)			403		391,987
United Group BV 3.625%, 02/15/2028^(b)		EUR	237		205,308
4.625%, 08/15/2028^(b)			481		423,006
8.125% (EURIBOR 3 Month + 4.88%), 02/01/2029^(l)			896		896,323
Vmed O2 UK Financing I PLC 4.25%, 01/31/2031^(b)		U.S.$	530		428,673
4.75%, 07/15/2031^(b)			3,880		3,232,627
Vodafone Group PLC 4.125%, 06/04/2081			208		164,096
5.125%, 06/04/2081			48		34,991
Windstream Escrow LLC/Windstream Escrow Finance Corp. 7.75%, 08/15/2028^(b)			434		359,570
Zayo Group Holdings, Inc. 4.00%, 03/01/2027^(b)			58		40,953
6.125%, 03/01/2028^(b)			128		79,875

					21,455,208


Consumer Cyclical - Automotive – 4.0%
Adient Global Holdings Ltd. 4.875%, 08/15/2026^(b)			400		379,778
8.25%, 04/15/2031^(b)			22		22,362
Allison Transmission, Inc. 3.75%, 01/30/2031^(b)			213		180,734
5.875%, 06/01/2029^(b)			1,163		1,134,984
American Axle & Manufacturing, Inc. 5.00%, 10/01/2029			220		183,121
Aston Martin Capital Holdings Ltd. 15.00% (8.89% Cash and 6.11% PIK), 11/30/2026^{(b) (g)}			1,060		1,141,826
Clarios Global LP/Clarios US Finance Co. 4.375%, 05/15/2026^(b)		EUR	210		218,049
Dana Financing Luxembourg SARL 5.75%, 04/15/2025^(b)		U.S.$	55		54,225


	Principal Amount (000)			U.S. $ Value

Dana, Inc. 4.25%, 09/01/2030		U.S.$	760	$	637,839
5.375%, 11/15/2027			109		103,955
5.625%, 06/15/2028			182		172,168
Dealer Tire LLC/DT Issuer LLC 8.00%, 02/01/2028^(b)			1,116		1,021,553
Exide Technologies (Exchange Priority)
11.00%, 10/31/2024^{(c) (e) (f) (h)}			2,940		0
(First Lien)
11.00%, 10/31/2024^{(c) (e) (f) (h)}			1,207		0
Ford Motor Co. 4.75%, 01/15/2043			107		82,147
5.291%, 12/08/2046			249		204,477
6.10%, 08/19/2032			4,663		4,521,368
Ford Motor Credit Co. LLC 2.70%, 08/10/2026			793		708,007
4.271%, 01/09/2027			220		203,583
4.687%, 06/09/2025			200		192,801
6.80%, 05/12/2028			2,712		2,718,161
6.95%, 06/10/2026			200		201,022
7.35%, 11/04/2027			4,412		4,514,998
Series G
4.389%, 01/08/2026			200		189,529
Goodyear Tire & Rubber Co. (The) 5.25%, 04/30/2031			49		43,159
5.25%, 07/15/2031			62		53,860
IHO Verwaltungs GmbH 3.75% (3.75% Cash or 4.50% PIK), 09/15/2026^{(b) (g)}		EUR	885		902,384
3.875% (3.875% Cash or 4.625% PIK), 05/15/2027^{(b) (g)}			338		332,855
4.75% (4.75% Cash or 5.50% PIK), 09/15/2026^{(b) (g)}		U.S.$	433		397,182
6.00% (6.00% Cash or 6.75% PIK), 05/15/2027^{(b) (g)}			1,984		1,869,793
8.75% (8.75% Cash or 9.50% PIK), 05/15/2028^(g)		EUR	306		344,665
Jaguar Land Rover Automotive PLC 5.50%, 07/15/2029^(b)		U.S.$	1,490		1,275,140
5.875%, 01/15/2028^(b)			1,295		1,171,140
7.75%, 10/15/2025^(b)			1,207		1,209,503
JB Poindexter & Co., Inc. 7.125%, 04/15/2026^(b)			218		213,151
McLaren Finance PLC 7.50%, 08/01/2026^(b)			1,973		1,679,577
PM General Purchaser LLC 9.50%, 10/01/2028^(b)			1,339		1,315,418
Real Hero Merger Sub 2, Inc. 6.25%, 02/01/2029^(b) (i)			1,777		1,456,670
Titan International, Inc. 7.00%, 04/30/2028			1,465		1,368,754
ZF Europe Finance BV 2.00%, 02/23/2026^(a) (b)		EUR	200		198,509


	Principal Amount (000)			U.S. $ Value

ZF Finance GmbH
Series E 2.00%, 05/06/2027^(b)		EUR	200	$	189,717
2.75%, 05/25/2027^(b)			900		873,751
ZF North America Capital, Inc. 4.75%, 04/29/2025^(b)		U.S.$	2,357		2,295,230
6.875%, 04/14/2028^(b)			504		511,248
7.125%, 04/14/2030^(b)			504		513,235

					37,001,628


Consumer Cyclical - Entertainment – 3.2%
AMC Entertainment Holdings, Inc. 7.50%, 02/15/2029^(b)			142		100,144
Carnival Corp. 4.00%, 08/01/2028^(b)			1,739		1,540,503
5.75%, 03/01/2027^(b)			1,336		1,229,017
6.00%, 05/01/2029^(b)			43		38,270
7.625%, 03/01/2026^(b)		EUR	311		328,989
7.625%, 03/01/2026^(b)		U.S.$	246		240,465
9.875%, 08/01/2027^(b)			437		454,907
10.125%, 02/01/2026^(b)		EUR	310		354,467
10.50%, 06/01/2030^(b)		U.S.$	388		411,280
Carnival Holdings Bermuda Ltd. 10.375%, 05/01/2028^(b)			3,714		4,062,939
Carnival PLC 1.00%, 10/28/2029		EUR	202		137,980
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op 5.375%, 04/15/2027		U.S.$	117		111,246
5.50%, 05/01/2025^(b)			2,191		2,174,743
Cinemark USA, Inc. 5.25%, 07/15/2028^(b)			521		462,975
Lindblad Expeditions LLC 6.75%, 02/15/2027^(b)			365		349,174
Motion Bondco DAC 4.50%, 11/15/2027^(b)		EUR	670		636,875
NCL Corp., Ltd. 5.875%, 03/15/2026^(b)		U.S.$	2,072		1,944,910
7.75%, 02/15/2029^(b)			153		145,759
8.375%, 02/01/2028^(b)			637		669,070
NCL Finance Ltd. 6.125%, 03/15/2028^(b)			39		35,171
Royal Caribbean Cruises Ltd. 5.375%, 07/15/2027^(b)			1,321		1,238,538
5.50%, 08/31/2026^(b)			1,165		1,105,420
5.50%, 04/01/2028^(b)			4,238		3,955,113
11.50%, 06/01/2025^(b)			1,012		1,072,872
11.625%, 08/15/2027^(b)			158		171,912
Six Flags Entertainment Corp. 7.25%, 05/15/2031^(b)			1,082		1,053,731
Viking Cruises Ltd. 5.875%, 09/15/2027^(b)			1,558		1,430,653


	Principal Amount (000)			U.S. $ Value

7.00%, 02/15/2029^(b)		U.S.$	1,837	$	1,708,493
9.125%, 07/15/2031^(b)			83		83,867
13.00%, 05/15/2025^(b)			65		68,269
VOC Escrow Ltd. 5.00%, 02/15/2028^(b)			1,822		1,675,217

					28,992,969


Consumer Cyclical - Other – 3.4%
Adams Homes, Inc. 7.50%, 02/15/2025^(b)			598		589,733
Affinity Gaming 6.875%, 12/15/2027^(b)			199		176,243
Beazer Homes USA, Inc. 6.75%, 03/15/2025			355		352,874
Brookfield Residential Properties, Inc./Brookfield Residential US LLC 4.875%, 02/15/2030^(b)			1,127		892,839
5.00%, 06/15/2029^(b)			167		135,063
6.25%, 09/15/2027^(b)			1,233		1,138,707
Builders FirstSource, Inc. 4.25%, 02/01/2032^(b)			244		212,376
6.375%, 06/15/2032^(b)			1,070		1,062,797
Caesars Entertainment, Inc. 6.25%, 07/01/2025^(b)			897		893,021
7.00%, 02/15/2030^(b)			1,321		1,327,431
Castle UK Finco PLC 7.00%, 05/15/2029		GBP	679		687,619
8.573% (EURIBOR 3 Month + 5.25%), 05/15/2028^(l)		EUR	514		492,732
Century Communities, Inc. 3.875%, 08/15/2029^(b)		U.S.$	75		65,054
Churchill Downs, Inc. 4.75%, 01/15/2028^(b)			491		456,243
CP Atlas Buyer, Inc. 7.00%, 12/01/2028^(b)			126		98,709
Everi Holdings, Inc. 5.00%, 07/15/2029^(b)			240		210,865
Five Point Operating Co. LP/Five Point Capital Corp. 7.875%, 11/15/2025^(b)			1,969		1,778,700
Forestar Group, Inc. 3.85%, 05/15/2026^(b)			385		353,934
Hilton Domestic Operating Co., Inc. 3.625%, 02/15/2032^(b)			1,728		1,440,921
3.75%, 05/01/2029^(b)			62		54,986
4.00%, 05/01/2031^(b)			54		46,892
4.875%, 01/15/2030			387		360,811
5.375%, 05/01/2025^(b)			229		226,934
5.75%, 05/01/2028^(b)			246		242,548
Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Esc 4.875%, 07/01/2031^(b)			597		500,896


	Principal Amount (000)			U.S. $ Value

5.00%, 06/01/2029^(b)		U.S.$	1,598	$	1,418,533
Installed Building Products, Inc. 5.75%, 02/01/2028^(b)			291		274,601
Jacobs Entertainment, Inc. 6.75%, 02/15/2029^(b)			131		116,685
Marriott Ownership Resorts, Inc. 4.50%, 06/15/2029^(b)			255		219,956
Mattamy Group Corp. 4.625%, 03/01/2030^(b)			170		147,208
5.25%, 12/15/2027^(b)			214		199,453
MGM Resorts International 4.75%, 10/15/2028			1,047		950,879
5.50%, 04/15/2027			1,163		1,118,067
5.75%, 06/15/2025			30		29,683
Mohegan Tribal Gaming Authority 8.00%, 02/01/2026^(b)			436		413,277
New Home Co., Inc. (The) 7.25%, 10/15/2025^(b)			211		196,013
Playtech PLC 4.25%, 03/07/2026^(b)		EUR	101		107,144
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp. 5.625%, 09/01/2029^(b)		U.S.$	69		52,043
5.875%, 09/01/2031^(b)			39		28,767
Scientific Games Holdings LP/Scientific Games US FinCo, Inc. 6.625%, 03/01/2030^(b)			112		98,575
Shea Homes LP/Shea Homes Funding Corp. 4.75%, 02/15/2028			549		489,775
4.75%, 04/01/2029			911		795,571
Standard Industries, Inc./NJ 4.375%, 07/15/2030^(b)			929		805,082
4.75%, 01/15/2028^(b)			163		151,853
Sugarhouse HSP Gaming Prop Mezz LP/Sugarhouse HSP Gaming Finance Corp. 5.875%, 05/15/2025^(b)			1,785		1,727,184
Taylor Morrison Communities, Inc. 5.75%, 01/15/2028^(b)			292		284,014
Thor Industries, Inc. 4.00%, 10/15/2029^(b)			230		195,287
TopBuild Corp. 4.125%, 02/15/2032^(b)			69		59,150
Travel + Leisure Co. 4.50%, 12/01/2029^(b)			976		837,311
4.625%, 03/01/2030^(b)			2,415		2,043,958
6.00%, 04/01/2027^(a)			112		108,546
6.625%, 07/31/2026^(b)			637		634,570
Universal Entertainment Corp. 8.75%, 12/11/2024^(a) (b)			410		387,468
Wyndham Hotels & Resorts, Inc. 4.375%, 08/15/2028^(b)			727		664,090


	Principal Amount (000)			U.S. $ Value

Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp. 5.25%, 05/15/2027^(b)		U.S.$	781	$	740,244
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp. 5.125%, 10/01/2029^(b)			1,988		1,782,466

					30,876,381


Consumer Cyclical - Restaurants – 0.6%
1011778 BC ULC/New Red Finance, Inc. 3.875%, 01/15/2028^(b)			1,524		1,393,406
4.375%, 01/15/2028^(b)			315		291,064
CEC Entertainment LLC 6.75%, 05/01/2026^(b)			350		334,579
Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc. 4.625%, 01/15/2029^(b)			166		145,987
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC 4.75%, 06/01/2027^(b)			168		162,233
Stonegate Pub Co. Financing 2019 PLC 8.00%, 07/13/2025^(b)		GBP	192		220,991
8.25%, 07/31/2025^(b)			1,245		1,449,660
Yum! Brands, Inc. 3.625%, 03/15/2031		U.S.$	49		42,423
4.625%, 01/31/2032			1,114		1,010,946
4.75%, 01/15/2030^(b)			85		79,798

					5,131,087


Consumer Cyclical - Retailers – 2.4%
Arko Corp. 5.125%, 11/15/2029^(b)			1,035		843,547
Asbury Automotive Group, Inc. 4.625%, 11/15/2029^(b)			852		758,344
5.00%, 02/15/2032^(b)			826		721,684
Bath & Body Works, Inc. 6.625%, 10/01/2030^(b)			1,916		1,851,290
6.75%, 07/01/2036			299		269,449
6.875%, 11/01/2035			587		537,244
7.50%, 06/15/2029			107		108,474
7.60%, 07/15/2037			261		234,653
9.375%, 07/01/2025^(b)			41		43,487
BCPE Ulysses Intermediate, Inc. 7.75% (7.75% Cash or 8.50% PIK), 04/01/2027^{(b) (g)}			518		456,089
Carvana Co. 5.50%, 04/15/2027^(b)			415		282,112
5.875%, 10/01/2028^(b)			1,298		757,615
eG Global Finance PLC 6.75%, 02/07/2025^(b)			228		221,990
Foundation Building Materials, Inc. 6.00%, 03/01/2029^(b)			246		205,472


	Principal Amount (000)		U.S. $ Value

Gap, Inc. (The) 3.625%, 10/01/2029^(b)	U.S.$	27	$	19,112
3.875%, 10/01/2031^(b)		56		38,384
Group 1 Automotive, Inc. 4.00%, 08/15/2028^(b)		276		242,669
Guitar Center, Inc. 8.50%, 01/15/2026^(b)		145		131,987
Kontoor Brands, Inc. 4.125%, 11/15/2029^(b)		894		753,813
LBM Acquisition LLC 6.25%, 01/15/2029^(b)		81		67,047
LCM Investments Holdings II LLC 4.875%, 05/01/2029^(b)		52		44,623
Levi Strauss & Co. 3.50%, 03/01/2031^(b)		746		619,165
Lithia Motors, Inc. 4.375%, 01/15/2031^(b)		60		51,795
LSF9 Atlantis Holdings LLC/Victra Finance Corp. 7.75%, 02/15/2026^(b)		154		143,446
Michaels Cos, Inc. (The) 5.25%, 05/01/2028^(b)		1,475		1,191,045
7.875%, 05/01/2029^(b)		1,356		915,214
Murphy Oil USA, Inc. 5.625%, 05/01/2027		69		67,411
NMG Holding Co., Inc./Neiman Marcus Group LLC 7.125%, 04/01/2026^(b)		2,119		1,969,462
Nordstrom, Inc. 5.00%, 01/15/2044		4		2,780
Penske Automotive Group, Inc. 3.75%, 06/15/2029		1,029		888,616
QVC, Inc. 4.375%, 09/01/2028		5		2,872
4.45%, 02/15/2025		150		132,243
4.75%, 02/15/2027		213		136,513
4.85%, 04/01/2024		133		130,013
Rite Aid Corp. 7.50%, 07/01/2025^(b)		992		589,191
Sonic Automotive, Inc. 4.625%, 11/15/2029^(b)		1,864		1,570,284
4.875%, 11/15/2031^(b)		221		181,224
Specialty Building Products Holdings LLC/SBP Finance Corp. 6.375%, 09/30/2026^(b)		508		480,592
Staples, Inc. 7.50%, 04/15/2026^(b)		2,851		2,349,331
10.75%, 04/15/2027^(b)		1,207		701,588
TPro Acquisition Corp. 11.00%, 10/15/2024^(b)		1,062		1,063,763
Victoria’s Secret & Co. 4.625%, 07/15/2029^(b)		58		42,359
White Cap Buyer LLC 6.875%, 10/15/2028^(b)		226		204,866


	Principal Amount (000)			U.S. $ Value

White Cap Parent LLC 8.25% (8.25% Cash or 9.00% PIK), 03/15/2026^{(b) (g)}		U.S.$	329	$	315,526

					22,338,384


Consumer Non-Cyclical – 6.7%
AdaptHealth LLC 6.125%, 08/01/2028^(b)			288		249,621
AHP Health Partners, Inc. 5.75%, 07/15/2029^(b)			988		851,574
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC 4.625%, 01/15/2027^(b)			615		583,176
4.875%, 02/15/2030^(b)			200		184,625
6.50%, 02/15/2028^(b)			2,469		2,472,889
Bausch Health Americas, Inc. 8.50%, 01/31/2027^(b)			543		298,030
Bausch Health Cos., Inc. 4.875%, 06/01/2028^(b)			2,835		1,687,958
5.25%, 01/30/2030^(b)			8		3,207
5.50%, 11/01/2025^(b)			226		199,767
6.125%, 02/01/2027^(b)			336		215,114
6.25%, 02/15/2029^(b)			911		375,766
7.00%, 01/15/2028^(b)			57		25,368
7.25%, 05/30/2029^(b)			254		108,070
11.00%, 09/30/2028^(b)			403		286,683
Cab Selas 3.375%, 02/01/2028^(b)		EUR	1,880		1,671,340
CD&R Smokey Buyer, Inc. 6.75%, 07/15/2025^(b)		U.S.$	292		272,306
CHS/Community Health Systems, Inc. 4.75%, 02/15/2031^(b)			493		372,526
5.25%, 05/15/2030^(b)			190		150,274
5.625%, 03/15/2027^(b)			573		506,804
6.00%, 01/15/2029^(b)			133		113,100
6.125%, 04/01/2030^(b)			3,702		2,241,719
6.875%, 04/01/2028^(b)			577		338,912
6.875%, 04/15/2029^(b)			1,497		934,772
8.00%, 03/15/2026^(b)			819		797,847
Coty, Inc. 5.00%, 04/15/2026^(b)			133		128,151
DaVita, Inc. 3.75%, 02/15/2031^(b)			687		550,930
4.625%, 06/01/2030^(b)			3,556		3,053,494
Edgewell Personal Care Co. 4.125%, 04/01/2029^(b)			164		143,119
5.50%, 06/01/2028^(b)			81		76,564
Elanco Animal Health, Inc. 6.65%, 08/28/2028^(a) (i)			1,416		1,375,524


	Principal Amount (000)			U.S. $ Value

Embecta Corp. 5.00%, 02/15/2030^(b)		U.S.$	2,581	$	2,144,617
Emergent BioSolutions, Inc. 3.875%, 08/15/2028^(b)			1,516		874,319
Fortrea Holdings, Inc. 7.50%, 07/01/2030^(b)			328		335,740
Garden Spinco Corp. 8.625%, 07/20/2030^(b)			883		953,778
Global Medical Response, Inc. 6.50%, 10/01/2025^(b)			309		170,061
Grifols Escrow Issuer SA 3.875%, 10/15/2028^(b)		EUR	2,222		2,078,919
Gruenenthal GmbH 3.625%, 11/15/2026^(b)			885		907,816
4.125%, 05/15/2028^(b)			1,141		1,154,717
Herbalife Nutrition Ltd./HLF Financing, Inc. 7.875%, 09/01/2025^(b)		U.S.$	200		180,000
Hologic, Inc. 3.25%, 02/15/2029^(b)			246		215,171
IQVIA, Inc. 2.25%, 03/15/2029^(b)		EUR	862		804,160
6.50%, 05/15/2030^(b)		U.S.$	329		332,884
Jazz Securities DAC 4.375%, 01/15/2029^(b)			954		850,148
Kronos Acquisition Holdings, Inc./KIK Custom Products, Inc. 7.00%, 12/31/2027^(b)			1,951		1,726,968
Lamb Weston Holdings, Inc. 4.125%, 01/31/2030^(b)			1,209		1,080,665
Legacy LifePoint Health LLC 4.375%, 02/15/2027^(b)			3,063		2,394,034
6.75%, 04/15/2025^(b)			109		101,242
Mallinckrodt International Finance SA/Mallinckrodt CB LLC 10.00%, 06/15/2029^(b)			1		100
Medline Borrower LP 3.875%, 04/01/2029^(b)			1,738		1,511,660
5.25%, 10/01/2029^(b)			3,373		2,927,823
Newell Brands, Inc. 4.70%, 04/01/2026^(a)			452		424,733
4.875%, 06/01/2025			170		163,977
5.875%, 04/01/2036^(a)			88		73,928
6.00%, 04/01/2046^(a)			41		32,468
6.375%, 09/15/2027			407		390,813
Organon & Co./Organon Foreign Debt Co-Issuer BV 2.875%, 04/30/2028^(b)		EUR	885		837,603
4.125%, 04/30/2028^(b)		U.S.$	915		812,474
5.125%, 04/30/2031^(b)			922		760,521
Oriflame Investment Holding PLC 5.125%, 05/04/2026^(b)			347		159,094


	Principal Amount (000)			U.S. $ Value

Owens & Minor, Inc. 4.50%, 03/31/2029^(b)		U.S.$	47	$	39,364
Performance Food Group, Inc. 4.25%, 08/01/2029^(b)			187		166,492
5.50%, 10/15/2027^(b)			190		183,892
Perrigo Finance Unlimited Co. 4.65%, 06/15/2030^(a)			691		611,495
Post Holdings, Inc. 4.50%, 09/15/2031^(b)			1,564		1,334,725
4.625%, 04/15/2030^(b)			870		762,928
5.50%, 12/15/2029^(b)			529		489,331
Prime Healthcare Services, Inc. 7.25%, 11/01/2025^(b)			225		213,044
Primo Water Holdings, Inc. 4.375%, 04/30/2029^(b)			1,227		1,050,667
Radiology Partners, Inc. 9.25%, 02/01/2028^(b)			649		241,844
RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc. 9.75%, 12/01/2026^(b)			775		650,173
RP Escrow Issuer LLC 5.25%, 12/15/2025^(b)			477		352,026
Simmons Foods Inc/Simmons Prepared Foods Inc/Simmons Pet Food Inc/Simmons Feed 4.625%, 03/01/2029^(b)			27		21,756
Spectrum Brands, Inc. 3.875%, 03/15/2031^(b)			2,079		1,705,172
4.00%, 10/01/2026^(b)		EUR	530		554,034
Teleflex, Inc. 4.625%, 11/15/2027		U.S.$	151		142,745
Tenet Healthcare Corp. 4.375%, 01/15/2030			2,307		2,081,721
6.125%, 10/01/2028			872		839,300
6.125%, 06/15/2030			1,017		1,002,208
Triton Water Holdings, Inc. 6.25%, 04/01/2029^(b)			884		757,066
United Natural Foods, Inc. 6.75%, 10/15/2028^(b)			187		154,960
US Acute Care Solutions LLC 6.375%, 03/01/2026^(b)			3,192		2,732,739
US Renal Care, Inc. 10.625%, 07/15/2027^(b)			616		172,114
Vector Group Ltd. 5.75%, 02/01/2029^(b)			188		163,637
10.50%, 11/01/2026^(b)			188		188,592
Vista Outdoor, Inc. 4.50%, 03/15/2029^(b)			239		196,078

					61,477,766


	Principal Amount (000)			U.S. $ Value

Energy – 4.4%
Aethon United BR LP/Aethon United Finance Corp. 8.25%, 02/15/2026^(b)		U.S.$	151	$	148,633
Ascent Resources Utica Holdings LLC/ARU Finance Corp. 7.00%, 11/01/2026^(b)			428		413,984
Berry Petroleum Co. LLC 7.00%, 02/15/2026^(b)			245		227,184
Blue Racer Midstream LLC/Blue Racer Finance Corp. 7.625%, 12/15/2025^(b)			421		425,555
Buckeye Partners LP 3.95%, 12/01/2026			6		5,443
4.125%, 12/01/2027			214		194,658
4.50%, 03/01/2028^(b)			17		15,348
Callon Petroleum Co. 7.50%, 06/15/2030^(b)			1,004		947,818
8.25%, 07/15/2025			301		300,538
Calumet Specialty Products Partners LP/Calumet Finance Corp. 11.00%, 04/15/2025^(b)			16		16,595
CGG SA 8.75%, 04/01/2027^(b)			422		353,676
Citgo Holding, Inc. 9.25%, 08/01/2024^(b)			478		478,242
CITGO Petroleum Corp. 6.375%, 06/15/2026^(b)			471		455,017
7.00%, 06/15/2025^(b)			1,781		1,748,862
Civitas Resources, Inc. 5.00%, 10/15/2026^(b)			682		647,172
8.375%, 07/01/2028^(b)			1,100		1,112,783
8.75%, 07/01/2031^(b)			1,067		1,083,326
CNX Resources Corp. 6.00%, 01/15/2029^(b)			226		209,811
7.375%, 01/15/2031^(b)			7		6,835
Comstock Resources, Inc. 5.875%, 01/15/2030^(b)			30		26,058
6.75%, 03/01/2029^(b)			294		269,193
Crescent Energy Finance LLC 7.25%, 05/01/2026^(b)			1,005		943,006
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp. 5.625%, 05/01/2027^(b)			182		172,431
6.00%, 02/01/2029^(b)			54		50,410
8.00%, 04/01/2029^(b)			101		102,428
CVR Energy, Inc. 5.25%, 02/15/2025^(b)			223		215,050
Encino Acquisition Partners Holdings LLC 8.50%, 05/01/2028^(b)			1,363		1,244,486
Enerflex Ltd. 9.00%, 10/15/2027^(b)			174		169,558


	Principal Amount (000)		U.S. $ Value

EnLink Midstream Partners LP Series C 9.618% (LIBOR 3 Month + 4.11%), 07/31/2023^{(l) (m)}	U.S.$	2,734	$	2,257,361
EQM Midstream Partners LP 4.50%, 01/15/2029^(b)		811		723,743
4.75%, 01/15/2031^(b)		859		752,037
FTAI Infra Escrow Holdings LLC 10.50%, 06/01/2027^(b)		143		142,992
Genesis Energy LP/Genesis Energy Finance Corp. 6.25%, 05/15/2026		92		87,239
6.50%, 10/01/2025		411		405,031
7.75%, 02/01/2028		440		418,817
8.00%, 01/15/2027		598		583,033
8.875%, 04/15/2030		74		72,297
Global Partners LP/GLP Finance Corp. 6.875%, 01/15/2029		439		408,275
7.00%, 08/01/2027		403		392,300
Gulfport Energy Corp. 6.00%, 10/15/2024^(c)		589		371
6.375%, 05/15/2025^(c)		1,547		975
6.375%, 01/15/2026^(c)		1,710		1,077
6.625%, 05/01/2023^{(c) (d)}		161		101
8.00%, 05/17/2026^(b)		610		613,467
Harbour Energy PLC 5.50%, 10/15/2026^(b)		200		183,174
Harvest Midstream I LP 7.50%, 09/01/2028^(b)		69		68,415
Hess Midstream Operations LP 5.625%, 02/15/2026^(b)		481		473,048
Hilcorp Energy I LP/Hilcorp Finance Co. 5.75%, 02/01/2029^(b)		233		212,326
6.00%, 02/01/2031^(b)		340		305,678
6.25%, 04/15/2032^(b)		96		86,030
Howard Midstream Energy Partners LLC 8.875%, 07/15/2028^(b) (n)		627		630,825
Ithaca Energy North Sea PLC 9.00%, 07/15/2026^(b)		1,388		1,291,610
ITT Holdings LLC 6.50%, 08/01/2029^(b)		2,299		1,932,187
MEG Energy Corp. 5.875%, 02/01/2029^(b)		231		217,115
Moss Creek Resources Holdings, Inc. 7.50%, 01/15/2026^(b)		713		656,421
10.50%, 05/15/2027^(b)		202		193,492
Nabors Industries Ltd. 7.25%, 01/15/2026^(b)		403		376,470
7.50%, 01/15/2028^(b)		2,085		1,828,651
Nabors Industries, Inc. 7.375%, 05/15/2027^(b)		319		303,431


	Principal Amount (000)		U.S. $ Value

Neptune Energy Bondco PLC 6.625%, 05/15/2025^(b)	U.S.$	200	$	199,626
New Fortress Energy, Inc. 6.75%, 09/15/2025^(b)		1,126		1,056,106
NGL Energy Operating LLC/NGL Energy Finance Corp. 7.50%, 02/01/2026^(b)		1,683		1,657,601
Northriver Midstream Finance LP 5.625%, 02/15/2026^(b)		196		183,189
NuStar Logistics LP 6.375%, 10/01/2030		225		215,939
Parkland Corp. 4.50%, 10/01/2029^(b)		220		191,139
4.625%, 05/01/2030^(b)		220		190,844
PBF Holding Co. LLC/PBF Finance Corp. 6.00%, 02/15/2028		216		202,478
7.25%, 06/15/2025		176		175,696
PDC Energy, Inc. 5.75%, 05/15/2026		1,351		1,348,817
Petrofac Ltd. 9.75%, 11/15/2026^(b)		200		157,693
Rockies Express Pipeline LLC 3.60%, 05/15/2025^(b)		174		165,245
6.875%, 04/15/2040^(b)		77		69,561
Southwestern Energy Co. 5.375%, 02/01/2029		187		176,529
8.375%, 09/15/2028		120		125,152
Strathcona Resources Ltd./Alberta 6.875%, 08/01/2026^(b)		227		199,602
Summit Midstream Holdings LLC/Summit Midstream Finance Corp. 9.00%, 10/15/2026^{(a) (b)}		1,086		1,054,728
Sunoco LP/Sunoco Finance Corp. 4.50%, 05/15/2029		114		101,186
5.875%, 03/15/2028		774		744,177
6.00%, 04/15/2027		192		189,570
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp. 6.00%, 12/31/2030^(b)		160		141,006
6.00%, 09/01/2031^(b)		151		130,017
Tap Rock Resources LLC 7.00%, 10/01/2026^(b)		86		88,540
Topaz Solar Farms LLC 5.75%, 09/30/2039^(b)		186		182,469
Transocean, Inc. 8.75%, 02/15/2030^(b)		129		130,982
11.50%, 01/30/2027^(b)		211		219,310
USA Compression Partners LP/USA Compression Finance Corp. 6.875%, 09/01/2027		4		3,821
Venture Global Calcasieu Pass LLC 4.125%, 08/15/2031^(b)		890		766,252
Venture Global LNG, Inc. 8.125%, 06/01/2028^(b)		1,108		1,126,901


	Principal Amount (000)			U.S. $ Value

8.375%, 06/01/2031^(b)		U.S.$	1,107	$	1,117,747
Weatherford International Ltd. 8.625%, 04/30/2030^(b)			175		177,801

					40,091,813


Other Industrial – 0.3%
AECOM 5.125%, 03/15/2027			221		213,636
American Builders & Contractors Supply Co., Inc. 4.00%, 01/15/2028^(b)			100		91,168
Grand Canyon University 4.125%, 10/01/2024			223		211,029
Ritchie Bros Holdings, Inc. 6.75%, 03/15/2028^(b)			908		918,358
7.75%, 03/15/2031^(b)			840		873,994

					2,308,185


Services – 3.3%
ADT Security Corp. (The) 4.875%, 07/15/2032^(b)			1,097		942,501
Allied Universal Holdco LLC/Allied Universal Finance Corp. 6.00%, 06/01/2029^(b)			327		242,273
6.625%, 07/15/2026^(b)			312		295,976
9.75%, 07/15/2027^(b)			1,601		1,409,995
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL 3.625%, 06/01/2028^(b)		EUR	255		221,393
4.625%, 06/01/2028^(b)		U.S.$	1,727		1,456,014
4.875%, 06/01/2028^(b)		GBP	1,010		996,930
AMN Healthcare, Inc. 4.625%, 10/01/2027^(b)		U.S.$	205		190,323
ANGI Group LLC 3.875%, 08/15/2028^(b)			2,420		1,979,133
APX Group, Inc. 5.75%, 07/15/2029^(b)			1,504		1,307,585
6.75%, 02/15/2027^(b)			676		663,160
Aramark Services, Inc. 5.00%, 02/01/2028^(b)			1,064		1,002,651
Block, Inc. 2.75%, 06/01/2026			623		567,273
3.50%, 06/01/2031			1,592		1,320,373
Brink’s Co. (The) 4.625%, 10/15/2027^(b)			176		163,771
Cars.com, Inc. 6.375%, 11/01/2028^(b)			830		771,148
CoreLogic, Inc. 4.50%, 05/01/2028^(b)			119		95,967
Garda World Security Corp. 4.625%, 02/15/2027^(b)			102		93,425
6.00%, 06/01/2029^(b)			179		147,198


	Principal Amount (000)			U.S. $ Value

7.75%, 02/15/2028^(b)		U.S.$	1,333	$	1,330,606
9.50%, 11/01/2027^(b)			479		462,832
Gartner, Inc. 3.625%, 06/15/2029^(b)			237		208,999
4.50%, 07/01/2028^(b)			210		196,851
GrubHub Holdings, Inc. 5.50%, 07/01/2027^(b)			234		135,177
IHS Markit Ltd. 4.75%, 08/01/2028			104		100,665
ION Trading Technologies SARL 5.75%, 05/15/2028^(b)			1,067		918,787
Korn Ferry 4.625%, 12/15/2027^(b)			402		377,734
Millennium Escrow Corp. 6.625%, 08/01/2026^(b)			1,619		1,188,515
Monitronics International, Inc. 0.00%, 04/01/2020^{(c) (d) (e) (f)}			958		0
MPH Acquisition Holdings LLC 5.50%, 09/01/2028^(b)			1,922		1,638,110
5.75%, 11/01/2028^{(b) (i)}			3,593		2,704,318
Neptune Bidco US, Inc. 9.29%, 04/15/2029^(b)			2,563		2,353,632
Prime Security Services Borrower LLC/Prime Finance, Inc. 3.375%, 08/31/2027^(b)			618		545,294
5.25%, 04/15/2024^(b)			19		18,833
6.25%, 01/15/2028^(b)			1,634		1,530,092
Q-Park Holding I BV 1.50%, 03/01/2025^(b)		EUR	184		192,171
2.00%, 03/01/2027^(b)			579		538,808
Rakuten Group, Inc. 10.25%, 11/30/2024^(b)		U.S.$	402		398,034
Service Corp. International/US 3.375%, 08/15/2030			259		216,640
4.00%, 05/15/2031			166		142,027
Shutterfly Finance LLC 8.50% (4.25% Cash and 4.25% PIK), 10/01/2027^{(a) (b) (g)}			58		35,483
9.75%, 10/01/2027^(b)			7		6,939
Sotheby’s 7.375%, 10/15/2027^(b)			212		190,907
Sotheby’s/Bidfair Holdings, Inc. 5.875%, 06/01/2029^(b)			205		159,014
TriNet Group, Inc. 3.50%, 03/01/2029^(b)			238		207,381
Verscend Escrow Corp. 9.75%, 08/15/2026^(b)			551		551,636
WASH Multifamily Acquisition, Inc. 5.75%, 04/15/2026^(b)			26		24,348


	Principal Amount (000)		U.S. $ Value

ZipRecruiter, Inc. 5.00%, 01/15/2030^(b)	U.S.$	25	$	21,378

				30,262,300


Technology – 2.6%
Ahead DB Holdings LLC 6.625%, 05/01/2028^(b)		725		589,559
AthenaHealth Group, Inc. 6.50%, 02/15/2030^(b)		1,754		1,475,245
Cablevision Lightpath LLC 5.625%, 09/15/2028^(b)		1,060		787,259
Central Parent, Inc./CDK Global, Inc. 7.25%, 06/15/2029^(b)		164		162,134
Cloud Software Group, Inc. 6.50%, 03/31/2029^(b)		216		192,002
CommScope Technologies LLC 5.00%, 03/15/2027^(b)		255		177,960
CommScope, Inc. 4.75%, 09/01/2029^(b)		637		503,083
6.00%, 03/01/2026^(b)		276		258,275
8.25%, 03/01/2027^(b)		86		68,771
Conduent Business Services LLC/Conduent State & Local Solutions, Inc. 6.00%, 11/01/2029^(b)		18		14,805
Consensus Cloud Solutions, Inc. 6.50%, 10/15/2028^(b)		51		43,693
CWT Travel Group, Inc. 8.50%, 11/19/2026^(b)		321		176,127
Diebold Nixdorf, Inc. 9.375%, 07/15/2025^(b) (c)		51		9,411
Entegris Escrow Corp. 5.95%, 06/15/2030^(b)		1,146		1,099,866
Fair Isaac Corp. 4.00%, 06/15/2028^(b)		228		209,293
Gen Digital, Inc. 6.75%, 09/30/2027^(b)		1,271		1,268,143
7.125%, 09/30/2030^(b)		771		772,498
GoTo Group, Inc. 5.50%, 09/01/2027^(b)		1,677		936,079
Imola Merger Corp. 4.75%, 05/15/2029^(b)		968		844,128
MicroStrategy, Inc. 6.125%, 06/15/2028^(b)		363		325,270
NCR Corp. 5.125%, 04/15/2029^(b)		963		852,569
5.75%, 09/01/2027^(b)		89		88,994
ON Semiconductor Corp. 3.875%, 09/01/2028^(b)		231		210,195
Open Text Corp. 3.875%, 02/15/2028^(b)		64		56,345
3.875%, 12/01/2029^(b)		128		107,018


	Principal Amount (000)		U.S. $ Value

Playtika Holding Corp. 4.25%, 03/15/2029^(b)	U.S.$	1,104	$	981,119
Presidio Holdings, Inc. 4.875%, 02/01/2027^(b)		98		91,982
8.25%, 02/01/2028^(b)		1,755		1,668,488
PTC, Inc. 3.625%, 02/15/2025^(b)		98		94,722
Rackspace Technology Global, Inc. 3.50%, 02/15/2028^(b)		3,885		1,754,307
5.375%, 12/01/2028^(b)		82		25,932
Science Applications International Corp. 4.875%, 04/01/2028^(b)		105		98,483
Seagate HDD Cayman 3.375%, 07/15/2031		45		32,710
4.091%, 06/01/2029		1,214		1,067,978
4.125%, 01/15/2031		38		31,182
5.75%, 12/01/2034		231		204,798
8.25%, 12/15/2029^(b)		956		998,898
8.50%, 07/15/2031^(b)		1,012		1,061,981
Sensata Technologies BV 5.00%, 10/01/2025^(b)		219		214,277
5.875%, 09/01/2030^(b)		200		194,486
Sensata Technologies, Inc. 3.75%, 02/15/2031^(b)		474		406,166
Vericast Corp. 11.00%, 09/15/2026^(b)		130		135,493
Veritas US, Inc./Veritas Bermuda Ltd. 7.50%, 09/01/2025^(b)		3,247		2,636,615
Virtusa Corp. 7.125%, 12/15/2028^(b)		717		587,842
Xerox Corp. 6.75%, 12/15/2039		42		31,479
Xerox Holdings Corp. 5.50%, 08/15/2028^(b)		248		210,953

				23,758,613


Transportation - Airlines – 0.6%
Allegiant Travel Co. 7.25%, 08/15/2027^(b)		127		126,545
American Airlines Pass Through Trust Series 2015-1, Class A 3.375%, 05/01/2027		258		231,100
American Airlines, Inc./AAdvantage Loyalty IP Ltd. 5.50%, 04/20/2026^(b)		865		857,485
5.75%, 04/20/2029^(b)		1,125		1,093,104
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd. 5.75%, 01/20/2026^(b)		1,242		1,175,893
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd. 8.00%, 09/20/2025^(b)		1,590		1,606,388


	Principal Amount (000)			U.S. $ Value

VistaJet Malta Finance PLC/Vista Management Holding, Inc.
6.375%, 02/01/2030^(b)		U.S.$	15	$	12,037
7.875%, 05/01/2027^(b)			185		165,806

					5,268,358


Transportation - Services – 0.9%
Albion Financing 1 SARL/Aggreko Holdings, Inc. 5.25%, 10/15/2026^(b)		EUR	625		643,145
6.125%, 10/15/2026^(b)		U.S.$	657		617,554
Avis Budget Car Rental LLC/Avis Budget Finance, Inc. 4.75%, 04/01/2028^(b)			660		607,034
5.75%, 07/15/2027^(b)			1,031		985,884
BCP V Modular Services Finance II PLC 4.75%, 11/30/2028^(b)		EUR	132		122,599
BCP V Modular Services Finance PLC 6.75%, 11/30/2029			1,214		1,001,745
Fortress Transportation and Infrastructure Investors LLC 6.50%, 10/01/2025^(b)		U.S.$	428		422,300
Hertz Corp. (The) 4.625%, 12/01/2026^(b)			1,307		1,179,874
5.00%, 12/01/2029^(b)			1,154		953,311
Loxam SAS 2.875%, 04/15/2026^(b)		EUR	301		304,286
4.50%, 02/15/2027			629		656,941
NAC Aviation 29 DAC 4.75%, 06/30/2026		U.S.$	168		145,308
PROG Holdings, Inc. 6.00%, 11/15/2029^(b)			19		16,699
Rand Parent LLC 8.50%, 02/15/2030^(b)			388		351,307
United Rentals North America, Inc. 3.875%, 02/15/2031			178		154,273
4.00%, 07/15/2030			206		182,390
4.875%, 01/15/2028			112		106,559
Williams Scotsman International, Inc. 4.625%, 08/15/2028^(b)			76		69,787

					8,520,996

					448,197,895


Financial Institutions – 5.5%
Banking – 0.5%
Ally Financial, Inc.
Series B 4.70%, 05/15/2026^(m)			2,950		2,080,602
Series C 4.70%, 05/15/2028^(m)			256		166,724
Bread Financial Holdings, Inc. 7.00%, 01/15/2026^(b)			1,157		1,091,540
CaixaBank SA 5.875%, 10/09/2027^{(b) (m)}		EUR	1,000		975,966


	Principal Amount (000)		U.S. $ Value

Freedom Mortgage Corp. 7.625%, 05/01/2026^(b)	U.S.$	35	$	31,876
8.125%, 11/15/2024^(b)		56		55,483
8.25%, 04/15/2025^(b)		222		216,686

				4,618,877


Brokerage – 0.9%
Advisor Group Holdings, Inc. 10.75%, 08/01/2027^(b)		1,425		1,439,704
AG Issuer LLC 6.25%, 03/01/2028^(b)		406		386,854
AG TTMT Escrow Issuer LLC 8.625%, 09/30/2027^(b)		787		807,781
Hightower Holding LLC 6.75%, 04/15/2029^(b)		2,936		2,541,451
NFP Corp. 6.875%, 08/15/2028^(b)		1,494		1,297,902
7.50%, 10/01/2030^(b)		1,323		1,283,060

				7,756,752


Finance – 2.0%
Aircastle Ltd. 5.25%, 06/15/2026^{(b) (m)}		1,374		956,871
Castlelake Aviation Finance DAC 5.00%, 04/15/2027^(b)		1,036		921,361
CNG Holdings, Inc. 12.50%, 06/15/2024^(h)		861		732,814
Compass Group Diversified Holdings LLC 5.25%, 04/15/2029^(b)		1,277		1,121,261
Curo Group Holdings Corp. 7.50%, 08/01/2028^(b)		3,647		1,386,880
Enova International, Inc. 8.50%, 09/01/2024^(b)		343		339,451
8.50%, 09/15/2025^(b)		1,996		1,942,583
GGAM Finance Ltd. 7.75%, 05/15/2026^(b)		662		664,099
8.00%, 06/15/2028^(b)		993		993,042
Home Point Capital, Inc. 5.00%, 02/01/2026^(b)		25		22,418
Jefferies Finance LLC/JFIN Co-Issuer Corp. 5.00%, 08/15/2028^(b)		2,234		1,839,117
LD Holdings Group LLC 6.50%, 11/01/2025^(b)		85		67,057
Midcap Financial Issuer Trust 5.625%, 01/15/2030^(b)		216		171,303
6.50%, 05/01/2028^(b)		422		376,233
Nationstar Mortgage Holdings, Inc. 5.125%, 12/15/2030^(b)		63		51,127
6.00%, 01/15/2027^(b)		417		387,986
Navient Corp. 4.875%, 03/15/2028		1,706		1,461,663


	Principal Amount (000)			U.S. $ Value

5.00%, 03/15/2027		U.S.$	792	$	710,643
5.50%, 03/15/2029			79		67,402
5.625%, 08/01/2033			40		30,069
6.75%, 06/25/2025			954		939,924
6.75%, 06/15/2026			835		807,538
OneMain Finance Corp. 3.50%, 01/15/2027			174		149,627
5.375%, 11/15/2029			124		105,880
6.875%, 03/15/2025			153		151,327
7.125%, 03/15/2026			180		177,190
9.00%, 01/15/2029			76		76,654
PennyMac Financial Services, Inc. 5.375%, 10/15/2025^(b)			205		194,359
5.75%, 09/15/2031^(b)			67		54,575
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc. 3.625%, 03/01/2029^(b)			225		189,164
SLM Corp. 3.125%, 11/02/2026			188		162,627
Synchrony Financial 7.25%, 02/02/2033			1,564		1,404,181

					18,656,426


Insurance – 0.5%
Acrisure LLC/Acrisure Finance, Inc. 4.25%, 02/15/2029^(b)			53		45,751
10.125%, 08/01/2026^(b)			559		572,017
Ardonagh Midco 2 PLC 11.50% (11.50% Cash or 12.75% PIK), 01/15/2027^{(b) (g)}			1,926		1,760,557
HUB International Ltd. 7.00%, 05/01/2026^(b)			292		291,479
7.25%, 06/15/2030^(b)			1,476		1,524,100

					4,193,904


Other Finance – 0.6%
Armor Holdco, Inc. 8.50%, 11/15/2029^(b)			1,967		1,660,431
Coinbase Global, Inc. 3.375%, 10/01/2028^(b)			852		571,408
3.625%, 10/01/2031^(b)			818		482,609
Curo SPV LLC 18.00%, 08/02/2027^(f)			1,460		1,395,336
Intrum AB 3.00%, 09/15/2027^(b)		EUR	360		271,265
3.125%, 07/15/2024^(b)			255		257,959
3.50%, 07/15/2026^(b)			705		571,429
4.875%, 08/15/2025			683		618,103

					5,828,540


REITs – 1.0%
Aedas Homes Opco SLU 4.00%, 08/15/2026			1,580		1,604,383


	Principal Amount (000)			U.S. $ Value

Agps Bondco PLC 5.50%, 11/13/2026^{(a) (b)}		EUR	200	$	84,830
Apollo Commercial Real Estate Finance, Inc. 4.625%, 06/15/2029^(b)		U.S.$	16		12,464
Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LL 4.50%, 04/01/2027^(b)			2,519		2,134,360
5.75%, 05/15/2026^(b)			350		320,810
Cushman & Wakefield US Borrower LLC 6.75%, 05/15/2028^(b)			124		112,212
Diversified Healthcare Trust 4.75%, 02/15/2028			23		15,669
Howard Hughes Corp. (The) 4.125%, 02/01/2029^(b)			128		106,150
Hunt Cos., Inc. 5.25%, 04/15/2029^(b)			32		25,584
Iron Mountain, Inc. 5.25%, 03/15/2028^(b)			1,352		1,265,818
5.625%, 07/15/2032^(b)			169		151,455
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp. 4.75%, 06/15/2029^(b)			99		80,598
MPT Operating Partnership LP/MPT Finance Corp. 5.00%, 10/15/2027			257		216,296
Office Properties Income Trust 3.45%, 10/15/2031			863		454,643
Realogy Group LLC/Realogy Co-Issuer Corp. 5.75%, 01/15/2029^(b)			156		117,112
Service Properties Trust 4.75%, 10/01/2026			89		77,258
4.95%, 10/01/2029			85		65,953
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC 4.75%, 04/15/2028^(b)			279		231,620
10.50%, 02/15/2028^(b)			43		42,673
Via Celere Desarrollos Inmobiliarios SA 5.25%, 04/01/2026		EUR	771		780,662
Vivion Investments SARL 3.00%, 08/08/2024^(b)			1,000		871,765
3.50%, 11/01/2025^(b)			400		299,606

					9,071,921

					50,126,420


Utility – 0.9%
Electric – 0.6%
Algonquin Power & Utilities Corp. 4.75%, 01/18/2082		U.S.$	184		146,769
Calpine Corp. 5.125%, 03/15/2028^(b)			362		324,366


	Principal Amount (000)			U.S. $ Value

ContourGlobal Power Holdings SA 3.125%, 01/01/2028^(b)		EUR	167	$	145,037
NextEra Energy Operating Partners LP 3.875%, 10/15/2026^(b)		U.S.$	180		167,564
4.50%, 09/15/2027^(b)			108		100,360
NRG Energy, Inc. 3.375%, 02/15/2029^(b)			158		129,792
3.875%, 02/15/2032^(b)			2,090		1,615,672
6.625%, 01/15/2027			7		6,953
10.25%, 03/15/2028^{(b) (m)}			842		793,285
PG&E Corp. 5.00%, 07/01/2028			209		191,855
5.25%, 07/01/2030			38		34,076
Vistra Corp. 7.00%, 12/15/2026^{(b) (m)}			835		729,124
8.00%, 10/15/2026^{(b) (m)}			1,003		938,667
Vistra Operations Co. LLC 5.625%, 02/15/2027^(b)			163		156,256

					5,479,776


Natural Gas – 0.2%
AmeriGas Partners LP/AmeriGas Finance Corp. 5.50%, 05/20/2025			106		102,393
5.75%, 05/20/2027			230		211,550
5.875%, 08/20/2026			350		330,297
9.375%, 06/01/2028^(b)			74		75,198
UGI International LLC 2.50%, 12/01/2029^(b)		EUR	1,169		1,000,339

					1,719,777


Other Utility – 0.1%
Solaris Midstream Holdings LLC 7.625%, 04/01/2026^(b)		U.S.$	1,376		1,335,691

					8,535,244


Total Corporates - Non-Investment Grade (cost $568,954,108)					506,859,559


CORPORATES - INVESTMENT GRADE – 16.7%
Industrial – 8.3%
Basic – 0.8%
Arconic Corp. 6.00%, 05/15/2025^(b)			947		955,293
Braskem Netherlands Finance BV 4.50%, 01/31/2030^(b)			1,515		1,295,249
Celanese US Holdings LLC 6.05%, 03/15/2025			626		623,577
Freeport Indonesia PT 4.763%, 04/14/2027^(b)			281		270,541
Georgia-Pacific LLC 8.875%, 05/15/2031			1		1,231
Industrias Penoles SAB de CV 5.65%, 09/12/2049^(b)			386		346,987


	Principal Amount (000)			U.S. $ Value

INEOS Finance PLC 3.375%, 03/31/2026^(b)		EUR	351	$	358,116
MEGlobal Canada ULC 5.875%, 05/18/2030^(b)		U.S.$	343		345,792
Nexa Resources SA 6.50%, 01/18/2028^(b)			773		739,034
Olin Corp. 5.00%, 02/01/2030			198		183,160
5.625%, 08/01/2029			735		708,337
Smurfit Kappa Treasury Funding DAC 7.50%, 11/20/2025			238		245,643
Suzano Austria GmbH 3.75%, 01/15/2031			262		222,255
5.00%, 01/15/2030			218		203,453
Series DM3N 3.125%, 01/15/2032			331		263,790
UPL Corp., Ltd. 4.50%, 03/08/2028^(b)			272		243,826
4.625%, 06/16/2030^(b)			673		572,770

					7,579,054


Capital Goods – 0.3%
General Electric Co. Series D 8.882% (LIBOR 3 Month + 3.33%), 09/15/2023^{(l) (m)}			1,681		1,683,819
Howmet Aerospace, Inc. 3.00%, 01/15/2029			22		19,272
5.90%, 02/01/2027			119		120,090
5.95%, 02/01/2037			155		157,915
6.875%, 05/01/2025			187		190,061
Regal Rexnord Corp. 6.30%, 02/15/2030^(b)			235		234,371
6.40%, 04/15/2033^(b)			277		276,484
Weir Group PLC (The) 2.20%, 05/13/2026^(b)			200		179,260

					2,861,272


Communications - Media – 0.7%
Cox Communications, Inc. 5.70%, 06/15/2033^(b)			442		446,299
DirecTV Financing LLC/DirecTV Financing Co-Obligor, Inc. 5.875%, 08/15/2027^(b)			2,311		2,092,543
Discovery Communications LLC 4.125%, 05/15/2029			179		164,096
Paramount Global 6.25%, 02/28/2057			245		187,124
6.375%, 03/30/2062			56		46,788
Prosus NV 3.061%, 07/13/2031^(b)			857		666,853
4.027%, 08/03/2050^(b)			331		205,634


	Principal Amount (000)		U.S. $ Value

Telecomunicaciones Digitales SA 4.50%, 01/30/2030^(b)	U.S.$	505	$	428,866
Warnermedia Holdings, Inc. 3.755%, 03/15/2027		745		695,140
4.279%, 03/15/2032		1,034		916,192
Weibo Corp. 3.375%, 07/08/2030		513		409,554

				6,259,089


Communications - Telecommunications – 0.2%
Hughes Satellite Systems Corp. 5.25%, 08/01/2026		118		110,745
Sprint Capital Corp. 8.75%, 03/15/2032		666		804,967
Sprint LLC 7.625%, 03/01/2026		186		193,155
Xiaomi Best Time International Ltd. 3.375%, 04/29/2030^(b)		718		584,086

				1,692,953


Consumer Cyclical - Automotive – 1.6%
Ford Motor Co. 3.25%, 02/12/2032		3,020		2,371,652
Ford Motor Credit Co. LLC 4.95%, 05/28/2027		1,160		1,094,535
General Motors Co. 5.20%, 04/01/2045		19		16,201
General Motors Financial Co., Inc. 5.65%, 01/17/2029		30		29,616
5.85%, 04/06/2030		2,032		2,014,342
6.40%, 01/09/2033		1,708		1,736,051
Harley-Davidson Financial Services, Inc. 6.50%, 03/10/2028^(b)		3,503		3,504,635
Lear Corp. 3.50%, 05/30/2030		3		2,640
4.25%, 05/15/2029		17		15,956
Nissan Motor Acceptance Co. LLC 1.85%, 09/16/2026^(b)		1,164		987,581
2.00%, 03/09/2026^(b)		126		110,231
2.45%, 09/15/2028^(b)		575		457,931
2.75%, 03/09/2028^(b)		1,245		1,023,606
Nissan Motor Co., Ltd. 4.345%, 09/17/2027^(b)		1,084		984,286
4.81%, 09/17/2030^(b)		233		204,131

				14,553,394


Consumer Cyclical - Entertainment – 0.2%
Mattel, Inc. 3.375%, 04/01/2026^(b)		1,152		1,060,096
3.75%, 04/01/2029^(b)		383		336,296
5.875%, 12/15/2027^(b)		578		567,455

				1,963,847


	Principal Amount (000)			U.S. $ Value

Consumer Cyclical - Other – 1.0%
Genting New York LLC/GENNY Capital, Inc. 3.30%, 02/15/2026^(b)		U.S.$	239	$	215,057
International Game Technology PLC 3.50%, 06/15/2026^(b)		EUR	214		225,135
4.125%, 04/15/2026^(b)		U.S.$	1,760		1,670,509
Las Vegas Sands Corp. 2.90%, 06/25/2025			343		322,278
3.50%, 08/18/2026			293		272,831
MDC Holdings, Inc. 6.00%, 01/15/2043			1,881		1,694,375
Owens Corning 7.00%, 12/01/2036^(a)			777		850,300
Resorts World Las Vegas LLC/RWLV Capital, Inc. 4.625%, 04/16/2029^(b)			1,400		1,152,256
4.625%, 04/06/2031^(b)			1,100		851,483
Sands China Ltd. 2.80%, 03/08/2027^(a)			235		203,071
3.75%, 08/08/2031^(a)			285		230,850
4.30%, 01/08/2026^(a)			200		187,060
4.875%, 06/18/2030^(a)			935		831,393

					8,706,598


Consumer Cyclical - Retailers – 0.2%
Macy’s Retail Holdings LLC 5.875%, 04/01/2029^(b)			552		503,923
5.875%, 03/15/2030^(b)			1,064		947,902
6.125%, 03/15/2032^(b)			688		602,601

					2,054,426


Consumer Non-Cyclical – 0.4%
BAT Capital Corp. 7.75%, 10/19/2032			665		731,462
Charles River Laboratories International, Inc. 3.75%, 03/15/2029^(b)			770		680,447
4.00%, 03/15/2031^(b)			991		865,101
IQVIA, Inc. 5.70%, 05/15/2028^(b)			340		336,859
Pilgrim’s Pride Corp. 3.50%, 03/01/2032			1,249		994,620
Reynolds American, Inc. 5.85%, 08/15/2045			341		303,741

					3,912,230


Energy – 1.9%
Apache Corp. 4.75%, 04/15/2043			8		5,894
5.10%, 09/01/2040			24		19,557


	Principal Amount (000)		U.S. $ Value

Cenovus Energy, Inc. 6.75%, 11/15/2039	U.S.$	30	$	31,586
Cheniere Energy Partners LP 4.50%, 10/01/2029		603		553,772
Continental Resources, Inc./OK 5.75%, 01/15/2031^(b)		970		924,352
Ecopetrol SA 4.625%, 11/02/2031		841		643,113
5.875%, 11/02/2051		118		77,231
6.875%, 04/29/2030		782		709,782
8.625%, 01/19/2029		1,118		1,118,559
8.875%, 01/13/2033		531		523,447
Energy Transfer LP 4.75%, 01/15/2026		25		24,453
EnLink Midstream Partners LP 5.05%, 04/01/2045		807		644,090
5.45%, 06/01/2047		81		66,613
5.60%, 04/01/2044		104		87,153
Enterprise Products Operating LLC Series E 5.25%, 08/16/2077		345		301,766
EQT Corp. 3.90%, 10/01/2027		291		269,888
Hunt Oil Co. of Peru LLC Sucursal Del Peru 6.375%, 06/01/2028^(b)		578		555,110
KazMunayGas National Co. JSC 5.375%, 04/24/2030^(b)		1,383		1,283,009
Occidental Petroleum Corp. 4.40%, 04/15/2046		62		48,603
5.50%, 12/01/2025		158		156,669
5.55%, 03/15/2026		18		17,765
5.875%, 09/01/2025		21		20,923
6.20%, 03/15/2040		2		1,980
6.45%, 09/15/2036		59		60,736
7.50%, 05/01/2031		2,480		2,707,619
Oleoducto Central SA 4.00%, 07/14/2027^(b)		424		371,751
Ovintiv, Inc. 5.65%, 05/15/2028		777		762,593
6.25%, 07/15/2033		1,110		1,095,671
Tengizchevroil Finance Co. International Ltd. 3.25%, 08/15/2030^(b)		1,212		924,065
Var Energi ASA 7.50%, 01/15/2028^(b)		894		921,348
8.00%, 11/15/2032^(b)		1,300		1,380,414
Western Midstream Operating LP 3.35%, 02/01/2025^(a)		153		146,366
3.95%, 06/01/2025		225		216,221
4.30%, 02/01/2030^(a)		150		135,017
4.75%, 08/15/2028		27		25,658
5.45%, 04/01/2044		193		163,932

				16,996,706


	Principal Amount (000)			U.S. $ Value

Other Industrial – 0.2%
LKQ Corp. 5.75%, 06/15/2028^(b)		U.S.$	1,067	$	1,062,956
6.25%, 06/15/2033^(b)			945		950,473

					2,013,429


Services – 0.1%
Elis SA Series E 1.625%, 04/03/2028^(b)		EUR	300		288,207
IHS Markit Ltd. 4.125%, 08/01/2023		U.S.$	202		201,592
Verisk Analytics, Inc. 5.50%, 06/15/2045			5		4,786

					494,585


Technology – 0.4%
Dell International LLC/EMC Corp. 8.35%, 07/15/2046			130		159,170
HP, Inc. 5.50%, 01/15/2033			1,353		1,328,963
Lenovo Group Ltd. 3.421%, 11/02/2030^(b)			289		241,896
5.831%, 01/27/2028^(b)			597		592,481
SK Hynix, Inc. 2.375%, 01/19/2031^(b)			408		314,148
6.25%, 01/17/2026^(b)			301		300,515
6.50%, 01/17/2033^(b)			258		260,663
Western Digital Corp. 2.85%, 02/01/2029			59		47,184
3.10%, 02/01/2032			130		96,232
Xiaomi Best Time International Ltd. 2.875%, 07/14/2031^(b)			318		240,189

					3,581,441


Transportation - Airlines – 0.3%
Delta Air Lines, Inc./SkyMiles IP Ltd. 4.75%, 10/20/2028^(b)			716		694,941
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd. 6.50%, 06/20/2027^(b)			2,112		2,116,841

					2,811,782


Transportation - Railroads – 0.0%
Lima Metro Line 2 Finance Ltd. 4.35%, 04/05/2036^(b)			396		353,709


Transportation - Services – 0.0%
AerCap Global Aviation Trust 6.50%, 06/15/2045^(b)			235		227,879

					76,062,394


	Principal Amount (000)			U.S. $ Value

Financial Institutions – 7.8%
Banking – 5.4%
AIB Group PLC 4.263%, 04/10/2025^(b)		U.S.$	526	$	513,603
7.583%, 10/14/2026^(b)			1,117		1,136,215
Ally Financial, Inc. 5.75%, 11/20/2025			22		21,173
6.70%, 02/14/2033			782		691,475
8.00%, 11/01/2031			548		568,507
Banco Santander SA 3.225%, 11/22/2032			200		158,288
5.179%, 11/19/2025			400		388,265
Bank of America Corp. Series X 6.25%, 09/05/2024^(m)			1,199		1,182,864
Bank of Ireland Group PLC 6.253%, 09/16/2026^(b)			655		650,711
Barclays PLC 6.125%, 12/15/2025^(m)			1,402		1,225,839
7.119%, 06/27/2034			361		359,665
7.125%, 06/15/2025^(m)		GBP	404		465,285
7.385%, 11/02/2028		U.S.$	1,696		1,765,222
BNP Paribas SA 4.625%, 02/25/2031^{(b) (m)}			1,350		954,813
7.375%, 08/19/2025^{(b) (m)}			755		732,866
Capital One Financial Corp. 6.312%, 06/08/2029			1,243		1,235,213
Citigroup, Inc. 9.341% (LIBOR 3 Month + 4.07%), 10/30/2023^{(l) (m)}			1,107		1,106,838
Series W
4.00%, 12/10/2025^(m)			413		354,475
Credit Agricole SA 8.125%, 12/23/2025^{(b) (m)}			1,461		1,464,652
8.125%, 03/23/2172^(m)			448		448,894
Deutsche Bank AG/New York NY 1.447%, 04/01/2025			150		142,517
6.72%, 01/18/2029			1,317		1,321,699
7.079%, 02/10/2034			1,509		1,389,020
Discover Financial Services 6.70%, 11/29/2032			286		295,112
Goldman Sachs Group, Inc. (The) Series P 8.211% (LIBOR 3 Month + 2.87%), 07/31/2023^{(l) (m)}			782		772,896
HSBC Holdings PLC 4.762%, 03/29/2033			901		813,742
6.00%, 09/29/2023^{(b) (m)}		EUR	1,819		1,970,131
8.113%, 11/03/2033		U.S.$	1,024		1,135,622
Series E
4.75%, 07/04/2029^{(b) (m)}		EUR	1,595		1,467,549
Intesa Sanpaolo SpA 5.017%, 06/26/2024^(b)		U.S.$	331		320,435
5.71%, 01/15/2026^(b)			1,650		1,569,370


	Principal Amount (000)			U.S. $ Value

6.625%, 06/20/2033^(b)		U.S.$	997	$	988,976
7.00%, 11/21/2025^(b)			355		358,193
KBC Group NV 5.796%, 01/19/2029^(b)			414		412,177
Lloyds Banking Group PLC 7.50%, 06/27/2024^(m)			885		845,802
7.953%, 11/15/2033			854		925,017
8.00%, 09/27/2029^(m)			801		729,190
NatWest Group PLC 7.472%, 11/10/2026			800		818,746
Nordea Bank Abp 6.625%, 03/26/2026^{(b) (m)}			3,065		2,878,465
Santander Holdings USA, Inc. 6.499%, 03/09/2029			2,272		2,249,515
6.565%, 06/12/2029			1,468		1,440,922
Santander UK Group Holdings PLC 6.833%, 11/21/2026			3,782		3,792,212
Standard Chartered PLC 7.776%, 11/16/2025^(b)			1,355		1,384,517
Swedbank AB Series NC5 5.625%, 09/17/2024^(b) (m)			1,000		943,638
Synchrony Bank 5.625%, 08/23/2027			727		682,896
UBS Group AG 3.091%, 05/14/2032^(b)			1,018		821,306
6.373%, 07/15/2026^(b)			712		707,566
7.00%, 02/19/2025^{(b) (m)}			620		589,566
UniCredit SpA 1.982%, 06/03/2027^(b)			915		805,889
5.459%, 06/30/2035^(b)			243		205,552
7.296%, 04/02/2034^(b)			200		188,942
US Bancorp 4.839%, 02/01/2034			523		489,742

					48,881,785


Brokerage – 0.1%
Charles Schwab Corp. (The) Series I 4.00%, 06/01/2026^(m)			1,251		1,015,038


Finance – 1.1%
Air Lease Corp. Series B 4.65%, 06/15/2026^(m)			1,229		986,784
Aircastle Ltd. 4.25%, 06/15/2026			33		31,093
5.25%, 08/11/2025^(b)			2,239		2,163,182
Aviation Capital Group LLC 1.95%, 09/20/2026^(b)			844		732,086
3.50%, 11/01/2027^(b)			295		261,157
4.125%, 08/01/2025^(b)			395		369,819
4.875%, 10/01/2025^(b)			319		304,453
6.375%, 07/15/2030^(b)			1,098		1,089,699


	Principal Amount (000)		U.S. $ Value

Enact Holdings, Inc. 6.50%, 08/15/2025^(b)	U.S.$	215	$	211,237
Huarong Finance 2017 Co., Ltd. 4.75%, 04/27/2027^(b)		200		172,266
Huarong Finance 2019 Co., Ltd. Series E 3.75%, 05/29/2024^(b)		343		328,875
Huarong Finance II Co., Ltd. Series E 4.625%, 06/03/2026^(b)		200		177,456
4.875%, 11/22/2026^(b)		430		379,079
5.50%, 01/16/2025^(b)		1,082		1,025,065
ILFC E-Capital Trust II 7.314% (LIBOR 3 Month + 1.80%), 12/21/2065^{(b) (l)}		2,000		1,384,254
Owl Rock Capital Corp. 3.40%, 07/15/2026		337		298,731
Synchrony Financial 4.25%, 08/15/2024		236		227,263
United Wholesale Mortgage LLC 5.50%, 11/15/2025^(b)		179		171,117
5.50%, 04/15/2029^(b)		145		124,397
5.75%, 06/15/2027^(b)		15		13,694

				10,451,707


Insurance – 1.0%
Allstate Corp. (The) 6.50%, 05/15/2057		1,657		1,614,634
Enstar Finance LLC 5.50%, 01/15/2042		262		195,548
Global Atlantic Fin Co. 4.70%, 10/15/2051^(b)		62		44,230
Liberty Mutual Group, Inc. 4.125%, 12/15/2051^(b)		43		33,593
4.30%, 02/01/2061^(b)		54		33,821
7.80%, 03/15/2037^(b)		2,187		2,255,956
MetLife, Inc. 10.75%, 08/01/2039		2,350		3,042,115
MGIC Investment Corp. 5.25%, 08/15/2028		189		178,006
Prudential Financial, Inc. 5.20%, 03/15/2044		340		334,622
Transatlantic Holdings, Inc. 8.00%, 11/30/2039		1,261		1,568,227

				9,300,752


REITs – 0.2%
Global Net Lease, Inc./Global Net Lease Operating Partnership LP 3.75%, 12/15/2027^(b)		135		99,083
Trust Fibra Uno 4.869%, 01/15/2030^(b)		1,239		1,087,223


	Principal Amount (000)		U.S. $ Value

VICI Properties LP/VICI Note Co., Inc. 5.75%, 02/01/2027^(b)	U.S.$	767	$	752,264

				1,938,570

				71,587,852


Utility – 0.6%
Electric – 0.6%
Cometa Energia SA de CV 6.375%, 04/24/2035^(b)		452		439,683
Drax Finco PLC 6.625%, 11/01/2025^(b)		200		197,019
Edison International 8.125%, 06/15/2053		319		326,319
Electricite de France SA 9.125%, 03/15/2033^(b) (m)		427		437,157
Enel Finance International NV 7.50%, 10/14/2032^(b)		1,190		1,317,125
FirstEnergy Corp. Series C 3.40%, 03/01/2050		51		35,139
5.10%, 07/15/2047^(a)		7		6,284
NRG Energy, Inc. 7.00%, 03/15/2033^(b)		323		326,129
Pacific Gas and Electric Co. 6.75%, 01/15/2053		76		75,018
Palomino Funding Trust I 7.233%, 05/17/2028^(b)		1,703		1,708,665

				4,868,538


Total Corporates - Investment Grade (cost $155,053,043)				152,518,784


EMERGING MARKETS - CORPORATE BONDS – 5.3%
Industrial – 5.0%
Basic – 1.4%
Braskem Idesa SAPI 6.99%, 02/20/2032^(b)		652		417,280
7.45%, 11/15/2029^(b)		1,010		673,241
Cia de Minas Buenaventura SAA 5.50%, 07/23/2026^(b)		1,072		922,766
Consolidated Energy Finance SA 5.625%, 10/15/2028^(b)		196		166,866
CSN Inova Ventures 6.75%, 01/28/2028^(b)		2,644		2,441,470
Eldorado Gold Corp. 6.25%, 09/01/2029^(b)		986		884,619
First Quantum Minerals Ltd. 6.875%, 10/15/2027^(b)		1,215		1,178,392
7.50%, 04/01/2025^(b)		261		260,079
8.625%, 06/01/2031^(b)		832		848,640
Indika Energy Capital IV Pte Ltd. 8.25%, 10/22/2025^(b)		1,431		1,418,622


	Principal Amount (000)			U.S. $ Value

JSW Steel Ltd. 3.95%, 04/05/2027^(b)		U.S.$	409	$	362,157
5.05%, 04/05/2032^(b)			658		529,749
OCP SA 3.75%, 06/23/2031^(b)			403		332,951
Sasol Financing USA LLC 8.75%, 05/03/2029^(b)			668		651,822
Stillwater Mining Co. 4.00%, 11/16/2026^(b)			319		283,132
4.50%, 11/16/2029^(b)			309		249,616
Vedanta Resources Finance II PLC 13.875%, 01/21/2024^(b)			1,319		1,200,778
Volcan Cia Minera SAA 4.375%, 02/11/2026^(b)			345		253,613

					13,075,793


Capital Goods – 0.3%
Cemex SAB de CV 5.125%, 06/08/2026^{(b) (m)}			1,028		914,159
Embraer Netherlands Finance BV 5.40%, 02/01/2027			918		879,141
6.95%, 01/17/2028^(b)			491		487,318
IHS Holding Ltd. 5.625%, 11/29/2026^(b)			402		350,194
6.25%, 11/29/2028^(b)			383		313,892
Odebrecht Holdco Finance Ltd. Zero Coupon, 09/10/2058^(h)			2,661		10,645

					2,955,349


Communications - Media – 0.1%
Globo Comunicacao e Participacoes SA 4.875%, 01/22/2030^(b)			1,130		904,113


Communications - Telecommunications – 0.1%
CT Trust 5.125%, 02/03/2032^(b)			557		447,838
Digicel Group Holdings Ltd. 7.00%, 07/17/2023^{(g) (h) (m)}			101		11,146
Digicel International Finance Ltd./Digicel international Holdings Ltd. 8.75%, 05/25/2024^(b)			657		602,836

					1,061,820


Consumer Cyclical - Other – 1.2%
Allwyn Entertainment Financing UK PLC 7.448% (EURIBOR 3 Month + 4.12%), 02/15/2028^(l)		EUR	650		708,495
Allwyn Entertainment Financing UK PLC 7.875%, 04/30/2029^(b)		U.S.$	200		203,492
Allwyn International AS 3.875%, 02/15/2027^(b)		EUR	170		173,678


	Principal Amount (000)			U.S. $ Value

Melco Resorts Finance Ltd. 5.375%, 12/04/2029^(b)		U.S.$	1,603	$	1,320,471
5.625%, 07/17/2027^(b)			965		867,149
5.75%, 07/21/2028^(b)			1,255		1,097,341
MGM China Holdings Ltd. 4.75%, 02/01/2027^(b)			1,322		1,191,452
5.25%, 06/18/2025^(b)			222		212,854
5.375%, 05/15/2024^(b)			398		392,647
5.875%, 05/15/2026^(b)			414		394,194
Studio City Co., Ltd. 7.00%, 02/15/2027^(b)			289		270,938
Studio City Finance Ltd. 5.00%, 01/15/2029^(b)			609		451,994
6.00%, 07/15/2025^(b)			648		597,197
6.50%, 01/15/2028^(b)			457		381,348
Wynn Macau Ltd. 4.875%, 10/01/2024^(b)			286		277,717
5.125%, 12/15/2029^(b)			241		200,633
5.50%, 01/15/2026^(b)			734		680,326
5.50%, 10/01/2027^(b)			947		838,687
5.625%, 08/26/2028^(b)			717		618,413

					10,879,026


Consumer Cyclical - Retailers – 0.0%
K2016470219 South Africa Ltd. 3.00%, 12/31/2022^{(b) (c) (d) (f)}			1,100		0
K2016470260 South Africa Ltd. 25.00%, 12/31/2022^{(b) (c) (d) (f)}			771		0

					0


Consumer Non-Cyclical – 0.9%
BBFI Liquidating Trust Zero Coupon, 12/30/2099^{(e) (f) (h) (m)}			780		359,919
BRF SA 4.875%, 01/24/2030^(b)			655		528,094
Central American Bottling Corp./CBC Bottling Holdco SL/Beliv Holdco SL 5.25%, 04/27/2029^(b)			377		348,167
MARB BondCo PLC 3.95%, 01/29/2031^(b)			2,318		1,651,575
Natura Cosmeticos SA 4.125%, 05/03/2028^(b)			1,071		926,533
Rede D’or Finance SARL 4.50%, 01/22/2030^(b)			223		190,420
4.95%, 01/17/2028^(b)			735		670,166
Teva Pharmaceutical Finance Netherlands II BV 3.75%, 05/09/2027		EUR	446		438,874
4.375%, 05/09/2030			1,000		928,491
Teva Pharmaceutical Finance Netherlands III BV 4.75%, 05/09/2027		U.S.$	517		475,064
5.125%, 05/09/2029⁽ⁱ⁾			517		466,075
7.875%, 09/15/2029			506		522,360


	Principal Amount (000)		U.S. $ Value

8.125%, 09/15/2031	U.S.$	506	$	529,932
Tonon Luxembourg SA 6.50%, 10/31/2024^{(c) (e) (h) (k)}		621		62
Ulker Biskuvi Sanayi AS 6.95%, 10/30/2025^(b)		327		292,799
Virgolino de Oliveira Finance SA 10.50%, 01/28/2018^{(c) (d) (e) (f) (h)}		4,090		408
10.875%, 01/13/2020^{(c) (d) (e) (f) (h)}		480		48
11.75%, 02/09/2022^{(c) (d) (e) (f) (h)}		1,620		162

				8,329,149


Energy – 0.7%
Acu Petroleo Luxembourg SARL 7.50%, 01/13/2032^(b)		546		467,886
Cosan SA 5.50%, 09/20/2029^(b)		461		418,081
Geopark Ltd. 5.50%, 01/17/2027^(b)		561		459,274
Gran Tierra Energy, Inc. 7.75%, 05/23/2027^(b)		732		553,289
Greenko Wind Projects Mauritius Ltd. 5.50%, 04/06/2025^(b)		957		914,394
Kosmos Energy Ltd. 7.50%, 03/01/2028^(b)		545		449,249
7.75%, 05/01/2027^(b)		200		170,882
Leviathan Bond Ltd. 6.50%, 06/30/2027^(b)		1,197		1,148,685
MV24 Capital BV 6.748%, 06/01/2034^(b)		467		418,475
ReNew Power Pvt Ltd. 5.875%, 03/05/2027^(b)		111		103,564
SEPLAT Energy PLC 7.75%, 04/01/2026^(b)		381		319,838
SierraCol Energy Andina LLC 6.00%, 06/15/2028^(b)		558		404,830

				5,828,447


Services – 0.1%
Bidvest Group UK PLC (The) 3.625%, 09/23/2026^(b)		454		404,164


Technology – 0.2%
CA Magnum Holdings 5.375%, 10/31/2026^(b)		2,039		1,821,153


Transportation - Services – 0.0%
JSW Infrastructure Ltd. 4.95%, 01/21/2029^(b)		204		174,443

				45,433,457


	Principal Amount (000)			U.S. $ Value

Utility – 0.3%
Electric – 0.3%
Adani Green Energy Ltd. 4.375%, 09/08/2024^(b)		U.S.$	495	$	457,959
AES Andes SA 6.35%, 10/07/2079^(b)			495		452,925
Diamond II Ltd. 7.95%, 07/28/2026^(b)			597		586,618
India Clean Energy Holdings 4.50%, 04/18/2027^(b)			511		419,291
Investment Energy Resources Ltd. 6.25%, 04/26/2029^(b)			403		373,953
JSW Hydro Energy Ltd. 4.125%, 05/18/2031^(b)			458		385,358
Star Energy Geothermal Wayang Windu Ltd. 6.75%, 04/24/2033^(b)			186		182,056
Terraform Global Operating LP 6.125%, 03/01/2026^(h)			118		114,939

					2,973,099


Financial Institutions – 0.0%
Finance – 0.0%
Global Aircraft Leasing Co., Ltd. 6.50% (6.50% Cash or 7.25% PIK), 09/15/2024^{(b) (g)}			188		172,540


Other Finance – 0.0%
OEC Finance Ltd.
4.375%, 10/25/2029^{(a) (b) (g)}			207		8,288
5.25%, 12/27/2033^{(a) (b) (g)}			669		25,099
7.125%, 12/26/2046^{(a) (b) (g)}			1,852		119,924

					153,311


REITs – 0.0%
China Aoyuan Group Ltd.
5.375%, 09/13/2022^{(b) (c) (d)}			247		13,585
5.88%, 03/01/2027^{(b) (c) (k)}			306		16,830
Yango Justice International Ltd. 8.25%, 11/25/2023^{(b) (c) (k)}			414		4,140

					34,555

					360,406


Total Emerging Markets - Corporate Bonds (cost $63,107,609)					48,766,962


COLLATERALIZED LOAN OBLIGATIONS – 4.8%
CLO - Floating Rate – 4.8%
AMMC CLO 25 Ltd. Series 2022-25A, Class E 12.576% (SOFR + 7.59%), 04/15/2035^{(b) (l)}			5,000		4,585,555


	Principal Amount (000)		U.S. $ Value

Ares XXXIV CLO Ltd. Series 2015-2A, Class CR 7.26% (LIBOR 3 Month + 2.00%), 04/17/2033^{(b) (l)}	U.S.$	2,358	$	2,239,178
Balboa Bay Loan Funding Ltd.
Series 2020-1A, Class ER 11.65% (LIBOR 3 Month + 6.40%), 01/20/2032^{(b) (l)}		3,100		2,763,681
Series 2021-2A, Class E 11.85% (LIBOR 3 Month + 6.60%), 01/20/2035^{(b) (l)}		1,000		853,670
Series 2022-1A, Class E 12.979% (SOFR + 7.93%), 04/20/2034^{(b) (l)}		3,700		3,449,447
Ballyrock CLO 15 Ltd. Series 2021-1A, Class D 11.48% (LIBOR 3 Month + 6.22%), 04/15/2034^{(b) (l)}		250		233,411
Crown Point CLO 11 Ltd. Series 2021-11A, Class E 12.07% (LIBOR 3 Month + 6.81%), 01/17/2034^{(b) (l)}		2,000		1,879,016
Dryden 49 Senior Loan Fund Series 2017-49A, Class E 11.562% (LIBOR 3 Month + 6.30%), 07/18/2030^{(b) (l)}		417		341,805
Dryden 57 CLO Ltd. Series 2018-57A, Class E 10.521% (LIBOR 3 Month + 5.20%), 05/15/2031^{(b) (l)}		275		219,336
Dryden 78 CLO Ltd.
Series 2020-78A, Class C 7.21% (LIBOR 3 Month + 1.95%), 04/17/2033^{(b) (l)}		3,000		2,852,676
Series 2020-78A, Class D 8.26% (LIBOR 3 Month + 3.00%), 04/17/2033^{(b) (l)}		1,329		1,240,455
Dryden 98 CLO Ltd. Series 2022-98A, Class E 11.449% (SOFR + 6.40%), 04/20/2035^{(b) (l)}		541		486,569
Elevation CLO Ltd.
Series 2020-11A, Class C 7.46% (LIBOR 3 Month + 2.20%), 04/15/2033^{(b) (l)}		648		614,104
Series 2020-11A, Class D1 9.11% (LIBOR 3 Month + 3.85%), 04/15/2033^{(b) (l)}		1,006		911,055
Elmwood CLO IX Ltd. Series 2021-2A, Class E 11.20% (LIBOR 3 Month + 5.95%), 07/20/2034^{(b) (l)}		250		242,603


	Principal Amount (000)		U.S. $ Value

Elmwood CLO VII Ltd. Series 2020-4A, Class E 12.36% (LIBOR 3 Month + 7.10%), 01/17/2034^{(b) (l)}	U.S.$	402	$	397,312
Elmwood CLO VIII Ltd. Series 2021-1A, Class E1 11.25% (LIBOR 3 Month + 6.00%), 01/20/2034^{(b) (l)}		350		334,838
Elmwood CLO XII Ltd. Series 2021-5A, Class E 11.60% (LIBOR 3 Month + 6.35%), 01/20/2035^{(b) (l)}		650		635,232
Flatiron CLO 21 Ltd. Series 2021-1A, Class E 11.265% (LIBOR 3 Month + 6.00%), 07/19/2034^{(b) (l)}		400		375,537
Galaxy 30 CLO Ltd. Series 2022-30A, Class E 11.936% (SOFR + 6.95%), 04/15/2035^{(b) (l)}		2,000		1,851,870
Madison Park Funding LI Ltd. Series 2021-51A, Class E 11.535% (LIBOR 3 Month + 6.27%), 07/19/2034^{(b) (l)}		250		230,908
OCP CLO Ltd. Series 2021-21A, Class E 11.53% (LIBOR 3 Month + 6.28%), 07/20/2034^{(b) (l)}		250		224,744
Octagon Investment Partners 29 Ltd. Series 2016-1A, Class DR 8.373% (LIBOR 3 Month + 3.10%), 01/24/2033^{(b) (l)}		1,701		1,515,260
OZLM XXII Ltd. Series 2018-22A, Class D 10.56% (LIBOR 3 Month + 5.30%), 01/17/2031^{(b) (l)}		349		249,035
Palmer Square CLO Ltd.
Series 2021-1A, Class D 11.25% (LIBOR 3 Month + 6.00%), 04/20/2034^{(b) (l)}		1,202		1,115,899
Series 2021-3A, Class E 11.41% (LIBOR 3 Month + 6.15%), 01/15/2035^{(b) (l)}		4,100		3,981,695
Rad CLO 4 Ltd. Series 2019-4A, Class E 12.005% (LIBOR 3 Month + 6.75%), 04/25/2032^{(b) (l)}		585		550,256
Rad CLO 10 Ltd. Series 2021-10A, Class E 11.123% (LIBOR 3 Month + 5.85%), 04/23/2034^{(b) (l)}		750		681,501
Rad CLO 11 Ltd. Series 2021-11A, Class E 11.51% (LIBOR 3 Month + 6.25%), 04/15/2034^{(b) (l)}		355		339,752


	Principal Amount (000)		U.S. $ Value

Regatta XIX Funding Ltd. Series 2022-1A, Class E 11.929% (SOFR + 6.88%), 04/20/2035^{(b) (l)}	U.S.$	349	$	321,973
Regatta XXIV Funding Ltd. Series 2021-5A, Class E 12.05% (LIBOR 3 Month + 6.80%), 01/20/2035^{(b) (l)}		3,600		3,484,796
Rockford Tower CLO Ltd.
Series 2019-1A, Class ER 11.57% (LIBOR 3 Month + 6.32%), 04/20/2034^{(b) (l)}		250		206,819
Series 2021-2A, Class E 11.65% (LIBOR 3 Month + 6.40%), 07/20/2034^{(b) (l)}		250		210,915
Series 2021-3A, Class E 11.97% (LIBOR 3 Month + 6.72%), 10/20/2034^{(b) (l)}		1,062		885,519
Sixth Street CLO XVIII Ltd. Series 2021-18A, Class E 11.75% (LIBOR 3 Month + 6.50%), 04/20/2034^{(b) (l)}		1,238		1,202,771
Sixth Street CLO XX Ltd. Series 2021-20A, Class E 11.40% (LIBOR 3 Month + 6.15%), 10/20/2034^{(b) (l)}		679		661,384
Trimaran Cavu Ltd. Series 2019-1A, Class E 12.29% (LIBOR 3 Month + 7.04%), 07/20/2032^{(b) (l)}		485		427,189
Voya CLO Ltd. Series 2019-1A, Class DR 8.11% (LIBOR 3 Month + 2.85%), 04/15/2031^{(b) (l)}		1,050		944,106


Total Collateralized Loan Obligations (cost $46,923,815)				43,741,872


BANK LOANS – 4.2%
Industrial – 3.8%
Capital Goods – 0.4%
ACProducts Holdings, Inc. 9.754% (SOFR 3 Month + 4.25%), 05/17/2028^(o)		1,937		1,624,076
Apex Tool Group, LLC 10.441% (SOFR 1 Month + 5.25%), 02/08/2029^(o)		1,722		1,589,579
Chariot Buyer, LLC 8.453% (SOFR 1 Month + 3.25%), 11/03/2028^(o)		158		153,857
TransDigm, Inc. 8.492% (SOFR 3 Month + 3.25%), 08/24/2028^(o)		293		292,376

				3,659,888


	Principal Amount (000)			U.S. $ Value

Communications - Media – 0.2%
Advantage Sales & Marketing, Inc. 9.719% (LIBOR 3 Month + 4.50%), 10/28/2027^(o)		U.S.$	1,706	$	1,600,575
Clear Channel Outdoor Holdings, Inc. 8.807% (SOFR 3 Month + 3.50%), 08/21/2026^(o)			313		297,946
iHeartCommunications, Inc. (fka Clear Channel Communications, Inc.) 8.217% (SOFR 1 Month + 3.00%), 05/01/2026^(o)			355		305,960

					2,204,481


Communications - Telecommunications – 0.7%
Crown Subsea Communications Holding, Inc. 10.275% (SOFR 1 Month + 5.00%), 04/27/2027^(o)			1,515		1,511,439
DIRECTV Financing, LLC 10.217% (SOFR 1 Month + 5.00%), 08/02/2027^(o)			590		575,908
Proofpoint, Inc. 11.467% (SOFR 1 Month + 6.25%), 08/31/2029^{(f) (o)}			2,480		2,399,400
Zacapa SARL 9.242% (SOFR 3 Month + 4.00%), 03/22/2029^(o)			2,116		2,055,059

					6,541,806


Consumer Cyclical - Automotive – 0.1%
Garret Motion SARL 9.730% (SOFR 1 Month + 4.50%), 04/30/2028^{(f) (o)}			1,190		1,166,200


Consumer Cyclical - Other – 0.0%
Caesars Entertainment, Inc. 8.453% (SOFR 1 Month + 3.25%), 02/06/2030^(o)			399		398,637


Consumer Cyclical - Restaurants – 0.0%
IRB Holding Corp. 8.203% (SOFR 1 Month + 3.00%), 12/15/2027^(o)			159		157,951


Consumer Cyclical - Retailers – 0.1%
Great Outdoors Group, LLC 8.943% (LIBOR 1 Month + 3.75%), 03/06/2028^(o)			474		470,264
Party City Holdings, Inc. 15.177% (SOFR 1 Month + 10.00%), 07/19/2023^{(f) (o)}			5		5,286
15.246% (SOFR 1 Month + 10.00%), 07/19/2023^(o)			5		5,286

					480,836


	Principal Amount (000)			U.S. $ Value

Consumer Non-Cyclical – 0.7%
Gainwell Acquisition Corp. 9.342% (SOFR 3 Month + 4.00%), 10/01/2027^(o)		U.S.$	1,209	$	1,189,354
Kronos Acquisition Holdings, Inc. 8.904% (LIBOR 1 Month + 3.75%), 12/22/2026^(o)			541		525,749
9.254% (SOFR 3 Month + 3.75%), 12/22/2026^(o)			230		223,557
LifePoint Health, Inc. (fka Regionalcare Hospital Partners Holdings, Inc.) 9.023% (LIBOR 3 Month + 3.75%), 11/16/2025^(o)			793		732,530
PetSmart, LLC 8.953% (SOFR 1 Month + 3.75%), 02/11/2028^(o)			2,191		2,183,679
US Radiology Specialists, Inc. (US Outpatient Imaging Services, Inc.) 10.453% (SOFR 1 Month + 5.25%), 12/15/2027^{(f) (o)}			1,936		1,882,442

					6,737,311


Energy – 0.4%
GIP II Blue Holding, L.P. 9.659% (LIBOR 3 Month + 4.50%), 09/29/2028^(o)			2,326		2,328,857
Parkway Generation, LLC 10.280% (SOFR 3 Month + 4.75%), 02/18/2029^(o)			1,402		1,364,927

					3,693,784


Other Industrial – 0.3%
American Tire Distributors, Inc. 11.488% (SOFR 3 Month + 6.25%), 10/20/2028^(o)			2,087		1,805,187
Dealer Tire Financial, LLC 9.603% (SOFR 1 Month + 4.50%), 12/14/2027^(o)			290		288,840
FCG Acquisitions, Inc. 11.909% (LIBOR 3 Month + 6.75%), 03/30/2029^(o)			640		599,469
Rockwood Service Corporation 9.217% (SOFR 1 Month + 4.00%), 01/23/2027^(o)			83		83,273

					2,776,769


Services – 0.1%
Verscend Holding Corp. 9.217% (SOFR 1 Month + 4.00%), 08/27/2025^(o)			740		739,163


	Principal Amount (000)			U.S. $ Value

Technology – 0.8%
Amentum Government Services Holdings, LLC 9.217% (SOFR 1 Month + 4.00%), 01/29/2027^{(f) (o)}		U.S.$	310	$	304,968
Ascend Learning, LLC 10.953% (SOFR 1 Month + 5.75%), 12/10/2029^(o)			840		710,497
Banff Guarantor, Inc. 10.717% (SOFR 1 Month + 5.50%), 02/27/2026^(o)			690		669,873
Boxer Parent Company, Inc. 8.967% (SOFR 1 Month + 3.75%), 10/02/2025^(o)			1,475		1,462,012
Endurance International Group Holdings, Inc. 8.792% (LIBOR 3 Month + 3.50%), 02/10/2028^{(f) (o)}			1,959		1,817,104
FINThrive Software Intermediate Holdings, Inc. 11.943% (LIBOR 1 Month + 6.75%), 12/17/2029^(o)			660		382,800
Loyalty Ventures, Inc. 11.000% (PRIME 3 Month + 3.00%), 11/03/2027^{(c) (k) (o)}			1,610		162,630
Peraton Corp. 8.953% (SOFR 1 Month + 3.75%), 02/01/2028^(o)			614		602,201
Presidio Holdings, Inc. 8.645% (SOFR 3 Month + 3.50%), 01/22/2027^(o)			373		369,361
8.703% (SOFR 1 Month + 3.50%), 01/22/2027^(o)			14		13,417
Veritas US, Inc. 10.217% (SOFR 1 Month + 5.00%), 09/01/2025^(o)			573		465,865

					6,960,728

					35,517,554


Financial Institutions – 0.2%
Finance – 0.0%
Orbit Private Holdings I Ltd. 10.087% (SOFR 6 Month + 4.50%), 12/11/2028^{(f) (o)}			236		236,695


Insurance – 0.2%
Asurion, LLC 9.453% (SOFR 1 Month + 4.25%), 08/19/2028^(o)			1,656		1,572,031

					1,808,726


	Principal Amount (000)		U.S. $ Value

Utility – 0.2%
Electric – 0.2%
Granite Generation LLC 8.943% (LIBOR 1 Month + 3.75%), 11/09/2026^(o)	U.S.$	1,759	$	1,726,888


Total Bank Loans (cost $42,038,543)				39,053,168


COLLATERALIZED MORTGAGE OBLIGATIONS – 4.0%
Risk Share Floating Rate – 3.0%
Bellemeade Re Ltd.
Series 2019-3A, Class M1C 7.10% (LIBOR 1 Month + 1.95%), 07/25/2029^(b) (l)		1,182		1,184,266
Series 2019-4A, Class M2 8.00% (LIBOR 1 Month + 2.85%), 10/25/2029^{(b) (l)}		475		478,690
Eagle Re Ltd. Series 2018-1, Class M2 8.15% (LIBOR 1 Month + 3.00%), 11/25/2028^{(b) (l)}		2,764		2,791,014
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes
Series 2013-DN2, Class M2 9.40% (LIBOR 1 Month + 4.25%), 11/25/2023^(l)		722		730,566
Series 2014-DN3, Class M3 9.15% (LIBOR 1 Month + 4.00%), 08/25/2024^(l)		35		35,454
Series 2014-HQ2, Class M3 8.90% (LIBOR 1 Month + 3.75%), 09/25/2024^(l)		1,328		1,359,532
Series 2015-DNA1, Class B 14.35% (LIBOR 1 Month + 9.20%), 10/25/2027^(l)		592		632,162
Series 2015-DNA2, Class B 12.70% (LIBOR 1 Month + 7.55%), 12/25/2027^(l)		1,305		1,329,935
Series 2015-DNA3, Class B 14.50% (LIBOR 1 Month + 9.35%), 04/25/2028^(l)		1,014		1,088,518
Series 2015-HQA1, Class B 13.95% (LIBOR 1 Month + 8.80%), 03/25/2028^(l)		1,002		1,034,111
Series 2016-DNA2, Class B 15.65% (LIBOR 1 Month + 10.50%), 10/25/2028^(l)		853		950,521
Series 2016-DNA3, Class B 16.40% (LIBOR 1 Month + 11.25%), 12/25/2028^(l)		2,743		3,112,301
Series 2016-DNA4, Class B 13.75% (LIBOR 1 Month + 8.60%), 03/25/2029^(l)		392		416,193


	Principal Amount (000)			U.S. $ Value

Series 2016-HQA2, Class B 16.65% (LIBOR 1 Month + 11.50%), 11/25/2028^(l)		U.S.$	420	$	479,257
Series 2020-HQA2, Class M2 8.25% (LIBOR 1 Month + 3.10%), 03/25/2050^(b) (l)			37		37,921
Federal National Mortgage Association Connecticut Avenue Securities Series 2014-C01, Class M2 9.55% (LIBOR 1 Month + 4.40%), 01/25/2024^(l)			641		651,911
Series 2015-C04, Class 1M2 10.85% (LIBOR 1 Month + 5.70%), 04/25/2028^(l)			980		1,043,233
Series 2015-C04, Class 2M2 10.70% (LIBOR 1 Month + 5.55%), 04/25/2028^(l)			279		291,968
Series 2016-C01, Class 1B 16.90% (LIBOR 1 Month + 11.75%), 08/25/2028^(l)			674		755,231
Series 2016-C01, Class 2M2 12.10% (LIBOR 1 Month + 6.95%), 08/25/2028^(l)			145		153,447
Series 2016-C02, Class 1B 17.40% (LIBOR 1 Month + 12.25%), 09/25/2028^(l)			446		514,184
Series 2016-C02, Class 1M2 11.15% (LIBOR 1 Month + 6.00%), 09/25/2028^(l)			396		416,777
Series 2016-C03, Class 1B 16.90% (LIBOR 1 Month + 11.75%), 10/25/2028^(l)			371		419,222
Series 2016-C03, Class 2B 17.90% (LIBOR 1 Month + 12.75%), 10/25/2028^(l)			630		733,276
Series 2016-C04, Class 1B 15.40% (LIBOR 1 Month + 10.25%), 01/25/2029^(l)			1,475		1,603,972
Series 2016-C05, Class 2B 15.90% (LIBOR 1 Month + 10.75%), 01/25/2029^(l)			1,816		1,970,039
Series 2016-C06, Class 1B 14.40% (LIBOR 1 Month + 9.25%), 04/25/2029^(l)			1,276		1,353,075
Series 2016-C07, Class 2B 14.65% (LIBOR 1 Month + 9.50%), 05/25/2029^(l)			1,556		1,633,440
JPMorgan Madison Avenue Securities Trust Series 2015-CH1, Class M2 10.65% (LIBOR 1 Month + 5.50%), 10/25/2025^{(h) (l)}			389		381,398


	Principal Amount (000)		U.S. $ Value

Triangle Re Ltd. Series 2020-1, Class M2 10.75% (LIBOR 1 Month + 5.60%), 10/25/2030^{(b) (l)}	U.S.$	61	$	60,692
Wells Fargo Credit Risk Transfer Securities Trust Series 2015-WF1, Class 2M2 10.65% (LIBOR 1 Month + 5.50%), 11/25/2025^{(h) (l)}		128		122,850

				27,765,156


Non-Agency Fixed Rate – 0.4%
Alternative Loan Trust
Series 2006-24CB, Class A15 5.75%, 08/25/2036		496		276,190
Series 2006-42, Class 1A6 6.00%, 01/25/2047		456		260,283
Series 2006-HY12, Class A5 3.952%, 08/25/2036		501		467,100
Series 2006-J1, Class 1A10 5.50%, 02/25/2036		556		398,188
Series 2006-J5, Class 1A1 6.50%, 09/25/2036		500		294,380
Bear Stearns ARM Trust
Series 2007-3, Class 1A1 3.887%, 05/25/2047		73		64,873
Series 2007-4, Class 22A1 4.06%, 06/25/2047		296		265,556
ChaseFlex Trust Series 2007-1, Class 1A3 6.50%, 02/25/2037		401		152,065
CHL Mortgage Pass-Through Trust Series 2007-HY4, Class 1A1 3.611%, 09/25/2047		85		74,568
Citigroup Mortgage Loan Trust Series 2007-AR4, Class 1A1A 4.001%, 03/25/2037		45		38,834
CitiMortgage Alternative Loan Trust Series 2007-A3, Class 1A4 5.75%, 03/25/2037		433		388,376
Residential Accredit Loans, Inc. Trust Series 2005-QS14, Class 3A1 6.00%, 09/25/2035		186		161,501
Residential Asset Securitization Trust Series 2006-A8, Class 3A4 6.00%, 08/25/2036		126		62,657
Washington Mutual Mortgage Pass-Through Certificates Trust Series 2006-9, Class A4 4.30%, 10/25/2036		1,223		345,952
Wells Fargo Mortgage Backed Securities Trust Series 2007-AR7, Class A1 4.36%, 12/28/2037		289		259,045

				3,509,568


	Principal Amount (000)			U.S. $ Value

Non-Agency Floating Rate – 0.3%
Alternative Loan Trust Series 2007-7T2, Class A3 5.75% (LIBOR 1 Month + 0.60%), 04/25/2037^(l)		U.S.$	1,943	$	645,270
CHL Mortgage Pass-Through Trust Series 2007-13, Class A7 5.75% (LIBOR 1 Month + 0.60%), 08/25/2037^(l)			285		108,914
First Horizon Alternative Mortgage Securities Trust
Series 2007-FA2, Class 1A10 5.40% (LIBOR 1 Month + 0.25%), 04/25/2037^(l)			209		51,776
Series 2007-FA2, Class 1A6 0.40% (5.55% - LIBOR 1 Month), 04/25/2037^{(l) (p)}			71		6,307
Lehman XS Trust Series 2007-10H, Class 2AIO 1.83% (7.00% - LIBOR 1 Month), 07/25/2037^{(l) (p)}			115		9,595
Residential Accredit Loans, Inc. Trust Series 2006-QS18, Class 2A2 1.40% (6.55% - LIBOR 1 Month), 12/25/2036^{(l) (p)}			1,744		187,265
Wachovia Mortgage Loan Trust Series 2006-ALT1, Class A2 1.561% (LIBOR 1 Month + 0.36%), 01/25/2037^(l)			5,063		1,916,663

					2,925,790


Agency Fixed Rate – 0.3%
Federal Home Loan Mortgage Corp. Series 247, Class 54 5.50%, 04/15/2036^(q)			4,144		862,243
Federal Home Loan Mortgage Corp. REMICs Series 4767, Class KI 6.00%, 03/15/2048^(q)			9,189		1,827,954

					2,690,197


Total Collateralized Mortgage Obligations (cost $39,877,182)					36,890,711


EMERGING MARKETS - SOVEREIGNS – 2.3%
Angola – 0.3%
Angolan Government International Bond 8.00%, 11/26/2029^(b)			835		706,410
8.25%, 05/09/2028^(b)			200		177,174
9.50%, 11/12/2025^(b)			2,118		2,062,763

					2,946,347


	Principal Amount (000)			U.S. $ Value

Argentina – 0.1%
Argentine Republic Government International Bond 0.50%, 07/09/2030^(a)		U.S.$	199	$	66,126
1.00%, 07/09/2029			1,099		356,419
1.50%, 07/09/2035^(a)			835		250,061
3.50%, 07/09/2041^(a)			562		179,875
3.875%, 01/09/2038^(a)			1,323		464,348

					1,316,829


Dominican Republic – 0.7%
Dominican Republic International Bond 8.625%, 04/20/2027^(b)			5,719		5,947,131


Ecuador – 0.0%
Ecuador Government International Bond 2.50%, 07/31/2035^(a) (b)			371		128,106


Egypt – 0.2%
Egypt Government International Bond 8.50%, 01/31/2047^(b)			862		456,532
8.70%, 03/01/2049^(b)			611		327,386
8.875%, 05/29/2050^(b)			1,096		588,103

					1,372,021


El Salvador – 0.1%
El Salvador Government International Bond 7.625%, 09/21/2034^(b)			762		437,700
7.625%, 02/01/2041^(b)			826		466,690

					904,390


Gabon – 0.2%
Gabon Government International Bond 6.625%, 02/06/2031^(b)			2,609		2,065,337


Nigeria – 0.4%
Nigeria Government International Bond 6.125%, 09/28/2028^(b)			2,789		2,318,468
7.143%, 02/23/2030^(b)			1,718		1,437,072

					3,755,540


Senegal – 0.0%
Senegal Government International Bond 4.75%, 03/13/2028^(b)		EUR	465		436,548


Ukraine – 0.2%
Ukraine Government International Bond 7.253%, 03/15/2035^(a) (b)		U.S.$	1,886		431,460
7.375%, 09/25/2034^{(a) (b)}			1,164		268,884
7.75%, 09/01/2025^{(a) (b)}			3,507		879,907

					1,580,251


Venezuela – 0.1%
Venezuela Government International Bond 9.25%, 09/15/2027^{(c) (k)}			7,978		638,240


	Principal Amount (000)		U.S. $ Value

9.25%, 05/07/2028^{(b) (c) (k)}	U.S.$	300	$	24,000

				662,240


Total Emerging Markets - Sovereigns (cost $34,947,606)				21,114,740


GOVERNMENTS - TREASURIES – 2.1%
United States – 2.1%
U.S. Treasury Bonds 2.75%, 11/15/2042^(r)		2,154		1,768,299
5.00%, 05/15/2037^(r)		1,824		2,062,545
5.25%, 02/15/2029^(s)		320		336,700
6.125%, 11/15/2027^(t)		1,000		1,072,500
U.S. Treasury Notes 2.25%, 02/15/2027^{(s) (t)}		10,811		10,048,883
2.875%, 08/15/2028^{(i) (s)}		3,866		3,640,269


Total Governments - Treasuries (cost $19,862,417)				18,929,196


QUASI-SOVEREIGNS – 0.8%
Quasi-Sovereign Bonds – 0.8%
Mexico – 0.6%
Comision Federal de Electricidad 4.688%, 05/15/2029^(b)		650		582,556
Petroleos Mexicanos 5.95%, 01/28/2031		3,604		2,625,982
6.49%, 01/23/2027		463		410,681
6.70%, 02/16/2032		465		352,912
6.75%, 09/21/2047		2,113		1,320,393

				5,292,524


Panama – 0.0%
Aeropuerto Internacional de Tocumen SA 4.00%, 08/11/2041^(b)		249		200,876
5.125%, 08/11/2061^(b)		236		181,446

				382,322


South Africa – 0.2%
Eskom Holdings SOC Ltd. 7.125%, 02/11/2025^(b)		237		232,665
Transnet SOC Ltd. 8.25%, 02/06/2028^(b)		1,300		1,260,077

				1,492,742


Total Quasi-Sovereigns (cost $7,986,074)				7,167,588


Company	Shares		U.S. $ Value

COMMON STOCKS – 0.7%
Consumer Staples – 0.3%
Household Products – 0.3%
Southeastern Grocers, Inc.^{(c) (e) (f)}		105,865	$	2,329,030


Energy – 0.2%
Energy Equipment & Services – 0.0%
BIS Industries Holdings Ltd.^{(c) (e) (f)}		838,296		1
CHC Group LLC^(c)		21,009		31
Diamond Offshore Drilling, Inc.^(c)		23,444		333,843

				333,875


Oil, Gas & Consumable Fuels – 0.2%
Athabasca Oil Corp.^(c)		214,048		463,724
Berry Corp.		37,000		254,560
Civitas Resources, Inc.		3,393		235,372
Denbury, Inc.^(c)		6,529		563,192
Golden Energy Offshore Services AS^(c)		916,212		90,108
SandRidge Energy, Inc.		243		3,706

				1,610,662

				1,944,537


Consumer Discretionary – 0.1%
Broadline Retail – 0.1%
ATD New Holdings, Inc.^{(c) (f)}		20,185		933,556
K201640219 South Africa Ltd. A Shares^{(c) (e) (f)}		12,695,187		13
K201640219 South Africa Ltd. B Shares^{(c) (e) (f)}		2,009,762		2

				933,571


Diversified Consumer Services – 0.0%
AG Tracker^{(c) (e) (f)}		78,082		0
Monitronics International, Inc.^(c)		17,878		2

				2


Hotels, Restaurants & Leisure – 0.0%
Caesars Entertainment, Inc.^(c)		1,674		85,324


Leisure Products – 0.0%
New Cotai LLC/New Cotai Capital Corp.^{(c) (e) (f)}		3		0

				1,018,897


Financials – 0.1%
Financial Services – 0.0%
Paysafe Ltd.^(c)		10,709		108,054


Insurance – 0.1%
Mt Logan Re Ltd. (Special Investment)^{(c) (e) (f)}		541		494,620

				602,674


Communication Services – 0.0%
Diversified Telecommunication Services – 0.0%
Intelsat Emergence SA^{(c) (f)}		15,662		333,600


Company	Shares			U.S. $ Value

Intelsat Jackson Holdings SA^{(c) (e) (f)}			1,640	$	0

					333,600


Media – 0.0%
iHeartMedia, Inc. - Class A^(c)			25,545		92,984

					426,584


Industrials – 0.0%
Electrical Equipment – 0.0%
Exide Corp.^{(c) (e) (f)}			643		321,500


Information Technology – 0.0%
IT Services – 0.0%
GOLO Mobile, Inc.^{(c) (e) (f)}			38,543		0


Total Common Stocks (cost $15,868,484)					6,643,222


	Principal Amount (000)

COMMERCIAL MORTGAGE-BACKED SECURITIES – 0.6%
Non-Agency Fixed Rate CMBS – 0.6%
Citigroup Commercial Mortgage Trust Series 2013-GC17, Class D 5.26%, 11/10/2046^(b)		U.S.$	902		795,007
Commercial Mortgage Trust
Series 2012-CR3, Class F 4.75%, 10/15/2045^(b)			182		33,284
Series 2012-CR3, Class XA 1.38%, 10/15/2045^(q)			610		19
Series 2013-LC6, Class D 4.147%, 01/10/2046^(b)			2,112		1,954,042
Series 2014-CR15, Class XA 0.752%, 02/10/2047^(q)			1,177		1,895
Series 2014-CR20, Class XA 1.076%, 11/10/2047^(q)			8,279		67,355
WF-RBS Commercial Mortgage Trust
Series 2011-C4, Class D 4.992%, 06/15/2044^(b)			1,022		872,277
Series 2014-C25, Class D 3.803%, 11/15/2047^(b)			1,807		1,471,055

					5,194,934


Non-Agency Floating Rate CMBS – 0.0%
Morgan Stanley Capital I Trust Series 2019-BPR, Class E 10.443% (LIBOR 1 Month + 5.25%), 05/15/2036^{(b) (l)}			301		262,154


Total Commercial Mortgage-Backed Securities (cost $6,004,819)					5,457,088


	Principal Amount (000)			U.S. $ Value

LOCAL GOVERNMENTS - US MUNICIPAL BONDS – 0.4%
United States – 0.4%
State of California Series 2010 7.60%, 11/01/2040		U.S.$	750	$	957,508
State of Illinois Series 2010 7.35%, 07/01/2035			1,778		1,916,435
Wisconsin Public Finance Authority (Catholic Bishop of Chicago (The)) Series 2021 5.75%, 07/25/2041^(h)			1,435		1,284,823


Total Local Governments - US Municipal Bonds (cost $3,974,905)					4,158,766


	Shares

PREFERRED STOCKS – 0.2%
Industrials – 0.1%
Trading Companies & Distributors – 0.1%
WESCO International, Inc. Series A 10.625%^(c)			35,175		939,876


Industrial – 0.1%
Energy – 0.1%
Gulfport Energy Corp. 10.00%^{(c) (f)}			142		880,400


Total Preferred Stocks (cost $1,065,763)					1,820,276


	Principal Amount (000)

INFLATION-LINKED SECURITIES – 0.2%
Colombia – 0.2%
Fideicomiso PA Concesion Ruta al Mar 6.75%, 02/15/2044^(u)		COP	1,437,090		192,917
Fideicomiso PA Costera 6.25%, 01/15/2034^(b)			1,230,800		287,489
Fideicomiso PA Pacifico Tres 7.00%, 01/15/2035^(h)			6,642,880		1,305,715


Total Inflation-Linked Securities (cost $2,847,289)					1,786,121


ASSET-BACKED SECURITIES – 0.2%
Other ABS - Fixed Rate – 0.1%
Consumer Loan Underlying Bond Certificate Issuer Trust I
Series 2018-7, Class PT Zero Coupon, 06/15/2043^(h)		U.S.$	1		1,289
Series 2019-24, Class PT 11.197%, 08/15/2044^(h)			28		26,893
Series 2019-36, Class PT 13.297%, 10/17/2044^(h)			55		53,519


	Principal Amount (000)				U.S. $ Value

Consumer Loan Underlying Bond Club Certificate Issuer Trust I
Series 2018-12, Class PT 9.124%, 06/15/2043^(h)		U.S.$	1		$	1,025
Series 2018-4, Class PT (34.078)%, 05/15/2043^{(c) (h)}			0	**		451
Series 2019-43, Class PT (78.123)%, 11/15/2044^{(c) (h)}			0	**		152
Consumer Loan Underlying Bond Credit Trust Series 2018-3, Class PT (40.107)%, 03/16/2043^{(c) (h)}			0	**		184
Pagaya AI Debt Trust Series 2022-6, Class A 11.00%, 05/15/2030^(b)			777			779,957

						863,470


Autos - Fixed Rate – 0.1%
Flagship Credit Auto Trust Series 2019-4, Class E 4.11%, 03/15/2027^(b)			770			720,056


Total Asset-Backed Securities (cost $1,632,162)						1,583,526


GOVERNMENTS - SOVEREIGN BONDS – 0.1%
Colombia – 0.1%
Colombia Government International Bond 4.125%, 05/15/2051			1,058			631,975


Netherlands – 0.0%
SNS Bank NV Series E 11.25%, 12/31/2049^{(c) (e) (f)}		EUR	620			0


Total Governments - Sovereign Bonds (cost $1,895,306)						631,975


	Shares

RIGHTS – 0.0%
Vistra Energy Corp., expiring 12/31/2049^{(c) (f)}			10,721			11,075
Intelsat Jackson Holdings SA, Series B, expiring 12/31/2049^{(c) (e) (f) (m)}			1,640			0


Total Rights (cost $0)						11,075


SHORT-TERM INVESTMENTS – 1.1%
Investment Companies – 0.8%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 5.02%^{(v) (w)} (cost $7,334,586)			7,334,586			7,334,586


	Principal Amount (000)				U.S. $ Value

Time Deposits – 0.3%
BBH, Grand Cayman 6.17%, 07/03/2023		ZAR	0	**	$	3
Citibank, London 2.37%, 07/03/2023		EUR	129			140,671
Citibank, New York 4.42%, 07/03/2023		U.S.$	2,402			2,401,879
SEB, Stockholm 3.92%, 07/03/2023		GBP	32			40,431


Total Time Deposits (cost $2,582,984)						2,582,984


Total Short-Term Investments (cost $9,917,570)						9,917,570


Total Investments – 99.1% (cost $1,021,956,695)^(x)						907,052,199
Other assets less liabilities – 0.9%						7,948,778


Net Assets – 100.0%					$	915,000,977

FUTURES


Description	Number of Contracts		Expiration Month		Current Notional			Value and Unrealized Appreciation (Depreciation)
Purchased Contracts
U.S. 10 Yr Ultra Futures		99		September 2023		$	11,725,313		$	(63,906	)
U.S. Long Bond (CBT) Futures		50		September 2023			6,345,313			53,797
U.S. T-Note 5 Yr (CBT) Futures		679		September 2023			72,716,656			(1,357,813	)
U.S. T-Note 10 Yr (CBT) Futures		89		September 2023			9,991,641			(108,508	)

									$	(1,476,430	)

FORWARD CURRENCY EXCHANGE CONTRACTS


Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation (Depreciation)
Bank of America, NA		USD	5		IDR	79,126		07/12/2023	$	(6	)
Bank of America, NA		CLP	6,872		USD	9		07/13/2023		(27	)
Bank of America, NA		GBP	3,017		USD	3,759		07/21/2023		(73,203	)
Bank of America, NA		KRW	13,393		USD	10		07/27/2023		10
Bank of America, NA		USD	9		KRW	11,876		07/27/2023		(78	)
Bank of America, NA		TWD	871		USD	29		09/14/2023		483
Bank of America, NA		USD	48		INR	3,965		09/25/2023		(25	)
Barclays Bank PLC		USD	5		CLP	4,092		07/13/2023		33
Barclays Bank PLC		KRW	9,923		USD	7		07/27/2023		(92	)
Barclays Bank PLC		EUR	43,390		USD	47,783		07/31/2023		370,521
BNP Paribas SA		IDR	71,832		USD	5		07/12/2023		20
BNP Paribas SA		COP	24,037		USD	6		07/13/2023		11
BNP Paribas SA		COP	28,613		USD	7		07/13/2023		(92	)
BNP Paribas SA		PEN	224		USD	62		07/13/2023		(152	)
BNP Paribas SA		USD	28		CLP	22,694		07/13/2023		221
BNP Paribas SA		USD	7		CLP	5,563		07/13/2023		(10	)


Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation (Depreciation)
BNP Paribas SA		USD	21		COP	94,389		07/13/2023	$	1,816
BNP Paribas SA		TWD	1,394		USD	45		09/14/2023		209
BNP Paribas SA		IDR	77,709		USD	5		10/12/2023		31
BNP Paribas SA		USD	35		IDR	530,686		10/12/2023		(22	)
Brown Brothers Harriman & Co.		CNH	758		USD	110		07/07/2023		5,411
Brown Brothers Harriman & Co.		USD	146		CNH	1,009		07/07/2023		(6,698	)
Brown Brothers Harriman & Co.		MXN	369		USD	21		07/13/2023		(339	)
Brown Brothers Harriman & Co.		SGD	15		USD	11		07/13/2023		146
Brown Brothers Harriman & Co.		USD	9		MXN	170		07/13/2023		521
Brown Brothers Harriman & Co.		USD	6		SGD	8		07/13/2023		3
Brown Brothers Harriman & Co.		USD	31		SGD	42		07/13/2023		(177	)
Brown Brothers Harriman & Co.		CZK	1,280		USD	59		07/20/2023		227
Brown Brothers Harriman & Co.		CZK	383		USD	18		07/20/2023		(23	)
Brown Brothers Harriman & Co.		HUF	8,596		USD	25		07/20/2023		179
Brown Brothers Harriman & Co.		HUF	5,689		USD	16		07/20/2023		(398	)
Brown Brothers Harriman & Co.		PLN	179		USD	43		07/20/2023		(1,247	)
Brown Brothers Harriman & Co.		USD	5		CZK	110		07/20/2023		126
Brown Brothers Harriman & Co.		USD	5		CZK	117		07/20/2023		(15	)
Brown Brothers Harriman & Co.		USD	11		HUF	3,777		07/20/2023		112
Brown Brothers Harriman & Co.		USD	51		PLN	212		07/20/2023		1,323
Brown Brothers Harriman & Co.		CHF	100		USD	111		07/21/2023		24
Brown Brothers Harriman & Co.		CHF	27		USD	30		07/21/2023		(78	)
Brown Brothers Harriman & Co.		GBP	8		USD	10		07/21/2023		14
Brown Brothers Harriman & Co.		GBP	20		USD	25		07/21/2023		(489	)
Brown Brothers Harriman & Co.		USD	114		CHF	102		07/21/2023		445
Brown Brothers Harriman & Co.		USD	23		CHF	20		07/21/2023		(98	)
Brown Brothers Harriman & Co.		USD	56		GBP	44		07/21/2023		(191	)
Brown Brothers Harriman & Co.		EUR	34		USD	37		07/31/2023		172
Brown Brothers Harriman & Co.		EUR	323		USD	348		07/31/2023		(5,328	)
Brown Brothers Harriman & Co.		USD	486		EUR	450		07/31/2023		5,888
Brown Brothers Harriman & Co.		USD	51		EUR	46		07/31/2023		(298	)
Brown Brothers Harriman & Co.		USD	72		ZAR	1,343		08/23/2023		(695	)
Brown Brothers Harriman & Co.		CAD	19		USD	15		08/24/2023		45
Brown Brothers Harriman & Co.		CAD	64		USD	48		08/24/2023		(472	)
Brown Brothers Harriman & Co.		NZD	208		USD	128		08/24/2023		579
Brown Brothers Harriman & Co.		USD	13		CAD	17		08/24/2023		(72	)


Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation (Depreciation)
Brown Brothers Harriman & Co.		USD	23		NZD	38		08/24/2023	$	17
Brown Brothers Harriman & Co.		USD	32		NZD	51		08/24/2023		(146	)
Brown Brothers Harriman & Co.		AUD	143		USD	96		08/25/2023		1,145
Brown Brothers Harriman & Co.		JPY	1,022		USD	7		08/25/2023		263
Brown Brothers Harriman & Co.		USD	39		AUD	58		08/25/2023		(338	)
Brown Brothers Harriman & Co.		USD	105		JPY	14,654		08/25/2023		(2,695	)
Brown Brothers Harriman & Co.		NOK	346		USD	32		09/13/2023		(23	)
Brown Brothers Harriman & Co.		SEK	317		USD	30		09/13/2023		213
Brown Brothers Harriman & Co.		USD	36		NOK	372		09/13/2023		(786	)
Brown Brothers Harriman & Co.		USD	59		SEK	617		09/13/2023		(1,209	)
Citibank, NA		USD	13		INR	1,049		09/25/2023		27
JPMorgan Chase Bank, NA		BRL	52		USD	11		07/05/2023		(7	)
JPMorgan Chase Bank, NA		USD	11		BRL	52		07/05/2023		70
JPMorgan Chase Bank, NA		USD	1		IDR	13,160		07/12/2023		(3	)
JPMorgan Chase Bank, NA		EUR	976		USD	1,049		07/31/2023		(17,148	)
Morgan Stanley Capital Services, Inc.		BRL	44		USD	9		07/05/2023		(60	)
Morgan Stanley Capital Services, Inc.		USD	9		BRL	44		07/05/2023		5
Morgan Stanley Capital Services, Inc.		IDR	105,055		USD	7		07/12/2023		6
Morgan Stanley Capital Services, Inc.		USD	6		IDR	84,601		07/12/2023		(60	)
Morgan Stanley Capital Services, Inc.		CLP	20,669		USD	26		07/13/2023		270
Morgan Stanley Capital Services, Inc.		CLP	18,237		USD	23		07/13/2023		(169	)
Morgan Stanley Capital Services, Inc.		COP	13,572,390		USD	2,942		07/13/2023		(303,019	)
Morgan Stanley Capital Services, Inc.		PEN	45		USD	12		07/13/2023		(252	)
Morgan Stanley Capital Services, Inc.		USD	5		CLP	4,098		07/13/2023		35
Morgan Stanley Capital Services, Inc.		USD	6		CLP	5,131		07/13/2023		(44	)
Morgan Stanley Capital Services, Inc.		USD	1		COP	2,987		07/13/2023		67
Morgan Stanley Capital Services, Inc.		USD	42		COP	176,384		07/13/2023		(217	)
Morgan Stanley Capital Services, Inc.		USD	6		PEN	22		07/13/2023		116
Morgan Stanley Capital Services, Inc.		KRW	76,936		USD	58		07/27/2023		(195	)
Morgan Stanley Capital Services, Inc.		USD	108		KRW	142,243		07/27/2023		404
Morgan Stanley Capital Services, Inc.		USD	8		KRW	9,767		07/27/2023		(114	)
Morgan Stanley Capital Services, Inc.		EUR	1,031		USD	1,118		07/31/2023		(8,396	)
Morgan Stanley Capital Services, Inc.		BRL	44		USD	9		08/02/2023		(3	)
Morgan Stanley Capital Services, Inc.		USD	7		IDR	105,055		10/12/2023		(6	)
NatWest Markets PLC		USD	5		TWD	154		09/14/2023		(121	)
Standard Chartered Bank		CLP	29,650		USD	37		07/13/2023		(297	)
UBS AG		BRL	59		USD	12		07/05/2023		(63	)
UBS AG		USD	12		BRL	59		07/05/2023		305
UBS AG		KRW	41,972		USD	32		07/27/2023		(344	)
UBS AG		USD	14		KRW	18,151		07/27/2023		(104	)


Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation (Depreciation)
UBS AG		USD	1,046		EUR	968		07/31/2023	$	12,400
UBS AG		USD	1,188		CAD	1,589		08/24/2023		12,880
UBS AG		USD	6		TWD	183		09/14/2023		(118	)

									$	(9,469	)

CENTRALLY CLEARED CREDIT DEFAULT SWAPS


Description	Fixed Rate (Pay) Receive			Payment Frequency		Implied Credit Spread at June 30, 2023		Notional Amount (000)			Market Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)
Sale Contracts
Brazilian Government International Bond, 4.250%, 01/07/2025, 06/20/2028*		1.00	%		Quarterly		1.76%		USD	320	$	(10,465	)	$	(23,022	)	$	12,557
CDX-NAHY Series 40, 5 Year Index, 06/20/2028*		5.00			Quarterly		4.29		USD	145,918		4,344,576			1,137,955			3,206,621
iTraxx Europe Crossover Series 39, 5 Year Index, 06/20/2028*		5.00			Quarterly		4.00		EUR	33,120		1,496,024			108,785			1,387,239
South Africa Government International Bond, 5.875%, 09/16/2025, 06/20/2028*		1.00			Quarterly		2.66		USD	2,380		(166,377	)		(187,460	)		21,083

											$	5,663,758		$	1,036,258		$	4,627,500

*	Termination date

CREDIT DEFAULT SWAPS


Swap Counterparty & Referenced Obligation	Fixed Rate (Pay) Receive			Payment Frequency	Implied Credit Spread at June 30, 2023	Notional Amount (000)			Market Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)
Sale Contracts
Citigroup Global Markets, Inc.
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00	%	Monthly	7.50%		USD	259	$	(55,875	)	$	(26,717	)	$	(29,158	)
Deutsche Bank AG
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	7.50		USD	147		(31,753	)		(15,001	)		(16,752	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	7.50		USD	207		(44,815	)		(22,348	)		(22,467	)


Swap Counterparty & Referenced Obligation	Fixed Rate (Pay) Receive			Payment Frequency	Implied Credit Spread at June 30, 2023	Notional Amount (000)			Market Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)
Goldman Sachs International
Avis Budget Car Rental LLC, 5.250%, 03/15/2025, 12/20/2023*		5.00	%	Quarterly	0.61%		USD	270	$	6,061		$	1,647		$	4,414
Avis Budget Car Rental LLC, 5.250%, 03/15/2025, 12/20/2023*		5.00		Quarterly	0.61		USD	300		6,734			2,863			3,871
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	7.50		USD	76		(16,369	)		(7,521	)		(8,848	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	7.50		USD	103		(22,161	)		(8,448	)		(13,713	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	7.50		USD	205		(44,323	)		(18,624	)		(25,699	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	7.50		USD	205		(44,323	)		(17,211	)		(27,112	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	7.50		USD	211		(45,677	)		(16,406	)		(29,271	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	7.50		USD	302		(65,228	)		(29,752	)		(35,476	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	7.50		USD	410		(88,523	)		(40,655	)		(47,868	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	7.50		USD	593		(128,118	)		(58,828	)		(69,290	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	7.50		USD	1,230		(265,692	)		(97,669	)		(168,023	)
JPMorgan Securities, LLC
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	7.50		USD	3,648		(787,660	)		(403,707	)		(383,953	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	7.50		USD	6,840		(1,476,863	)		(721,972	)		(754,891	)
Morgan Stanley Capital Services LLC
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	7.50		USD	677		(146,209	)		(65,362	)		(80,847	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	7.50		USD	725		(156,547	)		(72,878	)		(83,669	)


Swap Counterparty & Referenced Obligation	Fixed Rate (Pay) Receive			Payment Frequency		Implied Credit Spread at June 30, 2023		Notional Amount (000)			Market Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00	%		Monthly		7.50%		USD	1,904	$	(411,060	)	$	(19,366	)	$	(391,694	)

											$	(3,818,401	)	$	(1,637,955	)	$	(2,180,446	)

*	Termination date

TOTAL RETURN SWAPS

Counterparty &
Referenced Obligation

Rate Paid/
Received

Payment
Frequency

Current
Notional
(000)

Maturity
Date

Unrealized
Appreciation
(Depreciation)

Receive Total Return on Reference Obligation

Goldman Sachs International Markit iBoxx EUR Contingent Convertible Liquid Developed Market AT1

3 Month
EURIBOR

Quarterly

EUR

9,363

09/20/2023

460,092

REVERSE REPURCHASE AGREEMENTS


Broker	Currency		Principal Amount (000)		Interest Rate			Maturity		U.S. $ Value at June 30, 2023
Barclays Capital, Inc.†		USD		2,142		(2.00	)%*		—	$	2,134,503
Barclays Capital, Inc.†		USD		662		1.75	%		—		664,658
Barclays Capital, Inc.†		USD		468		2.75	%		—		466,169
Barclays Capital, Inc.†		USD		1,405		3.50	%		—		1,407,254
Barclays Capital, Inc.†		USD		2,700		4.25	%		—		2,710,054
HSBC Securities†		USD		3,361		5.22	%		—		3,398,800
RBC Capital Markets†		USD		1,121		1.75	%		—		1,125,494

										$	11,906,932

†	The reverse repurchase agreement matures on demand. Interest rate resets daily and the rate shown is the rate in effect on June 30, 2023.

*	Interest payment due from counterparty.

The type of underlying collateral and the remaining maturity of open reverse repurchase agreements is as follows:


	Overnight and Continuous		Up to 30 Days		31-90 Days		Greater than 90 Days		Total

Corporates – Non-Investment Grade	$	8,041,963	$	0	$	0	$	0	$	8,041,963
Emerging Markets - Corporate Bonds		466,169		0		0		0		466,169
Governments - Treasuries		3,398,800		0		0		0		3,398,800

	$	11,906,932	$	0	$	0	$	0	$	11,906,932

**	Principal amount less than 500.

(a)

Coupon rate adjusts periodically based upon a predetermined schedule. Stated interest rate in effect at June 30, 2023.

(b)

Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities are considered restricted, but liquid and may be resold in transactions exempt from registration. At June 30, 2023, the aggregate market value of these securities amounted to $627,766,572 or 68.6% of net assets.

(c)

Non-income producing security.

(d)

Defaulted matured security.

(e)

Fair valued by the Adviser.

(f)

Security in which significant unobservable inputs (Level 3) were used in determining fair value.

(g)

Pay-In-Kind Payments (PIK). The issuer may pay cash interest and/or interest in additional debt securities. Rates shown are the rates in effect at June 30, 2023.

(h)

Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities, which represent 0.47% of net assets as of June 30, 2023, are considered illiquid and restricted. Additional information regarding such securities follows:

144A/Restricted & Illiquid Securities

Acquisition
Date

Cost

Market
Value

Percentage
of
Net Assets

BBFI Liquidating Trust
Zero Coupon, 12/30/2099

01/18/2013 - 06/17/2022

666,444

359,919

0.04%

CNG Holdings, Inc.
12.50%, 06/15/2024

05/21/2019

853,803

732,814

0.08%

Consumer Loan Underlying Bond Certificate Issuer Trust I
Series 2018-7, Class PT
Zero Coupon, 06/15/2043

10/09/2019

1,367

1,289

0.00%

Consumer Loan Underlying Bond Certificate Issuer Trust I
Series 2019-24, Class PT
11.197%, 08/15/2044

06/27/2019

27,218

26,893

0.00%

Consumer Loan Underlying Bond Certificate Issuer Trust I
Series 2019-36, Class PT
13.297%, 10/17/2044

09/04/2019

55,019

53,519

0.01%

Consumer Loan Underlying Bond Club Certificate Issuer Trust I
Series 2018-4, Class PT
(34.078)%, 05/15/2043

03/27/2018 - 05/11/2018

486

451

0.00%

Consumer Loan Underlying Bond Club Certificate Issuer Trust I
Series 2019-43, Class PT
(78.123)%, 11/15/2044

10/09/2019

182

152

0.00%

Consumer Loan Underlying Bond Club Certificate Issuer Trust I
Series 2018-12, Class PT
9.124%, 06/15/2043

06/26/2018

1,050

1,025

0.00%

Consumer Loan Underlying Bond Credit Trust
Series 2018-3, Class PT
(40.107)%, 03/16/2043

03/07/2018

197

184

0.00%

Digicel Group Holdings Ltd.
7.00%, 07/17/2023

11/28/2016 - 04/03/2023

156,352

11,146

0.00%

Exide Technologies (Exchange Priority)
11.00%, 10/31/2024

10/29/2020

0.00%

Exide Technologies (First Lien)
11.00%, 10/31/2024

10/29/2020

0.00%

Fideicomiso PA Pacifico Tres
7.00%, 01/15/2035

03/04/2016

1,974,079

1,305,715

0.14%

JPMorgan Madison Avenue Securities Trust
Series 2015-CH1, Class M2
10.65%, 10/25/2025

09/18/2015

388,639

381,398

0.04%

Magnetation LLC/Mag Finance Corp.
11.00%, 05/15/2018

05/15/2013 - 02/19/2015

2,295,760

0.00%

Odebrecht Holdco Finance Ltd.
Zero Coupon, 09/10/2058

01/22/2021

661,629

10,645

0.00%

Terraform Global Operating LP
6.125%, 03/01/2026

02/08/2018

118,000

114,939

0.01%

Tonon Luxembourg SA
6.50%, 10/31/2024

05/03/2019 - 10/31/2021

1,209,003

0.00%

144A/Restricted & Illiquid Securities

Acquisition
Date

Cost

Market
Value

Percentage
of
Net Assets

Virgolino de Oliveira Finance SA
10.50%, 01/28/2018

01/23/2014 - 01/27/2014

2,401,853

408

0.00%

Virgolino de Oliveira Finance SA
10.875%, 01/13/2020

06/09/2014

477,417

0.00%

Virgolino de Oliveira Finance SA
11.75%, 02/09/2022

01/29/2014

838,866

162

0.00%

Wells Fargo Credit Risk Transfer Securities Trust
Series 2015-WF1, Class 2M2
10.65%, 11/25/2025

06/26/2018

127,779

122,850

0.01%

Wisconsin Public Finance Authority
(Catholic Bishop of Chicago (The))
Series 2021
5.75%, 07/25/2041

08/03/2021

1,435,000

1,284,823

0.14%

(i)

Position, or a portion thereof, has been segregated to collateralize reverse repurchase agreements.

(j)

Convertible security.

(k)

Defaulted.

(l)

Floating Rate Security. Stated interest/floor/ceiling rate was in effect at June 30, 2023.

(m)

Securities are perpetual and, thus, do not have a predetermined maturity date. The date shown, if applicable, reflects the next call date.

(n)

When-Issued or delayed delivery security.

(o)

The stated coupon rate represents the greater of the LIBOR or an alternate base rate such as the PRIME/SOFR or the LIBOR/PRIME/SOFR floor rate plus a spread at June 30, 2023.

(p)

Inverse interest only security.

(q)

IO - Interest Only.

(r)

Position, or a portion thereof, has been segregated to collateralize margin requirements for open futures contracts.

(s)

Position, or a portion thereof, has been segregated to collateralize OTC derivatives outstanding.

(t)

Position, or a portion thereof, has been segregated to collateralize margin requirements for open centrally cleared swaps.

(u)

Restricted and illiquid security.

Restricted & Illiquid Securities

Acquisition
Date

Cost

Market
Value

Percentage
of
Net Assets

Fideicomiso PA Concesion Ruta al Mar
6.75%, 02/15/2044

12/14/2017

476,791

192,917

0.02%

(v)

To obtain a copy of the fund’s shareholder report, please go to the Securities and Exchange Commission’s website at www.sec.gov, or call AB at (800) 227-4618.

(w)

The rate shown represents the 7-day yield as of period end.

(x)

As of June 30, 2023, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $19,686,551 and gross unrealized depreciation of investments was $(133,169,800), resulting in net unrealized depreciation of $(113,483,249).

Currency Abbreviations:

AUD – Australian Dollar

BRL – Brazilian Real

CAD – Canadian Dollar

CHF – Swiss Franc

CLP – Chilean Peso

CNH – Chinese Yuan Renminbi (Offshore)

COP – Colombian Peso

CZK – Czech Koruna

EUR – Euro

GBP – Great British Pound

HUF – Hungarian Forint

IDR – Indonesian Rupiah

INR – Indian Rupee

JPY – Japanese Yen

KRW – South Korean Won

MXN – Mexican Peso

NOK – Norwegian Krone

NZD – New Zealand Dollar

PEN – Peruvian Sol

PLN – Polish Zloty

SEK – Swedish Krona

SGD – Singapore Dollar

TWD – New Taiwan Dollar

USD – United States Dollar

ZAR – South African Rand

Glossary:

ABS – Asset-Backed Securities

CBT – Chicago Board of Trade

CDX-CMBX.NA – North American Commercial Mortgage-Backed Index

CDX-NAHY – North American High Yield Credit Default Swap Index

CLO – Collateralized Loan Obligations

CMBS – Commercial Mortgage-Backed Securities

EURIBOR – Euro Interbank Offered Rate

JSC – Joint Stock Company

LIBOR – London Interbank Offered Rate

OTC – Over-the-Counter

REIT – Real Estate Investment Trust

REMICs – Real Estate Mortgage Investment Conduits

SOFR – Secured Overnight Financing Rate

COUNTRY BREAKDOWN¹

June 30, 2023 (unaudited)


71.5	%	United States
4.5	%	United Kingdom
1.9	%	Germany
1.9	%	Canada
1.6	%	Luxembourg
1.5	%	France
1.4	%	Brazil
1.0	%	Mexico
1.0	%	Italy
0.9	%	India
0.8	%	Colombia
0.8	%	Spain
0.7	%	Dominican Republic
9.4	%	Other
1.1	%	Short-Term Investments

100.0	%	Total Investments

The Fund’s country breakdown is expressed as a percentage of total investments and may vary over time. The Portfolio also enters into derivative transactions, which may be used for hedging or investment purposes (see “Portfolio of Investments” section of the report for additional details). “Other” country weightings represent 0.6% or less in the following: Angola, Argentina, Australia, Belgium, Cayman Islands, Chile, China, Czech Republic, Ecuador, Egypt, El Salvador, Finland, Gabon, Ghana, Guatemala, Hong Kong, Indonesia, Ireland, Israel, Jamaica, Japan, Jersey (Channel Islands), Kazakhstan, Kuwait, Macau, Morocco, Netherlands, Nigeria, Norway, Panama, Peru, Senegal, Slovenia, South Africa, South Korea, Sweden, Switzerland, Trinidad & Tobago, Turkey, Ukraine, Venezuela and Zambia.

AB Global High Income Fund

June 30, 2023 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP establishes a framework for measuring fair value, and a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability (including those valued based on their market values). Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s own assumptions about the assumptions that market participants would use in pricing the asset or liability based on the best information available in the circumstances. Each investment is assigned a level based upon the observability of the inputs which are significant to the overall valuation. The three-tier hierarchy of inputs is summarized below.

•

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)

The fair value of debt instruments, such as bonds, and over-the-counter derivatives is generally based on market price quotations, recently executed market transactions (where observable) or industry recognized modeling techniques and are generally classified as Level 2. Pricing vendor inputs to Level 2 valuations may include quoted prices for similar investments in active markets, interest rate curves, coupon rates, currency rates, yield curves, option adjusted spreads, default rates, credit spreads and other unique security features in order to estimate the relevant cash flows which are then discounted to calculate fair values. If these inputs are unobservable and significant to the fair value, these investments will be classified as Level 3.

Where readily available market prices or relevant bid prices are not available for certain equity investments, such investments may be valued based on similar publicly traded investments, movements in relevant indices since last available prices or based upon underlying company fundamentals and comparable company data (such as multiples to earnings or other multiples to equity). Where an investment is valued using an observable input, such as another publicly traded security, the investment will be classified as Level 2. If management determines that an adjustment is appropriate based on restrictions on resale, illiquidity or uncertainty, and such adjustment is a significant component of the valuation, the investment will be classified as Level 3. An investment will also be classified as Level 3 where management uses company fundamentals and other significant inputs to determine the valuation.

Options are valued using market-based inputs to models, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency, where such inputs and models are available. Alternatively, the values may be obtained through unobservable management determined inputs and/or management’s proprietary models. Where models are used, the selection of a particular model to value an option depends upon the contractual terms of, and specific risks inherent in, the option as well as the availability of pricing information in the market. Valuation models require a variety of inputs, including contractual terms, market prices, measures of volatility and correlations of such inputs. Exchange traded options generally will be classified as Level 2. For options that do not trade on an exchange but trade in liquid markets, inputs can generally be verified and model selection does not involve significant management judgment. Options are classified within Level 2 on the fair value hierarchy when all of the significant inputs can be corroborated to market evidence. Otherwise such instruments are classified as Level 3.

Valuations of mortgage-backed or other asset-backed securities, by pricing vendors, are based on both proprietary and industry recognized models and discounted cash flow techniques. Significant inputs to the valuation of these instruments are value of the collateral, the rates and timing of delinquencies, the rates and timing of prepayments, and default and loss expectations, which are driven in part by housing prices for residential mortgages. Significant inputs are determined based on relative value analyses, which incorporate comparisons to instruments with similar collateral and risk profiles, including relevant indices. Mortgage and asset-backed securities for which management has collected current observable data through pricing services are generally categorized within Level 2. Those investments for which current observable data has not been provided are classified as Level 3.

Bank loan prices are provided by third party pricing services and consist of a composite of the quotes received by the vendor into a consensus price. Certain bank loans are classified as Level 3, as a significant input used in the fair value measurement of these instruments is the market quotes that are received by the vendor and these inputs are not observable.

Other fixed income investments, including non-U.S. government and corporate debt, are generally valued using quoted market prices, if available, which are typically impacted by current interest rates, maturity dates and any perceived credit risk of the issuer. Additionally, in the absence of quoted market prices, these inputs are used by pricing vendors to derive a valuation based upon

industry or proprietary models which incorporate issuer specific data with relevant yield/spread comparisons with more widely quoted bonds with similar key characteristics. Those investments for which there are observable inputs are classified as Level 2. Where the inputs are not observable, the investments are classified as Level 3.

The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of June 30, 2023:


Investments in Securities	Level 1			Level 2			Level 3			Total
Assets:
Corporates - Non-Investment Grade	$	-0-		$	505,387,421		$	1,472,138	#	$	506,859,559
Corporates - Investment Grade		-0-			152,518,784			-0-			152,518,784
Emerging Markets - Corporate Bonds		-0-			48,406,425			360,537	#		48,766,962
Collateralized Loan Obligations		-0-			43,741,872			-0-			43,741,872
Bank Loans		-0-			31,235,787			7,817,381			39,053,168
Collateralized Mortgage Obligations		-0-			36,890,711			-0-			36,890,711
Emerging Markets - Sovereigns		-0-			21,114,740			-0-			21,114,740
Governments - Treasuries		-0-			18,929,196			-0-			18,929,196
Quasi-Sovereigns		-0-			7,167,588			-0-			7,167,588
Common Stocks		2,140,761			90,139			4,412,322	#		6,643,222
Commercial Mortgage-Backed Securities		-0-			5,457,088			-0-			5,457,088
Local Governments - US Municipal Bonds		-0-			4,158,766			-0-			4,158,766
Preferred Stocks		939,876			-0-			880,400			1,820,276
Inflation-Linked Securities		-0-			1,786,121			-0-			1,786,121
Asset-Backed Securities		-0-			1,583,526			-0-			1,583,526
Governments - Sovereign Bonds		-0-			631,975			0	#		631,975
Rights		-0-			-0-			11,075	#		11,075
Short-Term Investments:
Investment Companies		7,334,586			-0-			-0-			7,334,586
Time Deposits		-0-			2,582,984			-0-			2,582,984

Total Investments in Securities		10,415,223			881,683,123			14,953,853			907,052,199
*Other Financial Instruments:**
Assets
Futures		53,797			-0-			-0-			53,797
Forward Currency Exchange Contracts		-0-			416,793			-0-			416,793
Centrally Cleared Credit Default Swaps		-0-			5,840,600			-0-			5,840,600
Credit Default Swaps		-0-			12,795			-0-			12,795
Total Return Swaps		-0-			460,092			-0-			460,092
Liabilities
Futures		(1,530,227	)		-0-			-0-			(1,530,227	)
Forward Currency Exchange Contracts		-0-			(426,262	)		-0-			(426,262	)
Centrally Cleared Credit Default Swaps		-0-			(176,842	)		-0-			(176,842	)
Credit Default Swaps		-0-			(3,831,196	)		-0-			(3,831,196	)
Reverse Repurchase Agreements		(11,906,932	)		-0-			-0-			(11,906,932	)

Total	$	(2,968,139	)	$	883,979,103		$	14,953,853		$	895,964,817

#	The Fund held securities with zero market value at period end.

Other financial instruments are derivative instruments, such as futures, forwards and swaps, which are valued at the unrealized appreciation (depreciation) on the instrument. Other financial instruments may also include swaps with upfront premiums, written options and written swaptions which are valued at market value.

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining fair value.


	Corporates - Non- Investment Grade#			Emerging Markets - Corporate Bonds#			Bank Loans			Common Stocks#
Balance as of 3/31/23	$	160,109		$	341,567		$	2,367,723		$	4,610,703
Accrued discounts/(premiums)		121			(1,648	)		-0-			-0-
Realized gain (loss)		-0-			1,871,017			108			-0-
Change in unrealized appreciation (depreciation)		(117,265	)		(1,850,399	)		150,543			(198,349	)
Purchases		1,429,173			-0-			1,158,716			-0-
Sales		-0-			-0-			(11,297	)		-0-
Transfers into Level 3		-0-			-0-			4,151,588			-0-
Transfers out of Level 3		-0-			-0-			-0-			(32	)

Balance as of 6/30/23	$	1,472,138		$	360,537		$	7,817,381		$	4,412,322

Net change in unrealized appreciation (depreciation) from investments held as of 6/30/23	$	(117,265	)	$	(1,852,531	)	$	150,543		$	(198,349	)

	Preferred Stocks			Governments - Sovereign Bonds#			Rights#			Total
Balance as of 3/31/23	$	766,800		$	-0-		$	12,597		$	8,259,499
Accrued discounts/(premiums)		-0-			-0-			-0-			(1,527	)
Realized gain (loss)		-0-			-0-			-0-			1,871,125
Change in unrealized appreciation (depreciation)		113,600			-0-			(1,522	)		(1,903,392	)
Purchases		5,153			-0-			-0-			2,593,042
Sales		(5,153	)		-0-			-0-			(16,450	)
Transfers into Level 3		-0-			-0-			-0-			4,151,588
Transfers out of Level 3		-0-			-0-			-0-			(32	)

Balance as of 6/30/23	$	880,400		$	-0-		$	11,075		$	14,953,853

Net change in unrealized appreciation (depreciation) from investments held as of 6/30/23	$	140,847		$	-0-		$	(1,522	)	$	(1,878,277	)

#	The Fund held securities with zero market value that were sold/expired/written off during the reporting period.

The following presents information about significant unobservable inputs related to the Fund’s Level 3 investments at June 30, 2023. Securities priced (i) by third party vendors, (ii) by brokers or (iii) using prior transaction prices, which approximates fair value, are excluded from the following table.


	Quantitative Information about Level 3 Fair Value Measurements
	Fair Value at 6/30/23		Valuation Technique	Unobservable Input	Input
Corporates - Non-Investment Grade	$	76,802	Recovery	Discount Rate and Assumed Recovery on Claim		20% & 50%
	$	-0-	Qualitative Assessment	Expected Sale Price	$	0.00

	$	76,802

Emerging Markets - Corporate Bonds	$	359,919	Recovery	Expected Sale Price	$	46.15
	$	-0-	Qualitative Assessment	Expected Sale Price	$	0.00
	$	-0-	Qualitative Assessment	Expected Sale Price	$	0.00

	$	359,919

Common Stocks	$	403,072	NAV Calculation	Catastrophe Claims	$	699.50
	$	321,500	Guideline Public Company, Discounted Cash Flow, and Optional Value	Volatility and Weighted Average Cost of Capital		30% & 14%
	$	91,548	NAV Calculation	Catastrophe Claims	$	699.50
	$	1	Qualitative Assessment	Expected Sale Price	$	0.00
	$	-0-	Qualitative Assessment	Expected Sale Price	$	0.00

	$	816,121

Governments - Sovereign Bonds	$	-0-	Qualitative Assessment	Expected Sale Price	$	0.00

Generally, a change in the assumptions used in any input in isolation may be accompanied by a change in another input. Significant changes in any of the unobservable inputs may significantly impact the fair value measurement. Significant increases (decreases) in Discount Rate, Expected Sale Price, Trade Price, Catastrophe Claims and Volatility in isolation would be expected to result in a significantly higher (lower) fair value measurement.

A summary of the Fund’s transactions in AB mutual funds for the three months ended June 30, 2023 is as follows:

Fund

Market Value
3/31/23

(000)

Purchases
at Cost
(000)

Sales
Proceeds
(000)

Market Value
6/30/23

(000)

Dividend
Income
(000)

Government Money Market Portfolio

10,074

47,303

50,042

7,335

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