EFT Eaton Vance Floating Rate Income Trust

N-CSR

The Commodity Futures Trading Commission (“CFTC”) has adopted regulations that subject registered investment companies and advisers to regulation by the CFTC if a fund invests more than a prescribed level of its assets in certain CFTC-regulated instruments (including futures, certain options and swap agreements) or markets itself as providing investment exposure to such instruments. The investment adviser has claimed an exclusion from the definition of “commodity pool operator” under the Commodity Exchange Act with respect to its management of the Fund. Accordingly, neither the Fund nor the adviser with respect to the operation of the Fund is subject to CFTC regulation. Because of its management of other strategies, the Fund's adviser is registered with the CFTC as a commodity pool operator. The adviser is also registered as a commodity trading advisor.

Fund shares are not insured by the FDIC and are not deposits or other obligations of, or guaranteed by, any depository institution. Shares are subject to investment risks, including possible loss of principal invested.

November 30, 2023

Andrew N. Sveen, CFA, Ralph H. Hinckley, Jr., CFA, Catherine C. McDermott, Daniel P. McElaney, CFA and Sarah A. Choi

See Endnotes and Additional Disclosures in this report.

Past performance is no guarantee of future results. Returns are historical and are calculated net of management fees and other expenses by determining the percentage change in net asset value (NAV) or market price (as applicable) with all distributions reinvested in accordance with the Fund’s Dividend Reinvestment Plan. Furthermore, returns do not reflect the deduction of taxes that shareholders may have to pay on Fund distributions or upon the sale of Fund shares. Performance at market price will differ from performance at NAV due to variations in the Fund’s market price versus NAV, which may reflect factors such as fluctuations in supply and demand for Fund shares, changes in Fund distributions, shifting market expectations for the Fund’s future returns and distribution rates, and other considerations affecting the trading prices of closed-end funds. Investment return and principal value will fluctuate so that shares, when sold, may be worth more or less than their original cost. Performance for periods less than or equal to one year is cumulative. Performance is for the stated time period only; due to market volatility, current Fund performance may be lower or higher than the quoted return. For performance as of the most recent month-end, please refer to eatonvance.com.

Top 10 Issuers (% of total investments) 1
Ultimate Software Group, Inc. (The)	1.1%
Banff Merger Sub, Inc.	0.9
Les Schwab Tire Centers	0.8
Phoenix Guarantor, Inc.	0.8
Asurion, LLC	0.8
Virgin Media Bristol, LLC	0.8
Mallinckrodt International Finance S.A.	0.8
WP CPP Holdings, LLC	0.8
Sophia, L.P.	0.8
Vision Solutions, Inc.	0.7
Total	8.3%

Top 10 Industries (% of total investments) 1
Software	13.8%
Health Care Providers & Services	5.7
Machinery	5.2
Chemicals	5.0
IT Services	3.9
Capital Markets	3.7
Specialty Retail	3.3
Commercial Services & Supplies	3.2
Hotels, Restaurants & Leisure	3.1
Professional Services	2.9
Total	49.8%

Credit Quality (% of total investments) 1,2

1	Morningstar® LSTA® US Leveraged Loan Index SM is an unmanaged index of the institutional leveraged loan market. Morningstar® LSTA® Leveraged Loan indices are a product of Morningstar, Inc. (“Morningstar”) and have been licensed for use. Morningstar® is a registered trademark of Morningstar licensed for certain use. Loan Syndications and Trading Association® and LSTA® are trademarks of the LSTA licensed for certain use by Morningstar, and further sublicensed by Morningstar for certain use. Neither Morningstar nor LSTA guarantees the accuracy and/or completeness of the Morningstar® LSTA® US Leveraged Loan Index SM or any data included therein, and shall have no liability for any errors, omissions, or interruptions therein. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index.
2	Performance results reflect the effects of leverage.
3	The shares of the Fund often trade at a discount or premium to their net asset value. The discount or premium may vary over time and may be higher or lower than what is quoted in this report. For up-to-date premium/discount information, please refer to https://funds.eatonvance.com/closed-end-fund-prices.php.
4	The Distribution Rate is based on the Fund’s last regular distribution per share in the period (annualized) divided by the Fund’s NAV or market price at the end of the period. The Fund’s distributions may be comprised of amounts characterized for federal income tax purposes as qualified and non-qualified ordinary dividends, capital gains and nondividend distributions, also known as return of capital. For additional information about nondividend distributions, please refer to Eaton Vance Closed-End Fund Distribution Notices (19a) posted on our website, eatonvance.com. The Fund will determine the federal income tax character of distributions paid to a shareholder after the end of the calendar year. This is reported on the IRS form 1099-DIV and provided to the shareholder shortly after each year-end. For information about the tax character of distributions made in prior calendar years, please refer to Performance-Tax Character of Distributions on the Fund’s webpage available at eatonvance. com. The Fund’s distributions are determined by the investment adviser based on its current assessment of the Fund’s long-term return potential. Fund distributions may be affected by numerous factors including changes in Fund performance, the cost of financing for leverage, portfolio holdings, realized and projected returns, and other factors. As portfolio and market conditions change, the rate of distributions paid by the Fund could change.
5	Leverage represents the liquidation value of the Fund’s VRTP Shares and borrowings outstanding as a percentage of Fund net assets applicable to common shares plus VRTP Shares and borrowings outstanding. Use of leverage creates an opportunity for income, but creates risks including greater price volatility. The cost of leverage rises and falls with changes in short-term interest rates. The Fund may be required to maintain prescribed asset coverage for its leverage and may be required to reduce its leverage at an inopportune time.

Fund profile subject to change due to active management.

	Important Notice to Shareholders
	On January 26, 2023, the Fund’s Board of Trustees voted to exempt, on a going forward basis, all prior and, until further notice, new acquisitions of Fund shares that otherwise might be deemed “Control Share Acquisitions” under the Fund’s By-Laws from the Control Share Provisions of the Fund’s By-Law.

4

Asset-Backed Securities — 8.7%

Security	Principal Amount (000's omitted)		Value
Ares XXXIIR CLO, Ltd., Series 2014-32RA, Class D, 11.491%, (3 mo. SOFR + 6.112%), 5/15/30 (1)(2)	$	2,000	$   1,801,050
Ares XXXIV CLO, Ltd., Series 2015-2A, Class ER, 12.514%, (3 mo. SOFR + 7.112%), 4/17/33 (1)(2)		1,300	1,223,461
Benefit Street Partners CLO XIX, Ltd., Series 2019-19A, Class E, 12.676%, (3 mo. SOFR + 7.282%), 1/15/33 (1)(2)		750	745,890
Benefit Street Partners CLO XVIII, Ltd., Series 2019-18A, Class ER, 12.406%, (3 mo. SOFR + 7.012%), 10/15/34 (1)(2)		1,000	966,792
Benefit Street Partners CLO XXII, Ltd., Series 2020-22A, Class ER, 12.346%, (3 mo. SOFR + 6.93%), 4/20/35 (1)(2)		1,000	971,787
BlueMountain CLO XXVI, Ltd., Series 2019-26A, Class ER, 12.807%, (3 mo. SOFR + 7.392%), 10/20/34 (1)(2)		1,500	1,465,032
Canyon Capital CLO, Ltd.:
Series 2019-2A, Class ER, 12.406%, (3 mo. SOFR + 7.012%), 10/15/34 (1)(2)		400	390,027
Series 2022-1A, Class E, 11.803%, (3 mo. SOFR + 6.40%), 4/15/35 (1)(2)		1,250	1,190,072
Carlyle Global Market Strategies CLO, Ltd.:
Series 2012-3A, Class DR2, 12.156%, (3 mo. SOFR + 6.762%), 1/14/32 (1)(2)		1,200	1,063,746
Series 2015-5A, Class DR, 12.377%, (3 mo. SOFR + 6.962%), 1/20/32 (1)(2)		500	432,974
Cedar Funding X CLO, Ltd., Series 2019-10A, Class ER, 12.177%, (3 mo. SOFR + 6.762%), 10/20/32 (1)(2)		1,000	965,988
Clover CLO, Ltd., Series 2019-1A, Class ER, 12.095%, (3 mo. SOFR + 6.70%), 4/18/35 (1)(2)		1,000	981,000
Galaxy XV CLO, Ltd., Series 2013-15A, Class ER, 12.301%, (3 mo. SOFR + 6.907%), 10/15/30 (1)(2)		1,000	970,734
Galaxy XXI CLO, Ltd., Series 2015-21A, Class ER, 10.927%, (3 mo. SOFR + 5.512%), 4/20/31 (1)(2)		1,000	952,740
Galaxy XXV CLO, Ltd., Series 2018-25A, Class E, 11.59%, (3 mo. SOFR + 6.212%), 10/25/31 (1)(2)		250	238,331
Golub Capital Partners CLO 23M, Ltd., Series 2015-23A, Class ER, 11.427%, (3 mo. SOFR + 6.012%), 1/20/31 (1)(2)		1,200	1,167,115
Golub Capital Partners CLO 50B-R, Ltd., Series 2020-50A, Class ER, 12.516%, (3 mo. SOFR + 7.10%), 4/20/35 (1)(2)		1,000	965,654
Madison Park Funding XXXVI, Ltd., Series 2019-36A, Class ER, 12.444%, (3 mo. SOFR + 7.05%), 4/15/35 (1)(2)		1,000	990,971
Neuberger Berman Loan Advisers CLO 48, Ltd., Series 2022-48A, Class E, 11.878%, (3 mo. SOFR + 6.50%), 4/25/36 (1)(2)		1,000	968,546

Security	Principal Amount (000's omitted)		Value
Palmer Square CLO, Ltd.:
Series 2013-2A, Class DRR, 11.514%, (3 mo. SOFR + 6.112%), 10/17/31 (1)(2)	$	900	$      890,501
Series 2014-1A, Class DR2, 11.364%, (3 mo. SOFR + 5.962%), 1/17/31 (1)(2)		1,500	1,455,822
Series 2015-1A, Class DR4, 12.129%, (3 mo. SOFR + 6.762%), 5/21/34 (1)(2)		500	481,103
Series 2019-1A, Class DR, 12.139%, (3 mo. SOFR + 6.762%), 11/14/34 (1)(2)		1,000	1,005,075
RAD CLO 5, Ltd., Series 2019-5A, Class E, 12.36%, (3 mo. SOFR + 6.962%), 7/24/32 (1)(2)		1,000	992,664
RAD CLO 7, Ltd., Series 2020-7A, Class E, 12.164%, (3 mo. SOFR + 6.762%), 4/17/33 (1)(2)		1,275	1,269,141
Regatta XIV Funding, Ltd., Series 2018-3A, Class E, 11.59%, (3 mo. SOFR + 6.212%), 10/25/31 (1)(2)		700	654,737
Regatta XVI Funding, Ltd., Series 2019-2A, Class E, 12.656%, (3 mo. SOFR + 7.262%), 1/15/33 (1)(2)		750	741,546
Vibrant CLO X, Ltd., Series 2018-10A, Class D, 11.867%, (3 mo. SOFR + 6.452%), 10/20/31 (1)(2)		850	693,399
Vibrant CLO XI, Ltd., Series 2019-11A, Class D, 12.447%, (3 mo. SOFR + 7.032%), 7/20/32 (1)(2)		1,000	919,849
Voya CLO, Ltd., Series 2013-1A, Class DR, 12.136%, (3 mo. SOFR + 6.742%), 10/15/30 (1)(2)		2,000	1,444,832
Wellfleet CLO, Ltd., Series 2020-1A, Class D, 12.896%, (3 mo. SOFR + 7.502%), 4/15/33 (1)(2)		1,300	1,198,565
Total Asset-Backed Securities (identified cost $31,874,262)			$  30,199,144

    

Closed-End Funds — 2.1%

Security	Shares		Value
BlackRock Floating Rate Income Strategies Fund, Inc.		111,292	$    1,336,617
Invesco Senior Income Trust		402,161	1,608,644
Nuveen Credit Strategies Income Fund		406,731	2,045,857
Nuveen Floating Rate Income Fund		278,390	2,224,336
Total Closed-End Funds (identified cost $9,825,283)			$   7,215,454

    

Common Stocks — 1.1%

Security	Shares		Value
Aerospace and Defense — 0.0%
IAP Worldwide Services, LLC (3)(4)(5)		58	$            0
			$           0

5

Security	Shares		Value
Chemicals — 0.0%
Flint Campfire Topco, Ltd., Class A (3)(4)(5)		219,691	$            0
			$           0
Commercial Services & Supplies — 0.2%
Monitronics International, Inc. (4)(5)		20,728	$      435,288
Phoenix Services International, LLC (4)(5)		17,026	161,747
Phoenix Services International, LLC (4)(5)		1,554	14,763
			$     611,798
Electronics/Electrical — 0.0%
Skillsoft Corp. (4)		2,823	$       54,032
			$      54,032
Entertainment — 0.1%
New Cineworld, Ltd. (4)(5)		15,478	$      278,604
			$     278,604
Health Care — 0.1%
Envision Parent, Inc. (4)(5)		49,670	$      459,448
			$     459,448
Household Durables — 0.3%
Serta Simmons Bedding, Inc. (4)(5)		81,273	$    1,036,231
Serta SSB Equipment Co. (3)(4)(5)		81,273	0
			$   1,036,231
Investment Companies — 0.0% (6)
Aegletes B.V. (4)(5)		15,179	$       36,619
Jubilee Topco, Ltd., Class A (3)(4)(5)		506,431	0
			$      36,619
Pharmaceuticals — 0.4%
Covis Midco 1 S.a.r.l., Class A (4)(5)		501	$          255
Covis Midco 1 S.a.r.l., Class B (4)(5)		501	255
Covis Midco 1 S.a.r.l., Class C (4)(5)		501	255
Covis Midco 1 S.a.r.l., Class D (4)(5)		501	256
Covis Midco 1 S.a.r.l., Class E (4)(5)		501	256
Mallinckrodt International Finance S.A. (4)(5)		30,561	1,180,419
			$   1,181,696
Retailers (Except Food and Drug) — 0.0% (6)
Phillips Feed Service, Inc. (3)(4)(5)		613	$       32,169
			$      32,169

Security	Shares		Value
Telecommunications — 0.0%
GEE Acquisition Holdings Corp. (3)(4)(5)		46,236	$            0
			$           0
Total Common Stocks (identified cost $5,893,410)			$   3,690,597

    

Corporate Bonds — 7.5%

Security	Principal Amount (000's omitted)		Value
Aerospace and Defense — 0.2%
TransDigm, Inc., 4.875%, 5/1/29	$	700	$      634,931
			$     634,931
Automotive — 0.3%
Clarios Global, L.P./Clarios US Finance Co., 8.50%, 5/15/27 (1)	$	1,000	$    1,007,867
			$   1,007,867
Building and Development — 0.3%
Smyrna Ready Mix Concrete, LLC, 6.00%, 11/1/28 (1)	$	625	$      594,500
Standard Industries, Inc., 4.75%, 1/15/28 (1)		625	588,034
			$   1,182,534
Business Equipment and Services — 0.7%
GEMS MENASA Cayman, Ltd./GEMS Education Delaware, LLC, 7.125%, 7/31/26 (1)	$	1,000	$      972,395
Prime Security Services Borrower, LLC/Prime Finance, Inc.:
5.25%, 4/15/24 (1)		600	596,916
5.75%, 4/15/26 (1)		750	742,362
			$   2,311,673
Cable and Satellite Television — 0.1%
CCO Holdings, LLC/CCO Holdings Capital Corp., 4.50%, 8/15/30 (1)	$	625	$      536,649
			$     536,649
Chemicals and Plastics — 0.3%
NOVA Chemicals Corp., 4.875%, 6/1/24 (1)	$	1,000	$      989,393
			$     989,393

Security	Principal Amount (000's omitted)		Value
Cosmetics/Toiletries — 0.2%
Edgewell Personal Care Co., 5.50%, 6/1/28 (1)	$	625	$      595,944
			$     595,944
Distribution & Wholesale — 0.4%
BCPE Empire Holdings, Inc., 7.625%, 5/1/27 (1)	$	625	$      597,309
Performance Food Group, Inc., 5.50%, 10/15/27 (1)		1,000	968,950
			$   1,566,259
Diversified Financial Services — 0.1%
VistaJet Malta Finance PLC/Vista Management Holding, Inc., 6.375%, 2/1/30 (1)	$	625	$      437,694
			$     437,694
Engineering & Construction — 0.2%
TopBuild Corp., 3.625%, 3/15/29 (1)	$	625	$      546,603
			$     546,603
Entertainment — 0.3%
Caesars Entertainment, Inc., 8.125%, 7/1/27 (1)	$	1,000	$    1,019,608
			$   1,019,608
Financial Intermediaries — 0.2%
Ford Motor Credit Co., LLC, 3.625%, 6/17/31	$	1,000	$      830,978
			$     830,978
Food Service — 0.2%
Albertsons Cos., Inc./Safeway, Inc./New Albertsons L.P./Albertsons, LLC, 3.50%, 3/15/29 (1)	$	625	$      554,379
			$     554,379
Health Care — 0.8%
Centene Corp., 3.375%, 2/15/30	$	977	$      845,542
LifePoint Health, Inc., 5.375%, 1/15/29 (1)		625	409,921
Tenet Healthcare Corp., 6.875%, 11/15/31		1,000	989,400
US Acute Care Solutions, LLC, 6.375%, 3/1/26 (1)		625	492,869
			$   2,737,732
Home Furnishings — 0.1%
Tempur Sealy International, Inc., 4.00%, 4/15/29 (1)	$	625	$      541,507
			$     541,507
Insurance — 0.3%
Alliant Holdings Intermediate, LLC/Alliant Holdings Co-Issuer, 6.75%, 10/15/27 (1)	$	625	$      600,000

Security	Principal Amount (000's omitted)		Value
Insurance (continued)
AmWINS Group, Inc., 4.875%, 6/30/29 (1)	$	600	$      540,449
			$   1,140,449
Leisure Goods/Activities/Movies — 0.3%
NCL Corp., Ltd., 5.875%, 2/15/27 (1)	$	550	$      532,999
Viking Cruises, Ltd., 5.875%, 9/15/27 (1)		625	588,994
			$   1,121,993
Media — 0.3%
Audacy Capital Corp., 6.50%, 5/1/27 (1)(7)	$	625	$       10,937
iHeartCommunications, Inc.:
6.375%, 5/1/26		208	176,938
8.375%, 5/1/27		376	263,766
Sirius XM Radio, Inc., 4.00%, 7/15/28 (1)		625	558,945
			$   1,010,586
Nonferrous Metals/Minerals — 0.1%
New Gold, Inc., 7.50%, 7/15/27 (1)	$	474	$      464,573
			$     464,573
Oil and Gas — 0.5%
Neptune Energy Bondco PLC, 6.625%, 5/15/25 (1)	$	1,000	$      996,165
Permian Resources Operating, LLC, 5.375%, 1/15/26 (1)		625	605,069
			$   1,601,234
Pipelines — 0.2%
EQM Midstream Partners, L.P., 4.75%, 1/15/31 (1)	$	625	$      557,036
			$     557,036
Real Estate Investment Trusts (REITs) — 0.2%
HAT Holdings I, LLC/HAT Holdings II, LLC, 3.375%, 6/15/26 (1)	$	625	$      566,337
			$     566,337
Retail — 0.0% (6)
Evergreen AcqCo 1, L.P./TVI, Inc., 9.75%, 4/26/28 (1)	$	54	$       56,071
Kohl's Corp., 4.625%, 5/1/31		154	112,761
			$     168,832
Retailers (Except Food and Drug) — 0.3%
Dave & Buster's, Inc., 7.625%, 11/1/25 (1)	$	500	$      501,787
PetSmart, Inc./PetSmart Finance Corp., 7.75%, 2/15/29 (1)		500	471,748
			$     973,535

Security	Principal Amount (000's omitted)		Value
Technology — 0.2%
athenahealth Group, Inc., 6.50%, 2/15/30 (1)	$	625	$      542,168
			$     542,168
Telecommunications — 0.3%
Connect Finco S.a.r.l./Connect US Finco, LLC, 6.75%, 10/1/26 (1)	$	1,000	$      960,967
			$     960,967
Utilities — 0.2%
NRG Energy, Inc., 3.625%, 2/15/31 (1)	$	1,000	$      818,488
			$     818,488
Wireless Telecommunication Services — 0.2%
Digicel International Finance, Ltd./Digicel International Holdings, Ltd., 8.75%, 5/25/24 (1)	$	600	$      552,990
			$     552,990
Total Corporate Bonds (identified cost $27,354,173)			$  25,972,939

    

Senior Floating-Rate Loans — 138.4% (8)

Borrower/Description	Principal Amount * (000's omitted)		Value
Aerospace and Defense — 2.2%
AI Convoy (Luxembourg) S.a.r.l., Term Loan, 7.722%, (3 mo. EURIBOR + 3.50%), 1/18/27	EUR	450	$      477,580
Dynasty Acquisition Co., Inc.:
Term Loan, 9.348%, (SOFR + 4.00%), 8/24/28		1,855	1,855,519
Term Loan, 9.348%, (SOFR + 4.00%), 8/24/28		795	795,222
IAP Worldwide Services, Inc., Term Loan - Second Lien, 12.152%, (3 mo. USD LIBOR + 6.50%), 7/18/23 (3)		408	316,279
WP CPP Holdings, LLC, Term Loan, 9.29%, (SOFR + 3.75%), 4/30/25		4,215	4,168,678
			$   7,613,278
Airlines — 1.0%
American Airlines, Inc., Term Loan, 10.427%, (SOFR + 4.75%), 4/20/28		2,745	$    2,791,750
Mileage Plus Holdings, LLC, Term Loan, 10.798%, (SOFR + 5.25%), 6/21/27		600	619,364
			$   3,411,114

Borrower/Description	Principal Amount * (000's omitted)		Value
Apparel & Luxury Goods — 0.8%
Gloves Buyer, Inc.:
Term Loan, 9.343%, (SOFR + 4.00%), 12/29/27		1,663	$    1,633,783
Term Loan, 10.343%, (SOFR + 5.00%), 12/29/27		599	586,530
Hanesbrands, Inc., Term Loan, 9.098%, (SOFR + 3.75%), 3/8/30		373	364,730
			$   2,585,043
Auto Components — 4.0%
Adient US, LLC, Term Loan, 8.713%, (SOFR + 3.25%), 4/10/28		1,626	$    1,629,450
Autokiniton US Holdings, Inc., Term Loan, 9.963%, (SOFR + 4.50%), 4/6/28		3,254	3,262,335
Clarios Global, L.P.:
Term Loan, 7.097%, (1 mo. EURIBOR + 3.25%), 4/30/26	EUR	630	686,744
Term Loan, 9.098%, (SOFR + 3.75%), 5/6/30		2,125	2,130,844
DexKo Global, Inc.:
Term Loan, 7.972%, (3 mo. EURIBOR + 4.00%), 10/4/28	EUR	240	252,008
Term Loan, 7.972%, (3 mo. EURIBOR + 4.00%), 10/4/28	EUR	535	562,581
Term Loan, 9.402%, (SOFR + 3.75%), 10/4/28		690	677,261
Garrett LX I S.a.r.l., Term Loan, 8.895%, (SOFR + 3.25%), 4/30/28		760	760,449
Garrett Motion, Inc., Term Loan, 9.883%, (SOFR + 4.50%), 4/30/28		679	683,661
LSF12 Badger Bidco, LLC, Term Loan, 11.348%, (SOFR + 6.00%), 8/30/30		300	299,625
LTI Holdings, Inc., Term Loan, 10.213%, (SOFR + 4.75%), 7/24/26		589	552,781
RealTruck Group, Inc.:
Term Loan, 8.963%, (SOFR + 3.50%), 1/31/28		1,814	1,747,119
Term Loan, 10.436%, (SOFR + 5.00%), 1/31/28		700	686,000
			$  13,930,858
Automobiles — 0.6%
MajorDrive Holdings IV, LLC:
Term Loan, 9.652%, (SOFR + 4.00%), 6/1/28		660	$      651,771
Term Loan, 11.04%, (SOFR + 5.50%), 6/1/29		1,478	1,470,112
			$   2,121,883
Beverages — 1.3%
Arterra Wines Canada, Inc., Term Loan, 9.152%, (SOFR + 3.50%), 11/24/27		1,070	$    1,020,107

Borrower/Description	Principal Amount * (000's omitted)		Value
Beverages (continued)
City Brewing Company, LLC, Term Loan, 9.164%, (SOFR + 3.50%), 4/5/28		1,259	$    1,023,792
Triton Water Holdings, Inc., Term Loan, 8.902%, (SOFR + 3.25%), 3/31/28		2,444	2,406,527
			$   4,450,426
Biotechnology — 0.2%
Alkermes, Inc., Term Loan, 7.946%, (SOFR + 2.50%), 3/12/26		383	$      382,302
Alltech, Inc., Term Loan, 9.355%, (SOFR + 4.00%), 10/13/28		418	412,865
			$     795,167
Building Products — 1.9%
Cornerstone Building Brands, Inc., Term Loan, 8.673%, (SOFR + 3.25%), 4/12/28		1,797	$    1,758,886
LHS Borrower, LLC, Term Loan, 10.198%, (SOFR + 4.75%), 2/16/29		1,023	901,747
MI Windows and Doors, LLC, Term Loan, 8.948%, (SOFR + 3.50%), 12/18/27		2,024	2,029,125
Oscar AcquisitionCo, LLC, Term Loan, 9.99%, (SOFR + 4.50%), 4/29/29		817	801,232
Standard Industries, Inc., Term Loan, 7.699%, (SOFR + 2.25%), 9/22/28		934	935,832
			$   6,426,822
Capital Markets — 5.9%
Advisor Group, Inc., Term Loan, 9.848%, (SOFR + 4.50%), 8/17/28		2,362	$    2,366,494
AllSpring Buyer, LLC, Term Loan, 8.949%, (SOFR + 3.25%), 11/1/28		1,333	1,316,706
Aretec Group, Inc., Term Loan, 9.948%, (SOFR + 4.50%), 8/9/30		4,158	4,107,618
Citadel Securities, L.P., Term Loan, 7.963%, (SOFR + 2.50%), 7/29/30		748	748,720
Citco Funding, LLC, Term Loan, 8.633%, (SOFR + 3.25%), 4/27/28		800	802,500
Edelman Financial Center, LLC, Term Loan, 8.963%, (SOFR + 3.50%), 4/7/28		2,495	2,474,179
EIG Management Company, LLC, Term Loan, 9.198%, (SOFR + 3.75%), 2/22/25		260	259,875
FinCo I, LLC, Term Loan, 8.383%, (SOFR + 3.00%), 6/27/29		1,247	1,250,460
Focus Financial Partners, LLC:
Term Loan, 8.598%, (SOFR + 3.25%), 6/30/28		1,072	1,073,090
Term Loan, 8.848%, (SOFR + 3.50%), 6/30/28		625	626,237

Borrower/Description	Principal Amount * (000's omitted)		Value
Capital Markets (continued)
HighTower Holdings, LLC, Term Loan, 9.38%, (SOFR + 4.00%), 4/21/28		1,985	$    1,978,195
Hudson River Trading, LLC, Term Loan, 8.463%, (SOFR + 3.00%), 3/20/28		1,724	1,714,143
Mariner Wealth Advisors, LLC, Term Loan, 8.901%, (SOFR + 3.25%), 8/18/28		1,668	1,653,823
			$  20,372,040
Chemicals — 8.0%
Aruba Investments, Inc.:
Term Loan, 7.847%, (1 mo. EURIBOR + 4.00%), 11/24/27	EUR	512	$      527,925
Term Loan, 9.448%, (SOFR + 4.00%), 11/24/27		1,524	1,507,710
Axalta Coating Systems U.S. Holdings, Inc.:
Term Loan, 12/20/29 (9)		110	110,848
Term Loan, 12/20/29 (9)		1,884	1,891,012
Charter NEX US, Inc., Term Loan, 9.213%, (SOFR + 3.75%), 12/1/27		1,234	1,230,910
CPC Acquisition Corp., Term Loan, 9.402%, (SOFR + 3.75%), 12/29/27		717	541,501
Flint Group Midco Ltd.:
Term Loan, 10.674%, (SOFR + 5.26%), 9.924% cash, 0.75% PIK, 12/31/26		386	357,991
Term Loan, 12.674%, (SOFR + 7.26%), 5.774% cash, 6.90% PIK, 12/31/27		188	137,150
Term Loan - Second Lien, 12.674%, (SOFR + 7.26%), 5.774% cash, 6.90% PIK, 12/31/27		251	41,375
Gemini HDPE, LLC, Term Loan, 8.645%, (SOFR + 3.00%), 12/31/27		729	726,252
Groupe Solmax, Inc., Term Loan, 10.259%, (SOFR + 4.75%), 5/29/28 (10)		1,515	1,409,224
INEOS Enterprises Holdings II Ltd., Term Loan, 7.964%, (3 mo. EURIBOR + 4.00%), 7/7/30	EUR	200	215,360
INEOS Enterprises Holdings US Finco, LLC, Term Loan, 9.238%, (SOFR + 3.75%), 7/8/30		1,075	1,057,531
INEOS Finance PLC:
Term Loan, 6.597%, (1 mo. EURIBOR + 2.75%), 11/8/28	EUR	625	652,817
Term Loan, 7.847%, (1 mo. EURIBOR + 4.00%), 11/8/27	EUR	4	4,093
INEOS Quattro Holdings UK, Ltd.:
Term Loan, 7.847%, (1 mo. EURIBOR + 4.00%), 3/14/30	EUR	275	287,813
Term Loan, 9.198%, (SOFR + 3.75%), 3/14/30		848	821,379
Term Loan, 9.698%, (SOFR + 4.25%), 4/2/29		1,955	1,908,569
INEOS US Finance, LLC:
Term Loan, 7.948%, (SOFR + 2.50%), 11/8/28		517	513,085
Term Loan, 8.948%, (SOFR + 3.50%), 2/18/30		748	743,048

Borrower/Description	Principal Amount * (000's omitted)		Value
Chemicals (continued)
Kraton Corporation, Term Loan, 8.921%, (SOFR + 3.25%), 3/15/29		1,138	$    1,096,641
Kraton Polymers Holdings B.V., Term Loan, 7.25%, (EURIBOR + 3.25%), 3/15/29 (10)	EUR	300	311,855
Lonza Group AG, Term Loan, 9.415%, (SOFR + 3.93%), 7/3/28		2,469	2,106,246
Momentive Performance Materials, Inc., Term Loan, 9.848%, (SOFR + 4.50%), 3/29/28		1,918	1,838,996
Olympus Water US Holding Corporation:
Term Loan, 9.99%, (SOFR + 4.50%), 11/9/28		345	345,073
Term Loan, 10.39%, (SOFR + 5.00%), 11/9/28		2,000	2,008,250
Rohm Holding GmbH, Term Loan, 10.881%, (SOFR + 5.00%), 7/31/26		1,460	1,310,145
SCUR-Alpha 1503 GmbH, Term Loan, 10.883%, (SOFR + 5.50%), 3/29/30		498	442,778
Starfruit Finco B.V., Term Loan, 9.423%, (SOFR + 4.00%), 4/3/28		623	619,801
Tronox Finance, LLC, Term Loan, 8.848%, (SOFR + 3.50%), 8/16/28		500	499,375
W.R. Grace & Co.-Conn., Term Loan, 9.402%, (SOFR + 3.75%), 9/22/28		2,432	2,429,407
			$  27,694,160
Commercial Services & Supplies — 5.0%
Albion Financing 3 S.a.r.l.:
Term Loan, 10.878%, (SOFR + 5.50%), 8/17/26		274	$      274,138
Term Loan, 10.924%, (SOFR + 5.25%), 8/17/26		1,351	1,353,190
Allied Universal Holdco, LLC, Term Loan, 9.198%, (SOFR + 3.75%), 5/12/28		1,991	1,941,822
Belfor Holdings, Inc., Term Loan, 9.098%, (SOFR + 3.75%), 11/1/30		650	650,813
EnergySolutions, LLC, Term Loan, 9.382%, (SOFR + 4.00%), 9/20/30		1,684	1,681,527
Garda World Security Corporation, Term Loan, 9.746%, (SOFR + 4.25%), 10/30/26		2,426	2,425,323
GFL Environmental, Inc., Term Loan, 7.912%, (SOFR + 2.50%), 5/31/27		28	27,865
JFL-Tiger Acquisition Co., Inc., Term Loan, 10.403%, (SOFR + 5.00%), 10/17/30		725	721,979
LABL, Inc., Term Loan, 10.448%, (SOFR + 5.00%), 10/29/28		614	581,824
Monitronics International, Inc., Term Loan, 13.145%, (SOFR + 7.50%), 6/30/28		1,142	1,152,380
Phoenix Services International, LLC, Term Loan, 11.448%, (SOFR + 6.10%), 6/30/28		205	192,062
SITEL Worldwide Corporation, Term Loan, 9.098%, (SOFR + 3.75%), 8/28/28		2,291	2,192,067

Borrower/Description	Principal Amount * (000's omitted)		Value
Commercial Services & Supplies (continued)
Tempo Acquisition, LLC, Term Loan, 8.098%, (SOFR + 2.75%), 8/31/28		1,616	$    1,618,813
TMF Group Holding B.V., Term Loan, 10.414%, (SOFR + 5.00%), 5/3/28		375	377,109
TruGreen Limited Partnership, Term Loan, 9.448%, (SOFR + 4.00%), 11/2/27		2,098	1,977,559
			$  17,168,471
Communications Equipment — 0.1%
Digi International, Inc., Term Loan, 10.463%, (SOFR + 5.00%), 11/1/28		290	$      291,007
			$     291,007
Construction Materials — 0.7%
Quikrete Holdings, Inc., Term Loan, 8.213%, (SOFR + 2.75%), 3/19/29		2,463	$    2,466,502
			$   2,466,502
Consumer Staples Distribution & Retail — 0.6%
Cardenas Markets, Inc., Term Loan, 12.24%, (SOFR + 6.75%), 8/1/29		423	$      423,481
Peer Holding III B.V.:
Term Loan, 7.722%, (3 mo. EURIBOR + 3.75%), 9/29/28	EUR	550	598,894
Term Loan, 10/28/30 (9)		1,125	1,125,234
			$   2,147,609
Containers & Packaging — 2.1%
Berlin Packaging, LLC, Term Loan, 9.195%, (SOFR + 3.75%), 3/11/28 (10)		1,775	$    1,759,383
Clydesdale Acquisition Holdings, Inc., Term Loan, 9.623%, (SOFR + 4.18%), 4/13/29		2,498	2,481,703
Pretium Packaging, LLC, Term Loan - Second Lien, 9.995%, (SOFR + 4.60%), 10/2/28		483	377,389
Pretium PKG Holdings, Inc., Term Loan - Second Lien, 12.19%, (SOFR + 6.75%), 10/1/29		300	126,500
Proampac PG Borrower, LLC, Term Loan, 9.881%, (SOFR + 4.50%), 9/15/28		1,150	1,144,250
Trident TPI Holdings, Inc., Term Loan, 9.89%, (SOFR + 4.50%), 9/15/28		1,257	1,237,698
			$   7,126,923
Distributors — 0.0% (6)
Phillips Feed Service, Inc., Term Loan, 12.448%, (SOFR + 7.00%), 11/13/24 (3)		111	$       89,145
			$      89,145

Borrower/Description	Principal Amount * (000's omitted)		Value
Diversified Consumer Services — 1.1%
Ascend Learning, LLC, Term Loan, 8.948%, (SOFR + 3.50%), 12/11/28		565	$      553,020
KUEHG Corp., Term Loan, 10.39%, (SOFR + 5.00%), 6/12/30		2,100	2,105,414
Sotheby's, Term Loan, 10.156%, (SOFR + 4.50%), 1/15/27		828	808,572
Spring Education Group, Inc., Term Loan, 9.914%, (SOFR + 4.50%), 10/4/30		375	374,961
			$   3,841,967
Diversified Financial Services — 0.5%
Concorde Midco, Ltd., Term Loan, 7.892%, (6 mo. EURIBOR + 4.00%), 3/1/28	EUR	575	$      612,588
Sandy BidCo B.V., Term Loan, 7.876%, (6 mo. EURIBOR + 3.75%), 8/17/29	EUR	950	1,021,149
			$   1,633,737
Diversified Telecommunication Services — 2.2%
Altice France S.A., Term Loan, 10.894%, (SOFR + 5.50%), 8/15/28		1,234	$    1,058,582
GEE Holdings 2, LLC:
Term Loan, 13.50%, (SOFR + 8.00%), 3/24/25		408	371,315
Term Loan - Second Lien, 13.75%, (SOFR + 8.25%), 7.00% cash, 6.75% PIK, 3/23/26		920	551,792
Virgin Media Bristol, LLC, Term Loan, 8.687%, (SOFR + 3.25%), 1/31/29		4,250	4,217,534
Zayo Group Holdings, Inc., Term Loan, 7.097%, (1 mo. EURIBOR + 3.25%), 3/9/27	EUR	1,414	1,315,914
			$   7,515,137
Electrical Equipment — 0.4%
AZZ, Inc., Term Loan, 9.098%, (SOFR + 3.75%), 5/13/29		1,314	$    1,319,192
			$   1,319,192
Electronic Equipment, Instruments & Components — 2.8%
Chamberlain Group, Inc., Term Loan, 8.698%, (SOFR + 3.25%), 11/3/28		1,326	$    1,301,597
Creation Technologies, Inc., Term Loan, 11.176%, (SOFR + 5.50%), 10/5/28		1,332	1,272,275
Ingram Micro, Inc., Term Loan, 8.653%, (SOFR + 3.00%), 6/30/28		2,750	2,748,281
Mirion Technologies, Inc., Term Loan, 8.402%, (SOFR + 2.75%), 10/20/28		523	523,717
MX Holdings US, Inc., Term Loan, 7/31/28 (9)		250	250,469

Borrower/Description	Principal Amount * (000's omitted)		Value
Electronic Equipment, Instruments & Components (continued)
Robertshaw US Holding Corp.:
Term Loan, 18.494%, (SOFR + 13.00%), 13.494% cash, 5.00% PIK, 2/28/27		241	$      243,011
Term Loan - Second Lien, 12.49%, (SOFR + 7.00%), 2/28/27		1,016	838,319
Verifone Systems, Inc., Term Loan, 9.641%, (SOFR + 4.00%), 8/20/25		1,213	1,155,218
Verisure Holding AB:
Term Loan, 6.969%, (3 mo. EURIBOR + 3.00%), 7/20/26	EUR	325	352,473
Term Loan, 6.972%, (3 mo. EURIBOR + 3.00%), 3/27/28	EUR	850	915,573
			$   9,600,933
Energy Equipment & Services — 0.2%
Ameriforge Group, Inc., Term Loan, 18.436%, (SOFR + 13.00%), 13.436% cash, 5.00% PIK, 2/1/26 (3)(11)		57	$       45,547
GIP Pilot Acquisition Partners L.P., Term Loan, 8.388%, (SOFR + 3.00%), 10/4/30		475	475,000
			$     520,547
Engineering & Construction — 1.0%
Aegion Corporation, Term Loan, 10.395%, (SOFR + 4.75%), 5/17/28		1,284	$    1,272,987
American Residential Services, LLC, Term Loan, 9.152%, (SOFR + 3.50%), 10/15/27		608	606,293
Northstar Group Services, Inc., Term Loan, 10.963%, (SOFR + 5.50%), 11/12/26		1,493	1,492,523
			$   3,371,803
Entertainment — 1.1%
City Football Group Limited, Term Loan, 8.455%, (SOFR + 3.00%), 7/21/28		983	$      978,201
Crown Finance US, Inc., Term Loan, 7.381%, (SOFR + 1.50%), 7/31/28		331	338,495
EP Purchaser, LLC, Term Loan, 9.152%, (SOFR + 3.50%), 11/6/28		345	338,861
Renaissance Holding Corp., Term Loan, 10.098%, (SOFR + 4.75%), 4/5/30		1,925	1,925,362
Vue International Bidco PLC:
Term Loan, 12.13%, (6 mo. EURIBOR + 8.00%), 6/30/27	EUR	76	80,872
Term Loan, 12.63%, (EURIBOR + 8.50%), 6.13% cash, 6.50% PIK, 12/31/27	EUR	530	199,909
			$   3,861,700
Financial Services — 1.3%
GTCR W Merger Sub, LLC, Term Loan, 9/20/30 (9)		3,025	$    3,026,891

Borrower/Description	Principal Amount * (000's omitted)		Value
Financial Services (continued)
NCR Atleos, LLC, Term Loan, 10.198%, (SOFR + 4.75%), 3/27/29		1,350	$    1,325,250
			$   4,352,141
Food Products — 1.4%
8th Avenue Food & Provisions, Inc., Term Loan, 10.213%, (SOFR + 4.75%), 10/1/25		490	$      463,662
Badger Buyer Corp., Term Loan, 8.963%, (SOFR + 3.50%), 9/30/24		353	315,488
CHG PPC Parent, LLC, Term Loan, 8.463%, (SOFR + 3.00%), 12/8/28		394	394,466
Del Monte Foods, Inc., Term Loan, 9.704%, (SOFR + 4.25%), 5/16/29		893	886,414
Nomad Foods US, LLC, Term Loan, 11/13/29 (9)		2,000	2,003,626
United Petfood Group B.V., Term Loan, 6.852%, (6 mo. EURIBOR + 2.75%), 4/23/28	EUR	775	826,716
			$   4,890,372
Gas Utilities — 0.9%
CQP Holdco, L.P., Term Loan, 8.99%, (SOFR + 3.50%), 6/5/28		2,913	$    2,922,246
			$   2,922,246
Health Care Equipment & Supplies — 1.7%
Artivion, Inc., Term Loan, 8.963%, (SOFR + 3.50%), 6/1/27		495	$      480,174
Bayou Intermediate II, LLC, Term Loan, 10.154%, (SOFR + 4.50%), 8/2/28		1,757	1,687,107
Journey Personal Care Corp., Term Loan, 9.981%, (6 mo. USD LIBOR + 4.25%), 3/1/28		2,593	2,508,283
Medline Borrower, L.P., Term Loan, 8.463%, (SOFR + 3.00%), 10/23/28		1,231	1,232,917
			$   5,908,481
Health Care Providers & Services — 9.0%
AEA International Holdings (Lux) S.a.r.l., Term Loan, 9.402%, (SOFR + 3.75%), 9/7/28		1,629	$    1,628,568
Biogroup-LCD, Term Loan, 7.216%, (3 mo. EURIBOR + 3.25%), 2/9/28	EUR	250	260,503
BW NHHC Holdco, Inc., Term Loan - Second Lien, 13.39%, (SOFR + 8.00%), 1/15/26		2,485	2,124,294
Cano Health, LLC, Term Loan, 9.533%, (SOFR + 4.00%), 11/23/27 (10)		2,487	1,071,720
CCRR Parent, Inc., Term Loan, 9.213%, (SOFR + 3.75%), 3/6/28		2,675	2,534,487

Borrower/Description	Principal Amount * (000's omitted)		Value
Health Care Providers & Services (continued)
Cerba Healthcare S.A.S.:
Term Loan, 7.547%, (1 mo. EURIBOR + 3.70%), 6/30/28	EUR	450	$      445,566
Term Loan, 7.847%, (1 mo. EURIBOR + 4.00%), 2/16/29	EUR	525	522,603
CHG Healthcare Services, Inc.:
Term Loan, 8.713%, (SOFR + 3.25%), 9/29/28		1,675	1,672,687
Term Loan, 9.145%, (SOFR + 3.75%), 9/29/28		400	400,200
CNT Holdings I Corp., Term Loan, 8.926%, (SOFR + 3.50%), 11/8/27		1,564	1,568,115
Covis Finco S.a.r.l., Term Loan, 12.04%, (SOFR + 6.50%), 2/18/27		617	438,420
Electron BidCo, Inc., Term Loan, 8.463%, (SOFR + 3.00%), 11/1/28		690	689,931
Ensemble RCM, LLC, Term Loan, 9.233%, (SOFR + 3.75%), 8/3/26		373	373,795
IVC Acquisition, Ltd.:
Term Loan, 7.571%, (6 mo. EURIBOR + 3.50%), 2/13/26	EUR	1,350	1,473,150
Term Loan, 11/17/28 (9)		1,025	1,018,594
LSCS Holdings, Inc., Term Loan, 9.963%, (SOFR + 4.61%), 12/16/28		639	631,707
Medical Solutions Holdings, Inc., Term Loan, 8.698%, (SOFR + 3.25%), 11/1/28		2,497	2,283,121
National Mentor Holdings, Inc.:
Term Loan, 9.207%, (SOFR + 3.75%), 3/2/28 (10)		1,745	1,594,918
Term Loan, 9.24%, (SOFR + 3.75%), 3/2/28		52	47,203
Option Care Health, Inc., Term Loan, 8.213%, (SOFR + 2.75%), 10/27/28		368	369,957
Pacific Dental Services, LLC, Term Loan, 8.957%, (SOFR + 3.50%), 5/5/28		786	786,972
Phoenix Guarantor, Inc.:
Term Loan, 8.713%, (SOFR + 3.25%), 3/5/26		2,931	2,928,954
Term Loan, 8.963%, (SOFR + 3.50%), 3/5/26		1,515	1,513,736
Sound Inpatient Physicians, Term Loan, 8.645%, (SOFR + 3.00%), 6/27/25		474	162,852
Surgery Center Holdings, Inc., Term Loan, 9.205%, (SOFR + 3.75%), 8/31/26		2,248	2,251,351
Synlab Bondco PLC, Term Loan, 6.392%, (6 mo. EURIBOR + 2.50%), 7/1/27	EUR	325	349,871
TTF Holdings, LLC, Term Loan, 3/31/28 (9)		2,000	2,004,166
			$  31,147,441
Health Care Technology — 3.3%
Athenahealth Group, Inc., Term Loan, 8.598%, (SOFR + 3.25%), 2/15/29		1,776	$    1,747,703
Certara, L.P., Term Loan, 9.15%, (SOFR + 3.50%), 8/15/26		940	942,201

Borrower/Description	Principal Amount * (000's omitted)		Value
Health Care Technology (continued)
Imprivata, Inc.:
Term Loan, 9.213%, (SOFR + 3.75%), 12/1/27		980	$      982,044
Term Loan, 9.57%, (SOFR + 4.25%), 12/1/27		198	198,364
MedAssets Software Intermediate Holdings, Inc.:
Term Loan, 9.463%, (SOFR + 4.00%), 12/18/28		960	765,899
Term Loan - Second Lien, 12.213%, (SOFR + 6.75%), 12/17/29		625	367,708
Navicure, Inc., Term Loan, 9.463%, (SOFR + 4.00%), 10/22/26		1,544	1,549,549
PointClickCare Technologies, Inc., Term Loan, 8.765%, (SOFR + 3.00%), 12/29/27		658	658,125
Project Ruby Ultimate Parent Corp., Term Loan, 8.713%, (SOFR + 3.25%), 3/10/28		1,219	1,210,371
Symplr Software, Inc., Term Loan, 9.983%, (SOFR + 4.50%), 12/22/27		1,773	1,546,605
Verscend Holding Corp., Term Loan, 9.463%, (SOFR + 4.00%), 8/27/25		1,558	1,560,801
			$  11,529,370
Hotels, Restaurants & Leisure — 4.9%
Carnival Corporation, Term Loan, 8.713%, (SOFR + 3.25%), 10/18/28		3,593	$    3,580,569
ClubCorp Holdings, Inc., Term Loan, 10.649%, (SOFR + 5.00%), 9/18/26		1,381	1,326,086
Fertitta Entertainment, LLC, Term Loan, 9.348%, (SOFR + 4.00%), 1/27/29		1,990	1,976,632
Flutter Entertainment PLC, Term Loan, 11/25/30 (9)		3,025	3,023,739
Great Canadian Gaming Corporation, Term Loan, 9.658%, (SOFR + 4.00%), 11/1/26		1,506	1,509,859
Ontario Gaming GTA L.P., Term Loan, 9.64%, (SOFR + 4.25%), 8/1/30		400	401,312
Oravel Stays Singapore Pte., Ltd., Term Loan, 13.908%, (SOFR + 8.25%), 6/23/26		412	382,590
Playa Resorts Holding B.V., Term Loan, 9.58%, (SOFR + 4.25%), 1/5/29		2,035	2,039,347
Scientific Games Holdings, L.P., Term Loan, 8.914%, (SOFR + 3.50%), 4/4/29		1,985	1,978,295
SeaWorld Parks & Entertainment, Inc., Term Loan, 8.463%, (SOFR + 3.00%), 8/25/28		760	759,636
			$  16,978,065
Household Durables — 1.7%
ACProducts, Inc., Term Loan, 9.902%, (SOFR + 4.25%), 5/17/28		2,077	$    1,717,142
Libbey Glass, Inc., Term Loan, 11.941%, (SOFR + 6.50%), 11/22/27		706	672,912

Borrower/Description	Principal Amount * (000's omitted)		Value
Household Durables (continued)
Serta Simmons Bedding, LLC, Term Loan, 12.824%, (SOFR + 7.50%), 6/29/28		1,570	$    1,549,660
Solis IV B.V., Term Loan, 8.88%, (SOFR + 3.50%), 2/26/29		1,982	1,921,731
			$   5,861,445
Household Products — 0.8%
Kronos Acquisition Holdings, Inc.:
Term Loan, 9.402%, (SOFR + 3.75%), 12/22/26		1,883	$    1,867,247
Term Loan, 11.538%, (SOFR + 6.00%), 12/22/26		833	835,887
			$   2,703,134
Insurance — 3.0%
Alliant Holdings Intermediate, LLC, Term Loan, 8.831%, (SOFR + 3.50%), 11/5/27		1,097	$    1,099,674
AmWINS Group, Inc., Term Loan, 8.213%, (SOFR + 2.75%), 2/19/28		645	647,191
AssuredPartners, Inc.:
Term Loan, 8.963%, (SOFR + 3.50%), 2/12/27		1,368	1,368,509
Term Loan, 8.963%, (SOFR + 3.50%), 2/12/27		1,369	1,369,071
Financiere CEP S.A.S., Term Loan, 7.972%, (3 mo. EURIBOR + 3.75%), 6/18/27	EUR	550	592,688
NFP Corp., Term Loan, 8.713%, (SOFR + 3.25%), 2/16/27		2,150	2,144,834
Ryan Specialty Group, LLC, Term Loan, 8.448%, (SOFR + 3.00%), 9/1/27		2,932	2,939,625
			$  10,161,592
Interactive Media & Services — 1.8%
Adevinta ASA:
Term Loan, 6.472%, (3 mo. EURIBOR + 2.50%), 6/26/28	EUR	854	$      931,189
Term Loan, 8.322%, (SOFR + 2.75%), 6/26/28		182	182,566
Arches Buyer, Inc., Term Loan, 8.698%, (SOFR + 3.25%), 12/6/27		1,980	1,950,724
Buzz Finco, LLC:
Term Loan, 8.198%, (SOFR + 2.75%), 1/29/27		579	580,628
Term Loan, 8.698%, (SOFR + 3.25%), 1/29/27		67	67,183
Foundational Education Group, Inc., Term Loan, 9.895%, (SOFR + 4.25%), 8/31/28		1,449	1,398,466
Getty Images, Inc., Term Loan, 9.99%, (SOFR + 4.50%), 2/19/26		1,092	1,094,354
			$   6,205,110

Borrower/Description	Principal Amount * (000's omitted)		Value
IT Services — 6.2%
Asurion, LLC:
Term Loan, 9.448%, (SOFR + 4.00%), 8/19/28		1,223	$    1,199,022
Term Loan - Second Lien, 10.713%, (SOFR + 5.25%), 1/31/28		2,070	1,865,587
Term Loan - Second Lien, 10.713%, (SOFR + 5.25%), 1/20/29		1,425	1,263,351
Endure Digital, Inc., Term Loan, 9.422%, (SOFR + 3.50%), 2/10/28		4,017	3,887,730
Gainwell Acquisition Corp., Term Loan, 9.49%, (SOFR + 4.00%), 10/1/27		4,218	4,078,107
Go Daddy Operating Company, LLC, Term Loan, 7.848%, (SOFR + 2.50%), 11/9/29		1,990	1,995,805
NAB Holdings, LLC, Term Loan, 8.54%, (SOFR + 3.00%), 11/23/28		3,200	3,204,708
Rackspace Technology Global, Inc., Term Loan, 8.187%, (SOFR + 2.75%), 2/15/28		3,040	1,258,943
Sedgwick Claims Management Services, Inc., Term Loan, 9.098%, (SOFR + 3.75%), 2/24/28		1,225	1,226,981
Skopima Merger Sub, Inc., Term Loan, 9.463%, (SOFR + 4.00%), 5/12/28		1,544	1,526,376
			$  21,506,610
Leisure Products — 0.8%
Amer Sports Oyj, Term Loan, 7.948%, (3 mo. EURIBOR + 4.00%), 3/30/26	EUR	1,813	$    1,972,907
Fender Musical Instruments Corporation, Term Loan, 9.441%, (SOFR + 4.00%), 12/1/28		270	264,447
Recess Holdings, Inc., Term Loan, 9.388%, (SOFR + 4.00%), 3/29/27		600	603,000
			$   2,840,354
Life Sciences Tools & Services — 2.0%
Cambrex Corporation, Term Loan, 8.948%, (SOFR + 3.50%), 12/4/26		313	$      299,996
Curia Global, Inc., Term Loan, 9.233%, (SOFR + 3.75%), 8/30/26 (10)		1,947	1,632,992
IQVIA, Inc., Term Loan, 1/2/31 (9)		1,300	1,304,063
LGC Group Holdings, Ltd., Term Loan, 7.097%, (1 mo. EURIBOR + 3.25%), 4/21/27	EUR	500	535,293
Loire Finco Luxembourg S.a.r.l., Term Loan, 8.948%, (SOFR + 3.50%), 4/21/27		363	355,431
Packaging Coordinators Midco, Inc., Term Loan, 9.152%, (SOFR + 3.50%), 11/30/27		1,464	1,460,458
Star Parent, Inc., Term Loan, 9.386%, (SOFR + 4.00%), 9/27/30		1,425	1,396,426
			$   6,984,659

Borrower/Description	Principal Amount * (000's omitted)		Value
Machinery — 8.3%
AI Aqua Merger Sub, Inc., Term Loan, 9.071%, (SOFR + 3.75%), 7/31/28		2,173	$    2,138,103
American Trailer World Corp., Term Loan, 9.198%, (SOFR + 3.75%), 3/3/28		1,295	1,229,798
Apex Tool Group, LLC, Term Loan, 10.685%, (SOFR + 5.25%), 2/8/29		2,243	1,970,873
Barnes Group, Inc., Term Loan, 8.448%, (SOFR + 3.00%), 9/3/30		525	525,000
Clark Equipment Company, Term Loan, 7.99%, (SOFR + 2.50%), 4/20/29		874	875,655
Conair Holdings, LLC, Term Loan, 9.213%, (SOFR + 3.75%), 5/17/28		2,156	2,070,433
EMRLD Borrower, L.P., Term Loan, 8.348%, (SOFR + 3.00%), 5/31/30		1,100	1,101,965
Engineered Machinery Holdings, Inc., Term Loan, 9.152%, (SOFR + 3.50%), 5/19/28		3,238	3,147,119
Filtration Group Corporation, Term Loan, 8.963%, (SOFR + 3.50%), 10/21/28		637	637,000
Gates Global, LLC, Term Loan, 7.948%, (SOFR + 2.50%), 3/31/27		2,590	2,592,233
Icebox Holdco III, Inc., Term Loan, 9.152%, (SOFR + 3.50%), 12/22/28		715	703,279
Madison IAQ, LLC, Term Loan, 8.699%, (SOFR + 3.25%), 6/21/28		2,444	2,411,676
Pro Mach Group, Inc., Term Loan, 9.463%, (SOFR + 4.00%), 8/31/28		1,492	1,496,138
Roper Industrial Products Investment Company, LLC, Term Loan, 9.89%, (SOFR + 4.50%), 11/22/29		1,318	1,320,964
SPX Flow, Inc., Term Loan, 9.948%, (SOFR + 4.50%), 4/5/29		1,939	1,937,162
Titan Acquisition Limited, Term Loan, 8.731%, (3 mo. USD LIBOR + 3.00%), 3/28/25		1,959	1,944,759
TK Elevator Topco GmbH, Term Loan, 7.597%, (6 mo. EURIBOR + 3.63%), 7/30/27	EUR	525	568,820
Vertical US Newco, Inc., Term Loan, 9.381%, (SOFR + 3.50%), 7/30/27		1,310	1,311,281
Zephyr German BidCo GmbH, Term Loan, 7.833%, (3 mo. EURIBOR + 3.85%), 3/10/28	EUR	650	667,904
			$  28,650,162
Media — 2.0%
Gray Television, Inc.:
Term Loan, 7.935%, (SOFR + 2.50%), 1/2/26		637	$      636,948
Term Loan, 8.435%, (SOFR + 3.00%), 12/1/28		835	814,479
Hubbard Radio, LLC, Term Loan, 9.713%, (1 mo. USD LIBOR + 4.25%), 3/28/25		594	520,896
MJH Healthcare Holdings, LLC, Term Loan, 8.948%, (SOFR + 3.50%), 1/28/29		246	245,173

Borrower/Description	Principal Amount * (000's omitted)		Value
Media (continued)
Recorded Books, Inc., Term Loan, 9.598%, (SOFR + 4.25%), 8/29/25		1,448	$    1,447,936
Sinclair Television Group, Inc.:
Term Loan, 7.963%, (SOFR + 2.50%), 9/30/26		648	566,829
Term Loan, 8.463%, (SOFR + 3.00%), 4/1/28		442	343,553
Univision Communications, Inc., Term Loan, 8.713%, (SOFR + 3.25%), 3/15/26		2,151	2,151,397
			$   6,727,211
Metals/Mining — 0.7%
Arsenal AIC Parent, LLC, Term Loan, 9.848%, (SOFR + 4.50%), 8/18/30		775	$      776,647
Dynacast International, LLC, Term Loan, 14.488%, (SOFR + 9.00%), 10/22/25		362	273,458
PMHC II, Inc., Term Loan, 9.807%, (SOFR + 4.25%), 4/23/29		1,191	1,068,537
WireCo WorldGroup, Inc., Term Loan, 9.696%, (SOFR + 4.25%), 11/13/28		393	394,725
			$   2,513,367
Oil, Gas & Consumable Fuels — 2.5%
ITT Holdings, LLC, Term Loan, 8.698%, (SOFR + 3.25%), 10/5/30		850	$      850,708
Matador Bidco S.a.r.l., Term Loan, 9.948%, (SOFR + 4.50%), 10/15/26		3,586	3,601,323
Oryx Midstream Services Permian Basin, LLC, Term Loan, 8.694%, (SOFR + 3.25%), 10/5/28		929	929,995
Oxbow Carbon, LLC, Term Loan, 9.469%, (SOFR + 4.00%), 5/10/30 (10)		549	548,396
QuarterNorth Energy Holding, Inc., Term Loan - Second Lien, 13.463%, (SOFR + 8.00%), 8/27/26		360	359,488
UGI Energy Services, LLC, Term Loan, 8.698%, (SOFR + 3.25%), 2/22/30		2,376	2,383,485
			$   8,673,395
Personal Products — 0.6%
Olaplex, Inc., Term Loan, 8.948%, (SOFR + 3.50%), 2/23/29		992	$      915,529
Sunshine Luxembourg VII S.a.r.l., Term Loan, 8.99%, (SOFR + 3.50%), 10/1/26		1,219	1,224,082
			$   2,139,611
Pharmaceuticals — 2.0%
Bausch Health Companies, Inc., Term Loan, 10.691%, (SOFR + 5.25%), 2/1/27		1,608	$    1,227,332
Ceva Sante Animale, Term Loan, 9.616%, (SOFR + 4.25%), 11/1/30		400	400,000

Borrower/Description	Principal Amount * (000's omitted)		Value
Pharmaceuticals (continued)
Jazz Financing Lux S.a.r.l., Term Loan, 8.963%, (SOFR + 3.50%), 5/5/28		2,202	$    2,208,543
Mallinckrodt International Finance S.A.:
Term Loan, 12.866%, (SOFR + 7.50%), 11/14/28		421	454,575
Term Loan - Second Lien, 14.822%, (SOFR + 9.50%), 11/14/28		2,388	2,570,195
PharmaZell GmbH, Term Loan, 7.972%, (3 mo. EURIBOR + 4.00%), 5/12/27	EUR	125	128,352
			$   6,988,997
Professional Services — 4.6%
AlixPartners, LLP, Term Loan, 7.222%, (3 mo. EURIBOR + 3.25%), 2/4/28	EUR	512	$      553,206
APFS Staffing Holdings, Inc., Term Loan, 9.348%, (SOFR + 4.00%), 12/29/28		246	239,093
Camelot U.S. Acquisition, LLC, Term Loan, 8.463%, (SOFR + 3.00%), 10/30/26		2,181	2,183,938
CoreLogic, Inc., Term Loan, 8.963%, (SOFR + 3.50%), 6/2/28		3,075	2,900,064
Corporation Service Company, Term Loan, 8.698%, (SOFR + 3.25%), 11/2/29		301	301,551
Deerfield Dakota Holding, LLC, Term Loan, 9.14%, (SOFR + 3.75%), 4/9/27		2,276	2,235,598
EAB Global, Inc., Term Loan, 8.963%, (SOFR + 3.50%), 8/16/28		1,496	1,490,715
Employbridge Holding Company, Term Loan, 10.407%, (SOFR + 4.75%), 7/19/28		2,014	1,652,067
Genuine Financial Holdings, LLC, Term Loan, 9.40%, (SOFR + 4.00%), 9/27/30		400	398,700
Neptune Bidco US, Inc., Term Loan, 10.507%, (SOFR + 5.00%), 4/11/29		1,866	1,677,119
Rockwood Service Corporation, Term Loan, 9.713%, (SOFR + 4.25%), 1/23/27		1,072	1,074,845
Vaco Holdings, LLC, Term Loan, 10.587%, (SOFR + 5.00%), 1/21/29		1,243	1,201,133
			$  15,908,029
Real Estate Management & Development — 0.4%
Greystar Real Estate Partners, LLC, Term Loan, 9.147%, (SOFR + 3.75%), 8/21/30		600	$      601,500
Homeserve USA Holding Corp., Term Loan, 8.331%, (SOFR + 3.00%), 10/21/30		925	925,771
			$   1,527,271
Road & Rail — 1.8%
First Student Bidco, Inc.:
Term Loan, 8.652%, (SOFR + 3.00%), 7/21/28		517	$      509,624

Borrower/Description	Principal Amount * (000's omitted)		Value
Road & Rail (continued)
First Student Bidco, Inc.:   (continued)
Term Loan, 8.655%, (SOFR + 3.00%), 7/21/28		1,375	$    1,355,814
Grab Holdings, Inc., Term Loan, 9.843%, (SOFR + 4.50%), 1/29/26		1,112	1,119,161
Hertz Corporation (The):
Term Loan, 9.14%, (SOFR + 3.75%), 6/30/28		725	717,675
Term Loan, 6/30/28 (9)		9	8,449
Kenan Advantage Group, Inc., Term Loan, 9.213%, (SOFR + 3.75%), 3/24/26		2,577	2,574,365
			$   6,285,088
Semiconductors & Semiconductor Equipment — 0.9%
Altar Bidco, Inc.:
Term Loan, 8.142%, (SOFR + 3.10%), 2/1/29 (10)		1,831	$    1,824,018
Term Loan - Second Lien, 10.493%, (SOFR + 5.60%), 2/1/30		475	460,750
Bright Bidco B.V., Term Loan, 14.378%, (SOFR + 9.00%), 6.378% cash, 8.00% PIK, 10/31/27		479	185,391
Entegris, Inc., Term Loan, 7.89%, (SOFR + 2.50%), 7/6/29		758	760,807
			$   3,230,966
Software — 22.1%
Applied Systems, Inc., Term Loan, 9.89%, (SOFR + 4.50%), 9/18/26		647	$      649,695
AppLovin Corporation, Term Loan, 8.448%, (SOFR + 3.10%), 8/16/30		1,753	1,755,300
Aptean, Inc., Term Loan, 9.698%, (SOFR + 4.25%), 4/23/26		1,028	1,028,454
AQA Acquisition Holding, Inc., Term Loan, 9.895%, (SOFR + 4.25%), 3/3/28		953	950,878
Astra Acquisition Corp.:
Term Loan, 10.902%, (SOFR + 5.25%), 10/25/28		935	624,928
Term Loan - Second Lien, 14.527%, (SOFR + 8.87%), 10/25/29		1,450	752,007
Banff Merger Sub, Inc.:
Term Loan, 7.847%, (1 mo. EURIBOR + 4.00%), 10/2/25	EUR	288	313,406
Term Loan, 9.213%, (SOFR + 3.75%), 10/2/25		3,662	3,666,469
Term Loan - Second Lien, 10.963%, (SOFR + 5.50%), 2/27/26		775	774,273
Central Parent, Inc., Term Loan, 9.406%, (SOFR + 4.00%), 7/6/29		2,084	2,087,995
CentralSquare Technologies, LLC, Term Loan, 9.29%, (SOFR + 3.75%), 8/29/25		712	678,603
Cloud Software Group, Inc., Term Loan, 9.99%, (SOFR + 4.50%), 3/30/29		2,981	2,861,982

Borrower/Description	Principal Amount * (000's omitted)		Value
Software (continued)
Cloudera, Inc.:
Term Loan, 9.198%, (SOFR + 3.75%), 10/8/28		2,358	$   2,323,613
Term Loan - Second Lien, 11.448%, (SOFR + 6.00%), 10/8/29		650	610,459
Cornerstone OnDemand, Inc., Term Loan, 9.213%, (SOFR + 3.75%), 10/16/28		1,157	1,118,314
Delta TopCo, Inc.:
Term Loan, 9.069%, (SOFR + 3.75%), 12/1/27		1,527	1,520,464
Term Loan - Second Lien, 12.569%, (SOFR + 7.25%), 12/1/28		2,250	2,252,813
E2open, LLC, Term Loan, 8.963%, (SOFR + 3.50%), 2/4/28		951	948,271
ECI Macola Max Holding, LLC, Term Loan, 9.402%, (SOFR + 3.75%), 11/9/27		1,387	1,385,230
Epicor Software Corporation:
Term Loan, 8.713%, (SOFR + 3.25%), 7/30/27		2,462	2,469,291
Term Loan, 9.098%, (SOFR + 3.75%), 7/30/27		850	856,640
Fiserv Investment Solutions, Inc., Term Loan, 9.372%, (SOFR + 4.00%), 2/18/27		1,474	1,399,940
GoTo Group, Inc., Term Loan, 10.283%, (SOFR + 4.75%), 8/31/27		1,994	1,323,767
Greeneden U.S. Holdings II, LLC, Term Loan, 9.463%, (SOFR + 4.00%), 12/1/27		2,366	2,371,926
Imperva, Inc., Term Loan, 9.631%, (SOFR + 4.00%), 1/12/26		2,340	2,340,805
iSolved, Inc., Term Loan, 9.484%, (SOFR + 4.00%), 10/14/30		500	500,729
Ivanti Software, Inc., Term Loan, 9.907%, (SOFR + 4.25%), 12/1/27		1,253	1,164,340
Magenta Buyer, LLC:
Term Loan, 10.645%, (SOFR + 5.00%), 7/27/28		1,818	1,172,434
Term Loan - Second Lien, 13.895%, (SOFR + 8.25%), 7/27/29		625	221,484
Marcel LUX IV S.a.r.l., Term Loan, 11/7/30 (9)		1,300	1,304,063
Maverick Bidco, Inc., Term Loan, 9.283%, (SOFR + 3.75%), 5/18/28		844	831,436
McAfee, LLC, Term Loan, 9.17%, (SOFR + 3.75%), 3/1/29		2,469	2,446,119
Mediaocean, LLC, Term Loan, 8.948%, (SOFR + 3.50%), 12/15/28		542	525,723
Mosel Bidco SE, Term Loan, 10.164%, (SOFR + 4.75%), 9/16/30		250	250,313
Open Text Corporation, Term Loan, 8.198%, (SOFR + 2.75%), 1/31/30		2,040	2,044,508
Proofpoint, Inc., Term Loan, 8.713%, (SOFR + 3.25%), 8/31/28		2,948	2,931,740
Quartz AcquireCo, LLC, Term Loan, 8.848%, (SOFR + 3.50%), 6/28/30		750	751,875

Borrower/Description	Principal Amount * (000's omitted)		Value
Software (continued)
Quest Software US Holdings, Inc., Term Loan, 9.783%, (SOFR + 4.25%), 2/1/29		1,766	$    1,302,689
Redstone Holdco 2, L.P., Term Loan, 10.207%, (SOFR + 4.75%), 4/27/28		1,498	1,146,164
Sabre GLBL, Inc.:
Term Loan, 8.963%, (SOFR + 3.50%), 12/17/27		1,472	1,256,145
Term Loan, 8.963%, (SOFR + 3.50%), 12/17/27		942	803,868
Term Loan, 9.698%, (SOFR + 4.25%), 6/30/28		973	835,029
Skillsoft Corporation, Term Loan, 10.694%, (SOFR + 5.25%), 7/14/28		1,492	1,391,278
SolarWinds Holdings, Inc., Term Loan, 9.098%, (SOFR + 3.75%), 2/5/27		1,667	1,667,355
Sophia, L.P., Term Loan, 8.948%, (SOFR + 3.50%), 10/7/27		4,152	4,163,149
Ultimate Software Group, Inc. (The):
Term Loan, 8.764%, (SOFR + 3.25%), 5/4/26		4,500	4,504,622
Term Loan, 9.233%, (SOFR + 3.75%), 5/4/26		1,690	1,696,721
Veritas US, Inc.:
Term Loan, 8.722%, (3 mo. EURIBOR + 4.75%), 9/1/25	EUR	362	302,018
Term Loan, 10.463%, (SOFR + 5.00%), 9/1/25		2,123	1,677,064
Vision Solutions, Inc., Term Loan, 9.64%, (SOFR + 4.00%), 4/24/28		4,196	4,110,763
			$  76,067,152
Specialty Retail — 5.2%
Boels Topholding B.V., Term Loan, 7.206%, (EURIBOR + 3.25%), 2/6/27 (10)	EUR	517	$      563,760
Great Outdoors Group, LLC, Term Loan, 9.402%, (SOFR + 3.75%), 3/6/28		2,869	2,851,582
Harbor Freight Tools USA, Inc., Term Loan, 8.093%, (SOFR + 2.75%), 10/19/27		3,184	3,165,731
Hoya Midco, LLC, Term Loan, 8.633%, (SOFR + 3.25%), 2/3/29		973	972,562
Les Schwab Tire Centers, Term Loan, 8.694%, (SOFR + 3.25%), 11/2/27		4,606	4,609,914
LIDS Holdings, Inc., Term Loan, 11.06%, (SOFR + 5.50%), 12/14/26		352	341,016
Mattress Firm, Inc., Term Loan, 9.95%, (6 mo. USD LIBOR + 4.25%), 9/25/28		2,207	2,195,562
PetSmart, Inc., Term Loan, 9.198%, (SOFR + 3.75%), 2/11/28		3,201	3,179,303
			$  17,879,430
Trading Companies & Distributors — 4.1%
DXP Enterprises, Inc., Term Loan, 10.291%, (SOFR + 4.75%), 10/11/30		700	$      700,875

Borrower/Description	Principal Amount * (000's omitted)		Value
Trading Companies & Distributors (continued)
Electro Rent Corporation, Term Loan, 11.002%, (SOFR + 5.50%), 11/1/24		1,691	$    1,624,184
Patagonia Bidco Limited, Term Loan, 10.437%, (SONIA + 5.25%), 11/1/28	GBP	1,350	1,418,835
Spin Holdco, Inc., Term Loan, 9.664%, (SOFR + 4.00%), 3/4/28		4,558	3,959,871
SRS Distribution, Inc.:
Term Loan, 8.948%, (SOFR + 3.50%), 6/2/28		344	340,092
Term Loan, 8.963%, (SOFR + 3.50%), 6/2/28		2,635	2,606,965
White Cap Buyer, LLC, Term Loan, 9.098%, (SOFR + 3.75%), 10/19/27		2,304	2,306,102
Windsor Holdings III, LLC, Term Loan, 9.82%, (SOFR + 4.50%), 8/1/30		1,050	1,054,302
			$  14,011,226
Transportation Infrastructure — 0.1%
Brown Group Holding, LLC, Term Loan, 9.127%, (SOFR + 3.75%), 7/2/29 (10)		223	$      223,202
			$     223,202
Wireless Telecommunication Services — 0.6%
CCI Buyer, Inc., Term Loan, 9.39%, (SOFR + 4.00%), 12/17/27		368	$      366,508
Digicel International Finance Limited, Term Loan, 8.981%, (6 mo. USD LIBOR + 3.25%), 5/28/24		1,716	1,599,727
			$   1,966,235
Total Senior Floating-Rate Loans (identified cost $492,502,986)			$ 477,137,826

    

Short-Term Investments — 1.6%

Security	Shares		Value
Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 5.26% (12)		5,354,115	$    5,354,115
Total Short-Term Investments (identified cost $5,354,115)			$   5,354,115
Total Investments — 159.4% (identified cost $572,804,229)			$ 549,570,075
Less Unfunded Loan Commitments — (0.0)% (6)			$       (5,305)
Net Investments — 159.4% (identified cost $572,798,924)			$ 549,564,770
Notes Payable — (34.8)%			$ (120,000,000)
Variable Rate Term Preferred Shares, at Liquidation Value (net of unamortized deferred debt issuance costs) — (23.2)%			$  (79,994,423)
Other Assets, Less Liabilities — (1.4)%			$   (4,773,305)
Net Assets Applicable to Common Shares — 100.0%			$ 344,797,042

The percentage shown for each investment category in the Portfolio of Investments is based on net assets applicable to common shares.
*	In U.S. dollars unless otherwise indicated.
(1)	Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At November 30, 2023, the aggregate value of these securities is $52,317,767 or 15.2% of the Trust's net assets applicable to common shares.
(2)	Variable rate security. The stated interest rate represents the rate in effect at November 30, 2023.
(3)	For fair value measurement disclosure purposes, security is categorized as Level 3 (see Note 10).

(4)	Non-income producing security.
(5)	Security was acquired in connection with a restructuring of a Senior Loan and may be subject to restrictions on resale.
(6)	Amount is less than 0.05% or (0.05)%, as applicable.
(7)	Issuer is in default with respect to interest and/or principal payments or has declared bankruptcy. For a variable rate security, interest rate has been adjusted to reflect non-accrual status.
(8)	Senior floating-rate loans (Senior Loans) often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, Senior Loans will typically have an expected average life of approximately two to four years. Senior Loans typically have rates of interest which are redetermined periodically by reference to a base lending rate, plus a spread. These base lending rates are primarily the Secured Overnight Financing Rate (“SOFR”) (or the London Interbank Offered Rate (“LIBOR”) for those loans whose rates reset prior to the discontinuance of LIBOR on June 30, 2023) and secondarily, the prime rate offered by one or more major United States banks (the “Prime Rate”). Base lending rates may be subject to a floor, or minimum rate. Rates for SOFR are generally 1 or 3-month tenors and may also be subject to a credit spread adjustment. Senior Loans are generally subject to contractual restrictions that must be satisfied before they can be bought or sold.
(9)	This Senior Loan will settle after November 30, 2023, at which time the interest rate will be determined.
(10)	The stated interest rate represents the weighted average interest rate at November 30, 2023 of contracts within the senior loan facility. Interest rates on contracts are primarily redetermined either monthly or quarterly by reference to the indicated base lending rate and spread and the reset period.
(11)	Unfunded or partially unfunded loan commitments. The stated interest rate reflects the weighted average of the reference rate and spread for the funded portion, if any, and the commitment fees on the portion of the loan that is unfunded. At November 30, 2023, the total value of unfunded loan commitments is $4,111. See Note 1F for description.
(12)	May be deemed to be an affiliated investment company. The rate shown is the annualized seven-day yield as of November 30, 2023.

Forward Foreign Currency Exchange Contracts (OTC)
Currency Purchased		Currency Sold		Counterparty	Settlement Date	Unrealized Appreciation	Unrealized (Depreciation)
USD	9,540,902	EUR	9,015,019	Standard Chartered Bank	12/4/23	$     —	$ (271,951)
EUR	2,000,000	USD	2,123,676	Standard Chartered Bank	12/29/23	55,845	—
USD	190,798	EUR	180,771	Australia and New Zealand Banking Group Limited	12/29/23	—	(6,199)
USD	1,328,709	EUR	1,260,000	Australia and New Zealand Banking Group Limited	12/29/23	—	(44,389)
USD	1,329,282	EUR	1,260,000	Goldman Sachs International	12/29/23	—	(43,816)
USD	1,328,698	EUR	1,260,000	State Street Bank and Trust Company	12/29/23	—	(44,400)
USD	1,408,712	EUR	1,336,202	State Street Bank and Trust Company	12/29/23	—	(47,428)
USD	1,408,618	EUR	1,336,202	State Street Bank and Trust Company	12/29/23	—	(47,522)

18

See Notes to Financial Statements.

19

See Notes to Financial Statements.

See Notes to Financial Statements.

21

See Notes to Financial Statements.

22

See Notes to Financial Statements.

23

See Notes to Financial Statements.

See Notes to Financial Statements.

25

See Notes to Financial Statements.

—

The following methodologies are used to determine the market value or fair value of investments.

Interests in senior floating-rate loans (Senior Loans) are valued generally at the average mean of bid and ask quotations obtained from a third party pricing service. Senior Loans, for which a valuation is not available or deemed unreliable, are fair valued by the investment adviser utilizing one or more of the valuation techniques described below to assess the likelihood that the borrower will make a full repayment of the loan underlying such Senior Loan. If the investment adviser believes that there is a reasonable likelihood of full repayment, the investment adviser will determine fair value using a matrix pricing approach that considers the yield on the Senior Loan relative to yields on other Senior Loans issued by companies of comparable credit quality. If the investment adviser believes there is not a reasonable likelihood of full repayment, the investment adviser will determine fair value using analyses that include, but are not limited to: (i) a comparison of the value of the borrower’s outstanding equity and debt to that of comparable public companies; (ii) a discounted cash flow analysis; or (iii) when the investment adviser believes it is likely that a borrower will be liquidated or sold, an analysis of the terms of such liquidation or sale. In certain cases, the investment adviser will use a combination of analytical methods to determine fair value, such as when only a portion of a borrower’s assets are likely to be sold. In conducting its assessment and analyses for purposes of determining fair value of a Senior Loan, the investment adviser will use its discretion and judgment in considering and appraising relevant factors. Junior Loans (i.e., subordinated loans and second lien loans) are valued in the same manner as Senior Loans.

Debt obligations are generally valued on the basis of valuations provided by third party pricing services, as derived from such services’ pricing models. Inputs to the models may include, but are not limited to, reported trades, executable bid and ask prices, broker/dealer quotations, prices or yields of securities with similar characteristics, interest rates, anticipated prepayments, benchmark curves or information pertaining to the issuer, as well as industry and economic events. The pricing services may use a matrix approach, which considers information regarding securities with similar characteristics to determine the valuation for a security. Short-term debt obligations purchased with a remaining maturity of sixty days or less for which a valuation from a third party pricing service is not readily available may be valued at amortized cost, which approximates fair value.

Equity securities listed on a U.S. securities exchange generally are valued at the last sale or closing price on the day of valuation or, if no sales took place on such date, at the mean between the closing bid and ask prices on the exchange where such securities are principally traded. Equity securities listed on the NASDAQ National Market System are valued at the NASDAQ official closing price. Unlisted or listed securities for which closing sales prices or closing quotations are not available are valued at the mean between the latest available bid and ask prices or, in the case of preferred equity securities that are not listed or traded in the over-the-counter market, by a third party pricing service that uses various techniques that consider factors including, but not limited to, prices or yields of securities with similar characteristics, benchmark yields, broker/dealer quotes, quotes of underlying common stock, issuer spreads, as well as industry and economic events.

Forward foreign currency exchange contracts are generally valued at the mean of the average bid and average ask prices that are reported by currency dealers to a third party pricing service at the valuation time. Such third party pricing service valuations are supplied for specific settlement periods and the Trust’s forward foreign currency exchange contracts are valued at an interpolated rate between the closest preceding and subsequent settlement period reported by the third party pricing service.

Foreign securities and currencies are valued in U.S. dollars, based on foreign currency exchange rate quotations supplied by a third party pricing service. The pricing service uses a proprietary model to determine the exchange rate. Inputs to the model include reported trades and implied bid/ask spreads.

Investments in management investment companies (including money market funds) that do not trade on an exchange are valued at the net asset value as of the close of each business day.

In connection with Rule 2a-5 of the 1940 Act, the Trustees have designated the Trust’s investment adviser as its valuation designee. Investments for which valuations or market quotations are not readily available or are deemed unreliable are valued by the investment adviser, as valuation designee, at fair value using methods that most fairly reflect the security’s “fair value”, which is the amount that the Trust might reasonably expect to receive for the security upon its current sale in the ordinary course. Each such determination is based on a consideration of relevant factors, which are likely to vary from one pricing context to another. These factors may include, but are not limited to, the type of security, the existence of any contractual restrictions on the security’s disposition, the price and extent of public trading in similar securities of the issuer or of comparable companies or entities, quotations or relevant information obtained from broker/dealers or other market participants, information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities), an analysis of the company’s or entity’s financial statements, and an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold.

—

Investment transactions for financial statement purposes are accounted for on a trade date basis. Realized gains and losses on investments sold are determined on the basis of identified cost.

—

Interest income is recorded on the basis of interest accrued, adjusted for amortization of premium or accretion of discount. Fees associated with loan amendments are recognized immediately. Dividend income is recorded on the ex-dividend date for dividends received in cash and/or securities. Distributions from investment companies are recorded as dividend income, capital gains or return of capital based on the nature of the distribution.

—

The Trust's policy is to comply with the provisions of the Internal Revenue Code applicable to regulated investment companies and to distribute to shareholders each year substantially all of its net investment income, and all or substantially all of its net realized capital gains. Accordingly, no provision for federal income or excise tax is necessary.

—

Investment valuations, other assets, and liabilities initially expressed in foreign currencies are translated each business day into U.S. dollars based upon current exchange rates. Purchases and sales of foreign investment securities and income and expenses denominated in foreign currencies are translated into U.S. dollars based upon currency exchange rates in effect on the respective dates of such transactions. Recognized gains or losses on investment transactions attributable to changes in foreign currency exchange rates are recorded for financial statement purposes as net realized gains and losses on investments. That portion of unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed.

—

The Trust may enter into certain loan agreements all or a portion of which may be unfunded. The Trust is obligated to fund these commitments at the borrower's discretion. These commitments, if any, are disclosed in the accompanying Portfolio of Investments. At November 30, 2023, the Trust had sufficient cash and/or securities to cover these commitments.

—

The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expense during the reporting period. Actual results could differ from those estimates.

—

Under the Trust's organizational documents, its officers and Trustees may be indemnified against certain liabilities and expenses arising out of the performance of their duties to the Trust. Under Massachusetts law, if certain conditions prevail, shareholders of a Massachusetts business trust (such as the Trust) could be deemed to have personal liability for the obligations of the Trust. However, the Trust’s Declaration of Trust contains an express disclaimer of liability on the part of Trust shareholders and the By-laws provide that the Trust shall assume, upon request by the shareholder, the defense on behalf of any Trust shareholders. Moreover, the By-laws also provide for indemnification out of Trust property of any shareholder held personally liable solely by reason of being or having been a shareholder for all loss or expense arising from such liability. Additionally, in the normal course of business, the Trust enters into agreements with service providers that may contain indemnification clauses. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust that have not yet occurred.

—

The Trust may enter into forward foreign currency exchange contracts for the purchase or sale of a specific foreign currency at a fixed price on a future date. The forward foreign currency exchange contracts are adjusted by the daily exchange rate of the underlying currency and any gains or losses are recorded as unrealized until such time as the contracts have been closed. Risks may arise upon entering these contracts from the potential inability of counterparties to meet the terms of their contracts and from movements in the value of a foreign currency relative to the U.S. dollar.

—

The interim financial statements relating to November 30, 2023 and for the six months then ended have not been audited by an independent registered public accounting firm, but in the opinion of the Trust’s management, reflect all adjustments, consisting only of normal recurring adjustments, necessary for the fair presentation of the financial statements.

1

Information about Fees, Performance and Expenses

Information about Portfolio Management and Trading

Information about each Adviser and Sub-adviser