AllianceBernstein Global High Income Fund, Inc.

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-07732

ALLIANCEBERNSTEIN GLOBAL HIGH INCOME FUND, INC.

(Exact name of registrant as specified in charter)

1345 Avenue of the Americas, New York, New York 10105

(Address of principal executive offices) (Zip code)

Joseph J. Mantineo

AllianceBernstein L.P.

1345 Avenue of the Americas

New York, New York 10105

(Name and address of agent for service)

Registrant’s telephone number, including area code: (800) 221-5672

Date of fiscal year end: March 31, 2019

Date of reporting period: December 31, 2018

 

 

 

ITEM 1.

SCHEDULE OF INVESTMENTS.

AB Global High Income Fund

Portfolio of Investments

December 31, 2018 (unaudited)

 

     Principal
Amount
(000)		        U.S. $ Value  

CORPORATES - NON-INVESTMENT GRADE - 39.7%

        

Industrial - 31.3%

        

Basic - 3.5%

        

AK Steel Corp.

        

7.00%, 3/15/27 (a)

    U.S.$ 1,164        $ 896,008  

7.625%, 10/01/21

      278          251,879  

Alcoa Nederland Holding BV

        

6.125%, 5/15/28 (b)

      289          276,933  

Ashland LLC

        

4.75%, 8/15/22

      421          413,818  

Axalta Coating Systems LLC

        

4.875%, 8/15/24 (b)

      516          487,618  

Berry Global, Inc.

        

5.50%, 5/15/22

      345          343,271  

CF Industries, Inc.

        

4.95%, 6/01/43

      595          461,138  

5.375%, 3/15/44

      545          444,175  

Cleveland-Cliffs, Inc.

        

5.75%, 3/01/25

      1,578          1,418,234  

Constellium NV

        

5.75%, 5/15/24 (b)

      400          369,455  

5.875%, 2/15/26 (b)

      1,310          1,167,437  

Crown Americas LLC/Crown Americas Capital Corp. VI

        

4.75%, 2/01/26 (b)

      751          710,719  

Eldorado Gold Corp.

        

6.125%, 12/15/20 (b)

      1,056          963,936  

ERP Iron Ore, LLC

        

9.039%, 12/31/19 (c)(d)(e)(f)(g)(h)

      336          336,499  

FMG Resources (August 2006) Pty Ltd.

        

5.125%, 3/15/23 (b)

      69          65,224  

Freeport-McMoRan, Inc.

        

5.45%, 3/15/43

      3,414          2,598,907  

Grinding Media, Inc./Moly-Cop AltaSteel Ltd.

        

7.375%, 12/15/23 (b)

      1,075          1,039,411  

Hexion, Inc.

        

6.625%, 4/15/20

      119          95,014  

Joseph T Ryerson & Son, Inc.

        

11.00%, 5/15/22 (b)

      3,215          3,238,929  

Kraton Polymers LLC/Kraton Polymers Capital Corp.

        

5.25%, 5/15/26 (b)

    EUR 846          872,594  

Lecta SA

        

6.50%, 8/01/23 (b)

      227          240,150  

Magnetation LLC/Mag Finance Corp.

        

11.00%, 5/15/18 (e)(g)(i)(j)

    U.S.$ 2,857          29  

Momentive Performance Materials, Inc.

        

3.88%, 10/24/21

              2,604          2,768,635  

8.875%, 10/15/20 (d)(e)(g)(k)

      2,604          0  

Multi-Color Corp.

        

4.875%, 11/01/25 (b)

      980          842,493  

New Gold, Inc.

        

6.25%, 11/15/22 (b)

      286          238,847  

     Principal
Amount
(000)		        U.S. $ Value  

Novelis Corp.

        

5.875%, 9/30/26 (b)

    U.S.$ 1,523        $ 1,341,189  

Nufarm Australia Ltd./Nufarm Americas, Inc.

        

5.75%, 4/30/26 (b)

      489          443,793  

Nyrstar Netherlands Holdings BV

        

8.50%, 9/15/19 (b)

    EUR 601          296,174  

OCI NV

        

5.00%, 4/15/23 (b)

      1,300          1,519,160  

6.625%, 4/15/23 (b)

    U.S.$ 840          830,293  

Pactiv LLC

        

7.95%, 12/15/25

      665          658,338  

Peabody Energy Corp.

        

6.00%, 3/31/22 (b)

      245          239,816  

6.375%, 3/31/25 (b)

      350          326,873  

Plastipak Holdings, Inc.

        

6.25%, 10/15/25 (b)

      1,336          1,194,928  

Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC/Reynolds Group Issuer Lu

        

5.125%, 7/15/23 (b)

      717          682,208  

Sealed Air Corp.

        

6.875%, 7/15/33 (b)

      1,295          1,306,908  

Smurfit Kappa Treasury Funding DAC

        

7.50%, 11/20/25

      238          271,683  

SPCM SA

        

4.875%, 9/15/25 (b)

      975          866,573  

Starfruit Finco BV/Starfruit US Holdco LLC

        

6.50%, 10/01/26

    EUR 1,010          1,066,587  

8.00%, 10/01/26 (a)(b)

    U.S.$ 515          480,237  

Teck Resources Ltd.

        

5.20%, 3/01/42

      2,374          2,004,864  

5.40%, 2/01/43

              1,454          1,263,946  

6.00%, 8/15/40

      470          433,645  

6.25%, 7/15/41

      238          225,561  

United States Steel Corp.

        

6.25%, 3/15/26

      245          216,523  

6.875%, 8/15/25

      844          780,321  

Valvoline, Inc.

        

5.50%, 7/15/24

      278          271,773  

W.R. Grace & Co.-Conn

        

5.625%, 10/01/24 (b)

      386          386,919  
       

 

 

  
          37,649,665  
       

 

 

  

Capital Goods - 1.6%

        

A123 Systems, Inc.

        

3.75%, 4/15/16 (c)(e)(g)(l)

      955          66,850  

Arconic, Inc.

        

5.90%, 2/01/27

      119          114,047  

ARD Finance SA

        

6.625% (6.625% Cash or 7.375% PIK), 9/15/23 (h)

    EUR 1,126          1,229,966  

7.125% (7.125% Cash or 7.875% PIK), 9/15/23 (h)

    U.S.$ 200          181,167  

     Principal
Amount
(000)		        U.S. $ Value  

Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.

        

6.00%, 2/15/25 (b)

    U.S.$ 200        $ 183,989  

6.75%, 5/15/24 (b)

    EUR 2,004          2,401,967  

BBA US Holdings, Inc.

        

5.375%, 5/01/26 (b)

    U.S.$ 402          379,637  

Bombardier, Inc.

        

5.75%, 3/15/22 (b)

      932          874,065  

6.00%, 10/15/22 (b)

      233          218,475  

6.125%, 1/15/23 (b)

      695          651,257  

7.50%, 3/15/25 (b)

      1,775          1,672,938  

BWAY Holding Co.

        

4.75%, 4/15/24 (b)

    EUR 890          1,000,480  

5.50%, 4/15/24 (b)

    U.S.$ 1,009          950,018  

7.25%, 4/15/25 (b)

      720          647,921  

Cleaver-Brooks, Inc.

        

7.875%, 3/01/23 (b)

      505          493,882  

Gates Global LLC/Gates Global Co.

        

6.00%, 7/15/22 (b)

      352          343,016  

GFL Environmental, Inc.

 

     

5.375%, 3/01/23 (b)

      103          91,094  

5.625%, 5/01/22 (b)

      403          373,606  

Hulk Finance Corp.

        

7.00%, 6/01/26 (b)

      688          600,202  

JELD-WEN, Inc.

        

4.625%, 12/15/25 (b)

      128          112,641  

4.875%, 12/15/27 (b)

      182          156,522  

Liberty Tire Recycling LLC

        

9.50%, 1/15/23 (d)(g)(j)

      586          585,815  

Stevens Holding Co., Inc.

        

6.125%, 10/01/26 (b)

      141          139,069  

Textron Financial Corp.

        

4.351% (LIBOR 3 Month + 1.74%), 2/15/42 (b)(m)

      575          412,011  

TransDigm, Inc.

        

6.375%, 6/15/26

      2,292          2,135,555  

6.50%, 7/15/24

      1,529          1,487,183  
       

 

 

  
          17,503,373  
       

 

 

  

Communications - Media - 4.2%

        

Altice Financing SA

        

6.625%, 2/15/23 (b)

      2,892          2,783,550  

7.50%, 5/15/26 (b)

      1,782          1,627,827  

Altice France SA/France

        

5.625%, 5/15/24 (b)

    EUR 386          444,614  

6.25%, 5/15/24 (b)

    U.S.$ 400          371,511  

7.375%, 5/01/26 (b)

              2,923          2,681,376  

8.125%, 2/01/27 (b)

      465          438,264  

Altice Luxembourg SA

        

7.25%, 5/15/22 (a)(b)

    EUR 1,332          1,419,845  

7.75%, 5/15/22 (b)

    U.S.$ 1,770          1,615,467  

     Principal
Amount
(000)		        U.S. $ Value  

CCO Holdings LLC/CCO Holdings Capital Corp.

        

5.00%, 2/01/28 (b)

    U.S.$ 65        $ 59,794  

5.125%, 5/01/27 (b)

      106          98,668  

5.375%, 5/01/25 (b)

      74          70,971  

5.75%, 1/15/24

      112          111,036  

5.75%, 2/15/26 (b)

      346          339,200  

5.875%, 5/01/27 (b)

      445          433,030  

Clear Channel Worldwide Holdings, Inc.

        

Series A

        

6.50%, 11/15/22

      505          503,918  

Series B

        

6.50%, 11/15/22

      2,604          2,612,820  

CSC Holdings LLC

        

5.375%, 2/01/28 (b)

      1,502          1,383,372  

5.50%, 5/15/26 (b)

      200          189,531  

6.625%, 10/15/25 (b)

      274          277,425  

7.50%, 4/01/28 (b)

      1,857          1,851,139  

10.875%, 10/15/25 (b)

      765          858,583  

DISH DBS Corp.

        

5.00%, 3/15/23

      830          683,619  

5.875%, 11/15/24

      2,291          1,843,625  

6.75%, 6/01/21

      766          759,049  

Gray Television, Inc.

        

5.125%, 10/15/24 (b)

      987          910,185  

iHeartCommunications, Inc.

        

6.875%, 6/15/18 (c)(e)(g)(i)

      2,016          403,200  

9.00%, 12/15/19 (e)(f)

      927          623,357  

10.625%, 3/15/23 (e)(f)

      142          93,770  

11.25%, 3/01/21 (e)(f)

      535          364,883  

11.25%, 3/01/21 (b)(e)(f)

      254          167,869  

Liberty Interactive LLC

        

3.75%, 2/15/30 (l)

      879          580,332  

Meredith Corp.

        

6.875%, 2/01/26 (b)

      1,577          1,550,815  

Netflix, Inc.

        

4.375%, 11/15/26

      1,502          1,371,710  

4.875%, 4/15/28

      1,171          1,068,512  

Outfront Media Capital LLC/Outfront Media Capital Corp.

        

5.25%, 2/15/22

      598          595,771  

Radiate Holdco LLC/Radiate Finance, Inc.

 

     

6.625%, 2/15/25 (b)

      1,057          911,387  

6.875%, 2/15/23 (b)

      451          410,717  

Sinclair Television Group, Inc.

        

6.125%, 10/01/22

      1,437          1,447,423  

Sirius XM Radio, Inc.

        

5.00%, 8/01/27 (b)

      65          59,364  

TEGNA, Inc.

        

5.50%, 9/15/24 (b)

      162          157,143  

6.375%, 10/15/23

      668          668,997  

Unitymedia Hessen GmbH & Co. KG/Unitymedia NRW GmbH

        

5.00%, 1/15/25 (b)

      1,078          1,056,510  

     Principal
Amount
(000)		        U.S. $ Value  

6.25%, 1/15/29 (b)

    EUR 446        $ 560,006  

UPC Holding BV

        

5.50%, 1/15/28 (b)

    U.S.$ 2,223          2,012,582  

UPCB Finance IV Ltd.

        

5.375%, 1/15/25 (b)

      200          188,261  

Urban One, Inc.

        

7.375%, 4/15/22 (b)

      1,350          1,275,750  

Virgin Media Receivables Financing Notes I DAC

        

5.50%, 9/15/24 (b)

    GBP 128          156,662  

Virgin Media Secured Finance PLC

        

5.25%, 1/15/26 (b)

    U.S.$ 200          183,144  

5.50%, 1/15/25 (b)

    GBP 423          536,139  

Ziggo Bond Co. BV

        

5.875%, 1/15/25 (b)

    U.S.$ 1,034          942,541  

6.00%, 1/15/27 (b)

      815          706,444  

7.125%, 5/15/24 (b)

    EUR 968          1,160,875  

Ziggo BV

        

5.50%, 1/15/27 (b)

    U.S.$ 1,363          1,226,700  
       

 

 

  
          44,849,283  
       

 

 

  

Communications - Telecommunications - 2.6%

        

C&W Senior Financing DAC

        

6.875%, 9/15/27 (b)

      1,047          964,984  

7.50%, 10/15/26 (b)

      395          381,531  

CB T-Mobile USA, Inc.

 

     

6.00%, 3/01/23 (c)(d)(e)(g)

      743          0  

6.375%, 3/01/25 (c)(d)(e)(g)

      655          0  

CenturyLink, Inc. Series T

        

5.80%, 3/15/22

      78          74,911  

Cincinnati Bell, Inc.

        

7.00%, 7/15/24 (b)

      1,151          954,269  

DKT Finance ApS

        

7.00%, 6/17/23 (b)

    EUR 989          1,195,541  

Embarq Corp.

        

7.995%, 6/01/36

    U.S.$ 1,513          1,368,501  

Frontier Communications Corp.

        

6.875%, 1/15/25

      45          22,889  

7.125%, 1/15/23

      662          376,279  

7.625%, 4/15/24

      1,118          574,383  

7.875%, 1/15/27

      834          408,468  

Hughes Satellite Systems Corp.

        

6.625%, 8/01/26

      730          670,638  

7.625%, 6/15/21

      1,383          1,438,800  

Intelsat Jackson Holdings SA

        

5.50%, 8/01/23

              1,675          1,472,293  

8.00%, 2/15/24 (b)

      216          222,663  

9.50%, 9/30/22 (b)

      516          588,488  

9.75%, 7/15/25 (b)

      1,262          1,267,998  

Level 3 Financing, Inc.

        

5.25%, 3/15/26

      164          152,217  

5.375%, 8/15/22-1/15/24

      1,196          1,149,086  

     Principal
Amount
(000)		        U.S. $ Value  

6.125%, 1/15/21

    U.S.$ 555        $ 555,809  

Level 3 Parent LLC

       

5.75%, 12/01/22

      160          157,086  

Qwest Corp.

       

6.875%, 9/15/33

              1,335          1,198,355  

Sable International Finance Ltd.

       

6.875%, 8/01/22 (b)

      280          287,419  

Sprint Capital Corp.

        

6.875%, 11/15/28

      1,875          1,772,304  

8.75%, 3/15/32

      215          226,476  

Sprint Corp.

       

7.875%, 9/15/23

      627          643,307  

T-Mobile USA, Inc.

        

4.75%, 2/01/28

      39          35,893  

6.00%, 3/01/23

      743          747,214  

6.375%, 3/01/25

      655          661,927  

Telecom Italia Capital SA

        

7.20%, 7/18/36

      483          461,263  

7.721%, 6/04/38

      1,759          1,739,459  

Telecom Italia SpA/Milano

       

5.303%, 5/30/24 (b)

      1,002          950,140  

Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC

       

6.00%, 4/15/23 (b)

      1,113          1,012,830  

Wind Tre SpA

       

5.00%, 1/20/26 (b)

      2,265          1,855,701  

Windstream Services LLC/Windstream Finance Corp.

       

9.00%, 6/30/25 (b)

      1,372          929,238  

Zayo Group LLC/Zayo Capital, Inc.

        

5.75%, 1/15/27 (b)

      259          230,501  

6.00%, 4/01/23

      447          423,229  

6.375%, 5/15/25

      1,146          1,065,780  
       

 

 

  
              28,237,870  
       

 

 

  

Consumer Cyclical - Automotive - 1.5%

 

American Axle & Manufacturing, Inc.

       

6.25%, 4/01/25

      974          886,129  

BCD Acquisition, Inc.

       

9.625%, 9/15/23 (b)

      2,264          2,332,323  

Cooper-Standard Automotive, Inc.

       

5.625%, 11/15/26 (b)

      670          588,868  

Dana Financing Luxembourg SARL

       

5.75%, 4/15/25 (b)

      109          101,763  

Exide Technologies

        

7.00%, 4/30/25 (g)(h)(j)(l)

      4,894          2,691,645  

11.00%, 4/30/22 (g)(h)(j)

      4,450          3,559,920  

Goodyear Tire & Rubber Co. (The)

       

7.00%, 3/15/28

      400          392,181  

IHO Verwaltungs GmbH

       

4.125% (4.125% Cash or 4.875% PIK), 9/15/21 (b)(h)

      889          847,073  

Meritor, Inc.

       

6.25%, 2/15/24

      305          292,020  

     Principal
Amount
(000)		        U.S. $ Value  

Navistar International Corp.

       

6.625%, 11/01/25 (b)

    U.S.$ 1,060        $ 1,024,400  

Tenneco, Inc.

       

5.00%, 7/15/26

      2,174          1,668,832  

Tesla, Inc.

       

5.30%, 8/15/25 (b)

      599          521,077  

Titan International, Inc.

       

6.50%, 11/30/23

      1,093          975,207  
       

 

 

  
              15,881,438  
       

 

 

  

Consumer Cyclical - Entertainment - 0.4%

 

AMC Entertainment Holdings, Inc.

       

5.875%, 11/15/26

      1,540          1,319,791  

Silversea Cruise Finance Ltd.

       

7.25%, 2/01/25 (b)

      1,409          1,488,975  

VOC Escrow Ltd.

       

5.00%, 2/15/28 (b)

      1,036          960,731  
       

 

 

  
          3,769,497  
       

 

 

  

Consumer Cyclical - Other - 2.3%

 

Beazer Homes USA, Inc.

        

5.875%, 10/15/27

      712          562,485  

6.75%, 3/15/25

              1,400          1,204,000  

8.75%, 3/15/22

      32          31,910  

Caesars Entertainment Corp.

       

5.00%, 10/01/24 (g)(l)

      121          147,204  

Cirsa Finance International SARL

        

6.25%, 12/20/23 (b)

    EUR 288          335,155  

7.875%, 12/20/23 (b)

    U.S.$ 865          861,367  

Cooperativa Muratori & Cementisti-CMC di Ravenna SC

       

6.00%, 2/15/23 (b)

    EUR 176          12,052  

Five Point Operating Co. LP/Five Point Capital Corp.

       

7.875%, 11/15/25 (b)

    U.S.$ 1,969          1,898,187  

International Game Technology PLC

       

6.25%, 2/15/22 (b)

      977          979,580  

James Hardie International Finance DAC

        

4.75%, 1/15/25 (b)

      285          259,756  

5.00%, 1/15/28 (b)

      273          233,986  

K. Hovnanian Enterprises, Inc.

        

5.00%, 11/01/21

      2,257          1,806,327  

10.00%, 7/15/22 (b)

      389          341,314  

10.50%, 7/15/24 (b)

      389          322,968  

KB Home

        

7.00%, 12/15/21

      536          546,070  

7.50%, 9/15/22

      494          509,133  

Lennar Corp.

       

6.625%, 5/01/20

      1,332          1,370,097  

Marriott Ownership Resorts, Inc./ILG LLC

       

6.50%, 9/15/26 (b)

      1,225          1,181,243  

MDC Holdings, Inc.

        

5.50%, 1/15/24

      150          144,001  

6.00%, 1/15/43

      2,908          2,273,986  

     Principal
Amount
(000)		        U.S. $ Value  

MGM Resorts International

       

5.75%, 6/15/25

    U.S.$ 45        $ 43,474  

PulteGroup, Inc.

        

5.00%, 1/15/27

      48          43,680  

5.50%, 3/01/26

      52          50,180  

6.00%, 2/15/35

      500          434,411  

7.875%, 6/15/32

      1,400          1,453,484  

Shea Homes LP/Shea Homes Funding Corp.

        

5.875%, 4/01/23 (b)

      420          381,315  

6.125%, 4/01/25 (b)

      830          738,765  

Standard Industries, Inc./NJ

        

4.75%, 1/15/28 (b)

      76          63,445  

6.00%, 10/15/25 (b)

      934          888,468  

Stars Group Holdings BV/Stars Group US Co-Borrower LLC

       

7.00%, 7/15/26 (b)

      941          909,465  

Sugarhouse HSP Gaming Prop Mezz LP/Sugarhouse HSP Gaming Finance Corp.

       

5.875%, 5/15/25 (b)

      1,785          1,646,939  

Taylor Morrison Communities, Inc./Taylor Morrison Holdings II, Inc.

       

5.875%, 4/15/23 (b)

      875          844,375  

Toll Brothers Finance Corp.

       

4.875%, 3/15/27

      1,124          1,022,840  

Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.

        

5.25%, 5/15/27 (b)

      45          39,717  

5.50%, 3/01/25 (b)

      711          668,115  
       

 

 

  
              24,249,494  
       

 

 

  

Consumer Cyclical - Restaurants - 0.2%

 

Golden Nugget, Inc.

        

6.75%, 10/15/24 (b)

      857          807,573  

8.75%, 10/01/25 (b)

      708          679,597  

IRB Holding Corp.

       

6.75%, 2/15/26 (b)

      453          393,832  
       

 

 

  
          1,881,002  
       

 

 

  

Consumer Cyclical - Retailers - 0.7%

 

Dufry Finance SCA

       

4.50%, 8/01/23 (b)

    EUR 1,208          1,416,212  

FirstCash, Inc.

       

5.375%, 6/01/24 (b)

    U.S.$ 1,312          1,280,876  

JC Penney Corp., Inc.

        

6.375%, 10/15/36

      421          142,002  

7.40%, 4/01/37

      486          162,427  

L Brands, Inc.

        

5.25%, 2/01/28

              1,336          1,141,939  

7.60%, 7/15/37

      1,000          784,308  

Levi Strauss & Co.

       

5.00%, 5/01/25

      1,150          1,125,676  

PetSmart, Inc.

       

7.125%, 3/15/23 (b)

      1,140          662,452  

     Principal
Amount
(000)		        U.S. $ Value  

Sonic Automotive, Inc.

        

5.00%, 5/15/23

    U.S.$ 534        $ 481,226  

6.125%, 3/15/27

      817          706,369  
       

 

 

  
          7,903,487  
       

 

 

  

Consumer Non-Cyclical - 3.3%

 

Air Medical Group Holdings, Inc.

       

6.375%, 5/15/23 (b)

      820          692,907  

Albertsons Cos. LLC/Safeway, Inc./New Albertsons LP/Albertson’s LLC

        

5.75%, 3/15/25

      701          613,375  

6.625%, 6/15/24

      1,385          1,292,798  

Avantor, Inc.

       

9.00%, 10/01/25 (b)

      595          594,663  

Aveta, Inc.

       

10.50%, 3/01/21 (d)(e)(g)(j)

              13,116          0  

Bausch Health Cos., Inc.

        

5.50%, 3/01/23 (b)

      957          873,966  

5.625%, 12/01/21 (b)

      912          901,455  

5.875%, 5/15/23 (b)

      1,089          1,004,602  

Catalent Pharma Solutions, Inc.

        

4.75%, 12/15/24 (b)

    EUR 400          459,523  

4.875%, 1/15/26 (b)

    U.S.$ 416          391,303  

Charles River Laboratories International, Inc.

       

5.50%, 4/01/26 (b)

      242          238,982  

CHS/Community Health Systems, Inc.

        

6.25%, 3/31/23

      1,116          1,015,159  

8.125%, 6/30/24 (b)

      635          458,077  

DaVita, Inc.

       

5.00%, 5/01/25

      1,244          1,128,741  

Diamond BC BV

       

5.625%, 8/15/25 (a)(b)

    EUR 362          352,482  

Eagle Holding Co. II LLC

       

7.625% (7.625% Cash or 8.375% PIK), 5/15/22 (b)(h)

    U.S.$ 179          171,745  

Endo Dac/Endo Finance LLC/Endo Finco, Inc.

       

6.00%, 7/15/23 (b)

      790          602,375  

Endo Finance LLC

       

5.75%, 1/15/22 (b)

      1,228          1,022,379  

Endo Finance LLC/Endo Finco, Inc.

       

5.375%, 1/15/23 (b)

      200          150,653  

Envision Healthcare Corp.

       

8.75%, 10/15/26 (b)

      161          139,387  

First Quality Finance Co., Inc.

       

4.625%, 5/15/21 (b)

      3,174          3,071,537  

Hadrian Merger Sub, Inc.

       

8.50%, 5/01/26 (b)

      784          705,467  

HCA, Inc.

        

4.25%, 10/15/19

      1,405          1,402,342  

4.50%, 2/15/27

      65          61,843  

5.00%, 3/15/24

      330          327,509  

5.25%, 6/15/26

      165          163,845  

5.875%, 2/15/26

      110          110,390  

     Principal
Amount
(000)		        U.S. $ Value  

Kinetic Concepts, Inc./KCI USA, Inc.

       

7.875%, 2/15/21 (b)

    U.S.$ 436        $ 441,683  

Lamb Weston Holdings, Inc.

       

4.625%, 11/01/24 (b)

      407          396,698  

Mallinckrodt International Finance SA

       

4.75%, 4/15/23

      1,354          907,565  

Mallinckrodt International Finance SA/Mallinckrodt CB LLC

        

5.50%, 4/15/25 (b)

      239          164,911  

5.625%, 10/15/23 (b)

      337          256,047  

5.75%, 8/01/22 (b)

      1,224          1,042,679  

MEDNAX, Inc.

       

5.25%, 12/01/23 (b)

      541          531,590  

MPH Acquisition Holdings LLC

       

7.125%, 6/01/24 (b)

      1,493          1,392,237  

Post Holdings, Inc.

        

5.00%, 8/15/26 (b)

      410          373,520  

5.50%, 3/01/25 (b)

      610          586,073  

5.625%, 1/15/28 (b)

      798          734,900  

5.75%, 3/01/27 (b)

      58          54,358  

RegionalCare Hospital Partners Holdings, Inc.

       

8.25%, 5/01/23 (b)

      49          49,494  

RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc.

       

9.75%, 12/01/26 (b)

              2,775          2,642,813  

Spectrum Brands, Inc.

        

4.00%, 10/01/26 (b)

    EUR 530          567,442  

6.125%, 12/15/24

    U.S.$ 361          346,523  

6.625%, 11/15/22

      487          496,901  

Sunshine Mid BV

       

6.50%, 5/15/26 (b)

    EUR 823          868,111  

Synlab Unsecured Bondco PLC

       

8.25%, 7/01/23 (b)

      700          823,909  

Tenet Healthcare Corp.

        

6.00%, 10/01/20

    U.S.$ 25          25,207  

6.75%, 6/15/23

      1,903          1,786,477  

7.00%, 8/01/25 (a)

      119          110,538  

8.125%, 4/01/22

      682          682,872  

Vizient, Inc.

       

10.375%, 3/01/24 (b)

      774          819,945  

Voyage Care BondCo PLC

       

5.875%, 5/01/23 (b)

    GBP 891          983,153  
       

 

 

  
              35,033,151  
       

 

 

  

Energy - 6.4%

 

AI Candelaria Spain SLU

       

7.50%, 12/15/28 (b)

    U.S.$ 1,166          1,113,938  

Alta Mesa Holdings LP/Alta Mesa Finance Services Corp.

       

7.875%, 12/15/24

      1,562          990,861  

     Principal
Amount
(000)		        U.S. $ Value  

Antero Resources Corp.

        

5.125%, 12/01/22

    U.S.$ 484        $ 454,937  

Berry Petroleum Co. LLC

        

6.375%, 9/15/22 (c)(d)(e)(g)

      2,383          0  

Bristow Group, Inc.

        

8.75%, 3/01/23 (b)

      265          190,194  

Bruin E&P Partners LLC

        

8.875%, 8/01/23 (b)

      1,718          1,528,243  

California Resources Corp.

        

5.50%, 9/15/21

      299          214,769  

8.00%, 12/15/22 (b)

      3,891              2,630,954  

Carrizo Oil & Gas, Inc.

 

     

6.25%, 4/15/23

      608          561,842  

8.25%, 7/15/25

      301          296,294  

Cheniere Corpus Christi Holdings LLC

        

7.00%, 6/30/24

      683          724,020  

Cheniere Energy Partners LP

        

5.25%, 10/01/25

      730          680,068  

Chesapeake Energy Corp.

        

4.875%, 4/15/22

      1,528          1,331,093  

5.75%, 3/15/23

      610          527,293  

6.125%, 2/15/21

      301          286,520  

8.00%, 1/15/25-6/15/27

      698          603,290  

Covey Park Energy LLC/Covey Park Finance Corp.

        

7.50%, 5/15/25 (b)

      1,015          885,359  

Denbury Resources, Inc.

        

7.50%, 2/15/24 (b)

      824          663,296  

9.25%, 3/31/22 (b)

      604          558,316  

Diamond Offshore Drilling, Inc.

        

7.875%, 8/15/25

              3,240          2,689,731  

Energy Transfer LP

        

4.25%, 3/15/23

      2,145          2,068,591  

7.50%, 10/15/20

      251          262,295  

Ensco PLC

        

4.50%, 10/01/24

      290          189,240  

5.20%, 3/15/25

      1,037          691,944  

7.75%, 2/01/26

      406          292,734  

EP Energy LLC/Everest Acquisition Finance, Inc.

        

7.75%, 9/01/22

      1,634          664,620  

7.75%, 5/15/26 (b)

      631          559,599  

8.00%, 2/15/25 (b)

      1,338          552,480  

9.375%, 5/01/24 (b)

      887          391,333  

Genesis Energy LP/Genesis Energy Finance Corp.

        

5.625%, 6/15/24

      412          353,827  

6.25%, 5/15/26

      1,327          1,140,802  

6.50%, 10/01/25

      1,088          960,284  

6.75%, 8/01/22

      115          112,689  

Gulfport Energy Corp.

        

6.00%, 10/15/24

      481          425,685  

6.375%, 5/15/25 (a)

      1,054          938,060  

6.375%, 1/15/26

      1,718          1,487,230  

Hess Infrastructure Partners LP/Hess Infrastructure Partners Finance Corp.

        

5.625%, 2/15/26 (b)

      1,587          1,542,954  

     Principal
Amount
(000)		        U.S. $ Value  

HighPoint Operating Corp.

        

7.00%, 10/15/22

    U.S.$ 534        $ 486,823  

8.75%, 6/15/25

      577          552,644  

Hilcorp Energy I LP/Hilcorp Finance Co.

        

5.00%, 12/01/24 (b)

      559          496,691  

5.75%, 10/01/25 (b)

      1,576          1,404,330  

Indigo Natural Resources LLC

        

6.875%, 2/15/26 (b)

      1,095          943,044  

Laredo Petroleum, Inc.

        

6.25%, 3/15/23

      472          424,339  

Murphy Oil USA, Inc.

        

5.625%, 5/01/27

      69          66,566  

6.00%, 8/15/23

      716          720,097  

Nabors Industries, Inc.

        

4.625%, 9/15/21

      967          870,115  

5.50%, 1/15/23

              1,755              1,390,453  

5.75%, 2/01/25

      441          332,816  

Nine Energy Service, Inc.

        

8.75%, 11/01/23 (b)

      525          497,771  

Noble Holding International Ltd.

        

5.25%, 3/15/42

      191          111,227  

6.20%, 8/01/40

      276          171,341  

7.75%, 1/15/24

      1,746          1,335,741  

7.95%, 4/01/25

      375          281,624  

Parkland Fuel Corp.

        

6.00%, 4/01/26 (b)

      1,147          1,076,274  

PDC Energy, Inc.

        

5.75%, 5/15/26

      633          561,033  

6.125%, 9/15/24

      1,185          1,098,059  

Precision Drilling Corp.

        

7.125%, 1/15/26 (b)

      787          684,374  

QEP Resources, Inc.

        

5.25%, 5/01/23

      1,809          1,607,423  

Range Resources Corp.

        

4.875%, 5/15/25

      583          479,084  

5.00%, 8/15/22-3/15/23

      963          854,718  

5.875%, 7/01/22

      97          90,149  

Rowan Cos., Inc.

        

5.85%, 1/15/44

      536          321,741  

7.375%, 6/15/25

      1,285          1,034,345  

Sanchez Energy Corp.

        

6.125%, 1/15/23

      2,766          490,343  

7.25%, 2/15/23 (b)

      756          616,141  

SandRidge Energy, Inc.

        

7.50%, 2/15/23 (c)(d)(e)(g)

      865          0  

8.125%, 10/15/22 (c)(d)(e)(g)

      2,076          0  

SemGroup Corp.

        

6.375%, 3/15/25

      594          550,090  

7.25%, 3/15/26

      540          505,858  

SemGroup Corp./Rose Rock Finance Corp.

        

5.625%, 11/15/23

      438          401,959  

SM Energy Co.

        

5.00%, 1/15/24

      1,341          1,172,616  

5.625%, 6/01/25

      1,150          1,000,500  

6.625%, 1/15/27

      416          368,163  

     Principal
Amount
(000)		        U.S. $ Value  

Southern Star Central Corp.

        

5.125%, 7/15/22 (b)

    U.S.$ 1,200        $ 1,152,000  

SRC Energy, Inc.

        

6.25%, 12/01/25

      800          669,828  

Sunoco LP/Sunoco Finance Corp.

        

5.50%, 2/15/26

      1,355              1,278,585  

5.875%, 3/15/28

      1,026          961,243  

Targa Resources Partners LP/Targa Resources Partners Finance Corp.

        

5.125%, 2/01/25

      157          147,292  

5.875%, 4/15/26 (b)

      1,050          1,022,373  

Transocean Phoenix 2 Ltd.

        

7.75%, 10/15/24 (b)

      973          969,417  

Transocean, Inc.

        

6.80%, 3/15/38

      1,456          981,178  

7.50%, 1/15/26 (b)

      762          669,781  

9.00%, 7/15/23 (b)

      683          679,420  

Vantage Drilling International

        

7.125%, 4/01/23 (c)(d)(e)(g)

      1,283          0  

7.50%, 11/01/19 (c)(d)(e)(g)

      2,176          0  

Vine Oil & Gas LP/Vine Oil & Gas Finance Corp.

        

8.75%, 4/15/23 (b)

              2,640          2,063,820  

Weatherford International LLC

        

9.875%, 3/01/25 (b)

      294          177,482  

Weatherford International Ltd.

        

5.875%, 7/01/21 (l)

      154          97,081  

6.50%, 8/01/36

      752          391,040  

6.75%, 9/15/40

      849          434,039  

7.00%, 3/15/38

      409          213,734  

7.75%, 6/15/21 (a)

      962          723,178  

9.875%, 2/15/24

      467          285,658  

Whiting Petroleum Corp.

        

1.25%, 4/01/20 (l)

      542          512,415  

5.75%, 3/15/21

      177          168,393  

6.25%, 4/01/23

      483          440,160  

6.625%, 1/15/26

      737          630,281  

WPX Energy, Inc.

        

5.75%, 6/01/26

      528          481,195  

8.25%, 8/01/23

      187          196,489  
       

 

 

  
          67,909,959  
       

 

 

  

Other Industrial - 0.7%

        

Algeco Global Finance PLC

        

8.00%, 2/15/23 (b)

      1,821          1,700,235  

American Tire Distributors, Inc.

        

10.25%, 3/01/22 (b)(e)(f)(g)

      2,231          341,713  

Global Partners LP/GLP Finance Corp.

        

6.25%, 7/15/22

      2,976          2,820,180  

H&E Equipment Services, Inc.

        

5.625%, 9/01/25

      437          400,432  

KAR Auction Services, Inc.

        

5.125%, 6/01/25 (b)

      458          413,345  

     Principal
Amount
(000)		        U.S. $ Value  

Laureate Education, Inc.

        

8.25%, 5/01/25 (b)

    U.S.$ 1,773        $ 1,821,651  
       

 

 

  
          7,497,556  
       

 

 

  

Services - 1.6%

        

ADT Security Corp. (The)

        

4.125%, 6/15/23

      83          75,945  

Aptim Corp.

        

7.75%, 6/15/25 (b)

      927          702,986  

APX Group, Inc.

        

7.875%, 12/01/22

              3,299               3,115,915  

8.75%, 12/01/20

      657          625,600  

Aramark Services, Inc.

        

5.00%, 2/01/28 (b)

      654          611,638  

5.125%, 1/15/24

      242          239,941  

Carlson Travel, Inc.

        

6.75%, 12/15/23 (b)

      782          751,066  

Carriage Services, Inc.

        

6.625%, 6/01/26 (b)

      698          686,665  

eDreams ODIGEO SA

        

5.50%, 9/01/23 (b)

    EUR 478          512,938  

Gartner, Inc.

        

5.125%, 4/01/25 (b)

    U.S.$ 482          468,769  

GEO Group, Inc. (The)

        

5.125%, 4/01/23

      162          145,904  

5.875%, 1/15/22-10/15/24

      670          639,755  

6.00%, 4/15/26

      677          594,068  

Monitronics International, Inc.

        

9.125%, 4/01/20 (a)

      958          238,804  

Nielsen Finance LLC/Nielsen Finance Co.

        

5.00%, 4/15/22 (b)

      549          526,999  

Prime Security Services Borrower LLC/Prime Finance, Inc.

        

9.25%, 5/15/23 (b)

      2,410          2,484,792  

Refinitiv US Holdings, Inc.

        

6.25%, 5/15/26 (b)

      273          262,743  

8.25%, 11/15/26 (b)

      252          230,282  

Ritchie Bros Auctioneers, Inc.

        

5.375%, 1/15/25 (b)

      366          358,346  

Sabre GLBL, Inc.

        

5.25%, 11/15/23 (b)

      543          536,618  

5.375%, 4/15/23 (b)

      656          654,763  

Team Health Holdings, Inc.

        

6.375%, 2/01/25 (a)(b)

      1,645          1,343,440  

Verscend Escrow Corp.

        

9.75%, 8/15/26 (b)

      1,595          1,499,029  
       

 

 

  
          17,307,006  
       

 

 

  

Technology - 1.5%

        

Amkor Technology, Inc.

        

6.375%, 10/01/22

      2,681          2,677,223  

Banff Merger Sub, Inc.

        

9.75%, 9/01/26 (b)

      2,432          2,225,621  

     Principal
Amount
(000)		        U.S. $ Value  

Dell International LLC/EMC Corp.

        

7.125%, 6/15/24 (b)

    U.S.$ 187        $ 190,302  

Dell, Inc.

        

6.50%, 4/15/38

      1,671              1,493,023  

Goodman Networks, Inc.

        

8.00%, 5/11/22 (g)

      664          329,645  

Infor Software Parent LLC/Infor Software Parent, Inc.

        

7.125% (7.125% Cash or 7.875% PIK), 5/01/21 (b)(h)

      279          271,234  

Infor US, Inc.

        

6.50%, 5/15/22

              1,222          1,179,419  

IQVIA, Inc.

        

3.25%, 3/15/25 (b)

    EUR 782          879,078  

Nokia Oyj

        

6.625%, 5/15/39

    U.S.$ 527          534,913  

Rackspace Hosting, Inc.

        

8.625%, 11/15/24 (b)

      55          42,889  

Solera LLC/Solera Finance, Inc.

        

10.50%, 3/01/24 (b)

      1,941          2,067,165  

Veritas US, Inc./Veritas Bermuda Ltd.

 

     

7.50%, 2/01/23 (b)

      964          785,279  

10.50%, 2/01/24 (b)

      2,276          1,481,446  

West Corp.

        

8.50%, 10/15/25 (b)

      748          602,158  

Western Digital Corp.

        

4.75%, 2/15/26

      1,023          887,433  
       

 

 

  
          15,646,828  
       

 

 

  

Transportation - Airlines - 0.0%

        

America West Airlines Pass Through Trust

        

Series 1999-1G, Class G

        

7.93%, 1/02/19

      187          187,476  
       

 

 

  

Transportation - Services - 0.8%

        

Avis Budget Car Rental LLC/Avis Budget Finance, Inc.

        

5.50%, 4/01/23 (a)

      619          600,415  

Europcar Mobility Group

        

5.75%, 6/15/22 (b)

    EUR 670          777,795  

Herc Rentals, Inc.

        

7.75%, 6/01/24 (a)(b)

    U.S.$ 1,331          1,387,193  

Hertz Corp. (The)

        

5.50%, 10/15/24 (b)

      2,902          2,126,150  

7.625%, 6/01/22 (b)

      641          605,737  

Hertz Holdings Netherlands BV

        

5.50%, 3/30/23

    EUR 1,117          1,261,600  

Loxam SAS

        

3.50%, 4/15/22 (b)

      186          214,228  

4.25%, 4/15/24 (b)

      138          159,413  

United Rentals North America, Inc.

        

5.50%, 5/15/27

    U.S.$ 418          387,651  

5.75%, 11/15/24

      946          912,890  

     Principal
Amount
(000)		        U.S. $ Value  

XPO Logistics, Inc.

       

6.125%, 9/01/23 (b)

    U.S.$ 498        $ 480,374  
       

 

 

  
          8,913,446  
       

 

 

  
          334,420,531  
       

 

 

  

Financial Institutions - 7.4%

        

Banking - 4.4%

        

Allied Irish Banks PLC

       

Series E

       

7.375%, 12/03/20 (b)(n)

    EUR 871          1,037,866  

Ally Financial, Inc.

       

8.00%, 11/01/31

    U.S.$ 2,251          2,495,468  

Banco Bilbao Vizcaya Argentaria SA

        

5.875%, 5/24/22 (b)(n)

    EUR 1,200          1,305,650  

6.75%, 2/18/20 (b)(n)

      800          905,001  

8.875%, 4/14/21 (b)(n)

      1,000          1,241,707  

Banco de Sabadell SA

       

6.50%, 5/18/22 (b)(n)

      1,400          1,480,326  

Banco Santander SA

        

6.25%, 3/12/19-9/11/21 (b)(n)

      900          997,378  

6.75%, 4/25/22 (b)(n)

              1,500          1,746,553  

Bank of Ireland

       

7.375%, 6/18/20 (b)(n)

      1,455          1,737,050  

Barclays Bank PLC

       

6.86%, 6/15/32 (b)(n)

    U.S.$ 166          171,272  

Barclays PLC

        

7.25%, 3/15/23 (b)(n)

    GBP 219          278,964  

7.75%, 9/15/23 (n)

    U.S.$ 420          404,535  

8.00%, 12/15/20 (n)

    EUR 1,732          2,091,103  

CIT Group, Inc.

       

6.125%, 3/09/28

    U.S.$ 588          585,545  

Citigroup, Inc.

       

5.95%, 1/30/23 (n)

      2,689          2,443,825  

Citizens Financial Group, Inc.

       

Series B

       

6.00%, 7/06/23 (n)

      970          892,400  

Credit Suisse Group AG

        

6.25%, 12/18/24 (b)(n)

      1,404          1,330,708  

7.50%, 12/11/23 (b)(n)

      3,043          3,103,860  

Danske Bank A/S

        

6.125%, 3/28/24 (b)(n)

      265          231,302  

Series E

        

5.875%, 4/06/22 (b)(n)

    EUR 1,096          1,256,885  

Goldman Sachs Group, Inc. (The)

        

Series P

        

5.00%, 11/10/22 (n)

    U.S.$ 1,599          1,346,985  

ING Groep NV

        

6.50%, 4/16/25 (n)

      520          479,700  

6.875%, 4/16/22 (b)(n)

      250          248,555  

     Principal
Amount
(000)		        U.S. $ Value  

Intesa Sanpaolo SpA

        

3.928%, 9/15/26 (a)(b)

    EUR 227        $ 260,211  

5.017%, 6/26/24 (b)

    U.S.$ 331          299,355  

5.71%, 1/15/26 (b)

      1,232          1,122,759  

Lloyds Banking Group PLC

        

6.413%, 10/01/35 (b)(n)

      235          228,769  

6.657%, 5/21/37 (b)(n)

      98          96,553  

7.625%, 6/27/23 (b)(n)

    GBP 1,760          2,308,105  

Royal Bank of Scotland Group PLC

        

8.625%, 8/15/21 (n)

    U.S.$ 3,518          3,642,319  

Series U

        

5.123% (LIBOR 3 Month + 2.32%), 9/30/27 (a)(m)(n)

      1,100          985,622  

Skandinaviska Enskilda Banken AB

       

5.625%, 5/13/22 (b)(n)

      400          379,300  

SNS Bank NV

        

Series E

        

11.25%, 12/31/49 (c)(e)(g)

    EUR 620          6,050  

Societe Generale SA

        

7.375%, 9/13/21 (b)(n)

    U.S.$ 2,007          1,969,114  

7.875%, 12/18/23 (b)(n)

      563          556,666  

8.00%, 9/29/25 (b)(n)

      601          605,507  

Standard Chartered PLC

        

7.50%, 4/02/22 (b)(n)

      1,269          1,271,529  

7.75%, 4/02/23 (b)(n)

      440          435,681  

SunTrust Banks, Inc.

        

Series H

        

5.125%, 12/15/27 (n)

      492          417,005  

UBS Group Funding Switzerland AG

        

6.875%, 3/22/21 (b)(n)

      200          200,479  

7.00%, 2/19/25 (b)(n)

              2,492          2,537,055  

UniCredit SpA

        

9.25%, 6/03/22 (b)(n)

    EUR 1,554          1,919,394  
       

 

 

  
          47,054,111  
       

 

 

  

Brokerage - 0.2%

        

Lehman Brothers Holdings, Inc.

        

6.875%, 5/02/18 (c)(e)(g)

    U.S.$ 1,690          32,110  

LPL Holdings, Inc.

        

5.75%, 9/15/25 (b)

      1,517          1,422,187  
       

 

 

  
          1,454,297  
       

 

 

  

Finance - 1.3%

        

Compass Group Diversified Holdings LLC

       

8.00%, 5/01/26 (b)

      1,127          1,117,501  

Curo Group Holdings Corp.

        

8.25%, 9/01/25 (b)

      2,426          1,891,851  

Enova International, Inc.

       

8.50%, 9/01/24-9/15/25 (b)

      1,700          1,404,167  

goeasy Ltd.

       

7.875%, 11/01/22 (b)

      466          472,533  

     Principal
Amount
(000)		        U.S. $ Value  

ILFC E-Capital Trust II

       

4.80% (H15T 30 Year + 1.80%), 12/21/65 (b)(m)

    U.S.$ 2,000        $ 1,560,300  

Lincoln Finance Ltd.

        

6.875%, 4/15/21 (b)

    EUR 1,139          1,331,711  

Navient Corp.

        

5.50%, 1/25/23

    U.S.$ 2,011          1,763,058  

5.875%, 3/25/21

      275          263,312  

6.50%, 6/15/22

      357          332,832  

6.625%, 7/26/21

      182          175,791  

6.75%, 6/15/26

      616          511,332  

7.25%, 1/25/22-9/25/23

      801          750,870  

8.00%, 3/25/20

      184          187,136  

SLM Corp.

        

5.125%, 4/05/22

      605          588,758  

Springleaf Finance Corp.

        

6.875%, 3/15/25

      735          656,157  

TMX Finance LLC/TitleMax Finance Corp.

        

11.125%, 4/01/23 (b)

      890          720,123  
       

 

 

  
          13,727,432  
       

 

 

  

Insurance - 0.8%

        

Ambac Assurance Corp.

       

5.10%, 6/07/20 (b)(g)

      15          19,468  

ASR Nederland NV

       

4.625%, 10/19/27 (a)(b)(n)

    EUR 840          848,357  

Galaxy Bidco Ltd.

       

6.375%, 11/15/20 (b)

    GBP 133          167,642  

Genworth Holdings, Inc.

       

7.625%, 9/24/21

    U.S.$ 1,616          1,579,682  

Liberty Mutual Group, Inc.

        

7.80%, 3/15/37 (b)

              2,559          2,738,130  

Polaris Intermediate Corp.

        

8.50%, 12/01/22 (b)(h)

      2,892          2,641,809  

WellCare Health Plans, Inc.

        

5.375%, 8/15/26 (b)

      570          551,157  
       

 

 

  
          8,546,245  
       

 

 

  

Other Finance - 0.5%

        

Intrum AB

 

     

2.75%, 7/15/22 (b)

    EUR 977          1,030,813  

3.125%, 7/15/24 (a)(b)

      489          494,094  

LHC3 PLC

        

4.125% (4.125% Cash or 4.875% PIK), 8/15/24 (b)(h)

      239          261,034  

NVA Holdings, Inc./United States

        

6.875%, 4/01/26 (b)

    U.S.$ 833          740,710  

Tempo Acquisition LLC/Tempo Acquisition Finance Corp.

        

6.75%, 6/01/25 (b)

      2,464          2,320,829  

Travelport Corporate Finance PLC

        

6.00%, 3/15/26 (b)

      461          464,811  
       

 

 

  
          5,312,291  

     Principal
Amount
(000)		        U.S. $ Value  

REITS - 0.2%

        

Iron Mountain, Inc.

        

4.875%, 9/15/27 (b)

    U.S.$ 230        $ 200,690  

5.25%, 3/15/28 (b)

      1,576          1,391,280  

MPT Operating Partnership LP/MPT Finance Corp.

 

     

5.00%, 10/15/27

      319          291,220  

5.25%, 8/01/26

      137          129,260  

5.50%, 5/01/24

      264          262,702  
       

 

 

  
          2,275,152  
       

 

 

  
          78,369,528  
       

 

 

  

Utility - 1.0%

        

Electric - 0.8%

        

AES Corp./VA

       

4.875%, 5/15/23

      976          954,448  

Calpine Corp.

        

5.375%, 1/15/23

      1,732          1,622,037  

5.50%, 2/01/24

      1,279          1,170,219  

5.75%, 1/15/25

      102          93,155  

NRG Energy, Inc.

        

5.75%, 1/15/28

      703          676,286  

7.25%, 5/15/26

      1,754          1,827,750  

Talen Energy Supply LLC

        

4.60%, 12/15/21

      33          29,785  

6.50%, 6/01/25

      757          540,132  

10.50%, 1/15/26 (b)

      622          526,828  

Texas Competitive/TCEH

        

11.50%, 10/01/20 (d)(e)(g)(j)

      626          0  

Vistra Energy Corp.

        

7.375%, 11/01/22

      765          789,681  

7.625%, 11/01/24

      920          973,137  
       

 

 

  
          9,203,458  
       

 

 

  

Natural Gas - 0.2%

        

NGL Energy Partners LP/NGL Energy Finance Corp.

       

7.50%, 11/01/23

              1,889          1,819,054  
       

 

 

  
          11,022,512  
       

 

 

  

Total Corporates - Non-Investment Grade
(cost $469,754,820)

           423,812,571  
       

 

 

  

COLLATERALIZED MORTGAGE OBLIGATIONS - 11.6%

        

Risk Share Floating Rate - 9.7%

        

Bellemeade Re Ltd.

        

Series 2015-1A, Class M2

        

6.806% (LIBOR 1 Month + 4.30%), 7/25/25 (j)(m)

      278          279,361  

Series 2018-2A, Class M1B

        

3.856% (LIBOR 1 Month + 1.35%), 8/25/28 (b)(m)

      1,968          1,978,096  

Series 2018-3A, Class M2

        

     Principal
Amount
(000)		        U.S. $ Value  

5.256% (LIBOR 1 Month + 2.75%), 10/25/27 (b)(m)

    U.S.$ 915        $ 917,158  

Eagle RE Ltd.

        

Series 2018-1, Class M2

        

5.28% (LIBOR 1 Month + 3.00%), 11/25/28 (b)(m)

      264          264,435  

Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes

        

Series 2013-DN1, Class M2

        

9.656% (LIBOR 1 Month + 7.15%), 7/25/23 (m)

      2,307          2,690,782  

Series 2013-DN2, Class M2

        

6.756% (LIBOR 1 Month + 4.25%), 11/25/23 (m)

      1,733          1,887,033  

Series 2014-DN1, Class M3

        

7.006% (LIBOR 1 Month + 4.50%), 2/25/24 (m)

      1,939          2,173,477  

Series 2014-DN2, Class M3

        

6.106% (LIBOR 1 Month + 3.60%), 4/25/24 (m)

      514          553,672  

Series 2014-DN3, Class M3

        

6.506% (LIBOR 1 Month + 4.00%), 8/25/24 (m)

      635          682,855  

Series 2014-DN4, Class M3

        

7.056% (LIBOR 1 Month + 4.55%), 10/25/24 (m)

      369          404,202  

Series 2014-HQ1, Class M3

        

6.606% (LIBOR 1 Month + 4.10%), 8/25/24 (m)

      1,686          1,812,116  

Series 2014-HQ2, Class M3

        

6.256% (LIBOR 1 Month + 3.75%), 9/25/24 (m)

              3,710          4,081,952  

Series 2014-HQ3, Class M3

        

7.256% (LIBOR 1 Month + 4.75%), 10/25/24 (m)

      4,146          4,544,150  

Series 2015-DN1, Class B

        

14.006% (LIBOR 1 Month + 11.50%), 1/25/25 (m)

      2,212          2,919,435  

Series 2015-DN1, Class M3

        

6.656% (LIBOR 1 Month + 4.15%), 1/25/25 (m)

      1,314          1,396,034  

Series 2015-DNA1, Class B

        

11.706% (LIBOR 1 Month + 9.20%), 10/25/27 (m)

      596          744,591  

Series 2015-DNA1, Class M3

        

5.806% (LIBOR 1 Month + 3.30%), 10/25/27 (m)

      480          520,676  

Series 2015-DNA2, Class B

        

10.056% (LIBOR 1 Month + 7.55%), 12/25/27 (m)

      1,459          1,690,358  

Series 2015-DNA3, Class B

        

11.856% (LIBOR 1 Month + 9.35%), 4/25/28 (m)

      1,027          1,279,881  

Series 2015-HQ1, Class B

        

     Principal
Amount
(000)		        U.S. $ Value  

13.256% (LIBOR 1 Month + 10.75%), 3/25/25 (m)

    U.S.$ 3,878        $ 5,099,232  

Series 2015-HQ1, Class M3

        

6.306% (LIBOR 1 Month + 3.80%), 3/25/25 (m)

      530          558,299  

Series 2015-HQA1, Class B

        

11.306% (LIBOR 1 Month + 8.80%), 3/25/28 (m)

      1,010          1,164,408  

Series 2015-HQA1, Class M3

        

7.206% (LIBOR 1 Month + 4.70%), 3/25/28 (m)

      1,455          1,624,562  

Series 2016-DNA2, Class B

        

13.006% (LIBOR 1 Month + 10.50%), 10/25/28 (m)

      860          1,122,986  

Series 2016-DNA2, Class M3

        

7.156% (LIBOR 1 Month + 4.65%), 10/25/28 (m)

      811          911,941  

Series 2016-DNA3, Class B

        

13.756% (LIBOR 1 Month + 11.25%), 12/25/28 (m)

              2,776              3,669,572  

Series 2016-DNA3, Class M3

        

7.506% (LIBOR 1 Month + 5.00%), 12/25/28 (m)

      1,113          1,251,515  

Series 2016-DNA4, Class B

        

11.106% (LIBOR 1 Month + 8.60%), 3/25/29 (m)

      396          460,999  

Series 2016-HQA2, Class B

        

14.006% (LIBOR 1 Month + 11.50%), 11/25/28 (m)

      422          532,803  

Series 2017-DNA2, Class B1

        

7.656% (LIBOR 1 Month + 5.15%), 10/25/29 (m)

      415          464,977  

Series 2017-DNA2, Class M2

        

5.956% (LIBOR 1 Month + 3.45%), 10/25/29 (m)

      599          633,817  

Series 2017-DNA3, Class B1

        

6.956% (LIBOR 1 Month + 4.45%), 3/25/30 (m)

      615          650,720  

Federal National Mortgage Association Connecticut Avenue Securities

        

Series 2013-C01, Class M2

        

7.756% (LIBOR 1 Month + 5.25%), 10/25/23 (m)

      1,436          1,606,695  

Series 2014-C01, Class M2

        

6.906% (LIBOR 1 Month + 4.40%), 1/25/24 (m)

      3,991          4,412,346  

Series 2014-C03, Class 1M2

        

5.506% (LIBOR 1 Month + 3.00%), 7/25/24 (m)

      1,004          1,055,291  

Series 2014-C04, Class 1M2

        

7.406% (LIBOR 1 Month + 4.90%), 11/25/24 (m)

      2,569          2,867,501  

Series 2015-C01, Class 1M2

        

     Principal
Amount
(000)		        U.S. $ Value  

6.806% (LIBOR 1 Month + 4.30%), 2/25/25 (m)

    U.S.$ 2,479        $ 2,676,662  

Series 2015-C01, Class 2M2

        

7.056% (LIBOR 1 Month + 4.55%), 2/25/25 (m)

              1,095                  1,168,536  

Series 2015-C02, Class 1M2

        

6.506% (LIBOR 1 Month + 4.00%), 5/25/25 (m)

      737          788,942  

Series 2015-C02, Class 2M2

        

6.506% (LIBOR 1 Month + 4.00%), 5/25/25 (m)

      2,000          2,131,292  

Series 2015-C03, Class 1M2

        

7.506% (LIBOR 1 Month + 5.00%), 7/25/25 (m)

      2,278          2,514,053  

Series 2015-C03, Class 2M2

        

7.506% (LIBOR 1 Month + 5.00%), 7/25/25 (m)

      1,890          2,063,666  

Series 2015-C04, Class 1M2

        

8.206% (LIBOR 1 Month + 5.70%), 4/25/28 (m)

      2,666          3,009,376  

Series 2015-C04, Class 2M2

        

8.056% (LIBOR 1 Month + 5.55%), 4/25/28 (m)

      957          1,064,765  

Series 2016-C01, Class 1B

        

14.256% (LIBOR 1 Month + 11.75%), 8/25/28 (m)

      682          972,426  

Series 2016-C01, Class 1M2

        

9.256% (LIBOR 1 Month + 6.75%), 8/25/28 (m)

      2,077          2,419,003  

Series 2016-C01, Class 2M2

        

9.456% (LIBOR 1 Month + 6.95%), 8/25/28 (m)

      705          818,084  

Series 2016-C02, Class 1B

        

14.756% (LIBOR 1 Month + 12.25%), 9/25/28 (m)

      449          653,159  

Series 2016-C02, Class 1M2

        

8.506% (LIBOR 1 Month + 6.00%), 9/25/28 (m)

      2,375          2,726,154  

Series 2016-C03, Class 1B

        

14.256% (LIBOR 1 Month + 11.75%), 10/25/28 (m)

      374          531,998  

Series 2016-C03, Class 2B

        

15.256% (LIBOR 1 Month + 12.75%), 10/25/28 (m)

      632          916,414  

Series 2016-C03, Class 2M2

        

8.406% (LIBOR 1 Month + 5.90%), 10/25/28 (m)

      3,652          4,115,514  

Series 2016-C04, Class 1B

        

12.756% (LIBOR 1 Month + 10.25%), 1/25/29 (m)

      1,493          1,980,757  

Series 2016-C05, Class 2B

        

13.256% (LIBOR 1 Month + 10.75%), 1/25/29 (m)

      1,820          2,279,501  

Series 2016-C05, Class 2M2

        

     Principal
Amount
(000)		        U.S. $ Value  

6.956% (LIBOR 1 Month + 4.45%), 1/25/29 (m)

    U.S.$ 1,486        $ 1,621,476  

Series 2016-C06, Class 1B

        

11.756% (LIBOR 1 Month + 9.25%), 4/25/29 (m)

              1,287          1,617,920  

Series 2016-C07, Class 2B

        

12.006% (LIBOR 1 Month + 9.50%), 5/25/29 (m)

      1,559          1,941,677  

Series 2016-C07, Class 2M2

        

6.856% (LIBOR 1 Month + 4.35%), 5/25/29 (m)

      918          994,091  

Series 2017-C01, Class 1B1

        

8.256% (LIBOR 1 Month + 5.75%), 7/25/29 (m)

      148          170,353  

Series 2017-C02, Class 2M2

        

6.156% (LIBOR 1 Month + 3.65%), 9/25/29 (m)

      1,152          1,224,015  

Series 2018-C01, Class 1B1

        

6.056% (LIBOR 1 Month + 3.55%), 7/25/30 (m)

      909          863,780  

Series 2018-R07, Class 1B1

        

6.856% (LIBOR 1 Month + 4.35%), 4/25/31 (b)(m)

      441          432,398  

Home Re Ltd.

        

Series 2018-1, Class M2

        

5.506% (LIBOR 1 Month + 3.00%), 10/25/28 (b)(m)

      988          985,318  

JP Morgan Madison Avenue Securities Trust

        

Series 2015-CH1, Class M2

        

8.006% (LIBOR 1 Month + 5.50%), 10/25/25 (b)(m)

      1,428          1,610,968  

Wells Fargo Credit Risk Transfer Securities Trust

        

Series 2015-WF1, Class 2M2

        

8.01% (LIBOR 1 Month + 5.50%), 11/25/25 (j)(m)

      611          706,022  
       

 

 

  
          103,906,248  
       

 

 

  

Non-Agency Fixed Rate - 1.0%

        

Alternative Loan Trust

        

Series 2006-24CB, Class A15

        

5.75%, 8/01/36

      806          661,457  

Series 2006-42, Class 1A6

        

6.00%, 1/25/47

      692          562,568  

Series 2006-HY12, Class A5

        

3.872%, 8/25/36

      1,362          1,389,670  

Series 2006-J1, Class 1A10

        

5.50%, 2/25/36

      1,171          1,039,850  

Series 2006-J5, Class 1A1

        

6.50%, 9/25/36

      909          763,745  

Bear Stearns ARM Trust

        

Series 2007-3, Class 1A1

        

3.961%, 5/25/47

      208          191,421  

Series 2007-4, Class 22A1

        

     Principal
Amount
(000)		        U.S. $ Value  

3.924%, 6/25/47

    U.S.$ 774        $ 704,975  

BNPP Mortgage Securities LLC Trust

        

Series 2009-1, Class B1

        

6.00%, 8/27/37 (b)

              809                  619,360  

ChaseFlex Trust

        

Series 2007-1, Class 1A3

        

6.50%, 2/25/37

      537          318,142  

Citigroup Mortgage Loan Trust

       

Series 2007-AR4, Class 1A1A

        

3.925%, 3/25/37

      149          145,120  

CitiMortgage Alternative Loan Trust

        

Series 2007-A3, Class 1A4

        

5.75%, 3/25/37

      921          882,955  

Countrywide Home Loan Mortgage Pass-Through Trust

        

Series 2007-HY4, Class 1A1

        

4.058%, 9/25/47

      221          204,669  

Credit Suisse Mortgage Trust

        

Series 2009-8R, Class 6A2

        

6.00%, 1/26/38 (b)

      114          88,378  

CSMC Mortgage-Backed Trust

        

Series 2006-7, Class 3A12

        

6.25%, 8/25/36

      341          274,915  

Residential Accredit Loans, Inc. Trust

        

Series 2005-QS14, Class 3A1

        

6.00%, 9/25/35

      473          440,537  

Residential Asset Securitization Trust

        

Series 2006-A8, Class 3A4

        

6.00%, 8/25/36

      196          159,026  

Washington Mutual Mortgage Pass-Through Certificates Trust

        

Series 2006-9, Class A4

        

4.747%, 10/25/36

      1,563          721,523  

Wells Fargo Mortgage Backed Securities Trust

        

Series 2007-AR7, Class A1

        

4.773%, 12/28/37

      979          954,578  
       

 

 

  
          10,122,889  
       

 

 

  

Non-Agency Floating Rate - 0.9%

        

Alternative Loan Trust

        

Series 2007-7T2, Class A3

        

3.106% (LIBOR 1 Month + 0.60%), 4/25/37 (m)

      2,622          1,194,398  

Citigroup Mortgage Loan Trust

        

Series 2005-8, Class 2A2

        

2.294% (4.80% - LIBOR 1 Month), 9/25/35 (m)(o)

      348          11,204  

Countrywide Home Loan Mortgage Pass-Through Trust

        

Series 2007-13, Class A7

        

3.106% (LIBOR 1 Month + 0.60%), 8/25/37 (m)

      536          359,298  

First Horizon Alternative Mortgage Securities Trust

        

Series 2007-FA2, Class 1A6

        

3.044% (5.55% - LIBOR 1 Month), 4/25/37 (m)(o)

      110          13,690  

     Principal
Amount
(000)		        U.S. $ Value  

Series 2007-FA2, Class 1A10

        

2.756% (LIBOR 1 Month + 0.25%), 4/25/37 (m)

    U.S.$ 326        $ 161,143  

Lehman XS Trust

        

Series 2007-10H, Class 2AIO

        

4.651% (7.00% - LIBOR 1 Month), 7/25/37 (m)(o)

      311          43,220  

Residential Accredit Loans, Inc. Trust

        

Series 2006-QS18, Class 2A2

        

4.044% (6.55% - LIBOR 1 Month), 12/25/36 (m)(o)

      4,025          667,874  

Structured Asset Mortgage Investments II Trust

       

Series 2007-AR6, Class A1

        

3.657% (12MTA + 1.50%), 8/25/47 (m)

      1,426          1,332,504  

Wachovia Mortgage Loan Trust

        

Series 2006-ALT1, Class A2

        

2.686% (LIBOR 1 Month + 0.18%), 1/25/37 (m)

      9,493          6,193,900  
       

 

 

  
              9,977,231  
       

 

 

  

Total Collateralized Mortgage Obligations
(cost $112,986,473)

           124,006,368  
       

 

 

  

GOVERNMENTS - TREASURIES - 10.0%

        

Colombia - 0.2%

        

Colombian TES

        

Series B

        

10.00%, 7/24/24

    COP 5,438,000          1,969,347  
       

 

 

  

Malaysia - 0.2%

        

Malaysia Government Bond

        

Series 43528

        

5.734%, 7/30/19

    MYR 9,297          2,278,779  
       

 

 

  

Mexico - 0.4%

        

Mexican Bonos

        

Series M 20

        

7.50%, 6/03/27

    MXN 95,733          4,521,435  
       

 

 

  

Russia - 0.4%

        

Russian Federal Bond - OFZ

        

Series 6209

        

7.60%, 7/20/22

    RUB 37,074          525,139  

Series 6217

        

7.50%, 8/18/21

      274,943          3,903,066  
       

 

 

  
          4,428,205  
       

 

 

  

United States - 8.7%

        

U.S. Treasury Bonds

        

2.75%, 11/15/42 (p)

    U.S.$ 2,200          2,102,719  

4.50%, 2/15/36 (q)

      2,400          2,957,250  

5.00%, 5/15/37 (p)

      1,900          2,493,156  

5.25%, 2/15/29 (q)

      5,350          6,539,539  

6.125%, 11/15/27 (p)

      1,000          1,270,312  

6.25%, 5/15/30 (q)

      5,800          7,781,062  

     Principal
Amount
(000)		        U.S. $ Value  

8.125%, 5/15/21

    U.S.$ 5,250        $ 5,921,016  

U.S. Treasury Notes

        

0.875%, 4/15/19 (q)

      20,074          19,989,312  

2.25%, 2/15/27 (q)

      26,373          25,610,657  

2.875%, 8/15/28

              17,670          17,943,334  
       

 

 

  
          92,608,357  
       

 

 

  

Uruguay - 0.1%

        

Uruguay Government International Bond

        

8.50%, 3/15/28 (b)

    UYU 23,821          622,807  

9.875%, 6/20/22 (b)

      18,660          568,472  
       

 

 

  
          1,191,279  
       

 

 

  

Total Governments - Treasuries
(cost $107,464,818)

           106,997,402  
       

 

 

  

CORPORATES - INVESTMENT GRADE - 6.7%

        

Financial Institutions - 4.0%

        

Banking - 1.9%

        

ABN AMRO Bank NV Series E

        

6.25%, 4/27/22 (b)

    U.S.$ 292          309,712  

Bank of America Corp. Series DD

        

6.30%, 3/10/26 (n)

      3,043          3,092,911  

Series Z

        

6.50%, 10/23/24 (n)

      57          58,480  

BNP Paribas SA

        

6.75%, 3/14/22 (b)(n)

      418          410,854  

7.625%, 3/30/21 (b)(n)

      406          413,265  

BPCE SA

        

5.70%, 10/22/23 (b)

      208          215,679  

Citigroup, Inc.

        

4.40%, 6/10/25

      105          103,160  

Credit Agricole SA

        

7.589%, 1/30/20 (b)(n)

    GBP 1,000          1,333,197  

8.125%, 12/23/25 (b)(n)

    U.S.$ 1,909          1,960,156  

DNB Bank ASA

        

6.50%, 3/26/22 (b)(n)

      1,555          1,526,869  

HSBC Holdings PLC

        

6.00%, 9/29/23 (b)(n)

    EUR 2,746          3,330,652  

ICICI Bank Ltd./Dubai

        

4.80%, 5/22/19 (b)

    U.S.$ 1,337          1,343,816  

Intesa Sanpaolo SpA

        

2.75%, 3/20/20 (b)

    EUR 482          565,501  

4.00%, 5/20/19 (b)

      470          546,316  

JPMorgan Chase & Co.

        

Series V

        

5.00%, 7/01/19 (n)

    U.S.$ 210          203,831  

Nationwide Building Society

        

4.302%, 3/08/29 (b)

      1,500          1,398,687  

Regions Bank/Birmingham AL

        

6.45%, 6/26/37

      1,500          1,741,722  

     Principal
Amount
(000)		        U.S. $ Value  

Santander Holdings USA, Inc.

        

4.40%, 7/13/27

    U.S.$ 1,090        $ 1,028,939  
       

 

 

  
          19,583,747  
       

 

 

  

Insurance - 1.8%

        

Aegon NV

        

5.50%, 4/11/48

      757          691,123  

Allstate Corp. (The)

        

6.50%, 5/15/57

              1,657          1,700,553  

American International Group, Inc.

        

6.82%, 11/15/37

      1,425          1,632,697  

Series A-9

        

5.75%, 4/01/48

      616          539,052  

Aon Corp.

        

8.205%, 1/01/27

      690          817,582  

Assicurazioni Generali SpA

        

Series E

        

5.50%, 10/27/47 (b)

    EUR 1,500          1,790,517  

Aviva PLC

        

3.875%, 7/03/44 (b)

      1,590          1,835,236  

Caisse Nationale de Reassurance Mutuelle Agricole Groupama

        

6.00%, 1/23/27

      1,400          1,778,895  

CNP Assurances

        

4.50%, 6/10/47 (b)

      1,500          1,801,048  

MetLife, Inc.

        

10.75%, 8/01/39

    U.S.$ 2,350          3,553,085  

Prudential Financial, Inc.

        

5.625%, 6/15/43

      1,425          1,401,155  

SCOR SE

        

3.00%, 6/08/46 (b)

    EUR 200          227,930  

Transatlantic Holdings, Inc.

        

8.00%, 11/30/39

    U.S.$ 1,261          1,722,501  
       

 

 

  
          19,491,374  
       

 

 

  

REITS - 0.3%

        

EPR Properties

        

5.75%, 8/15/22

      915          958,775  

GLP Capital LP/GLP Financing II, Inc.

        

5.375%, 4/15/26

      674          660,442  

5.75%, 6/01/28

      67          66,611  

Senior Housing Properties Trust

        

6.75%, 12/15/21

      1,350          1,414,491  

Spirit Realty LP

        

4.45%, 9/15/26

      193          187,081  
       

 

 

  
          3,287,400  
       

 

 

  
          42,362,521  
       

 

 

  

Industrial - 2.7%

        

Basic - 0.7%

        

Anglo American Capital PLC

        

3.625%, 9/11/24 (b)

      200          188,030  

4.75%, 4/10/27 (b)

      637          611,494  

ArcelorMittal

        

6.75%, 3/01/41

      362          379,547  

     Principal
Amount
(000)		        U.S. $ Value  

7.00%, 10/15/39

    U.S.$ 624        $ 653,591  

Braskem Finance Ltd.

        

6.45%, 2/03/24

      1,972          2,075,530  

Fresnillo PLC

        

5.50%, 11/13/23 (b)

      306          310,972  

Georgia-Pacific LLC

        

8.875%, 5/15/31

      1          1,460  

Glencore Finance Canada Ltd.

        

6.00%, 11/15/41 (b)

      272          265,421  

Glencore Funding LLC

        

4.625%, 4/29/24 (b)

      341          339,882  

Minsur SA

        

6.25%, 2/07/24 (b)

      891          911,110  

WestRock MWV LLC

        

7.95%, 2/15/31

      1,000          1,269,883  
       

 

 

  
          7,006,920  
       

 

 

  

Capital Goods - 0.2%

        

General Electric Co.

        

Series D

        

5.00%, 1/21/21 (n)

      1,681          1,290,903  

Lafarge SA

        

7.125%, 7/15/36

      800          939,733  

Masco Corp.

        

5.95%, 3/15/22

      308          322,904  
       

 

 

  
          2,553,540  
       

 

 

  

Communications - Media - 0.1%

        

Charter Communications Operating LLC/Charter Communications Operating Capital

        

4.908%, 7/23/25

      1,195          1,186,164  

Cox Communications, Inc.

        

4.50%, 6/30/43 (b)

      135          112,178  

4.70%, 12/15/42 (b)

      259          223,899  
       

 

 

  
          1,522,241  
       

 

 

  

Communications - Telecommunications - 0.2%

        

Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC

        

4.738%, 3/20/25 (b)

      1,340          1,315,276  

5.152%, 3/20/28 (b)

      1,340          1,315,356  
       

 

 

  
          2,630,632  
       

 

 

  

Consumer Cyclical - Automotive - 0.1%

        

General Motors Co.

        

5.20%, 4/01/45

      337          279,434  

5.40%, 4/01/48

      181          158,740  

6.25%, 10/02/43

      116          108,868  

6.75%, 4/01/46

      456          441,986  
       

 

 

  
          989,028  
       

 

 

  

     Principal
Amount
(000)		        U.S. $ Value  

Consumer Cyclical - Other - 0.1%

        

Owens Corning

       

7.00%, 12/01/36

    U.S.$ 777        $ 870,273  
       

 

 

  

Consumer Non-Cyclical - 0.2%

 

CVS Health Corp.

       

4.78%, 3/25/38

               2,140          2,056,771  
       

 

 

  

Energy - 0.4%

        

Cenovus Energy, Inc.

        

4.45%, 9/15/42

      822          630,951  

6.75%, 11/15/39

      67          65,859  

Ecopetrol SA

       

5.875%, 5/28/45

      1,271          1,191,562  

Energy Transfer Partners LP/Regency Energy Finance Corp.

        

4.50%, 11/01/23

     

 

 546

 

  

 

        544,650  

Kinder Morgan, Inc./DE

        

Series G

        

7.75%, 1/15/32

      328          394,072  

7.80%, 8/01/31

      1,066          1,286,644  
       

 

 

  
          4,113,738  
       

 

 

  

Other Industrial - 0.1%

        

Alfa SAB de CV

       

5.25%, 3/25/24 (b)

      1,580          1,568,150  
       

 

 

  

Services - 0.1%

        

Verisk Analytics, Inc.

       

5.50%, 6/15/45

      636          659,786  
       

 

 

  

Technology - 0.5%

        

Dell International LLC/EMC Corp.

        

6.02%, 6/15/26 (b)

      1,318          1,324,242  

8.35%, 7/15/46 (b)

      524          567,688  

Micron Technology, Inc.

       

5.50%, 2/01/25

      686          672,950  

Seagate HDD Cayman

 

     

4.75%, 1/01/25

      1,948          1,733,779  

4.875%, 6/01/27

      1,082          916,417  
       

 

 

  
          5,215,076  
       

 

 

  

Transportation - Airlines - 0.0%

        

Northwest Airlines Pass Through Trust

       

Series 2000-1, Class G

       

7.15%, 10/01/19 (c)

      122          120,928  
       

 

 

  
               29,307,083  
       

 

 

  

Utility - 0.0%

        

Electric - 0.0%

        

DPL, Inc.

       

6.75%, 10/01/19

      171          173,735  
       

 

 

  

Total Corporates - Investment Grade
(cost $69,838,808)

           71,843,339  
       

 

 

  

     Principal
Amount
(000)		        U.S. $ Value  

EMERGING MARKETS - SOVEREIGNS - 6.1%

        

Angola - 0.2%

        

Angolan Government International Bond

       

9.50%, 11/12/25 (b)

    U.S.$          2,233        $ 2,347,441  

Republic of Angola Via Northern Lights III BV

       

7.00%, 8/17/19 (b)

      256          256,954  
       

 

 

  
               2,604,395  
       

 

 

  

Argentina - 0.2%

        

Argentine Republic Government International Bond

        

6.875%, 1/26/27

      269          204,440  

7.82%, 12/31/33

      EUR 1,674          1,600,557  
       

 

 

  
          1,804,997  
       

 

 

  

Bahrain - 0.2%

        

Bahrain Government International Bond

 

     

6.75%, 9/20/29 (b)

    U.S.$ 528          516,120  

7.00%, 10/12/28 (b)

      1,253          1,251,434  
       

 

 

  
          1,767,554  
       

 

 

  

Brazil - 0.3%

        

Brazilian Government International Bond

       

4.625%, 1/13/28

      3,530          3,395,348  
       

 

 

  

Cameroon - 0.1%

        

Republic of Cameroon International Bond

       

9.50%, 11/19/25 (b)

      1,222          1,241,858  
       

 

 

  

Costa Rica - 0.1%

        

Costa Rica Government International Bond

        

4.37%, 5/22/19 (b)

      858          845,650  

7.00%, 4/04/44 (b)

      628          531,759  
       

 

 

  
          1,377,409  
       

 

 

  

Dominican Republic - 0.9%

        

Dominican Republic International Bond

        

5.95%, 1/25/27 (b)

      1,553          1,542,517  

7.45%, 4/30/44 (b)

      1,283          1,328,547  

8.625%, 4/20/27 (b)

      5,719          6,505,362  
       

 

 

  
          9,376,426  
       

 

 

  

Ecuador - 0.2%

        

Ecuador Government International Bond

 

     

7.95%, 6/20/24 (b)

      667          587,794  

10.50%, 3/24/20 (b)

      1,069          1,080,237  
       

 

 

  
          1,668,031  
       

 

 

  

Egypt - 0.3%

        

Egypt Government International Bond

       

6.125%, 1/31/22 (b)

      3,009          2,948,820  
       

 

 

  

     Principal
Amount
(000)		        U.S. $ Value  

El Salvador - 0.1%

        

El Salvador Government International Bond

        

5.875%, 1/30/25 (b)

    U.S.$ 300        $ 274,500  

7.625%, 9/21/34 (b)

      762          771,525  

7.75%, 1/24/23 (b)

      339          348,831  
       

 

 

  
               1,394,856  
       

 

 

  

Gabon - 0.3%

        

Gabon Government International Bond

        

6.375%, 12/12/24 (b)

              2,052          1,839,476  

6.95%, 6/16/25 (b)

      1,050          938,438  
       

 

 

  
          2,777,914  
       

 

 

  

Ghana - 0.2%

        

Ghana Government International Bond

        

7.625%, 5/16/29 (b)

      1,840          1,644,500  

10.75%, 10/14/30 (b)

      780          881,400  
       

 

 

  
          2,525,900  
       

 

 

  

Honduras - 0.2%

        

Honduras Government International Bond

        

6.25%, 1/19/27 (b)

      1,748          1,706,485  

7.50%, 3/15/24 (b)

      730          766,500  
       

 

 

  
          2,472,985  
       

 

 

  

Iraq - 0.1%

        

Iraq International Bond

        

5.80%, 1/15/28 (b)

      264          235,950  

6.752%, 3/09/23 (b)

      402          381,900  
       

 

 

  
          617,850  
       

 

 

  

Ivory Coast - 0.5%

        

Ivory Coast Government International Bond

        

5.125%, 6/15/25 (b)

    EUR 168          184,065  

5.75%, 12/31/32 (b)

    U.S.$ 1,702          1,495,901  

6.125%, 6/15/33 (b)

      1,322          1,093,955  

6.375%, 3/03/28 (b)

      2,678          2,400,157  

6.625%, 3/22/48 (b)

    EUR 331          318,564  
       

 

 

  
          5,492,642  
       

 

 

  

Jamaica - 0.2%

        

Jamaica Government International Bond

        

7.625%, 7/09/25

    U.S.$ 506          568,617  

7.875%, 7/28/45

      1,240          1,407,400  
       

 

 

  
          1,976,017  
       

 

 

  

Jordan - 0.1%

        

Jordan Government International Bond

        

5.75%, 1/31/27 (b)

      634          582,488  
       

 

 

  

     Principal
Amount
(000)		        U.S. $ Value  

Kenya - 0.1%

        

Kenya Government International Bond

        

5.875%, 6/24/19 (b)

    U.S.$ 702        $ 702,000  

6.875%, 6/24/24 (b)

      360          337,050  

7.25%, 2/28/28 (b)

      649          579,232  
       

 

 

  
          1,618,282  
       

 

 

  

Lebanon - 0.2%

        

Lebanon Government International Bond

 

     

6.65%, 4/22/24 (b)

      427          355,477  

Series G

        

6.20%, 2/26/25 (b)

      823          655,314  

6.60%, 11/27/26 (b)

      1,974          1,539,720  
       

 

 

  
          2,550,511  
       

 

 

  

Mongolia - 0.2%

        

Mongolia Government International Bond

        

5.125%, 12/05/22 (b)

              2,426          2,272,537  

10.875%, 4/06/21 (b)

      200          219,500  
       

 

 

  
          2,492,037  
       

 

 

  

Nigeria - 0.3%

        

Nigeria Government International Bond

        

6.375%, 7/12/23 (b)

      740          710,400  

6.50%, 11/28/27 (b)

      388          342,895  

6.75%, 1/28/21 (b)

      288          290,880  

7.625%, 11/21/25 (b)

      1,785          1,725,536  

7.875%, 2/16/32 (b)

      489          444,379  
       

 

 

  
               3,514,090  
       

 

 

  

Senegal - 0.1%

        

Senegal Government International Bond

        

6.25%, 5/23/33 (b)

      593          509,980  

8.75%, 5/13/21 (b)

      310          328,600  
       

 

 

  
          838,580  
       

 

 

  

Sri Lanka - 0.2%

        

Sri Lanka Government International Bond

        

6.00%, 1/14/19 (b)

      799          794,006  

6.125%, 6/03/25 (b)

      350          313,687  

6.20%, 5/11/27 (b)

      685          605,369  
       

 

 

  
          1,713,062  
       

 

 

  

Turkey - 0.0%

        

Turkey Government International Bond

        

4.875%, 4/16/43

      599          443,260  
       

 

 

  

Ukraine - 0.5%

        

Ukraine Government International Bond

        

7.75%, 9/01/22-9/01/24 (b)

      5,627          5,059,169  
       

 

 

  

     Principal
Amount
(000)		        U.S. $ Value  

Venezuela - 0.2%

        

Venezuela Government International Bond

        

9.25%, 9/15/27 (e)(f)

    U.S.$ 7,978        $ 1,830,353  

9.25%, 5/07/28 (b)(e)(f)

      300          67,875  
       

 

 

  
          1,898,228  
       

 

 

  

Zambia - 0.1%

        

Zambia Government International Bond

        

8.50%, 4/14/24 (b)

      1,475          1,097,031  
       

 

 

  

Total Emerging Markets - Sovereigns
(cost $71,267,212)

           65,249,740  
       

 

 

  

EMERGING MARKETS - TREASURIES - 4.3%

        

Argentina - 0.7%

        

Argentina POM Politica Monetaria

        

Series POM

        

65.51% (ARLLMONP), 6/21/20 (m)

    ARS 124,935          3,529,365  

Argentine Bonos del Tesoro

        

15.50%, 10/17/26

      15,834          320,499  

16.00%, 10/17/23

      62,663          1,391,404  

18.20%, 10/03/21

      110,859          2,235,715  
       

 

 

  
          7,476,983  
       

 

 

  

Brazil - 2.5%

        

Brazil Notas do Tesouro Nacional

        

Series F

        

10.00%, 1/01/21

    BRL 100,732          27,184,374  
       

 

 

  

Dominican Republic - 0.3%

        

Dominican Republic International Bond

        

16.00%, 7/10/20 (j)

    DOP 137,500          2,973,126  
       

 

 

  

South Africa - 0.2%

        

Republic of South Africa Government Bond

        

Series R186

        

10.50%, 12/21/26

    ZAR 24,137               1,829,347  
       

 

 

  

Sri Lanka - 0.1%

        

Sri Lanka Government Bonds

        

10.25%, 3/15/25

    LKR 95,000          487,651  

Series A

        

11.50%, 5/15/23

                36,000          195,620  

11.75%, 6/15/27

      50,000          270,600  
       

 

 

  
          953,871  
       

 

 

  

Turkey - 0.5%

        

Turkey Government Bond

        

11.10%, 5/15/19

    TRY 31,033          5,626,087  
       

 

 

  

Total Emerging Markets - Treasuries
(cost $59,094,822)

           46,043,788  
       

 

 

  

     Principal
Amount
(000)		        U.S. $ Value  

EMERGING MARKETS - CORPORATE BONDS - 4.2%

        

Industrial - 3.4%

        

Basic - 0.8%

        

ABJA Investment Co. Pte Ltd.

        

4.85%, 1/31/20 (b)

    U.S.$ 1,070        $ 1,067,812  

Consolidated Energy Finance SA

        

6.875%, 6/15/25 (b)

      949          905,226  

Elementia SAB de CV

        

5.50%, 1/15/25 (b)

      469          431,480  

First Quantum Minerals Ltd.

        

6.875%, 3/01/26 (b)

      582          469,040  

7.00%, 2/15/21 (b)

      199          191,044  

7.25%, 5/15/22-4/01/23 (b)

      2,444               2,207,352  

7.50%, 4/01/25 (b)

      261          214,020  

Stillwater Mining Co.

        

6.125%, 6/27/22 (b)

      924          855,234  

7.125%, 6/27/25 (b)

      354          326,775  

Vedanta Resources PLC

        

6.375%, 7/30/22 (b)

      2,182          1,950,163  
       

 

 

  
          8,618,146  
       

 

 

  

Capital Goods - 0.2%

        

CIMPOR Financial Operations BV

        

5.75%, 7/17/24 (b)

      1,491          1,235,666  

Odebrecht Finance Ltd.

        

4.375%, 4/25/25 (b)(e)(f)

      349          48,860  

5.25%, 6/27/29 (b)(e)(f)

      1,070          145,520  

7.125%, 6/26/42 (b)(e)(f)

                2,665          395,086  
       

 

 

  
          1,825,132  
       

 

 

  

Communications - Telecommunications - 0.4%

        

Comunicaciones Celulares SA Via Comcel Trust

        

6.875%, 2/06/24 (b)

      986          1,006,952  

Digicel Group Ltd.

 

     

7.125%, 4/01/22 (b)

      448          198,862  

8.25%, 9/30/20 (b)

      587          398,093  

Digicel Ltd.

        

6.00%, 4/15/21 (b)

      1,356          1,222,095  

Millicom International Cellular SA

        

5.125%, 1/15/28 (b)

      479          429,481  

6.625%, 10/15/26 (b)

      615          624,357  

MTN Mauritius Investments Ltd.

        

6.50%, 10/13/26 (b)

      780          760,500  
       

 

 

  
          4,640,340  
       

 

 

  

Consumer Cyclical - Other - 0.2%

        

Servicios Corporativos Javer SAB de CV

        

9.875%, 4/06/21 (b)

      491          486,704  

Studio City Co., Ltd.

        

5.875%, 11/30/19 (b)

      737          744,370  

     Principal
Amount
(000)		        U.S. $ Value  

Wynn Macau Ltd.

 

     

4.875%, 10/01/24 (b)

    U.S.$ 286        $ 258,572  

5.50%, 10/01/27 (b)

      747          659,561  
       

 

 

  
          2,149,207  
       

 

 

  

Consumer Cyclical - Retailers - 0.1%

        

K2016470219 South Africa Ltd.

        

3.00%, 12/31/22 (g)(h)(j)

      977          98  

K2016470260 South Africa Ltd.

        

25.00%, 12/31/22 (g)(h)(j)

      300          90,153  

Prime Bloom Holdings Ltd.

        

7.50%, 12/19/19 (b)

      560          522,589  
       

 

 

  
          612,840  
       

 

 

  

Consumer Non-Cyclical - 0.9%

        

BRF GmbH

        

4.35%, 9/29/26 (b)

      339          292,461  

Central American Bottling Corp.

        

5.75%, 1/31/27 (b)

      928          904,800  

Cosan Ltd.

        

5.95%, 9/20/24 (b)

      430          422,807  

MARB BondCo PLC

        

6.875%, 1/19/25 (b)

      1,430          1,326,391  

Marfrig Holdings Europe BV

        

8.00%, 6/08/23 (b)

      1,220               1,220,000  

Minerva Luxembourg SA

        

5.875%, 1/19/28 (b)

      200          174,145  

6.50%, 9/20/26 (b)

      1,098          1,019,767  

Natura Cosmeticos SA

        

5.375%, 2/01/23 (b)

      817          818,879  

Rede D’or Finance SARL

        

4.95%, 1/17/28 (b)

      576          508,042  

Teva Pharmaceutical Finance Netherlands II BV

        

1.25%, 3/31/23 (b)

    EUR 247          256,412  

Teva Pharmaceutical Finance Netherlands III BV

        

2.80%, 7/21/23

    U.S.$ 375          321,562  

3.15%, 10/01/26

      1,123          861,902  

6.00%, 4/15/24

      315          302,206  

6.75%, 3/01/28

      315          304,763  

Tonon Luxembourg SA

        

7.25%, 1/24/20 (e)(f)(g)(h)(j)

      1,626          37,694  

USJ Acucar e Alcool SA

        

9.875% (9.875% Cash or 12.00% PIK), 11/09/21 (b)(h)

      604          438,353  

Virgolino de Oliveira Finance SA

        

10.50%, 1/28/18 (e)(g)(i)(j)

                4,090          250,786  

10.875%, 1/13/20 (e)(f)(j)

      480          132,000  

11.75%, 2/09/22 (e)(f)(j)

      1,620          48,600  
       

 

 

  
          9,641,570  
       

 

 

  

     Principal
Amount
(000)		        U.S. $ Value  

Energy - 0.6%

        

Azure Power Energy Ltd.

        

5.50%, 11/03/22 (b)

      U.S.$          788        $ 739,735  

CHC Group LLC/CHC Finance Ltd.

        

Series AI

        

Zero Coupon, 10/01/20 (k)

      2,948             2,505,979  

Cosan Luxembourg SA

        

7.00%, 1/20/27 (b)

      201          202,583  

Medco Platinum Road Pte Ltd.

        

6.75%, 1/30/25 (b)

      860          734,225  

Petrobras Global Finance BV

        

6.125%, 1/17/22

      33          33,776  

6.25%, 3/17/24

      2,143          2,173,002  

YPF SA

        

16.50%, 5/09/22 (b)

      ARS     17,395          298,666  
       

 

 

  
       6,687,966  
    

 

 

  

Technology - 0.1%

 

IHS Netherlands Holdco BV

 

9.50%, 10/27/21 (b)

      U.S.$       600          603,750  
       

 

 

  

Transportation - Airlines - 0.0%

 

Guanay Finance Ltd.

 

6.00%, 12/15/20 (b)

      294          294,344  
       

 

 

  

Transportation - Services - 0.1%

 

Rumo Luxembourg SARL