BlackRock Floating Rate Income Trust


Security		Shares		Value

Common Stocks — 0.1%

Auto Components — 0.0%
Lear Corp.			89	$	7,231


Energy Equipment & Services — 0.0%
McDermott International, Inc.^(a)			6,650		386


Health Care Management Services — 0.0%
New Millennium HoldCo, Inc.^(a)			9,191		506


Household Durables — 0.0%
Berkline Benchcraft Equity LLC^(a)(b)			6,155		—


Media — 0.0%
Clear Channel Outdoor Holdings, Inc.^(a)			72,096		46,141


Metals & Mining — 0.0%
Ameriforge Group, Inc.^(a)			832		41,600
Preferred Proppants LLC^(a)(b)			7,476		29,904

					71,504

Software — 0.0%
Avaya Holdings Corp.^(a)			40		324


Utilities — 0.1%
Texgen LLC^(a)			5,193		160,983


Total Common Stocks — 0.1% (Cost — $734,698)					287,075


		Par (000)

Asset-Backed Securities — 0.4%
ALM XIV Ltd., Series 2020-1A, Class A2, (3 mo. LIBOR US + 1.85%), 3.36%, 10/15/29^(c)(d)	USD		250		212,801
Gulf Stream Meridian Ltd., Series 2020-IA^(b)(c)(d):
Class A1, (3 mo. LIBOR US + 1.37%), 3.17%, 04/15/33			500		499,450
Class B, (3 mo. LIBOR US + 2.00%), 0.00%, 04/15/33			250		249,600


Total Asset-Backed Securities — 0.4% (Cost — $1,000,000)					961,851


Security		Par (000)		Value

Corporate Bonds — 1.1%

Aerospace & Defense — 0.3%
Wolverine Escrow LLC, 9.00%, 11/15/26^(c)	USD		960	$	780,000


Consumer Finance — 0.2%
Husky III Holding Ltd., (13.00% Cash or 13.00% PIK), 13.00%, 02/15/25^(c)(e)			561		412,043


Electric Utilities — 0.0%
Texas Competitive Electric Holdings Co. LLC/TCEH Finance, Inc.^(b):
Term Loan, 1.00%, 11/10/20^(a)(f)			1,050		—
11.50%, 10/01/20			654		—

					—

Household Products — 0.0%
Berkline Benchcraft LLC, 4.50%, 06/01/20^(a)(b)(f)			400		—


Media — 0.1%
Front Range BidCo, Inc., 6.13%, 03/01/28^(c)			175		166,250


Metals & Mining — 0.1%
Freeport-McMoRan, Inc., 3.88%, 03/15/23			375		354,375


Software — 0.4%
Castle US Holding Corp., 9.50%, 02/15/28^(c)			455		432,250
Infor US, Inc., 6.50%, 05/15/22			720		707,400

					1,139,650

Technology Hardware, Storage & Peripherals — 0.0%
Presidio Holdings, Inc., 8.25%, 02/01/28^(c)			76		66,975


Total Corporate Bonds — 1.1% (Cost — $3,297,617)					2,919,293


Floating Rate Loan Interests^(d) — 138.4%

Aerospace & Defense — 3.3%
Arconic Rolled Products Corp., Term Loan B, 02/04/27^(b)(g)			429		386,100
Bleriot US Bidco, Inc.,^(b):
Delayed Draw Term Loan, (PRIME + 3.75%), 7.00%, 10/31/26			81		71,124
Term Loan B, (3 mo. LIBOR + 4.75%), 6.20%, 10/31/26			517		455,190
Dynasty Acquisition Co., Inc., :
2020 CAD Term Loan B2, (3 mo. LIBOR + 3.50%), 4.95%, 04/06/26			1,591		1,258,620
2020 Term Loan B1, (3 mo. LIBOR + 3.50%), 4.95%, 04/06/26			2,959		2,341,032


Security		Par (000)		Value

Aerospace & Defense (continued)
Nordam Group, Inc., Term Loan B, (1 mo. LIBOR + 5.50%), 6.44%, 04/09/26^(b)	USD		467	$	360,714
TransDigm, Inc., :
2020 Term Loan F, (1 mo. LIBOR + 2.25%), 3.24%, 12/09/25			3,841		3,485,542
2020 Term Loan G, (1 mo. LIBOR + 2.25%), 3.24%, 08/22/24			471		436,514

					8,794,836

Air Freight & Logistics — 0.6%
WestJet Airlines Ltd., Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 12/11/26			1,971		1,498,006


Airlines — 0.6%
American Airlines, Inc., :
2017 1st Lien Term Loan, (1 mo. LIBOR + 1.75%), 2.69%, 01/29/27			243		197,047
2017 Incremental Term Loan, (1 mo. LIBOR + 2.00%), 2.70%, 12/14/23			1,131		887,453
Repriced TL B due 2023, (1 mo. LIBOR + 2.00%), 2.94%, 04/28/23			665		537,353

					1,621,853

Auto Components — 2.9%
Dealer Tire, LLC, 2020 Term Loan B, (1 mo. LIBOR + 4.25%), 5.24%, 12/12/25			1,458		1,181,259
Panther BF Aggregator 2 LP, USD Term Loan B, (1 mo. LIBOR + 3.50%), 4.44%, 04/30/26^(b)			4,005		3,644,334
USI, Inc., :
2017 Repriced Term Loan, (3 mo. LIBOR + 3.00%), 3.99%, 05/16/24			2,379		2,165,172
2019 Incremental Term Loan B, (1 mo. LIBOR + 4.00%), 4.99%, 12/02/26			136		121,189


Security		Par (000)		Value

Auto Components (continued)
Wand NewCo 3, Inc., 2020 Term Loan, (6 mo. LIBOR + 3.00%), 4.07%, 02/05/26	USD		581	$	517,227

					7,629,181

Banks — 0.7%
Capri Finance LLC, 2017 1st Lien Term Loan, (3 mo. LIBOR + 3.00%), 4.78%, 11/01/24			2,051		1,758,987


Building Materials — 0.9%
Allied Universal Holdco LLC, 2019 Term Loan B, (1 mo. LIBOR + 4.25%), 5.24%, 07/12/26			2,441		2,306,303


Building Products — 1.0%
CPG International, Inc., 2017 Term Loan, 05/05/24^(g)			1,045		866,562
Wilsonart LLC, 2017 Term Loan B, (3 mo. LIBOR + 3.25%, 1.00% Floor), 4.71%, 12/19/23^(b)			2,116		1,692,409

					2,558,971

Capital Markets — 2.2%
Duff & Phelps Corp., 2017 Term Loan B, (1 mo. LIBOR + 3.25%, 1.00% Floor), 4.25%, 02/13/25^(b)			2,154		2,110,790
Fortress Investment Group LLC, 2018 Term Loan B, (1 mo. LIBOR + 2.00%), 2.99%, 12/27/22			571		546,286
Greenhill & Co., Inc., Term Loan B, (1 mo. LIBOR + 3.25%), 3.86%, 04/12/24^(b)			779		677,996
Jefferies Finance LLC, 2019 Term Loan, (1 mo. LIBOR + 3.25%), 4.25%, 06/03/26			1,472		1,216,670
Travelport Finance (Luxembourg) Sarl, :
2019 2nd Lien Term Loan, (3 mo. LIBOR + 9.00%), 10.07%, 05/28/27			705		223,252
2019 Term Loan, (3 mo. LIBOR + 5.00%), 6.07%, 05/29/26			1,620		1,037,885

					5,812,879

Chemicals — 4.7%
Alpha 3 BV, 2017 Term Loan B1, (3 mo. LIBOR + 3.00%, 1.00% Floor), 4.45%, 01/31/24^(b)			2,088		1,900,094
Ascend Performance Materials Operations LLC, 2019 Term Loan B, (3 mo. LIBOR + 5.25%, 1.00% Floor), 6.70%, 08/27/26^(b)			1,602		1,346,037


Security		Par (000)			Value

Chemicals (continued)
Axalta Coating Systems US Holdings, Inc., Term Loan, (3 mo. LIBOR + 1.75%), 3.20%, 06/01/24^(b)	USD		1,163		$	1,087,348
Charter NEX US Holdings, Inc., 2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 05/16/24			1,770			1,495,957
Charter NEX US, Inc., Incremental Term Loan, (1 mo. LIBOR + 3.50%), 4.49%, 05/16/24			382			330,602
Chemours Co., 2018 Term Loan B, (1 mo. LIBOR + 1.75%), 2.74%, 04/03/25^(b)			406			369,633
Element Materials Technology Group US Holdings, Inc., 2017 Term Loan B, 06/28/24^(g)			726			614,726
Encapsys LLC, 2020 Term Loan B2, (1 mo. LIBOR + 3.25%, 1.00% Floor), 4.25%, 11/07/24^(b)			770			600,878
Invictus US LLC, :
1st Lien Term Loan, (6 mo. LIBOR + 3.00%), 4.78%, 03/28/25			648			500,769
2nd Lien Term Loan, (6 mo. LIBOR + 6.75%), 8.53%, 03/30/26^(b)			265			185,500
Messer Industries GmbH, 2018 USD Term Loan, (3 mo. LIBOR + 2.50%), 3.95%, 03/02/26			1,781			1,574,211
Momentive Performance Materials, Inc., Term Loan B, (1 mo. LIBOR + 3.25%), 4.24%, 05/15/24			651			523,240
Oxea Holding Drei GmbH, 2017 Term Loan B2, (1 mo. LIBOR + 3.50%), 4.94%, 10/14/24			2,072			1,688,830
Tata Chemicals North America, Inc., Term Loan B, (1 mo. LIBOR + 2.75%, 1.00% Floor), 4.38%, 08/07/20			254			229,788

						12,447,613

Commercial Services & Supplies — 6.0%
Advanced Disposal Services, Inc., Term Loan B3, (1 Week LIBOR + 2.25%), 2.89%, 11/10/23			1,868			1,841,590
Aramark Services, Inc., :
2018 Term Loan B3, (1 mo. LIBOR + 1.75%), 2.74%, 03/11/25			169			156,745
2019 Term Loan B4, (1 mo. LIBOR + 1.75%), 2.74%, 01/15/27^(b)			386			357,050
Asurion LLC, :
2017 2nd Lien Term Loan, (1 mo. LIBOR + 6.50%), 7.49%, 08/04/25			1,166			1,062,518
2017 Term Loan B4, (1 mo. LIBOR + 3.00%), 3.99%, 08/04/22			—	^(h)		115


Security		Par (000)		Value

Commercial Services & Supplies (continued)
2018 Term Loan B6, (1 mo. LIBOR + 3.00%), 3.99%, 11/03/23	USD		1,809	$	1,718,989
2018 Term Loan B7, (1 mo. LIBOR + 3.00%), 3.99%, 11/03/24^(b)			710		671,278
Creative Artists Agency LLC, 2019 Term Loan B, (1 mo. LIBOR + 3.75%), 4.74%, 11/26/26			2,136		1,847,335
Diamond (BC) BV, Term Loan, (3 mo. LIBOR + 3.00%), 4.78%, 09/06/24			858		634,727
EnergySolutions LLC, 2018 Term Loan B, (3 mo. LIBOR + 3.75%, 1.00% Floor), 5.20%, 05/09/25^(b)			353		303,337
GFL Environmental, Inc., 2018 USD Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 05/30/25			291		280,900
Harland Clarke Holdings Corp., Term Loan B7, (3 mo. LIBOR + 4.75%, 1.00% Floor), 6.46%, 11/03/23			288		173,320
KAR Auction Services, Inc., 2019 Term Loan B6, (1 mo. LIBOR + 2.25%), 3.19%, 09/19/26^(b)			615		565,672
Prime Security Services Borrower LLC, 2019 Term Loan B1, (1 mo. LIBOR + 3.25%, 1.00% Floor), 4.61%, 09/23/26			1,373		1,225,956
Verscend Holding Corp., 2018 Term Loan B, (1 mo. LIBOR + 4.50%), 5.49%, 08/27/25^(b)			3,669		3,448,546
West Corp., 2017 Term Loan, (3 mo. LIBOR + 4.00%, 1.00% Floor), 5.45%, 10/10/24			1,974		1,472,289

					15,760,367

Communications Equipment — 0.3%
Avantor, Inc., 2017 1st Lien Term Loan, (1 mo. LIBOR + 2.25%, 1.00% Floor), 3.25%, 11/21/24			873		820,818


Construction & Engineering — 1.2%
Brand Energy & Infrastructure Services, Inc., 2017 Term Loan, (3 mo. LIBOR + 4.25%, 1.00% Floor), 6.06%, 06/21/24			1,888		1,500,769
Ply Gem Midco, Inc., 2018 Term Loan, (1 mo. LIBOR + 3.75%), 4.56%, 04/12/25			266		224,719
SRS Distribution, Inc., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.00%), 3.99%, 05/23/25			1,396		1,176,334


Security		Par (000)		Value

Construction & Engineering (continued)
USIC Holdings, Inc., 2017 Term Loan B, (1 mo. LIBOR + 3.25%, 1.00% Floor), 4.25%, 12/08/23	USD		206	$	172,962

					3,074,784

Construction Materials — 2.8%
American Builders & Contractors Supply Co., Inc., 2019 Term Loan, (1 mo. LIBOR + 2.00%), 2.99%, 01/15/27^(b)			1,456		1,368,473
Core & Main LP, 2017 Term Loan B, (1 mo. LIBOR + 2.75%, 1.00% Floor), 4.33%, 08/01/24			3,092		2,713,569
Filtration Group Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.00%), 3.99%, 03/29/25			1,912		1,651,445
Forterra Finance LLC, 2017 Term Loan B, 10/25/23^(g)			996		819,854
Foundation Building Materials LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.00%), 3.99%, 08/13/25			491		423,719
Tamko Building Products, Inc., Term Loan B, (1 mo. LIBOR + 3.25%), 4.24%, 05/29/26^(b)			448		416,519

					7,393,579

Containers & Packaging — 2.4%
Berry Global, Inc., :
2019 Term Loan Y, (1 mo. LIBOR + 2.00%), 2.86%, 07/01/26			965		912,367
Term Loan W, (3 mo. LIBOR + 2.00%), 2.86%, 10/01/22			2,946		2,804,412
BWAY Holding Co., 2017 Term Loan B, (3 mo. LIBOR + 3.25%), 5.08%, 04/03/24			1,513		1,226,179
Flex Acquisition Co., Inc., 1st Lien Term Loan, (3 mo. LIBOR + 3.00%, 1.00% Floor), 4.58%, 12/29/23^(b)			1,102		997,434
Pregis TopCo Corp., 1st Lien Term Loan, (1 mo. LIBOR + 4.00%), 4.99%, 08/01/26^(b)			518		447,813

					6,388,205

Distributors — 0.5%
TriMark USA LLC, 2017 1st Lien Term Loan, 08/28/24^(g)			1,939		1,207,076


Diversified Consumer Services — 4.3%
Amentum Government Services Holdings LLC, Term Loan B, (1 mo. LIBOR + 4.00%), 4.99%, 02/01/27			344		316,480
APX Group, Inc., 2020 Term Loan, (2 mo. LIBOR + 5.00%), 6.70%, 12/31/25			240		196,556


Security		Par (000)		Value

Diversified Consumer Services (continued)
Ascend Learning LLC, 2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 07/12/24	USD		973	$	862,624
BidFair MergerRight, Inc., Term Loan B, (1 mo. LIBOR + 5.50%, 1.00% Floor), 6.50%, 01/15/27			1,884		1,447,275
Bright Horizons Family Solutions, Inc., 2017 Term Loan B, (1 mo. LIBOR + 1.75%), 2.74%, 11/07/23			951		901,109
Genuine Financial Holdings LLC, 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 4.74%, 07/11/25			1,802		1,468,745
Nomad Foods Europe Midco Ltd., 2017 Term Loan B4, (1 mo. LIBOR + 2.25%), 2.95%, 05/15/24			708		637,190
Serta Simmons Bedding LLC, :
1st Lien Term Loan, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 11/08/23			581		228,212
2nd Lien Term Loan, (1 mo. LIBOR + 8.00%, 1.00% Floor), 9.00%, 11/08/24			79		17,359
Spin Holdco, Inc., 2017 Term Loan B, (3 mo. LIBOR + 3.25%, 1.00% Floor), 5.09%, 11/14/22			2,911		2,583,488
TruGreen LP, 2019 Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 03/19/26			1,384		1,252,340
Uber Technologies, Inc., 2018 Incremental Term Loan, (1 mo. LIBOR + 3.50%), 4.49%, 07/13/23			1,647		1,528,751

					11,440,129

Diversified Financial Services — 4.7%
Advisor Group, Inc., 2019 Term Loan, (1 mo. LIBOR + 5.00%), 5.99%, 08/01/26			1,927		1,386,083
AlixPartners LLP, 2017 Term Loan B, 04/04/24^(g)			2,727		2,597,882
Allsup’s Convenience Stores, Inc., Term Loan, (1 mo. LIBOR + 6.25%), 7.18%, 11/18/24			660		537,759
Deerfield Dakota Holding LLC, 2020 USD Term Loan B, 03/05/27^(b)(g)			1,580		1,327,357
EG Finco Ltd., 2018 Term Loan, (6 mo. LIBOR + 4.00%), 5.07%, 02/07/25			723		523,929
Kingpin Intermediate Holdings LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 07/03/24			1,053		712,005
Knowlton Development Corp., Inc., 2020 Term Loan B, 12/22/25^(g)			1,339		1,133,790


Security		Par (000)		Value

Diversified Financial Services (continued)
LTI Holdings, Inc., 2018 Add On 1st Lien Term Loan, (1 mo. LIBOR + 3.50%), 4.49%, 09/06/25	USD		353	$	258,316
SMG US Midco 2, Inc., 2020 Term Loan, (3 mo. LIBOR + 2.50%), 3.43%, 01/23/25			966		813,793
SSH Group Holdings, Inc., 2018 1st Lien Term Loan, (3 mo. LIBOR + 4.25%), 5.70%, 07/30/25^(b)			788		653,843
Starwood Property Trust, Inc., 2019 Term Loan B, (1 mo. LIBOR + 2.50%), 3.49%, 07/26/26^(b)			375		326,350
VS Buyer LLC, Term Loan B, (3 mo. LIBOR + 3.25%), 4.86%, 02/28/27^(b)			1,320		1,260,600
Ziggo Financing Partnership, USD Term Loan I, (1 mo. LIBOR + 2.50%), 3.20%, 04/30/28^(b)			1,003		942,820

					12,474,527

Diversified Telecommunication Services — 4.6%
Hargray Communications Group, Inc., 2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 05/16/24			892		769,912
Level 3 Financing, Inc., 2019 Term Loan B, (1 mo. LIBOR + 1.75%), 2.74%, 03/01/27			1,183		1,100,043
MTN Infrastructure TopCo, Inc., 1st Lien Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 11/15/24			1,359		1,188,959
TDC A/S, Term Loan, (1 mo. EURIBOR + 3.00%), 3.00%, 06/04/25	EUR		819		844,985
Virgin Media Investment Holdings Ltd., Term Loan L, (LIBOR - GBP + 3.25%), 3.50%, 01/15/27	GBP		600		667,939
Zayo Group Holdings, Inc., USD Term Loan, 03/09/27^(b)(g)	USD		8,041		7,558,886

					12,130,724

Electric Utilities — 0.0%
Vistra Energy Corp., 1st Lien Term Loan B3, (1 mo. LIBOR + 1.75%), 2.74%, 12/31/25			3		2,295


Electrical Equipment — 0.8%
Gates Global LLC, 2017 Repriced Term Loan B, (1 mo. LIBOR + 2.75%, 1.00% Floor), 3.75%, 04/01/24			2,361		2,034,764


Energy Equipment & Services — 0.5%
GrafTech Finance, Inc., 2018 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 02/12/25^(b)			989		850,148


Security		Par (000)		Value

Energy Equipment & Services (continued)
Pioneer Energy Services Corp., Term Loan, (1 mo. LIBOR + 7.75%, 1.00% Floor), 9.35%, 11/08/22^(b)	USD		520	$	488,800

					1,338,948

Equity Real Estate Investment Trusts (REITs) — 2.3%
Claros Mortgage Trust, Inc., Term Loan B, (1 mo. LIBOR + 3.25%), 4.26%, 08/09/26^(b)			992		765,771
Cushman & Wakefield U.S. Borrower LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.75%), 3.74%, 08/21/25			1,919		1,674,681
Iron Mountain, Inc., 2018 Term Loan B, (1 mo. LIBOR + 1.75%), 2.74%, 01/02/26			606		569,236
RHP Hotel Properties LP, 2017 Term Loan B, (1 mo. LIBOR + 2.00%), 2.99%, 05/11/24			647		572,418
VICI Properties 1 LLC, Replacement Term Loan B, (1 mo. LIBOR + 1.75%), 2.67%, 12/20/24			2,668		2,444,399

					6,026,505

Food & Staples Retailing — 1.6%
BCPE Empire Holdings, Inc., :
2019 Delayed Draw Term Loan, (1 mo. LIBOR + 4.00%), 4.99%, 06/11/26			102		90,109
2019 Term Loan B, (1 mo. LIBOR + 4.00%), 4.99%, 06/11/26			652		573,393
Hearthside Food Solutions LLC, :
2018 Incremental Term Loan, (1 mo. LIBOR + 4.00%), 4.99%, 05/23/25			1,285		1,087,094
2018 Term Loan B, (1 mo. LIBOR + 3.69%), 4.68%, 05/23/25			525		435,886
US Foods, Inc., :
2016 Term Loan B, (1 mo. LIBOR + 1.75%), 2.82%, 06/27/23			1,631		1,502,966
2019 Term Loan B, (6 mo. LIBOR + 2.00%), 3.07%, 09/13/26			575		522,193

					4,211,641

Food Products — 3.7%
8th Avenue Food & Provisions, Inc., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.50%), 4.30%, 10/01/25			406		370,322
B&G Foods, Inc., 2019 Term Loan B4, 10/10/26^(g)			110		101,652
Chobani LLC, 2017 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 10/10/23			2,630		2,334,234


Security	Par (000)		Value

Food Products (continued)
Froneri International Ltd.,^(b):
2020 USD 2nd Lien Term Loan, (6 mo. LIBOR + 5.75%), 6.74%, 01/29/28		USD 139	$	125,100
2020 USD Term Loan, (1 mo. LIBOR + 2.25%), 3.24%, 01/29/27		3,230		3,060,425
Hostess Brands LLC, 2019 Term Loan, (3 mo. LIBOR + 2.25%), 4.03%, 08/03/25		106		98,050
JBS USA LUX SA, 2019 Term Loan B, (6 mo. LIBOR + 2.00%), 3.07%, 05/01/26		322		300,014
Reynolds Group Holdings, Inc., 2017 Term Loan, (1 mo. LIBOR + 2.75%), 3.74%, 02/05/23^(b)		3,687		3,475,139

				9,864,936

Health Care Equipment & Supplies — 2.5%
Immucor, Inc., Extended Term Loan B, (3 mo. LIBOR + 5.00%, 1.00% Floor), 6.45%, 06/15/21		3,240		2,777,610
Mallinckrodt International Finance SA, Term Loan B, (3 mo. LIBOR + 2.75%), 4.20%, 09/24/24		493		331,223
Ortho-Clinical Diagnostics SA, 2018 Term Loan B, (1 mo. LIBOR + 3.25%), 4.77%, 06/30/25		4,270		3,613,862

				6,722,695

Health Care Providers & Services — 3.4%
AHP Health Partners, Inc., 2018 Term Loan, (1 mo. LIBOR + 4.50%, 1.00% Floor), 5.50%, 06/30/25		491		431,271
CHG Healthcare Services, Inc., 2017 1st Lien Term Loan B, (3 mo. LIBOR + 3.00%, 1.00% Floor), 4.45%, 06/07/23		1,180		1,042,296
Da Vinci Purchaser Corp., 2019 Term Loan, (3 mo. LIBOR + 4.00%, 1.00% Floor), 5.87%, 01/08/27^(b)		600		564,000
DentalCorp Perfect Smile ULC, 1st Lien Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 06/06/25		436		336,786
Envision Healthcare Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 4.74%, 10/10/25		1,353		683,403
EyeCare Partners LLC, :
2020 Delayed Draw Term Loan, (3 mo. LIBOR + 0.50%), 0.50%, 02/18/27		—		—
2020 Term Loan, (3 mo. LIBOR + 3.75%), 4.82%, 02/18/27		861		688,880


Security	Par (000)		Value

Health Care Providers & Services (continued)
EyeCare Partners, LLC, 2020 2nd Lien Term Loan, (3 mo. LIBOR + 8.25%), 9.14%, 02/04/28^(b)		USD 780	$	663,000
Gentiva Health Services, Inc., 2020 Term Loan, (1 mo. LIBOR + 3.25%), 4.25%, 07/02/25^(b)		1,463		1,367,825
HC Group Holdings II, Inc., Term Loan B, (1 mo. LIBOR + 4.50%), 5.49%, 08/06/26		1,425		1,168,851
MPH Acquisition Holdings LLC, 2016 Term Loan B, (3 mo. LIBOR + 2.75%, 1.00% Floor), 4.20%, 06/07/23		732		644,838
nThrive, Inc., 2016 1st Lien Term Loan, (1 mo. LIBOR + 4.50%, 1.00% Floor), 5.50%, 10/20/22		1,077		896,712
Team Health Holdings, Inc., 1st Lien Term Loan, (1 mo. LIBOR + 2.75%, 1.00% Floor), 3.75%, 02/06/24		949		593,134

				9,080,996

Health Care Services — 1.1%
Emerald TopCo., Inc., Term Loan, (1 mo. LIBOR + 3.50%), 4.49%, 07/25/26^(b)		1,302		1,184,905
WP CityMD Bidco LLC, 2019 Term Loan B, (3 mo. LIBOR + 4.50%, 1.00% Floor), 5.95%, 08/13/26		1,847		1,637,273

				2,822,178

Health Care Technology — 1.9%
Athenahealth, Inc., 2019 Term Loan B, (3 mo. LIBOR + 4.50%), 5.28%, 02/11/26^(b)		2,295		2,134,689
Change Healthcare Holdings, Inc., 2017 Term Loan B, (1 mo. LIBOR + 2.50%, 1.00% Floor), 3.50%, 03/01/24^(b)		2,233		2,099,339
GoodRx, Inc., 1st Lien Term Loan, (1 mo. LIBOR + 2.75%), 3.74%, 10/10/25		648		601,920
Quintiles IMS, Inc., 2017 Term Loan B, (1 mo. LIBOR + 1.75%), 2.74%, 03/07/24		307		280,882

				5,116,830

Hotels, Restaurants & Leisure — 6.4%
1011778 B.C. Unlimited Liability Co., Term Loan B4, (1 mo. LIBOR + 1.75%), 2.74%, 11/19/26		1,923		1,769,488
Aimbridge Acquisition Co., Inc., 2019 Term Loan B, (3 mo. LIBOR + 3.75%), 5.02%, 02/02/26^(b)		269		187,986
Aristocrat Technologies, Inc., 2018 1st Lien Term Loan, (3 mo. LIBOR + 1.75%), 3.58%, 10/19/24		855		763,247


Security	Par (000)		Value

Hotels, Restaurants & Leisure (continued)
Boyd Gaming Corp., Term Loan B3, (1 Week LIBOR + 2.25%), 2.93%, 09/15/23		USD 714	$	614,489
Caesars Resort Collection LLC, 2017 1st Lien Term Loan B, (1 mo. LIBOR + 2.75%), 3.74%, 12/23/24		2,993		2,406,411
CCM Merger, Inc., Term Loan B, (1 mo. LIBOR + 2.25%), 3.24%, 08/06/21		811		717,578
Four Seasons Hotels Ltd., 1st Lien Term Loan, (1 mo. LIBOR + 2.00%), 2.99%, 11/30/23		1,049		944,142
Gateway Casinos & Entertainment Ltd., 2018 Term Loan B, (3 mo. LIBOR + 3.00%), 4.45%, 12/01/23		93		65,570
Golden Nugget LLC, 2017 Incremental Term Loan B, (3 mo. LIBOR + 2.50%), 3.70%, 10/04/23		1,201		930,766
IRB Holding Corp, 2020 Term Loan B, (1 mo. LIBOR + 2.75%, 1.00% Floor), 3.75%, 02/05/25		1,940		1,489,872
KFC Holding Co., 2018 Term Loan B, (1 mo. LIBOR + 1.75%), 2.36%, 04/03/25		869		818,857
Penn National Gaming, Inc., 2018 1st Lien Term Loan B, (1 mo. LIBOR + 2.25%), 3.24%, 10/15/25		365		273,377
Playa Resorts Holding BV, 2017 Term Loan B, (1 mo. LIBOR + 2.75%, 1.00% Floor), 3.75%, 04/29/24		497		336,907
Playtika Holding Corp., Term Loan B, (6 mo. LIBOR + 6.00%, 1.00% Floor), 7.07%, 12/10/24		922		855,984
Sabre GLBL, Inc., 2018 Term Loan B, (1 mo. LIBOR + 2.00%), 2.99%, 02/22/24		701		583,421
Scientific Games International, Inc., 2018 Term Loan B5, (1 mo. LIBOR + 2.75%), 4.37%, 08/14/24		972		780,795
Stars Group Holdings BV, 2018 USD Incremental Term Loan, (3 mo. LIBOR + 3.50%), 4.95%, 07/10/25		1,068		1,015,741
Station Casinos LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.25%), 3.24%, 02/07/27		1,071		907,646
Whatabrands LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.75%), 3.77%, 08/02/26		1,491		1,223,347


Security	Par (000)		Value

Hotels, Restaurants & Leisure (continued)
Wyndham Hotels & Resorts, Inc., Term Loan B, (1 mo. LIBOR + 1.75%), 2.74%, 05/30/25		USD 346	$	301,919

				16,987,543

Household Durables — 0.4%
Reynolds Consumer Products LLC, Term Loan, (3 mo. LIBOR + 1.75%), 3.50%, 02/04/27		1,086		1,017,582


Independent Power and Renewable Electricity Producers — 1.0%
Calpine Construction Finance Co. LP, 2017 Term Loan B, (1 mo. LIBOR + 2.00%), 2.99%, 01/15/25		146		136,064
Calpine Corp., :
2019 Term Loan B10, (1 mo. LIBOR + 2.00%), 2.99%, 08/12/26^(b)		479		450,591
Term Loan B9, (1 mo. LIBOR + 2.25%), 3.24%, 04/06/26		2,250		2,131,826

				2,718,481

Industrial Conglomerates — 2.0%
Sequa Mezzanine Holdings LLC, 1st Lien Term Loan, (3 mo. LIBOR + 5.00%, 1.00% Floor), 6.74%, 11/28/21		978		779,834
Vertiv Group Corp., Term Loan B, 03/02/27^(b)(g)		5,196		4,468,560

				5,248,394

Insurance — 4.7%
Alliant Holdings I, Inc., 2018 Term Loan B, (1 mo. LIBOR + 3.00%), 05/09/25^(g)		2,312		2,094,634
Alliant Holdings Intermediate LLC, Term Loan B, (1 mo. LIBOR + 3.25%), 3.86%, 05/09/25		643		583,501
AmWINS Group, Inc., 2017 Term Loan B, (1 mo. LIBOR + 2.75%, 1.00% Floor), 3.75%, 01/25/24		1,751		1,612,716
AssuredPartners, Inc., 2020 Term Loan B, (1 mo. LIBOR + 3.50%), 4.49%, 02/13/27		1,742		1,511,149
Davis Vision, Inc., 1st Lien Term Loan B, (3 mo. LIBOR + 3.00%, 1.00% Floor), 4.45%, 12/02/24		582		488,123
Hub International Ltd., :
2018 Term Loan B, (2 mo. LIBOR + 2.75%), 4.55%, 04/25/25		1,951		1,812,776
2019 Incremental Term Loan B, (3 mo. LIBOR + 4.00%, 1.00% Floor), 5.69%, 04/25/25		550		515,214


Security	Par (000)		Value

Insurance (continued)
Sedgwick Claims Management Services, Inc., :
2019 Term Loan B, (1 mo. LIBOR + 4.00%), 4.99%, 09/03/26	USD	1,124	$	1,007,688
Term Loan B, (1 mo. LIBOR + 3.25%), 4.24%, 12/31/25		3,047		2,678,852

				12,304,653

Interactive Media & Services — 1.6%
Ancestry.com Operations Inc., 2019 Extended Term Loan B, (1 mo. LIBOR + 4.25%), 5.24%, 08/27/26		494		390,067
Ancestry.com Operations, Inc., Non-Extended Term Loan B, (1 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 10/19/23 ^(b)		2,024		1,740,867
Rackspace Hosting, Inc., 2017 Incremental 1st Lien Term Loan, (3 mo. LIBOR + 3.00%, 1.00% Floor), 4.76%, 11/03/23		328		284,139
TierPoint LLC, 2017 1st Lien Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 05/06/24		770		673,543
ZPG PLC, 2018 Term Loan B, (LIBOR - GBP + 4.50%), 4.74%, 07/23/25	GBP	1,000		1,018,522

				4,107,138

IT Services — 5.2%
Altran Technologies SA, 1st Lien Term Loan, (1 mo. LIBOR + 2.50%), 3.27%, 03/20/25	USD	407		372,060
Camelot U.S. Acquisition 1 Co., Term Loan B, 10/31/26^(b)(g)		2,291		2,153,371
Epicor Software Corp., 1st Lien Term Loan, (1 mo. LIBOR + 3.25%, 1.00% Floor), 4.25%, 06/01/22		1,608		1,463,131
Evertec Group LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.50%), 4.49%, 11/27/24		537		455,084
Flexential Intermediate Corp., 2nd Lien Term Loan, (3 mo. LIBOR + 7.25%, 1.00% Floor), 8.71%, 08/01/25		605		228,890
Greeneden US Holdings II LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.25%), 4.24%, 12/01/23^(b⁾		1,349		1,255,020
Presidio, Inc., 2020 Term Loan B, (3 mo. LIBOR + 3.50%), 5.28%, 01/22/27^(b)		522		485,460
PUG LLC, USD Term Loan, (1 mo. LIBOR + 3.50%), 4.49%, 01/29/27^(b)		2,553		2,252,669
Trans Union LLC, 2019 Term Loan B5, (1 mo. LIBOR + 1.75%), 2.74%, 11/16/26		2,630		2,510,034


Security	Par (000)		Value

IT Services (continued)
WEX, Inc., Term Loan B3, (1 mo. LIBOR + 2.25%), 3.24%, 05/15/26		USD 2,828	$	2,437,712

				13,613,431

Leisure Products — 0.2%
MND Holdings III Corp., 2018 1st Lien Term Loan, (3 mo. LIBOR + 3.50%, 1.00% Floor), 4.95%, 06/19/24^(b)		628		476,997


Life Sciences Tools & Services — 2.4%
Albany Molecular Research, Inc., :
2017 1st Lien Term Loan, (1 mo. LIBOR + 3.25%, 1.00% Floor), 4.25%, 08/30/24		173		149,004
2017 2nd Lien Term Loan, (1 mo. LIBOR + 7.00%, 1.00% Floor), 8.00%, 08/30/25		240		168,000
eResearchTechnology, Inc., 2020 1st Lien Term Loan, (3 mo. LIBOR + 4.50%, 1.00% Floor), 5.95%, 02/04/27		1,336		1,162,320
Sotera Health Holdings LLC, 2019 Term Loan, (1 mo. LIBOR + 4.50%, 1.00% Floor), 5.50%, 12/11/26		5,459		4,727,504

				6,206,828

Machinery — 2.0%
Clark Equipment Co., 2019 Term Loan B, (3 mo. LIBOR + 1.75%), 3.20%, 05/18/24		364		324,942
Columbus McKinnon Corp., 2018 Term Loan B, (3 mo. LIBOR + 2.50%, 1.00% Floor), 3.95%, 01/31/24^(b)		83		72,657
Ingersoll-Rand Global Holding Co. Ltd., 2020 USD Spinco Term Loan, 02/28/27^(g)		1,417		1,324,895
Terex Corp., 2019 Term Loan B1, (1 mo. LIBOR + 2.75%), 3.74%, 01/31/24^(b)		198		180,180
Titan Acquisition Ltd., 2018 Term Loan B, (3 mo. LIBOR + 3.00%), 4.45%, 03/28/25		4,184		3,410,358

				5,313,032

Media — 12.1%
Altice Financing SA, :
2017 1st Lien Term Loan, (1 mo. LIBOR + 2.75%), 3.67%, 01/31/26		422		382,816
2017 Term Loan B, (2 mo. LIBOR + 2.75%), 4.41%, 07/15/25		164		148,208
Altice France SA, :
2018 Term Loan B13, (1 mo. LIBOR + 4.00%), 4.70%, 08/14/26		2,191		2,076,031


Security	Par (000)		Value

Media (continued)
USD Term Loan B12, (1 mo. LIBOR + 3.69%), 4.39%, 01/31/26		USD 330	$	307,267
Charter Communications Operating LLC, 2019 Term Loan B1, (1 mo. LIBOR + 1.75%), 2.74%, 04/30/25		2,743		2,624,827
Clear Channel Outdoor Holdings, Inc., Term Loan B, (1 mo. LIBOR + 3.50%), 4.49%, 08/21/26^(b)		4,467		3,751,906
Connect Finco Sarl, Term Loan B, (3 mo. LIBOR + 0.37%), 0.38%, 12/12/26		7,104		5,559,091
CSC Holdings LLC, :
2017 1st Lien Term Loan, (1 mo. LIBOR + 2.25%), 2.86%, 07/17/25		826		786,484
2019 Term Loan B5, (1 mo. LIBOR + 2.50%), 3.11%, 04/15/27		1,032		983,777
Diamond Sports Group LLC, Term Loan, (1 mo. LIBOR + 3.25%), 4.18%, 08/24/26^(b)		595		458,119
Gray Television, Inc., :
2017 Term Loan B, (1 mo. LIBOR + 2.25%), 3.77%, 02/07/24		371		345,896
2018 Term Loan C, (1 mo. LIBOR + 2.50%), 4.02%, 01/02/26		503		465,943
Intelsat Jackson Holdings SA, 2017 Term Loan B3, (6 mo. LIBOR + 3.75%, 1.00% Floor), 5.68%, 11/27/23		245		223,256
Learfield Communications LLC, 2016 1st Lien Term Loan, (1 mo. LIBOR + 3.25%, 1.00% Floor), 4.25%, 12/01/23		2,611		1,706,116
Liberty Latin America Ltd., Term Loan B, (3 mo. LIBOR + 5.00%), 5.70%, 10/15/26		799		732,084
Lions Gate Capital Holdings LLC, 2018 Term Loan B, (1 mo. LIBOR + 2.25%), 3.24%, 03/24/25		845		756,270
MCC Iowa LLC, Term Loan N, (1 Week LIBOR + 1.75%), 2.37%, 02/15/24^(b)		327		313,731
MH Sub I LLC, 2017 1st Lien Term Loan, (6 mo. LIBOR + 3.75%), 4.82%, 09/13/24		1,458		1,226,263
Midcontinent Communications, 2019 Term Loan B, (3 mo. LIBOR + 1.75%), 3.20%, 08/15/26		455		421,187
Nexstar Broadcasting, Inc., 2019 Term Loan B4, (1 mo. LIBOR + 2.75%), 4.33%, 09/19/26		922		854,880
PCI Gaming Authority, Term Loan, (1 mo. LIBOR + 2.50%), 3.49%, 05/29/26		814		659,323


Security	Par (000)		Value

Media (continued)
PSAV Holdings LLC, 2018 1st Lien Term Loan, (3 mo. LIBOR + 3.25%, 1.00% Floor), 322 - 4.70%, 03/03/25		USD 2,373	$	1,483,248
Radiate Holdco LLC, 1st Lien Term Loan, (1 mo. LIBOR + 3.00%), 3.99%, 02/01/24		1,266		1,160,789
Sinclair Television Group, Inc., Term Loan B2, (1 mo. LIBOR + 2.25%), 3.24%, 01/03/24^(b)		613		582,765
Terrier Media Buyer, Inc., Term Loan B, (3 mo. LIBOR + 4.25%), 5.70%, 12/17/26^(b)		503		443,544
Trader Corp., 2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 09/28/23^(b)		2,331		1,958,091
William Morris Endeavor Entertainment LLC, 2018 1st Lien Term Loan, (3 mo. LIBOR + 2.75%), 4.37%, 05/18/25		1,700		1,332,280

				31,744,192

Metals & Mining — 0.9%
Ball Metalpack LLC, 2018 1st Lien Term Loan B, (3 mo. LIBOR + 4.50%), 6.11%, 07/31/25		1,107		830,199
Equinox Holdings, Inc., 2017 1st Lien Term Loan, (6 mo. LIBOR + 3.00%, 1.00% Floor), 4.07%, 03/08/24		2,093		1,518,630

				2,348,829

Multiline Retail — 0.3%
Eyemart Express LLC, 2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 08/04/24^(b)		590		542,685
Neiman Marcus Group Ltd. LLC, Cash Pay Extended Term Loan, (1 mo. LIBOR + 6.00%), 7.50%, 10/25/23		589		231,659

				774,344

Oil & Gas Equipment & Services — 0.4%
McDermott Technology Americas, Inc., :
2018 1st Lien Term Loan, (PRIME + 4.00%), 7.25%, 05/12/25		1,062		300,931
2020 DIP New Money Term Loan, 10/23/20^(g)		420		379,131
2020 SP DIP Roll Up Term Loan, 10/22/20^(g)		486		438,755

				1,118,817

Oil, Gas & Consumable Fuels — 0.5%
California Resources Corp., Second Out Term Loan, (3 mo. LIBOR + 10.37%, 1.00% Floor), 11.99%, 12/31/21		1,073		50,580


Security	Par (000)		Value

Oil, Gas & Consumable Fuels (continued)
CONSOL Energy, Inc., 1st Lien Term Loan B, (1 mo. LIBOR + 4.50%, 1.00% Floor), 5.49%, 09/27/24		USD 337	$	219,807
Edgewater Generation LLC, Term Loan, (1 mo. LIBOR + 3.75%), 4.74%, 12/13/25		934		747,030
EG Group Ltd., 2018 Term Loan B, (6 mo. LIBOR + 4.00%), 5.07%, 02/07/25		485		351,698

				1,369,115

Personal Products — 0.5%
Sunshine Luxembourg VII Sarl, USD 1st Lien Term Loan, 09/25/26^(g⁾		1,512		1,352,016


Pharmaceuticals — 3.8%
Amneal Pharmaceuticals LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.50%), 4.50%, 05/04/25		1,229		1,044,738
Catalent Pharma Solutions, Inc., Term Loan B2, (1 mo. LIBOR + 2.25%, 1.00% Floor), 3.25%, 05/17/26⁽^b)		1,275		1,230,740
Elanco Animal Health Inc., Term Loan B, 02/04/27^(g)		260		246,004
Grifols Worldwide Operations USA, Inc., USD 2019 Term Loan B, (1 Week LIBOR + 2.00%), 2.68%, 11/15/27		1,349		1,271,646
Jaguar Holding Co. II, 2018 Term Loan, (1 mo. LIBOR + 2.50%, 1.00% Floor), 3.50%, 08/18/22		2,113		2,010,704
Valeant Pharmaceuticals International, Inc., 2018 Term Loan B, 06/02/25^(g)		4,314		4,082,356

				9,886,188

Professional Services — 1.8%
Cast and Crew Payroll LLC, :
2019 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 4.74%, 02/07/26		1,480		1,154,120
2020 Incremental Term Loan, 02/07/26^(b)(g)		194		149,380
Dun & Bradstreet Corp., Term Loan, (1 mo. LIBOR + 4.00%), 4.96%, 02/06/26		2,619		2,347,110
SIRVA Worldwide, Inc., 2018 1st Lien Term Loan, (3 mo. LIBOR + 5.50%), 7.28%, 08/04/25^(b)		776		558,883


Security	Par (000)		Value

Professional Services (continued)
STG-Fairway Holdings LLC, Term Loan B, (3 mo. LIBOR + 3.50%), 4.57%, 01/31/27		USD 777	$	652,680

				4,862,173

Real Estate Management & Development — 1.6%
CityCenter Holdings LLC, 2017 Term Loan B, (1 mo. LIBOR + 2.25%), 3.24%, 04/18/24		2,862		2,484,438
ESH Hospitality, Inc., 2019 Term Loan B, (1 mo. LIBOR + 2.00%), 2.99%, 09/18/26		479		422,335
Forest City Enterprises LP, 2019 Term Loan B, (1 mo. LIBOR + 3.50%), 4.49%, 12/08/25^(b)		1,290		1,096,224
Realogy Corp., 2018 Term Loan B, (1 mo. LIBOR + 2.25%), 3.83%, 02/08/25		126		106,438

				4,109,435

Road & Rail — 1.1%
Lineage Logistics Holdings LLC, 2018 Term Loan, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 02/27/25		2,027		1,879,555
Moda Ingleside Energy Center LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.25%), 4.24%, 09/25/25		447		332,428
Road Infrastructure Investment LLC, 2016 1st Lien Term Loan%, 06/13/23^(b)(g)		833		572,980

				2,784,963

Semiconductors & Semiconductor Equipment — 0.3%
Microchip Technology, Inc., 2018 Term Loan B, (1 mo. LIBOR + 2.00%), 2.99%, 05/29/25^(b)		528		507,343
ON Semiconductor Corp., 2019 Term Loan B, (1 mo. LIBOR + 2.00%), 2.99%, 09/19/26		394		368,769

				876,112

Software — 21.1%
Applied Systems, Inc., :
2017 1st Lien Term Loan, (3 mo. LIBOR + 3.25%, 1.00% Floor), 4.70%, 09/19/24		2,370		2,176,542
2017 2nd Lien Term Loan, (3 mo. LIBOR + 7.00%, 1.00% Floor), 8.45%, 09/19/25		449		404,292
BMC Software Finance, Inc., 2017 Term Loan, (1 mo. LIBOR + 4.25%), 5.24%, 10/02/25		1,135		936,263


Security		Par (000)		Value

Software (continued)
Castle US Holding Corp., USD Term Loan B, (1 mo. LIBOR + 3.75%), 5.20%, 01/31/27	USD		1,857	$	1,472,842
Cerence, Inc., Term Loan B, (1 mo. LIBOR + 6.00%, 1.00% Floor), 7.52%, 10/01/24			526		471,263
Cypress Intermediate Holdings III, Inc., 2017 1st Lien Term Loan, (1 mo. LIBOR + 2.75%, 1.00% Floor), 3.75%, 04/29/24			808		733,095
Digicel International Finance Ltd., 2017 Term Loan B, (3 mo. LIBOR + 3.25%), 4.87%, 05/27/24			720		557,063
DTI Holdco, Inc., 2018 Term Loan B, (3 mo. LIBOR + 4.75%, 1.00% Floor), 6.53%, 09/29/23			869		610,610
Ellie Mae, Inc., Term Loan, (3 mo. LIBOR + 3.75%), 5.20%, 04/17/26			2,416		2,104,713
Financial & Risk US Holdings, Inc., 2018 USD Term Loan, (1 mo. LIBOR + 3.25%), 4.24%, 10/01/25			3,810		3,641,916
Infor (US), Inc., Term Loan B6, (1 mo. LIBOR + 2.75%, 1.00% Floor), 3.75%, 02/01/22			4,401		4,218,419
Informatica LLC, :
2020 USD 2nd Lien Term Loan, (Fixed + 7.12%), 7.13%, 02/25/25^(b)			802		705,760
2020 USD Term Loan B, 02/25/27^(g)			4,734		4,078,751
Kronos, Inc., :
2017 Term Loan B, (3 mo. LIBOR + 3.00%, 1.00% Floor), 4.76%, 11/01/23			3,870		3,513,161
2nd Lien Term Loan, (3 mo. LIBOR + 8.25%, 1.00% Floor), 10.01%, 11/01/24			1,315		1,204,540
McAfee LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.75%), 4.69%, 09/30/24			1,882		1,756,774
Mitchell International, Inc., :
2017 1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 4.24%, 11/29/24			1,676		1,385,565
2017 2nd Lien Term Loan, (1 mo. LIBOR + 7.25%), 8.24%, 12/01/25			523		392,500
Renaissance Holding Corp., 2018 Add On Term Loan, (1 mo. LIBOR + 3.25%), 4.24%, 05/30/25			427		352,949
RP Crown Parent LLC, 2016 Term Loan B, (1 mo. LIBOR + 2.75%, 1.00% Floor), 3.75%, 10/12/23^(b)			2,037		1,935,297


Security		Par (000)		Value

Software (continued)
Severin Acquisition LLC, 2018 Term Loan B, 08/01/25^(g)	USD		2,200	$	1,880,765
SolarWinds Holdings, Inc., 2018 Term Loan B, (1 mo. LIBOR + 2.75%), 3.74%, 02/05/24			2,312		2,142,262
Solera LLC, Term Loan B, (3 mo. LIBOR + 2.75%), 4.36%, 03/03/23			2,189		2,041,009
Sophia LP, 2017 Term Loan B, (3 mo. LIBOR + 3.25%, 1.00% Floor), 4.70%, 09/30/22			3,171		3,004,618
SS&C Technologies Holdings Europe Sarl, 2018 Term Loan B4, (1 mo. LIBOR + 1.75%), 2.74%, 04/16/25			587		547,362
SS&C Technologies, Inc., :
2018 Term Loan B3, (1 mo. LIBOR + 1.75%), 2.74%, 04/16/25			823		767,160
2018 Term Loan B5, 04/16/25^(g)			1,169		1,091,080
Tempo Acquisition LLC, Term Loan, (1 mo. LIBOR + 2.75%), 3.74%, 05/01/24			2,927		2,604,752
Tibco Software Inc.,^(b):
2020 2nd Lien Term Loan, (1 mo. LIBOR + 7.25%), 8.24%, 03/04/28			1,825		1,697,250
2020 Term Loan B, (1 mo. LIBOR + 3.75%), 4.74%, 06/30/26			3,246		3,051,053
Ultimate Software Group, Inc., Term Loan B, (1 mo. LIBOR + 3.75%), 4.74%, 05/03/26			1,765		1,638,623
Vertafore, Inc., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 07/02/25^(g)			2,786		2,440,185

					55,558,434

Specialty Retail — 2.7%
Belron Finance US LLC,^(b):
2018 Term Loan B, (3 mo. LIBOR + 2.25%), 3.96%, 11/13/25			276		258,982
2019 USD Term Loan B, (3 mo. LIBOR + 2.50%), 4.27%, 10/30/26			673		632,914
Term Loan B, (3 mo. LIBOR + 2.25%), 3.99%, 11/07/24			1,476		1,387,463
CD&R Firefly Bidco Ltd., 2018 GBP Term Loan B1, (LIBOR - GBP + 4.50%), 5.26%, 06/23/25	GBP		1,000		993,680
IAA, Inc., Term Loan B, (1 mo. LIBOR + 2.25%, 1.00% Floor), 3.25%, 06/28/26^(b)	USD		506		480,650


Security		Par (000)		Value

Specialty Retail (continued)
MED ParentCo LP, :
1st Lien Delayed Draw Term Loan, (1 mo. LIBOR + 4.25%), 5.18%, 08/31/26	USD		143	$	118,348
1st Lien Term Loan, (1 mo. LIBOR + 4.25%), 5.24%, 08/31/26			816		674,520
Midas Intermediate Holdco II LLC, Incremental Term Loan B, (3 mo. LIBOR + 2.75%, 1.00% Floor), 4.02%, 08/18/21			758		588,546
PetSmart, Inc., Term Loan B2, (6 mo. LIBOR + 4.00%, 1.00% Floor), 5.00%, 03/11/22			1,442		1,379,314
Research Now Group, Inc., 2017 1st Lien Term Loan, (3 mo. LIBOR + 5.50%, 1.00% Floor), 7.26%, 12/20/24^(b)			762		670,956

					7,185,373

Technology Hardware, Storage & Peripherals — 0.8%
Electronics for Imaging, Inc., Term Loan, 07/23/26^(g)			868		706,133
Western Digital Corp., 2018 Term Loan B4, (3 mo. LIBOR + 1.75%), 3.35%, 04/29/23^(b)			1,353		1,298,888

					2,005,021

Thrifts & Mortgage Finance — 0.6%
IG Investment Holdings LLC, 2018 1st Lien Term Loan, (3 mo. LIBOR + 4.00%, 1.00% Floor), 5.45%, 05/23/25			1,955		1,543,403


Trading Companies & Distributors — 0.8%
HD Supply, Inc., Term Loan B5, (1 mo. LIBOR + 1.75%), 2.74%, 10/17/23			2,390		2,216,554


Utilities — 0.5%
ExGen Renewables IV LLC, Term Loan B, (3 mo. LIBOR + 3.00%, 1.00% Floor), 4.62%, 11/28/24			1,358		1,215,646


Wireless Telecommunication Services — 1.2%
Geo Group, Inc., 2018 Term Loan B, (1 mo. LIBOR + 2.00%), 2.99%, 03/22/24			639		520,762
Ligado Networks LLC, PIK Exit Term Loan (12.20% Cash or 9.75% PIK), 12.20%, 12/07/20^(b)(e)			302		180,944


Security		Par (000)		Value

Wireless Telecommunication Services (continued)
SBA Senior Finance II LLC, 2018 Term Loan B, (1 mo. LIBOR + 1.75%), 2.74%, 04/11/25	USD		2,595	$	2,447,140

					3,148,846


Total Floating Rate Loan Interests — 138.4% (Cost — $418,323,932)					364,434,166

		Shares

Investment Companies — 0.0%
SPDR S&P Oil & Gas Exploration & Production ETF			3,125		102,813


Total Investment Companies — 0.0% (Cost — $282,930)					102,813

		Beneficial Interests (000)

Other Interests⁽ⁱ⁾ — 0.0%

Auto Components — 0.0%
Lear Corp. Escrow^(a)(b)(f)	USD		500	$	5


IT Services — 0.0%
Millennium Corp.^(a)(b)			991		—
Millennium Lender Claims^(a)(b)			930		—

					—

Total Other Interests — 0.0% (Cost — $0)					5

		Shares

Warrants — 0.0%

Metals & Mining — 0.0%
AFGlobal Corp. (Expires 12/20/20)^(b)			2,642		—


Software — 0.0%
Bankruptcy Management Solutions, Inc. (Expires 07/01/20)^(b)			292		—


Total Warrants — 0.0% (Cost — $2,743)					—


Total Investments — 140.0% (Cost — $423,641,920)					368,705,203

Liabilities in Excess of Other Assets — (40.0)%				(105,359,769)


Net Assets — 100.0%				$263,345,434

Various inputs are used in determining the fair value of investments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investments and derivative financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust’s policy regarding valuation of investments, refer to the Trust’s most recent financial statements as contained in its annual report.

The following tables summarize the Trust’s investments and derivative financial instruments categorized in the disclosure hierarchy:

The Trust may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial statement purposes. As of period end, bank borrowings payable of $104,000,000 are categorized as Level 2 within the disclosure hierarchy.

A reconciliation of Level 3 investments is presented when the Trust had a significant amount of Level 3 investments at the beginning and/or end of the period in relation to net assets. The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value:

The Trust’s investments that are categorized as Level 3 were valued utilizing third party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of such Level 3 investments.


^(e)		Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates.
^(f)		Issuer filed for bankruptcy and/or is in default.
^(g)		Represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate.
^(h)		Amount is less than 500.
⁽ⁱ⁾		Other interests represent beneficial interests in liquidation trusts and other reorganization or private entities.

Investments in issuers considered to be an affiliate/affiliates of the Trust during the period ended March 31, 2020 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:


Affiliated Issuer	Shares Held at 12/31/19		Shares Purchased		Shares Sold			Shares Held at 03/31/20		Value at 03/31/20		Income		Net Realized Gain (Loss)^(a)		Change in Unrealized Appreciation (Depreciation)
BlackRock Liquidity Funds, T-Fund, Institutional Class^(b)		—		28,074,241		(28,074,241	)		—	$	—	$	3,879	$	—	$	—


^(a) Includes net capital gain distributions, if applicable.
^(b) As of period end, the entity is no longer held by the Trust.



Forward Foreign Currency Exchange Contracts

Currency Purchased		Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
GBP	2,395,000	USD	2,973,649	Natwest Markets PLC		04/03/20	$	1,219
USD	3,095,276	GBP	2,401,000	Standard Chartered Bank		04/03/20		112,955
USD	845,176	EUR	765,000	UBS AG		05/05/20		385

								114,559


EUR	765,000	USD	844,025	UBS AG		04/03/20		(282	)
USD	843,636	EUR	767,000	BNP Paribas S.A.		04/03/20		(2,312	)
USD	2,976,020	GBP	2,395,000	Natwest Markets PLC		05/05/20		(940	)

								(3,534	)

	Net unrealized appreciation						$	111,025


	Level 1		Level 2			Level 3		Total
Assets:
Investments:
Long-Term Investments:
Common Stocks^(a)	$	54,082	$	203,089		$	29,904	$	287,075
Asset-Backed Securities		—		212,801			749,050		961,851
Corporate Bonds^(a)		—		2,919,293			—		2,919,293
Floating Rate Loan Interests^(a)		—		273,929,994			90,504,172		364,434,166
Investment Companies^(a)		102,813		—			—		102,813
Other Interests^(a)		—		—			5		5
Liabilities:
Unfunded Floating Rate Loan Interests^(b)		—		(53,310	)		—		(53,310	)

	$	156,895	$	277,211,867		$	91,283,131	$	368,651,893

Derivative Financial Instruments^(c)
Assets:
Foreign currency exchange contracts	$	—	$	114,559		$	—	$	114,559
Liabilities:
Foreign currency exchange contracts		—		(3,534	)		—		(3,534	)

	$	—	$	111,025		$	—	$	111,025


	Common Stocks			Asset- Backed Securities			Floating Rate Loan Interests			Other Interests		Total
Assets:
Opening balance, as of March 31, 2020	$	212,857		$	—		$	18,429,479		$	5	$	18,642,341
Transfers into Level 3^(a)		—			—			61,877,095			—		61,877,095
Transfers out of Level 3^(b)		(196,036	)		—			(5,575,509	)		—		(5,771,545	)
Accrued discounts/premiums		—			—			20,555			—		20,555
Net realized gain (loss)		—			—			(642,978	)		—		(642,978	)
Net change in unrealized appreciation (depreciation)^(c)		13,083			(950	)		(9,978,436	)		—		(9,966,303	)
Purchases		—			750,000			37,475,723			—		38,225,723
Sales		—			—			(11,101,757	)		—		(11,101,757	)

Closing Balance, as of March 31, 2020	$	29,904		$	749,050		$	90,504,172		$	5	$	91,283,131

Net change in unrealized appreciation (depreciation) on investments still held at March 31, 2020^(c)	$	13,083		$	(950)		$	(9,945,982)		$	—	$	(9,933,849)


^(a)		Non-income producing security.
^(b)		Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
^(c)		Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
^(d)		Variable rate security. Rate shown is the rate in effect as of period end.