The New America High Income Fund, Inc.
March 31, 2021 (Unaudited)
Portfolio of Investments
(Dollar Amounts in Thousands)
Principal | Value | |||||||
Amount/Units | (See Notes) | |||||||
CORPORATE DEBT SECURITIES - 120.18% (d)(f) | ||||||||
Aerospace & Defense - 1.24% | ||||||||
1,830 | Transdigm Holdings UK, plc, Senior Notes, 6.25%, 03/15/26 (g) | 1,935 | ||||||
115 | Transdigm Holdings UK, plc, Senior Notes, 7.50, 03/15/27 | 123 | ||||||
730 | Transdigm Holdings UK, plc, Senior Notes, 8%, 12/15/25 (g) | 794 | ||||||
2,852 | ||||||||
Airlines - 2.94% | ||||||||
720 | American Airlines Inc., Senior Notes, 11.75%, 07/15/25 (g) | 890 | ||||||
925 | American Airlines Inc., Senior Notes, 5.50%, 04/20/26 (g) | 961 | ||||||
1,015 | American Airlines Inc., Senior Notes, 5.75%, 04/20/29 (g) | 1,081 | ||||||
135 | Delta Airlines, Senior Notes, 4.50%, 10/20/25 (g) | 144 | ||||||
495 | Delta Airlines, Senior Notes, 4.75%, 10/20/28 (g) | 538 | ||||||
550 | Delta Airlines, Senior Notes, 7%, 05/01/25 (g) | 633 | ||||||
725 | Delta Airlines, Senior Notes, 7.375%, 01/15/26 | 850 | ||||||
285 | Hawaiian Miles Loyalty, Ltd., Senior Notes, 5.75%, 01/20/26 (g) | 302 | ||||||
760 | Mileage Plus Holdings, LLC, Senior Notes, 6.50%, 06/20/27 (g) | 831 | ||||||
510 | United Airlines Holdings, Inc., Senior Notes, 5%, 02/01/24 | 518 | ||||||
6,748 | ||||||||
Automotive - 5.39% | ||||||||
810 | Adient Global Holdings, Senior Notes, 4.875%, 08/15/26 (g) | 834 | ||||||
655 | Adient US, LLC, Senior Notes, 9%, 04/15/25 (g) | 725 | ||||||
85 | Clarios Global LP, Senior Secured Notes, 6.25%, 05/15/26 (g) | 90 | ||||||
3,215 | Clarios Global LP, Senior Notes, 8.50%, 05/15/27 (g) | 3,460 | ||||||
50 | Dana Financing Luxembourg Sarl, Senior Notes, 5.75%, 04/15/25 (g) | 52 | ||||||
455 | Dana Inc., Senior Notes, 5.625%, 06/15/28 | 483 | ||||||
700 | Ford Motor Company, Senior Notes, 8.50%, 04/21/23 | 781 | ||||||
1,185 | Ford Motor Company, Senior Notes, 9%, 04/22/25 | 1,433 | ||||||
15 | Ford Motor Credit Company, LLC, Senior Notes, 9.625%, 04/22/2030 | 21 |
265 | Goodyear Tire and Rubber Company, Senior Notes, 9.50%, 05/31/25 | 296 | ||||||
222 | Group One Automotive, Inc, Senior Notes, 4%, 08/15/28 (g) | 220 | ||||||
445 | Jaguar land Rover Automotive Plc, Senior Notes, 7.75%, 10/15/25 (g) | 482 | ||||||
435 | Meritor, Inc., Senior Notes, 6.25%, 06/01/25 (g) | 463 | ||||||
590 | Navistar International Corporation, Senior Notes, 9.50%, 05/01/25 (g) | 649 | ||||||
105 | Real Hero Merger, Senior Notes, 6.25%, 02/01/29 (g) | 108 | ||||||
200 | Tenneco Inc., Senior Notes, 5%, 07/15/24 (EUR) | 241 | ||||||
915 | Tenneco Inc., Senior Notes, 5%, 07/15/26 | 865 | ||||||
465 | Tenneco Inc., Senior Notes, 5.125%, 04/15/29 (g) | 458 | ||||||
285 | Tenneco Inc., Senior Notes, 5.375%, 12/15/24 | 286 | ||||||
385 | Tenneco Inc., Senior Notes, 7.875%, 01/15/29 (g) | 433 | ||||||
12,380 | ||||||||
Broadcasting - 6.09% | ||||||||
675 | Clear Channel Outdoor Holdings, Inc., Senior Notes, 5.125%, 08/15/27 (g) | 679 | ||||||
1,080 | Clear Channel Outdoor Holdings, Inc., Senior Notes, 7.75%, 04/f15/28 (g) | 1,069 | ||||||
704 | Clear Channel Worldwide Holdings, Inc., Senior Subordinated Notes, 9.25%, 02/15/24 | 733 | ||||||
300 | Diamond Sports Group, LLC, Senior Notes, 5.375%, 08/15/26 (g) | 216 | ||||||
765 | Diamond Sports Group, LLC, Senior Notes, 6.625%, 08/15/27 (g) | 405 | ||||||
2,674 | iHeart Communications, Inc., Senior Notes, 8.375%, 05/01/27 | 2,858 | ||||||
1,030 | Lionsgate Capital Holdings LLC, Senior Notes, 6.375%, 02/01/24 (g) | 1,063 | ||||||
1,635 | MDC Partners, Inc., Senior Notes, 7.50%, 05/01/24 (g) | 1,655 | ||||||
355 | Nexstar Broadcasting, Inc., Senior Notes, 4.75%, 11/01/28 (g) | 358 | ||||||
450 | Nielsen Finance LLC, Senior Notes, 5.625%, 10/01/28 (g) | 472 | ||||||
65 | Outfront Media Capital, LLC, Senior Notes, 5%, 08/15/27 (g) | 66 | ||||||
145 | Outfront Media Capital, LLC, Senior Notes, 4.25%, 01/15/29 (g) | 139 | ||||||
295 | Scripps Company., Senior Notes, 5.375%, 01/15/31 (g) | 293 | ||||||
560 | Sirius XM Radio, Inc., Senior Notes, 4.625%, 07/15/24 (g) | 575 | ||||||
620 | Sirius XM Radio, Inc., Senior Notes, 5%, 08/01/27 (g) | 648 | ||||||
1,130 | Terrier Media Buyer, Inc., Senior Notes, 8.875%, 12/15/27 (g) | 1,215 | ||||||
345 | Townsquare Media, Inc., Senior Notes, 6.875%, 02/01/26 (g) | 367 | ||||||
580 | Univision Communications, Inc., Senior Notes, 6.625%, 06/01/27 (g) | 618 | ||||||
280 | Univision Communications, Inc., Senior Notes, 9.50%, 05/01/25 (g) | 308 | ||||||
250 | Urban One, Inc., Senior Notes, 7.375%, 02/01/28 (g) | 257 | ||||||
13,994 |
Building & Real Estate - 1.80% | ||||||||
755 | Cushman & Wakefield U.S. Borrower, LLC, Senior Notes, 6.75%, 05/15/28 (g) | 814 | ||||||
645 | Howard Hughes Corporation, Senior Notes, 4.125%, 02/01/29 (g) | 630 | ||||||
465 | Howard Hughes Corporation, Senior Notes, 4.375%, 02/01/31 (g) | 455 | ||||||
570 | Howard Hughes Corporation, Senior Notes, 5.375%, 08/01/28 (g) | 599 | ||||||
180 | Realogy Group LLC, Senior Notes, 5.75%, 01/15/29 (g) | 178 | ||||||
150 | Realogy Group LLC, Senior Notes, 7.625%, 06/15/25 (g) | 164 | ||||||
400 | Realogy Group LLC, Senior Notes, 9.375%, 04/01/27 (g) | 442 | ||||||
225 | Taylor Morrison Communities, Inc., Senior Notes, 5.125%, 08/01/30 (g) | 239 | ||||||
425 | Taylor Morrison Communities, Inc., Senior Notes, 5.875%, 04/15/23 (g) | 451 | ||||||
160 | Weekley Homes LLC, Senior Notes, 4.875%, 09/15/28 (g) | 164 | ||||||
4,136 | ||||||||
Building Products - 1.89% | ||||||||
680 | ABC Supply Company, Inc., Senior Notes, 5.875%, 05/15/26 (g) | 702 | ||||||
140 | Beacon Roofing Supply, Inc., Senior Notes, 4.875%, 11/01/25 (g) | 143 | ||||||
120 | CP Atlas Buyer, Inc., Senior Notes, 7%, 12/01/28 (g) | 125 | ||||||
445 | Forterra Finance LLC, Senior Notes, 6.50%, 07/15/25 (g) | 478 | ||||||
145 | LBM Acquisition, LLC, Senior Notes, 6.25%, 01/15/29 (g) | 149 | ||||||
355 | Mercer International, Inc., Senior Notes, 5.125%, 02/01/29 (g) | 367 | ||||||
80 | Mercer International, Inc., Senior Notes, 5.50%, 01/15/26 | 82 | ||||||
295 | New Enterprise Stone and Lime Company, Inc., Senior Notes, 6.25%, 03/15/26 (g) | 303 | ||||||
470 | PGT Innovations, Inc., Senior Notes, 6.75%, 08/01/26 (g) | 499 | ||||||
395 | Specialty Building Products Holdings, LLC, Senior Note, 6.375%, 09/30/26 (g) | 409 | ||||||
290 | Summit Materials LLC, Senior Notes, 5.125%, 06/01/25 (g) | 294 | ||||||
120 | Summit Materials LLC, Senior Notes, 5.25%, 01/15/29 (g) | 125 | ||||||
640 | Summit Materials LLC, Senior Notes, 6.50%, 03/15/27 (g) | 675 | ||||||
4,351 | ||||||||
Cable Operators - 12.22% | ||||||||
1,600 | Altice Financing S.A., Senior Notes, 7.50%, 05/15/26 (g) | 1,668 |
1,550 | Altice France Holding S.A., Senior Notes, 6%, 02/15/28 (g) | 1,525 | ||||||
1,120 | Altice France Holding S.A., Senior Notes, 10.50%, 05/15/27 (g) | 1,260 | ||||||
1,400 | Altice France S.A., Senior Notes, 7.375%, 05/01/26 (g) | 1,456 | ||||||
605 | Altice France S.A., Senior Notes, 8.125%, 02/01/27 (g) | 662 | ||||||
475 | C&W Senior Financing Designated Activity, Senior Notes, 6.875%, 09/15/27 (g) | 506 | ||||||
200 | Cablevision Lightpath LLC, Senior Notes, 5.625%, 09/15/28 (g) | 202 | ||||||
90 | CCO Holdings, LLC, Senior Notes, 4.25%, 02/01/31 (g) | 90 | ||||||
845 | CCO Holdings, LLC, Senior Notes, 4.50%, 05/01/32 (g) | 856 | ||||||
2,260 | CCO Holdings, LLC, Senior Notes, 5.00%, 02/01/28 (g) | 2,370 | ||||||
1,658 | CCO Holdings, LLC, Senior Notes, 5.125%, 05/01/27 (g) | 1,741 | ||||||
680 | CCO Holdings, LLC, Senior Notes, 5.375%, 06/01/29 (g) | 728 | ||||||
1,130 | CCO Holdings, LLC, Senior Notes, 5.50%, 05/01/26 (g) | 1,165 | ||||||
550 | CSC Holdings, LLC, Senior Notes, 4.625%, 12/01/30 (g) | 540 | ||||||
1,410 | CSC Holdings, LLC, Senior Notes, 6.50%, 02/01/29 (g) | 1,551 | ||||||
895 | CSC Holdings, LLC, Senior Notes, 7.50%, 04/01/28 (g) | 986 | ||||||
225 | Dish DBS Corporation, Senior Notes, 5.875%, 11/15/24 | 235 | ||||||
665 | Dish DBS Corporation, Senior Notes, 7.375%, 07/01/28 | 694 | ||||||
810 | Dish DBS Corporation, Senior Notes, 7.75%, 07/01/26 | 891 | ||||||
390 | GCI LLC, Senior Notes, 4.75%, 10/15/28 (g) | 398 | ||||||
225 | LCPR Senior Secured Notes, 6.75%, 10/15/27 (g) | 239 | ||||||
770 | Netflix, Inc., Senior Notes, 5.375%, 11/15/29 (g) | 911 | ||||||
1,555 | Netflix, Inc., Senior Notes, 5.875%, 11/15/28 | 1,874 | ||||||
2,625 | Netflix, Inc., Senior Notes, 6.375%, 05/15/29 | 3,255 | ||||||
570 | Radiate Holdco LLC, Senior Notes, 6.50%, 09/15/28 (g) | 601 | ||||||
490 | Virgin Media Secured Finance, Plc, Senior Notes, 5.50%, 08/15/26 (g) | 508 | ||||||
270 | VTR Finance B.V., Senior Notes, 6.375%, 07/15/28 (g) | 290 | ||||||
845 | Ziggo Bond Finance B.V., Senior Notes, 6%, 01/15/27 (g) | 883 | ||||||
28,085 | ||||||||
Chemicals - 2.09% | ||||||||
366 | Compass Minerals International, Inc., Senior Notes, 6.75%, 12/01/27 (g) | 393 | ||||||
1,440 | CVR Partners, L.P., Senior Notes, 9.25%, 06/15/23 (g) | 1,449 |
250 | Diamond (BC) B.V., Senior Notes, 5.625%, 08/15/25 (EUR) | 300 | ||||||
630 | GPD Companies, Inc,. Senior Notes, 10.125%, 04/01/26 (g) | 691 | ||||||
200 | Kraton Polymers LLC, Senior Notes, 5.25%, 05/15/26 (g)(EUR) | 241 | ||||||
480 | Methanex Corporation, Senior Notes, 5.125%, 10/15/27 | 491 | ||||||
280 | Methanex Corporation, Senior Notes, 5.25%, 12/15/29 | 289 | ||||||
410 | Methanex Corporation, Senior Notes, 5.65%, 12/01/44 | 406 | ||||||
520 | Univar Solutions USA, Senior Notes, 5.125%, 12/01/27 (g) | 540 | ||||||
4,800 | ||||||||
Consumer Products - .59% | ||||||||
105 | CD&R Smokey Buyer, Inc., Senior Notes, 6.75%, 07/15/25 (g) | 112 | ||||||
93 | Life Time Inc, Senior Notes, 5.75%, 01/15/26 (g) | 96 | ||||||
315 | Life Time Inc, Senior Notes, 8%, 04/15/26 (g) | 324 | ||||||
145 | Mattel Inc., Senior Notes, 5.45%, 11/01/41 | 158 | ||||||
325 | Mattel Inc., Senior Notes, 5.875%, 12/15/27 (g) | 355 | ||||||
260 | Mattel Inc., Senior Notes, 6.20%, 10/01/40 | 307 | ||||||
1,352 | ||||||||
Container - 2.04% | ||||||||
1,005 | Ardagh Packaging Finance plc, Senior Notes, 4%, 09/01/29 (g) | 1,000 | ||||||
400 | Ardagh Packaging Finance plc, Senior Notes, 5.25%, 04/30/25 (g) | 420 | ||||||
1,240 | Mauser Packaging Solutions, Senior Notes, 7.25%, 04/15/25 (g) | 1,238 | ||||||
235 | Mauser Packaging Solutions, Senior Notes, 8.50%, 04/15/24 (g) | 244 | ||||||
325 | Pactiv Corporation, Senior Notes, 7.95%, 12/15/25 | 361 | ||||||
102 | Pactiv Corporation, Senior Notes, 8.375%, 04/15/27 | 116 | ||||||
1,200 | Trivium Packaging Finance B.V., Senior Notes, 8.50%, 08/15/27 (g) | 1,302 | ||||||
4,681 | ||||||||
Energy - 14.03% | ||||||||
285 | Aethon United BR, LP, Senior Notes, 8.25% 02/15/26 (g) | 293 | ||||||
430 | Apache Corporation, Senior Notes, 4.625%, 11/15/25 | 442 | ||||||
420 | Apache Corporation, Senior Notes, 4.875%, 11/15/27 | 429 | ||||||
30 | Apache Corporation, Senior Notes, 6%, 01/15/37 | 33 |
275 | Cheniere Energy Partners, L.P., Senior Notes, 5.625%, 10/01/26 | 287 | ||||||
900 | Citgo Holding, Inc., Senior Notes, 9.25%, 08/01/24 (g) | 900 | ||||||
800 | Citgo Petroleum Corporation, Senior Notes, 7%, 06/15/25 (g) | 821 | ||||||
340 | Comstock Resources, Inc., Senior Notes, 6.75%, 03/01/29 (g) | 349 | ||||||
590 | Comstock Resources, Inc., Senior Notes, 9.75%, 08/15/26 | 640 | ||||||
720 | Continental Resources, Inc., Senior Notes, 4.90%, 06/01/44 | 718 | ||||||
695 | Continental Resources, Inc., Senior Notes, 5.75%, 01/15/31 (g) | 782 | ||||||
230 | CrownRock , L.P., Senior Notes, 5.625%, 10/15/25 (g) | 234 | ||||||
795 | DCP Midstream, LLC, Senior Notes, 6.75%, 09/15/37 (g) | 884 | ||||||
540 | DCP Midstream, LLC, Senior Notes, 7.375%, (h) | 482 | ||||||
470 | DCP Midstream, LLC, Senior Notes, 8.125%, 08/16/30 | 607 | ||||||
598 | Endeavor Energy Resources, L.P., Senior Notes. 5.75%, 01/30/28 (g) | 632 | ||||||
110 | Endeavor Energy Resources, L.P., Senior Notes. 6.625%, 07/15/25 (g) | 117 | ||||||
135 | EQT Corporation, Senior Notes, 7.375%, 01/15/29 | 144 | ||||||
90 | EQT Corporation, Senior Notes, 8.25%, 02/01/25 | 103 | ||||||
700 | EQT Corporation, Senior Notes, 8.75%, 02/01/30 | 889 | ||||||
1,000 | Exterran NRG Solutions, Senior Notes, 8.125%, 05/01/25 | 920 | ||||||
60 | Hess Corporation, Senior Notes, 7.875%, 10/01/29 | 78 | ||||||
245 | HilCorp Energy, L.P., Senior Notes, 5.75%, 02/01/29 (g) | 247 | ||||||
275 | HilCorp Energy, L.P., Senior Notes, 6%, 02/01/31 (g) | 279 | ||||||
1,460 | Magnolia Oil and Gas Operating LLC, Senior Notes, 6%, 08/01/26 (g) | 1,496 | ||||||
260 | Matador Resources Company, Senior Notes, 5.875%, 09/15/26 | 252 | ||||||
1,410 | NGL Energy Partners L.P., Senior Notes, 7.50%, 11/01/23 | 1,357 | ||||||
1,550 | NGL Energy Partners L.P., Senior Notes, 7.50%, 02/01/26 (g) | 1,589 | ||||||
345 | Nustar Logistics, L.P., Senior Notes, 5.75%, 10/01/25 | 367 | ||||||
1,190 | Nustar Logistics, L.P., Senior Notes, 6%, 06/01/26 | 1,264 | ||||||
340 | Occidental Petroleum Corporation, Senior Notes, 5.50%, 12/01/25 | 358 | ||||||
305 | Occidental Petroleum Corporation, Senior Notes, 5.875%, 09/01/25 | 324 | ||||||
310 | Occidental Petroleum Corporation, Senior Notes, 6.125%, 01/01/31 | 341 | ||||||
290 | Occidental Petroleum Corporation, Senior Notes, 6.375%, 09/01/28 | 318 | ||||||
100 | Occidental Petroleum Corporation, Senior Notes, 6.45%, 09/15/36 | 110 | ||||||
790 | Occidental Petroleum Corporation, Senior Notes, 7.95%, 06/15/39 | 931 |
470 | Occidental Petroleum Corporation, Senior Notes, 8%, 07/15/25 | 539 | ||||||
625 | Occidental Petroleum Corporation, Senior Notes, 8.50%, 07/15/27 | 738 | ||||||
1,190 | Occidental Petroleum Corporation, Senior Notes, 8.875%, 07/15/30 | 1,496 | ||||||
455 | Ovintiv Exploration, Inc., Senior Notes, 5.625%, 07/01/24 | 500 | ||||||
215 | Range Resources, Corporation, Senior Notes, 8.25%, 01/15/29 (g) | 230 | ||||||
530 | Range Resources, Corporation, Senior Notes, 9.25%, 02/01/26 | 576 | ||||||
3,020 | Seven Generations Energy Ltd., Senior Notes, 5.375%, 09/30/25 (g) | 3,129 | ||||||
320 | Solaris Midstream Holdings, LLC, Senior Notes, 7.625%, 04/01/26 (g) | 327 | ||||||
39 | Summit Midstream Partners, LP, Senior Notes, 9.50%, (a)(h) | 24 | ||||||
371 | Tallgrass Energy Partners, L.P., Senior Notes, 5.50%, 09/15/24 (g) | 375 | ||||||
345 | Tallgrass Energy Partners, L.P., Senior Notes, 6%, 03/01/27 (g) | 347 | ||||||
450 | Tallgrass Energy Partners, L.P., Senior Notes, 6%, 12/31/30 (g) | 443 | ||||||
370 | Tallgrass Energy Partners, L.P., Senior Notes, 7.50%, 10/01/25 (g) | 396 | ||||||
295 | Targa Resources Partners, L.P., Senior Notes, 6.50%, 07/15/27 | 320 | ||||||
435 | Targa Resources Partners, L.P., Senior Notes, 6.875%, 01/15/29 | 479 | ||||||
96 | Transocean Phoenix 2, Ltd., Senior Notes, 7.75%, 10/15/24 (g) | 93 | ||||||
239 | Transocean Pontus, Ltd., Senior Notes, 6.125%, 08/01/25 (g) | 225 | ||||||
198 | Transocean Proteus, Ltd., Senior Notes, 6.25%, 12/01/24 (g) | 188 | ||||||
450 | USA Compression Partners, L.P., Senior Notes, 6.875%, 04/01/26 | 461 | ||||||
390 | USA Compression Partners, L.P., Senior Notes, 6.875%, 09/01/27 | 402 | ||||||
945 | Vine Energy Holdings, LLC, Senior Notes, 6.75%, 04/15/29 (g) | 944 | ||||||
32,249 | ||||||||
Entertainment & Leisure - 4.74% | ||||||||
1,065 | Carnival Corporation, Senior Notes, 7.625%, 03/01/26 (g) | 1,142 | ||||||
820 | Carnival Corporation, Senior Notes, 9.875%, 08/01/27 (g) | 961 | ||||||
215 | Cedar Fair, L. P., Senior Notes, 5.25%, 07/15/29 | 221 | ||||||
650 | Cedar Fair, L. P., Senior Notes, 5.375%, 04/15/27 | 666 | ||||||
1,080 | Cedar Fair, L. P., Senior Notes, 5.50%, 05/01/25 (g) | 1,133 | ||||||
730 | NCL Corporation Ltd., Senior Notes, 5.875%, 03/15/26 (g) | 737 | ||||||
215 | NCL Finance, Ltd., Senior Notes, 6.125%, 03/15/28 (g) | 219 | ||||||
555 | Royal Caribbean Cruises, Ltd., Senior Notes, 5.25%, 11/15/22 | 570 | ||||||
1,005 | Royal Caribbean Cruises, Ltd., Senior Notes, 5.50%, 04/01/28 (g) | 1,010 |
775 | Royal Caribbean Cruises, Ltd., Senior Notes, 11.50%, 06/01/25 (g) | 901 | ||||||
915 | SeaWorld Parks & Entertainment, Inc.,Senior Notes, 9.50%, 08/01/25 (g) | 993 | ||||||
1,675 | Six Flags Theme Parks, Inc., Senior Notes, 7%, 07/01/25 (g) | 1,809 | ||||||
300 | Vail Resorts, Inc., Senior Notes, 6.25%, 05/15/25 (g) | 320 | ||||||
190 | Viking Cruises, Ltd., Senior Notes, 13%, 05/15/25 (g) | 223 | ||||||
10,905 | ||||||||
Financial - 7.96% | ||||||||
425 | Acrisure, LLC, Senior Notes, 4.25%, 02/15/29 (g) | 418 | ||||||
695 | Acrisure, LLC, Senior Notes, 7%, 11/15/25 (g) | 718 | ||||||
825 | Acrisure, LLC, Senior Notes, 10.125%, 08/01/26 (g) | 952 | ||||||
325 | Alliant Holdings, Senior Notes, 6.75%, 10/15/27 (g) | 348 | ||||||
838 | AmWins Group, Inc., Senior Notes, 7.75%, 07/01/26 (g) | 895 | ||||||
430 | Assured Partners, Inc. Senior Notes, 5.625%, 01/15/29 (g) | 436 | ||||||
825 | Banco Do Brasil S.A. (Cayman), 9% (h) | 901 | ||||||
132 | Cabot Financial (Luxembourg) S.A., Senior Notes, 7.50%, 10/01/23 (g) (GBP) | 186 | ||||||
146 | Cabot Financial (Luxembourg) S.A., Senior Notes, 7.50%, 10/01/23 (GBP) | 205 | ||||||
745 | Genworth Mortgage Holdings, Senior Notes, 6.50%, 08/15/25 (g) | 803 | ||||||
585 | GTCR AP Finance, Inc., Senior Notes, 8%, 05/15/27 (g) | 627 | ||||||
190 | Home Point Capital, Inc., Senior Notes, 5%, 02/01/26 (g) | 188 | ||||||
1,090 | Hub Holdings LLC, Senior Notes, 7%, 05/01/26 (g) | 1,130 | ||||||
1,010 | Icahn Enterprises, L.P., Senior Notes, 6.25%, 05/15/26 | 1,061 | ||||||
980 | Itau Unibankco Holding S.A., Senior Notes, 6.125%, (g)(h) | 984 | ||||||
505 | LPL Holdings, Inc., Senior Notes, 4%, 03/15/29 (g) | 508 | ||||||
210 | MGIC Investment Corporation, Senior Notes, 5.25%, 08/15/28 | 218 | ||||||
685 | Navient Corporation, Senior Notes, 4.875%, 03/15/28 | 670 | ||||||
500 | Navient Corporation, Senior Notes, 5%, 03/15/27 | 501 | ||||||
1,115 | Navient Corporation, Senior Notes, 6.125%, 03/25/24 | 1,181 | ||||||
550 | Navient Corporation, Senior Notes, 6.75%, 06/25/25 | 597 | ||||||
215 | Navient Corporation, Senior Notes, 6.75%, 06/15/26 | 233 | ||||||
40 | Navient Corporation, Senior Notes, 7.25%, 01/25/22 | 41 | ||||||
725 | Navient Corporation, Senior Notes, 7.25%, 09/25/23 | 785 |
300 | OneMain Finance Corporation, Senior Notes, 6.125%, 03/15/24 | 324 | ||||||
390 | OneMain Finance Corporation, Senior Notes, 6.625%, 01/15/28 | 441 | ||||||
810 | OneMain Finance Corporation, Senior Notes, 6.875%, 03/15/25 | 917 | ||||||
300 | OneMain Finance Corporation, Senior Notes, 7.125%, 03/15/26 | 345 | ||||||
275 | OneMain Finance Corporation, Senior Notes, 8.875%, 06/01/25 | 304 | ||||||
475 | PennyMac Financial Services, Inc., Senior Notes, 4.25%, 02/15/29 (g) | 454 | ||||||
300 | PennyMac Financial Services, Inc., Senior Notes, 5.375%, 10/15/25 (g) | 310 | ||||||
250 | Quicken Loans, Inc., Senior Notes, 5.25%, 01/15/28 (g) | 264 | ||||||
335 | SLM Corporation, Senior Notes, 4.20%, 10/29/25 | 351 | ||||||
18,296 | ||||||||
Food/Tobacco - 3.33% | ||||||||
1,425 | B&G Foods, Inc., Senior Notes, 5.25%, 04/01/25 | 1,461 | ||||||
270 | B&G Foods, Inc., Senior Notes, 5.25%, 09/15/27 | 279 | ||||||
190 | Chobani LLC., Senior Notes, 4.625%, 11/15/28 (g) | 194 | ||||||
1,130 | Chobani LLC., Senior Notes, 7.50%, 04/15/25 (g) | 1,172 | ||||||
770 | Cosan Luxembourg S.A., Senior Notes, 7%, 01/20/27 (g) | 818 | ||||||
520 | FAGE International S.A., Senior Notes, 5.625%, 08/15/26 (g) | 537 | ||||||
230 | Kraft Foods Group, Senior Notes, 6.875%, 01/26/39 | 317 | ||||||
635 | Post Holdings, Inc., Senior Notes, 4.50%, 09/15/31 (g) | 625 | ||||||
485 | Post Holdings, Inc., Senior Notes, 5.625%, 01/15/28 (g) | 511 | ||||||
330 | Post Holdings, Inc., Senior Notes, 5.75%, 03/01/27 (g) | 346 | ||||||
900 | Sigma Holdco., B.V., Senior Notes, 7.875%, 05/15/26 (g) | 900 | ||||||
495 | Triton Water Holdings, Inc., Senior Notes 6.25%, 04/01/29 (g) | 503 | ||||||
7,663 | ||||||||
Gaming - 7.14% | ||||||||
160 | Affinity Gaming Corporation, Senior Notes, 6.875%, 12/15/27 (g) | 168 | ||||||
580 | Boyd Gaming Corporation, Senior Notes, 6%, 08/15/26 | 604 | ||||||
195 | Boyd Gaming Corporation, Senior Notes, 8.625%, 06/01/25 (g) | 217 | ||||||
375 | Caesar's Resorts, Senior Notes, 5.75%, 07/01/25 (g) | 394 | ||||||
355 | Caesar's Resorts, Senior Notes, 8.125%, 07/01/27 (g) | 390 |
752 | Cirsa Finance International, S.A.R.L., Senior Notes, 7.875%, 12/20/23 (g) | 769 | ||||||
235 | International Game Technology Plc, Senior Notes, 4.125%, 04/15/26 (g) | 243 | ||||||
375 | International Game Technology Plc, Senior Notes, 5.25%, 01/15/29 (g) | 390 | ||||||
1,165 | International Game Technology Plc, Senior Notes, 6.25%, 01/15/27 (g) | 1,286 | ||||||
520 | Melco Resorts Finance, Senior Notes, 5.375%, 12/04/29 (g) | 550 | ||||||
395 | MGM China Holdings, Limited, Senior Notes, 4.75%, 02/01/27 (g) | 400 | ||||||
315 | MGM China Holdings, Limited, Senior Notes, 5.375%, 05/15/24 (g) | 325 | ||||||
315 | MGM China Holdings, Limited, Senior Notes, 5.875%, 05/15/26 (g) | 329 | ||||||
455 | MGM Growth Prop. Operating Partnership L.P., Senior Notes, 3.875%, 02/15/29 (g) | 452 | ||||||
435 | MGM Growth Prop. Operating Partnership L.P., Senior Notes, 5.75%, 02/01/27 | 478 | ||||||
605 | MGM Resorts International, Senior Notes, 6%, 03/15/23 | 646 | ||||||
95 | Mohegan Gaming and Entertainment, Senior Notes, 8%, 02/01/26 (g) | 96 | ||||||
735 | Peninsula Pacific Entertainment LLC, Senior Notes, 8.50%, 11/15/27 (g) | 783 | ||||||
230 | Scientific Games International Inc., Senior Notes, 7%, 05/15/28 (g) | 244 | ||||||
325 | Scientific Games International Inc., Senior Notes, 7.25%, 11/15/29 (g) | 351 | ||||||
1,240 | Scientific Games International Inc., Senior Notes, 8.25%, 03/15/26 (g) | 1,330 | ||||||
335 | Scientific Games International Inc., Senior Notes, 8.625%, 07/01/25 (g) | 363 | ||||||
1,235 | Stars Group Holdings B.V., Senior Notes, 7%, 07/15/26 (g) | 1,287 | ||||||
350 | Studio City Finance Ltd., Senior Notes, 5%, 01/15/29 (g) | 351 | ||||||
367 | VICI Properties, Senior Notes, 4.625%, 12/01/29 (g) | 380 | ||||||
1,390 | Wynn Las Vegas, LLC, Senior Notes, 5.25%, 05/15/27 (g) | 1,452 | ||||||
450 | Wynn Macau Ltd., Senior Notes, 5.50%, 01/15/26 (g) | 469 | ||||||
585 | Wynn Macau Ltd., Senior Notes, 5.50%, 10/01/27 (g) | 607 | ||||||
1,030 | Wynn Macau Ltd., Senior Notes, 5.625%, 08/26/28 (g) | 1,071 | ||||||
16,425 | ||||||||
Healthcare - 8.80% | ||||||||
870 | Avantor Funding, Inc., Senior Notes, 4.625%, 07/15/28 (g) | 907 | ||||||
1,381 | Bausch Health Companies, Inc., Senior Notes, 7%, 03/15/24 (g) | 1,412 | ||||||
85 | Bausch Health Companies, Inc., Senior Notes, 7%, 01/15/28 (g) | 92 | ||||||
515 | Bausch Health Companies, Inc., Senior Notes, 7.25%, 05/30/29 (g) | 574 |
1,970 | Bausch Health Companies, Inc., Senior Notes, 8.50%, 01/31/27 (g) | 2,187 | ||||||
1,060 | Bausch Health Companies, Inc., Senior Notes, 9%, 12/15/25 (g) | 1,150 | ||||||
1,600 | Bausch Health Companies, Inc., Senior Notes, 9.25%, 04/01/26 (g) | 1,772 | ||||||
775 | Centene Corporation, Senior Notes, 4.625%, 12/15/29 | 835 | ||||||
455 | CHS/Community Health Systems, Inc, Senior Notes, 6%, 01/15/29 (g) | 481 | ||||||
370 | CHS/Community Health Systems, Inc, Senior Notes, 6.875%, 04/15/29 (g) | 385 | ||||||
900 | CHS/Community Health Systems, Inc, Senior Notes, 8%, 12/15/27 (g) | 981 | ||||||
500 | DaVita Healthcare Partners, Inc., Senior Notes, 4.625%, 06/01/30 (g) | 508 | ||||||
230 | HCA, Incorporated, Senior Notes, 5.625%, 09/01/28 | 264 | ||||||
575 | HCA, Incorporated, Senior Notes, 5.875%, 02/15/26 | 654 | ||||||
450 | HCA, Incorporated, Senior Notes, 5.875%, 02/01/29 | 521 | ||||||
405 | Legacy Lifepoint Health Inc., Senior Notes, 6.75%, 04/15/25 (g) | 430 | ||||||
200 | Radiology Partners, Inc., Senior Notes, 9.25%, 02/01/28 (g) | 217 | ||||||
1,135 | Regional Care Hospital Partners Holdings, Inc., Senior Notes, 9.75%, 12/01/26 (g) | 1,229 | ||||||
275 | RP Escrow Issuer LLC, Senior Notes, 5.25%, 12/15/25 (g) | 285 | ||||||
435 | Select Medical Corporation, Senior Notes, 6.25%, 08/15/26 (g) | 462 | ||||||
1,640 | Tenet Healthcare Corporation, Senior Notes, 6.125%, 10/01/28 (g) | 1,710 | ||||||
424 | Tenet Healthcare Corporation, Senior Notes, 6.875%, 11/15/31 | 471 | ||||||
810 | Tenet Healthcare Corporation, Senior Notes, 7.50%, 04/01/25 (g) | 871 | ||||||
360 | Teva Pharma Finance Netherlands III BV, Senior Notes, 6%, 04/15/24 | 382 | ||||||
24 | Teva Pharma Finance Netherlands III BV, Senior Notes, 6.15%, 02/01/36 | 26 | ||||||
1,290 | Teva Pharma Finance Netherlands III BV, Senior Notes, 7.125%, 01/31/25 | 1,421 | ||||||
20,227 | ||||||||
Information Technology - 4.70% | ||||||||
360 | Banff Merger Sub, Inc., Senior Notes, 9.75%, 09/01/26 (g) | 382 | ||||||
135 | Boxer Parent Company, Inc., Senior Notes, 6.50%, 10/02/25 (g) (EUR) | 168 | ||||||
150 | Boxer Parent Company, Inc., Senior Notes, 7.125%, 10/02/25 (g) | 161 | ||||||
260 | Boxer Parent Company, Inc., Senior Notes, 9.125%, 03/01/26 (g) | 277 | ||||||
435 | Commscope, Inc., Senior Notes, 7.125%, 07/01/28 (g) | 461 | ||||||
275 | Commscope, Inc., Senior Notes, 8.25%, 03/01/27 (g) | 294 |
495 | Expedia Group, Inc., Senior Notes, 6.25%, 05/01/25 (g) | 572 | ||||||
305 | Logmein, Inc., Senior Notes, 5.50%, 09/01/27 (g) | 319 | ||||||
1,165 | Photo Holdings Merger, Senior Notes, 8.50%, 10/01/26 (g) | 1,260 | ||||||
2,945 | Solera, LLC, Senior Notes, 10.50%, 03/01/24 (g) | 3,041 | ||||||
750 | SS&C Technologies, Inc., Senior Notes, 5.50%, 09/30/27 (g) | 795 | ||||||
1,755 | Uber Technologies, Inc., Senior Notes, 7.50%, 09/15/27 (g) | 1,933 | ||||||
215 | Veritas Bermuda Ltd., Senior Notes, 7.50%, 09/01/25 (g) | 223 | ||||||
740 | Veritas Bermuda Ltd., Senior Notes, 10.50%, 02/01/24 (g) | 758 | ||||||
170 | Zoom Info Technologies, LLC, Senior Notes, 3.875%, 02/01/29 (g) | 166 | ||||||
10,810 | ||||||||
Lodging - 1.29% | ||||||||
150 | Hilton Domestic Operating Company, Inc.,Senior Notes, 5.375%, 05/01/25 (g) | 158 | ||||||
170 | Hilton Domestic Operating Company, Inc.,Senior Notes, 5.75%, 05/01/28 (g) | 183 | ||||||
125 | Hilton Worldwide Finance, LLC, Senior Notes, 4.875%, 04/01/27 | 130 | ||||||
420 | Marriott Ownership Resorts, Inc., Senior Notes, 6.125%, 09/15/25 (g) | 445 | ||||||
825 | Marriott Ownership Resorts, Inc., Senior Notes, 6.50%, 09/15/26 | 859 | ||||||
300 | Park Intermediate Holdings, LLC, Senior Notes, 5.875%, 10/01/28 (g) | 318 | ||||||
280 | Park Intermediate Holdings, LLC, Senior Notes, 7.50%, 06/01/25 (g) | 305 | ||||||
550 | Ryman Hospitality Group, Senior Notes, 4.75%, 10/15/27 | 562 | ||||||
2,960 | ||||||||
Manufacturing - .56% | ||||||||
315 | Apex Tool /BC Mountain, 9%, 02/15/23 (g) | 315 | ||||||
290 | Colfax Corporation, Senior Notes, 6.375%, 02/15/26 (g) | 308 | ||||||
145 | Hillenbrand Inc., Senior Notes, 3.75%, 03/01/31 | 141 | ||||||
15 | Hillenbrand Inc., Senior Notes, 5%, 09/15/26 | 16 | ||||||
95 | Hillenbrand Inc., Senior Notes, 5.75%, 06/15/25 | 102 | ||||||
175 | Sensata Technologies, Inc., Senior 3.75%, 02/15/31 (g) | 173 | ||||||
218 | Wellbilt, Inc., Senior Notes, 9.50%, 02/15/24 | 225 | ||||||
1,280 | ||||||||
Metals & Mining - 5.87% | ||||||||
745 | Alcoa Nederland Holding B.V., Senior Notes, 5.50%, 12/15/27 (g) | 798 |
200 | Alcoa Nederland Holding B.V., Senior Notes, 6.75%, 09/30/24 (g) | 207 | ||||||
600 | Alcoa Nederland Holding B.V., Senior Notes, 7%, 09/30/26 (g) | 633 | ||||||
280 | Arconic Corporation, Senior Notes, 6%, 05/15/25 (g) | 298 | ||||||
780 | Arconic Corporation, Senior Notes, 6.125%, 02/15/28 (g) | 831 | ||||||
885 | Big River Steel, LLC, Senior Notes, 6.625%, 01/31/29 (g) | 951 | ||||||
232 | Cleveland-Cliffs, Inc., Senior Notes, 9.875%, 10/17/25 (g) | 270 | ||||||
385 | Constellium N.V., Senior Notes, 3.75%, 04/15/29 (g) | 367 | ||||||
1,000 | Constellium N.V., Senior Notes, 5.75%, 05/15/24 (g) | 1,013 | ||||||
505 | FMG Resources Pty. Ltd., Senior Notes, 5.125%, 03/15/23 (g) | 538 | ||||||
610 | FMG Resources Pty. Ltd., Senior Notes, 5.125%, 05/15/24 (g) | 665 | ||||||
310 | Freeport McMoran, Inc., Senior Notes, 5%, 09/01/27 | 328 | ||||||
320 | Freeport McMoran, Inc., Senior Notes, 5.25%, 09/01/29 | 350 | ||||||
1,182 | Freeport McMoran, Inc., Senior Notes, 5.40%, 11/14/34 | 1,406 | ||||||
330 | Freeport McMoran, Inc., Senior Notes, 5.45%, 03/15/43 | 394 | ||||||
265 | GrafTech Finance Inc., Senior Notes, 4.625%, 12/15/28 (g) | 267 | ||||||
1,120 | Hecla Mining Company, Senior Notes, 7.25%, 02/15/28 | 1,198 | ||||||
315 | HudBay Minerals, Inc., Senior Notes, 4.50%, 04/01/26 (g) | 326 | ||||||
545 | HudBay Minerals, Inc., Senior Notes, 6.125%, 04/01/29 (g) | 579 | ||||||
600 | New Gold Inc., Senior Notes, 7.50%, 07/15/27 (g) | 622 | ||||||
745 | Novelis Corporation, Senior Notes, 4.75%, 01/30/30 (g) | 764 | ||||||
608 | Ryerson Inc., Senior Secured Notes, 8.50%, 08/01/28 (g) | 679 | ||||||
13,484 | ||||||||
Other Telecommunications - 1.19% | ||||||||
475 | Consolidated Communications, Inc., Senior Notes, 6.50%, 10/01/28 (g) | 509 | ||||||
385 | Embarq Corporation, Senior Notes, 7.995%, 06/01/36 | 442 | ||||||
475 | Level 3 Financing, Inc., Senior Notes, 3.75%, 07/15/29 (g) | 458 | ||||||
275 | Level 3 Financing, Inc., Senior Notes, 5.375%, 05/01/25 | 281 | ||||||
1,065 | Lumen Technologies, Inc., Senior Notes, 4.50%, 01/15/29 (g) | 1,037 | ||||||
2,727 |
Real Estate Investment Trust Securities - .27% | ||||||||
620 | Service Properties Trust, Senior Notes, 4.35%, 10/01/24 | 614 | ||||||
Restaurants - 1.68% | ||||||||
165 | 1011778 B.C. Unlimited Liability Company, Senior Notes, 5.75%, 04/15/25 (g) | 175 | ||||||
715 | Dave and Buster's, Inc., Senior Notes, 7.625%, 11/01/25 (g) | 763 | ||||||
795 | Golden Nugget, Inc., Senior Notes, 6.75%, 10/15/24 (g) | 801 | ||||||
723 | YUM Brands, Inc., Senior Notes, 5.35%, 11/01/43 | 766 | ||||||
760 | YUM Brands, Inc., Senior Notes, 6.875%, 11/15/37 | 927 | ||||||
395 | YUM Brands, Inc., Senior Notes, 7.75%, 04/01/25 (g) | 431 | ||||||
3,863 | ||||||||
Retail - 1.66% | ||||||||
445 | L Brands, Inc., Senior Notes, 6.625%, 10/01/30 (g) | 505 | ||||||
65 | L Brands, Inc., Senior Notes, 6.694%, 01/15/27 | 74 | ||||||
350 | L Brands, Inc., Senior Notes, 7.50%, 06/15/29 | 398 | ||||||
480 | L Brands, Inc., Senior Notes, 9.375%, 07/01/25 (g) | 599 | ||||||
275 | LSF9 Atlantis Holdings, LLC, Senior Notes, 7.75%, 02/15/26 (g) | 282 | ||||||
250 | Petsmart, Inc., Senior Notes, 4.75%, 02/15/28 (g) | 256 | ||||||
1,450 | Petsmart, Inc., Senior Notes, 7.75%, 02/15/29 (g) | 1,559 | ||||||
140 | Rent-A-Center, Inc., Senior Notes, 6.375%, 02/15/29 (g) | 148 | ||||||
3,821 | ||||||||
Satellites - 3.30% | ||||||||
815 | Connect Finco Sarl, Senior Notes, 6.75%, 10/01/26 (g) | 865 | ||||||
1,750 | Hughes Satellite Systems, Inc., Senior Notes, 6.625%, 08/01/26 | 1,934 | ||||||
3,090 | Intelsat Jackson Holdings Ltd., Senior Notes, 9.50%, 09/30/22 (b)(g) | 3,673 | ||||||
640 | Telesat Canada, Senior Notes, 6.50%, 10/15/27 (g) | 640 | ||||||
450 | Viasat, Inc., Senior Notes, 5.625%, 04/15/27 (g) | 470 | ||||||
7,582 | ||||||||
Services - 8.54% | ||||||||
635 | Adtalem Global Education, Inc., Senior Notes, 5.50%, 03/01/28 (g) | 629 | ||||||
300 | Advantage Sales and Marketing, Inc., Senior Notes, 6.50%, 11/15/28 (g) | 312 | ||||||
610 | Allied Universal Holdco, LLC, Senior Secured Notes, 9.75%, 07/15/27 (g) | 669 |
730 | Ascend Learning, LLC, Senior Notes, 6.875%, 08/01/25 (g) | 748 | ||||||
260 | Avis Budget Car Rental LLC, Senior Notes, 5.75%, 07/15/27 (g) | 272 | ||||||
205 | Avis Budget Car Rental LLC, Senior Notes, 5.75%, 07/15/27 (g) | 212 | ||||||
560 | Black Knight, Inc., Senior Notes, 3.625%, 09/01/28 (g) | 547 | ||||||
640 | EG Global Finance plc, Senior Notes, 6.75%, 02/07/25 (g) | 658 | ||||||
660 | EG Global Finance plc, Senior Notes, 8.50%, 10/30/25 (g) | 700 | ||||||
790 | Fair Isaac Corporation, Senior Notes, 5.25%, 05/15/26 (g) | 874 | ||||||
533 | GFL Enironmental, Inc., Senior Notes, 8.50%, 05/01/27 (g) | 586 | ||||||
1,265 | H&E Equipment Services, Senior Notes, 3.875%, 12/15/28 (g) | 1,227 | ||||||
115 | IPD 3 B.V., Senior Notes, 5.50%, 12/01/25 (g) (EUR) | 139 | ||||||
1,470 | Laureate Education, Inc., Senior Notes, 8.25%, 05/01/25 (g) | 1,536 | ||||||
515 | MSCI, Inc., Senior Notes, 4%, 11/15/29 (g) | 530 | ||||||
515 | Performance Food Group, Inc., Senior Notes, 5.50%, 10/15/27 (g) | 538 | ||||||
234 | Picasso Finance , Senior Notes, 6.125%, 06/15/25 (g) | 249 | ||||||
310 | Presidio Holding, Inc., Senior Notes, 4.875%, 02/01/27 (g) | 316 | ||||||
440 | Presidio Holding, Inc., Senior Notes, 8.25%, 02/01/28 (g) | 480 | ||||||
465 | Prime Security Services Borrower, LLC, Senior Notes, 5.75%, 04/15/26 (g) | 500 | ||||||
610 | Prime Security Services Borrower, LLC, Senior Notes, 6.25%, 01/15/28 (g) | 631 | ||||||
300 | Sabre GLBL, Inc., Senior Notes, 7.375%, 09/01/25 (g) | 326 | ||||||
360 | Sabre GLBL, Inc., Senior Notes, 9.25%, 04/15/25 (g) | 429 | ||||||
215 | Shift 4 Payments, LLC, Senior Notes, 4.625%, 11/01/26 (g) | 223 | ||||||
739 | Staples, Inc., Senior Notes 7.50%, 04/15/26 (g) | 777 | ||||||
735 | Staples, Inc., Senior Notes 10.75%, 04/15/27 (g) | 724 | ||||||
575 | United Rentals (North America), Inc., Senior Notes, 3.875%, 2/15/31 | 578 | ||||||
1,460 | Vertical U.S. Newco, Inc., Senior Notes, 5.25%, 07/15/27 (g) | 1,528 | ||||||
1,460 | Vertical Holdco GmbH, Senior Notes, 7.625%, 07/15/28 (g) | 1,568 | ||||||
635 | WeWork Companies, Inc, Senior Notes, 7.875%, 05/01/25 (g) | 630 | ||||||
245 | White Cap Buyer, LLC, Senior Notes, 6.875%, 10/15/28 (g) | 259 | ||||||
240 | Williams Scotsman International, Inc, Senio4 Notes, 4.625%, 08/15/28 (g) | 244 | ||||||
19,639 | ||||||||
Supermarkets - 2.26% | ||||||||
1,050 | Albertsons Companies, LLC, Senior Notes, 3.50%, 03/15/29 (g) | 999 |
540 | Albertsons Companies, LLC, Senior Notes, 4.875%, 02/15/30 (g) | 554 | ||||||
545 | Albertsons Companies, LLC, Senior Notes, 5.875%, 02/15/28 (g) | 578 | ||||||
370 | Albertsons Companies, LLC, Senior Notes, 7.45%, 08/01/29 | 433 | ||||||
895 | Albertsons Companies, LLC, Senior Notes, 7.50%, 03/15/26 (g) | 983 | ||||||
220 | Albertsons Companies, LLC, Senior Notes, 8%, 05/01/31 | 270 | ||||||
680 | Iceland Bondco, Plc, Senior Notes, 4.625%, 03/15/25 (GBP) | 924 | ||||||
425 | United Natural Foods, Inc., Senior Notes, 6.75%, 10/15/28 (g) | 454 | ||||||
5,195 | ||||||||
Transportation - .33% | ||||||||
730 | Watco Companies, LLC, Senior Notes, 6.50%, 06/15/27 (g) | 770 | ||||||
Utilities - 4.71% | ||||||||
795 | Calpine Corporation, Senior Notes, 5.125%, 03/15/28 (g) | 799 | ||||||
235 | First Energy Corporation, Senior Notes, 7.375%, 11/15/31 | 313 | ||||||
1,205 | General Electric Company, Senior Notes, 3.514% (h) | 1,139 | ||||||
74 | NextEra Energy Operating Partners, L.P., Senior Notes, 4.25%, 09/15/24 (g) | 78 | ||||||
670 | NextEra Energy Operating Partners, L.P., Senior Notes, 4.50%, 09/15/27 (g) | 721 | ||||||
620 | NiSource, Incorporated, Senior Notes, 5.65%, (h) | 642 | ||||||
1,750 | NRG Energy, Inc., Senior Notes, 5.75%, 01/15/28 | 1,855 | ||||||
540 | NRG Energy, Inc., Senior Notes, 6.625%, 01/15/27 | 562 | ||||||
135 | Pattern Energy Operations L.P., Senior Notes, 4.50%, 08/15/28 (g) | 137 | ||||||
435 | PG&E Corporation, Senior Notes, 5%, 07/01/28 | 458 | ||||||
490 | PG&E Corporation, Senior Notes, 5.25%, 07/01/30 | 518 | ||||||
420 | Pike Corporation, Senior Notes, 5.50%, 09/01/28 (g) | 427 | ||||||
1,795 | TerraForm Global Operating, LLC, Senior Notes 6.125%, 03/01/26 (g) | 1,840 | ||||||
490 | Vistra Operations Company, LLC, Senior Notes, 5%, 07/31/27 (g) | 503 | ||||||
800 | Vistra Operations Company, LLC, Senior Notes, 5.50%, 09/01/26 (g) | 826 | ||||||
10,818 | ||||||||
Wireless Communications - 1.53% | ||||||||
725 | Sprint Capital Corporation, Senior Notes, 6.875%, 11/15/28 | 913 | ||||||
2,194 | Sprint Corporation, Senior Notes, 7.125%, 06/15/24 | 2,524 |
70 | Sprint Corporation, Senior Notes, 7.625%, 02/15/25 | 83 | ||||||
3,520 | ||||||||
Total Corporate Debt Securities (Total cost of $262,140) | 276,227 | |||||||
CONVERTIBLE DEBT SECURITIES - .15% (d)(f) | ||||||||
Energy - .15% | ||||||||
412 | Cheniere Energy, Inc., Senior Notes, 4.25%, 03/15/45 | 336 | ||||||
Total Convertible Debt Securities (Total cost of $283) | 336 | |||||||
BANK DEBT SECURITIES - 9.62% (d)(f) | ||||||||
Aerospace & Defense - .37% | ||||||||
232 | Peraton Holding Corporation, 4.50%, 02/01/28 | 232 | ||||||
408 | Peraton Holding Corporation, 4.50%, 02/01/28 | 408 | ||||||
220 | Peraton Holding Corporation, 8.50%, 02/26/29 | 223 | ||||||
863 | ||||||||
Airlines - .72% | ||||||||
345 | AAdvantage Loyalty IP, Ltd., 5.50%, 04/20/28 | 353 | ||||||
775 | Mileage Plus Holdings, LLC, 6.25%, 6/21/27 | 823 | ||||||
460 | Skymiles IP, Ltd, 4.75%, 10/20/27 | 483 | ||||||
1,659 | ||||||||
Automotive - .16% | ||||||||
365 | Truck Hero Inc., 4.50%, 01/31/28 | 364 | ||||||
Consumer Products - .56% | ||||||||
1,297 | Life Time Fitness, 5.75%, 12/16/24 | 1,294 | ||||||
Energy - 1.12% | ||||||||
1,888 | BCP Raptor, LLC, 5.25%, 6/24/24 | 1,813 | ||||||
345 | Prairie ECI Acquiror, LP, 4.859%, 03/11/26 | 334 | ||||||
428 | Stonepeak Lonestar, 4.726%, 10/19/26 | 428 | ||||||
2,575 | ||||||||
Healthcare - 1.05% | ||||||||
120 | ADMI Corporation, 3.75%, 12/23/27 | 119 | ||||||
560 | ADMI Corporation, 3.25%, 12/23/27 | 555 | ||||||
780 | Gainwell Acquisition Corporation, 4.75%, 10/01/27 | 776 | ||||||
478 | Regional Care Hospital Partners, 3.859%, 11/16/25 | 477 | ||||||
489 | US Radiology Specialists, Inc., 6.25%, 12/10/27 | 489 | ||||||
2,416 | ||||||||
Information Technology - .33% | ||||||||
165 | Epicor Software Corporation, 8.75%, 7/31/28 | 170 | ||||||
565 | RealPage Inc., 7.25%, 03/31/26 | 579 | ||||||
749 | ||||||||
Manufacturing - .33% | ||||||||
755 | Apex Tool Group, LLC, 6.50%, 8/01/24 | 754 |
Satellites - 1.74% | ||||||||
866 | Intelsat Jackson Holdings, S.A., 6.486%, 07/13/22 (b) | 875 | ||||||
1,615 | Intelsat Jackson Holdings, S.A.,8%, 11/27/23 (b) | 1,639 | ||||||
140 | Intelsat Jackson Holdings, S.A., 8.625%, 01/02/24 (b) | 143 | ||||||
1,342 | Iridium Satellite LLC, 3.75%, 11/04/26 | 1,344 | ||||||
4,001 | ||||||||
Services - 2.11% | ||||||||
320 | Renaissance Holding Corp., 7.203%, 05/29/26 | 319 | ||||||
439 | Sabre GLBL, Inc., 4.75%, 12/17/27 | 443 | ||||||
1,551 | Ultimate Software Group, Inc., 4.75, 05/04/26 | 1,549 | ||||||
2,100 | Ultimate Software Group, Inc., 7.50%, 05/03/27 | 2,147 | ||||||
392 | Weight Watchers, 5.50%, 11/29/24 | 391 | ||||||
4,849 | ||||||||
Utilities - .12% | ||||||||
269 | Exgen Renewables IV, LLC, 3.75%, 12/15/27 | 269 | ||||||
Wireless Communications - 1.01% | ||||||||
903 | Asurion LLC, 3.359%, 12/23/26 | 896 | ||||||
885 | Asurion LLC, 3.359%, 07/31/27 | 878 | ||||||
65 | Asurion LLC, 5.377%, 01/31/28 | 66 | ||||||
480 | CCI Buyer, Inc., 4.75%, 12/17/27 | 481 | ||||||
2,321 | ||||||||
Total Bank Debt Securities (Total cost of $21,595) | 22,114 |
Shares | ||||||||
PREFERRED STOCK - 4.39% (d)(f) | ||||||||
Energy - 1.71% | ||||||||
3,750 | Targa Resources Corp., Series A, Cvt, 9.50%, Acquisition Date 10/26/17, Cost $4,133(c) | 3,932 | ||||||
Financial - .14% | ||||||||
325 | Alliant Services, Series A, Cvt, 9.75%, Acquisition Date 11/6/20, Cost $320(c) | 326 | ||||||
Healthcare - .78% | ||||||||
18,683 | Avantor, Inc., Series A, Cvt, 6.25%, 05/15/22 | 1,687 | ||||||
908 | Boston Scientific Corporation, Cvt, 5.50%, 06/01/23 | 97 | ||||||
1,784 | ||||||||
Manufacturing - .39% | ||||||||
694 | Danaher Corporation, Cvt, 5.00%, 04/15/23 | 899 | ||||||
Utilities - 1.37% | ||||||||
21,950 | American Electric Power, Cvt, Series B, 6.125%, 03/15/22 | 1,059 | ||||||
7,682 | American Electric Power, Cvt, Series C, 6.125%, 08/15/23 | 374 | ||||||
22,232 | NextEra Energy, Inc., Cvt, 5.279%, 03/01/23 | 1,101 | ||||||
12,300 | Southern Company, Cvt, 6.75%, 08/01/22 | 627 | ||||||
3,161 |
Total Preferred Stock (Total cost of $9,373) | 10,102 | |||||||
TOTAL INVESTMENTS - 134.34% (d) (Total cost of $293,391) | 308,779 | |||||||
CASH AND OTHER ASSETS | ||||||||
LESS LIABILITIES - (34.34)% (d) | (78,936 | ) | ||||||
NET ASSETS - 100.00% | $ | 229,843 |
(a) | Denotes income is not being accrued. |
(b) | Denotes issuer is in bankruptcy proceedings. |
(c) | Security cannot be offered for public resale without first being registered under the Securities Act of 1933 (restricted security). Total market value of restricted securities (excluding Rule 144A securities) amounted to $4,258 or 1.85% of total net assets as of March 31, 2021. |
(d) | Percentages indicated are based on total net assets to common shareholders of $229,843. |
(e) | Not rated. |
(f) | All of the Fund's investments and other assets are pledged as collateral in accordance with a credit agreement with The Bank of Nova Scotia. |
(g) | Securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers in transactions exempt from registration. Unless otherwise noted, 144A Securities are deemed to be liquid. See notes to the portfolio of investments for valuation policy. Total market value of Rule 144A securities amounted to $199,101 as of March 31, 2021. |
(h) | Perpetual security with no stated maturity date. |
(EUR) Euro
(GBP) British Pound
Derivative Contracts (Unaudited) (Currency Amounts in Thousands)
Forward Currency Exchange Contracts - As of March 31, 2021 the Fund had forward currency exchange contracts outstanding as follows:
Unrealized | |||||||||||||||||||
Settlement | Receive | Appreciation | |||||||||||||||||
Counterparty | Date | (Deliver) | Asset | Liability | (Depreciation) | ||||||||||||||
Canadian Imperial Bank of Commerce | 4/30/21 | EUR | (310 | ) | 367 | 364 | 3 | ||||||||||||
JP Morgan | 4/30/21 | EUR | (315 | ) | 372 | 369 | 3 | ||||||||||||
JP Morgan | 4/30/21 | EUR | (315 | ) | 372 | 369 | 3 | ||||||||||||
Bank of America | 4/30/21 | GBP | (967 | ) | 1,332 | 1,333 | (1 | ) | |||||||||||
Net unrealized gain on open forward currency exchange contracts | $ | 8 |
The New America High Income Fund, Inc.
Notes to Portfolio of Investments
March 31, 2021 (Unaudited)
The New America High Income Fund, Inc. (the Fund) was organized as a corporation in the state of Maryland on November 19, 1987 and is registered with the Securities and Exchange Commission as a diversified, closed-end investment company under the Investment Company Act of 1940. The Fund follows the Investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standard Codification topic 946 “financial services investment companies”.
Valuation of Investments—Except as otherwise described below, the Fund's investments are valued based on evaluated bid prices provided by an independent pricing service. Independent pricing services provide prices based primarily on quotations from dealers and brokers, market transactions, data accessed from quotations services, offering sheets obtained from dealers and various relationships among similar securities. Investments whose primary market is on an exchange are valued at the last sale price on the day of valuation. Short-term investments with original maturities of 60 days or less are stated at amortized cost, which approximates the fair value of such investments. Following procedures approved by the Board of Directors, investments for which market prices are not yet provided by an independent pricing service (primarily newly issued fixed-income corporate bonds and notes) shall be valued at the most recently quoted bid price provided by a principal market maker for the security. Other investments, for which market quotations are not readily available are valued in good faith at fair value using methods approved by the Board of Directors. Fair value measurement is further discussed in this footnote.
Foreign Currency—Investment securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the date of valuation.
Foreign Currency Forward Exchange Contracts—The Fund may enter into foreign currency forward exchange contracts to hedge against foreign currency exchange rate risks on its non-U.S. dollar denominated investment securities. When entering into a forward currency contract, the Fund agrees to receive or deliver a fixed quantity of foreign currency for an agreed upon price on an agreed future date.
Fair Value Measurement—The Fund applies ASC 820 “Fair Value Measurements and Disclosures”. This standard establishes the definition of fair value, sets out a framework for measuring fair value and requires additional disclosures about fair value measurements.
The three levels of the fair value hierarchy under ASC 820 are described below:
Level 1—Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.
Level 2—Observable inputs other than quoted prices included in level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.
Level 3—Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.
The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. 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 level in the fair value hierarchy within which the fair value measurement falls in its entirety, is determined based on the lowest level input that is significant to the fair value measurement in its entirety.
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
A description of the valuation techniques applied to the Fund’s major asset and liability categories is as follows.
Debt securities (corporate, convertible & bank debt). The fair value of debt securities is provided by independent pricing services using quotations from dealers and brokers, market transactions, data from quotations services, offering sheets and various relationships between securities. While most corporate bonds are categorized in level 2 of the fair value hierarchy, there may be instances where less observable inputs necessitate a level 3 categorization.
Equity securities (preferred and common stock). Equity securities for which the primary market is on an exchange will be valued at the last sale price on the day of valuation and are categorized in level 1 of the fair value hierarchy. Other equity securities traded in inactive markets or valued by independent pricing services using methods similar to debt securities are categorized in level 2. The fair value of equity securities in which observable inputs are unavailable are categorized in level 3.
Short-term investments. Short-term investments are valued using amortized cost, which approximates fair value. To the extent the inputs are observable and timely the values would be categorized in level 2 of the fair value hierarchy.
Forwards are valued at the unrealized gain or loss on the contract as measured by the difference between the forward exchange rates at the date of entry into the contract and the forward rates at the reporting date. Forwards are categorized in level 2 of the fair value hierarchy.
The following is a summary of the inputs used as of March 31, 2021 in valuing the Fund’s investments:
Level 1 | Level 2 | Level 3 | Total Value | ||||||||||
Quoted Prices (000’s) | Significant Observable Inputs (000’s) | Significant Unobservable Inputs (000’s) | (000’s) | ||||||||||
Investments | |||||||||||||
Debt Securities* | $ | — | $ | 298,677 | — | $ | 298,677 | ||||||
Preferred Stock | |||||||||||||
Energy | — | 3932 | — | 3932 | |||||||||
Financial | — | 326 | — | 326 | |||||||||
Healthcare | 1784 | — | — | 1784 | |||||||||
Manufacturing | 899 | — | — | 899 | |||||||||
Utilities | 2787 | 374 | — | 3161 | |||||||||
Total Investments | $ | 5470 | $ | 303,309 | $ | — | $ | 308,779 |
Level 1 | Level 2 | Level 3 | Total Value | ||||||||||
Quoted Prices (000’s) | Significant Observable Inputs (000’s) | Significant Unobservable Inputs (000’s) | (000’s) | ||||||||||
Forward Currency Exchange Contracts | $ | — | $ | 8 | $ | — | $ | 8 |
* Debt Securities — Type of debt and industries are shown on the Schedule of Investments.
The Fund owned no Level 3 securities at March 31, 2021.
The following is a reconciliation of Fund investments using Level 3 inputs for the period:
Value (000’s) | ||||
Balance, December 31, 2020 | $ | 320 | ||
Net purchases/(sales) | — | |||
Transfers in/(out) of Level 3 | (326 | ) | ||
Change in unrealized appreciation (depreciation) | 6 | |||
Balance, March 31, 2021 | $ | — |
Level 1 and Level 2 assets are evaluated on a quarterly basis for changes in listings or delistings on national exchanges.
Transfers between levels are recognized at the value at the end of the reporting period. During the three months ended March 31, 2021, the Fund recognized no transfers between Levels 1 and 2. During the three months ended March 31, 2021, securities with a market value of 326 transferred from Level 3 to Level 2 as there were observable inputs available to determine value.