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

AB Global High Income Fund

Portfolio of Investments

June 30, 2024 (unaudited)


	Principal Amount (000)			U.S. $ Value

CORPORATES - NON-INVESTMENT GRADE – 55.7%
Industrial – 49.0%
Basic – 3.8%
Advanced Drainage Systems, Inc. 5.00%, 09/30/2027^(a)^(b)		U.S.$	140	$	136,967
6.375%, 06/15/2030^(b)			364		364,769
Arsenal AIC Parent LLC 8.00%, 10/01/2030^(b)			728		764,220
ASP Unifrax Holdings, Inc. 5.25%, 09/30/2028^(b)			2,382		1,304,258
7.50%, 09/30/2029^(b)^(c)			1,244		629,009
Baffinland Iron Mines Corp./Baffinland Iron Mines LP 8.75%, 07/15/2026^(b)			373		335,981
Chemours Co. (The) 5.75%, 11/15/2028^(b)			484		447,164
Cleveland-Cliffs, Inc. 7.00%, 03/15/2032^(b)			2,917		2,888,291
Constellium SE 3.125%, 07/15/2029^(b)		EUR	1,109		1,107,331
CVR Partners LP/CVR Nitrogen Finance Corp. 6.125%, 06/15/2028^(b)		U.S.$	360		346,011
Domtar Corp. 6.75%, 10/01/2028^(b)			404		360,382
Element Solutions, Inc. 3.875%, 09/01/2028^(b)			1,370		1,260,017
ERP Iron Ore LLC 9.04%, 12/31/2019^(d)^{(e) (f) (g) (h)}			240		0
FMG Resources August 2006 Pty Ltd. 4.375%, 04/01/2031^(b)			2,125		1,899,350
4.50%, 09/15/2027^(b)			819		782,280
5.875%, 04/15/2030^(b)			86		84,094
6.125%, 04/15/2032^(b)			2,651		2,620,906
Glatfelter Corp. 4.75%, 11/15/2029^(b)			77		63,707
Graham Packaging Co., Inc. 7.125%, 08/15/2028^(b)			681		643,376
Graphic Packaging International LLC 3.50%, 03/15/2028^(b)			502		462,935
3.75%, 02/01/2030^(b)			1,661		1,481,408
6.375%, 07/15/2032^(b)			1,662		1,662,389
Hecla Mining Co. 7.25%, 02/15/2028			282		282,661
INEOS Finance PLC 6.375%, 04/15/2029^(b)		EUR	1,160		1,277,635
7.50%, 04/15/2029^(b)		U.S.$	848		856,707
INEOS Quattro Finance 2 PLC 8.50%, 03/15/2029^(b)		EUR	1,726		1,952,763
9.625%, 03/15/2029^(b)		U.S.$	548		580,947
INEOS Styrolution Ludwigshafen GmbH 2.25%, 01/16/2027^(b)		EUR	104		104,230
Ingevity Corp. 3.875%, 11/01/2028^(b)		U.S.$	495		449,651
Intelligent Packaging Holdco Issuer LP 9.00% (9.00% Cash or 9.75% PIK), 01/15/2026^{(b) (d)}			611		584,292
Intelligent Packaging Ltd. Finco, Inc./Intelligent Packaging Ltd. Co-Issuer LLC 6.00%, 09/15/2028^(b)			361		349,697
Kaiser Aluminum Corp. 4.625%, 03/01/2028^(b)			421		393,773
Magnetation LLC/Mag Finance Corp. 11.00%, 05/15/2018^(e)^{(f) (g) (h) (i)}			2,857		0
Mineral Resources Ltd. 8.00%, 11/01/2027^(b)			376		383,113
8.125%, 05/01/2027^(b)			158		159,497


	Principal Amount (000)			U.S. $ Value

Olympus Water US Holding Corp. 9.75%, 11/15/2028^(b)		U.S.$	1,750	$	1,853,848
Roller Bearing Co. of America, Inc. 4.375%, 10/15/2029^(b)			143		131,693
SCIL IV LLC/SCIL USA Holdings LLC 4.375%, 11/01/2026^(b)		EUR	320		339,012
5.375%, 11/01/2026^(b)		U.S.$	1,435		1,385,607
Sealed Air Corp./Sealed Air Corp. US 6.125%, 02/01/2028^(b)			520		521,439
SNF Group SACA 3.125%, 03/15/2027^(b)			655		602,581
3.375%, 03/15/2030^(b)			951		821,094
SunCoke Energy, Inc. 4.875%, 06/30/2029^(b)			395		358,075
Trinseo Materials Operating SCA/Trinseo Materials Finance, Inc. 5.375%, 09/01/2025^(b)			58		47,668
Vallourec SACA 7.50%, 04/15/2032^(b)			675		698,366
Vibrantz Technologies, Inc. 9.00%, 02/15/2030^(b)			1,887		1,726,259
WR Grace Holdings LLC 4.875%, 06/15/2027^(b)			1,186		1,144,927

					36,650,380


Capital Goods – 4.3%
ARD Finance SA 5.00% (5.00% Cash or 5.75% PIK), 06/30/2027^(b) (d)		EUR	3,069		706,224
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC 4.00%, 09/01/2029^(b)		U.S.$	985		834,748
6.00%, 06/15/2027^(b)			1,156		1,132,880
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc. 2.125%, 08/15/2026^(b)		EUR	1,442		1,278,108
4.125%, 08/15/2026^(b)		U.S.$	555		481,782
Ball Corp. 6.00%, 06/15/2029			1,607		1,615,610
6.875%, 03/15/2028			569		583,942
Bombardier, Inc. 7.25%, 07/01/2031^(b)			862		884,973
7.875%, 04/15/2027^(b)			599		600,875
8.75%, 11/15/2030^(b)			1,295		1,400,083
Calderys Financing LLC 11.25%, 06/01/2028^(b)			2,089		2,212,336
Camelot Return Merger Sub, Inc. 8.75%, 08/01/2028^(b)			386		378,616
Clean Harbors, Inc. 4.875%, 07/15/2027^(b)			457		442,450
Crown Americas LLC 5.25%, 04/01/2030			411		397,427
Eco Material Technologies, Inc. 7.875%, 01/31/2027^(b)			2,786		2,792,867
EnerSys 4.375%, 12/15/2027^(b)			935		886,078
Enviri Corp. 5.75%, 07/31/2027^(b)			1,384		1,315,250
Esab Corp. 6.25%, 04/15/2029^(b)			654		658,188
F-Brasile SpA/F-Brasile US LLC Series XR 7.375%, 08/15/2026^(b)			957		953,869
GFL Environmental, Inc. 6.75%, 01/15/2031^(b)			523		534,216
Griffon Corp. 5.75%, 03/01/2028			1,079		1,041,639
LSB Industries, Inc. 6.25%, 10/15/2028^(a) (b)			1,348		1,300,419
Madison IAQ LLC 5.875%, 06/30/2029^(b)			359		334,262
Maxim Crane Works Holdings Capital LLC 11.50%, 09/01/2028^(b)			340		351,227


	Principal Amount (000)			U.S. $ Value

MIWD Holdco II LLC/MIWD Finance Corp. 5.50%, 02/01/2030^(b)		U.S.$	1,879	$	1,737,678
Moog, Inc. 4.25%, 12/15/2027^(b)			379		359,373
Mueller Water Products, Inc. 4.00%, 06/15/2029^(b)			291		266,583
Oscar AcquisitionCo LLC/Oscar Finance, Inc. 9.50%, 04/15/2030^(b)			372		353,289
Paprec Holding SA 7.25%, 11/17/2029^(b)		EUR	569		639,230
Terex Corp. 5.00%, 05/15/2029^(b)		U.S.$	389		368,796
TK Elevator Midco GmbH 4.375%, 07/15/2027^(b)		EUR	585		603,755
TK Elevator US Newco, Inc. 5.25%, 07/15/2027^(b)		U.S.$	306		296,672
TransDigm, Inc. 4.625%, 01/15/2029			1,542		1,440,825
4.875%, 05/01/2029			1,954		1,830,744
6.75%, 08/15/2028^(b)			2,508		2,541,207
7.125%, 12/01/2031^(b)			3,137		3,237,856
Trinity Industries, Inc. 7.75%, 07/15/2028^(b)			1,388		1,435,874
Triumph Group, Inc. 9.00%, 03/15/2028^(b)			2,011		2,109,946
WESCO Distribution, Inc. 6.375%, 03/15/2029^(b)			371		372,484

					40,712,381


Communications - Media – 6.8%
Advantage Sales & Marketing, Inc. 6.50%, 11/15/2028^(b)			706		639,071
Altice Financing SA 5.00%, 01/15/2028^(b)			516		391,308
5.75%, 08/15/2029^(b)			2,724		1,979,156
AMC Networks, Inc. 4.25%, 02/15/2029			1,084		731,690
10.25%, 01/15/2029^(b)			1,991		1,960,927
Arches Buyer, Inc. 6.125%, 12/01/2028^(b)			957		794,277
Banijay Entertainment SASU 7.00%, 05/01/2029^(b)		EUR	603		673,229
8.125%, 05/01/2029^(b)		U.S.$	805		825,949
CCO Holdings LLC/CCO Holdings Capital Corp. 4.25%, 02/01/2031^(b)			2,762		2,254,396
4.50%, 08/15/2030^(b)			4,665		3,944,787
4.50%, 06/01/2033^(b)			2,851		2,242,752
4.75%, 02/01/2032^(b)			7,063		5,784,024
6.375%, 09/01/2029^(b)			1,760		1,669,293
Clear Channel Outdoor Holdings, Inc. 5.125%, 08/15/2027^(b)			512		489,076
CMG Media Corp. 8.875%, 12/15/2027^(b)			204		116,348
CSC Holdings LLC 4.50%, 11/15/2031^(b)			981		632,983
4.625%, 12/01/2030^(b)			1,142		417,302
5.375%, 02/01/2028^(b)			2,435		1,849,494
5.50%, 04/15/2027^(b)			1,803		1,463,427
5.75%, 01/15/2030^(b)			5,261		1,982,982
6.50%, 02/01/2029^(b)			286		209,227
7.50%, 04/01/2028^(b)			1,032		546,910
11.25%, 05/15/2028^(b)			824		719,905
11.75%, 01/31/2029^(b)			581		496,097
Deluxe Corp. 8.00%, 06/01/2029^(b)			17		15,945
DISH DBS Corp. 5.125%, 06/01/2029			2,807		1,104,987
5.25%, 12/01/2026^(b)			3,571		2,820,840
5.75%, 12/01/2028^(b)			2,596		1,786,262
5.875%, 11/15/2024^(c)			1,821		1,737,061
7.75%, 07/01/2026			274		170,096


	Principal Amount (000)			U.S. $ Value

Gray Television, Inc. 5.375%, 11/15/2031^(b)		U.S.$	671	$	380,841
LCPR Senior Secured Financing DAC 5.125%, 07/15/2029^(b)			2,910		2,415,824
6.75%, 10/15/2027^(b)			1,366		1,280,320
Lions Gate Capital Holdings LLC 5.50%, 04/15/2029^(b)			461		298,617
McGraw-Hill Education, Inc. 5.75%, 08/01/2028^(b)			1,123		1,083,147
Neptune Bidco US, Inc. 9.29%, 04/15/2029^(b)			2,588		2,477,847
Outfront Media Capital LLC/Outfront Media Capital Corp. 4.625%, 03/15/2030^(b)			376		338,641
Paramount Global 6.25%, 02/28/2057			423		346,295
6.375%, 03/30/2062			1,344		1,185,275
Radiate Holdco LLC/Radiate Finance, Inc. 4.50%, 09/15/2026^(b)			1,871		1,427,319
Sinclair Television Group, Inc. 4.125%, 12/01/2030^(b)			697		466,990
5.50%, 03/01/2030^(b)			366		221,864
Sirius XM Radio, Inc. 4.00%, 07/15/2028^(b)			2,440		2,204,365
Summer BC Holdco B SARL 5.75%, 10/31/2026^(b)		EUR	1,395		1,475,877
TEGNA, Inc. 5.00%, 09/15/2029		U.S.$	333		293,835
Townsquare Media, Inc. 6.875%, 02/01/2026^(b)			113		111,316
Univision Communications, Inc. 6.625%, 06/01/2027^(b)			1,593		1,527,361
7.375%, 06/30/2030^(b)			1,186		1,106,407
8.00%, 08/15/2028^(b)			1,261		1,228,898
8.50%, 07/31/2031^(b)			1,328		1,290,191
Urban One, Inc. 7.375%, 02/01/2028^(b)			2,526		1,930,749
VZ Vendor Financing II BV 2.875%, 01/15/2029^(b)		EUR	885		817,829
Ziggo Bond Co. BV 5.125%, 02/28/2030^(b)		U.S.$	1,124		956,255

					65,315,864


Communications - Telecommunications – 2.5%
Altice France Holding SA 4.00%, 02/15/2028^(b)		EUR	332		102,307
6.00%, 02/15/2028^(b)		U.S.$	359		116,307
10.50%, 05/15/2027^(b)			2,710		1,048,727
Altice France SA 3.375%, 01/15/2028^(b)		EUR	885		658,895
5.125%, 01/15/2029^(b)		U.S.$	391		259,867
5.125%, 07/15/2029^(b)			5,220		3,434,722
5.50%, 01/15/2028^(b)			492		336,683
5.50%, 10/15/2029^(b)			1,761		1,161,243
8.125%, 02/01/2027^(b)			1,393		1,044,774
Connect Finco SARL/Connect US Finco LLC 6.75%, 10/01/2026^(b)			485		468,457
Consolidated Communications, Inc. 6.50%, 10/01/2028^(b)			446		382,144
Embarq Corp. 7.995%, 06/01/2036			984		128,286
Frontier Communications Holdings LLC 6.75%, 05/01/2029^(b)			888		814,429
Hughes Satellite Systems Corp. 5.25%, 08/01/2026			557		431,032
Level 3 Financing, Inc. 3.40%, 03/01/2027^(b)			1		526
4.625%, 09/15/2027^(b)			1,451		757,235


	Principal Amount (000)			U.S. $ Value

Lorca Telecom Bondco SA 4.00%, 09/18/2027^(b)		EUR	852	$	889,931
Telecom Italia Capital SA 6.00%, 09/30/2034		U.S.$	542		488,903
7.20%, 07/18/2036^(b)			259		266,925
7.72%, 06/04/2038^(b)			1,055		1,110,252
7.72%, 06/04/2038			527		514,755
United Group BV 3.625%, 02/15/2028^(b)		EUR	237		238,730
4.625%, 08/15/2028^(b)			481		495,616
6.75%, 02/15/2031^(b)			616		676,166
8.08% (EURIBOR 3 Month + 4.25%), 02/01/2029^(b)^(j)			539		581,063
Vmed O2 UK Financing I PLC 4.25%, 01/31/2031^(b)		U.S.$	530		440,489
4.75%, 07/15/2031^(b)			3,639		3,071,184
7.75%, 04/15/2032^(b)			2,512		2,450,024
Vodafone Group PLC 4.125%, 06/04/2081			708		601,882
Windstream Escrow LLC/Windstream Escrow Finance Corp. 7.75%, 08/15/2028^(b)			428		403,229
Zayo Group Holdings, Inc. 4.00%, 03/01/2027^(b)			464		369,278
6.125%, 03/01/2028^(b)			128		84,329

					23,828,390


Consumer Cyclical - Automotive – 2.7%
Adient Global Holdings Ltd. 8.25%, 04/15/2031^(b)			432		450,818
Allison Transmission, Inc. 3.75%, 01/30/2031^(b)			517		453,514
Aston Martin Capital Holdings Ltd. 10.00%, 03/31/2029^(b)			1,680		1,653,517
Dana Financing Luxembourg SARL 5.75%, 04/15/2025^(b)			55		54,889
Dana, Inc. 4.25%, 09/01/2030			760		663,050
5.375%, 11/15/2027			109		106,667
5.625%, 06/15/2028			182		176,428
Exide Technologies 11.00%, 10/31/2024^(e)^{(g) (h) (i) (k)}			4,147		0
Garrett Motion Holdings, Inc./Garrett LX I SARL 7.75%, 05/31/2032^(b)			3,089		3,136,944
IHO Verwaltungs GmbH 3.75% (3.75% Cash or 4.50% PIK), 09/15/2026^{(b) (d)}		EUR	885		933,523
3.875% (3.875% Cash or 4.625% PIK), 05/15/2027^(b)^(d)			338		355,110
6.00% (6.00% Cash or 6.75% PIK), 05/15/2027^{(b) (d)}		U.S.$	1,984		1,954,993
8.75% (8.75% Cash or 9.50% PIK), 05/15/2028^{(b) (d)}		EUR	306		350,497
Jaguar Land Rover Automotive PLC 5.50%, 07/15/2029^(b)		U.S.$	1,206		1,156,879
5.875%, 01/15/2028^(b)			1,186		1,163,035
Mclaren Finance PLC 7.50%, 08/01/2026^(b)			1,973		1,718,265
PM General Purchaser LLC 9.50%, 10/01/2028^(b)			1,250		1,274,997
Real Hero Merger Sub 2, Inc. 6.25%, 02/01/2029^(b)			1,530		1,305,464
Tenneco, Inc. 8.00%, 11/17/2028^(b)			2,777		2,525,870
Titan International, Inc. 7.00%, 04/30/2028			1,465		1,408,629
ZF Finance GmbH Series E 2.00%, 05/06/2027^(b)		EUR	200		199,765
2.75%, 05/25/2027^(b)			900		916,230


	Principal Amount (000)			U.S. $ Value

ZF North America Capital, Inc.
4.75%, 04/29/2025^(b)		U.S.$	2,357	$	2,326,342
6.75%, 04/23/2030^(b)			433		441,374
6.875%, 04/14/2028^(b)			504		514,017
6.875%, 04/23/2032^(b)			433		447,698
7.125%, 04/14/2030^(b)			504		521,442

					26,209,957


Consumer Cyclical - Entertainment – 1.7%
Cedar Fair LP 5.25%, 07/15/2029			85		81,410
Cinemark USA, Inc. 5.25%, 07/15/2028^(b)			510		487,238
Lindblad Expeditions LLC 6.75%, 02/15/2027^(b)			365		360,333
Merlin Entertainments Group US Holdings, Inc. 7.375%, 02/15/2031^(b)			1,076		1,096,656
Motion Bondco DAC 4.50%, 11/15/2027^(b)		EUR	670		680,161
NCL Corp., Ltd. 5.875%, 03/15/2026^(b)		U.S.$	545		538,869
5.875%, 02/15/2027^(b)			80		78,970
8.125%, 01/15/2029^(b)			922		966,668
Royal Caribbean Cruises Ltd. 5.375%, 07/15/2027^(b)			2,008		1,977,910
5.50%, 08/31/2026^(b)			948		936,281
5.50%, 04/01/2028^(b)			4,222		4,169,008
Six Flags Entertainment Corp. 7.25%, 05/15/2031^(b)			1,082		1,099,642
Viking Cruises Ltd. 7.00%, 02/15/2029^(b)			1,752		1,761,372
9.125%, 07/15/2031^(b)			83		89,832
VOC Escrow Ltd. 5.00%, 02/15/2028^(b)			1,749		1,695,975

					16,020,325


Consumer Cyclical - Other – 3.0%
Affinity Interactive 6.875%, 12/15/2027^(b)			396		349,859
Brookfield Residential Properties, Inc./Brookfield Residential US LLC 4.875%, 02/15/2030^(b)			1,116		998,722
6.25%, 09/15/2027^(b)			1,411		1,388,499
Builders FirstSource, Inc. 5.00%, 03/01/2030^(b)			466		441,070
6.375%, 03/01/2034^(b)			1,061		1,050,236
Century Communities, Inc. 3.875%, 08/15/2029^(b)			406		361,771
Churchill Downs, Inc. 4.75%, 01/15/2028^(b)			491		469,580
Cirsa Finance International SARL 6.50%, 03/15/2029^(b)		EUR	559		616,664
Forestar Group, Inc. 3.85%, 05/15/2026^(b)		U.S.$	385		368,726
Hilton Domestic Operating Co., Inc. 3.625%, 02/15/2032^(b)			1,538		1,331,729
3.75%, 05/01/2029^(b)			699		640,705
5.875%, 04/01/2029^(b)			1,286		1,286,858
6.125%, 04/01/2032^(b)			738		741,148
Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Esc 4.875%, 07/01/2031^(b)			560		495,090
5.00%, 06/01/2029^(b)			1,598		1,490,158
Installed Building Products, Inc. 5.75%, 02/01/2028^(b)			291		284,623
Jacobs Entertainment, Inc. 6.75%, 02/15/2029^(b)			2		1,861
Marriott Ownership Resorts, Inc. 4.50%, 06/15/2029^(b)			95		87,256


	Principal Amount (000)			U.S. $ Value

Masterbrand, Inc. 7.00%, 07/15/2032^(b)		U.S.$	1,047	$	1,058,706
Mattamy Group Corp. 4.625%, 03/01/2030^(b)			55		50,713
MGM Resorts International 4.625%, 09/01/2026			5		4,871
4.75%, 10/15/2028			1,047		996,673
5.50%, 04/15/2027			1,163		1,149,001
5.75%, 06/15/2025			30		29,910
Miller Homes Group Finco PLC 7.00%, 05/15/2029^(b)		GBP	679		798,492
9.08% (EURIBOR 3 Month + 5.25%), 05/15/2028^(b)^(j)		EUR	514		550,506
Miter Brands Acquisition Holdco, Inc./MIWD Borrower LLC 6.75%, 04/01/2032^(b)		U.S.$	361		363,567
Mohegan Tribal Gaming Authority 8.00%, 02/01/2026^(b)			459		433,204
Playtech PLC 4.25%, 03/07/2026^(b)		EUR	101		106,235
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp. 5.625%, 09/01/2029^(b)		U.S.$	527		377,818
Shea Homes LP/Shea Homes Funding Corp. 4.75%, 04/01/2029			911		847,254
Standard Industries, Inc./NJ 4.375%, 07/15/2030^(b)			705		636,907
Sugarhouse HSP Gaming Prop Mezz LP/Sugarhouse HSP Gaming Finance Corp. 5.875%, 05/15/2025^(b)			1,785		1,773,758
Taylor Morrison Communities, Inc. 5.125%, 08/01/2030^(b)			92		88,177
5.75%, 01/15/2028^(b)			376		372,728
5.875%, 06/15/2027^(b)			83		82,600
Thor Industries, Inc. 4.00%, 10/15/2029^(b)			416		367,399
TopBuild Corp. 4.125%, 02/15/2032^(b)			418		368,122
Travel & Leisure Co. 4.50%, 12/01/2029^(b)			911		837,900
4.625%, 03/01/2030^(b)			2,415		2,197,321
6.625%, 07/31/2026^(b)			637		641,840
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp. 5.25%, 05/15/2027^(b)			781		761,781
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp. 5.125%, 10/01/2029^(b)			1,988		1,892,491

					29,192,529


Consumer Cyclical - Restaurants – 0.5%
1011778 BC ULC/New Red Finance, Inc. 3.875%, 01/15/2028^(b)			2,025		1,896,107
4.375%, 01/15/2028^(b)			118		111,362
6.125%, 06/15/2029^(b)			2,000		2,006,550
CEC Entertainment LLC 6.75%, 05/01/2026^(b)			382		378,881

					4,392,900


Consumer Cyclical - Retailers – 2.9%
Arko Corp. 5.125%, 11/15/2029^(b)			1,035		901,675
Asbury Automotive Group, Inc. 4.625%, 11/15/2029^(b)			858		794,608
5.00%, 02/15/2032^(b)			827		748,922
Bath & Body Works, Inc. 5.25%, 02/01/2028			5		4,859
6.75%, 07/01/2036			98		97,485
6.875%, 11/01/2035			519		523,359
7.60%, 07/15/2037			261		250,492
9.375%, 07/01/2025^(b)			41		42,364


	Principal Amount (000)			U.S. $ Value

BCPE Ulysses Intermediate, Inc. 7.75% (7.75% Cash or 8.50% PIK), 04/01/2027^(b) (d)		U.S.$	518	$	504,444
Beacon Roofing Supply, Inc. 6.50%, 08/01/2030^(b)			698		703,511
Carvana Co. 5.50%, 04/15/2027^(b)			415		354,458
12.00% (12.00% PIK), 12/01/2028^(a)^(b) (d)			992		1,069,846
Cougar JV Subsidiary LLC 8.00%, 05/15/2032^(b)			1,327		1,371,274
CT Investment GmbH 6.375%, 04/15/2030^(b)		EUR	516		561,709
eG Global Finance PLC 12.00%, 11/30/2028^(b)		U.S.$	392		417,280
FirstCash, Inc. 6.875%, 03/01/2032^(b)			1,871		1,870,655
Gap, Inc. (The) 3.625%, 10/01/2029^(b)			371		320,835
3.875%, 10/01/2031^(b)			95		79,270
Global Auto Holdings Ltd/AAG FH UK Ltd. 8.375%, 01/15/2029^(b)			1,703		1,657,197
8.75%, 01/15/2032^(b)			835		798,097
Group 1 Automotive, Inc. 4.00%, 08/15/2028^(b)			525		484,595
Guitar Center, Inc. 8.50%, 01/15/2026^(b)			396		356,682
Hanesbrands, Inc. 9.00%, 02/15/2031^(b)			407		426,494
Kontoor Brands, Inc. 4.125%, 11/15/2029^(b)			894		809,357
LBM Acquisition LLC 6.25%, 01/15/2029^(b)			81		71,539
LCM Investments Holdings II LLC 4.875%, 05/01/2029^(b)			92		85,953
8.25%, 08/01/2031^(b)			727		759,419
Michaels Cos., Inc. (The) 5.25%, 05/01/2028^(b)			1,924		1,536,169
7.875%, 05/01/2029^(b)			1,248		807,741
Murphy Oil USA, Inc. 3.75%, 02/15/2031^(b)			460		405,318
4.75%, 09/15/2029			16		15,156
NMG Holding Co., Inc./Neiman Marcus Group LLC 7.125%, 04/01/2026^(b)			724		716,605
Nordstrom, Inc. 5.00%, 01/15/2044			4		3,237
Penske Automotive Group, Inc. 3.75%, 06/15/2029			903		815,062
PetSmart, Inc./PetSmart Finance Corp. 7.75%, 02/15/2029^(b)			502		488,408
QVC, Inc. 4.375%, 09/01/2028			5		3,648
4.75%, 02/15/2027			474		400,287
Sonic Automotive, Inc. 4.625%, 11/15/2029^(b)			1,674		1,512,147
4.875%, 11/15/2031^(b)			144		126,661
Specialty Building Products Holdings LLC/SBP Finance Corp. 6.375%, 09/30/2026^(b)			418		410,792
Staples, Inc. 10.75%, 09/01/2029^(b)			2,506		2,382,336
12.75%, 01/15/2030^(b)			1,061		825,218
Victra Holdings LLC/Victra Finance Corp. 7.75%, 02/15/2026^(b)			378		375,727
White Cap Buyer LLC 6.875%, 10/15/2028^(b)			161		155,447
White Cap Parent LLC 8.25% (8.25% Cash or 9.00% PIK), 03/15/2026^(b) (d)			329		328,811

					27,375,149


	Principal Amount (000)			U.S. $ Value

Consumer Non - Cyclical – 6.8%
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC 4.625%, 01/15/2027^(b)		U.S.$	615	$	594,432
6.50%, 02/15/2028^(b)			2,469		2,481,013
Bausch & Lomb Corp. 8.375%, 10/01/2028^(b)			2,278		2,335,143
Bausch Health Americas, Inc. 8.50%, 01/31/2027^(b)			543		378,384
Bausch Health Cos., Inc. 4.875%, 06/01/2028^(b)			2,751		2,059,061
5.25%, 01/30/2030^(b)			8		3,739
5.50%, 11/01/2025^(b)			265		247,258
5.75%, 08/15/2027^(b)			70		55,973
6.125%, 02/01/2027^(b)			399		333,664
6.25%, 02/15/2029^(b)			911		463,728
7.25%, 05/30/2029^(b)			254		131,330
11.00%, 09/30/2028^(b)			384		342,272
CAB SELAS 3.375%, 02/01/2028^(b)		EUR	1,880		1,796,175
Cheplapharm Arzneimittel GmbH 5.50%, 01/15/2028^(b)		U.S.$	393		364,977
7.50%, 05/15/2030^(b)		EUR	770		861,043
CHS/Community Health Systems, Inc. 4.75%, 02/15/2031^(b)		U.S.$	493		387,606
5.625%, 03/15/2027^(b)			1,371		1,275,647
6.00%, 01/15/2029^(b)			1,466		1,292,645
6.125%, 04/01/2030^(b)			3,640		2,539,120
6.875%, 04/01/2028^(b)			213		158,901
6.875%, 04/15/2029^(b)			1,328		1,017,068
10.875%, 01/15/2032^(b)			140		145,884
Concentra Escrow Issuer Corp. 6.875%, 07/15/2032^(b)			334		338,630
DaVita, Inc. 3.75%, 02/15/2031^(b)			816		696,540
4.625%, 06/01/2030^(b)			3,975		3,596,956
Edgewell Personal Care Co. 4.125%, 04/01/2029^(b)			2		1,839
Elanco Animal Health, Inc. 6.65%, 08/28/2028^(a)			1,496		1,514,765
Embecta Corp. 5.00%, 02/15/2030^(b)			2,586		2,130,419
Emergent BioSolutions, Inc. 3.875%, 08/15/2028^(b)			1,516		982,674
Encompass Health Corp. 4.50%, 02/01/2028			502		477,702
Endo Finance Holdings, Inc. 8.50%, 04/15/2031^(b)			1,024		1,059,247
Fortrea Holdings, Inc. 7.50%, 07/01/2030^(b)			406		403,733
Global Medical Response, Inc. 10.00%, 10/31/2028^(b)^(d)			312		304,475
Grifols SA 3.875%, 10/15/2028^(b)		EUR	3,256		2,858,669
4.75%, 10/15/2028^(b)^(c)		U.S.$	804		693,411
Gruenenthal GmbH 4.125%, 05/15/2028^(b)		EUR	758		792,104
6.75%, 05/15/2030^(b)			367		412,913
Herbalife Nutrition Ltd./HLF Financing, Inc. 7.875%, 09/01/2025^(b)		U.S.$	190		186,570
HLF Financing SARL LLC/Herbalife International, Inc. 12.25%, 04/15/2029^(b)			251		249,901


	Principal Amount (000)			U.S. $ Value

Iceland Bondco PLC 9.33% (EURIBOR 3 Month + 5.50%), 12/15/2027^(b)^(j)		EUR	385	$	415,829
10.875%, 12/15/2027^(b)		GBP	162		213,117
IQVIA, Inc. 2.25%, 03/15/2029^(b)		EUR	862		835,459
Kronos Acquisition Holdings, Inc./KIK Custom Products, Inc. 7.00%, 12/31/2027^(b)		U.S.$	1,929		1,996,515
Lamb Weston Holdings, Inc. 4.125%, 01/31/2030^(b)			1,062		962,815
Legacy LifePoint Health LLC 4.375%, 02/15/2027^(b)			2,626		2,509,015
Medline Borrower LP 5.25%, 10/01/2029^(b)			3,167		3,018,342
Medline Borrower LP/Medline Co-Issuer, Inc. 6.25%, 04/01/2029^(b)			189		191,109
MPH Acquisition Holdings LLC 5.50%, 09/01/2028^(b)			1,922		1,457,138
5.75%, 11/01/2028^(b)			2,810		1,508,847
Neogen Food Safety Corp. 8.625%, 07/20/2030^(b)			883		953,097
Newell Brands, Inc. 4.875%, 06/01/2025			170		167,643
5.70%, 04/01/2026^(a)			452		446,247
6.375%, 09/15/2027			407		401,193
6.875%, 04/01/2036^(a)			349		312,695
7.00%, 04/01/2046^(a)			377		305,819
Organon & Co./Organon Foreign Debt Co-Issuer BV 2.875%, 04/30/2028^(b)		EUR	885		890,923
4.125%, 04/30/2028^(b)		U.S.$	499		463,453
5.125%, 04/30/2031^(b)			922		827,831
6.75%, 05/15/2034^(b)			1,126		1,124,505
7.875%, 05/15/2034^(b)			716		735,992
Performance Food Group, Inc. 4.25%, 08/01/2029^(b)			92		83,728
Post Holdings, Inc. 4.50%, 09/15/2031^(b)			131		117,404
4.625%, 04/15/2030^(b)			821		754,377
5.50%, 12/15/2029^(b)			529		509,976
Primo Water Holdings, Inc. 4.375%, 04/30/2029^(b)			1,227		1,129,395
Sotera Health Holdings LLC 7.375%, 06/01/2031^(b)			1,245		1,248,289
Spectrum Brands, Inc. 3.875%, 03/15/2031^(b)^(c)			1,170		976,819
Surgery Center Holdings, Inc. 7.25%, 04/15/2032^(b)			837		847,672
Tempur Sealy International, Inc. 3.875%, 10/15/2031^(b)			3		2,536
4.00%, 04/15/2029^(b)			467		421,734
Tenet Healthcare Corp. 4.375%, 01/15/2030			2,307		2,137,747
Triton Water Holdings, Inc. 6.25%, 04/01/2029^(b)			884		851,968
US Acute Care Solutions LLC 9.75%, 05/15/2029^(b)			61		60,172
US Foods, Inc. 4.75%, 02/15/2029^(b)			88		83,478
6.875%, 09/15/2028^(b)			79		80,801
Vector Group Ltd. 5.75%, 02/01/2029^(b)			462		432,921

					65,442,212


Energy – 7.3%
Antero Midstream Partners LP/Antero Midstream Finance Corp. 5.375%, 06/15/2029^(b)			80		77,620
5.75%, 03/01/2027^(b)			80		79,403


	Principal Amount (000)		U.S. $ Value

Ascent Resources Utica Holdings LLC/ARU Finance Corp. 7.00%, 11/01/2026^(b)	U.S.$	3	$	3,005
Berry Petroleum Co. LLC 7.00%, 02/15/2026^(b)		245		242,075
Blue Racer Midstream LLC/Blue Racer Finance Corp. 7.00%, 07/15/2029^(b)		501		510,226
7.25%, 07/15/2032^(b)		444		456,502
Buckeye Partners LP 3.95%, 12/01/2026		91		86,575
4.125%, 03/01/2025^(b)		57		56,206
4.125%, 12/01/2027		490		457,730
4.50%, 03/01/2028^(b)		18		16,917
6.875%, 07/01/2029^(b)		1,575		1,580,508
Chesapeake Energy Corp. 5.875%, 02/01/2029^(b)		287		284,052
6.75%, 04/15/2029^(b)		177		177,165
CITGO Petroleum Corp. 6.375%, 06/15/2026^(b)		471		469,457
7.00%, 06/15/2025^(b)		1,781		1,781,046
8.375%, 01/15/2029^(b)		844		869,956
Civitas Resources, Inc. 5.00%, 10/15/2026^(b)		682		664,419
8.375%, 07/01/2028^(b)		1,185		1,243,322
8.625%, 11/01/2030^(b)		521		559,206
8.75%, 07/01/2031^(b)		1,137		1,217,366
CNX Resources Corp. 6.00%, 01/15/2029^(b)		311		304,980
7.25%, 03/01/2032^(b)		876		892,141
7.375%, 01/15/2031^(b)		507		518,124
Comstock Resources, Inc. 6.75%, 03/01/2029^(b)		294		284,890
Crescent Energy Finance LLC 7.375%, 01/15/2033^(b)		463		463,991
7.625%, 04/01/2032^(b)		258		262,993
9.25%, 02/15/2028^(b)		1,134		1,197,883
CVR Energy, Inc. 8.50%, 01/15/2029^(b)		392		394,082
Encino Acquisition Partners Holdings LLC 8.50%, 05/01/2028^(b)		1,318		1,343,378
Energy Transfer LP 8.00%, 05/15/2054		365		381,945
EnLink Midstream Partners LP Series C 9.71% (CME Term SOFR 3 Month + 4.37%), 07/29/2024^(j)^(l)		2,734		2,706,660
EQM Midstream Partners LP 4.50%, 01/15/2029^(b)		898		847,858
6.375%, 04/01/2029^(b)		315		318,114
Genesis Energy LP/Genesis Energy Finance Corp. 7.75%, 02/01/2028		440		444,868
8.25%, 01/15/2029		1,359		1,402,333
Global Partners LP/GLP Finance Corp. 6.875%, 01/15/2029		1,921		1,905,563
7.00%, 08/01/2027		403		403,870
Gulfport Energy Corp. 8.00%, 05/17/2026^(b)		610		617,776
8.00%, 05/17/2026		8		7,719
Harbour Energy PLC 5.50%, 10/15/2026^(b)		375		367,536
Hess Midstream Operations LP 4.25%, 02/15/2030^(b)		798		732,692
Hilcorp Energy I LP/Hilcorp Finance Co. 5.75%, 02/01/2029^(b)		313		302,937
6.00%, 02/01/2031^(b)		412		393,752
6.25%, 11/01/2028^(b)		563		555,902
6.25%, 04/15/2032^(b)		89		85,639
8.375%, 11/01/2033^(b)		1,299		1,384,107


	Principal Amount (000)		U.S. $ Value

Howard Midstream Energy Partners LLC 7.375%, 07/15/2032^(b)	U.S.$	568	$	576,597
8.875%, 07/15/2028^(b)		702		742,903
ITT Holdings LLC 6.50%, 08/01/2029^(b)		2,506		2,272,940
KCA Deutag UK Finance PLC 9.875%, 12/01/2025^(b)		331		333,099
Kodiak Gas Services LLC 7.25%, 02/15/2029^(b)		333		341,515
MEG Energy Corp. 5.875%, 02/01/2029^(b)		376		365,803
Moss Creek Resources Holdings, Inc. 7.50%, 01/15/2026^(b)		2,788		2,793,184
Nabors Industries Ltd. 7.25%, 01/15/2026^(b)		403		408,942
7.50%, 01/15/2028^(b)		1,042		992,868
Nabors Industries, Inc. 7.375%, 05/15/2027^(b)		399		404,993
9.125%, 01/31/2030^(b)		128		132,679
New Fortress Energy, Inc. 6.50%, 09/30/2026^(b)		1,847		1,692,187
6.75%, 09/15/2025^(b)		1,011		979,358
8.75%, 03/15/2029^(b)^(c)		1,582		1,441,147
NGL Energy Operating LLC/NGL Energy Finance Corp. 8.125%, 02/15/2029^(b)		1,709		1,742,789
8.375%, 02/15/2032^(b)		1,242		1,260,802
NuStar Logistics LP 5.625%, 04/28/2027		80		79,362
6.00%, 06/01/2026		80		79,850
6.375%, 10/01/2030		225		229,004
PBF Holding Co. LLC/PBF Finance Corp. 6.00%, 02/15/2028		318		310,324
7.875%, 09/15/2030^(b)		226		231,225
Permian Resources Operating LLC 8.00%, 04/15/2027^(b)		542		553,894
Rockies Express Pipeline LLC 3.60%, 05/15/2025^(b)		452		441,511
Solaris Midstream Holdings LLC 7.625%, 04/01/2026^(b)		1,376		1,382,559
Southwestern Energy Co. 5.375%, 02/01/2029		748		725,322
8.375%, 09/15/2028		120		124,098
Summit Midstream Holdings LLC/Summit Midstream Finance Corp. 10.00%, 10/15/2026^(a)^(b)		1,031		1,060,064
Sunoco LP 7.00%, 05/01/2029^(b)		858		879,661
7.25%, 05/01/2032^(b)		947		979,079
Sunoco LP/Sunoco Finance Corp. 4.50%, 05/15/2029		369		345,607
4.50%, 04/30/2030		533		493,322
7.00%, 09/15/2028^(b)		79		80,989
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp. 6.00%, 03/01/2027^(b)		551		542,852
6.00%, 12/31/2030^(b)		160		149,194
6.00%, 09/01/2031^(b)		72		67,402
Talos Production, Inc. 9.00%, 02/01/2029^(b)		490		514,418
9.375%, 02/01/2031^(b)		582		614,519
Transocean Aquila Ltd. 8.00%, 09/30/2028^(b)		1,077		1,095,006
Transocean, Inc. 8.75%, 02/15/2030^(b)		219		229,622
USA Compression Partners LP/USA Compression Finance Corp. 6.875%, 09/01/2027		4		4,007


	Principal Amount (000)			U.S. $ Value

Venture Global Calcasieu Pass LLC 3.875%, 08/15/2029^(b)		U.S.$	93	$	84,741
3.875%, 11/01/2033^(b)			879		750,246
4.125%, 08/15/2031^(b)			1,829		1,641,809
6.25%, 01/15/2030^(b)			1,987		2,017,802
Venture Global LNG, Inc. 8.125%, 06/01/2028^(b)			1,448		1,493,340
8.375%, 06/01/2031^(b)			1,107		1,147,833
9.50%, 02/01/2029^(b)			1,663		1,821,287
9.875%, 02/01/2032^(b)			2,794		3,040,680
Viridien 8.75%, 04/01/2027^(b)			422		401,976

					69,448,900


Other Industrial – 0.3%
AECOM 5.125%, 03/15/2027			407		399,618
American Builders & Contractors Supply Co., Inc. 4.00%, 01/15/2028^(b)			100		93,659
Dealer Tire LLC/DT Issuer LLC 8.00%, 02/01/2028^(b)			1,116		1,079,486
Gates Corp./DE 6.875%, 07/01/2029^(b)			345		351,237
Pachelbel Bidco SpA 7.125%, 05/17/2031^(b)		EUR	734		810,645
8.07% (EURIBOR 3 Month + 4.25%), 05/17/2031^(b)^(j)			208		225,940
Ritchie Bros Holdings, Inc. 7.75%, 03/15/2031^(b)		U.S.$	14		14,636
Velocity Vehicle Group LLC 8.00%, 06/01/2029^(b)			372		382,239

					3,357,460


Services – 2.5%
ADT Security Corp. (The) 4.875%, 07/15/2032^(b)			1,012		930,540
Allied Universal Holdco LLC/Allied Universal Finance Corp. 6.00%, 06/01/2029^(b)			327		286,331
9.75%, 07/15/2027^(b)			1,601		1,591,539
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL 3.625%, 06/01/2028^(b)		EUR	255		248,242
4.625%, 06/01/2028^(b)		U.S.$	4,455		4,059,843
4.875%, 06/01/2028^(b)		GBP	1,010		1,145,503
AMN Healthcare, Inc. 4.625%, 10/01/2027^(b)		U.S.$	4		3,810
ANGI Group LLC 3.875%, 08/15/2028^(b)			2,420		2,078,404
APX Group, Inc. 5.75%, 07/15/2029^(b)			1,604		1,538,825
6.75%, 02/15/2027^(b)			776		774,082
Block, Inc. 6.50%, 05/15/2032^(b)			1,149		1,164,577
Brink’s Co. (The) 4.625%, 10/15/2027^(b)			409		392,116
Cars.com, Inc. 6.375%, 11/01/2028^(b)			830		816,797
Garda World Security Corp. 4.625%, 02/15/2027^(b)			188		179,775
7.75%, 02/15/2028^(b)			1,281		1,305,931
9.50%, 11/01/2027^(b)			479		481,846
GrubHub Holdings, Inc. 5.50%, 07/01/2027^(b)			405		367,328
Korn Ferry 4.625%, 12/15/2027^(b)			402		382,790
Millennium Escrow Corp. 6.625%, 08/01/2026^(b)			2,212		1,146,392
Mobius Merger Sub, Inc. 9.00%, 06/01/2030^(b)			351		348,107
Monitronics International, Inc. 9.125%, 04/01/2020^(e)^{(f) (g) (h) (k)}			958		0


	Principal Amount (000)			U.S. $ Value

Prime Security Services Borrower LLC/Prime Finance, Inc. 3.375%, 08/31/2027^(b)		U.S.$	423	$	391,615
5.75%, 04/15/2026^(b)			540		535,834
6.25%, 01/15/2028^(b)			1,225		1,205,384
Q-Park Holding I BV 5.125%, 02/15/2030^(b)		EUR	556		594,126
Rakuten Group, Inc. 11.25%, 02/15/2027^(b)		U.S.$	441		471,809
Shutterfly Finance LLC 8.50% (4.25% Cash and 4.25% PIK), 10/01/2027^(a)^(b) (d)			60		52,603
9.75%, 10/01/2027^(b)			7		7,013
Sotheby’s 7.375%, 10/15/2027^(b)			413		344,894
Techem Verwaltungsgesellschaft 675 mbH 5.375%, 07/15/2029^(b)		EUR	1,059		1,144,103

					23,990,159


Technology – 1.9%
Ahead DB Holdings LLC 6.625%, 05/01/2028^(b)		U.S.$	725		686,231
ASGN, Inc. 4.625%, 05/15/2028^(b)			370		349,233
AthenaHealth Group, Inc. 6.50%, 02/15/2030^(b)			1,754		1,615,706
CommScope, Inc. 6.00%, 03/01/2026^(b)			672		591,862
Consensus Cloud Solutions, Inc. 6.50%, 10/15/2028^(b)			51		47,613
Fortress Intermediate 3, Inc. 7.50%, 06/01/2031^(b)			1,041		1,067,711
Gen Digital, Inc. 7.125%, 09/30/2030^(b)			586		599,859
GoTo Group, Inc. 5.50%, 05/01/2028^(b)			1,667		945,880
Imola Merger Corp. 4.75%, 05/15/2029^(b)			968		905,544
NCR Voyix Corp. 5.125%, 04/15/2029^(b)			963		906,572
Newfold Digital Holdings Group, Inc. 11.75%, 10/15/2028^(b)			386		399,542
Playtika Holding Corp. 4.25%, 03/15/2029^(b)			1,199		1,056,207
Rackspace Finance LLC 3.50%, 05/15/2028^(b)			3,030		1,314,942
Rocket Software, Inc. 9.00%, 11/28/2028^(b)			1,832		1,865,689
Science Applications International Corp. 4.875%, 04/01/2028^(b)			105		100,190
Seagate HDD Cayman 4.09%, 06/01/2029			1,214		1,123,758
Sensata Technologies, Inc. 3.75%, 02/15/2031^(b)			392		341,919
Vericast Corp. 11.00%, 09/15/2026^(b)			130		139,100
Veritas US, Inc./Veritas Bermuda Ltd. 7.50%, 09/01/2025^(b)			3,230		2,794,111
Virtusa Corp. 7.125%, 12/15/2028^(b)			717		666,852
Xerox Corp. 6.75%, 12/15/2039			42		33,754
Xerox Holdings Corp. 5.50%, 08/15/2028^(b)			451		388,234
8.875%, 11/30/2029^(b)			34		32,430

					17,972,939


Transportation - Airlines – 0.8%
Allegiant Travel Co. 7.25%, 08/15/2027^(b)			127		121,099


	Principal Amount (000)			U.S. $ Value

American Airlines, Inc. 7.25%, 02/15/2028^(b)		U.S.$	81	$	81,000
8.50%, 05/15/2029^(b)			881		915,526
American Airlines, Inc./AAdvantage Loyalty IP Ltd. 5.50%, 04/20/2026^(b)			1,616		1,602,224
5.75%, 04/20/2029^(b)			1,208		1,176,929
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd. 5.75%, 01/20/2026^(b)			1,960		1,865,033
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd. 8.00%, 09/20/2025^(b)			1,590		1,156,503
United Airlines, Inc. 4.375%, 04/15/2026^(b)			605		584,725
VistaJet Malta Finance PLC/Vista Management Holding, Inc. 6.375%, 02/01/2030^(b)			15		11,715
7.875%, 05/01/2027^(b)			466		411,245
9.50%, 06/01/2028^(b)			19		16,768

					7,942,767


Transportation - Services – 1.2%
Albion Financing 1 SARL/Aggreko Holdings, Inc. 5.25%, 10/15/2026^(b)		EUR	525		562,593
6.125%, 10/15/2026^(b)		U.S.$	228		225,004
Avis Budget Car Rental LLC/Avis Budget Finance, Inc. 4.75%, 04/01/2028^(b)			660		607,897
5.375%, 03/01/2029^(b)			267		244,509
5.75%, 07/15/2027^(b)			1,031		996,899
8.00%, 02/15/2031^(b)			1,004		992,813
BCP V Modular Services Finance PLC 6.75%, 11/30/2029^(b)		EUR	1,214		1,094,700
BCP V Modular Services Finance II PLC 4.75%, 11/30/2028^(b)			132		131,601
Boels Topholding BV 6.25%, 02/15/2029^(b)			862		960,141
GN Bondco LLC 9.50%, 10/15/2031^(b)		U.S.$	388		362,357
Herc Holdings, Inc. 6.625%, 06/15/2029^(b)			84		85,190
Hertz Corp. (The) 4.625%, 12/01/2026^(b) (c)			1,333		967,655
5.00%, 12/01/2029^(b) (c)			2,871		1,759,667
12.625%, 07/15/2029^(b)			721		748,521
Loxam SAS 4.50%, 02/15/2027^(b)		EUR	629		668,681
6.375%, 05/31/2029^(b)			172		189,740
Rand Parent LLC 8.50%, 02/15/2030^(b)		U.S.$	372		376,264
United Rentals North America, Inc. 3.75%, 01/15/2032			87		75,659
4.00%, 07/15/2030			3		2,715

					11,052,606

					468,904,918


Financial Institutions – 6.2%
Banking – 0.3%
Ally Financial, Inc. Series C 4.70%, 05/15/2028^(l)			256		205,106
Bread Financial Holdings, Inc. 7.00%, 01/15/2026^(b)			106		105,920
9.75%, 03/15/2029^(b)			1,804		1,895,801
Freedom Mortgage Corp. 12.25%, 10/01/2030^(b)			326		351,122
Synchrony Financial 7.25%, 02/02/2033			385		384,152
UniCredit SpA 5.46%, 06/30/2035^(b)			243		227,946
5.86%, 06/19/2032^(b)			203		198,418

					3,368,465


	Principal Amount (000)			U.S. $ Value

Brokerage – 0.9%
AG Issuer LLC 6.25%, 03/01/2028^(b)		U.S.$	464	$	453,649
AG TTMT Escrow Issuer LLC 8.625%, 09/30/2027^(b)			784		812,149
Aretec Group, Inc. 7.50%, 04/01/2029^(b)			127		122,396
10.00%, 08/15/2030^(b)			1,656		1,802,754
Hightower Holding LLC 6.75%, 04/15/2029^(b)			2,936		2,748,893
Osaic Holdings, Inc. 10.75%, 08/01/2027^(b)			1,425		1,466,046
VFH Parent LLC/Valor Co-Issuer, Inc. 7.50%, 06/15/2031^(b)			996		1,000,670

					8,406,557


Finance – 2.0%
Castlelake Aviation Finance DAC 5.00%, 04/15/2027^(b)			1,036		1,000,435
CNG Holdings, Inc. 14.50%, 06/30/2026^(b)			794		657,035
Compass Group Diversified Holdings LLC 5.25%, 04/15/2029^(b)			1,277		1,213,444
Curo Group Holdings Corp. 7.50%, 08/01/2028^(h)^(i) (m)			3,647		826,928
Curo SPV LLC 18.00%, 08/02/2027^(e)^(g)			1,619		1,686,078
Enova International, Inc. 8.50%, 09/15/2025^(b)			1,996		1,999,504
11.25%, 12/15/2028^(b)			651		696,000
Freedom Mortgage Holdings LLC 9.125%, 05/15/2031^(b)			50		48,703
9.25%, 02/01/2029^(b)			243		243,055
GGAM Finance Ltd. 8.00%, 02/15/2027^(b)			1,084		1,120,773
8.00%, 06/15/2028^(b)			1,069		1,125,176
goeasy Ltd. 7.625%, 07/01/2029^(b)			439		447,648
9.25%, 12/01/2028^(b)			1,043		1,107,011
Jefferies Finance LLC/JFIN Co-Issuer Corp. 5.00%, 08/15/2028^(b)			2,234		2,063,056
LD Holdings Group LLC 6.125%, 04/01/2028^(b)			346		259,377
8.75%, 11/01/2027			60		53,229
Midcap Financial Issuer Trust 6.50%, 05/01/2028^(b)			431		407,086
Navient Corp. 4.875%, 03/15/2028			1,706		1,560,532
5.00%, 03/15/2027			585		558,995
5.625%, 08/01/2033			40		31,900
6.75%, 06/25/2025			954		953,633
6.75%, 06/15/2026			835		837,072
SLM Corp. 3.125%, 11/02/2026			188		175,406

					19,072,076


Insurance – 1.0%
Acrisure LLC/Acrisure Finance, Inc. 4.25%, 02/15/2029^(b)			152		138,151
7.50%, 11/06/2030^(b)			414		414,905
8.25%, 02/01/2029^(b)			1,048		1,055,526
8.50%, 06/15/2029^(b)			985		997,932
AmWINS Group, Inc. 6.375%, 02/15/2029^(b)			479		480,702
Ardonagh Finco Ltd. 6.875%, 02/15/2031^(b)		EUR	286		298,126
7.75%, 02/15/2031^(b)		U.S.$	739		731,656


	Principal Amount (000)			U.S. $ Value

Ardonagh Group Finance Ltd. 8.875%, 02/15/2032^(b)		U.S.$	417	$	407,253
Howden UK Refinance PLC/Howden UK Refinance 2 PLC/Howden US Refinance LLC 7.25%, 02/15/2031^(b)			880		876,547
HUB International Ltd. 7.25%, 06/15/2030^(b)			1,725		1,767,619
7.375%, 01/31/2032^(b)			753		763,893
Molina Healthcare, Inc. 4.375%, 06/15/2028^(b)			456		428,821
Panther Escrow Issuer LLC 7.125%, 06/01/2031^(b)			1,235		1,249,093

					9,610,224


Other Finance – 0.7%
Armor Holdco, Inc. 8.50%, 11/15/2029^(b)			1,967		1,874,808
Coinbase Global, Inc. 3.375%, 10/01/2028^(b)			1,281		1,098,050
3.625%, 10/01/2031^(b)			767		614,458
Encore Capital Group, Inc. 4.875%, 10/15/2025^(b)		EUR	880		935,970
8.50%, 05/15/2030^(b)		U.S.$	1,096		1,114,454
9.25%, 04/01/2029^(b)			606		631,614
PRA Group, Inc. 8.875%, 01/31/2030^(b)			83		83,020

					6,352,374


REITs – 1.3%
Aedas Homes Opco SL 4.00%, 08/15/2026^(b)		EUR	1,580		1,670,095
Agps Bondco PLC 5.50%, 11/13/2026^(a)^(b)			200		69,734
Anywhere Real Estate Group LLC/Realogy Co-Issuer Corp. 5.75%, 01/15/2029^(b)		U.S.$	584		357,316
Apollo Commercial Real Estate Finance, Inc. 4.625%, 06/15/2029^(b)			428		359,021
Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LL 4.50%, 04/01/2027^(b)			1,500		1,395,600
5.75%, 05/15/2026^(b)			182		178,320
Five Point Operating Co. LP/Five Point Capital Corp. 10.50%, 01/15/2028^(a)^(b)			1,306		1,336,627
Iron Mountain, Inc. 4.875%, 09/15/2027^(b)			168		162,997
5.25%, 03/15/2028^(b)			1,500		1,451,936
5.25%, 07/15/2030^(b)			80		76,011
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp. 4.75%, 06/15/2029^(b)			8		7,390
MPT Operating Partnership LP/MPT Finance Corp. 5.25%, 08/01/2026			585		532,531
Office Properties Income Trust 9.00%, 09/30/2029^(b)			444		349,159
Service Properties Trust 4.95%, 10/01/2029			85		65,148
8.375%, 06/15/2029			626		615,628
8.625%, 11/15/2031^(b)			991		1,033,247
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC 10.50%, 02/15/2028^(b)			609		598,748
Series MAY 10.50%, 02/15/2028^(b)			13		12,731
Via Celere Desarrollos Inmobiliarios SA 5.25%, 04/01/2026^(b)		EUR	771		816,105

Vivion Investments SARL 3.00%, 08/08/2024^(b)			1,000		1,063,332

					12,151,676

					58,961,372


	Principal Amount (000)			U.S. $ Value

Utility – 0.5%
Electric – 0.5%
Algonquin Power & Utilities Corp. 4.75%, 01/18/2082		U.S.$	311	$	284,354
NextEra Energy Operating Partners LP 3.875%, 10/15/2026^(b)			482		458,672
NRG Energy, Inc. 3.375%, 02/15/2029^(b)			95		84,510
3.625%, 02/15/2031^(b)			90		77,216
3.875%, 02/15/2032^(b)			188		161,651
5.25%, 06/15/2029^(b)			80		76,858
5.75%, 01/15/2028			586		581,524
6.625%, 01/15/2027			7		6,987
10.25%, 03/15/2028^(b) (l)			842		920,008
Vistra Corp. 7.00%, 12/15/2026^(b)^(l)			835		827,208
8.00%, 10/15/2026^(b) (l)			1,003		1,010,886
Vistra Operations Co. LLC 4.375%, 05/01/2029^(b)			91		84,775
5.00%, 07/31/2027^(b)			80		77,404
5.625%, 02/15/2027^(b)			80		78,659

					4,730,712


Natural Gas – 0.0%
AmeriGas Partners LP/AmeriGas Finance Corp. 5.75%, 05/20/2027			183		172,399
5.875%, 08/20/2026			3		2,907
9.375%, 06/01/2028^(b)			430		441,628

					616,934

					5,347,646


Total Corporates - Non-Investment Grade (cost $568,532,843)					533,213,936


CORPORATES - INVESTMENT GRADE – 19.4%
Industrial – 9.5%
Basic – 1.0%
AngloGold Ashanti Holdings PLC 3.375%, 11/01/2028			647		582,300
Freeport Indonesia PT 4.76%, 04/14/2027^(b)			281		275,060
Glencore Funding LLC 5.63%, 04/04/2034^(b)			1,675		1,649,474
6.50%, 10/06/2033^(b)			1,173		1,225,327
Industrias Penoles SAB de CV 5.65%, 09/12/2049^(b)			386		338,594
Inversiones CMPC SA 6.125%, 02/26/2034^(b)			453		460,486
MEGlobal Canada ULC 5.875%, 05/18/2030^(b)			343		344,578
Nexa Resources SA 6.50%, 01/18/2028^(b)			524		527,602
6.75%, 04/09/2034^(b)			961		971,804
OCP SA 6.75%, 05/02/2034^(b)			412		422,815
Olin Corp. 5.125%, 09/15/2027			457		443,438
5.625%, 08/01/2029			272		266,895
Sociedad Quimica y Minera de Chile SA 6.50%, 11/07/2033^(b)			406		422,494
Suzano Austria GmbH 3.75%, 01/15/2031			262		228,202
5.00%, 01/15/2030			218		206,097
6.00%, 01/15/2029			410		409,672
Series DM3N 3.125%, 01/15/2032			331		270,923

					9,045,761


	Principal Amount (000)			U.S. $ Value

Capital Goods – 0.6%
Boeing Co. (The) 3.25%, 02/01/2028		U.S.$	660	$	604,431
3.625%, 02/01/2031			593		518,969
5.15%, 05/01/2030			530		508,834
6.30%, 05/01/2029^(b)			1,033		1,047,498
6.53%, 05/01/2034^(b)			1,657		1,696,353
6.86%, 05/01/2054^(b)			83		85,098
7.01%, 05/01/2064^(b)			83		85,004
Embraer Netherlands Finance BV 5.40%, 02/01/2027			918		909,394
Howmet Aerospace, Inc. 5.90%, 02/01/2027			311		314,978
St. Marys Cement, Inc. Canada 5.75%, 04/02/2034^(b)			222		217,863

					5,988,422


Communications - Media – 1.0%
DIRECTV Financing LLC 8.875%, 02/01/2030^(b)			1,202		1,177,055
DIRECTV Financing LLC/Directv Financing Co-Obligor, Inc. 5.875%, 08/15/2027^(b)			2,626		2,471,169
Paramount Global 4.20%, 06/01/2029			280		249,854
4.20%, 05/19/2032			825		674,349
4.95%, 01/15/2031			565		496,878
5.50%, 05/15/2033			504		433,622
6.875%, 04/30/2036			564		527,705
7.875%, 07/30/2030			540		553,887
Prosus NV 3.06%, 07/13/2031^(b)			1,998		1,655,842
4.03%, 08/03/2050^(b)			331		226,114
Warnermedia Holdings, Inc. 4.28%, 03/15/2032			1,034		902,251
Weibo Corp. 3.375%, 07/08/2030			513		448,239

					9,816,965


Communications - Telecommunications – 0.1%
Sprint LLC 7.625%, 03/01/2026			186		191,113
Xiaomi Best Time International Ltd. 3.375%, 04/29/2030^(b)			718		637,225

					828,338


Consumer Cyclical - Automotive – 2.2%
Ford Motor Co. 3.25%, 02/12/2032			4,123		3,411,274
Ford Motor Credit Co. LLC 4.95%, 05/28/2027			1,160		1,132,997
6.80%, 05/12/2028			756		779,269
7.35%, 11/04/2027			2,541		2,649,166
General Motors Financial Co., Inc. 2.35%, 01/08/2031			525		430,637
2.70%, 06/10/2031			1,721		1,424,518
3.60%, 06/21/2030			264		237,099
5.75%, 02/08/2031			253		253,651
6.40%, 01/09/2033			1,708		1,771,944
Harley-Davidson Financial Services, Inc. 5.95%, 06/11/2029^(b)			254		253,092
6.50%, 03/10/2028^(b)			3,503		3,578,932
Hyundai Capital America 6.10%, 09/21/2028^(b)			1,745		1,791,358
Nissan Motor Acceptance Co. LLC 1.85%, 09/16/2026^(b)			126		115,302
2.45%, 09/15/2028^(b)			575		498,340


	Principal Amount (000)			U.S. $ Value

2.75%, 03/09/2028^(b)		U.S.$	1,123	$	1,000,935
6.95%, 09/15/2026^(b)			77		78,835
7.05%, 09/15/2028^(b)			5		5,204
Nissan Motor Co., Ltd. 4.345%, 09/17/2027^(b)			1,084		1,036,402
4.81%, 09/17/2030^(b)			233		216,554

					20,665,509


Consumer Cyclical - Entertainment – 0.3%
Carnival Corp. 4.00%, 08/01/2028^(b)			1,739		1,631,056
7.00%, 08/15/2029^(b)			243		251,279
Hasbro, Inc. 6.05%, 05/14/2034			617		615,846

					2,498,181


Consumer Cyclical - Other – 0.9%
Flutter Treasury Designated Activity Co. 5.00%, 04/29/2029^(b)		EUR	155		168,516
6.375%, 04/29/2029^(b)		U.S.$	325		326,872
GENM Capital Labuan Ltd. 3.88%, 04/19/2031^(b)			891		779,625
International Game Technology PLC 3.50%, 06/15/2026^(b)		EUR	100		105,635
Las Vegas Sands Corp. 2.90%, 06/25/2025		U.S.$	4		3,881
3.50%, 08/18/2026			74		70,639
3.90%, 08/08/2029			158		144,417
MDC Holdings, Inc. 6.00%, 01/15/2043			1,881		1,977,410
Owens Corning 7.00%, 12/01/2036^(a)			777		862,461
Resorts World Las Vegas LLC/RWLV Capital, Inc. 4.625%, 04/16/2029^(b)			1,200		1,077,328
4.625%, 04/06/2031^(b)			1,100		951,823
Sands China Ltd. 2.85%, 03/08/2029^(a)			206		180,300
3.25%, 08/08/2031^(a)			285		239,578
4.375%, 06/18/2030^(a)			935		860,813
5.40%, 08/08/2028^(a)			481		471,108

					8,220,406


Consumer Cyclical - Retailers – 0.3%
Macy’s Retail Holdings LLC 5.875%, 03/15/2030^(b)			1,571		1,503,684
6.125%, 03/15/2032^(b)			509		486,180
Tapestry, Inc. 7.70%, 11/27/2030			129		134,665
7.85%, 11/27/2033			309		325,090
VF Corp. 2.80%, 04/23/2027			791		722,284

					3,171,903


Consumer Non-Cyclical – 1.3%
Altria Group, Inc. 6.875%, 11/01/2033			1,024		1,105,542
BAT Capital Corp. 6.00%, 02/20/2034			454		458,920
Bayer US Finance LLC 6.375%, 11/21/2030^(b)			1,601		1,640,522
Cencosud SA 5.95%, 05/28/2031^(b)			481		482,954
Charles River Laboratories International, Inc. 3.75%, 03/15/2029^(b)			770		703,821
4.00%, 03/15/2031^(b)			45		40,255
CVS Health Corp. 5.70%, 06/01/2034			1,194		1,190,620
Imperial Brands Finance PLC 5.875%, 07/01/2034^(b)			1,250		1,227,458
IQVIA, Inc. 5.70%, 05/15/2028			340		343,243


	Principal Amount (000)			U.S. $ Value

Jazz Securities DAC 4.375%, 01/15/2029^(b)		U.S.$	954	$	887,933
JBS USA Holding Lux Sarl/JBS USA Food Co/JBS Lux Co. SARL 6.75%, 03/15/2034^(b)			1,248		1,323,198
Pilgrim’s Pride Corp. 3.50%, 03/01/2032			1,249		1,056,791
6.875%, 05/15/2034			1,581		1,679,366
PRA Health Sciences, Inc. 2.875%, 07/15/2026^(b)			363		344,605
Reynolds American, Inc. 5.85%, 08/15/2045			91		84,151

					12,569,379


Energy – 1.3%
Apache Corp. 4.75%, 04/15/2043			8		6,371
Continental Resources, Inc./OK 2.875%, 04/01/2032^(b)			343		277,194
5.75%, 01/15/2031^(b)			692		680,522
Energy Transfer LP 5.60%, 09/01/2034			1,249		1,238,898
EnLink Midstream Partners LP 4.85%, 07/15/2026			331		324,884
5.05%, 04/01/2045			807		657,948
5.60%, 04/01/2044			104		91,892
Enterprise Products Operating LLC Series E 5.25%, 08/16/2077			353		337,947
EQT Corp. 5.75%, 02/01/2034			512		506,781
HF Sinclair Corp. 5.00%, 02/01/2028^(b)			327		317,261
Hunt Oil Co. of Peru LLC Sucursal Del Peru 8.55%, 09/18/2033^(b)			403		435,870
KazMunayGas National Co. JSC 4.75%, 04/19/2027^(b)			543		525,862
5.375%, 04/24/2030^(b)			1,383		1,349,289
Marathon Oil Corp. 6.60%, 10/01/2037			297		321,707
Occidental Petroleum Corp. 6.20%, 03/15/2040			2		1,997
7.50%, 05/01/2031			4		4,405
Ovintiv, Inc. 6.25%, 07/15/2033			782		806,052
6.50%, 02/01/2038			350		359,314
Raizen Fuels Finance SA 6.45%, 03/05/2034^(b)			464		471,973
Tengizchevroil Finance Co. International Ltd. 3.25%, 08/15/2030^(b)			1,902		1,570,339
Var Energi ASA 7.50%, 01/15/2028^(b)			894		939,548
8.00%, 11/15/2032^(b)			1,300		1,450,674

					12,676,728


Other Industrial – 0.1%
Grand Canyon University 4.125%, 10/01/2024			223		221,551
Ritchie Bros Holdings, Inc. 6.75%, 03/15/2028^(b)			418		425,910

					647,461


Services – 0.0%
GTCR W Dutch Finance Sub BV 8.50%, 01/15/2031^(b)		GBP	163		220,951
IHS Markit Ltd. 4.75%, 08/01/2028		U.S.$	104		101,524

					322,475


	Principal Amount (000)			U.S. $ Value

Technology – 0.1%
Gartner, Inc. 3.625%, 06/15/2029^(b)		U.S.$	25	$	22,888
4.50%, 07/01/2028^(b)			86		82,885
Lenovo Group Ltd. 3.42%, 11/02/2030^(b)			289		255,133
Western Digital Corp. 2.85%, 02/01/2029			59		51,126
3.10%, 02/01/2032			130		105,729
Xiaomi Best Time International Ltd. 2.875%, 07/14/2031^(b)			318		265,431

					783,192


Transportation - Airlines – 0.1%
Air Canada 3.875%, 08/15/2026^(b)			458		435,893
Delta Air Lines, Inc. 7.375%, 01/15/2026			421		430,230

					866,123


Transportation - Railroads – 0.0%
Lima Metro Line 2 Finance Ltd. 4.35%, 04/05/2036^(b)			372		339,351


Transportation - Services – 0.2%
Adani Ports & Special Economic Zone Ltd. 4.375%, 07/03/2029^(b)			1,175		1,052,359
AerCap Global Aviation Trust 6.50%, 06/15/2045^(b)			588		586,897
United Rentals North America, Inc. 3.875%, 11/15/2027			737		695,488

					2,334,744

					90,774,938


Financial Institutions – 8.6%
Banking – 6.4%
Ally Financial, Inc. 6.70%, 02/14/2033			421		418,180
6.85%, 01/03/2030			759		780,513
8.00%, 11/01/2031			548		605,296
Series B 4.70%, 05/15/2026^(l)			2,950		2,606,492
Banco Bilbao Vizcaya Argentaria SA 6.03%, 03/13/2035			1,200		1,199,543
Banco de Credito del Peru SA 5.85%, 01/11/2029^(b)			664		672,409
Banco Santander SA 3.225%, 11/22/2032			200		166,938
6.92%, 08/08/2033			2,600		2,723,391
9.625%, 05/21/2033^(l)			1,400		1,557,929
Bank Leumi Le-Israel BM 7.13%, 07/18/2033^(b)			450		438,031
Bank of Ireland Group PLC 5.60%, 03/20/2030^(b)			903		898,545
Barclays PLC 5.69%, 03/12/2030			301		302,143
6.125%, 12/15/2025^(l)			3,088		3,032,036
7.12%, 06/27/2034			361		383,592
7.125%, 06/15/2025^(l)		GBP	404		506,287
BNP Paribas SA 4.625%, 02/25/2031^(b)^(l)		U.S.$	2,924		2,344,319
BPCE SA 6.51%, 01/18/2035^(b)			1,245		1,249,930
Series E 0.75%, 03/03/2031^(b)		EUR	600		525,739
4.125%, 03/08/2033^(b)			100		107,163
CaixaBank SA 5.875%, 10/09/2027^(b)^(l)			1,000		1,048,506
6.04%, 06/15/2035^(b)		U.S.$	1,257		1,262,749
6.84%, 09/13/2034^(b)			1,227		1,298,527


	Principal Amount (000)			U.S. $ Value

Capital One Financial Corp. 2.36%, 07/29/2032		U.S.$	360	$	281,621
6.05%, 02/01/2035			654		657,822
7.62%, 10/30/2031			1,234		1,357,311
Citigroup, Inc. 2.56%, 05/01/2032			1,009		840,791
5.83%, 02/13/2035			1,663		1,648,390
Series AA 7.625%, 11/15/2028^(l)			339		352,551
Series W 4.00%, 12/10/2025^(l)			413		396,103
Citizens Financial Group, Inc. 6.645%, 04/25/2035			316		326,884
Comerica, Inc. 5.98%, 01/30/2030			306		301,568
Deutsche Bank AG/New York NY 7.08%, 02/10/2034			1,509		1,536,008
7.15%, 07/13/2027			573		586,989
Discover Financial Services 7.96%, 11/02/2034			270		303,630
Fifth Third Bancorp 8.25%, 03/01/2038			282		333,365
Goldman Sachs Group, Inc. (The) Series P 8.46% (SOFR + 3.14%), 07/29/2024^(j) (l)			1,130		1,132,435
HSBC Holdings PLC 4.76%, 03/29/2033			901		832,375
5.55%, 03/04/2030			518		519,209
7.40%, 11/13/2034			368		400,651
8.11%, 11/03/2033			656		741,542
Series** 6.50%, 09/15/2037			309		317,692
Series E 4.75%, 07/04/2029^(b)^(l)		EUR	1,595		1,598,858
Intesa Sanpaolo SpA 5.71%, 01/15/2026^(b)		U.S.$	1,650		1,634,470
6.625%, 06/20/2033^(b)			997		1,031,760
7.20%, 11/28/2033^(b)			832		893,147
KeyCorp 6.40%, 03/06/2035			82		83,166
Lloyds Banking Group PLC 4.98%, 08/11/2033			417		399,066
7.50%, 09/27/2025^(l)			1,737		1,738,322
7.95%, 11/15/2033			614		689,582
M&T Bank Corp. 5.05%, 01/27/2034			308		284,967
NatWest Group PLC 3.03%, 11/28/2035			302		253,123
6.475%, 06/01/2034			248		252,496
8.125%, 11/10/2033^(l)			415		420,187
Nordea Bank Abp 6.625%, 03/26/2026^(b)^(l)			3,065		3,047,362
PNC Financial Services Group, Inc. (The) Series R 8.65% (CME Term SOFR 3 Month + 3.30%), 09/01/2024^(j)^(l)			503		505,062
Santander Holdings USA, Inc. 6.17%, 01/09/2030			1,004		1,012,596
6.50%, 03/09/2029			254		258,563
6.565%, 06/12/2029			585		598,711
Societe Generale SA 5.52%, 01/19/2028^(b)			3,340		3,301,758
7.37%, 01/10/2053^(b)			203		201,291
Standard Chartered PLC 6.19%, 07/06/2027^(b)			433		436,971
Swedbank AB Series NC5 5.625%, 09/17/2024^(b)^(l)			1,000		995,022
Synchrony Financial 4.875%, 06/13/2025			6		5,938


	Principal Amount (000)			U.S. $ Value

UBS Group AG 5.62%, 09/13/2030^(b)		U.S.$	1,008	$	1,015,989
6.37%, 07/15/2026^(b)			712		715,605
7.00%, 02/19/2025^(b)^(l)			620		618,450
9.25%, 11/13/2028^(b)^(l)			448		481,169
9.25%, 11/13/2033^(b)^(l)			380		425,492
UniCredit SpA 1.98%, 06/03/2027^(b)			915		852,926
Western Alliance Bancorp 3.00%, 06/15/2031			426		373,811

					61,121,055


Brokerage – 0.2%
BGC Group, Inc. 6.60%, 06/10/2029^(b)			83		82,576
Charles Schwab Corp. (The) Series I 4.00%, 06/01/2026^(l)			1,251		1,171,183
CI Financial Corp. 3.20%, 12/17/2030			411		324,109

					1,577,868


Finance – 0.6%
Air Lease Corp. Series B 4.65%, 06/15/2026^(l)			1,229		1,168,557
Aircastle Ltd. 5.95%, 02/15/2029^(b)			534		533,514
Blackstone Private Credit Fund 7.30%, 11/27/2028^(b)			78		80,775
FS KKR Capital Corp. 3.125%, 10/12/2028			288		250,056
6.875%, 08/15/2029			83		82,267
HAT Holdings I LLC/HAT Holdings II LLC 8.00%, 06/15/2027^(b)			322		334,735
HPS Corporate Lending Fund 6.25%, 09/30/2029^(b)			84		83,005
Huarong Finance 2017 Co., Ltd. 4.75%, 04/27/2027^(b)			400		379,306
Huarong Finance II Co., Ltd. Series E 4.625%, 06/03/2026^(b)			200		192,500
4.875%, 11/22/2026^(b)			230		221,087
5.50%, 01/16/2025^(b)			1,082		1,074,561
ILFC E-Capital Trust II 7.41% (CME Term SOFR 3 Month + 2.06%), 12/21/2065^(b)^(j)			2,000		1,662,282
Main Street Capital Corp. 6.50%, 06/04/2027			83		83,057
Sixth Street Lending Partners 6.50%, 03/11/2029^(b)			84		83,139

					6,228,841


Insurance – 1.2%
Aegon Ltd. 5.50%, 04/11/2048			346		333,133
Allstate Corp. (The) 6.50%, 05/15/2057			1,657		1,668,014
American International Group, Inc. Series A-9 5.75%, 04/01/2048			336		328,763
Argentum Netherlands BV for Swiss Re Ltd. 5.625%, 08/15/2052^(b)			308		302,910
Athene Global Funding 1.985%, 08/19/2028^(b)			682		594,045
2.55%, 11/19/2030^(b)			138		115,126
2.72%, 01/07/2029^(b)			256		227,243
5.58%, 01/09/2029^(b)			116		116,452
Global Atlantic Fin Co. 4.70%, 10/15/2051^(b)			425		394,763


	Principal Amount (000)		U.S. $ Value

Liberty Mutual Group, Inc. 4.125%, 12/15/2051^(b)	U.S.$	452	$	422,915
7.80%, 03/15/2037^(b)		2,187		2,318,817
MetLife, Inc. 10.75%, 08/01/2039		2,350		3,131,729
Prudential Financial, Inc. 4.50%, 09/15/2047		355		335,328
Swiss RE Subordinated Finance PLC 5.70%, 04/05/2035^(b)		1,200		1,183,264

				11,472,502


REITs – 0.2%
Newmark Group, Inc. 7.50%, 01/12/2029^(b)		207		212,803
Piedmont Operating Partnership LP 6.875%, 07/15/2029		84		82,979
Trust Fibra Uno 4.87%, 01/15/2030^(b)		1,480		1,301,290
5.25%, 01/30/2026^(b)		209		203,081
WEA Finance LLC 2.875%, 01/15/2027^(b)		81		75,239

				1,875,392

				82,275,658


Utility – 1.3%
Electric – 1.2%
Adani Electricity Mumbai Ltd. 3.87%, 07/22/2031^(b)		430		350,365
3.95%, 02/12/2030^(b)		806		689,565
AES Andes SA 6.30%, 03/15/2029^(b)		482		482,916
Alexander Funding Trust II 7.47%, 07/31/2028^(b)		685		724,101
American Electric Power Co., Inc. 6.95%, 12/15/2054		594		591,856
Buffalo Energy Mexico Holdings/Buffalo Energy Infrastructure/Buffalo Energy 7.875%, 02/15/2039^(b)		447		463,623
Cometa Energia SA de CV 6.375%, 04/24/2035^(b)		430		416,663
Edison International 8.125%, 06/15/2053		372		387,396
Electricite de France SA 9.125%, 03/15/2033^(b)^(l)		427		464,943
Engie Energia Chile SA 6.375%, 04/17/2034^(b)		920		932,650
FirstEnergy Corp. Series C 5.10%, 07/15/2047^(a)		7		5,983
Israel Electric Corp., Ltd. Series G 4.25%, 08/14/2028^(b)		1,564		1,439,858
Kallpa Generacion SA 4.125%, 08/16/2027^(b)		488		464,210
Minejesa Capital BV 4.625%, 08/10/2030^(b)		1,384		1,326,498
NextEra Energy Capital Holdings, Inc. 6.70%, 09/01/2054		462		463,132
NRG Energy, Inc. 7.00%, 03/15/2033^(b)		323		340,627
Pacific Gas & Electric Co. 5.55%, 05/15/2029		485		486,062
Palomino Funding Trust I 7.23%, 05/17/2028^(b)		1,703		1,787,629

				11,818,077


		Principal Amount (000)		U.S. $ Value

Other Utility – 0.1%
Buffalo Energy Mexico Holdings/Buffalo Energy Infrastructure/Buffalo Energy 7.875%, 02/15/2039^(b)	U.S.$		470	$	487,478

					12,305,555


Total Corporates - Investment Grade (cost $181,988,767)					185,356,151


EMERGING MARKETS - CORPORATE BONDS – 5.7%
Industrial – 5.1%
Basic – 1.5%
Braskem Idesa SAPI 6.99%, 02/20/2032^(b)			904		687,944
7.45%, 11/15/2029^(b)			1,393		1,128,330
Braskem Netherlands Finance BV 4.50%, 01/10/2028^(b)			1,265		1,150,359
4.50%, 01/31/2030^(b)			966		817,718
Cia de Minas Buenaventura SAA 5.50%, 07/23/2026^(b)			1,072		1,035,485
Consolidated Energy Finance SA 5.625%, 10/15/2028^(b)			418		355,555
12.00%, 02/15/2031^(b)			155		160,324
CSN Inova Ventures 6.75%, 01/28/2028^(b)			1,694		1,609,300
First Quantum Minerals Ltd. 6.875%, 10/15/2027^(b)			1,215		1,185,005
8.625%, 06/01/2031^(b)			832		827,008
9.375%, 03/01/2029^(b)			438		458,098
Indika Energy Tbk PT 8.75%, 05/07/2029^(b)			476		476,297
JSW Steel Ltd. 3.95%, 04/05/2027^(b)			409		382,671
5.05%, 04/05/2032^(b)			658		581,508
Sasol Financing USA LLC 8.75%, 05/03/2029^(b)			927		939,345
Stillwater Mining Co. 4.00%, 11/16/2026^(b)			983		898,216
4.50%, 11/16/2029^(b)			309		251,835
UPL Corp., Ltd. 4.50%, 03/08/2028^(b)			616		540,927
4.625%, 06/16/2030^(b)			673		556,066
Vedanta Resources Finance II PLC 13.875%, 01/21/2027^(b)			195		191,768
Volcan Cia Minera SAA 4.375%, 02/11/2026^(b)			718		556,674

					14,790,433


Capital Goods – 0.2%
Cemex SAB de CV 5.125%, 06/08/2026^(b)^(l)			1,028		988,006
9.125%, 03/14/2028^(b)^(l)			386		411,934
IHS Holding Ltd. 6.25%, 11/29/2028^(b)			383		341,588

					1,741,528


Communications - Media – 0.2%
Globo Comunicacao e Participacoes SA 4.875%, 01/22/2030^(b)			1,676		1,486,403
Telecomunicaciones Digitales SA 4.50%, 01/30/2030^(b)			505		450,106

					1,936,509


Communications - Telecommunications – 0.1%
Digicel Group Holdings Ltd. Zero Coupon, 12/31/2030^(e)⁽ⁱ⁾			98		1,394
HTA Group Ltd./Mauritius 7.50%, 06/04/2029^(b)			457		455,001
Millicom International Cellular SA 7.375%, 04/02/2032^(b)			343		342,414
Turk Telekomunikasyon AS 7.375%, 05/20/2029^(b)			481		482,804

					1,281,613


		Principal Amount (000)		U.S. $ Value

Consumer Cyclical - Automotive – 0.1%
Ford Otomotiv Sanayi AS 7.125%, 04/25/2029^(b)	U.S.$		453	$	456,964


Consumer Cyclical - Other – 0.9%
Allwyn Entertainment Financing UK PLC 7.875%, 04/30/2029^(b)			200		206,225
Allwyn International AS 3.875%, 02/15/2027^(b)	EUR		170		178,420
Melco Resorts Finance Ltd. 5.375%, 12/04/2029^(b)	U.S.$		1,356		1,217,681
5.625%, 07/17/2027^(b)			965		917,052
5.75%, 07/21/2028^(b)			1,255		1,173,425
MGM China Holdings Ltd. 4.75%, 02/01/2027^(b)			1,122		1,069,266
5.25%, 06/18/2025^(b)			222		219,503
5.875%, 05/15/2026^(b)			414		409,213
Studio City Co., Ltd. 7.00%, 02/15/2027^(b)			289		288,548
Studio City Finance Ltd. 6.00%, 07/15/2025^(b)			448		443,520
Wynn Macau Ltd. 4.875%, 10/01/2024^(b)			286		284,702
5.125%, 12/15/2029^(b)			241		217,728
5.50%, 01/15/2026^(b)			734		718,647
5.50%, 10/01/2027^(b)			947		899,650
5.625%, 08/26/2028^(b)			717		671,112

					8,914,692


Consumer Cyclical - Retailers – 0.2%
Falabella SA 3.375%, 01/15/2032^(b)			583		471,683
3.75%, 10/30/2027^(b)^(c)			1,340		1,241,510
K201640219 South Africa Ltd. Zero Coupon, 06/25/2023^(e)^{(f) (g) (h)}	ZAR		45		0
K2016470219 South Africa Ltd. 3.00%, 12/31/2022^(e)^{(f) (g) (h) (i)}	U.S.$		1,100		0
K2016470260 South Africa Ltd. 25.00%, 12/31/2022^(e)^{(f) (g) (h) (i)}			771		0

					1,713,193


Consumer Non - Cyclical – 0.7%
BBFI Liquidating Trust Zero Coupon, 12/30/2099^(e)^(g) (i)			780		225,817
BRF SA 4.875%, 01/24/2030^(b)			655		599,325
Central American Bottling Corp./CBC Bottling Holdco SL/Beliv Holdco SL 5.25%, 04/27/2029^(b)			377		350,610
MARB BondCo PLC 3.95%, 01/29/2031^(b)			1,762		1,460,257
Rede D’or Finance SARL 4.95%, 01/17/2028^(b)			445		422,750
Teva Pharmaceutical Finance Netherlands II BV 3.75%, 05/09/2027	EUR		446		465,110
4.375%, 05/09/2030			1,000		1,033,927
Teva Pharmaceutical Finance Netherlands III BV 4.75%, 05/09/2027	U.S.$		517		498,582
5.125%, 05/09/2029^(c)			517		497,936
7.875%, 09/15/2029			506		543,546
8.125%, 09/15/2031			506		560,561
Tonon Luxembourg SA 6.50%, 10/31/2024^(h)^(i) (m)			621		62
Ulker Biskuvi Sanayi AS 6.95%, 10/30/2025^(b)			327		330,577
Virgolino de Oliveira Finance SA 10.50%, 01/28/2018^(e)^{(f) (g) (h) (i)}			4,090		409
10.875%, 01/13/2020^(e)^{(f) (g) (h) (i)}			480		48
11.75%, 02/09/2022^(e)^{(f) (g) (h) (i)}			1,620		162

					6,989,679


		Principal Amount (000)		U.S. $ Value

Energy – 1.1%
Acu Petroleo Luxembourg SARL 7.50%, 01/13/2032^(b)	U.S.$		532	$	514,065
Azure Power Solar Energy Pvt. Ltd. 5.65%, 12/24/2024^(b)			479		471,815
Canacol Energy Ltd. 5.75%, 11/24/2028^(b)			544		289,170
Cosan Luxembourg SA 5.50%, 09/20/2029^(b)			461		433,202
Ecopetrol SA 4.625%, 11/02/2031			841		689,368
6.875%, 04/29/2030			782		751,885
8.625%, 01/19/2029			2,054		2,162,040
Geopark Ltd. 5.50%, 01/17/2027^(b)			317		287,578
Gran Tierra Energy, Inc. 9.50%, 10/15/2029^(b)			746		712,057
Greenko Wind Projects Mauritius Ltd. 5.50%, 04/06/2025^(b)			1,462		1,441,898
Leviathan Bond Ltd. 6.125%, 06/30/2025^(b)			67		65,136
6.50%, 06/30/2027^(b)			1,197		1,122,196
MV24 Capital BV 6.75%, 06/01/2034^(b)			438		416,480
Oleoducto Central SA 4.00%, 07/14/2027^(b)			424		393,048
SierraCol Energy Andina LLC 6.00%, 06/15/2028^(b)			319		284,807

					10,034,745


Other Industrial – 0.0%
Odebrecht Holdco Finance Ltd. Zero Coupon, 09/10/2058⁽ⁱ⁾			2,661		3,327


Services – 0.0%
Bidvest Group UK PLC (The) 3.625%, 09/23/2026^(b)			454		423,497


Transportation - Services – 0.1%
Aeropuertos Dominicanos Siglo XXI SA 6.75%, 03/30/2029^(b)			252		258,615
JSW Infrastructure Ltd. 4.95%, 01/21/2029^(b)			204		192,780

					451,395

					48,737,575

Utility – 0.5%
Electric – 0.4%
Adani Green Energy Ltd. 4.375%, 09/08/2024^(b)			495		491,312
AES Andes SA 6.35%, 10/07/2079^(b)			286		281,341
8.15%, 06/10/2055^(b)			274		274,349
Continuum Energy Aura Pte Ltd. 9.50%, 02/24/2027^(b)			401		412,278
Continuum Green Energy India Pvt./Co-Issuers 7.50%, 06/26/2033^(b)			481		476,972
Diamond II Ltd. 7.95%, 07/28/2026^(b)			597		605,040
India Clean Energy Holdings 4.50%, 04/18/2027^(b)			511		469,162
Investment Energy Resources Ltd. 6.25%, 04/26/2029^(b)			403		379,450
Star Energy Geothermal Wayang Windu Ltd. 6.75%, 04/24/2033^(b)			179		179,979
Terraform Global Operating LP 6.125%, 03/01/2026^(b)			118		116,422

					3,686,305


		Principal Amount (000)		U.S. $ Value

Other Utility – 0.1%
Aegea Finance SARL 6.75%, 05/20/2029^(b)	U.S.$		367	$	356,494
9.00%, 01/20/2031^(b)			276		287,609

					644,103

					4,330,408


Financial Institutions – 0.1%
Banking – 0.1%
Akbank TAS 7.50%, 01/20/2030^(b)			263		261,653
Turkiye Vakiflar Bankasi TAO 9.00%, 10/12/2028^(b)			465		484,763
Yapi ve Kredi Bankasi AS 9.25%, 10/16/2028^(b)			400		424,875

					1,171,291


Other Finance – 0.0%
OEC Finance Ltd. 4.375%, 10/25/2029^(a)^(b) (d)			219		12,912
5.25%, 12/27/2033^(a)^(b) (d)			694		42,315
7.125%, 12/26/2046^(a)^{(b) (d) (g)}			1,944		113,721

					168,948

					1,340,239


Total Emerging Markets - Corporate Bonds (cost $64,494,993)					54,408,222


COLLATERALIZED LOAN OBLIGATIONS – 3.6%
CLO - Floating Rate – 3.6%
AMMC CLO 25 Ltd. Series 2022-25A, Class ER 12.08% (CME Term SOFR 3 Month + 6.75%), 04/15/2035^(b)^(e) (j)			5,000		5,000,000
Ares XXXIV CLO Ltd. Series 2015-2A, Class CR 7.58% (CME Term SOFR 3 Month + 2.26%), 04/17/2033^(b)^(j)			2,358		2,351,329
Balboa Bay Loan Funding Ltd. Series 2020-1A, Class ER 11.99% (CME Term SOFR 3 Month + 6.66%), 01/20/2032^(b)^(j)			3,100		3,095,830
Series 2021-2A, Class E 12.19% (CME Term SOFR 3 Month + 6.86%), 01/20/2035^(b)^(j)			1,000		967,448
Series 2022-1A, Class E 13.255% (CME Term SOFR 3 Month + 7.93%), 04/20/2034^(b)^(j)			3,700		3,667,440
Ballyrock CLO 15 Ltd. Series 2021-1A, Class D 11.81% (CME Term SOFR 3 Month + 6.48%), 04/15/2034^(b)^(j)			250		248,523
Crown Point CLO 11 Ltd. Series 2021-11A, Class E 12.39% (CME Term SOFR 3 Month + 7.07%), 01/17/2034^(b)^(j)			2,000		2,003,652
Elevation CLO Ltd.
Series 2020-11A, Class C 7.79% (CME Term SOFR 3 Month + 2.46%), 04/15/2033^(b)^(j)			648		631,010
Series 2020-11A, Class D1 9.44% (CME Term SOFR 3 Month + 4.11%), 04/15/2033^(b)^(j)			1,006		995,044


		Principal Amount (000)		U.S. $ Value

Elmwood CLO IX Ltd. Series 2021-2A, Class E 11.54% (CME Term SOFR 3 Month + 6.21%), 07/20/2034^(b)^(j)	U.S.$		250	$	251,832
Elmwood CLO XII Ltd. Series 2021-5A, Class E 11.94% (CME Term SOFR 3 Month + 6.61%), 01/20/2035^(b)^(j)			650		655,428
Flatiron CLO 21 Ltd. Series 2021-1A, Class E 11.59% (CME Term SOFR 3 Month + 6.26%), 07/19/2034^(b)^(j)			400		402,198
Galaxy 30 CLO Ltd. Series 2022-30A, Class E 12.28% (CME Term SOFR 3 Month + 6.95%), 04/15/2035^(b)^(j)			2,000		2,002,068
OCP CLO Ltd. Series 2021-21A, Class E 11.87% (CME Term SOFR 3 Month + 6.54%), 07/20/2034^(b)^(j)			250		249,601
Palmer Square CLO Ltd. Series 2021-3A, Class E 11.74% (CME Term SOFR 3 Month + 6.41%), 01/15/2035^(b)^(j)			4,100		4,138,950
Rad CLO 10 Ltd. Series 2021-10A, Class E 11.44% (CME Term SOFR 3 Month + 6.11%), 04/23/2034^(b)^(j)			750		750,715
Rad CLO 11 Ltd. Series 2021-11A, Class E 11.84% (CME Term SOFR 3 Month + 6.51%), 04/15/2034^(b)^(j)			355		356,200
Regatta XIX Funding Ltd. Series 2022-1A, Class E 12.205% (CME Term SOFR 3 Month + 6.88%), 04/20/2035^(b)^(j)			349		350,916
Regatta XXIV Funding Ltd. Series 2021-5A, Class E 12.39% (CME Term SOFR 3 Month + 7.06%), 01/20/2035^(b)^(j)			3,600		3,622,507
Sixth Street CLO XVIII Ltd. Series 2021-18A, Class E 12.09% (CME Term SOFR 3 Month + 6.76%), 04/20/2034^(b)^(j)			1,238		1,242,536
Sixth Street CLO XX Ltd. Series 2021-20A, Class E 11.74% (CME Term SOFR 3 Month + 6.41%), 10/20/2034^(b)^(j)			679		681,587
Voya CLO Ltd. Series 2019-1A, Class DR 8.44% (CME Term SOFR 3 Month + 3.11%), 04/15/2031^(b)^(j)			1,050		1,051,067


Total Collateralized Loan Obligations (cost $34,585,627)					34,715,881


BANK LOANS – 3.2%
Industrial – 2.6%
Capital Goods – 0.2%
ACProducts Holdings, Inc. 9.85% (CME Term SOFR 3 Month + 4.25%), 05/17/2028⁽ⁿ⁾			1,918		1,619,374
Chariot Buyer LLC 8.69% (CME Term SOFR 1 Month + 3.25%), 11/03/2028⁽ⁿ⁾			156		155,805
TransDigm, Inc. 8.085% (CME Term SOFR 3 Month + 2.75%), 08/24/2028⁽ⁿ⁾			290		290,886

					2,066,065


	Principal Amount (000)		U.S. $ Value

Communications - Media – 0.4%
Advantage Sales & Marketing, Inc. 9.82% (CME Term SOFR 3 Month + 4.25%), 10/28/2027⁽ⁿ⁾	U.S.$	1,687	$	1,639,551
DIRECTV Financing, LLC 10.71% (CME Term SOFR 1 Month + 5.25%), 08/02/2029⁽ⁿ⁾		533		530,101
Gray Television, Inc. 8.44% (CME Term SOFR 1 Month + 3.00%), 12/01/2028⁽ⁿ⁾		2,275		2,045,361

				4,215,013


Communications - Telecommunications – 0.4%
Crown Subsea Communications Holding, Inc. 10.08% (CME Term SOFR 3 Month + 4.75%), 01/30/2031⁽ⁿ⁾		1,430		1,431,187
Zacapa SARL 9.335% (CME Term SOFR 3 Month + 4.00%), 03/22/2029⁽ⁿ⁾		2,094		2,090,522

				3,521,709


Consumer Cyclical - Restaurants – 0.0%
IRB Holding Corp. 8.18% (CME Term SOFR 1 Month + 2.75%), 12/15/2027⁽ⁿ⁾		158		158,217


Consumer Cyclical - Retailers – 0.1%
Great Outdoors Group LLC 9.21% (CME Term SOFR 1 Month + 3.75%), 03/06/2028⁽ⁿ⁾		470		468,854


Consumer Non-Cyclical – 0.5%
Gainwell Acquisition Corp. 9.435% (CME Term SOFR 3 Month + 4.00%), 10/01/2027⁽ⁿ⁾		1,197		1,157,208
PetSmart LLC 9.19% (CME Term SOFR 1 Month + 3.75%), 02/11/2028⁽ⁿ⁾		2,169		2,159,632
US Radiology Specialists, Inc. 10.735% (CME Term SOFR 3 Month + 5.25%), 12/15/2027⁽ⁿ⁾		1,916		1,921,290

				5,238,130


Energy – 0.4%
GIP II Blue Holding LP 9.09% (CME Term SOFR 1 Month + 3.75%), 09/29/2028⁽ⁿ⁾		2,006		2,025,198
Parkway Generation LLC 10.34% (CME Term SOFR 3 Month + 9.50%), 02/18/2029⁽ⁿ⁾		1,393		1,390,025

				3,415,223


Other Industrial – 0.2%
American Tire Distributors, Inc. 11.84% (CME Term SOFR 3 Month + 6.25%), 10/20/2028⁽ⁿ⁾		2,066		1,489,705
Dealer Tire Financial LLC 9.09% (CME Term SOFR 1 Month + 3.75%), 12/14/2027⁽ⁿ⁾		287		286,549
Rockwood Service Corp. 9.46% (CME Term SOFR 1 Month + 4.00%), 01/23/2027⁽ⁿ⁾		83		82,926

				1,859,180


Technology – 0.4%
Amentum Government Services Holdings LLC 9.46% (CME Term SOFR 1 Month + 4.00%), 01/29/2027⁽ⁿ⁾		307		307,584
Ascend Learning LLC 11.19% (CME Term SOFR 1 Month + 5.75%), 12/10/2029⁽ⁿ⁾		840		819,420


	Principal Amount (000)		U.S. $ Value

Boxer Parent Co., Inc. 9.34% (CME Term SOFR 1 Month + 4.00%), 12/29/2028⁽ⁿ⁾	U.S.$	1,464	$	1,464,953
FINThrive Software Intermediate Holdings, Inc. 12.21% (CME Term SOFR 1 Month + 6.75%), 12/17/2029⁽ⁿ⁾		660		449,077
Loyalty Ventures, Inc. 14.00% (PRIME 3 Month + 5.50%), 11/03/2027^(e)⁽ⁿ⁾		1,518		11,388
Peraton Corp. 9.19% (CME Term SOFR 1 Month + 3.75%), 02/01/2028⁽ⁿ⁾		606		605,726
Veritas US, Inc. 10.46% (CME Term SOFR 1 Month + 5.00%), 09/01/2025⁽ⁿ⁾		567		491,747

				4,149,895


Transportation - Airlines – 0.0%
Delta Air Lines, Inc. 9.075% (CME Term SOFR 3 Month + 3.75%), 10/20/2027⁽ⁿ⁾		246		251,404

				25,343,690


Financial Institutions – 0.4%
Finance – 0.0%
Orbit Private Holdings I Ltd. 9.93% (CME Term SOFR 6 Month + 4.50%), 12/11/2028^(e)⁽ⁿ⁾		234		234,878


Insurance – 0.4%
Asurion LLC 9.69% (CME Term SOFR 1 Month + 4.25%), 08/19/2028⁽ⁿ⁾		1,639		1,625,136
Truist Insurance Holdings 10.085% (CME Term SOFR 3 Month + 4.75%), 05/06/2032⁽ⁿ⁾		1,460		1,486,163

				3,111,299

				3,346,177


Utility – 0.2%
Electric – 0.2%
Granite Generation LLC 9.21% (CME Term SOFR 1 Month + 3.75%), 11/09/2026⁽ⁿ⁾		1,729		1,725,771


Total Bank Loans (cost $32,838,775)				30,415,638


COLLATERALIZED MORTGAGE OBLIGATIONS – 3.1%
Risk Share Floating Rate – 2.3%
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Debt Notes 2014-HQ2 Series 2014-HQ2, Class M3 9.20% (CME Term SOFR + 3.86%), 09/25/2024^(j)		1,103		1,113,854
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Debt Notes 2015-DNA1 Series 2015-DNA1, Class B 14.65% (CME Term SOFR + 9.31%), 10/25/2027^(j)		592		627,645
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Debt Notes 2015-DNA2 Series 2015-DNA2, Class B 13.00% (CME Term SOFR + 7.66%), 12/25/2027^(j)		1,183		1,245,168


		Principal Amount (000)		U.S. $ Value

Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Debt Notes 2015-DNA3 Series 2015-DNA3, Class B 14.80% (CME Term SOFR + 9.46%), 04/25/2028^(j)	U.S.$		1,011	$	1,100,852
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Debt Notes 2015-HQA1 Series 2015-HQA1, Class B 14.25% (CME Term SOFR + 8.91%), 03/25/2028^(j)			1,000		1,043,988
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Debt Notes 2016-DNA2 Series 2016-DNA2, Class B 15.95% (CME Term SOFR + 10.61%), 10/25/2028^(j)			849		963,004
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Debt Notes 2016-DNA3 Series 2016-DNA3, Class B 16.70% (CME Term SOFR + 11.36%), 12/25/2028^(j)			2,729		3,142,854
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Debt Notes 2016-DNA4 Series 2016-DNA4, Class B 14.05% (CME Term SOFR + 8.71%), 03/25/2029^(j)			389		436,148
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Debt Notes 2016-HQA2 Series 2016-HQA2, Class B 16.95% (CME Term SOFR + 11.61%), 11/25/2028^(j)			420		481,238
Federal National Mortgage Association Connecticut Avenue Securities Series 2015-C04, Class 1M2 11.15% (CME Term SOFR + 5.81%), 04/25/2028^(j)			832		875,237
Series 2015-C04, Class 2M2 11.00% (CME Term SOFR + 5.66%), 04/25/2028^(j)			209		214,319
Series 2016-C01, Class 1B 17.20% (CME Term SOFR + 11.86%), 08/25/2028^(j)			672		770,140
Series 2016-C01, Class 2M2 12.40% (CME Term SOFR + 7.06%), 08/25/2028^(j)			97		100,901
Series 2016-C02, Class 1B 17.70% (CME Term SOFR + 12.36%), 09/25/2028^(j)			446		518,630
Series 2016-C02, Class 1M2 11.45% (CME Term SOFR + 6.11%), 09/25/2028^(j)			244		253,057
Series 2016-C03, Class 1B 17.20% (CME Term SOFR + 11.86%), 10/25/2028^(j)			370		429,232
Series 2016-C03, Class 2B 18.20% (CME Term SOFR + 12.86%), 10/25/2028^(j)			630		737,620
Series 2016-C04, Class 1B 15.70% (CME Term SOFR + 10.36%), 01/25/2029^(j)			1,474		1,690,622
Series 2016-C05, Class 2B 16.20% (CME Term SOFR + 10.86%), 01/25/2029^(j)			1,812		2,094,753


		Principal Amount (000)		U.S. $ Value

Series 2016-C06, Class 1B 14.70% (CME Term SOFR + 9.36%), 04/25/2029^(j)	U.S.$		1,273	$	1,449,723
Series 2016-C07, Class 2B 14.95% (CME Term SOFR + 9.61%), 05/25/2029^(j)			1,554		1,787,221
JP Morgan Madison Avenue Securities Trust Series 2015-CH1, Class M2 10.95% (CME Term SOFR + 5.61%), 10/25/2025^(b)^(j)			353		361,825
Wells Fargo Credit Risk Transfer Securities Trust Series 2015-WF1, Class 2M2 10.95% (CME Term SOFR + 5.61%), 11/25/2025^(b)^(j)			115		119,719

					21,557,750


Non-Agency Fixed Rate – 0.3%
Alternative Loan Trust
Series 2006-42, Class 1A6 6.00%, 01/25/2047			444		232,964
Series 2006-24CB, Class A15 5.75%, 08/25/2036			475		249,714
Series 2006-HY12, Class A5 4.47%, 08/25/2036			451		404,503
Series 2006-J1, Class 1A10 5.50%, 02/25/2036			496		333,904
Series 2006-J5, Class 1A1 6.50%, 09/25/2036			471		252,064
Bear Stearns ARM Trust
Series 2007-3, Class 1A1 4.41%, 05/25/2047			68		59,423
Series 2007-4, Class 22A1 4.40%, 06/25/2047			279		244,754
ChaseFlex Trust Series 2007-1, Class 1A3 6.50%, 02/25/2037			399		139,557
CHL Mortgage Pass-Through Trust Series 2007-HY4, Class 1A1 4.425%, 09/25/2047			83		70,753
Citigroup Mortgage Loan Trust Series 2007-AR4, Class 1A1A 4.65%, 03/25/2037			42		33,818
CitiMortgage Alternative Loan Trust Series 2007-A3, Class 1A4 5.75%, 03/25/2037			399		343,535
Residential Accredit Loans, Inc. Trust Series 2005-QS14, Class 3A1 6.00%, 09/25/2035			170		137,605
Residential Asset Securitization Trust Series 2006-A8, Class 3A4 6.00%, 08/25/2036			126		56,209
Washington Mutual Mortgage Pass-Through Certificates WMALT Trust Series 2006-9, Class A4 4.28%, 10/25/2036			1,207		332,228
Wells Fargo Mortgage Backed Securities Trust Series 2007-AR7, Class A1 5.97%, 12/28/2037			256		218,314

					3,109,345


Non-Agency Floating Rate – 0.3%
Alternative Loan Trust Series 2007-7T2, Class A3 6.00% (CME Term SOFR 1 Month + 0.71%), 04/25/2037^(j)			1,939		679,547
CHL Mortgage Pass-Through Trust Series 2007-13, Class A7 6.00% (CME Term SOFR 1 Month + 0.71%), 08/25/2037^(j)			285		112,582


	Principal Amount (000)			U.S. $ Value

First Horizon Alternative Mortgage Securities Trust
Series 2007-FA2, Class 1A6 0.09% (5.44% - CME Term SOFR 1 Month), 04/25/2037^(j)^(o)		U.S.$	70	$	4,969
Series 2007-FA2, Class 1A10 5.71% (CME Term SOFR 1 Month + 0.36%), 04/25/2037^(j)			208		48,085
Lehman XS Trust Series 2007-10H, Class 2AIO 1.56% (6.89% - CME Term SOFR 1 Month), 07/25/2037^(j)^(o)			104		8,669
Residential Accredit Loans, Inc. Trust Series 2006-QS18, Class 2A2 1.09% (6.44% - CME Term SOFR 1 Month), 12/25/2036^(j)^(o)			1,623		161,854
Wachovia Mortgage Loan Trust Series 2006-ALT1, Class A2 1.95% (CME Term SOFR 1 Month + 0.47%), 01/25/2037^(j)			4,894		1,800,959

					2,816,665


Agency Fixed Rate – 0.2%
Federal Home Loan Mortgage Corp. REMICS Series 4767, Class KI 6.00%, 03/15/2048^(p)			7,908		1,476,734
Federal Home Loan Mortgage Corp. Strips Series 247, Class 54 5.50%, 04/15/2036^(p)			3,555		680,035

					2,156,769


Total Collateralized Mortgage Obligations (cost $32,650,754)					29,640,529


EMERGING MARKETS - SOVEREIGNS – 2.3%
Angola – 0.3%
Angolan Government International Bond
8.00%, 11/26/2029^(b)			835		750,456
8.25%, 05/09/2028^(b)			200		187,750
9.50%, 11/12/2025^(b)			2,118		2,147,785

					3,085,991


Argentina – 0.1%
Argentine Republic Government International
Bond
0.75%, 07/09/2030^(a)			199		111,847
1.00%, 07/09/2029			1,099		628,093
3.625%, 07/09/2035^(a)			480		201,563

					941,503


Dominican Republic – 0.6%
Dominican Republic International Bond 8.625%, 04/20/2027^(b)			5,719		5,913,803


Egypt – 0.2%
Egypt Government International Bond
5.875%, 02/16/2031^(b)			316		244,900
8.50%, 01/31/2047^(b)			862		637,880
8.70%, 03/01/2049^(b)			611		455,195
8.875%, 05/29/2050^(b)			1,096		834,330

					2,172,305


El Salvador – 0.3%
El Salvador Government International Bond
6.375%, 01/18/2027^(b)			593		525,991
7.625%, 09/21/2034^(b)			762		528,399
7.625%, 02/01/2041^(b)			826		555,898
8.625%, 02/28/2029^(b)			860		758,520

					2,368,808


Nigeria – 0.5%
Nigeria Government International Bond
6.125%, 09/28/2028^(b)			3,176		2,784,955
6.50%, 11/28/2027^(b)			1,418		1,312,093
7.14%, 02/23/2030^(b)			721		625,242

					4,722,290


	Principal Amount (000)			U.S. $ Value

Ukraine – 0.2%
Ukraine Government International Bond 7.25%, 03/15/2035^(a)^(b)		U.S.$	1,886	$	536,567
7.375%, 09/25/2034^(a)^(b)			1,164		331,740
7.75%, 09/01/2025^(a)^(b)			3,507		1,106,458

					1,974,765


Venezuela – 0.1%
Venezuela Government International Bond 9.25%, 09/15/2027^(h)^(m)			2,901		535,235


Total Emerging Markets - Sovereigns (cost $28,234,772)					21,714,700


GOVERNMENTS - TREASURIES – 1.9%
Colombia – 0.2%
Colombian TES Series B 7.25%, 10/26/2050		COP	14,439,300		2,247,484


United States – 1.7%
U.S. Treasury Bonds 2.75%, 11/15/2042^(q)		U.S.$	2,154		1,657,907
5.00%, 05/15/2037^(q)			1,824		1,940,280
5.25%, 02/15/2029^(r)^(s)			320		331,600
6.125%, 11/15/2027^(r)			1,000		1,050,937
U.S. Treasury Notes 2.25%, 02/15/2027^(r)^(s)			10,811		10,192,463
2.875%, 08/15/2028^(r)^(s)			606		571,344

					15,744,531


Total Governments - Treasuries (cost $19,260,550)					17,992,015


QUASI-SOVEREIGNS – 1.0%
Quasi-Sovereign Bonds – 1.0%
Chile – 0.1%
Corp. Nacional del Cobre de Chile 5.95%, 01/08/2034^(b)			979		974,594
6.44%, 01/26/2036^(b)			453		465,741

					1,440,335


Mexico – 0.7%
Comision Federal de Electricidad 3.35%, 02/09/2031^(b)			775		638,648
4.69%, 05/15/2029^(b)			1,603		1,495,799
Petroleos Mexicanos 5.95%, 01/28/2031			1,946		1,564,098
6.375%, 01/23/2045			302		195,092
6.49%, 01/23/2027			463		443,971
6.50%, 03/13/2027			355		338,102
6.70%, 02/16/2032			234		195,781
8.75%, 06/02/2029			1,489		1,461,872

					6,333,363


South Africa – 0.1%
Eskom Holdings SOC Ltd. 7.125%, 02/11/2025^(b)			237		236,112
Transnet SOC Ltd. 8.25%, 02/06/2028^(b)			1,300		1,293,906

					1,530,018


Turkey – 0.1%
TC Ziraat Bankasi AS 8.00%, 01/16/2029^(b)⁽^c)			354		358,470


	Principal Amount (000)		U.S. $ Value

Turkiye Ihracat Kredi Bankasi AS 9.00%, 01/28/2027^(b)	U.S.$	208	$	216,125

				574,595


Total Quasi-Sovereigns (cost $9,786,967)				9,878,311


ASSET-BACKED SECURITIES – 0.4%
Other ABS - Floating Rate – 0.3%
Pagaya AI Debt Series 2024-S1, Class ABC 7.27%, 09/15/2031^(b)^(e)		2,860		2,860,000
Pagaya AI Debt Trust Series 2022-6, Class A4 32.895%, 05/15/2030^(b)^(e)		62		69,399

				2,929,399


Autos - Fixed Rate – 0.1%
Flagship Credit Auto Trust Series 2019-4, Class E 4.11%, 03/15/2027^(b)		770		752,779


Other ABS - Fixed Rate – 0.0%
Consumer Loan Underlying Bond Certificate Issuer Trust I Series 2019-24, Class PT 5.83%, 08/15/2044⁽ⁱ⁾		3		2,773
Series 2019-36, Class PT 10.55%, 10/17/2044⁽ⁱ⁾		9		8,914
Pagaya AI Debt Series 2024-S1, Class D 13.49%, 09/15/2031^(b)^(e)		265		265,000

				276,687

Total Asset-Backed Securities (cost $3,969,359)				3,958,865


LOCAL GOVERNMENTS - US MUNICIPAL BONDS – 0.4%
United States – 0.4%
State of California Series 2010 7.60%, 11/01/2040		750		898,542
State of Illinois Series 2010 7.35%, 07/01/2035		1,641		1,761,376
Wisconsin Public Finance Authority Series 2021 5.75%, 07/25/2041⁽ⁱ⁾		1,435		1,288,559


Total Local Governments - US Municipal Bonds (cost $3,841,911)				3,948,477


COMMERCIAL MORTGAGE-BACKED SECURITIES – 0.4%
Non-Agency Fixed Rate CMBS – 0.4%
Commercial Mortgage Trust Series 2012-CR3, Class F 4.75%, 10/15/2045^(b)		41		2,460
Series 2013-LC6, Class D 4.075%, 01/10/2046^(b)		1,224		1,146,845
Series 2014-CR20, Class XA 1.07%, 11/10/2047^(p)		6,729		477
WFRBS Commercial Mortgage Trust Series 2011-C4, Class D 5.14%, 06/15/2044^(b)		1,022		888,629
Series 2014-C25, Class D 3.80%, 11/15/2047^(b)		1,807		1,622,907


Total Commercial Mortgage-Backed Securities (cost $3,832,581)				3,661,318


	Principal Amount (000)		U.S. $ Value

GOVERNMENTS - SOVEREIGN BONDS – 0.3%
Colombia – 0.1%
Colombia Government International Bond 4.125%, 05/15/2051	U.S.$	1,058	$	635,329
8.00%, 11/14/2035		464		476,528

				1,111,857


Panama – 0.1%
Panama Government International Bond 7.50%, 03/01/2031		447		467,534
Panama Notas del Tesoro 3.75%, 04/17/2026		468		441,067

				908,601

Romania – 0.1%
Romanian Government International Bond 6.375%, 01/30/2034^(b)		336		337,411


Total Governments - Sovereign Bonds (cost $2,723,975)				2,357,869


INFLATION-LINKED SECURITIES – 0.2%
Colombia – 0.2%
Fideicomiso PA Pacifico Tres 7.00%, 01/15/2035⁽ⁱ⁾ (cost $3,043,893)		10,642,647		2,281,973


	Shares

COMMON STOCKS – 0.1%
Consumer Discretionary – 0.1%
Broadline Retail – 0.1%
ATD New Holdings, Inc.^(e)^(h)		20,185		314,886
K201640219 South Africa Ltd. - Class A^(e)^(g) (h)		12,695,187		12
K201640219 South Africa Ltd. - Class B^(e)^(g) (h)		2,009,762		2

				314,900


Diversified Consumer Services – 0.0%
AG Tracker^(e)^(g) (h)		68,037		0
CWT Travel Holdings, Inc.^(e)^(g) (h)		3,766		13,810
Paysafe Ltd.^(h)		10,709		189,335

				203,145


Hotels, Restaurants & Leisure – 0.0%
Caesars Entertainment, Inc.^(h)		1,674		66,525


Leisure Products – 0.0%
New Cotai LLC/New Cotai Capital Corp.^(e)^(g) (h)		3		0

				584,570


Financials – 0.0%
Insurance – 0.0%
Mt. Logan Re, Ltd. Special Investment, Series 1, June 2022 - Class U-2^(e)^(g) (h)		100		50,123
Mt. Logan Re, Ltd. Special Investment, Series 2, June 2022 - Class U-2^(e)^(h)		441		220,684

				270,807


Industrials – 0.0%
Electrical Equipment – 0.0%
Exide Technologies^(e)^(g) (h)		643		241,125


Consumer Staples – 0.0%
Household Products – 0.0%
Southeastern Grocers, Inc.^(e)^(g) (h)		105,865		79,399


Energy – 0.0%
Energy Equipment & Services – 0.0%
BIS Industries Holdings Ltd.^(e)^(g) (h)		838,296		1
CHC Group LLC^(e)^(g) (h)		21,009		4

				5


Company	Shares			U.S. $ Value

Oil, Gas & Consumable Fuels – 0.0%
SandRidge Energy, Inc.			243	$	3,142

					3,147

Total Common Stocks (cost $10,516,632)					1,179,048


PREFERRED STOCKS – 0.1%
Industrials – 0.1%
Trading Companies & Distributors – 0.1%
WESCO International, Inc. Series A 10.625% (cost $948,963)			35,175		912,088


RIGHTS – 0.0%
Vistra Energy Corp., expiring 12/31/2049^(e)^(h)(cost $0)			10,721		13,133


SHORT-TERM INVESTMENTS – 1.9%
Investment Companies – 1.3%
AB Fixed Income Shares, Inc. – Government Money Market Portfolio - Class AB, 5.22%^(t)^(u) (v)(cost $12,893,762)			12,893,762		12,893,762


	Principal Amount (000)

Time Deposits – 0.6%
BBH, New York 3.13%, 07/01/2024		NOK	1,682		157,510
6.08%, 07/01/2024		ZAR	40		2,187
Citibank, London 2.59%, 07/01/2024		EUR	1,933		2,070,088
Citibank, New York 4.68%, 07/01/2024		U.S.$	2,368		2,368,248
Royal Bank of Canada, London 4.15%, 07/01/2024		GBP	14		18,188
Royal Bank of Canada, Toronto 3.52%, 07/02/2024		CAD	1,145		837,099


Total Time Deposits (cost $5,453,320)					5,453,320


Total Short-Term Investments (cost $18,347,082)					18,347,082


Total Investments – 99.7% (cost $1,019,598,444)^(w)					953,995,236
Other assets less liabilities – 0.3%					2,903,718


Net Assets – 100.0%				$	956,898,954

FUTURES


Description	Number of Contracts		Expiration Month		Current Notional			Value and Unrealized Appreciation (Depreciation)
Purchased Contracts
U.S. 10 Yr Ultra Futures		95		September 2024		$	10,785,469		$	104,711
U.S. T-Note 5 Yr (CBT) Futures		572		September 2024			60,962,687			349,016
Sold Contracts
U.S. Long Bond (CBT) Futures		67		September 2024			7,926,938			(163,836	)
U.S. T-Note 10 Yr (CBT) Futures		232		September 2024			25,516,375			(221,320	)

									$	68,571

FORWARD CURRENCY EXCHANGE CONTRACTS


Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation (Depreciation)
Bank of America NA		USD	32		KRW	44,137		07/18/2024		$	(398	)
Bank of America NA		IDR	465,473		USD	29		07/19/2024			168
Bank of America NA		PEN	115		USD	31		07/19/2024			680
Bank of America NA		USD	50		CNH	361		07/23/2024			(478	)
Bank of America NA		USD	28		TWD	908		08/23/2024			(384	)
Barclays Bank PLC		BRL	191		USD	34		07/02/2024			191
Barclays Bank PLC		USD	37		BRL	191		07/02/2024			(2,480	)
Barclays Bank PLC		USD	35		IDR	567,856		07/19/2024			(286	)
Barclays Bank PLC		INR	2,340		USD	28		09/13/2024			(49	)
BNP Paribas SA		USD	32		COP	133,535		07/19/2024			391
BNP Paribas SA		USD	70		PEN	268		07/19/2024			(635	)
BNP Paribas SA		EUR	47,412		USD	51,050		08/08/2024			182,232
Brown Brothers Harriman & Co.		CZK	889		USD	38		07/11/2024			222
Brown Brothers Harriman & Co.		CZK	2,029		USD	86		07/11/2024			(1,076	)
Brown Brothers Harriman & Co.		HUF	37,852		USD	105		07/11/2024			1,959
Brown Brothers Harriman & Co.		PLN	411		USD	103		07/11/2024			1,120
Brown Brothers Harriman & Co.		PLN	151		USD	37		07/11/2024			(594	)
Brown Brothers Harriman & Co.		USD	45		CZK	1,071		07/11/2024			605
Brown Brothers Harriman & Co.		USD	49		HUF	18,132		07/11/2024			453
Brown Brothers Harriman & Co.		USD	70		HUF	25,037		07/11/2024			(1,839	)
Brown Brothers Harriman & Co.		USD	48		PLN	197		07/11/2024			449
Brown Brothers Harriman & Co.		USD	30		PLN	118		07/11/2024			(722	)
Brown Brothers Harriman & Co.		NOK	308		USD	29		07/19/2024			79
Brown Brothers Harriman & Co.		NOK	749		USD	68		07/19/2024			(2,254	)
Brown Brothers Harriman & Co.		SEK	340		USD	32		07/19/2024			356
Brown Brothers Harriman & Co.		SEK	1,141		USD	107		07/19/2024			(1,015	)
Brown Brothers Harriman & Co.		USD	68		NOK	743		07/19/2024			1,653
Brown Brothers Harriman & Co.		USD	51		SEK	541		07/19/2024			398
Brown Brothers Harriman & Co.		USD	107		SEK	1,113		07/19/2024			(1,851	)
Brown Brothers Harriman & Co.		CNH	866		USD	120		07/23/2024			789
Brown Brothers Harriman & Co.		USD	31		CNH	225		07/23/2024			(211	)
Brown Brothers Harriman & Co.		MXN	1,217		USD	70		07/25/2024			3,485
Brown Brothers Harriman & Co.		NZD	105		USD	64		07/25/2024			174
Brown Brothers Harriman & Co.		SGD	169		USD	126		07/25/2024			961
Brown Brothers Harriman & Co.		USD	62		MXN	1,104		07/25/2024			(1,845	)
Brown Brothers Harriman & Co.		USD	8		NZD	14		07/25/2024			(14	)
Brown Brothers Harriman & Co.		USD	32		SGD	43		07/25/2024			(274	)
Brown Brothers Harriman & Co.		CHF	79		USD	88		08/08/2024			(213	)
Brown Brothers Harriman & Co.		EUR	232		USD	249		08/08/2024			166
Brown Brothers Harriman & Co.		EUR	411		USD	441		08/08/2024			(242	)
Brown Brothers Harriman & Co.		USD	75		CHF	67		08/08/2024			576
Brown Brothers Harriman & Co.		USD	29		CHF	26		08/08/2024			(300	)
Brown Brothers Harriman & Co.		USD	29		EUR	27		08/08/2024			68
Brown Brothers Harriman & Co.		USD	34		ZAR	634		08/22/2024			561
Brown Brothers Harriman & Co.		USD	91		CAD	125		08/23/2024			433


Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation (Depreciation)
Brown Brothers Harriman & Co.		GBP	64		USD	82		08/29/2024		$	248
Brown Brothers Harriman & Co.		USD	70		GBP	55		08/29/2024			(321	)
Brown Brothers Harriman & Co.		AUD	94		USD	62		09/19/2024			(296	)
Citibank NA		USD	41		PEN	153		07/19/2024			(1,163	)
Citibank NA		USD	937		CAD	1,288		08/23/2024			6,316
Deutsche Bank AG		USD	32		TWD	1,026		08/23/2024			30
Goldman Sachs Bank USA		USD	33		COP	129,569		07/19/2024			(2,203	)
HSBC Bank USA		BRL	267		USD	48		07/02/2024			268
HSBC Bank USA		USD	52		BRL	267		07/02/2024			(3,988	)
HSBC Bank USA		USD	62		IDR	985,306		07/19/2024			(1,559	)
HSBC Bank USA		USD	30		INR	2,527		09/13/2024			72
JPMorgan Chase Bank NA		KRW	39,634		USD	29		07/18/2024			71
JPMorgan Chase Bank NA		CLP	35,782		USD	39		07/19/2024			709
JPMorgan Chase Bank NA		EUR	2,137		USD	2,302		08/08/2024			9,058
JPMorgan Chase Bank NA		TWD	1,590		USD	49		08/23/2024			310
Morgan Stanley Capital Services LLC		BRL	457		USD	84		07/02/2024			2,239
Morgan Stanley Capital Services LLC		USD	82		BRL	457		07/02/2024			(459	)
Morgan Stanley Capital Services LLC		KRW	1,960		USD	1		07/18/2024			17
Morgan Stanley Capital Services LLC		COP	24,282,391		USD	6,157		07/19/2024			326,455
Morgan Stanley Capital Services LLC		PEN	245		USD	66		07/19/2024			2,344
Morgan Stanley Capital Services LLC		USD	34		CLP	31,765		07/19/2024			188
Morgan Stanley Capital Services LLC		USD	24		CLP	22,221		07/19/2024			(205	)
Morgan Stanley Capital Services LLC		USD	21		COP	83,985		07/19/2024			(1,129	)
Morgan Stanley Capital Services LLC		USD	84		BRL	457		08/02/2024			(2,258	)
Morgan Stanley Capital Services LLC		GBP	3,121		USD	3,959		08/29/2024			11,807
Morgan Stanley Capital Services LLC		USD	1,984		GBP	1,564		08/29/2024			(5,917	)

										$	521,643

CENTRALLY CLEARED CREDIT DEFAULT SWAPS


Description	Fixed Rate (Pay) Receive			Payment Frequency		Implied Credit Spread at June 30, 2024			Notional Amount (000)			Market Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)
Sale Contracts
Brazilian Government International Bond, 4.250%, 01/07/2025, 06/20/2029*		1.00	%		Quarterly		1.69	%		USD	320	$	(9,519	)	$	(5,461	)	$	(4,058	)
CDX-NAHY Series 42, 5 Year Index, 06/20/2029*		5.00			Quarterly		3.45			USD	95,960		6,120,065			6,191,416			(71,351	)
Hertz Corp. (The), 5.000%, 12/01/2029, 06/20/2009*		5.00			Quarterly		21.25			USD	140		(57,826	)		(21,479	)		(36,347	)
iTraxx Europe Crossover Series 41, 5 Year Index, 06/20/2029*		5.00			Quarterly		3.20			EUR	33,120		2,686,841			3,158,693			(471,852	)
South Africa Government International Bond, 5.875%, 09/16/2025, 06/20/2029*		1.00			Quarterly		2.08			USD	2,380		(110,690	)		(145,771	)		35,081

												$	8,628,871		$	9,177,398		$	(548,527	)

*	Termination date

CREDIT DEFAULT SWAPS


Swap Counterparty & Referenced Obligation	Fixed Rate (Pay) Receive			Payment Frequency		Implied Credit Spread at June 30, 2024			Notional Amount (000)		Market Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)
Sale Contracts
Citigroup Global Markets, Inc.
CDX-CMBX.NA.BBB-Series 6, 05/11/2063*		3.00	%		Monthly		5.00	%	USD	202	$	(26,858	)	$	(20,343	)	$	(6,515	)
Deutsche Bank AG
CDX-CMBX.NA.BBB-Series 6, 05/11/2063*		3.00			Monthly		5.00		USD	162		(21,547	)		(17,016	)		(4,531	)
CDX-CMBX.NA.BBB-Series 6, 05/11/2063*		3.00			Monthly		5.00		USD	115		(15,263	)		(11,421	)		(3,842	)
Goldman Sachs International
CDX-CMBX.NA.BBB-Series 6, 05/11/2063*		3.00			Monthly		5.00		USD	165		(21,962	)		(12,493	)		(9,469	)
CDX-CMBX.NA.BBB-Series 6, 05/11/2063*		3.00			Monthly		5.00		USD	961		(127,744	)		(74,366	)		(53,378	)
CDX-CMBX.NA.BBB-Series 6, 05/11/2063*		3.00			Monthly		5.00		USD	80		(10,655	)		(6,433	)		(4,222	)
CDX-CMBX.NA.BBB-Series 6, 05/11/2063*		3.00			Monthly		5.00		USD	160		(21,310	)		(13,104	)		(8,206	)
CDX-CMBX.NA.BBB-Series 6, 05/11/2063*		3.00			Monthly		5.00		USD	160		(21,310	)		(14,180	)		(7,130	)
CDX-CMBX.NA.BBB-Series 6, 05/11/2063*		3.00			Monthly		5.00		USD	320		(42,562	)		(30,955	)		(11,607	)
CDX-CMBX.NA.BBB-Series 6, 05/11/2063*		3.00			Monthly		5.00		USD	463		(61,584	)		(44,792	)		(16,792	)
CDX-CMBX.NA.BBB-Series 6, 05/11/2063*		3.00			Monthly		5.00		USD	236		(31,354	)		(22,653	)		(8,701	)
CDX-CMBX.NA.BBB-Series 6, 05/11/2063*		3.00			Monthly		5.00		USD	59		(7,868	)		(5,726	)		(2,142	)
JPMorgan Securities LLC
CDX-CMBX.NA.BBB-Series 6, 05/11/2063*		3.00			Monthly		5.00		USD	5,342		(709,457	)		(549,715	)		(159,742	)
CDX-CMBX.NA.BBB-Series 6, 05/11/2063*		3.00			Monthly		5.00		USD	2,849		(378,377	)		(307,386	)		(70,991	)
Morgan Stanley Capital Services LLC
CDX-CMBX.NA.BBB-Series 6, 05/11/2063*		3.00			Monthly		5.00		USD	1,487		(197,465	)		(14,746	)		(182,719	)
CDX-CMBX.NA.BBB-Series 6, 05/11/2063*		3.00			Monthly		5.00		USD	529		(70,280	)		(49,767	)		(20,513	)
CDX-CMBX.NA.BBB-Series 6, 05/11/2063*		3.00			Monthly		5.00		USD	566		(75,250	)		(55,490	)		(19,760	)

											$	(1,840,846	)	$	(1,250,586	)	$	(590,260	)

*	Termination date

REVERSE REPURCHASE AGREEMENTS


Broker	Currency		Principal Amount (000)		Interest Rate			Maturity		U.S. $ Value at June 30, 2024
Bank of New York Mellon Corp. (The)†		USD		284		4.25	%		—	$	284,504
Barclays Capital, Inc.†		USD		473		2.25			—		479,412
Barclays Capital, Inc.†		USD		683		3.00			—		688,924
Barclays Capital, Inc.†		USD		1,499		3.25			—		1,501,516
Barclays Capital, Inc.†		USD		917		4.75			—		918,043
Jefferies LLC†		USD		1,655		0.00			—		1,654,800
Jefferies LLC†		USD		236		0.00			—		235,600
Jefferies LLC†		USD		407		0.50			—		406,979
Jefferies LLC†		USD		536		3.00			—		536,530
Jefferies LLC†		USD		683		3.00			—		684,885
Jefferies LLC†		USD		366		3.50			—		368,206

										$	7,759,399

†	The reverse repurchase agreement matures on demand. Interest rate resets daily and the rate shown is the rate in effect on June 30, 2024.

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


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

Corporates - Non-Investment Grade	$	5,690,366	$	-0-	$	-0-	$	-0-	$	5,690,366
Emerging Markets - Corporate Bonds		1,700,827		-0-		-0-		-0-		1,700,827
Quasi-Sovereigns		368,206		-0-		-0-		-0-		368,206

Total	$	7,759,399	$	-0-	$	-0-	$	-0-	$	7,759,399

(a)

Coupon rate adjusts periodically based upon a predetermined schedule. Stated interest rate in effect at June 30, 2024.

(b)

Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities are considered restricted, but liquid and may be resold in transactions exempt from registration. At June 30, 2024, the aggregate market value of these securities amounted to $699,435,915 or 73.09% of net assets.

(c)

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

(d)

Pay-In-Kind Payments (PIK). The issuer may pay cash interest and/or interest in additional debt securities. Rates shown are the rates in effect at June 30, 2024.

(e)

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

(f)

Defaulted matured security.

(g)

Fair valued by the Adviser.

(h)

Non-income producing security.

(i)

Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities, which represent 0.49% of net assets as of June 30, 2024, are considered illiquid and restricted. Additional information regarding such securities follows:

144A/Restricted & Illiquid Securities

Acquisition

Date

Cost

Market
Value

Percentage

Net Assets

BBFI Liquidating Trust
Zero Coupon, 12/30/2099

01/18/2013 - 06/17/2022

667,807

225,817

0.02%

Consumer Loan Underlying Bond
Certificate Issuer Trust I
Series 2019-24, Class PT
5.83%, 08/15/2044

06/27/2019

2,757

2,773

0.00%

Consumer Loan Underlying Bond
Certificate Issuer Trust I
Series 2019-36, Class PT
10.55%, 10/17/2044

09/04/2019

9,054

8,914

0.00%

Curo Group Holdings Corp.
7.50%, 08/01/2028

07/16/2021 - 05/10/2022

3,417,696

826,928

0.09%

Digicel Group Holdings Ltd.
Zero Coupon, 12/31/2030

11/14/2023

9,413

1,394

0.00%

Exide Technologies
11.00%, 10/31/2024

10/29/2020

0.00%

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

03/04/2016

3,043,893

2,281,973

0.24%

K2016470219 South Africa Ltd.
3.00%, 12/31/2022

01/31/2017 - 06/30/2022

1,100,178

0.00%

K2016470260 South Africa Ltd.
25.00%, 12/31/2022

01/31/2017 - 06/30/2022

770,975

0.00%

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

05/15/2013 - 02/19/2015

2,295,760

0.00%

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

01/22/2021

688,103

3,327

0.00%

Tonon Luxembourg SA
6.50%, 10/31/2024

05/03/2019 - 10/31/2021

1,209,003

0.00%

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

01/23/2014 - 01/27/2014

2,401,853

409

0.00%

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

06/09/2014

477,418

0.00%

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

01/29/2014 - 02/05/2014

838,866

162

0.00%

Wisconsin Public Finance Authority
Series 2021
5.75%, 07/25/2041

08/03/2021

1,435,000

1,288,559

0.13%

(j)

Floating Rate Security. Stated interest/floor/ceiling rate was in effect at June 30, 2024.

(k)

Escrow Shares.

(l)

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

(m)

Defaulted.

(n)

The stated coupon rate represents the greater of the SOFR or an alternate base rate such as the PRIME or the SOFR/PRIME floor rate plus a spread at June 30, 2024.

(o)

Inverse interest only security.

(p)

IO - Interest Only.

(q)

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

(r)

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

(s)

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

(t)

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

(u)

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

(v)

Affiliated investments.

(w)

As of June 30, 2024, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $22,675,549 and gross unrealized depreciation of investments was $(88,827,330), resulting in net unrealized depreciation of $(66,151,781).

Currency Abbreviations:

AUD – Australian Dollar

BRL – Brazilian Real

CAD – Canadian Dollar

CHF – Swiss Franc

CLP – Chilean Peso

CNH – Chinese Yuan Renminbi (Offshore)

COP – Colombian Peso

CZK – Czech Koruna

EUR – Euro

GBP – Great British Pound

HUF – Hungarian Forint

IDR – Indonesian Rupiah

INR – Indian Rupee

KRW – South Korean Won

MXN – Mexican Peso

NOK – Norwegian Krone

NZD – New Zealand Dollar

PEN – Peruvian Sol

PLN – Polish Zloty

SEK – Swedish Krona

SGD – Singapore Dollar

TWD – New Taiwan Dollar

USD – United States Dollar

ZAR – South African Rand

Glossary:

ABS – Asset-Backed Securities

CBT – Chicago Board of Trade

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

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

CLO – Collateralized Loan Obligations

CMBS – Commercial Mortgage-Backed Securities

CME – Chicago Mercantile Exchange

EURIBOR – Euro Interbank Offered Rate

JSC – Joint Stock Company

REIT – Real Estate Investment Trust

REMICS – Real Estate Mortgage Investment Conduits

SOFR – Secured Overnight Financing Rate

COUNTRY BREAKDOWN¹

June 30, 2024 (unaudited)


66.6	%	United States
4.2	%	United Kingdom
2.6	%	France
2.0	%	Canada
1.9	%	Germany
1.8	%	Spain
1.3	%	Brazil
1.3	%	Mexico
1.2	%	Luxembourg
1.2	%	Colombia
1.0	%	Australia
1.0	%	Italy
0.9	%	India
11.1	%	Other
1.9	%	Short-Term Investments

100.0	%	Total Investments

The Fund’s country breakdown is expressed as a percentage of total investments and may vary over time. The Fund also enters into derivative transactions, which may be used for hedging or investment purposes (see “Portfolio of Investments” section of the report for additional details). “Other” country weightings represent 0.7% or less in the following: Angola, Argentina, Chile, China, Czech Republic, Dominican Republic, Egypt, El Salvador, Finland, Guatemala, Hong Kong, Indonesia, Ireland, Israel, Jamaica, Japan, Jersey (Channel Islands), Kazakhstan, Kuwait, Macau, Malaysia, Morocco, Netherlands, Nigeria, Norway, Panama, Peru, Puerto Rico, Romania, Slovenia, South Africa, Sweden, Switzerland, Trinidad and Tobago, Turkey, Ukraine, United Republic of Tanzania, Venezuela and Zambia.

AB Global High Income Fund

June 30, 2024 (unaudited)

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

•

Level 1 - quoted prices in active markets for identical investments

•

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

•

Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

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

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

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

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

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

Other fixed income investments, including non-U.S. government and corporate debt, are generally valued using quoted market prices, if available, which are typically impacted by current interest rates, maturity dates and any perceived credit risk of the issuer. Additionally, in the absence of quoted market prices, these inputs are used by pricing vendors to derive a valuation based upon industry or proprietary models which incorporate issuer specific data with relevant yield/spread comparisons with more widely quoted bonds with similar key characteristics. Those investments for which there are observable inputs are classified as Level 2. Where the inputs are not observable, the investments are classified as Level 3.

The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of June 30, 2024:


Investments in Securities	Level 1			Level 2			Level 3			Total

Assets:
Corporates - Non-Investment Grade	$	-0-		$	531,527,858		$	1,686,078	^#	$	533,213,936
Corporates - Investment Grade		-0-			185,356,151			-0-			185,356,151
Emerging Markets - Corporate Bonds		-0-			54,180,392			227,830	^#		54,408,222
Collateralized Loan Obligations		-0-			29,715,881			5,000,000			34,715,881
Bank Loans		-0-			30,169,372			246,266			30,415,638
Collateralized Mortgage Obligations		-0-			29,640,529			-0-			29,640,529
Emerging Markets - Sovereigns		-0-			21,714,700			-0-			21,714,700
Governments - Treasuries		-0-			17,992,015			-0-			17,992,015
Quasi-Sovereigns		-0-			9,878,311			-0-			9,878,311
Asset-Backed Securities		-0-			764,466			3,194,399			3,958,865
Local Governments - US Municipal Bonds		-0-			3,948,477			-0-			3,948,477
Commercial Mortgage-Backed Securities		-0-			3,661,318			-0-			3,661,318
Governments - Sovereign Bonds		-0-			2,357,869			-0-			2,357,869
Inflation-Linked Securities		-0-			2,281,973			-0-			2,281,973
Common Stocks		259,002			-0-			920,046	^#		1,179,048
Preferred Stocks		912,088			-0-			-0-			912,088
Rights		-0-			-0-			13,133			13,133
Short-Term Investments:
Investment Companies		12,893,762			-0-			-0-			12,893,762
Time Deposits		5,453,320			-0-			-0-			5,453,320

Total Investments in Securities		19,518,172			923,189,312			11,287,752			953,995,236
*Other Financial Instruments:**
Assets
Futures		453,727			-0-			-0-			453,727
Forward Currency Exchange Contracts		-0-			558,301			-0-			558,301
Centrally Cleared Credit Default Swaps		-0-			8,806,906			-0-			8,806,906
Liabilities
Futures		(385,156	)		-0-			-0-			(385,156	)
Forward Currency Exchange Contracts		-0-			(36,658	)		-0-			(36,658	)
Centrally Cleared Credit Default Swaps		-0-			(178,035	)		-0-			(178,035	)
Credit Default Swaps		-0-			(1,840,846	)		-0-			(1,840,846	)
Reverse Repurchase Agreements		(7,759,399	)		-0-			-0-			(7,759,399	)

Total	$	11,827,344		$	930,498,980		$	11,287,752		$	953,614,076

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

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

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


	Corporates - Non- Investment Grade#			Emerging Markets - Corporate Bonds#			Collateralized Loan Obligations		Bank Loans
Balance as of 03/31/24	$	1,389,097		$	227,898		$	-0-	$	1,157,447
Accrued discounts/(premiums)		1,032			1,117			-0-		-0-
Realized gain (loss)		-0-			122			-0-		29,756
Change in unrealized appreciation (depreciation)		248,930			(1,172	)		-0-		(35,613	)
Purchases		47,019			-0-			5,000,000		-0-
Sales		-0-			(135	)		-0-		(850,600	)
Transfers into Level 3		-0-			-0-			-0-		235,187
Transfers out of Level 3		-0-			-0-			-0-		(289,911	)

Balance as of 06/30/24	$	1,686,078		$	227,830		$	5,000,000	$	246,266

Net change in unrealized appreciation (depreciation) from investments held as of 06/30/24	$	248,930		$	(1,110	)	$	-0-	$	(1,613	)

	Asset-Backed Securities			Common Stocks#			Rights		Total
Balance as of 03/31/24	$	80,047		$	1,169,581		$	13,133	$	4,037,203
Accrued discounts/(premiums)		(23	)		-0-			-0-		2,126
Realized gain (loss)		-0-			10,058			-0-		39,936
Change in unrealized appreciation (depreciation)		(10,625	)		(249,539	)		-0-		(48,019	)
Purchases		3,125,000			-0-			-0-		8,172,019
Sales		-0-			(10,058	)		-0-		(860,793	)
Transfers into Level 3		-0-			4			-0-		235,191
Transfers out of Level 3		-0-			-0-			-0-		(289,911	)

Balance as of 06/30/24	$	3,194,399		$	920,046		$	13,133	$	11,287,752

Net change in unrealized appreciation (depreciation) from investments held as of 06/30/24	$	(10,625	)	$	(249,539	)	$	-0-	$	(13,957	)

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

The following presents information about significant unobservable inputs related to the Fund’s Level 3 investments at June 30, 2024. Securities priced (i) by third party vendors, (ii) by brokers or (iii) using prior transaction prices, which approximates fair value, are excluded from the following table.


	Quantitative Information about Level 3 Fair Value Measurements
	Fair Value at 06/30/24		Valuation Technique	Unobservable Input	Input
Corporates - Non-Investment Grade	$	-0-	Qualitative Assessment		$	0.00
	$	-0-	Recovery		$	0.00

	$	-0-

Emerging Markets - Corporate Bonds	$	225,817	Recovery	Expected Sale Price	$	28.95
	$	-0-	Qualitative Assessment		$	0.00
	$	-0-	Qualitative Assessment		$	0.00
	$	-0-	Qualitative Assessment		$	0.00

	$	225,817

Common Stocks	$	241,125	Guideline Public Company, Discounted Cash Flow, and Optional Value	Volatility, Weighted Average Cost of Capital, and Discount Rate	$	375.00
	$	220,684	NAV Calculation	Catastrophe Claims	$	500.58
	$	50,123	NAV Calculation	Catastrophe Claims	$	500.58
	$	1	Qualitative Assessment		$	0.00
	$	-0-	Qualitative Assessment		$	0.00

	$	511,933

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

A summary of the Fund’s transactions in AB mutual funds for the three months ended June 30, 2024 is as follows:

Fund

Market Value

3/31/24

(000)

Purchases

at Cost

(000)

Sales

Proceeds

(000)

Market Value

6/30/24

(000)

Dividend

Income

(000)

Government Money Market Portfolio

7,585

59,753

54,444

12,894

151

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