# DWS Invest Global High Yield Corporates
DWS INVEST GLOBAL HIGH YIELD CORPORATES

### Performance of share classes (in USD)
| Share class | ISIN | 6 months |
| --- | --- | --- |
| Class USD FC | LU1506496097 | -5.5% |
| Class USD IC | LU2019219026 | -5.3% |
| Class USD IC50 | LU2019219372 | -5.3% |
| Class USD LD | LU1506496170 | -5.7% |
| Class USD TFC | LU1663931241 | -5.5% |
| Class USD XC | LU1506496253 | -5.2% |
| Class CHF ICH50 2 | LU2019218564 | -6.8% |
| Class CHF XCH 2 | LU1506495529 | -6.7% |
| Class FCH 3 | LU1506495875 | -6.8% |
| Class ICH 3 | LU2019218721 | -7.1% |
| Class TFCH 3 | LU1663931167 | -6.8% |
| Class XCH 3 | LU1506496337 | -6.6% |
| Class GBP TFDQH 4 | LU2104179317 | -7.5% 1 |

1 
Launched on February 14, 2020
2 
in CHF
3 
in EUR
4 
in GBP
“BVI method” performance, i.e., excluding the initial sales charge.
Past performance is no guide to future results.	As of: June 30, 2020
The format used for complete dates
in security names in the investment
portfolio is “day/month/year”.
DWS Invest Global High Yield Corporates
| Statement of net assets as of June 30, 2020 |  |
| --- | --- |
|  | Amount in USD | % of net assets |
| I. Assets |  |  |
| 1. Bonds (issuers) Companies | 151 161 353.55 | 97.62 |
| Institutions | 186 953.64 | 0.12 |
| Total bonds | 151 348 307.19 | 97.74 |
| 2. Derivativess | -19 237.63 | - 0.01 |
| 3. Cash at bank | 3 944 478.85 | 2.54 |
| 4. Other assets | 3 598 504.79 | 2.33 |
| II. Liabilities |  |  |
| 1. Other liabilities | -4 028 240.39 | - 2.60 |
| III. Net assets | 154 843 812.81 | 100.00 |
| Negligible rounding errors may have arisen due to the rounding of calculated percentages. |  |  |

| Investment portfolio – June 30, 2020 |  |
| --- | --- |
|  | Count/ | Quantity/ | Purchases/ | Sales/ |  | Market price | Total market | % of |
| Security name | units/ currency | principal amount | additions in the | disposals reporting period |  |  | value in USD | net assets |
| Securities traded on an exchange |  |  |  |  |  |  | 43 875 644.83 | 28.34 |
| Interest-bearing securities 3.50  % Adient Global Holdings Ltd -Reg- (MTN) 2016/2024 ................................  | EUR | 180 000 | 180 000 |  | % | 89.236 | 180 019.16 | 0.12 |
| 5.875 % Altice France SA/France -Reg- (MTN) 2018/2027 ..  | EUR | 370 000 |  | 300 000 | % | 105.623 | 437 994.64 | 0.28 |
| 3.375 % Altice France SA/France -Reg- (MTN) 2019/2028 ..  | EUR | 730 000 |  |  | % | 94.868 | 776 163.95 | 0.50 |
| 4.75 % Avantor, Inc. -Reg- (MTN) 2017/2024 ...........  | EUR | 180 000 |  |  | % | 103.32 | 208 431.51 | 0.13 |
| 3.75  % Bankia SA (MTN) 2019/2029 * ................  | EUR | 100 000 |  |  | % | 99.064 | 111 026.49 | 0.07 |
| 4.75  % BWAY Holding Co. (MTN) 2018/2024 ...........  | EUR | 200 000 |  |  | % | 97.806 | 219 233.18 | 0.14 |
| 1.865 % Casino Guichard Perrachon SA (MTN) 2017/2022 . | EUR | 300 000 |  |  | % | 96.644 | 324 939.48 | 0.21 |
| 4.25  % Constellium NV -Reg- (MTN) 2017/2026 .........  | EUR | 975 000 |  |  | % | 98.579 | 1 077 203.11 | 0.70 |
| 4.25  % Evoca SpA -Reg- (MTN) 2019/2026 * ...........  | EUR | 440 000 |  |  | % | 85.808 | 423 142.36 | 0.27 |
| 1.528 % FCE Bank PLC (MTN) 2015/2020 ..............  | EUR | 685 000 | 685 000 |  | % | 99.482 | 763 732.86 | 0.49 |
| 3.021 % Ford Motor Credit Co. LLC (MTN) 2019/2024 ....  | EUR | 210 000 | 210 000 |  | % | 96.109 | 226 199.65 | 0.15 |
| 1.514 % Ford Motor Credit Co. LLC 2019/2023 ..........  3.00 % Globalworth Real Estate Investments Ltd (MTN) 2018/2025 ................................  | EUR EUR | 335 000 140 000 | 335 000 |  | % % | 94.12 100.766 | 353 372.71 158 106.83 | 0.23 0.10 |
| 2.25 % IQVIA, Inc. -Reg- (MTN) 2019/2028 ............  | EUR | 220 000 |  |  | % | 96.329 | 237 513.51 | 0.15 |
| 3.75 % Kronos International, Inc. -Reg- (MTN) 2017/2025 . | EUR | 255 000 |  |  | % | 98.324 | 280 999.85 | 0.18 |
| 3.625 % LKQ European Holdings BV -Reg- (MTN) 2018/2026 | EUR | 435 000 |  |  | % | 101.998 | 497 264.40 | 0.32 |
| 3.625 % Netflix, Inc. (MTN) 2017/2027 .................  | EUR | 845 000 |  |  | % | 104.452 | 989 200.04 | 0.64 |
| 4.625 % Netflix, Inc. 2018/2029 ......................  | EUR | 200 000 |  |  | % | 111.286 | 249 448.59 | 0.16 |
| 3.625 % Netflix, Inc. 2019/2030 ......................  | EUR | 250 000 |  |  | % | 103.02 | 288 649.05 | 0.19 |
| 3.25  % Nomad Foods Bondco PLC -Reg- (MTN) 2017/2024 | EUR | 180 000 |  |  | % | 101.075 | 203 903.57 | 0.13 |
| 3.25  % Pro-Gest SpA -Reg- (MTN) 2017/2024 ..........  | EUR | 370 000 |  |  | % | 68.638 | 284 628.30 | 0.18 |
| 3.25  % Quintiles IMS, Inc. -Reg- (MTN) 2017/2025 ......  | EUR | 380 000 |  |  | % | 100.949 | 429 926.48 | 0.28 |
| 4.50  % Refinitiv US Holdings, Inc. -Reg- (MTN) 2018/2026 | EUR | 200 000 |  |  | % | 104.498 | 234 233.30 | 0.15 |
| 2.875 % SPCM SA -Reg- (MTN) 2015/2023 .............  | EUR | 135 000 |  |  | % | 99.523 | 150 579.48 | 0.10 |
| 5.875 % Telefonica Europe BV 2014/2049 *.............  4.50 % Teva Pharmaceutical Finance Netherlands II BV (MTN) 2018/2025 ..........................  | EUR EUR | 800 000 225 000 | 225 000 |  | % % | 108.166 99.738 | 969 815.97 251 507.97 | 0.63 0.16 |
| 6.00  % Teva Pharmaceutical Finance Netherlands II BV -Reg- (MTN) 2019/2025 ......................      | EUR | 100 000 |  |  | % | 105.914 | 118 703.07 | 0.08 |
| 1.875 % thyssenkrupp AG (MTN) 2019/2023 ............  | EUR | 730 000 | 730 000 |  | % | 96.408 | 788 763.42 | 0.51 |
| 4.00  % UPCB Finance IV Ltd -Reg- 2015/2027 ..........  | EUR | 90 000 |  |  | % | 101.198 | 102 076.36 | 0.07 |
| 5.00  % Altice Financing SA -144A- (MTN) 2020/2028.....  | USD | 750 000 | 1 010 000 | 260 000 | % | 99.58 | 746 850.00 | 0.48 |
| 7.375 % Altice France SA/France -144A- (MTN) 2016/2026 . 6.25 % American Axle & Manufacturing, Inc. (MTN) 2018/2026 ................................  | USD USD | 1 208 000 155 000 |  |  | % % | 104.085 97.204 | 1 257 346.80 150 666.20 | 0.81 0.10 |
| 5.625 % AmeriGas Partners LP Via AmeriGas Finance Corp. (MTN) 2016/2024 ..........................  | USD | 500 000 |  |  | % | 104.34 | 521 702.50 | 0.34 |
| 5.50 % AmeriGas Partners LP Via AmeriGas Finance Corp. (MTN) 2016/2025 ..........................  | USD | 230 000 |  |  | % | 103.86 | 238 876.85 | 0.15 |
| 5.75 % AmeriGas Partners LP Via AmeriGas Finance Corp. (MTN) 2017/2027 ..........................  | USD | 45 000 |  |  | % | 105.496 | 47 473.43 | 0.03 |
| 6.50  % ARD Finance SA -144A- (MTN) 2019/2027 * .....  | USD | 200 000 | 200 000 |  | % | 99.4 | 198 801.00 | 0.13 |
| 5.875 % Beazer Homes USA, Inc. (MTN) 2018/2027 ......  | USD | 100 000 | 265 000 | 790 000 | % | 95.714 | 95 713.50 | 0.06 |
| 6.375 % Boyd Gaming Corp. (MTN) 2017/2026 ..........  | USD | 300 000 | 300 000 |  | % | 95.323 | 285 969.00 | 0.18 |
| 5.625 % CenturyLink, Inc. (MTN) 2015/2025 ............  | USD | 150 000 |  | 1 910 000 | % | 103.714 | 155 571.00 | 0.10 |
| 5.15  % CF Industries, Inc. 2014/2034 .................  | USD | 60 000 |  | 55 000 | % | 107.631 | 64 578.60 | 0.04 |
| 7.00  % Chemours Co. (MTN) 2016/2025 ..............  | USD | 480 000 | 235 000 | 240 000 | % | 95.364 | 457 747.20 | 0.30 |
| 5.375 % Chemours Co./The (MTN) 2017/2027 ...........  6.25 % CHS Via Community Health Systems, Inc. (MTN) 2017/2023 ................................  | USD USD | 105 000 1 248 000 | 425 000 | 90 000 200 000 | % % | 91.245 94.228 | 95 807.25 1 175 959.20 | 0.06 0.76 |
| 5.75 % Crestwood Midstream Partners LP via Crestwood Midstream Finance Corp. (MTN) 2017/2025......  | USD | 120 000 |  |  | % | 91.396 | 109 675.80 | 0.07 |
| 5.375 % Dana, Inc. (MTN) 2019/2027 ..................  | USD | 250 000 |  |  | % | 99.848 | 249 620.00 | 0.16 |
| 5.625 % Dana, Inc. (MTN) 2020/2028 ..................  | USD | 100 000 | 100 000 |  | % | 99.434 | 99 433.50 | 0.06 |
| 5.125 % DCP Midstream Operating LP (MTN) 2019/2029 ..  | USD | 230 000 | 230 000 |  | % | 95.997 | 220 793.10 | 0.14 |
| 4.50  % Encompass Health Corp. (MTN) 2019/2028 ......  | USD | 150 000 |  |  | % | 95.103 | 142 654.50 | 0.09 |
| 4.75  % Encompass Health Corp. 2019/2030............  | USD | 399 000 | 275 000 |  | % | 96.134 | 383 572.67 | 0.25 |
| 4.40  % EnLink Midstream Partners LP (MTN) 2014/2024 . | USD | 680 000 |  |  | % | 83.928 | 570 713.80 | 0.37 |
| 6.125 % EQT Corp. (MTN) 2020/2025..................  | USD | 320 000 | 320 000 |  | % | 99.716 | 319 092.80 | 0.21 |
| 7.00  % EQT Corp. (MTN) 2020/2030..................  | USD | 400 000 | 500 000 | 100 000 | % | 102.874 | 411 498.00 | 0.27 |
| 9.00  % Ford Motor Co. (MTN) 2020/2025..............  | USD | 995 000 | 995 000 |  | % | 108.438 | 1 078 963.08 | 0.70 |
| 9.625 % Ford Motor Co. (MTN) 2020/2030..............  | USD | 110 000 | 110 000 |  | % | 118.856 | 130 741.60 | 0.08 |
| 8.50  % Ford Motor Co. 2020/2023 ...................  | USD | 505 000 | 505 000 |  | % | 105.662 | 533 590.58 | 0.34 |
| 3.219 % Ford Motor Credit Co. LLC (MTN) 2015/2022 ....  | USD | 950 000 | 950 000 |  | % | 97.628 | 927 470.75 | 0.60 |
| 4.14  % Ford Motor Credit Co. LLC (MTN) 2018/2023 ....  | USD | 356 000 | 356 000 |  | % | 98.072 | 349 134.54 | 0.23 |
| 5.113 % Ford Motor Credit Co. LLC (MTN) 2019/2029 ....  | USD | 200 000 | 200 000 |  | % | 98.048 | 196 097.00 | 0.13 |
| 5.125 % Ford Motor Credit Co. LLC (MTN) 2020/2025 ....  | USD | 850 000 | 850 000 |  | % | 100.068 | 850 578.00 | 0.55 |
| 5.00  % Freeport-McMoRan, Inc. (MTN) 2019/2027 ......  | USD | 260 000 | 500 000 | 1 085 000 | % | 100.572 | 261 488.50 | 0.17 |
| 4.125 % Freeport-McMoRan, Inc. (MTN) 2020/2028 ......  | USD | 810 000 | 810 000 |  | % | 96.508 | 781 710.75 | 0.50 |
| 4.25  % Freeport-McMoRan, Inc. (MTN) 2020/2030 ......  6.50 % Genesis Energy LP via Genesis Energy Finance Corp. (MTN) 2017/2025......................  | USD USD | 460 000 280 000 | 460 000 |  | % % | 97.24 86.362 | 447 301.70 241 812.20 | 0.29 0.16 |
| 6.25 % Genesis Energy LP Via Genesis Energy Finance |  |  |  |  |  |  |  |  |
| Corp. (MTN) 2017/2026......................  | USD | 220 000 | % | 85.676 | 188 488.30 | 0.12 |

| Security name | Count/ units/ currency | Quantity/ principal amount | Purchases/ additions in the | Sales/ disposals reporting period |  | Market price | Total market value in USD | % of net assets |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 5.625 % HCA, Inc. (MTN) 2018/2028 ..................  | USD | 150 000 | 150 000 |  | % | 111.636 | 167 453.25 | 0.11 |
| 5.875 % HCA, Inc. (MTN) 2019/2029 ..................  | USD | 275 000 | 275 000 |  | % | 113.26 | 311 466.38 | 0.20 |
| 5.875 % HCA, Inc. 2015/2026 ........................  | USD | 410 000 | 410 000 |  | % | 109.82 | 450 262.00 | 0.29 |
| 5.75 % Hillenbrand, Inc. (MTN) 2020/2025 .............  | USD | 560 000 | 560 000 |  | % | 103.916 | 581 932.40 | 0.38 |
| 6.875 % Howmet Aerospace, Inc. (MTN) 2020/2025 ......  | USD | 830 000 | 830 000 |  | % | 108.776 | 902 840.80 | 0.58 |
| 5.25 % iStar, Inc. (MTN) 2017/2022 ..................  | USD | 165 000 | 165 000 |  | % | 97.85 | 161 452.50 | 0.10 |
| 4.25 % iStar, Inc. (MTN) 2019/2025 ..................  | USD | 545 000 |  | 400 000 | % | 91.974 | 501 255.58 | 0.32 |
| 6.625 % L Brands, Inc. (MTN) 2011/2021 ...............  | USD | 150 000 | 150 000 |  | % | 103.376 | 155 064.00 | 0.10 |
| 5.625 % L Brands, Inc. (MTN) 2012/2022 ...............  | USD | 160 000 | 160 000 |  | % | 98.705 | 157 928.00 | 0.10 |
| 6.25  % Meritor, Inc. (MTN) 2014/2024 ................  4.625 % MPT Operating Partnership LP Via MPT Finance Corp. (MTN) 2019/2029......................  | USD USD | 300 000 475 000 |  |  | % % | 102.392 100.814 | 307 176.00 478 866.50 | 0.20 0.31 |
| 5.625 % Murphy Oil USA, Inc. (MTN) 2017/2027 .........  | USD | 30 000 |  |  | % | 103.858 | 31 157.25 | 0.02 |
| 5.75  % NRG Energy, Inc. (MTN) 2018/2028 ............  | USD | 490 000 |  |  | % | 105.83 | 518 569.45 | 0.33 |
| 2.60  % Occidental Petroleum Corp. (MTN) 2016/2022 ....  | USD | 585 000 | 585 000 |  | % | 94.606 | 553 445.10 | 0.36 |
| 3.125 % Occidental Petroleum Corp. 2011/2022 .........  | USD | 235 000 | 235 000 |  | % | 96.226 | 226 132.28 | 0.15 |
| 2.70  % Occidental Petroleum Corp. 2012/2023 .........  | USD | 1 600 000 | 1 600 000 |  | % | 91.602 | 1 465 640.00 | 0.95 |
| 2.70  % Occidental Petroleum Corp. 2019/2022 .........  | USD | 570 000 | 570 000 |  | % | 93.602 | 533 534.25 | 0.34 |
| 5.625 % Olin Corp. (MTN) 2019/2029 ..................  | USD | 281 000 |  | 908 000 | % | 92.206 | 259 098.86 | 0.17 |
| 5.00  % PG&E Corp. (MTN) 2020/2028 ................  | USD | 370 000 | 370 000 |  | % | 99.578 | 368 438.60 | 0.24 |
| 6.375 % PulteGroup, Inc. 2003/2033 ..................  | USD | 330 000 |  |  | % | 116.419 | 384 182.70 | 0.25 |
| 5.00  % Range Resources Corp. (MTN) 2017/2022 .......  | USD | 285 000 |  |  | % | 91.249 | 260 059.65 | 0.17 |
| 6.625 % SM Energy Co. (MTN) 2018/2027 ..............  | USD | 360 000 | 360 000 |  | % | 49.563 | 178 426.80 | 0.12 |
| 6.125 % Sonic Automotive, Inc. (MTN) 2017/2027 ........  | USD | 50 000 |  |  | % | 100.79 | 50 395.25 | 0.03 |
| 6.20  % Southwestern Energy Co. (MTN) 2015/2025 *....  | USD | 505 000 | 240 000 |  | % | 87.206 | 440 390.30 | 0.28 |
| 7.75  % Southwestern Energy Co. (MTN) 2017/2027 .....  | USD | 100 000 |  |  | % | 87.928 | 87 928.00 | 0.06 |
| 6.625 % Springleaf Finance Corp. (MTN) 2019/2028 ......  | USD | 40 000 |  |  | % | 99.812 | 39 924.80 | 0.03 |
| 5.375 % Springleaf Finance Corp. (MTN) 2019/2029 ......  | USD | 580 000 |  |  | % | 93.818 | 544 147.30 | 0.35 |
| 8.875 % Springleaf Finance Corp. (MTN) 2020/2025 ......  | USD | 170 000 | 170 000 |  | % | 107.038 | 181 965.45 | 0.12 |
| 6.875 % Sprint Capital Corp. 1998/2028 ................  | USD | 1 325 000 | 545 000 | 1 365 000 | % | 121.412 | 1 608 702.38 | 1.04 |
| 7.125 % Sprint Corp. (MTN) 2014/2024 ................  8.00 % Starfruit Finco BV Via Starfruit US Holdco LLC -144A- (MTN) 2018/2026 .....................     | USD USD | 385 000 350 000 | 350 000 | 45 000 | % % | 112.451 99.724 | 432 936.35 349 034.00 | 0.28 0.23 |
| 5.125 % Tenet Healthcare Corp. (MTN) 2017/2025 .......  | USD | 350 000 | 350 000 | 670 000 | % | 96.672 | 338 350.25 | 0.22 |
| 5.50  % TransDigm, Inc. (MTN) 2020/2027 .............  | USD | 1 160 000 | 1 160 000 |  | % | 88.03 | 1 021 142.20 | 0.66 |
| 5.25  % TRI Pointe Group, Inc. (MTN) 2017/2027 ........  | USD | 50 000 |  |  | % | 100.274 | 50 137.00 | 0.03 |
| 5.70  % TRI Pointe Group, Inc. (MTN) 2020/2028 ........  4.625 % United Rentals North America, Inc. (MTN) 2017/2025 ................................  | USD USD | 290 000 700 000 | 290 000 |  | % % | 102.067 100.63 | 295 994.30 704 406.50 | 0.19 0.45 |
| 4.00  % United Rentals North America, Inc. (MTN) 2020/2030 ................................  | USD | 140 000 | 140 000 |  | % | 96.936 | 135 711.10 | 0.09 |
| 5.25  % United Rentals North America, Inc. 2019/2030 ...  5.50 % Virgin Media Secured Finance PLC -144A- (MTN) 2019/2029 ................................  | USD USD | 320 000 1 250 000 | 500 000 |  | % % | 103.532 104.972 | 331 300.80 1 312 143.75 | 0.21 0.85 |
| 4.05 % Western Midstream Operating LP (MTN) 2020/2030 ................................  | USD | 180 000 | 180 000 |  | % | 95.54 | 171 972.00 | 0.11 |
| 5.25  % WPX Energy, Inc. (MTN) 2014/2024 ............  | USD | 265 000 |  | 700 000 | % | 99.014 | 262 385.78 | 0.17 |
| 5.25  % WPX Energy, Inc. (MTN) 2019/2027 ............  | USD | 285 000 |  | 70 000 | % | 93.752 | 267 193.20 | 0.17 |
| 4.50  % WPX Energy, Inc. (MTN) 2020/2030 ............  | USD | 425 000 | 425 000 |  | % | 88.13 | 374 552.50 | 0.24 |
| 4.875 % Ziggo BV -144A- 2019/2030 ..................  | USD | 595 000 |  |  | % | 100.214 | 596 276.28 | 0.39 |
| Securities admitted to or included in organized markets |  |  |  |  |  |  | 104 678 219.78 | 67.60 |
| Interest-bearing securities 5.00  % 1011778 BC ULC Via New Red Finance, Inc. -144A- (MTN) 2017/2025 .....................     | USD | 500 000 | 500 000 |  | % | 99.49 | 497 447.50 | 0.32 |
| 9.00  % Adient US LLC -144A- (MTN) 2020/2025 ........  | USD | 80 000 | 80 000 |  | % | 107.858 | 86 286.00 | 0.06 |
| 6.25  % AG Issuer LLC -144A- (MTN) 2020/2028 ........  | USD | 280 000 | 280 000 |  | % | 95.033 | 266 092.40 | 0.17 |
| 7.375 % Ahern Rentals, Inc. -144A- (MTN) 2015/2023 .....  5.875 % Albertsons Cos LLC Via Safeway, Inc. Via New Albertsons LP Via Albertson‘s LLC -144A- (MTN) 2019/2028 ..........................  | USD USD | 115 000 195 000 | 115 000 |  | % % | 46.606 102.906 | 53 596.33 200 665.73 | 0.03 0.13 |
| 4.625 % Albertsons Cos, Inc. via Safeway, Inc. Via |  |  |  |  |  |  |  |  |
| New Albertsons LP via Albertsons LLC -144A- (MTN) 2019/2027 ..........................  | USD | 880 000 | 320 000 | % | 100.412 | 883 630.00 | 0.57 |
| 10.50 % Altice France Holding SA -144A- (MTN) 2020/2027 | USD | 400 000 | 400 000 | % | 111 | 444 000.00 | 0.29 |
| 8.125 % Altice France SA/France -144A- (MTN) 2018/2027 . 6.25 % American Axle & Manufacturing, Inc. (MTN) 2018/2025 ................................  | USD USD | 760 000 345 000 | 560 000 | % % | 109.218 97.95 | 830 056.80 337 925.78 | 0.54 0.22 |
| 4.00  % American Builders & Contractors Supply Co., Inc. |  |  |  |  |  |  |  |  |
| -144A- (MTN) 2019/2028 .....................     | USD | 679 000 | % | 96.538 | 655 489.63 | 0.42 |
| 7.75  % AmWINS Group, Inc. -144A- (MTN) 2018/2026 ...  5.375 % Antero Midstream Partners LP via Antero Midstream Finance Corp. (MTN) 2017/2024......  | USD USD | 230 000 385 000 | % % | 104.686 83.192 | 240 778.95 320 291.13 | 0.15 0.21 |
| 5.75 % Antero Midstream Partners LP Via Antero |  |  |  |  |  |  |  |  |
| Midstream Finance Corp. -144A- (MTN) 2019/2028 | USD | 290 000 | % | 79.983 | 231 950.70 | 0.15 |
| 6.875 % Archrock Partners LP Via Archrock Partners |  |  |  |  |  |  |  |  |
| Finance Corp. -144A- (MTN) 2019/2027 .........  | USD | 110 000 | % | 94.032 | 103 435.75 | 0.07 |
| 6.25  % Archrock Partners LP Via Archrock Partners Finance Corp. -144A- (MTN) 2019/2028 .........  | USD | 560 000 | 780 000 | 340 000 | % | 92.218 | 516 418.00 | 0.33 |
| 6.00  % Arconic Corp. -144A- (MTN) 2020/2025 .........  6.125 % Arconic Rolled Products Corp. -144A- (MTN) 2020/2028 ................................  | USD USD | 70 000 635 000 | 70 000 635 000 |  | % % | 102.998 100.514 | 72 098.25 638 263.90 | 0.05 0.41 |

| Security name | Count/ units/ currency | Quantity/ principal amount | Purchases/ additions in the | Sales/ disposals reporting period |  | Market price | Total market value in USD | % of net assets |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 4.125 % Ardagh Packaging Finance PLC Via Ardagh |  |  |  |  |  |  |  |  |
| Holdings USA, Inc. -144A- (MTN) 2019/2026 .....  | USD | 220 000 | 220 000 | 640 000 | % | 98.264 | 216 179.70 | 0.14 |
| 5.25  % Ardagh Packaging Finance PLC Via Ardagh |  |  |  |  |  |  |  |  |
| Holdings USA, Inc. -144A- (MTN) 2020/2027 .....  | USD | 200 000 | 200 000 | % | 98.487 | 196 974.00 | 0.13 |
| 10.00 % Ascent Resources Utica Holdings LLC Via ARU |  |  |  |  |  |  |  |  |
|  | Finance Corp. -144A- (MTN) 2017/2022 .........  | USD | 270 000 | 270 000 |  | % | 86.158 | 232 626.60 | 0.15 |
| 4.75 | % Axalta Coating Systems LLC Via Axalta Coating |  |  |  |  |  |  |  |  |
|  | Systems Dutch Holding B BV -144A- |  |  |  |  |  |  |  |  |
|  | (MTN) 2020/2027 ..........................  | USD | 280 000 | 280 000 |  | % | 100.798 | 282 235.80 | 0.18 |
| 9.25 | % Bausch Health Americas, Inc. -144A- (MTN) |  |  |  |  |  |  |  |  |
|  | 2018/2026 ................................  | USD | 90 000 |  |  | % | 108.303 | 97 472.70 | 0.06 |
| 8.50 | % Bausch Health Americas, Inc. -144A- (MTN) |  |  |  |  |  |  |  |  |
|  | 2018/2027 ................................  | USD | 610 000 |  |  | % | 106.436 | 649 262.65 | 0.42 |
| 5.75 | % Bausch Health Companies, Inc. -144A- (MTN) |  |  |  |  |  |  |  |  |
|  | 2019/2027 ................................  | USD | 100 000 |  |  | % | 105.792 | 105 792.00 | 0.07 |
| 7.00 | % Bausch Health Companies, Inc. -144A- (MTN) |  |  |  |  |  |  |  |  |
|  | 2019/2028 ................................  | USD | 45 000 |  |  | % | 102.705 | 46 217.25 | 0.03 |
| 5.00 | % Bausch Health Companies, Inc. -144A- (MTN) |  |  |  |  |  |  |  |  |
|  | 2019/2028 ................................  | USD | 360 000 | 360 000 | 360 000 | % | 94.368 | 339 723.00 | 0.22 |
| 7.25 | % Bausch Health Companies, Inc. -144A- (MTN) |  |  |  |  |  |  |  |  |
|  | 2019/2029 ................................  | USD | 20 000 |  |  | % | 104.783 | 20 956.60 | 0.01 |
| 5.25 | % Bausch Health Companies, Inc. -144A- 2019/2030. | USD | 860 000 | 860 000 | 280 000 | % | 94.488 | 812 592.50 | 0.52 |
| 6.25 | % Bausch Health Cos, Inc. -144A- (MTN) 2020/2029 . | USD | 535 000 | 535 000 |  | % | 100.298 | 536 594.30 | 0.35 |
| 5.625 | % Berry Global, Inc. -144A- (MTN) 2019/2027 ......  | USD | 25 000 |  |  | % | 103.647 | 25 911.75 | 0.02 |
| 5.75 | % Bombardier, Inc. -144A- (MTN) 2012/2022 .......  | USD | 424 000 |  | 60 000 | % | 74.036 | 313 914.76 | 0.20 |
| 6.00 | % Bombardier, Inc. -144A- (MTN) 2014/2022 .......  | USD | 630 000 |  | 570 000 | % | 70.625 | 444 937.50 | 0.29 |
| 7.125 | % Boxer Parent Co., Inc. -144A- (MTN) 2020/2025 ..  | USD | 200 000 | 200 000 |  | % | 105.023 | 210 046.00 | 0.14 |
| 6.00 | % Boyd Gaming Corp. (MTN) 2018/2026 ..........  | USD | 272 000 |  | 260 000 | % | 94.079 | 255 894.88 | 0.16 |
| 4.75 | % Boyd Gaming Corp. -144A- (MTN) 2019/2027 ....  | USD | 250 000 |  |  | % | 86.53 | 216 325.00 | 0.14 |
| 4.125 | % Buckeye Partners LP -144A- (MTN) 2020/2025 ...  | USD | 140 000 | 140 000 |  | % | 95.264 | 133 370.30 | 0.09 |
| 4.50 | % Buckeye Partners LP -144A- (MTN) 2020/2028 ...  | USD | 230 000 | 230 000 |  | % | 93.522 | 215 100.60 | 0.14 |
| 7.25 | % BWAY Holding Co. -144A- (MTN) 2017/2025 .....  | USD | 690 000 |  |  | % | 90.037 | 621 255.30 | 0.40 |
| 6.875 | % C&W Senior Financing DAC -144A- (MTN) |  |  |  |  |  |  |  |  |
|  | 2017/2027 ................................  | USD | 200 000 |  |  | % | 99.086 | 198 171.00 | 0.13 |
| 5.25 | % Calpine Corp. -144A- (MTN) 2016/2026 .........  | USD | 830 000 |  |  | % | 101.229 | 840 200.70 | 0.54 |
| 4.50 | % Calpine Corp. -144A- (MTN) 2019/2028 .........  | USD | 575 000 |  |  | % | 98.256 | 564 972.00 | 0.36 |
| 4.50 | % Camelot Finance SA -144A- (MTN) 2019/2026 ....  | USD | 230 000 |  |  | % | 100.337 | 230 775.10 | 0.15 |
| 4.75 | % Cargo Aircraft Management, Inc. -144A- (MTN) |  |  |  |  |  |  |  |  |
|  | 2020/2028 ................................  | USD | 340 000 | 340 000 |  | % | 99.168 | 337 171.20 | 0.22 |
| 11.50 | % Carnival Corp. -144A- 2020/2023...............  | USD | 435 000 | 815 000 | 380 000 | % | 106.482 | 463 196.70 | 0.30 |
| 5.125 | % Cascades, Inc. Via Cascades USA, Inc. -144A- |  |  |  |  |  |  |  |  |
|  | (MTN) 2019/2026 ..........................  | USD | 150 000 |  |  | % | 102.216 | 153 324.00 | 0.10 |
| 5.375 | % Cascades, Inc. Via Cascades USA, Inc. -144A- |  |  |  |  |  |  |  |  |
|  | (MTN) 2019/2028 ..........................  | USD | 175 000 |  |  | % | 102.079 | 178 638.25 | 0.11 |
| 5.00 | % Catalent Pharma Solutions, Inc. -144A- (MTN) |  |  |  |  |  |  |  |  |
|  | 2019/2027 ................................  | USD | 425 000 |  |  | % | 104.224 | 442 954.13 | 0.29 |
| 5.50 | % CCO Holdings LLC Via CCO Holdings Capital Corp. |  |  |  |  |  |  |  |  |
|  | -144A- (MTN) 2016/2026 .....................     | USD | 1 830 000 |  | 570 000 | % | 103.743 | 1 898 496.90 | 1.23 |
| 4.50 | % CCO Holdings LLC Via CCO Holdings Capital Corp. |  |  |  |  |  |  |  |  |
|  | -144A- (MTN) 2020/2030 .....................     | USD | 1 490 000 | 1 490 000 |  | % | 101.621 | 1 514 152.90 | 0.98 |
| 4.125 | % CDW LLC Via CDW Finance Corp. (MTN) |  |  |  |  |  |  |  |  |
| 2020/2025 ................................  | USD | 380 000 | 380 000 |  | % | 100.604 | 382 297.10 | 0.25 |
| 4.625 % Centene Corp. (MTN) 2020/2029 ..............  | USD | 695 000 | 695 000 |  | % | 105.75 | 734 962.50 | 0.47 |
| 3.375 % Centene Corp. (MTN) 2020/2030 ..............  | USD | 426 000 | 426 000 |  | % | 100.35 | 427 491.00 | 0.28 |
| 5.375 % Centene Corp. -Reg- (MTN) 2020/2026 .........  | USD | 160 000 | 160 000 |  | % | 103.927 | 166 283.20 | 0.11 |
| 5.75  % Change Healthcare Holdings LLC Via Change |  |  |  |  |  |  |  |  |
| Healthcare Finance, Inc. -144A- (MTN) 2017/2025 . | USD | 90 000 |  | 580 000 | % | 99.014 | 89 112.15 | 0.06 |
| 4.25 | % Charles River Laboratories International, Inc. |  |  |  |  |  |  |  |  |
| -144A- (MTN) 2019/2028 .....................     | USD | 630 000 | % | 100.077 | 630 485.10 | 0.41 |
| 4.50 | % Cheniere Energy Partners LP -144A- (MTN) |  |  |  |  |  |  |  |  |
| 2019/2029 ................................  | USD | 985 000 | 750 000 | % | 97.044 | 955 888.33 | 0.62 |
| 8.125 | % CHS Via Community Health Systems, Inc. -144A- |  |  |  |  |  |  |  |  |
| (MTN) 2018/2024 ..........................  | USD | 310 000 | 360 000 | 50 000 | % | 68.375 | 211 962.50 | 0.14 |
| 7.00  % Cimpress PLC -144A- (MTN) 2018/2026 .........  | USD | 270 000 | 270 000 |  | % | 92.459 | 249 639.30 | 0.16 |
| 5.875 % Clark Equipment Co. -144A- (MTN) 2020/2025....  | USD | 195 000 | 195 000 |  | % | 102.688 | 200 240.63 | 0.13 |
| 5.125 % Clean Harbors, Inc. -144A- (MTN) 2019/2029 .....  | USD | 90 000 |  |  | % | 103.808 | 93 427.20 | 0.06 |
| 5.125 % Clear Channel Worldwide Holdings, Inc. -144A- |  |  |  |  |  |  |  |  |
| (MTN) 2019/2027 ..........................  | USD | 840 000 |  | 860 000 | % | 97.046 | 815 190.60 | 0.53 |
| 9.25  % Clear Channel Worldwide Holdings, Inc. 2020/2024 | USD | 702 000 | 702 000 |  | % | 93.634 | 657 314.19 | 0.42 |
| 4.75  % Clearway Energy Operating LLC -144A- (MTN) |  |  |  |  |  |  |  |  |
| 2019/2028 ................................  | USD | 875 000 | 235 000 |  | % | 102.164 | 893 939.38 | 0.58 |
| 6.75  % Cleveland-Cliffs, Inc. -144A- (MTN) 2020/2026 ....  | USD | 80 000 | 80 000 |  | % | 96.543 | 77 234.40 | 0.05 |
| 6.375 % Colfax Corp. -144A- (MTN) 2019/2026 ..........  | USD | 95 000 |  |  | % | 104.616 | 99 385.20 | 0.06 |
| 5.75  % Colt Merger Sub, Inc. -144A- (MTN) 2020/2025 ...  | USD | 50 000 | 50 000 |  | % | 100.33 | 50 165.25 | 0.03 |
| 6.25  % Colt Merger Sub, Inc. -144A- (MTN) 2020/2025 ...  | USD | 650 000 | 650 000 |  | % | 99.536 | 646 984.00 | 0.42 |
| 8.125 % Colt Merger Sub, Inc. -144A- (MTN) 2020/2027 ...  | USD | 320 000 | 320 000 |  | % | 97.144 | 310 862.40 | 0.20 |
| 5.50  % CommScope, Inc. -144A- (MTN) 2014/2024 ......  | USD | 330 000 | 330 000 |  | % | 101.833 | 336 048.90 | 0.22 |
| 5.50  % CommScope, Inc. -144A- (MTN) 2019/2024 ......  | USD | 505 000 |  |  | % | 101.721 | 513 691.05 | 0.33 |
| 8.25  % CommScope, Inc. -144A- (MTN) 2019/2027 ......  | USD | 550 000 |  |  | % | 102.434 | 563 384.25 | 0.36 |
| 7.125 % CommScope, Inc. -144A- (MTN) 2020/2028 ......  | USD | 230 000 | 450 000 | 220 000 | % | 99.625 | 229 137.50 | 0.15 |
| 5.625 % Constellium SE -144A- (MTN) 2020/2028 ........  | USD | 250 000 | 250 000 |  | % | 98.55 | 246 375.00 | 0.16 |
| 5.625 % Crestwood Midstream Partners LP Via Crestwood |  |  |  |  |  |  |  |  |
| Midstream Finance Corp. -144A- (MTN) 2019/2027 | USD | 150 000 |  |  | % | 82.387 | 123 580.50 | 0.08 |

7.50  % CSC Holdings LLC -144A- (MTN) 2018/2028 .....	USD	400 000	%	109.48	437 920.00	0.28
4.125 % CSC Holdings LLC -144A- (MTN) 2020/2030 .....	USD	507 000	507 000	%	99.204	502 961.75	0.32
5.50  % CSC Holdings LLC -144A- 2016/2027 ...........	USD	700 000	%	104.492	731 447.50	0.47
5.75  % CSC Holdings LLC -144A- 2019/2030 ...........	USD	565 000	%	104.18	588 617.00	0.38
6.75 % Cushman & Wakefield US Borrower LLC -144A-
(MTN) 2020/2028 ..........................	USD	465 000	465 000	%	105.006	488 277.90	0.31
5.75  % Dana Financing Luxembourg Sarl -144A- (MTN)
2017/2025 ................................	USD	895 000	775 000	520 000	%	101.602	909 337.90	0.59
4.625 % DaVita, Inc. -144A- (MTN) 2020/2030 ...........	USD	175 000	355 000	180 000	%	99.059	173 353.25	0.11
5.375 % DCP Midstream Operating LP (MTN) 2018/2025 ..	USD	742 000	625 000	%	99.628	739 243.47	0.48
5.625 % DCP Midstream Operating LP (MTN) 2020/2027 ..	USD	150 000	150 000	%	99.936	149 904.00	0.10
7.00  % Delta Air Lines, Inc. -144A- (MTN) 2020/2025 ....	USD	350 000	610 000	260 000	%	103.264	361 422.25	0.23
5.375 % Diamond Sports Group LLC Via Diamond Sports
Finance Co. -144A- (MTN) 2019/2026 ...........	USD	280 000	649 000	%	73.2	204 958.60	0.13
5.875 % DISH DBS Corp. (MTN) 2015/2024 .............	USD	292 000	740 000	%	99.676	291 052.46	0.19
7.375 % DISH DBS Corp. -144A- (MTN) 2020/2028 .......	USD	155 000	320 000	165 000	%	99.892	154 832.60	0.10
7.75  % DISH DBS Corp., (MTN) 2016/2026 ............	USD	280 000	375 000	%	106.008	296 822.40	0.19
5.50  % Edgewell Personal Care Co. -144A- (MTN) 2020/2028 USD	250 000	250 000	%	102.604	256 511.25	0.17
6.00  % Eldorado Resorts, Inc. (MTN) 2019/2026 ........	USD	425 000	425 000	%	110.528	469 744.00	0.30
5.875 % Element Solutions, Inc. -144A- (MTN) 2017/2025..	USD	300 000	%	100.934	302 802.00	0.20
5.50 % Endeavor Energy Resources LP Via EER
Finance, Inc. -144A- (MTN) 2017/2026 ..........	USD	350 000	%	96.152	336 530.25	0.22
5.75 % Endeavor Energy Resources LP Via EER
Finance, Inc. -144A- 2017/2028................	USD	240 000	%	96.504	231 610.80	0.15
5.875 % Endo Dac Via Endo Finance LLC via Endo
Finco, Inc. -144A- (MTN) 2017/2024 ............	USD	500 000	%	98.235	491 175.00	0.32
4.75  % Energizer Holdings, Inc. -144A- (MTN) 2020/2028 .	USD	170 000	170 000	%	98.572	167 573.25	0.11
4.375 % EnerSys -144A- (MTN) 2019/2027..............	USD	330 000	%	99.516	328 402.80	0.21
6.00 % EQM Midstream Partners LP -144A- (MTN)
2020/2025 ................................	USD	485 000	485 000	%	101.688	493 189.23	0.32
6.50 % EQM Midstream Partners LP -144A- (MTN)
2020/2027 ................................	USD	235 000	500 000	265 000	%	102.381	240 595.35	0.15
5.25 % Fair Isaac Corp. -144A- (MTN) 2018/2026 ........	USD	145 000	%	110.07	159 601.50	0.10
7.25  % First Quantum Minerals Ltd -144A- (MTN)
2017/2023 ................................	USD	237 000	437 000	200 000	%	95.912	227 310.26	0.15
7.50  % First Quantum Minerals Ltd -144A- (MTN)
2017/2025 ................................	USD	793 000	353 000	%	95.861	760 177.73	0.49
6.50  % First Quantum Minerals Ltd -144A- (MTN)
2018/2024 ................................	USD	550 000	%	94.083	517 456.50	0.33
6.875 % First Quantum Minerals Ltd -144A- (MTN)
2018/2026 ................................	USD	200 000	%	94.964	189 927.00	0.12
6.125 % Front Range BidCo, Inc. -144A- (MTN) 2020/2028 .	USD	105 000	105 000	%	97.478	102 351.38	0.07
8.00  % Frontier Communications Corp. -144A- (MTN)
2019/2027 ................................	USD	460 000	400 000	%	101.924	468 852.70	0.30
5.125 % GFL Environmental, Inc. -144A- (MTN) 2019/2026 .	USD	170 000	%	103.402	175 784.25	0.11
4.25  % GFL Environmental, Inc. -144A- (MTN) 2020/2025 .	USD	1 170 000	1 170 000	%	100.536	1 176 265.35	0.76
5.375 % HD Supply, Inc. -144A- (MTN) 2018/2026........	USD	230 000	%	102.174	234 999.05	0.15
5.00  % Hilcorp Energy I LP Via Hilcorp Finance Co.
-144A- (MTN) 2014/2024 .....................	USD	680 000	620 000	%	86.364	587 278.60	0.38
5.125 % Hilton Domestic Operating Co, Inc.
(MTN) 2019/2026 ..........................	USD	500 000	500 000	%	98.992	494 962.50	0.32
5.375 % Hilton Domestic Operating Co., Inc. -144A-
(MTN) 2020/2025 ..........................	USD	90 000	90 000	%	99.903	89 912.70	0.06
7.25  % Hudbay Minerals, Inc. -144A- (MTN) 2016/2023 ...	USD	400 000	%	99.384	397 536.00	0.26
7.625 % HudBay Minerals, Inc. -144A- (MTN) 2016/2025 ..	USD	645 000	770 000	%	94.794	611 421.30	0.39
5.50 % IAA, Inc. -144A- (MTN) 2019/2027 .............	USD	130 000	%	103.582	134 655.95	0.09
9.00  % Illuminate Buyer LLC Via Illuminate Holdings IV,
Inc. -144A- (MTN) 2020/2028 .................	USD	60 000	60 000	%	104.638	62 782.50	0.04
5.017 % Intesa Sanpaolo SpA -144A- (MTN) 2014/2024....	USD	320 000	300 000	%	102.112	326 756.80	0.21
5.71  % Intesa Sanpaolo SpA -144A- (MTN) 2016/2026....	USD	300 000	500 000	%	106.418	319 255.50	0.21
7.00  % IRB Holding Corp. -144A- (MTN) 2020/2025 ......	USD	160 000	160 000	%	102.896	164 633.60	0.11
5.375 % Iron Mountain US Holdings, Inc. -144A- (MTN)
2016/2026 ................................	USD	900 000	%	101.006	909 058.50	0.59
4.875 % Iron Mountain, Inc. -144A- (MTN) 2019/2029 .....	USD	215 000	215 000	%	97.723	210 104.45	0.14
5.00 % Iron Mountain, Inc. -144A- (MTN) 2020/2028 .....	USD	225 000	225 000	%	98.759	222 207.75	0.14
5.25 % Iron Mountain, Inc. -144A- (MTN) 2020/2030 .....	USD	540 000	540 000	%	98.752	533 260.80	0.34
5.625 % Iron Mountain, Inc. -144A- 2020/2032 ..........	USD	210 000	210 000	%	100.262	210 549.15	0.14
5.00 % Itron, Inc. -144A- (MTN) 2017/2026 ............	USD	140 000	%	99.82	139 748.00	0.09
4.625 % Jaguar Holding Co. II Via PPD Development LP
-144A- (MTN) 2020/2025 .....................	USD	180 000	180 000	%	101.778	183 199.50	0.12
5.00 % Jaguar Holding Co. II Via PPD Development LP
-144A- (MTN) 2020/2028 .....................	USD	155 000	155 000	%	102.642	159 095.88	0.10
6.75  % JBS USA LUX SA Via JBS USA Finance,
Inc. -144A- (MTN) 2018/2028 .................	USD	918 000	%	106.082	973 837.35	0.63
6.50 % JBS USA LUX SA Via JBS USA Food Co. Via
JBS USA Finance, Inc. -144A- (MTN) 2019/2029 ..	USD	550 000	%	106.098	583 541.75	0.38
5.50 % JBS USA LUX SA Via JBS USA Food Co. Via
JBS USA Finance, Inc. -144A- 2019/2030........	USD	635 000	%	102.705	652 176.75	0.42
6.25  % JELD-WEN, Inc. -144A- (MTN) 2020/2025 .......	USD	80 000	80 000	%	104.584	83 667.60	0.05
4.625 % Kaiser Aluminum Corp. -144A- (MTN) 2019/2028 ..	USD	170 000	%	96.726	164 433.35	0.11
4.625 % Korn Ferry -144A- (MTN) 2019/2027 ............	USD	110 000	%	97.1	106 810.55	0.07
4.25  % Kraft Heinz Foods Co. -144A- 2020/2031 ........	USD	780 000	780 000	%	106.072	827 357.70	0.53
4.625 % Kraft Heinz Foods Co. 2018/2029 ..............	USD	210 000	210 000	%	107.868	226 523.85	0.15
| Security name | Count/ units/ currency | Quantity/ principal amount | Purchases/ additions in the | Sales/ disposals reporting period | Market price | Total market value in USD | % of net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 6.875 % L Brands, Inc. -144A- (MTN) 2020/2025 .........  | USD | 360 000 | 360 000 | % | 103.561 | 372 819.60 | 0.24 |
| 9.375 % L Brands, Inc. -144A- (MTN) 2020/2025 .........  | USD | 210 000 | 210 000 | % | 101.106 | 212 323.65 | 0.14 |
| 6.75  % LABL Escrow Issuer LLC -144A- (MTN) 2019/2026 | USD | 290 000 |  | % | 104.414 | 302 800.60 | 0.20 |
| 4.875 % Lamar Media Corp. -144A- (MTN) 2020/2029 .....  | USD | 270 000 | 270 000 | % | 101.252 | 273 379.05 | 0.18 |
| 4.875 % Lamb Weston Holdings, Inc. -144A- (MTN) |  |  |  |  |  |  |  |
| 2020/2028 ................................  | USD | 80 000 | 80 000 | % | 105.462 | 84 369.20 | 0.05 |
| 6.75  % LCPR Senior Secured Financing DAC -144A- |  |  |  |  |  |  |  |  |
| (MTN) 2019/2027 ..........................  | USD | 775 000 |  |  | % | 102.282 | 792 681.63 | 0.51 |
| 5.00  % Lennar Corp (MTN) 2018/2027 ................  | USD | 200 000 |  | 800 000 | % | 108.248 | 216 496.00 | 0.14 |
| 6.75  % LifePoint Health, Inc. -144A- (MTN) 2020/2025 ...  | USD | 420 000 | 420 000 |  | % | 102.886 | 432 123.30 | 0.28 |
| 6.375 % Lions Gate Capital Holdings LLC -144A- (MTN) |  |  |  |  |  |  |  |  |
| 2019/2024 ................................  | USD | 100 000 |  |  | % | 97.912 | 97 911.50 | 0.06 |
| 4.625 % Lithia Motors, Inc. -144A- (MTN) 2019/2027......  | USD | 510 000 |  |  | % | 99.116 | 505 491.60 | 0.33 |
| 4.625 % LPL Holdings, Inc. -144A- (MTN) 2019/2027......  | USD | 110 000 |  |  | % | 99.295 | 109 224.50 | 0.07 |
| 4.95  % M/I Homes, Inc. (MTN) 2020/2028 .............  | USD | 440 000 | 440 000 |  | % | 99.32 | 437 005.80 | 0.28 |
| 6.125 % Marriott Ownership Resorts, Inc. -144A- (MTN) |  |  |  |  |  |  |  |  |
| 2020/2025 ................................  | USD | 420 000 | 420 000 |  | % | 102.372 | 429 964.50 | 0.28 |
| 5.375 % Masonite International Corp. -144A- (MTN) |  |  |  |  |  |  |  |  |
| 2019/2028 ................................  | USD | 251 000 |  |  | % | 102.494 | 257 259.94 | 0.17 |
| 5.875 % Matador Resources Co. (MTN) 2018/2026 .......  | USD | 380 000 |  |  | % | 75.607 | 287 306.60 | 0.18 |
| 6.75  % Mattel, Inc. -144A- (MTN) 2017/2025 ...........  | USD | 435 000 |  | 650 000 | % | 103.875 | 451 856.25 | 0.29 |
| 6.50  % MEG Energy Corp. -144A- (MTN) 2017/2025 .....  | USD | 72 000 |  | 14 000 | % | 93.038 | 66 987.36 | 0.04 |
| 7.125 % MEG Energy Corp. -144A- (MTN) 2020/2027 .....  | USD | 315 000 | 315 000 |  | % | 83.376 | 262 634.40 | 0.17 |
| 5.50  % Mercer International, Inc. (MTN) 2018/2026 ......  | USD | 65 000 |  |  | % | 94.127 | 61 182.55 | 0.04 |
| 7.375 % Mercer International, Inc. (MTN) 2019/2025 ......  | USD | 655 000 |  | 600 000 | % | 100.289 | 656 892.95 | 0.42 |
| 6.25  % Meritor, Inc. -144A- (MTN) 2020/2025 ..........  | USD | 140 000 | 140 000 |  | % | 101.502 | 142 103.50 | 0.09 |
| 4.50  % MGM Growth Properties Operating Partnership |  |  |  |  |  |  |  |  |
| LP / MGP Finance Co-Issuer Inc (MTN) 2018/2028 | USD | 500 000 |  |  | % | 97.489 | 487 445.00 | 0.31 |
| 4.625 % MGM Growth Properties Operating Partnership |  |  |  |  |  |  |  |  |
| LP Via MGP Finance Co-Issuer, Inc. -144A- |  |  |  |  |  |  |  |
| (MTN) 2020/2025 ..........................  | USD | 803 000 | 803 000 | % | 99.693 | 800 534.79 | 0.52 |
| 4.25  % Microchip Technology, Inc. -144A- (MTN) |  |  |  |  |  |  |  |  |
| 2020/2025 ................................  | USD | 440 000 | 440 000 | % | 100.501 | 442 204.40 | 0.29 |
| 6.50 % Mileage Plus Holdings LLC Via Mileage Plus |  |  |  |  |  |  |  |  |
| Intellectual Property Assets Ltd -144A- (MTN) |  |  |  |  |  |  |  |  |
| 2020/2027 ................................  | USD | 240 000 | 240 000 |  | % | 100.345 | 240 828.00 | 0.15 |
| 4.375 % Molina Healthcare, Inc. -144A- (MTN) 2020/2028 ..  | USD | 325 000 | 325 000 |  | % | 100.447 | 326 452.75 | 0.21 |
| 4.25  % Moog, Inc. -144A- (MTN) 2019/2027 ...........  | USD | 585 000 |  |  | % | 97.649 | 571 246.65 | 0.37 |
| 6.25  % MPLX LP 2020/2022 ........................  | USD | 9 000 | 9 000 |  | % | 101.498 | 9 134.82 | 0.01 |
| 5.75  % MTS Systems Corp. -144A- (MTN) 2019/2027 ....  | USD | 100 000 |  |  | % | 92.78 | 92 780.50 | 0.06 |
| 5.50  % Navient Corp. (MTN) 2013/2023 ...............  | USD | 705 000 |  |  | % | 96.439 | 679 894.95 | 0.44 |
| 9.50 % Navistar International Corp. -144A- (MTN) |  |  |  |  |  |  |  |  |
| 2020/2025 ................................  | USD | 290 000 | 290 000 |  | % | 107.71 | 312 360.45 | 0.20 |
| 3.625 % NCL Corp., Ltd -144A- (MTN) 2019/2024 ........  | USD | 960 000 |  | 170 000 | % | 61.71 | 592 420.80 | 0.38 |
| 4.875 % Netflix, Inc. 2017/2028 ......................  | USD | 800 000 |  | 300 000 | % | 106.69 | 853 520.00 | 0.55 |
| 4.875 % Newell Brands, Inc. (MTN) 2020/2025 ..........  | USD | 310 000 | 310 000 |  | % | 104.7 | 324 568.45 | 0.21 |
| 4.25  % NextEra Energy Operating Partners LP -144A- |  |  |  |  |  |  |  |  |
| (MTN) 2019/2024 ..........................  | USD | 1 050 000 | 1 050 000 |  | % | 100.78 | 1 058 195.25 | 0.68 |
| 5.875 % Novelis Corp. -144A- (MTN) 2016/2026 .........  | USD | 630 000 |  |  | % | 100 | 630 000.00 | 0.41 |
| 4.75  % Novelis Corp. -144A- (MTN) 2020/2030 .........  | USD | 970 000 | 970 000 |  | % | 95.664 | 927 945.65 | 0.60 |
| 5.25  % NRG Energy, Inc. -144A- (MTN) 2019/2029 ......  | USD | 660 000 | 385 000 |  | % | 105.442 | 695 913.90 | 0.45 |
| 5.55  % Occidental Petroleum Corp. (MTN) 2019/2026 ....  | USD | 320 000 | 320 000 |  | % | 90.764 | 290 446.40 | 0.19 |
| 8.00  % Occidental Petroleum Corp. (MTN) 2020/2025 ....  | USD | 520 000 | 520 000 |  | % | 100.192 | 520 998.40 | 0.34 |
| 8.875 % Occidental Petroleum Corp. (MTN) 2020/2030 ....  | USD | 230 000 | 230 000 |  | % | 100.142 | 230 326.60 | 0.15 |
| 4.125 % Open Text Holdings, Inc. -144A- (MTN) 2020/2030 | USD | 155 000 | 155 000 |  | % | 98.324 | 152 402.98 | 0.10 |
| 5.00  % Outfront Media Capital LLC Via Outfront Media |  |  |  |  |  |  |  |  |
| Capital Corp. -144A- (MTN) 2019/2027 ..........  | USD | 530 000 |  |  | % | 90.613 | 480 248.90 | 0.31 |
| 7.50  % Park Intermediate Holdings LLC Via PK Domestic |  |  |  |  |  |  |  |  |
| Property LLC Via PK Finance Co-Issuer -144A- |  |  |  |  |  |  |  |
| (MTN) 2020/2025 ..........................  | USD | 385 000 | 385 000 | % | 102.641 | 395 168.81 | 0.25 |
| 5.25  % Parsley Energy LLC Via Parsley Finance Corp. |  |  |  |  |  |  |  |  |
| -144A- (MTN) 2017/2025 .....................     | USD | 20 000 | 310 000 | % | 95.708 | 19 141.70 | 0.01 |
| 4.125 % Parsley Energy LLC Via Parsley Finance Corp. |  |  |  |  |  |  |  |  |
| -144A- (MTN) 2020/2028 .....................     | USD | 150 000 | 150 000 | % | 90.577 | 135 865.50 | 0.09 |
| 9.25  % PBF Holding Co. LLC Via PBF Finance Corp. |  |  |  |  |  |  |  |  |
| -144A- (MTN) 2020/2025 .....................     | USD | 105 000 | 105 000 | % | 106.828 | 112 169.93 | 0.07 |
| 6.00  % PBF Holding Co., LLC Via PBF Finance Corp. |  |  |  |  |  |  |  |  |
| -144A- (MTN) 2020/2028 ....................  | USD | 225 000 | 225 000 |  | % | 82.866 | 186 447.38 | 0.12 |
| 7.125 % PetSmart, Inc. -144A- (MTN) 2015/2023 .........  | USD | 305 000 | 320 000 | 795 000 | % | 98.612 | 300 768.13 | 0.19 |
| 8.875 % PetSmart, Inc. -144A- (MTN) 2017/2025 .........  | USD | 300 000 |  |  | % | 100.224 | 300 670.50 | 0.19 |
| 6.125 % Picasso Finance Sub, Inc. -144A- (MTN) 2020/2025. | USD | 410 000 | 410 000 |  | % | 102.089 | 418 564.90 | 0.27 |
| 5.875 % Pilgrim‘s Pride Corp. -144A- (MTN) 2017/2027 ....  | USD | 575 000 | 575 000 |  | % | 99.804 | 573 873.00 | 0.37 |
| 5.00  % Post Holdings, Inc. -144A- (MTN) 2016/2026 .....  | USD | 465 000 | 465 000 |  | % | 100.408 | 466 897.20 | 0.30 |
| 5.50  % Post Holdings, Inc. -144A- (MTN) 2019/2029 .....  | USD | 345 000 |  |  | % | 103.61 | 357 454.50 | 0.23 |
| 4.875 % Presidio Holdings, Inc. -144A- (MTN) 2020/2027 ..  | USD | 70 000 | 70 000 |  | % | 97.908 | 68 535.60 | 0.04 |
| 8.25  % Presidio Holdings, Inc. -144A- (MTN) 2020/2028 ..  | USD | 110 000 | 110 000 |  | % | 100.068 | 110 074.80 | 0.07 |
| 5.125 % Prestige Brands, Inc. -144A- (MTN) 2019/2028 ...  | USD | 260 000 |  |  | % | 100.712 | 261 852.50 | 0.17 |
| 6.25 % Prime Security Services Borrower LLC Via Prime |  |  |  |  |  |  |  |  |
| Finance, Inc. -144A- (MTN) 2020/2028 ..........  | USD | 475 000 | 475 000 |  | % | 94.713 | 449 886.75 | 0.29 |
| 7.625 % Realogy Group LLC Via Realogy Co-Issuer Corp. |  |  |  |  |  |  |  |  |
| -144A- (MTN) 2020/2025 .....................     | USD | 645 000 | 645 000 | % | 100.185 | 646 193.25 | 0.42 |
| 9.75  % RegionalCare Hospital Partners Holdings, Inc. |  |  |  |  |  |  |  |
| Via LifePoint Health, Inc. -144A- (MTN) 2018/2026 | USD | 175 000 | 175 000 | % | 103.286 | 180 750.50 | 0.12 |

| Security name | Count/ units/ currency | Quantity/ principal amount | Purchases/ additions in the | Sales/ disposals reporting period |  | Market price | Total market value in USD | % of net assets |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 5.125 % Reynolds Group Issuer, Inc. Via Reynolds Group |  |  |  |  |  |  |  |  |
| Issuer LLC Via Reynolds Group Issuer Lu -144A- |  |  |  |  |  |  |  |  |
| (MTN) 2016/2023 ..........................  | USD | 1 150 000 | 1 150 000 |  | % | 100.223 | 1 152 564.50 | 0.74 |
| 7.00  % Reynolds Group Issuer, Inc. Via Reynolds Group |  |  |  |  |  |  |  |  |
| Issuer LLC Via Reynolds Group Issuer Lu -144A- |  |  |  |  |  |  |
| (MTN) 2016/2024 ..........................  | USD | 165 000 | % | 100.532 | 165 878.63 | 0.11 |
| 11.50 % Royal Caribbean Cruises Ltd -144A- (MTN) |  |  |  |  |  |  |  |  |
| 2020/2025 ................................  | USD | 145 000 | 335 000 | 190 000 | % | 103.31 | 149 800.23 | 0.10 |
| 10.875 % Royal Caribbean Cruises Ltd -144A- 2020/2023 ...  | USD | 150 000 | 340 000 | 190 000 | % | 101.626 | 152 438.25 | 0.10 |
| 4.25  % Royal Caribbean Cruises Ltd 2020/2023 .........  | USD | 209 000 | 209 000 |  | % | 89.452 | 186 953.64 | 0.12 |
| 4.75  % Ryman Hospitality Properties, Inc. -144A- (MTN) |  |  |  |  |  |  |  |  |
| 2019/2027 ................................  | USD | 15 000 |  |  | % | 89.092 | 13 363.80 | 0.01 |
| 5.75  % Sable International Finance Ltd -144A- (MTN) |  |  |  |  |  |  |  |  |
| 2019/2027 ................................  | USD | 535 000 | 335 000 | % | 102.532 | 548 543.53 | 0.35 |
| 9.25  % Sabre GLBL, Inc. -144A- (MTN) 2020/2025.......  | USD | 20 000 | 20 000 | % | 105.376 | 21 075.10 | 0.01 |
| 4.875 % Science Applications International Corp. -144A- |  |  |  |  |  |  |  |
| (MTN) 2020/2028 ..........................  | USD | 100 000 | 100 000 | % | 99.564 | 99 563.50 | 0.06 |
| 8.625 % Scientific Games International, Inc. -144A- (MTN) |  |  |  |  |  |  |  |  |
| 2020/2025 ................................  | USD | 310 000 | 310 000 |  | % | 94.51 | 292 982.55 | 0.19 |
| 6.25  % Select Medical Corp. -144A- (MTN) 2019/2026 ...  | USD | 970 000 |  |  | % | 100.866 | 978 405.05 | 0.63 |
| 7.50  % Service Properties Trust (MTN) 2020/2025.......  | USD | 575 000 | 575 000 |  | % | 104.949 | 603 456.75 | 0.39 |
| 8.25 % Shelf Drilling Holdings Ltd -144A- (MTN) 2018/2025 . | USD | 225 000 | 280 000 | 315 000 | % | 50.312 | 113 200.88 | 0.07 |
| 5.00  % Spectrum Brands, Inc. -144A- (MTN) 2019/2029 ..  | USD | 100 000 |  |  | % | 98.878 | 98 878.00 | 0.06 |
| 7.50  % Spirit AeroSystems, Inc. -144A- (MTN) 2020/2025 . | USD | 154 000 | 464 000 | 310 000 | % | 99.3 | 152 922.77 | 0.10 |
| 7.625 % Sprint Corp. (MTN) 2018/2026 ................  | USD | 686 000 | 575 000 | 134 000 | % | 118.25 | 811 191.57 | 0.52 |
| 5.50  % SS&C Technologies, Inc. -144A- (MTN) 2019/2027 | USD | 85 000 |  |  | % | 102.29 | 86 946.08 | 0.06 |
| 5.00 % Standard Industries, Inc./NJ -144A- (MTN) |  |  |  |  |  |  |  |  |
| 2017/2027 ................................  | USD | 255 000 | 255 000 |  | % | 102.206 | 260 625.30 | 0.17 |
| 7.50  % Staples, Inc. -144A- (MTN) 2019/2026 ..........  | USD | 780 000 |  |  | % | 79.248 | 618 134.40 | 0.40 |
| 10.75 % Staples, Inc. -144A- (MTN) 2019/2027 ..........  | USD | 270 000 |  | 260 000 | % | 59.038 | 159 401.25 | 0.10 |
| 7.00  % Stars Group Holdings BV Via Stars Group US |  |  |  |  |  |  |  |  |
| Co-Borrower LLC -144A- (MTN) 2018/2026 ......  | USD | 480 000 |  |  | % | 105.46 | 506 210.40 | 0.33 |
| 5.50  % Sunoco LP Via Sunoco Finance Corp. (MTN) |  |  |  |  |  |  |  |  |
| 2018/2026 ................................  | USD | 60 000 | 60 000 | % | 97.282 | 58 369.50 | 0.04 |
| 5.875 % Sunoco LP Via Sunoco Finance Corp. (MTN) |  |  |  |  |  |  |  |  |
| 2018/2028 ................................  | USD | 170 000 | 500 000 | % | 99.804 | 169 666.80 | 0.11 |
| 6.00  % Sunoco LP Via Sunoco Finance Corp. (MTN) |  |  |  |  |  |  |  |  |
| 2019/2027 ................................  | USD | 50 000 |  |  | % | 100.316 | 50 158.00 | 0.03 |
| 7.25  % Talen Energy Supply LLC -144A- (MTN) 2019/2027 | USD | 695 000 |  |  | % | 100.661 | 699 593.95 | 0.45 |
| 7.625 % Talen Energy Supply LLC -144A- (MTN) 2020/2028 | USD | 260 000 | 260 000 |  | % | 100.751 | 261 952.60 | 0.17 |
| 5.00  % Targa Resources Partners LP / Targa Resources |  |  |  |  |  |  |  |  |
| Partners Finance Corp. 2017/2028 .............  | USD | 1 000 000 |  | 970 000 | % | 94.152 | 941 520.00 | 0.61 |
| 5.50 % Targa Resources Partners LP Via Targa Resources |  |  |  |  |  |  |  |  |
| Partners Finance Corp. -144A- 2019/2030 .......  | USD | 375 000 |  |  | % | 96.354 | 361 327.50 | 0.23 |
| 5.75  % Taylor Morrison Communities, Inc. -144A- (MTN) |  |  |  |  |  |  |  |  |
| 2019/2028 ................................  | USD | 555 000 |  |  | % | 103.871 | 576 484.05 | 0.37 |
| 6.375 % Telecom Italia Capital SA 2004/2033 ...........  | USD | 1 600 000 |  |  | % | 113.082 | 1 809 304.00 | 1.17 |
| 5.50  % Telenet Finance Luxembourg Notes Sarl -144A- |  |  |  |  |  |  |  |  |
| 2017/2028 ................................  | USD | 600 000 |  | 200 000 | % | 104.608 | 627 645.00 | 0.40 |
| 5.125 % Tenet Healthcare Corp. -144A- (MTN) 2019/2027..  | USD | 730 000 |  |  | % | 98.814 | 721 345.85 | 0.47 |
| 7.50  % Tenet Healthcare Corp. -144A- (MTN) 2020/2025..  | USD | 570 000 | 570 000 |  | % | 106.134 | 604 960.95 | 0.39 |
| 4.625 % Tenet Healthcare Corp. -144A- (MTN) 2020/2028..  | USD | 205 000 | 205 000 |  | % | 97.288 | 199 440.40 | 0.13 |
| 5.625 % Tennant Co. (MTN) 2018/2025 ................  | USD | 10 000 |  |  | % | 101.18 | 10 118.05 | 0.01 |
| 4.75  % TerraForm Power Operating LLC -144A- 2019/2030 | USD | 215 000 |  | 1 915 000 | % | 102.066 | 219 440.83 | 0.14 |
| 5.30 % Tesla, Inc. -144A- (MTN) 2017/2025 ............  | USD | 910 000 | 480 000 |  | % | 99.623 | 906 569.30 | 0.58 |
| 6.00  % Teva Pharmaceutical Finance Netherlands III BV |  |  |  |  |  |  |  |  |
| (MTN) 2018/2024 ..........................  | USD | 1 100 000 | 1 100 000 |  | % | 102.62 | 1 128 825.50 | 0.73 |
| 7.125 % Teva Pharmaceutical Finance Netherlands III BV |  |  |  |  |  |  |  |  |
| -144A- (MTN) 2019/2025 .....................     | USD | 245 000 | 245 000 | 200 000 | % | 106.444 | 260 787.80 | 0.17 |
| 6.375 % T-Mobile USA, Inc. 2014/2025 ................  | USD | 340 000 | 340 000 |  | % | 102.89 | 349 827.70 | 0.23 |
| 6.25 % TransDigm, Inc. -144A- (MTN) 2019/2026 .......  | USD | 875 000 | 20 000 | 320 000 | % | 99.712 | 872 475.63 | 0.56 |
| 6.875 % Transocean Poseidon Ltd -144A- (MTN) 2019/2027 | USD | 290 000 | 240 000 |  | % | 88.63 | 257 025.55 | 0.17 |
| 5.375 % Transocean Sentry Ltd -144A- 2019/2023........  | USD | 50 000 |  |  | % | 85.319 | 42 659.50 | 0.03 |
| 6.25 % Triumph Group, Inc. -144A- (MTN) 2019/2024 ....  | USD | 218 000 |  |  | % | 85.124 | 185 571.41 | 0.12 |
| 5.75  % Tronox Finance PLC -144A- (MTN) 2017/2025 ....  | USD | 935 000 |  | 500 000 | % | 92.546 | 865 305.10 | 0.56 |
| 6.50 % Tronox, Inc. -144A- (MTN) 2018/2026 ...........  | USD | 808 000 | 100 000 |  | % | 93.68 | 756 938.44 | 0.49 |
| 7.50  % Uber Technologies, Inc. -144A- (MTN) 2019/2027 . | USD | 170 000 | 170 000 |  | % | 99.906 | 169 839.35 | 0.11 |
| 7.50  % Uber Technologies, Inc. -144A- (MTN) 2020/2025 . | USD | 420 000 | 840 000 | 420 000 | % | 100.648 | 422 721.60 | 0.27 |
| 12.00 % United States Steel Corp. -144A- (MTN) 2020/2025. | USD | 120 000 | 120 000 |  | % | 102.614 | 123 136.80 | 0.08 |
| 7.875 % Uniti Group LP Via Uniti Fiber Holdings, Inc. Via |  |  |  |  |  |  |  |  |
| CSL Capital LLC -144A- (MTN) 2020/2025 .......  | USD | 165 000 | 315 000 | 150 000 | % | 101.742 | 167 873.48 | 0.11 |
| 6.00  % Uniti Group LP Via Uniti Group Finance, Inc. Via |  |  |  |  |  |  |  |  |
| CSL Capital LLC -144A- (MTN) 2015/2023 .......  | USD | 435 000 | 435 000 | % | 98.278 | 427 511.48 | 0.28 |
| 5.125 % Univar Solutions USA, Inc. -144A- (MTN) |  |  |  |  |  |  |  |  |
| 2019/2027 ................................  | USD | 530 000 | 250 000 | % | 101.127 | 535 973.10 | 0.35 |
| 6.875 % USA Compression Partners LP Via USA |  |  |  |  |  |  |  |  |
| Compression Finance Corp. (MTN) 2019/2026 ....  | USD | 535 000 |  | % | 98.346 | 526 151.10 | 0.34 |
| 6.25  % Vail Resorts, Inc. -144A- (MTN) 2020/2025.......  | USD | 295 000 | 295 000 | % | 104.744 | 308 994.80 | 0.20 |
| 5.625 % ViaSat, Inc. -144A- (MTN) 2017/2025 ...........  | USD | 450 000 | 400 000 | % | 97.328 | 437 973.75 | 0.28 |
| 5.625 % ViaSat, Inc. -144A- (MTN) 2019/2027 ...........  | USD | 120 000 |  | % | 102.634 | 123 160.80 | 0.08 |
| 6.50 % ViaSat, Inc. -144A- (MTN) 2020/2028 ...........  | USD | 315 000 | 315 000 | % | 100.341 | 316 074.15 | 0.20 |
| 4.625 % VICI Properties LP Via VICI Note Co., Inc. -144A- |  |  |  |  |  |  |  |
| (MTN) 2019/2029 ..........................  | USD | 64 000 |  | % | 98.184 | 62 837.76 | 0.04 |

| Security name | Count/ units/ currency | Quantity/ principal amount | Purchases/ additions in the | Sales/ disposals reporting period |  | Market price | Total market value in USD | % of net assets |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 3.75 % VICI Properties LP Via VICI Note Co., Inc. -144A- (MTN) 2020/2027 ..........................  | USD | 100 000 | 100 000 |  | % | 93.981 | 93 981.00 | 0.06 |
| 4.125 % VICI Properties LP Via VICI Note Co., Inc. -144A- (MTN) 2020/2030 ..........................  | USD | 70 000 | 70 000 |  | % | 95.259 | 66 681.30 | 0.04 |
| 5.125 % Videotron Ltd -144A- (MTN) 2017/2027 .........  | USD | 800 000 | 800 000 |  | % | 104.322 | 834 576.00 | 0.54 |
| 5.875 % Viking Cruises Ltd -144A- (MTN) 2017/2027......  | USD | 400 000 |  |  | % | 59.863 | 239 452.00 | 0.15 |
| 5.00  % Virgin Media Finance PLC -144A- (MTN) 2020/2030 5.50 % Virgin Media Secured Finance PLC -144A- (MTN) 2016/2026 ................................  | USD USD | 337 000 405 000 | 337 000 | 1 030 000 | % % | 97.193 102.706 | 327 540.41 415 957.28 | 0.21 0.27 |
| 4.30 % Vistra Operations Co. LLC -144A- (MTN) 2019/2029 . | USD | 25 000 | 25 000 |  | % | 105.424 | 26 356.13 | 0.02 |
| 5.50 % Vistra Operations Co., LLC -144A- (MTN) 2018/2026 . | USD | 440 000 | 900 000 | 990 000 | % | 102.519 | 451 083.60 | 0.29 |
| 5.625 % Vistra Operations Co., LLC -144A- (MTN) 2019/2027 . | USD | 175 000 |  | 300 000 | % | 102.67 | 179 671.63 | 0.12 |
| 5.00  % VOC Escrow Ltd -144A- (MTN) 2018/2028 .......  | USD | 340 000 |  | 300 000 | % | 75.984 | 258 345.60 | 0.17 |
| 7.00  % Vodafone Group PLC 2019/2079 * .............  | USD | 685 000 | 685 000 |  | % | 116.39 | 797 268.08 | 0.51 |
| 6.125 % VRX Escrow Corp. -144A- (MTN) 2015/2025 .....  | USD | 700 000 |  |  | % | 100.41 | 702 873.50 | 0.45 |
| 5.125 % VTR Comunicaciones SpA -144A- (MTN) 2020/2028 . | USD | 237 000 | 237 000 |  | % | 102.128 | 242 042.18 | 0.16 |
| 6.375 % VTR Finance NV -144A- (MTN) 2020/2028 .......  | USD | 222 000 | 222 000 |  | % | 103.08 | 228 837.60 | 0.15 |
| 7.125 % WESCO Distribution, Inc. -144A- (MTN) 2020/2025 | USD | 130 000 | 130 000 |  | % | 105.344 | 136 947.20 | 0.09 |
| 7.25  % WESCO Distribution, Inc. -144A- (MTN) 2020/2028 | USD | 360 000 | 360 000 |  | % | 106.116 | 382 019.40 | 0.25 |
| 5.50  % William Carter Co./The -144A- (MTN) 2020/2025 ..  6.375 % Wolverine World Wide, Inc. -144A- (MTN) 2020/2025 ................................  | USD USD | 170 000 450 000 | 170 000 450 000 |  | % % | 103.464 105.184 | 175 888.80 473 328.00 | 0.11 0.31 |
| 5.50  % Wynn Las Vegas LLC Via Wynn Las Vegas Capital Corp. -144A- (MTN) 2015/2025 ................  | USD | 545 000 |  | 550 000 | % | 92.084 | 501 860.53 | 0.32 |
| 7.75 % Wynn Resorts Finance LLC Via Wynn Resorts Capital Corp. -144A- (MTN) 2020/2025 ..........  | USD | 60 000 | 60 000 |  | % | 101.489 | 60 893.40 | 0.04 |
| 6.25  % XPO Logistics, Inc. -144A- (MTN) 2020/2025 .....  | USD | 250 000 | 250 000 |  | % | 104.852 | 262 130.00 | 0.17 |
| 7.75  % Yum! Brands, Inc. -144A- (MTN) 2020/2025......  | USD | 40 000 | 40 000 |  | % | 108.5 | 43 400.00 | 0.03 |
| 5.50  % Ziggo Secured Finance BV -144A- 2016/2027.....  | USD | 270 000 |  | 30 000 | % | 101.21 | 273 265.65 | 0.18 |
| Unlisted securities |  |  |  |  |  |  | 2 794 442.58 | 1.80 |
| Interest-bearing securities 8.00  % Altice France Holding SA -144A- (MTN) 2020/2027 | EUR | 350 000 | 350 000 |  | % | 105.85 | 415 211.65 | 0.27 |
| 4.375 % Panther BF Aggregator 2 LP Via Panther Finance Co., Inc. -Reg- (MTN) 2019/2026 ..............  | EUR | 1 655 000 |  |  | % | 99.332 | 1 842 450.18 | 1.19 |
| 5.375 % Parsley Energy LLC Via Parsley Finance Corp. |  |  |  |  |  |  |  |  |
| -144A- (MTN) 2016/2025 .....................     | USD | 550 000 | % | 97.596 | 536 780.75 | 0.34 |
| Total securities portfolio |  |  |  |  | 151 348 307.19 | 97.74 |
| Derivatives (Minus signs denote short positions) |  |  |  |  |  |  |
| Currency derivatives Receivables/payables |  |  |  |  | -19 237.63 | -0.01 |
| Forward currency transactions |  |  |  |  |  |  |
| Forward currency transactions (long) |  |  |  |  |  |  |
| Open positions CHF/USD 44.4 million ...............................  |  |  |  |  | -33 689.18 | -0.02 |
| GBP/USD 0.01 million ...............................  |  |  |  |  | -217.25 | 0.00 |
| Forward currency transactions (short) |  |  |  |  |  |  |
| Open positions USD/EUR 11.2 million ...............................  |  |  |  |  | 19 307.37 | 0.01 |
| Closed positions USD/EUR 19.6 million ...............................  |  |  |  |  | -4 638.57 | 0.00 |
| Cash at bank |  |  |  |  | 3 944 478.85 | 2.55 |
| Demand deposits at Depositary EUR deposits......................................  | EUR | 8 923 |  |  | 10 000.10 | 0.01 |
| Deposits in other EU/EEA currencies |  |  |  |  |  |  |
| British pound .....................................  | GBP | 6 |  |  | 6.97 | 0.00 |
| Deposits in non-EU/EEA currencies |  |  |  |  |  |  |
| Swiss franc .......................................  | CHF | 9 326 |  |  | 9 816.26 | 0.01 |
| U.S. dollar ........................................  | USD |  |  |  | 3 924 655.52 | 2.53 |
| Other assets |  |  |  |  | 3 598 504.79 | 2.33 |
| Interest receivable .................................  |  |  |  |  | 2 268 773.97 | 1.47 |
| Receivables from exceeding the expense cap ............  |  |  |  |  | 213 001.10 | 0.14 |
| Other receivables ..................................  |  |  |  |  | 1 116 729.72 | 0.72 |
| Total assets ** |  |  |  |  | 158 910 598.20 | 102.63 |

| Security name | Count/ units/ currency | Quantity/ principal amount | Purchases/ additions in the | Sales/ disposals reporting period | Market price | Total market value in USD | % of net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Other liabilities |  |  |  |  |  | -4 028 240.39 | -2.60 |
| Additional other liabilities.............................  |  |  |  |  |  | -4 028 240.39 | -2.60 |
| Total liabilities |  |  |  |  |  | -4 066 785.39 | -2.63 |
| Net assets |  |  |  |  |  | 154 843 812.81 | 100.00 |

Negligible rounding errors may have arisen due to the rounding of calculated percentages.
A list of the transactions completed during the reporting period that no longer appear in the investment portfolio is available free of charge from the Management Company upon request.
| Net asset value per share and number of shares outstanding | Count/ currency | Net asset value per share in the respective currency |
| --- | --- | --- |
| Net asset value per share Class CHF ICH50...................................  | CHF | 95.79 |
| Class CHF XCH ....................................  | CHF | 104.92 |
| Class FCH ........................................  | EUR | 104.25 |
| Class ICH.........................................  | EUR | 95.63 |
| Class TFCH .......................................  | EUR | 99.80 |
| Class XCH ........................................  | EUR | 106.09 |
| Class GBP TFDQH..................................  | GBP | 92.52 |
| Class USD FC .....................................  | USD | 114.80 |
| Class USD IC ......................................  | USD | 98.50 |
| Class USD IC50 ....................................  | USD | 98.60 |
| Class USD LD .....................................  | USD | 100.17 |
| Class USD TFC ....................................  | USD | 106.80 |
| Class USD XC .....................................  | USD | 116.61 |
| Number of shares outstanding Class CHF ICH50...................................  | Count | 110.000 |
| Class CHF XCH ....................................  | Count | 414 176.137 |
| Class FCH ........................................  | Count | 100.000 |
| Class ICH.........................................  | Count | 9 978.000 |
| Class TFCH .......................................  | Count | 304.000 |
| Class XCH ........................................  | Count | 103.000 |
| Class GBP TFDQH..................................  | Count | 85.000 |
| Class USD FC .....................................  | Count | 127 320.000 |
| Class USD IC ......................................  | Count | 228.000 |
| Class USD IC50 ....................................  | Count | 66 731.000 |
| Class USD LD .....................................  | Count | 8 778.231 |
| Class USD TFC ....................................  | Count | 24.000 |
| Class USD XC .....................................  | Count | 736 238.200 |

Composition of the reference portfolio (according to CSSF circular 11/512) ICE BofAML Global High Yield Constrained (HW0C) 100% USD Hedged Index
Market risk exposure (value-at-risk) (according to CSSF circular 11/512)
| Lowest market risk exposure .........................  | % | 79.529 |
| --- | --- | --- |
| Highest market risk exposure .........................  | % | 135.529 |
| Average market risk exposure ........................  | % | 104.239 |

The values-at-risk were calculated for the period from January 1, 2020, through June 30, 2020, using historical simulation with a 99% confidence level, a 10-day holding period and an effective historical observation period of one year. The risk in a reference portfolio that does not contain derivatives is used as the measurement benchmark. Market risk is the risk to the fund’s assets arising from an unfavorable change in market prices. The Company determines the potential market risk by means of the relative value-at-risk approachas defined in CSSF circular 11/512.
In the reporting period, the average leverage effect from the use of derivatives was 0.1, whereby the total of the nominal amounts of the derivatives in relation to the fund’s assets was used for the calculation (sum-of-notional approach).
The gross exposure generated via derivatives pursuant to point 40 a) of the “Guidelines on ETFs and other UCITS issues” of the European Securities and Markets Authority (ESMA) totaled USD 13 845 796.96 as of the reporting date. Does not include any forward currency transactions entered into for currency hedging purposes at the level of the share classes.
 Market abbreviations	 Contracting parties for forward currency transactions
BNP Paribas SA, Bofa Securities Europe, Citigroup Global Markets Limited, Goldman Sachs International, Royal Bank of Canada (UK), State Street Bank London and UBS AG
 Exchange rates (indirect quotes)	
As of June 30, 2020
| Swiss franc	CHF | 0.950050 | = USD | 1 |
| --- | --- | --- | --- |
| Euro	EUR | 0.892260 | = USD | 1 |
| British pound	GBP | 0.813008 | = USD | 1 |

 Notes on valuation	
Under the responsibility of the Board of Directors of the SICAV, the Management Company determines the net asset values per share and performs the valuation of the assets of the fund. The basic provision of price data and price validation are performed in accordance with the method introduced by the Board of Directors of the SICAV on the basis of the legal and regulatory requirements or the principles for valuation methods defined in the SICAV’s prospectus.
If no trading prices are available, prices are determined with the aid of valuation models (derived market values) which are agreed between State Street Bank International GmbH, Luxembourg branch, as external price service provider and the Management Company and which are based as far as possible on market parameters. This procedure is subject to an ongoing monitoring process. The plausibility of price information from third parties is checked through other pricing sources, model calculations or other suitable procedure.
Assets reported in this report are not valued at derived market values.
 Footnotes	
* Floating interest rate.
** Does not include positions with a negative balance, if such exist.

Translation (ENDE, 2020-06-30):
# DWS Invest Global High Yield Corporates
DWS INVEST GLOBAL HIGH YIELD CORPORATES

### Wertentwicklung der Anteilklassen (in USD)
| Anteilklasse | ISIN | 6 Monate |
| --- | --- | --- |
| Klasse USD FC | LU1506496097 | -5,5% |
| Klasse USD IC | LU2019219026 | -5,3% |
| Klasse USD IC50 | LU2019219372 | -5,3% |
| Klasse USD LD | LU1506496170 | -5,7% |
| Klasse USD TFC | LU1663931241 | -5,5% |
| Klasse USD XC | LU1506496253 | -5,2% |
| Klasse CHF ICH50 2) | LU2019218564 | -6,8% |
| Klasse CHF XCH 2) | LU1506495529 | -6,7% |
| Klasse FCH 3) | LU1506495875 | -6,8% |
| Klasse ICH 3) | LU2019218721 | -7,1% |
| Klasse TFCH 3) | LU1663931167 | -6,8% |
| Klasse XCH 3) | LU1506496337 | -6,6% |
| Klasse GBP TFDQH 4) | LU2104179317 | -7,5% 1) |

1) 
aufgelegt am 14.2.2020
2) 
in CHF
3) 
in EUR
4) 
in GBP
Wertentwicklung nach BVI-Methode, d. h. ohne Berücksichtigung des Ausgabeaufschlages.
Wertentwicklungen der Vergangenheit ermöglichen keine Prognose für die Zukunft.	Stand: 30.6.2020
DWS Invest Global High Yield Corporates
| Vermögensübersicht zum 30.6.2020 |  |
| --- | --- |
|  | Bestand in USD | %-Anteil am Fondsvermögen |
| I. Vermögensgegenstände |  |  |
| 1. Anleihen (Emittenten) Unternehmen | 151 161 353,55 | 97,62 |
| Institute | 186 953,64 | 0,12 |
| Summe Anleihen | 151 348 307,19 | 97,74 |
| 2. Derivate | -19 237,63 | - 0,01 |
| 3. Bankguthaben | 3 944 478,85 | 2,54 |
| 4. Sonstige Vermögensgegenstände | 3 598 504,79 | 2,33 |
| II. Verbindlichkeiten |  |  |
| 1. Sonstige Verbindlichkeiten | -4 028 240,39 | - 2,60 |
| III. Fondsvermögen | 154 843 812,81 | 100,00 |

Durch Rundung der Prozentanteile bei der Berechnung können geringfügige Rundungsdifferenzen entstanden sein.
| Vermögensaufstellung zum 30.6.2020 |  |
| --- | --- |
|  | Stück bzw. | Nominalbetrag | Käufe/ | Verkäufe/ | Kurs | Kurswert | %-Anteil am |
| Wertpapierbezeichnung | Anteile bzw. | bzw. | Zugänge | Abgänge |  | in | Fonds- |
| Währung	Bestand	im Berichtszeitraum	USD	vermögen |

Börsengehandelte Wertpapiere	43 875 644,83	28,34
Verzinsliche Wertpapiere
3,50  % Adient Global Holdings Ltd -Reg- (MTN)
| 2016/2024 ...............................  | EUR | 180 000 | 180 000 |  | % | 89,236 | 180 019,16 | 0,12 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 5,875 % Altice France SA/France -Reg- (MTN) 2018/2027 . | EUR | 370 000 |  | 300 000 | % | 105,623 | 437 994,64 | 0,28 |
| 3,375 % Altice France SA/France -Reg- (MTN) 2019/2028 . | EUR | 730 000 |  |  | % | 94,868 | 776 163,95 | 0,50 |
| 4,75 % Avantor, Inc. -Reg- (MTN) 2017/2024 ..........  | EUR | 180 000 |  |  | % | 103,32 | 208 431,51 | 0,13 |
| 3,75  % Bankia SA (MTN) 2019/2029 * ................  | EUR | 100 000 |  |  | % | 99,064 | 111 026,49 | 0,07 |
| 4,75  % BWAY Holding Co. (MTN) 2018/2024 ..........  | EUR | 200 000 |  |  | % | 97,806 | 219 233,18 | 0,14 |
| 1,865 % Casino Guichard Perrachon SA (MTN) 2017/2022 . | EUR | 300 000 |  |  | % | 96,644 | 324 939,48 | 0,21 |
| 4,25  % Constellium NV -Reg- (MTN) 2017/2026 ........  | EUR | 975 000 |  |  | % | 98,579 | 1 077 203,11 | 0,70 |
| 4,25  % Evoca SpA -Reg- (MTN) 2019/2026 * ..........  | EUR | 440 000 |  |  | % | 85,808 | 423 142,36 | 0,27 |
| 1,528 % FCE Bank PLC (MTN) 2015/2020 ..............  | EUR | 685 000 | 685 000 |  | % | 99,482 | 763 732,86 | 0,49 |
| 3,021 % Ford Motor Credit Co. LLC (MTN) 2019/2024 ....  | EUR | 210 000 | 210 000 |  | % | 96,109 | 226 199,65 | 0,15 |
| 1,514 % Ford Motor Credit Co. LLC 2019/2023 .........  | EUR | 335 000 | 335 000 |  | % | 94,12 | 353 372,71 | 0,23 |
| 3,00  % Globalworth Real Estate Investments Ltd (MTN) |  |  |  |  |  |  |  |  |
| 2018/2025 ...............................  | EUR | 140 000 |  |  | % | 100,766 | 158 106,83 | 0,10 |
| 2,25 % IQVIA, Inc. -Reg- (MTN) 2019/2028 ............  | EUR | 220 000 |  |  | % | 96,329 | 237 513,51 | 0,15 |
| 3,75 % Kronos International, Inc. -Reg- (MTN) 2017/2025 . | EUR | 255 000 |  |  | % | 98,324 | 280 999,85 | 0,18 |
| 3,625 % LKQ European Holdings BV -Reg- (MTN) 2018/2026 | EUR | 435 000 |  |  | % | 101,998 | 497 264,40 | 0,32 |
| 3,625 % Netflix, Inc. (MTN) 2017/2027 ................  | EUR | 845 000 |  |  | % | 104,452 | 989 200,04 | 0,64 |
| 4,625 % Netflix, Inc. 2018/2029 ......................  | EUR | 200 000 |  |  | % | 111,286 | 249 448,59 | 0,16 |
| 3,625 % Netflix, Inc. 2019/2030 ......................  | EUR | 250 000 |  |  | % | 103,02 | 288 649,05 | 0,19 |
| 3,25  % Nomad Foods Bondco PLC -Reg- (MTN) 2017/2024 | EUR | 180 000 |  |  | % | 101,075 | 203 903,57 | 0,13 |
| 3,25  % Pro-Gest SpA -Reg- (MTN) 2017/2024 ..........  | EUR | 370 000 |  |  | % | 68,638 | 284 628,30 | 0,18 |
| 3,25  % Quintiles IMS, Inc. -Reg- (MTN) 2017/2025 ......  | EUR | 380 000 |  |  | % | 100,949 | 429 926,48 | 0,28 |
| 4,50  % Refinitiv US Holdings, Inc. -Reg- (MTN) 2018/2026 | EUR | 200 000 |  |  | % | 104,498 | 234 233,30 | 0,15 |
| 2,875 % SPCM SA -Reg- (MTN) 2015/2023 .............  | EUR | 135 000 |  |  | % | 99,523 | 150 579,48 | 0,10 |
| 5,875 % Telefonica Europe BV 2014/2049 * ............  | EUR | 800 000 |  |  | % | 108,166 | 969 815,97 | 0,63 |
| 4,50  % Teva Pharmaceutical Finance Netherlands II BV |  |  |  |  |  |  |  |  |
| (MTN) 2018/2025 ..........................  | EUR | 225 000 | 225 000 |  | % | 99,738 | 251 507,97 | 0,16 |
| 6,00  % Teva Pharmaceutical Finance Netherlands II BV |  |  |  |  |  |  |  |  |
| -Reg- (MTN) 2019/2025 .....................  | EUR | 100 000 |  |  | % | 105,914 | 118 703,07 | 0,08 |
| 1,875 % thyssenkrupp AG (MTN) 2019/2023 ...........  | EUR | 730 000 | 730 000 |  | % | 96,408 | 788 763,42 | 0,51 |
| 4,00  % UPCB Finance IV Ltd -Reg- 2015/2027 .........  | EUR | 90 000 |  |  | % | 101,198 | 102 076,36 | 0,07 |
| 5,00  % Altice Financing SA -144A- (MTN) 2020/2028 ....  | USD | 750 000 | 1 010 000 | 260 000 | % | 99,58 | 746 850,00 | 0,48 |
| 7,375 % Altice France SA/France -144A- (MTN) 2016/2026 | USD | 1 208 000 |  |  | % | 104,085 | 1 257 346,80 | 0,81 |
| 6,25  % American Axle & Manufacturing, Inc. (MTN) |  |  |  |  |  |  |  |  |
| 2018/2026 ...............................  | USD | 155 000 |  |  | % | 97,204 | 150 666,20 | 0,10 |
| 5,625 % AmeriGas Partners LP Via AmeriGas Finance Corp. |  |  |  |  |  |  |  |  |
| (MTN) 2016/2024 ..........................  | USD | 500 000 |  |  | % | 104,34 | 521 702,50 | 0,34 |
| 5,50 % AmeriGas Partners LP Via AmeriGas Finance Corp. |  |  |  |  |  |  |  |  |
| (MTN) 2016/2025 ..........................  | USD | 230 000 |  |  | % | 103,86 | 238 876,85 | 0,15 |
| 5,75 % AmeriGas Partners LP Via AmeriGas Finance Corp. |  |  |  |  |  |  |  |  |
| (MTN) 2017/2027 ..........................  | USD | 45 000 |  |  | % | 105,496 | 47 473,43 | 0,03 |
| 6,50  % ARD Finance SA -144A- (MTN) 2019/2027 * .....  | USD | 200 000 | 200 000 |  | % | 99,4 | 198 801,00 | 0,13 |
| 5,875 % Beazer Homes USA, Inc. (MTN) 2018/2027 .....  | USD | 100 000 | 265 000 | 790 000 | % | 95,714 | 95 713,50 | 0,06 |
| 6,375 % Boyd Gaming Corp. (MTN) 2017/2026 ..........  | USD | 300 000 | 300 000 |  | % | 95,323 | 285 969,00 | 0,18 |
| 5,625 % CenturyLink, Inc. (MTN) 2015/2025 ............  | USD | 150 000 |  | 1 910 000 | % | 103,714 | 155 571,00 | 0,10 |
| 5,15  % CF Industries, Inc. 2014/2034 ................  | USD | 60 000 |  | 55 000 | % | 107,631 | 64 578,60 | 0,04 |
| 7,00  % Chemours Co. (MTN) 2016/2025 ..............  | USD | 480 000 | 235 000 | 240 000 | % | 95,364 | 457 747,20 | 0,30 |
| 5,375 % Chemours Co./The (MTN) 2017/2027 ..........  | USD | 105 000 |  | 90 000 | % | 91,245 | 95 807,25 | 0,06 |
| 6,25  % CHS Via Community Health Systems, Inc. (MTN) |  |  |  |  |  |  |  |  |
| 2017/2023 ...............................  | USD | 1 248 000 | 425 000 | 200 000 | % | 94,228 | 1 175 959,20 | 0,76 |
| 5,75 % Crestwood Midstream Partners LP via Crestwood |  |  |  |  |  |  |  |  |
| Midstream Finance Corp. (MTN) 2017/2025 .....  | USD | 120 000 |  |  | % | 91,396 | 109 675,80 | 0,07 |
| 5,375 % Dana, Inc. (MTN) 2019/2027 .................  | USD | 250 000 |  |  | % | 99,848 | 249 620,00 | 0,16 |
| 5,625 % Dana, Inc. (MTN) 2020/2028 .................  | USD | 100 000 | 100 000 |  | % | 99,434 | 99 433,50 | 0,06 |
| 5,125 % DCP Midstream Operating LP (MTN) 2019/2029 . | USD | 230 000 | 230 000 |  | % | 95,997 | 220 793,10 | 0,14 |
| 4,50  % Encompass Health Corp. (MTN) 2019/2028 .....  | USD | 150 000 |  |  | % | 95,103 | 142 654,50 | 0,09 |
| 4,75  % Encompass Health Corp. 2019/2030 ...........  | USD | 399 000 | 275 000 |  | % | 96,134 | 383 572,67 | 0,25 |
| 4,40  % EnLink Midstream Partners LP (MTN) 2014/2024 . | USD | 680 000 |  |  | % | 83,928 | 570 713,80 | 0,37 |
| 6,125 % EQT Corp. (MTN) 2020/2025 .................  | USD | 320 000 | 320 000 |  | % | 99,716 | 319 092,80 | 0,21 |
| 7,00  % EQT Corp. (MTN) 2020/2030 .................  | USD | 400 000 | 500 000 | 100 000 | % | 102,874 | 411 498,00 | 0,27 |
| 9,00  % Ford Motor Co. (MTN) 2020/2025 .............  | USD | 995 000 | 995 000 |  | % | 108,438 | 1 078 963,08 | 0,70 |
| 9,625 % Ford Motor Co. (MTN) 2020/2030 .............  | USD | 110 000 | 110 000 |  | % | 118,856 | 130 741,60 | 0,08 |
| 8,50  % Ford Motor Co. 2020/2023 ...................  | USD | 505 000 | 505 000 |  | % | 105,662 | 533 590,58 | 0,34 |
| 3,219 % Ford Motor Credit Co. LLC (MTN) 2015/2022 ....  | USD | 950 000 | 950 000 |  | % | 97,628 | 927 470,75 | 0,60 |
| 4,14  % Ford Motor Credit Co. LLC (MTN) 2018/2023 ....  | USD | 356 000 | 356 000 |  | % | 98,072 | 349 134,54 | 0,23 |
| 5,113 % Ford Motor Credit Co. LLC (MTN) 2019/2029 ....  | USD | 200 000 | 200 000 |  | % | 98,048 | 196 097,00 | 0,13 |
| 5,125 % Ford Motor Credit Co. LLC (MTN) 2020/2025 ....  | USD | 850 000 | 850 000 |  | % | 100,068 | 850 578,00 | 0,55 |
| 5,00  % Freeport-McMoRan, Inc. (MTN) 2019/2027 ......  | USD | 260 000 | 500 000 | 1 085 000 | % | 100,572 | 261 488,50 | 0,17 |
| 4,125 % Freeport-McMoRan, Inc. (MTN) 2020/2028 ......  | USD | 810 000 | 810 000 |  | % | 96,508 | 781 710,75 | 0,50 |
| 4,25  % Freeport-McMoRan, Inc. (MTN) 2020/2030 ......  | USD | 460 000 | 460 000 |  | % | 97,24 | 447 301,70 | 0,29 |
| 6,50 % Genesis Energy LP via Genesis Energy Finance |  |  |  |  |  |  |  |  |
| Corp. (MTN) 2017/2025 .....................  | USD | 280 000 |  |  | % | 86,362 | 241 812,20 | 0,16 |
| 6,25 % Genesis Energy LP Via Genesis Energy Finance |  |  |  |  |  |  |  |  |
| Corp. (MTN) 2017/2026 .....................  | USD | 220 000 | % | 85,676 | 188 488,30 | 0,12 |

| Wertpapierbezeichnung | Stück bzw. Anteile bzw. | Nominalbetrag bzw. | Käufe/ Zugänge | Verkäufe/ Abgänge | Kurs | Kurswert in | %-Anteil am Fonds- |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Währung	Bestand	im Berichtszeitraum	USD	vermögen |
| 5,625 % HCA, Inc. (MTN) 2018/2028 ..................  | USD | 150 000 | 150 000 |  | % | 111,636 | 167 453,25 | 0,11 |
| 5,875 % HCA, Inc. (MTN) 2019/2029 ..................  | USD | 275 000 | 275 000 |  | % | 113,26 | 311 466,38 | 0,20 |
| 5,875 % HCA, Inc. 2015/2026 .......................  | USD | 410 000 | 410 000 |  | % | 109,82 | 450 262,00 | 0,29 |
| 5,75  % Hillenbrand, Inc. (MTN) 2020/2025 ............  | USD | 560 000 | 560 000 |  | % | 103,916 | 581 932,40 | 0,38 |
| 6,875 % Howmet Aerospace, Inc. (MTN) 2020/2025 .....  | USD | 830 000 | 830 000 |  | % | 108,776 | 902 840,80 | 0,58 |
| 5,25 % iStar, Inc. (MTN) 2017/2022 ..................  | USD | 165 000 | 165 000 |  | % | 97,85 | 161 452,50 | 0,10 |
| 4,25 % iStar, Inc. (MTN) 2019/2025 ..................  | USD | 545 000 |  | 400 000 | % | 91,974 | 501 255,58 | 0,32 |
| 6,625 % L Brands, Inc. (MTN) 2011/2021 ..............  | USD | 150 000 | 150 000 |  | % | 103,376 | 155 064,00 | 0,10 |
| 5,625 % L Brands, Inc. (MTN) 2012/2022 ..............  | USD | 160 000 | 160 000 |  | % | 98,705 | 157 928,00 | 0,10 |
| 6,25  % Meritor, Inc. (MTN) 2014/2024 ...............  | USD | 300 000 |  |  | % | 102,392 | 307 176,00 | 0,20 |
| 4,625 % MPT Operating Partnership LP Via MPT Finance |  |  |  |  |  |  |  |  |
| Corp. (MTN) 2019/2029 .....................  | USD | 475 000 |  |  | % | 100,814 | 478 866,50 | 0,31 |
| 5,625 % Murphy Oil USA, Inc. (MTN) 2017/2027 ........  | USD | 30 000 |  |  | % | 103,858 | 31 157,25 | 0,02 |
| 5,75  % NRG Energy, Inc. (MTN) 2018/2028 ...........  | USD | 490 000 |  |  | % | 105,83 | 518 569,45 | 0,33 |
| 2,60  % Occidental Petroleum Corp. (MTN) 2016/2022 ...  | USD | 585 000 | 585 000 |  | % | 94,606 | 553 445,10 | 0,36 |
| 3,125 % Occidental Petroleum Corp. 2011/2022 .........  | USD | 235 000 | 235 000 |  | % | 96,226 | 226 132,28 | 0,15 |
| 2,70  % Occidental Petroleum Corp. 2012/2023 .........  | USD | 1 600 000 | 1 600 000 |  | % | 91,602 | 1 465 640,00 | 0,95 |
| 2,70  % Occidental Petroleum Corp. 2019/2022 .........  | USD | 570 000 | 570 000 |  | % | 93,602 | 533 534,25 | 0,34 |
| 5,625 % Olin Corp. (MTN) 2019/2029 .................  | USD | 281 000 |  | 908 000 | % | 92,206 | 259 098,86 | 0,17 |
| 5,00  % PG&E Corp. (MTN) 2020/2028 ................  | USD | 370 000 | 370 000 |  | % | 99,578 | 368 438,60 | 0,24 |
| 6,375 % PulteGroup, Inc. 2003/2033 ..................  | USD | 330 000 |  |  | % | 116,419 | 384 182,70 | 0,25 |
| 5,00  % Range Resources Corp. (MTN) 2017/2022 ......  | USD | 285 000 |  |  | % | 91,249 | 260 059,65 | 0,17 |
| 6,625 % SM Energy Co. (MTN) 2018/2027 .............  | USD | 360 000 | 360 000 |  | % | 49,563 | 178 426,80 | 0,12 |
| 6,125 % Sonic Automotive, Inc. (MTN) 2017/2027 .......  | USD | 50 000 |  |  | % | 100,79 | 50 395,25 | 0,03 |
| 6,20  % Southwestern Energy Co. (MTN) 2015/2025 * ...  | USD | 505 000 | 240 000 |  | % | 87,206 | 440 390,30 | 0,28 |
| 7,75  % Southwestern Energy Co. (MTN) 2017/2027 .....  | USD | 100 000 |  |  | % | 87,928 | 87 928,00 | 0,06 |
| 6,625 % Springleaf Finance Corp. (MTN) 2019/2028 ......  | USD | 40 000 |  |  | % | 99,812 | 39 924,80 | 0,03 |
| 5,375 % Springleaf Finance Corp. (MTN) 2019/2029 ......  | USD | 580 000 |  |  | % | 93,818 | 544 147,30 | 0,35 |
| 8,875 % Springleaf Finance Corp. (MTN) 2020/2025 ......  | USD | 170 000 | 170 000 |  | % | 107,038 | 181 965,45 | 0,12 |
| 6,875 % Sprint Capital Corp. 1998/2028 ...............  | USD | 1 325 000 | 545 000 | 1 365 000 | % | 121,412 | 1 608 702,38 | 1,04 |
| 7,125 % Sprint Corp. (MTN) 2014/2024 ................  | USD | 385 000 |  | 45 000 | % | 112,451 | 432 936,35 | 0,28 |
| 8,00 % Starfruit Finco BV Via Starfruit US Holdco LLC |  |  |  |  |  |  |  |  |
| -144A- (MTN) 2018/2026 ....................  | USD | 350 000 | 350 000 |  | % | 99,724 | 349 034,00 | 0,23 |
| 5,125 % Tenet Healthcare Corp. (MTN) 2017/2025 .......  | USD | 350 000 | 350 000 | 670 000 | % | 96,672 | 338 350,25 | 0,22 |
| 5,50  % TransDigm, Inc. (MTN) 2020/2027 .............  | USD | 1 160 000 | 1 160 000 |  | % | 88,03 | 1 021 142,20 | 0,66 |
| 5,25  % TRI Pointe Group, Inc. (MTN) 2017/2027 ........  | USD | 50 000 |  |  | % | 100,274 | 50 137,00 | 0,03 |
| 5,70  % TRI Pointe Group, Inc. (MTN) 2020/2028 ........  | USD | 290 000 | 290 000 |  | % | 102,067 | 295 994,30 | 0,19 |
| 4,625 % United Rentals North America, Inc. (MTN) |  |  |  |  |  |  |  |  |
| 2017/2025 ...............................  | USD | 700 000 |  |  | % | 100,63 | 704 406,50 | 0,45 |
| 4,00  % United Rentals North America, Inc. (MTN) |  |  |  |  |  |  |  |  |
| 2020/2030 ...............................  | USD | 140 000 | 140 000 |  | % | 96,936 | 135 711,10 | 0,09 |
| 5,25  % United Rentals North America, Inc. 2019/2030 ...  | USD | 320 000 |  |  | % | 103,532 | 331 300,80 | 0,21 |
| 5,50  % Virgin Media Secured Finance PLC -144A- (MTN) |  |  |  |  |  |  |  |  |
| 2019/2029 ...............................  | USD | 1 250 000 | 500 000 |  | % | 104,972 | 1 312 143,75 | 0,85 |
| 4,05 % Western Midstream Operating LP (MTN) |  |  |  |  |  |  |  |  |
| 2020/2030 ...............................  | USD | 180 000 | 180 000 |  | % | 95,54 | 171 972,00 | 0,11 |
| 5,25  % WPX Energy, Inc. (MTN) 2014/2024 ...........  | USD | 265 000 |  | 700 000 | % | 99,014 | 262 385,78 | 0,17 |
| 5,25  % WPX Energy, Inc. (MTN) 2019/2027 ...........  | USD | 285 000 |  | 70 000 | % | 93,752 | 267 193,20 | 0,17 |
| 4,50  % WPX Energy, Inc. (MTN) 2020/2030 ...........  | USD | 425 000 | 425 000 |  | % | 88,13 | 374 552,50 | 0,24 |
| 4,875 % Ziggo BV -144A- 2019/2030 ..................  | USD | 595 000 |  |  | % | 100,214 | 596 276,28 | 0,39 |

An organisierten Märkten zugelassene oder in diese einbezogene Wertpapiere	104 678 219,78	67,60 Verzinsliche Wertpapiere
5,00  % 1011778 BC ULC Via New Red Finance, Inc.
| -144A- (MTN) 2017/2025 ....................  | USD | 500 000 | 500 000 | % | 99,49 | 497 447,50 | 0,32 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 9,00  % Adient US LLC -144A- (MTN) 2020/2025 ........  | USD | 80 000 | 80 000 | % | 107,858 | 86 286,00 | 0,06 |
| 6,25  % AG Issuer LLC -144A- (MTN) 2020/2028 ........  | USD | 280 000 | 280 000 | % | 95,033 | 266 092,40 | 0,17 |
| 7,375 % Ahern Rentals, Inc. -144A- (MTN) 2015/2023 ....  | USD | 115 000 | 115 000 | % | 46,606 | 53 596,33 | 0,03 |
| 5,875 % Albertsons Cos LLC Via Safeway, Inc. Via |  |  |  |  |  |  |  |
| New Albertsons LP Via Albertson‘s LLC -144A- |  |  |  |  |  |  |  |
| (MTN) 2019/2028 ..........................  | USD | 195 000 |  | % | 102,906 | 200 665,73 | 0,13 |
| 4,625 % Albertsons Cos, Inc. via Safeway, Inc. Via |  |  |  |  |  |  |  |
| New Albertsons LP via Albertsons LLC -144A- |  |  |  |  |  |  |  |
| (MTN) 2019/2027 ..........................  | USD | 880 000 | 320 000 | % | 100,412 | 883 630,00 | 0,57 |
| 10,50 % Altice France Holding SA -144A- (MTN) 2020/2027 | USD | 400 000 | 400 000 | % | 111 | 444 000,00 | 0,29 |
| 8,125 % Altice France SA/France -144A- (MTN) 2018/2027 | USD | 760 000 | 560 000 | % | 109,218 | 830 056,80 | 0,54 |
| 6,25  % American Axle & Manufacturing, Inc. (MTN) |  |  |  |  |  |  |  |
| 2018/2025 ...............................  | USD | 345 000 |  | % | 97,95 | 337 925,78 | 0,22 |
| 4,00  % American Builders & Contractors Supply Co., Inc. |  |  |  |  |  |  |  |
| -144A- (MTN) 2019/2028 ....................  | USD | 679 000 | % | 96,538 | 655 489,63 | 0,42 |
| 7,75  % AmWINS Group, Inc. -144A- (MTN) 2018/2026 ...  | USD | 230 000 | % | 104,686 | 240 778,95 | 0,15 |
| 5,375 % Antero Midstream Partners LP via Antero |  |  |  |  |  |  |
| Midstream Finance Corp. (MTN) 2017/2024 .....  | USD | 385 000 | % | 83,192 | 320 291,13 | 0,21 |
| 5,75 % Antero Midstream Partners LP Via Antero |  |  |  |  |  |  |  |
| Midstream Finance Corp. -144A- (MTN) 2019/2028 | USD | 290 000 | % | 79,983 | 231 950,70 | 0,15 |
| 6,875 % Archrock Partners LP Via Archrock Partners |  |  |  |  |  |  |  |
| Finance Corp. -144A- (MTN) 2019/2027 .........  | USD | 110 000 | % | 94,032 | 103 435,75 | 0,07 |
| 6,25  % Archrock Partners LP Via Archrock Partners |  |  |  |  |  |  |  |
| Finance Corp. -144A- (MTN) 2019/2028 .........  | USD | 560 000 | 780 000 | 340 000 | % | 92,218 | 516 418,00 | 0,33 |
| 6,00  % Arconic Corp. -144A- (MTN) 2020/2025 .........  | USD | 70 000 | 70 000 |  | % | 102,998 | 72 098,25 | 0,05 |
| 6,125 % Arconic Rolled Products Corp. -144A- (MTN) |  |  |  |  |  |  |  |  |
| 2020/2028 ...............................  | USD | 635 000 | 635 000 |  | % | 100,514 | 638 263,90 | 0,41 |

|  | Stück bzw. | Nominalbetrag | Käufe/ | Verkäufe/ | Kurs | Kurswert | %-Anteil am |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Wertpapierbezeichnung | Anteile bzw. | bzw. | Zugänge | Abgänge |  | in | Fonds- |
| Währung	Bestand	im Berichtszeitraum	USD	vermögen |

4,125 % Ardagh Packaging Finance PLC Via Ardagh
Holdings USA, Inc. -144A- (MTN) 2019/2026 ....	USD	220 000	220 000	640 000	%	98,264	216 179,70	0,14
5,25  % Ardagh Packaging Finance PLC Via Ardagh
Holdings USA, Inc. -144A- (MTN) 2020/2027 ....	USD	200 000	200 000	%	98,487	196 974,00	0,13
10,00 % Ascent Resources Utica Holdings LLC Via ARU
|  | Finance Corp. -144A- (MTN) 2017/2022 .........  | USD | 270 000 | 270 000 |  | % | 86,158 | 232 626,60 | 0,15 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 4,75 | % Axalta Coating Systems LLC Via Axalta Coating |  |  |  |  |  |  |  |  |
|  | Systems Dutch Holding B BV -144A- |  |  |  |  |  |  |  |  |
|  | (MTN) 2020/2027 ..........................  | USD | 280 000 | 280 000 |  | % | 100,798 | 282 235,80 | 0,18 |
| 9,25 | % Bausch Health Americas, Inc. -144A- (MTN) |  |  |  |  |  |  |  |  |
|  | 2018/2026 ...............................  | USD | 90 000 |  |  | % | 108,303 | 97 472,70 | 0,06 |
| 8,50 | % Bausch Health Americas, Inc. -144A- (MTN) |  |  |  |  |  |  |  |  |
|  | 2018/2027 ...............................  | USD | 610 000 |  |  | % | 106,436 | 649 262,65 | 0,42 |
| 5,75 | % Bausch Health Companies, Inc. -144A- (MTN) |  |  |  |  |  |  |  |  |
|  | 2019/2027 ...............................  | USD | 100 000 |  |  | % | 105,792 | 105 792,00 | 0,07 |
| 7,00 | % Bausch Health Companies, Inc. -144A- (MTN) |  |  |  |  |  |  |  |  |
|  | 2019/2028 ...............................  | USD | 45 000 |  |  | % | 102,705 | 46 217,25 | 0,03 |
| 5,00 | % Bausch Health Companies, Inc. -144A- (MTN) |  |  |  |  |  |  |  |  |
|  | 2019/2028 ...............................  | USD | 360 000 | 360 000 | 360 000 | % | 94,368 | 339 723,00 | 0,22 |
| 7,25 | % Bausch Health Companies, Inc. -144A- (MTN) |  |  |  |  |  |  |  |  |
|  | 2019/2029 ...............................  | USD | 20 000 |  |  | % | 104,783 | 20 956,60 | 0,01 |
| 5,25 | % Bausch Health Companies, Inc. -144A- 2019/2030 | USD | 860 000 | 860 000 | 280 000 | % | 94,488 | 812 592,50 | 0,52 |
| 6,25 | % Bausch Health Cos, Inc. -144A- (MTN) 2020/2029 | USD | 535 000 | 535 000 |  | % | 100,298 | 536 594,30 | 0,35 |
| 5,625 | % Berry Global, Inc. -144A- (MTN) 2019/2027 ......  | USD | 25 000 |  |  | % | 103,647 | 25 911,75 | 0,02 |
| 5,75 | % Bombardier, Inc. -144A- (MTN) 2012/2022 ......  | USD | 424 000 |  | 60 000 | % | 74,036 | 313 914,76 | 0,20 |
| 6,00 | % Bombardier, Inc. -144A- (MTN) 2014/2022 ......  | USD | 630 000 |  | 570 000 | % | 70,625 | 444 937,50 | 0,29 |
| 7,125 | % Boxer Parent Co., Inc. -144A- (MTN) 2020/2025 ..  | USD | 200 000 | 200 000 |  | % | 105,023 | 210 046,00 | 0,14 |
| 6,00 | % Boyd Gaming Corp. (MTN) 2018/2026 ..........  | USD | 272 000 |  | 260 000 | % | 94,079 | 255 894,88 | 0,16 |
| 4,75 | % Boyd Gaming Corp. -144A- (MTN) 2019/2027 ....  | USD | 250 000 |  |  | % | 86,53 | 216 325,00 | 0,14 |
| 4,125 | % Buckeye Partners LP -144A- (MTN) 2020/2025 ...  | USD | 140 000 | 140 000 |  | % | 95,264 | 133 370,30 | 0,09 |
| 4,50 | % Buckeye Partners LP -144A- (MTN) 2020/2028 ...  | USD | 230 000 | 230 000 |  | % | 93,522 | 215 100,60 | 0,14 |
| 7,25 | % BWAY Holding Co. -144A- (MTN) 2017/2025 ....  | USD | 690 000 |  |  | % | 90,037 | 621 255,30 | 0,40 |
| 6,875 | % C&W Senior Financing DAC -144A- (MTN) |  |  |  |  |  |  |  |  |
|  | 2017/2027 ...............................  | USD | 200 000 |  |  | % | 99,086 | 198 171,00 | 0,13 |
| 5,25 | % Calpine Corp. -144A- (MTN) 2016/2026 .........  | USD | 830 000 |  |  | % | 101,229 | 840 200,70 | 0,54 |
| 4,50 | % Calpine Corp. -144A- (MTN) 2019/2028 .........  | USD | 575 000 |  |  | % | 98,256 | 564 972,00 | 0,36 |
| 4,50 | % Camelot Finance SA -144A- (MTN) 2019/2026 ...  | USD | 230 000 |  |  | % | 100,337 | 230 775,10 | 0,15 |
| 4,75 | % Cargo Aircraft Management, Inc. -144A- (MTN) |  |  |  |  |  |  |  |  |
|  | 2020/2028 ...............................  | USD | 340 000 | 340 000 |  | % | 99,168 | 337 171,20 | 0,22 |
| 11,50 | % Carnival Corp. -144A- 2020/2023 ..............  | USD | 435 000 | 815 000 | 380 000 | % | 106,482 | 463 196,70 | 0,30 |
| 5,125 | % Cascades, Inc. Via Cascades USA, Inc. -144A- |  |  |  |  |  |  |  |  |
|  | (MTN) 2019/2026 ..........................  | USD | 150 000 |  |  | % | 102,216 | 153 324,00 | 0,10 |
| 5,375 | % Cascades, Inc. Via Cascades USA, Inc. -144A- |  |  |  |  |  |  |  |  |
|  | (MTN) 2019/2028 ..........................  | USD | 175 000 |  |  | % | 102,079 | 178 638,25 | 0,11 |
| 5,00 | % Catalent Pharma Solutions, Inc. -144A- (MTN) |  |  |  |  |  |  |  |  |
|  | 2019/2027 ...............................  | USD | 425 000 |  |  | % | 104,224 | 442 954,13 | 0,29 |
| 5,50 | % CCO Holdings LLC Via CCO Holdings Capital Corp. |  |  |  |  |  |  |  |  |
|  | -144A- (MTN) 2016/2026 ....................  | USD | 1 830 000 |  | 570 000 | % | 103,743 | 1 898 496,90 | 1,23 |
| 4,50 | % CCO Holdings LLC Via CCO Holdings Capital Corp. |  |  |  |  |  |  |  |  |
|  | -144A- (MTN) 2020/2030 ....................  | USD | 1 490 000 | 1 490 000 |  | % | 101,621 | 1 514 152,90 | 0,98 |
| 4,125 | % CDW LLC Via CDW Finance Corp. (MTN) |  |  |  |  |  |  |  |  |
| 2020/2025 ...............................  | USD | 380 000 | 380 000 |  | % | 100,604 | 382 297,10 | 0,25 |
| 4,625 % Centene Corp. (MTN) 2020/2029 ..............  | USD | 695 000 | 695 000 |  | % | 105,75 | 734 962,50 | 0,47 |
| 3,375 % Centene Corp. (MTN) 2020/2030 ..............  | USD | 426 000 | 426 000 |  | % | 100,35 | 427 491,00 | 0,28 |
| 5,375 % Centene Corp. -Reg- (MTN) 2020/2026 .........  | USD | 160 000 | 160 000 |  | % | 103,927 | 166 283,20 | 0,11 |
| 5,75  % Change Healthcare Holdings LLC Via Change |  |  |  |  |  |  |  |  |
| Healthcare Finance, Inc. -144A- (MTN) 2017/2025 | USD | 90 000 |  | 580 000 | % | 99,014 | 89 112,15 | 0,06 |
| 4,25 | % Charles River Laboratories International, Inc. |  |  |  |  |  |  |  |  |
| -144A- (MTN) 2019/2028 ....................  | USD | 630 000 | % | 100,077 | 630 485,10 | 0,41 |
| 4,50 | % Cheniere Energy Partners LP -144A- (MTN) |  |  |  |  |  |  |  |  |
| 2019/2029 ...............................  | USD | 985 000 | 750 000 | % | 97,044 | 955 888,33 | 0,62 |
| 8,125 | % CHS Via Community Health Systems, Inc. -144A- |  |  |  |  |  |  |  |  |
| (MTN) 2018/2024 ..........................  | USD | 310 000 | 360 000 | 50 000 | % | 68,375 | 211 962,50 | 0,14 |
| 7,00  % Cimpress PLC -144A- (MTN) 2018/2026 ........  | USD | 270 000 | 270 000 |  | % | 92,459 | 249 639,30 | 0,16 |
| 5,875 % Clark Equipment Co. -144A- (MTN) 2020/2025 ...  | USD | 195 000 | 195 000 |  | % | 102,688 | 200 240,63 | 0,13 |
| 5,125 % Clean Harbors, Inc. -144A- (MTN) 2019/2029 ....  | USD | 90 000 |  |  | % | 103,808 | 93 427,20 | 0,06 |
| 5,125 % Clear Channel Worldwide Holdings, Inc. -144A- |  |  |  |  |  |  |  |  |
| (MTN) 2019/2027 ..........................  | USD | 840 000 |  | 860 000 | % | 97,046 | 815 190,60 | 0,53 |
| 9,25  % Clear Channel Worldwide Holdings, Inc. 2020/2024 | USD | 702 000 | 702 000 |  | % | 93,634 | 657 314,19 | 0,42 |
| 4,75  % Clearway Energy Operating LLC -144A- (MTN) |  |  |  |  |  |  |  |  |
| 2019/2028 ...............................  | USD | 875 000 | 235 000 |  | % | 102,164 | 893 939,38 | 0,58 |
| 6,75  % Cleveland-Cliffs, Inc. -144A- (MTN) 2020/2026 ...  | USD | 80 000 | 80 000 |  | % | 96,543 | 77 234,40 | 0,05 |
| 6,375 % Colfax Corp. -144A- (MTN) 2019/2026 ..........  | USD | 95 000 |  |  | % | 104,616 | 99 385,20 | 0,06 |
| 5,75  % Colt Merger Sub, Inc. -144A- (MTN) 2020/2025 ..  | USD | 50 000 | 50 000 |  | % | 100,33 | 50 165,25 | 0,03 |
| 6,25  % Colt Merger Sub, Inc. -144A- (MTN) 2020/2025 ..  | USD | 650 000 | 650 000 |  | % | 99,536 | 646 984,00 | 0,42 |
| 8,125 % Colt Merger Sub, Inc. -144A- (MTN) 2020/2027 ..  | USD | 320 000 | 320 000 |  | % | 97,144 | 310 862,40 | 0,20 |
| 5,50  % CommScope, Inc. -144A- (MTN) 2014/2024 .....  | USD | 330 000 | 330 000 |  | % | 101,833 | 336 048,90 | 0,22 |
| 5,50  % CommScope, Inc. -144A- (MTN) 2019/2024 .....  | USD | 505 000 |  |  | % | 101,721 | 513 691,05 | 0,33 |
| 8,25  % CommScope, Inc. -144A- (MTN) 2019/2027 .....  | USD | 550 000 |  |  | % | 102,434 | 563 384,25 | 0,36 |
| 7,125 % CommScope, Inc. -144A- (MTN) 2020/2028 .....  | USD | 230 000 | 450 000 | 220 000 | % | 99,625 | 229 137,50 | 0,15 |
| 5,625 % Constellium SE -144A- (MTN) 2020/2028 .......  | USD | 250 000 | 250 000 |  | % | 98,55 | 246 375,00 | 0,16 |
| 5,625 % Crestwood Midstream Partners LP Via Crestwood |  |  |  |  |  |  |  |  |
| Midstream Finance Corp. -144A- (MTN) 2019/2027 | USD | 150 000 |  |  | % | 82,387 | 123 580,50 | 0,08 |

7,50  % CSC Holdings LLC -144A- (MTN) 2018/2028 .....	USD	400 000	%	109,48	437 920,00	0,28
4,125 % CSC Holdings LLC -144A- (MTN) 2020/2030 .....	USD	507 000	507 000	%	99,204	502 961,75	0,32
5,50  % CSC Holdings LLC -144A- 2016/2027 ..........	USD	700 000	%	104,492	731 447,50	0,47
5,75  % CSC Holdings LLC -144A- 2019/2030 ..........	USD	565 000	%	104,18	588 617,00	0,38
6,75 % Cushman & Wakefield US Borrower LLC -144A-
(MTN) 2020/2028 ..........................	USD	465 000	465 000	%	105,006	488 277,90	0,31
5,75  % Dana Financing Luxembourg Sarl -144A- (MTN)
2017/2025 ...............................	USD	895 000	775 000	520 000	%	101,602	909 337,90	0,59
4,625 % DaVita, Inc. -144A- (MTN) 2020/2030 ..........	USD	175 000	355 000	180 000	%	99,059	173 353,25	0,11
5,375 % DCP Midstream Operating LP (MTN) 2018/2025 .	USD	742 000	625 000	%	99,628	739 243,47	0,48
5,625 % DCP Midstream Operating LP (MTN) 2020/2027 .	USD	150 000	150 000	%	99,936	149 904,00	0,10
7,00  % Delta Air Lines, Inc. -144A- (MTN) 2020/2025 ....	USD	350 000	610 000	260 000	%	103,264	361 422,25	0,23
5,375 % Diamond Sports Group LLC Via Diamond Sports
Finance Co. -144A- (MTN) 2019/2026 ..........	USD	280 000	649 000	%	73,2	204 958,60	0,13
5,875 % DISH DBS Corp. (MTN) 2015/2024 ............	USD	292 000	740 000	%	99,676	291 052,46	0,19
7,375 % DISH DBS Corp. -144A- (MTN) 2020/2028 ......	USD	155 000	320 000	165 000	%	99,892	154 832,60	0,10
7,75  % DISH DBS Corp., (MTN) 2016/2026 ............	USD	280 000	375 000	%	106,008	296 822,40	0,19
5,50  % Edgewell Personal Care Co. -144A- (MTN) 2020/2028 USD	250 000	250 000	%	102,604	256 511,25	0,17
6,00  % Eldorado Resorts, Inc. (MTN) 2019/2026 ........	USD	425 000	425 000	%	110,528	469 744,00	0,30
5,875 % Element Solutions, Inc. -144A- (MTN) 2017/2025 .	USD	300 000	%	100,934	302 802,00	0,20
5,50 % Endeavor Energy Resources LP Via EER
Finance, Inc. -144A- (MTN) 2017/2026 .........	USD	350 000	%	96,152	336 530,25	0,22
5,75 % Endeavor Energy Resources LP Via EER
Finance, Inc. -144A- 2017/2028 ...............	USD	240 000	%	96,504	231 610,80	0,15
5,875 % Endo Dac Via Endo Finance LLC via Endo
Finco, Inc. -144A- (MTN) 2017/2024 ...........	USD	500 000	%	98,235	491 175,00	0,32
4,75  % Energizer Holdings, Inc. -144A- (MTN) 2020/2028 .	USD	170 000	170 000	%	98,572	167 573,25	0,11
4,375 % EnerSys -144A- (MTN) 2019/2027 .............	USD	330 000	%	99,516	328 402,80	0,21
6,00 % EQM Midstream Partners LP -144A- (MTN)
2020/2025 ...............................	USD	485 000	485 000	%	101,688	493 189,23	0,32
6,50 % EQM Midstream Partners LP -144A- (MTN)
2020/2027 ...............................	USD	235 000	500 000	265 000	%	102,381	240 595,35	0,15
5,25  % Fair Isaac Corp. -144A- (MTN) 2018/2026 .......	USD	145 000	%	110,07	159 601,50	0,10
7,25  % First Quantum Minerals Ltd -144A- (MTN)
2017/2023 ...............................	USD	237 000	437 000	200 000	%	95,912	227 310,26	0,15
7,50  % First Quantum Minerals Ltd -144A- (MTN)
2017/2025 ...............................	USD	793 000	353 000	%	95,861	760 177,73	0,49
6,50  % First Quantum Minerals Ltd -144A- (MTN)
2018/2024 ...............................	USD	550 000	%	94,083	517 456,50	0,33
6,875 % First Quantum Minerals Ltd -144A- (MTN)
2018/2026 ...............................	USD	200 000	%	94,964	189 927,00	0,12
6,125 % Front Range BidCo, Inc. -144A- (MTN) 2020/2028	USD	105 000	105 000	%	97,478	102 351,38	0,07
8,00  % Frontier Communications Corp. -144A- (MTN)
2019/2027 ...............................	USD	460 000	400 000	%	101,924	468 852,70	0,30
5,125 % GFL Environmental, Inc. -144A- (MTN) 2019/2026	USD	170 000	%	103,402	175 784,25	0,11
4,25  % GFL Environmental, Inc. -144A- (MTN) 2020/2025	USD	1 170 000	1 170 000	%	100,536	1 176 265,35	0,76
5,375 % HD Supply, Inc. -144A- (MTN) 2018/2026 .......	USD	230 000	%	102,174	234 999,05	0,15
5,00  % Hilcorp Energy I LP Via Hilcorp Finance Co.
-144A- (MTN) 2014/2024 ....................	USD	680 000	620 000	%	86,364	587 278,60	0,38
5,125 % Hilton Domestic Operating Co, Inc.
(MTN) 2019/2026 ..........................	USD	500 000	500 000	%	98,992	494 962,50	0,32
5,375 % Hilton Domestic Operating Co., Inc. -144A-
(MTN) 2020/2025 ..........................	USD	90 000	90 000	%	99,903	89 912,70	0,06
7,25  % Hudbay Minerals, Inc. -144A- (MTN) 2016/2023 ..	USD	400 000	%	99,384	397 536,00	0,26
7,625 % HudBay Minerals, Inc. -144A- (MTN) 2016/2025 ..	USD	645 000	770 000	%	94,794	611 421,30	0,39
5,50 % IAA, Inc. -144A- (MTN) 2019/2027 .............	USD	130 000	%	103,582	134 655,95	0,09
9,00  % Illuminate Buyer LLC Via Illuminate Holdings IV,
Inc. -144A- (MTN) 2020/2028 .................	USD	60 000	60 000	%	104,638	62 782,50	0,04
5,017 % Intesa Sanpaolo SpA -144A- (MTN) 2014/2024 ...	USD	320 000	300 000	%	102,112	326 756,80	0,21
5,71  % Intesa Sanpaolo SpA -144A- (MTN) 2016/2026 ...	USD	300 000	500 000	%	106,418	319 255,50	0,21
7,00  % IRB Holding Corp. -144A- (MTN) 2020/2025 .....	USD	160 000	160 000	%	102,896	164 633,60	0,11
5,375 % Iron Mountain US Holdings, Inc. -144A- (MTN)
2016/2026 ...............................	USD	900 000	%	101,006	909 058,50	0,59
4,875 % Iron Mountain, Inc. -144A- (MTN) 2019/2029 ....	USD	215 000	215 000	%	97,723	210 104,45	0,14
5,00 % Iron Mountain, Inc. -144A- (MTN) 2020/2028 ....	USD	225 000	225 000	%	98,759	222 207,75	0,14
5,25 % Iron Mountain, Inc. -144A- (MTN) 2020/2030 ....	USD	540 000	540 000	%	98,752	533 260,80	0,34
5,625 % Iron Mountain, Inc. -144A- 2020/2032 ..........	USD	210 000	210 000	%	100,262	210 549,15	0,14
5,00 % Itron, Inc. -144A- (MTN) 2017/2026 ............	USD	140 000	%	99,82	139 748,00	0,09
4,625 % Jaguar Holding Co. II Via PPD Development LP
-144A- (MTN) 2020/2025 ....................	USD	180 000	180 000	%	101,778	183 199,50	0,12
5,00 % Jaguar Holding Co. II Via PPD Development LP
-144A- (MTN) 2020/2028 ....................	USD	155 000	155 000	%	102,642	159 095,88	0,10 6,75  % JBS USA LUX SA Via JBS USA Finance,
Inc. -144A- (MTN) 2018/2028 .................	USD	918 000	%	106,082	973 837,35	0,63 6,50  % JBS USA LUX SA Via JBS USA Food Co. Via
JBS USA Finance, Inc. -144A- (MTN) 2019/2029 ..	USD	550 000	%	106,098	583 541,75	0,38 5,50  % JBS USA LUX SA Via JBS USA Food Co. Via
JBS USA Finance, Inc. -144A- 2019/2030 .......	USD	635 000	%	102,705	652 176,75	0,42
6,25  % JELD-WEN, Inc. -144A- (MTN) 2020/2025 .......	USD	80 000	80 000	%	104,584	83 667,60	0,05
4,625 % Kaiser Aluminum Corp. -144A- (MTN) 2019/2028 .	USD	170 000	%	96,726	164 433,35	0,11
4,625 % Korn Ferry -144A- (MTN) 2019/2027 ...........	USD	110 000	%	97,1	106 810,55	0,07
4,25  % Kraft Heinz Foods Co. -144A- 2020/2031 ........	USD	780 000	780 000	%	106,072	827 357,70	0,53
4,625 % Kraft Heinz Foods Co. 2018/2029 .............	USD	210 000	210 000	%	107,868	226 523,85	0,15
| Wertpapierbezeichnung | Stück bzw. Anteile bzw. | Nominalbetrag bzw. | Käufe/ Zugänge | Verkäufe/ Abgänge | Kurs | Kurswert in | %-Anteil am Fonds- |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Währung	Bestand	im Berichtszeitraum	USD	vermögen |
| 6,875 % L Brands, Inc. -144A- (MTN) 2020/2025 ........  | USD | 360 000 | 360 000 | % | 103,561 | 372 819,60 | 0,24 |
| 9,375 % L Brands, Inc. -144A- (MTN) 2020/2025 ........  | USD | 210 000 | 210 000 | % | 101,106 | 212 323,65 | 0,14 |
| 6,75  % LABL Escrow Issuer LLC -144A- (MTN) 2019/2026 | USD | 290 000 |  | % | 104,414 | 302 800,60 | 0,20 |
| 4,875 % Lamar Media Corp. -144A- (MTN) 2020/2029 ....  | USD | 270 000 | 270 000 | % | 101,252 | 273 379,05 | 0,18 |
| 4,875 % Lamb Weston Holdings, Inc. -144A- (MTN) |  |  |  |  |  |  |  |
| 2020/2028 ...............................  | USD | 80 000 | 80 000 | % | 105,462 | 84 369,20 | 0,05 |
| 6,75  % LCPR Senior Secured Financing DAC -144A- |  |  |  |  |  |  |  |  |
| (MTN) 2019/2027 ..........................  | USD | 775 000 |  |  | % | 102,282 | 792 681,63 | 0,51 |
| 5,00  % Lennar Corp (MTN) 2018/2027 ...............  | USD | 200 000 |  | 800 000 | % | 108,248 | 216 496,00 | 0,14 |
| 6,75  % LifePoint Health, Inc. -144A- (MTN) 2020/2025 ...  | USD | 420 000 | 420 000 |  | % | 102,886 | 432 123,30 | 0,28 |
| 6,375 % Lions Gate Capital Holdings LLC -144A- (MTN) |  |  |  |  |  |  |  |  |
| 2019/2024 ...............................  | USD | 100 000 |  |  | % | 97,912 | 97 911,50 | 0,06 |
| 4,625 % Lithia Motors, Inc. -144A- (MTN) 2019/2027 .....  | USD | 510 000 |  |  | % | 99,116 | 505 491,60 | 0,33 |
| 4,625 % LPL Holdings, Inc. -144A- (MTN) 2019/2027 .....  | USD | 110 000 |  |  | % | 99,295 | 109 224,50 | 0,07 |
| 4,95  % M/I Homes, Inc. (MTN) 2020/2028 ............  | USD | 440 000 | 440 000 |  | % | 99,32 | 437 005,80 | 0,28 |
| 6,125 % Marriott Ownership Resorts, Inc. -144A- (MTN) |  |  |  |  |  |  |  |  |
| 2020/2025 ...............................  | USD | 420 000 | 420 000 |  | % | 102,372 | 429 964,50 | 0,28 |
| 5,375 % Masonite International Corp. -144A- (MTN) |  |  |  |  |  |  |  |  |
| 2019/2028 ...............................  | USD | 251 000 |  |  | % | 102,494 | 257 259,94 | 0,17 |
| 5,875 % Matador Resources Co. (MTN) 2018/2026 ......  | USD | 380 000 |  |  | % | 75,607 | 287 306,60 | 0,18 |
| 6,75  % Mattel, Inc. -144A- (MTN) 2017/2025 ..........  | USD | 435 000 |  | 650 000 | % | 103,875 | 451 856,25 | 0,29 |
| 6,50  % MEG Energy Corp. -144A- (MTN) 2017/2025 ....  | USD | 72 000 |  | 14 000 | % | 93,038 | 66 987,36 | 0,04 |
| 7,125 % MEG Energy Corp. -144A- (MTN) 2020/2027 ....  | USD | 315 000 | 315 000 |  | % | 83,376 | 262 634,40 | 0,17 |
| 5,50  % Mercer International, Inc. (MTN) 2018/2026 .....  | USD | 65 000 |  |  | % | 94,127 | 61 182,55 | 0,04 |
| 7,375 % Mercer International, Inc. (MTN) 2019/2025 .....  | USD | 655 000 |  | 600 000 | % | 100,289 | 656 892,95 | 0,42 |
| 6,25  % Meritor, Inc. -144A- (MTN) 2020/2025 ..........  | USD | 140 000 | 140 000 |  | % | 101,502 | 142 103,50 | 0,09 |
| 4,50  % MGM Growth Properties Operating Partnership |  |  |  |  |  |  |  |  |
| LP / MGP Finance Co-Issuer Inc (MTN) 2018/2028 | USD | 500 000 |  |  | % | 97,489 | 487 445,00 | 0,31 |
| 4,625 % MGM Growth Properties Operating Partnership |  |  |  |  |  |  |  |  |
| LP Via MGP Finance Co-Issuer, Inc. -144A- |  |  |  |  |  |  |  |
| (MTN) 2020/2025 ..........................  | USD | 803 000 | 803 000 | % | 99,693 | 800 534,79 | 0,52 |
| 4,25  % Microchip Technology, Inc. -144A- (MTN) |  |  |  |  |  |  |  |  |
| 2020/2025 ...............................  | USD | 440 000 | 440 000 | % | 100,501 | 442 204,40 | 0,29 |
| 6,50 % Mileage Plus Holdings LLC Via Mileage Plus |  |  |  |  |  |  |  |  |
| Intellectual Property Assets Ltd -144A- (MTN) |  |  |  |  |  |  |  |  |
| 2020/2027 ...............................  | USD | 240 000 | 240 000 |  | % | 100,345 | 240 828,00 | 0,15 |
| 4,375 % Molina Healthcare, Inc. -144A- (MTN) 2020/2028 . | USD | 325 000 | 325 000 |  | % | 100,447 | 326 452,75 | 0,21 |
| 4,25  % Moog, Inc. -144A- (MTN) 2019/2027 ...........  | USD | 585 000 |  |  | % | 97,649 | 571 246,65 | 0,37 |
| 6,25  % MPLX LP 2020/2022 .......................  | USD | 9 000 | 9 000 |  | % | 101,498 | 9 134,82 | 0,01 |
| 5,75  % MTS Systems Corp. -144A- (MTN) 2019/2027 ...  | USD | 100 000 |  |  | % | 92,78 | 92 780,50 | 0,06 |
| 5,50  % Navient Corp. (MTN) 2013/2023 ..............  | USD | 705 000 |  |  | % | 96,439 | 679 894,95 | 0,44 |
| 9,50 % Navistar International Corp. -144A- (MTN) |  |  |  |  |  |  |  |  |
| 2020/2025 ...............................  | USD | 290 000 | 290 000 |  | % | 107,71 | 312 360,45 | 0,20 |
| 3,625 % NCL Corp., Ltd -144A- (MTN) 2019/2024 ........  | USD | 960 000 |  | 170 000 | % | 61,71 | 592 420,80 | 0,38 |
| 4,875 % Netflix, Inc. 2017/2028 ......................  | USD | 800 000 |  | 300 000 | % | 106,69 | 853 520,00 | 0,55 |
| 4,875 % Newell Brands, Inc. (MTN) 2020/2025 ..........  | USD | 310 000 | 310 000 |  | % | 104,7 | 324 568,45 | 0,21 |
| 4,25  % NextEra Energy Operating Partners LP -144A- |  |  |  |  |  |  |  |  |
| (MTN) 2019/2024 ..........................  | USD | 1 050 000 | 1 050 000 |  | % | 100,78 | 1 058 195,25 | 0,68 |
| 5,875 % Novelis Corp. -144A- (MTN) 2016/2026 .........  | USD | 630 000 |  |  | % | 100 | 630 000,00 | 0,41 |
| 4,75  % Novelis Corp. -144A- (MTN) 2020/2030 .........  | USD | 970 000 | 970 000 |  | % | 95,664 | 927 945,65 | 0,60 |
| 5,25  % NRG Energy, Inc. -144A- (MTN) 2019/2029 ......  | USD | 660 000 | 385 000 |  | % | 105,442 | 695 913,90 | 0,45 |
| 5,55  % Occidental Petroleum Corp. (MTN) 2019/2026 ...  | USD | 320 000 | 320 000 |  | % | 90,764 | 290 446,40 | 0,19 |
| 8,00  % Occidental Petroleum Corp. (MTN) 2020/2025 ...  | USD | 520 000 | 520 000 |  | % | 100,192 | 520 998,40 | 0,34 |
| 8,875 % Occidental Petroleum Corp. (MTN) 2020/2030 ...  | USD | 230 000 | 230 000 |  | % | 100,142 | 230 326,60 | 0,15 |
| 4,125 % Open Text Holdings, Inc. -144A- (MTN) 2020/2030 | USD | 155 000 | 155 000 |  | % | 98,324 | 152 402,98 | 0,10 |
| 5,00  % Outfront Media Capital LLC Via Outfront Media |  |  |  |  |  |  |  |  |
| Capital Corp. -144A- (MTN) 2019/2027 .........  | USD | 530 000 |  |  | % | 90,613 | 480 248,90 | 0,31 |
| 7,50  % Park Intermediate Holdings LLC Via PK Domestic |  |  |  |  |  |  |  |  |
| Property LLC Via PK Finance Co-Issuer -144A- |  |  |  |  |  |  |  |
| (MTN) 2020/2025 ..........................  | USD | 385 000 | 385 000 | % | 102,641 | 395 168,81 | 0,25 |
| 5,25  % Parsley Energy LLC Via Parsley Finance Corp. |  |  |  |  |  |  |  |  |
| -144A- (MTN) 2017/2025 ....................  | USD | 20 000 | 310 000 | % | 95,708 | 19 141,70 | 0,01 |
| 4,125 % Parsley Energy LLC Via Parsley Finance Corp. |  |  |  |  |  |  |  |  |
| -144A- (MTN) 2020/2028 ....................  | USD | 150 000 | 150 000 | % | 90,577 | 135 865,50 | 0,09 |
| 9,25  % PBF Holding Co. LLC Via PBF Finance Corp. |  |  |  |  |  |  |  |  |
| -144A- (MTN) 2020/2025 ....................  | USD | 105 000 | 105 000 | % | 106,828 | 112 169,93 | 0,07 |
| 6,00  % PBF Holding Co., LLC Via PBF Finance Corp. |  |  |  |  |  |  |  |  |
| -144A- (MTN) 2020/2028 ....................  | USD | 225 000 | 225 000 |  | % | 82,866 | 186 447,38 | 0,12 |
| 7,125 % PetSmart, Inc. -144A- (MTN) 2015/2023 ........  | USD | 305 000 | 320 000 | 795 000 | % | 98,612 | 300 768,13 | 0,19 |
| 8,875 % PetSmart, Inc. -144A- (MTN) 2017/2025 ........  | USD | 300 000 |  |  | % | 100,224 | 300 670,50 | 0,19 |
| 6,125 % Picasso Finance Sub, Inc. -144A- (MTN) 2020/2025 | USD | 410 000 | 410 000 |  | % | 102,089 | 418 564,90 | 0,27 |
| 5,875 % Pilgrim‘s Pride Corp. -144A- (MTN) 2017/2027 ...  | USD | 575 000 | 575 000 |  | % | 99,804 | 573 873,00 | 0,37 |
| 5,00  % Post Holdings, Inc. -144A- (MTN) 2016/2026 ....  | USD | 465 000 | 465 000 |  | % | 100,408 | 466 897,20 | 0,30 |
| 5,50  % Post Holdings, Inc. -144A- (MTN) 2019/2029 ....  | USD | 345 000 |  |  | % | 103,61 | 357 454,50 | 0,23 |
| 4,875 % Presidio Holdings, Inc. -144A- (MTN) 2020/2027 ..  | USD | 70 000 | 70 000 |  | % | 97,908 | 68 535,60 | 0,04 |
| 8,25  % Presidio Holdings, Inc. -144A- (MTN) 2020/2028 ..  | USD | 110 000 | 110 000 |  | % | 100,068 | 110 074,80 | 0,07 |
| 5,125 % Prestige Brands, Inc. -144A- (MTN) 2019/2028 ...  | USD | 260 000 |  |  | % | 100,712 | 261 852,50 | 0,17 |
| 6,25 % Prime Security Services Borrower LLC Via Prime |  |  |  |  |  |  |  |  |
| Finance, Inc. -144A- (MTN) 2020/2028 .........  | USD | 475 000 | 475 000 |  | % | 94,713 | 449 886,75 | 0,29 |
| 7,625 % Realogy Group LLC Via Realogy Co-Issuer Corp. |  |  |  |  |  |  |  |  |
| -144A- (MTN) 2020/2025 ....................  | USD | 645 000 | 645 000 | % | 100,185 | 646 193,25 | 0,42 |
| 9,75  % RegionalCare Hospital Partners Holdings, Inc. |  |  |  |  |  |  |  |
| Via LifePoint Health, Inc. -144A- (MTN) 2018/2026 | USD | 175 000 | 175 000 | % | 103,286 | 180 750,50 | 0,12 |

| Wertpapierbezeichnung | Stück bzw. Anteile bzw. | Nominalbetrag bzw. | Käufe/ Zugänge | Verkäufe/ Abgänge | Kurs | Kurswert in | %-Anteil am Fonds- |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Währung	Bestand	im Berichtszeitraum	USD	vermögen |
| 5,125 % Reynolds Group Issuer, Inc. Via Reynolds Group Issuer LLC Via Reynolds Group Issuer Lu -144A- (MTN) 2016/2023 ..........................  | USD | 1 150 000 | 1 150 000 | % | 100,223 | 1 152 564,50 | 0,74 |
| 7,00  % Reynolds Group Issuer, Inc. Via Reynolds Group |  |  |  |  |  |  |  |
| Issuer LLC Via Reynolds Group Issuer Lu -144A- (MTN) 2016/2024 ..........................  | USD | 165 000 | % | 100,532 | 165 878,63 | 0,11 |
| 11,50 % Royal Caribbean Cruises Ltd -144A- (MTN) 2020/2025 ...............................  | USD | 145 000 | 335 000 | 190 000 | % | 103,31 | 149 800,23 | 0,10 |
| 10,875 % Royal Caribbean Cruises Ltd -144A- 2020/2023 ..  | USD | 150 000 | 340 000 | 190 000 | % | 101,626 | 152 438,25 | 0,10 |
| 4,25 % Royal Caribbean Cruises Ltd 2020/2023 ........ 4,75 % Ryman Hospitality Properties, Inc. -144A- (MTN) 2019/2027 ...............................  | USD USD | 209 000 15 000 | 209 000 |  | % % | 89,452 89,092 | 186 953,64 13 363,80 | 0,12 0,01 |
| 5,75  % Sable International Finance Ltd -144A- (MTN) |  |  |  |  |  |  |  |  |
| 2019/2027 ...............................  | USD | 535 000 | 335 000 | % | 102,532 | 548 543,53 | 0,35 |
| 9,25  % Sabre GLBL, Inc. -144A- (MTN) 2020/2025 ......  4,875 % Science Applications International Corp. -144A- (MTN) 2020/2028 ..........................  | USD USD | 20 000 100 000 | 20 000 100 000 | % % | 105,376 99,564 | 21 075,10 99 563,50 | 0,01 0,06 |
| 8,625 % Scientific Games International, Inc. -144A- (MTN) |  |  |  |  |  |  |  |  |
|  | 2020/2025 ...............................  | USD | 310 000 | 310 000 |  | % | 94,51 | 292 982,55 | 0,19 |
| 6,25 | % Select Medical Corp. -144A- (MTN) 2019/2026 ...  | USD | 970 000 |  |  | % | 100,866 | 978 405,05 | 0,63 |
| 7,50 | % Service Properties Trust (MTN) 2020/2025 ......  | USD | 575 000 | 575 000 |  | % | 104,949 | 603 456,75 | 0,39 |
| 8,25 | % Shelf Drilling Holdings Ltd -144A- (MTN) 2018/2025 | USD | 225 000 | 280 000 | 315 000 | % | 50,312 | 113 200,88 | 0,07 |
| 5,00 | % Spectrum Brands, Inc. -144A- (MTN) 2019/2029 ..  | USD | 100 000 |  |  | % | 98,878 | 98 878,00 | 0,06 |
| 7,50 | % Spirit AeroSystems, Inc. -144A- (MTN) 2020/2025 | USD | 154 000 | 464 000 | 310 000 | % | 99,3 | 152 922,77 | 0,10 |
| 7,625 | % Sprint Corp. (MTN) 2018/2026 ................  | USD | 686 000 | 575 000 | 134 000 | % | 118,25 | 811 191,57 | 0,52 |
| 5,50 | % SS&C Technologies, Inc. -144A- (MTN) 2019/2027 | USD | 85 000 |  |  | % | 102,29 | 86 946,08 | 0,06 |
| 5,00 | % Standard Industries, Inc./NJ -144A- (MTN) 2017/2027 ...............................  | USD | 255 000 | 255 000 |  | % | 102,206 | 260 625,30 | 0,17 |
| 7,50 | % Staples, Inc. -144A- (MTN) 2019/2026 ..........  | USD | 780 000 |  |  | % | 79,248 | 618 134,40 | 0,40 |
| 10,75 | % Staples, Inc. -144A- (MTN) 2019/2027 ..........  | USD | 270 000 |  | 260 000 | % | 59,038 | 159 401,25 | 0,10 |
| 7,00 | % Stars Group Holdings BV Via Stars Group US Co-Borrower LLC -144A- (MTN) 2018/2026 ......  | USD | 480 000 |  |  | % | 105,46 | 506 210,40 | 0,33 |
| 5,50 | % Sunoco LP Via Sunoco Finance Corp. (MTN) |  |  |  |  |  |  |  |  |
| 2018/2026 ...............................  | USD | 60 000 | 60 000 | % | 97,282 | 58 369,50 | 0,04 |
| 5,875 | % Sunoco LP Via Sunoco Finance Corp. (MTN) |  |  |  |  |  |  |  |  |
| 2018/2028 ...............................  | USD | 170 000 | 500 000 | % | 99,804 | 169 666,80 | 0,11 |
| 6,00 | % Sunoco LP Via Sunoco Finance Corp. (MTN) |  |  |  |  |  |  |  |  |
| 2019/2027 ...............................  | USD | 50 000 |  |  | % | 100,316 | 50 158,00 | 0,03 |
| 7,25  % Talen Energy Supply LLC -144A- (MTN) 2019/2027 | USD | 695 000 |  |  | % | 100,661 | 699 593,95 | 0,45 |
| 7,625 % Talen Energy Supply LLC -144A- (MTN) 2020/2028 5,00 % Targa Resources Partners LP / Targa Resources Partners Finance Corp. 2017/2028 .............  | USD USD | 260 000 1 000 000 | 260 000 | 970 000 | % % | 100,751 94,152 | 261 952,60 941 520,00 | 0,17 0,61 |
| 5,50 % Targa Resources Partners LP Via Targa Resources Partners Finance Corp. -144A- 2019/2030 .......  | USD | 375 000 |  |  | % | 96,354 | 361 327,50 | 0,23 |
| 5,75 | % Taylor Morrison Communities, Inc. -144A- (MTN) |  |  |  |  |  |  |  |  |
| 2019/2028 ...............................  | USD | 555 000 |  |  | % | 103,871 | 576 484,05 | 0,37 |
| 6,375 % Telecom Italia Capital SA 2004/2033 ........... 5,50 % Telenet Finance Luxembourg Notes Sarl -144A- 2017/2028 ...............................  | USD USD | 1 600 000 600 000 |  | 200 000 | % % | 113,082 104,608 | 1 809 304,00 627 645,00 | 1,17 0,40 |
| 5,125 % Tenet Healthcare Corp. -144A- (MTN) 2019/2027 . | USD | 730 000 |  |  | % | 98,814 | 721 345,85 | 0,47 |
| 7,50  % Tenet Healthcare Corp. -144A- (MTN) 2020/2025 . | USD | 570 000 | 570 000 |  | % | 106,134 | 604 960,95 | 0,39 |
| 4,625 % Tenet Healthcare Corp. -144A- (MTN) 2020/2028 . | USD | 205 000 | 205 000 |  | % | 97,288 | 199 440,40 | 0,13 |
| 5,625 % Tennant Co. (MTN) 2018/2025 ................  | USD | 10 000 |  |  | % | 101,18 | 10 118,05 | 0,01 |
| 4,75  % TerraForm Power Operating LLC -144A- 2019/2030 | USD | 215 000 |  | 1 915 000 | % | 102,066 | 219 440,83 | 0,14 |
| 5,30 % Tesla, Inc. -144A- (MTN) 2017/2025 ...........  6,00 % Teva Pharmaceutical Finance Netherlands III BV (MTN) 2018/2024 ..........................  | USD USD | 910 000 1 100 000 | 480 000 1 100 000 |  | % % | 99,623 102,62 | 906 569,30 1 128 825,50 | 0,58 0,73 |
| 7,125 | % Teva Pharmaceutical Finance Netherlands III BV |  |  |  |  |  |  |  |  |
| -144A- (MTN) 2019/2025 ....................  | USD | 245 000 | 245 000 | 200 000 | % | 106,444 | 260 787,80 | 0,17 |
| 6,375 % T-Mobile USA, Inc. 2014/2025 ................  | USD | 340 000 | 340 000 |  | % | 102,89 | 349 827,70 | 0,23 |
| 6,25 % TransDigm, Inc. -144A- (MTN) 2019/2026 .......  | USD | 875 000 | 20 000 | 320 000 | % | 99,712 | 872 475,63 | 0,56 |
| 6,875 % Transocean Poseidon Ltd -144A- (MTN) 2019/2027 | USD | 290 000 | 240 000 |  | % | 88,63 | 257 025,55 | 0,17 |
| 5,375 % Transocean Sentry Ltd -144A- 2019/2023 .......  | USD | 50 000 |  |  | % | 85,319 | 42 659,50 | 0,03 |
| 6,25 % Triumph Group, Inc. -144A- (MTN) 2019/2024 ....  | USD | 218 000 |  |  | % | 85,124 | 185 571,41 | 0,12 |
| 5,75  % Tronox Finance PLC -144A- (MTN) 2017/2025 ...  | USD | 935 000 |  | 500 000 | % | 92,546 | 865 305,10 | 0,56 |
| 6,50 % Tronox, Inc. -144A- (MTN) 2018/2026 ..........  | USD | 808 000 | 100 000 |  | % | 93,68 | 756 938,44 | 0,49 |
| 7,50  % Uber Technologies, Inc. -144A- (MTN) 2019/2027 . | USD | 170 000 | 170 000 |  | % | 99,906 | 169 839,35 | 0,11 |
| 7,50  % Uber Technologies, Inc. -144A- (MTN) 2020/2025 . | USD | 420 000 | 840 000 | 420 000 | % | 100,648 | 422 721,60 | 0,27 |
| 12,00 % United States Steel Corp. -144A- (MTN) 2020/2025 7,875 % Uniti Group LP Via Uniti Fiber Holdings, Inc. Via CSL Capital LLC -144A- (MTN) 2020/2025 .......  | USD USD | 120 000 165 000 | 120 000 315 000 | 150 000 | % % | 102,614 101,742 | 123 136,80 167 873,48 | 0,08 0,11 |
| 6,00 | % Uniti Group LP Via Uniti Group Finance, Inc. Via |  |  |  |  |  |  |  |  |
| CSL Capital LLC -144A- (MTN) 2015/2023 .......  | USD | 435 000 | 435 000 | % | 98,278 | 427 511,48 | 0,28 |
| 5,125 | % Univar Solutions USA, Inc. -144A- (MTN) |  |  |  |  |  |  |  |  |
| 2019/2027 ...............................  | USD | 530 000 | 250 000 | % | 101,127 | 535 973,10 | 0,35 |
| 6,875 | % USA Compression Partners LP Via USA |  |  |  |  |  |  |  |  |
| Compression Finance Corp. (MTN) 2019/2026 ...  | USD | 535 000 |  | % | 98,346 | 526 151,10 | 0,34 |
| 6,25  % Vail Resorts, Inc. -144A- (MTN) 2020/2025 ......  | USD | 295 000 | 295 000 | % | 104,744 | 308 994,80 | 0,20 |
| 5,625 % ViaSat, Inc. -144A- (MTN) 2017/2025 ...........  | USD | 450 000 | 400 000 | % | 97,328 | 437 973,75 | 0,28 |
| 5,625 % ViaSat, Inc. -144A- (MTN) 2019/2027 ...........  | USD | 120 000 |  | % | 102,634 | 123 160,80 | 0,08 |
| 6,50 % ViaSat, Inc. -144A- (MTN) 2020/2028 ...........  4,625 % VICI Properties LP Via VICI Note Co., Inc. -144A- (MTN) 2019/2029 ..........................  | USD USD | 315 000 64 000 | 315 000 | % % | 100,341 98,184 | 316 074,15 62 837,76 | 0,20 0,04 |

| Wertpapierbezeichnung | Stück bzw. Anteile bzw. | Nominalbetrag bzw. | Käufe/ Zugänge | Verkäufe/ Abgänge | Kurs | Kurswert in | %-Anteil am Fonds- |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Währung	Bestand	im Berichtszeitraum	USD	vermögen |
| 3,75 % VICI Properties LP Via VICI Note Co., Inc. -144A- (MTN) 2020/2027 ..........................  | USD | 100 000 | 100 000 | % | 93,981 | 93 981,00 | 0,06 |
| 4,125 % VICI Properties LP Via VICI Note Co., Inc. -144A- |  |  |  |  |  |  |  |
| (MTN) 2020/2030 ..........................  | USD | 70 000 | 70 000 |  | % | 95,259 | 66 681,30 | 0,04 |
| 5,125 % Videotron Ltd -144A- (MTN) 2017/2027 .........  | USD | 800 000 | 800 000 |  | % | 104,322 | 834 576,00 | 0,54 |
| 5,875 % Viking Cruises Ltd -144A- (MTN) 2017/2027 .....  | USD | 400 000 |  |  | % | 59,863 | 239 452,00 | 0,15 |
| 5,00 % Virgin Media Finance PLC -144A- (MTN) 2020/2030 5,50 % Virgin Media Secured Finance PLC -144A- (MTN) 2016/2026 ...............................  | USD USD | 337 000 405 000 | 337 000 | 1 030 000 | % % | 97,193 102,706 | 327 540,41 415 957,28 | 0,21 0,27 |
| 4,30 % Vistra Operations Co. LLC -144A- (MTN) 2019/2029 | USD | 25 000 | 25 000 |  | % | 105,424 | 26 356,13 | 0,02 |
| 5,50 % Vistra Operations Co., LLC -144A- (MTN) 2018/2026 | USD | 440 000 | 900 000 | 990 000 | % | 102,519 | 451 083,60 | 0,29 |
| 5,625 % Vistra Operations Co., LLC -144A- (MTN) 2019/2027 | USD | 175 000 |  | 300 000 | % | 102,67 | 179 671,63 | 0,12 |
| 5,00  % VOC Escrow Ltd -144A- (MTN) 2018/2028 ......  | USD | 340 000 |  | 300 000 | % | 75,984 | 258 345,60 | 0,17 |
| 7,00  % Vodafone Group PLC 2019/2079 * ............  | USD | 685 000 | 685 000 |  | % | 116,39 | 797 268,08 | 0,51 |
| 6,125 % VRX Escrow Corp. -144A- (MTN) 2015/2025 .....  | USD | 700 000 |  |  | % | 100,41 | 702 873,50 | 0,45 |
| 5,125 % VTR Comunicaciones SpA -144A- (MTN) 2020/2028 | USD | 237 000 | 237 000 |  | % | 102,128 | 242 042,18 | 0,16 |
| 6,375 % VTR Finance NV -144A- (MTN) 2020/2028 .......  | USD | 222 000 | 222 000 |  | % | 103,08 | 228 837,60 | 0,15 |
| 7,125 % WESCO Distribution, Inc. -144A- (MTN) 2020/2025 | USD | 130 000 | 130 000 |  | % | 105,344 | 136 947,20 | 0,09 |
| 7,25  % WESCO Distribution, Inc. -144A- (MTN) 2020/2028 | USD | 360 000 | 360 000 |  | % | 106,116 | 382 019,40 | 0,25 |
| 5,50 % William Carter Co./The -144A- (MTN) 2020/2025 . . 6,375 % Wolverine World Wide, Inc. -144A- (MTN) 2020/2025 ...............................  | USD USD | 170 000 450 000 | 170 000 450 000 |  | % % | 103,464 105,184 | 175 888,80 473 328,00 | 0,11 0,31 |
| 5,50  % Wynn Las Vegas LLC Via Wynn Las Vegas Capital Corp. -144A- (MTN) 2015/2025 ...............  | USD | 545 000 |  | 550 000 | % | 92,084 | 501 860,53 | 0,32 |
| 7,75 % Wynn Resorts Finance LLC Via Wynn Resorts Capital Corp. -144A- (MTN) 2020/2025 .........  | USD | 60 000 | 60 000 |  | % | 101,489 | 60 893,40 | 0,04 |
| 6,25  % XPO Logistics, Inc. -144A- (MTN) 2020/2025 ....  | USD | 250 000 | 250 000 |  | % | 104,852 | 262 130,00 | 0,17 |
| 7,75  % Yum! Brands, Inc. -144A- (MTN) 2020/2025 .....  | USD | 40 000 | 40 000 |  | % | 108,5 | 43 400,00 | 0,03 |
| 5,50  % Ziggo Secured Finance BV -144A- 2016/2027 ....  | USD | 270 000 |  | 30 000 | % | 101,21 | 273 265,65 | 0,18 |
| Nichtnotierte Wertpapiere |  |  |  |  |  |  | 2 794 442,58 | 1,80 |
| Verzinsliche Wertpapiere 8,00  % Altice France Holding SA -144A- (MTN) 2020/2027 | EUR | 350 000 | 350 000 |  | % | 105,85 | 415 211,65 | 0,27 |
| 4,375 % Panther BF Aggregator 2 LP Via Panther Finance Co., Inc. -Reg- (MTN) 2019/2026 ..............  | EUR | 1 655 000 |  |  | % | 99,332 | 1 842 450,18 | 1,19 |
| 5,375 % Parsley Energy LLC Via Parsley Finance Corp. |  |  |  |  |  |  |  |  |  |
| -144A- (MTN) 2016/2025 ....................  | USD | 550 000 | % | 97,596 | 536 780,75 | 0,34 |

Summe Wertpapiervermögen	151 348 307,19	97,74
Derivate
(Bei den mit Minus gekennzeichneten Beständen handelt es sich um verkaufte Positionen)
| Devisen-Derivate Forderungen/Verbindlichkeiten |  |  | -19 237,63 | -0,01 |
| --- | --- | --- | --- | --- |
| Devisentermingeschäfte |  |  |  |  |
| Devisentermingeschäfte (Kauf) |  |  |  |  |
| Offene Positionen CHF/USD 44,4 Mio. ................................  |  |  | -33 689,18 | -0,02 |
| GBP/USD 0.01 Mio. ................................  |  |  | -217,25 | 0,00 |
| Devisentermingeschäfte (Verkauf) |  |  |  |  |
| Offene Positionen USD/EUR 11,2 Mio.  ...............................  |  |  | 19 307,37 | 0,01 |
| Geschlossene Positionen USD/EUR 19,6 Mio.  ...............................  |  |  | -4 638,57 | 0,00 |
| Bankguthaben |  |  | 3 944 478,85 | 2,55 |
| Verwahrstelle (täglich fällig) EUR-Guthaben ....................................  | EUR | 8 923 | 10 000,10 | 0,01 |
| Guthaben in sonstigen EU/EWR-Währungen |  |  |  |  |
| Britisches Pfund ...................................  | GBP | 6 | 6,97 | 0,00 |
| Guthaben in Nicht-EU/EWR-Währungen |  |  |  |  |
| Schweizer Franken .................................  | CHF | 9 326 | 9 816,26 | 0,01 |
| US-Dollar .........................................  | USD |  | 3 924 655,52 | 2,53 |
| Sonstige Vermögensgegenstände |  |  | 3 598 504,79 | 2,33 |
| Zinsansprüche ....................................  |  |  | 2 268 773,97 | 1,47 |
| Forderungen aus der Überschreitung des „Expense Cap“ ..  |  |  | 213 001,10 | 0,14 |
| Sonstige Ansprüche ................................  |  |  | 1 116 729,72 | 0,72 |
| Summe der Vermögensgegenstände ** |  |  | 158 910 598,20 | 102,63 |

| Wertpapierbezeichnung | Stück bzw. Anteile bzw. | Nominalbetrag bzw. | Käufe/ Zugänge | Verkäufe/ Abgänge | Kurs | Kurswert in | %-Anteil am Fonds- |
| --- | --- | --- | --- | --- | --- | --- | --- |
|  | Währung | Bestand | im Berichtszeitraum | USD | vermögen |
| Sonstige Verbindlichkeiten |  |  |  | -4 028 240,39 | -2,60 |
| Andere sonstige Verbindlichkeiten .....................  |  |  |  | -4 028 240,39 | -2,60 |
| Summe der Verbindlichkeiten |  |  |  | -4 066 785,39 | -2,63 |

Fondsvermögen	154 843 812,81	100,00
Durch Rundung der Prozentanteile bei der Berechnung können geringfügige Rundungsdifferenzen entstanden sein.
Eine Aufstellung über die während des Berichtszeitraums abgeschlossenen Geschäfte, soweit sie nicht mehr in der Vermögensaufstellung erscheinen, ist auf Anforderung kostenlos bei der Verwaltungsgesellschaft erhältlich.
| Anteilwert bzw. umlaufende Anteile | Stück bzw. Währung | Anteilwert in der jeweiligen Währung |
| --- | --- | --- |
| Anteilwert Klasse CHF ICH50 .................................  | CHF | 95,79 |
| Klasse CHF XCH ...................................  | CHF | 104,92 |
| Klasse FCH .......................................  | EUR | 104,25 |
| Klasse ICH .......................................  | EUR | 95,63 |
| Klasse TFCH ......................................  | EUR | 99,80 |
| Klasse XCH .......................................  | EUR | 106,09 |
| Klasse GBP TFDQH ................................  | GBP | 92,52 |
| Klasse USD FC ....................................  | USD | 114,80 |
| Klasse USD IC ....................................  | USD | 98,50 |
| Klasse USD IC50 ..................................  | USD | 98,60 |
| Klasse USD LD ....................................  | USD | 100,17 |
| Klasse USD TFC ...................................  | USD | 106,80 |
| Klasse USD XC ....................................  | USD | 116,61 |
| Umlaufende Anteile Klasse CHF ICH50 .................................  | Stück | 110,000 |
| Klasse CHF XCH ...................................  | Stück | 414 176,137 |
| Klasse FCH .......................................  | Stück | 100,000 |
| Klasse ICH .......................................  | Stück | 9 978,000 |
| Klasse TFCH ......................................  | Stück | 304,000 |
| Klasse XCH .......................................  | Stück | 103,000 |
| Klasse GBP TFDQH ................................  | Stück | 85,000 |
| Klasse USD FC ....................................  | Stück | 127 320,000 |
| Klasse USD IC ....................................  | Stück | 228,000 |
| Klasse USD IC50 ..................................  | Stück | 66 731,000 |
| Klasse USD LD ....................................  | Stück | 8 778,231 |
| Klasse USD TFC ...................................  | Stück | 24,000 |
| Klasse USD XC ....................................  | Stück | 736 238,200 |

Zusammensetzung des Referenzportfolios (gem. CSSF-Rundschreiben 11/512) ICE BofAML Global High Yield Constrained (HW0C) 100% USD Hedged Index
Potenzieller Risikobetrag für das Marktrisiko (gem. CSSF-Rundschreiben 11/512)
| kleinster potenzieller Risikobetrag .....................  | % | 79,529 |
| --- | --- | --- |
| größter potenzieller Risikobetrag ......................  | % | 135,529 |
| durchschnittlicher potenzieller Risikobetrag ..............  | % | 104,239 |

Die Risikokennzahlen wurden für den Zeitraum vom 1.1.2020 bis 30.6.2020 auf Basis der Methode der historischen Simulation mit den Parametern 99% Konfidenzniveau, 10 Tage Haltedauer unter Verwendung eines effektiven, historischen Beobachtungszeitraumes von einem Jahr berechnet. Als Bewertungsmaßstab wird das Risiko eines derivatefreien Vergleichsvermögens herangezogen. Unter dem Marktrisiko versteht man das Risiko, das sich aus der ungünstigsten Entwicklung von Marktpreisen für das Fondsvermögen ergibt. Bei der Ermittlung des Marktrisikopotenzials wendet die Gesellschaft den relativen Value at Risk-Ansatzim Sinne des CSSF-Rundschreibens 11/512 an.
Die durchschnittliche Hebelwirkung aus der Nutzung von Derivaten betrug im Berichtszeitraum 0,1, wobei zur Berechnung die Summe der Nominalbeträge der Derivate in Relation zum Fondsvermögen gesetzt wurde (Nominalwertmethode).
Das durch Derivate erzielte zugrundeliegende Exposure gem. Punkt 40 a) der „Leitlinien zu börsengehandelten Indexfonds und anderen OGAW-Themen“ der European Securities and Markets Authority (ESMA) belief sich zum Berichtsstichtag unter Zugrundelegung einer Bruttobetrachtung auf USD 13 845 796,96. Ohne Berücksichtigung gegebenenfalls auf Ebene von Anteilklassen zum Zwecke der Währungsabsicherung abgeschlossener Devisentermingeschäfte.
 Marktschlüssel	 Vertragspartner der Devisentermingeschäfte
BNP Paribas SA, Bofa Securities Europe, Citigroup Global Markets Limited, Goldman Sachs International, Royal Bank of Canada (UK), State Street Bank London und UBS AG
 Devisenkurse (in Mengennotiz)	
per 30.6.2020
| Schweizer Franken	CHF | 0,950050 | = USD | 1 |
| --- | --- | --- | --- |
| Euro	EUR | 0,892260 | = USD | 1 |
| Britisches Pfund	GBP | 0,813008 | = USD | 1 |

 Erläuterungen zur Bewertung	
Die Anteilwerte werden in Verantwortung des Verwaltungsrats der SICAV durch die Verwaltungsgesellschaft ermittelt sowie die Bewertung der Vermögenswerte des Fondsvermögens durchgeführt. Die grundsätzliche Kursversorgung sowie die Preisvalidierung erfolgen nach den vom Verwaltungsrat der SICAV auf der Grundlage der in den gesetzlichen Bestimmungen/ Verordnungen bzw. im Prospekt der SICAV definierten Grundsätze für Bewertungsmethoden eingeführten Verfahren.
Sofern keine handelbaren Kurse vorliegen, werden Bewertungsmodelle zur Preisermittlung (abgeleitete Verkehrswerte) genutzt, die zwischen State Street Bank International GmbH, Luxembourg Branch, als externem Price Service Provider und der Verwaltungsgesellschaft abgestimmt sind und sich so weit als möglich auf Marktparameter stützen. Diese Vorgehensweise unterliegt einem permanenten Kontrollprozess. Preisauskünfte Dritter werden durch andere Preisquellen, modellhafte Rechnungen oder durch andere geeignete Verfahren auf Plausibilität geprüft.
Die in diesem Bericht ausgewiesenen Vermögenswerte werden nicht zu abgeleiteten Verkehrswerten bewertet.
 Fußnoten	
* Variabler Zinssatz.
** Beinhaltet, sofern vorhanden, keine Positionen mit negativem Bestand.