| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | 219,537,000 | $259.3M | Add +19.8% |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 225,295,000 | $228.3M | Add +2.8% |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 166,696,000 | $209.5M | Add +16.7% |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 186,400,000 | $182.2M | Add +8.8% |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/27) | NOTE 4.375% 6/0 · principal | 142,750,000 | $171.0M | Add +106.1% |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 128,071 | $164.0M | Add +7.2% |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 102,609,000 | $150.8M | Add +119.1% |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 36,775,000 | $118.0M | Add +65.1% |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 107,131,000 | $115.0M | Add +67.5% |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | 83,955,000 | $108.4M | Add +9.4% |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 92,966,000 | $93.6M | Add +1.1% |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | 88,891,000 | $92.2M | Add +4.4% |
| OKTA INC (OKTA 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | 89,330,000 | $86.7M | Add +93.0% |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | 81,563,000 | $85.7M | Add +1.2% |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 58,680,000 | $80.2M | Add +12.5% |
| DAYFORCE INC (DAY 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 78,727,000 | $77.0M | Add +9.0% |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 64,280,000 | $73.4M | Reduce -13.2% |
| UPWORK INC (UPWK 0.25 08/15/26) | NOTE 0.250% 8/1 · principal | 74,023,000 | $71.6M | Add +1.4% |
| WORLD KINECT GROUP (WKC 3.25 07/01/28) | NOTE 3.250% 7/0 · principal | 63,850,000 | $70.2M | Add +17.5% |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 67,625,000 | $67.7M | Add +30.6% |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 73,550,000 | $67.0M | Add +9.4% |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | 48,106,000 | $66.5M | Reduce -35.6% |
| SNOWFLAKE INC (SNOW 0 10/01/29) | NOTE 10/0 · principal | 41,176,000 | $64.5M | New |
| HAEMONETICS CORP (HAE 2.5 06/01/29) | NOTE 2.500% 6/0 · principal | 69,261,000 | $63.9M | Add +22.1% |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | 69,715,000 | $61.5M | Add +7.7% |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | 62,550,000 | $59.5M | Add +37.5% |
| EL PASO ENERGY CAP TRST (KMI 4.75 03/31/28) | PFD CV TR SEC 28 | 1,192,027 | $59.0M | Add +5.2% |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | 60,251,000 | $56.7M | Add +11.9% |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 61,371,000 | $56.6M | Add +33.9% |
| ANI PHARMACEUTICALS INC (ANIP 2.25 09/01/29) | NOTE 2.250% 9/0 · principal | 38,017,000 | $53.3M | New |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | NOTE 0.250% 5/1 · principal | 52,365,000 | $52.7M | Add +87.3% |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | 54,566,000 | $51.0M | Add +87.7% |
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | 46,501,000 | $50.2M | Reduce -2.2% |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | 35,208,000 | $49.5M | Reduce -48.2% |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | 40,576,000 | $44.4M | Reduce -12.8% |
| BLOCK INC (XYZ 0.25 11/01/27) | NOTE 0.250%11/0 · principal | 48,470,000 | $44.1M | Reduce -4.9% |
| BLOCK INC (XYZ 0 05/01/26) | NOTE 5/0 · principal | 44,359,000 | $43.1M | Reduce -0.6% |
| UNITY SOFTWARE INC (U 0 11/15/26) | NOTE 11/1 · principal | 44,877,000 | $42.7M | No change |
| CHEFS' WAREHOUSE THE (CHEF 2.375 12/15/28) | NOTE 2.375%12/1 · principal | 29,397,000 | $42.4M | Add +11.4% |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | 44,500,000 | $41.1M | Add +36.9% |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | 24,975,000 | $40.3M | Reduce -3.9% |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 38,000,000 | $39.9M | Add +171.4% |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | NOTE 1.750% 8/1 · principal | 42,216,000 | $39.8M | Add +23.7% |
| PINNACLE WEST CAPITAL (PNW 4.75 06/15/27) | NOTE 4.750% 6/1 · principal | 35,413,000 | $38.0M | Reduce -8.6% |
| RAPID7 INC (RPD 1.25 03/15/29) | NOTE 1.250% 3/1 · principal | 42,090,000 | $37.2M | Add +2.4% |
| INNOVIVA INC (INVA 2.125 03/15/28) | NOTE 2.125% 3/1 · principal | 38,052,000 | $36.9M | Add +45.8% |
| ITRON INC (ITRI 1.375 07/15/30) | NOTE 1.375% 7/1 · principal | 32,000,000 | $36.7M | Add +22.8% |
| IMMUNOCORE HOLDINGS (IMCR 2.5 02/01/30) | NOTE 2.500% 2/0 · principal | 39,500,000 | $35.6M | Add +75.6% |
| ZIFF DAVIS INC (ZD 3.625 03/01/28) | DEBT 3.625% 3/0 · principal | 36,701,000 | $35.4M | Add +12.2% |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 28,305 | $35.0M | Reduce -9.4% |
| MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) | NOTE 0.750% 6/0 · principal | 35,500,000 | $34.4M | Add +17.4% |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | 34,000,000 | $33.5M | New |
| AMPHASTAR PHARMACEUTICAL (AMPH 2 03/15/29) | NOTE 2.000% 3/1 · principal | 36,680,000 | $33.2M | Add +33.4% |
| XEROX HOLDINGS CORP (XRX 3.75 03/15/30) | NOTE 3.750% 3/1 · principal | 65,650,000 | $30.8M | Add +3.1% |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | 22,350,000 | $26.5M | Add +12.6% |
| LYFT INC (LYFT 0.625 03/01/29) | NOTE 0.625% 3/0 · principal | 20,000,000 | $25.8M | New |
| SHAKE SHACK INC (SHAK 0 03/01/28) | NOTE 3/0 · principal | 25,716,000 | $24.3M | Reduce -29.1% |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | 25,000,000 | $23.8M | Reduce -4.8% |
| BOX INC (BOX 1.5 09/15/29) | NOTE 1.500% 9/1 · principal | 23,500,000 | $23.6M | New |
| WINNEBAGO INDUSTRIES (WGO 3.25 01/15/30) | NOTE 3.250% 1/1 · principal | 24,548,000 | $21.9M | Add +25.6% |
| WORKIVA INC (WK 1.25 08/15/28) | NOTE 1.250% 8/1 · principal | 21,435,000 | $21.1M | Reduce -12.3% |
| JAZZ INVESTMENTS I LTD (JAZZ 3.125 09/15/30) | NOTE 3.125% 9/1 · principal | 17,500,000 | $20.8M | New |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | 22,605,000 | $20.5M | Reduce -7.8% |
| ALARM.COM HLDGS INC (ALRM 2.25 06/01/29) | NOTE 2.250% 6/0 · principal | 20,471,000 | $19.6M | Add +13.7% |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 20,500,000 | $19.2M | Add +8.0% |
| FIVE9 INC (FIVN 1 03/15/29) | NOTE 1.000% 3/1 · principal | 21,550,000 | $19.0M | Reduce -7.3% |
| PAGERDUTY INC. (PD 1.5 10/15/28 *) | NOTE 1.500%10/1 · principal | 19,129,000 | $18.7M | Reduce -62.6% |
| ENPHASE ENERGY INC (ENPH 0 03/01/28) | NOTE 3/0 · principal | 21,279,000 | $18.4M | Reduce -4.5% |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | 19,085,000 | $18.4M | Reduce -44.8% |
| PTC THERAPEUTICS INC (PTCT 1.5 09/15/26) | NOTE 1.500% 9/1 · principal | 12,500,000 | $16.0M | Reduce -16.7% |
| EVOLENT HEALTH INC | DEBT 4.500% 8/1 · principal | 15,500,000 | $15.5M | New |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | 11,000,000 | $15.2M | Add +52.9% |
| EPR PROPERTIES (EPR 5.75 PERP C) | PFD C CV 5.75% | 576,431 | $14.7M | Add +5.4% |
| AMC GLOBAL MEDIA INC (AMCX 4.25 02/15/29 *) | NOTE 4.250% 2/1 · principal | 13,600,000 | $13.0M | No change |
| TANDEM DIABETES CARE INC (TNDM 1.5 03/15/29 2024) | NOTE 1.500% 3/1 · principal | 14,000,000 | $12.2M | No change |
| EVOLENT HEALTH INC (EVH 3.5 12/01/29) | NOTE 3.500%12/0 · principal | 10,000,000 | $8.0M | New |
| LCI INDUSTRIES (LCII 1.125 05/15/26) | NOTE 1.125% 5/1 · principal | 7,500,000 | $7.2M | New |
| EPR PROPERTIES (EPR 9 PERP E) | CONV PFD 9% SR E | 197,382 | $6.3M | Add +11.3% |
| ALARM.COM HLDGS INC (ALRM 0 01/15/26) | NOTE 1/1 · principal | 4,623,000 | $4.5M | No change |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | 2,875,000 | $4.4M | Reduce -85.9% |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | 3,459,000 | $3.8M | Reduce -68.1% |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | 20,000 | $1.0M | No change |
| CORZW Core Scientific Inc. - 27 | *W EXP 01/23/202 · principal | 739,504 | $0 | Add +2.3% |