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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Apollo Tactical Income Fund Inc | NYSE:AIF | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 14.82 | 0 | 01:00:00 |
Apollo Tactical Income Fund Inc.
|
||||
Consolidated Schedule of Investments
|
||||
September 30, 2023 (unaudited)
|
||||
|
|
Principal
|
|
|
|
|
Amount ($)
|
|
Value ($)
|
Senior Loans - 112.6%(a)
|
||||
AEROSPACE & DEFENSE - 3.5%
|
||||
Peraton Corporation
|
||||
First Lien Term Loan B, (1M SOFR + 3.75%, 0.75% Floor), 9.17%, 02/01/28(c)
|
7,445,780
|
7,439,600
|
||
BANKING, FINANCE, INSURANCE & REAL ESTATE - 9.2%
|
||||
Asurion, LLC
|
||||
Second Lien Term Loan B4, (1M SOFR + 5.25%, 0.00% Floor), 10.68%, 01/20/29(c)
|
2,885,398
|
2,570,052
|
||
Higginbotham Insurance Agency, Inc.
|
||||
First Lien Delayed Draw Term Loan, (1M SOFR + 5.50%, 0.75% Floor), 10.92%, 11/25/26(c)(d)
|
250,181
|
250,181
|
||
First Lien Term Loan, (1M SOFR + 5.50%, 1.00% Floor), 10.92%, 11/24/28(c)(d)
|
858,116
|
858,116
|
||
Howden Group Holdings Ltd (United Kingdom)
|
||||
First Lien Term Loan, (1M SOFR + 5.25%, 0.75% Floor), 10.57%, 11/12/27(c)(d)(e)
|
7,000,000
|
7,000,000
|
||
Insight XI Aggregator, L.P. (Cayman Islands)
|
||||
First Lien Term Loan, (1M SOFR + 3.85%, 0.00% Floor), 9.17%, 08/28/24(c)(d)(e)
|
2,000,000
|
2,000,000
|
||
SG Acquisition, Inc.
|
||||
First Lien Incremental Term Loan, (1M SOFR + 6.00%, 0.50% Floor), 11.42%, 01/27/27(c)(d)
|
3,990,000
|
3,900,225
|
||
First Lien Term Loan, (1M SOFR + 6.00%, 0.50% Floor), 11.42%, 01/27/27(c)(d)
|
848,936
|
829,835
|
||
The Edelman Financial Center, LLC
|
||||
Second Lien Term Loan, (1M SOFR + 6.75%, 0.00% Floor), 12.18%, 07/20/26(c)
|
1,966,751
|
1,964,292
|
||
19,372,701
|
||||
BEVERAGE, FOOD & TOBACCO - 0.9%
|
||||
Ultimate Baked Goods Midco LLC
|
||||
First Lien Term Loan L, (1M SOFR + 6.25%, 1.00% Floor), 11.67%, 08/13/27(c)(d)
|
2,015,453
|
1,971,314
|
||
CAPITAL EQUIPMENT - 0.6%
|
||||
Safe Fleet Holdings, LLC
|
||||
Second Lien Term Loan, (1M SOFR + 6.75%, 1.00% Floor), 12.17%, 02/02/26(c)
|
1,403,846
|
1,364,945
|
||
CHEMICALS, PLASTICS, & RUBBER - 6.0%
|
||||
LSF11 A5 Holdco LLC
|
||||
First Lien Term Loan, (1M SOFR + 4.25%, 0.50% Floor), 9.67%, 10/15/28(c)
|
5,922,006
|
5,855,383
|
||
Luxembourg Investment Company 428 SARL (Luxembourg)
|
||||
First Lien Term Loan B, (3M SOFR + 5.00%, 0.50% Floor), 10.54%, 01/03/29(c)(e)
|
4,695,549
|
3,451,229
|
||
Olympus Water US Holding Corporation
|
||||
First Lien Incremental Term Loan, (3M SOFR + 5.00%, 0.50% Floor), 10.39%, 11/09/28(c)
|
1,909,000
|
1,910,193
|
||
W.R. Grace Holdings, LLC
|
||||
First Lien Term Loan B, (3M SOFR + 3.75%, 0.50% Floor), 9.40%, 09/22/28(c)
|
1,424,857
|
1,415,360
|
||
12,632,165
|
||||
CONSUMER GOODS: DURABLE - 0.7%
|
||||
Varsity Brands Holding Co., Inc.
|
||||
First Lien Term Loan, (1M SOFR + 5.00%, 1.00% Floor), 10.43%, 12/15/26(c)
|
498,744
|
489,185
|
||
Weber-Stephen Products LLC
|
||||
First Lien Term Loan, (1M SOFR + 3.25%, 0.75% Floor), 8.68%, 10/30/27(c)
|
975,555
|
883,077
|
||
1,372,262
|
||||
CONSUMER GOODS: NON-DURABLE - 3.2%
|
||||
ABG Intermediate Holdings 2 LLC
|
||||
First Lien Term Loan B2, (1M SOFR + 4.00%, 0.00% Floor), 9.42%, 12/21/28(c)
|
1,507,722
|
1,509,614
|
||
Second Lien Term Loan, (1M SOFR + 6.00%, 0.50% Floor), 11.42%, 12/20/29(c)
|
684,230
|
691,073
|
||
Iconix Brand Group
|
||||
First Lien Term Loan, (3M SOFR + 6.00%, 1.00% Floor), 11.54%, 08/22/29(c)(d)
|
1,800,000
|
1,777,500
|
Apollo Tactical Income Fund Inc.
|
||||
Consolidated Schedule of Investments (continued)
|
||||
September 30, 2023 (unaudited)
|
||||
|
|
Principal
|
|
|
|
|
Amount ($)
|
|
Value ($)
|
Senior Loans - 112.6%(a) (continued)
|
||||
CONSUMER GOODS: NON-DURABLE - 3.2% (continued)
|
||||
KDC/ONE Development Corporation, Inc. (Canada)
|
||||
First Lien Term Loan, (1M SOFR + 5.00%, 0.00% Floor), 10.32%, 08/15/28(c)(e)
|
2,827,596
|
2,732,872
|
||
6,711,059
|
||||
CONTAINERS, PACKAGING & GLASS - 3.2%
|
||||
Anchor Glass Container Corporation
|
||||
First Lien Term Loan, (3.75% PIK), (6M SOFR + 5.00%, 1.00% Floor), 10.90%, 12/07/25(c)(f)
|
5,683,788
|
4,724,649
|
||
Trident TPI Holdings, Inc.
|
||||
First Lien Incremental Term Loan, (3M SOFR + 5.25%, 0.50% Floor), 10.64%, 09/15/28(c)
|
1,985,000
|
1,985,824
|
||
6,710,473
|
||||
ENVIRONMENTAL INDUSTRIES - 2.4%
|
||||
LTR Intermediate Holdings, Inc.
|
||||
First Lien Term Loan, (1M SOFR + 4.50%, 1.00% Floor), 9.93%, 05/05/28(c)
|
5,251,626
|
4,978,542
|
||
FOREST PRODUCTS & PAPER - 0.5%
|
||||
Spa US Holdco, Inc. (Finland)
|
||||
First Lien Term Loan B, (3M SOFR + 4.00%, 0.75% Floor), 9.65%, 02/04/28(c)(e)
|
1,141,715
|
1,115,455
|
||
HEALTHCARE & PHARMACEUTICALS - 20.9%
|
||||
Advarra Holdings, Inc.
|
||||
First Lien Term Loan, (1M SOFR + 5.25%, 0.75% Floor), 10.57%, 08/24/29(c)(d)
|
6,371,700
|
6,339,842
|
||
Athenahealth, Inc.
|
||||
First Lien Term Loan B, (1M SOFR + 3.25%, 0.50% Floor), 8.57%, 02/15/29(c)
|
4,021,984
|
3,957,894
|
||
Azurity Pharmaceuticals, Inc.
|
||||
First Lien Term Loan B, (1M SOFR + 6.62%, 0.75% Floor), 12.05%, 09/20/27(c)
|
3,418,447
|
3,301,656
|
||
Bausch Health Companies, Inc.
|
||||
First Lien Term Loan B, (1M SOFR + 5.25%, 0.50% Floor), 10.67%, 02/01/27(b)(c)
|
3,564,140
|
2,910,209
|
||
Gainwell Acquisition Corporation
|
||||
First Lien Term Loan B, (3M SOFR + 4.00%, 0.75% Floor), 9.49%, 10/01/27(c)
|
8,498,341
|
8,312,440
|
||
Gateway US Holdings, Inc.
|
||||
First Lien Delayed Draw Term Loan, (3M/6M SOFR + 5.50%, 0.75% Floor), 8.68%, 09/22/26(c)(d)
|
122,076
|
121,466
|
||
First Lien Eighth AMD Delayed Draw, (3M SOFR + 6.50%, 0.75% Floor), 12.04%, 09/22/26(c)(d)
|
642,300
|
639,089
|
||
First Lien Term Loan, (3M SOFR + 6.50%, 0.75% Floor), 12.04%, 09/22/26(c)(d)
|
2,796,018
|
2,782,038
|
||
Inovalon Holdings, Inc.
|
||||
First Lien Term Loan, (2.75% PIK), (3M SOFR + 3.50%, 0.75% Floor), 9.14%, 11/24/28(c)(d)(f)
|
6,487,216
|
6,357,472
|
||
Second Lien Term Loan, (16.18% PIK), (3M SOFR + 10.50%, 0.75% Floor), 16.18%, 11/25/33(c)(d)(f)
|
126,940
|
124,401
|
||
Medical Solutions Holdings, Inc.
|
||||
First Lien Term Loan, (3M SOFR + 3.25%, 0.50% Floor), 8.77%, 11/01/28(c)
|
2,664,750
|
2,584,807
|
||
Tivity Health, Inc.
|
||||
First Lien Term Loan, (3M SOFR + 6.00%, 0.75% Floor), 11.39%, 06/28/29(c)(d)
|
4,950,000
|
4,888,125
|
||
Zest Acquisition Corp.
|
||||
First Lien Term Loan, (1M SOFR + 5.50%, 0.00% Floor), 10.82%, 02/08/28(c)
|
1,985,000
|
1,952,754
|
||
44,272,193
|
Apollo Tactical Income Fund Inc.
|
||||
Consolidated Schedule of Investments (continued)
|
||||
September 30, 2023 (unaudited)
|
||||
|
|
Principal
|
|
|
|
|
Amount ($)
|
|
Value ($)
|
Senior Loans - 112.6%(a) (continued)
|
||||
HIGH TECH INDUSTRIES - 24.4%
|
||||
Anaplan, Inc.
|
||||
First Lien Term Loan, (1M SOFR + 6.50%, 0.75% Floor), 11.82%, 06/21/29(c)(d)
|
5,650,529
|
5,678,781
|
||
Avalara, Inc.
|
||||
First Lien Term Loan, (3M SOFR + 7.25%, 0.75% Floor), 12.64%, 10/19/28(c)(d)
|
4,545,455
|
4,488,636
|
||
Cloud Software Group, Inc.
|
||||
First Lien Term Loan A, (3M SOFR + 4.50%, 0.50% Floor), 9.99%, 09/29/28(c)
|
2,983,176
|
2,870,068
|
||
Coupa Software, Inc.
|
||||
First Lien Term Loan, (1M SOFR + 7.50%, 0.75% Floor), 12.82%, 02/27/30(c)(d)
|
1,727,637
|
1,680,126
|
||
DCert Buyer, Inc.
|
||||
First Lien Term Loan, (1M SOFR + 4.00%, 0.00% Floor), 9.32%, 10/16/26(c)
|
4,123,470
|
4,104,275
|
||
Second Lien Term Loan, (1M SOFR + 7.00%, 0.00% Floor), 12.32%, 02/19/29(c)
|
3,933,068
|
3,690,535
|
||
Electronics for Imaging, Inc.
|
||||
First Lien Term Loan, (1M SOFR + 5.00%, 0.00% Floor), 10.42%, 07/23/26(c)
|
982,725
|
659,226
|
||
Evergreen IX Borrower 2023, LLC
|
||||
First Lien Term Loan, (3M SOFR + 6.00%, 0.75% Floor), 11.39%, 09/29/30(c)(d)
|
3,602,484
|
3,512,422
|
||
Imperva, Inc.
|
||||
First Lien Term Loan, (3M SOFR + 4.00%, 1.00% Floor), 9.63%, 01/12/26(c)
|
5,020,070
|
5,035,758
|
||
Imprivata, Inc.
|
||||
First Lien Term Loan, (1M SOFR + 3.75%, 0.50% Floor), 9.18%, 12/01/27(c)
|
491,184
|
491,122
|
||
Second Lien Term Loan, (1M SOFR + 6.25%, 0.50% Floor), 11.57%, 12/01/28(c)(d)
|
2,205,882
|
2,128,676
|
||
IQN Holding Corp.
|
||||
First Lien Term Loan, (3M SOFR + 5.25%, 0.75% Floor), 10.67%, 05/02/29(c)(d)
|
4,058,690
|
4,058,690
|
||
Riverbed Technology, Inc.
|
||||
First Lien Term Loan, (3M SOFR + 4.50%, 1.00% Floor), 9.89%, 07/01/28(c)
|
303,171
|
197,819
|
||
Sovos Compliance, LLC
|
||||
First Lien Term Loan, (1M SOFR + 4.50%, 0.50% Floor), 9.93%, 08/11/28(c)
|
3,450,521
|
3,401,713
|
||
UKG, Inc.
|
||||
First Lien Term Loan, (3M SOFR + 3.75%, 0.00% Floor), 9.22%, 05/04/26(c)
|
3,800,698
|
3,801,306
|
||
Virtusa Corporation
|
||||
First Lien Term Loan, (1M SOFR + 3.75%, 0.75% Floor), 9.17%, 02/15/29(c)
|
2,735,858
|
2,726,282
|
||
Zendesk, Inc.
|
||||
First Lien Term Loan, (3.25% PIK), (3M SOFR + 6.75%, 0.75% Floor), 12.15%, 11/22/28(c)(d)(f)
|
3,008,549
|
3,008,549
|
||
51,533,984
|
||||
MEDIA: ADVERTISING, PRINTING & PUBLISHING - 9.7%
|
||||
Accelerate360 Holdings, LLC
|
||||
First Lien Revolving Term Loan, (3M SOFR + 6.00%, 0.00% Floor), 11.65%, 02/04/27(c)(d)
|
1,017,747
|
1,022,836
|
||
First Lien Term Loan, (3M SOFR + 6.00%, 0.00% Floor), 11.65%, 02/04/27(c)(d)
|
4,046,082
|
4,066,313
|
||
Associations Inc.
|
||||
First Lien Term Loan, (2.50% PIK), (3M SOFR + 6.50%, 1.00% Floor), 12.15%, 07/02/27(c)(d)(f)
|
3,096,211
|
3,096,211
|
||
Houghton Mifflin Harcourt Company
|
||||
First Lien Term Loan B, (1M SOFR + 5.25%, 0.50% Floor), 10.67%, 04/09/29(c)
|
4,138,775
|
3,928,401
|
||
McGraw-Hill Education, Inc.
|
||||
First Lien Term Loan, (1M SOFR + 4.75%, 0.50% Floor), 10.18%, 07/28/28(b)(c)
|
5,266,164
|
5,177,851
|
||
R. R. Donnelley & Sons Company
|
||||
First Lien Term Loan, (1M SOFR + 7.25%, 0.75% Floor), 12.67%, 03/17/28(c)
|
3,314,525
|
3,320,740
|
||
20,612,352
|
Apollo Tactical Income Fund Inc.
|
||||
Consolidated Schedule of Investments (continued)
|
||||
September 30, 2023 (unaudited)
|
||||
|
|
Principal
|
|
|
|
|
Amount ($)
|
|
Value ($)
|
Senior Loans - 112.6%(a) (continued)
|
||||
MEDIA: BROADCASTING & SUBSCRIPTION - 1.8%
|
||||
Anuvu Holdings 2, LLC
|
||||
First Lien Delayed Draw Term Loan, (3M LIBOR + 7.00%, 1.00% Floor), 12.50%, 03/25/24(c)(d)
|
69,796
|
67,004
|
||
First Lien Term Loan, (3M SOFR + 8.00%, 1.00% Floor), 13.50%, 03/24/25(c)
|
2,346,207
|
2,305,148
|
||
First Lien Term Loan, (8.25% PIK), (3M SOFR + 8.25%, 1.00% Floor), 13.75%, 03/23/26(c)(d)(f)
|
2,040,936
|
1,530,702
|
||
3,902,854
|
||||
RETAIL - 3.0%
|
||||
Claire’s Stores, Inc.
|
||||
First Lien Term Loan B, (1M SOFR + 6.50%, 0.00% Floor), 11.92%, 12/18/26(c)
|
2,013,452
|
1,867,477
|
||
PetSmart, Inc.
|
||||
First Lien Term Loan, (1M SOFR + 3.75%, 0.75% Floor), 9.17%, 02/11/28(c)
|
4,373,531
|
4,366,883
|
||
6,234,360
|
||||
SERVICES: BUSINESS - 12.5%
|
||||
Advantage Sales & Marketing Inc.
|
||||
First Lien Term Loan B1, (3M SOFR + 4.50%, 0.75% Floor), 10.04%, 10/28/27(c)
|
1,480,002
|
1,429,823
|
||
BDO USA, P.A.
|
||||
First Lien Term Loan, (1M SOFR + 6.00%, 2.00% Floor), 11.32%, 08/31/28(c)(d)
|
8,000,000
|
7,840,000
|
||
Carestream Health, Inc.
|
||||
First Lien Term Loan, (3M SOFR + 7.50%, 1.00% Floor), 12.99%, 09/30/27(c)(d)
|
54,489
|
38,415
|
||
Coretrust Purchasing Group LLC
|
||||
First Lien Term Loan, (1M SOFR + 6.75%, 0.75% Floor), 12.07%, 10/01/29(c)(d)
|
2,305,883
|
2,236,707
|
||
eResearchTechnology, Inc.
|
||||
First Lien Term Loan B, (1M SOFR + 4.50%, 1.00% Floor), 9.93%, 02/04/27(c)
|
3,003,390
|
2,952,978
|
||
Planet US Buyer LLC
|
||||
First Lien Term Loan, (3M SOFR + 6.75%, 0.75% Floor), 12.12%, 02/01/30(c)(d)
|
2,763,889
|
2,694,792
|
||
Solera, LLC
|
||||
First Lien Term Loan B, (1M SOFR + 4.00%, 0.50% Floor), 9.43%, 06/02/28(c)
|
2,809,984
|
2,697,585
|
||
Second Lien Term Loan, (3M SOFR + 9.00%, 1.00% Floor), 14.52%, 06/04/29(c)
|
4,903,653
|
4,474,583
|
||
Wellsky
|
||||
First Lien Term Loan, (1M SOFR + 5.75%, 0.75% Floor), 11.18%, 03/10/28(c)(d)
|
1,980,000
|
1,975,050
|
||
26,339,933
|
||||
SERVICES: CONSUMER - 3.2%
|
||||
Mavis Tire Express Services Corporation
|
||||
First Lien Term Loan B, (1M SOFR + 4.00%, 0.75% Floor), 9.43%, 05/04/28(c)
|
5,586,368
|
5,579,385
|
||
MH Sub I, LLC
|
||||
First Lien Term Loan, (1M SOFR + 4.25%, 0.50% Floor), 9.57%, 05/03/28(c)
|
1,269,064
|
1,229,901
|
||
6,809,286
|
||||
TELECOMMUNICATIONS - 4.7%
|
||||
CommScope, Inc.
|
||||
First Lien Term Loan B, (1M SOFR + 3.25%, 0.00% Floor), 8.68%, 04/06/26(c)
|
1,008,057
|
943,793
|
||
Flight Bidco, Inc.
|
||||
First Lien Term Loan, (1M SOFR + 3.50%, 0.00% Floor), 8.93%, 07/23/25(c)
|
2,365,477
|
2,331,225
|
||
MLN US Holdco LLC
|
||||
First Lien Term Loan, (3M SOFR + 6.44%, 1.00% Floor), 11.85%, 10/18/27(c)(d)
|
382,882
|
366,610
|
||
First Lien Second Out Term Loan, (3M SOFR + 6.70%, 1.00% Floor), 12.11%, 10/18/27(c)(d)
|
2,284,497
|
1,839,020
|
Apollo Tactical Income Fund Inc.
|
||||
Consolidated Schedule of Investments (continued)
|
||||
September 30, 2023 (unaudited)
|
||||
|
|
Principal
|
|
|
|
|
Amount ($)
|
|
Value ($)
|
Senior Loans - 112.6%(a) (continued)
|
||||
TELECOMMUNICATIONS - 4.7% (continued)
|
||||
U.S. TelePacific Corp.
|
||||
First Lien Term Loan, (6.00% PIK), (6M SOFR + 7.25%, 1.00% Floor), 12.57%, 05/02/26(c)(f)
|
3,239,786
|
1,281,740
|
||
Third Lien Term Loan, 0.00%, 05/02/27(c)(d)(j)
|
319,086
|
–
|
||
Zacapa SARL (Luxembourg)
|
||||
First Lien Term Loan, (3M SOFR + 4.00%, 0.50% Floor), 9.39%, 03/22/29(c)(e)
|
2,753,722
|
2,738,012
|
||
Zayo Group Holdings, Inc.
|
||||
First Lien Term Loan, (1M SOFR + 4.33%, 0.50% Floor), 9.64%, 03/09/27(c)
|
612,059
|
500,358
|
||
10,000,758
|
||||
TRANSPORTATION: CARGO - 0.8%
|
||||
Channelside AcquisitionCo, Inc.
|
||||
First Lien Term Loan, (1M SOFR + 6.75%, 1.00% Floor), 12.09%, 06/30/28(c)(d)
|
1,759,848
|
1,733,450
|
||
WHOLESALE - 1.5%
|
||||
LBM Acquisition, LLC
|
||||
First Lien Term Loan B, (1M SOFR + 3.75%, 0.75% Floor), 9.17%, 12/17/27(c)
|
3,196,668
|
3,127,652
|
||
Total Senior Loans
|
||||
(Cost $243,812,189)
|
238,235,338
|
|||
Corporate Notes and Bonds - 21.9%
|
||||
AUTOMOTIVE - 2.2%
|
||||
Carvana Co.
|
||||
(12.00% PIK), 12.00%, 12/01/28(f)(h)(i)
|
1,379,000
|
1,082,963
|
||
(13.00% PIK), 13.00%, 06/01/30(f)(h)(i)
|
2,069,000
|
1,629,338
|
||
(14.00% PIK), 14.00%, 06/01/31(f)(h)(i)
|
2,448,000
|
1,900,260
|
||
4,612,561
|
||||
BANKING, FINANCE, INSURANCE & REAL ESTATE - 1.7%
|
||||
Alliant Holdings Intermediate, LLC
|
||||
5.88%, 11/01/29(h)(i)
|
3,400,000
|
2,960,187
|
||
KCF Puerto Rico, LLC (Puerto Rico)
|
||||
0.00%, 06/28/28(d)(e)(j)
|
814,642
|
559,284
|
||
3,519,471
|
||||
CHEMICALS, PLASTICS, & RUBBER - 0.9%
|
||||
W.R. Grace Holdings, LLC
|
||||
4.88%, 06/15/27(h)(i)
|
2,000,000
|
1,838,930
|
||
CONTAINERS, PACKAGING & GLASS - 0.8%
|
||||
LABL, Inc.
|
||||
5.88%, 11/01/28(h)(i)
|
2,000,000
|
1,808,607
|
||
ENERGY: OIL & GAS - 2.5%
|
||||
Moss Creek Resources Holdings, Inc.
|
||||
7.50%, 01/15/26(h)(i)
|
1,433,000
|
1,389,020
|
||
Sitio Finance Corp.
|
||||
7.88%, 11/01/28(h)(i)
|
1,000,000
|
1,003,500
|
||
Venture Global LNG, Inc.
|
||||
8.13%, 06/01/28(h)(i)
|
3,000,000
|
2,971,875
|
||
5,364,395
|
Apollo Tactical Income Fund Inc.
|
||||
Consolidated Schedule of Investments (continued)
|
||||
September 30, 2023 (unaudited)
|
||||
|
|
Principal
|
|
|
|
|
Amount ($)
|
|
Value ($)
|
Corporate Notes and Bonds - 21.9%(continued)
|
||||
FOREST PRODUCTS & PAPER - 0.6%
|
||||
Spa US Holdco, Inc. (Finland)
|
||||
4.88%, 02/04/28(e)(h)(i)
|
1,500,000
|
1,254,483
|
||
HEALTHCARE & PHARMACEUTICALS - 0.6%
|
||||
Bausch Health Companies, Inc.
|
||||
5.50%, 11/01/25(h)(i)
|
500,000
|
444,375
|
||
Embecta Corp.
|
||||
5.00%, 02/15/30(h)(i)
|
1,063,000
|
837,633
|
||
1,282,008
|
||||
HIGH TECH INDUSTRIES - 3.0%
|
||||
Austin BidCo Inc.
|
||||
7.13%, 12/15/28(h)(i)
|
2,000,000
|
1,617,500
|
||
Wolfspeed, Inc.
|
||||
9.88%, 06/23/30(d)(h)(i)
|
5,000,000
|
4,816,000
|
||
6,433,500
|
||||
HOTEL, GAMING & LEISURE - 3.6%
|
||||
Carnival Corporation
|
||||
10.38%, 05/01/28(h)(i)
|
2,028,000
|
2,176,997
|
||
CDI Escrow Issuer, Inc.
|
||||
6.75%, 05/01/31(h)(i)
|
2,500,000
|
2,369,757
|
||
5.75%, 04/01/30(h)(i)
|
2,000,000
|
1,810,000
|
||
NCL Corporation Ltd.
|
||||
9.75%, 02/22/28(d)(h)(i)
|
1,153,000
|
1,198,543
|
||
7,555,297
|
||||
MEDIA: ADVERTISING, PRINTING & PUBLISHING - 0.8%
|
||||
Outfront Media Capital, LLC
|
||||
5.00%, 08/15/27(h)(i)
|
2,000,000
|
1,778,244
|
||
METALS & MINING - 0.0%
|
||||
ERP Iron Ore, LLC
|
||||
LIBOR + 8.00%, 0.00%, 12/31/19(d)(g)(j)
|
86,775
|
–
|
||
Magnetation, LLC / Mag Finance Corp.
|
||||
0.00%, 05/15/18(d)(g)(h)(i)(j)
|
2,937,000
|
–
|
||
–
|
||||
RETAIL - 0.9%
|
||||
PetSmart, Inc.
|
||||
7.75%, 02/15/29(h)(i)
|
2,000,000
|
1,867,250
|
||
SERVICES: BUSINESS - 1.9%
|
||||
Advantage Sales & Marketing Inc.
|
||||
6.50%, 11/15/28(h)(i)
|
2,683,000
|
2,311,539
|
||
Allied Universal Holdco LLC
|
||||
4.63%, 06/01/28(h)(i)
|
2,000,000
|
1,670,000
|
||
3,981,539
|
||||
SERVICES: CONSUMER - 1.0%
|
||||
Mavis Tire Express Services Corporation
|
||||
6.50%, 05/15/29(h)(i)
|
2,405,000
|
2,033,019
|
Apollo Tactical Income Fund Inc.
|
||||
Consolidated Schedule of Investments (continued)
|
||||
September 30, 2023 (unaudited)
|
||||
|
|
Principal
|
|
|
|
|
Amount ($)
|
|
Value ($)
|
Corporate Notes and Bonds - 21.9%(continued)
|
||||
TELECOMMUNICATIONS - 0.9%
|
||||
Frontier Communications Holdings, LLC
|
||||
8.63%, 03/15/31(h)(i)
|
2,000,000
|
1,887,956
|
||
WHOLESALE - 0.5%
|
||||
LBM Acquisition, LLC
|
||||
6.25%, 01/15/29(h)(i)
|
1,344,000
|
1,103,760
|
||
Total Corporate Notes and Bonds
|
||||
(Cost $50,660,107)
|
46,321,020
|
|||
Convertible Bonds - 1.1%
|
||||
HOTEL, GAMING & LEISURE - 1.1%
|
||||
Peloton Interactive, Inc.
|
||||
0.00%, 02/15/26(h)(j)
|
3,000,000
|
2,276,250
|
||
Total Convertible Bonds
|
||||
(Cost $2,475,388)
|
2,276,250
|
|||
Structured Products - 10.8%(m)
|
||||
Basswood Park CLO Ltd (Cayman Islands)
|
||||
2021-1, Class E 11.74%, 04/20/34(e)(i)(n)
|
2,000,000
|
1,879,680
|
||
Churchill Middle Market CLO, Ltd. (Cayman Islands)
|
||||
2021-1A E, Class E 13.77%, 10/24/33(e)(i)(n)
|
4,000,000
|
3,610,236
|
||
Fortress Credit BSL CLO, Ltd. (Cayman Islands)
|
||||
2021-3 Class E 12.65%, 07/20/34(e)(i)(n)
|
3,000,000
|
2,731,047
|
||
Fortress Credit Opportunities CLO, Ltd. (Cayman Islands)
|
||||
2018-11A, Class E 12.72%, 04/15/31(e)(i)(n)
|
4,000,000
|
3,747,288
|
||
Franklin Park Place CLO, Ltd. (Cayman Islands)
|
||||
2022-1A, Class E 12.81%, 04/14/35(e)(i)(n)
|
2,000,000
|
1,856,152
|
||
Golub Capital Partners CLO, Ltd. (Cayman Islands)
|
||||
2021-55A, Class E 12.15%, 07/20/34(e)(i)(n)
|
2,000,000
|
1,879,856
|
||
KKR Financial CLO, Ltd. (Cayman Islands)
|
||||
2017, Class ER 12.96%, 04/15/34(e)(i)(n)
|
2,750,000
|
2,574,091
|
||
TIAA Churchill Middle Market CLO, Ltd. (Cayman Islands)
|
||||
2016-1A, Class ER 13.22%, 10/20/30(e)(i)(n)
|
5,000,000
|
4,614,490
|
||
Total Structured Products
|
||||
(Cost $24,340,135)
|
22,892,840
|
|||
|
|
Quantity
|
|
Value ($)
|
Common Stocks - 0.3%
|
||||
AUTOMOTIVE - 0.0%
|
||||
APC Parent, Inc.(d)(j)
|
241,972
|
–
|
||
ENERGY: OIL & GAS - 0.0%
|
||||
RDV Resources, Inc.(d)(j)
|
7,743
|
5,923
|
||
HIGH TECH INDUSTRIES - 0.0%
|
||||
Vector Capitano Holdings, LP Class B-1 (Cayman Islands)(d)(e)(j)
|
8,085
|
–
|
||
Vector Capitano Holdings, LP Class B-2 (Cayman Islands)(d)(e)(j)
|
6,295
|
–
|
||
–
|
||||
MEDIA: ADVERTISING, PRINTING & PUBLISHING - 0.0%
|
||||
Acosta, Inc.(d)(j)
|
3,133
|
33,045
|
Apollo Tactical Income Fund Inc.
|
||||
Consolidated Schedule of Investments (continued)
|
||||
September 30, 2023 (unaudited)
|
||||
|
|
Quantity
|
|
Value ($)
|
Common Stocks - 0.3% (continued)
|
||||
MEDIA: BROADCASTING & SUBSCRIPTION - 0.1%
|
||||
Anuvu Corp.(d)(j)
|
102,608
|
193,929
|
||
SERVICES: BUSINESS - 0.2%
|
||||
Carestream Health, Inc.(d)(j)
|
55,323
|
459,181
|
||
Total Common Stocks
|
||||
(Cost $3,197,792)
|
692,078
|
|||
Preferred Stock - 0.1%
|
||||
MEDIA: ADVERTISING, PRINTING & PUBLISHING - 0.1%
|
||||
Acosta, Inc., (14.50% PIK)(d)(f)
|
4,138
|
202,914
|
||
Total Preferred Stock
|
||||
(Cost $170,424)
|
202,914
|
|||
Total Investments - 146.8%
|
||||
(Cost of $324,656,035)
|
310,620,440
|
|||
Other Assets & Liabilities, Net - 10.4%
|
21,889,095
|
|||
Loan Outstanding - (57.2)%(k)(l)
|
(120,900,622)
|
|||
Net Assets (Applicable to Common Shares) - 100.0%
|
211,608,913
|
|||
(a)
|
“Senior Loans” are senior, secured loans made to companies whose debt is below investment grade as well as investments with similar economic characteristics. Senior Loans
typically hold a first lien priority and, unless otherwise indicated, are required to pay interest at floating rates that are periodically reset by reference to a base lending rate plus a spread. In some instances, the rates shown represent
the weighted average rate as of September 30, 2023. Senior Loans are generally not registered under the Securities Act of 1933 (the “1933 Act”) and often incorporate certain restrictions on resale and cannot be sold publicly. Senior Loans
often require prepayments from excess cash flow or permit the borrower to repay at its election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result,
the actual maturity may be substantially less than the stated maturity.
|
|||
(b)
|
All or a portion of this Senior Loan position has not settled. Full contract rates do not take effect until settlement date and therefore are subject to change.
|
|||
(c)
|
The interest rate on this Senior Loan is subject to a base lending rate plus a spread. These base lending rates are primarily the Secured Overnight Financing Rate (“SOFR”) and
secondarily the synthetic London Interbank Offered Rate (“LIBOR”) or the prime rate offered by one or more major U.S. banks (“Prime”). The interest rate is subject to a minimum floor, which may be less than or greater than the prevailing
period end LIBOR/SOFR/Prime rate. As of September 30, 2023, the 1, 3 and 6 month LIBOR rates were 5.43%, 5.66% and 5.90%, respectively, the 1, 3 and 6 month SOFR rates were 5.32%, 5.40%, and 5.47%, respectively, and the Prime lending rate was
8.50%. Senior Loans may contain multiple contracts of the same issuer which may be subject to base lending rates of LIBOR, SOFR and Prime (“Variable”) in addition to the stated spread.
|
|||
(d)
|
Fair Value Level 3 security.
|
|||
(e)
|
Foreign issuer traded in U.S. dollars.
|
|||
(f)
|
Represents a payment-in-kind (“PIK”) security, which may pay interest in additional principal amount/share quantity.
|
|||
(g)
|
Issuer filed for bankruptcy and/or is in default of principal and/or interest payments.
|
|||
(h)
|
Fixed rate asset.
|
|||
(i)
|
Securities exempt from registration pursuant to Rule 144A under the 1933 Act. These securities may only be resold in transactions exempt from registration to qualified
institutional buyers. At September 30, 2023, these securities amounted to $68,654,576, or 32.44% of net assets.
|
|||
(j)
|
Non-income producing asset.
|
|||
(k)
|
The Fund has granted a security interest in substantially all of its assets in the event of default under the credit facility.
|
|||
(l)
|
Principal of $121,000,000 less unamortized deferred financing costs of $99,378.
|
|||
(m)
|
Structured Products include collateralized loan obligations (“CLOs”). A CLO typically takes the form of a financing company (generally called a special purpose vehicle or “SPV”),
created to reapportion the risk and return characteristics of a pool of assets. While the assets underlying CLOs are often Senior Loans or corporate notes and bonds, the assets may also include (i) subordinated loans; (ii) debt tranches of
other CLOs; and (iii) equity securities incidental to investments in Senior Loans. The Fund may invest in lower tranches of CLOs, which typically experience a lower recovery, greater risk of loss or deferral or non-payment of interest than
more senior tranches of the CLO. A key feature of the CLO structure is the prioritization of the cash flows from a pool of debt securities among the several classes of the CLO. The SPV is a company founded for the purpose of securitizing
payment claims arising out of this asset pool. On this basis, marketable securities are issued by the SPV and the redemption of these securities typically takes place at maturity out of the cash flow generated by the collected claims.
|
|||
(n)
|
Floating rate asset. The interest rate shown reflects the rate in effect at September 30, 2023.
|
Apollo Tactical Income Fund Inc.
|
||||||||||||||||
Total Fair Value at
September 30, 2023
|
Level 1
Quoted Price
|
Level 2
Significant
Observable Inputs
|
Level 3
Significant
Unobservable Inputs
|
|||||||||||||
Assets:
|
||||||||||||||||
Cash and Cash Equivalents
|
$
|
14,853,240
|
$
|
14,853,240
|
$
|
-
|
$
|
-
|
||||||||
Senior Loans
|
238,235,338
|
-
|
145,332,744
|
92,902,594
|
||||||||||||
Corporate Notes and Bonds
|
46,321,020
|
-
|
39,747,193
|
6,573,827
|
||||||||||||
Convertible Bonds
|
2,276,250
|
-
|
2,276,250
|
-
|
||||||||||||
Structured Products
|
22,892,840
|
-
|
22,892,840
|
-
|
||||||||||||
Common Stocks
|
692,078
|
-
|
-
|
692,078
|
||||||||||||
Preferred Stock
|
202,914
|
-
|
-
|
202,914
|
||||||||||||
Unrealized appreciation on Unfunded Commitments
|
58,562
|
-
|
4,295
|
54,267
|
||||||||||||
Total Assets
|
$
|
325,532,242
|
$
|
14,853,240
|
$
|
210,253,322
|
$
|
100,425,680
|
||||||||
Liabilities:
|
||||||||||||||||
Unrealized depreciation on Unfunded Commitments
|
(26,996
|
)
|
-
|
-
|
(26,996
|
)
|
||||||||||
Total Liabilities
|
(26,996
|
)
|
-
|
-
|
(26,996
|
)
|
||||||||||
$
|
325,505,246
|
$
|
14,853,240
|
$
|
210,253,322
|
$
|
100,398,684
|
Apollo Tactical Income Fund Inc.
|
||||||||||||||||||||||||
Total
|
Senior
Loans
|
Corporate
Notes and
Bonds
|
Common
Stocks
|
Preferred Stocks
|
Unfunded
Commitments
|
|||||||||||||||||||
Total Fair Value, beginning of period
|
$
|
75,631,009
|
$
|
73,159,804
|
$
|
551,046
|
$
|
1,753,260
|
$
|
188,448
|
$
|
(21,549
|
)
|
|||||||||||
Purchases, including capitalized PIK
|
38,541,272
|
32,599,802
|
5,941,470
|
-
|
-
|
-
|
||||||||||||||||||
Sales/Paydowns
|
(11,756,295
|
)
|
(11,742,202
|
)
|
-
|
(14,093
|
)
|
-
|
-
|
|||||||||||||||
Accretion/(amortization) of discounts/ (premiums)
|
130,503
|
129,061
|
1,442
|
-
|
-
|
-
|
||||||||||||||||||
Net realized gain/(loss)
|
(2,592,080
|
)
|
(2,117,932
|
)
|
-
|
14,093
|
(488,241
|
)
|
-
|
|||||||||||||||
Change in net unrealized appreciation/ (depreciation)
|
3,745,931
|
4,175,717
|
79,869
|
(1,061,182
|
)
|
502,707
|
48,820
|
|||||||||||||||||
Transfers into Level 3
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
Transfers out of Level 3
|
(3,301,656
|
)
|
(3,301,656
|
)
|
-
|
-
|
-
|
-
|
||||||||||||||||
Total Fair Value, end of period
|
$
|
100,398,684
|
$
|
92,902,594
|
$
|
6,573,827
|
$
|
692,078
|
$
|
202,914
|
$
|
27,271
|
Assets/Liabilities
|
Fair Value at
September 30, 2023
|
Valuation Technique(s)(a)
|
Unobservable Input(s)
|
Range of Unobservable
Input(s) Utilized
|
Weighted Average
Unobservable Input(s)
|
|||||
Senior Loans
|
$
|
78,441,875
|
Discounted Cash Flow (b)
|
Discount Rate (b)
|
8.59% - 31.45%
|
11.64%
|
||||
-
|
Recoverability (c)
|
Estimated Proceeds (c)
|
$-
|
$-
|
||||||
14,460,719
|
Transaction Appraoch (d)
|
Cost (d)
|
N/A
|
N/A
|
||||||
Corporate Notes and Bonds
|
6,014,543
|
Discounted Cash Flow (b)
|
Discount Rate (b)
|
8.31% - 12.53%
|
11.42%
|
|||||
559,284
|
Discounted Cash Flow (b)
|
Discount Rate (b)
|
5.40%
|
5.40%
|
||||||
Recoverability (c)
|
Estimated Proceeds (c)
|
$55.5m
|
$55.5m
|
|||||||
-
|
Recoverability (c)
|
Estimated Proceeds (c)
|
$-
|
$-
|
||||||
Common Stocks
|
-
|
Recoverability (c)
|
Estimated Proceeds (c)
|
$-
|
$-
|
|||||
5,923
|
Discounted Cash Flow (b)
|
Discount Rate (b)
|
5.45%
|
5.45%
|
||||||
Recoverability (c)
|
Estimated Proceeds (c)
|
$9.1m
|
$9.1m
|
|||||||
492,226
|
Guideline Public Company (e)
|
TEV / EBITDA Multiple (e)
|
2.75x - 7.00x
|
3.50x
|
||||||
193,929
|
Guideline Public Company (e)
|
TEV / EBITDA Multiple (e)
|
2.50x - 3.50x
|
3.00x
|
||||||
Guideline Public Company (f)
|
TEV / Revenue (f)
|
1.35x - 1.55x
|
1.45x
|
|||||||
Preferred Stock
|
202,914
|
Guideline Public Company (e)
|
TEV / EBITDA Multiple (e)
|
7.00x
|
7.00x
|
|||||
Unfunded Commitments
|
27,442
|
Discounted Cash Flow (b)
|
Discount Rate (b)
|
9.48% - 25.49%
|
14.91%
|
|||||
(171
|
)
|
Transaction Appraoch (d)
|
Cost (d)
|
N/A
|
N/A
|
|||||
Total Fair Value
|
$
|
100,398,684
|
||||||||
(a)
|
For the assets which have multiple valuation techniques, the Fund may rely on the techniques individually or in aggregate based on a weight ranging from
0-100%
|
(b)
|
The Fund utilized a discounted cash flow model to fair value this security. The significant unobservable input used in the valuation model was the discount
rate, which was determined based on the market rates an investor would expect for a similar investment with similar risks. The discount rate was applied to present value the projected cash flows in the valuation model. Significant increases
in the discount rate may significantly lower the fair value of an investment; conversely, significant decreases in the discount rate may significantly increase the fair value of an investment.
|
(c)
|
The Fund utilized a recoverability approach to fair value this security, specifically a liquidation analysis. There are various, company specific inputs
used in the valuation analysis that relate to the liquidation value of a company’s assets. The significant unobservable input used in the valuation model was estimated proceeds. Significant increases or decreases in the input in isolation
may result in a significantly higher or lower fair value measurement.
|
(d)
|
The Fund utilized a recent transaction, specifically purchase price, to fair value this security.
|
(e)
|
The Fund utilized a guideline public company method to fair value this security. The significant unobservable inputs used in the valuation model were total
enterprise value (“TEV”) and earnings before interest, taxes, depreciation and amortization (“EBITDA”) based on comparable multiples for a similar investment with similar risks. Significant increases or decreases in either of these inputs in
isolation may result in a significantly higher or lower fair value measurement.
|
(f)
|
The Fund utilized a guideline public company method to fair value this security. The significant unobservable inputs used in the valuation model were total
enterprise value (“TEV”) and revenue based on comparable multiples for a similar investment with similar risks. Significant increases or decreases in either of these inputs in isolation may result in a significantly higher or lower fair value
measurement.
|
Borrower
|
Unfunded
Commitments
|
||
ABG Intermediate Holdings 2, LLC Delayed Draw Term Loan*
|
$
|
288,889
|
|
Accelerate 360 Holdings, LLC Revolving Term Loan
|
508,873
|
||
Advarra Holdings, Inc. Delayed Draw Term Loan
|
580,151
|
||
Anaplan, Inc. Revolving Term Loan
|
349,471
|
||
Anuvu Holdings 2, LLC Delayed Draw Term Loan
|
33,195
|
||
Anuvu Holdings 2, LLC Delayed Draw Term Loan B
|
550,829
|
||
Avalara, Inc. Revolving Term Loan
|
454,545
|
||
Channelside AcquisitionCo, Inc. Delayed Draw Term Loan**
|
65,000
|
||
Channelside AcquisitionCo, Inc. Revolving Term Loan
|
166,667
|
||
Coretrust Purchasing Group, LLC Delayed Draw Term Loan
|
338,346
|
||
Coretrust Purchasing Group, LLC Revolving Term Loan
|
338,346
|
||
Coupa Software, Inc. Delayed Draw Term Loan
|
154,253
|
||
Coupa Software, Inc. Revolving Term Loan
|
118,110
|
||
Evergreen IX Borrower 2023, LLC Revolving Term Loan
|
397,516
|
||
Gateway US Holdings, Inc. Delayed Draw Term Loan**
|
23,728
|
||
Gateway US Holdings, Inc. Revolving Term Loan
|
112,686
|
||
Higginbotham Insurance Agency, Inc. 3rd Amd. Delayed Draw Term Loan**
|
888,889
|
||
Inovalon Holdings, Inc. Delayed Draw Term Loan
|
660,211
|
||
IQN Holding Corp. Delayed Draw Term Loan
|
420,856
|
||
IQN Holding Corp. Revolving Term Loan
|
320,856
|
||
NCL Corporation Ltd. Backstop Notes
|
694,000
|
||
NCL Corporation Ltd. Class B Bridge Notes
|
1,153,000
|
||
Planet US Buyer LLC Revolving Term Loan
|
222,222
|
||
Riverbed Technology, Inc. Revolving Term Loan
|
75,542
|
||
Ultimate Baked Goods Midco, LLC Revolving Term Loan
|
248,649
|
||
Zendesk, Inc. Delayed Draw Term Loan
|
739,130
|
||
Zendesk, Inc. Revolving Term Loan
|
304,348
|
||
$
|
10,208,308
|
1 Year Apollo Tactical Income Chart |
1 Month Apollo Tactical Income Chart |
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