MZHSX Holdings — Muzinich Flexible U.S. High Yield Income Fund
Data updated: 2026-08-27
MZHSX holds 339 securities. The top 10 make up 12.3% of net assets, led by First American Treasury Obligations Fund (2.52%) and Global Aircraft Leasing Co (1.59%). Corporate Bonds (96.5%) and Funds & ETFs (2.5%) are the largest sectors, and 86.3% of the portfolio is in United States. Debt holdings: 305 positions, 88.0% of assets.
Holdings cover 99.59% of net asset value (98.12% of total assets; remainder is cash and receivables). As of June 30, 2026 · N-PORT.
MZHSX Portfolio Holdings
339 holdings of Muzinich Flexible U.S. High Yield Income Fund by percentage of net assets, from the fund's SEC N-PORT filing as of June 30, 2026. The 100 largest are listed below; the interactive table on this page lists all 339.
| Holding | Ticker | Sector | % of net assets | Value (USD) |
|---|---|---|---|---|
| First American Treasury Obligations Fund | FXFXX | Funds & ETFs | 2.52% | $1.73M |
| Global Aircraft Leasing Co Ltd | — | Corporate Bonds | 1.59% | $1.09M |
| EchoStar Corp | — | Corporate Bonds | 1.26% | $864.69K |
| TransDigm Inc | — | Corporate Bonds | 1.24% | $850.96K |
| Blackstone Mortgage Trust Inc | — | Corporate Bonds | 1.19% | $817.02K |
| Minerals Technologies Inc | — | Corporate Bonds | 1.08% | $744.83K |
| Perrigo Finance Unlimited Co | — | Corporate Bonds | 0.90% | $621.19K |
| Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp | — | Corporate Bonds | 0.87% | $600.56K |
| Venture Global Plaquemines LNG LLC | — | Corporate Bonds | 0.85% | $583.45K |
| Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl | — | Corporate Bonds | 0.83% | $567.94K |
| Nissan Motor Acceptance Co LLC | — | Corporate Bonds | 0.82% | $565.88K |
| Constellium SE | — | Corporate Bonds | 0.76% | $525.23K |
| Gci LLC | — | Corporate Bonds | 0.76% | $524.65K |
| Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer | — | Corporate Bonds | 0.73% | $500.06K |
| CCO Holdings LLC / CCO Holdings Capital Corp | — | Corporate Bonds | 0.71% | $489.12K |
| Sirius XM Radio LLC | — | Corporate Bonds | 0.67% | $462.90K |
| Neptune Bidco US Inc | — | Corporate Bonds | 0.67% | $459.25K |
| New Enterprise Stone & Lime Co Inc | — | Corporate Bonds | 0.65% | $448.70K |
| APLD ComputeCo LLC | — | Corporate Bonds | 0.63% | $431.90K |
| Century Communities Inc | — | Corporate Bonds | 0.62% | $429.43K |
| Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer | — | Corporate Bonds | 0.62% | $428.58K |
| California Buyer Ltd / Atlantica Sustainable Infrastructure PLC | — | Corporate Bonds | 0.62% | $426.26K |
| OneSky Flight LLC | — | Corporate Bonds | 0.62% | $423.38K |
| Rocket Software Inc | — | Corporate Bonds | 0.62% | $422.77K |
| DISH DBS Corp | — | Corporate Bonds | 0.60% | $412.06K |
| Global Infrastructure Solutions Inc | — | Corporate Bonds | 0.58% | $399.97K |
| ERO Copper Corp | — | Corporate Bonds | 0.58% | $399.94K |
| Novelis Corp | — | Corporate Bonds | 0.56% | $386.94K |
| Kaiser Aluminum Corp | — | Corporate Bonds | 0.56% | $383.15K |
| APH Somerset Investor 2 LLC / APH2 Somerset Investor 2 LLC / APH3 Somerset Inves | — | Corporate Bonds | 0.55% | $380.04K |
| Adapthealth LLC | — | Corporate Bonds | 0.55% | $375.44K |
| Energizer Holdings Inc | — | Corporate Bonds | 0.54% | $372.29K |
| KeHE Distributors LLC / KeHE Finance Corp / NextWave Distribution Inc | — | Corporate Bonds | 0.53% | $366.84K |
| Allied Universal Holdco LLC | — | Corporate Bonds | 0.53% | $366.07K |
| Cloud Software Group LLC | — | Corporate Bonds | 0.53% | $364.54K |
| DISH Network Corp | — | Corporate Bonds | 0.52% | $359.89K |
| Univision Communications Inc | — | Corporate Bonds | 0.52% | $358.31K |
| Directv Financing LLC | — | Corporate Bonds | 0.52% | $356.66K |
| Connect Finco SARL | — | Corporate Bonds | 0.51% | $350.57K |
| Prime Healthcare Services Inc | — | Corporate Bonds | 0.49% | $339.72K |
| CCO Holdings LLC / CCO Holdings Capital Corp | — | Corporate Bonds | 0.49% | $337.98K |
| Penn Entertainment Inc | — | Corporate Bonds | 0.49% | $335.56K |
| Garda World Security Corp | — | Corporate Bonds | 0.48% | $332.93K |
| US Acute Care Solutions LLC | — | Corporate Bonds | 0.48% | $329.97K |
| Midcontinent Communications | — | Corporate Bonds | 0.48% | $328.91K |
| Venture Global Calcasieu Pass LLC | — | Corporate Bonds | 0.48% | $328.88K |
| TransDigm Inc | — | Corporate Bonds | 0.48% | $328.40K |
| McGraw-Hill Education Inc | — | Corporate Bonds | 0.47% | $323.91K |
| Mauser Packaging Solutions Holding Co | — | Corporate Bonds | 0.47% | $319.95K |
| SeaWorld Parks & Entertainment Inc | — | Corporate Bonds | 0.46% | $317.62K |
| Open Text Corp | — | Corporate Bonds | 0.46% | $316.94K |
| CCO Holdings LLC / CCO Holdings Capital Corp | CHTR | Corporate Bonds | 0.45% | $308.36K |
| Rockies Express Pipeline LLC | — | Corporate Bonds | 0.45% | $307.43K |
| Venture Global LNG Inc | — | Corporate Bonds | 0.45% | $306.12K |
| Penn Entertainment Inc | — | Corporate Bonds | 0.44% | $300.18K |
| Acrisure LLC / Acrisure Finance Inc | — | Corporate Bonds | 0.43% | $296.90K |
| Maxim Crane Works Holdings Capital LLC | — | Corporate Bonds | 0.41% | $285.19K |
| Suburban Propane Partners LP/Suburban Energy Finance Corp | — | Corporate Bonds | 0.41% | $284.55K |
| JB Poindexter & Co Inc | — | Corporate Bonds | 0.41% | $283.12K |
| Magnera Corp | — | Corporate Bonds | 0.41% | $280.22K |
| StonePeak Motion Finco T/L (06/26) | — | Unknown | 0.40% | $275.03K |
| PR RNO Property Owner 1 LLC | — | Corporate Bonds | 0.40% | $274.97K |
| Cinemark USA Inc | — | Corporate Bonds | 0.40% | $274.56K |
| NCR Voyix Corp | — | Corporate Bonds | 0.39% | $268.33K |
| Energizer Holdings Inc | — | Corporate Bonds | 0.39% | $266.42K |
| LifePoint Health Inc | — | Corporate Bonds | 0.38% | $263.70K |
| Champ Acquisition Corp | — | Corporate Bonds | 0.38% | $262.18K |
| Star Parent Inc | — | Corporate Bonds | 0.38% | $261.91K |
| Venture Global LNG Inc | — | Corporate Bonds | 0.38% | $260.11K |
| Calderys Financing LLC | — | Corporate Bonds | 0.38% | $259.28K |
| MIWD Holdco II LLC / MIWD Finance Corp | — | Corporate Bonds | 0.38% | $259.11K |
| Carnival Corp Ltd | — | Corporate Bonds | 0.37% | $253.03K |
| Talen Energy Supply LLC | — | Corporate Bonds | 0.37% | $252.17K |
| Block Inc | — | Corporate Bonds | 0.36% | $250.75K |
| Discovery Global Holdings Inc | — | Corporate Bonds | 0.36% | $250.38K |
| Brookfield Residential Properties Inc / Brookfield Residential US LLC | BRPCN | Corporate Bonds | 0.36% | $250.30K |
| Viasat Inc | — | Corporate Bonds | 0.36% | $250.25K |
| Cyprium Corp / Cyprium Holdings Luxembourg Sarl | — | Corporate Bonds | 0.36% | $250.13K |
| Patrick Industries Inc | — | Corporate Bonds | 0.36% | $249.22K |
| Crown Subsea Communications Holding Inc | — | Corporate Bonds | 0.36% | $248.57K |
| Jaguar Land Rover Automotive PLC | — | Corporate Bonds | 0.36% | $248.26K |
| Ashton Woods USA LLC / Ashton Woods Finance Co | — | Corporate Bonds | 0.36% | $248.11K |
| BlueLinx Holdings Inc | — | Corporate Bonds | 0.36% | $247.51K |
| SM Energy Co | — | Corporate Bonds | 0.36% | $246.33K |
| Travel + Leisure Co | — | Corporate Bonds | 0.36% | $245.02K |
| Tenet Healthcare Corp | — | Corporate Bonds | 0.35% | $243.17K |
| UKG Inc | — | Corporate Bonds | 0.35% | $243.02K |
| Medline Borrower LP | — | Corporate Bonds | 0.35% | $242.94K |
| Olympus Water US Holding Corp | — | Corporate Bonds | 0.35% | $242.67K |
| OneMain Finance Corp | — | Corporate Bonds | 0.35% | $242.27K |
| LifePoint Health Inc | — | Corporate Bonds | 0.35% | $240.05K |
| Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC | — | Corporate Bonds | 0.35% | $237.81K |
| Canpack SA / Canpack US LLC | — | Corporate Bonds | 0.35% | $237.38K |
| Virgin Media Secured Finance PLC | — | Corporate Bonds | 0.35% | $237.33K |
| Connect Finco SARL / Connect US Finco LLC | — | Corporate Bonds | 0.34% | $237.04K |
| Cloud Software Group LLC | — | Corporate Bonds | 0.34% | $234.79K |
| Phoenix Aviation Capital Ltd | — | Corporate Bonds | 0.34% | $232.65K |
| Bausch + Lomb Corp | — | Corporate Bonds | 0.34% | $231.47K |
| PRA Group Inc | — | Corporate Bonds | 0.33% | $229.20K |
| Harvest Midstream I LP | — | Corporate Bonds | 0.33% | $228.27K |
MZHSX Sector Allocation
Muzinich Flexible U.S. High Yield Income Fund holdings grouped by sector, by share of the portfolio's market value.
| Sector | Weight | Holdings |
|---|---|---|
| Corporate Bonds | 96.5% | 333 |
| Funds & ETFs | 2.5% | 1 |
| Energy | 0.3% | 1 |
| Unknown | 0.6% | 4 |
MZHSX Country Allocation
Where Muzinich Flexible U.S. High Yield Income Fund's holdings are domiciled, by percentage of net assets (largest 13).
| Country | % of net assets |
|---|---|
| United States | 86.3% |
| Canada | 3.6% |
| Cayman Islands | 1.7% |
| United Kingdom | 1.6% |
| Ireland | 1.5% |
| Luxembourg | 0.9% |
| Australia | 0.8% |
| Jersey | 0.8% |
| France | 0.8% |
| Bermuda | 0.7% |
| Netherlands | 0.4% |
| Poland | 0.3% |
| Japan | 0.3% |
MZHSX Portfolio Allocation
Asset-class allocation of Muzinich Flexible U.S. High Yield Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 89.4% |
| Loans | 7.7% |
| Cash & Equivalents | 2.5% |
MZHSX Debt Constituents
Largest debt holdings of Muzinich Flexible U.S. High Yield Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Global Air Lease Co. Ltd. | 1.59% |
| Echostar Corp. | 1.26% |
| Blackstone Mortgage Tr | 1.19% |
| Minerals Technologies in | 1.08% |
| Perrigo Finance Unlimite | 0.90% |
| Tallgrass Nrg Prtnr/fin | 0.87% |
| Venture Global Plaque | 0.85% |
| Atlas Luxco 4 / All Uni | 0.83% |
| Nissan Motor Acceptance | 0.82% |
| Constellium SE | 0.76% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.