HYB New America High Income Fund Inc

 

The New America High Income Fund, Inc.

 

Schedule of Investments - March 31, 2024 (Unaudited) (Dollar Amounts in Thousands)

						Moody's
Principal						Rating			Value
Amount/Units						(Unaudited)			(See Notes)
CORPORATE DEBT SECURITIES - 135.05% (c) (e)
AEROSPACE & DEFENSE - 3.41%
	400			Spirit AeroSystems, Inc., Senior Notes, 9.75%, 11/15/2030 (f)		B3			$	448
	515			Transdigm, Inc., Senior Notes, 7.5%, 03/15/2027		B3				515
	565			Transdigm, Inc., Senior Notes, 5.5%, 11/15/2027		B3				552
	745			Transdigm, Inc., Senior Notes, 6.75%, 08/15/2028 (f)		Ba3				754
	1,800			Transdigm, Inc., Senior Notes, 6.875%, 12/15/2030 (f)		Ba3				1,834
	935			Transdigm, Inc., Senior Notes, 7.125%, 12/01/2031 (f)		Ba3				964
	495			Transdigm, Inc., Senior Notes, 6.375%, 03/01/2029 (f)		Ba3				496
	990			Transdigm, Inc., Senior Notes, 6.625%, 03/01/2032 (c)(f)		Ba3				999
										6,562
AIRLINES - 0.89%
	1,015			American Airlines, Inc., Senior Notes, 5.75%, 04/20/2029 (f)		Ba1				996
	760			United Airlines, Inc., Senior Notes, 4.625%, 04/15/2029 (f)		Ba1				706
										1,702
AUTOMOTIVE - 8.03%
	800			Adient Global Holdings, Senior Notes, 8.25%, 04/15/2031 (f)		B2				842
	270			Benteler International AG, Senior Notes, 10.5%, 05/15/2028 (f)		Ba3				291
	1,300			Clarios Global L.P., Senior Notes, 8.5%, 05/15/2027 (f)		B3				1,302
	552			Dana Financing Luxembourg S.a.r.l., Senior Notes, 8.5%, 07/15/2031 (f)(EUR)		B1				655
	1,470			Dana, Inc., Senior Notes, 5.625%, 06/15/2028		B1				1,430
	70			Ford Motor Company, Senior Notes, 7.45%, 07/16/2031		Ba1				76
	480			Ford Motor Company, Senior Notes, 9.625%, 04/22/2030		Ba1				562
	655			Ford Motor Credit Company LLC, Senior Notes, 7.35%, 03/06/2030		Ba1				698
	205			Global Auto Holdings Ltd., Senior Notes, 8.375%, 01/15/2029 (f)		B2				200
	510			Global Auto Holdings Ltd., Senior Notes, 8.75%, 01/15/2032 (f)		B2				493
	995			Goodyear Tire and Rubber Company, Senior Notes, 5.625%, 04/30/2033 (g)		B2				905
	416			Goodyear Tire and Rubber Company, Senior Notes, 5.25%, 07/15/2031 (g)		B2				378
	305			Jaguar Land Rover Automotive Plc, Senior Notes, 5.875%, 01/15/2028 (f)		Ba3				299
	1,265			Metis Merger Sub, LLC, Senior Notes, 6.5%, 05/15/2029 (f)		Caa2				1,202
	290			PHINIA, Inc., Senior Notes, 6.75%, 04/15/2029 (f)		Ba1				293
	3,500			Rivian Holdings, LLC, Senior Notes, 11.4932%, 10/15/2026 (d)(f)(g)		NR				3,525
	635			Tenneco, Inc., Senior Notes, 8%, 11/17/2028 (f)		B1				579
	1,075			Wand NewCo 3, Inc., Senior Notes, 7.625%, 01/30/2032 (f)		B3				1,110
	170			ZF North American Capital, Inc., Senior Notes, 6.875%, 04/14/2028 (f)		Ba1				175
	415			ZF North American Capital, Inc., Senior Notes, 7.125%, 04/14/2030 (f)		Ba1				436
										15,451
BUILDING & REAL ESTATE - 1.37%
	300			Brookfield Residential Properties, Senior Notes, 6.25%, 09/15/2027 (f)		B1				292
	180			Castle UK Finco, Plc, Senior Notes, 7%, 05/15/2029 (f)(GBP)		B1				211
	735			Cushman & Wakefield U.S. Borrower, LLC, Senior Notes, 6.75%, 05/15/2028 (f)		Ba3				726
	570			Howard Hughes Corporation, Senior Notes, 5.375%, 08/01/2028 (f)		Ba3				544
	645			Howard Hughes Corporation, Senior Notes, 4.125%, 02/01/2029 (f)		Ba3				577
	345			Howard Hughes Corporation, Senior Notes, 4.375%, 02/01/2031 (f)		Ba3				298
										2,648

The New America High Income Fund, Inc.

 

Schedule of Investments - March 31, 2024 (Unaudited) (Dollar Amounts in Thousands) - Continued

						Moody’s
Principal						Rating			Value
Amount/Units						(Unaudited)			(See Notes)
CORPORATE DEBT SECURITIES - continued
BUILDING PRODUCTS - 2.46%
	210			Advanced Drainage Systems, Inc., Senior Notes, 6.375%, 06/15/2030 (f)		Ba2				211
	175			Beacon Roofing Supply, Inc., Senior Notes, 6.5%, 08/01/2030 (f)		Ba2				177
	260			Builders FirstSource, Inc., Senior Notes, 6.375%, 06/15/2032 (f)		Ba2				263
	410			Builders FirstSource, Inc., Senior Notes, 6.375%, 03/01/2034 (f)		Ba2				412
	260			MITER Brands Acquisition Holdco, Inc., Senior Notes, 6.75%, 04/01/2032 (d)(f)		NR				261
	625			New Enterprise Stone and Lime Company, Inc., Senior Notes, 5.25%, 07/15/2028 (f)		B1				597
	395			Specialty Building Products Holdings, LLC, Senior Notes, 6.375%, 09/30/2026 (f)		B3				391
	475			SRS Distribution, Inc., Senior Notes, 6%, 12/01/2029 (f)		Caa2				485
	640			Summit Materials, LLC, Senior Notes, 6.5%, 03/15/2027 (f)		Ba3				639
	1,020			Summit Materials, LLC, Senior Notes, 5.25%, 01/15/2029 (f)		Ba3				989
	320			Summit Materials, LLC, Senior Notes, 7.25%, 01/15/2031 (f)		Ba3				332
										4,757
CABLE OPERATORS - 8.64%
	414			Altice Financing S.A., Senior Notes, 5%, 01/15/2028 (f)		B3				341
	795			Altice Financing S.A., Senior Notes, 5.75%, 08/15/2029 (f)		B3				632
	2,340			Altice France Holding S.A., Senior Notes, 6%, 02/15/2028 (f)		Ca				655
	1,620			Altice France Holding S.A., Senior Notes, 10.5%, 05/15/2027 (f)		Ca				608
	995			C&W Senior Financing DAC, Senior Notes, 6.875%, 09/15/2027 (f)		B2				939
	720			CCO Holdings, LLC, Senior Notes, 4.5%, 08/15/2030 (f)		B1				603
	1,090			CCO Holdings, LLC, Senior Notes, 4.5%, 06/01/2033 (f)		B1				850
	2,844			CCO Holdings, LLC, Senior Notes, 6.375%, 09/01/2029 (f)		B1				2,690
	1,425			CCO Holdings, LLC, Senior Notes, 7.375%, 03/01/2031 (f)		B1				1,393
	1,095			CSC Holdings, LLC, Senior Notes, 7.5%, 04/01/2028 (f)		Caa2				736
	741			CSC Holdings, LLC, Senior Notes, 6.5%, 02/01/2029 (f)		B2				628
	275			CSC Holdings, LLC, Senior Notes, 11.25%, 05/15/2028 (f)		B2				272
	1,385			CSC Holdings, LLC, Senior Notes, 11.75%, 01/31/2029 (f)		B2				1,387
	560			DIRECTV Financing, LLC, Senior Notes, 5.875%, 08/15/2027 (f)		Ba3				528
	720			Dish DBS Corporation, Senior Notes, 7.75%, 07/01/2026		Caa3				479
	450			Dish DBS Corporation, Senior Notes, 7.375%, 07/01/2028		Caa3				214
	690			Dish DBS Corporation, Senior Notes, 5.25%, 12/01/2026 (f)		Caa1				543
	147			Dish DBS Corporation, Senior Notes, 5.75%, 12/01/2028 (f)(g)		Caa1				101
	630			GCI, LLC, Senior Notes, 4.75%, 10/15/2028 (f)		B3				575
	202			LCPR Senior Secured Financing DAC, Senior Notes, 6.75%, 10/15/2027 (f)		B2				189
	172			Midcontinent Communications, Senior Notes, 5.375%, 08/15/2027 (f)		B3				163
	570			Radiate Holdco, LLC, Senior Notes, 6.5%, 09/15/2028 (f)		Ca				262
	2,190			VMed O2 UK Financing I, Plc, Senior Notes, 4.75%, 07/15/2031 (f)		Ba3				1,878
										16,666
CHEMICALS - 3.81%
	1,046			Avient Corporation, Senior Notes, 7.125%, 08/01/2030 (f)		Ba3				1,072
	310			Axalta Coating Systems Dutch Holding B B.V., Senior Notes, 7.25%, 02/15/2031 (f)		Ba3				321
	260			Celanese U.S. Holdings, LLC, Senior Notes, 6.55%, 11/15/2030		Baa3				273
	950			Celanese U.S. Holdings, LLC, Senior Notes, 6.7%, 11/15/2033		Baa3				1,010
	111			Compass Minerals International, Inc., Senior Notes, 6.75%, 12/01/2027 (f)		B1				107
	870			CVR Partners, L.P., Senior Notes, 6.125%, 06/15/2028 (f)		B1				833
	847			GPD Companies, Inc., Senior Notes, 10.125%, 04/01/2026 (f)		Caa1				790
	280			Methanex Corporation, Senior Notes, 5.25%, 12/15/2029		Ba1				267
	480			Methanex Corporation, Senior Notes, 5.125%, 10/15/2027		Ba1				464
	648			PMHC II, Inc., Senior Notes, 9%, 02/15/2030 (f)		Caa2				597
	715			W.R. Grace Holdings, LLC, Senior Notes, 5.625%, 08/15/2029 (f)		B3				639
	920			Windsor Holdings III, LLC, Senior Notes, 8.5%, 06/15/2030 (f)		B2				960
										7,333

The New America High Income Fund, Inc.

 

Schedule of Investments - March 31, 2024 (Unaudited) (Dollar Amounts in Thousands) - Continued

						Moody's
Principal						Rating			Value
Amount/Units						(Unaudited)			(See Notes)
CORPORATE DEBT SECURITIES - continued
CONSUMER PRODUCTS - 0.71%
	574			Life Time, Inc., Senior Notes, 5.75%, 01/15/2026 (f)		B1				570
	671			Life Time, Inc., Senior Notes, 8%, 04/15/2026 (f)		Caa1				679
	149			Wolverine World Wide, Inc., Senior Notes, 4%, 08/15/2029 (f)		Caa2				119
										1,368
CONTAINER - 1.96%
	905			Ball Corporation, Senior Notes, 6.875%, 03/15/2028		Ba1				928
	1,070			Ball Corporation, Senior Notes, 6%, 06/15/2029		Ba1				1,079
	430			Clydesdale Acquisition Holdings, Inc., Senior Notes, 8.75%, 04/15/2030 (f)		Caa2				422
	260			Sealed Air Corporation, Senior Notes, 6.875%, 07/15/2033 (f)		Ba2				270
	250			Sealed Air Corporation, Senior Notes, 5%, 04/15/2029 (f)		Ba2				240
	295			Sealed Air Corporation, Senior Notes, 6.125%, 02/01/2028 (f)		Ba2				296
	360			Sealed Air Corporation, Senior Notes, 7.25%, 02/15/2031 (f)		Ba2				374
	180			Trident TPI Holdings, Inc., Senior Notes, 12.75%, 12/31/2028 (f)		Caa2				192
										3,801
ENERGY - 19.95%
	1,335			Aethon United BR, L.P., Senior Notes, 8.25%, 02/15/2026 (f)		B3				1,345
	345			Amerigas Partners, L.P., Senior Notes, 9.375%, 06/01/2028 (f)		B1				355
	125			Antero Resources Corporation, Senior Notes, 7.625%, 02/01/2029 (f)		Ba2				128
	270			Archrock Partners, L.P., Senior Notes, 6.875%, 04/01/2027 (f)		B2				271
	1,175			Chesapeake Energy Corporation, Senior Notes, 6.75%, 04/15/2029 (f)		Ba2				1,184
	270			Civitas Resources, Inc., Senior Notes, 8.375%, 07/01/2028 (f)		B1				284
	400			Civitas Resources, Inc., Senior Notes, 8.75%, 07/01/2031 (f)		B1				428
	305			Civitas Resources, Inc., Senior Notes, 8.625%, 11/01/2030 (f)		B1				327
	1,015			Comstock Resources, Inc., Senior Notes, 6.75%, 03/01/2029 (f)		B3				968
	530			Comstock Resources, Inc., Senior Notes, 5.875%, 01/15/2030 (f)		B3				478
	1,060			Crescent Energy Finance, Senior Notes, 9.25%, 02/15/2028 (f)		B1				1,117
	620			Crescent Energy Finance, Senior Notes, 7.625%, 04/01/2032 (f)		B1				625
	525			Crestwood Midstream Partners, L.P., Senior Notes, 7.375%, 02/01/2031 (f)		Baa3				549
	540			Diamond Foreign Asset Company, Senior Notes, 8.5%, 10/01/2030 (f)		B3				567
	598			Endeavor Energy Resources, L.P., Senior Notes, 5.75%, 01/30/2028 (f)		Ba2				602
	189			Ferrellgas, L.P., Senior Notes, 5.375%, 04/01/2026 (f)		B2				185
	650			Ferrellgas, L.P., Senior Notes, 5.875%, 04/01/2029 (f)		B2				619
	440			Gulfport Energy Corporation, Senior Notes, 8%, 05/17/2026 (f)		B3				447
	305			Hilcorp Energy, L.P., Senior Notes, 5.75%, 02/01/2029 (f)		Ba2				297
	385			Hilcorp Energy, L.P., Senior Notes, 6%, 02/01/2031 (f)		Ba2				373
	240			Hilcorp Energy, L.P., Senior Notes, 6%, 04/15/2030 (f)		Ba2				234
	429			Hilcorp Energy, L.P., Senior Notes, 6.25%, 04/15/2032 (f)		Ba2				420
	860			Hilcorp Energy, L.P., Senior Notes, 8.375%, 11/01/2033 (f)		Ba2				929
	1,420			Kinetik Holdings, L.P., Senior Notes, 5.875%, 06/15/2030 (f)		Ba1				1,388
	1,036			Kinetik Holdings, L.P., Senior Notes, 6.625%, 12/15/2028 (f)		Ba1				1,050
	1,505			Magnolia Oil & Gas Operating, LLC, Senior Notes, 6%, 08/01/2026 (f)		B1				1,475
	385			Matador Resources Company, Senior Notes, 6.5%, 04/15/2032 (f)		B1				386
	305			NGL Energy Operating, LLC, Senior Notes, 8.125%, 02/15/2029 (f)		B2				312
	925			NGL Energy Operating, LLC, Senior Notes, 8.375%, 02/15/2032 (f)		B2				948

The New America High Income Fund, Inc.

 

Schedule of Investments - March 31, 2024 (Unaudited) (Dollar Amounts in Thousands) - Continued

						Moody’s
Principal						Rating			Value
Amount/Units						(Unaudited)			(See Notes)
CORPORATE DEBT SECURITIES - continued
	420			Northriver Midstream Finance L.P., Senior Notes, 5.625%, 02/15/2026 (f)		Ba3				414
	1,190			Nustar Logistics, L.P., Senior Notes, 6%, 06/01/2026		Ba3				1,181
	100			Occidental Petroleum Corporation, Senior Notes, 6.45%, 09/15/2036		Baa3				107
	790			Occidental Petroleum Corporation, Senior Notes, 7.95%, 06/15/2039		Baa3				923
	755			Occidental Petroleum Corporation, Senior Notes, 6.2%, 03/15/2040		Baa3				773
	500			Permian Resources Operating, LLC, Senior Notes, 9.875%, 07/15/2031 (f)		B1				556
	500			Permian Resources Operating, LLC, Senior Notes, 7%, 01/15/2032 (f)		B1				518
	620			Prairie Acquiror, L.P., Senior Notes, 9%, 08/01/2029 (f)		B3				639
	215			Range Resources Corporation, Senior Notes, 8.25%, 01/15/2029		Ba3				224
	270			Range Resources Corporation, Senior Notes, 4.75%, 02/15/2030 (f)		Ba3				252
	315			Rockcliff Energy II, LLC, Senior Notes, 5.5%, 10/15/2029 (f)		B3				294
	1,070			Seadrill Finance Ltd., Senior Notes, 8.375%, 08/01/2030 (f)		B2				1,113
	680			Silverbow Resources, Inc., Senior Notes, 13.07927%, 12/15/2028 (d)(f)		NR				665
	320			Solaris Midstream Holdings, LLC, Senior Notes, 7.625%, 04/01/2026 (f)		B3				322
	1,515			Southwestern Energy Company, Senior Notes, 4.75%, 02/01/2032		Ba2				1,392
	405			Tallgrass Energy Partners, L.P., Senior Notes, 6%, 03/01/2027 (f)		B1				398
	1,170			Tallgrass Energy Partners, L.P., Senior Notes, 6%, 12/31/2030 (f)		B1				1,109
	635			Tallgrass Energy Partners, L.P., Senior Notes, 6%, 09/01/2031 (f)		B1				592
	555			Tallgrass Energy Partners, L.P., Senior Notes, 7.375%, 02/15/2029 (f)		B1				556
	285			Transocean Aquila Ltd, Senior Notes, 8%, 09/30/2028 (f)		B2				291
	730			Transocean, Inc., Senior Notes, 6.8%, 03/15/2038		Caa3				613
	406			Transocean, Inc., Senior Notes, 11.5%, 01/30/2027 (f)		Caa1				423
	809			Transocean, Inc., Senior Notes, 8.75%, 02/15/2030 (f)		B2				841
	405			Valaris Ltd, Senior Notes, 8.375%, 04/30/2030 (f)		B1				415
	1,380			Venture Global Calcasieu Pass, LLC, Senior Notes, 6.25%, 01/15/2030 (f)		Ba2				1,383
	665			Venture Global LNG, Inc., Senior Notes, 8.125%, 06/01/2028 (f)		B1				678
	2,130			Venture Global LNG, Inc., Senior Notes, 8.375%, 06/01/2031 (f)		B1				2,190
	655			Venture Global LNG, Inc., Senior Notes, 9.5%, 02/01/2029 (f)		B1				706
	585			Vermilion Energy, Inc., Senior Notes, 6.875%, 05/01/2030 (f)		B3				569
										38,428
ENTERTAINMENT & LEISURE - 7.65%
	1,935			Carnival Corporation, Senior Notes, 7.625%, 03/01/2026 (f)		B3				1,953
	45			Carnival Corporation, Senior Notes, 6%, 05/01/2029 (f)		B3				44
	1,275			Carnival Corporation, Senior Notes, 10.5%, 06/01/2030 (f)		B3				1,395
	360			Carnival Corporation, Senior Notes, 7%, 08/15/2029 (f)		Ba2				376
	910			CDI Escrow Issuer, Inc., Senior Notes, 5.75%, 04/01/2030 (f)		B1				878
	531			Cedar Fair, L.P., Senior Notes, 5.25%, 07/15/2029		B3				502
	585			Cinemark USA, Inc., Senior Notes, 5.25%, 07/15/2028 (f)(g)		B2				553
	625			Live Nation Entertainment, Inc., Senior Notes, 4.75%, 10/15/2027 (f)		B2				595
	260			Merlin Entertainments Group U.S. Holdings, Inc., Senior Notes, 7.375%, 02/15/2031 (f)		B2				261
	370			Motion Finco, S.a.r.l., Senior Notes, 7.375%, 06/15/2030 (f)(EUR)		B2				416
	730			NCL Corporation Ltd., Senior Notes, 5.875%, 03/15/2026 (f)		Caa1				719
	340			NCL Corporation Ltd., Senior Notes, 5.875%, 02/15/2027 (f)		B1				335
	835			NCL Corporation Ltd., Senior Notes, 7.75%, 02/15/2029 (f)		Caa1				864
	245			NCL Corporation Ltd., Senior Notes, 8.125%, 01/15/2029 (f)		B1				258
	215			NCL Finance Ltd., Senior Notes, 6.125%, 03/15/2028 (f)		Caa1				212
	480			Royal Caribbean Cruises Ltd., Senior Notes, 5.5%, 04/01/2028 (f)		Ba2				473
	555			Royal Caribbean Cruises Ltd., Senior Notes, 5.375%, 07/15/2027 (f)		Ba2				545
	620			Royal Caribbean Cruises Ltd., Senior Notes, 9.25%, 01/15/2029 (f)		Ba1				663
	520			Royal Caribbean Cruises Ltd., Senior Notes, 8.25%, 01/15/2029 (f)		Baa2				551
	375			Royal Caribbean Cruises Ltd., Senior Notes, 6.25%, 03/15/2032 (f)		Ba2				378
	960			Seaworld Parks & Entertainment, Inc., Senior Notes, 5.25%, 08/15/2029 (f)		B2				898
	730			Six Flags Entertainment, Inc., Senior Notes, 5.5%, 04/15/2027 (f)		B3				714
	1,110			Six Flags Entertainment, Inc., Senior Notes, 7.25%, 05/15/2031 (f)		B3				1,127
										14,710

The New America High Income Fund, Inc.

 

Schedule of Investments - March 31, 2024 (Unaudited) (Dollar Amounts in Thousands) - Continued

						Moody’s
Principal						Rating			Value
Amount/Units						(Unaudited)			(See Notes)
CORPORATE DEBT SECURITIES - continued
FINANCIAL - 14.63%
	725			Acrisure, LLC, Senior Notes, 10.125%, 08/01/2026 (f)		Caa2				750
	460			Acrisure, LLC, Senior Notes, 8.25%, 02/01/2029 (f)		Caa2				461
	1,135			Alliant Holdings, Senior Notes, 6.75%, 10/15/2027 (f)		Caa2				1,114
	315			Alliant Holdings, Senior Notes, 5.875%, 11/01/2029 (f)		Caa2				292
	1,110			Alliant Holdings, Senior Notes, 7%, 01/15/2031 (f)		B2				1,120
	295			AmWins Group, Inc., Senior Notes, 4.875%, 06/30/2029 (f)		B3				274
	275			AmWins Group, Inc., Senior Notes, 6.375%, 02/15/2029 (f)		Ba3				276
	660			Apollo Commercial Real Estate Finance, Inc., Senior Notes, 4.625%, 06/15/2029 (f)		Ba3				554
	702			AssuredPartners, Inc., Senior Notes, 7.5%, 02/15/2032 (f)		Caa2				690
	475			Cobra Acquisition Company, LLC, Senior Notes, 6.375%, 11/01/2029 (f)		B2				400
	724			Enact Holdings, Inc., Senior Notes, 6.5%, 08/15/2025 (f)		Baa3				724
	1,225			GTCR AP Finance, Inc., Senior Notes, 8%, 05/15/2027 (f)		Caa2				1,225
	790			HUB International Ltd., Senior Notes, 5.625%, 12/01/2029 (f)		Caa2				740
	1,585			HUB International Ltd., Senior Notes, 7.25%, 06/15/2030 (f)		B2				1,625
	2,075			HUB International Ltd., Senior Notes, 7.375%, 01/31/2032 (f)		Caa2				2,082
	460			Icahn Enterprises, L.P., Senior Notes, 6.25%, 05/15/2026		Ba3				451
	490			Jane Street Group, LLC, Senior Notes, 4.5%, 11/15/2029 (f)		Ba2				453
	785			Jones Deslauriers Insurance Management, Inc., Senior Notes, 8.5%, 03/15/2030 (f)		B2				818
	950			Midcap Financial Issuer Trust, Senior Notes, 6.5%, 05/01/2028 (f)		B1				872
	480			Midcap Financial Issuer Trust, Senior Notes, 5.625%, 01/15/2030 (f)		B1				409
	197			Navient Corporation, Senior Notes, 6.75%, 06/15/2026		Ba3				198
	295			Navient Corporation, Senior Notes, 5%, 03/15/2027		Ba3				282
	685			Navient Corporation, Senior Notes, 4.875%, 03/15/2028		Ba3				635
	630			Navient Corporation, Senior Notes, 5.5%, 03/15/2029		Ba3				584
	1,495			Navient Corporation, Senior Notes, 9.375%, 07/25/2030		Ba3				1,592
	650			Navient Corporation, Senior Notes, 11.5%, 03/15/2031		Ba3				720
	247			Navient Corporation, Senior Notes, 5.625%, 08/01/2033		Ba3				203
	325			OneMain Finance Corporation, Senior Notes, 3.5%, 01/15/2027		Ba2				301
	485			OneMain Finance Corporation, Senior Notes, 7.875%, 03/15/2030		Ba2				500
	1,550			OneMain Finance Corporation, Senior Notes, 9%, 01/15/2029		Ba2				1,645
	610			OneMain Finance Corporation, Senior Notes, 6.625%, 01/15/2028		Ba2				612
	305			OneMain Finance Corporation, Senior Notes, 5.375%, 11/15/2029		Ba2				286
	1,385			Panther Escrow Issuer, LLC, Senior Notes, 7.125%, 06/01/2031 (f)		B2				1,404
	840			PennyMac Financial Services, Inc., Senior Notes, 4.25%, 02/15/2029 (f)		Ba3				762
	617			PennyMac Financial Services, Inc., Senior Notes, 7.875%, 12/15/2029 (f)		Ba3				632
	790			Prog Holdings, Inc., Senior Notes, 6%, 11/15/2029 (f)		B1				734
	235			Ryan Specialty Group, Senior Notes, 4.375%, 02/01/2030 (f)		B1				219
	188			SLM Corporation, Senior Notes, 4.2%, 10/29/2025		Ba1				183
	465			Starwood Property Trust, Senior Notes, 4.375%, 01/15/2027 (f)		Ba3				437
	320			United Wholesale Mortgage, LLC, Senior Notes, 5.5%, 04/15/2029 (f)		Ba3				302
	635			United Wholesale Mortgage, LLC, Senior Notes, 5.75%, 06/15/2027 (f)		Ba3				615
										28,176
FOOD - 1.45%
	270			B&G Foods, Inc., Senior Notes, 8%, 09/15/2028 (f)		B1				281
	610			BellRing Brands, Inc., Senior Notes, 7%, 03/15/2030 (f)		B2				628
	555			Chobani, LLC, Senior Notes, 7.625%, 07/01/2029 (f)		Caa1				562
	685			Darling Ingredients, Inc., Senior Notes, 6%, 06/15/2030 (f)		Ba2				677
	325			Post Holdings, Inc., Senior Notes, 6.25%, 02/15/2032 (f)		Ba1				326
	345			Triton Water Holdings, Inc., Senior Notes, 6.25%, 04/01/2029 (f)		Caa2				313
										2,787
FOREST PRODUCTS - 0.38%
	450			Cascades, Inc., Senior Notes, 5.375%, 01/15/2028 (f)		Ba3				431
	355			Graphic Packaging International, LLC, Senior Notes, 3.75%, 02/01/2030 (f)		Ba2				316
										747

The New America High Income Fund, Inc.

 

Schedule of Investments - March 31, 2024 (Unaudited) (Dollar Amounts in Thousands) - Continued

						Moody’s
Principal						Rating			Value
Amount/Units						(Unaudited)			(See Notes)
CORPORATE DEBT SECURITIES - continued
GAMING - 5.79%
	545			Caesars Entertainment, Inc., Senior Notes, 7%, 02/15/2030 (f)		Ba3				559
	380			Caesars Entertainment, Inc., Senior Notes, 6.5%, 02/15/2032 (f)		Ba3				384
	2,065			Caesars Entertainment, Inc., Senior Notes, 8.125%, 07/01/2027 (f)		B3				2,110
	580			Churchill Downs, Inc., Senior Notes, 6.75%, 05/01/2031 (f)		B1				582
	275			Cirsa Finance International, S.a.r.l., Senior Notes, 4.5%, 03/15/2027 (f)(EUR)		B2				290
	89			Cirsa Finance International, S.a.r.l., Senior Notes, 10.375%, 11/30/2027 (EUR)		B2				104
	125			Cirsa Finance International, S.a.r.l., , 6.5%, 03/15/2029 (f)(EUR)		B2				138
	1,170			International Game Technology Plc, Senior Notes, 6.25%, 01/15/2027 (f)		Ba1				1,174
	375			International Game Technology Plc, Senior Notes, 5.25%, 01/15/2029 (f)		Ba1				361
	260			Light & Wonder International, Inc., Senior Notes, 7.5%, 09/01/2031 (f)		B3				270
	120			Lottomatica SpA, Senior Notes, 7.125%, 06/01/2028 (f)(EUR)		Ba3				136
	435			MGM Growth Properties, LLC, Senior Notes, 5.75%, 02/01/2027 (d)		NR				433
	500			Midwest Gaming Borrower, LLC, Senior Notes, 4.875%, 05/01/2029 (f)		B3				460
	280			Ontario Gaming GTA L.P., Senior Notes, 8%, 08/01/2030 (f)		B3				288
	475			Playtika Holding Corporation, Senior Notes, 4.25%, 03/15/2029 (f)		B2				412
	565			SC Games Holdings, Senior Notes, 6.625%, 03/01/2030 (f)		Caa2				544
	530			Scientific Games Inernational, Inc., Senior Notes, 7%, 05/15/2028 (f)		B3				533
	1,390			Scientific Games Inernational, Inc., Senior Notes, 7.25%, 11/15/2029 (f)		B3				1,421
	995			Wynn Macau Ltd., Senior Notes, 5.5%, 10/01/2027 (f)		B1				950
	23			Wynn Resorts Finance, LLC, Senior Notes, 7.125%, 02/15/2031 (f)		B1				24
										11,173
HEALTHCARE - 10.58%
	1,240			Athena Health Group, Inc., Senior Notes, 6.5%, 02/15/2030 (f)		Caa2				1,132
	1,415			Avantor Funding, Inc., Senior Notes, 4.625%, 07/15/2028 (f)		B1				1,341
	540			Bausch & Lomb Escrow Corporation, Senior Notes, 8.375%, 10/01/2028 (f)		B1				559
	1,100			CHS/Community Health Systems, Inc., Senior Notes, 8%, 12/15/2027 (f)		Caa1				1,070
	455			CHS/Community Health Systems, Inc., Senior Notes, 6%, 01/15/2029 (f)		Caa1				396
	450			CHS/Community Health Systems, Inc., Senior Notes, 6.125%, 04/01/2030 (f)		Caa3				324
	345			CHS/Community Health Systems, Inc., Senior Notes, 5.25%, 05/15/2030 (f)		Caa1				280
	280			Iqvia, Inc., Senior Notes, 6.5%, 05/15/2030 (f)		Ba2				286
	585			LifePoint Health, Inc., Senior Notes, 9.75%, 12/01/2026 (f)		Caa2				586
	89			LifePoint Health, Inc., Senior Notes, 9.875%, 08/15/2030 (f)		B2				93
	1,165			LifePoint Health, Inc., Senior Notes, 11%, 10/15/2030 (f)		B2				1,245
	495			Medline Borrower, L.P., Senior Notes, 6.25%, 04/01/2029 (f)		B1				497
	1,815			Medline Borrower, L.P., Senior Notes, 5.25%, 10/01/2029 (f)		Caa1				1,714
	570			Molina Healthcare, Inc., Senior Notes, 4.375%, 06/15/2028 (f)		Ba2				536
	515			MPT Operating Partnership, L.P., Senior Notes, 5%, 10/15/2027		Ba2				431
	735			Organon & Company, Senior Notes, 5.125%, 04/30/2031 (f)		B1				650
	1,050			Select Medical Corporation, Senior Notes, 6.25%, 08/15/2026 (f)		B3				1,051
	514			STAR Parent, Inc., Senior Notes, 9%, 10/01/2030 (f)		B1				544
	424			Tenet Healthcare Corporation, Senior Notes, 6.875%, 11/15/2031		B3				440
	1,640			Tenet Healthcare Corporation, Senior Notes, 6.125%, 10/01/2028		B3				1,633
	1,060			Tenet Healthcare Corporation, Senior Notes, 6.125%, 06/15/2030		B1				1,056
	700			Tenet Healthcare Corporation, Senior Notes, 4.375%, 01/15/2030		B1				646
	405			Tenet Healthcare Corporation, Senior Notes, 6.75%, 05/15/2031 (f)		B1				412
	465			Teva Pharmaceutical Finance Netherlands III BV, Senior Notes, 6.75%, 03/01/2028		Ba2				476
	630			Teva Pharmaceutical Finance Netherlands III BV, Senior Notes, 4.75%, 05/09/2027		Ba2				610
	1,240			Teva Pharmaceutical Finance Netherlands III BV, Senior Notes, 5.125%, 05/09/2029		Ba2				1,190
	565			Teva Pharmaceutical Finance Netherlands III BV, Senior Notes, 8.125%, 09/15/2031		Ba2				619
	455			Teva Pharmaceutical Finance Netherlands III BV, Senior Notes, 7.875%, 09/15/2029		Ba2				489
										20,306
INFORMATION TECHNOLOGY - 8.14%
	340			Boxer Parent Company, Inc., Senior Notes, 7.125%, 10/02/2025 (f)		B2				340
	560			Boxer Parent Company, Inc., Senior Notes, 9.125%, 03/01/2026 (f)		Caa1				560

The New America High Income Fund, Inc.

 

Schedule of Investments - March 31, 2024 (Unaudited) (Dollar Amounts in Thousands) - Continued

 

						Moody’s
Principal						Rating			Value
Amount/Units						(Unaudited)			(See Notes)
CORPORATE DEBT SECURITIES - continued
	810			Capstone Borrower, Inc., Senior Notes, 8%, 06/15/2030 (f)		B2				837
	780			Central Parent, LLC, Senior Notes, 8%, 06/15/2029 (f)		B2				808
	1,950			Central Parent/CDK Global, Inc., Senior Notes, 7.25%, 06/15/2029 (f)		B2				1,982
	2,415			Cloud Software Group, Inc., Senior Notes, 9%, 09/30/2029 (f)		Caa2				2,305
	1,060			Cloud Software Group, Inc., Senior Notes, 6.5%, 03/31/2029 (f)		B2				1,003
	2,035			Entegris, Inc., Senior Notes, 5.95%, 06/15/2030 (f)		Ba2				2,012
	805			General Digital, Inc., Senior Notes, 6.75%, 09/30/2027 (f)		B1				815
	805			General Digital, Inc., Senior Notes, 7.125%, 09/30/2030 (f)		B1				827
	275			Go Daddy, Inc., Senior Notes, 5.25%, 12/01/2027 (f)		Ba3				268
	295			Match Group Holdings II, LLC, Senior Notes, 5%, 12/15/2027 (f)		Ba3				282
	148			Match Group Holdings II, LLC, Senior Notes, 5.625%, 02/15/2029 (f)		Ba3				143
	965			Match Group Holdings II, LLC, Senior Notes, 4.125%, 08/01/2030 (f)		Ba3				855
	305			Match Group Holdings II, LLC, Senior Notes, 4.625%, 06/01/2028 (f)		Ba3				287
	475			Match Group Holdings II, LLC, Senior Notes, 3.625%, 10/01/2031 (f)		Ba3				404
	920			McAfee Corporation, Senior Notes, 7.375%, 02/15/2030 (f)		Caa2				846
	475			Roblox Corporation, Senior Notes, 3.875%, 05/01/2030 (f)		Ba2				417
	285			Twilio, Inc., Senior Notes, 3.625%, 03/15/2029		Ba3				255
	510			Twilio, Inc., Senior Notes, 3.875%, 03/15/2031		Ba3				445
										15,691
LODGING - 0.83%
	305			Hilton Domestic Operating Company, Inc., Senior Notes, 6.125%, 04/01/2032 (f)		Ba2				305
	300			Park Intermediate Holdings, LLC, Senior Notes, 5.875%, 10/01/2028 (f)		B1				294
	370			Park Intermediate Holdings, LLC, Senior Notes, 4.875%, 05/15/2029 (f)		B1				344
	630			RHP Hotel Properties, L.P., Senior Notes, 4.5%, 02/15/2029 (f)		B1				587
	75			RHP Hotel Properties, L.P., Senior Notes, 7.25%, 07/15/2028 (f)		B1				77
										1,607
MANUFACTURING - 1.90%
	325			Hillenbrand, Inc., Senior Notes, 3.75%, 03/01/2031		Ba1				281
	735			Madison IAQ, LLC, Senior Notes, 4.125%, 06/30/2028 (f)		B2				678
	420			Madison IAQ, LLC, Senior Notes, 5.875%, 06/30/2029 (f)		Caa2				384
	765			Mueller Water Products, Senior Notes, 4%, 06/15/2029 (f)		Ba1				690
	735			Sensata Technologies, Inc., Senior Notes, 4%, 04/15/2029 (f)		Ba2				671
	700			Sensata Technologies, Inc., Senior Notes, 5.875%, 09/01/2030 (f)		Ba2				683
	270			Stevens Holding Company, Inc., Senior Notes, 6.125%, 10/01/2026 (d)(f)		NR				268
										3,655
MEDIA - 6.32%
	1,080			Clear Channel Outdoor Holdings, Inc., Senior Notes, 7.75%, 04/15/2028 (f)		Caa3				942
	540			Clear Channel Outdoor Holdings, Inc., Senior Notes, 7.5%, 06/01/2029 (f)		Caa3				446
	1,340			Clear Channel Outdoor Holdings, Inc., Senior Notes, 9%, 09/15/2028 (f)		B2				1,392
	440			Clear Channel Outdoor Holdings, Inc., Senior Notes, 7.875%, 04/01/2030 (f)		B2				438
	1,130			CMG Media Corporation, Senior Notes, 8.875%, 12/15/2027 (f)		Caa3				751
	755			Gray Escrow II, Inc., Senior Notes, 5.375%, 11/15/2031 (f)		Caa1				495
	440			iHeart Communications, Inc., Senior Notes, 8.375%, 05/01/2027 (g)		Caa3				243
	74			Lamar Media Corporation, Senior Notes, 4%, 02/15/2030		Ba3				67
	681			Lamar Media Corporation, Senior Notes, 4.875%, 01/15/2029		Ba3				654
	1,570			Midas Opco Holdings, LLC, Senior Notes, 5.625%, 08/15/2029 (f)		B2				1,421
	805			Neptune Bidco US, Inc., Senior Notes, 9.29%, 04/15/2029 (f)		B2				760
	200			Outfront Media Capital, LLC, Senior Notes, 7.375%, 02/15/2031 (f)		Ba1				209
	987			Sirius XM Radio, Inc., Senior Notes, 5%, 08/01/2027 (f)		Ba3				948
	740			Sirius XM Radio, Inc., Senior Notes, 4.125%, 07/01/2030 (f)		Ba3				646
	1,285			Sirius XM Radio, Inc., Senior Notes, 4%, 07/15/2028 (f)		Ba3				1,173
	284			Townsquare Media, Inc., Senior Notes, 6.875%, 02/01/2026 (f)		B2				277
	590			Univision Communications, Inc., Senior Notes, 7.375%, 06/30/2030 (f)		B1				581
	715			Univision Communications, Inc., Senior Notes, 8%, 08/15/2028 (f)		B1				728
										12,171

The New America High Income Fund, Inc.

 

Schedule of Investments - March 31, 2024 (Unaudited) (Dollar Amounts in Thousands) - Continued

						Moody’s
Principal						Rating			Value
Amount/Units						(Unaudited)			(See Notes)
CORPORATE DEBT SECURITIES - continued
METALS & MINING - 2.97%
	300			Arsenal AIC Parent, LLC, Senior Notes, 8%, 10/01/2030 (f)		Ba3				314
	515			Arsenal AIC Parent, LLC, Senior Notes, 11.5%, 10/01/2031 (d)(f)		NR				574
	300			ATI, Inc., Senior Notes, 5.125%, 10/01/2031		B1				278
	210			ATI, Inc., Senior Notes, 7.25%, 08/15/2030		B1				217
	708			Big River Steel, LLC, Senior Notes, 6.625%, 01/31/2029 (f)		Ba2				709
	405			Ero Copper Corporation, Senior Notes, 6.5%, 02/15/2030 (f)		B1				384
	445			FMG Resources, Senior Notes, 5.875%, 04/15/2030 (f)		Ba1				436
	101			Graftech Global Enterprises, Inc., Senior Notes, 9.875%, 12/15/2028 (f)		B2				75
	1,145			Hecla Mining Company, Senior Notes, 7.25%, 02/15/2028		B2				1,145
	545			Hudbay Minerals, Inc., Senior Notes, 6.125%, 04/01/2029 (f)		B2				536
	340			Mineral Resources Ltd., Senior Notes, 9.25%, 10/01/2028 (f)		Ba3				358
	745			Novelis Corporation, Senior Notes, 4.75%, 01/30/2030 (f)		Ba3				687
										5,713
OTHER TELECOMMUNICATIONS - 0.49%
	950			Iliad Holding SAS, Senior Notes, 6.5%, 10/15/2026 (f)		B2				937
	475			Level 3 Financing, Inc., Senior Notes, 3.75%, 07/15/2029 (f)		Caa2				207
										1,144
REITS - 1.21%
	915			Necessity Retail, Inc., Senior Notes, 4.5%, 09/30/2028 (d)(f)		NR				780
	580			Service Properties Trust, Senior Notes, 7.5%, 09/15/2025		B1				587
	920			Service Properties Trust, Senior Notes, 8.625%, 11/15/2031 (f)		B1				980
										2,347
RESTAURANTS - 0.79%
	760			YUM Brands, Inc., Senior Notes, 6.875%, 11/15/2037		Ba3				825
	723			YUM Brands, Inc., Senior Notes, 5.35%, 11/01/2043		Ba3				688
										1,513
RETAIL - 1.46%
	143			At Home Cayman, Inc., Senior Notes, 11.5%, 05/12/2028 (f)		Caa3				100
	240			At Home Group, Inc., Senior Notes, 4.875%, 07/15/2028 (f)		Caa3				109
	308			At Home Group, Inc., Senior Notes, 7.125%, 05/12/2028 (f)		Caa3				140
	65			Bath & Body Works, Inc., Senior Notes, 6.694%, 01/15/2027		Ba2				66
	350			Bath & Body Works, Inc., Senior Notes, 7.5%, 06/15/2029 (g)		Ba2				363
	277			Bath & Body Works, Inc., Senior Notes, 9.375%, 07/01/2025 (f)		Ba2				288
	1,005			Bath & Body Works, Inc., Senior Notes, 6.625%, 10/01/2030 (f)		Ba2				1,024
	355			Bath & Body Works, Inc., Senior Notes, 6.95%, 03/01/2033		B1				352
	405			Petsmart, Inc., Senior Notes, 7.75%, 02/15/2029 (f)		B3				394
										2,836
SATELLITES - 1.56%
	1,365			Connect Finco SARL, Senior Notes, 6.75%, 10/01/2026 (f)		B1				1,338
	287			Hughes Satellite Systems, Inc., Senior Notes, 6.625%, 08/01/2026		Caa3				168
	445			Intelsat Jackson Holdings Ltd., Senior Notes, 6.5%, 03/15/2030 (f)		B2				414
	475			Telesat Canada, Senior Notes, 6.5%, 10/15/2027 (f)		Caa3				190
	650			Viasat, Inc., Senior Notes, 5.625%, 04/15/2027 (f)		Ba3				613
	400			Viasat, Inc., Senior Notes, 7.5%, 05/30/2031 (f)		Caa1				290
										3,013
SERVICES - 9.17%
	451			Adtalem Global Education, Inc., Senior Notes, 5.5%, 03/01/2028 (f)		Ba3				430
	445			Advantage Sales & Marketing, Inc., Senior Notes, 6.5%, 11/15/2028 (f)		B2				418
	635			Albion Financing 1 SARL, Senior Notes, 6.125%, 10/15/2026 (f)		B1				628
	315			Albion Financing 2 SARL, Senior Notes, 8.75%, 04/15/2027 (f)		B3				315

The New America High Income Fund, Inc.

 

Schedule of Investments - March 31, 2024 (Unaudited) (Dollar Amounts in Thousands) - Continued

						Moody’s
Principal						Rating			Value
Amount/Units						(Unaudited)			(See Notes)
CORPORATE DEBT SECURITIES - continued
	1,600			Allied Universal Holdco, LLC, Senior Notes, 9.75%, 07/15/2027 (f)		Caa2				1,599
	720			Allied Universal Holdco, LLC, Senior Notes, 6%, 06/01/2029 (f)(g)		Caa2				619
	1,093			Allied Universal Holdco, LLC, Senior Notes, 7.875%, 02/15/2031 (f)		B3				1,103
	530			EG Global Finance, Plc, Senior Notes, 12%, 11/30/2028 (f)		B3				560
	405			GFL Environmental, Inc., Senior Notes, 6.75%, 01/15/2031 (f)		Ba3				415
	1,070			GTCR W-2 Merger Sub, LLC, Senior Notes, 7.5%, 01/15/2031 (f)		Ba3				1,117
	1,265			H&E Equipment Services, Senior Notes, 3.875%, 12/15/2028 (f)		B1				1,153
	100			Itelyum Regeneration SpA, Senior Notes, 4.625%, 10/01/2026 (f)(EUR)		B2				106
	170			Loxam S.A.S., CVT, 6.375%, 05/31/2029 (d)(f)(EUR)		NR				191
	685			Presidio Holding, Inc., Senior Notes, 8.25%, 02/01/2028 (f)		Caa1				682
	424			Prime Security Services Borrower, LLC, Senior Notes, 6.25%, 01/15/2028 (f)		B2				416
	290			Ritchie Bros. Holdings, Inc., Senior Notes, 6.75%, 03/15/2028 (f)		Ba2				295
	390			Ritchie Bros. Holdings, Inc., Senior Notes, 7.75%, 03/15/2031 (f)		B1				407
	295			Sabre GLBL, Inc., Senior Notes, 11.25%, 12/15/2027 (f)		B3				275
	1,460			TK Elevator U.S. Newco, Inc., Senior Notes, 5.25%, 07/15/2027 (f)		B2				1,405
	1,125			TK Elevator U.S. Newco, Inc., Senior Notes, 6.625%, 07/15/2028 (EUR)		Caa1				1,175
	2,990			UKG, Inc., Senior Notes, 6.875%, 02/01/2031 (f)		B2				3,034
	775			United Rentals (North America), Inc., Senior Notes, 3.75%, 01/15/2032		Ba2				675
	275			United Rentals (North America), Inc., Senior Notes, 6.125%, 03/15/2034 (f)		Ba2				275
	363			Williams Scotsman, Inc., Senior Notes, 7.375%, 10/01/2031 (f)		B2				377
										17,670
SUPERMARKETS - 0.19%
	100			Iceland Bondco Plc, Senior Notes, 4.625%, 03/15/2025 (GBP)		B3				125
	100			Iceland Bondco Plc, Senior Notes, 10.875%, 12/15/2027 (f)(GBP)		B3				133
	100			Iceland Bondco Plc, Senior Notes, 9.401%, 12/15/2027 (f)(EUR)		B3				109
										367
TRANSPORTATION - 0.40%
	779			Watco Companies, LLC, Senior Notes, 6.5%, 06/15/2027 (f)		Caa1				767
UTILITIES - 7.66%
	310			Calpine Corporation, Senior Notes, 4.5%, 02/15/2028 (f)		Ba2				294
	950			Calpine Corporation, Senior Notes, 5.125%, 03/15/2028 (f)		B2				908
	625			Calpine Corporation, Senior Notes, 5%, 02/01/2031 (f)		B2				573
	548			HAT Holdings I, LLC, Senior Notes, 8%, 06/15/2027 (f)		Baa3				571
	203			NRG Energy, Inc., Senior Notes, 10.25%, 12/31/2099 (b)(f)		Ba3				217
	1,065			PG&E Corporation, Senior Notes, 5%, 07/01/2028		Ba3				1,028
	1,300			PG&E Corporation, Senior Notes, 5.25%, 07/01/2030		Ba3				1,236
	1,700			Talen Energy Supply, LLC, Senior Notes, 8.625%, 06/01/2030 (f)		Ba3				1,818
	1,795			Terraform Global Operating, LLC, Senior Notes, 6.125%, 03/01/2026 (f)		Ba3				1,759
	716			Terraform Power Operating, LLC, Senior Notes, 5%, 01/31/2028 (f)		Ba3				680
	195			TransAlta Corporation, Senior Notes, 7.75%, 11/15/2029		Ba1				202
	3,120			Vistra Corp., Senior Notes, 8%, 12/31/2099 (b)(f)		Ba3				3,166
	2,124			Vistra Corp., Senior Notes, 7%, 12/31/2099 (b)(f)		Ba3				2,103
	239			Vistra Corp., Senior Notes, 8.875%, 12/31/2099 (b)(d)(f)		NR				247
										14,802
WIRELESS COMMUNICATIONS - 0.14%
	285			U.S. Cellular Corp., Senior Notes, 6.7%, 12/15/2033		Ba2				279
				Total Corporate Debt Securities
				(Total cost of $267,664)						260,190
BANK DEBT SECURITIES - 5.63% (c) (e)
AIRLINES - 0.27%
	504			Mileage Plus Holdings, LLC, Senior Notes, 10.733%, 06/21/2027		Baa3				518

The New America High Income Fund, Inc.

 

Schedule of Investments - March 31, 2024 (Unaudited) (Dollar Amounts in Thousands) - Continued

						Moody’s
Principal						Rating			Value
Amount/Units						(Unaudited)			(See Notes)
BANK DEBT SECURITIES - continued
CABLE OPERATORS - 0.22%
	510			Radiate Holdco, LLC, Senior Notes, 8.695%, 09/25/2026		Caa1				426
CHEMICALS - 0.08%
	147			PMHC II, Inc., Senior Notes, 9.304%, 04/23/2029		B3				146
FINANCIAL - 1.00%
	1,920			Truist Insurance Holdings, LLC, Senior Notes, 10.069%, 03/08/2032		Caa2				1,930
SERVICES - 1.53%
	1,130			Ascend Learning, LLC, Senior Notes, 11.18%, 12/10/2029		Caa2				1,110
	1,808			Ultimate Software Group, Inc., Senior Notes, 10.68%, 05/03/2027		Caa1				1,821
										2,931
WIRELESS COMMUNICATIONS - 2.53%
	3,664			Asurion, LLC, Senior Notes, 10.692%, 01/31/2028		B3				3,288
	1,785			Asurion, LLC, Senior Notes, 10.692%, 01/20/2029		B3				1,590
										4,878
				Total Bank Debt Securities
				(Total cost of $11,179)						10,829
CONVERTIBLE BONDS - 0.16% (c) (e)
AUTOMOTIVE - 0.16%
	375			Rivian Automotive, Inc., Senior Notes, 4.625%, 03/15/2029 (d)		NR				308
				Total Convertible Bonds
				(Total cost of $390)						308

 

									Value
Shares									(See Notes)
COMMON STOCK - 0.80% (c) (e)
HEALTHCARE - 0.61%
	25,020			Avantor, Inc. (a)						640
	2,163			Becton Dickinson and Company						535
										1,175
INFORMATION TECHNOLOGY - 0.19%
	7,277			CIENA Corp. (a)						360
				Total Common Stock
				(Total cost of $1,460)						1,535
				TOTAL INVESTMENTS - 141.64% - (Total cost of $280,693)						272,862
				CASH AND OTHER ASSETS LESS LIABILITIES - (41.64%)						(80,222	)
				NET ASSETS - 100.00%					$	192,640

 

(a)

Non-income producing investment

(b)

Perpetual security with no stated maturity date

(c)

Percentages indicated are based on total net assets to common shareholders of $192,640.

(d)

Not rated.

(e)

All of the Fund's investments and other assets are pledged as collateral in accordance with a credit agreement with State Street Bank.

(f)

Securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers in transactions exempt from registration. Unless otherwise noted, 144A Securities are deemed to be liquid. See notes to the portfolio of investments for valuation policy. Total market value of Rule 144A securities amounted to $216,972 as of March 31, 2024.

(g)

All or a portion of this security was on loan at March 31, 2024. The aggreagate value of securities on loan at March 31, 2024 was $2,147.

(EUR) Euro 

(GBP) British Pound 

Derivative Contracts (Currency Amounts in Thousands)                

 

Forward Currency Exchange Contracts - As of March 31, 2024 the Fund had forward currency exchange concracts outstanding as follows:    

 

																						Unrealized
		Settlement								Receive												Appreciation
Counterparty		Date								(Deliver)				Asset				Liability				(Depreciation)
HSBC Bank			5/2/2024				GBP				(372	)		$	470			$	470			$	-
HSBC Bank			4/3/2024				GBP				372				470				470				-
Royal Bank of Canada			5/2/2024				EUR				(3,054	)			3,302				3,299				3
Royal Bank of Canada			4/3/2024				EUR				3,054				3,295				3,298				(3	)
Royal Bank of Canada			4/3/2024				EUR				(3,054	)			3,309				3,295				14
UBS AG			4/3/2024				GBP				(372	)			471				470				1
Net unrealized gain on open forward currency exchange contracts																						$	15

The New America High Income Fund, Inc.

 

Notes to Schedule of Investments

March 31, 2024 (Unaudited)

The New America High Income Fund, Inc. (the Fund) was organized as a corporation in the state of Maryland on November 19, 1987 and is registered with the Securities and Exchange Commission as a diversified, closed-end investment company under the Investment Company Act of 1940. The Fund follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standard Codification Topic 946 "Financial Services Investment Companies".

 

Valuation of Investments—The Fund's Board of Directors has adopted policies and procedures to fair value securities that are not readily available consistent with the requirements of Rule 2a-5 under the 1940 Act. The Fund’s Board of Directors are the “valuation designee”, which performs fair valuations pursuant to Rule 2a-5. Except as otherwise described below, the Fund's investments are valued based on evaluated bid prices provided by an independent pricing service. Independent pricing services provide prices based primarily on quotations from dealers and brokers, market transactions, data accessed from quotations services, offering sheets obtained from dealers and various relationships among similar securities. Investments whose primary market is on an exchange are valued at the last sale price on the day of valuation. Short-term investments with original maturities of 60 days or less are stated at amortized cost, which approximates the fair value of such investments. Investments for which market prices are not yet provided by an independent pricing service (primarily newly issued fixed-income corporate bonds and notes) shall be valued at the most recently quoted bid price provided by a principal market maker for the security. Fair value measurement is further discussed in this footnote.

 

Foreign Currency—Investment securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the date of valuation. When entering into a forward currency contract, the Fund agrees to receive or deliver a fixed quantity of foreign currency for an agreed upon price on an agreed future date.

 

Fair Value Measurement—The Fund applies ASC 820 "Fair Value Measurements and Disclosures". This standard establishes the definition of fair value, sets out a framework for measuring fair value and requires additional disclosures about fair value measurements.

 

The three levels of the fair value hierarchy under ASC 820 are described below:

 

Level 1—Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

 

Level 2—Observable inputs other than quoted prices included in level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

 

Level 3—Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.

 

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in level 3.

 

The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety, is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

 

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

 

A description of the valuation techniques applied to the Fund's major asset and liability categories is as follows.

 

Debt securities (corporate, U.S. Treasury, convertible & bank debt). The fair value of debt securities is provided by independent pricing services using quotations from dealers and brokers, market transactions, data from quotations services, offering sheets and various relationships between securities. While most corporate bonds are categorized in level 2 of the fair value hierarchy, there may be instances where less observable inputs necessitate a level 3 categorization. 

The New America High Income Fund, Inc.

 

Notes to Financial Statements - Continued

March 31, 2024 (Unaudited)

Equity securities (preferred and common stock). Equity securities for which the primary market is on an exchange will be valued at the last sale price on the day of valuation and are categorized in level 1 of the fair value hierarchy. Other equity securities traded in inactive markets or valued by independent pricing services using methods similar to debt securities are categorized in level 2. The fair value of equity securities in which observable inputs are unavailable are categorized in level 3.

 

Short-term investments. Short-term investments are valued using amortized cost, which approximates fair value. To the extent the inputs are observable and timely the values would be categorized in level 2 of the fair value hierarchy.

 

Forwards are valued at the unrealized gain or loss on the contract as measured by the difference between the forward exchange rates at the date of entry into the contract and the forward rates at the reporting date. Forwards are categorized in level 2 of the fair value hierarchy.

 

The following is a summary of the inputs used as of March 31, 2024 in valuing the Fund's investments:

 

		Level 1				Level 2				Level 3				Total Value
Investments			Quoted Prices (000's)				Significant Observable Inputs (000's)				Significant Unobservable Inputs (000's)				(000's)
Debt Securities*		$	-			$	271,327			$	-			$	271,327
Common Stock
Healthcare			1,175				-				-				1,175
Manufacturing			360				-				-				360
Total Investments		$	1,535			$	271,327			$	-			$	272,862
Forward Currency Exchange Contracts		$	-			$	15			$	-			$	15

 

*

Debt Securities - Type of debt and industries are shown on the Schedule of Investments.

 

The following provides information on Level 3 securities held by the Fund that were valued at period end based on unobservable inputs.

 

The Fund did not own any Level 3 securities at March 31, 2024.

 

The following is a reconciliation of Fund investments using Level 3 inputs for the period:

 

		Securities
		(000's)
Balance, December 31, 2023		$	991
Sales			(320	)
Transfers out			(666	)
Change in unrealized appreciation/(depreciation)			(5	)
Balance, March 31, 2024		$	-

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