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Sunamerica Senior Floating Rate Fund Inc. – ‘N-CSRS’ for 6/30/21

On: Wednesday, 9/8/21, at 2:59pm ET · Effective: 9/8/21 · For: 6/30/21 · Accession #: 1193125-21-267749 · File #: 811-08727

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 9/08/21  Sunamerica Sr Floating Rate … Inc N-CSRS      6/30/21    3:1.6M                                   Donnelley … Solutions/FA
          → AIG Senior Floating Rate Fund ⇒ Class A (SASFX) — Class C (NFRCX) — Class W (NFRWX)

Semi-Annual Certified Shareholder Report by an Investment Company — Form N-CSR — ICA’40

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: N-CSRS      Semi-Annual Certified Shareholder Report by an      HTML   1.06M 
                Investment Company                                               
 3: EX-99.906 CERT  Certification -- §906 - SOA'02                  HTML      6K 
 2: EX-99.CERT  Certification -- §302 - SOA'02                      HTML     12K

‘N-CSRS’ — Semi-Annual Certified Shareholder Report by an Investment Company

Document Table of Contents

Page	(sequential)	(alphabetic)	↑Top
		Alternative Formats (Word, et al.) Approval of the Investment Advisory and Management Agreement and Subadvisory Agreement Expense Example Financial Highlights Notes to Financial Statements Portfolio of Investments Proxy Voting Results Shareholders' Letter Statement of Assets and Liabilities Statement of Changes in Net Assets Statement of Operations Statement Regarding Liquidity Risk Management Program Table of Contents
1	1st Page – Filing Submission
"	Table of Contents
"	Shareholders' Letter
"	Expense Example
"	Statement of Assets and Liabilities
"	Statement of Operations
"	Statement of Changes in Net Assets
"	Financial Highlights
"	Portfolio of Investments
"	Notes to Financial Statements
"	Statement Regarding Liquidity Risk Management Program
"	Approval of the Investment Advisory and Management Agreement and Subadvisory Agreement
"	Proxy Voting Results

This is an HTML Document rendered as filed. [ Alternative Formats ]

Form N-CSRS

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-08727

SunAmerica Senior Floating Rate Fund, Inc.

(Exact name of registrant as specified in charter)

Harborside 5, 185 Hudson Street, Jersey City, NJ 07311

(Address of principal executive offices) (Zip code)

John T. Genoy

Senior Vice President

SunAmerica Asset Management, LLC

Harborside 5, 185 Hudson Street

Jersey City, NJ 07311

(Name and address of agent for service)

Registrant’s telephone number, including area code: (201) 324-6414

Date of fiscal year end: December 31

Date of reporting period: June 30, 2021

Item 1.

Reports to Stockholders

SEMI-ANNUAL REPORT 2021

AIG

Senior Floating

Rate Fund

LOGO

aig.com/funds

Table of Contents


SHAREHOLDERS’ LETTER			2
EXPENSE EXAMPLE			3
STATEMENT OF ASSETS AND LIABILITIES			5
STATEMENT OF OPERATIONS			6
STATEMENT OF CHANGES IN NET ASSETS			7
FINANCIAL HIGHLIGHTS			8
PORTFOLIO OF INVESTMENTS			10
NOTES TO FINANCIAL STATEMENTS			19
STATEMENT REGARDING LIQUIDITY RISK MANAGEMENT PROGRAM			31
APPROVAL OF THE INVESTMENT ADVISORY AND MANAGEMENT AGREEMENT AND SUBADVISORY AGREEMENT			32
PROXY VOTING RESULTS			37

June 30, 2021 SEMI-ANNUAL REPORT

Shareholders’ Letter — (unaudited)

Dear Shareholders:

The semi-annual report for the AIG Senior Floating Rate Fund, Inc. (the “Fund”) is enclosed. The report contains investment portfolio information and the financial statements for the period ended June 30, 2021. On July 16, 2021, the Fund reorganized with and into Touchstone Credit Opportunities Fund, a series of Touchstone Funds Group Trust.

Thank you for the confidence you placed in us.

Sincerely,

THE AIG SENIOR FLOATING RATE FUND PORTFOLIO MANAGER

Jeffrey W. Heuer

Wellington Management Company LLP

Past performance is no guarantee of future results.

The Fund is not a money market fund and its net asset value may fluctuate. Investments in loans involve certain risks including nonpayment of principal and interest; collateral impairment; non-diversification and borrower industry concentration; and lack of an active trading market, in certain cases, which may impair the Fund’s ability to obtain full value for loans sold. The Fund may invest all or substantially all of its assets in loans or other securities (e.g., unsecured loans or high yield securities) that are rated below investment grade, or in comparable unrated securities. Credit risks include the possibility of a default on the loan or bankruptcy of the borrower. The value of these loans is subject to a greater degree of volatility in response to interest rate fluctuations.

SunAmerica Senior Floating Rate Fund, Inc.

EXPENSE EXAMPLE — June 30, 2021 — (unaudited)

Disclosure of Portfolio Expenses in Shareholder Reports

As a shareholder of the AIG Senior Floating Rate Fund (the “Fund”), you may incur two types of costs: (1) transaction costs, including sales charges on purchase payments and contingent deferred sales charges and (2) ongoing costs, including management fees, distribution and account maintenance fees, and other Fund expenses. The example set forth below is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at January 1, 2021 and held until June 30, 2021.

Actual Expenses

The “Actual” section of the table provides information about actual account values and actual expenses. You may use the information in these columns, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the column under the heading entitled “Expenses Paid During the Six Months Ended June 30, 2021” to estimate the expenses you paid on your account during this period. The “Expenses Paid During the Six Months Ended June 30, 2021” column and the “Annualized Expense Ratio” column do not include small account fees that may be charged if your account balance is below $500 ($250 for retirement plan accounts). In addition, the “Expenses Paid During the Six Months Ended June 30, 2021” column and the “Annualized Expense Ratio” column do not include administrative or other fees that may apply to qualified retirement plan accounts and accounts held through financial institutions. See the Fund’s prospectus, your retirement plan documents and/or materials from your financial adviser, for a full description of these fees. Had these fees been included, the “Expenses Paid During the Six Months Ended June 30, 2021” column would have been higher and the “Ending Account Value” column would have been lower.

Hypothetical Example for Comparison Purposes

The “Hypothetical” section of the table provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an annual rate of return of 5% before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in this Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other funds. The “Expenses Paid During the Six Months Ended June 30, 2021” column and the “Annualized Expense Ratio” column do not include small account fees that may be charged if your account balance is below $500 ($250 for retirement plan accounts). In addition, the “Expenses Paid During the Six Months Ended June 30, 2021” column and the “Annualized Expense Ratio” column do not include administrative or other fees that may apply to qualified retirement plan accounts and accounts held through financial institutions. See the Fund’s prospectus, your retirement plan document and/or materials from your financial adviser for full description of these fees. Had these fees been included, the “Expenses Paid During the Six Months Ended June 30, 2021” column would have been higher and the “Ending Account Value” column would have been lower.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs, including sales charges on purchase payments, contingent deferred sales charges and administrative fees, if applicable to your account. Please refer to the Fund’s prospectus, qualified retirement plan document and/or materials from your financial adviser, for more information. Therefore, the “Hypothetical” example is useful in comparing ongoing costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transaction costs and other fees were included, your costs would have been higher.

SunAmerica Senior Floating Rate Fund, Inc.

EXPENSE EXAMPLE — June 30, 2021 — (unaudited) (continued)


	Actual						Hypothetical
	Beginning Account Value at January 1, 2021		Ending Account Value Using Actual Return at June 30, 2021		Expenses Paid During the Six Months Ended June 30, 2021*		Beginning Account Value at January 1, 2021		Ending Account Value Using a Hypothetical 5% Annual Return at June 30, 2021*		Expenses Paid During the Six Months Ended June 30, 2021*		Annualized Expense Ratio*
AIG Senior Floating Rate Fund#
Class A	$	1,000.00	$	1,024.27	$	5.12	$	1,000.00	$	1,019.74	$	5.11		1.02	%
Class C	$	1,000.00	$	1,022.11	$	7.12	$	1,000.00	$	1,017.75	$	7.10		1.42	%
Class W	$	1,000.00	$	1,025.55	$	4.12	$	1,000.00	$	1,020.73	$	4.11		0.82	%

Expenses are equal to the Fund’s annualized expense ratio multiplied by the average account value over the period, multiplied by 181 days then divided by 365 days (to reflect the one-half year period). These ratios do not reflect transaction costs, including sales charges on purchase payments, contingent deferred sales charges, small account fees and administrative fees, if applicable to your account. Please refer to your Prospectus, your qualified retirement plan document and/or materials from your financial advisor for more information.

During the stated period, the investment adviser either waived a portion of or all of the fees and assumed a portion of or all expenses for the Fund. As a result, if these fees and expenses had not been waived or assumed, the “Actual/Hypothetical Ending Account Value” would have been lower and the “Actual/Hypothetical Expenses Paid During the Six Months Ended June 30, 2021” and the “Annualized Expense Ratio” would have been higher.

SunAmerica Senior Floating Rate Fund, Inc.

STATEMENT OF ASSETS AND LIABILITIES — June 30, 2021 — (unaudited)


	AIG Senior Floating Rate Fund
ASSETS:
Investments at value (unaffiliated)*	$	130,045,716
Cash		1,236
Due from broker		860
Receivable for:
Fund shares sold		51,796
Dividends and interest		756,771
Investments sold		1,692,517
Investments sold on an extended settlement basis		15,214,736
Prepaid expenses and other assets		203
Due from investment adviser for expense reimbursements/fee waivers		182,486
Unrealized appreciation on forward foreign currency contracts		48,476

Total assets		147,994,797

LIABILITIES:
Payable for:
Fund shares redeemed		155,416
Investments purchased		1,110,567
Investments purchased on an extended settlement basis		7,402,591
Investment advisory and management fees		97,699
Distribution and service maintenance fees		47,839
Administration fees		22,988
Transfer agent fees and expenses		32,647
Other accrued expenses		141,793
Dividends payable		46,810
Commitments		114,000
Due to custodian*		60,951

Total liabilities		9,233,301

Net Assets	$	138,761,496

NET ASSETS REPRESENTED BY:
Common stock, $0.01 par value	$	178,042
Additional paid-in capital		177,782,810

		177,960,852
Total accumulated earnings (loss)		(39,199,356	)

Net Assets	$	138,761,496

Class A:
Net assets	$	95,706,413
Shares outstanding		12,283,227
Net asset value and redemption price per share	$	7.79
Maximum sales charge (3.00% of offering price)		0.24

Maximum offering price to public	$	8.03

Class C:
Net assets	$	29,882,079
Shares outstanding		3,835,897
Net asset value, offering and redemption price per share (excluding any applicable contingent deferred sales charges)	$	7.79

Class W:
Net assets	$	13,173,004
Shares outstanding		1,685,117
Net asset value, offering and redemption price per share	$	7.82

*Cost
Investments securities (unaffiliated)	$	131,495,895

Foreign cash	$	(60,918	)

See Notes to Financial Statements

SunAmerica Senior Floating Rate Fund, Inc.

STATEMENT OF OPERATIONS — For the six months ended June 30, 2021 — (unaudited)


	AIG Senior Floating Rate Fund
INVESTMENT INCOME:
Interest (unaffiliated)	$	2,595,407
Dividends (unaffiliated)		75,982
Facility and other fee income (Note 2)		160,928

Total investment income		2,832,317

EXPENSES:
Investment advisory and management fees		619,233
Administrative fees		145,702
Distribution and account maintenance fees:
Class A		169,238
Class C		127,459
Service fees:
Class W		10,621
Transfer agent fees and expenses:
Class A		115,853
Class C		41,884
Class W		16,088
Registration fees:
Class A		8,166
Class C		1,839
Class W		5,640
Custodian and accounting fees		29,814
Reports to shareholders		28,189
Audit and tax fees		18,034
Legal fees		15,597
Directors’ fees and expenses		43,063
Other expenses		33,293

Total expenses before fee waivers and expense reimbursements		1,429,713
Fees waived and expenses reimbursed by investment adviser (Note 5)		(632,815	)

Net expenses		796,898

Net investment income (loss)		2,035,419

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCIES:
Net realized gain (loss) on:
Investments (unaffiliated)		876,420
Forward contracts		281,300
Net realized foreign exchange gain (loss) on other assets and liabilities		(133,888	)

Net realized gain (loss) on investments and foreign currencies		1,023,832

Change in unrealized appreciation (depreciation) on:
Investments (unaffiliated)		222,822
Forward contracts		125,907
Change in unrealized foreign exchange gain (loss) on other assets and liabilities		69,788

Net unrealized gain (loss) on investments and foreign currencies		418,517

Net realized and unrealized gain (loss) on investments and foreign currencies		1,442,349

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	3,477,768

See Notes to Financial Statements.

SunAmerica Senior Floating Rate Fund, Inc.

STATEMENT OF CHANGES IN NET ASSETS


	AIG Senior Floating Rate Fund
	For the six months ended June 30, 2021			For the year ended December 31, 2020
INCREASE (DECREASE) IN NET ASSETS:
Operations:
Net investment income (loss)	$	2,035,419		$	5,183,114
Net realized gain (loss) on investments and foreign currencies		1,023,832			(12,225,969	)
Net unrealized gain (loss) on investments and foreign currencies		418,517			4,826,063

Net increase (decrease) in net assets resulting from operations		3,477,768			(2,216,792	)


Distributions to shareholders from:
Distributable earnings (Class A)		(1,476,131	)		(2,317,533	)
Distributable earnings (Class C)		(439,673	)		(1,243,493	)
Distributable earnings (Class W)		(232,052	)		(627,930	)
Return of capital (Class A)		—			(329,282	)
Return of capital (Class C)		—			(176,679	)
Return of capital (Class W)		—			(89,218	)

Total distributions to shareholders		(2,147,856	)		(4,784,135	)

Net increase (decrease) in net assets resulting from capital share transactions (Note3)		(12,352,803	)		(48,837,547	)

Total increase (decrease) in net assets		(11,022,891	)		(55,838,474	)
NET ASSETS:
Beginning of period		149,784,387			205,622,861

End of period	$	138,761,496		$	149,784,387

See Notes to Financial Statements

SunAmerica Senior Floating Rate Fund, Inc.

FINANCIAL HIGHLIGHTS


AIG Senior Floating Rate Fund
Period Ended	Net Asset Value, beginning of period		Net investment income(1)		Net gain (loss) on investments (both realized and unrealized)			Total from investment operations			Dividends from net investment income			Return of Capital			Dividends from net realized gains on investments		Total Distri- butions			Net Asset Value, end of period		Total Return(2)			Net Assets, end of period (000's)		Ratio of expenses to average net assets(3)			Ratio of net investment income to average net assets(3)			Portfolio Turnover

Class A
12/31/16	$	7.61	$	0.31	$	0.44		$	0.75		$	(0.30	)		—		$	—	$	(0.30	)	$	8.06		10.08	%	$	131,640		1.45	%		3.95	%		60	%
12/31/17		8.06		0.30		0.03			0.33			(0.30	)		—			—		(0.30	)		8.09		4.14			93,346		1.45			3.69			68
12/31/18		8.09		0.33		(0.36	)		(0.03	)		(0.35	)		—			—		(0.35	)		7.71		(0.41	)		113,869		1.22			4.21			44
12/31/19		7.71		0.36		0.21			0.57			(0.38	)		—			—		(0.38	)		7.90		7.49			95,402		1.02			4.59			34
12/31/20		7.90		0.24		(0.20	)		0.04			(0.19	)		(0.03	)		—		(0.22	)		7.72		0.64			97,517		1.02			3.17			51
06/30/21(5)		7.72		0.11		0.08			0.19			(0.12	)		—			—		(0.12	)		7.79		2.43			95,706		1.02	(4)		2.88	(4)		36

Class C
12/31/16	$	7.60	$	0.29	$	0.44		$	0.73		$	(0.28	)		—		$	—	$	(0.28	)	$	8.05		9.76	%	$	155,688		1.75	%		3.68	%		60	%
12/31/17		8.05		0.28		0.03			0.31			(0.27	)		—			—		(0.27	)		8.09		3.96			135,902		1.75			3.38			68
12/31/18		8.09		0.31		(0.38	)		(0.07	)		(0.32	)		—			—		(0.32	)		7.70		(0.90	)		95,038		1.61			3.77			44
12/31/19		7.70		0.34		0.20			0.54			(0.35	)		—			—		(0.35	)		7.89		7.08			73,506		1.42			4.19			34
12/31/20		7.89		0.23		(0.21	)		0.02			(0.17	)		(0.02	)		—		(0.19	)		7.72		0.38			36,783		1.42			2.92			51
06/30/21(5)		7.72		0.10		0.07			0.17			(0.10	)		—			—		(0.10	)		7.79		2.21			29,882		1.42	(4)		2.47	(4)		36

Class W
04/20/17@-
12/31/17	$	8.11	$	0.25	$	(0.03	)	$	0.22		$	(0.22	)		—		$	—	$	(0.22	)	$	8.11		2.69	%	$	19,790		1.25	%(4)		3.72	%(4)		68	%
12/31/18		8.11		0.35		(0.37	)		(0.02	)		(0.37	)		—			—		(0.37	)		7.72		(0.34	)		28,615		1.02			4.43			44
12/31/19		7.72		0.37		0.22			0.59			(0.39	)		—			—		(0.39	)		7.92		7.70			36,715		0.82			4.78			34
12/31/20		7.92		0.28		(0.21	)		0.07			(0.21	)		(0.03	)		—		(0.24	)		7.75		0.99			15,485		0.82			3.57			51
06/30/21(5)		7.75		0.12		0.08			0.20			(0.13	)		—			—		(0.13	)		7.82		2.55			13,173		0.82	(4)		3.08	(4)		36

(1)	Calculated based upon average shares outstanding.

(2)	Total return is not annualized and does not reflect sales load but does include expense reimbursements.

(3)	Net of the following expense waivers and/or reimbursements, if applicable (based on average daily net assets):


	12/31/16			12/31/17			12/31/18			12/31/19			12/31/20			06/30/21(4)(5)
Class A		0.33	%		0.38	%		0.64	%		0.81	%		0.90	%		0.86	%
Class C		0.42			0.48			0.65			0.81			0.94			0.87
Class W		—			0.50	(4)		0.69			0.85			0.94			0.92

(4)	Annualized

(5)

Unaudited

@	Inception date of class.

See Notes to Financial Statements

AIG Senior Floating Rate Fund

PORTFOLIO PROFILE — June 30, 2021 — (unaudited)


Industry Allocation*
Exchange-Traded Funds	7.1	%
Software	6.8
Registered Investment Companies	6.4
Media	6.1
Specialty Retail	5.2
Hotels, Restaurants & Leisure	5.0
Health Care Providers & Services	4.9
Insurance	4.5
Pharmaceuticals	4.3
Chemicals	2.9
Entertainment	2.7
Building Products	2.6
Commercial Services & Supplies	2.6
Diversified Telecommunication Services	2.5
IT Services	2.3
Diversified Financial Services	2.2
Food Products	2.0
Construction Materials	1.9
Machinery	1.8
Auto Components	1.6
Capital Markets	1.5
Airlines	1.5
Oil, Gas & Consumable Fuels	1.4
Professional Services	1.4
Construction & Engineering	1.3
Containers & Packaging	1.2
Trading Companies & Distributors	1.1
Food & Staples Retailing	1.1
Internet & Direct Marketing Retail	1.0
Diversified Consumer Services	0.9
Leisure Products	0.8
Electronic Equipment, Instruments & Components	0.7
Aerospace & Defense	0.6
Real Estate Investment Trusts	0.6
Road & Rail	0.6
Household Durables	0.4
Personal Products	0.4
Thrifts & Mortgage Finance	0.4
Energy Equipment & Services	0.3
Life Sciences Tools & Services	0.3
Wireless Telecommunication Services	0.3
Industrial Conglomerates	0.2
Health Care Equipment & Supplies	0.2
Tech Hardware,Storage & Peripheral	0.1

	93.7	%


Credit Quality†#
Baa3	0.9	%
Baa1	0.6
Ba3	12.1
Ba2	12.1
Ba1	3.3
B3	9.3
B2	23.5
B1	24.1
Caa3	0.8
Caa2	2.1
Caa1	2.1
Not Rated@	9.1

	100.0	%

*	Calculated as a percentage of net assets.

@	Represents debt issues that either have no rating, or the rating is unavailable from the data source.

†	Source: Moody’s

#	Calculated as a percentage of total debt issues, excluding short-term securities.

AIG Senior Floating Rate Fund

PORTFOLIO OF INVESTMENTS — June 30, 2021 — (unaudited)

Ratings⁽¹⁾

Industry Description

Type

Moody’s

S&P

Interest

Rate

Reference

Rate

Maturity

Date⁽²⁾

Principal

Amount**

Value

(Note 2)

LOANS (3)(4) — 74.4%

Aerospace & Defense — 0.6%

TransDigm Group, Inc.

BTL-F

Ba3

B+

2.35%

1 ML+2.25%

12/09/2025

854,644

841,349

Airlines — 1.3%

United Airlines, Inc.

BTL-B

Ba1

BB-

4.50

3 ML+3.75%

04/21/2028

658,350

666,344

Mileage Plus Holdings LLC

BTL-B

Baa3

6.25

3 ML+5.25%

06/21/2027

375,000

400,078

SkyMiles IP Ltd

BTL-B

Baa1

4.75

3 ML+3.75%

10/20/2027

635,000

670,322

1,736,744

Auto Components — 1.4%

Clarios Global LP

BTL-B

3.35

1 ML+3.25%

04/30/2026

454,327

449,784

Adient US LLC

BTL-B

Ba3

BB-

3.60

1 ML+3.50%

04/08/2028

395,000

395,247

First Brands Group, LLC

BTL

6.00

1 ML+5.00%

03/30/2027

475,023

479,773

First Brands Group, LLC

2nd Lien

Caa1

CCC+

9.50

3 ML+8.50%

03/30/2028

390,000

391,950

Truck Hero, Inc.

BTL-B

B-

4.50

1 ML+3.75%

01/31/2028

214,463

214,343

1,931,097

Building Products — 2.4%

Cornerstone Building Brands, Inc.

BTL-B

B+

3.75

1 ML+3.25%

04/12/2028

458,925

458,237

CP Atlas Buyer, Inc.

BTL-B

B-

4.25

1 ML+3.75%

11/23/2027

443,888

442,445

ACProducts, Inc.

BTL-B

4.75

6 ML+4.25%

05/05/2028

835,000

830,477

Tecta America Corp.

BTL

B-

5.00

3 ML+4.25%

04/01/2028

850,000

851,063

Wilsonart LLC

BTL-E

B+

4.50

3 ML+3.50%

12/19/2026

511,345

510,848

Watlow Electric Manufacturing Co.

BTL-B

4.15

3 ML+4.00%

03/02/2028

264,338

264,888

3,357,958

Capital Markets — 1.5%

Deerfield Dakota Holding LLC

BTL-B

B-

4.75

1 ML+3.75%

04/09/2027

594,248

596,452

NFP Corp.

BTL

3.35

1 ML+3.25%

02/15/2027

664,942

655,072

PAI Holdco, Inc.

BTL-B

4.50

3 ML+3.75%

10/28/2027

443,888

444,812

Russell Investments

BTL

Ba2

BB-

4.50

6 ML+3.00%

05/30/2025

375,000

372,656

2,068,992

Chemicals — 2.9%

American Airlines, Inc.

BTL

Ba2

5.50

3 ML+4.75%

04/20/2028

505,000

526,226

ASP Unifrax Holdings, Inc.

BTL-B2

Caa3

CCC+

8.62

3 ML+8.50%

12/14/2026

375,000

352,500

Diamond (BC) BV

BTL

Ba3

3.15-3.19

3 ML+3.00%

09/06/2024

882,975

877,319

Diamond (BC) BV(9)

BTL

Ba3

3.25

3 ME+3.25%

09/06/2024

EUR

194,928

230,173

Ineos Styrolution US Holdings LLC

BTL-B

Ba3

3.25

1 ML+2.75%

01/29/2026

255,000

254,203

Messer Industries GmbH

BTL-B1

BB-

2.65

3 ML+2.50%

03/01/2026

366,238

363,491

NIC Acquistion Corp.

BTL

4.50

3 ML+3.75%

12/29/2027

79,939

79,788

NIC Acquistion Corp.

BTL

4.50

6 ML+3.75%

12/29/2027

334,024

333,398

Tronox Finance LLC

BTL-B

Ba3

BB-

2.60

1 ML+2.50%

03/13/2028

245,294

243,684

Tronox Finance LLC

BTL-B

Ba3

BB-

2.65

3 ML+2.50%

03/13/2028

376,217

373,748

U.S. Coating Acquisition, Inc.

BTL-B2

Ba1

BBB-

1.90

3 ML+1.75%

06/01/2024

388,260

385,487

4,020,017

Commercial Services & Supplies — 2.6%

Amentum Government Services Holdings LLC

BTL-B

3.60

1 ML+3.50%

01/29/2027

529,650

526,781

APX Group, Inc.

BTL

B-

7.25

USFRBPLR+4.00%

12/31/2025

631,279

631,674

Brickman Group, Ltd.

BTL-B

BB-

2.63

1 ML+2.50%

08/15/2025

988,829

982,236

Verisure Holdings AB(9)

BTL-B

3.50

3 ME+3.50%

07/20/2026

EUR

600,000

708,871

Verisure Holdings AB(9)

BTL

3.50

3 ME+3.50%

03/27/2028

EUR

600,000

708,960

3,558,522

Construction & Engineering — 0.8%

Power Buyer LLC

BTL

B-

4.25

3 ML+3.25%

03/06/2025

604,212

598,774

Power Buyer LLC

2nd Lien

Caa2

CCC

8.25

3 ML+7.25%

03/06/2026

585,000

579,516

1,178,290

AIG Senior Floating Rate Fund

PORTFOLIO OF INVESTMENTS — June 30, 2021 — (unaudited) (continued)

Ratings⁽¹⁾

Industry Description

Type

Moody’s

S&P

Interest

Rate

Reference

Rate

Maturity

Date⁽²⁾

Principal

Amount**

Value

(Note 2)

Construction Materials — 1.9%

Quikrete Holdings, Inc.

BTL

Ba3

BB-

2.60%

1 ML+2.50%

02/01/2027

739,421

732,120

Quikrete Holdings, Inc.

BTL-B1

Ba3

BB-

TBD

05/12/2028

1,000,000

991,500

Summit Materials LLC

1st Lien

Ba1

BBB-

2.10

1 ML+2.00%

11/21/2024

878,150

874,720

2,598,340

Containers & Packaging — 1.2%

Berlin Packaging LLC

BTL-B1

B-

3.10

1 ML+3.00%

11/07/2025

511,860

506,649

Berlin Packaging LLC

BTL-B1

B-

3.21

3 ML+3.00%

11/07/2025

1,681

1,664

Flex Acquisition Company Inc.

BTL

4.00

3 ML+3.50%

02/23/2028

606,216

603,564

Pods, LLC

BTL-B

3.75

1 ML+3.00%

03/31/2028

309,225

308,581

Reynolds Group Holdings, Inc.

BTL

B+

2.85

1 ML+2.75%

02/05/2023

191,667

191,214

1,611,672

Diversified Consumer Services — 0.9%

WW International, Inc.

BTL-B

Ba3

BB-

4.00

1 ML+3.50%

04/13/2028

615,000

616,153

Belron Finance US LLC

BTL-B

Ba3

BB+

2.44

3 ML+2.25%

11/13/2025

585,000

581,588

1,197,741

Diversified Financial Services — 2.2%

EVO Payments International LLC

BTL

3.36

1 ML+3.25%

12/22/2023

2,538

2,531

HighTower Holdings LLC

BTL-B

B-

4.75

3 ML+4.00%

04/30/2028

456,000

456,570

HighTower Holdings LLC(6)

BTL

B-

TBD

04/30/2028

114,000

114,143

Millennium Trust Company, LLC

BTL-B

4.85

1 ML+4.75%

03/27/2026

415,438

414,328

MPH Acquisition Holdings LLC

BTL-B

Ba3

B+

3.75

3 ML+2.75%

06/07/2023

700,631

698,490

Nets Holding AS(9)

BTL-B

B-

2.50

3 ME+2.50%

02/06/2025

EUR

798,159

944,495

Trans Union LLC

BTL-B5

Ba2

BBB-

1.85

1 ML+1.75%

11/16/2026

408,055

405,122

3,035,679

Diversified Telecommunication Services — 2.5%

Altice France SA

BTL

3.87

3 ML+3.69%

01/31/2026

985,061

975,562

Zacapa, LLC

BTL

B-

4.65

3 ML+4.50%

07/02/2025

99,744

99,827

Lorca Finco PLC(9)

BTL-B2

B+

4.25

6 ME+4.25%

09/17/2027

EUR

845,000

1,002,481

MTN Infrastructure TopCo, Inc.

BTL

4.00

1 ML+3.00%

11/15/2024

987,404

986,170

Telenet Financing USD LLC

BTL-AR

Ba3

BB-

2.07

1 ML+2.00%

04/30/2028

370,000

364,624

3,428,664

Electronic Equipment, Instruments & Components — 0.7%

Avantor, Inc.

BTL-B3

Ba1

BB+

3.00

1 ML+2.00%

11/21/2024

91,467

91,421

Avantor, Inc.

BTL-B4

Ba1

BB+

3.25

1 ML+2.25%

11/08/2027

681,575

Lifescan Global Corporation

BTL-B

6.20

3 ML+6.00%

10/01/2024

199,350

197,273

970,269

Energy Equipment & Services — 0.3%

Concorde Midco LTD(9)

BTL-B

4.00

6 ME+4.00%

03/01/2028

EUR

315,000

373,044

Philadelphia Energy Solutions LLC†(5)(10)(11)(13)

BTL-C

11.24

12/31/2022

852,145

8,521

381,565

Entertainment — 2.7%

Crown Finance US, Inc.(9)

BTL

Caa2

CCC

2.63

6 ME+2.63%

02/28/2025

EUR

131,077

136,483

Crown Finance US, Inc.

BTL

Caa2

CCC

3.50

6 ML+2.50%

02/28/2025

578,934

508,980

Crown Finance US, Inc.(9)(14)

BTL-B1

B-

7.00

3 ML+7.00%

05/23/2024

EUR

184,912

232,835

Delta 2 (Lux) SARL

BTL-B

B+

3.50

1 ML+2.50%

02/01/2024

850,951

846,031

NAI Entertainment Holdings LLC

BTL-B

B+

3.50

1 ML+2.50%

05/08/2025

412,000

404,275

Playtika Holding Corp

BTL

Ba2

2.85

1 ML+2.75%

03/13/2028

379,050

377,198

UFC Holdings LLC

BTL-B

3.75

6 ML+3.00%

04/29/2026

875,133

873,492

William Morris Endeavor Entertainment LLC

BTL-B1

2.85

1 ML+2.75%

05/18/2025

392,970

385,438

3,764,732

AIG Senior Floating Rate Fund

PORTFOLIO OF INVESTMENTS — June 30, 2021 — (unaudited) (continued)

Ratings⁽¹⁾

Industry Description

Type

Moody’s

S&P

Interest

Rate

Reference

Rate

Maturity

Date⁽²⁾

Principal

Amount**

Value

(Note 2)

Food & Staples Retailing — 1.1%

Bellis Acquisition Company(9)

BTL-B

Ba2

2.75%

6 ME+2.75%

02/12/2026

EUR

325,000

383,968

U.S. Foods, Inc.

BTL-B

BB-

1.85

1 ML+1.75%

06/27/2023

689,860

682,961

U.S. Foods, Inc.

BTL-B

BB-

2.10

1 ML+2.00%

09/13/2026

530,550

522,315

1,589,244

Food Products — 2.0%

Atkins Nutritionals, Inc.

BTL-B

BB-

4.75

1 ML+3.75%

07/07/2024

367,029

368,482

Sunshine Luxembourg VII SARL

BTL-B3

B-

4.50

3 ML+3.75%

10/01/2026

987,525

990,154

Froneri International PLC

BTL

B+

2.35

1 ML+2.25%

01/29/2027

643,500

633,445

Froneri International PLC(9)

BTL

B+

2.38

6 ME+2.38%

01/29/2027

EUR

700,000

812,482

2,804,563

Health Care Equipment & Supplies — 0.2%

Insulet Corporation

BTL-B

Ba3

B+

3.75

1 ML+3.25%

05/04/2028

245,000

245,153

Health Care Providers & Services — 4.7%

Biogroup LCD(9)

BTL-B

B-

3.50

3 ME+3.50%

01/28/2028

EUR

710,000

836,696

Elsan SAS

BTL

TBD

02/05/2028

380,000

449,706

Midwest Physician Administrative Services, LLC

BTL

3.75

3 ML+3.00%

03/12/2028

404,134

402,871

Surgery Center Holdings, Inc.

BTL

B-

4.50

1 ML+3.75%

08/31/2026

712,321

714,992

Change Healthcare Holdings, Inc.

BTL-B

B+

3.50

1 ML+2.50%

03/01/2024

851,798

850,733

eResearchTechnology, Inc.

BTL

B-

5.50

1 ML+4.50%

02/04/2027

134,660

135,207

Eyecare Partners LLC

BTL

3.85

1 ML+3.75%

02/18/2027

716,988

710,018

Gentiva Health Services, Inc.

BTL

B+

2.88

1 ML+2.75%

07/02/2025

814,481

812,191

Horizon Therapeutics USA, Inc.

BTL-B

Ba1

BB+

2.50

1 ML+2.00%

03/15/2028

613,463

609,957

MED ParentCo LP

1st Lien

B-

4.35

1 ML+4.25%

08/31/2026

962,426

962,082

6,484,453

Hotels, Restaurants & Leisure — 3.8%

Aramark Services, Inc.

BTL-B1

Ba2

BB+

1.85

1 ML+1.75%

03/11/2025

596,904

589,816

Boyd Gaming Corp.

BTL-B

Ba3

2.34

1 WL+2.25%

09/15/2023

615,855

614,875

Caesars Resort Collection LLC

BTL-B

B+

2.85

1 ML+2.75%

12/23/2024

987,271

978,324

Caesars Resort Collection LLC

BTL

B+

4.60

1 ML+4.50%

07/21/2025

838,663

840,759

CityCenter Holdings LLC

BTL-B

B+

3.00

1 ML+2.25%

04/18/2024

492,262

488,131

Golden Entertainment, Inc.

BTL-B

B+

3.75

1 ML+3.00%

10/21/2024

235,602

233,687

IRB Holding Corp

BTL

4.25

3 ML+3.25%

12/15/2027

482,575

481,972

Penn National Gaming, Inc.

BTL-B1

Ba3

BB-

3.00

1 ML+2.25%

10/15/2025

615,548

613,379

Station Casinos LLC(9)

BTL-B

BB-

2.25

1 ML+2.25%

02/08/2027

EUR

403,560

398,667

5,239,610

Household Durables — 0.4%

Installed Building Products, Inc.

BTL-B

Ba2

BB+

2.35

1 ML+2.25%

04/15/2025

500,000

496,875

Industrial Conglomerates — 0.0%

Ameriforge Group, Inc.(12)

BTL

5.00-9.00

3 ML+8.00%

12/31/2023

102,772

51,386

UTEX Industries Inc.(15)

BTL

5.25-5.75

1 ML+5.25%

12/03/2025

161

155

51,541

Insurance — 4.5%

Acrisure LLC

BTL-B

3.60

3 ML+3.50%

02/15/2027

623,506

616,023

Asurion LLC

BTL-B6

Ba3

B+

3.10

1 ML+3.00%

11/03/2023

337,383

335,433

Asurion LLC

BTL-B7

Ba3

B+

3.10

1 ML+3.00%

11/03/2024

499,501

494,116

Asurion LLC

BTL-B8

Ba3

B+

3.35

1 ML+3.25%

12/23/2026

363,093

358,724

Asurion LLC

BTL-B3

5.35

1 ML+5.25%

01/31/2028

720,000

725,220

Compass Investments, Inc.

BTL-B

3.15

3 ML+3.00%

05/16/2024

1,060,269

1,050,045

Hub International, Ltd.

BTL-B1

2.93

3 ML+2.75%

04/25/2025

955,450

944,203

Hyperion Insurance Group Ltd.

BTL-B

4.75

1 ML+3.75%

11/12/2027

263,373

263,812

Ryan Specialty Group LLC

BTL

3.75

1 ML+3.00%

09/01/2027

267,975

267,640

Sedgwick Claims Management Services, Inc.

BTL-B

3.35

1 ML+3.25%

12/31/2025

1,143,759

1,130,892

6,186,108

AIG Senior Floating Rate Fund

PORTFOLIO OF INVESTMENTS — June 30, 2021 — (unaudited) (continued)

Ratings⁽¹⁾

Industry Description

Type

Moody’s

S&P

Interest

Rate

Reference

Rate

Maturity

Date⁽²⁾

Principal

Amount**

Value

(Note 2)

Internet & Direct Marketing Retail — 1.0%

Go Daddy Operating Co. LLC

BTL-B1

Ba1

1.85%

1 ML+1.75%

02/15/2024

390,341

387,058

MH Sub I LLC

BTL

4.75

1 ML+3.75%

09/13/2024

470,697

471,403

Shutterfly, Inc.

BTL-B

B-

7.00

3 ML+6.00%

09/25/2026

460,556

461,215

1,319,676

IT Services — 2.3%

CCC Information Services, Inc.

1st Lien

B-

4.00

1 ML+3.00%

04/29/2024

895,516

894,716

Endure Digital, Inc.

BTL

4.25

3 ML+3.50%

02/10/2028

845,000

840,071

Peraton Corp.

BTL-B

B+

4.50

1 ML+3.75%

02/01/2028

548,625

549,911

Tempo Acquisition LLC

BTL-B

3.75

1 ML+3.25%

11/02/2026

968,146

968,872

3,253,570

Leisure Products — 0.8%

Hayward Industries, Inc.

BTL

Ba2

BB-

TBD

05/12/2028

550,000

548,511

MajorDrive Holdings IV LLC

BTL-B

Ba2

BB-

4.50

3 ML+4.00%

05/12/2028

360,000

360,225

SRAM LLC

BTL-B

Ba2

BB-

TBD

05/12/2028

180,930

180,704

1,089,440

Life Sciences Tools & Services — 0.3%

PPD, Inc.

BTL

Ba2

BB-

2.75

1 ML+2.25%

01/13/2028

418,950

418,112

Machinery — 1.8%

Altra Industrial Motion Corp.

BTL-B

Ba2

BB-

2.10

1 ML+2.00%

10/01/2025

402,959

400,642

Fluidra SA

BTL-B

Ba2

BB+

2.10

1 ML+2.00%

07/02/2025

369,257

367,641

Vertical Midco GMBH

BTL-B

B+

TBD

07/30/2027

719,576

720,175

Welbilt Inc

BTL-B

B-

2.60

1 ML+2.50%

10/23/2025

500,000

495,000

WireCo WorldGroup, Inc.

1st Lien

TBD

09/30/2023

577,062

576,546

2,560,004

Media — 5.8%

Banijay Group US Holding Inc(9)

BTL

3.75

3 ME+3.75%

03/01/2025

EUR

170,000

201,347

Banijay Group US Holding Inc

BTL

3.84

1 ML+3.75%

03/01/2025

421,813

420,231

Charter Communications Operating LLC

BTL-B2

Ba1

BBB-

1.86

1 ML+1.75%

02/01/2027

366,593

363,661

Cable One, Inc.

BTL-B4

Ba2

BB+

2.10

1 ML+2.00%

05/03/2028

610,000

606,569

UPC Broadband Holding B.V.(9)

BTL

BB-

3.00

3 ME+3.00%

01/31/2029

EUR

300,000

353,546

UPC Financing Partnership

BTL

BB-

3.07

1 ML+3.00%

01/31/2029

715,000

710,233

CSC Holdings, Inc. (Neptune)

BTL-B

Ba3

2.32

1 ML+2.25%

07/17/2025

490,200

483,153

E.W. Scripps Co.

BTL-B2

Ba3

BB-

3.31

1 ML+2.56%

05/01/2026

625,656

623,212

Gray Television, Inc.

BTL-C

Ba2

2.59

1 ML+2.50%

01/02/2026

1,007,627

1,002,168

Houghton Mifflin Harcourt Publishing Company

BTL-B

TBD

11/22/2024

5,995

5,996

NEP Group, Inc.

BTL

Caa1

3.40

3 ML+3.25%

10/20/2025

515,886

502,989

NEP Group, Inc.

2nd Lien

Caa3

CCC

7.10

1 ML+7.00%

10/19/2026

595,000

563,763

Nexstar Broadcasting, Inc.

BTL-B4

Ba2

BBB-

2.59

1 ML+2.50%

09/18/2026

500,393

498,695

Radiate Holdco LLC

BTL

4.25

1 ML+3.50%

09/25/2026

258,700

258,603

Virgin Media Bristol LLC

BTL-Q

Ba3

BB-

3.35

3 ML+3.25%

01/31/2029

480,000

478,875

Ziggo Secured Finance Partnership

BTL-I

B+

2.57

1 ML+2.50%

04/30/2028

1,000,000

989,583

8,062,624

Oil, Gas & Consumable Fuels — 1.1%

Grizzly Acquisition, Inc. (Northriver Midstream Finance)

BTL

Ba3

3.45

3 ML+3.25%

10/01/2025

589,230

583,864

Medallion Midland Acquisition LLC

1st Lien

B-

4.25

1 ML+3.25%

10/30/2024

692,907

687,017

Traverse Midstream Partners LLC

BTL-B

6.50

1 ML+5.50%

09/27/2024

270,343

271,273

1,542,154

Personal Products — 0.4%

Polaris Newco LLC

BTL-B

B-

4.50

6 ML+4.00%

06/02/2028

595,000

596,352

Pharmaceuticals — 3.7%

Elanco Animal Health Inc

BTL-B

Baa3

BB+

1.84

1 ML+1.75%

08/02/2027

760,599

749,326

Jazz Financing Lux SARL

BTL

Ba2

BB-

4.00

1 ML+3.50%

05/05/2028

510,000

511,821

AIG Senior Floating Rate Fund

PORTFOLIO OF INVESTMENTS — June 30, 2021 — (unaudited) (continued)

Ratings⁽¹⁾

Industry Description

Type

Moody’s

S&P

Interest

Rate

Reference

Rate

Maturity

Date⁽²⁾

Principal

Amount**

Value

(Note 2)

Pharmaceuticals (continued)

Organon & Co.

BTL

Ba2

TBD

06/02/2028

935,000

935,334

Milano Acquisition Corp

BTL-B

B+

4.75

3 ML+4.00%

10/01/2027

692,124

693,421

Packaging Coordinators Midco Inc.

BTL

B-

4.25

3 ML+3.50%

11/30/2027

379,050

379,145

Valeant Pharmaceuticals International, Inc.

BTL

Ba2

2.85

1 ML+2.75%

11/27/2025

916,544

909,415

Valeant Pharmaceuticals International, Inc.

BTL

Ba2

3.10

1 ML+3.00%

06/02/2025

926,551

922,498

5,100,960

Professional Services — 1.4%

AlixPartners LLP

BTL-B

B+

3.25

1 ML+2.75%

02/04/2028

997,500

992,790

Dun & Bradstreet Corporation

BTL

B+

3.35

1 ML+3.25%

02/06/2026

995,552

990,107

1,982,897

Real Estate Investment Trusts — 0.6%

VICI Properties 1 LLC

BTL

Ba2

BBB-

1.84

1 ML+1.75%

12/20/2024

853,864

846,179

Road & Rail — 0.6%

Fly Funding II SARL

BTL-B

Ba3

BB+

1.92

3 ML+1.75%

08/11/2025

490,344

481,150

Hertz Corp.

BTL-B

B+

TBD

06/14/2028

344,983

344,408

Hertz Corp.

BTL-C

TBD

06/14/2028

65,016

64,908

890,466

Software — 6.4%

Almonde, Inc.

BTL-B

CCC+

4.50

6 ML+3.50%

06/13/2024

488,880

480,783

Almonde, Inc.

BTL

Caa2

CCC-

8.25

6 ML+7.25%

06/13/2025

230,000

232,218

BY Crown Parent LLC

BTL-B1

B-

4.00

1 ML+3.00%

02/02/2026

397,428

396,931

Ceridian HCM Holding, Inc.

BTL-B

B+

2.59

1 WL+2.50%

04/30/2025

569,072

560,181

Epicor Software Corp

BTL

B-

4.00

1 ML+3.25%

07/30/2027

381,507

380,814

Epicor Software Corp

2nd Lien

Caa2

CCC

8.75

1 ML+7.75%

07/31/2028

240,000

247,650

Hyland Software, Inc.

BTL

B-

4.25

1 ML+3.50%

07/01/2024

1,428,988

1,431,030

Hyland Software, Inc.

2nd Lien

Caa1

CCC

7.00

1 ML+6.25%

07/07/2025

470,800

471,683

Proofpoint, Inc.

1st Lien

B-

TBD

06/09/2028

910,000

904,454

Panther Purchaser LP

BTL

B-

5.00

1 ML+4.50%

01/07/2028

755,000

755,189

Realpage, Inc.

1st Lien

3.75

1 ML+3.25%

04/24/2028

860,000

857,098

SS&C Technologies, Inc.

BTL-B3

Ba2

BB+

1.85

1 ML+1.75%

04/16/2025

270,909

267,663

SS&C Technologies, Inc.

BTL

Ba2

BB+

1.85

1 ML+1.75%

04/16/2025

205,826

203,361

SS&C Technologies, Inc.

BTL-B5

Ba2

BB+

1.85

1 ML+1.75%

04/16/2025

746,489

737,879

Zelis Payments Buyer, Inc.

BTL

3.59

1 ML+3.50%

09/30/2026

985,050

982,095

8,909,029

Specialty Retail — 4.4%

Great Outdoors Group LLC

BTL-B

B+

5.00

6 ML+4.25%

03/06/2028

1,029,825

1,034,974

Harbor Freight Tools USA, Inc.

BTL-B

Ba3

BB-

3.75

1 ML+3.00%

10/19/2027

357,241

356,997

LBM Acquisition LLC

BTL-B

B-

4.50

3 ML+3.75%

12/17/2027

472,662

469,264

LBM Acquisition LLC(6)

Delayed Draw

B-

TBD

12/17/2027

105,299

104,542

Les Schwab Tire Centers

BTL-B

4.25

6 ML+3.50%

11/02/2027

298,500

298,220

EG Finco Ltd.

2nd Lien

Caa2

CCC

TBD

04/10/2027

350,000

414,494

EG Group Ltd.

BTL

B-

TBD

03/31/2026

239,602

Michaels Companies, Inc.

BTL-B

Ba3

5.00

3 ML+4.25%

04/15/2028

655,000

657,320

SRS Distribution, Inc.

BTL-B

B-

TBD

06/02/2028

560,000

559,213

Petco Animal Supplies, Inc.

BTL-B

4.00

3 ML+3.25%

03/03/2028

508,724

507,635

PetSmart, Inc.

BTL-B

BB-

4.50

3 ML+3.75%

02/12/2028

409,999

410,127

Birkenstock GmbH & Co. KG

BTL-B

TBD

04/27/2028

459,999

459,309

Staples, Inc.

BTL

5.18

3 ML+5.00%

04/16/2026

—

White Cap Buyer LLC

BTL-B

4.50

3 ML+4.00%

10/19/2027

532,324

532,823

6,044,520

Tech Hardware,Storage & Peripheral — 0.1%

Ingram Micro, Inc.

BTL-B

BB-

TBD

06/30/2028

200,000

200,250

AIG Senior Floating Rate Fund

PORTFOLIO OF INVESTMENTS — June 30, 2021 — (unaudited) (continued)

Ratings⁽¹⁾

Industry Description

Type

Moody’s

S&P

Interest

Rate

Reference

Rate

Maturity

Date⁽²⁾

Principal

Amount**

Value

(Note 2)

Trading Companies & Distributors — 1.1%

American Builders & Contractors Supply Co., Inc.

BTL

Ba2

BB+

2.10%

1 ML+2.00%

01/15/2027

783,512

777,191

Foundation Building Materials, Inc.

BTL

3.75

3 ML+3.25%

02/03/2028

404,999

402,035

HD Supply Waterworks, Ltd.

BTL-B

3.75

1 ML+2.75%

08/01/2024

262,779

262,341

HD Supply Waterworks, Ltd.

BTL-B

3.75

3 ML+2.75%

08/01/2024

173,381

173,092

1,614,659

Total Loans (cost $103,924,368)

103,210,070

U.S. CORPORATE BONDS & NOTES — 3.8%

Auto Components — 0.2%

Clarios Global LP / Clarios US Finance Co.*

Company Guar. Notes

Caa1

CCC+

8.50

05/15/2027

250,000

272,550

Building Products — 0.2%

Advanced Drainage Systems, Inc.*

Senior Notes

Ba2

5.00

09/30/2027

220,000

228,364

Construction & Engineering — 0.5%

Brand Energy & Infrastructure Services, Inc.*

Senior Notes

Caa2

CCC

8.50

07/15/2025

250,000

254,183

PowerTeam Services LLC*

Senior Sec. Notes

B-

9.03

12/04/2025

420,000

462,000

716,183

Health Care Providers & Services — 0.2%

CHS/Community Health Systems, Inc.*

Senior Sec. Notes

4.75

02/15/2031

305,000

305,381

Hotels, Restaurants & Leisure — 0.7%

Boyd Gaming Corp

Company Guar. Notes

Caa1

4.75

12/01/2027

250,000

258,750

Boyd Gaming Corp*

Company Guar. Notes

Caa1

8.63

06/01/2025

250,000

275,593

Caesars Entertainment, Inc.*

Senior Notes

Caa1

CCC+

8.13

07/01/2027

150,000

166,830

CEC Entertainment LLC*

Senior Notes

Caa1

CCC

6.75

05/01/2026

225,000

230,906

932,079

Media — 0.3%

Houghton Mifflin Harcourt Publishers, Inc.*

Senior Notes

9.00

02/15/2025

400,000

428,000

Oil, Gas & Consumable Fuels — 0.1%

Suburban Propane Partners*

Senior Notes

BB-

5.00

06/01/2031

100,000

102,375

Software — 0.4%

SS&C Technologies, Inc.*

Company Guar. Notes

B+

5.50

09/30/2027

500,000

529,850

Specialty Retail — 0.8%

BCPE Ulysses Intermediate, Inc.*

Senior Notes

Caa2

CCC

7.75

04/01/2027

230,000

235,750

Michaels Companies, Inc.*

Senior Notes

CCC+

7.88

05/01/2029

410,000

422,813

L Brands, Inc.*

Company Guar. Notes

Ba3

BB-

6.63

10/01/2030

405,000

467,775

1,126,338

Thrifts & Mortgage Finance — 0.4%

Genworth Mortgage Holdings, Inc.*

Senior Notes

Ba3

6.50

08/15/2025

245,000

270,039

LD Holdings Group LLC*

Company Guar. Notes

B+

6.50

11/01/2025

285,000

292,638

562,677

Total U.S. Corporate Bonds & Notes (cost $4,885,971)

5,203,797

FOREIGN CORPORATE BONDS & NOTES — 1.6%

Airlines — 0.2%

Spirit Loyalty Cayman Ltd / Spirit IP Cayman Ltd*

Senior Sec. Notes

Ba2

8.00

09/20/2025

177,000

200,187

Hotels, Restaurants & Leisure — 0.5%

Carnival Corp*

Senior Sec. Notes

Ba2

BB-

11.50

04/01/2023

500,000

565,625

Royal Caribbean Cruises Ltd*

Company Guar. Notes

B+

9.13

06/15/2023

175,000

192,063

757,688

AIG Senior Floating Rate Fund

PORTFOLIO OF INVESTMENTS — June 30, 2021 — (unaudited) (continued)


			Ratings⁽¹⁾				Interest Rate		Maturity Date⁽²⁾		Principal Amount/ Shares**			Value (Note 2)
Industry Description	Type		Moody’s		S&P		Interest Rate		Maturity Date⁽²⁾		Principal Amount/ Shares**			Value (Note 2)
Pharmaceuticals — 0.6%
Bausch Health Cos, Inc.*		Company Guar. Notes		B3		B		5.00%		01/30/2028	$	485,000		$	460,066
Bausch Health Cos, Inc.*		Company Guar. Notes		B3		B		9.00		12/15/2025		385,000			412,836

															872,902

Wireless Telecommunication Services — 0.3%
Vmed O2 UK Financing I PLC*		Senior Sec. Notes		Ba3		BB-		4.25		01/31/2031		400,000			392,952

Total Foreign Corporate Bonds & Notes (cost $2,114,553)															2,223,729

COMMON STOCKS — 0.4%
Energy Equipment & Services — 0.0%
Philadelphia Energy Solutions LLC, Class A†(5)(7)												35,161			0

Industrial Conglomerates — 0.2%
AFG Holdings, Inc.†(7)												14,309			314,798

Oil, Gas & Consumable Fuels — 0.2%
Ascent Resources Marcellus LLC, Class A†(5)(7)												187,384			157,404
Foresight Energy LLC†(7)												9,907			89,162

															246,566

Total Common Stocks (cost $1,746,694)															561,364

EXCHANGE-TRADED FUNDS — 7.1%
SPDR Blackstone Senior Loan ETF												131,600			6,091,765
Invesco Senior Loan ETF												175,000			3,876,251

Total Exchange-Traded Funds (cost $9,937,020)															9,968,016

WARRANTS — 0.0%
Oil, Gas & Consumable Fuels — 0.0%
Ascent Resources Marcellus LLC†(5)(7) Expires 03/30/2023 (strike price $6.15) (cost $4,625)												48,515			534

ESCROWS AND LITIGATION TRUSTS — 0.0%
Paragon Offshore, Ltd.†(5) (cost $4,458)		Escrow Holding		NR		NR		6.00		07/18/2021	$	4,516			0

Total Long-Term Investment Securities (cost $122,617,689)															121,167,510

SHORT-TERM INVESTMENT SECURITIES — 6.4%
Registered Investment Companies — 6.4%
State Street Institutional Liquid Reserves Fund, Administration Class 0.05%(8) (cost $8,878,206)
Total Short-Term Investment Securities												8,875,543			8,878,206

TOTAL INVESTMENTS
(cost $131,495,895)(16)												93.7	%		130,045,716
Other assets less liabilities												6.3	%		8,715,780

NET ASSETS												100.0	%	$	138,761,496

BTL	Bank Term Loan

EUR	Euro Currency

NR	Security is not rated.

TBD —

Senior loan purchased on a when-issued or delayed-delivery basis. Certain details associated with this purchase are not known prior to the settlement date of the transaction. In addition, senior loans typically trade without accrued interest and therefore a coupon rate is not available prior to the settlement.

†	Non-income producing security

AIG Senior Floating Rate Fund

PORTFOLIO OF INVESTMENTS — June 30, 2021 — (unaudited) (continued)

Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The Fund has no rights to demand registration of these securities. At June 30, 2021 the aggregate value of these securities was $7,168,776, representing 5.2% of net assets.

**	Denominated in United States Dollars unless otherwise noted.

(1)	Bank loans rated below Baa by Moody’s Investor Service, Inc. or BBB by Standard & Poor’s Group are considered below investment grade. Ratings provided are as of June 30, 2021.

(2)

Based on the stated maturity, the weighted average to maturity of the loans held in the portfolio is approximately 50 months. Loans in the Fund’s portfolio are generally subject to mandatory and/or optional prepayment. Because of these mandatory prepayment conditions and because there may be significant economic incentives for a Borrower to prepay, prepayments may occur. As a result, the actual remaining maturity may be substantially less than the stated maturities shown.

(3)

The Fund invests in senior loans which generally pay interest at rates which are periodically re-determined by reference to a base lending rate plus a premium. These base lending rates are generally either the lending rate offered by one or more major European banks, such as the London Inter-Bank Offer Rate (“LIBOR”) or the prime rate offered by one or more major United States banks, or the certificate of deposit rate. Senior loans are generally considered to be restrictive in that the Fund is ordinarily contractually obligated to receive approval from the Agent Bank and/or borrower prior to the disposition of a senior loan.

(4)	All loans in the portfolio were purchased through assignment agreements unless otherwise indicated.

(5)	Security classified as Level 3 (see Note 2).

(6)	All or a portion of this holding is subject to unfunded loan commitments.

(7)

Denotes a restricted security that: (a) cannot be offered for public sale without first being registered, or being able to take advantage of an exemption from registration, under the Securities Act of 1933, as amended (the “1933 Act”); (b) is subject to a contractual restriction on public sales; or (c) is otherwise subject to a restriction on sales by operation of applicable law. Restricted securities are valued pursuant to Note 1. Certain restricted securities held by the Fund may not be sold except in exempt transactions or in a public offering registered under the 1933 Act. The Fund has no right to demand registration of these securities. The risk of investing in certain restricted securities is greater than the risk of investing in the securities of widely held, publicly traded companies. To the extent applicable, lack of a secondary market and resale restrictions may result in the inability of a Fund to sell a security at a fair price and may substantially delay the sale of the security. In addition, certain restricted securities may exhibit greater price volatility than securities for which secondary markets exist. As of June 30, 2021, the Fund held the following restricted securities:


Description	Acquisition Date		Shares		Acquisition Cost		Value		Value Per Share		% of Net Assets
Common Stocks
AFG Holdings, Inc.		01/22/2013		14,309	$	911,111	$	314,798	$	22.00		0.23	%
Ascent Resources Marcellus LLC, Class A		03/30/2018		187,384		567,151		157,404		0.84		0.11
Foresight Energy LLC		06/30/2020		9,907		82,859		89,162		9.00		0.06
Philadelphia Energy Solutions LLC, Class A		04/04/2018		35,161		185,574		0		0.00		0.00
Warrants
Ascent Resources Marcellus LLC		03/30/2018		48,515		4,625		534		0.01		0.00

							$	561,898				0.40	%

(8)	The rate shown is the 7-day yield as of June 30, 2021.

(9)	The referenced Index is less than 0.00% at the period end. The loan has an interest rate floor whereby the floating rate used in the coupon rate calculation cannot be less than zero.

(10)	Security in default of interest.

(11)	Company has filed for bankruptcy protection.

(12)	“Payment-in-Kind” (PIK) security — Income may be paid in additional securities or cash at the discretion of the issuer. The security is currently paying interest in cash at 9.00%. The security is also currently paying interest in the form of additional loans at 5.00%.

(13)	“Payment-in-Kind” (PIK) security — Income may be paid in additional securities or cash at the discretion of the issuer. The security is currently paying interest in cash at 4.75%. The security is also currently paying interest in the form of additional loans at 6.99%.

(14)	“Payment-in-Kind” (PIK) security — Income may be paid in additional securities or cash at the discretion of the issuer. The security is currently paying interest in the form of additional loans at 7.00%.

(15)	“Payment-in-Kind” (PIK) security — Income may be paid in additional securities or cash at the discretion of the issuer. The security is currently paying interest in cash at 5.25%. The security is also currently paying interest in the form of additional loans at 5.75%.

(16)	See Note 6 for cost of investments on a tax basis.

Index Legend

1 ML —

1 Month USD LIBOR

1 WL —

1 Week USD LIBOR

3 ME —

3 Month Euribor

3 ML —

3 Month USD LIBOR

6 ME —

6 Month Euribor

6 ML —

6 Month USD LIBOR

USFRBPLR —

US Federal Reserve Bank Prime Loan Rate

AIG Senior Floating Rate Fund

PORTFOLIO OF INVESTMENTS — June 30, 2021 — (unaudited) (continued)

Forward Foreign Currency Contracts

Counterparty

Contract to
Deliver

In Exchange
For

Delivery
Date

Unrealized
Appreciation

Unrealized
Depreciation

JPMorgan Chase Bank N.A.

EUR

7,768,217

USD

9,260,639

07/07/2021

48,476

—

The following is a summary of the inputs used to value the Fund’s net assets as of June 30, 2021 (see Note 2):


	Level 1 — Unadjusted Quoted Prices		Level 2 — Other Observable Inputs		Level 3 — Significant Unobservable Inputs		Total
ASSETS:
Investments at Value:*

Loans:
Energy Equipment & Services	$	—	$	373,044	$	8,521	$	381,565
Other Industries		—		102,828,505		—		102,828,505
U.S. Corporate Bonds & Notes		—		5,203,797		—		5,203,797
Foreign Corporate Bonds & Notes		—		2,223,729		—		2,223,729
Common Stocks:
Energy Equipment & Services		—		—		0		0
Oil, Gas & Consumable Fuels		—		89,162		157,404		246,566
Other Industries		—		314,798		—		314,798
Exchange-Traded Funds		9,968,016		—		—		9,968,016
Warrants		—		—		534		534
Escrows and Litigation Trusts		—		—		0		0
Short-Term Investment Securities		8,878,206		—		—		8,878,206

Total Investments at Value	$	18,846,222	$	111,033,035	$	166,459	$	130,045,716

Other Financial Instruments:@
Forward Foreign Currency Contracts	$	—	$	48,476	$	—	$	48,476

*	For a detailed presentation of investments, please refer to the Portfolio of Investments.

@	Amounts represent unrealized appreciation/depreciation as of the end of the reporting period.

At the beginning and end of the reporting period, Level 3 investments in securities were not considered a material portion of the Fund. There were no material Level 3 transfers during the reporting period.

See Notes to Financial Statements

SunAmerica Senior Floating Rate Fund, Inc.

NOTES TO FINANCIAL STATEMENTS — June 30, 2021 — (unaudited)

Note 1. Organization of the Fund

SunAmerica Senior Floating Rate Fund, Inc. (the “Corporation”) is an open-end, diversified management investment company organized as a Maryland corporation in 1998 and is registered under the Investment Company Act of 1940, as amended (the “1940 Act”). The Corporation consists of one series — AIG Senior Floating Rate Fund (the “Fund”). The Fund is managed by SunAmerica Asset Management, LLC (the “Adviser” or “SunAmerica”), an indirect wholly-owned subsidiary of American International Group, Inc. (“AIG”). The Fund’s investment goal and principal investment techniques are to provide as high a level of current income as is consistent with the preservation of capital by investing, under normal market conditions, at least 80% of its net assets, plus any borrowings for investment purposes, in senior secured floating rate loans and other institutionally traded secured floating rate debt obligations (“Loans”). The Fund may also purchase both investment grade and high yield fixed income securities and money market instruments, although the Fund may not invest more than 10% of its total assets in high yield fixed income securities. The Fund may invest in foreign securities, including up to 10% of its total assets in non-U.S. dollar denominated Loans and high yield fixed income securities and up to 25% of its total assets in U.S. dollar denominated Loans issued by non-U.S. companies.

The Fund offers three classes of shares: Class A, Class C and Class W. These classes within the Fund are presented in the Statement of Assets and Liabilities. The cost structure for each class is as follows:

Class A shares—

Offered at net asset value per share plus an initial sales charge. Additionally, purchases of Class A shares in excess of $1,000,000 will be purchased at net asset value but will be subject to a contingent deferred sales charge (“CDSC”) on redemptions made within one year of purchase.

Class C shares—

Offered at net asset value without an initial sales charge and may be subject to a CDSC on redemptions made within 12 months of purchase. Effective September 30, 2020, Class C shares convert automatically to Class A shares approximately eight years after purchase and at such time will be subject to the lower distribution fee applicable to Class A shares.

Class W shares—

Offered at net asset value per share. The class is offered exclusively through advisory fee-based programs sponsored by certain financial intermediaries and other programs.

Each class of shares bears the same voting, dividend, liquidation and other rights and conditions, except as may otherwise be provided in the Fund’s registration statement. Class A and Class C shares each make distribution and account maintenance fee payments under the distribution plans pursuant to Rule 12b-1 under the 1940 Act, with Class C shares being subject to higher distribution fee rates. Class W shares have not adopted a 12b-1 plan and make no payments thereunder, however, Class W shares pay a service fee to the Fund’s distributor for providing administrative and shareholder services.

Indemnifications: The Fund’s organizational documents provide current and former officers and directors with a limited indemnification against liabilities arising out of the performance of their duties to the Fund. In addition, pursuant to Indemnification Agreements between the Fund and each of the current directors who is not an “interested person,” as defined in Section 2(a)(19) of the 1940 Act, of the Fund (collectively, the “Disinterested Directors”), the Fund provides the Disinterested Directors with a limited indemnification against liabilities arising out of the performance of their duties to the Fund, whether such liabilities are asserted during or after their service as directors. In addition, in the normal course of business, the Fund enters into contracts that contain the obligation to indemnify others. The Fund’s maximum exposure under these arrangements is unknown. Currently, however, the Fund expects the risk of loss to be remote.

Note 2. Significant Accounting Policies

The preparation of financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from these estimates and those differences could be significant. The Fund is considered an investment company under GAAP and follows the accounting and reporting guidance applicable to

SunAmerica Senior Floating Rate Fund, Inc.

NOTES TO FINANCIAL STATEMENTS — June 30, 2021 — (unaudited) (continued)

investment companies. The following is a summary of significant accounting policies consistently followed by the Fund in the preparation of its financial statements:

Security Valuation: In accordance with the authoritative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. In accordance with GAAP, fair value is defined as the price that the Fund would receive upon selling an asset or transferring a liability in a timely transaction to an independent third party in the principal or most advantageous market. GAAP establishes a three-tier hierarchy to provide more transparency around the inputs used to measure fair value and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The three-tiers are as follows:

Level 1 — Unadjusted quoted prices in active markets for identical securities

Level 2 — Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, referenced indices, quoted prices in inactive markets, adjusted quoted prices in active markets, adjusted quoted prices on foreign equity securities that were adjusted in accordance with pricing procedures approved by the Board of Directors (the “Board”), etc.)

Level 3 — Significant unobservable inputs (includes inputs that reflect the Fund’s own assumptions about the assumptions market participants would use in pricing the security, developed based on the best information available under the circumstances)

Changes in valuation techniques may result in transfers in or out of an investment’s assigned Level within the hierarchy. The methodology used for valuing investments is not necessarily an indication of the risk associated with investing in those investments and the determination of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to each security.

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 recently issued 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 summary of the Fund’s assets and liabilities classified in the fair value hierarchy as of June 30, 2021, is reported on a schedule at the end of the Portfolio of Investments.

Stocks are generally valued based upon closing sales prices reported on recognized securities exchanges on which the securities are principally traded and are generally categorized as Level 1. Stocks listed on the NASDAQ are valued using the NASDAQ Official Closing Price (“NOCP”). Generally, the NOCP will be the last sale price unless the reported trade for the stock is outside the range of the bid/ask price. In such cases, the NOCP will be normalized to the nearer of the bid or ask price. For listed securities having no sales reported and for unlisted securities, such securities will be valued based upon the last reported bid price.

As of the close of regular trading on the New York Stock Exchange (“NYSE”), securities traded primarily on security exchanges outside the United States are valued at the last sale price on such exchanges on the day of valuation, or if there is no sale on the day of valuation, at the last-reported bid price. If a security’s price is available from more than

SunAmerica Senior Floating Rate Fund, Inc.

NOTES TO FINANCIAL STATEMENTS — June 30, 2021 — (unaudited) (continued)

one exchange, the Fund uses the exchange that is the primary market for the security. Such securities are generally categorized as Level 1. However, depending on the foreign market, closing prices may be up to 15 hours old when they are used to price a Fund’s shares, and the Fund may determine that certain closing prices do not reflect the fair value of the security. This determination will be based on the review of a number of factors, including developments in foreign markets, the performance of U.S. securities markets, and the performance of instruments trading in U.S. markets that represent foreign securities and baskets of foreign securities. If the Fund determines that closing prices do not reflect the fair value of the securities, the Fund will adjust the previous closing prices in accordance with pricing procedures approved by the Board to reflect what it believes to be the fair value of the securities as of the close of regular trading on the NYSE. The Fund may also fair value securities in other situations, for example, when a particular foreign market is closed but the Fund is open. For foreign equity securities and foreign equity futures contracts, the Fund uses an outside pricing service to provide it with closing market prices and information used for adjusting those prices, and when so adjusted, such securities and futures are generally categorized as Level 2.

Bonds, debentures, and other debt securities are valued at evaluated bid prices obtained for the day of valuation from a Board-approved pricing service, and are generally categorized as Level 2. The pricing service may use valuation models or matrix pricing which considers information with respect to comparable bond and note transactions, quotations from bond dealers, or by reference to other securities that are considered comparable in such characteristics as rating, interest rate, and maturity date, option adjusted spread models, prepayments projections, interest rate spreads, and yield curves to determine current value. If a price is unavailable from a Board-approved pricing service, the securities may be priced at the mean of two independent quotes obtained from brokers.

Senior secured floating rate loans (“Loans”) are valued at the average of available bids in the market for such Loans, as provided by a Board-approved loan pricing service, and are generally categorized as Level 2.

Investments in registered investment companies that do not trade on an exchange are valued at the end of day net asset value per share. Investments in registered investment companies that trade on an exchange are valued at the last sales price or official closing price as of the close of the customary trading session on the exchange where the security is principally traded. Investments in registered investment companies are generally categorized as Level 1.

Swap contracts traded on national securities exchanges are valued at the closing price of the exchange on which they are traded or if a closing price of the exchange is not available, the swap will be valued using a mid valuation provided by a Board-approved pricing service, and are generally categorized as Level 2. Swap contracts traded in the over-the-counter (“OTC”) market are valued at a mid valuation provided by a Board-approved pricing service, and are generally categorized as Level 2. Forward foreign currency contracts (“forward contracts”) are valued at the 4:00 pm Eastern time forward rate and are generally categorized as Level 2.

The Board is responsible for the share valuation process and has adopted policies and procedures (the “PRC Procedures”) for valuing the securities and other assets held by the Fund, including procedures for the fair valuation of securities and other assets for which market quotations are not readily available or are unreliable. The PRC Procedures provide for the establishment of a pricing review committee, which is responsible for, among other things, making certain determinations in connection with the Fund’s fair valuation procedures. Securities for which market quotations are not readily available or the values of which may be significantly impacted by the occurrence of developments or significant events are generally categorized as Level 3. There is no single standard for making fair value determinations, which may result in prices that vary from those of other funds.

Derivative Instruments:

Forward Foreign Currency Contracts: During the period, the Fund used forward contracts to protect against uncertainty in the level of future exchange rates.

A forward contract is an agreement between two parties to buy or sell currency at a set price on a future date. The market value of the contract will fluctuate with changes in currency exchange rates. The contract is marked-to-market

SunAmerica Senior Floating Rate Fund, Inc.

NOTES TO FINANCIAL STATEMENTS — June 30, 2021 — (unaudited) (continued)

daily using the forward rate and the cumulative change in market value is recorded by the Fund as unrealized appreciation or depreciation. On the settlement date, the Fund records either realized gains or losses equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

Risks to the Fund of entering into forward contracts include counterparty risk, market risk and illiquidity risk. Counterparty risk arises upon entering into these contracts from the potential inability of counterparties to meet the terms of their contracts. If the counterparty defaults, the Fund’s loss will generally consist of the net amount of contractual payments that the Fund has not yet received though the Fund’s maximum exposure due to counterparty risk could extend to the notional amount of the contract. Market risk is the risk that the value of the forward contract will depreciate due to unfavorable changes in the exchange rates. These contracts may involve market risk in excess of the unrealized appreciation or depreciation reported on the Statement of Assets and Liabilities. Illiquidity risk arises because the secondary market for forwards may have less liquidity relative to markets for other securities. Currency transactions are also subject to risks different from those of other portfolio transactions. Because currency control is of great importance to the issuing governments and influences economic planning and policy, purchases and sales of currency and related instruments can be adversely affected by government exchange controls, limitations or restrictions on repatriation of currency, and manipulations or exchange restrictions imposed by governments.

Forward foreign currency contracts outstanding at the end of the period, if any, are reported on a schedule at the end of the Fund’s Portfolio of Investments.

Master Agreements: The Fund holds derivative instruments and other financial instruments whereby the Fund may be a party to ISDA (International Swaps and Derivatives Association, Inc.) Master Agreements or similar agreements (“Master Agreements”) with certain counterparties that govern such instruments. Master Agreements may contain provisions regarding, among other things, the parties’ general obligations, representations, agreements, collateral requirements, events of default and early termination. Collateral can be in the form of cash or securities as agreed to by the Fund and applicable counterparty. Collateral requirements are generally determined based on the Fund’s net position with each counterparty. Master Agreements may also include certain provisions that require the Fund to post additional collateral upon the occurrence of certain events, such as when a Fund’s net assets fall below a specified level. In addition, Master Agreements typically specify certain standard termination events, such as failure of a party to pay or deliver, credit support defaults and other events of default. Termination events applicable to the Fund may also occur upon a decline in the Fund’s net assets below a specified level over a certain period of time. Additional termination events applicable to counterparties may occur upon a decline in a counterparty’s long-term and short-term credit ratings below a specified level, or upon a decline in the ratings of a counterparty’s credit support provider. Upon the occurrence of a termination event, the other party may elect to terminate early and cause settlement of all instruments outstanding pursuant to a particular Master Agreement, including the payment of any losses and costs resulting from such early termination, as reasonably determined by the terminating party. Any decision by one or more of the Fund’s counterparties to elect early termination could cause the Fund to accelerate the payment of liabilities, which settlement amounts could be in excess of the amount of assets that are already posted as collateral. Typically, the Master Agreement will permit a single net payment in the event of default. Note, however, that bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset in bankruptcy, insolvency or other events. As a result, the early termination with respect to derivative instruments subject to Master Agreements that are in a net liability position could be material to the Fund’s financial statements. The Fund does not offset derivative assets and derivative liabilities that are subject to netting arrangements in the Statement of Assets and Liabilities.

The following tables represent the value of derivatives held as of June 30, 2021, by their primary underlying risk exposure and respective location on the Statement of Assets and Liabilities and the effect of derivatives on the Statement of Operations for the six months ended June 30, 2021. The derivative contracts held during the period are not accounted for as hedging instruments under GAAP. For a detailed presentation of derivatives held as of June 30, 2021, please refer to the schedule at the end of the Fund’s Portfolio of Investments.

SunAmerica Senior Floating Rate Fund, Inc.

NOTES TO FINANCIAL STATEMENTS — June 30, 2021 — (unaudited) (continued)


Asset Derivatives				Liability Derivatives
Forward Foreign Currency Contracts(1)				Forward Foreign Currency Contracts(2)
Foreign Exchange Contracts				Foreign Exchange Contracts
$48,476				$0

Statement of Assets and Liabilities Location:

(1) Unrealized appreciation on forward foreign currency contracts

(2) Unrealized depreciation on forward foreign currency contracts


Realized Gain (Loss) on Derivatives Recognized in Statement of Operations				Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Statement of Operations
Forward Foreign Currency Contracts(1)				Forward Foreign Currency Contracts(2)
Foreign Exchange Contracts				Foreign Exchange Contracts
$281,300				$125,907

Statement of Operations Location:

(1) Net realized gain (loss) on forward contracts

(2) Change in unrealized appreciation (depreciation) on forward contracts

The following table represents the average monthly balances of derivatives held during the six months ended June 30, 2021.

Average Amount Outstanding During the Period

Foreign Exchange Contracts(1)

$14,964,089

(1) Amounts represent notional amounts in US dollars.

The following table sets forth the Fund's derivative assets and liabilities by counterparty, net of amounts available for offset under Master Agreements and net of the related collateral pledged/(received) as of June 30, 2021.


	Derivative Assets(1)				Derivative Liabilities(1)
Counterparty	Forward Foreign Currency Contracts		Total		Forward Foreign Currency Contracts		Total		Net Derivative Assets (Liabilities)		Collateral Pledged/ (Received)(2)		Net Amount(3)
JPMorgan Chase Bank N.A	$	48,476	$	48,476	$	—	$	—	$	48,476	$	—	$	48,476

(1)

Gross amounts of recognized assets and liabilities not offset in the Statement of Assets and Liabilities.

(2)

For each respective counterparty, collateral pledged or (received) is limited to an amount not to exceed 100% of the derivative asset/liability in the table above.

(3)

Net amount represents the net amount due (to)/from counterparty in the event of a default based on the contractual set-off rights under the agreement.

Repurchase Agreements: The Fund, along with other affiliated registered investment companies, pursuant to procedures adopted by the Board and applicable guidance from the Securities and Exchange Commission (“SEC”), may transfer uninvested cash balances into a single joint account, the daily aggregate balance of which is invested in one or more repurchase agreements collateralized by U.S. Treasury or federal agency obligations. In a repurchase agreement, the seller of a security agrees to repurchase the security at a mutually agreed-upon time and price, which reflects the effective rate of return for the term of the agreement. For repurchase agreements and joint repurchase agreements, the Fund’s custodian takes possession of the collateral pledged for investments in such repurchase agreements (“repo” or collectively “repos”). The underlying collateral is valued daily on a mark to market basis, plus accrued interest, to ensure that the value, at the time the agreement is entered into, is equal to at least 102% of the repurchase price, including accrued interest. In the event of default of the obligation to repurchase, the Fund has the right to liquidate the collateral and apply the proceeds in satisfaction of the obligation. If the seller defaults and the value of the collateral declines or if bankruptcy proceedings are commenced with respect to the seller of the security, realization of the collateral by the Fund may be delayed or limited.

SunAmerica Senior Floating Rate Fund, Inc.

NOTES TO FINANCIAL STATEMENTS — June 30, 2021 — (unaudited) (continued)

When-Issued Securities and Forward Commitments: The Fund may purchase or sell when-issued securities that have been authorized, but not yet issued in the market. In addition, the Fund may purchase or sell securities on a forward commitment basis. A forward commitment involves entering into a contract to purchase or sell securities, typically on an extended settlement basis, for a fixed price at a future date. The Fund may engage in when-issued or forward commitment transactions in order to secure what is considered to be an advantageous price and yield at the time of entering into the obligation. The purchase of securities on a when-issued or forward commitment basis involves a risk of loss if the value of the security to be purchased declines before the settlement date. Conversely, the sale of securities on a when-issued or forward commitment basis involves the risk that the value of the securities sold may increase before the settlement date. Securities purchased or sold on a when-issued or forward commitment basis outstanding at the end of the period, if any, are included in investments purchased/sold on an extended settlement basis in the Statement of Assets and Liabilities.

Loans: The Fund invests in senior loans which generally consist of direct debt obligations of companies (collectively, “Borrowers”), primarily U.S. companies and their affiliates, undertaken to finance the growth of the Borrower’s business internally and externally, or to finance a capital restructuring. Transactions in senior loans may settle on a delayed basis. Unsettled loans at the end of the period, if any, are included in investments purchased/sold on an extended settlement basis in the Statement of Assets and Liabilities.

Securities Transactions, Investment Income, Expenses, Dividends and Distributions to Shareholders: Security transactions are recorded on a trade date basis. Realized gains and losses on sales of investments are calculated on the identified cost basis. Interest income is accrued daily from settlement date except when collection is not expected. Dividend income is recorded on the ex-dividend date. For financial statement purposes, the Fund amortizes all premiums and accretes all discounts. Facility fees are accreted over the life of the loan. Fees in the amount of $82,246 were recognized for the six months ended June 30, 2021. Other income, including amendment fees, commitment fees, letter of credit fees, etc., which were $78,682 for the six months ended June 30, 2021, are recorded as income when received or contractually due to the Fund.

Net investment income, other than class specific expenses, and realized and unrealized gains and losses are allocated daily to each class of shares based upon the relative value of outstanding shares (or the value of dividend-eligible shares, as appropriate) of each class of shares at the beginning of the day (after adjusting for the current capital share activity of the respective class).

Dividends from net investment income are normally declared daily and paid monthly. Capital gain distributions, if any, are paid annually. The Fund records dividends and distributions to the shareholders on the ex-dividend date. The amount of dividends and distributions from net investment income and net realized capital gains are determined in accordance with federal income tax regulations, which may differ from GAAP. These “book/tax” differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the capital accounts at fiscal year end based on their federal tax-basis treatment; temporary differences do not require reclassification. Net assets are not affected by the reclassifications.

The Fund is considered a separate entity for tax purposes and intends to comply with the requirements of the Internal Revenue Code, as amended, applicable to regulated investment companies and distribute all of its taxable income, including any net capital gains on investments, to its shareholders. The Fund also intends to distribute sufficient net investment income and net capital gains, if any, so that the Fund will not be subject to excise tax on undistributed income and gains. Therefore, no federal income tax or excise tax provision is required.

The Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained, assuming examination by tax authorities. Management has analyzed the Fund’s tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions. The Fund is not aware of any tax provisions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next twelve months. The Fund files U.S. federal and certain state income tax returns. The Funds’ federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service.

SunAmerica Senior Floating Rate Fund, Inc.

NOTES TO FINANCIAL STATEMENTS — June 30, 2021 — (unaudited) (continued)

Foreign Currency Translation: The books and records of the Fund is maintained in U.S. dollars. Assets and liabilities denominated in foreign currencies and commitments under forward foreign currency contracts are translated into U.S. dollars based on the exchange rate of such currencies against U.S. dollars on the date of valuation.

The Fund does not isolate that portion of the results of operations arising as a result of changes in the foreign exchange rates from the changes in the market prices of securities held at the end of the period. Similarly, the Fund does not isolate the effect of changes in foreign exchange rates from the changes in the market prices of portfolio securities sold during the period.

Realized foreign exchange gains and losses on other assets and liabilities and change in unrealized foreign exchange gains and losses on other assets and liabilities located in the Statements of Operations include realized foreign exchange gains and losses from currency gains or losses between the trade and the settlement dates of securities transactions, the difference between the amounts of interest, dividends and foreign withholding taxes recorded on the Funds’ books and the U.S. dollar equivalent amounts actually received or paid and changes in the unrealized foreign exchange gains and losses relating to the other assets and liabilities arising as a result of changes in the exchange rates.

LIBOR Risk: A fund’s investments, payment obligations and financing terms may be based on floating rates, such as London Interbank Offer Rate (“LIBOR”), Euro Interbank Offered Rate and other similar types of reference rates (each, a “Reference Rate”). On July 27, 2017, the Chief Executive of the UK Financial Conduct Authority (“FCA”), which regulates LIBOR, announced that the FCA will no longer persuade nor require banks to submit rates for the calculation of LIBOR and certain other Reference Rates after 2021. On March 5, 2021, the FCA and LIBOR’s administrator announced that most LIBOR settings will no longer be published after June 30, 2023. Such announcements indicate that the continuation of LIBOR and other Reference Rates on the current basis cannot and will not be guaranteed. These announcements and any additional regulatory or market changes may have an adverse impact on a fund or its investments.

Regulators and market participants are working together to identify or develop successor Reference Rates. It is expected that market participants will focus on the transition mechanisms by which the Reference Rates in existing contracts or instruments may be amended, whether through market wide protocols, fallback contractual provisions, bespoke negotiations or amendments or otherwise. Nonetheless, the termination of certain Reference Rates presents risks to a Fund. At this time, it is not possible to completely identify or predict the effect of any such changes, any establishment of alternative Reference Rates or any other reforms to Reference Rates that may be enacted in the UK or elsewhere. The elimination of a Reference Rate or any other changes or reforms to the determination or supervision of Reference Rates, and these changes could have an adverse impact on the market for or value of any securities or payments linked to those Reference Rates and other financial obligations held by a Fund or on its overall financial condition or results of operations. In addition, any substitute Reference Rate and any pricing adjustments imposed by a regulator or by counterparties or otherwise may adversely affect a Fund’s performance and/or net asset value.

Recent Accounting and Regulatory Developments: In March 2020, FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848); Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides, optional, temporary relief with respect to the financial reporting of contracts subject to certain types of modifications due to the planned discontinuation of the LIBOR and IBORbased reference rates as of the end of 2021. The temporary relief provided by ASU 2020-04 is effective for certain reference rate-related contract modifications that occur during the period March 12, 2020 through December 31, 2022. Management is evaluating the potential impact of ASU 2020-04 to the financial statements.

On December 3, 2020, the SEC announced that it voted to adopt a new rule that establishes an updated regulatory framework for fund valuation practices (the “Rule”). The Rule, in part, provides (i) a framework for determining fair value in good faith and (ii) provides for a fund Board’s assignment of its responsibility for the execution of valuation related activities to a fund’s investment adviser. Further, the SEC is rescinding previously issued guidance on related

SunAmerica Senior Floating Rate Fund, Inc.

NOTES TO FINANCIAL STATEMENTS — June 30, 2021 — (unaudited) (continued)

issues. The Rule became effective on March 8, 2021 and has a compliance date of September 8, 2022 (eighteen months following the effective date). Management is currently evaluating the Rule and its impact to the Funds.

Note 3. Capital Share Transactions


	For the six months ended June 30, 2021 (unaudited)						For the year ended December 31, 2020
Class A	Shares			Amount			Shares			Amount
Shares sold		1,158,304		$	8,988,654			2,943,661		$	21,956,789
Reinvested dividends		160,833			1,249,097			302,929			2,267,176
Shares redeemed		(1,852,313	)		(14,373,166	)		(3,147,561	)		(23,462,971	)

Net increase (decrease) in shares outstanding before automatic conversion		(533,176	)		(4,135,415	)		99,029			760,994
Shares issued/(reacquired) upon automatic conversion		185,165			1,435,974			455,369			3,432,595

Net increase (decrease)		(348,011	)	$	(2,699,441	)		554,398		$	4,193,589


	For the six months ended June 30, 2021 (unaudited)						For the year ended December 31, 2020
Class C	Shares			Amount			Shares			Amount
Shares sold		96,020		$	754,532			272,346		$	2,059,596
Reinvested dividends		51,896			402,794			160,108			1,195,546
Shares redeemed		(894,188	)		(6,932,968	)		(4,521,695	)		(33,552,394	)

Net increase (decrease) in shares outstanding before automatic conversion		(746,272	)		(5,775,642	)		(4,089,241	)		(30,297,252	)
Shares issued/(reacquired) upon automatic conversion		(185,199	)		(1,435,974	)		(455,910	)		(3,432,595	)

Net increase (decrease)		(931,471	)	$	(7,211,616	)		(4,545,151	)	$	(33,729,847	)


	For the six months ended June 30, 2021 (unaudited)						For the year ended December 31, 2020
Class W	Shares			Amount			Shares			Amount
Shares sold		145,709		$	1,137,255			663,580		$	5,151,381
Reinvested dividends		29,407			229,146			94,360			710,489
Shares redeemed		(488,563	)		(3,808,147	)		(3,392,317	)		(25,163,159	)

Net increase (decrease)		(313,447	)		(2,441,746	)		(2,634,377	)	$	(19,301,289	)

Note 4. Purchases and Sales of Securities

During the six months ended June 30, 2021, the Fund’s cost of purchases and proceeds from sale of long-term investments, including loan principal paydowns, were $50,665,433 and $74,965,892, respectively.

Note 5. Investment Advisory Agreement and Other Transactions with Affiliates

The Fund has entered into an Investment Advisory and Management Agreement (the “Advisory Agreement”) with SunAmerica. Pursuant to the Advisory Agreement, SunAmerica provides continuous supervision of the Fund and administers its corporate affairs, subject to the general review and oversight of the Board. In connection therewith, SunAmerica furnishes the Fund with office facilities, maintains certain of the Fund’s books and records and pays the salaries and expenses of all personnel, including officers of the Fund who are employees of SunAmerica and its affiliates. SunAmerica also selects, contracts with and compensates the subadviser to manage the Fund’s assets. The Fund will pay SunAmerica a monthly management fee at the following annual rates, based on the average daily net assets of the Fund: 0.85% on the first $1 billion; 0.80% on the next $1 billion; and 0.75% in excess of $2 billion.

SunAmerica Senior Floating Rate Fund, Inc.

NOTES TO FINANCIAL STATEMENTS — June 30, 2021 — (unaudited) (continued)

Pursuant to an Advisory Fee Waiver Agreement, SunAmerica is contractually obligated to waive its advisory fee with respect to the Fund so that the advisory fee payable by the Fund to SunAmerica equals 0.63% on the first $2 billion of average daily net assets and 0.58% above $2 billion of average daily net assets. For the six months ended June 30, 2021, SunAmerica waived $160,272 of investment advisory fees.

Wellington Management Company LLP (“Wellington”) acts as subadviser to the Fund pursuant to a Subadvisory Agreement with SunAmerica. Under the Subadvisory Agreement, Wellington manages the investment and reinvestment of the Fund’s assets. The fee paid to the subadviser is paid by SunAmerica and not the Fund.

Pursuant to the Administrative Services Agreement (the “Administrative Agreement”), SunAmerica acts as the Fund’s administrator and is responsible for providing and supervising the performance by others, of administrative services in connection with the operations of the Fund, subject to supervision by the Fund’s Board. For its services, SunAmerica receives an annual fee equal to 0.20% of average daily net assets of the Fund. For the six months ended June 30, 2021, SunAmerica earned fees as reflected in the Statement of Operations based upon the aforementioned rate.

The Fund has entered into a Distribution Agreement with AIG Capital Services, Inc. (“ACS” or the “Distributor”), an affiliate of the Adviser. The Fund has adopted a Distribution Plan on behalf of each class of shares (other than Class W shares) (each a “Plan” and collectively, the “Plans”) in accordance with the provisions of Rule 12b-1 under the 1940 Act, hereinafter referred to as the “Class A Plan” and “Class C Plan”. In adopting the Plans, the Board determined that there was a reasonable likelihood that each such Plan would benefit the Fund and the shareholders of the respective class. The sales charge and distribution fees of a particular class will not be used to subsidize the sale of shares of any other class.

Under the Class A Plan and Class C Plan, the Distributor receives payments from the Fund at an annual rate of 0.10% and 0.50%, respectively, of the average daily net assets of the Fund’s Class A and Class C shares to compensate the Distributor and certain securities firms for providing sales and promotional activities for distributing that class of shares. The distribution costs for which the Distributor may be compensated include fees paid to broker-dealers that have sold Fund shares, commissions and other expenses such as those incurred for sales literature, prospectus printing and distribution and compensation to wholesalers. It is possible that in any given year, the amount paid to the Distributor under each Class’ Plan may exceed the Distributor’s distribution costs as described above. The Plans provide that the Class A and Class C shares of the Fund will pay the Distributor an account maintenance fee up to an annual rate of 0.25% of the aggregate average daily net assets of such class of shares for payments to compensate the Distributor and certain securities firms for account maintenance activities. The Distributor does not receive or retain any distribution and/or account maintenance fees for any shares when the shareholder does not have a broker of record. For the six months ended June 30, 2021, ACS received fees (see Statement of Operations) based upon the aforementioned rates.

The Fund has entered into an Administrative and Shareholder Services Agreement with ACS, pursuant to which ACS is paid an annual fee of 0.15% of average daily net assets of Class W shares as compensation for providing additional shareholder services to Class W shareholders. For the six months ended June 30, 2021, ACS earned fees as reflected in the Statement of Operations based on the aforementioned rate.

For the six months ended June 30, 2021, ACS received sales charges on Class A shares of $10,549, of which $3,807 was reallowed to affiliated broker-dealers and $3,802 to non-affiliated broker-dealers. In addition, ACS receives the proceeds of contingent deferred sales charges paid by investors in connection with certain redemptions of Class A and Class C shares. For the six months ended June 30, 2021, ACS received contingent deferred sales charges of $1,810.

The Fund has entered into a Service Agreement with AIG Fund Services, Inc. (“AFS”) an affiliate of the Adviser. Under the Service Agreement, AFS performs certain shareholder account functions by assisting the Fund’s transfer

SunAmerica Senior Floating Rate Fund, Inc.

NOTES TO FINANCIAL STATEMENTS — June 30, 2021 — (unaudited) (continued)

agent in connection with the services that it offers to the shareholders of the Fund. The Service Agreement, which permits the Fund to compensate AFS for services rendered based upon an annual rate of 0.22% of average daily net assets, is approved annually by the Board. For the six months ended June 30, 2021, the Fund incurred the following expenses, which are included in the transfer agent fees and expenses payable in the Statement of Assets and Liabilities and in transfer agent fees and expenses in the Statement of Operations to compensate AFS pursuant to the terms of the Service Agreement.


	Expense		Payable at
Class A	$	107,307	$	17,366
Class C		37,388		5,522
Class W		15,577		2,398

SunAmerica has contractually agreed to waive fees and/or reimburse expenses to the extent necessary to cap the Fund’s annual operating expenses at 1.02% for Class A, 1.42% for Class C and 0.82% for Class W of average daily net assets. For purposes of waived fees and/or reimbursed expense calculations, annual Fund operating expenses shall not include extraordinary expenses, (i.e., expenses that are unusual in nature and infrequent in occurrence, such as litigation), or acquired fund fees and expenses, brokerage commissions and other transactional expenses relating to the purchase and sale of portfolio securities, interest, taxes and governmental fees and other expenses not incurred in the ordinary course of the Fund’s business. The expense reimbursements and fee waivers will continue indefinitely, unless terminated by the Board, including a majority of the Disinterested Directors. For the six months ended June 30, 2021, SunAmerica waived fees and/or reimbursed expenses as follows: Class A $312,615, Class C $110,424 and Class W $49,504.

Note 6. Federal Income Taxes

The following details the tax basis distributions as well as the components of distributable earnings. The tax basis components of distributable earnings differ from the amounts reflected in the Statement of Assets and Liabilities by temporary book/tax differences primarily arising from dividends payable, treatment of defaulted securities and wash sales.

Distributable Earnings

Tax Distributions

For the year ended December 31, 2020

For the year ended December 31, 2019

Ordinary

Income

Long-term Gains,

Capital and

Other Losses

Unrealized
Appreciation/
(Depreciation)

Ordinary

Income

Long-term

Capital Gains

Return of

Capital

Ordinary

Income

Long-term

Capital Gains

$ —

$(35,969,000)

$(1,900,896)

$4,188,956

$ —

$595,179

$10,824,840

$ —

Capital Loss Carryforwards: At December 31, 2020 for Federal income tax purposes, the Fund has $34,460,224 of unlimited long-term capital losses and $1,508,776 of unlimited short-term capital losses.

Under the current law, capital losses realized after October 31 and specified ordinary losses may be deferred and treated as occurring on the first day of the following year. For the year ended December 31, 2020, the fund deferred $2,433,149 of post-October capital losses, consisting of $114,972 short-term gains and $2,548,121 of long-term losses.

For the year ended December 31, 2020, reclassifications were made to increase accumulated net realized gain (loss) by $997,006, decrease paid in capital by $595,179 and decrease undistributed net investment income by $401,826. The reclassifications arising from book/tax differences were due primarily to return of capital and the reclassification of foreign currency gains and losses.

SunAmerica Senior Floating Rate Fund, Inc.

NOTES TO FINANCIAL STATEMENTS — June 30, 2021 — (unaudited) (continued)

At June 30, 2021, the amounts of aggregate unrealized gain (loss) and the cost of investment securities for federal tax purposes, including short-term securities, repurchase agreements and derivatives, were as follows:


Cost (tax basis)	$	131,642,451

Gross unrealized appreciation	$	1,241,565
Gross unrealized depreciation		(2,712,393	)

Net unrealized depreciation	$	(1,470,828	)

Note 7. Line of Credit

The Fund, along with certain other funds managed by the Adviser, has access to a $75 million committed unsecured line of credit and a $50 million uncommitted unsecured line of credit. The committed and uncommitted lines of credit are renewable on an annual basis with State Street Bank and Trust Company (“State Street”), the Fund’s custodian. Interest on each of the committed and uncommitted lines of credit is payable at a variable rate per annum equal to the Applicable Rate plus one and one quarter of one percent (1.25%). The Applicable Rate per annum shall be equal to the higher of (a) the Federal Funds Effective Rate on such date and (b) the Overnight Bank Funding Rate on such date, plus, in each case, 10 basis points. Notwithstanding anything to the contrary, if the Federal Funds Effective Rate or the Overnight Bank Funding Rate shall be less than zero, then the Federal Funds Effective Rate or the Overnight Bank Funding Rate, shall be deemed to be zero for the purposes of determining the rate. The Fund has paid State Street for its own account, the Fund’s ratable portion of an upfront fee in an amount equal to $40,000 in the aggregate for the uncommitted line of credit made available by State Street to certain other funds managed by the Adviser, which are also party to the uncommitted line of credit. There is also a commitment fee of 30 basis points per annum on the daily unused portion of the committed line of credit. Borrowings under the line of credit will commence when the respective Fund’s cash shortfall exceeds $100,000.

For the six months ended June 30, 2021, the Fund did not utilize the line of credit.

Note 8. Interfund Lending

Pursuant to the exemptive relief granted by the SEC, the Fund is permitted to participate in an interfund lending program among investment companies advised by SunAmerica or an affiliate. The interfund lending program allows the participating funds to borrow money from and lend money to each other for temporary or emergency purposes. An interfund loan will be made under this facility only if the participating funds receive a more favorable interest rate than would otherwise be available from a typical bank for a comparable transaction. For the six months ended June 30, 2021, the Fund did not participate in this program.

Note 9. Investment Concentration

The Fund invests primarily in participations and assignments, or acts as a party to the primary lending syndicate of a variable rate senior loan interest to United States corporations, partnerships, and other entities. If the lead lender in a typical lending syndicate becomes insolvent, enters receivership or, if not FDIC insured, enters into bankruptcy, the Fund may incur certain costs and delays in receiving payment, or may suffer a loss of principal and/or interest. When the Fund purchases a participation of a senior loan interest, the Fund typically enters into a contractual agreement with the lender or other third party selling the participation but not with the borrower directly. As such, the Fund is subject to the credit risk of the borrower, selling participant, lender or other persons positioned between the Fund and the borrower.

Note 10. Other Matters

The coronavirus pandemic and the related governmental and public responses have had and may continue to have an impact on the Fund’s investments and net asset value and have led and may continue to lead to increased market volatility and the potential for illiquidity in certain classes of securities and sectors of the market. Preventative or protective actions that governments may take in respect of pandemic or epidemic diseases may result in periods of

SunAmerica Senior Floating Rate Fund, Inc.

NOTES TO FINANCIAL STATEMENTS — June 30, 2021 — (unaudited) (continued)

business disruption, business closures, inability to obtain raw materials, supplies and component parts, and reduced or disrupted operations for the issuers in which the Fund invests. Government intervention in markets may impact interest rates, market volatility and security pricing. The occurrence, reoccurrence and pendency of such diseases could adversely affect the economies (including through changes in business activity and increased unemployment) and financial markets either in specific countries or worldwide.

Note 11. Subsequent Event

On February 8, 2021 SunAmerica and Touchstone Advisors, Inc. (“Touchstone”) announced that they have entered into a definitive agreement for Touchstone to acquire certain assets related to SunAmerica’s retail mutual fund management business (the “AIG Funds”). Under the terms of the agreement, twelve of the AIG Funds, including the AIG Senior Floating Rate Fund, were to be reorganized into either existing or newly created series of trusts in the Touchstone fund complex (the “Reorganizations”) advised by Touchstone under its sub-advised mutual fund approach. On February 8, 2021, the Boards of Directors/Trustees of the AIG Funds unanimously approved each of the proposed Reorganizations. On July 16, 2021, the Reorganization of the twelve AIG Funds, including AIG Senior Floating Rate Fund, was completed.

SunAmerica Senior Floating Rate Fund

STATEMENT REGARDING LIQUIDITY RISK MANAGEMENT PROGRAM

Pursuant to Rule 22e-4 under the 1940 Act, the Fund has adopted a liquidity risk management program. SunAmerica Asset Management, LLC (the “Adviser” or “SunAmerica”), the investment adviser to the Fund, has been designated by the Board to administer the Fund’s liquidity risk management program (the “Program”). The Adviser has appointed a Liquidity Risk Management Committee (the “Committee”) comprised of certain officers as well as certain personnel of the Adviser. The Committee is subject to the oversight of the Adviser. The Adviser and the Committee are referred to collectively herein as the “Program Administrator.” The Program is designed to assess, manage and periodically review the Fund’s liquidity risk, based on factors specific to the circumstances of the Fund. “Liquidity risk” means the risk that a Fund could not meet requests to redeem shares issued by the Fund without significant dilution of remaining investors’ interests in the Fund. During the fiscal year, the Program Administrator provided the Board with a report addressing the operations of the program and assessing its adequacy and effectiveness of implementation.

During the period covered by the liquidity Program report to the Board, the Program supported the Fund’s ability to honor redemption requests timely and the Adviser’s management of the Fund’s liquidity profile, including during periods of market volatility and net redemptions. The Program Administrator reported that it has reviewed the Program and believes that the Program is reasonably designed to assess and manage the liquidity risk of the Fund, that the Program has been effectively implemented to monitor and respond to liquidity developments (where necessary) and is operating effectively, and that the Program addresses potential liquidity risks in connection with the management of the Fund. Furthermore, the Program Administrator reported that the Fund was not operated as a “Primarily Highly Liquid Fund” during the review period, due to the nature of the Fund’s investment strategies and the related market, trading, and investment-specific factors such as holdings in bank loans, and therefore, was required to comply with the Highly Liquid Investment Minimum (“HLIM”) requirements, which the Program Administrator determined to be 4% of net assets. Finally, the Program Administrator reported that the Fund had no breaches of the limit on illiquid investments and no breaches of the HLIM where the percentage of the Fund’s net assets invested in highly liquid investments is less than the Fund’s HLIM, and therefore, no Board notification or regulatory filings were required.

There can be no assurance that the Program will achieve its objectives in the future. Please refer to your Fund’s prospectus for more information regarding the Fund’s exposure to liquidity risk and other principal risks to which an investment in the Fund may be subject.

SunAmerica Senior Floating Rate Fund, Inc.

APPROVAL OF THE INVESTMENT ADVISORY AND MANAGEMENT AGREEMENT AND

SUBADVISORY AGREEMENT — June 30, 2021

The Board of Directors (the “Board,” the members of which are referred to as “Directors”) of AIG Senior Floating Rate Fund, Inc. (the “Fund”), including the Directors who are not “interested persons,” as defined in Section 2(a)(19) of the Investment Company Act of 1940, as amended (the “1940 Act”) (the “Independent Directors”), of the Fund, SunAmerica Asset Management, LLC (“SunAmerica”) or Wellington Management Company LLP (“Wellington”), approved the continuation of the Investment Advisory and Management Agreement between the Fund and SunAmerica (the “Advisory Agreement”) for a one-year period ending June 30, 2022 at a meeting held on June 8-9, 2021 (the “Meeting”).¹ At the Meeting, the Board, including the Independent Directors, also approved the continuation of the Subadvisory Agreement between SunAmerica and Wellington with respect to the Fund for a one-year period ending June 30, 2022 (the “Subadvisory Agreement,” and together with the Advisory Agreement, the “Agreements”).

Prior to the June 8-9, 2021 meeting at which the Agreements were approved, the Board also discussed and considered information regarding the proposed continuation of the Agreements at a meeting held on May 18, 2021.

In accordance with Section 15(c) of the 1940 Act, the Board requested, and SunAmerica and Wellington provided, materials relating to the Board’s consideration of whether to approve the continuation of the Agreements. These materials included: (a) a summary of the services provided to the Fund by SunAmerica and its affiliates, and by Wellington; (b) information independently compiled and prepared by Broadridge Financial Solutions, Inc. (“Broadridge”), an independent third-party provider of mutual fund data on fees and expenses of the Fund, and the investment performance of the Fund as compared with a peer group of funds, along with fee and performance data with respect to the Fund and any other mutual funds or accounts advised or subadvised by SunAmerica or Wellington with similar investment objectives and/or strategies, as applicable; (c) information on the profitability of SunAmerica and its affiliates, and a discussion relating to indirect benefits; (d) information relating to economies of scale; (e) information about SunAmerica’s general compliance policies and procedures and the services it provides in connection with its oversight of subadvisers; (f) information about SunAmerica’s and Wellington’s risk management processes; (g) information regarding brokerage and soft dollar practices; and (h) information about the key personnel of SunAmerica and its affiliates, and Wellington, who are involved in the investment management, administration, compliance and risk management activities with respect to the Fund, as well as current and projected staffing levels and compensation practices.

In determining whether to approve the continuation of the Agreements, the Board, including the Independent Directors, considered at the Meeting, and from time to time as appropriate, factors it deemed relevant, including the following information:

Nature, Extent and Quality of Services Provided by SunAmerica and Wellington. The Board, including the Independent Directors, considered the nature, extent and quality of services provided by SunAmerica. The Board noted that the services include acting as investment manager and adviser to the Fund, managing the daily business affairs of the Fund, and obtaining and evaluating economic, statistical and financial information to formulate and implement the Fund’s investment policies. Additionally, the Board observed that SunAmerica provides office space, bookkeeping, accounting, legal and compliance, clerical and administrative services and has authorized its officers and employees, if elected, to serve as officers or Directors of the Fund without compensation. The Board also noted that SunAmerica is responsible for monitoring and reviewing the activities of affiliated and unaffiliated third-party service providers, including Wellington. In addition to the quality of the advisory services provided by SunAmerica, the Board considered the quality of the administrative and other services provided by SunAmerica to the Fund pursuant to the Advisory Agreement. The Board further considered the significant risks assumed by SunAmerica in connection with the services provided to the Fund, including operational, reputational, liquidity, litigation, regulatory and compliance risks with respect to the Fund.

On March 25, 2020 and June 19, 2020, as a result of health and safety measures put in place to combat the global COVID-19 pandemic, the Securities and Exchange Commission issued exemptive orders (the “Orders”) pursuant to Sections 6(c) and 38(a) of the 1940 Act, that temporarily exempts registered investment management companies from the in-person voting requirements under the 1940 Act, subject to certain requirements, including that votes taken pursuant to the Orders are ratified at the next in-person meeting. The Board determined that reliance on the Orders was necessary or appropriate due to the circumstances related to current or potential effects of COVID-19 and therefore, the June meeting was held telephonically in reliance on the Orders.

SunAmerica Senior Floating Rate Fund, Inc.

APPROVAL OF THE INVESTMENT ADVISORY AND MANAGEMENT AGREEMENT AND

SUBADVISORY AGREEMENT — June 30,2021 — (continued)

Additionally, the Board observed that SunAmerica performs or supervises the performance by others of other administrative services in connection with the operation of the Fund pursuant to the Administrative Services Agreement between SunAmerica and the Fund (the “Administrative Services Agreement”).

In connection with the services provided by SunAmerica, the Board analyzed the structure and duties of SunAmerica’s fund administration, accounting, operations, legal and compliance departments and concluded that they were adequate to meet the needs of the Fund. The Board also reviewed the personnel responsible for providing advisory services to the Fund and other key personnel of SunAmerica in addition to current and projected staffing levels and compensation practices. The Board concluded, based on its experience and interaction with SunAmerica, that: (i) SunAmerica would continue to be able to retain quality investment and other personnel; (ii) SunAmerica has exhibited a high level of diligence and attention to detail in carrying out its advisory and other responsibilities under the Advisory Agreement; (iii) SunAmerica has been responsive to requests of the Board; and (iv) SunAmerica has kept the Board apprised of developments relating to the Fund and the industry in general. The Board concluded that the nature and extent of services provided under the Advisory Agreement were reasonable and appropriate in relation to the management fees and that the quality of services continues to be high. The Board also noted the high quality of services under the Administrative Services Agreement.

The Board also considered SunAmerica’s reputation and relationship with the Fund and considered the benefit to shareholders of investing in funds that are part of a family of funds offering a variety of types of mutual funds and shareholder services. The Board considered SunAmerica’s experience in providing management and investment advisory and administrative services to advisory clients and noted that as of March 31, 2021, SunAmerica managed, advised and/or administered approximately $91.6 billion in assets. In addition, the Board considered SunAmerica’s code of ethics and its commitment to compliance generally and with respect to its management and administration of the Fund. The Board also considered SunAmerica’s risk management processes. The Board also considered the performance of certain portions of the business continuity plan which have been invoked in response to the COVID-19 pandemic. The Board further observed that SunAmerica has developed internal procedures for monitoring compliance with the investment objective, policies and restrictions of the Fund as set forth in the Fund’s prospectus. The Board also reviewed SunAmerica’s compliance and regulatory history and noted that there were no material legal, regulatory or compliance issues that would potentially impact SunAmerica in effectively serving as the investment adviser to the Fund.

The Board also considered the nature, extent and quality of services provided by Wellington. The Board observed that Wellington is responsible for providing day-to-day investment management services, including investment research, advice and supervision, and determining which securities will be purchased or sold by the Fund, or portion thereof, that Wellington manages, subject to the oversight and review of SunAmerica. The Board reviewed Wellington’s history, structure, size, visibility and resources, which are needed to attract and retain highly qualified investment professionals. The Board reviewed the personnel who are responsible for providing subadvisory services to the Fund, and other key personnel of Wellington, in addition to current and projected staffing levels and compensation practices, and concluded, based on its experience with Wellington, that Wellington: (i) has been able to retain high quality portfolio managers and other investment personnel; (ii) has exhibited a high level of diligence and attention to detail in carrying out its responsibilities under the Subadvisory Agreement; and (iii) has been responsive to requests of the Board and of SunAmerica. In addition, the Board considered Wellington’s code of ethics and risk management process. The Board further observed that Wellington has developed internal policies and procedures for monitoring compliance with the investment objective, policies and restrictions of the Fund as set forth in the Fund’s prospectus. The Board also reviewed Wellington’s compliance and regulatory history and noted that there were no material legal, regulatory or compliance issues that would potentially impact Wellington from effectively serving as a subadviser to the Fund. The Board concluded that the nature and extent of services provided by Wellington under the Subadvisory Agreement were reasonable and appropriate in relation to the subadvisory fees and that the quality of services continues to be high.

Investment Performance. The Board, including the Independent Directors, also considered the investment performance of SunAmerica and Wellington with respect to the Fund. In connection with its review, the Board received and reviewed information regarding the investment performance of the Fund as compared to the Fund’s peer group (“Peer Group”) and peer universe (“Peer Universe”) as independently determined by Broadridge and to an appropriate index or combination of indices, including the Fund’s benchmarks. The Board was provided with a description of the methodology used by Broadridge to select the funds in the Peer Group and Peer Universe.

SunAmerica Senior Floating Rate Fund, Inc.

APPROVAL OF THE INVESTMENT ADVISORY AND MANAGEMENT AGREEMENT AND

SUBADVISORY AGREEMENT — June 30,2021 — (continued)

The Board noted that performance information was for the period ended March 31, 2021. The Board also noted that it regularly reviews the performance of the Fund throughout the year. The Board further noted that, while it monitors performance of the Fund closely, it generally attaches more importance to performance over relatively long periods of time, typically three to five years. The Board noted that while it found the data provided by Broadridge generally useful, it recognized its limitations, including in particular that the data may vary depending on the end date selected and that the results of performance comparisons may vary depending on the selection of the peer group.

The Board considered that the Fund’s performance was below the medians of its Peer Group and Peer Universe for the one-, three- and ten-year periods and above the medians for the 5-year period. The Board further noted that the Fund underperformed its Broadridge Index for the one-, three- and ten-year periods, and outperformed its Broadridge Index for the 5-year period. The Board concluded that the Fund’s performance was satisfactory in light of all factors considered. The Board also noted management’s plan to reorganize the Fund into another fund.

Consideration of the Management Fees and the Cost of the Services and Profits to be Realized by SunAmerica, Wellington and their Affiliates from the Relationship with the Fund. The Board, including the Independent Directors, received and reviewed information regarding the fees paid by the Fund to SunAmerica pursuant to the Advisory Agreement and the fees paid by SunAmerica to Wellington pursuant to the Subadvisory Agreement. The Board examined this information in order to determine the reasonableness of the fees in light of the nature and quality of services to be provided and any potential additional benefits to be received by SunAmerica, Wellington or their affiliates in connection with providing such services to the Fund.

To assist in analyzing the reasonableness of the management fees for the Fund, the Board received reports independently prepared by Broadridge. The reports showed comparative fee information for the Fund’s Peer Group and Peer Universe as determined by Broadridge, including rankings within each category. In considering the reasonableness of the management fees to be paid by the Fund to SunAmerica, the Board reviewed a number of expense comparisons, including: (i) contractual and actual management fees; and (ii) actual total operating expenses. In considering the Fund’s total operating expenses, the Board analyzed the level of fee waivers and expense reimbursements and the net expense caps contractually agreed upon by SunAmerica. The Board further considered that, unlike the funds in the Peer Group and Peer Universe, the fee waivers and/or reimbursements being made by SunAmerica with respect to the Funds are only reflected in the total expenses category of the Broadridge reports, rather than also being reflected as specific management fee waivers in the actual management fees category of the Broadridge reports. As a result, the Board took into account that the actual management fees presented by Broadridge for the funds in the Peer Group and Peer Universe may appear lower on a relative basis. The Board also considered the various expense components of the Fund and compared the Fund’s net expense ratio to those of other funds within its Peer Group and Peer Universe as a guide to help assess the reasonableness of the management fee for the Fund. The Board acknowledged that it was difficult to make precise comparisons with other funds in the Peer Group and Peer Universe since the exact nature of services provided under the various fund agreements is often not apparent. The Board noted, however, that the comparative fee information provided by Broadridge as a whole was useful in assessing whether SunAmerica was providing services at a cost that was competitive with other, similar funds.

The Board further considered management fees received by SunAmerica with respect to other mutual funds with similar investment strategies to the Fund. The Board then noted the management fee paid by the Fund was reasonable as compared to the fees SunAmerica was receiving from other mutual funds for which it serves as adviser.

The Board also received and reviewed information regarding the fees paid by SunAmerica to Wellington pursuant to the Subadvisory Agreement. To assist in analyzing the reasonableness of the subadvisory fee, the Board received a report independently prepared by Broadridge. The report showed comparative fee information of the Fund’s Peer Group and/or Peer Universe that the Directors used as a guide to help assess the reasonableness of the subadvisory fee. The Directors noted that the Peer Group/Universe information as a whole was useful in assessing whether Wellington was providing services at a cost that was competitive with other, similar funds. The Directors also considered that the subadvisory fee is paid by SunAmerica out of its management fees and not by the Fund, and that subadvisory fees may vary widely within a Peer Group for various reasons, including market pricing demands, existing relationships, experience and success, and

SunAmerica Senior Floating Rate Fund, Inc.

APPROVAL OF THE INVESTMENT ADVISORY AND MANAGEMENT AGREEMENT AND

SUBADVISORY AGREEMENT — June 30,2021 — (continued)

individual client needs. The Board further considered the amount of subadvisory fee paid out by SunAmerica and the amount of the management fees which it retained and determined that these amounts were reasonable in light of the services performed by SunAmerica and Wellington, respectively.

The Board also considered Wellington’s standard institutional fee schedule used for accounts with similar investment strategies to the Fund. The Board then noted that the subadvisory fee paid by SunAmerica to Wellington was reasonable as compared to Wellington’s standard institutional fee schedule.

The Board considered that the Fund’s actual management fees were above the medians of its Peer Group and Peer Universe. The Board also considered that the Fund’s total expenses were equal to the median of its Peer Group and above the median of its Peer Universe. The Board noted that the Fund’s advisory fee contains breakpoints and further noted management’s discussions regarding the Fund’s expenses. The Board also took into account previous actions to reduce Fund expenses through management fee waivers and expense limitations.

Profitability. The Board also considered SunAmerica’s profitability and the benefits SunAmerica and its affiliates received from their relationship with the Fund. The Board received and reviewed financial statements relating to SunAmerica’s financial condition and profitability with respect to the services it provided the Fund and considered how profit margins could affect SunAmerica’s ability to attract and retain high quality investment professionals and other key personnel. The Board was also provided with a profitability analysis that detailed the revenues earned and the expenses incurred by SunAmerica and its affiliates that provide services to the Fund, as well as an Investment Management Profitability Analysis prepared by an independent information service, Broadridge. In particular, the Board considered the contractual fee waivers and/or expense reimbursements agreed to by SunAmerica.

The Board considered the profitability of SunAmerica under the Advisory Agreement, including the amount of management fees retained after payment to Wellington, as well as the profitability of SunAmerica under the Administrative Services Agreement, and considered the profitability of SunAmerica’s affiliates under the Rule 12b-1 Plans, Service Agreement and Administrative and Shareholder Services Agreement. Additionally, the Board considered whether SunAmerica, Wellington and their affiliates received any indirect benefits from the relationship with the Fund. Specifically, the Board observed that AIG Federal Savings Bank, an affiliate of SunAmerica, serves as custodian with respect to certain shareholder retirement accounts that are administered by SunAmerica and receives a fee payable by the qualifying shareholders. The Board further considered whether there were any collateral or “fall-out” benefits that SunAmerica and its affiliates may derive as a result of their relationship with the Fund. The Board noted that SunAmerica believes that any such benefits are de minimis and do not impact the reasonableness of the management fees.

The Board also reviewed financial statements and/or other information from Wellington and considered whether Wellington had the financial resources necessary to attract and retain high quality investment management personnel and to provide a high quality of services.

The Board concluded that SunAmerica and Wellington had the financial resources necessary to perform their obligations under the Agreements and to continue to provide the Fund with the high quality services that they had provided in the past. The Board further concluded that the management fees were reasonable in light of the factors discussed above.

Economies of Scale. The Board, including the Independent Directors, considered whether the shareholders would benefit from economies of scale and whether there was potential for future realization of economies with respect to the Fund. The Board considered that as a result of being part of the AIG fund complex, the Fund shares common resources and may share certain expenses, and if the size of the complex increases, the Fund could incur lower expenses than it otherwise would achieve as a stand-alone entity. The Board also took into account that the Fund had a management fee arrangement that included breakpoints that will adjust the fee downward as the size of the Fund increases, thereby allowing the shareholders to potentially participate in any economies of scale. The Board further noted that SunAmerica has agreed to contractually cap the total annual operating expenses of the Fund at certain levels. The Board observed that those expense caps benefited shareholders by limiting total fees even in the absence of breakpoints. The Board concluded that the Fund’s management fee structure was reasonable and that it would continue to review fees in connection with the renewal of the Advisory Agreement, including whether the implementation of additional breakpoints would be appropriate in the future due to an increase in asset size or otherwise.

SunAmerica Senior Floating Rate Fund, Inc.

APPROVAL OF THE INVESTMENT ADVISORY AND MANAGEMENT AGREEMENT AND

SUBADVISORY AGREEMENT — June 30,2021 — (continued)

The Board noted that the Subadvisory Agreement included breakpoints, but did not review specific information regarding whether there have been economies of scale with respect to Wellington’s management of the Fund because it regards that information as less relevant at the subadviser level since SunAmerica, and not the Funds, is responsible for paying the subadvisory fees. Rather, the Board considered information regarding economies of scale in the context of the renewal of the Advisory Agreement and concluded that the management fee structure, including the amount of management fee retained by SunAmerica, was reasonable in light of the factors described above.

Other Factors. In consideration of the Agreements, the Board also received information regarding SunAmerica’s and Wellington’s brokerage and soft dollar practices. The Board considered that Wellington is responsible for decisions to buy and sell securities for the Fund, selection of broker-dealers and negotiation of commission rates, as applicable. The Board also considered that the Fund invests primarily in senior secured floating rate loans and, therefore, the Fund generally does not incur significant brokerage commissions.

Conclusion. After a full and complete discussion, the Board approved the Agreements, each for a one-year period ending June 30, 2022. Based upon its evaluation of all these factors in their totality, the Board, including the Independent Directors, was satisfied that the terms of the Agreements were fair and reasonable and in the best interests of the Fund and the Fund’s shareholders. In arriving at a decision to approve the Agreements, the Board did not identify any single factor or group of factors as all-important or controlling, but considered all factors together, and each Independent Director may have attributed different weights to different factors. The Independent Directors were also assisted by the advice of independent legal counsel in making this determination.

SunAmerica Senior Floating Rate Fund, Inc.

PROXY VOTING RESULTS — SPECIAL MEETING OF THE SHAREHOLDERS (unaudited)

RESULTS OF SPECIAL SHAREHOLDER MEETING

On June 10, 2021, a Special Meeting of Shareholders of AIG Senior Floating Rate Fund (the “Target Fund”) was held to consider a proposal to approve an Agreement and Plan of Reorganization (the “Reorganization Agreement”) relating to the Target Fund. Pursuant to the Reorganization Agreement, the Target Fund would transfer all of its assets to the Touchstone Credit Opportunities Fund, a series of Touchstone Funds Group Trust (the “Acquiring Fund”), in exchange for the assumption by the Acquiring Fund of all of the liabilities of the Target Fund and shares of the Acquiring Fund, which shares will be distributed by the Target Fund to the holders of its shares in complete liquidation thereof. The proposal was approved and voting results of this Special Meeting were as follows:

For: 8,850,527

Against: 643,356

Abstain: 518,554

Harborside 5

185 Hudson Street, Suite 3300

Jersey City, NJ 07311

Directors

Dr. Judith L. Craven

Richard W. Grant

Stephen J. Gutman

Peter A. Harbeck

Eileen A. Kamerick

Officers

John T. Genoy, President and Chief Executive Officer

James Nichols, Vice President

Sharon French, Executive Vice President

Timothy Pettee, Vice President

Christopher C. Joe, Chief Compliance Officer

Gregory N. Bressler, Secretary

Gregory R. Kingston, Treasurer

Kathleen Fuentes, Chief Legal Officer
and Assistant Secretary

Matthew J. Hackethal, Anti-Money Laundering Compliance Officer

Donna McManus, Vice President and Assistant Treasurer

Shawn Parry, Vice President and Assistant Treasurer

Investment Adviser

SunAmerica Asset Management, LLC

Harborside 5

185 Hudson Street, Suite 3300

Jersey City, NJ 07311

Distributor

AIG Capital Services, Inc.

Harborside 5

185 Hudson Street, Suite 3300

Jersey City, NJ 07311

Shareholder Servicing Agent

AIG Fund Services, Inc.

Harborside 5

185 Hudson Street, Suite 3300

Jersey City, NJ 07311

Transfer Agent

DST Asset Manager Solutions, Inc.

303 W 11th Street

Kansas City, MO 64105

Custodian

State Street Bank and Trust Company

One Lincoln St.

Boston, MA 02111

VOTING PROXIES ON FUND PORTFOLIO SECURITIES

A description of the policies and procedures that the Fund uses to determine how to vote proxies related to securities held in the Fund’s portfolio, which is available in the Fund’s Statement of Additional Information may be obtained without charge upon request, by calling (800) 858-8850. This information is also available from the EDGAR database on the U.S. Securities and Exchange Commission’s website at http://www.sec.gov.

DELIVERY OF SHAREHOLDER DOCUMENTS

The Fund has adopted a policy that allows it to send only one copy of the Fund’s prospectus, proxy material, annual report and semi-annual report (the “shareholder documents”) to shareholders with multiple accounts residing at the same “household.” This practice is called householding and reduces Fund expenses, which benefits you and other shareholders. Unless the Fund receives instructions to the contrary, you will only receive one copy of the shareholder documents. The Fund will continue to household the shareholder documents indefinitely, until we are instructed otherwise. If you do not wish to participate in householding, please contact Shareholder Services at (800) 858-8850 ext. 6010 or send a written request with your name, the name of your fund(s) and your account number(s) to AIG Funds, P.O. Box 219186, Kansas City MO, 64121-9186. We will resume individual mailings for your account within thirty (30) days of receipt of your request.

DISCLOSURE OF QUARTERLY PORTFOLIO HOLDINGS

The Fund is required to file its complete schedule of portfolio holdings with the U.S. Securities and Exchange Commission for the first and third quarters of each fiscal year on Form N-PORT. The Fund’s Form N-PORT is available on the U.S. Securities and Exchange Commission’s website at http://www.sec.gov.

PROXY VOTING RECORD ON FUND PORTFOLIO SECURITIES

Information regarding how the Fund voted proxies relating to securities held in the Fund’s portfolio during the most recent twelve month period ended June 30 is available, once filed with the U.S. Securities and Exchange Commission, without charge, upon request, by calling (800) 858-8850 or on the U.S. Securities and Exchange Commission’s website at http://www.sec.gov.

This report is submitted solely for the general information of shareholders of the Fund. Distribution of this report to persons other than shareholders of the Fund is authorized only in connection with a currently effective prospectus, setting forth details of the Fund, which must precede or accompany this report.

The accompanying report has not been audited by independent accountants and accordingly no opinion has been expressed thereon.

AIG

Harborside 5, 185 Hudson Street, Suite 3300

Jersey City, NJ 07311

For information on receiving this report online, see inside back cover.

AIG Funds are advised by SunAmerica Asset Management, LLC (SAAMCo) and distributed by AIG Capital Services, Inc. (ACS), Member FINRA. Harborside 5, 185 Hudson Street, Suite 3300, Jersey City, NJ 07311, 800-858-8850. SAAMCo and ACS are members of American International Group, Inc. (AIG).

This fund report must be preceded by or accompanied by a prospectus.

Investors should carefully consider a Fund’s investment objectives, risks, charges and expenses before investing. The prospectus, containing this and other important information, can be obtained from your financial adviser, the AIG Funds Sales Desk at 800-858-8850, ext. 6003, or at aig.com/funds. Read the prospectus carefully before investing.

LOGO

aig.com/funds

SFSAN - 6/21

Item 2.

Code of Ethics

Not applicable.

Item 3.

Audit Committee Financial Expert.

Not applicable.

Item 4.

Principal Accountant Fees and Services.

Not applicable.

Item 5.

Audit Committee of Listed Registrants.

Not applicable.

Item 6.

Investments.

Included in Item 1 to the Form.

Item 7.

Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

Item 8.

Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

Item 9.

Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

Item 10.

Submission of Matters to a Vote of Security Holders.

There were no material changes to the procedures by which shareholders may recommend nominees to the registrant’s Board of Directors that were implemented after the registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K (17 CFR 229.407) (as required by 22(b)(15)) of Schedule 14A (17 CFR 240.14a-101)), or this Item 10.

Item 11.

Controls and Procedures.

(a)

An evaluation was performed within 90 days of the filing of this report, under the supervision and with the participation of the registrant’s management, including the President and Treasurer, of the effectiveness of the design and operation of the registrant’s disclosure controls and procedures (as defined under Rule 30a-3(c) under the Investment Company Act of 1940 (17 CFR 270.30a-3(c))). Based on that evaluation, the registrant’s management, including the President and Treasurer, concluded that the registrant’s disclosure controls and procedures are effective.

(b)

There was no change in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940 (17 CFR 270.30a-3(d))) that occurred during the most recent fiscal half year that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 12.

Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable.

Item 13.

Exhibits.

(a)

(1) Not applicable.

(2) Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) attached hereto as Exhibit 99.CERT.

(3) Not applicable.

(4) Not applicable.

(b)

Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) and Section 906 of the Sarbanes- Oxley Act of 2002 attached hereto as Exhibit 99.906.CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SunAmerica Senior Floating Rate Fund, Inc.


By:		/s/ *John T. Genoy*
		John T. Genoy
		President

Date: September 8, 2021

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.


By:		/s/ *John T. Genoy*
		John T. Genoy
		President

Date: September 8, 2021

By:		/s/ *Gregory R. Kingston*
		Gregory R. Kingston
		Treasurer

Date: September 8, 2021

Dates Referenced Herein and Documents Incorporated by Reference

This ‘N-CSRS’ Filing	Date	Other Filings

	6/30/23
	12/31/22
	9/8/22
	6/30/22
Filed on / Effective on:	9/8/21
	7/16/21	24F-2NT, N-PX
For Period end:	6/30/21	N-PX, NPORT-P
	6/10/21
	5/18/21
	3/31/21	NPORT-P
	3/8/21
	3/5/21
	2/8/21	497, 497K, DEFA14A
	1/1/21
	12/31/20	24F-2NT, N-CEN, N-CSR, NPORT-P
	12/3/20
	9/30/20	NPORT-P
	6/19/20
	3/25/20
	3/12/20
	12/31/19	24F-2NT, N-CEN, N-CSR, NPORT-P
	7/27/17
		List all Filings

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Filing Submission 0001193125-21-267749 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Sunamerica Senior Floating Rate Fund Inc. – ‘N-CSRS’ for 6/30/21

On: Wednesday, 9/8/21, at 2:59pm ET · Effective: 9/8/21 · For: 6/30/21 · Accession #: 1193125-21-267749 · File #: 811-08727

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