# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001004726-25-002235
**Filing Date:** 2025-11
**Character Count:** 72144
**Document Hash:** a74741705b863a7bab52c6cdecfc2788
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001004726-25-002235.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0001004726-25-002235

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251125

**DATE AS OF CHANGE**: 20251125

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VICTORY PORTFOLIOS
- **CENTRAL INDEX KEY:** 0000802716

**ORGANIZATION NAME:**
- **EIN:** 316364605
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04852
- **FILM NUMBER:** 251520320

**BUSINESS ADDRESS:**
- **STREET 1:** 4900 TIEDEMAN ROAD
- **CITY:** BROOKLYN
- **STATE:** OH
- **ZIP:** 44144
- **BUSINESS PHONE:** 6144708000

**MAIL ADDRESS:**
- **STREET 1:** 4900 TIEDEMAN ROAD
- **CITY:** BROOKLYN
- **STATE:** OH
- **ZIP:** 44144

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SOCIETY FUNDS
- **DATE OF NAME CHANGE:** 19940906

## Series and Classes Contracts Data

### Victory Floating Rate Fund (Series ID: S000053575)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000168384 | Class A      | RSFLX           |
| C000168385 | Class C      | RSFCX           |
| C000168387 | Class Y      | RSFYX           |
| C000219868 | Member Class | RSFMX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Victory Portfolios

- **b. Investment Company Act file number:** 811-04852

- **c. CIK number of Registrant:** 0000802716

- **d. LEI of Registrant:** 549300V07N3HJP1EW330

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 15935 La Cantera Parkway Building Two

  - **City:** San Antonio

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 78256

  - **Telephone number:** 800-539-3863

**Item A.2. Information about the Series.**

- **a. Name of Series:** Victory Floating Rate Fund

- **b. EDGAR series identifier (if any):** S000053575

- **c. LEI of Series:** 5493006V5CZZVATH3R53

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $403793472.48

**Total Liabilities:** $19141643.55

**Net Assets:** $384651828.93

**Cash Not Reported:** $14270409.12

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -2.98593266 | **1-Year:** -114.45218739 | **5-Year:** -114.45218739 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -55.13575283 | **1-Year:** -29229.62110380 | **5-Year:** -33299.17519425 | **10-Year:** -1132.97991740 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000168384 | 1.38%                | -0.56%               | 0.80%                |
| Class ID C000168385 | 1.43%                | -0.64%               | 0.73%                |
| Class ID C000219868 | 1.52%                | -0.54%               | 0.81%                |
| Class ID C000168387 | 1.52%                | -0.53%               | 0.69%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $107332.36               | $2939339.06                                |
| Month 2  | $332618.55               | $-5162798.19                               |
| Month 3  | $-466638.34              | $728819.84                                 |

**Designated Index Information**

- **Index Name:** Securities Portfolio

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                         | Title                                        | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| FLEET MIDCO I LIMITED                        | FLEET US BIDCO INC                           | CUSIP: 33902UAD5<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |   2721931 | PA      | $2721931.25   | 0.71%             | 2031-02-10      | Floating      | 6.54%                 | No            |                  2 | On Loan: No      |
| DOTDASH MEREDITH INC                         | DOTDASH MEREDITH INC                         | CUSIP: 25849KAH0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    720000 | PA      | $717602.40    | 0.19%             | 2032-06-07      | Floating      | 7.63%                 | No            |                  2 | On Loan: No      |
| CHARIOT BUYER LLC                            | CHARIOT BUYER LLC                            | CUSIP: 15963CAE6<br>LEI: 25490092IFNOZBRVE539 | Long             | LON              | CORP              | US        |   3764336 | PA      | $3765916.97   | 0.98%             | 2032-09-08      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| LACKAWANNA ENERGY CENTER LLC                 | LACKAWANNA ENERGY CENTER LLC                 | CUSIP: 50550EAF5<br>LEI: 549300IW2LJBNY42EC59 | Long             | LON              | CORP              | US        |    686179 | PA      | $691153.80    | 0.18%             | 2032-08-05      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| HANESBRANDS INC.                             | HANESBRANDS INC                              | CUSIP: 410346AY6<br>LEI: GX5LWVWZLL5S4W1L2F20 | Long             | LON              | CORP              | US        |   1358715 | PA      | $1362111.30   | 0.35%             | 2032-03-08      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| RISING TIDE HOLDINGS INC                     | RISING TIDE HOLDINGS INC                     | CUSIP: 76770EAV9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3841303 | PA      | $2266369.04   | 0.59%             | 2028-06-13      | Floating      | 12.00%                | No            |                  2 | On Loan: No      |
| AIP RD BUYER CORP.                           | AIP RD BUYER CORP                            | CUSIP: 00149HAC8<br>LEI: 5493000EBDLH9PYWBS30 | Long             | LON              | CORP              | US        |    498744 | PA      | $499521.76    | 0.13%             | 2030-12-23      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| COVIS FINCO SARL                             | COVIS FINCO SARL                             | CUSIP: L3680LAH4<br>LEI: N/A                  | Long             | LON              | CORP              | LU        |   8796866 | PA      | $351874.65    | 0.09%             | 2027-02-18      | Floating      | 10.98%                | No            |                  3 | On Loan: No      |
| PRECISELY SOFTWARE INCORPORATED              | VISION SOLUTIONS INC                         | CUSIP: 70477BAE2<br>LEI: 549300OIJDT3E3PZRC97 | Long             | LON              | CORP              | US        |   2000000 | PA      | $1925000.00   | 0.50%             | 2028-04-24      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GROUP, INC.                   | PICARD MIDCO INC                             | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1514286.30   | 0.39%             | 2029-03-31      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| CIFC FUNDING LTD                             | CIFC FUNDING 2020 IV LTD                     | CUSIP: 12562RAS4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1375000 | PA      | $1373212.50   | 0.36%             | 2040-01-15      | Floating      | 7.12%                 | Yes           |                  2 | On Loan: No      |
| AADVANTAGE LOYALTY IP LTD                    | AADVANTAGE LOYALTY IP LTD                    | CUSIP: 02376CBS3<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |   3283801 | PA      | $3276970.34   | 0.85%             | 2028-04-20      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| FORTRESS INTERMEDIATE 3, INC.                | FORTRESS INTERMEDIATE 3                      | CUSIP: 34966LAD6<br>LEI: 254900NLAZ3JQJW5JP75 | Long             | LON              | CORP              | US        |    412666 | PA      | $413697.67    | 0.11%             | 2031-06-27      | Floating      | 7.11%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA BRISTOL LLC                     | VIRGIN MEDIA BRISTOL LLC                     | CUSIP: G9368PBH6<br>LEI: 213800IQ982XX69LE276 | Long             | LON              | CORP              | US        |   4250000 | PA      | $4186675.00   | 1.09%             | 2031-03-31      | Floating      | 7.37%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS HOLDINGS, LLC        | FRONTIER COMMUNICATIONS HOLDINGS LLC         | CUSIP: 35906EAU4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3283521 | PA      | $3278037.14   | 0.85%             | 2031-07-01      | Floating      | 6.65%                 | No            |                  2 | On Loan: No      |
| HILTON GRAND VACATIONS BORROWER LLC          | HILTON GRAND VACATIONS BORROWER LLC          | CUSIP: 43283LAK7<br>LEI: 254900HF0EZ734FDVY79 | Long             | LON              | CORP              | US        |   1447594 | PA      | $1445336.21   | 0.38%             | 2031-01-17      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| DELEK US HOLDINGS, INC.                      | DELEK US HOLDINGS INC                        | CUSIP: 24664GAF8<br>LEI: 5493003O53JMENV1N385 | Long             | LON              | CORP              | US        |   3816064 | PA      | $3804921.25   | 0.99%             | 2029-11-19      | Floating      | 7.76%                 | No            |                  2 | On Loan: No      |
| INEOS US FINANCE LLC                         | INEOS US FINANCE LLC                         | CUSIP: G4768PAN1<br>LEI: 5493008MHJ4R367SNK31 | Long             | LON              | CORP              | US        |   3885645 | PA      | $3506794.65   | 0.91%             | 2030-02-16      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES, INC.                        | SKYMILES IP LTD                              | CUSIP: 24736CBS2<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | LON              | CORP              | KY        |   3070771 | PA      | $3071170.67   | 0.80%             | 2027-10-20      | Floating      | 8.08%                 | No            |                  2 | On Loan: No      |
| VOYAGER PARENT, LLC                          | VOYAGER PARENT LLC                           | CUSIP: 92921HAC9<br>LEI: 2549002DYVI4ACSV4V71 | Long             | LON              | CORP              | US        |   1000000 | PA      | $1001370.00   | 0.26%             | 2032-05-09      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| FLUTTER ENTERTAINMENT PUBLIC LIMITED COMPANY | FLUTTER ENTERTAINMENT                        | CUSIP: N3313EAG5<br>LEI: 635400EG4YIJLJMZJ782 | Long             | LON              | CORP              | IE        |   4925000 | PA      | $4904068.75   | 1.27%             | 2030-11-30      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| TRONOX INCORPORATED                          | TRONOX INC                                   | CUSIP: 897051AC2<br>LEI: 549300EPZ4YXC7E5P181 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $979262.52    | 0.25%             | 2029-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| MARRIOTT OWNERSHIP RESORTS INC               | MARRIOTT OWNERSHIP RESORTS INC               | CUSIP: 57163KAJ7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4950000 | PA      | $4946931.00   | 1.29%             | 2031-04-01      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| CIMPRESS PLC                                 | CIMPRESS PLC                                 | CUSIP: N2014AAH5<br>LEI: N/A                  | Long             | LON              | CORP              | IE        |   1000000 | PA      | $1001250.00   | 0.26%             | 2028-05-17      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| U.S. ACUTE CARE SOLUTIONS, LLC               | US ACUTE CARE SOLUTIONS LLC                  | CUSIP: 90367UAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1140000 | PA      | $1167405.95   | 0.30%             | 2029-05-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| LBM ACQUISITION, LLC                         | LBM ACQUISITION LLC                          | CUSIP: 50179JAK4<br>LEI: 549300FAEB3VWZL4NI86 | Long             | LON              | CORP              | US        |   1220000 | PA      | $1214119.60   | 0.32%             | 2031-06-06      | Floating      | 9.14%                 | No            |                  2 | On Loan: No      |
| CUMULUS MEDIA NEW HOLDINGS INC.              | CUMULUS MEDIA NEW HOLDINGS INC               | CUSIP: 23110AAB2<br>LEI: 5493001D9VBAVY1OKJ46 | Long             | DBT              | CORP              | US        |   2315000 | PA      | $587611.74    | 0.15%             | 2029-07-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| PROJECT ALPHA INTERMEDIATE HOLDING, INC.     | PROJECT ALPHA INTERMEDIATE HOLDING INC       | CUSIP: 74339DAN8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    997487 | PA      | $999751.74    | 0.26%             | 2030-10-28      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| LSF12 BADGER BIDCO, LLC                      | LSF12 BADGER BIDCO LLC                       | CUSIP: 50221PAB8<br>LEI: 254900AQINKZO1M1LS24 | Long             | LON              | CORP              | US        |   2952298 | PA      | $2944917.71   | 0.77%             | 2030-07-10      | Floating      | 9.66%                 | No            |                  2 | On Loan: No      |
| BW NHHC HOLDCO INC.                          | BW NHHC HOLDCO INC                           | CUSIP: 05606CAB6<br>LEI: 549300Y5ZHAEE7MHCH51 | Long             | LON              | CORP              | US        |   3000000 | PA      | $312510.00    | 0.08%             | 2026-05-15      | Floating      | 13.20%                | No            |                  2 | On Loan: No      |
| OLYMPUS WATER US HOLDING CORPORATION         | SOLENIS                                      | CUSIP: 68163YAK1<br>LEI: 549300YU2GGVCBN3MY89 | Long             | LON              | CORP              | US        |    500000 | PA      | $495895.00    | 0.13%             | 2032-07-22      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| EQUIPMENTSHARE.COM INC                       | EQUIPMENTSHARE COM INC                       | CUSIP: 29450YAC3<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |   1455000 | PA      | $1554035.13   | 0.40%             | 2033-03-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| WINDSTREAM SERVICES, LLC                     | WINDSTREAM ESCROW LLC                        | CUSIP: 97381AAA0<br>LEI: 549300KT9GVEBYCD2N29 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1762348.17   | 0.46%             | 2031-10-01      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| SGH2 LLC                                     | SGH2 LLC                                     | CUSIP: 78424SAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1450000 | PA      | $1450000.00   | 0.38%             | 2032-08-18      | Floating      | 8.51%                 | No            |                  2 | On Loan: No      |
| ASURION, LLC                                 | ASURION LLC                                  | CUSIP: 04649VBE9<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |   1000000 | PA      | $992920.00    | 0.26%             | 2030-09-19      | Floating      | 8.41%                 | No            |                  2 | On Loan: No      |
| ACRISURE, LLC                                | ACRISURE LLC                                 | CUSIP: 00488PAX3<br>LEI: 549300R0Z1Q47XRTGO22 | Long             | LON              | CORP              | US        |   1290000 | PA      | $1287316.80   | 0.33%             | 2032-06-07      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| CENGAGE LEARNING, INC.                       | CENGAGE LEARNING INC                         | CUSIP: 15131YAQ8<br>LEI: 549300BYGM0FWUSVXJ88 | Long             | LON              | CORP              | US        |   3950150 | PA      | $3937391.02   | 1.02%             | 2031-03-24      | Floating      | 7.70%                 | No            |                  2 | On Loan: No      |
| SPDR Blackstone Senior Loan ETF              | SPDR BLACKSTONE SENIOR LOAN ETF              | CUSIP: 78467V608<br>LEI: N/A                  | Long             |  | RF                | US        |    200000 | NS      | $8316000.00   | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTJET LOYALTY LP                           | WESTJET LOYALTY LP                           | CUSIP: C9763HAB3<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |   4937500 | PA      | $4940166.25   | 1.28%             | 2031-02-14      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| LIFESCAN GLOBAL CORPORATION                  | LIFESCAN GLOBAL CORP                         | CUSIP: 53227PAR1<br>LEI: 549300VL0F83S4LR4105 | Long             | LON              | CORP              | US        |   3750000 | PA      | $1737487.50   | 0.45%             | 2027-12-31      | Floating      | 13.80%                | No            |                  2 | On Loan: No      |
| RISING TIDE HOLDINGS                         | RISING TIDE HOLDINGS                         | CUSIP: 76770EAU1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1464141 | PA      | $1448780.29   | 0.38%             | 2028-06-13      | Floating      | 15.00%                | No            |                  2 | On Loan: No      |
| INNIO Group Holding GmbH                     | INNIO NORTH AMERICA HOLDING INC              | CUSIP: A2838LAG1<br>LEI: 549300KQQI7KQCL6ZI60 | Long             | LON              | CORP              | AT        |   3619917 | PA      | $3615392.36   | 0.94%             | 2028-11-06      | Floating      | 6.39%                 | No            |                  2 | On Loan: No      |
| MAGNETITE CLO, LIMITED                       | MAGNETITE CLO LTD                            | CUSIP: 559923AG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $996600.00    | 0.26%             | 2037-01-25      | Floating      | 9.57%                 | Yes           |                  2 | On Loan: No      |
| RISING TIDE HOLDINGS INC                     | RISING TIDE HOLDINGS INC                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    241726 | NS      | $24172.60     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| MAGNETITE CLO, LIMITED                       | MAGNETITE CLO LTD                            | CUSIP: 55953UAW4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1375000 | PA      | $1382502.00   | 0.36%             | 2037-10-25      | Floating      | 8.32%                 | Yes           |                  2 | On Loan: No      |
| OSMOSIS BUYER LIMITED                        | AI AQUA MERGER SUB INC                       | CUSIP: 00132UAP9<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |    996111 | PA      | $997894.50    | 0.26%             | 2028-07-31      | Floating      | 7.13%                 | No            |                  2 | On Loan: No      |
| IHEARTCOMMUNICATIONS, INC.                   | IHEARTCOMMUNICATIONS INC                     | CUSIP: 45174UAJ7<br>LEI: 54930076J6KDZL504O62 | Long             | LON              | CORP              | US        |   1582058 | PA      | $1378858.64   | 0.36%             | 2029-05-01      | Floating      | 10.05%                | No            |                  2 | On Loan: No      |
| WIRECO WORLDGROUP INC.                       | WIRECO                                       | CUSIP: 97654QAK3<br>LEI: 5493008NQ1Q5T2GZOJ37 | Long             | LON              | CORP              | US        |   3738133 | PA      | $3649352.13   | 0.95%             | 2028-11-13      | Floating      | 8.08%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAINMENT, INC.                  | CAESARS ENTERTAINMENT INC                    | CUSIP: 12768EAG1<br>LEI: 549300FA4CTCW903Y781 | Long             | LON              | CORP              | US        |   4788852 | PA      | $4772617.50   | 1.24%             | 2030-02-06      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| HUDSON RIVER TRADING LLC                     | HUDSON RIVER TRADING LLC                     | CUSIP: 44413EAJ7<br>LEI: 549300SMOBUC8O5UOE10 | Long             | LON              | CORP              | US        |   1685000 | PA      | $1687443.25   | 0.44%             | 2030-03-18      | Floating      | 7.15%                 | No            |                  2 | On Loan: No      |
| Invesco Senior Loan ETF                      | INVESCO SENIOR LOAN ETF                      | CUSIP: 46138G508<br>LEI: N/A                  | Long             |  | RF                | US        |    400000 | NS      | $8372000.00   | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| SANDISK CORPORATION                          | SANDISK CORPORATION                          | CUSIP: 80004YAC7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1125000 | PA      | $1125708.75   | 0.29%             | 2031-12-13      | Floating      | 7.14%                 | No            |                  2 | On Loan: No      |
| GRAY TELEVISION INC                          | GRAY TELEVISION INC                          | CUSIP: 389376AZ7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2236333 | PA      | $2234700.00   | 0.58%             | 2028-12-01      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| PROOFPOINT, INC.                             | PROOFPOINT INC                               | CUSIP: 74345HAG6<br>LEI: 529900C5FODDK0WSR085 | Long             | LON              | CORP              | US        |   2216207 | PA      | $2221991.25   | 0.58%             | 2028-08-31      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION HOLDINGS, INC.        | CLYDESDALE ACQUISITION HOLDINGS LLC          | CUSIP: 18972FAC6<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |   2396975 | PA      | $2392924.33   | 0.62%             | 2029-04-13      | Floating      | 7.34%                 | No            |                  2 | On Loan: No      |
| CAMELOT U.S. ACQUISITION LLC                 | CAMELOT US ACQUISITION LLC                   | CUSIP: L2000AAG5<br>LEI: 549300U6VBJHQP2SFL81 | Long             | LON              | CORP              | US        |    892000 | PA      | $890046.52    | 0.23%             | 2031-01-31      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| HARSCO CORP                                  | HARSCO CORP                                  | CUSIP: 41587CAR9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3863355 | PA      | $3850489.67   | 1.00%             | 2028-03-10      | Floating      | 6.53%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY RESOURCES CORP.           | CENTERPOINT ENERGY RESOU                     | CUSIP: 15200KX14<br>LEI: 2JADVB0458J06WCD4N56 | Long             | STIV             | CORP              | US        |   2200000 | PA      | $2199744.14   | 0.57%             |  |  |  | Yes           |                  2 | On Loan: No      |
| NOVAE LLC                                    | NOVAE LLC IN                                 | CUSIP: 66988QAB5<br>LEI: 549300IO3D43N4TFUV08 | Long             | LON              | CORP              | US        |   1994845 | PA      | $1861450.05   | 0.48%             | 2028-12-22      | Floating      | 9.15%                 | No            |                  2 | On Loan: No      |
| AZZ INC.                                     | AZZ INC                                      | CUSIP: 00247NAG7<br>LEI: 549300HD1X2NFLWPYC83 | Long             | LON              | CORP              | US        |   1824077 | PA      | $1829402.85   | 0.48%             | 2029-05-13      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| NEPTUNE BIDCO US INC.                        | NEPTUNE BIDCO US INC                         | CUSIP: 64069JAC6<br>LEI: 549300VG15T3VCYZ4531 | Long             | LON              | CORP              | US        |   2234281 | PA      | $2124532.76   | 0.55%             | 2029-04-11      | Floating      | 9.03%                 | No            |                  2 | On Loan: No      |
| AHLSTROM HOLDING 3 OY                        | AHLSTROM HOLDING 3 OY                        | CUSIP: 78475BAB3<br>LEI: N/A                  | Long             | LON              | CORP              | FI        |   1927000 | PA      | $1924591.25   | 0.50%             | 2030-05-23      | Floating      | 8.51%                 | No            |                  2 | On Loan: No      |
| COVIS EQUITY B                               | COVIS EQUITY B                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     10030 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| FLASH CHARM, INC.                            | FLASH CHARM INC                              | CUSIP: 45168RAT0<br>LEI: 549300VQ6S3PWR8NUC48 | Long             | LON              | CORP              | US        |   2050000 | PA      | $1788625.00   | 0.46%             | 2028-03-02      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| INNOVATIVE XCESSORIES & SERVICES LLC         | IXS HOLDINGS INC                             | CUSIP: 45074HAC2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1500000 | PA      | $1491570.00   | 0.39%             | 2029-09-05      | Floating      | 9.66%                 | No            |                  2 | On Loan: No      |
| LES SCHWAB TIRE CENTERS                      | LES SCHWAB TIRE CENTERS                      | CUSIP: 50220KAD6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4664809 | PA      | $4650254.55   | 1.21%             | 2031-04-23      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| HARBOR FREIGHT TOOLS USA, INC.               | HARBOR FREIGHT TOOLS USA INC                 | CUSIP: 41151PAR6<br>LEI: 549300Y48HLCFTTB4249 | Long             | LON              | CORP              | US        |    997481 | PA      | $978778.34    | 0.25%             | 2031-06-11      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| THE HERTZ CORPORATION                        | HERTZ CORP THE                               | CUSIP: 42804VBB6<br>LEI: 549300PD0C69OJ0NLB27 | Long             | LON              | CORP              | US        |   1023612 | PA      | $917115.48    | 0.24%             | 2028-06-30      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| CCO HOLDINGS, LLC                            | CCO HOLDINGS LLC CCO HOLDINGS CAPITAL CORP   | CUSIP: 1248EPCQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1260000 | PA      | $1165444.18   | 0.30%             | 2032-02-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| FITNESS INTERNATIONAL LLC                    | FITNESS INTERNATIONAL LLC                    | CUSIP: 33818XAM2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4443750 | PA      | $4461525.00   | 1.16%             | 2029-02-12      | Floating      | 8.66%                 | No            |                  2 | On Loan: No      |
| AUDACY CAPITAL, LLC                          | AUDACY CAPITAL LLC                           | CUSIP: 05070XAC5<br>LEI: 549300S5JUSXRHNCHD80 | Long             | LON              | CORP              | US        |    460834 | PA      | $453921.77    | 0.12%             | 2028-09-30      | Floating      | 11.28%                | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYSTEMS, INC.           | CHS COMMUNITY HEALTH SYSTEMS INC             | CUSIP: 12543DBL3<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $725199.27    | 0.19%             | 2030-04-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| CHART INDUSTRIES, INC.                       | CHART INDUSTRIES INC                         | CUSIP: 16115EAT4<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | LON              | CORP              | US        |   2316917 | PA      | $2325605.61   | 0.60%             | 2030-03-18      | Floating      | 6.48%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                           | ENERGY TRANSFER PART LP                      | CUSIP: 29277EX17<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | STIV             | CORP              | US        |   2200000 | PA      | $2199739.96   | 0.57%             |  |  |  | Yes           |                  2 | On Loan: No      |
| TRANSDIGM INC.                               | TRANSDIGM INC                                | CUSIP: 89364MCF9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |   1220000 | PA      | $1218536.00   | 0.32%             | 2030-03-22      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| RIVER ROCK ENTERTAINMENT AUTHORITY           | RIVER ROCK ENTERTAINMENT AUTHORITY           | CUSIP: BL5114014<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    860000 | PA      | $838500.00    | 0.22%             | 2031-06-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ENTERCOM MEDIA CORP                          | ENTERCOM MEDIA CORP                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    147854 | NS      | $1330686.00   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| LONG RIDGE ENERGY LLC                        | LONG RIDGE ENERGY LLC                        | CUSIP: 54288BAB1<br>LEI: 984500764EC9AZ2FC764 | Long             | LON              | CORP              | US        |   1800000 | PA      | $1757808.00   | 0.46%             | 2032-02-19      | Floating      | 8.50%                 | No            |                  2 | On Loan: No      |
| RVR DEALERSHIP HOLDINGS, LLC                 | RVR DEALERSHIP HOLDINGS LLC                  | CUSIP: 75001CAB0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1994768 | PA      | $1877296.58   | 0.49%             | 2028-02-08      | Floating      | 8.01%                 | No            |                  2 | On Loan: No      |
| VESTIS CORPORATION                           | VESTIS CORP                                  | CUSIP: 92550HAE3<br>LEI: 254900QDW0TA2TMFAP59 | Long             | LON              | CORP              | US        |   2493750 | PA      | $2339960.44   | 0.61%             | 2031-02-24      | Floating      | 6.45%                 | No            |                  2 | On Loan: No      |
| EVERGREEN ACQCO 1 LP                         | EVERGREEN ACQUO 1 LP                         | CUSIP: 30015FAJ5<br>LEI: 549300F6POVHG3ME8T95 | Long             | LON              | CORP              | US        |    671000 | PA      | $671000.00    | 0.17%             | 2032-09-17      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| CORNERSTONE BUILDING BRANDS, INC.            | CORNERSTONE BUILDING BRANDS INC              | CUSIP: 72431HAD2<br>LEI: 549300IW41QEWQ6T0H29 | Long             | LON              | CORP              | US        |   3348486 | PA      | $3173828.91   | 0.83%             | 2028-04-12      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| SOUTHERN VETERINARY PARTNERS, LLC            | SOUTHERN VETERINARY PARTNERS LLC             | CUSIP: 84410HAQ3<br>LEI: 549300DT78GYJYRK0R74 | Long             | LON              | CORP              | US        |   1000000 | PA      | $997670.00    | 0.26%             | 2031-12-04      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| McGraw-Hill Education, Inc.                  | MCGRAW HILL EDUCATION INC                    | CUSIP: 58063DAG8<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | LON              | CORP              | US        |   2679615 | PA      | $2678784.03   | 0.70%             | 2031-08-06      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| CORE & MAIN LP                               | CORE MAIN LP                                 | CUSIP: 40416VAH8<br>LEI: 549300ZSLF8Q660SCD17 | Long             | LON              | CORP              | US        |   4186489 | PA      | $4173427.22   | 1.08%             | 2031-02-10      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS, LLC                         | SHIFT4 PAYMENTS LLC                          | CUSIP: 82453JAB4<br>LEI: 254900GTEMR7L40VPI74 | Long             | LON              | CORP              | US        |    500000 | PA      | $503540.00    | 0.13%             | 2032-05-10      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| REALPAGE, INC.                               | REALPAGE INC                                 | CUSIP: 75605VAD4<br>LEI: 5493001RSFZX4122A604 | Long             | LON              | CORP              | US        |   3387067 | PA      | $3377718.97   | 0.88%             | 2028-04-22      | Floating      | 7.26%                 | No            |                  2 | On Loan: No      |
| MH SUB I, LLC                                | MH SUB I LLC                                 | CUSIP: 45567YAN5<br>LEI: 2549005VFKP807SR8N49 | Long             | LON              | CORP              | US        |   2351986 | PA      | $2258894.66   | 0.59%             | 2028-05-03      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| TRAVERSE MIDSTREAM PARTNERS LLC              | TRAVERSE MIDSTREAM PARTNERS LLC              | CUSIP: 89435TAB0<br>LEI: 549300DHTM8B2X5QMJ22 | Long             | LON              | CORP              | US        |   4014159 | PA      | $4016688.36   | 1.04%             | 2028-02-16      | Floating      | 6.81%                 | No            |                  2 | On Loan: No      |
| MADISON IAQ LLC                              | MADISON IAQ LLC                              | CUSIP: 55759VAB4<br>LEI: 549300IXDNBXNHUPBU73 | Long             | LON              | CORP              | US        |   2987574 | PA      | $2988081.95   | 0.78%             | 2028-06-16      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| Owens & Minor, Inc.                          | OWENS MINOR INC                              | CUSIP: 690732AG7<br>LEI: 549300LMT5KQQXCEZ733 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $824507.55    | 0.21%             | 2030-04-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| 19TH HOLDINGS GOLF, LLC                      | 19TH HOLDINGS GOLF LLC                       | CUSIP: 68250XAB7<br>LEI: 549300INS30LLUJP0S18 | Long             | LON              | CORP              | US        |   2196448 | PA      | $2186147.14   | 0.57%             | 2029-02-07      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| COVIS EQUITY E                               | COVIS EQUITY E                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     10030 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| MH SUB I LLC                                 | MH SUB I LLC                                 | CUSIP: 45567YAP0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1591864 | PA      | $1462524.81   | 0.38%             | 2031-12-31      | Floating      | 8.41%                 | No            |                  2 | On Loan: No      |
| KNIGHT HEALTH HOLDINGS LLC                   | KNIGHT HEALTH HOLDINGS LLC                   | CUSIP: 49902TAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  22665701 | PA      | $7071698.83   | 1.84%             | 2028-12-26      | Floating      | 9.53%                 | No            |                  2 | On Loan: No      |
| OSCAR ACQUISITIONCO, LLC                     | OSCAR ACQUISITIONCO LLC                      | CUSIP: 68778DAB4<br>LEI: 254900RDCZK0Q19MEL65 | Long             | LON              | CORP              | US        |   6303650 | PA      | $5875317.18   | 1.53%             | 2029-04-29      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| CQP HOLDCO LP                                | CQP HOLDCO LP BIP V CHINOOK HOLDCO LLC       | CUSIP: 12657NAB6<br>LEI: 549300LPL012JY5D4B69 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1628229.55   | 0.42%             | 2033-12-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| CSC HOLDINGS, LLC                            | CSC HOLDINGS LLC                             | CUSIP: 126307BN6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $843786.59    | 0.22%             | 2029-01-31      | Fixed         | 11.75%                | Yes           |                  2 | On Loan: No      |
| STAGWELL GLOBAL LLC                          | MIDAS OPCO HOLDINGS LLC                      | CUSIP: 59565JAA9<br>LEI: 984500904E015Z0C1F82 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1458463.39   | 0.38%             | 2029-08-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| METHANEX US OPERATIONS INC.                  | METHANEX US OPERATIONS INC                   | CUSIP: 59151LAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1017476.11   | 0.26%             | 2032-03-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| FIRST ADVANTAGE HOLDINGS, LLC                | FIRST ADVANTAGE HOLDINGS LLC                 | CUSIP: 78477MAH4<br>LEI: 549300MRQE5MQEH3BI02 | Long             | LON              | CORP              | US        |   1482675 | PA      | $1443295.42   | 0.38%             | 2031-10-31      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS, LLC                            | CSC HOLDINGS LLC                             | CUSIP: 64072UAM4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | LON              | CORP              | US        |   3845496 | PA      | $3818308.69   | 0.99%             | 2028-01-18      | Floating      | 8.65%                 | No            |                  2 | On Loan: No      |
| MEADE PIPELINE CO LLC                        | MEADE PIPELINE CO LLC                        | CUSIP: BL5233152<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    610000 | PA      | $609237.50    | 0.16%             | 2032-09-22      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| GGAM Finance Limited                         | GGAM FINANCE LTD                             | CUSIP: 36170JAA4<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |   1500000 | PA      | $1590546.17   | 0.41%             | 2028-06-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| CARRIAGE PURCHASER, INC.                     | CARRIAGE PURCHASER INC                       | CUSIP: 14445BAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1000000 | PA      | $1000000.00   | 0.26%             | 2028-09-29      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| Entain plc                                   | ENTAIN PLC                                   | CUSIP: G3168QAB3<br>LEI: 213800GNI3K45LQR8L28 | Long             | LON              | CORP              | IM        |   1915284 | PA      | $1911529.98   | 0.50%             | 2032-07-30      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| AIR METHODS CORPORATION                      | AIR METHODS CORPORATION                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     79744 | NS      | $5980800.00   | 1.55%             |  |  |  | No            |                  3 | On Loan: No      |
| LIFEPOINT HEALTH, INC.                       | LIFEPOINT HEALTH                             | CUSIP: 75915TAK8<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |   4919046 | PA      | $4906256.05   | 1.28%             | 2031-05-14      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| BAKELITE US HOLDCO, INC.                     | BAKELITE US HOLDCO INC                       | CUSIP: 05710LAD5<br>LEI: 549300UCYL2XSFT5Y041 | Long             | LON              | CORP              | US        |   1964945 | PA      | $1959050.22   | 0.51%             | 2031-12-16      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| KARMAN HOLDINGS INC.                         | KARMAN HOLDINGS INC                          | CUSIP: 48571CAC5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    825000 | PA      | $827062.50    | 0.22%             | 2032-04-01      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| ALLSPRING BUYER LLC                          | ALLSPRING BUYER LLC                          | CUSIP: 98922AAE6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    977550 | PA      | $978771.94    | 0.25%             | 2030-11-01      | Floating      | 6.81%                 | No            |                  2 | On Loan: No      |
| Anchor Packaging, LLC                        | ANCHOR PACKAING LLC                          | CUSIP: 03306UAH1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3967110 | PA      | $3981153.81   | 1.04%             | 2029-07-18      | Floating      | 7.39%                 | No            |                  2 | On Loan: No      |
| FIRST BRANDS GROUP, LLC                      | FIRST BRANDS GROUP LLC                       | CUSIP: 31935HAD9<br>LEI: 2549005IXRZR7KSBJD91 | Long             | LON              | CORP              | US        |   2265888 | PA      | $797116.80    | 0.21%             | 2027-03-24      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| B&G FOODS, INC.                              | B G FOODS INC                                | CUSIP: 05508TAV4<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | LON              | CORP              | US        |   6400974 | PA      | $6125731.98   | 1.59%             | 2029-10-10      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| SURGERY CENTER HOLDINGS, INC.                | SURGERY CENTER HOLDINGS INC                  | CUSIP: 86880NBD4<br>LEI: 54930054EVI5HWPPW113 | Long             | LON              | CORP              | US        |   1979950 | PA      | $1980326.07   | 0.51%             | 2030-12-19      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| COVIS EQUITY D                               | COVIS EQUITY D                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     10030 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| NOVELIS CORPORATION                          | NOVELIS CORP                                 | CUSIP: 670001AH9<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $910806.00    | 0.24%             | 2031-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| ALLIED UNIVERSAL HOLDCO LLC                  | ALLIED UNIVERSAL HOLDCO LLC                  | CUSIP: 019576AD9<br>LEI: 98450038B4549046D794 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1049034.90   | 0.27%             | 2031-02-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| AMNEAL PHARMACEUTICALS LLC                   | AMNEAL PHARMACEUTICALS LLC                   | CUSIP: 03167DAR5<br>LEI: 54930037VIXE7LRZ1M66 | Long             | LON              | CORP              | US        |   2088000 | PA      | $2084513.04   | 0.54%             | 2032-07-26      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| TURQUOISE TOPCO LTD                          | TURQUOISE TOPCO LTD                          | CUSIP: 89776TAB7<br>LEI: N/A                  | Long             | LON              | CORP              | JE        |    680000 | PA      | $680428.40    | 0.18%             | 2032-08-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| COVIS EQUITY C                               | COVIS EQUITY C                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     10030 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| EMBECTA CORP.                                | EMBECTA CORP                                 | CUSIP: 29081LAC8<br>LEI: 549300RPG8GXVDHNXZ62 | Long             | LON              | CORP              | US        |   4229423 | PA      | $4223967.43   | 1.10%             | 2029-04-02      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS LTD.                  | FIRST QUANTUM MINERALS LTD                   | CUSIP: 335934AX3<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    225000 | PA      | $232620.28    | 0.06%             | 2034-02-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| MERMAID BIDCO INC.                           | MERMAID BIDCO INC                            | CUSIP: 59012CAL9<br>LEI: 254900765HT42I3EW691 | Long             | LON              | CORP              | US        |    612864 | PA      | $611460.90    | 0.16%             | 2031-07-02      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC.                               | TRANSDIGM INC                                | CUSIP: 893647BZ9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     82000 | PA      | $84401.42     | 0.02%             | 2034-01-31      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Clearway Energy Operating LLC                | CLEARWAY ENERGY OPERATING LLC                | CUSIP: 18539UAD7<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $918018.35    | 0.24%             | 2031-02-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HOLDINGS, INC.         | CLEAR CHANNEL OUTDOOR HOLDINGS INC           | CUSIP: 18453HAF3<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |   1560000 | PA      | $1638239.13   | 0.43%             | 2030-04-01      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| GLOVES BUYER, INC.                           | GLOVES BUYER INC                             | CUSIP: 37987UAG7<br>LEI: 54930015O0Y94T5H8Z18 | Long             | LON              | CORP              | US        |   1218000 | PA      | $1180242.00   | 0.31%             | 2032-01-17      | Floating      | 8.16%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES CORP.                        | TARGA RESOURCES CORP                         | CUSIP: 87613EX18<br>LEI: 5493003QENHHS261UR94 | Long             | STIV             | CORP              | US        |   2200000 | PA      | $2199717.96   | 0.57%             |  |  |  | Yes           |                  2 | On Loan: No      |
| PETCO HEALTH AND WELLNESS COMPANY, INC.      | PETCO ANIMAL SUPPLIES INC                    | CUSIP: 71601HAB2<br>LEI: 2549007TYGV6RVSE9M61 | Long             | LON              | CORP              | US        |   3376537 | PA      | $3285641.04   | 0.85%             | 2028-02-25      | Floating      | 7.51%                 | No            |                  2 | On Loan: No      |
| DS PARENT, INC.                              | DS PARENT INC                                | CUSIP: 23344YAG7<br>LEI: 254900EH8GRZUGRWRH57 | Long             | LON              | CORP              | US        |   1994962 | PA      | $1842008.47   | 0.48%             | 2031-01-31      | Floating      | 9.50%                 | No            |                  2 | On Loan: No      |
| Gray Media, Inc                              | GRAY MEDIA INC                               | CUSIP: 389375AP1<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    925000 | PA      | $917523.38    | 0.24%             | 2033-08-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| NORTHRIVER MIDSTREAM FINANCE LP              | NORTHRIVER MIDSTREAM FINANCE LP              | CUSIP: 66679PAB1<br>LEI: 549300SOLNLY3BL6GF18 | Long             | LON              | CORP              | CA        |   3018424 | PA      | $3017065.91   | 0.78%             | 2030-08-16      | Floating      | 6.24%                 | No            |                  2 | On Loan: No      |
| IMC FINANCING LLC                            | IMC FINANCING LLC                            | CUSIP: 44967NAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    689000 | PA      | $693306.25    | 0.18%             | 2032-06-18      | Floating      | 7.64%                 | No            |                  2 | On Loan: No      |
| LIFESCAN GLOBAL CORPORATION                  | LIFESCAN GLOBAL CORP                         | CUSIP: 53227PAP5<br>LEI: 549300VL0F83S4LR4105 | Long             | LON              | CORP              | US        |   6467428 | PA      | $6176393.58   | 1.61%             | 2026-12-31      | Floating      | 10.80%                | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS LTD.                  | FIRST QUANTUM MINERALS LTD                   | CUSIP: 335934AU9<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $1051236.11   | 0.27%             | 2031-06-01      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN AUTO AUCTION GROUP, LLC             | AMERICAN AUTO AUCTION GROUP LLC              | CUSIP: 02403MAR1<br>LEI: 5493002VI1KML1L8HW19 | Long             | LON              | CORP              | US        |    554610 | PA      | $558669.75    | 0.15%             | 2032-05-24      | Floating      | 8.50%                 | No            |                  2 | On Loan: No      |
| FRONERI INTERNATIONAL LIMITED                | FRONERI US INC                               | CUSIP: G3679YAM4<br>LEI: 213800NRSZ1N2Y6LEX44 | Long             | LON              | CORP              | GB        |   1225000 | PA      | $1221741.50   | 0.32%             | 2032-07-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CUMULUS MEDIA NEW HOLDINGS INC.              | CUMULUS MEDIA NEW HOLDINGS INC               | CUSIP: 23108LAB2<br>LEI: 5493001D9VBAVY1OKJ46 | Long             | LON              | CORP              | US        |  14406317 | PA      | $3853689.81   | 1.00%             | 2026-03-31      | Floating      | 9.32%                 | No            |                  2 | On Loan: No      |
| WHITE CAP SUPPLY HOLDINGS, LLC               | WHITE CAP BUYER LLC                          | CUSIP: 96350TAH3<br>LEI: 254900L2N0T6GULCL366 | Long             | LON              | CORP              | US        |   6613580 | PA      | $6612191.36   | 1.72%             | 2029-10-19      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| GOAT HOLDCO, LLC                             | BARNES GROUP                                 | CUSIP: 38021CAC2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    635408 | PA      | $635750.62    | 0.17%             | 2031-12-09      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| DIAMOND FOREIGN ASSET COMPANY                | DIAMOND FOREIGN ASSET CO DIAMOND FINANCE LLC | CUSIP: 25260WAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   1250000 | PA      | $1325618.76   | 0.34%             | 2030-10-01      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| ARSENAL AIC PARENT LLC                       | ARSENAL AIC PARENT LLC                       | CUSIP: 04287KAG6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4421755 | PA      | $4414856.89   | 1.15%             | 2030-08-18      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| HOUGHTON MIFFLIN HARCOURT CO                 | HOUGHTON MIFFLIN HARCOURT CO                 | CUSIP: 44157YAE4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3286109 | PA      | $2926904.60   | 0.76%             | 2029-04-07      | Floating      | 9.51%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                                | COMMSCOPE LLC                                | CUSIP: BL4902708<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1500000 | PA      | $1516875.00   | 0.39%             | 2029-12-17      | Floating      | 8.91%                 | No            |                  2 | On Loan: No      |
| ADAPTHEALTH, LLC                             | ADAPTHEALTH LLC                              | CUSIP: 00653VAE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $954262.06    | 0.25%             | 2030-03-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| GRAHAM PACKAGING COMPANY INC.                | GRAHAM PACKAGING CO INC                      | CUSIP: 38469EAE3<br>LEI: 549300YS0ZFT826HIK72 | Long             | LON              | CORP              | US        |   2343256 | PA      | $2342271.84   | 0.61%             | 2027-08-04      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| ORION US FINCO                               | ORION US FINCO                               | CUSIP: 68631KAB5<br>LEI: N/A                  | Long             | LON              | CORP              | BM        |   1503000 | PA      | $1510515.00   | 0.39%             | 2032-05-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HAMILTON PROJECTS ACQUIROR, LLC              | HAMILTON PROJECTS ACQUIROR LLC               | CUSIP: 40444KAF2<br>LEI: 5493005K6XILIQ2EZY52 | Long             | LON              | CORP              | US        |    750000 | PA      | $751560.00    | 0.20%             | 2031-05-30      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| LIGHT AND WONDER INTERNATIONAL, INC.         | LIGHT WONDER INTERNATIONAL INC               | CUSIP: 80875AAW1<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | LON              | CORP              | US        |   4828623 | PA      | $4831665.33   | 1.26%             | 2029-04-16      | Floating      | 6.39%                 | No            |                  2 | On Loan: No      |
| GATES CORPORATION                            | GATES CORP DE                                | CUSIP: 36740UAY8<br>LEI: 984500F43C791F4C7894 | Long             | LON              | CORP              | US        |   5950013 | PA      | $5939124.08   | 1.54%             | 2031-06-04      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| SEDGWICK CLAIMS MANAGEMENT SERVICES, INC.    | SEDGWICK CLAIMS MANAGEMENT SERVICES INC      | CUSIP: 81527CAP2<br>LEI: 549300BIN4DWJG5VWF64 | Long             | LON              | CORP              | US        |   2645012 | PA      | $2640886.28   | 0.69%             | 2028-02-24      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| HOLLEY INC.                                  | HOLLEY PURCHASER INC                         | CUSIP: 43538JAC3<br>LEI: 254900EEM9JI9G1A4D88 | Long             | LON              | CORP              | US        |   4086801 | PA      | $4025498.70   | 1.05%             | 2028-11-10      | Floating      | 8.03%                 | No            |                  2 | On Loan: No      |
| SCIENTIFIC GAMES HOLDINGS LP                 | SCIENTIFIC GAMES HOLDINGS LP                 | CUSIP: 80874DAA4<br>LEI: 549300W5GPFXXB6TQ330 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1858147.29   | 0.48%             | 2030-03-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| JABIL INC.                                   | JABIL INC                                    | CUSIP: 46652LX10<br>LEI: 5493000CGCQY2OQU7669 | Long             | STIV             | CORP              | US        |   1600000 | PA      | $1599782.24   | 0.42%             |  |  |  | Yes           |                  2 | On Loan: No      |
| DIAMOND ESCROW ISSUER, LLC                   | OLYMPUS WATER US HOLDING CORP                | CUSIP: 25259KAA8<br>LEI: 2549002I12VHJWR4RC85 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1049282.42   | 0.27%             | 2028-11-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| AUDACY CAPITAL, LLC                          | ENTERCOM MEDIA CORP                          | CUSIP: 05070XAB7<br>LEI: 549300S5JUSXRHNCHD80 | Long             | LON              | CORP              | US        |   3863213 | PA      | $3096364.96   | 0.80%             | 2029-10-01      | Floating      | 10.28%                | No            |                  2 | On Loan: No      |
| ZIGGO FINANCING PARTNERSHIP                  | ZIGGO FINANCING PARTNERSHIP                  | CUSIP: N9833RAJ8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3672160 | PA      | $3660702.62   | 0.95%             | 2028-04-30      | Floating      | 6.76%                 | No            |                  2 | On Loan: No      |
| AMKOR TECHNOLOGY, INC.                       | AMKOR TECHNOLOGY INC                         | CUSIP: 031652BL3<br>LEI: 529900VHLRTKPWZJBM84 | Long             | DBT              | CORP              | US        |     85000 | PA      | $85865.59     | 0.02%             | 2033-10-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| MCAFEE CORP.                                 | MCAFEE CORP                                  | CUSIP: 57906HAF4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | LON              | CORP              | US        |   2960024 | PA      | $2822205.51   | 0.73%             | 2029-03-01      | Floating      | 7.09%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORPORATION                      | DUKE ENERGY CORP                             | CUSIP: 26244HX16<br>LEI: I1BZKREC126H0VB1BL91 | Long             | STIV             | CORP              | US        |   1000000 | PA      | $999885.10    | 0.26%             |  |  |  | Yes           |                  2 | On Loan: No      |
| PERRIGO COMPANY PUBLIC LIMITED COMPANY       | PERRIGO INVESTMENTS LLC                      | CUSIP: 71429TAF7<br>LEI: 549300IFOQS6R1QLY196 | Long             | LON              | CORP              | IE        |   2996342 | PA      | $2991337.63   | 0.78%             | 2029-04-20      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS, LLC                         | SHIFT4 PAYMENTS LLC                          | CUSIP: 82453AAB3<br>LEI: 254900GTEMR7L40VPI74 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1550406.55   | 0.40%             | 2032-08-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| TRAVEL + LEISURE CO.                         | TRAVEL LEISURE CO                            | CUSIP: 98309GAF3<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | LON              | CORP              | US        |   2172582 | PA      | $2177210.10   | 0.57%             | 2029-12-14      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| JO ANN STORES LLC                            | JO ANN STORES LLC                            | CUSIP: 47768J200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     38650 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| COVIS EQUITY A                               | COVIS EQUITY A                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     10030 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| ALPHA GENERATION LLC                         | ALPHA GENERATION LLC                         | CUSIP: 02073LAA9<br>LEI: 254900K5V62L4YGVKF49 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1033256.52   | 0.27%             | 2032-10-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| CONSTELLATION RENEWABLES, LLC                | EXGEN RENEWABLES IV LLC                      | CUSIP: 30204KAD8<br>LEI: 5493004JBPWTPTK8LB51 | Long             | LON              | CORP              | US        |   2743592 | PA      | $2736732.85   | 0.71%             | 2027-12-15      | Floating      | 6.45%                 | No            |                  2 | On Loan: No      |
| WINDSTREAM SERVICES, LLC                     | UNITI GROUP LP UNITI GROUP FINANCE INC       | CUSIP: 91327TAA9<br>LEI: 549300KT9GVEBYCD2N29 | Long             | DBT              | CORP              | US        |    784000 | PA      | $825160.00    | 0.21%             | 2028-02-15      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| THE HERTZ CORPORATION                        | HERTZ CORP THE                               | CUSIP: 42804VBC4<br>LEI: 549300PD0C69OJ0NLB27 | Long             | LON              | CORP              | US        |    203454 | PA      | $182286.52    | 0.05%             | 2028-06-30      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| JANUS INTERNATIONAL GROUP, LLC               | JANUS INTERNATIONAL GROUP LLC                | CUSIP: 47102DAN9<br>LEI: 549300EG57ZJJG8NC776 | Long             | LON              | CORP              | US        |   3545600 | PA      | $3549606.53   | 0.92%             | 2030-08-05      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| GIP PILOT ACQUISITION PARTNERS, L.P.         | GIP PILOT ACQUISITION PARTNERS L P           | CUSIP: 31773HAE2<br>LEI: 254900NQOAOPPA12X060 | Long             | LON              | CORP              | US        |   2742232 | PA      | $2736226.06   | 0.71%             | 2030-10-04      | Floating      | 5.94%                 | No            |                  2 | On Loan: No      |
| ARCHES BUYER INC.                            | ARCHES BUYER INC                             | CUSIP: 03952HAD6<br>LEI: 2549009ADY4208OH2Y47 | Long             | LON              | CORP              | US        |   1969072 | PA      | $1969997.63   | 0.51%             | 2027-12-06      | Floating      | 7.51%                 | No            |                  2 | On Loan: No      |
| PETSMART LLC                                 | PETSMART LLC                                 | CUSIP: 71677HAN5<br>LEI: 894500NGJMHSFNESGA67 | Long             | LON              | CORP              | US        |   2000000 | PA      | $1968760.00   | 0.51%             | 2032-08-09      | Floating      | 8.14%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN, INC.                          | KINDER MORGAN ENERGY LP                      | CUSIP: 49455LX13<br>LEI: 549300WR7IX8XE0TBO16 | Long             | STIV             | CORP              | US        |   1700000 | PA      | $1699786.31   | 0.44%             |  |  |  | Yes           |                  2 | On Loan: No      |
| MEN S WEARHOUSE INC                          | MEN S WEARHOUSE INC                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     32607 | NS      | $652140.00    | 0.17%             |  |  |  | No            |                  3 | On Loan: No      |
| DIRECTV FINANCING, LLC                       | DIRECTV FINANCING LLC                        | CUSIP: 25460HAD4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2121690 | PA      | $2123239.04   | 0.55%             | 2029-08-02      | Floating      | 9.82%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** Victory Portfolios

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer