# EDGAR Filing Document

**Accession Number:** 0000916490
**File Stem:** 0000910472-25-003477
**Filing Date:** 2025-11
**Character Count:** 60230
**Document Hash:** 57a6ba93f35ba38a9a5bafca8618f1e1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-003477.hdr.sgml**: 20251119

**ACCESSION NUMBER**: 0000910472-25-003477

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251119

**DATE AS OF CHANGE**: 20251119

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TIMOTHY PLAN
- **CENTRAL INDEX KEY:** 0000916490

**ORGANIZATION NAME:**
- **EIN:** 597016828
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08228
- **FILM NUMBER:** 251497758

**BUSINESS ADDRESS:**
- **STREET 1:** 1055 MAITLAND CENTER COMMONS
- **CITY:** MAITLAND
- **STATE:** FL
- **ZIP:** 32751
- **BUSINESS PHONE:** 4076441986

**MAIL ADDRESS:**
- **STREET 1:** 1055 MAITLAND CENTER COMMONS
- **CITY:** MAITLAND
- **STATE:** FL
- **ZIP:** 32751

## Series and Classes Contracts Data

### Timothy Plan High Yield Bond Fund (Series ID: S000017791)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000049122 | Timothy Plan High Yield Bond Fund Class A | TPHAX           |
| C000065171 | Timothy Plan High Yield Bond Fund Class C | TPHCX           |
| C000127001 | Timothy Plan High Yield Bond Fund Class I | TPHIX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** TIMOTHY PLAN

- **b. Investment Company Act file number:** 811-08228

- **c. CIK number of Registrant:** 0000916490

- **d. LEI of Registrant:** 549300TW26XMX8DL8P98

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

  - **Street Address 1:** 1055 MAITLAND CENTER COMMONS

  - **City:** MAITLAND

  - **State:** FL

  - **Foreign country:** US

  - **Zip / Postal Code:** 32759

  - **Telephone number:** 407-644-1986

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

- **a. Name of Series:** Timothy Plan High Yield Bond Fund

- **b. EDGAR series identifier (if any):** S000017791

- **c. LEI of Series:** 549300ZLWMUCZ2433N54

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

- **a. Date of fiscal year-end:** 2025-09-30

- **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:** $232413565.41

**Total Liabilities:** $192393.50

**Net Assets:** $232221171.91

**Cash Not Reported:** $1600000.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 697.83191100 | **5-Year:** 2404.59015600 | **10-Year:** 1914.06327600 | **30-Year:** 3584.59073500

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

- **3-Month:** 361.23755800 | **1-Year:** 15686.02161200 | **5-Year:** 38328.39998500 | **10-Year:** 3755.98979500 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000065171 | 0.11%                | 1.08%                | 0.40%                |
| Class ID C000049122 | 0.11%                | 1.21%                | 0.49%                |
| Class ID C000127001 | 0.11%                | 1.21%                | 0.44%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $18396.10                | $-802441.19                                |
| Month 2  | $4039.75                 | $1678026.82                                |
| Month 3  | $9536.31                 | $8095.11                                   |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| HAH Group Holding Co. LLC                                                                  | HAHGRO 9 3/4 10/01/31  | CUSIP: 40518JAA7<br>LEI: 254900FFJQHW9R90FL74 | Long             | DBT              | CORP              | US        |   2820000 | PA      | $2681581.63   | 1.15%             | 2031-10-01      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Gates Corp.                                                                                | GATCOR 6 7/8 07/01/29  | CUSIP: 367398AA2<br>LEI: 984500F43C791F4C7894 | Long             | DBT              | CORP              | US        |    700000 | PA      | $727332.20    | 0.31%             | 2029-07-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Trimas Corporation                                                                         | TRS 4 1/8 04/15/29     | CUSIP: 896215AH3<br>LEI: 75G1WUQ8QK4P5MZOYD78 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1697084.73   | 0.73%             | 2029-04-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Acrisure Llc / Acrisure Fin Inc                                                            | ACRISU 7 1/2 11/06/30  | CUSIP: 00489LAL7<br>LEI: 549300R0Z1Q47XRTGO22 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1042583.00   | 0.45%             | 2030-11-06      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Ashton Woods (USA) LLC/Ashton Woods Finance Co.                                            | ASHWOO 4 5/8 08/01/29  | CUSIP: 045086AM7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1677283.67   | 0.72%             | 2029-08-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| LABL Inc                                                                                   | LABL 9 1/2 11/01/28    | CUSIP: 50168QAE5<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |    625000 | PA      | $531235.19    | 0.23%             | 2028-11-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Aptiv PLC / Aptiv Global Financing DAC                                                     | APTV 6 7/8 12/15/54    | CUSIP: 03837AAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | JE        |   5620000 | PA      | $5752890.52   | 2.48%             | 2054-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Rithm Capital Corp.                                                                        | RITM 8 04/01/29        | CUSIP: 64828TAB8<br>LEI: 549300WNTHGEO5LP2G31 | Long             | DBT              | CORP              | US        |   4050000 | PA      | $4148868.60   | 1.79%             | 2029-04-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| LABL Inc                                                                                   | LABL 8 1/4 11/01/29    | CUSIP: 50168QAD7<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $630625.00    | 0.27%             | 2029-11-01      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| SPX Flow Inc.                                                                              | FLOW 8 3/4 04/01/30    | CUSIP: 758071AA2<br>LEI: 5493003YXEKRBINIEM78 | Long             | DBT              | CORP              | US        |    500000 | PA      | $513817.00    | 0.22%             | 2030-04-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Freedom Mortgage Corporation                                                               | FREMOR 6 5/8 01/15/27  | CUSIP: 35640YAJ6<br>LEI: 549300LYRWPSYPK6S325 | Long             | DBT              | CORP              | US        |    500000 | PA      | $499195.35    | 0.21%             | 2027-01-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Graham Packaging Co Inc.                                                                   | GRMPAC 7 1/8 08/15/28  | CUSIP: 384701AA6<br>LEI: 549300YS0ZFT826HIK72 | Long             | DBT              | CORP              | US        |    500000 | PA      | $501766.50    | 0.22%             | 2028-08-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                                                            | TDG 6 1/4 01/31/34     | CUSIP: 893647BZ9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    325000 | PA      | $334157.41    | 0.14%             | 2034-01-31      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Freedom Mortgage Corporation                                                               | FREMOR 12 10/01/28     | CUSIP: 35640YAK3<br>LEI: 549300LYRWPSYPK6S325 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1060000.00   | 0.46%             | 2028-10-01      | Fixed         | 12.00%                | Yes           |                  2 | On Loan: No      |
| Trivium Packaging Finance BV                                                               | TRIVIU 8 1/4 07/15/30  | CUSIP: 89686QAD8<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $320336.40    | 0.14%             | 2030-07-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Canpack SA And Canpack US LLC                                                              | CANPCK 3 7/8 11/15/29  | CUSIP: 13806CAA0<br>LEI: 259400TS8W5E4ILGVP08 | Long             | DBT              | CORP              | PL        |   1000000 | PA      | $939218.10    | 0.40%             | 2029-11-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| UKG Inc.                                                                                   | ULTI 6 7/8 02/01/31    | CUSIP: 90279XAA0<br>LEI: 529900FKHWSTQ1GXK240 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1032583.00   | 0.44%             | 2031-02-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Builders Firstsource, Inc.                                                                 | BLDR 6 3/8 03/01/34    | CUSIP: 12008RAS6<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1289210.00   | 0.56%             | 2034-03-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Insulet Corporation                                                                        | PODD 6 1/2 04/01/33    | CUSIP: 45784PAL5<br>LEI: 549300TZTYD2PYN92D43 | Long             | DBT              | CORP              | US        |    325000 | PA      | $338196.30    | 0.15%             | 2033-04-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Walker & Dunlop Inc.                                                                       | WD 6 5/8 04/01/33      | CUSIP: 93148PAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    655000 | PA      | $671657.74    | 0.29%             | 2033-04-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Starwood Property Trust, Inc.                                                              | STWD 6 04/15/30        | CUSIP: 85571BBC8<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    820000 | PA      | $833078.18    | 0.36%             | 2030-04-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| ITT Holdings LLC                                                                           | INTMAT 6 1/2 08/01/29  | CUSIP: 45074JAA2<br>LEI: 549300TH2PHOLK31LB42 | Long             | DBT              | CORP              | US        |   2075000 | PA      | $2041485.22   | 0.88%             | 2029-08-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Tronox Incorporated                                                                        | TROX 4 5/8 03/15/29    | CUSIP: 897051AC2<br>LEI: 549300EPZ4YXC7E5P181 | Long             | DBT              | CORP              | US        |   1375000 | PA      | $897851.42    | 0.39%             | 2029-03-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| AerCap Ireland Capital Designated Activity Co. / AerCap Global Aviation Trust (AER)        | AER 6.95 03/10/55      | CUSIP: 00774MBK0<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | CORP              | IE        |   1000000 | PA      | $1046949.04   | 0.45%             | 2055-03-10      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Air Lease Corporation                                                                      | AL 4.65 PERP           | CUSIP: 00912XBJ2<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2965415.88   | 1.28%             | 2170-06-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Permian Resources Operating, LLC                                                           | PR 7 01/15/32          | CUSIP: 71424VAA8<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103788.80    | 0.04%             | 2032-01-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Axalta Coating Systems LLC                                                                 | AXTA 3 3/8 02/15/29    | CUSIP: 05453GAC9<br>LEI: 549300G80QONCHILSF69 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $948228.30    | 0.41%             | 2029-02-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| W. R. Grace Holdings Llc                                                                   | GRA 5 5/8 08/15/29     | CUSIP: 92943GAA9<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2325178.00   | 1.00%             | 2029-08-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Rithm Capital Corp.                                                                        | RITM 8 07/15/30        | CUSIP: 64828TAC6<br>LEI: 549300WNTHGEO5LP2G31 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1177766.75   | 0.51%             | 2030-07-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Genesis Energy LP & Genesis Energy Finance Corp.                                           | GEL 7 3/4 02/01/28     | CUSIP: 37185LAL6<br>LEI: 549300VJ5D6MDK138782 | Long             | DBT              | CORP              | US        |    500000 | PA      | $503935.00    | 0.22%             | 2028-02-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Tronox Incorporated                                                                        | TROX 9 1/8 09/30/30    | CUSIP: 897051AD0<br>LEI: 549300EPZ4YXC7E5P181 | Long             | DBT              | CORP              | US        |    905000 | PA      | $887073.43    | 0.38%             | 2030-09-30      | Fixed         | 9.12%                 | Yes           |                  2 | On Loan: No      |
| LABL Inc                                                                                   | LABL 5 7/8 11/01/28    | CUSIP: 50168QAC9<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $970937.38    | 0.42%             | 2028-11-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Lithia Motors Incorporated                                                                 | LAD 4 3/8 01/15/31     | CUSIP: 536797AF0<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $950406.13    | 0.41%             | 2031-01-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Vistra Corp                                                                                | VST 7 PERP             | CUSIP: 92840MAC6<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2032000.00   | 0.88%             | 2170-06-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Nustar Logistics, L.P.                                                                     | NSUS 5 5/8 04/28/27    | CUSIP: 67059TAE5<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2012972.00   | 0.87%             | 2027-04-28      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Burford Capital Global Finance LLC                                                         | BURLN 6 1/4 04/15/28   | CUSIP: 12116LAA7<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |    500000 | PA      | $501308.00    | 0.22%             | 2028-04-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Stonepeak Nile Parent LLC                                                                  | ATSG 7 1/4 03/15/32    | CUSIP: 861932AA9<br>LEI: 254900TJV3VAFZD0GU41 | Long             | DBT              | CORP              | US        |    660000 | PA      | $695442.32    | 0.30%             | 2032-03-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                                                            | TDG 6 7/8 12/15/30     | CUSIP: 893647BS5<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1296308.03   | 0.56%             | 2030-12-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| VT Topco Inc.                                                                              | VERCOR 8 1/2 08/15/30  | CUSIP: 91838PAA9<br>LEI: 5493007T812R37X02Y38 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1018264.00   | 0.44%             | 2030-08-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Quikrete Holdings Inc                                                                      | QUIKHO 6 3/8 03/01/32  | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    660000 | PA      | $684240.57    | 0.29%             | 2032-03-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Avient Corporation                                                                         | AVNT 7 1/8 08/01/30    | CUSIP: 05368VAA4<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1799796.25   | 0.78%             | 2030-08-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| HUB International Ltd.                                                                     | HBGCN 7 1/4 06/15/30   | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1043341.00   | 0.45%             | 2030-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Weekley Homes LLC/Weekley Finance Corp.                                                    | WEEKHM 4 7/8 09/15/28  | CUSIP: 948565AD8<br>LEI: 5493009MTTQO8ZN53F13 | Long             | DBT              | CORP              | US        |   2023000 | PA      | $1982506.82   | 0.85%             | 2028-09-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| The Chemours Company LLC                                                                   | CC 4 5/8 11/15/29      | CUSIP: 163851AH1<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2260830.63   | 0.97%             | 2029-11-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                                                            | TDG 6 3/8 03/01/29     | CUSIP: 893647BU0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2047174.60   | 0.88%             | 2029-03-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Ciena Corporation                                                                          | CIEN 4 01/31/30        | CUSIP: 171779AL5<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | DBT              | CORP              | US        |    550000 | PA      | $525183.07    | 0.23%             | 2030-01-31      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| CQP Holdco LP & Bip-V Chinook Holdco LLC                                                   | BLKCQP 7 1/2 12/15/33  | CUSIP: 12657NAB6<br>LEI: 549300LPL012JY5D4B69 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2171600.00   | 0.94%             | 2033-12-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Bausch Plus Lomb Corp.                                                                     | BLCOCN 8 3/8 10/01/28  | CUSIP: 071705AA5<br>LEI: 549300NY6OZM39SO6475 | Long             | DBT              | CORP              | CA        |    750000 | PA      | $782578.13    | 0.34%             | 2028-10-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| MPT Operating Partnership LP / MPT Finance Corporation                                     | MPW 8 1/2 02/15/32     | CUSIP: 55342UAQ7<br>LEI: WUQXXXF7PXTUPGROE843 | Long             | DBT              | CORP              | US        |   1170000 | PA      | $1244180.19   | 0.54%             | 2032-02-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Ashton Woods (USA) LLC/Ashton Woods Finance Co.                                            | ASHWOO 6 7/8 08/01/33  | CUSIP: 045086AR6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1045000 | PA      | $1055052.66   | 0.45%             | 2033-08-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Ardagh Metal Packaging Finance PLC / Ardagh Metal Packaging Finance USA LLC                | AMPBEV 6 06/15/27      | CUSIP: 03969YAC2<br>LEI: 635400FSFRHBFVPTP424 | Long             | DBT              | CORP              | IE        |    875000 | PA      | $875559.48    | 0.38%             | 2027-06-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Permian Resources Operating, LLC                                                           | PR 5 7/8 07/01/29      | CUSIP: 19416MAB5<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1759542.75   | 0.76%             | 2029-07-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| OneMain Financial Corporation                                                              | OMF 6 1/8 05/15/30     | CUSIP: 682691AL4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1013381.81   | 0.44%             | 2030-05-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Jefferies Finance LLC/JFIN Co-Issuer Corp                                                  | JEFFIN 6 5/8 10/15/31  | CUSIP: 47232MAG7<br>LEI: 549300SKVB18YSSIDT75 | Long             | DBT              | CORP              | US        |   2170000 | PA      | $2184354.55   | 0.94%             | 2031-10-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Sonic Automotive, Inc.                                                                     | SAH 4 7/8 11/15/31     | CUSIP: 83545GBE1<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | DBT              | CORP              | US        |   2050000 | PA      | $1961700.35   | 0.84%             | 2031-11-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Enviri Corp.                                                                               | NVRI 5 3/4 07/31/27    | CUSIP: 415864AM9<br>LEI: KAO98FK89NPNNPQGUZ43 | Long             | DBT              | CORP              | US        |   5600000 | PA      | $5559361.36   | 2.39%             | 2027-07-31      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Wesco Distribution, Inc.                                                                   | WCC 6 5/8 03/15/32     | CUSIP: 95081QAR5<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |   1360000 | PA      | $1415039.61   | 0.61%             | 2032-03-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Freedom Mortgage Holdings LLC                                                              | FREMOR 8 3/8 04/01/32  | CUSIP: 35641AAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    330000 | PA      | $346163.40    | 0.15%             | 2032-04-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| The Chemours Company LLC                                                                   | CC 8 01/15/33          | CUSIP: 163851AJ7<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |   2565000 | PA      | $2552902.95   | 1.10%             | 2033-01-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Newmark Group Inc                                                                          | NMRK 7 1/2 01/12/29    | CUSIP: 65158NAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1073644.00   | 0.46%             | 2029-01-12      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Zebra Technologies Corporation                                                             | ZBRA 6 1/2 06/01/32    | CUSIP: 989207AD7<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1027977.00   | 0.44%             | 2032-06-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Goodyear Tire & Rubber Co. The                                                             | GT 5 5/8 04/30/33      | CUSIP: 382550BK6<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2330898.00   | 1.00%             | 2033-04-30      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Genesis Energy LP & Genesis Energy Finance Corp.                                           | GEL 8 7/8 04/15/30     | CUSIP: 37185LAN2<br>LEI: 549300VJ5D6MDK138782 | Long             | DBT              | CORP              | US        |    750000 | PA      | $794361.75    | 0.34%             | 2030-04-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Williams Scotsman Inc.                                                                     | WLSC 6 5/8 06/15/29    | CUSIP: 96949VAM5<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1023794.00   | 0.44%             | 2029-06-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Service Properties Trust                                                                   | SVC 5 1/2 12/15/27     | CUSIP: 81761LAB8<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    750000 | PA      | $736811.09    | 0.32%             | 2027-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CACI International Inc.                                                                    | CACI 6 3/8 06/15/33    | CUSIP: 127190AE6<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | DBT              | CORP              | US        |    995000 | PA      | $1028093.19   | 0.44%             | 2033-06-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Commercial Metals Company                                                                  | CMC 4 3/8 03/15/32     | CUSIP: 201723AR4<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1416719.07   | 0.61%             | 2032-03-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| INEOS Finance PLC                                                                          | INEGRP 7 1/2 04/15/29  | CUSIP: 44984WAJ6<br>LEI: 2138002D68XDR4LZCG32 | Long             | DBT              | CORP              | GB        |   1860000 | PA      | $1812095.51   | 0.78%             | 2029-04-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| TTM Technologies Inc                                                                       | TTMI 4 03/01/29        | CUSIP: 87305RAK5<br>LEI: 549300SC4BDOIS008048 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $962517.50    | 0.41%             | 2029-03-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Atlas Luxco 4 S A R L / Allied Universal Holdco Llc / Allied Universal Finance Corporation | UNSEAM 4 5/8 06/01/28  | CUSIP: 049362AA4<br>LEI: 549300ONXPZT3KQZDR65 | Long             | DBT              | CORP              | LU        |    125000 | PA      | $122660.48    | 0.05%             | 2028-06-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Upbound Group Inc                                                                          | UPBD 6 3/8 02/15/29    | CUSIP: 76009NAL4<br>LEI: 529900QUHE15UQNCCJ63 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3458904.75   | 1.49%             | 2029-02-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Ashton Woods (USA) LLC/Ashton Woods Finance Co.                                            | ASHWOO 4 5/8 04/01/30  | CUSIP: 045086AP0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $948266.00    | 0.41%             | 2030-04-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Sotera Health Holdings LLC                                                                 | STENOR 7 3/8 06/01/31  | CUSIP: 83600WAE9<br>LEI: 549300OVT7MBXFLOFU20 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2628170.00   | 1.13%             | 2031-06-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Trivium Packaging Finance BV                                                               | TRIVIU 12 1/4 01/15/31 | CUSIP: 89686QAC0<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $325021.50    | 0.14%             | 2031-01-15      | Fixed         | 12.25%                | Yes           |                  2 | On Loan: No      |
| Allied Universal Holdco LLC / Allied Universal Finance Corporation                         | UNSEAM 7 7/8 02/15/31  | CUSIP: 019576AD9<br>LEI: 98450038B4549046D794 | Long             | DBT              | CORP              | US        |   2310000 | PA      | $2424451.26   | 1.04%             | 2031-02-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Pennymac Financial Services Inc                                                            | PFSI 6 7/8 05/15/32    | CUSIP: 70932MAG2<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2073964.02   | 0.89%             | 2032-05-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Acrisure Llc / Acrisure Fin Inc                                                            | ACRISU 6 3/4 07/01/32  | CUSIP: 004961AA6<br>LEI: 549300R0Z1Q47XRTGO22 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1030504.00   | 0.44%             | 2032-07-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Dream Finders Homes Inc                                                                    | DFH 6 7/8 09/15/30     | CUSIP: 26154DAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    685000 | PA      | $689925.15    | 0.30%             | 2030-09-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| QXO Building Products Inc.                                                                 | QXO 6 3/4 04/30/32     | CUSIP: 74825NAA5<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1658075.62   | 0.71%             | 2032-04-30      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Burford Capital Global Finance LLC                                                         | BURLN 9 1/4 07/01/31   | CUSIP: 12116LAE9<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |   3710000 | PA      | $3946672.03   | 1.70%             | 2031-07-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Stl Holding Company Llc                                                                    | DSLDHM 8 3/4 02/15/29  | CUSIP: 861036AB7<br>LEI: 984500BC2I63E7F48656 | Long             | DBT              | CORP              | US        |    680000 | PA      | $714962.20    | 0.31%             | 2029-02-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Graphic Packaging International LLC                                                        | GPK 3 3/4 02/01/30     | CUSIP: 38869AAD9<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1169520.69   | 0.50%             | 2030-02-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Vistra Operations Co LLC                                                                   | VST 4 3/8 05/01/29     | CUSIP: 92840VAH5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    250000 | PA      | $244977.75    | 0.11%             | 2029-05-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Ardagh Metal Packaging Finance PLC / Ardagh Metal Packaging Finance USA LLC                | AMPBEV 4 09/01/29      | CUSIP: 03969YAB4<br>LEI: 635400FSFRHBFVPTP424 | Long             | DBT              | CORP              | IE        |   2500000 | PA      | $2315114.50   | 1.00%             | 2029-09-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Greystar Real Estate Partners LLC                                                          | GRSTAR 7 3/4 09/01/30  | CUSIP: 39807UAD8<br>LEI: 254900HGC806SXAS4M46 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1586332.50   | 0.68%             | 2030-09-01      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Arbor Realty Senior Incorporated                                                           | ABR 7 7/8 07/15/30     | CUSIP: 03881NAJ6<br>LEI: 549300TW7RTL2CI3CN08 | Long             | DBT              | CORP              | US        |    980000 | PA      | $1030820.00   | 0.44%             | 2030-07-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| KeHE Distributors, LLC / keHE Finance Corp.                                                | KEHEFO 9 02/15/29      | CUSIP: 487526AC9<br>LEI: 549300WQCH7SRQ8JKE47 | Long             | DBT              | CORP              | US        |   1280000 | PA      | $1348341.76   | 0.58%             | 2029-02-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| ILFC E-Capital Trust I                                                                     | AER Float 12/21/65     | CUSIP: 44965TAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2955000 | PA      | $2499555.90   | 1.08%             | 2065-12-21      | Floating      | 6.27%                 | Yes           |                  2 | On Loan: No      |
| W. R. Grace Holdings Llc                                                                   | GRA 7 3/8 03/01/31     | CUSIP: 92943GAE1<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1020317.00   | 0.44%             | 2031-03-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Tenet Healthcare Corporation                                                               | THC 6 1/8 10/01/28     | CUSIP: 88033GDK3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    750000 | PA      | $751268.49    | 0.32%             | 2028-10-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Co.                                                     | BWY 7 7/8 04/15/27     | CUSIP: 57763RAD9<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |   2550000 | PA      | $2578284.60   | 1.11%             | 2027-04-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Ken Garff Automotive Llc                                                                   | KENGAR 4 7/8 09/15/28  | CUSIP: 48850PAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1959970.80   | 0.84%             | 2028-09-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| PROG Holdings Inc.                                                                         | PRG 6 11/15/29         | CUSIP: 74319RAA9<br>LEI: 549300DHYTLBOVRXIG52 | Long             | DBT              | CORP              | US        |   3592000 | PA      | $3530630.68   | 1.52%             | 2029-11-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Adient Global Holdings Ltd                                                                 | ADNT 8 1/4 04/15/31    | CUSIP: 00687YAC9<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |   3500000 | PA      | $3673082.00   | 1.58%             | 2031-04-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Standard Building Solutions Inc.                                                           | BMCAUS 6 1/2 08/15/32  | CUSIP: 853191AA2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    335000 | PA      | $344127.52    | 0.15%             | 2032-08-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Waste Pro USA Inc                                                                          | WASPRO 7 02/01/33      | CUSIP: 94107JAC7<br>LEI: 549300BY1QXU5BI3UF28 | Long             | DBT              | CORP              | US        |   3225000 | PA      | $3348124.05   | 1.44%             | 2033-02-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Alpha Generation LLC                                                                       | ALPGEN 6 3/4 10/15/32  | CUSIP: 02073LAA9<br>LEI: 254900K5V62L4YGVKF49 | Long             | DBT              | CORP              | US        |   2910000 | PA      | $3008040.81   | 1.30%             | 2032-10-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| W. R. Grace Holdings Llc                                                                   | GRA 6 5/8 08/15/32     | CUSIP: 92943GAF8<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |    345000 | PA      | $341208.45    | 0.15%             | 2032-08-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Allied Universal Holdco LLC / Allied Universal Finance Corporation                         | UNSEAM 6 7/8 06/15/30  | CUSIP: 019576AF4<br>LEI: 98450038B4549046D794 | Long             | DBT              | CORP              | US        |   2325000 | PA      | $2391581.03   | 1.03%             | 2030-06-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| B&G Foods, Inc.                                                                            | BGS 8 09/15/28         | CUSIP: 05508WAC9<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | DBT              | CORP              | US        |   3255000 | PA      | $3157588.92   | 1.36%             | 2028-09-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Starwood Property Trust, Inc.                                                              | STWD 6 1/2 07/01/30    | CUSIP: 85571BBD6<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1035206.00   | 0.45%             | 2030-07-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| ESAB Corp.                                                                                 | ESAB 6 1/4 04/15/29    | CUSIP: 29605JAA4<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1028783.00   | 0.44%             | 2029-04-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Pediatrix Medical Group Inc                                                                | MD 5 3/8 02/15/30      | CUSIP: 58502BAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1740037.43   | 0.75%             | 2030-02-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| BWX Technologies Inc.                                                                      | BWXT 4 1/8 06/30/28    | CUSIP: 05605HAB6<br>LEI: 549300NP85N265KWMS58 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $977069.90    | 0.42%             | 2028-06-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Interface, Inc.                                                                            | TILE 5 1/2 12/01/28    | CUSIP: 458665AS5<br>LEI: 549300VXZWQOIDFPU355 | Long             | DBT              | CORP              | US        |   4042000 | PA      | $4038001.65   | 1.74%             | 2028-12-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Freedom Mortgage Holdings LLC                                                              | FREMOR 7 7/8 04/01/33  | CUSIP: 35641AAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1015000 | PA      | $1046558.38   | 0.45%             | 2033-04-01      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Ingles Markets, Incorporated                                                               | IMKTA 4 06/15/31       | CUSIP: 457030AK0<br>LEI: 549300XH5RYBMYP8TF26 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1175568.00   | 0.51%             | 2031-06-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Starwood Property Trust, Inc.                                                              | STWD 6 1/2 10/15/30    | CUSIP: 85571BBE4<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    655000 | PA      | $677858.80    | 0.29%             | 2030-10-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Fidelity Colchester Street Trust                                                           | FID-MM GOVT-I          | CUSIP: 316175108<br>LEI: 549300SHPEJB1OPRCV46 | Long             | STIV             | RF                | US        |  12958977 | PA      | $12958976.79  | 5.58%             |  |  |  | No            |                  1 | On Loan: No      |
| GFL Environmental Inc.                                                                     | GFLCN 6 3/4 01/15/31   | CUSIP: 36168QAQ7<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |   1500000 | PA      | $1571575.50   | 0.68%             | 2031-01-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Freedom Mortgage Holdings LLC                                                              | FREMOR 9 1/8 05/15/31  | CUSIP: 35641AAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2129412.00   | 0.92%             | 2031-05-15      | Fixed         | 9.12%                 | Yes           |                  2 | On Loan: No      |
| Wesco Distribution, Inc.                                                                   | WCC 6 3/8 03/15/29     | CUSIP: 95081QAQ7<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |   1360000 | PA      | $1401907.04   | 0.60%             | 2029-03-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Avient Corporation                                                                         | AVNT 6 1/4 11/01/31    | CUSIP: 05368VAB2<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | DBT              | CORP              | US        |   1145000 | PA      | $1163588.22   | 0.50%             | 2031-11-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Standard Building Solutions Inc.                                                           | BMCAUS 6 1/4 08/01/33  | CUSIP: 853191AC8<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    975000 | PA      | $988431.60    | 0.43%             | 2033-08-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| BWX Technologies Inc.                                                                      | BWXT 4 1/8 04/15/29    | CUSIP: 05605HAC4<br>LEI: 549300NP85N265KWMS58 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $969135.00    | 0.42%             | 2029-04-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Ladder Capital Finance Holdings LLLP/ Ladder Capital Finance Corp.                         | LADR 7 07/15/31        | CUSIP: 505742AR7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1048711.99   | 0.45%             | 2031-07-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| CQP Holdco LP & Bip-V Chinook Holdco LLC                                                   | BLKCQP 5 1/2 06/15/31  | CUSIP: 12657NAA8<br>LEI: 549300LPL012JY5D4B69 | Long             | DBT              | CORP              | US        |   2022000 | PA      | $2004539.02   | 0.86%             | 2031-06-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Genesis Energy LP & Genesis Energy Finance Corp.                                           | GEL 8 1/4 01/15/29     | CUSIP: 37185LAP7<br>LEI: 549300VJ5D6MDK138782 | Long             | DBT              | CORP              | US        |    600000 | PA      | $626344.80    | 0.27%             | 2029-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| ILFC E-Capital Trust II                                                                    | AER 6 1/4 12/21/65     | CUSIP: 44965UAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1717924.20   | 0.74%             | 2065-12-21      | Floating      | 6.52%                 | Yes           |                  2 | On Loan: No      |
| Service Properties Trust                                                                   | SVC 8 5/8 11/15/31     | CUSIP: 81761LAC6<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |   1375000 | PA      | $1465557.50   | 0.63%             | 2031-11-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| TMS International Corp                                                                     | TMS 6 1/4 04/15/29     | CUSIP: 87261QAC7<br>LEI: 549300L4K0F1YF8WKF23 | Long             | DBT              | CORP              | US        |   4004000 | PA      | $3886669.99   | 1.67%             | 2029-04-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Concentra Health Services Inc.                                                             | CONCEN 6 7/8 07/15/32  | CUSIP: 20600DAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1835000 | PA      | $1907999.97   | 0.82%             | 2032-07-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Champions Financing Inc.                                                                   | CRASHC 8 3/4 02/15/29  | CUSIP: 15870LAA6<br>LEI: 391200ZDD75EGEUJ7625 | Long             | DBT              | CORP              | US        |   1618000 | PA      | $1564142.77   | 0.67%             | 2029-02-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Energizer Holdings Inc                                                                     | ENR 6 09/15/33         | CUSIP: 29272WAG4<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |   3230000 | PA      | $3157296.61   | 1.36%             | 2033-09-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Baldwin Insurance Group Holdings LLC / Baldwin Insurance Group Holdings Finance Inc.       | BRP 7 1/8 05/15/31     | CUSIP: 05825XAA7<br>LEI: 5493004GCDREAQPPYG20 | Long             | DBT              | CORP              | US        |   1075000 | PA      | $1116944.52   | 0.48%             | 2031-05-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Cougar JV Subsidiary LLC                                                                   | HUDAUT 8 05/15/32      | CUSIP: 22208WAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1065000 | PA      | $1134089.02   | 0.49%             | 2032-05-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Clean Harbors, Inc.                                                                        | CLH 6 3/8 02/01/31     | CUSIP: 184496AQ0<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |   1625000 | PA      | $1665270.75   | 0.72%             | 2031-02-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Adient Global Holdings Ltd                                                                 | ADNT 7 1/2 02/15/33    | CUSIP: 00687YAD7<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |   2705000 | PA      | $2800688.64   | 1.21%             | 2033-02-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Global Partners LP / GLP Finance Corp.                                                     | GLP 8 1/4 01/15/32     | CUSIP: 37954FAK0<br>LEI: 549300PCHWTW9P4DU444 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3694216.75   | 1.59%             | 2032-01-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Goat Holdco LLC                                                                            | BARNES 6 3/4 02/01/32  | CUSIP: 38021MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1165000 | PA      | $1194585.18   | 0.51%             | 2032-02-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Insight Enterprises Inc.                                                                   | NSIT 6 5/8 05/15/32    | CUSIP: 45765UAC7<br>LEI: 529900S8991TYW6YP792 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1026489.00   | 0.44%             | 2032-05-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Mativ Holdings Inc                                                                         | MATV 8 10/01/29        | CUSIP: 808541AC0<br>LEI: 549300Z1FU4IDULG1R21 | Long             | DBT              | CORP              | US        |   5065000 | PA      | $5021069.23   | 2.16%             | 2029-10-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Kaiser Aluminium Corporation                                                               | KALU 4 1/2 06/01/31    | CUSIP: 483007AL4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1886779.20   | 0.81%             | 2031-06-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Ryan Specialty LLC                                                                         | RYASPE 5 7/8 08/01/32  | CUSIP: 78351GAA3<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1012344.97   | 0.44%             | 2032-08-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Aretec Escrow Issuer 2 Inc.                                                                | RCAP 10 08/15/30       | CUSIP: 04020JAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1908714.50   | 0.82%             | 2030-08-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Howard Hughes Holdings Inc.                                                                | HHH 4 3/8 02/01/31     | CUSIP: 44267DAF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2999000 | PA      | $2814072.57   | 1.21%             | 2031-02-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-28

**Name of Applicant:** TIMOTHY PLAN

**Signature:** Arthur D. Ally

**Name of Signer:** Arthur D. Ally

**Title:** President & Treasurer