# EDGAR Filing Document

**Accession Number:** 0001027596
**File Stem:** 0001145549-23-009796
**Filing Date:** 2023-2
**Character Count:** 159518
**Document Hash:** 4b54193e9717e1a7584ede80c7e0b154
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-009796.hdr.sgml**: 20230224

**ACCESSION NUMBER**: 0001145549-23-009796

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230224

**DATE AS OF CHANGE**: 20230224

**PERIOD START**: 20230930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ADVISORS SERIES TRUST
- **CENTRAL INDEX KEY:** 0001027596
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07959
- **FILM NUMBER:** 23665978

**BUSINESS ADDRESS:**
- **STREET 1:** U.S BANCORP FUND SERVICES, LLC
- **STREET 2:** 615 E MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 414-765-5340

**MAIL ADDRESS:**
- **STREET 1:** 615 E MICHIGAN STREET
- **STREET 2:** MK-WI-LC2
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

## Series and Classes Contracts Data

### Shenkman Capital Short Duration High Income Fund (Series ID: S000038872)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000119634 | Class A             | SCFAX           |
| C000119635 | Class C             | SCFCX           |
| C000119636 | Institutional Class | SCFIX           |
| C000126960 | Class F             | SCFFX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Shenkman Capital Short Duration High Income Fund** |  |  |
| **Schedule of Investments** |  |  |
| **December 31, 2022 (Unaudited)** |  |  |
|  | **Principal** | **Fair** |
|  | **Amount** | **Value** |
| **CORPORATE BONDS - 87.35% (e)** |  |  |
| **AEROSPACE & DEFENSE - 2.91%** |  |  |
| Howmet Aerospace, Inc. 5.125%, 10/01/2024 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5785000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5725415 |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 12/15/2025 (c) | 4503000 | 4577769 |
| &nbsp;&nbsp;&nbsp; 6.25%, 03/15/2026 (c) | 13029000 | 12877733 |
| &nbsp;&nbsp;&nbsp; 6.375%, 06/15/2026 | 10860000 | 10566259 |
| TransDigm UK Holdings PLC 6.875%, 05/15/2026 (b) | 5796000 | 5668857 |
| Triumph Group, Inc. 8.875%, 06/01/2024 (c) | 2703000 | 2754492 |
|  |  | 42170525 |
| **AUTO RETAIL - 0.41%** |  |  |
| Penske Automotive Group, Inc. 3.50%, 09/01/2025 | 6370000 | 5921773 |
| **AUTOMOTIVE - 6.18%** |  |  |
| Adient Global Holdings, Ltd. 4.875%, 08/15/2026 (b)(c) | 920000 | 857845 |
| American Axle & Manufacturing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 03/15/2026 | 3727000 | 3493703 |
| &nbsp;&nbsp;&nbsp; 6.50%, 04/01/2027 | 7872000 | 7114556 |
| Clarios Global, LP 6.75%, 05/15/2025 (b)(c) | 549000 | 550535 |
| Clarios Global, LP / Clarios U.S. Finance Co. |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 05/15/2026 (b)(c) | 8672000 | 8486322 |
| &nbsp;&nbsp;&nbsp; 8.50%, 05/15/2027 (b)(c) | 7209000 | 7079415 |
| Dana Financing Luxembourg SARL 5.75%, 04/15/2025 (b)(c) | 7085000 | 6941959 |
| Ford Motor Credit Co., LLC |  |  |
| &nbsp;&nbsp;&nbsp; 3.664%, 09/08/2024 | 1855000 | 1770869 |
| &nbsp;&nbsp;&nbsp; 5.125%, 06/16/2025 | 7695000 | 7411912 |
| &nbsp;&nbsp;&nbsp; 3.375%, 11/13/2025 | 8955000 | 8111285 |
| &nbsp;&nbsp;&nbsp; 2.70%, 08/10/2026 | 4195000 | 3648518 |
| &nbsp;&nbsp;&nbsp; 4.95%, 05/28/2027 | 2035000 | 1902257 |
| Goodyear Tire & Rubber Co. |  |  |
| &nbsp;&nbsp;&nbsp; 9.50%, 05/31/2025 | 4970000 | 5114986 |
| &nbsp;&nbsp;&nbsp; 5.00%, 05/31/2026 | 7622000 | 7200483 |
| IHO Verwaltungs GmbH 4.75% Cash or 6.00% PIK, 09/15/2026 (b)(c)(f) | 3135000 | 2717869 |
| Jaguar Land Rover Automotive PLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.625%, 02/01/2023 (b)(c) | 6275000 | 6235912 |
| &nbsp;&nbsp;&nbsp; 7.75%, 10/15/2025 (b)(c) | 5531000 | 5097259 |
| Patrick Industries, Inc. 7.50%, 10/15/2027 (c) | 2204000 | 2147883 |
| ZF North America Capital, Inc. 4.75%, 04/29/2025 (c) | 3790000 | 3572519 |
|  |  | 89456087 |
| **BUILDING PRODUCTS - 0.14%** |  |  |
| Summit Materials, LLC / Summit Materials Finance Corp. 6.50%, 03/15/2027 (c) | 2110000 | 2071368 |
| **CHEMICALS - 3.83%** |  |  |
| Avient Corp. 5.75%, 05/15/2025 (c) | 10801000 | 10549562 |
| Celanese U.S. Holdings, LLC 6.05%, 03/15/2025 | 4900000 | 4891132 |
| Consolidated Energy Finance SA 6.50%, 05/15/2026 (b)(c) | 890000 | 835380 |
| INEOS Quattro Finance 2 PLC 3.375%, 01/15/2026 (b)(c) | 2400000 | 2207988 |
| Methanex Corp. 4.25%, 12/01/2024 (b) | 4941000 | 4739239 |
| NOVA Chemicals Corp. 4.875%, 06/01/2024 (b)(c) | 13969000 | 13546931 |
| SCIL IV, LLC / SCIL, U.S.A. Holdings, LLC 5.375%, 11/01/2026 (c) | 2910000 | 2469863 |
| SPCM SA 3.125%, 03/15/2027 (b)(c) | 2617000 | 2253878 |
| Trinseo Materials Operating SCA / Trinseo Materials Finance, Inc. 5.375%, 09/01/2025 (b)(c) | 8156000 | 6721197 |
| W.R. Grace Holdings, LLC 5.625%, 10/01/2024 (c) | 7290000 | 7190783 |
|  |  | 55405953 |
| **COMMERCIAL SERVICES - 3.70%** |  |  |
| Allied Universal Holdco, LLC / Allied Universal Finance Corp. 6.625%, 07/15/2026 (c) | 5840000 | 5355630 |
| Aramark Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 04/01/2025 (c) | 2430000 | 2374928 |
| &nbsp;&nbsp;&nbsp; 6.375%, 05/01/2025 (c) | 24155000 | 23907170 |
| Brink's Co. 5.50%, 07/15/2025 (c) | 5365000 | 5276737 |
| Garda World Security Corp. 9.50%, 11/01/2027 (b)(c) | 3689000 | 3558414 |
| KAR Auction Services, Inc. 5.125%, 06/01/2025 (c) | 8035000 | 7862165 |
| Tempo Acquisition, LLC / Tempo Acquisition Finance Corp. 5.75%, 06/01/2025 (c) | 5142000 | 5159676 |
|  |  | 53494720 |
| **CONSTRUCTION & ENGINEERING - 0.46%** |  |  |
| Williams Scotsman International, Inc. 6.125%, 06/15/2025 (c) | 6649000 | 6592816 |
| **CONSUMER DISCRETIONARY - 0.47%** |  |  |
| Hanesbrands, Inc. 4.625%, 05/15/2024 (c) | 7040000 | 6829910 |
| **CONSUMER NON-DISCRETIONARY - 0.30%** |  |  |
| Spectrum Brands, Inc. 5.75%, 07/15/2025 | 4324000 | 4281492 |
| **ENVIRONMENTAL SERVICES - 1.98%** |  |  |
| Clean Harbors, Inc. 4.875%, 07/15/2027 (c) | 2495000 | 2368304 |
| GFL Environmental, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 06/01/2025 (b)(c) | 4263000 | 4078600 |
| &nbsp;&nbsp;&nbsp; 3.75%, 08/01/2025 (b)(c) | 5850000 | 5537464 |
| &nbsp;&nbsp;&nbsp; 5.125%, 12/15/2026 (b)(c) | 1055000 | 1010694 |
| Stericycle, Inc. 5.375%, 07/15/2024 (c) | 15956000 | 15662011 |
|  |  | 28657073 |
| **FINANCIALS - CONSUMER FINANCE - 2.69%** |  |  |
| Ally Financial, Inc. 5.75%, 11/20/2025 | 3710000 | 3598795 |
| goeasy, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 5.375%, 12/01/2024 (b)(c) | 5709000 | 5486634 |
| &nbsp;&nbsp;&nbsp; 4.375%, 05/01/2026 (b)(c) | 1945000 | 1724087 |
| Navient Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 09/25/2023 | 3506000 | 3514084 |
| &nbsp;&nbsp;&nbsp; 6.125%, 03/25/2024 | 10300000 | 10106867 |
| &nbsp;&nbsp;&nbsp; 5.875%, 10/25/2024 | 1000000 | 969300 |
| &nbsp;&nbsp;&nbsp; 6.75%, 06/25/2025 | 1755000 | 1687709 |
| OneMain Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 8.25%, 10/01/2023 | 3206000 | 3236339 |
| &nbsp;&nbsp;&nbsp; 6.125%, 03/15/2024 | 6050000 | 5867093 |
| &nbsp;&nbsp;&nbsp; 6.875%, 03/15/2025 | 1850000 | 1781374 |
| SLM Corp. 3.125%, 11/02/2026 | 1065000 | 907055 |
|  |  | 38879337 |
| **FINANCIALS - DIVERSIFIED - 0.81%** |  |  |
| AerCap Ireland Capital DAC / AerCap Global Aviation Trust 4.875%, 01/16/2024 (b) | 2634000 | 2609968 |
| Aircastle, Ltd. 5.25%, 08/11/2025 (b)(c) | 1080000 | 1040562 |
| Starwood Property Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 11/01/2023 (c) | 3043000 | 3021120 |
| &nbsp;&nbsp;&nbsp; 3.75%, 12/31/2024 (c) | 3121000 | 2934272 |
| &nbsp;&nbsp;&nbsp; 3.625%, 07/15/2026 (c) | 2395000 | 2098607 |
|  |  | 11704529 |
| **FINANCIALS - INSURANCE - 0.86%** |  |  |
| Acrisure, LLC / Acrisure Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 11/15/2025 (c) | 4269000 | 3929156 |
| &nbsp;&nbsp;&nbsp; 10.125%, 08/01/2026 (c) | 4271000 | 4160771 |
| HUB International, Ltd. 7.00%, 05/01/2026 (c) | 4490000 | 4404780 |
|  |  | 12494707 |
| **FINANCIALS - THRIFTS & MORTGAGES - 0.71%** |  |  |
| Nationstar Mortgage Holdings, Inc. 6.00%, 01/15/2027 (c) | 3940000 | 3532525 |
| PennyMac Financial Services, Inc. 5.375%, 10/15/2025 (c) | 3920000 | 3539659 |
| Rocket Mortgage, LLC / Rocket Mortgage Co-Issuer, Inc. 2.875%, 10/15/2026 (c) | 2272000 | 1960691 |
| United Wholesale Mortgage, LLC 5.50%, 11/15/2025 (c) | 1300000 | 1172704 |
|  |  | 10205579 |
| **FOOD & BEVERAGE - 0.75%** |  |  |
| B&G Foods, Inc. 5.25%, 04/01/2025 | 8804000 | 7733369 |
| Post Holdings, Inc. 5.75%, 03/01/2027 (c) | 3240000 | 3138070 |
|  |  | 10871439 |
| **HEALTHCARE - EQUIPMENT & SUPPLIES - 0.26%** |  |  |
| Owens & Minor, Inc. 4.375%, 12/15/2024 | 3870000 | 3746757 |
| **HEALTHCARE - FACILITIES - 5.14%** |  |  |
| Global Medical Response, Inc. 6.50%, 10/01/2025 (c) | 4145000 | 2973167 |
| HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.50%, 12/15/2023 | 2505000 | 2547315 |
| &nbsp;&nbsp;&nbsp; 8.36%, 04/15/2024 | 3846000 | 3959709 |
| &nbsp;&nbsp;&nbsp; 5.375%, 02/01/2025 | 1805000 | 1805643 |
| &nbsp;&nbsp;&nbsp; 7.69%, 06/15/2025 | 658000 | 690864 |
| &nbsp;&nbsp;&nbsp; 7.58%, 09/15/2025 | 2251000 | 2336576 |
| Legacy LifePoint Health, LLC |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 04/15/2025 (c) | 8119000 | 7653537 |
| &nbsp;&nbsp;&nbsp; 4.375%, 02/15/2027 (c) | 655000 | 555047 |
| ModivCare, Inc. 5.875%, 11/15/2025 (c) | 3520000 | 3310970 |
| RegionalCare Hospital Partners Holdings, Inc. / LifePoint Health, Inc. 9.75%, 12/01/2026 (c) | 17273000 | 13936893 |
| RP Escrow Issuer, LLC 5.25%, 12/15/2025 (c) | 6835000 | 5228095 |
| Surgery Center Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 07/01/2025 (c) | 5013000 | 4955344 |
| &nbsp;&nbsp;&nbsp; 10.00%, 04/15/2027 (c) | 2907000 | 2962466 |
| Tenet Healthcare Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.625%, 07/15/2024 | 656000 | 640726 |
| &nbsp;&nbsp;&nbsp; 4.625%, 09/01/2024 (c) | 13849000 | 13471159 |
| &nbsp;&nbsp;&nbsp; 6.25%, 02/01/2027 (c) | 7621000 | 7292837 |
|  |  | 74320348 |
| **HEALTHCARE - LIFE SCIENCES - 0.61%** |  |  |
| Catalent Pharma Solutions, Inc. 5.00%, 07/15/2027 (c) | 1290000 | 1202175 |
| IQVIA, Inc. 5.00%, 10/15/2026 (c) | 7917000 | 7575618 |
|  |  | 8777793 |
| **HEALTHCARE - MANAGED HEALTH CARE - 1.77%** |  |  |
| Verscend Escrow Corp. 9.75%, 08/15/2026 (c) | 26134000 | 25659929 |
| **HEALTHCARE - PHARMACEUTICALS & BIOTECHNOLOGY - 1.41%** |  |  |
| Bausch Health Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 11/01/2025 (b)(c) | 3085000 | 2627114 |
| &nbsp;&nbsp;&nbsp; 9.00%, 12/15/2025 (b)(c) | 6470000 | 5149538 |
| Teva Pharmaceutical Finance Netherlands III B.V. |  |  |
| &nbsp;&nbsp;&nbsp; 2.80%, 07/21/2023 (b) | 1670000 | 1635815 |
| &nbsp;&nbsp;&nbsp; 6.00%, 04/15/2024 (b) | 8740000 | 8583885 |
| &nbsp;&nbsp;&nbsp; 7.125%, 01/31/2025 (b) | 2400000 | 2390448 |
|  |  | 20386800 |
| **HEALTHCARE - REITs - 0.72%** |  |  |
| MPT Operating Partnership, LP / MPT Finance Corp. 5.25%, 08/01/2026 | 11378000 | 10381344 |
| **INDUSTRIAL MACHINERY - 1.67%** |  |  |
| EnPro Industries, Inc. 5.75%, 10/15/2026 | 6489000 | 6324828 |
| Hillenbrand, Inc. 5.75%, 06/15/2025 | 2105000 | 2098390 |
| WESCO Distribution, Inc. 7.125%, 06/15/2025 (c) | 15584000 | 15813153 |
|  |  | 24236371 |
| **LEISURE - CASINOS & GAMING - 7.48%** |  |  |
| Caesars Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 07/01/2025 (c) | 23629000 | 23029732 |
| &nbsp;&nbsp;&nbsp; 8.125%, 07/01/2027 (c) | 3480000 | 3426443 |
| Caesars Resort Collection, LLC / CRC Finco, Inc. 5.75%, 07/01/2025 (c) | 5900000 | 5784160 |
| International Game Technology PLC |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 02/15/2025 (b)(c) | 6257000 | 6305304 |
| &nbsp;&nbsp;&nbsp; 4.125%, 04/15/2026 (b)(c) | 4525000 | 4226144 |
| &nbsp;&nbsp;&nbsp; 6.25%, 01/15/2027 (b)(c) | 1400000 | 1391782 |
| MGM Resorts International |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 03/15/2023 | 5158000 | 5150804 |
| &nbsp;&nbsp;&nbsp; 6.75%, 05/01/2025 | 19200000 | 19329197 |
| &nbsp;&nbsp;&nbsp; 5.75%, 06/15/2025 | 5285000 | 5143714 |
| Scientific Games International, Inc. 8.625%, 07/01/2025 (c) | 14203000 | 14514358 |
| VICI Properties, LP / VICI Note Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.625%, 05/01/2024 (c) | 7810000 | 7768063 |
| &nbsp;&nbsp;&nbsp; 3.50%, 02/15/2025 (c) | 1865000 | 1761418 |
| &nbsp;&nbsp;&nbsp; 4.625%, 06/15/2025 (c) | 5805000 | 5573090 |
| &nbsp;&nbsp;&nbsp; 4.25%, 12/01/2026 (c) | 5240000 | 4891674 |
|  |  | 108295883 |
| **LEISURE - HOTELS - 6.40%** |  |  |
| Cedar Fair, LP / Canada's Wonderland Co. / Magnum Management Corp. / Millennium Op 5.50%, 05/01/2025 (c) | 11931000 | 11782091 |
| NCL Corp., Ltd. 5.875%, 02/15/2027 (b)(c) | 1000000 | 867455 |
| Park Intermediate Holdings, LLC / PK Domestic Property, LLC / PK Finance Co-Issuer 7.50%, 06/01/2025 (c) | 8980000 | 8988800 |
| RLJ Lodging Trust, LP 3.75%, 07/01/2026 (c) | 6307000 | 5619006 |
| Royal Caribbean Cruises, Ltd. 11.50%, 06/01/2025 (b)(c) | 8361000 | 8985567 |
| Service Properties Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 06/15/2023 | 7805000 | 7682242 |
| &nbsp;&nbsp;&nbsp; 4.65%, 03/15/2024 | 1230000 | 1176743 |
| &nbsp;&nbsp;&nbsp; 4.35%, 10/01/2024 | 6495000 | 5914682 |
| &nbsp;&nbsp;&nbsp; 7.50%, 09/15/2025 | 3820000 | 3644951 |
| Six Flags Entertainment Corp. 4.875%, 07/31/2024 (c) | 3940000 | 3799638 |
| Six Flags Theme Parks, Inc. 7.00%, 07/01/2025 (c) | 4865000 | 4909922 |
| Travel + Leisure Co. |  |  |
| &nbsp;&nbsp;&nbsp; 3.90%, 03/01/2023 | 1715000 | 1707876 |
| &nbsp;&nbsp;&nbsp; 6.60%, 10/01/2025 (h) | 3498000 | 3452760 |
| &nbsp;&nbsp;&nbsp; 6.625%, 07/31/2026 (c) | 1540000 | 1509172 |
| TripAdvisor, Inc. 7.00%, 07/15/2025 (c) | 12192000 | 12065324 |
| Vail Resorts, Inc. 6.25%, 05/15/2025 (c) | 10459000 | 10476997 |
|  |  | 92583226 |
| **LEISURE - RESTAURANTS - 0.86%** |  |  |
| 1011778 B.C., ULC / New Red Finance, Inc. 5.75%, 04/15/2025 (b)(c) | 4685000 | 4656507 |
| IRB Holding Corp. 7.00%, 06/15/2025 (c) | 7830000 | 7822562 |
|  |  | 12479069 |
| **MEDIA - BROADCASTING - 4.15%** |  |  |
| AMC Networks, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 04/01/2024 | 3007000 | 2816808 |
| &nbsp;&nbsp;&nbsp; 4.75%, 08/01/2025 | 10479000 | 7982378 |
| Graham Holdings Co. 5.75%, 06/01/2026 (c) | 3645000 | 3586990 |
| Gray Television, Inc. 5.875%, 07/15/2026 (c) | 9730000 | 8684025 |
| Sirius XM Radio, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.125%, 09/01/2026 (c) | 4478000 | 3981770 |
| &nbsp;&nbsp;&nbsp; 5.00%, 08/01/2027 (c) | 6831000 | 6329990 |
| TEGNA, Inc. 4.75%, 03/15/2026 (c) | 3590000 | 3487238 |
| Univision Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.125%, 02/15/2025 (c) | 16973000 | 16199374 |
| &nbsp;&nbsp;&nbsp; 6.625%, 06/01/2027 (c) | 7180000 | 6942593 |
|  |  | 60011166 |
| **MEDIA - CABLE & SATELLITE - 3.91%** |  |  |
| CCO Holdings, LLC / CCO Holdings Capital Corp. 5.50%, 05/01/2026 (c) | 15721000 | 15242327 |
| Connect Finco SARL / Connect U.S. Finco, LLC 6.75%, 10/01/2026 (b)(c) | 2500000 | 2322049 |
| CSC Holdings, LLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 06/01/2024 | 7794000 | 7267905 |
| &nbsp;&nbsp;&nbsp; 5.50%, 04/15/2027 (c) | 7117000 | 5985585 |
| DIRECTV Financing, LLC / DIRECTV Financing Co-Obligor, Inc. 5.875%, 08/15/2027 (c) | 3874000 | 3473273 |
| DISH DBS Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.875%, 11/15/2024 | 3955000 | 3683267 |
| &nbsp;&nbsp;&nbsp; 5.25%, 12/01/2026 (c) | 4237000 | 3576918 |
| Hughes Satellite Systems Corp. 6.625%, 08/01/2026 | 3425000 | 3200628 |
| Maxar Technologies, Inc. 7.75%, 06/15/2027 (c) | 1690000 | 1756523 |
| Viasat, Inc. 5.625%, 09/15/2025 (c) | 7159000 | 6653343 |
| Videotron, Ltd. 5.375%, 06/15/2024 (b)(c) | 3510000 | 3471846 |
|  |  | 56633664 |
| **MEDIA - DIVERSIFIED - 0.49%** |  |  |
| Match Group Holdings II, LLC 5.00%, 12/15/2027 (c) | 2045000 | 1884918 |
| Outfront Media Capital, LLC / Outfront Media Capital Corp. 6.25%, 06/15/2025 (c) | 5200000 | 5159681 |
|  |  | 7044599 |
| **MEDIA - ENTERTAINMENT - 1.28%** |  |  |
| Live Nation Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.875%, 11/01/2024 (c) | 9332000 | 9050121 |
| &nbsp;&nbsp;&nbsp; 5.625%, 03/15/2026 (c) | 9423000 | 8925829 |
| &nbsp;&nbsp;&nbsp; 6.50%, 05/15/2027 (c) | 500000 | 490646 |
|  |  | 18466596 |
| **METALS & MINING - 0.72%** |  |  |
| FMG Resources August 2006 Pty, Ltd. 5.125%, 05/15/2024 (b)(c) | 10656000 | 10491282 |
| **MIDSTREAM - STORAGE & TRANSPORT - 2.08%** |  |  |
| Antero Midstream Partners, LP / Antero Midstream Finance Corp. 7.875%, 05/15/2026 (c) | 3810000 | 3862131 |
| Buckeye Partners, LP |  |  |
| &nbsp;&nbsp;&nbsp; 4.15%, 07/01/2023 | 3537000 | 3480434 |
| &nbsp;&nbsp;&nbsp; 4.35%, 10/15/2024 | 3460000 | 3348064 |
| &nbsp;&nbsp;&nbsp; 4.125%, 03/01/2025 (c) | 4616000 | 4405680 |
| Crestwood Midstream Partners, LP / Crestwood Midstream Finance Corp. 5.75%, 04/01/2025 | 2505000 | 2441173 |
| DCP Midstream Operating, LP 3.875%, 03/15/2023 | 850000 | 846558 |
| EQM Midstream Partners, LP |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 07/01/2025 (c) | 714000 | 690235 |
| &nbsp;&nbsp;&nbsp; 7.50%, 06/01/2027 (c) | 1805000 | 1769956 |
| NGL Energy Operating, LLC / NGL Energy Finance Corp. 7.50%, 02/01/2026 (c) | 1150000 | 1024426 |
| NuStar Logistics, LP 5.75%, 10/01/2025 | 3385000 | 3264371 |
| Sunoco, LP / Sunoco Finance Corp. 6.00%, 04/15/2027 | 2341000 | 2309206 |
| Tallgrass Energy Partners, LP / Tallgrass Energy Finance Corp. 7.50%, 10/01/2025 (c) | 2630000 | 2657812 |
|  |  | 30100046 |
| **PACKAGING - 3.17%** |  |  |
| ARD Finance SA 6.50%, 06/30/2027 (b)(c) | 1321210 | 921767 |
| Ardagh Packaging Finance PLC / Ardagh Holdings U.S.A., Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 04/30/2025 (b)(c) | 10953000 | 10448141 |
| &nbsp;&nbsp;&nbsp; 4.125%, 08/15/2026 (b)(c) | 5365000 | 4658341 |
| Ball Corp. 5.25%, 07/01/2025 | 3480000 | 3439532 |
| Berry Global, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 02/15/2026 (c) | 1500000 | 1435571 |
| &nbsp;&nbsp;&nbsp; 4.875%, 07/15/2026 (c) | 6151000 | 5927487 |
| CANPACK SA / CANPACK U.S., LLC 3.125%, 11/01/2025 (b)(c) | 2869000 | 2524864 |
| Graphic Packaging International, LLC 4.125%, 08/15/2024 | 2960000 | 2912714 |
| LABL, Inc. 6.75%, 07/15/2026 (c) | 4138000 | 3924323 |
| Mauser Packaging Solutions Holding Co. |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 04/15/2024 (c) | 3302000 | 3217119 |
| &nbsp;&nbsp;&nbsp; 7.25%, 04/15/2025 (c) | 2100000 | 1946083 |
| Sealed Air Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.125%, 12/01/2024 (c) | 4359000 | 4290215 |
| &nbsp;&nbsp;&nbsp; 5.50%, 09/15/2025 (c) | 205000 | 202439 |
|  |  | 45848596 |
| **REAL ESTATE - HOMEBUILDING - 0.42%** |  |  |
| Taylor Morrison Communities, Inc. / Taylor Morrison Holdings II, Inc. 5.625%, 03/01/2024 (c) | 3455000 | 3445153 |
| TRI Pointe Group, Inc. / TRI Pointe Homes, Inc. 5.875%, 06/15/2024 | 2670000 | 2649208 |
|  |  | 6094361 |
| **REAL ESTATE - MANAGEMENT - 0.69%** |  |  |
| Greystar Real Estate Partners, LLC 5.75%, 12/01/2025 (c) | 3880000 | 3798413 |
| Newmark Group, Inc. 6.125%, 11/15/2023 | 6268000 | 6218748 |
|  |  | 10017161 |
| **RETAIL - FOOD & DRUG - 2.47%** |  |  |
| Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons, LP / Albertsons, LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.25%, 03/15/2026 (c) | 3565000 | 3257090 |
| &nbsp;&nbsp;&nbsp; 7.50%, 03/15/2026 (c) | 13234000 | 13535336 |
| U.S. Foods, Inc. 6.25%, 04/15/2025 (c) | 19168000 | 18998614 |
|  |  | 35791040 |
| **RETAILING - 0.33%** |  |  |
| Bath & Body Works, Inc. 9.375%, 07/01/2025 (c) | 3552000 | 3798651 |
| QVC, Inc. 4.45%, 02/15/2025 | 1252000 | 1024136 |
|  |  | 4822787 |
| **TECHNOLOGY - SOFTWARE & SERVICES - 4.45%** |  |  |
| Block, Inc. 2.75%, 06/01/2026 | 1790000 | 1601370 |
| Boxer Parent Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.125%, 10/02/2025 (c) | 15453000 | 15052636 |
| &nbsp;&nbsp;&nbsp; 9.125%, 03/01/2026 (c) | 2982000 | 2817975 |
| Consensus Cloud Solutions, Inc. 6.00%, 10/15/2026 (c) | 4975000 | 4674041 |
| Gen Digital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 04/15/2025 (c) | 18275000 | 17817573 |
| &nbsp;&nbsp;&nbsp; 6.75%, 09/30/2027 (c) | 2957000 | 2901704 |
| Go Daddy Operating Co., LLC / GD Finance Co., Inc. 5.25%, 12/01/2027 (c) | 1430000 | 1355897 |
| Open Text Corp. 6.90%, 12/01/2027 (b)(c) | 4485000 | 4490830 |
| PTC, Inc. 3.625%, 02/15/2025 (c) | 2845000 | 2709814 |
| Sabre GLBL, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 9.25%, 04/15/2025 (c) | 6405000 | 6391402 |
| &nbsp;&nbsp;&nbsp; 7.375%, 09/01/2025 (c) | 933000 | 893103 |
| &nbsp;&nbsp;&nbsp; 11.25%, 12/15/2027 (c) | 1000000 | 1030005 |
| Shift4 Payments, LLC / Shift4 Payments Finance Sub, Inc. 4.625%, 11/01/2026 (c) | 2851000 | 2698243 |
|  |  | 64434593 |
| **TECHNOLOGY HARDWARE - 1.48%** |  |  |
| CDW, LLC / CDW Finance Corp. 4.125%, 05/01/2025 | 3945000 | 3837696 |
| NCR Corp. 5.75%, 09/01/2027 (c) | 6805000 | 6522420 |
| Presidio Holdings, Inc. 8.25%, 02/01/2028 (c) | 2000000 | 1857320 |
| Seagate HDD Cayman |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 06/01/2023 (b) | 1631000 | 1624672 |
| &nbsp;&nbsp;&nbsp; 4.875%, 03/01/2024 (b) | 1225000 | 1202851 |
| Sensata Technologies B.V. 5.625%, 11/01/2024 (b)(c) | 4445000 | 4436513 |
| Western Digital Corp. 4.75%, 02/15/2026 | 2070000 | 1953873 |
|  |  | 21435345 |
| **TELECOMMUNICATION SERVICES - DIVERSIFIED - 2.28%** |  |  |
| Altice France SA 8.125%, 02/01/2027 (b)(c) | 13623000 | 12436982 |
| Cogent Communications Group, Inc. 3.50%, 05/01/2026 (c) | 3105000 | 2824580 |
| Iliad Holding SASU 6.50%, 10/15/2026 (b)(c) | 4903000 | 4555788 |
| Level 3 Financing, Inc. 3.40%, 03/01/2027 (c) | 2726000 | 2312648 |
| Lumen Technologies, Inc. 4.00%, 02/15/2027 (c) | 1720000 | 1461454 |
| Northwest Fiber, LLC / Northwest Fiber Finance Sub, Inc. 4.75%, 04/30/2027 (c) | 3155000 | 2779910 |
| Uniti Group, LP / Uniti Fiber Holdings, Inc. / CSL Capital, LLC 7.875%, 02/15/2025 (c) | 6790000 | 6586907 |
|  |  | 32958269 |
| **TELECOMMUNICATION SERVICES - WIRELESS - 1.30%** |  |  |
| Sprint, LLC |  |  |
| &nbsp;&nbsp;&nbsp; 7.875%, 09/15/2023 | 9233000 | 9383544 |
| &nbsp;&nbsp;&nbsp; 7.125%, 06/15/2024 | 8505000 | 8694032 |
| &nbsp;&nbsp;&nbsp; 7.625%, 03/01/2026 | 660000 | 695892 |
|  |  | 18773468 |
| **TRANSPORTATION - 1.69%** |  |  |
| Uber Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.50%, 05/15/2025 (c) | 6705000 | 6711559 |
| &nbsp;&nbsp;&nbsp; 8.00%, 11/01/2026 (c) | 13705000 | 13779990 |
| &nbsp;&nbsp;&nbsp; 7.50%, 09/15/2027 (c) | 1690000 | 1692907 |
| XPO Escrow Sub, LLC 7.50%, 11/15/2027 (c) | 2310000 | 2340538 |
|  |  | 24524994 |
| **UTILITIES - POWER - 2.66%** |  |  |
| Calpine Corp. 5.25%, 06/01/2026 (c) | 5458000 | 5207765 |
| NextEra Energy Operating Partners, LP |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 07/15/2024 (c) | 8158000 | 7926584 |
| &nbsp;&nbsp;&nbsp; 4.25%, 09/15/2024 (c) | 72000 | 67311 |
| NRG Energy, Inc. 6.625%, 01/15/2027 | 5815000 | 5775342 |
| Vistra Operations Co., LLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 09/01/2026 (c) | 6639000 | 6407488 |
| &nbsp;&nbsp;&nbsp; 5.625%, 02/15/2027 (c) | 10641000 | 10130060 |
| &nbsp;&nbsp;&nbsp; 5.00%, 07/31/2027 (c) | 3240000 | 3006393 |
|  |  | 38520943 |
| **UTILITIES - PROPANE - 1.26%** |  |  |
| AmeriGas Partners, LP / AmeriGas Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.625%, 05/20/2024 | 12986000 | 12625371 |
| &nbsp;&nbsp;&nbsp; 5.50%, 05/20/2025 | 645000 | 619898 |
| &nbsp;&nbsp;&nbsp; 5.875%, 08/20/2026 | 2300000 | 2187897 |
| Ferrellgas, LP / Ferrellgas Finance Corp. 5.375%, 04/01/2026 (c) | 3059000 | 2786434 |
|  |  | 18219600 |
| TOTAL CORPORATE BONDS (Cost $1,330,089,330) |  | 1264093338 |
| **BANK LOANS - 7.35%** |  |  |
| **AEROSPACE & DEFENSE - 0.18%** |  |  |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Senior Secured First Lien Term Loan 6.98% (3 Month LIBOR USD + 2.25%), 05/30/2025 (a) | 855000 | 847327 |
| &nbsp;&nbsp;&nbsp; Senior Secured First Lien Term Loan 6.98% (3 Month LIBOR USD + 2.25%), 12/09/2025 (a) | 1742508 | 1724647 |
|  |  | 2571974 |
| **AUTOMOTIVE - 0.52%** |  |  |
| Clarios Global, LP, Senior Secured First Lien Term Loan 7.634% (1 Month LIBOR USD + 3.25%), 04/30/2026 (a) | 3825000 | 3761257 |
| Thor Industries, Inc., Senior Secured First Lien Term Loan 7.438% (1 Month LIBOR USD + 3.00%), 02/02/2026 (a) | 3813803 | 3803086 |
|  |  | 7564343 |
| **COMMERCIAL SERVICES - 0.55%** |  |  |
| Camelot U.S. Acquisition 1 Co. |  |  |
| &nbsp;&nbsp;&nbsp; Senior Secured First Lien Term Loan 7.384% (1 Month LIBOR USD + 3.00%), 10/30/2026 (a) | 801475 | 789954 |
| &nbsp;&nbsp;&nbsp; Senior Secured First Lien Term Loan 7.384% (1 Month LIBOR USD + 3.00%, 1.000% Floor), 10/30/2026 (a) | 4162470 | 4105236 |
| Dun & Bradstreet Corp., Senior Secured First Lien Term Loan 7.639% (1 Month LIBOR USD + 3.25%), 02/06/2026 (a) | 2877454 | 2856132 |
| Tempo Acquisition, LLC, Senior Secured First Lien Term Loan 7.134% (1 Month LIBOR USD + 2.75%), 05/01/2024 (a) | 168629 | 168460 |
|  |  | 7919782 |
| **CONSTRUCTION & ENGINEERING - 0.15%** |  |  |
| Api Group DE, Inc., Senior Secured First Lien Term Loan 6.571% (1 Month LIBOR USD + 2.50%), 10/01/2026 (a) | 2215146 | 2203605 |
| **FINANCIALS - INSURANCE - 1.03%** |  |  |
| Asurion, LLC |  |  |
| &nbsp;&nbsp;&nbsp; Senior Secured First Lien Term Loan 7.384% (1 Month LIBOR USD + 3.00%), 11/04/2024 (a) | 5295180 | 5156181 |
| &nbsp;&nbsp;&nbsp; Senior Secured Second Lien Term Loan 9.634% (1 Month LIBOR USD + 5.25%), 01/19/2029 (a) | 1055000 | 826292 |
| HUB International, Ltd., Senior Secured First Lien Term Loan 7.528% (3 Month LIBOR USD + 3.25%, 0.750% Floor), 04/25/2025 (a) | 8611481 | 8545905 |
| NFP Corp., Senior Secured First Lien Term Loan 7.321%, 02/04/2027 (a)(g) | 433885 | 416065 |
|  |  | 14944443 |
| **HEALTHCARE - FACILITIES - 0.16%** |  |  |
| Surgery Center Holdings, Inc., Senior Secured First Lien Term Loan 8.05% (1 Month LIBOR USD + 3.75%, 0.750% Floor), 09/03/2026 (a) | 2328775 | 2305231 |
| **HEALTHCARE - MANAGED HEALTH CARE - 0.29%** |  |  |
| Verscend Holding Corp., Senior Secured First Lien Term Loan 8.384% (1 Month LIBOR USD + 4.00%), 08/27/2025 (a) | 4173984 | 4155723 |
| **LEISURE - CASINOS & GAMING - 0.46%** |  |  |
| Caesars Resort Collection |  |  |
| &nbsp;&nbsp;&nbsp; Senior Secured First Lien Term Loan 7.134% (1 Month LIBOR USD + 2.75%), 12/23/2024 (a) | 2465420 | 2463053 |
| &nbsp;&nbsp;&nbsp; Senior Secured First Lien Term Loan 7.884% (1 Month LIBOR USD + 3.50%), 07/21/2025 (a) | 4211135 | 4206102 |
|  |  | 6669155 |
| **LEISURE - RESTAURANTS - 0.77%** |  |  |
| IRB Holding Corp., Senior Secured First Lien Term Loan 7.134% (1 Month LIBOR USD + 2.75%, 1.000% Floor), 02/05/2025 (a) | 11236972 | 11154437 |
| **MEDIA - BROADCASTING - 0.01%** |  |  |
| Univision Communications, Inc., Senior Secured First Lien Term Loan 7.134% (1 Month LIBOR USD + 2.75%, 1.000% Floor), 03/15/2024 (a) | 179395 | 179433 |
| **MEDIA - CABLE & SATELLITE - 0.34%** |  |  |
| CSC Holdings, LLC, Senior Secured First Lien Term Loan 6.568% (1 Month LIBOR USD + 2.25%), 07/17/2025 (a) | 1728304 | 1639297 |
| DIRECTV Financing, LLC, Senior Secured First Lien Term Loan 9.384% (1 Month LIBOR USD + 5.00%, 0.750% Floor), 08/02/2027 (a) | 693420 | 676591 |
| Maxar Technologies, Ltd., Senior Secured First Lien Term Loan 8.673% (1 Month SOFR USD + 4.25%, 0.500% Floor), 06/14/2029 (a) | 2544959 | 2546091 |
|  |  | 4861979 |
| **MEDIA - DIVERSIFIED - 0.18%** |  |  |
| Red Ventures, LLC, Senior Secured First Lien Term Loan 6.884% (1 Month LIBOR USD + 2.50%), 11/08/2024 (a) | 2667371 | 2655287 |
| **MEDIA - ENTERTAINMENT - 0.56%** |  |  |
| UFC Holdings, LLC, Senior Secured First Lien Term Loan 7.11% (3 Month LIBOR USD + 2.75%, 0.750% Floor), 04/29/2026 (a) | 1110563 | 1098069 |
| William Morris Endeavor Entertainment, LLC |  |  |
| &nbsp;&nbsp;&nbsp; Senior Secured First Lien Term Loan 6.83% (1 Month LIBOR USD + 2.75%), 05/16/2025 (a) | 6690401 | 6563283 |
| &nbsp;&nbsp;&nbsp; Senior Secured First Lien Term Loan 7.14% (1 Month LIBOR USD + 2.75%), 05/16/2025 (a) | 385012 | 377697 |
|  |  | 8039049 |
| **PACKAGING - 0.20%** |  |  |
| Mauser Packaging Solutions Holding Co., Senior Secured First Lien Term Loan 7.37% (1 Month LIBOR USD + 3.25%), 04/03/2024 (a) | 3006634 | 2941495 |
| **TECHNOLOGY - SOFTWARE & SERVICES - 1.58%** |  |  |
| Almonde, Inc., Senior Secured First Lien Term Loan 6.871% (6 Month LIBOR USD + 3.50%, 1.000% Floor), 06/13/2024 (a) | 1728795 | 1533580 |
| Boxer Parent Co., Inc., Senior Secured First Lien Term Loan 8.134% (1 Month LIBOR USD + 3.75%), 10/02/2025 (a) | 4043040 | 3880409 |
| Open Text Corp., Senior Secured First Lien Term Loan 5.504%, 05/30/2025 (a)(g) | 2842539 | 2788062 |
| Optiv Security, Inc., Senior Secured First Lien Term Loan 7.42% (6 Month LIBOR USD + 3.25%, 1.000% Floor), 02/01/2024 (a) | 6077342 | 5827927 |
| Project Alpha Intermediate Holding, Inc., Senior Secured First Lien Term Loan 8.39% (1 Month LIBOR USD + 4.00%), 04/26/2024 (a) | 9007646 | 8809478 |
|  |  | 22839456 |
| **TECHNOLOGY HARDWARE - 0.07%** |  |  |
| Presidio Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Senior Secured First Lien Term Loan 7.89% (1 Month LIBOR USD + 3.50%), 01/22/2027 (a) | 41771 | 41184 |
| &nbsp;&nbsp;&nbsp; Senior Secured First Lien Term Loan 7.92% (3 Month LIBOR USD + 3.50%), 01/22/2027 (a) | 1002518 | 988423 |
|  |  | 1029607 |
| **TRANSPORTATION - 0.30%** |  |  |
| AAdvantage Loyalty IP, Ltd., Senior Secured First Lien Term Loan 8.993%, 04/20/2028 (a)(g) | 853252 | 850987 |
| Kenan Advantage Group, Inc., Senior Secured First Lien Term Loan 8.134% (1 Month LIBOR USD + 3.75%, 0.750% Floor), 03/24/2026 (a) | 990933 | 968458 |
| XPO Logistics, Inc., Senior Secured First Lien Term Loan 5.935% (1 Month LIBOR USD + 1.75%), 02/24/2025 (a) | 2570000 | 2561763 |
|  |  | 4381208 |
| TOTAL BANK LOANS (Cost $106,659,442) |  | 106416207 |
| **CONVERTIBLE BONDS - 1.18%** |  |  |
| **FINANCIALS - DIVERSIFIED - 0.59%** |  |  |
| Blackstone Mortgage Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 03/15/2023 | 5010000 | 4963031 |
| &nbsp;&nbsp;&nbsp; 5.50%, 03/15/2027 | 2450000 | 2099344 |
| Starwood Property Trust, Inc. 4.375%, 04/01/2023 | 1450000 | 1412844 |
|  |  | 8475219 |
| **FOOD & BEVERAGE - 0.23%** |  |  |
| Herbalife Nutrition, Ltd. 2.625%, 03/15/2024 (b) | 3630000 | 3355935 |
| **TECHNOLOGY - SOFTWARE & SERVICES - 0.36%** |  |  |
| DocuSign, Inc. 5.125%, 01/15/2024 (i) | 2440000 | 2305800 |
| Splunk, Inc. 0.50%, 09/15/2023 | 3000000 | 2905500 |
|  |  | 5211300 |
| TOTAL CONVERTIBLE BONDS (Cost $17,498,781) |  | 17042454 |
|  | **Shares** |  |
| **MONEY MARKET FUND - 4.32%** |  |  |
| First American Government Obligations Fund - Class X, 4.10% (d) | 62545777 | 62545777 |
| TOTAL MONEY MARKET FUND (Cost $62,545,777) |  | 62545777 |
| **Total Investments (Cost $1,516,793,330) - 100.20%** |  | **1450097776** |
| **Liabilities in Excess of Other Assets - (0.20%)** |  | **(2852661)** |
| **TOTAL NET ASSETS - 100.00%** |  | $**&nbsp;&nbsp;&nbsp;&nbsp;1447245115** |

---

Percentages are stated as a percent of net assets.<br>

---

| | |
|:---|:---|
| LIBOR | London Interbank Offered Rate |
| PIK | Payment-in-kind |
| PLC | Public Limited Company |
| REIT | Real Estate Investment Trust |
| SOFR | Secured Overnight Funding Rate |
| (a) | Variable rate securities. The coupon rate shown is the effective interest rate as of December 31, 2022. |
| (b) | U.S. traded security of a foreign issuer. |
| (c) | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in the program or other |
|  | "qualified institutional buyers." As of December 31, 2022, the value of these investments was $927,085,812 or 64.06% of total net assets. |
| (d) | Rate shown is the 7-day annualized yield as of December 31, 2022. |
| (e) | All or a portion is posted as collateral for delayed settlement securities. |
| (f) | Security has the ability to pay in kind or pay in cash. When applicable, separate rates of such payments are disclosed. |
| (g) | Final terms of the bank loan are not yet known, so reference index and spread information may not be presented. |
| (h) | Step-up bond; pays one interest rate for a certain period and a different rate thereafter. The interest rates presented are the rates in effect as of December 31, 2022. |
| (i) | Zero-coupon security. Rate shown is the amortized yield as of December 31, 2022. |
| The Global Industry Classification Standard (GICS<sup>®</sup>) was developed by and/or is the exclusive property of MSCI, | The Global Industry Classification Standard (GICS<sup>®</sup>) was developed by and/or is the exclusive property of MSCI, |
| Inc. and Standard & Poor's Financial Services LLC ("S&P"). GICS is a service mark of MSCI and S&P and has | Inc. and Standard & Poor's Financial Services LLC ("S&P"). GICS is a service mark of MSCI and S&P and has |
| been licensed for use by Shenkman Capital Management, Inc. Industries presented are at the discretion | been licensed for use by Shenkman Capital Management, Inc. Industries presented are at the discretion |
| of Shenkman Capital Management, Inc. and therefore may not follow the exact naming convention prescribed by GICS. | of Shenkman Capital Management, Inc. and therefore may not follow the exact naming convention prescribed by GICS. |

---

------

---

| |
|:---|
| **Shenkman Capital Short Duration High Income Fund** |
| **Summary of Fair Value Disclosure at December 31, 2022 (Unaudited)** |
| The Fund utilizes various methods to measure the fair value of its investments on a recurring basis. Accounting |
| principles generally accepted in the United States of America ("U.S. GAAP") establish a hierarchy that prioritizes |
| inputs to valuation methods. The three levels of inputs are: |

---

---

| | |
|:---|:---|
| Level 1 – | Unadjusted quoted prices in active markets for identical assets or liabilities that the |
|  | Fund has the ability to access. |
| Level 2 – | Observable inputs other than quoted prices included in Level 1 that are observable for |
|  | the asset or liability, either directly or indirectly. These inputs may include quoted prices |
|  | for the identical instrument on an inactive market, prices for similar instruments, interest |
|  | rates, prepayment speeds, credit risk, yield curves, default rates and similar data. |
| Level 3 – | Unobservable inputs for the asset or liability, to the extent relevant observable inputs |
|  | are not available, representing the Fund's own assumptions about the assumptions a market |
|  | participant would use in valuing the asset or liability, and would be based on the best |
|  | information available. |
| The following is a summary of the inputs used to value the Fund's investments as of December 31, 2022: | The following is a summary of the inputs used to value the Fund's investments as of December 31, 2022: |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Shenkman Capital Short Duration High Income Fund** | **Shenkman Capital Short Duration High Income Fund** | **Shenkman Capital Short Duration High Income Fund** | | |
|  | **Level 1** | **Level 2** |<br>**Level 3** |<br>**Total** |
| **Fixed Income** | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds | $- | $1264093338 | $- | $1264093338 |
| &nbsp;&nbsp;&nbsp;&nbsp;Bank Loans | - | 106416207 | - | 106416207 |
| &nbsp;&nbsp;&nbsp;&nbsp;Convertible Bonds | - | 17042454 | - | 17042454 |
| **Total Fixed Income** | - | 1387551999 | - | 1387551999 |
| **Money Market Fund** | 62545777 | - | - | 62545777 |
| **Total Investments** | $62545777 | $1387551999 | $- | $1450097776 |
| Refer to the Fund's schedule of investments for a detailed break-out of holdings by industry classification. | Refer to the Fund's schedule of investments for a detailed break-out of holdings by industry classification. | Refer to the Fund's schedule of investments for a detailed break-out of holdings by industry classification. | Refer to the Fund's schedule of investments for a detailed break-out of holdings by industry classification. | Refer to the Fund's schedule of investments for a detailed break-out of holdings by industry classification. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Advisors Series Trust

- **b. Investment Company Act file number:** 811-07959

- **c. CIK number of Registrant:** 0001027596

- **d. LEI of Registrant:** 2549003Z0J6URS6I4Y63

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

  - **Street Address 1:** 615 East Michigan Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

  - **Telephone number:** 626-914-7363

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

- **a. Name of Series:** Shenkman Capital Short Duration High Income Fund

- **b. EDGAR series identifier (if any):** S000038872

- **c. LEI of Series:** 254900WYIREZV2BWAD68

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

- **a. Date of fiscal year-end:** 2023-09-30

- **b. Date as of which information is reported:** 2022-12-31

**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:** $1476684931.29

**Total Liabilities:** $31494888.02

**Net Assets:** $1445190043.27

**Cash Not Reported:** $973506.62

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 4570.710000000000 | **1-Year:** 4978.830000000000 | **5-Year:** 3590.140000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

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

- **3-Month:** 198007.240000000000 | **1-Year:** 44910.070000000000 | **5-Year:** 14224.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000119634 | 1.86%                | 0.99%                | -0.02%               |
| Class ID C000119635 | 1.80%                | 0.94%                | -0.09%               |
| Class ID C000119636 | 1.99%                | 1.01%                | -0.10%               |
| Class ID C000126960 | 1.99%                | 1.01%                | -0.11%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-3396774.17             | $25218715.53                               |
| Month 2  | $-498383.53              | $9778252.39                                |
| Month 3  | $-2903436.15             | $-3431586.07                               |

**Designated Index Information**

- **Index Name:** N/A

- **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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| VICI PROPERTIES / NOTE         | VICI Properties LP / VICI Note Co Inc                                            | CUSIP: 92564RAG0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5805000 | PA      | $5573090.25   | 0.39%             | 2025-06-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| VIDEOTRON LTD                  | Videotron Ltd                                                                    | CUSIP: 92660FAG9<br>LEI: 549300LW4GNJRBECSD81 | Long             | DBT              | CORP              | CA        |   3510000 | PA      | $3471846.30   | 0.24%             | 2024-06-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                    | Vistra Operations Co LLC                                                         | CUSIP: 92840VAA0<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   6639000 | PA      | $6407488.11   | 0.44%             | 2026-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC       | Vistra Operations Co LLC                                                         | CUSIP: 92840VAB8<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |  10641000 | PA      | $10130059.62  | 0.70%             | 2027-02-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                    | Vistra Operations Co LLC                                                         | CUSIP: 92840VAF9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   3240000 | PA      | $3006393.08   | 0.21%             | 2027-07-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC           | WR Grace Holdings LLC                                                            | CUSIP: 92943GAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7290000 | PA      | $7190783.10   | 0.50%             | 2024-10-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC         | WESCO Distribution Inc                                                           | CUSIP: 95081QAN4<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |  15584000 | PA      | $15813152.43  | 1.09%             | 2025-06-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| WESTERN DIGITAL CORP           | Western Digital Corp                                                             | CUSIP: 958102AM7<br>LEI: 549300QQXOOYEF89IC56 | Long             | DBT              | CORP              | US        |   2070000 | PA      | $1953873.00   | 0.14%             | 2026-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TRI POINTE GROUP / HOMES       | TRI Pointe Group Inc / TRI Pointe Homes Inc                                      | CUSIP: 962178AN9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2670000 | PA      | $2649208.23   | 0.18%             | 2024-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| TRAVEL + LEISURE CO            | Travel + Leisure Co                                                              | CUSIP: 98310WAL2<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |   1715000 | PA      | $1707876.30   | 0.12%             | 2023-03-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| TRAVEL + LEISURE CO            | Travel + Leisure Co                                                              | CUSIP: 98310WAM0<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |   3498000 | PA      | $3452760.33   | 0.24%             | 2025-10-01      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| TRAVEL + LEISURE CO            | Travel + Leisure Co                                                              | CUSIP: 98310WAS7<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |   1540000 | PA      | $1509171.76   | 0.10%             | 2026-07-31      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| XPO ESCROW SUB LLC             | XPO Escrow Sub LLC                                                               | CUSIP: 98379JAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2310000 | PA      | $2340538.22   | 0.16%             | 2027-11-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                  | ZF North America Capital Inc                                                     | CUSIP: 98877DAC9<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |   3790000 | PA      | $3572518.85   | 0.25%             | 2025-04-29      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| OPTIV SECURITY INC             | Optiv Security Inc                                                               | CUSIP: 68404XAB2<br>LEI: 549300VZRXJMEDMZX746 | Long             | LON              | CORP              | US        |   6094009 | PA      | $5843910.84   | 0.40%             | 2024-02-01      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS       | Univision Communications Inc                                                     | CUSIP: 914908AX6<br>LEI: 549300YQDE2JSGTL8V47 | Long             | LON              | CORP              | US        |    179395 | PA      | $179432.80    | 0.01%             | 2024-03-15      | Floating      | 7.13%                 | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT         | Mauser Packaging Solutions Holding Co                                            | CUSIP: 05604XAP1<br>LEI: 549300DNGHXL0OMHW304 | Long             | LON              | CORP              | US        |   3006634 | PA      | $2941495.17   | 0.20%             | 2024-04-03      | Floating      | 7.37%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC               | CSC Holdings LLC                                                                 | CUSIP: 64072UAE2<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | LON              | CORP              | US        |   1728304 | PA      | $1639296.80   | 0.11%             | 2025-07-17      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| TEMPO ACQUISITION LLC          | Tempo Acquisition LLC                                                            | CUSIP: 88023HAC4<br>LEI: 549300VV0B2RPMHQGA61 | Long             | LON              | CORP              | US        |    172878 | PA      | $172705.34    | 0.01%             | 2024-05-01      | Floating      | 7.13%                 | No            |                  2 | On Loan: No      |
| FINASTRA USA INC               | Finastra USA Inc                                                                 | CUSIP: 02034DAC1<br>LEI: 549300ZB2RO6QC7YTK71 | Long             | LON              | CORP              | US        |   1241486 | PA      | $1101297.51   | 0.08%             | 2024-06-13      | Floating      | 6.87%                 | No            |                  2 | On Loan: No      |
| FINASTRA USA INC               | Finastra USA Inc                                                                 | CUSIP: 02034DAC1<br>LEI: 549300ZB2RO6QC7YTK71 | Long             | LON              | CORP              | US        |    232173 | PA      | $205956.38    | 0.01%             | 2024-06-13      | Floating      | 6.87%                 | No            |                  2 | On Loan: No      |
| FINASTRA USA INC               | Finastra USA Inc                                                                 | CUSIP: 02034DAC1<br>LEI: 549300ZB2RO6QC7YTK71 | Long             | LON              | CORP              | US        |    255136 | PA      | $226325.69    | 0.02%             | 2024-06-13      | Floating      | 6.87%                 | No            |                  2 | On Loan: No      |
| CAESARS RESORT COLLECTIO       | Caesars Resort Collection LLC                                                    | CUSIP: 12769LAB5<br>LEI: 549300V3UCT773B1KR38 | Long             | LON              | CORP              | US        |   2510000 | PA      | $2507590.40   | 0.17%             | 2024-12-22      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| XPO LOGISTICS INC              | XPO Inc                                                                          | CUSIP: 98379EAE6<br>LEI: 54930096DB9LCLPN7H13 | Long             | LON              | CORP              | US        |   2570000 | PA      | $2561763.15   | 0.18%             | 2025-02-23      | Floating      | 5.93%                 | No            |                  2 | On Loan: No      |
| WILLIAM MORRIS ENDEAVOR EN     | William Morris Endeavor Entertainment LLC                                        | CUSIP: 96925HAF9<br>LEI: 5493008R7J9HEQ30DZ33 | Long             | LON              | CORP              | US        |   3667149 | PA      | $3597473.21   | 0.25%             | 2025-05-18      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| PROJECT ALPHA INTERMEDIA       | Project Alpha Intermediate Holding Inc                                           | CUSIP: 74339DAE8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   9030625 | PA      | $8831951.07   | 0.61%             | 2024-04-26      | Floating      | 8.39%                 | No            |                  2 | On Loan: No      |
| VERSCEND HOLDING CORP          | Verscend Holding Corp                                                            | CUSIP: 92531HAD9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4184578 | PA      | $4166270.42   | 0.29%             | 2025-08-27      | Floating      | 8.38%                 | No            |                  2 | On Loan: No      |
| BOXER PARENT CO INC            | Boxer Parent Co Inc                                                              | CUSIP: 05988HAE7<br>LEI: 5493006T045HLTF7YX04 | Long             | LON              | CORP              | US        |   4054877 | PA      | $3891769.24   | 0.27%             | 2025-10-02      | Floating      | 8.13%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP              | Clarios Global LP                                                                | CUSIP: C8000CAG8<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | CA        |   3825000 | PA      | $3761256.38   | 0.26%             | 2026-04-30      | Floating      | 7.63%                 | No            |                  2 | On Loan: No      |
| KENAN ADVANTAGE GROUP          | Kenan Advantage Group Inc/The                                                    | CUSIP: 48853UBE9<br>LEI: 549300GVUXCXDWYPIY65 | Long             | LON              | CORP              | US        |    993461 | PA      | $970928.86    | 0.07%             | 2026-03-24      | Floating      | 8.13%                 | No            |                  2 | On Loan: No      |
| AADVANTAGE LOYALTY IP          | AAdvantage Loyalty IP Ltd                                                        | CUSIP: 02376CBJ3<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |    853252 | PA      | $850986.62    | 0.06%             | 2028-04-20      | Floating      | 8.99%                 | No            |                  2 | On Loan: No      |
| THOR INDUSTRIES                | Thor Industries Inc                                                              | CUSIP: 88516DAD5<br>LEI: 254900XZO1228PDSG060 | Long             | LON              | CORP              | US        |   3813803 | PA      | $3803086.34   | 0.26%             | 2026-02-01      | Floating      | 7.44%                 | No            |                  2 | On Loan: No      |
| SURGERY CENTER HOLDINGS INC    | Surgery Center Holdings Inc                                                      | CUSIP: 86880NAX1<br>LEI: 54930054EVI5HWPPW113 | Long             | LON              | CORP              | US        |   2328775 | PA      | $2305230.68   | 0.16%             | 2026-08-31      | Floating      | 8.05%                 | No            |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC          | Directv Financing LLC                                                            | CUSIP: 25460HAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    711000 | PA      | $693744.03    | 0.05%             | 2027-08-02      | Floating      | 9.38%                 | No            |                  2 | On Loan: No      |
| ASURION LLC                    | Asurion LLC                                                                      | CUSIP: 04649VBA7<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |   1055000 | PA      | $826291.83    | 0.06%             | 2029-01-15      | Floating      | 9.63%                 | No            |                  2 | On Loan: No      |
| MAXAR TECHNOLOGIES INC         | Maxar Technologies Inc                                                           | CUSIP: N/A<br>LEI: 549300OEN2G821MIJ922       | Long             | LON              | CORP              | US        |   2551353 | PA      | $2552488.35   | 0.18%             | 2029-06-14      | Floating      | 8.67%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                  | DISH DBS Corp                                                                    | CUSIP: 25470XAW5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3955000 | PA      | $3683267.33   | 0.25%             | 2024-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                  | DISH DBS Corp                                                                    | CUSIP: 25470XBE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4237000 | PA      | $3576917.77   | 0.25%             | 2026-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DOCUSIGN INC                   | DocuSign Inc                                                                     | CUSIP: 256163AD8<br>LEI: 549300Q7PVDWRZ39JG09 | Long             | DBT              | CORP              | US        |   2440000 | PA      | $2305800.00   | 0.16%             | 2024-01-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L       | EQM Midstream Partners LP                                                        | CUSIP: 26885BAF7<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |    714000 | PA      | $690235.35    | 0.05%             | 2025-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L       | EQM Midstream Partners LP                                                        | CUSIP: 26885BAM2<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |   1805000 | PA      | $1769955.93   | 0.12%             | 2027-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC          | Caesars Entertainment Inc                                                        | CUSIP: 28470RAH5<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |  23629000 | PA      | $23029732.64  | 1.59%             | 2025-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC          | Caesars Entertainment Inc                                                        | CUSIP: 28470RAK8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   3480000 | PA      | $3426442.80   | 0.24%             | 2027-07-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| ENPRO INDUSTRIES INC           | EnPro Industries Inc                                                             | CUSIP: 29355XAG2<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | DBT              | CORP              | US        |   6489000 | PA      | $6324828.30   | 0.44%             | 2026-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| FMG RESOURCES AUG 2006         | FMG Resources August 2006 Pty Ltd                                                | CUSIP: 30251GAW7<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |  10656000 | PA      | $10491281.68  | 0.73%             | 2024-05-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| FERRELLGAS LP/FERRELLGAS       | Ferrellgas LP / Ferrellgas Finance Corp                                          | CUSIP: 315289AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3059000 | PA      | $2786433.92   | 0.19%             | 2026-04-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund                                       | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |  62545777 | NS      | $62545776.57  | 4.33%             |  |  |  | No            |                  1 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC       | Ford Motor Credit Co LLC                                                         | CUSIP: 345397A60<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   7695000 | PA      | $7411911.72   | 0.51%             | 2025-06-16      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC       | Ford Motor Credit Co LLC                                                         | CUSIP: 345397B28<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   8955000 | PA      | $8111285.33   | 0.56%             | 2025-11-13      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC       | Ford Motor Credit Co LLC                                                         | CUSIP: 345397B77<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   4195000 | PA      | $3648517.35   | 0.25%             | 2026-08-10      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC       | Ford Motor Credit Co LLC                                                         | CUSIP: 345397C27<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   2035000 | PA      | $1902256.95   | 0.13%             | 2027-05-28      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC       | Ford Motor Credit Co LLC                                                         | CUSIP: 345397WW9<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1855000 | PA      | $1770869.13   | 0.12%             | 2024-09-08      | Fixed         | 3.66%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC          | GFL Environmental Inc                                                            | CUSIP: 36168QAF1<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |   1055000 | PA      | $1010694.63   | 0.07%             | 2026-12-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC          | GFL Environmental Inc                                                            | CUSIP: 36168QAJ3<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |   4263000 | PA      | $4078599.97   | 0.28%             | 2025-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC          | GFL Environmental Inc                                                            | CUSIP: 36168QAK0<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |   5850000 | PA      | $5537463.75   | 0.38%             | 2025-08-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY COR       | Garda World Security Corp                                                        | CUSIP: 36257BAA7<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |   3689000 | PA      | $3558414.16   | 0.25%             | 2027-11-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| GLOBAL MEDICAL RESPONSE        | Global Medical Response Inc                                                      | CUSIP: 37960BAA3<br>LEI: 549300ZFWD4ZFCEJCQ87 | Long             | DBT              | CORP              | US        |   4145000 | PA      | $2973167.05   | 0.21%             | 2025-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GO DADDY OPCO/FINCO            | Go Daddy Operating Co LLC / GD Finance Co Inc                                    | CUSIP: 38016LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1430000 | PA      | $1355897.47   | 0.09%             | 2027-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GOEASY LTD                     | goeasy Ltd                                                                       | CUSIP: 380355AD9<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |   5709000 | PA      | $5486634.45   | 0.38%             | 2024-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| GOEASY LTD                     | goeasy Ltd                                                                       | CUSIP: 380355AF4<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |   1945000 | PA      | $1724086.90   | 0.12%             | 2026-05-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER         | Goodyear Tire & Rubber Co/The                                                    | CUSIP: 382550BF7<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |   7622000 | PA      | $7200483.43   | 0.50%             | 2026-05-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER         | Goodyear Tire & Rubber Co/The                                                    | CUSIP: 382550BH3<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |   4970000 | PA      | $5114985.88   | 0.35%             | 2025-05-31      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| GRAHAM HOLDINGS CO             | Graham Holdings Co                                                               | CUSIP: 384637AA2<br>LEI: 529900BOSCEEEMAFQJ29 | Long             | DBT              | CORP              | US        |   3645000 | PA      | $3586989.83   | 0.25%             | 2026-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| INTERNATIONAL GAME TECH        | International Game Technology PLC                                                | CUSIP: 460599AF0<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |   4525000 | PA      | $4226143.66   | 0.29%             | 2026-04-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| JAGUAR LAND ROVER AUTOMO       | Jaguar Land Rover Automotive PLC                                                 | CUSIP: 47010BAA2<br>LEI: 529900L73GEWN1O5NH84 | Long             | DBT              | CORP              | GB        |   6275000 | PA      | $6235911.90   | 0.43%             | 2023-02-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| JAGUAR LAND ROVER AUTOMO       | Jaguar Land Rover Automotive PLC                                                 | CUSIP: 47010BAJ3<br>LEI: 529900L73GEWN1O5NH84 | Long             | DBT              | CORP              | GB        |   5531000 | PA      | $5097258.98   | 0.35%             | 2025-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| KAR AUCTION SERVICES INC       | KAR Auction Services Inc                                                         | CUSIP: 48238TAA7<br>LEI: 5493004HKD20LBSG7D03 | Long             | DBT              | CORP              | US        |   8035000 | PA      | $7862164.90   | 0.54%             | 2025-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| LABL INC                       | LABL Inc                                                                         | CUSIP: 50168AAB6<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |   4138000 | PA      | $3924322.62   | 0.27%             | 2026-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BATH & BODY WORKS INC          | Bath & Body Works Inc                                                            | CUSIP: 501797AU8<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |   3552000 | PA      | $3798650.99   | 0.26%             | 2025-07-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC          | Level 3 Financing Inc                                                            | CUSIP: 527298BP7<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |   2726000 | PA      | $2312647.62   | 0.16%             | 2027-03-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| LIFEPT/LEGACY LIFEPT           | RegionalCare Hospital Partners Holdings Inc / LifePoint Health Inc               | CUSIP: 53219LAR0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  17273000 | PA      | $13936892.78  | 0.96%             | 2026-12-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| LEGACY LIFEPOINT HEALTH        | Legacy LifePoint Health LLC                                                      | CUSIP: 53219LAS8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    655000 | PA      | $555047.00    | 0.04%             | 2027-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| LEGACY LIFEPOINT HEALTH        | Legacy LifePoint Health LLC                                                      | CUSIP: 53219LAT6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8119000 | PA      | $7653537.73   | 0.53%             | 2025-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN       | Live Nation Entertainment Inc                                                    | CUSIP: 538034AK5<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |   9332000 | PA      | $9050121.43   | 0.63%             | 2024-11-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN       | Live Nation Entertainment Inc                                                    | CUSIP: 538034AN9<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |   9423000 | PA      | $8925828.76   | 0.62%             | 2026-03-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN       | Live Nation Entertainment Inc                                                    | CUSIP: 538034AV1<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |    500000 | PA      | $490645.49    | 0.03%             | 2027-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL               | MGM Resorts International                                                        | CUSIP: 552953CC3<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |   5158000 | PA      | $5150804.59   | 0.36%             | 2023-03-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL               | MGM Resorts International                                                        | CUSIP: 552953CE9<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |   5285000 | PA      | $5143713.98   | 0.36%             | 2025-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL               | MGM Resorts International                                                        | CUSIP: 552953CG4<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |  19200000 | PA      | $19329196.80  | 1.34%             | 2025-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL        | MPT Operating Partnership LP / MPT Finance Corp                                  | CUSIP: 55342UAG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  11378000 | PA      | $10381344.09  | 0.72%             | 2026-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC         | Match Group Holdings II LLC                                                      | CUSIP: 57665RAG1<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |   2045000 | PA      | $1884917.40   | 0.13%             | 2027-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAXAR TECHNOLOGIES INC         | Maxar Technologies Inc                                                           | CUSIP: 57778KAC9<br>LEI: 549300OEN2G821MIJ922 | Long             | DBT              | CORP              | US        |   1690000 | PA      | $1756523.00   | 0.12%             | 2027-06-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| METHANEX CORP                  | Methanex Corp                                                                    | CUSIP: 59151KAK4<br>LEI: 549300TSJHRXT9QXRD13 | Long             | DBT              | CORP              | CA        |   4941000 | PA      | $4739239.40   | 0.33%             | 2024-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NCR CORP                       | NCR Corp                                                                         | CUSIP: 62886EAU2<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |   6805000 | PA      | $6522420.54   | 0.45%             | 2027-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD            | NCL Corp Ltd                                                                     | CUSIP: 62886HBE0<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |   1000000 | PA      | $867455.00    | 0.06%             | 2027-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NGL ENRGY OP/FIN CORP          | NGL Energy Operating LLC / NGL Energy Finance Corp                               | CUSIP: 62922LAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1024425.64   | 0.07%             | 2026-02-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                 | NRG Energy Inc                                                                   | CUSIP: 629377CC4<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   5815000 | PA      | $5775341.70   | 0.40%             | 2027-01-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC         | Nationstar Mortgage Holdings Inc                                                 | CUSIP: 63861CAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3940000 | PA      | $3532525.20   | 0.24%             | 2027-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                   | Navient Corp                                                                     | CUSIP: 63938CAB4<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $969300.22    | 0.07%             | 2024-10-25      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                   | Navient Corp                                                                     | CUSIP: 63938CAE8<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |   3506000 | PA      | $3514083.40   | 0.24%             | 2023-09-25      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                   | Navient Corp                                                                     | CUSIP: 63938CAH1<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |   1755000 | PA      | $1687709.16   | 0.12%             | 2025-06-25      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NEWMARK GROUP INC              | Newmark Group Inc                                                                | CUSIP: 65158NAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6268000 | PA      | $6218747.31   | 0.43%             | 2023-11-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY OPERATING       | NextEra Energy Operating Partners LP                                             | CUSIP: 65342QAC6<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |     72000 | PA      | $67311.72     | 0.00%             | 2024-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY OPERATING       | NextEra Energy Operating Partners LP                                             | CUSIP: 65342QAK8<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |   8158000 | PA      | $7926583.81   | 0.55%             | 2024-07-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NORTHWEST FIBER LLC/NORT       | Northwest Fiber LLC / Northwest Fiber Finance Sub Inc                            | CUSIP: 667449AD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3155000 | PA      | $2779910.47   | 0.19%             | 2027-04-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                | Gen Digital Inc                                                                  | CUSIP: 668771AK4<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |   2957000 | PA      | $2901704.10   | 0.20%             | 2027-09-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NOVA CHEMICALS CORP            | NOVA Chemicals Corp                                                              | CUSIP: 66977WAQ2<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |  13969000 | PA      | $13546931.27  | 0.94%             | 2024-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| NUSTAR LOGISTICS LP            | NuStar Logistics LP                                                              | CUSIP: 67059TAG0<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |   3385000 | PA      | $3264371.02   | 0.23%             | 2025-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN       | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAK5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   4685000 | PA      | $4656507.47   | 0.32%             | 2025-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP                 | Open Text Corp                                                                   | CUSIP: 683715AF3<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |   4485000 | PA      | $4490830.50   | 0.31%             | 2027-12-01      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C       | Outfront Media Capital LLC / Outfront Media Capital Corp                         | CUSIP: 69007TAD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5200000 | PA      | $5159681.18   | 0.36%             | 2025-06-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| OWENS & MINOR INC              | Owens & Minor Inc                                                                | CUSIP: 690732AE2<br>LEI: 549300LMT5KQQXCEZ733 | Long             | DBT              | CORP              | US        |   3870000 | PA      | $3746757.41   | 0.26%             | 2024-12-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| PTC INC                        | PTC Inc                                                                          | CUSIP: 69370CAB6<br>LEI: 54930050SSMU8SKDJ030 | Long             | DBT              | CORP              | US        |   2845000 | PA      | $2709813.68   | 0.19%             | 2025-02-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN       | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 69867DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8672000 | PA      | $8486321.64   | 0.59%             | 2026-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN       | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 69867DAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7209000 | PA      | $7079415.34   | 0.49%             | 2027-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO INC            | Sirius XM Radio Inc                                                              | CUSIP: 82967NBA5<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |   6831000 | PA      | $6329990.01   | 0.44%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO INC            | Sirius XM Radio Inc                                                              | CUSIP: 82967NBL1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |   4478000 | PA      | $3981770.43   | 0.28%             | 2026-09-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS ENTERTAINMENT        | Six Flags Entertainment Corp                                                     | CUSIP: 83001AAB8<br>LEI: 549300JYTDUAA4JQ3717 | Long             | DBT              | CORP              | US        |   3940000 | PA      | $3799637.50   | 0.26%             | 2024-07-31      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS THEME PARKS          | Six Flags Theme Parks Inc                                                        | CUSIP: 83001WAC8<br>LEI: 5493003MX0ZXTM8EVY68 | Long             | DBT              | CORP              | US        |   4865000 | PA      | $4909921.85   | 0.34%             | 2025-07-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SURGERY CENTER HOLDINGS        | Surgery Center Holdings Inc                                                      | CUSIP: 84611WAB0<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |   5013000 | PA      | $4955344.43   | 0.34%             | 2025-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SPECTRUM BRANDS INC            | Spectrum Brands Inc                                                              | CUSIP: 84762LAU9<br>LEI: 549300VU3EH2E73C1Q04 | Long             | DBT              | CORP              | US        |   4324000 | PA      | $4281491.79   | 0.30%             | 2025-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SPLUNK INC                     | Splunk Inc                                                                       | CUSIP: 848637AC8<br>LEI: 549300XGDSGBP6UEI867 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2905500.00   | 0.20%             | 2023-09-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP           | OneMain Finance Corp                                                             | CUSIP: 85172FAF6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   3206000 | PA      | $3236338.57   | 0.22%             | 2023-10-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP           | OneMain Finance Corp                                                             | CUSIP: 85172FAM1<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   1850000 | PA      | $1781374.31   | 0.12%             | 2025-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP           | OneMain Finance Corp                                                             | CUSIP: 85172FAP4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   6050000 | PA      | $5867093.25   | 0.41%             | 2024-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| SPRINT LLC                     | Sprint LLC                                                                       | CUSIP: 85207UAF2<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |   9233000 | PA      | $9383544.07   | 0.65%             | 2023-09-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| SPRINT LLC                     | Sprint LLC                                                                       | CUSIP: 85207UAH8<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |   8505000 | PA      | $8694032.13   | 0.60%             | 2024-06-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| SPRINT LLC                     | Sprint LLC                                                                       | CUSIP: 85207UAK1<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |    660000 | PA      | $695891.46    | 0.05%             | 2026-03-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                      | Block Inc                                                                        | CUSIP: 852234AN3<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |   1790000 | PA      | $1601369.80   | 0.11%             | 2026-06-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST        | Starwood Property Trust Inc                                                      | CUSIP: 85571BAH8<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |   1450000 | PA      | $1412843.75   | 0.10%             | 2023-04-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST        | Starwood Property Trust Inc                                                      | CUSIP: 85571BAS4<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |   3043000 | PA      | $3021120.01   | 0.21%             | 2023-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI       | Antero Midstream Partners LP / Antero Midstream Finance Corp                     | CUSIP: 03690EAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3810000 | PA      | $3862131.39   | 0.27%             | 2026-05-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ARAMARK SERVICES INC           | Aramark Services Inc                                                             | CUSIP: 038522AP3<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |   2430000 | PA      | $2374928.59   | 0.16%             | 2025-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARAMARK SERVICES INC           | Aramark Services Inc                                                             | CUSIP: 038522AR9<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |  24155000 | PA      | $23907169.70  | 1.65%             | 2025-05-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ARDAGH PKG FIN/HLDGS USA       | Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc                           | CUSIP: 03969AAN0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5365000 | PA      | $4658340.66   | 0.32%             | 2026-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ARDAGH PKG FIN/HLDGS USA       | Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc                           | CUSIP: 03969AAQ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10953000 | PA      | $10448141.40  | 0.72%             | 2025-04-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| B&G FOODS INC                  | B&G Foods Inc                                                                    | CUSIP: 05508RAE6<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | DBT              | CORP              | US        |   8804000 | PA      | $7733369.24   | 0.54%             | 2025-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BALL CORP                      | Ball Corp                                                                        | CUSIP: 058498AT3<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |   3480000 | PA      | $3439532.58   | 0.24%             | 2025-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BERRY GLOBAL INC               | Berry Global Inc                                                                 | CUSIP: 08576PAA9<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1435570.95   | 0.10%             | 2026-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BERRY GLOBAL INC               | Berry Global Inc                                                                 | CUSIP: 085770AA3<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |   6151000 | PA      | $5927487.05   | 0.41%             | 2026-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE MORTGAGE TR         | Blackstone Mortgage Trust Inc                                                    | CUSIP: 09257WAC4<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | DBT              | CORP              | US        |   5010000 | PA      | $4963031.25   | 0.34%             | 2023-03-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE MORTGAGE TR         | Blackstone Mortgage Trust Inc                                                    | CUSIP: 09257WAE0<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | DBT              | CORP              | US        |   2450000 | PA      | $2099343.75   | 0.15%             | 2027-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BOXER PARENT CO INC            | Boxer Parent Co Inc                                                              | CUSIP: 103186AB8<br>LEI: 5493006T045HLTF7YX04 | Long             | DBT              | CORP              | US        |  15453000 | PA      | $15052636.41  | 1.04%             | 2025-10-02      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| BOXER PARENT CO INC            | Boxer Parent Co Inc                                                              | CUSIP: 103186AC6<br>LEI: 5493006T045HLTF7YX04 | Long             | DBT              | CORP              | US        |   2982000 | PA      | $2817974.76   | 0.19%             | 2026-03-01      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| BRINK'S CO/THE                 | Brink's Co/The                                                                   | CUSIP: 109696AB0<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |   5365000 | PA      | $5276736.74   | 0.37%             | 2025-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP            | Buckeye Partners LP                                                              | CUSIP: 118230AK7<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |   3537000 | PA      | $3480434.07   | 0.24%             | 2023-07-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP            | Buckeye Partners LP                                                              | CUSIP: 118230AN1<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |   3460000 | PA      | $3348063.84   | 0.23%             | 2024-10-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP            | Buckeye Partners LP                                                              | CUSIP: 118230AT8<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |   4616000 | PA      | $4405680.22   | 0.30%             | 2025-03-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT         | Mauser Packaging Solutions Holding Co                                            | CUSIP: 12429TAD6<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |   3302000 | PA      | $3217119.15   | 0.22%             | 2024-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT         | Mauser Packaging Solutions Holding Co                                            | CUSIP: 12429TAE4<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |   2100000 | PA      | $1946083.38   | 0.13%             | 2025-04-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP         | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPBR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  15721000 | PA      | $15242327.15  | 1.05%             | 2026-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE            | CDW LLC / CDW Finance Corp                                                       | CUSIP: 12513GBE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3945000 | PA      | $3837696.00   | 0.27%             | 2025-05-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC               | CSC Holdings LLC                                                                 | CUSIP: 126307AH0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   7794000 | PA      | $7267905.00   | 0.50%             | 2024-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC               | CSC Holdings LLC                                                                 | CUSIP: 126307AQ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   7117000 | PA      | $5985584.82   | 0.41%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CAESARS RESORT / FINCO         | Caesars Resort Collection LLC / CRC Finco Inc                                    | CUSIP: 12770RAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5900000 | PA      | $5784159.81   | 0.40%             | 2025-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                   | Calpine Corp                                                                     | CUSIP: 131347CK0<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |   5458000 | PA      | $5207765.44   | 0.36%             | 2026-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CANPACK SA/CANPACK US          | Canpack SA / Canpack US LLC                                                      | CUSIP: 13805AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2869000 | PA      | $2524863.62   | 0.17%             | 2025-11-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| CATALENT PHARMA SOLUTION       | Catalent Pharma Solutions Inc                                                    | CUSIP: 14879EAE8<br>LEI: 549300HALRZ339MSTH85 | Long             | DBT              | CORP              | US        |   1290000 | PA      | $1202174.97   | 0.08%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CEDAR FAIR/CAN/MAGNUM/MI       | Cedar Fair LP / Canada's Wonderland Co / Magnum Management Corp / Millennium Op  | CUSIP: 150190AF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  11931000 | PA      | $11782090.50  | 0.82%             | 2025-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC       | Celanese US Holdings LLC                                                         | CUSIP: 15089QAL8<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |   4900000 | PA      | $4891131.93   | 0.34%             | 2025-03-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC         | Lumen Technologies Inc                                                           | CUSIP: 156700BC9<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |   1720000 | PA      | $1461453.92   | 0.10%             | 2027-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP              | Clarios Global LP                                                                | CUSIP: 18060TAA3<br>LEI: 549300474L1ZLXZY2P98 | Long             | DBT              | CORP              | CA        |    549000 | PA      | $550535.44    | 0.04%             | 2025-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC              | Clean Harbors Inc                                                                | CUSIP: 184496AN7<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |   2495000 | PA      | $2368303.90   | 0.16%             | 2027-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| COGENT COMMUNICATIONS GR       | Cogent Communications Group Inc                                                  | CUSIP: 19240CAC7<br>LEI: 549300KFWFYF8Q1U0Y26 | Long             | DBT              | CORP              | US        |   3105000 | PA      | $2824579.69   | 0.20%             | 2026-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| HCA INC                        | HCA Inc                                                                          | CUSIP: 197677AC1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   3846000 | PA      | $3959708.72   | 0.27%             | 2024-04-15      | Fixed         | 8.36%                 | No            |                  2 | On Loan: No      |
| HCA INC                        | HCA Inc                                                                          | CUSIP: 197677AG2<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    658000 | PA      | $690863.50    | 0.05%             | 2025-06-15      | Fixed         | 7.69%                 | No            |                  2 | On Loan: No      |
| HCA INC                        | HCA Inc                                                                          | CUSIP: 197679AB9<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   2505000 | PA      | $2547315.21   | 0.18%             | 2023-12-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| HCA INC                        | HCA Inc                                                                          | CUSIP: 19767QAQ8<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   2251000 | PA      | $2336576.24   | 0.16%             | 2025-09-15      | Fixed         | 7.58%                 | No            |                  2 | On Loan: No      |
| CONNECT FINCO SARL/CONNE       | Connect Finco SARL / Connect US Finco LLC                                        | CUSIP: 20752TAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2322048.80   | 0.16%             | 2026-10-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CONSENSUS CLOUD SOLUTION       | Consensus Cloud Solutions Inc                                                    | CUSIP: 20848VAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4975000 | PA      | $4674040.81   | 0.32%             | 2026-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED ENERGY FIN        | Consolidated Energy Finance SA                                                   | CUSIP: 20914UAE6<br>LEI: 549300PUNIS0USNSL750 | Long             | DBT              | CORP              | LU        |    890000 | PA      | $835379.77    | 0.06%             | 2026-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CRESTWOOD MID PARTNER LP       | Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp               | CUSIP: 226373AP3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2505000 | PA      | $2441172.60   | 0.17%             | 2025-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DCP MIDSTREAM OPERATING        | DCP Midstream Operating LP                                                       | CUSIP: 23311VAD9<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |    850000 | PA      | $846557.50    | 0.06%             | 2023-03-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| DANA FINANCING LUX SARL        | Dana Financing Luxembourg Sarl                                                   | CUSIP: 235822AB9<br>LEI: 222100DKCE3D036DQU13 | Long             | DBT              | CORP              | LU        |   7085000 | PA      | $6941959.38   | 0.48%             | 2025-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC          | Directv Financing LLC / Directv Financing Co-Obligor Inc                         | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3874000 | PA      | $3473273.44   | 0.24%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN       | Graphic Packaging International LLC                                              | CUSIP: 38869PAM6<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |   2960000 | PA      | $2912714.00   | 0.20%             | 2024-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| GRAY TELEVISION INC            | Gray Television Inc                                                              | CUSIP: 389375AJ5<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |   9730000 | PA      | $8684025.00   | 0.60%             | 2026-07-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| GREYSTAR REAL ESTATE PAR       | Greystar Real Estate Partners LLC                                                | CUSIP: 39807UAB2<br>LEI: 254900HGC806SXAS4M46 | Long             | DBT              | CORP              | US        |   3880000 | PA      | $3798413.30   | 0.26%             | 2025-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| HCA INC                        | HCA Inc                                                                          | CUSIP: 404119BR9<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1805000 | PA      | $1805643.25   | 0.12%             | 2025-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| HANESBRANDS INC                | Hanesbrands Inc                                                                  | CUSIP: 410345AJ1<br>LEI: GX5LWVWZLL5S4W1L2F20 | Long             | DBT              | CORP              | US        |   7040000 | PA      | $6829909.64   | 0.47%             | 2024-05-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| HERBALIFE LTD                  | Herbalife Nutrition Ltd                                                          | CUSIP: 42703MAD5<br>LEI: 549300BA7TYPBSZZIA41 | Long             | DBT              | CORP              | KY        |   3630000 | PA      | $3355935.00   | 0.23%             | 2024-03-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| HILLENBRAND INC                | Hillenbrand Inc                                                                  | CUSIP: 431571AD0<br>LEI: U246OE781574J2BUD366 | Long             | DBT              | CORP              | US        |   2105000 | PA      | $2098390.30   | 0.15%             | 2025-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST       | Service Properties Trust                                                         | CUSIP: 44106MAR3<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |   7805000 | PA      | $7682242.10   | 0.53%             | 2023-06-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST       | Service Properties Trust                                                         | CUSIP: 44106MAS1<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |   1230000 | PA      | $1176743.45   | 0.08%             | 2024-03-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST       | Service Properties Trust                                                         | CUSIP: 44106MAZ5<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |   6495000 | PA      | $5914681.62   | 0.41%             | 2024-10-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD          | HUB International Ltd                                                            | CUSIP: 44332PAD3<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |   4490000 | PA      | $4404779.80   | 0.30%             | 2026-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| HUGHES SATELLITE SYSTEMS       | Hughes Satellite Systems Corp                                                    | CUSIP: 444454AF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3425000 | PA      | $3200628.25   | 0.22%             | 2026-08-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| ILIAD HOLDING SAS              | Iliad Holding SASU                                                               | CUSIP: 449691AA2<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |   4903000 | PA      | $4555788.37   | 0.32%             | 2026-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| IRB HOLDING CORP               | IRB Holding Corp                                                                 | CUSIP: 44988MAC9<br>LEI: 549300HVW4WNWYBXN830 | Long             | DBT              | CORP              | US        |   7830000 | PA      | $7822561.50   | 0.54%             | 2025-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                      | IQVIA Inc                                                                        | CUSIP: 449934AD0<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |   7917000 | PA      | $7575618.09   | 0.52%             | 2026-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INEOS QUATTRO FINANCE 2        | INEOS Quattro Finance 2 Plc                                                      | CUSIP: 45674GAA2<br>LEI: 213800V48W4Y5MT5Q131 | Long             | DBT              | CORP              | GB        |   2400000 | PA      | $2207988.00   | 0.15%             | 2026-01-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| INTERNATIONAL GAME TECH        | International Game Technology PLC                                                | CUSIP: 460599AC7<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |   6257000 | PA      | $6305304.04   | 0.44%             | 2025-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| INTERNATIONAL GAME TECH        | International Game Technology PLC                                                | CUSIP: 460599AD5<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |   1400000 | PA      | $1391782.00   | 0.10%             | 2027-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| AMC NETWORKS INC               | AMC Networks Inc                                                                 | CUSIP: 00164VAD5<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |   3007000 | PA      | $2816807.25   | 0.19%             | 2024-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMC NETWORKS INC               | AMC Networks Inc                                                                 | CUSIP: 00164VAE3<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |  10479000 | PA      | $7982378.25   | 0.55%             | 2025-08-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ARD FINANCE SA                 | ARD Finance SA                                                                   | CUSIP: 00191AAD8<br>LEI: 6354006P6QPGGPVJW880 | Long             | DBT              | CORP              | LU        |   1321210 | PA      | $921766.60    | 0.06%             | 2027-06-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC         | Acrisure LLC / Acrisure Finance Inc                                              | CUSIP: 00489LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4269000 | PA      | $3929156.52   | 0.27%             | 2025-11-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC         | Acrisure LLC / Acrisure Finance Inc                                              | CUSIP: 00489LAD5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4271000 | PA      | $4160771.00   | 0.29%             | 2026-08-01      | Fixed         | 10.12%                | No            |                  2 | On Loan: No      |
| ADIENT GLOBAL HOLDINGS         | Adient Global Holdings Ltd                                                       | CUSIP: 00687YAA3<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |    920000 | PA      | $857844.80    | 0.06%             | 2026-08-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA       | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                        | CUSIP: 00774MAK1<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   2634000 | PA      | $2609967.83   | 0.18%             | 2024-01-16      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| AIRCASTLE LTD                  | Aircastle Ltd                                                                    | CUSIP: 00928QAT8<br>LEI: 549300PNK8AKY3OIKP58 | Long             | DBT              | CORP              | BM        |   1080000 | PA      | $1040562.24   | 0.07%             | 2025-08-11      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY         | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 013092AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13234000 | PA      | $13535335.93  | 0.94%             | 2026-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY         | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 013092AF8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3565000 | PA      | $3257090.59   | 0.23%             | 2026-03-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| HOWMET AEROSPACE INC           | Howmet Aerospace Inc                                                             | CUSIP: 013817AW1<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |   5785000 | PA      | $5725414.50   | 0.40%             | 2024-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL               | Allied Universal Holdco LLC / Allied Universal Finance Corp                      | CUSIP: 019576AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5840000 | PA      | $5355630.40   | 0.37%             | 2026-07-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC             | Ally Financial Inc                                                               | CUSIP: 02005NBF6<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   3710000 | PA      | $3598794.68   | 0.25%             | 2025-11-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA               | Altice France SA/France                                                          | CUSIP: 02156LAA9<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |  13623000 | PA      | $12436981.62  | 0.86%             | 2027-02-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC        | American Axle & Manufacturing Inc                                                | CUSIP: 02406PAU4<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |   7872000 | PA      | $7114556.00   | 0.49%             | 2027-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC        | American Axle & Manufacturing Inc                                                | CUSIP: 02406PAY6<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |   3727000 | PA      | $3493702.73   | 0.24%             | 2026-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| AMERIGAS PART/FIN CORP         | AmeriGas Partners LP / AmeriGas Finance Corp                                     | CUSIP: 030981AH7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12986000 | PA      | $12625371.25  | 0.87%             | 2024-05-20      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| AMERIGAS PART/FIN CORP         | AmeriGas Partners LP / AmeriGas Finance Corp                                     | CUSIP: 030981AJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2300000 | PA      | $2187896.60   | 0.15%             | 2026-08-20      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| AMERIGAS PART/FIN CORP         | AmeriGas Partners LP / AmeriGas Finance Corp                                     | CUSIP: 030981AK0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    645000 | PA      | $619898.39    | 0.04%             | 2025-05-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PARK INTERMED HOLDINGS         | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer | CUSIP: 70052LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8980000 | PA      | $8988800.40   | 0.62%             | 2025-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| PATRICK INDUSTRIES INC         | Patrick Industries Inc                                                           | CUSIP: 703343AC7<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | DBT              | CORP              | US        |   2204000 | PA      | $2147883.07   | 0.15%             | 2027-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC          | PennyMac Financial Services Inc                                                  | CUSIP: 70932MAA5<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |   3920000 | PA      | $3539659.41   | 0.24%             | 2025-10-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PENSKE AUTOMOTIVE GROUP        | Penske Automotive Group Inc                                                      | CUSIP: 70959WAJ2<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | DBT              | CORP              | US        |   6370000 | PA      | $5921772.66   | 0.41%             | 2025-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INTL         | Williams Scotsman International Inc                                              | CUSIP: 71953LAA9<br>LEI: 549300V3TCHCBOBTGH07 | Long             | DBT              | CORP              | US        |   6649000 | PA      | $6592815.95   | 0.46%             | 2025-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| AVIENT CORP                    | Avient Corp                                                                      | CUSIP: 73179PAM8<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | DBT              | CORP              | US        |  10801000 | PA      | $10549562.01  | 0.73%             | 2025-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC              | Post Holdings Inc                                                                | CUSIP: 737446AM6<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |   3240000 | PA      | $3138069.60   | 0.22%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PRESIDIO HOLDING INC           | Presidio Holdings Inc                                                            | CUSIP: 74101XAF7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1857320.00   | 0.13%             | 2028-02-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| MODIVCARE INC                  | ModivCare Inc                                                                    | CUSIP: 743815AE2<br>LEI: 549300EFZIFW7F7I0Q28 | Long             | DBT              | CORP              | US        |   3520000 | PA      | $3310969.94   | 0.23%             | 2025-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| QVC INC                        | QVC Inc                                                                          | CUSIP: 747262AU7<br>LEI: 549300WBLU5NKPX5X472 | Long             | DBT              | CORP              | US        |   1252000 | PA      | $1024136.00   | 0.07%             | 2025-02-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| RLJ LODGING TRUST LP           | RLJ Lodging Trust LP                                                             | CUSIP: 74965LAA9<br>LEI: 549300RX5I8Z6I6LDZ74 | Long             | DBT              | CORP              | US        |   6307000 | PA      | $5619006.33   | 0.39%             | 2026-07-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| RP ESCROW ISSUER LLC           | RP Escrow Issuer LLC                                                             | CUSIP: 74969PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6835000 | PA      | $5228095.12   | 0.36%             | 2025-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC       | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                              | CUSIP: 77313LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2272000 | PA      | $1960690.56   | 0.14%             | 2026-10-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES        | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153AZ5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   8361000 | PA      | $8985566.70   | 0.62%             | 2025-06-01      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| SCIL IV LLC / SCIL USA H       | SCIL IV LLC / SCIL USA Holdings LLC                                              | CUSIP: 78397UAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2910000 | PA      | $2469862.50   | 0.17%             | 2026-11-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                   | Navient Corp                                                                     | CUSIP: 78442FET1<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |  10300000 | PA      | $10106866.97  | 0.70%             | 2024-03-25      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| SLM CORP                       | SLM Corp                                                                         | CUSIP: 78442PGE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1065000 | PA      | $907054.97    | 0.06%             | 2026-11-02      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| SPCM SA                        | SPCM SA                                                                          | CUSIP: 7846ELAD9<br>LEI: 969500F7036FEDYPRV54 | Long             | DBT              | CORP              | FR        |   2617000 | PA      | $2253878.17   | 0.16%             | 2027-03-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                 | Sabre GLBL Inc                                                                   | CUSIP: 78573NAC6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |   6405000 | PA      | $6391401.99   | 0.44%             | 2025-04-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                 | Sabre GLBL Inc                                                                   | CUSIP: 78573NAF9<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |    933000 | PA      | $893102.76    | 0.06%             | 2025-09-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                 | Sabre GLBL Inc                                                                   | CUSIP: 78573NAH5<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1030005.00   | 0.07%             | 2027-12-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| IHO VERWALTUNGS GMBH           | IHO Verwaltungs GmbH                                                             | CUSIP: 80627DAC0<br>LEI: 529900JL0HDVGZMUJF32 | Long             | DBT              | CORP              | DE        |   3135000 | PA      | $2717868.69   | 0.19%             | 2026-09-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SCIENTIFIC GAMES INTERNA       | Scientific Games International Inc                                               | CUSIP: 80874YBG4<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |  14203000 | PA      | $14514358.31  | 1.00%             | 2025-07-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| SEAGATE HDD CAYMAN             | Seagate HDD Cayman                                                               | CUSIP: 81180WAH4<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |   1631000 | PA      | $1624671.72   | 0.11%             | 2023-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SEAGATE HDD CAYMAN             | Seagate HDD Cayman                                                               | CUSIP: 81180WAT8<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |   1225000 | PA      | $1202850.97   | 0.08%             | 2024-03-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                | Sealed Air Corp                                                                  | CUSIP: 81211KAW0<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |   4359000 | PA      | $4290214.98   | 0.30%             | 2024-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                | Sealed Air Corp                                                                  | CUSIP: 81211KAX8<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |    205000 | PA      | $202439.12    | 0.01%             | 2025-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES BV        | Sensata Technologies BV                                                          | CUSIP: 81725WAH6<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |   4445000 | PA      | $4436512.98   | 0.31%             | 2024-11-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST       | Service Properties Trust                                                         | CUSIP: 81761LAA0<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |   3820000 | PA      | $3644950.64   | 0.25%             | 2025-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS LLC/FIN        | Shift4 Payments LLC / Shift4 Payments Finance Sub Inc                            | CUSIP: 82453AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2851000 | PA      | $2698243.42   | 0.19%             | 2026-11-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST        | Starwood Property Trust Inc                                                      | CUSIP: 85571BAU9<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |   2395000 | PA      | $2098606.78   | 0.15%             | 2026-07-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST        | Starwood Property Trust Inc                                                      | CUSIP: 85571BAW5<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |   3121000 | PA      | $2934272.29   | 0.20%             | 2024-12-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| STERICYCLE INC                 | Stericycle Inc                                                                   | CUSIP: 858912AF5<br>LEI: B8PTJH2P0AXSWSMP2136 | Long             | DBT              | CORP              | US        |  15956000 | PA      | $15662010.70  | 1.08%             | 2024-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SUMMIT MATERIALS LLC/FIN       | Summit Materials LLC / Summit Materials Finance Corp                             | CUSIP: 86614RAM9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2110000 | PA      | $2071368.09   | 0.14%             | 2027-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP/FINANCE CORP         | Sunoco LP / Sunoco Finance Corp                                                  | CUSIP: 86765LAQ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2341000 | PA      | $2309205.97   | 0.16%             | 2027-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SURGERY CENTER HOLDINGS        | Surgery Center Holdings Inc                                                      | CUSIP: 86881WAD4<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |   2907000 | PA      | $2962465.56   | 0.20%             | 2027-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                | Gen Digital Inc                                                                  | CUSIP: 871503AU2<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |  18275000 | PA      | $17817572.73  | 1.23%             | 2025-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN        | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAH4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2630000 | PA      | $2657812.25   | 0.18%             | 2025-10-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| TAYLOR MORR COMM/HLDGS         | Taylor Morrison Communities Inc / Taylor Morrison Holdings II Inc                | CUSIP: 877249AD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3455000 | PA      | $3445153.25   | 0.24%             | 2024-03-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| TEGNA INC                      | TEGNA Inc                                                                        | CUSIP: 87901JAF2<br>LEI: 549300YC5EDBGX85AO10 | Long             | DBT              | CORP              | US        |   3590000 | PA      | $3487237.90   | 0.24%             | 2026-03-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TEMPO ACQUISITION LLC/FI       | Tempo Acquisition LLC / Tempo Acquisition Finance Corp                           | CUSIP: 88023JAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5142000 | PA      | $5159675.63   | 0.36%             | 2025-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP          | Tenet Healthcare Corp                                                            | CUSIP: 88033GCS7<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    656000 | PA      | $640726.42    | 0.04%             | 2024-07-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP          | Tenet Healthcare Corp                                                            | CUSIP: 88033GCX6<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   7621000 | PA      | $7292836.46   | 0.50%             | 2027-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP          | Tenet Healthcare Corp                                                            | CUSIP: 88033GDC1<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |  13849000 | PA      | $13471158.98  | 0.93%             | 2024-09-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE        | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAD3<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   1670000 | PA      | $1635815.10   | 0.11%             | 2023-07-21      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE        | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAL5<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   8740000 | PA      | $8583885.16   | 0.59%             | 2024-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE        | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAN1<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   2400000 | PA      | $2390448.00   | 0.17%             | 2025-01-31      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                  | TransDigm Inc                                                                    | CUSIP: 893647BB2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |  10860000 | PA      | $10566259.05  | 0.73%             | 2026-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                  | TransDigm Inc                                                                    | CUSIP: 893647BE6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |  13029000 | PA      | $12877733.31  | 0.89%             | 2026-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                  | TransDigm Inc                                                                    | CUSIP: 893647BK2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   4503000 | PA      | $4577769.03   | 0.32%             | 2025-12-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM UK HOLDINGS          | TransDigm UK Holdings PLC                                                        | CUSIP: 89365DAB9<br>LEI: 549300JTYP71LZZSE903 | Long             | DBT              | CORP              | GB        |   5796000 | PA      | $5668856.92   | 0.39%             | 2026-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| TRINSEO OP / TRINSEO FIN       | Trinseo Materials Operating SCA / Trinseo Materials Finance Inc                  | CUSIP: 89668QAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |   8156000 | PA      | $6721196.48   | 0.47%             | 2025-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| TRIUMPH GROUP INC              | Triumph Group Inc                                                                | CUSIP: 896818AS0<br>LEI: 5493007L6S47Q14SL582 | Long             | DBT              | CORP              | US        |   2703000 | PA      | $2754492.15   | 0.19%             | 2024-06-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| TRIPADVISOR INC                | TripAdvisor Inc                                                                  | CUSIP: 896945AA0<br>LEI: 549300XVG45PT5BART17 | Long             | DBT              | CORP              | US        |  12192000 | PA      | $12065323.66  | 0.83%             | 2025-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                   | US Foods Inc                                                                     | CUSIP: 90290MAC5<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |  19168000 | PA      | $18998613.92  | 1.31%             | 2025-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC          | Uber Technologies Inc                                                            | CUSIP: 90353TAC4<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |  13705000 | PA      | $13779990.33  | 0.95%             | 2026-11-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC          | Uber Technologies Inc                                                            | CUSIP: 90353TAE0<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |   1690000 | PA      | $1692906.80   | 0.12%             | 2027-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC          | Uber Technologies Inc                                                            | CUSIP: 90353TAF7<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |   6705000 | PA      | $6711558.83   | 0.46%             | 2025-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL       | United Wholesale Mortgage LLC                                                    | CUSIP: 91153LAA5<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1172703.84   | 0.08%             | 2025-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UNITI GRP/UNITI HLD/CSL        | Uniti Group LP / Uniti Fiber Holdings Inc / CSL Capital LLC                      | CUSIP: 91327AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6790000 | PA      | $6586907.03   | 0.46%             | 2025-02-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS       | Univision Communications Inc                                                     | CUSIP: 914906AS1<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |  16973000 | PA      | $16199374.05  | 1.12%             | 2025-02-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS       | Univision Communications Inc                                                     | CUSIP: 914906AU6<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |   7180000 | PA      | $6942593.30   | 0.48%             | 2027-06-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| VAIL RESORTS INC               | Vail Resorts Inc                                                                 | CUSIP: 91879QAL3<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |  10459000 | PA      | $10476997.43  | 0.72%             | 2025-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC          | Bausch Health Cos Inc                                                            | CUSIP: 91911KAN2<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   3085000 | PA      | $2627113.97   | 0.18%             | 2025-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC          | Bausch Health Cos Inc                                                            | CUSIP: 91911KAP7<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   6470000 | PA      | $5149537.70   | 0.36%             | 2025-12-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| VERSCEND ESCROW CORP           | Verscend Escrow Corp                                                             | CUSIP: 92535WAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  26134000 | PA      | $25659929.24  | 1.78%             | 2026-08-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| VIASAT INC                     | Viasat Inc                                                                       | CUSIP: 92552VAK6<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |   7159000 | PA      | $6653342.65   | 0.46%             | 2025-09-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE         | VICI Properties LP / VICI Note Co Inc                                            | CUSIP: 92564RAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5240000 | PA      | $4891673.57   | 0.34%             | 2026-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE         | VICI Properties LP / VICI Note Co Inc                                            | CUSIP: 92564RAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1865000 | PA      | $1761417.90   | 0.12%             | 2025-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE         | VICI Properties LP / VICI Note Co Inc                                            | CUSIP: 92564RAF2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7810000 | PA      | $7768063.03   | 0.54%             | 2024-05-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| WILLIAM MORRIS ENDEAVOR EN     | William Morris Endeavor Entertainment LLC                                        | CUSIP: 96925HAF9<br>LEI: 5493008R7J9HEQ30DZ33 | Long             | LON              | CORP              | US        |   2786071 | PA      | $2733135.93   | 0.19%             | 2025-05-18      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| WILLIAM MORRIS ENDEAVOR EN     | William Morris Endeavor Entertainment LLC                                        | CUSIP: 96925HAF9<br>LEI: 5493008R7J9HEQ30DZ33 | Long             | LON              | CORP              | US        |    386270 | PA      | $378930.90    | 0.03%             | 2025-05-18      | Floating      | 7.14%                 | No            |                  2 | On Loan: No      |
| WILLIAM MORRIS ENDEAVOR EN     | William Morris Endeavor Entertainment LLC                                        | CUSIP: 96925HAF9<br>LEI: 5493008R7J9HEQ30DZ33 | Long             | LON              | CORP              | US        |    259037 | PA      | $254115.13    | 0.02%             | 2025-05-18      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT  CORP                | Open Text Corp                                                                   | CUSIP: 68371YAJ2<br>LEI: 549300HP7ONDQODZJV16 | Long             | LON              | CORP              | CA        |   2850000 | PA      | $2795379.75   | 0.19%             | 2025-05-30      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| ASURION LLC                    | Asurion LLC                                                                      | CUSIP: 04649VAW0<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |   5309042 | PA      | $5169679.67   | 0.36%             | 2024-11-03      | Floating      | 7.38%                 | No            |                  2 | On Loan: No      |
| DUN & BRADSTREET CORP          | Dun & Bradstreet Corp/The                                                        | CUSIP: 26483NAN0<br>LEI: RI37BMPWE56BCJ747E14 | Long             | LON              | CORP              | US        |   2877454 | PA      | $2856132.18   | 0.20%             | 2026-02-08      | Floating      | 7.29%                 | No            |                  2 | On Loan: No      |
| API GROUP DE INC               | APi Group DE Inc                                                                 | CUSIP: 00186XAB9<br>LEI: 549300XP4G7B4QYA0G83 | Long             | LON              | CORP              | US        |   2215146 | PA      | $2203604.84   | 0.15%             | 2026-10-01      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| CAMELOT FINANCE SA             | Camelot Finance SA                                                               | CUSIP: L2000AAC4<br>LEI: N/A                  | Long             | LON              | CORP              | LU        |    351260 | PA      | $346210.90    | 0.02%             | 2026-10-31      | Floating      | 7.38%                 | No            |                  2 | On Loan: No      |
| CAMELOT FINANCE SA             | Camelot Finance SA                                                               | CUSIP: L2000AAC4<br>LEI: N/A                  | Long             | LON              | CORP              | LU        |     25294 | PA      | $24929.99     | 0.00%             | 2026-10-31      | Floating      | 7.38%                 | No            |                  2 | On Loan: No      |
| CAMELOT FINANCE SA             | Camelot Finance SA                                                               | CUSIP: L2000AAC4<br>LEI: N/A                  | Long             | LON              | CORP              | LU        |    424921 | PA      | $418812.87    | 0.03%             | 2026-10-31      | Floating      | 7.38%                 | No            |                  2 | On Loan: No      |
| PRESIDIO HOLDING INC           | Presidio Holdings Inc                                                            | CUSIP: 74101YAD0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1005088 | PA      | $990956.79    | 0.07%             | 2026-12-19      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| PRESIDIO HOLDING INC           | Presidio Holdings Inc                                                            | CUSIP: 74101YAD0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     16107 | PA      | $15880.72     | 0.00%             | 2026-12-19      | Floating      | 7.89%                 | No            |                  2 | On Loan: No      |
| PRESIDIO HOLDING INC           | Presidio Holdings Inc                                                            | CUSIP: 74101YAD0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     25771 | PA      | $25409.14     | 0.00%             | 2026-12-19      | Floating      | 7.89%                 | No            |                  2 | On Loan: No      |
| RED VENTURES LLC               | Red Ventures LLC                                                                 | CUSIP: 75703UAH8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2680000 | PA      | $2667859.60   | 0.18%             | 2024-11-08      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| IRB HOLDING CORP               | IRB Holding Corp                                                                 | CUSIP: 44988LAF4<br>LEI: 549300HVW4WNWYBXN830 | Long             | LON              | CORP              | US        |  11266466 | PA      | $11183713.46  | 0.77%             | 2025-02-05      | Floating      | 7.13%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                  | TransDigm Inc                                                                    | CUSIP: 89364MBQ6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    855000 | PA      | $847326.38    | 0.06%             | 2025-05-30      | Floating      | 6.98%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                  | TransDigm Inc                                                                    | CUSIP: 89364MBR4<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |   1742508 | PA      | $1724647.28   | 0.12%             | 2025-12-09      | Floating      | 6.98%                 | No            |                  2 | On Loan: No      |
| NFP CORP                       | NFP Corp                                                                         | CUSIP: 62910PAF0<br>LEI: VO2L9FZNXDJNQNEYH039 | Long             | LON              | CORP              | US        |    435000 | PA      | $417134.55    | 0.03%             | 2027-02-13      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| CAESARS RESORT COLLECTIO       | Caesars Resort Collection LLC                                                    | CUSIP: 12769LAD1<br>LEI: 549300V3UCT773B1KR38 | Long             | LON              | CORP              | US        |   4230000 | PA      | $4224945.15   | 0.29%             | 2025-07-20      | Floating      | 7.88%                 | No            |                  2 | On Loan: No      |
| CAMELOT US ACQUISITION LLC     | Camelot US Acquisition LLC                                                       | CUSIP: L2000AAD2<br>LEI: 549300U6VBJHQP2SFL81 | Long             | LON              | CORP              | US        |   4162470 | PA      | $4105236.22   | 0.28%             | 2026-10-31      | Floating      | 7.38%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD          | HUB International Ltd                                                            | CUSIP: 44332EAU0<br>LEI: 549300JQT6ATTUNS5E06 | Long             | LON              | CORP              | US        |   8633449 | PA      | $8567705.43   | 0.59%             | 2025-04-25      | Floating      | 7.53%                 | No            |                  2 | On Loan: No      |
| UFC HOLDINGS LLC               | UFC Holdings LLC                                                                 | CUSIP: 90266UAJ2<br>LEI: 549300JEOTH7UMZ3C491 | Long             | LON              | CORP              | US        |   1113682 | PA      | $1101152.75   | 0.08%             | 2026-04-29      | Floating      | 7.11%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-23

**Name of Applicant:** Advisors Series Trust

**Signature:** /s/ Kevin Hayden

**Name of Signer:** Advisors Series Trust

**Title:** Treasurer & Vice President