# EDGAR Filing Document

**Accession Number:** 0001219360
**File Stem:** 0001099263-25-004535
**Filing Date:** 2025-11
**Character Count:** 382209
**Document Hash:** b2eaf312c269ffec353df4cb81221ad5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001099263-25-004535.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0001099263-25-004535

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PIMCO HIGH INCOME FUND
- **CENTRAL INDEX KEY:** 0001219360

**ORGANIZATION NAME:**
- **EIN:** 383676799
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21311
- **FILM NUMBER:** 251528526

**BUSINESS ADDRESS:**
- **STREET 1:** 1633 BROADWAY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019
- **BUSINESS PHONE:** 212-739-3000

**MAIL ADDRESS:**
- **STREET 1:** 1633 BROADWAY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019

## Nport-Ex

<br> Schedule of Investments PIMCO High Income Fund September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** |
|  | PRINCIPAL<br>AMOUNT<br>(000s) | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 107.8% ¤** |  |  |
| **LOAN PARTICIPATIONS AND ASSIGNMENTS 22.1%**  |  |  |
| **Altice France SA**<br>9.818% (TSFR3M + 5.500%) due 08/15/2028 «~ | $3069 | $2977 |
| **AP Core Holdings II LLC**<br>9.778% (TSFR1M + 5.500%) due 09/01/2027 ~ | 8142 | 7940 |
| **Clover Holdings 2 LLC**  |  |  |
| TBD% due 12/10/2029 µ | 909 | 907 |
| 7.942% (TSFR1M + 3.750%) due 12/09/2031 ~ | 6484 | 6498 |
| **Clover Holdings SPV III LLC**<br>15.000% due 12/09/2027 | 242 | 249 |
| **Coreweave Compute Acquisition Co. IV LLC**<br>TBD% - 10.723% (TSFR3M + 6.000%) due 05/16/2029 «~µ | 10800 | 11112 |
| **Envision Healthcare Corp.**<br>12.230% (TSFR3M + 7.875%) due 11/03/2028 «~ | 11545 | 11891 |
| **Finastra USA, Inc.**  |  |  |
| 8.038% (TSFR3M + 4.000%) due 09/15/2032 ~ | 4600 | 4586 |
| 11.038% (TSFR3M + 7.000%) due 09/15/2033 ~ | 400 | 399 |
| **Forward Air Corp.**<br>8.810% (TSFR3M + 4.500%) due 12/19/2030 ~ | 1797 | 1796 |
| **Gateway Casinos & Entertainment Ltd.**<br>10.276% (TSFR3M + 6.250%) due 12/18/2030 ~ | 5456 | 5461 |
| **iHeartCommunications, Inc.**<br>10.053% (TSFR1M + 5.775%) due 05/01/2029 ~ | 462 | 405 |
| **J&J Ventures Gaming LLC**<br>9.278% (TSFR1M + 5.000%) due 04/26/2028 «~ | 1257 | 1270 |
| **Lealand Finance Co. BV**<br>7.278% (TSFR1M + 3.000%) due 06/30/2027 ~ | 105 | 86 |
| **Lealand Finance Co. BV (5.278% Cash)**<br>5.728% - 5.278% due 12/31/2027 ~ | 584 | 419 |
| **Mercury Aggregator LP (19.000% PIK)**<br>19.000% due 04/03/2026 «(c) | 2554 | 751 |
| **MPH Acquisition Holdings LLC**  |  |  |
| 8.058% (TSFR3M + 3.750%) due 12/31/2030 ~ | 766 | 766 |
| 9.170% (TSFR3M + 4.600%) due 12/31/2030 ~ | 7547 | 6955 |
| **OCS Group Holdings Ltd.**<br>9.961% due 11/28/2031 | 6350 | 8544 |
| **Peraton Corp.**<br>8.013% (TSFR1M + 3.750%) due 02/01/2028 ~ | $9019 | 7630 |
| **Poseidon Bidco SASU**<br>7.000% (EUR003M + 5.000%) due 03/13/2030 ~ | 3000 | 1655 |
| **Project Nova**<br>7.250% due 08/31/2026 « | $200 | 200 |
| **Promotora de Informaciones SA**<br>7.494% (EUR003M + 5.470%) due 12/31/2029 «~ | 15537 | 17968 |
| **Steenbok Lux Finco 2 SARL**<br>10.000% due 06/30/2026 | 20672 | 7425 |
| **Stepstone Group MidCo 2 GmbH**  |  |  |
| 6.673% (EUR006M + 4.500%) due 04/26/2032 ~ | 8000 | 9263 |
| 8.608% (TSFR3M + 4.500%) due 12/19/2031 ~ | $1496 | 1423 |
| **Subcalidora 2**<br>7.750% (EUR003M + 5.750%) due 08/14/2029 «~ | 7000 | 8259 |
| **Syniverse Holdings, Inc.**<br>11.002% (TSFR3M + 7.000%) due 05/13/2027 ~ | $19243 | 18829 |
| **U.S. Renal Care, Inc.**<br>9.278% (TSFR1M + 5.000%) due 06/28/2028 ~ | 21062 | 20163 |
| **Unicorn BAY**<br>13.000% due 12/31/2026 « | 40394 | 5256 |
| **Westmoreland Coal Co.**<br>8.000% due 03/15/2029 « | $2650 | 1073 |
| **X Corp.**  |  |  |
| 9.500% due 10/26/2029 | 1750 | 1758 |
| 10.958% (TSFR3M + 6.500%) due 10/26/2029 ~ | 10404 | 10220 |
| Total Loan Participations and Assignments (Cost $193,739) |  | 184134 |
| **CORPORATE BONDS & NOTES 44.0%**  |  |  |
| **BANKING & FINANCE 5.8%**  |  |  |
| **Alamo Re Ltd.** <br>15.784% (T-BILL 1MO + 11.880%) due 06/08/2026 ~ | 300 | 316 |
| **Antares Holdings LP** <br>6.350% due 10/23/2029 (l) | 500 | 512 |

---

------

<br> Schedule of Investments PIMCO High Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Armor** **Holdco, Inc.** <br>8.500% due 11/15/2029 | 1900 | 1897 |
| **Atlantic Marine Corps Communities LLC** <br>5.383% due 02/15/2048 (l) | 3973 | 3333 |
| **BOI Finance BV** <br>7.500% due 02/16/2027 (l) | 3300 | 3987 |
| **Cape Lookout Re Ltd.** <br>12.609% (T-BILL 1MO + 8.702%) due 04/05/2027 ~ | $900 | 940 |
| **Claveau Re Ltd.** <br>4.004% (T-BILL 3MO + 0.100%) due 07/08/2028 «~ | 384 | 0 |
| **Credicorp Capital Sociedad Titulizadora SA** <br>9.700% due 03/05/2045 | 1000 | 305 |
| **Credit Suisse AG AT1 Claim**  | $600 | 78 |
| **Diversified Healthcare Trust** <br>7.250% due 10/15/2030 | 400 | 407 |
| **East Lane Re VII Ltd.** <br>12.822% (T-BILL 3MO + 8.890%) due 03/31/2026 ~ | 250 | 254 |
| **Encore Capital Group, Inc.** <br>6.625% due 04/15/2031 (b) | 2000 | 1995 |
| **Everglades Re II Ltd.**  |  |  |
| 14.409% (GSMMUSTI + 10.500%) due 05/13/2031 ~  | 400 | 422 |
| 15.404% (GSMMUSTI + 11.500%) due 05/13/2031 ~  | 400 | 422 |
| 16.654% (T-BILL 1MO + 12.750%) due 05/13/2031 ~  | 400 | 421 |
| **Ford Motor Credit Co. LLC**  |  |  |
| 5.918% due 03/20/2028  | 300 | 305 |
| 6.183% (SOFRRATE + 2.030%) due 03/20/2028 ~  | 900 | 901 |
| **Greengrove RE Ltd.** <br>11.654% (T-BILL 1MO + 7.750%) due 04/08/2032 ~ | 250 | 250 |
| **GSPA Monetization Trust** <br>6.422% due 10/09/2029 | 2973 | 3001 |
| **HA Sustainable Infrastructure Capital, Inc.**  |  |  |
| 6.150% due 01/15/2031 (l)  | 1000 | 1028 |
| 6.375% due 07/01/2034 (l)  | 1000 | 1018 |
| **Hestia Re Ltd.** <br>4.004% (T-BILL 1MO + 0.100%) due 04/22/2029 ~ | 27 | 15 |
| **Hudson Pacific Properties LP** <br>5.950% due 02/15/2028 (l) | 100 | 99 |
| **Integrity RE III Ltd.** <br>29.404% (T-BILL 1MO + 25.500%) due 06/06/2027 ~ | 250 | 281 |
| **Integrity Re Ltd.**  |  |  |
| 21.138% (T-BILL 1MO + 17.234%) due 06/08/2026 ~  | 450 | 494 |
| 26.703% (T-BILL 1MO + 22.796%) due 06/08/2026 ~  | 450 | 502 |
| **ION Platform Finance SARL**  |  |  |
| 6.500% due 09/30/2030 (b)  | 300 | 352 |
| 6.875% due 09/30/2032 (b)  | 200 | 235 |
| **ION Platform Finance U.S., Inc.** <br>7.875% due 09/30/2032 (b) | $1400 | 1391 |
| **Kennedy Wilson Europe Real Estate Ltd.** <br>3.250% due 11/12/2025 | 316 | 370 |
| **Long Walk Reinsurance Ltd.** <br>14.142% (T-BILL 3MO + 10.240%) due 01/30/2031 ~ | $800 | 815 |
| **Luca RE Ltd.** <br>11.154% (T-BILL 3MO + 7.250%) due 07/22/2031 ~ | 350 | 350 |
| **Marex Group PLC** <br>6.404% due 11/04/2029 | 300 | 309 |
| **Nature Coast Re Ltd.** <br>13.654% (T-BILL 3MO + 9.750%) due 04/10/2033 ~ | 250 | 262 |
| **New Immo Holding SA** <br>3.250% due 07/23/2027 | 1200 | 1390 |
| **Polestar Re Ltd.**  |  |  |
| 14.402% (T-BILL 3MO + 10.500%) due 01/07/2028 ~  | $300 | 311 |
| 17.154% (T-BILL 3MO + 13.250%) due 01/07/2027 ~  | 900 | 937 |
| **Sanders Re III Ltd.** <br>16.224% (BRMMUSDF + 12.320%) due 04/09/2029 ~ | 1545 | 966 |
| **Service Properties Trust** <br>0.000% due 09/30/2028 (g) | 600 | 530 |
| **Titanium 2l Bondco SARL** <br>6.250% due 01/14/2031 | 8545 | 2636 |
| **Torrey Pines Re Ltd.**  |  |  |
| 9.940% (JMMMUSTF + 6.036%) due 06/07/2032 ~  | $250 | 261 |
| 11.010% (JMMMUSTF + 7.106%) due 06/07/2032 ~  | 250 | 260 |
| **Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC** <br>6.000% due 01/15/2030 | 9463 | 8577 |
| **Uniti Group LP/Uniti Group Finance 2019, Inc./CSL Capital LLC** <br>6.500% due 02/15/2029 | 3500 | 3290 |
| **Ursa Re Ltd.**  |  |  |
| 11.404% (T-BILL 3MO + 7.500%) due 02/22/2028 ~  | 400 | 404 |
| 13.154% (JMMMUSTF + 9.250%) due 12/07/2028 ~  | 1000 | 1044 |
| **Voyager Aviation Holdings LLC** <br>8.500% due 05/09/2026 ^«(d) | 3258 | 0 |

---

------

<br> Schedule of Investments PIMCO High Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Winston** **RE Ltd.** <br>15.594% (T-BILL 3MO + 11.690%) due 02/26/2031 ~ | 700 | 756 |
|  |  | 48629 |
| **INDUSTRIALS 34.1%**  |  |  |
| **Altice France Holding SA**  |  |  |
| 8.000% due 05/15/2027  | 6700 | 2855 |
| 10.500% due 05/15/2027  | $5300 | 1922 |
| **Altice France SA**  |  |  |
| 3.375% due 01/15/2028  | 2000 | 2025 |
| 5.125% due 01/15/2029  | $600 | 516 |
| 5.125% due 07/15/2029  | 3665 | 3148 |
| 5.500% due 01/15/2028  | 2900 | 2567 |
| 5.500% due 10/15/2029  | 1200 | 1044 |
| 8.125% due 02/01/2027  | 1000 | 957 |
| **ams-OSRAM AG**  |  |  |
| 10.500% due 03/30/2029  | 500 | 628 |
| 12.250% due 03/30/2029  | $700 | 754 |
| **Aston Martin Capital Holdings Ltd.** <br>10.000% due 03/31/2029 (l) | 1500 | 1470 |
| **Beignet** <br>6.850% due 06/01/2049 «(b) | 16570 | 16570 |
| **BKV Upstream Midstream LLC** <br>7.500% due 10/15/2030 | 400 | 400 |
| **Block, Inc.** <br>6.000% due 08/15/2033 | 500 | 512 |
| **Carvana Co.** <br>9.000% due 06/01/2031 | 1920 | 2175 |
| **Central Parent LLC/CDK Global II LLC/CDK Financing Co., Inc.** <br>8.000% due 06/15/2029 (l) | 5700 | 5030 |
| **Central Parent, Inc./CDK Global, Inc.** <br>7.250% due 06/15/2029 (l) | 3700 | 3200 |
| **Cheplapharm Arzneimittel GmbH** <br>7.500% due 05/15/2030 (l) | 5600 | 6818 |
| **Chord Energy Corp.** <br>6.000% due 10/01/2030 | $700 | 696 |
| **CHS/Community Health Systems, Inc.**  |  |  |
| 9.750% due 01/15/2034  | 2380 | 2441 |
| 10.875% due 01/15/2032  | 1300 | 1378 |
| **Cleveland-Cliffs, Inc.** <br>7.625% due 01/15/2034 | 400 | 412 |
| **Cogent Communications Group LLC/Cogent Finance, Inc.**  |  |  |
| 6.500% due 07/01/2032  | 6300 | 6128 |
| 7.000% due 06/15/2027  | 1100 | 1098 |
| **CoreWeave, Inc.** <br>9.000% due 02/01/2031 | 800 | 821 |
| **DISH DBS Corp.**  |  |  |
| 5.250% due 12/01/2026  | 6650 | 6540 |
| 5.750% due 12/01/2028  | 12450 | 11946 |
| 7.750% due 07/01/2026  | 5500 | 5455 |
| **Ecopetrol SA**  |  |  |
| 4.625% due 11/02/2031 (l)  | 5500 | 4937 |
| 7.750% due 02/01/2032 (l)  | 14600 | 15117 |
| 8.375% due 01/19/2036  | 260 | 269 |
| **Energizer Holdings, Inc.** <br>6.000% due 09/15/2033 | 1800 | 1763 |
| **Flora Food Management BV** <br>6.875% due 07/02/2029 | 1000 | 1176 |
| **Ford Motor Co.** <br>7.700% due 05/15/2097 (l) | $7745 | 8186 |
| **General Shopping Investments Ltd.** <br>0.000% (US0003M + 11.808%) due 03/20/2026 ~(i) | 2500 | 162 |
| **Grupo Nutresa SA** <br>8.000% due 05/12/2030 (l) | 700 | 751 |
| **HCA, Inc.** <br>7.500% due 11/15/2095 (l) | 1746 | 1945 |
| **HF Sinclair Corp.** <br>6.250% due 01/15/2035 (l) | 1900 | 1987 |
| **Incora Intermediate II LLC** <br>0.000% (SOFRRATE + 8.000%) due 01/31/2030 «~ | 9523 | 9523 |
| **Incora Top Holdco LLC** <br>6.000% due 01/30/2033 «~(k) | 6943 | 11232 |
| **Intralot Capital Luxembourg SA**  |  |  |
| 6.500% due 10/15/2031 •  | 1800 | 2119 |
| 6.750% due 10/15/2031  | 1300 | 1541 |
| **JetBlue Airways Corp./JetBlue Loyalty LP** <br>9.875% due 09/20/2031 | $3133 | 3180 |
| **Kronos International, Inc.** <br>9.500% due 03/15/2029 | 3000 | 3724 |
| **Manuchar Group SARL** <br>7.014% due 07/07/2032 •  | 500 | 581 |
| **Motion Finco SARL** <br>8.375% due 02/15/2032 | $400 | 346 |
| **MPH Acquisition Holdings LLC** <br>5.750% due 12/31/2030 | 6200 | 5419 |

---

------

<br> Schedule of Investments PIMCO High Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **New** **Albertsons LP** <br>6.570% due 02/23/2028 | 4021 | 4069 |
| **Newfold Digital Holdings Group, Inc.**  |  |  |
| 6.000% due 02/15/2029 «  | 1200 | 750 |
| 11.750% due 10/15/2028 «  | 500 | 355 |
| **Nissan Motor Co. Ltd.**  |  |  |
| 4.810% due 09/17/2030 (l)  | 8700 | 8201 |
| 7.500% due 07/17/2030  | 500 | 525 |
| **Noble Finance II LLC** <br>8.000% due 04/15/2030 | 11725 | 12145 |
| **Ocado Group PLC**  |  |  |
| 10.500% due 08/08/2029  | 1750 | 2352 |
| 11.000% due 06/15/2030 (l)  | 2950 | 3991 |
| **Petroleos Mexicanos**  |  |  |
| 6.700% due 02/16/2032  | $3463 | 3434 |
| 6.750% due 09/21/2047 (l)  | 1098 | 907 |
| 6.840% due 01/23/2030  | 1100 | 1120 |
| 8.750% due 06/02/2029 (l)  | 1257 | 1355 |
| **Prime Healthcare Services, Inc.** <br>9.375% due 09/01/2029 | 1800 | 1874 |
| **Thames Water Super Senior Issuer PLC** <br>9.750% due 10/10/2027 | 10 | 16 |
| **Thames Water Utilities Finance PLC** <br>6.500% due 02/09/2034 | 100 | 95 |
| **Thames Water Utilities Ltd.** <br>0.000% due 03/22/2027 (g) | 1 | 1 |
| **Topaz Solar Farms LLC**  |  |  |
| 4.875% due 09/30/2039 (l)  | $1797 | 1581 |
| 5.750% due 09/30/2039  | 4674 | 4741 |
| **Toucan FinCo Ltd./Toucan FinCo Can, Inc./Toucan FinCo U.S. LLC** <br>8.250% due 05/15/2030 | 1400 | 1570 |
| **Transocean International Ltd.** <br>7.875% due 10/15/2032 (b) | $1100 | 1111 |
| **U.S. Renal Care, Inc.** <br>10.625% due 06/28/2028 | 1001 | 876 |
| **Ubisoft Entertainment SA** <br>0.878% due 11/24/2027 | 1000 | 1097 |
| **Uzbekneftegaz JSC** <br>8.750% due 05/07/2030 | $3600 | 3854 |
| **Valaris Ltd.** <br>8.375% due 04/30/2030 | 11311 | 11747 |
| **Vale SA** <br>0.000% due 12/29/2049 ~(i) | 120000 | 8093 |
| **Vedanta Resources Finance II PLC** <br>9.125% due 10/15/2032 (b) | $1400 | 1400 |
| **Venture Global LNG, Inc.**  |  |  |
| 7.000% due 01/15/2030  | 2200 | 2278 |
| 8.125% due 06/01/2028  | 900 | 932 |
| 9.500% due 02/01/2029 (l)  | 4709 | 5192 |
| 9.875% due 02/01/2032  | 2280 | 2484 |
| **Venture Global Plaquemines LNG LLC**  |  |  |
| 6.500% due 01/15/2034  | 800 | 843 |
| 6.750% due 01/15/2036  | 800 | 850 |
| **Viridien**  |  |  |
| 8.500% due 10/15/2030  | 2400 | 2927 |
| 10.000% due 10/15/2030  | $4000 | 4115 |
| **Vmed O2 U.K. Financing I PLC**  |  |  |
| 5.625% due 04/15/2032  | 3600 | 4349 |
| 7.750% due 04/15/2032  | $3400 | 3576 |
| **Wayfair LLC** <br>7.750% due 09/15/2030 (l) | 7700 | 8095 |
| **WBI Operating LLC**  |  |  |
| 6.250% due 10/15/2030 (b)  | 800 | 801 |
| 6.500% due 10/15/2033 (b)  | 2400 | 2397 |
| **Weatherford International Ltd.** <br>6.750% due 10/15/2033 (b) | 1400 | 1402 |
| **Yinson Bergenia Production BV** <br>8.498% due 01/31/2045 | 1400 | 1504 |
| **Yinson Boronia Production BV** <br>8.947% due 07/31/2042 | 1374 | 1531 |
|  |  | 284000 |
| **UTILITIES 4.1%**  |  |  |
| **Comision Ejecutiva Hidroelectrica del Rio Lempa** <br>8.650% due 01/24/2033 | 400 | 419 |
| **Edison International**  |  |  |
| 5.250% due 11/15/2028 (l)  | 1300 | 1311 |
| 6.250% due 03/15/2030 (l)  | 200 | 208 |
| **FORESEA Holding SA** <br>7.500% due 06/15/2030 | 3000 | 2939 |
| **NGD Holdings BV** <br>6.750% due 12/31/2026 | 647 | 589 |
| **OI SA (10.000% Cash or 6.000% PIK and 7.500% Cash or 13.500% PIK)** <br>10.000% due 06/30/2027 (c) | 13934 | 9196 |

---

------

<br> Schedule of Investments PIMCO High Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **OI** **SA (8.500% PIK)** <br>8.500% due 12/31/2028 (c) | 29863 | 896 |
| **Peru LNG SRL** <br>5.375% due 03/22/2030 | 6526 | 6267 |
| **Qwest Corp.** <br>7.375% due 05/01/2030 | 5130 | 5055 |
| **SW Finance I PLC**  |  |  |
| 1.625% due 03/30/2027  | 2300 | 2903 |
| 2.375% due 05/28/2028  | 3500 | 4314 |
|  |  | 34097 |
| Total Corporate Bonds & Notes (Cost $391,627) |  | 366726 |
| **CONVERTIBLE BONDS & NOTES 2.5%**  |  |  |
| **INDUSTRIALS 2.5%**  |  |  |
| **ams-OSRAM AG** <br>2.125% due 11/03/2027 | 14000 | 15759 |
| **DISH Network Corp.** <br>3.375% due 08/15/2026 | $5100 | 4939 |
| Total Convertible Bonds & Notes (Cost $20,686) |  | 20698 |
| **MUNICIPAL BONDS & NOTES 1.9%**  |  |  |
| **MICHIGAN 0.2%**  |  |  |
| **Detroit, Michigan General Obligation Bonds, Series 2014** <br>4.000% due 04/01/2044 | 2287 | 1802 |
| **TEXAS 1.0%**  |  |  |
| **El Paso Downtown Development Corp. Texas Revenue Bonds, Series 2013** <br>7.250% due 08/15/2043 | 7175 | 7939 |
| **WEST VIRGINIA 0.7%**  |  |  |
| **Tobacco Settlement Finance Authority, West Virginia Revenue Bonds, Series 2007** <br>0.000% due 06/01/2047 (g) | 66200 | 6187 |
| Total Municipal Bonds & Notes (Cost $18,069) |  | 15928 |
| **U.S. GOVERNMENT AGENCIES 3.4%**  |  |  |
| **Federal Home Loan Mortgage Corp. Military Housing Bonds Resecuritization Trust Certificates**<br>6.154% due 11/25/2055 «~ | 12690 | 8424 |
| **Federal Home Loan Mortgage Corp. REMICS**  |  |  |
| 1.613% due 07/15/2035 •(a) | 289 | 23 |
| 1.629% due 06/25/2050 •(a) | 2835 | 348 |
| 1.713% due 02/15/2042 •(a) | 384 | 31 |
| 2.653% due 08/15/2036 •(a) | 177 | 24 |
| 4.027% due 05/15/2033 •  | 16 | 17 |
| 5.000% due 06/15/2033 ~(a) | 336 | 31 |
| **Federal Home Loan Mortgage Corp. STACR REMICS Trust**  |  |  |
| 11.856% due 10/25/2041 •  | 5350 | 5619 |
| 12.156% due 11/25/2041 •  | 6500 | 6893 |
| 12.856% due 02/25/2042 •  | 2200 | 2383 |
| **Federal National Mortgage Association Connecticut Avenue Securities Trust**  |  |  |
| 9.856% due 12/25/2041 •  | 1200 | 1243 |
| 10.356% due 12/25/2041 •  | 2700 | 2822 |
| **Federal National Mortgage Association REMICS**  |  |  |
| 1.629% due 07/25/2050 •(a) | 2685 | 337 |
| 3.500% due 09/25/2027 (a) | 19 | 0 |
| 4.000% due 06/25/2050 (a) | 1685 | 327 |
| 10.000% due 01/25/2034 •  | 83 | 87 |
| **Government National Mortgage Association REMICS**  |  |  |
| 3.500% due 06/20/2042 - 03/20/2043 (a) | 391 | 61 |
| 4.500% due 07/20/2042 (a) | 51 | 6 |
| 5.000% due 09/20/2042 (a) | 96 | 12 |
| **Uniform Mortgage-Backed Security, TBA**<br>3.000% due 10/01/2055 | 100 | 88 |
| Total U.S. Government Agencies (Cost $30,405) |  | 28776 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 9.0%**  |  |  |
| **Adjustable Rate Mortgage Trust** <br>4.612% due 05/25/2036 •  | 2899 | 1188 |
| **Atrium Hotel Portfolio Trust** <br>5.948% due 12/15/2036 •  | 5500 | 5406 |
| **Banc of America Alternative Loan Trust**  |  |  |
| 1.328% due 06/25/2046 •(a)  | 1927 | 154 |
| 2.368% due 06/25/2037 •(a)  | 1624 | 208 |
| 4.632% due 06/25/2037 •  | 1496 | 1086 |
| **Banc of America Funding Trust**  |  |  |
| 6.000% due 07/25/2037  | 255 | 217 |
| 6.250% due 10/26/2036  | 3494 | 1275 |

---

------

<br> Schedule of Investments PIMCO High Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Banc** **of America Mortgage Trust** <br>5.046% due 02/25/2036 ~ | 5 | 4 |
| **BCAP LLC Trust**  |  |  |
| 4.480% due 03/26/2037 þ  | 1124 | 1862 |
| 6.000% due 05/26/2037 ~  | 4162 | 1690 |
| **Benchmark Mortgage Trust** <br>3.555% due 08/15/2052 ~ | 1500 | 1482 |
| **CALI Mortgage Trust** <br>3.957% due 03/10/2039 | 2200 | 2112 |
| **CD Mortgage Trust** <br>5.688% due 10/15/2048 | 102 | 96 |
| **Chase Mortgage Finance Trust**  |  |  |
| 4.469% due 09/25/2036 ~  | 28 | 24 |
| 4.838% due 12/25/2035 ~  | 6 | 6 |
| **CHL Mortgage Pass-Through Trust**  |  |  |
| 1.078% due 12/25/2036 •(a)  | 1600 | 147 |
| 4.115% due 09/20/2036 ~  | 178 | 158 |
| 4.593% due 09/25/2047 ~  | 13 | 12 |
| **Citigroup Mortgage Loan Trust, Inc.**  |  |  |
| 5.016% due 11/25/2035 ~  | 8754 | 4297 |
| 5.059% due 07/25/2037 ~  | 48 | 43 |
| 6.500% due 09/25/2036  | 2117 | 1066 |
| **CLNY Trust**  |  |  |
| 6.613% due 11/15/2038 •  | 1700 | 1644 |
| 7.309% due 11/15/2038 •  | 1300 | 1206 |
| **Countrywide Alternative Loan Trust**  |  |  |
| 0.728% due 04/25/2035 •(a)  | 1619 | 97 |
| 4.753% due 02/25/2037 ~  | 67 | 59 |
| 4.772% due 12/25/2046 •  | 1193 | 1018 |
| 6.000% due 02/25/2037  | 3987 | 1451 |
| 6.250% due 12/25/2036 •  | 2122 | 858 |
| 6.500% due 06/25/2036  | 589 | 271 |
| **Credit Suisse First Boston Mortgage Securities Corp.** <br>6.000% due 01/25/2036 | 1262 | 725 |
| **CSMC Trust**  |  |  |
| 3.431% due 11/10/2032  | 1200 | 961 |
| 8.794% due 07/15/2032 •  | 950 | 946 |
| **Eurosail-U.K. PLC**  |  |  |
| 5.455% due 06/13/2045 •  | 3347 | 3727 |
| 8.105% due 06/13/2045 •  | 988 | 1106 |
| **HarborView Mortgage Loan Trust**  |  |  |
| 4.007% due 08/19/2036 ~  | $78 | 66 |
| 5.509% due 08/19/2036 ~  | 1 | 1 |
| **Hilton USA Trust** <br>2.828% due 11/05/2035 | 900 | 755 |
| **IM Pastor 3 FTH** <br>2.169% due 03/22/2043 •  | 1683 | 1750 |
| **JP Morgan Alternative Loan Trust** <br>4.157% due 03/25/2037 ~ | $2486 | 2166 |
| **JP Morgan Chase Commercial Mortgage Securities Trust**  |  |  |
| 5.797% due 11/15/2035 •  | 1300 | 1123 |
| 6.015% due 03/15/2036 •  | 1750 | 1274 |
| 6.147% due 11/15/2035 •  | 600 | 444 |
| **JP Morgan Mortgage Trust**  |  |  |
| 2.348% due 01/25/2037 •(a)  | 13178 | 1911 |
| 4.063% due 07/27/2037 ~  | 3898 | 3321 |
| **Lehman XS Trust** <br>4.712% due 06/25/2047 •  | 993 | 937 |
| **New Orleans Hotel Trust**  |  |  |
| 5.787% due 04/15/2032 •  | 1000 | 982 |
| 7.887% due 04/15/2032 •  | 2282 | 2232 |
| **Nomura Asset Acceptance Corp. Alternative Loan Trust** <br>4.520% due 04/25/2036 ~ | 2454 | 2179 |
| **Nomura Resecuritization Trust** <br>3.726% due 07/26/2035 ~ | 3716 | 3330 |
| **PRPM LLC** <br>5.503% due 08/25/2030 þ | 996 | 999 |
| **Residential Asset Securitization Trust**  |  |  |
| 4.672% due 01/25/2046 •  | 165 | 44 |
| 6.250% due 09/25/2037  | 4542 | 1687 |
| 6.500% due 08/25/2036  | 790 | 219 |
| **SG Commercial Mortgage Securities Trust** <br>2.937% due 03/15/2037 | 1400 | 1310 |
| **Structured Adjustable Rate Mortgage Loan Trust**  |  |  |
| 4.322% due 01/25/2036 ~  | 85 | 46 |
| 4.826% due 04/25/2047 ~  | 258 | 97 |
| **Structured Asset Mortgage Investments II Trust** <br>4.652% due 07/25/2046 •  | 3928 | 3154 |
| **WaMu Mortgage Pass-Through Certificates Trust** <br>3.411% due 05/25/2037 ~ | 51 | 42 |
| **Washington Mutual Mortgage Pass-Through Certificates WMALT Trust**  |  |  |
| 2.408% due 04/25/2037 •(a)  | 6425 | 1275 |
| 6.500% due 03/25/2036  | 3825 | 2922 |
| **WSTN Trust**  |  |  |
| 7.958% due 07/05/2037 ~  | 1600 | 1628 |
| 8.748% due 07/05/2037 ~  | 1600 | 1611 |

---

------

<br> Schedule of Investments PIMCO High Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| 10.174% due 07/05/2037 ~  | 1300 | 1320 |
| Total Non-Agency Mortgage-Backed Securities (Cost $82,812) |  | 75427 |
| **ASSET-BACKED SECURITIES 6.5%**  |  |  |
| **AUTOMOBILE ABS OTHER 0.4%**  |  |  |
| **Ally Bank Auto Credit-Linked Notes**  |  |  |
| 6.066% due 06/15/2033  | 1580 | 1586 |
| 6.942% due 06/15/2033  | 697 | 702 |
| 10.219% due 06/15/2033  | 1208 | 1221 |
|  |  | 3509 |
| **HOME EQUITY OTHER 3.0%**  |  |  |
| **ACE Securities Corp. Home Equity Loan Trust** <br>4.552% due 07/25/2036 •  | 1392 | 1151 |
| **Countrywide Asset-Backed Certificates Trust** <br>4.677% due 09/25/2046 •  | 12428 | 10174 |
| **Merrill Lynch Mortgage Investors Trust** <br>4.592% due 04/25/2037 •  | 524 | 246 |
| **Morgan Stanley Mortgage Loan Trust**  |  |  |
| 5.695% due 11/25/2036 •  | 935 | 343 |
| 6.465% due 09/25/2046 þ  | 5884 | 1931 |
| **People's Financial Realty Mortgage Securities Trust** <br>4.432% due 09/25/2036 •  | 19355 | 3520 |
| **Renaissance Home Equity Loan Trust**  |  |  |
| 6.998% due 09/25/2037 þ  | 6217 | 2450 |
| 7.238% due 09/25/2037 þ  | 5379 | 2119 |
| **Truman Capital Mortgage Loan Trust** <br>8.397% due 01/25/2034 •  | 2652 | 2557 |
| **Washington Mutual Asset-Backed Certificates WMABS Trust** <br>4.572% due 05/25/2036 •  | 125 | 98 |
|  |  | 24589 |
| **WHOLE LOAN COLLATERAL 1.2%**  |  |  |
| **First Franklin Mortgage Loan Trust** <br>5.142% due 06/25/2036 •  | 3146 | 2980 |
| **Specialty Underwriting & Residential Finance Trust** <br>5.247% due 06/25/2036 •  | 8070 | 6703 |
|  |  | 9683 |
| **OTHER ABS 1.9%**  |  |  |
| **Avoca CLO XIII DAC** <br>0.000% due 04/15/2034 ~ | 2150 | 1248 |
| **Belle Haven ABS CDO Ltd.** <br>7.750% due 07/05/2046 •  | $185947 | 428 |
| **Carlyle Global Market Strategies Euro CLO DAC**  |  |  |
| 0.000% due 01/25/2032 ~  | 2200 | 720 |
| 0.000% due 04/15/2038 ~  | 548 | 427 |
| **Carlyle U.S. CLO Ltd.** <br>0.000% due 10/15/2031 ~ | $4200 | 292 |
| **CIFC Funding Ltd.**  |  |  |
| 0.000% due 04/24/2030 ~  | 4000 | 666 |
| 0.000% due 03/31/2038 ~  | 2441 | 1494 |
| **Cork Street CLO DAC** <br>0.000% due 11/27/2028 ~ | 700 | 97 |
| **CVC Cordatus Loan Fund VI DAC** <br>0.000% due 04/15/2032 ~ | 3120 | 925 |
| **Duke Funding V Ltd.** <br>8.140% due 08/07/2033 •  | $13523 | 1612 |
| **Glacier Funding CDO III Ltd.** <br>7.770% due 08/04/2035 •  | 6310 | 505 |
| **Man GLG Euro CLO I DAC** <br>0.000% due 10/15/2030 ~ | 3371 | 4 |
| 0.000% due 12/15/2028 «(g)  | $24 | 0 |
| 0.000% due 04/16/2029 «(g)  | 7 | 0 |
| 0.000% due 07/16/2029 «(g)  | 10 | 0 |
| **Segovia European CLO DAC** <br>0.000% due 04/15/2035 ~ | 1100 | 397 |
| **Sherwood Funding CDO Ltd.** <br>7.860% due 11/06/2039 •  | $31208 | 5924 |
| **SLM Student Loan Trust** <br>0.000% due 01/25/2042 «(g) | 2 | 298 |

---

------

<br> Schedule of Investments PIMCO High Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **SMB** **Private Education Loan Trust** <br>0.000% due 10/15/2048 «(g) | 5 | 1043 |
|  |  | 16080 |
| Total Asset-Backed Securities (Cost $121,069) |  | 53861 |
| **SOVEREIGN ISSUES 6.2%**  |  |  |
| **Argentina Bonar Bonds** <br>0.750% due 07/09/2030 þ | 7215 | 3696 |
| **Argentina Republic Government International Bonds**  |  |  |
| 1.000% due 07/09/2029  | 131 | 95 |
| 3.500% due 07/09/2041 þ  | 9486 | 4621 |
| 4.125% due 07/09/2046 þ  | 110 | 58 |
| 5.000% due 01/09/2038 þ  | 1326 | 748 |
| **Avenir Issuer IV Ireland DAC** <br>6.000% due 10/25/2027 | 1018 | 983 |
| **Colombia Government International Bonds**  |  |  |
| 3.750% due 09/19/2028  | 400 | 469 |
| 5.000% due 09/19/2032  | 400 | 464 |
| 5.625% due 02/19/2036  | 400 | 455 |
| **Dominican Republic Central Bank Notes** <br>13.000% due 01/30/2026 | 16700 | 271 |
| **Dominican Republic International Bonds**  |  |  |
| 10.500% due 03/15/2037 (l)  | 468600 | 8071 |
| 10.750% due 06/01/2036 (l)  | 25900 | 451 |
| 11.250% due 09/15/2035 (l)  | 68200 | 1212 |
| **Egypt Government International Bonds** <br>6.375% due 04/11/2031 | 300 | 338 |
| **El Salvador Government International Bonds**  |  |  |
| 8.625% due 02/28/2029  | $2500 | 2678 |
| 9.250% due 04/17/2030  | 4300 | 4703 |
| **Ghana Government International Bonds**  |  |  |
| 0.000% due 07/03/2026 (g)  | 22 | 22 |
| 0.000% due 01/03/2030 (g)  | 67 | 57 |
| 5.000% due 07/03/2029 þ  | 339 | 331 |
| 5.000% due 07/03/2035 þ  | 487 | 412 |
| **Hellenic Republic Government Bonds**  |  |  |
| 2.000% due 04/22/2027  | 55 | 65 |
| 3.900% due 01/30/2033  | 122 | 151 |
| 4.000% due 01/30/2037  | 96 | 117 |
| 4.200% due 01/30/2042  | 119 | 147 |
| **Peru Government International Bonds**  |  |  |
| 6.900% due 08/12/2037  | 1800 | 542 |
| 6.950% due 08/12/2031  | 2801 | 894 |
| **Romania Government International Bonds**  |  |  |
| 5.125% due 09/24/2031  | 1700 | 1994 |
| 5.250% due 05/30/2032  | 1000 | 1173 |
| 5.625% due 05/30/2037  | 1000 | 1124 |
| 5.875% due 07/11/2032 (l)  | 2600 | 3128 |
| 6.250% due 09/10/2034  | 400 | 485 |
| 6.375% due 09/18/2033  | 1000 | 1233 |
| 6.750% due 07/11/2039  | 2300 | 2755 |
| **Turkiye Government Bonds**  |  |  |
| 40.854% (BISTREFI) due 09/06/2028 ~  | 268206 | 6290 |
| 42.493% (BISTREFI) due 05/17/2028 ~  | 31100 | 736 |
| **Ukraine Government International Bonds**  |  |  |
| 0.000% due 02/01/2030 þ(h)  | $40 | 21 |
| 0.000% due 02/01/2034 þ(h)  | 149 | 62 |
| 0.000% due 02/01/2035 þ(h)  | 126 | 62 |
| 0.000% due 02/01/2036 þ(h)  | 105 | 51 |
| 4.500% due 02/01/2034 þ  | 183 | 103 |
| 4.500% due 02/01/2035 þ  | 256 | 141 |
| 4.500% due 02/01/2036 þ  | 293 | 159 |
| **Venezuela Government International Bonds** <br>9.250% due 09/15/2027 ^(d) | 452 | 110 |
| Total Sovereign Issues (Cost $51,916) |  | 51678 |
|  | SHARES |  |
| **COMMON STOCKS 7.6%**  |  |  |
| **COMMUNICATION SERVICES 0.7%**  |  |  |
| **Clear Channel Outdoor Holdings, Inc. (e)** | 754306 | 1192 |
| **iHeartMedia, Inc. Class A (e)** | 178528 | 512 |
| **iHeartMedia, Inc. Class B «(e)** | 138545 | 350 |
| **OI SA (e)** | 4697543 | 468 |
| **Promotora de Informaciones SA Class A (e)** | 282619 | 122 |
| **SES SA «(e)** | 222366 | 2646 |

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------

<br> Schedule of Investments PIMCO High Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Uniti** **Group, Inc. (e)** | 116865 | 715 |
|  |  | 6005 |
| **CONSUMER DISCRETIONARY 0.0%**  |  |  |
| **West Marine «(e)(k)** | 3250 | 21 |
| **CONSUMER STAPLES 0.0%**  |  |  |
| **Steinhoff International Holdings NV «(e)(k)** | 27368642 | 0 |
| **FINANCIALS 1.4%**  |  |  |
| **Banca Monte dei Paschi di Siena SpA** | 886500 | 7848 |
| **Intelsat SA «(e)(k)** | 222366 | 0 |
| **MNSN Holdings, Inc. (e)(k)** | 3757 | 225 |
| **Unity Bancorp, Inc. «(e)** | 644440 | 3622 |
| **XBP Global Holdings, Inc. (e)** | 9682 | 8 |
|  |  | 11703 |
| **HEALTH CARE 3.3%**  |  |  |
| **AmSurg Corp. «(e)(k)** | 603876 | 27263 |
| **INDUSTRIALS 2.2%**  |  |  |
| **Drillco Holdings Luxembourg SA «(k)** | 170549 | 3696 |
| **Foresea Holdings SA «** | 70121 | 1519 |
| **Incora New Equity «(e)(k)** | 314058 | 12606 |
| **Westmoreland Mining Holdings «(e)(k)** | 87552 | 33 |
| **Westmoreland Mining LLC «(e)(k)** | 275905 | 310 |
|  |  | 18164 |
| Total Common Stocks (Cost $73,007) |  | 63156 |
| **WARRANTS 0.1%**  |  |  |
| **FINANCIALS 0.1%**  |  |  |
| **Windstream Holdings II LLC - Exp. 10/25/2059 «** | 125540 | 705 |
| Total Warrants (Cost $765) |  | 705 |
| **PREFERRED SECURITIES 3.8%**  |  |  |
| **BANKING & FINANCE 2.4%**  |  |  |
| **ADLER Group SA** « | 1524031 | 0 |
| **AGFC Capital Trust I**<br>6.329% (US0003M + 1.750%) due 01/15/2067 ~(l) | 20410000 | 13798 |
| **Brighthouse Holdings LLC**<br>6.500% due 07/27/2037 þ(i) | 70000 | 62 |
| **Compeer Financial ACA**<br>4.875% due 08/15/2026 •(i) | 2100000 | 2054 |
| **Windstream Holdings II LLC**<br>11.000% «(e) | 4111 | 4111 |
|  |  | 20025 |
| **INDUSTRIALS 1.4%**  |  |  |
| **Clover Holdings, Inc.**<br>0.000% «(k) | 14886 | 293 |
| **OCP CLO Ltd.**<br>0.000% due 04/26/2036 ~ | 15547 | 6294 |
| **SVB Financial Trust**  |  |  |
| 0.000% due 11/07/2032 (g) | 19520 | 2 |
| 11.000% due 11/07/2032 | 4283 | 2334 |
| **Syniverse Holdings, Inc.**<br>12.500% «(k) | 3159405 | 3080 |
|  |  | 12003 |
| Total Preferred Securities (Cost $28,622) |  | 32028 |
| **REAL ESTATE INVESTMENT TRUSTS 0.4%**  |  |  |
| **REAL ESTATE 0.4%**  |  |  |
| **VICI Properties, Inc.** | 95221 | 3105 |
| Total Real Estate Investment Trusts (Cost $272) |  | 3105 |
| **SHORT-TERM INSTRUMENTS 0.3%**  |  |  |
| **MUTUAL FUNDS 0.1%**  |  |  |
| **State Street Institutional U.S. Government Money Market Fund, Premier Class** <br> 4.200% (j) | 947492 | 947 |

---

------

<br> Schedule of Investments PIMCO High Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | PRINCIPAL<br>AMOUNT<br>(000s) |  |
| **U.S. TREASURY BILLS 0.2%**  |  |  |
| 3.995% due 10/21/2025 - 01/27/2026 (f)(g)(o) | 1324 | 1313 |
| Total Short-Term Instruments (Cost $2,259) |  | 2260 |
| Total Investments in Securities (Cost $1,015,248) |  | 898482 |
|  | SHARES |  |
| **INVESTMENTS IN AFFILIATES 4.3%**  |  |  |
| **SHORT-TERM INSTRUMENTS 4.3%**  |  |  |
| **CENTRAL FUNDS USED FOR CASH MANAGEMENT PURPOSES 4.3%**  |  |  |
| **PIMCO Short-Term Floating NAV Portfolio III** | 3678592 | 35826 |
| Total Short-Term Instruments (Cost $35,809) |  | 35826 |
| Total Investments in Affiliates (Cost $35,809) |  | 35826 |
| Total Investments 112.1% (Cost $1,051,057) |  | $934308 |
| **Financial Derivative Instruments (m)(n) 0.0**% (Cost or Premiums, net $59,343) |  | 73 |
| Other Assets and Liabilities, net (12.1)% |  | (100967) |
| Net Assets Applicable to Common Shareholders 100.0% |  | $833414 |

---

------

<br> Schedule of Investments PIMCO High Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  | **NOTES TO SCHEDULE OF INVESTMENTS:**  |
| **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** |
| **¤** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** |
| **^** | **Security is in default.** | **Security is in default.** | **Security is in default.** | **Security is in default.** | **Security is in default.** | **Security is in default.** | **Security is in default.** | **Security is in default.** | **Security is in default.** |
| **«** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** |
| **µ** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** |
| **~** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.** |
| **•** | **Rate shown is the rate in effect as of period end. The rate may be based on a fixed rate, a capped rate or a floor rate and may convert to a variable or floating rate in the future. These securities do not indicate a reference rate and spread in their description.** | **Rate shown is the rate in effect as of period end. The rate may be based on a fixed rate, a capped rate or a floor rate and may convert to a variable or floating rate in the future. These securities do not indicate a reference rate and spread in their description.** | **Rate shown is the rate in effect as of period end. The rate may be based on a fixed rate, a capped rate or a floor rate and may convert to a variable or floating rate in the future. These securities do not indicate a reference rate and spread in their description.** | **Rate shown is the rate in effect as of period end. The rate may be based on a fixed rate, a capped rate or a floor rate and may convert to a variable or floating rate in the future. These securities do not indicate a reference rate and spread in their description.** | **Rate shown is the rate in effect as of period end. The rate may be based on a fixed rate, a capped rate or a floor rate and may convert to a variable or floating rate in the future. These securities do not indicate a reference rate and spread in their description.** | **Rate shown is the rate in effect as of period end. The rate may be based on a fixed rate, a capped rate or a floor rate and may convert to a variable or floating rate in the future. These securities do not indicate a reference rate and spread in their description.** | **Rate shown is the rate in effect as of period end. The rate may be based on a fixed rate, a capped rate or a floor rate and may convert to a variable or floating rate in the future. These securities do not indicate a reference rate and spread in their description.** | **Rate shown is the rate in effect as of period end. The rate may be based on a fixed rate, a capped rate or a floor rate and may convert to a variable or floating rate in the future. These securities do not indicate a reference rate and spread in their description.** | **Rate shown is the rate in effect as of period end. The rate may be based on a fixed rate, a capped rate or a floor rate and may convert to a variable or floating rate in the future. These securities do not indicate a reference rate and spread in their description.** |
| **þ** | **Coupon represents a rate which changes periodically based on a predetermined schedule or event. Rate shown is the rate in effect as of period end.** | **Coupon represents a rate which changes periodically based on a predetermined schedule or event. Rate shown is the rate in effect as of period end.** | **Coupon represents a rate which changes periodically based on a predetermined schedule or event. Rate shown is the rate in effect as of period end.** | **Coupon represents a rate which changes periodically based on a predetermined schedule or event. Rate shown is the rate in effect as of period end.** | **Coupon represents a rate which changes periodically based on a predetermined schedule or event. Rate shown is the rate in effect as of period end.** | **Coupon represents a rate which changes periodically based on a predetermined schedule or event. Rate shown is the rate in effect as of period end.** | **Coupon represents a rate which changes periodically based on a predetermined schedule or event. Rate shown is the rate in effect as of period end.** | **Coupon represents a rate which changes periodically based on a predetermined schedule or event. Rate shown is the rate in effect as of period end.** | **Coupon represents a rate which changes periodically based on a predetermined schedule or event. Rate shown is the rate in effect as of period end.** |
| **(a)** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** | **Security is an Interest Only ("IO") or IO Strip.** |
| **(b)** | **When-issued security.** | **When-issued security.** | **When-issued security.** | **When-issued security.** | **When-issued security.** | **When-issued security.** | **When-issued security.** | **When-issued security.** | **When-issued security.** |
| **(c)** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** | **Payment in-kind security.** |
| **(d)** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** |
| **(e)** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** |
| **(f)** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** | **Coupon represents a weighted average yield to maturity.** |
| **(g)** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** |
| **(h)** | **Security becomes interest bearing at a future date.** | **Security becomes interest bearing at a future date.** | **Security becomes interest bearing at a future date.** | **Security becomes interest bearing at a future date.** | **Security becomes interest bearing at a future date.** | **Security becomes interest bearing at a future date.** | **Security becomes interest bearing at a future date.** | **Security becomes interest bearing at a future date.** | **Security becomes interest bearing at a future date.** |
| **(i)** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** | **Perpetual maturity; date shown, if applicable, represents next contractual call date.** |
| **(j)** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** | **Coupon represents a 7-Day Yield.** |
| **(k)** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** |
| Issuer Description | Issuer Description | Issuer Description | Acquisition<br>Date | Acquisition<br>Date | Cost | Cost | Market<br>Value | Market<br>Value | Market Value<br> as Percentage<br> of Net Assets<br> Applicable to<br> Common Shareholders |
| AmSurg Corp. | AmSurg Corp. | AmSurg Corp. | 11/02/2023 - 11/06/2023 | 11/02/2023 - 11/06/2023 | $25233 | 25233 | $27263 | 27263 | 3.27 |
| Clover Holdings, Inc. | Clover Holdings, Inc. | Clover Holdings, Inc. | 12/09/2024 | 12/09/2024 | 223 | 223 | 293 | 293 | 0.04 |
| Drillco Holdings Luxembourg SA | Drillco Holdings Luxembourg SA | Drillco Holdings Luxembourg SA | 06/08/2023 | 06/08/2023 | 3411 | 3411 | 3696 | 3696 | 0.44 |
| Incora New Equity | Incora New Equity | Incora New Equity | 01/31/2025 | 01/31/2025 | 15256 | 15256 | 12606 | 12606 | 1.51 |
| Incora Top Holdco LLC 6.000% due 01/30/2033 | Incora Top Holdco LLC 6.000% due 01/30/2033 | Incora Top Holdco LLC 6.000% due 01/30/2033 | 01/31/2025 - 08/01/2025 | 01/31/2025 - 08/01/2025 | 6943 | 6943 | 11232 | 11232 | 1.35 |
| Intelsat SA | Intelsat SA | Intelsat SA | 06/19/2017 - 08/29/2025 | 06/19/2017 - 08/29/2025 | 8192 | 8192 | 0 | 0 | 0.00 |
| MNSN Holdings, Inc. | MNSN Holdings, Inc. | MNSN Holdings, Inc. | 03/16/2023 - 03/29/2023 | 03/16/2023 - 03/29/2023 | 42 | 42 | 225 | 225 | 0.03 |
| Steinhoff International Holdings NV | Steinhoff International Holdings NV | Steinhoff International Holdings NV | 06/30/2023 - 10/30/2023 | 06/30/2023 - 10/30/2023 | 0 | 0 | 0 | 0 | 0.00 |
| Syniverse Holdings, Inc. 12.500% | Syniverse Holdings, Inc. 12.500% | Syniverse Holdings, Inc. 12.500% | 05/12/2022 - 05/30/2025 | 05/12/2022 - 05/30/2025 | 3116 | 3116 | 3080 | 3080 | 0.37 |
| West Marine | West Marine | West Marine | 09/12/2023 | 09/12/2023 | 47 | 47 | 21 | 21 | 0.00 |
| Westmoreland Mining Holdings | Westmoreland Mining Holdings | Westmoreland Mining Holdings | 07/11/2016 - 10/19/2016 | 07/11/2016 - 10/19/2016 | 2140 | 2140 | 33 | 33 | 0.00 |
| Westmoreland Mining LLC | Westmoreland Mining LLC | Westmoreland Mining LLC | 06/30/2023 - 02/03/2025 | 06/30/2023 - 02/03/2025 | 1148 | 1148 | 310 | 310 | 0.04 |
|  |  |  |  | $ | 65751 | $ | 58759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.05% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.05% |
| **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** | **BORROWINGS AND OTHER FINANCING TRANSACTIONS** |
| **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** | **REVERSE REPURCHASE AGREEMENTS:** |
| Counterparty | Counterparty | Borrowing Rate<sup>(1)</sup> | Settlement Date | Maturity Date | Maturity Date | Amount<br>Borrowed<sup>(1)</sup> | Amount<br>Borrowed<sup>(1)</sup> | Payable for<br>Reverse<br>Repurchase<br>Agreements | Payable for<br>Reverse<br>Repurchase<br>Agreements |
| BPS | BPS | 1.750%  | 09/01/2025 | TBD<sup>(2)</sup> | TBD<sup>(2)</sup> | (1050) | (1050) | (1234) | (1234) |
|  |  | 4.380  | 09/19/2025 | TBD<sup>(2)</sup> | TBD<sup>(2)</sup> | (1010) | (1010) | (1012) | (1012) |
| BRC | BRC | 3.500  | 09/15/2025 | TBD<sup>(2)</sup> | TBD<sup>(2)</sup> | (420) | (420) | (566) | (566) |
| CDC | CDC | 4.460  | 09/11/2025 | 11/10/2025 | 11/10/2025 | (132) | (132) | (133) | (133) |
|  |  | 4.560  | 09/18/2025 | 01/16/2026 | 01/16/2026 | (2705) | (2705) | (2710) | (2710) |
|  |  | 4.560  | 09/25/2025 | 01/23/2026 | 01/23/2026 | (2938) | (2938) | (2940) | (2940) |
|  |  | 4.630  | 09/30/2025 | 01/20/2026 | 01/20/2026 | (5558) | (5558) | (5559) | (5559) |
|  |  | 4.630  | 09/30/2025 | 01/23/2026 | 01/23/2026 | (1304) | (1304) | (1304) | (1304) |
|  |  | 4.660  | 09/18/2025 | 01/16/2026 | 01/16/2026 | (4997) | (4997) | (5006) | (5006) |
|  |  | 4.660  | 09/25/2025 | 01/23/2026 | 01/23/2026 | (17587) | (17587) | (17601) | (17601) |
| DEU | DEU | 4.570  | 09/11/2025 | 12/11/2025 | 12/11/2025 | (3285) | (3285) | (3294) | (3294) |

---

------

<br> Schedule of Investments PIMCO High Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| IND | IND | IND | IND | IND | IND | 4.400  | 4.400  | 09/25/2025 | 09/25/2025 | 12/24/2025 |  | (18775) | (18775) |  | (18789) | (18789) |
|  |  |  |  |  |  | 4.430  | 4.430  | 09/17/2025 | 09/17/2025 | 12/17/2025 |  | (5062) | (5062) |  | (5071) | (5071) |
|  |  |  |  |  |  | 4.580  | 4.580  | 08/12/2025 | 08/12/2025 | 11/12/2025 |  | (1229) | (1229) |  | (1236) | (1236) |
|  |  |  |  |  |  | 4.610  | 4.610  | 09/04/2025 | 09/04/2025 | 12/04/2025 |  | (1561) | (1561) |  | (1566) | (1566) |
|  |  |  |  |  |  | 4.640  | 4.640  | 09/16/2025 | 09/16/2025 | 12/16/2025 |  | (1874) | (1874) |  | (1878) | (1878) |
| SCX | SCX | SCX | SCX | SCX | SCX | 2.150  | 2.150  | 06/17/2025 | 06/17/2025 | TBD<sup>(2)</sup> | EUR | (2029) | (2029) |  | (2397) | (2397) |
|  |  |  |  |  |  | 4.600  | 4.600  | 09/19/2025 | 09/19/2025 | TBD<sup>(2)</sup> | $ | (8371) | (8371) |  | (8383) | (8383) |
| SOG | SOG | SOG | SOG | SOG | SOG | 4.670  | 4.670  | 07/14/2025 | 07/14/2025 | 10/14/2025 |  | (3252) | (3252) |  | (3285) | (3285) |
|  |  |  |  |  |  | 4.860  | 4.860  | 07/08/2025 | 07/08/2025 | 10/08/2025 |  | (2912) | (2912) |  | (2945) | (2945) |
| UBS | UBS | UBS | UBS | UBS | UBS | 2.488  | 2.488  | 09/03/2025 | 09/03/2025 | 12/02/2025 | EUR | (2986) | (2986) |  | (3512) | (3512) |
| **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** |  |  |  |  |  |  |  |  | **$** | **(90421)** | **(90421)** |
| **(l)** | **Securities with an aggregate market value of $102,469 have been pledged as collateral under the terms of master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $102,469 have been pledged as collateral under the terms of master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $102,469 have been pledged as collateral under the terms of master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $102,469 have been pledged as collateral under the terms of master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $102,469 have been pledged as collateral under the terms of master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $102,469 have been pledged as collateral under the terms of master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $102,469 have been pledged as collateral under the terms of master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $102,469 have been pledged as collateral under the terms of master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $102,469 have been pledged as collateral under the terms of master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $102,469 have been pledged as collateral under the terms of master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $102,469 have been pledged as collateral under the terms of master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $102,469 have been pledged as collateral under the terms of master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $102,469 have been pledged as collateral under the terms of master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $102,469 have been pledged as collateral under the terms of master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $102,469 have been pledged as collateral under the terms of master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $102,469 have been pledged as collateral under the terms of master agreements as of September 30, 2025.** |
| <sup>(1)</sup> | The average amount of borrowings outstanding during the period ended September 30, 2025 was $(20936) at a weighted average interest rate of 4.422%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. | The average amount of borrowings outstanding during the period ended September 30, 2025 was $(20936) at a weighted average interest rate of 4.422%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. | The average amount of borrowings outstanding during the period ended September 30, 2025 was $(20936) at a weighted average interest rate of 4.422%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. | The average amount of borrowings outstanding during the period ended September 30, 2025 was $(20936) at a weighted average interest rate of 4.422%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. | The average amount of borrowings outstanding during the period ended September 30, 2025 was $(20936) at a weighted average interest rate of 4.422%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. | The average amount of borrowings outstanding during the period ended September 30, 2025 was $(20936) at a weighted average interest rate of 4.422%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. | The average amount of borrowings outstanding during the period ended September 30, 2025 was $(20936) at a weighted average interest rate of 4.422%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. | The average amount of borrowings outstanding during the period ended September 30, 2025 was $(20936) at a weighted average interest rate of 4.422%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. | The average amount of borrowings outstanding during the period ended September 30, 2025 was $(20936) at a weighted average interest rate of 4.422%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. | The average amount of borrowings outstanding during the period ended September 30, 2025 was $(20936) at a weighted average interest rate of 4.422%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. | The average amount of borrowings outstanding during the period ended September 30, 2025 was $(20936) at a weighted average interest rate of 4.422%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. | The average amount of borrowings outstanding during the period ended September 30, 2025 was $(20936) at a weighted average interest rate of 4.422%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. | The average amount of borrowings outstanding during the period ended September 30, 2025 was $(20936) at a weighted average interest rate of 4.422%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. | The average amount of borrowings outstanding during the period ended September 30, 2025 was $(20936) at a weighted average interest rate of 4.422%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. | The average amount of borrowings outstanding during the period ended September 30, 2025 was $(20936) at a weighted average interest rate of 4.422%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. | The average amount of borrowings outstanding during the period ended September 30, 2025 was $(20936) at a weighted average interest rate of 4.422%. Average borrowings may include reverse repurchase agreements and sale-buyback transactions, if held during the period. |
| <sup>(2)</sup> | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. | Open maturity reverse repurchase agreement. |
| **(m)** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** | **FINANCIAL DERIVATIVE INSTRUMENTS: EXCHANGE-TRADED OR CENTRALLY CLEARED** |
| **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** |
| **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** | **INTEREST RATE SWAPS** |
|  |  |  |  |  |  |  |  |  |  |  |  | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> | <u>Variation Margin</u> |
| Pay/<br>Receive<br>Floating Rate | Pay/<br>Receive<br>Floating Rate | Floating Rate Index | Fixed Rate | Payment<br>Frequency | Maturity<br>Date | Maturity<br>Date | Notional<br>Amount | Notional<br>Amount | Premiums<br>Paid/<br>(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Market<br>Value | Market<br>Value | Asset | Asset | Asset | Liability |
| Pay | Pay | 1-Day GBP-SONIO Compounded-OIS | 3.750% | Annual | 09/17/2030 | 09/17/2030 | 34800 | 34800 | $(181) | $(20) | $(201) | (201) | $48 | 48 | 48 | $0 |
| Receive | Receive | 1-Day GBP-SONIO Compounded-OIS | 0.750 | Annual | 09/21/2032 | 09/21/2032 | 13400 | 13400 | 1297 | 2195 | 3492 | 3492 | 0 | 0 | 0 | (23) |
| Receive | Receive | 1-Day GBP-SONIO Compounded-OIS | 2.000 | Annual | 03/15/2033 | 03/15/2033 | 6900 | 6900 | 768 | 522 | 1290 | 1290 | 0 | 0 | 0 | (14) |
| Receive | Receive | 1-Day GBP-SONIO Compounded-OIS | 0.750 | Annual | 09/21/2052 | 09/21/2052 | 2700 | 2700 | (7) | 2196 | 2189 | 2189 | 0 | 0 | 0 | (11) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 2.300 | Annual | 01/17/2026 | 01/17/2026 | $2200 | 2200 | 1 | 43 | 44 | 44 | 0 | 0 | 0 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 0.850 | Semi-Annual | 02/01/2027 | 02/01/2027 | 43700 | 43700 | 253 | 1702 | 1955 | 1955 | 0 | 0 | 0 | (8) |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 1.750 | Annual | 06/15/2027 | 06/15/2027 | 112200 | 112200 | (2687) | (1315) | (4002) | (4002) | 30 | 30 | 30 | 0 |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 06/21/2028 | 06/21/2028 | 23400 | 23400 | (313) | 179 | (134) | (134) | 13 | 13 | 13 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1.370 | Semi-Annual | 08/25/2028 | 08/25/2028 | 27135 | 27135 | (8) | 1779 | 1771 | 1771 | 0 | 0 | 0 | (12) |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 12/20/2028 | 12/20/2028 | 89500 | 89500 | 784 | (147) | 637 | 637 | 58 | 58 | 58 | 0 |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 3.000 | Semi-Annual | 06/19/2029 | 06/19/2029 | 79200 | 79200 | 1112 | (2303) | (1191) | (1191) | 48 | 48 | 48 | 0 |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/20/2029 | 06/20/2029 | 76900 | 76900 | (969) | 1907 | 938 | 938 | 48 | 48 | 48 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 3.750 | Annual | 06/20/2029 | 06/20/2029 | 31000 | 31000 | (587) | 210 | (377) | (377) | 0 | 0 | 0 | (20) |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 2.000 | Annual | 12/21/2029 | 12/21/2029 | 53300 | 53300 | (5501) | 1647 | (3854) | (3854) | 25 | 25 | 25 | 0 |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 3.250 | Annual | 06/18/2030 | 06/18/2030 | 233400 | 233400 | (2351) | 300 | (2051) | (2051) | 104 | 104 | 104 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1.000 | Semi-Annual | 12/16/2030 | 12/16/2030 | 127 | 127 | 0 | 16 | 16 | 16 | 0 | 0 | 0 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 0.750 | Semi-Annual | 06/16/2031 | 06/16/2031 | 7300 | 7300 | 427 | 683 | 1110 | 1110 | 0 | 0 | 0 | (1) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1.350 | Semi-Annual | 02/09/2032 | 02/09/2032 | 139800 | 139800 | 492 | 19165 | 19657 | 19657 | 0 | 0 | 0 | (22) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1.250 | Annual | 06/15/2032 | 06/15/2032 | 87000 | 87000 | 4224 | 8156 | 12380 | 12380 | 0 | 0 | 0 | (16) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1.750 | Annual | 06/15/2032 | 06/15/2032 | 59500 | 59500 | 2570 | 4031 | 6601 | 6601 | 0 | 0 | 0 | (13) |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 3.500 | Semi-Annual | 06/19/2044 | 06/19/2044 | 395600 | 395600 | 59600 | (95330) | (35730) | (35730) | 0 | 0 | 0 | (593) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 2.000 | Semi-Annual | 01/15/2050 | 01/15/2050 | 35600 | 35600 | (247) | 13034 | 12787 | 12787 | 80 | 80 | 80 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1.750 | Semi-Annual | 01/22/2050 | 01/22/2050 | 55100 | 55100 | (135) | 22087 | 21952 | 21952 | 124 | 124 | 124 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1.875 | Semi-Annual | 02/07/2050 | 02/07/2050 | 42480 | 42480 | (165) | 16209 | 16044 | 16044 | 96 | 96 | 96 | 0 |
| Pay | Pay | 1-Day USD-SOFR Compounded-OIS | 2.000 | Semi-Annual | 12/15/2051 | 12/15/2051 | 29200 | 29200 | 2061 | (12678) | (10617) | (10617) | 0 | 0 | 0 | (74) |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1.700 | Semi-Annual | 02/01/2052 | 02/01/2052 | 223450 | 223450 | (4208) | 98609 | 94401 | 94401 | 574 | 574 | 574 | 0 |
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 2.750 | Annual | 06/21/2053 | 06/21/2053 | 9700 | 9700 | 916 | 1096 | 2012 | 2012 | 25 | 25 | 25 | 0 |

---

------

<br> Schedule of Investments PIMCO High Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 1-Day USD-SOFR Compounded-OIS | 3.500 | Annual | Annual | Annual | 06/20/2054 | 06/20/2054 |  | 29000 |  | 1270 | 1270 |  | 1009 | 1009 | 1009 |  | 2279 | 2279 |  | 82 | 82 | 82 |  | 0 |
| Pay | Pay | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 0.650 | Annual | Annual | Annual | 02/26/2029 | 02/26/2029 | EUR | 65500 |  | 66 | 66 |  | (3980) | (3980) | (3980) |  | (3914) | (3914) |  | 48 | 48 | 48 |  | 0 |
| Receive | Receive | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 0.150 | Annual | Annual | Annual | 06/17/2030 | 06/17/2030 |  | 24100 |  | (1059) | (1059) |  | 4004 | 4004 | 4004 |  | 2945 | 2945 |  | 0 | 0 | 0 |  | (29) |
| Receive | Receive | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 0.250 | Annual | Annual | Annual | 09/21/2032 | 09/21/2032 |  | 3200 |  | 290 | 290 |  | 256 | 256 | 256 |  | 546 | 546 |  | 0 | 0 | 0 |  | (6) |
| Receive | Receive | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 1.250 | Annual | Annual | Annual | 08/19/2049 | 08/19/2049 |  | 18200 |  | 76 | 76 |  | 6176 | 6176 | 6176 |  | 6252 | 6252 |  | 0 | 0 | 0 |  | (98) |
| Pay | Pay | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 0.500 | Annual | Annual | Annual | 06/17/2050 | 06/17/2050 |  | 7700 |  | 1317 | 1317 |  | (5259) | (5259) | (5259) |  | (3942) | (3942) |  | 36 | 36 | 36 |  | 0 |
| Receive<sup>(1)</sup> | Receive<sup>(1)</sup> | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 6-Month EUR-EURIBOR | 0.830 | Annual | Annual | Annual | 12/09/2052 | 12/09/2052 |  | 26400 |  | 424 | 424 |  | 3008 | 3008 | 3008 |  | 3432 | 3432 |  | 0 | 0 | 0 |  | (23) |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **$** | **$** | **59530** | **59530** | $**89187** | **89187** | **89187** | **89187** | $**148717** | **148717** | **148717** | $**1439** | **1439** | **1439** | **$** | $**(963)** | **(963)** |
| **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** | **Cash of $12,963 has been pledged as collateral for exchange-traded and centrally cleared financial derivative instruments as of September 30, 2025.** |
| <sup>(1)</sup> | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. | This instrument has a forward starting effective date. |
| **(n)** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** | **FINANCIAL DERIVATIVE INSTRUMENTS: OVER THE COUNTER** |
| **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** | **FORWARD FOREIGN CURRENCY CONTRACTS:** |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Unrealized Appreciation/(Depreciation)</u> | <u>Unrealized Appreciation/(Depreciation)</u> | <u>Unrealized Appreciation/(Depreciation)</u> | <u>Unrealized Appreciation/(Depreciation)</u> | <u>Unrealized Appreciation/(Depreciation)</u> | <u>Unrealized Appreciation/(Depreciation)</u> | <u>Unrealized Appreciation/(Depreciation)</u> | <u>Unrealized Appreciation/(Depreciation)</u> | <u>Unrealized Appreciation/(Depreciation)</u> | <u>Unrealized Appreciation/(Depreciation)</u> | <u>Unrealized Appreciation/(Depreciation)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | &nbsp;&nbsp;&nbsp;&nbsp; Counterparty | Settlement<br>Month | Settlement<br>Month | Settlement<br>Month | Settlement<br>Month |  |  | Currency to<br>be Delivered | Currency to<br>be Delivered | Currency to<br>be Delivered |  |  | Currency to<br>be Received | Currency to<br>be Received | Currency to<br>be Received | Currency to<br>be Received |  | Asset | Asset | Asset | Asset | Asset | Asset | Liability | Liability | Liability |
| &nbsp;&nbsp;&nbsp;&nbsp; AZD | &nbsp;&nbsp;&nbsp;&nbsp; AZD | &nbsp;&nbsp;&nbsp;&nbsp; AZD | &nbsp;&nbsp;&nbsp;&nbsp; AZD | 10/2025  | 10/2025  | 10/2025  | 10/2025  | CAD | CAD | 646 | 646 | 646 | $ | $ | 465 | 465 | 465 | 465 | $ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|  |  |  |  | 10/2025  | 10/2025  | 10/2025  | 10/2025  | EUR | EUR | 99358 | 99358 | 99358 |  |  | 115886 | 115886 | 115886 | 115886 |  | 0 | 0 | 0 | 0 | 0 | 0 | (765) | (765) | (765) |
|  |  |  |  | 11/2025  | 11/2025  | 11/2025  | 11/2025  | $ | $ | $465 | 465 | 465 | CAD | CAD | 646 | 646 | 646 | 646 |  | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BOA | &nbsp;&nbsp;&nbsp;&nbsp; BOA | &nbsp;&nbsp;&nbsp;&nbsp; BOA | &nbsp;&nbsp;&nbsp;&nbsp; BOA | 11/2025  | 11/2025  | 11/2025  | 11/2025  | DOP | DOP | 80019 | 80019 | 80019 | $ | $ | 1252 | 1252 | 1252 | 1252 |  | 0 | 0 | 0 | 0 | 0 | 0 | (22) | (22) | (22) |
|  |  |  |  | 11/2025  | 11/2025  | 11/2025  | 11/2025  | EUR | EUR | 2607 | 2607 | 2607 |  |  | 3068 | 3068 | 3068 | 3068 |  | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BPS | &nbsp;&nbsp;&nbsp;&nbsp; BPS | &nbsp;&nbsp;&nbsp;&nbsp; BPS | &nbsp;&nbsp;&nbsp;&nbsp; BPS | 10/2025  | 10/2025  | 10/2025  | 10/2025  |  |  | 2849 | 2849 | 2849 |  |  | 3364 | 3364 | 3364 | 3364 |  | 19 | 19 | 19 | 19 | 19 | 19 | 0 | 0 | 0 |
|  |  |  |  | 10/2025  | 10/2025  | 10/2025  | 10/2025  | TRY | TRY | 2054 | 2054 | 2054 |  |  | 49 | 49 | 49 | 49 |  | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|  |  |  |  | 08/2030  | 08/2030  | 08/2030  | 08/2030  | KWD | KWD | 58 | 58 | 58 |  |  | 195 | 195 | 195 | 195 |  | 2 | 2 | 2 | 2 | 2 | 2 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BRC | &nbsp;&nbsp;&nbsp;&nbsp; BRC | &nbsp;&nbsp;&nbsp;&nbsp; BRC | &nbsp;&nbsp;&nbsp;&nbsp; BRC | 10/2025  | 10/2025  | 10/2025  | 10/2025  | GBP | GBP | 1312 | 1312 | 1312 |  |  | 1772 | 1772 | 1772 | 1772 |  | 7 | 7 | 7 | 7 | 7 | 7 | 0 | 0 | 0 |
|  |  |  |  | 10/2025  | 10/2025  | 10/2025  | 10/2025  | TRY | TRY | 16938 | 16938 | 16938 |  |  | 407 | 407 | 407 | 407 |  | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|  |  |  |  | 10/2025  | 10/2025  | 10/2025  | 10/2025  | $ | $ | $5100 | 5100 | 5100 | TRY | TRY | 217136 | 217136 | 217136 | 217136 |  | 116 | 116 | 116 | 116 | 116 | 116 | 0 | 0 | 0 |
|  |  |  |  | 11/2025  | 11/2025  | 11/2025  | 11/2025  | EUR | EUR | 409 | 409 | 409 | $ | $ | 481 | 481 | 481 | 481 |  | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|  |  |  |  | 11/2025  | 11/2025  | 11/2025  | 11/2025  | $ | $ | $3211 | 3211 | 3211 | TRY | TRY | 139891 | 139891 | 139891 | 139891 |  | 28 | 28 | 28 | 28 | 28 | 28 | 0 | 0 | 0 |
|  |  |  |  | 12/2025  | 12/2025  | 12/2025  | 12/2025  |  |  | 817 | 817 | 817 |  |  | 35944 | 35944 | 35944 | 35944 |  | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; BSH | &nbsp;&nbsp;&nbsp;&nbsp; BSH | &nbsp;&nbsp;&nbsp;&nbsp; BSH | &nbsp;&nbsp;&nbsp;&nbsp; BSH | 12/2025  | 12/2025  | 12/2025  | 12/2025  | PEN | PEN | 3163 | 3163 | 3163 | $ | $ | 888 | 888 | 888 | 888 |  | 0 | 0 | 0 | 0 | 0 | 0 | (21) | (21) | (21) |
|  |  |  |  | 02/2026  | 02/2026  | 02/2026  | 02/2026  |  |  | 1006 | 1006 | 1006 |  |  | 288 | 288 | 288 | 288 |  | 0 | 0 | 0 | 0 | 0 | 0 | (1) | (1) | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp; CBK | &nbsp;&nbsp;&nbsp;&nbsp; CBK | &nbsp;&nbsp;&nbsp;&nbsp; CBK | &nbsp;&nbsp;&nbsp;&nbsp; CBK | 10/2025  | 10/2025  | 10/2025  | 10/2025  | EUR | EUR | 2607 | 2607 | 2607 |  |  | 3056 | 3056 | 3056 | 3056 |  | 0 | 0 | 0 | 0 | 0 | 0 | (5) | (5) | (5) |
|  |  |  |  | 10/2025  | 10/2025  | 10/2025  | 10/2025  | GBP | GBP | 2385 | 2385 | 2385 |  |  | 3241 | 3241 | 3241 | 3241 |  | 34 | 34 | 34 | 34 | 34 | 34 | 0 | 0 | 0 |
|  |  |  |  | 10/2025  | 10/2025  | 10/2025  | 10/2025  | HKD | HKD | 33623 | 33623 | 33623 |  |  | 4324 | 4324 | 4324 | 4324 |  | 2 | 2 | 2 | 2 | 2 | 2 | 0 | 0 | 0 |
|  |  |  |  | 10/2025  | 10/2025  | 10/2025  | 10/2025  | $ | $ | $1007 | 1007 | 1007 | EUR | EUR | 859 | 859 | 859 | 859 |  | 3 | 3 | 3 | 3 | 3 | 3 | (1) | (1) | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp; FAR | &nbsp;&nbsp;&nbsp;&nbsp; FAR | &nbsp;&nbsp;&nbsp;&nbsp; FAR | &nbsp;&nbsp;&nbsp;&nbsp; FAR | 11/2025  | 11/2025  | 11/2025  | 11/2025  | PEN | PEN | 2719 | 2719 | 2719 | $ | $ | 741 | 741 | 741 | 741 |  | 0 | 0 | 0 | 0 | 0 | 0 | (42) | (42) | (42) |
| &nbsp;&nbsp;&nbsp;&nbsp; GLM | &nbsp;&nbsp;&nbsp;&nbsp; GLM | &nbsp;&nbsp;&nbsp;&nbsp; GLM | &nbsp;&nbsp;&nbsp;&nbsp; GLM | 11/2025  | 11/2025  | 11/2025  | 11/2025  | DOP | DOP | 161824 | 161824 | 161824 |  |  | 2526 | 2526 | 2526 | 2526 |  | 0 | 0 | 0 | 0 | 0 | 0 | (50) | (50) | (50) |
|  |  |  |  | 01/2026  | 01/2026  | 01/2026  | 01/2026  |  |  | 105062 | 105062 | 105062 |  |  | 1700 | 1700 | 1700 | 1700 |  | 40 | 40 | 40 | 40 | 40 | 40 | 0 | 0 | 0 |
|  |  |  |  | 03/2026  | 03/2026  | 03/2026  | 03/2026  |  |  | 55794 | 55794 | 55794 |  |  | 860 | 860 | 860 | 860 |  | 1 | 1 | 1 | 1 | 1 | 1 | (16) | (16) | (16) |
| &nbsp;&nbsp;&nbsp;&nbsp; JPM | &nbsp;&nbsp;&nbsp;&nbsp; JPM | &nbsp;&nbsp;&nbsp;&nbsp; JPM | &nbsp;&nbsp;&nbsp;&nbsp; JPM | 10/2025  | 10/2025  | 10/2025  | 10/2025  | $ | $ | $467 | 467 | 467 | CAD | CAD | 646 | 646 | 646 | 646 |  | 0 | 0 | 0 | 0 | 0 | 0 | (3) | (3) | (3) |
|  |  |  |  | 10/2025  | 10/2025  | 10/2025  | 10/2025  |  |  | 641 | 641 | 641 | TRY | TRY | 27339 | 27339 | 27339 | 27339 |  | 15 | 15 | 15 | 15 | 15 | 15 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; MBC | &nbsp;&nbsp;&nbsp;&nbsp; MBC | &nbsp;&nbsp;&nbsp;&nbsp; MBC | &nbsp;&nbsp;&nbsp;&nbsp; MBC | 10/2025  | 10/2025  | 10/2025  | 10/2025  | EUR | EUR | 5546 | 5546 | 5546 | $ | $ | 6534 | 6534 | 6534 | 6534 |  | 23 | 23 | 23 | 23 | 23 | 23 | 0 | 0 | 0 |
|  |  |  |  | 10/2025  | 10/2025  | 10/2025  | 10/2025  | GBP | GBP | 3767 | 3767 | 3767 |  |  | 5085 | 5085 | 5085 | 5085 |  | 19 | 19 | 19 | 19 | 19 | 19 | 0 | 0 | 0 |
|  |  |  |  | 10/2025  | 10/2025  | 10/2025  | 10/2025  | $ | $ | $2072 | 2072 | 2072 | EUR | EUR | 1762 | 1762 | 1762 | 1762 |  | 0 | 0 | 0 | 0 | 0 | 0 | (3) | (3) | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp; NGF | &nbsp;&nbsp;&nbsp;&nbsp; NGF | &nbsp;&nbsp;&nbsp;&nbsp; NGF | &nbsp;&nbsp;&nbsp;&nbsp; NGF | 12/2025  | 12/2025  | 12/2025  | 12/2025  |  |  | 904 | 904 | 904 | TRY | TRY | 39658 | 39658 | 39658 | 39658 |  | 3 | 3 | 3 | 3 | 3 | 3 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; SCX | &nbsp;&nbsp;&nbsp;&nbsp; SCX | &nbsp;&nbsp;&nbsp;&nbsp; SCX | &nbsp;&nbsp;&nbsp;&nbsp; SCX | 10/2025  | 10/2025  | 10/2025  | 10/2025  |  |  | 27587 | 27587 | 27587 | GBP | GBP | 20624 | 20624 | 20624 | 20624 |  | 150 | 150 | 150 | 150 | 150 | 150 | 0 | 0 | 0 |
|  |  |  |  | 11/2025  | 11/2025  | 11/2025  | 11/2025  | GBP | GBP | 20624 | 20624 | 20624 | $ | $ | 27592 | 27592 | 27592 | 27592 |  | 0 | 0 | 0 | 0 | 0 | 0 | (151) | (151) | (151) |
| &nbsp;&nbsp;&nbsp;&nbsp; SOG | &nbsp;&nbsp;&nbsp;&nbsp; SOG | &nbsp;&nbsp;&nbsp;&nbsp; SOG | &nbsp;&nbsp;&nbsp;&nbsp; SOG | 10/2025  | 10/2025  | 10/2025  | 10/2025  | $ | $ | $123635 | 123635 | 123635 | EUR | EUR | 105132 | 105132 | 105132 | 105132 |  | 0 | 0 | 0 | 0 | 0 | 0 | (205) | (205) | (205) |
|  |  |  |  | 11/2025  | 11/2025  | 11/2025  | 11/2025  | EUR | EUR | 105132 | 105132 | 105132 | $ | $ | 123884 | 123884 | 123884 | 123884 |  | 206 | 206 | 206 | 206 | 206 | 206 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; SSB | &nbsp;&nbsp;&nbsp;&nbsp; SSB | &nbsp;&nbsp;&nbsp;&nbsp; SSB | &nbsp;&nbsp;&nbsp;&nbsp; SSB | 10/2025  | 10/2025  | 10/2025  | 10/2025  | GBP | GBP | 13160 | 13160 | 13160 |  |  | 17739 | 17739 | 17739 | 17739 |  | 40 | 40 | 40 | 40 | 40 | 40 | 0 | 0 | 0 |
| **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **$** | **$** | **710** | **710** | **710** | **710** | **710** | **$** | **(1285)** | **(1285)** | **(1285)** |
| **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** | **SWAP AGREEMENTS:** |
| **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> | **CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION**<sup>(1)</sup> |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | <u>Swap Agreements, at Value</u><sup>(4)</sup> | <u>Swap Agreements, at Value</u><sup>(4)</sup> | <u>Swap Agreements, at Value</u><sup>(4)</sup> | <u>Swap Agreements, at Value</u><sup>(4)</sup> |
| Counterparty | Counterparty | Counterparty | Reference Entity | Reference Entity | Reference Entity | Reference Entity | Fixed <br>Receive Rate | Fixed <br>Receive Rate | Fixed <br>Receive Rate | Payment<br>Frequency | Payment<br>Frequency | Implied<br>Credit Spread at<br>September 30, 2025<sup>(2)</sup> | Implied<br>Credit Spread at<br>September 30, 2025<sup>(2)</sup> | Implied<br>Credit Spread at<br>September 30, 2025<sup>(2)</sup> | Implied<br>Credit Spread at<br>September 30, 2025<sup>(2)</sup> | Notional<br>Amount<sup>(3)</sup> | Notional<br>Amount<sup>(3)</sup> |  | Premiums<br>Paid/(Received) | Premiums<br>Paid/(Received) | Premiums<br>Paid/(Received) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) | Unrealized<br>Appreciation/<br>(Depreciation) |  | Asset |  | Liability |
| DUB | DUB | DUB | Eskom « | Eskom « | Eskom « | Eskom « | 4.650% | 4.650% | 4.650% | Quarterly | Quarterly | —◆% | —◆% | —◆% | —◆% | 3300 | 3300 | $ | $0 | 0 | 0 | $199 | 199 | 199 | $ | 199 | $ | $0 |
|  |  |  | Petroleos Mexicanos « | Petroleos Mexicanos « | Petroleos Mexicanos « | Petroleos Mexicanos « | 4.750 | 4.750 | 4.750 | Monthly | Monthly | —◆ | —◆ | —◆ | —◆ | 235 | 235 |  | 0 | 0 | 0 | 3 | 3 | 3 |  | 3 |  | 0 |
| GST | GST | GST | Soft Bank Group,Inc.  | Soft Bank Group,Inc.  | Soft Bank Group,Inc.  | Soft Bank Group,Inc.  | 1.000 | 1.000 | 1.000 | Quarterly | Quarterly | 0.872 | 0.872 | 0.872 | 0.872 | 1400 | 1400 |  | (12) | (12) | (12) | 13 | 13 | 13 |  | 1 |  | 0 |
| MYC | MYC | MYC | Petroleos Mexicanos  | Petroleos Mexicanos  | Petroleos Mexicanos  | Petroleos Mexicanos  | 1.000 | 1.000 | 1.000 | Quarterly | Quarterly | 2.159 | 2.159 | 2.159 | 2.159 | 900 | 900 |  | (175) | (175) | (175) | 144 | 144 | 144 |  | 0 |  | (31) |
| **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **Total Swap Agreements** | **$** | $**(187)** | **(187)** | **(187)** | $**359** | **359** | **359** | **$** | **203** | **$** | $**(31)** |
| **(o)** | **Securities with an aggregate market value of $680 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $680 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $680 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $680 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $680 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $680 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $680 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $680 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $680 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $680 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $680 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $680 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $680 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $680 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $680 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $680 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $680 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $680 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $680 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $680 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $680 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $680 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $680 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $680 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $680 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $680 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $680 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** | **Securities with an aggregate market value of $680 have been pledged as collateral for financial derivative instruments as governed by International Swaps and Derivatives Association, Inc. master agreements as of September 30, 2025.** |
| <sup>◆</sup> | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. | Implied credit spread is not available due to significant unobservable inputs being used in the fair valuation. |

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<br> Schedule of Investments PIMCO High Income Fund (Cont.) September 30, 2025 (Unaudited)

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <sup>(</sup><sup>1)</sup> | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash, securities or other deliverable obligations equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. |
| <sup>(2)</sup> | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues as of period end serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. |
| <sup>(3)</sup> | The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement. | The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement. | The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement. | The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement. | The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement. |
| <sup>(4)</sup> | The prices and resulting values for credit default swap agreements serve as indicators of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the underlying referenced instrument's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | The prices and resulting values for credit default swap agreements serve as indicators of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the underlying referenced instrument's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | The prices and resulting values for credit default swap agreements serve as indicators of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the underlying referenced instrument's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | The prices and resulting values for credit default swap agreements serve as indicators of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the underlying referenced instrument's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. | The prices and resulting values for credit default swap agreements serve as indicators of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the underlying referenced instrument's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. |
| **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the Fund's assets and liabilities**: |
| Category and Subcategory | Category and Subcategory | Level 1 | Level 2 | Level 3 | Fair Value<br>at 09/30/2025 |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** |
| Loan Participations and Assignments | Loan Participations and Assignments | $0 | $123377 | $60757 | $184134 |
| Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes |
| Banking & Finance | Banking & Finance | 1978 | 46651 | 0 | 48629 |
| Industrials | Industrials | 2511 | 243059 | 38430 | 284000 |
| Utilities | Utilities | 0 | 34097 | 0 | 34097 |
| Convertible Bonds & Notes | Convertible Bonds & Notes | Convertible Bonds & Notes | Convertible Bonds & Notes | Convertible Bonds & Notes | Convertible Bonds & Notes |
| Industrials | Industrials | 0 | 20698 | 0 | 20698 |
| Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes |
| Michigan | Michigan | 0 | 1802 | 0 | 1802 |
| Texas | Texas | 0 | 7939 | 0 | 7939 |
| West Virginia | West Virginia | 0 | 6187 | 0 | 6187 |
| U.S. Government Agencies | U.S. Government Agencies | 0 | 20352 | 8424 | 28776 |
| Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | 0 | 75427 | 0 | 75427 |
| Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities |
| Automobile ABS Other | Automobile ABS Other | 0 | 3509 | 0 | 3509 |
| Home Equity Other | Home Equity Other | 0 | 24589 | 0 | 24589 |
| Whole Loan Collateral | Whole Loan Collateral | 0 | 9683 | 0 | 9683 |
| Other ABS | Other ABS | 0 | 14739 | 1341 | 16080 |
| Sovereign Issues | Sovereign Issues | 0 | 51678 | 0 | 51678 |
| Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks |
| Communication Services | Communication Services | 3009 | 0 | 2996 | 6005 |
| Consumer Discretionary | Consumer Discretionary | 0 | 0 | 21 | 21 |
| Financials | Financials | 233 | 7848 | 3622 | 11703 |
| Health Care | Health Care | 0 | 0 | 27263 | 27263 |
| Industrials | Industrials | 0 | 0 | 18164 | 18164 |
| Warrants | Warrants | Warrants | Warrants | Warrants | Warrants |
| Financials | Financials | 0 | 0 | 705 | 705 |
| Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities |
| Banking & Finance | Banking & Finance | 0 | 15914 | 4111 | 20025 |
| Industrials | Industrials | 0 | 8630 | 3373 | 12003 |
| Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts | Real Estate Investment Trusts |
| Real Estate | Real Estate | 3105 | 0 | 0 | 3105 |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Mutual Funds | Mutual Funds | 0 | 947 | 0 | 947 |
| U.S. Treasury Bills | U.S. Treasury Bills | 0 | 1313 | 0 | 1313 |
|  |  | $10836 | $718439 | $169207 | $898482 |
| **Investments in Affiliates, at Value** | **Investments in Affiliates, at Value** | **Investments in Affiliates, at Value** | **Investments in Affiliates, at Value** | **Investments in Affiliates, at Value** | **Investments in Affiliates, at Value** |
| Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments | Short-Term Instruments |
| Central Funds Used for Cash Management Purposes | Central Funds Used for Cash Management Purposes | $35826 | $0 | $0 | $35826 |
| Total Investments | Total Investments | $46662 | $718439 | $169207 | $934308 |
| **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  | **Financial Derivative Instruments - Assets**  |
| Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | 0 | 1439 | 0 | 1439 |
| Over the counter | Over the counter | 0 | 711 | 202 | 913 |
|  |  | $0 | $2150 | $202 | $2352 |
| **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  | **Financial Derivative Instruments - Liabilities**  |
| Exchange-traded or centrally cleared | Exchange-traded or centrally cleared | 0 | (963) | 0 | (963) |
| Over the counter | Over the counter | 0 | (1316) | 0 | (1316) |
|  |  | $0 | $(2279) | $0 | $(2279) |
| Total Financial Derivative Instruments | Total Financial Derivative Instruments | $0 | $(129) | $202 | $73 |
| Totals | Totals | $46662 | $718310 | $169409 | $934381 |

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<br> Schedule of Investments PIMCO High Income Fund (Cont.) September 30, 2025 (Unaudited)

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended September 30, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended September 30, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended September 30, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended September 30, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended September 30, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended September 30, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended September 30, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended September 30, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended September 30, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended September 30, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended September 30, 2025:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended September 30, 2025:** |
| Category and Subcategory | Beginning<br>Balance<br>at 06/30/2025 | Beginning<br>Balance<br>at 06/30/2025 | Net<br>Purchases<sup>(1)</sup> | Net<br>Sales/Settlements<sup>(1)</sup> | Accrued<br>Discounts/<br>(Premiums) | Realized<br>Gain/(Loss) | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<sup>(2)</sup> | Transfers into<br>Level 3 | Transfers out<br>of Level 3 | Ending<br>Balance<br>at 09/30/2025 | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>on Investments<br>Held at<br>09/30/2025<sup>(2)</sup> |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** |
| Loan Participations and Assignments | $41013 | 41013 | $381 | $(568) | $35 | $(1) | $(1048) | $20945 | $0 | $60757 | $(1044) |
| Corporate Bonds & Notes |  |  |  |  |  |  |  |  |  |  |  |
| Banking & Finance |  | 302 | 0 | (7) | 0 | 0 | 10 | 0 | (305) | 0 | 0 |
| Industrials |  | 19641 | 17077 | 0 | 12 | 0 | 1700 | 0 | 0 | 38430 | 1699 |
| U.S. Government Agencies | 8262 | 8262 | 0 | (38) | 9 | 12 | 179 | 0 | 0 | 8424 | 179 |
| Asset-Backed Securities |  |  |  |  |  |  |  |  |  |  |  |
| Other ABS |  | 1468 | 0 | 0 | 0 | 0 | (127) | 0 | 0 | 1341 | (127) |
| Common Stocks |  |  |  |  |  |  |  |  |  |  |  |
| Communication Services |  | 10752 | 0 | (9497) | 0 | 5042 | (3301) | 0 | 0 | 2996 | 2781 |
| Consumer Discretionary |  | 20 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 21 | 1 |
| Financials |  | 7686 | 3931 | (7728) | 0 | 0 | (42) | 0 | (225) | 3622 | (7979) |
| Health Care |  | 27263 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 27263 | 0 |
| Industrials |  | 16246 | 0 | 0 | 0 | 0 | 1918 | 0 | 0 | 18164 | 1918 |
| Warrants |  |  |  |  |  |  |  |  |  |  |  |
| Communication Services |  | 2095 | 0 | (1888) | 0 | 499 | (706) | 0 | 0 | 0 | 0 |
| Financials |  | 1 | 765 | 0 | 0 | 0 | (61) | 0 | 0 | 705 | (61) |
| Preferred Securities |  |  |  |  |  |  |  |  |  |  |  |
| Banking & Finance |  | 0 | 4111 | 0 | 0 | 0 | 0 | 0 | 0 | 4111 | 0 |
| Industrials |  | 3254 | 0 | 0 | 0 | 0 | 119 | 0 | 0 | 3373 | 119 |
|  | $138003 | 138003 | $26265 | $(19726) | $56 | $5552 | $(1358) | $20945 | $(530) | $169207 | $(2514) |
| **Financial Derivative Instruments - Assets** | **Financial Derivative Instruments - Assets** | **Financial Derivative Instruments - Assets** | **Financial Derivative Instruments - Assets** | **Financial Derivative Instruments - Assets** | **Financial Derivative Instruments - Assets** | **Financial Derivative Instruments - Assets** | **Financial Derivative Instruments - Assets** | **Financial Derivative Instruments - Assets** | **Financial Derivative Instruments - Assets** | **Financial Derivative Instruments - Assets** | **Financial Derivative Instruments - Assets** |
| Over the counter | $197 | 197 | $1 | $0 | $0 | $0 | $4 | $0 | $0 | $202 | $4 |
| Totals | $138200 | 138200 | $26266 | $(19726) | $56 | $5552 | $(1354) | $20945 | $(530) | $169409 | $(2510) |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <br>**The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:** | <br>**The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:** | <br>**The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:** | <br>**The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:** | <br>**The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:** | <br>**The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:** |
|  |  |  |  | (% Unless Noted Otherwise) | (% Unless Noted Otherwise) |
| Category and Subcategory | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Valuation Technique | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Valuation Technique | &nbsp;&nbsp;&nbsp;&nbsp; Unobservable Inputs | Input Value(s) | Weighted Average |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** |
| Loan Participations and Assignments | 11891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Comparable Companies | &nbsp;&nbsp;&nbsp;&nbsp; EBITDA Multiple | 16.290 |  |
|  | 13133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discounted Cash Flow | &nbsp;&nbsp;&nbsp;&nbsp; Discount Rate | 6.818 - 50.000 | 9.428 |
|  | 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost | &nbsp;&nbsp;&nbsp;&nbsp; Purchase Price | 100.000 |  |
|  | 5256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indicative Market Quotation | &nbsp;&nbsp;&nbsp;&nbsp; Broker Quote | 101.250 |  |
|  | 30277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Third Party Vendor | &nbsp;&nbsp;&nbsp;&nbsp; Broker Quote | 40.500 - 100.500 | 96.842 |
| Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes | Corporate Bonds & Notes |
| Industrials | 20755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Comparable Companies / Discounted Cash Flow | &nbsp;&nbsp;&nbsp;&nbsp; Revenue Multiple/Discount Rate | 0.970/10.000 |  |
|  | 1105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indicative Market Quotation | &nbsp;&nbsp;&nbsp;&nbsp; Broker Quote | 62.500 - 71.000 | 65.231 |
|  | 16570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recent Transaction | &nbsp;&nbsp;&nbsp;&nbsp; Purchase Price | 100.000 |  |
| U.S. Government Agencies | 8424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discounted Cash Flow | &nbsp;&nbsp;&nbsp;&nbsp; Discount Rate | 11.331 |  |
| Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities | Asset-Backed Securities |
| Other ABS | 1341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discounted Cash Flow | &nbsp;&nbsp;&nbsp;&nbsp; Discount Rate | 12.000 – 20.000 | 13.778 |
| Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks | Common Stocks |
| Communication Services | 2646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discounted Cash Flow | &nbsp;&nbsp;&nbsp;&nbsp; Discount Rate | 7.930 |  |
|  | 350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reference Instrument | &nbsp;&nbsp;&nbsp;&nbsp; Stock Price w/Liquidity Discount | 12.000 |  |
| Consumer Discretionary | 21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Comparable Companies / Discounted Cash Flow | &nbsp;&nbsp;&nbsp;&nbsp; Revenue Multiple/Discount Rate | 0.500/20.750 |  |
| Financials | 3622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reference instrument | &nbsp;&nbsp;&nbsp;&nbsp; Stock Price w/Liquidity Discount | 8.150 |  |
| Health Care | 27263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Comparable Companies | &nbsp;&nbsp;&nbsp;&nbsp; EBITDA Multiple | 16.290 |  |
| Industrials | 12606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Comparable Companies / Discounted Cash Flow | &nbsp;&nbsp;&nbsp;&nbsp; Revenue Multiple/Discount Rate | 0.970/10.000 |  |
|  | 5558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indicative Market Quotation | &nbsp;&nbsp;&nbsp;&nbsp; Broker Quote | $0.375 - 21.667 | 20.394 |
| Warrants | Warrants | Warrants | Warrants | Warrants | Warrants |
| Financials | 705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Option Pricing Model | &nbsp;&nbsp;&nbsp;&nbsp; Volatility | 62.500 |  |
| Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities | Preferred Securities |
| Banking & Finance | 4111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recent Transaction | &nbsp;&nbsp;&nbsp;&nbsp; Purchase Price | $1000.000 |  |
| Industrials | 293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Comparable Companies | &nbsp;&nbsp;&nbsp;&nbsp; EBITDA Multiple | 12.250 |  |
|  | 3080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discounted Cash Flow | &nbsp;&nbsp;&nbsp;&nbsp; Discount Rate | 13.622 |  |

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<br> Schedule of Investments PIMCO High Income Fund (Cont.) September 30, 2025 (Unaudited)

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Financial** **Derivative Instruments** **- Assets** | **Financial** **Derivative Instruments** **- Assets** | **Financial** **Derivative Instruments** **- Assets** | **Financial** **Derivative Instruments** **- Assets** | **Financial** **Derivative Instruments** **- Assets** | **Financial** **Derivative Instruments** **- Assets** | **Financial** **Derivative Instruments** **- Assets** |
| Over the counter | Over the counter | 202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indicative Market Quotation | &nbsp;&nbsp;&nbsp;&nbsp; Broker Quote | 0.939 - 6.009 | 5.933 |
| Total | Total | $169409 |  |  |  |  |
| <sup>(1)</sup> | Net Purchases and Settlements for Financial Derivative Instruments may include payments made or received upon entering into swap agreements to compensate for differences between the stated terms of the swap agreement and prevailing market conditions. | Net Purchases and Settlements for Financial Derivative Instruments may include payments made or received upon entering into swap agreements to compensate for differences between the stated terms of the swap agreement and prevailing market conditions. | Net Purchases and Settlements for Financial Derivative Instruments may include payments made or received upon entering into swap agreements to compensate for differences between the stated terms of the swap agreement and prevailing market conditions. | Net Purchases and Settlements for Financial Derivative Instruments may include payments made or received upon entering into swap agreements to compensate for differences between the stated terms of the swap agreement and prevailing market conditions. | Net Purchases and Settlements for Financial Derivative Instruments may include payments made or received upon entering into swap agreements to compensate for differences between the stated terms of the swap agreement and prevailing market conditions. | Net Purchases and Settlements for Financial Derivative Instruments may include payments made or received upon entering into swap agreements to compensate for differences between the stated terms of the swap agreement and prevailing market conditions. |
| <sup>(2)</sup> | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at September 30, 2025 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at September 30, 2025 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at September 30, 2025 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at September 30, 2025 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at September 30, 2025 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at September 30, 2025 may be due to an investment no longer held or categorized as Level 3 at period end. |

---

------

Notes to Financial Statements

**1** **. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS**

**(a) Investment Valuation Policies** The net asset value ("NAV") of the Fund's shares, or each of its share classes, as applicable, is determined by dividing the total value of portfolio investments and other assets attributable to the Fund or class, less any liabilities, as applicable, by the total number of shares outstanding.

On each day that the New York Stock Exchange ("NYSE") is open, each Fund's shares are ordinarily valued as of the close of regular trading (normally 4:00 p.m., Eastern time) ("NYSE Close"). Information that becomes known to the Fund or its agents after the time as of which NAV has been calculated on a particular day will not generally be used to retroactively adjust the price of a security or the NAV determined earlier that day. If regular trading on the NYSE closes earlier than scheduled, each Fund may calculate its NAV as of the earlier closing time or calculate its NAV as of the NYSE Close for that day. Each Fund generally does not calculate its NAV on days on which the NYSE is not open for business. If the NYSE is closed on a day it would normally be open for business, each Fund may calculate its NAV as of the NYSE Close for such day or such other time that the Fund may determine.

For purposes of calculating NAV, portfolio securities and other assets for which market quotations are readily available are valued at market value. A market quotation is readily available only when that quotation is a quoted price (unadjusted) in active markets for identical investments that the Fund can access at the measurement date, provided that a quotation will not be readily available if it is not reliable. Market value is generally determined on the basis of official closing prices or the last reported sales prices. The Fund will normally use pricing data for domestic equity securities received shortly after the NYSE Close and does not normally take into account trading, clearances or settlements that take place after the NYSE Close. A foreign (non-U.S.) equity security traded on a foreign exchange or on more than one exchange is typically valued using pricing information from the exchange considered by Pacific Investment Management Company LLC ("PIMCO" or the "Manager") to be the primary exchange. If market value pricing is used, a foreign (non-U.S.) equity security will be valued as of the close of trading on the foreign exchange, or the NYSE Close if the NYSE Close occurs before the end of trading on the foreign exchange.

Investments for which market quotations are not readily available are valued at fair value as determined in good faith pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended (the "Act"). As a general principle, the fair value of a security or other asset is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Pursuant to Rule 2a-5, the Board of Trustees has designated PIMCO as the valuation designee ("Valuation Designee") for each Fund to perform the fair value determination relating to all Fund investments. PIMCO may carry out its designated responsibilities as Valuation Designee through various teams and committees. The Valuation Designee's policies and procedures govern the Valuation Designee's selection and application of methodologies for determining and calculating the fair value of Fund portfolio investments. The Valuation Designee may value Fund portfolio securities for which market quotations are not readily available and other Fund assets utilizing inputs from pricing services, quotation reporting systems, valuation agents and other third-party sources (together, "Pricing Sources").

Domestic and foreign (non-U.S.) fixed income securities, non-exchange traded derivatives and equity options are normally valued on the basis of quotes obtained from brokers and dealers or Pricing Sources using data reflecting the earlier closing of the principal markets for those securities. Prices obtained from Pricing Sources may be based on, among other things, information provided by market makers or estimates of market values obtained from yield data relating to investments or securities with similar characteristics. Certain fixed income securities purchased on a delayed-delivery basis are marked to market daily until settlement at the forward settlement date. Common stocks, exchange-traded funds ("ETFs"), exchange-traded notes and financial derivative instruments, such as futures contracts, rights and warrants, or options on futures that are traded on a national securities exchange, are stated at the last reported sale or settlement price on the day of valuation. Exchange-traded options, except equity options, futures and options on futures, are valued at the settlement price determined by the relevant exchange. Swap agreements and swaptions are valued on the basis of bid quotes obtained from brokers and dealers or market-based prices supplied by Pricing Sources. With respect to any portion of the Fund's assets that are invested in one or more open-end management investment companies (other than ETFs), the Fund's NAV will be calculated based on the NAVs of such investments. Open-end management investment companies may include affiliated funds.

If a foreign (non-U.S.) equity security's value has materially changed after the close of the security's primary exchange or principal market but before the NYSE Close, the security may be valued at fair value. Foreign (non-U.S.) equity securities that do not trade when the NYSE is open are also valued at fair value. With respect to foreign (non-U.S.) equity securities, the Fund may determine the fair value of investments based on information provided by Pricing Sources, which may recommend fair value or adjustments with reference to other securities, indexes or assets. In considering whether fair valuation is required and in determining fair values, the Valuation Designee may, among other things, consider significant events (which may be considered to include changes in the value of U.S. securities or securities indexes) that occur after the close of the relevant market and before the NYSE Close. The Fund may utilize modeling tools provided by third-party vendors to determine fair values of foreign (non-U.S.) securities. For these purposes, unless otherwise determined by the Valuation Designee, any movement in the applicable reference index or instrument ("zero trigger") between the earlier close of the applicable foreign market and the NYSE Close may be deemed to be a significant event, prompting the application of the pricing model (effectively resulting in daily fair valuations). Foreign exchanges may permit trading in foreign (non-U.S.) equity securities on days when the Fund is not open for business, which may result in the Fund's portfolio investments being affected when shareholders are unable to buy or sell shares.

Investments valued in currencies other than the U.S. dollar are converted to the U.S. dollar using exchange rates obtained from Pricing Sources. As a result, the value of such investments and, in turn, the NAV of the Fund's shares may be affected by changes in the value of currencies in relation to the U.S. dollar. The value of investments traded in markets outside the United States or denominated in currencies other than the U.S. dollar may be affected significantly on a day that the Fund is not open for business. As a result, to the extent that the Fund holds foreign (non-U.S.) investments, the value of those investments may change at times when shareholders are unable to buy or sell shares and the value of such investments will be reflected in the Fund's next calculated NAV. An alternative exchange rate may be obtained from a Pricing Source or an exchange rate may otherwise be determined if believed to be more reflective of the rates at which the Fund may transact.

Fair valuation may require subjective determinations about the value of a security. While the Fund's and Valuation Designee's policies and procedures are intended to result in a calculation of the Fund's NAV that fairly reflects security values as of the time of pricing, the Fund cannot ensure that fair values accurately reflect the price that the Fund could obtain for a security if it were to dispose of that security as of the time of pricing (for instance, in a forced or distressed sale). The prices used by the Fund may differ from the value that would be realized if the securities were sold.

**(b) Fair Value Hierarchy** U.S. GAAP describes fair value as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into levels (Level 1, 2 or 3). The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

• Level 1 — Quoted prices (unadjusted) in active markets or exchanges for identical assets and liabilities.

------

Notes to Financial Statements (Cont.)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• Level 2 — Significant other observable inputs, which may include, but are not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market corroborated inputs.

• Level 3 — Significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available, which may include assumptions made by the Valuation Designee that are used in determining the fair value of investments.

Assets or liabilities categorized as Level 2 or 3 as of period end have been transferred between Levels 2 and 3 since the prior period due to changes in the method utilized in valuing the investments. Transfers from Level 2 to Level 3 are a result of a change, in the normal course of business, from the use of methods used by Pricing Sources (Level 2) to the use of a Broker Quote or valuation technique which utilizes significant unobservable inputs due to an absence of current or reliable market-based data (Level 3). In accordance with the requirements of U.S. GAAP, the amounts of transfers into and out of Level 3, if material, are disclosed in the Notes to Schedule of Investments for the Fund.

For fair valuations using significant unobservable inputs, U.S. GAAP requires a reconciliation of the beginning to ending balances for reported fair values that presents changes attributable to realized gain (loss), unrealized appreciation (depreciation), purchases and sales, accrued discounts (premiums), and transfers into and out of the Level 3 category during the period. The end of period value is used for the transfers between fair value Levels of the Fund's assets and liabilities. Additionally, U.S. GAAP requires quantitative information regarding the significant unobservable inputs used in the determination of fair value of assets or liabilities categorized as Level 3 in the fair value hierarchy. In accordance with the requirements of U.S. GAAP, a fair value hierarchy and, if material, a Level 3 reconciliation and details of significant unobservable inputs, have been included in the Notes to Schedule of Investments for the Fund.

**(c) Valuation Techniques and the Fair Value Hierarchy**

**Level 1, Level 2 and Level 3 trading assets and trading liabilities, at fair value** The valuation methods (or "techniques") and significant inputs used in determining the fair values of portfolio securities or other assets and liabilities categorized as Level 1, Level 2 and Level 3 of the fair value hierarchy are as follows:

Common stocks, ETFs, exchange-traded notes and financial derivative instruments, such as futures contracts, rights and warrants, or options on futures that are traded on a national securities exchange, are stated at the last reported sale or settlement price on the day of valuation. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized as Level 1 of the fair value hierarchy.

Investments in registered open-end investment companies (other than ETFs) will be valued based upon the NAVs of such investments and are categorized as Level 1 of the fair value hierarchy. Investments in unregistered open-end investment companies will be calculated based upon the NAVs of such investments and are considered Level 1 provided that the NAVs are observable, calculated daily and are the value at which both purchases and sales will be conducted.

Fixed income securities including corporate, convertible and municipal bonds and notes, U.S. government agencies, U.S. treasury obligations, sovereign issues, bank loans, convertible preferred securities, non-U.S. bonds and short-term debt instruments (such as commercial paper, time deposits and certificates of deposit) are normally valued on the basis of quotes obtained from brokers and dealers or Pricing Sources that use broker-dealer quotations, reported trades or valuation estimates from their internal pricing models. The Pricing Sources' internal models use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar assets. Securities that use similar valuation techniques and inputs as described above are categorized as Level 2 of the fair value hierarchy.

Fixed income securities purchased on a delayed-delivery basis or as a repurchase commitment in a sale-buyback transaction are marked to market daily until settlement at the forward settlement date and are categorized as Level 2 of the fair value hierarchy.

Mortgage-related and asset-backed securities are usually issued as separate tranches, or classes, of securities within each deal. These securities are also normally valued by Pricing Sources that use broker-dealer quotations, reported trades or valuation estimates from their internal pricing models. The pricing models for these securities usually consider tranche-level attributes, current market data, estimated cash flows and market-based yield spreads for each tranche, and incorporate deal collateral performance, as available. Mortgage-related and asset-backed securities that use similar valuation techniques and inputs as described above are categorized as Level 2 of the fair value hierarchy.

Valuation adjustments may be applied to certain securities that are solely traded on a foreign exchange to account for the market movement between the close of the foreign market and the NYSE Close. These securities are valued using Pricing Sources that consider the correlation of the trading patterns of the foreign security to the intraday trading in the U.S. markets for investments. Securities using these valuation adjustments are categorized as Level 2 of the fair value hierarchy. Preferred securities and other equities traded on inactive markets or valued by reference to similar instruments are also categorized as Level 2 of the fair value hierarchy.

Valuation adjustments may be applied to certain exchange traded futures and options to account for market movement between the exchange settlement and the NYSE Close. These securities are valued using quotes obtained from a quotation reporting system, established market makers or Pricing Sources. Financial derivatives using these valuation adjustments are categorized as Level 2 of the fair value hierarchy.

Equity exchange-traded options and over the counter financial derivative instruments, such as forward foreign currency contracts and options contracts derive their value from underlying asset prices, indexes, reference rates and other inputs or a combination of these factors. These contracts are normally valued on the basis of quotes obtained from a quotation reporting system, established market makers or Pricing Sources (normally determined as of the NYSE Close). Depending on the product and the terms of the transaction, financial derivative instruments can be valued by Pricing Sources using a series of techniques, including simulation pricing models. The pricing models use inputs that are observed from actively quoted markets such as quoted prices, issuer details, indexes, bid/ask spreads, interest rates, implied volatilities, yield curves, dividends and exchange rates. Financial derivative instruments that use similar valuation techniques and inputs as described above are categorized as Level 2 of the fair value hierarchy.

Centrally cleared swaps and over the counter swaps derive their value from underlying asset prices, indexes, reference rates and other inputs or a combination of these factors. They are valued using a broker-dealer bid quotation or on market-based prices provided by Pricing Sources (normally determined as of the NYSE Close). Centrally cleared swaps and over the counter swaps can be valued by Pricing Sources using a series of techniques, including simulation pricing models. The pricing models may use inputs that are observed from actively quoted markets such as the overnight index swap rate, interest rates, yield curves and credit spreads. These securities are categorized as Level 2 of the fair value hierarchy.

If third-party evaluated vendor pricing is not available or not deemed to be indicative of fair value, the Manager may elect to obtain Broker Quotes directly from the broker-dealer or passed through from a third-party vendor. In the event that fair value is based upon a single sourced Broker Quote, these securities are categorized as Level 3 of the fair value hierarchy. Broker Quotes are typically received from established market participants. Although independently received, the Manager does not have the transparency to view the underlying inputs which support the market quotation. Significant changes in the Broker Quote would have direct and proportional changes in the fair value of the security.

------

Notes to Financial Statements (Cont.)

Reference instrument valuation estimates fair value by utilizing the correlation of the security to one or more broad-based securities, market indices and/or other financial instruments, whose pricing information is readily available. Unobservable inputs may include those used in algorithms based on percentage change in the reference instruments and/or weights of each reference instrument. Significant changes in the unobservable inputs would result in direct and proportional changes in the fair value of the security. These securities are categorized as Level 2 or Level 3 of the fair value hierarchy depending on the source or input of the reference instrument.

Expected recovery valuation estimates that the fair value of an existing asset can be recovered, net of any liability. Significant changes in the unobservable inputs would result in direct and proportional changes in the fair value of the security. These securities are categorized as Level 3 of the fair value hierarchy.

The Discounted Cash Flow model is based on future cash flows generated by the investment and may be normalized based on expected investment performance. Future cash flows are discounted to present value using an appropriate rate of return, typically calibrated to the initial transaction date and adjusted based on Capital Asset Pricing Model and/or other market-based inputs. Significant changes in the unobservable inputs would result in direct and proportional changes in the fair value of the security. These securities are categorized as Level 3 of the fair value hierarchy.

The Comparable Companies model is based on application of valuation multiples from publicly traded comparable companies to the financials of the subject company. Adjustments may be made to the market-derived valuation multiples based on differences between the comparable companies and the subject company. Significant changes in the unobservable inputs would result in direct and proportional changes in the fair value of the security. These securities are categorized as Level 3 of the fair value hierarchy.

The Option Pricing Model is a commonly accepted method of allocating enterprise value across a capital structure. The method may be utilized when a capital structure includes multiple instruments with varying rights and preferences, there is no short term exit horizon, the nature of an exit event is unknown, or if the enterprise value is not sufficient to cover outstanding debt and preferred claims. The Option Pricing Model can also be used as a method to estimate enterprise value by 'back-solving' if there are recent indicative transactions for securities with the same issuer. The Option Pricing Model uses Black-Scholes option pricing, a generally accepted option model typically used to value call options, puts, warrants and convertible preferred securities. Significant changes in unobservable inputs would result in direct changes in the fair value of the security. These securities are categorized as level 3 of the fair value hierarchy.

Securities may be valued based on purchase prices of privately negotiated transactions. Significant changes in the unobservable inputs would result in direct and proportional changes in the fair value of the security. These securities are categorized as Level 3 of the fair value hierarchy.

Short-term debt instruments (such as commercial paper, time deposits and certificates of deposit) having a remaining maturity of 60 days or less may be valued at amortized cost, so long as the amortized cost value of such short-term debt instruments is approximately the same as the fair value of the instrument as determined without the use of amortized cost valuation. These securities are categorized as Level 2 or Level 3 of the fair value hierarchy depending on the source of the base price.

When a fair valuation method is applied by PIMCO that uses significant unobservable inputs, investments will be priced by a method that the Valuation Designee believes reflects fair value and are categorized as Level 3 of the fair value hierarchy.

**2. FEDERAL INCOME TAX MATTERS**

The Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (the "Code") and distribute all of its taxable income and net realized gains, if applicable, to shareholders. Accordingly, no provision for Federal income taxes has been made.

The Fund may be subject to local withholding taxes, including those imposed on realized capital gains. Any applicable foreign capital gains tax is accrued daily based upon net unrealized gains, and may be payable following the sale of any applicable investments.

In accordance with U.S. GAAP, the Manager has reviewed the Fund's tax positions for all open tax years. As of September 30, 2025, the Fund has recorded no liability for net unrecognized tax benefits relating to uncertain income tax positions it has taken or expects to take in future tax returns.

The Fund files U.S. federal, state and local tax returns as required. The Fund's tax returns are subject to examination by relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return but which can be extended to six years in certain circumstances. Tax returns for open years have incorporated no uncertain tax positions that require a provision for income taxes.

**3. INVESTMENTS IN AFFILIATES**

The Fund may invest in the PIMCO Short Asset Portfolio and the PIMCO Short-Term Floating NAV Portfolio III ("Central Funds") to the extent permitted by the Act, rules thereunder or exemptive relief therefrom. The Central Funds are registered investment companies created for use solely by the series of the Trust and other series of registered investment companies advised by the Adviser, in connection with their cash management activities. The main investments of the Central Funds are money market and short maturity fixed income instruments. The Central Funds may incur expenses related to their investment activities, but do not pay Investment Advisory Fees or Supervisory and Administrative Fees to the Adviser. The Central Funds are considered to be affiliated with the Fund. A complete schedule of portfolio holdings for each affiliate fund is filed with the SEC for the first and third quarters of each fiscal year on Form N-PORT and is available at the SEC's website at www.sec.gov. A copy of each affiliate fund's shareholder report is also available at the SEC's website at www.sec.gov, on the Fund's website at www.pimco.com, or upon request, as applicable. The table below shows the Fund's transactions in and earnings from investments in the affiliated funds for the period ended September 30, 2025 (amounts in thousands<sup>†</sup>):

**Investment in PIMCO Short-Term Floating NAV Portfolio III**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Market Value<br>06/30/2025** | **Purchases at<br>Cost** | **Proceeds from<br>Sales** | **Net<br>Realized<br>Gain (Loss)** | **Change in<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Market Value<br>09/30/2025** | **Dividend<br>Income**<sup>(1)</sup> | **Realized Net<br>Capital<br>Gain<br>Distributions**<sup>(1)</sup> |
| $73274 | $114549 | $(152000) | $9 | $(6) | $35826 | $453 | $0 |

---

<sup>†</sup> A zero balance may reflect actual amounts rounding to less than one thousand.

<sup>(1)</sup> The tax characterization of distributions is determined in accordance with Federal income tax regulations and may contain a return of capital. The actual tax characterization of distributions received is determined at the end of the fiscal year of the affiliated fund.

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Glossary: (abbreviations that may be used in the preceding statements)** | **Glossary: (abbreviations that may be used in the preceding statements)** | **Glossary: (abbreviations that may be used in the preceding statements)** | **Glossary: (abbreviations that may be used in the preceding statements)** |  | (Unaudited) |
| **Counterparty Abbreviations:** | **Counterparty Abbreviations:** |  |  |  |  |
| **AZD** | Australia and New Zealand Banking Group | **DEU** | Deutsche Bank Securities, Inc. | **MBC** | HSBC Bank Plc |
| **BOA** | Bank of America N.A. | **DUB** | Deutsche Bank AG | **MYC** | Morgan Stanley Capital Services LLC |
| **BPS** | BNP Paribas S.A. | **FAR** | Wells Fargo Bank National Association | **NGF** | Nomura Global Financial Products, Inc. |
| **BRC** | Barclays Bank PLC | **GLM** | Goldman Sachs Bank USA | **SCX** | Standard Chartered Bank, London |
| **BSH** | Banco Santander S.A. - New York Branch | **GST** | Goldman Sachs International | **SOG** | Societe Generale Paris |
| **CBK** | Citibank N.A. | **IND** | Crédit Agricole Corporate and Investment Bank <br> S.A. | **SSB** | State Street Bank and Trust Co. |
| **CDC** | Natixis Securities Americas LLC | **JPM** | JP Morgan Chase Bank N.A. | **UBS** | UBS Securities LLC |
| **Currency Abbreviations:** | **Currency Abbreviations:** |  |  |  |  |
| **BRL** | Brazilian Real | **GBP** | British Pound | **PEN** | Peruvian New Sol |
| **CAD** | Canadian Dollar | **HKD** | Hong Kong Dollar | **TRY** | Turkish New Lira |
| **DOP** | Dominican Peso | **KWD** | Kuwaiti Dinar | **USD (or $)** | United States Dollar |
| **EUR** | Euro |  |  |  |  |
| **Index/Spread Abbreviations:** | **Index/Spread Abbreviations:** |  |  |  |  |
| **BISTREFI** | Turkish Lira Overnight Reference Rate | **GSMMUSTI** | Goldman Sachs Money Market US Treasury <br> Instrument Index | **TSFR1M** | Term SOFR 1-Month |
| **BRMMUSDF** | BlackRock Money Market US Treasury Fund Index | **JMMMUSTF** | JP Morgan Money Market US Treasury Fund Index | **TSFR3M** | Term SOFR 3-Month |
| **EUR003M** | 3 Month EUR Swap Rate | **SOFR** | Secured Overnight Financing Rate | **US0003M** | ICE 3-Month USD LIBOR |
| **EUR006M** | 6 Month EUR Swap Rate | **SONIO** | Sterling Overnight Interbank Average Rate |  |  |
| **Municipal Bond or Agency Abbreviations:** | **Municipal Bond or Agency Abbreviations:** |  |  |  |  |
| **ACA** | American Capital Access Holding Ltd. |  |  |  |  |
| **Other Abbreviations:** | **Other Abbreviations:** |  |  |  |  |
| **ABS** | Asset-Backed Security | **EURIBOR** | Euro Interbank Offered Rate | **REMIC** | Real Estate Mortgage Investment Conduit |
| **CDO** | Collateralized Debt Obligation | **JSC** | Joint Stock Company | **TBA** | To-Be-Announced |
| **CLO** | Collateralized Loan Obligation | **OIS** | Overnight Index Swap | **TBD** | To-Be-Determined |
| **DAC** | Designated Activity Company | **PIK** | Payment-in-Kind | **TBD%** | Interest rate to be determined when loan settles or at the time of funding |
| **EBITDA** | Earnings before Interest, Taxes, Depreciation and Amoritization |  |  |  |  |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** PIMCO High Income Fund

- **b. Investment Company Act file number:** 811-21311

- **c. CIK number of Registrant:** 0001219360

- **d. LEI of Registrant:** TYNS8LL5KA936NJZN198

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

  - **Street Address 1:** 1633 Broadway

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10019

  - **Telephone number:** (844) 337-4626

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

- **a. Name of Series:** N/A

- **c. LEI of Series:** N/A

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

- **a. Date of fiscal year-end:** 2026-06-30

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1099246740.98

**Total Liabilities:** $266479608.80

**Net Assets:** $832767132.18

**Delayed Delivery Securities:** $16570000.00

**Cash Not Reported:** $8089879.22

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 16453.697000 | **1-Year:** 9400.534200 | **5-Year:** 18782.092200 | **10-Year:** 13099.690800 | **30-Year:** -5303.848700

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

- **3-Month:** 41760.144800 | **1-Year:** 52231.903800 | **5-Year:** 97623.318300 | **10-Year:** 23465.849600 | **30-Year:** 2253.005600

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 2.71%                | 2.67%                | 1.63%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1309455.20              | $-112813.74                                |
| Month 2  | $5664892.27              | $-4190417.31                               |
| Month 3  | $312283.68               | $4443300.54                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| WSTN TRUST 2023-MAUI                                                       | WSTN TRUST WSTN 2023 MAUI D 144A                           | CUSIP: 92943AAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1600000 | PA      | $1611237.60   | 0.19%             | 2037-07-05      | Variable      | 8.75%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS (PEMEX)                                                | PETROLEOS MEXICANOS COMPANY GUAR 06/29 8.75                | CUSIP: 71654QDL3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   1257000 | PA      | $1354873.79   | 0.16%             | 2029-06-02      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| COGENT COMMUNICATIONS GROUP LLC / COGENT FINANCE INC                       | COGENT COMMS GRP / FIN COMPANY GUAR 144A 06/27 7           | CUSIP: 19240CAE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1098007.33   | 0.13%             | 2027-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| JETBLUE AIRWAYS CORP / JETBLUE LOYALTY LP                                  | JETBLUE AIRWAYS/LOYALTY SR SECURED 144A 09/31 9.875        | CUSIP: 476920AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3133000 | PA      | $3180392.89   | 0.38%             | 2031-09-20      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| HILTON USA TRUST 2016-SFP                                                  | HILTON USA TRUST HILT 2016 SFP A 144A                      | CUSIP: 43289VAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    900000 | PA      | $754641.45    | 0.09%             | 2035-11-05      | Fixed         | 2.83%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC-3203                                                           | FREDDIE MAC FHR 3203 SH                                    | CUSIP: 31397AR21<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    177255 | PA      | $24159.56     | 0.00%             | 2036-08-15      | Floating      | 2.65%                 | No            |                  2 | On Loan: No      |
| DIVERSIFIED HEALTHCARE TRUST                                               | DIVERSIFIED HEALTHCARE T SR SECURED 144A 10/30 7.25        | CUSIP: 25525PAE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $407031.82    | 0.05%             | 2030-10-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | RFR USD SOFR/3.75000 12/20/23-5Y CME                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $375594.85    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| WAMU MTGE P/T CERT 2007-HY5                                                | WAMU MORTGAGE PASS THROUGH CER WAMU 2007 HY5 2A1           | CUSIP: 92990GAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     51041 | PA      | $42040.89     | 0.01%             | 2037-05-25      | Floating      | 3.41%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | RFR USD SOFR/3.75000 06/20/24-5Y LCH                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $938508.64    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| FANNIE MAE REMICS 2012-93                                                  | FANNIE MAE FNR 2012 93 DI                                  | CUSIP: 3136A8JY7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     18694 | PA      | $358.10       | 0.00%             | 2027-09-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | REVERSE REPO DEUTSCHE REVERSE REPO                         | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        |  -3285386 | PA      | $-3293726.74  | -0.40%            |  |  |  | No            |                  2 | On Loan: No      |
| DUKE FUNDING LTD 2003-5A                                                   | DUKE FUNDING LTD DUKEF 2003 5A 1A2 144A                    | CUSIP: 264402AB4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  13522518 | PA      | $1612371.01   | 0.19%             | 2033-08-07      | Floating      | 8.14%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE ALTERNATIVE LN TR 2006-45T1                                    | COUNTRYWIDE ALTERNATIVE LOAN T CWALT 2006 45T1 1A13        | CUSIP: 02149JAN6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2726451 | PA      | $972889.43    | 0.12%             | 2037-02-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | REVERSE REPO NATEXIS BANQUE REVERSE REPO                   | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        |  -1303932 | PA      | $-1304099.75  | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| OCADO GROUP PLC                                                            | OCADO GROUP PLC OCADO GROUP PLC                            | CUSIP: ACI2QDHC0<br>LEI: 213800LO8F61YB8MBC74 | Long             | DBT              | CORP              | GB        |   1750000 | PA      | $2351913.89   | 0.28%             | 2029-08-08      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| GATEWAY CASINOS & ENTERTAINMENT LIMITED                                    | GATEWY CSINS + ENTRTINMNT LTD 2024 TERM LOAN B             | CUSIP: BA000DCX3<br>LEI: 549300JSKBQMMD1B3U44 | Long             | LON              | CORP              | CA        |   5455946 | PA      | $5461075.07   | 0.66%             | 2030-12-18      | Floating      | 10.28%                | No            |                  2 | On Loan: No      |
| NEWFOLD DIGITAL HOLDINGS GROUP INC                                         | NEWFOLD DIGITAL HLDGS GR SR UNSECURED 144A 02/29 6         | CUSIP: 29279XAA8<br>LEI: 549300UTQC2651SB0W88 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $750000.00    | 0.09%             | 2029-02-15      | Fixed         | 6.00%                 | No            |                  3 | On Loan: No      |
| CIFC FUNDING LTD 2014-3A                                                   | CIFC FUNDING LTD CIFC 2014 3A INC 144A                     | CUSIP: 12549TAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2441000 | PA      | $1494183.04   | 0.18%             | 2026-07-22      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | BOUGHT TRY SOLD USD 20251203                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | TR        |         1 | NC      | $2920.63      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ROMANIA GOVT                                                               | ROMANIA ROMANIA                                            | CUSIP: ACI2P7GX9<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |   1000000 | PA      | $1173181.87   | 0.14%             | 2032-05-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FORESEA HOLDING SA                                                         | DRILLCO HLDG LUX SA COMMON STOCK                           | CUSIP: 000000000<br>LEI: 254900BAD50AKYGIMV79 | Long             | EC               | CORP              | LU        |     17054 | NS      | $369503.34    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CREDIT SUISSE GROUP AG                                                     | CS AT1 CLAIMS US225401AK46 CREDIT SUISSE GROUP AG          | CUSIP: 952NPK908<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | US        |    200000 | PA      | $26000.00     | 0.00%             | 2060-12-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| OCP CLO LTD 2016-11A                                                       | OCP CLO LTD OCP 2016 11A PREF 144A                         | CUSIP: 67092H209<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     15547 | PA      | $6294131.90   | 0.76%             | 2036-04-26      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| EUROSAIL PLC 2007-3X                                                       | EUROSAIL PLC ESAIL 2007 3X E1C REGS                        | CUSIP: G3299SAF2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | GB        |    988083 | PA      | $1105570.17   | 0.13%             | 2045-06-13      | Floating      | 8.09%                 | No            |                  2 | On Loan: No      |
| TITANIUM 2L BONDCO SA RL                                                   | TITANIUM 2L BONDCO S.? R.L. EO 01/31 6.25                  | CUSIP: ACI2R0R44<br>LEI: 636700S4QMU2DWYOSF67 | Long             | DBT              | CORP              | LU        |   8544900 | PA      | $2636293.55   | 0.32%             | 2031-01-14      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BANC OF AMERICA ALT LOAN TRUST 2007-2                                      | BANC OF AMERICA ALTERNATIVE LO BOAA 2007 2 3A1             | CUSIP: 059475AQ6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1624469 | PA      | $208118.51    | 0.02%             | 2037-06-25      | Floating      | 2.37%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | SOLD PEN BOUGHT USD 20251217                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | PE        |         1 | NC      | $-20942.57    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MAREX GROUP PLC                                                            | MAREX GROUP PLC SR UNSECURED 11/29 6.404                   | CUSIP: 566539AA0<br>LEI: 549300DWX0SVICJAL507 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $309481.86    | 0.04%             | 2029-11-04      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | RFRF USD SF+26.161/3.50 9/19/23-21Y* CME                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $-35729144.99 | -4.29%            |  |  |  | No            |                  2 | On Loan: No      |
| WINSTON RE LTD                                                             | WINSTON RE LTD UNSECURED 144A 02/31 VAR                    | CUSIP: 975660AB7<br>LEI: 2549001Q4VX5Y31QFJ88 | Long             | DBT              | CORP              | BM        |    700000 | PA      | $756105.00    | 0.09%             | 2031-02-26      | Floating      | 15.62%                | No            |                  2 | On Loan: No      |
| STEPSTONE GROUP MIDCO 2 GMBH                                               | STEPSTNE GRUP MDCO 2 GMBH THE USD TERM LOAN                | CUSIP: BA000BVC2<br>LEI: 894500DB5T5ENCFFQU61 | Long             | LON              | CORP              | US        |   1496250 | PA      | $1423307.81   | 0.17%             | 2031-12-19      | Floating      | 8.61%                 | No            |                  2 | On Loan: No      |
| FORESEA HOLDING SA                                                         | DRILLCO HLDG LUX S A COMMON STOCK                          | CUSIP: 000000000<br>LEI: 254900BAD50AKYGIMV79 | Long             | EC               | CORP              | LU        |    153495 | NS      | $3325725.05   | 0.40%             |  |  |  | Yes           |                  3 | On Loan: No      |
| EAST LANE RE VII LTD                                                       | EAST LANE RE VII LTD UNSECURED 144A 03/26 VAR              | CUSIP: 27332EAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    250000 | PA      | $254325.00    | 0.03%             | 2026-03-31      | Floating      | 12.82%                | No            |                  2 | On Loan: No      |
| N/A                                                                        | RFR USD SOFR/2.30000 01/17/24-2Y LCH                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $44382.15     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| WESTMET GROUP HOLDINGS LLC                                                 | EQTYWM927 WESTMORELAND MINING                              | CUSIP: 952XGJII0<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    275905 | NS      | $310393.37    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| N/A                                                                        | IRS EUR 0.65000 02/26/19-10Y LCH                           | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | N/A       |         1 | NC      | $-3922800.40  | -0.47%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | BOUGHT TRY SOLD USD 20251003                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | TR        |         1 | NC      | $91494.63     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | RFR USD SOFR/3.75000 12/20/23-5Y LCH                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $261580.01    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| THAMES WATER SUPER SENIOR ISSUER PLC                                       | THAMES WATER SUPER SEN SR SECURED 144A 10/27 9.75          | CUSIP: ACI2VXTH6<br>LEI: 635400LBEYCV7F4FC741 | Long             | DBT              | CORP              | GB        |      5230 | PA      | $7855.57      | 0.00%             | 2027-10-10      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVT                                                               | ROMANIA SR UNSECURED 144A 07/39 6.75                       | CUSIP: ACI2W0SC9<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |   2300000 | PA      | $2755213.96   | 0.33%             | 2039-07-11      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CITIGROUP MORTGAGE LOAN TRUST 2014-6                                       | CITIGROUP MORTGAGE LOAN TRUST CMLTI 2014 6 3A3 144A        | CUSIP: 17322WAK0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8754239 | PA      | $4297406.24   | 0.52%             | 2035-11-25      | Variable      | 5.02%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                                    | HCA INC COMPANY GUAR 11/95 7.5                             | CUSIP: 197677AH0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1746000 | PA      | $1945424.92   | 0.23%             | 2095-11-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORPORATION                                                       | DISH DBS CORP SR SECURED 144A 12/28 5.75                   | CUSIP: 25470XBF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12450000 | PA      | $11945650.50  | 1.43%             | 2028-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | SOLD DOP BOUGHT USD 20260320                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $804.46       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| YAHOO (AKA: AP CORE HOLDINGS II LLC)                                       | AP CORE HOLDINGS II LLC AMORTIZATION TERM LOAN B1          | CUSIP: 00187GAC3<br>LEI: 549300PND8ZZ4RWYRZ56 | Long             | LON              | CORP              | US        |    991693 | PA      | $967827.89    | 0.12%             | 2027-09-01      | Floating      | 9.78%                 | No            |                  2 | On Loan: No      |
| UMBS PASS THRU POOLS                                                       | FNMA TBA 30 YR 3 SINGLE FAMILY MORTGAGE                    | CUSIP: 01F0306A1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    100000 | PA      | $87851.37     | 0.01%             | 2055-10-14      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS (PEMEX)                                                | PETROLEOS MEXICANOS COMPANY GUAR 01/30 6.84                | CUSIP: 71654QDC3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   1100000 | PA      | $1119566.80   | 0.13%             | 2030-01-23      | Fixed         | 6.84%                 | No            |                  2 | On Loan: No      |
| ADLER GROUP SA                                                             | ADLER GROUP SA   VTG SHS COMMON STOCK                      | CUSIP: ACI2RMKR2<br>LEI: 391200OYYFJ3DWAMEC69 | Long             | EP               | CORP              | LU        |   1524031 | NS      | $1.78         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| CALI MORTGAGE TRUST 2019-101C                                              | CALI MORTGAGE TRUST 2019 101C CALI 2019 101C A 144A        | CUSIP: 129890AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2200000 | PA      | $2111921.46   | 0.25%             | 2039-03-10      | Fixed         | 3.96%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | SOLD DOP BOUGHT USD 20260302                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $-15747.79    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| VALE SA                                                                    | VALE SA SUBORDINATED 12/49 VAR                             | CUSIP: B011X9II2<br>LEI: 254900SMTWBX7RU2SR20 | Long             | DBT              | CORP              | BR        | 120000000 | PA      | $8094321.01   | 0.97%             | 2049-12-29      | Variable      | 1.96%                 | No            |                  2 | On Loan: No      |
| CLOVER HOLDINGS 2 LLC                                                      | CLOVER HOLDINGS 2 LLC TERM LOAN B                          | CUSIP: 18914DAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6483750 | PA      | $6497949.41   | 0.78%             | 2031-12-09      | Floating      | 7.94%                 | No            |                  2 | On Loan: No      |
| GREEK GOVT                                                                 | HELLENIC REPUBLIC BONDS REGS 01/42 4.2                     | CUSIP: ACI0Z3HC6<br>LEI: 2138003EKTMKZ5598902 | Long             | DBT              | NUSS              | GR        |    119485 | PA      | $146540.80    | 0.02%             | 2042-01-30      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE                                                              | ALTICE FRANCE SA SR SECURED 144A 10/29 5.5                 | CUSIP: 02156LAH4<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   1200000 | PA      | $1043923.62   | 0.13%             | 2029-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CARLYLE GLOBAL MARKET STRATEGIES EURO CLO 2014-1 LTD 14-1A                 | CARLYLE GLOBAL MARKET STRATEGI CGMSE 2014 1A SUBR 144A     | CUSIP: ACI2VLBX6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | IE        |    548000 | PA      | $426834.67    | 0.05%             | 2038-04-15      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO LTD                                                        | NISSAN MOTOR CO SR UNSECURED 144A 09/30 4.81               | CUSIP: 654744AD3<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |   8700000 | PA      | $8201358.72   | 0.98%             | 2030-09-17      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| INGENICO TERMINALS (POSEIDON BIDCO)                                        | POSEIDON BIDCO SASU 2023 EUR TERM LOAN B                   | CUSIP: 953RGXII1<br>LEI: 254900LGX7YG7Y9YM766 | Long             | LON              | CORP              | GB        |   3000000 | PA      | $1655411.43   | 0.20%             | 2030-11-30      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| STRUCTURED ASSET MTGE INVEST 2006-AR6                                      | STRUCTURED ASSET MORTGAGE INVE SAMI 2006 AR6 1A3           | CUSIP: 86360UAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3927759 | PA      | $3154319.68   | 0.38%             | 2046-07-25      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| STEPSTONE GROUP MIDCO 2 GMBH                                               | STEPSTONE GROUP M 2 GMBH THE EUR TERM LOAN B               | CUSIP: BA000BNR8<br>LEI: 894500DB5T5ENCFFQU61 | Long             | LON              | CORP              | US        |   8000000 | PA      | $9263259.73   | 1.11%             | 2032-04-26      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT                                                         | TREASURY BILL 12/25 0.00000                                | CUSIP: 912797QY6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $992416.81    | 0.12%             | 2025-12-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| YINSON BERGENIA PRODUCTION BV                                              | YINSON BERGENIA PRODUCTI SR SECURED 144A 01/45 8.498       | CUSIP: 98585VAA6<br>LEI: 549300JDIAWKPMZD5256 | Long             | DBT              | CORP              | NL        |   1400000 | PA      | $1504294.58   | 0.18%             | 2045-01-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CVC CORDATUS LOAN FUND VI DAC 6A                                           | CORDATUS CLO PLC CORDA 6A SUB 144A                         | CUSIP: ACI17ZRB5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | IE        |   3120000 | PA      | $924721.87    | 0.11%             | 2032-04-15      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| NOMURA RESECURITIZATION TRUST 2014-3R                                      | NOMURA RESECURITIZATION TRUST NMRR 2014 3R 2A8 144A        | CUSIP: 65540LAX1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3715867 | PA      | $3330246.94   | 0.40%             | 2035-07-26      | Variable      | 3.73%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | RFR USD SOFR/3.50000 06/20/24-30Y LCH                      | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $2278637.42   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| COUNTRYWIDE ALTERNATIVE LOAN 2006-HY13                                     | COUNTRYWIDE ALTERNATIVE LOAN T CWALT 2006 HY13 4A1         | CUSIP: 02149DAN9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     66853 | PA      | $59247.22     | 0.01%             | 2037-02-25      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| CHASE MORTGAGE FINANCE CORP 2006-A1                                        | CHASE MORTGAGE FINANCE CORPORA CHASE 2006 A1 4A1           | CUSIP: 16163CAN2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     28378 | PA      | $24213.88     | 0.00%             | 2036-09-25      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| COLONY MORTGAGE CAPITAL SERIES LTD 2019-IKPR                               | COLONY MORTGAGE CAPITAL LTD CLNY 2019 IKPR D 144A          | CUSIP: 12564NAL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1700000 | PA      | $1643720.48   | 0.20%             | 2038-11-15      | Floating      | 6.61%                 | No            |                  2 | On Loan: No      |
| TURKEY GOVT                                                                | TURKIYE GOVERNMENT BOND BONDS 05/28 VAR                    | CUSIP: ACI2PJ5W7<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |  31100000 | PA      | $736067.06    | 0.09%             | 2028-05-17      | Floating      | 48.48%                | No            |                  2 | On Loan: No      |
| ACE SECURITIES CORP 2006-CW1                                               | ACE SECURITIES CORP. ACE 2006 CW1 A2C                      | CUSIP: 00441QAD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1392458 | PA      | $1150971.35   | 0.14%             | 2036-07-25      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| MERCURY AGGREGATOR LP                                                      | MERCURY AGGREGATOR L P TRANCHE 2 TERM LOAN                 | CUSIP: BA000FDW9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    893957 | PA      | $262910.39    | 0.03%             | 2026-04-03      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| JP MORGAN MORTGAGE TRUST 2006-S4                                           | JP MORGAN MORTGAGE TRUST JPMMT 2006 S4 A9                  | CUSIP: 46629SAJ1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  13177671 | PA      | $1910934.96   | 0.23%             | 2037-01-25      | Floating      | 2.35%                 | No            |                  2 | On Loan: No      |
| AVOCA CLO XIII  13X                                                        | AVOCA CLO AVOCA 13X SUB REGS                               | CUSIP: ACI0B8BB9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | IE        |   2150000 | PA      | $1247533.47   | 0.15%             | 2034-04-15      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| FORWARD AIR CORPORATION (CLUE OPCO LLC)                                    | FORWARD AIR CORPORATION TERM LOAN B                        | CUSIP: 18948EAC0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1796812 | PA      | $1795877.66   | 0.22%             | 2030-12-19      | Floating      | 8.81%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVT                                                               | ROMANIA SR UNSECURED 144A 09/31 5.125                      | CUSIP: ACI2R9YZ8<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |   1700000 | PA      | $1993670.69   | 0.24%             | 2031-09-24      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CITY OF DETROIT                                                            | DETROIT MI DET 04/44 ADJUSTABLE VAR                        | CUSIP: 251093S84<br>LEI: 549300BQRJP7MKKHOY28 | Long             | DBT              | MUN               | US        |   2286931 | PA      | $1801793.81   | 0.22%             | 2044-04-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| IBEX TOPCO BV                                                              | STEINHOFF CVR                                              | CUSIP: 948ECV905<br>LEI: 636700OGDKP5DOQ3LT67 | Long             | EC               | CORP              | NL        |  27368642 | NS      | $32.13        | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| N/A                                                                        | SOLD EUR BOUGHT USD 20251002                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $19261.62     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CDK GLOBAL (CENTRAL PARENT LLC / CDK GLOBAL II LLC / CDK FINANCING CO INC) | CNT PRNT/CDK GLO II/FIN SR SECURED 144A 06/29 8            | CUSIP: 154915AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5700000 | PA      | $5030284.77   | 0.60%             | 2029-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| NEW ORLEANS HOTEL TRUST 2019-HNLA                                          | NEW ORLEANS HOTEL TRUST NOHT 2019 HNLA C 144A              | CUSIP: 647622AE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $981719.90    | 0.12%             | 2032-04-15      | Floating      | 5.79%                 | No            |                  2 | On Loan: No      |
| THAMES WATER UTILITIES LIMITED                                             | THAMES WATER UTIL LTD SR SECURED 144A 03/27 0.00000        | CUSIP: ACI2VX3Q4<br>LEI: 213800JKM5UQHFJOTZ25 | Long             | DBT              | CORP              | GB        |       750 | PA      | $872.50       | 0.00%             | 2027-03-22      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KENNEDY WILSON EUROPE REAL ESTATE LIMITED                                  | KENNEDY WILSON EUR REAL SR UNSECURED REGS 11/25 3.25       | CUSIP: ACI0HXJ38<br>LEI: 213800WIL553Z1T6DZ52 | Long             | DBT              | CORP              | JE        |    315789 | PA      | $369947.39    | 0.04%             | 2025-11-12      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | RFRF USD SF+26.161/1.3* 08/25/23-5Y CME                    | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $1770513.13   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| BELLE HAVEN ABS CDO LTD 2006-1A                                            | BELLE HAVEN ABS CDO LTD BLHV 2006 1A A1 144A               | CUSIP: 078452AA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        | 185946964 | PA      | $428421.81    | 0.05%             | 2046-07-05      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA (VMED O2 UK FINANCING I PLC)                                  | VMED O2 UK FINANCING I SR SECURED 144A 04/32 5.625         | CUSIP: ACI2NJDT7<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |   3600000 | PA      | $4348887.89   | 0.52%             | 2032-04-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| UBISOFT ENTERTAINMENT                                                      | UBISOFT ENTERTAINMENT SA SR UNSECURED REGS 11/27 0.878     | CUSIP: ACI1SYQ75<br>LEI: 969500I7C8V1LBIMSM05 | Long             | DBT              | CORP              | FR        |   1000000 | PA      | $1096509.56   | 0.13%             | 2027-11-24      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| WINDSTREAM PARENT INC                                                      | NEW WINDSTREAM PREFERRED STOCK                             | CUSIP: 990AAJEB9<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      4111 | NS      | $4111170.00   | 0.49%             |  |  |  | No            |                  3 | On Loan: No      |
| FREDDIE MAC 2611                                                           | FREDDIE MAC FHR 2611 SQ                                    | CUSIP: 31393QYH9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     16151 | PA      | $16510.53     | 0.00%             | 2033-05-15      | Floating      | 4.03%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | RFR USD SOFR/1.75000 06/15/22-5Y LCH                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $-4001199.27  | -0.48%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | RFRF USD SF+26.161/2.00 7/15/23-27Y* CME                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $12787107.85  | 1.54%             |  |  |  | No            |                  2 | On Loan: No      |
| EQUINITI (ARMOR HOLDCO INC)                                                | ARMOR HOLDCO INC COMPANY GUAR 144A 11/29 8.5               | CUSIP: 04625PAA9<br>LEI: 254900X6HLK0YPTHHF09 | Long             | DBT              | CORP              | US        |   1900000 | PA      | $1897465.40   | 0.23%             | 2029-11-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| SMB PRIVATE EDUCATION LOAN TRUST 2015-A                                    | SMB PRIVATE EDUCATION LOAN TRU SMB 2015 A R 144A           | CUSIP: 78448P100<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4508 | PA      | $1043190.98   | 0.13%             | 2048-10-15      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| HA SUSTAINABLE INFRASTRUCTURE CAPITAL INC                                  | HA SUSTAINABLE INF CAP COMPANY GUAR 07/34 6.375            | CUSIP: 41068XAF7<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1018204.64   | 0.12%             | 2034-07-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | RFR GBP SONIO/0.75000 09/21/22-10Y LCH                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | GB        |         1 | NC      | $3491777.62   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| GRUPO NUTRESA SA                                                           | GRUPO NUTRESA SA COMPANY GUAR 144A 05/30 8                 | CUSIP: 40055CAA1<br>LEI: 254900KKAX7B7RJUE255 | Long             | DBT              | CORP              | CO        |    700000 | PA      | $750575.00    | 0.09%             | 2030-05-12      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| INTELSAT SA                                                                | SES S A COMMON STOCK                                       | CUSIP: 000000000<br>LEI: 549300YV2L21F4K80V46 | Long             | EC               | CORP              | LU        |    222366 | NS      | $2646322.40   | 0.32%             |  |  |  | No            |                  3 | On Loan: No      |
| FORD MOTOR COMPANY                                                         | FORD MOTOR COMPANY SR UNSECURED 05/97 7.7                  | CUSIP: 345370BS8<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   7745000 | PA      | $8186321.95   | 0.98%             | 2097-05-15      | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| ANTARES HOLDINGS LP                                                        | ANTARES HOLDINGS SR UNSECURED 144A 10/29 6.35              | CUSIP: 03666HAH4<br>LEI: 5493008EAIGV4283RM42 | Long             | DBT              | CORP              | US        |    500000 | PA      | $511509.05    | 0.06%             | 2029-10-23      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| DISH NETWORK CORPORATION                                                   | DISH NETWORK CORP SR UNSECURED 08/26 3.375                 | CUSIP: 25470MAB5<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |   5100000 | PA      | $4939350.00   | 0.59%             | 2026-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | SOLD DOP BOUGHT USD 20251126                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $-21579.73    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                                     | VENTURE GLOBAL LNG INC VENTURE GLOBAL LNG INC              | CUSIP: 92332YAE1<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2278078.44   | 0.27%             | 2030-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| VOYAGER AVIATION HOLDINGS LLC                                              | VOYAGER AVIATION HOLD SR SECURED 144A 05/26 8.5            | CUSIP: 92918XAA3<br>LEI: 549300KHOKL1CX4NIJ92 | Long             | DBT              | CORP              | US        |   3257680 | PA      | $0.03         | 0.00%             | 2026-05-09      | Fixed         | 8.50%                 | No            |                  3 | On Loan: No      |
| NEW IMMO HOLDING SA                                                        | NEW IMMO HOLDING SA SR UNSECURED REGS 07/27 3.25           | CUSIP: ACI1NZ8Z5<br>LEI: 5493007LOTJ0I8E94R81 | Long             | DBT              | CORP              | FR        |   1200000 | PA      | $1389997.37   | 0.17%             | 2027-07-23      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVT                                                               | ROMANIA ROMANIA                                            | CUSIP: ACI2P7GW1<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |   1000000 | PA      | $1123942.18   | 0.13%             | 2037-05-30      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| EVERGLADES RE II LTD                                                       | EVERGLADES RE II LTD UNSECURED 144A 05/31 VAR              | CUSIP: 30014LAM6<br>LEI: 5493000EE11S6ONK0372 | Long             | DBT              | CORP              | BM        |    400000 | PA      | $422380.00    | 0.05%             | 2031-05-13      | Floating      | 14.46%                | No            |                  2 | On Loan: No      |
| N/A                                                                        | BOUGHT GBP SOLD USD 20251002                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | GB        |         1 | NC      | $150544.24    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| COREWEAVE COMPUTE ACQUISITION CO II LLC                                    | COREWEAVE CMPTE ACQU CO II LLC 2024 DELAYED DRAW TERM LOAN | CUSIP: BA0004JK4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  10800000 | PA      | $11112297.77  | 1.33%             | 2029-05-30      | Floating      | 6.78%                 | No            |                  3 | On Loan: No      |
| N/A                                                                        | REVERSE REPO CREDIT AGRICOLE 03/14 VAR                     | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        | -18775318 | PA      | $-18788669.39 | -2.26%            |  |  |  | No            |                  2 | On Loan: No      |
| GSPA MONETIZATION TRUST                                                    | GSPA MONETIZATION TRUST PASS THRU CE 144A 10/29 6.422      | CUSIP: 36298GAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2973148 | PA      | $3001105.49   | 0.36%             | 2029-10-09      | Fixed         | 6.42%                 | No            |                  2 | On Loan: No      |
| SANDERS RE III LTD                                                         | SANDERS RE III LTD UNSECURED 144A 04/29 VAR                | CUSIP: 80000XAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1545000 | PA      | $965625.00    | 0.12%             | 2029-04-09      | Floating      | 16.28%                | No            |                  2 | On Loan: No      |
| INTELSAT SA                                                                | INTELSAT EMERGENCE SA COMMON STOCK                         | CUSIP: 000000000<br>LEI: 549300YV2L21F4K80V46 | Long             | EC               | CORP              | LU        |    222366 | NS      | $0.22         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| N/A                                                                        | RFR USD SOFR/2.00000 12/21/22-7Y CME                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $-3853509.86  | -0.46%            |  |  |  | No            |                  2 | On Loan: No      |
| UNITI GROUP LP / UNITI GROUP FINANCE 2019 INC / CSL CAPITAL LLC            | UNITI GROUP/CSL CAPITAL COMPANY GUAR 144A 02/29 6.5        | CUSIP: 91327BAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3290070.35   | 0.40%             | 2029-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC GOVT                                                    | DOMINICAN REPUBLIC SR UNSECURED 144A 03/37 10.5            | CUSIP: 25714PFD5<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        | 468600000 | PA      | $8071038.69   | 0.97%             | 2037-03-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| ENCORE CAPITAL GROUP INC                                                   | ENCORE CAPITAL GROUP INC SR SECURED 144A 04/31 6.625       | CUSIP: 292554AS1<br>LEI: 5493000UVC6H49CIH830 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1995429.82   | 0.24%             | 2031-04-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| MULTIPLAN INC (MPH ACQUISITION HOLDINGS LLC)                               | MPH ACQUISITION HOLDINGS SR SECURED 144A 12/30 5.75        | CUSIP: 553283AG7<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |   6200000 | PA      | $5418694.23   | 0.65%             | 2030-12-31      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE HOLDING SA                                                   | ALTICE FRANCE HOLDING SA SR SECURED REGS 05/27 8           | CUSIP: BL5F4LII6<br>LEI: 5299000JVHXKJPOE6H40 | Long             | DBT              | CORP              | LU        |   6700000 | PA      | $2855418.84   | 0.34%             | 2027-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| FINASTRA USA INC                                                           | FINASTRA USA INC 2025 2ND LIEN TERM LOAN                   | CUSIP: 31772YAB2<br>LEI: 549300ZB2RO6QC7YTK71 | Long             | LON              | CORP              | US        |    400000 | PA      | $399100.00    | 0.05%             | 2033-09-15      | Floating      | 11.04%                | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG                                                     | CS AT1 CLAIMS US225401AJ72 CREDIT SUISSE GROUP AG          | CUSIP: 952NPG006<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | US        |    400000 | PA      | $52000.00     | 0.01%             | 2060-12-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FORESEA HOLDING SA                                                         | FORESEA HLDG S A COMMON STOCK                              | CUSIP: 000000000<br>LEI: 254900BAD50AKYGIMV79 | Long             | EC               | CORP              | LU        |      7011 | NS      | $151905.00    | 0.02%             |  |  |  | No            |                  3 | On Loan: No      |
| TOPAZ SOLAR FARMS LLC                                                      | TOPAZ SOLAR FARMS LLC SR SECURED 144A 09/39 4.875          | CUSIP: 89054XAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1885555 | PA      | $1659288.40   | 0.20%             | 2039-09-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| URSA RE LTD                                                                | URSA RE LTD UNSECURED 144A 02/28 VAR                       | CUSIP: 90323WAR1<br>LEI: 549300O8X4DWGDJZ6W59 | Long             | DBT              | CORP              | BM        |    400000 | PA      | $403620.00    | 0.05%             | 2028-02-22      | Floating      | 11.43%                | No            |                  2 | On Loan: No      |
| WASHINGTON MUTUAL MTGE P/T 2006-3                                          | WASHINGTON MUTUAL MORTGAGE PAS WMALT 2006 3 4CB            | CUSIP: 93934FNT5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3825247 | PA      | $2921881.58   | 0.35%             | 2036-03-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVT                                                               | ROMANIA SR UNSECURED 144A 09/33 6.375                      | CUSIP: ACI2JSF94<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |   1000000 | PA      | $1232811.90   | 0.15%             | 2033-09-18      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CLAVEAU RE LTD                                                             | CLAVEAU RE LTD UNSECURED 144A 07/28 VAR                    | CUSIP: 182896AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    384113 | PA      | $0.00         | 0.00%             | 2028-07-08      | Floating      | 4.03%                 | No            |                  3 | On Loan: No      |
| CONNECTICUT AVENUE SECURITIES TRUST 2022-R01                               | FANNIE MAE   CAS CAS 2022 R01 1B2 144A                     | CUSIP: 20754LAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   2700000 | PA      | $2822165.28   | 0.34%             | 2041-12-25      | Floating      | 10.36%                | No            |                  2 | On Loan: No      |
| N/A                                                                        | BOUGHT TRY SOLD USD 20251001                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | TR        |         1 | NC      | $17646.71     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| COMISION EJECUTIVA HIDROELECTRICA DEL RIO LEMPA                            | COMISION EJ HI RIO LEMPA GOVT GUARANT REGS 01/33 8.65      | CUSIP: P3012UAA4<br>LEI: 254900YU43PQQ27Q0E71 | Long             | DBT              | CORP              | SV        |    150000 | PA      | $157035.00    | 0.02%             | 2033-01-24      | Fixed         | 8.65%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS (PEMEX)                                                | PETROLEOS MEXICANOS COMPANY GUAR 09/47 6.75                | CUSIP: 71654QCC4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   1098000 | PA      | $906872.13    | 0.11%             | 2047-09-21      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| TORREY PINES RE LTD                                                        | TORREY PINES RE LTD UNSECURED 144A 06/32 VAR               | CUSIP: 89141WAH5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $260687.50    | 0.03%             | 2032-06-07      | Floating      | 10.00%                | No            |                  2 | On Loan: No      |
| N/A                                                                        | IRS EUR 1.25000 08/19/19-30Y LCH                           | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | N/A       |         1 | NC      | $6251532.08   | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | SOLD DOP BOUGHT USD 20260115                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $39641.04     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2013-42                           | GOVERNMENT NATIONAL MORTGAGE A GNR 2013 42 I               | CUSIP: 38378JJZ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    364283 | PA      | $58473.68     | 0.01%             | 2043-03-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NOMURA ASSET ACCEPTANCE CORP 2006-AR2                                      | NOMURA ASSET ACCEPTANCE CORPOR NAA 2006 AR2 2A2            | CUSIP: 65535VUK2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2454292 | PA      | $2179476.04   | 0.26%             | 2036-04-25      | Floating      | 4.52%                 | No            |                  2 | On Loan: No      |
| HESTIA RE LTD                                                              | HESTIA RE LTD UNSECURED 144A 04/29 VAR                     | CUSIP: 42815KAA0<br>LEI: 549300QRKQ1ZKOXEMZ38 | Long             | DBT              | CORP              | BM        |     26829 | PA      | $15024.00     | 0.00%             | 2029-04-22      | Floating      | 4.06%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE                                                              | ALTICE FRANCE SA SR SECURED 144A 02/27 8.125               | CUSIP: 02156LAA9<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   1000000 | PA      | $956715.22    | 0.11%             | 2027-02-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| OCADO GROUP PLC                                                            | OCADO GROUP PLC SR UNSECURED REGS 06/30 11                 | CUSIP: ACI2WWMJ0<br>LEI: 213800LO8F61YB8MBC74 | Long             | DBT              | CORP              | GB        |   2950000 | PA      | $3991050.30   | 0.48%             | 2030-06-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS (PEMEX)                                                | PETROLEOS MEXICANOS COMPANY GUAR 02/32 6.7                 | CUSIP: 71643VAB1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   3463000 | PA      | $3434007.76   | 0.41%             | 2032-02-16      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| SEGOVIA EUROPEAN CLO 1 2014-1A                                             | SEGOVIA EUROPEAN CLO 1   2014 SEGOV 2014 1A SUB 144A       | CUSIP: ACI0QFG97<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | IE        |   1100000 | PA      | $397404.30    | 0.05%             | 2035-04-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ARGENTINA GOVT                                                             | REPUBLIC OF ARGENTINA SR UNSECURED 07/29 1                 | CUSIP: 040114HX1<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    130589 | PA      | $94807.47     | 0.01%             | 2029-07-09      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE ALTERNATIVE LN TR 2006-15CB                                    | COUNTRYWIDE ALTERNATIVE LOAN T CWALT 2006 15CB A1          | CUSIP: 021467AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    588964 | PA      | $270772.24    | 0.03%             | 2036-06-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONAL LTD                                              | WEATHERFORD INTERNATIONA SR UNSECURED 144A 10/33 6.75      | CUSIP: 947075AW7<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |   1400000 | PA      | $1401848.85   | 0.17%             | 2033-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY MORTGAGE TRUST-2006-16AX                                    | MORGAN STANLEY MORTGAGE LOAN T MSM 2006 16AX 3A1           | CUSIP: 617487AF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    935302 | PA      | $343181.80    | 0.04%             | 2036-11-25      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| THAMES WATER UTILITIES FINANCE PLC                                         | THAMES WATER UTIL FIN SR SECURED 02/34 6.5                 | CUSIP: 005048II6<br>LEI: 213800ESMPQ4RQ7G8351 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $95300.60     | 0.01%             | 2034-02-09      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MARLETTE FUNDING TRUST 2019-2                                              | MARLETTE FUNDING TRUST MFT 2019 2A CERT 144A               | CUSIP: 57109H102<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      9700 | PA      | $319.63       | 0.00%             | 2029-07-16      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| GREENGROVE RE LTD                                                          | GREENGROVE RE LTD UNSECURED 144A 04/32 VAR                 | CUSIP: 39526JAA9<br>LEI: 254900WH3CK41D9L7T70 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $250100.00    | 0.03%             | 2032-04-08      | Floating      | 11.71%                | No            |                  2 | On Loan: No      |
| RESIDENTIAL ASSET SEC TRUST 2006-A8                                        | RESIDENTIAL ASSET SECURITIZATI RAST 2006 A8 2A4            | CUSIP: 761119AJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    790043 | PA      | $219353.21    | 0.03%             | 2036-08-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | REVERSE REPO NATEXIS BANQUE REVERSE REPO                   | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        | -17587203 | PA      | $-17600803.28 | -2.11%            |  |  |  | No            |                  2 | On Loan: No      |
| US RENAL CARE INC                                                          | US RENAL CARE INC SR SECURED 144A 06/28 10.625             | CUSIP: 90355YAA5<br>LEI: 54930058SS5MF69JGN89 | Long             | DBT              | CORP              | US        |   1001000 | PA      | $875875.00    | 0.11%             | 2028-06-28      | Fixed         | 10.62%                | No            |                  2 | On Loan: No      |
| N/A                                                                        | ESKOM GG LOAN SNR EM SP DUB                                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCR              |  | US        |         1 | NC      | $198731.26    | 0.02%             |  |  |  | No            |                  3 | On Loan: No      |
| ALAMO RE LTD                                                               | ALAMO RE LTD UNSECURED 144A 06/26 VAR                      | CUSIP: 011395AQ3<br>LEI: 5493003E22VRD25G0S03 | Long             | DBT              | CORP              | BM        |    300000 | PA      | $315750.00    | 0.04%             | 2026-06-08      | Floating      | 15.84%                | No            |                  2 | On Loan: No      |
| N/A                                                                        | REV REPO STANDARD CHARTERED BA ZCP                         | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | LU        |  -2028957 | PA      | $-2397085.22  | -0.29%            |  |  |  | No            |                  2 | On Loan: No      |
| TOPAZ SOLAR FARMS LLC                                                      | TOPAZ SOLAR FARMS LLC SR SECURED 144A 09/39 5.75           | CUSIP: 89054XAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4888049 | PA      | $4958705.75   | 0.60%             | 2039-09-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | RFRF USD SF+26.161/1.70 8/01/23-29Y* CME                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $94400299.00  | 11.34%            |  |  |  | No            |                  2 | On Loan: No      |
| CAPE LOOKOUT RE LTD                                                        | CAPE LOOKOUT RE LTD UNSECURED 144A 04/27 VAR               | CUSIP: 13947LAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    900000 | PA      | $940500.00    | 0.11%             | 2027-04-05      | Floating      | 12.64%                | No            |                  2 | On Loan: No      |
| ALTICE FRANCE                                                              | ALTICE FRANCE SA 2023 USD TERM LOAN B14                    | CUSIP: F6628DAN4<br>LEI: 5493001ZMCICV4N02J21 | Long             | LON              | CORP              | FR        |   3068687 | PA      | $2976626.26   | 0.36%             | 2028-08-15      | Floating      | 9.49%                 | No            |                  3 | On Loan: No      |
| MERCURY AGGREGATOR LP                                                      | MERCURY AGGREGATOR L P TRANCHE 1 TERM LOAN                 | CUSIP: BA000FDV1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1659544 | PA      | $488067.40    | 0.06%             | 2026-04-03      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| N/A                                                                        | IRS EUR 0.50000 06/17/20-30Y LCH                           | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | N/A       |         1 | NC      | $-3941446.56  | -0.47%            |  |  |  | No            |                  2 | On Loan: No      |
| BCAP LLC TRUST 2009-RR4                                                    | BCAP LLC TRUST BCAP 2009 RR4 5A2 144A                      | CUSIP: 05531RAM9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4162144 | PA      | $1689662.65   | 0.20%             | 2037-05-26      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | BOUGHT TRY SOLD USD 20251106                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | TR        |         1 | NC      | $6790.62      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ALTICE FRANCE                                                              | ALTICE FRANCE SA SR SECURED 144A 01/29 5.125               | CUSIP: 02156LAE1<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    600000 | PA      | $516375.00    | 0.06%             | 2029-01-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY MORTGAGE LOAN TRUST 2007-1XS                                | MORGAN STANLEY MORTGAGE LOAN T MSM 2007 1XS 1A1            | CUSIP: 61752JAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5884409 | PA      | $1930742.27   | 0.23%             | 2046-09-25      | Variable      | 6.46%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | SOLD KWD BOUGHT USD 20300812                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $2531.03      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MULTIPLAN INC (MPH ACQUISITION HOLDINGS LLC)                               | MPH ACQUISITION HOLDINGS LLC 2025 SECOND OUT TERM LOAN     | CUSIP: 55328HAQ4<br>LEI: 5493002WXOPRPTXWTU06 | Long             | LON              | CORP              | US        |   7546540 | PA      | $6955381.97   | 0.84%             | 2030-12-31      | Floating      | 9.17%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | RFR USD SOFR/3.25000 06/18/25-5Y LCH                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $-2049966.78  | -0.25%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | SOLD GBP BOUGHT USD 20251002                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | GB        |         1 | NC      | $11133.34     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | RFR GBP SONIO/2.00000 03/15/23-10Y LCH                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | GB        |         1 | NC      | $1289381.07   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | BOUGHT TRY SOLD USD 20251015                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | TR        |         1 | NC      | $1933.88      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SPRINGLEAF FINANCE (AGFC CAPITAL TRUST I)                                  | AGFC CAPITAL TRUST I COMPANY GUAR 144A 01/67 VAR           | CUSIP: 00846NAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  20410000 | PA      | $13797670.25  | 1.66%             | 2067-01-15      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE-2020-38                                                         | FANNIE MAE FNR 2020 38 QI                                  | CUSIP: 3136BADX9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1685019 | PA      | $326501.28    | 0.04%             | 2050-06-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EVERGLADES RE II LTD                                                       | EVERGLADES RE II LTD SR UNSECURED 144A 05/31 VAR           | CUSIP: 30014LAN4<br>LEI: 5493000EE11S6ONK0372 | Long             | DBT              | CORP              | BM        |    400000 | PA      | $421600.00    | 0.05%             | 2031-05-13      | Floating      | 15.46%                | No            |                  2 | On Loan: No      |
| KRONOS INTERNATIONAL INC                                                   | KRONOS INTERNATIONAL INC SR SECURED 144A 03/29 9.5         | CUSIP: ACI2MTFK3<br>LEI: 529900NTVDLUSYY9F493 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3723585.37   | 0.45%             | 2029-03-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | BOUGHT TRY SOLD USD 20251010                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | TR        |         1 | NC      | $828.19       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA (VMED O2 UK FINANCING I PLC)                                  | VMED O2 UK FINANCING I VMED O2 UK FINANCING I              | CUSIP: 92858RAD2<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |   3400000 | PA      | $3576419.20   | 0.43%             | 2032-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | REVERSE REPO NATEXIS BANQUE REVERSE REPO                   | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        |  -5558076 | PA      | $-5558791.16  | -0.67%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | SOLD GBP BOUGHT USD 20251002                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | GB        |         1 | NC      | $39697.55     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ARGENTINA GOVT                                                             | REPUBLIC OF ARGENTINA SR UNSECURED 07/41 VAR               | CUSIP: 040114HV5<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |   9486055 | PA      | $4620894.54   | 0.55%             | 2041-07-09      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| LEALAND FINANCE COMPANY BV                                                 | LEALAND FINANCE COMPANY B.V. 2020 TAKE BACK TL             | CUSIP: N5200EAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    584112 | PA      | $418615.64    | 0.05%             | 2027-12-31      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| PERU GOVT                                                                  | REPUBLIC OF PERU SR UNSECURED REGS 08/31 6.95              | CUSIP: 715638BE1<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |   2801000 | PA      | $893540.02    | 0.11%             | 2031-08-12      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE ALTERNATIVE LN TR 2005-J2                                      | COUNTRYWIDE ALTERNATIVE LOAN T CWALT 2005 J2 1A6           | CUSIP: 12667F6B6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1619056 | PA      | $97045.88     | 0.01%             | 2035-04-25      | Floating      | 0.73%                 | No            |                  2 | On Loan: No      |
| RENAISSANCE HOME EQUITY LOAN TR 2007-3                                     | RENAISSANCE HOME EQUITY LOAN T RAMC 2007 3 AF3             | CUSIP: 75971FAF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5379150 | PA      | $2118686.00   | 0.25%             | 2037-09-25      | Variable      | 7.24%                 | No            |                  2 | On Loan: No      |
| INTRALOT CAPITAL LUXEMBOURG SA                                             | INTRALOT CAPITAL LUX SR SECURED 144A 10/31 6.75            | CUSIP: ACI30N7J0<br>LEI: 549300QF747C7UWZYB38 | Long             | DBT              | CORP              | LU        |   1300000 | PA      | $1540683.79   | 0.19%             | 2031-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FORESEA HOLDING SA                                                         | DRILLCO HLDG LUX S A COMMON STOCK                          | CUSIP: 000000000<br>LEI: 254900BAD50AKYGIMV79 | Long             | EC               | CORP              | LU        |     63110 | NS      | $1367383.35   | 0.16%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                                                        | SOLD EUR BOUGHT USD 20251002                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $-4423.72     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ARGENTINA GOVT                                                             | REPUBLIC OF ARGENTINA SR UNSECURED 01/38 VAR               | CUSIP: 040114HU7<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |   1326304 | PA      | $748035.46    | 0.09%             | 2038-01-09      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| ADJUSTABLE RATE MORTAGE TRUST 2006-2                                       | ADJUSTABLE RATE MORTGAGE TRUST ARMT 2006 2 6A1             | CUSIP: 007034AQ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2899060 | PA      | $1187803.91   | 0.14%             | 2036-05-25      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| PERATON CORP                                                               | PERATON CORP TERM LOAN B                                   | CUSIP: 71360HAB3<br>LEI: 549300EQPCK07ZW63836 | Long             | LON              | CORP              | US        |   9019019 | PA      | $7629548.54   | 0.92%             | 2028-02-01      | Floating      | 8.01%                 | No            |                  2 | On Loan: No      |
| EL PASO DOWNTOWN DEVELOPMENT CORP                                          | EL PASO TX DOWNTOWN DEV CORP S ELPDEV 08/43 FIXED 7.25     | CUSIP: 283738AE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7175000 | PA      | $7939021.98   | 0.95%             | 2043-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ARGENTINA GOVT                                                             | REPUBLIC OF ARGENTINA SR UNSECURED 07/46 VAR               | CUSIP: 040114HW3<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    109766 | PA      | $57736.94     | 0.01%             | 2046-07-09      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | BOUGHT TRY SOLD USD 20251107                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | TR        |         1 | NC      | $14888.71     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | SOLD DOP BOUGHT USD 20251120                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $76.98        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BLOCK INC                                                                  | BLOCK INC SR UNSECURED 144A 08/33 6                        | CUSIP: 852234AU7<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    500000 | PA      | $512360.00    | 0.06%             | 2033-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BANCA MONTE DEI PASCHI DI SIENA SPA                                        | BANCA MONTE DEI PASCHI SIENA COMMON STOCK                  | CUSIP: ACI28SXK1<br>LEI: J4CP7MHCXR8DAQMKIL78 | Long             | EC               | CORP              | IT        |    886500 | NS      | $7847601.18   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                                        | BOUGHT EUR SOLD USD 20251002                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $-619.78      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HUDSON PACIFIC PROPERTIES LP                                               | HUDSON PACIFIC PROPERTIE COMPANY GUAR 02/28 5.95           | CUSIP: 44409MAD8<br>LEI: 5493007NTUGLGZ8T3526 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98688.74     | 0.01%             | 2028-02-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| VIRIDIEN                                                                   | VIRIDIEN SR SECURED 144A 10/30 8.5                         | CUSIP: ACI2VMJW8<br>LEI: 969500FCVQ5SLAAUJV59 | Long             | DBT              | CORP              | FR        |   2400000 | PA      | $2927081.17   | 0.35%             | 2030-10-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | BOUGHT TRY SOLD USD 20251007                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | TR        |         1 | NC      | $14566.09     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| COUNTRYWIDE HOME LOANS 2007-HY4                                            | COUNTRYWIDE HOME LOANS CWHL 2007 HY4 1A1                   | CUSIP: 17025RAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     13162 | PA      | $11819.80     | 0.00%             | 2047-09-25      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE                                                              | ALTICE FRANCE SA SR SECURED 144A 01/28 5.5                 | CUSIP: 02156LAC5<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   2900000 | PA      | $2566500.00   | 0.31%             | 2028-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYSTEMS INC                                           | CHS/COMMUNITY HEALTH SYS CHS/COMMUNITY HEALTH SYS          | CUSIP: 12543DBN9<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1378451.10   | 0.17%             | 2032-01-15      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT                                                         | TREASURY BILL 10/25 0.00000                                | CUSIP: 912797RD1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      6000 | PA      | $5986.54      | 0.00%             | 2025-10-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | REVERSE REPO CREDIT AGRICOLE 03/14 VAR                     | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        |  -1561090 | PA      | $-1566487.78  | -0.19%            |  |  |  | No            |                  2 | On Loan: No      |
| BEIGNET INVESTOR LLC                                                       | PROJECT BEIGNET SR SEC 144A PROJECT BEIGNET SR SEC 144A    | CUSIP: 990AAXQG4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  16570000 | PA      | $16570000.00  | 1.99%             | 2049-06-01      | Fixed         | 6.85%                 | No            |                  3 | On Loan: No      |
| N/A                                                                        | RFR USD SOFR/2.75000 06/21/23-30Y LCH                      | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $2011756.51   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| GREEK GOVT                                                                 | HELLENIC REPUBLIC BONDS REGS 01/33 3.9                     | CUSIP: ACI0Z3H77<br>LEI: 2138003EKTMKZ5598902 | Long             | DBT              | NUSS              | GR        |    122226 | PA      | $150990.19    | 0.02%             | 2033-01-30      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUEMINES LNG LLC                                         | VENTURE GLOBAL PLAQUE SR SECURED 144A 01/36 6.75           | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    800000 | PA      | $850241.60    | 0.10%             | 2036-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AMSURG (AMBULATORY TOPCO LLC)                                              | AMSURG EQUITY EQTYAS910                                    | CUSIP: 902RDL901<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    603876 | NS      | $27262988.68  | 3.27%             |  |  |  | Yes           |                  3 | On Loan: No      |
| EDISON INTERNATIONAL                                                       | EDISON INTERNATIONAL SR UNSECURED 03/30 6.25               | CUSIP: 281020BC0<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    200000 | PA      | $208066.73    | 0.02%             | 2030-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| WESTMORELAND MINING HOLDINGS LLC                                           | WESTMORELAND MINING HOLDINGS L COMMON                      | CUSIP: 935ZXN908<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     87552 | NS      | $32832.06     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| NEWFOLD DIGITAL HOLDINGS GROUP INC                                         | NEWFOLD DIGITAL HLDGS GR SR SECURED 144A 10/28 11.75       | CUSIP: 650929AA0<br>LEI: 549300UTQC2651SB0W88 | Long             | DBT              | CORP              | US        |    500000 | PA      | $355000.00    | 0.04%             | 2028-10-15      | Fixed         | 11.75%                | No            |                  3 | On Loan: No      |
| DISH DBS CORPORATION                                                       | DISH DBS CORP SR SECURED 144A 12/26 5.25                   | CUSIP: 25470XBE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6650000 | PA      | $6539838.10   | 0.79%             | 2026-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE ALT LOAN TRUST 2006-36T2                                       | COUNTRYWIDE ALTERNATIVE LOAN T CWALT 2006 36T2 1A7         | CUSIP: 02146XAF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2122353 | PA      | $858488.56    | 0.10%             | 2036-12-25      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| CREDICORP CAPITAL SOCIEDAD TITULIZADORA SA                                 | CREDICORP CAPITAL SOCIED LOCAL GOVT G 144A 03/45 9.7       | CUSIP: 224939AB4<br>LEI: N/A                  | Long             | DBT              | CORP              | PE        |   1000000 | PA      | $305295.14    | 0.04%             | 2045-03-05      | Fixed         | 9.70%                 | No            |                  2 | On Loan: No      |
| LEALAND FINANCE COMPANY BV                                                 | LEALAND FINANCE COMPANY B.V. 2020 MAKE WHOLE TL            | CUSIP: N5200EAC5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    105274 | PA      | $85623.13     | 0.01%             | 2027-06-30      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP INC                                                            | UNITI GROUP INC COMMON STOCK USD.0001                      | CUSIP: 912932100<br>LEI: 549300V3NU625PJUVA84 | Long             | EC               | CORP              | US        |    116865 | NS      | $715213.80    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| INCORA TOP HOLDCO LLC                                                      | INCORA NEW EQUITY                                          | CUSIP: 955PRF008<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    314058 | NS      | $12606023.68  | 1.51%             |  |  |  | Yes           |                  3 | On Loan: No      |
| VALARIS LIMITED                                                            | VALARIS LTD SECURED 144A 04/30 8.375                       | CUSIP: 91889FAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |  11311000 | PA      | $11747030.79  | 1.41%             | 2030-04-30      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES TRUST 2021-1440             | JP MORGAN CHASE COMMERCIAL MOR JPMCC 2021 1440 B 144A      | CUSIP: 46653DAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1750000 | PA      | $1274002.28   | 0.15%             | 2036-03-15      | Floating      | 6.02%                 | No            |                  2 | On Loan: No      |
| BANC OF AMERICA ALT LOAN TRUST 2007-2                                      | BANC OF AMERICA ALTERNATIVE LO BOAA 2007 2 3A2             | CUSIP: 059475AS2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1495773 | PA      | $1086298.68   | 0.13%             | 2037-06-25      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVT                                                               | UKRAINE GOVERNMENT SR UNSECURED 144A 02/34 VAR             | CUSIP: 903724CA8<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    182874 | PA      | $102683.75    | 0.01%             | 2034-02-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| HARBORVIEW MORTGAGE LOAN TR 2006-6                                         | HARBORVIEW MORTGAGE LOAN TRUST HVMLT 2006 6 4A1A           | CUSIP: 41161UAG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     77577 | PA      | $66198.63     | 0.01%             | 2036-08-19      | Floating      | 4.01%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | IRS EUR 0.25000 09/21/22-10Y LCH                           | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | N/A       |         1 | NC      | $546302.75    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | IRS EUR 0.83000 12/09/42-10Y LCH                           | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | N/A       |         1 | NC      | $3431874.16   | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| CS FIRST BOSTON MTGE SEC CORP 2005-12                                      | CREDIT SUISSE FIRST BOSTON MOR CSFB 2005 12 6A1            | CUSIP: 225470RY1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1261825 | PA      | $724987.96    | 0.09%             | 2036-01-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | RFRF USD SF+26.161/3.00 06/19/19-10Y LCH                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $-40428.23    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CIFC FUNDING LTD 2014-2RA                                                  | CIFC FUNDING LTD CIFC 2014 2RA INC 144A                    | CUSIP: 125475AA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $665426.48    | 0.08%             | 2030-04-24      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| WESTMORELAND MINING HOLDINGS LLC                                           | WESTMORELAND COAL CO PIK TERM LOAN                         | CUSIP: 96106JAE9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2650343 | PA      | $1073389.08   | 0.13%             | 2029-03-15      | Fixed         | 8.00%                 | No            |                  3 | On Loan: No      |
| GHANA GOVT                                                                 | REPUBLIC OF GHANA SR UNSECURED 144A 07/26 0.0000           | CUSIP: 374422AL7<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |     22400 | PA      | $21672.31     | 0.00%             | 2026-07-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MERRILL LYNCH MORTGAGE INVESTORS INC 2006-FM1                              | MERRILL LYNCH MORTGAGE INVESTO MLMI 2006 FM1 A2C           | CUSIP: 59021AAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    524166 | PA      | $246528.04    | 0.03%             | 2037-04-25      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| MARINE ONE HOLDCO LLC                                                      | WEST MARINE NEW COMMON STOCK EQTYWM9A9                     | CUSIP: 902LVFII8<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3250 | NS      | $20532.75     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| N/A                                                                        | REVERSE REPO CREDIT AGRICOLE 03/14 VAR                     | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        |  -1874567 | PA      | $-1878191.16  | -0.23%            |  |  |  | No            |                  2 | On Loan: No      |
| UNICORN BAY (HONG KONG) INVESTMENTS LIMITED                                | UNICORN BAY HKD FIXED TERM LOAN A                          | CUSIP: BA00077Z7<br>LEI: N/A                  | Long             | LON              | CORP              | HK        |  40393981 | PA      | $5255611.44   | 0.63%             | 2026-12-31      | Fixed         | 13.00%                | No            |                  3 | On Loan: No      |
| N/A                                                                        | RFRF USD SF+26.161/0.7* 9/16/23-8Y* CME                    | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $1110249.24   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| AVENIR ISSUER IV (IRELAND) DESIGNATED ACTIVITY COMPANY                     | AVENIR ISSUER IV IRLND SR SECURED REGS 10/27 6             | CUSIP: ACI2S8C83<br>LEI: 894500E9CKDEAOMG0B46 | Long             | DBT              | NUSS              | IE        |   1018384 | PA      | $982843.24    | 0.12%             | 2027-10-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | REVERSE REPO BARCLAYS                                      | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | GB        |   -420208 | PA      | $-566007.56   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                                               | ECOPETROL SA SR UNSECURED 11/31 4.625                      | CUSIP: 279158AP4<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |   5500000 | PA      | $4936533.31   | 0.59%             | 2031-11-02      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO LTD                                                        | NISSAN MOTOR CO SR UNSECURED 144A 07/30 7.5                | CUSIP: 654922AB9<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |    500000 | PA      | $525113.50    | 0.06%             | 2030-07-17      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FLORA FOOD MANAGEMENT BV                                                   | FLORA FOOD MANAGEMENT BV SR SECURED 144A 07/29 6.875       | CUSIP: ACI2PNX49<br>LEI: 2549002VGA888UKFKS25 | Long             | DBT              | CORP              | NL        |   1000000 | PA      | $1176004.92   | 0.14%             | 2029-07-02      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BANC OF AMERICA FUNDING CORP 2007-5                                        | BANC OF AMERICA FUNDING CORPOR BAFC 2007 5 2A3             | CUSIP: 059523AG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    255084 | PA      | $216894.37    | 0.03%             | 2037-07-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SHERWOOD FUNDING CDO LTD 2004-1A                                           | SHERWOOD FUNDING CDO LTD SHERW 2004 1A A1 144A             | CUSIP: 82437RAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  31208115 | PA      | $5923737.23   | 0.71%             | 2039-11-06      | Floating      | 7.86%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | SOLD HKD BOUGHT USD 20251017                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | HK        |         1 | NC      | $2154.82      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | SOLD PEN BOUGHT USD 20251114                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | PE        |         1 | NC      | $-41491.95    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | RFRF USD SF+26.161/3.00 9/19/23-6Y* CME                    | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $-1150599.78  | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | SOLD DOP BOUGHT USD 20251124                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $-50420.65    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| FREDDIE MAC STACR REMIC TRUST 2021-DNA7                                    | FREDDIE MAC   STACR STACR 2021 DNA7 B2 144A                | CUSIP: 35564KNE5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   6500000 | PA      | $6893075.80   | 0.83%             | 2041-11-25      | Floating      | 12.16%                | No            |                  2 | On Loan: No      |
| N/A                                                                        | SOLD GBP BOUGHT USD 20251002                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | GB        |         1 | NC      | $7782.43      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | REVERSE REPO STANDARD CHARTERE VAR 1                       | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        |  -7323512 | PA      | $-7334741.38  | -0.88%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | RFRF USD SF+26.161/1.8* 8/07/23-27Y* CME                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $16043690.23  | 1.93%             |  |  |  | No            |                  2 | On Loan: No      |
| EL SALVADOR GOVT                                                           | REPUBLIC OF EL SALVADOR SR UNSECURED REGS 02/29 8.625      | CUSIP: P01012BX3<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |    800000 | PA      | $857152.00    | 0.10%             | 2029-02-28      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| COGENT COMMUNICATIONS GROUP LLC / COGENT FINANCE INC                       | COGENT COMMS GRP / FIN SR SECURED 144A 07/32 6.5           | CUSIP: 19240WAB5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6300000 | PA      | $6128233.65   | 0.74%             | 2032-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | RFR GBP SONIO/3.75000 09/17/25-5Y LCH                      | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | GB        |         1 | NC      | $-201082.78   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| FORESEA HOLDING SA                                                         | FORESEA HOLDING SA SR SECURED REGS 06/30 7.5               | CUSIP: L26915AA3<br>LEI: 254900BAD50AKYGIMV79 | Long             | DBT              | CORP              | LU        |   1756154 | PA      | $1720243.46   | 0.21%             | 2030-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVT                                                               | ROMANIA SR UNSECURED 144A 09/34 6.25                       | CUSIP: ACI2TMX47<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    400000 | PA      | $484648.11    | 0.06%             | 2034-09-10      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES TRUST 2018-MINN           | JP MORGAN CHASE COMMERCIAL MOR JPMCC 2018 MINN B 144A      | CUSIP: 46650GAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1300000 | PA      | $1123400.46   | 0.13%             | 2035-11-15      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| COLOMBIAN GOVT                                                             | REPUBLIC OF COLOMBIA SR UNSECURED 09/28 3.75               | CUSIP: ACI309MY1<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    400000 | PA      | $469160.04    | 0.06%             | 2028-09-19      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2012-134                          | GOVERNMENT NATIONAL MORTGAGE A GNR 2012 134 KI             | CUSIP: 38378GBX5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     96427 | PA      | $11656.68     | 0.00%             | 2042-09-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE                                                              | ALTICE FRANCE SA SR SECURED REGS 01/28 3.375               | CUSIP: ACI1FL2Y4<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   2000000 | PA      | $2025237.39   | 0.24%             | 2028-01-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC GOVT                                                    | DOMINICAN REPUBLIC SR UNSECURED REGS 06/36 10.75           | CUSIP: P3579ECV7<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |  25900000 | PA      | $451268.31    | 0.05%             | 2036-06-01      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| N/A                                                                        | REVERSE REPO CREDIT AGRICOLE 03/14 VAR                     | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        |  -1228610 | PA      | $-1236425.37  | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT                                                         | TREASURY BILL 01/26 0.00000                                | CUSIP: 912797SG3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     24000 | PA      | $23717.69     | 0.00%             | 2026-01-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUEMINES LNG LLC                                         | VENTURE GLOBAL PLAQUE SR SECURED 144A 01/34 6.5            | CUSIP: 922966AC0<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    800000 | PA      | $842625.92    | 0.10%             | 2034-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GS INVESTMENTS LIMITED                                                     | GENERAL SHOPPING INVEST COMPANY GUAR REGS 12/49 VAR        | CUSIP: G3812TAA9<br>LEI: 2221002OQ5WL5CL13X65 | Long             | DBT              | CORP              | KY        |   1500000 | PA      | $96750.00     | 0.01%             | 2026-03-20      | Floating      | 11.81%                | No            |                  2 | On Loan: No      |
| CITIGROUP MTGE LOAN TR INC 2007-AR8                                        | CITIGROUP MORTGAGE LOAN TRUST CMLTI 2007 AR8 2A1A          | CUSIP: 17313FAR3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     48419 | PA      | $43217.93     | 0.01%             | 2037-07-25      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| THAMES WATER SUPER SENIOR ISSUER PLC                                       | THAMES WATER SUPER SEN SR SECURED 144A 10/27 9.75          | CUSIP: ACI2YYK31<br>LEI: 635400LBEYCV7F4FC741 | Long             | DBT              | CORP              | GB        |      1162 | PA      | $1733.49      | 0.00%             | 2027-10-10      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| HARBORVIEW MORTGAGE LOAN TR 2006-6                                         | HARBORVIEW MORTGAGE LOAN TRUST HVMLT 2006 6 5A1A           | CUSIP: 41161UAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1341 | PA      | $1280.53      | 0.00%             | 2036-08-19      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| X CORPORATION                                                              | X CORP 2025 FIXED TERM LOAN                                | CUSIP: 90184NAK4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1750000 | PA      | $1757901.25   | 0.21%             | 2029-10-26      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| SW (FINANCE) I PLC                                                         | SW (FINANCE) I PLC SR SECURED REGS 05/28 2.375             | CUSIP: ACI1ML5J6<br>LEI: 549300BHN1HB5BNG2R96 | Long             | DBT              | CORP              | GB        |   3500000 | PA      | $4313906.45   | 0.52%             | 2028-05-28      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| MARLETTE FUNDING TRUST 2018-4A                                             | MARLETTE FUNDING TRUST MFT 2018 4A CERT 144A               | CUSIP: 57109G104<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     24359 | PA      | $0.00         | 0.00%             | 2028-12-15      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| N/A                                                                        | RFR USD SOFR/1.75000 06/15/22-10Y LCH                      | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $6600311.94   | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| BKV UPSTREAM MIDSTREAM LLC                                                 | BKV UPSTREAM MIDSTREAM L COMPANY GUAR 144A 10/30 7.5       | CUSIP: 05619CAA3<br>LEI: 254900LG75NBYHBBAU18 | Long             | DBT              | CORP              | US        |    400000 | PA      | $400016.33    | 0.05%             | 2030-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE                                                              | ALTICE FRANCE SA SR SECURED 144A 07/29 5.125               | CUSIP: 02156LAF8<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   3665000 | PA      | $3148418.25   | 0.38%             | 2029-07-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CHASE MORGAGE FINANCE CORP 2005-A1                                         | CHASE MORTGAGE FINANCE CORPORA CHASE 2005 A1 2A2           | CUSIP: 16162WPE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5815 | PA      | $5529.26      | 0.00%             | 2035-12-25      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| MARLETTE FUNDING TRUST 2019-1A                                             | MARLETTE FUNDING TRUST MFT 2019 1A CERT 144A               | CUSIP: 57109X107<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6700 | PA      | $0.00         | 0.00%             | 2029-04-16      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| OI SA (AKA: BRASIL TELECOM S/A)                                            | OI S.A. SR SECURED 144A 12/28 8.5                          | CUSIP: 67117EAG3<br>LEI: 254900YEMWCRRAGD4978 | Long             | DBT              | CORP              | BR        |  29862537 | PA      | $895876.11    | 0.11%             | 2028-12-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| COMPEER FINANCIAL ACA                                                      | COMPEER FINANCIAL ACA JR SUBORDINA 144A VAR                | CUSIP: 20453QAA0<br>LEI: 54930020HTACTODKHT04 | Long             | EP               | CORP              | US        |   2100000 | NS      | $2053810.29   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| INTRALOT CAPITAL LUXEMBOURG SA                                             | INTRALOT CAPITAL LUX SR SECURED 144A 10/31 VAR             | CUSIP: ACI30MW05<br>LEI: 549300QF747C7UWZYB38 | Long             | DBT              | CORP              | LU        |   1800000 | PA      | $2119203.57   | 0.25%             | 2031-10-15      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| EL SALVADOR GOVT                                                           | REPUBLIC OF EL SALVADOR REPUBLIC OF EL SALVADOR            | CUSIP: P01012CF1<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |    700000 | PA      | $765625.00    | 0.09%             | 2030-04-17      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| WSTN TRUST 2023-MAUI                                                       | WSTN TRUST WSTN 2023 MAUI C 144A                           | CUSIP: 92943AAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1600000 | PA      | $1627917.44   | 0.20%             | 2037-07-05      | Variable      | 7.96%                 | No            |                  2 | On Loan: No      |
| SG COMMERCIAL MORTGAGE SECURITIES TRUST 2020-COVE                          | SG COMMERCIAL MORTGAGE SECURIT SGCMS 2020 COVE B 144A      | CUSIP: 78397FAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1400000 | PA      | $1309632.52   | 0.16%             | 2037-03-15      | Fixed         | 2.94%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | BOUGHT TRY SOLD USD 20251027                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | TR        |         1 | NC      | $840.36       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BENCHMARK MORTGAGE TRUST 2019-B12                                          | BENCHMARK MORTGAGE TRUST BMARK 2019 B12 TCB 144A           | CUSIP: 08162FAZ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1481834.40   | 0.18%             | 2052-08-15      | Variable      | 3.55%                 | No            |                  2 | On Loan: No      |
| CITIGROUP MORTGAGE LOAN TRUST 2009-9                                       | CITIGROUP MORTGAGE LOAN TRUST CMLTI 2009 9 3A2 144A        | CUSIP: 17315XAH4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2117105 | PA      | $1066062.73   | 0.13%             | 2036-09-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                                                   | SERVICE PROPERTIES TRUST SR SECURED 144A 09/27 0.00000     | CUSIP: 81761LAF9<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    600000 | PA      | $529668.17    | 0.06%             | 2027-09-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT COMPANY LLC                                              | FORD MOTOR CREDIT CO LLC SR UNSECURED 03/28 5.918          | CUSIP: 345397G72<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    300000 | PA      | $305196.97    | 0.04%             | 2028-03-20      | Fixed         | 5.92%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES INC                                                        | VICI PROPERTIES INC REIT USD.01                            | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |     95221 | NS      | $3105156.81   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIGHTHOUSE HOLDINGS LLC                                                   | BRIGHTHOUSE HLDGS LLC JR SUBORDINA 144A VAR                | CUSIP: 10924BAA5<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     70000 | NS      | $62125.00     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                                     | VENTURE GLOBAL LNG INC SR SECURED 144A 02/32 9.875         | CUSIP: 92332YAD3<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   2280000 | PA      | $2483713.90   | 0.30%             | 2032-02-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | SOLD TRY BOUGHT USD 20251015                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | TR        |         1 | NC      | $-375.71      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | SOLD EUR BOUGHT USD 20251104                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $205930.91    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| CSMC TRUST 2017                                                            | CREDIT SUISSE MORTGAGE TRUST CSMC 2017 CALI A 144A         | CUSIP: 12652FAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1200000 | PA      | $960600.00    | 0.12%             | 2032-11-10      | Fixed         | 3.43%                 | No            |                  2 | On Loan: No      |
| US RENAL CARE INC                                                          | U S RENAL CARE INC 2023 SUPERPRIORITY TERM LOAN            | CUSIP: 90290PAS3<br>LEI: 54930058SS5MF69JGN89 | Long             | LON              | CORP              | US        |  21061542 | PA      | $20163161.66  | 2.42%             | 2028-06-28      | Floating      | 9.28%                 | No            |                  2 | On Loan: No      |
| BANC OF AMERICA FUNDING CORP 2009-R5                                       | BANC OF AMERICA FUNDING CORPOR BAFC 2009 R5 4A2 144A       | CUSIP: 05952BAL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3494479 | PA      | $1274834.33   | 0.15%             | 2036-10-26      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| TORREY PINES RE LTD                                                        | TORREY PINES RE LTD UNSECURED 144A 06/32 VAR               | CUSIP: 89141WAJ1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $260312.50    | 0.03%             | 2032-06-07      | Floating      | 11.07%                | No            |                  2 | On Loan: No      |
| SYNIVERSE HOLDINGS LLC                                                     | SYNIVERSE HOLDINGS, LLC 2022 TERM LOAN                     | CUSIP: 87168TAB7<br>LEI: 549300CYZBHMZC8VLL59 | Long             | LON              | CORP              | US        |  19242673 | PA      | $18829244.05  | 2.26%             | 2027-05-13      | Floating      | 11.00%                | No            |                  2 | On Loan: No      |
| EGYPTIAN GOVT                                                              | ARAB REPUBLIC OF EGYPT SR UNSECURED REGS 04/31 6.375       | CUSIP: ACI1B3V91<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    300000 | PA      | $338330.88    | 0.04%             | 2031-04-11      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYSTEMS INC                                           | CHS/COMMUNITY HEALTH SYS SR SECURED 144A 01/34 9.75        | CUSIP: 12543DBQ2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   2600000 | PA      | $2666950.00   | 0.32%             | 2034-01-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| NOBLE FINANCE II LLC                                                       | NOBLE FINANCE II LLC COMPANY GUAR 144A 04/30 8             | CUSIP: 65505PAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  11725000 | PA      | $12144801.90  | 1.46%             | 2030-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| JP MORGAN ALTERNATIVE LN TRUST 2007-A1                                     | J.P. MORGAN ALTERNATIVE LOAN T JPALT 2007 A1 3A1           | CUSIP: 466287AR0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2486303 | PA      | $2165535.44   | 0.26%             | 2037-03-25      | Floating      | 4.16%                 | No            |                  2 | On Loan: No      |
| ASTON MARTIN CAPITAL HOLDINGS LIMITED                                      | ASTON MARTIN CAPITAL HOL ASTON MARTIN CAPITAL HOL          | CUSIP: 04625HAJ8<br>LEI: 213800H4GKEF3CJ8C774 | Long             | DBT              | CORP              | JE        |   1500000 | PA      | $1469993.70   | 0.18%             | 2029-03-31      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| SYNIVERSE CORPORATION                                                      | SYNIVERSE PFD PIK PFDJJZ917                                | CUSIP: 936UVD902<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   3159405 | NS      | $3080375.58   | 0.37%             |  |  |  | Yes           |                  3 | On Loan: No      |
| YAHOO (AKA: AP CORE HOLDINGS II LLC)                                       | AP CORE HOLDINGS II LLC HIGH YIELD TERM LOAN B2            | CUSIP: 00187GAD1<br>LEI: 549300PND8ZZ4RWYRZ56 | Long             | LON              | CORP              | US        |   7150000 | PA      | $6972000.75   | 0.84%             | 2027-09-01      | Floating      | 9.78%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | RFR USD SOFR/1.25000 06/15/22-10Y LCH                      | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $12379188.55  | 1.49%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | BOUGHT EUR SOLD USD 20251002                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $-204938.04   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| GLACIER FUNDING CDO III LTD 2005-3A                                        | GLACIER FUNDING CDO GLCR 2005 3A A1 144A                   | CUSIP: 37638XAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6310380 | PA      | $505114.37    | 0.06%             | 2035-08-04      | Floating      | 7.77%                 | No            |                  2 | On Loan: No      |
| COLOMBIAN GOVT                                                             | REPUBLIC OF COLOMBIA SR UNSECURED 02/36 5.625              | CUSIP: ACI309M21<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    400000 | PA      | $454681.64    | 0.05%             | 2036-02-19      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| COLOMBIAN GOVT                                                             | REPUBLIC OF COLOMBIA SR UNSECURED 09/32 5                  | CUSIP: ACI309N04<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    400000 | PA      | $464463.83    | 0.06%             | 2032-09-19      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CORK STREET CLO DESIGNATED ACTIVITY CO 1A                                  | CORK STREET CLO DESIGNATED ACT CRKST 1A SUB 144A           | CUSIP: ACI0QPJC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | IE        |    700297 | PA      | $96442.25     | 0.01%             | 2028-11-27      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | NEW WINDSTREAM WARRANTS                                    | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | US        |    125540 | NC      | $704555.71    | 0.08%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                                                        | SOLD DOP BOUGHT USD 20260305                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $-473.86      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ROMANIA GOVT                                                               | ROMANIA SR UNSECURED 144A 07/32 5.875                      | CUSIP: ACI2W0QH0<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |   2600000 | PA      | $3127837.68   | 0.38%             | 2032-07-11      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| STRUCTURED ADJUSTABLE RT MTGE LN 2005-23                                   | STRUCTURED ADJUSTABLE RATE MOR SARM 2005 23 3A1            | CUSIP: 863579L48<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     84909 | PA      | $45855.31     | 0.01%             | 2036-01-25      | Floating      | 4.32%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVT                                                               | UKRAINE GOVERNMENT SR UNSECURED 144A 02/30 VAR             | CUSIP: 903724CD2<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     39957 | PA      | $21077.32     | 0.00%             | 2030-02-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | RFR USD SOFR/3.25000 06/21/23-5Y LCH                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $-133730.74   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| NGD HOLDINGS BV                                                            | NGD HOLDINGS BV SR SECURED 12/26 6.75                      | CUSIP: ACI1XVPP6<br>LEI: 984500ED2ABF0UF46690 | Long             | DBT              | CORP              | NL        |    646993 | PA      | $588763.63    | 0.07%             | 2026-12-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PROMOTORA DE INFORMACIONES SA (PRISA)                                      | PROMOTORA DE INFORMACIONES SA 2025 EUR 1ST LIEN TERM LOAN  | CUSIP: BA000KZZ7<br>LEI: 959800U3NGPXSCQHQW54 | Long             | LON              | CORP              | ES        |  15537363 | PA      | $17968026.35  | 2.16%             | 2029-12-31      | Floating      | 7.49%                 | No            |                  3 | On Loan: No      |
| EDISON INTERNATIONAL                                                       | EDISON INTERNATIONAL SR UNSECURED 11/28 5.25               | CUSIP: 281020AY3<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1310723.73   | 0.16%             | 2028-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| EL SALVADOR GOVT                                                           | REPUBLIC OF EL SALVADOR SR UNSECURED 144A 02/29 8.625      | CUSIP: 283875BW1<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |   1700000 | PA      | $1821448.00   | 0.22%             | 2029-02-28      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| BCAP LLC TRUST 2011-RR5                                                    | BCAP LLC TRUST BCAP 2011 RR5 12A2 144A                     | CUSIP: 05534AAP6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1123773 | PA      | $1861937.71   | 0.22%             | 2037-03-26      | Floating      | 4.48%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVT                                                               | UKRAINE GOVERNMENT SR UNSECURED 144A 02/36 VAR             | CUSIP: 903724CG5<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    105152 | PA      | $51156.45     | 0.01%             | 2036-02-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| IM PASTOR FTH 3                                                            | PASTOR IM FTH/FTA IMPAS 3 A REGS                           | CUSIP: B0BL9JII2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | ES        |   1683172 | PA      | $1749923.97   | 0.21%             | 2043-03-22      | Floating      | 2.17%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | BOUGHT EUR SOLD USD 20251002                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $2564.42      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PRIME HEALTHCARE SERVICES INC                                              | PRIME HEALTHCARE SERVICE SR SECURED 144A 09/29 9.375       | CUSIP: 74165HAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1873854.00   | 0.23%             | 2029-09-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | SOLD EUR BOUGHT USD 20251002                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $-765322.38   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| CREDIT SUISSE MORTGAGE CAPITAL CERTIFICATES 2017-CHOP                      | CREDIT SUISSE MORTGAGE TRUST CSMC 2017 CHOP F 144A         | CUSIP: 12651QAQ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    950000 | PA      | $945727.00    | 0.11%             | 2032-07-15      | Floating      | 8.79%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP LP / UNITI FIBER HOLDINGS INC / CSL CAPITAL LLC                | UNITI GRP/UNITI HLD/CSL COMPANY GUAR 144A 01/30 6          | CUSIP: 91327AAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9463000 | PA      | $8576891.68   | 1.03%             | 2030-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| EUROSAIL PLC 2007-3X                                                       | EUROSAIL PLC ESAIL 2007 3X D1A REGS                        | CUSIP: ACI01VU93<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | GB        |   3347180 | PA      | $3726594.96   | 0.45%             | 2045-06-13      | Floating      | 5.44%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT AVENUE SECURITIES TRUST 2021-R03                               | FANNIE MAE   CAS CAS 2021 R03 1B2 144A                     | CUSIP: 20754AAJ2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1200000 | PA      | $1243374.60   | 0.15%             | 2041-12-25      | Floating      | 9.86%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 4150                                                    | FREDDIE MAC FHR 4150 AS                                    | CUSIP: 3137AXYZ0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    383744 | PA      | $31313.02     | 0.00%             | 2042-02-15      | Floating      | 1.71%                 | No            |                  2 | On Loan: No      |
| ALLY BANK AUTO CREDIT-LINKED NOTES SERIES 2025-A                           | ALLY BANK AUTO CREDIT LINKED N ABCLN 2025 A F 144A         | CUSIP: 02007G5J8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    697024 | PA      | $701613.87    | 0.08%             | 2033-06-15      | Fixed         | 6.94%                 | No            |                  2 | On Loan: No      |
| J&J VENTURES GAMING LLC                                                    | J + J VENTURES GAMING LLC 2024 TERM LOAN                   | CUSIP: 46604BAG3<br>LEI: 549300BYPH8FLKS5ZS70 | Long             | LON              | CORP              | US        |   1257300 | PA      | $1269873.00   | 0.15%             | 2028-04-26      | Floating      | 9.28%                 | No            |                  3 | On Loan: No      |
| CARLYLE GLOBAL MARKET STRATEGIES EURO CLO 2014-3 DAC                       | CARLYLE GLOBAL MARKET STRATEGI CGMSE 2014 3A SUB 144A      | CUSIP: ACI18FBB5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | IE        |   2200000 | PA      | $719932.59    | 0.09%             | 2032-01-25      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC STACR REMIC TRUST 2021-DNA6                                    | FREDDIE MAC   STACR STACR 2021 DNA6 B2 144A                | CUSIP: 35564KLV9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   5350000 | PA      | $5619469.87   | 0.67%             | 2041-10-25      | Floating      | 11.86%                | No            |                  2 | On Loan: No      |
| COHESITY INC                                                               | CLOVER 2024 HOLDINGS INC VERITAS G 1 PREFERRED             | CUSIP: 955EKAII3<br>LEI: 254900JU2GC36CXYYG09 | Long             | EP               | CORP              | US        |      6083 | NS      | $119605.01    | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| QWEST CORPORATION                                                          | QWEST CORP SR UNSECURED 05/30 7.375                        | CUSIP: 624284BD6<br>LEI: 549300R2L4N683OO1509 | Long             | DBT              | CORP              | US        |   5130000 | PA      | $5054871.15   | 0.61%             | 2030-05-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| ARGENTINA GOVT                                                             | REPUBLIC OF ARGENTINA BONDS 07/30 VAR                      | CUSIP: ACI1QL1T4<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |   7215040 | PA      | $3708470.68   | 0.45%             | 2030-07-09      | Variable      | 0.75%                 | No            |                  2 | On Loan: No      |
| FIRST FRANKLIN MORTGAGE LOAN TRUST SERIES 2005-FFH1                        | FIRST FRANKLIN MTG LOAN ASSET FFML 2005 FFH1 M3            | CUSIP: 32027NTC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3145571 | PA      | $2980237.80   | 0.36%             | 2036-06-25      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| YINSON BORONIA PRODUCTION BV                                               | YINSON BORONIA PRODUCTIO SR SECURED 144A 07/42 8.947       | CUSIP: 98584XAA3<br>LEI: 5493007X12FTT746N678 | Long             | DBT              | CORP              | NL        |   1373526 | PA      | $1531004.35   | 0.18%             | 2042-07-31      | Fixed         | 8.95%                 | No            |                  2 | On Loan: No      |
| SW (FINANCE) I PLC                                                         | SW (FINANCE) I PLC SR SECURED REGS 03/27 1.625             | CUSIP: ACI1WPQH7<br>LEI: 549300BHN1HB5BNG2R96 | Long             | DBT              | CORP              | GB        |   2300000 | PA      | $2903709.80   | 0.35%             | 2027-03-30      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE HOME LOANS 2006-HYB5                                           | COUNTRYWIDE HOME LOANS CWHL 2006 HYB5 2A1                  | CUSIP: 170256AD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    177613 | PA      | $157524.37    | 0.02%             | 2036-09-20      | Floating      | 4.12%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | RFRF USD SF+26.161/1.00 9/16/23-7Y* CME                    | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $16026.49     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | REVERSE REPO NATEXIS BANQUE REVERSE REPO                   | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        |  -2704958 | PA      | $-2709636.82  | -0.33%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | BOUGHT TRY SOLD USD 20251208                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | TR        |         1 | NC      | $952.20       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | SOLD EUR BOUGHT USD 20251002                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $12976.33     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HA SUSTAINABLE INFRASTRUCTURE CAPITAL INC                                  | HA SUSTAINABLE INF CAP COMPANY GUAR 01/31 6.15             | CUSIP: 40408AAA9<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1027682.22   | 0.12%             | 2031-01-15      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA MTGE SECS-2006-A                                           | BANC OF AMERICA MORTGAGE SECUR BOAMS 2006 A 2A1            | CUSIP: 05949CRS7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4579 | PA      | $4259.52      | 0.00%             | 2036-02-25      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| LONG WALK REINSURANCE LTD                                                  | LONG WALK REINSURANCE UNSECURED 144A 01/31 VAR             | CUSIP: 54289CAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    800000 | PA      | $814640.00    | 0.10%             | 2031-01-30      | Floating      | 14.17%                | No            |                  2 | On Loan: No      |
| FREDDIE MAC 2820                                                           | FREDDIE MAC FHR 2820 PI                                    | CUSIP: 31395CFD8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    335762 | PA      | $30583.71     | 0.00%             | 2033-06-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| COMISION EJECUTIVA HIDROELECTRICA DEL RIO LEMPA                            | COMISION EJ HI RIO LEMPA GOVT GUARANT 144A 01/33 8.65      | CUSIP: 200444AA5<br>LEI: 254900YU43PQQ27Q0E71 | Long             | DBT              | CORP              | SV        |    250000 | PA      | $261725.00    | 0.03%             | 2033-01-24      | Fixed         | 8.65%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE ALTERNATIVE LOAN TR 2006-J8                                    | COUNTRYWIDE ALTERNATIVE LOAN T CWALT 2006 J8 A4            | CUSIP: 23245LAD2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1260641 | PA      | $478329.03    | 0.06%             | 2037-02-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AMS-OSRAM AG                                                               | AMS OSRAM AG SR UNSECURED REGS 03/29 10.5                  | CUSIP: ACI2L69P0<br>LEI: 5299001JPPT2QFTV5D76 | Long             | DBT              | CORP              | AT        |    500000 | PA      | $627719.96    | 0.08%             | 2029-03-30      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 4990                                                    | FREDDIE MAC FHR 4990 KS                                    | CUSIP: 3137FUS70<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   2835339 | PA      | $348371.86    | 0.04%             | 2050-06-25      | Floating      | 1.63%                 | No            |                  2 | On Loan: No      |
| CARLYLE GLOBAL MARKET STRATEGIES 2018-2A                                   | CARLYLE GLOBAL MARKET STRATEGI CGMS 2018 2A SUB 144A       | CUSIP: 14317QAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4200000 | PA      | $292368.47    | 0.04%             | 2031-10-15      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | REVERSE REPO WARBURG                                       | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | LU        |  -2985609 | PA      | $-3512032.58  | -0.42%            |  |  |  | No            |                  2 | On Loan: No      |
| GHANA GOVT                                                                 | REPUBLIC OF GHANA SR UNSECURED 144A 07/29 VAR              | CUSIP: 374422AM5<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |    338800 | PA      | $330690.45    | 0.04%             | 2029-07-03      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| IHEARTCOMMUNICATIONS INC                                                   | IHEARTCOMMUNICATIONS INC 2024 TERM LOAN                    | CUSIP: 45174UAJ7<br>LEI: 54930076J6KDZL504O62 | Long             | LON              | CORP              | US        |    462009 | PA      | $404835.17    | 0.05%             | 2029-05-01      | Floating      | 10.05%                | No            |                  2 | On Loan: No      |
| INCORA INTERMEDIATE II LLC                                                 | INCORA INTERMEDIATE II SR SECURED 144A 01/30 VAR           | CUSIP: 45338XAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9523316 | PA      | $9523315.99   | 1.14%             | 2030-01-31      | Fixed         | 12.39%                | No            |                  3 | On Loan: No      |
| PRP ADVISORS LLC 2025-7                                                    | PRP ADVISORS, LLC PRPM 2025 7 A1 144A                      | CUSIP: 69382YAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    996456 | PA      | $998650.69    | 0.12%             | 2030-08-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MANUCHAR GROUP BV                                                          | MANUCHAR GROUP SARL SR SECURED 144A 07/32 VAR              | CUSIP: ACI2YDMC5<br>LEI: 2549001MEFA4EOZSYR71 | Long             | DBT              | CORP              | BE        |    500000 | PA      | $580531.27    | 0.07%             | 2032-07-07      | Floating      | 7.01%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | BOUGHT CAD SOLD USD 20251104                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | CA        |         1 | NC      | $-145.55      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | IRS EUR 0.15000 06/17/20-10Y LCH                           | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | N/A       |         1 | NC      | $2944466.88   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| ALLY BANK AUTO CREDIT-LINKED NOTES SERIES 2025-A                           | ALLY BANK AUTO CREDIT LINKED N ABCLN 2025 A E 144A         | CUSIP: 02007G5H2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1579922 | PA      | $1586198.01   | 0.19%             | 2033-06-15      | Fixed         | 6.07%                 | No            |                  2 | On Loan: No      |
| ATLANTIC MARINE CORPS COMMUNITIES LLC                                      | ATLANTIC MARINE CORP COM SECURED 02/48 5.383               | CUSIP: 048677AH1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3973333 | PA      | $3332641.29   | 0.40%             | 2048-02-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| THAMES WATER SUPER SENIOR ISSUER PLC                                       | THAMES WATER SUPER SEN SR SECURED 144A 10/27 9.75          | CUSIP: ACI2ZHVB7<br>LEI: 635400LBEYCV7F4FC741 | Long             | DBT              | CORP              | GB        |      4105 | PA      | $6182.35      | 0.00%             | 2027-10-10      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| CHASE MORTGAGE FINANCE CORP 2006-S1                                        | CHASE MORTGAGE FINANCE CORPORA CHASE 2006 S1 A2            | CUSIP: 16162WQY8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       151 | PA      | $37.52        | 0.00%             | 2036-05-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WINDSTREAM PARENT INC                                                      | NEW UNITY COMMON STOCKK                                    | CUSIP: 958WDX907<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    644440 | NS      | $3622483.59   | 0.43%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                                                        | SOLD GBP BOUGHT USD 20251002                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | GB        |         1 | NC      | $33561.56     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | SOLD EUR BOUGHT USD 20251002                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $1490.87      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| OI SA (AKA: BRASIL TELECOM S/A)                                            | OI S.A. SR SECURED 144A 06/27 10                           | CUSIP: 67117EAE8<br>LEI: 254900YEMWCRRAGD4978 | Long             | DBT              | CORP              | BR        |  13933955 | PA      | $9196410.30   | 1.10%             | 2027-06-30      | Fixed         | 13.50%                | No            |                  2 | On Loan: No      |
| UKRAINE GOVT                                                               | UKRAINE GOVERNMENT SR UNSECURED 144A 02/34 VAR             | CUSIP: 903724CE0<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    149316 | PA      | $62152.79     | 0.01%             | 2034-02-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVT                                                               | UKRAINE GOVERNMENT SR UNSECURED 144A 02/36 VAR             | CUSIP: 903724CC4<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    292598 | PA      | $159465.91    | 0.02%             | 2036-02-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | RFRF USD SF+26.161/2.00 9/15/23-28Y* CME                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $-10616981.85 | -1.27%            |  |  |  | No            |                  2 | On Loan: No      |
| STRUCTURED ADJUSTABLE RT MTGE LN 2007-3                                    | STRUCTURED ADJUSTABLE RATE MOR SARM 2007 3 3A1             | CUSIP: 86363GAF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    258184 | PA      | $97286.70     | 0.01%             | 2047-04-25      | Floating      | 4.83%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                                                       | CLEVELAND CLIFFS INC SR UNSECURED 144A 01/34 7.625         | CUSIP: 18589GAA3<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    400000 | PA      | $412424.00    | 0.05%             | 2034-01-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | RFRF USD SF+26.161/1.3* 8/09/23-9Y* CME                    | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $19656972.42  | 2.36%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | RFR USD SOFR/3.75000 06/20/24-5Y CME                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $-376959.20   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | SOLD TRY BOUGHT USD 20251001                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | TR        |         1 | NC      | $-286.40      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FORESEA HOLDING SA                                                         | FORESEA HOLDING SA SR SECURED 144A 06/30 7.5               | CUSIP: 262051AA3<br>LEI: 254900BAD50AKYGIMV79 | Long             | DBT              | CORP              | LU        |   1244242 | PA      | $1218799.24   | 0.15%             | 2030-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| AMS-OSRAM AG                                                               | AMS OSRAM AG SR UNSECURED 144A 03/29 12.25                 | CUSIP: 03217CAB2<br>LEI: 5299001JPPT2QFTV5D76 | Long             | DBT              | CORP              | AT        |    700000 | PA      | $753957.40    | 0.09%             | 2029-03-30      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| ALTICE FRANCE HOLDING SA                                                   | ALTICE FRANCE HOLDING SA SR SECURED 144A 05/27 10.5        | CUSIP: 02156TAB0<br>LEI: 5299000JVHXKJPOE6H40 | Long             | DBT              | CORP              | LU        |   5300000 | PA      | $1922191.60   | 0.23%             | 2027-05-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| PROMOTORA DE INFORMACIONES SA (PRISA)                                      | PROMOTORA DE INFORMACIONES A COMMON STOCK EUR.1            | CUSIP: BXC8GV902<br>LEI: 959800U3NGPXSCQHQW54 | Long             | EC               | CORP              | ES        |    282619 | NS      | $122105.72    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| RESIDENTIAL ASSET SEC TRUST 2006-R1                                        | RESIDENTIAL ASSET SECURITIZATI RAST 2006 R1 A2             | CUSIP: 76113MAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    164577 | PA      | $44349.53     | 0.01%             | 2046-01-25      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | PARIBAS REVERSE REPO EUR ZCP                               | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | LU        |  -1049580 | PA      | $-1234055.07  | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | SOLD PEN BOUGHT USD 20260218                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | PE        |         1 | NC      | $-961.97      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UKRAINE GOVT                                                               | UKRAINE GOVERNMENT SR UNSECURED 144A 02/35 VAR             | CUSIP: 903724CF7<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    126183 | PA      | $61514.21     | 0.01%             | 2035-02-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | SOLD CAD BOUGHT USD 20251002                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | CA        |         1 | NC      | $144.59       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| EL SALVADOR GOVT                                                           | REPUBLIC OF EL SALVADOR REPUBLIC OF EL SALVADOR            | CUSIP: 283875CE0<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |   3600000 | PA      | $3937500.00   | 0.47%             | 2030-04-17      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| OI SA (AKA: BRASIL TELECOM S/A)                                            | OI S.A. COMMON STOCK                                       | CUSIP: B7XL4M900<br>LEI: 254900YEMWCRRAGD4978 | Long             | EC               | CORP              | BR        |   4697543 | NS      | $467790.46    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED STATES GOVT                                                         | TREASURY BILL 01/26 0.00000                                | CUSIP: 912797SF5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    101000 | PA      | $99885.90     | 0.01%             | 2026-01-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SLM STUDENT LOAN TRUST-2007-4                                              | SLM STUDENT LOAN TRUST SLMA 2007 4 R                       | CUSIP: 78444A107<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1595 | PA      | $298168.37    | 0.04%             | 2042-01-25      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| GREEK GOVT                                                                 | HELLENIC REPUBLIC SR UNSECURED 144A REGS 04/27 2           | CUSIP: ACI1LSSZ1<br>LEI: 2138003EKTMKZ5598902 | Long             | DBT              | NUSS              | GR        |     55000 | PA      | $64570.85     | 0.01%             | 2027-04-22      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON MUTUAL ASSET BACKED 2006-HE2                                    | WASHINGTON MUTUAL ASSET BACKED WMABS 2006 HE2 A3           | CUSIP: 93934JAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    124811 | PA      | $98072.64     | 0.01%             | 2036-05-25      | Floating      | 4.57%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2012-96                           | GOVERNMENT NATIONAL MORTGAGE A GNR 2012 96 JI              | CUSIP: 38378HFA9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     51473 | PA      | $5537.95      | 0.00%             | 2042-07-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| POLESTAR RE LTD                                                            | POLESTAR RE LTD UNSECURED 144A 01/27 VAR                   | CUSIP: 73110JAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    900000 | PA      | $937260.00    | 0.11%             | 2027-01-07      | Floating      | 17.18%                | No            |                  2 | On Loan: No      |
| FREDDIE MAC MILITARY HOUSING BONDS RESEC TRUST 2015-R1                     | FREDDIE MAC MILITARY HOUSING B FMMHR 2015 R1 D1 144A       | CUSIP: 35563CAH1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  12690480 | PA      | $8424338.85   | 1.01%             | 2055-11-25      | Floating      | 6.15%                 | No            |                  3 | On Loan: No      |
| FANNIE MAE REMICS 2020-47                                                  | FANNIE MAE FNR 2020 47 SA                                  | CUSIP: 3136BATP9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   2684623 | PA      | $336500.34    | 0.04%             | 2050-07-25      | Floating      | 1.63%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | BOUGHT TRY SOLD USD 20251020                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | TR        |         1 | NC      | $419.16       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| INTEGRITY RE III LTD                                                       | INTEGRITY RE III UNSECURED 144A 06/27 VAR                  | CUSIP: 45870GAF3<br>LEI: 254900VWHVNG2WMBWC74 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $280525.00    | 0.03%             | 2027-06-06      | Floating      | 29.46%                | No            |                  2 | On Loan: No      |
| N/A                                                                        | SOLD EUR BOUGHT USD 20251002                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $8438.30      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| POLESTAR RE LTD                                                            | POLESTAR RE LTD UNSECURED 144A 01/28 VAR                   | CUSIP: 73110JAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    300000 | PA      | $311100.00    | 0.04%             | 2028-01-07      | Floating      | 14.43%                | No            |                  2 | On Loan: No      |
| MERLIN ENTERTAINMENTS (MOTION FINCO SARL)                                  | MOTION FINCO SARL SR SECURED 144A 02/32 8.375              | CUSIP: 61980LAB5<br>LEI: 2549002L1LBQZKA7UN30 | Long             | DBT              | CORP              | LU        |    400000 | PA      | $346246.84    | 0.04%             | 2032-02-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| IHEARTMEDIA INC                                                            | IHEARTMEDIA INC   CLASS B COMMON STOCK                     | CUSIP: 45174J608<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    138545 | NS      | $349909.25    | 0.04%             |  |  |  | No            |                  3 | On Loan: No      |
| INTEGRITY RE LTD                                                           | INTEGRITY RE LTD SR UNSECURED 144A 06/26 VAR               | CUSIP: 45833UAM3<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    450000 | PA      | $502020.00    | 0.06%             | 2026-06-08      | Floating      | 26.76%                | No            |                  2 | On Loan: No      |
| TURKEY GOVT                                                                | TURKIYE GOVERNMENT BOND BONDS 09/28 VAR                    | CUSIP: ACI2R3GV0<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        | 268206000 | PA      | $6289711.23   | 0.76%             | 2028-09-06      | Fixed         | 46.96%                | No            |                  2 | On Loan: No      |
| STEENBOK LUX FINCO 2 SARL                                                  | STEENBOK LUX FINCO 2 SARL 2023 EUR PIK TL B2 RESTRUCTURE   | CUSIP: 948FWLII3<br>LEI: N/A                  | Long             | LON              | CORP              | LU        |   2337850 | PA      | $743361.82    | 0.09%             | 2026-06-30      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| EVERGLADES RE II LTD                                                       | EVERGLADES RE II LTD UNSECURED 144A 05/31 VAR              | CUSIP: 30014LAP9<br>LEI: 5493000EE11S6ONK0372 | Long             | DBT              | CORP              | BM        |    400000 | PA      | $421260.00    | 0.05%             | 2031-05-13      | Floating      | 16.71%                | No            |                  2 | On Loan: No      |
| IPL PLASTICS (TOUCAN FINCO LTD/TOUCAN FINCO CAN INC/TOUCAN FINCO US LLC)   | TOUCAN FINCO LTD/CAN/US SR SECURED 144A 05/30 8.25         | CUSIP: ACI2WX839<br>LEI: N/A                  | Long             | DBT              | CORP              | JE        |   1400000 | PA      | $1569631.77   | 0.19%             | 2030-05-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| WAYFAIR LLC                                                                | WAYFAIR LLC SR SECURED 144A 09/30 7.75                     | CUSIP: 94419NAB3<br>LEI: 549300CTUWTZGOXMYI40 | Long             | DBT              | CORP              | US        |   7700000 | PA      | $8094589.89   | 0.97%             | 2030-09-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | RFRF USD SF+26.161/1.7* 7/22/23-27Y* CME                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $21952255.27  | 2.64%             |  |  |  | No            |                  2 | On Loan: No      |
| COLONY MORTGAGE CAPITAL SERIES LTD 2019-IKPR                               | COLONY MORTGAGE CAPITAL LTD CLNY 2019 IKPR E 144A          | CUSIP: 12564NAN2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1300000 | PA      | $1206454.21   | 0.14%             | 2038-11-15      | Floating      | 7.31%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | SOLD GBP BOUGHT USD 20251104                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | GB        |         1 | NC      | $-150528.59   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| WASHINGTON MUTUAL MORTGAGE PASS-THROUGH CERTIFICATES WMALT SERIES 2007-2   | WASHINGTON MUTUAL MORTGAGE PAS WMALT 2007 2 1A10           | CUSIP: 93936HAK2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6424594 | PA      | $1275283.24   | 0.15%             | 2037-04-25      | Floating      | 2.41%                 | No            |                  2 | On Loan: No      |
| ALLY BANK AUTO CREDIT-LINKED NOTES SERIES 2025-A                           | ALLY BANK AUTO CREDIT LINKED N ABCLN 2025 A G 144A         | CUSIP: 02007G5K5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1208175 | PA      | $1220915.56   | 0.15%             | 2033-06-15      | Fixed         | 10.22%                | No            |                  2 | On Loan: No      |
| COUNTRYWIDE HOME LOANS MORTGAGE PASS-THROUGH TRUST 2006-18                 | COUNTRYWIDE HOME LOANS CWHL 2006 18 2A2                    | CUSIP: 12543WAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1599553 | PA      | $146845.68    | 0.02%             | 2036-12-25      | Floating      | 1.08%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC STRUCTURED AGENCY CREDIT RISK DEBT NOTES 2022-DNA2             | FREDDIE MAC   STACR STACR 2022 DNA2 B2 144A                | CUSIP: 35564KSQ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   2200000 | PA      | $2382486.92   | 0.29%             | 2042-02-25      | Floating      | 12.86%                | No            |                  2 | On Loan: No      |
| N/A                                                                        | BOUGHT EUR SOLD USD 20251002                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $-1012.45     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MULTIPLAN INC (MPH ACQUISITION HOLDINGS LLC)                               | MPH ACQUISITION HOLDINGS LLC 2025 EXCHNG 1ST OUT TERM LOAN | CUSIP: 55328HAP6<br>LEI: 5493002WXOPRPTXWTU06 | Long             | LON              | CORP              | US        |    765987 | PA      | $765986.82    | 0.09%             | 2030-12-31      | Floating      | 8.06%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORPORATION                                                       | DISH DBS CORP COMPANY GUAR 07/26 7.75                      | CUSIP: 25470XAY1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5500000 | PA      | $5455017.59   | 0.66%             | 2026-07-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| AMS-OSRAM AG                                                               | AMS OSRAM AG SR UNSECURED REGS 11/27 2.125                 | CUSIP: BMVM6ZII7<br>LEI: 5299001JPPT2QFTV5D76 | Long             | DBT              | CORP              | AT        |  14000000 | PA      | $15758695.02  | 1.89%             | 2027-11-03      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                                               | ECOPETROL SA SR UNSECURED 01/36 8.375                      | CUSIP: 279158AV1<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    260000 | PA      | $268686.12    | 0.03%             | 2036-01-19      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| CLOVER HOLDINGS 2 LLC                                                      | CLOVER HOLDINGS 2 LLC REVOLVER                             | CUSIP: 18914DAD0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    909055 | PA      | $906536.92    | 0.11%             | 2029-12-10      | Floating      | 0.24%                 | No            |                  2 | On Loan: No      |
| INCORA INTERMEDIATE II LLC                                                 | INCORA TOP HOLDCO LLC CONV PIK PRE COMP                    | CUSIP: 955PRK007<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6942658 | PA      | $11232285.16  | 1.35%             | 2033-01-30      | Fixed         | 6.00%                 | Yes           |                  3 | On Loan: No      |
| GHANA GOVT                                                                 | REPUBLIC OF GHANA SR UNSECURED 144A 01/30 0.0000           | CUSIP: 374422AN3<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |     66912 | PA      | $57475.21     | 0.01%             | 2030-01-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC GOVT                                                    | DOM REP CB NOTES NOTES 144A 01/26 13                       | CUSIP: 25714PEU8<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | MUN               | DO        |  16700000 | PA      | $270766.24    | 0.03%             | 2026-01-30      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT COMPANY LLC                                              | FORD MOTOR CREDIT CO LLC SR UNSECURED 03/28 VAR            | CUSIP: 345397G80<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    900000 | PA      | $900541.74    | 0.11%             | 2028-03-20      | Floating      | 6.19%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | REVERSE REPO NATEXIS BANQUE REVERSE REPO                   | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        |  -2937684 | PA      | $-2939906.85  | -0.35%            |  |  |  | No            |                  2 | On Loan: No      |
| SVB FINANCIAL TRUST                                                        | SVB FINL TR                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     19520 | NS      | $2342.40      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| COUNTRYWIDE ALTERNATIVE LOAN TR 2006-OC9                                   | COUNTRYWIDE ALTERNATIVE LOAN T CWALT 2006 OC9 A3           | CUSIP: 23245GAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1193068 | PA      | $1018128.11   | 0.12%             | 2046-12-25      | Floating      | 4.77%                 | No            |                  2 | On Loan: No      |
| LUCA RE LTD                                                                | LUCA RE LTD UNSECURED 144A 07/31 VAR                       | CUSIP: 54930CAA3<br>LEI: 2549001YET1TWKCC6Y26 | Long             | DBT              | CORP              | BM        |    350000 | PA      | $350070.00    | 0.04%             | 2031-07-22      | Floating      | 11.18%                | No            |                  2 | On Loan: No      |
| BOI FINANCE BV                                                             | BOI FINANCE BV 02/27 7.5                                   | CUSIP: ACI23L5Y2<br>LEI: 724500ZH3H2YACBUNF38 | Long             | DBT              | MUN               | NL        |   3300000 | PA      | $3987046.15   | 0.48%             | 2027-02-16      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| HF SINCLAIR CORPORATION                                                    | HF SINCLAIR CORP SR UNSECURED 01/35 6.25                   | CUSIP: 403949AS9<br>LEI: 2549009G116AM01XHN24 | Long             | DBT              | CORP              | US        |   1900000 | PA      | $1987192.05   | 0.24%             | 2035-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NEW ORLEANS HOTEL TRUST 2019-HNLA                                          | NEW ORLEANS HOTEL TRUST NOHT 2019 HNLA F 144A              | CUSIP: 647622AL3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2282352 | PA      | $2232412.77   | 0.27%             | 2032-04-15      | Floating      | 7.89%                 | No            |                  2 | On Loan: No      |
| PIMCO FUNDS                                                                | PIMCO PRV SHORT TERM FLT III MUTUAL FUND                   | CUSIP: 000000000<br>LEI: LWVQWTQCFH3YG7CVH718 | Long             | STIV             | RF                | US        |   3668844 | PA      | $35730873.13  | 4.29%             |  |  |  | No            |                  1 | On Loan: No      |
| WSTN TRUST 2023-MAUI                                                       | WSTN TRUST WSTN 2023 MAUI E 144A                           | CUSIP: 92943AAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1300000 | PA      | $1319558.50   | 0.16%             | 2037-07-05      | Variable      | 10.17%                | No            |                  2 | On Loan: No      |
| INTEGRITY RE LTD                                                           | INTEGRITY RE LTD SR UNSECURED 144A 06/26 VAR               | CUSIP: 45833UAL5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    450000 | PA      | $494122.50    | 0.06%             | 2026-06-08      | Floating      | 21.20%                | No            |                  2 | On Loan: No      |
| CITIGROUP/DEUTSCHE BK COMM MTGE 2006-CD3                                   | CD COMMERCIAL MORTGAGE TRUST CD 2006 CD3 AJ                | CUSIP: 14986DAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    102016 | PA      | $96443.68     | 0.01%             | 2048-10-15      | Fixed         | 5.69%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | PETROLEOS MEXICANOS (PEMEX) LA SP MYC                      | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCR              |  | US        |         1 | NC      | $-30739.17    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| COHESITY INC                                                               | CLOVER 2024 HOLDINGS INC VERITAS G PREFERRED               | CUSIP: 955EHZ901<br>LEI: 254900JU2GC36CXYYG09 | Long             | EP               | CORP              | US        |      8803 | NS      | $173086.13    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BANC OF AMERICA ALT LOAN TRUST 2006-5                                      | BANC OF AMERICA ALTERNATIVE LO BOAA 2006 5 CB12            | CUSIP: 05950BAM6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1927027 | PA      | $153532.38    | 0.02%             | 2046-06-25      | Floating      | 1.33%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | REVERSE REPO PARIBAS                                       | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        |  -1010392 | PA      | $-1011867.67  | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| SVB FINANCIAL TRUST                                                        | SVB FINL TR COMMON STOCK UNIT                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      4283 | NS      | $2334235.00   | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| NEW ALBERTSONS LP                                                          | NEW ALBERTSONS LP SR UNSECURED 02/28 6.57                  | CUSIP: 01310QCW3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4021000 | PA      | $4068628.75   | 0.49%             | 2028-02-23      | Fixed         | 6.57%                 | No            |                  2 | On Loan: No      |
| GHANA GOVT                                                                 | REPUBLIC OF GHANA SR UNSECURED 144A 07/35 VAR              | CUSIP: 374422AP8<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |    487200 | PA      | $411846.05    | 0.05%             | 2035-07-03      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| GS INVESTMENTS LIMITED                                                     | GENERAL SHOPPING INVEST COMPANY GUAR 144A 12/49 VAR        | CUSIP: 370837AA4<br>LEI: 2221002OQ5WL5CL13X65 | Long             | DBT              | CORP              | KY        |   1000000 | PA      | $64500.00     | 0.01%             | 2026-03-20      | Floating      | 12.00%                | No            |                  2 | On Loan: No      |
| N/A                                                                        | BOUGHT TRY SOLD USD 20251014                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | TR        |         1 | NC      | $1628.35      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | RFR GBP SONIO/0.75000 09/21/22-30Y LCH                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | GB        |         1 | NC      | $2188564.62   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | SOFTBANK GROUP CORP SNR JP SP GST                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCR              |  | US        |         1 | NC      | $1627.09      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | RFRF USD SF+26.161/0.8* 8/01/23-4Y* CME                    | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $1955124.06   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| PERU LNG SRL                                                               | PERU LNG SRL SR UNSECURED REGS 03/30 5.375                 | CUSIP: P7721BAE1<br>LEI: 254900F70J1LOALV5K70 | Long             | DBT              | CORP              | PE        |   6525870 | PA      | $6267372.46   | 0.75%             | 2030-03-22      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | REVERSE REPO BANK OF NEW YORK                              | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        |  -1047962 | PA      | $-1047962.00  | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | REVERSE REPO SOCIETE GENERALE REVERSE REPO                 | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        |  -2911900 | PA      | $-2945313.89  | -0.35%            |  |  |  | No            |                  2 | On Loan: No      |
| IHEARTMEDIA INC                                                            | IHEARTMEDIA INC   CLASS A COMMON STOCK                     | CUSIP: 45174J509<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    178528 | NS      | $512375.36    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| PERU GOVT                                                                  | REPUBLIC OF PERU SR UNSECURED 144A 08/37 6.9               | CUSIP: 715638AV4<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |   1800000 | PA      | $542444.38    | 0.07%             | 2037-08-12      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                                     | VENTURE GLOBAL LNG INC SR SECURED 144A 06/28 8.125         | CUSIP: 92332YAA9<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    900000 | PA      | $932193.00    | 0.11%             | 2028-06-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC GOVT                                                    | DOMINICAN REPUBLIC SR UNSECURED 144A 09/35 11.25           | CUSIP: 25714PEW4<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |  68200000 | PA      | $1211877.10   | 0.15%             | 2035-09-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| MNSN HOLDINGS INC                                                          | MNSN HOLDINGS INC COMMON STOCK                             | CUSIP: 55339C109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3757 | NS      | $225420.00    | 0.03%             |  |  |  | Yes           |                  1 | On Loan: No      |
| GLG EURO CLO 1A                                                            | MAN GLG EURO CLO GLGE 1A SUBR 144A                         | CUSIP: ACI11ZRZ8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | IE        |   3370720 | PA      | $3957.40      | 0.00%             | 2030-10-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| URSA RE LTD                                                                | URSA RE LTD UNSECURED 144A 12/28 VAR                       | CUSIP: 90323WAN0<br>LEI: 549300O8X4DWGDJZ6W59 | Long             | DBT              | CORP              | BM        |   1000000 | PA      | $1043950.00   | 0.13%             | 2028-12-07      | Floating      | 13.18%                | No            |                  2 | On Loan: No      |
| N/A                                                                        | BOUGHT TRY SOLD USD 20251027                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | TR        |         1 | NC      | $838.78       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HOLDINGS INC                                         | CLEAR CHANNEL OUTDOOR HOLDIN COMMON STOCK                  | CUSIP: 18453H106<br>LEI: 254900XBEE6V1ENYS150 | Long             | EC               | CORP              | US        |    754306 | NS      | $1191803.48   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| FREDDIE MAC 3003                                                           | FREDDIE MAC FHR 3006 SU                                    | CUSIP: 31395WSK4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    288833 | PA      | $22895.22     | 0.00%             | 2035-07-15      | Floating      | 1.61%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | REVERSE REPO NATEXIS BANQUE REVERSE REPO                   | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        |  -4996745 | PA      | $-5005568.40  | -0.60%            |  |  |  | No            |                  2 | On Loan: No      |
| JSC UZBEKNEFTEGAZ                                                          | UZBEKNEFTEGAZ SR UNSECURED 144A 05/30 8.75                 | CUSIP: 91825MAC7<br>LEI: 213800LUZJZFLJD4MJ51 | Long             | DBT              | CORP              | UZ        |   3600000 | PA      | $3854276.32   | 0.46%             | 2030-05-07      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | PEMEX LCDS SP DUB                                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCR              |  | US        |         1 | NC      | $3016.10      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                                                        | BOUGHT EUR SOLD USD 20251002                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $-2750.81     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RESIDENTIAL ASSET SEC TRUST 2007-A9                                        | RESIDENTIAL ASSET SECURITIZATI RAST 2007 A9 A6             | CUSIP: 761143AF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4542164 | PA      | $1686694.56   | 0.20%             | 2037-09-25      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE ASSET-BACKED CERT 2006-11                                      | COUNTRYWIDE ASSET BACKED CERTI CWL 2006 11 MV1             | CUSIP: 12666TAL0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  12427622 | PA      | $10173761.14  | 1.22%             | 2046-09-25      | Floating      | 4.68%                 | No            |                  2 | On Loan: No      |
| OCS GROUP HOLDINGS LIMITED                                                 | OCS GROUP HOLDINGS LTD GBP TERM LOAN B                     | CUSIP: BA000BQB0<br>LEI: 54930002RKY3Y4LURL90 | Long             | LON              | CORP              | GB        |   6350000 | PA      | $8543655.77   | 1.03%             | 2031-11-28      | Floating      | 9.96%                 | No            |                  2 | On Loan: No      |
| XBP GLOBAL HOLDINGS INC                                                    | XBP GLOBAL HOLDINGS INC COMMON STOCK USD.0001              | CUSIP: 98400V101<br>LEI: 984500BE0P94C4CD8C71 | Long             | EC               | CORP              | US        |      9682 | NS      | $7813.37      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                                     | VENTURE GLOBAL LNG INC SR SECURED 144A 02/29 9.5           | CUSIP: 92332YAC5<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   4709000 | PA      | $5192378.85   | 0.62%             | 2029-02-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVT                                                               | UKRAINE GOVERNMENT SR UNSECURED 144A 02/35 VAR             | CUSIP: 903724CB6<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    256023 | PA      | $141452.71    | 0.02%             | 2035-02-01      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT                                                         | TREASURY BILL 01/26 0.00000                                | CUSIP: 912797SH1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    193000 | PA      | $190583.43    | 0.02%             | 2026-01-27      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PEOPLE'S FINANCE REALTY MTGE SEC 2006-1                                    | PEOPLE S FINANCIAL REALTY MORT PFRMS 2006 1 1A3            | CUSIP: 71103XAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  19354787 | PA      | $3520000.93   | 0.42%             | 2036-09-25      | Floating      | 4.43%                 | No            |                  2 | On Loan: No      |
| JP MORGAN MORTGAGE TRUST 2008-R2                                           | JP MORGAN MORTGAGE TRUST JPMMT 2008 R2 1A2 144A            | CUSIP: 46632TAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3897519 | PA      | $3321137.35   | 0.40%             | 2037-07-27      | Floating      | 4.06%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                                                              | COREWEAVE INC COMPANY GUAR 144A 02/31 9                    | CUSIP: 21873SAC2<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |    800000 | PA      | $820903.20    | 0.10%             | 2031-02-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE 2004-35                                                         | FANNIE MAE FNR 2004 35 ST                                  | CUSIP: 31393XU96<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     83055 | PA      | $87281.11     | 0.01%             | 2034-01-25      | Floating      | 10.00%                | No            |                  2 | On Loan: No      |
| RENAISSANCE HOME EQUITY LOAN TR 2007-3                                     | RENAISSANCE HOME EQUITY LOAN T RAMC 2007 3 AF2             | CUSIP: 75971FAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6217345 | PA      | $2450030.48   | 0.29%             | 2037-09-25      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| STEENBOK LUX FINCO 2 SARL                                                  | STEENBOK LUX FINCO 2 SARL 2023 EUR PIK TL A2 RESTRUCTURE   | CUSIP: 948FWKII5<br>LEI: N/A                  | Long             | LON              | CORP              | LU        |  18334590 | PA      | $6681911.65   | 0.80%             | 2026-06-30      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2012-96                           | GOVERNMENT NATIONAL MORTGAGE A GNR 2012 96 KI              | CUSIP: 38378HFV3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     27188 | PA      | $2759.26      | 0.00%             | 2042-06-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC                                                     | ENERGIZER HOLDINGS INC COMPANY GUAR 144A 09/33 6           | CUSIP: 29272WAG4<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1762693.81   | 0.21%             | 2033-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                                               | ECOPETROL SA SR UNSECURED 02/32 7.75                       | CUSIP: 279158AW9<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |  14600000 | PA      | $15117394.80  | 1.82%             | 2032-02-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| FINASTRA USA INC                                                           | FINASTRA USA INC 2025 1ST LIEN TERM LOAN                   | CUSIP: 31772YAD8<br>LEI: 549300ZB2RO6QC7YTK71 | Long             | LON              | CORP              | US        |   4600000 | PA      | $4586039.00   | 0.55%             | 2032-07-30      | Floating      | 8.04%                 | No            |                  2 | On Loan: No      |
| LEHMAN XS TRUST 2007-7N                                                    | LEHMAN XS TRUST LXS 2007 7N 1A1A                           | CUSIP: 52524GAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    992750 | PA      | $936722.70    | 0.11%             | 2047-06-25      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| CHEPLAPHARM ARZNEIMITTEL GMBH                                              | CHEPLAPHARM ARZNEIMITTEL SR SECURED REGS 05/30 7.5         | CUSIP: ACI2FPJG4<br>LEI: 529900ONXKBELT7EW052 | Long             | DBT              | CORP              | DE        |   5600000 | PA      | $6818457.60   | 0.82%             | 2030-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | SOLD GBP BOUGHT USD 20251002                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | GB        |         1 | NC      | $7381.49      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CLOVER HOLDINGS SPV III LLC                                                | CLOVER HOLDINGS SPV III LLC 2024 USD TERM LOAN             | CUSIP: BA000CCJ6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    241872 | PA      | $249128.07    | 0.03%             | 2027-12-09      | Fixed         | 15.00%                | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FINANCE AUTHORITY                                       | TOBACCO SETTLEMENT FIN AUTH WV TOBGEN 06/47 ZEROCPNOID 0   | CUSIP: 88880LAB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  66200000 | PA      | $6186807.06   | 0.74%             | 2047-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | REVERSE REPO SOCIETE GENERALE REVERSE REPO                 | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        |  -3251946 | PA      | $-3285272.49  | -0.39%            |  |  |  | No            |                  2 | On Loan: No      |
| CDK GLOBAL (CENTRAL PARENT INC/CENTRAL MERGER SUB INC)                     | CNTRL PARENT/CDK GLB INC SR SECURED 144A 06/29 7.25        | CUSIP: 15477CAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3700000 | PA      | $3199778.50   | 0.38%             | 2029-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SPECIALTY UNDERWRITING & RESID 2005-BC3                                    | SPECIALTY UNDERWRITING + RESID SURF 2005 BC3 M4            | CUSIP: 84751PHB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8070000 | PA      | $6702557.06   | 0.80%             | 2036-06-25      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| CHORD ENERGY CORPORATION                                                   | CHORD ENERGY CORP SR UNSECURED 144A 10/30 6                | CUSIP: 674215AQ1<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |    700000 | PA      | $695563.60    | 0.08%             | 2030-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GREEK GOVT                                                                 | HELLENIC REPUBLIC BONDS REGS 01/37 4                       | CUSIP: ACI0Z3HB8<br>LEI: 2138003EKTMKZ5598902 | Long             | DBT              | NUSS              | GR        |     95790 | PA      | $117262.21    | 0.01%             | 2037-01-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MEDIAPRO (SUBCALIDORA 2 SARL)                                              | SUBCALIDORA 2 2024 EUR TERM LOAN                           | CUSIP: BA0007DG2<br>LEI: N/A                  | Long             | LON              | CORP              | ES        |   7000000 | PA      | $8259446.41   | 0.99%             | 2029-08-14      | Floating      | 7.75%                 | No            |                  3 | On Loan: No      |
| N/A                                                                        | REVERSE REPO CREDIT AGRICOLE 03/14 VAR                     | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        |  -5062303 | PA      | $-5071024.56  | -0.61%            |  |  |  | No            |                  2 | On Loan: No      |
| VIRIDIEN                                                                   | VIRIDIEN SR SECURED 144A 10/30 10                          | CUSIP: 12531QAA3<br>LEI: 969500FCVQ5SLAAUJV59 | Long             | DBT              | CORP              | FR        |   4000000 | PA      | $4114844.92   | 0.49%             | 2030-10-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| AMSURG LLC                                                                 | ENVISION HEALTHCARE CORPORTION 2023 LAST OUT TERM LOAN     | CUSIP: 949ABFII9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  11545060 | PA      | $11891412.30  | 1.43%             | 2028-09-15      | Fixed         | 12.23%                | No            |                  3 | On Loan: No      |
| VENEZUELAN GOVT                                                            | REPUBLIC OF VENEZUELA SR UNSECURED 09/27 9.25              | CUSIP: 922646AS3<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |    452000 | PA      | $110220.20    | 0.01%             | 2027-09-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| TRUMAN CAPITAL MTGE LOAN TR 2004-1                                         | TRUMAN CAPITAL MORTGAGE LOAN T TRUMN 2004 1 M3 144A        | CUSIP: 897896AT3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2652239 | PA      | $2557655.57   | 0.31%             | 2034-01-25      | Floating      | 8.40%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES TRUST 2018-MINN           | JP MORGAN CHASE COMMERCIAL MOR JPMCC 2018 MINN C 144A      | CUSIP: 46650GAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $444208.56    | 0.05%             | 2035-11-15      | Floating      | 6.15%                 | No            |                  2 | On Loan: No      |
| N/A                                                                        | BOUGHT CAD SOLD USD 20251002                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | CA        |         1 | NC      | $-3256.59     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                        | BOUGHT TRY SOLD USD 20251125                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | TR        |         1 | NC      | $6516.30      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| X CORPORATION                                                              | X CORP TERM LOAN                                           | CUSIP: 90184NAG3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  10403593 | PA      | $10220073.34  | 1.23%             | 2029-10-26      | Floating      | 10.96%                | No            |                  2 | On Loan: No      |
| N/A                                                                        | REVERSE REPO NATEXIS BANQUE REVERSE REPO                   | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        |   -198645 | PA      | $-199163.68   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| NATURE COAST RE LTD                                                        | NATURE COAST RE LTD UNSECURED 144A 04/33 VAR               | CUSIP: 63901CAE1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $261537.50    | 0.03%             | 2033-04-10      | Floating      | 13.68%                | No            |                  2 | On Loan: No      |
| CARVANA CO                                                                 | CARVANA CO SR SECURED 144A 06/31 9                         | CUSIP: 146869AM4<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |   1919714 | PA      | $2174974.53   | 0.26%             | 2031-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| ATRIUM HOTEL PORTFOLIO TRUST 2017-ATRM                                     | ATRIUM HOTEL PORTFOLIO TRUST AHPT 2017 ATRM B 144A         | CUSIP: 04965JAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5500000 | PA      | $5406500.55   | 0.65%             | 2036-12-15      | Floating      | 5.95%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-26

**Name of Applicant:** PIMCO High Income Fund

**Signature:** /s/ Bijal Parikh

**Name of Signer:** Bijal Parikh

**Title:** Treasurer