# EDGAR Filing Document

**Accession Number:** 0000810016
**File Stem:** 0001752724-23-035122
**Filing Date:** 2023-2
**Character Count:** 101596
**Document Hash:** d7a001ecc6b010c07540e44069621635
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-035122.hdr.sgml**: 20230223

**ACCESSION NUMBER**: 0001752724-23-035122

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221230

**FILED AS OF DATE**: 20230223

**DATE AS OF CHANGE**: 20230223

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ivy Variable Insurance Portfolios
- **CENTRAL INDEX KEY:** 0000810016
- **IRS NUMBER:** 481146010
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05017
- **FILM NUMBER:** 23657154

**BUSINESS ADDRESS:**
- **STREET 1:** 6300 LAMAR AVENUE
- **CITY:** OVERLAND PARK
- **STATE:** KS
- **ZIP:** 66202
- **BUSINESS PHONE:** 9132362000

**MAIL ADDRESS:**
- **STREET 1:** P O BOX 29217
- **CITY:** SHAWNEE MISSION
- **STATE:** KS
- **ZIP:** 66201-9217

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Ivy Funds Variable Insurance Portfolios
- **DATE OF NAME CHANGE:** 20100301

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Ivy Funds Variable Insurance Portfolios, Inc.
- **DATE OF NAME CHANGE:** 20080819

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** W&R TARGET FUNDS INC
- **DATE OF NAME CHANGE:** 20001026

## Series and Classes Contracts Data

### Delaware Ivy VIP High Income (Series ID: S000006242)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000017176 | Class II     |  |
| C000190649 | Class I      |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Ivy Variable Insurance Portfolios

- **b. Investment Company Act file number:** 811-05017

- **c. CIK number of Registrant:** 0000810016

- **d. LEI of Registrant:** 72XHPUAYSOH6ROSGJT53

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

  - **Street Address 1:** 100 Independence

  - **City:** Philadelphia

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19106

  - **Telephone number:** 215-255-1200

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

- **a. Name of Series:** Delaware Ivy VIP High Income

- **b. EDGAR series identifier (if any):** S000006242

- **c. LEI of Series:** HOEHMHXH7KXIOFMGI146

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

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-30

**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:** $788898120.37

**Total Liabilities:** $37498132.17

**Net Assets:** $751399988.20

**Cash Not Reported:** $182730.38

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 901.01511000 | **5-Year:** 7830.45840000 | **10-Year:** 5416.26951000 | **30-Year:** 0.43043000

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

- **3-Month:** 155.91085000 | **1-Year:** 39776.43592000 | **5-Year:** 178362.37202000 | **10-Year:** 23490.67430000 | **30-Year:** 1174.95163000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000190649 | 2.32%                | 1.20%                | 0.88%                |
| Class ID C000017176 | 2.30%                | 1.19%                | 0.86%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-4385867.94             | $16180705.49                               |
| Month 2  | $-3040160.08             | $7675632.65                                |
| Month 3  | $-6173237.58             | $7892773.42                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CUMULUS MEDIA NEW HLDGS                        | Cumulus Media New Holdings Inc                                              | CUSIP: 23110AAA4<br>LEI: 5493001D9VBAVY1OKJ46 | Long             | DBT              | CORP              | US        |   4075000 | PA      | $3429438.50   | 0.46%             | 2026-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| WHITE CAP PARENT LLC                           | White Cap Parent LLC                                                        | CUSIP: 96351CAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     36000 | PA      | $31166.64     | 0.00%             | 2026-03-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| NEW COTAI EQUITY                               | NEW COTAI EQUITY                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   3072567 | NS      | $2833677.93   | 0.38%             |  |  |  | No            |                  3 | On Loan: No      |
| DIG INTL FIN/DIG INTL HL                       | Digicel International Finance Ltd/Digicel international Holdings Ltd        | CUSIP: 25381VAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   4031000 | PA      | $3473028.98   | 0.46%             | 2024-05-25      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA RESOURCES CORP                      | CALIFORNIA RESOURCES -CW27                                                  | CUSIP: 13057Q123<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | EC               | CORP              | US        |      7744 | NS      | $97574.40     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| LITHIA MOTORS INC                              | Lithia Motors Inc                                                           | CUSIP: 536797AF0<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |   1271000 | PA      | $1036348.36   | 0.14%             | 2031-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| WESCO AIRCRAFT HOLDINGS                        | Wesco Aircraft Holdings Inc                                                 | CUSIP: 97789LAC0<br>LEI: 529900P5VTXZS191P208 | Long             | DBT              | CORP              | US        |   6782000 | PA      | $3357090.00   | 0.45%             | 2024-11-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                        | Frontier Communications Holdings LLC                                        | CUSIP: 35908MAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    805000 | PA      | $633432.60    | 0.08%             | 2030-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TRUE RELIGION COMMON                           | TRUE RELIGION COMMON                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        23 | NS      | $388988.91    | 0.05%             |  |  |  | No            |                  3 | On Loan: No      |
| VISTRA CORP                                    | Vistra Corp                                                                 | CUSIP: 92840MAB8<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |   3650000 | PA      | $3493312.07   | 0.46%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| MAYFIELD AGENCY BORROWER                       | Amynta Agency Borrower Inc                                                  | CUSIP: 57810JAC2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   8604107 | PA      | $8173901.75   | 1.09%             | 2025-02-28      | Floating      | 8.74%                 | No            |                  2 | On Loan: No      |
| ARDONAGH MIDCO 2 PLC                           | Ardonagh Midco 2 PLC                                                        | CUSIP: 03985RAA1<br>LEI: 9845003AD1386OH58D80 | Long             | DBT              | CORP              | GB        |   8039978 | PA      | $7678178.81   | 1.02%             | 2027-01-15      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| ADTALEM GLOBAL EDUCATION                       | Adtalem Global Education Inc                                                | CUSIP: 00737WAA7<br>LEI: 549300Z467EZLMODV621 | Long             | DBT              | CORP              | US        |   4951000 | PA      | $4499072.72   | 0.60%             | 2028-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CONSENSUS CLOUD SOLUTION                       | Consensus Cloud Solutions Inc                                               | CUSIP: 20848VAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2477000 | PA      | $2281486.67   | 0.30%             | 2028-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                       | Ascent Resources Utica Holdings LLC / ARU Finance Corp                      | CUSIP: 04364VAG8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1898000 | PA      | $1844038.91   | 0.25%             | 2026-11-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| US RENAL CARE INC                              | US Renal Care Inc                                                           | CUSIP: 07335BAA4<br>LEI: 54930058SS5MF69JGN89 | Long             | DBT              | CORP              | US        |   8340000 | PA      | $1834800.00   | 0.24%             | 2027-07-15      | Fixed         | 10.62%                | No            |                  2 | On Loan: No      |
| ENTEGRIS ESCROW CORP                           | Entegris Escrow Corp                                                        | CUSIP: 29365BAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5825000 | PA      | $5379387.50   | 0.72%             | 2030-06-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| BOYD GAMING CORP                               | Boyd Gaming Corp                                                            | CUSIP: 103304BV2<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |   3900000 | PA      | $3397602.00   | 0.45%             | 2031-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PAR PHARMACEUTICAL INC                         | Par Pharmaceutical Inc                                                      | CUSIP: 69888XAA7<br>LEI: 549300KK5WR4MGN4YT97 | Long             | DBT              | CORP              | US        |   2936000 | PA      | $2237524.72   | 0.30%             | 2027-04-01      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| MODIVCARE ESCROW ISSUER                        | ModivCare Escrow Issuer Inc                                                 | CUSIP: 60783XAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4672000 | PA      | $3945971.20   | 0.53%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHAELS COS INC/THE                           | Michaels Cos Inc/The                                                        | CUSIP: 55916AAB0<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |   2518000 | PA      | $1686929.82   | 0.22%             | 2029-05-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| GRUPO AEROMEXICO SAB                           | Grupo Aeromexico SAB de CV                                                  | CUSIP: 40054JAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |   4490000 | PA      | $3971367.28   | 0.53%             | 2027-03-17      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                       | CHS/Community Health Systems Inc                                            | CUSIP: 12543DBM1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1209315.52   | 0.16%             | 2030-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                                   | CUSIP: 674599DF9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   2225000 | PA      | $2274517.38   | 0.30%             | 2036-09-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                        | Frontier Communications Holdings LLC                                        | CUSIP: 35906ABG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3287000 | PA      | $2723706.81   | 0.36%             | 2029-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| LARCHMONT RESOURCES                            | LARCHMONT RESOURCES                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1007 | NS      | $38772.20     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                       | Ascent Resources Utica Holdings LLC / ARU Finance Corp                      | CUSIP: 04364VAU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2401000 | PA      | $2143924.93   | 0.29%             | 2029-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                                | Sealed Air Corp                                                             | CUSIP: 81211KBA7<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |   2175000 | PA      | $2047642.88   | 0.27%             | 2029-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STAPLES INC                                    | Staples Inc                                                                 | CUSIP: 855030AP7<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |   7660000 | PA      | $5528068.80   | 0.74%             | 2027-04-15      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                        | Royal Caribbean Cruises Ltd                                                 | CUSIP: 780153BJ0<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    480000 | PA      | $404400.00    | 0.05%             | 2026-08-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CALLON PETROLEUM                               | Callon Petroleum Co                                                         | CUSIP: 13123XBD3<br>LEI: 549300EFOWPEB0WLZW21 | Long             | DBT              | CORP              | US        |   5090000 | PA      | $4858806.09   | 0.65%             | 2028-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CALLON PETROLEUM CO                            | Callon Petroleum Co                                                         | CUSIP: 13123XBF8<br>LEI: 549300EFOWPEB0WLZW21 | Long             | DBT              | CORP              | US        |   2445000 | PA      | $2240353.50   | 0.30%             | 2030-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| CP ATLAS BUYER INC                             | CP Atlas Buyer Inc                                                          | CUSIP: 12597YAA7<br>LEI: 2549006ZZ07G0NDDCR36 | Long             | DBT              | CORP              | US        |   1146000 | PA      | $852629.27    | 0.11%             | 2028-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                       | USA Compression Partners LP / USA Compression Finance Corp                  | CUSIP: 91740PAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3885000 | PA      | $3638711.59   | 0.48%             | 2027-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SCIENTIFIC GAMES INTERNA                       | Scientific Games International Inc                                          | CUSIP: 80874YBE9<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |   4065000 | PA      | $3909717.00   | 0.52%             | 2029-11-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| TELESAT CANADA/TELESAT L                       | Telesat Canada / Telesat LLC                                                | CUSIP: 87952VAR7<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   6406000 | PA      | $2954913.56   | 0.39%             | 2026-12-06      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| SABLE INTL FINANCE LTD                         | Sable International Finance Ltd                                             | CUSIP: 785712AG5<br>LEI: 2138009IE9A35LO5JS73 | Long             | DBT              | CORP              | KY        |    875000 | PA      | $808718.75    | 0.11%             | 2027-09-07      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SCOTTS MIRACLE-GRO CO                          | Scotts Miracle-Gro Co/The                                                   | CUSIP: 810186AX4<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |    160000 | PA      | $122465.79    | 0.02%             | 2031-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEXSTAR MEDIA INC                              | Nexstar Media Inc                                                           | CUSIP: 65336YAN3<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |   4400000 | PA      | $3812644.00   | 0.51%             | 2028-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| LAREDO PETROLEUM INC                           | Laredo Petroleum Inc                                                        | CUSIP: 516806AG1<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |   2876000 | PA      | $2809087.85   | 0.37%             | 2028-01-15      | Fixed         | 10.12%                | No            |                  2 | On Loan: —       |
| DISH DBS CORP                                  | DISH DBS Corp                                                               | CUSIP: 25470XBF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4555000 | PA      | $3644000.00   | 0.48%             | 2028-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                          | Tenet Healthcare Corp                                                       | CUSIP: 88033GDJ6<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   4170000 | PA      | $3742283.10   | 0.50%             | 2028-10-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| VIBRANTZ TECH INC                              | Vibrantz Technologies Inc                                                   | CUSIP: 69357VAA3<br>LEI: 549300GYZ1T3S8OPH343 | Long             | DBT              | CORP              | US        |   4410000 | PA      | $3333786.25   | 0.44%             | 2030-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| BIS INDUSTRIES (ARTSONIG)                      | BIS INDUSTRIES (ARTSONIG)                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1604602 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| ENCOMPASS HEALTH CORP                          | Encompass Health Corp                                                       | CUSIP: 29261AAB6<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |    969000 | PA      | $852474.84    | 0.11%             | 2030-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Vantage Drilling International                 | Vantage Drilling International                                              | CUSIP: 000000000<br>LEI: 549300T9QN1134QR7185 | Long             | EC               | CORP              | US        |       452 | NS      | $6554.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                        | Asbury Automotive Group Inc                                                 | CUSIP: 043436AU8<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |   2576930 | PA      | $2271988.99   | 0.30%             | 2028-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ASG WRRNT CORP - COM STK                       | ASG WRRNT CORP - COM STK                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1200 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| AIR LEASE CORP                                 | Air Lease Corp                                                              | CUSIP: 00912XBJ2<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   2028000 | PA      | $1699909.96   | 0.23%             | N/A             | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| PILGRIM'S PRIDE CORP                           | Pilgrim's Pride Corp                                                        | CUSIP: 72147KAF5<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |   3775000 | PA      | $3216300.00   | 0.43%             | 2031-04-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                          | Directv Financing LLC / Directv Financing Co-Obligor Inc                    | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6662000 | PA      | $5972882.72   | 0.79%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                 | Bombardier Inc                                                              | CUSIP: 097751BX8<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   2074000 | PA      | $1920399.56   | 0.26%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TRUE RELIGION PREFERRED                        | TRUE RELIGION PREFERRED                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |        24 | NS      | $119120.00    | 0.02%             |  |  |  | No            |                  3 | On Loan: No      |
| COMPASS GROUP DIVERSIFIE                       | Compass Group Diversified Holdings LLC                                      | CUSIP: 20451RAB8<br>LEI: 549300I6PTUQPX21TE93 | Long             | DBT              | CORP              | US        |   2531000 | PA      | $2169297.32   | 0.29%             | 2029-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                         | CCO Holdings LLC / CCO Holdings Capital Corp                                | CUSIP: 1248EPCS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6850000 | PA      | $6450405.25   | 0.86%             | 2029-09-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                            | Medline Borrower LP                                                         | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   4981000 | PA      | $4023377.85   | 0.54%             | 2029-04-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| KCA-KELLY TOPCO                                | KCA-KELLY TOPCO                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26774 | NS      | $1722460.67   | 0.23%             |  |  |  | No            |                  3 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                        | Royal Caribbean Cruises Ltd                                                 | CUSIP: 780153BG6<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   8914000 | PA      | $7129595.48   | 0.95%             | 2028-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE TECH LLC                             | CommScope Technologies LLC                                                  | CUSIP: 20337YAA5<br>LEI: M4TWC4QDOKW45N7T6Y12 | Long             | DBT              | CORP              | US        |   2480000 | PA      | $2261908.80   | 0.30%             | 2025-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                         | Clydesdale Acquisition Holdings Inc                                         | CUSIP: 18972EAB1<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |   2415000 | PA      | $2071699.30   | 0.28%             | 2030-04-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES UTICA                         | Ascent Resources Utica Holdings LLC                                         | CUSIP: 000000000<br>LEI: 549300EGLQ2M2CL7JZ89 | Long             | LON              | CORP              | US        |   1233000 | PA      | $1305952.91   | 0.17%             | 2025-11-01      | Floating      | 13.37%                | No            |                  2 | On Loan: No      |
| WHITE CAP BUYER LLC                            | White Cap Buyer LLC                                                         | CUSIP: 96350RAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4435000 | PA      | $3843565.25   | 0.51%             | 2028-10-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| PETSMART INC/PETSMART FI                       | PetSmart Inc / PetSmart Finance Corp                                        | CUSIP: 71677KAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6288000 | PA      | $5917432.44   | 0.79%             | 2029-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| LSF9 ATL HLDG/VICTRA FIN                       | LSF9 Atlantis Holdings LLC / Victra Finance Corp                            | CUSIP: 50220MAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6302000 | PA      | $5585525.62   | 0.74%             | 2026-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| WEST CORP                                      | Intrado Corp                                                                | CUSIP: 68162RAC5<br>LEI: 5493005Z5DB0O5S30R71 | Long             | LON              | CORP              | US        |   3687613 | PA      | $3395675.87   | 0.45%             | 2024-10-10      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                            | Medline Borrower LP                                                         | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |    884000 | PA      | $703712.62    | 0.09%             | 2029-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| NUSTAR LOGISTICS LP                            | NuStar Logistics LP                                                         | CUSIP: 67059TAF2<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |   4126000 | PA      | $3980051.83   | 0.53%             | 2026-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FMG RESOURCES AUG 2006                         | FMG Resources August 2006 Pty Ltd                                           | CUSIP: 30251GBE6<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |   1505000 | PA      | $1405737.73   | 0.19%             | 2032-04-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| MESQUITE ENERGY INC                            | MESQUITE ENERGY INC                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    622000 | PA      | $10107.50     | 0.00%             | 2023-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Financial Square Government Fund | Goldman Sachs Financial Square Government Fund                              | CUSIP: 38141W273<br>LEI: 549300BRJMXN4GUWZ402 | Long             | STIV             | RF                | US        |  17952264 | NS      | $17952264.04  | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| CNT HOLDINGS I CORP                            | CNT Holdings I Corp                                                         | CUSIP: 12656AAE9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2060000 | PA      | $1953565.98   | 0.26%             | 2028-11-06      | Floating      | 11.12%                | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                       | American Airlines Inc/AAdvantage Loyalty IP Ltd                             | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   2801832 | PA      | $2565807.91   | 0.34%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GRAY TELEVISION INC                            | Gray Television Inc                                                         | CUSIP: 389375AL0<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |   2215000 | PA      | $1605875.00   | 0.21%             | 2030-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                         | Goodyear Tire & Rubber Co/The                                               | CUSIP: 382550BR1<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |   4740000 | PA      | $3883197.60   | 0.52%             | 2031-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                        | Asbury Automotive Group Inc                                                 | CUSIP: 043436AV6<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |   4450930 | PA      | $3728528.93   | 0.50%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                        | Royal Caribbean Cruises Ltd                                                 | CUSIP: 780153BK7<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   6644000 | PA      | $5387958.44   | 0.72%             | 2027-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| VTR COMUNICACIONES SPA                         | VTR Comunicaciones SpA                                                      | CUSIP: 918367AC7<br>LEI: 213800XDZJKMC1AEUV94 | Long             | DBT              | CORP              | CL        |   3166000 | PA      | $1858932.73   | 0.25%             | 2029-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| NCR CORP                                       | NCR Corp                                                                    | CUSIP: 62886EAY4<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |   2287000 | PA      | $1953473.75   | 0.26%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                       | Hilcorp Energy I LP / Hilcorp Finance Co                                    | CUSIP: 431318AZ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2665000 | PA      | $2303588.16   | 0.31%             | 2032-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| HIGHLAND HOLDINGS BOND                         | Highlands Holdings Bond Issuer Ltd / Highlands Holdings Bond Co-Issuer Inc  | CUSIP: 43103QAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   4059145 | PA      | $3797870.83   | 0.51%             | 2025-10-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| GRAY ESCROW II INC                             | Gray Escrow II Inc                                                          | CUSIP: 389286AA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    495000 | PA      | $357605.33    | 0.05%             | 2031-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG                         | Credit Suisse Group AG                                                      | CUSIP: 225401AX6<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |   4715000 | PA      | $4118870.29   | 0.55%             | N/A             | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| ATHENAHEALTH GROUP INC                         | AthenaHealth Group Inc                                                      | CUSIP: 60337JAA4<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | DBT              | CORP              | US        |   2060000 | PA      | $1521942.83   | 0.20%             | 2030-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| LITHIA MOTORS INC                              | Lithia Motors Inc                                                           | CUSIP: 536797AG8<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |   1666000 | PA      | $1372042.63   | 0.18%             | 2029-06-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| FMG RESOURCES AUG 2006                         | FMG Resources August 2006 Pty Ltd                                           | CUSIP: 30251GBD8<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |   3340000 | PA      | $3116128.15   | 0.41%             | 2030-04-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ARD FINANCE SA                                 | ARD Finance SA                                                              | CUSIP: 00191AAD8<br>LEI: 6354006P6QPGGPVJW880 | Long             | DBT              | CORP              | LU        |   1751144 | PA      | $1220744.37   | 0.16%             | 2027-06-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SUNSET DEBT MERGER SUB INC                     | Sunset Debt Merger Sub Inc                                                  | CUSIP: 78489HAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4240642 | PA      | $3485807.67   | 0.46%             | 2028-10-06      | Floating      | 8.37%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                  | Carnival Corp                                                               | CUSIP: 143658BR2<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   7316000 | PA      | $4888968.21   | 0.65%             | 2029-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BELLATRIX EXPLORATION                          | Bellatrix Exploration Ltd                                                   | CUSIP: 078314AF8<br>LEI: 549300S2235IL73TH941 | Long             | DBT              | CORP              | CA        |   1022000 | PA      | $0.01         | 0.00%             | 2023-09-11      | Fixed         | 8.50%                 | No            |                  3 | On Loan: No      |
| SABRE GLBL INC                                 | Sabre GLBL Inc                                                              | CUSIP: 78573NAC6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |    756000 | PA      | $754395.01    | 0.10%             | 2025-04-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| NCR CORP                                       | NCR Corp                                                                    | CUSIP: 62886EBA5<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |   6521000 | PA      | $5465303.57   | 0.73%             | 2029-04-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                   | Novelis Corp                                                                | CUSIP: 670001AE6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |   6240000 | PA      | $5546236.80   | 0.74%             | 2030-01-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TELESAT CANADA/TELESAT L                       | Telesat Canada / Telesat LLC                                                | CUSIP: 87952VAM8<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1130000 | PA      | $328639.37    | 0.04%             | 2027-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NUSTAR LOGISTICS LP                            | NuStar Logistics LP                                                         | CUSIP: 67059TAH8<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |   4170000 | PA      | $3863253.55   | 0.51%             | 2030-10-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED COMMUNICATI                       | Consolidated Communications Inc                                             | CUSIP: 20903XAF0<br>LEI: 549300WW675Y48HDVX34 | Long             | DBT              | CORP              | US        |   6113000 | PA      | $4765454.56   | 0.63%             | 2028-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                                   | CUSIP: 674599DK8<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1030000 | PA      | $825140.21    | 0.11%             | 2044-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UNITED PF HOLDINGS LLC                         | United PF Holdings LLC                                                      | CUSIP: 91132UAK9<br>LEI: 2549002AF6PASVP2G486 | Long             | LON              | CORP              | US        |    663863 | PA      | $597476.83    | 0.08%             | 2026-11-12      | Floating      | 12.79%                | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                                   | CUSIP: 674599ED3<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1680000 | PA      | $1739866.80   | 0.23%             | 2030-09-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                        | Frontier Communications Holdings LLC                                        | CUSIP: 35908MAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1080000 | PA      | $1100190.06   | 0.15%             | 2030-05-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| WESCO AIRCRAFT HOLDINGS                        | Wesco Aircraft Holdings Inc                                                 | CUSIP: 97789LAA4<br>LEI: 529900P5VTXZS191P208 | Long             | DBT              | CORP              | US        |    858000 | PA      | $216645.00    | 0.03%             | 2027-11-15      | Fixed         | 13.12%                | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                          | Genesis Energy LP / Genesis Energy Finance Corp                             | CUSIP: 37185LAM4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5255000 | PA      | $4970284.10   | 0.66%             | 2027-01-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                         | Clydesdale Acquisition Holdings Inc                                         | CUSIP: 18972EAA3<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    755000 | PA      | $718779.25    | 0.10%             | 2029-04-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                             | Ford Motor Co                                                               | CUSIP: 345370CQ1<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   2660000 | PA      | $1915327.41   | 0.25%             | 2043-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                                   | CUSIP: 674599DL6<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1850000 | PA      | $1907803.25   | 0.25%             | 2046-03-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                 | Sabre GLBL Inc                                                              | CUSIP: 78573NAF9<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |    313000 | PA      | $301323.54    | 0.04%             | 2025-09-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| HADRIAN MERGER SUB                             | Hadrian Merger Sub Inc                                                      | CUSIP: 42239PAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    509000 | PA      | $450569.35    | 0.06%             | 2026-05-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS ESCROW CORP                           | Entegris Escrow Corp                                                        | CUSIP: 29365BAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2121000 | PA      | $1938492.83   | 0.26%             | 2029-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                               | CSC Holdings LLC                                                            | CUSIP: 126307BH9<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   1754000 | PA      | $1220238.51   | 0.16%             | 2031-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                               | Altice France SA/France                                                     | CUSIP: 02156LAH4<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   1292000 | PA      | $987494.98    | 0.13%             | 2029-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NCR CORP                                       | NCR Corp                                                                    | CUSIP: 62886EAV0<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |    983000 | PA      | $920736.78    | 0.12%             | 2029-09-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Fidelity Government Portfolio                  | Fidelity Government Portfolio                                               | CUSIP: 316175108<br>LEI: N/A                  | Long             | STIV             | RF                | US        |  17952264 | NS      | $17952264.10  | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| AIR CANADA                                     | Air Canada                                                                  | CUSIP: 000000000<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | LON              | CORP              | CA        |   1900000 | PA      | $1882582.70   | 0.25%             | 2028-08-11      | Floating      | 7.77%                 | No            |                  2 | On Loan: No      |
| CONNECT FINCO SARL/CONNE                       | Connect Finco SARL / Connect US Finco LLC                                   | CUSIP: 20752TAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   6220000 | PA      | $5777257.29   | 0.77%             | 2026-10-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DREYFUS INST PREF GOVT PLUS MMF - SL #4134     | DREYFUS INST PREF GOVT PLUS MMF - SL #4134                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |  36722129 | NS      | $36722129.32  | 4.89%             |  |  |  | No            |                  1 | On Loan: No      |
| CSC HOLDINGS LLC                               | CSC Holdings LLC                                                            | CUSIP: 126307BA4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   1372000 | PA      | $776819.54    | 0.10%             | 2030-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE HOLDING SA                       | Altice France Holding SA                                                    | CUSIP: 02156TAA2<br>LEI: 5299000JVHXKJPOE6H40 | Long             | DBT              | CORP              | LU        |  10750000 | PA      | $6368748.28   | 0.85%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BOYD GAMING CORP                               | Boyd Gaming Corp                                                            | CUSIP: 103304BU4<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |   4385000 | PA      | $4090503.40   | 0.54%             | 2027-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| VZ SECURED FINANCING BV                        | VZ Secured Financing BV                                                     | CUSIP: 91845AAA3<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |   2805000 | PA      | $2284480.08   | 0.30%             | 2032-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                   | Calpine Corp                                                                | CUSIP: 131347CQ7<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    370000 | PA      | $310988.29    | 0.04%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                          | Tenet Healthcare Corp                                                       | CUSIP: 88033GDN7<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   3810000 | PA      | $3304489.20   | 0.44%             | 2030-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                          | HUB International Ltd                                                       | CUSIP: 44332PAG6<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |   6605000 | PA      | $5777277.25   | 0.77%             | 2029-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PRE-PAID LEGAL SERVICES                        | Pre-Paid Legal Services Inc                                                 | CUSIP: 74006LAU6<br>LEI: 549300DKH5WJ2J8QU878 | Long             | LON              | CORP              | US        |   2245000 | PA      | $2062593.75   | 0.27%             | 2029-12-15      | Floating      | 11.34%                | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                       | EQM Midstream Partners LP                                                   | CUSIP: 26885BAL4<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |   8299000 | PA      | $6800657.05   | 0.91%             | 2031-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| HEARTLAND DENTAL LLC                           | Heartland Dental LLC                                                        | CUSIP: 42236WAT4<br>LEI: 5493008FRC0GRKBN1075 | Long             | LON              | CORP              | US        |   3905375 | PA      | $3690579.38   | 0.49%             | 2025-04-30      | Floating      | 9.32%                 | No            |                  2 | On Loan: No      |
| FORM TECHNOLOGIES LLC                          | Form Technologies LLC                                                       | CUSIP: 000000000<br>LEI: X7KHAIMGSSPZ1XIJIL51 | Long             | LON              | CORP              | US        |  11912959 | PA      | $10384132.91  | 1.38%             | 2025-07-22      | Floating      | 9.14%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                         | CCO Holdings LLC / CCO Holdings Capital Corp                                | CUSIP: 1248EPCE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2924000 | PA      | $2422270.84   | 0.32%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                             | Commonwealth of Puerto Rico                                                 | CUSIP: 74514L3L9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    104086 | PA      | $87844.42     | 0.01%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CNX MIDSTREAM PART LP                          | CNX Midstream Partners LP                                                   | CUSIP: 12654AAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    545000 | PA      | $447970.93    | 0.06%             | 2030-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ADVANTAGE SALES & MARKETING                    | Advantage Sales & Marketing Inc                                             | CUSIP: 00769EAZ3<br>LEI: 549300T4O24KQDED1182 | Long             | LON              | CORP              | US        |   4480499 | PA      | $3727914.03   | 0.50%             | 2027-10-28      | Floating      | 8.88%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                        | Frontier Communications Holdings LLC                                        | CUSIP: 35906ABF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    745000 | PA      | $651137.45    | 0.09%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                         | Clydesdale Acquisition Holdings Inc                                         | CUSIP: 18972FAC6<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |    698845 | PA      | $667632.11    | 0.09%             | 2029-04-13      | Floating      | 8.51%                 | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                        | Asbury Automotive Group Inc                                                 | CUSIP: 043436AX2<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |     85000 | PA      | $70040.00     | 0.01%             | 2032-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                               | Deutsche Bank AG                                                            | CUSIP: 251525AX9<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   3800000 | PA      | $3241672.08   | 0.43%             | N/A             | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                       | Hilcorp Energy I LP / Hilcorp Finance Co                                    | CUSIP: 431318AY0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5220000 | PA      | $4649563.62   | 0.62%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AMC NETWORKS INC                               | AMC Networks Inc                                                            | CUSIP: 00164VAF0<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |   4609000 | PA      | $2878631.61   | 0.38%             | 2029-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                   | Calpine Corp                                                                | CUSIP: 131347CN4<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |   5470000 | PA      | $4891973.07   | 0.65%             | 2028-03-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: —       |
| VISTRA CORP                                    | Vistra Corp                                                                 | CUSIP: 92840MAC6<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |   6710000 | PA      | $6115347.72   | 0.81%             | N/A             | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SC GAMES HOLDIN/US FINCO                       | Scientific Games Holdings LP/Scientific Games US FinCo Inc                  | CUSIP: 80874DAA4<br>LEI: 549300W5GPFXXB6TQ330 | Long             | DBT              | CORP              | US        |   4515000 | PA      | $3819690.00   | 0.51%             | 2030-03-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                                   | CUSIP: 674599CJ2<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1008000 | PA      | $789057.36    | 0.11%             | 2046-04-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| NEW COTAI EQUITY                               | NEW COTAI EQUITY                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3298686 | PA      | $7605540.34   | 1.01%             | 2027-02-02      | Fixed         | 5.00%                 | No            |                  3 | On Loan: No      |
| MSILF Government Portfolio                     | MSILF Government Portfolio                                                  | CUSIP: 61747C707<br>LEI: 549300BI6Y5SI6BYPB26 | Long             | STIV             | RF                | US        |  17952264 | NS      | $17952264.10  | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| NCR CORP                                       | NCR Corp                                                                    | CUSIP: 62886EAZ1<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |    782000 | PA      | $646428.57    | 0.09%             | 2030-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MURPHY OIL CORP                                | Murphy Oil Corp                                                             | CUSIP: 626717AN2<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |   8268000 | PA      | $7970184.16   | 1.06%             | 2028-07-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| WESCO AIRCRAFT HOLDINGS                        | Wesco Aircraft Holdings Inc                                                 | CUSIP: 97789LAB2<br>LEI: 529900P5VTXZS191P208 | Long             | DBT              | CORP              | US        |   6438000 | PA      | $4361745.00   | 0.58%             | 2026-11-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: —       |
| SPIRIT AIRLINES INC                            | Spirit Airlines Inc                                                         | CUSIP: 848577AB8<br>LEI: 549300DCAFIXFNFR3304 | Long             | DBT              | CORP              | US        |   1186000 | PA      | $960660.00    | 0.13%             | 2026-05-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| JONES DESLAURIERS INSURA                       | Jones Deslauriers Insurance Management Inc                                  | CUSIP: 000000000<br>LEI: 549300JQIWNFU00E5424 | Long             | LON              | CORP              | CA        |   5051636 | PA      | $3469735.46   | 0.46%             | 2028-03-26      | Floating      | 9.11%                 | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT                         | Mauser Packaging Solutions Holding Co                                       | CUSIP: 12429TAD6<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |   4390000 | PA      | $4277647.61   | 0.57%             | 2024-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                        | Frontier Communications Holdings LLC                                        | CUSIP: 35908MAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1011498 | PA      | $783886.47    | 0.10%             | 2029-11-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                               | CSC Holdings LLC                                                            | CUSIP: 126307BK2<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   2381000 | PA      | $1333360.00   | 0.18%             | 2031-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHWEST FIBER LLC/NORT                       | Northwest Fiber LLC / Northwest Fiber Finance Sub Inc                       | CUSIP: 667449AD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2743000 | PA      | $2416892.14   | 0.32%             | 2027-04-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ARCHES BUYER INC                               | Arches Buyer Inc                                                            | CUSIP: 039524AB9<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |   3964000 | PA      | $3186441.58   | 0.42%             | 2028-12-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| ENCOMPASS HEALTH CORP                          | Encompass Health Corp                                                       | CUSIP: 29261AAE0<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |   1495000 | PA      | $1287377.09   | 0.17%             | 2031-04-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ENERGY CO                         | Southwestern Energy Co                                                      | CUSIP: 845467AS8<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |   7590000 | PA      | $6936834.96   | 0.92%             | 2030-03-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Studio City International Hold                 | Studio City International Holdings Ltd                                      | CUSIP: 86389T106<br>LEI: N/A                  | Long             | EC               | CORP              | HK        |    343125 | NS      | $2045025.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| HUNTER DOUGLAS INC                             | Hunter Douglas Inc                                                          | CUSIP: 000000000<br>LEI: 529900811T142NS3H544 | Long             | LON              | CORP              | US        |   2073877 | PA      | $1836158.85   | 0.24%             | 2029-02-25      | Floating      | 7.91%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity FedFund                    | BlackRock Liquidity FedFund                                                 | CUSIP: 09248U700<br>LEI: 549300T8K043VZEOVK74 | Long             | STIV             | RF                | US        |  17952264 | NS      | $17952264.09  | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| CHEPLAPHARM ARZNEIMITTEL                       | Cheplapharm Arzneimittel GmbH                                               | CUSIP: 16412EAA5<br>LEI: 529900ONXKBELT7EW052 | Long             | DBT              | CORP              | DE        |   4525000 | PA      | $3790954.50   | 0.50%             | 2028-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AVANTOR FUNDING INC                            | Avantor Funding Inc                                                         | CUSIP: 05352TAB5<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |   9835000 | PA      | $8271480.88   | 1.10%             | 2029-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SEASPAN CORP                                   | Seaspan Corp                                                                | CUSIP: 81254UAK2<br>LEI: 5493007Z8Q1H45KT7W98 | Long             | DBT              | CORP              | MH        |   6910000 | PA      | $5245588.30   | 0.70%             | 2029-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                            | CDW LLC / CDW Finance Corp                                                  | CUSIP: 12513GBJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6715000 | PA      | $5545993.71   | 0.74%             | 2031-12-01      | Fixed         | 3.57%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                        | United Rentals North America Inc                                            | CUSIP: 911365BQ6<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |   2915000 | PA      | $2902392.63   | 0.39%             | 2029-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                    | Chemours Co/The                                                             | CUSIP: 163851AF5<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |   4550000 | PA      | $4093180.00   | 0.54%             | 2028-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BELLATRIX EXPLORATION                          | Bellatrix Exploration Ltd                                                   | CUSIP: 078314AK7<br>LEI: 549300S2235IL73TH941 | Long             | DBT              | CORP              | CA        |   1113000 | PA      | $0.01         | 0.00%             | 2023-12-15      | Variable      | 12.50%                | No            |                  3 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                        | Asbury Automotive Group Inc                                                 | CUSIP: 043436AW4<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |     85000 | PA      | $71724.70     | 0.01%             | 2029-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                       | Hilcorp Energy I LP / Hilcorp Finance Co                                    | CUSIP: 431318AV6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    705000 | PA      | $610747.63    | 0.08%             | 2031-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ORGANON & CO/ORG                               | Organon & Co / Organon Foreign Debt Co-Issuer BV                            | CUSIP: 68622TAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6670000 | PA      | $5787127.45   | 0.77%             | 2031-04-30      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ADVANTAGE SALES & MARKET                       | Advantage Sales & Marketing Inc                                             | CUSIP: 00775PAA5<br>LEI: 549300T4O24KQDED1182 | Long             | DBT              | CORP              | US        |   5940000 | PA      | $4538041.20   | 0.60%             | 2028-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NFP CORP                                       | NFP Corp                                                                    | CUSIP: 65342RAD2<br>LEI: VO2L9FZNXDJNQNEYH039 | Long             | DBT              | CORP              | US        |   6907000 | PA      | $5708490.45   | 0.76%             | 2028-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                          | Genesis Energy LP / Genesis Energy Finance Corp                             | CUSIP: 37185LAL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3335000 | PA      | $3075070.10   | 0.41%             | 2028-02-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| AERCAP HOLDINGS NV                             | AerCap Holdings NV                                                          | CUSIP: 00774YAA7<br>LEI: 549300SZYINBBLJQU475 | Long             | DBT              | CORP              | NL        |   3802000 | PA      | $3467081.82   | 0.46%             | 2079-10-10      | Fixed         | 5.88%                 | No            |                  2 | On Loan: —       |
| WESTMORELAND COAL                              | WESTMORELAND COAL                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28632 | NS      | $49819.68     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| CONSENSUS CLOUD SOLUTION                       | Consensus Cloud Solutions Inc                                               | CUSIP: 20848VAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1785000 | PA      | $1677017.67   | 0.22%             | 2026-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MAJORDRIVE HOLDINGS IV L                       | MajorDrive Holdings IV LLC                                                  | CUSIP: 56085RAA8<br>LEI: 25490044R1FR5N8FIT62 | Long             | DBT              | CORP              | US        |   6450000 | PA      | $4821316.95   | 0.64%             | 2029-06-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| GDB DEBT RECOVERY AUTH OF CMWL                 | GDB Debt Recovery Authority of Puerto Rico                                  | CUSIP: 36829QAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4300408 | PA      | $3601591.31   | 0.48%             | 2040-08-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| THE TORONTO-DOMINION BANK                      | CAD/USD FORWARD                                                             | CUSIP: 000000000<br>LEI: PT3QB789TSUIDF371261 | N/A              | DFE              | CORP              | US        |         1 | NC      | $84180.13     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| STUDIO CITY INTL ADR                           | STUDIO CITY INTL ADR                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    581459 | NS      | $3465495.64   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST QUANTUM MINERALS L                       | First Quantum Minerals Ltd                                                  | CUSIP: 335934AT2<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |   1941000 | PA      | $1825089.89   | 0.24%             | 2027-10-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CASTLELAKE AVIATION FIN                        | Castlelake Aviation Finance DAC                                             | CUSIP: 14856HAA6<br>LEI: 2138006F7SMD1COVC345 | Long             | DBT              | CORP              | IE        |   4590000 | PA      | $3999904.09   | 0.53%             | 2027-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NFP CORP                                       | NFP Corp                                                                    | CUSIP: 65342RAF7<br>LEI: VO2L9FZNXDJNQNEYH039 | Long             | DBT              | CORP              | US        |   1865000 | PA      | $1765359.95   | 0.23%             | 2030-10-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                             | Commonwealth of Puerto Rico                                                 | CUSIP: 74514L3M7<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    110562 | PA      | $90729.39     | 0.01%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                                   | CUSIP: 674599CY9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1985000 | PA      | $1552637.23   | 0.21%             | 2049-08-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                  | Carnival Corp                                                               | CUSIP: 143658BL5<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   4148000 | PA      | $3295024.78   | 0.44%             | 2026-03-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                          | Bausch Health Cos Inc                                                       | CUSIP: 071734AP2<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   3140000 | PA      | $2169363.20   | 0.29%             | 2027-02-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CP ATLAS BUYER INC                             | CP Atlas Buyer Inc                                                          | CUSIP: 12658HAG7<br>LEI: 2549006ZZ07G0NDDCR36 | Long             | LON              | CORP              | US        |   4374564 | PA      | $3846882.48   | 0.51%             | 2027-11-23      | Floating      | 7.87%                 | No            |                  2 | On Loan: No      |
| Laureate Education Inc                         | Laureate Education Inc                                                      | CUSIP: 518613203<br>LEI: 5JL7TMOH5TY3IUYSUP91 | Long             | EC               | CORP              | US        |    217638 | NS      | $2093677.56   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| ALTICE FRANCE HOLDING SA                       | Altice France Holding SA                                                    | CUSIP: 02156TAB0<br>LEI: 5299000JVHXKJPOE6H40 | Long             | DBT              | CORP              | LU        |   4453000 | PA      | $3404986.45   | 0.45%             | 2027-05-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO INC                            | Sirius XM Radio Inc                                                         | CUSIP: 82967NBG2<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |   9080000 | PA      | $7513382.20   | 1.00%             | 2030-07-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| STAPLES INC                                    | Staples Inc                                                                 | CUSIP: 855030AN2<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |   4599000 | PA      | $3967741.26   | 0.53%             | 2026-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CRESTWOOD MID PARTNER LP                       | Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp          | CUSIP: 226373AR9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    850000 | PA      | $781112.35    | 0.10%             | 2029-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                       | CHS/Community Health Systems Inc                                            | CUSIP: 12543DBK5<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2183685.00   | 0.29%             | 2031-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FORESIGHT ENERGY LLC                           | Foresight Energy LLC                                                        | CUSIP: 34552KAB2<br>LEI: 549300HM3UR1W0JJ7F28 | Long             | LON              | CORP              | US        |   1263869 | PA      | $1251230.61   | 0.17%             | 2027-06-30      | Floating      | 12.37%                | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                                   | CUSIP: 674599CN3<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    255000 | PA      | $196259.48    | 0.03%             | 2048-03-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES BV                        | Sensata Technologies BV                                                     | CUSIP: 81725WAK9<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |   3805000 | PA      | $3286949.25   | 0.44%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                               | CSC Holdings LLC                                                            | CUSIP: 126307BD8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   7234000 | PA      | $4013706.05   | 0.53%             | 2030-12-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| CMG MEDIA CORPORATION                          | CMG Media Corp                                                              | CUSIP: 88146LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4286000 | PA      | $3232844.08   | 0.43%             | 2027-12-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| MICHAELS COS INC/THE                           | Michaels Cos Inc/The                                                        | CUSIP: 55916AAA2<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |   2801000 | PA      | $2256865.70   | 0.30%             | 2028-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| APPLIED SYSTEMS INC                            | Applied Systems Inc                                                         | CUSIP: 000000000<br>LEI: 549300NSKGF0SY5SWQ62 | Long             | LON              | CORP              | US        |   4121112 | PA      | $4110809.44   | 0.55%             | 2027-09-19      | Floating      | 11.08%                | No            |                  2 | On Loan: No      |
| Invesco Senior Loan ETF                        | Invesco Senior Loan ETF                                                     | CUSIP: 46138G508<br>LEI: 549300SIHU6DQELRNG59 | Long             | EC               | RF                | US        |    424157 | NS      | $8707943.21   | 1.16%             |  |  |  | No            |                  1 | On Loan: —       |
| FORESIGHT ENERGY                               | FORESIGHT ENERGY                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    185516 | NS      | $2851373.85   | 0.38%             |  |  |  | No            |                  3 | On Loan: No      |
| AHERN RENTALS INC                              | Ahern Rentals Inc                                                           | CUSIP: 008674AH6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3231000 | PA      | $3231000.00   | 0.43%             | 2023-05-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CERDIA FINANZ GMBH                             | Cerdia Finanz GmbH                                                          | CUSIP: 15679GAA0<br>LEI: 391200KURNDJSX9GX570 | Long             | DBT              | CORP              | DE        |   3160000 | PA      | $2651364.50   | 0.35%             | 2027-02-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| CONSOLIDATED COMMUNICATI                       | Consolidated Communications Inc                                             | CUSIP: 20903XAH6<br>LEI: 549300WW675Y48HDVX34 | Long             | DBT              | CORP              | US        |   1129000 | PA      | $834068.28    | 0.11%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VTR FINANCE BV                                 | VTR Finance NV                                                              | CUSIP: 918374AA7<br>LEI: 213800F4XI4RJB82XM19 | Long             | DBT              | CORP              | NL        |   2826000 | PA      | $1095910.93   | 0.15%             | 2028-07-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ALTICE FINANCING SA                            | Altice Financing SA                                                         | CUSIP: 02154CAH6<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |   5719000 | PA      | $4509076.35   | 0.60%             | 2029-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ENERGY CO                         | Southwestern Energy Co                                                      | CUSIP: 845467AR0<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |    760000 | PA      | $705663.80    | 0.09%             | 2029-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                         | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC | CUSIP: 03969YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    614000 | PA      | $522339.13    | 0.07%             | 2028-09-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                        | Frontier Communications Holdings LLC                                        | CUSIP: 35906ABE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3836000 | PA      | $3570433.72   | 0.48%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CNX RESOURCES CORP                             | CNX Resources Corp                                                          | CUSIP: 12653CAJ7<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |   6420000 | PA      | $5916858.82   | 0.79%             | 2029-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                               | Altice France SA/France                                                     | CUSIP: 02156LAF8<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   2375000 | PA      | $1784879.48   | 0.24%             | 2029-07-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| NESCO HOLDINGS II INC                          | NESCO Holdings II Inc                                                       | CUSIP: 64083YAA9<br>LEI: 254900FAHT0HW9T6L409 | Long             | DBT              | CORP              | US        |   4712000 | PA      | $4129125.60   | 0.55%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KRONOS ACQ / KIK CUSTOM                        | Kronos Acquisition Holdings Inc / KIK Custom Products Inc                   | CUSIP: 50106GAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2411000 | PA      | $2088528.75   | 0.28%             | 2026-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| iShares iBoxx High Yield Corporate Bond ETF    | iShares iBoxx High Yield Corporate Bond ETF                                 | CUSIP: 464288513<br>LEI: N/A                  | Long             | EC               | RF                | US        |    290000 | NS      | $21352700.00  | 2.84%             |  |  |  | No            |                  1 | On Loan: —       |
| HEXION INC                                     | Hexion Inc                                                                  | CUSIP: 42829JAB5<br>LEI: 54930030FZF8HYAEHM46 | Long             | LON              | CORP              | US        |   3665000 | PA      | $2913675.00   | 0.39%             | 2030-03-15      | Floating      | 11.32%                | No            |                  2 | On Loan: No      |
| Sabine Oil & Gas Holdings Inc                  | Sabine Oil & Gas Holdings Inc                                               | CUSIP: 78532M104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       263 | NS      | $325.80       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| MIDCAP FINANCIAL ISSR TR                       | Midcap Financial Issuer Trust                                               | CUSIP: 59567LAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2340000 | PA      | $2015828.10   | 0.27%             | 2028-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                             | Commonwealth of Puerto Rico                                                 | CUSIP: 74514L3Q8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |     47686 | PA      | $44215.41     | 0.01%             | 2024-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MLN US HOLDCO LLC                              | MLN US HOLDCO LLC                                                           | CUSIP: 55292HAL7<br>LEI: 549300QKU7NPW6O86862 | Long             | LON              | CORP              | US        |   2336000 | PA      | $1810400.00   | 0.24%             | 2027-10-18      | Floating      | 13.67%                | No            |                  2 | On Loan: No      |
| CALPINE CORP                                   | Calpine Corp                                                                | CUSIP: 131347CP9<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |   3295000 | PA      | $2832576.08   | 0.38%             | 2029-02-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                       | USA Compression Partners LP / USA Compression Finance Corp                  | CUSIP: 91740PAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    665000 | PA      | $638995.18    | 0.09%             | 2026-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| UKG INC                                        | UKG Inc                                                                     | CUSIP: 000000000<br>LEI: 529900FKHWSTQ1GXK240 | Long             | LON              | CORP              | US        |   5615000 | PA      | $5186856.25   | 0.69%             | 2027-05-03      | Floating      | 9.62%                 | No            |                  2 | On Loan: No      |
| HEXION INC                                     | Hexion Inc                                                                  | CUSIP: 00217XAB2<br>LEI: 54930030FZF8HYAEHM46 | Long             | LON              | CORP              | US        |    902738 | PA      | $778159.73    | 0.10%             | 2029-03-15      | Floating      | 9.01%                 | No            |                  2 | On Loan: No      |
| JONES DESLAURIERS INSURA                       | Jones Deslauriers Insurance Management Inc                                  | CUSIP: 000000000<br>LEI: 549300JQIWNFU00E5424 | Long             | LON              | CORP              | CA        |   1150602 | PA      | $790295.23    | 0.11%             | 2028-03-26      | Floating      | 9.11%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONA                       | Weatherford International Ltd                                               | CUSIP: 947075AU1<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |   3935000 | PA      | $3785836.74   | 0.50%             | 2030-04-30      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| CRESTWOOD MID PARTNER LP                       | Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp          | CUSIP: 226373AQ1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1636000 | PA      | $1524293.92   | 0.20%             | 2027-05-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| AIR CANADA                                     | Air Canada                                                                  | CUSIP: 008911BK4<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | DBT              | CORP              | CA        |   8105000 | PA      | $7192642.03   | 0.96%             | 2026-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| LIGADO NETWORKS LLC                            | Ligado Networks LLC                                                         | CUSIP: 53225HAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8927518 | PA      | $2911263.46   | 0.39%             | 2023-11-01      | Fixed         | 15.50%                | No            |                  2 | On Loan: No      |
| MIDAS OPCO HOLDINGS LLC                        | Stagwell Global LLC                                                         | CUSIP: 59565JAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4022000 | PA      | $3324002.01   | 0.44%             | 2029-08-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                  | TransDigm Inc                                                               | CUSIP: 893647BL0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   7030000 | PA      | $6615792.40   | 0.88%             | 2027-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MLN US HOLDCO LLC                              | MLN US HOLDCO LLC                                                           | CUSIP: 55292HAJ2<br>LEI: 549300QKU7NPW6O86862 | Long             | LON              | CORP              | US        |   8256075 | PA      | $6687420.49   | 0.89%             | 2027-10-18      | Floating      | 11.12%                | No            |                  2 | On Loan: No      |
| JONES DESLAURIERS INSURA                       | Jones Deslauriers Insurance Management Inc                                  | CUSIP: 48020RAA3<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |   3385000 | PA      | $3338131.63   | 0.44%             | 2030-12-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| SPX FLOW INC                                   | SPX FLOW Inc                                                                | CUSIP: 000000000<br>LEI: 5493003YXEKRBINIEM78 | Long             | LON              | CORP              | US        |   4673288 | PA      | $4360761.40   | 0.58%             | 2029-04-05      | Floating      | 8.83%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                         | CCO Holdings LLC / CCO Holdings Capital Corp                                | CUSIP: 1248EPCQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3290000 | PA      | $2673931.05   | 0.36%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                  | Carnival Corp                                                               | CUSIP: 143658BN1<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   5753000 | PA      | $4117824.81   | 0.55%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DIG INTL FIN/DIG INTL HL                       | Digicel International Finance Ltd/Digicel international Holdings Ltd        | CUSIP: 25381XAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   1158698 | PA      | $512329.91    | 0.07%             | 2026-12-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-22

**Name of Applicant:** Ivy Variable Insurance Portfolio

**Signature:** Dan Geatens

**Name of Signer:** Dan Geatens

**Title:** Division Director - Head of US Fund Administration