# EDGAR Filing Document

**Accession Number:** 0001849998
**File Stem:** 0001193125-25-247986
**Filing Date:** 2025-10
**Character Count:** 89619
**Document Hash:** 7975a40f3e35947749bbfcffd02ef6ae
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-247986.hdr.sgml**: 20251023

**ACCESSION NUMBER**: 0001193125-25-247986

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251023

**DATE AS OF CHANGE**: 20251023

**PERIOD START**: 20260228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Federated Hermes ETF Trust
- **CENTRAL INDEX KEY:** 0001849998

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23730
- **FILM NUMBER:** 251411654

**BUSINESS ADDRESS:**
- **STREET 1:** 4000 ERICSSON DRIVE
- **CITY:** WARRENDALE
- **STATE:** PA
- **ZIP:** 15086
- **BUSINESS PHONE:** 412-288-1900

**MAIL ADDRESS:**
- **STREET 1:** 4000 ERICSSON DRIVE
- **CITY:** WARRENDALE
- **STATE:** PA
- **ZIP:** 15086

## Series and Classes Contracts Data

### Federated Hermes Short Duration High Yield ETF (Series ID: S000074174)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000231759 | Federated Hermes Short Duration High Yield ETF | FHYS            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Federated Hermes ETF Trust

- **b. Investment Company Act file number:** 811-23730

- **c. CIK number of Registrant:** 0001849998

- **d. LEI of Registrant:** 2549000FKW49U2D1SG36

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

  - **Street Address 1:** Federated Hermes Funds

  - **City:** Warrendale

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 15086-7561

  - **Telephone number:** 800-341-7400

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

- **a. Name of Series:** Federated Hermes Short Duration High Yield ETF

- **b. EDGAR series identifier (if any):** S000074174

- **c. LEI of Series:** 254900C6EJWE31DXU692

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

- **a. Date of fiscal year-end:** 2026-02-28

- **b. Date as of which information is reported:** 2025-08-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $34681264.51

**Total Liabilities:** $324134.75

**Net Assets:** $34357129.76

**Delayed Delivery Securities:** $149875.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -16.358844000000 | **1-Year:** -110.581684000000 | **5-Year:** -112.390939000000 | **10-Year:** -11.852183000000 | **30-Year:** 0.000000000000

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

- **3-Month:** -242.750451000000 | **1-Year:** -2332.728784000000 | **5-Year:** -3746.903859000000 | **10-Year:** -295.489792000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000231759 | 1.35%                | 0.31%                | 0.86%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $8973.06                 | $239835.17                                 |
| Month 2  | $15897.84                | $-71475.89                                 |
| Month 3  | $3169.70                 | $128046.39                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AETHON UN/AETHIN UN FIN                      | Aethon United BR LP / Aethon United Finance Corp                                | CUSIP: 00810GAD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $286836.83    | 0.83%             | 2029-10-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                      | Asbury Automotive Group Inc                                                     | CUSIP: 043436AW4<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |    190000 | PA      | $184525.64    | 0.54%             | 2029-11-15      | Fixed         | 4.63%                 | Yes           |                  2 | On Loan: No      |
| AthenaHealth Group Inc                       | Athenahealth, Inc. 2022 Term Loan B                                             | CUSIP: 04686RAB9<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | LON              | CORP              | US        |    172353 | PA      | $172173.59    | 0.50%             | 2029-02-15      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| BLUE RACER MID LLC/FINAN                     | Blue Racer Midstream LLC / Blue Racer Finance Corp                              | CUSIP: 095796AJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $260091.25    | 0.76%             | 2029-07-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Caesars Entertainment Inc                    | CAESARS ENTERTAINMENT CORP                                                      | CUSIP: 12768EAG1<br>LEI: 549300FA4CTCW903Y781 | Long             | LON              | CORP              | US        |     40875 | PA      | $40721.72     | 0.12%             | 2030-02-06      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment Inc                    | Caesars Entertainment Inc                                                       | CUSIP: 12768EAH9<br>LEI: 549300FA4CTCW903Y781 | Long             | LON              | CORP              | US        |    246875 | PA      | $245949.22    | 0.72%             | 2031-02-06      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                 | Calpine Corp                                                                    | CUSIP: 131347CN4<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199853.34    | 0.58%             | 2028-03-15      | Fixed         | 5.13%                 | Yes           |                  2 | On Loan: No      |
| SIX FLAGS/CANADA WON                         | Cedar Fair LP / Canada's Wonderland Co / Magnum Management Corp / Millennium Op | CUSIP: 150190AK2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $150887.10    | 0.44%             | 2028-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                     | Centennial Resource Production LLC                                              | CUSIP: 15138AAA8<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    125000 | PA      | $124988.29    | 0.36%             | 2026-01-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC                        | Civitas Resources Inc                                                           | CUSIP: 17888HAC7<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    150000 | PA      | $156156.45    | 0.45%             | 2030-11-01      | Fixed         | 8.63%                 | Yes           |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc          | Clydesdale Acquisition Holdings Inc Term Loan B                                 | CUSIP: 18972FAC6<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |    163390 | PA      | $163164.96    | 0.47%             | 2029-04-13      | Floating      | 7.49%                 | No            |                  2 | On Loan: No      |
| CONSENSUS CLOUD SOLUTION                     | Consensus Cloud Solutions Inc                                                   | CUSIP: 20848VAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $249687.50    | 0.73%             | 2026-10-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| EMRLD BORROWER LP                            | Emrld Borrower LP2024 Term Loan B                                               | CUSIP: 26872NAD1<br>LEI: 5493000GJYE7GAQCUC61 | Long             | LON              | CORP              | US        |     99250 | PA      | $99018.75     | 0.29%             | 2031-08-04      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                     | EQT Corp                                                                        | CUSIP: 26884LAY5<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77752.30     | 0.23%             | 2029-04-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| EMERALD X INC                                | Emerald X Inc2025 Term Loan B1                                                  | CUSIP: 29088UAH0<br>LEI: 549300YQCBSQUCZ74696 | Long             | LON              | CORP              | US        |    119079 | PA      | $119526.02    | 0.35%             | 2032-01-30      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC               | Enterprise Fleet Financing 2022-4 LLC                                           | CUSIP: 29374GAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     22121 | PA      | $22188.38     | 0.06%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Foundation Building Materials Inc            | Foundation Building Materials Inc 2024 TERM LOAN B2                             | CUSIP: 35039KAD8<br>LEI: 549300ZVE6MONHB01I28 | Long             | LON              | CORP              | US        |     98750 | PA      | $99021.56     | 0.29%             | 2031-01-29      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| H.B. FULLER CO                               | HB Fuller Co                                                                    | CUSIP: 40410KAA3<br>LEI: JSMX3Z5FOYM8V0Q52357 | Long             | DBT              | CORP              | US        |    200000 | PA      | $194241.80    | 0.57%             | 2028-10-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                            | Iron Mountain Inc                                                               | CUSIP: 46284VAP6<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |    100000 | PA      | $103005.90    | 0.30%             | 2029-02-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| JONES DESLAURIERS INSURA                     | Jones Deslauriers Insurance Management Inc                                      | CUSIP: 48020RAB1<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |    175000 | PA      | $185096.47    | 0.54%             | 2030-03-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| LCM INVESTMENTS HOLDINGS                     | LCM Investments Holdings II LLC                                                 | CUSIP: 50190EAA2<br>LEI: 549300P5V78NNQTG4428 | Long             | DBT              | CORP              | US        |    250000 | PA      | $245504.20    | 0.71%             | 2029-05-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| MGM RESORTS INTL                             | MGM Resorts International                                                       | CUSIP: 552953CK5<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |    225000 | PA      | $229805.78    | 0.67%             | 2029-09-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| MIWD HLDCO II/MIWD FIN                       | MIWD Holdco II LLC / MIWD Finance Corp                                          | CUSIP: 55337PAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $245759.63    | 0.72%             | 2030-02-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| MACQUARIE AIRFINANCE HLD                     | Macquarie Airfinance Holdings Ltd                                               | CUSIP: 55609NAB4<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |    175000 | PA      | $182430.85    | 0.53%             | 2029-03-30      | Fixed         | 8.13%                 | Yes           |                  2 | On Loan: No      |
| NCL CORPORATION LTD                          | NCL Corp Ltd                                                                    | CUSIP: 62886HBA8<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |     24000 | PA      | $24056.93     | 0.07%             | 2026-03-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| NORTHRIVER MIDSTREAM FIN                     | Northriver Midstream Finance LP                                                 | CUSIP: 66679NAA8<br>LEI: 549300SOLNLY3BL6GF18 | Long             | DBT              | CORP              | CA        |     75000 | PA      | $74759.21     | 0.22%             | 2026-02-15      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| ORGANON & CO/ORGANON FOR                     | Organon Finance 1 LLC                                                           | CUSIP: 68622TAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    225000 | PA      | $192798.86    | 0.56%             | 2031-04-30      | Fixed         | 5.13%                 | Yes           |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                     | Outfront Media Capital LLC / Outfront Media Capital Corp                        | CUSIP: 69007TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $123984.60    | 0.36%             | 2027-08-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                     | Performance Food Group Inc                                                      | CUSIP: 69346VAA7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199728.14    | 0.58%             | 2027-10-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                     | Panther BF Aggregator 2 LP / Panther Finance Co Inc                             | CUSIP: 69867DAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    250000 | PA      | $251051.75    | 0.73%             | 2027-05-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Phoenix Newco Inc                            | Phoenix Newco Inc2025 Term Loan B                                               | CUSIP: 71911KAE4<br>LEI: 254900PHGVI5379Z9791 | Long             | LON              | CORP              | US        |    140937 | PA      | $141009.91    | 0.41%             | 2028-11-15      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                            | Post Holdings Inc                                                               | CUSIP: 737446AP9<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    180000 | PA      | $179441.12    | 0.52%             | 2029-12-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| PRECISION DRILLING CORP                      | Precision Drilling Corp                                                         | CUSIP: 740212AM7<br>LEI: 549300WF2OE8T5BP4B84 | Long             | DBT              | CORP              | CA        |    150000 | PA      | $151273.65    | 0.44%             | 2029-01-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| ROCKET SOFTWARE INC                          | Rocket Software Inc                                                             | CUSIP: 77314EAB4<br>LEI: 549300PVG26ISP5X1556 | Long             | DBT              | CORP              | US        |    250000 | PA      | $257388.75    | 0.75%             | 2028-11-28      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| SPX FLOW INC                                 | SPX Flow Inc 2025 Term Loan                                                     | CUSIP: 78470DAW8<br>LEI: 5493003YXEKRBINIEM78 | Long             | LON              | CORP              | US        |     69750 | PA      | $70125.26     | 0.20%             | 2029-04-05      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                              | Sealed Air Corp                                                                 | CUSIP: 81211KBA7<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123981.28    | 0.36%             | 2029-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sedgwick Claims Management Services Inc      | Sedgwick Claims Management Services Inc2023 Term Loan B                         | CUSIP: 81527CAP2<br>LEI: 549300BIN4DWJG5VWF64 | Long             | LON              | CORP              | US        |    148875 | PA      | $149247.19    | 0.43%             | 2031-07-31      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| SENSATA TECH INC                             | Sensata Technologies Inc                                                        | CUSIP: 81728UAA2<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96270.98     | 0.28%             | 2030-02-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                          | Sirius XM Radio Inc                                                             | CUSIP: 82967NBA5<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    125000 | PA      | $124435.81    | 0.36%             | 2027-08-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| STANDARD INDUSTRI INC/NY                     | Standard Industries Inc/NJ                                                      | CUSIP: 853496AG2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95828.02     | 0.28%             | 2030-07-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                        | TENET HEALTHCARE CORP                                                           | CUSIP: 88033GDS6<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    175000 | PA      | $175102.38    | 0.51%             | 2027-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                | TransDigm Inc                                                                   | CUSIP: 893647BU0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    250000 | PA      | $255958.25    | 0.74%             | 2029-03-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| TRIVIUM PACKAGING FIN                        | Trivium Packaging Finance BV                                                    | CUSIP: 89686QAD8<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |    225000 | PA      | $238983.98    | 0.70%             | 2030-07-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| UKG Inc                                      | UKG Inc 2024 Term Loan B                                                        | CUSIP: 89841EAB1<br>LEI: 529900FKHWSTQ1GXK240 | Long             | LON              | CORP              | US        |     99000 | PA      | $98917.83     | 0.29%             | 2031-02-10      | Floating      | 6.81%                 | No            |                  2 | On Loan: No      |
| Axalta Coating Systems US Holdings Inc       | Axalta Coating Systems US Holdings Inc2024 Term Loan B                          | CUSIP: 90347BAP3<br>LEI: 549300NZ43V4QV4UGN28 | Long             | LON              | CORP              | US        |     84679 | PA      | $84880.83     | 0.25%             | 2029-12-20      | Floating      | 6.05%                 | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL                     | United Shore Financial Services LLC                                             | CUSIP: 91153LAA5<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149836.55    | 0.44%             | 2025-11-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Univision Communications Inc                 | Univision Communications Inc. 2022 First Lien Term Loan B                       | CUSIP: 914908BD9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | LON              | CORP              | US        |     97000 | PA      | $96903.00     | 0.28%             | 2029-06-24      | Floating      | 8.55%                 | No            |                  2 | On Loan: No      |
| VIAVI SOLUTIONS INC                          | Viavi Solutions Inc                                                             | CUSIP: 925550AF2<br>LEI: 5493006K3E3N1QOBF092 | Long             | DBT              | CORP              | US        |     50000 | PA      | $46592.98     | 0.14%             | 2029-10-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                     | Vistra Operations Co LLC                                                        | CUSIP: 92840VAB8<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    225000 | PA      | $225091.13    | 0.66%             | 2027-02-15      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| VIZIENT INC                                  | Vizient Inc2024 Term Loan B                                                     | CUSIP: 92855LAR7<br>LEI: 5493007V6T3HZ7777P70 | Long             | LON              | CORP              | US        |     92682 | PA      | $92797.67     | 0.27%             | 2031-08-01      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                       | WESCO Distribution Inc                                                          | CUSIP: 95081QAQ7<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    175000 | PA      | $180175.98    | 0.52%             | 2029-03-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| WYNDHAM HOTELS & RESORTS                     | Wyndham Hotels & Resorts Inc                                                    | CUSIP: 98311AAB1<br>LEI: 549300FE3MQ4RVXXC673 | Long             | DBT              | CORP              | US        |    125000 | PA      | $122039.08    | 0.36%             | 2028-08-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| BEACH ACQUISITION BIDCO LLC                  | BEACH ACQUISITION BIDCO LLC USD TERM LOAN B                                     | CUSIP: 000000000<br>LEI: 254900F2FNX3GBTB6202 | Long             | LON              | CORP              | US        |    100000 | PA      | $100583.00    | 0.29%             | 2032-06-25      | Floating      | 7.81%                 | No            |                  2 | On Loan: No      |
| ADIENT GLOBAL HOLDINGS                       | Adient Global Holdings Ltd                                                      | CUSIP: 00687YAB1<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |    125000 | PA      | $128557.38    | 0.37%             | 2028-04-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| ARDONAGH FINCO LTD                           | Ardonagh Finco Ltd                                                              | CUSIP: 039853AA4<br>LEI: 254900D2T84O1K03BA28 | Long             | DBT              | CORP              | JE        |    225000 | PA      | $235453.95    | 0.69%             | 2031-02-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| ASHLAND INC                                  | Ashland LLC                                                                     | CUSIP: 04433LAA0<br>LEI: 529900E4L9R04SB8HB11 | Long             | DBT              | CORP              | US        |    150000 | PA      | $133795.17    | 0.39%             | 2031-09-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| STS Operating Inc                            | STS Operating Inc 2024 Term Loan B                                              | CUSIP: 12508KAJ6<br>LEI: 549300HW5C2VGPZCHL57 | Long             | LON              | CORP              | US        |     98750 | PA      | $97855.33     | 0.28%             | 2031-03-25      | Floating      | 8.42%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                     | CHS/Community Health Systems Inc                                                | CUSIP: 12543DBM1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    100000 | PA      | $89632.50     | 0.26%             | 2030-05-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| CP ATLAS BUYER INC                           | CP Atlas Buyer Inc                                                              | CUSIP: 12597YAC3<br>LEI: 2549006ZZ07G0NDDCR36 | Long             | DBT              | CORP              | US        |    175000 | PA      | $180565.00    | 0.53%             | 2030-07-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                     | Celanese US Holdings LLC                                                        | CUSIP: 15089QAZ7<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    275000 | PA      | $277480.23    | 0.81%             | 2030-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                     | Clarios Global LP / Clarios US Finance Co                                       | CUSIP: 18060TAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    125000 | PA      | $127790.00    | 0.37%             | 2028-05-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| SkyMiles IP Ltd                              | Delta Air Lines, Inc. 2020 1st Lien Term Loan B                                 | CUSIP: 24736CBS2<br>LEI: 2549008L7P4I8VB90936 | Long             | LON              | CORP              | KY        |     68991 | PA      | $69152.15     | 0.20%             | 2027-10-20      | Floating      | 8.08%                 | No            |                  2 | On Loan: No      |
| Fleet US Bidco Inc                           | Fleet US Bidco Inc 2024 1st Lien Term Loan B                                    | CUSIP: 33902UAD5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     90731 | PA      | $90731.05     | 0.26%             | 2031-02-21      | Floating      | 6.54%                 | No            |                  2 | On Loan: No      |
| FOUNDATION BUILDING M                        | Foundation Building Materials Inc                                               | CUSIP: 350392AA4<br>LEI: 549300ZVE6MONHB01I28 | Long             | DBT              | CORP              | US        |    175000 | PA      | $176936.38    | 0.51%             | 2029-03-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                         | Garda World Security Corp                                                       | CUSIP: 36485MAM1<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $205750.00    | 0.60%             | 2028-02-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| GRIFOLS SA                                   | Grifols Escrow Issuer SA                                                        | CUSIP: 39843UAA0<br>LEI: 959800HSSNXWRKBK4N60 | Long             | DBT              | CORP              | ES        |    275000 | PA      | $266479.92    | 0.78%             | 2028-10-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| KODIAK GAS SERVICES LLC                      | Kodiak Gas Services LLC                                                         | CUSIP: 50012LAC8<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |    200000 | PA      | $206872.00    | 0.60%             | 2029-02-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| MADISON IAQ LLC                              | Madison IAQ LLC                                                                 | CUSIP: 55760LAB3<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247511.05    | 0.72%             | 2029-06-30      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| MATADOR RESOURCES CO                         | Matador Resources Co                                                            | CUSIP: 576485AF3<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204634.40    | 0.60%             | 2028-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                       | Match Group Inc                                                                 | CUSIP: 57665RAG1<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |    125000 | PA      | $124328.91    | 0.36%             | 2027-12-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| MEDLINE BORROWER/MEDL CO                     | Medline Borrower LP/Medline Co-Issuer Inc                                       | CUSIP: 58506DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $51364.75     | 0.15%             | 2029-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Federated Hermes Government Obligations Fund | Federated Hermes Government Obligations Fund                                    | CUSIP: 608919718<br>LEI: 254900VAJ9169N7JRF45 | Long             | STIV             | RF                | US        |   1118429 | NS      | $1118429.33   | 3.26%             |  |  |  | No            |                  1 | On Loan: No      |
| NCR VOYIX CORP                               | NCR Corp                                                                        | CUSIP: 62886EAY4<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49291.68     | 0.14%             | 2028-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| SPX FLOW INC                                 | Redwood Star Merger Sub Inc                                                     | CUSIP: 758071AA2<br>LEI: 5493003YXEKRBINIEM78 | Long             | DBT              | CORP              | US        |    200000 | PA      | $207231.40    | 0.60%             | 2030-04-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| SS&C Technologies Inc                        | SS&C Technologies Inc                                                           | CUSIP: 78466CAC0<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |    335000 | PA      | $335107.20    | 0.98%             | 2027-09-30      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| SEAGATE DATA STOR                            | Seagate Data Storage Technology Pte Ltd                                         | CUSIP: 81180LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |     25000 | PA      | $25300.00     | 0.07%             | 2030-07-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| STATION CASINOS LLC                          | Station Casinos LLC                                                             | CUSIP: 857691AG4<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98563.06     | 0.29%             | 2028-02-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| SUBURBAN PROPANE PARTNRS                     | Suburban Propane Partners LP/Suburban Energy Finance Corp                       | CUSIP: 864486AK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $273597.45    | 0.80%             | 2027-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                     | USA Compression Partners LP / USA Compression Finance Corp                      | CUSIP: 91740PAG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $307522.80    | 0.90%             | 2029-03-15      | Fixed         | 7.13%                 | Yes           |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS LLC                          | SHIFT4 PAYMENTS LLC 2025 TERM LOAN                                              | CUSIP: 000000000<br>LEI: 254900GTEMR7L40VPI74 | Long             | LON              | CORP              | US        |     75000 | PA      | $75594.00     | 0.22%             | 2032-06-30      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                     | American Airlines Inc/AAdvantage Loyalty IP Ltd                                 | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     93750 | PA      | $93821.16     | 0.27%             | 2026-04-20      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| CIENA CORP                                   | Ciena Corp                                                                      | CUSIP: 171779AL5<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94927.47     | 0.28%             | 2030-01-31      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Emrld Borrower LP                            | Emrld Borrower LP Term Loan B                                                   | CUSIP: 26872NAC3<br>LEI: 5493000GJYE7GAQCUC61 | Long             | LON              | CORP              | US        |     54918 | PA      | $54821.04     | 0.16%             | 2030-05-31      | Floating      | 6.45%                 | No            |                  2 | On Loan: No      |
| FILTRATION GROUP CORPORATION                 | Filtration Group Corporation 2025 USD Term Loan                                 | CUSIP: 31732FAX4<br>LEI: 549300ZA0D9WN5ECE978 | Long             | LON              | CORP              | US        |     95880 | PA      | $96259.72     | 0.28%             | 2028-10-21      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| GATES CORPORATION/DE                         | Gates Corp/The                                                                  | CUSIP: 367398AA2<br>LEI: 984500F43C791F4C7894 | Long             | DBT              | CORP              | US        |    200000 | PA      | $207948.60    | 0.61%             | 2029-07-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| HERC HOLDINGS INC                            | Herc Holdings Inc                                                               | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    250000 | PA      | $260188.50    | 0.76%             | 2030-06-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                     | RHP Hotel Properties LP / RHP Finance Corp                                      | CUSIP: 749571AJ4<br>LEI: N/A                  | Long             | DBT              |  | US        |    225000 | PA      | $231579.68    | 0.67%             | 2028-07-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE                     | Rockies Express Pipeline LLC                                                    | CUSIP: 77340RAR8<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |     75000 | PA      | $73794.49     | 0.21%             | 2029-07-15      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                      | Royal Caribbean Cruises Ltd                                                     | CUSIP: 780153BJ0<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    150000 | PA      | $150598.20    | 0.44%             | 2026-08-31      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| SCIENCE APPLICATIONS INT                     | Science Applications International Corp                                         | CUSIP: 808625AA5<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123315.88    | 0.36%             | 2028-04-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| WILLIAM CARTER                               | William Carter Co/The                                                           | CUSIP: 96926JAC1<br>LEI: TGI2A0HXEYNQPU7TYV27 | Long             | DBT              | CORP              | US        |    125000 | PA      | $124748.13    | 0.36%             | 2027-03-15      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| Jones Deslauriers Insurance Management Inc   | Jones Deslauriers Insurance Management Inc2025 Term Loan B                      | CUSIP: 000000000<br>LEI: 549300JQIWNFU00E5424 | Long             | LON              | CORP              | CA        |     98755 | PA      | $98055.80     | 0.29%             | 2030-03-15      | Floating      | 7.06%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                       | Acrisure LLC / Acrisure Finance Inc                                             | CUSIP: 00489LAL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $207218.40    | 0.60%             | 2030-11-06      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| ALLIED UNIVERSAL HOLDCO LLC                  | Allied Universal Holdco LLC 2025 USD Term Loan B                                | CUSIP: 01957TAX5<br>LEI: 98450038B4549046D794 | Long             | LON              | CORP              | US        |    175000 | PA      | $175497.00    | 0.51%             | 2032-08-20      | Floating      | 7.59%                 | No            |                  2 | On Loan: No      |
| BROADSTREET PARTNERS INC                     | BroadStreet Partners Inc                                                        | CUSIP: 11135RAA3<br>LEI: 549300BS9N54G8DD0R75 | Long             | DBT              | CORP              | US        |    325000 | PA      | $323211.95    | 0.94%             | 2029-04-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| CARNIVAL CORP                                | Carnival Corp                                                                   | CUSIP: 143658BY7<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    150000 | PA      | $153780.30    | 0.45%             | 2030-03-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| ADIENT GLOBAL HOLDINGS                       | Adient Global Holdings Ltd                                                      | CUSIP: 00687YAC9<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |     75000 | PA      | $78978.53     | 0.23%             | 2031-04-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Ally Financial Inc                           | Ally Financial Inc                                                              | CUSIP: 02005NBF6<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100153.56    | 0.29%             | 2025-11-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ABC SUPPLY CO INC                            | American Builders & Contractors Supply Co Inc                                   | CUSIP: 024747AF4<br>LEI: 549300H5GQ4C1BEKG397 | Long             | DBT              | CORP              | US        |    150000 | PA      | $146743.83    | 0.43%             | 2028-01-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| AMWINS GROUP INC                             | AmWINS Group Inc                                                                | CUSIP: 031921AC3<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |    275000 | PA      | $281843.93    | 0.82%             | 2029-02-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Aramark Services Inc                         | Aramark Services Inc                                                            | CUSIP: 038522AQ1<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |    200000 | PA      | $198530.64    | 0.58%             | 2028-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                       | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPBR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $100102.60    | 0.29%             | 2026-05-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                       | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCT8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    375000 | PA      | $388011.17    | 1.13%             | 2031-03-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| CNX MIDSTREAM PART LP                        | CNX Midstream Partners LP                                                       | CUSIP: 12654AAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $284574.69    | 0.83%             | 2030-04-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| CAPSTONE BORROWER INC                        | Capstone Borrower Inc                                                           | CUSIP: 140944AA7<br>LEI: 254900YSP2BAI3YKIX08 | Long             | DBT              | CORP              | US        |    275000 | PA      | $287944.80    | 0.84%             | 2030-06-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| CCM MERGER INC                               | CCM Merger Inc                                                                  | CUSIP: 14985VAE1<br>LEI: 549300P77RSBKKFME089 | Long             | DBT              | CORP              | US        |    275000 | PA      | $275262.63    | 0.80%             | 2026-05-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                     | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175CM4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $50749.63     | 0.15%             | 2026-11-10      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC         | Charter Communications Operating LLC2024 Term Loan B5                           | CUSIP: 16117LCE7<br>LEI: 549300TPZNMN50BJ3745 | Long             | LON              | CORP              | US        |     99500 | PA      | $99574.63     | 0.29%             | 2031-12-15      | Floating      | 6.54%                 | No            |                  2 | On Loan: No      |
| Churchill Downs Inc                          | Churchill Downs Inc                                                             | CUSIP: 171484AG3<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199526.04    | 0.58%             | 2027-04-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC                        | Civitas Resources Inc                                                           | CUSIP: 17888HAA1<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103851.70    | 0.30%             | 2028-07-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| COEUR MINING INC                             | Coeur Mining Inc                                                                | CUSIP: 192108BC1<br>LEI: 5493003AVK173D48DR70 | Long             | DBT              | CORP              | US        |    275000 | PA      | $267858.77    | 0.78%             | 2029-02-15      | Fixed         | 5.13%                 | Yes           |                  2 | On Loan: No      |
| COMSTOCK RESOURCES INC                       | Comstock Resources Inc                                                          | CUSIP: 205768AU8<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |    300000 | PA      | $295292.43    | 0.86%             | 2029-03-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| COREWEAVE INC                                | CoreWeave Inc                                                                   | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200717.00    | 0.58%             | 2030-06-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| CROWN AMERICAS LLC                           | Crown Americas LLC                                                              | CUSIP: 228180AB1<br>LEI: RPPGGRL1J75WGF2DFO04 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75987.15     | 0.22%             | 2030-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DT MIDSTREAM INC                             | DT Midstream Inc                                                                | CUSIP: 23345MAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $121484.75    | 0.35%             | 2029-06-15      | Fixed         | 4.13%                 | Yes           |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                     | Olympus Water US Holding Corp                                                   | CUSIP: 25259KAA8<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    275000 | PA      | $288297.08    | 0.84%             | 2028-11-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| ELASTIC NV                                   | Elastic NV                                                                      | CUSIP: 28415LAA1<br>LEI: 2549003I48WHHH937I59 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $192192.52    | 0.56%             | 2029-07-15      | Fixed         | 4.13%                 | Yes           |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC                       | Energizer Holdings Inc                                                          | CUSIP: 29272WAF6<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |    250000 | PA      | $252182.50    | 0.73%             | 2027-12-31      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| GYP Holdings III Corp                        | GYP Holdings III Corp 2024 Term Loan                                            | CUSIP: 36249VAK2<br>LEI: 549300055I1KJWZH9690 | Long             | LON              | CORP              | US        |    123125 | PA      | $122971.09    | 0.36%             | 2030-05-12      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN                     | Graphic Packaging International LLC                                             | CUSIP: 38869AAA5<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |    275000 | PA      | $271767.98    | 0.79%             | 2027-07-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| HANESBRANDS INC                              | Hanesbrands Inc                                                                 | CUSIP: 410345AQ5<br>LEI: GX5LWVWZLL5S4W1L2F20 | Long             | DBT              | CORP              | US        |    125000 | PA      | $132887.38    | 0.39%             | 2031-02-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| HEALTHEQUITY INC                             | HealthEquity Inc                                                                | CUSIP: 42226AAA5<br>LEI: 529900LRJU1RAFQHM467 | Long             | DBT              | CORP              | US        |    150000 | PA      | $145003.25    | 0.42%             | 2029-10-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                     | Hess Midstream Operations LP                                                    | CUSIP: 428102AG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     65000 | PA      | $67207.40     | 0.20%             | 2029-06-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                     | Hess Midstream Operations LP                                                    | CUSIP: 428102AH0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $101676.30    | 0.30%             | 2028-03-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| HUB International Ltd                        | HUB International Ltd2025 Term Loan B                                           | CUSIP: 44332EAZ9<br>LEI: 549300JQT6ATTUNS5E06 | Long             | LON              | CORP              | US        |    169011 | PA      | $169293.04    | 0.49%             | 2030-06-20      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                        | HUB International Ltd                                                           | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104597.40    | 0.30%             | 2030-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Iron Mountain Inc                            | Iron Mountain Inc                                                               | CUSIP: 46284VAC5<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |    100000 | PA      | $99361.31     | 0.29%             | 2027-09-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| KnowBe4 Inc                                  | KnowBe4 Inc 2025 Term Loan                                                      | CUSIP: 49925TAD7<br>LEI: 64883ZJ0RS5039H4PN24 | Long             | LON              | CORP              | US        |    100000 | PA      | $100250.00    | 0.29%             | 2032-07-23      | Floating      | 8.06%                 | No            |                  2 | On Loan: No      |
| MAXAM PRILL SARL                             | Maxam Prill Sarl                                                                | CUSIP: 57779MAA8<br>LEI: 984500C4C5B820A6B691 | Long             | DBT              | CORP              | LU        |    225000 | PA      | $219469.18    | 0.64%             | 2030-07-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                          | Medline Borrower LP 2025 Term Loan B                                            | CUSIP: 58503UAH6<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |    246577 | PA      | $246552.23    | 0.72%             | 2028-10-23      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| Charter Next Generation Inc                  | Charter Next Generation Inc2024 Term Loan B1                                    | CUSIP: 16125TAM4<br>LEI: 549300KRNU8RNVGYXG75 | Long             | LON              | CORP              | US        |    203292 | PA      | $204083.09    | 0.59%             | 2030-11-29      | Floating      | 7.11%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                         | Cleveland-Cliffs Inc                                                            | CUSIP: 185899AN1<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    225000 | PA      | $227507.63    | 0.66%             | 2030-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| NCL CORPORATION LTD                          | NCL Corp Ltd                                                                    | CUSIP: 62886HBP5<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    275000 | PA      | $279070.28    | 0.81%             | 2030-03-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| NRG Energy Inc                               | NRG Energy Inc                                                                  | CUSIP: 629377CH3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199406.70    | 0.58%             | 2029-06-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| AHP HEALTH PARTN                             | AHP Health Partners Inc                                                         | CUSIP: 00150LAB7<br>LEI: 549300QMM8MQ6SM5KX05 | Long             | DBT              | CORP              | US        |    250000 | PA      | $248234.90    | 0.72%             | 2029-07-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| ACADEMY LTD                                  | Academy Ltd                                                                     | CUSIP: 00401YAA8<br>LEI: 549300BN53IR80C35Z14 | Long             | DBT              | CORP              | US        |    175000 | PA      | $175183.58    | 0.51%             | 2027-11-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                       | NextEra Energy Operating Partners LP                                            | CUSIP: 65342QAM4<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102133.50    | 0.30%             | 2029-01-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                     | 1011778 BC ULC / New Red Finance Inc                                            | CUSIP: 68245XAR0<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    250000 | PA      | $256065.00    | 0.75%             | 2029-06-15      | Fixed         | 6.13%                 | Yes           |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                     | Outfront Media Capital LLC / Outfront Media Capital Corp                        | CUSIP: 69007TAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $119279.88    | 0.35%             | 2030-03-15      | Fixed         | 4.63%                 | Yes           |                  2 | On Loan: No      |
| QUARTZ ACQUIRECO LLC                         | Quartz Acquireco LLC2025 Term Loan B                                            | CUSIP: 74773KAE5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     98250 | PA      | $97963.11     | 0.29%             | 2030-06-28      | Floating      | 6.55%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                     | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                  | CUSIP: 01883LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $275659.73    | 0.80%             | 2027-10-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| ALLIED UNIVERSAL HOLDCO                      | Allied Universal Holdco LLC                                                     | CUSIP: 019576AD9<br>LEI: 98450038B4549046D794 | Long             | DBT              | CORP              | US        |    100000 | PA      | $105087.50    | 0.31%             | 2031-02-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                     | Quicken Loans LLC / Quicken Loans Co-Issuer Inc                                 | CUSIP: 74841CAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $47668.00     | 0.14%             | 2029-03-01      | Fixed         | 3.63%                 | Yes           |                  2 | On Loan: No      |
| SM Energy Co                                 | SM Energy Co                                                                    | CUSIP: 78454LAN0<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    175000 | PA      | $174684.44    | 0.51%             | 2026-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SNF GROUP SACA                               | SPCM SA                                                                         | CUSIP: 7846ELAD9<br>LEI: 969500F7036FEDYPRV54 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $194209.92    | 0.57%             | 2027-03-15      | Fixed         | 3.13%                 | Yes           |                  2 | On Loan: No      |
| SeaWorld Parks & Entertainment Inc           | SeaWorld Parks & Entertainment Inc2024 Term Loan B3                             | CUSIP: 78488CAL4<br>LEI: 549300UZV72O3371JJ53 | Long             | LON              | CORP              | US        |    123441 | PA      | $123183.89    | 0.36%             | 2031-12-04      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL                             | Allied Universal Holdco LLC / Allied Universal Finance Corp                     | CUSIP: 019576AF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $25746.93     | 0.07%             | 2030-06-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| AMNEAL PHARMACEUTICALS LLC                   | AMNEAL PHARMACEUTICALS LLC 2025 TERM LOAN B                                     | CUSIP: 03167DAR5<br>LEI: 54930037VIXE7LRZ1M66 | Long             | LON              | CORP              | US        |    100000 | PA      | $100500.00    | 0.29%             | 2032-08-01      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC                      | Scientific Games International Inc                                              | CUSIP: 80874YBE9<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    225000 | PA      | $230827.73    | 0.67%             | 2029-11-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| TARGA RESOURCES PARTNERS                     | Targa Resources Partners LP / Targa Resources Partners Finance Corp             | CUSIP: 87612BBQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $76430.13     | 0.22%             | 2030-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GROUP INC                     | Cloud Software Group Inc2025 Term Loan B (2032)                                 | CUSIP: 88632NBL3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |    159901 | PA      | $160128.46    | 0.47%             | 2032-08-13      | Floating      | 7.48%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                | TransDigm Inc                                                                   | CUSIP: 893647BS5<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    175000 | PA      | $181474.13    | 0.53%             | 2030-12-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                     | Antero Midstream Partners LP / Antero Midstream Finance Corp                    | CUSIP: 03690AAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $249939.13    | 0.73%             | 2027-03-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| ARCHROCK PARTNERS LP/FIN                     | Archrock Partners LP / Archrock Partners Finance Corp                           | CUSIP: 03959KAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $275250.53    | 0.80%             | 2027-04-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| CRC Insurance Group LLC                      | TIH Insurance Holdings LLC2024 Term Loan B                                      | CUSIP: 89788VAG7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     91935 | PA      | $91935.48     | 0.27%             | 2031-05-06      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                                 | US Foods Inc                                                                    | CUSIP: 90290MAG6<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |    325000 | PA      | $334849.78    | 0.97%             | 2028-09-15      | Fixed         | 6.88%                 | Yes           |                  2 | 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        |    200000 | PA      | $199517.74    | 0.58%             | 2029-06-30      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| AVANTOR FUNDING INC                          | Avantor Funding Inc                                                             | CUSIP: 05352TAB5<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |     75000 | PA      | $71261.26     | 0.21%             | 2029-11-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                     | Univision Communications Inc                                                    | CUSIP: 914906AY8<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    175000 | PA      | $181637.23    | 0.53%             | 2028-08-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| WHIRLPOOL CORP                               | Whirlpool Corp                                                                  | CUSIP: 963320BD7<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |    250000 | PA      | $252779.00    | 0.74%             | 2030-06-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                         | Cleveland-Cliffs Inc                                                            | CUSIP: 185899AQ4<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76172.93     | 0.22%             | 2029-11-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                         | Garda World Security Corp                                                       | CUSIP: 36485MAL3<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $99180.21     | 0.29%             | 2029-06-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                     | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                            | CUSIP: 983133AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $99808.94     | 0.29%             | 2029-10-01      | Fixed         | 5.13%                 | Yes           |                  2 | On Loan: No      |
| XHR LP                                       | XHR LP                                                                          | CUSIP: 98372MAE5<br>LEI: 549300M88BPT83ZL2164 | Long             | DBT              |  | US        |    225000 | PA      | $230945.40    | 0.67%             | 2030-05-15      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| GO DADDY OPCO/FINCO                          | Go Daddy Operating Co LLC / GD Finance Co Inc                                   | CUSIP: 38016LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $49800.79     | 0.14%             | 2027-12-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| LAMAR MEDIA CORP                             | Lamar Media Corp                                                                | CUSIP: 513075BT7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $47532.08     | 0.14%             | 2030-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                       | XPLR Infrastructure Operating Partners LP                                       | CUSIP: 98380MAA3<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104573.30    | 0.30%             | 2031-01-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Opal US LLC                                  | OPAL BIDCO SAS USD TERM LOAN B                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    100000 | PA      | $100500.00    | 0.29%             | 2032-04-28      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| MIDWEST GMNG BOR/MWG FIN                     | Midwest Gaming Borrower LLC                                                     | CUSIP: 59833DAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $266039.84    | 0.77%             | 2029-05-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| NABORS INDUSTRIES INC                        | Nabors Industries Inc                                                           | CUSIP: 62957HAJ4<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |    225000 | PA      | $228750.08    | 0.67%             | 2027-05-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| OPEN TEXT CORP                               | Open Text Corp                                                                  | CUSIP: 683715AF3<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $103779.80    | 0.30%             | 2027-12-01      | Fixed         | 6.90%                 | Yes           |                  2 | On Loan: No      |
| PRESTIGE BRANDS INC                          | Prestige Brands Inc                                                             | CUSIP: 74112BAL9<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24839.22     | 0.07%             | 2028-01-15      | Fixed         | 5.13%                 | Yes           |                  2 | On Loan: No      |
| BALDWIN INSUR GRP/FIN                        | Baldwin Insurance Group Holdings LLC / Baldwin Insurance Group Holdings Finance | CUSIP: 05825XAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    225000 | PA      | $233514.68    | 0.68%             | 2031-05-15      | Fixed         | 7.13%                 | Yes           |                  2 | On Loan: No      |
| BELLRING BRANDS INC                          | BellRing Brands Inc                                                             | CUSIP: 07831CAA1<br>LEI: 549300S3BOK5CMTS8054 | Long             | DBT              | CORP              | US        |    175000 | PA      | $180997.43    | 0.53%             | 2030-03-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| TGNR INTERMEDIATE HOLDIN                     | Rockcliff Energy II LLC                                                         | CUSIP: 77289KAA3<br>LEI: 5493007AZNVKZ5HEMT23 | Long             | DBT              | CORP              | US        |    250000 | PA      | $244061.30    | 0.71%             | 2029-10-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| RYAN SPECIALTY GROUP                         | Ryan Specialty Group LLC                                                        | CUSIP: 78351MAA0<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |    125000 | PA      | $120812.81    | 0.35%             | 2030-02-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| COHERENT CORP                                | II-VI Inc                                                                       | CUSIP: 902104AC2<br>LEI: 549300O5C25A0MMHHU33 | Long             | DBT              | CORP              | US        |    150000 | PA      | $147413.13    | 0.43%             | 2029-12-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| WHITE CAP BUYER LLC                          | White Cap Buyer LLC                                                             | CUSIP: 96350RAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $249722.78    | 0.73%             | 2028-10-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Ardonagh Group Finco Pty Ltd                 | Ardonagh Group Finco Pty Ltd2024 USD Term Loan B                                | CUSIP: 000000000<br>LEI: 254900YP2E642AGM4G32 | Long             | LON              | CORP              | AU        |    149625 | PA      | $149345.20    | 0.43%             | 2031-02-15      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| BELRON UK FINANCE PLC                        | Belron UK Finance PLC                                                           | CUSIP: 080782AA3<br>LEI: 9845006BC9D1A77B8178 | Long             | DBT              | CORP              | GB        |    250000 | PA      | $253189.75    | 0.74%             | 2029-10-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| BOYD GAMING CORP                             | Boyd Gaming Corp                                                                | CUSIP: 103304BU4<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |    150000 | PA      | $148637.00    | 0.43%             | 2027-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BRINK'S CO/THE                               | Brink's Co/The                                                                  | CUSIP: 109696AC8<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |    170000 | PA      | $174826.81    | 0.51%             | 2029-06-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| CLEARWATER PAPER CORP                        | Clearwater Paper Corp                                                           | CUSIP: 18538RAJ2<br>LEI: 549300HCVV19GXN4P292 | Long             | DBT              | CORP              | US        |    275000 | PA      | $260295.75    | 0.76%             | 2028-08-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| EDGEWELL PERSONAL CARE                       | Edgewell Personal Care Co                                                       | CUSIP: 28035QAA0<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | DBT              | CORP              | US        |    225000 | PA      | $223897.61    | 0.65%             | 2028-06-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| ENTEGRIS INC                                 | Entegris Inc                                                                    | CUSIP: 29362UAC8<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |    150000 | PA      | $145846.62    | 0.42%             | 2028-04-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| FORTRESS INTERMEDIATE                        | Fortress Intermediate 3 Inc                                                     | CUSIP: 34966MAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $184052.58    | 0.54%             | 2031-06-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| GROUP 1 AUTOMOTIVE INC                       | Group 1 Automotive Inc                                                          | CUSIP: 398905AQ2<br>LEI: 549300US8QAZJLWYAF63 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102461.70    | 0.30%             | 2030-01-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| ILLUMINATE BUYER/HLDG                        | Illuminate Buyer LLC / Illuminate Holdings IV Inc                               | CUSIP: 45232TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    225000 | PA      | $225079.43    | 0.66%             | 2028-07-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| INTERFACE INC                                | Interface Inc                                                                   | CUSIP: 458665AS5<br>LEI: 549300VXZWQOIDFPU355 | Long             | DBT              | CORP              | US        |    125000 | PA      | $124438.75    | 0.36%             | 2028-12-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                       | NextEra Energy Operating Partners LP                                            | CUSIP: 65342QAB8<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |     65000 | PA      | $63751.29     | 0.19%             | 2027-09-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| OWENS-BROCKWAY                               | Owens-Brockway Glass Container Inc                                              | CUSIP: 69073TAT0<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |    225000 | PA      | $224824.14    | 0.65%             | 2027-05-13      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| Precision Drilling Corp                      | Precision Drilling Corp                                                         | CUSIP: 740212AL9<br>LEI: 549300WF2OE8T5BP4B84 | Long             | DBT              | CORP              | CA        |     96000 | PA      | $95957.76     | 0.28%             | 2026-01-15      | Fixed         | 7.13%                 | Yes           |                  2 | On Loan: No      |
| ROCKET COS INC                               | Rocket Cos Inc                                                                  | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $102895.00    | 0.30%             | 2030-08-01      | Fixed         | 6.13%                 | Yes           |                  2 | On Loan: No      |
| SEAGATE DATA STORAGE TECHNOLOG               | SEAGATE DATA STOR                                                               | CUSIP: 81180LAM7<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |    100000 | PA      | $106219.50    | 0.31%             | 2029-12-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| TERRAFORM POWER OPERATIN                     | TerraForm Power Operating LLC                                                   | CUSIP: 88104LAE3<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |    175000 | PA      | $173507.74    | 0.51%             | 2028-01-31      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                       | Picard Midco Inc                                                                | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    125000 | PA      | $126374.63    | 0.37%             | 2029-03-31      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| TRANSALTA CORP                               | TransAlta Corp                                                                  | CUSIP: 89346DAH0<br>LEI: GJZNVO2UY6DNFNIYH321 | Long             | DBT              | CORP              | CA        |    225000 | PA      | $233580.15    | 0.68%             | 2029-11-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                      | United Rentals North America Inc                                                | CUSIP: 911365BF0<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    275000 | PA      | $274798.12    | 0.80%             | 2027-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL                     | United Wholesale Mortgage LLC                                                   | CUSIP: 913229AC4<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |    175000 | PA      | $174797.89    | 0.51%             | 2027-06-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| VC GB Holdings I Corp                        | Illuminate Merger Sub Corp. 1st Lien Term Loan                                  | CUSIP: 91823JAC6<br>LEI: 549300K4B21TSY42LF51 | Long             | LON              | CORP              | US        |     98721 | PA      | $98505.05     | 0.29%             | 2028-07-21      | Floating      | 8.06%                 | No            |                  2 | On Loan: No      |
| VS BUYER LLC                                 | VS Buyer LLC2025 Term Loan B                                                    | CUSIP: 91834WAG5<br>LEI: 254900G5QLDMHSCYJK25 | Long             | LON              | CORP              | US        |    145340 | PA      | $145219.36    | 0.42%             | 2031-04-12      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| WR Grace & Co-Conn                           | WR Grace Holdings LLC2025 Term Loan B                                           | CUSIP: 92943HAD1<br>LEI: 549300WNOVFRGYOAEB12 | Long             | LON              | CORP              | US        |    100000 | PA      | $99875.00     | 0.29%             | 2032-08-19      | Floating      | 7.35%                 | No            |                  2 | On Loan: No      |
| 1261229 BC Ltd                               | 1261229 BC Ltd2025 Term Loan B                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |    250000 | PA      | $246320.00    | 0.72%             | 2030-10-08      | Floating      | 10.57%                | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-23

**Name of Applicant:** Federated Hermes ETF Trust

**Signature:** Stephen Van Meter

**Name of Signer:** Federated Hermes ETF Trust

**Title:** Chief Compliance Officer