# EDGAR Filing Document

**Accession Number:** 0000883622
**File Stem:** 0000940400-26-008181
**Filing Date:** 2026-2
**Character Count:** 174559
**Document Hash:** 05530bebed4561fb9c7dba26457f08fe
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-008181.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0000940400-26-008181

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** IVY FUNDS
- **CENTRAL INDEX KEY:** 0000883622

**ORGANIZATION NAME:**
- **EIN:** 481112076
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06569
- **FILM NUMBER:** 26683407

**BUSINESS ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354
- **BUSINESS PHONE:** 18005231918

**MAIL ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** IVY FUNDS INC
- **DATE OF NAME CHANGE:** 20030630

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** W&R FUNDS INC
- **DATE OF NAME CHANGE:** 20000829

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WADDELL & REED FUNDS INC
- **DATE OF NAME CHANGE:** 19920717

## Series and Classes Contracts Data

### Nomura High Income Fund (Series ID: S000006289)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000017281 | Class A             | WHIAX           |
| C000017283 | Class C             | WRHIX           |
| C000017284 | Class Y             | WHIYX           |
| C000045546 | Institutional Class | IVHIX           |
| C000122150 | Class R             | IYHIX           |
| C000146681 | Class R6            | IHIFX           |

## Nport-Ex

## Schedule of investments
Nomura High Income Fund

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | &nbsp;&nbsp;**Value (US $)** |
| &nbsp;&nbsp;**Collateralized Loan Obligations — 6.76%** | &nbsp;&nbsp;**Collateralized Loan Obligations — 6.76%** | &nbsp;&nbsp;**Collateralized Loan Obligations — 6.76%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720 East CLO<br> Series 2022-1A ER 144A 9.784% (TSFR03M + 5.90%, Floor 5.90%) 1/20/38 #, • | 2800000 | &nbsp;&nbsp;$2820555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ABPCI Direct Lending Fund<br> CLO II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-1A DRR 144A 8.034% (TSFR03M + 4.15%, Floor 4.15%) 7/20/37 #, • | 1000000 | &nbsp;&nbsp;&nbsp; 998623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-1A ERR 144A 11.384% (TSFR03M + 7.50%, Floor 7.50%) 7/20/37 #, • | 2000000 | &nbsp;&nbsp;&nbsp; 2015868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AGL CLO 3<br> Series 2020-3A ER 144A 9.568% (TSFR03M + 5.25%, Floor 5.25%) 4/15/38 #, • | 2500000 | &nbsp;&nbsp;&nbsp; 2334620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AGL CLO 32<br> Series 2024-32A E 144A 9.62% (TSFR03M + 5.75%, Floor 5.75%) 7/21/37 #, • | 2000000 | &nbsp;&nbsp;&nbsp; 1986470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AIMCO CLO 15<br> Series 2021-15A ER 144A 8.482% (TSFR03M + 4.60%, Floor 4.60%) 4/17/38 #, • | 2000000 | &nbsp;&nbsp;&nbsp; 1969262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AIMCO CLO 18<br> Series 2022-18A ER 144A 9.384% (TSFR03M + 5.50%, Floor 5.50%) 7/20/37 #, • | &nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp; 846736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AIMCO CLO 19<br> Series 2024-19A E 144A 9.325% (TSFR03M + 5.00%, Floor 5.00%) 10/20/37 #, • | 2100000 | &nbsp;&nbsp;&nbsp; 2100107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AMMC CLO 23<br> Series 2020-23A D2R3 144A 8.782% (TSFR03M + 4.90%, Floor 4.90%) 7/17/38 #, • | 2000000 | &nbsp;&nbsp;&nbsp; 2027050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARES Loan Funding III<br> Series 2022-ALF3A ER 144A 9.958% (TSFR03M + 6.10%, Floor 6.10%) 7/25/36 #, • | 1000000 | &nbsp;&nbsp;&nbsp; 989859 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | &nbsp;&nbsp;**Value (US $)** |
| &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** | &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** | &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Atlas Senior Loan Fund XX<br> Series 2022-20A D1R 144A 7.734% (TSFR03M + 3.85%, Floor 3.85%) 10/19/37 #, • | 1750000 | &nbsp;&nbsp;$1753640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bain Capital Credit CLO<br> Series 2017-2A ER3 144A 11.198% (TSFR03M + 7.34%, Floor 7.34%) 7/25/37 #, • | 2000000 | &nbsp;&nbsp;&nbsp; 1974482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ballyrock CLO 18<br> Series 2021-18A DR 144A 9.655% (TSFR03M + 5.75%, Floor 5.75%) 4/15/38 #, • | 3000000 | &nbsp;&nbsp;&nbsp; 2908764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ballyrock CLO 25<br> Series 2023-25A DR 144A 8.658% (TSFR03M + 4.80%, Floor 4.80%) 1/25/38 #, • | 3000000 | &nbsp;&nbsp;&nbsp; 2960184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Barings CLO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-2A ER 144A 10.805% (TSFR03M + 6.90%, Floor 6.90%) 7/15/36 #, • | 1800000 | &nbsp;&nbsp;&nbsp; 1790050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2A E 144A 9.805% (TSFR03M + 5.90%, Floor 5.90%) 7/15/39 #, • | 2100000 | &nbsp;&nbsp;&nbsp; 2096258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-5A D2 144A 8.005% (TSFR03M + 4.10%, Floor 4.10%) 7/15/38 #, • | 2500000 | &nbsp;&nbsp;&nbsp; 2504437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BBAM US CLO III Series 2023-3A DR 144A 9.142% (TSFR03M + 5.20%, Floor 5.20%) 10/15/38 #, • | 3550000 | &nbsp;&nbsp;&nbsp; 3497194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bear Mountain Park CLO<br> Series 2022-1A ER 144A 9.855% (TSFR03M + 5.95%, Floor 5.95%) 7/15/37 #, • | 1500000 | &nbsp;&nbsp;&nbsp; 1482972 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Benefit Street Partners CLO Series 2015-6BR ER 144A 8.634% (TSFR03M + 4.75%, Floor 4.75%) 4/20/38 #, • | 2185000 | &nbsp;&nbsp;&nbsp; 2113760 |

---

NQ- IV009 [1225] 0226 (5191660) 1

------

Nomura High Income Fund

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | &nbsp;&nbsp;**Value (US $)** |
| &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** | &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** | &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Benefit Street Partners CLO XII-B Series 2017-12BRA E 144A 10.155% (TSFR03M + 6.25%, Floor 6.25%) 10/15/37 #, • | 2500000 | &nbsp;&nbsp;$2502065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookhaven Park CLO Series 2024-1A E 144A 10.384% (TSFR03M + 6.50%, Floor 6.50%) 4/19/37 #, • | 3500000 | &nbsp;&nbsp;&nbsp; 3476714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carlyle US CLO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A E 144A 10.825% (TSFR03M + 6.92%, Floor 6.92%) 4/15/37 #, • | 3100000 | &nbsp;&nbsp;&nbsp; 3104538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-5A E 144A 9.508% (TSFR03M + 5.65%, Floor 5.65%) 10/25/36 #, • | 1600000 | &nbsp;&nbsp;&nbsp; 1604544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carlyle US CLO Series 2021-11A ER 144A 10.358% (TSFR03M + 6.50%, Floor 6.50%) 7/25/37 #, • | 2000000 | &nbsp;&nbsp;&nbsp; 1973030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CBAMR<br> Series 2021-15A ER 144A 9.384% (TSFR03M + 5.50%, Floor 5.50%) 1/20/38 #, • | 3000000 | &nbsp;&nbsp;&nbsp; 2934597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cedar Funding IX CLO Series 2018-9A ER 144A 11.414% (TSFR03M + 7.53%, Floor 7.53%) 7/20/37 #, • | 2000000 | &nbsp;&nbsp;&nbsp; 2009964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clover CLO<br> Series 2021-3A ER 144A 8.758% (TSFR03M + 4.90%, Floor 4.90%) 1/25/35 #, • | 2280000 | &nbsp;&nbsp;&nbsp; 2259359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dryden CLO 109<br> Series 2022-109A ER 144A 9.255% (TSFR03M + 5.35%, Floor 5.35%) 4/15/38 #, • | 3500000 | &nbsp;&nbsp;&nbsp; 3454006 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elmwood CLO 17<br> Series 2022-4A ER 144A 9.582% (TSFR03M + 5.70%, Floor 5.70%) 7/17/37 #, • | 2000000 | &nbsp;&nbsp;&nbsp; 1977084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elmwood CLO IX Series 2021-2A ER 144A 8.534% (TSFR03M + 4.65%, Floor 4.65%) 4/20/38 #, • | 2500000 | &nbsp;&nbsp;&nbsp; 2435038 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | &nbsp;&nbsp;**Value (US $)** |
| &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** | &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** | &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Empower CLO<br> Series 2022-1A ER 144A 9.784% (TSFR03M + 5.90%, Floor 5.90%) 10/20/37 #, • | 2750000 | &nbsp;&nbsp;$2695715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Golub Capital Partners CLO 62B<br> Series 2022-62A ER 144A 10.305% (TSFR03M + 6.40%, Floor 6.40%) 10/15/37 #, • | 1150000 | &nbsp;&nbsp;&nbsp; 1138943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Golub Capital Partners CLO 76 B<br> Series 2024-76A E 144A 9.608% (TSFR03M + 5.75%, Floor 5.75%) 10/25/37 #, • | 1150000 | &nbsp;&nbsp;&nbsp; 1154261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Invesco US CLO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-4A E 144A 11.894% (TSFR03M + 8.01%, Floor 8.01%) 1/18/37 #, • | 1200000 | &nbsp;&nbsp;&nbsp; 1196983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-3A E 144A 10.384% (TSFR03M + 6.50%, Floor 6.50%) 7/20/37 #, • | 3500000 | &nbsp;&nbsp;&nbsp; 3498971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KKR CLO 27<br> Series 27A ER2 144A 10.155% (TSFR03M + 6.25%, Floor 6.25%) 1/15/35 #, • | 3450000 | &nbsp;&nbsp;&nbsp; 3298493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Madison Park Funding XXX Series 2018-30A ER 144A 10.294% (TSFR03M + 6.40%, Floor 6.40%) 7/16/37 #, • | 2100000 | &nbsp;&nbsp;&nbsp; 2064470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Magnetite XLV<br> Series 2025-45A E 144A 8.405% (TSFR03M + 4.50%, Floor 4.50%) 4/15/38 #, • | 2500000 | &nbsp;&nbsp;&nbsp; 2477670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley Eaton Vance CLO<br> Series 2025-21A E 144A 8.605% (TSFR03M + 4.70%, Floor 4.70%) 4/15/38 #, • | 1090000 | &nbsp;&nbsp;&nbsp; 1066611 |

---

2 NQ- IV009 [1225] 0226 (5191660)

------

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | &nbsp;&nbsp;**Value (US $)** |
| &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** | &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** | &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neuberger Berman CLO XX Series 2015-20A ER3 144A 8.655% (TSFR03M + 4.75%, Floor 4.75%) 4/15/39 #, • | 3250000 | &nbsp;&nbsp;$3200337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neuberger Berman Loan Advisers CLO 59<br> Series 2024-59A D2 144A 7.66% (TSFR03M + 3.80%, Floor 3.80%) 1/23/39 #, • | 1100000 | &nbsp;&nbsp;&nbsp; 1094489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oaktree CLO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-3A ER2 144A 10.634% (TSFR03M + 6.75%, Floor 6.75%) 1/20/38 #, • | 3300000 | &nbsp;&nbsp;&nbsp; 3247111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-1A ERR 144A 8.905% (TSFR03M + 5.00%, Floor 5.00%) 1/15/38 #, • | 2800000 | &nbsp;&nbsp;&nbsp; 2730832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OCP CLO<br> Series 2019-17A ER2 144A 10.134% (TSFR03M + 6.25%, Floor 6.25%) 7/20/37 #, • | 3200000 | &nbsp;&nbsp;&nbsp; 3196928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OFSI BSL XIV CLO Series 2024-14A E 144A 11.624% (TSFR03M + 7.74%, Floor 7.74%) 7/20/37 #, • | 2000000 | &nbsp;&nbsp;&nbsp; 1969548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OHA Credit Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-9A ER 144A 9.384% (TSFR03M + 5.50%, Floor 5.50%) 10/19/37 #, • | 2550000 | &nbsp;&nbsp;&nbsp; 2557423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-11A ER 144A 9.284% (TSFR03M + 5.40%, Floor 5.40%) 7/19/37 #, • | 2200000 | &nbsp;&nbsp;&nbsp; 2198084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Palmer Square CLO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-1A DR 144A 10.824% (TSFR03M + 6.94%, Floor 6.94%) 4/18/37 #, • | 1000000 | &nbsp;&nbsp;&nbsp; 997975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2A D2 144A 8.675% (TSFR03M + 4.35%, Floor 4.35%) 7/20/37 #, • | 2500000 | &nbsp;&nbsp;&nbsp; 2502175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Park Blue CLO<br> Series 2022-1A ER 144A 10.974% (TSFR03M + 7.09%, Floor 7.09%) 10/20/37 #, • | 2100000 | &nbsp;&nbsp;&nbsp; 2092511 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | &nbsp;&nbsp;**Value (US $)** |
| &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** | &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** | &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RR Series 2024-28RA DR 144A 10.905% (TSFR03M + 7.00%, Floor 7.00%) 4/15/37 #, • | 1800000 | &nbsp;&nbsp;$1800902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sculptor CLO XXXIII Series 33A D1A 144A 7.284% (TSFR03M + 3.40%, Floor 3.40%) 7/20/37 #, • | 1500000 | &nbsp;&nbsp;&nbsp; 1502559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Silver Point CLO 5<br> Series 2024-5A E 144A 10.284% (TSFR03M + 6.40%, Floor 6.40%) 10/20/37 #, • | 2700000 | &nbsp;&nbsp;&nbsp; 2705635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sound Point CLO<br> Series 2025-1RA E 144A 11.469% (TSFR03M + 7.58%, Floor 7.58%) 2/20/38 #, • | 1600000 | &nbsp;&nbsp;&nbsp; 1580061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Storm King Park CLO Series 2022-1A ER 144A 10.055% (TSFR03M + 6.15%, Floor 6.15%) 10/15/37 #, • | 2850000 | &nbsp;&nbsp;&nbsp; 2817424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Symphony CLO 39 Series 2023-39A ER 144A 9.358% (TSFR03M + 5.50%, Floor 5.50%) 1/25/38 #, • | 3750000 | &nbsp;&nbsp;&nbsp; 3701501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TCW CLO<br> Series 2024-3A E 144A 10.484% (TSFR03M + 6.60%, Floor 6.60%) 10/20/37 #, • | 2300000 | &nbsp;&nbsp;&nbsp; 2293769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TCW CLO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1A ER 144A 10.384% (TSFR03M + 6.50%, Floor 6.50%) 1/20/38 #, • | 2000000 | &nbsp;&nbsp;&nbsp; 1980526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2A E 144A 11.132% (TSFR03M + 7.25%, Floor 7.25%) 7/17/37 #, • | 2500000 | &nbsp;&nbsp;&nbsp; 2476513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wellfleet CLO<br> Series 2022-1A ER 144A 11.655% (TSFR03M + 7.75%, Floor 7.75%) 7/15/37 #, • | 2500000 | &nbsp;&nbsp;&nbsp; 2388200 |
| &nbsp;&nbsp;&nbsp;**Total Collateralized Loan Obligations<br> (cost $138,494,337)** | &nbsp;&nbsp;&nbsp;**Total Collateralized Loan Obligations<br> (cost $138,494,337)** | &nbsp;&nbsp;&nbsp; **136528450** |

---

NQ- IV009 [1225] 0226 (5191660) 3

------

Nomura High Income Fund

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | &nbsp;&nbsp;**Value (US $)** |
| &nbsp;&nbsp;**Convertible Bond — 1.31%** | &nbsp;&nbsp;**Convertible Bond — 1.31%** | &nbsp;&nbsp;**Convertible Bond — 1.31%** |
| &nbsp;&nbsp;Leisure — 1.31% | &nbsp;&nbsp;Leisure — 1.31% | &nbsp;&nbsp;Leisure — 1.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Cotai PIK 5.00% exercise price $0.40, maturity date 2/2/27 <<, =, >>, π | 26049124 | &nbsp;&nbsp;$26568218 |
| &nbsp;&nbsp;&nbsp;**Total Convertible Bond<br> (cost $25,830,323)** | &nbsp;&nbsp;&nbsp;**Total Convertible Bond<br> (cost $25,830,323)** | &nbsp;&nbsp;&nbsp; **26568218** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Corporate Bonds — 80.80%** | &nbsp;&nbsp;**Corporate Bonds — 80.80%** | &nbsp;&nbsp;**Corporate Bonds — 80.80%** |
| &nbsp;&nbsp;Automotive — 4.15% | &nbsp;&nbsp;Automotive — 4.15% | &nbsp;&nbsp;Automotive — 4.15% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Axle & Manufacturing 144A 7.75% 10/15/33 # | 2390000 | &nbsp;&nbsp; 2435741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clarios Global |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.75% 2/15/30 # | 9628000 | &nbsp;&nbsp; 10076280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.75% 9/15/32 # | 5555000 | &nbsp;&nbsp; 5763799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Garrett Motion Holdings 144A 7.75% 5/31/32 # | 19248000 | &nbsp;&nbsp; 20471572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodyear Tire & Rubber 6.625% 7/15/30 | 8110000 | &nbsp;&nbsp; 8310966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nissan Motor 144A 8.125% 7/17/35 # | 4475000 | &nbsp;&nbsp; 4759263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Phinia 144A 6.625% 10/15/32 # | 6498000 | &nbsp;&nbsp; 6752786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wand NewCo 3 144A 7.625% 1/30/32 # | 13368000 | &nbsp;&nbsp; 14154439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ZF North America Capital 144A 7.50% 3/24/31 # | 10990000 | &nbsp;&nbsp; 11115967 |
|  |  | &nbsp;&nbsp; 83840813 |
| &nbsp;&nbsp;Banking — 3.18% | &nbsp;&nbsp;Banking — 3.18% | &nbsp;&nbsp;Banking — 3.18% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banco Santander 8.00% 2/1/34 μ, ψ | 19200000 | &nbsp;&nbsp; 21632820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank of Montreal 7.70% 5/26/84 μ | 10435000 | &nbsp;&nbsp; 11086705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Barclays 9.625% 12/15/29 μ, ψ | 18050000 | &nbsp;&nbsp; 20523049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Royal Bank of Canada 6.50% 11/24/85 μ | 11010000 | &nbsp;&nbsp; 10971498 |
|  |  | &nbsp;&nbsp; 64214072 |
| &nbsp;&nbsp;Basic Industry — 5.50% | &nbsp;&nbsp;Basic Industry — 5.50% | &nbsp;&nbsp;Basic Industry — 5.50% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AmeriTex HoldCo Intermediate 144A 7.625% 8/15/33 # | 5690000 | &nbsp;&nbsp; 6007382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arsenal AIC Parent 144A 8.00% 10/1/30 # | 10935000 | &nbsp;&nbsp; 11617462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Celanese US Holdings 7.375% 2/15/34 | 10274000 | &nbsp;&nbsp; 10444809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cleveland-Cliffs |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.00% 3/15/32 # | 8930000 | &nbsp;&nbsp; 9164417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.625% 1/15/34 # | 6850000 | &nbsp;&nbsp; 7163634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;K Hovnanian Enterprises 144A 8.375% 10/1/33 # | 7665000 | &nbsp;&nbsp; 7795761 |

---

---

| | | |
|:---|:---|:---|
|  | **Principalamount<sup>°</sup>** | &nbsp;&nbsp;**Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Basic Industry (continued) | &nbsp;&nbsp;Basic Industry (continued) | &nbsp;&nbsp;Basic Industry (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mineral Resources 144A 9.25% 10/1/28 # | 3455000 | &nbsp;&nbsp;$3629133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOVA Chemicals 144A 9.00% 2/15/30 # | 12770000 | &nbsp;&nbsp;&nbsp; 13651322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Olympus Water US Holding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.25% 6/15/31 # | 2640000 | &nbsp;&nbsp;&nbsp; 2712106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.25% 2/15/33 # | 11290000 | &nbsp;&nbsp;&nbsp; 11356065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Quikrete Holdings 144A 6.75% 3/1/33 # | 12800000 | &nbsp;&nbsp;&nbsp; 13375759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Standard Building Solutions 144A 6.50% 8/15/32 # | 13825000 | &nbsp;&nbsp;&nbsp; 14243151 |
|  |  | &nbsp;&nbsp;&nbsp; 111161001 |
| &nbsp;&nbsp;Capital Goods — 7.73% | &nbsp;&nbsp;Capital Goods — 7.73% | &nbsp;&nbsp;Capital Goods — 7.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amentum Holdings 144A 7.25% 8/1/32 # | 10945000 | &nbsp;&nbsp;&nbsp; 11543462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arcosa 144A 6.875% 8/15/32 # | 6865000 | &nbsp;&nbsp;&nbsp; 7263132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bombardier |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.00% 6/1/32 # | 4945000 | &nbsp;&nbsp;&nbsp; 5231271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.25% 7/1/31 # | 6805000 | &nbsp;&nbsp;&nbsp; 7260241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.75% 11/15/30 # | 5590000 | &nbsp;&nbsp;&nbsp; 6046468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clydesdale Acquisition Holdings 144A 8.75% 4/15/30 # | 10512000 | &nbsp;&nbsp;&nbsp; 10694951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goat Holdco 144A 6.75% 2/1/32 # | 6220000 | &nbsp;&nbsp;&nbsp; 6393289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manitowoc 144A 9.25% 10/1/31 # | 6840000 | &nbsp;&nbsp;&nbsp; 7355394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mauser Packaging Solutions<br> Holding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.875% 4/15/30 # | 9035000 | &nbsp;&nbsp;&nbsp; 8972075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 9.25% 4/15/30 # | 13205000 | &nbsp;&nbsp;&nbsp; 12742825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sealed Air 144A 7.25% 2/15/31 # | 3565000 | &nbsp;&nbsp;&nbsp; 3716840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Terex 144A 6.25% 10/15/32 # | 13020000 | &nbsp;&nbsp;&nbsp; 13367712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Toucan FinCo 144A 9.50% 5/15/30 # | 3884000 | &nbsp;&nbsp;&nbsp; 3882200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TransDigm |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.625% 3/1/32 # | 10260000 | &nbsp;&nbsp;&nbsp; 10687524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.875% 12/15/30 # | 24815000 | &nbsp;&nbsp;&nbsp; 25981968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trivium Packaging Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.25% 7/15/30 # | 2304000 | &nbsp;&nbsp;&nbsp; 2471618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 12.25% 1/15/31 # | 9701000 | &nbsp;&nbsp;&nbsp; 10534280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VoltaGrid 144A 7.375% 11/1/30 # | 2116000 | &nbsp;&nbsp;&nbsp; 2097444 |
|  |  | &nbsp;&nbsp;&nbsp; 156242694 |
| &nbsp;&nbsp;Consumer Goods — 1.53% | &nbsp;&nbsp;Consumer Goods — 1.53% | &nbsp;&nbsp;Consumer Goods — 1.53% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cerdia Finanz 144A 9.375% 10/3/31 # | 13700000 | &nbsp;&nbsp;&nbsp; 14230875 |

---

4 NQ- IV009 [1225] 0226 (5191660)

------

---

| | | |
|:---|:---|:---|
|  | **Principalamount<sup>°</sup>** | &nbsp;&nbsp;**Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Consumer Goods (continued) | &nbsp;&nbsp;Consumer Goods (continued) | &nbsp;&nbsp;Consumer Goods (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fiesta Purchaser |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.875% 3/1/31 # | 6406000 | &nbsp;&nbsp;$6710106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 9.625% 9/15/32 # | 9560000 | &nbsp;&nbsp;&nbsp; 10042933 |
|  |  | &nbsp;&nbsp;&nbsp; 30983914 |
| &nbsp;&nbsp;Electric — 4.69% | &nbsp;&nbsp;Electric — 4.69% | &nbsp;&nbsp;Electric — 4.69% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Buyer 144A 6.375% 2/15/32 # | 9177000 | &nbsp;&nbsp;&nbsp; 9212001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lightning Power 144A 7.25% 8/15/32 # | 16700000 | &nbsp;&nbsp;&nbsp; 17767397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NRG Energy 144A 6.25% 11/1/34 # | 13570000 | &nbsp;&nbsp;&nbsp; 13949349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vistra |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.00% 12/15/26 #, μ, ψ | 32965000 | &nbsp;&nbsp;&nbsp; 33663980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.00% 10/15/26 #, μ, ψ | 17255000 | &nbsp;&nbsp;&nbsp; 17755606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;XPLR Infrastructure Operating Partners 144A 8.375% 1/15/31 # | 2270000 | &nbsp;&nbsp;&nbsp; 2386760 |
|  |  | &nbsp;&nbsp;&nbsp; 94735093 |
| &nbsp;&nbsp;Energy — 9.45% | &nbsp;&nbsp;Energy — 9.45% | &nbsp;&nbsp;Energy — 9.45% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Archrock Partners 144A 6.625% 9/1/32 # | 7980000 | &nbsp;&nbsp;&nbsp; 8235560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Civitas Resources 144A 9.625% 6/15/33 # | 10970000 | &nbsp;&nbsp;&nbsp; 11851365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crescent Energy Finance 144A 8.375% 1/15/34 # | 5154000 | &nbsp;&nbsp;&nbsp; 5122818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Genesis Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75% 2/1/28 | 6520000 | &nbsp;&nbsp;&nbsp; 6550913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.875% 5/15/32 | 3320000 | &nbsp;&nbsp;&nbsp; 3463208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gulfport Energy Operating 144A 6.75% 9/1/29 # | 13705000 | &nbsp;&nbsp;&nbsp; 14170024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hilcorp Energy I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.00% 2/1/31 # | 2330000 | &nbsp;&nbsp;&nbsp; 2224012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.25% 4/15/32 # | 10220000 | &nbsp;&nbsp;&nbsp; 9656692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.25% 2/15/35 # | 11435000 | &nbsp;&nbsp;&nbsp; 10874423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Matador Resources 144A 6.25% 4/15/33 # | 9555000 | &nbsp;&nbsp;&nbsp; 9604208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nabors Industries |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.875% 8/15/31 # | 2821000 | &nbsp;&nbsp;&nbsp; 2738562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 9.125% 1/31/30 # | 5178000 | &nbsp;&nbsp;&nbsp; 5433017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NGL Energy Operating 144A 8.375% 2/15/32 # | 13785000 | &nbsp;&nbsp;&nbsp; 14284293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noble Finance II 144A 8.00% 4/15/30 # | 10295000 | &nbsp;&nbsp;&nbsp; 10702308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Permian Resources Operating |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.00% 1/15/32 # | 4495000 | &nbsp;&nbsp;&nbsp; 4701776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 9.875% 7/15/31 # | 2090000 | &nbsp;&nbsp;&nbsp; 2253655 |

---

---

| | | |
|:---|:---|:---|
|  | **Principalamount<sup>°</sup>** | &nbsp;&nbsp;**Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Energy (continued) | &nbsp;&nbsp;Energy (continued) | &nbsp;&nbsp;Energy (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SESI 144A 7.875% 9/30/30 # | 2175000 | &nbsp;&nbsp;$2142605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SM Energy 144A 7.00% 8/1/32 # | 6074000 | &nbsp;&nbsp;&nbsp; 5974985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transocean International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.875% 10/15/32 # | 10047000 | &nbsp;&nbsp;&nbsp; 10540670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.50% 5/15/31 # | 5610000 | &nbsp;&nbsp;&nbsp; 5560581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;USA Compression Partners 144A 7.125% 3/15/29 # | 5582000 | &nbsp;&nbsp;&nbsp; 5780616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Venture Global LNG 144A 9.875% 2/1/32 # | 17015000 | &nbsp;&nbsp;&nbsp; 17588361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Venture Global Plaquemines LNG 144A 7.75% 5/1/35 # | 7980000 | &nbsp;&nbsp;&nbsp; 8741998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vital Energy 144A 7.875% 4/15/32 # | 12905000 | &nbsp;&nbsp;&nbsp; 12723866 |
|  |  | &nbsp;&nbsp;&nbsp; 190920516 |
| &nbsp;&nbsp;Financial Services — 6.10% | &nbsp;&nbsp;Financial Services — 6.10% | &nbsp;&nbsp;Financial Services — 6.10% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Azorra Finance 144A 7.75% 4/15/30 # | 13970000 | &nbsp;&nbsp;&nbsp; 14805183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Block 6.50% 5/15/32 | 10420000 | &nbsp;&nbsp;&nbsp; 10842166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CrossCountry Intermediate HoldCo 144A 6.50% 10/1/30 # | 10900000 | &nbsp;&nbsp;&nbsp; 11131581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Focus Financial Partners 144A 6.75% 9/15/31 # | 13172000 | &nbsp;&nbsp;&nbsp; 13550018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FTAI Aviation Investors 144A 7.00% 6/15/32 # | 13995000 | &nbsp;&nbsp;&nbsp; 14723062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jefferies Finance 144A 6.625% 10/15/31 # | 13600000 | &nbsp;&nbsp;&nbsp; 13394233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OneMain Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.625% 5/15/29 | 9277000 | &nbsp;&nbsp;&nbsp; 9620193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.125% 9/15/32 | 2849000 | &nbsp;&nbsp;&nbsp; 2963446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PennyMac Financial Services |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.875% 5/15/32 # | 5840000 | &nbsp;&nbsp;&nbsp; 6117078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.875% 2/15/33 # | 8960000 | &nbsp;&nbsp;&nbsp; 9360088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UBS Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.85% 9/10/29 #, μ, ψ | 2775000 | &nbsp;&nbsp;&nbsp; 2848743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.125% 8/10/34 #, μ, ψ | 9500000 | &nbsp;&nbsp;&nbsp; 9740821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UWM Holdings 144A 6.625% 2/1/30 # | 4054000 | &nbsp;&nbsp;&nbsp; 4107712 |
|  |  | &nbsp;&nbsp;&nbsp; 123204324 |
| &nbsp;&nbsp;Healthcare — 4.33% | &nbsp;&nbsp;Healthcare — 4.33% | &nbsp;&nbsp;Healthcare — 4.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1261229 BC 144A 10.00% 4/15/32 # | 5295000 | &nbsp;&nbsp;&nbsp; 5510861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AthenaHealth Group 144A 6.50% 2/15/30 # | 10920000 | &nbsp;&nbsp;&nbsp; 10896418 |

---

NQ- IV009 [1225] 0226 (5191660) 5

------

Nomura High Income Fund

---

| | | |
|:---|:---|:---|
|  | **Principalamount<sup>°</sup>** | &nbsp;&nbsp;**Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Healthcare (continued) | &nbsp;&nbsp;Healthcare (continued) | &nbsp;&nbsp;Healthcare (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CHS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.125% 4/1/30 # | 3563000 | &nbsp;&nbsp;$2858037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.875% 4/15/29 # | 3555000 | &nbsp;&nbsp;&nbsp; 3167327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 9.75% 1/15/34 # | 8175000 | &nbsp;&nbsp;&nbsp; 8596655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GENMAB 144A 7.25% 12/15/33 # | 2015000 | &nbsp;&nbsp;&nbsp; 2118273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Medical Response 144A 7.375% 10/1/32 # | 6231000 | &nbsp;&nbsp;&nbsp; 6488831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LifePoint Health 144A 11.00% 10/15/30 # | 5395000 | &nbsp;&nbsp;&nbsp; 5923089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;National Mentor Holdings 144A 10.50% 12/15/30 # | 1448000 | &nbsp;&nbsp;&nbsp; 1457018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Organon & Co. 144A 5.125% 4/30/31 # | 11228000 | &nbsp;&nbsp;&nbsp; 9307282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paradigm Parent and Paradigm Parent CO-Issuer 144A 8.75% 4/17/32 # | 2400000 | &nbsp;&nbsp;&nbsp; 2176464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Radiology Partners 144A 8.50% 7/15/32 # | 3735000 | &nbsp;&nbsp;&nbsp; 3906390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Raven Acquisition Holdings 144A 6.875% 11/15/31 # | 10235000 | &nbsp;&nbsp;&nbsp; 10556184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Surgery Center Holdings 144A 7.25% 4/15/32 # | 14265000 | &nbsp;&nbsp;&nbsp; 14446427 |
|  |  | &nbsp;&nbsp;&nbsp; 87409256 |
| &nbsp;&nbsp;Insurance — 5.15% | &nbsp;&nbsp;Insurance — 5.15% | &nbsp;&nbsp;Insurance — 5.15% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ardonagh Finco 144A 7.75% 2/15/31 # | 16665000 | &nbsp;&nbsp;&nbsp; 17482832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Howden UK Refinance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.25% 2/15/31 # | 9350000 | &nbsp;&nbsp;&nbsp; 9634652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.125% 2/15/32 # | 8375000 | &nbsp;&nbsp;&nbsp; 8652313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HUB International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.25% 6/15/30 # | 5860000 | &nbsp;&nbsp;&nbsp; 6155814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.375% 1/31/32 # | 13935000 | &nbsp;&nbsp;&nbsp; 14634244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jones Deslauriers Insurance Management 144A 8.50% 3/15/30 # | 21010000 | &nbsp;&nbsp;&nbsp; 22035351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Panther Escrow Issuer 144A 7.125% 6/1/31 # | 13925000 | &nbsp;&nbsp;&nbsp; 14438526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;USI 144A 7.50% 1/15/32 # | 10450000 | &nbsp;&nbsp;&nbsp; 10965488 |
|  |  | &nbsp;&nbsp;&nbsp; 103999220 |
| &nbsp;&nbsp;Leisure — 1.98% | &nbsp;&nbsp;Leisure — 1.98% | &nbsp;&nbsp;Leisure — 1.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Caesars Entertainment |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.50% 2/15/32 # | 6890000 | &nbsp;&nbsp;&nbsp; 7061969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.00% 2/15/30 # | 8210000 | &nbsp;&nbsp;&nbsp; 8506603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Light & Wonder International 144A 7.25% 11/15/29 # | 6265000 | &nbsp;&nbsp;&nbsp; 6437859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lindblad Expeditions 144A 7.00% 9/15/30 # | 2205000 | &nbsp;&nbsp;&nbsp; 2301259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mohegan Tribal Gaming Authority 144A 8.25% 4/15/30 # | 3226000 | &nbsp;&nbsp;&nbsp; 3371338 |

---

---

| | | |
|:---|:---|:---|
|  | **Principalamount<sup>°</sup>** | &nbsp;&nbsp;**Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Leisure (continued) | &nbsp;&nbsp;Leisure (continued) | &nbsp;&nbsp;Leisure (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Six Flags Entertainment 144A 6.625% 5/1/32 # | 8435000 | &nbsp;&nbsp;$8510948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voyager Parent 144A 9.25% 7/1/32 # | 3500000 | &nbsp;&nbsp;&nbsp; 3716058 |
|  |  | &nbsp;&nbsp;&nbsp; 39906034 |
| &nbsp;&nbsp;Media — 8.53% | &nbsp;&nbsp;Media — 8.53% | &nbsp;&nbsp;Media — 8.53% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advantage Sales & Marketing 144A 6.50% 11/15/28 # | 6684000 | &nbsp;&nbsp;&nbsp; 5469384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AMC Networks 144A 10.25% 1/15/29 # | 5730000 | &nbsp;&nbsp;&nbsp; 6012443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CCO Holdings 144A 6.375% 9/1/29 # | 24785000 | &nbsp;&nbsp;&nbsp; 25138206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cimpress 144A 7.375% 9/15/32 # | 9505000 | &nbsp;&nbsp;&nbsp; 9707017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clear Channel Outdoor Holdings 144A 7.50% 3/15/33 # | 6155000 | &nbsp;&nbsp;&nbsp; 6506581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CMG Media 144A 8.875% 6/18/29 # | 14477000 | &nbsp;&nbsp;&nbsp; 12449641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CSC Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.50% 11/15/31 # | 10380000 | &nbsp;&nbsp;&nbsp; 6356089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.00% 11/15/31 # | 10946000 | &nbsp;&nbsp;&nbsp; 3918883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cumulus Media New Holdings 144A 8.00% 7/1/29 # | 18686000 | &nbsp;&nbsp;&nbsp; 5138650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Directv Financing 144A 8.875% 2/1/30 # | 2530000 | &nbsp;&nbsp;&nbsp; 2565928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gray Media |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.375% 11/15/31 # | 13758000 | &nbsp;&nbsp;&nbsp; 10328887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.25% 8/15/33 # | 4905000 | &nbsp;&nbsp;&nbsp; 5015013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;McGraw-Hill Education 144A 7.375% 9/1/31 # | 16282000 | &nbsp;&nbsp;&nbsp; 17190894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Midcontinent Communications 144A 8.00% 8/15/32 # | 13065000 | &nbsp;&nbsp;&nbsp; 13389992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Snap 144A 6.875% 3/1/33 # | 12620000 | &nbsp;&nbsp;&nbsp; 13087384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stagwell Global 144A 5.625% 8/15/29 # | 14375000 | &nbsp;&nbsp;&nbsp; 14028748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Univision Communications |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.375% 6/30/30 # | 8345000 | &nbsp;&nbsp;&nbsp; 8511867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 9.375% 8/1/32 # | 5650000 | &nbsp;&nbsp;&nbsp; 6076733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Versant Media Group 144A 7.25% 1/30/31 # | 1352000 | &nbsp;&nbsp;&nbsp; 1395608 |
|  |  | &nbsp;&nbsp;&nbsp; 172287948 |
| &nbsp;&nbsp;Non-Electric Utilities — 0.18% | &nbsp;&nbsp;Non-Electric Utilities — 0.18% | &nbsp;&nbsp;Non-Electric Utilities — 0.18% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AmeriGas Partners 144A 9.50% 6/1/30 # | 3495000 | &nbsp;&nbsp;&nbsp; 3725604 |
|  |  | &nbsp;&nbsp;&nbsp; 3725604 |
| &nbsp;&nbsp;Real Estate — 0.70% | &nbsp;&nbsp;Real Estate — 0.70% | &nbsp;&nbsp;Real Estate — 0.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brandywine Operating Partnership 8.875% 4/12/29 | 2265000 | &nbsp;&nbsp;&nbsp; 2442922 |

---

6 NQ- IV009 [1225] 0226 (5191660)

------

---

| | | |
|:---|:---|:---|
|  | **Principalamount<sup>°</sup>** | &nbsp;&nbsp;**Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Real Estate (continued) | &nbsp;&nbsp;Real Estate (continued) | &nbsp;&nbsp;Real Estate (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Outfront Media Capital 144A 7.375% 2/15/31 # | 2335000 | &nbsp;&nbsp;$2472940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RHP Hotel Properties 144A 7.25% 7/15/28 # | 2390000 | &nbsp;&nbsp;&nbsp; 2466148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Service Properties Trust 8.875% 6/15/32 | 2500000 | &nbsp;&nbsp;&nbsp; 2468257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Starwood Property Trust 144A 6.50% 7/1/30 # | 4116000 | &nbsp;&nbsp;&nbsp; 4307900 |
|  |  | &nbsp;&nbsp;&nbsp; 14158167 |
| &nbsp;&nbsp;Retail — 4.86% | &nbsp;&nbsp;Retail — 4.86% | &nbsp;&nbsp;Retail — 4.86% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bath & Body Works |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.875% 11/1/35 | 22735000 | &nbsp;&nbsp;&nbsp; 23023919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.95% 3/1/33 | 1347000 | &nbsp;&nbsp;&nbsp; 1338959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beach Acquisition Bidco PIK 144A 10.00% 7/15/33 #, « | 7705000 | &nbsp;&nbsp;&nbsp; 8511197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carvana |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PIK 144A 9.00% 6/1/30 #, > | 5122650 | &nbsp;&nbsp;&nbsp; 5375683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PIK 144A 9.00% 6/1/31 #, >> | 5475942 | &nbsp;&nbsp;&nbsp; 6182935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;eG Global Finance 144A 12.00% 11/30/28 # | 2180000 | &nbsp;&nbsp;&nbsp; 2371844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Magnera 144A 7.25% 11/15/31 # | 18481000 | &nbsp;&nbsp;&nbsp; 18161371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PetSmart |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.50% 9/15/32 # | 3350000 | &nbsp;&nbsp;&nbsp; 3413280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 10.00% 9/15/33 # | 2230000 | &nbsp;&nbsp;&nbsp; 2299324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rakuten Group 144A 11.25% 2/15/27 # | 4520000 | &nbsp;&nbsp;&nbsp; 4836854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Victra Holdings 144A 8.75% 9/15/29 # | 16325000 | &nbsp;&nbsp;&nbsp; 17304141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;William Carter 144A 7.375% 2/15/31 # | 5108000 | &nbsp;&nbsp;&nbsp; 5287556 |
|  |  | &nbsp;&nbsp;&nbsp; 98107063 |
| &nbsp;&nbsp;Services — 4.22% | &nbsp;&nbsp;Services — 4.22% | &nbsp;&nbsp;Services — 4.22% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Albion Financing 1 144A 7.00% 5/21/30 # | 5725000 | &nbsp;&nbsp;&nbsp; 5998401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Herc Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.00% 6/15/30 # | 3810000 | &nbsp;&nbsp;&nbsp; 4012019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.25% 6/15/33 # | 2595000 | &nbsp;&nbsp;&nbsp; 2753228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;QXO Building Products 144A 6.75% 4/30/32 # | 2891000 | &nbsp;&nbsp;&nbsp; 3021727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resideo Funding 144A 6.50% 7/15/32 # | 11765000 | &nbsp;&nbsp;&nbsp; 12056572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;S&S Holdings 144A 8.375% 10/1/31 # | 5390000 | &nbsp;&nbsp;&nbsp; 5169532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Staples 144A 10.75% 9/1/29 # | 13525000 | &nbsp;&nbsp;&nbsp; 13463336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Synergy Infrastructure Holdings 144A 7.875% 12/1/30 # | 4125000 | &nbsp;&nbsp;&nbsp; 4286794 |

---

---

| | | |
|:---|:---|:---|
|  | **Principalamount<sup>°</sup>** | &nbsp;&nbsp;**Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Services (continued) | &nbsp;&nbsp;Services (continued) | &nbsp;&nbsp;Services (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Waste Pro USA 144A 7.00% 2/1/33 # | 6300000 | &nbsp;&nbsp;$6500438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;White Cap Supply Holdings 144A 7.375% 11/15/30 # | 18370000 | &nbsp;&nbsp;&nbsp; 19072899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Williams Scotsman 144A 6.625% 4/15/30 # | 8510000 | &nbsp;&nbsp;&nbsp; 8825755 |
|  |  | &nbsp;&nbsp;&nbsp; 85160701 |
| &nbsp;&nbsp;Technology & Electronics — 3.09% | &nbsp;&nbsp;Technology & Electronics — 3.09% | &nbsp;&nbsp;Technology & Electronics — 3.09% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capstone Borrower 144A 8.00% 6/15/30 # | 4890000 | &nbsp;&nbsp;&nbsp; 5040973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cipher Compute 144A 7.125% 11/15/30 # | 3112000 | &nbsp;&nbsp;&nbsp; 3173409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cloud Software Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.50% 3/31/29 # | 6085000 | &nbsp;&nbsp;&nbsp; 6168656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 9.00% 9/30/29 # | 11640000 | &nbsp;&nbsp;&nbsp; 12131213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CommScope 144A 8.25% 3/1/27 # | 2720000 | &nbsp;&nbsp;&nbsp; 2743041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CoreWeave 144A 9.00% 2/1/31 # | 2230000 | &nbsp;&nbsp;&nbsp; 2046627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ION Platform Finance US 144A 7.875% 9/30/32 # | 10900000 | &nbsp;&nbsp;&nbsp; 10356169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UKG 144A 6.875% 2/1/31 # | 12225000 | &nbsp;&nbsp;&nbsp; 12576994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WULF Compute 144A 7.75% 10/15/30 # | 4024000 | &nbsp;&nbsp;&nbsp; 4148778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zebra Technologies 144A 6.50% 6/1/32 # | 3950000 | &nbsp;&nbsp;&nbsp; 4094151 |
|  |  | &nbsp;&nbsp;&nbsp; 62480011 |
| &nbsp;&nbsp;Telecommunications — 5.43% | &nbsp;&nbsp;Telecommunications — 5.43% | &nbsp;&nbsp;Telecommunications — 5.43% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Connect Finco 144A 9.00% 9/15/29 # | 14985000 | &nbsp;&nbsp;&nbsp; 15913908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Digicel International Finance 144A 8.625% 8/1/32 # | 5655000 | &nbsp;&nbsp;&nbsp; 5871429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Frontier Communications Holdings 144A 6.75% 5/1/29 # | 17150000 | &nbsp;&nbsp;&nbsp; 17290932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Iliad Holding 144A 8.50% 4/15/31 # | 20110000 | &nbsp;&nbsp;&nbsp; 21656439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rogers Communications 7.125% 4/15/55 μ | 10860000 | &nbsp;&nbsp;&nbsp; 11441484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sable International Finance 144A 7.125% 10/15/32 # | 13695000 | &nbsp;&nbsp;&nbsp; 13891003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vmed O2 UK Financing I 144A 7.75% 4/15/32 # | 11765000 | &nbsp;&nbsp;&nbsp; 12275013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VZ Secured Financing 144A 7.50% 1/15/33 # | 5500000 | &nbsp;&nbsp;&nbsp; 5577318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Windstream Services 144A 7.50% 10/15/33 # | 5678000 | &nbsp;&nbsp;&nbsp; 5825389 |
|  |  | &nbsp;&nbsp;&nbsp; 109742915 |
| &nbsp;&nbsp;&nbsp;**Total Corporate Bonds<br> (cost $1,607,323,886)** | &nbsp;&nbsp;&nbsp;**Total Corporate Bonds<br> (cost $1,607,323,886)** | &nbsp;&nbsp;&nbsp;**1632279346** |

---

NQ- IV009 [1225] 0226 (5191660) 7

------

Nomura High Income Fund

---

| | | |
|:---|:---|:---|
|  | **Principalamount<sup>°</sup>** | &nbsp;&nbsp;**Value (US $)** |
| &nbsp;&nbsp;**Loan Agreements — 7.89%** | &nbsp;&nbsp;**Loan Agreements — 7.89%** | &nbsp;&nbsp;**Loan Agreements — 7.89%** |
| &nbsp;&nbsp;Automotive — 0.55% | &nbsp;&nbsp;Automotive — 0.55% | &nbsp;&nbsp;Automotive — 0.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clarios Global 6.466% (SOFR01M + 2.75%) 1/28/32 • | 4867800 | &nbsp;&nbsp;$4886054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenneco Tranche B 8.772% - 8.989% (SOFR03M + 5.10%) 11/17/28 • | 6295000 | &nbsp;&nbsp;&nbsp; 6199858 |
|  |  | &nbsp;&nbsp;&nbsp; 11085912 |
| &nbsp;&nbsp;Basic Industry — 1.13% | &nbsp;&nbsp;Basic Industry — 1.13% | &nbsp;&nbsp;Basic Industry — 1.13% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form Technologies 9.62% (SOFR03M + 5.75%) 7/19/30 • | 5840650 | &nbsp;&nbsp;&nbsp; 5285788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hunter Douglas Holding Tranche B-1 6.672% (SOFR03M + 3.00%) 1/17/32 • | 7488679 | &nbsp;&nbsp;&nbsp; 7542508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ineos Quattro Holdings UK Tranche B 7.966% (SOFR01M + 4.25%) 10/7/31 • | 6481025 | &nbsp;&nbsp;&nbsp; 4407097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Usalco 7.216% (SOFR01M + 3.50%) 9/30/31 • | 5614176 | &nbsp;&nbsp;&nbsp; 5643999 |
|  |  | &nbsp;&nbsp;&nbsp; 22879392 |
| &nbsp;&nbsp;Capital Goods — 0.74% | &nbsp;&nbsp;Capital Goods — 0.74% | &nbsp;&nbsp;Capital Goods — 0.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clydesdale Acquisition Holdings Tranche B 6.966% (SOFR01M + 3.25%) 4/1/32 • | 2559114 | &nbsp;&nbsp;&nbsp; 2560048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lsf12 Crown US Commercial Bidco 7.373% (SOFR01M + 3.50%) 12/2/31 • | 7199978 | &nbsp;&nbsp;&nbsp; 7258478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SunSource Borrower 7.816% (SOFR01M + 4.10%) 3/25/31 • | 5105648 | &nbsp;&nbsp;&nbsp; 5110437 |
|  |  | &nbsp;&nbsp;&nbsp; 14928963 |
| &nbsp;&nbsp;Healthcare — 2.39% | &nbsp;&nbsp;Healthcare — 2.39% | &nbsp;&nbsp;Healthcare — 2.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bausch & Lomb 7.966% (SOFR01M + 4.25%) 1/15/31 • | 13754066 | &nbsp;&nbsp;&nbsp; 13835738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cotiviti 7.625% 5/1/31 | 14040000 | &nbsp;&nbsp;&nbsp; 13645125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Heartland Dental 7.466% (SOFR01M + 3.75%) 8/25/32 • | 20707505 | &nbsp;&nbsp;&nbsp; 20817503 |
|  |  | &nbsp;&nbsp;&nbsp; 48298366 |
| &nbsp;&nbsp;Leisure — 0.25% | &nbsp;&nbsp;Leisure — 0.25% | &nbsp;&nbsp;Leisure — 0.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Scientific Games Holdings 6.934% (SOFR03M + 3.00%) 4/4/29 • | 5176676 | &nbsp;&nbsp;&nbsp; 5093202 |
|  |  | &nbsp;&nbsp;&nbsp; 5093202 |

---

---

| | | |
|:---|:---|:---|
|  | **Principalamount<sup>°</sup>** | &nbsp;&nbsp;**Value (US $)** |
| &nbsp;&nbsp;**Loan Agreements (continued)** | &nbsp;&nbsp;**Loan Agreements (continued)** | &nbsp;&nbsp;**Loan Agreements (continued)** |
| &nbsp;&nbsp;Media — 0.23% | &nbsp;&nbsp;Media — 0.23% | &nbsp;&nbsp;Media — 0.23% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DirectV Financing Tranche B 9.34% (SOFR03M + 5.50%) 2/17/31 • | 3374800 | &nbsp;&nbsp;$3379808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Univision Communications 1st Lien 7.922% (SOFR03M + 4.25%) 6/24/29 • | 1129265 | &nbsp;&nbsp;&nbsp; 1133029 |
|  |  | &nbsp;&nbsp;&nbsp; 4512837 |
| &nbsp;&nbsp;Retail — 0.35% | &nbsp;&nbsp;Retail — 0.35% | &nbsp;&nbsp;Retail — 0.35% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Flynn Restaurant Group 7.466% (SOFR01M + 3.75%) 1/28/32 • | 7068585 | &nbsp;&nbsp;&nbsp; 7107243 |
|  |  | &nbsp;&nbsp;&nbsp; 7107243 |
| &nbsp;&nbsp;Technology & Electronics — 2.25% | &nbsp;&nbsp;Technology & Electronics — 2.25% | &nbsp;&nbsp;Technology & Electronics — 2.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Applied Systems 2nd Lien 8.172% (SOFR03M + 4.50%) 2/23/32 • | 13310000 | &nbsp;&nbsp;&nbsp; 13562890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clover Holdings 2 7.75% 12/9/31 | 14770775 | &nbsp;&nbsp;&nbsp; 14733848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commscope 8.466% (SOFR01M + 4.75%) 12/17/29 • | 12315000 | &nbsp;&nbsp;&nbsp; 12356563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Icon Parent I 8.841% (SOFR03M + 5.00%) 11/12/32 • | 4813000 | &nbsp;&nbsp;&nbsp; 4837065 |
|  |  | &nbsp;&nbsp;&nbsp; 45490366 |
| &nbsp;&nbsp;&nbsp;**Total Loan Agreements<br> (cost $160,967,198)** | &nbsp;&nbsp;&nbsp;**Total Loan Agreements<br> (cost $160,967,198)** | &nbsp;&nbsp;&nbsp; **159396281** |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** |  |
| &nbsp;&nbsp;**Common Stocks — 1.45%♣** | &nbsp;&nbsp;**Common Stocks — 1.45%♣** | &nbsp;&nbsp;**Common Stocks — 1.45%♣** |
| &nbsp;&nbsp;Consumer Discretionary — 1.00% | &nbsp;&nbsp;Consumer Discretionary — 1.00% | &nbsp;&nbsp;Consumer Discretionary — 1.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ASG Warrant =, †, π | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19688 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Studio City International Holdings ADR † | 5668119 | &nbsp;&nbsp; 20121823 |
|  |  | &nbsp;&nbsp; 20121823 |
| &nbsp;&nbsp;Energy — 0.04% | &nbsp;&nbsp;Energy — 0.04% | &nbsp;&nbsp;Energy — 0.04% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BIS Industries Holdings <<, =, †, π | 19682813 | &nbsp;&nbsp; 300005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maritime Finance = | 1750000 | &nbsp;&nbsp; 559623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sabine Oil & Gas Holdings <<, =, † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5385 | &nbsp;&nbsp; 6671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Westmoreland Coal <<, =, †, π | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4238 | &nbsp;&nbsp; 3179 |
|  |  | &nbsp;&nbsp; 869478 |

---

8 NQ- IV009 [1225] 0226 (5191660)

------

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | &nbsp;&nbsp;**Value (US $)** |
| &nbsp;&nbsp;**Common Stocks♣ (continued)** | &nbsp;&nbsp;**Common Stocks♣ (continued)** | &nbsp;&nbsp;**Common Stocks♣ (continued)** |
| &nbsp;&nbsp;Financials — 0.41% | &nbsp;&nbsp;Financials — 0.41% | &nbsp;&nbsp;Financials — 0.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Cotai <<, =, †, π | 20316462 | &nbsp;&nbsp;$8288527 |
|  |  | &nbsp;&nbsp;&nbsp; 8288527 |
| &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $78,541,956)** | &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $78,541,956)** | &nbsp;&nbsp;&nbsp; **29279828** |
| &nbsp;&nbsp;&nbsp;**Total Value of Securities—98.21%<br> (cost $2,011,157,700)** |  | &nbsp;&nbsp;&nbsp;**1984052123** |
| &nbsp;&nbsp;&nbsp;**Receivables and Other Assets Net of Liabilities—1.79%** |  | &nbsp;&nbsp;&nbsp; **36182314** |
| &nbsp;&nbsp;&nbsp;**Net Assets Applicable to 338,779,034 Shares Outstanding—100.00%** |  | &nbsp;&nbsp;**$2020234437** |

---

---

| | |
|:---|:---|
| ° | Principal amount shown is stated in USD unless noted that the security is denominated in another currency. |
| # | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At December 31, 2025, the aggregate value of Rule 144A securities was $1,611,682,482, which represents 79.78% of the Fund's net assets. |
| • | Variable rate investment. Rates reset periodically. Rate shown reflects the rate in effect at December 31, 2025. For securities based on a published reference rate and spread, the reference rate and spread are indicated in their descriptions. The reference rate descriptions (i.e. SOFR01M, SOFR03M, etc.) used in this report are identical for different securities, but the underlying reference rates may differ due to the timing of the reset period. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions, or for mortgage-backed securities, are impacted by the individual mortgages which are paying off over time. These securities do not indicate a reference rate and spread in their descriptions. |

---

---

| | |
|:---|:---|
| << | Affiliated company. |
| = | The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security. |
| >> | PIK. 100% of the income received was in the form of principal. |
| μ | Fixed to variable rate investment. The rate shown reflects the fixed rate in effect at December 31, 2025. Rate will reset at a future date. |
| ψ | Perpetual security. Maturity date represents next call date. |
| « | PIK. The first payment of cash and/or principal will be made after December 31, 2025. |
| > | PIK. 100% of the income received was in the form of cash. |
| ♣ | Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes. |
| † | Non-income producing security. |
| X | This loan will settle after December 31, 2025, at which time the interest rate, based on the SOFR and the agreed upon spread on trade date, will be reflected. |
| π | Restricted security. These investments are in securities not registered under the Securities Act of 1933, as amended, and have certain restrictions on resale which may limit their liquidity. At December 31, 2025, the aggregate value of restricted securities was $35,159,929, which represented 1.73% of the Fund's net assets. See Note 11 in "Notes to financial statements" and the table below for additional details on restricted securities. |

---

---

| | | | |
|:---|:---|:---|:---|
| **Restricted Securities** |  |  |  |
| Investments | Date of Acquisition | Cost | Value |
| ASG Warrant | &nbsp;&nbsp;&nbsp;5/30/18 | &nbsp;&nbsp;$1206000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$0 |
| BIS Industries Holdings | 12/22/17 | &nbsp;&nbsp;&nbsp;&nbsp;1852487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300005 |
| New Cotai | &nbsp;&nbsp;&nbsp;9/29/20 | &nbsp;&nbsp;&nbsp;10955614 | &nbsp;&nbsp;&nbsp;&nbsp;8288527 |
| New Cotai PIK | &nbsp;&nbsp;&nbsp;&nbsp;2/7/22 | &nbsp;&nbsp;&nbsp;25830323 | &nbsp;&nbsp;&nbsp;26568218 |
| Westmoreland Coal | &nbsp;&nbsp;&nbsp;3/15/19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3179 |
| Total |  | $39847603 | $35159929 |

---

#### Unfunded Loan Commitments
The Fund may invest in floating rate loans. In connection with these investments, the Fund may also enter into unfunded corporate loan commitments (commitments). Commitments may obligate the Fund to furnish temporary financing to a borrower until permanent financing can be arranged. In connection with these commitments, the Fund earns a commitment fee, typically set as a percentage of the commitment amount. The following unfunded loan commitment was outstanding at December 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Borrower | Principal<br> Amount | Value | Commitment | Unrealized<br> Appreciation<br> (Depreciation) |
| Usalco TBD 9/30/31 X | $584258 | $587362 | $584258 | $3104 |

---

---

| |
|:---|
| **Summary of abbreviations:** |
| ADR – American Depositary Receipt |
| CLO – Collateralized Loan Obligation |

---

NQ- IV009 [1225] 0226 (5191660) 9

------

## Schedule of investments
Nomura High Income Fund

---

| |
|:---|
| **Summary of abbreviations: (continued)** |
| LNG – Liquefied Natural Gas |
| PIK – Payment-in-kind |
| SOFR01M – Secured Overnight Financing Rate 1 Month |
| SOFR03M – Secured Overnight Financing Rate 3 Month |
| TBD – To be determined |
| TSFR03M – 3 Month Term Secured Overnight Financing Rate |
| USD – US Dollar |

---

10 NQ- IV009 [1225] 0226 (5191660)

## 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 FUNDS

- **b. Investment Company Act file number:** 811-06569

- **c. CIK number of Registrant:** 0000883622

- **d. LEI of Registrant:** UJ5MWG3K37CY01MVRY13

- **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:** Nomura High Income Fund

- **b. EDGAR series identifier (if any):** S000006289

- **c. LEI of Series:** 8Z7EZWQ148SYLG6G1226

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $2039775109.58

**Total Liabilities:** $33778025.86

**Net Assets:** $2005997083.72

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 75.05462000 | **1-Year:** 8046.15052000 | **5-Year:** 39504.75404000 | **10-Year:** 13105.98453000 | **30-Year:** 0.00000000

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

- **3-Month:** 3404.40592000 | **1-Year:** 187749.36512000 | **5-Year:** 307958.27952000 | **10-Year:** 15195.08728000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000017281 | 0.00%                | 0.37%                | 0.90%                |
| Class ID C000017283 | -0.23%               | 0.48%                | 0.84%                |
| Class ID C000017284 | -0.16%               | 0.54%                | 0.90%                |
| Class ID C000045546 | 0.03%                | 0.56%                | 0.75%                |
| Class ID C000122150 | -0.02%               | 0.52%                | 0.71%                |
| Class ID C000146681 | 0.03%                | 0.57%                | 0.93%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-15546530.26            | $3023794.11                                |
| Month 2  | $1109609.79              | $-2319029.04                               |
| Month 3  | $-1829189.89             | $8075718.45                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CSC HOLDINGS LLC               | CSC Holdings LLC                                                                | CUSIP: 126307BH9<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |  10380000 | PA      | $6356089.20   | 0.32%             | 2031-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LT | Golub Capital Partners CLO 76 B Ltd                                             | CUSIP: 38180CAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1150000 | PA      | $1154260.75   | 0.06%             | 2037-10-25      | Floating      | 9.61%                 | No            |                  2 | On Loan: No      |
| AMERIGAS PART/FIN CORP         | AmeriGas Partners LP / AmeriGas Finance Corp                                    | CUSIP: 030981AP9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3495000 | PA      | $3725603.60   | 0.19%             | 2030-06-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Lt | Benefit Street Partners CLO Ltd                                                 | CUSIP: 08182EAC6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2185000 | PA      | $2113760.26   | 0.11%             | 2038-04-20      | Floating      | 8.63%                 | No            |                  2 | On Loan: No      |
| TENNECO INC                    | TENNECO INC                                                                     | CUSIP: 88037HAP9<br>LEI: 549300U0EXXFAQFAD785 | Long             | LON              | CORP              | US        |   6295000 | PA      | $6199857.37   | 0.31%             | 2028-11-17      | Floating      | 8.95%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE          | Venture Global Plaquemines LNG LLC                                              | CUSIP: 922966AB2<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   7980000 | PA      | $8741998.23   | 0.44%             | 2035-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| EG GLOBAL FINANCE PLC          | EG Global Finance PLC                                                           | CUSIP: 28228PAC5<br>LEI: 549300TL8Q5207VYET27 | Long             | DBT              | CORP              | GB        |   2180000 | PA      | $2371844.36   | 0.12%             | 2028-11-30      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| NABORS INDUSTRIES INC          | Nabors Industries Inc                                                           | CUSIP: 62957HAQ8<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |   2821000 | PA      | $2738562.20   | 0.14%             | 2031-08-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                 | Bombardier Inc                                                                  | CUSIP: 097751CB5<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   6805000 | PA      | $7260240.89   | 0.36%             | 2031-07-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd              | Magnetite Xlv Ltd                                                               | CUSIP: 55956DAA7<br>LEI: 529900IK6R4NURGLMB37 | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2477670.00   | 0.12%             | 2038-04-15      | Floating      | 8.40%                 | No            |                  2 | On Loan: No      |
| PETSMART LLC/PETSMART FI       | PetSmart LLC / PetSmart Finance Corp                                            | CUSIP: 71677KAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2230000 | PA      | $2299324.01   | 0.11%             | 2033-09-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| GULFPORT ENERGY OP CORP        | Gulfport Energy Operating Corp                                                  | CUSIP: 402635AT3<br>LEI: 549300FJX18IDUFPHD40 | Long             | DBT              | CORP              | US        |  13705000 | PA      | $14170024.36  | 0.71%             | 2029-09-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA             | Banco Santander SA                                                              | CUSIP: 05964HBH7<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |  19200000 | PA      | $21253363.20  | 1.06%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                   | Barclays PLC                                                                    | CUSIP: 06738ECN3<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |  18050000 | PA      | $20523048.55  | 1.02%             | N/A             | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| VERSANT MEDIA GROUP INC        | Versant Media Group Inc                                                         | CUSIP: 925283AA1<br>LEI: 254900D2Q5F5F229PU30 | Long             | DBT              | CORP              | US        |   1352000 | PA      | $1395607.81   | 0.07%             | 2031-01-30      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ION PLATFORM FINANCE US        | ION Platform Finance US Inc                                                     | CUSIP: 46205QAB4<br>LEI: 213800FKHT3BRRKMCC89 | Long             | DBT              | CORP              | US        |  10900000 | PA      | $10356169.57  | 0.52%             | 2032-09-30      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC          | Civitas Resources Inc                                                           | CUSIP: 17888HAD5<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |  10970000 | PA      | $11851364.90  | 0.59%             | 2033-06-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| NEW COTAI EQUITY               | NEW COTAI EQUITY                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |  20316462 | NS      | $8288527.18   | 0.41%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BOMBARDIER INC                 | Bombardier Inc                                                                  | CUSIP: 097751CC3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   4945000 | PA      | $5231271.00   | 0.26%             | 2032-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                  | TransDigm Inc                                                                   | CUSIP: 893647BS5<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |  24815000 | PA      | $25981967.56  | 1.30%             | 2030-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                     | Carvana Co                                                                      | CUSIP: 146869AM4<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |   5475942 | PA      | $6182935.09   | 0.31%             | 2031-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| 720 East CLO Ltd.              | 720 East CLO 2022-I Ltd                                                         | CUSIP: 81785CAE4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2800000 | PA      | $2820554.80   | 0.14%             | 2038-01-20      | Floating      | 9.78%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit Partners       | OHA Credit Funding 11 Ltd                                                       | CUSIP: 67116BAG0<br>LEI: 2549002MG7GTTY5LHR97 | Long             | ABS-CBDO         | CORP              | BM        |   2200000 | PA      | $2198083.80   | 0.11%             | 2037-07-19      | Floating      | 9.28%                 | No            |                  2 | On Loan: No      |
| BATH & BODY WORKS INC          | Bath & Body Works Inc                                                           | CUSIP: 532716AK3<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |   1347000 | PA      | $1338958.54   | 0.07%             | 2033-03-01      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS       | CHS/Community Health Systems Inc                                                | CUSIP: 12543DBL3<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   3563000 | PA      | $2858036.58   | 0.14%             | 2030-04-01      | Fixed         | 6.12%                 | 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        |  10220000 | PA      | $9656692.00   | 0.48%             | 2032-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN          | Genesis Energy LP / Genesis Energy Finance Corp                                 | CUSIP: 37185LAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3320000 | PA      | $3463208.20   | 0.17%             | 2032-05-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC       | Celanese US Holdings LLC                                                        | CUSIP: 15089QBD5<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |  10274000 | PA      | $10444809.36  | 0.52%             | 2034-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO       | Clear Channel Outdoor Holdings Inc                                              | CUSIP: 18453HAH9<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |   6155000 | PA      | $6506580.99   | 0.32%             | 2033-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Babson CLO Ltd                 | Barings CLO Ltd 2018-II                                                         | CUSIP: 06760KAE2<br>LEI: 549300I8OP7Y4MO3JF74 | Long             | ABS-CBDO         | CORP              | KY        |   1800000 | PA      | $1790049.60   | 0.09%             | 2036-07-15      | Floating      | 10.80%                | No            |                  2 | On Loan: No      |
| CARVANA CO                     | Carvana Co                                                                      | CUSIP: 146869AN2<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |   5122650 | PA      | $5375683.30   | 0.27%             | 2030-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund        | Dryden 109 CLO Ltd                                                              | CUSIP: 26248LAE0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   3500000 | PA      | $3454006.50   | 0.17%             | 2038-04-15      | Floating      | 9.25%                 | No            |                  2 | On Loan: No      |
| Empower CLO Ltd.               | Empower CLO 2022-1 Ltd                                                          | CUSIP: 29246YAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2750000 | PA      | $2695715.00   | 0.13%             | 2037-10-20      | Floating      | 9.78%                 | No            |                  2 | On Loan: No      |
| Clover CLO                     | Clover CLO 2021-3 LLC                                                           | CUSIP: 18915FAJ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2280000 | PA      | $2259359.16   | 0.11%             | 2035-01-25      | Floating      | 8.76%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS ENT/SIX FLAG         | Six Flags Entertainment Corp /Six Flags Theme Parks Inc/ Canada's Wonderland Co | CUSIP: 83002YAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8435000 | PA      | $8510947.90   | 0.42%             | 2032-05-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| VZ SECURED FINANCING BV        | VZ Secured Financing BV                                                         | CUSIP: 91845AAB1<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |   5500000 | PA      | $5577317.90   | 0.28%             | 2033-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS        | Frontier Communications Holdings LLC                                            | CUSIP: 35906ABG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  17150000 | PA      | $17290931.84  | 0.86%             | 2029-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                  | COMMSCOPE LLC                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  12315000 | PA      | $12356563.13  | 0.62%             | 2029-12-17      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategi | CARLYLE US CLO 2021-11 LTD                                                      | CUSIP: 143124AG0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1973030.00   | 0.10%             | 2037-07-25      | Floating      | 10.36%                | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd          | Palmer Square CLO 2024-2 LTD                                                    | CUSIP: 69703LAL2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2502175.00   | 0.12%             | 2037-07-20      | Floating      | 8.23%                 | No            |                  2 | On Loan: No      |
| Invesco CLO LTD                | Invesco US CLO 2023-4 Ltd                                                       | CUSIP: 46091YAA6<br>LEI: 254900CLWY1AN9F4PD86 | Long             | ABS-CBDO         | CORP              | JE        |   1200000 | PA      | $1196983.20   | 0.06%             | 2037-01-18      | Floating      | 11.89%                | No            |                  2 | On Loan: No      |
| ARDONAGH FINCO LTD             | Ardonagh Finco Ltd                                                              | CUSIP: 039853AA4<br>LEI: 254900D2T84O1K03BA28 | Long             | DBT              | CORP              | JE        |  16665000 | PA      | $17482831.54  | 0.87%             | 2031-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| NEW COTAI EQUITY               | NEW COTAI EQUITY                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  26049124 | PA      | $26568217.32  | 1.32%             | 2027-02-02      | Fixed         | 5.00%                 | Yes           |                  3 | On Loan: No      |
| GENESIS ENERGY LP/FIN          | Genesis Energy LP / Genesis Energy Finance Corp                                 | CUSIP: 37185LAL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6520000 | PA      | $6550913.28   | 0.33%             | 2028-02-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| TCW Gem Ltd                    | TCW CLO 2024-2 Ltd                                                              | CUSIP: 87252HAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2476512.50   | 0.12%             | 2037-07-17      | Floating      | 11.13%                | No            |                  2 | On Loan: No      |
| Oaktree CLO Ltd                | Oaktree CLO 2020-1 Ltd                                                          | CUSIP: 67402GAG2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2800000 | PA      | $2730831.60   | 0.14%             | 2038-01-15      | Floating      | 8.90%                 | No            |                  2 | On Loan: No      |
| RADIOLOGY PARTNERS INC         | Radiology Partners Inc                                                          | CUSIP: 75041VAE4<br>LEI: 549300SFTAG2177WUZ08 | Long             | DBT              | CORP              | US        |   3735000 | PA      | $3906389.81   | 0.19%             | 2032-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CIMPRESS PLC                   | Cimpress PLC                                                                    | CUSIP: 17186HAH5<br>LEI: 549300X1IFD75XISOR81 | Long             | DBT              | CORP              | IE        |   9505000 | PA      | $9707017.37   | 0.48%             | 2032-09-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC       | Permian Resources Operating LLC                                                 | CUSIP: 27034RAC7<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |   2090000 | PA      | $2253655.36   | 0.11%             | 2031-07-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| AGL CLO 3 Ltd.                 | AGL CLO 3 LTD                                                                   | CUSIP: 00119NAE7<br>LEI: 549300LS0REDUXQSHW18 | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2334620.00   | 0.12%             | 2038-04-15      | Floating      | 9.15%                 | No            |                  2 | On Loan: No      |
| Storm King Park CLO, Ltd       | Storm King Park CLO LTD                                                         | CUSIP: 862179AG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   2850000 | PA      | $2817424.50   | 0.14%             | 2037-10-15      | Floating      | 10.05%                | No            |                  2 | On Loan: No      |
| SCIENTIFIC GAMES HOLDIN        | SCIENTIFIC GAMES HOLDINGS LP                                                    | CUSIP: 80875CAE7<br>LEI: 549300W5GPFXXB6TQ330 | Long             | LON              | CORP              | US        |   2454720 | PA      | $2415137.33   | 0.12%             | 2029-04-04      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| UWM HOLDINGS LLC               | UWM Holdings LLC                                                                | CUSIP: 903522AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4054000 | PA      | $4107711.45   | 0.20%             | 2030-02-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING         | XPLR Infrastructure Operating Partners LP                                       | CUSIP: 98380MAA3<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |   2270000 | PA      | $2386759.72   | 0.12%             | 2031-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| MAGNERA CORP                   | Magnera Corp                                                                    | CUSIP: 55939AAA5<br>LEI: 549300LDQLQBT38QDY28 | Long             | DBT              | CORP              | US        |  18481000 | PA      | $18161371.11  | 0.91%             | 2031-11-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Symphony CLO Ltd               | Symphony CLO 39 Ltd                                                             | CUSIP: 87169UAE7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | BM        |   3750000 | PA      | $3701501.25   | 0.18%             | 2038-01-25      | Floating      | 9.36%                 | No            |                  2 | On Loan: No      |
| Silver Point CLO, Ltd          | Silver Point Clo 5 Ltd                                                          | CUSIP: 82809HAA1<br>LEI: 254900IB4JHW6SUR0Q75 | Long             | ABS-CBDO         | CORP              | KY        |   2700000 | PA      | $2705634.90   | 0.13%             | 2037-10-20      | Floating      | 10.28%                | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                 | Gray Media Inc                                                                  | CUSIP: 389375AP1<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |   4905000 | PA      | $5015013.26   | 0.25%             | 2033-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| WINDSTREAM SERVICES LLC        | Windstream Services LLC                                                         | CUSIP: 97382BAB5<br>LEI: 549300KT9GVEBYCD2N29 | Long             | DBT              | CORP              | US        |   5678000 | PA      | $5825388.96   | 0.29%             | 2033-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC           | Cleveland-Cliffs Inc                                                            | CUSIP: 185899AP6<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |   8930000 | PA      | $9164416.97   | 0.46%             | 2032-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| AZORRA FINANCE                 | Azorra Finance Ltd                                                              | CUSIP: 05480AAA3<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |  13970000 | PA      | $14805182.48  | 0.74%             | 2030-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Bausch + Lomb Corp             | Bausch & Lomb TE 12/18/30                                                       | CUSIP: 000000000<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |  13754066 | PA      | $13835737.58  | 0.69%             | 2031-01-15      | Floating      | 7.98%                 | No            |                  2 | On Loan: No      |
| Babson CLO Ltd                 | Barings CLO Ltd 2024-II                                                         | CUSIP: 067937AA0<br>LEI: 549300KMDW0AZOKOC583 | Long             | ABS-CBDO         | CORP              | KY        |   2100000 | PA      | $2096257.80   | 0.10%             | 2039-07-15      | Floating      | 9.80%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA BUYER/ATLANTI       | California Buyer Ltd / Atlantica Sustainable Infrastructure PLC                 | CUSIP: 13005HAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |   9177000 | PA      | $9212001.08   | 0.46%             | 2032-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Oaktree CLO Ltd                | Oaktree CLO 2019-3 Ltd                                                          | CUSIP: 67400GAG4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3300000 | PA      | $3247110.90   | 0.16%             | 2038-01-20      | Floating      | 10.63%                | No            |                  2 | On Loan: No      |
| JEFFERIES FIN LLC / JFIN       | Jefferies Finance LLC / JFIN Co-Issuer Corp                                     | CUSIP: 47232MAG7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13600000 | PA      | $13394233.36  | 0.67%             | 2031-10-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd       | Madison Park Funding XXX LTD                                                    | CUSIP: 55822HAG7<br>LEI: 549300FFTJ3WPTJK8589 | Long             | ABS-CBDO         | CORP              | KY        |   2100000 | PA      | $2064470.10   | 0.10%             | 2037-07-16      | Floating      | 10.29%                | No            |                  2 | On Loan: No      |
| ORGANON & CO/ORGANON FOR       | Organon & Co / Organon Foreign Debt Co-Issuer BV                                | CUSIP: 68622TAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  11228000 | PA      | $9307282.18   | 0.46%             | 2031-04-30      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C       | Outfront Media Capital LLC / Outfront Media Capital Corp                        | CUSIP: 69007TAG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2335000 | PA      | $2472940.13   | 0.12%             | 2031-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                  | TransDigm Inc                                                                   | CUSIP: 893647BV8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |  10260000 | PA      | $10687523.94  | 0.53%             | 2032-03-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| HOWDEN UK REFINANCE / US       | Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC   | CUSIP: 44287GAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |   9350000 | PA      | $9634652.34   | 0.48%             | 2031-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD          | Mineral Resources Ltd                                                           | CUSIP: 603051AE3<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |   3455000 | PA      | $3629133.04   | 0.18%             | 2028-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC        | American Axle & Manufacturing Inc                                               | CUSIP: 02406PBD1<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |   2390000 | PA      | $2435741.25   | 0.12%             | 2033-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| TRIVIUM PACKAGING FIN          | Trivium Packaging Finance BV                                                    | CUSIP: 89686QAD8<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |   2304000 | PA      | $2471618.30   | 0.12%             | 2030-07-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| TEREX CORP                     | Terex Corp                                                                      | CUSIP: 880779BB8<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | DBT              | CORP              | US        |  13020000 | PA      | $13367712.12  | 0.67%             | 2032-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT         | Mauser Packaging Solutions Holding Co                                           | CUSIP: 57763RAE7<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |   9035000 | PA      | $8972074.84   | 0.45%             | 2030-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ILIAD HOLDING SAS              | Iliad Holding SAS                                                               | CUSIP: 449691AF1<br>LEI: 9695009BGMXB527HV965 | Long             | DBT              | CORP              | FR        |  20110000 | PA      | $21656438.89  | 1.08%             | 2031-04-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ATHENAHEALTH GROUP INC         | AthenaHealth Group Inc                                                          | CUSIP: 60337JAA4<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | DBT              | CORP              | US        |  10920000 | PA      | $10896418.26  | 0.54%             | 2030-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| WILLIAM CARTER                 | William Carter Co/The                                                           | CUSIP: 96926JAG2<br>LEI: TGI2A0HXEYNQPU7TYV27 | Long             | DBT              | CORP              | US        |   5108000 | PA      | $5287556.42   | 0.26%             | 2031-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| BBAM US CLO LTD.               | BBAM US CLO III Ltd                                                             | CUSIP: 054972AE4<br>LEI: 54930064Z7YZMOXBC128 | Long             | ABS-CBDO         | CORP              | KY        |   3550000 | PA      | $3497193.75   | 0.17%             | 2038-10-15      | Floating      | 9.14%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LT | Golub Capital Partners CLO 62B Ltd                                              | CUSIP: 38180EAA9<br>LEI: 2549009X711NFO0AZT83 | Long             | ABS-CBDO         | CORP              | JE        |   1150000 | PA      | $1138942.75   | 0.06%             | 2037-10-15      | Floating      | 10.30%                | No            |                  2 | On Loan: No      |
| CUMULUS MEDIA NEW HLDGS        | Cumulus Media New Holdings Inc                                                  | CUSIP: 23110AAB2<br>LEI: 5493001D9VBAVY1OKJ46 | Long             | DBT              | CORP              | US        |  18686000 | PA      | $5138650.00   | 0.26%             | 2029-07-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ARCHROCK PARTNERS LP/FIN       | Archrock Partners LP / Archrock Partners Finance Corp                           | CUSIP: 03959KAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7980000 | PA      | $8235559.50   | 0.41%             | 2032-09-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| RESIDEO FUNDING INC            | Resideo Funding Inc                                                             | CUSIP: 76119LAD3<br>LEI: 5493000IFJ6XJKH66598 | Long             | DBT              | CORP              | US        |  11765000 | PA      | $12056572.00  | 0.60%             | 2032-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SEALED AIR/SEALED AIR US       | Sealed Air Corp/Sealed Air Corp US                                              | CUSIP: 812127AB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3565000 | PA      | $3716840.48   | 0.19%             | 2031-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| True Religion 2026 Escrow      | True Religion 2026 Escrow                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       395 | NS      | $379456.85    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| WILLIAMS SCOTSMAN INC          | Williams Scotsman Inc                                                           | CUSIP: 96949VAN3<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |   8510000 | PA      | $8825755.04   | 0.44%             | 2030-04-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS       | CHS/Community Health Systems Inc                                                | CUSIP: 12543DBQ2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   8175000 | PA      | $8596655.06   | 0.43%             | 2034-01-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                    | Vistra Corp                                                                     | CUSIP: 92840MAB8<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |  17255000 | PA      | $17755605.51  | 0.89%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| MIDAS OPCO HOLDINGS LLC        | Stagwell Global LLC                                                             | CUSIP: 59565JAA9<br>LEI: 984500904E015Z0C1F82 | Long             | DBT              | CORP              | US        |  14375000 | PA      | $14028747.94  | 0.70%             | 2029-08-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| TOUCAN FINCO LTD/CAN/US        | Toucan FinCo Ltd/Toucan FinCo Can Inc/Toucan FinCo US LLC                       | CUSIP: 89157UAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   3884000 | PA      | $3882199.77   | 0.19%             | 2030-05-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP       | Hilcorp Energy I LP / Hilcorp Finance Co                                        | CUSIP: 431318BG8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  11435000 | PA      | $10874423.14  | 0.54%             | 2035-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Ballyrock Ltd                  | Ballyrock CLO 25 Ltd                                                            | CUSIP: 05875WAA8<br>LEI: 2549000LY2B016K4LA62 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $2960184.00   | 0.15%             | 2038-01-25      | Floating      | 8.66%                 | No            |                  2 | On Loan: No      |
| FIESTA PURCHASER INC           | Fiesta Purchaser Inc                                                            | CUSIP: 31659AAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9560000 | PA      | $10042932.96  | 0.50%             | 2032-09-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| ABPCI Direct Lending Fund CLO  | ABPCI Direct Lending Fund CLO II LLC                                            | CUSIP: 000840AG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2015868.00   | 0.10%             | 2037-07-20      | Floating      | 11.38%                | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT         | Mauser Packaging Solutions Holding Co                                           | CUSIP: 57763RAF4<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |  13205000 | PA      | $12742825.00  | 0.64%             | 2030-04-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| USALCO LLC                     | USALCO LLC                                                                      | CUSIP: 91732NAP8<br>LEI: 5493006WBYB0CYPCSG20 | Long             | LON              | CORP              | US        |    584258 | PA      | $587361.82    | 0.03%             | 2031-09-30      | Floating      | 7.34%                 | No            |                  2 | On Loan: No      |
| JONES DESLAURIERS INSURA       | Jones Deslauriers Insurance Management Inc                                      | CUSIP: 48020RAB1<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |  21010000 | PA      | $22035351.03  | 1.10%             | 2030-03-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                    | Vistra Corp                                                                     | CUSIP: 92840MAC6<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |  32965000 | PA      | $33663979.97  | 1.68%             | N/A             | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategi | Carlyle US CLO 2024-5 Ltd                                                       | CUSIP: 14319LAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1600000 | PA      | $1604544.00   | 0.08%             | 2036-10-25      | Floating      | 9.51%                 | No            |                  2 | On Loan: No      |
| CROSSCOUNTRY INTER             | CrossCountry Intermediate HoldCo LLC                                            | CUSIP: 22757VAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10900000 | PA      | $11131581.40  | 0.55%             | 2030-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO, Limit | Bain Capital Credit CLO 2017-2 Ltd                                              | CUSIP: 05682TAG5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1974482.00   | 0.10%             | 2037-07-25      | Floating      | 11.20%                | 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        |   2330000 | PA      | $2224011.56   | 0.11%             | 2031-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD          | HUB International Ltd                                                           | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |   5860000 | PA      | $6155813.39   | 0.31%             | 2030-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO IX Ltd             | Elmwood CLO IX Ltd                                                              | CUSIP: 29003VAE7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2435037.50   | 0.12%             | 2038-04-20      | Floating      | 8.53%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC           | Cleveland-Cliffs Inc                                                            | CUSIP: 18589GAA3<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |   6850000 | PA      | $7163634.10   | 0.36%             | 2034-01-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC              | Herc Holdings Inc                                                               | CUSIP: 42704LAG9<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |   2595000 | PA      | $2753227.79   | 0.14%             | 2033-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit Partners       | OHA Credit Funding 9 Ltd                                                        | CUSIP: 67114DAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2550000 | PA      | $2557423.05   | 0.13%             | 2037-10-19      | Floating      | 9.38%                 | No            |                  2 | On Loan: No      |
| VOLTAGRID LLC                  | VoltaGrid LLC                                                                   | CUSIP: 92874BAA3<br>LEI: 254900R5BEUGIKK1FM03 | Long             | DBT              | CORP              | US        |   2116000 | PA      | $2097444.16   | 0.10%             | 2030-11-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| ARCOSA INC                     | Arcosa Inc                                                                      | CUSIP: 039653AC4<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |   6865000 | PA      | $7263132.24   | 0.36%             | 2032-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST        | Starwood Property Trust Inc                                                     | CUSIP: 85571BBD6<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |   4116000 | PA      | $4307900.27   | 0.21%             | 2030-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP           | OneMain Finance Corp                                                            | CUSIP: 682691AH3<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   9277000 | PA      | $9620193.34   | 0.48%             | 2029-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| WAND NEWCO 3 INC               | Wand NewCo 3 Inc                                                                | CUSIP: 933940AA6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | DBT              | CORP              | US        |  13368000 | PA      | $14154439.44  | 0.71%             | 2032-01-30      | Fixed         | 7.62%                 | 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        |   5582000 | PA      | $5780615.37   | 0.29%             | 2029-03-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS       | Univision Communications Inc                                                    | CUSIP: 914906AX0<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |   8345000 | PA      | $8511866.62   | 0.42%             | 2030-06-30      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC          | Directv Financing LLC                                                           | CUSIP: 25461LAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2530000 | PA      | $2565928.02   | 0.13%             | 2030-02-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| MCGRAW-HILL EDUCATION          | McGraw-Hill Education Inc                                                       | CUSIP: 58064LAA2<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | DBT              | CORP              | US        |  16282000 | PA      | $17190893.80  | 0.86%             | 2031-09-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| ABPCI Direct Lending Fund CLO  | ABPCI Direct Lending Fund CLO II LLC                                            | CUSIP: 000823BC7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $998623.00    | 0.05%             | 2037-07-20      | Floating      | 8.03%                 | No            |                  2 | On Loan: No      |
| 1261229 BC LTD                 | 1261229 BC Ltd                                                                  | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   5295000 | PA      | $5510860.74   | 0.27%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CAPSTONE BORROWER INC          | Capstone Borrower Inc                                                           | CUSIP: 140944AA7<br>LEI: 254900YSP2BAI3YKIX08 | Long             | DBT              | CORP              | US        |   4890000 | PA      | $5040972.88   | 0.25%             | 2030-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Eaton Vance CLO | Morgan Stanley Eaton Vance CLO 2025-21 Ltd                                      | CUSIP: 617935AA9<br>LEI: 254900LVH0JZLB93FN88 | Long             | ABS-CBDO         | CORP              | KY        |   1090000 | PA      | $1066610.78   | 0.05%             | 2038-04-15      | Floating      | 8.60%                 | No            |                  2 | On Loan: No      |
| BRANDYWINE OPER PARTNERS       | Brandywine Operating Partnership LP                                             | CUSIP: 105340AS2<br>LEI: IXBXSCONLDQ1ZI73YU71 | Long             | DBT              | CORP              | US        |   2265000 | PA      | $2442921.87   | 0.12%             | 2029-04-12      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| CLOVER HOLDINGS 2 LLC          | CLOVER HOLDINGS 2 LLC                                                           | CUSIP: 18914DAC2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  14770775 | PA      | $14733848.06  | 0.73%             | 2031-12-09      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| VOYAGER PARENT LLC             | Voyager Parent LLC                                                              | CUSIP: 92921EAA0<br>LEI: 2549002DYVI4ACSV4V71 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3716058.50   | 0.19%             | 2032-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| FIESTA PURCHASER INC           | Fiesta Purchaser Inc                                                            | CUSIP: 31659AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6406000 | PA      | $6710105.63   | 0.33%             | 2031-03-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN       | Rogers Communications Inc                                                       | CUSIP: 775109DH1<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |  10860000 | PA      | $11441484.58  | 0.57%             | 2055-04-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC        | Light & Wonder International Inc                                                | CUSIP: 80874YBE9<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |   6265000 | PA      | $6437858.87   | 0.32%             | 2029-11-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| WULF COMPUTE LLC               | WULF Compute LLC                                                                | CUSIP: 982911AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4024000 | PA      | $4148777.80   | 0.21%             | 2030-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| MIDCONTINENT COMMUNICATI       | Midcontinent Communications                                                     | CUSIP: 59565XAD2<br>LEI: 549300ZI9GDQBS28C408 | Long             | DBT              | CORP              | US        |  13065000 | PA      | $13389991.88  | 0.67%             | 2032-08-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| WESTMORELAND COAL              | WESTMORELAND COAL                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4238 | NS      | $3178.76      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PANTHER ESCROW ISSUER          | Panther Escrow Issuer LLC                                                       | CUSIP: 69867RAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13925000 | PA      | $14438526.15  | 0.72%             | 2031-06-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INTERNTNL LTD       | Transocean International Ltd                                                    | CUSIP: 893830BZ1<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |   5610000 | PA      | $5560580.95   | 0.28%             | 2031-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BIS INDUSTRIES (ARTSONIG)      | BIS INDUSTRIES (ARTSONIG)                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |  19682813 | NS      | $300005.51    | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| AMENTUM HOLDINGS INC           | Amentum Holdings Inc                                                            | CUSIP: 02352BAA3<br>LEI: 2549009FJIBLW40CU216 | Long             | DBT              | CORP              | US        |  10945000 | PA      | $11543461.66  | 0.58%             | 2032-08-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd          | KKR CLO 27 LTD                                                                  | CUSIP: 48254AAG4<br>LEI: 5493007WGG1LNIZXEI24 | Long             | ABS-CBDO         | CORP              | KY        |   3450000 | PA      | $3298493.25   | 0.16%             | 2035-01-15      | Floating      | 10.15%                | No            |                  2 | On Loan: No      |
| AMC NETWORKS INC               | AMC Networks Inc                                                                | CUSIP: 00164VAG8<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |   5730000 | PA      | $6012443.16   | 0.30%             | 2029-01-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| BATH & BODY WORKS INC          | Bath & Body Works Inc                                                           | CUSIP: 501797AL8<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |  22735000 | PA      | $23023918.65  | 1.15%             | 2035-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS        | FTAI Aviation Investors LLC                                                     | CUSIP: 34960PAG6<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |  13995000 | PA      | $14723061.89  | 0.73%             | 2032-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                      | Block Inc                                                                       | CUSIP: 852234AS2<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |  10420000 | PA      | $10842166.30  | 0.54%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GOAT HOLDCO LLC                | Goat Holdco LLC                                                                 | CUSIP: 38021MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6220000 | PA      | $6393289.20   | 0.32%             | 2032-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| QXO BUILDING PRODUCTS          | QXO Building Products Inc                                                       | CUSIP: 74825NAA5<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |   2891000 | PA      | $3021727.26   | 0.15%             | 2032-04-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ARSENAL AIC PARENT LLC         | Arsenal AIC Parent LLC                                                          | CUSIP: 04288BAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10935000 | PA      | $11617462.10  | 0.58%             | 2030-10-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| USI INC/NY                     | USI Inc/NY                                                                      | CUSIP: 90346KAB5<br>LEI: 2549006D7UF7072T7I27 | Long             | DBT              | CORP              | US        |  10450000 | PA      | $10965488.05  | 0.55%             | 2032-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Cedar Funding Ltd              | Cedar Funding IX CLO Ltd                                                        | CUSIP: 15033FAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2009964.00   | 0.10%             | 2037-07-20      | Floating      | 11.41%                | No            |                  2 | On Loan: No      |
| SM ENERGY CO                   | SM Energy Co                                                                    | CUSIP: 78454LAY6<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |   6074000 | PA      | $5974985.30   | 0.30%             | 2032-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FOCUS FINANCIAL PARTNERS       | Focus Financial Partners LLC                                                    | CUSIP: 34417VAA5<br>LEI: 5493007L0E0VKRC2CP39 | Long             | DBT              | CORP              | US        |  13172000 | PA      | $13550017.96  | 0.68%             | 2031-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HOWDEN UK REFINANCE / US       | Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC   | CUSIP: 44287DAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |   8375000 | PA      | $8652313.00   | 0.43%             | 2032-02-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| LINDBLAD EXPEDITIONS LLC       | Lindblad Expeditions LLC                                                        | CUSIP: 53523LAB6<br>LEI: 549300MPUWOG67Y2R254 | Long             | DBT              | CORP              | US        |   2205000 | PA      | $2301259.28   | 0.11%             | 2030-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                   | UBS Group AG                                                                    | CUSIP: 225401BJ6<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   9500000 | PA      | $9740821.20   | 0.49%             | N/A             | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| SNAP INC                       | Snap Inc                                                                        | CUSIP: 83304AAL0<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |  12620000 | PA      | $13087384.22  | 0.65%             | 2033-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC       | Permian Resources Operating LLC                                                 | CUSIP: 71424VAA8<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |   4495000 | PA      | $4701776.29   | 0.23%             | 2032-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MOHEGAN TRIBAL / MS DIG        | Mohegan Tribal Gaming Authority / MS Digital Entertainment Holdings LLC         | CUSIP: 60832QAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3226000 | PA      | $3371337.75   | 0.17%             | 2030-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                  | CoreWeave Inc                                                                   | CUSIP: 21873SAC2<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |   2230000 | PA      | $2046627.10   | 0.10%             | 2031-02-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                 | NRG Energy Inc                                                                  | CUSIP: 629377CX8<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |  13570000 | PA      | $13949349.35  | 0.70%             | 2034-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| APPLIED SYSTEMS INC            | APPLIED SYSTEMS INC                                                             | CUSIP: 03827FBC4<br>LEI: 549300NSKGF0SY5SWQ62 | Long             | LON              | CORP              | US        |  13310000 | PA      | $13562890.00  | 0.68%             | 2032-02-23      | Floating      | 8.38%                 | No            |                  2 | On Loan: No      |
| Aimco                          | AIMCO CLO 18 Ltd                                                                | CUSIP: 00889FAG7<br>LEI: 2549005IX0D6XDJNNS95 | Long             | ABS-CBDO         | CORP              | JE        |    850000 | PA      | $846736.00    | 0.04%             | 2037-07-20      | Floating      | 9.38%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS       | CHS/Community Health Systems Inc                                                | CUSIP: 12543DBJ8<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   3555000 | PA      | $3167327.25   | 0.16%             | 2029-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| PARADIGM PRNT/CO-ISSUER        | Paradigm Parent LLC and Paradigm Parent CO-Issuer Inc                           | CUSIP: 69902PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2400000 | PA      | $2176464.00   | 0.11%             | 2032-04-17      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN       | RHP Hotel Properties LP / RHP Finance Corp                                      | CUSIP: 749571AJ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2390000 | PA      | $2466147.79   | 0.12%             | 2028-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK FINANCING I         | Vmed O2 UK Financing I PLC                                                      | CUSIP: 92858RAD2<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |  11765000 | PA      | $12275012.75  | 0.61%             | 2032-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO                | Nissan Motor Co Ltd                                                             | CUSIP: 654922AD5<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |   4475000 | PA      | $4759262.74   | 0.24%             | 2035-07-17      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| UKG INC                        | UKG Inc                                                                         | CUSIP: 90279XAA0<br>LEI: 529900FKHWSTQ1GXK240 | Long             | DBT              | CORP              | US        |  12225000 | PA      | $12576994.43  | 0.63%             | 2031-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CERDIA FINANZ GMBH             | Cerdia Finanz GmbH                                                              | CUSIP: 15679GAC6<br>LEI: 391200KURNDJSX9GX570 | Long             | DBT              | CORP              | DE        |  13700000 | PA      | $14230875.00  | 0.71%             | 2031-10-03      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| TCW Gem Ltd                    | TCW CLO 2022-1 Ltd                                                              | CUSIP: 871978AE2<br>LEI: 254900KPK0PRXM6I7271 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1980526.00   | 0.10%             | 2038-01-20      | Floating      | 10.38%                | No            |                  2 | On Loan: No      |
| Babson CLO Ltd                 | Barings CLO Ltd 2024-V                                                          | CUSIP: 06763YAN9<br>LEI: 25490047AECQPJIDJC73 | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2504437.50   | 0.12%             | 2038-07-15      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| SURGERY CENTER HOLDINGS        | Surgery Center Holdings Inc                                                     | CUSIP: 86881WAF9<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |  14265000 | PA      | $14446426.55  | 0.72%             | 2032-04-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| NATIONAL MENTOR HOLDINGS       | National Mentor Holdings Inc                                                    | CUSIP: 63688RAF4<br>LEI: 5493004QULJVJP3CNZ62 | Long             | DBT              | CORP              | US        |   1448000 | PA      | $1457018.43   | 0.07%             | 2030-12-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| NABORS INDUSTRIES INC          | Nabors Industries Inc                                                           | CUSIP: 62957HAP0<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |   5178000 | PA      | $5433016.50   | 0.27%             | 2030-01-31      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN       | Clarios Global LP / Clarios US Finance Co                                       | CUSIP: 18060TAE5<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   5555000 | PA      | $5763798.56   | 0.29%             | 2032-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| S&S HOLDINGS LLC               | S&S Holdings LLC                                                                | CUSIP: 78525CAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5390000 | PA      | $5169531.75   | 0.26%             | 2031-10-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Aimco                          | Aimco CLO 19 Ltd                                                                | CUSIP: 00140JAA7<br>LEI: 2549006V0NZR61IYZY19 | Long             | ABS-CBDO         | CORP              | JE        |   2100000 | PA      | $2100107.10   | 0.10%             | 2037-10-20      | Floating      | 8.88%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC              | Herc Holdings Inc                                                               | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |   3810000 | PA      | $4012019.15   | 0.20%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| RAKUTEN GROUP INC              | Rakuten Group Inc                                                               | CUSIP: 75102WAG3<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |   4520000 | PA      | $4836853.81   | 0.24%             | 2027-02-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC          | Quikrete Holdings Inc                                                           | CUSIP: 74843PAB6<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |  12800000 | PA      | $13375759.36  | 0.67%             | 2033-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| RAVEN ACQUISITION HOLDIN       | Raven Acquisition Holdings LLC                                                  | CUSIP: 75420NAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10235000 | PA      | $10556184.54  | 0.53%             | 2031-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Bear Mountain Park CLO, Ltd    | Bear Mountain Park CLO Ltd                                                      | CUSIP: 07403KAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1500000 | PA      | $1482972.00   | 0.07%             | 2037-07-15      | Floating      | 9.85%                 | No            |                  2 | On Loan: No      |
| VICTRA HLDG/VICTRA FIN         | Victra Holdings LLC / Victra Finance Corp                                       | CUSIP: 92648DAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  16325000 | PA      | $17304140.85  | 0.86%             | 2029-09-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Brookhaven Park CLO Ltd        | Brookhaven Park CLO LTD                                                         | CUSIP: 113525AA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3500000 | PA      | $3476714.50   | 0.17%             | 2037-04-19      | Floating      | 10.38%                | No            |                  2 | On Loan: No      |
| STAPLES INC                    | Staples Inc                                                                     | CUSIP: 855030AQ5<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |  13525000 | PA      | $13463335.47  | 0.67%             | 2029-09-01      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| HUNTER DOUGLAS INC             | HUNTER DOUGLAS INC                                                              | CUSIP: 000000000<br>LEI: 529900811T142NS3H544 | Long             | LON              | CORP              | US        |   7488679 | PA      | $7542508.07   | 0.38%             | 2032-01-20      | Floating      | 7.13%                 | No            |                  2 | On Loan: No      |
| FLYNN RESTAURANT GROUP         | FLYNN RESTAURANT GROUP LP                                                       | CUSIP: 34410JAG6<br>LEI: 5493008VE8TQONGO3817 | Long             | LON              | CORP              | US        |   7068585 | PA      | $7107243.09   | 0.35%             | 2032-01-28      | Floating      | 7.47%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd       | Neuberger Berman Loan Advisers CLO 59 Ltd                                       | CUSIP: 640962AL0<br>LEI: 254900ERHU6RJHYSL744 | Long             | ABS-CBDO         | CORP              | KY        |   1100000 | PA      | $1094489.00   | 0.05%             | 2039-01-23      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA           | Royal Bank of Canada                                                            | CUSIP: 780082AY9<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |  11010000 | PA      | $10971498.03  | 0.55%             | 2085-11-24      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI       | Standard Building Solutions Inc                                                 | CUSIP: 853191AA2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |  13825000 | PA      | $14243150.95  | 0.71%             | 2032-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MATADOR RESOURCES CO           | Matador Resources Co                                                            | CUSIP: 576485AH9<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |   9555000 | PA      | $9604208.25   | 0.48%             | 2033-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ADVANTAGE SALES & MARKET       | Advantage Sales & Marketing Inc                                                 | CUSIP: 00775PAA5<br>LEI: 549300T4O24KQDED1182 | Long             | DBT              | CORP              | US        |   6684000 | PA      | $5469383.52   | 0.27%             | 2028-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN       | Clarios Global LP / Clarios US Finance Co                                       | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   9628000 | PA      | $10076279.68  | 0.50%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| USALCO LLC                     | USALCO LLC                                                                      | CUSIP: 91732NAN3<br>LEI: 5493006WBYB0CYPCSG20 | Long             | LON              | CORP              | US        |   5614176 | PA      | $5643998.62   | 0.28%             | 2031-09-30      | Floating      | 7.34%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 17 Ltd             | Elmwood CLO 17 Ltd                                                              | CUSIP: 29003GAE0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1977084.00   | 0.10%             | 2037-07-17      | Floating      | 9.58%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                 | Bombardier Inc                                                                  | CUSIP: 097751CA7<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   5590000 | PA      | $6046468.22   | 0.30%             | 2030-11-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Studio City International Hold | Studio City International Holdings Ltd                                          | CUSIP: 86389T106<br>LEI: N/A                  | Long             | EC               | CORP              | HK        |   5668119 | NS      | $20121822.45  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Palmer Square CLO Ltd          | Palmer Square CLO 2018-1 Ltd                                                    | CUSIP: 69689GAE7<br>LEI: 549300A8L0VCZ9626397 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $997975.00    | 0.05%             | 2037-04-18      | Floating      | 10.82%                | No            |                  2 | On Loan: No      |
| CBAMR Ltd                      | CBAMR 2021-15 LLC                                                               | CUSIP: 149918AQ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3000000 | PA      | $2934597.00   | 0.15%             | 2038-01-20      | Floating      | 9.38%                 | No            |                  2 | On Loan: No      |
| TCW Gem Ltd                    | TCW CLO 2024-3 Ltd                                                              | CUSIP: 87252WAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2300000 | PA      | $2293769.30   | 0.11%             | 2037-10-20      | Floating      | 10.48%                | No            |                  2 | On Loan: No      |
| American Money Management Corp | AMMC CLO 23 Ltd                                                                 | CUSIP: 00177JCE3<br>LEI: 549300ICO4ZE2FVC2Y46 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2027050.00   | 0.10%             | 2038-07-17      | Floating      | 8.78%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INTERNTNL LTD       | Transocean International Ltd                                                    | CUSIP: 893814AA1<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |  10047000 | PA      | $10540669.39  | 0.53%             | 2032-10-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| FORM TECHNOLOGIES LLC          | FORM TECHNOLOGIES LLC                                                           | CUSIP: 34634FAF6<br>LEI: X7KHAIMGSSPZ1XIJIL51 | Long             | LON              | CORP              | US        |   5840650 | PA      | $5285788.25   | 0.26%             | 2030-07-22      | Floating      | 9.48%                 | No            |                  2 | On Loan: No      |
| NGL ENRGY OP/FIN CORP          | NGL Energy Operating LLC / NGL Energy Finance Corp                              | CUSIP: 62922LAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13785000 | PA      | $14284292.70  | 0.71%             | 2032-02-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| OFSI Fund LTD                  | OFSI BSL XIV CLO Ltd                                                            | CUSIP: 67119HAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1969548.00   | 0.10%             | 2037-07-20      | Floating      | 11.62%                | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD          | HUB International Ltd                                                           | CUSIP: 44332PAJ0<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |  13935000 | PA      | $14634244.37  | 0.73%             | 2032-01-31      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| COTIVITI INC                   | COTIVITI INC                                                                    | CUSIP: 22164MAD9<br>LEI: 254900YAQHVRTG4IFI64 | Long             | LON              | CORP              | US        |  14040000 | PA      | $13645125.00  | 0.68%             | 2031-05-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| ZEBRA TECHNOLOGIES CORP        | Zebra Technologies Corp                                                         | CUSIP: 989207AD7<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | DBT              | CORP              | US        |   3950000 | PA      | $4094151.30   | 0.20%             | 2032-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL               | Bank of Montreal                                                                | CUSIP: 06368LQ58<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |  10435000 | PA      | $11086705.40  | 0.55%             | 2084-05-26      | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC          | DIRECTV FINANCING LLC                                                           | CUSIP: 25460HAF9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3374800 | PA      | $3379808.20   | 0.17%             | 2031-02-18      | Floating      | 9.20%                 | No            |                  2 | On Loan: No      |
| STS OPERATING INC              | STS OPERATING INC                                                               | CUSIP: 12508KAJ6<br>LEI: 549300HW5C2VGPZCHL57 | Long             | LON              | CORP              | US        |   5105648 | PA      | $5110437.32   | 0.25%             | 2031-03-25      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| DIG INTL FIN/DIFL US LLC       | Digicel International Finance Ltd / Difl US LLC                                 | CUSIP: 25381MAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   5655000 | PA      | $5871429.29   | 0.29%             | 2032-08-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                  | CommScope LLC                                                                   | CUSIP: 20338QAA1<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |   2720000 | PA      | $2743040.85   | 0.14%             | 2027-03-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Wellfleet CLO Ltd              | Wellfleet CLO 2022-1 Ltd                                                        | CUSIP: 94950UAE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2388200.00   | 0.12%             | 2037-07-15      | Floating      | 11.65%                | 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        |      5385 | NS      | $6670.90      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| CAESARS ENTERTAIN INC          | Caesars Entertainment Inc                                                       | CUSIP: 12769GAC4<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   6890000 | PA      | $7061968.89   | 0.35%             | 2032-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ICON PARENT INC                | ICON PARENT INC                                                                 | CUSIP: 45115MAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4813000 | PA      | $4837065.00   | 0.24%             | 2032-11-15      | Floating      | 8.74%                 | No            |                  2 | On Loan: No      |
| RR Ltd                         | RR 28 Ltd                                                                       | CUSIP: 74989QAA0<br>LEI: 254900ZSKVCYOXP11C98 | Long             | ABS-CBDO         | CORP              | KY        |   1800000 | PA      | $1800901.80   | 0.09%             | 2037-04-15      | Floating      | 10.90%                | No            |                  2 | On Loan: No      |
| WASTE PRO USA INC              | Waste Pro USA Inc                                                               | CUSIP: 94107JAC7<br>LEI: 549300BY1QXU5BI3UF28 | Long             | DBT              | CORP              | US        |   6300000 | PA      | $6500438.28   | 0.32%             | 2033-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| AMERITEX HOLDCO INTERMED       | AmeriTex HoldCo Intermediate LLC                                                | CUSIP: 030727AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5690000 | PA      | $6007382.51   | 0.30%             | 2033-08-15      | Fixed         | 7.62%                 | 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        |     19688 | NS      | $0.02         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| NOVA CHEMICALS CORP            | NOVA Chemicals Corp                                                             | CUSIP: 66977WAU3<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |  12770000 | PA      | $13651321.55  | 0.68%             | 2030-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST       | Service Properties Trust                                                        | CUSIP: 81761LAE2<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2468257.25   | 0.12%             | 2032-06-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Sound Point CLO LTD            | Sound Point CLO 2025R-1 Ltd                                                     | CUSIP: 83617HAA1<br>LEI: 25490031SR8APTVC6E71 | Long             | ABS-CBDO         | CORP              | KY        |   1600000 | PA      | $1580060.80   | 0.08%             | 2038-02-20      | Floating      | 11.47%                | No            |                  2 | On Loan: No      |
| AGL CLO 1 Ltd.                 | AGL CLO 32 Ltd                                                                  | CUSIP: 00121CAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1986470.00   | 0.10%             | 2037-07-21      | Floating      | 9.62%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Lt | Benefit Street Partners CLO XII-B Ltd                                           | CUSIP: 081918AA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2502065.00   | 0.12%             | 2037-10-15      | Floating      | 10.15%                | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS       | Univision Communications Inc                                                    | CUSIP: 914908BD9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | LON              | CORP              | US        |   1129265 | PA      | $1133028.48   | 0.06%             | 2029-06-25      | Floating      | 8.12%                 | No            |                  2 | On Loan: No      |
| HEARTLAND DENTAL LLC           | HEARTLAND DENTAL LLC                                                            | CUSIP: 42236WAX5<br>LEI: 5493008FRC0GRKBN1075 | Long             | LON              | CORP              | US        |  20707505 | PA      | $20817502.93  | 1.04%             | 2032-08-25      | Floating      | 7.48%                 | No            |                  2 | On Loan: No      |
| Ballyrock Ltd                  | Ballyrock CLO 18 Ltd                                                            | CUSIP: 05875XAE8<br>LEI: 2549009NE3IA6DAH4G62 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $2908764.00   | 0.15%             | 2038-04-15      | Floating      | 9.65%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP           | OneMain Finance Corp                                                            | CUSIP: 682691AK6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   2849000 | PA      | $2963445.47   | 0.15%             | 2032-09-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| INEOS US PETROCHEM LLC         | INEOS US PETROCHEM LLC                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6481025 | PA      | $4407097.00   | 0.22%             | 2031-10-07      | Floating      | 7.95%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                    | OCP Clo 2019-17 Ltd                                                             | CUSIP: 67113MAG9<br>LEI: 2549003HLFPQ7ATPYA23 | Long             | ABS-CBDO         | CORP              | KY        |   3200000 | PA      | $3196928.00   | 0.16%             | 2037-07-20      | Floating      | 10.13%                | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER         | Goodyear Tire & Rubber Co/The                                                   | CUSIP: 382550BS9<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |   8110000 | PA      | $8310965.80   | 0.41%             | 2030-07-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| SABLE INTL FINANCE LTD         | Sable International Finance Ltd                                                 | CUSIP: 785712AK6<br>LEI: 2138009IE9A35LO5JS73 | Long             | DBT              | CORP              | KY        |  13695000 | PA      | $13891002.84  | 0.69%             | 2032-10-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| GLOBAL MEDICAL RESPONSE        | Global Medical Response Inc                                                     | CUSIP: 37960BAD7<br>LEI: 549300ZFWD4ZFCEJCQ87 | Long             | DBT              | CORP              | US        |   6231000 | PA      | $6488831.30   | 0.32%             | 2032-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| BEACH ACQUISITION BIDCO        | Beach Acquisition Bidco LLC                                                     | CUSIP: 07337JAC1<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |   7705000 | PA      | $8511197.27   | 0.42%             | 2033-07-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd       | Neuberger Berman CLO XX Ltd                                                     | CUSIP: 64130UAQ5<br>LEI: 549300NPF57YF6WBDP72 | Long             | ABS-CBDO         | CORP              | KY        |   3250000 | PA      | $3200336.75   | 0.16%             | 2039-04-15      | Floating      | 8.65%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC          | Caesars Entertainment Inc                                                       | CUSIP: 12769GAB6<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   8210000 | PA      | $8506602.67   | 0.42%             | 2030-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ALBION FINANCING 1SARL /       | Albion Financing 1 SARL / Aggreko Holdings Inc                                  | CUSIP: 01330AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |   5725000 | PA      | $5998401.38   | 0.30%             | 2030-05-21      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                   | UBS Group AG                                                                    | CUSIP: 902613BN7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   2775000 | PA      | $2848742.85   | 0.14%             | N/A             | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP              | CLARIOS GLOBAL LP                                                               | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |   4867800 | PA      | $4886054.25   | 0.24%             | 2032-01-28      | Floating      | 6.47%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                 | Gray Media Inc                                                                  | CUSIP: 389286AA3<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |  13758000 | PA      | $10328887.29  | 0.51%             | 2031-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Park Blue CLO Ltd              | Park Blue CLO 2022-1 Ltd                                                        | CUSIP: 699903AG5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2100000 | PA      | $2092511.40   | 0.10%             | 2037-10-20      | Floating      | 10.97%                | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS       | Univision Communications Inc                                                    | CUSIP: 914906BA9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |   5650000 | PA      | $6076733.20   | 0.30%             | 2032-08-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC         | Cloud Software Group Inc                                                        | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   6085000 | PA      | $6168655.97   | 0.31%             | 2029-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC         | Cloud Software Group Inc                                                        | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |  11640000 | PA      | $12131212.66  | 0.60%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP       | Olympus Water US Holding Corp                                                   | CUSIP: 681639AE0<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |  11290000 | PA      | $11356064.56  | 0.57%             | 2033-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| LIGHTNING POWER LLC            | Lightning Power LLC                                                             | CUSIP: 53229KAA7<br>LEI: 254900BWCHJ03XRL8K59 | Long             | DBT              | CORP              | US        |  16700000 | PA      | $17767397.20  | 0.89%             | 2032-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| GENMAB A/S/GENMAB FIN          | GENMAB A/S/GENMAB FINANCE LLC                                                   | CUSIP: 37230JAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | DK        |   2015000 | PA      | $2118272.58   | 0.11%             | 2033-12-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| NOBLE FINANCE II LLC           | Noble Finance II LLC                                                            | CUSIP: 65505PAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10295000 | PA      | $10702308.29  | 0.53%             | 2030-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CONNECT FINCO SARL/CONNE       | Connect Finco SARL / Connect US Finco LLC                                       | CUSIP: 20752TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |  14985000 | PA      | $15913908.16  | 0.79%             | 2029-09-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| SESI LLC                       | SESI LLC                                                                        | CUSIP: 78412FAX2<br>LEI: XDZ56K6RXS5J1ESBZS35 | Long             | DBT              | CORP              | US        |   2175000 | PA      | $2142605.12   | 0.11%             | 2030-09-30      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC           | LifePoint Health Inc                                                            | CUSIP: 53219LAW9<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |   5395000 | PA      | $5923089.04   | 0.30%             | 2030-10-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP       | Olympus Water US Holding Corp                                                   | CUSIP: 681639AD2<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |   2640000 | PA      | $2712105.79   | 0.14%             | 2031-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Atlas Senior Loan Fund LTD     | Atlas Senior Loan Fund XX Ltd                                                   | CUSIP: 049410AY9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1750000 | PA      | $1753640.00   | 0.09%             | 2037-10-19      | Floating      | 7.73%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                  | ZF North America Capital Inc                                                    | CUSIP: 98877DAH8<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |  10990000 | PA      | $11115967.38  | 0.55%             | 2031-03-24      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| PHINIA INC                     | Phinia Inc                                                                      | CUSIP: 71880KAB7<br>LEI: 254900HG6MORZE1FFM18 | Long             | DBT              | CORP              | US        |   6498000 | PA      | $6752785.93   | 0.34%             | 2032-10-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| CMG MEDIA CORPORATION          | CMG Media Corp                                                                  | CUSIP: 125773AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  14477000 | PA      | $12449640.92  | 0.62%             | 2029-06-18      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| CIPHER COMPUTE LLC             | Cipher Compute LLC                                                              | CUSIP: 17253NAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3112000 | PA      | $3173408.78   | 0.16%             | 2030-11-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC          | PennyMac Financial Services Inc                                                 | CUSIP: 70932MAG2<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |   5840000 | PA      | $6117078.22   | 0.30%             | 2032-05-15      | Fixed         | 6.88%                 | 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        |  24785000 | PA      | $25138206.08  | 1.25%             | 2029-09-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC         | Venture Global LNG Inc                                                          | CUSIP: 92332YAD3<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |  17015000 | PA      | $17588361.26  | 0.88%             | 2032-02-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| TRIVIUM PACKAGING FIN          | Trivium Packaging Finance BV                                                    | CUSIP: 89686QAC0<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |   9701000 | PA      | $10534280.01  | 0.53%             | 2031-01-15      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC               | CSC Holdings LLC                                                                | CUSIP: 126307BK2<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |  10946000 | PA      | $3918882.54   | 0.20%             | 2031-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GARRETT MOTION HLD/SARL        | Garrett Motion Holdings Inc / Garrett LX I Sarl                                 | CUSIP: 366504AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  19248000 | PA      | $20471572.26  | 1.02%             | 2032-05-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| WHITE CAP SUPPLY HOLDING       | White Cap Supply Holdings LLC                                                   | CUSIP: 96467GAC2<br>LEI: 254900L2N0T6GULCL366 | Long             | DBT              | CORP              | US        |  18370000 | PA      | $19072898.66  | 0.95%             | 2030-11-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| SYNERGY INFRASTRUCTURE H       | Synergy Infrastructure Holdings LLC                                             | CUSIP: 87191JAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4125000 | PA      | $4286794.05   | 0.21%             | 2030-12-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                   | ARES Loan Funding III Ltd                                                       | CUSIP: 04019PAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $989859.00    | 0.05%             | 2036-07-25      | Floating      | 9.96%                 | No            |                  2 | On Loan: No      |
| Invesco CLO LTD                | Invesco US CLO 2024-3 Ltd                                                       | CUSIP: 46148MAA5<br>LEI: 254900GU4U8LUX3GA959 | Long             | ABS-CBDO         | CORP              | JE        |   3500000 | PA      | $3498971.00   | 0.17%             | 2037-07-20      | Floating      | 10.38%                | No            |                  2 | On Loan: No      |
| MANITOWOC COMPANY INC          | Manitowoc Co Inc/The                                                            | CUSIP: 563571AN8<br>LEI: 2RTSLGQ89VMY18RHX631 | Long             | DBT              | CORP              | US        |   6840000 | PA      | $7355394.00   | 0.37%             | 2031-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| LSF12 CROWN US COMMERCIA       | LSF12 CROWN US COMMERCIAL BIDCO LLC                                             | CUSIP: 50221UAD3<br>LEI: 254900FI2OCFTJ9PAJ18 | Long             | LON              | CORP              | US        |   7199978 | PA      | $7258477.68   | 0.36%             | 2031-12-02      | Floating      | 7.24%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC          | PennyMac Financial Services Inc                                                 | CUSIP: 70932MAF4<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |   8960000 | PA      | $9360088.19   | 0.47%             | 2033-02-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Aimco                          | Aimco CLO 15 Ltd                                                                | CUSIP: 00889CAE9<br>LEI: 254900QER1MDK5C1YE06 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1969262.00   | 0.10%             | 2038-04-17      | Floating      | 8.48%                 | No            |                  2 | On Loan: No      |
| K HOVNANIAN ENTERPRISES        | K Hovnanian Enterprises Inc                                                     | CUSIP: 48251UAQ1<br>LEI: 549300JJCQ0KAI7CJG32 | Long             | DBT              | CORP              | US        |   7665000 | PA      | $7795761.07   | 0.39%             | 2033-10-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Sculptor CLO Ltd               | Sculptor Clo Xxxiii Ltd                                                         | CUSIP: 810926AJ4<br>LEI: 254900DQL0NUJRDUYA65 | Long             | ABS-CBDO         | CORP              | JE        |   1500000 | PA      | $1502559.00   | 0.07%             | 2037-07-20      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategi | Carlyle US CLO 2024-1 Ltd                                                       | CUSIP: 142924AA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3100000 | PA      | $3104538.40   | 0.15%             | 2037-04-15      | Floating      | 10.82%                | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION         | Clydesdale Acquisition Holdings Inc                                             | CUSIP: 18972EAB1<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |  10512000 | PA      | $10694950.85  | 0.53%             | 2030-04-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| MARITIME FINANCE CO LTD        | MARITIME FINANCE CO LTD                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1750000 | NS      | $559623.75    | 0.03%             |  |  |  | No            |                  3 | On Loan: No      |
| PETSMART LLC/PETSMART FI       | PetSmart LLC / PetSmart Finance Corp                                            | CUSIP: 71677KAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3350000 | PA      | $3413279.49   | 0.17%             | 2032-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| VITAL ENERGY INC               | Vital Energy Inc                                                                | CUSIP: 516806AK2<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |  12905000 | PA      | $12723865.42  | 0.63%             | 2032-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE        | Crescent Energy Finance LLC                                                     | CUSIP: 45344LAG8<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |   5154000 | PA      | $5122818.30   | 0.26%             | 2034-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| NC Macau I Ltd.                | NC Macau I Ltd.                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | RF                | US        |   1098561 | NS      | $8316109.74   | 0.41%             |  |  |  | Yes           |                  1 | On Loan: No      |
| CLYDESDALE ACQUISITION         | CLYDESDALE ACQUISITION HOLDINGS INC                                             | CUSIP: 18972FAE2<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |   2559114 | PA      | $2560048.47   | 0.13%             | 2032-03-29      | Floating      | 6.95%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-25

**Name of Applicant:** IVY FUNDS

**Signature:** Dan Geatens

**Name of Signer:** Dan Geatens

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