# EDGAR Filing Document

**Accession Number:** 0001648403
**File Stem:** 0001752724-25-161512
**Filing Date:** 2025-6
**Character Count:** 166483
**Document Hash:** aa5b47a832514f8b3dd9e024e08b676a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-161512.hdr.sgml**: 20250627

**ACCESSION NUMBER**: 0001752724-25-161512

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250627

**DATE AS OF CHANGE**: 20250627

**PERIOD START**: 20250731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Virtus ETF Trust II
- **CENTRAL INDEX KEY:** 0001648403

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23078
- **FILM NUMBER:** 251083807

**BUSINESS ADDRESS:**
- **STREET 1:** 31 WEST 52ND STREET
- **STREET 2:** 16TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019
- **BUSINESS PHONE:** 212-593-4383

**MAIL ADDRESS:**
- **STREET 1:** 31 WEST 52ND STREET
- **STREET 2:** 16TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Virtus EFT Trust II
- **DATE OF NAME CHANGE:** 20150717

## Series and Classes Contracts Data

### Virtus Seix Senior Loan ETF (Series ID: S000064735)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000209678 | Virtus Seix Senior Loan ETF | SEIX            |

## Nport-Ex

Schedule of Investments – Virtus Seix Senior Loan ETF

April 30, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **TERM LOANS – 96.0%** | **TERM LOANS – 96.0%** | |
| **Basic Materials – 7.6%** |  |  |
| Arc Falcon I, Inc., 0.00%, (SOFR + 0.00%), 09/30/28<sup>(1)</sup> | $14262 | $13913 |
| Arc Falcon I, Inc., 7.92%, (1-Month SOFR + 3.60%), 09/30/28<sup>(2)</sup> | 991050 | 966775 |
| Arc Falcon I, Inc., 11.42%, (1-Month SOFR + 7.10%), 09/30/29<sup>(2)</sup> | 1380000 | 1311000 |
| Bakelite US Holdco, Inc., 8.05%, (3-Month SOFR + 3.75%), 12/16/31<sup>(2)</sup> | 1760588 | 1672558 |
| Chemours (The), Co., 7.32%, (1-Month SOFR + 3.00%), 08/18/28<sup>(2)</sup> | 1236823 | 1209508 |
| Consolidated Energy Finance SA, 8.81%, (3-Month SOFR + 4.50%), 11/07/30<sup>(2)</sup> | 1554325 | 1435248 |
| Covia Holdings LLC, 7.57%, (3-Month SOFR + 3.25%), 02/12/32<sup>(2)</sup> | 640000 | 640000 |
| Domtar Corp., 9.94%, (1-Month SOFR + 5.61%), 11/30/28<sup>(2)</sup> | 611013 | 559459 |
| Hexion Holdings Corp., 8.33%, (1-Month SOFR + 4.00%), 03/15/29<sup>(2)</sup> | 2208808 | 2155951 |
| Hexion Holdings Corp., 11.86%, (1-Month SOFR + 7.54%), 03/15/30<sup>(2)</sup> | 77647 | 73441 |
| INEOS Styrolution US Holding LLC, 6.42%, (1-Month SOFR + 2.10%), 01/29/27<sup>(2)</sup> | 1942167 | 1825637 |
| INEOS US Finance LLC, 7.57%, (1-Month SOFR + 3.25%), 02/18/30<sup>(2)</sup> | 1828313 | 1715871 |
| INEOS US Finance LLC, 7.32%, (1-Month SOFR + 3.00%), 02/07/31<sup>(2)</sup> | 2204461 | 2045553 |
| INEOS US Petrochem LLC, 8.57%, (1-Month SOFR + 4.25%), 10/01/31<sup>(2)</sup> | 1105000 | 933725 |
| M2S Group Intermediate Holdings, Inc., 9.03%, (3-Month SOFR + 4.75%), 08/25/31<sup>(2)</sup> | 882471 | 844966 |
| Magnera Corp., 8.56%, (3-Month SOFR + 4.25%), 11/04/31<sup>(2)</sup> | 1745625 | 1676350 |
| Manchester Acquisition Sub LLC, 10.22%, (3-Month SOFR + 5.90%), 12/01/26<sup>(2)</sup> | 755389 | 706289 |
| Mativ Holdings, Inc., 8.19%, (1-Month SOFR + 3.86%), 04/20/28<sup>(2)</sup> | 762389 | 758577 |
| Natgasoline LLC, 9.80%, (3-Month SOFR + 5.50%), 03/24/30<sup>(2)</sup> | 755000 | 738956 |
| Natgasoline LLC, 0.00%, (SOFR + 0.00%), 03/29/30<sup>(1)</sup> | 170000 | 166388 |
| Spa US HoldCo, Inc., 0.00%, (SOFR + 0.00%), 02/04/28<sup>(1)</sup> | 1246875 | 1237523 |
| Trinseo Materials Operating SCA, 7.07%, (3-Month SOFR + 2.76%), 05/03/28<sup>(2)</sup> | 492327 | 211009 |
| Total Basic Materials |  | 22898697 |
| **Communications – 15.6%** |  |  |
| 2Degrees Group Ltd., 7.57%, (3-Month SOFR + 3.25%), 05/11/29<sup>(2)</sup> | 494643 | 490933 |
| Altice Financing SA, 9.26%, (3-Month SOFR + 5.00%), 10/31/27<sup>(2)</sup> | 539329 | 441441 |
| Altice France SA, 9.76%, (3-Month SOFR + 5.50%), 08/15/28<sup>(2)</sup> | 1806320 | 1633364 |
| Cable One, Inc., 6.44%, (1-Month SOFR + 2.11%), 05/03/28<sup>(2)</sup> | 962500 | 943852 |
| Cengage Learning, Inc., 7.82%, (1-Month SOFR + 3.50%), 03/22/31<sup>(2)</sup> | 280776 | 279947 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **TERM LOANS (continued)** |  |  |
| **Communications (continued)** |  |  |
| Cengage Learning, Inc., 7.83%, (3-Month SOFR + 3.50%), 03/22/31<sup>(2)</sup> | $483255 | $481827 |
| Charter Communications Operating LLC, 6.55%, (3-Month SOFR + 2.25%), 12/15/31<sup>(2)</sup> | 2204475 | 2199382 |
| Cogeco Communications USA II LP, 7.57%, (1-Month SOFR + 3.25%), 09/18/30<sup>(2)</sup> | 1485000 | 1460869 |
| Connect Finco SARL, 0.00%, (SOFR + 0.00%), 09/27/29<sup>(1)</sup> | 870000 | 784092 |
| Connect Finco SARL, 8.82%, (1-Month SOFR + 4.50%), 09/27/29<sup>(2)</sup> | 1050882 | 947113 |
| Coral-US Co-Borrower LLC, 7.51%, (3-Month SOFR + 3.25%), 01/28/32<sup>(2)</sup> | 2070000 | 2032295 |
| Crown Subsea Communications Holding, Inc., 8.32%, (1-Month SOFR + 4.00%), 01/30/31<sup>(2)</sup> | 893250 | 894590 |
| Digital Media Solutions LLC, 5.61%, (1-Month SOFR + 0.00%), 02/25/26<sup>(2)(3)(4)</sup> | 84289 | 84289 |
| Digital Media Solutions LLC, 6.32%, (1-Month SOFR + 7.00%), 05/25/26<sup>(2)(4)</sup> | 98985 | 98985 |
| Digital Media Solutions LLC, 15.43%, (3-Month SOFR + 11.11%), 05/25/26<sup>(2)(3)</sup> | 378886 | 47361 |
| Digital Media Solutions LLC, 15.43%, (1-Month SOFR + 11.11%), 05/25/26<sup>(2)(3)(4)</sup> | 117476 | 64095 |
| Directv Financing LLC, 9.79%, (3-Month SOFR + 5.51%), 08/02/29<sup>(2)</sup> | 975275 | 946387 |
| Directv Financing LLC, 9.82%, (1-Month SOFR + 5.50%), 02/15/31<sup>(2)</sup> | 194000 | 180716 |
| Ensono, Inc., 8.44%, (1-Month SOFR + 4.11%), 05/19/28<sup>(2)</sup> | 1011160 | 999628 |
| Frontier Communications Holdings LLC, 6.79%, (6-Month SOFR + 2.50%), 07/01/31<sup>(2)</sup> | 598500 | 596507 |
| Gen Digital, Inc., 6.07%, (1-Month SOFR + 1.75%), 09/12/29<sup>(2)</sup> | 694608 | 689784 |
| Go Daddy Operating Co. LLC, 6.07%, (1-Month SOFR + 1.75%), 05/21/31<sup>(2)</sup> | 992500 | 989349 |
| LCPR Loan Financing LLC, 0.00%, (SOFR + 0.00%), 10/16/28<sup>(1)</sup> | 485000 | 394063 |
| LendingTree LLC, 8.44%, (1-Month SOFR + 4.11%), 09/15/28<sup>(2)</sup> | 1239848 | 1231324 |
| Level 3 Financing, Inc., 0.00%, (SOFR + 0.00%), 03/27/32<sup>(1)</sup> | 505000 | 504684 |
| Lumen Technologies, Inc., 0.00%, (SOFR + 0.00%), 06/01/28<sup>(1)</sup> | 1250000 | 1248700 |
| Lumen Technologies, Inc., 10.32%, (1-Month SOFR + 6.00%), 06/01/28<sup>(2)</sup> | 1792667 | 1790803 |
| Lumen Technologies, Inc., 6.79%, (1-Month SOFR + 2.46%), 04/15/30<sup>(2)</sup> | 543534 | 519377 |
| Magnite, Inc., 7.32%, (1-Month SOFR + 3.00%), 02/06/31<sup>(2)</sup> | 1422453 | 1388669 |
| MH Sub I LLC, 0.00%, (SOFR + 0.00%), 05/03/28<sup>(1)</sup> | 998380 | 947213 |
| Neilson Holdings, 0.00%, (SOFR + 0.00%), 04/11/29<sup>(1)</sup> | 2000000 | 1770570 |
| Neptune Bidco US, Inc., 9.08%, (3-Month SOFR + 4.85%), 10/11/28<sup>(2)</sup> | 227603 | 200210 |

---

Schedule of Investments – Virtus Seix Senior Loan ETF (continued)

April 30, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **TERM LOANS (continued)** |  |  |
| **Communications (continued)** |  |  |
| Neptune Bidco US, Inc., 9.33%, (3-Month SOFR + 5.10%), 04/11/29<sup>(2)</sup> | $819126 | $725160 |
| Nielsen Holdings Ltd., 14.08%, (3-Month SOFR + 9.85%), 10/11/29<sup>(2)</sup> | 985000 | 975150 |
| Radiate Holdco LLC, 7.69%, (1-Month SOFR + 3.36%), 09/25/26<sup>(2)</sup> | 531035 | 468195 |
| Summer BC Holdco B SARL, 9.56%, (3-Month SOFR + 5.26%), 02/05/29<sup>(2)</sup> | 923285 | 915206 |
| Summer BC Holdco B SARL, 0.00%, (SOFR + 0.00%), 02/15/29<sup>(1)</sup> | 478788 | 474598 |
| Sunrise Financing Partnership, 6.79%, (6-Month SOFR + 2.50%), 02/29/32<sup>(2)</sup> | 1108398 | 1104241 |
| Telenet Financing USD LLC, 6.44%, (1-Month SOFR + 2.11%), 04/30/28<sup>(2)</sup> | 1000000 | 979375 |
| Thryv, Inc., 11.07%, (1-Month SOFR + 6.75%), 05/01/29<sup>(2)</sup> | 105000 | 105525 |
| TripAdvisor, Inc., 7.05%, (3-Month SOFR + 2.75%), 07/01/31<sup>(2)</sup> | 1379883 | 1348836 |
| Univision Communications, Inc., 7.94%, (1-Month SOFR + 3.61%), 01/23/29<sup>(2)</sup> | 1966523 | 1895237 |
| Venga Finance Sarl, 8.32%, (3-Month SOFR + 4.01%), 06/28/29<sup>(2)</sup> | 1969487 | 1968256 |
| Virgin Media Bristol LLC, 7.69%, (1-Month SOFR + 3.36%), 01/31/29<sup>(2)</sup> | 1500000 | 1481333 |
| Virgin Media Bristol LLC, 7.37%, (6-Month SOFR + 3.28%), 03/31/31<sup>(2)</sup> | 1400000 | 1363565 |
| Zacapa SARL, 0.00%, (SOFR + 0.00%), 03/22/29<sup>(1)</sup> | 3852 | 3843 |
| Zacapa SARL, 8.05%, (3-Month SOFR + 3.75%), 03/22/29<sup>(2)</sup> | 4045408 | 4035294 |
| Ziggo Financing Partnership, 6.94%, (1-Month SOFR + 2.61%), 04/30/28<sup>(2)</sup> | 1707442 | 1683580 |
| Total Communications |  | 46809813 |
| **Consumer, Cyclical – 12.6%** |  |  |
| ABG Intermediate Holdings 2 LLC, 6.57%, (1-Month SOFR + 2.25%), 12/21/28<sup>(2)</sup> | 1654915 | 1627302 |
| ABG Intermediate Holdings 2 LLC, 6.57%, (1-Month SOFR + 2.25%), 02/13/32<sup>(2)</sup> | 225000 | 220641 |
| Allen Media LLC, 9.95%, (3-Month SOFR + 5.65%), 02/10/27<sup>(2)</sup> | 362943 | 182016 |
| Allwyn Entertainment Financing US LLC, 0.00%, (SOFR + 0.00%), 06/02/31<sup>(2)</sup> | 785000 | 775839 |
| AP Core Holdings II LLC, 9.94%, (1-Month SOFR + 5.61%), 09/01/27<sup>(2)</sup> | 1590000 | 1427025 |
| Aramark Services, Inc., 6.32%, (1-Month SOFR + 2.00%), 06/22/30<sup>(2)</sup> | 577688 | 578589 |
| Autokiniton US Holdings, Inc., 8.44%, (1-Month SOFR + 4.11%), 04/06/28<sup>(2)</sup> | 1488693 | 1467762 |
| Bombardier Recreational Products, Inc., 0.00%, (SOFR + 0.00%), 01/22/31<sup>(1)</sup> | 792238 | 766490 |
| Bombardier Recreational Products, Inc., 7.07%, (1-Month SOFR + 2.75%), 01/22/31<sup>(2)</sup> | 1225666 | 1185832 |
| Clarios Global LP, 7.07%, (1-Month SOFR + 2.75%), 01/14/32<sup>(2)</sup> | 630000 | 618714 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **TERM LOANS (continued)** |  |  |
| **Consumer, Cyclical (continued)** |  |  |
| CWGS Group LLC, 6.94%, (1-Month SOFR + 2.61%), 06/03/28<sup>(2)</sup> | $778547 | $742278 |
| EOC Borrower LLC, 7.32%, (1-Month SOFR + 3.00%), 01/27/32<sup>(2)</sup> | 1415000 | 1401437 |
| Fitness International LLC, 9.57%, (1-Month SOFR + 5.25%), 02/12/29<sup>(2)</sup> | 246902 | 247134 |
| GBT US III LLC, 6.78%, (3-Month SOFR + 2.50%), 07/25/31<sup>(2)</sup> | 758100 | 751994 |
| Golden Entertainment, Inc., 6.57%, (1-Month SOFR + 2.25%), 05/26/30<sup>(2)</sup> | 2376888 | 2353119 |
| Golden State Foods LLC, 8.57%, (1-Month SOFR + 4.25%), 12/04/31<sup>(2)</sup> | 995025 | 998313 |
| LC Ahab US Bidco LLC, 7.32%, (1-Month SOFR + 3.00%), 05/01/31<sup>(2)</sup> | 997494 | 972556 |
| LCI Industries, 6.82%, (1-Month SOFR + 2.50%), 03/19/32<sup>(2)</sup> | 805000 | 796950 |
| Life Time, Inc., 6.78%, (3-Month SOFR + 2.50%), 11/05/31<sup>(2)</sup> | 997500 | 992886 |
| Light & Wonder International, Inc., 6.57%, (1-Month SOFR + 2.25%), 04/14/29<sup>(2)</sup> | 497500 | 497709 |
| Ontario Gaming GTA LP, 8.55%, (3-Month SOFR + 4.25%), 08/01/30<sup>(2)</sup> | 3763 | 3651 |
| Oravel Stays Singapore Pte Ltd., 0.00%, (SOFR + 0.00%), 12/20/29<sup>(1)</sup> | 275000 | 271563 |
| Oravel Stays Singapore Pte Ltd., 12.30%, (3-Month SOFR + 8.00%), 12/20/29<sup>(2)</sup> | 1405000 | 1387437 |
| Peer Holding III BV, 6.80%, (3-Month SOFR + 2.50%), 07/01/31<sup>(2)</sup> | 683288 | 681367 |
| Playa Resorts Holding BV, 7.07%, (1-Month SOFR + 2.75%), 01/05/29<sup>(2)</sup> | 4053018 | 4053525 |
| QXO Building Products, Inc., 0.00%, (SOFR + 0.00%), 04/29/32<sup>(1)</sup> | 1415000 | 1415255 |
| Restoration Hardware, Inc., 7.67%, (1-Month SOFR + 3.35%), 10/20/28<sup>(2)</sup> | 523619 | 492202 |
| Sabre GLBL, Inc., 0.00%, (SOFR + 0.00%), 12/17/27<sup>(1)</sup> | 770000 | 735836 |
| Sabre GLBL, Inc., 8.67%, (1-Month SOFR + 4.35%), 06/30/28<sup>(2)</sup> | 250000 | 235938 |
| Sabre GLBL, Inc., 9.42%, (1-Month SOFR + 5.10%), 06/30/28<sup>(2)</sup> | 1395783 | 1326001 |
| Varsity Brands, Inc., 7.82%, (3-Month SOFR + 3.50%), 08/26/31<sup>(2)</sup> | 1000000 | 985315 |
| Victra Holdings LLC, 8.55%, (3-Month SOFR + 4.25%), 03/29/29<sup>(2)</sup> | 1773550 | 1731428 |
| Walgreens Boots Alliance, Inc., 0.00%, (SOFR + 0.00%), 08/07/26<sup>(1)</sup> | 4000000 | 3982500 |
| WH Borrower LLC, 0.00%, (SOFR + 0.00%), 02/12/32<sup>(1)</sup> | 270000 | 260213 |
| WH Borrower LLC, 9.07%, (3-Month SOFR + 4.75%), 02/12/32<sup>(2)</sup> | 1850000 | 1782938 |
| Total Consumer, Cyclical |  | 37949755 |
| **Consumer, Non-cyclical – 11.4%** |  |  |
| A-AG US GSI Bidco, Inc., 9.30%, (3-Month SOFR + 5.00%), 10/31/31<sup>(2)</sup> | 1140000 | 1134300 |
| AHP Health Partners, Inc., 7.07%, (1-Month SOFR + 2.75%), 08/24/28<sup>(2)</sup> | 853889 | 854687 |

---

Schedule of Investments – Virtus Seix Senior Loan ETF (continued)

April 30, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **TERM LOANS (continued)** |  |  |
| **Consumer, Non-cyclical (continued)** |  |  |
| American Public Education, Inc., 9.94%, (1-Month SOFR + 5.61%), 09/01/27<sup>(2)</sup> | $720000 | $714150 |
| Amneal Pharmaceuticals LLC, 9.82%, (1-Month SOFR + 5.50%), 05/04/28<sup>(2)</sup> | 2408167 | 2417355 |
| Aspire Bakeries Holdings LLC, 8.57%, (1-Month SOFR + 4.25%), 12/23/30<sup>(2)</sup> | 596985 | 598477 |
| Catawba Nation Gaming Authority, 9.05%, (3-Month SOFR + 4.75%), 12/16/31<sup>(2)</sup> | 1035000 | 1030689 |
| First Advantage Holdings LLC, 7.57%, (1-Month SOFR + 3.25%), 10/31/31<sup>(2)</sup> | 997500 | 991889 |
| Fugue Finance LLC, 7.50%, (6-Month SOFR + 3.25%), 01/09/32<sup>(2)</sup> | 771903 | 772000 |
| HAH Group Holding Co. LLC, 9.32%, (1-Month SOFR + 5.00%), 09/17/31<sup>(2)</sup> | 676300 | 656224 |
| Insulet Corp., 6.82%, (1-Month SOFR + 2.50%), 08/04/31<sup>(2)</sup> | 372101 | 372659 |
| LifePoint Health, Inc, 0.00%, (SOFR + 0.00%), 05/16/31<sup>(1)</sup> | 500000 | 491563 |
| LifePoint Health, Inc, 8.01%, (3-Month SOFR + 3.75%), 05/16/31<sup>(2)</sup> | 1987238 | 1953703 |
| LifePoint Health, Inc., 0.00%, (SOFR + 0.00%), 05/19/31<sup>(1)</sup> | 385000 | 376900 |
| Medline Borrower LP, 6.57%, (1-Month SOFR + 2.25%), 10/23/28<sup>(2)</sup> | 778045 | 773708 |
| Mister Car Wash Holdings, Inc., 6.82%, (1-Month SOFR + 2.50%), 03/21/31<sup>(2)</sup> | 315400 | 313677 |
| Neon Maple US Debt Mergersub, Inc., 7.32%, (1-Month SOFR + 3.00%), 11/15/31<sup>(2)</sup> | 1630000 | 1621589 |
| Opal US LLC, 0.00%, (SOFR + 0.00%), 04/23/32<sup>(1)</sup> | 1705000 | 1693287 |
| Organon & Co., 6.57%, (1-Month SOFR + 2.25%), 05/19/31<sup>(2)</sup> | 1796927 | 1725050 |
| Primary Products Finance LLC, 7.53%, (3-Month SOFR + 3.25%), 04/01/29<sup>(2)</sup> | 1621183 | 1603528 |
| Primo Brands Corp., 6.55%, (3-Month SOFR + 2.25%), 03/31/28<sup>(2)</sup> | 1452944 | 1443681 |
| Priority Holdings LLC, 9.07%, (1-Month SOFR + 4.75%), 05/16/31<sup>(2)</sup> | 1547072 | 1547072 |
| Quirch Foods Holdings LLC, 9.57%, (3-Month SOFR + 5.26%), 10/27/27<sup>(2)</sup> | 1597569 | 1509303 |
| Savor Acquisition, Inc., 7.57%, (1-Month SOFR + 3.25%), 02/04/32<sup>(2)</sup> | 726466 | 724762 |
| Savor Acquisition, Inc., 0.00%, (3-Month SOFR + 0.00%), 02/19/32 | 68534 | 68374 |
| Team Health Holdings, Inc., 9.53%, (3-Month SOFR + 5.25%), 03/02/27<sup>(2)</sup> | 1585538 | 1547295 |
| Team Public Choices LLC, 0.00%, (SOFR + 0.00%), 12/20/27<sup>(1)</sup> | 867769 | 840434 |
| Team Public Choices LLC, 9.53%, (3-Month SOFR + 5.25%), 12/20/27<sup>(2)</sup> | 483788 | 470486 |
| TTF Lower Intermediate LLC, 8.00%, (6-Month SOFR + 3.75%), 07/18/31<sup>(2)</sup> | 957600 | 935455 |
| University Support Services LLC, 7.06%, (3-Month SOFR + 2.75%), 02/10/29<sup>(2)</sup> | 1492094 | 1477547 |
| Veritiv Operating Co., 8.30%, (3-Month SOFR + 4.00%), 11/30/30<sup>(2)</sup> | 1478797 | 1469214 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **TERM LOANS (continued)** |  |  |
| **Consumer, Non-cyclical (continued)** |  |  |
| Vestis Corp., 6.58%, (3-Month SOFR + 2.25%), 02/22/31<sup>(2)</sup> | $1626635 | $1592744 |
| VM Consolidated, Inc., 6.57%, (1-Month SOFR + 2.25%), 03/24/28<sup>(2)</sup> | 713400 | 714402 |
| Total Consumer, Non-cyclical |  | 34436204 |
| **Diversified – 0.4%** |  |  |
| Emerald X, Inc., 8.07%, (1-Month SOFR + 3.75%), 01/23/32<sup>(2)</sup> | 400000 | 400502 |
| First Eagle Holdings, Inc., 7.30%, (3-Month SOFR + 3.00%), 03/05/29<sup>(2)</sup> | 742500 | 741520 |
| Total Diversified |  | 1142022 |
| **Energy – 7.6%** |  |  |
| AL NGPL Holdings LLC, 6.78%, (3-Month SOFR + 2.50%), 04/13/28<sup>(2)</sup> | 1381580 | 1379860 |
| Brazos Delaware II LLC, 7.32%, (1-Month SOFR + 3.00%), 02/11/30<sup>(2)</sup> | 468750 | 468516 |
| CPPIB OVM Member US LLC, 7.05%, (3-Month SOFR + 2.75%), 10/23/28<sup>(2)</sup> | 901170 | 896146 |
| CPV Fairview LLC, 7.32%, (1-Month SOFR + 3.00%), 08/14/31<sup>(2)</sup> | 949773 | 955315 |
| EMG Utica Midstream Holdings LLC, 8.30%, (3-Month SOFR + 4.00%), 10/24/29<sup>(2)</sup> | 635000 | 633412 |
| EPIC Crude Services LP, 7.26%, (3-Month SOFR + 3.00%), 10/15/31<sup>(2)</sup> | 997500 | 997680 |
| Goodnight Water Solutions Holdings LLC, 8.82%, (1-Month SOFR + 4.50%), 06/04/29<sup>(2)</sup> | 1675215 | 1650087 |
| M6 ETX Holdings II Midco LLC, 7.32%, (1-Month SOFR + 3.00%), 03/28/32<sup>(2)</sup> | 720000 | 716850 |
| New Fortress Energy, Inc., 9.79%, (6-Month SOFR + 5.50%), 10/30/28<sup>(2)</sup> | 2480000 | 1802650 |
| NGP XI Midstream Holdings LLC, 7.80%, (3-Month SOFR + 3.50%), 07/25/31<sup>(2)</sup> | 2344125 | 2320684 |
| Oxbow Carbon LLC, 7.82%, (1-Month SOFR + 3.50%), 05/10/30<sup>(2)</sup> | 1831196 | 1808306 |
| Pasadena Performance Products LLC, 7.75%, (3-Month SOFR + 3.50%), 02/24/32<sup>(2)</sup> | 2000000 | 1996250 |
| Rockpoint Gas Storage Partners LP, 7.30%, (3-Month SOFR + 3.00%), 09/18/31<sup>(2)</sup> | 1770563 | 1753405 |
| UGI Energy Services LLC, 6.82%, (1-Month SOFR + 2.50%), 02/22/30<sup>(2)</sup> | 494937 | 495432 |
| WaterBridge Midstream Operating LLC, 9.05%, (3-Month SOFR + 4.75%), 06/21/29<sup>(2)</sup> | 4151020 | 3975743 |
| WaterBridge NDB Operating LLC, 0.00%, (SOFR + 0.00%), 05/10/29<sup>(1)</sup> | 1000000 | 986355 |
| Total Energy |  | 22836691 |
| **Financials – 14.1%** |  |  |
| Apex Group Treasury LLC, 7.82%, (3-Month SOFR + 3.50%), 02/27/32<sup>(2)</sup> | 1005000 | 1003538 |
| Apollo Commercial Real Estate Finance, Inc., 7.94%, (1-Month SOFR + 3.61%), 03/11/28<sup>(2)</sup> | 1496104 | 1481143 |
| Aretec Group, Inc., 7.82%, (1-Month SOFR + 3.50%), 08/09/30<sup>(2)</sup> | 2700051 | 2689318 |

---

Schedule of Investments – Virtus Seix Senior Loan ETF (continued)

April 30, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **TERM LOANS (continued)** |  |  |
| **Financials (continued)** |  |  |
| Asurion LLC, 8.67%, (1-Month SOFR + 4.35%), 08/21/28<sup>(2)</sup> | $2176365 | $2115350 |
| Asurion LLC, 9.69%, (1-Month SOFR + 5.36%), 01/20/29<sup>(2)</sup> | 2015000 | 1856319 |
| Asurion LLC, 8.57%, (1-Month SOFR + 4.25%), 09/19/30<sup>(2)</sup> | 1717799 | 1646673 |
| Avolon TLB Borrower 1 US LLC, 6.07%, (1-Month SOFR + 1.75%), 06/24/30<sup>(2)</sup> | 1830889 | 1825936 |
| Blackhawk Network Holdings, Inc., 8.32%, (1-Month SOFR + 4.00%), 03/12/29<sup>(2)</sup> | 813860 | 814308 |
| Blackstone Mortgage Trust, Inc., 8.07%, (1-Month SOFR + 3.75%), 12/10/28<sup>(2)</sup> | 768075 | 769035 |
| Blackstone Mortgage Trust, Inc., 7.82%, (1-Month SOFR + 3.50%), 05/02/29<sup>(2)</sup> | 398974 | 397478 |
| Citadel Securities Global Holdings LLC, 6.32%, (1-Month SOFR + 2.00%), 10/31/31<sup>(2)</sup> | 1193683 | 1193474 |
| Corpay Technologies Operating Co. LLC, 6.07%, (1-Month SOFR + 1.75%), 04/28/28<sup>(2)</sup> | 885556 | 883970 |
| DRW Holdings LLC, 7.82%, (3-Month SOFR + 3.50%), 06/26/31<sup>(2)</sup> | 1985000 | 1985417 |
| EIG Management Co. LLC, 9.32%, (1-Month SOFR + 5.00%), 05/17/29<sup>(2)</sup> | 424625 | 420379 |
| FinCo I LLC, 0.00%, (SOFR + 0.00%), 06/27/29<sup>(1)</sup> | 199500 | 199325 |
| FinCo I LLC, 6.57%, (1-Month SOFR + 2.25%), 06/27/29<sup>(2)</sup> | 591019 | 590502 |
| FNZ USA FinCo LLC, 0.00%, (SOFR + 0.00%), 11/05/31<sup>(1)</sup> | 235000 | 196225 |
| FNZ USA FinCo LLC, 9.29%, (3-Month SOFR + 5.00%), 11/05/31<sup>(2)</sup> | 1000000 | 835000 |
| Forest City Enterprises LLC, 0.00%, (SOFR + 0.00%), 12/08/25<sup>(1)</sup> | 665000 | 641632 |
| Forest City Enterprises LLC, 7.94%, (1-Month SOFR + 3.61%), 12/08/25<sup>(2)</sup> | 2780000 | 2682311 |
| Franklin Square Holdings LP, 6.57%, (1-Month SOFR + 2.25%), 04/18/31<sup>(2)</sup> | 516100 | 514810 |
| Hightower Holding LLC, 7.29%, (3-Month SOFR + 3.00%), 02/03/32<sup>(2)</sup> | 1139485 | 1122392 |
| Hudson River Trading LLC, 7.29%, (1-Month SOFR + 3.00%), 03/18/30<sup>(2)</sup> | 1521839 | 1521702 |
| Jane Street Group LLC, 6.31%, (3-Month SOFR + 2.00%), 12/10/31<sup>(2)</sup> | 1562175 | 1542875 |
| Jefferies Finance LLC, 7.32%, (1-Month SOFR + 3.00%), 10/21/31<sup>(2)</sup> | 1152113 | 1153553 |
| Jump Financial LLC, 8.55%, (3-Month SOFR + 4.25%), 02/20/32<sup>(2)</sup> | 997500 | 996253 |
| KREF Holdings X LLC, 7.57%, (1-Month SOFR + 3.25%), 02/25/32<sup>(2)</sup> | 1000000 | 993755 |
| Mermaid Bidco, Inc., 7.55%, (3-Month SOFR + 3.25%), 07/03/31<sup>(2)</sup> | 1232337 | 1223095 |
| Nexus Buyer LLC, 7.82%, (1-Month SOFR + 3.50%), 07/31/31<sup>(2)</sup> | 1748218 | 1745430 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **TERM LOANS (continued)** |  |  |
| **Financials (continued)** |  |  |
| OEG Borrower LLC, 7.80%, (3-Month SOFR + 3.50%), 06/30/31<sup>(2)</sup> | $1492500 | $1489702 |
| Osaic Holdings, Inc., 7.82%, (1-Month SOFR + 3.50%), 08/17/28<sup>(2)</sup> | 2260453 | 2254689 |
| Russell Investments US Institutional Holdco, Inc., 10.78%, (3-Month SOFR + 6.50%), 05/30/27<sup>(2)</sup> | 1048656 | 980498 |
| SK Neptune Husky Finance Sarl, 0.00%, (3-Month SOFR + 0.00%), 01/03/29<sup>(2)(3)</sup> | 862908 | 29934 |
| Starwood Property Mortgage LLC, 6.57%, (1-Month SOFR + 2.25%), 12/12/29<sup>(2)</sup> | 1211963 | 1211969 |
| Superannuation & Investments US LLC, 8.19%, (1-Month SOFR + 3.86%), 12/01/28<sup>(2)</sup> | 672849 | 672849 |
| VFH Parent LLC, 6.82%, (1-Month SOFR + 2.50%), 06/21/31<sup>(2)</sup> | 641769 | 640164 |
| Total Financials |  | 42321003 |
| **Industrials – 11.6%** |  |  |
| AIT Worldwide Logistics Holdings, Inc., 8.30%, (3-Month SOFR + 4.00%), 04/08/30<sup>(2)</sup> | 478800 | 460845 |
| Alliance Laundry Systems LLC, 7.07%, (3-Month SOFR + 2.75%), 08/19/31<sup>(2)</sup> | 500000 | 497095 |
| AMG Critical Materials NV, 7.94%, (1-Month SOFR + 3.61%), 11/30/28<sup>(2)</sup> | 1173634 | 1140631 |
| Clue Opco LLC, 8.78%, (3-Month SOFR + 4.50%), 12/19/30<sup>(2)</sup> | 793822 | 719580 |
| Clydesdale Acquisition Holdings, Inc., 7.48%, (3-Month SOFR + 3.25%), 03/26/32<sup>(2)</sup> | 15464 | 15358 |
| Clydesdale Acquisition Holdings, Inc., 7.55%, (3-Month SOFR + 3.25%), 03/27/32<sup>(2)</sup> | 884536 | 878459 |
| Cobham Ultra SeniorCo Sarl, 8.18%, (6-Month SOFR + 3.93%), 08/06/29<sup>(2)</sup> | 3441681 | 3390056 |
| Construction Partners, Inc., 6.82%, (1-Month SOFR + 2.50%), 11/03/31<sup>(2)</sup> | 696125 | 692355 |
| Creation Technologies, Inc., 10.05%, (3-Month SOFR + 5.76%), 10/05/28<sup>(2)</sup> | 1333689 | 1275340 |
| Crown Equipment Corp., 6.54%, (1-Month SOFR + 2.25%), 10/10/31<sup>(2)</sup> | 893925 | 890573 |
| Dynamo US Bidco, Inc., 7.80%, (3-Month SOFR + 3.50%), 09/25/31<sup>(2)</sup> | 995000 | 992512 |
| Dynamo US Bidco, Inc., 0.00%, (SOFR + 0.00%), 10/01/31<sup>(1)</sup> | 500000 | 498750 |
| Dynasty Acquisition Co, Inc., 6.32%, (1-Month SOFR + 2.00%), 10/31/31<sup>(2)</sup> | 1032413 | 1028087 |
| Emrld Borrower LP, 6.80%, (3-Month SOFR + 2.50%), 08/04/31<sup>(2)</sup> | 562175 | 556438 |
| Foley Products Co. LLC, 9.20%, (3-Month SOFR + 4.90%), 12/29/28<sup>(2)</sup> | 465832 | 467773 |
| Frontdoor, Inc., 6.57%, (1-Month SOFR + 2.25%), 12/16/31<sup>(2)</sup> | 428925 | 427317 |
| Goat Holdco LLC, 7.32%, (1-Month SOFR + 3.00%), 01/27/32<sup>(2)</sup> | 880000 | 868340 |
| HDI Aerospace Intermediate Holding III Corp., 8.73%, (3-Month SOFR + 4.50%), 09/19/31<sup>(2)</sup> | 1700000 | 1695750 |

---

Schedule of Investments – Virtus Seix Senior Loan ETF (continued)

April 30, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **TERM LOANS (continued)** |  |  |
| **Industrials (continued)** |  |  |
| JSG II, Inc., 8.92%, (1-Month SOFR + 4.60%), 06/28/26<sup>(2)</sup> | $915860 | $906702 |
| LSF11 Trinity Bidco, Inc., 7.32%, (1-Month SOFR + 3.00%), 06/14/30<sup>(2)</sup> | 1516068 | 1506593 |
| LSF12 Crown US Commercial Bidco, LLC, 8.57%, (1-Month SOFR + 4.25%), 12/02/31<sup>(2)</sup> | 1080000 | 1042200 |
| MX Holdings US, Inc., 6.57%, (1-Month SOFR + 2.25%), 02/20/32<sup>(2)</sup> | 320000 | 319200 |
| Oscar Acquisitionco LLC, 8.55%, (3-Month SOFR + 4.25%), 04/29/29<sup>(2)</sup> | 1852776 | 1776932 |
| Quikrete Holdings, Inc., 6.57%, (1-Month SOFR + 2.25%), 04/14/31<sup>(2)</sup> | 745500 | 732644 |
| Quikrete Holdings, Inc., 6.57%, (1-Month SOFR + 2.25%), 02/10/32<sup>(2)</sup> | 325000 | 319035 |
| Rand Parent LLC, 7.30%, (3-Month SOFR + 3.00%), 03/18/30<sup>(2)</sup> | 1568662 | 1457876 |
| Red SPV LLC, 6.58%, (1-Month SOFR + 2.25%), 03/06/32<sup>(2)</sup> | 780000 | 777075 |
| Stonepeak Nile Parent LLC, 6.98%, (1-Month SOFR + 0.00%), 02/03/32<sup>(2)</sup> | 665000 | 654749 |
| Third Coast Infrastructure LLC, 8.57%, (1-Month SOFR + 4.25%), 09/25/30<sup>(2)</sup> | 2870446 | 2813037 |
| Tidal Waste & Recycling Holdings LLC, 7.80%, (3-Month SOFR + 3.50%), 10/24/31<sup>(2)</sup> | 900000 | 902623 |
| TransDigm, Inc., 7.05%, (3-Month SOFR + 2.75%), 03/22/30<sup>(2)</sup> | 628650 | 628087 |
| TransDigm, Inc., 6.80%, (3-Month SOFR + 2.50%), 01/19/32<sup>(2)</sup> | 2079550 | 2060813 |
| TRC Cos LLC, 7.32%, (1-Month SOFR + 3.00%), 12/08/28<sup>(2)</sup> | 1418193 | 1412520 |
| Vertex Aerospace Services LLC, 6.57%, (1-Month SOFR + 2.25%), 12/06/30<sup>(2)</sup> | 1246875 | 1232075 |
| Total Industrials |  | 35037420 |
| **Technology – 9.4%** |  |  |
| Adeia, Inc., 6.82%, (1-Month SOFR + 2.50%), 06/08/28<sup>(2)</sup> | 1988895 | 1973979 |
| Ahead DB Holdings LLC, 7.30%, (3-Month SOFR + 3.00%), 02/01/31<sup>(2)</sup> | 1485028 | 1477373 |
| Allegro MicroSystems, Inc., 0.00%, (SOFR + 0.00%), 10/31/30<sup>(1)(4)</sup> | 1715000 | 1706425 |
| Allegro MicroSystems, Inc., 6.32%, (1-Month SOFR + 2.00%), 10/31/30<sup>(2)(4)</sup> | 492000 | 489540 |
| Amentum Holdings, Inc., 6.57%, (1-Month SOFR + 2.25%), 07/30/31<sup>(2)</sup> | 1062338 | 1051220 |
| CACI International, Inc., 6.07%, (1-Month SOFR + 1.75%), 10/30/31<sup>(2)</sup> | 488775 | 487248 |
| Cloud Software Group, Inc., 8.05%, (3-Month SOFR + 3.75%), 03/21/31<sup>(2)</sup> | 1482550 | 1467724 |
| Cloud Software Group, Inc., 8.05%, (2-Month SOFR + 3.75%), 03/21/31<sup>(2)</sup> | 3725 | 3688 |
| Clover Holdings 2 LLC, 8.29%, (3-Month SOFR + 4.00%), 12/09/31<sup>(2)</sup> | 625000 | 625000 |
| Dayforce, Inc., 6.28%, (3-Month SOFR + 2.00%), 02/26/31<sup>(2)</sup> | 873411 | 874503 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **TERM LOANS (continued)** |  |  |
| **Technology (continued)** |  |  |
| Foundever Worldwide Corp., 8.18%, (3-Month SOFR + 3.86%), 07/27/28<sup>(2)</sup> | $493606 | $279786 |
| Inmar, Inc., 9.30%, (3-Month SOFR + 5.00%), 05/01/26<sup>(2)</sup> | 419993 | 419993 |
| Inmar, Inc., 9.32%, (1-Month SOFR + 5.00%), 05/01/26<sup>(2)</sup> | 439727 | 439727 |
| Inmar, Inc., 9.31%, (3-Month SOFR + 5.00%), 10/30/31<sup>(2)</sup> | 76591 | 76591 |
| KBR, Inc., 6.32%, (1-Month SOFR + 2.00%), 01/17/31<sup>(2)</sup> | 927970 | 929520 |
| Leia Finco US LLC, 7.46%, (3-Month SOFR + 3.25%), 10/09/31<sup>(2)</sup> | 1315000 | 1308885 |
| MaxLinear, Inc., 6.69%, (1-Month SOFR + 2.36%), 06/23/28<sup>(2)</sup> | 1201483 | 1111371 |
| MKS Instruments, Inc., 6.32%, (1-Month SOFR + 2.00%), 08/17/29<sup>(2)</sup> | 1666201 | 1658286 |
| Modena Buyer LLC, 8.78%, (3-Month SOFR + 4.50%), 07/01/31<sup>(2)</sup> | 611925 | 582094 |
| Peraton Corp., 8.17%, (1-Month SOFR + 3.85%), 02/01/28<sup>(2)</sup> | 1330127 | 1203526 |
| Perforce Software, Inc., 9.07%, (1-Month SOFR + 4.75%), 07/02/29<sup>(2)</sup> | 497444 | 472075 |
| Perforce Software, Inc., 9.07%, (1-Month SOFR + 4.75%), 03/21/31<sup>(2)</sup> | 496250 | 468956 |
| Pitney Bowes, Inc., 8.07%, (1-Month SOFR + 3.75%), 02/09/32<sup>(2)</sup> | 1625000 | 1602656 |
| Pitney Bowes, Inc., 0.00%, (SOFR + 0.00%), 03/19/32<sup>(2)</sup> | 380000 | 374775 |
| Red Planet Borrower LLC, 7.92%, (1-Month SOFR + 3.60%), 10/02/28<sup>(2)</sup> | 1885615 | 1850259 |
| Red Planet Borrower LLC, 9.57%, (1-Month SOFR + 5.25%), 10/02/28<sup>(2)</sup> | 100000 | 99625 |
| Starlight Parent LLC, 8.26%, (3-Month SOFR + 4.00%), 03/12/32<sup>(2)</sup> | 810000 | 783930 |
| UKG, Inc., 7.32%, (1-Month SOFR + 3.00%), 02/10/31<sup>(2)</sup> | 1528650 | 1525179 |
| Ultimate Software Group, 0.00%, (SOFR + 0.00%), 02/10/31<sup>(1)</sup> | 109724 | 109474 |
| Ultra Clean Holdings, Inc., 7.57%, (1-Month SOFR + 3.25%), 02/28/28<sup>(2)</sup> | 967173 | 965665 |
| UST Global, Inc., 7.33%, (1-Month SOFR + 3.00%), 11/20/28<sup>(2)</sup> | 970833 | 971439 |
| ZoomInfo LLC, 6.07%, (1-Month SOFR + 1.75%), 02/28/30<sup>(2)</sup> | 994975 | 974249 |
| Total Technology |  | 28364761 |
| **Utilities – 5.7%** |  |  |
| Alpha Generation LLC, 7.07%, (1-Month SOFR + 2.75%), 09/19/31<sup>(2)</sup> | 701475 | 702415 |
| Calpine Corp., 6.07%, (1-Month SOFR + 1.75%), 02/15/32<sup>(2)</sup> | 1735000 | 1729691 |
| Carroll County Energy LLC, 7.55%, (3-Month SOFR + 3.25%), 06/30/31<sup>(2)</sup> | 924563 | 929186 |
| Compass Power Generation LLC, 8.07%, (1-Month SOFR + 3.75%), 04/14/29<sup>(2)</sup> | 1129054 | 1134699 |
| Cornerstone Generation LLC, 0.00%, (SOFR + 0.00%), 10/28/31<sup>(1)</sup> | 1620000 | 1623710 |

---

Schedule of Investments – Virtus Seix Senior Loan ETF (continued)

April 30, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **TERM LOANS (continued)** |  |  |
| **Utilities (continued)** |  |  |
| Eastern Power LLC, 9.57%, (1-Month SOFR + 5.25%), 04/03/28<sup>(2)</sup> | $1373157 | $1358712 |
| Edgewater Generation LLC, 7.32%, (1-Month SOFR + 3.00%), 08/01/30<sup>(2)</sup> | 484570 | 484267 |
| EFS Cogen Holdings I LLC, 7.80%, (3-Month SOFR + 3.50%), 10/01/27<sup>(2)</sup> | 992500 | 994465 |
| Invenergy Thermal Operating I LLC, 8.14%, (1-Month SOFR + 3.86%), 08/03/29<sup>(2)(4)</sup> | 53571 | 53906 |
| Invenergy Thermal Operating I LLC, 8.03%, (1-Month SOFR + 3.75%), 08/14/29<sup>(2)(4)</sup> | 526289 | 529578 |
| Kestrel Acquisition LLC, 7.80%, (3-Month SOFR + 3.50%), 10/29/31<sup>(2)</sup> | 611925 | 613008 |
| Lackawanna Energy Center LLC, 8.57%, (1-Month SOFR + 4.25%), 08/06/29<sup>(2)</sup> | 770180 | 775956 |
| Lightning Power LLC, 6.55%, (3-Month SOFR + 2.25%), 08/18/31<sup>(2)</sup> | 1563397 | 1562177 |
| NRG Energy, Inc., 6.03%, (3-Month SOFR + 1.75%), 04/16/31<sup>(2)</sup> | 1584962 | 1583972 |
| NRG Energy, Inc., 6.07%, (1-Month SOFR + 1.75%), 04/16/31<sup>(2)</sup> | 4013 | 4010 |
| Potomac Energy Center LLC, 0.00%, (SOFR + 0.00%), 03/14/32<sup>(1)</sup> | 1250000 | 1245312 |
| Talen Energy Supply LLC, 6.82%, (3-Month SOFR + 2.50%), 05/17/30<sup>(2)</sup> | 271357 | 271018 |
| Talen Energy Supply LLC, 6.82%, (3-Month SOFR + 2.50%), 12/12/31<sup>(2)</sup> | 872813 | 871490 |
| Thunder Generation Funding LLC, 7.30%, (3-Month SOFR + 3.00%), 09/27/31<sup>(2)</sup> | 595964 | 596336 |
| Total Utilities |  | 17063908 |
| **Total Term Loans** |  |  |
| (Cost $293,889,533) |  | **288860274** |
| **CORPORATE BONDS – 1.4%** |  |  |
| **Communications – 0.1%** |  |  |
| Gray Television, Inc., 4.75%, 10/15/30<sup>(5)</sup> | 300000 | 179250 |
| **Consumer, Cyclical – 0.6%** |  |  |
| Warnermedia Holdings, Inc., 4.28%, 03/15/32 | 2000000 | 1713279 |
| **Consumer, Non-cyclical – 0.4%** |  |  |
| Emergent BioSolutions, Inc., 3.88%, 08/15/28<sup>(5)</sup> | 2000000 | 1289812 |
| **Industrial – 0.3%** |  |  |
| Brundage-Bone Concrete Pumping Holdings, Inc., 7.50%, 02/01/32<sup>(5)</sup> | 1000000 | 976843 |
| **Total Corporate Bonds** |  |  |
| (Cost $4,578,060) |  | **4159184** |
| **ASSET BACKED SECURITIES – 0.8%** |  |  |
| Churchill Middle Market CLO V LLC, Class D, Series 2025-1A, 7.62%, (3-Month SOFR + 3.30%), 04/25/37<sup>(2)(5)</sup> | 500000 | 484276 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **ASSET BACKED SECURITIES (continued)** |  |  |
| Mountain View CLO XVI Ltd., Class ER, Series 2024-1A (Cayman Islands), 11.59%, (3-Month SOFR + 7.33%), 04/15/34<sup>(2)(5)</sup> | $1000000 | $997915 |
| Mountain View CLO XVIII Ltd., Class D1, Series 2024-1A (Cayman Islands), 7.91%, (3-Month SOFR + 3.65%), 10/16/37<sup>(2)(5)</sup> | 1000000 | 1001762 |
| **Total Asset Backed Securities** |  |  |
| (Cost $2,487,500) |  | **2483953** |
| **FOREIGN BOND – 0.3%** |  |  |
| **Communications – 0.3%** |  |  |
| LCPR Senior Secured Financing Dac, 6.75%, 10/15/27 (Puerto Rico)<sup>(5)</sup> | 1000000 | 822991 |
| (Cost $933,460) |  |  |
| **WARRANT – 0.0%<sup>(6)</sup>** |  |  |
| **Financials – 0.0%<sup>(6)</sup>** |  |  |
| Altisource Sarl, expiring 02/14/28 |  |  |
| (Cost $–) | 3266 | 3299 |
| **TOTAL INVESTMENTS – 98.5%** |  |  |
| (Cost $301,888,553) |  | **296329701** |
| Other Assets in Excess of Liabilities – 1.5% |  | 4653884 |
| **Net Assets – 100.0%** |  | $**300983585** |

---

(1) The loan will settle after April 30, 2025, at which time the interest rate, calculated on the base lending rate and the agreed upon spread on trade date, will be reflected.

(2) Variable rate instrument. The interest rate shown reflects the rate in effect at April 30, 2025.

(3) Security in default, no interest payments are being received during the bankruptcy proceedings.

(4) Security valued at fair value as determined in good faith by or under the direction of the Trustees. This security is disclosed as a Level 3 security in the Fair Value Hierarchy table located after the Schedule of Investments.

(5) Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. Unless otherwise noted, 144A securities are deemed to be liquid. At April 30, 2025, the aggregate value of these securities was $5,752,849, or 1.9% of net assets.

(6) Amount rounds to less than 0.05%.

---

| |
|:---|
| **Abbreviations:** |
| SOFR — Secured Overnight Financing Rate |

---

Amount rounds to less than 0.05%

Schedule of Investments – Virtus Seix Senior Loan ETF (continued)

April 30, 2025 (unaudited)

**Fair Value Measurements**

The Fund utilizes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access. Level 2 includes observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data. Level 3 includes unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available; representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following table summarizes valuation of the Fund's investments under the fair value hierarchy levels as of April 30, 2025.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term Loans | $— | $285833456 | $3026818 | $288860274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds |  | 4159184 |  | 4159184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset Backed Securities |  | 2483953 |  | 2483953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign Bond |  | 822991 |  | 822991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Warrant |  | 3299 |  | 3299 |
| **Total** | $**—** | $**293302883** | $**3026818** | $**296329701** |

---

Some of the Fund's investments that were categorized as Level 3 were valued utilizing third party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of Level 3 investments.<br>A reconciliation of assets in which Level 3 inputs are used in determining fair value is presented when there are significant Level 3 investments at the end of the period. The following summarizes inputs (level 3) used as of April 30, 2025:

---

| | |
|:---|:---|
| Balance as of July 31, 2024 | $1176781 |
| Realized gain (loss) | (35760) |
| Change in unrealized appreciation (depreciation) | 936575 |
| Purchases | 3866319 |
| Sales | (3589143) |
| Amortization (accretion) |  |
| Transfers into Level 3 | 672046 |
| Transfers out of Level 3 |  |
| Balance as of April 30, 2025 | 3026818 |
| Net change in unrealized appreciation (depreciation) from investments still held as of April 30, 2025: | $944640 |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Virtus ETF Trust II

- **b. Investment Company Act file number:** 811-23078

- **c. CIK number of Registrant:** 0001648403

- **d. LEI of Registrant:** 549300KNJ4HBWHIYD309

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

  - **Street Address 1:** 1540 Broadway

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10036

  - **Telephone number:** 212-493-4383

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

- **a. Name of Series:** Virtus Seix Senior Loan ETF

- **b. EDGAR series identifier (if any):** S000064735

- **c. LEI of Series:** 5493002FXOZ36VHY8T45

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

- **a. Date of fiscal year-end:** 2025-07-31

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $362870037.12

**Total Liabilities:** $61893554.96

**Net Assets:** $300976482.16

**Cash Not Reported:** $30092331.75

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** -3564.74835600 | **30-Year:** -943.02444290

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

- **3-Month:** 0.00000000 | **1-Year:** -188.31556880 | **5-Year:** -39005.77437000 | **10-Year:** -48320.48990000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000209678 | 0.01%                | -0.45%               | -0.40%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-74654.74               | $-1925707.28                               |
| Month 2  | $-1440955.42             | $-2048945.04                               |
| Month 3  | $-1397568.61             | $-2159708.04                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Finco I LLC                                                              | FINCO I LLC                                 | CUSIP: 31774BAG9<br>LEI: 5493001RSEZ0X6VJMC68 | Long             | LON              | CORP              | US        |    199500 | PA      | $199325.44    | 0.07%             | 2029-06-27      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| Neptune Bidco Us Inc.                                                    | Neptune Bidco US Inc                        | CUSIP: 64069JAC6<br>LEI: 549300VG15T3VCYZ4531 | Long             | LON              | CORP              | US        |   2000000 | PA      | $1770570.00   | 0.59%             | 2029-04-11      | Floating      | 9.33%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                                                           | Gray Media Inc                              | CUSIP: 389375AL0<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    300000 | PA      | $179250.00    | 0.06%             | 2030-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| WaterBridge Midstream Operating LLC                                      | WATERBRIDGE MIDS 06/21/29                   | CUSIP: 94120XAF2<br>LEI: 549300DVU86VSP486341 | Long             | LON              | CORP              | US        |   4151020 | PA      | $3975743.47   | 1.32%             | 2029-06-27      | Floating      | 9.05%                 | No            |                  2 | On Loan: No      |
| Peer Holding III BV                                                      | Peer Hldg I 07/01/31                        | CUSIP: 000000000<br>LEI: 7245002S0K5Q59JCVQ03 | Long             | LON              | CORP              | NL        |    683288 | PA      | $681367.46    | 0.23%             | 2031-07-01      | Floating      | 6.80%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc                                                           | SABRE GLBL INC 06/30/28                     | CUSIP: 78571YBJ8<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |   1395783 | PA      | $1326001.21   | 0.44%             | 2028-06-30      | Floating      | 9.42%                 | No            |                  2 | On Loan: No      |
| Invenergy Thermal Operating I LLC                                        | INVENERGY 08/14/29                          | CUSIP: 46123UAK4<br>LEI: 549300JF5R5BXJAMZL67 | Long             | LON              | CORP              | US        |    526289 | PA      | $529577.87    | 0.18%             | 2029-08-14      | Floating      | 8.06%                 | No            |                  3 | On Loan: No      |
| First Advantage Holdings LLC                                             | FIRST ADVANTAGE 11/04/31                    | CUSIP: 78477MAG6<br>LEI: 549300MRQE5MQEH3BI02 | Long             | LON              | CORP              | US        |    997500 | PA      | $991889.06    | 0.33%             | 2031-10-31      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| Avolon TLB Borrower 1 (US) LLC                                           | AVOLON TLB BORRO 06/21/30                   | CUSIP: 05400KAJ9<br>LEI: 635400O84AGITYFZQB55 | Long             | LON              | CORP              | US        |   1830889 | PA      | $1825936.14   | 0.61%             | 2030-06-24      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| Apex Group Treasury Limited                                              | APEX GROUP TREAS 02/19/32                   | CUSIP: 000000000<br>LEI: 254900N6HRPDDNW7HP03 | Long             | LON              | CORP              | US        |   1005000 | PA      | $1003537.73   | 0.33%             | 2032-02-27      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| Third Coast Infrastructure LLC                                           | THIRD COAST INFR 09/25/30                   | CUSIP: 88412KAC6<br>LEI: 5493006R4EN78GPJ4M96 | Long             | LON              | CORP              | US        |   2870446 | PA      | $2813037.23   | 0.93%             | 2030-09-25      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                                                 | Warnermedia Holdings Inc                    | CUSIP: 55903VBC6<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1713279.26   | 0.57%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| Consolidated Energy Finance SA                                           | CONSOLIDATED E 11/07/30                     | CUSIP: 000000000<br>LEI: 549300PUNIS0USNSL750 | Long             | LON              | CORP              | LU        |   1554325 | PA      | $1435248.05   | 0.48%             | 2030-11-15      | Floating      | 8.81%                 | No            |                  2 | On Loan: No      |
| Cengage Learning Inc                                                     | CENGAGE LEARNIN 03/22/24                    | CUSIP: 15131YAQ8<br>LEI: 549300BYGM0FWUSVXJ88 | Long             | LON              | CORP              | US        |    501272 | PA      | $499790.98    | 0.17%             | 2031-03-22      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| Calpine Corporation                                                      | Calpine 02/15/32                            | CUSIP: 13134MBX0<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | LON              | CORP              | US        |   1735000 | PA      | $1729690.90   | 0.57%             | 2032-02-15      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| Cengage Learning Inc                                                     | Cengage Learnin 03/22/24                    | CUSIP: 15131YAQ8<br>LEI: 549300BYGM0FWUSVXJ88 | Long             | LON              | CORP              | US        |    262759 | PA      | $261982.68    | 0.09%             | 2031-03-22      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| Blackstone Mortgage Trust Inc                                            | BLACKSTONE MORTG 05/02/29                   | CUSIP: 09259GAF0<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | LON              | CORP              | US        |    398974 | PA      | $397478.21    | 0.13%             | 2029-05-09      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| Neptune Bidco Us Inc.                                                    | NI 04/11/29                                 | CUSIP: 64069JAC6<br>LEI: 549300VG15T3VCYZ4531 | Long             | LON              | CORP              | US        |    819126 | PA      | $725159.81    | 0.24%             | 2029-04-11      | Floating      | 9.33%                 | No            |                  2 | On Loan: No      |
| Cpv Fairview, LLC                                                        | CPV FAIRVIE 08/14/31                        | CUSIP: 12620SAB9<br>LEI: 549300SLZ4P6TH9PTH93 | Long             | LON              | CORP              | US        |    949773 | PA      | $955314.65    | 0.32%             | 2031-08-14      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| Russell Investments US Institutional Holdco Inc.                         | RUSSELL INVTS US 05/30/27                   | CUSIP: 78249LAE0<br>LEI: 5493008YG7V0FQCJQI74 | Long             | LON              | CORP              | US        |   1048656 | PA      | $980498.28    | 0.33%             | 2027-05-30      | Floating      | 10.04%                | No            |                  2 | On Loan: No      |
| Asurion LLC                                                              | ASURION LLC 01/20/29                        | CUSIP: 04649VBA7<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |   2015000 | PA      | $1856318.75   | 0.62%             | 2029-01-20      | Floating      | 9.69%                 | No            |                  2 | On Loan: No      |
| Insulet Corporation                                                      | Insulet 08/04/31                            | CUSIP: 45784QAE9<br>LEI: 549300TZTYD2PYN92D43 | Long             | LON              | CORP              | US        |    372101 | PA      | $372658.68    | 0.12%             | 2031-08-04      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| Invenergy Thermal Operating I LLC                                        | INVENERGY 08/14/29                          | CUSIP: 46123UAL2<br>LEI: 549300JF5R5BXJAMZL67 | Long             | LON              | CORP              | US        |     53571 | PA      | $53906.25     | 0.02%             | 2029-08-03      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Starwood Property Mortgage LLC                                           | STARWOOD PPTY MT 12/12/29                   | CUSIP: 85570DAL6<br>LEI: 5493008SB15CNJRIOK13 | Long             | LON              | CORP              | US        |   1211962 | PA      | $1211968.56   | 0.40%             | 2030-01-02      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| UST Global Inc                                                           | UST GLO 11/20/28                            | CUSIP: 90355HAB0<br>LEI: 984500398691E4511Z04 | Long             | LON              | CORP              | US        |    970833 | PA      | $971439.33    | 0.32%             | 2028-11-20      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| Vertex Aerospace Services Corp                                           | VERTEX AEROSPACE 12/06/30                   | CUSIP: 92532MAE5<br>LEI: 549300YOTFEWSPUJ2D47 | Long             | LON              | CORP              | US        |   1246875 | PA      | $1232074.59   | 0.41%             | 2030-12-06      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| ABG Intermediate Holdings 2 LLC                                          | ABG INTER HLDGS 02/13/32                    | CUSIP: 00076VBM1<br>LEI: 54930020NXD0RJB64985 | Long             | LON              | CORP              | US        |    225000 | PA      | $220640.63    | 0.07%             | 2032-02-13      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| Covia Holdings Corporation                                               | Covia Hldg 02/14/32                         | CUSIP: 000000000<br>LEI: 213800IE4YGTGVTQ1806 | Long             | LON              | CORP              | US        |    640000 | PA      | $640000.00    | 0.21%             | 2032-02-26      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| Quikrete Holdings Inc                                                    | QUIKRETE HLDG 04/14/31                      | CUSIP: 74839XAM1<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |    745500 | PA      | $732644.18    | 0.24%             | 2031-04-14      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| Digital Media Solutions LLC                                              | DIGITAL MEDIA SO 05/25/26                   | CUSIP: 25401HAD6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    117476 | PA      | $64094.69     | 0.02%             | 2026-05-25      | Floating      | 15.43%                | No            |                  3 | On Loan: No      |
| Perforce Software Inc                                                    | PERFORCE SOFTWAR 03/24/31                   | CUSIP: 71376GAJ0<br>LEI: 549300322GBMUSL1VG17 | Long             | LON              | CORP              | US        |    496250 | PA      | $468956.25    | 0.16%             | 2031-03-21      | Floating      | 9.07%                 | No            |                  2 | On Loan: No      |
| Organon & Co                                                             | Organ 05/19/31                              | CUSIP: 68621XAG8<br>LEI: 549300AMCKY57OK2CO56 | Long             | LON              | CORP              | US        |   1796927 | PA      | $1725050.32   | 0.57%             | 2031-05-19      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| Ziggo Financing Partnership                                              | ZIGGO BV 04/30/28                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1707442 | PA      | $1683580.41   | 0.56%             | 2028-04-30      | Floating      | 6.94%                 | No            |                  2 | On Loan: No      |
| Jane Street Group LLC                                                    | JANE STR GROU 12/11/31                      | CUSIP: 47077DAM2<br>LEI: 5493002N1IVX6KHGYO08 | Long             | LON              | CORP              | US        |    166858 | PA      | $164796.63    | 0.05%             | 2031-12-15      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| Autokiniton US Holdings Inc                                              | AUTOKINITON US H 04/06/28                   | CUSIP: 05278HAC0<br>LEI: 254900EHNKMJ1OSEZL85 | Long             | LON              | CORP              | US        |   1488693 | PA      | $1467762.45   | 0.49%             | 2028-04-06      | Floating      | 8.44%                 | No            |                  2 | On Loan: No      |
| Caci International Inc                                                   | CACI Int 10/17/31                           | CUSIP: 12718FAL8<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | LON              | CORP              | US        |    488775 | PA      | $487247.58    | 0.16%             | 2031-10-30      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| Goodnight Water Solutions Holdings, LLC                                  | GOODNIGHT WATER 05/31/29                    | CUSIP: 38238YAC3<br>LEI: 254900CZJ6KUEVU9QV27 | Long             | LON              | CORP              | US        |   1675215 | PA      | $1650086.92   | 0.55%             | 2029-06-04      | Floating      | 8.82%                 | No            |                  2 | On Loan: No      |
| Jane Street Group LLC                                                    | JANE STR GROU 12/11/31                      | CUSIP: 47077DAM2<br>LEI: 5493002N1IVX6KHGYO08 | Long             | LON              | CORP              | US        |   1395317 | PA      | $1378077.75   | 0.46%             | 2031-12-15      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| Ineos Quattro Holdings UK Limited                                        | INEOS QUATTRO HL 10/01/31                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1105000 | PA      | $933725.00    | 0.31%             | 2031-10-01      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| Soliant Lower Intermediate LLC                                           | SOLIANT LOWER IN 06/20/31                   | CUSIP: 83421EAB2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    957600 | PA      | $935455.50    | 0.31%             | 2031-07-18      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| Virgin Media Bristol LLC                                                 | VIRGIN MEDIA BRI 01/31/29                   | CUSIP: 000000000<br>LEI: 213800IQ982XX69LE276 | Long             | LON              | CORP              | US        |   1500000 | PA      | $1481332.50   | 0.49%             | 2029-01-31      | Floating      | 7.69%                 | No            |                  2 | On Loan: No      |
| Bombardier Recreational Products Inc                                     | Bombardier Recre 01/22/31                   | CUSIP: 09776MAT1<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |   1225666 | PA      | $1185832.07   | 0.39%             | 2031-01-22      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| Altisource Portfolio Solutions SA -Warrant                               | Altisource Portfolio Solutions SA -Warrant  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      3266 | NC      | $3298.66      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Red SPV LLC                                                              | RED SP 03/06/32                             | CUSIP: 75701MAE5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    780000 | PA      | $777075.00    | 0.26%             | 2032-03-15      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| AMG Advanced Metallurgical Group NV                                      | AMG Advanced Met 11/30/28                   | CUSIP: 000000000<br>LEI: 5493006MN6OH67U2YI74 | Long             | LON              | CORP              | NL        |    834518 | PA      | $811051.21    | 0.27%             | 2028-11-30      | Floating      | 7.94%                 | No            |                  2 | On Loan: No      |
| Oscar AcquisitionCo LLC                                                  | OSCAR ACQUISITIO 04/29/29                   | CUSIP: 68778DAB4<br>LEI: 254900RDCZK0Q19MEL65 | Long             | LON              | CORP              | US        |   1852776 | PA      | $1776932.15   | 0.59%             | 2029-04-29      | Floating      | 8.55%                 | No            |                  2 | On Loan: No      |
| VM Consolidated Inc                                                      | VM CONSOLIDATE 03/24/28                     | CUSIP: 00215NAN0<br>LEI: 549300GCTGJLEBXJUK89 | Long             | LON              | CORP              | US        |    713400 | PA      | $714402.10    | 0.24%             | 2028-03-24      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| Dynamo Us Bidco Inc.                                                     | DYNAMO US BIDCO INC                         | CUSIP: 26806DAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    500000 | PA      | $498750.00    | 0.17%             | 2031-10-01      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| Hdi Aerospace Intermediate Holding Iii Corporation                       | HDI AEROSPACE IN 09/19/31                   | CUSIP: 40415WAB0<br>LEI: 254900LKRYAGKIYOHW04 | Long             | LON              | CORP              | US        |   1700000 | PA      | $1695750.00   | 0.56%             | 2032-02-11      | Floating      | 8.73%                 | No            |                  2 | On Loan: No      |
| Triton Water Holdings Inc                                                | TRITON WATER HLD 03/31/28                   | CUSIP: 89678QAD8<br>LEI: 254900J0WS4AXV2LAX55 | Long             | LON              | CORP              | US        |   1452944 | PA      | $1443681.45   | 0.48%             | 2028-03-31      | Floating      | 6.55%                 | No            |                  2 | On Loan: No      |
| BRUNDAGE-BONE CONCRETE                                                   | Brundage-Bone Concrete Pumping Holdings Inc | CUSIP: 66981QAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $976843.03    | 0.32%             | 2032-02-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Alliance Laundry Systems LLC                                             | Alliance Laundry 08/19/31                   | CUSIP: 01862LBA5<br>LEI: 549300YBOGK6MBI5ND34 | Long             | LON              | CORP              | US        |    500000 | PA      | $497095.00    | 0.17%             | 2031-08-19      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| Dynamo Us Bidco Inc.                                                     | DYNAMO US BIDC 10/01/31                     | CUSIP: 26806DAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    995000 | PA      | $992512.50    | 0.33%             | 2031-10-01      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc                                      | CLYDESDALE ACQUI 03/27/32                   | CUSIP: 18972FAE2<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |    884536 | PA      | $878459.32    | 0.29%             | 2032-03-26      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| Team Services Group LLC                                                  | TEAM PUBLIC CHOICES LLC                     | CUSIP: 87821EAF0<br>LEI: 2549000UQACQVCO13Y82 | Long             | LON              | CORP              | US        |    867769 | PA      | $840434.50    | 0.28%             | 2027-12-20      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Neptune Bidco US Inc                                                     | NEPTUNE BIDCO U 10/11/29                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    985000 | PA      | $975150.00    | 0.32%             | 2029-10-11      | Floating      | 14.08%                | No            |                  2 | On Loan: No      |
| Frontdoor Inc                                                            | FRONTDOO 12/16/31                           | CUSIP: 35905CAK1<br>LEI: 5493008RB0JZJI3QGZ06 | Long             | LON              | CORP              | US        |    428925 | PA      | $427316.53    | 0.14%             | 2031-12-17      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| Edgewater Generation LLC                                                 | EDGEWATER GENERA 08/01/30                   | CUSIP: 28031FAM2<br>LEI: 5493004PLDT1L28SWG83 | Long             | LON              | CORP              | US        |    484570 | PA      | $484266.74    | 0.16%             | 2030-08-01      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| Ontario Gaming Gta Ltd Partnership                                       | ONE TORONTO G 07/20/30                      | CUSIP: 000000000<br>LEI: 894500EC9KLZLOC3V025 | Long             | LON              | CORP              | CA        |      3763 | PA      | $3651.40      | 0.00%             | 2030-08-01      | Floating      | 8.55%                 | No            |                  2 | On Loan: No      |
| Clover Holdings 2, LLC                                                   | CLOVER HLDGS 11/01/31                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    625000 | PA      | $625000.00    | 0.21%             | 2031-12-09      | Floating      | 8.29%                 | No            |                  2 | On Loan: No      |
| Pasadena Performance Products LLC                                        | PASADENA PERFORM 02/24/32                   | CUSIP: 70230EAB0<br>LEI: 5493005DW01M0N2KWP70 | Long             | LON              | CORP              | US        |   2000000 | PA      | $1996250.00   | 0.66%             | 2032-02-27      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| Allwyn Entertainment Financing (Us) LLC                                  | ALLWYN ENTERTAINMENT FINANCING US LLC       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    785000 | PA      | $775839.05    | 0.26%             | 2031-06-02      | Floating      | 6.23%                 | No            |                  2 | On Loan: No      |
| Starlight Parent LLC                                                     | STARLIGHT PAREN 03/15/32                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    810000 | PA      | $783930.15    | 0.26%             | 2032-04-16      | Floating      | 8.26%                 | No            |                  2 | On Loan: No      |
| Compass Power Generation, L.L.C.                                         | COMPASS PWR GENE 04/16/29                   | CUSIP: 20451VAF0<br>LEI: 5493001FXZ2XUTES8E29 | Long             | LON              | CORP              | US        |   1129054 | PA      | $1134698.97   | 0.38%             | 2029-04-14      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| AMG Advanced Metallurgical Group NV                                      | AMG Advanced Met 11/30/28                   | CUSIP: 000000000<br>LEI: 5493006MN6OH67U2YI74 | Long             | LON              | CORP              | NL        |    339116 | PA      | $329580.24    | 0.11%             | 2028-11-30      | Floating      | 7.94%                 | No            |                  2 | On Loan: No      |
| Oravel Stays Private Limited                                             | ORAVEL STAYS SIN 12/20/29                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | SG        |    543380 | PA      | $536587.28    | 0.18%             | 2029-12-20      | Floating      | 12.30%                | No            |                  2 | On Loan: No      |
| Chemours Company (The)                                                   | Chemou 08/18/28                             | CUSIP: 16384YAJ6<br>LEI: 549300M1BOLNXL8DOV14 | Long             | LON              | CORP              | US        |   1236823 | PA      | $1209507.91   | 0.40%             | 2028-08-18      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| Ensono LP                                                                | ENSONO 05/20/28                             | CUSIP: 29359DAB3<br>LEI: 5493003GTMBHX0VZAW67 | Long             | LON              | CORP              | US        |   1011160 | PA      | $999628.17    | 0.33%             | 2028-05-26      | Floating      | 8.44%                 | No            |                  2 | On Loan: No      |
| Oravel Stays Private Limited                                             | ORAVEL STAYS SIN 12/20/29                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | SG        |    861620 | PA      | $850850.22    | 0.28%             | 2029-12-20      | Floating      | 12.30%                | No            |                  2 | On Loan: No      |
| Finco I LLC                                                              | FINCO 06/27/29                              | CUSIP: 31774BAG9<br>LEI: 5493001RSEZ0X6VJMC68 | Long             | LON              | CORP              | US        |    591019 | PA      | $590501.60    | 0.20%             | 2029-06-27      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| Brazos Delaware II LLC                                                   | Brazos DE I 02/11/30                        | CUSIP: 10620UAL6<br>LEI: 549300V1BTYXZRGYUU04 | Long             | LON              | CORP              | US        |    468750 | PA      | $468515.63    | 0.16%             | 2030-02-11      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| Inmar Inc                                                                | Inma 10/30/31                               | CUSIP: 45763FAT5<br>LEI: 549300N1ML5MXXFIDZ25 | Long             | LON              | CORP              | US        |     76591 | PA      | $76590.61     | 0.03%             | 2031-10-30      | Floating      | 9.31%                 | No            |                  2 | On Loan: No      |
| Carroll County Energy LLC                                                | CARROLL CNTY ENE 06/24/31                   | CUSIP: 14474FAY0<br>LEI: 549300P5WM1CIGEGUG23 | Long             | LON              | CORP              | US        |    924563 | PA      | $929185.56    | 0.31%             | 2031-06-30      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| Inmar Inc                                                                | Inma 05/01/26                               | CUSIP: 45763FAT5<br>LEI: 549300N1ML5MXXFIDZ25 | Long             | LON              | CORP              | US        |    419993 | PA      | $419992.70    | 0.14%             | 2031-10-30      | Floating      | 9.31%                 | No            |                  2 | On Loan: No      |
| Quikrete Holdings Inc                                                    | QUIKRETE HLDG 02/10/32                      | CUSIP: 74839XAL3<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |    325000 | PA      | $319034.63    | 0.11%             | 2032-02-10      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| Franklin Square Holdings LP                                              | FRANKLIN SQUARE 04/18/31                    | CUSIP: 30259HAG2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    516100 | PA      | $514809.75    | 0.17%             | 2031-04-25      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| Inmar Inc                                                                | Inma 05/01/26                               | CUSIP: 45763FAT5<br>LEI: 549300N1ML5MXXFIDZ25 | Long             | LON              | CORP              | US        |    439727 | PA      | $439726.65    | 0.15%             | 2031-10-30      | Floating      | 9.31%                 | No            |                  2 | On Loan: No      |
| Summer (BC) Bidco B LLC                                                  | SUMMER BC HOLDCO B SARL                     | CUSIP: 000000000<br>LEI: 984500NRF59D5DB9B654 | Long             | LON              | CORP              | LU        |    478788 | PA      | $474598.49    | 0.16%             | 2029-02-15      | Floating      | 9.56%                 | No            |                  2 | On Loan: No      |
| Eastern Power LLC                                                        | EASTERN PW 10/02/25                         | CUSIP: 87264NAB3<br>LEI: 5493000R3E1L1VM1V279 | Long             | LON              | CORP              | US        |   1373157 | PA      | $1358711.81   | 0.45%             | 2028-04-03      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| Fugue Finance LLC                                                        | Bach Fi 01/09/32                            | CUSIP: 000000000<br>LEI: 254900Y4DWBRGAFENC88 | Long             | LON              | CORP              | HK        |    771903 | PA      | $771999.62    | 0.26%             | 2032-01-09      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| EFS Cogen Holdings I LLC                                                 | EFS COGEN HLDGS 10/01/27                    | CUSIP: 26844HAJ6<br>LEI: 549300KDKPYR8NXXKI52 | Long             | LON              | CORP              | US        |    992500 | PA      | $994465.15    | 0.33%             | 2031-10-03      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| Allen Media LLC                                                          | ALLEN MEDIA 02/10/27                        | CUSIP: 01771JAG8<br>LEI: 549300ERNJNM4RN5JP79 | Long             | LON              | CORP              | US        |    362943 | PA      | $182016.11    | 0.06%             | 2027-02-10      | Floating      | 9.95%                 | No            |                  2 | On Loan: No      |
| Neptune Bidco Us Inc.                                                    | NEPTUNE BIDCO U 10/11/28                    | CUSIP: 64069JAF9<br>LEI: 549300VG15T3VCYZ4531 | Long             | LON              | CORP              | US        |    227603 | PA      | $200210.03    | 0.07%             | 2028-10-11      | Floating      | 9.08%                 | No            |                  2 | On Loan: No      |
| Nortonlifelock Inc                                                       | Gen Digita 09/12/29                         | CUSIP: 66877AAF5<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | LON              | CORP              | US        |    694608 | PA      | $689784.42    | 0.23%             | 2029-09-12      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| Aspire Bakeries Holdings LLC                                             | ASPRIE BAKERIES 12/16/30                    | CUSIP: 000000000<br>LEI: 549300MWN7R72KAKOD18 | Long             | LON              | CORP              | US        |    596985 | PA      | $598477.38    | 0.20%             | 2030-12-23      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                                              | ASURIO 09/13/30                             | CUSIP: 04649VBD1<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |   1717799 | PA      | $1646673.49   | 0.55%             | 2030-09-19      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| WH Borrower LLC                                                          | WH BORROWE 02/17/32                         | CUSIP: 000000000<br>LEI: 2549009H920CQUE3R944 | Long             | LON              | CORP              | US        |   1850000 | PA      | $1782937.50   | 0.59%             | 2032-02-12      | Floating      | 9.07%                 | No            |                  2 | On Loan: No      |
| Potomac Energy Center, LLC                                               | POTOMAC ENERGY CENTER LLC                   | CUSIP: 000000000<br>LEI: 549300BHYFK6M9HVNA29 | Long             | LON              | CORP              | US        |   1250000 | PA      | $1245312.50   | 0.41%             | 2032-03-14      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Natgasoline LLC                                                          | NATGASOLINE LLC                             | CUSIP: 000000000<br>LEI: 549300OHXDYMQYZOWC24 | Long             | LON              | CORP              | US        |    170000 | PA      | $166387.50    | 0.06%             | 2030-03-29      | Floating      | 9.80%                 | No            |                  2 | On Loan: No      |
| Univision Communications Inc                                             | Univision Comm 01/23/29                     | CUSIP: 914908BG2<br>LEI: 549300YQDE2JSGTL8V47 | Long             | LON              | CORP              | US        |   1966523 | PA      | $1895236.69   | 0.63%             | 2029-01-31      | Floating      | 7.94%                 | No            |                  2 | On Loan: No      |
| Oeg Borrower, LLC                                                        | OEG BORROWE 06/25/31                        | CUSIP: 67115HAG8<br>LEI: 254900UUVX9EYPUMP391 | Long             | LON              | CORP              | US        |   1492500 | PA      | $1489701.56   | 0.49%             | 2031-06-30      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| Cobham Ultra Seniorco S.A R.L.                                           | COBHAM (AI CONVO 11/17/28                   | CUSIP: 000000000<br>LEI: 254900L6IKLPZKIC4F32 | Long             | LON              | CORP              | LU        |   3441681 | PA      | $3390055.90   | 1.13%             | 2029-08-06      | Floating      | 8.43%                 | No            |                  2 | On Loan: No      |
| VFH Parent LLC                                                           | VFH PAREN 06/21/31                          | CUSIP: 91820UAV2<br>LEI: 549300FRO9M476YHHY64 | Long             | LON              | CORP              | US        |    641769 | PA      | $640164.09    | 0.21%             | 2031-06-21      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| Adeia Inc                                                                | Adei 06/08/28                               | CUSIP: 98422BAD1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1988895 | PA      | $1973978.62   | 0.66%             | 2028-06-08      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| Stonepeak Nile Parent LLC                                                | STONEPEAK NILE P 02/03/32                   | CUSIP: 86184XAB0<br>LEI: 254900TJV3VAFZD0GU41 | Long             | LON              | CORP              | US        |    665000 | PA      | $654749.03    | 0.22%             | 2032-04-09      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Forest City Enterprises LP                                               | Forest City Ente 12/08/25                   | CUSIP: 34555QAF7<br>LEI: 54930078MCT017XXRD21 | Long             | LON              | CORP              | US        |   2780000 | PA      | $2682310.80   | 0.89%             | 2025-12-08      | Floating      | 7.94%                 | No            |                  2 | On Loan: No      |
| EIG Management Company LLC                                               | EIG MGMT C 05/14/29                         | CUSIP: 26858HAD2<br>LEI: 5493007EDFEL0IR8BD89 | Long             | LON              | CORP              | US        |    424625 | PA      | $420378.75    | 0.14%             | 2029-05-17      | Floating      | 9.32%                 | No            |                  2 | On Loan: No      |
| Forest City Enterprises LP                                               | Forest City Enterprises LP                  | CUSIP: 34555QAF7<br>LEI: 54930078MCT017XXRD21 | Long             | LON              | CORP              | US        |    665000 | PA      | $641631.90    | 0.21%             | 2025-12-08      | Floating      | 7.94%                 | No            |                  2 | On Loan: No      |
| Cable One Inc                                                            | Cable On 05/03/28                           | CUSIP: 12685LAG5<br>LEI: 549300648QS85T0XSH18 | Long             | LON              | CORP              | US        |    962500 | PA      | $943851.56    | 0.31%             | 2028-05-03      | Floating      | 6.44%                 | No            |                  2 | On Loan: No      |
| Lendingtree Inc                                                          | LENDINGTREE 09/15/28                        | CUSIP: 52602KAC2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1239848 | PA      | $1231324.05   | 0.41%             | 2028-09-15      | Floating      | 8.44%                 | No            |                  2 | On Loan: No      |
| MaxLinear Inc                                                            | MaxLinea 06/23/28                           | CUSIP: 57776UAH8<br>LEI: 549300EMOI0SM2IY4F64 | Long             | LON              | CORP              | US        |   1201483 | PA      | $1111371.47   | 0.37%             | 2028-06-23      | Floating      | 6.69%                 | No            |                  2 | On Loan: No      |
| Citadel Securities LP                                                    | CITADEL SE 10/31/31                         | CUSIP: 17288YAN2<br>LEI: 549300NV5RXBUS3X7L47 | Long             | LON              | CORP              | US        |   1193683 | PA      | $1193474.37   | 0.40%             | 2031-10-31      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| NGP XI Midstream Holdings LLC                                            | NGP XI MIDSTREAM 07/25/31                   | CUSIP: 62927UAB9<br>LEI: 2549002U9Q0WZYCHRJ82 | Long             | LON              | CORP              | US        |   2344125 | PA      | $2320683.75   | 0.77%             | 2031-07-25      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| Rockpoint Gas Storage Partners LP                                        | ROCKPOINT GAS ST 09/18/31                   | CUSIP: 000000000<br>LEI: 549300ZXM0KTRM0NMI59 | Long             | LON              | CORP              | CA        |    708225 | PA      | $701362.30    | 0.23%             | 2031-09-18      | Floating      | 7.30%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                                 | Lumen Tec 06/01/28                          | CUSIP: 55024EAD7<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |   1792667 | PA      | $1790802.82   | 0.59%             | 2028-06-01      | Floating      | 10.32%                | No            |                  2 | On Loan: No      |
| MOUNTAIN VIEW CLO                                                        | Mountain View CLO XVIII Ltd                 | CUSIP: 623908AL4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1001762.00   | 0.33%             | 2037-10-16      | Floating      | 7.91%                 | No            |                  2 | On Loan: No      |
| LCPR Loan Financing LLC                                                  | LCPR LOAN FINANCING LLC                     | CUSIP: 50183CAC1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    485000 | PA      | $394062.50    | 0.13%             | 2028-10-16      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Emerald Expositions Holding Inc.                                         | Emerald X, 01/23/32                         | CUSIP: 29088UAG2<br>LEI: 549300YQCBSQUCZ74696 | Long             | LON              | CORP              | US        |    400000 | PA      | $400502.00    | 0.13%             | 2032-01-23      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| CPPIB OVM Member U.S. LLC                                                | CPPIB OVM MEMBER 08/20/31                   | CUSIP: 12673CAB0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    901170 | PA      | $896145.76    | 0.30%             | 2031-08-20      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| LifePoint Health Inc                                                     | LIFEPOINT HEALTH INC                        | CUSIP: 75915TAL6<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |    385000 | PA      | $376899.60    | 0.13%             | 2031-05-16      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Rockpoint Gas Storage Partners LP                                        | ROCKPOINT GAS ST 09/18/31                   | CUSIP: 000000000<br>LEI: 549300ZXM0KTRM0NMI59 | Long             | LON              | CORP              | CA        |   1062338 | PA      | $1052043.45   | 0.35%             | 2031-09-18      | Floating      | 7.30%                 | No            |                  2 | On Loan: No      |
| Natgasoline LLC                                                          | NATGASOLIN 03/24/30                         | CUSIP: 000000000<br>LEI: 549300OHXDYMQYZOWC24 | Long             | LON              | CORP              | US        |    755000 | PA      | $738956.25    | 0.25%             | 2030-03-29      | Floating      | 9.80%                 | No            |                  2 | On Loan: No      |
| Talen Energy Supply LLC                                                  | Talen Energy Sup 12/11/31                   | CUSIP: 87422LAY6<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | LON              | CORP              | US        |    872812 | PA      | $871490.19    | 0.29%             | 2031-12-12      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| Voyage Digital (Nz) Limited                                              | VOYAGE DIGITAL N 05/11/29                   | CUSIP: 000000000<br>LEI: 984500E641C3F2A8E121 | Long             | LON              | CORP              | NZ        |    494643 | PA      | $490933.33    | 0.16%             | 2029-05-11      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| Hightower Holdings LLC                                                   | HIGHTOWER HLDG 01/16/32                     | CUSIP: 43117LAN3<br>LEI: 254900MKOSB7RTMA9K12 | Long             | LON              | CORP              | US        |   1139485 | PA      | $1122392.24   | 0.37%             | 2032-02-03      | Floating      | 7.29%                 | No            |                  2 | On Loan: No      |
| Apollo Commercial Real Estate Finance Inc                                | Apollo Coml Real 03/11/28                   | CUSIP: 03768DAC1<br>LEI: 549300E0AN7M2AQHSY29 | Long             | LON              | CORP              | US        |   1496104 | PA      | $1481142.86   | 0.49%             | 2028-03-11      | Floating      | 7.94%                 | No            |                  2 | On Loan: No      |
| Digital Media Solutions LLC                                              | DIGITAL MEDIA SO 04/26/28                   | CUSIP: 25401HAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    378886 | PA      | $47360.73     | 0.02%             | 2026-05-25      | Floating      | 15.43%                | No            |                  2 | On Loan: No      |
| Numericable U.S. LLC                                                     | ALTICE FRAN 08/15/28                        | CUSIP: 000000000<br>LEI: 5493001ZMCICV4N02J21 | Long             | LON              | CORP              | FR        |   1806320 | PA      | $1633364.43   | 0.54%             | 2028-08-15      | Floating      | 9.76%                 | No            |                  2 | On Loan: No      |
| Igloo Holdings Corp                                                      | Minimax Viking 02/20/32                     | CUSIP: 55404TAF9<br>LEI: 549300RKTIVJWNROR778 | Long             | LON              | CORP              | US        |    320000 | PA      | $319200.00    | 0.11%             | 2032-03-17      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| Ineos US Finance LLC                                                     | Ineos US Fi 02/07/31                        | CUSIP: 000000000<br>LEI: 5493008MHJ4R367SNK31 | Long             | LON              | CORP              | US        |    981123 | PA      | $910398.92    | 0.30%             | 2031-02-07      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| Nexus Buyer LLC                                                          | NEXUS BUYE 07/31/31                         | CUSIP: 65343UAH5<br>LEI: 254900PILSANV8WOOF24 | Long             | LON              | CORP              | US        |   1679951 | PA      | $1677271.38   | 0.56%             | 2031-07-31      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| Ineos US Finance LLC                                                     | Ineos US Fi 02/07/31                        | CUSIP: 000000000<br>LEI: 5493008MHJ4R367SNK31 | Long             | LON              | CORP              | US        |   1223338 | PA      | $1135153.65   | 0.38%             | 2031-02-07      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| Transdigm Inc                                                            | Transdig 09/05/32                           | CUSIP: 89364MCD4<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |   2079550 | PA      | $2060813.25   | 0.68%             | 2032-01-19      | Floating      | 6.80%                 | No            |                  2 | On Loan: No      |
| Hexion Holdings Corporation                                              | HEXION HLDGS 03/15/30                       | CUSIP: 42829JAB5<br>LEI: 549300LBB370MUHGLV84 | Long             | LON              | CORP              | US        |     77647 | PA      | $73440.92     | 0.02%             | 2030-03-15      | Floating      | 11.86%                | No            |                  2 | On Loan: No      |
| TRC Companies LLC                                                        | TRC CO 12/08/28                             | CUSIP: 29280KAH8<br>LEI: 254900PXZ95ALUX12V67 | Long             | LON              | CORP              | US        |   1418193 | PA      | $1412520.32   | 0.47%             | 2028-12-08      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| Nexus Buyer LLC                                                          | NEXUS BUYE 07/31/31                         | CUSIP: 65343UAH5<br>LEI: 254900PILSANV8WOOF24 | Long             | LON              | CORP              | US        |     68268 | PA      | $68158.70     | 0.02%             | 2031-07-31      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| Golden Entertainment Inc                                                 | Golden Entm 05/28/30                        | CUSIP: 000000000<br>LEI: 549300P8YYCKQVJ0Y638 | Long             | LON              | CORP              | US        |   2376888 | PA      | $2353119.00   | 0.78%             | 2030-05-26      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| Construction Partners Inc                                                | Constr Partner 10/29/31                     | CUSIP: 21043XAH5<br>LEI: 549300MHLFL4E8JLZU44 | Long             | LON              | CORP              | US        |    696125 | PA      | $692355.48    | 0.23%             | 2031-11-03      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| Bombardier Recreational Products Inc                                     | BOMBARDIER RECRE 01/31/31                   | CUSIP: 09776MAT1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    792238 | PA      | $766490.38    | 0.25%             | 2031-01-22      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| Jefferies Finance LLC                                                    | JEFFERIES FI 10/21/31                       | CUSIP: 000000000<br>LEI: 549300SKVB18YSSIDT75 | Long             | LON              | CORP              | US        |   1152112 | PA      | $1153552.64   | 0.38%             | 2031-10-21      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| Amneal Pharmaceuticals LLC                                               | AMNEAL PHARMACEU 05/04/28                   | CUSIP: 03167DAQ7<br>LEI: 54930037VIXE7LRZ1M66 | Long             | LON              | CORP              | US        |   2408167 | PA      | $2417354.55   | 0.80%             | 2028-05-04      | Floating      | 9.82%                 | No            |                  2 | On Loan: No      |
| Mermaid Bidco Inc                                                        | MERMAID BIDC 07/03/31                       | CUSIP: 59012CAL9<br>LEI: 254900765HT42I3EW691 | Long             | LON              | CORP              | US        |   1237394 | PA      | $1228113.28   | 0.41%             | 2031-07-03      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| Summer (BC) Bidco B LLC                                                  | Kantar 2/24 Ext 02/05/29                    | CUSIP: 000000000<br>LEI: 984500NRF59D5DB9B654 | Long             | LON              | CORP              | LU        |    923285 | PA      | $915205.79    | 0.30%             | 2029-02-15      | Floating      | 9.56%                 | No            |                  2 | On Loan: No      |
| Glatfelter Corporation                                                   | Glatfelter 09/19/31                         | CUSIP: 89458XAB3<br>LEI: 549300LDQLQBT38QDY28 | Long             | LON              | CORP              | US        |   1745625 | PA      | $1676349.87   | 0.56%             | 2031-11-04      | Floating      | 8.56%                 | No            |                  2 | On Loan: No      |
| KBR Inc                                                                  | KB 01/19/31                                 | CUSIP: 48242YAW2<br>LEI: 254900OFQDXZRKRCV808 | Long             | LON              | CORP              | US        |    927970 | PA      | $929519.63    | 0.31%             | 2031-01-17      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| Jump Financial LLC                                                       | JUMP FIN 02/20/32                           | CUSIP: 48138UAC1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1000000 | PA      | $998750.00    | 0.33%             | 2032-02-20      | Floating      | 8.55%                 | No            |                  2 | On Loan: No      |
| Transdigm Inc                                                            | TRAN 03/14/30                               | CUSIP: 89364MCB8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    628650 | PA      | $628087.36    | 0.21%             | 2030-03-22      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| Ineos Finance PLC                                                        | Ineos US Fi 02/18/30                        | CUSIP: 000000000<br>LEI: 5493008MHJ4R367SNK31 | Long             | LON              | CORP              | US        |   1828312 | PA      | $1715871.28   | 0.57%             | 2030-02-18      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| Victra Holdings LLC aka LSF9 Atlantis Holdings LLC                       | LSF9 ATLANTIS HL 03/31/29                   | CUSIP: 50226BAM0<br>LEI: 549300KWDYQKQSF0MQ18 | Long             | LON              | CORP              | US        |   1773550 | PA      | $1731428.19   | 0.58%             | 2029-03-29      | Floating      | 8.55%                 | No            |                  2 | On Loan: No      |
| Red Planet Borrower LLC                                                  | RED PLANET BORRO 10/02/28                   | CUSIP: 57165KAD8<br>LEI: 254900LGTHBRY5NA0C90 | Long             | LON              | CORP              | US        |    100000 | PA      | $99625.00     | 0.03%             | 2028-10-02      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc                                                           | SABRE GLBL INC                              | CUSIP: 78571YBG4<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |    355321 | PA      | $339555.62    | 0.11%             | 2027-12-17      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| AIT Worldwide Logistics Inc                                              | AIT WORLDWIDE LO 04/08/30                   | CUSIP: 00145AAE3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    478800 | PA      | $460845.00    | 0.15%             | 2030-04-08      | Floating      | 8.30%                 | No            |                  2 | On Loan: No      |
| Coral US Co-Borrower LLC                                                 | CORAL-US CO-BORR 01/30/32                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2070000 | PA      | $2032294.95   | 0.68%             | 2032-01-31      | Floating      | 7.51%                 | No            |                  2 | On Loan: No      |
| Opal Us LLC                                                              | OPAL US LLC                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1705000 | PA      | $1693286.65   | 0.56%             | 2032-03-31      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Pitney Bowes Inc                                                         | PITNEY BOWE 01/31/32                        | CUSIP: 72448FAW5<br>LEI: 549300N2O26NW4ST6W55 | Long             | LON              | CORP              | US        |    380000 | PA      | $374775.00    | 0.12%             | 2032-03-19      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| Primary Products Finance LLC                                             | Prim Prods Fi 04/01/29                      | CUSIP: 74167NAE3<br>LEI: 549300D4W5WVUVR3LC81 | Long             | LON              | CORP              | US        |   1621183 | PA      | $1603528.23   | 0.53%             | 2029-04-01      | Floating      | 7.53%                 | No            |                  2 | On Loan: No      |
| Playa Resorts Holding BV                                                 | Playa Resorts Hl 01/05/29                   | CUSIP: 72812NAJ5<br>LEI: 5493005SPBUMPZZCIZ96 | Long             | LON              | CORP              | NL        |   4053018 | PA      | $4053525.07   | 1.35%             | 2029-01-05      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| Frontier Communications Holdings, LLC                                    | Frontier Comms H 07/01/31                   | CUSIP: 35906EAU4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    598500 | PA      | $596507.00    | 0.20%             | 2031-07-01      | Floating      | 6.79%                 | No            |                  2 | On Loan: No      |
| ARC Falcon I Inc                                                         | Arc Falcon I Inc                            | CUSIP: 03880YAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     14262 | PA      | $13912.94     | 0.00%             | 2028-09-30      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| Safety Products/JHC Acquisition Corp                                     | JSG I 06/28/26                              | CUSIP: 78649EAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    915860 | PA      | $906701.54    | 0.30%             | 2026-06-28      | Floating      | 8.92%                 | No            |                  2 | On Loan: No      |
| Superannuation and Investments US LLC                                    | COLONIAL FIRST ( 10/31/28                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    672849 | PA      | $672849.27    | 0.22%             | 2028-12-01      | Floating      | 8.19%                 | No            |                  2 | On Loan: No      |
| Cornerstone Generation, LLC                                              | CORNERSTONE GENERATION L                    | CUSIP: 21924NAB4<br>LEI: 254900JBGAU2N55LVN75 | Long             | LON              | CORP              | US        |   1620000 | PA      | $1623709.80   | 0.54%             | 2031-10-28      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Lightning Power, LLC                                                     | LIGHTNING PW 08/16/31                       | CUSIP: 53229LAB3<br>LEI: 254900BWCHJ03XRL8K59 | Long             | LON              | CORP              | US        |   1563397 | PA      | $1562177.42   | 0.52%             | 2031-08-18      | Floating      | 6.55%                 | No            |                  2 | On Loan: No      |
| HUNTERSTOWN GENERATION LLC                                               | KESTREL ACQUISIT 10/29/31                   | CUSIP: 44579UAB8<br>LEI: 549300ER0JUHJLPPMH08 | Long             | LON              | CORP              | US        |    611925 | PA      | $613008.11    | 0.20%             | 2031-11-06      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| M6 Etx Holdings Ii Midco LLC                                             | M6 Midstream 03/28/32                       | CUSIP: 55285DAG6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    720000 | PA      | $716850.00    | 0.24%             | 2032-03-25      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| Modena Buyer LLC                                                         | MODENA BUYE 07/01/31                        | CUSIP: 60753DAC8<br>LEI: 254900B0G2IU0VBDOY26 | Long             | LON              | CORP              | US        |    611925 | PA      | $582093.66    | 0.19%             | 2031-07-01      | Floating      | 8.78%                 | No            |                  2 | On Loan: No      |
| Lippert Components Inc                                                   | Lippert CoL 03/19/32                        | CUSIP: 53631HAE8<br>LEI: 549300E1B98YNJ1WIQ04 | Long             | LON              | CORP              | US        |    805000 | PA      | $796950.00    | 0.26%             | 2032-03-19      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| Vestis Corporation                                                       | VESTIS 02/22/31                             | CUSIP: 92550HAE3<br>LEI: 254900QDW0TA2TMFAP59 | Long             | LON              | CORP              | US        |   1626635 | PA      | $1592744.47   | 0.53%             | 2031-02-22      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| MH Sub I LLC                                                             | MH SUB I LLC                                | CUSIP: 45567YAN5<br>LEI: 2549005VFKP807SR8N49 | Long             | LON              | CORP              | US        |    998380 | PA      | $947213.10    | 0.31%             | 2028-05-03      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Magnite Inc                                                              | MAGNIT 02/06/31                             | CUSIP: 55955NAG3<br>LEI: 54930018FR2YX1HHSB02 | Long             | LON              | CORP              | US        |   1422453 | PA      | $1388669.44   | 0.46%             | 2031-02-06      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| Level 3 Financing Inc                                                    | LEVEL 3 FINANCING INC                       | CUSIP: 52729KAT3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | LON              | CORP              | US        |    505000 | PA      | $504684.38    | 0.17%             | 2032-03-27      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| Domtar Corporation                                                       | DOMTAR 10/01/28                             | CUSIP: 25755FAK6<br>LEI: XYSIJOU3HNVROZWNA008 | Long             | LON              | CORP              | US        |    611013 | PA      | $559458.70    | 0.19%             | 2028-11-30      | Floating      | 9.94%                 | No            |                  2 | On Loan: No      |
| American Public Education, Inc.                                          | AMERICAN PUBLIC 10/28/27                    | CUSIP: 02914BAC0<br>LEI: 254900GZNX6TJQGM4S17 | Long             | LON              | CORP              | US        |    720000 | PA      | $714150.00    | 0.24%             | 2027-09-01      | Floating      | 9.94%                 | No            |                  2 | On Loan: No      |
| EMRLD Borrower LP                                                        | EMRLD BORROW 06/18/31                       | CUSIP: 26872NAD1<br>LEI: 5493000GJYE7GAQCUC61 | Long             | LON              | CORP              | US        |    562175 | PA      | $556438.00    | 0.18%             | 2031-08-04      | Floating      | 6.80%                 | No            |                  2 | On Loan: No      |
| M2S Group Intermediate Holdings, Inc.                                    | M2S GROUP HLDG 08/22/31                     | CUSIP: 55287CAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    882471 | PA      | $844966.23    | 0.28%             | 2031-08-25      | Floating      | 9.03%                 | No            |                  2 | On Loan: No      |
| UKG Inc                                                                  | UKG INC                                     | CUSIP: 89841EAB1<br>LEI: 529900FKHWSTQ1GXK240 | Long             | LON              | CORP              | US        |    109724 | PA      | $109474.55    | 0.04%             | 2031-02-10      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| Team Health Holdings, Inc.                                               | TEAM HEALTH 03/02/27                        | CUSIP: 87817JAG3<br>LEI: 549300PVTQ4UDTTMQT11 | Long             | LON              | CORP              | US        |   1585538 | PA      | $1547295.05   | 0.51%             | 2027-03-02      | Floating      | 9.53%                 | No            |                  2 | On Loan: No      |
| Goat Holdco LLC                                                          | GOAT HOLDC 12/10/31                         | CUSIP: 38021CAC2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    880000 | PA      | $868340.00    | 0.29%             | 2032-01-27      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| Radiate Holdco LLC                                                       | RADIATE HOLDCO ( 09/25/26                   | CUSIP: 75025KAH1<br>LEI: 5493000GQJ5RDX9DNJ71 | Long             | LON              | CORP              | US        |    531035 | PA      | $468195.35    | 0.16%             | 2026-09-25      | Floating      | 7.69%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                                 | LUMEN TECHNOLOGI 06/01/28                   | CUSIP: 55024EAD7<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |   1250000 | PA      | $1248700.00   | 0.41%             | 2028-06-01      | Floating      | 10.32%                | No            |                  2 | On Loan: No      |
| Ahead DB Holdings LLC                                                    | AHEAD DB HLDG 02/01/31                      | CUSIP: 00866HAH8<br>LEI: 254900L07WFL833JX193 | Long             | LON              | CORP              | US        |   1485028 | PA      | $1477372.80   | 0.49%             | 2031-02-01      | Floating      | 7.30%                 | No            |                  2 | On Loan: No      |
| SAVOR ACQUISITION INC                                                    | SAVOR ACQUISITIO 02/17/32                   | CUSIP: 80536AAC6<br>LEI: 25490051R6ZOBEBPQ519 | Long             | LON              | CORP              | US        |     68534 | PA      | $68373.78     | 0.02%             | 2032-02-19      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Digital Media Solutions LLC                                              | DIGITAL MEDIA SO 12/10/24                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     98985 | PA      | $98985.32     | 0.03%             | 2026-05-25      | Floating      | 6.32%                 | No            |                  3 | On Loan: No      |
| Allegro Microsystems Inc                                                 | ALLEGRO MICROSYSTEMS INC                    | CUSIP: 01748YAG5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1715000 | PA      | $1706425.00   | 0.57%             | 2030-10-31      | Floating      | 6.32%                 | No            |                  3 | On Loan: No      |
| A-Ag Us Gsi Bidco, Inc.                                                  | AAG US GSI BIDC 10/08/31                    | CUSIP: 00033RAB7<br>LEI: 25490004WTN5CN5TXD48 | Long             | LON              | CORP              | US        |   1140000 | PA      | $1134300.00   | 0.38%             | 2031-10-31      | Floating      | 9.30%                 | No            |                  2 | On Loan: No      |
| Thunder Generation Funding LLC                                           | THUNDER GENERATI 09/27/31                   | CUSIP: 88604KAB6<br>LEI: 254900JBXSZJDYE69921 | Long             | LON              | CORP              | US        |    595964 | PA      | $596336.12    | 0.20%             | 2031-10-03      | Floating      | 7.30%                 | No            |                  2 | On Loan: No      |
| SAVOR ACQUISITION INC                                                    | SAVOR ACQUISITIO 02/04/32                   | CUSIP: 80536AAB8<br>LEI: 25490051R6ZOBEBPQ519 | Long             | LON              | CORP              | US        |    726466 | PA      | $724761.95    | 0.24%             | 2032-02-04      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| Priority Holdings LLC                                                    | PRIORITY HOLDING 05/16/31                   | CUSIP: 74275TAF6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1547072 | PA      | $1547072.10   | 0.51%             | 2031-05-16      | Floating      | 9.07%                 | No            |                  2 | On Loan: No      |
| EOC Borrower LLC                                                         | ENDEAVOR GROUP H 01/27/32                   | CUSIP: 26875YAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1415000 | PA      | $1401437.23   | 0.47%             | 2032-03-24      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| LifePoint Health Inc                                                     | LIFEPOINT H 05/16/31                        | CUSIP: 75915TAK8<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |   1987238 | PA      | $1953703.05   | 0.65%             | 2031-05-16      | Floating      | 8.01%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                                              | ASURION 08/19/28                            | CUSIP: 04649VBC3<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |   2176365 | PA      | $2115350.34   | 0.70%             | 2028-08-21      | Floating      | 8.67%                 | No            |                  2 | On Loan: No      |
| Catawba Nation Gaming Authority                                          | Catawba Nation G 12/16/31                   | CUSIP: 14907EAD6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1035000 | PA      | $1030689.23   | 0.34%             | 2032-03-28      | Floating      | 9.05%                 | No            |                  2 | On Loan: No      |
| Amentum Holdings LLC                                                     | Amazon Holdc 07/30/31                       | CUSIP: 02351XAB4<br>LEI: 2549009FJIBLW40CU216 | Long             | LON              | CORP              | US        |   1062338 | PA      | $1051220.14   | 0.35%             | 2031-09-29      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc                                      | CLYDESDALE ACQUI 03/27/32                   | CUSIP: 18972FAF9<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |     15464 | PA      | $15357.68     | 0.01%             | 2032-04-01      | Floating      | 7.48%                 | No            |                  2 | On Loan: No      |
| Medline Borrower LP                                                      | MEDLINE INDUS 10/23/28                      | CUSIP: 58503UAF0<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |    778045 | PA      | $773707.52    | 0.26%             | 2028-10-23      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| Lsf12 Crown Us Commercial Bidco, LLC                                     | LSF12 CROWN US C 12/02/31                   | CUSIP: 50221UAC5<br>LEI: 254900FI2OCFTJ9PAJ18 | Long             | LON              | CORP              | US        |   1080000 | PA      | $1042200.00   | 0.35%             | 2031-12-02      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| Telenet Financing USD LLC                                                | Telenet 04/30/28                            | CUSIP: 000000000<br>LEI: 213800BMPOX34U6DWN81 | Long             | LON              | CORP              | US        |   1000000 | PA      | $979375.00    | 0.33%             | 2028-04-30      | Floating      | 6.44%                 | No            |                  2 | On Loan: No      |
| Cogeco Communications Finance (USA) LP                                   | ATLANTIC BROADBA 09/15/30                   | CUSIP: 19239BAD0<br>LEI: 549300UVJTPYOZ6XKH79 | Long             | LON              | CORP              | US        |   1485000 | PA      | $1460868.75   | 0.49%             | 2030-09-18      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| Varsity Brands, Inc.                                                     | Varsity Brand 08/26/31                      | CUSIP: 92227QAF3<br>LEI: 254900PLBJA0I5NSTT38 | Long             | LON              | CORP              | US        |   1000000 | PA      | $985315.00    | 0.33%             | 2031-08-26      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| Spa Holdings 3 Oy                                                        | Spa US HoldCo Inc                           | CUSIP: 000000000<br>LEI: 254900HXD0I72WZYIT06 | Long             | LON              | CORP              | US        |   1246875 | PA      | $1237523.41   | 0.41%             | 2028-02-04      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Restoration Hardware, Inc.                                               | PLASTIPAK TLB 10/20/28                      | CUSIP: 76133MAC5<br>LEI: 549300H9H1H3OC7C3H47 | Long             | LON              | CORP              | US        |    523619 | PA      | $492202.04    | 0.16%             | 2028-10-20      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| Schweitzer-Mauduit International Inc                                     | MATIV HOLDINGS, 04/20/28                    | CUSIP: 80854EAH1<br>LEI: 549300Z1FU4IDULG1R21 | Long             | LON              | CORP              | US        |    762389 | PA      | $758576.87    | 0.25%             | 2028-04-20      | Floating      | 8.19%                 | No            |                  2 | On Loan: No      |
| CWGS Group LLC                                                           | CWGS 05/24/28                               | CUSIP: 12670UAE7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     52688 | PA      | $50233.61     | 0.02%             | 2028-06-03      | Floating      | 6.94%                 | No            |                  2 | On Loan: No      |
| ARC Falcon I Inc                                                         | ARC FALCON 09/30/28                         | CUSIP: 03880YAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    991050 | PA      | $966774.64    | 0.32%             | 2028-09-30      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| Quirch Foods Holdings LLC                                                | QUIRCH 10/27/27                             | CUSIP: 74880TAG1<br>LEI: 549300ZJJLQXSE7L4U02 | Long             | LON              | CORP              | US        |   1597569 | PA      | $1509303.37   | 0.50%             | 2027-10-27      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| TripAdvisor Inc                                                          | TripAdviso 07/01/31                         | CUSIP: 89677NAE4<br>LEI: 549300XVG45PT5BART17 | Long             | LON              | CORP              | US        |   1379883 | PA      | $1348835.59   | 0.45%             | 2031-07-08      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| Zacapa Sarl                                                              | Zacapa 03/22/29                             | CUSIP: 000000000<br>LEI: 213800VIVQIJLORBU468 | Long             | LON              | CORP              | LU        |   2549260 | PA      | $2542886.70   | 0.84%             | 2029-03-22      | Floating      | 8.05%                 | No            |                  2 | On Loan: No      |
| LifePoint Health Inc                                                     | LIFEPOINT HEALTH INC                        | CUSIP: 75915TAK8<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |    500000 | PA      | $491562.50    | 0.16%             | 2031-05-16      | Floating      | 8.01%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc                                                           | Sabre GLB 06/30/28                          | CUSIP: 78571YBH2<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |    250000 | PA      | $235937.50    | 0.08%             | 2028-06-30      | Floating      | 8.67%                 | No            |                  2 | On Loan: No      |
| Manchester Acquisition Sub LLC                                           | DRASLOVKA (MANCH 11/16/26                   | CUSIP: 000000000<br>LEI: 254900LBVLLF5B4PFE37 | Long             | LON              | CORP              | US        |    755389 | PA      | $706289.01    | 0.23%             | 2026-12-01      | Floating      | 10.22%                | No            |                  2 | On Loan: No      |
| Foley Products Company, LLC                                              | FOLEY PRODUCTS C 12/29/28                   | CUSIP: 34430DAC4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    465832 | PA      | $467772.64    | 0.16%             | 2029-12-31      | Floating      | 9.20%                 | No            |                  2 | On Loan: No      |
| Trinseo Materials Operating SCA                                          | TRINSEO 05/03/2028                          | CUSIP: 000000000<br>LEI: 549300WNMXD3KV7LO256 | Long             | LON              | CORP              | LU        |    405678 | PA      | $173871.45    | 0.06%             | 2028-05-03      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| Crown Equipment Corporation                                              | CROWN EQUIP 10/10/31                        | CUSIP: 22834HAK4<br>LEI: V22E9B3P7BX1W5NNT053 | Long             | LON              | CORP              | US        |    893925 | PA      | $890572.78    | 0.30%             | 2031-10-10      | Floating      | 6.54%                 | No            |                  2 | On Loan: No      |
| Trinseo Materials Operating SCA                                          | TRINSEO 05/03/2028                          | CUSIP: 000000000<br>LEI: 549300WNMXD3KV7LO256 | Long             | LON              | CORP              | LU        |     86650 | PA      | $37137.60     | 0.01%             | 2028-05-03      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| WH Borrower LLC                                                          | WH BORROWER LLC                             | CUSIP: 000000000<br>LEI: 2549009H920CQUE3R944 | Long             | LON              | CORP              | US        |    270000 | PA      | $260212.50    | 0.09%             | 2032-02-12      | Floating      | 9.07%                 | No            |                  2 | On Loan: No      |
| New Fortress Energy Inc.                                                 | New Fortress Ene 10/30/28                   | CUSIP: 64439HAC3<br>LEI: 254900EICTYTCHA5X705 | Long             | LON              | CORP              | US        |   2480000 | PA      | $1802650.00   | 0.60%             | 2028-10-27      | Floating      | 9.79%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                                     | Charter Comms Op 11/21/31                   | CUSIP: 16117LCE7<br>LEI: 549300TPZNMN50BJ3745 | Long             | LON              | CORP              | US        |      5525 | PA      | $5512.24      | 0.00%             | 2031-12-15      | Floating      | 6.55%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                                     | Charter Comms Op 11/21/31                   | CUSIP: 16117LCE7<br>LEI: 549300TPZNMN50BJ3745 | Long             | LON              | CORP              | US        |   2198950 | PA      | $2193870.43   | 0.73%             | 2031-12-15      | Floating      | 6.55%                 | No            |                  2 | On Loan: No      |
| CWGS Group LLC                                                           | CWGS Group LLC                              | CUSIP: 12670UAE7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    725859 | PA      | $692044.46    | 0.23%             | 2028-06-03      | Floating      | 6.94%                 | No            |                  2 | On Loan: No      |
| Virgin Media Bristol LLC                                                 | VIRGIN MEDIA BRI 02/27/31                   | CUSIP: 000000000<br>LEI: 213800IQ982XX69LE276 | Long             | LON              | CORP              | US        |   1400000 | PA      | $1363565.00   | 0.45%             | 2031-03-31      | Floating      | 7.37%                 | No            |                  2 | On Loan: No      |
| DirectV Financing LLC                                                    | DIRECTV FIN 02/15/31                        | CUSIP: 25460HAF9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    194000 | PA      | $180715.85    | 0.06%             | 2031-02-17      | Floating      | 9.82%                 | No            |                  2 | On Loan: No      |
| Zacapa Sarl                                                              | ZACAPA 03/22/29                             | CUSIP: 000000000<br>LEI: 213800VIVQIJLORBU468 | Long             | LON              | CORP              | LU        |   1500000 | PA      | $1496250.00   | 0.50%             | 2029-03-22      | Floating      | 8.05%                 | No            |                  2 | On Loan: No      |
| Hudson River Trading LLC                                                 | HUDSON RIV TRADI 03/29/30                   | CUSIP: 44413EAJ7<br>LEI: 549300SMOBUC8O5UOE10 | Long             | LON              | CORP              | US        |   1521839 | PA      | $1521701.82   | 0.51%             | 2030-03-18      | Floating      | 7.29%                 | No            |                  2 | On Loan: No      |
| Bakelite US Holdco Inc                                                   | BAKELITE US HOLD 12/16/31                   | CUSIP: 05710LAD5<br>LEI: 549300UCYL2XSFT5Y041 | Long             | LON              | CORP              | US        |   1760588 | PA      | $1672558.13   | 0.56%             | 2031-12-23      | Floating      | 8.05%                 | No            |                  2 | On Loan: No      |
| Cloud Software Group Inc                                                 | CLOUD SOFTWARE G 03/21/31                   | CUSIP: 88632NBE9<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |      3725 | PA      | $3687.75      | 0.00%             | 2031-03-24      | Floating      | 8.05%                 | No            |                  2 | On Loan: No      |
| Cloud Software Group Inc                                                 | CLOUD SOFTWARE G 03/21/31                   | CUSIP: 88632NBE9<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |   1482550 | PA      | $1467724.50   | 0.49%             | 2031-03-24      | Floating      | 8.05%                 | No            |                  2 | On Loan: No      |
| HAH Group Holding Company LLC                                            | HAH GROUP HLDG C 09/24/31                   | CUSIP: 40467AAN9<br>LEI: 254900FFJQHW9R90FL74 | Long             | LON              | CORP              | US        |    676300 | PA      | $656224.03    | 0.22%             | 2031-09-17      | Floating      | 9.32%                 | No            |                  2 | On Loan: No      |
| Osaic Holdings Inc (f/k/a Advisor Group Holdings Inc)                    | OSAIC HLDG 08/17/28                         | CUSIP: 00775KAK4<br>LEI: 549300XL60BDV6UW5C86 | Long             | LON              | CORP              | US        |   2260453 | PA      | $2254689.28   | 0.75%             | 2028-08-17      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| DRW Holdings LLC                                                         | DRW HLDG 06/17/31                           | CUSIP: 23343HAE0<br>LEI: 549300W696CUHX8SLK40 | Long             | LON              | CORP              | US        |   1985000 | PA      | $1985416.85   | 0.66%             | 2031-06-26      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| Lsf11 Trinity Bidco, Inc.                                                | LSF11 TRINITY BI 06/14/30                   | CUSIP: 50221BAF0<br>LEI: 2549000M6VOEWVW5JU51 | Long             | LON              | CORP              | US        |   1516068 | PA      | $1506593.01   | 0.50%             | 2030-06-14      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| Venga Finance SARL                                                       | Venga Fin 06/28/29                          | CUSIP: 000000000<br>LEI: 9845005B0E54C498F641 | Long             | LON              | CORP              | LU        |   1969487 | PA      | $1968255.99   | 0.65%             | 2029-06-28      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                                 | LUMEN TEC 04/15/30                          | CUSIP: 55024EAG0<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |    543534 | PA      | $519376.87    | 0.17%             | 2030-04-15      | Floating      | 6.79%                 | No            |                  2 | On Loan: No      |
| Oravel Stays Private Limited                                             | ORAVEL STAYS SINGAPORE                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | SG        |    275000 | PA      | $271562.50    | 0.09%             | 2029-12-20      | Floating      | 12.30%                | No            |                  2 | On Loan: No      |
| AL NGPL Holdings LLC                                                     | AL NGPL HLDG 04/17/28                       | CUSIP: 01021AAB6<br>LEI: 254900WKSN3ZUJ0TO315 | Long             | LON              | CORP              | US        |   1381580 | PA      | $1379859.67   | 0.46%             | 2028-04-13      | Floating      | 6.78%                 | No            |                  2 | On Loan: No      |
| Crown Subsea Communications Holding Inc                                  | Crown Subsea Com 01/30/31                   | CUSIP: 22860EAJ1<br>LEI: 5493003AYLUE132FIO27 | Long             | LON              | CORP              | US        |    893250 | PA      | $894589.88    | 0.30%             | 2031-01-30      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| Aretec Group Inc                                                         | ARETEC GROU 08/09/30                        | CUSIP: 04009DAH7<br>LEI: 549300NV2T8A33L0PQ58 | Long             | LON              | CORP              | US        |   2700051 | PA      | $2689318.10   | 0.89%             | 2030-08-09      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| Oxbow Carbon LLC                                                         | OXBOW CARBO 05/10/30                        | CUSIP: 69138EBE8<br>LEI: IH5EFCAY91O8SVS0VX92 | Long             | LON              | CORP              | US        |    844429 | PA      | $833873.91    | 0.28%             | 2030-05-10      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| Oxbow Carbon LLC                                                         | OXBOW CARBO 05/10/30                        | CUSIP: 69138EBE8<br>LEI: IH5EFCAY91O8SVS0VX92 | Long             | LON              | CORP              | US        |    986767 | PA      | $974432.25    | 0.32%             | 2030-05-10      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| St. Georges University Scholastic Services LLC                           | Univ Support Ser 02/10/29                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     43707 | PA      | $43280.72     | 0.01%             | 2029-02-10      | Floating      | 7.06%                 | No            |                  2 | On Loan: No      |
| St. Georges University Scholastic Services LLC                           | Univ Support Ser 02/10/29                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    174827 | PA      | $173122.89    | 0.06%             | 2029-02-10      | Floating      | 7.06%                 | No            |                  2 | On Loan: No      |
| Epic Crude Services LP                                                   | EPIC CRUDE SERVI 10/10/31                   | CUSIP: 29428XAG5<br>LEI: 549300FRS682IQ7J9S42 | Long             | LON              | CORP              | US        |    997500 | PA      | $997679.55    | 0.33%             | 2031-10-15      | Floating      | 7.26%                 | No            |                  2 | On Loan: No      |
| ABG Intermediate Holdings 2 LLC                                          | ABG INTER HLDGS 12/21/28                    | CUSIP: 00076VBL3<br>LEI: 54930020NXD0RJB64985 | Long             | LON              | CORP              | US        |   1654915 | PA      | $1627302.42   | 0.54%             | 2028-12-21      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| St. Georges University Scholastic Services LLC                           | Univ Support Ser 02/10/29                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1273560 | PA      | $1261142.83   | 0.42%             | 2029-02-10      | Floating      | 7.06%                 | No            |                  2 | On Loan: No      |
| MKS Instruments Inc                                                      | MKS Instr 08/17/29                          | CUSIP: 55314NAZ7<br>LEI: 549300KEQATBHAGVF505 | Long             | LON              | CORP              | US        |   1666201 | PA      | $1658286.40   | 0.55%             | 2029-08-17      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| AP Core Holdings II LLC                                                  | YAHOO (VERIZON M 09/01/27                   | CUSIP: 00187GAD1<br>LEI: 549300PND8ZZ4RWYRZ56 | Long             | LON              | CORP              | US        |   1590000 | PA      | $1427025.00   | 0.47%             | 2027-09-01      | Floating      | 9.94%                 | No            |                  2 | On Loan: No      |
| Clarios Global LP                                                        | Clarios Gl 01/14/32                         | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |    630000 | PA      | $618713.55    | 0.21%             | 2032-01-28      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| Perforce Software Inc                                                    | PERFORCE SOFTWAR 07/02/29                   | CUSIP: 71376GAK7<br>LEI: 549300322GBMUSL1VG17 | Long             | LON              | CORP              | US        |    497444 | PA      | $472074.71    | 0.16%             | 2029-07-02      | Floating      | 9.07%                 | No            |                  2 | On Loan: No      |
| FleetCor Technologies Operating Company LLC                              | CORPAY TECH OPER 04/28/28                   | CUSIP: 33903RAZ2<br>LEI: 549300FKKKZCXLK48427 | Long             | LON              | CORP              | US        |    885556 | PA      | $883970.42    | 0.29%             | 2028-04-28      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Dynasty Acquisition Co Inc                                               | DYNASTY ACQUISIT 10/31/31                   | CUSIP: 26812CAN6<br>LEI: 549300L1RCRPOAUCB870 | Long             | LON              | CORP              | US        |    747926 | PA      | $744791.70    | 0.25%             | 2031-10-31      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| Talen Energy Supply LLC                                                  | Talen Energy Sup 05/17/30                   | CUSIP: 87422LAV2<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | LON              | CORP              | US        |    271357 | PA      | $271017.92    | 0.09%             | 2030-05-17      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| NRG Energy Inc.                                                          | NRG Energ 04/16/31                          | CUSIP: 62937NBC0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | LON              | CORP              | US        |      4013 | PA      | $4010.05      | 0.00%             | 2031-04-16      | Floating      | 6.05%                 | No            |                  2 | On Loan: No      |
| NRG Energy Inc.                                                          | NRG Energ 04/16/31                          | CUSIP: 62937NBC0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | LON              | CORP              | US        |   1584962 | PA      | $1583971.72   | 0.53%             | 2031-04-16      | Floating      | 6.05%                 | No            |                  2 | On Loan: No      |
| Churchill Middle Market CLO Lt                                           | Churchill Middle Market CLO V LLC           | CUSIP: 17151TAJ6<br>LEI: 254900BT15WLD40RHS41 | Long             | ABS-CBDO         | CORP              | US        |    500000 | PA      | $484275.50    | 0.16%             | 2037-04-25      | Floating      | 7.62%                 | No            |                  2 | On Loan: No      |
| Waterbridge NDB Operating LLC(f/k/a Waterbridge Midstream Operating LLC) | WATERBRIDGE NDB OPERATIN                    | CUSIP: 94120YAD5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1000000 | PA      | $986355.00    | 0.33%             | 2029-05-10      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Blackstone Mortgage Trust Inc                                            | Blackstone Mtg T 04/23/30                   | CUSIP: 09259GAG8<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | LON              | CORP              | US        |    768075 | PA      | $769035.09    | 0.26%             | 2028-12-10      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| First Eagle Holdings Inc                                                 | FIRST EAGLE INVE 02/14/29                   | CUSIP: 05554JAJ6<br>LEI: 549300ZKYR56QRODD510 | Long             | LON              | CORP              | US        |    742500 | PA      | $741519.90    | 0.25%             | 2029-03-05      | Floating      | 7.30%                 | No            |                  2 | On Loan: No      |
| Dynasty Acquisition Co Inc                                               | DYNASTY ACQUISIT 10/31/31                   | CUSIP: 26812CAP1<br>LEI: 549300L1RCRPOAUCB870 | Long             | LON              | CORP              | US        |    284487 | PA      | $283294.99    | 0.09%             | 2031-10-31      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| Peraton Corp                                                             | PERATON 02/01/28                            | CUSIP: 71360HAB3<br>LEI: 549300EQPCK07ZW63836 | Long             | LON              | CORP              | US        |   1330127 | PA      | $1203525.80   | 0.40%             | 2028-02-01      | Floating      | 8.17%                 | No            |                  2 | On Loan: No      |
| Lackawanna Energy Center LLC                                             | LACKAWANNA ENERG 08/06/29                   | CUSIP: 000000000<br>LEI: 549300IW2LJBNY42EC59 | Long             | LON              | CORP              | US        |    138695 | PA      | $139735.10    | 0.05%             | 2029-08-06      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| Digital Media Solutions LLC                                              | DIGITAL MEDIA SO 02/25/26                   | CUSIP: 25401HAE4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     84289 | PA      | $84289.31     | 0.03%             | 2026-02-25      | Floating      | 5.61%                 | No            |                  3 | On Loan: No      |
| Life Time Inc (f/k/a Life Time Fitness Inc)                              | Life Tim 10/22/31                           | CUSIP: 50218KAM0<br>LEI: 549300PALKE96VYH4X17 | Long             | LON              | CORP              | US        |      2500 | PA      | $2488.44      | 0.00%             | 2031-11-05      | Floating      | 6.78%                 | No            |                  2 | On Loan: No      |
| Life Time Inc (f/k/a Life Time Fitness Inc)                              | Life Tim 10/22/31                           | CUSIP: 50218KAM0<br>LEI: 549300PALKE96VYH4X17 | Long             | LON              | CORP              | US        |    995000 | PA      | $990398.13    | 0.33%             | 2031-11-05      | Floating      | 6.78%                 | No            |                  2 | On Loan: No      |
| Rand Parent LLC                                                          | RAND PAREN 03/18/30                         | CUSIP: 75223LAD8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1568662 | PA      | $1457875.50   | 0.48%             | 2030-03-18      | Floating      | 7.30%                 | No            |                  2 | On Loan: No      |
| Go Daddy Operating Company, LLC                                          | Go Daddy Oper C 05/21/31                    | CUSIP: 38017BAW6<br>LEI: 5493005GJOH8HLL11157 | Long             | LON              | CORP              | US        |    992500 | PA      | $989348.81    | 0.33%             | 2031-05-30      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| FNZ Group Entities Limited                                               | FNZ GROUP ENTITI 11/05/31                   | CUSIP: 30339HAD3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1000000 | PA      | $835000.00    | 0.28%             | 2031-11-05      | Floating      | 9.29%                 | No            |                  2 | On Loan: No      |
| ARC Falcon I Inc                                                         | ARC FALCON 09/30/29                         | CUSIP: 03880YAF1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1380000 | PA      | $1311000.00   | 0.44%             | 2029-09-30      | Floating      | 11.42%                | No            |                  2 | On Loan: No      |
| Hexion Holdings Corporation                                              | HEXION HLDGS 03/15/29                       | CUSIP: 00217XAE6<br>LEI: 549300LBB370MUHGLV84 | Long             | LON              | CORP              | US        |   2208808 | PA      | $2155951.39   | 0.72%             | 2029-03-15      | Floating      | 8.33%                 | No            |                  2 | On Loan: No      |
| Sunrise HoldCo III BV (f/k/a UPC Broadband Holding BV)                   | SUNRISE FING PAR 01/31/32                   | CUSIP: 000000000<br>LEI: 213800DXWIS9KORQ3X94 | Long             | LON              | CORP              | US        |   1108398 | PA      | $1104241.10   | 0.37%             | 2032-02-15      | Floating      | 6.79%                 | No            |                  2 | On Loan: No      |
| Ultra Clean Holdings Inc                                                 | Ultra Clean Hldg 02/28/28                   | CUSIP: 90385YAF8<br>LEI: 5493007L6LS7QX18PE75 | Long             | LON              | CORP              | US        |    967173 | PA      | $965664.70    | 0.32%             | 2028-02-28      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| DirectV Financing LLC                                                    | DIRECTV FIN 08/02/29                        | CUSIP: 25460HAD4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    975275 | PA      | $946387.09    | 0.31%             | 2029-08-02      | Floating      | 9.79%                 | No            |                  2 | On Loan: No      |
| Blackhawk Network Holdings Inc.                                          | Blackhawk Networ 03/12/29                   | CUSIP: 09238FAM3<br>LEI: 549300LFU3K8UIR03132 | Long             | LON              | CORP              | US        |    813860 | PA      | $814307.87    | 0.27%             | 2029-03-12      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| KREF Holdings X LLC                                                      | KREF HOLDI 02/25/32                         | CUSIP: 48266YAE3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1000000 | PA      | $993755.00    | 0.33%             | 2032-02-25      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| UKG Inc                                                                  | UK 02/10/31                                 | CUSIP: 89841EAB1<br>LEI: 529900FKHWSTQ1GXK240 | Long             | LON              | CORP              | US        |   1528650 | PA      | $1525179.47   | 0.51%             | 2031-02-10      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| Thryv Inc                                                                | Thry 05/01/29                               | CUSIP: 88602GAF8<br>LEI: 254900W0Q0EQ1QHCLN20 | Long             | LON              | CORP              | US        |    105000 | PA      | $105525.00    | 0.04%             | 2029-05-01      | Floating      | 11.07%                | No            |                  2 | On Loan: No      |
| Lc Ahab Us Bidco LLC                                                     | LC AHAB US BIDC 05/01/31                    | CUSIP: 50180PAB7<br>LEI: 254900949U9K2Q5C5A85 | Long             | LON              | CORP              | US        |    997494 | PA      | $972556.39    | 0.32%             | 2031-05-01      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| Connect US Finco LLC                                                     | CONNECT FINCO SARL                          | CUSIP: 000000000<br>LEI: 2594001KNYIQ456J2792 | Long             | LON              | CORP              | LU        |    870000 | PA      | $784091.85    | 0.26%             | 2029-09-27      | Floating      | 8.82%                 | No            |                  2 | On Loan: No      |
| EMERGENT BIOSOLUTIONS                                                    | Emergent BioSolutions Inc                   | CUSIP: 29089QAC9<br>LEI: 549300YW6TUOX8BE5103 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1289811.80   | 0.43%             | 2028-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Alpha Generation LLC                                                     | ALPHA GENERATIO 09/19/31                    | CUSIP: 02072UAC6<br>LEI: 254900K5V62L4YGVKF49 | Long             | LON              | CORP              | US        |    701475 | PA      | $702414.98    | 0.23%             | 2031-09-30      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| Neon Maple Purchaser Inc                                                 | PPI HLDG U 11/15/31                         | CUSIP: 69425BAB3<br>LEI: 254900L3D6CI0XH2P605 | Long             | LON              | CORP              | US        |   1123049 | PA      | $1117253.90   | 0.37%             | 2031-11-17      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| Tidal Waste & Recycling Holdings LLC                                     | TIDAL WASTE RECY 10/03/31                   | CUSIP: 88636PAK7<br>LEI: 254900IQT82RE5KFAZ50 | Long             | LON              | CORP              | US        |    900000 | PA      | $902623.50    | 0.30%             | 2031-10-24      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| Scientific Games International, Inc.                                     | LIGHT WONDER INT 04/14/29                   | CUSIP: 80875AAW1<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | LON              | CORP              | US        |    497500 | PA      | $497708.95    | 0.17%             | 2029-04-14      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| Neon Maple Purchaser Inc                                                 | PPI HLDG U 11/15/31                         | CUSIP: 69425BAB3<br>LEI: 254900L3D6CI0XH2P605 | Long             | LON              | CORP              | US        |    402799 | PA      | $400720.83    | 0.13%             | 2031-11-17      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| Neon Maple Purchaser Inc                                                 | PPI HLDG U 11/15/31                         | CUSIP: 69425BAB3<br>LEI: 254900L3D6CI0XH2P605 | Long             | LON              | CORP              | US        |    104152 | PA      | $103614.47    | 0.03%             | 2031-11-17      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| Allegro Microsystems Inc                                                 | ALLEGRO MICROSYS 10/31/30                   | CUSIP: 01748YAG5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    530438 | PA      | $527785.31    | 0.18%             | 2030-10-31      | Floating      | 6.32%                 | No            |                  3 | On Loan: No      |
| Team Services Group LLC                                                  | TEAM SERVICES GR 12/20/27                   | CUSIP: 87821EAG8<br>LEI: 2549000UQACQVCO13Y82 | Long             | LON              | CORP              | US        |    483788 | PA      | $470485.76    | 0.16%             | 2027-12-20      | Floating      | 9.53%                 | No            |                  2 | On Loan: No      |
| Clue Opco LLC                                                            | FORWARD AIR (CLU 09/20/30                   | CUSIP: 18948EAC0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    793822 | PA      | $719579.99    | 0.24%             | 2030-12-19      | Floating      | 8.79%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc                                                           | SABRE GLBL INC                              | CUSIP: 78571YBF6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |    414679 | PA      | $396279.48    | 0.13%             | 2027-12-17      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| UGI Energy Services LLC                                                  | UGI Energy Servi 02/22/30                   | CUSIP: 90276DAE9<br>LEI: 5493001O7RUKEUP5XR11 | Long             | LON              | CORP              | US        |    494937 | PA      | $495431.66    | 0.16%             | 2030-02-22      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| Lackawanna Energy Center LLC                                             | LACKAWANNA ENERG 08/06/29                   | CUSIP: 000000000<br>LEI: 549300IW2LJBNY42EC59 | Long             | LON              | CORP              | US        |    631485 | PA      | $636220.75    | 0.21%             | 2029-08-06      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| Zoominfo LLC                                                             | ZOOMINF 02/28/30                            | CUSIP: 25471YAN2<br>LEI: 549300XF0FRWD2286I33 | Long             | LON              | CORP              | US        |    994975 | PA      | $974249.55    | 0.32%             | 2030-02-28      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| Neptune Husky US Bidco LLC                                               | HEUBACH (CLARIAN 01/03/29                   | CUSIP: 000000000<br>LEI: 254900EYK4430ZH92J61 | Long             | LON              | CORP              | LU        |    862908 | PA      | $29934.27     | 0.01%             | 2029-01-03      | Floating      | 9.38%                 | No            |                  2 | On Loan: No      |
| Red Planet Borrower LLC                                                  | LIFTOFF MOBILE 09/23/28                     | CUSIP: 57165KAB2<br>LEI: 254900LGTHBRY5NA0C90 | Long             | LON              | CORP              | US        |   1885615 | PA      | $1850259.29   | 0.61%             | 2028-10-02      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| Dayforce Inc                                                             | DAYFORC 03/01/31                            | CUSIP: 23958CAD9<br>LEI: 549300T64GVCHFJ8L449 | Long             | LON              | CORP              | US        |    873411 | PA      | $874502.76    | 0.29%             | 2031-02-26      | Floating      | 6.28%                 | No            |                  2 | On Loan: No      |
| Ineos Styrolution US Holding LLC                                         | INEOS Styrolutio 01/29/27                   | CUSIP: 45673NAE0<br>LEI: 529900Z6N7K4QRHSOT95 | Long             | LON              | CORP              | US        |   1942167 | PA      | $1825637.06   | 0.61%             | 2027-01-29      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| Mister Car Wash Holdings Inc                                             | MISTER CAR WASH 03/27/31                    | CUSIP: 60646CAK3<br>LEI: 549300BARUQU0U2GQE05 | Long             | LON              | CORP              | US        |    315400 | PA      | $313676.53    | 0.10%             | 2031-03-21      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| MOUNTAIN VIEW CLO                                                        | Mountain View CLO XVI Ltd                   | CUSIP: 62432TAE4<br>LEI: 549300MWKXOHYV7Z8O91 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $997915.00    | 0.33%             | 2034-04-15      | Floating      | 11.59%                | No            |                  2 | On Loan: No      |
| Sitel Group                                                              | SITEL GROUP 07/27/28                        | CUSIP: 82981MAC6<br>LEI: 5493007DS8CM3ZGION43 | Long             | LON              | CORP              | US        |    493606 | PA      | $279785.84    | 0.09%             | 2028-08-28      | Floating      | 8.18%                 | No            |                  2 | On Loan: No      |
| Verde Purchaser, LLC                                                     | VERDE PURC 11/30/30                         | CUSIP: 92338TAB2<br>LEI: 5493004G8OK5L1UTIY12 | Long             | LON              | CORP              | US        |   1478797 | PA      | $1469214.39   | 0.49%             | 2030-11-30      | Floating      | 8.30%                 | No            |                  2 | On Loan: No      |
| LCPR SR SECURED FIN DAC                                                  | LCPR Senior Secured Financing DAC           | CUSIP: 50201DAA1<br>LEI: 549300LE5FM8IKMXSP90 | Long             | DBT              | CORP              | IE        |   1000000 | PA      | $822991.30    | 0.27%             | 2027-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Fitness International LLC                                                | FITNESS INTERNAT 01/30/29                   | CUSIP: 33818XAM2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    246902 | PA      | $247134.09    | 0.08%             | 2029-02-12      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| Connect US Finco LLC                                                     | PLASTIPAK TLB 04/30/24                      | CUSIP: 000000000<br>LEI: 2594001KNYIQ456J2792 | Long             | LON              | CORP              | LU        |   1050882 | PA      | $947112.65    | 0.31%             | 2029-09-27      | Floating      | 8.82%                 | No            |                  2 | On Loan: No      |
| Pitney Bowes Inc                                                         | Pitney Bowe 01/31/32                        | CUSIP: 72448FAW5<br>LEI: 549300N2O26NW4ST6W55 | Long             | LON              | CORP              | US        |   1625000 | PA      | $1602656.25   | 0.53%             | 2032-03-19      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| WALGREENS BOOTS ALLIANCE                                                 | WALGREENS BOOTS ALLIANCE                    | CUSIP: 93143DBL7<br>LEI: 549300RPTUOIXG4LIH86 | Long             | LON              | CORP              | US        |   4000000 | PA      | $3982500.00   | 1.32%             | 2026-08-07      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| GBT US III LLC                                                           | GBT US II 07/28/31                          | CUSIP: 36154HAC4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    758100 | PA      | $751993.50    | 0.25%             | 2031-07-25      | Floating      | 6.78%                 | No            |                  2 | On Loan: No      |
| Creation Technologies Inc                                                | CREATION TECHNOL 09/14/28                   | CUSIP: 22526YAB0<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |   1333689 | PA      | $1275340.16   | 0.42%             | 2028-10-05      | Floating      | 10.05%                | No            |                  2 | On Loan: No      |
| Emg Utica Midstream Holdings LLC                                         | EMG UTICA MIDSTR 10/24/29                   | CUSIP: 000000000<br>LEI: 254900H5HLPM7ZD1LU54 | Long             | LON              | CORP              | US        |    635000 | PA      | $633412.50    | 0.21%             | 2029-10-24      | Floating      | 8.30%                 | No            |                  2 | On Loan: No      |
| Queen Mergerco, Inc                                                      | QXO INC                                     | CUSIP: 07368RAJ0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1415000 | PA      | $1415254.70   | 0.47%             | 2032-04-29      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Aramark Services Inc                                                     | ARAMARK SERVICE 06/24/30                    | CUSIP: 03852JAV3<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | LON              | CORP              | US        |    577688 | PA      | $578588.69    | 0.19%             | 2030-06-22      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| Leia Finco US LLC                                                        | DARKTRAC 07/02/31                           | CUSIP: 52526CAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1315000 | PA      | $1308885.25   | 0.43%             | 2031-10-09      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| FNZ Group Entities Limited                                               | FNZ USA FINCO                               | CUSIP: 30339HAD3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    235000 | PA      | $196225.00    | 0.07%             | 2031-11-05      | Floating      | 9.29%                 | No            |                  2 | On Loan: No      |
| Altice Financing SA                                                      | ALTICE FINANCING 10/31/27                   | CUSIP: 000000000<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | LON              | CORP              | LU        |    539329 | PA      | $441440.99    | 0.15%             | 2027-10-31      | Floating      | 9.26%                 | No            |                  2 | On Loan: No      |
| AHP Health Partners Inc                                                  | AHP HEALTH PARTN 08/24/28                   | CUSIP: 00130MAK0<br>LEI: 549300QMM8MQ6SM5KX05 | Long             | LON              | CORP              | US        |    853889 | PA      | $854687.28    | 0.28%             | 2028-08-24      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| Golden State Foods LLC                                                   | GOLDEN ST FOOD 10/07/31                     | CUSIP: 38121NAC7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    995025 | PA      | $998313.44    | 0.33%             | 2031-12-04      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-25

**Name of Applicant:** Virtus ETF Trust II

**Signature:** Brinton W. Frith

**Name of Signer:** Brinton W. Frith

**Title:** Treasurer and Principal Financial Officer