# EDGAR Filing Document

**Accession Number:** 0001275214
**File Stem:** 0001145549-23-021674
**Filing Date:** 2023-3
**Character Count:** 422340
**Document Hash:** b23833e2088582432915d704f06011c9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-021674.hdr.sgml**: 20230331

**ACCESSION NUMBER**: 0001145549-23-021674

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230331

**DATE AS OF CHANGE**: 20230331

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CALAMOS STRATEGIC TOTAL RETURN FUND
- **CENTRAL INDEX KEY:** 0001275214
- **IRS NUMBER:** 043785941
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21484
- **FILM NUMBER:** 23786966

**BUSINESS ADDRESS:**
- **STREET 1:** 2020 CALAMOS COURT
- **STREET 2:** C/O CALAMOS ADVISORS LLC
- **CITY:** NAPERVILLE
- **STATE:** IL
- **ZIP:** 60653
- **BUSINESS PHONE:** 6302451046

**MAIL ADDRESS:**
- **STREET 1:** 2020 CALAMOS COURT
- **STREET 2:** C/O CALAMOS ADVISORS LLC
- **CITY:** NAPERVILLE
- **STATE:** IL
- **ZIP:** 60653

## Nport-Ex

## Calamos Strategic Total Return Fund
 **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)**<br>

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**PRINCIPAL** <br> **AMOUNT** | | **VALUE** |
| **CORPORATE BONDS (18.2%)** | **CORPORATE BONDS (18.2%)** | **CORPORATE BONDS (18.2%)** |
|  | ***Airlines (0.4%)*** |  |
| 1740545 | &nbsp;&nbsp;&nbsp;&nbsp; Air Canada Pass Through Trust<br> Series 2015-1, Class B\*<br> 3.875%, 09/15/24 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1733774 |
| 226166 | &nbsp;&nbsp;&nbsp;&nbsp; Air Canada Pass Through Trust<br> Series 2015-2, Class B\*<br> 5.000%, 06/15/25 | 220473 |
| 1180513 | &nbsp;&nbsp;&nbsp;&nbsp; Alaska Airlines Pass Through Trust<br> Series 2020-1, Class A\*<br> 4.800%, 02/15/29 | 1152476 |
| 702262 | &nbsp;&nbsp;&nbsp;&nbsp; Alaska Airlines Pass Through Trust<br> Series 2020-1, Class B\*<br> 8.000%, 02/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716321 |
| 1313181 | &nbsp;&nbsp;&nbsp;&nbsp; British Airways Pass Through Trust<br> Series 2021-1, Class B\*<br> 3.900%, 03/15/33 | 1122823 |
| 897360 | &nbsp;&nbsp;&nbsp;&nbsp; JetBlue Pass Through Trust<br> Series 2020-1, Class B<br> 7.750%, 05/15/30 | 885838 |
| 1570000 | &nbsp;&nbsp;&nbsp;&nbsp; Spirit Loyalty Cayman, Ltd. /<br> Spirit IP Cayman, Ltd.\*<br> 8.000%, 09/20/25 | 1605207 |
| 528523 | &nbsp;&nbsp;&nbsp;&nbsp; United Airlines Pass Through<br> Trust Series 2019-2, Class B<br> 3.500%, 11/01/29 | 474798 |
|  |  | 7911710 |
|  | ***Communication Services (1.9%)*** |  |
| 1400000 | &nbsp;&nbsp;&nbsp;&nbsp; Altice France, SA\*<br> 5.500%, 10/15/29 | 1107582 |
| 1415000 | &nbsp;&nbsp;&nbsp;&nbsp; APi Group DE, Inc.\*<br> 4.750%, 10/15/29 | 1277646 |
| 1795000 | &nbsp;&nbsp;&nbsp;&nbsp; Arrow Bidco, LLC\*<br> 9.500%, 03/15/24 | 1805249 |
| 1270000 | &nbsp;&nbsp;&nbsp;&nbsp; Ashtead Capital, Inc.\*<br> 2.450%, 08/12/31 | 1026147 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Audacy Capital Corp.\* |  |
| 1479000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/31/29 | 265791 |
| 538000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 05/01/27 | 93671 |
| 884000 | &nbsp;&nbsp;&nbsp;&nbsp; Beasley Mezzanine Holdings, LLC\*<br> 8.625%, 02/01/26 | 578136 |
| 890000 | &nbsp;&nbsp;&nbsp;&nbsp; Cincinnati Bell Telephone Company, LLC<br> 6.300%, 12/01/28 | 801748 |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; CMG Media Corp.\*<br> 8.875%, 12/15/27 | 235116 |
| 1815000 | &nbsp;&nbsp;&nbsp;&nbsp; Consolidated Communications, Inc.\*<br> 6.500%, 10/01/28 | 1483762 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CSC Holdings, LLC\* |  |
| 1950000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 01/15/30 | 1232517 |
| 1940000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 04/15/27 | 1710207 |
| 1800000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 02/01/28 | 1514412 |
| 1800000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 12/01/30 | 1066536 |
| 1395000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/31 | 1029287 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Diamond Sports Group, LLC /<br> Diamond Sports Finance Company\* |  |
| 825000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 08/15/27 | 17309 |
| 656000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 08/15/26 | 48485 |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL <br>AMOUNT** | | **VALUE** |
| 1633000 | &nbsp;&nbsp;&nbsp;&nbsp; Directv Financing, LLC / Directv Financing Co-Obligor, Inc.\*<br> 5.875%, 08/15/27 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1481719 |
| 810000 | &nbsp;&nbsp;&nbsp;&nbsp; Embarq Corp.<br> 7.995%, 06/01/36 | 391343 |
| 1210000 | &nbsp;&nbsp;&nbsp;&nbsp; Frontier California, Inc.<br> 6.750%, 05/15/27 | 1146983 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Frontier Communications Holdings, LLC\* |  |
| 749000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/01/28 | 680347 |
| 298000 | &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 05/15/30 | 308949 |
| 1333000 | &nbsp;&nbsp;&nbsp;&nbsp; Frontier Florida, LLC@<br> 6.860%, 02/01/28 | 1240023 |
| 1785000 | &nbsp;&nbsp;&nbsp;&nbsp; Frontier North, Inc.@<br> 6.730%, 02/15/28 | 1652946 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Go Daddy Operating Company, LLC / GD Finance Company, Inc.\* |  |
| 1030000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/01/29 | 892237 |
| 301000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 12/01/27 | 291886 |
| 345000 | &nbsp;&nbsp;&nbsp;&nbsp; Hughes Satellite Systems Corp.<br> 5.250%, 08/01/26 | 336841 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Intelsat Jackson Holdings, SA\*@& |  |
| 900000 | &nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 07/15/25 | 1 |
| 585000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 08/01/23 | 1 |
| 1480000 | &nbsp;&nbsp;&nbsp;&nbsp; LCPR Senior Secured Financing DAC\*<br> 6.750%, 10/15/27 | 1442497 |
| 812658 | &nbsp;&nbsp;&nbsp;&nbsp; Ligado Networks, LLC\*<br> 15.500%, 11/01/23 | 284560 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Lumen Technologies, Inc. |  |
| 1886000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.600%, 09/15/39 | 1276728 |
| 596000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 01/15/29\* | 401096 |
| 596000 | &nbsp;&nbsp;&nbsp;&nbsp; Match Group Holdings II, LLC\*<br> 3.625%, 10/01/31 | 478886 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Netflix, Inc. |  |
| 910000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 06/15/30\* | 902047 |
| 610000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 04/15/28 | 610152 |
| 740000 | &nbsp;&nbsp;&nbsp;&nbsp; Paramount Global‡<br> 6.375%, 03/30/62<br> 5 year CMT + 4.00% | 644629 |
| 235000 | &nbsp;&nbsp;&nbsp;&nbsp; Rogers Communications, Inc.\*‡<br> 5.250%, 03/15/82<br> 5 year CMT + 3.59% | 213154 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Scripps Escrow II, Inc.\* |  |
| 591000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 01/15/29 | 496700 |
| 295000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 01/15/31 | 238245 |
| 985000 | &nbsp;&nbsp;&nbsp;&nbsp; Scripps Escrow, Inc.\*<br> 5.875%, 07/15/27 | 880462 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Sirius XM Radio, Inc.\* |  |
| 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 07/01/29 | 1409310 |
| 885000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/15/28 | 787907 |
| 585000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 09/01/26 | 528039 |
| 298000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 09/01/31 | 245486 |
| 585000 | &nbsp;&nbsp;&nbsp;&nbsp; Spanish Broadcasting System, Inc.\*<br> 9.750%, 03/01/26 | 345881 |
| 3045000 | &nbsp;&nbsp;&nbsp;&nbsp; Sprint, LLC<br> 7.125%, 06/15/24 | 3115157 |
| 1045000 | &nbsp;&nbsp;&nbsp;&nbsp; Stagwell Global, LLC\*<br> 5.625%, 08/15/29 | 917029 |
| 880000 | &nbsp;&nbsp;&nbsp;&nbsp; Telecom Italia Capital, SA<br> 6.000%, 09/30/34 | 707203 |
| 1196000 | &nbsp;&nbsp;&nbsp;&nbsp; Telesat Canada / Telesat, LLC\*<br> 4.875%, 06/01/27 | 550435 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Strategic Total Return Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**PRINCIPAL** <br> **AMOUNT** | | **VALUE** | **VALUE** | **VALUE** |
| 480000 | &nbsp;&nbsp;&nbsp;&nbsp; Time Warner Cable, LLC<br> 7.300%, 07/01/38 | $| 516197 |  |
| 1955000 | &nbsp;&nbsp;&nbsp;&nbsp; United States Cellular Corp.<br> 6.700%, 12/15/33 |  | 1819518 |  |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Vodafone Group, PLC‡<br> 7.000%, 04/04/79<br> USD 5 year swap rate + 4.87% |  | 129049 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42657244 |  |
|  | ***Consumer Discretionary (3.2%)*** | ***Consumer Discretionary (3.2%)*** | ***Consumer Discretionary (3.2%)*** | **** |
| 1435000 | &nbsp;&nbsp;&nbsp;&nbsp; Abercrombie & Fitch Management Company\*^<br> 8.750%, 07/15/25 |  | 1451158 |  |
| 1243000 | &nbsp;&nbsp;&nbsp;&nbsp; American Axle & Manufacturing, Inc.<br> 6.875%, 07/01/28 |  | 1134088 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Ashton Woods USA, LLC / Ashton Woods Finance Company\* |  |  |  |
| 1043000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 08/01/29 |  | 871562 |  |
| 856000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 01/15/28 |  | 783582 |  |
| 1487000 | &nbsp;&nbsp;&nbsp;&nbsp; At Home Group, Inc.\*^<br> 4.875%, 07/15/28 |  | 1087711 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Bath & Body Works, Inc. |  |  |  |
| 1577000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.694%, 01/15/27 |  | 1589742 |  |
| 1475000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 11/01/35 |  | 1361322 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc.\* |  |  |  |
| 728000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 10/15/29^ |  | 622491 |  |
| 605000 | &nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 07/01/27^ |  | 614601 |  |
| 605000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 07/01/25 |  | 603137 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Carnival Corp.\* |  |  |  |
| 582000 | &nbsp;&nbsp;&nbsp;&nbsp; 10.500%, 02/01/26 |  | 609401 |  |
| 295000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 03/01/26^ |  | 268769 |  |
| 1385000 | &nbsp;&nbsp;&nbsp;&nbsp; Carriage Services, Inc.\*<br> 4.250%, 05/15/29 |  | 1140825 |  |
| 900000 | &nbsp;&nbsp;&nbsp;&nbsp; Carvana Company\*<br> 4.875%, 09/01/29 |  | 402030 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CCO Holdings, LLC / CCO Holdings Capital Corp.\* |  |  |  |
| 3900000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 05/01/27 |  | 3720210 |  |
| 1370000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 09/01/29 |  | 1323242 |  |
| 1300000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 03/01/30 |  | 1137916 |  |
| 1198000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 02/01/31 |  | 998844 |  |
| 620000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/01/28 |  | 579092 |  |
| 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/15/30 |  | 513378 |  |
| 596000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 02/01/32 |  | 507095 |  |
| 596000 | &nbsp;&nbsp;&nbsp;&nbsp; CDI Escrow Issuer, Inc.\*<br> 5.750%, 04/01/30 |  | 565568 |  |
| 900000 | &nbsp;&nbsp;&nbsp;&nbsp; Cedar Fair, LP<br> 5.250%, 07/15/29 |  | 829737 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Dana, Inc. |  |  |  |
| 985000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 09/01/30 |  | 838107 |  |
| 596000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/15/32 |  | 502952 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; DISH DBS Corp. |  |  |  |
| 1495000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 12/01/26\* |  | 1289198 |  |
| 926000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 07/01/26 |  | 752458 |  |
| 739000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 07/01/28 |  | 532176 |  |
| 590000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 06/01/29 |  | 376155 |  |
| 1200000 | &nbsp;&nbsp;&nbsp;&nbsp; DISH Network Corp.\*<br> 11.750%, 11/15/27 |  | 1245696 |  |
| 1675000 | &nbsp;&nbsp;&nbsp;&nbsp; Empire Resorts, Inc.\*<br> 7.750%, 11/01/26 |  | 1374287 |  |
| 1308000 | &nbsp;&nbsp;&nbsp;&nbsp; Everi Holdings, Inc.\*<br> 5.000%, 07/15/29 |  | 1184551 |  |
| 1240000 | &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Company<br> 6.100%, 08/19/32 |  | 1218077 |  |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL<br>AMOUNT** | | **VALUE** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Credit Company, LLC |  |
| 2300000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.350%, 11/04/27 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2414632 |
| 1885000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/13/30 | 1647716 |
| 1450000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.113%, 05/03/29 | 1375688 |
| 1400000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.134%, 08/04/25 | 1338988 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 02/16/28 | 865460 |
| 525000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.350%, 03/06/30 | 551812 |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 05/28/27 Gap, Inc.\* | 288315 |
| 447000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 10/01/31^ | 335237 |
| 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 10/01/29 | 46172 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; General Motors Financial Company, Inc.‡ |  |
| 185000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 09/30/30^<br> 5 year CMT + 5.00% | 172339 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 09/30/28<br> 3 mo. LIBOR + 3.44% | 118106 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; goeasy, Ltd.\* |  |
| 2050000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 12/01/24 | 1967200 |
| 1111000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 05/01/26 | 998045 |
| 1496000 | &nbsp;&nbsp;&nbsp;&nbsp; Goodyear Tire & Rubber Company^<br> 5.000%, 07/15/29 | 1320504 |
| 511000 | &nbsp;&nbsp;&nbsp;&nbsp; Group 1 Automotive, Inc.\*<br> 4.000%, 08/15/28 | 449614 |
| 1780000 | &nbsp;&nbsp;&nbsp;&nbsp; Guitar Center, Inc.\*<br> 8.500%, 01/15/26 | 1557180 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; International Game Technology, PLC\* |  |
| 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 01/15/27 | 1508310 |
| 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 04/15/26 | 381072 |
| 1175000 | &nbsp;&nbsp;&nbsp;&nbsp; Liberty Interactive, LLC<br> 8.250%, 02/01/30 | 554917 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Life Time, Inc.\* |  |
| 884000 | &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 04/15/26^ | 859805 |
| 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 01/15/26 | 580704 |
| 767000 | &nbsp;&nbsp;&nbsp;&nbsp; Lindblad Expeditions, LLC\*<br> 6.750%, 02/15/27 | 752113 |
| 780000 | &nbsp;&nbsp;&nbsp;&nbsp; M/I Homes, Inc.<br> 3.950%, 02/15/30 | 657134 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Macy's Retail Holdings, LLC |  |
| 1248000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.700%, 07/15/34\* | 1055608 |
| 744000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 03/15/30\* | 681511 |
| 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 02/15/43 | 372618 |
| 1375000 | &nbsp;&nbsp;&nbsp;&nbsp; Mclaren Finance, PLC\*<br> 7.500%, 08/01/26 | 1041480 |
| 1518000 | &nbsp;&nbsp;&nbsp;&nbsp; Midwest Gaming Borrower, LLC / Midwest Gaming Finance Corp.\*<br> 4.875%, 05/01/29 | 1344113 |
| 1649000 | &nbsp;&nbsp;&nbsp;&nbsp; Mohegan Tribal Gaming Authority\*<br> 8.000%, 02/01/26 | 1563879 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Newell Brands, Inc.^ |  |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 09/15/27 | 301986 |
| 148000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 09/15/29 | 150193 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Nordstrom, Inc. |  |
| 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/15/44 | 404364 |
| 551000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 08/01/31 | 414914 |
| 1370000 | &nbsp;&nbsp;&nbsp;&nbsp; Penn Entertainment, Inc.\*<br> 4.125%, 07/01/29 | 1136840 |
| 1670000 | &nbsp;&nbsp;&nbsp;&nbsp; Premier Entertainment Sub, LLC / Premier Entertainment Finance Corp.\*<br> 5.625%, 09/01/29 | 1216929 |
| 2933000 | &nbsp;&nbsp;&nbsp;&nbsp; Rite Aid Corp.\*<br> 8.000%, 11/15/26 | 1638872 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Strategic Total Return Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**PRINCIPAL** <br> **AMOUNT** | | **VALUE** |
| 1670000 | &nbsp;&nbsp;&nbsp;&nbsp; Simmons Foods, Inc. / Simmons Prepared Foods, Inc. / Simmons Pet Food, Inc. / Simmons Feed\*<br> 4.625%, 03/01/29 | $1418498 |
| 1348000 | &nbsp;&nbsp;&nbsp;&nbsp; Sonic Automotive, Inc.\*^<br> 4.625%, 11/15/29 | 1122075 |
| 837000 | &nbsp;&nbsp;&nbsp;&nbsp; Speedway Motorsports, LLC / Speedway Funding II, Inc.\*<br> 4.875%, 11/01/27 | 786278 |
| 2430000 | &nbsp;&nbsp;&nbsp;&nbsp; Station Casinos, LLC\*<br> 4.500%, 02/15/28 | 2189722 |
| 707000 | &nbsp;&nbsp;&nbsp;&nbsp; Taylor Morrison Communities, Inc.\*<br> 5.750%, 01/15/28 | 686631 |
| 290000 | &nbsp;&nbsp;&nbsp;&nbsp; Viking Cruises, Ltd.\*<br> 13.000%, 05/15/25 | 307786 |
| 1355000 | &nbsp;&nbsp;&nbsp;&nbsp; Vista Outdoor, Inc.\*<br> 4.500%, 03/15/29 | 1098634 |
| 298000 | &nbsp;&nbsp;&nbsp;&nbsp; Williams Scotsman International, Inc.\*<br> 4.625%, 08/15/28 | 276380 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71979532 |
|  | ***Consumer Staples (0.7%)*** |  |
| 1358000 | &nbsp;&nbsp;&nbsp;&nbsp; Central Garden & Pet Company\*<br> 4.125%, 04/30/31 | 1140924 |
| 1349000 | &nbsp;&nbsp;&nbsp;&nbsp; Edgewell Personal Care Company\*<br> 4.125%, 04/01/29 | 1176382 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Energizer Holdings, Inc.\* |  |
| 1641000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 03/31/29 | 1424798 |
| 298000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 12/31/27 | 291322 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; JBS USA LUX, SA / JBS USA Food Company / JBS USA Finance, Inc.\* |  |
| 1770000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/15/30 | 1721183 |
| 1340000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 02/01/28 | 1314486 |
| 440000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 04/01/33 | 433400 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Land O' Lakes, Inc.\*<br> 7.000%, 09/18/28 | 110729 |
| 751000 | &nbsp;&nbsp;&nbsp;&nbsp; New Albertsons, LP<br> 7.750%, 06/15/26 | 764909 |
| 1192000 | &nbsp;&nbsp;&nbsp;&nbsp; Performance Food Group, Inc.\*<br> 4.250%, 08/01/29 | 1065112 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; Petsmart, Inc. / PetSmart Finance Corp.\*<br> 7.750%, 02/15/29 | 740805 |
| 375000 | &nbsp;&nbsp;&nbsp;&nbsp; PetSmart, Inc. / PetSmart Finance Corp.\*<br> 4.750%, 02/15/28 | 348491 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Pilgrim's Pride Corp.\* |  |
| 950000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 09/30/27 | 943284 |
| 900000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 04/15/31 | 781272 |
| 505000 | &nbsp;&nbsp;&nbsp;&nbsp; Post Holdings, Inc.\*<br> 5.750%, 03/01/27 | 498369 |
| 1124000 | &nbsp;&nbsp;&nbsp;&nbsp; Prestige Brands, Inc.\*<br> 3.750%, 04/01/31 | 954939 |
| 1300000 | &nbsp;&nbsp;&nbsp;&nbsp; United Natural Foods, Inc.\*^<br> 6.750%, 10/15/28 | 1256541 |
| 1857000 | &nbsp;&nbsp;&nbsp;&nbsp; Vector Group, Ltd.\*<br> 5.750%, 02/01/29 | 1622535 |
|  |  | 16589481 |
|  | ***Energy (2.1%)*** |  |
| 1198000 | &nbsp;&nbsp;&nbsp;&nbsp; Antero Resources Corp.\*<br> 5.375%, 03/01/30 | 1118357 |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL <br>AMOUNT** | | **VALUE** |
| 1187000 | &nbsp;&nbsp;&nbsp;&nbsp; Apache Corp.<br> 5.100%, 09/01/40 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1037153 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Buckeye Partners, LP |  |
| 900000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 12/01/26^ | 826812 |
| 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 11/15/43 | 461634 |
| 1670000 | &nbsp;&nbsp;&nbsp;&nbsp; Callon Petroleum Company\*<br> 7.500%, 06/15/30 | 1617662 |
| 591000 | &nbsp;&nbsp;&nbsp;&nbsp; Cheniere Energy, Inc.<br> 4.625%, 10/15/28 | 563678 |
| 892000 | &nbsp;&nbsp;&nbsp;&nbsp; Chesapeake Energy Corp.\*<br> 6.750%, 04/15/29 | 880966 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Continental Resources, Inc.\* |  |
| 900000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 04/01/32 | 706626 |
| 610000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 01/15/31 | 599526 |
| 1950000 | &nbsp;&nbsp;&nbsp;&nbsp; DCP Midstream Operating, LP\*‡<br> 5.850%, 05/21/43<br> 3 mo. LIBOR + 3.85% | 1931514 |
| 11988 | &nbsp;&nbsp;&nbsp;&nbsp; Diamond Foreign Asset Company / Diamond Finance, LLC<br> 9.000%, 04/22/27<br> 13.000% PIK rate | 11605 |
| 921000 | &nbsp;&nbsp;&nbsp;&nbsp; DT Midstream, Inc.\*<br> 4.125%, 06/15/29 | 813381 |
| 1791000 | &nbsp;&nbsp;&nbsp;&nbsp; Earthstone Energy Holdings, LLC\*<br> 8.000%, 04/15/27 | 1748947 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Enbridge, Inc.‡ |  |
| 901000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 01/15/83<br> 5 year CMT + 3.71% | 902451 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 07/15/80<br> 5 year CMT + 5.31% | 190270 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Energy Transfer, LP‡ |  |
| 1735000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.831%, 11/01/66<br> 3 mo. LIBOR + 3.02% | 1406113 |
| 1015000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 11/15/26<br> 5 year CMT + 5.69% | 957856 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EnLink Midstream Partners, LP |  |
| 1775000 | &nbsp;&nbsp;&nbsp;&nbsp; 8.879%, 03/03/23‡<br> 3 mo. LIBOR + 4.11% | 1494248 |
| 1285000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 07/15/26 | 1249997 |
| 595000 | &nbsp;&nbsp;&nbsp;&nbsp; Enlink Midstream, LLC\*<br> 6.500%, 09/01/30 | 607239 |
| 75000 | &nbsp;&nbsp;&nbsp;&nbsp; Enterprise Products Operating, LLC‡<br> 7.630%, 08/16/77<br> 3 mo. LIBOR + 2.99% | 71304 |
| 1370000 | &nbsp;&nbsp;&nbsp;&nbsp; EQM Midstream Partners, LP\* 7.500%, 06/01/27 | 1375179 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Genesis Energy, LP / Genesis Energy Finance Corp. |  |
| 1173000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 05/15/26 | 1125634 |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 04/15/30 | 305082 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Gulfport Energy Corp. |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 05/15/25@& | 1 |
| 885000 | &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 05/17/26\* | 879265 |
| 305622 | &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 05/17/26 | 303642 |
| 1370000 | &nbsp;&nbsp;&nbsp;&nbsp; Hilcorp Energy I, LP / Hilcorp Finance Company\*<br> 6.000%, 04/15/30 | 1283978 |
| 894000 | &nbsp;&nbsp;&nbsp;&nbsp; Howard Midstream Energy Partners, LLC\*<br> 6.750%, 01/15/27 | 872812 |
| 1162000 | &nbsp;&nbsp;&nbsp;&nbsp; Magnolia Oil & Gas Operating, LLC / Magnolia Oil & Gas Finance Corp.\*<br> 6.000%, 08/01/26 | 1125676 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Strategic Total Return Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL <br>AMOUNT** | | **VALUE** |
|  | Moss Creek Resources Holdings, Inc.\* |  |
| 600000 | 10.500%, 05/15/27 | $583488 |
| 540000 | 7.500%, 01/15/26 | 499354 |
| 1311000 | MPLX, LP‡^<br> 6.875%, 02/15/23<br> 3 mo. LIBOR + 4.65% | 1311839 |
| 600000 | Nabors Industries, Inc.\*<br> 7.375%, 05/15/27 | 601254 |
|  | New Fortress Energy, Inc.\* |  |
| 1191000 | 6.750%, 09/15/25 | 1144039 |
| 589000 | 6.500%, 09/30/26 | 544354 |
| 1082000 | Par Petroleum, LLC / Par Petroleum Finance Corp.\*<br> 7.750%, 12/15/25 | 1069049 |
| 1270000 | Parkland Corp.\*~<br> 5.875%, 07/15/27 | 1221054 |
| 1196000 | Patterson-UTI Energy, Inc.<br> 5.150%, 11/15/29 | 1117375 |
| 1390000 | Plains All American Pipeline, LP‡<br> 8.716%, 03/03/23<br> 3 mo. LIBOR + 4.11% | 1257783 |
| 1070000 | Rockcliff Energy II, LLC\*<br> 5.500%, 10/15/29 | 1020170 |
|  | Southwestern Energy Company |  |
| 895000 | 5.375%, 03/15/30 | 834695 |
| 600000 | 5.375%, 02/01/29 | 564426 |
| 593000 | 4.750%, 02/01/32 | 523162 |
| 298000 | Sunoco, LP / Sunoco Finance Corp.<br> 4.500%, 04/30/30 | 265986 |
| 600000 | Transocean, Inc.\* 8.750%, 02/15/30 | 619998 |
|  | Venture Global Calcasieu Pass, LLC\* |  |
| 300000 | 4.125%, 08/15/31 | 266643 |
| 300000 | 3.875%, 08/15/29 | 267900 |
| 75000 | 6.250%, 01/15/30 | 76493 |
|  | Vital Energy, Inc. |  |
| 1285000 | 10.125%, 01/15/28 | 1281620 |
| 604000 | 9.500%, 01/15/25 | 610010 |
| 1200000 | VOC Escrow, Ltd.\* 5.000%, 02/15/28 | 1058004 |
| 770000 | W&T Offshore, Inc.\* 9.750%, 11/01/23 | 770693 |
|  | Weatherford International, Ltd.\* |  |
| 1280000 | 6.500%, 09/15/28 | 1275738 |
| 900000 | 8.625%, 04/30/30 | 908289 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46162024 |
|  | ***Financials (4.0%)*** |  |
|  | Acrisure, LLC / Acrisure Finance, Inc.\* |  |
| 1883000 | 7.000%, 11/15/25 | 1795139 |
| 1783000 | 6.000%, 08/01/29 | 1473257 |
| 1789000 | Aethon United BR, LP / Aethon United Finance Corp.\*<br> 8.250%, 02/15/26 | 1782005 |
| 1892000 | AG Issuer, LLC\*<br> 6.250%, 03/01/28 | 1790400 |
|  | Alliant Holdings Intermediate, LLC / Alliant Holdings Co-Issuer\* |  |
| 2500000 | 6.750%, 10/15/27 | 2342975 |
| 300000 | 5.875%, 11/01/29 | 261768 |
| 300000 | 4.250%, 10/15/27 | 275496 |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL <br>AMOUNT** | | **VALUE** |
| 140000 | &nbsp;&nbsp;&nbsp;&nbsp; Allstate Corp.‡<br> 5.750%, 08/15/53<br> 3 mo. USD LIBOR + 2.94% | $138264 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Ally Financial, Inc. |  |
| 1782000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 05/15/26‡<br> 5 year CMT + 3.87% | 1468012 |
| 964000 | &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 11/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1059369 |
| 850000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 05/15/28‡<br> 7 year CMT + 3.48% | 655562 |
| 163000 | &nbsp;&nbsp;&nbsp;&nbsp; American Express Company‡<br> 3.550%, 09/15/26<br> 5 year CMT + 2.85% | 144519 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; American International Group, Inc.‡<br> 5.750%, 04/01/48<br> 3 mo. LIBOR + 2.87% | 246402 |
| 2365000 | &nbsp;&nbsp;&nbsp;&nbsp; AmWINS Group, Inc.\*<br> 4.875%, 06/30/29 | 2087018 |
| 460000 | &nbsp;&nbsp;&nbsp;&nbsp; Ares Finance Company III, LLC\*‡<br> 4.125%, 06/30/51<br> 5 year CMT + 3.24% | 360171 |
| 1030000 | &nbsp;&nbsp;&nbsp;&nbsp; AssuredPartners, Inc.\*<br> 7.000%, 08/15/25 | 1018031 |
| 1307000 | &nbsp;&nbsp;&nbsp;&nbsp; Aviation Capital Group, LLC\*<br> 3.500%, 11/01/27 | 1174222 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Avolon Holdings Funding, Ltd.\* |  |
| 635000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 07/01/24 | 616267 |
| 490000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/15/26 | 480313 |
| 285000 | &nbsp;&nbsp;&nbsp;&nbsp; AXIS Specialty Finance, LLC‡<br> 4.900%, 01/15/40<br> 5 year CMT + 3.19% | 244972 |
| 304000 | &nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp.‡<br> 6.125%, 04/27/27<br> 5 year CMT + 3.23% | 303343 |
| 145000 | &nbsp;&nbsp;&nbsp;&nbsp; Bank of Montreal‡<br> 4.800%, 08/25/24<br> 5 year CMT + 2.98% | 137464 |
| 763000 | &nbsp;&nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp.‡<br> 4.700%, 09/20/25<br> 5 year CMT + 4.36% | 747908 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Bank of Nova Scotia‡ |  |
| 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 10/27/81<br> 5 year CMT + 2.613% | 189686 |
| 220000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 06/04/25<br> 5 year CMT + 4.55% | 213985 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Barclays, PLC‡ |  |
| 275000 | &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 03/15/29<br> 5 year CMT + 5.43% | 275883 |
| 220000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 03/15/28<br> 5 year CMT + 3.41% | 179641 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; BP Capital Markets, PLC‡ |  |
| 280000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 03/22/30<br> 5 year CMT + 4.40% | 261920 |
| 145000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 06/22/25<br> 5 year CMT + 4.04% | 140794 |
| 2379000 | &nbsp;&nbsp;&nbsp;&nbsp; BroadStreet Partners, Inc.\*<br> 5.875%, 04/15/29 | 2103012 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Brookfield Property REIT, Inc. / BPR Cumulus, LLC / BPR Nimbus, LLC / GGSI Sellco, LLC\* |  |
| 2380000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 04/01/27 | 2101707 |
| 1547000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 05/15/26 | 1459347 |
| 1200000 | &nbsp;&nbsp;&nbsp;&nbsp; Burford Capital Global Financial, LLC\*<br> 6.875%, 04/15/30 | 1098180 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Strategic Total Return Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL <br>AMOUNT** | | **VALUE** |
| 323000 | &nbsp;&nbsp;&nbsp;&nbsp; Capital One Financial Corp.‡^<br> 3.950%, 09/01/26<br> 5 year CMT + 3.16% | $281475 |
| 1340000 | &nbsp;&nbsp;&nbsp;&nbsp; Castlelake Aviation Finance DAC\*^<br> 5.000%, 04/15/27 | 1227467 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Charles Schwab Corp.‡ |  |
| 325000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/01/26<br> 5 year CMT + 3.17% | 299660 |
| 147000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/30<br> 10 year CMT + 3.08% | 126564 |
| 135000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 06/01/25^<br> 5 year CMT + 4.97% | 134563 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc.‡ |  |
| 546000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 11/15/26<br> 5 year CMT + 3.00% | 488621 |
| 509000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 02/18/26<br> 5 year CMT + 3.42% | 465811 |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/10/25<br> 5 year CMT + 3.60% | 140144 |
| 450000 | &nbsp;&nbsp;&nbsp;&nbsp; Citizens Financial Group, Inc.‡<br> 4.000%, 10/06/26<br> 5 year CMT + 3.22% | 393070 |
| 70000 | &nbsp;&nbsp;&nbsp;&nbsp; Corebridge Financial, Inc.\*‡<br> 6.875%, 12/15/52<br> 5 year CMT + 3.85% | 69261 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Credit Acceptance Corp. |  |
| 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 03/15/26^ | 1373370 |
| 1092000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 12/31/24\* | 1027845 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Credit Suisse Group, AG\*‡<br> 7.500%, 12/11/23 USD<br> 5 year swap rate + 4.60% | 189584 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Discover Financial Services‡ |  |
| 245000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 06/23/25<br> 5 year CMT + 5.78% | 244339 |
| 135000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/30/27<br> 3 mo. LIBOR + 3.08% | 119039 |
| 1533000 | &nbsp;&nbsp;&nbsp;&nbsp; Enact Holdings, Inc.\*<br> 6.500%, 08/15/25 | 1512396 |
| 75000 | &nbsp;&nbsp;&nbsp;&nbsp; Enstar Finance, LLC‡<br> 5.500%, 01/15/42<br> 5 year CMT + 4.01% | 62186 |
| 605000 | &nbsp;&nbsp;&nbsp;&nbsp; Fifth Third Bancorp‡^<br> 4.500%, 09/30/25<br> 5 year CMT + 4.22% | 586499 |
| 1718000 | &nbsp;&nbsp;&nbsp;&nbsp; Global Net Lease, Inc. / Global Net Lease Operating Partnership, LP\*<br> 3.750%, 12/15/27 | 1452225 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc.‡ |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 02/10/25<br> 5 year CMT + 2.85% | 454525 |
| 153000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/10/26<br> 5 year CMT + 2.95% | 136621 |
| 1891000 | &nbsp;&nbsp;&nbsp;&nbsp; Greystar Real Estate Partners, LLC\*<br> 5.750%, 12/01/25 | 1868837 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; HSBC Holdings, PLC‡<br> 6.375%, 03/30/25 U.S.<br> 5 yr Swap + 4.37% | 197428 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; HUB International, Ltd.\* |  |
| 1877000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 05/01/26 | 1869586 |
| 1785000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 12/01/29^ | 1608053 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc.‡^ |  |
| 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 10/15/27 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; 7 year CMT + 4.05% | 331957 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**PRINCIPAL** <br> **AMOUNT** | | **VALUE** |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 07/15/30<br> 10 year CMT + 4.95% | $123345 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Icahn Enterprises, LP / Icahn Enterprises Finance Corp. |  |
| 892000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 02/01/29 | 778252 |
| 888000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 05/15/27 | 832074 |
| 2448000 | &nbsp;&nbsp;&nbsp;&nbsp; ILFC E-Capital Trust II\*‡<br> 6.538%, 12/21/65<br> 3 mo. LIBOR + 1.80% | 1652914 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; ING Groep, NV‡ |  |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 05/16/31<br> 5 year CMT + 2.86% | 151510 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 05/16/27<br> 5 year CMT + 2.86% | 162838 |
| 2470000 | &nbsp;&nbsp;&nbsp;&nbsp; Iron Mountain, Inc.\*<br> 5.250%, 03/15/28 | 2351144 |
| 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; Jefferies Finance, LLC / JFIN Co- Issuer Corp.\*<br> 5.000%, 08/15/28 | 2567070 |
| 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Company‡<br> 3.650%, 06/01/26<br> 5 year CMT + 2.85% | 993080 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Ladder Capital Finance Holdings, LLLP / Ladder Capital Finance Corp.\* |  |
| 2306000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 10/01/25 | 2221854 |
| 596000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 06/15/29 | 495866 |
| 1680000 | &nbsp;&nbsp;&nbsp;&nbsp; LD Holdings Group, LLC\*<br> 6.125%, 04/01/28 | 1097242 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Level 3 Financing, Inc.\* |  |
| 1997000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 11/15/29 | 1620805 |
| 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 07/01/28 | 991675 |
| 420000 | &nbsp;&nbsp;&nbsp;&nbsp; Liberty Mutual Group, Inc.\*‡<br> 4.125%, 12/15/51<br> 5 year CMT + 3.32% | 359764 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Lloyds Banking Group, PLC‡<br> 7.500%, 06/27/24 USD<br> 5 year swap rate + 4.76% | 198676 |
| 892000 | &nbsp;&nbsp;&nbsp;&nbsp; LPL Holdings, Inc.\*<br> 4.000%, 03/15/29 | 798777 |
| 280000 | &nbsp;&nbsp;&nbsp;&nbsp; Markel Corp.‡<br> 6.000%, 06/01/25<br> 5 year CMT + 5.66% | 278841 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MetLife, Inc. |  |
| 2990000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 12/15/66 | 3065408 |
| 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 09/15/25‡<br> 5 year CMT + 3.58% | 214970 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Munich Re\*‡<br> 5.875%, 05/23/42<br> 5 year CMT + 3.98% | 204748 |
| 1615000 | &nbsp;&nbsp;&nbsp;&nbsp; Nationstar Mortgage Holdings, Inc.\*<br> 5.500%, 08/15/28 | 1412737 |
| 120000 | &nbsp;&nbsp;&nbsp;&nbsp; Nationwide Financial Services, Inc.<br> 6.750%, 05/15/87 | 119689 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Navient Corp. |  |
| 2555000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/15/27 | 2335755 |
| 1355000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 03/15/28 | 1200462 |
| 1370000 | &nbsp;&nbsp;&nbsp;&nbsp; Necessity Retail REIT, Inc. / American Finance Operating Partner, LP\*<br> 4.500%, 09/30/28 | 1053872 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Nordea Bank Abp\*‡ |  |
| 315000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 03/01/29<br> 5 year CMT + 2.60% | 250589 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Strategic Total Return Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL <br>AMOUNT** | | **VALUE** |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 03/26/26<br> 5 year CMT + 4.11% | $198328 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; OneMain Finance Corp. |  |
| 820000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 09/15/28 | 691752 |
| 614000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 03/15/26 | 611225 |
| 592000 | &nbsp;&nbsp;&nbsp;&nbsp; Park Intermediate Holdings, LLC / PK Domestic Property, LLC / PK Finance Co-Issuer\*<br> 5.875%, 10/01/28 | 548328 |
| 442000 | &nbsp;&nbsp;&nbsp;&nbsp; PartnerRe Finance B, LLC‡^<br> 4.500%, 10/01/50<br> 5 year CMT + 3.82% | 397097 |
| 1871000 | &nbsp;&nbsp;&nbsp;&nbsp; PHH Mortgage Corp.\*<br> 7.875%, 03/15/26 | 1712882 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc.‡ |  |
| 440000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/15/27<br> 5 year CMT + 3.00% | 437149 |
| 315000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 09/15/26<br> 5 year CMT + 2.60% | 268692 |
| 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.200%, 09/15/27<br> 5 year CMT + 3.24% | 140372 |
| 280000 | &nbsp;&nbsp;&nbsp;&nbsp; QBE Insurance Group, Ltd.\*‡^<br> 5.875%, 05/12/25<br> 5 year CMT + 5.51% | 276175 |
| 1355000 | &nbsp;&nbsp;&nbsp;&nbsp; RHP Hotel Properties, LP / RHP Finance Corp.\*<br> 4.500%, 02/15/29 | 1212739 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Rocket Mortgage, LLC / Rocket Mortgage Co-Issuer, Inc.\* |  |
| 560000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 03/01/31 | 457100 |
| 555000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 03/01/29 | 468986 |
| 275000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 10/15/26 | 245575 |
| 503000 | &nbsp;&nbsp;&nbsp;&nbsp; State Street Corp.‡^<br> 5.625%, 12/15/23<br> 3 mo. LIBOR + 2.54% | 486874 |
| 1225000 | &nbsp;&nbsp;&nbsp;&nbsp; StoneX Group, Inc.\*<br> 8.625%, 06/15/25 | 1242370 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; SVB Financial Group‡ |  |
| 674000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 05/15/26<br> 5 year CMT + 3.20% | 542152 |
| 224000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 02/15/31<br> 10 year CMT + 3.06% | 167382 |
| 133000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 11/15/26<br> 5 year CMT + 3.07% | 106504 |
| 425000 | &nbsp;&nbsp;&nbsp;&nbsp; Toronto-Dominion Bank‡<br> 8.125%, 10/31/82<br> 5 year CMT + 4.08% | 451261 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Truist Financial Corp.‡ |  |
| 295000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 09/01/24<br> 5 year CMT + 3.00% | 284501 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 09/01/25<br> 5 year CMT + 4.61% | 123928 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; UBS Group, AG\*‡ |  |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 01/31/24 USD<br> 5 year swap rate + 4.34% | 199566 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 02/12/27<br> 5 year CMT + 3.40% | 180464 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; United Wholesale Mortgage, LLC\* |  |
| 1383000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 04/15/29 | 1191261 |
| 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 06/15/27 | 540876 |
| 600000 | &nbsp;&nbsp;&nbsp;&nbsp; Uniti Group, LP / Uniti Group Finance, Inc. / CSL Capital, LLC\*<br> 6.500%, 02/15/29 | 415494 |
| 1340000 | &nbsp;&nbsp;&nbsp;&nbsp; VZ Secured Financing, BV\*<br> 5.000%, 01/15/32 | 1149037 |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL <br>AMOUNT** | | **VALUE** |
| 1230000 | &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Company‡<br> 3.900%, 03/15/26<br> 5 year CMT + 3.45% | $1134367 |
| 1255000 | &nbsp;&nbsp;&nbsp;&nbsp; XHR, LP\* 6.375%, 08/15/25 | 1245437 |
|  |  | 89949989 |
|  | ***Health Care (1.2%)*** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Bausch Health Companies, Inc.\* |  |
| 2370000 | &nbsp;&nbsp;&nbsp;&nbsp; 11.000%, 09/30/28 | 1861967 |
| 469000 | &nbsp;&nbsp;&nbsp;&nbsp; 14.000%, 10/15/30 | 302913 |
| 447000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 02/01/27 | 305337 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHS/Community Health Systems, Inc.\* |  |
| 2392000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 04/01/30 | 1453331 |
| 1325000 | &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 03/15/26 | 1288284 |
| 663000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 04/15/29 | 419944 |
| 149000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 05/15/30 | 120340 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; DaVita, Inc.\* |  |
| 2381000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 06/01/30 | 2007469 |
| 1395000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 02/15/31 | 1086217 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Embecta Corp.\* |  |
| 894000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/15/30 | 737175 |
| 298000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 02/15/30 | 268811 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Encompass Health Corp. |  |
| 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 02/01/30 | 550698 |
| 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/01/28 | 560724 |
| 1369000 | &nbsp;&nbsp;&nbsp;&nbsp; HCA, Inc.<br> 7.500%, 11/06/33 | 1518823 |
| 350000 | &nbsp;&nbsp;&nbsp;&nbsp; Jazz Securities DAC\*<br> 4.375%, 01/15/29 | 320366 |
| 488000 | &nbsp;&nbsp;&nbsp;&nbsp; Mallinckrodt International Finance, SA / Mallinckrodt CB, LLC\*<br> 10.000%, 06/15/29 | 280595 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Medline Borrower, LP\* |  |
| 1484000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 10/01/29^ | 1247287 |
| 1480000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 04/01/29 | 1267650 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Organon & Company / Organon Foreign Debt Co-Issuer, BV\* |  |
| 2200000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 04/30/31 | 1984202 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 04/30/28 | 454440 |
| 1251000 | &nbsp;&nbsp;&nbsp;&nbsp; Team Health Holdings, Inc.\*<br> 6.375%, 02/01/25 | 836043 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Tenet Healthcare Corp. |  |
| 2710000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 02/01/27 | 2658374 |
| 1575000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 11/15/31 | 1459946 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III, BV |  |
| 2380000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 04/15/24 | 2376620 |
| 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 05/09/27 | 1023682 |
| 550000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 01/31/25 | 558052 |
| 535000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 10/01/26 | 480286 |
|  |  | 27429576 |
|  | ***Industrials (2.7%)*** |  |
| 1355000 | &nbsp;&nbsp;&nbsp;&nbsp; ACCO Brands Corp.\* 4.250%, 03/15/29 | 1173213 |
| 1535000 | &nbsp;&nbsp;&nbsp;&nbsp; AerCap Holdings, NV‡<br> 5.875%, 10/10/79<br> 5 year CMT + 4.54% | 1470131 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Air Lease Corp.‡ |  |
| 1520000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 12/15/26 5 year CMT + 3.15% | 1182180 |
| 320000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 06/15/26 5 year CMT + 4.08% | 284467 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Strategic Total Return Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL <br>AMOUNT** | | **VALUE** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Albertsons Companies, Inc. / Safeway, Inc. / New Albertsons, LP / Albertsons, LLC\* |  |
| 1925000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 01/15/27 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1831714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1191000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/15/29 | 1028024 |
| 900000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 02/15/28 | 880767 |
| 1370000 | &nbsp;&nbsp;&nbsp;&nbsp; Allegiant Travel Company\*<br> 7.250%, 08/15/27 | 1344888 |
| 295000 | &nbsp;&nbsp;&nbsp;&nbsp; American Airlines Group, Inc.\*^<br> 3.750%, 03/01/25 | 276046 |
| 1363740 | &nbsp;&nbsp;&nbsp;&nbsp; American Airlines Pass Through Trust<br> Series 2021-1, Class B<br> 3.950%, 01/11/32 | 1156615 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; American Airlines, Inc. / AAdvantage Loyalty IP, Ltd.\* |  |
| 884000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 04/20/26 | 867646 |
| 295000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 04/20/29 | 285849 |
| 670000 | &nbsp;&nbsp;&nbsp;&nbsp; Arcosa, Inc.\*<br> 4.375%, 04/15/29 | 599074 |
| 3100000 | &nbsp;&nbsp;&nbsp;&nbsp; ARD Finance, SA\*<br> 6.500%, 06/30/27<br> 7.250% PIK rate | 2436073 |
| 465000 | &nbsp;&nbsp;&nbsp;&nbsp; Ball Corp.<br> 6.875%, 03/15/28 | 480373 |
| 937000 | &nbsp;&nbsp;&nbsp;&nbsp; Beacon Roofing Supply, Inc.\*<br> 4.125%, 05/15/29 | 807975 |
| 1191000 | &nbsp;&nbsp;&nbsp;&nbsp; BWX Technologies, Inc.\*<br> 4.125%, 04/15/29 | 1077891 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Cascades, Inc. / Cascades USA, Inc.\* |  |
| 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 01/15/28 | 560220 |
| 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 01/15/26 | 561804 |
| 297000 | &nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines, Inc.^<br> 7.375%, 01/15/26 | 311036 |
| 295000 | &nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines, Inc. / SkyMiles IP, Ltd.\*<br> 4.750%, 10/20/28 | 287047 |
| 1565000 | &nbsp;&nbsp;&nbsp;&nbsp; Deluxe Corp.\*<br> 8.000%, 06/01/29 | 1341956 |
| 596000 | &nbsp;&nbsp;&nbsp;&nbsp; Dun & Bradstreet Corp.\*<br> 5.000%, 12/15/29 | 532305 |
| 894000 | &nbsp;&nbsp;&nbsp;&nbsp; Eco Material Technologies, Inc.\*<br> 7.875%, 01/31/27 | 861807 |
| 1472000 | &nbsp;&nbsp;&nbsp;&nbsp; Endurance International Group Holdings, Inc.\*<br> 6.000%, 02/15/29 | 1069084 |
| 575000 | &nbsp;&nbsp;&nbsp;&nbsp; EnerSys\*<br> 4.375%, 12/15/27 | 531749 |
| 880000 | &nbsp;&nbsp;&nbsp;&nbsp; Fly Leasing, Ltd.\*<br> 7.000%, 10/15/24 | 767422 |
| 733000 | &nbsp;&nbsp;&nbsp;&nbsp; Graham Packaging Company, Inc.\*<br> 7.125%, 08/15/28 | 645201 |
| 600000 | &nbsp;&nbsp;&nbsp;&nbsp; Granite US Holdings Corp.\*<br> 11.000%, 10/01/27 | 633252 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Graphic Packaging International, LLC\* |  |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 07/15/27 | 722700 |
| 551000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/01/29 | 485767 |
| 1303000 | &nbsp;&nbsp;&nbsp;&nbsp; Great Lakes Dredge & Dock Corp.\*<br> 5.250%, 06/01/29 | 1100410 |
| 2775000 | &nbsp;&nbsp;&nbsp;&nbsp; H&E Equipment Services, Inc.\*<br> 3.875%, 12/15/28 | 2450602 |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL <br>AMOUNT** | | **VALUE** |
| 1792000 | &nbsp;&nbsp;&nbsp;&nbsp; Hawaiian Brand Intellectual Property, Ltd. / HawaiianMiles Loyalty, Ltd.\*<br> 5.750%, 01/20/26 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1714747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp; Herc Holdings, Inc.\*<br> 5.500%, 07/15/27 | 1439010 |
| 1375000 | &nbsp;&nbsp;&nbsp;&nbsp; Howmet Aerospace, Inc.<br> 5.125%, 10/01/24 | 1373322 |
| 1385000 | &nbsp;&nbsp;&nbsp;&nbsp; IEA Energy Services, LLC\*<br> 6.625%, 08/15/29 | 1360735 |
| 1450000 | &nbsp;&nbsp;&nbsp;&nbsp; JELD-WEN, Inc.\*<br> 4.625%, 12/15/25 | 1284975 |
| 1940000 | &nbsp;&nbsp;&nbsp;&nbsp; Ken Garff Automotive, LLC\*<br> 4.875%, 09/15/28 | 1673347 |
| 598000 | &nbsp;&nbsp;&nbsp;&nbsp; MasTec, Inc.\*<br> 4.500%, 08/15/28 | 554711 |
| 722000 | &nbsp;&nbsp;&nbsp;&nbsp; Moog, Inc.\*<br> 4.250%, 12/15/27 | 670261 |
| 1140000 | &nbsp;&nbsp;&nbsp;&nbsp; Novelis Corp.\*<br> 4.750%, 01/30/30 | 1043248 |
| 450000 | &nbsp;&nbsp;&nbsp;&nbsp; OI European Group, BV\*<br> 4.750%, 02/15/30 | 404951 |
| 1375000 | &nbsp;&nbsp;&nbsp;&nbsp; Pactiv Evergreen Group Issuer, Inc. / Pactiv Evergreen Group Issuer, LLC\*<br> 4.000%, 10/15/27 | 1237651 |
| 1783000 | &nbsp;&nbsp;&nbsp;&nbsp; Patrick Industries, Inc.\*<br> 4.750%, 05/01/29 | 1525749 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; QVC, Inc. |  |
| 709000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 09/01/28 | 455852 |
| 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 08/15/34 | 354810 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Sealed Air Corp.\* |  |
| 933000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 02/01/28 | 942050 |
| 298000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/15/29 | 282868 |
| 650000 | &nbsp;&nbsp;&nbsp;&nbsp; Sensata Technologies, BV\*<br> 4.000%, 04/15/29 | 583934 |
| 593000 | &nbsp;&nbsp;&nbsp;&nbsp; Sensata Technologies, Inc.\*<br> 3.750%, 02/15/31 | 507614 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Sinclair Television Group, Inc.\* |  |
| 891000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 12/01/30 | 709361 |
| 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/01/30^ | 479208 |
| 1165000 | &nbsp;&nbsp;&nbsp;&nbsp; Standard Industries, Inc.\*<br> 5.000%, 02/15/27 | 1110781 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Stanley Black & Decker, Inc.‡<br> 4.000%, 03/15/60<br> 5 year CMT + 2.66% | 88013 |
| 957000 | &nbsp;&nbsp;&nbsp;&nbsp; Stericycle, Inc.\*<br> 3.875%, 01/15/29 | 851730 |
| 879000 | &nbsp;&nbsp;&nbsp;&nbsp; STL Holding Company, LLC\*<br> 7.500%, 02/15/26 | 776561 |
| 1200000 | &nbsp;&nbsp;&nbsp;&nbsp; TransDigm UK Holdings, PLC<br> 6.875%, 05/15/26 | 1190628 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TransDigm, Inc. |  |
| 1539000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 03/15/26\* | 1540000 |
| 875000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 03/15/27 | 882473 |
| 890000 | &nbsp;&nbsp;&nbsp;&nbsp; Tronox, Inc.\*<br> 4.625%, 03/15/29 | 762267 |
| 1191000 | &nbsp;&nbsp;&nbsp;&nbsp; Vertiv Group Corp.\*<br> 4.125%, 11/15/28 | 1039112 |
| 1251000 | &nbsp;&nbsp;&nbsp;&nbsp; Wabash National Corp.\*<br> 4.500%, 10/15/28 | 1102957 |
| 1050000 | &nbsp;&nbsp;&nbsp;&nbsp; Waste Pro USA, Inc.\*<br> 5.500%, 02/15/26 | 977687 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WESCO Distribution, Inc.\* |  |
| 563000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 06/15/25 | 572351 |
| 283000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 06/15/28 | 291278 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Strategic Total Return Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL <br>AMOUNT** | | **VALUE** |
| 1256000 | &nbsp;&nbsp;&nbsp;&nbsp; Williams Scotsman International, Inc.\*<br> 6.125%, 06/15/25 | $1262242 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61091772 |
|  | ***Information Technology (0.8%)*** |  |
| 596000 | &nbsp;&nbsp;&nbsp;&nbsp; Booz Allen Hamilton, Inc.\*<br> 4.000%, 07/01/29 | 535887 |
| 692000 | &nbsp;&nbsp;&nbsp;&nbsp; Coherent Corp.\*<br> 5.000%, 12/15/29 | 633796 |
| 1201000 | &nbsp;&nbsp;&nbsp;&nbsp; CommScope Technologies, LLC\*<br> 6.000%, 06/15/25 | 1139136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100000 | &nbsp;&nbsp;&nbsp;&nbsp; CommScope, Inc.\*<br> 4.750%, 09/01/29 | 915959 |
| 1405000 | &nbsp;&nbsp;&nbsp;&nbsp; Dell International, LLC / EMC Corp.<br> 6.020%, 06/15/26 | 1445773 |
| 586000 | &nbsp;&nbsp;&nbsp;&nbsp; Fair Isaac Corp.\*<br> 4.000%, 06/15/28 | 544845 |
| 1315000 | &nbsp;&nbsp;&nbsp;&nbsp; KBR, Inc.\*<br> 4.750%, 09/30/28 | 1200845 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MPH Acquisition Holdings, LLC\* |  |
| 1300000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 11/01/28^ | 946153 |
| 595000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/01/28 | 495570 |
| 589000 | &nbsp;&nbsp;&nbsp;&nbsp; NCR Corp.\*<br> 5.125%, 04/15/29 | 513025 |
| 886000 | &nbsp;&nbsp;&nbsp;&nbsp; ON Semiconductor Corp.\*<br> 3.875%, 09/01/28 | 809131 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Open Text Corp.\* |  |
| 855000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 02/15/28 | 744012 |
| 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.900%, 12/01/27 | 615360 |
| 447000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 12/01/29 | 372601 |
| 447000 | &nbsp;&nbsp;&nbsp;&nbsp; Open Text Holdings, Inc.\*<br> 4.125%, 12/01/31 | 363804 |
| 590000 | &nbsp;&nbsp;&nbsp;&nbsp; Playtika Holding Corp.\*<br> 4.250%, 03/15/29 | 490615 |
| 784000 | &nbsp;&nbsp;&nbsp;&nbsp; PTC, Inc.\*<br> 4.000%, 02/15/28 | 731104 |
| 1645000 | &nbsp;&nbsp;&nbsp;&nbsp; TTM Technologies, Inc.\*<br> 4.000%, 03/01/29 | 1437977 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Twilio, Inc. |  |
| 830000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 03/15/29 | 705857 |
| 298000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 03/15/31^ | 247361 |
| 1475000 | &nbsp;&nbsp;&nbsp;&nbsp; Viavi Solutions, Inc.\*<br> 3.750%, 10/01/29 | 1287527 |
| 1355000 | &nbsp;&nbsp;&nbsp;&nbsp; ZoomInfo Technologies, LLC / ZoomInfo Finance Corp.\*<br> 3.875%, 02/01/29 | 1170110 |
|  |  | 17346448 |
|  | ***Materials (0.6%)*** |  |
| 623000 | &nbsp;&nbsp;&nbsp;&nbsp; ArcelorMittal, SA<br> 7.000%, 10/15/39 | 674672 |
| 600000 | &nbsp;&nbsp;&nbsp;&nbsp; ATI, Inc.<br> 5.875%, 12/01/27 | 582978 |
| 295000 | &nbsp;&nbsp;&nbsp;&nbsp; Carpenter Technology Corp.<br> 7.625%, 03/15/30 | 303127 |
| 895000 | &nbsp;&nbsp;&nbsp;&nbsp; Chemours Company\*<br> 4.625%, 11/15/29 | 748309 |
| 1880000 | &nbsp;&nbsp;&nbsp;&nbsp; Clearwater Paper Corp.\*<br> 4.750%, 08/15/28 | 1682675 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Commercial Metals Company |  |
| 596000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 01/15/30 | 535268 |
| 298000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 03/15/32 | 263909 |
| 1375000 | &nbsp;&nbsp;&nbsp;&nbsp; Constellium, SE\*^<br> 3.750%, 04/15/29 | 1177165 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL <br>AMOUNT** | | **VALUE** | **VALUE** | **VALUE** |
| 886000 | &nbsp;&nbsp;&nbsp;&nbsp; HB Fuller Company<br> 4.250%, 10/15/28 | $| 785607 |  |
| 900000 | &nbsp;&nbsp;&nbsp;&nbsp; JW Aluminum Continuous Cast Company\*<br> 10.250%, 06/01/26 |  | 915093 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Kaiser Aluminum Corp.\* |  |  |  |
| 1350000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 03/01/28 |  | 1235682 |  |
| 149000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 06/01/31 |  | 126252 |  |
| 842000 | &nbsp;&nbsp;&nbsp;&nbsp; LSF11 A5 HoldCo, LLC\*<br> 6.625%, 10/15/29 |  | 703280 |  |
| 1257000 | &nbsp;&nbsp;&nbsp;&nbsp; Mercer International, Inc.<br> 5.125%, 02/01/29 |  | 1076771 |  |
| 1787000 | &nbsp;&nbsp;&nbsp;&nbsp; Owens-Brockway Glass Container, Inc.\*^<br> 6.625%, 05/13/27 |  | 1759373 |  |
| 1328000 | &nbsp;&nbsp;&nbsp;&nbsp; Silgan Holdings, Inc.<br> 4.125%, 02/01/28 |  | 1242517 |  |
| 589000 | &nbsp;&nbsp;&nbsp;&nbsp; Trinseo Materials Operating SCA / Trinseo Materials Finance, Inc.\*<br> 5.125%, 04/01/29 |  | 426118 |  |
| 321000 | &nbsp;&nbsp;&nbsp;&nbsp; Univar Solutions USA, Inc.\*<br> 5.125%, 12/01/27 |  | 312250 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14551046 |  |
|  | ***Other (0.1%)*** |  |  |  |
| 1335000 | &nbsp;&nbsp;&nbsp;&nbsp; 1375209 B.C., Ltd.\*<br> 9.000%, 01/30/28 |  | 1331476 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Gen Digital, Inc.\* |  |  |  |
| 625000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 09/30/30 |  | 635056 |  |
| 625000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 09/30/27 |  | 634631 |  |
|  |  |  | 2601163 |  |
|  | ***Real Estate (0.2%)*** |  |  |  |
| 953000 | &nbsp;&nbsp;&nbsp;&nbsp; EPR Properties<br> 3.750%, 08/15/29 |  | 796241 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Forestar Group, Inc.\* |  |  |  |
| 862000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/01/28 |  | 758120 |  |
| 630000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 05/15/26 |  | 565331 |  |
| 1341000 | &nbsp;&nbsp;&nbsp;&nbsp; MIWD Holdco II, LLC / MIWD Finance Corp.\*<br> 5.500%, 02/01/30 |  | 1117361 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Service Properties Trust |  |  |  |
| 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 10/01/24 |  | 1415610 |  |
| 550000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 02/15/26 |  | 477098 |  |
|  |  |  | 5129761 |  |
|  | ***Special Purpose Acquisition Companies (0.1%)*** | ***Special Purpose Acquisition Companies (0.1%)*** | ***Special Purpose Acquisition Companies (0.1%)*** | **** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Fertitta Entertainment, LLC / Fertitta Entertainment Finance Company, Inc.\* |  |  |  |
| 1195000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 01/15/30 |  | 993427 |  |
| 596000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 01/15/29 |  | 526429 |  |
|  |  |  | 1519856 |  |
|  | ***Utilities (0.2%)*** |  |  |  |
| 340000 | &nbsp;&nbsp;&nbsp;&nbsp; Algonquin Power & Utilities Corp.‡<br> 4.750%, 01/18/82<br> 5 year CMT + 3.25% |  | 286783 |  |
| 65000 | &nbsp;&nbsp;&nbsp;&nbsp; CenterPoint Energy, Inc.‡<br> 6.125%, 09/01/23<br> 3 mo. LIBOR + 3.27% |  | 63960 |  |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; CMS Energy Corp.‡<br> 4.750%, 06/01/50<br> 5 year CMT + 4.12% |  | 136593 |  |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Strategic Total Return Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL <br>AMOUNT** | | **VALUE** | **VALUE** | **VALUE** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Dominion Energy, Inc.‡ |  |  |  |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 12/15/24<br> 5 year CMT + 2.99% | $| 234450 |  |
| 133000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 01/15/27<br> 5 year CMT + 3.20% |  | 118540 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Duke Energy Corp.‡ |  |  |  |
| 330000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 09/16/24<br> 5 year CMT + 3.39% |  | 320189 |  |
| 132000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 01/15/82<br> 5 year CMT + 2.32% |  | 107691 |  |
| 280000 | &nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings, Inc.‡<br> 3.800%, 03/15/82<br> 5 year CMT + 2.55% |  | 244407 |  |
| 516000 | &nbsp;&nbsp;&nbsp;&nbsp; PPL Capital Funding, Inc.‡<br> 7.395%, 03/30/67<br> 3 mo. LIBOR + 2.67% |  | 454328 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Sempra Energy‡ |  |  |  |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 10/15/25<br> 5 year CMT + 4.55% |  | 120186 |  |
| 85000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 04/01/52<br> 5 year CMT + 2.87% |  | 73948 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Southern Company‡ |  |  |  |
| 247000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 01/15/51<br> 5 year CMT + 3.73% |  | 235235 |  |
| 95000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 09/15/51<br> 5 year CMT + 2.92% |  | 83422 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp; TerraForm Power Operating, LLC\*<br> 5.000%, 01/31/28 |  | 1411395 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Vistra Corp.\*‡ |  |  |  |
| 695000 | &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 10/15/26<br> 5 year CMT + 6.93% |  | 681830 |  |
| 625000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 12/15/26<br> 5 year CMT + 5.74% |  | 589875 |  |
| 80000 | &nbsp;&nbsp;&nbsp;&nbsp; WEC Energy Group, Inc.‡<br> 6.719%, 05/15/67<br> 3 mo. LIBOR + 2.11% |  | 68503 |  |
|  |  |  | 5231335 |  |
|  | **TOTAL CORPORATE BONDS**<br> (Cost $457,460,762) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410150937 |  |
| **CONVERTIBLE BONDS (18.5%)** | **CONVERTIBLE BONDS (18.5%)** | **CONVERTIBLE BONDS (18.5%)** | **CONVERTIBLE BONDS (18.5%)** |  |
|  | ***Communication Services (1.8%)*** | ***Communication Services (1.8%)*** | ***Communication Services (1.8%)*** | **** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Liberty Media Corp.\* |  |  |  |
| 8895000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 08/15/27 |  | 9356028 |  |
| 2680000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 12/01/50 |  | 2813035 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc.<br> 2.000%, 02/15/25 |  | 17666999 |  |
| 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; Match Group Finance Co. 3, Inc.\*<br> 2.000%, 01/15/30 |  | 2458125 |  |
| 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; Match Group Financeco 2, Inc.\*~<br> 0.875%, 06/15/26 |  | 2887350 |  |
| 5495000 | &nbsp;&nbsp;&nbsp;&nbsp; Perficient, Inc.<br> 0.125%, 11/15/26 |  | 4433915 |  |
|  |  |  | 39615452 |  |
|  | ***Consumer Discretionary (3.8%)*** | ***Consumer Discretionary (3.8%)*** | ***Consumer Discretionary (3.8%)*** | **** |
| 16415000 | &nbsp;&nbsp;&nbsp;&nbsp; Airbnb, Inc.<br> 0.000%, 03/15/26 |  | 14122481 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; DISH Network Corp. |  |  |  |
| 13435000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 08/15/26 |  | 8782056 |  |
| 5295000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 12/15/25 |  | 3518104 |  |
| 2379000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 03/15/24 |  | 2217252 |  |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL <br>AMOUNT** | | **VALUE** |
| 29915000 | &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Company<br> 0.000%, 03/15/26 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30457060 |
| 3140000 | &nbsp;&nbsp;&nbsp;&nbsp; Liberty Broadband Corp.\*<br> 2.750%, 09/30/50 | 3077891 |
| 7670000 | &nbsp;&nbsp;&nbsp;&nbsp; Marriott Vacations Worldwide Corp.<br> 0.000%, 01/15/26 | 8288662 |
| 400000 | &nbsp;&nbsp;&nbsp;&nbsp; Tesla, Inc.<br> 2.000%, 05/15/24 | 3346112 |
| 9760000 | &nbsp;&nbsp;&nbsp;&nbsp; Vail Resorts, Inc.^ 0.000%, 01/01/26 | 9290544 |
| 18000000 HKD | &nbsp;&nbsp;&nbsp;&nbsp; Zhongsheng Group Holdings, Ltd. 0.000%, 05/21/25 | 2728482 |
|  |  | 85828644 |
|  | ***Energy (0.5%)*** |  |
| 1365000 | &nbsp;&nbsp;&nbsp;&nbsp; EQT Corp.<br> 1.750%, 05/01/26 | 3071086 |
| 6615000 | &nbsp;&nbsp;&nbsp;&nbsp; Northern Oil And Gas, Inc.\*<br> 3.625%, 04/15/29 | 7559424 |
|  |  | 10630510 |
|  | ***Financials (0.7%)*** |  |
| 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; Ares Capital Corp.<br> 4.625%, 03/01/24 | 3159120 |
| 11275000 | &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Finance, LLC<br> 1.000%, 11/23/27 | 11909219 |
|  |  | 15068339 |
|  | ***Health Care (3.2%)*** |  |
| 8820000 | &nbsp;&nbsp;&nbsp;&nbsp; Alnylam Pharmaceuticals, Inc.\*<br> 1.000%, 09/15/27 | 9435636 |
| 4640000 | &nbsp;&nbsp;&nbsp;&nbsp; CONMED Corp.\*<br> 2.250%, 06/15/27 | 4412454 |
| 16530000 | &nbsp;&nbsp;&nbsp;&nbsp; Dexcom, Inc.<br> 0.250%, 11/15/25 | 17426752 |
| 3673000 | &nbsp;&nbsp;&nbsp;&nbsp; Envista Holdings Corp.<br> 2.375%, 06/01/25 | 7021564 |
| 3960000 | &nbsp;&nbsp;&nbsp;&nbsp; Integra LifeSciences Holdings Corp.<br> 0.500%, 08/15/25 | 3870742 |
| 15740000 | &nbsp;&nbsp;&nbsp;&nbsp; Jazz Investments I, Ltd.<br> 2.000%, 06/15/26 | 18564543 |
| 7755000 | &nbsp;&nbsp;&nbsp;&nbsp; Pacira BioSciences, Inc.<br> 0.750%, 08/01/25 | 7130723 |
| 5460000 | &nbsp;&nbsp;&nbsp;&nbsp; Tandem Diabetes Care, Inc.\*<br> 1.500%, 05/01/25 | 4988474 |
|  |  | 72850888 |
|  | ***Industrials (2.4%)*** |  |
| 4600000 | &nbsp;&nbsp;&nbsp;&nbsp; Air Transport Services Group, Inc.<br> 1.125%, 10/15/24 | 4879220 |
| 4215000 | &nbsp;&nbsp;&nbsp;&nbsp; Axon Enterprise, Inc.\*<br> 0.500%, 12/15/27 | 4550219 |
| 1015000 | &nbsp;&nbsp;&nbsp;&nbsp; Chart Industries, Inc.<br> 1.000%, 11/15/24 | 2313296 |
| 13520000 | &nbsp;&nbsp;&nbsp;&nbsp; John Bean Technologies Corp.<br> 0.250%, 05/15/26 | 12526145 |
| 11905000 | &nbsp;&nbsp;&nbsp;&nbsp; Middleby Corp.<br> 1.000%, 09/01/25 | 15561978 |
| 14800000 | &nbsp;&nbsp;&nbsp;&nbsp; Uber Technologies, Inc.<br> 0.000%, 12/15/25 | 12908560 |
|  |  | 52739418 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Strategic Total Return Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**PRINCIPAL** <br> **AMOUNT** | | **VALUE** | |
|  | ***Information Technology (5.0%)*** | ***Information Technology (5.0%)*** | **** |
| 4230000 | &nbsp;&nbsp;&nbsp;&nbsp; Akamai Technologies, Inc.<br> 0.375%, 09/01/27 | $4210161 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Bill.com Holdings, Inc. |  |  |
| 7838000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 04/01/27 | 6347134 |  |
| 3535000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 12/01/25 | 3712881 |  |
| 17000000 | &nbsp;&nbsp;&nbsp;&nbsp; CyberArk Software, Ltd.<br> 0.000%, 11/15/24 | 18736040 |  |
| 2015000 | &nbsp;&nbsp;&nbsp;&nbsp; Datadog, Inc.<br> 0.125%, 06/15/25 | 2210737 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Enphase Energy, Inc. |  |  |
| 12325000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 03/01/28 | 13294485 |  |
| 7055000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 03/01/26 | 7443942 |  |
| 13000000 | &nbsp;&nbsp;&nbsp;&nbsp; Microchip Technology, Inc.<br> 0.125%, 11/15/24 | 14438840 |  |
| 2735000 | &nbsp;&nbsp;&nbsp;&nbsp; Nova, Ltd.<br> 0.000%, 10/15/25 | 3604539 |  |
| 11555000 | &nbsp;&nbsp;&nbsp;&nbsp; ON Semiconductor Corp.<br> 0.000%, 05/01/27 | 17332500 |  |
| 3520000 | &nbsp;&nbsp;&nbsp;&nbsp; Palo Alto Networks, Inc.<br> 0.375%, 06/01/25 | 5780967 |  |
| 3524000 | &nbsp;&nbsp;&nbsp;&nbsp; Silicon Laboratories, Inc.<br> 0.625%, 06/15/25 | 4849658 |  |
| 5850000 | &nbsp;&nbsp;&nbsp;&nbsp; Tyler Technologies, Inc.<br> 0.250%, 03/15/26 | 5561127 |  |
| 5670000 | &nbsp;&nbsp;&nbsp;&nbsp; Wolfspeed, Inc.\*<br> 1.875%, 12/01/29 | 5507214 |  |
|  |  | 113030225 |  |
|  | ***Materials (0.4%)*** |  |  |
| 5800000 | &nbsp;&nbsp;&nbsp;&nbsp; Glencore Funding,<br> LLC 0.000%, 03/27/25 | 6720112 |  |
| 3060000 | &nbsp;&nbsp;&nbsp;&nbsp; MP Materials Corp.\*<br> 0.250%, 04/01/26 | 3063244 |  |
|  |  | 9783356 |  |
|  | ***Other (0.0%)*** |  |  |
| 590000 | &nbsp;&nbsp;&nbsp;&nbsp; Multiplan Corp.\*<br> 6.000%, 10/15/27 | 386067 |  |
|  | ***Real Estate (0.7%)*** |  |  |
| 2,100,000EUR | &nbsp;&nbsp;&nbsp;&nbsp; ANLLIAN Capital, Ltd.<br> 0.000%, 02/05/25 | 2898220 |  |
| 15115000 | &nbsp;&nbsp;&nbsp;&nbsp; Pebblebrook Hotel Trust<br> 1.750%, 12/15/26 | 13724571 |  |
|  |  | 16622791 |  |
|  | **TOTAL CONVERTIBLE BONDS**<br> (Cost $429,003,386) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416555690 |  |
| **BANK LOANS (2.3%) ¡** | **BANK LOANS (2.3%) ¡** |  |  |
|  | ***Airlines (0.1%)*** |  |  |
| 1098000 | &nbsp;&nbsp;&nbsp;&nbsp; Mileage Plus Holdings, LLC‡<br> 9.996%, 06/21/27<br> 3 mo. LIBOR + 5.25% | 1146658 |  |
| 1473750 | &nbsp;&nbsp;&nbsp;&nbsp; United Airlines, Inc.‡<br> 8.568%, 04/21/28<br> 3 mo. LIBOR + 3.75% | 1476498 |  |
|  |  | 2623156 |  |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**PRINCIPAL** <br> **AMOUNT** | | **VALUE** |
|  | ***Communication Services (0.3%)*** |  |
| 1519875 | &nbsp;&nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc.‡<br> 8.325%, 08/21/26<br> 3 mo. LIBOR + 3.50% | $1449581 |
| 3938 | &nbsp;&nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc.‡<br> 8.070%, 08/21/26<br> 1 mo. LIBOR + 3.50% | 3755 |
| 598473 | &nbsp;&nbsp;&nbsp;&nbsp; CMG Media Corp.‡<br> 8.230%, 12/17/26<br> 3 mo. LIBOR + 3.50% | 569238 |
| 1688406 | &nbsp;&nbsp;&nbsp;&nbsp; DIRECTV Financing, LLC‡<br> 9.570%, 08/02/27<br> 1 mo. LIBOR + 5.00% | 1664228 |
| 1755000 | &nbsp;&nbsp;&nbsp;&nbsp; Entercom Media Corp.‡<br> 7.047%, 11/18/24<br> 3 mo. LIBOR + 2.50% | 1265425 |
| 330644 | &nbsp;&nbsp;&nbsp;&nbsp; Nexstar Broadcasting, Inc.‡<br> 7.070%, 09/18/26<br> 1 mo. LIBOR + 2.50% | 331195 |
| 601975 | &nbsp;&nbsp;&nbsp;&nbsp; Univision Communications, Inc.‡<br> 8.830%, 06/24/29<br> 3 mo. SOFR + 4.25% | 602728 |
|  |  | 5886150 |
|  | ***Consumer Discretionary (0.4%)*** |  |
| 600000 | &nbsp;&nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc.!<br> 0.000%, 01/20/30 | 600216 |
| 402390 | &nbsp;&nbsp;&nbsp;&nbsp; Life Time Fitness, Inc.‡<br> 9.485%, 12/16/24<br> 3 mo. LIBOR + 4.75% | 403346 |
| 608940 | &nbsp;&nbsp;&nbsp;&nbsp; Penn National Gaming, Inc.‡<br> 7.411%, 05/03/29<br> 1 mo. SOFR + 2.75% | 609278 |
| 2063250 | &nbsp;&nbsp;&nbsp;&nbsp; Petco Health and Wellness Company, Inc.‡<br> 7.976%, 03/03/28<br> 3 mo. SOFR + 3.25% | 2045310 |
| 2971318 | &nbsp;&nbsp;&nbsp;&nbsp; PetSmart, Inc.‡<br> 8.411%, 02/11/28<br> 1 mo. SOFR + 3.75% | 2955228 |
| 1235000 | &nbsp;&nbsp;&nbsp;&nbsp; SkyMiles IP, Ltd.‡<br> 8.558%, 10/20/27<br> 3 mo. LIBOR + 3.75% | 1279312 |
| 758108 | &nbsp;&nbsp;&nbsp;&nbsp; TKC Holdings, Inc.‡<br> 10.070%, 05/15/28<br> 1 mo. LIBOR + 5.50% | 636493 |
| 1975050 | &nbsp;&nbsp;&nbsp;&nbsp; WW International, Inc.‡<br> 8.070%, 04/13/28<br> 1 mo. LIBOR + 3.50% | 1186669 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9715852 |
|  | ***Financials (0.3%)*** |  |
| 1182023 | &nbsp;&nbsp;&nbsp;&nbsp; AssuredPartners, Inc.!<br> 0.000%, 02/12/27 | 1170758 |
| 1225000 | &nbsp;&nbsp;&nbsp;&nbsp; Hub International, Ltd.‡<br> 8.220%, 11/10/29<br> 3 mo. SOFR + 4.00% | 1225955 |
| 2176153 | &nbsp;&nbsp;&nbsp;&nbsp; Jazz Financing Lux Sarl‡<br> 8.070%, 05/05/28<br> 1 mo. LIBOR + 3.50% | 2176491 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Strategic Total Return Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL <br> AMOUNT** | | **VALUE** |
| 1633500 | &nbsp;&nbsp;&nbsp;&nbsp; VFH Parent, LLC‡<br> 7.612%, 01/13/29 3 mo. SOFR + 3.00% | $1628395 |
|  |  | 6201599 |
|  | ***Health Care (0.3%)*** |  |
| 1060117 | &nbsp;&nbsp;&nbsp;&nbsp; Amneal Pharmaceuticals, LLC‡<br> 8.125%, 05/04/25 1 mo. LIBOR + 3.50% | 1002033 |
| 1030658 | &nbsp;&nbsp;&nbsp;&nbsp; Amneal Pharmaceuticals, LLC‡<br> 8.250%, 05/04/25<br> 3 mo. LIBOR + 3.50% | 974189 |
| 292500 | &nbsp;&nbsp;&nbsp;&nbsp; Bausch Health Companies, Inc.‡<br> 9.828%, 02/01/27<br> 1 mo. SOFR + 5.25% | 226373 |
| 777543 | &nbsp;&nbsp;&nbsp;&nbsp; Icon Luxembourg Sarl‡<br> 7.000%, 07/03/28<br> 3 mo. LIBOR + 2.25% | 778519 |
| 1132409 | &nbsp;&nbsp;&nbsp;&nbsp; Mallinckrodt International Finance, SA‡<br> 9.986%, 09/30/27<br> 3 mo. LIBOR + 5.25% | 872017 |
| 1261176 | &nbsp;&nbsp;&nbsp;&nbsp; Padagis, LLC‡<br> 9.538%, 07/06/28<br> 3 mo. LIBOR + 4.75% | 1177100 |
| 193725 | &nbsp;&nbsp;&nbsp;&nbsp; PRA Health Sciences, Inc.‡<br> 7.000%, 07/03/28<br> 3 mo. LIBOR + 2.25% | 193968 |
| 2911601 | &nbsp;&nbsp;&nbsp;&nbsp; Team Health Holdings, Inc.‡<br> 9.811%, 03/02/27<br> 1 mo. SOFR + 5.25% | 2427547 |
|  |  | 7651746 |
|  | ***Industrials (0.4%)*** |  |
| 444000 | &nbsp;&nbsp;&nbsp;&nbsp; ACProducts, Inc.‡<br> 8.980%, 05/17/28<br> 6 mo. LIBOR + 4.25% | 361380 |
| 147000 | &nbsp;&nbsp;&nbsp;&nbsp; ACProducts, Inc.‡<br> 8.980%, 05/17/28<br> 3 mo. LIBOR + 4.25% | 119646 |
| 741275 | &nbsp;&nbsp;&nbsp;&nbsp; Air Canada‡<br> 8.130%, 08/11/28<br> 3 mo. LIBOR + 3.50% | 743258 |
| 990000 | &nbsp;&nbsp;&nbsp;&nbsp; American Airlines, Inc.‡<br> 9.558%, 04/20/28<br> 3 mo. LIBOR + 4.75% | 1018151 |
| 1481288 | &nbsp;&nbsp;&nbsp;&nbsp; ChampionX Corp.‡<br> 7.747%, 06/07/29<br> 1 mo. SOFR + 3.25% | 1483835 |
| 1173250 | &nbsp;&nbsp;&nbsp;&nbsp; Dun & Bradstreet Corp.‡<br> 7.767%, 02/06/26<br> 1 mo. LIBOR + 3.25% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1172728 |
| 1035659 | &nbsp;&nbsp;&nbsp;&nbsp; Granite Holdings US Acquisition Company‡<br> 8.750%, 09/30/26<br> 3 mo. LIBOR + 4.00% | 1036306 |
| 1393000 | &nbsp;&nbsp;&nbsp;&nbsp; Scientific Games International, Inc.‡<br> 7.578%, 04/14/29<br> 1 mo. SOFR + 3.00% | 1393495 |
| 650000 | &nbsp;&nbsp;&nbsp;&nbsp; Summit Materials, LLC‡<br> 7.608%, 12/14/27<br> 3 mo. SOFR + 3.00% | 652574 |
|  |  | 7981373 |

---

---

| | | | |
|:---|:---|:---|:---|
| **PRINCIPAL <br> AMOUNT** | | **VALUE** | **VALUE** |
|  | ***Information Technology (0.2%)*** | ***Information Technology (0.2%)*** | **** |
| 1187122 | &nbsp;&nbsp;&nbsp;&nbsp; Banff Merger Sub, Inc.‡<br> 8.320%, 10/02/25<br> 1 mo. LIBOR + 3.75% | $1168057 |  |
| 1053990 | &nbsp;&nbsp;&nbsp;&nbsp; Camelot U.S. Acquisition, LLC‡<br> 7.517%, 10/30/26<br> 1 mo. LIBOR + 3.00% | 1053858 |  |
| 416679 | &nbsp;&nbsp;&nbsp;&nbsp; Camelot U.S. Acquisition, LLC‡<br> 7.517%, 10/30/26<br> 1 mo. LIBOR + 3.00% | 416875 |  |
| 1175571 | &nbsp;&nbsp;&nbsp;&nbsp; II-VI, Inc.‡<br> 7.320%, 07/02/29<br> 1 mo. LIBOR + 2.75% | 1175201 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3813991 |  |
|  | ***Information Technology (0.0%)*** | ***Information Technology (0.0%)*** | **** |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; CDK Global, Inc.‡<br> 9.080%, 07/06/29<br> 3 mo. SOFR + 4.50% | 299766 |  |
|  | ***Materials (0.1%)*** |  |  |
| 800000 | &nbsp;&nbsp;&nbsp;&nbsp; American Axle and Manufacturing, Inc.‡<br> 8.033%, 12/13/29<br> 1 mo. SOFR + 3.60% | 801332 |  |
| 1485800 | &nbsp;&nbsp;&nbsp;&nbsp; Innophos, Inc.‡<br> 7.820%, 02/05/27<br> 1 mo. LIBOR + 3.25% | 1484871 |  |
| 610000 | &nbsp;&nbsp;&nbsp;&nbsp; LSF11 A5 HoldCo, LLC!<br> 0.000%, 10/15/28 | 596275 |  |
| 595500 | &nbsp;&nbsp;&nbsp;&nbsp; LSF11 A5 HoldCo, LLC‡<br> 8.176%, 10/15/28<br> 1 mo. SOFR + 3.50% | 578877 |  |
|  |  | 3461355 |  |
|  | ***Special Purpose Acquisition Companies (0.2%)*** | ***Special Purpose Acquisition Companies (0.2%)*** | **** |
| 1075000 | &nbsp;&nbsp;&nbsp;&nbsp; AP Core Holdings II, LLC‡<br> 10.070%, 09/01/27<br> 1 mo. LIBOR + 5.50% | 1040063 |  |
| 592025 | &nbsp;&nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings, Inc.‡<br> 8.836%, 04/13/29<br> 1 mo. SOFR + 4.18% | 582576 |  |
| 297750 | &nbsp;&nbsp;&nbsp;&nbsp; Fertitta Entertainment, LLC‡<br> 8.561%, 01/27/29<br> 1 mo. SOFR + 4.00% | 294793 |  |
| 1271813 | &nbsp;&nbsp;&nbsp;&nbsp; Oscar AcquisitionCo, LLC‡<br> 9.180%, 04/29/29<br> 3 mo. SOFR + 4.50% | 1235070 |  |
| 1197000 | &nbsp;&nbsp;&nbsp;&nbsp; Patagonia Holdco, LLC‡<br> 9.960%, 08/01/29<br> 3 mo. SOFR + 5.75% | 1011465 |  |
|  |  | 4163967 |  |
|  | **TOTAL BANK LOANS** |  |  |
|  | (Cost $53,980,827) | 51798955 |  |
| **U.S. GOVERNMENT AND AGENCY SECURITIES (2.9%)** | **U.S. GOVERNMENT AND AGENCY SECURITIES (2.9%)** | **U.S. GOVERNMENT AND AGENCY SECURITIES (2.9%)** |  |
|  | ***Other (2.9%)*** |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; United States Treasury Noteµ |  |  |
| 36945000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 03/31/24 | 35935507 |  |
| 30400000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 05/31/24 | 29577656 |  |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Strategic Total Return Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **TOTAL U.S. GOVERNMENT**<br> **AND AGENCY SECURITIES**<br> (Cost $67,259,904) | $65513163 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**NUMBER OF** <br> **SHARES** |  | **VALUE** | **VALUE** |
| **CONVERTIBLE PREFERRED STOCKS (6.9%)** | **CONVERTIBLE PREFERRED STOCKS (6.9%)** | **CONVERTIBLE PREFERRED STOCKS (6.9%)** |  |
|  | ***Communication Services (1.7%)*** | ***Communication Services (1.7%)*** | **** |
| 31975 | &nbsp;&nbsp;&nbsp;&nbsp; T-Mobile Exchangeable Trust\* 5.250%, 06/01/23 | 38542025 |  |
| 5625 | &nbsp;&nbsp;&nbsp;&nbsp; United States Cellular Corp.<br> 5.500%, 06/01/70 | 105244 |  |
|  |  | 38647269 |  |
|  | ***Consumer Discretionary (0.7%)*** | ***Consumer Discretionary (0.7%)*** | **** |
| 127510 | &nbsp;&nbsp;&nbsp;&nbsp; Aptiv, PLC<br> 5.500%, 06/15/23 | 16064985 |  |
|  | ***Energy (0.0%)*** |  |  |
| 28 | &nbsp;&nbsp;&nbsp;&nbsp; Gulfport Energy Corp.<br> 10.000%, 03/03/23<br> 15.000% PIK rate | 163800 |  |
|  | ***Financials (0.8%)*** |  |  |
| 80250 | &nbsp;&nbsp;&nbsp;&nbsp; AMG Capital Trust II<br> 5.150%, 10/15/37 | 4245867 |  |
| 1450 | &nbsp;&nbsp;&nbsp;&nbsp; Bank OZK<br> 4.625%, 11/15/26 | 27188 |  |
| 5542 | &nbsp;&nbsp;&nbsp;&nbsp; KeyCorp‡<br> 6.200%, 12/15/27<br> 5 year CMT + 3.13% | 142041 |  |
| 191800 | &nbsp;&nbsp;&nbsp;&nbsp; KKR & Company, Inc.<br> 6.000%, 09/15/23 | 12958008 |  |
| 11100 | &nbsp;&nbsp;&nbsp;&nbsp; Reinsurance Group of America, Inc.‡<br> 7.125%, 10/15/52<br> 5 year CMT + 3.46% | 295704 |  |
|  |  | 17668808 |  |
|  | ***Health Care (0.4%)*** |  |  |
| 85355 | &nbsp;&nbsp;&nbsp;&nbsp; Boston Scientific Corp.<br> 5.500%, 06/01/23 | 9741566 |  |
|  | ***Industrials (0.1%)*** |  |  |
| 46187 | &nbsp;&nbsp;&nbsp;&nbsp; Chart Industries, Inc.<br> 6.750%, 12/15/25 | 2627578 |  |
|  | ***Utilities (3.2%)*** |  |  |
| 209525 | &nbsp;&nbsp;&nbsp;&nbsp; AES Corp.^<br> 6.875%, 02/15/24 | 20918976 |  |
| 586575 | &nbsp;&nbsp;&nbsp;&nbsp; American Electric Power Company, Inc.^<br> 6.125%, 08/15/23 | 30179284 |  |
| 84885 | &nbsp;&nbsp;&nbsp;&nbsp; CenterPoint Energy, Inc. (Warner Media, LLC, Charter Communications Time, Inc.)§\*\*\*\*<br> 3.369%, 09/15/29 | 3559228 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy, Inc. |  |  |
| 262050 | &nbsp;&nbsp;&nbsp;&nbsp; 6.926%, 09/01/25 | 12565298 |  |
| 94060 | &nbsp;&nbsp;&nbsp;&nbsp; 6.219%, 09/01/23 | 4504533 |  |
|  |  | 71727319 |  |
|  | **TOTAL CONVERTIBLE**<br> **PREFERRED STOCKS**<br> (Cost $149,032,189) | 156641325 |  |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**NUMBER OF** <br> **SHARES** | | **VALUE** | **VALUE** |
| **COMMON STOCKS (91.5%)** | **COMMON STOCKS (91.5%)** | **COMMON STOCKS (91.5%)** |  |
|  | ***Communication Services (7.0%)*** | ***Communication Services (7.0%)*** | **** |
| 661840 | &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc. - Class A^# | $65416266 |  |
| 199700 | &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc. - Class C# | 19944039 |  |
| 25095 | &nbsp;&nbsp;&nbsp;&nbsp; Altice USA, Inc. - Class A# | 122966 |  |
| 264885 | &nbsp;&nbsp;&nbsp;&nbsp; AT&T, Inc. | 5395707 |  |
| 411425 | &nbsp;&nbsp;&nbsp;&nbsp; Comcast Corp. - Class A | 16189574 |  |
| 8434 | &nbsp;&nbsp;&nbsp;&nbsp; Cumulus Media, Inc. - Class A# | 56508 |  |
| 2 | &nbsp;&nbsp;&nbsp;&nbsp; Frontier Communications Parent, Inc.# | 59 |  |
| 146450 | &nbsp;&nbsp;&nbsp;&nbsp; Meta Platforms, Inc. - Class A^~# | 21816656 |  |
| 32360 | &nbsp;&nbsp;&nbsp;&nbsp; Netflix, Inc.# | 11450910 |  |
| 205,085EUR | &nbsp;&nbsp;&nbsp;&nbsp; Orange, SA | 2170363 |  |
| 149335 | &nbsp;&nbsp;&nbsp;&nbsp; Walt Disney Company^# | 16201354 |  |
|  |  | 158764402 |  |
|  | ***Consumer Discretionary (10.1%)*** | ***Consumer Discretionary (10.1%)*** | **** |
| 652300 | &nbsp;&nbsp;&nbsp;&nbsp; Amazon.com, Inc.^# | 67271699 |  |
| 4520 | &nbsp;&nbsp;&nbsp;&nbsp; Booking Holdings, Inc.# | 11002132 |  |
| 59260 | &nbsp;&nbsp;&nbsp;&nbsp; Carnival Corp.# | 641193 |  |
| 243463 | &nbsp;&nbsp;&nbsp;&nbsp; General Motors Company | 9572965 |  |
| 52240 | &nbsp;&nbsp;&nbsp;&nbsp; Home Depot, Inc. | 16934641 |  |
| 294980 | &nbsp;&nbsp;&nbsp;&nbsp; Las Vegas Sands Corp.^µ# | 17403820 |  |
| 41620 | &nbsp;&nbsp;&nbsp;&nbsp; Lowe's Companies, Inc.^ | 8667365 |  |
| 62500 | &nbsp;&nbsp;&nbsp;&nbsp; McDonald's Corp.^ | 16712500 |  |
| 162800 | &nbsp;&nbsp;&nbsp;&nbsp; NIKE, Inc. - Class B | 20729324 |  |
| 107325 | &nbsp;&nbsp;&nbsp;&nbsp; Starbucks Corp.^ | 11713450 |  |
| 156295 | &nbsp;&nbsp;&nbsp;&nbsp; Tesla, Inc.# | 27073420 |  |
| 71950 | &nbsp;&nbsp;&nbsp;&nbsp; TJX Companies, Inc. | 5889827 |  |
| 27180 | &nbsp;&nbsp;&nbsp;&nbsp; Ulta Beauty, Inc.# | 13969433 |  |
|  |  | 227581769 |  |
|  | ***Consumer Staples (8.0%)*** | ***Consumer Staples (8.0%)*** | **** |
| 58750 | &nbsp;&nbsp;&nbsp;&nbsp; Altria Group, Inc. | 2646100 |  |
| 459960 | &nbsp;&nbsp;&nbsp;&nbsp; Coca-Cola Company^ | 28204747 |  |
| 31575 | &nbsp;&nbsp;&nbsp;&nbsp; Costco Wholesale Corp. | 16139246 |  |
| 47280 | &nbsp;&nbsp;&nbsp;&nbsp; Estee Lauder Companies, Inc. - Class A | 13100342 |  |
| 250885 | &nbsp;&nbsp;&nbsp;&nbsp; Mondelez International, Inc. - Class A^ | 16417915 |  |
| 74555 | &nbsp;&nbsp;&nbsp;&nbsp; Monster Beverage Corp.# | 7759684 |  |
| 112795 | &nbsp;&nbsp;&nbsp;&nbsp; PepsiCo, Inc.^ | 19290201 |  |
| 179035 | &nbsp;&nbsp;&nbsp;&nbsp; Philip Morris International, Inc.^ | 18662609 |  |
| 203745 | &nbsp;&nbsp;&nbsp;&nbsp; Procter & Gamble Company^~ | 29009213 |  |
| 124615 | &nbsp;&nbsp;&nbsp;&nbsp; Sysco Corp. | 9652678 |  |
| 52650 | &nbsp;&nbsp;&nbsp;&nbsp; Walgreens Boots Alliance, Inc. | 1940679 |  |
| 130790 | &nbsp;&nbsp;&nbsp;&nbsp; Walmart, Inc. | 18816757 |  |
|  |  | 181640171 |  |
|  | ***Energy (6.2%)*** |  |  |
| 475000 | &nbsp;&nbsp;&nbsp;&nbsp; BP, PLC | 17209250 |  |
| 11045 | &nbsp;&nbsp;&nbsp;&nbsp; Chaparral Energy, Inc. - Class A&# | 469413 |  |
| 3550 | &nbsp;&nbsp;&nbsp;&nbsp; Chesapeake Energy Corp. | 307856 |  |
| 128625 | &nbsp;&nbsp;&nbsp;&nbsp; Chevron Corp.^ | 22383322 |  |
| 86435 | &nbsp;&nbsp;&nbsp;&nbsp; ConocoPhillips | 10533833 |  |
| 82935 | &nbsp;&nbsp;&nbsp;&nbsp; Energy Transfer, LP | 1101377 |  |
| 49155 | &nbsp;&nbsp;&nbsp;&nbsp; Enterprise Products Partners, LP | 1258368 |  |
| 7920 | &nbsp;&nbsp;&nbsp;&nbsp; EP Energy Corp.&# | 62370 |  |
| 355670 | &nbsp;&nbsp;&nbsp;&nbsp; Exxon Mobil Corp.^ | 41261277 |  |
| 56105 | &nbsp;&nbsp;&nbsp;&nbsp; Hess Corp. | 8424727 |  |
| 15860 | &nbsp;&nbsp;&nbsp;&nbsp; Magellan Midstream Partners, LP | 846924 |  |
| 100220 | &nbsp;&nbsp;&nbsp;&nbsp; Marathon Petroleum Corp. | 12880274 |  |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Strategic Total Return Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**NUMBER OF** <br> **SHARES** | | **VALUE** | **VALUE** | **VALUE** |
| 24975 | &nbsp;&nbsp;&nbsp;&nbsp; Pioneer Natural Resources Company | $| 5752991 |  |
| 219710 | &nbsp;&nbsp;&nbsp;&nbsp; Schlumberger, Ltd. |  | 12519076 |  |
| 33540 | &nbsp;&nbsp;&nbsp;&nbsp; Valero Energy Corp. |  | 4696606 |  |
| 10000 | &nbsp;&nbsp;&nbsp;&nbsp; Williams Companies, Inc.^ |  | 322400 |  |
|  |  |  | 140030064 |  |
|  | ***Financials (11.0%)*** |  |  |  |
| 35430 | &nbsp;&nbsp;&nbsp;&nbsp; Affiliated Managers Group, Inc. |  | 6120178 |  |
| 59230 | &nbsp;&nbsp;&nbsp;&nbsp; American Express Company^ |  | 10361104 |  |
| 346890 | &nbsp;&nbsp;&nbsp;&nbsp; American International Group, Inc.^ |  | 21930386 |  |
| 29983 | &nbsp;&nbsp;&nbsp;&nbsp; Assurant, Inc. |  | 3975446 |  |
| 663370 | &nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp.^~ |  | 23536368 |  |
| 71870 | &nbsp;&nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp.^ |  | 3634466 |  |
| 10715 | &nbsp;&nbsp;&nbsp;&nbsp; BlackRock, Inc.^ |  | 8134935 |  |
| 85840 | &nbsp;&nbsp;&nbsp;&nbsp; Charles Schwab Corp.^ |  | 6645733 |  |
| 76155 | &nbsp;&nbsp;&nbsp;&nbsp; Chubb, Ltd. |  | 17324501 |  |
| 231670 | &nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc.^ |  | 12097807 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Discover Financial Services^ |  | 11673000 |  |
| 27300 | &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc.^ |  | 9986613 |  |
| 447110 | &nbsp;&nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc.^ |  | 6782659 |  |
| 212020 | &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Company^ |  | 29674319 |  |
| 502205 | &nbsp;&nbsp;&nbsp;&nbsp; KeyCorp^ |  | 9637314 |  |
| 85415 | &nbsp;&nbsp;&nbsp;&nbsp; Marsh & McLennan Companies, Inc. |  | 14939938 |  |
| 247340 | &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley^ |  | 24073602 |  |
| 43760 | &nbsp;&nbsp;&nbsp;&nbsp; Northern Trust Corp.^ |  | 4243407 |  |
| 157631 | &nbsp;&nbsp;&nbsp;&nbsp; Starwood Property Trust, Inc.^ |  | 3292911 |  |
| 411130 | &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Company^ |  | 19269663 |  |
|  |  |  | 247334350 |  |
|  | ***Health Care (13.5%)*** | ***Health Care (13.5%)*** | ***Health Care (13.5%)*** | **** |
| 220665 | &nbsp;&nbsp;&nbsp;&nbsp; Abbott Laboratories^~ |  | 24394516 |  |
| 118475 | &nbsp;&nbsp;&nbsp;&nbsp; AbbVie, Inc.^ |  | 17504681 |  |
| 124060 | &nbsp;&nbsp;&nbsp;&nbsp; Alcon, Inc. |  | 9330553 |  |
| 225090 | &nbsp;&nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Company |  | 16352788 |  |
| 26830 | &nbsp;&nbsp;&nbsp;&nbsp; CVS Health Corp. |  | 2366943 |  |
| 73270 | &nbsp;&nbsp;&nbsp;&nbsp; Danaher Corp.^ |  | 19371123 |  |
| 23435 | &nbsp;&nbsp;&nbsp;&nbsp; Elevance Health, Inc. |  | 11717266 |  |
| 105650 | &nbsp;&nbsp;&nbsp;&nbsp; Eli Lilly & Company^ |  | 36359447 |  |
| 34856 | &nbsp;&nbsp;&nbsp;&nbsp; GE Healthcare, Inc.# |  | 2423189 |  |
| 150220 | &nbsp;&nbsp;&nbsp;&nbsp; Gilead Sciences, Inc. |  | 12609467 |  |
| 10885 | &nbsp;&nbsp;&nbsp;&nbsp; Humana, Inc. |  | 5569854 |  |
| 251335 | &nbsp;&nbsp;&nbsp;&nbsp; Johnson & Johnson^ |  | 41073166 |  |
| 17140 | &nbsp;&nbsp;&nbsp;&nbsp; Mallinckrodt, PLC# |  | 128550 |  |
| 122460 | &nbsp;&nbsp;&nbsp;&nbsp; Medtronic, PLC |  | 10248677 |  |
| 219485 | &nbsp;&nbsp;&nbsp;&nbsp; Merck & Company, Inc. |  | 23574884 |  |
| 314685 | &nbsp;&nbsp;&nbsp;&nbsp; Pfizer, Inc. |  | 13896490 |  |
| 21460 | &nbsp;&nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc. |  | 12239282 |  |
| 90407 | &nbsp;&nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc.^~ |  | 45130270 |  |
|  |  |  | 304291146 |  |
|  | ***Industrials (5.3%)*** |  |  |  |
| 777890 | &nbsp;&nbsp;&nbsp;&nbsp; CSX Corp.^ |  | 24052359 |  |
| 104568 | &nbsp;&nbsp;&nbsp;&nbsp; General Electric Company |  | 8415633 |  |
| 104790 | &nbsp;&nbsp;&nbsp;&nbsp; Honeywell International, Inc.^ |  | 21846619 |  |
| 79505 | &nbsp;&nbsp;&nbsp;&nbsp; JB Hunt Transport Services, Inc. |  | 15030420 |  |
| 28435 | &nbsp;&nbsp;&nbsp;&nbsp; Northrop Grumman Corp. |  | 12740017 |  |
| 272540 | &nbsp;&nbsp;&nbsp;&nbsp; Raytheon Technologies Corp. |  | 27213119 |  |
| 152510 | &nbsp;&nbsp;&nbsp;&nbsp; Southwest Airlines Company |  | 5455283 |  |
| 20295 | &nbsp;&nbsp;&nbsp;&nbsp; Stryker Corp. |  | 5151074 |  |
|  |  |  | 119904524 |  |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**NUMBER OF** <br> **SHARES** | | **VALUE** | **VALUE** |
|  | ***Information Technology (24.7%)*** | ***Information Technology (24.7%)*** | **** |
| 56335 | &nbsp;&nbsp;&nbsp;&nbsp; Accenture, PLC - Class A | $15720282 |  |
| 21770 | &nbsp;&nbsp;&nbsp;&nbsp; Adobe, Inc.^# | 8062302 |  |
| 44250 | &nbsp;&nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc.^# | 3325388 |  |
| 1106065 | &nbsp;&nbsp;&nbsp;&nbsp; Apple, Inc.^~ | 159594119 |  |
| 84440 | &nbsp;&nbsp;&nbsp;&nbsp; Applied Materials, Inc. | 9414216 |  |
| 54444 | &nbsp;&nbsp;&nbsp;&nbsp; Broadcom, Inc. | 31850284 |  |
| 247515 | &nbsp;&nbsp;&nbsp;&nbsp; Cisco Systems, Inc.^ | 12046555 |  |
| 58910 | &nbsp;&nbsp;&nbsp;&nbsp; Fidelity National Information Services, Inc.^ | 4420606 |  |
| 10330 | &nbsp;&nbsp;&nbsp;&nbsp; Intuit, Inc. | 4366181 |  |
| 16960 | &nbsp;&nbsp;&nbsp;&nbsp; Lam Research Corp. | 8481696 |  |
| 72315 | &nbsp;&nbsp;&nbsp;&nbsp; Mastercard, Inc. - Class A | 26799939 |  |
| 95780 | &nbsp;&nbsp;&nbsp;&nbsp; Micron Technology, Inc. | 5775534 |  |
| 574150 | &nbsp;&nbsp;&nbsp;&nbsp; Microsoft Corp.^~ | 142280111 |  |
| 1520000 | &nbsp;&nbsp;&nbsp;&nbsp; Nokia Oyj | 7235200 |  |
| 204580 | &nbsp;&nbsp;&nbsp;&nbsp; NVIDIA Corp.^ | 39968795 |  |
| 81370 | &nbsp;&nbsp;&nbsp;&nbsp; Oracle Corp. | 7197990 |  |
| 115050 | &nbsp;&nbsp;&nbsp;&nbsp; PayPal Holdings, Inc.^# | 9375425 |  |
| 66010 | &nbsp;&nbsp;&nbsp;&nbsp; QUALCOMM, Inc. | 8793192 |  |
| 59985 | &nbsp;&nbsp;&nbsp;&nbsp; Salesforce, Inc.^# | 10075680 |  |
| 178525 | &nbsp;&nbsp;&nbsp;&nbsp; Visa, Inc. - Class A | 41098240 |  |
|  |  | 555881735 |  |
|  | ***Materials (3.5%)*** | ***Materials (3.5%)*** | **** |
| 255945 | &nbsp;&nbsp;&nbsp;&nbsp; Freeport-McMoRan, Inc. | 11420266 |  |
| 102435 | &nbsp;&nbsp;&nbsp;&nbsp; Linde, PLC | 33899839 |  |
| 41000 | &nbsp;&nbsp;&nbsp;&nbsp; Nucor Corp. | 6929820 |  |
| 88445 | &nbsp;&nbsp;&nbsp;&nbsp; PPG Industries, Inc. | 11527921 |  |
| 21845 | &nbsp;&nbsp;&nbsp;&nbsp; ServiceNow, Inc.# | 9942315 |  |
| 23420 | &nbsp;&nbsp;&nbsp;&nbsp; Vulcan Materials Company | 4293589 |  |
|  |  | 78013750 |  |
|  | ***Real Estate (0.9%)*** |  |  |
| 70930 | &nbsp;&nbsp;&nbsp;&nbsp; American Tower Corp. | 15845053 |  |
| 119195 | &nbsp;&nbsp;&nbsp;&nbsp; Invitation Homes, Inc. | 3873837 |  |
| 1951 | &nbsp;&nbsp;&nbsp;&nbsp; Necessity Retail REIT, Inc.<br> 03/26/24 | 46434 |  |
|  |  | 19765324 |  |
|  | ***Special Purpose Acquisition Company (0.0%)*** | ***Special Purpose Acquisition Company (0.0%)*** | **** |
| 14021 | &nbsp;&nbsp;&nbsp;&nbsp; Intelsat Emergence, SA&# | 325988 |  |
|  | ***Utilities (1.3%)*** |  |  |
| 255755 | &nbsp;&nbsp;&nbsp;&nbsp; DTE Energy Company | 29762151 |  |
|  | **TOTAL COMMON STOCKS**<br> (Cost $1,517,004,927) | **2063295374** |  |
| **WARRANTS (0.1%) #** | **WARRANTS (0.1%) #** | **WARRANTS (0.1%) #** |  |
|  | ***Energy (0.1%)*** |  |  |
| 57470 | &nbsp;&nbsp;&nbsp;&nbsp; Mcdermott International, Ltd.&<br> 06/30/27, Strike $15.98 | 6 |  |
| 51723 | &nbsp;&nbsp;&nbsp;&nbsp; Mcdermott International, Ltd.<br> 06/30/27, Strike $12.33 | 5 |  |
| 47885 | &nbsp;&nbsp;&nbsp;&nbsp; Tidewater, Inc.<br> 11/14/42, Strike $0.01 | 2286030 |  |
| 16676 | &nbsp;&nbsp;&nbsp;&nbsp; Tidewater, Inc.<br> 11/14/42, Strike $0.01 | 1 |  |
|  | **TOTAL WARRANTS**<br>(Cost $3,820,994) | 2286042 |  |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Strategic Total Return Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF <br>SHARES** | | **VALUE** |
| **EXCHANGE-TRADED FUNDS (1.8%)** | **EXCHANGE-TRADED FUNDS (1.8%)** | **EXCHANGE-TRADED FUNDS (1.8%)** |
|  | ***Other (1.8%)*** |  |
| 1256235 | iShares China Large-Cap ETF | $39948273 |
| 5525 | iShares Preferred & Income Securities ETF | 185640 |
|  | **TOTAL EXCHANGE-TRADED FUNDS**<br> (Cost $34,256,794) | 40133913 |
| **PREFERRED STOCKS (0.4%)** | **PREFERRED STOCKS (0.4%)** |  |
|  | ***Communication Services (0.0%)*** |  |
| 8482 | &nbsp;&nbsp;&nbsp;&nbsp; AT&T, Inc.^<br> 4.750%, 02/18/25 | 177952 |
| 3485 | &nbsp;&nbsp;&nbsp;&nbsp; AT&T, Inc.<br> 5.350%, 11/01/66 | 83675 |
| 22500 | &nbsp;&nbsp;&nbsp;&nbsp; Qwest Corp.<br> 6.500%, 09/01/56 | 463500 |
|  |  | 725127 |
|  | ***Consumer Discretionary (0.1%)*** |  |
| 2835 | &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Company<br> 6.200%, 06/01/59 | 70535 |
| 2764 | &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Company<br> 6.500%, 08/15/62 | 67359 |
| 8177 | &nbsp;&nbsp;&nbsp;&nbsp; Guitar Center, Inc.& | 1018036 |
| 605 | &nbsp;&nbsp;&nbsp;&nbsp; Qurate Retail, Inc.<br> 8.000%, 03/15/31 | 28496 |
|  |  | 1184426 |
|  | ***Energy (0.2%)*** |  |
| 12420 | &nbsp;&nbsp;&nbsp;&nbsp; Energy Transfer, LP‡<br> 7.625%, 08/15/23<br> 3 mo. LIBOR + 4.74% | 300440 |
| 52665 | &nbsp;&nbsp;&nbsp;&nbsp; NuStar Energy, LP‡<br> 10.379%, 03/02/23<br> 3 mo. LIBOR + 5.64% | 1223934 |
| 20834 | &nbsp;&nbsp;&nbsp;&nbsp; NuStar Energy, LP‡<br> 11.502%, 03/02/23<br> 3 mo. LIBOR + 6.77% | 521267 |
| 55760 | &nbsp;&nbsp;&nbsp;&nbsp; NuStar Logistics, LP‡<br> 11.526%, 01/15/43<br> 3 mo. LIBOR + 6.73% | 1397903 |
|  |  | 3443544 |
|  | ***Financials (0.1%)*** |  |
| 3400 | &nbsp;&nbsp;&nbsp;&nbsp; Affiliated Managers Group, Inc.<br> 4.750%, 09/30/60 | 68000 |
| 5970 | &nbsp;&nbsp;&nbsp;&nbsp; Annaly Capital Management, Inc.‡<br> 6.950%, 03/02/23<br> 3 mo. LIBOR + 4.99% | 148355 |
| 34797 | &nbsp;&nbsp;&nbsp;&nbsp; B Riley Financial, Inc.<br> 5.250%, 08/31/28 | 739088 |
| 3000 | &nbsp;&nbsp;&nbsp;&nbsp; B Riley Financial, Inc.<br> 6.000%, 01/31/28 | 66420 |
| 1350 | &nbsp;&nbsp;&nbsp;&nbsp; Capital One Financial Corp.<br> 4.800%, 06/01/25 | 28080 |
| 10725 | &nbsp;&nbsp;&nbsp;&nbsp; CNO Financial Group, Inc.<br> 5.125%, 11/25/60 | 194981 |
| 1732 | &nbsp;&nbsp;&nbsp;&nbsp; Cullen/Frost Bankers, Inc.<br> 4.450%, 12/15/25 | 34709 |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF <br>SHARES** | | **VALUE** |
| 3477 | &nbsp;&nbsp;&nbsp;&nbsp; Ellington Financial, Inc.‡<br> 6.250%, 01/30/27<br> 5 year CMT + 4.99% | $68567 |
| 1201 | &nbsp;&nbsp;&nbsp;&nbsp; First Citizens BancShares, Inc.<br> 5.625%, 01/04/27 | 25677 |
| 2668 | &nbsp;&nbsp;&nbsp;&nbsp; First Republic Bank<br> 4.000%, 08/30/26 | 48771 |
| 1943 | &nbsp;&nbsp;&nbsp;&nbsp; First Republic Bank<br> 4.125%, 10/30/25 | 36606 |
| 4400 | &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley<br> 6.500%, 10/15/27 | 114576 |
| 2195 | &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley^<br> 4.250%, 01/15/27 | 43768 |
| 6915 | &nbsp;&nbsp;&nbsp;&nbsp; Prospect Capital Corp.<br> 5.350%, 07/01/26 | 118385 |
| 12387 | &nbsp;&nbsp;&nbsp;&nbsp; Selective Insurance Group, Inc.<br> 4.600%, 12/15/25 | 230770 |
| 3000 | &nbsp;&nbsp;&nbsp;&nbsp; Spirit Realty Capital, Inc.<br> 6.000%, 03/02/23 | 72540 |
| 7398 | &nbsp;&nbsp;&nbsp;&nbsp; Western Alliance Bancorp‡<br> 4.250%, 09/30/26<br> 5 year CMT + 3.45% | 158835 |
|  |  | 2198128 |
|  | ***Industrials (0.0%)*** |  |
| 2555 | &nbsp;&nbsp;&nbsp;&nbsp; WESCO International, Inc.‡<br> 10.625%, 06/22/25<br> 5 year CMT + 10.33% | 69496 |
|  | ***Real Estate (0.0%)*** |  |
| 11275 | &nbsp;&nbsp;&nbsp;&nbsp; Brookfield Property Partners, LP<br> 5.750%, 03/31/25 | 205656 |
| 5000 | &nbsp;&nbsp;&nbsp;&nbsp; Brookfield Property Partners, LP<br> 6.375%, 09/30/24 | 99350 |
| 3625 | &nbsp;&nbsp;&nbsp;&nbsp; Global Net Lease, Inc.<br> 6.875%, 11/26/24 | 85441 |
|  |  | 390447 |
|  | ***Utilities (0.0%)*** |  |
| 6000 | &nbsp;&nbsp;&nbsp;&nbsp; Brookfield Renewable Partners, LP<br> 5.250%, 03/31/25 | 125940 |
| 5100 | &nbsp;&nbsp;&nbsp;&nbsp; DTE Energy Company<br> 5.250%, 12/01/77 | 126480 |
|  |  | 252420 |
|  | **TOTAL PREFERRED STOCKS**<br> (Cost $8,939,167) | 8263588 |
| **NUMBER OF**<br> **CONTRACTS/**<br> **NOTIONAL**<br> **AMOUNT** |  | **VALUE** |
| **PURCHASED OPTIONS (0.1%) #** | **PURCHASED OPTIONS (0.1%) #** |  |
|  | ***Other (0.1%)*** |  |
| 6900 | &nbsp;&nbsp;&nbsp;&nbsp; iShares MSCI Emerging Markets |  |
| 28538400 | &nbsp;&nbsp;&nbsp;&nbsp; Call, 06/16/23, Strike $42.00 | 1359300 |
| 770 | &nbsp;&nbsp;&nbsp;&nbsp; iShares Russell 2000 ETF |  |
| 14743960 | &nbsp;&nbsp;&nbsp;&nbsp; Call, 03/17/23, Strike $195.00 | 338415 |
| 110 | &nbsp;&nbsp;&nbsp;&nbsp; S&P 500 Index |  |
| 44842600 | &nbsp;&nbsp;&nbsp;&nbsp; Put, 03/31/23, Strike $4,000.00 | 875050 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Strategic Total Return Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | |
|:---|:---|
| | **VALUE** |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL PURCHASED OPTIONS**<br> (Cost $2,737,835) | $2572765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS (142.7%)**<br>(Cost $2,723,496,785) | 3217211752 |
| MANDATORY REDEEMABLE PREFERRED SHARES, AT LIQUIDATION VALUE (-14.4%) | (323500000) |
| LIABILITIES, LESS OTHER ASSETS (-28.3%) | (639821715) |
| **NET ASSETS (100.0%)** | $2253890037 |

---

**NOTES TO SCHEDULE OF INVESTMENTS** 

**\*** Securities issued and sold pursuant to a Rule 144A transaction are exempted from the registration requirement of the Securities Act of 1933, as amended. These securities may only be sold to qualified institutional buyers ("QIBs"), such as the Fund. Any resale of these securities must generally be effected through a sale that is registered under the Act or otherwise exempted from such registration requirements. 

---

| | |
|:---|:---|
| **@** | In default status and considered non-income producing.  |

---

---

| | |
|:---|:---|
| **&** | Illiquid security.  |

---

**‡** Variable rate security. The rate shown is the rate in effect at January 31, 2023.

---

| | |
|:---|:---|
| **^** | Security, or portion of security, is on loan.  |

---

---

| | |
|:---|:---|
| **~** | Security, or portion of security, is segregated as collateral (or potential collateral for future transactions) for written options. The aggregate value of such securities is $8,376,237.  |

---

---

| | |
|:---|:---|
| **¡** | Bank loans generally are subject to mandatory and/or optional prepayment. As a result, the actual remaining maturity of bank loans may be substantially less than the stated maturities shown.  |

---

---

| | |
|:---|:---|
| **!** | This position represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate, which will be adjusted on settlement date.  |

---

---

| | |
|:---|:---|
| **µ** | Security, or portion of security, is held in a segregated account as collateral for note payable aggregating a total value of $44,810,781.  |

---

---

| | |
|:---|:---|
| **§** | Securities exchangeable or convertible into securities of one or more entities that are different than the issuer. Each entity is identified in the parenthetical.  |

---

**\*\*** Step coupon security. Coupon changes periodically based upon a predetermined schedule. The rate shown is the rate in effect at January 31, 2023. 

**#** Non-income producing security. 

**FOREIGN CURRENCY ABBREVIATION** 

---

| | |
|:---|:---|
| **EUR** | European Monetary Unit  |

---

---

| | |
|:---|:---|
| **HKD** | Hong Kong Dollar  |

---

*Note: Value for securities denominated in foreign currencies is shown in U.S. dollars. The principal amount for such securities is shown in the respective foreign currency. The date on options represents the expiration date of the option contract. The option contract may be exercised at any date on or before the date shown.* 

See accompanying Notes to Schedule of Investments

------

**Note 1 – Organization and Significant Accounting Policies** 

Organization. Calamos Strategic Total Return Fund (the "Fund") was organized as a Delaware statutory trust on December 31, 2003 and is registered under the Investment Company Act of 1940 (the "1940 Act") as a diversified, closed-end management investment company. The Fund commenced operations on March 26, 2004.

The Fund's investment strategy is to provide total return through a combination of capital appreciation and current income. Under normal circumstances, the Fund will invest primarily in common and preferred stocks, convertible securities and income-producing securities such as investment grade and below investment grade (high yield/high risk) debt securities. The Fund, under normal circumstances, will invest at least 50% of its managed assets in equity securities (including securities that are convertible into equity securities). The Fund may invest up to 35% of its managed assets in securities of foreign issuers, including debt and equity securities of corporate issuers and debt securities of government issuers in developed and emerging markets. The Fund may invest up to 15% of its managed assets in securities of foreign issuers in emerging markets. "Managed assets" means the Fund's total assets (including any assets attributable to any leverage that may be outstanding) minus total liabilities (other than debt representing financial leverage).

**Significant Accounting Policies**. The Schedule of Investments has been prepared in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) and the Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. The following summarizes the significant accounting policies of the Fund:

**Fund Valuation**. The Trust's Board of Trustees, including a majority of the Trustees who are not "interested persons" of the Trust, have designated Calamos Advisors LLC ("Calamos Advisors") to perfom fair valuation determinations related to all Fund investments under the oversight of the Board. As "valuation designee" the Calamos Advisors has adopted procedures to guide the determination of the NAV on any day on which the Fund's NAVs are dertermined. The valuation of the Fund's investments is in accordance with these procedures.

Fund securities that are traded on U.S. securities exchanges, except option securities, are valued at the official closing price, which is the last current reported sales price on its principal exchange at the time each Fund determines its net asset value ("NAV"). Securities traded in the over-the-counter market and quoted on The NASDAQ Stock Market are valued at the NASDAQ Official Closing Price, as determined by NASDAQ, or lacking a NASDAQ Official Closing Price, the last current reported sale price on NASDAQ at the time the Fund determines its NAV. When a last sale or closing price is not available, equity securities, other than option securities, that are traded on a U.S. securities exchange and other equity securities traded in the over-the-counter market are valued at the mean between the most recent bid and asked quotations on its principal exchange in accordance with guidelines adopted by the board of trustees. Each option security traded on a U.S. securities exchange is valued at the mid-point of the consolidated bid/ask quote for the option security, also in accordance with guidelines adopted by the board of trustees. Each over-the-counter option that is not traded through the Options Clearing Corporation is valued either by an independent pricing agent approved by the board of trustees or based on a quotation provided by the counterparty to such option under the ultimate supervision of the board of trustees.

Fixed income securities, bank loans, certain convertible preferred securities, and non-exchange traded derivatives are normally valued by independent pricing services or by dealers or brokers who make markets in such securities. Valuations of such fixed income securities, bank loans, certain convertible preferred securities, and non-exchange traded derivatives consider yield or price of equivalent securities of comparable quality, coupon rate, maturity, type of issue, trading characteristics and other market data and do not rely exclusively upon exchange or over-the-counter prices.

Trading on European and Far Eastern exchanges and over-the-counter markets is typically completed at various times before the close of business on each day on which the New York Stock Exchange ("NYSE") is open. Each security trading on these exchanges or in over-the-counter markets may be valued utilizing a systematic fair valuation model provided by an independent pricing service approved by the board of trustees. The valuation of each security that meets certain criteria in relation to the valuation model is systematically adjusted to reflect the impact of movement in the U.S. market after the foreign markets close. Securities that do not meet the criteria, or that are principally traded in other foreign markets, are valued as of the last reported sale price at the time the Fund determines its NAV, or when reliable market prices or quotations are not readily available, at the mean between the most recent bid and asked quotations as of the close of the appropriate exchange or other designated time. Trading of foreign securities may not take place on every NYSE business day. In addition, trading may take place in various foreign markets on Saturdays or on other days when the NYSE is not open and on which the Fund's NAV is not calculated.

If the pricing committee determines that the valuation of a security in accordance with the methods described above is not reflective of a fair value for such security, the security is valued at a fair value by the pricing committee.

The Fund also may use fair value pricing, pursuant to guidelines adopted by Calamos Advisors, if trading in the security is halted or if the value of a security it holds is materially affected by events occurring before the Fund's pricing time but after the close of the primary market or exchange on which the security is listed. Those procedures may utilize valuations furnished by pricing services approved by Calamos Advisors, which may be based on market transactions for comparable securities and various relationships between securities that are generally recognized by institutional traders, a computerized matrix system, or appraisals derived from information concerning the securities or similar securities received from recognized dealers in those securities.

When fair value pricing of securities is employed, the prices of securities used by a Fund to calculate its NAV may differ from market quotations or official closing prices. There can be no assurance that the Fund could purchase or sell a portfolio security at the price used to calculate the Fund's net asset value ("NAV").

**Foreign Currency Translation**. Values of investments and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using a rate quoted by a major bank or dealer in the particular currency market, as reported by a recognized quotation dissemination service.

**Option Transactions**. For hedging and investment purposes, the Fund may purchase or write (sell) put and call options. One of the risks associated with purchasing an option is that the Fund pays a premium whether or not the option is exercised. Additionally, the Fund bears the risk of loss of premium and change in value should the counterparty not perform under the contract. The Fund as writer of an option bears the market risk of an unfavorable change in the price of the security underlying the written option.

**Note 2 – Investments** 

The cost basis of investments for federal income tax purposes at January 31, 2023 was as follows\*:

------

---

| | |
|:---|:---|
|  Cost basis of investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2723496785 |
|  Gross unrealized appreciation | 727701159 |
|  Gross unrealized depreciation | (233986192) |
|  Net unrealized appreciation (depreciation) | $493714967 |

---

\* Because tax adjustments are calculated annually, the above table does not reflect tax adjustments. For the previous fiscal year's federal income tax information, please refer to the Notes to Financial Statements section in the Fund's most recent semi-annual or annual report.

**Note 3 – Mandatory Redeemable Preferred Shares** 

The Fund issued MRPS on March 8, 2022, August 24, 2021, and September 6, 2017. On March 8, 2022, 4,000,000 MRPS were issued with an aggregate liquidation preference of $100,000,000. On August 24, 2021, 2,480,000 MRPS were issued with an aggregate liquidation preference of $62.0 million. On September 6, 2017, 9,680,000 MRPS were issued with an aggregate liquidation preference of $242.0 million. Offering costs incurred by the Fund in connection with the MRPS issuance are aggregated with the outstanding liability and are being amortized to Interest expense and amortization of offering costs on MRPS over the respective life of each series of MRPS and shown in the Statement of Operations.

The MRPS are divided into four series with different mandatory redemption dates and dividend rates. The table below summarizes the key terms of each series of the MRPS at January 31, 2023.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series | Term<br>Redemption Date | &nbsp;&nbsp;&nbsp;&nbsp;Dividend Rate | &nbsp;&nbsp;&nbsp;&nbsp;Shares (000's) | &nbsp;&nbsp;&nbsp;&nbsp;Liquidation Preference Per Share | Aggregate Liquidation Preference |
|  &nbsp;&nbsp;&nbsp;&nbsp;Series B | 9/06/24 | 4.00% | 3220 | $25 | $80500000 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Series C | 9/06/27 | 4.24% | 3240 | $25 | $81000000 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Series D | 8/24/26 | 2.45% | 2480 | $25 | $62000000 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Series F | 5/24/27 | 3.66% | 4000 | $25 | $100000000 |
|  |  |  |  |  | $323500000 |

---

The MRPS are not listed on any exchange or automated quotation system. The MRPS are considered debt of the issuer; therefore, the liquidation preference, which approximates fair value of the MRPS, is recorded as a liability in the Statement of Assets and Liabilities net of deferred offering costs. The MRPS are categorized as Level 2 within the fair value hierarchy.

During the period ended January 31, 2023, all MRPS were rated `AA-' by Kroll Bond Rating Agency LLC ("KBRA"). If the ratings of the MRPS are downgraded, the Fund's dividend expense may increase, as described below.

Holders of MRPS are entitled to receive monthly cumulative cash dividends payable on the first business day of each month. The MRPS currently are rated "AA-" by Kroll. If on the first day of a monthly dividend period the MRPS of any class are rated lower than "A" by Kroll, the dividend rate for such period shall be increased by 0.5%, 2.0% or 4.0% according to an agreed upon schedule. The MRPS' dividend rate is also subject to increase during periods when the Fund has not made timely payments to MRPS holders and/or the MRPS do not have a current credit rating, subject to various terms and conditions. Dividends accrued and paid to the shareholders of MRPS are included in "Interest expense and amortization of offering costs on Mandatory Redeemable Preferred Shares" within the Statement of Operations.

With regard to the Series A, B and C MRPS, so long as any MRPS are outstanding, the Fund will not declare, pay or set apart for payment any dividend or other distribution (other than non-cash distributions) with respect to Fund shares ranking junior to or on parity with the MRPS, unless (1) the Fund has satisfied the MRPS Overcollateralization Test (as defined below) on at least one "valuation date" in the preceding 65 calendar days, (2) immediately after such transaction the Fund would satisfy the MRPS Asset Coverage Test (as defined below), (3) full cumulative dividends on the MRPS due on or prior to the date of the transaction have been declared and paid to the holders of MRPS and (4) the Fund has redeemed the full number of MRPS required to be redeemed by any provision for mandatory redemption or deposited sufficient monies with the Fund's paying agent for that purpose, subject to certain grace periods and exceptions.

<u>MRPS Asset Coverage Test</u>: Asset coverage with respect to all outstanding senior securities and preferred shares, including the MRPS, determined in accordance with Section 18(h) of the 1940 Act, on the basis of values calculated as of a time within 48 hours (not including Sundays or holidays) next preceding the time of determination, must be greater than or equal to 225%.

<u>MRPS Overcollateralization Test</u>: So long as Fitch or any other NSRSO, such as Kroll, is then rating any class of the outstanding MRPS pursuant to the request of the Fund, satisfaction of only those overcollateralization ratios applicable to closed-end fund issuers with the same rating(s) as the Fund's MRPS' then-current rating(s) issued by Fitch or such other NSRSO, such as Kroll, by application of the applicable rating agency guidelines.

With regard to Series D and F MRPS, for so long as any MRPS are Outstanding, the Fund will not declare, pay or set apart for payment any dividend or other distribution (other than a dividend or distribution paid in shares of, or options, warrants or rights to subscribe for or purchase, Common Shares or other shares of beneficial interest, if any, ranking junior to the MRPS as to dividends or upon liquidation (collectively "non-cash distributions") with respect to Common Shares or any other shares of the Series or Fund ranking junior to or on a parity with the MRPS as to dividends or upon liquidation, or call for redemption, redeem, purchase or otherwise acquire for consideration any Common Shares or any other such junior shares (except by conversion into or exchange for shares of the Fund ranking junior to the MRPS as to dividends and upon liquidation) or any such parity shares (except by conversion into or exchange for shares of the Fund ranking junior to or on a parity with the MRPS as to dividends and upon liquidation), unless (1) immediately after such transaction the Fund would satisfy the MRPS Asset Coverage Test, (2) full cumulative dividends on the MRPS due on or prior to the date of the transaction have been declared and paid to the Holders of MRPS, and (3) the Fund has redeemed the full number of MRPS required to be redeemed by any provision for mandatory redemption contained in Section 3(a) or deposited sufficient monies with the Paying Agent for that purpose (without regard to the provisions of the Special Proviso); provided that the Fund may make any distributions reasonably necessary for the Fund to continue to qualify as a "regulated investment company" under Subchapter M of the Internal Revenue Code and to avoid excise tax under Section 4982 of the Internal Revenue Code ("Tax Required Payments"). For the avoidance of doubt, any such Tax Required Payments would only be paid to holders of Common Shares after full cumulative dividends due on or prior to the date of the applicable distribution and any mandatory redemptions occurring on or prior to the date of the applicable distribution have been paid to the holders of MRPS.

------

Except as otherwise required pursuant to the Fund's governing documents or applicable law, the holders of the MRPS have one vote per share and vote together with the holders of common stock of the Fund as a single class except on matters affecting only the holders of MRPS or the holders of common stock. Pursuant to the 1940 Act, holders of the MRPS have the right to elect at least two trustees of the Fund, voting separately as a class. Except during any time when the Fund has failed to make a dividend or redemption payment in respect of MRPS outstanding, the holders of MRPS have agreed to vote in accordance with the recommendation of the board of trustees on any matter submitted to them for their vote or to the vote of shareholders of the Fund generally.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Calamos Strategic Total Return Fund

- **b. Investment Company Act file number:** 811-21484

- **c. CIK number of Registrant:** 0001275214

- **d. LEI of Registrant:** 54930048NQ2YBS3TXW78

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

  - **Street Address 1:** 2020 Calamos Court

  - **City:** Naperville

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60563

  - **Telephone number:** 6302457200

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

- **a. Name of Series:** Calamos Strategic Total Return Fund

- **c. LEI of Series:** 54930048NQ2YBS3TXW78

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

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $3384646824.66

**Total Liabilities:** $1131324050.54

**Net Assets:** $2253322774.12

**Cash Not Reported:** $157924452.01

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -99.077566200000 | **1-Year:** -2855.380000000000 | **5-Year:** -11488.960000000000 | **10-Year:** -10388.860000000000 | **30-Year:** -5436.160000000000

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

- **3-Month:** -735.016517900000 | **1-Year:** -28967.070000000000 | **5-Year:** -99524.700000000000 | **10-Year:** -32215.140000000000 | **30-Year:** -9692.530000000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 6.01%                | -6.76%               | 7.86%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $5555045.21              | $119411686.99                              |
| Month 2  | $10474563.21             | $-162414263.43                             |
| Month 3  | $7247410.50              | $156341822.37                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AIR LEASE CORP                                      | AIR LEASE CORP JR SUBORDINA 12/99 VAR                       | CUSIP: 00912XBK9<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   1520000 | PA      | $1182180.00   | 0.05%             | 2063-01-31      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| AIR TRANSPORT SERVICES G                            | AIR TRANSPORT SERVICES G SR UNSECURED 10/24 1.125           | CUSIP: N/A<br>LEI: 5493000F3MSFGIXTQE27       | Long             | DBT              | CORP              | US        |   4600000 | PA      | $4879220.00   | 0.22%             | 2024-10-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD PPTY REIT INC                            | BROOKFIELD PPTY REIT INC SR SECURED 144A 05/26 5.75         | CUSIP: 11284DAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1547000 | PA      | $1459346.98   | 0.06%             | 2026-05-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP                                 | BUCKEYE PARTNERS LP SR UNSECURED 11/43 5.85                 | CUSIP: 118230AM3<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    600000 | PA      | $461634.00    | 0.02%             | 2043-11-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| PTC INC                                             | PTC INC COMPANY GUAR 144A 02/28 4                           | CUSIP: 69370CAC4<br>LEI: 54930050SSMU8SKDJ030 | Long             | DBT              | CORP              | US        |    784000 | PA      | $731103.52    | 0.03%             | 2028-02-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| PACIRA PHARMACEUTICALS                              | PACIRA PHARMACEUTICALS SR UNSECURED 08/25 0.75              | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   7755000 | PA      | $7130722.50   | 0.32%             | 2025-08-01      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| AKAMAI TECHNOLOGIES INC                             | AKAMAI TECHNOLOGIES INC SR UNSECURED 09/27 0.375            | CUSIP: N/A<br>LEI: OC1LZNN2LF5WTJ5RIL89       | Long             | DBT              | CORP              | US        |   4230000 | PA      | $4210161.30   | 0.19%             | 2027-09-01      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| ALASKA AIRLINES 2020 TR                             | ALASKA AIRLINES 2020 TR PASS THRU CE 144A 02/29 4.8         | CUSIP: 01166VAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1180513 | PA      | $1152475.67   | 0.05%             | 2027-08-15      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| PADAGIS LLC                                         | PADAGIS LLC TERM LOAN B                                     | CUSIP: 69526PAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1261176 | PA      | $1177100.14   | 0.05%             | 2028-07-06      | Floating      | 9.77%                 | No            |                  2 | On Loan: No      |
| PALO ALTO NETWORKS                                  | PALO ALTO NETWORKS SR UNSECURED 06/25 0.375                 | CUSIP: N/A<br>LEI: 549300QXR2YVZV231H43       | Long             | DBT              | CORP              | US        |   3520000 | PA      | $5780966.40   | 0.26%             | 2025-06-01      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP                                 | BUCKEYE PARTNERS LP SR UNSECURED 12/26 3.95                 | CUSIP: 118230AQ4<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    900000 | PA      | $826812.00    | 0.04%             | 2026-12-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: —       |
| BURFORD CAPITAL GLBL FIN                            | BURFORD CAPITAL GLBL FIN COMPANY GUAR 144A 04/30 6.875      | CUSIP: 12116LAC3<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1098180.00   | 0.05%             | 2030-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| AFFILIATED MANAGERS GROUP INC                       | AFFILIATED MANAGERS GROUP COMMON STOCK USD.01               | CUSIP: N/A<br>LEI: 2JE75BUE3T1BLCYYGK54       | Long             | EC               | CORP              | US        |     35430 | NS      | $6120178.20   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| AFFILIATED MANAGERS GROU                            | AFFILIATED MANAGERS GROU PREFERRED STOCK 09/60 4.75         | CUSIP: N/A<br>LEI: 2JE75BUE3T1BLCYYGK54       | Long             | EP               | CORP              | US        |      3400 | NS      | $68000.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| PAR PETRO LLC / FIN CORP                            | PAR PETRO LLC / FIN CORP SR SECURED 144A 12/25 7.75         | CUSIP: 69889MAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1082000 | PA      | $1069048.46   | 0.05%             | 2025-12-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| PARK INTERMED HOLDINGS                              | PARK INTERMED HOLDINGS SR SECURED 144A 10/28 5.875          | CUSIP: 70052LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    592000 | PA      | $548328.16    | 0.02%             | 2028-10-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| ALASKA AIR 2020-1 CL B                              | ALASKA AIR 2020 1 CL B PASS THRU CE 144A 02/27 8            | CUSIP: 01166WAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    702262 | PA      | $716321.19    | 0.03%             | 2025-08-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                              | ALBERTSONS COS/SAFEWAY COMPANY GUAR 144A 02/28 5.875        | CUSIP: 013092AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    900000 | PA      | $880767.00    | 0.04%             | 2028-02-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| COMMSCOPE INC                                       | COMMSCOPE INC SR SECURED 144A 09/29 4.75                    | CUSIP: 203372AX5<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $915959.00    | 0.04%             | 2029-09-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| FLY LEASING LTD                                     | FLY LEASING LTD SR UNSECURED 144A 10/24 7                   | CUSIP: 14308CAA1<br>LEI: 549300LI58A0MHGHTZ98 | Long             | DBT              | CORP              | BM        |    880000 | PA      | $767421.60    | 0.03%             | 2024-10-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| CEDAR FAIR LP                                       | CEDAR FAIR LP COMPANY GUAR 07/29 5.25                       | CUSIP: 150190AE6<br>LEI: 549300TUVLNQQ6BVKH61 | Long             | DBT              | CORP              | US        |    900000 | PA      | $829737.00    | 0.04%             | 2029-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AES CORP/THE                                        | AES CORP/THE PREFERRED STOCK 02/24 6.875                    | CUSIP: N/A<br>LEI: 2NUNNB7D43COUIRE5295       | Long             | EP               | CORP              | US        |    209525 | NS      | $20918976.00  | 0.93%             |  |  |  | No            |                  1 | On Loan: —       |
| AFFILIATED MANAGERS GROUP INC                       | AMG CAPITAL TRUST II PREFERRED STOCK 10/37 5.15             | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     80250 | NS      | $4245867.00   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| ALPHABET INC                                        | ALPHABET INC CL C COMMON STOCK USD.001                      | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    199700 | NS      | $19944039.00  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| ENERSYS                                             | ENERSYS COMPANY GUAR 144A 12/27 4.375                       | CUSIP: 29275YAC6<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | DBT              | CORP              | US        |    575000 | PA      | $531748.50    | 0.02%             | 2027-12-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| AT&T INC                                            | AT+T INC PREFERRED STOCK 11/66 5.35                         | CUSIP: 00206R300<br>LEI: 549300Z40J86GGSTL398 | Long             | EP               | CORP              | US        |      3485 | NS      | $83674.85     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T INC                                            | AT+T INC PREFERRED STOCK 4.75                               | CUSIP: 00206R706<br>LEI: 549300Z40J86GGSTL398 | Long             | EP               | CORP              | US        |      8482 | NS      | $177952.36    | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| AT&T INC                                            | AT+T INC COMMON STOCK USD1.0                                | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |    264885 | NS      | $5395707.45   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| BOOKING HOLDINGS INC                                | BOOKING HOLDINGS INC COMMON STOCK USD.008                   | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |      4520 | NS      | $11002132.00  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| ENSTAR FINANCE LLC                                  | ENSTAR FINANCE LLC COMPANY GUAR 01/42 VAR                   | CUSIP: 29360AAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $62185.50     | 0.00%             | 2042-01-15      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| ENTERCOM MEDIA CORP                                 | ENTERCOM MEDIA CORP SECURED 144A 03/29 6.75                 | CUSIP: 29365DAB5<br>LEI: 549300S5JUSXRHNCHD80 | Long             | DBT              | CORP              | US        |   1479000 | PA      | $265791.09    | 0.01%             | 2029-03-31      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| PARKLAND CORP                                       | PARKLAND CORP COMPANY GUAR 144A 07/27 5.875                 | CUSIP: 70137TAP0<br>LEI: 549300XHQS1JYWBNK868 | Long             | DBT              | CORP              | CA        |   1270000 | PA      | $1221054.20   | 0.05%             | 2027-07-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| PARTNERRE FINANCE B LLC                             | PARTNERRE FINANCE B LLC COMPANY GUAR 10/50 VAR              | CUSIP: 70213BAC5<br>LEI: 549300O0FAGHK2F79881 | Long             | DBT              | CORP              | US        |    442000 | PA      | $397097.22    | 0.02%             | 2050-10-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: —       |
| ALLSTATE CORP                                       | ALLSTATE CORP SUBORDINATED 08/53 VAR                        | CUSIP: 020002BB6<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | DBT              | CORP              | US        |    140000 | PA      | $138264.00    | 0.01%             | 2053-08-15      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| BWX TECHNOLOGIES INC                                | BWX TECHNOLOGIES INC COMPANY GUAR 144A 04/29 4.125          | CUSIP: 05605HAC4<br>LEI: 549300NP85N265KWMS58 | Long             | DBT              | CORP              | US        |   1191000 | PA      | $1077890.73   | 0.05%             | 2029-04-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| PATAGONIA HOLDCO LLC                                | PATAGONIA HOLDCO LLC TERM LOAN B1                           | CUSIP: 70289FAD3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1197000 | PA      | $1011465.00   | 0.04%             | 2029-08-01      | Floating      | 9.97%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY INC                              | CENTERPOINT ENERGY INC JR SUBORDINA 12/99 VAR               | CUSIP: 15189TAS6<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |     65000 | PA      | $63960.00     | 0.00%             | 2063-01-31      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| CENTRAL GARDEN & PET CO                             | CENTRAL GARDEN + PET CO COMPANY GUAR 144A 04/31 4.125       | CUSIP: 153527AP1<br>LEI: 5493004DVZLD37DJ0H83 | Long             | DBT              | CORP              | US        |   1358000 | PA      | $1140923.70   | 0.05%             | 2031-04-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| PLAYTIKA HOLDING CORP                               | PLAYTIKA HOLDING CORP COMPANY GUAR 144A 03/29 4.25          | CUSIP: 72815LAA5<br>LEI: 254900E35Z4TKA4UFG64 | Long             | DBT              | CORP              | US        |    590000 | PA      | $490614.50    | 0.02%             | 2029-03-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| POST HOLDINGS INC                                   | POST HOLDINGS INC COMPANY GUAR 144A 03/27 5.75              | CUSIP: 737446AM6<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    505000 | PA      | $498369.35    | 0.02%             | 2027-03-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                               | ICAHN ENTERPRISES/FIN COMPANY GUAR 05/27 5.25               | CUSIP: 451102BZ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    888000 | PA      | $832073.76    | 0.04%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| II-VI INCORPORATED                                  | II VI INCORPORATED 2022 TERM LOAN B                         | CUSIP: 45173JAQ7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1175571 | PA      | $1175201.12   | 0.05%             | 2029-07-01      | Floating      | 8.35%                 | No            |                  2 | On Loan: No      |
| BOSTON SCIENTIFIC CORP                              | BOSTON SCIENTIFIC CORP PREFERRED STOCK 06/23 5.5            | CUSIP: N/A<br>LEI: Y6ZDD9FP4P8JSSJMW954       | Long             | EP               | CORP              | US        |     85355 | NS      | $9741566.15   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                             | BRISTOL MYERS SQUIBB CO COMMON STOCK USD.1                  | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |    225090 | NS      | $16352788.50  | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| ENDURANCE INTERNATIONAL                             | ENDURANCE INTERNATIONAL SR UNSECURED 144A 02/29 6           | CUSIP: 29279XAA8<br>LEI: 549300UTQC2651SB0W88 | Long             | DBT              | CORP              | US        |   1472000 | PA      | $1069084.16   | 0.05%             | 2029-02-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| ENLINK MIDSTREAM PARTNER                            | ENLINK MIDSTREAM PARTNER SR UNSECURED 07/26 4.85            | CUSIP: 29336UAF4<br>LEI: 88CPW63VL7KHJWS0NY83 | Long             | DBT              | CORP              | US        |   1285000 | PA      | $1249996.60   | 0.06%             | 2026-07-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| ABBOTT LABORATORIES                                 | ABBOTT LABORATORIES COMMON STOCK                            | CUSIP: N/A<br>LEI: HQD377W2YR662HK5JX27       | Long             | EC               | CORP              | US        |    220665 | NS      | $24394515.75  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ABBVIE INC                                          | ABBVIE INC COMMON STOCK USD.01                              | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |    118475 | NS      | $17504681.25  | 0.78%             |  |  |  | No            |                  1 | On Loan: —       |
| IEA ENERGY SERVICES LLC                             | IEA ENERGY SERVICES LLC COMPANY GUAR 144A 08/29 6.625       | CUSIP: 45174AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1385000 | PA      | $1360734.80   | 0.06%             | 2029-08-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| ING GROEP NV                                        | ING GROEP NV JR SUBORDINA 12/99 VAR                         | CUSIP: 456837AY9<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $162838.00    | 0.01%             | 2063-05-16      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                  | ENERGY TRANSFER LP MLP                                      | CUSIP: 29273V100<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EC               | CORP              | US        |     82935 | NS      | $1101376.80   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ENERGY TRANSFER LP                                  | ENERGY TRANSFER LP PREFERRED STOCK VAR                      | CUSIP: 29273V506<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EP               | CORP              | US        |     12420 | NS      | $300439.80    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ENTERCOM MEDIA CORP                                 | ENTERCOM MEDIA CORP SECURED 144A 05/27 6.5                  | CUSIP: 29365DAA7<br>LEI: 549300S5JUSXRHNCHD80 | Long             | DBT              | CORP              | US        |    538000 | PA      | $93671.18     | 0.00%             | 2027-05-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS PARTNERS LP                     | ENTERPRISE PRODUCTS PARTNERS MLP                            | CUSIP: 293792107<br>LEI: K4CDIF4M54DJZ6TB4Q48 | Long             | EC               | CORP              | US        |     49155 | NS      | $1258368.00   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC                                        | BROADCOM INC COMMON STOCK                                   | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     54444 | NS      | $31850284.44  | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| CNO FINANCIAL GROUP INC                             | CNO FINANCIAL GROUP INC PREFERRED STOCK 11/60 5.125         | CUSIP: N/A<br>LEI: 11XPYHB76MPM4Y4P2897       | Long             | EP               | CORP              | US        |     10725 | NS      | $194980.50    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ING GROEP NV                                        | ING GROEP NV JR SUBORDINA 12/99 VAR                         | CUSIP: 456837AZ6<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $151510.00    | 0.01%             | 2063-01-31      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| INNOPHOS INC.                                       | INNOPHOS INC 2020 TERM LOAN B                               | CUSIP: 45778EAG9<br>LEI: XQ0331QX53IRX25OY417 | Long             | LON              | CORP              | US        |   1485800 | PA      | $1484871.38   | 0.07%             | 2027-02-07      | Floating      | 8.99%                 | No            |                  2 | On Loan: No      |
| ADOBE INC                                           | ADOBE INC COMMON STOCK USD.0001                             | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |     21770 | NS      | $8062301.80   | 0.36%             |  |  |  | No            |                  1 | On Loan: —       |
| ADVANCED MICRO DEVICES INC                          | ADVANCED MICRO DEVICES COMMON STOCK USD.01                  | CUSIP: N/A<br>LEI: R2I72C950HOYXII45366       | Long             | EC               | CORP              | US        |     44250 | NS      | $3325387.50   | 0.15%             |  |  |  | No            |                  1 | On Loan: —       |
| CSX CORP                                            | CSX CORP COMMON STOCK USD1.0                                | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |    777890 | NS      | $24052358.80  | 1.07%             |  |  |  | No            |                  1 | On Loan: —       |
| CHEVRON CORP                                        | CHEVRON CORP COMMON STOCK USD.75                            | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    128625 | NS      | $22383322.50  | 0.99%             |  |  |  | No            |                  1 | On Loan: —       |
| CISCO SYSTEMS INC                                   | CISCO SYSTEMS INC COMMON STOCK USD.001                      | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |    247515 | NS      | $12046555.05  | 0.53%             |  |  |  | No            |                  1 | On Loan: —       |
| CITIGROUP INC                                       | CITIGROUP INC COMMON STOCK USD.01                           | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |    231670 | NS      | $12097807.40  | 0.54%             |  |  |  | No            |                  1 | On Loan: —       |
| PREMIER ENTERTAINMENT SU                            | PREMIER ENTERTAINMENT SU COMPANY GUAR 144A 09/29 5.625      | CUSIP: 74052HAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1670000 | PA      | $1216929.00   | 0.05%             | 2029-09-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| PRESTIGE BRANDS INC                                 | PRESTIGE BRANDS INC COMPANY GUAR 144A 04/31 3.75            | CUSIP: 74112BAM7<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |   1124000 | PA      | $954939.16    | 0.04%             | 2031-04-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| ALPHABET INC                                        | ALPHABET INC CL A COMMON STOCK USD.001                      | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    661840 | NS      | $65416265.60  | 2.90%             |  |  |  | No            |                  1 | On Loan: —       |
| ALTICE USA INC                                      | ALTICE USA INC  A COMMON STOCK USD.01                       | CUSIP: 02156K103<br>LEI: 54930064K3612MGCER95 | Long             | EC               | CORP              | US        |     25095 | NS      | $122965.50    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| COCA-COLA CO/THE                                    | COCA COLA CO/THE COMMON STOCK USD.25                        | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |    459960 | NS      | $28204747.20  | 1.25%             |  |  |  | No            |                  1 | On Loan: —       |
| COMMSCOPE TECH LLC                                  | COMMSCOPE TECH LLC COMPANY GUAR 144A 06/25 6                | CUSIP: 20337YAA5<br>LEI: M4TWC4QDOKW45N7T6Y12 | Long             | DBT              | CORP              | US        |   1201000 | PA      | $1139136.49   | 0.05%             | 2025-06-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| INTEGRA LIFESCIENCES HLD                            | INTEGRA LIFESCIENCES HLD SR UNSECURED 08/25 0.5             | CUSIP: N/A<br>LEI: WB7IJCYY8YFTENS4O147       | Long             | DBT              | CORP              | US        |   3960000 | PA      | $3870741.60   | 0.17%             | 2025-08-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | ESC GCB INTELSAT JACKS 08/23 5.5                            | CUSIP: N/A<br>LEI: 8XJ8KF85PBKK1TLMFN29       | Long             | DBT              | CORP              | LU        |    585000 | PA      | $0.59         | 0.00%             | 2023-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GENERAL ELECTRIC CO                                 | GENERAL ELECTRIC CO COMMON STOCK USD.01                     | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |    104568 | NS      | $8415632.64   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| CONMED CORP                                         | CONMED CORP SR UNSECURED 144A 06/27 2.25                    | CUSIP: N/A<br>LEI: Z6C0YCECH9DCU5ZIQW84       | Long             | DBT              | CORP              | US        |   4640000 | PA      | $4412454.40   | 0.20%             | 2027-06-15      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| CONSOLIDATED COMMUNICATI                            | CONSOLIDATED COMMUNICATI SR SECURED 144A 10/28 6.5          | CUSIP: 20903XAF0<br>LEI: 549300WW675Y48HDVX34 | Long             | DBT              | CORP              | US        |   1815000 | PA      | $1483762.50   | 0.07%             | 2028-10-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER CO INC                      | AMERICAN ELECTRIC POWER PREFERRED STOCK 08/23 6.125         | CUSIP: N/A<br>LEI: 1B4S6S7G0TW5EE83BO58       | Long             | EP               | CORP              | US        |    586575 | NS      | $30179283.75  | 1.34%             |  |  |  | No            |                  1 | On Loan: —       |
| AMERICAN EXPRESS CO                                 | AMERICAN EXPRESS CO COMMON STOCK USD.2                      | CUSIP: N/A<br>LEI: R4PP93JZOLY261QX3811       | Long             | EC               | CORP              | US        |     59230 | NS      | $10361103.90  | 0.46%             |  |  |  | No            |                  1 | On Loan: —       |
| N/A                                                 | ESC CB144A INTELSAT JA 07/25 9.75                           | CUSIP: N/A<br>LEI: 8XJ8KF85PBKK1TLMFN29       | Long             | DBT              | CORP              | LU        |    900000 | PA      | $0.90         | 0.00%             | 2025-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| INTERNATIONAL GAME TECH                             | INTERNATIONAL GAME TECH SR SECURED 144A 01/27 6.25          | CUSIP: 460599AD5<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |   1500000 | PA      | $1508310.00   | 0.07%             | 2027-01-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| AMAZON.COM INC                                      | AMAZON.COM INC COMMON STOCK USD.01                          | CUSIP: N/A<br>LEI: ZXTILKJKG63JELOEG630       | Long             | EC               | CORP              | US        |    652300 | NS      | $67271699.00  | 2.99%             |  |  |  | No            |                  1 | On Loan: —       |
| NECESSITY RETAIL REIT IN                            | NECESSITY RETAIL REIT IN PREFERRED STOCK 7.5                | CUSIP: 02607T406<br>LEI: 549300GN4H0K3IUS8983 | Long             | EC               | CORP              | US        |      1951 | NS      | $46433.80     | 0.00%             | 2049-12-31      | Fixed         | 7.50%                 | No            |                  1 | On Loan: No      |
| QVC INC                                             | QVC INC SR SECURED 08/34 5.45                               | CUSIP: 747262AW3<br>LEI: 549300WBLU5NKPX5X472 | Long             | DBT              | CORP              | US        |    600000 | PA      | $354810.00    | 0.02%             | 2034-08-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| QVC INC                                             | QVC INC SR SECURED 09/28 4.375                              | CUSIP: 747262AZ6<br>LEI: 549300WBLU5NKPX5X472 | Long             | DBT              | CORP              | US        |    709000 | PA      | $455851.55    | 0.02%             | 2028-09-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CONSTELLIUM SE                                      | CONSTELLIUM SE COMPANY GUAR 144A 04/29 3.75                 | CUSIP: 21039CAB0<br>LEI: 724500KRJEMC79KAAU28 | Long             | DBT              | CORP              | FR        |   1375000 | PA      | $1177165.00   | 0.05%             | 2029-04-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: —       |
| CONTINENTAL RESOURCES                               | CONTINENTAL RESOURCES COMPANY GUAR 144A 01/31 5.75          | CUSIP: 212015AT8<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |    610000 | PA      | $599526.30    | 0.03%             | 2031-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN INTERNATIONAL GROUP INC                    | AMERICAN INTERNATIONAL GROUP COMMON STOCK USD2.5            | CUSIP: N/A<br>LEI: ODVCVCQG2BP6VHV36M30       | Long             | EC               | CORP              | US        |    346890 | NS      | $21930385.80  | 0.97%             |  |  |  | No            |                  1 | On Loan: —       |
| AMERICAN TOWER CORP                                 | AMERICAN TOWER CORP REIT USD.01                             | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     70930 | NS      | $15845052.70  | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERNATIONAL GAME TECH                             | INTERNATIONAL GAME TECH SR SECURED 144A 04/26 4.125         | CUSIP: 460599AF0<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $381072.00    | 0.02%             | 2026-04-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| STONEX GROUP INC                                    | STONEX GROUP INC SR SECURED 144A 06/25 8.625                | CUSIP: 46116VAE5<br>LEI: 549300JUF07L8VF02M60 | Long             | DBT              | CORP              | US        |   1225000 | PA      | $1242370.50   | 0.06%             | 2025-06-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                            | ENTERPRISE PRODUCTS OPER COMPANY GUAR 08/77 VAR             | CUSIP: 29379VBM4<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |     75000 | PA      | $71304.00     | 0.00%             | 2077-08-16      | Variable      | 7.63%                 | No            |                  2 | On Loan: No      |
| ENVISTA HOLDINGS CORP                               | ENVISTA HOLDINGS CORP SR UNSECURED 06/25 2.375              | CUSIP: N/A<br>LEI: 549300BX623VURJZ5269       | Long             | DBT              | CORP              | US        |   3673000 | PA      | $7021563.91   | 0.31%             | 2025-06-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| CONTINENTAL RESOURCES                               | CONTINENTAL RESOURCES COMPANY GUAR 144A 04/32 2.875         | CUSIP: 212015AV3<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |    900000 | PA      | $706626.00    | 0.03%             | 2032-04-01      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                            | COREBRIDGE FINANCIAL INC JR SUBORDINA 144A 12/52 VAR        | CUSIP: 21871XAN9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $69260.80     | 0.00%             | 2052-12-15      | Variable      | 6.88%                 | Yes           |                  2 | On Loan: No      |
| BP PLC                                              | BP PLC SPONS ADR ADR                                        | CUSIP: N/A<br>LEI: 213800LH1BZH3DI6G760       | Long             | EC               | CORP              | GB        |    475000 | NS      | $17209250.00  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| B RILEY FINANCIAL INC                               | B RILEY FINANCIAL INC PREFERRED STOCK 08/28 5.25            | CUSIP: 05580M819<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     34797 | NS      | $739088.28    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ANNALY CAPITAL MGMT                                 | ANNALY CAPITAL MGMT PREFERRED STOCK VAR                     | CUSIP: N/A<br>LEI: 2DTL0G3FPRYUT58TI025       | Long             | EP               | CORP              | US        |      5970 | NS      | $148354.50    | 0.01%             | 2063-11-30      | Variable      | 9.97%                 | No            |                  1 | On Loan: No      |
| ELEVANCE HEALTH INC                                 | ELEVANCE HEALTH INC COMMON STOCK USD.01                     | CUSIP: N/A<br>LEI: 8MYN82XMYQH89CTMTH67       | Long             | EC               | CORP              | US        |     23435 | NS      | $11717265.65  | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| EVERI HOLDINGS INC                                  | EVERI HOLDINGS INC COMPANY GUAR 144A 07/29 5                | CUSIP: 30034TAA1<br>LEI: 5299006DK5S7BG10K532 | Long             | DBT              | CORP              | US        |   1308000 | PA      | $1184550.96   | 0.05%             | 2029-07-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| FAIR ISAAC CORP                                     | FAIR ISAAC CORP SR UNSECURED 144A 06/28 4                   | CUSIP: 303250AF1<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |    586000 | PA      | $544845.22    | 0.02%             | 2028-06-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| APPLE INC                                           | APPLE INC COMMON STOCK USD.00001                            | CUSIP: N/A<br>LEI: HWUPKR0MPOU8FGXBT394       | Long             | EC               | CORP              | US        |   1106065 | NS      | $159594118.85 | 7.08%             |  |  |  | No            |                  1 | On Loan: —       |
| APPLIED MATERIALS INC                               | APPLIED MATERIALS INC COMMON STOCK USD.01                   | CUSIP: N/A<br>LEI: 41BNNE1AFPNAZELZ6K07       | Long             | EC               | CORP              | US        |     84440 | NS      | $9414215.60   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| CREDIT ACCEPTANC                                    | CREDIT ACCEPTANC COMPANY GUAR 03/26 6.625                   | CUSIP: 225310AM3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1373370.00   | 0.06%             | 2026-03-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: —       |
| CREDIT ACCEPTANC                                    | CREDIT ACCEPTANC COMPANY GUAR 144A 12/24 5.125              | CUSIP: 225310AN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1092000 | PA      | $1027845.00   | 0.05%             | 2024-12-31      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                   | IRON MOUNTAIN INC COMPANY GUAR 144A 03/28 5.25              | CUSIP: 46284VAE1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |   2470000 | PA      | $2351143.60   | 0.10%             | 2028-03-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| JBS USA/FOOD/FINANCE                                | JBS USA/FOOD/FINANCE SR UNSECURED 144A 01/30 5.5            | CUSIP: 46590XAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1770000 | PA      | $1721183.40   | 0.08%             | 2030-01-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG                              | CREDIT SUISSE GROUP AG JR SUBORDINA 144A 12/49 VAR          | CUSIP: 22546DAB2<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $189584.00    | 0.01%             | 2063-06-11      | Variable      | 7.50%                 | Yes           |                  2 | On Loan: No      |
| CYBERARK SOFTWARE LTD                               | CYBERARK SOFTWARE LTD SR UNSECURED 11/24 0.00000            | CUSIP: N/A<br>LEI: 529900YEXNDM894PWS93       | Long             | DBT              | CORP              | IL        |  17000000 | PA      | $18736040.00  | 0.83%             | 2024-11-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| JBS USA/FOOD/FINANCE                                | JBS USA/FOOD/FINANCE COMPANY GUAR 144A 02/28 5.125          | CUSIP: 46590XAG1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1340000 | PA      | $1314486.40   | 0.06%             | 2028-02-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| JBS USA/FOOD/FINANCE                                | JBS USA/FOOD/FINANCE COMPANY GUAR 144A 04/33 5.75           | CUSIP: 46590XAH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    440000 | PA      | $433400.00    | 0.02%             | 2033-04-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| ASSURANT INC                                        | ASSURANT INC COMMON STOCK USD.01                            | CUSIP: 04621X108<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | EC               | CORP              | US        |     29983 | NS      | $3975445.97   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF NEW YORK MELLON CORP/THE                    | BANK OF NEW YORK MELLON CORP COMMON STOCK USD.01            | CUSIP: N/A<br>LEI: WFLLPEPC7FZXENRZV188       | Long             | EC               | CORP              | US        |     71870 | NS      | $3634465.90   | 0.16%             |  |  |  | No            |                  1 | On Loan: —       |
| DCP MIDSTREAM OPERATING                             | DCP MIDSTREAM OPERATING COMPANY GUAR 144A 05/43 VAR         | CUSIP: 23311RAH9<br>LEI: VQOHU6HCVU6YY1KUKU03 | Long             | DBT              | CORP              | US        |   1950000 | PA      | $1931514.00   | 0.09%             | 2043-05-21      | Variable      | 5.85%                 | Yes           |                  2 | On Loan: No      |
| DTE ENERGY CO                                       | DTE ENERGY COMPANY COMMON STOCK                             | CUSIP: 233331107<br>LEI: 549300IX8SD6XXD71I78 | Long             | EC               | CORP              | US        |    255754 | NS      | $29762151.17  | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OZK                                            | BANK OZK PREFERRED STOCK 4.625                              | CUSIP: 06417N202<br>LEI: 549300VYK2WBD7SST478 | Long             | EP               | CORP              | US        |      1450 | NS      | $27187.50     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKROCK INC                                       | BLACKROCK INC COMMON STOCK USD.01                           | CUSIP: 09247X101<br>LEI: 549300LRIF3NWCU26A80 | Long             | EC               | CORP              | US        |     10715 | NS      | $8134935.15   | 0.36%             |  |  |  | No            |                  1 | On Loan: —       |
| DTE ENERGY CO                                       | DTE ENERGY CO PREFERRED STOCK 12/77 5.25                    | CUSIP: 233331859<br>LEI: 549300IX8SD6XXD71I78 | Long             | EP               | CORP              | US        |      5100 | NS      | $126480.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| DT MIDSTREAM INC                                    | DT MIDSTREAM INC COMPANY GUAR 144A 06/29 4.125              | CUSIP: 23345MAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    921000 | PA      | $813381.15    | 0.04%             | 2029-06-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| JW ALUMINUM CONT CAST CO                            | JW ALUMINUM CONT CAST CO SR SECURED 144A 06/26 10.25        | CUSIP: 46648XAA6<br>LEI: 5493008HJ8BWQC8XAF08 | Long             | DBT              | CORP              | US        |    900000 | PA      | $915093.00    | 0.04%             | 2026-06-01      | Fixed         | 10.25%                | Yes           |                  2 | On Loan: No      |
| JAZZ INVESTMENTS I LTD                              | JAZZ INVESTMENTS I LTD COMPANY GUAR 06/26 2                 | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | BM        |  15740000 | PA      | $18564543.00  | 0.82%             | 2026-06-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| COMCAST CORP                                        | COMCAST CORP CLASS A COMMON STOCK USD.01                    | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |    411425 | NS      | $16189573.75  | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| CONOCOPHILLIPS                                      | CONOCOPHILLIPS COMMON STOCK USD.01                          | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     86435 | NS      | $10533833.45  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| DANA INC                                            | DANA INC SR UNSECURED 09/30 4.25                            | CUSIP: 235825AH9<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |    985000 | PA      | $838106.95    | 0.04%             | 2030-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| DANA INC                                            | DANA INC SR UNSECURED 02/32 4.5                             | CUSIP: 235825AJ5<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |    596000 | PA      | $502952.48    | 0.02%             | 2032-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| COSTCO WHOLESALE CORP                               | COSTCO WHOLESALE CORP COMMON STOCK USD.005                  | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |     31575 | NS      | $16139245.50  | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| DISH DBS CORP                                       | DISH DBS CORP COMPANY GUAR 06/29 5.125                      | CUSIP: 25470XBD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    590000 | PA      | $376154.50    | 0.02%             | 2029-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| DANAHER CORP                                        | DANAHER CORP COMMON STOCK USD.01                            | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |     73270 | NS      | $19371122.60  | 0.86%             |  |  |  | No            |                  1 | On Loan: —       |
| WALT DISNEY CO/THE                                  | WALT DISNEY CO/THE COMMON STOCK USD.01                      | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |    149335 | NS      | $16201354.15  | 0.72%             |  |  |  | No            |                  1 | On Loan: —       |
| FERTITTA ENTERTAINMENT LLC                          | FERTITTA ENTERTAINMENT, LLC 2022 TERM LOAN B                | CUSIP: 31556PAB3<br>LEI: 984500A0805D8V551D35 | Long             | LON              | CORP              | US        |    297750 | PA      | $294793.34    | 0.01%             | 2029-01-27      | Floating      | 8.67%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT                              | FERTITTA ENTERTAINMENT SR SECURED 144A 01/29 4.625          | CUSIP: 31556TAA7<br>LEI: 984500A0805D8V551D35 | Long             | DBT              | CORP              | US        |    596000 | PA      | $526428.92    | 0.02%             | 2029-01-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| DUN & BRADSTREET CORP                               | DUN + BRADSTREET CORP COMPANY GUAR 144A 12/29 5             | CUSIP: 26483EAL4<br>LEI: RI37BMPWE56BCJ747E14 | Long             | DBT              | CORP              | US        |    596000 | PA      | $532305.48    | 0.02%             | 2029-12-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| EQT CORP                                            | EQT CORP SR UNSECURED 05/26 1.75                            | CUSIP: N/A<br>LEI: 4NT01YGM4X7ZX86ISY52       | Long             | DBT              | CORP              | US        |   1365000 | PA      | $3071086.20   | 0.14%             | 2026-05-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| DISCOVER FINANCIAL SERVICES                         | DISCOVER FINANCIAL SERVICES COMMON STOCK USD.01             | CUSIP: 254709108<br>LEI: Z1YLO2USPORE63VVUL20 | Long             | EC               | CORP              | US        |    100000 | NS      | $11673000.00  | 0.52%             |  |  |  | No            |                  1 | On Loan: —       |
| DISH NETWORK CORP                                   | DISH NETWORK CORP SR SECURED 144A 11/27 11.75               | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1245696.00   | 0.06%             | 2027-11-15      | Fixed         | 11.75%                | Yes           |                  2 | On Loan: No      |
| DISH DBS CORP                                       | DISH DBS CORP COMPANY GUAR 07/28 7.375                      | CUSIP: 25470XBB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    739000 | PA      | $532176.07    | 0.02%             | 2028-07-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | EP ENERGY CORP COMMON STOCK                                 | CUSIP: N/A<br>LEI: 549300Z6HPQS1H5IYQ07       | Long             | EC               | CORP              | US        |      7920 | NS      | $62370.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| JAZZ SECURITIES DAC                                 | JAZZ SECURITIES DAC SR SECURED 144A 01/29 4.375             | CUSIP: 47216FAA5<br>LEI: 6354009DV8VV7K6KOO02 | Long             | DBT              | CORP              | IE        |    350000 | PA      | $320365.50    | 0.01%             | 2029-01-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| JEFFERIES FIN LLC / JFIN                            | JEFFERIES FIN LLC / JFIN SR UNSECURED 144A 08/28 5          | CUSIP: 47232MAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2567070.00   | 0.11%             | 2028-08-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| EPR PROPERTIES                                      | EPR PROPERTIES SR UNSECURED 08/29 3.75                      | CUSIP: 26884UAF6<br>LEI: 549300YSSXFHMPOWZ492 | Long             | DBT              | CORP              | US        |    953000 | PA      | $796241.03    | 0.04%             | 2029-08-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                            | EQM MIDSTREAM PARTNERS L SR UNSECURED 144A 06/27 7.5        | CUSIP: 26885BAM2<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |   1370000 | PA      | $1375178.60   | 0.06%             | 2027-06-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| ENPHASE ENERGY INC                                  | ENPHASE ENERGY INC SR UNSECURED 03/28 0.00000               | CUSIP: N/A<br>LEI: 5493008U7KIGMI59Z314       | Long             | DBT              | CORP              | US        |  12325000 | PA      | $13294484.50  | 0.59%             | 2028-03-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT                              | FERTITTA ENTERTAINMENT COMPANY GUAR 144A 01/30 6.75         | CUSIP: 31556TAC3<br>LEI: 984500A0805D8V551D35 | Long             | DBT              | CORP              | US        |   1195000 | PA      | $993427.40    | 0.04%             | 2030-01-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                                  | FORD MOTOR COMPANY SR UNSECURED 03/26 0.00000               | CUSIP: N/A<br>LEI: 20S05OYHG0MQM4VUIC57       | Long             | DBT              | CORP              | US        |  29915000 | PA      | $30457059.80  | 1.35%             | 2026-03-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| JELD-WEN INC                                        | JELD WEN INC COMPANY GUAR 144A 12/25 4.625                  | CUSIP: 475795AC4<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |   1450000 | PA      | $1284975.50   | 0.06%             | 2025-12-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| JETBLUE 2020-1 CLASS B                              | JETBLUE 2020 1 CLASS B PASS THRU CE 05/30 7.75              | CUSIP: 477164AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    897360 | PA      | $885837.90    | 0.04%             | 2028-11-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| EARTHSTONE ENERGY HOL                               | EARTHSTONE ENERGY HOL COMPANY GUAR 144A 04/27 8             | CUSIP: 27034RAA1<br>LEI: 549300HGVO86L8G72J25 | Long             | DBT              | CORP              | US        |   1791000 | PA      | $1748947.32   | 0.08%             | 2027-04-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| ECO MATERIAL TECH INC                               | ECO MATERIAL TECH INC SR SECURED 144A 01/27 7.875           | CUSIP: 27900QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    894000 | PA      | $861807.06    | 0.04%             | 2027-01-31      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| JOHN BEAN TECHNOLOGIES C                            | JOHN BEAN TECHNOLOGIES C SR UNSECURED 05/26 0.25            | CUSIP: N/A<br>LEI: 5493007CT6ATBZ2L6826       | Long             | DBT              | CORP              | US        |  13520000 | PA      | $12526144.80  | 0.56%             | 2026-05-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                 | JPMORGAN CHASE + CO JR SUBORDINA 12/99 VAR                  | CUSIP: 48128BAN1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $993080.00    | 0.04%             | 2063-01-31      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| EDGEWELL PERSONAL CARE                              | EDGEWELL PERSONAL CARE COMPANY GUAR 144A 04/29 4.125        | CUSIP: 28035QAB8<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | DBT              | CORP              | US        |   1349000 | PA      | $1176381.96   | 0.05%             | 2029-04-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                               | CAESARS ENTERTAIN INC SR SECURED 144A 07/25 6.25            | CUSIP: 28470RAH5<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    605000 | PA      | $603136.60    | 0.03%             | 2025-07-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| EMBARQ CORP                                         | EMBARQ CORP SR UNSECURED 06/36 7.995                        | CUSIP: 29078EAA3<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    810000 | PA      | $391343.40    | 0.02%             | 2036-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| EMBECTA CORP                                        | EMBECTA CORP SR SECURED 144A 02/30 5                        | CUSIP: 29082KAA3<br>LEI: 549300RPG8GXVDHNXZ62 | Long             | DBT              | CORP              | US        |    894000 | PA      | $737174.52    | 0.03%             | 2030-02-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                            | FORD MOTOR CREDIT CO LLC SR UNSECURED 02/28 2.9             | CUSIP: 345397B51<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $865460.00    | 0.04%             | 2028-02-16      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                            | FORD MOTOR CREDIT CO LLC SR UNSECURED 05/27 4.95            | CUSIP: 345397C27<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    300000 | PA      | $288315.00    | 0.01%             | 2027-05-28      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| KBR INC                                             | KBR INC COMPANY GUAR 144A 09/28 4.75                        | CUSIP: 48242WAC0<br>LEI: 254900OFQDXZRKRCV808 | Long             | DBT              | CORP              | US        |   1315000 | PA      | $1200844.85   | 0.05%             | 2028-09-30      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| KAISER ALUMINUM CORP                                | KAISER ALUMINUM CORP COMPANY GUAR 144A 03/28 4.625          | CUSIP: 483007AJ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1235682.00   | 0.05%             | 2028-03-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| EMBECTA CORP                                        | EMBECTA CORP SR SECURED 144A 02/30 6.75                     | CUSIP: 29082KAB1<br>LEI: 549300RPG8GXVDHNXZ62 | Long             | DBT              | CORP              | US        |    298000 | PA      | $268810.90    | 0.01%             | 2030-02-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| EMPIRE RESORTS INC                                  | EMPIRE RESORTS INC SR SECURED 144A 11/26 7.75               | CUSIP: 292052AF4<br>LEI: 549300WBFN23L9HI5N68 | Long             | DBT              | CORP              | US        |   1675000 | PA      | $1374287.25   | 0.06%             | 2026-11-01      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| ENBRIDGE INC                                        | ENBRIDGE INC SUBORDINATED 07/80 VAR                         | CUSIP: 29250NBC8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $190270.00    | 0.01%             | 2080-07-15      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                        | ENBRIDGE INC JR SUBORDINA 01/83 VAR                         | CUSIP: 29250NBN4<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    901000 | PA      | $902450.61    | 0.04%             | 2083-01-15      | Variable      | 7.38%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                            | FORD MOTOR CREDIT CO LLC SR UNSECURED 11/27 7.35            | CUSIP: 345397C35<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   2300000 | PA      | $2414632.00   | 0.11%             | 2027-11-04      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                            | FORD MOTOR CREDIT CO LLC SR UNSECURED 03/30 7.35            | CUSIP: 345397C68<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    525000 | PA      | $551811.75    | 0.02%             | 2030-03-06      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| KAISER ALUMINUM CORP                                | KAISER ALUMINUM CORP COMPANY GUAR 144A 06/31 4.5            | CUSIP: 483007AL4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    149000 | PA      | $126252.17    | 0.01%             | 2031-06-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| KEN GARFF AUTOMOTIVE LLC                            | KEN GARFF AUTOMOTIVE LLC SR UNSECURED 144A 09/28 4.875      | CUSIP: 48850PAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1940000 | PA      | $1673347.00   | 0.07%             | 2028-09-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| ENCOMPASS HEALTH CORP                               | ENCOMPASS HEALTH CORP COMPANY GUAR 02/28 4.5                | CUSIP: 29261AAA8<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |    600000 | PA      | $560724.00    | 0.02%             | 2028-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ENCOMPASS HEALTH CORP                               | ENCOMPASS HEALTH CORP COMPANY GUAR 02/30 4.75               | CUSIP: 29261AAB6<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |    600000 | PA      | $550698.00    | 0.02%             | 2030-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                            | FORD MOTOR CREDIT CO LLC SR UNSECURED 08/25 4.134           | CUSIP: 345397XL2<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1338988.00   | 0.06%             | 2025-08-04      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                            | FORD MOTOR CREDIT CO LLC SR UNSECURED 05/29 5.113           | CUSIP: 345397ZR7<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1450000 | PA      | $1375687.50   | 0.06%             | 2029-05-03      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC                              | ENERGIZER HOLDINGS INC COMPANY GUAR 144A 03/29 4.375        | CUSIP: 29272WAD1<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |   1641000 | PA      | $1424798.25   | 0.06%             | 2029-03-31      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC                              | ENERGIZER HOLDINGS INC COMPANY GUAR 144A 12/27 6.5          | CUSIP: 29272WAF6<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |    298000 | PA      | $291321.82    | 0.01%             | 2027-12-31      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| FRONTIER FLORIDA LLC                                | FRONTIER FLORIDA LLC SR UNSECURED 02/28 6.86                | CUSIP: 362333AH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1333000 | PA      | $1240023.25   | 0.06%             | 2028-02-01      | Fixed         | 6.86%                 | No            |                  2 | On Loan: No      |
| FRONTIER NORTH INC                                  | FRONTIER NORTH INC SR UNSECURED 02/28 6.73                  | CUSIP: 362337AK3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1785000 | PA      | $1652945.70   | 0.07%             | 2028-02-15      | Fixed         | 6.73%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                  | ENERGY TRANSFER LP JR SUBORDINA 11/66 VAR                   | CUSIP: 29273RBA6<br>LEI: RY1052DWLDPLDW74Y843 | Long             | DBT              | CORP              | US        |   1735000 | PA      | $1406113.40   | 0.06%             | 2066-11-01      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                  | ENERGY TRANSFER LP JR SUBORDINA 12/99 VAR                   | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1015000 | PA      | $957855.50    | 0.04%             | 2063-01-31      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| BATH & BODY WORKS INC                               | BATH + BODY WORKS INC COMPANY GUAR 11/35 6.875              | CUSIP: 501797AL8<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |   1475000 | PA      | $1361321.75   | 0.06%             | 2035-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BATH & BODY WORKS INC                               | BATH + BODY WORKS INC COMPANY GUAR 01/27 6.694              | CUSIP: 501797AQ7<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |   1577000 | PA      | $1589742.16   | 0.07%             | 2027-01-15      | Fixed         | 6.69%                 | No            |                  2 | On Loan: No      |
| GAP INC/THE                                         | GAP INC/THE COMPANY GUAR 144A 10/31 3.875                   | CUSIP: 364760AQ1<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | DBT              | CORP              | US        |    447000 | PA      | $335236.59    | 0.01%             | 2031-10-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: —       |
| GENERAL MOTORS FINL CO                              | GENERAL MOTORS FINL CO JR SUBORDINA 12/99 VAR               | CUSIP: 37045XCM6<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    125000 | PA      | $118106.25    | 0.01%             | 2063-01-31      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| ENLINK MIDSTREAM LLC                                | ENLINK MIDSTREAM LLC COMPANY GUAR 144A 09/30 6.5            | CUSIP: 29336TAD2<br>LEI: 54930000GY1H533OBE23 | Long             | DBT              | CORP              | US        |    595000 | PA      | $607239.15    | 0.03%             | 2030-09-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| ENLINK MIDSTREAM PARTNER                            | ENLINK MIDSTREAM PARTNER JR SUBORDINA 12/99 VAR             | CUSIP: 29336UAH0<br>LEI: 88CPW63VL7KHJWS0NY83 | Long             | EP               | CORP              | US        |   1775000 | PA      | $1494248.25   | 0.07%             | 2063-09-21      | Variable      | 8.96%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                              | GENERAL MOTORS FINL CO JR SUBORDINA 12/99 VAR               | CUSIP: 37045XDB9<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    185000 | PA      | $172338.60    | 0.01%             | 2063-01-31      | Variable      | 5.70%                 | No            |                  2 | On Loan: —       |
| GENESIS ENERGY LP/FIN                               | GENESIS ENERGY LP/FIN COMPANY GUAR 05/26 6.25               | CUSIP: 37185LAK8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1173000 | PA      | $1125634.26   | 0.05%             | 2026-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| LCPR SR SECURED FIN DAC                             | LCPR SR SECURED FIN DAC SR SECURED 144A 10/27 6.75          | CUSIP: 50201DAA1<br>LEI: 549300LE5FM8IKMXSP90 | Long             | DBT              | CORP              | IE        |   1480000 | PA      | $1442496.80   | 0.06%             | 2027-10-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| LPL HOLDINGS INC                                    | LPL HOLDINGS INC COMPANY GUAR 144A 03/29 4                  | CUSIP: 50212YAD6<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    892000 | PA      | $798777.08    | 0.04%             | 2029-03-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| ENPHASE ENERGY INC                                  | ENPHASE ENERGY INC SR UNSECURED 03/26 0.00000               | CUSIP: N/A<br>LEI: 5493008U7KIGMI59Z314       | Long             | DBT              | CORP              | US        |   7055000 | PA      | $7443942.15   | 0.33%             | 2026-03-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                               | ICAHN ENTERPRISES/FIN COMPANY GUAR 02/29 4.375              | CUSIP: 451102CC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    892000 | PA      | $778252.16    | 0.03%             | 2029-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                               | GENESIS ENERGY LP/FIN SR UNSECURED 04/30 8.875              | CUSIP: 37185LAN2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $305082.00    | 0.01%             | 2030-04-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| ENACT HOLDINGS INC                                  | ENACT HOLDINGS INC SR UNSECURED 144A 08/25 6.5              | CUSIP: 37255LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1533000 | PA      | $1512396.48   | 0.07%             | 2025-08-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| GO DADDY OPCO/FINCO                                 | GO DADDY OPCO/FINCO COMPANY GUAR 144A 12/27 5.25            | CUSIP: 38016LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    301000 | PA      | $291885.72    | 0.01%             | 2027-12-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| GO DADDY OPCO/FINCO                                 | GO DADDY OPCO/FINCO COMPANY GUAR 144A 03/29 3.5             | CUSIP: 38016LAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1030000 | PA      | $892237.50    | 0.04%             | 2029-03-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| LSF11 A5 HOLDCO LLC                                 | LSF11 A5 HOLDCO LLC TERM LOAN                               | CUSIP: 50216YAB6<br>LEI: 254900FPK7P5WNA66Y10 | Long             | LON              | CORP              | US        |    595500 | PA      | $578876.62    | 0.03%             | 2028-10-13      | Floating      | 9.37%                 | No            |                  2 | On Loan: No      |
| LIFE TIME FITNESS INC                               | LIFE TIME FITNESS INC 2021 TERM LOAN B                      | CUSIP: 50218KAG3<br>LEI: 549300PALKE96VYH4X17 | Long             | LON              | CORP              | US        |    402390 | PA      | $403345.39    | 0.02%             | 2024-12-15      | Floating      | 9.73%                 | No            |                  2 | On Loan: No      |
| GOEASY LTD                                          | GOEASY LTD COMPANY GUAR 144A 12/24 5.375                    | CUSIP: 380355AD9<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |   2050000 | PA      | $1967200.50   | 0.09%             | 2024-12-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| GOEASY LTD                                          | GOEASY LTD COMPANY GUAR 144A 05/26 4.375                    | CUSIP: 380355AF4<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |   1111000 | PA      | $998044.63    | 0.04%             | 2026-05-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| ALNYLAM PHARMACEUTICALS                             | ALNYLAM PHARMACEUTICALS SR UNSECURED 144A 09/27 1           | CUSIP: N/A<br>LEI: 529900S3ZI14OWRJII50       | Long             | DBT              | CORP              | US        |   8820000 | PA      | $9435636.00   | 0.42%             | 2027-09-15      | Fixed         | 1.00%                 | Yes           |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                    | ALTICE FRANCE SA SR SECURED 144A 10/29 5.5                  | CUSIP: 02156LAH4<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   1400000 | PA      | $1107582.00   | 0.05%             | 2029-10-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| LSF11 A5 HOLDCO LLC                                 | LSF11 A5 HOLDCO LLC SR UNSECURED 144A 10/29 6.625           | CUSIP: 50221DAA7<br>LEI: 254900FPK7P5WNA66Y10 | Long             | DBT              | CORP              | US        |    842000 | PA      | $703280.50    | 0.03%             | 2029-10-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| LADDER CAP FIN LLLP/CORP                            | LADDER CAP FIN LLLP/CORP COMPANY GUAR 144A 10/25 5.25       | CUSIP: 505742AG1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2306000 | PA      | $2221854.06   | 0.10%             | 2025-10-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                   | HSBC HOLDINGS PLC JR SUBORDINA 12/49 VAR                    | CUSIP: 404280AT6<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $197428.00    | 0.01%             | 2063-03-30      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                         | ORACLE CORP COMMON STOCK USD.01                             | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |     81370 | NS      | $7197990.20   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN AIRLINES INC.                              | AMERICAN AIRLINES, INC. 2021 TERM LOAN                      | CUSIP: 02376CBJ3<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |    990000 | PA      | $1018150.65   | 0.05%             | 2028-04-20      | Floating      | 9.77%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC                             | AMERICAN AXLE + MFG INC COMPANY GUAR 07/28 6.875            | CUSIP: 02406PBA7<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |   1243000 | PA      | $1134088.34   | 0.05%             | 2028-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| GAP INC/THE                                         | GAP INC/THE COMPANY GUAR 144A 10/29 3.625                   | CUSIP: 364760AP3<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | DBT              | CORP              | US        |     60000 | PA      | $46171.80     | 0.00%             | 2029-10-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| GLOBAL NET LEASE/GLOBAL                             | GLOBAL NET LEASE/GLOBAL COMPANY GUAR 144A 12/27 3.75        | CUSIP: 37892AAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1718000 | PA      | $1452225.40   | 0.06%             | 2027-12-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| ARCOSA INC                                          | ARCOSA INC COMPANY GUAR 144A 04/29 4.375                    | CUSIP: 039653AA8<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |    670000 | PA      | $599073.80    | 0.03%             | 2029-04-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| ARES CAPITAL CORP                                   | ARES CAPITAL CORP SR UNSECURED 03/24 4.625                  | CUSIP: N/A<br>LEI: WEQ82666OJYSI5GUAB47       | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3159120.00   | 0.14%             | 2024-03-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| PPG INDUSTRIES INC                                  | PPG INDUSTRIES INC COMMON STOCK USD1.66666                  | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |     51140 | NS      | $6665587.60   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| RAYTHEON TECHNOLOGIES CORP                          | RAYTHEON TECHNOLOGIES CORP COMMON STOCK USD1.0              | CUSIP: N/A<br>LEI: I07WOS4YJ0N7YRFE7309       | Long             | EC               | CORP              | US        |    272540 | NS      | $27213119.00  | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| LADDER CAP FIN LLLP/CORP                            | LADDER CAP FIN LLLP/CORP COMPANY GUAR 144A 06/29 4.75       | CUSIP: 505742AP1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    596000 | PA      | $495866.04    | 0.02%             | 2029-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| LAND O'LAKES INC                                    | LAND O LAKES INC JR SUBORDINA 144A 12/99 7                  | CUSIP: 514666AN6<br>LEI: 4ONCJWH5BBCYSJIJYX61 | Long             | DBT              | CORP              | US        |    125000 | PA      | $110728.75    | 0.00%             | 2063-09-18      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| REINSURANCE GRP OF AMER                             | REINSURANCE GRP OF AMER PREFFERD STOCK                      | CUSIP: 759351885<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     11100 | NS      | $295704.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| SALESFORCE INC                                      | SALESFORCE INC COMMON STOCK USD.001                         | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |     59985 | NS      | $10075680.45  | 0.45%             |  |  |  | No            |                  1 | On Loan: —       |
| VITAL ENERGY INC                                    | VITAL ENERGY INC COMPANY GUAR 01/25 9.5                     | CUSIP: 516806AF3<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |    604000 | PA      | $610009.80    | 0.03%             | 2025-01-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| VITAL ENERGY INC                                    | VITAL ENERGY INC COMPANY GUAR 01/28 10.125                  | CUSIP: 516806AG1<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |   1285000 | PA      | $1281620.45   | 0.06%             | 2028-01-15      | Fixed         | 10.12%                | No            |                  2 | On Loan: No      |
| ARES FINANCE CO                                     | ARES FINANCE CO COMPANY GUAR 144A 06/51 VAR                 | CUSIP: 04018VAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    460000 | PA      | $360170.80    | 0.02%             | 2051-06-30      | Variable      | 4.12%                 | Yes           |                  2 | On Loan: No      |
| ASSUREDPARTNERS INC                                 | ASSUREDPARTNERS INC SR UNSECURED 144A 08/25 7               | CUSIP: 04624VAA7<br>LEI: 549300HNDSDQWQ3L2P80 | Long             | DBT              | CORP              | US        |   1030000 | PA      | $1018031.40   | 0.05%             | 2025-08-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| LD HOLDINGS GROUP LLC                               | LD HOLDINGS GROUP LLC COMPANY GUAR 144A 04/28 6.125         | CUSIP: 521088AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1680000 | PA      | $1097241.60   | 0.05%             | 2028-04-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                               | LEVEL 3 FINANCING INC SR SECURED 144A 11/29 3.875           | CUSIP: 527298BQ5<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |   1997000 | PA      | $1620805.14   | 0.07%             | 2029-11-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| SCHLUMBERGER LTD                                    | SCHLUMBERGER LTD COMMON STOCK USD.01                        | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |    219710 | NS      | $12519075.80  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| CHARLES SCHWAB CORP/THE                             | SCHWAB (CHARLES) CORP COMMON STOCK USD.01                   | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |     85840 | NS      | $6645732.80   | 0.29%             |  |  |  | No            |                  1 | On Loan: —       |
| AT HOME GROUP INC                                   | AT HOME GROUP INC SR SECURED 144A 07/28 4.875               | CUSIP: 04650YAA8<br>LEI: 549300LGPR0P05O30I24 | Long             | DBT              | CORP              | US        |   1487000 | PA      | $1087710.76   | 0.05%             | 2028-07-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: —       |
| SELECTIVE INSURANCE GROU                            | SELECTIVE INSURANCE GROU PREFERRED STOCK 4.6                | CUSIP: 816300503<br>LEI: 549300R3WGJWLE40R258 | Long             | EP               | CORP              | US        |     12387 | NS      | $230769.81    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| SERVICENOW INC                                      | SERVICENOW INC COMMON STOCK USD.001                         | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |     21845 | NS      | $9942314.85   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| LEVEL 3 FINANCING INC                               | LEVEL 3 FINANCING INC COMPANY GUAR 144A 07/28 4.25          | CUSIP: 527298BR3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $991675.00    | 0.04%             | 2028-07-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| LIBERTY BROADBAND CORP                              | LIBERTY BROADBAND CORP SR UNSECURED 144A 09/50 2.75         | CUSIP: N/A<br>LEI: 549300MIX43II8JLN536       | Long             | DBT              | CORP              | US        |   3140000 | PA      | $3077890.80   | 0.14%             | 2050-09-30      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| AVIATION CAPITAL GROUP                              | AVIATION CAPITAL GROUP SR UNSECURED 144A 11/27 3.5          | CUSIP: 05369AAA9<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |   1307000 | PA      | $1174221.87   | 0.05%             | 2027-11-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                            | AVOLON HOLDINGS FNDG LTD COMPANY GUAR 144A 07/24 3.95       | CUSIP: 05401AAF8<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    635000 | PA      | $616267.50    | 0.03%             | 2024-07-01      | Fixed         | 3.95%                 | Yes           |                  2 | On Loan: No      |
| SOUTHWEST AIRLINES CO                               | SOUTHWEST AIRLINES CO COMMON STOCK USD1.0                   | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |    152510 | NS      | $5455282.70   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| SPIRIT REALTY CAPITAL IN                            | SPIRIT REALTY CAPITAL IN PREFERRED STOCK 6                  | CUSIP: 84860W201<br>LEI: 549300LTU6LVPZSHMJ25 | Long             | EC               | CORP              | US        |      3000 | NS      | $72540.00     | 0.00%             | 2049-12-31      | Fixed         | 6.00%                 | No            |                  1 | On Loan: No      |
| LIBERTY INTERACTIVE LLC                             | LIBERTY INTERACTIVE LLC SR UNSECURED 02/30 8.25             | CUSIP: 530715AJ0<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |   1175000 | PA      | $554917.25    | 0.02%             | 2030-02-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| LIBERTY MUTUAL GROUP INC                            | LIBERTY MUTUAL GROUP INC COMPANY GUAR 144A 12/51 VAR        | CUSIP: 53079EBM5<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |    420000 | PA      | $359763.60    | 0.02%             | 2051-12-15      | Variable      | 4.12%                 | Yes           |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                            | AVOLON HOLDINGS FNDG LTD SR UNSECURED 144A 01/26 5.5        | CUSIP: 05401AAK7<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    490000 | PA      | $480312.70    | 0.02%             | 2026-01-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| AXIS SPECIALTY FINANCE                              | AXIS SPECIALTY FINANCE COMPANY GUAR 01/40 VAR               | CUSIP: 05463HAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    285000 | PA      | $244971.75    | 0.01%             | 2040-01-15      | Variable      | 4.90%                 | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC                                 | AXON ENTERPRISE INC SR UNSECURED 144A 12/27 0.5             | CUSIP: N/A<br>LEI: 549300QP2IEEGFE16681       | Long             | DBT              | CORP              | US        |   4215000 | PA      | $4550218.95   | 0.20%             | 2027-12-15      | Fixed         | 0.50%                 | Yes           |                  2 | On Loan: No      |
| BP CAPITAL MARKETS PLC                              | BP CAPITAL MARKETS PLC COMPANY GUAR 12/99 VAR               | CUSIP: 05565QDU9<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |    145000 | PA      | $140793.55    | 0.01%             | 2063-01-31      | Variable      | 4.38%                 | No            |                  2 | On Loan: No      |
| STARBUCKS CORP                                      | STARBUCKS CORP COMMON STOCK USD.001                         | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |    107325 | NS      | $11713450.50  | 0.52%             |  |  |  | No            |                  1 | On Loan: —       |
| SYSCO CORP                                          | SYSCO CORP COMMON STOCK USD1.0                              | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |    124615 | NS      | $9652677.90   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| DELL INT LLC / EMC CORP                             | DELL INT LLC / EMC CORP SR UNSECURED 06/26 6.02             | CUSIP: 24703TAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1405000 | PA      | $1445773.10   | 0.06%             | 2026-06-15      | Fixed         | 6.02%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                       | DISH DBS CORP COMPANY GUAR 07/26 7.75                       | CUSIP: 25470XAY1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    926000 | PA      | $752458.34    | 0.03%             | 2026-07-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| LIBERTY MEDIA CORP                                  | LIBERTY MEDIA CORP SR UNSECURED 144A 12/50 0.5              | CUSIP: N/A<br>LEI: 549300ZKUTPIBZLWLL89       | Long             | DBT              | CORP              | US        |   2680000 | PA      | $2813035.20   | 0.12%             | 2050-12-01      | Fixed         | 0.50%                 | Yes           |                  2 | On Loan: No      |
| LIBERTY MEDIA CORP                                  | LIBERTY MEDIA CORP SR UNSECURED 144A 08/27 2.25             | CUSIP: N/A<br>LEI: 549300ZKUTPIBZLWLL89       | Long             | DBT              | CORP              | US        |   8895000 | PA      | $9356027.85   | 0.42%             | 2027-08-15      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| TIDEWATER INC                                       | TIDEWATER INC NEW WARRANTS                                  | CUSIP: N/A<br>LEI: 2549000JA5GRUPLMUH98       | N/A              | DE               | CORP              | US        |     16676 | NS      | $1.67         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ULTA BEAUTY INC                                     | ULTA BEAUTY INC COMMON STOCK USD.01                         | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |     27180 | NS      | $13969432.80  | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| TJX COS INC/THE                                     | TJX COMPANIES INC COMMON STOCK USD1.0                       | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |     71950 | NS      | $5889827.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| TESLA INC                                           | TESLA INC COMMON STOCK USD.001                              | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |    156295 | NS      | $27073419.90  | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| US CELLULAR CORP                                    | US CELLULAR CORP PREFERRED STOCK 06/70 5.5                  | CUSIP: 911684884<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      5625 | NS      | $105243.75    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INC                              | UNITEDHEALTH GROUP INC COMMON STOCK USD.01                  | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     90407 | NS      | $45130270.33  | 2.00%             |  |  |  | No            |                  1 | On Loan: —       |
| VALERO ENERGY CORP                                  | VALERO ENERGY CORP COMMON STOCK USD.01                      | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |     33540 | NS      | $4696606.20   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC                                            | VISA INC CLASS A SHARES COMMON STOCK USD.0001               | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |    178525 | NS      | $41098240.25  | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| VISTA OUTDOOR INC                                   | VISTA OUTDOOR INC COMPANY GUAR 144A 03/29 4.5               | CUSIP: 928377AC4<br>LEI: 549300QI2D33ESTJLN81 | Long             | DBT              | CORP              | US        |   1355000 | PA      | $1098634.00   | 0.05%             | 2029-03-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| WW INTERNATIONAL INC.                               | WW INTERNATIONAL, INC. 2021 TERM LOAN B                     | CUSIP: 92941PAC7<br>LEI: SGT8R1MU6ESIC7UJC518 | Long             | LON              | CORP              | US        |   1975050 | PA      | $1186669.29   | 0.05%             | 2028-04-13      | Floating      | 9.30%                 | No            |                  2 | On Loan: No      |
| WASTE PRO USA INC                                   | WASTE PRO USA INC SR UNSECURED 144A 02/26 5.5               | CUSIP: 94107JAA1<br>LEI: 549300BY1QXU5BI3UF28 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $977686.50    | 0.04%             | 2026-02-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| WESTERN ALLIANCE BANCORP                            | WESTERN ALLIANCE BANCORP PREFERRED STOCK VAR                | CUSIP: 957638406<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EP               | CORP              | US        |      7398 | NS      | $158835.06    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| WEATHERFORD INTERNATIONA                            | WEATHERFORD INTERNATIONA SR SECURED 144A 09/28 6.5          | CUSIP: 947075AT4<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |   1280000 | PA      | $1275737.60   | 0.06%             | 2028-09-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| WILLIAMS COS INC/THE                                | WILLIAMS COS INC COMMON STOCK USD1.0                        | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |     10000 | NS      | $322400.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| ACCENTURE PLC                                       | ACCENTURE PLC CL A COMMON STOCK USD.0000225                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IE        |     56335 | NS      | $15720281.75  | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| LIFE TIME INC                                       | LIFE TIME INC SR SECURED 144A 01/26 5.75                    | CUSIP: 53190FAA3<br>LEI: 549300PALKE96VYH4X17 | Long             | DBT              | CORP              | US        |    600000 | PA      | $580704.00    | 0.03%             | 2026-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| LIFE TIME INC                                       | LIFE TIME INC COMPANY GUAR 144A 04/26 8                     | CUSIP: 53190FAC9<br>LEI: 549300PALKE96VYH4X17 | Long             | DBT              | CORP              | US        |    884000 | PA      | $859804.92    | 0.04%             | 2026-04-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: —       |
| BROOKFIELD PROPERTY PART                            | BROOKFIELD PROPERTY PART PREFERRED STOCK 6.375              | CUSIP: EP0575654<br>LEI: 5493004J5Z0TZW83NU62 | Long             | EP               | CORP              | BM        |      5000 | NS      | $99350.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| MCDERMOTT INTERNATIONAL LTD                         | MCDERMOTT INTERNATIONAL LTD MCDERMOTT INTER TR B   CW27     | CUSIP: N/A<br>LEI: 54930004RAXI4B3L4752       | N/A              | DE               | CORP              | BM        |     57470 | NS      | $5.75         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| MEDTRONIC PLC                                       | MEDTRONIC PLC COMMON STOCK USD.1                            | CUSIP: 585055106<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |    122460 | NS      | $10248677.40  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| APTIV PLC                                           | APTIV PLC PREFERRED STOCK 06/23 5.5                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | JE        |    127510 | NS      | $16064984.90  | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| LIGADO NETWORKS LLC                                 | LIGADO NETWORKS LLC SR SECURED 144A 11/23 15.5              | CUSIP: 53225HAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    812658 | PA      | $284560.33    | 0.01%             | 2023-11-01      | Fixed         | 15.50%                | Yes           |                  2 | On Loan: No      |
| LINDBLAD EXPEDITIONS LLC                            | LINDBLAD EXPEDITIONS LLC SR SECURED 144A 02/27 6.75         | CUSIP: 53523LAA8<br>LEI: 549300MPUWOG67Y2R254 | Long             | DBT              | CORP              | US        |    767000 | PA      | $752112.53    | 0.03%             | 2027-02-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONA                            | WEATHERFORD INTERNATIONA COMPANY GUAR 144A 04/30 8.625      | CUSIP: 947075AU1<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |    900000 | PA      | $908289.00    | 0.04%             | 2030-04-30      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| LSF11 A5 HOLDCO LLC                                 | LSF11 A5 HOLDCO LLC 2023 INCREMENTAL TERM LOAN B            | CUSIP: N/A<br>LEI: 254900FPK7P5WNA66Y10       | Long             | LON              | CORP              | US        |    610000 | PA      | $596275.00    | 0.03%             | 2028-10-15      | Floating      | 9.34%                 | No            |                  2 | On Loan: No      |
| ALCON INC                                           | ALCON INC COMMON STOCK CHF.04                               | CUSIP: N/A<br>LEI: 549300LDT5AP8S0NBM78       | Long             | EC               | CORP              | CH        |    124060 | NS      | $9330552.60   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| CHUBB LTD                                           | CHUBB LTD COMMON STOCK                                      | CUSIP: N/A<br>LEI: E0JAN6VLUDI1HITHT809       | Long             | EC               | CORP              | CH        |     76155 | NS      | $17324500.95  | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| LIVE NATION ENTERTAINMEN                            | LIVE NATION ENTERTAINMEN SR UNSECURED 02/25 2               | CUSIP: N/A<br>LEI: 5493007B9BM9ZXJINO78       | Long             | DBT              | CORP              | US        |  17095000 | PA      | $17666998.70  | 0.78%             | 2025-02-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                            | LLOYDS BANKING GROUP PLC JR SUBORDINA 04/49 VAR             | CUSIP: 539439AG4<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $198676.00    | 0.01%             | 2063-01-31      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                               | WELLS FARGO + COMPANY JR SUBORDINA 12/99 VAR                | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1230000 | PA      | $1134367.50   | 0.05%             | 2063-01-31      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                              | WESCO DISTRIBUTION INC COMPANY GUAR 144A 06/25 7.125        | CUSIP: 95081QAN4<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    563000 | PA      | $572351.43    | 0.03%             | 2025-06-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | INTELSAT EMERGENCE SA COMMON STOCK                          | CUSIP: N/A<br>LEI: 549300YV2L21F4K80V46       | Long             | EC               | CORP              | LU        |     14021 | NS      | $325988.25    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| LOWE'S COS INC                                      | LOWE S COS INC COMMON STOCK USD.5                           | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |     41620 | NS      | $8667365.00   | 0.38%             |  |  |  | No            |                  1 | On Loan: —       |
| M/I HOMES INC                                       | M/I HOMES INC COMPANY GUAR 02/30 3.95                       | CUSIP: 55305BAV3<br>LEI: 5299005M71FH9CCSFB69 | Long             | DBT              | CORP              | US        |    780000 | PA      | $657134.40    | 0.03%             | 2030-02-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                              | WESCO DISTRIBUTION INC COMPANY GUAR 144A 06/28 7.25         | CUSIP: 95081QAP9<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    283000 | PA      | $291277.75    | 0.01%             | 2028-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| WEC ENERGY GROUP INC                                | WEC ENERGY GROUP INC JR SUBORDINA 05/67 VAR                 | CUSIP: 976657AH9<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |     80000 | PA      | $68503.20     | 0.00%             | 2067-05-15      | Variable      | 6.72%                 | No            |                  2 | On Loan: No      |
| BALL CORP                                           | BALL CORP COMPANY GUAR 03/28 6.875                          | CUSIP: 058498AY2<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |    465000 | PA      | $480372.90    | 0.02%             | 2028-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BANFF MERGER SUB INC                                | BANFF MERGER SUB INC 2021 USD TERM LOAN                     | CUSIP: 05988HAE7<br>LEI: 5493006T045HLTF7YX04 | Long             | LON              | CORP              | US        |   1187122 | PA      | $1168056.89   | 0.05%             | 2025-10-02      | Floating      | 9.37%                 | No            |                  2 | On Loan: No      |
| WOLFSPEED INC                                       | WOLFSPEED INC SR UNSECURED 144A 12/29 1.875                 | CUSIP: N/A<br>LEI: 549300OGU88P3AW3TO93       | Long             | DBT              | CORP              | US        |   5670000 | PA      | $5507214.30   | 0.24%             | 2029-12-01      | Fixed         | 1.88%                 | Yes           |                  2 | On Loan: No      |
| XHR LP                                              | XHR LP SR SECURED 144A 08/25 6.375                          | CUSIP: 98372MAA3<br>LEI: 549300M88BPT83ZL2164 | Long             | DBT              | CORP              | US        |   1255000 | PA      | $1245436.90   | 0.06%             | 2025-08-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| AP CORE HOLDINGS II LLC                             | AP CORE HOLDINGS II LLC HIGH YIELD TERM LOAN B2             | CUSIP: 00187GAD1<br>LEI: 549300PND8ZZ4RWYRZ56 | Long             | LON              | CORP              | US        |   1075000 | PA      | $1040062.50   | 0.05%             | 2027-09-01      | Floating      | 11.10%                | No            |                  2 | On Loan: No      |
| ARD FINANCE SA                                      | ARD FINANCE SA SR SECURED 144A 06/27 6.5                    | CUSIP: 00191AAD8<br>LEI: 6354006P6QPGGPVJW880 | Long             | DBT              | CORP              | LU        |   3100000 | PA      | $2436073.00   | 0.11%             | 2027-06-30      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| MPH ACQUISITION HOLDINGS                            | MPH ACQUISITION HOLDINGS COMPANY GUAR 144A 11/28 5.75       | CUSIP: 553283AC6<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $946153.00    | 0.04%             | 2028-11-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: —       |
| MPH ACQUISITION HOLDINGS                            | MPH ACQUISITION HOLDINGS SR SECURED 144A 09/28 5.5          | CUSIP: 553283AD4<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |    595000 | PA      | $495569.55    | 0.02%             | 2028-09-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| ZI TECH LLC/ZI FIN CORP                             | ZI TECH LLC/ZI FIN CORP COMPANY GUAR 144A 02/29 3.875       | CUSIP: 98981BAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1355000 | PA      | $1170110.25   | 0.05%             | 2029-02-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                            | AMERICAN AIRLINES/AADVAN SR SECURED 144A 04/29 5.75         | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    295000 | PA      | $285849.10    | 0.01%             | 2029-04-20      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| ABERCROMBIE & FITCH MANA                            | ABERCROMBIE + FITCH MANA SR SECURED 144A 07/25 8.75         | CUSIP: 003000AA4<br>LEI: 5493003QMCFDA98NPT74 | Long             | DBT              | CORP              | US        |   1435000 | PA      | $1451158.10   | 0.06%             | 2025-07-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: —       |
| B RILEY FINANCIAL INC                               | B RILEY FINANCIAL INC PREFERRED STOCK                       | CUSIP: 05580M835<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      3000 | NS      | $66420.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP                                | BANK OF AMERICA CORP COMMON STOCK USD.01                    | CUSIP: N/A<br>LEI: 9DJT3UXIJIZJI4WXO774       | Long             | EC               | CORP              | US        |    663370 | NS      | $23536367.60  | 1.04%             |  |  |  | No            |                  1 | On Loan: —       |
| ACPRODUCTS INC.                                     | ACPRODUCTS INC 2021 TERM LOAN B                             | CUSIP: 00488YAB2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    591000 | PA      | $481026.72    | 0.02%             | 2028-05-17      | Floating      | 9.49%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                              | ACRISURE LLC / FIN INC SR UNSECURED 144A 11/25 7            | CUSIP: 00489LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1883000 | PA      | $1795139.22   | 0.08%             | 2025-11-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| CVS HEALTH CORP                                     | CVS HEALTH CORP COMMON STOCK USD.01                         | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |     26830 | NS      | $2366942.60   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                            | CAPITAL ONE FINANCIAL CO PREFERRED STOCK 4.8                | CUSIP: 14040H782<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EP               | CORP              | US        |      1350 | NS      | $28080.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CARNIVAL CORP                                       | CARNIVAL CORP COMMON STOCK USD.01                           | CUSIP: 143658300<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | EC               | CORP              | PA        |     59260 | NS      | $641193.20    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CENTERPOINT ENERGY INC                              | CENTERPOINT ENERGY INC PREFFERED STOCK                      | CUSIP: N/A<br>LEI: 21TPXMRRHFKOBHDC8J74       | Long             | EP               | CORP              | US        |     84885 | NS      | $3559228.05   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| CHART INDUSTRIES INC                                | CHART INDUSTRIES INC PREFERRED STOCK 12/25 6.75             | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     46187 | NS      | $2627578.43   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CHESAPEAKE ENERGY CORP                              | CHESAPEAKE ENERGY CORP COMMON STOCK USD.01                  | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |      3550 | NS      | $307856.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CULLEN/FROST BANKERS INC                            | CULLEN/FROST BANKERS INC PREFERRED STOCK 4.45               | CUSIP: 229899307<br>LEI: 529900V2E9G9AY665O34 | Long             | EP               | CORP              | US        |      1732 | NS      | $34709.28     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CUMULUS MEDIA INC                                   | CUMULUS MEDIA INC CL A COMMON STOCK USD.01                  | CUSIP: 231082801<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8434 | NS      | $56507.80     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CHESAPEAKE ENERGY CORP                              | CHESAPEAKE ENERGY CORP COMPANY GUAR 144A 04/29 6.75         | CUSIP: 92735LAA0<br>LEI: 254900PNIMG4CPJH6R25 | Long             | DBT              | CORP              | US        |    892000 | PA      | $880965.96    | 0.04%             | 2029-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| AMER AIRLINE 21-1B PTT                              | AMER AIRLINE 21 1B PTT PASS THRU CE 01/32 3.95              | CUSIP: 02376LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1363740 | PA      | $1156615.17   | 0.05%             | 2030-07-11      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                          | DAVITA INC COMPANY GUAR 144A 06/30 4.625                    | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |   2381000 | PA      | $2007468.72   | 0.09%             | 2030-06-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| DAVITA INC                                          | DAVITA INC COMPANY GUAR 144A 02/31 3.75                     | CUSIP: 23918KAT5<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |   1395000 | PA      | $1086216.75   | 0.05%             | 2031-02-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| MP MATERIALS CORP                                   | MP MATERIALS CORP SR UNSECURED 144A 04/26 0.25              | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   3060000 | PA      | $3063243.60   | 0.14%             | 2026-04-01      | Fixed         | 0.25%                 | Yes           |                  2 | On Loan: No      |
| MPLX LP                                             | MPLX LP JR SUBORDINA VAR                                    | CUSIP: 55336VAU4<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |   1311000 | PA      | $1311839.04   | 0.06%             | 2063-01-31      | Variable      | 6.88%                 | No            |                  2 | On Loan: —       |
| ALBERTSONS COS/SAFEWAY                              | ALBERTSONS COS/SAFEWAY COMPANY GUAR 144A 03/29 3.5          | CUSIP: 013092AG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1191000 | PA      | $1028023.56   | 0.05%             | 2029-03-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| QBE INSURANCE GROUP LTD                             | QBE INSURANCE GROUP LTD JR SUBORDINA 144A 12/99 VAR         | CUSIP: 74728GAE0<br>LEI: 549300D2FBW76FPUSG65 | Long             | DBT              | CORP              | AU        |    280000 | PA      | $276175.20    | 0.01%             | 2063-01-31      | Variable      | 5.88%                 | Yes           |                  2 | On Loan: —       |
| ROCKETMTGE CO-ISSUER INC                            | ROCKETMTGE CO ISSUER INC COMPANY GUAR 144A 03/29 3.625      | CUSIP: 74841CAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    555000 | PA      | $468986.10    | 0.02%             | 2029-03-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| ALTRIA GROUP INC                                    | ALTRIA GROUP INC COMMON STOCK USD.333                       | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |     58750 | NS      | $2646100.00   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| MIWD HLDCO II/MIWD FIN                              | MIWD HLDCO II/MIWD FIN COMPANY GUAR 144A 02/30 5.5          | CUSIP: 55337PAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1341000 | PA      | $1117361.43   | 0.05%             | 2030-02-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| MACY'S RETAIL HLDGS LLC                             | MACY S RETAIL HLDGS LLC COMPANY GUAR 02/43 4.3              | CUSIP: 55616XAJ6<br>LEI: 549300JMONK27O4SQQ19 | Long             | DBT              | CORP              | US        |    600000 | PA      | $372618.00    | 0.02%             | 2043-02-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| MACY'S RETAIL HLDGS LLC                             | MACY S RETAIL HLDGS LLC SR SECURED 144A 07/34 6.7           | CUSIP: 55617LAL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1248000 | PA      | $1055608.32   | 0.05%             | 2034-07-15      | Fixed         | 6.70%                 | Yes           |                  2 | On Loan: No      |
| MARATHON PETROLEUM CORP                             | MARATHON PETROLEUM CORP COMMON STOCK USD.01                 | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |    100220 | NS      | $12880274.40  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                             | GOLDMAN SACHS GROUP INC JR SUBORDINA 12/99 VAR              | CUSIP: 38141GYU2<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    153000 | PA      | $136621.35    | 0.01%             | 2063-01-31      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                             | GOLDMAN SACHS GROUP INC JR SUBORDINA 12/99 VAR              | CUSIP: 38144GAC5<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    500000 | PA      | $454525.00    | 0.02%             | 2063-01-31      | Variable      | 4.40%                 | No            |                  2 | On Loan: No      |
| MARSH & MCLENNAN COS INC                            | MARSH + MCLENNAN COS COMMON STOCK USD1.0                    | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |     85415 | NS      | $14939937.65  | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| NETFLIX INC                                         | NETFLIX INC SR UNSECURED 04/28 4.875                        | CUSIP: 64110LAS5<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |    610000 | PA      | $610152.50    | 0.03%             | 2028-04-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| NEW FORTRESS ENERGY INC                             | NEW FORTRESS ENERGY INC SR SECURED 144A 09/25 6.75          | CUSIP: 644393AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1191000 | PA      | $1144038.87   | 0.05%             | 2025-09-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| NEW FORTRESS ENERGY INC                             | NEW FORTRESS ENERGY INC SR SECURED 144A 09/26 6.5           | CUSIP: 644393AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    589000 | PA      | $544353.80    | 0.02%             | 2026-09-30      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                   | NEWELL BRANDS INC SR UNSECURED 09/27 6.375                  | CUSIP: 651229BC9<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    300000 | PA      | $301986.00    | 0.01%             | 2027-09-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| NEWELL BRANDS INC                                   | NEWELL BRANDS INC SR UNSECURED 09/29 6.625                  | CUSIP: 651229BD7<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    148000 | PA      | $150193.36    | 0.01%             | 2029-09-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: —       |
| ROCKETMTGE CO-ISSUER INC                            | ROCKETMTGE CO ISSUER INC COMPANY GUAR 144A 03/31 3.875      | CUSIP: 74841CAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    560000 | PA      | $457100.00    | 0.02%             | 2031-03-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                            | RHP HOTEL PPTY/RHP FINAN COMPANY GUAR 144A 02/29 4.5        | CUSIP: 749571AG0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1355000 | PA      | $1212738.55   | 0.05%             | 2029-02-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| PACTIV EVERGREEN GROUP                              | PACTIV EVERGREEN GROUP SR SECURED 144A 10/27 4              | CUSIP: 76174LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1375000 | PA      | $1237651.25   | 0.05%             | 2027-10-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| RITE AID CORP                                       | RITE AID CORP SR SECURED 144A 11/26 8                       | CUSIP: 767754CL6<br>LEI: 529900W353T1JY1DKT44 | Long             | DBT              | CORP              | US        |   2933000 | PA      | $1638872.41   | 0.07%             | 2026-11-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| ROCKCLIFF ENERGY II LLC                             | ROCKCLIFF ENERGY II LLC SR UNSECURED 144A 10/29 5.5         | CUSIP: 77289KAA3<br>LEI: 5493007AZNVKZ5HEMT23 | Long             | DBT              | CORP              | US        |   1070000 | PA      | $1020170.10   | 0.05%             | 2029-10-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| NEXSTAR BROADCASTING INC.                           | NEXSTAR BROADCASTING INC 2019 TERM LOAN B4                  | CUSIP: 65336RAW8<br>LEI: 5493006PK6I4I2OOT688 | Long             | LON              | CORP              | US        |    330644 | PA      | $331195.01    | 0.01%             | 2026-09-18      | Floating      | 7.85%                 | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                              | NEXTERA ENERGY CAPITAL COMPANY GUAR 03/82 VAR               | CUSIP: 65339KCB4<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    280000 | PA      | $244406.40    | 0.01%             | 2082-03-15      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                              | ACRISURE LLC / FIN INC SR UNSECURED 144A 08/29 6            | CUSIP: 00489LAH6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1783000 | PA      | $1473257.24   | 0.07%             | 2029-08-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| AERCAP HOLDINGS NV                                  | AERCAP HOLDINGS NV COMPANY GUAR 10/79 VAR                   | CUSIP: 00774YAA7<br>LEI: 549300SZYINBBLJQU475 | Long             | DBT              | CORP              | NL        |   1535000 | PA      | $1470130.90   | 0.07%             | 2079-10-10      | Variable      | 5.88%                 | No            |                  2 | On Loan: No      |
| NORDEA BANK ABP                                     | NORDEA BANK ABP JR SUBORDINA 144A 12/99 VAR                 | CUSIP: 65559CAA9<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |    200000 | PA      | $198328.00    | 0.01%             | 2063-01-31      | Variable      | 6.62%                 | Yes           |                  2 | On Loan: No      |
| NORDEA BANK ABP                                     | NORDEA BANK ABP JR SUBORDINA 144A 12/99 VAR                 | CUSIP: 65559CAD3<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |    315000 | PA      | $250588.80    | 0.01%             | 2063-01-31      | Variable      | 3.75%                 | Yes           |                  2 | On Loan: No      |
| NORDSTROM INC                                       | NORDSTROM INC SR UNSECURED 01/44 5                          | CUSIP: 655664AR1<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |    600000 | PA      | $404364.00    | 0.02%             | 2044-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORDSTROM INC                                       | NORDSTROM INC SR UNSECURED 08/31 4.25                       | CUSIP: 655664AY6<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |    551000 | PA      | $414914.02    | 0.02%             | 2031-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| AETHON UN/AETHIN UN FIN                             | AETHON UN/AETHIN UN FIN SR UNSECURED 144A 02/26 8.25        | CUSIP: 00810GAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1789000 | PA      | $1782005.01   | 0.08%             | 2026-02-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| AIRBNB INC                                          | AIRBNB INC SR UNSECURED 03/26 0.00000                       | CUSIP: N/A<br>LEI: 549300HMUDNO0RY56D37       | Long             | DBT              | CORP              | US        |  16415000 | PA      | $14122481.10  | 0.63%             | 2026-03-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES INC                                 | DELTA AIR LINES INC SR UNSECURED 01/26 7.375                | CUSIP: 247361ZZ4<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |    297000 | PA      | $311036.22    | 0.01%             | 2026-01-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: —       |
| SKYMILES IP LTD.                                    | SKYMILES IP LTD. 2020 SKYMILES TERM LOAN B                  | CUSIP: 24736CBS2<br>LEI: 2549008L7P4I8VB90936 | Long             | LON              | CORP              | US        |   1235000 | PA      | $1279311.80   | 0.06%             | 2027-10-20      | Floating      | 8.77%                 | No            |                  2 | On Loan: No      |
| ATI INC                                             | ATI INC SR UNSECURED 12/27 5.875                            | CUSIP: 01741RAH5<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |    600000 | PA      | $582978.00    | 0.03%             | 2027-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ALLEGIANT TRAVEL CO                                 | ALLEGIANT TRAVEL CO SR SECURED 144A 08/27 7.25              | CUSIP: 01748XAD4<br>LEI: 549300JM9OZXOHWL2K18 | Long             | DBT              | CORP              | US        |   1370000 | PA      | $1344887.90   | 0.06%             | 2027-08-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                            | ALLIANT HOLD / CO ISSUER SR UNSECURED 144A 10/27 6.75       | CUSIP: 01883LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2342975.00   | 0.10%             | 2027-10-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                            | ALLIANT HOLD / CO ISSUER SR SECURED 144A 10/27 4.25         | CUSIP: 01883LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $275496.00    | 0.01%             | 2027-10-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                            | ALLIANT HOLD / CO ISSUER SR UNSECURED 144A 11/29 5.875      | CUSIP: 01883LAD5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $261768.00    | 0.01%             | 2029-11-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                  | ALLY FINANCIAL INC JR SUBORDINA 12/99 VAR                   | CUSIP: 02005NBM1<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   1782000 | PA      | $1468011.60   | 0.07%             | 2063-01-31      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                  | ALLY FINANCIAL INC JR SUBORDINA 12/99 VAR                   | CUSIP: 02005NBN9<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    850000 | PA      | $655562.50    | 0.03%             | 2063-01-31      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| ARROW BIDCO LLC                                     | ARROW BIDCO LLC SR SECURED 144A 03/24 9.5                   | CUSIP: 042728AA3<br>LEI: 549300YHZN08M0H3O128 | Long             | DBT              | CORP              | US        |   1795000 | PA      | $1805249.45   | 0.08%             | 2024-03-15      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| ASHTEAD CAPITAL INC                                 | ASHTEAD CAPITAL INC COMPANY GUAR 144A 08/31 2.45            | CUSIP: 045054AP8<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |   1270000 | PA      | $1026147.30   | 0.05%             | 2031-08-12      | Fixed         | 2.45%                 | Yes           |                  2 | On Loan: No      |
| ASHTON WOODS USA/FINANCE                            | ASHTON WOODS USA/FINANCE SR UNSECURED 144A 01/28 6.625      | CUSIP: 045086AK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    856000 | PA      | $783582.40    | 0.03%             | 2028-01-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| ASHTON WOODS USA/FINANCE                            | ASHTON WOODS USA/FINANCE SR UNSECURED 144A 08/29 4.625      | CUSIP: 045086AM7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1043000 | PA      | $871562.09    | 0.04%             | 2029-08-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| BP CAPITAL MARKETS PLC                              | BP CAPITAL MARKETS PLC COMPANY GUAR 12/99 VAR               | CUSIP: 05565QDV7<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |    280000 | PA      | $261920.40    | 0.01%             | 2063-01-31      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | ELLINGTON FINANCIAL PREFERRED STOCK VAR                     | CUSIP: N/A<br>LEI: 60GS1D1R1YY5G1W7IT74       | Long             | EC               | CORP              | US        |      3477 | NS      | $68566.44     | 0.00%             | 2049-12-31      | Variable      | 6.25%                 | No            |                  1 | On Loan: No      |
| FIRST REPUBLIC BANK                                 | FIRST REPUBLIC BANK PREFERRED STOCK 4                       | CUSIP: 33616C720<br>LEI: YWC0TIKBQM2JV8L4IV08 | Long             | EP               | CORP              | US        |      2668 | NS      | $48771.04     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST REPUBLIC BANK                                 | FIRST REPUBLIC BANK PREFERRED STOCK 4.125                   | CUSIP: 33616C761<br>LEI: YWC0TIKBQM2JV8L4IV08 | Long             | EP               | CORP              | US        |      1943 | NS      | $36606.12     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| FORD MOTOR COMPANY                                  | FORD MOTOR COMPANY PREFERRED STOCK 06/59 6.2                | CUSIP: 345370845<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EP               | CORP              | US        |      2835 | NS      | $70534.80     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLY FINANCIAL INC                                  | ALLY FINANCIAL INC COMPANY GUAR 11/31 8                     | CUSIP: 36186CBY8<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    964000 | PA      | $1059368.52   | 0.05%             | 2031-11-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| FRONTIER CALIFORNIA INC                             | FRONTIER CALIFORNIA INC SR UNSECURED 05/27 6.75             | CUSIP: 362311AG7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1210000 | PA      | $1146983.20   | 0.05%             | 2027-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GULFPORT ENERGY CORP                                | GULFPORT ENERGY CORP PREFERRED STOCK                        | CUSIP: N/A<br>LEI: 549300FJX18IDUFPHD40       | Long             | EP               | CORP              | US        |        28 | NS      | $163800.00    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| H&E EQUIPMENT SERVICES                              | H+E EQUIPMENT SERVICES COMPANY GUAR 144A 12/28 3.875        | CUSIP: 404030AJ7<br>LEI: 254900KVLRCDMQRYY541 | Long             | DBT              | CORP              | US        |   2775000 | PA      | $2450602.50   | 0.11%             | 2028-12-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| H.B. FULLER CO                                      | H.B. FULLER CO SR UNSECURED 10/28 4.25                      | CUSIP: 40410KAA3<br>LEI: JSMX3Z5FOYM8V0Q52357 | Long             | DBT              | CORP              | US        |    886000 | PA      | $785607.34    | 0.03%             | 2028-10-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| HCA INC                                             | HCA INC COMPANY GUAR 11/33 7.5                              | CUSIP: 404119AJ8<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1369000 | PA      | $1518823.36   | 0.07%             | 2033-11-06      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| HESS CORP                                           | HESS CORP COMMON STOCK USD1.0                               | CUSIP: 42809H107<br>LEI: UASVRYNXNK17ULIGK870 | Long             | EC               | CORP              | US        |     56105 | NS      | $8424726.80   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| HOME DEPOT INC/THE                                  | HOME DEPOT INC COMMON STOCK USD.05                          | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |     52240 | NS      | $16934640.80  | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| HONEYWELL INTERNATIONAL INC                         | HONEYWELL INTERNATIONAL INC COMMON STOCK USD1.0             | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |    104790 | NS      | $21846619.20  | 0.97%             |  |  |  | No            |                  1 | On Loan: —       |
| HUMANA INC                                          | HUMANA INC COMMON STOCK USD.1666666                         | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |     10885 | NS      | $5569854.50   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| DELUXE CORP                                         | DELUXE CORP COMPANY GUAR 144A 06/29 8                       | CUSIP: 248019AU5<br>LEI: KWGNKB8TX9LE5TV29231 | Long             | DBT              | CORP              | US        |   1565000 | PA      | $1341956.20   | 0.06%             | 2029-06-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| DEXCOM INC                                          | DEXCOM INC SR UNSECURED 11/25 0.25                          | CUSIP: N/A<br>LEI: 549300YSK3QDSFR5EU59       | Long             | DBT              | CORP              | US        |  16530000 | PA      | $17426752.50  | 0.77%             | 2025-11-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| JB HUNT TRANSPORT SERVICES INC                      | HUNT (JB) TRANSPRT SVCS INC COMMON STOCK USD.01             | CUSIP: 445658107<br>LEI: 549300XCD1MPI1C5GK90 | Long             | EC               | CORP              | US        |     79505 | NS      | $15030420.25  | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| HUNTINGTON BANCSHARES INC/OH                        | HUNTINGTON BANCSHARES INC COMMON STOCK USD.01               | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EC               | CORP              | US        |    447110 | NS      | $6782658.70   | 0.30%             |  |  |  | No            |                  1 | On Loan: —       |
| NORTHERN OIL AND GAS INC                            | NORTHERN OIL AND GAS INC SR UNSECURED 144A 04/29 3.625      | CUSIP: N/A<br>LEI: OKFF0PIZDDMNH4UCYE51       | Long             | DBT              | CORP              | US        |   6615000 | PA      | $7559423.55   | 0.34%             | 2029-04-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| GEN DIGITAL INC                                     | GEN DIGITAL INC COMPANY GUAR 144A 09/27 6.75                | CUSIP: 668771AK4<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |    625000 | PA      | $634631.25    | 0.03%             | 2027-09-30      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES                               | HUNTINGTON BANCSHARES JR SUBORDINA 12/99 VAR                | CUSIP: 446150AV6<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    350000 | PA      | $331957.50    | 0.01%             | 2063-01-31      | Variable      | 4.45%                 | No            |                  2 | On Loan: —       |
| MATCH GROUP FINANCECO 2                             | MATCH GROUP FINANCECO 2 COMPANY GUAR 144A 06/26 0.875       | CUSIP: N/A<br>LEI: 549300IPGK4BWL134U96       | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2887350.00   | 0.13%             | 2026-06-15      | Fixed         | 0.88%                 | Yes           |                  2 | On Loan: No      |
| MATCH GROUP FINANCECO 3                             | MATCH GROUP FINANCECO 3 COMPANY GUAR 144A 01/30 2           | CUSIP: N/A<br>LEI: 5493003IEL8HSZKWUI17       | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2458125.00   | 0.11%             | 2030-01-15      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| INVITATION HOMES INC                                | INVITATION HOMES INC REIT USD.01                            | CUSIP: 46187W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    119195 | NS      | $3873837.50   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| ISHARES CHINA LARGE-CAP ETF                         | ISHARES CHINA LARGE CAP ETF ISHARES CHINA LARGE CAP ETF     | CUSIP: 464287184<br>LEI: 5493001YVWPO25CNKN94 | Long             | EC               | RF                | US        |   1256235 | NS      | $39948273.00  | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| ISHARES PREFERRED & INCOME SECURITIES ETF           | ISHARES PREFERRED + INCOME SEC ISHARES PREFERRED + INCOME S | CUSIP: 464288687<br>LEI: 549300YX74JNY54XCY80 | Long             | EC               | RF                | US        |      5525 | NS      | $185640.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHNSON & JOHNSON                                   | JOHNSON + JOHNSON COMMON STOCK USD1.0                       | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |    251335 | NS      | $41073165.70  | 1.82%             |  |  |  | No            |                  1 | On Loan: —       |
| NUSTAR ENERGY LP                                    | NUSTAR ENERGY LP PREFERRED STOCK VAR                        | CUSIP: 67058H201<br>LEI: 5493003BMLTUIEG2LG44 | Long             | EP               | CORP              | US        |     20834 | NS      | $521266.68    | 0.02%             | 2063-02-28      | Variable      | 11.68%                | No            |                  1 | On Loan: No      |
| NUSTAR LOGISTICS LP                                 | NUSTAR LOGISTICS LP PREFERRED STOCK 01/43 VAR               | CUSIP: 67059T204<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | EP               | CORP              | US        |     55760 | NS      | $1397903.20   | 0.06%             | 2043-01-15      | Variable      | 11.58%                | No            |                  1 | On Loan: No      |
| PAYPAL HOLDINGS INC                                 | PAYPAL HOLDINGS INC COMMON STOCK USD.0001                   | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |    115050 | NS      | $9375424.50   | 0.42%             |  |  |  | No            |                  1 | On Loan: —       |
| UBER TECHNOLOGIES INC                               | UBER TECHNOLOGIES INC SR UNSECURED 12/25 0.00000            | CUSIP: N/A<br>LEI: 549300B2FTG34FILDR98       | Long             | DBT              | CORP              | US        |  14800000 | PA      | $12908560.00  | 0.57%             | 2025-12-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL                            | UNITED WHOLESALE MTGE LL SR UNSECURED 144A 04/29 5.5        | CUSIP: 913229AA8<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |   1383000 | PA      | $1191260.88   | 0.05%             | 2029-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| W & T OFFSHORE INC                                  | W + T OFFSHORE INC SECURED 144A 11/23 9.75                  | CUSIP: 92922PAL0<br>LEI: 549300Q7EOY2YIO3YK85 | Long             | DBT              | CORP              | US        |    770000 | PA      | $770693.00    | 0.03%             | 2023-11-01      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| WABASH NATIONAL CORP                                | WABASH NATIONAL CORP COMPANY GUAR 144A 10/28 4.5            | CUSIP: 929566AL1<br>LEI: 5299004ZAWHQZI5XO485 | Long             | DBT              | CORP              | US        |   1251000 | PA      | $1102956.66   | 0.05%             | 2028-10-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| WALMART INC                                         | WALMART INC COMMON STOCK USD.1                              | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |    130790 | NS      | $18816757.30  | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| WALGREENS BOOTS ALLIANCE INC                        | WALGREENS BOOTS ALLIANCE INC COMMON STOCK USD.01            | CUSIP: 931427108<br>LEI: 549300RPTUOIXG4LIH86 | Long             | EC               | CORP              | US        |     52650 | NS      | $1940679.00   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | CHAPARRAL ENERGY INC. COMMON STOCK CLASS A                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     11045 | NS      | $469412.50    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | GUITAR CENTER INC                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      8177 | NS      | $1018036.50   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| WELLS FARGO & CO                                    | WELLS FARGO + CO COMMON STOCK USD1.666                      | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |    411130 | NS      | $19269663.10  | 0.86%             |  |  |  | No            |                  1 | On Loan: —       |
| WESCO INTERNATIONAL INC                             | WESCO INTERNATIONAL INC PUBLIC VAR                          | CUSIP: 95082P303<br>LEI: 529900TXOGREY3WNJ434 | Long             | EP               | CORP              | US        |      2555 | NS      | $69496.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| AIR CANADA                                          | AIR CANADA 2021 TERM LOAN B                                 | CUSIP: N/A<br>LEI: 4B4HI3CGXMBDC0G6BM51       | Long             | LON              | CORP              | CA        |    741275 | PA      | $743257.91    | 0.03%             | 2028-08-11      | Floating      | 8.34%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COMPANIES INC.                        | BAUSCH HEALTH COMPANIES, INC. 2022 TERM LOAN B              | CUSIP: N/A<br>LEI: B3BS7ACMDUWISF18KY76       | Long             | LON              | CORP              | CA        |    292500 | PA      | $226373.06    | 0.01%             | 2027-02-01      | Floating      | 10.66%                | No            |                  2 | On Loan: No      |
| JAZZ FINANCING LUX S.A.R.L.                         | JAZZ FINANCING LUX SARL USD TERM LOAN                       | CUSIP: N/A<br>LEI: 635400WUEO2NSG5OIU34       | Long             | LON              | CORP              | LU        |   2176153 | PA      | $2176490.53   | 0.10%             | 2028-05-05      | Floating      | 8.71%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                     | GEN DIGITAL INC COMPANY GUAR 144A 09/30 7.125               | CUSIP: 668771AL2<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |    625000 | PA      | $635056.25    | 0.03%             | 2030-09-30      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| OWENS-BROCKWAY                                      | OWENS BROCKWAY COMPANY GUAR 144A 05/27 6.625                | CUSIP: 69073TAT0<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |   1787000 | PA      | $1759372.98   | 0.08%             | 2027-05-13      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: —       |
| PNC FINANCIAL SERVICES                              | PNC FINANCIAL SERVICES JR SUBORDINA 12/99 VAR               | CUSIP: 693475BC8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    315000 | PA      | $268691.85    | 0.01%             | 2063-01-31      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                              | PNC FINANCIAL SERVICES JR SUBORDINA 12/99 VAR               | CUSIP: 693475BD6<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    440000 | PA      | $437148.80    | 0.02%             | 2063-01-31      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                              | PNC FINANCIAL SERVICES JR SUBORDINA 12/99 VAR               | CUSIP: 693475BF1<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    140000 | PA      | $140372.40    | 0.01%             | 2063-01-31      | Variable      | 6.20%                 | No            |                  2 | On Loan: No      |
| PATRICK INDUSTRIES INC                              | PATRICK INDUSTRIES INC COMPANY GUAR 144A 05/29 4.75         | CUSIP: 703343AD5<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | DBT              | CORP              | US        |   1783000 | PA      | $1525748.76   | 0.07%             | 2029-05-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| PATTERSON-UTI ENERGY INC                            | PATTERSON UTI ENERGY INC SR UNSECURED 11/29 5.15            | CUSIP: 703481AC5<br>LEI: 254900XGFBKIXD6G0697 | Long             | DBT              | CORP              | US        |   1196000 | PA      | $1117374.96   | 0.05%             | 2029-11-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| PEBBLEBROOK HOTEL TRUST                             | PEBBLEBROOK HOTEL TRUST SR UNSECURED 12/26 1.75             | CUSIP: N/A<br>LEI: 5493004Q1NNH6JXCSI52       | Long             | DBT              | CORP              | US        |  15115000 | PA      | $13724571.15  | 0.61%             | 2026-12-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| PENN ENTERTAINMENT INC                              | PENN ENTERTAINMENT INC SR UNSECURED 144A 07/29 4.125        | CUSIP: 707569AV1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1370000 | PA      | $1136839.70   | 0.05%             | 2029-07-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| PENN NATIONAL GAMING INC.                           | PENN NATIONAL GAMING, INC. 2022 TERM LOAN B                 | CUSIP: 70757DAZ2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    608940 | PA      | $609277.96    | 0.03%             | 2029-05-03      | Floating      | 7.54%                 | No            |                  2 | On Loan: No      |
| PERFICIENT INC                                      | PERFICIENT INC SR UNSECURED 11/26 0.125                     | CUSIP: N/A<br>LEI: 549300HTBXKL2755T650       | Long             | DBT              | CORP              | US        |   5495000 | PA      | $4433915.50   | 0.20%             | 2026-11-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                            | PERFORMANCE FOOD GROUP I COMPANY GUAR 144A 08/29 4.25       | CUSIP: 71376LAE0<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |   1192000 | PA      | $1065111.60   | 0.05%             | 2029-08-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| PETCO HEALTH AND WELLNESS COMPANY INC.              | PETCO HEALTH AND WELLNESS COMP 2021 TERM LOAN B             | CUSIP: 71601HAB2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2063250 | PA      | $2045310.04   | 0.09%             | 2028-03-04      | Floating      | 7.87%                 | No            |                  2 | On Loan: No      |
| PETSMART INC.                                       | PETSMART INC 2021 TERM LOAN B                               | CUSIP: 71677HAL9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2971318 | PA      | $2955228.23   | 0.13%             | 2028-02-12      | Floating      | 9.15%                 | No            |                  2 | On Loan: No      |
| PETSMART INC/PETSMART FI                            | PETSMART INC/PETSMART FI SR SECURED 144A 02/28 4.75         | CUSIP: 71677KAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    375000 | PA      | $348491.25    | 0.02%             | 2028-02-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| PETSMART INC/PETSMART FI                            | PETSMART INC/PETSMART FI COMPANY GUAR 144A 02/29 7.75       | CUSIP: 71677KAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    750000 | PA      | $740805.00    | 0.03%             | 2029-02-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INTL                              | WILLIAMS SCOTSMAN INTL SR SECURED 144A 06/25 6.125          | CUSIP: 71953LAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1256000 | PA      | $1262242.32   | 0.06%             | 2025-06-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| PILGRIM'S PRIDE CORP                                | PILGRIM S PRIDE CORP COMPANY GUAR 144A 09/27 5.875          | CUSIP: 72147KAE8<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |    950000 | PA      | $943283.50    | 0.04%             | 2027-09-30      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| PILGRIM'S PRIDE CORP                                | PILGRIM S PRIDE CORP COMPANY GUAR 144A 04/31 4.25           | CUSIP: 72147KAF5<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |    900000 | PA      | $781272.00    | 0.03%             | 2031-04-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| PLAINS ALL AMERICAN PIPE                            | PLAINS ALL AMERICAN PIPE JR SUBORDINA 12/99 VAR             | CUSIP: 726503AE5<br>LEI: 5521FA2ITF25TVH63740 | Long             | EP               | CORP              | US        |   1390000 | PA      | $1257783.20   | 0.06%             | 2063-10-10      | Variable      | 8.99%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES INC                            | SENSATA TECHNOLOGIES INC COMPANY GUAR 144A 02/31 3.75       | CUSIP: 81728UAB0<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |    593000 | PA      | $507613.93    | 0.02%             | 2031-02-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| SILGAN HOLDINGS INC                                 | SILGAN HOLDINGS INC COMPANY GUAR 02/28 4.125                | CUSIP: 827048AW9<br>LEI: KAF673KJXD92C8KSLU49 | Long             | DBT              | CORP              | US        |   1328000 | PA      | $1242516.64   | 0.06%             | 2028-02-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| SIMMONS FOOD INC/SIMMONS                            | SIMMONS FOOD INC/SIMMONS SECURED 144A 03/29 4.625           | CUSIP: 82873MAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1670000 | PA      | $1418498.00   | 0.06%             | 2029-03-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| SINCLAIR TELEVISION GROU                            | SINCLAIR TELEVISION GROU COMPANY GUAR 144A 03/30 5.5        | CUSIP: 829259AY6<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |    600000 | PA      | $479208.00    | 0.02%             | 2030-03-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: —       |
| SINCLAIR TELEVISION GROU                            | SINCLAIR TELEVISION GROU SR SECURED 144A 12/30 4.125        | CUSIP: 829259BA7<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |    891000 | PA      | $709360.74    | 0.03%             | 2030-12-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| SIRIUS XM RADIO INC                                 | SIRIUS XM RADIO INC COMPANY GUAR 144A 07/29 5.5             | CUSIP: 82967NBC1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1409310.00   | 0.06%             | 2029-07-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                            | ROCKETMTGE CO ISSUER INC COMPANY GUAR 144A 10/26 2.875      | CUSIP: 77313LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $245575.00    | 0.01%             | 2026-10-15      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                            | ROGERS COMMUNICATIONS IN SUBORDINATED 144A 03/82 VAR        | CUSIP: 775109BS9<br>LEI: 54930030NVF3Y2OL0A78 | Long             | DBT              | CORP              | CA        |    235000 | PA      | $213154.40    | 0.01%             | 2082-03-15      | Variable      | 5.25%                 | Yes           |                  2 | On Loan: No      |
| SIRIUS XM RADIO INC                                 | SIRIUS XM RADIO INC COMPANY GUAR 144A 07/28 4               | CUSIP: 82967NBJ6<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    885000 | PA      | $787906.65    | 0.03%             | 2028-07-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| SIRIUS XM RADIO INC                                 | SIRIUS XM RADIO INC COMPANY GUAR 144A 09/26 3.125           | CUSIP: 82967NBL1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    585000 | PA      | $528038.55    | 0.02%             | 2026-09-01      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                              | GOODYEAR TIRE + RUBBER COMPANY GUAR 07/29 5                 | CUSIP: 382550BN0<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |    896000 | PA      | $790890.24    | 0.04%             | 2029-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| GRAHAM PACKAGING/GPC CAP                            | GRAHAM PACKAGING/GPC CAP COMPANY GUAR 144A 08/28 7.125      | CUSIP: 384701AA6<br>LEI: 549300YS0ZFT826HIK72 | Long             | DBT              | CORP              | US        |    733000 | PA      | $645201.26    | 0.03%             | 2028-08-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| SIRIUS XM RADIO INC                                 | SIRIUS XM RADIO INC COMPANY GUAR 144A 09/31 3.875           | CUSIP: 82967NBM9<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    298000 | PA      | $245486.44    | 0.01%             | 2031-09-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| DELTA AIR LINES/SKYMILES                            | DELTA AIR LINES/SKYMILES SR SECURED 144A 10/28 4.75         | CUSIP: 830867AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    295000 | PA      | $287046.80    | 0.01%             | 2028-10-20      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| SONIC AUTOMOTIVE INC                                | SONIC AUTOMOTIVE INC COMPANY GUAR 144A 11/29 4.625          | CUSIP: 83545GBD3<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | DBT              | CORP              | US        |   1348000 | PA      | $1122075.20   | 0.05%             | 2029-11-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: —       |
| SOUTHERN CO                                         | SOUTHERN CO JR SUBORDINA 01/51 VAR                          | CUSIP: 842587DF1<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |    247000 | PA      | $235235.39    | 0.01%             | 2051-01-15      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                         | SOUTHERN CO JR SUBORDINA 09/51 VAR                          | CUSIP: 842587DJ3<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |     95000 | PA      | $83421.40     | 0.00%             | 2051-09-15      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ENERGY CO                              | SOUTHWESTERN ENERGY CO COMPANY GUAR 02/29 5.375             | CUSIP: 845467AR0<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |    600000 | PA      | $564426.00    | 0.03%             | 2029-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ENERGY CO                              | SOUTHWESTERN ENERGY CO COMPANY GUAR 03/30 5.375             | CUSIP: 845467AS8<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |    895000 | PA      | $834694.90    | 0.04%             | 2030-03-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ENERGY CO                              | SOUTHWESTERN ENERGY CO COMPANY GUAR 02/32 4.75              | CUSIP: 845467AT6<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |    593000 | PA      | $523162.39    | 0.02%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SPANISH BROADCASTING SYS                            | SPANISH BROADCASTING SYS SR SECURED 144A 03/26 9.75         | CUSIP: 846425AQ9<br>LEI: 5493005DKYB1X4C9LH64 | Long             | DBT              | CORP              | US        |    585000 | PA      | $345881.25    | 0.02%             | 2026-03-01      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| SPEEDWAY MOT/SPEEDWAY FD                            | SPEEDWAY MOT/SPEEDWAY FD SR UNSECURED 144A 11/27 4.875      | CUSIP: 84779MAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    837000 | PA      | $786277.80    | 0.03%             | 2027-11-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| SPIRIT LOYALTY KY LTD/IP                            | SPIRIT LOYALTY KY LTD/IP SR SECURED 144A 09/25 8            | CUSIP: 84859BAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    735000 | PA      | $750317.40    | 0.03%             | 2025-09-20      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| SPIRIT LOYALTY KY LTD/IP                            | SPIRIT LOYALTY KY LTD/IP SR SECURED 144A 09/25 8            | CUSIP: 84859BAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    835000 | PA      | $854889.70    | 0.04%             | 2025-09-20      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| SVB FINANCIAL GROUP                                 | SVB FINANCIAL GROUP JR SUBORDINA 12/99 VAR                  | CUSIP: 78486QAG6<br>LEI: 549300D2KJ20JMXE7542 | Long             | DBT              | CORP              | US        |    224000 | PA      | $167381.76    | 0.01%             | 2063-01-31      | Variable      | 4.10%                 | No            |                  2 | On Loan: No      |
| SVB FINANCIAL GROUP                                 | SVB FINANCIAL GROUP JR SUBORDINA 12/99 VAR                  | CUSIP: 78486QAJ0<br>LEI: 549300D2KJ20JMXE7542 | Long             | DBT              | CORP              | US        |    674000 | PA      | $542152.12    | 0.02%             | 2063-01-31      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                | ONEMAIN FINANCE CORP COMPANY GUAR 03/26 7.125               | CUSIP: 85172FAN9<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    614000 | PA      | $611224.72    | 0.03%             | 2026-03-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| SPRINT LLC                                          | SPRINT LLC COMPANY GUAR 06/24 7.125                         | CUSIP: 85207UAH8<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |   3045000 | PA      | $3115156.80   | 0.14%             | 2024-06-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| GRANITE HOLDINGS US ACQUISITION CO.                 | GRANITE HOLDINGS US ACQ CO 2021 TERM LOAN B                 | CUSIP: 38740TAE1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1035659 | PA      | $1036305.87   | 0.05%             | 2026-09-30      | Floating      | 9.01%                 | No            |                  2 | On Loan: No      |
| GRANITE US HOLDINGS CORP                            | GRANITE US HOLDINGS CORP COMPANY GUAR 144A 10/27 11         | CUSIP: 38748YAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $633252.00    | 0.03%             | 2027-10-01      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: No      |
| DIAMOND FRGN/DIAMOND FIN                            | DIAMOND FRGN/DIAMOND FIN SR SECURED 04/27 9                 | CUSIP: 25260WAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     11988 | PA      | $11604.50     | 0.00%             | 2027-04-22      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| DIAMOND SPORTS GR/DIAMON                            | DIAMOND SPORTS GR/DIAMON COMPANY GUAR 144A 08/27 6.625      | CUSIP: 25277LAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    825000 | PA      | $17308.50     | 0.00%             | 2027-08-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| DIAMOND SPORTS GR/DIAMON                            | DIAMOND SPORTS GR/DIAMON SECURED 144A 08/26 5.375           | CUSIP: 25277LAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    656000 | PA      | $48484.96     | 0.00%             | 2026-08-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC                               | DIRECTV FINANCING LLC TERM LOAN                             | CUSIP: 25460HAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1688406 | PA      | $1664228.34   | 0.07%             | 2027-08-02      | Floating      | 10.62%                | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN                            | GRAPHIC PACKAGING INTERN COMPANY GUAR 144A 07/27 4.75       | CUSIP: 38869AAA5<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |    750000 | PA      | $722700.00    | 0.03%             | 2027-07-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN                            | GRAPHIC PACKAGING INTERN COMPANY GUAR 144A 03/29 3.5        | CUSIP: 38869AAC1<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |    551000 | PA      | $485767.11    | 0.02%             | 2029-03-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| STANDARD INDUSTRIES INC                             | STANDARD INDUSTRIES INC SR UNSECURED 144A 02/27 5           | CUSIP: 853496AC1<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |   1165000 | PA      | $1110780.90   | 0.05%             | 2027-02-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| STANLEY BLACK & DECKER I                            | STANLEY BLACK + DECKER I JR SUBORDINA 03/60 VAR             | CUSIP: 854502AM3<br>LEI: 549300DJ09SMTO561131 | Long             | DBT              | CORP              | US        |    100000 | PA      | $88013.00     | 0.00%             | 2060-03-15      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                   | STATE STREET CORP JR SUBORDINA 12/99 VAR                    | CUSIP: 857477BA0<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    503000 | PA      | $486873.82    | 0.02%             | 2063-01-31      | Variable      | 5.62%                 | No            |                  2 | On Loan: —       |
| STATION CASINOS LLC                                 | STATION CASINOS LLC COMPANY GUAR 144A 02/28 4.5             | CUSIP: 857691AG4<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |   2430000 | PA      | $2189721.60   | 0.10%             | 2028-02-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| STERICYCLE INC                                      | STERICYCLE INC COMPANY GUAR 144A 01/29 3.875                | CUSIP: 858912AG3<br>LEI: B8PTJH2P0AXSWSMP2136 | Long             | DBT              | CORP              | US        |    957000 | PA      | $851730.00    | 0.04%             | 2029-01-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| STL HOLDING CO LLC                                  | STL HOLDING CO LLC SR UNSECURED 144A 02/26 7.5              | CUSIP: 861036AA9<br>LEI: 984500BC2I63E7F48656 | Long             | DBT              | CORP              | US        |    879000 | PA      | $776561.34    | 0.03%             | 2026-02-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                                 | FIFTH THIRD BANCORP JR SUBORDINA 12/99 VAR                  | CUSIP: 316773DB3<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    605000 | PA      | $586499.10    | 0.03%             | 2063-01-31      | Variable      | 4.50%                 | No            |                  2 | On Loan: —       |
| SUMMIT MATERIALS LLC                                | SUMMIT MATERIALS LLC TERM LOAN B                            | CUSIP: 86614DAJ7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    650000 | PA      | $652574.00    | 0.03%             | 2027-12-14      | Floating      | 8.66%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP/FINANCE CORP                              | SUNOCO LP/FINANCE CORP COMPANY GUAR 04/30 4.5               | CUSIP: 86765LAZ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    298000 | PA      | $265985.86    | 0.01%             | 2030-04-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                                  | FORD MOTOR COMPANY SR UNSECURED 08/32 6.1                   | CUSIP: 345370DB3<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   1240000 | PA      | $1218076.80   | 0.05%             | 2032-08-19      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                            | FORD MOTOR CREDIT CO LLC SR UNSECURED 11/30 4               | CUSIP: 345397B36<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1885000 | PA      | $1647716.20   | 0.07%             | 2030-11-13      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TKC HOLDINGS INC.                                   | TKC HOLDINGS INC 2021 TERM LOAN                             | CUSIP: 87256FAH7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    758108 | PA      | $636492.73    | 0.03%             | 2028-05-14      | Floating      | 10.23%                | No            |                  2 | On Loan: No      |
| TTM TECHNOLOGIES INC                                | TTM TECHNOLOGIES INC COMPANY GUAR 144A 03/29 4              | CUSIP: 87305RAK5<br>LEI: 549300SC4BDOIS008048 | Long             | DBT              | CORP              | US        |   1645000 | PA      | $1437976.75   | 0.06%             | 2029-03-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INTL                              | WILLIAMS SCOTSMAN INTL SR SECURED 144A 08/28 4.625          | CUSIP: 96950GAE2<br>LEI: 549300V3TCHCBOBTGH07 | Long             | DBT              | CORP              | US        |    298000 | PA      | $276380.10    | 0.01%             | 2028-08-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| TANDEM DIABETES CARE INC                            | TANDEM DIABETES CARE INC SR UNSECURED 144A 05/25 1.5        | CUSIP: N/A<br>LEI: 549300JEPFOD0K4D3I05       | Long             | DBT              | CORP              | US        |   5460000 | PA      | $4988474.40   | 0.22%             | 2025-05-01      | Fixed         | 1.50%                 | Yes           |                  2 | On Loan: No      |
| TAYLOR MORRISON COMM                                | TAYLOR MORRISON COMM COMPANY GUAR 144A 01/28 5.75           | CUSIP: 87724RAB8<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |    707000 | PA      | $686631.33    | 0.03%             | 2028-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| TEAM HEALTH HOLDINGS INC.                           | TEAM HEALTH HOLDINGS, INC. 2022 TERM LOAN B                 | CUSIP: 87817JAG3<br>LEI: 549300PVTQ4UDTTMQT11 | Long             | LON              | CORP              | US        |   2911601 | PA      | $2427547.15   | 0.11%             | 2027-02-02      | Floating      | 10.60%                | No            |                  2 | On Loan: No      |
| TELECOM ITALIA CAPITAL                              | TELECOM ITALIA CAPITAL COMPANY GUAR 09/34 6                 | CUSIP: 87927VAM0<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |    880000 | PA      | $707203.20    | 0.03%             | 2034-09-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES DREDGE&DOCK                             | GREAT LAKES DREDGE+DOCK COMPANY GUAR 144A 06/29 5.25        | CUSIP: 390607AF6<br>LEI: 549300H65E3MZ1CX0P05 | Long             | DBT              | CORP              | US        |   1303000 | PA      | $1100409.56   | 0.05%             | 2029-06-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| GREYSTAR REAL ESTATE PAR                            | GREYSTAR REAL ESTATE PAR SR SECURED 144A 12/25 5.75         | CUSIP: 39807UAB2<br>LEI: 254900HGC806SXAS4M46 | Long             | DBT              | CORP              | US        |   1891000 | PA      | $1868837.48   | 0.08%             | 2025-12-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| TELESAT CANADA/TELESAT L                            | TELESAT CANADA/TELESAT L SR SECURED 144A 06/27 4.875        | CUSIP: 87952VAP1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1196000 | PA      | $550435.08    | 0.02%             | 2027-06-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                               | TENET HEALTHCARE CORP SR UNSECURED 11/31 6.875              | CUSIP: 88033GAV2<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   1575000 | PA      | $1459946.25   | 0.06%             | 2031-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SVB FINANCIAL GROUP                                 | SVB FINANCIAL GROUP JR SUBORDINA 12/99 VAR                  | CUSIP: 78486QAP6<br>LEI: 549300D2KJ20JMXE7542 | Long             | DBT              | CORP              | US        |    133000 | PA      | $106503.74    | 0.00%             | 2063-01-31      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                 | CHARLES SCHWAB CORP JR SUBORDINA 12/99 VAR                  | CUSIP: 808513BD6<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    135000 | PA      | $134562.60    | 0.01%             | 2063-01-31      | Variable      | 5.38%                 | No            |                  2 | On Loan: —       |
| GROUP 1 AUTOMOTIVE INC                              | GROUP 1 AUTOMOTIVE INC COMPANY GUAR 144A 08/28 4            | CUSIP: 398905AN9<br>LEI: 549300US8QAZJLWYAF63 | Long             | DBT              | CORP              | US        |    511000 | PA      | $449613.57    | 0.02%             | 2028-08-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| GUITAR CENTER INC                                   | GUITAR CENTER INC SR SECURED 144A 01/26 8.5                 | CUSIP: 40204BAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1780000 | PA      | $1557179.60   | 0.07%             | 2026-01-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                               | TENET HEALTHCARE CORP 02/27 6.25                            | CUSIP: 88033GCX6<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   2710000 | PA      | $2658374.50   | 0.12%             | 2027-02-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| TEAM HEALTH HOLDINGS INC                            | TEAM HEALTH HOLDINGS INC COMPANY GUAR 144A 02/25 6.375      | CUSIP: 88047PAA2<br>LEI: 549300PVTQ4UDTTMQT11 | Long             | DBT              | CORP              | US        |   1251000 | PA      | $836043.30    | 0.04%             | 2025-02-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| TERRAFORM POWER OPERATIN                            | TERRAFORM POWER OPERATIN COMPANY GUAR 144A 01/28 5          | CUSIP: 88104LAE3<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1411395.00   | 0.06%             | 2028-01-31      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CMG MEDIA CORPORATION                               | CMG MEDIA CORPORATION 2021 TERM LOAN                        | CUSIP: 88145LAE4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    598473 | PA      | $569237.86    | 0.03%             | 2026-12-17      | Floating      | 8.74%                 | No            |                  2 | On Loan: No      |
| GULFPORT ENERGY OP CORP                             | GULFPORT ENERGY OP CORP COMPANY GUAR 05/26 8                | CUSIP: 402635AQ9<br>LEI: 549300FJX18IDUFPHD40 | Long             | DBT              | CORP              | US        |    305622 | PA      | $303641.57    | 0.01%             | 2026-05-17      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GULFPORT ENERGY OP CORP                             | GULFPORT ENERGY OP CORP COMPANY GUAR 144A 05/26 8           | CUSIP: 402635AR7<br>LEI: 549300FJX18IDUFPHD40 | Long             | DBT              | CORP              | US        |    885000 | PA      | $879265.20    | 0.04%             | 2026-05-17      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| CMG MEDIA CORPORATION                               | CMG MEDIA CORPORATION COMPANY GUAR 144A 12/27 8.875         | CUSIP: 88146LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $235116.00    | 0.01%             | 2027-12-15      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| TESLA INC                                           | TESLA INC SR UNSECURED 05/24 2                              | CUSIP: N/A<br>LEI: 54930043XZGB27CTOV49       | Long             | DBT              | CORP              | US        |    400000 | PA      | $3346112.00   | 0.15%             | 2024-05-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                             | TEVA PHARMACEUTICALS NE COMPANY GUAR 10/26 3.15             | CUSIP: 88167AAE1<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    535000 | PA      | $480285.55    | 0.02%             | 2026-10-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                             | TEVA PHARMACEUTICALS NE COMPANY GUAR 04/24 6                | CUSIP: 88167AAL5<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   2380000 | PA      | $2376620.40   | 0.11%             | 2024-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | ESC GCB GULFPORT ENERG 05/25 FIXED 6.375                    | CUSIP: N/A<br>LEI: 549300FJX18IDUFPHD40       | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1.00         | 0.00%             | 2025-05-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| HAWAIIAN BRAND INTELLECT                            | HAWAIIAN BRAND INTELLECT SR SECURED 144A 01/26 5.75         | CUSIP: 41984LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   1792000 | PA      | $1714746.88   | 0.08%             | 2026-01-20      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                             | TEVA PHARMACEUTICALS NE COMPANY GUAR 01/25 7.125            | CUSIP: 88167AAN1<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    550000 | PA      | $558052.00    | 0.02%             | 2025-01-31      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICAL INDU                            | TEVA PHARMACEUTICAL INDU COMPANY GUAR 05/27 4.75            | CUSIP: 88167AAP6<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   1100000 | PA      | $1023682.00   | 0.05%             | 2027-05-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TIME WARNER CABLE LLC                               | TIME WARNER CABLE LLC SR SECURED 07/38 7.3                  | CUSIP: 88732JAN8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    480000 | PA      | $516196.80    | 0.02%             | 2038-07-01      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                               | TORONTO DOMINION BANK JR SUBORDINA 10/82 VAR                | CUSIP: 89117F8Z5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    425000 | PA      | $451260.75    | 0.02%             | 2082-10-31      | Variable      | 8.12%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                   | HERC HOLDINGS INC COMPANY GUAR 144A 07/27 5.5               | CUSIP: 42704LAA2<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1439010.00   | 0.06%             | 2027-07-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                            | HILCORP ENERGY I/HILCORP SR UNSECURED 144A 04/30 6          | CUSIP: 431318AY0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1370000 | PA      | $1283977.70   | 0.06%             | 2030-04-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| TRANSDIGM INC                                       | TRANSDIGM INC SR SECURED 144A 03/26 6.25                    | CUSIP: 893647BE6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   1539000 | PA      | $1540000.35   | 0.07%             | 2026-03-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| TRANSDIGM INC                                       | TRANSDIGM INC COMPANY GUAR 03/27 7.5                        | CUSIP: 893647BH9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    875000 | PA      | $882472.50    | 0.04%             | 2027-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                            | SERVICE PROPERTIES TRUST SR UNSECURED 02/26 5.25            | CUSIP: 44106MAV4<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    550000 | PA      | $477097.50    | 0.02%             | 2026-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                            | SERVICE PROPERTIES TRUST SR UNSECURED 10/24 4.35            | CUSIP: 44106MAZ5<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1415610.00   | 0.06%             | 2024-10-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM UK HOLDINGS                               | TRANSDIGM UK HOLDINGS COMPANY GUAR 05/26 6.875              | CUSIP: 89365DAB9<br>LEI: 549300JTYP71LZZSE903 | Long             | DBT              | CORP              | GB        |   1200000 | PA      | $1190628.00   | 0.05%             | 2026-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                      | TRANSOCEAN INC SR SECURED 144A 02/30 8.75                   | CUSIP: 893830BX6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |    600000 | PA      | $619998.00    | 0.03%             | 2030-02-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| HOWARD MIDSTREAM ENERGY                             | HOWARD MIDSTREAM ENERGY SR UNSECURED 144A 01/27 6.75        | CUSIP: 442722AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    894000 | PA      | $872812.20    | 0.04%             | 2027-01-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| HUB INTERNATIONAL LIMITED                           | HUB INTERNATIONAL LTD 2022 TERM LOAN B                      | CUSIP: 44332EAV8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1225000 | PA      | $1225955.50   | 0.05%             | 2029-11-10      | Floating      | 8.86%                 | No            |                  2 | On Loan: No      |
| TRINSEO OP / TRINSEO FIN                            | TRINSEO OP / TRINSEO FIN COMPANY GUAR 144A 04/29 5.125      | CUSIP: 89668QAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    589000 | PA      | $426117.94    | 0.02%             | 2029-04-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| TRONOX INC                                          | TRONOX INC COMPANY GUAR 144A 03/29 4.625                    | CUSIP: 897051AC2<br>LEI: 549300EPZ4YXC7E5P181 | Long             | DBT              | CORP              | US        |    890000 | PA      | $762267.20    | 0.03%             | 2029-03-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                               | HUB INTERNATIONAL LTD COMPANY GUAR 144A 05/26 7             | CUSIP: 44332PAD3<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |   1877000 | PA      | $1869585.85   | 0.08%             | 2026-05-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                               | HUB INTERNATIONAL LTD SR UNSECURED 144A 12/29 5.625         | CUSIP: 44332PAG6<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |   1785000 | PA      | $1608052.95   | 0.07%             | 2029-12-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: —       |
| TRUIST FINANCIAL CORP                               | TRUIST FINANCIAL CORP JR SUBORDINA 12/99 VAR                | CUSIP: 89832QAD1<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    295000 | PA      | $284500.95    | 0.01%             | 2063-01-31      | Variable      | 4.80%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                               | TRUIST FINANCIAL CORP JR SUBORDINA 12/99 VAR                | CUSIP: 89832QAE9<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123927.50    | 0.01%             | 2063-01-31      | Variable      | 4.95%                 | No            |                  2 | On Loan: No      |
| TWILIO INC                                          | TWILIO INC COMPANY GUAR 03/29 3.625                         | CUSIP: 90138FAC6<br>LEI: 5493004W8TRGD63APX93 | Long             | DBT              | CORP              | US        |    830000 | PA      | $705856.90    | 0.03%             | 2029-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| TWILIO INC                                          | TWILIO INC COMPANY GUAR 03/31 3.875                         | CUSIP: 90138FAD4<br>LEI: 5493004W8TRGD63APX93 | Long             | DBT              | CORP              | US        |    298000 | PA      | $247360.86    | 0.01%             | 2031-03-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: —       |
| CHARLES SCHWAB CORP                                 | CHARLES SCHWAB CORP JR SUBORDINA 12/99 VAR                  | CUSIP: 808513BJ3<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    147000 | PA      | $126564.06    | 0.01%             | 2063-01-31      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                 | CHARLES SCHWAB CORP JR SUBORDINA 12/99 VAR                  | CUSIP: 808513BK0<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    325000 | PA      | $299659.75    | 0.01%             | 2063-01-31      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| COHERENT CORP                                       | COHERENT CORP COMPANY GUAR 144A 12/29 5                     | CUSIP: 902104AC2<br>LEI: 549300O5C25A0MMHHU33 | Long             | DBT              | CORP              | US        |    692000 | PA      | $633795.88    | 0.03%             | 2029-12-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| UBS GROUP AG                                        | UBS GROUP AG JR SUBORDINA 144A 12/99 4.875                  | CUSIP: 902613AJ7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $180464.00    | 0.01%             | 2063-01-31      | Variable      | 4.88%                 | Yes           |                  2 | On Loan: No      |
| HUGHES SATELLITE SYSTEMS                            | HUGHES SATELLITE SYSTEMS SR SECURED 08/26 5.25              | CUSIP: 444454AD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    345000 | PA      | $336840.75    | 0.01%             | 2026-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES                               | HUNTINGTON BANCSHARES JR SUBORDINA 12/99 VAR                | CUSIP: 446150AT1<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123345.00    | 0.01%             | 2063-01-31      | Variable      | 5.62%                 | No            |                  2 | On Loan: —       |
| STARWOOD PROPERTY TRUST INC                         | STARWOOD PROPERTY TRUST INC REIT USD.01                     | CUSIP: 85571B105<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | EC               | CORP              | US        |    157631 | NS      | $3292911.59   | 0.15%             |  |  |  | No            |                  1 | On Loan: —       |
| STRYKER CORP                                        | STRYKER CORP COMMON STOCK USD.1                             | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |     20295 | NS      | $5151073.95   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| SCIENTIFIC GAMES INTERNATIONAL INC.                 | SCIENTIFIC GAMES INTL INC 2022 USD TERM LOAN                | CUSIP: N/A<br>LEI: RLTHESQ0RNFQJWPBJN60       | Long             | LON              | CORP              | US        |   1393000 | PA      | $1393494.52   | 0.06%             | 2029-04-14      | Floating      | 8.66%                 | No            |                  2 | On Loan: No      |
| SCRIPPS ESCROW INC COMPANY GUAR 144A 07/27 5.875    | SCRIPPS ESCROW INC COMPANY GUAR 144A 07/27 5.875            | CUSIP: 81104PAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    985000 | PA      | $880461.95    | 0.04%             | 2027-07-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2019-2 B PTT                             | UNITED AIR 2019 2 B PTT PASS THRU CE 11/29 3.5              | CUSIP: 90932KAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    528523 | PA      | $474798.38    | 0.02%             | 2028-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC.                                | UNITED AIRLINES, INC. 2021 TERM LOAN B                      | CUSIP: 90932RAJ3<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | LON              | CORP              | US        |   1473750 | PA      | $1476498.54   | 0.07%             | 2028-04-21      | Floating      | 8.76%                 | No            |                  2 | On Loan: No      |
| SCRIPPS ESCROW II INC SR SECURED 144A 01/29 3.875   | SCRIPPS ESCROW II INC SR SECURED 144A 01/29 3.875           | CUSIP: 81105DAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    591000 | PA      | $496700.04    | 0.02%             | 2029-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SCRIPPS ESCROW II INC SR UNSECURED 144A 01/31 5.375 | SCRIPPS ESCROW II INC SR UNSECURED 144A 01/31 5.375         | CUSIP: 81105DAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    295000 | PA      | $238244.95    | 0.01%             | 2031-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                                     | SEALED AIR CORP COMPANY GUAR 144A 04/29 5                   | CUSIP: 81211KBA7<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |    298000 | PA      | $282867.56    | 0.01%             | 2029-04-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| SEALED AIR CORP                                     | SEALED AIR CORP SR UNSECURED 144A 02/28 6.125               | CUSIP: 812127AA6<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |    933000 | PA      | $942050.10    | 0.04%             | 2028-02-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| UNITED NATURAL FOODS INC                            | UNITED NATURAL FOODS INC COMPANY GUAR 144A 10/28 6.75       | CUSIP: 911163AA1<br>LEI: 549300GKGW6WPZ282D40 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1256541.00   | 0.06%             | 2028-10-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: —       |
| US CELLULAR CORP                                    | US CELLULAR CORP SR UNSECURED 12/33 6.7                     | CUSIP: 911684AD0<br>LEI: 549300B164AZXESI6E03 | Long             | DBT              | CORP              | US        |   1955000 | PA      | $1819518.50   | 0.08%             | 2033-12-15      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| SEMPRA ENERGY                                       | SEMPRA ENERGY JR SUBORDINA 12/99 VAR                        | CUSIP: 816851BK4<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |    125000 | PA      | $120186.25    | 0.01%             | 2063-01-31      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| SEMPRA ENERGY                                       | SEMPRA ENERGY JR SUBORDINA 04/52 VAR                        | CUSIP: 816851BM0<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |     85000 | PA      | $73948.30     | 0.00%             | 2052-04-01      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                     | US TREASURY N/B 03/24 2.25                                  | CUSIP: 91282CEG2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  36945000 | PA      | $35935506.69  | 1.59%             | 2024-03-31      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                     | US TREASURY N/B 05/24 2.5                                   | CUSIP: 91282CER8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  30400000 | PA      | $29577656.29  | 1.31%             | 2024-05-31      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES BV                             | SENSATA TECHNOLOGIES BV COMPANY GUAR 144A 04/29 4           | CUSIP: 81725WAK9<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |    650000 | PA      | $583934.00    | 0.03%             | 2029-04-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL                            | UNITED WHOLESALE MTGE LL SR UNSECURED 144A 06/27 5.75       | CUSIP: 913229AC4<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |    600000 | PA      | $540876.00    | 0.02%             | 2027-06-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                             | UNITI GROUP/CSL CAPITAL COMPANY GUAR 144A 02/29 6.5         | CUSIP: 91327BAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $415494.00    | 0.02%             | 2029-02-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| UNIVAR SOLUTIONS USA INC                            | UNIVAR SOLUTIONS USA INC COMPANY GUAR 144A 12/27 5.125      | CUSIP: 91337CAA4<br>LEI: 5493008FTB9VZW6CVA82 | Long             | DBT              | CORP              | US        |    321000 | PA      | $312249.54    | 0.01%             | 2027-12-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS INC.                       | UNIVISION COMMUNICATIONS INC 2022 FIRST LIEN TERM LOAN B    | CUSIP: 914908BD9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | LON              | CORP              | US        |    601975 | PA      | $602727.47    | 0.03%             | 2029-06-24      | Floating      | 9.06%                 | No            |                  2 | On Loan: No      |
| VFH PARENT LLC                                      | VFH PARENT LLC 2022 TERM LOAN B                             | CUSIP: N/A<br>LEI: 549300FRO9M476YHHY64       | Long             | LON              | CORP              | US        |   1633500 | PA      | $1628395.31   | 0.07%             | 2029-01-13      | Floating      | 8.62%                 | No            |                  2 | On Loan: No      |
| VOC ESCROW LTD SR SECURED 144A 02/28 5              | VOC ESCROW LTD SR SECURED 144A 02/28 5                      | CUSIP: 91832VAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1200000 | PA      | $1058004.00   | 0.05%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VZ SECURED FINANCING BV                             | VZ SECURED FINANCING BV SR SECURED 144A 01/32 5             | CUSIP: 91845AAA3<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |   1340000 | PA      | $1149036.60   | 0.05%             | 2032-01-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| VAIL RESORTS INC                                    | VAIL RESORTS INC SR UNSECURED 01/26 0.00000                 | CUSIP: N/A<br>LEI: 529900PSZHRNU9HKH870       | Long             | DBT              | CORP              | US        |   9760000 | PA      | $9290544.00   | 0.41%             | 2026-01-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: —       |
| VECTOR GROUP LTD                                    | VECTOR GROUP LTD SR SECURED 144A 02/29 5.75                 | CUSIP: 92240MBL1<br>LEI: 549300TUIF4WWN6NDN50 | Long             | DBT              | CORP              | US        |   1857000 | PA      | $1622535.18   | 0.07%             | 2029-02-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| VISTRA CORP                                         | VISTRA CORP JR SUBORDINA 144A VAR                           | CUSIP: 92840MAB8<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |    695000 | PA      | $681829.75    | 0.03%             | 2063-01-31      | Variable      | 8.00%                 | Yes           |                  2 | On Loan: No      |
| VISTRA CORP                                         | VISTRA CORP JR SUBORDINA 144A 12/99 VAR                     | CUSIP: 92840MAC6<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |    625000 | PA      | $589875.00    | 0.03%             | 2063-01-31      | Variable      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| VODAFONE GROUP PLC                                  | VODAFONE GROUP PLC JR SUBORDINA 04/79 VAR                   | CUSIP: 92857WBQ2<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    125000 | PA      | $129048.75    | 0.01%             | 2079-04-04      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| ISHARES RUSSELL 2000 ETF                            | ISHARES RUSSELL 2000 ETF MAR23 195 CALL                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       770 | NC      | $338415.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ISHARES MSCI EMERGING MARKETS ETF                   | ISHARES MSCI EMERGING MARKETS JUN23 42 CALL                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      6900 | NC      | $1359300.00   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| GLENCORE FUNDING LLC                                | GLENCORE FUNDING LLC COMPANY GUAR REGS 03/25 0.0000         | CUSIP: N/A<br>LEI: 213800STG1QDNBY87K49       | Long             | DBT              | CORP              | US        |   5800000 | PA      | $6720112.00   | 0.30%             | 2025-03-27      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ANLLIAN CAPITAL LTD                                 | ANLLIAN CAPITAL LTD COMPANY GUAR REGS 02/25 0.0000          | CUSIP: N/A<br>LEI: 529900WNC73E6N8L3G81       | Long             | DBT              | CORP              | VG        |   2100000 | PA      | $2898219.90   | 0.13%             | 2025-02-05      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ZHONGSHENG GROUP                                    | ZHONGSHENG GROUP SR UNSECURED REGS 05/25 0.0000             | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | KY        |  18000000 | PA      | $2728482.43   | 0.12%             | 2025-05-21      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CAMELOT U.S. ACQUISITION LLC                        | CAMELOT U.S. ACQUISITION 1 CO TERM LOAN B                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1053990 | PA      | $1053858.12   | 0.05%             | 2026-10-31      | Floating      | 8.23%                 | No            |                  2 | On Loan: No      |
| CAMELOT U.S. ACQUISITION LLC                        | CAMELOT US ACQUISITION 1 CO. 2020 INCREMENTAL TERM LOAN     | CUSIP: N/A<br>LEI: 549300U6VBJHQP2SFL81       | Long             | LON              | CORP              | US        |    416679 | PA      | $416874.74    | 0.02%             | 2026-10-31      | Floating      | 7.98%                 | No            |                  2 | On Loan: No      |
| ICON LUXEMBOURG S.A.R.L.                            | ICON LUXEMBOURG SARL LUX TERM LOAN                          | CUSIP: N/A<br>LEI: 635400PUWMHSPI2DDA35       | Long             | LON              | CORP              | LU        |    777543 | PA      | $778518.98    | 0.03%             | 2028-07-01      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| PRA HEALTH SCIENCES INC.                            | PRA HEALTH SCIENCES, INC. US TERM LOAN                      | CUSIP: N/A<br>LEI: 549300R1HR1VWWHIAK47       | Long             | LON              | CORP              | US        |    193725 | PA      | $193968.49    | 0.01%             | 2028-07-01      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| MALLINCKRODT INTERNATIONAL FINANCE S.A.             | MALLINCKRODT INTERNA FIN SA 2022 USD TERM LOAN              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | LU        |   1132409 | PA      | $872016.87    | 0.04%             | 2027-09-30      | Floating      | 10.26%                | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                               | DIRECTV FIN LLC/COINC SR SECURED 144A 08/27 5.875           | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1633000 | PA      | $1481718.88   | 0.07%             | 2027-08-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| DISCOVER FINANCIAL SVS                              | DISCOVER FINANCIAL SVS JR SUBORDINA 12/99 VAR               | CUSIP: 254709AN8<br>LEI: Z1YLO2USPORE63VVUL20 | Long             | DBT              | CORP              | US        |    135000 | PA      | $119038.95    | 0.01%             | 2063-01-31      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                | BANK OF AMERICA CORP JR SUBORDINA 12/99 VAR                 | CUSIP: 06055HAB9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    304000 | PA      | $303343.36    | 0.01%             | 2063-01-31      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                                    | BANK OF MONTREAL JR SUBORDINA 12/99 VAR                     | CUSIP: 06368B5P9<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    145000 | PA      | $137464.35    | 0.01%             | 2063-01-31      | Variable      | 4.80%                 | No            |                  2 | On Loan: No      |
| DISCOVER FINANCIAL SVS                              | DISCOVER FINANCIAL SVS JR SUBORDINA 12/99 VAR               | CUSIP: 254709AQ1<br>LEI: Z1YLO2USPORE63VVUL20 | Long             | DBT              | CORP              | US        |    245000 | PA      | $244338.50    | 0.01%             | 2063-01-31      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP                                   | DISH NETWORK CORP SR UNSECURED 08/26 3.375                  | CUSIP: N/A<br>LEI: 529900U350CWHH15G169       | Long             | DBT              | CORP              | US        |  13435000 | PA      | $8782056.45   | 0.39%             | 2026-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP                                   | DISH NETWORK CORP SR UNSECURED 03/24 2.375                  | CUSIP: N/A<br>LEI: 529900U350CWHH15G169       | Long             | DBT              | CORP              | US        |   2379000 | PA      | $2217251.79   | 0.10%             | 2024-03-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP                                   | DISH NETWORK CORP SR UNSECURED 12/25 0.00000                | CUSIP: N/A<br>LEI: 529900U350CWHH15G169       | Long             | DBT              | CORP              | US        |   5295000 | PA      | $3518103.90   | 0.16%             | 2025-12-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                       | DISH DBS CORP SR SECURED 144A 12/26 5.25                    | CUSIP: 25470XBE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1495000 | PA      | $1289198.30   | 0.06%             | 2026-12-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| DOMINION ENERGY INC                                 | DOMINION ENERGY INC JR SUBORDINA 12/99 VAR                  | CUSIP: 25746UDD8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |    250000 | PA      | $234450.00    | 0.01%             | 2063-01-31      | Variable      | 4.65%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                              | BANK OF NY MELLON CORP JR SUBORDINA 12/99 VAR               | CUSIP: 064058AH3<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    763000 | PA      | $747907.86    | 0.03%             | 2063-01-31      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                 | BANK OF NOVA SCOTIA JR SUBORDINA 10/81 VAR                  | CUSIP: 0641598N9<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    240000 | PA      | $189686.40    | 0.01%             | 2081-10-27      | Variable      | 3.62%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                 | BANK OF NOVA SCOTIA JR SUBORDINA 12/99 VAR                  | CUSIP: 064159VJ2<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    220000 | PA      | $213985.20    | 0.01%             | 2063-01-31      | Variable      | 4.90%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                        | BARCLAYS PLC JR SUBORDINA 12/99 VAR                         | CUSIP: 06738EBT1<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    220000 | PA      | $179641.00    | 0.01%             | 2063-01-31      | Variable      | 4.38%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                        | BARCLAYS PLC JR SUBORDINA 12/99 8                           | CUSIP: 06738EBX2<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    275000 | PA      | $275882.75    | 0.01%             | 2063-03-15      | Variable      | 8.00%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                               | BAUSCH HEALTH COS INC SR SECURED 144A 02/27 6.125           | CUSIP: 071734AP2<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    447000 | PA      | $305336.76    | 0.01%             | 2027-02-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| DOMINION ENERGY INC                                 | DOMINION ENERGY INC JR SUBORDINA 12/99 VAR                  | CUSIP: 25746UDM8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |    133000 | PA      | $118540.24    | 0.01%             | 2063-01-31      | Variable      | 4.35%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                    | DUKE ENERGY CORP JR SUBORDINA 12/99 VAR                     | CUSIP: 26441CBG9<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    330000 | PA      | $320189.10    | 0.01%             | 2063-01-31      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                               | BAUSCH HEALTH COS INC SR SECURED 144A 09/28 11              | CUSIP: 071734AQ0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   2370000 | PA      | $1861966.80   | 0.08%             | 2028-09-30      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                               | BAUSCH HEALTH COS INC SECURED 144A 10/30 14                 | CUSIP: 071734AR8<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    469000 | PA      | $302913.03    | 0.01%             | 2030-10-15      | Fixed         | 14.00%                | Yes           |                  2 | On Loan: No      |
| BEACON ROOFING SUPPLY IN                            | BEACON ROOFING SUPPLY IN COMPANY GUAR 144A 05/29 4.125      | CUSIP: 073685AH2<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |    937000 | PA      | $807975.10    | 0.04%             | 2029-05-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| BEASLEY MEZ HLDGS LLC                               | BEASLEY MEZ HLDGS LLC SR SECURED 144A 02/26 8.625           | CUSIP: 07403VAA7<br>LEI: 549300VK8LJV1TK18D38 | Long             | DBT              | CORP              | US        |    884000 | PA      | $578136.00    | 0.03%             | 2026-02-01      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| KEYCORP                                             | KEYCORP COMMON STOCK USD1.0                                 | CUSIP: 493267108<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EC               | CORP              | US        |    502205 | NS      | $9637313.95   | 0.43%             |  |  |  | No            |                  1 | On Loan: —       |
| DUKE ENERGY CORP                                    | DUKE ENERGY CORP JR SUBORDINA 01/82 VAR                     | CUSIP: 26441CBP9<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    132000 | PA      | $107690.88    | 0.00%             | 2082-01-15      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| DUN & BRADSTREET CORPORATION (THE)                  | DUN + BRADSTREET CORP TERM LOAN                             | CUSIP: 26483NAN0<br>LEI: RI37BMPWE56BCJ747E14 | Long             | LON              | CORP              | US        |   1173250 | PA      | $1172728.01   | 0.05%             | 2026-02-08      | Floating      | 8.49%                 | No            |                  2 | On Loan: No      |
| MASTERCARD INC                                      | MASTERCARD INC   A COMMON STOCK USD.0001                    | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |     72315 | NS      | $26799939.00  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| CAESARS ENTERTAIN INC                               | CAESARS ENTERTAIN INC SR UNSECURED 144A 07/27 8.125         | CUSIP: 28470RAK8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    605000 | PA      | $614601.35    | 0.03%             | 2027-07-01      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: —       |
| VENTURE GLOBAL CALCASIEU                            | VENTURE GLOBAL CALCASIEU SR SECURED 144A 08/29 3.875        | CUSIP: 92328MAA1<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |    300000 | PA      | $267900.00    | 0.01%             | 2029-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| BILL.COM HOLDINGS INC                               | BILL.COM HOLDINGS INC SR UNSECURED 12/25 0.00000            | CUSIP: N/A<br>LEI: 549300IBF9VZZIGOZW63       | Long             | DBT              | CORP              | US        |   3535000 | PA      | $3712881.20   | 0.16%             | 2025-12-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| BILL.COM HOLDINGS INC                               | BILL.COM HOLDINGS INC SR UNSECURED 04/27 0.00000            | CUSIP: N/A<br>LEI: 549300IBF9VZZIGOZW63       | Long             | DBT              | CORP              | US        |   7838000 | PA      | $6347134.02   | 0.28%             | 2027-04-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                            | VENTURE GLOBAL CALCASIEU SR SECURED 144A 08/31 4.125        | CUSIP: 92328MAB9<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |    300000 | PA      | $266643.00    | 0.01%             | 2031-08-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                            | VENTURE GLOBAL CALCASIEU SR SECURED 144A 01/30 6.25         | CUSIP: 92328MAE3<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76493.25     | 0.00%             | 2030-01-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| BOOZ ALLEN HAMILTON INC                             | BOOZ ALLEN HAMILTON INC COMPANY GUAR 144A 07/29 4           | CUSIP: 09951LAB9<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |    596000 | PA      | $535887.44    | 0.02%             | 2029-07-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| BRITISH AIR 21-1 B PTT                              | BRITISH AIR 21 1 B PTT PASS THRU CE 144A 03/33 3.9          | CUSIP: 11042CAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1313181 | PA      | $1122822.66   | 0.05%             | 2031-09-15      | Fixed         | 3.90%                 | Yes           |                  2 | On Loan: No      |
| ACCO BRANDS CORP                                    | ACCO BRANDS CORP COMPANY GUAR 144A 03/29 4.25               | CUSIP: 00081TAK4<br>LEI: JCT8P4Y190IH4I1NX328 | Long             | DBT              | CORP              | US        |   1355000 | PA      | $1173213.20   | 0.05%             | 2029-03-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| AG ISSUER LLC                                       | AG ISSUER LLC SR SECURED 144A 03/28 6.25                    | CUSIP: 00119LAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1892000 | PA      | $1790399.60   | 0.08%             | 2028-03-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| API GROUP DE INC                                    | API GROUP DE INC COMPANY GUAR 144A 10/29 4.75               | CUSIP: 00185PAA9<br>LEI: 549300XP4G7B4QYA0G83 | Long             | DBT              | CORP              | US        |   1415000 | PA      | $1277645.95   | 0.06%             | 2029-10-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                            | AMERICAN AIRLINES/AADVAN SR SECURED 144A 04/26 5.5          | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    884000 | PA      | $867646.00    | 0.04%             | 2026-04-20      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| AIR CANADA 2015-2B PTT                              | AIR CANADA 2015 2B PTT PASS THRU CE 144A 06/25 5            | CUSIP: 009088AC9<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    226166 | PA      | $220473.47    | 0.01%             | 2023-12-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| AIR CANADA 2015-1B PTT                              | AIR CANADA 2015 1B PTT PASS THRU CE 144A 09/24 3.875        | CUSIP: 009090AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1740545 | PA      | $1733773.91   | 0.08%             | 2023-03-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| AIR LEASE CORP                                      | AIR LEASE CORP JR SUBORDINA 12/99 VAR                       | CUSIP: 00912XBJ2<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    320000 | PA      | $284467.20    | 0.01%             | 2063-01-31      | Variable      | 4.65%                 | No            |                  2 | On Loan: No      |
| NEW ALBERTSONS LP                                   | NEW ALBERTSONS LP SR UNSECURED 06/26 7.75                   | CUSIP: 013104AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    751000 | PA      | $764908.52    | 0.03%             | 2026-06-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| HOWMET AEROSPACE INC                                | HOWMET AEROSPACE INC SR UNSECURED 10/24 5.125               | CUSIP: 013817AW1<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |   1375000 | PA      | $1373322.50   | 0.06%             | 2024-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ALGONQUIN PWR & UTILITY                             | ALGONQUIN PWR + UTILITY JR SUBORDINA 01/82 VAR              | CUSIP: 015857AH8<br>LEI: 549300K5VIUTJXQL7X75 | Long             | DBT              | CORP              | CA        |    340000 | PA      | $286783.20    | 0.01%             | 2082-01-18      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES GROUP                             | AMERICAN AIRLINES GROUP COMPANY GUAR 144A 03/25 3.75        | CUSIP: 02376RAE2<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |    295000 | PA      | $276046.25    | 0.01%             | 2025-03-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: —       |
| AMERICAN AXLE AND MANUFACTURING INC.                | AMERICAN AXLE + MANUFACTURING 2022 TERM LOAN B              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    800000 | PA      | $801332.00    | 0.04%             | 2029-12-13      | Floating      | 9.12%                 | No            |                  2 | On Loan: No      |
| VERTIV GROUP CORPORATION                            | VERTIV GROUP CORPORATION SR SECURED 144A 11/28 4.125        | CUSIP: 92535UAB0<br>LEI: 549300ZT8RQ5VK10E643 | Long             | DBT              | CORP              | US        |   1191000 | PA      | $1039111.77   | 0.05%             | 2028-11-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| VIAVI SOLUTIONS INC                                 | VIAVI SOLUTIONS INC COMPANY GUAR 144A 10/29 3.75            | CUSIP: 925550AF2<br>LEI: 5493006K3E3N1QOBF092 | Long             | DBT              | CORP              | US        |   1475000 | PA      | $1287527.50   | 0.06%             | 2029-10-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                 | AMERICAN EXPRESS CO JR SUBORDINA 12/99 VAR                  | CUSIP: 025816CH0<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    163000 | PA      | $144519.06    | 0.01%             | 2063-01-31      | Variable      | 3.55%                 | No            |                  2 | On Loan: No      |
| NECESS RETAIL/AFIN OP LP                            | NECESS RETAIL/AFIN OP LP COMPANY GUAR 144A 09/28 4.5        | CUSIP: 02608AAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1370000 | PA      | $1053872.50   | 0.05%             | 2028-09-30      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| BROADSTREET PARTNERS INC                            | BROADSTREET PARTNERS INC SR UNSECURED 144A 04/29 5.875      | CUSIP: 11135RAA3<br>LEI: 549300BS9N54G8DD0R75 | Long             | DBT              | CORP              | US        |   2379000 | PA      | $2103012.21   | 0.09%             | 2029-04-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| BROOKFIELD PPTY REIT INC                            | BROOKFIELD PPTY REIT INC SR SECURED 144A 04/27 4.5          | CUSIP: 11284DAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2380000 | PA      | $2101706.60   | 0.09%             | 2027-04-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN INTL GROUP                                 | AMERICAN INTL GROUP JR SUBORDINA 04/48 VAR                  | CUSIP: 026874DM6<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |    250000 | PA      | $246402.50    | 0.01%             | 2048-04-01      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| AMNEAL PHARMACEUTICALS LLC                          | AMNEAL PHARMACEUTICALS LLC TERM LOAN B                      | CUSIP: 03167DAH7<br>LEI: 54930037VIXE7LRZ1M66 | Long             | LON              | CORP              | US        |   2090775 | PA      | $1976221.38   | 0.09%             | 2025-05-04      | Floating      | 8.22%                 | No            |                  2 | On Loan: No      |
| AMWINS GROUP INC                                    | AMWINS GROUP INC SR UNSECURED 144A 06/29 4.875              | CUSIP: 031921AB5<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |   2365000 | PA      | $2087017.90   | 0.09%             | 2029-06-30      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| ANTERO RESOURCES CORP                               | ANTERO RESOURCES CORP COMPANY GUAR 144A 03/30 5.375         | CUSIP: 03674XAS5<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | DBT              | CORP              | US        |   1198000 | PA      | $1118356.96   | 0.05%             | 2030-03-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| APACHE CORP                                         | APACHE CORP SR UNSECURED 09/40 5.1                          | CUSIP: 037411AW5<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | DBT              | CORP              | US        |   1187000 | PA      | $1037153.12   | 0.05%             | 2040-09-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| ARCELORMITTAL                                       | ARCELORMITTAL SR UNSECURED 10/39 7                          | CUSIP: 03938LAP9<br>LEI: 549300MP4YSRSQ39ZG33 | Long             | DBT              | CORP              | LU        |    623000 | PA      | $674671.62    | 0.03%             | 2039-10-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ASSUREDPARTNERS INC.                                | ASSUREDPARTNERS INC 2022 TERM LOAN                          | CUSIP: 04621HAT0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1182023 | PA      | $1170757.93   | 0.05%             | 2027-02-13      | Floating      | 9.12%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                            | CAPITAL ONE FINANCIAL CO JR SUBORDINA 12/99 VAR             | CUSIP: 14040HCF0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    323000 | PA      | $281475.12    | 0.01%             | 2063-01-31      | Variable      | 3.95%                 | No            |                  2 | On Loan: —       |
| CLYDESDALE ACQUISITION HOLDINGS INC                 | CLYDESDALE ACQ HOLDINGS INC. TERM LOAN B                    | CUSIP: 18972FAC6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    592025 | PA      | $582576.28    | 0.03%             | 2029-04-13      | Floating      | 9.87%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                              | CCO HLDGS LLC/CAP CORP SR UNSECURED 144A 05/27 5.125        | CUSIP: 1248EPBT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3900000 | PA      | $3720210.00   | 0.17%             | 2027-05-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                              | CCO HLDGS LLC/CAP CORP SR UNSECURED 144A 02/28 5            | CUSIP: 1248EPBX0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    620000 | PA      | $579092.40    | 0.03%             | 2028-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| COMMERCIAL METALS CO                                | COMMERCIAL METALS CO SR UNSECURED 03/32 4.375               | CUSIP: 201723AR4<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |    298000 | PA      | $263908.80    | 0.01%             | 2032-03-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| EXXON MOBIL CORP                                    | EXXON MOBIL CORP COMMON STOCK                               | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    355670 | NS      | $41261276.70  | 1.83%             |  |  |  | No            |                  1 | On Loan: —       |
| META PLATFORMS INC                                  | META PLATFORMS INC CLASS A COMMON STOCK USD.000006          | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |    146450 | NS      | $21816656.50  | 0.97%             |  |  |  | No            |                  1 | On Loan: —       |
| FIDELITY NATIONAL INFORMATION SERVICES INC          | FIDELITY NATIONAL INFO SERV COMMON STOCK USD.01             | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |     58910 | NS      | $4420606.40   | 0.20%             |  |  |  | No            |                  1 | On Loan: —       |
| CCO HLDGS LLC/CAP CORP                              | CCO HLDGS LLC/CAP CORP SR UNSECURED 144A 03/30 4.75         | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1137916.00   | 0.05%             | 2030-03-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                              | CCO HLDGS LLC/CAP CORP SR UNSECURED 144A 08/30 4.5          | CUSIP: 1248EPCE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $513378.00    | 0.02%             | 2030-08-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| FIRST CITIZENS BANCSHARE                            | FIRST CITIZENS BANCSHARE PREFERRED STOCK 5.625              | CUSIP: 31959X202<br>LEI: 549300N3Z00ZHE2XC526 | Long             | EP               | CORP              | US        |      1201 | NS      | $25677.38     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| FORESTAR GROUP INC                                  | FORESTAR GROUP INC COMPANY GUAR 144A 03/28 5                | CUSIP: 346232AE1<br>LEI: 549300BC2UB0GHV60V70 | Long             | DBT              | CORP              | US        |    862000 | PA      | $758120.38    | 0.03%             | 2028-03-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| FREEPORT-MCMORAN INC                                | FREEPORT MCMORAN INC COMMON STOCK USD.1                     | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |    214585 | NS      | $9574782.70   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| FRONTIER COMMUNICATIONS                             | FRONTIER COMMUNICATIONS SR SECURED 144A 05/28 5             | CUSIP: 35906ABF4<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |    749000 | PA      | $680346.66    | 0.03%             | 2028-05-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                              | CCO HLDGS LLC/CAP CORP SR UNSECURED 144A 02/31 4.25         | CUSIP: 1248EPCK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1198000 | PA      | $998844.48    | 0.04%             | 2031-02-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                              | CCO HLDGS LLC/CAP CORP SR UNSECURED 144A 02/32 4.75         | CUSIP: 1248EPCQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    596000 | PA      | $507094.68    | 0.02%             | 2032-02-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                             | FRONTIER COMMUNICATIONS SR SECURED 144A 05/30 8.75          | CUSIP: 35908MAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    298000 | PA      | $308948.52    | 0.01%             | 2030-05-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                    | PARAMOUNT GLOBAL JR SUBORDINA 03/62 VAR                     | CUSIP: 92556HAE7<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    740000 | PA      | $644628.80    | 0.03%             | 2062-03-30      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                  | VIKING CRUISES LTD SR SECURED 144A 05/25 13                 | CUSIP: 92676XAE7<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |    290000 | PA      | $307785.70    | 0.01%             | 2025-05-15      | Fixed         | 13.00%                | Yes           |                  2 | On Loan: No      |
| N/A                                                 | S+P 500 INDEX MAR23 4000 PUT                                | CUSIP: N/A<br>LEI: 549300Z6HPQS1H5IYQ07       | N/A              | DE               |  | US        |       110 | NC      | $875050.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| FRONTIER COMMUNICATIONS PARENT INC                  | FRONTIER COMMUNICATIONS PARE COMMON STOCK USD.25            | CUSIP: 35909D109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         2 | NS      | $59.22        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| GE HEALTHCARE TECHNOLOGIES INC                      | GE HEALTHCARE TECHNOLOGY COMMON STOCK                       | CUSIP: 36266G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34856 | NS      | $2423189.12   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                              | CCO HLDGS LLC/CAP CORP SR UNSECURED 144A 09/29 6.375        | CUSIP: 1248EPCS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1370000 | PA      | $1323241.90   | 0.06%             | 2029-09-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| ENTERCOM MEDIA CORP.                                | ENTERCOM MEDIA CORP 2019 TERM LOAN                          | CUSIP: 12506KAE9<br>LEI: 549300S5JUSXRHNCHD80 | Long             | LON              | CORP              | US        |   1755000 | PA      | $1265425.20   | 0.06%             | 2024-11-17      | Floating      | 7.74%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS CO                                   | GENERAL MOTORS CO COMMON STOCK USD.01                       | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |    243463 | NS      | $9572965.16   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| GILEAD SCIENCES INC                                 | GILEAD SCIENCES INC COMMON STOCK USD.001                    | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |    150220 | NS      | $12609466.80  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| CDI ESCROW ISSUER INC SR UNSECURED 144A 04/30 5.75  | CDI ESCROW ISSUER INC SR UNSECURED 144A 04/30 5.75          | CUSIP: 12511VAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    596000 | PA      | $565568.24    | 0.03%             | 2030-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                            | CHS/COMMUNITY HEALTH SYS SR SECURED 144A 03/26 8            | CUSIP: 12543DBC3<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   1325000 | PA      | $1288284.25   | 0.06%             | 2026-03-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| GLOBAL NET LEASE INC                                | GLOBAL NET LEASE INC PUBLIC USD25.0                         | CUSIP: 379378409<br>LEI: 549300NUYANCT5SU8Z65 | Long             | EC               | CORP              | US        |      3625 | NS      | $85441.25     | 0.00%             | 2049-12-31      | Fixed         | 6.88%                 | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS GROUP INC/THE                         | GOLDMAN SACHS GROUP INC COMMON STOCK USD.01                 | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |     27300 | NS      | $9986613.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: —       |
| ILFC E-CAPITAL TRUST II                             | ILFC E CAPITAL TRUST II LIMITD GUARA 144A 12/65 VAR         | CUSIP: 44965UAA2<br>LEI: N/A                  | Long             | SN               | CORP              | US        |   2448000 | PA      | $1652914.08   | 0.07%             | 2065-12-21      | Variable      | 6.54%                 | Yes           |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                 | JPMORGAN CHASE + CO COMMON STOCK USD1.0                     | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |    212020 | NS      | $29674319.20  | 1.32%             |  |  |  | No            |                  1 | On Loan: —       |
| CHS/COMMUNITY HEALTH SYS                            | CHS/COMMUNITY HEALTH SYS SECURED 144A 04/29 6.875           | CUSIP: 12543DBJ8<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    663000 | PA      | $419944.20    | 0.02%             | 2029-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                            | CHS/COMMUNITY HEALTH SYS SECURED 144A 04/30 6.125           | CUSIP: 12543DBL3<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   2392000 | PA      | $1453331.36   | 0.06%             | 2030-04-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| NVIDIA CORP                                         | NVIDIA CORP COMMON STOCK USD.001                            | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    204580 | NS      | $39968794.60  | 1.77%             |  |  |  | No            |                  1 | On Loan: —       |
| PEPSICO INC                                         | PEPSICO INC COMMON STOCK USD.017                            | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |    112795 | NS      | $19290200.90  | 0.86%             |  |  |  | No            |                  1 | On Loan: —       |
| PFIZER INC                                          | PFIZER INC COMMON STOCK USD.05                              | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |    314685 | NS      | $13896489.60  | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| PHILIP MORRIS INTERNATIONAL INC                     | PHILIP MORRIS INTERNATIONAL COMMON STOCK                    | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |    179035 | NS      | $18662608.40  | 0.83%             |  |  |  | No            |                  1 | On Loan: —       |
| CHS/COMMUNITY HEALTH SYS                            | CHS/COMMUNITY HEALTH SYS SR SECURED 144A 05/30 5.25         | CUSIP: 12543DBM1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    149000 | PA      | $120339.85    | 0.01%             | 2030-05-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| CMS ENERGY CORP                                     | CMS ENERGY CORP JR SUBORDINA 06/50 VAR                      | CUSIP: 125896BU3<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |    150000 | PA      | $136593.00    | 0.01%             | 2050-06-01      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                    | CSC HOLDINGS LLC COMPANY GUAR 144A 04/27 5.5                | CUSIP: 126307AQ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   1940000 | PA      | $1710207.00   | 0.08%             | 2027-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                    | CSC HOLDINGS LLC COMPANY GUAR 144A 02/28 5.375              | CUSIP: 126307AS6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1514412.00   | 0.07%             | 2028-02-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                    | CSC HOLDINGS LLC SR UNSECURED 144A 01/30 5.75               | CUSIP: 126307BA4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   1950000 | PA      | $1232517.00   | 0.05%             | 2030-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                    | CSC HOLDINGS LLC SR UNSECURED 144A 12/30 4.625              | CUSIP: 126307BD8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1066536.00   | 0.05%             | 2030-12-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| PIONEER NATURAL RESOURCES CO                        | PIONEER NATURAL RESOURCES CO COMMON STOCK USD.01            | CUSIP: 723787107<br>LEI: FY8JBF7CCL2VE4F1B628 | Long             | EC               | CORP              | US        |     24975 | NS      | $5752991.25   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| PROCTER & GAMBLE CO/THE                             | PROCTER + GAMBLE CO/THE COMMON STOCK                        | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |    203745 | NS      | $29009213.10  | 1.29%             |  |  |  | No            |                  1 | On Loan: —       |
| PROSPECT CAPITAL CORP                               | PROSPECT CAPITAL CORP PREFERRED STOCK 5.35                  | CUSIP: 74348T565<br>LEI: 549300FSD8T39P5Q0O47 | Long             | EP               | CORP              | US        |      6915 | NS      | $118384.80    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM INC                                        | QUALCOMM INC COMMON STOCK USD.0001                          | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |     66010 | NS      | $8793192.10   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| CSC HOLDINGS LLC                                    | CSC HOLDINGS LLC COMPANY GUAR 144A 11/31 4.5                | CUSIP: 126307BH9<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   1395000 | PA      | $1029286.80   | 0.05%             | 2031-11-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| CAESARS ENTERTAINMENT CORP                          | CAESARS ENTERTAINMENT CORP TERM LOAN B                      | CUSIP: 12768EAG1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    600000 | PA      | $600216.00    | 0.03%             | 2030-01-25      | Floating      | 8.06%                 | No            |                  2 | On Loan: No      |
| QWEST CORP                                          | QWEST CORP PREFERRED STOCK 09/56 6.5                        | CUSIP: 74913G881<br>LEI: 549300R2L4N683OO1509 | Long             | EP               | CORP              | US        |     22500 | NS      | $463500.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| QURATE RETAIL INC                                   | QURATE RETAIL INC PREFERRED STOCK 03/31 8                   | CUSIP: 74915M308<br>LEI: 549300PSXEKU4PHLCR04 | Long             | EP               | CORP              | US        |       605 | NS      | $28495.50     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CAESARS ENTERTAIN INC                               | CAESARS ENTERTAIN INC SR UNSECURED 144A 10/29 4.625         | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    728000 | PA      | $622490.96    | 0.03%             | 2029-10-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: —       |
| CALLON PETROLEUM CO                                 | CALLON PETROLEUM CO COMPANY GUAR 144A 06/30 7.5             | CUSIP: 13123XBF8<br>LEI: 549300EFOWPEB0WLZW21 | Long             | DBT              | CORP              | US        |   1670000 | PA      | $1617662.20   | 0.07%             | 2030-06-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| THERMO FISHER SCIENTIFIC INC                        | THERMO FISHER SCIENTIFIC INC COMMON STOCK USD1.0            | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |     21460 | NS      | $12239281.80  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| TIDEWATER INC                                       | TIDEWATER INC TIDEWATER INC CW42                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |     47885 | NS      | $2286029.90   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| T-MOBILE US INC                                     | 2020 CASH EXCH TRUST PREFERRED STOCK 06/23 5.25             | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     31975 | NS      | $38542025.50  | 1.71%             |  |  |  | Yes           |                  1 | On Loan: No      |
| VULCAN MATERIALS CO                                 | VULCAN MATERIALS CO COMMON STOCK USD1.0                     | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |     23420 | NS      | $4293588.60   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| CARNIVAL CORP                                       | CARNIVAL CORP SECURED 144A 02/26 10.5                       | CUSIP: 143658BG6<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    582000 | PA      | $609400.56    | 0.03%             | 2026-02-01      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| CARNIVAL CORP                                       | CARNIVAL CORP SR UNSECURED 144A 03/26 7.625                 | CUSIP: 143658BL5<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    295000 | PA      | $268768.60    | 0.01%             | 2026-03-01      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: —       |
| BROOKFIELD PROPERTY PART                            | BROOKFIELD PROPERTY PART PREFERRED STOCK 5.75               | CUSIP: EP0585729<br>LEI: 5493004J5Z0TZW83NU62 | Long             | EP               | CORP              | BM        |     11275 | NS      | $205656.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD RENEWABLE PAR                            | BROOKFIELD RENEWABLE PAR PREFERRED STOCK 5.25               | CUSIP: EP0586206<br>LEI: VA8DFMRI2GY8Y7V79H93 | Long             | EP               | CORP              | BM        |      6000 | NS      | $125940.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| CARRIAGE SERVICES INC                               | CARRIAGE SERVICES INC COMPANY GUAR 144A 05/29 4.25          | CUSIP: 143905AP2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1385000 | PA      | $1140824.50   | 0.05%             | 2029-05-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| CARPENTER TECHNOLOGY                                | CARPENTER TECHNOLOGY SR UNSECURED 03/30 7.625               | CUSIP: 144285AM5<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | DBT              | CORP              | US        |    295000 | PA      | $303127.25    | 0.01%             | 2030-03-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| LINDE PLC                                           | LINDE PLC COMMON STOCK EUR.001                              | CUSIP: N/A<br>LEI: 8945002PAZHZLBGKGF02       | Long             | EC               | CORP              | IE        |    102435 | NS      | $33899838.90  | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| MALLINCKRODT PLC                                    | MALLINCKRODT PLC COMMON STOCK                               | CUSIP: N/A<br>LEI: 549300LMDE3RUP8Z3L60       | Long             | EC               | CORP              | IE        |     17140 | NS      | $128550.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MCDERMOTT INTERNATIONAL LTD                         | MCDERMOTT INTERNATIONAL LTD MCDERMOTT INTER TR A   CW27     | CUSIP: N/A<br>LEI: 54930004RAXI4B3L4752       | N/A              | DE               | CORP              | BM        |     51723 | NS      | $5.17         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CARVANA CO                                          | CARVANA CO COMPANY GUAR 144A 09/29 4.875                    | CUSIP: 146869AH5<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    900000 | PA      | $402030.00    | 0.02%             | 2029-09-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| CASCADES INC/USA INC                                | CASCADES INC/USA INC COMPANY GUAR 144A 01/26 5.125          | CUSIP: 14739LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $561804.00    | 0.02%             | 2026-01-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| CASCADES INC/USA INC                                | CASCADES INC/USA INC COMPANY GUAR 144A 01/28 5.375          | CUSIP: 14739LAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $560220.00    | 0.02%             | 2028-01-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| CASTLELAKE AVIATION FIN                             | CASTLELAKE AVIATION FIN SR UNSECURED 144A 04/27 5           | CUSIP: 14856HAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   1340000 | PA      | $1227466.80   | 0.05%             | 2027-04-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: —       |
| CDK GLOBAL INC.                                     | CDK GLOBAL, INC. 2022 USD TERM LOAN B                       | CUSIP: 15477BAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    300000 | PA      | $299766.00    | 0.01%             | 2029-07-06      | Floating      | 9.31%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                              | LUMEN TECHNOLOGIES INC SR UNSECURED 09/39 7.6               | CUSIP: 156700AM8<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |   1886000 | PA      | $1276727.70   | 0.06%             | 2039-09-15      | Fixed         | 7.60%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                              | LUMEN TECHNOLOGIES INC SR UNSECURED 144A 01/29 4.5          | CUSIP: 156700BD7<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    596000 | PA      | $401096.08    | 0.02%             | 2029-01-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| CHAMPIONX CORPORATION                               | CHAMPIONX CORPORATION TERM LOAN B 1                         | CUSIP: 15872NAC6<br>LEI: 549300EP2909K6DYYP38 | Long             | LON              | CORP              | US        |   1481288 | PA      | $1483835.31   | 0.07%             | 2029-06-07      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| CHART INDUSTRIES INC                                | CHART INDUSTRIES INC SR SUBORDINA 11/24 1                   | CUSIP: N/A<br>LEI: EM7QGKC1GYOF3LSZSL80       | Long             | DBT              | CORP              | US        |   1015000 | PA      | $2313296.65   | 0.10%             | 2024-11-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                         | CHEMOURS CO COMPANY GUAR 144A 11/29 4.625                   | CUSIP: 163851AH1<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |    895000 | PA      | $748309.50    | 0.03%             | 2029-11-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| CHENIERE ENERGY INC                                 | CHENIERE ENERGY INC SR UNSECURED 10/28 4.625                | CUSIP: 16411RAK5<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | DBT              | CORP              | US        |    591000 | PA      | $563678.07    | 0.03%             | 2028-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| MULTIPLAN CORP                                      | MULTIPLAN CORP SR UNSECURED 144A 10/27 6                    | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |    590000 | PA      | $386066.50    | 0.02%             | 2027-10-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                              | ALBERTSONS COS/SAFEWAY COMPANY GUAR 144A 01/27 4.625        | CUSIP: 013092AC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1925000 | PA      | $1831714.50   | 0.08%             | 2027-01-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| CINC BELL TEL                                       | CINC BELL TEL SR SECURED 12/28 6.3                          | CUSIP: 171875AD9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    890000 | PA      | $801747.60    | 0.04%             | 2028-12-01      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                       | CITIGROUP INC JR SUBORDINA 12/99 VAR                        | CUSIP: 172967MU2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    150000 | PA      | $140143.50    | 0.01%             | 2063-01-31      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                       | CITIGROUP INC JR SUBORDINA 12/99 VAR                        | CUSIP: 172967MV0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    509000 | PA      | $465811.35    | 0.02%             | 2063-01-31      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                       | CITIGROUP INC JR SUBORDINA 12/99 VAR                        | CUSIP: 172967NB3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    546000 | PA      | $488620.86    | 0.02%             | 2063-01-31      | Variable      | 4.15%                 | No            |                  2 | On Loan: No      |
| CITIZENS FINANCIAL GROUP                            | CITIZENS FINANCIAL GROUP JR SUBORDINA 12/99 VAR             | CUSIP: 174610BD6<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |    450000 | PA      | $393070.50    | 0.02%             | 2063-01-31      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HOLDINGS INC.                 | CLEAR CHANNEL OUTDOOR HLDNGS I TERM LOAN B                  | CUSIP: 18452RAD7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1523812 | PA      | $1453336.17   | 0.06%             | 2026-08-21      | Floating      | 8.27%                 | No            |                  2 | On Loan: No      |
| CLEARWATER PAPER CORP                               | CLEARWATER PAPER CORP COMPANY GUAR 144A 08/28 4.75          | CUSIP: 18538RAJ2<br>LEI: 549300HCVV19GXN4P292 | Long             | DBT              | CORP              | US        |   1880000 | PA      | $1682675.20   | 0.07%             | 2028-08-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| COMMERCIAL METALS CO                                | COMMERCIAL METALS CO SR UNSECURED 01/30 4.125               | CUSIP: 201723AQ6<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |    596000 | PA      | $535267.60    | 0.02%             | 2030-01-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                                  | FORD MOTOR COMPANY PREFERRED STOCK 08/62 6.5                | CUSIP: 345370811<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      2764 | NS      | $67358.68     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| INTUIT INC                                          | INTUIT INC COMMON STOCK USD.01                              | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |     10330 | NS      | $4366181.10   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| FORESTAR GROUP INC                                  | FORESTAR GROUP INC COMPANY GUAR 144A 05/26 3.85             | CUSIP: 346232AF8<br>LEI: 549300BC2UB0GHV60V70 | Long             | DBT              | CORP              | US        |    630000 | PA      | $565330.50    | 0.03%             | 2026-05-15      | Fixed         | 3.85%                 | Yes           |                  2 | On Loan: No      |
| KKR & CO INC                                        | KKR + CO INC PREFERRED STOCK 09/23 6                        | CUSIP: N/A<br>LEI: 549300JOHU21WRN2Z451       | Long             | EP               | CORP              | US        |    191800 | NS      | $12958008.00  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| KEYCORP                                             | KEYCORP PREFERRED STOCK VAR                                 | CUSIP: 493267843<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      5542 | NS      | $142041.46    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| LAM RESEARCH CORP                                   | LAM RESEARCH CORP COMMON STOCK USD.001                      | CUSIP: 512807108<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |     16960 | NS      | $8481696.00   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| ORANGE SA                                           | ORANGE COMMON STOCK EUR4.0                                  | CUSIP: N/A<br>LEI: 969500MCOONR8990S771       | Long             | EC               | CORP              | FR        |    205085 | NS      | $2170363.41   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                                | LAS VEGAS SANDS CORP COMMON STOCK USD.001                   | CUSIP: 517834107<br>LEI: 549300DUOO1KXOHPM605 | Long             | EC               | CORP              | US        |    294980 | NS      | $17403820.00  | 0.77%             |  |  |  | No            |                  1 | On Loan: —       |
| ESTEE LAUDER COS INC/THE                            | ESTEE LAUDER COMPANIES CL A COMMON STOCK USD.01             | CUSIP: 518439104<br>LEI: 549300VFZ8XJ9NUPU221 | Long             | EC               | CORP              | US        |     36265 | NS      | $10048306.20  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| ELI LILLY & CO                                      | ELI LILLY + CO COMMON STOCK                                 | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |    105650 | NS      | $36359447.50  | 1.61%             |  |  |  | No            |                  1 | On Loan: —       |
| MACY'S RETAIL HLDGS LLC                             | MACY S RETAIL HLDGS LLC COMPANY GUAR 144A 03/30 5.875       | CUSIP: 55617LAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    744000 | PA      | $681511.44    | 0.03%             | 2030-03-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| MAGELLAN MIDSTREAM PARTNERS LP                      | MAGELLAN MIDSTREAM PARTNERS MLP                             | CUSIP: 559080106<br>LEI: MZF5TI8NFVZZNUSKDL39 | Long             | EC               | CORP              | US        |     15860 | NS      | $846924.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| MAGNOLIA OIL GAS/MAG FIN                            | MAGNOLIA OIL GAS/MAG FIN COMPANY GUAR 144A 08/26 6          | CUSIP: 559665AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1162000 | PA      | $1125675.88   | 0.05%             | 2026-08-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| MALLINCKRODT FIN/SB                                 | MALLINCKRODT FIN/SB SECURED 144A 06/29 10                   | CUSIP: 561233AK3<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    488000 | PA      | $280595.12    | 0.01%             | 2029-06-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| MARKEL CORP                                         | MARKEL CORP JR SUBORDINA 12/99 VAR                          | CUSIP: 570535AW4<br>LEI: 549300SCNO12JLWIK605 | Long             | DBT              | CORP              | US        |    280000 | PA      | $278840.80    | 0.01%             | 2063-01-31      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| MARRIOTT VACATION WORLDW                            | MARRIOTT VACATION WORLDW COMPANY GUAR 01/26 0.00000         | CUSIP: N/A<br>LEI: 549300WA6BT5H4F7IO94       | Long             | DBT              | CORP              | US        |   7670000 | PA      | $8288662.20   | 0.37%             | 2026-01-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MASTEC INC                                          | MASTEC INC COMPANY GUAR 144A 08/28 4.5                      | CUSIP: 576323AP4<br>LEI: 549300TMDIT8WREDOF45 | Long             | DBT              | CORP              | US        |    598000 | PA      | $554710.78    | 0.02%             | 2028-08-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                              | MATCH GROUP HLD II LLC SR UNSECURED 144A 10/31 3.625        | CUSIP: 57667JAA0<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |    596000 | PA      | $478886.00    | 0.02%             | 2031-10-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| MCDONALD'S CORP                                     | MCDONALD S CORP COMMON STOCK USD.01                         | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |     62500 | NS      | $16712500.00  | 0.74%             |  |  |  | No            |                  1 | On Loan: —       |
| MCLAREN FINANCE PLC                                 | MCLAREN FINANCE PLC SR SECURED 144A 08/26 7.5               | CUSIP: 58175LAA8<br>LEI: 213800BKPDWMWX3GSG36 | Long             | DBT              | CORP              | GB        |   1375000 | PA      | $1041480.00   | 0.05%             | 2026-08-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| MERCER INTL INC                                     | MERCER INTL INC SR UNSECURED 02/29 5.125                    | CUSIP: 588056BB6<br>LEI: 549300Z5IAG39VRTY874 | Long             | DBT              | CORP              | US        |   1257000 | PA      | $1076771.34   | 0.05%             | 2029-02-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| MERCK & CO INC                                      | MERCK + CO. INC. COMMON STOCK USD.5                         | CUSIP: 58933Y105<br>LEI: MZK1AT00SJV4XB7WNL71 | Long             | EC               | CORP              | US        |    219485 | NS      | $23574883.85  | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| METLIFE INC                                         | METLIFE INC JR SUBORDINA 12/66 6.4                          | CUSIP: 59156RAP3<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |   2990000 | PA      | $3065407.80   | 0.14%             | 2036-12-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| METLIFE INC                                         | METLIFE INC JR SUBORDINA 12/99 VAR                          | CUSIP: 59156RCA4<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |    225000 | PA      | $214969.50    | 0.01%             | 2063-01-31      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| MICROSOFT CORP                                      | MICROSOFT CORP COMMON STOCK USD.00000625                    | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |    574150 | NS      | $142280111.50 | 6.31%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROCHIP TECHNOLOGY INC                            | MICROCHIP TECHNOLOGY INC SR SUBORDINA 11/24 0.125           | CUSIP: N/A<br>LEI: 5493007PTFULNYZJ1R12       | Long             | DBT              | CORP              | US        |  13000000 | PA      | $14438840.00  | 0.64%             | 2024-11-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| MICRON TECHNOLOGY INC                               | MICRON TECHNOLOGY INC COMMON STOCK USD.1                    | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |     95780 | NS      | $5775534.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| MIDAS OPCO HOLDINGS LLC                             | MIDAS OPCO HOLDINGS LLC COMPANY GUAR 144A 08/29 5.625       | CUSIP: 59565JAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1045000 | PA      | $917029.30    | 0.04%             | 2029-08-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| MIDDLEBY CORP                                       | MIDDLEBY CORP SR UNSECURED 09/25 1                          | CUSIP: N/A<br>LEI: JDFO86U9VQRBKW5KYA35       | Long             | DBT              | CORP              | US        |  11905000 | PA      | $15561977.90  | 0.69%             | 2025-09-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| MIDWEST GMNG BOR/MWG FIN                            | MIDWEST GMNG BOR/MWG FIN SR SECURED 144A 05/29 4.875        | CUSIP: 59833DAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1518000 | PA      | $1344113.10   | 0.06%             | 2029-05-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| MILEAGE PLUS HOLDINGS LLC                           | MILEAGE PLUS HOLDINGS LLC 2020 TERM LOAN B                  | CUSIP: 59921PAB2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1098000 | PA      | $1146657.87   | 0.05%             | 2027-06-20      | Floating      | 10.10%                | No            |                  2 | On Loan: No      |
| MOHEGAN TRIBAL GAMING AU                            | MOHEGAN TRIBAL GAMING AU SECURED 144A 02/26 8               | CUSIP: 608328BH2<br>LEI: 549300UB083Z2NRDHC48 | Long             | DBT              | CORP              | US        |   1649000 | PA      | $1563878.62   | 0.07%             | 2026-02-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| MONDELEZ INTERNATIONAL INC                          | MONDELEZ INTERNATIONAL INC A COMMON STOCK                   | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |    250885 | NS      | $16417914.40  | 0.73%             |  |  |  | No            |                  1 | On Loan: —       |
| MONSTER BEVERAGE CORP                               | MONSTER BEVERAGE CORP COMMON STOCK                          | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Long             | EC               | CORP              | US        |     74555 | NS      | $7759684.40   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| MOOG INC                                            | MOOG INC COMPANY GUAR 144A 12/27 4.25                       | CUSIP: 615394AM5<br>LEI: 549300WM2I4U7OBAHG07 | Long             | DBT              | CORP              | US        |    722000 | PA      | $670261.48    | 0.03%             | 2027-12-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| MORGAN STANLEY                                      | MORGAN STANLEY COMMON STOCK USD.01                          | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |    247340 | NS      | $24073602.20  | 1.07%             |  |  |  | No            |                  1 | On Loan: —       |
| MORGAN STANLEY                                      | MORGAN STANLEY PREFFERD STOCK                               | CUSIP: 61762V853<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      4400 | NS      | $114576.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                                      | MORGAN STANLEY PREFERRED STOCK 4.25                         | CUSIP: 61762V861<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |      2195 | NS      | $43768.30     | 0.00%             |  |  |  | No            |                  1 | On Loan: —       |
| MORGAN STANLEY FIN LLC                              | MORGAN STANLEY FIN LLC 11/27 1                              | CUSIP: N/A<br>LEI: 5493003FCPSE9RKT4B56       | Long             | DBT              | CORP              | US        |  11275000 | PA      | $11909218.75  | 0.53%             | 2027-11-23      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| MOSS CREEK RESOURCES HLD                            | MOSS CREEK RESOURCES HLD COMPANY GUAR 144A 01/26 7.5        | CUSIP: 61965RAA3<br>LEI: 54930037SLMSPWKYIX36 | Long             | DBT              | CORP              | US        |    540000 | PA      | $499354.20    | 0.02%             | 2026-01-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| MOSS CREEK RESOURCES HLD                            | MOSS CREEK RESOURCES HLD COMPANY GUAR 144A 05/27 10.5       | CUSIP: 61965RAB1<br>LEI: 54930037SLMSPWKYIX36 | Long             | DBT              | CORP              | US        |    600000 | PA      | $583488.00    | 0.03%             | 2027-05-15      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                 | MEDLINE BORROWER LP SR SECURED 144A 04/29 3.875             | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   1480000 | PA      | $1267649.60   | 0.06%             | 2029-04-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                 | MEDLINE BORROWER LP SR UNSECURED 144A 10/29 5.25            | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   1484000 | PA      | $1247287.16   | 0.06%             | 2029-10-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: —       |
| MUNICH RE                                           | MUNICH RE SUBORDINATED 144A 05/42 VAR                       | CUSIP: 62582PAA8<br>LEI: 529900MUF4C20K50JS49 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $204748.00    | 0.01%             | 2042-05-23      | Variable      | 5.88%                 | Yes           |                  2 | On Loan: No      |
| NCR CORP                                            | NCR CORP COMPANY GUAR 144A 04/29 5.125                      | CUSIP: 62886EBA5<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |    589000 | PA      | $513024.89    | 0.02%             | 2029-04-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| NABORS INDUSTRIES INC                               | NABORS INDUSTRIES INC COMPANY GUAR 144A 05/27 7.375         | CUSIP: 62957HAJ4<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |    600000 | PA      | $601254.00    | 0.03%             | 2027-05-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| NATIONWIDE FINANCIAL SER                            | NATIONWIDE FINANCIAL SER JR SUBORDINA 05/87 6.75            | CUSIP: 638612AJ0<br>LEI: 5493001H7AZNDS6BKJ36 | Long             | DBT              | CORP              | US        |    120000 | PA      | $119689.20    | 0.01%             | 2037-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                              | NATIONSTAR MTG HLD INC COMPANY GUAR 144A 08/28 5.5          | CUSIP: 63861CAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1615000 | PA      | $1412737.40   | 0.06%             | 2028-08-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| NAVIENT CORP                                        | NAVIENT CORP SR UNSECURED 03/27 5                           | CUSIP: 63938CAK4<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |   2555000 | PA      | $2335755.45   | 0.10%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                                        | NAVIENT CORP SR UNSECURED 03/28 4.875                       | CUSIP: 63938CAL2<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |   1355000 | PA      | $1200462.25   | 0.05%             | 2028-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| NETFLIX INC                                         | NETFLIX INC COMMON STOCK USD.001                            | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |     32360 | NS      | $11450909.60  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| NETFLIX INC                                         | NETFLIX INC SR UNSECURED 144A 06/30 4.875                   | CUSIP: 64110LAV8<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |    910000 | PA      | $902046.60    | 0.04%             | 2030-06-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| NEXTERA ENERGY INC                                  | NEXTERA ENERGY INC PREFERRED STOCK 09/25 6.926              | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    262050 | NS      | $12565297.50  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY INC                                  | NEXTERA ENERGY INC PREFERRED STOCK 09/23 6.219              | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     94060 | NS      | $4504533.40   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| NIKE INC                                            | NIKE INC  CL B COMMON STOCK                                 | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |    162800 | NS      | $20729324.00  | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| NOKIA OYJ                                           | NOKIA CORP SPON ADR ADR NPV                                 | CUSIP: 654902204<br>LEI: 549300A0JPRWG1KI7U06 | Long             | EC               | CORP              | FI        |   1520000 | NS      | $7235200.00   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| NORTHERN TRUST CORP                                 | NORTHERN TRUST CORP COMMON STOCK USD1.666666                | CUSIP: 665859104<br>LEI: 549300GLF98S992BC502 | Long             | EC               | CORP              | US        |     43760 | NS      | $4243407.20   | 0.19%             |  |  |  | No            |                  1 | On Loan: —       |
| NORTHROP GRUMMAN CORP                               | NORTHROP GRUMMAN CORP COMMON STOCK USD1.0                   | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |     28435 | NS      | $12740017.40  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVA LTD                                            | NOVA LTD SR UNSECURED 10/25 0.00000                         | CUSIP: N/A<br>LEI: 529900B2DSWE5V3SC292       | Long             | DBT              | CORP              | IL        |   2735000 | PA      | $3604538.55   | 0.16%             | 2025-10-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                        | NOVELIS CORP COMPANY GUAR 144A 01/30 4.75                   | CUSIP: 670001AE6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |   1140000 | PA      | $1043248.20   | 0.05%             | 2030-01-30      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| NUCOR CORP                                          | NUCOR CORP COMMON STOCK USD.4                               | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | EC               | CORP              | US        |     41000 | NS      | $6929820.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| NUSTAR ENERGY LP                                    | NUSTAR ENERGY LP PREFERRED STOCK VAR                        | CUSIP: 67058H300<br>LEI: 5493003BMLTUIEG2LG44 | Long             | EP               | CORP              | US        |     52665 | NS      | $1223934.60   | 0.05%             | 2063-02-28      | Variable      | 10.56%                | No            |                  1 | On Loan: No      |
| OI EUROPEAN GROUP BV                                | OI EUROPEAN GROUP BV COMPANY GUAR 144A 02/30 4.75           | CUSIP: 67777LAD5<br>LEI: 72450053F5WRDY8CDZ66 | Long             | DBT              | CORP              | NL        |    450000 | PA      | $404950.50    | 0.02%             | 2030-02-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| ON SEMICONDUCTOR CORP                               | ON SEMICONDUCTOR CORP COMPANY GUAR 144A 09/28 3.875         | CUSIP: 682189AQ8<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | DBT              | CORP              | US        |    886000 | PA      | $809130.64    | 0.04%             | 2028-09-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| ON SEMICONDUCTOR CORP                               | ON SEMICONDUCTOR CORP SR UNSECURED 05/27 0.00000            | CUSIP: N/A<br>LEI: ZV20P4CNJVT8V1ZGJ064       | Long             | DBT              | CORP              | US        |  11555000 | PA      | $17332500.00  | 0.77%             | 2027-05-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| 1375209 BC LTD                                      | 1375209 BC LTD SR SECURED 144A 01/28 9                      | CUSIP: 68251PAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1335000 | PA      | $1331475.60   | 0.06%             | 2028-01-30      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                | ONEMAIN FINANCE CORP COMPANY GUAR 09/28 3.875               | CUSIP: 682691AC4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    820000 | PA      | $691752.00    | 0.03%             | 2028-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP                                      | OPEN TEXT CORP COMPANY GUAR 144A 02/28 3.875                | CUSIP: 683715AC0<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |    855000 | PA      | $744012.45    | 0.03%             | 2028-02-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| OPEN TEXT CORP                                      | OPEN TEXT CORP COMPANY GUAR 144A 12/29 3.875                | CUSIP: 683715AD8<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |    447000 | PA      | $372601.32    | 0.02%             | 2029-12-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| OPEN TEXT CORP                                      | OPEN TEXT CORP SR SECURED 144A 12/27 6.9                    | CUSIP: 683715AF3<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    600000 | PA      | $615360.00    | 0.03%             | 2027-12-01      | Fixed         | 6.90%                 | Yes           |                  2 | On Loan: No      |
| OPEN TEXT HOLDINGS INC                              | OPEN TEXT HOLDINGS INC COMPANY GUAR 144A 12/31 4.125        | CUSIP: 683720AC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    447000 | PA      | $363804.36    | 0.02%             | 2031-12-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| ORGANON & CO/ORG                                    | ORGANON + CO/ORG SR SECURED 144A 04/28 4.125                | CUSIP: 68622TAA9<br>LEI: 549300SH15FO4Y2G3V63 | Long             | DBT              | CORP              | US        |    500000 | PA      | $454440.00    | 0.02%             | 2028-04-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| ORGANON & CO/ORG                                    | ORGANON + CO/ORG SR UNSECURED 144A 04/31 5.125              | CUSIP: 68622TAB7<br>LEI: 549300SH15FO4Y2G3V63 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $1984202.00   | 0.09%             | 2031-04-30      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| OSCAR ACQUISITIONCO LLC                             | OSCAR ACQUISITIONCO, LLC TERM LOAN B                        | CUSIP: 68778DAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1271812 | PA      | $1235069.84   | 0.05%             | 2029-04-29      | Floating      | 9.22%                 | No            |                  2 | On Loan: No      |
| PPL CAPITAL FUNDING INC                             | PPL CAPITAL FUNDING INC COMPANY GUAR 03/67 VAR              | CUSIP: 69352PAC7<br>LEI: 549300MROK5WY0D2NU17 | Long             | DBT              | CORP              | US        |    516000 | PA      | $454327.68    | 0.02%             | 2067-03-30      | Variable      | 7.39%                 | No            |                  2 | On Loan: No      |
| PHH MORTGAGE CORP                                   | PHH MORTGAGE CORP SR SECURED 144A 03/26 7.875               | CUSIP: 69356NAA2<br>LEI: PAOOWF3GUFM46FBSP561 | Long             | DBT              | CORP              | US        |   1871000 | PA      | $1712881.79   | 0.08%             | 2026-03-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| SILICON LABORATORIES INC                            | SILICON LABORATORIES INC SR UNSECURED 06/25 0.625           | CUSIP: N/A<br>LEI: 4PRDF8Q9TDHRVZKZSZ47       | Long             | DBT              | CORP              | US        |   3524000 | PA      | $4849658.32   | 0.22%             | 2025-06-15      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| TYLER TECHNOLOGIES INC                              | TYLER TECHNOLOGIES INC SR UNSECURED 03/26 0.25              | CUSIP: N/A<br>LEI: 25490040SMU4Z8LBCW70       | Long             | DBT              | CORP              | US        |   5850000 | PA      | $5561127.00   | 0.25%             | 2026-03-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                        | UBS GROUP AG JR SUBORDINA 144A 12/99 VAR                    | CUSIP: 90352JAF0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $199566.00    | 0.01%             | 2063-01-31      | Variable      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| DATADOG INC                                         | DATADOG INC SR UNSECURED 06/25 0.125                        | CUSIP: N/A<br>LEI: 549300F6JNO0KRPO1K63       | Long             | DBT              | CORP              | US        |   2015000 | PA      | $2210737.10   | 0.10%             | 2025-06-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-31

**Name of Applicant:** Calamos Strategic Total Return Fund

**Signature:** Stephen Atkins

**Name of Signer:** Stephen Atkins

**Title:** Treasurer