# EDGAR Filing Document

**Accession Number:** 0000811030
**File Stem:** 0000894189-25-014353
**Filing Date:** 2025-11
**Character Count:** 73259
**Document Hash:** 8b0b36d819a66d69dea3d8c3cfa8aafe
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-014353.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0000894189-25-014353

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251124

**DATE AS OF CHANGE**: 20251124

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PROFESSIONALLY MANAGED PORTFOLIOS
- **CENTRAL INDEX KEY:** 0000811030

**ORGANIZATION NAME:**
- **EIN:** 566415270
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05037
- **FILM NUMBER:** 251511925

**BUSINESS ADDRESS:**
- **STREET 1:** 615 EAST MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 414-218-3770

**MAIL ADDRESS:**
- **STREET 1:** 615 EAST MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AVONDALE INVESTMENT TRUST
- **DATE OF NAME CHANGE:** 19910529

## Series and Classes Contracts Data

### Osterweis Strategic Income Fund (Series ID: S000004930)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000013345 | Investor Class | OSTIX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Professionally Managed Portfolios

- **b. Investment Company Act file number:** 811-05037

- **c. CIK number of Registrant:** 0000811030

- **d. LEI of Registrant:** 254900BPISCYGRJD2727

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

  - **Street Address 1:** 615 East Michigan Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

  - **Telephone number:** 414-516-1523

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

- **a. Name of Series:** The Osterweis Strategic Income Fund

- **b. EDGAR series identifier (if any):** S000004930

- **c. LEI of Series:** 254900OHRJ0G14ZYDJ44

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

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

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $5919214131.63

**Total Liabilities:** $63811519.86

**Net Assets:** $5855402611.77

**Delayed Delivery Securities:** $58881250.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 11212.323004000000 | **1-Year:** 3195.017901000000 | **5-Year:** 3070.447540000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

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

- **3-Month:** 333148.047093000000 | **1-Year:** 228826.282854000000 | **5-Year:** 99607.111963000000 | **10-Year:** 1044.506857000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000013345 | 0.09%                | 0.90%                | 0.42%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-3529017.87             | $-15442531.34                              |
| Month 2  | $-5608927.48             | $29895416.51                               |
| Month 3  | $2406527.11              | $-392148.43                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AMERICAN AXLE & MFG INC        | American Axle & Manufacturing Inc                                              | CUSIP: 02406PBD1<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |  29000000 | PA      | $29233379.53  | 0.50%             | 2033-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                  | Carnival Corp                                                                  | CUSIP: 143658BR2<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |  19750000 | PA      | $20042735.49  | 0.34%             | 2029-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ETSY INC                       | Etsy Inc                                                                       | CUSIP: 29786AAN6<br>LEI: 54930089Q7XT501AEA40 | Long             | DBT              | CORP              | US        |   7750000 | PA      | $6864562.50   | 0.12%             | 2028-06-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| FIRSTCASH INC                  | FirstCash Inc                                                                  | CUSIP: 33767DAD7<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |  24500000 | PA      | $25353261.50  | 0.43%             | 2032-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| FIVERR INTERNATIONAL LTD       | Fiverr International Ltd                                                       | CUSIP: 33835LAA3<br>LEI: 549300Z8OREY6THCPF67 | Long             | DBT              | CORP              | IL        |  58500000 | PA      | $58511700.00  | 1.00%             | 2025-11-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC        | Goldman Sachs Group Inc/The                                                    | CUSIP: 38141GVR2<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |  50000000 | PA      | $50000778.50  | 0.85%             | 2025-10-21      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ADAMS HOMES INC                | Adams Homes Inc                                                                | CUSIP: 00623PAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  40389000 | PA      | $42282234.38  | 0.72%             | 2028-10-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| AIRBNB INC                     | Airbnb Inc                                                                     | CUSIP: 009066AB7<br>LEI: 549300HMUDNO0RY56D37 | Long             | DBT              | CORP              | US        |  70000000 | PA      | $68600000.00  | 1.17%             | 2026-03-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CARRIAGE SERVICES INC          | Carriage Services Inc                                                          | CUSIP: 143905AP2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7800000 | PA      | $7395935.82   | 0.13%             | 2029-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| DELUXE CORP                    | Deluxe Corp                                                                    | CUSIP: 248019AU5<br>LEI: KWGNKB8TX9LE5TV29231 | Long             | DBT              | CORP              | US        |  33721000 | PA      | $33676536.84  | 0.58%             | 2029-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| DEXCOM INC                     | Dexcom Inc                                                                     | CUSIP: 252131AK3<br>LEI: 549300YSK3QDSFR5EU59 | Long             | DBT              | CORP              | US        |  54000000 | PA      | $53635500.00  | 0.92%             | 2025-11-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| ENOVA INTERNATIONAL INC        | Enova International Inc                                                        | CUSIP: 29357KAK9<br>LEI: 549300O8XOCQSB49UO63 | Long             | DBT              | CORP              | US        |  43950000 | PA      | $46300334.81  | 0.79%             | 2029-08-01      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| GENUINE PARTS CO               | Genuine Parts Co                                                               | CUSIP: 37255FX96<br>LEI: 549300D46DQVEU651W04 | Long             | STIV             | CORP              | US        |  50000000 | PA      | $49946650.00  | 0.85%             | 2025-10-09      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| GRIFFON CORPORATION            | Griffon Corp                                                                   | CUSIP: 398433AP7<br>LEI: 5493000C2SGNC7ZN3242 | Long             | DBT              | CORP              | US        |  60288000 | PA      | $60333794.76  | 1.03%             | 2028-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MATTAMY GROUP CORP             | Mattamy Group Corp                                                             | CUSIP: 57701RAJ1<br>LEI: 5493008TNY7A82WCXU31 | Long             | DBT              | CORP              | CA        |  56529000 | PA      | $56212946.36  | 0.96%             | 2027-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NCR VOYIX CORP                 | NCR Voyix Corp                                                                 | CUSIP: 62886EAY4<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |   3825000 | PA      | $3781417.19   | 0.06%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PERENTI FINANCE PTY LTD        | Perenti Finance Pty Ltd                                                        | CUSIP: 71367VAB5<br>LEI: 894500ZDIIAOXSQHE612 | Long             | DBT              | CORP              | AU        |  12000000 | PA      | $12562085.88  | 0.21%             | 2029-04-26      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| TUTOR PERINI CORP              | Tutor Perini Corp                                                              | CUSIP: 901109AG3<br>LEI: 549300FHXYVPW8LJ6D98 | Long             | DBT              | CORP              | US        |  24500000 | PA      | $27408738.00  | 0.47%             | 2029-04-30      | Fixed         | 11.88%                | No            |                  2 | On Loan: No      |
| UNITED NATURAL FOODS INC       | United Natural Foods Inc                                                       | CUSIP: 911163AA1<br>LEI: 549300GKGW6WPZ282D40 | Long             | DBT              | CORP              | US        |  67549000 | PA      | $67681173.13  | 1.16%             | 2028-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VAIL RESORTS INC               | Vail Resorts Inc                                                               | CUSIP: 91879QAN9<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |  31704000 | PA      | $31339404.00  | 0.54%             | 2026-01-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC         | WESCO Distribution Inc                                                         | CUSIP: 95081QAP9<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |  62308000 | PA      | $63171152.72  | 1.08%             | 2028-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| XEROX HOLDINGS CORP            | Xerox Holdings Corp                                                            | CUSIP: 98421MAC0<br>LEI: 5493000Y33XDVO2CXC18 | Long             | DBT              | CORP              | US        |  28000000 | PA      | $15267036.68  | 0.26%             | 2029-11-30      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| HAT HOLDINGS I LLC/HAT         | HAT Holdings I LLC / HAT Holdings II LLC                                       | CUSIP: 418751AE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  65841000 | PA      | $65178160.88  | 1.11%             | 2026-06-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP FINANCECO 2        | Match Group Financeco 2 Inc                                                    | CUSIP: 44932FAA5<br>LEI: 549300IPGK4BWL134U96 | Long             | DBT              | CORP              | US        |  42250000 | PA      | $41139157.51  | 0.70%             | 2026-06-15      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| INEOS QUATTRO FINANCE 2        | INEOS Quattro Finance 2 Plc                                                    | CUSIP: 45674GAB0<br>LEI: 213800V48W4Y5MT5Q131 | Long             | DBT              | CORP              | GB        |  17500000 | PA      | $17338632.15  | 0.30%             | 2029-03-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| KEHE DIST/FIN / NEXTWAVE       | KeHE Distributors LLC / KeHE Finance Corp / NextWave Distribution Inc          | CUSIP: 487526AC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  62250000 | PA      | $65573652.00  | 1.12%             | 2029-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| MSILF Treasury Securities Port | MSILF Treasury Securities Portfolio                                            | CUSIP: 61747C525<br>LEI: 549300OJY9IZ31SGS926 | Long             | STIV             | RF                | US        | 164921648 | NS      | $164921647.82 | 2.82%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTERN DIGITAL CORP           | Western Digital Corp                                                           | CUSIP: 958102AM7<br>LEI: 549300QQXOOYEF89IC56 | Long             | DBT              | CORP              | US        |  13029000 | PA      | $13036438.26  | 0.22%             | 2026-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| API GROUP DE INC               | APi Group DE Inc                                                               | CUSIP: 001877AA7<br>LEI: 549300XP4G7B4QYA0G83 | Long             | DBT              | CORP              | US        |  26650000 | PA      | $25777753.50  | 0.44%             | 2029-07-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN       | American Airlines Inc/AAdvantage Loyalty IP Ltd                                | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  52404250 | PA      | $52457702.34  | 0.90%             | 2026-04-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE MORTGAGE TR         | Blackstone Mortgage Trust Inc                                                  | CUSIP: 09257WAF7<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | DBT              | CORP              | US        |  26000000 | PA      | $27451970.00  | 0.47%             | 2029-12-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD RENEWABLE PART      | BROOKFIELD RENEWABLE PART                                                      | CUSIP: 11284WXF5<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |  50000000 | PA      | $49911025.00  | 0.85%             | 2025-10-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CPI CG INC                     | CPI CG Inc                                                                     | CUSIP: 12598FAC3<br>LEI: 254900H3R50WH1B1LB48 | Long             | DBT              | CORP              | US        |  29196000 | PA      | $30636676.33  | 0.52%             | 2029-07-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CABLE ONE INC                  | Cable One Inc                                                                  | CUSIP: 12685JAE5<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |  69305000 | PA      | $67676656.15  | 1.16%             | 2026-03-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CACI INTERNATIONAL INC         | CACI International Inc                                                         | CUSIP: 127190AE6<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4649667.71   | 0.08%             | 2033-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CHAMPION IRON CANADA INC       | Champion Iron Canada Inc                                                       | CUSIP: 15853BAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |  51750000 | PA      | $54141160.50  | 0.92%             | 2032-07-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED ENERGY FIN        | Consolidated Energy Finance SA                                                 | CUSIP: 20914UAE6<br>LEI: 549300PUNIS0USNSL750 | Long             | DBT              | CORP              | LU        |   7050000 | PA      | $6867359.18   | 0.12%             | 2026-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED ENERGY FIN        | Consolidated Energy Finance SA                                                 | CUSIP: 20914UAF3<br>LEI: 549300PUNIS0USNSL750 | Long             | DBT              | CORP              | LU        |  31700000 | PA      | $26564327.38  | 0.45%             | 2028-10-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CROWN AMER/CAP CORP V          | Crown Americas LLC / Crown Americas Capital Corp V                             | CUSIP: 22819KAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13984000 | PA      | $13922484.38  | 0.24%             | 2026-09-30      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| DELUXE CORP                    | Deluxe Corp                                                                    | CUSIP: 248019AW1<br>LEI: KWGNKB8TX9LE5TV29231 | Long             | DBT              | CORP              | US        |  23450000 | PA      | $24527621.30  | 0.42%             | 2029-09-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC          | Directv Financing LLC / Directv Financing Co-Obligor Inc                       | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  22666000 | PA      | $22658830.97  | 0.39%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| DOLLARAMA INC.                 | Dollarama Inc                                                                  | CUSIP: 25675LXW9<br>LEI: 5493002GJ0NJP1HI0C79 | Long             | STIV             | CORP              | CA        |  50000000 | PA      | $49807500.00  | 0.85%             | 2025-10-30      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER         | Goodyear Tire & Rubber Co/The                                                  | CUSIP: 382550BS9<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |  36682000 | PA      | $37226654.34  | 0.64%             | 2030-07-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| INSTALLED BUILDING PRODU       | Installed Building Products Inc                                                | CUSIP: 45780RAA9<br>LEI: 549300I95Y9P9YM5FI86 | Long             | DBT              | CORP              | US        |   6750000 | PA      | $6744582.45   | 0.12%             | 2028-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| JBT MAREL CORP                 | JBT Marel Corp                                                                 | CUSIP: 477839AB0<br>LEI: 5493007CT6ATBZ2L6826 | Long             | DBT              | CORP              | US        |   9450000 | PA      | $9556785.00   | 0.16%             | 2026-05-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| SONIC AUTOMOTIVE INC           | Sonic Automotive Inc                                                           | CUSIP: 83545GBD3<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | DBT              | CORP              | US        |  34500000 | PA      | $33494345.70  | 0.57%             | 2029-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| STL HOLDING CO LLC             | STL Holding Co LLC                                                             | CUSIP: 861036AB7<br>LEI: 984500BC2I63E7F48656 | Long             | DBT              | CORP              | US        |   7750000 | PA      | $8148466.25   | 0.14%             | 2029-02-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL       | United Wholesale Mortgage LLC                                                  | CUSIP: 91153LAA5<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |  45580000 | PA      | $45593291.13  | 0.78%             | 2025-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL       | United Wholesale Mortgage LLC                                                  | CUSIP: 913229AA8<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |  20820000 | PA      | $20555113.39  | 0.35%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL       | United Wholesale Mortgage LLC                                                  | CUSIP: 913229AC4<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9999514.00   | 0.17%             | 2027-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD             | Viking Cruises Ltd                                                             | CUSIP: 92676XAD9<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |  29900000 | PA      | $29931215.60  | 0.51%             | 2027-09-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| K HOVNANIAN ENTERPRISES        | K Hovnanian Enterprises Inc                                                    | CUSIP: 48251UAP3<br>LEI: 549300JJCQ0KAI7CJG32 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3589431.06   | 0.06%             | 2031-04-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| MCCORMICK & COMPANY INC        | McCormick & Co Inc/MD                                                          | CUSIP: 57978CXA4<br>LEI: 549300JQQA6MQ4OJP259 | Long             | STIV             | CORP              | US        |  25000000 | PA      | $24970692.50  | 0.43%             | 2025-10-10      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW HOME CO INC/THE            | New Home Co Inc/The                                                            | CUSIP: 645370AF4<br>LEI: 549300PLCE8TB3TVRQ85 | Long             | DBT              | CORP              | US        |  52500000 | PA      | $55235775.00  | 0.94%             | 2029-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| REAL HERO MERGER SUB 2         | Real Hero Merger Sub 2 Inc                                                     | CUSIP: 75602BAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  16022000 | PA      | $10946046.31  | 0.19%             | 2029-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| UNISYS CORP                    | Unisys Corp                                                                    | CUSIP: 909214BX5<br>LEI: 549300T21W22FIJJOW08 | Long             | DBT              | CORP              | US        |  79000000 | PA      | $84237779.00  | 1.44%             | 2031-01-15      | Fixed         | 10.62%                | No            |                  2 | On Loan: No      |
| VISTRA CORP                    | Vistra Operations Co LLC                                                       | CUSIP: 92840VAA0<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |  63016000 | PA      | $63022053.32  | 1.08%             | 2026-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ADVANCED DRAINAGE SYSTEM       | Advanced Drainage Systems Inc                                                  | CUSIP: 00790RAA2<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | DBT              | CORP              | US        |  37338000 | PA      | $37250853.11  | 0.64%             | 2027-09-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ADIENT GLOBAL HOLDINGS         | Adient Global Holdings Ltd                                                     | CUSIP: 00687YAB1<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |  14650000 | PA      | $15038356.85  | 0.26%             | 2028-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC        | American Axle & Manufacturing Inc                                              | CUSIP: 02406PAU4<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |  21310000 | PA      | $21335401.52  | 0.36%             | 2027-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC        | American Axle & Manufacturing Inc                                              | CUSIP: 02406PBA7<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |  53595000 | PA      | $53824600.98  | 0.92%             | 2028-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ATLANTICUS HOLDINGS CORP       | Atlanticus Holdings Corp                                                       | CUSIP: 04914AAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  29500000 | PA      | $29131115.78  | 0.50%             | 2030-09-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| BELL CANADA                    | Bell Telephone Co of Canada or Bell Canada/The                                 | CUSIP: 07787PX11<br>LEI: 549300JYAVAQRV5MNZ86 | Long             | STIV             | CORP              | CA        |  50000000 | PA      | $49994175.00  | 0.85%             | 2025-10-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| BURFORD CAPITAL GLBL FIN       | Burford Capital Global Finance LLC                                             | CUSIP: 12116LAA7<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |  25489000 | PA      | $25555679.22  | 0.44%             | 2028-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| COTY INC                       | Coty Inc                                                                       | CUSIP: 222070AE4<br>LEI: 549300BO9IWPF3S48F93 | Long             | DBT              | CORP              | US        |  38503000 | PA      | $38437637.31  | 0.66%             | 2026-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ENPHASE ENERGY INC             | Enphase Energy Inc                                                             | CUSIP: 29355AAH0<br>LEI: 5493008U7KIGMI59Z314 | Long             | DBT              | CORP              | US        |   9500000 | PA      | $9286708.09   | 0.16%             | 2026-03-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| EZCORP INC                     | EZCORP Inc                                                                     | CUSIP: 302301AJ5<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | DBT              | CORP              | US        |  23500000 | PA      | $25097718.00  | 0.43%             | 2032-04-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| FIRSTCASH INC                  | FirstCash Inc                                                                  | CUSIP: 33767DAB1<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $14701047.00  | 0.25%             | 2028-09-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY             | Ford Motor Co                                                                  | CUSIP: 345370CX6<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   9000000 | PA      | $10509739.02  | 0.18%             | 2030-04-22      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY             | Ford Motor Co                                                                  | CUSIP: 345370CZ1<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   2900000 | PA      | $2946400.00   | 0.05%             | 2026-03-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN          | Genesis Energy LP / Genesis Energy Finance Corp                                | CUSIP: 37185LAL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  51550000 | PA      | $51955698.50  | 0.89%             | 2028-02-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| GLOBAL PART/GLP FINANCE        | Global Partners LP / GLP Finance Corp                                          | CUSIP: 37954FAL8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  18700000 | PA      | $19181674.60  | 0.33%             | 2033-07-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                    | Oracle Corp                                                                    | CUSIP: 6840C2YD1<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | STIV             | CORP              | US        |  25000000 | PA      | $24870587.50  | 0.42%             | 2025-11-13      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| OXFORD FIN LLC/CO-ISS II       | Oxford Finance LLC / Oxford Finance Co-Issuer II Inc                           | CUSIP: 69145LAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  47341000 | PA      | $47380293.03  | 0.81%             | 2027-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| PAGAYA US HOLDINGS CO          | Pagaya US Holdings Co LLC                                                      | CUSIP: 69549FAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  28000000 | PA      | $26201793.52  | 0.45%             | 2030-08-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| PEBBLEBROOK HOTEL TRUST        | Pebblebrook Hotel Trust                                                        | CUSIP: 70509VAA8<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | DBT              | CORP              | US        |   6400000 | PA      | $6323104.19   | 0.11%             | 2026-12-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING CO        | Penske Truck Leasing Co LP                                                     | CUSIP: 70962AXN1<br>LEI: 549300ZX07JYMI8GHQ39 | Long             | STIV             | CORP              | US        |  50000000 | PA      | $49865215.00  | 0.85%             | 2025-10-22      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| GLOBAL INFRASTRUCTURE SO       | Global Infrastructure Solutions Inc                                            | CUSIP: 37960XAA5<br>LEI: 2549003BGLQITAJ6ZT28 | Long             | DBT              | CORP              | US        |  51157000 | PA      | $50264658.22  | 0.86%             | 2029-06-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| HAEMONETICS CORP               | Haemonetics Corp                                                               | CUSIP: 405024AB6<br>LEI: 549300ZEL6TXZS6F5F95 | Long             | DBT              | CORP              | US        |  48320000 | PA      | $47474461.37  | 0.81%             | 2026-03-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| COEUR MINING INC               | Coeur Mining Inc                                                               | CUSIP: 192108BC1<br>LEI: 5493003AVK173D48DR70 | Long             | DBT              | CORP              | US        |  66150000 | PA      | $65198703.47  | 1.11%             | 2029-02-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| JAMF HOLDING CORP              | Jamf Holding Corp                                                              | CUSIP: 47074LAB1<br>LEI: 254900IHLXZU4Z5ANA12 | Long             | DBT              | CORP              | US        |  11600000 | PA      | $11159184.69  | 0.19%             | 2026-09-01      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| LIBERTY BROADBAND CORP         | Liberty Broadband Corp                                                         | CUSIP: 530307AE7<br>LEI: 549300MIX43II8JLN536 | Long             | DBT              | CORP              | US        |  60389000 | PA      | $59754915.50  | 1.02%             | 2053-03-31      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD            | NCL Corp Ltd                                                                   | CUSIP: 62886HBE0<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |  55490000 | PA      | $55673671.90  | 0.95%             | 2027-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN          | Icahn Enterprises LP / Icahn Enterprises Finance Corp                          | CUSIP: 451102BT3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6885000 | PA      | $6882214.33   | 0.12%             | 2026-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| KBR INC                        | KBR Inc                                                                        | CUSIP: 48242WAC0<br>LEI: 254900OFQDXZRKRCV808 | Long             | DBT              | CORP              | US        |  29780000 | PA      | $29478179.70  | 0.50%             | 2028-09-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MACQUARIE AIRFINANCE HLD       | Macquarie Airfinance Holdings Ltd                                              | CUSIP: 55609NAB4<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |   7000000 | PA      | $7288950.13   | 0.12%             | 2029-03-30      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| MANITOWOC COMPANY INC          | Manitowoc Co Inc/The                                                           | CUSIP: 563571AN8<br>LEI: 2RTSLGQ89VMY18RHX631 | Long             | DBT              | CORP              | US        |  34500000 | PA      | $36313665.00  | 0.62%             | 2031-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| NGL ENRGY OP/FIN CORP          | NGL Energy Operating LLC / NGL Energy Finance Corp                             | CUSIP: 62922LAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  37030000 | PA      | $37999445.40  | 0.65%             | 2029-02-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC         | Nationstar Mortgage Holdings Inc                                               | CUSIP: 63861CAE9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13000000 | PA      | $13179114.00  | 0.23%             | 2031-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| UPBOUND GROUP INC              | Upbound Group Inc                                                              | CUSIP: 76009NAL4<br>LEI: 529900QUHE15UQNCCJ63 | Long             | DBT              | CORP              | US        |  57600000 | PA      | $56923689.60  | 0.97%             | 2029-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES        | Royal Caribbean Cruises Ltd                                                    | CUSIP: 780153BJ0<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |  61302000 | PA      | $61567215.75  | 1.05%             | 2026-08-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SIMMONS FOOD INC/SIMMONS       | Simmons Foods Inc/Simmons Prepared Foods Inc/Simmons Pet Food Inc/Simmons Feed | CUSIP: 82873MAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  27438000 | PA      | $26341169.52  | 0.45%             | 2029-03-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| ADR TONGJIANG CO. ESCROW       | ADR TONGJIANG CO. ESCROW                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |  61582000 | NS      | $46248.08     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| UWM HOLDINGS LLC               | UWM Holdings LLC                                                               | CUSIP: 903522AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9750000 | PA      | $9710226.53   | 0.17%             | 2031-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| WAYFAIR INC                    | Wayfair Inc                                                                    | CUSIP: 94419LAM3<br>LEI: 54930027N9ZAVYFDHK53 | Long             | DBT              | CORP              | US        |  28079000 | PA      | $28059344.70  | 0.48%             | 2025-10-01      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| XEROX HOLDINGS CORP            | Xerox Holdings Corp                                                            | CUSIP: 98421MAB2<br>LEI: 5493000Y33XDVO2CXC18 | Long             | DBT              | CORP              | US        |  22339000 | PA      | $13180385.30  | 0.23%             | 2028-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC         | Nationstar Mortgage Holdings Inc                                               | CUSIP: 43734LAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  23250000 | PA      | $23250000.00  | 0.40%             | 2026-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC         | Nationstar Mortgage Holdings Inc                                               | CUSIP: 63861CAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9500000 | PA      | $9631100.00   | 0.16%             | 2030-12-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| NEW HOME CO INC/THE            | New Home Co Inc/The                                                            | CUSIP: 645370AG2<br>LEI: 549300PLCE8TB3TVRQ85 | Long             | DBT              | CORP              | US        |  14750000 | PA      | $15331754.75  | 0.26%             | 2030-11-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE        | Nissan Motor Acceptance Co LLC                                                 | CUSIP: 65480CAC9<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |  33400000 | PA      | $32221524.42  | 0.55%             | 2026-09-16      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| OWENS & MINOR INC              | Owens & Minor Inc                                                              | CUSIP: 690732AF9<br>LEI: 549300LMT5KQQXCEZ733 | Long             | DBT              | CORP              | US        |  52310000 | PA      | $42082830.05  | 0.72%             | 2029-03-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AMN HEALTHCARE INC             | AMN Healthcare Inc                                                             | CUSIP: 00175PAD5<br>LEI: 549300H27NUKBFFQEE84 | Long             | DBT              | CORP              | US        |  29500000 | PA      | $29622937.42  | 0.51%             | 2031-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ADIENT GLOBAL HOLDINGS         | Adient Global Holdings Ltd                                                     | CUSIP: 00687YAD7<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |  31000000 | PA      | $32096616.63  | 0.55%             | 2033-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ALLEGIANT TRAVEL CO            | Allegiant Travel Co                                                            | CUSIP: 01748XAD4<br>LEI: 549300JM9OZXOHWL2K18 | Long             | DBT              | CORP              | US        |  62975000 | PA      | $63788511.05  | 1.09%             | 2027-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| BANIJAY ENTERTAINMENT          | Banijay Entertainment SAS                                                      | CUSIP: 060335AB2<br>LEI: 969500CE0IE2EZ5VBG13 | Long             | DBT              | CORP              | FR        |  27911000 | PA      | $29012061.04  | 0.50%             | 2029-05-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| CONDUENT BUS SERVICES          | Conduent Business Services LLC / Conduent State & Local Solutions Inc          | CUSIP: 20679LAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  74500000 | PA      | $72072581.40  | 1.23%             | 2029-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED ENERGY FIN        | Consolidated Energy Finance SA                                                 | CUSIP: 20914UAH9<br>LEI: 549300PUNIS0USNSL750 | Long             | DBT              | CORP              | LU        |  19750000 | PA      | $18141362.50  | 0.31%             | 2031-02-15      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| HAS CAP INC OPP FUND           | HAS Capital Income Opportunity Fund II LLC                                     | CUSIP: 404083AB3<br>LEI: 549300R3FUKONGRMXM62 | Long             | DBT              | CORP              | US        |  21807000 | PA      | $14172238.46  | 0.24%             | 2031-08-31      | Fixed         | 8.00%                 | No            |                  3 | On Loan: No      |
| HERC HOLDINGS INC              | Herc Holdings Inc                                                              | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |  19000000 | PA      | $19748738.32  | 0.34%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA        | Hyundai Capital America                                                        | CUSIP: 44890MXH0<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | STIV             | CORP              | US        |  50000000 | PA      | $49898565.00  | 0.85%             | 2025-10-17      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| AMN HEALTHCARE INC             | AMN Healthcare Inc                                                             | CUSIP: 00175PAB9<br>LEI: 549300H27NUKBFFQEE84 | Long             | DBT              | CORP              | US        |  39815000 | PA      | $39823958.38  | 0.68%             | 2027-10-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| C&S GROUP ENTERPRISES LL       | C&S Group Enterprises LLC                                                      | CUSIP: 12467AAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  45765000 | PA      | $41448573.34  | 0.71%             | 2028-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALUMET SPECIALTY PROD         | Calumet Specialty Products Partners LP / Calumet Finance Corp                  | CUSIP: 131477AW1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  29232000 | PA      | $29081601.36  | 0.50%             | 2028-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| CALUMET SPECIALTY PROD         | Calumet Specialty Products Partners LP / Calumet Finance Corp                  | CUSIP: 131477AY7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9880000 | PA      | $9960334.28   | 0.17%             | 2026-04-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| CALUMET SPECIALTY PROD         | Calumet Specialty Products Partners LP / Calumet Finance Corp                  | CUSIP: 131477AZ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  35000000 | PA      | $34819925.00  | 0.59%             | 2028-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| CENTURY ALUMINUM COMPANY       | Century Aluminum Co                                                            | CUSIP: 156431AS7<br>LEI: 549300U5ODNGEYWKSW73 | Long             | DBT              | CORP              | US        |  27500000 | PA      | $28531057.50  | 0.49%             | 2032-08-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC.              | Crown Castle Inc                                                               | CUSIP: 22823PX99<br>LEI: 54930012H97VSM0I2R19 | Long             | STIV             | CORP              | US        |  50000000 | PA      | $49942355.00  | 0.85%             | 2025-10-09      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ENPRO INC                      | Enpro Inc                                                                      | CUSIP: 29355XAH0<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | DBT              | CORP              | US        |  33604000 | PA      | $34428754.73  | 0.59%             | 2033-06-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP                | Fair Isaac Corp                                                                | CUSIP: 303250AE4<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |  32378000 | PA      | $32412903.48  | 0.55%             | 2026-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FIRSTCASH INC                  | FirstCash Inc                                                                  | CUSIP: 31944TAA8<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |  19500000 | PA      | $19480316.70  | 0.33%             | 2030-01-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| FMC CORP                       | FMC Corp                                                                       | CUSIP: 34410WX98<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | STIV             | CORP              | US        |  15000000 | PA      | $14981616.00  | 0.26%             | 2025-10-09      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN          | Genesis Energy LP / Genesis Energy Finance Corp                                | CUSIP: 37185LAN2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10591490.00  | 0.18%             | 2030-04-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC           | Glencore Funding LLC                                                           | CUSIP: 37790AX32<br>LEI: 213800STG1QDNBY87K49 | Long             | STIV             | CORP              | US        |  50000000 | PA      | $49982065.00  | 0.85%             | 2025-10-03      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER         | Goodyear Tire & Rubber Co/The                                                  | CUSIP: 382550BN0<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |  14500000 | PA      | $14009969.60  | 0.24%             | 2029-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES DREDGE&DOCK        | Great Lakes Dredge & Dock Corp                                                 | CUSIP: 390607AF6<br>LEI: 549300H65E3MZ1CX0P05 | Long             | DBT              | CORP              | US        |  30747000 | PA      | $29828089.01  | 0.51%             | 2029-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ZIFF DAVIS INC                 | Ziff Davis Inc                                                                 | CUSIP: 48123VAE2<br>LEI: 5493008OJYGLHD7MXA18 | Long             | DBT              | CORP              | US        |  10595000 | PA      | $10189741.25  | 0.17%             | 2026-11-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| PARKER-HANNIFIN CORP           | Parker-Hannifin Corp                                                           | CUSIP: 70109LYR1<br>LEI: 5493002CONDB4N2HKI23 | Long             | STIV             | CORP              | US        |   6000000 | PA      | $5960246.40   | 0.10%             | 2025-11-25      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| REDFIN CORP                    | Redfin Corp                                                                    | CUSIP: 75737FAC2<br>LEI: 549300HXWD3JEMZU3O57 | Long             | DBT              | CORP              | US        |  27385000 | PA      | $27412385.00  | 0.47%             | 2025-10-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| SUMMIT HOTEL PROPERTIES        | Summit Hotel Properties Inc                                                    | CUSIP: 866082AA8<br>LEI: 254900OBQWJK6X20LS71 | Long             | DBT              | CORP              | US        |  53537000 | PA      | $52707176.50  | 0.90%             | 2026-02-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| SUNCOKE ENERGY INC             | SunCoke Energy Inc                                                             | CUSIP: 86722AAD5<br>LEI: 1KF1J2NXQE2PI0QOB943 | Long             | DBT              | CORP              | US        |  49066000 | PA      | $45902827.83  | 0.78%             | 2029-06-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC            | United Airlines Inc                                                            | CUSIP: 90932LAG2<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |  63930000 | PA      | $63795414.56  | 1.09%             | 2026-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| VW CREDIT INC                  | VW Credit Inc                                                                  | CUSIP: 91842JXU8<br>LEI: 549300UUPJ2NXDB68M19 | Long             | STIV             | CORP              | US        |  50000000 | PA      | $49833195.00  | 0.85%             | 2025-10-28      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC       | Vistra Operations Co LLC                                                       | CUSIP: 92840VAT9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   6500000 | PA      | $6541782.00   | 0.11%             | 2026-12-30      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| WABASH NATIONAL CORP           | Wabash National Corp                                                           | CUSIP: 929566AL1<br>LEI: 5299004ZAWHQZI5XO485 | Long             | DBT              | CORP              | US        |  54550000 | PA      | $50629016.92  | 0.86%             | 2028-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WILLIAM CARTER                 | William Carter Co/The                                                          | CUSIP: 96926JAC1<br>LEI: TGI2A0HXEYNQPU7TYV27 | Long             | DBT              | CORP              | US        |  59636000 | PA      | $59685945.15  | 1.02%             | 2027-03-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| ADVANCE AUTO PARTS             | Advance Auto Parts Inc                                                         | CUSIP: 00751YAK2<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |  27080000 | PA      | $27898271.76  | 0.48%             | 2030-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ALARM.COM HLDGS INC            | Alarm.com Holdings Inc                                                         | CUSIP: 011642AB1<br>LEI: 549300HIH92U1EKIHZ32 | Long             | DBT              | CORP              | US        |  28635000 | PA      | $28320015.00  | 0.48%             | 2026-01-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC             | Ally Financial Inc                                                             | CUSIP: 02005NBF6<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |  31981000 | PA      | $31998873.22  | 0.55%             | 2025-11-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SIGNATURE AVIATION US          | Signature Aviation US Holdings Inc                                             | CUSIP: 05545MAC6<br>LEI: 213800CSNQ87U1MC8N11 | Long             | DBT              | CORP              | US        |  25600000 | PA      | $23936000.00  | 0.41%             | 2028-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| THE BANCORP INC                | Bancorp Inc/The                                                                | CUSIP: 05969AAB1<br>LEI: 894500FP2ICT1B019Y71 | Long             | DBT              | CORP              | US        |  19500000 | PA      | $20367413.43  | 0.35%             | 2030-09-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| EMPIRE COMMUNITIES CORP        | Empire Communities Corp                                                        | CUSIP: 29163VAG8<br>LEI: 549300JM1L6KK2QFP273 | Long             | DBT              | CORP              | CA        |  48250000 | PA      | $50651402.50  | 0.87%             | 2029-05-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| ENOVA INTERNATIONAL INC        | Enova International Inc                                                        | CUSIP: 29357KAH6<br>LEI: 549300O8XOCQSB49UO63 | Long             | DBT              | CORP              | US        |  11750000 | PA      | $12517004.75  | 0.21%             | 2028-12-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC       | Ford Motor Credit Co LLC                                                       | CUSIP: 345397C43<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |  14000000 | PA      | $14108580.08  | 0.24%             | 2026-03-06      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| GGAM FINANCE LTD               | GGAM Finance Ltd                                                               | CUSIP: 36170JAB2<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |  70448000 | PA      | $70798167.42  | 1.21%             | 2026-05-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| HARROW INC                     | Harrow Inc                                                                     | CUSIP: 415858AC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  17315000 | PA      | $18018421.88  | 0.31%             | 2030-09-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| HECLA MINING CO                | Hecla Mining Co                                                                | CUSIP: 422704AH9<br>LEI: 5493009Y6HOBZD1QD537 | Long             | DBT              | CORP              | US        |  33967000 | PA      | $34301473.05  | 0.59%             | 2028-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC              | Herc Holdings Inc                                                              | CUSIP: 42704LAA2<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |  57418000 | PA      | $57318397.00  | 0.98%             | 2027-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC              | Iron Mountain Inc                                                              | CUSIP: 46284VAE1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $19980880.00  | 0.34%             | 2028-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JETBLUE AIRWAYS/LOYALTY        | JetBlue Airways Corp / JetBlue Loyalty LP                                      | CUSIP: 476920AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  54650000 | PA      | $55513995.19  | 0.95%             | 2031-09-20      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| KEN GARFF AUTOMOTIVE LLC       | Ken Garff Automotive LLC                                                       | CUSIP: 48850PAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  54664000 | PA      | $53569921.91  | 0.91%             | 2028-09-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Federated Hermes US Treasury C | Federated Hermes US Treasury Cash Reserves                                     | CUSIP: 60934N682<br>LEI: 25490003NTA1P9CI5X97 | Long             | STIV             | RF                | US        | 164921648 | NS      | $164921647.82 | 2.82%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                 | Morgan Stanley                                                                 | CUSIP: 6174467X1<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |  49500000 | PA      | $49538220.44  | 0.85%             | 2025-11-24      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC         | Nationstar Mortgage Holdings Inc                                               | CUSIP: 63861CAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  24680000 | PA      | $24680000.00  | 0.42%             | 2028-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I       | Performance Food Group Inc                                                     | CUSIP: 69346VAA7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |  57195000 | PA      | $57115281.61  | 0.98%             | 2027-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PARKER-HANNIFIN CORP           | Parker-Hannifin Corp                                                           | CUSIP: 70109LYQ3<br>LEI: 5493002CONDB4N2HKI23 | Long             | STIV             | CORP              | US        |  45000000 | PA      | $44707009.50  | 0.76%             | 2025-11-24      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| PITNEY BOWES INC               | Pitney Bowes Inc                                                               | CUSIP: 724479AQ3<br>LEI: 549300N2O26NW4ST6W55 | Long             | DBT              | CORP              | US        |  62645000 | PA      | $63697373.36  | 1.09%             | 2029-03-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| PRIMO / TRITON WATER HLD       | Primo Water Holdings Inc / Triton Water Holdings Inc                           | CUSIP: 74168RAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  25728000 | PA      | $25039927.80  | 0.43%             | 2029-04-30      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| REAL ALLOY EQUITY              | REAL ALLOY EQUITY                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       666 | NS      | $45425152.50  | 0.78%             |  |  |  | No            |                  3 | On Loan: No      |
| ROLLS-ROYCE PLC                | Rolls-Royce PLC                                                                | CUSIP: 77578JAB4<br>LEI: X57JK1U580XATGR67572 | Long             | DBT              | CORP              | GB        |  52550000 | PA      | $52527659.42  | 0.90%             | 2025-10-14      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| SHERWIN-WILLIAMS CO            | Sherwin-Williams Co/The                                                        | CUSIP: 82434TXM7<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | STIV             | CORP              | US        |  34000000 | PA      | $33916502.80  | 0.58%             | 2025-10-21      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP           | OneMain Finance Corp                                                           | CUSIP: 85172FAN9<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |  23917000 | PA      | $24148140.11  | 0.41%             | 2026-03-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| THOR INDUSTRIES                | Thor Industries Inc                                                            | CUSIP: 885160AA9<br>LEI: 254900XZO1228PDSG060 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9487631.80   | 0.16%             | 2029-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RXO INC                        | RXO Inc                                                                        | CUSIP: 98379JAA3<br>LEI: 549300KL8CA6GP8XPM30 | Long             | DBT              | CORP              | US        |  24500000 | PA      | $24931603.27  | 0.43%             | 2027-11-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| XEROX CORPORATION              | Xerox Corp                                                                     | CUSIP: 984121CS0<br>LEI: 4KF48RN45X1OO8UBLY20 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15257190.00  | 0.26%             | 2030-10-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| HARLEY-DAVIDSON FINL SER       | Harley-Davidson Financial Services Inc                                         | CUSIP: 41282JYE5<br>LEI: RLUFFFFW4GRYU77BTS24 | Long             | STIV             | CORP              | US        |  11000000 | PA      | $10938675.00  | 0.19%             | 2025-11-14      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW ENTERPRISE STONE & L       | New Enterprise Stone & Lime Co Inc                                             | CUSIP: 644274AH5<br>LEI: 549300O5DQ5Y61B8VF38 | Long             | DBT              | CORP              | US        |  46500000 | PA      | $46102996.95  | 0.79%             | 2028-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Southeastern Grocers Inc       | Southeastern Grocers Inc                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |   4649942 | NS      | $186202.28    | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| TIDEWATER INC                  | Tidewater Inc                                                                  | CUSIP: 88642RAE9<br>LEI: 2549000JA5GRUPLMUH98 | Long             | DBT              | CORP              | US        |  24000000 | PA      | $25785882.00  | 0.44%             | 2030-07-15      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                   | US Foods Inc                                                                   | CUSIP: 90290MAD3<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |  23384000 | PA      | $23060413.14  | 0.39%             | 2029-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| VAREX IMAGING CORPORATIO       | Varex Imaging Corp                                                             | CUSIP: 92214XAC0<br>LEI: 549300CWYWPVCT8E9W67 | Long             | DBT              | CORP              | US        |  50334000 | PA      | $51406919.54  | 0.88%             | 2027-10-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-24

**Name of Applicant:** Professionally Managed Portfolios

**Signature:** /s/ Kathryn LaPlante Johnson

**Name of Signer:** Kathryn LaPlante Johnson

**Title:** Assistant Treasurer