# EDGAR Filing Document

**Accession Number:** 0001616668
**File Stem:** 0000894189-25-010176
**Filing Date:** 2025-9
**Character Count:** 126843
**Document Hash:** cfc8ff7d4f4b172e77ff4c313df7a6ae
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-010176.hdr.sgml**: 20250929

**ACCESSION NUMBER**: 0000894189-25-010176

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250929

**DATE AS OF CHANGE**: 20250929

**PERIOD START**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Pacer Funds Trust
- **CENTRAL INDEX KEY:** 0001616668

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23024
- **FILM NUMBER:** 251355778

**BUSINESS ADDRESS:**
- **STREET 1:** 500 CHESTERFIELD PARKWAY
- **CITY:** MALVERN
- **STATE:** PA
- **ZIP:** 19355
- **BUSINESS PHONE:** 610-644-8100

**MAIL ADDRESS:**
- **STREET 1:** 500 CHESTERFIELD PARKWAY
- **CITY:** MALVERN
- **STATE:** PA
- **ZIP:** 19355

## Series and Classes Contracts Data

### Pacer Aristotle Pacific Floating Rate High Income ETF (Series ID: S000073714)

| Class ID   | Class Name                                            | Ticker Symbol   |
|:---|:---|:---|
| C000230803 | Pacer Aristotle Pacific Floating Rate High Income ETF | FLRT            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Pacer Pacific Asset Floating Rate High Income ETF** | **Pacer Pacific Asset Floating Rate High Income ETF** | **Pacer Pacific Asset Floating Rate High Income ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **July 31, 2025 (Unaudited)** | **July 31, 2025 (Unaudited)** | **July 31, 2025 (Unaudited)** |
| **BANK LOANS - 53.5%** | **Par** | **Value** |
| **Communication Services - 0.9%** | **Communication Services - 0.9%** | **Communication Services - 0.9%** |
|  StubHub Holdco Sub LLC, Senior Secured First Lien, 19.18% (1 mo. SOFR US + 4.75%), 03/15/2030 | $4974495 | $4944971 |
| **Consumer Discretionary - 13.1%** | **Consumer Discretionary - 13.1%** | **Consumer Discretionary - 13.1%** |
|  1011778 BC ULC, Senior Secured First Lien, 13.16% (1 mo. SOFR US + 1.75%), 09/23/2030 | 5265760 | 5260415 |
|  Allied Universal Holdco LLC, Senior Secured First Lien, 8.31% (1 mo. SOFR US + 3.75%), 05/15/2028 | 4933927 | 4950233 |
|  Bombardier Recreational Products, Inc., Senior Secured First Lien, 6.56% (1 mo. SOFR US + 2.00%), 05/24/2027 | 212534 | 212925 |
| Caesars Entertainment, Inc., Senior Secured First Lien | Caesars Entertainment, Inc., Senior Secured First Lien | Caesars Entertainment, Inc., Senior Secured First Lien |
| &nbsp;&nbsp; 6.61% (1 mo. SOFR US + 2.25%), 02/06/2030 | 1493902 | 1494993 |
| &nbsp;&nbsp; 14.65% (1 mo. SOFR US + 2.25%), 02/06/2031 | 2972387 | 2972759 |
|  Chariot Buyer LLC, Senior Secured First Lien, 7.81% (1 mo. SOFR US + 3.25%), 11/03/2028 | 4959092 | 4967225 |
|  Fertitta Entertainment LLC, Senior Secured First Lien, 12.10% (1 mo. SOFR US + 3.25%), 01/29/2029 | 4974293 | 4984117 |
|  Golden State Foods LLC, Senior Secured First Lien, 17.36% (1 mo. SOFR US + 4.25%), 12/04/2031 | 3225706 | 3247124 |
|  Great Outdoors Group LLC, Senior Secured First Lien, 15.16% (1 mo. SOFR US + 3.25%), 01/23/2032 | 4975000 | 4986194 |
|  IRB Holding Corp., Senior Secured First Lien, 13.93% (1 mo. SOFR US + 2.50%), 12/15/2027 | 724421 | 725040 |
| MajorDrive Holdings IV LLC, Senior Secured First Lien | MajorDrive Holdings IV LLC, Senior Secured First Lien | MajorDrive Holdings IV LLC, Senior Secured First Lien |
| &nbsp;&nbsp; 8.67% (3 mo. SOFR US + 4.00%), 06/01/2028 | 2451433 | 2415041 |
| &nbsp;&nbsp; 10.10% (3 mo. SOFR US + 5.50%), 06/01/2029 | 987245 | 980458 |
|  Motion Finco Sarl, Senior Secured First Lien, 16.64% (3 mo. SOFR US + 3.50%), 11/30/2029 | 4970069 | 4582229 |
|  Peer Holding III BV, Senior Secured First Lien, 6.80% (3 mo. SOFR US + 2.50%), 10/28/2030 | 2979862 | 2990097 |
|  SeaWorld Parks & Entertainment, Inc., Senior Secured First Lien, 12.88% (1 mo. SOFR US + 2.00%), 12/04/2031 | 4661837 | 4665730 |
|  Six Flags Entertainment Corp., Senior Secured First Lien, 13.67% (1 mo. SOFR US + 2.00%), 05/01/2031 | 3954988 | 3958290 |
|  United Airlines, Inc., Senior Secured First Lien, 10.99% (1 mo. SOFR US + 2.00%), 02/24/2031 | 1491671 | 1499316 |
|  Wand NewCo 3, Inc., Senior Secured First Lien, 13.92% (1 mo. SOFR US + 2.50%), 01/30/2031 | 4835395 | 4830850 |
|  Weber-Stephen Products LLC, First Lien, 7.69% (1 mo. Term SOFR + 3.25%), 10/29/2027 | 5000000 | 5003925 |
|  Whatabrands LLC, Senior Secured First Lien, 13.73% (1 mo. SOFR US + 2.50%), 08/03/2028 | 4940074 | 4946669 |
|  |  | 69673630 |
| **Consumer Staples - 0.9%** | **Consumer Staples - 0.9%** | **Consumer Staples - 0.9%** |
|  Savor Acquisition, Inc., Senior Secured First Lien, 7.61% (1 mo. SOFR US + 3.25%), 02/19/2032 | 4568966 | 4597522 |
|  Savor Acquisition, Inc., First Lien, 7.56% (3 mo. Term SOFR + 3.25%), 02/19/2032 <sup>(a)</sup> | 431035 | 433728 |
|  |  | 5031250 |
| **Energy - 1.4%** | **Energy - 1.4%** | **Energy - 1.4%** |
|  CQP Holdco LP, Senior Secured First Lien, 12.67% (3 mo. SOFR US + 2.00%), 12/31/2030 | 5140914 | 5152507 |
|  Traverse Midstream Partners LLC, Senior Secured First Lien, 16.13% (3 mo. SOFR US + 3.00%), 02/16/2028 | 2213106 | 2224171 |
|  |  | 7376678 |
| **Financials - 4.7%** | **Financials - 4.7%** | **Financials - 4.7%** |
|  Acrisure LLC, Senior Secured First Lien, 14.71% (1 mo. SOFR US + 3.00%), 11/06/2030 | 4228141 | 4234081 |
|  AssuredPartners, Inc., Senior Secured First Lien, 16.68% (1 mo. SOFR US + 3.50%), 02/14/2031 | 1975000 | 1981261 |
|  Avolon TLB Borrower 1 US LLC, Senior Secured First Lien, 13.68% (1 mo. SOFR US + 1.75%), 06/24/2030 | 3123362 | 3128328 |
|  Boost Newco Borrower LLC, Senior Secured First Lien, 12.59% (3 mo. SOFR US + 2.00%), 01/31/2031 | 987525 | 990305 |
|  Deerfield Dakota Holding LLC, Senior Secured First Lien, 12.80% (3 mo. SOFR US + 3.75%), 04/09/2027 | 4923385 | 4887346 |
| HUB International Ltd., Senior Secured First Lien | HUB International Ltd., Senior Secured First Lien | HUB International Ltd., Senior Secured First Lien |
| &nbsp;&nbsp; 6.83% (1 mo. SOFR US + 2.50%), 06/20/2030 | 4956 | 4968 |
| &nbsp;&nbsp; 6.83% (3 mo. SOFR US + 2.50%), 06/20/2030 | 1683049 | 1687030 |
|  Hyperion Refinance Sarl, Senior Secured First Lien, 7.36% (1 mo. SOFR US + 3.00%), 02/18/2031 | 4974937 | 4988693 |
|  SBA Senior Finance II LLC, Senior Secured First Lien, 13.45% (1 mo. SOFR US + 1.75%), 01/27/2031 | 2908335 | 2921437 |
|  |  | 24823449 |
| **Health Care - 2.4%** | **Health Care - 2.4%** | **Health Care - 2.4%** |
| Bausch + Lomb Corp., Senior Secured First Lien | Bausch + Lomb Corp., Senior Secured First Lien | Bausch + Lomb Corp., Senior Secured First Lien |
| &nbsp;&nbsp; 17.67% (1 mo. SOFR US + 4.00%), 09/29/2028 | 4001356 | 4008038 |
| &nbsp;&nbsp; 8.61% (1 mo. SOFR US + 4.25%), 01/15/2031 | 859294 | 864020 |
|  Elanco Animal Health, Inc., Senior Secured First Lien, 6.28% (1 mo. SOFR US + 1.75%), 08/02/2027 | 868043 | 868230 |
|  Medline Borrower LP, Senior Secured First Lien, 14.16% (1 mo. SOFR US + 2.25%), 10/23/2028 | 4750960 | 4760533 |
|  Phoenix Newco, Inc., Senior Secured First Lien, 13.67% (1 mo. SOFR US + 2.50%), 11/15/2028 | 2368276 | 2374351 |
|  |  | 12875172 |
| **Industrials - 18.1%** | **Industrials - 18.1%** | **Industrials - 18.1%** |
|  Apple Bidco LLC, Senior Secured First Lien, 13.68% (1 mo. SOFR US + 2.50%), 09/23/2031 | 4954975 | 4974398 |
|  Chart Industries, Inc., Senior Secured First Lien, 14.62% (3 mo. SOFR US + 2.50%), 03/18/2030 | 4061329 | 4084174 |
|  Core & Main LP, Senior Secured First Lien, 12.65% (6 mo. SOFR US + 2.00%), 02/10/2031 | 3455131 | 3470248 |
|  CoreLogic, Inc., Senior Secured First Lien, 8.09% (1 mo. SOFR US + 3.50%), 06/02/2028 | 4936001 | 4930621 |
|  Crosby US Acquisition Corp., Senior Secured First Lien, 16.21% (1 mo. SOFR US + 3.50%), 08/16/2029 | 3458797 | 3481936 |
|  Cube A&D Buyer, Inc., Senior Secured First Lien, 15.71% (3 mo. SOFR US + 3.25%), 10/20/2031 | 3890250 | 3913961 |
|  Doosan Bobcat North America, Inc., Senior Secured First Lien, 13.62% (3 mo. SOFR US + 2.00%), 04/20/2029 | 4448871 | 4473206 |
|  Dun & Bradstreet Corp., Senior Secured First Lien, 13.46% (1 mo. SOFR US + 2.25%), 01/18/2029 | 4453327 | 4456511 |
|  Dynasty Acquisition Co., Inc., Senior Secured First Lien, 13.29% (1 mo. SOFR US + 2.00%), 10/31/2031 | 6467500 | 6491171 |
|  Emrld Borrower LP, Senior Secured First Lien, 15.10% (6 mo. SOFR US + 2.50%), 05/31/2030 | 4283661 | 4291907 |
|  Engineered Machinery Holdings, Inc., Senior Secured Second Lien, 10.82% (3 mo. SOFR US + 6.00%), 05/21/2029 | 600000 | 603249 |
|  Engineered Machinery Holdings, Inc., Senior Secured First Lien, 8.32% (3 mo. SOFR US + 3.50%), 05/22/2028 | 1969388 | 1982218 |
|  Filtration Group Corp., Senior Secured First Lien, 14.67% (1 mo. SOFR US + 3.00%), 10/23/2028 | 3961519 | 3975443 |
| Gates Corp./DE, Senior Secured First Lien | Gates Corp./DE, Senior Secured First Lien | Gates Corp./DE, Senior Secured First Lien |
| &nbsp;&nbsp; 6.11% (1 mo. SOFR US + 1.75%), 11/16/2029 | 3470125 | 3470402 |
| &nbsp;&nbsp; 13.69% (1 mo. SOFR US + 1.75%), 06/04/2031 | 746241 | 746088 |
|  Goat Holdco LLC, Senior Secured First Lien, 14.67% (1 mo. SOFR US + 3.00%), 01/27/2032 | 5319668 | 5332967 |
| Husky Injection Molding Systems Ltd., Senior Secured First Lien | Husky Injection Molding Systems Ltd., Senior Secured First Lien | Husky Injection Molding Systems Ltd., Senior Secured First Lien |
| &nbsp;&nbsp; 8.67% (1 mo. SOFR US + 4.50%), 02/15/2029 | 2099097 | 2102099 |
| &nbsp;&nbsp; 8.80% (3 mo. SOFR US + 4.50%), 02/15/2029 | 2099097 | 2102099 |
|  Madison IAQ LLC, Senior Secured First Lien, 15.39% (6 mo. SOFR US + 2.50%), 06/21/2028 | 4929059 | 4937759 |
|  Oregon Tool Lux LP, Senior Secured Second Lien, 16.91% (3 mo. SOFR US + 4.26%), 10/15/2029 | 3157645 | 2606052 |
|  Roper Industrial Products Investment Co., Senior Secured First Lien, 11.49% (3 mo. SOFR US + 2.75%), 11/23/2029 | 3951453 | 3963189 |
|  SPX FLOW, Inc., Senior Secured First Lien, 14.83% (1 mo. SOFR US + 3.00%), 04/05/2029 | 5272617 | 5292890 |
| TK Elevator US Newco, Inc., Senior Secured First Lien | TK Elevator US Newco, Inc., Senior Secured First Lien | TK Elevator US Newco, Inc., Senior Secured First Lien |
| &nbsp;&nbsp; 7.20% (3 mo. SOFR US + 3.00%), 04/30/2030 | 2148084 | 2162315 |
| &nbsp;&nbsp; 7.20% (6 mo. SOFR US + 3.00%), 04/30/2030 | 2313303 | 2328629 |
| TransDigm, Inc., Senior Secured First Lien | TransDigm, Inc., Senior Secured First Lien | TransDigm, Inc., Senior Secured First Lien |
| &nbsp;&nbsp; 15.12% (3 mo. SOFR US + 2.75%), 03/22/2030 | 1601205 | 1608779 |
| &nbsp;&nbsp; 15.39% (3 mo. SOFR US + 2.50%), 02/28/2031 | 3964975 | 3981172 |
|  WEC US Holdings, Inc., Senior Secured First Lien, 11.91% (1 mo. SOFR US + 2.25%), 01/27/2031 | 4952481 | 4961569 |
|  |  | 96725052 |
| **Information Technology - 7.8%** | **Information Technology - 7.8%** | **Information Technology - 7.8%** |
|  Applied Systems, Inc., Senior Secured First Lien, 15.62% (3 mo. SOFR US + 2.50%), 02/24/2031 | 3465088 | 3472070 |
|  AthenaHealth Group, Inc., Senior Secured First Lien, 11.11% (1 mo. SOFR US + 2.75%), 02/15/2029 | 4779613 | 4781763 |
|  BCPE Pequod Buyer, Inc., Senior Secured First Lien, 15.44% (1 mo. SOFR US + 3.00%), 11/25/2031 | 4992500 | 5008102 |
|  Central Parent LLC, Senior Secured First Lien, 16.12% (3 mo. SOFR US + 3.25%), 07/06/2029 | 3970006 | 3245480 |
|  Epicor Software Corp., First Lien, 7.08% (1 mo. Term SOFR + 2.75%), 05/30/2031 | 4402383 | 4415150 |
|  Peraton Corp., Senior Secured First Lien, 8.31% (1 mo. SOFR US + 3.75%), 02/01/2028 | 2932276 | 2617745 |
|  Polaris Newco LLC, Senior Secured First Lien, 8.43% (3 mo. SOFR US + 3.75%), 06/05/2028 | 5178309 | 5089967 |
|  Tempo Acquisition LLC, Senior Secured First Lien, 12.21% (1 mo. SOFR US + 1.75%), 08/31/2028 | 5027078 | 5019613 |
|  UKG, Inc., Senior Secured First Lien, 12.13% (3 mo. SOFR US + 2.50%), 02/10/2031 | 3945000 | 3949063 |
|  X Corp., Senior Secured First Lien, 11.11% (3 mo. SOFR US + 6.50%), 10/29/2029 | 4000000 | 3904680 |
|  |  | 41503633 |
| **Materials - 4.2%** | **Materials - 4.2%** | **Materials - 4.2%** |
|  Asplundh Tree Expert LLC, Senior Secured First Lien, 13.18% (1 mo. SOFR US + 1.75%), 05/23/2031 | 4948474 | 4964259 |
|  Graham Packaging Co., Inc., Senior Secured First Lien, 14.70% (1 mo. SOFR US + 2.50%), 08/04/2027 | 5146301 | 5159862 |
| Iris Holding, Inc., Senior Secured First Lien | Iris Holding, Inc., Senior Secured First Lien | Iris Holding, Inc., Senior Secured First Lien |
| &nbsp;&nbsp; 15.47% (3 mo. SOFR US + 4.75%), 06/28/2028 | 761421 | 742679 |
| &nbsp;&nbsp; 9.23% (3 mo. SOFR US + 4.75%), 06/28/2028 | 719543 | 701832 |
|  Nouryon Finance BV, Senior Secured First Lien, 15.17% (3 mo. SOFR US + 3.25%), 04/03/2028 | 1170543 | 1172374 |
|  Pregis TopCo LLC, Senior Secured First Lien, 8.36% (1 mo. SOFR US + 4.00%), 02/01/2029 | 1954127 | 1975866 |
| Proampac PG Borrower LLC, Senior Secured First Lien | Proampac PG Borrower LLC, Senior Secured First Lien | Proampac PG Borrower LLC, Senior Secured First Lien |
| &nbsp;&nbsp; 17.65% (3 mo. SOFR US + 4.00%), 09/15/2028 | 1775856 | 1783626 |
| &nbsp;&nbsp; 17.65% (3 mo. SOFR US + 4.00%), 09/15/2028 | 1143868 | 1148872 |
|  Quikrete Holdings, Inc., Senior Secured First Lien, 13.17% (1 mo. SOFR US + 2.25%), 04/14/2031 | 4892200 | 4894573 |
|  |  | 22543943 |
| **TOTAL BANK LOANS** (Cost $285,620,892) | **TOTAL BANK LOANS** (Cost $285,620,892) | 285497778 |
| **COLLATERALIZED LOAN OBLIGATIONS - 34.9%** | **Par** | **Value** |
| Aimco CDO | Aimco CDO | Aimco CDO |
| &nbsp;&nbsp; Series 2015-AA, Class ER3, 10.67% (3 mo. Term SOFR + 6.35%), 10/17/2034 <sup>(b)</sup> | 2500000 | 2513872 |
| &nbsp;&nbsp; Series 2019-10A, Class ERR, 9.98% (3 mo. Term SOFR + 5.65%), 07/22/2037 <sup>(b)</sup> | 825000 | 838658 |
| &nbsp;&nbsp; Series 2020-11A, Class ER2, 9.67% (3 mo. Term SOFR + 5.35%), 07/17/2037 <sup>(b)</sup> | 3000000 | 3036314 |
| &nbsp;&nbsp; Series 2021-15A, Class ER, 8.92% (3 mo. Term SOFR + 4.60%), 04/17/2038 <sup>(b)</sup> | 2000000 | 2004054 |
|  AIMCO CLO Series 2018-B, Series 2018-BA, Class ER, 10.62% (3 mo. Term SOFR + 6.30%), 04/16/2037 <sup>(b)</sup> | 2000000 | 2031811 |
|  ARES CLO, Series 2017-43A, Class A1R2, 5.67% (3 mo. Term SOFR + 1.35%), 01/15/2038 <sup>(b)</sup> | 5000000 | 5021488 |
|  Barrow Hanley Ltd., Series 2023-2A, Class ER, 9.43% (3 mo. Term SOFR + 5.10%), 10/20/2035 <sup>(b)</sup> | 500000 | 503985 |
|  Beechwood Park CLO Ltd., Series 2019-1A, Class ER, 10.82% (3 mo. Term SOFR + 6.50%), 01/17/2035 <sup>(b)</sup> | 1000000 | 1008178 |
| Benefit Street Partners CLO Ltd. | Benefit Street Partners CLO Ltd. | Benefit Street Partners CLO Ltd. |
| &nbsp;&nbsp; Series 2015-6BR, Class A1R, 5.51% (3 mo. Term SOFR + 1.18%), 04/20/2038 <sup>(b)</sup> | 5000000 | 5002148 |
| &nbsp;&nbsp; Series 2021-23A, Class DR, 7.22% (3 mo. Term SOFR + 2.90%), 04/25/2034 <sup>(b)</sup> | 3000000 | 3023790 |
| &nbsp;&nbsp; Series 2021-24A, Class ER, 8.93% (3 mo. Term SOFR + 4.60%), 10/20/2034 <sup>(b)</sup> | 1625000 | 1623912 |
| &nbsp;&nbsp; Series 2021-25A, Class ER, 8.92% (3 mo. Term SOFR + 4.60%), 01/15/2035 <sup>(b)</sup> | 1000000 | 999284 |
| &nbsp;&nbsp; Series 2022-29A, Class ER, 8.92% (3 mo. Term SOFR + 4.60%), 01/25/2038 <sup>(b)</sup> | 1000000 | 1001352 |
|  Birch Grove CLO, Series 2025-12A, Class SUB, 0.00%, 04/22/2038 <sup>(b)(c)(d)</sup> | 1000000 | 1078500 |
|  Bowling Green Park CLO LLC, Series 2019-1A, Class ERR, 8.81% (3 mo. Term SOFR + 4.50%), 04/18/2035 <sup>(b)</sup> | 2000000 | 1982713 |
|  Buttermilk Park CLO, Series 2018-1A, Class DR, 7.27% (3 mo. Term SOFR + 2.95%), 10/15/2031 <sup>(b)</sup> | 2000000 | 2004209 |
|  CarVal CLO, Series 2023-1A, Class ER, 10.68% (3 mo. Term SOFR + 6.35%), 07/20/2037 <sup>(b)</sup> | 2000000 | 2019198 |
| CIFC Funding Ltd. | CIFC Funding Ltd. | CIFC Funding Ltd. |
| &nbsp;&nbsp; Series 2014-2RA, Class AR, 5.68% (3 mo. Term SOFR + 1.36%), 10/24/2037 <sup>(b)</sup> | 3000000 | 3010693 |
| &nbsp;&nbsp; Series 2019-6A, Class A1R, 5.77% (3 mo. Term SOFR + 1.45%), 07/16/2037 <sup>(b)</sup> | 2000000 | 2006944 |
| &nbsp;&nbsp; Series 2019-7A, Class E, 12.00% (3 mo. Term SOFR + 7.67%), 01/20/2033 <sup>(b)</sup> | 1000000 | 1005966 |
| &nbsp;&nbsp; Series 2024-1A, Class E, 10.93% (3 mo. Term SOFR + 6.60%), 04/18/2037 <sup>(b)</sup> | 1000000 | 1020409 |
| Clover CLO | Clover CLO | Clover CLO |
| &nbsp;&nbsp; Series 2018-1A, Class ERR, 10.73% (3 mo. Term SOFR + 6.40%), 04/20/2037 <sup>(b)</sup> | 1650000 | 1682074 |
| &nbsp;&nbsp; Series 2021-3A, Class ER, 9.22% (3 mo. Term SOFR + 4.90%), 01/25/2035 <sup>(b)</sup> | 1000000 | 1001004 |
|  DIAMETER CAPITAL CLO, Series 2024-6A, Class D, 11.49% (3 mo. Term SOFR + 7.17%), 04/15/2037 <sup>(b)</sup> | 1200000 | 1224721 |
| Elmwood CLO Ltd. | Elmwood CLO Ltd. | Elmwood CLO Ltd. |
| &nbsp;&nbsp; Series 2020-2A, Class D1RR, 7.48% (3 mo. Term SOFR + 3.15%), 10/20/2037 <sup>(b)</sup> | 3000000 | 3020284 |
| &nbsp;&nbsp; Series 2022-4A, Class ER, 10.02% (3 mo. Term SOFR + 5.70%), 07/17/2037 <sup>(b)</sup> | 1275000 | 1291647 |
| &nbsp;&nbsp; Series 2023-1A, Class AR, 5.52% (3 mo. Term SOFR + 1.20%), 04/17/2038 <sup>(b)</sup> | 2500000 | 2500507 |
| &nbsp;&nbsp; Series 2023-2A, Class ER, 10.22% (3 mo. Term SOFR + 5.90%), 04/16/2036 <sup>(b)</sup> | 2500000 | 2537142 |
| &nbsp;&nbsp; Series 2023-3A, Class ER, 9.42% (3 mo. Term SOFR + 5.10%), 01/17/2038 <sup>(b)</sup> | 3000000 | 3024765 |
| &nbsp;&nbsp; Series 2024-10A, Class E, 9.67% (3 mo. Term SOFR + 5.35%), 10/17/2037 <sup>(b)</sup> | 2000000 | 2022156 |
| &nbsp;&nbsp; Series 2024-1A, Class E, 9.57% (3 mo. Term SOFR + 5.25%), 04/17/2037 <sup>(b)</sup> | 2930000 | 2962491 |
| &nbsp;&nbsp; Series 2024-4A, Class E, 10.32% (3 mo. Term SOFR + 6.00%), 04/17/2037 <sup>(b)</sup> | 1550000 | 1578772 |
| Flatiron CLO Ltd. | Flatiron CLO Ltd. | Flatiron CLO Ltd. |
| &nbsp;&nbsp; Series 2020-1A, Class ER, 10.77% (3 mo. Term SOFR + 6.45%), 05/20/2036 <sup>(b)</sup> | 1500000 | 1511353 |
| &nbsp;&nbsp; Series 2021-1A, Class ER, 10.23% (3 mo. Term SOFR + 5.90%), 10/19/2037 <sup>(b)</sup> | 1250000 | 1264289 |
| &nbsp;&nbsp; Series 2021-2A, Class ER, 8.57% (3 mo. Term SOFR + 4.25%), 10/15/2034 <sup>(b)</sup> | 1200000 | 1190713 |
| &nbsp;&nbsp; Series 2025-32A, Class E, 9.11% (3 mo. Term SOFR + 4.90%), 10/22/2038 <sup>(b)</sup> | 1825000 | 1829562 |
| &nbsp;&nbsp; Series 2025-32A, Class SUB, 0.00%, 10/22/2038 <sup>(b)(c)(d)</sup> | 1000000 | 848700 |
|  Galaxy CLO Ltd., Series 2024-34A, Class E, 10.23% (3 mo. Term SOFR + 5.90%), 10/20/2037 <sup>(b)</sup> | 1875000 | 1908037 |
|  GoldenTree Loan Management US CLO, Series 2017-1A, Class FR2, 12.09% (3 mo. Term SOFR + 7.76%), 04/20/2034 <sup>(b)</sup> | 1000000 | 980629 |
| Goldentree Loan Opportunities Ltd. | Goldentree Loan Opportunities Ltd. | Goldentree Loan Opportunities Ltd. |
| &nbsp;&nbsp; Series 2019-6A, Class ER2, 8.83% (3 mo. Term SOFR + 4.50%), 04/20/2035 <sup>(b)</sup> | 1575000 | 1557165 |
| &nbsp;&nbsp; Series 2022-12A, Class ER, 10.03% (3 mo. Term SOFR + 5.70%), 07/20/2037 <sup>(b)</sup> | 1000000 | 1004253 |
| &nbsp;&nbsp; Series 2025-25A, Class E, 10.07% (3 mo. Term SOFR + 5.75%), 04/20/2038 <sup>(b)</sup> | 2000000 | 2038365 |
|  Golub Capital Partners CLO Ltd., Series 2023-66A, Class AR, 5.77% (3 mo. Term SOFR + 1.45%), 07/25/2038 <sup>(b)</sup> | 4000000 | 4022235 |
|  Greenacre Park CLO LLC, Series 2021-2A, Class ER, 10.30% (3 mo. Term SOFR + 6.00%), 07/20/2038 <sup>(b)</sup> | 700000 | 713719 |
|  Harbor Park CLO Ltd., Series 2018-1A, Class E, 10.19% (3 mo. Term SOFR + 5.86%), 01/20/2031 <sup>(b)</sup> | 1000000 | 1001997 |
|  Invesco CLO Ltd., Series 2023-1A, Class ER, 11.23% (3 mo. Term SOFR + 6.90%), 04/22/2037 <sup>(b)</sup> | 1180000 | 1203453 |
|  Juniper Valley Park CLO Ltd., Series 2023-1A, Class ER, 9.83% (3 mo. Term SOFR + 5.50%), 07/20/2036 <sup>(b)</sup> | 2550000 | 2574007 |
| Magnetite CLO Ltd. | Magnetite CLO Ltd. | Magnetite CLO Ltd. |
| &nbsp;&nbsp; Series 2016-17A, Class DR2, 7.83% (3 mo. Term SOFR + 3.50%), 04/20/2037 <sup>(b)</sup> | 3000000 | 3013918 |
| &nbsp;&nbsp; Series 2019-22A, Class ERR, 9.72% (3 mo. Term SOFR + 5.40%), 07/15/2036 <sup>(b)</sup> | 1900000 | 1917857 |
| &nbsp;&nbsp; Series 2020-26A, Class AR2, 5.47% (3 mo. Term SOFR + 1.15%), 01/25/2038 <sup>(b)</sup> | 3000000 | 2997750 |
| &nbsp;&nbsp; Series 2020-26A, Class ER2, 9.02% (3 mo. Term SOFR + 4.70%), 01/25/2038 <sup>(b)</sup> | 3000000 | 3010213 |
| &nbsp;&nbsp; Series 2021-29A, Class ER, 10.32% (3 mo. Term SOFR + 6.00%), 07/15/2037 <sup>(b)</sup> | 1000000 | 1015477 |
| &nbsp;&nbsp; Series 2021-30A, Class ER, 9.67% (3 mo. Term SOFR + 5.35%), 10/25/2037 <sup>(b)</sup> | 1475000 | 1491567 |
| &nbsp;&nbsp; Series 2021-31A, Class E, 10.58% (3 mo. Term SOFR + 6.26%), 07/15/2034 <sup>(b)</sup> | 1000000 | 1003390 |
| &nbsp;&nbsp; Series 2023-37A, Class D, 8.33% (3 mo. Term SOFR + 4.00%), 10/20/2036 <sup>(b)</sup> | 2000000 | 2026605 |
| &nbsp;&nbsp; Series 2024-40A, Class E, 10.07% (3 mo. Term SOFR + 5.75%), 07/15/2037 <sup>(b)</sup> | 1125000 | 1142466 |
| &nbsp;&nbsp; Series 2025-48A, Class E, 0.00% (3 mo. Term SOFR + 4.85%), 10/15/2038 <sup>(b)(d)</sup> | 3000000 | 3015417 |
| Neuberger Berman CLO Ltd. | Neuberger Berman CLO Ltd. | Neuberger Berman CLO Ltd. |
| &nbsp;&nbsp; Series 2019-34A, Class A1R2, 0.00% (3 mo. Term SOFR + 1.30%), 07/20/2039 <sup>(b)(d)</sup> | 5000000 | 5004295 |
| &nbsp;&nbsp; Series 2019-34A, Class ER2, 0.00% (3 mo. Term SOFR + 5.00%), 07/20/2039 <sup>(b)(d)</sup> | 2125000 | 2135920 |
| &nbsp;&nbsp; Series 2021-41A, Class E, 11.08% (3 mo. Term SOFR + 6.76%), 04/15/2034 <sup>(b)</sup> | 1200000 | 1203823 |
| &nbsp;&nbsp; Series 2021-42A, Class ER, 8.92% (3 mo. Term SOFR + 4.60%), 07/16/2036 <sup>(b)</sup> | 1050000 | 1046336 |
| &nbsp;&nbsp; Series 2021-43A, Class ER, 8.92% (3 mo. Term SOFR + 4.60%), 07/17/2036 <sup>(b)</sup> | 1670000 | 1661988 |
| &nbsp;&nbsp; Series 2021-44A, Class ER, 9.47% (3 mo. Term SOFR + 5.15%), 10/16/2035 <sup>(b)</sup> | 2400000 | 2422015 |
| &nbsp;&nbsp; Series 2022-48A, Class E, 10.82% (3 mo. Term SOFR + 6.50%), 04/25/2036 <sup>(b)</sup> | 1500000 | 1507018 |
| &nbsp;&nbsp; Series 2022-49A, Class ER, 9.82% (3 mo. Term SOFR + 5.50%), 07/25/2035 <sup>(b)</sup> | 2875000 | 2886825 |
| &nbsp;&nbsp; Series 2022-50A, Class ER, 9.82% (3 mo. Term SOFR + 5.50%), 07/23/2036 <sup>(b)</sup> | 3000000 | 3024821 |
|  Neuberger Berman Loan Advisers NBLA CLO 53 Ltd., Series 2024-56A, Class E, 10.07% (3 mo. Term SOFR + 5.75%), 07/24/2037 <sup>(b)</sup> | 1275000 | 1298857 |
|  Ocean Trails CLO, Series 2024-16A, Class E, 11.02% (3 mo. Term SOFR + 6.69%), 01/20/2038 <sup>(b)</sup> | 1000000 | 1025971 |
| OCP CLO Ltd. | OCP CLO Ltd. | OCP CLO Ltd. |
| &nbsp;&nbsp; Series 2017-14A, Class A1R, 5.70% (3 mo. Term SOFR + 1.37%), 07/20/2037 <sup>(b)</sup> | 2000000 | 2006996 |
| &nbsp;&nbsp; Series 2019-17A, Class D1R2, 7.43% (3 mo. Term SOFR + 3.10%), 07/20/2037 <sup>(b)</sup> | 1500000 | 1513029 |
| &nbsp;&nbsp; Series 2024-37A, Class E, 9.82% (3 mo. Term SOFR + 5.50%), 10/15/2037 <sup>(b)</sup> | 2090000 | 2127406 |
| &nbsp;&nbsp; Series 2025-40A, Class SUB, 0.00%, 04/16/2038 <sup>(b)(c)(d)</sup> | 1000000 | 881860 |
|  Octagon Investment Partners Ltd., Series 2021-1A, Class A1, 5.70% (3 mo. Term SOFR + 1.38%), 07/15/2034 <sup>(b)</sup> | 1000000 | 1002723 |
| OHA Credit Funding | OHA Credit Funding | OHA Credit Funding |
| &nbsp;&nbsp; Series 2018-1A, Class ER, 10.83% (3 mo. Term SOFR + 6.50%), 04/20/2037 <sup>(b)</sup> | 1000000 | 1021464 |
| &nbsp;&nbsp; Series 2020-5A, Class ER, 9.73% (3 mo. Term SOFR + 5.40%), 10/18/2037 <sup>(b)</sup> | 2000000 | 2023421 |
| &nbsp;&nbsp; Series 2022-11A, Class ER, 9.73% (3 mo. Term SOFR + 5.40%), 07/19/2037 <sup>(b)</sup> | 3000000 | 3030667 |
| &nbsp;&nbsp; Series 2025-22A, Class E, 9.83% (3 mo. Term SOFR + 5.55%), 07/20/2038 <sup>(b)</sup> | 1275000 | 1300908 |
| OHA Credit Partners Ltd. | OHA Credit Partners Ltd. | OHA Credit Partners Ltd. |
| &nbsp;&nbsp; Series 2015-11A, Class ER2, 10.08% (3 mo. Term SOFR + 5.75%), 04/20/2037 <sup>(b)</sup> | 1330000 | 1339149 |
| &nbsp;&nbsp; Series 2017-14A, Class ER, 9.78% (3 mo. Term SOFR + 5.45%), 07/21/2037 <sup>(b)</sup> | 1175000 | 1190815 |
| &nbsp;&nbsp; Series 2021-16A, Class ER, 9.83% (3 mo. Term SOFR + 5.50%), 10/18/2037 <sup>(b)</sup> | 1000000 | 1012511 |
|  OHA Loan Funding Ltd., Series 2016-1A, Class ER2, 10.03% (3 mo. Term SOFR + 5.70%), 07/20/2037 <sup>(b)</sup> | 1625000 | 1652808 |
| Palmer Square Loan Funding Ltd. | Palmer Square Loan Funding Ltd. | Palmer Square Loan Funding Ltd. |
| &nbsp;&nbsp; Series 2022-4A, Class DR, 9.07% (3 mo. Term SOFR + 4.75%), 07/24/2031 <sup>(b)</sup> | 1000000 | 1003671 |
| &nbsp;&nbsp; Series 2024-2A, Class D, 9.02% (3 mo. Term SOFR + 4.70%), 01/15/2033 <sup>(b)</sup> | 1000000 | 1002289 |
| &nbsp;&nbsp; Series 2024-3A, Class D, 9.71% (3 mo. Term SOFR + 5.40%), 08/08/2032 <sup>(b)</sup> | 1000000 | 1003754 |
|  Parallel CLO Ltd., Series 2020-1A, Class A1R, 5.81% (3 mo. Term SOFR + 1.48%), 07/20/2034 <sup>(b)</sup> | 2000000 | 2002559 |
|  Pikes Peak CLO, Series 2020-6A, Class ERR, 8.92% (3 mo. Term SOFR + 4.60%), 05/18/2034 <sup>(b)</sup> | 3000000 | 2959535 |
|  Point Au Roche Park CLO, Series 2021-1A, Class E, 10.69% (3 mo. Term SOFR + 6.36%), 07/20/2034 <sup>(b)</sup> | 370000 | 371481 |
| Rad CLO | Rad CLO | Rad CLO |
| &nbsp;&nbsp; Series 2021-12A, Class A1AR, 5.63% (3 mo. Term SOFR + 1.32%), 07/30/2040 <sup>(b)</sup> | 5000000 | 5004295 |
| &nbsp;&nbsp; Series 2024-25A, Class D1, 7.48% (3 mo. Term SOFR + 3.15%), 07/20/2037 <sup>(b)</sup> | 2500000 | 2520487 |
|  RR Ltd./Cayman Islands, Series 2020-8A, Class DR, 10.57% (3 mo. Term SOFR + 6.25%), 07/15/2037 <sup>(b)</sup> | 1000000 | 1003531 |
|  Sixth Street CLO, Series 2021-19A, Class E, 10.49% (3 mo. Term SOFR + 6.16%), 07/20/2034 <sup>(b)</sup> | 500000 | 500025 |
|  Symphony CLO Ltd., Series 2022-37A, Class DR, 9.23% (3 mo. Term SOFR + 4.90%), 01/20/2037 <sup>(b)</sup> | 1250000 | 1263843 |
|  TCI-Flatiron CLO Ltd., Series 2016-1A, Class ER3, 10.57% (3 mo. Term SOFR + 6.25%), 01/17/2032 <sup>(b)</sup> | 1000000 | 1000048 |
|  Trimaran CAVU LLC, Series 2021-3A, Class E, 11.96% (3 mo. Term SOFR + 7.63%), 01/18/2035 <sup>(b)</sup> | 1925000 | 1933024 |
|  Voya CLO Ltd., Series 2020-2A, Class A1RR, 5.64% (3 mo. Term SOFR + 1.31%), 01/20/2038 <sup>(b)</sup> | 5000000 | 5017500 |
|  Wellington Management Clo 2 Ltd., Series 2024-2A, Class E, 11.23% (3 mo. Term SOFR + 6.90%), 04/20/2037 <sup>(b)</sup> | 1510000 | 1533290 |
|  Wellington Management CLO Ltd., Series 2024-3A, Class A1, 5.69% (3 mo. Term SOFR + 1.36%), 07/18/2037 <sup>(b)</sup> | 5000000 | 5016980 |
| **TOTAL COLLATERALIZED LOAN OBLIGATIONS** (Cost $184,791,834) | **TOTAL COLLATERALIZED LOAN OBLIGATIONS** (Cost $184,791,834) | 186324116 |
| **CORPORATE BONDS - 7.9%** | **Par** | **Value** |
| **Consumer Discretionary - 2.2%** | **Consumer Discretionary - 2.2%** | **Consumer Discretionary - 2.2%** |
|  Caesars Entertainment, Inc., 4.63%, 10/15/2029 <sup>(b)(e)</sup> | 2000000 | 1891342 |
|  MajorDrive Holdings IV LLC, 6.38%, 06/01/2029 <sup>(b)</sup> | 2000000 | 1658946 |
|  Merlin Entertainments Group US Holdings, Inc., 7.38%, 02/15/2031 <sup>(b)</sup> | 2000000 | 1747903 |
|  New Red Finance, Inc., 4.00%, 10/15/2030 <sup>(b)</sup> | 2000000 | 1855404 |
|  Rivian Holdings LLC/Rivian LLC/Rivian Automotive LLC, 10.00%, 01/15/2031 <sup>(b)</sup> | 3000000 | 2863453 |
|  SeaWorld Parks & Entertainment, Inc., 5.25%, 08/15/2029 <sup>(b)(e)</sup> | 2000000 | 1948942 |
|  |  | 11965990 |
| **Energy - 1.1%** | **Energy - 1.1%** | **Energy - 1.1%** |
|  Antero Midstream Partners LP / Antero Midstream Finance Corp., 5.38%, 06/15/2029 <sup>(b)</sup> | 2000000 | 1984533 |
|  Enerflex Ltd., 9.00%, 10/15/2027 <sup>(b)</sup> | 1800000 | 1860105 |
|  Energy Transfer LP, 7.13% to 10/01/2029 then 5 yr. CMT Rate + 2.83%, 10/01/2054 <sup>(e)</sup> | 2000000 | 2053118 |
|  |  | 5897756 |
| **Financials - 1.3%** | **Financials - 1.3%** | **Financials - 1.3%** |
|  Barclays PLC, 7.63% to 09/15/2035 then USISSO05 + 3.69%, Perpetual | 3000000 | 3075192 |
|  Boost Newco Borrower LLC, 7.50%, 01/15/2031 <sup>(b)</sup> | 1000000 | 1058094 |
|  UBS Group AG, 7.13% to 02/10/2035 then USISSO05 + 3.18%, Perpetual <sup>(b)</sup> | 3000000 | 3046002 |
|  |  | 7179288 |
| **Health Care - 0.3%** | **Health Care - 0.3%** | **Health Care - 0.3%** |
|  Medline Borrower LP, 3.88%, 04/01/2029 <sup>(b)</sup> | 1500000 | 1431496 |
| **Industrials - 0.8%** | **Industrials - 0.8%** | **Industrials - 0.8%** |
|  BWX Technologies, Inc., 4.13%, 04/15/2029 <sup>(b)</sup> | 2000000 | 1921574 |
|  Oregon Tool Lux LP, 7.88%, 10/15/2029 <sup>(b)</sup> | 397800 | 230724 |
|  SPX FLOW, Inc., 8.75%, 04/01/2030 <sup>(b)</sup> | 2000000 | 2067492 |
|  |  | 4219790 |
| **Information Technology - 0.3%** | **Information Technology - 0.3%** | **Information Technology - 0.3%** |
|  UKG, Inc., 6.88%, 02/01/2031 <sup>(b)</sup> | 1500000 | 1540939 |
| **Materials - 0.5%** | **Materials - 0.5%** | **Materials - 0.5%** |
|  Olympus Water US Holding Corp., 7.25%, 06/15/2031 <sup>(b)</sup> | 2000000 | 2044280 |
|  Standard Industries, Inc., 4.75%, 01/15/2028 <sup>(b)</sup> | 500000 | 493635 |
|  |  | 2537915 |
| **Utilities - 1.4%** | **Utilities - 1.4%** | **Utilities - 1.4%** |
|  Calpine Corp., 5.13%, 03/15/2028 <sup>(b)</sup> | 2000000 | 1990534 |
|  NextEra Energy Operating Partners LP, 7.25%, 01/15/2029 <sup>(b)</sup> | 2000000 | 2041307 |
|  NRG Energy, Inc., 3.63%, 02/15/2031 <sup>(b)</sup> | 1500000 | 1374142 |
|  Vistra Operations Co. LLC, 4.38%, 05/01/2029 <sup>(b)</sup> | 2000000 | 1939198 |
|  |  | 7345181 |
| **TOTAL CORPORATE BONDS** (Cost $42,099,671) | **TOTAL CORPORATE BONDS** (Cost $42,099,671) | 42118355 |
| **EXCHANGE TRADED FUNDS - 1.5%** | **Shares** | **Value** |
| iShares 0-5 Year High Yield Corporate Bond ETF | 46980 | 2022019 |
| iShares Trust-iShares iBoxx $ High Yield Corporate Bond ETF<sup>(e)</sup> | 27002 | 2170421 |
| SPDR Bloomberg High Yield Bond ETF<sup>(e)</sup> | 22196 | 2150570 |
| SPDR Bloomberg Short Term High Yield Bond ETF<sup>(e)</sup> | 79365 | 2018252 |
| **TOTAL EXCHANGE TRADED FUNDS** (Cost $8,204,260) | **TOTAL EXCHANGE TRADED FUNDS** (Cost $8,204,260) | 8361262 |
| **CLOSED-END FUNDS - 0.0%<sup>(f)</sup>** | **Shares** | **Value** |
| Eagle Point Credit Co., Inc. | 1905 | 13107 |
| **TOTAL CLOSED-END FUNDS** (Cost $33,494) | **TOTAL CLOSED-END FUNDS** (Cost $33,494) | 13107 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 1.5%** | **Units** | **Value** |
| Mount Vernon Liquid Assets Portfolio, LLC, 4.58%<sup>(g)</sup> | 8183734 | 8183734 |
| **TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING** (Cost $8,183,734) | **TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING** (Cost $8,183,734) | 8183734 |
| **U.S. TREASURY BILLS - 0.8%** | **Par** | **Value** |
| 4.25%, 08/05/2025 <sup>(h)</sup> | $4000000 | 3998107 |
| **TOTAL U.S. TREASURY BILLS** (Cost $3,998,118) | **TOTAL U.S. TREASURY BILLS** (Cost $3,998,118) | 3998107 |
| **TOTAL INVESTMENTS - 100.1% (**Cost $532,932,003**)** | **TOTAL INVESTMENTS - 100.1% (**Cost $532,932,003**)** | 534496459 |
| Liabilities in Excess of Other Assets - (0.1)% | Liabilities in Excess of Other Assets - (0.1)% | (796188) |
| **TOTAL NET ASSETS - 100.0%** |  | $533700271 |
| two | two | –% |
| Par amount is in USD unless otherwise indicated. | Par amount is in USD unless otherwise indicated. |  |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |
| The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. |

---

---

| |
|:---|
| CMT - Constant Maturity Treasury |
| LLC - Limited Liability Company |
| LP - Limited Partnership |
| PLC - Public Limited Company |
| SOFR - Secured Overnight Financing Rate |
| USISSO05- 5 Year US Dollar SOFR Swap Rate |

---

(a) As of July 31, 2025, the Fund had entered into the following commitments to fund various revolving and delayed draw senior secured and subordinated loans. Such commitments are subject to the satisfaction of certain conditions set forth in the documents governing these loans and there can be no assurance that such conditions will be satisfied. All values are reflected at par. 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Company**  | Investment Type | **Total revolving and delayed draw loan commitments**  | Less: funded commitments | Total unfunded commitments |
| Savor Acquisition, Inc. <br>| First Lien <br>| $431035 | $0 | $431035 |
|  |  | $431035 | $0 | $431035 |

---

(b) Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified
 institutional investors. As of July 31, 2025, the value of these securities total $223,314,161 or 41.8% of the Fund's net assets.

(c) Coupon rate is variable based on the weighted average coupon of the underlying collateral. To the extent the weighted average coupon of the underlying assets which comprise the collateral
 increases or decreases, the coupon rate of this security will increase or decrease correspondingly. The rate disclosed is as of July 31, 2025.

(d) Zero coupon bonds make no periodic interest payments.

(e) All or a portion of this security is on loan as of July 31, 2025. The fair value of these securities was $8,014,167.

(f) Represents less than 0.05% of net assets.

(g) &nbsp;&nbsp;&nbsp;&nbsp; <br> The rate shown represents the 7-day annualized effective yield as of July 31, 2025.

(h) The rate shown is the annualized effective yield as of July 31, 2025.

------

#### <br>

#### Summary of Fair Value Disclosure as of July 31, 2025 (Unaudited)
Pacer Pacific Asset Floating Rate High Income ETF (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of July 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Bank Loans | $– | $285497778 | $– | $285497778 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Collateralized Loan Obligations | – | 186324116 | – | 186324116 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds | – | 42118355 | – | 42118355 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Exchange Traded Funds | 8361262 | – | – | 8361262 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Closed-End Funds | 13107 | – | – | 13107 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Investments Purchased with Proceeds from Securities Lending<sup>(a)</sup> | – | – | – | 8183734 |
|  &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Bills | – | 3998107 | – | 3998107 |
| Total Investments | $8374369 | $517938356 | $– | $534496459 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

(a) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair
 value amount of $8,183,734 presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Pacer Funds Trust

- **b. Investment Company Act file number:** 811-23024

- **c. CIK number of Registrant:** 0001616668

- **d. LEI of Registrant:** 549300L3D3N0PW0L9M73

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

  - **Street Address 1:** 500 Chesterfield Parkway

  - **City:** Malvern

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19355

  - **Telephone number:** 610-664-8100

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

- **a. Name of Series:** Pacer Pacific Asset Floating Rate High Income ETF

- **b. EDGAR series identifier (if any):** S000073714

- **c. LEI of Series:** 549300JUSNL5A0YJPS02

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

- **a. Date of fiscal year-end:** 2026-04-30

- **b. Date as of which information is reported:** 2025-07-31

**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:** $565809765.48

**Total Liabilities:** $32110943.29

**Net Assets:** $533698822.19

**Delayed Delivery Securities:** $10125000.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 6044.797435000000 | **1-Year:** 22680.496053000000 | **5-Year:** 2502.345940000000 | **10-Year:** 1567.490509000000 | **30-Year:** 0.000000000000

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

- **3-Month:** 128156.343884000000 | **1-Year:** 37443.496979000000 | **5-Year:** 6389.946874000000 | **10-Year:** 2495.857222000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000230803 | 1.79%                | 0.94%                | 0.66%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-6172.03                | $5643151.93                                |
| Month 2  | $26680.34                | $1736085.51                                |
| Month 3  | $156214.61               | $176997.82                                 |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| BWX TECHNOLOGIES INC                      | BWX Technologies Inc                                         | CUSIP: 05605HAC4<br>LEI: 549300NP85N265KWMS58 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1921573.60   | 0.36%             | 2029-04-15      | Fixed         | 4.12%                 | No            | 2                  | On Loan: No      |
| Bowling Green Park CLO LLC                | Bowling Green Park CLO LLC                                   | CUSIP: 102875AJ0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1982712.80   | 0.37%             | 2035-04-18      | Floating      | 8.81%                 | No            | 2                  | On Loan: No      |
| Buttermilk Park CLO Ltd                   | Buttermilk Park CLO Ltd                                      | CUSIP: 124166AY5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2004208.60   | 0.38%             | 2031-10-15      | Floating      | 7.27%                 | No            | 2                  | On Loan: No      |
| CAESARS ENTERTAIN INC                     | Caesars Entertainment Inc                                    | CUSIP: 12768EAG1<br>LEI: 549300FA4CTCW903Y781 | Long             | LON              | CORP              | US        |   1993902 | PA      | $1995357.99   | 0.37%             | 2030-02-06      | Floating      | 6.61%                 | No            | 2                  | On Loan: No      |
| OCP CLO Ltd                               | OCP CLO 2017-14 Ltd                                          | CUSIP: 67097QAN5<br>LEI: 25490025Q5WQX513IQ05 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2006995.80   | 0.38%             | 2037-07-20      | Floating      | 5.70%                 | No            | 2                  | On Loan: No      |
| OHA Credit Partners Ltd                   | OHA Credit Partners XI Ltd                                   | CUSIP: 67109HAL5<br>LEI: 549300OYGEU6QQMCEG78 | Long             | ABS-CBDO         | CORP              | KY        |   1330000 | PA      | $1339148.94   | 0.25%             | 2037-04-20      | Floating      | 10.08%                | No            | 2                  | On Loan: No      |
| OHA Loan Funding Ltd                      | OHA Loan Funding 2016-1 Ltd                                  | CUSIP: 67110VAJ6<br>LEI: 54930016024GMIAF7A82 | Long             | ABS-CBDO         | CORP              | KY        |   1625000 | PA      | $1652807.98   | 0.31%             | 2037-07-20      | Floating      | 10.03%                | No            | 2                  | On Loan: No      |
| OCP CLO Ltd                               | OCP Clo 2019-17 Ltd                                          | CUSIP: 67113LBC9<br>LEI: 2549003HLFPQ7ATPYA23 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1513028.85   | 0.28%             | 2037-07-20      | Floating      | 7.43%                 | No            | 2                  | On Loan: No      |
| Oak Hill Credit                           | OHA Credit Funding 5 Ltd                                     | CUSIP: 67113NAE2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2023420.80   | 0.38%             | 2037-10-18      | Floating      | 9.73%                 | No            | 2                  | On Loan: No      |
| Oak Hill Credit                           | OHA Credit Partners XVI                                      | CUSIP: 67115MAE2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1012511.10   | 0.19%             | 2037-10-18      | Floating      | 9.83%                 | No            | 2                  | On Loan: No      |
| Oak Hill Credit                           | OHA Credit Funding 1 LTD                                     | CUSIP: 67115XAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1021464.00   | 0.19%             | 2037-04-20      | Floating      | 10.83%                | No            | 2                  | On Loan: No      |
| OCP CLO Ltd                               | OCP CLO 2024-37 Ltd                                          | CUSIP: 67120BAA7<br>LEI: 213800VGDQYISNVLCT08 | Long             | ABS-CBDO         | CORP              | JE        |   2090000 | PA      | $2127405.78   | 0.40%             | 2037-10-15      | Floating      | 9.82%                 | No            | 2                  | On Loan: No      |
| Oak Hill Credit                           | OHA Credit Funding 22 Ltd                                    | CUSIP: 67121JAA9<br>LEI: 2549003SYMVHPGWUV286 | Long             | ABS-CBDO         | CORP              | KY        |   1275000 | PA      | $1300908.38   | 0.24%             | 2038-07-20      | Floating      | 9.83%                 | No            | 2                  | On Loan: No      |
| Ocean Trails CLO                          | Ocean Trails Clo XVI Ltd                                     | CUSIP: 674914AA4<br>LEI: 254900R3RT6TSDP3UQ20 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1025971.10   | 0.19%             | 2038-01-20      | Floating      | 11.02%                | No            | 2                  | On Loan: No      |
| OCP CLO Ltd                               | OCP CLO 2025-40 Ltd                                          | CUSIP: 67570GAC7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1000000 | PA      | $881860.20    | 0.17%             | 2038-04-16      | Variable      | 0.00%                 | No            | 2                  | On Loan: No      |
| Octagon Investment Partners 54            | Octagon 54 Ltd                                               | CUSIP: 67577FAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1002723.30   | 0.19%             | 2034-07-15      | Floating      | 5.70%                 | No            | 2                  | On Loan: No      |
| Oak Hill Credit                           | OHA Credit Partners XIV Ltd                                  | CUSIP: 67706YAE1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1175000 | PA      | $1190814.80   | 0.22%             | 2037-07-21      | Floating      | 9.78%                 | No            | 2                  | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                  | Olympus Water US Holding Corp                                | CUSIP: 681639AD2<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2044280.00   | 0.38%             | 2031-06-15      | Fixed         | 7.25%                 | No            | 2                  | On Loan: No      |
| OREGON TOOL LUX LP                        | Oregon Tool Lux LP                                           | CUSIP: 68610BAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    397800 | PA      | $230724.00    | 0.04%             | 2029-10-15      | Fixed         | 7.88%                 | No            | 2                  | On Loan: No      |
| TREASURY BILL                             | United States Treasury Bill                                  | CUSIP: 912797QH3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4000000 | PA      | $3998107.24   | 0.75%             | 2025-08-05      | Fixed         | 0.00%                 | No            | 2                  | On Loan: No      |
| TRAVERSE MIDSTREAM PARTN                  | Traverse Midstream Partners LLC                              | CUSIP: 89435TAB0<br>LEI: 549300DHTM8B2X5QMJ22 | Long             | LON              | CORP              | US        |   2213106 | PA      | $2224171.38   | 0.42%             | 2028-02-16      | Floating      | 7.31%                 | No            | 2                  | On Loan: No      |
| TRANSDIGM INC                             | TransDigm Inc                                                | CUSIP: 89364MCA0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |   3964975 | PA      | $3981171.77   | 0.75%             | 2031-02-28      | Floating      | 6.80%                 | No            | 2                  | On Loan: No      |
| TRANSDIGM INC                             | TransDigm Inc                                                | CUSIP: 89364MCB8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |   1601205 | PA      | $1608778.85   | 0.30%             | 2030-03-22      | Floating      | 7.05%                 | No            | 2                  | On Loan: No      |
| TEMPO ACQUISITION LLC                     | Tempo Acquisition LLC                                        | CUSIP: 88023HAJ9<br>LEI: 549300VV0B2RPMHQGA61 | Long             | LON              | CORP              | US        |   5027078 | PA      | $5019612.95   | 0.94%             | 2028-08-31      | Floating      | 6.11%                 | No            | 2                  | On Loan: No      |
| OREGON TOOL LUX LP                        | Oregon Tool Lux LP                                           | CUSIP: L7266PAE5<br>LEI: N/A                  | Long             | LON              | CORP              | LU        |   3157645 | PA      | $2606051.75   | 0.49%             | 2029-10-15      | Floating      | 8.59%                 | No            | 2                  | On Loan: No      |
| TK ELEVATOR US NEWCO INC                  | TK Elevator US Newco Inc                                     | CUSIP: N/A<br>LEI: 549300C2AFWPAYWS5574       | Long             | LON              | CORP              | US        |   2148084 | PA      | $2162315.00   | 0.41%             | 2030-04-30      | Floating      | 7.20%                 | No            | 2                  | On Loan: No      |
| TK Elevator Midco GMBH                    | TK Elevator Midco GMBH, Senior Secured First Lien Term Loan  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2313303 | PA      | $2328628.93   | 0.44%             | 2030-04-30      | Floating      | 7.20%                 | No            | 2                  | On Loan: No      |
| ARES CLO Ltd                              | Ares XLIII CLO Ltd                                           | CUSIP: 04016PAS7<br>LEI: 549300ECLIGB6OZRBA51 | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $5021488.50   | 0.94%             | 2038-01-15      | Floating      | 5.67%                 | No            | 2                  | On Loan: No      |
| APPLIED SYSTEMS INC                       | Applied Systems Inc                                          | CUSIP: 03827FBD2<br>LEI: 549300NSKGF0SY5SWQ62 | Long             | LON              | CORP              | US        |   3465088 | PA      | $3472069.65   | 0.65%             | 2031-02-24      | Floating      | 6.80%                 | No            | 2                  | On Loan: No      |
| ASSUREDPARTNERS INC                       | AssuredPartners Inc                                          | CUSIP: 04621HAW3<br>LEI: 549300HNDSDQWQ3L2P80 | Long             | LON              | CORP              | US        |   1975000 | PA      | $1981260.75   | 0.37%             | 2031-02-14      | Floating      | 7.86%                 | No            | 2                  | On Loan: No      |
| ASPLUNDH TREE EXPERT LLC                  | Asplundh Tree Expert LLC                                     | CUSIP: 04538FAE9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4948474 | PA      | $4964259.29   | 0.93%             | 2031-05-23      | Floating      | 6.11%                 | No            | 2                  | On Loan: No      |
| Eagle Point Credit Co Inc                 | Eagle Point Credit Co Inc                                    | CUSIP: 269808101<br>LEI: 549300H82HTZTPXB6822 | Long             | EC               | RF                | US        |      1905 | NS      | $13106.40     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Elmwood CLO 25 Ltd                        | Elmwood CLO 25 Ltd                                           | CUSIP: 29001CAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2930000 | PA      | $2962490.77   | 0.56%             | 2037-04-17      | Floating      | 9.57%                 | No            | 2                  | On Loan: No      |
| Elmwood CLO 34 Ltd                        | Elmwood CLO 34 Ltd                                           | CUSIP: 29001NAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2022155.80   | 0.38%             | 2037-10-17      | Floating      | 9.67%                 | No            | 2                  | On Loan: No      |
| UBS GROUP AG                              | UBS Group AG                                                 | CUSIP: 225401BJ6<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   3000000 | PA      | $3046002.00   | 0.57%             | 2034-08-10      | Variable      | 7.12%                 | No            | 2                  | On Loan: No      |
| Elmwood CLO 22 Ltd                        | Elmwood CLO 22 Ltd                                           | CUSIP: 29001YAJ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2500506.75   | 0.47%             | 2038-04-17      | Floating      | 5.52%                 | No            | 2                  | On Loan: No      |
| Elmwood CLO 24 Ltd                        | Elmwood CLO 24 Ltd                                           | CUSIP: 29002NAE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3024764.70   | 0.57%             | 2038-01-17      | Floating      | 9.42%                 | No            | 2                  | On Loan: No      |
| Elmwood CLO V Ltd                         | Elmwood CLO V Ltd                                            | CUSIP: 29003BAW1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3020284.50   | 0.57%             | 2037-10-20      | Floating      | 7.48%                 | No            | 2                  | On Loan: No      |
| Elmwood CLO 17 Ltd                        | Elmwood CLO 17 Ltd                                           | CUSIP: 29003GAE0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1275000 | PA      | $1291646.66   | 0.24%             | 2037-07-17      | Floating      | 10.02%                | No            | 2                  | On Loan: No      |
| CIFC Funding Ltd                          | CIFC Funding 2014-II-R Ltd                                   | CUSIP: 12548RAH7<br>LEI: 549300O8WGQU5B6HEB94 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3010693.50   | 0.56%             | 2037-10-24      | Floating      | 5.68%                 | No            | 2                  | On Loan: No      |
| CIFC Funding Ltd                          | CIFC Funding 2019-VI Ltd                                     | CUSIP: 12555XAN1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2006944.00   | 0.38%             | 2037-07-16      | Floating      | 5.77%                 | No            | 2                  | On Loan: No      |
| NRG ENERGY INC                            | NRG Energy Inc                                               | CUSIP: 629377CR1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1374141.89   | 0.26%             | 2031-02-15      | Fixed         | 3.62%                 | No            | 2                  | On Loan: No      |
| Oak Hill Credit                           | OHA Credit Funding 11 Ltd                                    | CUSIP: 67116BAG0<br>LEI: 2549002MG7GTTY5LHR97 | Long             | ABS-CBDO         | CORP              | BM        |   3000000 | PA      | $3030667.20   | 0.57%             | 2037-07-19      | Floating      | 9.73%                 | No            | 2                  | On Loan: No      |
| NOURYON FINANCE BV                        | Nouryon Finance BV                                           | CUSIP: N8232NAL1<br>LEI: 549300GD4NJGLPVYB245 | Long             | LON              | CORP              | NL        |    921916 | PA      | $923359.28    | 0.17%             | 2028-04-03      | Floating      | 7.51%                 | No            | 2                  | On Loan: No      |
| Elmwood CLO 28 Ltd                        | Elmwood CLO 28 Ltd                                           | CUSIP: 29003PAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1550000 | PA      | $1578772.19   | 0.30%             | 2037-04-17      | Floating      | 10.32%                | No            | 2                  | On Loan: No      |
| Elmwood CLO 23 Ltd                        | Elmwood CLO 23 Ltd                                           | CUSIP: 29004AAG7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2537142.50   | 0.48%             | 2036-04-16      | Floating      | 10.22%                | No            | 2                  | On Loan: No      |
| CIFC Funding Ltd                          | CIFC Funding 2024-I Ltd                                      | CUSIP: 12570YAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1020408.70   | 0.19%             | 2037-04-18      | Floating      | 10.93%                | No            | 2                  | On Loan: No      |
| CAESARS ENTERTAIN INC                     | Caesars Entertainment Inc                                    | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1891342.00   | 0.35%             | 2029-10-15      | Fixed         | 4.62%                 | No            | 2                  | On Loan: —       |
| ENERFLEX LTD                              | Enerflex Ltd                                                 | CUSIP: 29269RAA3<br>LEI: 54930014N7872VUS3F89 | Long             | DBT              | CORP              | CA        |   1800000 | PA      | $1860105.60   | 0.35%             | 2027-10-15      | Fixed         | 9.00%                 | No            | 2                  | On Loan: No      |
| ENERGY TRANSFER LP                        | Energy Transfer LP                                           | CUSIP: 29273VBC3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2053118.00   | 0.38%             | 2054-10-01      | Variable      | 7.12%                 | No            | 2                  | On Loan: —       |
| Aimco                                     | Aimco CLO 11 Ltd                                             | CUSIP: 00140PAJ4<br>LEI: 549300VLRW0CEQ83RF89 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3036313.80   | 0.57%             | 2037-07-17      | Floating      | 9.67%                 | No            | 2                  | On Loan: No      |
| Aimco                                     | Aimco CLO 15 Ltd                                             | CUSIP: 00889CAE9<br>LEI: 254900QER1MDK5C1YE06 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2004054.00   | 0.38%             | 2038-04-17      | Floating      | 8.92%                 | No            | 2                  | On Loan: No      |
| CALPINE CORP                              | Calpine Corp                                                 | CUSIP: 131347CN4<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1990534.20   | 0.37%             | 2028-03-15      | Fixed         | 5.12%                 | No            | 2                  | On Loan: No      |
| Carval CLO LTD                            | CarVal CLO VII-C Ltd                                         | CUSIP: 14686DAE3<br>LEI: 254900KRTGHP264UWC15 | Long             | ABS-CBDO         | CORP              | JE        |   2000000 | PA      | $2019197.60   | 0.38%             | 2037-07-20      | Floating      | 10.68%                | No            | 2                  | On Loan: No      |
| Clover CLO                                | Clover CLO 2018-1 LLC                                        | CUSIP: 18914GAS0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1650000 | PA      | $1682074.52   | 0.32%             | 2037-04-20      | Floating      | 10.73%                | No            | 2                  | On Loan: No      |
| Clover CLO                                | Clover CLO 2021-3 LLC                                        | CUSIP: 18915FAJ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1000000 | PA      | $1001003.70   | 0.19%             | 2035-01-25      | Floating      | 9.22%                 | No            | 2                  | On Loan: No      |
| CIFC Funding Ltd                          | CIFC Funding 2019-VII Ltd                                    | CUSIP: 27581MAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1005966.20   | 0.19%             | 2033-01-20      | Floating      | 12.00%                | No            | 2                  | On Loan: No      |
| Flatiron CLO Ltd                          | Flatiron RR CLO 22 LLC                                       | CUSIP: 33883QAY1<br>LEI: 5493000CIUZPG6SZO932 | Long             | ABS-CBDO         | CORP              | US        |   1200000 | PA      | $1190712.60   | 0.22%             | 2034-10-15      | Floating      | 8.57%                 | No            | 2                  | On Loan: No      |
| Flatiron CLO Ltd                          | Flatiron CLO 20 Ltd                                          | CUSIP: 33883NAE2<br>LEI: 25490077CXFU133A8B24 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1511353.50   | 0.28%             | 2036-05-20      | Floating      | 10.77%                | No            | 2                  | On Loan: No      |
| GoldenTree Loan Management US             | Goldentree Loan Management US CLO 1 Ltd                      | CUSIP: 38136HAN9<br>LEI: 549300BE2068MP2P8N06 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $980629.00    | 0.18%             | 2034-04-20      | Floating      | 12.09%                | No            | 2                  | On Loan: No      |
| Aimco                                     | AIMCO CLO Series 2018-B                                      | CUSIP: 00900KAG1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2031810.60   | 0.38%             | 2037-04-16      | Floating      | 10.62%                | No            | 2                  | On Loan: No      |
| Aimco                                     | AIMCO CLO Series 2015-A                                      | CUSIP: 00900MAL6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2513871.75   | 0.47%             | 2034-10-17      | Floating      | 10.67%                | No            | 2                  | On Loan: No      |
| Flatiron CLO Ltd                          | Flatiron CLO 32 Ltd                                          | CUSIP: 33883VAA2<br>LEI: 254900C27X485MIHBY47 | Long             | ABS-CBDO         | CORP              | KY        |   1825000 | PA      | $1829562.50   | 0.34%             | 2038-10-22      | Floating      | 9.11%                 | No            | 2                  | On Loan: No      |
| Flatiron CLO Ltd                          | Flatiron CLO 32 Ltd                                          | CUSIP: 33883VAC8<br>LEI: 254900C27X485MIHBY47 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $848700.00    | 0.16%             | 2038-10-22      | Variable      | 0.00%                 | No            | 2                  | On Loan: No      |
| Aimco                                     | AIMCO CLO 10 Ltd                                             | CUSIP: 00900UAG9<br>LEI: 5493004I93856WYBB035 | Long             | ABS-CBDO         | CORP              | KY        |    825000 | PA      | $838658.45    | 0.16%             | 2037-07-22      | Floating      | 9.98%                 | No            | 2                  | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                  | Antero Midstream Partners LP / Antero Midstream Finance Corp | CUSIP: 03690AAH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1984532.80   | 0.37%             | 2029-06-15      | Fixed         | 5.38%                 | No            | 2                  | On Loan: No      |
| Invesco U.S. CLO 2025-2, Ltd.             | Invesco US CLO 2023-1 Ltd                                    | CUSIP: 46146KAJ2<br>LEI: 54930008KXQ75MGXPQ71 | Long             | ABS-CBDO         | CORP              | JE        |   1180000 | PA      | $1203453.09   | 0.23%             | 2037-04-22      | Floating      | 11.23%                | No            | 2                  | On Loan: No      |
| iShares iBoxx $ High Yield Cor            | iShares iBoxx $ High Yield Corporate Bond ETF                | CUSIP: 464288513<br>LEI: 549300FCCXHK7O37PQ68 | Long             | EC               | RF                | US        |     27002 | NS      | $2170420.76   | 0.41%             |  |  |  | No            | 1                  | On Loan: —       |
| BARCLAYS PLC                              | Barclays PLC                                                 | CUSIP: 06738EDC6<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   3000000 | PA      | $3075192.00   | 0.58%             | 2035-03-15      | Variable      | 7.62%                 | No            | 2                  | On Loan: No      |
| Barrow Hanley CLO LTD                     | Barrow Hanley CLO II Ltd                                     | CUSIP: 06875TAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $503984.75    | 0.09%             | 2035-10-20      | Floating      | 9.43%                 | No            | 2                  | On Loan: No      |
| Beechwood Park CLO Ltd.                   | Beechwood Park CLO Ltd                                       | CUSIP: 07355VAL1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1008178.10   | 0.19%             | 2035-01-17      | Floating      | 10.82%                | No            | 2                  | On Loan: No      |
| Benefit Street Partners CLO Lt            | Benefit Street Partners CLO XXIV Ltd                         | CUSIP: 08182PAE7<br>LEI: 254900F6RDYGOMBGPF86 | Long             | ABS-CBDO         | CORP              | KY        |   1625000 | PA      | $1623912.06   | 0.30%             | 2034-10-20      | Floating      | 8.93%                 | No            | 2                  | On Loan: No      |
| CORELOGIC INC                             | CoreLogic Inc                                                | CUSIP: 21870FBA6<br>LEI: 54930086CD8K2UIL0516 | Long             | LON              | CORP              | US        |   4936001 | PA      | $4930620.76   | 0.92%             | 2028-06-02      | Floating      | 7.97%                 | No            | 2                  | On Loan: No      |
| CHARIOT BUYER LLC                         | Chariot Buyer LLC                                            | CUSIP: 15963CAC0<br>LEI: 25490092IFNOZBRVE539 | Long             | LON              | CORP              | US        |   4959092 | PA      | $4967224.91   | 0.93%             | 2028-11-03      | Floating      | 7.71%                 | No            | 2                  | On Loan: No      |
| 1011778 BC / NEW RED FIN                  | 1011778 BC ULC / New Red Finance Inc                         | CUSIP: 68245XAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   2000000 | PA      | $1855403.80   | 0.35%             | 2030-10-15      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| ALLIED UNIVERSAL HOLDCO                   | Allied Universal Holdco LLC                                  | CUSIP: 01957TAH0<br>LEI: 98450038B4549046D794 | Long             | LON              | CORP              | US        |   4933927 | PA      | $4950233.15   | 0.93%             | 2028-05-15      | Floating      | 8.21%                 | No            | 2                  | On Loan: No      |
| GoldenTree Loan Management US             | Goldentree Loan Management US Clo 6 Ltd                      | CUSIP: 38137XAL7<br>LEI: 549300MI5PVR6JHGVV87 | Long             | ABS-CBDO         | CORP              | KY        |   1575000 | PA      | $1557164.86   | 0.29%             | 2035-04-20      | Floating      | 8.83%                 | No            | 2                  | On Loan: No      |
| GoldenTree Loan Management US             | Goldentree Loan Management US Clo 12 Ltd                     | CUSIP: 38138YAG5<br>LEI: 549300KUSTD1I13BZ897 | Long             | ABS-CBDO         | CORP              | JE        |   1000000 | PA      | $1004252.80   | 0.19%             | 2037-07-20      | Floating      | 10.03%                | No            | 2                  | On Loan: No      |
| Benefit Street Partners CLO Lt            | Benefit Street Partners CLO XXIX Ltd                         | CUSIP: 08186FAE5<br>LEI: 549300DICNUWMUKL3816 | Long             | ABS-CBDO         | CORP              | JE        |   1000000 | PA      | $1001351.60   | 0.19%             | 2038-01-25      | Floating      | 8.92%                 | No            | 2                  | On Loan: No      |
| ATHENAHEALTH GROUP INC                    | AthenaHealth Group Inc                                       | CUSIP: 04686RAB9<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | LON              | CORP              | US        |   4779613 | PA      | $4781763.53   | 0.90%             | 2029-02-15      | Floating      | 7.11%                 | No            | 2                  | On Loan: No      |
| 1011778 BC ULC                            | 1011778 BC ULC                                               | CUSIP: C6901LAM9<br>LEI: 549300RHSHNRWI5LLA86 | Long             | LON              | CORP              | CA        |   5265760 | PA      | $5260415.23   | 0.99%             | 2030-09-23      | Floating      | 6.08%                 | No            | 2                  | On Loan: No      |
| ACRISURE LLC                              | Acrisure LLC                                                 | CUSIP: 00488PAV7<br>LEI: 549300R0Z1Q47XRTGO22 | Long             | LON              | CORP              | US        |   4228141 | PA      | $4234081.13   | 0.79%             | 2030-11-06      | Floating      | 7.36%                 | No            | 2                  | On Loan: No      |
| GoldenTree Loan Management US             | GoldenTree Loan Management US CLO 25 Ltd                     | CUSIP: 38139YAA7<br>LEI: 254900NWYEI4MM854T50 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2038365.00   | 0.38%             | 2038-04-20      | Floating      | 10.07%                | No            | 2                  | On Loan: No      |
| Golub Capital Partners CLO, LT            | Golub Capital Partners CLO 66B Ltd                           | CUSIP: 38181AAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   4000000 | PA      | $4022234.80   | 0.75%             | 2038-07-25      | Floating      | 5.77%                 | No            | 2                  | On Loan: No      |
| iShares 0-5 Year High Yield Co            | iShares 0-5 Year High Yield Corporate Bond ETF               | CUSIP: 46434V407<br>LEI: 549300R96U5WQ7R5ID10 | Long             | EC               | RF                | US        |     46980 | NS      | $2022019.20   | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Juniper Valley Park CLO, Ltd              | Juniper Valley Park CLO Ltd                                  | CUSIP: 48206RAE1<br>LEI: 213800ACSV8GAJ4CCO70 | Long             | ABS-CBDO         | CORP              | JE        |   2550000 | PA      | $2574006.72   | 0.48%             | 2036-07-20      | Floating      | 9.83%                 | No            | 2                  | On Loan: No      |
| APPLE BIDCO LLC                           | Apple Bidco LLC                                              | CUSIP: 48254EAG6<br>LEI: 2549001SCJD3WEYJFM53 | Long             | LON              | CORP              | US        |   4954975 | PA      | $4974398.45   | 0.93%             | 2031-09-23      | Floating      | 6.86%                 | No            | 2                  | On Loan: No      |
| Greenacre Park CLO LLC                    | Greenacre Park CLO LLC                                       | CUSIP: 39355WAN8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    700000 | PA      | $713719.51    | 0.13%             | 2038-07-20      | Floating      | 10.32%                | No            | 2                  | On Loan: No      |
| Harbor Park CLO Ltd                       | Harbor Park CLO 18-1 Ltd                                     | CUSIP: 41154YAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1001996.70   | 0.19%             | 2031-01-20      | Floating      | 10.19%                | No            | 2                  | On Loan: No      |
| CAESARS ENTERTAIN INC                     | Caesars Entertainment Inc                                    | CUSIP: 12768EAH9<br>LEI: 549300FA4CTCW903Y781 | Long             | LON              | CORP              | US        |   2972387 | PA      | $2972758.68   | 0.56%             | 2031-02-06      | Floating      | 6.61%                 | No            | 2                  | On Loan: No      |
| HUSKY INJECTION MOLDING                   | Husky Injection Molding Systems Ltd                          | CUSIP: C8856UAE8<br>LEI: 5493003ZDHRVP2N4C109 | Long             | LON              | CORP              | CA        |   2099097 | PA      | $2102098.68   | 0.39%             | 2029-02-15      | Floating      | 8.80%                 | No            | 2                  | On Loan: No      |
| AVOLON TLB BORROWER 1 US                  | Avolon TLB Borrower 1 US LLC                                 | CUSIP: 05400KAJ9<br>LEI: 635400O84AGITYFZQB55 | Long             | LON              | CORP              | US        |   3123362 | PA      | $3128328.18   | 0.59%             | 2030-06-24      | Floating      | 6.10%                 | No            | 2                  | On Loan: No      |
| BAUSCH + LOMB CORP                        | Bausch + Lomb Corp                                           | CUSIP: C0787FAF9<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |   4001356 | PA      | $4008038.41   | 0.75%             | 2028-09-29      | Floating      | 8.36%                 | No            | 2                  | On Loan: No      |
| Magnetite CLO Ltd                         | Magnetite XXXVII Ltd                                         | CUSIP: 55952AAG4<br>LEI: 529900QDM2RO966NLE49 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2026604.80   | 0.38%             | 2036-10-20      | Floating      | 8.33%                 | No            | 2                  | On Loan: No      |
| Magnetite CLO Ltd                         | Magnetite XXXI Ltd                                           | CUSIP: 55952GAA4<br>LEI: 549300J3BCFSIZAJJW77 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003390.10   | 0.19%             | 2034-07-15      | Floating      | 10.58%                | No            | 2                  | On Loan: No      |
| BCPE PEQUOD BUYER INC                     | BCPE Pequod Buyer Inc                                        | CUSIP: 05624AAB8<br>LEI: 254900HEEOS2IWC84V94 | Long             | LON              | CORP              | US        |   4992500 | PA      | $5008101.56   | 0.94%             | 2031-11-25      | Floating      | 7.36%                 | No            | 2                  | On Loan: No      |
| BAUSCH + LOMB CORP                        | Bausch + Lomb Corp                                           | CUSIP: N/A<br>LEI: 549300NY6OZM39SO6475       | Long             | LON              | CORP              | CA        |    859294 | PA      | $864020.31    | 0.16%             | 2031-01-15      | Floating      | 8.61%                 | No            | 2                  | On Loan: No      |
| HUSKY INJECTION MOLDING                   | Husky Injection Molding Systems Ltd                          | CUSIP: C8856UAE8<br>LEI: 5493003ZDHRVP2N4C109 | Long             | LON              | CORP              | CA        |   2099097 | PA      | $2102098.68   | 0.39%             | 2029-02-15      | Floating      | 8.67%                 | No            | 2                  | On Loan: No      |
| CENTRAL PARENT LLC                        | Central Parent LLC                                           | CUSIP: 15477BAE7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3970006 | PA      | $3245480.11   | 0.61%             | 2029-07-06      | Floating      | 7.55%                 | No            | 2                  | On Loan: No      |
| MERLIN ENTERTAINMENTS GR                  | Merlin Entertainments Group US Holdings Inc                  | CUSIP: 59010UAA5<br>LEI: 549300HBQPPKS1187K54 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1747902.80   | 0.33%             | 2031-02-15      | Fixed         | 7.38%                 | No            | 2                  | On Loan: No      |
| Neuberger Berman CLO Ltd                  | Neuberger Berman Loan Advisers CLO 34 Ltd                    | CUSIP: 64132PAN1<br>LEI: 5493009EGZQAPYYVLD80 | Long             | ABS-CBDO         | CORP              | KY        |   2125000 | PA      | $2135920.38   | 0.40%             | 2039-07-20      | Floating      | 0.00%                 | No            | 2                  | On Loan: No      |
| CHART INDUSTRIES INC                      | Chart Industries Inc                                         | CUSIP: 16115EAT4<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | LON              | CORP              | US        |   4061329 | PA      | $4084174.18   | 0.77%             | 2030-03-18      | Floating      | 6.79%                 | No            | 2                  | On Loan: No      |
| HYPERION REFINANCE SARL                   | Hyperion Refinance Sarl                                      | CUSIP: G4712JAZ5<br>LEI: 213800R6D9EVRN5D3117 | Long             | LON              | CORP              | LU        |   4974937 | PA      | $4988693.04   | 0.93%             | 2031-02-18      | Floating      | 7.36%                 | No            | 2                  | On Loan: No      |
| CQP HOLDCO LP                             | CQP Holdco LP                                                | CUSIP: 12657QAE3<br>LEI: 549300LPL012JY5D4B69 | Long             | LON              | CORP              | US        |   5140914 | PA      | $5152506.40   | 0.97%             | 2030-12-31      | Floating      | 6.30%                 | No            | 2                  | On Loan: No      |
| INDICOR LLC                               | Indicor LLC                                                  | CUSIP: 77669LAK9<br>LEI: 254900RXO1EICEHOLG29 | Long             | LON              | CORP              | US        |   3951453 | PA      | $3963188.57   | 0.74%             | 2029-11-23      | Floating      | 7.05%                 | No            | 2                  | On Loan: No      |
| CORE & MAIN LP                            | Core & Main LP                                               | CUSIP: 40416VAH8<br>LEI: 549300ZSLF8Q660SCD17 | Long             | LON              | CORP              | US        |   3455131 | PA      | $3470247.50   | 0.65%             | 2031-02-10      | Floating      | 6.27%                 | No            | 2                  | On Loan: No      |
| Flatiron CLO Ltd                          | Flatiron CLO 21 Ltd                                          | CUSIP: 33883TAE9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1250000 | PA      | $1264289.00   | 0.24%             | 2037-10-19      | Floating      | 10.23%                | No            | 2                  | On Loan: No      |
| Galaxy CLO Ltd                            | Galaxy 34 Clo Ltd                                            | CUSIP: 36322BAA8<br>LEI: 3912002JK68FWHXUMG23 | Long             | ABS-CBDO         | CORP              | KY        |   1875000 | PA      | $1908037.13   | 0.36%             | 2037-10-20      | Floating      | 10.23%                | No            | 2                  | On Loan: No      |
| MEDLINE BORROWER LP                       | Medline Borrower LP                                          | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1431496.29   | 0.27%             | 2029-04-01      | Fixed         | 3.88%                 | No            | 2                  | On Loan: No      |
| Neuberger Berman CLO Ltd                  | Neuberger Berman Loan Advisers CLO 34 Ltd                    | CUSIP: 64132YBE1<br>LEI: 5493009EGZQAPYYVLD80 | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $5004295.00   | 0.94%             | 2039-07-20      | Floating      | 0.00%                 | No            | 2                  | On Loan: No      |
| Neuberger Berman CLO Ltd                  | Neuberger Berman Loan Advisers Clo 42 Ltd                    | CUSIP: 64133XAL7<br>LEI: 549300LGCRX4YI1JNS93 | Long             | ABS-CBDO         | CORP              | KY        |   1050000 | PA      | $1046336.03   | 0.20%             | 2036-07-16      | Floating      | 8.92%                 | No            | 2                  | On Loan: No      |
| Neuberger Berman CLO Ltd                  | Neuberger Berman Loan Advisers CLO 41 Ltd                    | CUSIP: 64134CAA6<br>LEI: 549300RYH1PYRU661D66 | Long             | ABS-CBDO         | CORP              | KY        |   1200000 | PA      | $1203822.60   | 0.23%             | 2034-04-15      | Floating      | 11.08%                | No            | 2                  | On Loan: No      |
| Neuberger Berman CLO Ltd                  | Neuberger Berman Loan Advisers Clo 43 Ltd                    | CUSIP: 64134DAL0<br>LEI: 549300N83MM16HCONB28 | Long             | ABS-CBDO         | CORP              | KY        |   1670000 | PA      | $1661988.01   | 0.31%             | 2036-07-17      | Floating      | 8.92%                 | No            | 2                  | On Loan: No      |
| Neuberger Berman CLO Ltd                  | Neuberger Berman Loan Advisers Clo 44 Ltd                    | CUSIP: 64134EAL8<br>LEI: 549300HMTDFWN3B2DI35 | Long             | ABS-CBDO         | CORP              | KY        |   2400000 | PA      | $2422014.72   | 0.45%             | 2035-10-16      | Floating      | 9.47%                 | No            | 2                  | On Loan: No      |
| Neuberger Berman CLO Ltd                  | Neuberger Berman Loan Advisers Clo 50 Ltd                    | CUSIP: 64134WAL8<br>LEI: 549300UMYON6L2REF246 | Long             | ABS-CBDO         | CORP              | JE        |   3000000 | PA      | $3024821.40   | 0.57%             | 2036-07-23      | Floating      | 9.82%                 | No            | 2                  | On Loan: No      |
| Neuberger Berman CLO Ltd                  | Neuberger Berman Loan Advisers CLO 48 Ltd                    | CUSIP: 64135HAA4<br>LEI: 549300FC7JRIZ6YLHK36 | Long             | ABS-CBDO         | CORP              | JE        |   1500000 | PA      | $1507017.60   | 0.28%             | 2036-04-25      | Floating      | 10.82%                | No            | 2                  | On Loan: No      |
| Neuberger Berman CLO Ltd                  | Neuberger Berman Loan Advisers CLO 49 Ltd                    | CUSIP: 64135KAE9<br>LEI: 549300IN02DS1MN5HW62 | Long             | ABS-CBDO         | CORP              | JE        |   2875000 | PA      | $2886824.88   | 0.54%             | 2035-07-25      | Floating      | 9.82%                 | No            | 2                  | On Loan: No      |
| XPLR INFRAST OPERATING                    | XPLR Infrastructure Operating Partners LP                    | CUSIP: 65342QAM4<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2041307.32   | 0.38%             | 2029-01-15      | Fixed         | 7.25%                 | No            | 2                  | On Loan: No      |
| Palmer Square Loan Funding Ltd            | Palmer Square Loan Funding 2024-3 Ltd                        | CUSIP: 69690RAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003754.40   | 0.19%             | 2032-08-08      | Floating      | 9.71%                 | No            | 2                  | On Loan: No      |
| Palmer Square Loan Funding Ltd            | Palmer Square Loan Funding 2022-4 Ltd                        | CUSIP: 69702XAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003670.60   | 0.19%             | 2031-07-24      | Floating      | 9.07%                 | No            | 2                  | On Loan: No      |
| Palmer Square Loan Funding Ltd            | Palmer Square Loan Funding 2024-2 Ltd                        | CUSIP: 69703HAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1002288.70   | 0.19%             | 2033-01-15      | Floating      | 9.02%                 | No            | 2                  | On Loan: No      |
| Neuberger Berman CLO Ltd                  | Neuberger Berman Loan Advisers Clo 56 Ltd                    | CUSIP: 64135UAA5<br>LEI: 2549001742TZTUKJHB13 | Long             | ABS-CBDO         | CORP              | KY        |   1275000 | PA      | $1298857.04   | 0.24%             | 2037-07-24      | Floating      | 10.07%                | No            | 2                  | On Loan: No      |
| Trimaran CAVU Ltd                         | Trimaran Cavu 2021-3 Ltd                                     | CUSIP: 89624HAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1925000 | PA      | $1933023.98   | 0.36%             | 2035-01-18      | Floating      | 11.96%                | No            | 2                  | On Loan: No      |
| Parallel Ltd                              | Parallel 2020-1 Ltd                                          | CUSIP: 69917AAL8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2002559.20   | 0.38%             | 2034-07-20      | Floating      | 5.81%                 | No            | 2                  | On Loan: No      |
| Pikes Peak CLO                            | Pikes Peak CLO 6                                             | CUSIP: 72133BAC8<br>LEI: 635400BKNXKWEO3G2J74 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $2959534.80   | 0.55%             | 2034-05-18      | Floating      | 8.92%                 | No            | 2                  | On Loan: No      |
| Point Au Roche Park CLO, Ltd              | Point Au Roche Park CLO Ltd                                  | CUSIP: 73052WAA1<br>LEI: 5493000RMLD359CPH591 | Long             | ABS-CBDO         | CORP              | KY        |    370000 | PA      | $371481.55    | 0.07%             | 2034-07-20      | Floating      | 10.69%                | No            | 2                  | On Loan: No      |
| RR Ltd                                    | RR 8 Ltd                                                     | CUSIP: 74980GAJ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003530.90   | 0.19%             | 2037-07-15      | Floating      | 10.57%                | No            | 2                  | On Loan: No      |
| Rad CLO Ltd                               | Rad Clo 25 Ltd                                               | CUSIP: 75009GAJ6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | BM        |   2500000 | PA      | $2520487.00   | 0.47%             | 2037-07-20      | Floating      | 7.48%                 | No            | 2                  | On Loan: No      |
| Rad CLO 12 Ltd                            | Rad CLO 12 Ltd                                               | CUSIP: 75009PAJ6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $5004295.00   | 0.94%             | 2040-07-30      | Floating      | 5.63%                 | No            | 2                  | On Loan: No      |
| SPX FLOW INC                              | SPX FLOW Inc                                                 | CUSIP: 758071AA2<br>LEI: 5493003YXEKRBINIEM78 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2067492.00   | 0.39%             | 2030-04-01      | Fixed         | 8.75%                 | No            | 2                  | On Loan: No      |
| RIVIAN HLD/AUTO LLC                       | Rivian Holdings LLC/Rivian LLC/Rivian Automotive LLC         | CUSIP: 76954LAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2863453.20   | 0.54%             | 2031-01-15      | Fixed         | 10.00%                | No            | 2                  | On Loan: No      |
| Magnetite CLO Ltd                         | Magnetite Xxx Ltd                                            | CUSIP: 55953VAE2<br>LEI: 549300RI4HRUG7CFWM27 | Long             | ABS-CBDO         | CORP              | KY        |   1475000 | PA      | $1491567.20   | 0.28%             | 2037-10-25      | Floating      | 9.67%                 | No            | 2                  | On Loan: No      |
| Magnetite CLO Ltd                         | Magnetite XXII Ltd                                           | CUSIP: 55954DAG6<br>LEI: 5493000081NBXWGGSW23 | Long             | ABS-CBDO         | CORP              | KY        |   1900000 | PA      | $1917856.58   | 0.36%             | 2036-07-15      | Floating      | 9.72%                 | No            | 2                  | On Loan: No      |
| Magnetite CLO Ltd                         | Magnetite XVII Ltd                                           | CUSIP: 55954EBE8<br>LEI: 5493003SVWF9GG13MZ22 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3013917.90   | 0.56%             | 2037-04-20      | Floating      | 7.83%                 | No            | 2                  | On Loan: No      |
| Magnetite CLO Ltd                         | Magnetite XXVI Ltd                                           | CUSIP: 55954YAW5<br>LEI: 549300F7COUCG1RROP29 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $2997750.00   | 0.56%             | 2038-01-25      | Floating      | 5.47%                 | No            | 2                  | On Loan: No      |
| SPDR Bloomberg Short Term High            | SPDR Bloomberg Short Term High Yield Bond ETF                | CUSIP: 78468R408<br>LEI: 549300YI2V5ELVW58659 | Long             | EC               | RF                | US        |     79365 | NS      | $2018251.95   | 0.38%             |  |  |  | No            | 1                  | On Loan: —       |
| SPDR Bloomberg High Yield Bond            | SPDR Bloomberg High Yield Bond ETF                           | CUSIP: 78468R622<br>LEI: 549300NCLW2248PN7J24 | Long             | EC               | RF                | US        |     22196 | NS      | $2150570.44   | 0.40%             |  |  |  | No            | 1                  | On Loan: —       |
| Magnetite CLO Ltd                         | Magnetite XXVI Ltd                                           | CUSIP: 55955CAG7<br>LEI: 549300F7COUCG1RROP29 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3010213.20   | 0.56%             | 2038-01-25      | Floating      | 9.02%                 | No            | 2                  | On Loan: No      |
| Magnetite CLO Ltd                         | Magnetite XXIX Ltd                                           | CUSIP: 55955JAE7<br>LEI: 549300XSCWZTP19VRZ67 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1015477.50   | 0.19%             | 2037-07-15      | Floating      | 10.32%                | No            | 2                  | On Loan: No      |
| U.S. Bank Money Market Deposit Account    | U.S. Bank Money Market Deposit Account                       | CUSIP: 8AMMF0A84<br>LEI: N/A                  | Long             | STIV             | RF                | US        |  26576010 | NS      | $26576010.02  | 4.98%             |  |  |  | No            | 1                  | On Loan: No      |
| Mount Vernon Liquid Assets Portfolio, LLC | Mount Vernon Liquid Assets Portfolio, LLC                    | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |   8183734 | NS      | $8183733.88   | 1.53%             |  |  |  | No            | N/A                | On Loan: No      |
| FERTITTA ENTERTAINMENT L                  | Fertitta Entertainment LLC/NV                                | CUSIP: 31556PAB3<br>LEI: 984500A0805D8V551D35 | Long             | LON              | CORP              | US        |   4974293 | PA      | $4984117.29   | 0.93%             | 2029-01-29      | Floating      | 7.60%                 | No            | 2                  | On Loan: No      |
| SBA SENIOR FINANCE II LLC                 | SBA Senior Finance II LLC                                    | CUSIP: 78404XAJ4<br>LEI: 549300PVT2ADFWMYEW87 | Long             | LON              | CORP              | US        |   2908335 | PA      | $2921436.99   | 0.55%             | 2031-01-27      | Floating      | 6.11%                 | No            | 2                  | On Loan: No      |
| Magnetite CLO Ltd                         | Magnetite XL Ltd                                             | CUSIP: 55955VAA8<br>LEI: 5299008V4F49IY3SSP69 | Long             | ABS-CBDO         | CORP              | KY        |   1125000 | PA      | $1142465.85   | 0.21%             | 2037-07-15      | Floating      | 10.07%                | No            | 2                  | On Loan: No      |
| Magnetite CLO Ltd                         | Magnetite XLVIII Ltd                                         | CUSIP: 55956FAA2<br>LEI: 529900GIGHYFX3L5AN76 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3015417.00   | 0.57%             | 2038-10-15      | Floating      | 0.00%                 | No            | 2                  | On Loan: No      |
| MOTION FINCO SARL                         | Motion Finco Sarl                                            | CUSIP: N/A<br>LEI: 2549002L1LBQZKA7UN30       | Long             | LON              | CORP              | LU        |   4970069 | PA      | $4582229.38   | 0.86%             | 2029-11-30      | Floating      | 7.80%                 | No            | 2                  | On Loan: No      |
| UKG INC                                   | UKG Inc                                                      | CUSIP: 89841EAB1<br>LEI: 529900FKHWSTQ1GXK240 | Long             | LON              | CORP              | US        |   3945000 | PA      | $3949063.35   | 0.74%             | 2031-02-10      | Floating      | 6.82%                 | No            | 2                  | On Loan: No      |
| MAJORDRIVE HOLDINGS IV L                  | MajorDrive Holdings IV LLC                                   | CUSIP: 56085RAA8<br>LEI: 25490044R1FR5N8FIT62 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1658946.00   | 0.31%             | 2029-06-01      | Fixed         | 6.38%                 | No            | 2                  | On Loan: No      |
| ELANCO ANIMAL HEALTH INC                  | Elanco Animal Health Inc                                     | CUSIP: 28414BAF3<br>LEI: 549300SHPNDCE059M934 | Long             | LON              | CORP              | US        |    868043 | PA      | $868229.65    | 0.16%             | 2027-08-02      | Floating      | 6.18%                 | No            | 2                  | On Loan: No      |
| EPICOR SOFTWARE CORP                      | Epicor Software Corp                                         | CUSIP: 29426NAZ7<br>LEI: JGNXVGGGXR4O1L5I7S73 | Long             | LON              | CORP              | US        |   4402383 | PA      | $4415149.57   | 0.83%             | 2031-05-30      | Floating      | 7.08%                 | No            | 2                  | On Loan: No      |
| GATES CORPORATION                         | Gates Corp/DE                                                | CUSIP: 36740UAY8<br>LEI: 984500F43C791F4C7894 | Long             | LON              | CORP              | US        |    746241 | PA      | $746087.62    | 0.14%             | 2031-06-04      | Floating      | 6.11%                 | No            | 2                  | On Loan: No      |
| MAJORDRIVE HOLDINGS IV L                  | MajorDrive Holdings IV LLC                                   | CUSIP: 56085UAB9<br>LEI: 25490044R1FR5N8FIT62 | Long             | LON              | CORP              | US        |   2451433 | PA      | $2415041.04   | 0.45%             | 2028-06-01      | Floating      | 8.56%                 | No            | 2                  | On Loan: No      |
| MADISON IAQ LLC                           | Madison IAQ LLC                                              | CUSIP: 55759VAB4<br>LEI: 549300IXDNBXNHUPBU73 | Long             | LON              | CORP              | US        |   4929059 | PA      | $4937759.16   | 0.93%             | 2028-06-21      | Floating      | 6.70%                 | No            | 2                  | On Loan: No      |
| ENGINEERED MACHINERY HOL                  | Engineered Machinery Holdings Inc                            | CUSIP: 26658NAP4<br>LEI: 5493008AR0NPSLW8EW07 | Long             | LON              | CORP              | US        |   1969388 | PA      | $1982218.32   | 0.37%             | 2028-05-22      | Floating      | 8.06%                 | No            | 2                  | On Loan: No      |
| ENGINEERED MACHINERY HOL                  | Engineered Machinery Holdings Inc                            | CUSIP: 26658NAQ2<br>LEI: 5493008AR0NPSLW8EW07 | Long             | LON              | CORP              | US        |    600000 | PA      | $603249.00    | 0.11%             | 2029-05-21      | Floating      | 10.56%                | No            | 2                  | On Loan: No      |
| SEAWORLD PARKS & ENTERTA                  | SeaWorld Parks & Entertainment Inc                           | CUSIP: 81282UAG7<br>LEI: 549300UZV72O3371JJ53 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1948942.20   | 0.37%             | 2029-08-15      | Fixed         | 5.25%                 | No            | 2                  | On Loan: —       |
| Sixth Street CLO LTD.                     | Sixth Street CLO XIX Ltd                                     | CUSIP: 83011MAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $500025.00    | 0.09%             | 2034-07-20      | Floating      | 10.49%                | No            | 2                  | On Loan: No      |
| IRIS HOLDING INC                          | Iris Holding Inc                                             | CUSIP: 46271BAB6<br>LEI: 54930013SPZ2NB3I3V40 | Long             | LON              | CORP              | US        |    761421 | PA      | $742678.93    | 0.14%             | 2028-06-28      | Floating      | 9.13%                 | No            | 2                  | On Loan: No      |
| IRIS HOLDING INC                          | Iris Holding Inc                                             | CUSIP: 46271BAB6<br>LEI: 54930013SPZ2NB3I3V40 | Long             | LON              | CORP              | US        |    719543 | PA      | $701831.58    | 0.13%             | 2028-06-28      | Floating      | 9.13%                 | No            | 2                  | On Loan: No      |
| GRAHAM PACKAGING/GPC CAP                  | Graham Packaging Co Inc                                      | CUSIP: 38469EAE3<br>LEI: 549300YS0ZFT826HIK72 | Long             | LON              | CORP              | US        |   5146301 | PA      | $5159861.51   | 0.97%             | 2027-08-04      | Floating      | 6.86%                 | No            | 2                  | On Loan: No      |
| GOLDEN STATE FOODS LLC                    | Golden State Foods LLC                                       | CUSIP: 38121NAC7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3225706 | PA      | $3247124.53   | 0.61%             | 2031-12-04      | Floating      | 8.59%                 | No            | 2                  | On Loan: No      |
| EMRLD BORROWER LP                         | Emrld Borrower LP                                            | CUSIP: 26872NAC3<br>LEI: 5493000GJYE7GAQCUC61 | Long             | LON              | CORP              | US        |   4283661 | PA      | $4291906.94   | 0.80%             | 2030-05-31      | Floating      | 6.83%                 | No            | 2                  | On Loan: No      |
| DYNASTY ACQUISITION CO I                  | Dynasty Acquisition Co Inc                                   | CUSIP: 26812CAN6<br>LEI: 549300L1RCRPOAUCB870 | Long             | LON              | CORP              | US        |   4685344 | PA      | $4702492.80   | 0.88%             | 2031-10-31      | Floating      | 6.36%                 | No            | 2                  | On Loan: No      |
| DYNASTY ACQUISITION CO I                  | Dynasty Acquisition Co Inc                                   | CUSIP: 26812CAP1<br>LEI: 549300L1RCRPOAUCB870 | Long             | LON              | CORP              | US        |   1782156 | PA      | $1788678.25   | 0.34%             | 2031-10-31      | Floating      | 6.36%                 | No            | 2                  | On Loan: No      |
| DUN & BRADSTREET CORP                     | Dun & Bradstreet Corp/The                                    | CUSIP: 26483NAW0<br>LEI: RI37BMPWE56BCJ747E14 | Long             | LON              | CORP              | US        |   4453327 | PA      | $4456511.10   | 0.84%             | 2029-01-18      | Floating      | 6.60%                 | No            | 2                  | On Loan: No      |
| STANDARD INDUSTRI INC/NY                  | Standard Industries Inc/NY                                   | CUSIP: 853496AD9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $493634.75    | 0.09%             | 2028-01-15      | Fixed         | 4.75%                 | No            | 2                  | On Loan: No      |
| Symphony CLO Ltd                          | Symphony CLO 37 Ltd                                          | CUSIP: 87169VBA2<br>LEI: 54930094HTRXFLXUBV36 | Long             | ABS-CBDO         | CORP              | JE        |   1250000 | PA      | $1263842.63   | 0.24%             | 2037-01-20      | Floating      | 9.23%                 | No            | 2                  | On Loan: No      |
| SEAWORLD PARKS & ENTERTA                  | SeaWorld Parks & Entertainment Inc                           | CUSIP: 78488CAL4<br>LEI: 549300UZV72O3371JJ53 | Long             | LON              | CORP              | US        |   4661837 | PA      | $4665729.88   | 0.87%             | 2031-12-04      | Floating      | 6.36%                 | No            | 2                  | On Loan: No      |
| GOAT HOLDCO LLC                           | Goat Holdco LLC                                              | CUSIP: 38021CAC2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5319668 | PA      | $5332966.68   | 1.00%             | 2032-01-27      | Floating      | 7.36%                 | No            | 2                  | On Loan: No      |
| TCI-Flatiron CLO Ltd                      | TCI-Flatiron CLO 2016-1 Ltd                                  | CUSIP: 87230BAH7<br>LEI: 549300EEOTVLW827QY91 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1000048.10   | 0.19%             | 2032-01-17      | Floating      | 10.57%                | No            | 2                  | On Loan: No      |
| UKG INC                                   | UKG Inc                                                      | CUSIP: 90279XAA0<br>LEI: 529900FKHWSTQ1GXK240 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1540939.50   | 0.29%             | 2031-02-01      | Fixed         | 6.88%                 | No            | 2                  | On Loan: No      |
| VISTRA OPERATIONS CO LLC                  | Vistra Operations Co LLC                                     | CUSIP: 92840VAH5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1939197.34   | 0.36%             | 2029-05-01      | Fixed         | 4.38%                 | No            | 2                  | On Loan: No      |
| Voya CLO Ltd                              | Voya CLO 2020-2 Ltd                                          | CUSIP: 92918HAT7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $5017500.00   | 0.94%             | 2038-01-20      | Floating      | 5.64%                 | No            | 2                  | On Loan: No      |
| IRB HOLDING CORP                          | IRB Holding Corp                                             | CUSIP: 44988LAL1<br>LEI: 549300HVW4WNWYBXN830 | Long             | LON              | CORP              | US        |    724421 | PA      | $725040.15    | 0.14%             | 2027-12-15      | Floating      | 6.86%                 | No            | 2                  | On Loan: No      |
| Wellington Management CLO                 | Wellington Management Clo 3 Ltd                              | CUSIP: 949575AA2<br>LEI: 2138007662K4YWZ79U31 | Long             | ABS-CBDO         | CORP              | JE        |   5000000 | PA      | $5016980.50   | 0.94%             | 2037-07-18      | Floating      | 5.69%                 | No            | 2                  | On Loan: No      |
| Wellington Management CLO                 | Wellington Management Clo 2 Ltd                              | CUSIP: 94958DAA4<br>LEI: 213800D61SXQACUYP461 | Long             | ABS-CBDO         | CORP              | JE        |   1510000 | PA      | $1533289.64   | 0.29%             | 2037-04-20      | Floating      | 11.23%                | No            | 2                  | On Loan: No      |
| FILTRATION GROUP CORP                     | Filtration Group Corp                                        | CUSIP: 31732FAV8<br>LEI: 549300ZA0D9WN5ECE978 | Long             | LON              | CORP              | US        |   3961519 | PA      | $3975443.43   | 0.74%             | 2028-10-23      | Floating      | 7.36%                 | No            | 2                  | On Loan: No      |
| GREAT OUTDOORS GROUP LLC                  | Great Outdoors Group LLC                                     | CUSIP: 07014QAP6<br>LEI: 549300IYLDI2E8I2AU46 | Long             | LON              | CORP              | US        |   4975000 | PA      | $4986193.75   | 0.93%             | 2032-01-23      | Floating      | 7.61%                 | No            | 2                  | On Loan: No      |
| WEBER-STEPHEN PRODUCTS L                  | Weber-Stephen Products LLC                                   | CUSIP: 94767KAN1<br>LEI: 549300XU8TJBBGLK8V26 | Long             | LON              | CORP              | US        |   5000000 | PA      | $5003925.00   | 0.94%             | 2027-10-29      | Floating      | 7.69%                 | No            | 2                  | On Loan: No      |
| PERATON CORP                              | Peraton Corp                                                 | CUSIP: 71360HAB3<br>LEI: 549300EQPCK07ZW63836 | Long             | LON              | CORP              | US        |   2932276 | PA      | $2617745.41   | 0.49%             | 2028-02-01      | Floating      | 8.21%                 | No            | 2                  | On Loan: No      |
| POLARIS NEWCO LLC                         | Polaris Newco LLC                                            | CUSIP: 73108RAB4<br>LEI: 254900LEPDAG7EDOA064 | Long             | LON              | CORP              | US        |   5178309 | PA      | $5089967.01   | 0.95%             | 2028-06-05      | Floating      | 8.32%                 | No            | 2                  | On Loan: No      |
| MAJORDRIVE HOLDINGS IV L                  | MajorDrive Holdings IV LLC                                   | CUSIP: 56085UAC7<br>LEI: 25490044R1FR5N8FIT62 | Long             | LON              | CORP              | US        |    987245 | PA      | $980457.59    | 0.18%             | 2029-06-01      | Floating      | 9.95%                 | No            | 2                  | On Loan: No      |
| GATES CORPORATION                         | Gates Corp/DE                                                | CUSIP: 36740UAX0<br>LEI: 984500F43C791F4C7894 | Long             | LON              | CORP              | US        |   4225834 | PA      | $4226172.28   | 0.79%             | 2029-11-16      | Floating      | 6.11%                 | No            | 2                  | On Loan: No      |
| X CORP                                    | X Corp                                                       | CUSIP: 90184NAG3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4000000 | PA      | $3904680.00   | 0.73%             | 2029-10-29      | Floating      | 10.96%                | No            | 2                  | On Loan: No      |
| WEC US HOLDINGS INC                       | WEC US Holdings Inc                                          | CUSIP: 92943LAC4<br>LEI: 5493002M6GRSU1IWMG57 | Long             | LON              | CORP              | US        |   4952481 | PA      | $4961568.99   | 0.93%             | 2031-01-27      | Floating      | 6.58%                 | No            | 2                  | On Loan: No      |
| STUBHUB HOLDCO SUB LLC                    | StubHub Holdco Sub LLC                                       | CUSIP: 74530DAH8<br>LEI: 549300NL9JUFIOARLW93 | Long             | LON              | CORP              | US        |   4974495 | PA      | $4944971.27   | 0.93%             | 2030-03-15      | Floating      | 9.11%                 | No            | 2                  | On Loan: No      |
| PROAMPAC PG BORROWER LLC                  | Proampac PG Borrower LLC                                     | CUSIP: 74274NAL7<br>LEI: 549300ZI6LTXYFEY1578 | Long             | LON              | CORP              | US        |   1143868 | PA      | $1148871.92   | 0.22%             | 2028-09-15      | Floating      | 8.32%                 | No            | 2                  | On Loan: No      |
| PROAMPAC PG BORROWER LLC                  | Proampac PG Borrower LLC                                     | CUSIP: 74274NAL7<br>LEI: 549300ZI6LTXYFEY1578 | Long             | LON              | CORP              | US        |   1775856 | PA      | $1783625.63   | 0.33%             | 2028-09-15      | Floating      | 8.32%                 | No            | 2                  | On Loan: No      |
| SIX FLAGS ENTERTAINME                     | Six Flags Entertainment Corp                                 | CUSIP: 15018LAN1<br>LEI: 529900AS2CYWYFHRS781 | Long             | LON              | CORP              | US        |   3954988 | PA      | $3958289.94   | 0.74%             | 2031-05-01      | Floating      | 6.36%                 | No            | 2                  | On Loan: No      |
| MEDLINE BORROWER LP                       | Medline Borrower LP                                          | CUSIP: 58503UAF0<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |   4750960 | PA      | $4760532.75   | 0.89%             | 2028-10-23      | Floating      | 6.58%                 | No            | 2                  | On Loan: No      |
| NOURYON FINANCE BV                        | Nouryon Finance BV                                           | CUSIP: N8232NAL1<br>LEI: 549300GD4NJGLPVYB245 | Long             | LON              | CORP              | NL        |    248626 | PA      | $249015.18    | 0.05%             | 2028-04-03      | Floating      | 7.51%                 | No            | 2                  | On Loan: No      |
| UNITED AIRLINES INC                       | United Airlines Inc                                          | CUSIP: 90932RAP9<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | LON              | CORP              | US        |   1491671 | PA      | $1499315.67   | 0.28%             | 2031-02-24      | Floating      | 6.35%                 | No            | 2                  | On Loan: No      |
| HUB INTERNATIONAL LTD                     | HUB International Ltd                                        | CUSIP: 44332EAZ9<br>LEI: 549300JQT6ATTUNS5E06 | Long             | LON              | CORP              | US        |      4956 | PA      | $4968.08      | 0.00%             | 2030-06-20      | Floating      | 6.83%                 | No            | 2                  | On Loan: No      |
| HUB INTERNATIONAL LTD                     | HUB International Ltd                                        | CUSIP: 44332EAZ9<br>LEI: 549300JQT6ATTUNS5E06 | Long             | LON              | CORP              | US        |   1683049 | PA      | $1687029.72   | 0.32%             | 2030-06-20      | Floating      | 6.83%                 | No            | 2                  | On Loan: No      |
| SPX FLOW INC                              | SPX FLOW Inc                                                 | CUSIP: 78470DAV0<br>LEI: 5493003YXEKRBINIEM78 | Long             | LON              | CORP              | US        |   5272617 | PA      | $5292890.38   | 0.99%             | 2029-04-05      | Floating      | 7.36%                 | No            | 2                  | On Loan: No      |
| WHATABRANDS LLC                           | Whatabrands LLC                                              | CUSIP: 96244UAJ6<br>LEI: 254900HMMX4HTWIP0085 | Long             | LON              | CORP              | US        |   4940074 | PA      | $4946669.10   | 0.93%             | 2028-08-03      | Floating      | 6.86%                 | No            | 2                  | On Loan: No      |
| PHOENIX NEWCO INC                         | Phoenix Newco Inc                                            | CUSIP: 71911KAE4<br>LEI: 254900PHGVI5379Z9791 | Long             | LON              | CORP              | US        |   2368276 | PA      | $2374350.56   | 0.44%             | 2028-11-15      | Floating      | 6.86%                 | No            | 2                  | On Loan: No      |
| WAND NEWCO 3 INC                          | Wand NewCo 3 Inc                                             | CUSIP: 93369PAM6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | LON              | CORP              | US        |   4835395 | PA      | $4830849.80   | 0.91%             | 2031-01-30      | Floating      | 6.86%                 | No            | 2                  | On Loan: No      |
| QUIKRETE HOLDINGS INC                     | Quikrete Holdings Inc                                        | CUSIP: 74839XAM1<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |   4892200 | PA      | $4894573.14   | 0.92%             | 2031-04-14      | Floating      | 6.61%                 | No            | 2                  | On Loan: No      |
| PEER HOLDING III BV                       | Peer Holding III BV                                          | CUSIP: N/A<br>LEI: 7245002S0K5Q59JCVQ03       | Long             | LON              | CORP              | NL        |   2979862 | PA      | $2990097.41   | 0.56%             | 2030-10-28      | Floating      | 6.80%                 | No            | 2                  | On Loan: No      |
| PREGIS TOPCO LLC                          | Pregis TopCo LLC                                             | CUSIP: 74045BAG2<br>LEI: 549300LJXHJYHS1GM034 | Long             | LON              | CORP              | US        |   1954127 | PA      | $1975866.29   | 0.37%             | 2029-02-01      | Floating      | 8.36%                 | No            | 2                  | On Loan: No      |
| SAVOR ACQUISITION INC                     | Savor Acquisition Inc                                        | CUSIP: 80536AAB8<br>LEI: 25490051R6ZOBEBPQ519 | Long             | LON              | CORP              | US        |   4568966 | PA      | $4597521.53   | 0.86%             | 2032-02-19      | Floating      | 7.61%                 | No            | 2                  | On Loan: No      |
| SAVOR ACQUISITION INC                     | Savor Acquisition Inc                                        | CUSIP: 80536AAC6<br>LEI: 25490051R6ZOBEBPQ519 | Long             | LON              | CORP              | US        |    431034 | PA      | $433728.47    | 0.08%             | 2032-02-19      | Floating      | 7.56%                 | No            | 2                  | On Loan: No      |
| Benefit Street Partners CLO Lt            | Benefit Street Partners CLO Ltd                              | CUSIP: 08182DAN4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $5002148.50   | 0.94%             | 2038-04-20      | Floating      | 5.51%                 | No            | 2                  | On Loan: No      |
| Benefit Street Partners CLO Lt            | Benefit Street Partners CLO XXIII Ltd                        | CUSIP: 08186VAU4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3023790.00   | 0.57%             | 2034-04-25      | Floating      | 7.22%                 | No            | 2                  | On Loan: No      |
| Benefit Street Partners CLO Lt            | Benefit Street Partners CLO XXV Ltd                          | CUSIP: 08187AAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $999284.40    | 0.19%             | 2035-01-15      | Floating      | 8.92%                 | No            | 2                  | On Loan: No      |
| Birch Grove CLO Ltd.                      | Birch Grove CLO 12 Ltd                                       | CUSIP: 09090NAE1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1078500.00   | 0.20%             | 2038-04-22      | Variable      | 0.00%                 | No            | 2                  | On Loan: No      |
| Diameter Capital CLO                      | Diameter Capital Clo 6 Ltd                                   | CUSIP: 25255VAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1200000 | PA      | $1224721.08   | 0.23%             | 2037-04-15      | Floating      | 11.49%                | No            | 2                  | On Loan: No      |
| BOOST NEWCO BORROWER LLC                  | Boost Newco Borrower LLC                                     | CUSIP: 36268NAA8<br>LEI: 254900S8RE1OL7TTCU64 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1058094.00   | 0.20%             | 2031-01-15      | Fixed         | 7.50%                 | No            | 2                  | On Loan: No      |
| BOMBARDIER RECREATIONAL                   | Bombardier Recreational Products Inc                         | CUSIP: 09776MAM6<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |    212534 | PA      | $212925.02    | 0.04%             | 2027-05-24      | Floating      | 6.46%                 | No            | 2                  | On Loan: No      |
| DEERFIELD DAKOTA HOLDING                  | Deerfield Dakota Holding LLC                                 | CUSIP: 24440EAB3<br>LEI: 549300FDREJLOIGXY104 | Long             | LON              | CORP              | US        |   4923385 | PA      | $4887346.08   | 0.92%             | 2027-04-09      | Floating      | 8.05%                 | No            | 2                  | On Loan: No      |
| DOOSAN BOBCAT NORTH                       | Doosan Bobcat North America Inc                              | CUSIP: 18143EAL3<br>LEI: 549300X1FKNY520VPF71 | Long             | LON              | CORP              | US        |   4448871 | PA      | $4473206.36   | 0.84%             | 2029-04-20      | Floating      | 6.30%                 | No            | 2                  | On Loan: No      |
| CROSBY US ACQUISITION CORP                | Crosby US Acquisition Corp                                   | CUSIP: 22739PAP1<br>LEI: 549300V5HSWHDNVOWE35 | Long             | LON              | CORP              | US        |   3458797 | PA      | $3481936.33   | 0.65%             | 2029-08-16      | Floating      | 7.86%                 | No            | 2                  | On Loan: No      |
| CUBE A&D BUYER INC                        | Cube A&D Buyer Inc                                           | CUSIP: 22971EAB4<br>LEI: 25490058FG1NWDNJ5K52 | Long             | LON              | CORP              | US        |   3890250 | PA      | $3913961.07   | 0.73%             | 2031-10-20      | Floating      | 7.58%                 | No            | 2                  | On Loan: No      |
| BOOST NEWCO BORROWER LLC                  | Boost Newco Borrower LLC                                     | CUSIP: 92943EAG1<br>LEI: 254900S8RE1OL7TTCU64 | Long             | LON              | CORP              | US        |    987525 | PA      | $990304.88    | 0.19%             | 2031-01-31      | Floating      | 6.30%                 | No            | 2                  | On Loan: No      |

### Signature

**Date Signed:** 2025-09-25

**Name of Applicant:** Pacer Funds Trust

**Signature:** /s/ Bruce Kavanaugh

**Name of Signer:** Pacer Funds Trust

**Title:** Vice President