# EDGAR Filing Document

**Accession Number:** 0001227073
**File Stem:** 0001410368-25-010607
**Filing Date:** 2025-9
**Character Count:** 314803
**Document Hash:** f28005c37b76fabc8447b023701f472d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-010607.hdr.sgml**: 20250925

**ACCESSION NUMBER**: 0001410368-25-010607

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250925

**DATE AS OF CHANGE**: 20250925

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ALLSPRING MULTI-SECTOR INCOME FUND
- **CENTRAL INDEX KEY:** 0001227073

**ORGANIZATION NAME:**
- **EIN:** 562355707
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21331
- **FILM NUMBER:** 251340541

**BUSINESS ADDRESS:**
- **STREET 1:** 1415 VANTAGE PARK DRIVE
- **STREET 2:** 3RD FLOOR
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28203
- **BUSINESS PHONE:** 833-568-4255

**MAIL ADDRESS:**
- **STREET 1:** 101 SEAPORT BLVD
- **STREET 2:** FLOOR 11
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WELLS FARGO MULTI-SECTOR INCOME FUND
- **DATE OF NAME CHANGE:** 20151216

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WELLS FARGO ADVANTAGE MULTI-SECTOR INCOME FUND
- **DATE OF NAME CHANGE:** 20100719

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EVERGREEN MULTI-SECTOR INCOME FUND
- **DATE OF NAME CHANGE:** 20070530

## Nport-Ex

Portfolio of investments—July 31, 2025 (unaudited)

Portfolio of investments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest <br>rate<br>| Maturity <br>date<br>| Principal | Value |
| **Agency securities: 0.09%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; FHLMC | 8.50<br> %<br>| &nbsp;&nbsp; 7-1-2028 | $1152 | &nbsp;&nbsp; $1164 |
| &nbsp;&nbsp;&nbsp; FHLMC (1 Year Treasury Constant Maturity+2.25%)± | 6.60 | &nbsp;&nbsp; 2-1-2037 | 23276 | &nbsp;&nbsp; 24057 |
| &nbsp;&nbsp;&nbsp; FHLMC (5 Year Treasury Constant Maturity+2.09%)± | 2.61 | &nbsp;&nbsp; 9-1-2032 | 140865 | &nbsp;&nbsp; 137196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FHLMC Series 2390 Class FD (30 Day Average <br> U.S. SOFR+0.56%)±<br>| 4.90 | &nbsp;&nbsp; 12-15-2031 | 2169 | &nbsp;&nbsp; 2166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FHLMC Series 2567 Class FH (30 Day Average <br> U.S. SOFR+0.51%)±<br>| 4.85 | &nbsp;&nbsp; 2-15-2033 | 13458 | &nbsp;&nbsp; 13409 |
| &nbsp;&nbsp;&nbsp; FNMA | 6.00 | &nbsp;&nbsp; 4-1-2033 | 31930 | &nbsp;&nbsp; 31819 |
| &nbsp;&nbsp;&nbsp; FNMA Series 2001-25 Class Z | 6.00 | &nbsp;&nbsp; 6-25-2031 | 12675 | &nbsp;&nbsp; 12942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FNMA Series 2001-35 Class F (30 Day Average <br> U.S. SOFR+0.71%)±<br>| 5.06 | &nbsp;&nbsp; 7-25-2031 | 1018 | &nbsp;&nbsp; 1017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FNMA Series 2001-57 Class F (30 Day Average <br> U.S. SOFR+0.61%)±<br>| 4.96 | &nbsp;&nbsp; 6-25-2031 | 1025 | &nbsp;&nbsp; 1025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FNMA Series 2002-77 Class FH (30 Day Average <br> U.S. SOFR+0.51%)±<br>| 4.86 | &nbsp;&nbsp; 12-18-2032 | 4227 | &nbsp;&nbsp; 4219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FNMA Series 2002-97 Class FR (30 Day Average <br> U.S. SOFR+0.66%)±<br>| 5.01 | &nbsp;&nbsp; 1-25-2033 | 1517 | &nbsp;&nbsp; 1517 |
| &nbsp;&nbsp;&nbsp; GNMA | 6.50 | &nbsp;&nbsp; 6-15-2028 | 2869 | &nbsp;&nbsp; 2889 |
| &nbsp;&nbsp;&nbsp; GNMA Series 2019-H06 Class HIƒ±± | 1.79 | &nbsp;&nbsp; 4-20-2069 | 990814 | &nbsp;&nbsp; 9908 |
| **Total agency securities (Cost $283,868)** |  |  |  | &nbsp;&nbsp; **243328** |
| **Asset-backed securities: 4.58%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; ABFC Trust Series 2003-AHL1 Class A1±± | 4.18 | &nbsp;&nbsp; 3-25-2033 | 42715 | &nbsp;&nbsp; 41561 |
| &nbsp;&nbsp;&nbsp; Aqua Finance Trust Series 2021-A Class A144A | 1.54 | &nbsp;&nbsp; 7-17-2046 | 191268 | &nbsp;&nbsp; 175428 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BRSP Ltd. Series 2021-FL1 Class A (U.S. SOFR 1 <br> Month+1.26%)144A±<br>| 5.62 | &nbsp;&nbsp; 8-19-2038 | 131917 | &nbsp;&nbsp; 131512 |
| &nbsp;&nbsp;&nbsp; Centex Home Equity Loan Trust Series 2002-A Class AF6 | 5.54 | &nbsp;&nbsp; 1-25-2032 | 2575 | &nbsp;&nbsp; 2557 |
| &nbsp;&nbsp;&nbsp; Five Guys Holdings, Inc. Series 2023-1A Class A2144A | 7.55 | &nbsp;&nbsp; 1-26-2054 | 54588 | &nbsp;&nbsp; 56135 |
| &nbsp;&nbsp;&nbsp; Frontier Issuer LLC Series 2024-1 Class C144A | 11.16 | &nbsp;&nbsp; 6-20-2054 | 230653 | &nbsp;&nbsp; 257430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HGI CRE CLO Ltd. Series 2021-FL2 Class A (U.S. SOFR 1 <br> Month+1.11%)144A±<br>| 5.45 | &nbsp;&nbsp; 9-17-2036 | 575241 | &nbsp;&nbsp; 573171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Home Partners of America Trust Series 2021-1 <br> Class D144A<br>| 2.48 | &nbsp;&nbsp; 9-17-2041 | 865970 | &nbsp;&nbsp; 763668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MF1 Ltd. Series 2022-FL8 Class A (U.S. SOFR 1 <br> Month+1.35%)144A±<br>| 5.70 | &nbsp;&nbsp; 2-19-2037 | 749991 | &nbsp;&nbsp; 750008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MF1 Ltd. Series 2022-FL8 Class C (U.S. SOFR 1 <br> Month+2.20%)144A±<br>| 6.55 | &nbsp;&nbsp; 2-19-2037 | 1000000 | &nbsp;&nbsp; 998213 |
| &nbsp;&nbsp;&nbsp; Mid-State Trust XI Series 11 Class A1 | 4.86 | &nbsp;&nbsp; 7-15-2038 | 26808 | &nbsp;&nbsp; 26693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Century Home Equity Loan Trust Series 2004-3 <br> Class M1 (U.S. SOFR 1 Month+1.04%)±<br>| 5.40 | &nbsp;&nbsp; 11-25-2034 | 561113 | &nbsp;&nbsp; 567148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Economy Assets - Phase 1 Sponsor LLC Series 2021-1 <br> Class B1144A<br>| 2.41 | &nbsp;&nbsp; 10-20-2061 | 1000000 | &nbsp;&nbsp; 780251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retained Vantage Data Centers Issuer LLC Series 2023-1A <br> Class A2A144A<br>| 5.00 | &nbsp;&nbsp; 9-15-2048 | 900000 | &nbsp;&nbsp; 887564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sound Point CLO VIII-R Ltd. Series 2015-1RA Class BR <br> (U.S. SOFR 3 Month+1.81%)144A±<br>| 6.13 | &nbsp;&nbsp; 4-15-2030 | 612276 | &nbsp;&nbsp; 613068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Starwood LLC Series 2025-SIF5A Class A (U.S. SOFR 3 <br> Month+1.55%)144A±<br>| 5.80 | &nbsp;&nbsp; 4-15-2037 | 1000000 | &nbsp;&nbsp; 1002162 |

---

See accompanying notes to portfolio of investments

Allspring Multi-Sector Income Fund \| 1

------

Portfolio of investments—July 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Asset-backed securities**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Starwood Ltd. Series 2022-FL3 Class A (30 Day Average <br> U.S. SOFR+1.35%)144A±<br>| 5.69<br> %<br>| &nbsp;&nbsp; 11-15-2038 | $1526989 | &nbsp;&nbsp; $1522533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Store Master Funding I-VII XIV XIX XX XXIV Series 2023-1A <br> Class A1144A<br>| 6.19 | &nbsp;&nbsp; 6-20-2053 | 494583 | &nbsp;&nbsp; 497317 |
| &nbsp;&nbsp;&nbsp; Store Master Funding I-VII Series 2018-1A Class A2144A | 4.29 | &nbsp;&nbsp; 10-20-2048 | 487480 | &nbsp;&nbsp; 478779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terwin Mortgage Trust Series 2003-6HE Class A3 <br> (U.S. SOFR 1 Month+1.25%)±<br>| 5.61 | &nbsp;&nbsp; 11-25-2033 | 91608 | &nbsp;&nbsp; 81704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TRTX Issuer Ltd. Series 2022-FL5 Class A (U.S. SOFR 1 <br> Month+1.65%)144A±<br>| 5.96 | &nbsp;&nbsp; 2-15-2039 | 706988 | &nbsp;&nbsp; 706597 |
| &nbsp;&nbsp;&nbsp; Uniti Fiber ABS Issuer LLC Series 2025-1A Class B144A | 6.37 | &nbsp;&nbsp; 4-20-2055 | 510000 | &nbsp;&nbsp; 519079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vantage Data Centers Issuer LLC Series 2020-1A <br> Class A2144A<br>| 1.65 | &nbsp;&nbsp; 9-15-2045 | 900000 | &nbsp;&nbsp; 895814 |
| &nbsp;&nbsp;&nbsp; Westgate Resorts LLC Series 2022-1A Class C144A | 2.49 | &nbsp;&nbsp; 8-20-2036 | 163399 | &nbsp;&nbsp; 162824 |
| &nbsp;&nbsp;&nbsp; Ziply Fiber Issuer LLC Series 2024-1A Class C144A | 11.17 | &nbsp;&nbsp; 4-20-2054 | 280000 | &nbsp;&nbsp; 299781 |
| **Total asset-backed securities (Cost $12,910,688)** |  |  |  | &nbsp;&nbsp; **12790997** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | Shares |  |
| **Common stocks: 1.14%** |  |  |
| **Communication services: 0.00%** |  |  |
| **Diversified telecommunication services: 0.00%** |  |  |
| &nbsp;&nbsp;&nbsp; Intelsat Emergence SA♦† | 90 | &nbsp;&nbsp; **0** |
| **Media: 0.00%** |  |  |
| &nbsp;&nbsp;&nbsp; SES SA† | 90 | &nbsp;&nbsp; **1035** |
| **Energy: 0.81%** |  |  |
| **Oil, gas & consumable fuels: 0.81%** |  |  |
| &nbsp;&nbsp;&nbsp; Enviva, Inc.† | 119158 | &nbsp;&nbsp; **2241719** |
| **Utilities: 0.28%** |  |  |
| **Independent power and renewable electricity producers:** <br> **0.28%** |  |  |
| &nbsp;&nbsp;&nbsp; Vistra Corp. | 3744 | &nbsp;&nbsp; **780774** |
| **Investment Companies: 0.05%** |  |  |
| &nbsp;&nbsp;&nbsp; Resolute Topco, Inc.‡† | 26718 | &nbsp;&nbsp; **146949** |
| **Total common stocks (Cost $1,146,497)** |  | &nbsp;&nbsp; **3170477** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  |  | Principal |  |
| **Corporate bonds and notes: 63.82%** |  |  |  |  |
| **Basic materials: 1.21%** |  |  |  |  |
| **Chemicals: 0.89%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Celanese U.S. Holdings LLC | 6.50 | &nbsp;&nbsp; 4-15-2030 | $720000 | &nbsp;&nbsp; 728101 |
| &nbsp;&nbsp;&nbsp; Chemours Co.144A | 8.00 | &nbsp;&nbsp; 1-15-2033 | 890000 | &nbsp;&nbsp; 827896 |
| &nbsp;&nbsp;&nbsp; SCIH Salt Holdings, Inc.144A | 6.63 | &nbsp;&nbsp; 5-1-2029 | 930000 | &nbsp;&nbsp; 919378 |
|  |  |  |  | &nbsp;&nbsp; **2475375** |

---

See accompanying notes to portfolio of investments

2 \| Allspring Multi-Sector Income Fund

------

Portfolio of investments—July 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Iron/steel: 0.32%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Cleveland-Cliffs, Inc.144A | 7.00<br> %<br>| &nbsp;&nbsp; 3-15-2032 | $935000 | &nbsp;&nbsp; **$912195** |
| **Communications: 8.38%** |  |  |  |  |
| **Advertising: 1.07%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc.144A | 5.13 | &nbsp;&nbsp; 8-15-2027 | 600000 | &nbsp;&nbsp; 599185 |
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc.144A | 7.13 | &nbsp;&nbsp; 2-15-2031 | 220000 | &nbsp;&nbsp; 219696 |
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc.144A | 7.50 | &nbsp;&nbsp; 3-15-2033 | 75000 | &nbsp;&nbsp; 74867 |
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc.144A | 9.00 | &nbsp;&nbsp; 9-15-2028 | 690000 | &nbsp;&nbsp; 722941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Outfront Media Capital LLC/Outfront Media Capital <br> Corp.144A<br>| 4.63 | &nbsp;&nbsp; 3-15-2030 | 590000 | &nbsp;&nbsp; 560084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Outfront Media Capital LLC/Outfront Media Capital <br> Corp.144A<br>| 7.38 | &nbsp;&nbsp; 2-15-2031 | 775000 | &nbsp;&nbsp; 813725 |
|  |  |  |  | &nbsp;&nbsp; **2990498** |
| **Internet: 0.79%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Arches Buyer, Inc.144A | 4.25 | &nbsp;&nbsp; 6-1-2028 | 350000 | &nbsp;&nbsp; 337102 |
| &nbsp;&nbsp;&nbsp; Arches Buyer, Inc.144A | 6.13 | &nbsp;&nbsp; 12-1-2028 | 525000 | &nbsp;&nbsp; 501049 |
| &nbsp;&nbsp;&nbsp; Cablevision Lightpath LLC144A | 5.63 | &nbsp;&nbsp; 9-15-2028 | 580000 | &nbsp;&nbsp; 578084 |
| &nbsp;&nbsp;&nbsp; Match Group Holdings II LLC144A | 5.63 | &nbsp;&nbsp; 2-15-2029 | 791000 | &nbsp;&nbsp; 788517 |
|  |  |  |  | &nbsp;&nbsp; **2204752** |
| **Media: 4.28%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp.144A | 4.25 | &nbsp;&nbsp; 1-15-2034 | 1750000 | &nbsp;&nbsp; 1507891 |
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp.144A | 4.50 | &nbsp;&nbsp; 8-15-2030 | 2550000 | &nbsp;&nbsp; 2385832 |
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp. | 4.50 | &nbsp;&nbsp; 5-1-2032 | 360000 | &nbsp;&nbsp; 326651 |
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp.144A | 5.00 | &nbsp;&nbsp; 2-1-2028 | 500000 | &nbsp;&nbsp; 490641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>| 5.05 | &nbsp;&nbsp; 3-30-2029 | 675000 | &nbsp;&nbsp; 678867 |
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC144A | 3.38 | &nbsp;&nbsp; 2-15-2031 | 715000 | &nbsp;&nbsp; 467673 |
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC144A | 5.50 | &nbsp;&nbsp; 4-15-2027 | 855000 | &nbsp;&nbsp; 827570 |
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC144A | 5.75 | &nbsp;&nbsp; 1-15-2030 | 425000 | &nbsp;&nbsp; 209541 |
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC144A | 11.25 | &nbsp;&nbsp; 5-15-2028 | 565000 | &nbsp;&nbsp; 567941 |
| &nbsp;&nbsp;&nbsp; DISH DBS Corp.144A | 5.75 | &nbsp;&nbsp; 12-1-2028 | 420000 | &nbsp;&nbsp; 375311 |
| &nbsp;&nbsp;&nbsp; DISH Network Corp.144A | 11.75 | &nbsp;&nbsp; 11-15-2027 | 1410000 | &nbsp;&nbsp; 1468432 |
| &nbsp;&nbsp;&nbsp; Gray Media, Inc.144A | 9.63 | &nbsp;&nbsp; 7-15-2032 | 595000 | &nbsp;&nbsp; 600219 |
| &nbsp;&nbsp;&nbsp; News Corp.144A | 5.13 | &nbsp;&nbsp; 2-15-2032 | 500000 | &nbsp;&nbsp; 487324 |
| &nbsp;&nbsp;&nbsp; Paramount Global (3 Month LIBOR+3.90%)± | 6.25 | &nbsp;&nbsp; 2-28-2057 | 475000 | &nbsp;&nbsp; 457781 |
| &nbsp;&nbsp;&nbsp; Sirius XM Radio LLC144A | 4.13 | &nbsp;&nbsp; 7-1-2030 | 1190000 | &nbsp;&nbsp; 1085558 |
|  |  |  |  | &nbsp;&nbsp; **11937232** |
| **Telecommunications: 2.24%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; CommScope LLC144A | 8.25 | &nbsp;&nbsp; 3-1-2027 | 720000 | &nbsp;&nbsp; 721663 |
| &nbsp;&nbsp;&nbsp; EchoStar Corp. (PIK at 6.75%)¥ | 6.75 | &nbsp;&nbsp; 11-30-2030 | 2136477 | &nbsp;&nbsp; 2024312 |
| &nbsp;&nbsp;&nbsp; Level 3 Financing, Inc.144A | 3.63 | &nbsp;&nbsp; 1-15-2029 | 610000 | &nbsp;&nbsp; 518500 |
| &nbsp;&nbsp;&nbsp; Level 3 Financing, Inc.144A | 3.88 | &nbsp;&nbsp; 10-15-2030 | 700000 | &nbsp;&nbsp; 600250 |
| &nbsp;&nbsp;&nbsp; Level 3 Financing, Inc.144A | 6.88 | &nbsp;&nbsp; 6-30-2033 | 455000 | &nbsp;&nbsp; 461076 |
| &nbsp;&nbsp;&nbsp; Lumen Technologies, Inc.144A | 10.00 | &nbsp;&nbsp; 10-15-2032 | 656250 | &nbsp;&nbsp; 663633 |

---

See accompanying notes to portfolio of investments

Allspring Multi-Sector Income Fund \| 3

------

Portfolio of investments—July 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Telecommunications**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint <br> Spectrum Co. III LLC144A<br>| 5.15<br> %<br>| &nbsp;&nbsp; 3-20-2028 | $412500 | &nbsp;&nbsp; $413958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Windstream Services LLC/Windstream Escrow Finance <br> Corp.144A<br>| 8.25 | &nbsp;&nbsp; 10-1-2031 | 825000 | &nbsp;&nbsp; 863684 |
|  |  |  |  | &nbsp;&nbsp; **6267076** |
| **Consumer, cyclical: 9.33%** |  |  |  |  |
| **Airlines: 0.03%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; American Airlines, Inc./AAdvantage Loyalty IP Ltd.144A | 5.50 | &nbsp;&nbsp; 4-20-2026 | 85000 | &nbsp;&nbsp; **84923** |
| **Apparel: 0.22%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Beach Acquisition Bidco LLC (PIK at 10.75%)144A¥ | 10.00 | &nbsp;&nbsp; 7-15-2033 | 580000 | &nbsp;&nbsp; **604693** |
| **Auto manufacturers: 0.06%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Nissan Motor Acceptance Co. LLC144A | 7.05 | &nbsp;&nbsp; 9-15-2028 | 175000 | &nbsp;&nbsp; **180296** |
| **Auto parts & equipment: 0.66%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Adient Global Holdings Ltd.144A | 7.50 | &nbsp;&nbsp; 2-15-2033 | 505000 | &nbsp;&nbsp; 514979 |
| &nbsp;&nbsp;&nbsp; Adient Global Holdings Ltd.144A | 8.25 | &nbsp;&nbsp; 4-15-2031 | 145000 | &nbsp;&nbsp; 151566 |
| &nbsp;&nbsp;&nbsp; Cooper Tire & Rubber Co. LLC | 7.63 | &nbsp;&nbsp; 3-15-2027 | 705000 | &nbsp;&nbsp; 722625 |
| &nbsp;&nbsp;&nbsp; ZF North America Capital, Inc.144A | 6.88 | &nbsp;&nbsp; 4-23-2032 | 490000 | &nbsp;&nbsp; 457231 |
|  |  |  |  | &nbsp;&nbsp; **1846401** |
| **Distribution/wholesale: 0.07%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; RB Global Holdings, Inc.144A | 7.75 | &nbsp;&nbsp; 3-15-2031 | 175000 | &nbsp;&nbsp; **183399** |
| **Entertainment: 2.52%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; CCM Merger, Inc.144A | 6.38 | &nbsp;&nbsp; 5-1-2026 | 2380000 | &nbsp;&nbsp; 2379281 |
| &nbsp;&nbsp;&nbsp; Churchill Downs, Inc.144A | 6.75 | &nbsp;&nbsp; 5-1-2031 | 800000 | &nbsp;&nbsp; 816822 |
| &nbsp;&nbsp;&nbsp; Cinemark USA, Inc.144A | 7.00 | &nbsp;&nbsp; 8-1-2032 | 1425000 | &nbsp;&nbsp; 1471434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp./Six Flags Theme Parks, <br> Inc./Canada's Wonderland Co.144A<br>| 6.63 | &nbsp;&nbsp; 5-1-2032 | 1005000 | &nbsp;&nbsp; 1023399 |
| &nbsp;&nbsp;&nbsp; WarnerMedia Holdings, Inc. | 4.28 | &nbsp;&nbsp; 3-15-2032 | 291000 | &nbsp;&nbsp; 244364 |
| &nbsp;&nbsp;&nbsp; WarnerMedia Holdings, Inc. | 5.05 | &nbsp;&nbsp; 3-15-2042 | 730000 | &nbsp;&nbsp; 487968 |
| &nbsp;&nbsp;&nbsp; WarnerMedia Holdings, Inc. Series WI | 4.05 | &nbsp;&nbsp; 3-15-2029 | 635000 | &nbsp;&nbsp; 596227 |
|  |  |  |  | &nbsp;&nbsp; **7019495** |
| **Home builders: 0.70%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Ashton Woods USA LLC/Ashton Woods Finance Co.144A | 6.88 | &nbsp;&nbsp; 8-1-2033 | 480000 | &nbsp;&nbsp; 478974 |
| &nbsp;&nbsp;&nbsp; LGI Homes, Inc.144A | 8.75 | &nbsp;&nbsp; 12-15-2028 | 675000 | &nbsp;&nbsp; 707956 |
| &nbsp;&nbsp;&nbsp; Taylor Morrison Communities, Inc.144A | 5.13 | &nbsp;&nbsp; 8-1-2030 | 255000 | &nbsp;&nbsp; 251730 |
| &nbsp;&nbsp;&nbsp; Tri Pointe Homes, Inc. | 5.70 | &nbsp;&nbsp; 6-15-2028 | 515000 | &nbsp;&nbsp; 520302 |
|  |  |  |  | &nbsp;&nbsp; **1958962** |
| **Home furnishings: 0.21%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Whirlpool Corp. | 6.13 | &nbsp;&nbsp; 6-15-2030 | 590000 | &nbsp;&nbsp; **588593** |

---

See accompanying notes to portfolio of investments

4 \| Allspring Multi-Sector Income Fund

------

Portfolio of investments—July 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Housewares: 0.49%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Newell Brands, Inc. | 6.38<br> %<br>| &nbsp;&nbsp; 5-15-2030 | $605000 | &nbsp;&nbsp; $586269 |
| &nbsp;&nbsp;&nbsp; Newell Brands, Inc.144A | 8.50 | &nbsp;&nbsp; 6-1-2028 | 755000 | &nbsp;&nbsp; 791144 |
|  |  |  |  | &nbsp;&nbsp; **1377413** |
| **Leisure time: 1.02%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; NCL Corp. Ltd.144A | 5.88 | &nbsp;&nbsp; 2-15-2027 | 500000 | &nbsp;&nbsp; 501481 |
| &nbsp;&nbsp;&nbsp; NCL Corp. Ltd.144A | 6.75 | &nbsp;&nbsp; 2-1-2032 | 380000 | &nbsp;&nbsp; 390306 |
| &nbsp;&nbsp;&nbsp; NCL Corp. Ltd.144A | 7.75 | &nbsp;&nbsp; 2-15-2029 | 275000 | &nbsp;&nbsp; 291730 |
| &nbsp;&nbsp;&nbsp; Sabre Global, Inc.144A | 10.75 | &nbsp;&nbsp; 11-15-2029 | 757000 | &nbsp;&nbsp; 779687 |
| &nbsp;&nbsp;&nbsp; Sabre Global, Inc.144A | 11.13 | &nbsp;&nbsp; 7-15-2030 | 170000 | &nbsp;&nbsp; 179223 |
| &nbsp;&nbsp;&nbsp; Viking Cruises Ltd.144A | 5.88 | &nbsp;&nbsp; 9-15-2027 | 210000 | &nbsp;&nbsp; 209864 |
| &nbsp;&nbsp;&nbsp; Viking Cruises Ltd.144A | 7.00 | &nbsp;&nbsp; 2-15-2029 | 500000 | &nbsp;&nbsp; 503845 |
|  |  |  |  | &nbsp;&nbsp; **2856136** |
| **Lodging: 0.70%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Genting New York LLC/GENNY Capital, Inc.144A | 7.25 | &nbsp;&nbsp; 10-1-2029 | 625000 | &nbsp;&nbsp; 643481 |
| &nbsp;&nbsp;&nbsp; Hilton Domestic Operating Co., Inc.144A | 6.13 | &nbsp;&nbsp; 4-1-2032 | 770000 | &nbsp;&nbsp; 785284 |
| &nbsp;&nbsp;&nbsp; Las Vegas Sands Corp. | 6.20 | &nbsp;&nbsp; 8-15-2034 | 500000 | &nbsp;&nbsp; 512691 |
|  |  |  |  | &nbsp;&nbsp; **1941456** |
| **Retail: 2.65%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Advance Auto Parts, Inc.144A | 7.38 | &nbsp;&nbsp; 8-1-2033 | 225000 | &nbsp;&nbsp; 226206 |
| &nbsp;&nbsp;&nbsp; Carvana Co. (PIK at 13.00%)144A¥ | 9.00 | &nbsp;&nbsp; 6-1-2030 | 1375000 | &nbsp;&nbsp; 1438206 |
| &nbsp;&nbsp;&nbsp; FirstCash, Inc.144A | 4.63 | &nbsp;&nbsp; 9-1-2028 | 250000 | &nbsp;&nbsp; 244425 |
| &nbsp;&nbsp;&nbsp; FirstCash, Inc.144A | 6.88 | &nbsp;&nbsp; 3-1-2032 | 1105000 | &nbsp;&nbsp; 1132741 |
| &nbsp;&nbsp;&nbsp; Group 1 Automotive, Inc.144A | 6.38 | &nbsp;&nbsp; 1-15-2030 | 495000 | &nbsp;&nbsp; 504189 |
| &nbsp;&nbsp;&nbsp; Lithia Motors, Inc.144A | 4.38 | &nbsp;&nbsp; 1-15-2031 | 670000 | &nbsp;&nbsp; 630229 |
| &nbsp;&nbsp;&nbsp; Macy's Retail Holdings LLC144A | 6.13 | &nbsp;&nbsp; 3-15-2032 | 580000 | &nbsp;&nbsp; 555334 |
| &nbsp;&nbsp;&nbsp; PetSmart, Inc./PetSmart Finance Corp.144A | 7.75 | &nbsp;&nbsp; 2-15-2029 | 505000 | &nbsp;&nbsp; 494184 |
| &nbsp;&nbsp;&nbsp; QXO Building Products, Inc.144A | 6.75 | &nbsp;&nbsp; 4-30-2032 | 595000 | &nbsp;&nbsp; 612716 |
| &nbsp;&nbsp;&nbsp; Saks Global Enterprises LLC144A | 11.00 | &nbsp;&nbsp; 12-15-2029 | 855000 | &nbsp;&nbsp; 192375 |
| &nbsp;&nbsp;&nbsp; Sally Holdings LLC/Sally Capital, Inc. | 6.75 | &nbsp;&nbsp; 3-1-2032 | 405000 | &nbsp;&nbsp; 415665 |
| &nbsp;&nbsp;&nbsp; Sonic Automotive, Inc.144A | 4.63 | &nbsp;&nbsp; 11-15-2029 | 295000 | &nbsp;&nbsp; 283705 |
| &nbsp;&nbsp;&nbsp; Sonic Automotive, Inc.144A | 4.88 | &nbsp;&nbsp; 11-15-2031 | 695000 | &nbsp;&nbsp; 655030 |
|  |  |  |  | &nbsp;&nbsp; **7385005** |
| **Consumer, non-cyclical: 9.30%** |  |  |  |  |
| **Commercial services: 3.24%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC144A | 7.88 | &nbsp;&nbsp; 2-15-2031 | 645000 | &nbsp;&nbsp; 676371 |
| &nbsp;&nbsp;&nbsp; Block, Inc. | 6.50 | &nbsp;&nbsp; 5-15-2032 | 895000 | &nbsp;&nbsp; 918438 |
| &nbsp;&nbsp;&nbsp; CoreCivic, Inc. | 8.25 | &nbsp;&nbsp; 4-15-2029 | 1495000 | &nbsp;&nbsp; 1580812 |
| &nbsp;&nbsp;&nbsp; GEO Group, Inc. | 8.63 | &nbsp;&nbsp; 4-15-2029 | 970000 | &nbsp;&nbsp; 1029873 |
| &nbsp;&nbsp;&nbsp; GEO Group, Inc. | 10.25 | &nbsp;&nbsp; 4-15-2031 | 845000 | &nbsp;&nbsp; 929016 |
| &nbsp;&nbsp;&nbsp; Herc Holdings, Inc.144A | 7.00 | &nbsp;&nbsp; 6-15-2030 | 885000 | &nbsp;&nbsp; 914679 |
| &nbsp;&nbsp;&nbsp; Hertz Corp.144A | 12.63 | &nbsp;&nbsp; 7-15-2029 | 190000 | &nbsp;&nbsp; 198499 |
| &nbsp;&nbsp;&nbsp; Service Corp. International | 5.75 | &nbsp;&nbsp; 10-15-2032 | 1055000 | &nbsp;&nbsp; 1057500 |

---

See accompanying notes to portfolio of investments

Allspring Multi-Sector Income Fund \| 5

------

Portfolio of investments—July 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Commercial services**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Sotheby's/BidFair Holdings, Inc.144A | 5.88<br> %<br>| &nbsp;&nbsp; 6-1-2029 | $1120000 | &nbsp;&nbsp; $1007447 |
| &nbsp;&nbsp;&nbsp; Veritiv Operating Co.144A | 10.50 | &nbsp;&nbsp; 11-30-2030 | 670000 | &nbsp;&nbsp; 726198 |
|  |  |  |  | &nbsp;&nbsp; **9038833** |
| **Food: 1.28%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Albertsons Cos., Inc./Safeway, Inc./New <br> Albertsons LP/Albertsons LLC144A<br>| 5.88 | &nbsp;&nbsp; 2-15-2028 | 565000 | &nbsp;&nbsp; 564554 |
| &nbsp;&nbsp;&nbsp; B&G Foods, Inc.144A | 8.00 | &nbsp;&nbsp; 9-15-2028 | 985000 | &nbsp;&nbsp; 920978 |
| &nbsp;&nbsp;&nbsp; Lamb Weston Holdings, Inc.144A | 4.38 | &nbsp;&nbsp; 1-31-2032 | 570000 | &nbsp;&nbsp; 532586 |
| &nbsp;&nbsp;&nbsp; Performance Food Group, Inc.144A | 6.13 | &nbsp;&nbsp; 9-15-2032 | 495000 | &nbsp;&nbsp; 502666 |
| &nbsp;&nbsp;&nbsp; U.S. Foods, Inc.144A | 5.75 | &nbsp;&nbsp; 4-15-2033 | 1060000 | &nbsp;&nbsp; 1050251 |
|  |  |  |  | &nbsp;&nbsp; **3571035** |
| **Healthcare-services: 4.33%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; CHS/Community Health Systems, Inc.144A | 5.25 | &nbsp;&nbsp; 5-15-2030 | 465000 | &nbsp;&nbsp; 406770 |
| &nbsp;&nbsp;&nbsp; CHS/Community Health Systems, Inc.144A | 6.00 | &nbsp;&nbsp; 1-15-2029 | 580000 | &nbsp;&nbsp; 551301 |
| &nbsp;&nbsp;&nbsp; CHS/Community Health Systems, Inc.144A | 10.88 | &nbsp;&nbsp; 1-15-2032 | 500000 | &nbsp;&nbsp; 524191 |
| &nbsp;&nbsp;&nbsp; CommonSpirit Health (AG Insured) | 3.82 | &nbsp;&nbsp; 10-1-2049 | 750000 | &nbsp;&nbsp; 546261 |
| &nbsp;&nbsp;&nbsp; Concentra Health Services, Inc.144A | 6.88 | &nbsp;&nbsp; 7-15-2032 | 820000 | &nbsp;&nbsp; 842542 |
| &nbsp;&nbsp;&nbsp; DaVita, Inc.144A | 6.88 | &nbsp;&nbsp; 9-1-2032 | 1740000 | &nbsp;&nbsp; 1788953 |
| &nbsp;&nbsp;&nbsp; HCA, Inc. | 5.75 | &nbsp;&nbsp; 3-1-2035 | 1000000 | &nbsp;&nbsp; 1024092 |
| &nbsp;&nbsp;&nbsp; IQVIA, Inc.144A | 6.25 | &nbsp;&nbsp; 6-1-2032 | 285000 | &nbsp;&nbsp; 292255 |
| &nbsp;&nbsp;&nbsp; IQVIA, Inc.144A | 6.50 | &nbsp;&nbsp; 5-15-2030 | 915000 | &nbsp;&nbsp; 943397 |
| &nbsp;&nbsp;&nbsp; MPH Acquisition Holdings LLC144A | 5.75 | &nbsp;&nbsp; 12-31-2030 | 103081 | &nbsp;&nbsp; 84939 |
| &nbsp;&nbsp;&nbsp; MPH Acquisition Holdings LLC (PIK at 0.75%)144A¥ | 6.75 | &nbsp;&nbsp; 3-31-2031 | 460873 | &nbsp;&nbsp; 351416 |
| &nbsp;&nbsp;&nbsp; MPH Acquisition Holdings LLC (PIK at 5.00%)144A¥ | 11.50 | &nbsp;&nbsp; 12-31-2030 | 264209 | &nbsp;&nbsp; 260906 |
| &nbsp;&nbsp;&nbsp; Pediatrix Medical Group, Inc.144A | 5.38 | &nbsp;&nbsp; 2-15-2030 | 665000 | &nbsp;&nbsp; 651232 |
| &nbsp;&nbsp;&nbsp; Radiology Partners, Inc.144A | 8.50 | &nbsp;&nbsp; 7-15-2032 | 700000 | &nbsp;&nbsp; 707287 |
| &nbsp;&nbsp;&nbsp; Star Parent, Inc.144A | 9.00 | &nbsp;&nbsp; 10-1-2030 | 1180000 | &nbsp;&nbsp; 1240887 |
| &nbsp;&nbsp;&nbsp; Surgery Center Holdings, Inc.144A | 7.25 | &nbsp;&nbsp; 4-15-2032 | 415000 | &nbsp;&nbsp; 426706 |
| &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp. | 6.75 | &nbsp;&nbsp; 5-15-2031 | 1400000 | &nbsp;&nbsp; 1440530 |
|  |  |  |  | &nbsp;&nbsp; **12083665** |
| **Household products/wares: 0.12%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Central Garden & Pet Co. | 4.13 | &nbsp;&nbsp; 10-15-2030 | 375000 | &nbsp;&nbsp; **352407** |
| **Pharmaceuticals: 0.33%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AdaptHealth LLC144A | 5.13 | &nbsp;&nbsp; 3-1-2030 | 775000 | &nbsp;&nbsp; 728501 |
| &nbsp;&nbsp;&nbsp; CVS Pass-Through Trust | 6.04 | &nbsp;&nbsp; 12-10-2028 | 183741 | &nbsp;&nbsp; 185565 |
|  |  |  |  | &nbsp;&nbsp; **914066** |
| **Energy: 7.53%** |  |  |  |  |
| **Energy-alternate sources: 0.55%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Enviva Partners LP/Enviva Partners Finance Corp.144A♦† | 6.50 | &nbsp;&nbsp; 1-15-2026 | 2845000 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp; TerraForm Power Operating LLC144A | 4.75 | &nbsp;&nbsp; 1-15-2030 | 1590000 | &nbsp;&nbsp; 1524163 |
|  |  |  |  | &nbsp;&nbsp; **1524163** |

---

See accompanying notes to portfolio of investments

6 \| Allspring Multi-Sector Income Fund

------

Portfolio of investments—July 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Oil & gas: 1.64%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Aethon United BR LP/Aethon United Finance Corp.144A | 7.50<br> %<br>| &nbsp;&nbsp; 10-1-2029 | $430000 | &nbsp;&nbsp; $450528 |
| &nbsp;&nbsp;&nbsp; APA Corp.144A | 4.38 | &nbsp;&nbsp; 10-15-2028 | 750000 | &nbsp;&nbsp; 720704 |
| &nbsp;&nbsp;&nbsp; California Resources Corp.144A | 8.25 | &nbsp;&nbsp; 6-15-2029 | 355000 | &nbsp;&nbsp; 364668 |
| &nbsp;&nbsp;&nbsp; Civitas Resources, Inc.144A | 9.63 | &nbsp;&nbsp; 6-15-2033 | 400000 | &nbsp;&nbsp; 411432 |
| &nbsp;&nbsp;&nbsp; Encino Acquisition Partners Holdings LLC144A | 8.75 | &nbsp;&nbsp; 5-1-2031 | 300000 | &nbsp;&nbsp; 331058 |
| &nbsp;&nbsp;&nbsp; Hilcorp Energy I LP/Hilcorp Finance Co.144A | 6.00 | &nbsp;&nbsp; 2-1-2031 | 565000 | &nbsp;&nbsp; 544249 |
| &nbsp;&nbsp;&nbsp; Kimmeridge Texas Gas LLC144A | 8.50 | &nbsp;&nbsp; 2-15-2030 | 210000 | &nbsp;&nbsp; 215767 |
| &nbsp;&nbsp;&nbsp; Kraken Oil & Gas Partners LLC144A | 7.63 | &nbsp;&nbsp; 8-15-2029 | 280000 | &nbsp;&nbsp; 274519 |
| &nbsp;&nbsp;&nbsp; Murphy Oil Corp. | 6.00 | &nbsp;&nbsp; 10-1-2032 | 500000 | &nbsp;&nbsp; 479816 |
| &nbsp;&nbsp;&nbsp; Nabors Industries Ltd.144A | 7.50 | &nbsp;&nbsp; 1-15-2028 | 325000 | &nbsp;&nbsp; 299905 |
| &nbsp;&nbsp;&nbsp; Nabors Industries, Inc.144A | 9.13 | &nbsp;&nbsp; 1-31-2030 | 505000 | &nbsp;&nbsp; 499816 |
|  |  |  |  | &nbsp;&nbsp; **4592462** |
| **Oil & gas services: 1.01%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Archrock Partners LP/Archrock Partners Finance <br> Corp.144A<br>| 6.63 | &nbsp;&nbsp; 9-1-2032 | 710000 | &nbsp;&nbsp; 720527 |
| &nbsp;&nbsp;&nbsp; Bristow Group, Inc.144A | 6.88 | &nbsp;&nbsp; 3-1-2028 | 1570000 | &nbsp;&nbsp; 1573716 |
| &nbsp;&nbsp;&nbsp; Oceaneering International, Inc. | 6.00 | &nbsp;&nbsp; 2-1-2028 | 520000 | &nbsp;&nbsp; 523020 |
|  |  |  |  | &nbsp;&nbsp; **2817263** |
| **Pipelines: 4.33%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Antero Midstream Partners LP/Antero Midstream Finance <br> Corp.144A<br>| 6.63 | &nbsp;&nbsp; 2-1-2032 | 275000 | &nbsp;&nbsp; 282689 |
| &nbsp;&nbsp;&nbsp; Boardwalk Pipelines LP | 4.80 | &nbsp;&nbsp; 5-3-2029 | 750000 | &nbsp;&nbsp; 755519 |
| &nbsp;&nbsp;&nbsp; Buckeye Partners LP | 5.85 | &nbsp;&nbsp; 11-15-2043 | 1125000 | &nbsp;&nbsp; 1000182 |
| &nbsp;&nbsp;&nbsp; Buckeye Partners LP144A | 6.88 | &nbsp;&nbsp; 7-1-2029 | 20000 | &nbsp;&nbsp; 20588 |
| &nbsp;&nbsp;&nbsp; CQP Holdco LP/BIP-V Chinook Holdco LLC144A | 5.50 | &nbsp;&nbsp; 6-15-2031 | 960000 | &nbsp;&nbsp; 937841 |
| &nbsp;&nbsp;&nbsp; CQP Holdco LP/BIP-V Chinook Holdco LLC144A | 7.50 | &nbsp;&nbsp; 12-15-2033 | 765000 | &nbsp;&nbsp; 814697 |
| &nbsp;&nbsp;&nbsp; Excelerate Energy LP144A | 8.00 | &nbsp;&nbsp; 5-15-2030 | 555000 | &nbsp;&nbsp; 581003 |
| &nbsp;&nbsp;&nbsp; Harvest Midstream I LP144A | 7.50 | &nbsp;&nbsp; 9-1-2028 | 825000 | &nbsp;&nbsp; 835041 |
| &nbsp;&nbsp;&nbsp; Hess Midstream Operations LP144A | 5.50 | &nbsp;&nbsp; 10-15-2030 | 300000 | &nbsp;&nbsp; 301305 |
| &nbsp;&nbsp;&nbsp; Hess Midstream Operations LP144A | 6.50 | &nbsp;&nbsp; 6-1-2029 | 175000 | &nbsp;&nbsp; 180268 |
| &nbsp;&nbsp;&nbsp; Kinetik Holdings LP144A | 5.88 | &nbsp;&nbsp; 6-15-2030 | 600000 | &nbsp;&nbsp; 600485 |
| &nbsp;&nbsp;&nbsp; Prairie Acquiror LP144A | 9.00 | &nbsp;&nbsp; 8-1-2029 | 375000 | &nbsp;&nbsp; 388421 |
| &nbsp;&nbsp;&nbsp; Rockies Express Pipeline LLC144A | 6.75 | &nbsp;&nbsp; 3-15-2033 | 300000 | &nbsp;&nbsp; 311641 |
| &nbsp;&nbsp;&nbsp; Rockies Express Pipeline LLC144A | 6.88 | &nbsp;&nbsp; 4-15-2040 | 1440000 | &nbsp;&nbsp; 1449500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tallgrass Energy Partners LP/Tallgrass Energy Finance <br> Corp.144A<br>| 6.00 | &nbsp;&nbsp; 12-31-2030 | 1300000 | &nbsp;&nbsp; 1273676 |
| &nbsp;&nbsp;&nbsp; Venture Global Calcasieu Pass LLC144A | 6.25 | &nbsp;&nbsp; 1-15-2030 | 400000 | &nbsp;&nbsp; 410804 |
| &nbsp;&nbsp;&nbsp; Venture Global LNG, Inc.144A | 8.38 | &nbsp;&nbsp; 6-1-2031 | 1025000 | &nbsp;&nbsp; 1060217 |
| &nbsp;&nbsp;&nbsp; Venture Global LNG, Inc.144A | 9.88 | &nbsp;&nbsp; 2-1-2032 | 820000 | &nbsp;&nbsp; 884734 |
|  |  |  |  | &nbsp;&nbsp; **12088611** |

---

See accompanying notes to portfolio of investments

Allspring Multi-Sector Income Fund \| 7

------

Portfolio of investments—July 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Financial: 13.64%** |  |  |  |  |
| **Banks: 0.51%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc. Series X (5 Year Treasury Constant <br> Maturity+3.42%)ʊ±<br>| 3.88<br> %<br>| &nbsp;&nbsp; 2-18-2026 | $935000 | &nbsp;&nbsp; $924008 |
| &nbsp;&nbsp;&nbsp; Santander Holdings USA, Inc. (U.S. SOFR+1.88%)± | 5.74 | &nbsp;&nbsp; 3-20-2031 | 500000 | &nbsp;&nbsp; 514478 |
|  |  |  |  | &nbsp;&nbsp; **1438486** |
| **Diversified financial services: 4.99%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aircastle Ltd. Series A (5 Year Treasury Constant <br> Maturity+4.41%)144Aʊ±<br>| 5.25 | &nbsp;&nbsp; 6-15-2026 | 1290000 | &nbsp;&nbsp; 1281073 |
| &nbsp;&nbsp;&nbsp; Azorra Finance Ltd.144A | 7.25 | &nbsp;&nbsp; 1-15-2031 | 485000 | &nbsp;&nbsp; 495006 |
| &nbsp;&nbsp;&nbsp; Encore Capital Group, Inc.144A | 9.25 | &nbsp;&nbsp; 4-1-2029 | 800000 | &nbsp;&nbsp; 842593 |
| &nbsp;&nbsp;&nbsp; EZCORP, Inc.144A | 7.38 | &nbsp;&nbsp; 4-1-2032 | 495000 | &nbsp;&nbsp; 515523 |
| &nbsp;&nbsp;&nbsp; Global Aircraft Leasing Co. Ltd.144A | 8.75 | &nbsp;&nbsp; 9-1-2027 | 960000 | &nbsp;&nbsp; 991332 |
| &nbsp;&nbsp;&nbsp; Jane Street Group/JSG Finance, Inc.144A | 6.13 | &nbsp;&nbsp; 11-1-2032 | 340000 | &nbsp;&nbsp; 337336 |
| &nbsp;&nbsp;&nbsp; Jane Street Group/JSG Finance, Inc.144A | 6.75 | &nbsp;&nbsp; 5-1-2033 | 335000 | &nbsp;&nbsp; 342833 |
| &nbsp;&nbsp;&nbsp; Jane Street Group/JSG Finance, Inc.144A | 7.13 | &nbsp;&nbsp; 4-30-2031 | 765000 | &nbsp;&nbsp; 790111 |
| &nbsp;&nbsp;&nbsp; Jefferies Finance LLC/JFIN Co-Issuer Corp.144A | 5.00 | &nbsp;&nbsp; 8-15-2028 | 575000 | &nbsp;&nbsp; 554499 |
| &nbsp;&nbsp;&nbsp; Jefferies Finance LLC/JFIN Co-Issuer Corp.144A | 6.63 | &nbsp;&nbsp; 10-15-2031 | 480000 | &nbsp;&nbsp; 477560 |
| &nbsp;&nbsp;&nbsp; Jefferson Capital Holdings LLC144A | 8.25 | &nbsp;&nbsp; 5-15-2030 | 295000 | &nbsp;&nbsp; 307786 |
| &nbsp;&nbsp;&nbsp; Jefferson Capital Holdings LLC144A | 9.50 | &nbsp;&nbsp; 2-15-2029 | 625000 | &nbsp;&nbsp; 659540 |
| &nbsp;&nbsp;&nbsp; Nationstar Mortgage Holdings, Inc.144A | 6.50 | &nbsp;&nbsp; 8-1-2029 | 200000 | &nbsp;&nbsp; 204562 |
| &nbsp;&nbsp;&nbsp; Nationstar Mortgage Holdings, Inc.144A | 7.13 | &nbsp;&nbsp; 2-1-2032 | 825000 | &nbsp;&nbsp; 861504 |
| &nbsp;&nbsp;&nbsp; Navient Corp. | 11.50 | &nbsp;&nbsp; 3-15-2031 | 875000 | &nbsp;&nbsp; 984421 |
| &nbsp;&nbsp;&nbsp; OneMain Finance Corp. | 7.88 | &nbsp;&nbsp; 3-15-2030 | 955000 | &nbsp;&nbsp; 1005292 |
| &nbsp;&nbsp;&nbsp; PRA Group, Inc.144A | 5.00 | &nbsp;&nbsp; 10-1-2029 | 561000 | &nbsp;&nbsp; 518305 |
| &nbsp;&nbsp;&nbsp; Rocket Cos., Inc.144A | 6.13 | &nbsp;&nbsp; 8-1-2030 | 340000 | &nbsp;&nbsp; 344744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, <br> Inc.144A<br>| 4.00 | &nbsp;&nbsp; 10-15-2033 | 665000 | &nbsp;&nbsp; 588346 |
| &nbsp;&nbsp;&nbsp; Synchrony Financial | 5.15 | &nbsp;&nbsp; 3-19-2029 | 750000 | &nbsp;&nbsp; 753317 |
| &nbsp;&nbsp;&nbsp; United Wholesale Mortgage LLC144A | 5.50 | &nbsp;&nbsp; 4-15-2029 | 1100000 | &nbsp;&nbsp; 1075954 |
|  |  |  |  | &nbsp;&nbsp; **13931637** |
| **Insurance: 3.48%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate LLC/Alliant Holdings Co-<br> Issuer144A<br>| 7.38 | &nbsp;&nbsp; 10-1-2032 | 1550000 | &nbsp;&nbsp; 1593364 |
| &nbsp;&nbsp;&nbsp; AmWINS Group, Inc.144A | 6.38 | &nbsp;&nbsp; 2-15-2029 | 530000 | &nbsp;&nbsp; 539712 |
| &nbsp;&nbsp;&nbsp; Assurant, Inc. | 3.70 | &nbsp;&nbsp; 2-22-2030 | 750000 | &nbsp;&nbsp; 713552 |
| &nbsp;&nbsp;&nbsp; Athene Holding Ltd. | 4.13 | &nbsp;&nbsp; 1-12-2028 | 750000 | &nbsp;&nbsp; 743441 |
| &nbsp;&nbsp;&nbsp; Brighthouse Financial, Inc. | 4.70 | &nbsp;&nbsp; 6-22-2047 | 850000 | &nbsp;&nbsp; 629969 |
| &nbsp;&nbsp;&nbsp; HUB International Ltd.144A | 5.63 | &nbsp;&nbsp; 12-1-2029 | 415000 | &nbsp;&nbsp; 412056 |
| &nbsp;&nbsp;&nbsp; HUB International Ltd.144A | 7.25 | &nbsp;&nbsp; 6-15-2030 | 135000 | &nbsp;&nbsp; 140729 |
| &nbsp;&nbsp;&nbsp; HUB International Ltd.144A | 7.38 | &nbsp;&nbsp; 1-31-2032 | 1000000 | &nbsp;&nbsp; 1041249 |
| &nbsp;&nbsp;&nbsp; Liberty Mutual Group, Inc.144A | 4.57 | &nbsp;&nbsp; 2-1-2029 | 750000 | &nbsp;&nbsp; 749205 |
| &nbsp;&nbsp;&nbsp; MetLife, Inc. | 6.40 | &nbsp;&nbsp; 12-15-2036 | 1000000 | &nbsp;&nbsp; 1041070 |
| &nbsp;&nbsp;&nbsp; Panther Escrow Issuer LLC144A | 7.13 | &nbsp;&nbsp; 6-1-2031 | 595000 | &nbsp;&nbsp; 615288 |
| &nbsp;&nbsp;&nbsp; Prudential Financial, Inc. (3 Month LIBOR+2.38%)± | 4.50 | &nbsp;&nbsp; 9-15-2047 | 750000 | &nbsp;&nbsp; 738150 |
| &nbsp;&nbsp;&nbsp; Sammons Financial Group, Inc.144A | 4.45 | &nbsp;&nbsp; 5-12-2027 | 750000 | &nbsp;&nbsp; 744605 |
|  |  |  |  | &nbsp;&nbsp; **9702390** |

---

See accompanying notes to portfolio of investments

8 \| Allspring Multi-Sector Income Fund

------

Portfolio of investments—July 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Investment Companies: 0.18%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Golub Capital Private Credit Fund BDC | 5.88<br> %<br>| &nbsp;&nbsp; 5-1-2030 | $500000 | &nbsp;&nbsp; **$501971** |
| **REITs: 4.48%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Blackstone Mortgage Trust, Inc.144A | 7.75 | &nbsp;&nbsp; 12-1-2029 | 600000 | &nbsp;&nbsp; 634252 |
| &nbsp;&nbsp;&nbsp; Brandywine Operating Partnership LP | 8.88 | &nbsp;&nbsp; 4-12-2029 | 1385000 | &nbsp;&nbsp; 1485054 |
| &nbsp;&nbsp;&nbsp; Iron Mountain, Inc.144A | 4.50 | &nbsp;&nbsp; 2-15-2031 | 1330000 | &nbsp;&nbsp; 1257796 |
| &nbsp;&nbsp;&nbsp; Iron Mountain, Inc.144A | 5.25 | &nbsp;&nbsp; 7-15-2030 | 1675000 | &nbsp;&nbsp; 1646076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ladder Capital Finance Holdings LLLP/Ladder Capital <br> Finance Corp.144A<br>| 7.00 | &nbsp;&nbsp; 7-15-2031 | 1020000 | &nbsp;&nbsp; 1068266 |
| &nbsp;&nbsp;&nbsp; MPT Operating Partnership LP/MPT Finance Corp.144A | 8.50 | &nbsp;&nbsp; 2-15-2032 | 690000 | &nbsp;&nbsp; 717190 |
| &nbsp;&nbsp;&nbsp; Omega Healthcare Investors, Inc. | 4.50 | &nbsp;&nbsp; 4-1-2027 | 600000 | &nbsp;&nbsp; 599245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Park Intermediate Holdings LLC/PK Domestic <br> Property LLC/PK Finance Co-Issuer144A<br>| 7.00 | &nbsp;&nbsp; 2-1-2030 | 250000 | &nbsp;&nbsp; 256025 |
| &nbsp;&nbsp;&nbsp; Piedmont Operating Partnership LP | 2.75 | &nbsp;&nbsp; 4-1-2032 | 350000 | &nbsp;&nbsp; 292813 |
| &nbsp;&nbsp;&nbsp; RHP Hotel Properties LP/RHP Finance Corp.144A | 6.50 | &nbsp;&nbsp; 6-15-2033 | 505000 | &nbsp;&nbsp; 517159 |
| &nbsp;&nbsp;&nbsp; Service Properties Trust | 8.38 | &nbsp;&nbsp; 6-15-2029 | 330000 | &nbsp;&nbsp; 341944 |
| &nbsp;&nbsp;&nbsp; Service Properties Trust144A | 8.63 | &nbsp;&nbsp; 11-15-2031 | 1600000 | &nbsp;&nbsp; 1703901 |
| &nbsp;&nbsp;&nbsp; Starwood Property Trust, Inc.144A | 6.50 | &nbsp;&nbsp; 7-1-2030 | 850000 | &nbsp;&nbsp; 874292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniti Group LP/Uniti Fiber Holdings, Inc./CSL <br> Capital LLC144A<br>| 6.00 | &nbsp;&nbsp; 1-15-2030 | 270000 | &nbsp;&nbsp; 255501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniti Group LP/Uniti Group Finance 2019, Inc./CSL <br> Capital LLC144A<br>| 8.63 | &nbsp;&nbsp; 6-15-2032 | 280000 | &nbsp;&nbsp; 283997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uniti Group LP/Uniti Group Finance 2019, Inc./CSL <br> Capital LLC144A<br>| 10.50 | &nbsp;&nbsp; 2-15-2028 | 534000 | &nbsp;&nbsp; 564373 |
|  |  |  |  | &nbsp;&nbsp; **12497884** |
| **Industrial: 6.38%** |  |  |  |  |
| **Aerospace/defense: 1.10%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Spirit AeroSystems, Inc.144A | 9.75 | &nbsp;&nbsp; 11-15-2030 | 890000 | &nbsp;&nbsp; 978825 |
| &nbsp;&nbsp;&nbsp; TransDigm, Inc.144A | 6.63 | &nbsp;&nbsp; 3-1-2032 | 2035000 | &nbsp;&nbsp; 2092527 |
|  |  |  |  | &nbsp;&nbsp; **3071352** |
| **Building materials: 1.40%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Builders FirstSource, Inc.144A | 6.38 | &nbsp;&nbsp; 3-1-2034 | 715000 | &nbsp;&nbsp; 725517 |
| &nbsp;&nbsp;&nbsp; Camelot Return Merger Sub, Inc.144A | 8.75 | &nbsp;&nbsp; 8-1-2028 | 650000 | &nbsp;&nbsp; 595575 |
| &nbsp;&nbsp;&nbsp; CP Atlas Buyer, Inc.144A | 9.75 | &nbsp;&nbsp; 7-15-2030 | 490000 | &nbsp;&nbsp; 494400 |
| &nbsp;&nbsp;&nbsp; EMRLD Borrower LP/Emerald Co-Issuer, Inc.144A | 6.63 | &nbsp;&nbsp; 12-15-2030 | 1030000 | &nbsp;&nbsp; 1050197 |
| &nbsp;&nbsp;&nbsp; Quikrete Holdings, Inc.144A | 6.38 | &nbsp;&nbsp; 3-1-2032 | 245000 | &nbsp;&nbsp; 251271 |
| &nbsp;&nbsp;&nbsp; Quikrete Holdings, Inc.144A | 6.75 | &nbsp;&nbsp; 3-1-2033 | 535000 | &nbsp;&nbsp; 548709 |
| &nbsp;&nbsp;&nbsp; Standard Building Solutions, Inc.144A | 6.25 | &nbsp;&nbsp; 8-1-2033 | 235000 | &nbsp;&nbsp; 237239 |
|  |  |  |  | &nbsp;&nbsp; **3902908** |
| **Electrical components & equipment: 0.77%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Energizer Holdings, Inc.144A | 4.38 | &nbsp;&nbsp; 3-31-2029 | 1155000 | &nbsp;&nbsp; 1094999 |
| &nbsp;&nbsp;&nbsp; WESCO Distribution, Inc.144A | 6.63 | &nbsp;&nbsp; 3-15-2032 | 1015000 | &nbsp;&nbsp; 1047287 |
|  |  |  |  | &nbsp;&nbsp; **2142286** |

---

See accompanying notes to portfolio of investments

Allspring Multi-Sector Income Fund \| 9

------

Portfolio of investments—July 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Electronics: 0.33%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Keysight Technologies, Inc. | 4.60<br> %<br>| &nbsp;&nbsp; 4-6-2027 | $600000 | &nbsp;&nbsp; $600669 |
| &nbsp;&nbsp;&nbsp; Sensata Technologies, Inc.144A | 6.63 | &nbsp;&nbsp; 7-15-2032 | 300000 | &nbsp;&nbsp; 306539 |
|  |  |  |  | &nbsp;&nbsp; **907208** |
| **Environmental control: 0.22%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Clean Harbors, Inc.144A | 6.38 | &nbsp;&nbsp; 2-1-2031 | 615000 | &nbsp;&nbsp; **627947** |
| **Machinery-diversified: 0.46%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Chart Industries, Inc.144A | 7.50 | &nbsp;&nbsp; 1-1-2030 | 300000 | &nbsp;&nbsp; 314259 |
| &nbsp;&nbsp;&nbsp; Chart Industries, Inc.144A | 9.50 | &nbsp;&nbsp; 1-1-2031 | 510000 | &nbsp;&nbsp; 545406 |
| &nbsp;&nbsp;&nbsp; TK Elevator U.S. Newco, Inc.144A | 5.25 | &nbsp;&nbsp; 7-15-2027 | 420000 | &nbsp;&nbsp; 418122 |
|  |  |  |  | &nbsp;&nbsp; **1277787** |
| **Packaging & containers: 1.06%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ardagh Metal Packaging Finance USA LLC/Ardagh Metal <br> Packaging Finance PLC144A<br>| 6.00 | &nbsp;&nbsp; 6-15-2027 | 1085000 | &nbsp;&nbsp; 1085956 |
| &nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings, Inc.144A | 6.88 | &nbsp;&nbsp; 1-15-2030 | 285000 | &nbsp;&nbsp; 291450 |
| &nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings, Inc.144A | 8.75 | &nbsp;&nbsp; 4-15-2030 | 485000 | &nbsp;&nbsp; 494980 |
| &nbsp;&nbsp;&nbsp; Graham Packaging Co., Inc.144A | 7.13 | &nbsp;&nbsp; 8-15-2028 | 475000 | &nbsp;&nbsp; 474262 |
| &nbsp;&nbsp;&nbsp; Sealed Air Corp./Sealed Air Corp. U.S.144A | 7.25 | &nbsp;&nbsp; 2-15-2031 | 600000 | &nbsp;&nbsp; 623643 |
|  |  |  |  | &nbsp;&nbsp; **2970291** |
| **Transportation: 0.28%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Genesee & Wyoming, Inc.144A | 6.25 | &nbsp;&nbsp; 4-15-2032 | 780000 | &nbsp;&nbsp; **788992** |
| **Trucking & leasing: 0.76%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; FTAI Aviation Investors LLC144A | 5.50 | &nbsp;&nbsp; 5-1-2028 | 700000 | &nbsp;&nbsp; 698310 |
| &nbsp;&nbsp;&nbsp; FTAI Aviation Investors LLC144A | 7.00 | &nbsp;&nbsp; 5-1-2031 | 1000000 | &nbsp;&nbsp; 1037546 |
| &nbsp;&nbsp;&nbsp; FTAI Aviation Investors LLC144A | 7.00 | &nbsp;&nbsp; 6-15-2032 | 365000 | &nbsp;&nbsp; 377998 |
|  |  |  |  | &nbsp;&nbsp; **2113854** |
| **Technology: 4.24%** |  |  |  |  |
| **Computers: 0.83%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Booz Allen Hamilton, Inc. | 5.95 | &nbsp;&nbsp; 4-15-2035 | 500000 | &nbsp;&nbsp; 510479 |
| &nbsp;&nbsp;&nbsp; Dell International LLC/EMC Corp. | 6.02 | &nbsp;&nbsp; 6-15-2026 | 536000 | &nbsp;&nbsp; 540639 |
| &nbsp;&nbsp;&nbsp; Diebold Nixdorf, Inc.144A | 7.75 | &nbsp;&nbsp; 3-31-2030 | 740000 | &nbsp;&nbsp; 785130 |
| &nbsp;&nbsp;&nbsp; Insight Enterprises, Inc.144A | 6.63 | &nbsp;&nbsp; 5-15-2032 | 470000 | &nbsp;&nbsp; 480634 |
|  |  |  |  | &nbsp;&nbsp; **2316882** |
| **Office/business equipment: 0.29%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Zebra Technologies Corp.144A | 6.50 | &nbsp;&nbsp; 6-1-2032 | 775000 | &nbsp;&nbsp; **794357** |
| **Semiconductors: 0.62%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Broadcom Corp./Broadcom Cayman Finance Ltd. | 3.50 | &nbsp;&nbsp; 1-15-2028 | 750000 | &nbsp;&nbsp; 733941 |
| &nbsp;&nbsp;&nbsp; Entegris, Inc.144A | 4.75 | &nbsp;&nbsp; 4-15-2029 | 500000 | &nbsp;&nbsp; 489767 |
| &nbsp;&nbsp;&nbsp; Entegris, Inc.144A | 5.95 | &nbsp;&nbsp; 6-15-2030 | 510000 | &nbsp;&nbsp; 514569 |
|  |  |  |  | &nbsp;&nbsp; **1738277** |

---

See accompanying notes to portfolio of investments

10 \| Allspring Multi-Sector Income Fund

------

Portfolio of investments—July 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Software: 2.50%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AthenaHealth Group, Inc.144A | 6.50<br> %<br>| &nbsp;&nbsp; 2-15-2030 | $500000 | &nbsp;&nbsp; $491526 |
| &nbsp;&nbsp;&nbsp; Cloud Software Group, Inc.144A | 6.50 | &nbsp;&nbsp; 3-31-2029 | 620000 | &nbsp;&nbsp; 626129 |
| &nbsp;&nbsp;&nbsp; Cloud Software Group, Inc.144A | 8.25 | &nbsp;&nbsp; 6-30-2032 | 1035000 | &nbsp;&nbsp; 1102100 |
| &nbsp;&nbsp;&nbsp; Cloud Software Group, Inc.144A | 9.00 | &nbsp;&nbsp; 9-30-2029 | 1380000 | &nbsp;&nbsp; 1428108 |
| &nbsp;&nbsp;&nbsp; Ellucian Holdings, Inc.144A | 6.50 | &nbsp;&nbsp; 12-1-2029 | 760000 | &nbsp;&nbsp; 769892 |
| &nbsp;&nbsp;&nbsp; Rocket Software, Inc.144A | 6.50 | &nbsp;&nbsp; 2-15-2029 | 205000 | &nbsp;&nbsp; 199324 |
| &nbsp;&nbsp;&nbsp; Rocket Software, Inc.144A | 9.00 | &nbsp;&nbsp; 11-28-2028 | 725000 | &nbsp;&nbsp; 748167 |
| &nbsp;&nbsp;&nbsp; SS&C Technologies, Inc.144A | 6.50 | &nbsp;&nbsp; 6-1-2032 | 850000 | &nbsp;&nbsp; 874002 |
| &nbsp;&nbsp;&nbsp; VMware LLC | 3.90 | &nbsp;&nbsp; 8-21-2027 | 750000 | &nbsp;&nbsp; 741343 |
|  |  |  |  | &nbsp;&nbsp; **6980591** |
| **Utilities: 3.81%** |  |  |  |  |
| **Electric: 3.50%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AES Corp. (5 Year Treasury Constant Maturity+2.89%)± | 6.95 | &nbsp;&nbsp; 7-15-2055 | 640000 | &nbsp;&nbsp; 616654 |
| &nbsp;&nbsp;&nbsp; AES Corp. (5 Year Treasury Constant Maturity+3.20%)± | 7.60 | &nbsp;&nbsp; 1-15-2055 | 860000 | &nbsp;&nbsp; 868638 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Edison International (5 Year Treasury Constant <br> Maturity+3.86%)±<br>| 8.13 | &nbsp;&nbsp; 6-15-2053 | 670000 | &nbsp;&nbsp; 656986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EUSHI Finance, Inc. (5 Year Treasury Constant <br> Maturity+3.14%)±<br>| 7.63 | &nbsp;&nbsp; 12-15-2054 | 945000 | &nbsp;&nbsp; 987362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pattern Energy Operations LP/Pattern Energy Operations, <br> Inc.144A<br>| 4.50 | &nbsp;&nbsp; 8-15-2028 | 1385000 | &nbsp;&nbsp; 1342735 |
| &nbsp;&nbsp;&nbsp; PG&E Corp. | 5.25 | &nbsp;&nbsp; 7-1-2030 | 1075000 | &nbsp;&nbsp; 1031146 |
| &nbsp;&nbsp;&nbsp; PG&E Corp. (5 Year Treasury Constant Maturity+3.88%)± | 7.38 | &nbsp;&nbsp; 3-15-2055 | 985000 | &nbsp;&nbsp; 950508 |
| &nbsp;&nbsp;&nbsp; Sempra (5 Year Treasury Constant Maturity+2.87%)± | 4.13 | &nbsp;&nbsp; 4-1-2052 | 510000 | &nbsp;&nbsp; 492492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vistra Corp. (5 Year Treasury Constant <br> Maturity+5.74%)144Aʊ±<br>| 7.00 | &nbsp;&nbsp; 12-15-2026 | 505000 | &nbsp;&nbsp; 509930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vistra Corp. Series C (5 Year Treasury Constant <br> Maturity+5.05%)144Aʊ±<br>| 8.88 | &nbsp;&nbsp; 1-15-2029 | 600000 | &nbsp;&nbsp; 650267 |
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC144A | 7.75 | &nbsp;&nbsp; 10-15-2031 | 690000 | &nbsp;&nbsp; 730290 |
| &nbsp;&nbsp;&nbsp; XPLR Infrastructure Operating Partners LP144A | 7.25 | &nbsp;&nbsp; 1-15-2029 | 905000 | &nbsp;&nbsp; 922922 |
|  |  |  |  | &nbsp;&nbsp; **9759930** |
| **Gas: 0.31%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Venture Global Plaquemines LNG LLC144A | 7.50 | &nbsp;&nbsp; 5-1-2033 | 800000 | &nbsp;&nbsp; **863955** |
| **Total corporate bonds and notes (Cost $176,429,760)** |  |  |  | &nbsp;&nbsp; **178125390** |
| **Foreign corporate bonds and notes: 11.28%** |  |  |  |  |
| **Financial: 0.33%** |  |  |  |  |
| **Banks: 0.33%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Kreditanstalt fuer Wiederaufbau | 5.80 | &nbsp;&nbsp; 1-19-2028 | 17500000 | &nbsp;&nbsp; **930073** |
| **Government securities: 10.95%** |  |  |  |  |
| **Multi-national: 10.95%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Asian Development Bank | 6.00 | &nbsp;&nbsp; 2-5-2026 | 9000000 | &nbsp;&nbsp; 1542258 |
| &nbsp;&nbsp;&nbsp; Asian Infrastructure Investment Bank | 6.00 | &nbsp;&nbsp; 12-8-2031 | 185000000 | &nbsp;&nbsp; 2024424 |
| &nbsp;&nbsp;&nbsp; Asian Infrastructure Investment Bank | 7.20 | &nbsp;&nbsp; 7-2-2031 | 175000000 | &nbsp;&nbsp; 2034368 |
| &nbsp;&nbsp;&nbsp; European Bank for Reconstruction & Development | 6.30 | &nbsp;&nbsp; 10-26-2027 | 185000000 | &nbsp;&nbsp; 2103221 |
| &nbsp;&nbsp;&nbsp; European Investment Bank | 6.50 | &nbsp;&nbsp; 9-28-2032 | 63500000 | &nbsp;&nbsp; 3219133 |

---

See accompanying notes to portfolio of investments

Allspring Multi-Sector Income Fund \| 11

------

Portfolio of investments—July 31, 2025 (unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Principal | Value |
| **Multi-national**(continued) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; European Investment Bank | 7.25<br> %<br>| &nbsp;&nbsp; 1-23-2030 | ZAR | 45500000 | &nbsp;&nbsp; $2491930 |
| &nbsp;&nbsp;&nbsp; European Investment Bank | 8.00 | &nbsp;&nbsp; 5-5-2027 | ZAR | 49000000 | &nbsp;&nbsp; 2716977 |
| &nbsp;&nbsp;&nbsp; Inter-American Development Bank | 7.00 | &nbsp;&nbsp; 4-17-2033 | INR | 140000000 | &nbsp;&nbsp; 1630277 |
| &nbsp;&nbsp;&nbsp; International Bank for Reconstruction & Development | 5.75 | &nbsp;&nbsp; 1-14-2028 | BRL | 15000000 | &nbsp;&nbsp; 2308926 |
| &nbsp;&nbsp;&nbsp; International Bank for Reconstruction & Development | 6.75 | &nbsp;&nbsp; 2-9-2029 | ZAR | 60000000 | &nbsp;&nbsp; 3264986 |
| &nbsp;&nbsp;&nbsp; International Bank for Reconstruction & Development | 9.50 | &nbsp;&nbsp; 2-9-2029 | BRL | 22000000 | &nbsp;&nbsp; 3620469 |
| &nbsp;&nbsp;&nbsp; International Finance Corp. | 9.00 | &nbsp;&nbsp; 1-22-2036 | ZAR | 16000000 | &nbsp;&nbsp; 891247 |
| &nbsp;&nbsp;&nbsp; International Finance Corp. | 10.00 | &nbsp;&nbsp; 2-3-2027 | BRL | 7800000 | &nbsp;&nbsp; 1327444 |
| &nbsp;&nbsp;&nbsp; International Finance Corp. | 10.75 | &nbsp;&nbsp; 2-15-2028 | BRL | 8000000 | &nbsp;&nbsp; 1373925 |
|  |  |  |  |  | &nbsp;&nbsp; **30549585** |
| **Total foreign corporate bonds and notes (Cost $34,010,246)** |  |  |  |  | &nbsp;&nbsp; **31479658** |
| **Foreign government bonds: 18.55%** |  |  |  |  |  |
| **Colombia: 3.81%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Colombia TES | 6.00 | &nbsp;&nbsp; 4-28-2028 | COP | 9000000000 | &nbsp;&nbsp; 1959009 |
| &nbsp;&nbsp;&nbsp; Colombia TES | 7.75 | &nbsp;&nbsp; 9-18-2030 | COP | 17000000000 | &nbsp;&nbsp; 3562288 |
| &nbsp;&nbsp;&nbsp; Colombia TES | 13.25 | &nbsp;&nbsp; 2-9-2033 | COP | 20100000000 | &nbsp;&nbsp; 5117053 |
|  |  |  |  |  | &nbsp;&nbsp; **10638350** |
| **Hungary: 1.68%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Hungary | 6.75 | &nbsp;&nbsp; 10-22-2028 | HUF | 1630000000 | &nbsp;&nbsp; **4681990** |
| **Indonesia: 3.24%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Indonesia | 6.63 | &nbsp;&nbsp; 2-15-2034 | IDR | 30000000000 | &nbsp;&nbsp; 1827251 |
| &nbsp;&nbsp;&nbsp; Indonesia | 7.00 | &nbsp;&nbsp; 9-15-2030 | IDR | 115000000000 | &nbsp;&nbsp; 7211107 |
|  |  |  |  |  | &nbsp;&nbsp; **9038358** |
| **Mexico: 4.32%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Mexico | 7.50 | &nbsp;&nbsp; 5-26-2033 | MXN | 68500000 | &nbsp;&nbsp; 3297550 |
| &nbsp;&nbsp;&nbsp; Mexico | 7.75 | &nbsp;&nbsp; 5-29-2031 | MXN | 85000000 | &nbsp;&nbsp; 4274601 |
| &nbsp;&nbsp;&nbsp; Mexico | 8.00 | &nbsp;&nbsp; 7-31-2053 | MXN | 33500000 | &nbsp;&nbsp; 1446813 |
| &nbsp;&nbsp;&nbsp; Mexico | 8.50 | &nbsp;&nbsp; 5-31-2029 | MXN | 58000000 | &nbsp;&nbsp; 3058120 |
|  |  |  |  |  | &nbsp;&nbsp; **12077084** |
| **New Zealand: 1.35%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; New Zealand | 4.25 | &nbsp;&nbsp; 5-15-2034 | NZD | 6500000 | &nbsp;&nbsp; **3779294** |
| **Romania: 3.56%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Romania | 5.00 | &nbsp;&nbsp; 2-12-2029 | RON | 15800000 | &nbsp;&nbsp; 3299025 |
| &nbsp;&nbsp;&nbsp; Romania | 7.20 | &nbsp;&nbsp; 10-30-2033 | RON | 14850000 | &nbsp;&nbsp; 3313753 |
| &nbsp;&nbsp;&nbsp; Romania | 7.35 | &nbsp;&nbsp; 4-28-2031 | RON | 14750000 | &nbsp;&nbsp; 3316158 |
|  |  |  |  |  | &nbsp;&nbsp; **9928936** |
| **United Kingdom: 0.59%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.K. Gilts | 3.75 | &nbsp;&nbsp; 10-22-2053 | GBP | 1625000 | &nbsp;&nbsp; **1640787** |
| **Total foreign government bonds (Cost $53,616,752)** |  |  |  |  | &nbsp;&nbsp; **51784799** |

---

See accompanying notes to portfolio of investments

12 \| Allspring Multi-Sector Income Fund

------

Portfolio of investments—July 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Loans: 18.88%** |  |  |  |  |
| **Communications: 3.42%** |  |  |  |  |
| **Advertising: 0.36%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc. (U.S. SOFR 1 <br> Month+4.00%)±<br>| 8.47<br> %<br>| &nbsp;&nbsp; 8-23-2028 | $1000000 | &nbsp;&nbsp; **$995890** |
| **Internet: 0.71%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Arches Buyer, Inc. (U.S. SOFR 1 Month+3.25%)± | 7.71 | &nbsp;&nbsp; 12-6-2027 | 1369487 | &nbsp;&nbsp; 1367241 |
| &nbsp;&nbsp;&nbsp; Cablevision Lightpath LLC (U.S. SOFR 1 Month+3.00%)± | 7.34 | &nbsp;&nbsp; 11-30-2027 | 601975 | &nbsp;&nbsp; 602354 |
|  |  |  |  | &nbsp;&nbsp; **1969595** |
| **Media: 1.24%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC (U.S. SOFR 1 Month+4.50%)± | 8.84 | &nbsp;&nbsp; 1-18-2028 | 1512733 | &nbsp;&nbsp; 1506848 |
| &nbsp;&nbsp;&nbsp; DIRECTV Financing LLC (U.S. SOFR 3 Month+5.00%)± | 9.57 | &nbsp;&nbsp; 8-2-2027 | 87370 | &nbsp;&nbsp; 87518 |
| &nbsp;&nbsp;&nbsp; DIRECTV Financing LLC (U.S. SOFR 3 Month+5.25%)± | 9.82 | &nbsp;&nbsp; 8-2-2029 | 712912 | &nbsp;&nbsp; 706197 |
| &nbsp;&nbsp;&nbsp; EW Scripps Co. (U.S. SOFR 1 Month+5.75%)± | 10.21 | &nbsp;&nbsp; 6-30-2028 | 644125 | &nbsp;&nbsp; 650566 |
| &nbsp;&nbsp;&nbsp; Hubbard Radio LLC (U.S. SOFR 1 Month+4.50%)‡± | 8.86 | &nbsp;&nbsp; 9-30-2027 | 940147 | &nbsp;&nbsp; 519431 |
|  |  |  |  | &nbsp;&nbsp; **3470560** |
| **Telecommunications: 1.11%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; CommScope, Inc. (U.S. SOFR 1 Month+5.25%)± | 9.61 | &nbsp;&nbsp; 12-17-2029 | 1630000 | &nbsp;&nbsp; 1655575 |
| &nbsp;&nbsp;&nbsp; Connect Finco Sarl (U.S. SOFR 1 Month+3.50%)± | 7.86 | &nbsp;&nbsp; 12-11-2026 | 248099 | &nbsp;&nbsp; 247387 |
| &nbsp;&nbsp;&nbsp; Connect Finco Sarl (U.S. SOFR 1 Month+4.50%)± | 8.86 | &nbsp;&nbsp; 9-27-2029 | 380000 | &nbsp;&nbsp; 372221 |
| &nbsp;&nbsp;&nbsp; Lumen Technologies, Inc. (U.S. SOFR 1 Month+2.35%)± | 6.82 | &nbsp;&nbsp; 4-15-2030 | 837864 | &nbsp;&nbsp; 832234 |
|  |  |  |  | &nbsp;&nbsp; **3107417** |
| **Consumer, cyclical: 1.82%** |  |  |  |  |
| **Airlines: 0.42%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; SkyMiles IP Ltd. (U.S. SOFR 3 Month+3.75%)± | 8.08 | &nbsp;&nbsp; 10-20-2027 | 865922 | &nbsp;&nbsp; 869169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vista Management Holding, Inc. (U.S. SOFR 3 <br> Month+3.75%)±<br>| 8.04 | &nbsp;&nbsp; 4-1-2031 | 305000 | &nbsp;&nbsp; 306015 |
|  |  |  |  | &nbsp;&nbsp; **1175184** |
| **Auto parts & equipment: 0.13%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; First Brands Group LLC (U.S. SOFR 3 Month+5.00%)± | 9.57 | &nbsp;&nbsp; 3-30-2027 | 375716 | &nbsp;&nbsp; **366793** |
| **Entertainment: 0.71%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Cinemark USA, Inc. (U.S. SOFR 3 Month+2.25%)± | 6.55 | &nbsp;&nbsp; 5-24-2030 | 664818 | &nbsp;&nbsp; 666813 |
| &nbsp;&nbsp;&nbsp; Crown Finance U.S., Inc. (U.S. SOFR 1 Month+4.50%)± | 8.83 | &nbsp;&nbsp; 12-2-2031 | 1328325 | &nbsp;&nbsp; 1322972 |
|  |  |  |  | &nbsp;&nbsp; **1989785** |
| **Housewares: 0.24%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; American Greetings Corp. (U.S. SOFR 1 Month+5.75%)± | 10.11 | &nbsp;&nbsp; 10-30-2029 | 667233 | &nbsp;&nbsp; **667567** |
| **Leisure time: 0.18%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Sabre Global, Inc. (U.S. SOFR 1 Month+3.50%)± | 7.97 | &nbsp;&nbsp; 12-17-2027 | 503528 | &nbsp;&nbsp; **500069** |
| **Retail: 0.14%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Petco Health & Wellness Co., Inc. (U.S. SOFR 3 <br> Month+3.25%)±<br>| 7.81 | &nbsp;&nbsp; 3-3-2028 | 410000 | &nbsp;&nbsp; **382632** |

---

See accompanying notes to portfolio of investments

Allspring Multi-Sector Income Fund \| 13

------

Portfolio of investments—July 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Consumer, non-cyclical: 4.85%** |  |  |  |  |
| **Commercial services: 0.72%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC (U.S. SOFR 1 Month+3.75%)± | 8.21<br> %<br>| &nbsp;&nbsp; 5-12-2028 | $845612 | &nbsp;&nbsp; $846973 |
| &nbsp;&nbsp;&nbsp; GEO Group, Inc. (U.S. SOFR 1 Month+5.25%)± | 9.61 | &nbsp;&nbsp; 4-13-2029 | 523909 | &nbsp;&nbsp; 524433 |
| &nbsp;&nbsp;&nbsp; Hertz Corp. (U.S. SOFR 3 Month+3.50%)± | 8.07 | &nbsp;&nbsp; 6-30-2028 | 746749 | &nbsp;&nbsp; 631683 |
|  |  |  |  | &nbsp;&nbsp; **2003089** |
| **Cosmetics/Personal Care: 0.54%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Opal U.S. LLC (U.S. SOFR 3 Month+3.25%)± | 7.44 | &nbsp;&nbsp; 4-28-2032 | 1500000 | &nbsp;&nbsp; **1505070** |
| **Food: 0.54%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; B&G Foods, Inc. (U.S. SOFR 1 Month+3.50%)± | 7.86 | &nbsp;&nbsp; 10-10-2029 | 1645965 | &nbsp;&nbsp; **1517036** |
| **Healthcare-products: 0.61%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Bausch & Lomb Corp. (U.S. SOFR 1 Month+4.25%)± | 8.61 | &nbsp;&nbsp; 1-15-2031 | 100000 | &nbsp;&nbsp; 100275 |
| &nbsp;&nbsp;&nbsp; Medline Borrower LP (U.S. SOFR 1 Month+2.25%)± | 6.61 | &nbsp;&nbsp; 10-23-2028 | 1592527 | &nbsp;&nbsp; 1593530 |
|  |  |  |  | &nbsp;&nbsp; **1693805** |
| **Healthcare-services: 1.90%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Modivcare, Inc. (U.S. SOFR 3 Month+4.75%)± | 9.05 | &nbsp;&nbsp; 7-1-2031 | 1572059 | &nbsp;&nbsp; 969441 |
| &nbsp;&nbsp;&nbsp; Modivcare, Inc. (U.S. SOFR 3 Month+7.50%)± | 11.78 | &nbsp;&nbsp; 1-12-2026 | 272976 | &nbsp;&nbsp; 206269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MPH Acquisition Holdings LLC (U.S. SOFR 3 <br> Month+3.75%)±<br>| 8.06 | &nbsp;&nbsp; 12-31-2030 | 498750 | &nbsp;&nbsp; 495758 |
| &nbsp;&nbsp;&nbsp; Radiology Partners, Inc. (U.S. SOFR 3 Month+4.50%)± | 8.80 | &nbsp;&nbsp; 6-30-2032 | 1000000 | &nbsp;&nbsp; 1000160 |
| &nbsp;&nbsp;&nbsp; Star Parent, Inc. (U.S. SOFR 3 Month+4.00%)± | 8.30 | &nbsp;&nbsp; 9-27-2030 | 1308437 | &nbsp;&nbsp; 1292632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Surgery Center Holdings, Inc. (U.S. SOFR 1 <br> Month+2.75%)±<br>| 7.11 | &nbsp;&nbsp; 12-19-2030 | 1344464 | &nbsp;&nbsp; 1347691 |
|  |  |  |  | &nbsp;&nbsp; **5311951** |
| **Pharmaceuticals: 0.54%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Endo Luxembourg Finance Co. I Sarl (U.S. SOFR 1 <br> Month+4.00%)±<br>| 8.36 | &nbsp;&nbsp; 4-23-2031 | 1488750 | &nbsp;&nbsp; **1491355** |
| **Energy: 0.78%** |  |  |  |  |
| **Pipelines: 0.78%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AL NGPL Holdings LLC (U.S. SOFR 3 Month+2.50%)± | 6.78 | &nbsp;&nbsp; 12-9-2030 | 1181449 | &nbsp;&nbsp; 1183812 |
| &nbsp;&nbsp;&nbsp; Prairie Acquiror LP (U.S. SOFR 1 Month+3.75%)± | 8.11 | &nbsp;&nbsp; 8-1-2029 | 985135 | &nbsp;&nbsp; 990681 |
|  |  |  |  | &nbsp;&nbsp; **2174493** |
| **Financial: 1.89%** |  |  |  |  |
| **Insurance: 1.43%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Asurion LLC (U.S. SOFR 1 Month+3.25%)± | 7.72 | &nbsp;&nbsp; 7-31-2027 | 1480693 | &nbsp;&nbsp; 1479894 |
| &nbsp;&nbsp;&nbsp; Asurion LLC (U.S. SOFR 1 Month+5.25%)± | 9.72 | &nbsp;&nbsp; 1-31-2028 | 463792 | &nbsp;&nbsp; 444990 |
| &nbsp;&nbsp;&nbsp; BroadStreet Partners, Inc. (U.S. SOFR 1 Month+2.75%)± | 7.11 | &nbsp;&nbsp; 6-13-2031 | 871775 | &nbsp;&nbsp; 872272 |
| &nbsp;&nbsp;&nbsp; HUB International Ltd. (U.S. SOFR 3 Month+2.50%)± | 6.83 | &nbsp;&nbsp; 6-20-2030 | 919340 | &nbsp;&nbsp; 920075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Truist Insurance Holdings LLC (U.S. SOFR 3 <br> Month+4.75%)±<br>| 9.05 | &nbsp;&nbsp; 5-6-2032 | 276316 | &nbsp;&nbsp; 281773 |
|  |  |  |  | &nbsp;&nbsp; **3999004** |

---

See accompanying notes to portfolio of investments

14 \| Allspring Multi-Sector Income Fund

------

Portfolio of investments—July 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **REITs: 0.46%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blackstone Mortgage Trust, Inc. (U.S. SOFR 1 <br> Month+3.00%)±<br>| 7.36<br> %<br>| &nbsp;&nbsp; 12-10-2030 | $359100 | &nbsp;&nbsp; $360296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Starwood Property Trust, Inc. (U.S. SOFR 1 <br> Month+2.25%)±<br>| 6.61 | &nbsp;&nbsp; 11-18-2027 | 911748 | &nbsp;&nbsp; 910608 |
|  |  |  |  | &nbsp;&nbsp; **1270904** |
| **Industrial: 3.41%** |  |  |  |  |
| **Aerospace/defense: 1.98%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Azorra Soar TLB Finance Ltd. (U.S. SOFR 3 <br> Month+2.75%)‡±<br>| 7.00 | &nbsp;&nbsp; 10-18-2029 | 2000000 | &nbsp;&nbsp; 2001260 |
| &nbsp;&nbsp;&nbsp; Spirit AeroSystems, Inc. (U.S. SOFR 3 Month+4.50%)± | 8.81 | &nbsp;&nbsp; 1-15-2027 | 2528500 | &nbsp;&nbsp; 2531029 |
| &nbsp;&nbsp;&nbsp; TransDigm, Inc. (U.S. SOFR 3 Month+2.75%)± | 7.05 | &nbsp;&nbsp; 8-24-2028 | 997474 | &nbsp;&nbsp; 1000776 |
|  |  |  |  | &nbsp;&nbsp; **5533065** |
| **Building materials: 0.43%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cornerstone Building Brands, Inc. (U.S. SOFR 1 <br> Month+3.25%)±<br>| 7.69 | &nbsp;&nbsp; 4-12-2028 | 937592 | &nbsp;&nbsp; 853237 |
| &nbsp;&nbsp;&nbsp; Quikrete Holdings, Inc. (U.S. SOFR 1 Month+2.25%)± | 6.61 | &nbsp;&nbsp; 2-10-2032 | 354113 | &nbsp;&nbsp; 353670 |
|  |  |  |  | &nbsp;&nbsp; **1206907** |
| **Environmental control: 0.21%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; MIP V Waste Holdings LLC (U.S. SOFR 6 Month+3.00%)‡± | 7.20 | &nbsp;&nbsp; 12-8-2028 | 581471 | &nbsp;&nbsp; **582924** |
| **Machinery-diversified: 0.31%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; TK Elevator U.S. Newco, Inc. (U.S. SOFR 3 Month+3.00%)± | 7.31 | &nbsp;&nbsp; 4-30-2030 | 840537 | &nbsp;&nbsp; **844740** |
| **Packaging & containers: 0.48%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings, Inc. (U.S. SOFR 1 <br> Month+3.18%)±<br>| 7.53 | &nbsp;&nbsp; 4-13-2029 | 1345474 | &nbsp;&nbsp; **1344532** |
| **Technology: 2.71%** |  |  |  |  |
| **Computers: 0.23%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; McAfee Corp. (U.S. SOFR 1 Month+3.00%)± | 7.33 | &nbsp;&nbsp; 3-1-2029 | 669623 | &nbsp;&nbsp; **646045** |
| **Software: 2.48%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Applied Systems, Inc. (U.S. SOFR 3 Month+2.50%)± | 6.80 | &nbsp;&nbsp; 2-24-2031 | 2759305 | &nbsp;&nbsp; 2760270 |
| &nbsp;&nbsp;&nbsp; AthenaHealth Group, Inc. (U.S. SOFR 1 Month+2.75%)± | 7.11 | &nbsp;&nbsp; 2-15-2029 | 1049630 | &nbsp;&nbsp; 1048088 |
| &nbsp;&nbsp;&nbsp; Cloud Software Group, Inc. (U.S. SOFR 3 Month+3.50%)± | 7.80 | &nbsp;&nbsp; 3-29-2029 | 985478 | &nbsp;&nbsp; 986818 |
| &nbsp;&nbsp;&nbsp; Cloud Software Group, Inc. (U.S. SOFR 3 Month+3.75%)± | 8.05 | &nbsp;&nbsp; 3-21-2031 | 341125 | &nbsp;&nbsp; 342278 |
| &nbsp;&nbsp;&nbsp; Ellucian Holdings, Inc. (U.S. SOFR 1 Month+4.75%)‡± | 9.11 | &nbsp;&nbsp; 11-22-2032 | 500000 | &nbsp;&nbsp; 513750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Genesys Cloud Services, Inc. (U.S. SOFR 1 <br> Month+2.50%)±<br>| 6.86 | &nbsp;&nbsp; 1-30-2032 | 522375 | &nbsp;&nbsp; 521628 |
| &nbsp;&nbsp;&nbsp; Rocket Software, Inc. (U.S. SOFR 1 Month+3.75%)± | 8.11 | &nbsp;&nbsp; 11-28-2028 | 755447 | &nbsp;&nbsp; 756868 |
|  |  |  |  | &nbsp;&nbsp; **6929700** |
| **Total loans (Cost $53,340,434)** |  |  |  | &nbsp;&nbsp; **52680112** |
| **Non-agency mortgage-backed securities: 7.49%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Banc of America Funding Trust Series 2005-5 Class 1A1 | 5.50 | &nbsp;&nbsp; 9-25-2035 | 44619 | &nbsp;&nbsp; 44924 |
| &nbsp;&nbsp;&nbsp; Banc of America Funding Trust Series 2005-D Class A1±± | 5.43 | &nbsp;&nbsp; 5-25-2035 | 75643 | &nbsp;&nbsp; 70245 |

---

See accompanying notes to portfolio of investments

Allspring Multi-Sector Income Fund \| 15

------

Portfolio of investments—July 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Non-agency mortgage-backed securities**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banc of America Mortgage Trust Series 2003-C <br> Class 1A1±±<br>| 6.87<br> %<br>| &nbsp;&nbsp; 4-25-2033 | $168850 | &nbsp;&nbsp; $93962 |
| &nbsp;&nbsp;&nbsp; Bank Series 2017-BNK6 Class D144A | 3.10 | &nbsp;&nbsp; 7-15-2060 | 1000000 | &nbsp;&nbsp; 821130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust Series 2021-VOLT Class B <br> (U.S. SOFR 1 Month+1.06%)144A±<br>| 5.41 | &nbsp;&nbsp; 9-15-2036 | 968828 | &nbsp;&nbsp; 965195 |
| &nbsp;&nbsp;&nbsp; BX Trust Series 2019-OC11 Class D144A±± | 3.94 | &nbsp;&nbsp; 12-9-2041 | 700000 | &nbsp;&nbsp; 652392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Trust Series 2021-ARIA Class A (U.S. SOFR 1 <br> Month+1.01%)144A±<br>| 5.36 | &nbsp;&nbsp; 10-15-2036 | 1000000 | &nbsp;&nbsp; 999689 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Trust Series 2021-ARIA Class D (U.S. SOFR 1 <br> Month+2.01%)144A±<br>| 6.35 | &nbsp;&nbsp; 10-15-2036 | 525000 | &nbsp;&nbsp; 525000 |
| &nbsp;&nbsp;&nbsp; BX Trust Series 2022-CLS Class C144A | 6.79 | &nbsp;&nbsp; 10-13-2027 | 750000 | &nbsp;&nbsp; 733585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Trust Series 2024-BIO Class A (U.S. SOFR 1 <br> Month+1.64%)144A±<br>| 5.98 | &nbsp;&nbsp; 2-15-2041 | 1000000 | &nbsp;&nbsp; 1000612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Trust Series 2024-BIO Class C (U.S. SOFR 1 <br> Month+2.64%)144A±<br>| 6.98 | &nbsp;&nbsp; 2-15-2041 | 449000 | &nbsp;&nbsp; 447877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Trust Series 2025-VLT6 Class B (U.S. SOFR 1 <br> Month+1.89%)144A±<br>| 6.23 | &nbsp;&nbsp; 3-15-2042 | 1000000 | &nbsp;&nbsp; 999375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BXP Trust Series 2017-CQHP Class A (U.S. SOFR 1 <br> Month+0.90%)144A±<br>| 5.24 | &nbsp;&nbsp; 11-15-2034 | 344340 | &nbsp;&nbsp; 331689 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CHL Mortgage Pass-Through Trust Series 2003-48 <br> Class 2A2±±<br>| 7.12 | &nbsp;&nbsp; 10-25-2033 | 15606 | &nbsp;&nbsp; 7920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Citigroup Commercial Mortgage Trust Series 2012-GC8 <br> Class C144A±±<br>| 5.12 | &nbsp;&nbsp; 9-10-2045 | 813776 | &nbsp;&nbsp; 763639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Suisse First Boston Mortgage Securities Corp. <br> Series 2002-AR25 Class 1A1±±<br>| 3.76 | &nbsp;&nbsp; 9-25-2032 | 124463 | &nbsp;&nbsp; 111697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Suisse First Boston Mortgage Securities Corp. <br> Series 2003-AR15 Class 3A1±±<br>| 6.81 | &nbsp;&nbsp; 6-25-2033 | 7377 | &nbsp;&nbsp; 7571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Suisse First Boston Mortgage Securities Corp. <br> Series 2003-AR9 Class 2A2±±<br>| 6.28 | &nbsp;&nbsp; 3-25-2033 | 6370 | &nbsp;&nbsp; 6320 |
| &nbsp;&nbsp;&nbsp; CSMC Trust Series 2014-USA Class D144A | 4.37 | &nbsp;&nbsp; 9-15-2037 | 750000 | &nbsp;&nbsp; 560662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Global Mortgage Securitization Ltd. Series 2004-A Class A2 <br> (U.S. SOFR 1 Month+0.43%)144A±<br>| 4.79 | &nbsp;&nbsp; 11-25-2032 | 6974 | &nbsp;&nbsp; 6877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GS Mortgage Securities Corp. Trust Series 2020-DUNE <br> Class D (U.S. SOFR 1 Month+2.16%)144A±<br>| 6.51 | &nbsp;&nbsp; 12-15-2036 | 922142 | &nbsp;&nbsp; 899013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GS Mortgage Securities Corp. Trust Series 2021-DM Class A <br> (U.S. SOFR 1 Month+1.00%)144A±<br>| 5.34 | &nbsp;&nbsp; 11-15-2036 | 1000000 | &nbsp;&nbsp; 992500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GS Mortgage Securities Trust Series 2010-C1 <br> Class X144Aƒ±±<br>| 0.42 | &nbsp;&nbsp; 8-10-2043 | 287679 | &nbsp;&nbsp; 33 |
| &nbsp;&nbsp;&nbsp; GS Mortgage Securities Trust Series 2019-GSA1 Class C±± | 3.80 | &nbsp;&nbsp; 11-10-2052 | 1000000 | &nbsp;&nbsp; 906080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hudson's Bay Simon JV Trust Series 2015-HB10 <br> Class A10144A<br>| 4.15 | &nbsp;&nbsp; 8-5-2034 | 1000000 | &nbsp;&nbsp; 998791 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMBB Commercial Mortgage Securities Trust Series 2013-<br> C15 Class D144A±±<br>| 4.61 | &nbsp;&nbsp; 11-15-2045 | 171251 | &nbsp;&nbsp; 154129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase Commercial Mortgage Securities Trust <br> Series 2019-OSB Class A144A<br>| 3.40 | &nbsp;&nbsp; 6-5-2039 | 1000000 | &nbsp;&nbsp; 934219 |
| &nbsp;&nbsp;&nbsp; JPMorgan Mortgage Trust Series 2004-A3 Class 3A3±± | 5.32 | &nbsp;&nbsp; 7-25-2034 | 1647 | &nbsp;&nbsp; 1619 |
| &nbsp;&nbsp;&nbsp; JPMorgan Mortgage Trust Series 2005-A3 Class 11A2±± | 6.66 | &nbsp;&nbsp; 6-25-2035 | 47805 | &nbsp;&nbsp; 47911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MASTR Adjustable Rate Mortgages Trust Series 2003-6 <br> Class 3A1±±<br>| 4.27 | &nbsp;&nbsp; 12-25-2033 | 8357 | &nbsp;&nbsp; 8283 |

---

See accompanying notes to portfolio of investments

16 \| Allspring Multi-Sector Income Fund

------

Portfolio of investments—July 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Non-agency mortgage-backed securities**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MASTR Adjustable Rate Mortgages Trust Series 2003-6 <br> Class 4A2±±<br>| 4.40<br> %<br>| &nbsp;&nbsp; 1-25-2034 | $1545 | &nbsp;&nbsp; $1509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MASTR Adjustable Rate Mortgages Trust Series 2004-13 <br> Class 3A7±±<br>| 5.80 | &nbsp;&nbsp; 11-21-2034 | 2411 | &nbsp;&nbsp; 2317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MCR Mortgage Trust Series 2024-HF1 Class A (U.S. SOFR 1 <br> Month+1.79%)144A±<br>| 6.13 | &nbsp;&nbsp; 12-15-2041 | 1000000 | &nbsp;&nbsp; 1001250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Merrill Lynch Mortgage Investors Trust Series 2003-G <br> Class A2 (U.S. SOFR 6 Month+1.11%)±<br>| 5.38 | &nbsp;&nbsp; 1-25-2029 | 7255 | &nbsp;&nbsp; 7116 |
| &nbsp;&nbsp;&nbsp; MFA Trust Series 2022-NQM1 Class M1144A±± | 4.23 | &nbsp;&nbsp; 12-25-2066 | 1000000 | &nbsp;&nbsp; 863029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Capital I Trust Series 2014-150E <br> Class A144A<br>| 3.91 | &nbsp;&nbsp; 9-9-2032 | 1000000 | &nbsp;&nbsp; 893729 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Mortgage Loan Trust Series 2004-4 <br> Class 2A±±<br>| 6.23 | &nbsp;&nbsp; 9-25-2034 | 7319 | &nbsp;&nbsp; 7121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; One New York Plaza Trust Series 2020-1NYP Class A <br> (U.S. SOFR 1 Month+1.06%)144A±<br>| 5.41 | &nbsp;&nbsp; 1-15-2036 | 1000000 | &nbsp;&nbsp; 978377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SDAL Trust Series 2025-DAL Class B (U.S. SOFR 1 <br> Month+2.94%)144A±<br>| 7.28 | &nbsp;&nbsp; 4-15-2042 | 1000000 | &nbsp;&nbsp; 1006712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sequoia Mortgage Trust Series 2003-1 Class 1A (U.S. SOFR <br> 1 Month+0.87%)±<br>| 5.23 | &nbsp;&nbsp; 4-20-2033 | 1913 | &nbsp;&nbsp; 1794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SFAVE Commercial Mortgage Securities Trust Series 2015-<br> 5AVE Class D144A±±<br>| 4.39 | &nbsp;&nbsp; 1-5-2043 | 1000000 | &nbsp;&nbsp; 779979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SREIT Trust Series 2021-PALM Class B (U.S. SOFR 1 <br> Month+0.92%)144A±<br>| 5.27 | &nbsp;&nbsp; 10-15-2034 | 1000000 | &nbsp;&nbsp; 995937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Structured Adjustable Rate Mortgage Loan Trust <br> Series 2004-2 Class 2A±±<br>| 3.70 | &nbsp;&nbsp; 3-25-2034 | 8122 | &nbsp;&nbsp; 7049 |
| &nbsp;&nbsp;&nbsp; Vendee Mortgage Trust Series 2003-2ƒ±± | 0.42 | &nbsp;&nbsp; 5-15-2033 | 735067 | &nbsp;&nbsp; 7778 |
| &nbsp;&nbsp;&nbsp; Verus Securitization Trust Series 2021-1 Class A2144A±± | 1.05 | &nbsp;&nbsp; 1-25-2066 | 234743 | &nbsp;&nbsp; 209525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Washington Mutual MSC Mortgage Pass-Through <br> Certificates Trust Series 2004-RA4 Class 3A<br>| 7.50 | &nbsp;&nbsp; 7-25-2034 | 41025 | &nbsp;&nbsp; 42561 |
| &nbsp;&nbsp; **Total non-agency mortgage-backed securities** <br> **(Cost $22,047,435)**<br>|  |  |  | &nbsp;&nbsp; **20898722** |
| **Yankee corporate bonds and notes: 13.11%** |  |  |  |  |
| **Basic materials: 0.08%** |  |  |  |  |
| **Chemicals: 0.08%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Braskem Netherlands Finance BV144A | 8.50 | &nbsp;&nbsp; 1-12-2031 | 295000 | &nbsp;&nbsp; **232871** |
| **Communications: 3.40%** |  |  |  |  |
| **Internet: 1.16%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Prosus NV144A | 4.19 | &nbsp;&nbsp; 1-19-2032 | 1000000 | &nbsp;&nbsp; 941209 |
| &nbsp;&nbsp;&nbsp; Rakuten Group, Inc.144A | 9.75 | &nbsp;&nbsp; 4-15-2029 | 1155000 | &nbsp;&nbsp; 1264629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rakuten Group, Inc. (5 Year Treasury Constant <br> Maturity+4.25%)144Aʊ±<br>| 8.13 | &nbsp;&nbsp; 12-15-2029 | 1035000 | &nbsp;&nbsp; 1027045 |
|  |  |  |  | &nbsp;&nbsp; **3232883** |
| **Media: 0.79%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Virgin Media Finance PLC144A | 5.00 | &nbsp;&nbsp; 7-15-2030 | 320000 | &nbsp;&nbsp; 288458 |
| &nbsp;&nbsp;&nbsp; Virgin Media Secured Finance PLC144A | 4.50 | &nbsp;&nbsp; 8-15-2030 | 1190000 | &nbsp;&nbsp; 1106531 |

---

See accompanying notes to portfolio of investments

Allspring Multi-Sector Income Fund \| 17

------

Portfolio of investments—July 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Media**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Virgin Media Vendor Financing Notes IV DAC144A | 5.00<br> %<br>| &nbsp;&nbsp; 7-15-2028 | $205000 | &nbsp;&nbsp; $198808 |
| &nbsp;&nbsp;&nbsp; VZ Secured Financing BV144A | 5.00 | &nbsp;&nbsp; 1-15-2032 | 685000 | &nbsp;&nbsp; 602419 |
|  |  |  |  | &nbsp;&nbsp; **2196216** |
| **Telecommunications: 1.45%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rogers Communications, Inc. (5 Year Treasury Constant <br> Maturity+2.62%)±<br>| 7.13 | &nbsp;&nbsp; 4-15-2055 | 1450000 | &nbsp;&nbsp; 1483790 |
| &nbsp;&nbsp;&nbsp; Telecom Italia Capital SA | 7.20 | &nbsp;&nbsp; 7-18-2036 | 700000 | &nbsp;&nbsp; 733878 |
| &nbsp;&nbsp;&nbsp; TELUS Corp. (5 Year Treasury Constant Maturity+2.77%)± | 6.63 | &nbsp;&nbsp; 10-15-2055 | 825000 | &nbsp;&nbsp; 835447 |
| &nbsp;&nbsp;&nbsp; Zegona Finance PLC144A | 8.63 | &nbsp;&nbsp; 7-15-2029 | 950000 | &nbsp;&nbsp; 1011275 |
|  |  |  |  | &nbsp;&nbsp; **4064390** |
| **Consumer, cyclical: 2.03%** |  |  |  |  |
| **Airlines: 0.82%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Air Canada Pass-Through Trust Series 2020-1 Class C144A | 10.50 | &nbsp;&nbsp; 7-15-2026 | 625000 | &nbsp;&nbsp; 655000 |
| &nbsp;&nbsp;&nbsp; Latam Airlines Group SA144A | 7.63 | &nbsp;&nbsp; 1-7-2031 | 470000 | &nbsp;&nbsp; 484805 |
| &nbsp;&nbsp;&nbsp; Latam Airlines Group SA144A | 7.88 | &nbsp;&nbsp; 4-15-2030 | 615000 | &nbsp;&nbsp; 636217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VistaJet Malta Finance PLC/Vista Management Holding, <br> Inc.144A<br>| 9.50 | &nbsp;&nbsp; 6-1-2028 | 485000 | &nbsp;&nbsp; 497125 |
|  |  |  |  | &nbsp;&nbsp; **2273147** |
| **Auto manufacturers: 0.18%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Nissan Motor Co. Ltd.144A | 8.13 | &nbsp;&nbsp; 7-17-2035 | 480000 | &nbsp;&nbsp; **503894** |
| **Entertainment: 0.41%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Banijay Entertainment SASU144A | 8.13 | &nbsp;&nbsp; 5-1-2029 | 1100000 | &nbsp;&nbsp; **1140720** |
| **Leisure time: 0.62%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Carnival Corp.144A | 5.75 | &nbsp;&nbsp; 8-1-2032 | 295000 | &nbsp;&nbsp; 296997 |
| &nbsp;&nbsp;&nbsp; Carnival Corp.144A | 6.00 | &nbsp;&nbsp; 5-1-2029 | 465000 | &nbsp;&nbsp; 469124 |
| &nbsp;&nbsp;&nbsp; Carnival Corp.144A | 6.13 | &nbsp;&nbsp; 2-15-2033 | 725000 | &nbsp;&nbsp; 737862 |
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd.144A | 5.63 | &nbsp;&nbsp; 9-30-2031 | 230000 | &nbsp;&nbsp; 231652 |
|  |  |  |  | &nbsp;&nbsp; **1735635** |
| **Consumer, non-cyclical: 2.01%** |  |  |  |  |
| **Cosmetics/Personal Care: 0.55%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Opal Bidco SAS144A | 6.50 | &nbsp;&nbsp; 3-31-2032 | 680000 | &nbsp;&nbsp; 686824 |
| &nbsp;&nbsp;&nbsp; Perrigo Finance Unlimited Co. | 6.13 | &nbsp;&nbsp; 9-30-2032 | 840000 | &nbsp;&nbsp; 848792 |
|  |  |  |  | &nbsp;&nbsp; **1535616** |
| **Food: 0.17%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Froneri Lux Finco Sarl144A | 6.00 | &nbsp;&nbsp; 8-1-2032 | 490000 | &nbsp;&nbsp; **487975** |
| **Healthcare-products: 0.30%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Bausch & Lomb Corp.144A | 8.38 | &nbsp;&nbsp; 10-1-2028 | 790000 | &nbsp;&nbsp; **823654** |
| **Pharmaceuticals: 0.99%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; 1261229 BC Ltd.144A | 10.00 | &nbsp;&nbsp; 4-15-2032 | 1430000 | &nbsp;&nbsp; 1455867 |

---

See accompanying notes to portfolio of investments

18 \| Allspring Multi-Sector Income Fund

------

Portfolio of investments—July 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Pharmaceuticals**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Bausch Health Cos., Inc.144A | 11.00<br> %<br>| &nbsp;&nbsp; 9-30-2028 | $280000 | &nbsp;&nbsp; $287700 |
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III BV | 8.13 | &nbsp;&nbsp; 9-15-2031 | 900000 | &nbsp;&nbsp; 1018038 |
|  |  |  |  | &nbsp;&nbsp; **2761605** |
| **Energy: 0.61%** |  |  |  |  |
| **Oil & gas: 0.44%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Baytex Energy Corp.144A | 8.50 | &nbsp;&nbsp; 4-30-2030 | 350000 | &nbsp;&nbsp; 356175 |
| &nbsp;&nbsp;&nbsp; Borr IHC Ltd./Borr Finance LLC144A | 10.00 | &nbsp;&nbsp; 11-15-2028 | 605366 | &nbsp;&nbsp; 578816 |
| &nbsp;&nbsp;&nbsp; Saturn Oil & Gas, Inc.144A | 9.63 | &nbsp;&nbsp; 6-15-2029 | 301000 | &nbsp;&nbsp; 298042 |
|  |  |  |  | &nbsp;&nbsp; **1233033** |
| **Pipelines: 0.17%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Northriver Midstream Finance LP144A | 6.75 | &nbsp;&nbsp; 7-15-2032 | 470000 | &nbsp;&nbsp; **478518** |
| **Financial: 2.64%** |  |  |  |  |
| **Banks: 1.59%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; ABN AMRO Bank NV144A | 4.80 | &nbsp;&nbsp; 4-18-2026 | 750000 | &nbsp;&nbsp; 749798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco del Estado de Chile (5 Year Treasury Constant <br> Maturity+3.23%)144Aʊ±<br>| 7.95 | &nbsp;&nbsp; 5-2-2029 | 530000 | &nbsp;&nbsp; 562541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNP Paribas SA (5 Year Treasury Constant <br> Maturity+3.73%)144Aʊ±<br>| 8.00 | &nbsp;&nbsp; 8-22-2031 | 395000 | &nbsp;&nbsp; 422638 |
| &nbsp;&nbsp;&nbsp; Macquarie Group Ltd. (U.S. SOFR+2.21%)144A± | 5.11 | &nbsp;&nbsp; 8-9-2026 | 1000000 | &nbsp;&nbsp; 1000144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NatWest Group PLC (5 Year Treasury Constant <br> Maturity+2.35%)±<br>| 3.03 | &nbsp;&nbsp; 11-28-2035 | 1000000 | &nbsp;&nbsp; 902314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UBS Group AG (5 Year Treasury Constant <br> Maturity+3.40%)144Aʊ±<br>| 4.88 | &nbsp;&nbsp; 2-12-2027 | 495000 | &nbsp;&nbsp; 485589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UBS Group AG (USD SOFR ICE Swap Rate 11:00am NY 5 <br> Year+4.16%)144Aʊ±<br>| 7.75 | &nbsp;&nbsp; 4-12-2031 | 290000 | &nbsp;&nbsp; 309124 |
|  |  |  |  | &nbsp;&nbsp; **4432148** |
| **Diversified financial services: 0.55%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AerCap Ireland Capital DAC/AerCap Global Aviation Trust (5 <br> Year Treasury Constant Maturity+2.72%)±<br>| 6.95 | &nbsp;&nbsp; 3-10-2055 | 460000 | &nbsp;&nbsp; 481253 |
| &nbsp;&nbsp;&nbsp; GGAM Finance Ltd.144A | 5.88 | &nbsp;&nbsp; 3-15-2030 | 1065000 | &nbsp;&nbsp; 1063713 |
|  |  |  |  | &nbsp;&nbsp; **1544966** |
| **Insurance: 0.50%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Fairfax Financial Holdings Ltd. | 4.85 | &nbsp;&nbsp; 4-17-2028 | 750000 | &nbsp;&nbsp; 754239 |
| &nbsp;&nbsp;&nbsp; Sompo International Holdings Ltd. | 7.00 | &nbsp;&nbsp; 7-15-2034 | 575000 | &nbsp;&nbsp; 636847 |
|  |  |  |  | &nbsp;&nbsp; **1391086** |
| **Industrial: 1.35%** |  |  |  |  |
| **Aerospace/defense: 0.33%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Bombardier, Inc.144A | 8.75 | &nbsp;&nbsp; 11-15-2030 | 865000 | &nbsp;&nbsp; **930847** |
| **Electronics: 0.32%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Sensata Technologies BV144A | 5.88 | &nbsp;&nbsp; 9-1-2030 | 875000 | &nbsp;&nbsp; **875706** |

---

See accompanying notes to portfolio of investments

Allspring Multi-Sector Income Fund \| 19

------

Portfolio of investments—July 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Engineering & construction: 0.19%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; CIMIC Finance USA Pty. Ltd.144A | 7.00<br> %<br>| &nbsp;&nbsp; 3-25-2034 | $500000 | &nbsp;&nbsp; **$531509** |
| **Packaging & containers: 0.51%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Trivium Packaging Finance BV144A | 8.25 | &nbsp;&nbsp; 7-15-2030 | 680000 | &nbsp;&nbsp; 716067 |
| &nbsp;&nbsp;&nbsp; Trivium Packaging Finance BV144A | 12.25 | &nbsp;&nbsp; 1-15-2031 | 675000 | &nbsp;&nbsp; 708748 |
|  |  |  |  | &nbsp;&nbsp; **1424815** |
| **Technology: 0.48%** |  |  |  |  |
| **Computers: 0.48%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Seagate Data Storage Technology Pte. Ltd.144A | 8.50 | &nbsp;&nbsp; 7-15-2031 | 1275000 | &nbsp;&nbsp; **1346556** |
| **Utilities: 0.51%** |  |  |  |  |
| **Electric: 0.38%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Algonquin Power & Utilities Corp. (5 Year Treasury Constant <br> Maturity+3.25%)±<br>| 4.75 | &nbsp;&nbsp; 1-18-2082 | 1075000 | &nbsp;&nbsp; **1043546** |
| **Water: 0.13%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Veolia Environnement SA | 6.75 | &nbsp;&nbsp; 6-1-2038 | 350000 | &nbsp;&nbsp; **369622** |
| **Total yankee corporate bonds and notes (Cost $36,374,628)** |  |  |  | &nbsp;&nbsp; **36590958** |
| **Yankee government bonds: 0.26%** |  |  |  |  |
| **Trinidad and Tobago: 0.26%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Trinidad & Tobago144A | 4.50 | &nbsp;&nbsp; 8-4-2026 | 750000 | &nbsp;&nbsp; **738795** |
| **Total yankee government bonds (Cost $749,171)** |  |  |  | &nbsp;&nbsp; **738795** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | Yield | Shares |  |
| **Short-term investments: 3.54%** |  |  |  |  |
| **Investment companies: 3.54%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund Select Class♠∞ |  | 4.24 | 9872902 | &nbsp;&nbsp; **9872902** |
| **Total short-term investments (Cost $9,872,902)** |  |  |  | &nbsp;&nbsp; **9872902** |
| **Total investments in securities (Cost $400,782,381)** | 142.74<br> %<br>|  |  | &nbsp;&nbsp; 398376138 |
| &nbsp;&nbsp;&nbsp; Other assets and liabilities, net | (42.74)<br>|  |  | &nbsp;&nbsp; (119276114)<br>|
| **Total net assets** | **100.00%**<br>|  |  | &nbsp;&nbsp; **$279100024** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| Variable rate investment. The rate shown is the rate in effect at period end. |
| Investment in an interest-only security that entitles holders to receive only the interest payments on the underlying mortgages. The principal amount shown is the <br> notional amount of the underlying mortgages. The rate represents the coupon rate.<br>|
| The coupon of the security is adjusted based on the principal and/or interest payments received from the underlying pool of mortgages as well as the credit quality <br> and the actual prepayment speed of the underlying mortgages. The rate shown is the rate in effect at period end.<br>|
| The security may be resold in transactions exempt from registration, normally to qualified institutional buyers, pursuant to Rule 144A under the Securities Act of <br> 1933.<br>|
| The security is fair valued in accordance with procedures approved by Allspring Funds Management, LLC. |
| Non-income-earning security |
| Security is valued using significant unobservable inputs. |
| ¥A payment-in-kind (PIK) security is a security in which the issuer may make interest or dividend payments in cash or additional securities or a combination of both. <br> The rate shown is the rate in effect at period end.<br>|
| Security is perpetual in nature and has no stated maturity date. The date shown reflects the next call date. |
| The issuer of the security is an affiliated person of the Fund as defined in the Investment Company Act of 1940. |
| The rate represents the 7-day annualized yield at period end. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See accompanying notes to portfolio of investments

20 \| Allspring Multi-Sector Income Fund

------

Portfolio of investments—July 31, 2025 (unaudited)

---

| | |
|:---|:---|
| Abbreviations: | Abbreviations: |
| AG | Assured Guaranty Incorporation |
| BDC | Business Development Company |
| BRL | Brazilian real |
| CLO | Collateralized loan obligation |
| COP | Colombian peso |
| FHLMC | Federal Home Loan Mortgage Corporation |
| FNMA | Federal National Mortgage Association |
| GBP | Great British pound |
| GNMA | Government National Mortgage Association |
| HUF | Hungarian forint |
| IDR | Indonesian rupiah |
| INR | Indian rupee |
| LIBOR | London Interbank Offered Rate |
| MXN | Mexican peso |
| NZD | New Zealand dollar |
| REIT | Real estate investment trust |
| RON | Romanian lei |
| SOFR | Secured Overnight Financing Rate |
| ZAR | South African rand |

---

**Investments in affiliates**

An affiliated investment is an investment in which the Fund owns at least 5% of the outstanding voting shares of the issuer or as a result of other relationships, such as the Fund and the issuer having the same adviser or investment manager. Transactions with issuers that were affiliates of the Fund at the end of the period were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value, <br>beginning of <br>period<br>| Purchases | Sales <br>proceeds<br>| Net <br>realized <br>gains <br>(losses)<br>| Net <br>change in <br>unrealized <br>gains <br>(losses)<br>| Value, <br>end of <br>period<br>| Shares, <br>end <br>of period<br>| Income <br>from <br>affiliated <br>securities<br>|
| **Short-term investments** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund Select <br> Class<br>| $15973967 | $82106937 | $(88208002)<br>| $0 | $0 | $9872902 | 9872902 | $388259 |

---

See accompanying notes to portfolio of investments

Allspring Multi-Sector Income Fund \| 21

------

Notes to portfolio of investments—July 31, 2025 (unaudited)

Notes to portfolio of investments

Securities valuation

All investments are valued each business day as of the close of regular trading on the New York Stock Exchange (generally 4 p.m. Eastern Time), although the Fund may deviate from this calculation time under unusual or unexpected circumstances.

Debt securities are valued at the evaluated bid price provided by an independent pricing service (e.g., taking into account various factors, including yields, maturities, or credit ratings) or, if a reliable price is not available, the quoted bid price from an independent broker-dealer.

Equity securities and exchange-traded funds that are listed on a foreign or domestic exchange or market are valued at the official closing price or, if none, the last sales price.

The values of securities denominated in foreign currencies are translated into U.S. dollars at rates provided by an independent foreign currency pricing source at a time each business day specified by the Valuation Committee at Allspring Funds Management, LLC ("Allspring Funds Management").

Investments in registered open-end investment companies (other than those listed on a foreign or domestic exchange or market) are valued at net asset value.

Investments which are not valued using the methods discussed above are valued at their fair value, as determined in good faith by Allspring Funds Management, which was named the valuation designee by the Board of Trustees. As the valuation designee, Allspring Funds Management is responsible for day-to-day valuation activities for the Allspring Funds. In connection with these responsibilities, Allspring Funds Management has established a Valuation Committee and has delegated to it the authority to take any actions regarding the valuation of portfolio securities that the Valuation Committee deems necessary or appropriate, including determining the fair value of portfolio securities. On a quarterly basis, the Board of Trustees receives reports of valuation actions taken by the Valuation Committee. On at least an annual basis, the Board of Trustees receives an assessment of the adequacy and effectiveness of Allspring Funds Management's process for determining the fair value of the portfolio of investments.

Foreign currency translation

The accounting records of the Fund are maintained in U.S. dollars. The values of other assets and liabilities denominated in foreign currencies are translated into U.S. dollars at rates provided by an independent foreign currency pricing source at a time each business day specified by the Valuation Committee. Purchases and sales of securities, and income and expenses are converted at the rate of exchange on the respective dates of such transactions. Net realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded and the U.S. dollar equivalent of the amounts actually paid or received. Net unrealized foreign exchange gains and losses arise from changes in the fair value of assets and liabilities other than investments in securities resulting from changes in exchange rates. The changes in net assets arising from changes in exchange rates of securities and the changes in net assets resulting from changes in market prices of securities are not separately presented. Such changes are included in net realized and unrealized gains or losses from investments.

Loans

The Fund may invest in direct debt instruments which are interests in amounts owed to lenders by corporate or other borrowers. The loans pay interest at rates which are periodically reset by reference to a base lending rate plus a spread. Investments in loans may be in the form of participations in loans or assignments of all or a portion of loans from third parties. When the Fund purchases participations, it generally has no rights to enforce compliance with the terms of the loan agreement with the borrower. As a result, the Fund assumes the credit risk of both the borrower and the lender that is selling the participation. When the Fund purchases assignments from lenders, it acquires direct rights against the borrower on the loan and may enforce compliance by the borrower with the terms of the loan agreement. Loans may include fully funded term loans or unfunded loan commitments, which are contractual obligations for future funding. Unfunded loan commitments represent the remaining obligation of the Fund to the borrower. At any point in time, up to the maturity date of the issue, the borrower may demand the unfunded portion. Unfunded amounts, if any, are marked to market.

Fair valuation measurements

Fair value measurements of investments are determined within a framework that has established a fair value hierarchy based upon the various data inputs utilized in determining the value of the Fund's investments. The three-level hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The Fund's investments are classified within the fair value hierarchy based on the lowest level of input that is significant to the fair value measurement. The inputs are summarized into three broad levels as follows:

• Level 1 – quoted prices in active markets for identical securities

• Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

• Level 3 – significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments)

The inputs or methodologies used for valuing investments in securities are not necessarily an indication of the risk associated with investing in those securities.

22 \| Allspring Multi-Sector Income Fund

------

Notes to portfolio of investments—July 31, 2025 (unaudited)

The following is a summary of the inputs used in valuing the Fund's assets and liabilities as of July 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; Quoted prices <br>(Level 1)<br>| &nbsp;&nbsp;&nbsp; Other significant <br>observable inputs <br>(Level 2)<br>| &nbsp;&nbsp;&nbsp; Significant <br>unobservable inputs <br>(Level 3)<br>| Total |
| **Assets** |  |  |  |  |
| **Investments in:** |  |  |  |  |
| **Agency securities** | &nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp;&nbsp; $243328 | &nbsp;&nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp;&nbsp; $243328 |
| **Asset-backed securities** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 12790997 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 12790997 |
| **Common stocks** |  |  |  |  |
| *Communication services* | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 1035 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 1035 |
| *Energy* | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 2241719 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 2241719 |
| *Investment Companies* | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 146949 | &nbsp;&nbsp;&nbsp;&nbsp; 146949 |
| *Utilities* | &nbsp;&nbsp; 780774 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 780774 |
| **Corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 178125390 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 178125390 |
| **Foreign corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 31479658 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 31479658 |
| **Foreign government bonds** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 51784799 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 51784799 |
| **Loans** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 49062747 | &nbsp;&nbsp;&nbsp;&nbsp; 3617365 | &nbsp;&nbsp;&nbsp;&nbsp; 52680112 |
| **Non-agency mortgage-backed securities** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 20898722 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 20898722 |
| **Yankee corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 36590958 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 36590958 |
| **Yankee government bonds** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 738795 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 738795 |
| **Short-term investments** |  |  |  |  |
| *Investment companies* | &nbsp;&nbsp; 9872902 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 9872902 |
| **Total assets** | &nbsp;&nbsp; **$10653676** | &nbsp;&nbsp;&nbsp; **$383958148** | &nbsp;&nbsp;&nbsp; **$3764314** | &nbsp;&nbsp;&nbsp; **$398376138** |

---

Additional sector, industry or geographic detail, if any, is included in the Portfolio of investments.

The following is a reconciliation of assets in which significant unobservable inputs (Level 3) were used in determining fair value:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Balance, <br>beginning <br>of <br>period<br>| Net <br>Purchases<br>| Net <br>Sales/ <br>Settlements<br>| Accrued <br>Discounts <br>(Premiums)<br>| Realized <br>Gains <br>(Losses)<br>| Net <br>Change in <br>Unrealized <br>gains <br>(losses)<br>| Transfers <br>into <br>Level 3<br>| Transfers <br>out <br>of Level 3<br>| Balance, <br>end of <br>period<br>|
| **Investments in:** | **Investments in:** | **Investments in:** | **Investments in:** | **Investments in:** | **Investments in:** | **Investments in:** | **Investments in:** | **Investments in:** | **Investments in:** |
| &nbsp;&nbsp;&nbsp; Common stocks | $93513 | $0 | $0 | $0 | $0 | $53436 | $0 | $0 | $146949 |
| &nbsp;&nbsp;&nbsp; Loans | 2634196 | 2498750 | (1891078)<br>| 13704 | 5618 | (226749)<br>| 582924 | 0 | 3617365 |
|  | $2727709 | $2498750 | $(1891078)<br>| $13704 | $5618 | $(173313)<br>| $582924 | $0 | $3764314 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | &nbsp;&nbsp; Net Change in <br> Unrealized <br>Gains (Losses) on <br> Investments <br>Held at <br>July 31, 2025<br>|
| **Investments in:** |  |
| &nbsp;&nbsp;&nbsp; Common stocks | &nbsp;&nbsp; $53436 |
| &nbsp;&nbsp;&nbsp; Loans | &nbsp;&nbsp; (190911)<br>|
|  | &nbsp;&nbsp; $(137475)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Level 3 Security <br> Types<br>| &nbsp;&nbsp; Fair value at <br> July 31, 2025<br>| &nbsp;&nbsp;&nbsp; Valuation <br> technique<br>| &nbsp;&nbsp;&nbsp; Significant <br> unobservable input<br>| &nbsp;&nbsp;&nbsp; Weighted <br> average<br>| Range | &nbsp;&nbsp;&nbsp; Impact to valuation <br> from an increase to <br> input\*<br>|
| Common Stocks | &nbsp;&nbsp; $146949 | &nbsp;&nbsp;&nbsp;&nbsp; Market <br>Approach<br>| &nbsp;&nbsp;&nbsp;&nbsp; Single <br>broker <br>quote<br>| &nbsp;&nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp;&nbsp; Increase/Decrease |
| Loans | &nbsp;&nbsp; $3617365 | &nbsp;&nbsp;&nbsp;&nbsp; Market <br>Approach<br>| &nbsp;&nbsp;&nbsp;&nbsp; Single <br>broker <br>quote<br>| &nbsp;&nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp;&nbsp; Increase/Decrease |

---

\* Unless otherwise noted, this column represents the directional change in the fair value of the Level 3 investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect. Significant increases and decreases in these inputs in isolation could result in significantly higher or lower fair value measurements.

Allspring Multi-Sector Income Fund \| 23

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** ALLSPRING MULTI-SECTOR INCOME FUND

- **b. Investment Company Act file number:** 811-21331

- **c. CIK number of Registrant:** 0001227073

- **d. LEI of Registrant:** 549300K6JNPNZMSWMF07

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

  - **Street Address 1:** 1415 Vantage Park Drive

  - **City:** Charlotte

  - **State:** NC

  - **Foreign country:** US

  - **Zip / Postal Code:** 28203

  - **Telephone number:** 833-568-4255

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

- **a. Name of Series:** ALLSPRING MULTI-SECTOR INCOME FUND

- **c. LEI of Series:** 549300K6JNPNZMSWMF07

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

- **a. Date of fiscal year-end:** 2025-10-31

- **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:** $405484662.47

**Total Liabilities:** $126385007.68

**Net Assets:** $279099654.79

**Delayed Delivery Securities:** $4404608.72

**Cash Not Reported:** $61.90

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -467.92000000 | **1-Year:** -6837.50000000 | **5-Year:** -12587.35000000 | **10-Year:** -5667.49000000 | **30-Year:** -798.18000000

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

- **3-Month:** -935.36000000 | **1-Year:** -20363.31000000 | **5-Year:** -43050.75000000 | **10-Year:** -11127.29000000 | **30-Year:** -2109.20000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 1.87%                | 2.38%                | -0.08%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-211748.88              | $3552339.39                                |
| Month 2  | $157846.27               | $5349732.48                                |
| Month 3  | $168981.72               | $-2638814.35                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CHS/COMMUNITY HEALTH SYS                         | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBH2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |       580000 | PA      | $551301.60    | 0.20%             | 2029-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                          | Jane Street Group / JSG Finance Inc                                              | CUSIP: 47077WAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       335000 | PA      | $342832.64    | 0.12%             | 2033-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| TK ELEVATOR MIDCO GMBH                           | TK Elevator Midco GmbH 2025 USD Term Loan B                                      | CUSIP: 000000000<br>LEI: 549300C2AFWPAYWS5574 | Long             | LON              | CORP              | US        |       840537 | PA      | $844739.58    | 0.30%             | 2030-04-30      | Floating      | 7.20%                 | No            |                  2 | On Loan: No      |
| Credit Suisse First Boston Mortgage Securities   | Credit Suisse First Boston Mortgage Securities Corp                              | CUSIP: 22541QCV2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |         7377 | PA      | $7571.36      | 0.00%             | 2033-06-25      | Variable      | 6.81%                 | No            |                  2 | On Loan: No      |
| CROWN FINANCE US INC                             | CROWN FINANCE US INC 2025 TERM LOAN B                                            | CUSIP: 22834KAV3<br>LEI: 254900ABTWPQTCKKR839 | Long             | LON              | CORP              | US        |      1328325 | PA      | $1322971.85   | 0.47%             | 2031-12-02      | Floating      | 8.83%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                         | Outfront Media Capital LLC / Outfront Media Capital Corp                         | CUSIP: 69007TAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       590000 | PA      | $560083.52    | 0.20%             | 2030-03-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Trust 2025-VLT6                                                               | CUSIP: 12433KAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $999375.00    | 0.36%             | 2042-03-15      | Floating      | 6.23%                 | No            |                  2 | On Loan: No      |
| Boardwalk Pipelines LP                           | Boardwalk Pipelines LP                                                           | CUSIP: 096630AG3<br>LEI: 549300W6AQ2GHHCGL606 | Long             | DBT              | CORP              | US        |       750000 | PA      | $755519.09    | 0.27%             | 2029-05-03      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                         | Performance Food Group Inc                                                       | CUSIP: 71376LAF7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |       495000 | PA      | $502666.07    | 0.18%             | 2032-09-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                         | Antero Midstream Partners LP / Antero Midstream Finance Corp                     | CUSIP: 03690AAK2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       275000 | PA      | $282689.28    | 0.10%             | 2032-02-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| RITCHIE BROS HLDGS INC                           | Ritchie Bros Holdings Inc                                                        | CUSIP: 76774LAC1<br>LEI: 254900LH3N0EGB1LQ203 | Long             | DBT              | CORP              | US        |       175000 | PA      | $183398.60    | 0.07%             | 2031-03-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ASIAN DEVELOPMENT BANK                           | Asian Development Bank                                                           | CUSIP: 000000000<br>LEI: 549300X0MVH42CY8Q105 | Long             | DBT              | NUSS              | XX        |      9000000 | PA      | $1542257.86   | 0.55%             | 2026-02-05      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae REMICS                                                                | CUSIP: 313921JD1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |         1025 | PA      | $1024.80      | 0.00%             | 2031-06-25      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| OMEGA HLTHCARE INVESTORS                         | Omega Healthcare Investors Inc                                                   | CUSIP: 681936BF6<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | DBT              |  | US        |       600000 | PA      | $599244.83    | 0.21%             | 2027-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL HOLDCO                          | Allied Universal Holdco LLC                                                      | CUSIP: 019576AD9<br>LEI: 98450038B4549046D794 | Long             | DBT              | CORP              | US        |       645000 | PA      | $676370.87    | 0.24%             | 2031-02-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                           | Santander Holdings USA Inc                                                       | CUSIP: 80282KBQ8<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |       500000 | PA      | $514478.14    | 0.18%             | 2031-03-20      | Fixed         | 5.74%                 | No            |                  2 | On Loan: No      |
| BROADSTREET PARTNERS INC                         | Broadstreet Partners Inc 2024 Term Loan B4                                       | CUSIP: 11132VAY5<br>LEI: 549300BS9N54G8DD0R75 | Long             | LON              | CORP              | US        |       871775 | PA      | $872271.60    | 0.31%             | 2031-06-13      | Floating      | 7.11%                 | No            |                  2 | On Loan: No      |
| INTL FINANCE CORP                                | International Finance Corp                                                       | CUSIP: 000000000<br>LEI: QKL54NQY28TCDAI75F60 | Long             | DBT              | NUSS              | XX        |     16000000 | PA      | $891246.86    | 0.32%             | 2036-01-22      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                         | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AV6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       565000 | PA      | $544248.68    | 0.20%             | 2031-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings Inc               | Clear Channel Outdoor Holdings Inc 2024 Term Loan                                | CUSIP: 18452RAF2<br>LEI: 254900XBEE6V1ENYS150 | Long             | LON              | CORP              | US        |      1000000 | PA      | $995890.03    | 0.36%             | 2028-08-23      | Floating      | 8.47%                 | No            |                  2 | On Loan: No      |
| Aqua Finance Trust                               | Aqua Finance Trust 2021-A                                                        | CUSIP: 03842VAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       191268 | PA      | $175427.89    | 0.06%             | 2046-07-17      | Fixed         | 1.54%                 | No            |                  2 | On Loan: No      |
| MIP V Waste Holdings LLC                         | MIP V Waste Holdings LLC 2024 Term Loan                                          | CUSIP: 55316XAD2<br>LEI: 254900RELOGHR3ZGIQ56 | Long             | LON              | CORP              | US        |       581471 | PA      | $582924.47    | 0.21%             | 2028-12-08      | Floating      | 7.20%                 | No            |                  3 | On Loan: No      |
| DISH NETWORK CORP                                | DISH Network Corp                                                                | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |      1410000 | PA      | $1468431.81   | 0.53%             | 2027-11-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| ADIENT GLOBAL HOLDINGS                           | Adient Global Holdings Ltd                                                       | CUSIP: 00687YAD7<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |       505000 | PA      | $514979.31    | 0.18%             | 2033-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Spirit AeroSystems Inc                           | Spirit Aerosystems Inc 2022 Term Loan                                            | CUSIP: 84857HAY6<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | LON              | CORP              | US        |      2528500 | PA      | $2531028.50   | 0.91%             | 2027-01-15      | Floating      | 8.81%                 | No            |                  2 | On Loan: No      |
| FRONERI LUX FINCO SARL                           | Froneri Lux FinCo SARL                                                           | CUSIP: 35901MAA5<br>LEI: 9845005YBZ75E5AA3B94 | Long             | DBT              | CORP              | LU        |       490000 | PA      | $487974.72    | 0.17%             | 2032-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                         | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAG1<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |       220000 | PA      | $219696.29    | 0.08%             | 2031-02-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association         | Ginnie Mae I Pool                                                                | CUSIP: 36208WB85<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |         2869 | PA      | $2888.64      | 0.00%             | 2028-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                           | Venture Global LNG Inc                                                           | CUSIP: 92332YAD3<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |       820000 | PA      | $884733.95    | 0.32%             | 2032-02-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND                          | Romania Government Bond                                                          | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     14750000 | PA      | $3316157.43   | 1.19%             | 2031-04-28      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| AMWINS GROUP INC                                 | AmWINS Group Inc                                                                 | CUSIP: 031921AC3<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |       530000 | PA      | $539712.25    | 0.19%             | 2029-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| EUSHI FINANCE INC                                | EUSHI Finance Inc                                                                | CUSIP: 29882DAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       945000 | PA      | $987361.52    | 0.35%             | 2054-12-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust              | Citigroup Commercial Mortgage Trust 2012-GC8                                     | CUSIP: 17318UAH7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       813776 | PA      | $763639.04    | 0.27%             | 2045-09-10      | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| PETSMART INC/PETSMART FI                         | PetSmart Inc / PetSmart Finance Corp                                             | CUSIP: 71677KAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       505000 | PA      | $494184.21    | 0.18%             | 2029-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                               | Viking Cruises Ltd                                                               | CUSIP: 92676XAF4<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |       500000 | PA      | $503845.00    | 0.18%             | 2029-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| RADIOLOGY PARTNERS INC                           | RADIOLOGY PARTNERS INC 2025 TERM LOAN                                            | CUSIP: 75041EAN2<br>LEI: 549300SFTAG2177WUZ08 | Long             | LON              | CORP              | US        |      1000000 | PA      | $1000160.00   | 0.36%             | 2032-06-30      | Floating      | 8.80%                 | No            |                  2 | On Loan: No      |
| LGI HOMES INC                                    | LGI Homes Inc                                                                    | CUSIP: 50187TAH9<br>LEI: 549300W02B4WNV8CV109 | Long             | DBT              | CORP              | US        |       675000 | PA      | $707955.53    | 0.25%             | 2028-12-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Vistra Corp                                      | Vistra Corp                                                                      | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |         3744 | NS      | $780773.76    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust    | J.P. Morgan Chase Commercial Mortgage Securities Trust 2019-OSB                  | CUSIP: 46651EAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $934218.70    | 0.33%             | 2039-06-05      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| GENTING NY LLC/GENNY CAP                         | Genting New York LLC / GENNY Capital Inc                                         | CUSIP: 37255JAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       625000 | PA      | $643480.83    | 0.23%             | 2029-10-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| MetLife Inc                                      | MetLife Inc                                                                      | CUSIP: 59156RAP3<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |      1000000 | PA      | $1041070.00   | 0.37%             | 2036-12-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                          | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAJ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1300000 | PA      | $1273676.30   | 0.46%             | 2030-12-31      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| KINETIK HOLDINGS LP                              | Kinetik Holdings LP                                                              | CUSIP: 49461MAA8<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |       600000 | PA      | $600485.40    | 0.22%             | 2030-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                           | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 013092AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       565000 | PA      | $564554.22    | 0.20%             | 2028-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                              | Braskem Netherlands Finance BV                                                   | CUSIP: 10554TAH8<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |       295000 | PA      | $232870.96    | 0.08%             | 2031-01-12      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Truist Insurance Holdings LLC                    | Truist Insurance Holdings LLC 2nd Lien Term Loan                                 | CUSIP: 89788VAE2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |       276316 | PA      | $281773.03    | 0.10%             | 2032-05-06      | Floating      | 9.05%                 | No            |                  2 | On Loan: No      |
| BORR IHC LTD / BORR FIN                          | Borr IHC Ltd / Borr Finance LLC                                                  | CUSIP: 100018AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |       605366 | PA      | $578816.46    | 0.21%             | 2028-11-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| VISTRA CORP                                      | Vistra Corp                                                                      | CUSIP: 92840MAC6<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |       505000 | PA      | $509930.32    | 0.18%             | 2026-12-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1750000 | PA      | $1507891.46   | 0.54%             | 2034-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                           | XPLR Infrastructure Operating Partners LP                                        | CUSIP: 65342QAM4<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |       905000 | PA      | $922922.31    | 0.33%             | 2029-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                    | Citigroup Inc                                                                    | CUSIP: 172967MV0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |       935000 | PA      | $924007.86    | 0.33%             | 2026-02-18      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| VISTAJET MALTA/VM HOLDS                          | VistaJet Malta Finance PLC / Vista Management Holding Inc                        | CUSIP: 92841HAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |       485000 | PA      | $497124.52    | 0.18%             | 2028-06-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Arches Buyer Inc                                 | Arches Buyer Inc 2021 Term Loan B                                                | CUSIP: 03952HAD6<br>LEI: 2549009ADY4208OH2Y47 | Long             | LON              | CORP              | US        |      1369487 | PA      | $1367241.22   | 0.49%             | 2027-12-06      | Floating      | 7.71%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPBX0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       500000 | PA      | $490640.57    | 0.18%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mid-State Trust                                  | Mid-State Trust XI                                                               | CUSIP: 59549WAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        26808 | PA      | $26693.07     | 0.01%             | 2038-07-15      | Fixed         | 4.86%                 | No            |                  2 | On Loan: No      |
| Uniti Fiber ABS Issuer LLC                       | Uniti Fiber Abs Issuer Llc                                                       | CUSIP: 91326EAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       510000 | PA      | $519079.17    | 0.19%             | 2055-04-20      | Fixed         | 6.37%                 | No            |                  2 | On Loan: No      |
| AIR CANADA 2020-1C PTT                           | Air Canada 2020-1 Class C Pass Through Trust                                     | CUSIP: 008911BD0<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |       625000 | PA      | $655000.19    | 0.23%             | 2026-07-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                           | Nationstar Mortgage Holdings Inc                                                 | CUSIP: 63861CAF6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       825000 | PA      | $861504.04    | 0.31%             | 2032-02-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| MCAFEE LLC                                       | McAfee LLC 2024 USD 1st Lien Term Loan B                                         | CUSIP: 57906HAF4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | LON              | CORP              | US        |       669622 | PA      | $646044.98    | 0.23%             | 2029-03-01      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP                              | Buckeye Partners LP                                                              | CUSIP: 118230AV3<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |        20000 | PA      | $20587.88     | 0.01%             | 2029-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS ENT/SIX FLAG                           | Six Flags Entertainment Corp /Six Flags Theme Parks Inc/ Canada's Wonderland Co  | CUSIP: 83002YAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1005000 | PA      | $1023398.54   | 0.37%             | 2032-05-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| CABLEVISION LIGHTPATH LLC                        | Cablevision Lightpath LLC 2025 Repriced Term Loan                                | CUSIP: 12687HAD9<br>LEI: 5493002ZVBLRLGES1R71 | Long             | LON              | CORP              | US        |       601975 | PA      | $602354.24    | 0.22%             | 2027-11-30      | Floating      | 7.34%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                      | Freddie Mac REMICS                                                               | CUSIP: 31339LQZ6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |         2169 | PA      | $2166.19      | 0.00%             | 2031-12-15      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| CINEMARK USA INC                                 | Cinemark USA Inc                                                                 | CUSIP: 172441BH9<br>LEI: 54930008H2137JSCPQ09 | Long             | DBT              | CORP              | US        |      1425000 | PA      | $1471433.63   | 0.53%             | 2032-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| VISTA MANAGEMENT HOLDING INC                     | Vista Management Holding Inc 2025 Term Loan B                                    | CUSIP: 92842EAB4<br>LEI: 5299005VABKD28UWHI65 | Long             | LON              | CORP              | US        |       305000 | PA      | $306015.65    | 0.11%             | 2031-04-01      | Floating      | 8.04%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                             | Indonesia Treasury Bond                                                          | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 115000000000 | PA      | $7211107.46   | 2.58%             | 2030-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| HARVEST MIDSTREAM I LP                           | Harvest Midstream I LP                                                           | CUSIP: 417558AA1<br>LEI: 549300DW5M17KJOXCY66 | Long             | DBT              | CORP              | US        |       825000 | PA      | $835041.08    | 0.30%             | 2028-09-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Synchrony Financial                              | Synchrony Financial                                                              | CUSIP: 87165BAP8<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |       750000 | PA      | $753317.06    | 0.27%             | 2029-03-19      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| MCR Mortgage Trust                               | MCR 2024-HF1 Mortgage Trust                                                      | CUSIP: 55287FAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $1001250.00   | 0.36%             | 2041-12-15      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| ADAPTHEALTH LLC                                  | AdaptHealth LLC                                                                  | CUSIP: 00653VAE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       775000 | PA      | $728500.95    | 0.26%             | 2030-03-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| GENESEE & WYOMING INC                            | Genesee & Wyoming Inc                                                            | CUSIP: 371559AB1<br>LEI: G617XSG94Z7G0RMW3L02 | Long             | DBT              | CORP              | US        |       780000 | PA      | $788991.84    | 0.28%             | 2032-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CQP HOLDCO LP/BIP-V CHIN                         | CQP Holdco LP / BIP-V Chinook Holdco LLC                                         | CUSIP: 12657NAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       765000 | PA      | $814697.46    | 0.29%             | 2033-12-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                         | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                              | CUSIP: 77313LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       665000 | PA      | $588345.58    | 0.21%             | 2033-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALLSPRING GOVERNMENT MONEY MAR                   | ALLSPRING GOVERNMENT MONEY MAR                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |      9872902 | NS      | $9872902.32   | 3.54%             |  |  |  | No            |                  1 | On Loan: No      |
| ROCKET COS INC                                   | Rocket Cos Inc                                                                   | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       340000 | PA      | $344743.85    | 0.12%             | 2030-08-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                         | Rogers Communications Inc                                                        | CUSIP: 775109DH1<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |      1450000 | PA      | $1483789.64   | 0.53%             | 2055-04-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                       | DaVita Inc                                                                       | CUSIP: 23918KAW8<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |      1740000 | PA      | $1788953.16   | 0.64%             | 2032-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| RADIOLOGY PARTNERS INC                           | Radiology Partners Inc                                                           | CUSIP: 75041VAE4<br>LEI: 549300SFTAG2177WUZ08 | Long             | DBT              | CORP              | US        |       700000 | PA      | $707287.00    | 0.25%             | 2032-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc                                   | Sabre GLBL Inc 2021 Term Loan B1                                                 | CUSIP: 78571YBG4<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |       278697 | PA      | $276782.46    | 0.10%             | 2027-12-17      | Floating      | 7.97%                 | No            |                  2 | On Loan: No      |
| ESC GCB144A ENVIVA PAR                           | ESC GCB144A ENVIVA PAR                                                           | CUSIP: 294ESCAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2845000 | PA      | $0.03         | 0.00%             | 2026-01-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                         | JP Morgan Mortgage Trust 2004-A3                                                 | CUSIP: 466247CZ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |         1647 | PA      | $1618.63      | 0.00%             | 2034-07-25      | Variable      | 5.32%                 | No            |                  2 | On Loan: No      |
| CQP HOLDCO LP/BIP-V CHIN                         | CQP Holdco LP / BIP-V Chinook Holdco LLC                                         | CUSIP: 12657NAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       960000 | PA      | $937840.51    | 0.34%             | 2031-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Trust 2024-BIO                                                                | CUSIP: 05612AAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $1000611.80   | 0.36%             | 2041-02-15      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| BX Trust 2019-OC11                               | BX Trust 2019-OC11                                                               | CUSIP: 05606FAL7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       700000 | PA      | $652391.74    | 0.23%             | 2041-12-09      | Variable      | 3.94%                 | No            |                  2 | On Loan: No      |
| ADIENT GLOBAL HOLDINGS                           | Adient Global Holdings Ltd                                                       | CUSIP: 00687YAC9<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |       145000 | PA      | $151566.04    | 0.05%             | 2031-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| MODIVCARE INC                                    | Modivcare Inc 2024 Term Loan B                                                   | CUSIP: 60783LAC4<br>LEI: 549300EFZIFW7F7I0Q28 | Long             | LON              | CORP              | US        |      1572059 | PA      | $969441.41    | 0.35%             | 2031-07-01      | Floating      | 9.05%                 | No            |                  2 | On Loan: No      |
| INTL BK RECON & DEVELOP                          | International Bank for Reconstruction & Development                              | CUSIP: 000000000<br>LEI: ZTMSNXROF84AHWJNKQ93 | Long             | DBT              | NUSS              | XX        |     22000000 | PA      | $3620469.50   | 1.30%             | 2029-02-09      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| MPH ACQUISITION HOLDINGS LLC                     | MPH Acquisition Holdings LLC 2025 Exchange 1st Out Term Loan                     | CUSIP: 55328HAP6<br>LEI: 5493002WXOPRPTXWTU06 | Long             | LON              | CORP              | US        |       498750 | PA      | $495757.50    | 0.18%             | 2030-12-31      | Floating      | 8.06%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                                     | Entegris Inc                                                                     | CUSIP: 29365BAB9<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |       510000 | PA      | $514568.58    | 0.18%             | 2030-06-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| PANTHER ESCROW ISSUER                            | Panther Escrow Issuer LLC                                                        | CUSIP: 69867RAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       595000 | PA      | $615287.95    | 0.22%             | 2031-06-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                           | WESCO Distribution Inc                                                           | CUSIP: 95081QAR5<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |      1015000 | PA      | $1047287.15   | 0.38%             | 2032-03-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ADVANCE AUTO PARTS                               | Advance Auto Parts Inc                                                           | CUSIP: 00751YAL0<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |       225000 | PA      | $226206.00    | 0.08%             | 2033-08-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                            | Level 3 Financing Inc                                                            | CUSIP: 527298CM3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |       455000 | PA      | $461076.26    | 0.17%             | 2033-06-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| STORE Master Funding LLC                         | Store Master Funding I-VII                                                       | CUSIP: 86212VAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       487480 | PA      | $478778.74    | 0.17%             | 2048-10-20      | Fixed         | 4.29%                 | No            |                  2 | On Loan: No      |
| First Brands Group LLC                           | First Brands Group LLC 2021 Term Loan                                            | CUSIP: 31935HAD9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |       375716 | PA      | $366792.77    | 0.13%             | 2027-03-30      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                            | Quikrete Holdings Inc                                                            | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |       245000 | PA      | $251270.78    | 0.09%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| MASTR Adjustable Rate Mortgages Trust            | MASTR Adjustable Rate Mortgages Trust 2004-13                                    | CUSIP: 576433UM6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |         2411 | PA      | $2316.82      | 0.00%             | 2034-11-21      | Variable      | 5.80%                 | No            |                  2 | On Loan: No      |
| AZORRA SOAR TLB FINANCE LTD                      | AZORRA SOAR TLB FINANCE LTD 2025 TERM LOAN B                                     | CUSIP: 000000000<br>LEI: 254900W0D3E1W7DRS089 | Long             | LON              | CORP              | KY        |      2000000 | PA      | $2001260.00   | 0.72%             | 2029-10-18      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| CommScope Inc                                    | CommScope Inc 2024 Term Loan                                                     | CUSIP: 000000000<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | LON              | CORP              | US        |      1630000 | PA      | $1655574.70   | 0.59%             | 2029-12-17      | Floating      | 9.61%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND                          | Romania Government Bond                                                          | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     14850000 | PA      | $3313753.41   | 1.19%             | 2033-10-30      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| KRAKEN OIL & GAS PARTNER                         | Kraken Oil & Gas Partners LLC                                                    | CUSIP: 50076PAA6<br>LEI: 549300DR5HSL4YAU3X12 | Long             | DBT              | CORP              | US        |       280000 | PA      | $274518.64    | 0.10%             | 2029-08-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                 | CSC Holdings LLC                                                                 | CUSIP: 126307AQ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |       855000 | PA      | $827569.98    | 0.30%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| 1261229 BC LTD                                   | 1261229 BC Ltd                                                                   | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |      1430000 | PA      | $1455867.10   | 0.52%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| PG&E CORP                                        | PG&E Corp                                                                        | CUSIP: 69331CAJ7<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |      1075000 | PA      | $1031146.24   | 0.37%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortgage Loan Trust      | MF1 2022-FL8 Ltd                                                                 | CUSIP: 55284JAG4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $998212.66    | 0.36%             | 2037-02-19      | Floating      | 6.55%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       360000 | PA      | $326651.18    | 0.12%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                   | Sabre GLBL Inc                                                                   | CUSIP: 78573NAL6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |       757000 | PA      | $779687.29    | 0.28%             | 2029-11-15      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| Freddie Mac                                      | Freddie Mac REMICS                                                               | CUSIP: 31393K5E1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |        13458 | PA      | $13409.09     | 0.00%             | 2033-02-15      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                | Iron Mountain Inc                                                                | CUSIP: 46284VAJ0<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |      1675000 | PA      | $1646075.80   | 0.59%             | 2030-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                           | Nationstar Mortgage Holdings Inc                                                 | CUSIP: 63861CAG4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       200000 | PA      | $204561.87    | 0.07%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association         | Government National Mortgage Association                                         | CUSIP: 38381TB61<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       990814 | PA      | $9908.14      | 0.00%             | 2069-04-20      | Variable      | 1.79%                 | No            |                  2 | On Loan: No      |
| Vantage Data Centers LLC                         | Vantage Data Centers Issuer LLC                                                  | CUSIP: 92212KAB2<br>LEI: 5493000RL8X7WTQ7HO20 | Long             | ABS-O            | CORP              | US        |       900000 | PA      | $895813.92    | 0.32%             | 2045-09-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                                    | ZF North America Capital Inc                                                     | CUSIP: 98877DAG0<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |       490000 | PA      | $457230.47    | 0.16%             | 2032-04-23      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Trust 2021-ARIA                                                               | CUSIP: 05608RAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       525000 | PA      | $524999.90    | 0.19%             | 2036-10-15      | Floating      | 6.35%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                           | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAB1<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |       485000 | PA      | $494980.22    | 0.18%             | 2030-04-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                         | Service Properties Trust                                                         | CUSIP: 81761LAD4<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |       330000 | PA      | $341944.02    | 0.12%             | 2029-06-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                     | GS Mortgage Securities Trust 2010-C1                                             | CUSIP: 36249KAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       287679 | PA      | $33.49        | 0.00%             | 2043-08-10      | Variable      | 0.42%                 | No            |                  2 | On Loan: No      |
| New Zealand Government Bonds                     | New Zealand Government Bonds                                                     | CUSIP: 000000000<br>LEI: 549300237GPHG2AI7C34 | Long             | DBT              | NUSS              | NZ        |      6500000 | PA      | $3779293.73   | 1.35%             | 2034-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                              | Medline Borrower LP 2024 USD Add-on Term Loan B                                  | CUSIP: 58503UAF0<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |      1592527 | PA      | $1593530.23   | 0.57%             | 2028-10-23      | Floating      | 6.61%                 | No            |                  2 | On Loan: No      |
| Connect Finco SARL                               | Connect Finco Sarl 2024 Extended Term Loan B                                     | CUSIP: 000000000<br>LEI: 2594001KNYIQ456J2792 | Long             | LON              | CORP              | LU        |       380000 | PA      | $372221.40    | 0.13%             | 2029-09-27      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                    | DISH DBS Corp                                                                    | CUSIP: 25470XBF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       420000 | PA      | $375310.78    | 0.13%             | 2028-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GROUP 1 AUTOMOTIVE INC                           | Group 1 Automotive Inc                                                           | CUSIP: 398905AQ2<br>LEI: 549300US8QAZJLWYAF63 | Long             | DBT              | CORP              | US        |       495000 | PA      | $504189.18    | 0.18%             | 2030-01-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                            | Tenet Healthcare Corp                                                            | CUSIP: 88033GDU1<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |      1400000 | PA      | $1440530.00   | 0.52%             | 2031-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE                         | ROCKIES EXPRESS PIPELINE                                                         | CUSIP: 77340RAU1<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |       300000 | PA      | $311640.60    | 0.11%             | 2033-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                     | GS Mortgage Securities Trust 2019-GSA1                                           | CUSIP: 36261PAZ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $906080.30    | 0.32%             | 2052-11-10      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| ALGONQUIN PWR & UTILITY                          | Algonquin Power & Utilities Corp                                                 | CUSIP: 015857AH8<br>LEI: 549300K5VIUTJXQL7X75 | Long             | DBT              | CORP              | CA        |      1075000 | PA      | $1043545.93   | 0.37%             | 2082-01-18      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                    | Carnival Corp                                                                    | CUSIP: 143658BR2<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |       465000 | PA      | $469123.62    | 0.17%             | 2029-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Mortgage Loan Trust               | Morgan Stanley Mortgage Loan Trust 2004-4                                        | CUSIP: 61748HDQ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |         7319 | PA      | $7121.27      | 0.00%             | 2034-09-25      | Variable      | 6.23%                 | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND                          | Hungary Government Bond                                                          | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   1630000000 | PA      | $4681990.60   | 1.68%             | 2028-10-22      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ENVIVA EQUITY                                    | ENVIVA EQUITY                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       119158 | NS      | $2241719.45   | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| JEFFERSON CAPITAL HOLDIN                         | Jefferson Capital Holdings LLC                                                   | CUSIP: 472481AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       625000 | PA      | $659540.03    | 0.24%             | 2029-02-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| MLCC Mortgage Investors Inc                      | Merrill Lynch Mortgage Investors Trust Series MLCC 2003-G                        | CUSIP: 5899295W4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |         7255 | PA      | $7116.26      | 0.00%             | 2029-01-25      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortgage Loan Trust      | MF1 2022-FL8 Ltd                                                                 | CUSIP: 55284JAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |       749991 | PA      | $750008.52    | 0.27%             | 2037-02-19      | Floating      | 5.70%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                 | CSC Holdings LLC                                                                 | CUSIP: 126307BA4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |       425000 | PA      | $209540.98    | 0.08%             | 2030-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES BV                          | Sensata Technologies BV                                                          | CUSIP: 81725WAL7<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |       875000 | PA      | $875706.13    | 0.31%             | 2030-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                         | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAA4<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |       600000 | PA      | $599185.41    | 0.21%             | 2027-08-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| European Investment Bank                         | European Investment Bank                                                         | CUSIP: 000000000<br>LEI: 5493006YXS1U5GIHE750 | Long             | DBT              | NUSS              | XX        |     49000000 | PA      | $2716976.94   | 0.97%             | 2027-05-05      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| PG&E CORP                                        | PG&E Corp                                                                        | CUSIP: 69331CAM0<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |       985000 | PA      | $950507.70    | 0.34%             | 2055-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                           | Cloud Software Group Inc                                                         | CUSIP: 18912UAC6<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |      1035000 | PA      | $1102100.09   | 0.39%             | 2032-06-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| BrightSpire Capital, Inc                         | BRSP 2021-FL1 Ltd                                                                | CUSIP: 05591XAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |       131917 | PA      | $131511.83    | 0.05%             | 2038-08-19      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                       | MFA 2022-INV3 Trust                                                              | CUSIP: 55284PAF2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $863028.90    | 0.31%             | 2066-12-25      | Variable      | 4.23%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                      | Chemours Co/The                                                                  | CUSIP: 163851AJ7<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |       890000 | PA      | $827896.46    | 0.30%             | 2033-01-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| QXO BUILDING PRODUCTS                            | QXO Building Products Inc                                                        | CUSIP: 74825NAA5<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |       595000 | PA      | $612715.53    | 0.22%             | 2032-04-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| RAKUTEN GROUP INC                                | Rakuten Group Inc                                                                | CUSIP: 75102WAK4<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |      1155000 | PA      | $1264629.42   | 0.45%             | 2029-04-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| AES CORP/THE                                     | AES Corp/The                                                                     | CUSIP: 00130HCK9<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |       860000 | PA      | $868637.78    | 0.31%             | 2055-01-15      | Fixed         | 7.60%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2021-VOLT                                           | CUSIP: 05609VAG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       968828 | PA      | $965195.02    | 0.35%             | 2036-09-15      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                      | Vistra Corp                                                                      | CUSIP: 92840MAD4<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |       600000 | PA      | $650266.80    | 0.23%             | 2029-01-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LIMITED                        | HUB International Limited 2025 Term Loan B                                       | CUSIP: 44332EAZ9<br>LEI: 549300JQT6ATTUNS5E06 | Long             | LON              | CORP              | US        |       919340 | PA      | $920075.24    | 0.33%             | 2030-06-20      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| Vendee Mortgage Trust                            | Vendee Mortgage Trust 2003-2                                                     | CUSIP: 911760TN6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       735067 | PA      | $7778.33      | 0.00%             | 2033-05-15      | Variable      | 0.42%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                    | TransDigm Inc                                                                    | CUSIP: 893647BV8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |      2035000 | PA      | $2092527.42   | 0.75%             | 2032-03-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                | Newell Brands Inc                                                                | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |       755000 | PA      | $791144.51    | 0.28%             | 2028-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                              | NCL Corp Ltd                                                                     | CUSIP: 62886HBE0<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |       500000 | PA      | $501481.36    | 0.18%             | 2027-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| EUROPEAN INVESTMENT BANK                         | European Investment Bank                                                         | CUSIP: 000000000<br>LEI: 5493006YXS1U5GIHE750 | Long             | DBT              | NUSS              | XX        |     63500000 | PA      | $3219132.91   | 1.15%             | 2032-09-28      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| INTELSAT EMERGENCE SA                            | INTELSAT EMERGENCE SA                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | LU        |           90 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PRA GROUP INC                                    | PRA Group Inc                                                                    | CUSIP: 69354NAD8<br>LEI: 549300Q5HW3JSSB86K27 | Long             | DBT              | CORP              | US        |       561000 | PA      | $518305.21    | 0.19%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HUBBARD RADIO LLC                                | Hubbard Radio LLC 2024 PIK Term Loan B                                           | CUSIP: 44344HAK1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |       940147 | PA      | $519431.32    | 0.19%             | 2027-09-30      | Floating      | 8.86%                 | No            |                  3 | On Loan: No      |
| UNITED WHOLESALE MTGE LL                         | United Wholesale Mortgage LLC                                                    | CUSIP: 913229AA8<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |      1100000 | PA      | $1075954.55   | 0.39%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BAUSCH + LOMB CORP                               | Bausch + Lomb Corp                                                               | CUSIP: 071705AA5<br>LEI: 549300NY6OZM39SO6475 | Long             | DBT              | CORP              | CA        |       790000 | PA      | $823654.00    | 0.30%             | 2028-10-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| FORTRESS TRANS & INFRAST                         | FTAI Aviation Investors LLC                                                      | CUSIP: 34960PAF8<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |      1000000 | PA      | $1037546.00   | 0.37%             | 2031-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| VZ SECURED FINANCING BV                          | VZ Secured Financing BV                                                          | CUSIP: 91845AAA3<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |       685000 | PA      | $602418.66    | 0.22%             | 2032-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                    | Carnival Corp                                                                    | CUSIP: 143658CA8<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |       295000 | PA      | $296997.15    | 0.11%             | 2032-08-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CHART INDUSTRIES INC                             | Chart Industries Inc                                                             | CUSIP: 16115QAG5<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |       510000 | PA      | $545405.71    | 0.20%             | 2031-01-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Hertz Corporation, (The)                         | Hertz Corporation (The) 2021 Term Loan B                                         | CUSIP: 42804VBB6<br>LEI: 549300PD0C69OJ0NLB27 | Long             | LON              | CORP              | US        |       624208 | PA      | $528023.85    | 0.19%             | 2028-06-30      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                          | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC                  | CUSIP: 91327TAA9<br>LEI: N/A                  | Long             | DBT              |  | US        |       534000 | PA      | $564373.39    | 0.20%             | 2028-02-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | BNP Paribas SA                                                                   | CUSIP: 05602XDJ4<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |       395000 | PA      | $422638.15    | 0.15%             | 2031-08-22      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae REMICS                                                                | CUSIP: 313920TH3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |         1018 | PA      | $1016.61      | 0.00%             | 2031-07-25      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| Bausch & Lomb Corporation                        | Bausch & Lomb Corporation 2025 Term Loan B                                       | CUSIP: 000000000<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |       100000 | PA      | $100275.00    | 0.04%             | 2031-01-15      | Floating      | 8.61%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                        | IQVIA Inc                                                                        | CUSIP: 46266TAG3<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |       285000 | PA      | $292254.68    | 0.10%             | 2032-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SPIRIT AEROSYSTEMS INC                           | Spirit AeroSystems Inc                                                           | CUSIP: 85205TAR1<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |       890000 | PA      | $978824.79    | 0.35%             | 2030-11-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| PERRIGO FINANCE UNLIMITE                         | Perrigo Finance Unlimited Co                                                     | CUSIP: 71429MAD7<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |       840000 | PA      | $848791.44    | 0.30%             | 2032-09-30      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| MPH ACQUISITION HOLDINGS                         | MPH Acquisition Holdings LLC                                                     | CUSIP: 553283AF9<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |       264209 | PA      | $260906.39    | 0.09%             | 2030-12-31      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| Asurion LLC                                      | Asurion LLC 2021 2nd Lien Term Loan B3                                           | CUSIP: 04649VAZ3<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |       463793 | PA      | $444990.50    | 0.16%             | 2028-01-31      | Floating      | 9.72%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA VEND FIN IV                         | Virgin Media Vendor Financing Notes IV DAC                                       | CUSIP: 92770QAA5<br>LEI: 635400ZZNJSEA4CAJR23 | Long             | DBT              | CORP              | IE        |       205000 | PA      | $198807.59    | 0.07%             | 2028-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rocket Software Inc                              | Rocket Software Inc 2023 USD Term Loan B                                         | CUSIP: 77313DAW1<br>LEI: 549300PVG26ISP5X1556 | Long             | LON              | CORP              | US        |       755447 | PA      | $756867.38    | 0.27%             | 2028-11-28      | Floating      | 8.11%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                      | Freddie Mac Non Gold Pool                                                        | CUSIP: 3128JR2K1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |       140865 | PA      | $137195.84    | 0.05%             | 2032-09-01      | Floating      | 2.61%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                         | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAH6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1550000 | PA      | $1593364.35   | 0.57%             | 2032-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| GRIFFIN COAL MINING CO                           | Griffin Coal Mining Co Pty Ltd/The                                               | CUSIP: 000000000<br>LEI: 98450062A5DBFF1A8463 | Long             | DBT              | CORP              | AU        |        90136 | PA      | $0.00         | 0.00%             | 2016-12-01      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| INSIGHT ENTERPRS                                 | Insight Enterprises Inc                                                          | CUSIP: 45765UAC7<br>LEI: 529900S8991TYW6YP792 | Long             | DBT              | CORP              | US        |       470000 | PA      | $480634.01    | 0.17%             | 2032-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| SAMMONS FINANCIAL GROUP                          | Sammons Financial Group Inc                                                      | CUSIP: 79588TAC4<br>LEI: 254900SHCOQLVJ21CT59 | Long             | DBT              | CORP              | US        |       750000 | PA      | $744605.21    | 0.27%             | 2027-05-12      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                              | Sirius XM Radio LLC                                                              | CUSIP: 82967NBG2<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |      1190000 | PA      | $1085558.10   | 0.39%             | 2030-07-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies Inc                           | Lumen Technologies Inc 2024 Extended Term Loan B2                                | CUSIP: 55024EAG0<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |       837865 | PA      | $832234.17    | 0.30%             | 2030-04-15      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                          | Mexican Bonos                                                                    | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     58000000 | PA      | $3058120.33   | 1.10%             | 2029-05-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                           | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAC9<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |       285000 | PA      | $291449.55    | 0.10%             | 2030-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                             | OneMain Finance Corp                                                             | CUSIP: 682691AE0<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |       955000 | PA      | $1005292.21   | 0.36%             | 2030-03-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| New Century Home Equity Loan Trust               | New Century Home Equity Loan Trust 2004-3                                        | CUSIP: 64352VHV6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       561113 | PA      | $567147.61    | 0.20%             | 2034-11-25      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| Cornerstone Building Brands Inc                  | Cornerstone Building Brands Inc 2021 Term Loan B                                 | CUSIP: 72431HAD2<br>LEI: 549300IW41QEWQ6T0H29 | Long             | LON              | CORP              | US        |       937592 | PA      | $853237.28    | 0.31%             | 2028-04-12      | Floating      | 7.69%                 | No            |                  2 | On Loan: No      |
| ASSURANT INC                                     | Assurant Inc                                                                     | CUSIP: 04621XAM0<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | DBT              | CORP              | US        |       750000 | PA      | $713551.94    | 0.26%             | 2030-02-22      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| SCIH SALT HOLDINGS INC                           | SCIH Salt Holdings Inc                                                           | CUSIP: 78433BAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       930000 | PA      | $919377.54    | 0.33%             | 2029-05-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| CIMIC FINANCE USA PTY LT                         | CIMIC Finance USA Pty Ltd                                                        | CUSIP: 171873AB8<br>LEI: 213800GNWSV32LXHCZ50 | Long             | DBT              | CORP              | AU        |       500000 | PA      | $531508.86    | 0.19%             | 2034-03-25      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                             | Las Vegas Sands Corp                                                             | CUSIP: 517834AL1<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |       500000 | PA      | $512690.99    | 0.18%             | 2034-08-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Securities Trust       | JPMBB Commercial Mortgage Securities Trust 2013-C15                              | CUSIP: 46640NAP3<br>LEI: 549300UOGMFS1M8XVM16 | Long             | ABS-MBS          | CORP              | US        |       171251 | PA      | $154129.13    | 0.06%             | 2045-11-15      | Variable      | 4.61%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                          | Mexican Bonos                                                                    | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     68500000 | PA      | $3297549.70   | 1.18%             | 2033-05-26      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GRIFFIN COAL MINING CO                           | Griffin Coal Mining Co Pty Ltd/The                                               | CUSIP: 398186AA4<br>LEI: 98450062A5DBFF1A8463 | Long             | DBT              | CORP              | AU        |      1102511 | PA      | $0.01         | 0.00%             | 2016-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                      | Freddie Mac Gold Pool                                                            | CUSIP: 31283HCS2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |         1152 | PA      | $1164.40      | 0.00%             | 2028-07-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| APA CORP                                         | APA Corp                                                                         | CUSIP: 03743QAD0<br>LEI: 549300VCIWLRHYVSHC79 | Long             | DBT              | CORP              | US        |       750000 | PA      | $720703.70    | 0.26%             | 2028-10-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| STAR PARENT INC                                  | Star Parent Inc                                                                  | CUSIP: 855170AA4<br>LEI: 254900GRGCJYRMDRWT73 | Long             | DBT              | CORP              | US        |      1180000 | PA      | $1240886.63   | 0.44%             | 2030-10-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| TRIVIUM PACKAGING FIN                            | Trivium Packaging Finance BV                                                     | CUSIP: 89686QAD8<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |       680000 | PA      | $716067.16    | 0.26%             | 2030-07-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| BRIGHTHOUSE FINANCIAL IN                         | Brighthouse Financial Inc                                                        | CUSIP: 10922NAF0<br>LEI: 5493003T8SZSHOGGAW52 | Long             | DBT              | CORP              | US        |       850000 | PA      | $629969.12    | 0.23%             | 2047-06-22      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                         | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                        | CUSIP: 00774MBK0<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |       460000 | PA      | $481252.31    | 0.17%             | 2055-03-10      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| NABORS INDUSTRIES LTD                            | Nabors Industries Ltd                                                            | CUSIP: 629571AB6<br>LEI: 5493008TXYN3II3PU369 | Long             | DBT              | CORP              | BM        |       325000 | PA      | $299905.26    | 0.11%             | 2028-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                          | MPT Operating Partnership LP / MPT Finance Corp                                  | CUSIP: 55342UAQ7<br>LEI: N/A                  | Long             | DBT              |  | US        |       690000 | PA      | $717189.45    | 0.26%             | 2032-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                            | Bausch Health Cos Inc                                                            | CUSIP: 071734AQ0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |       280000 | PA      | $287700.00    | 0.10%             | 2028-09-30      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| US FOODS INC                                     | US Foods Inc                                                                     | CUSIP: 90290MAJ0<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |      1060000 | PA      | $1050251.39   | 0.38%             | 2033-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NEWS CORP                                        | News Corp                                                                        | CUSIP: 65249BAB5<br>LEI: 549300ITS31QK8VRBQ14 | Long             | DBT              | CORP              | US        |       500000 | PA      | $487323.75    | 0.17%             | 2032-02-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| U.K. Gilts                                       | U.K. Gilts                                                                       | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |      1625000 | PA      | $1640787.03   | 0.59%             | 2053-10-22      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| ASHTON WOODS USA/FINANCE                         | Ashton Woods USA LLC / Ashton Woods Finance Co                                   | CUSIP: 045086AR6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       480000 | PA      | $478974.09    | 0.17%             | 2033-08-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE                         | Rockies Express Pipeline LLC                                                     | CUSIP: 77340RAM9<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |      1440000 | PA      | $1449499.68   | 0.52%             | 2040-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| VERITIV OPERATING CO                             | Veritiv Operating Co                                                             | CUSIP: 92339LAA0<br>LEI: 5493004G8OK5L1UTIY12 | Long             | DBT              | CORP              | US        |       670000 | PA      | $726197.59    | 0.26%             | 2030-11-30      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| Credit Suisse First Boston Mortgage Securities   | Credit Suisse First Boston Mortgage Securities Corp                              | CUSIP: 22541NQ77<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |         6369 | PA      | $6320.07      | 0.00%             | 2033-03-25      | Variable      | 6.28%                 | No            |                  2 | On Loan: No      |
| Ellucian Holdings, Inc.                          | Ellucian Holdings Inc 2024 2nd Lien Term Loan                                    | CUSIP: 28917XAE0<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | LON              | CORP              | US        |       500000 | PA      | $513750.00    | 0.18%             | 2032-11-22      | Floating      | 9.11%                 | No            |                  3 | On Loan: No      |
| Starwood Commercial Mortgage Trust               | Starwood 2025-SIF5 LLC                                                           | CUSIP: 85573WAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      1000000 | PA      | $1002162.00   | 0.36%             | 2037-04-15      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| KFW                                              | Kreditanstalt fuer Wiederaufbau                                                  | CUSIP: 000000000<br>LEI: 549300GDPG70E3MBBU98 | Long             | DBT              | CORP              | DE        |     17500000 | PA      | $930073.42    | 0.33%             | 2028-01-19      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                         | Warnermedia Holdings Inc                                                         | CUSIP: 55903VBQ5<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |       291000 | PA      | $244364.34    | 0.09%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| MASTR Adjustable Rate Mortgages Trust            | MASTR Adjustable Rate Mortgages Trust 2003-6                                     | CUSIP: 576433GF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |         8357 | PA      | $8282.56      | 0.00%             | 2033-12-25      | Variable      | 4.27%                 | No            |                  2 | On Loan: No      |
| ARCHES BUYER INC                                 | Arches Buyer Inc                                                                 | CUSIP: 039524AB9<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |       525000 | PA      | $501048.61    | 0.18%             | 2028-12-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                           | Match Group Holdings II LLC                                                      | CUSIP: 57665RAJ5<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |       791000 | PA      | $788516.66    | 0.28%             | 2029-02-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                                    | CommScope LLC                                                                    | CUSIP: 20338QAA1<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |       720000 | PA      | $721663.20    | 0.26%             | 2027-03-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                         | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAE6<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |       690000 | PA      | $722941.29    | 0.26%             | 2028-09-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| HCA INC                                          | HCA Inc                                                                          | CUSIP: 404119DB2<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |      1000000 | PA      | $1024091.85   | 0.37%             | 2035-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| INTL FINANCE CORP                                | International Finance Corp                                                       | CUSIP: 000000000<br>LEI: QKL54NQY28TCDAI75F60 | Long             | DBT              | NUSS              | XX        |      8000000 | PA      | $1373924.69   | 0.49%             | 2028-02-15      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC                            | Civitas Resources Inc                                                            | CUSIP: 17888HAD5<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |       400000 | PA      | $411431.63    | 0.15%             | 2033-06-15      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| Hudsons Bay Simon JV Trust                       | Hudsons Bay Simon JV Trust 2015-HBS                                              | CUSIP: 44422PBN1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $998791.30    | 0.36%             | 2034-08-05      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| FIRSTCASH INC                                    | FirstCash Inc                                                                    | CUSIP: 33767DAB1<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |       250000 | PA      | $244424.99    | 0.09%             | 2028-09-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Banc of America Mortgage Securities              | Banc of America Mortgage 2003-C Trust                                            | CUSIP: 0605067F3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       168850 | PA      | $93961.59     | 0.03%             | 2033-04-25      | Variable      | 6.87%                 | No            |                  2 | On Loan: No      |
| Endo Luxembourg Finance Company I S.a r.l.       | Endo Luxembourg Finance Company I Sa rl 2024 1st Lien Term Loan                  | CUSIP: 29280UAD5<br>LEI: 222100B15VY0VVCTG251 | Long             | LON              | CORP              | US        |      1488750 | PA      | $1491355.31   | 0.53%             | 2031-04-23      | Floating      | 8.36%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc              | Clydesdale Acquisition Holdings Inc Term Loan B                                  | CUSIP: 18972FAC6<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |      1345474 | PA      | $1344532.20   | 0.48%             | 2029-04-13      | Floating      | 7.53%                 | No            |                  2 | On Loan: No      |
| Starwood Commercial Mortgage Trust               | STWD 2022-FL3 Ltd                                                                | CUSIP: 78485KAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      1526989 | PA      | $1522533.26   | 0.55%             | 2038-11-15      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| KEYSIGHT TECHNOLOGIES                            | Keysight Technologies Inc                                                        | CUSIP: 49338LAE3<br>LEI: 549300GLKVIO8YRCYN02 | Long             | DBT              | CORP              | US        |       600000 | PA      | $600669.28    | 0.22%             | 2027-04-06      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| SES S A                                          | SES S A                                                                          | CUSIP: 000000000<br>LEI: 5493008JPA4HYMH1HX51 | Long             | EC               | CORP              | LU        |           90 | NS      | $1035.00      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| E.W. Scripps Company (The)                       | EW Scripps Company (The) 2025 Term Loan B2                                       | CUSIP: 26928BAQ2<br>LEI: 549300U1OW41QPKYW028 | Long             | LON              | CORP              | US        |       644125 | PA      | $650566.25    | 0.23%             | 2028-06-30      | Floating      | 10.21%                | No            |                  2 | On Loan: No      |
| PARK INTERMED HOLDINGS                           | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer | CUSIP: 70052LAD5<br>LEI: N/A                  | Long             | DBT              |  | US        |       250000 | PA      | $256025.00    | 0.09%             | 2030-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ASIAN INFRASTRUCTURE INV                         | Asian Infrastructure Investment Bank/The                                         | CUSIP: 000000000<br>LEI: 25490065OSV2524LCR32 | Long             | DBT              | NUSS              | XX        |    175000000 | PA      | $2034367.93   | 0.73%             | 2031-07-02      | Fixed         | 7.20%                 | Yes           |                  2 | On Loan: No      |
| BLACKSTONE MORTGAGE TR                           | Blackstone Mortgage Trust Inc                                                    | CUSIP: 09257WAF7<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | DBT              |  | US        |       600000 | PA      | $634252.20    | 0.23%             | 2029-12-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                     | CSMC 2014-USA OA LLC                                                             | CUSIP: 12649AAN9<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |       750000 | PA      | $560662.50    | 0.20%             | 2037-09-15      | Fixed         | 4.37%                 | No            |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC                           | Energizer Holdings Inc                                                           | CUSIP: 29272WAD1<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |      1155000 | PA      | $1094999.14   | 0.39%             | 2029-03-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Banc of America Funding Corporation              | Banc of America Funding 2005-5 Trust                                             | CUSIP: 05946XD34<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        44619 | PA      | $44924.06     | 0.02%             | 2035-09-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                             | Cleveland-Cliffs Inc                                                             | CUSIP: 185899AP6<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |       935000 | PA      | $912194.98    | 0.33%             | 2032-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ZEBRA TECHNOLOGIES CORP                          | Zebra Technologies Corp                                                          | CUSIP: 989207AD7<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | DBT              | CORP              | US        |       775000 | PA      | $794357.18    | 0.28%             | 2032-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                         | JP Morgan Mortgage Trust 2005-A3                                                 | CUSIP: 466247QY2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        47805 | PA      | $47910.50     | 0.02%             | 2035-06-25      | Variable      | 6.66%                 | No            |                  2 | On Loan: No      |
| American Greetings Corporation                   | American Greetings Corporation 2024 Term Loan B                                  | CUSIP: 02639DAN6<br>LEI: 549300WMJOT8C9DNMF90 | Long             | LON              | CORP              | US        |       667233 | PA      | $667566.76    | 0.24%             | 2029-10-30      | Floating      | 10.11%                | No            |                  2 | On Loan: No      |
| Bank                                             | BANK 2017-BNK6                                                                   | CUSIP: 060352AV3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $821130.40    | 0.29%             | 2060-07-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| TRI POINTE HOMES INC                             | Tri Pointe Homes Inc                                                             | CUSIP: 87265HAG4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       515000 | PA      | $520302.44    | 0.19%             | 2028-06-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA SECURED FIN                         | Virgin Media Secured Finance PLC                                                 | CUSIP: 92769XAR6<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |      1190000 | PA      | $1106531.26   | 0.40%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| OPAL BIDCO SAS                                   | OPAL BIDCO                                                                       | CUSIP: 68348BAA1<br>LEI: 969500R96XT7XY2UJ564 | Long             | DBT              | CORP              | FR        |       680000 | PA      | $686824.34    | 0.25%             | 2032-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SAKS GLOBAL ENTERPRS LLC                         | Saks Global Enterprises LLC                                                      | CUSIP: 79380MAA3<br>LEI: 5493007HQSJGRH78Q684 | Long             | DBT              | CORP              | US        |       855000 | PA      | $192375.00    | 0.07%             | 2029-12-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| CAMELOT RETURN MERGER SU                         | Camelot Return Merger Sub Inc                                                    | CUSIP: 13323NAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       650000 | PA      | $595575.50    | 0.21%             | 2028-08-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES INC                         | Sensata Technologies Inc                                                         | CUSIP: 81728UAC8<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |       300000 | PA      | $306538.80    | 0.11%             | 2032-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                            | HUB International Ltd                                                            | CUSIP: 44332PAJ0<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |      1000000 | PA      | $1041248.53   | 0.37%             | 2032-01-31      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| AthenaHealth Group Inc                           | Athenahealth Group Inc 2022 Term Loan B                                          | CUSIP: 04686RAB9<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | LON              | CORP              | US        |      1049630 | PA      | $1048087.40   | 0.38%             | 2029-02-15      | Floating      | 7.11%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                     | GS Mortgage Securities Corp Trust 2020-DUNE                                      | CUSIP: 36258BAQ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       923628 | PA      | $900461.71    | 0.32%             | 2036-12-15      | Floating      | 6.51%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                           | Cloud Software Group Inc                                                         | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |      1380000 | PA      | $1428108.18   | 0.51%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Petco Health and Wellness Company Inc            | Petco Health and Wellness Company Inc 2021 Term Loan B                           | CUSIP: 71601HAB2<br>LEI: 2549007TYGV6RVSE9M61 | Long             | LON              | CORP              | US        |       410000 | PA      | $382632.50    | 0.14%             | 2028-03-03      | Floating      | 7.81%                 | No            |                  2 | On Loan: No      |
| LITHIA MOTORS INC                                | Lithia Motors Inc                                                                | CUSIP: 536797AF0<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |       670000 | PA      | $630228.80    | 0.23%             | 2031-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SEAGATE DATA STORAGE TECHNOLOG                   | SEAGATE DATA STOR                                                                | CUSIP: 81180LAQ8<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |      1275000 | PA      | $1346556.01   | 0.48%             | 2031-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Trust 2021-ARIA                                                               | CUSIP: 05608RAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $999688.90    | 0.36%             | 2036-10-15      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| Viking Cruises Ltd                               | Viking Cruises Ltd                                                               | CUSIP: 92676XAD9<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |       210000 | PA      | $209864.47    | 0.08%             | 2027-09-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| FIRSTCASH INC                                    | FirstCash Inc                                                                    | CUSIP: 33767DAD7<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |      1105000 | PA      | $1132741.03   | 0.41%             | 2032-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| AES CORP/THE                                     | AES Corp/The                                                                     | CUSIP: 00130HCL7<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |       640000 | PA      | $616654.02    | 0.22%             | 2055-07-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae REMICS                                                                | CUSIP: 31359ST75<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |        12675 | PA      | $12942.16     | 0.00%             | 2031-06-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FORTRESS TRANS & INFRAST                         | FTAI Aviation Investors LLC                                                      | CUSIP: 34960PAG6<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |       365000 | PA      | $377998.02    | 0.14%             | 2032-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| HGI CRE CLO Ltd                                  | HGI CRE CLO 2021-FL2 Ltd                                                         | CUSIP: 40390JAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |       575241 | PA      | $573171.04    | 0.21%             | 2036-09-17      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND                          | Romania Government Bond                                                          | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     15800000 | PA      | $3299024.84   | 1.18%             | 2029-02-12      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRISTOW GROUP INC                                | Bristow Group Inc                                                                | CUSIP: 11040GAA1<br>LEI: 5493005Q24EN3UC1PV68 | Long             | DBT              | CORP              | US        |      1570000 | PA      | $1573716.19   | 0.56%             | 2028-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Directv Financing LLC                            | DirecTV Financing LLC Term Loan                                                  | CUSIP: 25460HAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |        87370 | PA      | $87517.72     | 0.03%             | 2027-08-02      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                        | IQVIA Inc                                                                        | CUSIP: 46266TAD0<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |       915000 | PA      | $943397.03    | 0.34%             | 2030-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SONIC AUTOMOTIVE INC                             | Sonic Automotive Inc                                                             | CUSIP: 83545GBD3<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | DBT              | CORP              | US        |       295000 | PA      | $283705.36    | 0.10%             | 2029-11-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                             | Colombian TES                                                                    | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  20100000000 | PA      | $5117052.72   | 1.83%             | 2033-02-09      | Fixed         | 13.25%                | No            |                  2 | On Loan: No      |
| Washington Mutual MSC Mortgage Pass-Through CTFS | Washington Mutual MSC Mortgage Pass-Through Certificates Series 2004-RA4 Trust   | CUSIP: 939336U43<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        41025 | PA      | $42560.80     | 0.02%             | 2034-07-25      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                         | Vistra Operations Co LLC                                                         | CUSIP: 92840VAP7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |       690000 | PA      | $730290.48    | 0.26%             | 2031-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                         | Warnermedia Holdings Inc                                                         | CUSIP: 55903VBW2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |       730000 | PA      | $487968.50    | 0.17%             | 2042-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| SONIC AUTOMOTIVE INC                             | Sonic Automotive Inc                                                             | CUSIP: 83545GBE1<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | DBT              | CORP              | US        |       695000 | PA      | $655029.86    | 0.23%             | 2031-11-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Liberty Mutual Group Inc                         | Liberty Mutual Group Inc                                                         | CUSIP: 53079EBG8<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |       750000 | PA      | $749204.55    | 0.27%             | 2029-02-01      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                                     | Entegris Inc                                                                     | CUSIP: 29365BAA1<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |       500000 | PA      | $489767.41    | 0.18%             | 2029-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Sound Point CLO LTD                              | SOUND POINT CLO VIII-R LTD                                                       | CUSIP: 83607HAN5<br>LEI: 549300RPMX5HA435Q562 | Long             | ABS-CBDO         | CORP              | KY        |       612276 | PA      | $613067.77    | 0.22%             | 2030-04-15      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| PRAIRIE ACQUIROR LP                              | Prairie Acquiror LP                                                              | CUSIP: 73943NAA4<br>LEI: 254900Q6KU2LVSIISH22 | Long             | DBT              | CORP              | US        |       375000 | PA      | $388420.88    | 0.14%             | 2029-08-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA CAPITAL                           | Telecom Italia Capital SA                                                        | CUSIP: 87927VAR9<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |       700000 | PA      | $733878.60    | 0.26%             | 2036-07-18      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| SPRINT SPECTRUM / SPEC I                         | Sprint Spectrum Co LLC / Sprint Spectrum Co II LLC / Sprint Spectrum Co III LLC  | CUSIP: 85208NAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       412500 | PA      | $413957.95    | 0.15%             | 2028-03-20      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| PEDIATRIX MEDICAL GROUP                          | Pediatrix Medical Group Inc                                                      | CUSIP: 58502BAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       665000 | PA      | $651232.51    | 0.23%             | 2030-02-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                                     | Navient Corp                                                                     | CUSIP: 63938CAP3<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |       875000 | PA      | $984421.38    | 0.35%             | 2031-03-15      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| MASTR Adjustable Rate Mortgages Trust            | MASTR Adjustable Rate Mortgages Trust 2003-6                                     | CUSIP: 576433GH3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |         1545 | PA      | $1508.68      | 0.00%             | 2034-01-25      | Variable      | 4.40%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                | Iron Mountain Inc                                                                | CUSIP: 46284VAN1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |      1330000 | PA      | $1257795.76   | 0.45%             | 2031-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AZORRA FINANCE                                   | Azorra Finance Ltd                                                               | CUSIP: 05480AAB1<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |       485000 | PA      | $495005.80    | 0.18%             | 2031-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| INTL BK RECON & DEVELOP                          | International Bank for Reconstruction & Development                              | CUSIP: 000000000<br>LEI: ZTMSNXROF84AHWJNKQ93 | Long             | DBT              | NUSS              | XX        |     60000000 | PA      | $3264985.66   | 1.17%             | 2029-02-09      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SOMPO INTL HLDS LTD                              | Sompo International Holdings Ltd                                                 | CUSIP: 29267HAA7<br>LEI: 54930073OSJENOG1DL54 | Long             | DBT              | CORP              | BM        |       575000 | PA      | $636846.88    | 0.23%             | 2034-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| INTER-AMERICAN DEVEL BK                          | Inter-American Development Bank                                                  | CUSIP: 000000000<br>LEI: VKU1UKDS9E7LYLMACP54 | Long             | DBT              | NUSS              | XX        |    140000000 | PA      | $1630276.82   | 0.58%             | 2033-04-17      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                          | Mexican Bonos                                                                    | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     85000000 | PA      | $4274601.11   | 1.53%             | 2031-05-29      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| MODIVCARE INC                                    | Modivcare Inc 2025 Incremental Term Loan                                         | CUSIP: 60783LAD2<br>LEI: 549300EFZIFW7F7I0Q28 | Long             | LON              | CORP              | US        |       272976 | PA      | $206268.89    | 0.07%             | 2026-01-12      | Floating      | 11.78%                | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA FINANCE PLC                         | Virgin Media Finance PLC                                                         | CUSIP: 92769VAJ8<br>LEI: 2138001LVYC87DDHT482 | Long             | DBT              | CORP              | GB        |       320000 | PA      | $288458.59    | 0.10%             | 2030-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| One New York Plaza Trust 2020-1NYP               | One New York Plaza Trust 2020-1NYP                                               | CUSIP: 68249DAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $978376.80    | 0.35%             | 2036-01-15      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                          | Jane Street Group / JSG Finance Inc                                              | CUSIP: 47077WAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       340000 | PA      | $337335.86    | 0.12%             | 2032-11-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| ELLUCIAN HOLDINGS INC                            | Ellucian Holdings Inc                                                            | CUSIP: 289178AA3<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | DBT              | CORP              | US        |       760000 | PA      | $769892.16    | 0.28%             | 2029-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| RESOLUTE TOPCO INC                               | RESOLUTE TOPCO INC                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        26718 | NS      | $146949.00    | 0.05%             |  |  |  | No            |                  3 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                         | Builders FirstSource Inc                                                         | CUSIP: 12008RAS6<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |       715000 | PA      | $725516.94    | 0.26%             | 2034-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                 | CSC Holdings LLC                                                                 | CUSIP: 126307BM8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |       565000 | PA      | $567941.39    | 0.20%             | 2028-05-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| Westgate Resorts                                 | Westgate Resorts 2022-1 LLC                                                      | CUSIP: 96034JAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       163399 | PA      | $162824.58    | 0.06%             | 2036-08-20      | Fixed         | 2.49%                 | No            |                  2 | On Loan: No      |
| Retained Vantage Data Centers Issuer, LLC        | Retained Vantage Data Centers Issuer LLC                                         | CUSIP: 76134KAA2<br>LEI: 254900N4NW6XZ9B4HM15 | Long             | ABS-O            | CORP              | US        |       900000 | PA      | $887563.62    | 0.32%             | 2048-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ABN AMRO Bank NV                                 | ABN AMRO Bank NV                                                                 | CUSIP: 00084DAL4<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |       750000 | PA      | $749797.89    | 0.27%             | 2026-04-18      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO                                  | Nissan Motor Co Ltd                                                              | CUSIP: 654922AD5<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |       480000 | PA      | $503894.46    | 0.18%             | 2035-07-17      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                     | GS Mortgage Securities Corp Trust 2021-DM                                        | CUSIP: 36265AAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $992500.00    | 0.36%             | 2036-11-15      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2550000 | PA      | $2385831.51   | 0.85%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                             | Colombian TES                                                                    | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  17000000000 | PA      | $3562287.79   | 1.28%             | 2030-09-18      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ZEGONA FINANCE PLC                               | Zegona Finance PLC                                                               | CUSIP: 98927UAA5<br>LEI: 254900B3KC1SS7T2TE92 | Long             | DBT              | CORP              | GB        |       950000 | PA      | $1011275.00   | 0.36%             | 2029-07-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                     | UBS Group AG                                                                     | CUSIP: 902613AJ7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |       495000 | PA      | $485589.31    | 0.17%             | 2027-02-12      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                          | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BW1<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |       230000 | PA      | $231651.86    | 0.08%             | 2031-09-30      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| AL NGPL Holdings LLC                             | AL NGPL Holdings LLC Term Loan B                                                 | CUSIP: 01021AAB6<br>LEI: 254900WKSN3ZUJ0TO315 | Long             | LON              | CORP              | US        |      1181449 | PA      | $1183811.81   | 0.42%             | 2030-12-09      | Floating      | 6.78%                 | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                             | Edison International                                                             | CUSIP: 281020AX5<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |       670000 | PA      | $656985.59    | 0.24%             | 2053-06-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| TRINIDAD & TOBAGO                                | Trinidad & Tobago Government International Bond                                  | CUSIP: 896292AJ8<br>LEI: N/A                  | Long             | DBT              | NUSS              | TT        |       750000 | PA      | $738795.00    | 0.26%             | 2026-08-04      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CHURCHILL DOWNS INC                              | Churchill Downs Inc                                                              | CUSIP: 171484AJ7<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |       800000 | PA      | $816821.60    | 0.29%             | 2031-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LATAM AIRLINES GROUP SA                          | Latam Airlines Group SA                                                          | CUSIP: 51817RAD8<br>LEI: 549300HX3UUDPEFTG707 | Long             | DBT              | CORP              | CL        |       615000 | PA      | $636217.50    | 0.23%             | 2030-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ARCHROCK PARTNERS LP/FIN                         | Archrock Partners LP / Archrock Partners Finance Corp                            | CUSIP: 03959KAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       710000 | PA      | $720526.46    | 0.26%             | 2032-09-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| BANIJAY ENTERTAINMENT                            | Banijay Entertainment SAS                                                        | CUSIP: 060335AB2<br>LEI: 969500CE0IE2EZ5VBG13 | Long             | DBT              | CORP              | FR        |      1100000 | PA      | $1140719.80   | 0.41%             | 2029-05-01      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| EUROPEAN BK RECON & DEV                          | European Bank for Reconstruction & Development                                   | CUSIP: 000000000<br>LEI: 549300HTGDOVDU6OGK19 | Long             | DBT              | NUSS              | XX        |    185000000 | PA      | $2103221.05   | 0.75%             | 2027-10-26      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GROUP INC                         | Cloud Software Group Inc 2024 1st Lien Term Loan B                               | CUSIP: 88632NBF6<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |       985478 | PA      | $986818.12    | 0.35%             | 2029-03-29      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| BEACH ACQUISITION BIDCO                          | Beach Acquisition Bidco LLC                                                      | CUSIP: 07337JAC1<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |       580000 | PA      | $604693.39    | 0.22%             | 2033-07-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Banc of America Funding Corporation              | Banc of America Funding 2005-D Trust                                             | CUSIP: 06051GDM8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        75643 | PA      | $70245.23     | 0.03%             | 2035-05-25      | Variable      | 5.43%                 | No            |                  2 | On Loan: No      |
| CENTRAL GARDEN & PET CO                          | Central Garden & Pet Co                                                          | CUSIP: 153527AN6<br>LEI: 5493004DVZLD37DJ0H83 | Long             | DBT              | CORP              | US        |       375000 | PA      | $352406.66    | 0.13%             | 2030-10-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Trust 2022-CLS                                                                | CUSIP: 05609XAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       750000 | PA      | $733585.28    | 0.26%             | 2027-10-13      | Fixed         | 6.79%                 | No            |                  2 | On Loan: No      |
| ASIAN INFRASTRUCTURE INV                         | Asian Infrastructure Investment Bank/The                                         | CUSIP: 000000000<br>LEI: 25490065OSV2524LCR32 | Long             | DBT              | NUSS              | XX        |    185000000 | PA      | $2024424.08   | 0.73%             | 2031-12-08      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| GRAY MEDIA INC                                   | Gray Media Inc                                                                   | CUSIP: 389375AN6<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |       595000 | PA      | $600218.95    | 0.22%             | 2032-07-15      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| HERTZ CORP/THE                                   | Hertz Corp/The                                                                   | CUSIP: 428040DC0<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |       190000 | PA      | $198499.05    | 0.07%             | 2029-07-15      | Fixed         | 12.63%                | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                           | Sequoia Mortgage Trust 2003-1                                                    | CUSIP: 81743PAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |         1913 | PA      | $1794.13      | 0.00%             | 2033-04-20      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc                                   | Sabre GLBL Inc 2021 Term Loan B2                                                 | CUSIP: 78571YBF6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |       224831 | PA      | $223286.18    | 0.08%             | 2027-12-17      | Floating      | 7.97%                 | No            |                  2 | On Loan: No      |
| VMWARE LLC                                       | VMware LLC                                                                       | CUSIP: 928563AC9<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |       750000 | PA      | $741343.44    | 0.27%             | 2027-08-21      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| B&G FOODS INC                                    | B&G Foods Inc                                                                    | CUSIP: 05508WAC9<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | DBT              | CORP              | US        |       985000 | PA      | $920977.44    | 0.33%             | 2028-09-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                   | Morgan Stanley Capital I Trust 2014-150E                                         | CUSIP: 61764BAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $893728.80    | 0.32%             | 2032-09-09      | Fixed         | 3.91%                 | No            |                  2 | On Loan: No      |
| INTL BK RECON & DEVELOP                          | International Bank for Reconstruction & Development                              | CUSIP: 000000000<br>LEI: ZTMSNXROF84AHWJNKQ93 | Long             | DBT              | NUSS              | XX        |     15000000 | PA      | $2308926.61   | 0.83%             | 2028-01-14      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| CARNIVAL CORP                                    | Carnival Corp                                                                    | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |       725000 | PA      | $737862.23    | 0.26%             | 2033-02-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| GOLUB CAPITAL CAP FND                            | Golub Capital Private Credit Fund                                                | CUSIP: 38179RAD7<br>LEI: 254900B5KBW6OY1F9951 | Long             | DBT              | CORP              | US        |       500000 | PA      | $501970.59    | 0.18%             | 2030-05-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae REMICS                                                                | CUSIP: 31392HFB4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |         1518 | PA      | $1516.41      | 0.00%             | 2033-01-25      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI                         | Standard Building Solutions Inc                                                  | CUSIP: 853191AC8<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |       235000 | PA      | $237238.68    | 0.09%             | 2033-08-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GRAHAM PACKAGING/GPC CAP                         | Graham Packaging Co Inc                                                          | CUSIP: 384701AA6<br>LEI: 549300YS0ZFT826HIK72 | Long             | DBT              | CORP              | US        |       475000 | PA      | $474262.28    | 0.17%             | 2028-08-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                        | Block Inc                                                                        | CUSIP: 852234AS2<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |       895000 | PA      | $918438.26    | 0.33%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MACQUARIE GROUP LTD                              | Macquarie Group Ltd                                                              | CUSIP: 55608JBF4<br>LEI: ACMHD8HWFMFUIQQ8Y590 | Long             | DBT              | CORP              | AU        |      1000000 | PA      | $1000143.80   | 0.36%             | 2026-08-09      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| CONNECT FINCO SARL                               | Connect Finco Sarl 2024 Non-Extended Term Loan B                                 | CUSIP: 000000000<br>LEI: 2594001KNYIQ456J2792 | Long             | LON              | CORP              | LU        |       248099 | PA      | $247386.85    | 0.09%             | 2026-12-11      | Floating      | 7.86%                 | No            |                  2 | On Loan: No      |
| EXCELERATE ENERGY LP                             | Excelerate Energy LP                                                             | CUSIP: 30069UAA6<br>LEI: LGL4IE90TNTFYJ55BK06 | Long             | DBT              | CORP              | US        |       555000 | PA      | $581002.86    | 0.21%             | 2030-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| FORTRESS TRANS & INFRAST                         | FTAI Aviation Investors LLC                                                      | CUSIP: 34960PAD3<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |       700000 | PA      | $698310.13    | 0.25%             | 2028-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Prudential Financial Inc                         | Prudential Financial Inc                                                         | CUSIP: 744320AW2<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |       750000 | PA      | $738150.00    | 0.26%             | 2047-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BAYTEX ENERGY CORP                               | Baytex Energy Corp                                                               | CUSIP: 07317QAJ4<br>LEI: 549300R5LTV2H7I1I079 | Long             | DBT              | CORP              | CA        |       350000 | PA      | $356175.16    | 0.13%             | 2030-04-30      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                         | Hess Midstream Operations LP                                                     | CUSIP: 428102AF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       300000 | PA      | $301305.00    | 0.11%             | 2030-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LATAM AIRLINES GROUP SA                          | Latam Airlines Group SA                                                          | CUSIP: 51817RAE6<br>LEI: 549300HX3UUDPEFTG707 | Long             | DBT              | CORP              | CL        |       470000 | PA      | $484805.00    | 0.17%             | 2031-01-07      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| ENCINO ACQUISITION PARTN                         | Encino Acquisition Partners Holdings LLC                                         | CUSIP: 29254BAB3<br>LEI: 549300BUKUEKT2UE4T49 | Long             | DBT              | CORP              | US        |       300000 | PA      | $331057.80    | 0.12%             | 2031-05-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA RESOURCES CRP                         | California Resources Corp                                                        | CUSIP: 13057QAK3<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | DBT              | CORP              | US        |       355000 | PA      | $364668.48    | 0.13%             | 2029-06-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                      | Asurion LLC 2021 Term Loan B9                                                    | CUSIP: 04649VAY6<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |      1480694 | PA      | $1479893.98   | 0.53%             | 2027-07-31      | Floating      | 7.72%                 | No            |                  2 | On Loan: No      |
| DirecTV Financing LLC                            | DirecTV Financing LLC 2024 Term Loan                                             | CUSIP: 25460HAD4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |       712912 | PA      | $706196.44    | 0.25%             | 2029-08-02      | Floating      | 9.82%                 | No            |                  2 | On Loan: No      |
| TELUS CORP                                       | TELUS Corp                                                                       | CUSIP: 87971MCL5<br>LEI: L2TEUTQ8OSHMJWVLCE40 | Long             | DBT              | CORP              | CA        |       825000 | PA      | $835447.31    | 0.30%             | 2055-10-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| TAYLOR MORRISON COMM                             | Taylor Morrison Communities Inc                                                  | CUSIP: 87724RAJ1<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |       255000 | PA      | $251729.98    | 0.09%             | 2030-08-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                      | Allied Universal Holdco LLC 2021 USD Incremental Term Loan B                     | CUSIP: 01957TAH0<br>LEI: 98450038B4549046D794 | Long             | LON              | CORP              | US        |       845611 | PA      | $846972.81    | 0.30%             | 2028-05-12      | Floating      | 8.21%                 | No            |                  2 | On Loan: No      |
| Global Mortgage Securitization Ltd               | Global Mortgage Securitization Ltd                                               | CUSIP: 378961AB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | KY        |         6974 | PA      | $6877.22      | 0.00%             | 2032-11-25      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| BROADCOM CRP / CAYMN FI                          | Broadcom Corp / Broadcom Cayman Finance Ltd                                      | CUSIP: 11134LAR0<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |       750000 | PA      | $733940.54    | 0.26%             | 2028-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                       | Carvana Co                                                                       | CUSIP: 146869AN2<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |      1375000 | PA      | $1438206.40   | 0.52%             | 2030-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                       | Verus Securitization Trust 2021-1                                                | CUSIP: 92537QAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       234743 | PA      | $209524.88    | 0.08%             | 2066-01-25      | Variable      | 1.05%                 | No            |                  2 | On Loan: No      |
| New Economy Assets Phase 1 Issuer LLC            | New Economy Assets - Phase 1 Sponsor LLC                                         | CUSIP: 643821AB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1000000 | PA      | $780251.30    | 0.28%             | 2061-10-20      | Fixed         | 2.41%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                         | American Airlines Inc/AAdvantage Loyalty IP Ltd                                  | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |        85000 | PA      | $84922.50     | 0.03%             | 2026-04-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| B&G Foods, Inc.                                  | B&G Foods Inc 2024 Term Loan B                                                   | CUSIP: 05508TAV4<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | LON              | CORP              | US        |      1645965 | PA      | $1517036.29   | 0.54%             | 2029-10-10      | Floating      | 7.86%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                 | CSC Holdings LLC                                                                 | CUSIP: 126307BF3<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |       715000 | PA      | $467673.35    | 0.17%             | 2031-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                         | Charter Communications Operating LLC / Charter Communications Operating Capital  | CUSIP: 161175BR4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       675000 | PA      | $678867.38    | 0.24%             | 2029-03-30      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                                | Clean Harbors Inc                                                                | CUSIP: 184496AQ0<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |       615000 | PA      | $627946.98    | 0.22%             | 2031-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| FAIRFAX FINL HLDGS LTD                           | Fairfax Financial Holdings Ltd                                                   | CUSIP: 303901BB7<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | DBT              | CORP              | CA        |       750000 | PA      | $754239.48    | 0.27%             | 2028-04-17      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| ARCHES BUYER INC                                 | Arches Buyer Inc                                                                 | CUSIP: 039524AA1<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |       350000 | PA      | $337102.26    | 0.12%             | 2028-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| EMRLD BOR / EMRLD CO-ISS                         | EMRLD Borrower LP / Emerald Co-Issuer Inc                                        | CUSIP: 29103CAA6<br>LEI: 98450099EE3A0ZD5F786 | Long             | DBT              | CORP              | US        |      1030000 | PA      | $1050197.27   | 0.38%             | 2030-12-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ROCKET SOFTWARE INC                              | Rocket Software Inc                                                              | CUSIP: 77314EAA6<br>LEI: 549300PVG26ISP5X1556 | Long             | DBT              | CORP              | US        |       205000 | PA      | $199323.84    | 0.07%             | 2029-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                            | Level 3 Financing Inc                                                            | CUSIP: 527298BS1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |       610000 | PA      | $518500.00    | 0.19%             | 2029-01-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                         | Hess Midstream Operations LP                                                     | CUSIP: 428102AG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       175000 | PA      | $180267.68    | 0.06%             | 2029-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| OPAL BIDCO SAS                                   | Opal Bidco SAS USD Term Loan B                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      1500000 | PA      | $1505070.00   | 0.54%             | 2032-04-28      | Floating      | 7.44%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                           | Lumen Technologies Inc                                                           | CUSIP: 550241AK9<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |       656250 | PA      | $663632.81    | 0.24%             | 2032-10-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| JEFFERSON CAPITAL HOLDIN                         | Jefferson Capital Holdings LLC                                                   | CUSIP: 472481AC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       295000 | PA      | $307786.19    | 0.11%             | 2030-05-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN LLC / JFIN                         | Jefferies Finance LLC / JFIN Co-Issuer Corp                                      | CUSIP: 47232MAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       575000 | PA      | $554498.78    | 0.20%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GEO GROUP INC/THE                                | GEO Group Inc/The                                                                | CUSIP: 36162JAG1<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |       970000 | PA      | $1029873.06   | 0.37%             | 2029-04-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                         | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBN9<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |       500000 | PA      | $524191.00    | 0.19%             | 2032-01-15      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| TRIVIUM PACKAGING FIN                            | Trivium Packaging Finance BV                                                     | CUSIP: 89686QAC0<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |       675000 | PA      | $708747.30    | 0.25%             | 2031-01-15      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                            | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AA4<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |       800000 | PA      | $863954.84    | 0.31%             | 2033-05-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| TK ELEVATOR US NEWCO INC                         | TK Elevator US Newco Inc                                                         | CUSIP: 92537RAA7<br>LEI: 549300C2AFWPAYWS5574 | Long             | DBT              | CORP              | US        |       420000 | PA      | $418121.38    | 0.15%             | 2027-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                              | Buckeye Partners LP                                                              | CUSIP: 118230AM3<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |      1125000 | PA      | $1000182.26   | 0.36%             | 2043-11-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| TERRAFORM POWER OPERATIN                         | TerraForm Power Operating LLC                                                    | CUSIP: 88104LAG8<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |      1590000 | PA      | $1524162.87   | 0.55%             | 2030-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                          | Nissan Motor Acceptance Co LLC                                                   | CUSIP: 65480CAF2<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |       175000 | PA      | $180296.38    | 0.06%             | 2028-09-15      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                                  | CUSIP: 31402BUX0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |        31930 | PA      | $31818.79     | 0.01%             | 2033-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                          | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAR2<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |       900000 | PA      | $1018038.60   | 0.36%             | 2031-09-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                          | Jane Street Group / JSG Finance Inc                                              | CUSIP: 47077WAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       765000 | PA      | $790111.45    | 0.28%             | 2031-04-30      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| SEALED AIR/SEALED AIR US                         | Sealed Air Corp/Sealed Air Corp US                                               | CUSIP: 812127AB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       600000 | PA      | $623643.00    | 0.22%             | 2031-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| NORTHRIVER MIDSTREAM FIN                         | Northriver Midstream Finance LP                                                  | CUSIP: 66679NAB6<br>LEI: 549300SOLNLY3BL6GF18 | Long             | DBT              | CORP              | CA        |       470000 | PA      | $478517.34    | 0.17%             | 2032-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| STORE Master Funding LLC                         | Store Master Funding I-VII XIV XIX XX XXIV                                       | CUSIP: 86212XAF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       494583 | PA      | $497317.14    | 0.18%             | 2053-06-20      | Fixed         | 6.19%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                   | Sabre GLBL Inc                                                                   | CUSIP: 78573NAM4<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |       170000 | PA      | $179222.50    | 0.06%             | 2030-07-15      | Fixed         | 11.13%                | No            |                  2 | On Loan: No      |
| GLOBAL AIR LEASE CO LTD                          | Global Aircraft Leasing Co Ltd                                                   | CUSIP: 37960JAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |       960000 | PA      | $991332.21    | 0.36%             | 2027-09-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| MACY'S RETAIL HLDGS LLC                          | Macy's Retail Holdings LLC                                                       | CUSIP: 55617LAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       580000 | PA      | $555333.50    | 0.20%             | 2032-03-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| SS&C TECHNOLOGIES INC                            | SS&C Technologies Inc                                                            | CUSIP: 78466CAD8<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |       850000 | PA      | $874002.30    | 0.31%             | 2032-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SOTHEBY'S/BIDFAIR HLD                            | Sotheby's/Bidfair Holdings Inc                                                   | CUSIP: 83600GAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1120000 | PA      | $1007447.03   | 0.36%             | 2029-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| EUROPEAN INVESTMENT BANK                         | European Investment Bank                                                         | CUSIP: 000000000<br>LEI: 5493006YXS1U5GIHE750 | Long             | DBT              | NUSS              | XX        |     45500000 | PA      | $2491930.34   | 0.89%             | 2030-01-23      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| PIEDMONT OPERATING PARTN                         | Piedmont Operating Partnership LP                                                | CUSIP: 720198AF7<br>LEI: 549300WKGDPAS39FBD10 | Long             | DBT              |  | US        |       350000 | PA      | $292812.54    | 0.10%             | 2032-04-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| MPH ACQUISITION HOLDINGS                         | MPH Acquisition Holdings LLC                                                     | CUSIP: 553283AE2<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |       460873 | PA      | $351415.66    | 0.13%             | 2031-03-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                            | Quikrete Holdings Inc 2025 Term Loan B                                           | CUSIP: 74839XAL3<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |       354112 | PA      | $353669.86    | 0.13%             | 2032-02-10      | Floating      | 6.61%                 | No            |                  2 | On Loan: No      |
| UNITI GRP/UNITI HLD/CSL                          | Uniti Group LP / Uniti Fiber Holdings Inc / CSL Capital LLC                      | CUSIP: 91327AAB8<br>LEI: N/A                  | Long             | DBT              |  | US        |       270000 | PA      | $255501.23    | 0.09%             | 2030-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NABORS INDUSTRIES INC                            | Nabors Industries Inc                                                            | CUSIP: 62957HAP0<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |       505000 | PA      | $499816.38    | 0.18%             | 2030-01-31      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| BANCO DEL ESTADO -CHILE                          | Banco del Estado de Chile                                                        | CUSIP: 05957AAC3<br>LEI: 5493004R4EJC0W0XVQ72 | Long             | DBT              | CORP              | CL        |       530000 | PA      | $562541.34    | 0.20%             | 2029-05-02      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE MORTGAGE TRUST INC                    | Blackstone Mortgage Trust Inc 2025 Term Loan B6                                  | CUSIP: 09259GAH6<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | LON              | CORP              | US        |       359100 | PA      | $360295.80    | 0.13%             | 2030-12-10      | Floating      | 7.36%                 | No            |                  2 | On Loan: No      |
| Terwin Mortgage Trust                            | Terwin Mortgage Trust Series TMTS 2003-6HE                                       | CUSIP: 881561CG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        91608 | PA      | $81703.73     | 0.03%             | 2033-11-25      | Floating      | 5.61%                 | No            |                  2 | On Loan: No      |
| MURPHY OIL CORP                                  | Murphy Oil Corp                                                                  | CUSIP: 626717AP7<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |       500000 | PA      | $479816.09    | 0.17%             | 2032-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                         | Outfront Media Capital LLC / Outfront Media Capital Corp                         | CUSIP: 69007TAG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       775000 | PA      | $813724.43    | 0.29%             | 2031-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                          | Mexican Bonos                                                                    | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     33500000 | PA      | $1446812.88   | 0.52%             | 2053-07-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST INC                      | Starwood Property Trust Inc 2024 1st Lien Term Loan B                            | CUSIP: 85570DAK8<br>LEI: 5493008SB15CNJRIOK13 | Long             | LON              |  | US        |       911748 | PA      | $910608.05    | 0.33%             | 2027-11-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WINDSTREAM SERVICES/ESCR                         | Windstream Services LLC / Windstream Escrow Finance Corp                         | CUSIP: 97381AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       825000 | PA      | $863684.25    | 0.31%             | 2031-10-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| BRANDYWINE OPER PARTNERS                         | Brandywine Operating Partnership LP                                              | CUSIP: 105340AS2<br>LEI: IXBXSCONLDQ1ZI73YU71 | Long             | DBT              |  | US        |      1385000 | PA      | $1485054.03   | 0.53%             | 2029-04-12      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| TPG Real Estate Finance                          | TRTX 2022-FL5 Issuer Ltd                                                         | CUSIP: 87277JAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |       706988 | PA      | $706596.63    | 0.25%             | 2039-02-15      | Floating      | 5.99%                 | No            |                  2 | On Loan: No      |
| CABLEVISION LIGHTPATH                            | Cablevision Lightpath LLC                                                        | CUSIP: 12687GAB5<br>LEI: 5493002ZVBLRLGES1R71 | Long             | DBT              | CORP              | US        |       580000 | PA      | $578084.14    | 0.21%             | 2028-09-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                         | RHP Hotel Properties LP / RHP Finance Corp                                       | CUSIP: 749571AL9<br>LEI: N/A                  | Long             | DBT              |  | US        |       505000 | PA      | $517159.39    | 0.19%             | 2033-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| RAKUTEN GROUP INC                                | Rakuten Group Inc                                                                | CUSIP: 75102WAM0<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |      1035000 | PA      | $1027044.81   | 0.37%             | 2029-12-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| MPH ACQUISITION HOLDINGS                         | MPH Acquisition Holdings LLC                                                     | CUSIP: 553283AG7<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |       103081 | PA      | $84938.74     | 0.03%             | 2030-12-31      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SDAL Trust                                       | SDAL Trust 2025-DAL                                                              | CUSIP: 78437RAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $1006711.70   | 0.36%             | 2042-04-15      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                     | UBS Group AG                                                                     | CUSIP: 902613BK3<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |       290000 | PA      | $309123.76    | 0.11%             | 2031-04-12      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| WHIRLPOOL CORP                                   | Whirlpool Corp                                                                   | CUSIP: 963320BD7<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |       590000 | PA      | $588593.20    | 0.21%             | 2030-06-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| AETHON UN/AETHIN UN FIN                          | Aethon United BR LP / Aethon United Finance Corp                                 | CUSIP: 00810GAD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       430000 | PA      | $450528.63    | 0.16%             | 2029-10-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| LADDER CAP FIN LLLP/CORP                         | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp               | CUSIP: 505742AR7<br>LEI: N/A                  | Long             | DBT              |  | US        |      1020000 | PA      | $1068266.40   | 0.38%             | 2031-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                          | Dell International LLC / EMC Corp                                                | CUSIP: 24703TAD8<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |       536000 | PA      | $540639.43    | 0.19%             | 2026-06-15      | Fixed         | 6.02%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                            | Quikrete Holdings Inc                                                            | CUSIP: 74843PAB6<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |       535000 | PA      | $548708.99    | 0.20%             | 2033-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CINEMARK USA INC                                 | Cinemark USA Inc 2025 Term Loan B                                                | CUSIP: 172442AV7<br>LEI: 54930008H2137JSCPQ09 | Long             | LON              | CORP              | US        |       664819 | PA      | $666813.07    | 0.24%             | 2030-05-24      | Floating      | 6.61%                 | No            |                  2 | On Loan: No      |
| INTL FINANCE CORP                                | International Finance Corp                                                       | CUSIP: 000000000<br>LEI: QKL54NQY28TCDAI75F60 | Long             | DBT              | NUSS              | XX        |      7800000 | PA      | $1327443.81   | 0.48%             | 2027-02-03      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CCM MERGER INC                                   | CCM Merger Inc                                                                   | CUSIP: 14985VAE1<br>LEI: 549300P77RSBKKFME089 | Long             | DBT              | CORP              | US        |      2380000 | PA      | $2379281.24   | 0.85%             | 2026-05-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| AIRCASTLE LTD                                    | Aircastle Ltd                                                                    | CUSIP: 00928QAW1<br>LEI: 549300PNK8AKY3OIKP58 | Long             | DBT              | CORP              | BM        |      1290000 | PA      | $1281072.56   | 0.46%             | 2026-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ROCKET SOFTWARE INC                              | Rocket Software Inc                                                              | CUSIP: 77314EAB4<br>LEI: 549300PVG26ISP5X1556 | Long             | DBT              | CORP              | US        |       725000 | PA      | $748166.65    | 0.27%             | 2028-11-28      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Hertz Corporation, (The)                         | Hertz Corporation (The) 2021 Term Loan C                                         | CUSIP: 42804VBC4<br>LEI: 549300PD0C69OJ0NLB27 | Long             | LON              | CORP              | US        |       122541 | PA      | $103658.53    | 0.04%             | 2028-06-30      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                             | Indonesia Treasury Bond                                                          | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  30000000000 | PA      | $1827250.94   | 0.65%             | 2034-02-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                            | HUB International Ltd                                                            | CUSIP: 44332PAG6<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |       415000 | PA      | $412056.28    | 0.15%             | 2029-12-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                         | Service Properties Trust                                                         | CUSIP: 81761LAC6<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |      1600000 | PA      | $1703900.80   | 0.61%             | 2031-11-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| PROSUS NV                                        | Prosus NV                                                                        | CUSIP: 74365PAH1<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |      1000000 | PA      | $941208.64    | 0.34%             | 2032-01-19      | Fixed         | 4.19%                 | No            |                  2 | On Loan: No      |
| BOOZ ALLEN HAMILTON INC                          | Booz Allen Hamilton Inc                                                          | CUSIP: 09951LAD5<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |       500000 | PA      | $510479.00    | 0.18%             | 2035-04-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| COOPER TIRE & RUBBER CO                          | Cooper Tire & Rubber Co LLC                                                      | CUSIP: 216831AB3<br>LEI: DE46ECQ8KH195MRIQN56 | Long             | DBT              | CORP              | US        |       705000 | PA      | $722625.00    | 0.26%             | 2027-03-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                            | HUB International Ltd                                                            | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |       135000 | PA      | $140728.86    | 0.05%             | 2030-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CORECIVIC INC                                    | CoreCivic Inc                                                                    | CUSIP: 21871NAC5<br>LEI: 529900JFA3K6PTLT8B15 | Long             | DBT              | CORP              | US        |      1495000 | PA      | $1580811.51   | 0.57%             | 2029-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| PRAIRIE ECI ACQUIROR LP                          | PRAIRIE ECI ACQUIROR LP 2025 REPRICED TERM LOAN B                                | CUSIP: 73955HAF1<br>LEI: 254900Q6KU2LVSIISH22 | Long             | LON              | CORP              | US        |       985135 | PA      | $990680.86    | 0.35%             | 2029-08-01      | Floating      | 8.11%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                           | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC      | CUSIP: 03969YAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |      1085000 | PA      | $1085955.89   | 0.39%             | 2027-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                         | Venture Global Calcasieu Pass LLC                                                | CUSIP: 92328MAE3<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |       400000 | PA      | $410803.60    | 0.15%             | 2030-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| OCEANEERING INTL INC                             | Oceaneering International Inc                                                    | CUSIP: 675232AB8<br>LEI: 549300L6PH74701W0R30 | Long             | DBT              | CORP              | US        |       520000 | PA      | $523020.16    | 0.19%             | 2028-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SALLY HOLDINGS/SALLY CAP                         | Sally Holdings LLC / Sally Capital Inc                                           | CUSIP: 79546VAQ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       405000 | PA      | $415664.87    | 0.15%             | 2032-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                         | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBM1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |       465000 | PA      | $406770.38    | 0.15%             | 2030-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SREIT Trust                                      | SREIT Trust 2021-PALM                                                            | CUSIP: 85237AAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $995937.50    | 0.36%             | 2034-10-15      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                | Newell Brands Inc                                                                | CUSIP: 651229BF2<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |       605000 | PA      | $586268.90    | 0.21%             | 2030-05-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                         | Warnermedia Holdings Inc                                                         | CUSIP: 55903VBY8<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |       635000 | PA      | $596226.90    | 0.21%             | 2029-03-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| SURGERY CENTER HOLDINGS INC                      | Surgery Center Holdings Inc 2024 Term Loan B                                     | CUSIP: 86880NBB8<br>LEI: 54930054EVI5HWPPW113 | Long             | LON              | CORP              | US        |      1344464 | PA      | $1347691.07   | 0.48%             | 2030-12-19      | Floating      | 7.11%                 | No            |                  2 | On Loan: No      |
| Star Parent Inc                                  | Star Parent Inc Term Loan B                                                      | CUSIP: 87169DAB1<br>LEI: 254900GRGCJYRMDRWT73 | Long             | LON              | CORP              | US        |      1308438 | PA      | $1292631.58   | 0.46%             | 2030-09-27      | Floating      | 8.30%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                      | Freddie Mac Non Gold Pool                                                        | CUSIP: 3128NGFY6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |        23276 | PA      | $24057.26     | 0.01%             | 2037-02-01      | Floating      | 6.60%                 | No            |                  2 | On Loan: No      |
| Home Partners of America Trust                   | Home Partners of America 2021-1 Trust                                            | CUSIP: 437300AG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       865970 | PA      | $763667.67    | 0.27%             | 2041-09-17      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| Five Guys Funding, LLC                           | Five Guys Holdings Inc                                                           | CUSIP: 33830JAE5<br>LEI: 549300XWT8G8Q3Z3HJ19 | Long             | ABS-O            | CORP              | US        |        54588 | PA      | $56135.13     | 0.02%             | 2054-01-26      | Fixed         | 7.55%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GROUP INC                         | Cloud Software Group Inc 2024 USD Term Loan                                      | CUSIP: 88632NBE9<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |       341125 | PA      | $342278.30    | 0.12%             | 2031-03-21      | Floating      | 8.05%                 | No            |                  2 | On Loan: No      |
| Structured Adjustable Rate Mortgage Loan Trust   | Structured Adjustable Rate Mortgage Loan Trust                                   | CUSIP: 86359BLB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |         8122 | PA      | $7048.68      | 0.00%             | 2034-03-25      | Variable      | 3.70%                 | No            |                  2 | On Loan: No      |
| SATURN OIL & GAS INC                             | Saturn Oil & Gas Inc                                                             | CUSIP: 80412LAA5<br>LEI: 549300G6BWJ7K6PIIY73 | Long             | DBT              | CORP              | CA        |       301000 | PA      | $298041.56    | 0.11%             | 2029-06-15      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                              | NCL Corp Ltd                                                                     | CUSIP: 62886HBR1<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |       380000 | PA      | $390305.79    | 0.14%             | 2032-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SEMPRA                                           | Sempra                                                                           | CUSIP: 816851BM0<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |       510000 | PA      | $492492.21    | 0.18%             | 2052-04-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Ziply Fiber Issuer, LLC                          | Ziply Fiber Issuer LLC                                                           | CUSIP: 98979QAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       280000 | PA      | $299781.13    | 0.11%             | 2054-04-20      | Fixed         | 11.17%                | No            |                  2 | On Loan: No      |
| Countrywide Home Loans                           | CHL Mortgage Pass-Through Trust 2003-48                                          | CUSIP: 12669EU95<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        15606 | PA      | $7919.92      | 0.00%             | 2033-10-25      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                         | Celanese US Holdings LLC                                                         | CUSIP: 15089QAZ7<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |       720000 | PA      | $728100.72    | 0.26%             | 2030-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ATHENAHEALTH GROUP INC                           | AthenaHealth Group Inc                                                           | CUSIP: 60337JAA4<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | DBT              | CORP              | US        |       500000 | PA      | $491525.95    | 0.18%             | 2030-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Geo Group Inc (The)                              | Geo Group Inc (The) 2024 Term Loan B                                             | CUSIP: 36170EAC1<br>LEI: 54930024XOXET7NQVZ63 | Long             | LON              | CORP              | US        |       523909 | PA      | $524433.16    | 0.19%             | 2029-04-13      | Floating      | 9.61%                 | No            |                  2 | On Loan: No      |
| CP ATLAS BUYER INC                               | CP Atlas Buyer Inc                                                               | CUSIP: 12597YAC3<br>LEI: 2549006ZZ07G0NDDCR36 | Long             | DBT              | CORP              | US        |       490000 | PA      | $494400.20    | 0.18%             | 2030-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| SkyMiles IP Ltd                                  | SkyMiles IP Ltd 2020 Skymiles Term Loan B                                        | CUSIP: 24736CBS2<br>LEI: 2549008L7P4I8VB90936 | Long             | LON              | CORP              | KY        |       865922 | PA      | $869168.96    | 0.31%             | 2027-10-20      | Floating      | 8.08%                 | No            |                  2 | On Loan: No      |
| GEO GROUP INC/THE                                | GEO Group Inc/The                                                                | CUSIP: 36162JAH9<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |       845000 | PA      | $929015.76    | 0.33%             | 2031-04-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| Credit Suisse First Boston Mortgage Securities   | Credit Suisse First Boston Mortgage Securities Corp                              | CUSIP: 22541NEE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       124463 | PA      | $111697.20    | 0.04%             | 2032-09-25      | Variable      | 3.76%                 | No            |                  2 | On Loan: No      |
| COMMONSPIRIT HEALTH                              | CommonSpirit Health                                                              | CUSIP: 20268JAD5<br>LEI: 4SXHN5XW08IBO0UG2V58 | Long             | DBT              | CORP              | US        |       750000 | PA      | $546260.96    | 0.20%             | 2049-10-01      | Fixed         | 3.82%                 | No            |                  2 | On Loan: No      |
| GGAM FINANCE LTD                                 | GGAM Finance Ltd                                                                 | CUSIP: 36170JAE6<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |      1065000 | PA      | $1063713.24   | 0.38%             | 2030-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Trust 2024-BIO                                                                | CUSIP: 05612AAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       449000 | PA      | $447877.50    | 0.16%             | 2041-02-15      | Floating      | 6.98%                 | No            |                  2 | On Loan: No      |
| Athene Holding Ltd                               | Athene Holding Ltd                                                               | CUSIP: 04686JAA9<br>LEI: 549300H316CT32FQXI76 | Long             | DBT              | CORP              | US        |       750000 | PA      | $743441.46    | 0.27%             | 2028-01-12      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                         | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AQ4<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |       770000 | PA      | $785284.50    | 0.28%             | 2032-04-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| DIEBOLD NIXDORF INC                              | Diebold Nixdorf Inc                                                              | CUSIP: 253651AK9<br>LEI: 549300XZK6EWDBAZSY16 | Long             | DBT              | CORP              | US        |       740000 | PA      | $785129.64    | 0.28%             | 2030-03-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                         | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAH9<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |        75000 | PA      | $74866.89     | 0.03%             | 2033-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| LAMB WESTON HLD                                  | Lamb Weston Holdings Inc                                                         | CUSIP: 513272AE4<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |       570000 | PA      | $532585.83    | 0.19%             | 2032-01-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Applied Systems Inc                              | Applied Systems Inc 2024 1st Lien Term Loan                                      | CUSIP: 03827FBD2<br>LEI: 549300NSKGF0SY5SWQ62 | Long             | LON              | CORP              | US        |      2759305 | PA      | $2760270.35   | 0.99%             | 2031-02-24      | Floating      | 6.80%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                                | Service Corp International/US                                                    | CUSIP: 817565CH5<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |      1055000 | PA      | $1057500.35   | 0.38%             | 2032-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                           | Venture Global LNG Inc                                                           | CUSIP: 92332YAB7<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |      1025000 | PA      | $1060216.95   | 0.38%             | 2031-06-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BXP Trust 2017-CQHP                                                              | CUSIP: 12433QAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       344340 | PA      | $331688.62    | 0.12%             | 2034-11-15      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                              | NCL Corp Ltd                                                                     | CUSIP: 62886HBG5<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |       275000 | PA      | $291729.63    | 0.10%             | 2029-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| TransDigm Inc                                    | TransDigm Inc 2024 Term Loan I                                                   | CUSIP: 89364MCC6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |       997475 | PA      | $1000776.39   | 0.36%             | 2028-08-24      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| Frontier Issuer LLC                              | Frontier Issuer LLC                                                              | CUSIP: 35910EAP9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       230653 | PA      | $257429.88    | 0.09%             | 2054-06-20      | Fixed         | 11.16%                | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                 | CSC Holdings LLC 2022 Term Loan B6                                               | CUSIP: 64072UAM4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | LON              | CORP              | US        |      1512732 | PA      | $1506847.78   | 0.54%             | 2028-01-18      | Floating      | 8.84%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                            | Level 3 Financing Inc                                                            | CUSIP: 527298CF8<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |       700000 | PA      | $600250.00    | 0.22%             | 2030-10-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                           | Cloud Software Group Inc                                                         | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |       620000 | PA      | $626128.70    | 0.22%             | 2029-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                 | Paramount Global                                                                 | CUSIP: 92553PBC5<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |       475000 | PA      | $457781.25    | 0.16%             | 2057-02-28      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Asset Backed Funding Certificates                | ABFC 2003-AHL1 Trust                                                             | CUSIP: 04542BCJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        42715 | PA      | $41561.41     | 0.01%             | 2033-03-25      | Variable      | 4.18%                 | No            |                  2 | On Loan: No      |
| EZCORP INC                                       | EZCORP Inc                                                                       | CUSIP: 302301AJ5<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | DBT              | CORP              | US        |       495000 | PA      | $515522.70    | 0.18%             | 2032-04-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                          | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC                  | CUSIP: 91327TAC5<br>LEI: N/A                  | Long             | DBT              |  | US        |       280000 | PA      | $283996.95    | 0.10%             | 2032-06-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN LLC / JFIN                         | Jefferies Finance LLC / JFIN Co-Issuer Corp                                      | CUSIP: 47232MAG7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       480000 | PA      | $477560.35    | 0.17%             | 2031-10-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                          | Starwood Property Trust Inc                                                      | CUSIP: 85571BBD6<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |       850000 | PA      | $874292.15    | 0.31%             | 2030-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ENCORE CAPITAL GROUP INC                         | Encore Capital Group Inc                                                         | CUSIP: 292554AQ5<br>LEI: 5493000UVC6H49CIH830 | Long             | DBT              | CORP              | US        |       800000 | PA      | $842592.77    | 0.30%             | 2029-04-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                | Herc Holdings Inc                                                                | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |       885000 | PA      | $914679.02    | 0.33%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Genesys Cloud Services Holdings II LLC           | Genesys Cloud Services Holdings II LLC 2025 USD Term Loan B                      | CUSIP: 39479UAY9<br>LEI: 254900CRMBG6WX4HX396 | Long             | LON              | CORP              | US        |       522375 | PA      | $521628.00    | 0.19%             | 2032-01-30      | Floating      | 6.86%                 | No            |                  2 | On Loan: No      |
| SFAVE Commercial Mortgage Securities Trust       | SFAVE Commercial Mortgage Securities Trust 2015-5AVE                             | CUSIP: 78413MAQ1<br>LEI: 549300FIGODFFTOAAU64 | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $779978.80    | 0.28%             | 2043-01-05      | Variable      | 4.39%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                | NatWest Group PLC                                                                | CUSIP: 639057AB4<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |      1000000 | PA      | $902313.77    | 0.32%             | 2035-11-28      | Fixed         | 3.03%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                             | Colombian TES                                                                    | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |   9000000000 | PA      | $1959009.26   | 0.70%             | 2028-04-28      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                   | Bombardier Inc                                                                   | CUSIP: 097751CA7<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |       865000 | PA      | $930847.26    | 0.33%             | 2030-11-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| PATTERN ENERGY OP LP/PAT                         | Pattern Energy Operations LP / Pattern Energy Operations Inc                     | CUSIP: 70339PAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1385000 | PA      | $1342735.20   | 0.48%             | 2028-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae REMICS                                                                | CUSIP: 31392F6H5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |         4227 | PA      | $4219.17      | 0.00%             | 2032-12-18      | Floating      | 4.86%                 | No            |                  2 | On Loan: No      |
| KIMMERIDGE TEXAS GAS LLC                         | Kimmeridge Texas Gas LLC                                                         | CUSIP: 49446BAA2<br>LEI: 254900LM244SIFQ1QY31 | Long             | DBT              | CORP              | US        |       210000 | PA      | $215767.02    | 0.08%             | 2030-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Centex Home Equity                               | Centex Home Equity Loan Trust 2002-A                                             | CUSIP: 152314EL0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |         2575 | PA      | $2556.96      | 0.00%             | 2032-01-25      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| CHART INDUSTRIES INC                             | Chart Industries Inc                                                             | CUSIP: 16115QAF7<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |       300000 | PA      | $314259.30    | 0.11%             | 2030-01-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Veolia Environnement SA                          | Veolia Environnement SA                                                          | CUSIP: 92334NAC7<br>LEI: 969500LENY69X51OOT31 | Long             | DBT              | CORP              | FR        |       350000 | PA      | $369621.68    | 0.13%             | 2038-06-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                                    | EchoStar Corp                                                                    | CUSIP: 278768AA4<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |      2136477 | PA      | $2024311.96   | 0.73%             | 2030-11-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SURGERY CENTER HOLDINGS                          | Surgery Center Holdings Inc                                                      | CUSIP: 86881WAF9<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |       415000 | PA      | $426705.91    | 0.15%             | 2032-04-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CONCENTRA HEALTH SERVICE                         | Concentra Health Services Inc                                                    | CUSIP: 20600DAA1<br>LEI: 984500GB84105F75DE32 | Long             | DBT              | CORP              | US        |       820000 | PA      | $842542.00    | 0.30%             | 2032-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CVS Pass-Through Trust                           | CVS Pass-Through Trust                                                           | CUSIP: 126650BP4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       183741 | PA      | $185565.10    | 0.07%             | 2028-12-10      | Fixed         | 6.04%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-28

**Name of Applicant:** ALLSPRING MULTI-SECTOR INCOME FUND

**Signature:** Jeremy DePalma

**Name of Signer:** Jeremy DePalma

**Title:** Treasurer